USD28 August 2026 at 10:10
US January 2026 personal income and spending: DPI up, PCE higher, saving rate at 4.5%
Mixed signalsHigh for understanding the household side of US macro conditions.
BEA estimates for January show personal income up $113.8bn (0.4%), with disposable personal income (after personal current taxes) increasing $219.9bn. PCE rose $81.1bn (0.4%) and personal outlays increased $85.8bn. Personal saving was $1.05trn and the saving rate came in at 4.5%.
Why this matters for FX
This is relevant macro context on US household income, spending, and saving—key inputs into the consumption-growth link that influences rate expectations and risk sentiment in FX. The higher saving rate relative to the April figure (as shown across these candidates) also helps frame how sustainable demand might be.
Consumer demandHousehold income and taxesHousehold savingUS macro data