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FRIDAY May 30, 2008 CONSUMER SPENDING SLOWS IN APRIL Average growth, last 12 months Personal income rose 0.2 percent in April, after increasing 0.4 percent in March. Wages and salaries, the largest component of personal income, decreased 0.2 percent, after increasing 0.5 percent in March. The March increase reflected a $15 billion adjustment for large bonus payments. Real disposable personal income (DPI), income adjusted for inflation and taxes, was unchanged in March and in April. Real consumer spending (personal consumption expenditures) was unchanged in April after increasing 0.1 percent in March. Spending on nondurable goods turned down, led by gas and energy. March April Personal Income 0.4% 0.4% 0.2% Real DPI 0.2% 0.0% 0.0% Real PCE 0.1% 0.1% 0.0% PCE Prices 0.3% 0.3% 0.2% 12-month average March April 0.4% 0.7% 0.7% Prices, as measured by the personal consumption expenditures (PCE) price index, increased 0.2 percent in April, compared with a 0.3 percent increase in March. Personal Saving Rate Personal saving as a percent of disposable personal income was 0.7 percent in April. Real Disposable Personal Income and Real Consumer Spending Percent change (monthly) 1.0 0.5 0.0 -0.5 -1.0 Apr May Jun Jul Aug Sept Real Disposable Personal Income Oct Nov Dec Jan Feb Mar Apr Real Consumer Spending BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: On June 27, 2008, the May estimates of Personal Income and Outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce