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Saturday, June 15, 2019
HomeNewsEconomyPersonal Income Posted Solid Gains in April, Beating Forecasts

Personal Income Posted Solid Gains in April, Beating Forecasts

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

Personal Income Gained 0.5%, Consumer Spending By 0.3%, Beating Forecasts

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) said personal income gains beat the consensus forecast in April, rising $92.8 billion (0.5%). The reflected increases were fueled by personal interest income, wages and salaries, and government social benefits to persons.

PriorConsensus ForecastForecast RangeActual
Personal Income – M/M ∆0.1 %0.3 %0.1 % to 0.4 %0.5%
Consumer Spending – M/M ∆0.9 %0.2 %0.1 % to 0.3 %0.3%
PCE Price Index M/M ∆0.2 %0.3 %0.2 % to 0.3 %0.3%
Core PCE price index – M/M ∆0.0 %0.2 %0.0 % to 0.3 %0.2%
PCE Price Index Y/Y ∆1.5 %1.6 %1.5 % to 1.6 %1.5%
Core PCE price index – Yr/Yr ∆1.6 %1.6 %1.5 % to 1.7 %1.6%

Disposable personal income (DPI) rose $69.3 billion (0.4%) and personal consumption expenditures (PCE) gained $40.8 billion (0.3%).

Real DPI increased 0.1% in April and Real PCE decreased less than 0.1%. The PCE price index increased 0.3%. Excluding food and energy, the PCE price index increased 0.2%.

Meanwhile, personal outlays increased $42.7 billion in April (table 3). Personal saving was $990.3 billion in April and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2%.

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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