Personal income increased 0.4% in July after showing no change in June. Wages and salaries, the largest component of personal income, increased 0.5 percent in July, the same increase as in June.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in July after remaining unchanged in June. Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in July after showing no change in June.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.2 percent in July, the same increase as in June. Spending on durable goods increased 0.8 percent in July, the same increase as in June.

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