Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income rose 0.4 percent (non-annualized) in December, following an upwardly revised 0.4 percent gain in November, and is up 3.4 percent over the past year. Nominal disposable income—income less current taxes—rose 0.4 percent in December. After adjusting for price changes, “real” disposable income ticked up 0.1 percent, and is up 2.1 percent over the past year. Real personal consumption expenditures posted its eighth consecutive monthly gain, jumping up 0.4 percent in December. Real consumption is now trending at 2.8 percent over the past 12 months (its highest level since February 2007), and has been heading even higher recently, increasing at an annualized pace of 4.6 percent over the past three months. Personal savings as a percent of disposable income ticked down to 0.2 percentage point to 5.3 percent in December, continuing to shy away from a recent high of 6.3 percent in June.