Monday, June 1, 2015

Personal Income Increases, Expenditures Fall Flat

Personal income increased $59.4 billion, or 0.4%, in April according to the Bureau of Economic Analysis, compared to the less than 0.1% increase the previous month. Personal consumption expenditures decreased $2.6 billion, or less than 0.1% in April, following an increase of 0.5% in March.

Disposable personal income — personal income less personal current taxes — increased $48.8 billion, or 0.4% in April, after being flat in March. Real disposable income increased 0.3%, compared to a 0.2% decrease the previous month.

The personal savings rate was 5.6%, up 4 basis points from March.

Private wages and salaries increased $15.7 billion, compared with an increase of $8.4 billion in March. Goods-producing industries’ payrolls increased $1.5 billion, manufacturing payrolls increased $0.4 billion, services-producing industries increased $14.2 billion and government wages and salaries increased $2.0 billion.

Supplements to wages and salaries increased $4.3 billion in April, compared with an increase of $3.8 billion in March. Proprietors' income increased $2.5 billion in April, in contrast to a decrease of $0.5 billion the previous month.

The price index for PCE increased less than 0.1% in April, compared with an increase of 0.2% in March. The PCE price index, excluding food and energy, increased 0.1% in April, consistent with March.

Read the BEA release.

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