US Personal Spending Above Forecasts

Personal consumption in the US went up 0.4 percent in August of 2015, the same as in July and beating market expectations. It is the seventh consecutive month of spending growth. Income rose 0.3 percent, the smallest gain in five months.
U.S. Bureau of Economic Analysis | Joana Taborda | joana.taborda@tradingeconomics.com 9/28/2015 2:33:55 PM
Consumer spending which accounts for more than two-thirds of U.S. GDP was previously reported to have advanced 0.3 percent in July.

Personal income increased $52.5 billion or 0.3 percent, and disposable personal income (DPI) increased $47.1 billion, or 0.4 percent, in August. In July, personal income increased $69.6 billion, or 0.5 percent, DPI increased $63.9 billion, or 0.5 percent, and PCE increased $45.7 billion, or 0.4 percent, based on revised estimates.

Wages and salaries increased $35.6 billion in August, compared with an increase of $43.8 billion in July.  Private wages and salaries increased $31.5 billion, compared with an increase of $40.0 billion. Government wages and salaries increased $4.1 billion, compared with an increase of $3.8 billion.

The price index for PCE increased less than 0.1 percent in August, compared with an increase of 0.1 percent in July.  The PCE price index, excluding food and energy, increased 0.1 percent in August, the same as in July.

US Personal Spending Above Forecasts