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Sunday, May 26, 2019
HomeNewsEconomyPersonal Income and Outlays for February, March Both Gain Less-than-Expected

Personal Income and Outlays for February, March Both Gain Less-than-Expected

American flag and U.S. dollar financial and economy concept. (Photo: AdobeStock)
American flag and U.S. dollar financial and economy concept. (Photo: AdobeStock)
American flag and U.S. dollar financial and economy concept. (Photo: AdobeStock)

The Bureau of Economic Analysis (BEA) reported personal income and outlays for both March and February, which were both less-than-expected positive gains.

Personal income increased $11.4 billion (0.1%) in March. The consensus forecast was looking for a 0.4%, ranging from a low of 0.3% to a high of 0.5%. Disposable personal income (DPI) rose $0.6 billion, (less than 0.1%) and personal consumption expenditures (PCE) gained $123.5 billion (0.9%).

MarchConsensusForecast RangeActual
Personal Income – M/M ∆0.4%0.3% — 0.5%0.1%
Consumer Spending – M/M ∆0.7%0.5% — 0.8%0.9%
PCE Price Index M/M ∆0.3%0.2% — 0.4%0.2%
Core PCE price index – M/M ∆0.1%0.0% — 0.2%0.0%
PCE Price Index Y/Y ∆1.7%1.6% — 1.9%1.5%
Core PCE price index – Yr/Yr ∆1.7%1.6% — 1.9%1.6%

Personal outlays rose $126.5 billion in March, while personal saving came in at $1.03 trillion. The personal saving rate, which is defined as personal saving as a percentage of disposable personal income, was 6.5%.

February Personal Income and Outlays

Due to the partial government shutdown in the first quarter of 2019, the BEA also released a more complete personal income and outlays report for February.

Personal income increased $35.6 billion (0.2%) in February. The consensus forecast was looking for a 0.3%, ranging from a low of 0.1% to a high of 0.4%. Disposable personal income rose $23.0 billion (0.1%), and personal consumption expenditures gained by $11.7 billion (0.1%).

FebruaryPriorConsensusForecast RangeActual
Personal Income – M/M ∆-0.1%0.3%0.1% — 0.4%0.2%
Consumer Spending – M/M ∆0.1%0.3%0.1% — 0.6%0.1%
PCE Price Index M/M ∆-0.1%0.2%0.2% — 0.2%0.1%
Core PCE price index – M/M ∆0.1%0.1%0.1% — 0.2%0.1%
PCE Price Index Y/Y ∆1.4%1.3%
Core PCE price index – Y/Y ∆1.8%1.8%1.7% — 1.8%1.7%

Personal outlays rose $14.8 billion in February, while the personal saving came in at $1.16 trillion. The personal saving rate was 7.3%.

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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