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January 28, 2022US PERSONAL INCOME AND OUTLAY, DECEMBER AND ANNUAL 2021 MONTHLY (Dec 2021 vs Nov 2021, seasonally adjusted annualized rate)
The US Bureau of Economic Analysis reports that US personal income increased $70.7 billion, or 0.3%. .
- US personal disposable income increased $39.9 billion, or 0.2%.
- In real per capita terms, US disposable personal income decreased 0.3%.
- US personal consumption expenditures decreased $95.2 billion, or 0.6%.
- Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world)increased $133.4 billion, or 10.2%.
- The personal savings rate was 7.9% of disposable income, down from 7.2%.
ANNUAL (2021 vs 2020)
The US Bureau of Economic Analysis reports that annual US personal income increased $1,432.2 billion, or 7.3%
- US personal disposable income increased $1,056.7 billion, or 6.1%
- In real per capita terms, US disposable personal income increased 1.7%
- US personal consumption expenditures increased $1,702.4 billion, or 12.1%
- Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) decreased $634.4 billion or 22.0%
- The personal savings rate was 12.2%% of disposable income. Down from 16.6%
QUOTATIONS
The estimate for December personal income and outlays reflected the continued economic recovery and government response to the COVID-19 pandemic. In December, COVID-19 cases resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government social benefits decreased, primarily reflecting the winding down of pandemic-related assistance programs. The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified. For more information, see Effects of Selected Federal Pandemic Response Programs on Personal Income.
SOURCE
US Bureau of Economic Analysis. Press release, December 2021
Data retrieved from FRED, Federal Bank of St Louis, Table 2.6. Personal Income and Its Disposition, Monthly NIPA
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