March 27, 2020

Personal income increased 0.6 percent in February, the same increase as in January. Wages and salaries, the largest component of personal income, increased 0.5 percent in February, also the same increase as in January.

Personal Income Chart Chart March27



Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in February after increasing 0.6 percent in January.

Real disposable personal income (DPI), adjusted for taxes and inflation, increased 0.4 percent in February after increasing 0.5 percent in January.

Real consumer spending (PCE), adjusted for price changes, increased 0.1 percent in February, the same increase as in January. Spending on services increased 0.2 percent in February after no change in January, while spending on goods decreased 0.2 percent after increasing 0.2 percent.

PCE prices increased 0.1 percent in February, the same as in January. Excluding food and energy, PCE prices increased 0.2 percent in February, the same increase as in January.

Personal saving rate
Personal saving as a percent of DPI was 8.2 percent in February and 7.9 percent in January.

For more information, read the full report. 

Real DPI vs Consumer Spending March27