US Consumer Spending Picks Up in June


U.S. consumer expenditure increased 0.4 percent after rising by an upwardly revised 0.3 percent in May, supported by rise in income.

Rise in spending for a fifth streight month has been supported by steady gains in income. Current-dollar disposable personal income (DPI), after-tax income, rose 0.4 percent in June and in May. Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in June and in May.

Private wages and salaries increased $28.9 billion in June, compared with an increase of $28.2 billion in May.  Goods-producing industries' payrolls increased $7.6 billion, compared with an increase of $8.6 billion; manufacturing payrolls increased $4.3 billion, compared with an increase of $6.5 billion.  Services-producing industries' payrolls increased $21.3 billion, compared with an increase of $19.5 billion.  Government wages and salaries increased $1.7 billion, compared with an increase of $1.3 billion.


Real consumer spending, spending adjusted for price changes, rose 0.2 percent in June after increasing 0.1 percent in May. Spending on nondurable goods increased 0.3 percent in June after decreasing 0.3 percent in May.

US Consumer Spending Picks Up in June


U.S. Bureau of Economic Analysis| anna@tradingeconomics.com
8/1/2014 1:57:42 PM