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June 25, 2021US PERSONAL INCOME AND OUTLAY, MAY 2021 Personal Income (May 2021 vs Apr 2021, seasonally adjusted annualized rate)
The US Bureau of Economic Analysis reports that
- US personal income decreased $414.3 billion, or 2.0%.
- US personal disposable income decreased $436.3 billion, or 2.3%.
- In real per capita terms, US disposable personal income decreased 2.8%.
- US personal consumption expenditures increased $2.9 billion, or 0.02%.
- Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) decreased $441.8 billion, or 16.2%.
- The personal savings rate was 12.4% of disposable income, down from 14.5%.
QUOTATIONS
"The estimate for May personal income and outlays reflected the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The decrease in personal income for May reflected declines in pandemic-related assistance programs. The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified. For more information, see Effects of Selected Federal Pandemic Response Programs on Personal Income.”
Source:
US Bureau of Economic Analysis. Press release, May 2021
US Bureau of Economic Analysis. retrieved from FRED, Federal Bank of St Louis, Table 2.6. Personal Income and Its Disposition, Monthly NIPA
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