BEA News: Personal Income and Outlays, February 2021

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February. Economic impact payments associated with the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act of 2021 (which was enacted on December 27, 2020) declined sharply in February and unemployment benefits continued, but at a lower level. In addition to presenting estimates for February 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19 pandemic in the United States.

The full text of the release on BEA’s website can be found at: www.bea.gov/news/2021/personal-income-and-outlays-february-2021

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