Personal Income Up 0.4% in July, Spending Up 0.5%

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Personal Income Up 0.4% in July, Spending Up 0.5%

Washington, DC, August 29, 2025-Personal income increased $112.3 billion (0.4% at a monthly rate) in July, according to estimates released by the U.S. Bureau of Economic Analysis.

Disposable personal income (DPI)-personal income less personal current taxes-increased $93.9 billion (0.4%) and personal consumption expenditures (PCE) increased $108.9 billion (0.5%).

Personal outlays-the sum of PCE, personal interest payments, and personal current transfer payments-increased $110.9 billion in July. Personal saving was $985.6 billion in July and the personal saving rate-personal saving as a percentage of disposable personal income-was 4.4%.

The increase in current-dollar personal income in July primarily reflected an increase in compensation.