Personal income increased $35.7 billion (0.2 percent) in September, less than expected

Personal income increased $35.7 billion (0.2 percent) in September according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $29.1 billion (0.2 percent) and personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).

Real DPI increased 0.1 percent in September and Real PCE increased 0.3 percent. The PCE price index

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

The increase in personal income in September primarily reflected increases in wages and salaries, government social benefits to persons, and rental income of persons that were partially offset by a decrease in proprietors' income.

The $33.2 billion increase in real PCE in September reflected an increase of $33.5 billion in spending for goods and a $3.5 billion increase in spending for services. Within goods, motor vehicles and parts was the leading contributor to the increase, with strong contribution from recreational goods and vehicles. Within services, the largest contributor to the increase was spending for health care that was more than offset by a decrease in spending for food services and accommodations. Detailed information on monthly real PCE spending can be found in Table 2.3.6U.

Personal outlays increased $57.9 billion in September. Personal saving was $975.7 billion in September, and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2 percent