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Financial News: U.S. Personal Income Rises 0.3% In April, In

U.S. Personal Income Rises 0.3% In April, In Line With Estimates

05/31/2018 - 09:29:00 (RTTNews)

(RTTNews) - Personal income in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Thursday, while personal spending climbed by more than anticipated.

The Commerce Department said personal income rose by 0.3 percent in April after edging up by 0.2 percent in March. The increase in income matched economist estimates.

Disposable personal income, or personal income less personal current taxes, increased by 0.4 percent in April after rising by 0.2 percent in March.

Meanwhile, the report said personal spending climbed by 0.6 percent in April following a 0.5 percent increase in the previous month. Spending had been expected to rise by 0.4 percent.

Real spending, which is adjusted to remove price changes, rose by 0.4 percent in April after climbing by 0.4 percent in March.

With spending rising by more than income, personal saving as a percentage of disposable income fell to 2.8 percent in April from 3.0 percent in March.

A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth was unchanged at 1.8 percent.

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