The Bureau of Economic Analysis (BEA) / U.S. Department of Commerce released a Personal Income and Outlays report for December, 2025.
Personal income increased $86.2 billion (0.3 percent at a monthly rate) in December, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $75.7 billion (0.3 percent), and personal consumption expenditures (PCE) increased $91.0 billion (0.4 percent).
This report for December 2025, originally scheduled for January 29, 2026, was rescheduled due to the October–November 2025 government shutdown.
Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $90.2 billion in December. Personal saving was $830.8 billion in December, and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.6 percent.
The increase in current-dollar personal income in December primarily reflected increases in personal current transfer receipts and compensation.
The $91.0 billion increase in current-dollar PCE reflected an increase of $98.5 billion in spending on services and a decrease of $7.5 billion in spending on goods.
Real PCE increased $11.5 billion (0.1 percent at a monthly rate) in December.
From the preceding month, the PCE price index for December increased 0.4 percent. Excluding food and energy, the PCE price index also increased 0.4 percent.
From the same month one year ago, the PCE price index for December increased 2.9 percent. Excluding food and energy, the PCE price index increased 3.0 percent from one year ago.
