Washington, D.C. (PPD) — Personal income unexpectedly rose $874.2 billion (4.2%) in July, beating the forecast, and personal outlays rose $270.6 billion. Personal saving remained very high, but prior gains in personal consumption expenditures (PCE), also known as consumer spending, were stronger than initially reported.
Forecasts for personal income ranged from a low of -2.0% to a high of 1.2%, with the consensus -0.2%. Forecasts for personal outlays ranged from a low of 0.7% to a high of 4.5%, with the consensus 1.5%.
“The increase in personal income in July was more than accounted for by compensation of employees as portions of the economy continued to reopen,” the U.S. Bureau of Economic Analysis (BEA) said in a statement.
Disposable personal income (DPI) rose $39.9 billion (0.2%) and personal consumption expenditures (PCE) gained $267.6 billion (1.9%). Real DPI fell 0.1% in July and Real PCE gained 1.6%. The PCE price index rose 0.3%. Excluding food and energy, the PCE price index rose 0.3%.
The personal saving rate — personal saving as a percentage of disposable personal income — fell to 17.8%. That’s down from a record high 33% in April.
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.