Personal income rose by $116.5 billion or 0.6% in January according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI) also rose 0.6%, or by $101.4 billion, while personal consumption expenditures (PCE) rose$29.6 billion (0.2%).
Forecasts for personal income ranged from a low of 0.3 % to a high of 0.5%. The consensus forecast was only 0.3%.
Real DPI gained 0.5% for the month and Real PCE ticked higher by 0.1%. The PCE price index also rose 0.1%. Excluding food and energy, the so-called core PCE price index also increased by 0.1%.