Personal Income decreased 2.7% in August, Spending increased 1.0%

The BEA released the Personal Income and Outlays report for August: Personal income decreased $543.5 billion (2.7 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) decreased $570.9 billion (3.2 percent) and personal consumption expenditures (PCE) increased $141.1 billion (1.0 percent). Real DPI decreased 3.5 percent in August and Real PCE increased 0.7 percent. The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.3 percent. The decrease in personal income was below......(read more)

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