Personal income decreased $159.8 billion, or 1.3 percent, and disposable personal income decreased $143.8 billion, or 1.3 percent, in June from May, according to the Bureau of Economic Analysis. Meanwhile, personal consumption expenditures increased $41.4 billion, or 0.4 percent.
The June change in personal income reflects selected provisions of the American Recovery and
Reinvestment Act of 2009, which boosted “personal current transfer receipts” in May much more than in June, BEA said. May figures included one-time payments of $250 to eligible individuals receiving social security, supplemental security income, and railroad retirement benefits, while June numbers reflect one-time payments of $250 to eligible individuals receiving veteran benefits. Excluding these payments, personal income decreased $7.8 billion, or 0.1 percent, in June, BEA said.
