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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

September 05, 2017
US PERSONAL INCOME AND OUTLAY, JULY 2017

Today, the US Bureau of Economic Analysis reported that in July 2017, US personal income increased $65.6 billion, or 0.4 per cent (all data are seasonally adjusted at annual rates). The increase in personal income is largely attributable to wages and salaries and personal income receipts.   

US personal disposable income (DPI) increased $39.6 billion, or by 0.3 per cent.  In real per capita terms, US DPI increased 0.1 per cent.   

US personal consumption expenditures (PCE) increased $44.7 billion, or by 0.3 per cent in July.  PCE growth this month reflects an $18.7 billion increased in spending on goods and an $11.8 billion increase in spending for services.   

Personal savings (DPI minus PCE, interest paid, and transfers to government and the rest of the world) was $510.2 billion in July.  The personal savings rate was 3.5 per cent of disposable income.

 

Source: US Bureau of Economic Analysis



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