Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income jumped up 1.0 percent (non-annualized) in January, largely as tax changes boosted disposable personal income by 0.7 percent. Still, employee compensation rose 0.4 percent during the month. Had the tax changes not occurred, the release noted that disposable personal income would have just edged up 0.1 percent in January, following a 0.4 percent gain in December. Nominal personal consumption expenditures increased 0.2 percent in January, though after adjusting for price effects, slipped down 0.1 percent during the month (its first monthly decline in nine months). Still, real consumption is up 2.8 percent over the past year, in line with its 20-year average. As a result of the large jump in disposable income outpacing consumption growth, the personal savings rate increased by 0.4 percentage point to 5.8 percent in January (its first increase since last June).