Personal income increased $54.5 billion, or 0.4 percent, and disposable personal income (DPI) increased $47.3 billion, or 0.4 percent, in December, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $69.5 billion, or 0.7 percent. In November, personal income increased $44.9 billion, or 0.4 percent, DPI increased $39.0 billion, or 0.3 percent and PCE increased $35.4 billion, or 0.3 percent, based on revised estimates.

Real disposable income increased 0.1 percent in December, compared with an increase of 0.2 percent in November. Real PCE increased 0.4 percent, compared with an increase of 0.2 percent.


Wages and salaries

Private wage and salary disbursements increased $15.5 billion in December, compared with an increase of $5.9 billion in November. Goods-producing industries' payrolls increased $1.5 billion, in contrast to a decrease of $2.5 billion; manufacturing payrolls increased $0.2 billion, in contrast to a decrease of $2.5 billion. Services-producing industries' payrolls increased $14.0 billion, compared with an increase of $8.4 billion. Government wage and salary disbursements increased $1.6 billion, compared with an increase of $1.3 billion.

Other personal income

Supplements to wages and salaries increased $3.8 billion in December, compared with an increase of $3.1 billion in November.

Proprietors' income increased $8.1 billion in December, compared with an increase of $7.9 billion in November. Farm proprietors' income increased $2.8 billion, compared with an increase of $2.7 billion. Nonfarm proprietors' income increased $5.2 billion, the same increase as in November.

Rental income of persons increased $1.9 billion in December, compared with an increase of $1.7 billion in November. Personal income receipts on assets (personal interest income plus personal dividend income) increased $21.9 billion, compared with an increase of $17.3 billion. Personal current transfer receipts increased $3.8 billion, compared with an increase of $8.7 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $2.1 billion in December, compared with an increase of $1.1 billion in November.

Personal current taxes and disposable personal income

Personal current taxes increased $7.1 billion in December, compared with an increase of $5.9 billion in November. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $47.3 billion, or 0.4 percent, in December, compared with an increase of $39.0 billion, or 0.3 percent, in November.


Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $67.5 billion in December, compared with an increase of $33.6 billion in November. PCE increased $69.5 billion, compared with an increase of $35.4 billion.

Personal saving -- DPI less personal outlays -- was $614.1 billion in December, compared with $634.4 billion in November. Personal saving as a percentage of disposable personal income was 5.3 percent in December, compared with 5.5 percent in November. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp.