Consumer Spending

Personal income increased $50.4 billion (0.2 percent at a monthly rate) in June. Disposable personal income (DPI)—personal income less personal current taxes—increased $37.7 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $59.3 billion (0.3 percent) and consumer spending increased $57.6 billion (0.3 percent). Personal saving was $703.0 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.4 percent in June. 

Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January. Disposable personal income (DPI)—personal income less personal current taxes—increased $67.6 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $54.3 billion (0.3 percent) and consumer spending increased $43.9 billion (0.2 percent). Personal saving was $779.3 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.8 percent in January.

Personal income increased $60.0 billion (0.3 percent at a monthly rate) in December. Disposable personal income —personal income less personal current taxes—increased $51.8 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $134.7 billion (0.7 percent) and consumer spending increased $133.9 billion (0.7 percent). Personal saving was $766.7 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.7 percent in December.

Real personal consumption expenditures (PCE) by state increased in 42 states and the District of Columbia in 2022, with the percent change ranging from 5.7 percent in Alaska to –3.2 percent in New Hampshire.

Real personal income declined in 45 states and the District of Columbia in 2022, with the percent change ranging from 3.0 percent in North Dakota to –8.9 percent in Rhode Island.

Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October. Disposable personal income —personal income less personal current taxes—increased $63.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $43.8 billion (0.2 percent) and consumer spending increased $41.2 billion (0.2 percent). Personal saving was $768.6 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.8 percent in October.

Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September. Disposable personal income — personal income less personal current taxes— increased $56.1 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $175.1 billion (0.9 percent) and consumer spending increased $138.7 billion (0.7 percent). Personal saving was $687.7 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.4 percent in September.

Personal income increased $87.6 billion (0.4 percent at a monthly rate) in August. Disposable personal income (DPI)—personal income less personal current taxes— increased $46.6 billion (0.2 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $86.0 billion (0.4 percent) and consumer spending increased $83.6 billion (0.4 percent). Personal saving was $794.1 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.9 percent in August.

Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes— increased $7.3 billion (less than 0.1 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $153.8 billion (0.8 percent) and consumer spending increased $144.6 billion (0.8 percent). Personal saving was $705.6 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.5 percent in July.

Personal income increased $69.5 billion (0.3 percent at a monthly rate) in June. Disposable personal income (DPI)—personal income less personal current taxes— increased $67.5 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $109.4 billion (0.6 percent) and consumer spending increased $100.4 billion (0.5 percent). Personal saving was $862.4 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.3 percent in June.

Personal income increased $91.2 billion (0.4 percent at a monthly rate) in May. Disposable personal income —personal income less personal current taxes— increased $86.7 billion (0.4 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $22.7 billion (0.1 percent) and consumer spending increased $18.9 billion (0.1 percent). Personal saving was $910.3 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.6 percent in May.