Real Consumer Spending Slows in August

Personal income increased 0.1 percent in August, the same increase as in July.

Wages and salaries, the largest component of personal income, increased 0.1 percent in August after increasing 0.1 percent in July. Government social benefits to persons turned down in August.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.1 percent in August, the same increase as in July.
Real DPI, income adjusted for taxes and inflation, decreased 0.3 percent in August after increasing 0.1 percent in July.

Real consumer spending, spending adjusted for price changes, increased 0.1 percent in August after increasing 0.4 percent in July. Spending on nondurable goods rose 0.3 percent after increasing 0.6 percent, while spending on services decreased 0.1 after increasing 0.3.

PCE prices increased 0.4 percent in August after remaining flat in July. Excluding food and energy, the PCE price index increased 0.1 percent, the same as in July.

Personal saving rate
Personal saving as a percent of DPI was 3.7 percent in August, compared with 4.1 percent
in July.



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