Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income rose 0.5 percent (non-annualized) in August, following a 0.2 percent increase in July. Its 12-month growth rate climbed to 3.3 percent during the month (its highest growth rate since September 2008. Nominal disposable income—income less current taxes—increased 0.5 percent in August. After adjusting for price changes, “real” disposable income rose 0.2 percent, reversing a 0.2 percent loss in July. Still, the series is trending at an annualized rate of just 0.9 percent over the past three months, compared to its 12-month growth rate of 1.7 percent. Real personal consumption continued to post modest gains, rising 0.2 percent in August, its fourth straight monthly increase. The personal saving rate ticked up from 5.7 percent to 5.8 percent during the month and has been bouncing around 6.0 percent for the past five months or so.