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7/31/2020, 2:30 PM (Source: TeleTrader)
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US personal spending jumps 5.6% in June

The United States personal consumption expenditures (PCE) rose by $737.7 billion or 5.6% month on month in June, the Bureau of Economic Analysis reported on Friday.

The PCE price index was up 0.4% on a monthly basis. With food and energy excluded, it showed an increase of 0.2%. Annually, the PCE price index advanced 0.8% and excluding food and energy it was up 0.9%.

Personal income fell by 1.1%, or $222.8 billion month on month, while disposable personal income (DPI) decreased 1.4%, or $255.3 billion. Real PCE climbed 5.2%, while real DPI slid 1.8% in comparison to the previous month.

Breaking the News / NP