Update Economic USA Personal Income

Personal income increased a very light $3.5 billion in June which was only 5% of the previous month gain of $67.1 billion. The rate of increase in personal income has been in decline since November 2014. It is still expanding in absolute terms, but at a lower rate of expansion. We know, the longer an expansion takes place, the more difficult a higher rate becomes. Personal income must continue to increase for an expanding economy.