US personal income increased 0.1 percent month-over-month in March 2019, following a 0.2 percent rise in the prior month and missing market expectations of a 0.4 percent gain. The increase in personal income primarily reflected hikes in compensation of employees and government social benefits to persons that were partially offset by decreases in personal interest income and farm proprietors’ income. Wages and salaries, the largest component of personal income, increased 0.4 percent in March after gaining 0.3 percent in February. Personal Income in the United States averaged 0.53 percent from 1959 until 2019, reaching an all time high of 4.60 percent in May of 2008 and a record low of -4.70 percent in January of 2013.
Personal Income in the United States is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Income in the United States to stand at 0.40 in 12 months time. In the long-term, the United States Personal Income is projected to trend around 0.30 percent in 2020, according to our econometric models.