US: Personal income increased $58.4 billion (0.4%) in April

Personal income increased $58.4 billion (0.4 percent) in April according to estimates released today by the Bureau of Economic Analysis.

• Disposable personal income (DPI) increased $56.5 billion (0.4 percent) and personal consumption expenditures (PCE) increased $53.2 billion (0.4 percent).
• Real DPI increased 0.2 percent in April and Real PCE increased 0.2 percent. The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
• The increase in personal income in April primarily reflected an increase in private wages and salaries.
• The increase in real PCE in April was more than accounted for by an increase in spending for both durable and nondurable goods, led by increases in recreational goods and vehicles and gasoline.