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MONDAY March 1, 2010 CONSUMER SPENDING PICKS UP IN JANUARY Personal income increased 0.1 percent in January 2010 after increasing 0.3 percent in December. Wages and salaries, the largest component of personal income, increased 0.4 percent in January after increasing 0.1 percent in December. Average, last 12 months December January Personal Income 0.1 % 0.3 % 0.1 % Real disposable personal income (DPI), income adjusted for inflation and taxes, fell 0.6 percent in January, after rising 0.2 percent in December. The January decline reflected higher nonwithheld taxes. Real DPI 0.0 % 0.2 % –0.6 % Real consumer spending, spending adjusted for price changes, increased 0.3 percent in January, after increasing 0.1 percent in December. Real PCE 0.1 % 0.1 % 0.3 % PCE Prices 0.2 % 0.1 % 0.2 % PCE prices rose 0.2 percent in January. Excluding food and energy, prices were virtually unchanged in January. Personal saving rate Personal saving as a percent of disposable personal income was 3.3 percent in January, as outlays rose and disposable personal income declined. 12-month average December Personal Saving Rate 4.2 % 4.2 % January 3.3 % Real Disposable Personal Income and Real Consumer Spending Percent change (monthly) 1.0 0.5 Real Disposable Personal Income 0.0 -0.5 Real Consumer Spending -1.0 Oct Nov Dec Jan 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 29, 2010, the February estimates of personal income and outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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