(Photo: Shutterstock)
Personal income rose by 10 percent ($1,954.7 billion) in January, according to estimates released on Friday by the Bureau of Economic Analysis. It also released these other key economic figures:
|- Disposable personal income increased by $1,963.2 billion (11.4 percent).
- Personal consumption expenditures (PCE) increased by $340.9 billion (2.4 percent).
- Real DPI increased 11 percent and real PCE increased 2.0 percent.
- Goods increased 5.1 percent and services increased 0.5 percent.
- The PCE price index also increased 0.3 percent.
"The estimate for January personal income and outlays was impacted by the continued federal response to the spread of COVID-19," the report said, citing payments and unemployment insurance benefits distributed under the Coronavirus Response and Relief Supplemental Appropriations Act, which was enacted on Dec. 27, 2020.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
