Consumer Spending in the U.S. in September 2011
Nov 4, 2011
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Consumer spending in the United States increased 0.6% in September 2011 over August 2011, but consumers saved only 3.6% of their income, compared to 4.1% in August.
The U.S. Bureau of Economic Analysis said that consumer spending - reported by the BEA as personal consumption expenditures (PCE) - increased $68.7 billion, or 0.6% in current dollars, in September 2011 from August 2011.
Personal income in the United States increased $17.3 billion, or 0.1%, and disposable personal income (DPI) increased $12.9 billion, or 0.1%, in September.
In August, personal income decreased $13.6 billion, or 0.1%, DPI decreased $12.8 billion, or 0.1%, and PCE increased $24.2 billion, or 0.2%, based on revised estimates.
Real disposable income decreased 0.1% in September, compared with a decrease of 0.4% in August. Real PCE increased 0.5% in September compared with a decrease of less than 0.1% in August.
Personal outlays - PCE, personal interest payments, and personal current transfer payments – increased $72.1 billion in September, compared with an increase of $27.6 billion in August. PCE increased $68.7 billion, compared with an increase of $24.2 billion.
Personal savings - DPI less personal outlays - was $419.8 billion in September, compared with $479.1 billion in August. Personal saving as a percentage of disposable personal income was 3.6% in September, compared with 4.1% in August.
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