Personal Income Up 0.3%, Spending Up 0.5%

Americans are making more and spending more, according to a June Personal Income and Outlays report (link opens as PDF) released today by the Commerce Department.

After increasing a revised 0.4% in May, personal income edged up $45.4 billion (0.3%) in June, missing analysts' mark by 0.1 percentage points.

For the same period, personal spending increased $59.4 billion (0.5%). In this case, analysts' estimates of 0.4% growth proved slightly too conservative after May's revised 0.2% gain . This uptick in spending was accompanied by a 0.2-point decrease in saving -- Americans saved 4.4% of their personal income in June. In a potential sign of longer-term economic optimism, durable goods spending increased another 0.9% on top of May's 0.6% growth.

Overall inflation hit analysts' 0.4% expectation on the mark. Excluding more volatile food and energy prices, analysts' 0.1% growth estimate came in just below the actual 0.2% increase.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2577061, ~/Articles/ArticleHandler.aspx, 4/17/2014 9:45:19 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement