| Definition:
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Personal Income is defined as all compensation individuals receive from all sources including wages, salaries and benefits, income from rent, interest and dividends, as well as Social Security, unemployment and welfare payments. Personal Consumption Expenditures (PCE) or outlays are defined as the dollar amount of all goods and services purchased by consumers. This report also track the savings rate which is defined as disposable income (total income minus taxes) minus outlays.
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| Meaning:
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Outlays are the most important part of this report because PCE represents 2/3 of all economic activity (GDP). Consumer Spending is the engine that drives the economy. Income is related to spending, the higher the income growth the stronger the spending and conversely, the weaker the income growth, the slower the spending.
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| Weight:
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***
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| Source:
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U.S. Department of Commerce: Bureau of Economic Analysis
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| Availability:
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Released 3-4 weeks following the reference month.
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| Frequency:
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Monthly
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| Coverage:
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Data are for the previous Month (Data for May are released in June)
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| Volatility:
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Average
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Impact on the Markets:
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| Interest Rates:
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Income  = Interest Rates
Income  = Interest Rates
Outlays = Interest Rates
Outlays = Interest Rates
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| Fixed-income:
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Income = Bond Market
Income = Bond Market
Outlays = Bond Market
Outlays = Bond Market
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| Equities:
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Income = Stock Market
Income = Stock Market
Outlays = Stock Market
Outlays = Stock Market
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| Dollar:
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Income = Dollar
Income = Dollar
Outlays = Dollar
Outlays = Dollar
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| More Information:
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Bureau of Economic Analysis: Press Releases
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