Just out today is the news that personal income for last month increased 0.2%, meaning that the consumer is doing well which can spur consumer spending which can create demand for commercial real estate development.
Personal income increased $28.2 billion, or 0.2 percent, and disposable personal income (DPI) increased $18.9 billion, or 0.2 percent, in February, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $86.0 billion, or 0.8 percent. In January, personal income increased $26.5 billion, or 0.2 percent, DPI increased $5.0 billion, or less than 0.1 percent, and PCE increased $40.9 billion, or 0.4 percent, based on revised estimates. While a growth in personal income for February 2012 of 0.2% may seem small, it shows the economy continues to stay out of the recession of 2008. The chart below shows personal income by quarter since 2004 and ending 2011.The last 9 quarters have witnessed positive growth.
Positive growth in personal income leads to consumer spending which drives commercial real estate development. Click here for an article on Louisiana Personal Income.