Personal Income Rises Faster Than Outlays; Savings Negative Again

Manufacturing payrolls increased $2.2 billion in June, as personal income rose six-tenths of a percent and personal income expenditures rose four-tenths of a point, the U.S. Commerce Department reported on Aug. 1.

In May, personal income had risen four-tenths of a percent while expenditures increased by six-tenths of a percent.

Personal savings remained negative in June, indicating that many Americans continue to finance purchases with credit cards, home equity loans, existing savings or by selling investments.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish