US personal income rises 0.2% in July, lower than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Americans' personal income rose 0.2% in July, falling short of market expectations, according to official figures released Thursday.

Personal income climbed $45 billion from the previous month, according to data from the Commerce Department's Bureau of Economic Analysis.

The figure came below the 0.3% increase expected by the market, while personal income for June was unrevised at 0.3%.

Disposable personal income, which is personal income minus personal current taxes, rose $7.3 billion, or less than 0.1%, in July, said the bureau.

"The increase in current-dollar personal income in July primarily reflected an increase in compensation that was partly offset by a decrease in personal current transfer receipts," it said in a statement.