Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income rose 0.5 percent (non-annualized) in March, following a 0.4 percent gain in February. On a year-over-year basis, personal income is up 5.3 percent (its highest growth rate since June 2008). Disposable personal income increased 0.6 percent in March and is up 4.6 percent over the past year. After adjusting for price changes, “real” disposable personal income ticked up 0.1 percent in March and is up 2.7 percent over the past year. Real personal consumption expenditures rose 0.2 percent during the month, following upwardly revised gains in January and February. Momentum as been to the upside recently, as both the 3- and 6-month annualized growth rates in real consumption—which stand at 3.1 percent and 3.4 percent, respectively—are higher than its longer-term (12-month) growth rate (2.7 percent). The personal savings rate remained at 5.5 percent in March—a level its been oscillating around over the last six months or so.