US personal income went up 0.2 percent month-over-month in November of 2018, after rising 0.5 percent in October and missing market expectations of 0.3 percent. The increase primarily reflected hikes in wages and salaries and in farm proprietors’ income that were partially offset by decreases in personal dividend income and social security benefits. Wages and salaries, the largest component of personal income, increased 0.2 percent in November, easing from a 0.4 percent gain in October. Personal Income in the United States averaged 0.53 percent from 1959 until 2018, reaching an all time high of 4.60 percent in May of 2008 and a record low of -4.70 percent in January of 2013.
Personal Income in the United States is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Income in the United States to stand at 0.10 in 12 months time. In the long-term, the United States Personal Income is projected to trend around 0.30 percent in 2020, according to our econometric models.