Personal income in the United States increased 0.1 percent month-over-month in July of 2019, following an upwardly revised 0.5 percent gain in June and below market expectations of a 0.3 percent rise. This is the smallest gain in personal income since last September, as increases in compensation of employees and government social benefits to persons were partially offset by a decrease in personal interest income. Wages and salaries, the largest component of personal income, increased 0.2 percent in July, following a 0.5 percent rise in the prior month. Personal Income in the United States averaged 0.53 percent from 1959 until 2019, reaching an all time high of 4.60 percent in May of 2008 and a record low of -4.70 percent in January of 2013.
Personal Income in the United States is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Income in the United States to stand at 0.30 in 12 months time. In the long-term, the United States Personal Income is projected to trend around 0.30 percent in 2020, according to our econometric models.