July 2011 Personal Income and Outlays, Retail Sales and Consumer Debt

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Bureau of Economic Analysis data showed that personal income increased $42.4 billion (0.3 percent) and disposable personal income (DPI) increased $32.5 billion (0.3 percent) in July. Personal consumption expenditures (PCE) increased $88.4 billion (0.8 percent). Real (inflation-adjusted) DPI decreased 0.1 percent while real PCE increased 0.5 percent.
 

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Retail sales rose by 0.5 percent in nominal terms during July. The “other” category exhibited the largest percent change (+0.6 percent). Within that category, gas stations saw the largest percentage increase (1.6 percent).
 

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Total consumer debt outstanding increased for a tenth month in July, jumping to a seasonally adjusted and annualized rate of 5.9 percent. The month-to-month increase in not seasonally adjusted revolving debt was $1.5 billion, less than one-tenth the size of the increase in non-revolving credit. The overall debt increase was broad based: only non-financial business loans and pools of securitized assets shrank.