BIDENOMICS ON THE STREET BEYOND THE BIDEN REGIME SPIN
every store is CLOSED in Ocean Ave San Francisco
Americans’ Savings Rate and Real Disposable Income Fall in February
Both inflation-adjusted (“Real”) Disposable Personal Income (DPI) and the average American’s personal savings rate declined sharply in February, data released Friday by the U.S. Bureau of Economic Analysis (BEA) show.
Seasonally-adjusted Disposable Personal Income, rose 0.2 percent in February, recording the slowest month-to-month growth since last October (also 0.2 percent).
In real terms, however, disposable personal income (personal income less personal current taxes), declined 0.1 percent, based on chained (2017) dollars. Real DPI had been rising at a decreasing rate (month-to-month), from 0.4 in November, to 0.2 in December, to 0.0 in January, before February’s decline.
Real Personal Consumption Expenditures (PCE) rose 0.4 percent, following January’s 0.2 percent drop and December’s 0.5 percent rise.
With real disposable income down and expenditures up, Americans’ personal savings rate fell to the lowest level in more than two years. On January 1, 2024, the savings rate was 4.1 percent. By February 1, it had dropped to 3.6 percent – the lowest savings rate since it was 3.4 percent on December 1, 2022.
The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
No comments:
Post a Comment