Personal income in the United States increased $71.7 billion (0.4 percent) in June according to estimates released today (Tues.) by the Bureau of Economic Analysis.
Disposable personal income ($65.3 billion) and personal consumption expenditures ($57.1 billion) both increased 0.4 percent. Excluding food and energy, the personal consumption expenditures price index increased 0.1 percent.
The increase in personal income in June primarily reflected increases in wages and salaries and personal dividend income. The $39.7 billion increase in real personal consumption expenditures in June primarily reflected an increase of $36.4 billion in spending for services. The largest contributor to the increase was spending for food services and accommodations. Spending for goods increased $1.3 billion.
Personal outlays increased $62.7 billion in June. Personal saving was $1,049.7 billion in June and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.8 percent.
