Weak auto demand crimps U.S. consumer spending
Source: Reuters
Markets | Mon Aug 3, 2015 10:27am EDT
WASHINGTON | By Lucia Mutikani
U.S. consumer spending in June advanced at its slowest pace in four months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter.
But the moderation in consumer spending could be temporary as some automakers on Monday reported stronger-than-expected U.S. sales in July, which kept the industry on a pace for its best year in a decade.
Other data showed manufacturing continued to struggle last month, with activity weakening slightly. The combination of anemic consumer spending and sluggish manufacturing likely do not change expectations the Federal Reserve will raise interest rates this year, especially with the labor market tightening.
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Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2 percent after increasing 0.7 percent in May, the Commerce Department said.
Read more: http://www.reuters.com/article/2015/08/03/us-usa-economy-idUSKCN0Q81C220150803
Personal Income and Outlays, June 2015; Includes historical revisions
Personal income increased $68.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $60.6 billion, or 0.5 percent, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $25.9 billion, or 0.2 percent. In May, personal income increased $66.3 billion, or 0.4 percent, DPI increased $53.8 billion, or 0.4 percent, and PCE increased $90.8 billion, or 0.7 percent, based on revised estimates.
June 2015: 0.4 % change
BEA 15—36
Technical: James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov
Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
Kurt Kunze: (202) 606-9748 (Revisions)
Media: Jeannine Aversa (202) 606-2649
PERSONAL INCOME AND OUTLAYS: JUNE 2015
REVISED ESTIMATES: 1976 THROUGH MAY 2015
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NOTE. BEA acknowledges the special efforts by the Bureau of Labor Statistics with the assistance of 18 state employment offices in providing preliminary data for the first quarter of 2015 from the quarterly census of employment and wages (QCEW). Wage and salary data from the state employment offices of California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Massachusetts, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, and Utah were provided. These data have greatly improved the estimates of wages and salaries.
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Revisions
Revisions to the personal income and outlays estimates reflect the results of the annual revision of the national income and product accounts (NIPAs). These revisions, usually made each July, incorporate newly available and more comprehensive source data, as well as improved estimation methodologies. This year’s revision incorporates a new classification of federal refundable tax credits, which revised personal income, personal current taxes, government current receipts, and government current expenditures. The timespan of the revisions is January 1976 through May 2015.
Revisions to annual estimates of personal income and outlays for 2012 through 2014 are shown in table 12. Revised and previously published monthly estimates of personal income, DPI, PCE, personal saving as a percentage of DPI, real DPI, and real PCE are shown in table 13; revised and previously published annual and quarterly estimates are shown in table 14.
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BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of Current Business are available for free on BEA's Web site at www.bea.gov. The entire historical time series for these estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm.
BEA's news release schedule is available at www.bea.gov/newsreleases/2015rd.htm.
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Next release – August 28, 2015 at 8:30 A.M. EDT for Personal Income and Outlays for July
Wait: they revised 39 years' worth of data at once?
= new reply since forum marked as read
they try to blow out stock. 
