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Personal income increased $39.3 billion (0.2 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $31.9 billion (0.2 percent) and personal consumption expenditures (PCE) increased $6.2 billion (less than 0.1 percent).
Real DPI increased 0.1 percent in August and Real PCE decreased 0.1 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
The increase in personal income in August primarily reflected increases in compensation of employees, personal income receipts on assets, and government social benefits to persons.
The decrease in real PCE in August primarily reflected a decrease in spending for durable goods that was partially offset by an increase in spending for services.
Personal outlays increased $6.1 billion in August. Personal saving was $807.6 billion in August and the personal saving rate, personal saving as a percentage of disposable personal income, was 5.7 percent.
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