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December 23, 2014 REAL CONSUMER SPENDING ROSE IN NOVEMBER Personal income rose 0.4 percent in November after rising 0.3 percent in October. Wages and salaries, the largest component of personal income, rose 0.5 percent in November after rising 0.3 percent in October. Current-dollar disposable personal income (DPI), after-tax income, rose 0.3 percent in November, the same increase as in October. Real DPI, income adjusted for taxes and inflation, increased 0.5 percent in November after increasing 0.3 percent in October. Real consumer spending, spending adjusted for price changes, increased 0.7 percent in November after increasing 0.2 percent in October. Spending on durable goods increased 2.3 percent in November after increasing 0.4 percent in October. Purchases of motor vehicles and parts accounted for about half of the increase in November. PCE prices decreased 0.2 percent in November after remaining flat in October. Excluding food and energy, PCE prices remained flat in November after increasing 0.2 percent in October. Sept. Oct. Nov. Personal Income 0.2% 0.3% 0.4% Currentdollar DPI 0.1% 0.3% 0.3% Real DPI 0.1% 0.3% 0.5% Real PCE 0.2% 0.2% 0.7% PCE Prices 0.1% 0.0% –0.2% 4.6% 4.4% Personal Saving Rate 4.5% Personal saving rate Personal saving as a percent of DPI was 4.4 percent in November and 4.6 percent in October. Percent Change (Monthly Rate) Real Disposable Personal Income and Real Consumer Spending 0.8 0.6 0.4 0.2 0.0 -0.2 Aug Sep Real Disposable Personal Income Oct Nov Real Consumer Spending Source: .ureau of Economic Analysis 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 February 2, 2015, the estimates of December personal income and outlays will be released. Contact: Jeannine Aversa 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce