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August 29, 2016US PERSONAL INCOME AND OUTLAY, JULY 2016 Today, the Bureau of Economic Analysis reported that US personal income increased $71.6 billion, or by 0.4 per cent (all data are seasonally adjusted at annual rates), in July.
Wages and salaries increased $43.3 billion, or by 0.5 per cent, in July. This was the fifth consecutive monthly increase in US wages and salaries.
US personal disposable income (DPI) increased $60.1 billion, or by 0.4 per cent, in July. Real per capita disposable income increased 0.4 per cent in July, the largest increase of 2016.
US personal consumption expenditures (PCE) increased $42.0 billion, or by 0.3 per cent month to month. Real personal consumption expenditures (real PCE) increased 0.3 percent in July.
US Personal savings (disposable personal income minus personal outlays consisting of consumption, interest paid, and transfers to government and the rest of the world) was $794.7 billion in July, compared to $776.2 billion in June. The personal savings rate (share of DPI) increased to 5.7 percent in July.
Source: US Bureau of Economic Analysis