Keeping you up to date on the latest data releases.
- Personal Income
Nominal personal income ticked up 0.1 percent (non-annualized) in June, following a 0.2 percent gain in May. On a year-over-year basis, personal income is up 5.0 percent. Disposable personal income rose just 0.1 percent in June, its slowest nominal monthly growth since last November. However, after adjusting for price changes, “real” disposable personal income rose 0.3 percent, its strongest monthly increase since last October. Still, real disposable income has been relatively weak lately, and has risen just 0.8 percent over the last 6 months and 1.1 percent over the last year. Real personal consumption expenditures were virtually flat in June, following two consecutive declines. While falling motor vehicles and parts purchases accounted for most of May and June’s softness, consumption of nondurables and services have been roughly flat over that time period. Over the past year, real consumption is up 1.8 percent, though the series has lost momentum lately and has slowed to a sluggish 0.6 percent annualized growth rate over the past 6 months.