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FRIDAY August 31, 2007 Personal Income, Consumer Spending Accelerate in July Personal income, a broad current-dollar measure, rose 0.5 percent in July, after increasing 0.4 percent in June. Wages and salaries, the largest component of personal income, increased 0.5 percent, the same increase as in June. Real disposable personal income (DPI), the after-tax amount available for spending or saving, increased 0.5 percent in July, after increasing 0.2 percent in June. The July increase was the largest since February. Real consumer spending (personal consumption expenditures) increased 0.3 percent in July after remaining unchanged in June. June Average growth, last 12 months July Personal Income 0.4% 0.5% 0.5% Real DPI 0.2% 0.5% 0.3% Real PCE 0.0% 0.3% 0.2% PCE Prices 0.2% 0.1% 0.2% Prices, as measured by the personal consumption expenditures price index, increased 0.1 percent in July, after increasing 0.2 percent in June. Excluding food and energy, prices increased 0.1 percent after increasing 0.2 percent in June. June Personal Saving Rate Personal saving as a percent of disposable personal income was 0.7 percent in July. 0.5% July 12-month average 0.7% 0.6% Real Disposable Personal Income and Real Consumer Spending Percent change (monthly) 1.0 0.5 0.0 -0.5 -1.0 Jul Aug Sep Oct Nov Dec Real Disposable Personal Income Jan Feb Mar Apr May Jun Jul 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 September 28, 2007, the August estimates of Personal Income and Outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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