Spending Rose 0.7% in September; Personal Income Up 0.3%
Washington, DC, October 27, 2023-Personal income increased $77.8 billion (0.3% at a monthly rate) in September, according to estimates released by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $56.1 billion (0.3%) and personal consumption expenditures (PCE) increased $138.7 billion (0.7%).
The PCE price index increased 0.4%. Excluding food and energy, the PCE price index increased 0.3%. Real DPI decreased 0.1% in September and real PCE increased 0.4%; goods increased 0.5% and services increased 0.3%.