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