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MONDAY January 30, 2006 PERSONAL INCOME, CONSUMER SPENDING ROSE IN DECEMBER Personal income rose 0.4 percent in December after rising a similar amount in November, according to estimates released today by the U.S. Bureau of Economic Analysis. Annual growth in 2005 was 5.4 percent compared with 5.9 percent in 2004. Real disposable personal income and real consumer spending also rose. Real Disposable Personal Income and Real Consumer Spending 5 4 * * Reflects impact of the Microsoft special dividend Percent change (monthly) 3 ** 2 1 0 -1 -2 ** -3 ** Reflects impact of Hurricane Katrina * -4 -5 Dec Jan Feb Mar Apr May Jun Real Disposable Personal Income Jul Aug Sep Oct Nov Dec Real Consumer Spending Personal Income Wages and salaries, the largest component of personal income, grew by 0.3 percent in both November and December. Real disposable personal income, the amount of personal income available for spending or saving, increased 0.4 percent after rising 0.8 percent in November. Consumer Spending After almost no growth in October, real consumer spending increased 0.9 percent in November and December. December growth was broadly based in the durable goods sector. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: On March 1, 2006, the January estimate of Personal Income will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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