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Tuesday, August 20, 2019
HomeNewsEconomyPersonal Income and Outlays: Wages, Consumer Spending Gain

Personal Income and Outlays: Wages, Consumer Spending Gain

People count money at Macy's Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York, November 26, 2015. (Photo: Reuters)
People count money at Macy's Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York, November 26, 2015. (Photo: Reuters)

People count money at Macy’s Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York, November 26, 2015. (Photo: Reuters)

The Bureau of Economic Analysis (BEA) Personal Income and Outlays report estimates income rose by $49.5 billion, or 0.3% in April. Disposable personal income (DPI) increased $60.9 billion (0.4%).

Consumer spending will be the first estimated component for gross domestic product (GDP) in the second quarter for 2018, and it was only expected to rise by 0.4%.

However, personal consumption expenditures (PCE) gained $79.8 billion (0.6%). That $42.8 billion gain in real PCE in April reflected an increase of $15.4 billion in spending for goods and a $27.5 billion increase in spending for services.

Real DPI increased 0.2% in April and Real PCE increased 0.4%. The PCE price index increased 0.2%. Excluding food and energy, the PCE price index increased 0.2%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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