Archive for the 'Personal Income' Category



Real Consumer Spending Falls in April

PI_5_30_14Personal income increased 0.3 percent in April after increasing 0.5 percent in March. Wages and salaries, the largest component of personal income, increased 0.2 percent after increasing 0.6 percent.

Current-dollar disposable personal income (DPI),
after-tax income, increased 0.3 percent in April after increasing 0.5 percent in March.

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

Real consumer spending, spending adjusted for price changes, decreased 0.3 percent in April after increasing 0.8 percent in March. Spending on durable goods decreased 0.5 percent after increasing 3.7 percent.

PCE prices increased 0.2 percent in April, the same as in March. Excluding food and energy, PCE prices rose 0.2 percent in April, the same as in March.

Personal saving rate
Personal saving as a percent of DPI was 4.0 percent in April and 3.6 percent in March.

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PI_Chart_5_30_14

Real Consumer Spending Rises in March

PI_5_1_14_TablePersonal income increased 0.5 percent in March after increasing 0.4 percent in February. Wages and salaries, the largest component of personal income, increased 0.6 percent after increasing 0.3 percent.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in March after increasing 0.4 percent in February.

Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in March, the same increase as in February.

Real consumer spending, spending adjusted for price changes, increased 0.7 percent in March after increasing 0.4 percent in February. Spending on durable goods increased 2.7 percent after increasing 1.3 percent. Purchases of motor vehicles and parts accounted for more than half of the March increase.

PCE prices increased 0.2 percent in March after increasing 0.1 percent in February. Excluding food and energy, PCE prices rose 0.2 percent in March.

Personal saving rate
Personal saving as a percent of DPI was 3.8 percent in March and 4.2 percent in February.

PI_5_1_14_Chart

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GDP Growth Slows in First Quarter

GDP_4_30_14 Real gross domestic product (GDP) increased 0.1 percent in the first quarter of 2014, according to the “advance” estimate released today by the Bureau of Economic Analysis. In the fourth quarter of 2013, the growth rate was 2.6 percent.

First-quarter GDP highlights
The slowdown in real GDP growth reflected:

  • A downturn in exports. Exports of industrial supplies and materials as well as foods, feeds, and beverages declined after increasing in the fourth quarter.
  • A downturn in business investment. Spending on transportation equipment fell after rising significantly in the fourth quarter. Spending on computers and peripherals also turned down.
  • A larger decrease in inventory investment. Inventory investment by retail trade companies (mainly motor vehicles dealers) declined significantly after an increase in the fourth quarter.
  • A slowdown in consumer spending, mainly in nondurable goods, notably clothing and footwear as well as food and beverages. These movements were partly offset by faster growth in utilities and healthcare.

In contrast, federal government spending turned up, and imports declined after increasing in the fourth quarter.

Personal income and personal saving
Real disposable personal income (DPI)–personal income adjusted for inflation and taxes–increased 1.9 percent in the first quarter, compared with 0.8 percent in the fourth quarter of 2013. Personal saving as a percent of current -dollar DPI was 4.1 percent, compared with 4.3 percent.

First-quarter prices
GDP_Prices_4_30_14Prices of goods and services bought by U.S. residents rose 1.4 percent in the first quarter, after rising 1.5 percent in the fourth quarter of 2013.

Both energy prices and food prices turned up.

Excluding food and energy, prices increased 1.4 percent in the first quarter after rising 1.8 percent in the fourth quarter.

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