Personal Income Up 0.4% in December, Spending Up 0.7%

Washington, DC, January 31, 2025-Personal income increased $92.0 billion (0.4% at a monthly rate) in December, according to estimates released by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)-personal income less personal current taxes-increased $79.7 billion (0.4%) and personal consumption expenditures (PCE) increased $133.6 billion (0.7%).

Personal outlays-the sum of PCE, personal interest payments, and personal current transfer payments-increased $129.5 billion in December. Personal saving was $843.2 billion in December and the personal saving rate-personal saving as a percentage of disposable personal income-was 3.8%.