Personal Income

Personal income increased $113.8 billion (0.4 percent at a monthly rate) in January, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $219.9 billion (0.9 percent), and personal consumption expenditures (PCE) increased $81.1 billion (0.4 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $85.8 billion in January. Personal saving was $1.05 trillion in January, and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.5 percent.