Personal Income & Outlays

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Today in the economic news, the Bureau of Economic Analysis reported Personal Income increased $67.3 billion (+0.4%) in February.

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Disposable Personal Income increased $53.9 billion (+0.4%) and Personal Consumption Expenditures (PCE) increased $27.7 billion (+0.2%).

Real DPI increased +0.2%. Excluding food and energy, the PC price index increased +0.2%.

The increase in personal income in February primarily reflected increases in wages and salaries and nonfarm proprietors’ income.

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The $1.4 billion increase in real PCE in February reflected an increase of $1.0 billion in spending for goods and a $0.5 billion increase in spending or services.

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Within goods, recreational goods and vehicles were the leading contributors to the increase.

Within services, financial services and insurance was the leading contributor to the increase.

Personal outlays increased $27.8 billion in February. Personal saving was $497.4 billion in February and the personal saving rate, personal saving as a percentage of disposable income, was 3.4%. 

Personal Income increased 3.1% in 2017, compared with an increase of 2.4% in 2016. DPI increased 2.9% in 2017 compared with an increase of 2.6% in 2016.

In 2017, PCE increased 4.5%, compared with an increase of 4.0% in 2016.

Real DPI increased 1.2% in 2017, compared with an increase of 1.4% n 2016. Real PCE increased 2.8%, compared with an increase of 2.7% in 2016.

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Source: 

BEA (U.S. Bureau of Economic Analysis) 

MFA-Boston 

Trading Economics 

-R.W.N II

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