The BEA's Personal Income and Outlays report for September 2018 shows personal income increased $35.7 billion in September.


  • Personal income increased $35.7 billion (0.2 percent).
  • Disposable personal income (DPI) increased $29.1 billion (0.2 percent)
  • Real DPI increased 0.1 percent in September.

Personal Consumption Expenditures

  • Personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).
  • Real PCE increased 0.3 percent.

PCE Price Index

  • The PCE price index increased 0.1 percent.
  • Excluding food and energy, the PCE price index increased 0.2 percent.


Updates to Personal Income and Outlays

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The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE -- revised and previously published in last month's release -- are shown above.

The BEA revised both July and August.

This data is reflected in the BEA's first estimate of third-quarter GDP last Friday.

Mike "Mish" Shedlock

Personal Income Up 0.1%, Spending Up 0.6%: What's the Problem?

Personal Income is up 0.1%, spending is up 0.6%. Real Disposable Income is up 0.1%, real spending is up 0.4%.

Disposable Income and Spending Jump: Real Income and Spending is Another Matter

Disposable personal income rose 0.4%, but real income rose only 0.1%. Real personal consumption expenditures were flat.

Consumer Spending +0.2% Prices +0.4%: Real Spending Declined 0.1%

Personal income rose 0.4% in January, but consumers only spent half of the boost.

Personal Income Jumped in January, But It's a One-Time Deal

Personal income rose 0.6% in January. Real income rose 0.5%. Spending rose 0.2% and real spending only 0.1%

Personal Income Up But Real Consumer Spending Declines Second Month

The BEA’s Personal Income and Outlays report shows personal income rose 0.4% but consumer spending rose a scant 0.1% in February.

Personal Income Jumps But Spending Weak

Personal income rose 0.4% in August but spending, both nominal and real, rose a weak 0.1%

Real Personal Consumption Exenditures Rise 0.4% in April, Bonds Quiet

The BEA reports real disposable income rose 0.2% while real spending rose 0.4%.

Real Incomes Rises 0.3% in June, Real Spending 0.2%, Deflator 0.1%

Personal income and spending in June rose mostly inline with the Economic consensus.

Personal Income, Spending, PCE Inflation Up in April

Consumer spending and personal income increased by 0.4% in April, matching the Econoday consensus estimates.