Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income rose 0.1 percent (nonannualized) in January, the smallest of six consecutive increases. This follows a downwardly revised increase of 0.3 percent in December and brings the series’ 12-month growth rate to 1.1 percent, its first positive growth rate since December 2008. Private industry wages and salaries rose a relatively strong 0.3 percent. Disposable personal income fell 0.4 percent, its first loss since July. Personal savings as a percentage of disposable income fell 0.9 percentage points to 3.3 percent, the lowest level since October 2008, though it is still well above the 1.4 percent savings rate seen at the beginning of the recession. Nominal personal consumption expenditures rose 0.5 percent for the third time in four months. “Real” personal consumption, which adjusts for price effects, climbed 0.3 percent in January to its highest level since May 2008, though its 12-month growth rate is 0.3 percentage point lower than last month’s, at 1.4 percent.