EconUpdate by P. Duffy
Construction spending mostly flat in June, up 8.2 percent year-on-year
Construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, up 0.1 percent from May and 8.2 percent year-on-year. During the first six months of this year, construction spending amounted to $736.5 billion, up 5.4 percent above the same period of 2020.
June personal income edges up 0.1 percent as personal spending increases 1.0 percent
In June, personal income increased 0.1 percent, disposable personal income (DPI) decreased less than 0.1 percent and personal consumption expenditures (PCE) increased 1.0 percent, leading to a decline in the savings rate to 9.4 percent.
Inflation tracker PCE Price Index up 0.5 percent in July and 4.0 percent year-on-year
The PCE price index increased 0.5 percent in June and 4.0 percent from one year ago, reflecting increases in both goods and services, with energy prices up 24.2 percent while food prices increased 0.9 percent. Excluding food and energy, the PCE price index rose 0.4 percent in June and was up 3.5 percent from one year ago.