Research >> Economics
Personal Income up 0.5%, Spending up 0.1%
Personal income increased $61.5 billion, or 0.5 percent, and disposable personal income (DPI) decreased $93.3 billion, or 0.9 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $3.9 billion, or less than 0.1 percent. In July, personal income decreased $69.0 billion, or 0.6 percent, DPI decreased $91.0 billion, or 0.8 percent, and PCE increased $14.2 billion, or 0.1 percent, based on revised estimates. The pattern of changes in income primarily reflects the pattern of payments associated with the Economic Stimulus Act of 2008.
Real DPI decreased 0.9 percent in August, compared with a decrease of 1.5 percent in July. Real PCE increased less than 0.1 percent, in contrast to a decrease of 0.5 percent.
Posted: September 29, 2008 Monday 08:30 AM