Personal income in May 2011 rose 0.3%. Nominal personal consumption expenditures (PCE) were virtually unchanged and real PCE declined 0.1%. Nominal disposable personal income (DPI) increased 0.2% and real DPI rose 0.1%. The personal saving rate as a percentage of DPI was 5.0% in May.
Personal income in April 2011 rose 0.4 %. Nominal personal consumption expenditures (PCE) increased 0.4% and real PCE increased 0.1%. Nominal disposable personal income (DPI) rose 0.3% and real DPI was virtually unchanged. The personal saving rate as a percentage of DPI was 4.9% in April.
Personal income in March 2011 rose 0.5%. Nominal personal consumption expenditures (PCE) increased 0.6% and real PCE rose 0.2%. Nominal disposable personal income (DPI) increased 0.6% and real DPI rose 0.1%. The personal saving rate as a percentage of DPI was 5.5% in March.
Personal income in February 2011 rose 0.3%. Nominal personal consumption expenditures (PCE) increased 0.7% while real PCE rose 0.3%. Nominal disposable personal income (DPI) increased 0.3% while real DPI fell 0.1%. The personal saving rate as a percentage of DPI was 5.8% in February.
First and foremost, income drives consumer spending; that’s why the Commerce Department’s Bureau of Economic Analysis monthly release of income receives so much attention. Today’s release showed that income increased 0.3 percent and the gains in January and February were revised upward (January’s report initially showed a 1.0 percent leap and is now estimated to have increased by 1.2 percent, and December’s gain was revised from 0.4 percent to 0.5 percent -- we’ll talk more about revisions to several economic series later in the week). Recall that January’s outsized gain was driven largely by the lower tax withholdin
