Personal Income (Feb 28)

Personal Income increased 1.0%, the largest increase since May 2009, by $133.2 billion in January to $ 12,897.3 billion seasonally adjusted at annual rates, higher than the expected 0.6%, after increasing by 0.4% in December. Net of taxes Disposable Personal Income increased 0.7%, by $78.3 billion, to $ 11,629.4, after increasing by 0.4% in December. Personal Consumption Expenditures increased by $23.7 billion, or 0.2%, the smallest increase in seven months, lower than the expected 0.4% increase, after increasing by 0.5% in December, revised downwards from an originally reported 0.7%. With the rate of income growth exceeding the rate of spending, the Personal Savings Rate increased to 5.8% of disposable income, after decreasing to 5.4% in December, originally reported at 5.3%.

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