Personal Income and Outlays Released On 5/1/2014 8:30:00 AM For Mar, 2014 Prior Prior Revised Consensus Consensus Range Actual Personal Income - M/M change 0.3 % 0.4 % 0.4 % 0.2 % to 0.5 % 0.5 % Consumer Spending - M/M change 0.3 % 0.5 % 0.6 % 0.2 % to 0.8 % 0.9 % PCE Price Index -- M/M change 0.1 % 0.2 % 0.1 % to 0.3 % 0.2 % Core PCE price index - M/M change 0.1 % 0.2 % 0.1 % to 0.2 % 0.2 % Market Consensus before announcement Personal income in February advanced 0.3 percent, equaling the rise in January. The important wages & salaries component grew 0.2 percent, following a 0.3 percent increase the month before. Consumer spending gained 0.3 percent in February after rising 0.2 percent the month before. On a year ago basis, headline inflation was 0.9 percent in February versus 1.2 percent the month before. Core inflation on a year-ago basis held steady at 1.1 percent. Looking ahead to the personal income report for March, from the payroll survey, private aggregate weekly earnings rose 0.7 percent in March, pointing to a sizeable rise in private wages & salaries.
Changes in taxes or social security cost of living adjustments can cause some sharp variations in monthly disposable income growth. However, on the whole, monthly changes in disposable income fluctuate less than monthly changes in personal consumption expenditures. Data Source: Haver Analytics
Monthly changes in personal consumption expenditures are usually skewed by large changes in spending on durable goods. Spending on nondurable goods and services tend to be less volatile from one month to the next. Data Source: Haver Analytics
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