Consumer Spending and Personal Income Rise

economy-risingThere is more good news for consumers this month.

Personal income increased $47.7 billion, or 0.3%, and disposable personal income (DPI) increased $42.3 billion, or 0.3% in February, according to the Bureau of Economic Analysis Personal Income and Outlays report.

The Bureau says personal consumption expenditures (PCE) increased $30.8 billion, or 0.3%. The month before that, personal income increased $41.3 billion, or 0.3%, DPI increased $40.3 billion, or 0.3%, and PCE increased $20.0 billion, or 0.2%, based on revisions.

Other BEA findings:

  • Private wages and salaries rose $13.0 billion in February, compared with an increase of $17.2 billion in January.
  • Supplements to wages and salaries rose $2.9 billion in February, compared with an increase of $4.9 billion in January.
  • Personal current taxes rose $5.3 billion in February, compared with an increase of $1.2 billion in January.
  • Personal outlays — PCE, personal interest payments, and personal current transfer payments — rose $33.8 billion in February, compared with an increase of $23.1 billion in January.
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