Income & Saving

Personal income increased $115.1 billion (0.4 percent at a monthly rate) in July, according to estimates released today 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 percent), and personal consumption expenditures (PCE) increased $36.3 billion (0.2 percent). 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 percent.