Personal income decreased, savings increased in April

Personal income decreased in April, but personal savings increased, according to new data from the Bureau of Economic Analysis.

Personal income decreased $5.6 billion from March and disposable personal income decreased $16.1 billion. In March, personal income increased $36.2 billion and disposable personal income increased $25.4 billion.

Personal saving was $306.9 billion in April compared with $301.4 billion in March. The personal saving rate—personal saving as a percentage of disposable personal income—was 2.5 percent in April, which was the same as it was in March.

Private wage and salary disbursements increased $1.6 billion in April, compared with an increase of $16.3 billion in March. Goods-producing industries’ payrolls decreased $2 billion; manufacturing payrolls decreased $2.1 billion; services-producing industries’ payrolls increased $3.7 billion and government wage and salary disbursements increased $0.2 billion.

Supplements to wages and salaries increased $2.1 billion in April, compared to $3.1 billion in March.

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