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Disposable Personal Income Rises in January

pi-jan-2018Personal income increased 0.4 percent in January, the same increase as in December. Wages and salaries, the largest component of personal income, increased 0.5 percent in January after increasing 0.4 percent in December.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.9 percent in January after increasing 0.4 percent in December.

Real DPI, income adjusted for taxes and inflation, increased 0.6 percent in January after increasing 0.2 percent in December.

Real consumer spending (PCE), spending adjusted for price changes, decreased 0.1 percent in January after increasing 0.2 percent in December. Spending on durable goods decreased 1.6 percent in January after increasing 0.6 percent in December.

PCE prices increased 0.4 percent in January after increasing 0.1 percent in December. Excluding food and energy, PCE prices increased 0.3 percent in January after increasing 0.2 percent in December.

Personal saving rate
Personal saving as a percent of DPI was 3.2 percent in January after 2.5 percent in December.

For more information, read the full report.


GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 2.5 percent in the fourth quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

Fourth-quarter GDP highlightsGrowth Real GDP
The increase in real GDP reflected an increase in consumer spending, exports, business investment, housing investment, as well as state and local and federal government spending. These contributions were partly offset by a decline in inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

RevisionsPercent Change GDP
The downward revision to real GDP growth reflected a downward revision to consumer spending on goods, and a small downward revision to inventory investment. These downward revisions were partly offset by upward revisions to
consumer spending on services and to housing investment.

Prices of goods and services purchased by U.S.
residents increased 2.5 percent in the fourth
quarter after increasing 1.7 percent in the third
quarter. Excluding energy and food, prices rose 1.9
percent after increasing 1.6 percent.

Annual GDP growthAnnual Growth Feb 28
For the year 2017, real GDP increased 2.3 percent, compared with 1.5 percent in 2016.  The increase in real GDP in 2017 reflected increases in consumer spending, business investment, exports, housing investment, and government spending.


These contributions were partly offset by a decline in inventory investment. Imports increased.

For more information, read the full report.

Coming Attraction: See How Arts and Culture Impact Every State

The Bureau of Economic Analysis is lifting the curtain on the role arts and culture play in each state’s economy.

On March 6, BEA will premiere statistics showing for the first time how much arts and culture contribute to the gross domestic product, or GDP, of all 50 states and the District of Columbia. The arts and cultural economy includes music, theater, design, museums, historic sites, natural parks and more, as well as supporting industries such as broadcasting, filmmaking and publishing.

The report will also feature state summary sheets, making it easy to see each state’s leading arts and cultural industries, employment and compensation of employees, growth trends, national rankings, and other highlights.

Nationwide statistics will spotlight the trends for arts and cultural contributions to U.S. GDP, gross output, employment and compensation.

The report to be released Tuesday, March 6, at 10 a.m. Eastern time will provide the first estimates for 2015 and update previously released statistics for 2013 and 2014.

The Arts and Cultural Production Satellite Account is supported by funding from the National Endowment for the Arts. Satellite accounts complement BEA’s core statistics by pulling together additional detail on specific industries, such as travel and tourism or outdoor recreation. Painting a more detailed portrait of the arts and cultural economy benefits arts organizations, businesses, economic developers, policymakers and others interested in this prominent part of the economy.

Find more information and previously released reports on the arts and culture page at

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