Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income climbed 0.4 percent (nonannualized) in April following an identical increase in March. The 12-month growth rate slipped slightly from its recent high in March, from 2.8 percent down to 2.5, but remains higher than any other month since September 2008. Disposable personal income (peronal income less current taxes) rose 0.5 percent while nominal consumption expenditures were flat, resulting in a personal savings rate (as a percentage of disposable income) of 3.6 percent, up from 3.1 percent in March. April’s flat consumption follows six straight monthly gains, which have lifted year-over-year growth to 4.6 percent, up from a record low of −2.0 percent in the midst of the recession. The personal savings rate has edged down from its peak last May of 6.4 percent, as consumers’ spending has outpaced income growth in seven of the eleven months since then. After adjusting for price effects, real income was still up 0.4 percent in April, and personal consumption expenditures still came in flat.