Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income increased 0.2 percent (nonannualized) in May, following an increase of 0.2 percent in April and 0.4 percent in March. On a year-over-year basis, personal income is up 2.9 percent. Disposable personal income—personal income less current taxes—also increased 0.2 percent in May. After adjusting for price effects, “real” disposable personal income (DPI) rose 0.3 percent during the month, its largest monthly increase since October 2010. The series’ near-term (3-month annualized) growth rate, boosted by May’s increase, jumped up from 1.3 percent to 2.6 percent, which is well above its year-over-year growth rate of 1.1 percent. Real personal consumption expenditures edged up 0.1 percent in May, and has been sluggish in recent months; rising at an annualized rate of a mere 0.4 percent over the past three months, compared to its modest (1.9 percent) year-over-year growth rate. The personal savings rate (as a percent of DPI) edged up to 3.9 percent in May, but is still below its post-recession average of 4.7 percent.