HomeWorld Business Magazine, homeworldbusiness.com | The Newspaper For Housewares Decision Makers

BEA: Consumers Spent More In July

Friday August 31st, 2012 - 9:51AM

According to the United States Bureau of Economic Analysis, personal income increased $42.3 billion, or 0.3%, and disposable personal income increased $39.9 billion, or 0.3%, in July. Personal consumption expenditures also increased, these by $46 billion, or 0.4%.

By comparison, in June, personal income increased $46.1 billion, or 0.3%, DPI increased $37.4 billion, or 0.3%, and PCE increased $3.5 billion, or less than 0.1%, based on revised estimates.

Real disposable income increased 0.3% in July versus 0.2% in June. Real PCE increased 0.4% in July compared with a decrease of 0.1% in the month earlier. BEA adjusts real metrics to eliminate the impact of price changes.