Personal Income Up 0.9% in January, Spending Down 0.2%

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Personal Income Up 0.9% in January, Spending Down 0.2%

Washington, DC, February 28, 2025-Personal income increased $221.9 billion (0.9% at a monthly rate) in January, according to estimates released by the U.S. Bureau of Economic Analysis.

Disposable personal income -personal income less personal current taxes-increased $194.3 billion (0.9%) and personal consumption expenditures (PCE) decreased $30.7 billion (0.2%).

Personal outlays-the sum of PCE, personal interest payments, and personal current transfer payments-decreased $52.7 billion in January. Personal saving was $1.01 trillion in January and the personal saving rate-personal saving as a percentage of disposable personal income-was 4.6%.