Personal Income Rose 0.3% in July, Spending Up 0.5%

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Personal Income Rose 0.3% in July, Spending Up 0.5%

Washington, DC, August 30, 2024-Personal income increased $75.1 billion (0.3% at a monthly rate) in July, according to estimates by the U.S. Bureau of Economic Analysis.

Disposable personal income (DPI), personal income less personal current taxes, increased $54.8 billion (0.3%), and personal consumption expenditures (PCE) increased $103.8 billion (0.5%).

The PCE price index increased 0.2%. Excluding food and energy, the PCE price index increased 0.2%. Real DPI increased 0.1% in July, and real PCE increased 0.4%; goods increased 0.7% and services increased 0.2%.