US Personal Spending Climbs 0.3%


Personal consumption in the US increased 0.3 percent in July of 2015, the same as an upwardly revised 0.3 percent rise in June, but below market expectations. Income rose 0.4 percent for the fourth straight month.

Consumer spending which accounts for more than two-thirds of U.S. GDP was previously reported to have advanced 0.2 percent in June.

Personal income increased $67.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $61.5 billion, or 0.5 percent, in July. In June, personal income increased $59.4 billion, or 0.4 percent and DPI increased $52.4 billion, or 0.4 percent.

Wages and salaries increased by $35.8 billion or 0.5 percent in July, compared with a rise of $14.3 billion in June. It is the biggest rise since November. Private wages and salaries increased $32.7 billion, compared with an increase of $11.0 billion.  Government wages and salaries increased $3.1 billion, compared with an increase of $3.3 billion.

The price index for consumer spending increased 0.1 percent in July, compared with an increase of 0.2 percent in June. Excluding food and energy, the index increased 0.1 percent in July, the same increase as in June.

US Personal Spending Climbs 0.3%


U.S. Bureau of Economic Analysis | Joana Taborda | joana.taborda@tradingeconomics.com
8/28/2015 1:54:23 PM