Personal Income
- Pre-report estimate: 0.3%
- Actual: 0.3%
Personal income increased by $65.3 billion, or 0.3%, in April, meeting the pre-report estimate. This growth was primarily driven by rises in compensation, income from assets, and government social benefits. However, disposable personal income (DPI), which accounts for taxes, grew by only 0.2%, down from March’s 0.5% increase. In real terms, after adjusting for inflation, DPI fell by 0.1%.
Personal Spending
- Pre-report estimate: 0.3%
- Actual: 0.2%
Personal spending rose by $39.1 billion, or 0.2%, slightly below the forecasted 0.3%. This increase was mainly in services, which saw a $49.1 billion uptick, partially offset by a $10 billion decline in goods spending. Housing, healthcare, and financial services led the growth in services, while…
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