The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
THURSDAY October 1, 2009 CONSUMER SPENDING RISES IN AUGUST Personal income increased 0.2 percent in August, after increasing by the same amount in July. Wages and salaries, the largest component of personal income, increased 0.2 percent in August and in July. Wages in services industries picked up. Real disposable personal income (DPI), income adjusted for inflation and taxes, fell 0.2 percent in August, reflecting a rise in PCE prices. Real consumer spending (spending adjusted for price changes) increased 0.9 percent in August, the largest increase since June 2005. New car and truck purchases were the leading contributor, reflecting the effects of the federal CARS (“cash for clunkers”) program. For more information, see the CARS FAQ available at www.bea.gov. PCE prices increased 0.3 percent in August. Excluding food and energy, prices rose 0.1 percent. Personal saving as a percent of disposable income was 3.0 percent in August. Average, last 12 months July Personal Income –0.2 % 0.2 % 0.2 % Real DPI 0.1 % –0.1 % –0.2 % Real PCE 0.0 % 0.2 % 0.9 % 0.0 % 0.0 % 0.3 % July August 4.0 % 3.0 % PCE Prices 12-month average Personal Saving Rate 3.9 % August Real Disposable Personal Income and Real Consumer Spending 2.0 Percent change (monthly) 1.5 1.0 Real Disposable Personal Income 0.5 0.0 -0.5 -1.0 Real Consumer Spending -1.5 -2.0 May June July Aug 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 October 30, 2009, 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