Consumer Earnings, Savings and Spending

Macroeconomics and Politics
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Consumer Spending Ended 2024 on a strong trajectory

  • Disposable personal income** (DPI) increased $79.7 billion (0.4%) as expected
  • Personal consumption expenditures (PCE) increased $133.6 billion (0.7% vs 0.5% expected)

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  • Real disposal income 2.43% y/y in December 2024
  • Real spending at 3.1% y/y on December

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  • The saving rate is at 3.8%. Have been declining since income growth has been below spending growth for most of 2024

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