Incomes of the US population in November increased as expected
The agency also confirmed the assessment of the dynamics of income growth of the country's population in October, it is still estimated at 0.5%. And the estimate of spending growth in October was changed to 1.4% from 1.3%. In addition, the disposable income of the population in the United States in November increased by 0.4% compared to October, but real disposable income, expressed taking into account the value of the dollar in 2012, decreased by 0.2%.
Personal consumption expenses include three main components - the purchase of durable and short-term goods, as well as payment for services. The increase in spending is generally considered a positive signal for the economy, signaling GDP growth. However, it may also indicate an acceleration of inflation.
The indicator is published together with another indicator - disposable incomes, which characterize the purchasing power of the population. When calculating this indicator, wages, income from entrepreneurial activity, pensions, scholarships, various benefits, social insurance payments, income from property in the form of interest, dividends, funds from the sale of securities, real estate minus mandatory payments, primarily taxes, are taken into account.