US Personal Spending Growth Slows to 0.2% in June


Personal consumption in the US increased 0.2 percent in June over the previous month following a downwardly revised gain of 0.7 percent in May. Meanwhile, personal incomes grew 0.4 percent.

Personal income increased $68.1 billion, or 0.4 percent. Disposable personal income (DPI) increased $60.6 billion, or 0.5 percent. In May, personal income increased $66.3 billion, or 0.4 percent, DPI increased $53.8 billion, or 0.4 percent,

Personal consumption expenditures (PCE) increased $25.9 billion, or 0.2 percent.  Consumer spending which accounts fo more than two-thirds of U.S. economic activity was previously reported to have advanced 0.9 percent in May.   

Wages and salaries increased $18.3 billion in June, compared with an increase of $32.0 billion in May. Private wages and salaries increased $16.0 billion in June, compared with an increase of $29.6 billion in May. Government wages and salaries increased $2.3 billion, compared with an increase of $2.4 billion.

A price index for consumer spending rose 0.2 percent after gaining 0.3 percent in May. In the 12 months through June, the personal consumption expenditures (PCE) price index rose 0.3 percent. Excluding food and energy, prices edged up 0.1 percent for the third straight month. The core PCE price index rose 1.3 percent in the 12 months through June. It has increased by the same margin since January.

The estimates released today reflect the results of the annual revision of the national income and product accounts (NIPAs) in conjunction with preliminary estimates for June 2015.  In addition to the regular revision of the estimates for the most recent 3 years and for the first 5 months of 2015, some series are revised back to 1976.  


US Personal Spending Growth Slows to 0.2% in June


U.S. Bureau of Economic Analysis | anna@tradingeconomics.com
8/3/2015 1:51:59 PM