Click image for larger view
Bureau of Economic Analysis data showed that personal income increased $61.3 billion (0.5 percent), and disposable personal income (DPI) increased $47.1 billion (0.4 percent) in December. Personal consumption expenditures (PCE) decreased $2.0 billion, or less than 0.1 percent. Real (inflation-adjusted) DPI increased 0.3 percent while real PCE decreased 0.1 percent.
Click image for larger view
With real DPI growth essentially stalling on a year-over-year basis, consumers are reducing their rate of saving to maintain their lifestyles. The personal saving rate ticked back up to 4.0 percent in December, but the downward trend remains intact.
Click image for larger view
Click image for larger view
Consumers bumped up spending by 0.1 percent on retail goods in December, but gains were concentrated in the vehicle and food service sectors as the “other” category fell by 0.3 percent.
Click image for larger view
Total
consumer debt outstanding increased substantially again in December, rising by a seasonally adjusted $19.3 billion (9.4 percent annualized). Revolving (mostly credit card) debt rose by $2.8 billion (4.1 percent annualized), while non-revolving debt (mainly student and auto loans) increased $16.6 billion (11.8 percent annualized). Student loans comprised over 64 percent of the gain in the non-revolving loan category.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.