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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

May 29, 2020

The US Bureau of Economic Analysis reports that US personal income increased $1.97 trillion, or 10.5 per cent in April 2020 (seasonally adjusted levels at annualized rates).

"The increase in personal income in April primarily reflected an increase in government social benefits to persons as payments were made to individuals from federal economic recovery programs in response to the COVID-19 pandemic ."

US personal disposable income increased $2.13 trillion, or 12.9 per cent in April 2020 to $18.7 trillion.


In real per capita terms, US disposable personal income increased 13.4 per cent in April 2020.

US personal consumption expenditures decreased $1.89 trillion, or 13.6 per cent in April 2020

Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) increased $4.04 trillion in April 2020 to $6.15 trillion.

The personal savings rate was 33.0 per cent of disposable income, up from 12.7 in March 2020.

Personal Outlays decreased $1.9 trillion in April 2020.

Source: US Bureau of Economic Analysis

Press Release and Table 2.6. Personal Income and Its Disposition, Monthly NIPA

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