Americans' personal income rise $230.2B in 4th qtr.

Personal savings was $815.5B in October-December period

By Ovunc Kutlu

ISTANBUL (AA) - Americans' personal income increased by $230.2 billion in the fourth quarter of 2023, according to the Commerce Department on Thursday.

The figure was an upward revision of $10.7 billion from the previous estimate that was made last month.

"The increase primarily reflected increases in compensation, personal income receipts on assets, and proprietors' income," the Commerce Department said in a statement.

Disposable personal income rose $190.4 billion, or 3.8%, which is a downward revision of $12.1 billion from the previous estimate.

Personal savings, meanwhile, was $815.5 billion in the October-December period, an upward revision of $6.3 billion from the earlier estimate.

The personal saving rate, which is personal saving as a percentage of disposable personal income, was 4%, an upward revision of 0.1 percentage point.

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