WASHINGTON - Personal consumption expenditures were flat in April, the first month without an increase since September, as disposable personal income rose by the most since December, while personal income increased 0.4%, the Commerce Department reported today.
Core PCE, which excludes food and energy costs, increased 0.1% for the month and 1.2% from a year ago.
Disposable personal income, which excludes taxes, increased 0.5%.
Economists expected consumption to increase 0.3% and for income to increase 0.5%, according to the median estimate from Thomson Reuters.
The Commerce Department on Thursday reported with gross domestic product figures that core PCE increased 0.6% for the quarter, the smallest increase on record dating back to 1959.
Incomes in March increased 0.4%, revised higher from the 0.3% gain initially reported. Consumption in March was unrevised at 0.6%.
The personal savings rate, which is disposable personal income minus consumption, increased to $398.5 billion in April, from $342.7 billion in March.
