Wednesday, October 01, 2008

Personal Income and Outlays Increased in August

The American economy is still strong and growing, albeit a slower pace.

Americans' personal income increased $61.5 billion in August to a seasonally adjusted annual rate of $12,267.1 billion, according to figures released by the Commerce Department's Bureau of Economic Analysis on September 29, 2008. Revised figures for July show a decrease of $69.0 billion. Personal outlays in August increased $4.0 billion, to $10,614.3 billion, after an increase of $14.4 billion in July. Personal consumption expenditures increased $3.9 billion in August, compared with a July increase of $14.2 billion. Personal saving was $103.6 billion in August, compared with $201.0 billion in July.

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