BEA News: Personal Income and Outlays, January 2024

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January. Disposable personal income (DPI)—personal income less personal current taxes—increased $67.6 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $54.3 billion (0.3 percent) and consumer spending increased $43.9 billion (0.2 percent). Personal saving was $779.3 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.8 percent in January.

The full text of the release can be found at www.bea.gov/news/2024/personal-income-and-outlays-january-2024.