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For additional information relating to this article, please contact:

Thomas Storring Director of Economics/Statistics
Tel: 902-424-2410Email: Thomas.Storring@novascotia.ca

August 01, 2017
US PERSONAL INCOME AND OUTLAY, JUNE 2017

Today, the US Bureau of Economic Analysis reported that in June 2017, US personal income decreased $3.5 billion, or less than 0.1 per cent (all data are seasonally adjusted at annual rates), in June.  The decrease in personal income is largely attributable to falling dividend and interest income as wages and salaries gained $30.8 billion (0.4 per cent).  

US personal disposable income (DPI) decreased $4.2 billion, or by less than 0.1 per cent.  In real per capita terms, US DPI fell 0.1 per cent as the price index increased, albeit by less than 0.1 per cent.  

US personal consumption expenditures (PCE) increased $4.5 billion, or by 0.1 per cent in June.  PCE growth in June reached its slowest monthly pace since early 2016.  In real terms, US PCE was virtually unchanged on the month, leaving higher prices as the only source of overall expenditure growth.  

Personal savings (DPI minus PCE, interest paid, and transfers to government and the rest of the world) was $546.4 billion in June.  The personal savings rate was 3.8 per cent of disposable income.

 

US Bureau of Economic Analysis notes: the June data reflects the annual update of the National Income and Product Accounts, covering the last three years as well as the first five months of 2017.

Source: US Bureau of Economic Analysis



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