This article first appeared on Floating Path.
Disposable personal income rose 0.1% in July to a seasonally adjusted annual rate of $13.06 trillion. This increase follows a 0.5% increase in June, and leaves disposable personal income up 4.5% from a year ago.
Personal outlays for the month totaled $12.32 trillion, a 0.1% decrease, leaving personal outlays up 3.5% from the year prior.
Personal savings, which is disposable personal income less personal outlays, increased to $739.1 billion from $709.4 billion. The personal savings rate increased to 5.66% from 5.44%.
