Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income increased 0.2 percent (nonannualized) in April, following a 0.4 percent increase in March, and was up 2.8 percent since last year. This release also included revised data for the fourth quarter of last year and the first quarter of this year due to new wage and salary information from the QECW. Nominal personal income for the past two quarters were revised down a bit, with the fourth quarter average year-over-year change dropping from 4.6 percent to 4.2 percent, and the average year-over-year change for the first quarter dropping from 3.4 percent to 2.9 percent. Disposable personal income—personal income less current taxes—increased 0.2 percent as well, following an increase of 0.4 percent in March. “Rea” disposable personal income (DPI adjusted for price changes) increased 0.2 percent in April. On a year-over-year basis, “real” DPI was up 0.7 percent, which is the largest year-over-year increase since last September. “Real” personal consumption expenditures increased 0.3 percent in April after being flat in March. Since last April, consumption was up 2.1 percent, which is the first time the year-over-year change in consumption has been over 2.0 percent since September 2011. This helped pull the near-term (3-month) trend in consumption up from 1.8 to 1.9 percent. Consumption of goods improved after last month’s decrease of 0.1 percent, increasing 0.4 percent for the month, while services consumption increased 0.2 percent. The personal savings rate decreased to 3.4 percent in April compared with 3.5 percent in March.