US Personal Income Growth Moderates to 0.3% in November, Below Expectations
US personal income increased by 0.3% month-over-month in November, representing a slowdown from October's 0.4% growth rate. The figure also missed economist expectations of 0.4%, indicating a moderation in the pace of personal income expansion during the month.
*this image is generated using AI for illustrative purposes only.
The United States reported a 0.3% month-over-month increase in personal income for November, marking a deceleration from the previous month's performance. The latest figure came in below both the previous month's reading and economist expectations.
November Personal Income Performance
The November personal income data revealed a modest growth trajectory, with the month-over-month increase settling at 0.3%. This represents a notable slowdown compared to October's stronger performance.
| Metric | November Actual | Previous Month | Economist Estimate |
|---|---|---|---|
| Personal Income (MoM) | 0.3% | 0.4% | 0.4% |
Comparison with Expectations
The actual November reading of 0.3% fell short of the consensus estimate of 0.4% that economists had projected. This miss suggests that personal income growth faced some headwinds during the month, with the pace of increase moderating from October's level.
The data shows that personal income growth has experienced a sequential decline, moving from 0.4% in October to 0.3% in November. This represents a 0.1 percentage point decrease in the month-over-month growth rate.
Economic Context
Personal income serves as a key indicator of consumer financial health and spending capacity within the US economy. The November figure of 0.3% indicates continued positive growth, albeit at a more moderate pace than the previous month and below market expectations.
The sequential moderation from 0.4% to 0.3% reflects the dynamic nature of income trends in the current economic environment. While growth remained positive, the pace of expansion showed signs of cooling during November.
20
