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US Personal Income Growth Slows for Second Straight Month

May 27, 2022 by Forex Winner Leave a Comment

US Personal Income Growth Slows for Second Straight Month

Source: Bureau of Economic Analysis

Personal income in the United States continued to grow in April, albeit at a slower pace, driven mainly by higher compensation during the month.

  • Personal income increased by $89.3 billion or 0.4%, following the 0.5% growth in March. This is the second straight month of slower growth.
  • Disposable personal income grew $48.3 billion or 0.3%, also slower than 0.4% in March. 
  • The increase was attributed to the increase in compensation and personal income receipts, which were partly offset by lower proprietors’ income.
  • Real disposable personal income was flat from the previous month, following the 0.5% contraction in March.
  • Personal consumption expenditures jumped by $152.3 billion or 0.9%, slower than 1.4% in March.
  • Real personal consumption expenditures increased by 0.7%, faster than the 0.5% recorded in the previous month.

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