Research >> Economics
Personal Income increased 0.4%, Spending increased 0.1%
|
Personal income increased $73.5 billion (0.4 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $77.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $20.1 billion (0.1 percent).
Real DPI increased 0.4 percent in August and Real PCE increased 0.1 percent. The PCE price index increased less than 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
The $73.5 billion increase in personal income in August primarily reflected increases in wages and salaries, nonfarm proprietors’ income, and personal current transfer receipts that were partially offset by a decrease in personal interest income.
The $13.9 billion increase in real PCE in August reflected an increase of $18.0 billion in spending for goods and a $1.6 billion decrease in spending for services. Within goods, recreational goods and vehicles was the leading contributor to the increase. Within services, the largest contributor to the decrease was spending for food services and accommodations. Detailed information on monthly real PCE spending can be found on Table 2.3.6U.
Personal outlays increased $22.3 billion in August. Personal saving was $1.35 trillion in August and the personal saving rate, personal saving as a percentage of disposable personal income, was 8.1 percent.
Posted: September 27, 2019 Friday 08:30 AM