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Thursday, April 30, 2015

Personal Income Growth Slowed in March

Personal income increased $6.2 billion, or less than 0.1% in March, according to the Bureau of Economic Analysis — a sharp decline from February’s estimate. Personal consumption expenditures (PCE) increased $53.4 billion, or 0.4%, after a gain of 0.2% in February

Although nominal disposable personal income (DPI) increased $1.6 billion, real DPI actually decreased 0.2% in March.

The price index (deflator) for PCE increased 0.2% in March, consistent with February’s increase. The PCE price index (deflator) excluding food and energy increased 0.1%, the same increase as in February.

Private wages and salaries increased $15.2 billion in March, down from $22.6 billion in February, as the services sector declined by nearly half.

Proprietors’ income decreased $1.5 billion in March after falling $7.7 billion in February. Rental income increased $3.2 billion in March. Personal income receipts on assets decreased by $33.1 billion, after increasing $29.7 billion in February.

Read the BEA release

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