Economy

Personal Income Posted Solid Gains in April, Beating Forecasts

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

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.

	Prior	Consensus Forecast	Forecast Range	Actual
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%.

READ FULL STORY

Subscribe Sign In

PPD Business Staff

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.