This post first appeared on Floating Path.
U.S. disposable personal income rose 0.3% in August to a seasonally adjusted annual rate of $13.11 trillion. This increase follows a 0.2% increase in July, and leaves disposable personal income up 4.3% from a year ago.
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Personal outlays for the month totaled $12.41 trillion, a 0.5% increase, leaving personal outlays up 3.8% from the year prior.
Personal savings, which is disposable personal income less personal outlays, decreased to $705.3 billion from $730.5 billion.
The personal savings rate decreased to 5.38% from 5.59%.