There is more good news for consumers this month.
Personal income increased $47.7 billion, or 0.3%, and disposable personal income (DPI) increased $42.3 billion, or 0.3% in February, according to the Bureau of Economic Analysis Personal Income and Outlays report.
The Bureau says personal consumption expenditures (PCE) increased $30.8 billion, or 0.3%. The month before that, personal income increased $41.3 billion, or 0.3%, DPI increased $40.3 billion, or 0.3%, and PCE increased $20.0 billion, or 0.2%, based on revisions.
Other BEA findings:
- Private wages and salaries rose $13.0 billion in February, compared with an increase of $17.2 billion in January.
- Supplements to wages and salaries rose $2.9 billion in February, compared with an increase of $4.9 billion in January.
- Personal current taxes rose $5.3 billion in February, compared with an increase of $1.2 billion in January.
- Personal outlays — PCE, personal interest payments, and personal current transfer payments — rose $33.8 billion in February, compared with an increase of $23.1 billion in January.