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SS B E A NEWS RELEASE B U R E A U O F E C O N O M IC A N A L Y SIS U .S . D E P A R T M E N T O F C O M M E R C E E M B A R G O E D U N T I L R E L E A S E A T 8 : 3 0 A .M . E D T , F R I D A Y , M A Y 2 6 , 2 0 0 6 J a m e s E . R a n k in : (2 0 2 ) 6 0 6 -5 3 0 1 (P e rso n a l In c o m e ) M ic h a e l A rm a h : (2 0 2 ) 6 0 6 -5 3 0 2 (P e r s o n a l O u tla y s ) B E A 0 6 -2 1 P E R SO N A L IN C O M E A N D O U TL A Y S: A PR IL 2006 P e r s o n a l in c o m e in c r e a s e d $ 5 7 .9 b illio n , o r 0 .5 p e r c e n t, a n d d is p o s a b le p e r s o n a l in c o m e ( D P I ) in c r e a s e d $ 3 6 .6 b illio n , o r 0 .4 p e r c e n t, in A p r il, a c c o r d in g to th e B u r e a u o f E c o n o m ic A n a ly s is . P e r s o n a l c o n s u m p tio n e x p e n d itu r e s (P C E ) in c r e a s e d $ 5 5 .0 b illio n , o r 0 .6 p e r c e n t. In M a r ch , p e r s o n a l in c o m e in c r e a s e d $ 4 8 .3 b illio n , o r 0 .5 p e r c e n t, D P I in c r e a s e d $ 3 7 .2 b illio n , o r 0 .4 p e r c e n t, a n d P C E in c r e a s e d $ 4 6 .4 b illio n , o r 0 .5 p e r c e n t, b a s e d o n r e v is e d e s tim a te s . 2005 _____________________ 2 0 0 6 ____________________ D ec. Jan. F eb. M ar. A p r. (P e r c e n t c h a n g e fr o m p r e c e d in g m o n th ) P e r s o n a l in c o m e , c u r r e n t d o lla r s 0 .5 0 .7 0 .4 0 .5 0 .5 C u r r e n t d o lla r s 0 .5 0 .3 0 .3 0 .4 0 .4 C h a in e d ( 2 0 0 0 ) d o lla r s 0 .5 - 0 .2 0 .2 0.0 C u r r e n t d o lla r s 0 .7 0 .8 0 .3 0 .5 0 .6 C h a in e d ( 2 0 0 0 ) d o lla r s 0 .7 0 .3 0 .2 0.1 0.1 D is p o s a b le p e r s o n a l in c o m e : - 0.1 P e r s o n a l c o n s u m p tio n e x p e n d itu r e s : T h is n e w s r e le a s e p r e s e n t s r e v is e d e s t im a t e s o f w a g e s a n d s a la r ie s , p e r s o n a l t a x e s , a n d c o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e fo r O c to b e r th r o u g h D e c e m b e r 2 0 0 5 (fo u r th q u a r te r). T h e s e e s t im a t e s r e f le c t n e w l y a v a ila b le fo u r th -q u a r te r w a g e a n d s a la r y t a b u la tio n s f r o m t h e q u a r te r ly c e n s u s o f e m p lo y m e n t a n d w a g e s fr o m th e B u r e a u o f L a b o r S ta tis tic s . N O T E .- M o n t h ly e s tim a te s a re e x p r e s s e d at s e a s o n a lly a d ju ste d a n n u a l r a te s, u n le s s o th e r w is e s p e c ifie d . M o n th to -m o n th d o lla r c h a n g e s a re d if f e r e n c e s b e tw e e n th e s e p u b lis h e d e s tim a te s . M o n th -to -m o n th p e r c e n t c h a n g e s are c a lc u la t e d f r o m u n r o u n d e d d a ta a n d a r e n o t a n n u a liz e d . “ R e a l” e s t im a t e s a r e in c h a in e d ( 2 0 0 0 ) d o lla r s . T h is n e w s r e le a s e is a v a ila b le o n B E A 's W e b s it e at w w w .b e a .g o v /b e a /r e ls .h t m . -more- - 2 - W a g e s a n d s a l a r ie s P r iv a t e w a g e a n d s a la r y d is b u r s e m e n t s in c r e a s e d $ 5 0 .4 b i ll io n in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 2 7 .3 b illio n in M a r c h . G o o d s - p r o d u c in g in d u s tr ie s ' p a y r o lls in c r e a s e d $ 7 .6 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 3 .4 b illio n ; m a n u fa c tu r in g p a y r o lls in c r e a s e d $ 5 .2 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 2 .2 b illio n . S e r v ic e s - p r o d u c in g in d u s tr ie s ' p a y r o lls in c r e a s e d $ 4 2 .6 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 2 4 .0 b illio n . G o v e r n m e n t w a g e a n d s a la r y d is b u r s e m e n t s in c r e a s e d $ 1 .5 b i ll io n in A p r il, t h e s a m e in c r e a s e a s in M a r c h . D isp o sab le P erso nal In co m e and P erso nal O utlays J a n u a ry 2002 throu gh A pril 2006 (B illio n s o f d o lla r s ; s e a s o n a lly a d ju s te d a t a n n u a l r a te s ) -more- -3 - O th e r p e r s o n a l in c o m e S u p p le m e n ts to w a g e s a n d s a la r ie s in c r e a s e d $ 8 .2 b illio n in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 9 .6 b illio n in M a r c h . P r o p r ie to r s ' i n c o m e in c r e a s e d $ 1 .6 b i ll io n in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 6 .1 b i ll io n in M a r c h . F a r m p r o p r ie to r s ' in c o m e d e c r e a s e d $ 0 .6 b illio n , c o m p a r e d w it h a d e c r e a s e o f $ 2 .3 b illio n . N o n f a r m p r o p r ie to r s ' in c o m e in c r e a s e d $ 2 .3 b ill io n , c o m p a r e d w it h a n in c r e a s e o f $ 8 .3 b illio n . R e n ta l in c o m e o f p e r s o n s d e c r e a s e d $ 7 .1 b illio n in A p r il, c o m p a r e d w it h a d e c r e a s e o f $ 3 .8 b illio n in M a r c h . P e r s o n a l in c o m e r e c e ip ts o f a s s e ts (p e r s o n a l in te r e s t in c o m e p lu s p e r s o n a l d iv id e n d in c o m e ) in c r e a s e d $ 1 0 .2 b illio n , c o m p a r e d w it h a n in c r e a s e o f $ 2 .6 b illio n . P erson al c u r r e n t tr a n sfe r r e c e ip ts in c r e a s e d $ 0 .1 b illio n , c o m p a r e d w it h a n in c r e a s e o f $ 8 .6 b illio n . C o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e — a s u b tr a c tio n in c a lc u la t in g p e r s o n a l i n c o m e — in c r e a s e d $ 6 .9 b illio n in A p r il, a fte r in c r e a s in g $ 3 .6 b illio n in M a r c h . P e r so n a l c u r r e n t ta x e s a n d d is p o s a b le p e r s o n a l in co m e f P e r s o n a l c u r r e n t t a x e s in c r e a s e d $ 2 1 .4 b illio n in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 1 1 .0 b illio n in M a r c h . D is p o s a b le p e r so n a l in c o m e (D P I ) — p e r so n a l in c o m e le s s p e r so n a l cu rren t ta x e s — in c r e a s e d $ 3 6 .6 b illio n , o r 0 .4 p e r c e n t, in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 3 7 .2 b illio n , o r 0 .4 p e r c e n t, in M a r c h . P e r so n a l o u tla y s a n d p e r s o n a l sa v in g P e r s o n a l o u tla y s - P C E , p e r s o n a l in te r e s t p a y m e n ts , a n d p e r s o n a l c u r r e n t tr a n sfe r p a y m e n ts in c r e a s e d $ 5 5 .1 b illio n in A p r il, c o m p a r e d w it h a n in c r e a s e o f $ 4 8 .7 b illio n in M a r c h . PCE in c r e a s e d $ 5 5 .0 b illio n , c o m p a r e d w it h a n in c r e a s e o f $ 4 6 .4 b illio n . P e r s o n a l s a v in g — D P I le s s p e r s o n a l o u tla y s — w a s a n e g a t iv e $ 1 4 6 .8 b illio n in A p r il, c o m p a r e d w ith a n e g a t iv e $ 1 2 8 .2 b illio n in M a r c h . P e r s o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l in c o m e w a s a n e g a t iv e 1 .6 p e r c e n t in A p r il, c o m p a r e d w it h a n e g a t iv e 1 .4 p e r c e n t in M a r c h . N e g a t iv e p e r s o n a l s a v in g r e fle c t s p e r s o n a l o u tla y s th a t e x c e e d d is p o s a b le p e r s o n a l in c o m e . S a v in g fr o m c u r r e n t in c o m e m a y b e n e a r z e r o o r n e g a t iv e w h e n o u tla y s a r e f in a n c e d b y b o r r o w in g ( in c lu d in g b o r r o w in g f in a n c e d th r o u g h c r e d it c a r d s o r h o m e e q u ity lo a n s ) , b y s e llin g in v e s t m e n ts o r o th e r a s s e ts , o r b y u s in g s a v in g s f r o m p r e v io u s p e r io d s . “P e r s o n a l S a v i n g ” o n B E A ’s W e b s ite . -more- F o r m o r e in fo r m a tio n , s e e th e F A Q s o n -4R ea l D P I a n d real P C E R e a l D P I — D P I a d j u s te d t o r e m o v e p r ic e c h a n g e s — d e c r e a s e d 0 .1 p e r c e n t in A p r il, in c o n tr a s t to a n in c r e a s e o f le s s th a n 0 .1 p e r c e n t in M a r c h . R eal PC E - P C E a d ju ste d to r e m o v e p r ic e c h a n g e s - in c r e a s e a s in M a r c h . in c r e a s e d 0 .1 p e r c e n t in A p r il, th e s a m e P u r c h a s e s o f d u r a b le g o o d s in c r e a s e d 0 .3 p e r c e n t in A p r il, c o m p a r e d w it h a n in c r e a s e o f 0 .5 p e r c e n t in M a r c h . to a d e c r e a s e o f 0 .3 p e r c e n t. P u r c h a s e s o f n o n d u r a b le g o o d s in c r e a s e d 0 .2 p e r c e n t, in c o n tr a s t P u r c h a s e s o f s e r v i c e s in c r e a s e d 0 .1 p e r c e n t , c o m p a r e d w it h a n in c r e a s e o f 0 .3 p e r c e n t. R ev isio n s E s tim a te s fo r p e r s o n a l in c o m e a n d D P I h a v e b e e n r e v is e d fo r O c to b e r th r o u g h M a r c h ; e s tim a te s fo r P C E h a v e b e e n r e v is e d fo r J a n u a r y th r o u g h M a r c h . C h a n g e s in p e r s o n a l in c o m e , c u r r e n t-d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r D P I , a n d c u r r e n t-d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r P C E fo r F eb ru a ry a n d M a r c h are s h o w n b e lo w . F o r O c to b e r th r o u g h D e c e m b e r , th e r e v is io n s t o w a g e s a n d s a la r ie s r e fle c t e d th e in c o r p o r a tio n o f n e w ly a v a ila b le B L S ta b u la tio n s o f fo u r th -q u a r te r p r iv a te w a g e s a n d s a la r ie s f r o m th e c e n s u s o f e m p lo y m e n t a n d w a g e s . W a g e s a n d s a la r ie s w e r e r e v is e d d o w n fo r a ll th r e e m o n th s . R e v is io n s to p e r s o n a l c u r r en t ta x e s a n d to c o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e r e fle c te d th e r e v is io n s to w a g e s a n d s a la r ie s . C hange fro m p reced in g m onth F ebruary Previous Revised M arch Previous Revised (Billions of dollars) Previous Revised (Billions of dollars) (Percent) Previous Revised (Percent) Personal Income: C urrent dollars....................... 33.2 37.1 0.3 0.4 49.9 48.3 0.5 0.5 Current dollars..................... 23.1 26.1 0.2 0.3 39.5 37.2 0.4 0.4 Chained (2000) d ollars......... 16.1 18.0 0.2 0.2 4.9 1.9 0.1 0.0 C urrent dollars....................... 20 0 26.2 0.2 0.3 51.8 46.4 0.6 0.5 Chained (2000) d ollars......... 13.4 18.2 0.2 0.2 16.6 10.7 0.2 0.1 D isposable personal income: Personal consum ption expenditures: -more- -5 B E A ’s n a t io n a l, in te r n a t io n a l, r e g io n a l, a n d in d u s tr y e s t im a t e s ; t h e S u r v e y o f C u r r e n t B u s in e s s ; a n d B E A n e w s r e le a s e s a r e a v a ila b le w it h o u t c h a r g e o n B E A ’s W e b s ite a t w w w .b e a .g o v . B y v is it in g th e s ite , y o u c a n a ls o s u b s c r ib e to r e c e iv e fr e e e -m a il s u m m a r ie s o f B E A r e le a s e s a n d a n n o u n c em e n ts. A n n u a l R e v is io n o f th e N a tio n a l I n c o m e a n d P r o d u c t A c c o u n ts A s p a r t o f th e a n n u a l r e v is io n o f th e n a tio n a l in c o m e a n d p r o d u c t a c c o u n t s , r e v is e d e s t im a t e s o f p e r s o n a l in c o m e a n d o u tla y s c o v e r in g J a n u a r y 2 0 0 3 th r o u g h M a y 2 0 0 6 w ill b e r e le a s e d a lo n g w ith p r e lim in a r y e s t im a t e s f o r J u n e 2 0 0 6 o n A u g u s t 1 . A n a r tic le d e s c r ib in g t h e r e v is io n w i l l a p p e a r in th e A u g u s t 2 0 0 6 is s u e o f th e S u r v e y o f C u r r e n t B u s in e s s . N e x t r e le a s e — P e r s o n a l I n c o m e a n d O u tla y s fo r M a y w ill b e r e le a s e d o n J u n e 3 0 , 2 0 0 6 , a t 8 : 3 0 A .M . E D T . -more- T a b le 1.— P e r s o n a l In c o m e a n d Its D is p o s itio n (M o n th s ) [Billions of dollars] Seasonally adjusted at annual rates 2005 Sep. 2006 O c t.r N o v .r Dec.'- J a n .r F eb .r M ar.'- A p r.* 10,696.2 P e rs o n a l in c o m e ...................................................................................................... 10,389.1 10,409.0 10,431.2 10,483.1 10,552.9 10,590.0 10,638.3 C o m p e n s a tio n o f e m p lo y e e s , re c e iv e d ........................................................... 7,212.4 7,205.6 7,202.2 7,231.0 7,291.1 7,329.4 7,368.0 7,428.0 W ag e a n d s a la r y d is b u r s e m e n ts ................................................................. 5,787.7 5,779.4 5,774.6 P rivate in d u s t r ie s .......................................................... .!!!.!!!!!!!!!!!!!!!!!!!!!!!!! G oo ds-produ cing in d u s tr ie s ...................Z Z Z Ü Z Z Z Z Ü Z Z Z Z 4,808.8 1,134.5 726.3 3,674.3 963.7 2,710.6 978.9 5,799.7 5,838.5 5,867.4 4,799.5 1,134.9 729.0 3,664.6 961.4 2,703.2 980.0 5,896.4 4,791.9 1,130.5 721.7 3,661.4 963.5 2,698.0 982.6 4,815.5 1,133.8 722.7 3,681.7 966.4 2,715.3 984.2 5,948.2 4,850.0 1,138.3 724.0 3,711.7 971.4 2,740.3 988.5 4,875.7 1,142.3 726.4 3,733.4 974.7 2,758.7 991.8 4,903.0 1,145.7 728.6 3,757.4 980.2 2,777.2 993.3 4,953.4 1,153.3 733.8 3,800.0 991.8 2,808.3 994.8 1,424.7 1,426.1 994.8 429.8 1,427.6 996.8 429.4 1,431.3 998.9 428.7 1,452.6 1,462.0 1,471.6 1 ,0 0 1 .2 1,479.8 430.1 1,015.0 437.5 1,022.9 439.1 1,030.8 440.8 1,035.7 444.1 958.4 961.3 967.9 17.7 940.7 19.1 942.2 974.0 976.4 975.6 981.7 22.9 951.1 17.5 959.0 15.1 960.6 983.3 2 1 .0 1 2 .8 1 2 .2 968.9 971.2 M a n u fa c tu rin g ...................................... . Z Z Z Z Z Z Z Z Z Z Z Z S e rvic es-pro duc ing indu stries .................... !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! T rade, tra nsp ortation , and u t ilit ie s ............Z Z Z Z Z Z Z Z Z Z O the r serv ice s-p ro du cin g indu stries ..................... !!!!!!!!!!!!!!!!!!!!!!!!!!!! G o v e r n m e n t....................................................................... !...!!!!!!!!!!!!!!!!!!!!.. S u p p le m e n ts to w a g e s a n d s a la r ie s .......................................................... E m ployer c on tribu tio ns fo r em plo ye e pe nsio n an d in su ra nc e f u n d s ....... E m ployer c on tribu tio ns fo r go v ernm en t soc ial in s u r a n c e .......................... P r o p r ie to r s ’ in c o m e w ith in v e n to r y v a lu a tio n a n d c a p it a l c o n s u m p t io n a d ju s t m e n t s ................................................................................. Farm .................................................................. Z Z Z Z Z Z Z Z Z Z Z Ü ! N o n f a r m ........................................................... !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 946.9 R e n ta l in c o m e o f p e r s o n s w ith c a p ita l c o n s u m p t io n a d ju s t m e n t ............. 83.6 79.3 82.7 78.9 72.1 69.5 65.7 58.6 P e rs o n a l in c o m e re c e ip ts o n a s s e ts ............................................................... 1,476.9 P ersonal inte res t incom e ................................ Z Ü Z Z Z Z Z Z Z Z Z Z ! P ersonal divide nd in c o m e ................................ Z Z Z Z Z Z Z Z Z Z ! ! ! ! ! ! 1,494.9 1,512.9 954.4 522.5 1,531.0 1,533.6 967.2 527.7 1,535.6 1,538.2 980.1 532.9 992.9 538.0 1,548.4 991.3 542.3 989.6 546.1 987.9 550.3 993.6 554.7 P e rs o n a l c u r r e n t t r a n s fe r re c e ip ts ................................................................... 1,536.0 1,545.0 1,541.6 1,547.4 1,576.7 1,581.0 1,498.5 851.9 30.0 616.5 37.5 1,504.6 854.8 30.7 619.1 40.4 1,589.6 1,512.1 855.3 29.6 627.2 29.5 1,517.9 865.5 28.7 623.6 29.5 1,589.7 1,547.4 908.3 27.3 611.8 29.3 1,551.7 920.0 26.1 605.7 29.3 1,560.2 929.5 26.1 604.6 29.4 1,560.3 934.8 25.8 599.7 29.4 ................................ 878.1 877.1 876.1 879.1 897.0 901.3 904.9 911.8 L e s s : P e rs o n a l c u r r e n t t a x e s ................................................................................ 1,224.8 1,229.5 1,231.4 1,238.4 1,281.1 1,292.1 1,303.1 1,324.5 .................................................................. 9,164.3 9,179.5 9,199.8 9,244.7 9,271.8 9,297.9 9,335.1 9,371.7 .......................................................................................... 9,185.9 9,209.3 9,251.5 9,314.8 9,386.2 9,414.7 9,463.4 9,518.5 8,877.3 965.3 2,658.7 5,253.4 210.5 121.5 76.7 44.8 8,919.1 1,000.7 2,632.7 5,285.7 8,982.1 1,040.4 2,636.0 5,305.8 2 1 0 .2 1 2 2 .1 2 1 0 .0 To g o v e r n m e n t..................................................... Z Z Z Z Z Z Z Z Z Z " ! To the rest of the w orld ( n e t ) ........................ !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 8,854.8 990.9 2,644.1 5,219.8 210.7 120.4 76.0 44.4 77.4 44.8 122.7 78.0 44.8 9,051.5 1,059.2 2,687.9 5,304.5 211.7 123.0 78.6 44.4 9,077.7 1,040.3 2,680.5 5,356.9 213.4 123.6 79.3 44.4 9,124.1 1,044.3 2,691.9 5,387.8 215.1 124.2 79.9 44.4 9,179.1 1,047.4 2,726.9 5,404.8 214.5 124.9 80.5 44.4 E q u a ls : P e rs o n a l s a v in g ........................................................................................ -21.7 -29.8 -51.7 -70.1 -114.4 -116.8 -128.2 -146.8 P e rs o n a l s a v in g a s a p e rc e n ta g e o f d is p o s a b le p e r s o n a l i n c o m e ........... -.2 -.3 -.6 -.8 -1.2 -1.3 -1 .4 -1 .6 8,131.4 8,126.6 8,179.8 8,220.3 8,206.0 8,224.0 8,225.9 8,218.8 30,827 27,352 297,285 30,852 27,313 297,534 30,897 27,471 297,756 31,027 27,589 297,954 31,098 27,523 298,144 31,166 27,566 298,337 31,269 27,554 298,539 31,369 27,510 298,751 G ov ernm ent soc ial be nefits to p e r s o n s ......... Z Z Z Z Z Z Z Z Z Z Z Z O ld-age, surv ivors , disab ility, and health i n s u r a n œ 'b e n ë f i ï s 'Z Z Z Z Z G ove rnm ent u n em plo y m en t ins urance be ne fits ............. O the r .................................................................................. !!!!.!!!!!!!!!!!!!!!!!!... O ther curre nt tra n sfe r rece ipts, fro m bu s in e s s ’ ( i w t j Z Z Z Z Z Z Z I Z Z ! ! L e s s : C o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e E q u a ls : D is p o s a b le p e rs o n a l in c o m e L e s s : P e rs o n a l o u tla y s P ersonal cons um p tion e x p e n d itu r e s ........................................ D urable g o o d s ........................................ Z Z Z Z Z Z Z Z Z Z ......... .... ... N ondurable g o o d s ...........................................Z Z Z Z Z Z Z Z Z Z Z Z S ervices ........................................................... Z Z Z Z Z Z Z Z Z Z Z Z P ersonal inte res t p a y m e n ts *1 ........................ Z Z Z Z Z Z Z Z Z Z Z Z Z . " P ersonal c u rre nt tra n sfe r p a y m e n t s ................... Z Z Z Z Z Z Z Z Z Z Z Z ! Addenda: D isposable personal incom e: T otal, billions of cha in ed (2000) d o lla rs 2 ........................... Per capita: C urrent do llars ............................................................................................. 2000 c h a in e d ( ) d o ll a r s .............................. !!!!!!!!!!!!!!!!!!!!!!”" ! ..................... P opulation (m idperiod, th o u s a n d s )3 ............ Z Ü Z Z Z Z Ü Z Z Z Z Z Z Ü Ü ! p Pr e lim in ar y ' R e v i s e d . Re v isi o n s in clu d e ch a n g e s t o s e r i e s a f f e ct e d b y t h e in t ro d u ct io n o f r e v is e d w a g e a n d sa l a r y f or t h e f ourt h q u a r t e r o f 2 0 0 5 . a 1 1. Co n s is t s o f n on m o r t g ag e in t e r e st p a id b y h o u se h o ld s. 2 . Eq u a ls d is p o sa b le p e r s o n a l in co m e d e f la t e d b y t h e im p licit p r ice d e fla t o r f or p e r s o n a l co n su m p t io n e x p e n d it u r e s. 3. Po p u la t io n is t h e t o t a l p o p u la t io n o f t h e U n it e d St a t e s , in clu d in g t h e A r m e d Fo r c e s o v e r s e a s a n d t h e in st it u t io n a lize d p o p u lat io n . T h e m o n t h ly e st im a t e i s t h e a v e r a g e o f e st im a t e s f o r t h e f ir st o f t h e m o n t h a n d t h e f ir st o f t h e f o llo w in g m o n t h ; t h e a n n u a l a n d q u a r t e r ly e st im a t e s a r e a v e r a g e s o f t h e m on t h ly e st im a t e s. T a b le 2 .— P e r s o n a l In c o m e a n d Its D is p o s itio n (Y e a r s a n d Q u a rte rs ) [Billions o f dollars] Seasonally adjusted at annual rates 2004 2005r 2004 IV Personal income .................................. I II 2006 III lr IV ' 9,713.3 10,237.7 10,024.8 10,073.4 10,185.7 10,250.4 10,441.1 10,593.7 Compensation of employees, received ... 6,687.6 7,113.1 6,895.8 7,001.7 7,060.2 7,177.6 7,212.9 7,329.5 Wage and salary disbursements ....... 5,389.4 5,712.3 5,562.9 5,629.9 5,672.3 5,762.3 5,784.6 5,867.4 4,450.0 1,049.9 687.7 3,400.1 899.7 2,500.4 939.5 4,740.7 1,117.4 720.0 3,623.3 953.9 2,669.5 971.6 4,612.9 1,083.0 707.8 3,529.9 931.1 2,598.8 950.0 4,668.1 1,099.2 715.3 3,568.8 937.8 2,631.0 961.8 4,705.0 1,107.2 715.5 3,597.9 951.1 2,646.8 967.3 4,787.3 1,130.0 724.7 3,657.4 962.8 2,694.5 975.0 4,802.3 1,133.0 724.5 3,669.3 963.8 2,705.5 982.3 4,876.2 1,142.1 726.3 3,734.2 975.4 2,758.7 991.2 1,298.1 1,400.8 1,332.9 1,371.8 895.5 402.7 1,387.9 1,415.3 1,428.3 975.0 425.8 1,462.1 919.6 413.4 950.0 421.9 964.4 423.5 986.8 428.5 998.9 429.4 1,022.9 439.1 889.6 938.7 900.9 917.9 936.6 932.4 967.7 35.8 853.8 977.9 2 0 .8 24.6 876.3 24.7 893.2 19.6 917.1 18.0 914.3 2 1 .0 15.1 962.8 Private Industries ............................... Goods-producing In d us trie s .......... M anu fa ctu rin g ............................ Services-producing industries ........... Trade, transportation, and u tilitie s .......... Other services-produdng Industries ................ G o ve rn m e nt.......................................... Supplements to wages and salaries .......... Employer contributions for employee pension and Insurance f u n d s ...... Employer contributions for government social in s u ra n c e ........................ Proprietors’ income with inventory valuation and capital consumption adjustments........................................... Farm ....................................................... Nonfarm .............................................. Rental income of persons with capital consumption ad ju stm ent........... Personal income receipts on assets ........... Personal interest income ................... Personal dividend in c o m e ...................... Personal current transfer receipts .............. Government social benefits to p e rs o n s ..... Old-age, survivors, disability, and health insurance b e n e fits .................. Government unemployment insurance benefits ..................................... V 2005 Other current transfer receipts, from business ( n e t ) .................................. ^ L e s s : Contributions for government social insurance ........................... Less: Personal current ta x e s ...................... 917.8 946.7 134.2 72.9 128.7 118.0 104.4 -11.1 80.3 69.1 1,396.5 1,457.4 1,493.6 1,407.9 1,439.8 1,468.9 1,512.9 905.9 490.6 945.7 511.7 1,535.8 907.4 586.2 915.4 492.5 936.0 503.8 951.2 517.6 980.1 532.9 989.6 546.2 1,427.5 1,525.3 1,449.2 1,488.8 1,509.6 1,558.1 1,544.7 1,394.5 789.3 36.0 569.2 33.0 1,483.7 844.7 28.9 610.1 41.6 1,582.4 1,419.5 805.5 32.4 581.5 29.8 1,459.7 828.0 29.4 602.2 29.1 1,480.4 842.2 28.0 610.2 29.2 1,483.2 850.1 28.5 604.6 74.8 1,511.5 858.6 29.7 623.3 33.1 1,553.1 919.2 26.5 607.3 29.3 822.2 869.7 843.5 861.0 864.9 875.4 877.4 901.0 1,049.1 1,207.7 1,094.3 1,171.4 1,206.0 1,220.4 1,233.1 1,292.1 Equals: Disposable personal income ................ 8,664.2 9,029.9 8,930.4 8,902.0 8,979.7 9,030.0 9,208.0 9,301.6 Less: Personal outlays ...................................... 8,512.5 9,072.1 8,725.0 8,854.6 9,001.2 9,173.9 9,258.5 9,421.4 8,214.3 987.8 2,368.3 4,858.2 186.7 111.5 8,416.1 1,008.6 2,437.1 4,970.4 196.2 112.7 71.0 41.7 8,535.8 1,017.3 2,476.6 5,041.8 198.1 8,926.2 1 ,0 0 2 .1 2,642.5 5,281.6 2 1 0 .1 2 1 0 .2 122.1 72.5 48.3 8,677.0 1,035.5 2,533.7 5,107.8 205.3 118.8 73.9 44.9 8,844.0 1,050.9 2,604.9 5,188.3 42.9 8,745.7 1,026.5 2,564.4 5,154.9 205.9 120.4 74.8 45.6 77.3 44.8 9,084.4 1,047.9 2,686.7 5,349.7 213.4 123.6 79.2 44.4 151.8 -42.1 205.4 47.4 -21.5 -143.9 -50.5 -119.8 1.8 -.5 2.3 .5 -.2 -1.6 -.5 -1.3 8,004.3 8 , 1 1 2 .2 8,169.2 8,098.1 8 , 1 0 2 .6 8,074.2 8,175.6 8,218.6 29,477 27,232 293,933 30,437 27,344 296,677 30,269 27,689 295,037 30,111 27,391 295,643 30,307 27,347 296,289 30,401 27,183 297,027 30,926 27,458 297,748 31,178 27,548 298,340 Personal consumption expenditures ........... Durable goods ............................................... Nondurable goods ............................ Services ................................................ Personal interest pa ym ents 1 ................... Personal current transfer p a y m e n ts .......................... To government .................................... To the rest of the world ( n e t ) ...................... Equals: Personal s a v in g ................................. 6 8 .6 Personal saving as a percentage of disposable personal in c o m e ......... 1 2 0 .8 119.9 75.4 44.4 Addenda: Disposable personal income: Total, billions of chained (2000) d olla rs 2 .. Per capita: Current dollars ................................. Chained (2000) dollars .................................. Population (midperiod, thousands ) 3 ............. r Re v is e d . Re v isi o n s in clu d e ch a n g e s t o s e r ie s a f f e ct e d b y t h e in t ro d u ct io n o f r e v i s e d w a g e a n d sa l a r y e st im a t e s f or t h e f o u r th q u a r t e r o f 2 0 0 5. 1. Co n s is t s o f n o n m o r t g a g e in t e re st p a id b y h o u se h o ld s. 2 . Eq u a ls d is p o s a b le p e r s o n a l in co m e d e f la t e d b y t h e im p licit p r ic e d e flat o r f o r p e r s o n a l co n su m p t io n e x p en d it u r e s. 3. Po p u la t io n i s t h e t ot al p o p u la t io n o f t h e U n it e d St a t e s, in clu d in g t h e A r m e d Fo r c e s o v e r se a s a n d t h e in st it u t io n a lize d p o p u lat io n . T h e m o n t h ly e st im a t e is t h e a v e r a g e o f e st im a t e s f o r t h e f irst o f t h e m on t h a n d t h e f irst of t h e f o llo w in g m on t h ; t h e a n n u a l a n d q u ar t e r ly e st im a t e s a r e a v e r a g e s o f t h e m o n t h ly e st im a t e s. T a b le 3 .— P e r s o n a l In c o m e a n d Its D is p o s itio n , C h a n g e fr o m P r e c e d in g P e rio d (M o n th s ) [Billions of dollars] Seasonally adjusted at annual rates 2005 Sep. O c t.r 2006 N o v .r Dec.'- J a n .r F eb .r M ar.'- A p r.i 1 P e rs o n a l In c o m e .................................................................................................. 310.8 19.9 22.2 51.9 69.8 37.1 48.3 57.9 C o m p e n s a tio n o f e m p lo y e e s , re c e iv e d ....................................................... 42.3 -6.8 -3.4 28.8 60.1 38.3 38.6 60.0 ............................................................. 32.6 -8.3 P riv ate Industries ............................................. Z Z Z Z Z Z Z Z Z Z Z G oo ds-p rodu clng In d u s tr ie s ........................ Z Z Z Z Z Z Z Z Z Z -4.8 25.1 38.8 28.3 2.9 .4 25.4 -9 .3 .4 2.7 -9 .7 -2 .3 - 7 .4 28.9 29.0 -7 .6 - 4 .4 - 7 .3 -3 .2 23.6 3.3 51.8 27.3 3.4 24.0 5.5 18.5 1.5 50.4 7.6 5.2 42.6 -5 .2 25.7 4.0 2.4 21.7 3.3 18.4 3.3 W ag e a n d s a la r y d is b u r s e m e n ts 4.3 1.1 2 .6 1 .6 34.5 4.5 1.3 30.0 5.0 25.0 4.3 S u p p le m e n ts t o w a g e s a n d s a l a r i e s ....................................................... 9.7 1.4 E m ploy e r con tributions fo r em ploy ee pe nsio n an d Insurance fu n d s .... E m ploy e r con trib utions fo r go ve rn m en t so c ia l I n s u r a n c e ...................... 7.8 1.5 3.7 21.3 9.4 9.6 2.1 - .4 - .7 13.8 7.4 7.9 1 .8 2.3 1.4 8.2 2 .0 7.9 1.7 4.9 3.3 67.0 2.9 6.6 .3 6.1 2.4 -.8 6.1 1.9 4.7 1.9 4.2 -5 .4 7.9 - 2 .4 1 .6 - 2 .3 8.3 2.3 -6.8 -2 .6 -3 .8 -7.1 M a n u fa c tu rin g .......................................... Z Z Z Z Z Z Z Z Z Z Z S e rvlc es-pro duc lng Industries ...................... Z Z Z Z Z Z Z Z Z " T rade , tra nspo rtation, and u t ilit ie s ................... Z Z Z Z Z Z Z Z O the r service s-p ro du cing in d u s t r ie s ...........................Z Z Z Z Z G o v e r n m e n t.......................................................................... Z Z Z Z Z Z 2 .6 2 2 .8 P r o p r ie to r s ’ in c o m e w ith In v e n to r y v a lu a tio n a n d c a p it a l c o n s u m p t io n a d ju s t m e n t s .................................................................................................. 2.1 1 .0 20.3 2.9 17.3 1 .6 2 .2 1 1 .6 31.1 1.5 1.6 F arm ................................................................ Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z N o n f a r m ................................................................. Z Z Z Z Z Z Z Z Z ! . " 6 6 .6 1.4 1.5 R e n ta l in c o m e o f p e rs o n s w ith c a p ita l c o n s u m p t io n a d ju s t m e n t ......... 297.0 -4.3 3.4 -3 .8 P e rs o n a l in c o m e re c e ip ts o n a s s e ts ........................................................... 8.1 18.0 P ersonal inte re s t incom e ..........................................Z Z Z Z Z Z Z Z Z P ersonal divide nd In c o m e ............................... Z Z Z Z Z Z Z Z Z Z Z Z Z Z 18.0 18.1 2.6 3.2 4.9 2.0 2.6 1 2 .8 5.2 12.9 5.2 10.2 1 2 .8 - 1 .6 4.3 - 1 .7 3.8 - 1 .7 4.2 5.7 4.4 P e rs o n a l c u r r e n t tr a n s fe r re c e ip ts ............................................................... -99.9 9.0 -3 .4 20.4 .7 2.4 17.2 -12 0.3 5.8 29.3 4.3 8.6 7.5 .5 .1 6.1 5.8 29.5 42.8 -1 .4 4.3 11.7 - 12 - 6 .1 8.5 9.5 G ov e rn m en t soc ial be nefits to p e r s o n s .........Z Z Z Z Z Z Z Z Z Z Z Z Z Z Ü ! O ld-age , survivors, disab ility, and health In su ran ce b e n e f it s ................ G o v e rn m en t un em plo ym en t Insurance be ne fits ..... O th e r .......................................................................................................... O th er c u rre n t tra n sfe r receipts, fro m busin ess ( n e t ) Z Z Z Z Z Z Z Z Z Z Z ! L e s s : C o n t r ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e ............................ . 3.6 L e s s : P e rs o n a l c u r r e n t ta x e s ............................................................................. 2.9 .7 - 1.1 2 .6 8.1 2.9 -1 0 .9 -1 .0 -1 .0 5.1 1 0 .2 -.9 -3 .6 - 1 1 .8 0 - 1.1 -.6 .1 5.3 - .3 -4 .9 0 -.2 0 .1 0 3.0 17.9 4.3 3.6 6.9 5.6 4.7 1.9 7.0 42.7 11.0 11.0 21.4 ............................................................... 305.1 15.2 20.3 44.9 27.1 26.1 37.2 36.6 ........................................................................................ 36.8 23.4 42.2 63.3 71.4 28.5 48.7 55.1 P ersonal cons um p tion e x p e n d itu r e s ................................................................. 35.7 -40 .8 40.5 36.0 22.5 -2 5 .6 14.6 33.6 63.0 39.7 3.3 -.2 1.1 69.4 18.8 51.9 -1 .3 1.7 .3 26.2 -18 .9 - 7 .4 52.4 1.7 46.4 4.0 11.4 30.9 1.7 55.0 3.1 35.0 17.0 .6 .6 .6 0 41.8 35.4 -2 6 .0 32.3 - .3 .6 .6 .7 .6 .6 0 .6 0 268.2 -8.1 -21.9 -18.4 -44.3 -2 .4 -11.4 -18.6 196.4 -4 .8 53.2 40.5 -1 4 .3 18.0 1.9 -7.1 E q u a ls : D is p o s a b le p e rs o n a l in c o m e L e s s : P e rs o n a l o u tla y s D urab le g o o d s .......................................................... Z Z Z Z Z Z Z Z Z Z Z ! N on du ra ble g o o d s .................................................. Z Z Z Z Z Z Z Z Z Z Z S e r v ic e s .......................................................... Z Z Z Z Z Z Z Z ...................... P ersonal inte re st p a y m e n ts 1 ................................ Z Z Z Z Z Z Z Z Z Z Z Z Z Z P ersonal c u rren t tra ns fe r p a y m e n t s ........................ . Z Z Z Z Z Z Z Z Z Z Z ! T o g o v e r n m e n t................................................Z Z Z Z Z Z Z Z Z Z Z Z Z Z T o the re st of the w orld ( n e t ) ............................. Z Z Z Z Z Z Z Z Z Z Z E q u a ls : P e rs o n a l s a v in g ...................................................................................... .7 .4 .6 .7 0 2 0 .1 -.2 .6 .6 0 - .4 0 -.6 .7 A ddendum : Real dispo sab le pers ona l incom e, billions o f cha in ed (2 00 0) do llars 2 .......... p Pr e lim in ar y r Re v is e d . R e v is io n s in clu d e ch a n g e s t o s e r ie s a f f e ct e d b y t h e in t r o d u ct io n o f r e v is e d w a q e a n d sa l a r y e st im a t e s f o r t h e f o u r th q u a r t e r o f 2 0 0 5 . 1. Co n s is t s o f n o n m o r t g ag e in t e re st p a id b y h o u se h o ld s. 2 . Eq u a ls d is p o sa b le p e r so n a l in co m e d e f la t ed b y t h e im p licit p r ice d e f la t o r f o r p e r s o n a l co n su m p t io n e xp e n d it u r e s. t T a b le 4 .— P e rs o n a l In c o m e a n d Its D is p o s itio n , C h a n g e fro m P re c e d in g P e rio d (Y e a r s a n d Q u a r te r s ) [Billions of dollars] Seasonally adjusted at annual rates 2004 2005r 2004 IV Personal income ................................ Compensation of employees, received . . Wage and salary disbursements .............. Private industries ............................. Goods-produclng In d u s trie s ............. M an ufa ctu ring ........................... Services-producing Industries ................ Trade, transportation, and u tilitie s ............... Other services-producing Industries ................... G o v e rn m e nt................................. II III IV -• I' 544.2 524.4 295.6 48.6 112.3 64.7 190.7 152.6 425.5 171.6 105.9 58.5 117.4 35.3 116.6 278.3 322.9 140.9 67.0 42.4 90.0 22.3 82.8 242.2 42.7 19.0 199.5 41.1 158.4 36.2 290.7 67.5 32.3 223.2 54.2 169.1 32.1 133.7 20.7 11.7 113.1 24.8 88.3 7.2 55.2 16.2 7.5 38.9 6.7 32.2 36.9 82.3 8 .0 .2 2 2 .8 15.0 3.0 73.9 9.1 88.1 102.7 30.6 65.5 22.7 79.5 23.1 Employer contributions for employee pension and Insurance fu n d s ...... Employer contributions for governm ent social in s u ra n c e ....................... Proprietors’ income with inventory valuation and capital consumption adjustments................................ 1 1 .8 29.1 13.3 15.8 5.5 9.2 59.5 11.7 47.7 7.7 7.3 53.2 8.9 38.9 16.1 27.4 13.0 33.8 21.7 9.0 30.4 8.5 14.4 22.4 5.0 12.1 24.0 9.7 1.6 -.2 1 .8 11.9 64.9 1 .0 1 1 .0 .9 1 1 .6 79.4 49.1 11.8 17.0 18.7 -4.2 35.3 -1 5 .0 64.0 10.2 8.1 -5.1 16.9 .1 71.4 16.9 -5.1 23.9 - 1 .6 - 2 .8 3.0 32.4 -5 .9 16.1 2.5 -61.3 6.6 -10.7 -13.6 -115.5 91.4 -11.2 57.8 60.9 115.4 -85.7 31.9 29.1 44.0 22.9 -1 1 .7 69.5 39.8 2.7 112.7 8 .0 2 0 .6 2 1 .1 -9 3 .7 11.3 15.2 13.8 28.9 15.3 9.5 13.3 Farm ............................................................. Nonfarm ............................................ Rental income of persons with capital consumption adjustm ent........... Personal income receipts on assets ............. Personal current transfer rec e ip ts ..... ■ ^ 1 2006 366.5 Supplements to wages and salaries .... Personal Interest income ........................ Personal dividend in c o m e ........................ 2005 Government social benefits to p e rs o n s .......... Old-age, survivors, disability, and health Insurance b e n e fits ................. Government unemployment insurance benefits ..................................... Other ................................................... Other current transfer receipts, from business (net) .................................. 83.5 97.8 7.7 39.6 20.8 48.5 -13.4 81.0 50.0 -16 .8 47.8 2.5 89.2 55.4 -7.1 40.9 37.7 22.4 40.2 22.5 -3 .0 20.7 - .7 20.7 14.2 -1 .4 2 .8 28.3 8.5 18.7 -4 1 .7 41.6 60.6 -3 .2 -1 6 .0 -3 .8 Less: Contributions for government social insurance ........................... 45.6 47.5 17.6 23.6 49.2 158.6 35.9 495.0 365.7 259.5 Less: Personal current taxes ...................... Equals: Disposable personal income ................... 8 .6 1 1 .8 -.9 11.4 -14 .6 8 .0 .1 7.9 .5 -5 .6 45.6 17.5 3.9 10.5 2.0 77.1 34.6 14.4 12.7 59.0 -28.4 77.7 50.3 178.0 93.6 1 .2 Less: Personal outlays .............................. 516.2 559.6 158.7 129.6 146.6 172.7 84.6 162.9 Personal consumption expenditures .......... Durable g o o d s ..................................... Nondurable g o o d s .................................. Services ............................................ Personal interest paym ents 1 ................... Personal current transfer p a y m e n ts ......... To g o v e rn m e n t................................. To the rest of the world (net) .............. 504.4 37.7 179.3 287.4 3.5 531.4 38.7 196.1 296.7 19.2 8.9 152.9 14.8 58.7 79.4 5.9 119.7 8.7 39.5 71.4 1.9 141.2 18.2 57.1 167.0 15.4 71.2 80.5 4.8 82.2 -48.8 37.6 93.3 158.2 45.8 44.2 .1 8.1 2 .2 6 .2 2.7 -1 .7 6 .6 - 2 .0 1.4 -3 .4 1.1 6.5 1.7 - .1 1.6 1.5 - .5 1.9 .4 3.2 1.5 1.9 - .4 Equals: Personal saving ............................... -21.0 -193.9 100.8 -158.0 -68.9 -122.4 93.4 -69.3 262.5 107.9 175.9 -71.1 4.5 -2 8 .4 101.4 43.0 8 .2 1.5 6 6 .0 7.2 6 8 .1 Addendum: Real disposable personal income, billions of chained (?nnn) dollars 2 r Re v is e d . R e v is io n s in clu d e ch a n g e s t o s e r ie s a f f e ct e d b y t h e in t ro d u ct io n o f r e v ise d w a g e a n d s a l a r y e st im a t e s f o r t h e f ou r th q u a r t e r o f 2 00 5. 1. Co n s is t s o f n o n m o r t g ag e in t e re st p a id b y h o u se h o ld s. 2 . Eq u a ls d i sp o s a b le p e r so n al in co m e d e f lat ed b y t h e im p licit p r ice d e f la t o r f o r p e r s o n a l co n su m p t io n e x p en d it u r e s. T a b le 5 — P e r s o n a l In c o m e a n d Its D is p o s itio n , P e r c e n t C h a n g e fro m P r e c e d in g P e r io d (M o n th s ) Seasonally adjusted at m onthly rates 2005 Sep. O c t.r 2006 N o v .r J a n .r Dec.'- F eb .r Mar.'- A pr.p Based on current-dollar measures Personal income ................................................ Compensation of employees, re c e iv e d .......... Wage and salary disbursements ................ Supplements to wages and salaries ................... Propnetors’ Income with Inventory valuation and capital consumption adjustments ................................................. Rental income of persons with capital consumption adjustment . Personal income receipts on a s s e ts ............................... Personal Interest income ....................... Personal dividend In c o m e ....................... Personal current transfer r e c e ip ts .................. 3.1 0.2 0.2 .6 .6 - .1 - .1 .1 0 - .1 .3 -5.1 .7 7.5 .5 .3 .9 0.5 0.7 0.4 0.5 0.5 .8 .5 .5 .5 .5 .7 8 .1 .4 .4 .3 .7 4.3 -4 .7 .7 1.5 .6 - .1 .6 .2 -3 .6 -5 .5 .1 -2 .2 -.2 - 1 0 .8 J 1.2 1.2 1.2 1.3 1.3 .2 -.2 1.0 -.2 1.0 - 6.1 1 .0 .6 .8 .4 .4 - .1 - .1 .3 Less: Personal current taxes ........................ 9 .6 .3 - 8 .6 1.3 Less: Contributions for governm ent social Insurance .6 6 8 .8 1.9 .7 .3 2 .0 .5 .4 .8 .5 0 .5 .4 .2 .6 3.5 .9 .9 1.6 3.4 .2 .2 .5 .3 .3 .4 .4 .4 -4 .0 .3 - 2 .6 .5 3.7 .7 4.0 .6 .6 - 1 .0 .1 .3 - 1 .8 - .3 .5 .4 .4 6 1 .6 .6 .4 .8 1 .8 2 .0 0 1 .0 .6 Equals: Disposable personal income .............. Addenda: Personal consumption expenditures ................... Durable g o o d s ........................................... Nondurable g o o d s ................................... S e rv ic e s ..................................................... .7 3 1.3 .3 Based on chained (2000) dollar measures Real disposable personal In c o m e ............... 2.5 .7 - .1 .5 -.2 .2 0 - .1 p Pr e lim in a r y r Re v is e d . Re v is io n s in clu d e ch a n g e s t o s e r ie s a f f e ct e d b y t h e in t ro d u ct io n o f r e v ise d w a g e a n d s a l a r y e st im a t e s f o r t h e f ou r t h q u a r t e r o f 2 0 0 5 . T a b le 6 — P e rs o n a l In c o m e an d Its D is p o s itio n , P e rc e n t C h an g e fro m P re c e d in g P e rio d (Y e a rs an d Q u a rters ) Seasonally adjusted at annual rates 2004 2005 <■ 2004 2005 IV I II 2006 III IV ' lr Based on current-dollar measures P ersonal Incom e ..................................... Compensation of employees, received .... Wage and salary disbursements ....... Supplements to wages and salaries ........ Proprietors’ income with Inventory valuation and capital consumption adjustments ......................................... Rental Income of persons with capital consumption adjustment .................... Personal income receipts on a s s e ts ........ Personal interest Income .................. Personal dividend in c o m e ..................... Personal current transfer re c e ip ts ................ 5.9 5.4 12.7 5.8 5.4 7.3 2.0 6.4 4.5 2.6 7.6 6.0 6.3 4.9 2 .0 6 .6 6.5 7.9 1 .6 9.8 1 2 .2 3.4 3.0 4.8 6 .8 6 .0 1 0 .6 1 0 .8 8.1 3.7 5 9 9.8 9.8 1.9 4.3 -1 .3 16.5 5.5 -4 5 .7 4.4 4.4 4.3 5.4 23.6 37.9 16.0 6 .2 134.9 12.7 12.3 -3 .4 3.9 10.4 2 .2 8.3 6.7 11.4 13.5 1 2 .6 6 .8 8.4 -3 8 6 9.4 9.3 9.5 5.7 - 1.8 6 .2 7.8 -2 9 .5 - 2 1 .0 3.6 -5 0 .2 11.4 5.9 5.8 8 .8 8.5 1 .8 4.9 .9 1 1 .2 Less: Personal cu rre n t taxes ................. 4.9 15.1 14.3 31.3 12.4 4.8 4.2 20.6 E quals: D isposable personal inc o m e ............ 6.1 4.2 12.5 -1.3 3.5 2.3 8.1 4.1 A ddenda: Personal consumption expenditures .............. Durable g o o d s ....................................... Nondurable g o o d s ............................. Services ................................................. 6.5 4.0 7.6 5.8 3.5 6 .8 7.9 6.1 6.3 6.1 10.3 6.7 5.9 7.3 9.5 5.3 6.1 8 .2 6.5 3.9 8.3 3.8 -1 7 .3 5.9 7.4 7.3 19.6 6.9 5.3 5.1 2 .1 Less: Contributions for governm ent social Insurance . 1.2 6 .6 11.7 6.5 4.3 -4 5 .2 10.1 Based on chained (2000) dollar measures Real disposable personal In c o m e .................... r Re v ise d . Re v is io n s in clu d e ch a n g e s t o s e r i e s a f f e c t e d b y t h e in t r o d u ct io n o f r e v ise d w a q e a n d s a l a r y e st im a t e s f o r t h e f ou r t h q u a r t e r o f 2 0 0 5. 3.4 1.3 9.1 - 3 .4 .2 -1 .4 T a b le 7.— R eal P e rs o n a l C o n s u m p tio n E x p e n d itu re s b y M a jo r T y p e o f P ro d u c t (M o n th s ) w 2005 Sep. Oct. 2006 Nov. Jan.<- Dec. F e b .' M a r.r Apr .p Billions of chained (2000) dollars, seasonally adjusted at annual rates Personal consumption expenditures . Durable goods ................................ Nondurable goods ........................... Services ............................................... 7,856.9 7,859.1 1 103 6 2^296J 4 464 5 1 074 9 1 1 1 ft A 2 ,m 2,338.8 i 4,468.7 7,930.2 7,986.8 8,011.0 A 48*3 fi 8,029.2 8,039.9 8.049.9 i,lb 4 .4 1,168.7 2,361.6 4,527.1 1.171.9 2,365.7 4,530.2 4,51 4.» Change from preceding period In billions of chained (2000) dollars, seasonally adjusted at annual rates Personal consumption expenditures ..... Durable goods ................................. Nondurable goods ........................ Services .................................................. -42.3 2.2 71.1 -4 6 .2 -17 .8 12.3 -2 8 .7 41 R 2 0 .0 22 1 1 4.2 56.6 24.2 18.2 10.7 0.0 3.2 4.1 3.1 Percent change from preceding period in chained (2000) dollars, seasonally adjusted at monthly rates Personal consumption expenditures ..... Durable goods .................................. Nondurable goods ............................. Services ............................................ -.5 -4 .0 -.8 o .9 - 2 .6 .9 3Q 10 3 .3 .1 .7 .3 .2 .3 .2 .1 p Pr e lim in ar y r R e v ise d T a b le 8.— R e al P e rs o n a l C o n s u m p tio n E x p e n d itu re s by M ajo r T y p e o f P ro d u c t (Y e a rs an d Q u a rters ) Seasonally adjusted at annual rates 2004 2005 2004 2005 IV I II 2006 III IV \r Billions of chained (2000) doll ars Personal consumption expenditures Durable g o o d s ............................... . Nondurable goods ......................... . Services .......................................... 7,588.6 7,856.9 7,698.8 7,764.9 1,089.9 2,200.4 4,310.9 1,138.4 2,297.9 4,436.4 7,829.5 7,907.9 1,115.1 2,236.5 4,362.1 7,925.4 1,122.3 2,265.6 4,392.0 8,026.7 1,143.9 2,285.9 4,417.6 1,169.7 2,305.8 4,453.5 1,117.7 2,334.2 4,482.6 1,171.1 2,367.0 4,507.6 Change from preceding period in billions o f chained (2000) dollars Personal consumption expenditures Durable goods ............................... . Nondurable goods .......................... Services .......................................... 282.0 268.3 81.3 61.4 98.6 127.0 66.1 48.5 97.5 125.5 64.6 78.4 17.5 14.7 29.6 38.1 7.2 29.1 29.9 101.3 2 1 .6 25.8 19.9 35.9 -52 .0 28.4 29.1 53.4 32.8 25.0 20.3 25.6 Percent change from preceding period in chained (2000) dollars Personal consumption expenditures Durable goods ............................... . Nondurable goods ......................... . Services ......................................... r Re v ise d 3.9 3.5 4.3 3.5 4.5 4.4 2.9 3.4 4.1 5.5 5.5 3.6 .9 5.2 6 .0 2 .6 7.9 3.6 2.3 9.3 3.5 3.3 -16 .6 5.0 20.5 5.7 2 .6 2 .2 4.7 3.0 5.3 2 .8 T a b le 9 .— P ric e In d e x e s fo r P e r s o n a l C o n s u m p tio n E x p e n d itu r e s : L e v e l a n d P e r c e n t C h a n g e F ro m P re c e d in g P e rio d (M o n th s ) 2005 Sep. Oct. 2006 Nov. Feb . r J a n .'- Dec. M a r.r A pr.p Chain-type price indexes (2000=100), seasonally adjusted Personal consumption expenditures (PCE) ....... Durable goods .......................................... Nondurable goods .......................................... Services .......................................................... 112.707 112.964 112.477 112.470 112.997 113.068 113.493 114.037 89.795 115.138 116.929 89.804 114.769 117.568 89.637 112.574 117.892 89.537 112.310 118.042 89.609 113.384 118.396 89.496 113.184 118.658 89.362 113.996 119.023 89.381 115.279 119.315 109.658 111.834 107.946 109.936 112.034 108.156 1 1 0 .1 0 1 110.249 111.394 108.447 110.409 111.933 108.549 110.571 111.954 108.667 110.942 112.375 109.019 111.219 112.923 109.249 Addenda: PCE excluding food and e n e rg y ............................. Market-based P C E 1 ...................................... Market-based PCE excluding food and e n e rg y 1 111.430 108.304 Percent change from preceding period in price indexes, seasonally adjusted at m onthly rates PCE ...................................................................... .9 Durable goods ....................................... Nondurable goods ...................................... Services ..................................................... .2 -.4 0 .5 0 -.2 - .1 .1 - .1 2.3 .4 - .3 .5 -1 .9 .3 -.2 .1 1 .0 -.2 .2 .7 .3 1.1 .2 1 .0 .1 .3 .2 .5 .1 0 .1 .1 .1 .1 .3 4 .3 .2 - .5 .1 0 .1 .2 .2 .1 .1 .3 .4 .5 - .1 0 .2 Addenda: PCE excluding food and e n e rg y ................. Market-based P C E 1 ........................................... Market-based PCE excluding food and energy i 5 .2 p Pr e lim in ar y r Re v ise d 1. T h is in d e x is a su p p le m e n t a l m e a su r e t h at is b a se d o n h o u s e h o ld e x p e n d it u r e s f o r w h ich t h e r e a r e o b se r v a b le p r ice m e a su r e s. It e x clu d e s m o st im p licit p r ice s ( f o r e x a m p le , t h e s e r v ic e s f u r n ish e d w it h o u t p a y m e n t b y f in a n cia l in t e rm ed ia ries) a n d t h e e x p e n se s o f n o n p r of it in st it u t ion s. T a b le 10.— R eal D is p o s a b le P e rso n al In c o m e a n d R e al P e rs o n a l C o n s u m p tio n E x p e n d itu re s : P e rc e n t C h a n g e F ro m M o n th O n e Y e a r Ago 2005 N o v .r D e c .'' J a n .r CD ÇX -1 O c t.r Sep. 2006 M a r.r A pr.p Disposable personal in c o m e.................... 1.6 1.0 1.3 -2.1 1.5 1.5 1.5 1.7 Personal consumption expenditures............ 2.9 .7 2.5 3.2 3.2 3.5 3.3 -2 .3 3.6 .9 2.1 6.9 4.8 4.7 3.5 4.0 3.1 1.4 4.1 2 .8 2 .8 4.8 2.7 3.3 2.7 4.7 2.3 2 .8 2 .8 3.0 Durable goods ...................................... Nondurable goods ....................................... Services .............................................. 3.3 3.0 p Pr elim in a ry r Re v ise d . Re v isi o n s in clu d e ch a n g e s t o s e r ie s a f f e ct ed b y t h e in t r o d u ct io n o f r e v i s e d w a g e a n d s a l a r y e st im a t e s f o r t h e f ou r th q u a r t e r o f 2 0 0 5. T a b le 11.— P rice In d e x e s fo r P e rs o n a l C o n s u m p tio n E x p en d itu re s: P e rc e n t C h a n g e F ro m M o n th O n e Y e a r A g o 2005 Sep. Personal consumption expenditures (PCE) Durable goods ........................................... Nondurable goods ....................... Services ............................................. Oct. 2006 Nov. Dec. J a n .r F eb.r M ar.r 3.8 3.5 2.8 2.8 3.1 - .5 2.9 2.9 3.2 - .7 5.2 3.5 - .9 3.1 3.4 - 1.1 3.3 3.3 - 1 .2 4.3 3.4 - 1.2 3.7 3.3 -1 .3 3.4 3.4 2 .0 2 .0 1 .8 3.5 1.7 1.9 2.7 2 .0 3.8 1.7 2.7 1.7 3.1 1.5 1.8 2 .8 2 .0 2 .8 1 .6 6 .8 A pr.? 2.9 -1.2 3.6 3.4 Addenda: PCE excludinq food and e n e ra v ............... Market-based P C E 1 ......................... Market-based PCE excluding food and e n e ra v 1 p Pr e lim in ar y r Re v ise d 1. T h is in d e x is a su p p le m e n t a l m e a s u r e t h at is b a se d o n h o u s e h o ld e x p e n d it u r e s f o r w h ich t h e r e a r e o b se r v a b le p r ice m e asu r e s. It e x cl u d e s m ost im p licit p r i ce s ( f o r e x a m p le , t h e s e r v ic e s f u r n ish e d w it h o u t p a y m en t b y f in a n cia l in t er m e d iar ies) a n d t h e e x p e n se s o f n o n p r of it in st it u t io n s. 1 .6 1.5 2 .1 28 1.8