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FRIDAY September 28, 2007 Consumer Spending Accelerates in August Average growth, last 12 months Personal income, a broad current-dollar measure, rose 0.3 percent in August, after rising 0.5 percent in July. Wages and salaries, the largest component of personal income, increased 0.2 percent, after increasing 0.4 percent in July. Real disposable personal income (DPI), the after-tax amount available for spending or saving, increased 0.4 percent in August, after increasing 0.5 percent in July. Real consumer spending (personal consumption expenditures) increased 0.6 percent in August after increasing 0.3 percent in July. Spending on motor vehicles, mainly trucks, turned up. The August increase in consumer spending was the largest since July 2005. Prices, as measured by the personal consumption expenditures price index, decreased 0.1 percent in August, compared with a 0.1 percent increase in July. Excluding food and energy, prices rose 0.1 percent, the same as in July. July August Personal Income 0.5% 0.5% 0.3% Real DPI 0.4% 0.5% 0.4% Real PCE 0.3% 0.3% 0.6% PCE Prices 0.1% 0.1% −0.1% 12-month average July August 0.7% 0.9% 0.7% Personal saving as a percent of disposable personal income was 0.7 percent in August. Personal Saving Rate Real Disposable Personal Income and Real Consumer Spending Percent change (monthly) 1.0 0.5 0.0 -0.5 -1.0 Aug Sep Oct Nov Dec Jan Real Disposable Personal Income Feb Mar Apr May Jun Jul Aug Real Consumer Spending BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: On November 1, 2007, the September estimates of Personal Income and Outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce