Personal Income Rose 0.4% in July, Spending Up 0.2%

Washington, DC, August 26, 2026—Personal income increased $115.1 billion (0.4% at a monthly rate) in July, according to estimates released by the U.S. Bureau of Economic Analysis (BEA). 

Disposable personal income (DPI)—personal income less personal current taxes—increased $125.9 billion (0.5%), and personal consumption expenditures (PCE) increased $36.3 billion (0.2%).

Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $36.6 billion in July. Personal saving was $712.0 billion in July, and the personal saving rate—personal saving as a percentage of DPI—was 3.0%.

The increase in current-dollar personal income in July primarily reflected increases in compensation, government social benefits, and personal income receipts on assets.

The $36.3 billion increase in current-dollar PCE in July reflected an increase of $86.2 billion in spending on services that was partly offset by a decrease of $49.9 billion in spending on goods.