Personal Income and Outlays, July 2023

Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July. Disposable personal income (DPI)-personal income less personal current taxes-increased $7.3 billion (less than 0.1 percent). Personal outlays-the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments-increased $153.8 billion (0.8 percent) and consumer spending increased $144.6 billion (0.8 percent). Personal saving was $705.6 billion and the personal saving rate-personal saving as a percentage of disposable personal income-was 3.5 percent in July. Full Text