The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, SEPTEMBER 27, 2019 Technical: Media: Brian Smith (Personal Income) Kyle Brown (PCE) Thomas Dail (301) 278-9625 (301) 278-9086 (301) 278-9003 BEA 19-48 piniwd@bea.gov pce@bea.gov Thomas.Dail@bea.gov Personal Income and Outlays: August 2019 Personal income increased $73.5 billion (0.4 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $77.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $20.1 billion (0.1 percent). Real DPI increased 0.4 percent in August and Real PCE increased 0.1 percent. The PCE price index increased less than 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent. Apr. Personal income: Current dollars Disposable personal income: Current dollars Chained (2012) dollars Personal consumption expenditures (PCE): Current dollars Chained (2012) dollars Price indexes: PCE PCE, excluding food and energy Price indexes: PCE PCE, excluding food and energy 2019 May Jun. Jul. Aug. Percent change from preceding month 0.4 0.4 0.4 0.1 0.4 0.4 0.1 0.3 0.2 0.4 0.3 0.3 0.0 0.5 0.4 0.7 0.4 0.4 0.3 0.3 0.2 0.5 0.3 0.1 0.1 0.3 0.2 0.1 0.1 0.1 0.3 0.2 0.2 0.0 0.1 Percent change from month one year ago 1.5 1.4 1.4 1.4 1.4 1.6 1.5 1.6 1.7 1.8 The $73.5 billion increase in personal income in August primarily reflected increases in wages and salaries, nonfarm proprietors’ income, and personal current transfer receipts that were partially offset by a decrease in personal interest income (table 3). The $13.9 billion increase in real PCE in August reflected an increase of $18.0 billion in spending for goods and a $1.6 billion decrease in spending for services (table 7). Within goods, recreational goods and vehicles was the leading contributor to the increase. Within services, the largest contributor to the decrease was spending for food services and accommodations. Detailed information on monthly real PCE spending can be found on Table 2.3.6U. Personal outlays increased $22.3 billion in August (table 3). Personal saving was $1.35 trillion in August and the personal saving rate, personal saving as a percentage of disposable personal income, was 8.1 percent (table 1). Updates to Personal Income and Outlays Estimates have been updated for April through July. The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE -- revised and as published in last month's release -- are shown below. Change from preceding month June July Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars Disposable personal income: Current dollars Chained (2012) dollars Personal consumption expenditures: Current dollars Chained (2012) dollars 83.8 81.6 0.5 0.4 23.9 23.6 0.1 0.1 69.7 45.9 67.6 42.4 0.4 0.3 0.4 0.3 44.4 8.9 42.0 2.6 0.3 0.1 0.3 0.0 50.3 30.2 48.9 27.5 0.3 0.2 0.3 0.2 93.1 56.9 72.7 34.6 0.6 0.4 0.5 0.3 Next release: October 31, 2019 at 8:30 A.M. EDT Personal Income and Outlays: September 2019 Additional Information Resources Additional Resources available at www.bea.gov: • • • • • • Stay informed about BEA developments by reading The BEA Wire, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. Historical time series for these estimates can be accessed in BEA’s Interactive Data Application. Access BEA data by registering for BEA’s Data Application Programming Interface (API). For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business. BEA's news release schedule NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts Definitions Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses. Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes. Personal consumption expenditures (PCE) is the value of the goods and services purchased by, or on the behalf of, “persons” who reside in the United States. Personal outlays is the sum of PCE, personal interest payments, and personal current transfer payments. Personal saving is personal income less personal outlays and personal current taxes. The personal saving rate is personal saving as a percentage of disposable personal income. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at “market value.” Also referred to as “nominal estimates” or as “current-price estimates.” Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. For more definitions, see the Glossary: National Income and Product Accounts. Statistical conventions Annual rates. Monthly and quarterly values are expressed at seasonally-adjusted annual rates (SAAR). Dollar changes are calculated as the difference between these SAAR values. For detail, see the FAQ “Why does BEA publish estimates at annual rates?” Month-to-month percent changes are calculated from unrounded data and are not annualized. Quarter-to-quarter percent changes are calculated from unrounded data and are displayed at annual rates. For detail, see the FAQ “How is average annual growth calculated?” Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity and price indexes are calculated using a Fisherchained weighted formula that incorporates weights from two adjacent periods (months for monthly data, quarters for quarterly data and annuals for annual data). For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. In tables that display chaineddollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate. List of Personal Income and Outlays News Release Tables Table 1. Table 2. Table 3. Table 4. Table 5. Table 6. Table 7. Table 8. Table 9. Table 10. Table 11. Personal Income and Its Disposition (Months) Personal Income and Its Disposition (Years and Quarters) Personal Income and Its Disposition, Change From Preceding Period (Months) Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters) Personal Income and Its Disposition, Percent Change From Preceding Period (Months) Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters) Real Personal Consumption Expenditures by Major Type of Product (Months) Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago - September 27, 2019 Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Jan. 18,257.4 11,216.2 9,130.6 7,701.1 1,512.4 901.8 6,188.7 1,389.4 4,799.4 1,429.4 2,085.7 1,446.3 639.4 Feb. 18,363.5 11,308.8 9,213.7 7,781.3 1,526.4 907.8 6,255.0 1,399.1 4,855.9 1,432.3 2,095.1 1,450.2 644.9 Seasonally adjusted at annual rates 2019 March Aprilr Mayr Juner 18,445.5 18,527.9 18,594.6 18,676.2 11,394.7 11,406.3 11,423.9 11,480.4 9,290.3 9,296.6 9,308.5 9,355.8 7,855.9 7,858.3 7,867.2 7,907.4 1,537.1 1,544.5 1,546.8 1,556.0 911.7 912.4 914.2 920.0 6,318.9 6,313.9 6,320.3 6,351.4 1,421.9 1,405.6 1,406.9 1,414.7 4,897.0 4,908.3 4,913.4 4,936.7 1,434.3 1,438.3 1,441.3 1,448.4 2,104.5 2,109.7 2,115.4 2,124.6 1,454.4 1,459.3 1,464.3 1,470.4 650.1 650.4 651.0 654.1 1,624.2 28.3 1,595.9 764.1 2,951.2 1,700.8 1,250.4 3,098.4 3,043.9 1,020.0 768.2 604.5 26.9 115.6 508.7 54.5 1,396.8 2,139.0 16,118.4 14,783.5 14,227.6 4,391.9 1,483.4 2,908.5 9,835.8 358.3 197.5 107.9 89.7 1,334.9 8.3 1,625.4 31.5 1,593.9 766.9 2,956.3 1,696.5 1,259.8 3,113.9 3,059.5 1,022.6 775.0 610.0 27.0 116.5 508.4 54.4 1,407.8 2,159.7 16,203.7 14,773.3 14,216.6 4,353.6 1,463.8 2,889.9 9,862.9 359.1 197.7 108.0 89.7 1,430.4 8.8 1,613.9 14.7 1,599.2 770.1 2,957.9 1,700.7 1,257.2 3,127.1 3,072.7 1,026.0 781.5 616.6 26.8 117.2 504.6 54.4 1,418.2 2,172.0 16,273.5 14,912.3 14,354.6 4,447.6 1,508.9 2,938.6 9,907.0 359.8 197.9 108.2 89.7 1,361.2 8.4 1,623.1 16.7 1,606.4 773.3 3,000.5 1,735.3 1,265.2 3,144.0 3,089.6 1,028.2 787.7 624.8 25.7 117.6 505.6 54.4 1,419.2 2,193.2 16,334.8 15,012.7 14,452.5 4,483.1 1,507.8 2,975.3 9,969.5 361.4 198.7 108.4 90.3 1,322.1 8.1 1,634.6 19.1 1,615.5 777.0 3,021.7 1,755.4 1,266.4 3,158.3 3,103.9 1,030.4 793.7 631.8 25.9 118.2 503.9 54.4 1,420.9 2,209.1 16,385.6 15,078.0 14,516.0 4,512.7 1,529.0 2,983.7 10,003.4 363.0 198.9 108.6 90.3 1,307.6 8.0 1,641.0 21.8 1,619.1 781.4 3,027.3 1,760.9 1,266.4 3,173.4 3,119.0 1,032.9 799.4 637.7 26.1 119.4 503.6 54.5 1,427.3 2,223.1 16,453.2 15,128.6 14,565.0 4,525.2 1,537.1 2,988.2 10,039.7 364.6 199.1 108.8 90.3 1,324.6 8.1 1,650.6 20.6 1,630.0 783.0 3,003.4 1,728.3 1,275.1 3,184.1 3,129.6 1,035.0 804.8 641.1 26.0 119.5 503.2 54.5 1,430.3 2,204.6 16,495.2 15,203.6 14,637.6 4,563.8 1,543.2 3,020.7 10,073.8 366.7 199.3 108.9 90.3 1,291.6 7.8 1,660.1 19.5 1,640.6 784.5 2,998.1 1,718.2 1,279.9 3,193.9 3,139.3 1,037.5 810.0 643.6 25.9 120.1 502.4 54.6 1,437.9 2,200.4 16,572.9 15,225.9 14,657.7 4,568.6 1,554.4 3,014.1 10,089.1 368.7 199.5 109.1 90.3 1,347.0 8.1 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 44 13,941.3 14,012.2 14,046.0 14,062.4 14,096.2 14,138.7 14,116.8 14,170.1 45 14,823.6 14,889.0 14,921.7 14,931.5 14,963.0 15,005.4 15,008.0 15,073.8 46 49,061 45,120 328,539 49,300 45,300 328,677 49,491 45,380 328,817 49,654 45,389 328,969 49,784 45,462 329,131 49,963 45,567 329,304 50,062 45,549 329,493 50,268 45,721 329,689 47 48 49 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 funds1 13 Employer contributions for government social insurance 14 Proprietors' income with inventory valuation and capital consumption adjustments 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 44 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 Social security2 Medicare3 Medicaid Unemployment insurance Veterans' 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 payments4 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: 45 Personal income excluding current transfer receipts, billions of chained (2012) dollars5 46 47 48 49 Disposable personal income: Total, billions of chained (2012) dollars5 Per capita: Current dollars Chained (2012) dollars Population (midperiod, thousands)6 Line Julyr 18,699.8 11,509.1 9,377.8 7,924.6 1,557.4 920.0 6,367.1 1,415.3 4,951.8 1,453.2 2,131.3 1,475.9 655.4 Aug.p 18,773.3 11,574.6 9,434.5 7,977.7 1,563.3 923.6 6,414.4 1,426.7 4,987.7 1,456.8 2,140.2 1,481.0 659.2 1 2 3 4 5 6 7 8 9 10 11 12 13 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. Note that mortgage interest paid by households is an expense item in the calculation of rental income of persons. 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. Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] 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 funds1 13 Employer contributions for government social insurance 14 Proprietors' income with inventory valuation and capital consumption adjustments 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 44 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 Social security2 Medicare3 Medicaid Unemployment insurance Veterans' 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 payments4 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: 45 Personal income excluding current transfer receipts, billions of chained (2012) dollars5 46 47 48 49 Disposable personal income: Total, billions of chained (2012) dollars5 Per capita: Current dollars Chained (2012) dollars Population (midperiod, thousands)6 2017 2018 16,878.8 10,411.6 8,462.1 7,114.1 1,391.7 845.6 5,722.4 1,312.5 4,410.0 1,348.0 1,949.5 1,343.9 605.7 17,819.2 10,928.5 8,888.5 7,485.9 1,471.6 883.2 6,014.3 1,361.0 4,653.3 1,402.6 2,040.0 1,417.2 622.8 Q1 17,540.3 10,786.0 8,776.7 7,396.3 1,461.7 881.7 5,934.5 1,348.0 4,586.6 1,380.4 2,009.4 1,391.8 617.6 Seasonally adjusted at annual rates 2018 2019 Line Q2 Q3 Q4 Q1 Q2r 17,725.0 17,928.5 18,082.8 18,355.4 18,599.6 1 10,876.1 10,994.3 11,057.4 11,306.6 11,436.8 2 8,845.0 8,942.2 8,990.0 9,211.5 9,320.3 3 7,450.9 7,529.6 7,566.8 7,779.5 7,877.6 4 1,459.4 1,477.3 1,488.0 1,525.3 1,549.1 5 875.0 884.6 891.6 907.1 915.5 6 5,991.5 6,052.2 6,078.8 6,254.2 6,328.5 7 1,356.8 1,366.3 1,373.1 1,403.5 1,409.1 8 4,634.7 4,686.0 4,705.8 4,850.7 4,919.5 9 1,394.1 1,412.6 1,423.3 1,432.0 1,442.7 10 2,031.1 2,052.0 2,067.4 2,095.1 2,116.5 11 1,410.9 1,426.6 1,439.3 1,450.3 1,464.7 12 620.2 625.4 628.1 644.8 651.8 13 1,518.2 38.1 1,480.1 718.8 2,681.6 1,551.6 1,130.0 2,848.1 2,800.1 926.1 689.3 577.4 29.8 104.0 473.5 48.1 1,299.6 2,045.8 14,833.0 13,802.1 13,312.1 4,165.0 1,412.6 2,752.5 9,147.0 299.3 190.7 103.6 87.1 1,030.9 7.0 1,588.8 27.2 1,561.6 756.8 2,930.1 1,702.7 1,227.5 2,971.5 2,918.3 972.4 730.9 597.7 27.1 109.9 480.3 53.2 1,356.5 2,077.6 15,741.5 14,531.1 13,998.7 4,364.8 1,475.6 2,889.2 9,633.9 336.7 195.8 106.9 88.9 1,210.4 7.7 1,567.5 28.1 1,539.4 743.8 2,851.6 1,669.6 1,182.0 2,935.4 2,884.8 960.5 710.2 589.8 28.8 108.8 486.7 50.6 1,344.0 2,074.9 15,465.4 14,245.2 13,728.4 4,298.5 1,454.8 2,843.7 9,429.8 322.3 194.5 105.7 88.8 1,220.2 7.9 1,573.3 27.5 1,545.8 754.0 2,909.3 1,694.6 1,214.7 2,963.1 2,910.1 968.0 721.9 600.4 27.2 109.0 483.5 53.0 1,350.9 2,071.7 15,653.3 14,465.9 13,939.8 4,363.2 1,476.7 2,886.5 9,576.6 329.6 196.4 106.5 89.9 1,187.4 7.6 1,590.0 17.4 1,572.6 765.2 2,957.7 1,719.3 1,238.4 2,983.8 2,929.4 976.0 736.7 602.9 26.6 109.9 477.4 54.4 1,362.4 2,086.5 15,842.0 14,655.6 14,114.6 4,398.0 1,485.2 2,912.8 9,716.6 341.5 199.6 107.3 92.3 1,186.4 7.5 1,624.4 35.9 1,588.4 764.1 3,002.0 1,727.2 1,274.8 3,003.7 2,949.0 985.1 754.6 597.6 26.0 111.8 473.8 54.7 1,368.7 2,077.4 16,005.4 14,757.8 14,211.9 4,399.4 1,485.6 2,913.8 9,812.5 353.4 192.5 107.9 84.5 1,247.6 7.8 1,621.2 24.8 1,596.3 767.0 2,955.1 1,699.3 1,255.8 3,113.1 3,058.7 1,022.9 774.9 610.3 26.9 116.4 507.3 54.4 1,407.6 2,156.9 16,198.5 14,823.0 14,266.3 4,397.7 1,485.4 2,912.3 9,868.6 359.1 197.7 108.0 89.7 1,375.5 8.5 1,632.9 19.2 1,613.7 777.2 3,016.5 1,750.5 1,266.0 3,158.6 3,104.2 1,030.5 793.6 631.4 25.9 118.4 504.4 54.4 1,422.5 2,208.4 16,391.2 15,073.1 14,511.2 4,507.0 1,524.6 2,982.4 10,004.2 363.0 198.9 108.6 90.3 1,318.1 8.0 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 44 13,245.3 13,729.6 13,599.1 13,670.5 13,785.6 13,863.6 13,999.8 14,099.1 45 14,002.8 14,556.2 14,400.3 14,495.9 14,613.3 14,715.2 14,878.1 14,966.6 46 45,583 43,031 325,410 48,075 44,455 327,436 47,343 44,082 326,670 47,849 44,311 327,138 48,343 44,594 327,697 48,762 44,831 328,237 49,284 45,267 328,678 49,801 45,473 329,135 47 48 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. Note that mortgage interest paid by households is an expense item in the calculation of rental income of persons. 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. Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months) [Billions of dollars] 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 funds1 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 security2 24 Medicare3 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 payments4 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 (2012) dollars5 45 Disposable personal income, billions of chained (2012) dollars5 Seasonally adjusted at annual rates 2019 March Aprilr Mayr Juner 82.0 82.4 66.7 81.6 86.0 11.5 17.6 56.5 76.6 6.3 11.9 47.3 74.6 2.4 8.8 40.2 10.7 7.4 2.4 9.2 3.9 0.7 1.8 5.8 63.9 -5.0 6.5 31.0 22.8 -16.3 1.4 7.7 41.1 11.3 5.1 23.3 2.0 3.9 3.1 7.1 9.4 5.2 5.7 9.2 4.1 4.9 5.0 6.1 5.2 0.3 0.7 3.1 Jan. 51.9 127.2 114.2 110.8 18.5 6.6 92.3 13.1 79.2 3.4 13.0 3.4 9.6 Feb. 106.1 92.5 83.1 80.2 14.0 6.0 66.2 9.7 56.5 2.9 9.4 3.9 5.5 -24.9 -30.2 5.3 2.0 -114.7 -35.6 -79.0 86.9 87.0 34.9 7.0 5.0 0.4 3.4 36.3 -0.1 24.5 55.6 -3.7 84.7 79.0 69.4 25.4 44.0 9.6 0.9 4.8 -0.3 5.1 -88.4 1.3 3.2 -1.9 2.7 5.1 -4.3 9.4 15.5 15.6 2.6 6.8 5.5 0.2 0.8 -0.3 -0.1 11.0 20.8 85.4 -10.1 -11.1 -38.2 -19.6 -18.6 27.2 0.8 0.2 0.2 0.0 95.5 -11.6 -16.8 5.2 3.3 1.6 4.1 -2.6 13.1 13.2 3.4 6.5 6.6 -0.2 0.7 -3.8 0.0 10.4 12.3 69.8 139.0 138.0 93.9 45.2 48.8 44.1 0.8 0.2 0.2 0.0 -69.2 9.3 2.0 7.3 3.1 42.6 34.6 8.0 16.9 16.9 2.2 6.2 8.2 -1.1 0.4 1.0 0.0 1.0 21.2 61.3 100.4 97.9 35.5 -1.2 36.7 62.4 1.6 0.9 0.2 0.7 -39.1 11.4 2.4 9.0 3.8 21.2 20.1 1.2 14.3 14.3 2.2 6.0 7.0 0.2 0.6 -1.7 0.0 1.7 15.9 50.8 65.3 63.5 29.6 21.2 8.4 33.9 1.6 0.2 0.2 0.0 -14.5 -20.4 9.1 70.9 65.3 33.8 32.7 16.4 9.8 33.8 31.5 Line Julyr 23.6 28.7 21.9 17.2 1.4 0.0 15.8 0.6 15.2 4.7 6.7 5.4 1.3 Aug.p 73.5 65.6 56.7 53.1 5.9 3.6 47.2 11.4 35.8 3.6 8.8 5.1 3.7 1 2 3 4 5 6 7 8 9 10 11 12 13 6.4 2.7 3.7 4.4 5.6 5.6 0.0 15.1 15.1 2.4 5.7 5.9 0.2 1.2 -0.4 0.0 6.3 14.0 67.6 50.7 48.9 12.6 8.0 4.5 36.4 1.6 0.2 0.2 0.0 17.0 9.6 -1.2 10.8 1.5 -23.9 -32.6 8.7 10.6 10.6 2.2 5.4 3.4 -0.1 0.1 -0.4 0.1 3.0 -18.5 42.0 74.9 72.7 38.6 6.1 32.5 34.1 2.1 0.2 0.2 0.0 -32.9 9.5 -1.2 10.7 1.5 -5.3 -10.1 4.8 9.9 9.8 2.5 5.2 2.5 -0.1 0.6 -0.8 0.1 7.6 -4.2 77.7 22.3 20.1 4.7 11.3 -6.5 15.3 2.1 0.2 0.2 0.0 55.4 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 42.5 42.4 -21.9 2.6 53.3 65.8 44 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. Note that mortgage interest paid by households is an expense item in the calculation of rental income of persons. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 4. Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters) [Billions of dollars] Line 2017 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 funds1 13 Employer contributions for government social insurance 14 Proprietors' income with inventory valuation and capital consumption adjustments 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 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 Social security2 Medicare3 Medicaid Unemployment insurance Veterans' 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 payments4 Personal current transfer payments To government To the rest of the world (net) Equals: Personal saving Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2012) dollars5 45 Disposable personal income, billions of chained (2012) dollars5 2018 Seasonally adjusted at annual rates 2018 2019 Line Q2 Q3 Q4 Q1 Q2r 184.6 203.5 154.3 272.6 244.2 1 90.1 118.1 63.1 249.2 130.3 2 68.4 97.2 47.8 221.5 108.8 3 54.6 78.7 37.2 212.7 98.2 4 -2.4 17.9 10.6 37.3 23.8 5 -6.7 9.6 6.9 15.6 8.4 6 57.0 60.8 26.6 175.4 74.3 7 8.8 9.5 6.8 30.4 5.6 8 48.1 51.2 19.8 145.0 68.7 9 13.8 18.5 10.6 8.8 10.7 10 21.7 20.9 15.3 27.7 21.5 11 19.1 15.7 12.7 11.0 14.4 12 2.6 5.2 2.7 16.7 7.1 13 757.6 451.3 378.6 338.6 63.5 31.8 275.1 51.1 224.0 40.0 72.7 48.3 24.4 940.4 516.8 426.4 371.8 79.9 37.7 291.8 48.5 243.3 54.6 90.4 73.3 17.2 Q1 309.2 158.1 134.6 121.4 39.9 20.2 81.5 18.5 63.0 13.2 23.4 21.8 1.7 94.5 2.5 92.0 37.4 160.2 94.2 66.0 73.9 85.5 29.6 29.1 14.7 -1.9 8.1 5.9 -11.6 59.7 89.7 667.9 595.8 563.6 169.1 59.9 109.2 394.5 25.6 6.7 1.6 5.0 72.1 70.5 -10.9 81.4 38.0 248.5 151.1 97.4 123.4 118.2 46.3 41.6 20.2 -2.6 5.8 6.9 5.1 56.9 31.9 908.5 729.0 686.6 199.8 63.0 136.7 486.8 37.4 5.0 3.3 1.8 179.5 24.6 -3.7 28.3 7.8 84.2 61.1 23.1 56.7 53.3 22.9 8.9 5.8 -0.4 2.4 13.6 3.4 22.2 -40.8 350.0 155.0 142.1 34.6 4.3 30.3 107.5 12.1 0.8 1.1 -0.3 195.0 5.8 -0.6 6.4 10.3 57.7 24.9 32.7 27.7 25.3 7.5 11.7 10.6 -1.6 0.2 -3.1 2.4 6.9 -3.2 187.9 220.6 211.5 64.6 21.9 42.8 146.8 7.3 1.9 0.8 1.0 -32.8 16.7 -10.2 26.8 11.2 48.4 24.7 23.7 20.7 19.4 8.0 14.8 2.5 -0.7 0.9 -6.2 1.4 11.5 14.8 188.8 189.8 174.7 34.8 8.6 26.3 139.9 11.9 3.2 0.7 2.4 -1.0 34.4 18.6 15.8 -1.1 44.3 8.0 36.4 19.9 19.5 9.1 17.9 -5.3 -0.5 1.9 -3.6 0.4 6.3 -9.1 163.4 102.2 97.4 1.4 0.4 1.0 96.0 11.9 -7.1 0.7 -7.8 61.2 -3.2 -11.1 7.9 2.9 -46.8 -27.9 -19.0 109.4 109.7 37.8 20.3 12.8 0.9 4.6 33.5 -0.3 38.9 79.5 193.1 65.2 54.3 -1.7 -0.3 -1.4 56.1 5.7 5.2 0.1 5.1 127.9 11.7 -5.6 17.4 10.2 61.4 51.2 10.2 45.4 45.4 7.6 18.7 21.1 -1.0 2.0 -2.9 0.0 14.9 51.5 192.6 250.1 244.9 109.3 39.3 70.0 135.6 3.9 1.2 0.5 0.7 -57.4 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 43 422.9 394.4 484.3 553.4 151.5 237.9 71.4 95.6 115.1 117.3 78.0 101.9 136.2 162.9 99.3 88.5 44 45 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. Note that mortgage interest paid by households is an expense item in the calculation of rental income of persons. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months) Line Jan. Feb. 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 July p Aug. 0.4 0.1 0.1 0.2 0.4 0.2 0.1 0.3 0.4 0.5 0.5 0.4 0.1 0.2 0.2 0.3 0.4 0.6 0.6 0.4 1 2 3 4 -1.5 0.1 0.3 0.4 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets -3.7 0.2 8 Personal interest income -2.1 -0.3 9 Personal dividend income -5.9 0.7 10 Personal current transfer receipts 2.9 0.5 1.8 0.8 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes 2.7 1.0 13 Equals: Disposable personal income 0.0 0.5 Addenda: 14 Personal consumption expenditures 0.6 -0.1 15 Goods 1.6 -0.9 16 Durable goods 1.7 -1.3 17 Nondurable goods 1.5 -0.6 18 Services 0.1 0.3 Based on chained (2012) dollar measures -0.7 0.4 0.1 0.2 -0.2 0.4 0.7 0.6 0.4 0.6 0.4 1.4 2.0 0.6 0.5 0.1 1.0 0.4 0.7 0.5 0.7 1.2 0.1 0.5 0.1 0.7 0.3 0.4 0.6 0.2 0.3 0.0 0.5 0.4 0.6 0.4 0.6 0.2 -0.8 -1.9 0.7 0.3 0.2 -0.8 0.3 0.6 0.2 -0.2 -0.6 0.4 0.3 0.5 -0.2 0.5 5 6 7 8 9 10 11 12 13 1.0 2.2 3.1 1.7 0.4 0.7 0.8 -0.1 1.2 0.6 0.4 0.7 1.4 0.3 0.3 0.3 0.3 0.5 0.2 0.4 0.5 0.9 0.4 1.1 0.3 0.1 0.1 0.7 -0.2 0.2 14 15 16 17 18 19 20 0.2 0.2 0.1 0.1 0.2 0.2 0.3 0.3 -0.2 0.0 0.4 0.4 19 20 -0.1 0.1 0.6 0.8 0.9 0.5 Line r 0.4 0.8 0.8 0.4 Real personal income excluding transfer receipts Real disposable personal income 0.3 1.1 1.3 0.6 Seasonally adjusted at monthly rates 2019 r March Mayr Juner April 0.5 0.4 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters) 2017 Line Seasonally adjusted at annual rates 2018 2019 Q2 Q3 Q4 Q1 Q2r 2018 Q1 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 4.7 4.5 4.7 3.9 5.6 5.0 5.0 4.6 6.6 4.6 6 Rental income of persons with capital consumption adjustment 5.5 5.3 7 Personal income receipts on assets 6.4 9.3 8 Personal interest income 6.5 9.7 9 Personal dividend income 6.2 8.6 10 Personal current transfer receipts 2.7 4.3 4.8 4.4 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes 4.6 1.6 13 Equals: Disposable personal income 4.7 6.1 Addenda: 14 Personal consumption expenditures 4.4 5.2 15 Goods 4.2 4.8 16 Durable goods 4.4 4.5 17 Nondurable goods 4.1 5.0 18 Services 4.5 5.3 Based on chained (2012) dollar measures 19 20 Real personal income excluding transfer receipts Real disposable personal income r Revised Source: U.S. Bureau of Economic Analysis 3.3 2.9 3.7 4.0 Line 7.4 6.1 6.4 4.8 4.3 3.4 3.2 4.4 4.7 4.4 4.5 4.2 3.5 2.3 2.2 3.0 6.2 9.3 10.2 5.5 5.4 4.7 4.8 4.2 1 2 3 4 6.5 4.3 12.7 16.1 8.2 8.1 6.9 -7.5 9.6 1.5 5.6 8.3 6.1 11.6 3.8 2.1 -0.6 4.9 4.3 6.1 6.8 6.0 8.0 2.8 3.5 2.9 4.9 8.9 -0.6 6.1 1.9 12.3 2.7 1.9 -1.7 4.2 -0.8 1.5 -6.1 -6.3 -5.8 15.4 11.9 16.2 4.9 2.9 5.4 8.6 12.6 3.3 6.0 4.3 9.9 4.8 5 6 7 8 9 10 11 12 13 4.2 3.3 1.2 4.4 4.7 6.3 6.2 6.1 6.2 6.4 5.1 3.2 2.3 3.7 6.0 2.8 0.1 0.1 0.1 4.0 1.5 -0.2 -0.1 -0.2 2.3 7.0 10.3 11.0 10.0 5.6 14 15 16 17 18 4.6 6.9 2.1 2.7 3.4 3.3 2.3 2.8 4.0 4.5 2.9 2.4 19 20 September 27, 2019 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) Line 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2019 r Jan. Feb. March Mayr Juner April Billions of chained (2012) dollars, seasonally adjusted at annual rates Personal consumption expenditures (PCE) 13,084.8 13,063.0 13,162.2 13,210.9 13,255.8 13,283.4 Goods 4,647.0 4,607.0 4,693.5 4,721.5 4,749.5 4,768.2 Durable goods 1,698.6 1,680.9 1,739.5 1,743.3 1,766.9 1,767.7 Nondurable goods 2,959.4 2,936.6 2,967.9 2,991.4 2,997.6 3,014.8 Services 8,467.5 8,479.7 8,502.1 8,525.0 8,544.3 8,554.9 Change from preceding period in billions of chained (2012) dollars, seasonally adjusted at annual rates Personal consumption expenditures (PCE) 83.6 -21.7 99.2 48.8 44.9 27.5 Goods 76.2 -40.0 86.5 28.0 28.0 18.7 Durable goods 24.8 -17.7 58.6 3.8 23.7 0.8 Nondurable goods 51.2 -22.8 31.3 23.5 6.2 17.2 Services 16.2 12.1 22.5 22.9 19.3 10.6 Percent change from preceding period in chained (2012) dollars, seasonally adjusted at monthly rates Personal consumption expenditures (PCE) 0.6 -0.2 0.8 0.4 0.3 0.2 Goods 1.7 -0.9 1.9 0.6 0.6 0.4 Durable goods 1.5 -1.0 3.5 0.2 1.4 0.0 Nondurable goods 1.8 -0.8 1.1 0.8 0.2 0.6 Services 0.2 0.1 0.3 0.3 0.2 0.1 Line Julyr Aug.p 13,317.9 4,801.1 1,782.5 3,033.4 8,560.6 13,331.8 4,819.2 1,799.2 3,036.0 8,559.0 1 2 3 4 5 34.6 32.9 14.8 18.6 5.7 13.9 18.0 16.8 2.6 -1.6 6 7 8 9 10 0.3 0.7 0.8 0.6 0.1 0.1 0.4 0.9 0.1 0.0 11 12 13 14 15 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates Line 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2017 2018 2018 Q1 Q2 Billions of chained (2012) dollars Personal consumption expenditures (PCE) 12,566.9 12,944.6 12,782.9 12,909.2 Goods 4,403.4 4,583.3 4,513.9 4,573.5 Durable goods 1,586.4 1,685.7 1,652.8 1,685.1 Nondurable goods 2,825.2 2,909.6 2,872.0 2,900.8 Services 8,182.2 8,388.1 8,293.5 8,362.9 Change from preceding period in billions of chained (2012) dollars Personal consumption expenditures (PCE) 319.5 377.6 53.2 126.3 Goods 166.8 179.9 14.1 59.6 Durable goods 102.2 99.3 9.3 32.2 Nondurable goods 67.7 84.4 5.3 28.8 Services 161.1 206.0 38.5 69.4 Percent change from preceding period in chained (2012) dollars Personal consumption expenditures (PCE) 2.6 3.0 1.7 4.0 Goods 3.9 4.1 1.3 5.4 Durable goods 6.9 6.3 2.3 8.0 Nondurable goods 2.5 3.0 0.7 4.1 Services 2.0 2.5 1.9 3.4 r Revised Source: U.S. Bureau of Economic Analysis 2019 Q3 Q4 Line Q2r Q1 13,019.8 4,614.0 1,699.8 2,926.6 8,433.6 13,066.3 4,631.8 1,705.2 2,938.9 8,462.6 13,103.3 4,649.2 1,706.3 2,954.6 8,483.1 13,250.0 4,746.4 1,759.3 3,001.3 8,541.4 1 2 3 4 5 110.6 40.4 14.8 25.8 70.7 46.5 17.8 5.4 12.3 29.0 37.0 17.4 1.1 15.7 20.5 146.7 97.3 53.0 46.6 58.3 6 7 8 9 10 3.5 3.6 3.6 3.6 3.4 1.4 1.6 1.3 1.7 1.4 1.1 1.5 0.3 2.2 1.0 4.6 8.6 13.0 6.5 2.8 11 12 13 14 15 September 27, 2019 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2019 Jan. Feb. March Aprilr Chain-type price indexes (2012=100), seasonally adjusted 108.739 108.835 109.064 109.403 94.511 94.500 94.760 94.949 87.327 87.078 86.742 86.490 98.282 98.408 99.013 99.460 116.165 116.320 116.532 116.951 Line Mayr Personal consumption expenditures (PCE) 109.511 1 95.013 2 Goods 3 Durable goods 86.536 4 Nondurable goods 99.534 117.084 5 Services Addenda: 6 PCE excluding food and energy 110.852 110.894 110.960 111.232 111.362 103.902 104.428 104.687 104.326 104.615 7 Food1 82.477 82.866 85.845 88.365 87.851 8 Energy goods and services2 106.691 106.788 107.009 107.303 107.381 9 Market-based PCE3 108.768 108.804 108.836 109.046 109.144 10 Market-based PCE excluding food and energy3 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates Personal consumption expenditures (PCE) -0.1 0.1 0.2 0.3 0.1 11 -0.1 0.0 0.3 0.2 0.1 12 Goods 13 Durable goods 0.3 -0.3 -0.4 -0.3 0.1 14 Nondurable goods -0.2 0.1 0.6 0.5 0.1 -0.1 0.1 0.2 0.4 0.1 15 Services Addenda: 16 PCE excluding food and energy 0.0 0.0 0.1 0.2 0.1 0.2 0.5 0.2 -0.3 0.3 17 Food1 -3.2 0.5 3.6 2.9 -0.6 18 Energy goods and services2 0.1 0.1 0.2 0.3 0.1 19 Market-based PCE3 0.2 0.0 0.0 0.2 0.1 20 Market-based PCE excluding food and energy3 Line Juner Julyr Aug.p 109.653 94.903 86.953 99.115 117.364 109.914 95.056 86.575 99.580 117.684 109.950 94.799 86.394 99.278 117.885 1 2 3 4 5 111.648 104.545 85.811 107.467 109.386 111.882 104.483 87.025 107.718 109.604 112.039 104.299 85.309 107.670 109.680 6 7 8 9 10 0.1 -0.1 0.5 -0.4 0.2 0.2 0.2 -0.4 0.5 0.3 0.0 -0.3 -0.2 -0.3 0.2 11 12 13 14 15 0.3 -0.1 -2.3 0.1 0.2 0.2 -0.1 1.4 0.2 0.2 0.1 -0.2 -2.0 0.0 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. Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago Line Jan. 1 Disposable personal income 2 Personal consumption expenditures 3 Goods 4 Durable goods 5 Nondurable goods 6 Services Feb. 3.2 2.4 3.0 3.0 3.0 2.2 3.4 2.3 2.1 1.7 2.4 2.4 March 3.3 2.8 3.9 5.0 3.3 2.3 2019 Mayr Aprilr 3.2 3.3 2.7 2.6 3.8 3.4 4.1 4.6 3.7 2.8 2.2 2.3 Juner 3.2 2.6 4.1 4.6 3.9 1.9 Julyr 3.0 2.5 4.3 5.5 3.7 1.7 Aug.p 3.0 2.3 4.3 5.6 3.6 1.4 Line 1 2 3 4 5 6 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis September 27, 2019 Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago Line Personal consumption expenditures (PCE) 1 2 Goods 3 Durable goods 4 Nondurable goods 5 Services Addenda: 6 PCE excluding food and energy 7 Food1 8 Energy goods and services2 9 Market-based PCE3 10 Market-based PCE excluding food and energy3 2019 Jan. Feb. 1.4 -0.8 -1.1 -0.7 2.5 1.3 -0.8 -1.0 -0.8 2.3 March 1.4 -0.3 -1.3 0.1 2.2 1.8 0.8 -5.1 1.4 1.8 1.6 1.3 -5.1 1.3 1.6 1.5 1.4 -0.3 1.4 1.5 Aprilr 1.5 -0.4 -1.5 0.3 2.4 1.6 0.8 1.7 1.4 1.5 Mayr 1.4 -0.4 -1.2 0.0 2.2 Juner 1.4 -0.6 -0.5 -0.6 2.3 1.5 1.3 -0.4 1.3 1.4 1.6 1.1 -3.4 1.3 1.5 Julyr 1.4 -0.5 -1.2 -0.1 2.3 Aug.p 1.4 -0.5 -1.1 -0.2 2.3 1.7 0.9 -2.0 1.3 1.6 1.8 0.8 -4.4 1.3 1.7 Line 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. Source: U.S. Bureau of Economic Analysis 1 2 3 4 5 6 7 8 9 10
@FedFRASER