Personal Income and Outlays

The BEA's Personal Income and Outlays report for November shows a second decline in income. 

  • Personal income decreased $221.8 billion (1.1 percent) in November.
  • Disposable personal income (DPI) decreased $218.0 billion (1.2 percent).
  • Personal consumption expenditures (PCE) decreased $63.3 billion (0.4 percent). 
  • Real DPI decreased 1.3 percent in November and Real PCE decreased 0.4 percent.
  • The PCE price index had no change. 
  • Excluding food and energy, the PCE price index had no change.

Personal Consumption Expenditures (PCE) have almost recovered to pre-pandemic levels but has essentially been flat for many months.

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