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September 28, 2012 REAL CONSUMER SPENDING SLOWS IN AUGUST Personal income increased 0.1 percent in August, the same increase as in July. Wages and salaries, the largest component of personal income, increased 0.1 percent in August after increasing 0.1 percent in July. Government social benefits to persons turned down in August. June July Personal Income 0.3% 0.1% 0.1% Current-dollar disposable personal income (DPI), after-tax income, increased 0.1 percent in August, the same increase as in July. Currentdollar DPI 0.3% 0.1% 0.1% Real DPI, income adjusted for taxes and inflation, decreased 0.3 percent in August after increasing 0.1 percent in July. Real DPI 0.2% 0.1% –0.3% Real PCE –0.1% 0.4% 0.1% PCE Prices 0.1% 0.0% 0.4% Real consumer spending, spending adjusted for price changes, increased 0.1 percent in August after increasing 0.4 percent in July. Spending on nondurable goods rose 0.3 percent after increasing 0.6 percent, while spending on services decreased 0.1 after increasing 0.3. PCE prices increased 0.4 percent in August after remaining flat in July. Excluding food and energy, the PCE price index increased 0.1 percent, the same as in July. Personal saving rate Personal saving as a percent of DPI was 3.7 percent in August, compared with 4.1 percent in July. Personal Saving Rate 4.4% 4.1% Aug. 3.7% Percent change (monthly rate) Real Disposable Personal Income and Real Consumer Spending 1.0 0.5 Real Disposable Personal Income 0.0 -0.5 Real Consumer Spending -1.0 May Jun Jul 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 29, 2012, the September estimates of personal income and outlays will be released. Contact: Ralph Stewart or Jeannine Aversa 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce