Archive for the 'Personal Income' Category

First-Quarter GDP Revised Up

Real gross domestic product (GDP) decreased 0.2 percent in the first quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.5 percentage point from the “second” estimate released in May. In the fourth quarter of 2014, real GDP increased 2.2 percent.June 24 pt 2

GDP highlights
The first-quarter decline in real GDP reflected declines in exports of goods, notably capital goods as well as autos and parts; in business investment, notably in mining exploration, shafts, and wells; and in state and local government spending.

Partly offsetting the contributions to the decline in GDP, consumer spending on services rose, notably on health care and on housing and utilities. Also, inventory investment and housing investment rose.

Revisions
The percent change in first-quarter real GDP was revised up, mainly reflecting up revisions to exports, consumer spending, inventory investment, business investment, and state and local government spending. Partly offsetting these revisions, imports was revised up.

For more information, see the technical note.

Personal income and personal saving
Real disposable personal income (DPI) – personal income adjusted for inflation and taxes – increased 5.3 percent in the first quarter, compared with 4.1 percent in the fourth quarter. Personal saving as a percentage of current-dollar DPI was 5.4 percent, compared with 4.7 percent in the fourth quarter.

GDP June 24

Corporate profits
Corporate profits decreased 5.2 percent at a quarterly rate in the first quarter after decreasing 1.4 percent in the fourth quarter of 2014.

  • Profits of domestic nonfinancial corporations fell 6.1 percent after rising 1.4 percent.
  • Profits of domestic financial corporations fell 0.5 percent after falling 2.7 percent.
  • Profits from the rest of the world fell 7.7 percent after falling 8.8 percent.

Over the last 4 quarters, corporate profits increased 4.5 percent.

For more information, read the full report.

State Personal Income: First Quarter 2015

State personal income grew 0.9 percent on average in the first quarter of 2015, after growing 1.1 percent in the fourth quarter of 2014. Personal income grew in 46 states and growth accelerated in 15 of those states. The fastest growth, 1.3 percent, was in Florida. Personal income fell in four states, with the largest decline, 1.2 percent, in Iowa. The national price index for personal consumption expenditures, fell 0.5 percent in the first quarter, after falling 0.1 percent in the fourth quarter.

Personal Income June 22

1st qtr june22

For more information, read the full report.

Disposable Income Rises in April

Personal income increased 0.4 percent in April after increasing less than 0.1 percent in March. Wages and salaries, the largestPersonal Income and Outlays June1 component of personal income, rose 0.2 percent in April after rising 0.1 percent in March.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in April after rising less than 0.1 percent in March, reflecting increases in income receipts on assets and wages and salaries.

Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in April after decreasing 0.2 percent in March.

Real consumer spending (PCE), spending adjusted for price changes, decreased less than 0.1 percent in April after increasing 0.4 percent in March. Spending on durableĀ  goods decreased 0.8 percent in April after increasing 2.1 percent in March.

PCE prices increased less than 0.1 percent in April, after increasing 0.2 percent in March. Excluding food and energy, PCE prices increased 0.1 percent in April, the same increase an in March.

Personal saving rate
Personal saving as a percent of DPI was 5.6 percent in April and 5.2 percent in March.

For more information, read the full report.

Real Consumer Spending June1