Income and Outlays Update for Oct. and Nov. 2025: Steady Numbers, Unequal Impact (Bob is Thinking About Escanomics)

You may be interested in the latest personal income and outlays data for October and November 2025. Overall, the numbers suggest that conditions are relatively positive. A few indicators of instability but have not shown up yet because they have a longer trajectory line and are under the threshold of causing issues at this point (Non-standard economic metrics). All in all on a top line level we are doing well even though people are feeling a pinch with average folk finances. 

(Illustrative only)
Bob is trying to make
sense out of the national numbers
and the K Shape economy. 
He is unsure if the average
folks are making it as
much as these numbers indicate.
He wonders if they are a little
skewed toward the wealthy
spending and savings.
He is happy he started
his shop in Escanaba
as it has more of an
Escanomics shaped economy
where its 
affordable to live, work,
and run a business. They
don't always feel the sting 
of economic bouncing. 
He thinks that maybe
economics cluster design
may smooth
the impact of economic
cycles in the future.

GDP has risen as well, so it is reasonable to expect some growth in disposable income and savings alongside that expansion.

At the same time, some analysts argue that the gains are being driven primarily by wealthier consumers, pointing to a K-shaped economy in which higher-income households continue to fare better than others.

A few highlights from Personal Income and Outlays, October and November 2025:

• Personal income rose slightly in both months, increasing 0.1 percent in October and 0.3 percent in November.

• After taxes, disposable personal income also rose 0.1 percent in October and 0.3 percent in November.

• Consumer spending, measured by personal consumption expenditures (PCE), increased 0.5 percent in both October and November.

• The PCE price index, which is a key measure of inflation, rose 0.2 percent month-to-month in both months.

• On a year-over-year basis, the PCE price index increased 2.7 percent in October and 2.8 percent in November.

• The personal saving rate declined from 3.7 percent in October to 3.5 percent in November.

• The report combined the two monthly releases because the recent government shutdown delay.

Trading Economics has some nice charts and graphs for many countries you can browse through.  The Wolf has some interesting comments.