The increase in consumer spending outstripped the rise in incomes in January.
Figures released by the Commerce Department show personal income rose 0.3% -- to $43.9 billion last month, with disposable personal income (DPI) -- personal income less personal current taxes -- up 0.4% to $45.2 billion. In December, both personal income and DPI dipped about 0.1%.
Personal consumption expenditures (PCE) totaled $48.1 billion, up 0.4% percent, following December's increase revised increase of 0.1%, which was originally reported as a gain of 0.4%.
Wages and salaries
Private wages and salaries rose $14.8 billion in January, after falling $9.1 billion the month before. Goods producing industries' payrolls increased $1.8 billion, compared with an increase of $1.7 billion; manufacturing payrolls decreased $0.4 billion, in contrast to an increase of $0.2 billion. Services-producing industries' payrolls added $13.0 billion, in contrast to a drop of $10.8 billion.
Government wages and salaries rose $0.6 billion in January, compared after jumping $1.3 billion in December. Pay raises for civilian and military personnel added $2.2 billion to government payrolls in January.
Personal outlays and saving
Personal outlays -- which include PCE, personal interest payments, and personal current transfer payments -- soared $49.7 billion in January, compared with an increase of $4.5 billion in December.
Personal saving -- DPI less personal outlays -- fell for a second straight month, totaling $540.1 billion in January, compared with $544.5 billion in December. Still, the personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.3% in January, the same rate as in December.
The complete report can be found on the Bureau of Economic Analysis website.