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For additional information relating to this article, please contact:

Thomas Storring Director of Economics/Statistics
Tel: 902-424-2410Email: Thomas.Storring@novascotia.ca

January 29, 2018
US PERSONAL INCOME AND OUTLAY, DECEMBER AND ANNUAL 2017

DECEMBER

 

 

The US Bureau of Economic Analysis reports that US personal income increased $58.7 billion, or 0.4 per cent in December (seasonally adjusted, levels at annualized rates). The increase in personal income this month primarily reflected an increase in wages and salaries as well as interest and rental income, partially offset by declines in dividend income.  There has been positive personal income growth in each of the last six months and in all but one month of 2017.

US personal disposable income increased $48.0 billion, or by 0.3 per cent.  In real per capita terms, US disposable personal income increased 0.2 per cent.   

US personal consumption outlays increased $61.5 billion, or by 0.4 per cent in December.  

Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) was $351.6 billion in December.  The personal savings rate declined to 2.4 per cent of disposable income.

 

ANNUAL

 

The US Bureau of Economic Analysis reports that US personal income increased $488.1 billion, or 3.1 per cent in 2017 (seasonally adjusted, levels at annualized rates). The increase in personal income this year primarily reflected an increase in wages and salaries as well as interest and rental income. 

US personal disposable income increased $408.4 billion, or by 2.9 per cent.  In real per capita terms, US disposable personal income increased 0.5 per cent.   

US personal consumption outlays increased $603.2 billion, or by 4.5 per cent in 2017.  

Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) was $485.8 billion in 2017.  The personal savings rate declined to 3.4 per cent of disposable income.

 

Source: US Bureau of Economic Analysis



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