Personal income increased $92.0 billion (0.4 percent at a monthly rate) in December, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)-personal income less personal current taxes-increased $79.7 billion (0.4 percent) and personal consumption expenditures (PCE) increased $133.6 billion (0.7 percent). Personal outlays-the sum of PCE, personal interest payments, and personal current transfer payments-increased $129.5 billion in December. Personal saving was $843.2 billion in December and the personal saving rate-personal saving as a percentage of disposable personal income-was 3.8 percent. Full Text

Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024, according to the advance estimate. In the third quarter, real GDP increased 3.1 percent. The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. Full Text