Personal outlays -- PCE, personal interest payments, and personal current transfer payments increased $45.2 billion in September, in contrast to a decrease of $47.3 billion in August. PCE increased $44.1 billion, in contrast to a decrease of $48.4 billion.

Personal saving -- DPI less personal outlays -- was a negative $32.0 billion in September, compared with a negative $158.0 billion in August. Personal saving as a percentage of disposable personal income was a negative 0.4 percent in September, compared with a negative 1.8 percent in August. Negative personal saving reflects personal outlays that exceed disposable personal income. Saving from current income may be near zero or negative when outlays are financed by borrowing (including borrowing financed through credit cards or home equity loans), by selling investments or other assets, or by using savings from previous periods.


Real DPI and real PCE

Real DPI -- DPI adjusted to remove price changes -- increased 1.0 percent in September, in contrast to a decrease of 1.5 percent in August.

Real PCE – PCE adjusted to remove price changes -- decreased 0.4 percent in September, compared with a decrease of 1.0 percent in August. The decrease in real PCE in September, in contrast to the increase in current-dollar PCE, reflects an increase in the PCE implicit price deflator. Purchases of durable goods decreased 2.4 percent, compared with a decrease of 8.6 percent. Purchases of motor vehicles and parts accounted for most of the decreases in September and August. Purchases of nondurable goods decreased 1.0 percent in September, in contrast to an increase of 0.1 percent in August. Purchases of services increased 0.3 percent, compared with an increase of 0.2 percent.



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