Research >> Economics
Personal Income up 1.4%, Spending up 0.7%
Personal income increased $167.1 billion, or 1.4 percent, and disposable personal income (DPI) increased $178.1 billion, or 1.6 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $25.1 billion, or 0.3 percent. In April, personal income increased $78.3 billion, or 0.7 percent, DPI increased $140.0 billion, or 1.3 percent, and PCE increased $1.0 billion, or less than 0.1 percent, based on revised estimates. The pattern of changes in personal income and in DPI reflect, in part, the pattern of increased government social benefit payments associated with the American Recovery and Reinvestment Act of 2009.
Real DPI increased 1.6 percent in May, compared with an increase of 1.2 percent in April. Real PCE increased 0.2 percent,in contrast to a decrease of 0.1 percent in April.
Posted: June 26, 2009 Friday 08:30 AM