WASHINGTON–Personal income increased $23.7 billion, or 0.2%, and disposable personal income (DPI) increased $23.7 billion, or 0.2%, in February, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $11.0 billion, or 0.1%. In January, personal income increased $72.7 billion, or 0.5%, DPI increased $57.2 billion, or 0.4%, and PCE increased $10.7 billion, or 0.1%, based on revised estimates.
Real DPI increased 0.3% in February, the same increase as in January. Real PCE increased 0.2% in February, in contrast to a decrease of less than 0.1% in January, the BEA said.
Wages and salaries decreased $9.4 billion in February, in contrast to an increase of $46.5 billion in January. Private wages and salaries decreased $12.9 billion, in contrast to an increase of $41.9 billion. Government wages and salaries increased $3.5 billion, compared with an increase of $4.6 billion, according to the BEA.
Supplements to wages and salaries increased $2.4 billion in February, compared with an increase of $6.1 billion in January.
Personal outlays – PCE, personal interest payments, and personal current transfer payments – increased $10.4 billion in February, compared with an increase of $14.7 billion in January. PCE increased $11 billion, compared with an increase of $10.7 billion.
Personal saving – DPI less personal outlays – was $733.6 billion in February, compared with $720.3 billion in January. The personal saving rate – personal saving as a percentage of disposable personal income – was 5.4%, compared with 5.3%, the BEA said.