Research >> Economics
Personal Income increased 0.5%, Spending increased 0.3%
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Personal income increased $92.8 billion (0.5 percent) in April according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $69.3 billion (0.4 percent) and personal consumption expenditures (PCE) increased $40.8 billion (0.3 percent).
Real DPI increased 0.1 percent in April and Real PCE decreased less than 0.1 percent. The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
The increase in personal income in April primarily reflected increases in personal interest income, wages and salaries, and government social benefits to persons.
The $3.7 billion decrease in real PCE in April reflected a decrease of $5.4 billion in spending for services that was partly offset by a $2.4 billion increase in spending for goods (table 7). Within services, the largest contributor to the decrease was spending for household electricity and gas. Within goods, spending for gasoline and other energy goods was the leading contributor to the increase. Detailed information on monthly real PCE spending can be found in Table 2.3.6U.
Personal outlays increased $42.7 billion in April (table 3). Personal saving was $990.3 billion in April and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2 percent (table 1).
Posted: May 31, 2019 Friday 08:30 AM