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Personal Income and Outlays, December 2016
Personal income increased $50.2 billion (0.3 percent) in December according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $43.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $63.1 billion (0.5 percent). Real DPI increased 0.1 percent in December and Real PCE increased 0.3 percent. The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent. 2016 Aug. Sept. Oct. Nov. Dec. Percent change from preceding month Personal income: Current dollars 0.2 0.4 0.5 0.1 0.3 Disposable personal income: Current dollars 0.2 0.3 0.5 0.1 0.3 Chained (2009) dollars 0.1 0.1 0.2 0.0 0.1 Personal consumption expenditures (PCE): Current dollars 0.1 0.7 0.4 0.2 0.5 Chained (2009) dollars -0.1 0.5 0.1 0.2 0.3 Price indexes: PCE 0.2 0.2 0.3 0.1 0.2 PCE, excluding food and energy 0.2 0.1 0.1 0.0 0.1 Price indexes: Percent change from month one year ago PCE 1.0 1.2 1.4 1.4 1.6 PCE, excluding food and energy 1.7 1.7 1.8 1.7 1.7 The increase in personal income in December primarily reflected increases in wages and salaries, personal current transfer receipts, and rental income of persons (table 3). The increase in real PCE in December primarily reflected increases in spending for both durable goods and services (table 7). Personal outlays increased $66.4 billion in December (table 3). Personal saving was $768.4 billion in December and the personal saving rate, personal saving as a percentage of disposable personal income, was 5.4 percent (table 1). 2016 Personal Income and Outlays Personal income (table 6) increased 3.5 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 4.4 percent in 2015. DPI increased 3.8 percent in 2016, the same increase as in 2015. In 2016, PCE increased 3.8 percent, compared with an increase of 3.5 percent in 2015. Real DPI increased 2.7 percent in 2016, compared with an increase of 3.5 percent in 2015. Real PCE (table 8) increased 2.7 percent, compared with an increase of 3.2 percent. Updates Estimates have been updated for October and November. The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2009) dollar DPI and PCE -- revised and as published in last month's release -- are shown below. Change from preceding month October November Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 78.0 76.6 0.5 0.5 1.6 9.2 0.0 0.1 Disposable personal income: Current dollars 65.2 66.9 0.5 0.5 -1.3 9.3 0.0 0.1 Chained (2009) dollars 25.4 27.7 0.2 0.2 -6.4 1.7 -0.1 0.0 Personal consumption expenditures: Current dollars 51.4 45.2 0.4 0.4 24.0 28.8 0.2 0.2 Chained (2009) dollars 16.0 11.1 0.1 0.1 16.8 19.8 0.1 0.2 Next release: March 1, 2017 at 8:30 A.M. EST Personal Income and Outlays: January 2017