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August 28, 2015

Personal Income Rises in July

May

June

July

0.4%

0.4%

0.4%

Personal income increased 0.4 percent in July, the same as
in June and May. Wages and salaries, the largest
component of personal income, rose 0.5 percent in July
after rising 0.2 percent in June.

Personal
Income

Current-dollar disposable personal income (DPI),
after-tax income, increased 0.5 percent in July after
increasing 0.4 percent in June.

Currentdollar DPI

0.4%

0.4%

0.5%

Real DPI, income adjusted for taxes and inflation,
increased 0.4 percent in July after increasing 0.2 percent in
June.

Real DPI

0.1%

0.2%

0.4%

Real consumer spending (PCE), spending adjusted for
price changes, increased 0.2 percent in July after increasing
less than 0.1 percent in June. Spending on durable goods
increased 1.3 percent in July after decreasing 0.9 percent in
June.

Real PCE

0.5%

0.0%

0.2%

PCE Prices

0.3%

0.2%

0.1%

Personal
Saving
Rate

4.6%

4.7%

4.9%

PCE prices increased 0.1 percent in July, after increasing
0.2 percent in June. Excluding food and energy, PCE
prices increased 0.1 percent in July and in June.
Personal saving rate
Personal saving as a percent of DPI was 4.9 percent in July
and 4.7 percent in June.

Percent Change (Monthly Rate)

Real Disposable Personal Income and
Real Consumer Spending
0.6
0.4
0.2
0.0
-0.2
-0.4

Apr

May

Real Disposable Personal Income

Jun

Jul

Real Consumer Spending

Source: .ureau of Economic Analysis
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, 2015, the estimates of August personal income and outlays will be released.
Contact: Jeannine Aversa 202–606–2649

Bureau of Economic Analysis, U.S. Department of Commerce