Real Consumer Spending Rose in March

Personal income increased less than 0.1 percent in March after rising 0.4 percent in February. Wages and salaries, the largest chart april 30component of personal income, rose 0.2 percent in March after rising 0.3 percent in February.

Current-dollar disposable personal income (DPI), after-tax income, increased less than 0.1 percent in March after rising 0.5 percent in February.

Real DPI, income adjusted for taxes and inflation, decreased 0.2 percent in March after increasing 0.3 percent in February.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.3 percent in March after decreasing less than 0.1 percent in February. Spending on durable goods increased 2.0 percent in March after decreasing 1.1 percent February.

PCE prices increased 0.2 percent in March, the same increase as in February. Excluding food and energy, PCE prices increased 0.1 percent in March, the same increase as in February.

Personal saving rate
Personal saving as a percent of DPI was 5.3 percent in March and 5.7 percent in February.

For more information, read the full report.

Real DPI April 30

GDP Up Slightly in First Quarter

Real gross domestic product (GDP) increased 0.2 percent in the first quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2014, real GDP increased 2.2 per- cent. In the first quarter, the dollar strengthened against major currencies, imports and exports were delayed be- cause of labor disputes in key ports, energy prices declined, and several regions experienced severe weather.

April 29 GDP Q2Q

First-quarter GDP highlights
The following contributed to the increase in real GDP:

  • Consumer spending increased, mainly on household services.
  • Inventory investment increased, notably in the nondurable-goods manufacturing industry.

These positive contributions to real GDP growth were largely offset by the following:

  • The trade deficit widened in the first quarter, reflecting a decline in goods exports.
  • Business investment declined, notably in mining exploration, shafts, and wells.
  • State and local government spending declined.

Personal income and personal saving
Real disposable personal income (DPI)—personal income adjusted for inflation and taxes—increased 6.2 percent in the first quarter, compared with 3.6 percent in the fourth quarter of 2014. Personal saving as a percentage of current-dollar DPI was 5.5 percent, compared with 4.6 percent.

Q2Q Percent change April 29

First-quarter prices
Prices of goods and services bought by U.S. resi- dents decreased 1.5 percent in the first quarter, after decreasing 0.1 percent in the fourth quarter of 2014. The first-quarter decline was the largest since the first quarter of 2009.

Energy prices declined more than in the fourth quarter. Food prices also fell.

Excluding food and energy, prices increased 0.3 percent in the first quarter after increasing 0.7 percent in the fourth quarter.

For more information, read the full report.

Nondurable Goods Manufacturing Led Growth in the Fourth Quarter Gross Domestic Product by Industry

Nondurable goods manufacturing was the leading contributor to U.S. economic growth in the fourth quarter of 2014. Both private goods- and services-producing sectors contributed to the increase, while the government sector decreased. Overall, 15 of 22 industry groups contributed to the 2.2 percent increase in real GDP.

GDP by industry April 23

  • Durable goods manufacturing increased 0.3 percent following an increase of 7.0 percent, while nondurable goods increased 9.7 percent, after decreasing 6.6 percent.
  • Finance and insurance decreased 7.7 percent after increasing 21.2 percent.
  • Real estate and rental leasing increased 1.5 percent, after increasing 4.4 percent.

Value added April 23

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