Recent Updates
- Canada: GDP (Q4), GDP by Industry (Dec)
- Bangladesh: Wage Earners Remittances (Feb)
- Qatar: Producer Price Indexes (Jan)
- Brazil: Sao Paulo CPI (Feb), PPI (Jan)
- Cyprus: GDP (Q4)
- more updates...
Economy in Brief
NABE Projects Firm Growth in 2022, as in 2021
The NABE expects 4.0% real GDP growth in 2022 following a 4.8% rise during 2021...
U.S. Construction Spending Strengthens Again in January
Building activity continues to strengthen...
Manufacturing PMIs Are Strengthening More in the Developed World
PMIs largely are improving in February...
U.S. Personal Income & Spending Surge With Stimulus Payments in January
Personal income jumped 10.0% (13.1% y/y) last month...
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller March 31, 2005
Personal income rose 0.3% in February. The modest gain followed a 2.5% January decline in the wake of Microsoft's dividend payment. Consensus expectations had been for a 0.4% rise for February.
Disposable personal income rose 0.3% (5.6% y/y) but adjusted for price inflation rose just 0.1% (3.3% y/y).
Wage & salary income edged up just 0.2% (5.5% y/y) in February, one of the weaker gains of the last year. Wages in service producing industries rose 0.1% 6.0% y/y) and factory sector wages rose 0.2% (5.5% y/y).
Personal consumption rose an expected 0.5%. Durable goods spending rose 0.9% (3.7% y/y) and spending on nondurables rose 0.6%, lifted by a 4.3% jump in gasoline prices. Services spending rose 0.5% (5.2% y/y).
The PCE chain price index rose 0.3% in February but less food & energy inflation eased slightly to 0.2%
Disposition of Personal Income | Feb | Jan | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Personal Income | 0.3% | -2.5% | 5.8% | 5.6% | 3.2% | 1.8% |
Personal Consumption | 0.5% | 0.1% | 5.8% | 6.0% | 5.2% | 4.6% |
Savings Rate | 0.6% | 0.8% | 0.9% | 1.2% | 1.4% | 2.0% |
PCE Chain Price Index | 0.3% | 0.2% | 2.3% | 2.2% | 1.9% | 1.4% |
Less food & energy | 0.2% | 0.3% | 1.6% | 1.5% | 1.3% | 1.8% |