WASHINGTON—The personal income of Americans increased by $59.4 billion, or 0.4%, and disposable personal income (DPI) increased $48.8 billion, or 0.4%, in April, according to the Bureau of Economic Analysis (see chart below).
Personal consumption expenditures (PCE) decreased $2.6 billion, or less than 0.1%. In March, personal income increased $4.0 billion, or less than 0.1%, DPI increased $0.5 billion, or less than 0.1%, and PCE increased $65.6 billion, or 0.5%, based on revised estimates. Real DPI increased 0.3% in April, in contrast to a decrease of 0.2% in March. Real PCE decreased less than 0.1%, in contrast to an increase of 0.4%, the BEA said.
Meanwhile, wages and salaries increased $17.7 billion in April, compared with an increase of $9.5 billion in March. Private wages and salaries increased $15.7 billion, compared with an increase of $8.4 billion. Government wages and salaries increased $2.0 billion, compared with an increase of $1.0 billion.
Personal outlays – PCE, personal interest payments, and personal current transfer payments – decreased $2.7 billion in April, in contrast to an increase of $69.9 billion in March. PCE decreased $2.6 billion, in contrast to an increase of $65.6 billion, the BEA said.
Personal saving – DPI less personal outlays – was $744.0 billion in April, compared with $692.5 billion in March. The personal saving rate – personal saving as a percentage of disposable personal income – was 5.6% in April, compared with 5.2% in March.