U.S personal incomes plunged $1,516.6 billion or 7.1% in February, according to the Bureau of Economic Analysis press release. The decline reflected the continued impacts of COVID-19 pandemic.
Disposable personal income fell $1,532.3 billion or 8.0% while personal consumption expenditures declined $149.0 billion or 1.0%.
Real disposable personal income declined 8.2% in February while real personal consumption expenditures shed 1.2%.
The personal consumption expenditures price index rose 0.2% and only gained 0.1% excluding food and energy.
Personal outlays decreased $141.5 billion in February
Personal saving was $2.41 trillion in February while personal savings as a percentage of disposable personal income was 13.6%.
U.S stocks are currently gaining as the dollar declines. SPY is up 0.62%, QQQ is up 0.66%, EURUSD is up 0.17%
