Personal income up 0.5% in July; Personal saving was a negative 0.9%

Personal income increased $60.2 billion, or 0.5 percent, and disposable personal income (DPI) increased $63.9 billion, or 0.7 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $78.7 billion, or 0.8 percent. In June, personal income increased $60.0 billion, or 0.6 percent, DPI increased $47.8 billion, or 0.5 percent, and PCE increased $36.6 billion, or 0.4 percent, based on revised estimates.
  • Private wage and salary disbursements increased $33.9 billion in July, compared with an increase of $32.8 billion in June.
  • Supplements to wages and salaries increased $8.1 billion in July, compared with an increase of $6.9 billion in June.
  • Rental income of persons increased $2.5 billion in July, in contrast to a decrease of $5.7 billion in June.
  • Personal outlays -- PCE, personal interest payments, and personal current transfer payments increased $79.7 billion in July, compared with an increase of $41.0 billion in June. 
  • Personal saving -- DPI less personal outlays -- was a negative $83.5 billion in July, compared with a negative $67.6 billion in June. 
  • Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in July, compared with an increase of 0.4 percent in June.
  • PCE price index -- The PCE price index increased 0.3 percent in July, compared with an increase of 0.1 percent in June. The PCE price index, excluding food and energy, increased 0.1 percent, compared with an increase of 0.2 percent.

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