Commerce Department Releases Personal Income and Spending Data for February
Americans became incrementally richer this past February. According to the Commerce Department's latest release on personal income and outlay data compiled by the Bureau of Economic Analysis, the category grew during the month by $143.2 billion, or 1.1%, over January's level. Disposable personal income also advanced, as did personal consumption expenditures. The growth in those categories was by $127.8 billion (1.1%), and $77.2 billion (0.7%), respectively, over that same time frame. Click here to open the report in PDF.
The fortunes of those indicators were mixed on a month-over-month basis in January. Personal income dropped by $513.5 billion (3.7%), while DPI fell by $498.3 billion (4%). On the other hand, PCE climbed by $40.8 billion ( 0.4%).
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