Consumer Spending Up Just 0.1% in Sept., the Smallest in 10 Months
Real
disposable personal income, the amount available for spending or saving,
increased 0.8% in September compared to an increase of 0.2% in August.
Real consumer spending increased 0.4% in September compared to a
decreasing 0.1% in August, according
to estimates released today by the Bureau of Economic Analysis.
Personal income, a broad measure that
includes all sources of income, rose 0.5% in September , after increasing
0.4% in August. Wages and salaries, the largest component of personal
income, increased 0.5% after increasing 0.2% in August. Growth turned up
in private industries, reflecting an upturn in services industries.
Personal spending (Personal consumption expenditures - PCE) increased $11.6 billion, or 0.1%, the smallest increase in 10 months. This is compared to a PCE increase of $15.3 billion, or 0.2% in August.
The Personal Consumption Expenditures (PCE) price index decreased 0.3% in September, reflecting a decline in energy prices. In August, the PCE price index rose 0.3%.
Personal saving was a negative $15.0 billion in September, compared with a negative $49.0 billion in August. Personal saving as a percentage of disposable personal income was a negative 0.2% in September, compared with a negative 0.5% in August.
