WASHINGTON–Personal income increased $92.8 billion (0.5%) in April according to estimates released by the Bureau of Economic Analysis.
Disposable personal income (DPI) increased $69.3 billion (0.4%) and personal consumption expenditures (PCE) increased $40.8 billion (0.3%), the BEA said.
Real DPI increased 0.1% in April and Real PCE decreased less than 0.1%. The PCE price index increased 0.3%. Excluding food and energy, the PCE price index increased 0.2%, according to the government figures.
The increase in personal income in April primarily reflected increases in personal interest income, wages and salaries, and government social benefits to persons, the BEA said.
The $3.7 billion decrease in real PCE in April reflected a decrease of $5.4 billion in spending for services that was partly offset by a $2.4 billion increase in spending for goods. Within services, the largest contributor to the decrease was spending for household electricity and gas. Within goods, spending for gasoline and other energy goods was the leading contributor to the increase.
Personal outlays increased $42.7 billion in April. Personal saving was $990.3 billion in April and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2%.