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October 29, 2012 REAL CONSUMER SPENDING PICKS UP IN SEPTEMBER Personal income increased 0.4 percent in September after increasing 0.1 percent in August. Wages and salaries, the largest component of personal income, increased 0.3 percent in September after increasing 0.1 percent in August. Government social benefits to persons turned up in September. Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in September after increasing 0.1 percent in August. Real DPI, income adjusted for taxes and inflation, remained flat in September after decreasing 0.3 percent in August. Real consumer spending, spending adjusted for price changes, increased 0.4 percent in September after increasing 0.1 percent in August. Spending on nondurable goods rose 0.5 percent after increasing 0.4 percent, while spending on services increased 0.2 percent after decreasing 0.2 percent. PCE prices increased 0.4 percent in September, the same increase as in August. Excluding food and energy, the PCE price index increased 0.1 percent in September, the same increase as in August. July Aug. Sep. Personal Income 0.2% 0.1% 0.4% Currentdollar DPI 0.2% 0.1% 0.4% Real DPI 0.1% –0.3% 0.0% Real PCE 0.3% 0.1% 0.4% PCE Prices 0.1% 0.4% 0.4% Personal Saving Rate 4.1% 3.7% 3.3% Personal saving rate Personal saving as a percent of DPI was 3.3 percent in September, compared with 3.7 percent in August. 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 November 30, 2012, the October 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