October 28, 2011
U.S. Personal Consumption Spending Outpaces Income Growth
Disposable personal income increased by 0.1 percent in September but was outpaced by personal consumption expenditures, which grew 0.6 percent, according to the federal Bureau of Economic Analysis.
Disposable personal income grew $12.9 billion while personal consumption expenditures grew $68.7 billion. PCE is up 0.8 percent since August while DPE is nearly flat over that time.
Wages and salaries increased $17.9 billion in September after decreasing $9.8 billion in August. Manufacturing payrolls continued their decline in September, adding $1.1 billion in losses to a $4.3 billion decrease the month before.
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