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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, SEPTEMBER 27, 2013 BEA 13-47 James Rankin: (202) 606-5301 Harvey Davis: (202) 606-5302 (Personal Income) (Personal Consumption Expenditures) piniwd@bea.gov pce@bea.gov PERSONAL INCOME AND OUTLAYS: AUGUST 2013 Personal income increased $57.2 billion, or 0.4 percent, and disposable personal income (DPI) increased $56.2 billion, or 0.5 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $34.5 billion, or 0.3 percent. In July, personal income increased $21.2 billion, or 0.2 percent, DPI increased $32.7 billion, or 0.3 percent, and PCE increased $18.3 billion, or 0.2 percent, based on revised estimates. Real disposable personal income increased 0.3 percent in August, compared with an increase of 0.2 percent in July. Real PCE increased 0.2 percent, compared with an increase of 0.1 percent. 2013 Apr. May June July (Percent change from preceding month) Personal income, current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars Aug. 0.0 0.3 0.3 0.2 0.4 -0.1 0.2 0.3 0.2 0.3 -0.1 0.3 0.2 0.5 0.3 -0.2 0.0 0.2 0.1 0.6 0.2 0.2 0.1 0.3 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-tomonth percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2009) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- Wages and salaries Private wages and salaries increased $28.5 billion in August, in contrast to a decrease of $10.9 billion in July. Goods-producing industries' payrolls increased $7.9 billion, in contrast to a decrease of $4.6 billion; manufacturing payrolls increased $6.4 billion, in contrast to a decrease of $5.1 billion. Services-producing industries' payrolls increased $20.5 billion, in contrast to a decrease of $6.3 billion. Government wages and salaries increased $2.0 billion in August, in contrast to a decrease of $7.6 billion in July. Government wages were reduced by $7.3 billion in August and $7.7 billion in July due to furloughs that impacted several federal government agencies. Other personal income Supplements to wages and salaries increased $3.8 billion in August; supplements were unchanged in July. Proprietors' income increased $13.1 billion in August, compared with an increase of $10.2 billion in July. Farm proprietors' income increased $7.9 billion, compared with an increase of $8.0 billion. Nonfarm proprietors' income increased $5.0 billion, compared with an increase of $2.3 billion. Rental income of persons increased $7.6 billion in August, compared with an increase of $7.8 billion in July. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $4.5 billion, in contrast to an increase of $13.6 billion. Personal current transfer receipts increased $10.8 billion, compared with an increase of $5.8 billion. Contributions for government social insurance -- a subtraction in calculating personal income -increased $3.9 billion in August, in contrast to a decrease of $2.3 billion in July. Personal current taxes and disposable personal income Personal current taxes increased $1.0 billion in August, in contrast to a decrease of $11.5 billion in July. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $56.2 billion, or 0.5 percent, in August, compared with an increase of $32.7 billion, or 0.3 percent in July. -more- -3- Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $38.4 billion in August, compared with an increase of $22.2 billion in July. PCE increased $34.5 billion, compared with an increase of $18.3 billion. Personal saving -- DPI less personal outlays -- was $580.7 billion in August, compared with $562.8 billion in July. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.6 percent in August, compared with 4.5 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 www.bea.gov/national/nipaweb/Nipa-Frb.asp. Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in August, compared with an increase of 0.2 percent in July. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in August, compared with an increase of 0.1 percent in July. Purchases of durable goods increased 0.8 percent, compared with an increase of 0.4 percent. Purchases of nondurable goods decreased 0.2 percent, in contrast to an increase of 0.6 percent. Purchases of services increased 0.2 percent, in contrast to a decrease of 0.1 percent. The price index for PCE increased 0.1 percent in August, the same increase as in July. The PCE price index, excluding food and energy, increased 0.2 percent in August, compared with an increase of 0.1 percent in July. -more- -4- Revisions Estimates have been revised for April through July. Changes in personal income, in currentdollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) 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) Personal Income: Current dollars July Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) 38.2 43.4 0.3 0.3 14.1 21.2 0.1 0.2 27.3 -21.9 32.2 -13.9 0.2 -0.2 0.3 -0.1 21.7 9.6 32.7 19.9 0.2 0.1 0.3 0.2 Personal consumption expenditures: Current dollars 64.0 Chained (2009) dollars 16.1 63.0 18.3 0.6 0.2 0.6 0.2 16.3 5.3 18.3 7.2 0.1 0.0 0.2 0.1 Disposable personal income: Current dollars Chained (2009) dollars 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 – October 31, 2013 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 Line 2013 Jan. 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 6...................................................... Feb. March April r Line May r June r July r Aug. p 13,791.7 13,969.3 14,016.8 14,018.7 14,066.4 14,109.8 14,131.0 14,188.2 1 8,705.8 8,762.6 8,776.4 8,788.1 8,805.4 8,840.2 8,821.7 8,855.9 2 7,001.5 7,053.7 7,065.9 7,074.6 7,089.5 7,120.9 7,102.4 7,132.8 3 5,803.5 5,857.5 5,872.5 5,880.1 5,894.9 5,927.8 5,916.9 5,945.4 4 1,163.7 1,178.4 1,179.4 1,179.7 1,184.3 1,192.1 1,187.5 1,195.4 5 736.1 745.2 745.1 745.4 747.4 752.4 747.3 753.7 6 4,639.8 4,679.2 4,693.1 4,700.4 4,710.6 4,735.7 4,729.4 4,749.9 7 1,107.0 1,116.1 1,122.5 1,120.7 1,124.6 1,128.1 1,126.8 1,133.3 8 3,532.8 3,563.1 3,570.6 3,579.7 3,585.9 3,607.6 3,602.6 3,616.6 9 1,198.0 1,196.1 1,193.3 1,194.4 1,194.6 1,193.1 1,185.5 1,187.5 10 1,704.3 1,708.9 1,710.6 1,713.5 1,715.9 1,719.3 1,719.3 1,723.1 11 1,180.8 523.5 1,182.2 526.7 1,183.4 527.2 1,185.9 527.6 1,187.6 528.2 1,189.2 530.0 1,190.7 528.6 1,192.7 12 530.4 13 1,293.9 1,339.4 1,370.6 1,355.7 1,342.9 1,325.8 1,336.0 1,349.1 14 105.2 137.0 168.9 148.9 129.0 109.0 117.0 124.9 15 1,188.7 1,202.3 1,201.7 1,206.8 1,213.9 1,216.8 1,219.1 1,224.1 16 565.6 574.9 584.2 585.1 587.7 590.2 598.0 605.6 17 1,895.9 1,960.0 1,951.5 1,971.5 1,995.2 2,015.2 2,028.8 2,024.3 18 1,227.4 1,215.8 1,204.1 1,214.9 1,225.6 1,236.3 1,232.7 1,229.2 19 668.5 744.2 747.4 756.6 769.6 779.0 796.1 795.1 20 2,419.4 2,427.8 2,430.9 2,416.1 2,434.9 2,441.8 2,447.6 2,458.4 21 2,375.5 2,383.9 2,386.7 2,371.9 2,390.4 2,397.2 2,402.9 2,413.5 22 785.0 789.0 795.4 785.8 797.3 801.4 799.1 804.0 23 586.8 591.1 590.1 583.4 586.0 589.4 593.1 596.8 24 423.5 423.6 424.0 423.7 427.7 426.9 432.6 437.0 25 75.6 73.8 72.3 70.4 68.5 66.6 64.7 62.4 26 76.1 78.2 76.1 78.0 80.3 81.6 80.7 81.5 27 428.6 428.1 429.0 430.5 430.7 431.3 432.7 431.9 28 43.8 44.0 44.1 44.3 44.4 44.5 44.7 44.9 29 1,088.9 1,095.4 1,096.8 1,097.9 1,099.6 1,103.4 1,101.1 1,105.0 30 1,612.9 1,632.6 1,641.5 1,653.8 1,664.8 1,675.9 1,664.4 1,665.4 31 12,178.7 12,336.7 12,375.2 12,364.9 12,401.7 12,433.9 12,466.6 12,522.8 32 11,734.4 11,812.8 11,837.5 11,806.4 11,822.9 11,881.6 11,903.8 11,942.2 33 11,321.4 11,397.1 11,419.0 11,392.4 11,413.0 11,476.0 11,494.3 11,528.8 34 3,826.8 3,872.2 3,856.4 3,825.0 3,840.2 3,880.3 3,903.3 3,909.5 35 1,243.5 1,246.3 1,244.7 1,250.2 1,254.8 1,267.4 1,267.7 1,274.4 36 2,583.2 2,625.9 2,611.7 2,574.8 2,585.4 2,612.9 2,635.6 2,635.1 37 7,494.7 7,524.9 7,562.6 7,567.3 7,572.9 7,595.7 7,591.0 7,619.3 38 247.8 250.4 253.1 248.7 244.3 239.8 243.4 246.9 39 165.2 165.3 165.4 165.4 165.6 165.8 166.1 166.4 40 89.3 89.4 89.5 89.7 89.9 90.1 90.4 90.7 41 75.9 75.9 75.9 75.7 75.7 75.7 75.7 75.7 42 444.4 523.9 537.7 558.5 578.8 552.2 562.8 580.7 43 3.6 4.2 4.3 4.5 4.7 4.4 4.5 4.6 44 10,662.0 10,778.3 10,830.2 10,875.7 10,894.0 10,886.9 10,891.2 10,919.5 45 11,418.1 11,520.9 11,568.0 11,590.3 11,615.3 11,601.4 11,621.3 11,657.7 46 38,601 36,190 315,507 39,081 36,497 315,668 39,182 36,626 315,838 39,127 36,676 316,019 39,221 36,734 316,202 39,299 36,668 316,395 39,377 36,707 316,599 39,528 47 36,797 48 316,809 49 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. 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 Line 2011 2012 2012 I 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 6 ..................................................... II 2013 III IV I Line II r 13,191.3 13,743.8 13,548.6 13,651.8 13,701.6 14,073.1 13,925.9 14,065.0 1 8,278.5 8,611.6 8,514.3 8,553.8 8,591.0 8,787.4 8,748.3 8,811.2 2 6,638.7 6,926.8 6,842.2 6,873.5 6,904.7 7,086.6 7,040.4 7,095.0 3 5,444.3 5,729.4 5,642.8 5,678.0 5,709.7 5,887.2 5,844.5 5,900.9 4 1,102.1 1,154.0 1,149.2 1,153.2 1,146.7 1,167.0 1,173.8 1,185.4 5 707.1 735.4 733.2 735.7 732.3 740.5 742.1 748.4 6 4,342.2 4,575.4 4,493.6 4,524.8 4,563.0 4,720.3 4,670.7 4,715.5 7 1,046.2 1,093.7 1,086.8 1,083.8 1,090.0 1,114.2 1,115.2 1,124.5 8 3,296.0 3,481.7 3,406.8 3,441.0 3,473.0 3,606.1 3,555.5 3,591.1 9 1,194.4 1,197.3 1,199.4 1,195.5 1,195.1 1,199.3 1,195.8 1,194.1 10 1,639.8 1,684.9 1,672.1 1,680.3 1,686.2 1,700.9 1,707.9 1,716.2 11 1,145.4 494.4 1,170.6 514.3 1,162.2 509.9 1,169.1 511.2 1,174.1 512.2 1,176.8 524.0 1,182.1 525.8 1,187.6 12 528.6 13 1,155.1 1,224.9 1,214.4 1,217.8 1,220.0 1,247.5 1,334.6 1,341.5 14 72.6 75.4 74.6 77.0 75.3 74.5 137.0 129.0 15 1,082.6 1,149.6 1,139.7 1,140.8 1,144.7 1,173.0 1,197.6 1,212.5 16 484.4 541.2 524.8 537.8 546.7 555.4 574.9 587.7 17 1,884.6 1,958.5 1,909.1 1,935.3 1,926.9 2,062.8 1,935.8 1,994.0 18 1,204.1 1,211.6 1,204.9 1,219.4 1,203.7 1,218.4 1,215.8 1,225.6 19 680.5 746.9 704.2 715.9 723.2 844.3 720.0 768.4 20 2,306.9 2,358.3 2,328.5 2,352.2 2,364.4 2,388.0 2,426.0 2,430.9 21 2,260.3 2,316.8 2,285.2 2,310.5 2,323.8 2,347.9 2,382.0 2,386.5 22 713.3 762.2 753.3 760.4 764.8 770.2 789.8 794.9 23 537.0 560.8 547.7 554.2 564.0 577.2 589.3 586.3 24 405.5 417.1 400.8 420.9 421.5 425.1 423.7 426.1 25 107.6 84.2 96.8 85.9 78.7 75.3 73.9 68.5 26 63.3 70.2 67.1 68.9 71.3 73.3 76.8 80.0 27 433.7 422.5 419.5 420.3 423.5 426.8 428.6 430.8 28 46.7 41.4 43.3 41.7 40.6 40.1 44.0 44.4 29 918.2 950.7 942.5 945.1 947.4 967.9 1,093.7 1,100.3 30 1,404.0 1,498.0 1,462.8 1,480.0 1,496.4 1,552.8 1,629.0 1,664.8 31 11,787.4 12,245.8 12,085.7 12,171.9 12,205.1 12,520.4 12,296.9 12,400.1 32 11,119.1 11,558.4 11,428.4 11,507.9 11,601.0 11,696.2 11,794.9 11,837.0 33 10,711.8 11,149.6 11,019.1 11,100.2 11,193.6 11,285.5 11,379.2 11,427.1 34 3,602.7 3,769.7 3,729.3 3,738.4 3,784.9 3,826.1 3,851.8 3,848.5 35 1,129.9 1,202.7 1,184.3 1,189.3 1,206.5 1,230.7 1,244.8 1,257.5 36 2,472.8 2,567.0 2,545.0 2,549.2 2,578.4 2,595.4 2,607.0 2,591.0 37 7,109.1 7,379.9 7,289.7 7,361.8 7,408.7 7,459.4 7,527.4 7,578.6 38 248.0 248.4 248.6 247.0 250.7 247.3 250.4 244.3 39 159.4 160.4 160.7 160.8 156.7 163.4 165.3 165.6 40 85.3 88.5 87.7 88.4 88.8 89.0 89.4 89.9 41 74.1 71.9 73.0 72.4 67.9 74.4 75.9 75.7 42 668.2 687.4 657.3 663.9 604.1 824.1 502.0 563.2 43 5.7 5.6 5.4 5.5 4.9 6.6 4.1 4.5 44 10,457.1 10,740.1 10,638.4 10,685.5 10,676.2 10,959.6 10,756.9 10,885.6 45 11,324.6 11,551.6 11,459.2 11,510.2 11,493.6 11,743.0 11,502.4 11,602.4 46 37,776 36,293 312,036 38,965 36,756 314,278 38,560 36,561 313,425 38,769 36,661 313,960 38,800 36,538 314,564 39,727 37,260 315,162 38,955 36,438 315,671 39,215 47 36,692 48 316,206 49 r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. 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 Line 2013 Jan. 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5 .......... Feb. March April r Line May r June r July r Aug. p –628.5 –204.5 –199.3 –196.6 –33.7 –25.1 –162.8 –16.6 –146.2 –2.7 –5.2 177.6 56.8 52.2 54.0 14.7 9.1 39.4 9.1 30.3 –1.9 4.6 47.5 13.8 12.2 15.0 1.0 –0.1 13.9 6.4 7.5 –2.8 1.7 1.9 11.7 8.7 7.6 0.3 0.3 7.3 –1.8 9.1 1.1 2.9 47.7 17.3 14.9 14.8 4.6 2.0 10.2 3.9 6.2 0.2 2.4 43.4 34.8 31.4 32.9 7.8 5.0 25.1 3.5 21.7 –1.5 3.4 21.2 –18.5 –18.5 –10.9 –4.6 –5.1 –6.3 –1.3 –5.0 –7.6 0.0 57.2 1 34.2 2 30.4 3 28.5 4 7.9 5 6.4 6 20.5 7 6.5 8 14.0 9 2.0 10 3.8 11 3.4 –8.7 1.4 3.2 1.2 0.5 2.5 0.4 1.7 0.6 1.6 1.8 1.5 –1.4 2.0 12 1.8 13 37.0 31.8 5.2 8.7 –373.1 –11.7 –361.4 10.6 6.7 3.9 4.6 –3.1 –2.7 2.2 2.0 3.8 107.3 21.9 –650.5 25.1 20.8 –0.8 –0.5 –0.3 21.6 2.7 1.7 0.1 1.5 –675.5 45.5 31.8 13.6 9.3 64.1 –11.6 75.7 8.4 8.4 4.0 4.3 0.1 –1.8 2.1 –0.5 0.2 6.5 19.7 158.0 78.4 75.7 45.4 2.8 42.7 30.2 2.6 0.1 0.1 0.0 79.5 31.2 31.9 –0.6 9.3 –8.5 –11.7 3.2 3.1 2.8 6.4 –1.0 0.4 –1.5 –2.1 0.9 0.1 1.4 8.9 38.5 24.7 21.9 –15.8 –1.6 –14.2 37.7 2.7 0.1 0.1 0.0 13.8 –14.9 –20.0 5.1 0.9 20.0 10.8 9.2 –14.8 –14.8 –9.6 –6.7 –0.3 –1.9 1.9 1.5 0.2 1.1 12.3 –10.3 –31.1 –26.6 –31.4 5.5 –36.9 4.7 –4.4 0.0 0.2 –0.2 20.8 –12.8 –19.9 7.1 2.6 23.7 10.7 13.0 18.8 18.5 11.5 2.6 4.0 –1.9 2.3 0.2 0.1 1.7 11.0 36.8 16.5 20.6 15.2 4.6 10.6 5.6 –4.4 0.2 0.2 0.0 20.3 –17.1 –20.0 2.9 2.5 20.0 10.7 9.4 6.9 6.8 4.1 3.4 –0.8 –1.9 1.3 0.6 0.1 3.8 11.1 32.2 58.7 63.0 40.1 12.6 27.5 22.8 –4.5 0.2 0.2 0.0 –26.6 10.2 8.0 2.3 7.8 13.6 –3.6 17.1 5.8 5.7 –2.3 3.7 5.7 –1.9 –0.9 1.4 0.2 –2.3 –11.5 32.7 22.2 18.3 23.0 0.3 22.7 –4.7 3.6 0.3 0.3 0.0 10.6 –607.4 –618.4 116.3 102.8 51.9 47.1 45.5 22.3 18.3 25.0 –7.1 –13.9 4.3 19.9 13.1 7.9 5.0 7.6 –4.5 –3.5 –1.0 10.8 10.6 4.9 3.7 4.4 –2.3 0.8 –0.8 0.2 3.9 1.0 56.2 38.4 34.5 6.2 6.7 –0.5 28.3 3.5 0.3 0.3 0.0 17.9 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 28.3 44 36.4 45 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. 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 Line 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5.......... 2011 2012 2012 I II 2013 III IV I Line II r 756.1 311.2 261.2 257.9 48.8 33.0 209.1 47.3 161.8 3.3 50.0 552.5 333.1 288.1 285.1 51.9 28.3 233.2 47.5 185.7 2.9 45.1 245.4 207.4 184.0 175.6 45.7 26.9 129.9 31.0 99.0 8.4 23.4 103.2 39.5 31.3 35.2 4.0 2.5 31.2 –3.0 34.2 –3.9 8.2 49.8 37.2 31.2 31.7 –6.5 –3.4 38.2 6.2 32.0 –0.4 5.9 371.5 196.4 181.9 177.5 20.3 8.2 157.3 24.2 133.1 4.2 14.7 –147.2 –39.1 –46.2 –42.7 6.8 1.6 –49.6 1.0 –50.6 –3.5 7.0 139.1 1 62.9 2 54.6 3 56.4 4 11.6 5 6.3 6 44.8 7 9.3 8 35.6 9 –1.7 10 8.3 11 25.0 25.0 25.2 19.9 7.8 15.6 6.9 1.3 5.0 1.0 2.7 11.8 5.3 1.8 5.5 12 2.8 13 122.4 26.6 95.9 81.6 145.0 9.1 135.9 30.0 26.3 23.1 23.2 8.9 –31.3 5.3 –2.8 3.7 –65.9 212.5 543.7 509.6 509.9 239.9 59.2 180.7 270.0 –2.8 2.5 1.4 1.1 34.0 69.8 2.8 67.0 56.8 73.9 7.5 66.4 51.4 56.5 48.9 23.8 11.6 –23.4 6.9 –11.2 –5.3 32.5 94.0 458.4 439.3 437.8 167.0 72.8 94.2 270.8 0.4 1.0 3.2 –2.2 19.2 26.4 –2.3 28.6 11.3 3.7 5.3 –1.5 20.0 22.4 32.1 3.9 2.5 –3.4 2.7 –15.5 –2.4 23.4 44.4 200.9 143.2 140.2 61.1 25.4 35.7 79.0 4.1 –1.1 0.9 –2.0 57.7 3.4 2.4 1.1 13.0 26.2 14.5 11.7 23.7 25.3 7.1 6.5 20.1 –10.9 1.8 0.8 –1.6 2.6 17.2 86.2 79.5 81.1 9.1 5.0 4.2 72.1 –1.6 0.1 0.7 –0.6 6.6 2.2 –1.7 3.9 8.9 –8.4 –15.7 7.3 12.2 13.3 4.4 9.8 0.6 –7.2 2.4 3.2 –1.1 2.3 16.4 33.2 93.1 93.4 46.5 17.2 29.2 46.9 3.7 –4.1 0.4 –4.5 –59.8 27.5 –0.8 28.3 8.7 135.9 14.7 121.1 23.6 24.1 5.4 13.2 3.6 –3.4 2.0 3.3 –0.5 20.5 56.4 315.3 95.2 91.9 41.2 24.2 17.0 50.7 –3.4 6.7 0.2 6.5 220.0 87.1 62.5 24.6 19.5 –127.0 –2.6 –124.3 38.0 34.1 19.6 12.1 –1.4 –1.4 3.5 1.8 3.9 125.8 76.2 –223.5 98.7 93.7 25.7 14.1 11.6 68.0 3.1 1.9 0.4 1.5 –322.1 6.9 –8.0 14.9 12.8 58.2 9.8 48.4 4.9 4.5 5.1 –3.0 2.4 –5.4 3.2 2.2 0.4 6.6 35.8 103.2 42.1 47.9 –3.3 12.7 –16.0 51.2 –6.1 0.3 0.5 –0.2 61.2 464.1 263.8 283.0 227.0 154.9 126.9 47.1 51.0 –9.3 –16.6 283.4 249.4 –202.7 –240.6 128.7 44 100.0 45 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. 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 Line 2013 Jan. Feb. March April r Line May r June r July r Aug. p Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... 5 Proprietors’ income with inventory valuation and capital consumption adjustments...................................................... 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ......................................... 8 Personal interest income ....................................................... 9 Personal dividend income...................................................... 10 Personal current transfer receipts ............................................. 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes .................................................... 13 Equals: Disposable personal income ...................................... Addenda: 14 Personal consumption expenditures ......................................... 15 Goods .................................................................................... 16 Durable goods .................................................................... 17 Nondurable goods .............................................................. 18 Services................................................................................. –4.4 –2.3 –2.8 –0.3 1.3 0.7 0.7 0.3 0.3 0.2 0.2 0.1 0.0 0.1 0.1 0.2 0.3 0.2 0.2 0.1 0.3 0.4 0.4 0.2 0.2 –0.2 –0.3 0.0 0.4 0.4 0.4 0.2 1 2 3 4 2.9 1.6 –16.4 –0.9 –35.1 0.4 10.9 1.4 –5.1 3.5 1.7 3.4 –0.9 11.3 0.3 0.6 1.2 1.3 2.3 1.6 –0.4 –1.0 0.4 0.1 0.1 0.5 0.3 –1.1 0.2 1.0 0.9 1.2 –0.6 0.1 0.7 –0.1 –0.9 0.4 1.2 0.9 1.7 0.8 0.2 0.7 0.3 –1.3 0.4 1.0 0.9 1.2 0.3 0.4 0.7 0.3 0.8 1.3 0.7 –0.3 2.2 0.2 –0.2 –0.7 0.3 1.0 1.3 –0.2 –0.3 –0.1 0.4 0.4 0.1 0.5 5 6 7 8 9 10 11 12 13 0.2 0.0 0.0 0.0 0.3 0.7 1.2 0.2 1.7 0.4 0.2 –0.4 –0.1 –0.5 0.5 –0.2 –0.8 0.4 –1.4 0.1 0.2 0.4 0.4 0.4 0.1 0.6 1.0 1.0 1.1 0.3 0.2 0.6 0.0 0.9 –0.1 0.3 0.2 0.5 0.0 0.4 14 15 16 17 18 0.4 0.2 0.2 0.2 –0.1 –0.1 0.0 0.2 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. –5.4 –5.1 1.1 0.9 0.5 0.4 0.3 19 0.3 20 p Preliminary r Revised Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2012 I II 2013 III IV I Line II r Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... Proprietors’ income with inventory valuation and capital 5 consumption adjustments...................................................... 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ......................................... 8 Personal interest income ....................................................... 9 Personal dividend income...................................................... 10 Personal current transfer receipts ............................................. 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes .................................................... 13 Equals: Disposable personal income ...................................... Addenda: 14 Personal consumption expenditures ......................................... 15 Goods .................................................................................... 16 Durable goods .................................................................... 17 Nondurable goods .............................................................. 18 Services................................................................................. 6.1 3.9 4.1 3.1 4.2 4.0 4.3 2.7 7.6 10.4 11.5 5.8 3.1 1.9 1.8 2.0 1.5 1.7 1.8 1.4 11.3 9.5 11.0 3.5 –4.1 –1.8 –2.6 1.7 4.1 2.9 3.1 2.0 1 2 3 4 11.9 20.3 8.3 0.8 25.0 1.3 –6.7 17.8 4.8 6.0 11.7 3.9 0.6 9.8 2.2 3.5 6.7 3.9 9.2 9.1 0.8 1.8 –0.9 3.5 10.6 13.1 6.9 1.2 10.3 5.6 4.9 6.8 4.1 1.1 4.8 2.9 0.7 6.8 –1.7 –5.1 4.1 2.1 1.0 4.5 1.1 9.3 6.5 31.3 5.0 85.8 4.0 8.9 15.9 10.7 31.0 14.8 –22.4 –0.9 –47.1 6.5 63.0 21.1 –7.0 2.1 9.2 12.6 3.3 29.7 0.8 2.4 9.1 3.4 5 6 7 8 9 10 11 12 13 5.0 7.1 5.5 7.9 3.9 4.1 4.6 6.4 3.8 3.8 5.3 6.8 9.1 5.8 4.5 3.0 1.0 1.7 0.6 4.0 3.4 5.1 5.9 4.7 2.6 3.3 4.4 8.3 2.7 2.8 3.4 2.7 4.7 1.8 3.7 1.7 –0.3 4.1 –2.4 2.8 14 15 16 17 18 1.8 1.8 –0.3 –0.6 11.0 9.0 –7.2 –7.9 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. r Revised 4.6 2.4 2.7 2.0 6.0 4.6 4.9 19 3.5 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2013 Line Jan. Feb. March April r May r June r July r Aug. p 10,707.7 3,653.6 1,334.2 2,335.6 7,053.3 10,714.9 3,671.6 1,339.0 2,348.7 7,042.7 10,732.4 3,675.8 1,350.2 2,343.2 7,056.1 Line Billions of chained (2009) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,614.3 3,601.1 1,300.3 2,314.6 7,012.3 10,643.5 3,614.6 1,304.6 2,323.8 7,028.0 10,674.2 3,620.2 1,305.5 2,328.3 7,053.0 10,678.7 3,623.2 1,314.9 2,323.2 7,054.5 10,689.4 3,642.0 1,320.6 2,336.2 7,046.6 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 11.9 6.0 –1.4 6.9 5.9 29.2 13.5 4.3 9.2 15.7 30.7 5.6 0.9 4.5 25.0 4.5 3.0 9.4 –5.1 1.5 10.7 18.8 5.7 13.0 –7.9 18.3 11.6 13.6 –0.6 6.7 7.2 18.0 4.8 13.1 –10.6 17.5 6 4.2 7 11.2 8 –5.5 9 13.4 10 Percent change from preceding period in chained (2009) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... 0.1 0.2 –0.1 0.3 0.1 0.3 0.4 0.3 0.4 0.2 0.3 0.2 0.1 0.2 0.4 0.0 0.1 0.7 –0.2 0.0 0.1 0.5 0.4 0.6 –0.1 0.2 0.3 1.0 0.0 0.1 0.1 0.5 0.4 0.6 –0.1 0.2 0.1 0.8 –0.2 0.2 11 12 13 14 15 p Preliminary r Revised Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2012 I 2013 II III IV I Line II r Billions of chained (2009) dollars 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,291.3 3,419.9 1,157.1 2,266.0 6,871.1 10,517.6 3,534.1 1,246.7 2,296.8 6,982.7 10,447.8 3,495.8 1,219.7 2,283.6 6,951.2 10,496.8 3,514.7 1,228.6 2,293.9 6,981.4 10,541.0 3,546.7 1,253.4 2,303.0 6,993.4 10,584.8 3,579.2 1,285.2 2,306.7 7,004.7 10,644.0 3,611.9 1,303.5 2,322.2 7,031.1 44.2 32.0 24.8 9.1 12.0 43.8 32.5 31.8 3.7 11.3 59.2 32.7 18.3 15.5 26.4 1.7 3.7 8.3 1.6 0.7 1.7 3.7 10.5 0.6 0.6 2.3 3.7 5.8 2.7 1.5 10,691.9 3,639.6 1,323.2 2,331.7 7,051.5 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 255.4 111.2 71.4 42.5 143.9 226.3 114.2 89.6 30.8 111.6 74.7 38.8 28.0 12.6 35.7 49.0 18.9 8.9 10.3 30.2 47.9 6 27.7 7 19.7 8 9.5 9 20.4 10 Percent change from preceding period in chained (2009) dollars 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... r Revised 2.5 3.4 6.6 1.9 2.1 2.2 3.3 7.7 1.4 1.6 2.9 4.6 9.8 2.2 2.1 1.9 2.2 2.9 1.8 1.7 1.8 3.1 6.2 1.6 1.2 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2013 Line Jan. Feb. March April r May r June r July r Aug. p Line Chain-type price indexes (2009=100), seasonally adjusted 1 Personal consumption expenditures (PCE) ............................ 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... Addenda: 6 PCE excluding food and energy ............................................... 7 Food 1 ....................................................................................... 8 Energy goods and services 2 .................................................... 9 Market-based PCE 3 ................................................................. 10 Market-based PCE excluding food and energy 3 ...................... 106.663 106.267 95.616 111.611 106.880 107.083 107.129 95.516 113.006 107.073 106.980 106.526 95.328 112.174 107.227 106.685 105.573 95.070 110.834 107.271 106.772 105.442 94.999 110.670 107.470 107.177 106.205 94.980 111.873 107.691 107.276 106.311 94.660 112.220 107.786 107.423 106.360 94.371 112.463 107.983 1 2 3 4 5 105.459 107.349 126.445 106.521 105.110 105.550 107.547 133.493 107.001 105.225 105.619 107.613 129.970 106.879 105.295 105.575 107.730 124.254 106.503 105.194 105.674 107.467 124.583 106.610 105.318 105.884 107.744 128.863 107.050 105.540 105.968 107.859 129.209 107.178 105.657 106.131 6 108.083 7 128.912 8 107.260 9 105.747 10 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates 11 Personal consumption expenditures (PCE) ............................ 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... Addenda: 16 PCE excluding food and energy ............................................... 17 Food 1 ....................................................................................... 18 Energy goods and services 2 .................................................... 19 Market-based PCE 3 ................................................................. 20 Market-based PCE excluding food and energy 3 ...................... 0.1 –0.2 0.1 –0.3 0.2 0.4 0.8 –0.1 1.2 0.2 –0.1 –0.6 –0.2 –0.7 0.1 –0.3 –0.9 –0.3 –1.2 0.0 0.1 –0.1 –0.1 –0.1 0.2 0.4 0.7 0.0 1.1 0.2 0.1 0.1 –0.3 0.3 0.1 0.1 0.0 –0.3 0.2 0.2 11 12 13 14 15 0.2 0.0 –1.8 0.1 0.3 0.1 0.2 5.6 0.5 0.1 0.1 0.1 –2.6 –0.1 0.1 0.0 0.1 –4.4 –0.4 –0.1 0.1 –0.2 0.3 0.1 0.1 0.2 0.3 3.4 0.4 0.2 0.1 0.1 0.3 0.1 0.1 0.2 0.2 –0.2 0.1 0.1 16 17 18 19 20 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 2013 Line Jan. 1 Disposable personal income .................................................... 2 Personal consumption expenditures ....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services .................................................................................... Feb. –0.1 2.0 3.7 7.7 1.8 1.1 March 0.5 1.7 3.2 6.6 1.6 0.9 April 0.8 2.0 3.1 6.3 1.7 1.4 r May r 0.8 1.7 3.0 7.1 1.1 1.1 0.9 1.8 3.6 7.7 1.8 0.9 June r 0.7 2.0 4.1 8.3 2.1 1.0 July r 1.0 1.7 3.9 8.0 2.1 0.6 Aug. p 1.6 2.0 3.8 8.0 1.9 1.1 Line 1 2 3 4 5 6 p Preliminary r Revised Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2013 Line 1 Personal consumption expenditures (PCE) ............................ 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... Addenda: 6 PCE excluding food and energy ............................................... 7 Food 1 ....................................................................................... 8 Energy goods and services 2 .................................................... 9 Market-based PCE 3 ................................................................. 10 Market-based PCE excluding food and energy 3 ...................... Jan. Feb. March April r May r June r July r 1.4 0.0 –1.6 0.8 2.1 1.5 0.4 –1.7 1.4 2.1 1.2 –0.5 –1.7 0.1 2.1 0.9 –1.1 –1.8 –0.7 1.9 1.0 –0.7 –1.9 –0.2 1.9 1.3 0.0 –1.8 0.9 1.9 1.3 0.3 –1.8 1.3 1.9 1.5 1.1 –0.8 1.3 1.4 1.5 1.2 2.4 1.5 1.4 1.4 1.1 –1.6 1.1 1.3 1.2 1.2 –4.1 0.8 1.1 1.2 1.0 –0.9 1.0 1.1 1.2 1.0 3.2 1.2 1.1 1.1 1.2 4.8 1.4 1.1 Aug. p 1.2 –0.4 –1.9 0.4 1.9 Line 1 2 3 4 5 1.2 6 1.2 7 –0.2 8 1.1 9 1.2 10 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.