The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, OCTOBER 1, 2010 BEA 10-48 James Rankin: Kyle Brown: (202) 606-5301 (202) 606-5302 (Personal Income) (Personal Outlays) piniwd@bea.gov pce@bea.gov PERSONAL INCOME AND OUTLAYS: AUGUST 2010 Personal income increased $59.3 billion, or 0.5 percent, and disposable personal income (DPI) increased $52.0 billion, or 0.5 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $41.3 billion, or 0.4 percent. In July, personal income increased $22.0 billion, or 0.2 percent, DPI increased $5.7 billion, or less than 0.1 percent, and PCE increased $41.4 billion, or 0.4 percent, based on revised estimates. Real disposable income increased 0.2 percent in August, in contrast to a decrease of 0.2 percent in July. Real PCE increased 0.2 percent, the same increase as in July. 2010 Apr. May June July (Percent change from preceding month) Personal income, current dollars Disposable personal income: Current dollars Chained (2005) dollars Personal consumption expenditures: Current dollars Chained (2005) dollars Aug. 0.4 0.4 0.0 0.2 0.5 0.5 0.5 0.4 0.4 0.0 0.2 0.0 -0.2 0.5 0.2 0.0 0.0 0.2 0.3 0.0 0.1 0.4 0.2 0.4 0.2 ________________________ NOTE. -- Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2005) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- Wages and salaries Private wage and salary disbursements increased $26.1 billion in August, compared with an increase of $25.7 billion in July. Goods-producing industries' payrolls increased $6.7 billion, compared with an increase of $6.2 billion; manufacturing payrolls increased $2.9 billion, compared with an increase of $4.8 billion. Services-producing industries' payrolls increased $19.4 billion, compared with an increase of $19.5 billion. Government wage and salary disbursements decreased $5.2 billion in August, in contrast to an increase of $0.8 billion in July. Increased furloughs of state and local workers reduced state and local payrolls by $3.9 billion at an annual rate in August, after a decrease in furloughs boosted payrolls by $2.0 billion in July. Temporary Census workers boosted federal civilian payrolls by $0.9 billion at an annual rate in August, after boosting payrolls by $2.5 billion in July. -more- -3- Other personal income Supplements to wages and salaries increased $4.1 billion in August, compared with an increase of $3.9 billion in July. Proprietors' income increased $10.1 billion in August, compared with an increase of $2.6 billion in July. Farm proprietors' income increased $5.2 billion, the same increase as in July. Nonfarm proprietors' income increased $4.8 billion in August, in contrast to a decrease of $2.6 billion in July. Rental income of persons increased $2.5 billion in August, compared with an increase of $2.2 billion in July. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $11.0 billion, compared with a decrease of $10.3 billion. Personal current transfer receipts increased $35.8 billion in August, compared with an increase of $0.5 billion in July. The August change reflected the effects of unemployment compensation legislation, which boosted special unemployment insurance benefits by $20.6 billion at an annual rate in August, after reducing benefits by $17.1 billion in July. Contributions for government social insurance -- a subtraction in calculating personal income -increased $3.1 billion in August, compared with an increase of $3.4 billion in July. Personal current taxes and disposable personal income Personal current taxes increased $7.2 billion in August, compared with an increase of $16.3 billion in July. Disposable personal income (DPI) -- personal income less personal current taxes -increased $52.0 billion, or 0.5 percent, in August, compared with an increase of 5.7 billion, or less than 0.1 percent, in July. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $40.1 billion in August, the same increase as in July. PCE increased $41.3 billion in August, compared with an increase of $41.4 billion in July. Personal saving -- DPI less personal outlays -- was $661.9 billion in August, compared with $650.0 billion in July. Personal saving as a percentage of disposable personal income was 5.8 percent in August, compared with 5.7 percent in July. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp -more- -4- Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.2 percent in August, in contrast to a decrease of 0.2 percent in July. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in August, the same increase as in July. Purchases of durable goods decreased 0.2 percent in August, in contrast to an increase of 1.3 percent in July. Purchases of nondurable goods increased 0.8 percent, in contrast to a decrease of 0.3 percent. Purchases of services increased less than 0.1 percent, compared with an increase of 0.2 percent. PCE price index -- The price index for PCE increased 0.2 percent in August, the same increase as in July. The PCE price index, excluding food and energy, increased 0.1 percent in August, the same increase as in July. Revisions Estimates have been revised for April through July. Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for June and July -revised and as published in last month's release -- are shown below. Change from preceding month June Previous Revised (Billions of dollars) July Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) Personal Income: Current dollars -2.7 1.5 0.0 0.0 30.0 22.0 0.2 0.2 Disposable personal income: Current dollars Chained (2005) dollars -0.2 14.3 4.0 16.6 0.0 0.1 0.0 0.2 17.6 -8.2 5.7 -17.8 0.2 -0.1 0.0 -0.2 Personal consumption expenditures: Current dollars Chained (2005) dollars -4.0 9.6 -3.3 8.8 0.0 0.1 0.0 0.1 44.1 17.9 41.4 16.5 0.4 0.2 0.4 0.2 -more- -5- BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Next release --November 1, 2010, at 8:30 A.M. EDT for Personal Income and Outlays for September. -more- Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates 2010 January Personal income................................................................................... Compensation of employees, received .......................................... Wage and salary disbursements .................................................. Private industries.......................................................................... Goods-producing industries ...................................................... Manufacturing ........................................................................ Services-producing industries................................................... Trade, transportation, and utilities.......................................... Other services-producing industries ...................................... Government.................................................................................. Supplements to wages and salaries............................................ Employer contributions for employee pension and insurance funds ......................................................................................... Employer contributions for government social insurance ............. Proprietors’ income with inventory valuation and capital consumption adjustments............................................................ Farm ................................................................................................ Nonfarm........................................................................................... Rental income of persons with capital consumption adjustment Personal income receipts on assets ............................................... Personal interest income ................................................................. Personal dividend income................................................................ Personal current transfer receipts .................................................. Government social benefits to persons ........................................... Old-age, survivors, disability, and health insurance benefits ........ Government unemployment insurance benefits ........................... Other ............................................................................................ Other current transfer receipts, from business (net) ........................ Less: Contributions for government social insurance, domestic Less: Personal current taxes .............................................................. Equals: Disposable personal income................................................. Less: Personal outlays ........................................................................ Personal consumption expenditures ................................................... Goods .............................................................................................. Durable goods .............................................................................. Nondurable goods ........................................................................ Services........................................................................................... Personal interest payments 1 .............................................................. Personal current transfer payments .................................................... To government ................................................................................. To the rest of the world (net) ............................................................ Equals: Personal saving ...................................................................... Personal saving as a percentage of disposable personal income Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 ................................................................ Disposable personal income: Total, billions of chained (2005) dollars 2 ......................................... Per capita: Current dollars.............................................................................. Chained (2005) dollars ................................................................. Population (midperiod, thousands) 3................................................... February March April r May r June r July r August p 12,324.3 7,855.0 6,291.3 5,107.6 1,037.4 655.6 4,070.1 987.9 3,082.2 1,183.7 1,563.7 12,337.2 7,851.0 6,284.8 5,099.7 1,028.8 651.0 4,070.8 986.4 3,084.4 1,185.2 1,566.1 12,389.4 7,868.3 6,298.1 5,110.5 1,030.3 651.3 4,080.2 989.6 3,090.6 1,187.6 1,570.2 12,443.6 7,899.1 6,325.0 5,134.9 1,035.4 654.8 4,099.5 995.8 3,103.6 1,190.1 1,574.1 12,488.2 7,934.7 6,356.0 5,160.1 1,050.0 666.8 4,110.1 998.6 3,111.5 1,195.9 1,578.7 12,489.7 7,927.2 6,346.6 5,153.2 1,039.3 658.4 4,113.9 996.0 3,117.9 1,193.4 1,580.6 12,511.7 7,957.6 6,373.1 5,178.9 1,045.5 663.2 4,133.4 1,002.0 3,131.4 1,194.2 1,584.5 12,571.0 7,982.6 6,394.0 5,205.0 1,052.2 666.1 4,152.8 1,005.7 3,147.2 1,189.0 1,588.6 1,093.1 470.6 1,095.8 470.3 1,098.5 471.7 1,100.7 473.3 1,103.1 475.6 1,105.5 475.1 1,107.8 476.7 1,110.2 478.3 1,027.0 37.4 989.7 287.4 1,913.3 1,212.6 700.7 2,228.7 2,192.1 1,187.3 143.3 861.6 36.6 987.3 1,133.1 11,191.2 10,554.0 10,182.8 3,346.8 1,041.0 2,305.8 6,836.1 202.5 168.7 97.9 70.7 637.2 5.7 1,028.0 36.8 991.2 292.5 1,916.1 1,208.7 707.4 2,236.3 2,199.7 1,190.7 138.2 870.8 36.6 986.7 1,133.6 11,203.6 10,602.9 10,229.9 3,375.3 1,052.2 2,323.1 6,854.6 203.8 169.2 98.5 70.7 600.6 5.4 1,037.2 36.2 1,001.0 298.0 1,903.8 1,204.7 699.0 2,271.4 2,234.7 1,195.9 156.8 882.1 36.7 989.3 1,137.4 11,252.1 10,654.6 10,279.7 3,417.9 1,089.0 2,328.9 6,861.8 205.2 169.7 99.0 70.7 597.4 5.3 1,049.2 37.6 1,011.6 298.1 1,911.1 1,205.0 706.0 2,279.0 2,242.3 1,207.9 137.2 897.2 36.7 992.9 1,135.0 11,308.6 10,652.6 10,275.2 3,396.4 1,078.1 2,318.3 6,878.8 205.6 171.7 99.5 72.2 656.0 5.8 1,051.7 38.9 1,012.7 298.8 1,915.0 1,205.3 709.7 2,285.4 2,248.4 1,207.9 137.1 903.4 37.0 997.4 1,139.7 11,348.5 10,670.4 10,292.1 3,374.8 1,074.6 2,300.1 6,917.3 206.0 172.3 100.1 72.2 678.1 6.0 1,048.3 40.3 1,008.0 299.6 1,917.3 1,205.6 711.8 2,293.8 2,256.5 1,208.6 136.1 911.9 37.2 996.5 1,137.2 11,352.5 10,668.1 10,288.8 3,361.2 1,069.5 2,291.7 6,927.6 206.5 172.8 100.6 72.2 684.4 6.0 1,050.9 45.5 1,005.4 301.8 1,907.0 1,193.9 713.1 2,294.3 2,257.2 1,219.5 120.5 917.1 37.0 999.9 1,153.5 11,358.2 10,708.2 10,330.2 3,380.3 1,080.4 2,299.9 6,949.9 204.6 173.4 101.2 72.2 650.0 5.7 1,061.0 50.7 1,010.2 304.3 1,896.0 1,182.3 713.7 2,330.1 2,293.0 1,221.5 146.9 924.6 37.1 1,003.0 1,160.7 11,410.2 10,748.3 10,371.5 3,410.2 1,078.9 2,331.3 6,961.3 202.8 174.0 101.8 72.2 661.9 5.8 9,110.5 9,111.8 9,112.9 9,157.5 9,200.0 9,205.5 9,204.4 9,203.8 10,099.3 10,106.5 10,134.3 10,188.1 10,233.1 10,249.7 10,231.9 10,254.8 36,226 32,691 308,930 36,244 32,695 309,119 36,378 32,764 309,312 36,537 32,917 309,509 36,642 33,040 309,718 36,627 33,069 309,946 36,618 32,987 310,185 36,756 33,034 310,431 p Preliminary r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates 2008 2009 2009 I Personal income.................................................................................... Compensation of employees, received ........................................... Wage and salary disbursements ................................................... Private industries........................................................................... Goods-producing industries ....................................................... Manufacturing ......................................................................... Services-producing industries.................................................... Trade, transportation, and utilities........................................... Other services-producing industries ....................................... Government................................................................................... Supplements to wages and salaries............................................. Employer contributions for employee pension and insurance funds .......................................................................................... Employer contributions for government social insurance .............. Proprietors’ income with inventory valuation and capital consumption adjustments............................................................. Farm ................................................................................................. Nonfarm............................................................................................ Rental income of persons with capital consumption adjustment. Personal income receipts on assets ................................................ Personal interest income .................................................................. Personal dividend income................................................................. Personal current transfer receipts ................................................... Government social benefits to persons ............................................ Old-age, survivors, disability, and health insurance benefits ......... Government unemployment insurance benefits ............................ Other ............................................................................................. Other current transfer receipts, from business (net) ......................... Less: Contributions for government social insurance, domestic Less: Personal current taxes ............................................................... Equals: Disposable personal income.................................................. Less: Personal outlays ......................................................................... Personal consumption expenditures .................................................... Goods ............................................................................................... Durable goods ............................................................................... Nondurable goods ......................................................................... Services............................................................................................ Personal interest payments 1 ............................................................... Personal current transfer payments ..................................................... To government .................................................................................. To the rest of the world (net) ............................................................. Equals: Personal saving ....................................................................... Personal saving as a percentage of disposable personal income Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 ................................................................. Disposable personal income: Total, billions of chained (2005) dollars 2 .......................................... Per capita: Current dollars............................................................................... Chained (2005) dollars .................................................................. Population (midperiod, thousands) 3.................................................... II 2010 III IV I II r 12,391.1 8,065.8 6,559.0 5,415.1 1,207.6 741.2 4,207.4 1,050.9 3,156.6 1,144.0 1,506.8 12,174.9 7,806.7 6,274.1 5,100.5 1,064.0 661.5 4,036.6 990.5 3,046.1 1,173.6 1,532.6 12,093.2 7,777.7 6,260.0 5,092.5 1,100.2 678.6 3,992.3 997.0 2,995.3 1,167.6 1,517.7 12,203.4 7,819.0 6,287.7 5,111.4 1,063.0 659.1 4,048.5 989.9 3,058.5 1,176.2 1,531.4 12,164.0 7,798.7 6,263.9 5,088.3 1,046.7 649.8 4,041.6 986.9 3,054.7 1,175.6 1,534.8 12,239.0 7,831.4 6,284.9 5,110.0 1,046.1 658.3 4,064.0 988.2 3,075.7 1,174.9 1,546.5 12,350.3 7,858.1 6,291.4 5,105.9 1,032.2 652.6 4,073.7 988.0 3,085.8 1,185.5 1,566.7 12,473.8 7,920.3 6,342.5 5,149.4 1,041.6 660.0 4,107.8 996.8 3,111.0 1,193.1 1,577.8 1,036.6 470.1 1,072.0 460.6 1,060.2 457.4 1,069.9 461.5 1,074.0 460.8 1,084.0 462.5 1,095.8 470.9 1,103.1 474.7 1,102.0 50.8 1,051.2 222.0 2,109.3 1,314.7 794.6 1,879.2 1,842.6 1,068.3 50.7 723.6 36.7 987.2 1,438.2 10,952.9 10,505.0 10,104.5 3,379.5 1,083.5 2,296.0 6,725.0 246.2 154.3 89.7 64.6 447.9 4.1 1,011.9 30.5 981.5 274.0 1,919.7 1,222.3 697.4 2,132.8 2,096.8 1,164.5 128.6 803.7 36.0 970.3 1,140.0 11,034.9 10,379.6 10,001.3 3,230.7 1,026.5 2,204.2 6,770.6 216.8 161.4 95.0 66.5 655.3 5.9 1,018.7 29.6 989.0 264.7 1,972.7 1,240.5 732.2 2,023.7 1,987.2 1,138.6 98.2 750.4 36.5 964.2 1,213.4 10,879.8 10,291.6 9,913.0 3,158.4 1,012.2 2,146.2 6,754.6 220.1 158.5 93.1 65.4 588.2 5.4 1,000.5 28.0 972.5 269.4 1,925.9 1,229.5 696.4 2,160.2 2,124.1 1,158.2 127.7 838.1 36.1 971.6 1,112.5 11,090.9 10,297.4 9,920.1 3,175.4 1,004.7 2,170.7 6,744.7 218.4 158.9 94.3 64.6 793.5 7.2 1,006.4 28.0 978.4 279.1 1,891.1 1,213.3 677.8 2,159.3 2,123.4 1,172.6 145.0 805.9 35.8 970.6 1,117.0 11,047.0 10,423.6 10,040.7 3,276.1 1,045.2 2,231.0 6,764.6 220.9 161.9 95.6 66.3 623.4 5.6 1,022.1 36.2 985.9 282.8 1,889.2 1,205.8 683.4 2,188.2 2,152.5 1,188.8 143.4 820.2 35.8 974.8 1,117.2 11,121.7 10,505.7 10,131.5 3,312.9 1,043.9 2,269.0 6,818.6 207.8 166.4 97.0 69.5 616.0 5.5 1,030.7 36.8 994.0 292.7 1,911.1 1,208.7 702.4 2,245.5 2,208.9 1,191.3 146.1 871.5 36.6 987.8 1,134.7 11,215.6 10,603.9 10,230.8 3,380.0 1,060.7 2,319.3 6,850.9 203.8 169.2 98.5 70.7 611.8 5.5 1,049.7 38.9 1,010.8 298.8 1,914.4 1,205.3 709.2 2,286.1 2,249.1 1,208.1 136.8 904.2 37.0 995.6 1,137.3 11,336.5 10,663.7 10,285.4 3,377.5 1,074.1 2,303.4 6,907.9 206.0 172.3 100.1 72.2 672.8 5.9 9,638.5 9,191.1 9,298.7 9,230.2 9,128.7 9,109.7 9,111.7 9,187.6 10,042.9 10,099.8 10,046.9 10,193.0 10,079.7 10,080.4 10,113.3 10,223.6 35,931 32,946 304,831 35,888 32,847 307,483 35,497 32,780 306,496 36,115 33,191 307,101 35,888 32,746 307,815 36,049 32,673 308,521 36,282 32,717 309,120 36,602 33,009 309,724 r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates 2010 January Personal income................................................................................... Compensation of employees, received .......................................... Wage and salary disbursements .................................................. Private industries.......................................................................... Goods-producing industries ...................................................... Manufacturing ........................................................................ Services-producing industries................................................... Trade, transportation, and utilities.......................................... Other services-producing industries ...................................... Government.................................................................................. Supplements to wages and salaries............................................ Employer contributions for employee pension and insurance funds ......................................................................................... Employer contributions for government social insurance ............. Proprietors’ income with inventory valuation and capital consumption adjustments............................................................ Farm ................................................................................................ Nonfarm........................................................................................... Rental income of persons with capital consumption adjustment Personal income receipts on assets ............................................... Personal interest income ................................................................. Personal dividend income................................................................ Personal current transfer receipts .................................................. Government social benefits to persons ........................................... Old-age, survivors, disability, and health insurance benefits ........ Government unemployment insurance benefits ........................... Other ............................................................................................ Other current transfer receipts, from business (net) ........................ Less: Contributions for government social insurance, domestic Less: Personal current taxes .............................................................. Equals: Disposable personal income................................................. Less: Personal outlays ........................................................................ Personal consumption expenditures ................................................... Goods .............................................................................................. Durable goods .............................................................................. Nondurable goods ........................................................................ Services........................................................................................... Personal interest payments 1 .............................................................. Personal current transfer payments .................................................... To government ................................................................................. To the rest of the world (net) ............................................................ Equals: Personal saving ...................................................................... Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 .................................................................. Disposable personal income, billions of chained (2005) dollars 2 ....... February March April r May r June r July r August p 23.6 12.6 –0.2 –9.1 –9.5 –5.0 0.3 0.3 0.0 8.9 12.8 12.9 –4.0 –6.5 –7.9 –8.6 –4.6 0.7 –1.5 2.2 1.5 2.4 52.2 17.3 13.3 10.8 1.5 0.3 9.4 3.2 6.2 2.4 4.1 54.2 30.8 26.9 24.4 5.1 3.5 19.3 6.2 13.0 2.5 3.9 44.6 35.6 31.0 25.2 14.6 12.0 10.6 2.8 7.9 5.8 4.6 1.5 –7.5 –9.4 –6.9 –10.7 –8.4 3.8 –2.6 6.4 –2.5 1.9 22.0 30.4 26.5 25.7 6.2 4.8 19.5 6.0 13.5 0.8 3.9 59.3 25.0 20.9 26.1 6.7 2.9 19.4 3.7 15.8 –5.2 4.1 5.0 7.8 2.7 –0.3 2.7 1.4 2.2 1.6 2.4 2.3 2.4 –0.5 2.3 1.6 2.4 1.6 1.7 –0.6 2.4 5.1 –2.6 –4.0 1.4 18.2 17.4 –11.1 –6.8 35.4 0.8 11.5 16.3 7.3 17.6 14.4 19.8 –10.8 30.6 –5.3 1.4 1.8 0.5 1.2 –10.3 1.0 –0.6 1.5 5.1 2.8 –3.9 6.7 7.6 7.6 3.4 –5.1 9.2 0.0 –0.6 0.5 12.4 48.9 47.1 28.5 11.2 17.3 18.5 1.3 0.5 0.6 0.0 –36.6 9.2 –0.6 9.8 5.5 –12.3 –4.0 –8.4 35.1 35.0 5.2 18.6 11.3 0.1 2.6 3.8 48.5 51.7 49.8 42.6 36.8 5.8 7.2 1.4 0.5 0.5 0.0 –3.2 12.0 1.4 10.6 0.1 7.3 0.3 7.0 7.6 7.6 12.0 –19.6 15.1 0.0 3.6 –2.4 56.5 –2.0 –4.5 –21.5 –10.9 –10.6 17.0 0.4 2.0 0.5 1.5 58.6 2.5 1.3 1.1 0.7 3.9 0.3 3.7 6.4 6.1 0.0 –0.1 6.2 0.3 4.5 4.7 39.9 17.8 16.9 –21.6 –3.5 –18.2 38.5 0.4 0.6 0.6 0.0 22.1 –3.4 1.4 –4.7 0.8 2.3 0.3 2.1 8.4 8.1 0.7 –1.0 8.5 0.2 –0.9 –2.5 4.0 –2.3 –3.3 –13.6 –5.1 –8.4 10.3 0.5 0.5 0.5 0.0 6.3 2.6 5.2 –2.6 2.2 –10.3 –11.7 1.3 0.5 0.7 10.9 –15.6 5.2 –0.2 3.4 16.3 5.7 40.1 41.4 19.1 10.9 8.2 22.3 –1.9 0.6 0.6 0.0 –34.4 10.1 5.2 4.8 2.5 –11.0 –11.6 0.6 35.8 35.8 2.0 26.4 7.5 0.1 3.1 7.2 52.0 40.1 41.3 29.9 –1.5 31.4 11.4 –1.8 0.6 0.6 0.0 11.9 –18.1 –18.8 1.3 7.2 1.1 27.8 44.6 53.8 42.5 45.0 5.5 16.6 –1.1 –17.8 –0.6 22.9 p Preliminary r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates 2008 2009 2009 I Personal income.................................................................................. Compensation of employees, received ......................................... Wage and salary disbursements ................................................. Private industries......................................................................... Goods-producing industries ..................................................... Manufacturing ....................................................................... Services-producing industries.................................................. Trade, transportation, and utilities......................................... Other services-producing industries ..................................... Government................................................................................. Supplements to wages and salaries........................................... Employer contributions for employee pension and insurance funds ........................................................................................ Employer contributions for government social insurance ............ Proprietors’ income with inventory valuation and capital consumption adjustments........................................................... Farm ............................................................................................... Nonfarm.......................................................................................... Rental income of persons with capital consumption adjustment Personal income receipts on assets .............................................. Personal interest income ................................................................ Personal dividend income............................................................... Personal current transfer receipts ................................................. Government social benefits to persons .......................................... Old-age, survivors, disability, and health insurance benefits ....... Government unemployment insurance benefits .......................... Other ........................................................................................... Other current transfer receipts, from business (net) ....................... Less: Contributions for government social insurance, domestic Less: Personal current taxes ............................................................. Equals: Disposable personal income................................................ Less: Personal outlays ....................................................................... Personal consumption expenditures .................................................. Goods ............................................................................................. Durable goods ............................................................................. Nondurable goods ....................................................................... Services.......................................................................................... Personal interest payments 1 ............................................................. Personal current transfer payments ................................................... To government ................................................................................ To the rest of the world (net) ........................................................... Equals: Personal saving ..................................................................... Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 ................................................................. Disposable personal income, billions of chained (2005) dollars 2 ...... II 2010 III IV II r I 478.8 203.6 137.3 82.4 –5.8 –11.0 88.1 5.7 82.5 55.0 66.4 –216.2 –259.1 –284.9 –314.6 –143.6 –79.7 –170.8 –60.4 –110.5 29.6 25.8 –263.1 –243.0 –237.3 –245.0 –75.8 –41.0 –169.3 –38.0 –131.3 7.9 –5.8 110.2 41.3 27.7 18.9 –37.2 –19.5 56.2 –7.1 63.2 8.6 13.7 –39.4 –20.3 –23.8 –23.1 –16.3 –9.3 –6.9 –3.0 –3.8 –0.6 3.4 75.0 32.7 21.0 21.7 –0.6 8.5 22.4 1.3 21.0 –0.7 11.7 111.3 26.7 6.5 –4.1 –13.9 –5.7 9.7 –0.2 10.1 10.6 20.2 123.5 62.2 51.1 43.5 9.4 7.4 34.1 8.8 25.2 7.6 11.1 56.1 10.2 35.4 –9.5 4.7 –10.6 9.7 4.1 4.1 –0.7 10.0 1.7 11.8 8.4 7.3 3.8 11.6 13.0 –1.4 78.3 52.3 49.6 2.7 160.7 154.7 65.1 18.4 71.2 6.2 27.7 –50.5 529.3 296.1 298.2 21.8 –75.9 97.8 276.4 –14.7 12.6 7.3 5.3 233.2 –90.1 –20.3 –69.7 52.0 –189.6 –92.4 –97.2 253.6 254.2 96.2 77.9 80.1 –0.7 –16.9 –298.2 82.0 –125.4 –103.2 –148.8 –57.0 –91.8 45.6 –29.4 7.1 5.3 1.9 207.4 –54.3 –9.9 –44.5 2.1 –96.4 –55.4 –41.0 109.5 110.1 47.7 26.7 35.7 –0.6 –19.2 –229.6 –33.5 –53.7 –54.2 –35.6 6.6 –42.2 –18.7 –4.9 5.4 1.1 4.3 20.2 –18.2 –1.6 –16.5 4.7 –46.8 –11.0 –35.8 136.5 136.9 19.6 29.5 87.7 –0.4 7.4 –100.9 211.1 5.8 7.1 17.0 –7.5 24.5 –9.9 –1.7 0.4 1.2 –0.8 205.3 5.9 0.0 5.9 9.7 –34.8 –16.2 –18.6 –0.9 –0.7 14.4 17.3 –32.2 –0.3 –1.0 4.5 –43.9 126.2 120.6 100.7 40.5 60.3 19.9 2.5 3.0 1.3 1.7 –170.1 15.7 8.2 7.5 3.7 –1.9 –7.5 5.6 28.9 29.1 16.2 –1.6 14.3 0.0 4.2 0.2 74.7 82.1 90.8 36.8 –1.3 38.0 54.0 –13.1 4.5 1.4 3.2 –7.4 8.6 0.6 8.1 9.9 21.9 2.9 19.0 57.3 56.4 2.5 2.7 51.3 0.8 13.0 17.5 93.9 98.2 99.3 67.1 16.8 50.3 32.3 –4.0 2.8 1.5 1.2 –4.2 19.0 2.1 16.8 6.1 3.3 –3.4 6.8 40.6 40.2 16.8 –9.3 32.7 0.4 7.8 2.6 120.9 59.8 54.6 –2.5 13.4 –15.9 57.0 2.2 3.1 1.6 1.5 61.0 –18.0 168.7 –447.4 56.9 –304.2 10.6 –68.5 146.1 –101.5 –113.3 –19.0 0.7 2.0 32.9 75.9 110.3 r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates 2010 January February April r March May r June r July r August p Based on current-dollar measures Personal income........................................................................... 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 assets ........................................... Personal interest income ......................................................... Personal dividend income........................................................ Personal current transfer receipts ............................................... Less: Contributions for government social insurance, domestic Less: Personal current taxes ...................................................... Equals: Disposable personal income......................................... Addenda: Personal consumption expenditures ........................................... Goods ...................................................................................... Durable goods ...................................................................... Nondurable goods ................................................................ Services................................................................................... 0.2 0.2 0.0 0.8 0.1 –0.1 –0.1 0.2 0.4 0.2 0.2 0.3 0.4 0.4 0.4 0.2 0.4 0.5 0.5 0.3 0.0 –0.1 –0.1 0.1 0.2 0.4 0.4 0.2 0.5 0.3 0.3 0.3 0.2 1.8 –0.1 –0.3 0.2 0.8 1.2 1.5 0.1 0.1 1.8 0.1 –0.3 1.0 0.3 –0.1 0.0 0.1 0.9 1.9 –0.6 –0.3 –1.2 1.6 0.3 0.3 0.4 1.2 0.0 0.4 0.0 1.0 0.3 0.4 –0.2 0.5 0.2 0.3 0.2 0.0 0.5 0.3 0.5 0.4 0.4 –0.3 0.3 0.1 0.0 0.3 0.4 –0.1 –0.2 0.0 0.2 0.7 –0.5 –1.0 0.2 0.0 0.3 1.4 0.0 1.0 0.8 –0.6 –1.0 0.1 1.6 0.3 0.6 0.5 0.1 0.6 –1.0 1.3 –0.1 0.5 0.9 1.1 0.8 0.3 0.5 1.3 3.5 0.2 0.1 0.0 –0.6 –1.0 –0.5 0.2 0.2 –0.6 –0.3 –0.8 0.6 0.0 –0.4 –0.5 –0.4 0.1 0.4 0.6 1.0 0.4 0.3 0.4 0.9 –0.1 1.4 0.2 0.1 0.2 0.0 –0.2 0.0 0.2 Based on chained (2005) dollar measures Real personal income excluding current transfer receipts .......... Real disposable personal income ............................................... –0.2 –0.2 0.0 0.1 0.0 0.3 0.5 0.5 0.5 0.4 p Preliminary r Revised Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates 2008 2009 2009 I II 2010 III IV II r I Based on current-dollar measures Personal income.......................................................................... 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 assets .......................................... Personal interest income ........................................................ Personal dividend income....................................................... Personal current transfer receipts .............................................. Less: Contributions for government social insurance, domestic Less: Personal current taxes ..................................................... Equals: Disposable personal income........................................ Addenda: Personal consumption expenditures .......................................... Goods ..................................................................................... Durable goods ..................................................................... Nondurable goods ............................................................... Services.................................................................................. 4.0 2.6 2.1 4.6 –1.7 –3.2 –4.3 1.7 –8.2 –11.6 –13.8 –1.5 3.7 2.1 1.8 3.7 –1.3 –1.0 –1.5 0.9 2.5 1.7 1.3 3.1 3.7 1.4 0.4 5.3 4.1 3.2 3.3 2.9 1.1 54.5 2.5 3.9 0.3 9.4 2.9 –3.4 5.1 –8.2 23.4 –9.0 –7.0 –12.2 13.5 –1.7 –20.7 0.7 –18.8 3.1 –17.4 –16.0 –19.6 24.9 –7.6 –50.0 –1.2 –6.9 7.3 –9.2 –3.5 –18.2 29.8 3.1 –29.4 8.0 2.4 15.3 –7.0 –5.2 –10.2 –0.2 –0.4 1.6 –1.6 6.4 5.4 –0.4 –2.5 3.3 5.5 1.7 0.1 2.7 3.4 14.7 4.7 1.0 11.6 10.9 5.4 6.4 3.4 7.6 8.7 0.7 –1.1 3.9 7.4 3.2 0.9 4.4 3.0 0.7 –6.6 4.4 4.3 –1.0 –4.4 –5.3 –4.0 0.7 –2.2 –4.4 2.7 –7.5 –1.1 0.3 2.2 –3.0 4.7 –0.6 5.0 13.3 17.1 11.6 1.2 3.7 4.6 –0.5 7.0 3.2 4.0 8.3 6.6 9.2 1.9 2.1 –0.3 5.1 –2.7 3.4 –0.2 0.0 0.0 1.3 0.8 4.4 Based on chained (2005) dollar measures Real personal income excluding current transfer receipts ......... Real disposable personal income .............................................. r Revised –0.2 1.7 –4.6 0.6 –3.2 0.4 –0.7 5.9 –1.1 –4.4 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2010 January February March April r May r June r July r August p Billions of chained (2005) dollars, seasonally adjusted at annual rates Personal consumption expenditures ........................................ Goods ........................................................................................ Durable goods ........................................................................ Nondurable goods .................................................................. Services ..................................................................................... 9,189.3 3,159.9 1,116.5 2,038.7 6,027.4 9,228.2 3,193.0 1,131.0 2,057.7 6,034.6 9,258.6 3,233.3 1,169.2 2,064.0 6,026.7 9,257.2 3,223.7 1,159.1 2,063.4 6,034.4 9,280.5 3,221.8 1,158.2 2,062.3 6,058.9 9,289.3 3,222.3 1,156.2 2,064.4 6,066.9 9,305.8 3,228.3 1,171.1 2,057.7 6,077.5 9,321.2 3,243.2 1,169.2 2,073.2 6,078.8 Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates Personal consumption expenditures ........................................ Goods ........................................................................................ Durable goods ........................................................................ Nondurable goods .................................................................. Services ..................................................................................... –10.0 1.3 –8.7 8.4 –11.0 38.9 33.1 14.5 19.0 7.2 30.4 40.3 38.2 6.3 –7.9 –1.4 –9.6 –10.1 –0.6 7.7 23.3 –1.9 –0.9 –1.1 24.5 8.8 0.5 –2.0 2.1 8.0 16.5 6.0 14.9 –6.7 10.6 15.4 14.9 –1.9 15.5 1.3 Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates Personal consumption expenditures ........................................ Goods ........................................................................................ Durable goods ........................................................................ Nondurable goods .................................................................. Services ..................................................................................... –0.1 0.0 –0.8 0.4 –0.2 0.4 1.0 1.3 0.9 0.1 0.3 1.3 3.4 0.3 –0.1 0.0 –0.3 –0.9 0.0 0.1 0.3 –0.1 –0.1 –0.1 0.4 0.1 0.0 –0.2 0.1 0.1 0.2 0.2 1.3 –0.3 0.2 0.2 0.5 –0.2 0.8 0.0 p Preliminary r Revised Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates 2008 2009 2009 I II 2010 III IV I II r 9,182.9 3,151.8 1,115.1 2,032.3 6,028.7 9,225.4 3,195.4 1,138.9 2,053.5 6,029.6 9,275.7 3,222.6 1,157.8 2,063.4 6,053.4 42.5 43.6 23.8 21.2 0.9 50.3 27.2 18.9 9.9 23.8 1.9 5.7 8.8 4.2 0.1 2.2 3.4 6.8 1.9 1.6 Billions of chained (2005) dollars Personal consumption expenditures ......................................... Goods ......................................................................................... Durable goods ......................................................................... Nondurable goods ................................................................... Services ...................................................................................... 9,265.0 3,180.3 1,136.4 2,041.2 6,082.3 9,153.9 3,117.4 1,094.6 2,017.4 6,032.7 Personal consumption expenditures ......................................... Goods ......................................................................................... Durable goods ......................................................................... Nondurable goods ................................................................... Services ...................................................................................... –24.5 –81.3 –62.2 –23.1 54.0 –111.1 –62.9 –41.8 –23.8 –49.6 9,154.1 3,095.7 1,076.6 2,012.0 6,053.6 9,117.0 3,084.0 1,068.2 2,008.3 6,027.7 9,161.6 3,138.2 1,118.3 2,016.9 6,020.7 Change from preceding period in billions of chained (2005) dollars –12.2 13.4 12.7 1.9 –24.9 –37.1 –11.7 –8.4 –3.7 –25.9 44.6 54.2 50.1 8.6 –7.0 21.3 13.6 –3.2 15.4 8.0 Percent change from preceding period in chained (2005) dollars Personal consumption expenditures ......................................... Goods ......................................................................................... Durable goods ......................................................................... Nondurable goods ................................................................... Services ...................................................................................... r Revised –0.3 –2.5 –5.2 –1.1 0.9 –1.2 –2.0 –3.7 –1.2 –0.8 –0.5 1.8 4.8 0.4 –1.6 –1.6 –1.5 –3.1 –0.7 –1.7 2.0 7.2 20.1 1.7 –0.5 0.9 1.7 –1.1 3.1 0.5 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2010 January February March r April May r June r July r August p Chain-type price indexes (2005=100), seasonally Personal consumption expenditures (PCE)............................... Goods ......................................................................................... Durable goods ......................................................................... Nondurable goods ................................................................... Services ...................................................................................... Addenda: PCE excluding food and energy.................................................. Food 1 ......................................................................................... Energy goods and services 2 ...................................................... Market-based PCE 3 ................................................................... Market-based PCE excluding food and energy 3 ........................ 110.815 105.922 93.224 113.105 113.416 110.858 105.716 93.013 112.903 113.589 111.032 105.714 93.126 112.838 113.856 111.000 105.364 93.001 112.360 113.994 110.902 104.755 92.775 111.537 114.169 110.762 104.318 92.488 111.016 114.186 111.010 104.716 92.244 111.777 114.354 111.270 105.157 92.263 112.456 114.518 109.774 113.262 124.010 110.774 109.552 109.856 113.391 123.286 110.792 109.610 110.030 113.746 123.189 110.906 109.715 110.071 113.989 121.491 110.881 109.776 110.188 113.987 117.572 110.752 109.892 110.255 113.771 114.081 110.655 110.042 110.358 113.821 117.028 110.914 110.135 110.487 113.904 119.747 111.197 110.269 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates Personal consumption expenditures (PCE)............................... Goods ......................................................................................... Durable goods ......................................................................... Nondurable goods ................................................................... Services ...................................................................................... Addenda: PCE excluding food and energy.................................................. Food 1 ......................................................................................... Energy goods and services 2 ...................................................... Market-based PCE 3 ................................................................... Market-based PCE excluding food and energy 3 ........................ 0.3 0.6 –0.3 0.9 0.1 0.0 –0.2 –0.2 –0.2 0.2 0.2 0.0 0.1 –0.1 0.2 0.0 –0.3 –0.1 –0.4 0.1 –0.1 –0.6 –0.2 –0.7 0.2 –0.1 –0.4 –0.3 –0.5 0.0 0.2 0.4 –0.3 0.7 0.1 0.2 0.4 0.0 0.6 0.1 0.1 0.1 3.0 0.2 0.0 0.1 0.1 –0.6 0.0 0.1 0.2 0.3 –0.1 0.1 0.1 0.0 0.2 –1.4 0.0 0.1 0.1 0.0 –3.2 –0.1 0.1 0.1 –0.2 –3.0 –0.1 0.1 0.1 0.0 2.6 0.2 0.1 0.1 0.1 2.3 0.3 0.1 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2010 January Disposable personal income...................................................... Personal consumption expenditures ........................................ Goods ........................................................................................ Durable goods ........................................................................ Nondurable goods .................................................................. Services ..................................................................................... 0.1 0.1 1.8 2.9 1.4 –0.7 February 0.9 0.7 2.8 4.5 2.0 –0.3 March 1.0 1.5 5.1 10.0 2.8 –0.2 April r May r 0.6 1.6 5.0 9.8 2.9 –0.1 June r –0.7 1.8 4.3 8.1 2.5 0.6 July r 1.0 1.9 4.2 7.3 2.9 0.7 August p 1.4 1.9 3.8 6.4 2.6 1.0 1.7 1.2 1.6 –0.6 2.7 1.0 p Preliminary r Revised Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2010 January Personal consumption expenditures (PCE).............................. Goods ........................................................................................ Durable goods ........................................................................ Nondurable goods .................................................................. Services ..................................................................................... Addenda: PCE excluding food and energy................................................. Food 1 ........................................................................................ Energy goods and services 2 ..................................................... Market-based PCE 3 .................................................................. Market-based PCE excluding food and energy 3 ....................... February March April r May r June r July r August p 2.5 4.3 –0.8 6.7 1.7 2.3 3.3 –1.1 5.4 1.8 2.5 3.4 –1.0 5.6 2.0 2.3 2.9 –1.1 4.8 2.0 2.1 2.2 –1.3 3.8 2.0 1.4 0.3 –1.7 1.2 1.9 1.5 0.8 –1.4 1.8 1.9 1.5 0.6 –1.1 1.4 1.9 1.8 –1.4 21.8 2.4 1.6 1.7 –1.0 16.5 2.1 1.4 1.8 –0.5 20.1 2.2 1.3 1.5 0.1 19.7 2.0 1.1 1.5 0.4 15.3 1.8 1.1 1.4 0.2 3.4 1.1 1.1 1.4 0.7 5.5 1.3 1.1 1.4 0.7 3.8 1.2 1.1 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.