Consumers had a slight increase in personal income for April, but it was still lower than levels seen in March. Personal income increased $43.7 billion, or 0.3%, and disposable personal income rose by $44.6 billion, or 0.3%, says the Bureau of Economic Analysis.
However, the bureau’s monthly report is all good news. Their research shows that personal consumption expenditures (PCE) decreased slightly–$8.1 billion, or 0.1%.
In March, personal income increased $76.3 billion, or 0.5%, DPI increased $65.0 billion, or 0.5% and PCE increased $117.6 billion, or 1.0%, based on revised estimates.
Other BEA findings:
Wages and salaries increased. Private wages and salaries increased $16.9 billion, compared with an increase of $44.6 billion in March. Services-producing industry payrolls rose $16.9 billion, compared with an increase of $34.5 billion. Furthermore, government wages and salaries increased $1.4 billion, compared with an increase of $0.9 billion.
Supplements to wages and salaries increased. Supplemental wages and salaries rose $3.2 billion in April, compared with an increase of $5.1 billion in March. Business owners also saw steady gains. Their income increase $5.4 billion in April, the same as in March.
Rental income increased. Rental income increased $1.8 billion, compared with an increase of $3.6 billion in March. Personal income receipts on assets increased $15.3 billion, compared with an increase of $8.0 billion. Personal current transfer receipts increased $2.6 billion, compared with an increase of $14.8 billion.
Personal savings increased. Personal saving was $518.1 billion in April, compared with $464.4 billion in March. The personal saving rate was 4.0% in April, compared with 3.6% the month before.