News Release

These data have been superseded. Please see our latest releases for current estimates and contact information.

EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Friday, July 26, 2024

Personal Income and Outlays, June 2024

Personal income increased $50.4 billion (0.2 percent at a monthly rate) in June, according to estimates released today by the U.S. Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $37.7 billion (0.2 percent) and personal consumption expenditures (PCE) increased $57.6 billion (0.3 percent).

The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent (table 5). Real DPI increased 0.1 percent in June and real PCE increased 0.2 percent; goods increased 0.2 percent and services increased 0.2 percent (tables 3 and 4).

2024
Feb. Mar. Apr. May June
Percent change from preceding month
Personal income:
Current dollars 0.3 0.5 0.2 0.4 0.2
Disposable personal income:
Current dollars 0.2 0.5 0.2 0.4 0.2
Chained (2017) dollars -0.1 0.2 -0.1 0.3 0.1
Personal consumption expenditures (PCE):
Current dollars 0.6 0.7 0.2 0.4 0.3
Chained (2017) dollars 0.2 0.3 -0.1 0.4 0.2
Price indexes:
PCE 0.3 0.3 0.3 0.0 0.1
PCE, excluding food and energy 0.3 0.3 0.3 0.1 0.2
Price indexes: Percent change from month one year ago
PCE 2.5 2.7 2.7 2.6 2.5
PCE, excluding food and energy 2.8 2.8 2.8 2.6 2.6

The increase in current-dollar personal income in June primarily reflected increases in compensation and personal current transfer receipts (table 2).

The $57.6 billion increase in current-dollar PCE in June reflected an increase of $53.1 billion in spending for services and an increase of $4.5 billion in spending for goods (table 2). Within services, the largest contributors to the increase were other services (led by international travel) and housing and utilities (led by housing). Within goods, the largest contributors to the increase were other nondurable goods (led by pharmaceutical and other medical products) and recreational goods and vehicles (led by information processing equipment). These increases were partly offset by decreases in motor vehicles and parts (led by new motor vehicles) and gasoline and other energy goods. Detailed information on monthly PCE spending can be found on Table 2.4.4U.

From the same month one year ago, the PCE price index for June increased 2.5 percent (table 7). Prices for goods decreased 0.2 percent and prices for services increased 3.9 percent. Food prices increased 1.4 percent and energy prices increased 2.0 percent. Excluding food and energy, the PCE price index increased 2.6 percent from one year ago.

Real PCE

The 0.2 percent increase in real PCE in June reflected an increase of 0.2 percent in spending on goods and an increase of 0.2 percent in spending on services (table 4). Within goods, the largest contributor to the increase was recreational goods and vehicles (led by information processing equipment). Within services, the largest contributor to the increase was housing and utilities. Detailed information on monthly real PCE spending can be found on

Change from preceding month
April May
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal income:
Current dollars 63.0 52.7 0.3 0.2 114.1 98.7 0.5 0.4
Disposable personal income:
Current dollars 52.0 38.4 0.3 0.2 94.0 76.3 0.5 0.4
Chained (2017) dollars -2.4 -13.9 0.0 -0.1 77.7 56.8 0.5 0.3
Personal consumption expenditures:
Current dollars 26.3 39.1 0.1 0.2 47.8 83.7 0.2 0.4
Chained (2017) dollars -20.1 -10.1 -0.1 -0.1 40.2 63.3 0.3 0.4
Annual Update of the National Economic Accounts

BEA will release results from the 2024 annual update of the National Economic Accounts, which include the National Income and Product Accounts as well as the Industry Economic Accounts, on September 26, 2024. The update will present revised statistics for GDP, GDP by Industry, and gross domestic income. Updated monthly personal income and outlays will be released on September 27, along with the August 2024 estimate. For details, refer to Information on 2024 Annual Updates to the National, Industry, and State and Local Economic Accounts.

Next release: August 30, 2024, at 8:30 a.m. EDT
Personal Income and Outlays, July 2024