Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income increased at a nonannualized rate of 0.2 percent in February, which follows a 0.2 percent increase in January (revised down from 0.3 percent) and a 0.4 percent increase in December (revised down from 0.5 percent). On a year-over-year basis, it was up 3.2 percent. This pulls the near-term (3-month) trend in year-over-year changes down from 4.2 percent to 3.7 percent. Disposable personal income (DPI)—personal income less current taxes—was up 0.2 percent in February following a flat reading in January. After adjusting for price changes, “real” disposable personal income dropped 0.1 percent in February and has been flat over the past three months. On a year-over-year basis, “real” DPI was up 0.3 percent, a drop-off from the 0.6 percent increase in January. The year-over-year change in “real” DPI has been below 1.0 percent for 10 consecutive months, going back to May of last year. “Real” personal consumption expenditures were up 0.5 percent in February after a 0.2 percent increase in January (revised up from zero) and a 0.1 percent increase in December (also revised up from zero). The 3-month growth rate in real consumption is at 0.2 percent, and consumption increased 1.8 percent over last February. Contributing to the gain in “real” consumption was a spike in the consumption of services. After being nearly flat for the past 6 months, services consumption jumped 0.4 percent in February.