For additional information relating to this article, please contact:
November 25, 2015US PERSONAL INCOME AND OUTLAY, OCTOBER 2015
US personal income grew by 0.4 per cent (seasonally adjusted) in October, marking seven consecutive months of growth. US consumer expenditures increased by 0.1 per cent in October, the ninth consecutive month of growth. In recent months, personal income has risen faster than consumer spending (and other dispositions of personal income), leading to an increase in the US personal savings rate to 5.6 per cent of disposable personal income.
Income was divided on the following basis in October: 53.2 per cent wages and salaries, 28.7 per cent property income, and 18.0 per cent transfers (social security, medicare, medicaaid, unemployment, veterans benefits, etc).
Personal savings (disposable personal income minus personal outlays consisting of consumption, interest paid, and trasnfers to government and the rest of the world) increased $39 billion (0.3%) in October, to 761.9 billion, or 5.6 per cent of disposable income.
Disposable income per capita rose 0.3 per cent month to month, to a level of $38,462 (constant 2009 dollars). Disposable income peaked in December of 2012, but has been averaging 0.2 per cent growth per month through 2015.
US Bureau of Economic Analysis