The document summarizes April 2015 personal income data. It finds that while nominal wage growth was 4.6%, in line with recent averages, real wage growth has meaningfully accelerated. However, consumer confidence in the future remains cautious. Additionally, nominal wages per employee and disposable personal income growth remain low, indicating a lack of inflation. The personal savings rate has also increased dramatically in recent months, which is not indicative of rising inflationary pressures.