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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.
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