Monday, March 30, 2015

Personal Income Increased in February

Personal income increased $58.6 billion, or 0.4%, in February according to the Bureau of Economic Analysis, consistent with January’s revised estimate. Although nominal personal consumption expenditures (PCE) increased $11.8 billion (0.1%), real PCE decreased by 0.1% in February when adjusted for changes in price.

Real disposable personal income (personal income less personal current taxes) increased 0.2%, compared to a 0.9% increase in January.

The price index for PCE increased 0.2% in February, compared with a 0.4% decrease in January. The PCE index excluding food and energy increased 0.1%, consistent with January’s increase.

Private wages and salaries increased $21.9 billion in February, down sharply from a $44.2 billion increase in January, as the goods-producing and manufacturing sectors added little to their payrolls.

Proprietors’ income decreased $7.0 billion for the month compared with an $11.7 billion decrease in January. Rental income increased $3.9 billion, up from $1.8 billion.

The personal savings rate was 5.8%, up from 5.5% the previous month.

Read the BEA release

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