Consumers spend, earn, save more in November

U.S. consumers spent more, earned more and saved more in November 2009 than in October 2009. According to the monthly Bureau of Economic Analysis Personal Income and Outlays report, consumers are tempering increased spending by keeping it close to the percentage by which their income is rising and by putting some money aside, as well. U.S. consumers’ personal consumption expenditures (PCE), which essentially reflect consumer spending, increased 0.5% for the month. PCE increased 0.6% in October.

The November spending increase only slightly outpaced consumers’ personal income, which rose 0.4%, and matched disposable personal income (DPI), which rose 0.5%. DPI represents personal income less current personal taxes. In contrast, consumers were more spend-happy in October, when personal income only increased 0.2%, and DPI rose 0.4%.

Personal saving, which has undergone some radical monthly shifts since June 2009, increased 1.6% in November. Earlier this year, personal saving experienced severe declines of 34.5% in August, 10.4% in July and 26.3% in June; but dramatically reversed course in September, increasing 15.8%. However, in October consumers needed to support their increased spending and decreased saving by a relatively moderate 3.9%.

A comparison with the November Advance Monthly Retail Trade Survey from the Census Bureau shows that U.S. retail and food service sales rose 1.3%, from $347.5 billion to $352.1 billion. U.S. retail and food service sales have been in a seesaw pattern in recent months, with sales falling 1.5% in September and 0.2% in July, but rising 2.7% in August and 1.4% in October.

Source: Retailer Daily

1 Response to “Consumers spend, earn, save more in November”

  1. December 28, 2009 at 12:31 pm

    Nice figures..
    and cool survey…
    i have spent my half of the saving of last six months…
    it hurts to spend my saving which i saved for my studies…
    but after looking to the things which i bought and places where i spent my money
    really it satisfies me…

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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December 2009

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