(Suitland, MD – Insurance News 360) – The Bureau of Economic Analysis released a report on the November 2018 personal income and outlays of individuals in the United States. The report, released on Dec. 18, 2018 revealed that personal income increased by .2 percent ($40.2 billion) during the month of November; disposable personal income increased by $37.8 billion, and personal consumption expenditures increased by $54.4 billion.
The BEA notes that the personal income increase comes mostly from farm proprietors’ income, increases in wages and increases in salaries. These were offset by personal dividend income and social security benefits. Farm proprietors’ income rose by $14.9 billion, including subsidy paymenst from the Department of Agriculture’s Market Facilitation Program.
Personal outlays rose by $56.6 billion, and personal saving was $944.2 billion. The personal saving rate was 6 percent.
Source: Bureau of Economic Analysis, U.S.