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March 28, 2016

Personal Income Decelerates in February

Personal income increased 0.2 percent in February after
increasing 0.5 percent in January. Wages and salaries, the
largest component of personal income, decreased 0.1
percent in February after increasing 0.6 percent in January.
Current-dollar disposable personal income (DPI),
after-tax income, increased 0.2 percent in February after
increasing 0.4 percent in January.
Real DPI, income adjusted for taxes and inflation,
increased 0.3 percent in February, the same increase as in
January.
Real consumer spending (PCE), spending adjusted for
price changes, increased 0.2 percent in February after
remaining flat in January. Spending on durable goods
increased 0.3 percent in February after decreasing 0.8
percent in January.
PCE prices decreased 0.1 percent in February after
increasing 0.1 percent in January. Excluding food and
energy, PCE prices increased 0.1 percent in February after
increasing 0.3 percent in January.
Personal saving rate
Personal saving as a percent of DPI was 5.4 percent in
February and 5.3 percent in January.

Dec.

Jan.

0.3%

0.5%

0.2%

Currentdollar DPI

0.3%

0.4%

0.2%

Real DPI

0.3%

0.3%

0.3%

Real PCE

0.2%

0.0%

0.2%

–0.1%

0.1%

–0.1%

5.0%

5.3%

5.4%

Personal
Income

PCE Prices

Personal
Saving
Rate

Feb.

Percent Change (Monthly Rate)

Real Disposable Personal Income and
Real Consumer Spending
0.6
0.4
0.2
0.0
-0.2
-0.4

Nov

Dec

Real Disposable Personal Income

Jan

Feb

Real Consumer Spending

Source: .ureau of Economic Analysis
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 April 29, 2016, the estimates of March Personal Income and Outlays will be released.
Contact: Jeannine Aversa 202–606–2649

Bureau of Economic Analysis, U.S. Department of Commerce