Last month, personal income in the nation saw a slight uptick – increasing $30 billion, or 0.2 percent.
Disposable personal income also increased 0.2 percent, or $17.6 billion, according to the latest Bureau of Economic Analysis statistics.
These are small signs that the economy is continuing its sluggish recovery.
During the same month, personal consumption expenditures increased $44.1 billion, or 0.4 percent, although real disposable income decreased 0.1 percent last month, compared to an increase of 0.1 percent in June. Real personal consumption expenditures, however, increased 0.2 percent, compared to June’s increase of 0.1 percent.
In June, private wage and salary disbursements decreased $5 billion, but increased $23.3 billion in July. And payrolls in goods-producing industries increased $6.3 billion, after decreasing $8.5 billion in June.
Manufacturing payrolls increased $5.3 billion, after decreasing the same amount during June.
Payrolls in services-producing industries increased $17 billion, after increasing only $3.5 billion in June.
All told, the manufacturing, services and goods sectors showed strong signs of recovery during July.
To view the full report, visit the BEA website.