Personal Income and Outlays Increase in February

According to the Bureau of Economic Analysis (BEA) Personal Income (PI) increased $106.8 billion (0.6%) in February Disposable Personal Income (DPI) increased $88.7 billion (0.5%) and Personal Consumption Expenditures (PCE) increased $27.7 billion (0.2%). The increase in personal income in February primarily reflected increases in compensation of employees and farm proprietors’ income. Farm proprietors’ income increased $34.1 billion in February, which included an increase in subsidy payments associated with the Department of Agriculture’s Market Facilitation Program.