WASHINGTON—Americans’ personal income increased $32.9 billion, or 0.2%, and disposable personal income (DPI) increased $23.4 billion, or 0.2%, in October, according to the Bureau of Economic Analysis.
Real DPI increased 0.1% in October, the BEA said, the same increase as in September. Real PCE increased 0.2% in October, in contrast to a decrease of less than 0.1% in September, the agency noted.
The BEA said private wages and salaries increased $18.8 billion in October, compared with an increase of $13.9 billion in September. Goods-producing industries' payrolls increased $7.2 billion, compared with an increase of $2.4 billion; manufacturing payrolls increased $4.4 billion, compared with an increase of $0.7 billion. Services-producing industries' payrolls increased $11.6 billion, compared with an increase of $11.3 billion. Government wages and salaries increased $1.4 billion, compared with an increase of $1.8 billion.
Supplements to wages and salaries increased $3.8 billion in October, compared with an increase of $3.9 billion in September.
The BEA said proprietors' income increased $7.4 billion in October, in contrast to a decrease of $1.6 billion in September. Farm proprietors' income decreased $1.2 billion, compared with a decrease of $10.1 billion. Nonfarm proprietors' income increased $8.6 billion, compared with an increase of $8.5 billion.
Personal saving—DPI less personal outlays—was $651.2 billion in October, compared with $654.0 billion in September. The personal saving rate—personal saving as a percentage of disposable personal income—was 5.0% in October, the same as in September.
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