Personal Income Grows
Americans' personal income rose $23.9 billion, or 0.8 percent, in June, maintaining roughly a $3 trillion annualized rate, the Commerce Department reported Friday.
Consumer spending slowed down sharply, edging up just 0.2 percent, well under the gains of recent months, the department said.
The figures once again underscore analysts' feeling that the economy is quite robust, though not growing at the rapid first-quarter clip.
June's total personal income, if annualized in figures adjusted to discount for normal seasonal variations, translates into $10,880 for every man, woman, and child in the United States.