July Personal Income and Outlays Data
The U.S. Bureau of Economic Analysis reported that personal income rose by $115.1 billion in July, while disposable personal income increased $125.9 billion. Personal consumption expenditures grew $36.3 billion, and the personal saving rate stood at 3.0 %.
July Personal Income and Outlays Data
The U.S. Bureau of Economic Analysis (BEA) released its July 2026 personal income and outlays estimates today. Personal income climbed $115.1 billion, a 0.4 percent rise at the monthly rate. Disposable personal income (DPI) increased $125.9 billion, up 0.5 percent, and personal consumption expenditures (PCE) grew $36.3 billion, a 0.2 percent gain.
Monthly Income Figures
The July increase in current-dollar personal income was driven mainly by higher compensation, government social benefits, and income receipts on assets. Within compensation, private wages and salaries led the rise, based on BLS Current Employment Statistics. Government social benefits saw a lift from Medicaid and Medicare payments, and dividend income topped the asset-income gains.
| Item | July Increase | Monthly % | Source |
|---|---|---|---|
| Personal income | $115.1 billion | 0.4 % | BEA |
| Disposable personal income | $125.9 billion | 0.5 % | BEA |
| Personal consumption expenditures | $36.3 billion | 0.2 % | BEA |
| Personal outlays | $36.6 billion | - | BEA |
| Personal saving | $712.0 billion | - | BEA |
| Personal saving rate | 3.0 % | - | BEA |
Consumption and Prices
The $36.3 billion rise in PCE reflected an $86.2 billion increase in services spending, partially offset by a $49.9 billion decline in goods spending. Real PCE advanced $1.3 billion, less than 0.1 percent at the monthly rate. The PCE price index for July rose 0.2 percent, with the food-and-energy-excluded index also up 0.2 percent. From a year earlier, the overall PCE price index increased 3.7 percent, and the core index (excluding food and energy) rose 3.3 percent.
Savings and Outlays
Personal outlays, the sum of PCE, personal interest payments, and personal current transfer payments, increased $36.6 billion in July. Personal saving reached $712.0 billion, and the saving rate-personal saving as a percentage of DPI-was 3.0 percent. These figures are available in the BEA’s Interactive Data Application and can be explored through the stats page for deeper analysis.
Annual Update Schedule
The BEA announced that the 2026 annual updates of national, industry, and regional data will commence on September 30, 2026, for the first time on the same day. The National Economic Accounts update will include GDP, gross domestic income, GDP by industry, monthly personal income and outlays, and related statistics. The Regional Economic Accounts update will cover GDP by state and county, personal income by state and county, and related data. For more details, see the “Information on 2026 Annual Updates to the National, Industry, State, and County Statistics” section.
Technical Notes
Revisions to personal income estimates for April through June were made to incorporate updated BLS CES data on employment, hours, and earnings, as well as revised Medicaid benefits from the Centers for Medicare & Medicaid Services. The next release, scheduled for September 30, 2026 at 8:30 a.m. EDT, will supersede today’s data. Updated monthly estimates of personal income and outlays will also appear on that date, along with the August 2026 estimate. For a historical view of these estimates, consult the BEA’s Interactive Data Application or the fixtures page for related datasets.
The BEA’s technical notes also reference several data tables, including Table 2.6 on Personal Income and Its Disposition and Tables 2.8.1 through 2.8.11 covering real PCE by major product types and price changes. These tables provide a detailed breakdown of the July figures and are accessible via the BEA’s data archive once the next release is posted.
