News Release
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Personal Income and Outlays, July 2016
Personal income increased $71.6 billion (0.4 percent) in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $60.1 billion (0.4 percent) and personal consumption expenditures (PCE) increased $42.0 billion (0.3 percent). Real DPI increased 0.4 percent in July and Real PCE increased 0.3 percent. The PCE price index was unchanged from June. Excluding food and energy, the PCE price index increased 0.1 percent in July. 2016 Mar Apr May Jun Jul Percent change from preceding month Personal income: Current dollars 0.3 0.6 0.3 0.3 0.4 Disposable personal income: Current dollars 0.3 0.6 0.3 0.3 0.4 Chained (2009) dollars 0.2 0.2 0.1 0.2 0.4 Personal consumption expenditures (PCE): Current dollars 0.0 1.1 0.3 0.5 0.3 Chained (2009) dollars 0.0 0.7 0.2 0.4 0.3 Price indexes: PCE 0.1 0.3 0.2 0.1 0.0 PCE, excluding food and energy 0.1 0.2 0.2 0.1 0.1 Percent change from month one year ago PCE 0.8 1.0 1.0 0.9 0.8 PCE, excluding food and energy 1.6 1.6 1.6 1.6 1.6 The increase in personal income in July primarily reflected increases in wages and salaries and personal current transfer receipts. The increase in real PCE in July reflected increases in spending for new motor vehicles and for services that was partially offset by a decrease in spending for nondurable goods. Personal outlays increased $41.6 billion in July. Personal saving was $794.7 billion in July and the personal saving rate, personal saving as a percentage of disposable personal income, was 5.7 percent. Revisions Estimates have been revised for January through June. The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2009) dollar DPI and PCE -- revised and as published in last month's release -- are shown below. Change from preceding month May June Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 27.0 47.4 0.2 0.3 29.3 53.9 0.2 0.3 Disposable personal income: Current dollars 25.7 43.6 0.2 0.3 24.6 46.3 0.2 0.3 Chained (2009) dollars 1.4 18.0 0.0 0.1 9.4 28.0 0.1 0.2 Personal consumption expenditures: Current dollar 46.1 43.3 0.4 0.3 53.0 69.3 0.4 0.5 Chained (2009) dollars 21.8 19.7 0.2 0.2 36.3 50.0 0.3 0.4 BOX._______________ QCEW Data Included in the First Quarter of 2016 This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for January through March 2016 (first quarter). These estimates reflect the full incorporation of the most recently available first-quarter wage and salary tabulations from the quarterly census of employment and wages (QCEW) from the Bureau of Labor Statistics. ___________________ Next release: September 30, 2016 at 8:30 A.M. EDT Personal Income and Outlays: August 2016