Tuesday, June 29, 2010

PCEs and Income Up




From the BEA:

Personal income increased $53.7 billion, or 0.4 percent, and disposable personal income (DPI) increased $49.0 billion, or 0.4 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $24.4 billion, or 0.2 percent. In April, personal income increased $59.4 billion, or 0.5 percent, DPI increased $63.7 billion, or 0.6 percent, and PCE increased $1.4 billion, or less than 0.1 percent, based on revised estimates.


Let's look at the data:


Wages at service producing industries are in a clear uptrend, as are

Wages at goods producing industries.


Disposable personal income is also increasing.

Real PCEs are in a clear uptrend, as are

real service expenditures.
Non-durable goods purchases, however, appear to have stalled.



But purchases of durable goods is also increasing.

These figures point to an economy that continues to expand.