U.S. Personal Income and Spending Rise in September Amid Steady Economic Growth

In September, personal income in the U.S. rose by $71.6 billion, reflecting a monthly increase of 0.3%, as reported by the U.S. Bureau of Economic Analysis.

Disposable personal income (DPI) also saw a boost, climbing by $57.4 billion, while personal consumption expenditures (PCE) surged by $105.8 billion, marking a 0.5% increase.

The PCE price index experienced a 0.2% rise, with a 0.3% increase when excluding food and energy prices. Real DPI saw a modest gain of 0.1%, while real PCE increased by 0.4%. Notably, spending on goods rose by 0.7%, driven primarily by nondurable goods, particularly prescription drugs, while services grew by 0.2%, led by health care and housing expenditures.

The increase in current-dollar personal income was mainly attributed to higher compensation and personal current transfer receipts, despite declines in personal interest income and proprietors’ income. Personal outlays also rose by $106.3 billion, leading to a personal saving rate of 4.6%, with total personal savings reaching $1 trillion.

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On the price front, goods prices dipped by 0.1%, while service prices climbed by 0.3%. Food prices increased by 0.4%, contrasted by a 2.0% decrease in energy prices. Year-over-year, the PCE price index rose by 2.1%, with service prices advancing significantly compared to the previous year.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.