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SBEA NEWS RELEASE B U R E A U O F E C O N O M IC A N A L Y SIS U .S. D E P A R T M E N T O F C O M M E R C E E M B A R G O E D U N T I L R E L E A S E A T 8 : 3 0 A .M . E S T , M O N D A Y , J A N U A R Y 3 0 ,2 0 0 6 J a m e s E . R a n k in : (2 0 2 ) 6 0 6 -5 3 0 1 (P e r so n a l I n c o m e ) M ic h a e l A rm a h : (2 0 2 ) 6 0 6 -5 3 0 2 (P e r s o n a l O u tla y s ) B E A 0 6 -0 3 P E R S O N A L IN C O M E A N D O U T L A Y S : D E C E M B E R 2005 P e r s o n a l in c o m e in c r e a s e d $ 4 1 .1 b illio n , o r 0 .4 p e r c e n t, a n d d is p o s a b le p e r s o n a l in c o m e (D P I ) in c r e a s e d $ 3 5 .5 b illio n , o r 0 .4 p e r c e n t, in D e c e m b e r , a c c o r d in g t o th e B u r e a u o f E c o n o m ic A n a ly s is . P e r s o n a l c o n s u m p tio n e x p e n d itu r e s (P C E ) in c r e a s e d $ 8 0 .2 b illio n , o r 0 .9 p e r c e n t. In N o v e m b e r , p e r s o n a l in c o m e in c r e a s e d $ 4 4 .6 b illio n , o r 0 .4 p e r c e n t, D P I in c r e a s e d $ 3 9 .0 b illio n , o r 0 .4 p e r c e n t, a n d P C E in c r e a s e d $ 4 8 .6 b illio n , o r 0 .5 p e r c e n t, b a s e d o n r e v is e d e s tim a t e s . ___________________________ 2 0 0 5 _________________________ A ug. S e p t. O ct. N ov. D ec. (P e r c e n t c h a n g e f r o m p r e c e d in g m o n th ) P e r s o n a l in c o m e , c u r r e n t d o lla r s - 2 .1 3 .0 0 .6 0 .4 0 .4 D is p o s a b le p e r so n a l in c o m e : C u r r e n t d o lla r s - 2 .4 3 .4 0 .5 0 .4 0 .4 C h a in e d ( 2 0 0 0 ) d o lla r s -2 .8 2 .4 0 .4 0 .8 0 .4 C u r r e n t d o lla r s - 0 .4 0 .4 0.1 0 .5 0 .9 C h a in e d ( 2 0 0 0 ) d o lla r s - 0 .9 - 0 .5 0 .0 0 .9 0 .9 P e r s o n a l c o n s u m p t io n e x p e n d itu r e s : N O T E . —M o n t h l y e s t i m a t e s a r e e x p r e s s e d a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , u n l e s s o t h e r w i s e s p e c i f i e d . M o n t h -t o - m o n t h d o lla r c h a n g e s a re d iff e r e n c e s b e t w e e n t h e s e p u b lis h e d e s tim a t e s . M o n th -to -m o n th p e r c e n t c h a n g e s are c a lc u la t e d f r o m u n r o u n d e d d a ta a n d are n o t a n n u a liz e d . “ R e a l” e s t im a t e s a r e in c h a in e d ( 2 0 0 0 ) d o lla r s . T h is n e w s r e le a s e is a v a ila b le o n B E A 's W e b s it e a t w w w .b e a .g o v /b e a /r e ls .h t m . -m o r e - - 2 - W a g e s a n d s a la r ie s P r iv a te w a g e a n d s a la r y d is b u r s e m e n t s in c r e a s e d $ 1 4 .6 b i ll io n in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f $ 1 6 .0 b illio n in N o v e m b e r . G o o d s -p r o d u c in g in d u s tr ie s ' p a y r o lls in c r e a s e d $ 1 .8 b illio n , c o m p a r e d w it h an in c r e a s e o f $ 1 .2 b illio n ; m a n u fa c tu r in g p a y r o lls in c r e a s e d $ 0 .5 b illio n , in c o n tr a s t to a d e c r e a s e o f $ 1 .0 b illio n . S e r v ic e s -p r o d u c in g in d u s tr ie s ' p a y r o lls in c r e a s e d $ 1 2 .9 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 1 4 .7 b illio n . G o v e r n m e n t w a g e a n d s a la r y d is b u r s e m e n t s in c r e a s e d $ 1 .7 b illio n , c o m p a r e d w it h a n in c r e a s e o f $ 1 .8 b illio n . D isp o sab le Personal Incom e and P ersonal O u tlays J a n u a ry 2001 throu gh D ec e m b e r 2005 (B illio n s o f d o lla rs ; s e a s o n a lly a d ju s te d a t a n n u a l rate s) -m o r e - -3 - O th e r p e r s o n a l in co m e S u p p le m e n ts to w a g e s a n d s a la r ie s in c r e a s e d $ 3 .6 b illio n in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f $ 4 .0 b illio n in N o v e m b e r . P r o p r ie to r s ' in c o m e in c r e a s e d $ 1 .1 b i ll io n in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f $ 5 .6 b illio n in N o v e m b e r . N ovem ber. F a r m p r o p r ie to r s ' in c o m e in c r e a s e d $ 0 .3 b ill io n , t h e s a m e in c r e a s e a s in N o n f a r m p r o p r ie to r s ' i n c o m e in c r e a s e d $ 0 .8 b ill io n , c o m p a r e d w it h a n in c r e a s e o f $ 5 .3 b illio n . R e n ta l in c o m e o f p e r s o n s d e c r e a s e d $ 3 .5 b illio n in D e c e m b e r , in c o n tr a s t t o a n in c r e a s e o f $ 3 .6 b illio n in N o v e m b e r . P e r s o n a l in c o m e r e c e ip ts o n a s s e ts ( p e r s o n a l in te r e s t in c o m e p lu s p e r s o n a l d iv id e n d in c o m e ) in c r e a s e d $ 1 6 .7 b illio n , th e s a m e in c r e a s e a s in N o v e m b e r . P e r s o n a l c u r r e n t tr a n sfe r r e c e ip ts in c r e a s e d $ 8 .3 b illio n in D e c e m b e r , in c o n tr a st t o a d e c r e a s e o f $ 1 .0 b illio n in N o v e m b e r . T h e D e c e m b e r in c r e a s e in p e r s o n a l c u r r e n t tr a n sfe r r e c e ip ts r e f le c t e d r e tr o a c tiv e s o c ia l s e c u r ity b e n e f it p a y m e n ts o f $ 6 .5 b illio n a t a n a n n u a l r a te , r e s u ltin g f r o m a r e c a lc u la t io n o f th e e a r n in g s b a s e u n d e r ly in g th e b e n e f it s f o r r e c e n t r e tir e e s . C o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e — a s u b tr a c tio n in c a lc u la t in g p e r s o n a l in c o m e — in c r e a s e d $ 1 .5 b illio n in D e c e m b e r , c o m p a r e d w ith a n in c r e a s e o f $ 1 .9 b illio n in N o v e m b e r . P e r so n a l c u r r e n t ta x e s a n d d is p o s a b le p e r s o n a l in co m e P e r s o n a l c u r r e n t ta x e s in c r e a s e d $ 5 .4 b illio n in D e c e m b e r , c o m p a r e d w ith a n in c r e a s e o f $ 5 .7 b illio n in N o v e m b e r . D is p o s a b le p e r so n a l in c o m e (D P I) — p e r s o n a l in c o m e le s s p e r so n a l cu rren t t a x e s — in c r e a s e d $ 3 5 .5 b illio n , o r 0 .4 p e r c e n t, in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f $ 3 9 .0 b illio n , o r 0 .4 p e r c e n t, in N o v e m b e r . -m o r e - - 4 - P e r s o n a l o u tla y s a n d p e r s o n a l sa v in g P e r s o n a l o u tla y s ~ P C E , p e r s o n a l in te r e s t p a y m e n ts , a n d p e r s o n a l cu r r en t tr a n sfe r p a y m e n ts in c r e a s e d $ 8 1 .3 b illio n in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f $ 4 9 .8 b illio n in N o v e m b e r . PCE in c r e a s e d $ 8 0 .2 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 4 8 .6 b illio n . P e r s o n a l s a v in g - D P I le s s p e r s o n a l o u tla y s - w a s a n e g a t iv e $ 6 7 .4 b illio n in D e c e m b e r , c o m p a r e d w ith a n e g a t iv e $ 2 1 .6 b illio n in N o v e m b e r . P e r s o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l i n c o m e w a s a n e g a t iv e 0 .7 p e r c e n t in D e c e m b e r , c o m p a r e d w it h a n e g a t iv e 0 .2 p e r c e n t in N ovem ber. in c o m e . N e g a t iv e p e r s o n a l s a v in g r e fle c t s p e r s o n a l o u tla y s th a t e x c e e d d is p o s a b le p e r s o n a l S a v in g f r o m c u r r e n t in c o m e m a y b e n e a r z e r o o r n e g a t iv e w h e n o u tla y s a re fin a n c e d b y b o r r o w in g ( in c lu d in g b o r r o w in g f in a n c e d th r o u g h c r e d it c a r d s o r h o m e e q u ity lo a n s ) , b y s e llin g in v e s t m e n ts o r o th e r a s s e t s , o r b y u s in g s a v in g s f r o m p r e v io u s p e r io d s . F o r m o r e in fo r m a tio n , s e e t h e F A Q s o n “ P e r s o n a l S a v i n g ” o n B E A ’s W e b s it e . R eal D P I and real P C E R eal D P I ~ D P I a d ju s te d to r e m o v e p r ic e c h a n g e s - in c r e a s e d 0 .4 p e r c e n t in D e c e m b e r , c o m p a r e d w ith a n in c r e a s e o f 0 .8 p e r c e n t in N o v e m b e r . R eal PC E - P C E a d ju s te d to r e m o v e p r ic e c h a n g e s - s a m e in c r e a s e a s in N o v e m b e r . in c r e a s e o f 3 .7 p e r c e n t. in c r e a s e d 0 .9 p e r c e n t in D e c e m b e r , th e P u r c h a s e s o f d u r a b le g o o d s in c r e a s e d 5 .0 p e r c e n t, c o m p a r e d w it h a n P u r c h a s e s o f m o to r v e h ic le s a n d p a r ts a c c o u n t e d fo r m o s t o f th e in c r e a s e s in D e c e m b e r a n d in N o v e m b e r . P u r c h a s e s o f n o n d u r a b le g o o d s in c r e a s e d 0 .4 p e r c e n t in D e c e m b e r , c o m p a r e d w it h a n in c r e a s e o f 0 .9 p e r c e n t in N o v e m b e r . P u r c h a s e s o f s e r v ic e s in c r e a s e d 0 .4 p e r c e n t, th e s a m e in c r e a s e a s in N o v e m b e r . 2005 P er so n a l In co m e a n d O u tla y s P e r s o n a l in c o m e in c r e a s e d 5 .4 p e r c e n t in 2 0 0 5 (th a t is , f r o m t h e 2 0 0 4 a n n u a l le v e l to th e 2 0 0 5 a n n u a l le v e l) , c o m p a r e d w it h a n in c r e a s e o f 5 .9 p e r c e n t in 2 0 0 4 . c o m p a r e d w it h a n in c r e a s e o f 6 .1 p e r c e n t. D P I in c r e a s e d 4 .2 p e r c e n t, P C E in c r e a s e d 6 .5 p e r c e n t, th e s a m e in c r e a s e a s in 2 0 0 4 . R e a l D P I in c r e a s e d 1 .4 p e r c e n t in 2 0 0 5 , c o m p a r e d w it h a n in c r e a s e o f 3 .4 p e r c e n t in 2 0 0 4 . R e a l P C E in c r e a s e d 3 .6 p e r c e n t, c o m p a r e d w ith a n in c r e a s e o f 3 .9 p e r c e n t. -m o r e - - 5 - R e v is io n s E s tim a te s h a v e b e e n r e v is e d fo r O c to b e r a n d N o v e m b e r . C h a n g e s in p e r s o n a l in c o m e , c u r r e n t- d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r D P I , a n d c u r r e n t-d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r P C E f o r O c to b e r a n d N o v e m b e r — r e v is e d a n d a s p u b lis h e d in la s t m o n th 's r e le a s e — a r e s h o w n b e lo w . R e v is io n s fo r O c t o b e r r e f le c t r e v is e d e s tim a t e s o f th e d a m a g e a n d in s u r a n c e s e t t le m e n t s f r o m H u r r ic a n e W ilm a . F o r m o r e in f o r m a t io n o n t h e s e e s t im a t e s , s e e t h e H u r r ic a n e K a tr in a F A Q s o n “W h a t a re t h e e f f e c t s o f H u r r i c a n e s K a t r in a , R it a , a n d W i l m a o n M o n t h l y P e r s o n a l I n c o m e ? ” o n B E A ’s W e b s it e . C h a n g e f r o m p r e c e d in g m o n th O cto b e r P r e v io u s R e v is e d N ovem ber P r e v io u s ( B i l l i o n s o f d o lla r s ) R e v is e d (P e r c e n t) P r e v io u s R e v is e d ( B i l l i o n s o f d o lla r s ) P r e v io u s R e v is e d (P e r c e n t) Personal Income: Current dollars..................... 53.5 59.6 0.5 0.6 29.8 44.6 0.3 0.4 Current dollars..................... 40.0 48.9 0.4 0.5 25.1 39.0 0.3 0.4 Chained (2000) dollars........ 26.2 32.5 0.3 0.4 57.4 64.7 0.7 0.8 Current dollars..................... 13.4 13.0 0.2 0.1 25.3 48.6 0.3 0.5 Chained (2000) dollars........ 2.9 0.9 0.0 0.0 56.4 72.2 0.7 0.9 Disposable personal income: Personal consumption expenditures: -m o re- - 6 - B E A ’s n a t io n a l, in te r n a t io n a l, r e g io n a l, a n d in d u s t r y e s t im a t e s ; t h e S u r v e y o f C u r r e n t B u s in e s s ; a n d B E A n e w s r e le a s e s a r e a v a ila b le w ith o u t c h a r g e o n B E A ’s W e b s it e a t w w w .b e a .g o v . B y v is it in g th e s ite , y o u c a n a ls o s u b s c r ib e to r e c e iv e f r e e e - m a il s u m m a r ie s o f B E A r e le a s e s a n d a n n o u n cem en ts. * * N e x t r e le a s e ~ * P e r s o n a l I n c o m e a n d O u tla y s fo r J a n u a r y w i l l b e r e le a s e d o n M a r c h 1, 2 0 0 6 , a t 8 :3 0 A .M . E S T . R elea se d ates in 2 0 0 6 D e c e m b e r 2 0 0 5 .. January 3 0 A p r il 2 0 0 6 .... M a y 2 6 A u g u s t 2 0 0 6 ........... S e p te m b e r 2 9 J a n u a r y 2 0 0 6 ....... M arch 1 M a y 2 0 0 6 ...... June 30 S e p te m b e r 2 0 0 6 ... O cto b e r 3 0 F e b r u a r y 2 0 0 6 .... M arch 31 J u n e 2 0 0 6 ...... A u gu st 1 O c t o b e r 2 0 0 6 ........ N ovem ber 30 M a r c h 2 0 0 6 .......... M ay 1 J u l y 2 0 0 6 ....... A u gu st 31 N o v e m b e r 2 0 0 6 ... D ecem b er 22 -m o r e - T a b le 1.— P e rso n al In c o m e an d Its D is p o s itio n (M o n th s ) [Billions of dollars] Seasonally adjusted at annual rates 2005 May P e rs o n a l in c o m e ................................... C o m p e n s a tio n o f e m p lo y e e s , re c e iv e d W a g e a n d s a la ry d is b u r s e m e n ts .......... ................................. Private Industries ...................................... Goods-produclng In d us trie s ............................ M anu fac turin g..................................................... Services-producing Industries ................................ Trade, transportation, and u tilitie s ................................................ Other services-producing industries ........................... G o v e rn m e nt................................................... S u p p le m e n ts to w a g e s a n d s a la rie s ................................... Employer contributions for employee pension and insurance fu n d s ...... Employer contributions for government social Ins u ra n ce ..................... P r o p r ie to r s ’ in c o m e w ith in v e n to ry v a lu a tio n a n d c a p ita l c o n s u m p tio n a d j u s t m e n t s ................................................................ Farm ................................................... N o n fa rm ................................................................. R e n ta l in c o m e o f p e r s o n s w ith c a p it a l c o n s u m p tio n a d j u s t m e n t ............. P e rs o n a l in c o m e re c e ip ts o n a s s e ts .......................................... Personal interest income ............................................. Personal dividend In c o m e ........................................... P e rs o n a l c u r r e n t t r a n s fe r r e c e i p t s ............................................. Government social benefits to p e rs o n s ..................................... Old-age, survivors, disability, and health insurance b e n e fits ................. Government unemployment insurance benefits ..................................... Other .......................................................... Other current transfer receipts, from business (net) ................................. L e s s : C o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u ra n c e ................................. L e s s : P e rs o n a l c u r re n t t a x e s ................................................................. E q u a ls : D is p o s a b le p e r s o n a l in c o m e June July Aug. Sep. O c t.'- N o v.r Dec. n 1 0 ,1 8 0 .6 1 0 ,2 3 1 .5 1 0 ,2 7 4 .7 1 0 ,0 5 8 .7 1 0 ,3 5 9 .6 1 0 ,4 1 9 .2 1 0 ,4 6 3 .8 1 0 ,5 0 4 .9 7 ,0 5 8 .8 7 ,0 8 6 .1 7 ,1 3 9 .9 7 ,1 4 7 .6 7 ,1 7 8 .7 7 ,2 1 6 .2 7 ,2 3 7 .9 7 ,2 5 7 .8 5 ,6 7 1 .1 5 ,6 9 5 .7 5 ,7 3 4 .4 5 ,7 3 4 .1 4,703.6 1,106.8 715.1 3,596.8 950.9 2,645.9 967.5 5 ,7 5 6 .3 5 ,7 8 6 .4 4,727.4 1 , 1 1 1 .8 717.5 3,615.6 955.9 2,659.7 968.4 5 ,8 0 4.1 4,762.8 1,117.0 720.5 3,645.8 964.2 2,681.7 971.6 4,759.5 1 , 1 2 0 .1 721.8 3,639.4 960.2 2,679.2 974.6 5 ,8 2 0 .4 4,777.4 1,119.9 720.0 3,657.5 961.4 2,696.1 978.9 4,806.5 1,131.0 729.2 3,675.6 965.3 2,710.3 979.8 4,822 5 L132.2 728 2 3,590.3 967.0 2,723.2 981.6 4837 1 1,134.0 728 7 3,703 2 970 4 2,732.7 983.3 1 ,3 8 7 .7 1 ,3 9 0 .4 1 ,4 0 5 .5 1 ,4 1 3 .5 1 ,4 2 2 .4 964.4 423.4 1 ,4 2 9 .8 965.6 424.8 1 ,4 3 3 .8 1 ,4 3 7 .4 978.5 427.0 987.0 426.5 994.8 427.6 1,000.5 429.3 1*003.7 430.1 l ’ 006 8 9 3 3 .5 9 4 5 .7 9 4 7 .3 8 9 1 .4 9 5 8 .4 19.7 913.8 960.1 15.8 929.9 9 6 5 .7 19.0 928.2 17.4 874.1 17.7 940.7 9 6 6 .8 17.6 942.5 17.9 947.8 18.2 948.6 430.6 104.1 9 9 .7 9 6 .5 -2 1 3 .4 8 3 .6 8 3 .3 8 6 .9 8 3 .4 1 ,4 3 9 .7 1 ,4 5 2 .8 1 ,4 6 0 .9 1 ,4 6 8 .8 1 ,4 7 6 .9 1 ,4 9 3 .6 936.0 503.8 944.9 507.9 1 ,5 1 0 .3 948.1 512.8 951.2 517.6 1 ,5 2 7 .0 954.4 522.5 965.9 527.7 977.5 532.9 989 0 538.0 1 ,5 0 9.1 1 ,5 1 4 .8 1 ,5 0 2 .4 1 ,6 3 5 .9 1 ,5 3 6 .0 1,479.8 842.2 27.7 609.9 29.2 1 ,5 4 3 .4 1 ,5 4 2 ,4 1 ,5 5 0 .7 1,485.5 845.6 28.1 611.8 29.3 1,473.1 847.3 27.9 597.9 29.3 1,478.1 851.2 27.6 599.3 157.8 1,498.5 851.9 30.0 616.5 37.5 1,503.1 855.7 30.7 616.6 40.4 1,512.9 857 1 29.6 626.2 29.5 1,521 2 867 8 28.8 624 7 29.5 8 6 4 .7 8 6 7 .6 8 7 2 .2 8 7 1 .6 8 7 3 .9 8 7 7 .5 8 7 9 .4 8 8 0 .9 1 ,2 0 6 .0 1,2 16.1 1 ,2 1 5 .0 1 ,2 1 4 .6 1,2 18.1 1 ,2 2 8 .7 1 ,2 3 4 .4 1 ,2 3 9 .8 9 ,2 6 5 .0 ...................................................................... 8 ,9 7 4 .6 9 ,0 1 5 .4 9 ,0 5 9 .6 8 ,8 4 4 .0 9 ,1 4 1 .6 9 ,1 9 0 .5 9 ,2 2 9 .5 ................................................................................................ 8 ,9 7 1 .4 9 ,0 6 5 .4 9 ,1 8 6 .8 9 ,1 4 9 .1 9 ,1 8 5 .9 9 ,2 0 1 .3 9,2 5 1.1 9 ,3 3 2 .4 Personal consumption expenditures ...................... Durable goods ........................................................... Nondurable g o o d s ............................................ S e rv ic e s .......................................................... Personal Interest paym ents 1 .................................... Personal current transfer p a y m e n ts ............................................................. To government ............................................................ To the rest of the world ( n e t ) .................................................. 8,647.2 1,008.9 2,525.1 5,113.2 205.3 118.8 74.0 44.9 8,737.3 1,051.2 2,546.8 5,139.2 208.8 119.3 74.4 44.9 8,858.0 1,130.0 2,566.9 5,161.2 209.5 119.4 75.0 44.4 8,819.1 1,031.7 2,603.6 5,183.8 8,867.8 960.4 2,658.1 5,249.3 211.4 8,916.4 994.4 2,632.0 5,290.0 119.8 75.4 44.4 8,854.8 990.9 2,644.1 5,219.8 210.7 120.4 76.0 44.4 1 2 2 .2 76.4 45.7 122.7 77.0 45.7 8,996.6 1,042.2 2,636.0 5,318.4 212 7 123.2 77 5 45.7 E q u a ls : P e rs o n a l s a v i n g ........................................................................................... 3 .2 -5 0 .0 -1 2 7 .2 -3 0 5 .0 -4 4 .4 -1 0 .8 -2 1 .6 -6 7 .4 -.6 -1 .4 -3 .4 -.5 -.1 -.2 -.7 8,097.1 8,133.0 8,148.8 7,921.5 8,111.3 8,143.8 8,208.5 8,241.7 30,281 27,320 296,381 30,393 27,418 296,626 30,516 27,448 296,884 29,762 26,658 297,156 30,736 27,272 297,427 30,873 27,357 297,686 30,978 27,551 297,938 31,072 27,640 29 8 J7 7 L e s s : P e rs o n a l o u tla y s P e rs o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l i n c o m e ........... 0 2 1 0 .1 2 1 2 .1 A ddenda: Disposable personal Income: Total, billions of chained (2000) d olla rs 2 .................................................. Per capita: Current dollars ........................................................... Chained (2000) dollars .......................................................................... Population (midperiod, thousands ) 3 ................................................ r P r el , ™ ; a r V 3 Po p u l a t i o n i s t h e t ot al p o p u l a t i o n o l t h e U n i t e d St a t e s, H e v t se d 1 . C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2. Eq u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i ci t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. t t on al i ze d p o p u l a t i o n . in cl ud in g t he A i m e d The F o r c e s o v e r s e a s a n d t h e i n sl i t u - m o n t h l y e st i m a t e i s t h e a v e r a g e o f e st i m a t e s f or t he f i r st o f t h e m o n t h a n d t h e f o l l o w i n g m o n t h ; t h e a n n u a l a n d q u a r t e r l y e st i m a t e s a r e a v e r a g e s o f t he m o n t h l y e st i m a t e s. t h e f i r st o ( T a b le 2 — P ers o n a l In c o m e an d Its D is p o s itio n (Y e a rs and Q u arters) [Billions of dollars] Seasonally adjusted at annual rates 2004 2005 2004 III P e rs o n a l in c o m e ....................................................... C o m p e n s a tio n o f e m p lo y e e s , re c e iv e d W a g e a n d s a la r y d is b u r s e m e n ts ........ ............... Private industries .................................... Goods-producing in d u s trie s ................ M anu fa ctu rin g ................................. Services-producing industries ............. Trade, transportation, and utilities ... Other services-producing industries G o v e rn m e n t........................................... S u p p le m e n ts to w a g e s a n d s a l a r i e s ............................................................ Employer contributions for employee pension and insurance funds 1 !! Employer contributions fo r government social in s u ra n c e ..................... . 2005 IV II 1 III IV 9 .7 1 3 .3 2 9 ,7 2 9 .2 1 0 ,0 2 4 .8 1 0 ,0 73 .4 1 0 ,1 8 5 .7 1 0 ,2 3 1 .0 1 0 ,4 6 2 .6 6 ,6 8 7 .6 3 6 ,7 2 4 .2 6 ,8 9 5 .8 7 ,0 0 1 .7 7 ,0 6 0 .2 7 ,1 5 5 .4 7 ,2 3 7 .3 5 .3 8 9 .4 3 5 ,4 2 2 .0 4.450.0 1,049.9 687.7 3.400.1 899.7 2.500.4 939.5 5 ,5 6 2 .9 5 ,6 2 9 .9 t 4,479.2 1,062.3 696.1 3,416.8 906.3 2,510.5 942.8 5 ,6 7 2 .3 4,612.9 1,083.0 707.8 3,529.9 931.1 2,598.8 950.0 5 ,7 4 1 .6 4,668.1 1,099.2 715.3 3,568.8 937.8 2,631.0 961.8 5 ,8 0 3 .6 4,705.0 1,107.2 715.5 3,597.9 951.1 2,646.8 967.3 4,766.6 1,119.0 720.8 3,647.6 961.9 2,685.6 975.0 4,822.0 1,132.4 728.7 3,689.7 967.6 2,722.1 981.6 1.2 98.1 1 ,3 0 2 .3 895.5 402.7 1 ,3 3 2 .9 1 ,3 7 1 .8 897.9 404.4 1 ,3 8 7 .9 919.6 413.4 1 ,4 1 3 .8 950.0 421.9 964.4 423.5 1 ,4 3 3 .7 986.8 427.0 1,003.7 430.0 8 8 9 .1 9 0 0 .9 917.9 29.7 859.4 9 3 6 .6 24.6 876.3 9 3 2 .4 24.7 893.2 19.6 917.1 9 6 4 .2 18.0 914.3 17.9 946.3 P r o p r ie t o r s ’ in c o m e w ith in v e n to r y v a lu a tio n a n d c a p ita l c o n s u m p tio n a d j u s t m e n t s ........................................................................................................... 8 8 9 .6 Farm .................................................................... Z Z Z Z Z Z Z Z Z Z Z Z N o n fa rm .......................................... 35.8 853.8 20.1 R e n ta l In c o m e o f p e r s o n s w ith c a p ita l c o n s u m p tio n a d j u s t m e n t . 1 3 4 .2 7 3 .9 1 2 2 .1 1 2 8 .7 118 .0 1 0 4 .4 -1 1 .1 8 4 .5 P e r s o n a l in c o m e r e c e ip ts o n a s s e ts ...................................................... 1 .3 9 6 .5 1 ,3 7 8 .2 1 ,4 9 3 .6 905.9 490.6 1 ,4 0 7 .9 1 ,4 3 9 .8 904.7 473.5 1 ,4 6 8 .9 907.4 586.2 915.4 492.5 1 ,5 1 0 .3 936.0 503.8 951.2 517.6 977.5 532.9 1 .4 2 7 .5 1 ,4 4 1 .5 1 ,4 4 9 .2 1.394.5 789.3 36.0 569.2 33.0 1 ,4 8 8 .8 1,397.1 793.7 33.3 570.1 44.4 1 ,5 0 9 .6 1 ,5 5 8.1 1,419.5 805.5 32.4 581.5 29.8 1,459.7 828.0 29.4 602.2 29.1 1 ,5 4 5 .5 1,480.4 842.2 28.0 610.2 29.2 1,483.2 850.1 28.5 604.6 74.8 1,512.4 860.2 29.7 622.5 33.1 Personal interest income .......................................... Z Personal dividend in c o m e ................................... ZZZZZ P ers on al cu rre n t tra n s fe r re c e ip ts .................................................. G overnm ent social benefits to p e rs o n s ........................................... Oid-age, survivors, disability, and health insurance benefits '.."!." G overnm ent unemployment insurance benefits ......................... O ther .......................................................................................... O ther current transfer receipts, from business ( n e t ) .... Z Z Z Z Z ! 845.1 28.9 609.9 41.6 Less: C o n trib u tio n s fo r g o ve rn m e n t so cia l ins u ra n ce .................. 8 2 2 .2 8 6 9 .4 8 2 5 .9 8 4 3 .5 8 61.0 8 6 4 .9 8 7 2 .6 Less: P erso nal cu rre n t taxes ................................................................ 8 7 9 .2 1.0 49.1 1 ,2 0 6 .9 1 ,0 5 8 .4 1 ,0 9 4 .3 1 ,1 7 1 .4 1 ,2 0 6 .0 1 ,2 1 5 .9 1 ,2 3 4 .3 9 ,2 2 8 .3 E quals: D is po sa ble personal inc o m e .................................................. 8 .6 6 4 .2 9 .0 3 1 .3 8 ,6 7 0 .9 8 ,9 3 0 .4 8 ,9 0 2 .0 8 ,9 7 9 .7 9 ,0 1 5.1 Less: P ers on al o u tla y s .......................................................................... 8 .5 1 2 .5 9 .0 7 2 .8 8 ,5 6 6 .3 8 ,7 2 5 .0 8 ,8 5 4.6 9 ,0 0 1 .2 9 ,1 7 3 .9 9 ,2 6 1 .6 Personal consumption expenditures .................................................... Durable g o o d s ............................................................................ ZZ Nondurable g o o d s .............................................. Z Z Z .Z Z Z Z !! Services ................................................................... Z Z Z Z Z Z Z Personal interest pa ym ents 1 ................................... ZZZZZZZZZ! Personal current transfer p a y m e n ts ............................................... To g o v e rn m e n t............................................................................ Z ! To the rest of the world ( n e t ) ................................... Z Z Z Z Z Z Z 8.214.3 987.8 2.368.3 4,858.2 186.7 111.5 68. 6 42.9 8.745.9 1,025.7 2.564.3 5.155.9 206.4 120.5 74.7 45.8 8,263.2 993.8 2,378.4 4,891.0 190.3 8,535.8 1,017.3 2,476.6 5,041.8 198.1 8,926.9 999.0 2,642.0 5,285.9 2 1 0 .1 2 1 2 .1 72.5 48.3 8,677.0 1,035.5 2,533.7 5,107.8 205.3 118.8 73.9 44.9 8,844.0 1,050.9 2,604.9 5,188.3 69.4 43.4 8,416.1 1,008.6 2,437.1 4,970.4 196.2 112.7 71.0 41.7 119.9 75.4 44.4 E quals: P ersonal savin g ........................................................................ 122.7 77.0 45.7 151 .8 -4 1 .6 1 0 4 .6 2 0 5 .4 4 7 .4 -2 1 .5 -1 5 8 .9 -3 3 .3 1.8 - .5 1 .2 2 .3 .5 -.2 -1 .8 -.4 8,004.3 8,114.5 7,993.3 8,169.2 8,098.1 8 , 1 0 2 .6 8,060.8 8,198.0 29,475 27,230 293,951 30,429 27,340 296,798 29,461 27,159 294,315 30,265 27,685 295,077 30,103 27,384 295,720 30,298 27,338 296,383 30,338 27,127 297,155 30,975 27,516 297,933 P ersonal s a v in g as a percentage o f d is p o sa ble perso na l Incom e A ddenda: Disposable personal income: Total, billions of chained (2000) d olla rs 2 ........................................ Per capita: C urrent dollars .................................................................... Chained (2 0 0 0 ) dollars ................................................ ZZZZ.Z! Population (midperiod, thousands) 3 ............................... „ . Z Z Z Z Z 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2 . E q u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i ci t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. 3. Po p u la t i o n i s t h e t ot al p o p u l a t i o n o f t h e U n i t e d Sl a t e s, in cl u d in g t he Ar m e d F o r c e s o v e r se a s a n d t h e i n st i t u t ionalized populat ion. 1 1 2 .8 The 1 2 0 .8 m o n t h l y e st i m a t e i s t h e a v e r a g e o f e st i m a t e s f o r t he f i r st o f t h e m o n t h a n d t h e f o l l o w i n g m o n t h ; t h e a n n u a l a n d q u a r t e r l y e st i m a t e s a r e a v e r a g e s o f t h e m o n t h l y e st i m a t e s. t he f i r st o f T a b le 3.— P e rso n al In co m e and Its D is p o s itio n , C h a n g e fro m P reced in g P erio d (M o n th s) [Billions of dollars] Seasonally adjusted at annual rates 2005 May P e rs o n a l in c o m e ............................................................... June July Aug. Sep. O c t.r N ov.'' Dec.p 3 5 .5 5 0 .9 4 3 .2 -2 1 6 .0 3 0 0 .9 59 .6 4 4 .6 41.1 .............................................................. 2 3 .2 2 7 .3 5 3 .8 7 .7 31.1 3 7 .5 2 1 .7 1 9 .9 .................................................................... 2 1 .0 2 4 .6 3 8 .7 -.3 22 .2 30.1 17 .7 19.4 3.9 16 .3 35.4 5.2 3.0 30.2 8.3 29.1 16.0 146 - .2 11.1 1.2 1 8 - 1.8 18.1 16.9 4.3 9.2 18.1 3.9 14.2 .9 - 1 .0 14.7 1.7 12.9 3.2 -3 .3 3.1 1.3 -6 .4 -4 .0 -2 .5 3.0 17.9 11.1 1 .6 23.8 5.0 2.4 18.8 5.0 13.8 .9 1.8 .5 129 3.4 9.5 1.7 S u p p le m e n ts to w a g e s a n d s a la rie s .............................................................. 2 .2 2 .7 15.1 8 .0 Employer contributions for employee pension and insurance fu n d s ...... Employer contributions for government social in su ra n c e ....................... 8.9 7 .4 4 .0 3 .6 1 .2 1.1 1.2 12.9 5.7 1.7 3.2 2 .2 8.5 -.5 7.8 1.4 .8 3.1 .5 C o m p e n s a tio n o f e m p lo y e e s , r e c e iv e d W a g e a n d s a la ry d is b u r s e m e n ts Private industries .................................................... Goods-producing in d u s trie s............................................................... M an ufa ctu ring .......................................................................... Services-produclng industries ........................................................... Trade, transportation, and u tilitie s ................................................. Other services-produclng industries .............................................. G o v e rn m e nt............................................................ 1 .2 15.6 4.5 2 2 .0 1.2 1.1 P r o p r ie to r s ’ in c o m e w ith in v e n to ry v a lu a tio n a n d c a p it a l c o n s u m p tio n a d j u s t m e n t s ............................................................................................... Farm ......................................................................................................... N o n fa rm .................................................................................................... 2 .7 1 2 .2 1 .6 -5 5 .9 67.0 1 .7 -3 .5 6.3 5 .6 1.1 -3 .9 16.1 3.2 -1 .7 - 1.6 -54.1 .3 6 6 .6 - .1 1.8 .3 5.3 .8 R e n ta l in c o m e o f p e r s o n s w ith c a p it a l c o n s u m p tio n a d j u s t m e n t ............. -5 .3 -4 .4 - 3 .2 -3 0 9 .9 2 9 7 .0 -.3 3 .6 -3 .5 P e rs o n a l in c o m e re c e ip ts o n a s s e ts .................................................................. 1 2 .9 13.1 8.1 7 .9 Personal interest income ........................................................................... Personal dividend in c o m e .......................................................................... 8.1 16 .7 16 .7 16 .7 9.0 4.0 8.9 4.1 3.2 4.9 3.1 4.8 3.2 4.9 11.5 5.2 1 1 .6 5.2 11.5 5.1 P e rs o n a l c u r re n t tr a n s fe r r e c e i p t s ...................................................................... 4 .2 5 .7 -1 2 .4 1 3 3 .5 Government social benefits to p e rs o n s ...................................................... Old-age, survivors, disability, and health insurance b e n e fits ................. Government unemployment insurance benefits .................................... Other .................................................................................................... Other current transfer receipts, from business (net) ................................. -9 9 .9 7 .4 -1 .0 8.3 4.1 3.4 - .4 5.7 3.4 .4 1.9 -1 2 .4 1.7 5.0 3.9 - .3 1.4 128.5 20.4 .7 2.4 17.2 -120.3 4.6 3.8 .7 9.8 1.4 8.3 10.7 -1 .5 2.9 - 1.1 9.6 -10.9 2.3 3 .6 1.9 1.5 L e s s : C o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u ra n c e 1.1 0 .1 -.2 -1 3 .9 0 .1 .3 -.8 0 ................................. 2 .3 2 .9 4 .6 L e s s : P e rs o n a l c u r re n t ta x e s ..................................................................................... 9 .9 10.1 - 1 .1 -.4 3 .5 10 .6 5 .7 5.4 ..................................................................... 2 5 .6 4 0 .8 4 4 .2 -2 1 5 .6 2 9 7 .6 4 8 .9 3 9 .0 3 5 .5 ................................................................................................ 4 .7 9 4 .0 1 2 1 .4 -3 7 .7 36 .8 15 .4 49 .8 8 1 .3 Personal consumption expenditures .............................................................. Durable g o o d s .......................................................................................... Nondurable g o o d s ..................................................................................... S e rv ic e s .................................................................................................... Personal interest paym ents 1 ......................................................................... Personal current transfer p a ym e n ts ............................................................... To government ............................................................................. To the rest of the world (net) .................................................................... .6 90.1 42.3 21.7 26.0 3.5 .5 .4 120.7 78.8 -38.9 -98.3 36.7 35.7 -40.8 40.5 36.0 13.0 -30.5 14.0 29.5 .7 80.2 47.8 4.0 28.4 1 .8 48.6 34.0 -26.1 40.7 .7 .5 .4 1.3 .6 0 E q u a ls : D is p o s a b le p e rs o n a l in c o m e L e s s : P e rs o n a l o u tla y s -3 7 .5 -4.1 42.2 3.5 .5 E q u a ls : P e rs o n a l s a v in g ............................................................................................. .6 0 0 2 0 .1 2 2 .0 -.6 .7 2 2 .6 .6 .1 .6 .4 .4 - .5 0 .6 .6 .6 0 .6 .5 .5 0 2 0 .9 -5 3 .2 -7 7 .2 -1 7 7 .8 2 6 0 .6 3 3 .6 -1 0 .8 -4 5 .8 19.2 35.9 15.8 -227.3 189.8 32.5 64.7 33.2 Addendum : Real disposable personal income, billions of chained (2000) dollars 2 .......... p Pr e l i m i n a r y r R e v i se d 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2 . E q u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t he i m p l i ci t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. T a b le 4 .- P e r s o n a l In c o m e an d Its D isp o sitio n , C h a n g e fro m P rec ed in g P eriod (Y e a rs an d Q u a rters ) [Billions o f dollars] Seasonally adjusted at annual rates 2004 2005 2 304 III P e rs o n a l in c o m e ....................................................... C o m p e n s a tio n o f e m p lo y e e s , r e c e iv e d W a g e a n d s a la ry d is b u r s e m e n ts ........ ............... Private industries .................................... Goods-producing in d u s trie s ................. M an u fa ctu rin g ................................. Services-producing industries ............. Trade, transportation, and utilities ... Other services-producing industries G o ve rn m e n t............................... S u p p le m e n ts to w a g e s a n d s a la r ie s ............................................................. Employer contributions for employee pension and insurance fu n d s .... Employer contributions for governm ent social in s u ra n c e ..................... . P r o p r ie to r s ’ In c o m e w ith in v e n to r y v a lu a tio n a n d c a p ita l c o n s u m p tio n a d j u s t m e n t s .......................................................................................... 2005 IV II 1 III IV 5 4 4 .2 1 1 4 .9 2 9 5 .6 4 8 .6 1 1 2 .3 4 5 .3 3 6 6 .5 1 2 0 .6 1 7 1 .6 1 0 5 .9 5 8 .5 9 5 .2 8 1 .9 2 7 8 .3 1 0 3 .9 242.2 42.7 19.0 199.5 41.1 158.4 36.2 1 4 0 .9 6 7 .0 98.9 26.7 18.5 72.0 16.8 55.2 5.1 4 2 .4 133.7 20.7 11.7 113.1 24.8 88.3 7.2 6 9 .3 55.2 16.2 7.5 38.9 6.7 32.2 6 2 .0 36.9 61.6 8 .0 1 1 .8 .2 5.3 49.7 1 1 .8 29.1 13.3 15.8 5.5 55.4 13.4 7.9 42.1 5.7 36.5 88.1 1 6 .8 65.5 22.7 3 0 .6 10.4 6.4 3 8 .9 16.1 21.7 9.0 2 5 .9 30.4 8.5 14.4 19 .9 22.4 3.5 16.9 3.0 1 .6 1 0 .8 38.8 7.7 2 3 1 .6 6 .6 7 9 .4 4 8 .2 -9 .3 8.1 71.4 1 1 .8 -1 5 .7 63.9 17 .0 -1 4 .4 5.2 1 8 .7 -5.1 16.9 -4 .2 16.9 -5.1 23.9 3 1 .8 .1 - 1.6 - 2 .8 32.0 R e n ta l In c o m e o f p e r s o n s w ith c a p ita l c o n s u m p tio n a d j u s t m e n t . 2 .5 -6 0 .3 -1 9 .7 6 .6 -1 0 .7 -1 3 .6 -1 1 5 .5 9 5 .6 P e rs o n a l in c o m e r e c e ip ts o n a s s e t s ...................................................... 5 7 .8 6 0 .2 1 4 .3 -1 1 .7 69.5 1 1 5 .4 -8 5 .7 39.1 29.1 2.7 112.7 4 1 .4 21.1 - .4 14.7 3 1 .9 8 .0 2 0 .6 -9 3 .7 11.3 15.2 13.8 26.3 15.3 8 3 .5 9 8 .0 2 1 .7 81.0 50.0 -1 6 .8 47.8 2.5 7 .7 89.4 55.8 -7.1 40.7 8. 6 3 9 .6 2 0 .8 6.3 22.4 4 8 .5 -1 2 .6 29.2 1 1 .8 20.7 14.2 -1 .4 2 .8 8 .8 - 2 .0 -.6 40.2 22.5 -3 .0 20.7 - .7 7.9 .5 -5 .6 45.6 10.1 1.2 Farm............................................... ! Z !" Z Z Z Z Z Z Z Z ... Nonfarm ........................................ Personal interest income ..................................... Z Personal dividend in c o m e ............................... ZZZZZZ P ersonal cu rre n t tra n s fe r r e c e ip t s ................................................ Government social benefits to p e rs o n s ........................................ ' Old-age, survivors, disability, and health insurance benefits .... Government unemployment insurance benefits Other ...................... ; ..................................................... ........... Other current transfer receipts, from business (net) Z Z Z "Z Z 15.5 -.9 11.4 -14.6 8 .0 .1 - .1 17.9 -4 1 .7 Less: C o n trib u tio n s fo r g o ve rn m e n t s o c ia l in su ra n c e ............... 4 5 .6 4 7 .2 1 2 .9 1 7 .6 1 7 .5 3 .9 7 .7 Less: P ersonal cu rre n t taxes ............................................................. 6 .6 4 9 .2 1 5 7 .8 2 4 .4 3 5 .9 77.1 3 4 .6 9 .9 E quals: D is posable personal inc o m e ................................................ 1 8 .4 4 9 5 .0 3 6 7 .1 9 0 .6 2 5 9 .5 -2 8 .4 7 7 .7 3 5 .4 Less: P ersonal o u tla ys ....................................................................... 2 1 3 .2 5 1 6 .2 5 6 0 .3 1 2 7 .2 1 5 8 .7 1 2 9 .6 1 4 6 .6 1 7 2 .7 Personal consumption expenditures ................................................. Durable g o o d s ..................................................................... ™‘!Z! Nondurable g o o d s ................................................... Z Z Z Z Z Z S e rv ic e s ............................................................ Z Z Z . Z Z Z Z ! Personal interest pa ym ents 1 ................................ Z Z ! ! Z Z Z Z Z Personal current transfer p a y m e n ts ............................................... Z To government ............................................................ ..Z Z Z .Z To the rest of the world ( n e t ) ................................... i.Z Z Z Z Z ! 8 7 .7 504.4 37.7 179.3 287.4 3.5 8. 2 6.5 1.7 531.6 37.9 196.0 297.7 19.7 9.0 6.1 2.9 117.6 19.2 23.2 75.1 152.9 14.8 58.7 79.4 5.9 119.7 8.7 39.5 71.4 1.9 141.2 18.2 57.1 82.9 -51 .9 37.1 97.6 8.1 1 .6 - .1 - .1 1.6 -1 .7 6 .6 7.2 - 2 .0 1.4 -3 .4 167.0 15.4 71.2 80.5 4.8 E quals: P ersonal s a v in g ..................................................................... 8.1 1.5 1.5 6 6 .0 1.5 -.5 2 .0 2 .8 1.6 1.3 21.0 -1 9 3 .4 -3 6 .6 100 .8 -1 5 8 .0 -6 8 .9 -1 3 7 .4 1 2 5 .6 262.5 110.2 54.5 175.9 -71.1 4.5 -41 .8 137.2 - A d dendum : Real disposable personal income, billions of chained (2000) dollars 2 1.1 1. C o n si st s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2. Eq u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i c i t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. T a b le 5.— P erso n al In co m e an d Its D is p o s itio n , P erc en t C h a n g e fro m P rec ed in g P eriod (M o n th s) Seasonally adjusted at monthly rates 2005 May P e rs o n a l in c o m e ......................................... Compensation of employees, re c e iv e d ................... Wage and salary d is b u rs e m e n ts ......................................... Supplements to wages and salaries ..................................... Proprietors' income with inventory valuation and capital consumption adjustments ............................................ Rental income of persons with capital consumption adjustment .............. Personal income receipts on a s s e ts .............................. Personal interest income ........................................................ Personal dividend in c o m e ............................ Personal current transfer r e c e ip ts ............................................ June 0.4 - 2.1 .8 .1 .7 .2 .2 1.1 0 .6 .3 -4 .8 .9 1.3 -4 .3 .9 .2 -5 .9 -3 .2 1 .0 .8 1 .0 .8 .3 1 J) .3 .4 -.8 .3 .3 .8 .8 .3 .5 .5 -2 .4 0 1 .0 -3 .6 1.4 7.5 -.2 .8 4.2 .9 .5 .4 - .4 -8 .7 1.4 .4 .2 .4 .2 - 2 .8 ............................................................ 3.0 4 .4 .5 -.1 N o v.1' 5 5 5 7.5 .5 3 ,9 - 6.1 Dec.r’ 0 4 04 0 .6 6 .5 .3 .9 8.9 .6 Oct . r Sep. 0.5 .4 .4 ........................................... E q u a ls : D is p o s a b le p e r s o n a l In c o m e Aug. 0.4 .3 .4 Less: Contributions for government social insurance .................................... L e s s : P e rs o n a l c u r r e n t t a x e s July Q .3 3 .2 6 _3 43 1.1 L2 1 .0 1 1 .5 1 1 1 \2 12 10 - .1 “LO .5 - .1 .3 .4 .2 .2 0 .3 .9 .5 .4 3.4 .5 .4 .4 .4 .1 ^ t.O .5 3.5 48 1.6 -3.1 .5 - 1 .0 1 .7 .6 .8 .5 2.4 .4 .8 .4 A ddenda: Personal consumption expenditures ......................... Durable g o o d s ............................................... Nondurable goods ............................................... S e rv ic e s ........................................................ Real disposable personal in c o m e ............................................... .8 9 p Pr e l i m i n a r y r Re v i se d Table 6.— Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates 2004 2005 2004 III P e rs o n a l in c o m e ................................................................................ 2005 IV 5.9 5.8 5.4 7.3 5.4 6.4 4.9 7.5 6 .0 8 .0 9.8 1.9 4.3 -1 .3 16.5 I II III IV 12.7 2 .0 8 .0 1 0 .6 1 0 .8 6.3 4.9 5.3 9.8 1 2 .2 4.5 3.4 3.0 4.8 -4 .0 -44 .9 4.3 5.4 23.6 37.9 -.2 1.2 13.5 6.3 134.9 6 .2 5.4 -4 4 .9 4.3 4.3 4.3 6.9 7.8 -29.5 - 2 1 .0 3.6 -50.2 11.4 8.4 -38.6 9.4 9.3 9.5 5.7 Less: Contributions for governm ent social insurance .................................... 5.9 5.7 6.5 8 .8 8.5 1 .8 3.6 3.1 L e s s : P e rs o n a l c u r re n t t a x e s ..................................................................................... 4.9 15.0 9.8 14.3 31.3 12.4 3.3 6 .2 ..................................................................... 6.1 4.2 4.3 12.5 -1.3 3.5 1 .6 9.8 Personal consumption expenditures .............................................................. Durable goods ........................................................................................... Nondurable goods ..................................................................................... S e rv ic e s .............................................................................. 6.5 4.0 5.9 7.6 8.1 6.1 5.8 3.5 8 .2 6.5 3.8 8.3 6.3 6.1 4.0 6.4 10.3 6.7 Real disposable personal in c o m e .................................................................. 3.4 1.4 2 .8 9.1 Compensation of employees, re c e iv e d .......................................................... Wage and salary disbursements ........................................ Supplements to wages and salaries ......................................................... Proprietors' income with inventory valuation and capital consumption adjustments .............................................................................................. Rental Income of persons with capital consumption adjustment ................... Personal income receipts on a s s e ts .............................................................. Personal interest income ........................................................................... Personal dividend in c o m e .......................................................................... Personal current transfer r e c e ip ts ................................................................ E q u a ls : D is p o s a b le p e r s o n a l In c o m e 2 .2 5.5 5.0 7.7 9.4 4.7 4.4 5.7 - 1.8 14.4 8.3 6.7 11.4 13.5 11.5 12.3 -3 .2 1 .8 1 1 .8 A ddenda: 6 .8 7.9 6.1 5.9 7.3 9.5 5.3 11.7 6.5 3.8 -1 8 .3 5.8 7.7 -3.4 .2 - 2 .0 7.0 6 .6 Table 7 — Real Personal Consumption Expenditures by Major Type of Product (Months) 2005 May June July Aug. Sep. N ov . ' O c t.' Dec.? ■ Billions of chained (2000) dollars, seasonally adjusted at annual rates P e rs o n a l c o n s u m p tio n e x p e n d itu r e s ..................... Durable goods ..................................... Nondurable goods ............................... Services ........................................ 7 .8 0 1 .7 7 ,8 8 2 .1 7 ,9 6 7 .5 7 .8 9 9 .2 7 ,8 5 6 .9 7 ,8 5 7 .8 1,255.9 2,306.1 4,443.7 1,149.8 2,314.5 4.452.2 7 .9 3 0 .0 1.103.6 2.296.7 4,464.5 1.069.7 2,317.5 4.470.7 8 ,0 0 2 .9 2.279.8 4,421.5 1,163.5 2,304.3 4,435.0 1,109.4 2,338.8 4.489.0 1,165.0 2,347.8 4,507.6 1,112.1 Change from preceding period in billions of chained (2000) dollars, seasonally adjusted at annual rates ..................... P e rs o n a l c o n s u m p tio n e x p e n d itu re s Durable goods .......:...................... Nondurable goods ............................ Services ............................... -3 .2 8 0 .4 8 5 .4 -6 8 .3 -4 4 .0 6.3 25.3 -4 2 .3 51.4 24.5 13.5 .9 92.4 -106.1 8.4 8.5 7 2 .2 -4 6 .2 -1 7 .8 12.3 7 2 .9 -33 .9 39.7 21.3 18.3 55.6 9.0 18.6 1.8 8.7 20.8 6.2 Percent change from preceding period In chained (2000) dollars, seasonally adjusted at m onthly rates P e rs o n a l c o n s u m p tio n e x p e n d itu r e s .............................. Durable goods ........................................ Nondurable goods .............................. Services ........................................... 0 1.0 1.1 -.9 -3 .8 .3 4.6 7.9 -4 .0 .6 .3 .1 .2 -8 .5 .4 .2 -.8 -3.1 .9 .3 .1 1.1 -.5 0 .9 .9 3.7 .9 .4 5.0 .4 .4 p Pr e l i m i n a r y ' Re v i se d Table 8.— Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates 2004 2005 2004 III 2005 IV I II III IV Billions of chained (2000) dollars P e rs o n a l c o n s u m p tio n e x p e n d itu r e s Durable goods ............................... . Nondurable goods ......................... . Services ......................................... 7 ,5 8 8 .6 7 ,8 5 8 .1 7 ,6 1 7 .5 7 ,6 9 8 .8 1,089.9 2,200.4 4,310.9 7 ,7 6 4 .9 1,137.7 2,298.0 4,438.0 1,100.4 2,206.9 4,324.0 7 ,8 2 9 .5 1,115.1 2,236.5 4,362.1 7 ,9 0 7 .9 1,122.3 2,265.6 4,392.0 7 ,9 3 0 .2 1,143.9 2,285.9 4,417.6 1,169.7 2,305.8 4,453.5 1,114.7 2,334.7 4,489.1 Change from preceding period in billions of chained (2000) dollars P e rs o n a l c o n s u m p tio n e x p e n d itu r e s Durable goods ............................... Nondurable goods ......................... Services ......................................... 2 8 2 .0 2 6 9 .5 8 0 .9 61.4 98.6 127.0 8 1 .3 47. B 97.6 127.1 66.1 27.9 6 4 .6 14.7 29.6 38.1 7 8 .4 7.2 29.1 29.9 21.6 2 2 .3 25.8 19.9 35.9 -5 5 .0 28.9 35.6 20.8 35.4 20.3 25.6 Percent change from preceding period in chained (2000) dollars P e rs o n a l c o n s u m p tio n e x p e n d itu r e s Durable goods ............................... Nondurable goods ......................... . Services ......................................... 3 .9 3 .6 6.0 4.4 4.4 2.9 4.7 3.0 4 .4 4 .3 3 .5 3 .4 2.6 4.1 1.1 3.9 3.4 5.5 5.5 3.6 7.9 3.6 2.3 9.3 3.5 3.3 -1 7 .5 5.1 3.2 10.8 5.3 2.8 T a b le 9.— P rice In d exes fo r P e rso n al C o n s u m p tio n E xp en d itu res: L evel an d P e rc e n t C h an g e F ro m Preceding P erio d (M o n th s ) 2005 May June July Aug. Sep. O c t.' N o v .' Dec.#’ Chain-type price indexes (2000=100), seasonally adjusted P e rs o n a l c o n s u m p tio n e x p e n d itu re s (P C E ) ............................................. Durable goods ...................................................... Nondurable goods ........................................................... Services ........................................................... 1 1 0 .8 4 7 1 1 0 .8 5 8 1 1 1 .1 8 1 11 1 .6 5 1 1 1 2 .7 0 7 1 1 2 .8 6 0 90.715 110.769 115.653 90.354 110.536 115.888 1 1 2 .4 4 5 1 1 2 .4 2 4 89.979 111.318 116.154 89.742 112.499 116.442 89.795 115.138 116.929 89.778 114.702 117.425 89.629 112.544 117.853 89.457 112.281 117.995 109.146 109.867 107.569 109.203 109.864 107.617 109.264 110.213 107.657 109.428 110.704 107.787 109.658 111.834 107.948 109.835 111.953 108.086 110.068 111.424 108.305 110.208 111.367 108.431 A ddenda: PCE excluding food and e n e rg y ................................................................... Market-based P C E 1 ............................................................. Market-based PCE excluding food and ene rgy 1 ......................................... Percent change from preceding period in price indexes, seasonally adjusted at monthly rates PCE ............................................................................................. 0 Durable goods ....................................................................... Nondurable goods ................................................. Services .................................................................................... .3 .4 .9 -.4 o -.3 .1 0 -.2 -.2 - .4 .7 .2 .2 1.1 .2 2.3 .4 - .4 .4 -1 .9 .4 -2 -.2 .1 0 0 .1 .2 .3 .4 .2 1.0 .1 .2 .1 0 .2 - .4 -.4 .3 .2 0 .2 .1 .1 Addenda: PCE excluding food and e n e rg y .............................................................. Market-based P C E 1 .................................................................................... Market-based PCE excluding food and en e rg y 1 ............................................ 0 .1 .2 -5 .1 .1 - 1 !i .2 p Pr e l i m i n a r y r Re v i se d 1. T h i s i n d e x i s a su p p l e m e n t a l m e a su r e t hat i s b a se d o n h o u se h o l d e x p e n d i t u r e s f o r w h i c h t h e r e a r e o b se r v a b l e p r i c e m e a su r e s. It e x c l u d e s m o st i m p l i ci t p r i c e s ( t or e x a m p l e , t h e se r v i c e s f u r n i sh e d w it h ou t paym ent by f inancial i n t e r m e d i a r i e s) a n d t h e e x p e n se s o f n o n p r o f i t i n st i t u t i o n s. T a b le 10.— R eal D is p o s ab le P erso n al In c o m e a n d R e al P erso n al C o n su m p tio n E x p e n d itu re s : P e rc e n t C han ge F ro m M o nth O n e Y e a r A go 2005 May June July Aug. Sep. O c t.' Nov. ' D ec.r’ D is p o s a b le p e r s o n a l i n c o m e ....................................................................................... 1.9 2 .5 2 .2 -1 .0 1.4 1 .2 1 .7 -1 .8 P e rs o n a l c o n s u m p tio n e x p e n d i t u r e s ........................................................................ 3.1 4 .6 4 .7 3 .8 Durable goods ................................................................................................ Nondurable goods .......................................................................................... Services ......................................................................................................... 2.9 2 .4 3 .2 3 .4 1.8 9.1 5.4 3.3 13.1 5.0 3.0 5.0 5.2 3.0 .7 3.3 3.0 - 2 .8 3.6 2.9 .2 2.3 4.8 2.9 3.8 3.0 4.8 2.9 p Pr e l i m i n a r y r Re v i se d T a b le 11.— P rice In d ex es fo r P e rso n al C o n su m p tio n E xp end itures: P e rc e n t C h a n g e F ro m M onth O n e Y e a r A go 2005 May P e rs o n a l c o n s u m p tio n e x p e n d itu re s (P C E ) ........................................................... Durable goods ............................................................................................... Nondurable goods ..................................................................................... ................ Services ......................................................................................................... June July 2.5 2 .2 - .2 -.5 2.5 3.0 2.9 2 .0 Aug. 2 .6 -.6 3.3 2.9 Sep. O c t.' 2.9 -.5 4.4 2.9 3.8 -.5 2 .0 2 .0 2.9 1.7 3.8 1.7 6.8 3.2 N o v .' Dec.? 3.4 - .7 5.2 3.4 2 .8 2 .8 - .9 3.1 3.3 - 1.1 3.3 3.3 1.9 3.4 1.9 2.7 1.6 1.6 1.9 2.7 1.7 A ddenda: PCE excluding food and e n e rg y ..................................................................... Market-based P C E 1 ....................................................................................... Market-based PCE excluding food and ene rgy 1 ............................................ p Pr e l i m i n a r y r Re v i se d 1. T h i s i n d e x i s a su p p l e m e n t a l m e a su r e t ha t i s b a se d o n h o u se h o l d e x p e n d i t u r e s t or w h i c h t h e r e a r e o b se r v a b l e p r i c e m e a su r e s. It e x c l u d e s m o st i m p l i ci t p r i c e s (f or ex am p l e, i n t e r m e d i a r i e s) a n d t he e x p e n se s o f n o n p r o f i t i n st i t u t i o n s. t h e se r v i c e s f u r n i sh e d w it h out paym ent b y f inancial 2 .0 1.9 2.3 1.7 2.1 1.6 1.9 2.4 1 .6
@FedFRASER