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B U R E A U O F E C O N O M IC A N A LY SIS U .S. D E P A R T M E N T O F C O M M E R C E NEWS RELEASE E M B A R G O E D U N T IL R E L E A S E A T 8 :3 0 A .M . E S T , F rid a y , M a rc h 31, 2 0 0 6 Jam es E . R an k in : M ic h a e l A rm ah : (2 0 2 ) 6 0 6 -5 3 0 1 (2 0 2 ) 6 0 6 -5 3 0 2 (P e rso n a l In c o m e ) (P e rso n a l O u tlay s) B E A 06-12 P E R S O N A L IN C O M E A N D O U T L A Y S : F E B R U A R Y 2006 P e rso n a l in c o m e in c re a se d $31.5 b illio n , o r 0.3 p e rc e n t, a n d d isp o sa b le p e rso n a l in c o m e (D PI) in c re a se d $ 2 1 .7 b illio n , o r 0 .2 p e rc en t, in F e b ru a ry , a c c o rd in g to th e B u re au o f E c o n o m ic A n aly sis. P e rso n a l co n su m p tio n e x p en d itu res (P C E ) in c re a s e d $13.1 b illio n , o r 0.1 p ercen t. In Jan u a ry , p e rso n al in c o m e in c re a se d $77.1 b illio n , o r 0 .7 p e rc e n t, D P I in c re a s e d $53.5 b illio n , o r 0 .6 p e rc en t, a n d P C E in c re a se d $72.1 b illio n , o r 0 .8 p e rc e n t, b a se d o n re v is e d estim ates. ___________ 2005___________ O ct. P ersonal incom e, current dollars 2006 N ov. D ec. Jan. (P ercent change from preceding m onth) Feb. 0.5 0.3 0.5 0.7 0.3 0.5 0.3 0.3 0.7 0.5 0.5 0.6 0.2 0.1 0.2 C urrent dollars 0.3 0.5 0.7 0.8 0.1 C hained (2000) dollars 0.0 0.9 0.7 0.3 0.1 D isposable personal incom e: C urrent dollars C hained (2000) dollars Personal consum ption expenditures: N O T E .—M onthly estim ates are ex p ressed at seasonally ad ju sted annual rates, unless otherw ise specified. M onth-to-m onth dollar changes are differences b etw een these p u b lish ed estim ates. M onth -to -m o n th percent changes are calculated from u n ro u n d ed data and are n o t annualized. “R eal” estim ates are in ch ained (2000) dollars. This new s release is available on B E A 's W eb site at w w w .b ea.g o v /b ea/rels.h tm . -m o r e - - 2 - C o m p e n s a tio n o f e m p lo y e e 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 6 .7 b i l l i o n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 3 7 .2 b illio n in J a n u a ry . 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 $ 3 .2 b illio n , c o m p a r e d w it h a n in c r e a s e o f $ 6 .5 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 $ 1 .6 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 2 .5 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 3 .6 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 3 0 .6 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 $ 4 .5 b i ll io n in F e b r u a r y , 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 J a n u a r y . P a y r a is e s f o r f e d e r a l c iv ilia n p e r s o n n e l a d d e d a n a d d itio n a l $ 1 .0 b illio n to th e c h a n g e in g o v e r n m e n t p a y r o lls in F e b r u a r y ; p a y r a is e s fo r fe d e r a l c iv ilia n a n d m ilita r y p e r s o n n e l h a d a d d e d $ 5 .4 b illio n to g o v e r n m e n t p a y r o lls in J a n u a r y . D isposable P ersonal In co m e and Personal O u tlays Jan u ary 2001 th ro u g h F ebru ary 2006 (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 an n u a l rates) -m o r e - - 3 - E m p lo y e r c o n t r ib u t io n s f o r e m p lo y e e p e n s io n a n d in s u r a n c e f u n d s in c r e a s e d $ 7 .1 b i ll io n in F e b r u a r y , c o m p a r e d w ith a n in c r e a s e o f $ 1 0 .9 b illio n in J a n u a r y . E m p lo y e r 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 in c r e a s e d $ 0 .9 b illio n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 7 .7 b illio n in J a n u a r y . T h e J a n u a r y in c r e a s e r e fle c t e d a n in c r e a s e in th e ta x r a te p a id b y e m p lo y e r s to s ta te u n e m p lo y m e n t in s u r a n c e fu n d s a n d a n in c r e a s e in th e s o c ia l s e c u r ity ta x a b le w a g e b a s e (fr o m $ 9 0 ,0 0 0 to $ 9 4 ,2 0 0 ) ; t h e s e c h a n g e s a d d e d $ 4 .2 b illio n in J a n u a r y . (C h a n g e s in e m p lo y e r 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 d o n o t a f fe c t p e r s o n a l in c o m e , b e c a u s e e m p lo y e r 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 r e a ls o in c lu d e d in to ta l c o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e , w h ic h is a s u b tr a c tio n in th e c a lc u la t io n o f p e r s o n a l in c o m e .) O t h e r p e r s o n a l in c o m e P r o p r ie to r s ' i n c o m e d e c r e a s e d $ 0 .4 b i ll io n in F e b r u a r y , in c o n tr a s t t o a n in c r e a s e o f $ 4 .0 b illio n in J a n u a ry . b illio n . F a r m p r o p r ie to r s ' in c o m e d e c r e a s e d $ 2 .2 b ill io n , c o m p a r e d w it h a d e c r e a s e o f $ 3 .5 N o n f a r m p r o p r ie to r s ' in c o m e in c r e a s e d $ 1 .8 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 $ 7 .5 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 $ 2 .3 b illio n in F e b r u a r y , c o m p a r e d w ith a d e c r e a s e o f $ 1 .6 b illio n in J a n u a r y . 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 $ 2 .6 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 $ 3 .2 b illio n . 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 $ 5 .4 b illio n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 2 8 .5 b illio n in J a n u a ry . T h e J a n u a r y c h a n g e in c u r r e n t tr a n sfe r r e c e ip ts r e fle c te d p a y m e n ts fo r th e n e w M e d ic a r e P a rt D P r e s c r ip tio n D r u g P la n ( w h ic h t o o k e f f e c t o n J a n u a r y 1, 2 0 0 6 ) a n d 4 .1 p e r c e n t c o s t- o f- liv in g a d ju stm e n ts to s o c ia l s e c u r ity b e n e fits a n d to s e v e r a l o th e r fe d e r a l tr a n sfe r p a y m e n t p r o g r a m s; th e s e c h a n g e s a d d e d $ 4 9 .7 b illio n to th e J a n u a r y in c r e a s e . T h e January ch a n g e in c u r r e n t tr a n sfe r r e c e ip ts w a s r e d u c e d b y lu m p -s u m s o c ia l s e c u r ity b e n e f it s p a y m e n ts , w h ic h h a d a d d e d $ 6 .5 b illio n to D e c e m b e r b e n e f it p a y m e n ts ; t h e s e b e n e f it p a y m e n ts r e s u lte d 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 fo r g o v e r n m e n t s o c ia l in s u r a n c e — 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 $ 3 .3 b illio n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 1 8 .4 b illio n in J a n u a r y . The J a n u a r y in c r e a s e r e fle c t e d in c r e a s e s in b o t h e m p lo y e r a n d p e r s o n a l c o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e . A s n o t e d a b o v e , e m p lo y e r c o n tr ib u tio n s w e r e b o o s t e d $ 4 .2 b illio n in J a n u a r y b y in c r e a s e s in u n e m p lo y m e n t -in s u r a n c e r a te s a n d in th e s o c ia l s e c u r it y ta x a b le w a g e b a s e . The J a n u a r y in c r e a s e in p e r s o n a l 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 r e f le c t e d a n in c r e a s e in t h e m o n th ly p r e m iu m p a id b y p a r tic ip a n ts in t h e s u p p le m e n t a r y m e d ic a l in s u r a n c e p r o g r a m ( M e d ic a r e p a r t B ) a n d th e in c r e a s e in th e s o c ia l s e c u r ity t a x a b le w a g e b a s e ; t h e s e c h a n g e s a d d e d $ 6 .8 b illio n to J a n u a r y p e r s o n a l c o n tr ib u tio n s . -m o r e - - 4 - P e r s o 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 c o m e P e r s o n a l c u r r e n t t a x e s in c r e a s e d $ 9 .9 b illio n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 2 3 .5 b illio n in J a n u a r y . I n d e x a tio n p r o v is io n s o f c u r r e n t ta x la w r e d u c e d fe d e r a l w it h h e ld in c o m e ta x e s b y $ 4 .1 b illio n in J a n u a r y . F e d e r a l n e t n o n w it h h e ld in c o m e t a x e s (p a y m e n ts o f e s tim a te d t a x e s p lu s fin a l s e ttle m e n ts le s s r e fu n d s ) b o o s t e d th e J a n u a r y in c r e a s e b y $ 5 .6 b illio n , b a s e d o n fe d e r a l b u d g e t p r o je c tio n s fo r 2 0 0 6 . D is p o s a b le p e r s o 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 s o n a l c u r r e n t ta x e s — in c r e a s e d $ 2 1 .7 b illio n , o r 0 .2 p e r c e n t, in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 5 3 .5 b illio n , o r 0 .6 p e r c e n t, in J a n u a ry . P e r s o n a l o u tla y s a n d p e r s o n a l s a v in g P e r s o n a l o u tla y s -- P C E , p e r s o n a l in te r e s t p a y m e n ts , a n d p e r s o n a l c u r r e n t tr a n sfe r p a y m e n ts in c r e a s e d $ 1 4 .4 b illio n in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f $ 7 3 .5 b illio n in J a n u a r y . PCE in c r e a s e d $ 1 3 .1 b illio n , c o m p a r e d w ith a n in c r e a s e o f $ 7 2 .1 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 t la y s - - w a s a n e g a t iv e $ 4 3 .8 b illio n in F e b r u a r y , c o m p a r e d w ith a n e g a tiv e $ 5 1 .0 b illio n in J a n u a r y . P e r s o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l in c o m e w a s a n e g a t iv e 0 .5 p e r c e n t in F e b r u a r y , th e s a m e a s in J a n u a r y . N e g a t iv e p e r s o n a l s a v in g r e fle c t s p e r s o n a l o u tla y s th a t e x c e e d d is p o s a b le p e r s o n a l in c o m e . S a v in g fr o m cu rren t in c o m e m a y b e n e a r z e r o o r n e g a t iv e w h e n o u tla y s a r e 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 t h r o u g h c r e d it c a r d s o r h o m e e q u it y lo a n s ) , b y s e ll in g in v e s t m e n t s 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 fr 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 th e F A Q s o n “P e r s o n a l S a v in g ” o n B E A ’s W e b s ite . R eal D P I an d real PC E R e a l 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 .2 p e r c e n t in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f 0 .1 p e r c e n t in J a n u a r y . R e a l P C E — P C E a d ju s te d t o 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 .1 p e r c e n t in F e b r u a r y , c o m p a r e d w it h a n in c r e a s e o f 0 .3 p e r c e n t in J a n u a r y . p e r c e n t , i n c o n t r a s t t o a n i n c r e a s e o f 1 .1 p e r c e n t . fo r a b o u t o n e - h a lf o f th e d e c r e a s e in F e b r u a r y . P u r c h a s e s o f d u r a b le g o o d s d e c r e a s e d 1 .8 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 te d 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 d e c r e a s e d 0 .5 p e r c e n t in F e b r u a r y , in c o n tr a s t t o a n in c r e a s e o f 1 .0 p e r c e n t in J a n u a r y . in c r e a s e d 0 .8 p e r c e n t, in c o n tr a s t to a d e c r e a s e o f 0 .2 p e r c e n t. -m o re- P u r c h a se s o f s e r v ic e s - 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 th r o u g h J a n u a r y . C h a n g e s in p e r s o n a l in c o m e , c u r r e n t-d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r D P I , a n d c u r r e n t-d o lla r a n d c h a in e d ( 2 0 0 0 ) d o lla r P C E fo r D e c e m b e r a n d J a n u a r y — 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 . C h a n g e f r o m p r e c e d in g m o n th D ecem b er Previous Revised January Previous Revised (Billions of dollars) (Percent) Previous Revised Previous (Billions of dollars) Revised (Percent) Personal Income: C urrent dollars...................... 54.8 55.2 0.5 0.5 75.2 77.1 0.7 0.7 C urrent dollars...................... 47.6 47.7 0.5 0.5 50.2 53.5 0.5 0.6 Chained (2000) dollars......... 42.8 42.9 0.5 0.5 4.8 7.6 0.1 0.1 C urrent dollars...................... 64.2 63.0 0.7 0.7 76.7 72.1 0.9 0.8 C hained (2000) dollars......... 57.4 56.6 0.7 0.7 29.6 25.2 0.4 0.3 D isposable personal income: Personal consum ption expenditures: B E A ’ s n a t i o n a l , i n t e r n a t i o n a l , r e g i o n a l , a n d i n d u s t r y e s t i m 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 re 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 ite a t w w w .b e a .g o v . B y v is it in g th e s ite , y o u c a n a ls o s u b s c r ib e to r e c e iv e 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 c em e n ts. =H =i= N e x t r e le a s e — P e r s o n a l I n c o m e a n d O u tla y s fo r M a r c h w ill b e r e le a s e d o n M a y 1, 2 0 0 6 a t 8 : 3 0 A .M . E D T . -m o r e - T a b le 1 .— P e r s o n a l In c o m e a n d Its D is p o s itio n (M o n th s ) [Billions o f dollars] S e a s o n a l l y a d j u st e d a t a n n u a l r a t e s 2005 Au g. Ju ly 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 P r i v a t e i n d u st r i e s ........................................................ ......................................................... ............................................................................... G o o d s- p r o d u c i n g i n d u st r i e s . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .................................................. O c t . '’ N o v . '- De c .' Jan.r Fe b . ? 1 0 ,6 3 9 .5 1 0 ,2 8 3 .9 1 0 ,0 7 8 .3 1 0 ,3 8 9 .1 1 0 ,4 4 4 .5 1 0 ,4 7 5 .7 1 0 ,5 3 0 .9 1 0 ,6 0 8 .0 7 ,1 5 0 .4 7 ,1 7 0.1 7 ,2 1 2 .4 7 ,2 4 6 .3 7 ,2 5 3.1 7 ,2 8 5 .7 7 ,3 4 7 .1 7 ,3 7 6 .4 5 ,7 4 4 .2 5,7 55.1 5 ,7 8 7 .7 5 ,8 1 7 .4 5,8 22.1 5 ,8 5 0 .8 5 ,8 9 3 .5 5 ,9 1 4 .8 4,772.6 4,780.5 4,808.8 4,837.4 4,839.4 4,866.6 4,903.8 4,920.5 1,123. 8 1, 131. 6 1,134.5 1, 145. 6 1, 144. 4 1,148. 9 1,155. 4 1,158.6 721.8 725.9 726.3 735.6 730.6 731.6 734. 1 735.7 3,648.9 3,648.9 3,674.3 3,691.8 3,695.0 3,717.7 3,748.3 3,761.9 963.6 961. 1 963.7 967.7 M a n u f a c t u r i n g ............................................................................ Se r v i c e s - p r o d u c i n g I n d u s t r i e s Se p . 2006 T r a d e , t r a n sp o r t a t i o n , a n d u t i l i t i e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 971.0 974.9 980. 1 982.6 2,685.2 2,687.8 2,710.6 2,724. 1 2,724.0 2,742.8 2,768.3 2,779.3 G o v e r n m e n t ....................................................................................... 971.6 974.6 978.9 980.0 982.6 984.2 989.8 994.3 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 .............................................................. 1 ,4 0 6 .2 1 ,4 1 5 .0 1 ,4 2 4 .7 1 ,4 2 8 .9 1 ,4 3 1 .0 1 ,4 3 4 .9 1 ,4 5 3 .6 1 ,4 6 1 .6 O t h e r s e r v i c e s - p r o d u c i n g i n d u st r i e s ....................................... Em p l o y e r c o n t r i b u t i o n s f o r e m p l o y e e p e n si o n a n d i n su r a n c e f u n d s . .. .. . 978.5 987.0 994.8 996.8 998.9 1, 001. 2 1, 012. 1 1,019. 2 E m p l o y e r c o n t r i b u t i o n s f o r g o v e r n m e n t so c i a l i n s u r a n c e . .. .. .. .. .. .. .. .. .. .. . 427.7 428.0 429.8 432.1 432.2 433.8 441.5 442.4 9 4 7 .3 8 9 1 .4 9 5 8 .4 9 6 1 .3 9 6 7 .9 9 7 4 .0 9 7 8 .0 9 7 7 .6 19. 0 17. 4 17. 7 19. 1 21.0 22.9 19. 4 17. 2 928.2 874. 1 940.7 942.2 946.9 951. 1 958.6 960.4 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 ............................................................................................................. Far m ..................................................................................................... Nonfarm ................................................................................................ 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 .............. 9 6 .5 -2 1 3 .4 8 3 .6 7 9 .3 8 2 .7 7 8 .9 7 7 .3 7 5 .0 P e r s o n a l in c o m e re c e ip ts o n a s s e ts ................................................................... 1 ,4 6 0 .9 1 ,4 6 8 .8 1 ,4 7 6 .9 1 ,4 9 4 .9 1 ,5 1 2 .9 1 ,5 3 1 .0 1 ,5 3 4 .2 1 ,5 3 6 .8 P e r s o n a l i n t e r e st i n c o m e ........................................................................ 948.1 951.2 954.4 967.2 980. 1 992.9 991.8 990.7 i n c o m e ....................................................................... 512.8 517.6 522.5 527.7 532.9 538.0 542.3 546.1 P e rs o n a l c u r re n t tr a n s fe r re c e ip ts ........................................................................ 1 ,5 0 2 .4 1 ,6 3 5 .9 1 ,5 3 6 .0 1 ,5 4 5 .0 1 ,5 4 1 .6 1 ,5 4 7 .4 1 ,5 7 5 .9 1 ,5 8 1 .3 G o v e r n m e n t so c i a l b e n e f i t s t o p e r s o n s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1, 473. 1 1, 478. 1 1,498.5 1,504. 6 1, 512. 1 1,517. 9 1,546. 6 1,552. 0 847.3 851.2 851.9 854.8 855.3 865.5 908.3 27.9 27. 6 30.0 30.7 29. 6 28.7 27.3 26.0 597.9 599.3 616.5 619.1 627.2 623.6 611.0 605.9 29.3 157.8 37.5 40.4 29. 5 29. 5 29.3 29. 3 8 7 3 .5 8 7 4 .5 8 78.1 8 8 2 .2 8 8 2 .6 8 8 6 .0 9 0 4 .4 9 0 7 .7 P e r so n a l d i v i d e n d O l d - a g e , s u r v i v o r s , d i sa b i l i t y , a n d h e a l t h i n su r a n c e b e n e f i t s . . . . . . . . . . . . . . . . . G o v e r n m e n t u n e m p l o y m e n t In su r a n c e b e n e f i t s Ot her ............................... ................................................................................................ O t h e r c u r r e n t t r a n s f e r r e c e i p t s, f r o m b u s i n e s s ( n e t ) ................................ L e s s : C o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u ra n c e .................................. 920. 1 L e s s : P e rs o n a l c u r re n t t a x e s ...................................................................................... 1 ,2 1 7 .2 1 ,2 1 9 .2 1 ,2 2 4 .8 1 ,2 3 6.1 1 ,2 3 9 .7 1 ,2 4 7 .2 1 ,2 7 0 .7 1 ,2 8 0 .6 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 ....................................................................... 9 ,0 6 6 .7 8 ,8 5 9 .2 9 ,1 6 4 .3 9 ,2 0 8 .5 9 ,2 3 6 .0 9 ,2 8 3 .7 9 ,3 3 7 .2 9 ,3 5 8 .9 ................................................................................................. 9 ,1 8 6 .8 9 ,1 4 9.1 9 ,1 8 5 .9 9 ,2 0 9 .3 9 ,2 5 1 .5 9 ,3 1 4 .8 9 ,3 8 8 .3 9 ,4 0 2 .7 8,858.0 8, 819. 1 8,854.8 8,877.3 8, 919. 1 8,982. 1 9,054.2 9,067.3 L e s s : P e rs o n a l o u tla y s P e r s o 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 ............................................................ Du r a b l e g o o d s ....................................................................................... 1,130.0 1,031. 7 990.9 965.3 1,000. 7 1,040. 4 1,052.6 1,032.6 N o n d u r a b l e g o o d s .................................................................................. 2,566.9 2,603.6 2,644. 1 2,658.7 2,632.7 2,636.0 2,688.3 2, 671. 1 Se r v i c e s .............................................................................................. 5,161.2 5,183.8 5,219.8 5,253.4 5,285.7 5,305.8 5,313.3 5,363.6 P e r s o n a l i n t e r e st p a y m e n t s 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209.5 210.1 210.7 210.5 210.2 210.0 210.7 211.4 P e r s o n a l c u r r e n t t r a n sf e r p a y m e n t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119.4 119.8 120.4 121.5 122. 1 122.7 123.4 124.0 ...................................................................................... 75.0 75.4 76.0 76.7 77.4 78.0 78. 6 79.3 T o t h e r e st o f t h e w o r l d ( n e t ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.4 44.4 44.4 44.8 44. 8 44. 8 44. 8 44. 8 E q u a ls : P e rs o n a l s a v in g ............................................................................................... -1 2 0 .2 -2 8 9 .9 -2 1 .7 -.8 -1 5 .5 - 3 1 .1 -5 1 .0 -4 3 .8 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 ........... -1 .3 - 3 .3 -.2 -.2 -.3 -.5 -.5 8,155.2 7,935.0 8,131.4 8,152.2 8,212.0 8,254.9 8,262.5 8,278.0 To governm ent 0 A ddenda: D i sp o sa b l e p e r so n a l i n c o m e : Tot al, b illions of c h ain e d ( 2 0 0 0 ) d o l l a r s2 ................................................ Pe r cap it a: Cu r re n t dollars Ch ain e d ................................................................................... (2000) d ollars ....................................................................... Po p u l a t i o n (m id p e r io d , t h o u sa n d s) 3 ............................................................ 30,551 29,826 30,827 30,949 31,019 31,158 31,318 31,370 27,480 26,715 27,352 27,399 27,580 27,705 27,713 27,747 296,769 297,027 297,285 297,534 297,756 297,954 298,144 298,339 p Pr e l i m i n a r y Po p u l a t i o n i s t h e t o t a l p o p u l a t i o n o f t h e U n i t e d St a t e s, i n c l u d i n g t h e A r 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 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 h e f i r st o f t h e m o n t h a n d t h e f i r st o f t ionalized 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. 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. t 3. 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. populat ion. The T a b le 2 — P e r s o n a l In c o m e and Its D is p o s itio n (Y e a rs and Q u a rte rs ) [Billions of dollars] Se a s o n a l l y a d j u st e d a t a n n u a l r a t e s 2 0 0 5 '- 2004 2004 III P e rs o n a l in c o m e ............................................................................................................. 2005 IV I II III IV ' 9 ,7 1 3 .3 1 0 ,2 4 8 .3 9 ,7 2 9 .2 1 0 ,0 2 4 .8 1 0 ,0 7 3 .4 1 0 ,1 8 5 .7 1 0 ,2 5 0 .4 1 0 ,4 8 3 .7 ............................................................... 6 ,6 8 7 .6 7 ,1 2 5 .3 6 ,7 2 4 .2 6 ,8 9 5 .8 7 ,0 0 1 .7 7 ,0 6 0 .2 7 ,1 7 7 .6 7 ,2 6 1 .7 ..................................................................... 5 ,3 8 9 .4 5 ,7 2 3 .7 5 ,4 2 2 .0 5 ,5 6 2 .9 5 ,6 2 9 .9 5 ,6 7 2 .3 5 ,7 6 2 .3 5 ,8 3 0 .1 ............................................................................... 4,450.0 4, 752. 1 4,479.2 4,612.9 4,668. 1 4,705.0 4,787.3 4,847.8 G o o d s- p r o d u c i n g I n d u s t r i e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,049. 9 1,120.7 1,062. 3 1, 083. 0 1, 099. 2 1,146.3 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 P'r l v a t e I n d u s t r i e s 1,107.2 1,130. 0 687.7 722.0 696.1 707.8 715.3 715.5 724.7 732.6 ......................................................... 3, 400. 1 3,631.4 3,416.8 3,529.9 3,568.8 3,597.9 3,657.4 3,701.5 u t i l i t i e s............................................... 899.7 955.7 906.3 931. 1 937.8 951. 1 962.8 971.2 ............................................ 2,500.4 2,675.7 2,510.5 2,598.8 2,631.0 2,646.8 2,694.5 2,730.3 G o v e r n m e n t ....................................................................................... 939.5 971.6 942.8 950.0 961.8 967.3 975.0 982.3 1 ,2 9 8.1 1 ,4 0 1 .6 1 ,3 0 2 .3 1 ,3 3 2 .9 1 ,3 7 1 .8 1 ,3 8 7 .9 1 ,4 1 5 .3 1 ,4 3 1 .6 Manuf act uring ......................................................................... Se r v i c e s - p r o d u c i n g i n d u s t r i e s T r a d e , t r a n sp o r t a t i o n , a n d O t h e r s e r v i c e s - p r o d u c i n g i n d u st r i e s S u p p le m e n ts to w a g e s a n d s a la rie s ............................................................... i n su r a n c e f u n d s . . . . . . 895.5 975.0 897.9 919.6 950.0 964.4 986.8 '9 9 8 . 9 Em p l o y e r c o n t r i b u t i o n s f o r g o v e r n m e n t so c i a l i n s u r a n c e . . . . . . . . . . . . . . . . . . . . . . Em p l o y e r c o n t r i b u t i o n s f or e m p l o y e e p e n si o n a n d 402.7 426.6 404.4 413.4 421.9 423.5 428.5 432.7 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 ............................................................................................................. 8 8 9 .6 9 3 8 .7 8 89.1 9 0 0 .9 9 1 7 .9 9 3 6 .6 9 3 2 .4 9 6 7 .7 35.8 20.8 29.7 24. 6 24.7 19. 6 18. 0 21.0 853.8 917.8 859.4 876.3 893.2 917. 1 914.3 946.7 Farm ..................................................................................................... Nonfarm ................................................................................................ 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 .............. 1 3 4 .2 7 2 .9 1 22.1 1 2 8 .7 1 1 8 .0 1 0 4 .4 -1 1 .1 8 0 .3 P e rs 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 ,4 5 7 .4 1 ,3 7 8 .2 1 ,4 9 3 .6 1 ,4 0 7 .9 1 ,4 3 9 .8 1 ,4 6 8 .9 1 ,5 1 2 .9 P e r s o n a l i n t e r e st i n c o m e ........................................................................ 905.9 945.7 904.7 907.4 915.4 936.0 951.2 980.1 P e r so n a l d i v i d e n d i n c o m e . . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . . .. . . . 490.6 511.7 473.5 586.2 492.5 503.8 517.6 532.9 P e r s o n a l c u r re n t tr a n s fe r r e c e i p t s ...................................................................... 1 ,4 2 7 .5 1 ,5 2 5 .3 1 ,4 4 1 .5 1 ,4 4 9 .2 1 ,4 8 8 .8 1 ,5 0 9 .6 1,5 5 8.1 1 ,5 4 4 .7 1,394. 5 1,483. 7 1, 397. 1 1, 419. 5 1,459.7 1,480. 4 1,483. 2 1,511. 5 789.3 844.7 793.7 805.5 828.0 842.2 850.1 858.6 .................................. 36.0 28.9 33.3 32.4 29.4 28.0 28.5 29.7 ................................................................................................ 569.2 610. 1 570.1 581.5 602.2 610.2 604.6 623.3 G o v e r n m e n t so c i a l b e n e f i t s t o p e r s o n s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O l d - a g e , s u r v i v o r s , d i sa b i l i t y , a n d h e a l t h i n su r a n c e b e n e f i t s . . . . . .. . . . . .. . . . . G o v e r n m e n t u n e m p l o y m e n t i n su r a n c e b e n e f i t s Ot her O t h e r c u r r e n t t r a n s f e r r e c e i p t s, f r o m b u si n e ss (n e t ) ................................ 33.0 41.6 44.4 29. 8 29. 1 29. 2 74.8 33. 1 .................................. 8 2 2 .2 8 7 1 .2 8 2 5 .9 8 4 3 .5 8 6 1 .0 8 6 4 .9 8 7 5 .4 8 8 3 .6 L e s s : P e rs o n a l c u r r e n t t a x e s ...................................................................................... 1 ,0 4 9 .1 1 ,2 0 9 .7 1 ,0 5 8 .4 1 ,0 9 4 .3 1 ,1 7 1 .4 1 ,2 0 6 .0 1 ,2 2 0 .4 1 ,2 4 1 .0 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 8 ,6 6 4 .2 9 ,0 3 8 .6 8 ,6 7 0 .9 8 ,9 3 0 .4 8 ,9 0 2 .0 8 ,9 7 9 .7 9 ,0 3 0 .0 9 ,2 4 2 .7 L e s s : C o n tr ib u tio n s f o r g o v e r n m e n t s o c ia l in s u r a n c e L e s s : P e rs o n a l o u tla y s ..................................................................... ................................................................................................. 8 ,5 1 2 .5 9 ,0 7 2.1 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 5 8 .5 ............................................................ 8,214.3 8,745.7 8,263.2 8, 416. 1 8,535.8 8,677.0 8,844.0 8,926.2 Du r a b l e g o o d s ....................................................................................... 987.8 1,026. 5 993.8 1, 008. 6 1,017. 3 1,035.5 1,050. 9 1, 002. 1 N o n d u r a b l e g o o d s .................................................................................. 2,368.3 2,564.4 2,378.4 2, 437. 1 2,476.6 2,533.7 2,604.9 2,642.5 S e r v i c e s ................................................................................................ P e r s o 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 4,858.2 5,154.9 4,891.0 4,970.4 5,041.8 5,107.8 5,188.3 5,281.6 ...................................................................... 186.7 205.9 190.3 196.2 198. 1 205.3 210.1 210.2 P e r s o n a l c u r r e n t t r a n sf e r p a y m e n t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111.5 120.4 112.8 112.7 120.8 118.8 119.9 122. 1 T o g o v e r n m e n t ...................................................................................... 68. 6 74.8 69. 4 71. 0 72. 5 73.9 75.4 77.3 ................................................................. 42.9 45.6 43.4 41.7 48.3 44.9 44.4 44. 8 E q u a ls : P e rs o n a l s a v in g ............................................................................................... 1 5 1 .8 -3 3 .5 1 0 4 .6 2 0 5 .4 4 7 .4 -2 1 .5 -1 4 3 .9 -1 5 .8 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 ........... 1 .8 -.4 1.2 2 .3 .5 -.2 -1 .6 -.2 8,004.3 8,120.0 7,993.3 8,169.2 8, 098. 1 8,102.6 8,074.2 8,206.4 P e r s o n a l i n t e r e st p a y m e n t s 1 T o t h e r e st o f t h e w o r l d (n et ) A ddenda: D i sp o sa b l e p e r so n a l i n c o m e : Tot al, b illion s of c h ain e d ( 2 0 0 0 ) d o l l a r s2 ............................................... Pe r cap it a: Cu r r e n t d o llar s Ch ain e d ................................................................................... 29,477 30,466 29,463 30,269 30,111 30,307 30, 401 31,042 (2 0 0 0 ) d o l l a r s ....................................................................... 27,232 27,370 27,160 27,689 27,391 27,347 27,183 27,562 293,933 296,677 294,301 295,037 295,643 296,289 297,027 297,748 Po p u l a t i o n (m id p e r io d , t h o u sa n d s) 3 ............................................................ r R e v i se d # 3. Po p u l a t i o n i s t h e t o t a l p o p u l a t i o n o f t h e U n i t e d St a t e s, i n c l u d i n g t h e A r m e d F o r c e s o v e r s e a s a n d t h e i n st i t u 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. t io nal ized 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. 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. pop ul at ion. T h e 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 h e f i r st o f t h e m o n t h a n d t h e f i r st o f T a b le 3.— P erso n al 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 erio d (M o n th s) [Billions of dollars] Seasonally adjusted at annual rates 2005 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 us trie s................................................................ M anu fa ctu rin g ................................................................................ Services-produclng Industries ............................................................ Trade, transportation, and u tilitie s ................................................. Other servicès-producing In d u s trie s ............................................... G o ve rn m e nt............................................................................................ Sep. N ov.1' o Aug. o July •n i 2006 D ec.1' Ja n .r Feb.r’ 5 2 .4 -2 0 5 .6 3 1 0 .8 5 5 .4 3 1 .2 5 5 .2 77.1 6 4 .3 1 9 .7 4 2 .3 3 3 .9 6 .8 3 2 .6 6 1 .4 2 9 .3 4 8 .5 1 0 .9 3 2 .6 2 9 .7 4 .7 2 8 .7 4 2 .7 2 1 .3 45.2 7.9 7.8 4.1 28.3 2.9 .4 25.4 28.6 2 .0 11.1 - 1 .2 -5 .0 3.2 3.3 27.2 4.5 16.7 3.2 1 .6 37.2 6.5 2.5 30.6 5.2 25.5 5.6 1 2 .0 4.3 33.3 7.7 25.5 3.2 -2 .5 3 1 .5 2 .6 2 .6 2 2 .8 9.3 17.5 4.0 13.5 3.0 4.3 1.1 - .1 2 .6 1 5 .8 8 .8 9 .7 4 .2 2.1 3 .9 1 8 .7 12.9 2.9 8.5 .3 7.8 8 .0 2 .0 2.3 2.1 .1 2.3 1.8 10.9 7.7 7.1 .9 a d j u s t m e n t s ............................................................................................................. 1 .6 -5 5 .9 6 7 .0 Farm ........................................................................................................... Nonfarm ...................................................................................................... 2 .9 6 .6 6.1 4 .0 - 1 .6 -54.1 -.4 3.2 - 1 .7 .3 1.9 4.7 1.9 4.2 -3 .5 7.5 - 2 .2 6 6 .6 1.4 1.5 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 ............. - 3 .2 -3 0 9 .9 2 9 7 .0 -4 .3 3 .4 -3 .8 - 1 .6 -2 .3 P e rs o n a l in c o m e re c e ip ts o n a s s e ts ................................................................... 8.1 7 .9 8.1 Personal Interest income ............................................................................ Personal dividend In c o m e ........................................................................... 1 8 .0 1 8 .0 18.1 3 .2 2 .6 3.2 4.9 3.1 4.8 3.2 4.9 1 2 .8 12.9 5.2 1 2 .8 5.2 5.1 - 1.1 4.3 - 1.1 3.8 -1 2 .4 1 3 3 .5 -9 9 .9 9 .0 -3 .4 5 .8 2 8 .5 5 .4 -1 2 .4 1.7 5.0 3.9 - .3 1.4 128.5 20.4 .7 2.4 17.2 -12 0.3 6.1 7.5 .5 5.8 28.7 42.8 -1 .4 1 1 .8 1 .0 3 .6 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 governm ent social in s u ra n c e ....................... 0 1 .0 22.7 3.9 18.8 1 .6 1.6 13.6 2.5 1 1 .0 4.5 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 P e rs o n a l c u r re n t tr a n s fe r re c e ip ts ................................................................. 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 -.2 -1 3 .9 0 .................................. 5 .9 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 L e s s : P e rs o n a l o u tla y s 2.9 .7 - 1.1 2 .6 8.1 2.9 -10 .9 4.1 .4 1 0 .2 - .9 -3 .6 - 1 2 .6 1.8 5.4 -1 .3 -5.1 0 -.2 0 3 .4 1 8 .4 3 .3 1.1 2 .0 5 .6 11 .3 3 .6 7 .5 2 3 .5 9 .9 ....................................................................... 5 1 .3 -2 0 7 .5 3 05.1 4 4 .2 2 7 .5 4 7 .7 5 3 .5 2 1 .7 ................................................................................................. 1 2 1 .4 -3 7 .7 3 6 .8 2 3 .4 4 2 .2 6 3 .3 7 3 .5 1 4 .4 Personal consumption expenditures ............................................................... Durable g o o d s ............................................................................................ Nondurable g o o d s ...................................................................................... Services ..................................................................................................... Personal interest paym ents 1 .......................................................................... Personal current transfer p a y m e n ts ................................................................ To government ........................................................................................... To the rest of the world ( n e t ) ................................................................... 120.7 78.8 -3 8 .9 -9 8 .3 36.7 35.7 -4 0 .8 40.5 36.0 22.5 -25.6 14.6 33.6 63.0 39.7 3.3 72.1 .6 .6 .6 0 -.2 1.1 41.8 35.4 -2 6 .0 32.3 - .3 13.1 - 2 0 .0 -17.2 50.3 .7 E q u a ls : P e rs o n a l s a v in g ............................................................................................... -7 0 .2 -1 6 9 .7 2 6 8 .2 2 0 .9 -1 4 .7 -1 5 .6 -1 9 .9 7 .2 2 2 .2 - 2 2 0 .2 196.4 2 0 .8 59.8 42.9 7.6 15.5 2 0 .1 2 2 .0 .7 2 2 .6 .6 .1 .6 .4 .4 - .5 0 .7 .4 .6 .7 0 20 .1 -.2 .6 .6 0 1 2 .2 52.3 7.5 .7 .7 .6 0 .6 .7 0 Addendum : Real disposable personal income, billions of chained (2000) dollars 2 ........... p Pr e lim in a r y r Re v ise d 1. Co n s is t s o f n on m o r t g ag e in t e rest p a id by h o u se h o ld s. 2 . Eq u a ls d is p o s a b le p e r s o n a l in co m e d e f la t ed b y t h e im p licit p r ice d e fla t o r f o r p e r so n a l co n su m p t io n e x p e n d it u r e s. T a b le 4.- -P e rs o n a l In c o m e an d Its D is p o s itio 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 of dollars] Seasonally adjusted at annual rates 2004 2004 2005' III 2005 IV I II III IV ' P ersonal Incom e ............................................................................................ 5 4 4 .2 5 3 5 .0 1 1 4 .9 2 9 5 .6 4 8 .6 1 1 2 .3 6 4 .7 C o m pensation o f e m plo ye es , received ................................................... 3 6 6 .5 4 3 7 .7 1 2 0 .6 1 7 1 .6 1 0 5 .9 5 8 .5 1 1 7 .4 84.1 Wage and sa lary d is b u rs e m e n ts ......................................................... Private industries ................................................................................ Goods-producing In d u s trie s ............................................................. M anu fa cturing .............................................................................. Servlces-producing industries ......................................................... Trade, transportation, and u tilitie s ............................................... Other services-producing in d u s trie s ............................................ G ov ern m ent......................................................................................... 2 7 8 .3 3 3 4 .3 1 0 3 .9 1 4 0 .9 6 7 .0 4 2 .4 242.2 42.7 19.0 199.5 41.1 158.4 36.2 302.1 70.8 34.3 231.3 56.0 175.3 32.1 98.9 26.7 18.5 72.0 16.8 55.2 5.1 9 0 .0 133.7 20.7 11.7 113.1 24.8 88.3 7.2 6 7 .8 55.2 16.2 7.5 38.9 6.7 32.2 36.9 82.3 8 .0 .2 2 2 .8 S up plem ents to w age s and s ala ries ................................................... Employer contributions for employee pension and insurance funds .... Employer contributions fo r governm ent social in s u ra n c e .................... 88.1 1 0 3 .5 1 6 .8 3 0 .6 65.5 22.7 79.5 23.9 10.4 6.4 2 3 3 .3 1 1 .8 29.1 13.3 15.8 5.5 9.2 59.5 11.7 47.7 7.7 60.5 16.3 7.9 44.1 8.4 35.8 7.3 3 8 .9 16.1 2 7 .4 21.7 9.0 30.4 8.5 1 6 .3 14.4 22.4 5.0 12.1 35.3 3.0 32.4 1.6 4.2 P ro p rie to rs ' inc om e w ith in v e n to ry v a lu a tio n and cap ita l c o n s u m p tio n a d ju s tm e n ts ............................................................................................ Farm ........................................................................................................ N o n fa rm ................................................................................................... 7 9 .4 49.1 -9 .3 1 1 .8 1 7 .0 -1 4 .4 5.2 -4 .2 -5.1 16.9 .1 71.4 -1 5 .0 64.0 1 8 .7 8.1 16.9 -5.1 23.9 - 1 .6 - 2 .8 R ental incom e o f p e rs o n s w ith cap ita l co n su m p tio n a d ju s tm e n t......... 2 .5 -6 1 .3 -1 9 .7 6 .6 -1 0 .7 -1 3 .6 -1 1 5 .5 9 1 .4 P ersonal incom e re c e ip ts o n asse ts ....................................................... Personal interest Income ......................................................................... Personal dividend in c o m e ........................................................................ 5 7 .8 6 0 .9 1 4 .3 1 1 5 .4 -8 5 .7 3 1 .9 29.1 -1 1 .7 69.5 39.8 -.4 8 .0 14.7 2 0 .6 2 1 .1 2.7 112.7 4 4 .0 -9 3 .7 11.3 15.2 13.8 28.9 15.3 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 b e n e fits ............... . Government unemployment insurance benefits .................................. . O t h e r ................................................................................................... . Other current transfer receipts, from business (net) ................................ 8 3 .5 9 7 .8 2 1 .7 7 .7 3 9 .6 2 0 .8 81.0 50.0 -1 6 .8 47.8 2.5 89.2 55.4 -7.1 40.9 6.3 4 8 .5 -1 3 .4 22.4 1 1 .8 20.7 14.2 -1 .4 8 .6 15.5 40.2 22.5 -3 .0 20.7 - .7 2 .8 8 .8 - 2 .0 -.6 28.3 8.5 1.2 18.7 -4 1 .7 -.9 11.4 -14 .6 8 .0 .1 7.9 .5 -5 .6 45.6 Less: C o n trib u tio n s fo r g o v e rn m e nt s o c ia l ins ura nc e ........................... 4 5 .6 4 9 .0 1 2 .9 1 7 .6 1 7 .5 3 .9 1 0 .5 8.2 Less: P ersonal cu rre n t t a x e s ......................................................................... 4 9 .2 1 6 0 .6 2 4 .4 3 5 .9 77.1 3 4 .6 1 4 .4 20. 6 E quals: D isposable perso na l inc om e ........................................................... 4 9 5 .0 3 7 4 .4 9 0 .6 2 5 9 .5 -2 8 .4 7 7 .7 5 0 .3 2 1 2 .7 Less: Personal o u tla ys .................................................................................. 5 1 6 .2 5 5 9 .6 1 2 7 .2 1 5 8 .7 1 2 9 .6 1 4 6 .6 1 7 2 .7 8 4 .6 Personal consumption e x p e n d itu re s ............................................................. Durable g o o d s .......................................................................................... Nondurable g o o d s .................................................................................... S e rv ic e s .................................................................................................... Personal interest pa ym ents 1 ....................................................................... ' Personal current transfer p a y m e n ts .............................................................. To g o v e rn m e n t......................................................................................... To the rest of the world (net) ................................................................... 504.4 37.7 179.3 287.4 3.5 531.4 38.7 196.1 296.7 19.2 8.9 117.6 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 82.2 -4 8 .8 37.6 93.3 8.1 6.5 1.7 1.1 2. 2 6 .2 2.7 1.6 - .1 - .1 1.6 1.5 -1 .7 6 .6 7.2 - 2 .0 1.4 -3 .4 167.0 15.4 71.2 80.5 4.8 1.5 - .5 1.9 .4 E quals: Personal sa vin g ................................................................................. -2 1 .0 -1 8 5 .3 -3 6 .6 1 0 0 .8 -1 5 8 .0 -6 8 .9 -1 2 2 .4 128.1 A d dendum : Real disposable personal income, billions of chained (2000) dollars 2 ......... 262.5 115.7 54.5 175.9 -71.1 4.5 -2 8 .4 132.2 8 .2 r R e v is e d 1. Co n s is t s o f n o n m o r t g ag e in t e r est p a id b y h o u se h o ld s. 2 . Eq u a ls d isp o sa b le p e r s o n a l in co m e d e f lat ed b y t h e im p licit p r ice d e flat o r f o r p e r s o n a l co n s u m p t io n e x p e n d it u r e s 8.1 1.5 6 6 .0 .1 T a b le 5 — P e rs o n a l In c o m e an d Its D is p o s itio n , P e rc e n t C h a n g e fro m P rec ed in g P erio d (M o n th s ) Seasonally adjusted at monthly rates 2005 July Aug. Sep. 2006 O c t.r N o v.r D e c .r J a n .r Feb . / 1 Based on current-dollar measures 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 re c e ip ts ................................................................... 0 .5 -2 .0 3.1 0 .5 0.3 0 .5 0 .7 0 .3 .9 .9 .3 .6 .6 .5 .5 .3 .1 .1 .2 .4 .5 .3 .8 .4 .7 1.3 .6 .3 -5 1 .7 43 .6 .4 -4 7 2 0 .2 - .1 1.1 .2 .6 .2 -5 .9 .7 7.5 -3 .2 .6 .3 1 .0 -.8 Less: Contributions for governm ent social insurance ..................................... .5 .3 .9 8.9 .4 0 ? Q .5 1.2 1 .2 1.2 .3 1.3 1.3 1.3 .9 - 8 .1 1 .0 .6 1 .0 - .2 1.0 8 7 .4 1 .8 .3 .2 -1 .7 .1 .4 .5 .4 2 .1 .4 L e s s : P e rs o n a l c u r r e n t t a x e s ................................................................................ .1 .2 .5 .9 .3 .6 1.9 .8 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 ...................................................................... .6 -2 .3 3.4 .5 .3 .5 .6 .2 Personal consumption expenditures ............................................................... Durable g o o d s ............................................................................................ Nondurable goods ...................................................................................... S e rv ic e s ...................................................................................................... 1.4 - .4 -8 .7 1.4 .4 .4 -4 .0 .3 - 2 .6 .6 .6 .1 .8 1 .2 2 .0 -1 .9 1 .6 .7 .5 3 .7 - 1.0 .6 .7 7 .5 .8 .4 .4 .1 .9 .5 .1 .2 0 A ddenda: 4.0 .1 -.6 Based on chained (2000) dollar measures I Real disposable personal in c o m e .................................................................. .3 2.5 - 2 .7 .3 .7 p Pr e lim in a r y r Re v ise d T a b le 6.— P e rso n al In c o m e an d Its D is p o s itio n , P e rc e n t C h a n g e fro m P rec ed in g P erio d (Y e ars an d Q u arters) Seasonally adjusted at annual rates 2004 2005 r 2004 III 2005 IV I II III IV -• Based on current-dollar measures P e rs o n a l in c o m e ............................................................................................................. 5 .9 5 .5 4 .9 1 2 .7 2 .0 4 .5 2 .6 9 .4 5.8 5.4 7:3 6.5 7.5 8 .0 6.3 4.9 5.3 9.8 12 .2 3.4 3.0 4.8 6 .8 6 .2 8 .0 1 0 .6 1 0 .8 8.1 4.8 4.8 4.7 9.8 1.9 4.3 -1 .3 16.5 5.5 -45 .7 4.4 4.4 4.3 -4 .0 -4 4 .9 4.3 5.4 23.6 37.9 16.0 1 .2 6 .8 13.5 6.3 134.9 6 .2 8.4 -38 .6 9.4 9.3 9.5 5.7 - 1 .8 -.2 7.8 -29.5 - 2 1 .0 3.6 -50 .2 11.4 8.3 6.7 11.4 13.5 12.7 12.3 -3 .4 Less: Contributions for government social insurance ..................................... 5.9 6 .0 6.5 8 .8 8.5 1.8 4.9 3.8 L e s s : P e rs o n a l c u r r e n t t a x e s ...................................................................................... 4 .9 1 5 .3 9 .8 1 4 .3 3 1 .3 1 2 .4 4 .8 6 .9 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 ...................................................................... 6.1 4 .3 4 .3 1 2 .5 -1 .3 3 ,5 2 .3 9 .8 Personal consumption e x p e n d itu re s ............................................................... Durable g o o d s ............................................................................................ Nondurable g o o d s ...................................................................................... Services .................................................................................................. 6.5 4.0 5.9 7.6 8.1 6.1 5.8 3.5 8 .2 6.5 3.9 8.3 6.3 6.1 4.0 6.4 10.3 6.7 5.9 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 s a la rie s .......................................................... Proprietors' income with inventory valuation and capital consumption adjustments ................................................................................................ Rental income of persons with capital consumption adjustment .................... Personal income receipts on a s s e ts ............................................................... Personal interest Income ....................................................................... Personal dividend in c o m e .......................................................................... Personal current transfer re c e ip ts ................................................................... 2 .2 6.5 1 2 .6 A ddenda: 6 .6 6 .8 7.9 7.3 9.5 5.3 6.1 11.7 6.5 3.8 -1 7 .3 5.9 7.4 2 -1 .4 6.7 Based on chained (2000) dollar measures Real disposable personal in c o m e .................................................................. r Re v ise d 3.4 1.4 2 .8 9.1 -3 .4 T a b le 7.— R eal P e rso n al C o n s u m p tio n E x p en d itu res b y M a jo r T y p e o f P ro d u ct (M o n th s) 2005 July Aug. Sep. 2006 O c t.r N ov.r D e c.r Feb .p J a n .1' 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 ,9 6 7 .5 7 ,8 9 9 .2 7 ,8 5 6 .9 7 ,8 5 9 .1 7 ,9 3 0 .2 7 ,9 8 6 .8 1,255.9 2,306.1 4,443.7 1,149.8 2,314.5 4,452.2 8 ,0 1 2 .0 1,103.6 2,296.7 4,464.5 1,074.9 2,316.7 4,468.7 8 ,0 2 0.1 1,116.4 2,338.8 4,483.8 1,161.9 2,347.2 4,495.1 1,174.7 2,371.1 4,486.8 1,153.9 2,360.2 4,520.6 Change from preceding period in billions o f 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 .......................................................................................... 8 5 .4 -6 8 .3 -4 2 .3 2 .2 71.1 92.4 5 6 .6 -106.1 8.4 8.5 2 5 .2 -4 6 .2 -1 7 .8 12.3 -2 8 .7 8.1 41.5 1 2 .8 -2 0 8 2 0 .0 22 .1 4.2 15.1 45.5 8.4 11.3 23.9 -8 .3 -1 0 .9 33.8 1.8 8.7 Percent change from preceding period in chained (2000) dollars, seasonally adjusted at m onthly rates ..................................................... 1.1 -.9 -.5 Durable goods ................................................................................ Nondurable goods .......................................................................... Services .......................................................................................... 0 .9 .7 .3 .1 7.9 -8 .5 .4 -4 .0 - 2 .6 3.9 .9 1 .0 .3 .1 .3 1.1 1 .0 -.2 -1 8 .2 4.1 .4 .3 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 .1 .2 -.8 -5 .8 p Pr e lim in a r y r Re v ise d T a b le 8.— R eal P erso n al C o n s u m p tio n E x p e n d itu re s b y M ajo r T y p e o f P ro d u c t (Y ears an d Q u arters) f ------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates 2004 2004 2005r III 2005 IV II 1 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 re s ..................................................... 7 ,5 8 8 .6 7 ,8 5 6 .9 7 ,6 1 7 .5 Durable goods ................................................................................ Nondurable goods .......................................................................... Services .......................................................................................... 7 ,6 9 8 .8 7 ,7 6 4 .9 1,089.9 2,200.4 4,310.9 7 ,8 2 9 .5 7 ,9 0 7 .9 7 ,9 2 5 .4 1,138.4 2,297.9 4,436.4 1,100.4 2,206.9 4,324.0 1,115.1 2,236.5 4,362.1 1,122.3 2,265.6 4,392.0 1,143.9 2,285.9 4,417.6 1,169.7 2,305.8 4,453.5 1,117.7 2,334.2 4,482.6 Change from preceding period in billions of chained (2 0 0 0 ) 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 8 .3 8 0 .9 8 1 .3 66.1 61.4 98.6 127.0 6 4 .6 7 8 .4 1 7 .5 48.5 97.5 125.5 27.9 14.7 29.6 38.1 7.2 29.1 29.9 2 1 .6 25.8 19.9 35.9 -52 .0 28.4 29.1 2 0 .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 re s ..................................................... 3 .9 Durable goods ................................................................................ Nondurable goods .......................................................................... Services .......................................................................................... 3 .5 4 .4 4 .3 3 .5 3 .4 4.5 4.4 2.9 .9 1 0 .8 5.5 5.5 3.6 4.1 6 .0 2 .6 7.9 3.6 2.3 9.3 3.5 3.3 -16.6 5.0 r Re v ise d 4.7 3.0 3.9 3.4 5.3 2 .8 2 .6 t T a b le 9 — P rice In d e x e s fo r P e rs o n a l C o n s u m p tio n E x p en d itu re s: L evel an d P e rc e n t C h an g e F ro m P reced in g P erio d (M o n th s) 2005 Aug. July Sep. 2006 O c t.' N o v .' D e c .' J a n .' Feb.e 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 11 .1 8 1 1 11 .6 5 1 1 1 2 .7 0 7 1 1 2 .9 6 4 1 1 2 .4 7 7 1 1 2 .4 7 0 1 1 3 .0 1 4 89.979 111.318 116.154 89.742 112.499 116.442 89.795 115.138 116.929 1 1 3 .0 6 4 89.804 114.769 117.568 89.637 112.574 117.892 89.537 112.310 118.042 89.602 113.386 118.429 89.489 113.180 118.655 109.264 110.213 107.657 109.428 110.704 107.787 109.658 111.834 107.946 109.936 112.034 108.156 1 1 0 .1 0 1 111.430 108.304 110.249 111.394 108.447 110.427 111.940 108.555 110.567 111.961 108.676 A ddenda: PCE excluding food and e n e rg y ..................................................................... Market-based P C E 1 .............................................................................. Market-based PCE excluding food and e n e rg y 1 ................................... Percent change from preceding period in price Indexes, seasonally adjusted at monthly rates P C E ................................................................................................................................. Durable goods ..................................................................................... Nondurable goods ....................................................................................... Services ................................................................................................... .3 .4 .9 - .4 .7 - .3 .1 .2 1.1 .2 2.3 .4 .1 .2 .3 .4 .2 1 .0 .1 .2 -.4 0 .5 0 -.2 -.1 1 - .3 -1 .9 .3 - .2 .1 1 .0 -.2 .3 .2 .3 .2 .2 .2 - .5 .1 0 .1 .5 0 -1 A ddenda: PCE excluding food and e n e rg y .............................................................. Market-based P C E 1 ..................................................................................... Market-based PCE excluding food and e n e rg y 1 ................................... .1 0 .1 .1 .2 o .5 .1 .1 p Pr e lim in a r y r Re v is e d 1. T h is in d e x is a su p p le m e n t a l m e a su r e t h at is b a se d o n h o u se h o ld e x p e n d it u r e s f o r w h ich t h e r e a r e o b se r v a b le p r ice m e a s u r e s. It e x clu d e s m o st im p licit p r ice s ( f or e x a m p le , t h e s e r v ic e s f u r n ish e d w it h o u t p a y m e n t b y f in a n cial in t e r m e d ia r ie s) a n d t h e e x p e n se s o f n o n p r of it in st it u t ion s. T a b le 10.— R eal D is p o s ab le P ers o n a l In co m e an d R ea l P e rs o n a l C o n s u m p tio n E x p en d itu re s : P erc en t C h an g e From M o n th O n e Y e a r A go 2005 July Aug. Sep. 2006 O c t.' N o v .' D e c .' J a n .' Feb.? D is p o s a b le p e r s o n a l i n c o m e ................................................................................ 2 .3 -0 .9 1 .6 1 .4 1 .7 -1 .6 2 .2 2 .2 P e r s 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 ........................................................................ 4 .7 3 .8 2 .9 2 .5 3 .2 3 .2 13.1 5.0 3.0 5.0 5.2 3.0 .7 3.3 3.0 3 .5 3 .2 -2 .3 3.6 .9 4.8 2 .8 2 .8 Durable goods ............................................................................................... Nondurable goods .......................................................................................... Services ........................................................................................................ 2.1 6 .2 2 .8 4.8 2.7 4.7 2.4 3.7 3.0 p Pr e lim in a r y r Re v ise d T a b le 11.— P rice In d ex es fo r P e rs o n a l C o n s u m p tio n E x p en d itu re s : P e rc e n t C h an g e F ro m M on th O n e Y e a r A g o 2005 July P ers on al co n su m p tio n exp end itures (PCE) ........................................... Durable goods ................................................................................................ Nondurable goods ......................................................................................... Services ......................................................................................................... A dde nd a: PCE excluding food and e n e rg y ..................................................................... Market-based P C E 1 ....................................................................................... Market-based PCE excluding food and e n e rg y 1 ............................................ p Pr e lim in a r y r Re v is e d 1. T h is in d e x is a su p p le m e n t al m e a su r e t hat is b a se d o n h o u se h o ld e x p e n d it u r e s f or w h ich t h e r e a r e o b se r v a b le p r ice m e a s u r e s. It e x clu d e s m o st im p licit p r ice s ( for e x a m p le , t h e s e r v ic e s f u r n ish e d w it h o u t p a y m e n t b y f in a n cial i n t e r m e d ia r ie s ) a n d t h e e x p e n se s o f n o n p r of it in st it u t ion s. Aug. 2 .6 -.6 3.3 2.9 1.9 2.4 1.6 Sep. 2.9 - .5 4.4 2.9 2006 O c t.' 3.8 - .5 3.2 3.5 - .7 5.2 3.5 2 .0 2 .0 2 .0 2.9 1.7 3.8 1.7 3.5 1.7 6 .8 N o v .' D e c .' 2.9 - 1.2 3.7 3.3 2 .0 1 .8 2.7 1.7 3.1 1.5 1.8 2 .8 2 .8 - 1.1 3.3 3.3 1.6 Feb.? 3.1 -1 .3 4.3 3.4 2 .8 -.9 3.1 3.4 1.9 2.7 J a n .' 1.5