However, despite the increase, disposable income showed slight declines. The U.S. Bureau of Economic Analysis (BEA) reports personal income increased $2.3 billion, or less than .1%, and disposable personal income (DPI) decreased $3.8 billion, or less than .1%, in December. Personal consumption expenditures (PCE) increased $44.1 billion, or .4%.
In November, personal income increased $29.8 billion, or .2%, DPI increased $14.4 billion, or .1%, and PCE increased $74.8 billion, or .6%.
Other key findings by the BEA:
- Private wages and salaries increased $0.7 billion in December, compared with an increase of $35.0 billion in November.
- Supplements to wages and salaries increased $1.7 billion in December, compared with an increase of $4.3 billion in November.
- Personal current taxes increased $6.0 billion in December, compared with an increase of $15.5 billion in November.
- Personal outlays increased $42.0 billion in December, compared with an increase of $72.7 billion in November.