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TUESDAY August 4, 2009 PERSONAL INCOME AND CONSUMER SPENDING FALL IN JUNE Personal income fell 1.3 percent in June. Wages and salaries, the largest component of personal income, fell 0.4 percent in June after decreasing 0.1 percent in May. Real disposable personal income (DPI), income adjusted for inflation and taxes, decreased 1.8 percent in June. The June change in real disposable personal income reflects selected provisions of the American Recovery and Reinvestment Act (ARRA) of 2009, which boosted personal current transfer receipts in May much more than in June. Excluding those effects, real DPI decreased 0.5 percent in June. Real consumer spending (spending adjusted for price changes) fell 0.1 percent in June, after remaining flat in May. PCE prices rose 0.5 percent in June. Excluding food and energy, prices rose 0.2 percent. Personal saving as a percent of disposable income was 4.6 percent in June. Average, last 12 months May June –0.3 % 1.3 % –1.3 % Excluding one-time ARRA items 0.0 % –0.1 % Real DPI –0.1 % Excluding one-time ARRA items 1.5 % 0.0 % –1.8 % –0.5 % Real PCE –0.2 % 0.0 % –0.1 % 0.0 % 0.1 % 0.5 % 12-month average May June 3.8 % 6.2 % 4.6 % Personal Income PCE Prices Personal Saving Rate 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 Mar Apr May Jun 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 August 28, 2009, the July estimates of Personal Income and Outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce