Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income was unchanged in February, following an upwardly revised 0.3 percent gain in January. The 12-month growth rate in personal income is now up 2.0 percent, a recent high, though still well short of the roughly 5.0 percent growth rate seen in the months before the recession. Wage and salary growth and disposable income were also flat in February. As disposable income growth has stalled recently, the savings rate has continued to edge away from its May 2009 peak of 6.4 percent, slipping down to 3.1 percent in February. Nominal personal consumption expenditures rose for the fifth consecutive month, increasing 0.3 percent in February. After adjusting for price effects, real consumption was still up 0.3 percent during the month, and it is up 1.6 percent over the last year. The overall consumption gain came on a strong (0.9 percent) jump in purchases for nondurables and a modest increase in spending on services. Consumption of durables slipped down 0.2 percent in February, following a 0.7 percent decrease in January, though it is still up 3.2 percent on a year-over-year basis.