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November 30, 2012 REAL CONSUMER SPENDING FALLS IN OCTOBER Personal income remained flat in October after increasing 0.4 percent in September. Wages and salaries decreased 0.2 percent in October after increasing 0.3 percent in September. The October decrease reflected work interruptions caused by Hurricane Sandy, which reduced wages and salaries by 0.3 percent. For more information, see the personal income news release. Current-dollar disposable personal income (DPI), after-tax income, remained flat in October after increasing 0.4 percent in September. Aug. Sep. Oct. Personal Income 0.1% 0.4% 0.0% Currentdollar DPI 0.1% 0.4% 0.0% Real DPI –0.3% 0.0% –0.1% Real PCE 0.0% 0.4% –0.3% PCE Prices 0.4% 0.3% 0.1% Real DPI, income adjusted for taxes and inflation, fell 0.1 percent in October after remaining flat in September. Real consumer spending, spending adjusted for price changes, fell 0.3 percent in October after rising 0.4 percent in September. The decline was the largest since September 2009. Spending on durable goods fell 1.7 percent in October after rising 2.2 percent in September. PCE prices increased 0.1 percent in October after increasing 0.3 percent in September. Excluding food and energy, the PCE price index increased 0.1 percent in October, the same increase as in September. Personal Saving Rate 3.7% 3.3% 3.4% Personal saving rate Personal saving as a percent of DPI was 3.4 percent in October, compared with 3.3 percent in September. 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 December 21, 2012, the November estimates of personal income and outlays will be released. Contact: Ralph Stewart or Jeannine Aversa 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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