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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

November 27, 2019

The US Bureau of Economic Analysis reports that US personal income increased $3.3 billion, or less than 0.1 per cent in October 2019 (seasonally adjusted levels at annualized rates).

"The increase in personal income in October primarily reflected an increase in wages and salaries that was partially offset by decreases in personal interest income and in farm proprietors’ income. BEA adjusted October wages and salaries upward by $7.2 billion (at an annual rate) to account for strike pay and payments associated with contract ratification for members of the United Automobile Workers."

US personal disposable income decreased $12.6 billion, or 0.1 per cent in October 2019 to $16.6 trillion.

In real per capita terms, US disposable personal income decreased $145.0 billion (Chained 2012 dollars) or 0.3 per cent in October 2019.

US personal consumption expenditures increased $39.7 billion, or 0.3 per cent in October 2019

Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) decreased $55.7 billion in October 2019 to $1.287 trillion.

The personal savings rate was 7.8 per cent of disposable income.  

Personal Outlays increased $43.1 billion in October 2019.

Source: US Bureau of Economic Analysis 

Press Release and Table 2.6. Personal Income and Its Disposition, Monthly NIPA

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