Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income increased 0.3 percent (non-annualized) in January following a 0.5 percent increase in December, and is up 3.6 percent on a year-over-year basis. Disposable personal income (DPI)—personal income less current taxes—had only a slight 0.1 percent increase in January after a 0.4 percent increase in December. The report indicates that DPI would have been closer to 0.2 percent if not for a few special factors that affected January’s data, including a boost in current personal taxes. Those same factors would have impacted “real” disposable personal income—DPI adjusted for price changes—which was down 0.1 percent in January after a 0.3 percent gain in December. “Real” personal consumption expenditures were flat in January and have remained flat over the past three months. This has pulled its 3-month growth rate down from 0.7 percent to zero, and it is up just 1.4 percent on a year-over-year basis.