The Commerce Department just released more data on personal income from December. Americans saw a nice uptick in their incomes last month, and then resisted the holiday urge to spend, saving more of their new gains. Here is a look at personal income and spending moves during the final quarter of 2011:

From the Bureau of Economic Analysis release:
Private wage and salary disbursements increased $29.1 billion in December, in contrast to a decrease of $1.4 billion in November. Goods-producing industries' payrolls increased $10.8 billion, in contrast to a decrease of $6.5 billion; manufacturing payrolls increased $7.4 billion, in contrast to a decrease of $6.2 billion. Services-producing industries' payrolls increased $18.3 billion, compared with an increase of $5.1 billion. Government wage and salary disbursements increased $0.4 billion in December; government wages and salaries were unchanged in November.
The other big takeaway from the report is the savings rate:
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $5.2 billion in December, in contrast to an increase of $8.2 billion in November. PCE decreased $2.0 billion, in contrast to an increase of $11.4 billion.
Personal saving -- DPI less personal outlays -- was $460.1 billion in December, compared with $407.8 billion in November. The personal saving rate -- personal saving as a percentage of disposable income -- was 4.0 percent in December, compared with 3.5 percent in November.
Read the full release here.
Posted
01-30-2012 10:47 AM
by
Graham Griffith