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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, AUGUST 30, 2013 BEA 13-39 James Rankin: (202) 606-5301 Harvey Davis: (202) 606-5302 (Personal Income) (Personal Consumption Expenditures) piniwd@bea.gov pce@bea.gov PERSONAL INCOME AND OUTLAYS: JULY 2013 Personal income increased $14.1 billion, or 0.1 percent, and disposable personal income (DPI) increased $21.7 billion, or 0.2 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $16.3 billion, or 0.1 percent. In June, personal income increased $38.2 billion, or 0.3 percent, DPI increased $27.3 billion, or 0.2 percent, and PCE increased $64.0 billion, or 0.6 percent, based on revised estimates. Real disposable income increased 0.1 percent in July, in contrast to a decrease of 0.2 percent in June. Real PCE increased less than 0.1 percent, compared with an increase of 0.2 percent. 2013 Mar. Apr. May June (Percent change from preceding month) Personal income, current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars July 0.3 0.0 0.3 0.3 0.1 0.3 0.4 -0.1 0.2 0.3 0.2 0.2 -0.2 0.2 0.1 0.2 0.3 -0.2 0.0 0.2 0.1 0.6 0.2 0.1 0.0 This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for January through March 2013 (first quarter). These estimates reflect the incorporation of the most recently available first-quarter wage and salary tabulations from the quarterly census of employment and wages from the Bureau of Labor Statistics. NOTE. Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Month-tomonth percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2009) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- Wages and salaries Private wages and salaries decreased $15.3 billion in July, in contrast to an increase of $31.3 billion in June. Goods-producing industries' payrolls decreased $4.2 billion, in contrast to an increase of $7.6 billion; manufacturing payrolls decreased $3.7 billion, in contrast to an increase of $5.3 billion. Services-producing industries' payrolls decreased $11.2 billion, in contrast to an increase of $23.8 billion. Government wages and salaries decreased $6.4 billion in July, compared with a decrease of $0.8 billion in June. Government wages were reduced by $7.7 billion in July and $0.7 billion in June due to furloughs that impacted several federal government agencies. Other personal income Supplements to wages and salaries decreased $0.1 billion in July, in contrast to an increase of $3.4 billion in June. Proprietors' income increased $7.4 billion in July, in contrast to a decrease of $22.2 billion in June. Farm proprietors' income increased $6.2 billion, in contrast to a decrease of $24.6 billion. Nonfarm proprietors' income increased $1.1 billion, compared with an increase of $2.4 billion. Rental income of persons increased $7.9 billion in July, compared with an increase of $2.7 billion in June. Personal income receipts on assets (personal interest income plus personal dividend income) increased $13.3 billion, compared with an increase of $22.1 billion. Personal current transfer receipts increased $4.4 billion, compared with an increase of $5.5 billion. Contributions for government social insurance -- a subtraction in calculating personal income -decreased $2.8 billion in July, in contrast to an increase of $3.6 billion in June. Personal current taxes and disposable personal income Personal current taxes decreased $7.8 billion in July, in contrast to an increase of $11.0 billion in June. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $21.7 billion, or 0.2 percent, in July, compared with an increase of $27.3 billion, or 0.2 percent in June. -more- -3- Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $18.4 billion in July, compared with an increase of $59.7 billion in June. PCE increased $16.3 billion, compared with an increase of $64.0 billion. Personal saving -- DPI less personal outlays -- was $544.5 billion in July, compared with $541.2 billion in June. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.4 percent in July, the same as in June. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp. Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.1 percent in July, in contrast to a decrease of 0.2 percent in June. Real PCE -- PCE adjusted to remove price changes – increased less than 0.1 percent in July, compared with an increase of 0.2 percent in June. Purchases of durable goods increased 0.1 percent, compared with an increase of 0.9 percent. Purchases of nondurable goods increased 0.5 percent, compared with an increase of 0.1 percent. Purchases of services decreased 0.1 percent, in contrast to an increase of less than 0.1 percent. The price index for PCE increased 0.1 percent in July, compared with an increase of 0.4 percent in June. The PCE price index, excluding food and energy, increased 0.1 percent, compared with an increase of 0.2 percent. -more- -4- Revisions Estimates for personal income and DPI have been revised for January through June; estimates for PCE have been revised for April through June. Changes in personal income, current-dollar and chained (2009) dollar DPI, and current-dollar and chained (2009) dollar PCE for May and June -revised and as published in last month's release -- are shown below. Estimates of wages and salaries were revised from January through June. The revision to firstquarter wages and salaries reflect the incorporation of the most recently available BLS tabulations of the first-quarter wages and salaries from the quarterly census of employment and wages. Revised estimates for April, May, and June reflect extrapolations from the revised first-quarter level of wages. In addition, revisions to May and June reflect revised BLS employment, hours, and earnings data for those months. Change from preceding month May Previous Revised (Billions of dollars) June Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) Personal Income: Current dollars 49.5 45.0 0.4 0.3 45.4 38.2 0.3 0.3 Disposable personal income: Current dollars Chained (2009) dollars 38.2 24.4 34.0 20.4 0.3 0.2 0.3 0.2 33.6 -14.5 27.3 -21.9 0.3 -0.1 0.2 -0.2 Personal consumption expenditures: Current dollars 19.3 Chained (2009) dollars 7.7 20.8 8.9 0.2 0.1 0.2 0.1 59.4 13.1 64.0 16.1 0.5 0.1 0.6 0.2 BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Next release – September 27, 2013 at 8:30 A.M. EDT for Personal Income and Outlays for August -more- Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2012 Dec. 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 1 .............................................................................. 24 Medicare 2 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 3 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 4 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 4 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 5...................................................... 2013 Jan. r Feb. r March r April r Line May r June r July p 14,420.2 13,791.7 13,969.3 14,016.8 14,017.7 14,062.7 14,100.9 14,115.0 1 8,910.3 8,705.8 8,762.6 8,776.4 8,788.7 8,806.2 8,840.2 8,818.3 2 7,200.8 7,001.5 7,053.7 7,065.9 7,075.2 7,090.3 7,120.8 7,099.0 3 6,000.1 5,803.5 5,857.5 5,872.5 5,880.8 5,895.5 5,926.8 5,911.5 4 1,197.4 1,163.7 1,178.4 1,179.4 1,179.7 1,184.3 1,191.9 1,187.7 5 761.2 736.1 745.2 745.1 745.4 747.4 752.7 749.0 6 4,802.6 4,639.8 4,679.2 4,693.1 4,701.0 4,711.2 4,735.0 4,723.8 7 1,123.6 1,107.0 1,116.1 1,122.5 1,120.7 1,124.6 1,126.7 1,124.7 8 3,679.0 3,532.8 3,563.1 3,570.6 3,580.3 3,586.6 3,608.3 3,599.0 9 1,200.7 1,198.0 1,196.1 1,193.3 1,194.4 1,194.8 1,194.0 1,187.6 10 1,709.5 1,704.3 1,708.9 1,710.6 1,713.5 1,715.9 1,719.3 1,719.2 11 1,177.4 1,180.8 1,182.2 1,183.4 1,185.9 1,187.7 1,189.4 1,191.0 12 532.2 523.5 526.7 527.2 527.6 528.3 529.9 528.2 13 1,256.9 1,293.9 1,339.4 1,370.6 1,352.3 1,334.9 1,312.7 1,320.1 14 73.4 105.2 137.0 168.9 144.3 119.7 95.1 101.3 15 1,183.5 1,188.7 1,202.3 1,201.7 1,208.0 1,215.2 1,217.6 1,218.7 16 556.9 565.6 574.9 584.2 585.1 587.6 590.3 598.2 17 2,269.0 1,895.9 1,960.0 1,951.5 1,974.0 1,999.9 2,022.0 2,035.3 18 1,239.1 1,227.4 1,215.8 1,204.1 1,217.0 1,229.9 1,242.7 1,239.2 19 1,029.9 668.5 744.2 747.4 757.0 770.0 779.3 796.1 20 2,408.8 2,419.4 2,427.8 2,430.9 2,415.5 2,433.6 2,439.1 2,443.5 21 2,368.8 2,375.5 2,383.9 2,386.7 2,371.3 2,389.2 2,394.5 2,398.8 22 781.1 785.0 789.0 795.4 785.8 797.3 801.6 799.1 23 582.2 586.8 591.1 590.1 584.4 587.0 590.4 594.1 24 426.6 423.5 423.6 424.0 422.2 425.1 423.8 429.1 25 78.3 75.6 73.8 72.3 70.4 68.9 65.8 63.0 26 73.9 76.1 78.2 76.1 78.0 80.3 81.6 80.7 27 426.6 428.6 428.1 429.0 430.5 430.6 431.4 432.7 28 40.0 43.8 44.0 44.1 44.3 44.4 44.5 44.7 29 981.6 1,088.9 1,095.4 1,096.8 1,097.9 1,099.6 1,103.2 1,100.4 30 1,591.0 1,612.9 1,632.6 1,641.5 1,653.8 1,664.8 1,675.8 1,668.0 31 12,829.2 12,178.7 12,336.7 12,375.2 12,363.9 12,397.9 12,425.2 12,446.9 32 11,709.3 11,734.4 11,812.8 11,837.5 11,807.9 11,824.3 11,884.0 11,902.4 33 11,300.6 11,321.4 11,397.1 11,419.0 11,394.7 11,415.5 11,479.5 11,495.8 34 3,827.6 3,826.8 3,872.2 3,856.4 3,824.1 3,839.8 3,883.3 3,903.2 35 1,244.0 1,243.5 1,246.3 1,244.7 1,250.1 1,254.9 1,266.5 1,264.0 36 2,583.5 2,583.2 2,625.9 2,611.7 2,574.0 2,584.9 2,616.8 2,639.2 37 7,473.1 7,494.7 7,524.9 7,562.6 7,570.6 7,575.7 7,596.2 7,592.5 38 245.1 247.8 250.4 253.1 248.5 244.0 239.4 241.3 39 163.5 165.2 165.3 165.4 164.6 164.8 165.0 165.3 40 89.2 89.3 89.4 89.5 89.7 89.9 90.1 90.4 41 74.4 75.9 75.9 75.9 74.9 74.9 74.9 74.9 42 1,119.9 444.4 523.9 537.7 556.0 573.6 541.2 544.5 43 8.7 3.6 4.2 4.3 4.5 4.6 4.4 4.4 44 11,269.4 10,662.0 10,778.3 10,830.2 10,873.7 10,888.1 10,874.4 10,873.3 45 12,036.5 11,418.1 11,520.9 11,568.0 11,587.6 11,608.0 11,586.1 11,595.7 46 40,683 38,170 315,341 38,601 36,190 315,507 39,081 36,497 315,668 39,182 36,626 315,838 39,124 36,668 316,019 39,209 36,711 316,202 39,271 36,619 316,395 39,314 47 36,626 48 316,600 49 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2011 2012 2012 I 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 1 .............................................................................. 24 Medicare 2 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 3 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 4 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 4 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 5...................................................... II 2013 III IV I r Line II r 13,191.3 13,743.8 13,548.6 13,651.8 13,701.6 14,073.1 13,925.9 14,060.4 1 8,278.5 8,611.6 8,514.3 8,553.8 8,591.0 8,787.4 8,748.3 8,811.7 2 6,638.7 6,926.8 6,842.2 6,873.5 6,904.7 7,086.6 7,040.4 7,095.4 3 5,444.3 5,729.4 5,642.8 5,678.0 5,709.7 5,887.2 5,844.5 5,901.0 4 1,102.1 1,154.0 1,149.2 1,153.2 1,146.7 1,167.0 1,173.8 1,185.3 5 707.1 735.4 733.2 735.7 732.3 740.5 742.1 748.5 6 4,342.2 4,575.4 4,493.6 4,524.8 4,563.0 4,720.3 4,670.7 4,715.7 7 1,046.2 1,093.7 1,086.8 1,083.8 1,090.0 1,114.2 1,115.2 1,124.0 8 3,296.0 3,481.7 3,406.8 3,441.0 3,473.0 3,606.1 3,555.5 3,591.7 9 1,194.4 1,197.3 1,199.4 1,195.5 1,195.1 1,199.3 1,195.8 1,194.4 10 1,639.8 1,684.9 1,672.1 1,680.3 1,686.2 1,700.9 1,707.9 1,716.3 11 1,145.4 1,170.6 1,162.2 1,169.1 1,174.1 1,176.8 1,182.1 1,187.7 12 494.4 514.3 509.9 511.2 512.2 524.0 525.8 528.6 13 1,155.1 1,224.9 1,214.4 1,217.8 1,220.0 1,247.5 1,334.6 1,333.3 14 72.6 75.4 74.6 77.0 75.3 74.5 137.0 119.7 15 1,082.6 1,149.6 1,139.7 1,140.8 1,144.7 1,173.0 1,197.6 1,213.6 16 484.4 541.2 524.8 537.8 546.7 555.4 574.9 587.7 17 1,884.6 1,958.5 1,909.1 1,935.3 1,926.9 2,062.8 1,935.8 1,998.6 18 1,204.1 1,211.6 1,204.9 1,219.4 1,203.7 1,218.4 1,215.8 1,229.9 19 680.5 746.9 704.2 715.9 723.2 844.3 720.0 768.7 20 2,306.9 2,358.3 2,328.5 2,352.2 2,364.4 2,388.0 2,426.0 2,429.4 21 2,260.3 2,316.8 2,285.2 2,310.5 2,323.8 2,347.9 2,382.0 2,385.0 22 713.3 762.2 753.3 760.4 764.8 770.2 789.8 794.9 23 537.0 560.8 547.7 554.2 564.0 577.2 589.3 587.3 24 405.5 417.1 400.8 420.9 421.5 425.1 423.7 423.7 25 107.6 84.2 96.8 85.9 78.7 75.3 73.9 68.4 26 63.3 70.2 67.1 68.9 71.3 73.3 76.8 80.0 27 433.7 422.5 419.5 420.3 423.5 426.8 428.6 430.8 28 46.7 41.4 43.3 41.7 40.6 40.1 44.0 44.4 29 918.2 950.7 942.5 945.1 947.4 967.9 1,093.7 1,100.2 30 1,404.0 1,498.0 1,462.8 1,480.0 1,496.4 1,552.8 1,629.0 1,664.8 31 11,787.4 12,245.8 12,085.7 12,171.9 12,205.1 12,520.4 12,296.9 12,395.6 32 11,119.1 11,558.4 11,428.4 11,507.9 11,601.0 11,696.2 11,794.9 11,838.7 33 10,711.8 11,149.6 11,019.1 11,100.2 11,193.6 11,285.5 11,379.2 11,429.9 34 3,602.7 3,769.7 3,729.3 3,738.4 3,784.9 3,826.1 3,851.8 3,849.1 35 1,129.9 1,202.7 1,184.3 1,189.3 1,206.5 1,230.7 1,244.8 1,257.2 36 2,472.8 2,567.0 2,545.0 2,549.2 2,578.4 2,595.4 2,607.0 2,591.9 37 7,109.1 7,379.9 7,289.7 7,361.8 7,408.7 7,459.4 7,527.4 7,580.8 38 248.0 248.4 248.6 247.0 250.7 247.3 250.4 244.0 39 159.4 160.4 160.7 160.8 156.7 163.4 165.3 164.8 40 85.3 88.5 87.7 88.4 88.8 89.0 89.4 89.9 41 74.1 71.9 73.0 72.4 67.9 74.4 75.9 74.9 42 668.2 687.4 657.3 663.9 604.1 824.1 502.0 556.9 43 5.7 5.6 5.4 5.5 4.9 6.6 4.1 4.5 44 10,457.1 10,740.1 10,638.4 10,685.5 10,676.2 10,959.6 10,756.9 10,878.8 45 11,324.6 11,551.6 11,459.2 11,510.2 11,493.6 11,743.0 11,502.4 11,593.9 46 37,776 36,293 312,036 38,965 36,756 314,278 38,560 36,561 313,425 38,769 36,661 313,960 38,800 36,538 314,564 39,727 37,260 315,162 38,955 36,438 315,671 39,201 47 36,666 48 316,206 49 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2012 Dec. 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 1 .............................................................................. 24 Medicare 2 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 3 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 4 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 4.......... 2013 Jan. r Feb. r March r April r Line May r June r July p 436.3 133.1 123.5 122.3 36.8 26.0 85.4 7.0 78.4 1.3 9.5 0.5 9.2 –628.5 –204.5 –199.3 –196.6 –33.7 –25.1 –162.8 –16.6 –146.2 –2.7 –5.2 3.4 –8.7 177.6 56.8 52.2 54.0 14.7 9.1 39.4 9.1 30.3 –1.9 4.6 1.4 3.2 47.5 13.8 12.2 15.0 1.0 –0.1 13.9 6.4 7.5 –2.8 1.7 1.2 0.5 0.9 12.3 9.3 8.3 0.3 0.3 7.9 –1.8 9.7 1.1 2.9 2.5 0.4 45.0 17.5 15.1 14.7 4.6 2.0 10.2 3.9 6.3 0.4 2.4 1.8 0.7 38.2 34.0 30.5 31.3 7.6 5.3 23.8 2.1 21.7 –0.8 3.4 1.7 1.6 14.1 –21.9 –21.8 –15.3 –4.2 –3.7 –11.2 –2.0 –9.3 –6.4 –0.1 1.6 –1.7 1 2 3 4 5 6 7 8 9 10 11 12 13 7.9 –1.1 9.0 0.6 282.6 21.5 261.0 27.4 27.4 14.1 5.1 1.3 6.0 0.7 0.2 0.0 15.2 45.0 391.4 9.1 10.8 1.8 7.8 –6.1 9.1 –1.9 0.1 0.2 0.0 382.3 37.0 31.8 5.2 8.7 –373.1 –11.7 –361.4 10.6 6.7 3.9 4.6 –3.1 –2.7 2.2 2.0 3.8 107.3 21.9 –650.5 25.1 20.8 –0.8 –0.5 –0.3 21.6 2.7 1.7 0.1 1.5 –675.5 45.5 31.8 13.6 9.3 64.1 –11.6 75.7 8.4 8.4 4.0 4.3 0.1 –1.8 2.1 –0.5 0.2 6.5 19.7 158.0 78.4 75.7 45.4 2.8 42.7 30.2 2.6 0.1 0.1 0.0 79.5 31.2 31.9 –0.6 9.3 –8.5 –11.7 3.2 3.1 2.8 6.4 –1.0 0.4 –1.5 –2.1 0.9 0.1 1.4 8.9 38.5 24.7 21.9 –15.8 –1.6 –14.2 37.7 2.7 0.1 0.1 0.0 13.8 –18.3 –24.6 6.3 0.9 22.5 12.9 9.6 –15.4 –15.4 –9.6 –5.7 –1.8 –1.9 1.9 1.5 0.2 1.1 12.3 –11.3 –29.6 –24.3 –32.3 5.4 –37.7 8.0 –4.6 –0.8 0.2 –1.0 18.3 –17.4 –24.6 7.2 2.5 25.9 12.9 13.0 18.1 17.9 11.5 2.6 2.9 –1.5 2.3 0.1 0.1 1.7 11.0 34.0 16.4 20.8 15.7 4.8 10.9 5.1 –4.5 0.2 0.2 0.0 17.6 –22.2 –24.6 2.4 2.7 22.1 12.8 9.3 5.5 5.3 4.3 3.4 –1.3 –3.1 1.3 0.8 0.1 3.6 11.0 27.3 59.7 64.0 43.5 11.6 31.9 20.5 –4.6 0.2 0.2 0.0 –32.4 7.4 6.2 1.1 7.9 13.3 –3.5 16.8 4.4 4.3 –2.5 3.7 5.3 –2.8 –0.9 1.3 0.2 –2.8 –7.8 21.7 18.4 16.3 19.9 –2.5 22.4 –3.7 1.9 0.3 0.3 0.0 3.3 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 382.6 365.8 –607.4 –618.4 116.3 102.8 51.9 47.1 43.5 19.6 14.4 20.4 –13.7 –21.9 –1.1 44 9.6 45 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 1 .............................................................................. 24 Medicare 2 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 3 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 4 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 4.......... 2011 2012 2012 I II 2013 III IV I r Line II r 756.1 311.2 261.2 257.9 48.8 33.0 209.1 47.3 161.8 3.3 50.0 25.0 25.0 552.5 333.1 288.1 285.1 51.9 28.3 233.2 47.5 185.7 2.9 45.1 25.2 19.9 245.4 207.4 184.0 175.6 45.7 26.9 129.9 31.0 99.0 8.4 23.4 7.8 15.6 103.2 39.5 31.3 35.2 4.0 2.5 31.2 –3.0 34.2 –3.9 8.2 6.9 1.3 49.8 37.2 31.2 31.7 –6.5 –3.4 38.2 6.2 32.0 –0.4 5.9 5.0 1.0 371.5 196.4 181.9 177.5 20.3 8.2 157.3 24.2 133.1 4.2 14.7 2.7 11.8 –147.2 –39.1 –46.2 –42.7 6.8 1.6 –49.6 1.0 –50.6 –3.5 7.0 5.3 1.8 134.5 63.4 55.0 56.5 11.5 6.4 45.0 8.8 36.2 –1.4 8.4 5.6 2.8 1 2 3 4 5 6 7 8 9 10 11 12 13 122.4 26.6 95.9 81.6 145.0 9.1 135.9 30.0 26.3 23.1 23.2 8.9 –31.3 5.3 –2.8 3.7 –65.9 212.5 543.7 509.6 509.9 239.9 59.2 180.7 270.0 –2.8 2.5 1.4 1.1 34.0 69.8 2.8 67.0 56.8 73.9 7.5 66.4 51.4 56.5 48.9 23.8 11.6 –23.4 6.9 –11.2 –5.3 32.5 94.0 458.4 439.3 437.8 167.0 72.8 94.2 270.8 0.4 1.0 3.2 –2.2 19.2 26.4 –2.3 28.6 11.3 3.7 5.3 –1.5 20.0 22.4 32.1 3.9 2.5 –3.4 2.7 –15.5 –2.4 23.4 44.4 200.9 143.2 140.2 61.1 25.4 35.7 79.0 4.1 –1.1 0.9 –2.0 57.7 3.4 2.4 1.1 13.0 26.2 14.5 11.7 23.7 25.3 7.1 6.5 20.1 –10.9 1.8 0.8 –1.6 2.6 17.2 86.2 79.5 81.1 9.1 5.0 4.2 72.1 –1.6 0.1 0.7 –0.6 6.6 2.2 –1.7 3.9 8.9 –8.4 –15.7 7.3 12.2 13.3 4.4 9.8 0.6 –7.2 2.4 3.2 –1.1 2.3 16.4 33.2 93.1 93.4 46.5 17.2 29.2 46.9 3.7 –4.1 0.4 –4.5 –59.8 27.5 –0.8 28.3 8.7 135.9 14.7 121.1 23.6 24.1 5.4 13.2 3.6 –3.4 2.0 3.3 –0.5 20.5 56.4 315.3 95.2 91.9 41.2 24.2 17.0 50.7 –3.4 6.7 0.2 6.5 220.0 87.1 62.5 24.6 19.5 –127.0 –2.6 –124.3 38.0 34.1 19.6 12.1 –1.4 –1.4 3.5 1.8 3.9 125.8 76.2 –223.5 98.7 93.7 25.7 14.1 11.6 68.0 3.1 1.9 0.4 1.5 –322.1 –1.3 –17.3 16.0 12.8 62.8 14.1 48.7 3.4 3.0 5.1 –2.0 0.0 –5.5 3.2 2.2 0.4 6.5 35.8 98.7 43.8 50.7 –2.7 12.4 –15.1 53.4 –6.4 –0.5 0.5 –1.0 54.9 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 464.1 263.8 283.0 227.0 154.9 126.9 47.1 51.0 –9.3 –16.6 283.4 249.4 –202.7 –240.6 121.9 44 91.5 45 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2012 Dec. 2013 Jan. r Feb. r March r April r Line May r June r July p Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... 5 Proprietors’ income with inventory valuation and capital consumption adjustments...................................................... 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ......................................... 8 Personal interest income ....................................................... 9 Personal dividend income...................................................... 10 Personal current transfer receipts ............................................. 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes .................................................... 13 Equals: Disposable personal income ...................................... Addenda: 14 Personal consumption expenditures ......................................... 15 Goods .................................................................................... 16 Durable goods .................................................................... 17 Nondurable goods .............................................................. 18 Services................................................................................. 3.1 1.5 1.7 0.6 –4.4 –2.3 –2.8 –0.3 1.3 0.7 0.7 0.3 0.3 0.2 0.2 0.1 0.0 0.1 0.1 0.2 0.3 0.2 0.2 0.1 0.3 0.4 0.4 0.2 0.1 –0.2 –0.3 0.0 1 2 3 4 0.6 0.1 14.2 1.8 33.9 1.1 1.6 2.9 3.1 2.9 1.6 –16.4 –0.9 –35.1 0.4 10.9 1.4 –5.1 3.5 1.7 3.4 –0.9 11.3 0.3 0.6 1.2 1.3 2.3 1.6 –0.4 –1.0 0.4 0.1 0.1 0.5 0.3 –1.3 0.2 1.2 1.1 1.3 –0.6 0.1 0.7 –0.1 –1.3 0.4 1.3 1.1 1.7 0.7 0.2 0.7 0.3 –1.7 0.4 1.1 1.0 1.2 0.2 0.3 0.7 0.2 0.6 1.3 0.7 –0.3 2.2 0.2 –0.3 –0.5 0.2 5 6 7 8 9 10 11 12 13 0.1 0.0 0.6 –0.2 0.1 0.2 0.0 0.0 0.0 0.3 0.7 1.2 0.2 1.7 0.4 0.2 –0.4 –0.1 –0.5 0.5 –0.2 –0.8 0.4 –1.4 0.1 0.2 0.4 0.4 0.4 0.1 0.6 1.1 0.9 1.2 0.3 0.1 0.5 –0.2 0.9 0.0 14 15 16 17 18 0.5 0.4 0.4 0.2 0.1 0.2 –0.1 –0.2 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. 3.5 3.1 –5.4 –5.1 1.1 0.9 0.0 19 0.1 20 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2012 I II 2013 III IV I r Line II r Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... Proprietors’ income with inventory valuation and capital 5 consumption adjustments...................................................... 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ......................................... 8 Personal interest income ....................................................... 9 Personal dividend income...................................................... 10 Personal current transfer receipts ............................................. 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes .................................................... 13 Equals: Disposable personal income ...................................... Addenda: 14 Personal consumption expenditures ......................................... 15 Goods .................................................................................... 16 Durable goods .................................................................... 17 Nondurable goods .............................................................. 18 Services................................................................................. 6.1 3.9 4.1 3.1 4.2 4.0 4.3 2.7 7.6 10.4 11.5 5.8 3.1 1.9 1.8 2.0 1.5 1.7 1.8 1.4 11.3 9.5 11.0 3.5 –4.1 –1.8 –2.6 1.7 3.9 2.9 3.2 2.0 1 2 3 4 11.9 20.3 8.3 0.8 25.0 1.3 –6.7 17.8 4.8 6.0 11.7 3.9 0.6 9.8 2.2 3.5 6.7 3.9 9.2 9.1 0.8 1.8 –0.9 3.5 10.6 13.1 6.9 1.2 10.3 5.6 4.9 6.8 4.1 1.1 4.8 2.9 0.7 6.8 –1.7 –5.1 4.1 2.1 1.0 4.5 1.1 9.3 6.5 31.3 5.0 85.8 4.0 8.9 15.9 10.7 31.0 14.8 –22.4 –0.9 –47.1 6.5 63.0 21.1 –7.0 –0.4 9.2 13.6 4.7 29.9 0.6 2.4 9.1 3.3 5 6 7 8 9 10 11 12 13 5.0 7.1 5.5 7.9 3.9 4.1 4.6 6.4 3.8 3.8 5.3 6.8 9.1 5.8 4.5 3.0 1.0 1.7 0.6 4.0 3.4 5.1 5.9 4.7 2.6 3.3 4.4 8.3 2.7 2.8 3.4 2.7 4.7 1.8 3.7 1.8 –0.3 4.0 –2.3 2.9 14 15 16 17 18 1.8 1.8 –0.3 –0.6 11.0 9.0 –7.2 –7.9 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. 4.6 2.4 2.7 2.0 6.0 4.6 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. 4.6 19 3.2 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2012 Line Dec. 2013 Jan. Feb. April r March May r June r July p 10,688.2 3,641.7 1,320.8 2,335.7 7,045.7 10,704.3 3,656.4 1,333.2 2,339.1 7,047.3 10,709.6 3,671.4 1,335.1 2,351.8 7,037.7 Line Billions of chained (2009) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,602.4 3,595.1 1,301.7 2,307.7 7,006.4 10,614.3 3,601.1 1,300.3 2,314.6 7,012.3 10,643.5 3,614.6 1,304.6 2,323.8 7,028.0 10,674.2 3,620.2 1,305.5 2,328.3 7,053.0 10,679.3 3,622.3 1,314.7 2,322.5 7,056.0 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 9.0 11.2 11.2 1.0 –2.1 11.9 6.0 –1.4 6.9 5.9 29.2 13.5 4.3 9.2 15.7 30.7 5.6 0.9 4.5 25.0 5.1 2.1 9.2 –5.8 3.0 8.9 19.4 6.1 13.2 –10.3 16.1 14.7 12.4 3.4 1.6 5.3 6 15.0 7 1.9 8 12.7 9 –9.6 10 Percent change from preceding period in chained (2009) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... 0.1 0.3 0.9 0.0 0.0 0.1 0.2 –0.1 0.3 0.1 0.3 0.4 0.3 0.4 0.2 0.3 0.2 0.1 0.2 0.4 0.0 0.1 0.7 –0.3 0.0 0.1 0.5 0.5 0.6 –0.1 0.2 0.4 0.9 0.1 0.0 0.0 0.4 0.1 0.5 –0.1 11 12 13 14 15 p Preliminary r Revised Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2012 I 2013 II III IV I Line II r Billions of chained (2009) dollars 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,291.3 3,419.9 1,157.1 2,266.0 6,871.1 10,517.6 3,534.1 1,246.7 2,296.8 6,982.7 10,447.8 3,495.8 1,219.7 2,283.6 6,951.2 10,496.8 3,514.7 1,228.6 2,293.9 6,981.4 10,541.0 3,546.7 1,253.4 2,303.0 6,993.4 10,584.8 3,579.2 1,285.2 2,306.7 7,004.7 10,644.0 3,611.9 1,303.5 2,322.2 7,031.1 44.2 32.0 24.8 9.1 12.0 43.8 32.5 31.8 3.7 11.3 59.2 32.7 18.3 15.5 26.4 1.7 3.7 8.3 1.6 0.7 1.7 3.7 10.5 0.6 0.6 2.3 3.7 5.8 2.7 1.5 10,690.6 3,640.1 1,322.9 2,332.4 7,049.7 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 255.4 111.2 71.4 42.5 143.9 226.3 114.2 89.6 30.8 111.6 74.7 38.8 28.0 12.6 35.7 49.0 18.9 8.9 10.3 30.2 46.6 6 28.2 7 19.4 8 10.2 9 18.6 10 Percent change from preceding period in chained (2009) dollars 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... r Revised 2.5 3.4 6.6 1.9 2.1 2.2 3.3 7.7 1.4 1.6 2.9 4.6 9.8 2.2 2.1 1.9 2.2 2.9 1.8 1.7 1.8 3.2 6.1 1.8 1.1 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2012 Line Dec. 2013 Jan. Feb. March April r May r June r July p Line Chain-type price indexes (2009=100), seasonally adjusted 1 Personal consumption expenditures (PCE) ............................ 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... Addenda: 6 PCE excluding food and energy ............................................... 7 Food 1 ....................................................................................... 8 Energy goods and services 2 .................................................... 9 Market-based PCE 3 ................................................................. 10 Market-based PCE excluding food and energy 3 ...................... 106.587 106.465 95.554 111.956 106.662 106.663 106.267 95.616 111.611 106.880 107.083 107.129 95.516 113.006 107.073 106.980 106.526 95.328 112.174 107.227 106.701 105.572 95.070 110.834 107.295 106.806 105.441 94.999 110.669 107.523 107.244 106.207 94.980 111.876 107.790 107.343 106.315 94.661 112.226 107.885 1 2 3 4 5 105.249 107.382 128.759 106.406 104.838 105.459 107.349 126.445 106.521 105.110 105.550 107.547 133.493 107.001 105.225 105.619 107.613 129.970 106.879 105.295 105.593 107.730 124.245 106.515 105.208 105.714 107.467 124.569 106.620 105.331 105.960 107.743 128.868 107.064 105.557 106.043 6 107.858 7 129.234 8 107.194 9 105.674 10 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates 11 Personal consumption expenditures (PCE) ............................ 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... Addenda: 16 PCE excluding food and energy ............................................... 17 Food 1 ....................................................................................... 18 Energy goods and services 2 .................................................... 19 Market-based PCE 3 ................................................................. 20 Market-based PCE excluding food and energy 3 ...................... 0.0 –0.3 –0.2 –0.3 0.2 0.1 –0.2 0.1 –0.3 0.2 0.4 0.8 –0.1 1.2 0.2 –0.1 –0.6 –0.2 –0.7 0.1 –0.3 –0.9 –0.3 –1.2 0.1 0.1 –0.1 –0.1 –0.1 0.2 0.4 0.7 0.0 1.1 0.2 0.1 0.1 –0.3 0.3 0.1 11 12 13 14 15 0.1 0.2 –0.9 0.0 0.1 0.2 0.0 –1.8 0.1 0.3 0.1 0.2 5.6 0.5 0.1 0.1 0.1 –2.6 –0.1 0.1 0.0 0.1 –4.4 –0.3 –0.1 0.1 –0.2 0.3 0.1 0.1 0.2 0.3 3.5 0.4 0.2 0.1 0.1 0.3 0.1 0.1 16 17 18 19 20 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line Dec. 1 Disposable personal income .................................................... 2 Personal consumption expenditures ....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services .................................................................................... 5.9 2.2 4.2 9.0 2.0 1.2 2013 Jan. r Feb. –0.1 2.0 3.7 7.7 1.8 1.1 r 0.5 1.7 3.2 6.6 1.6 0.9 March r 0.8 2.0 3.1 6.3 1.7 1.4 April r 0.7 1.7 2.9 7.1 1.0 1.1 May r 0.9 1.8 3.6 7.7 1.7 0.9 June r 0.6 2.0 4.1 8.2 2.3 0.9 July p 0.8 1.7 3.9 7.7 2.2 0.5 Line 1 2 3 4 5 6 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line 1 Personal consumption expenditures (PCE) ............................ 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... Addenda: 6 PCE excluding food and energy ............................................... 7 Food 1 ....................................................................................... 8 Energy goods and services 2 .................................................... 9 Market-based PCE 3 ................................................................. 10 Market-based PCE excluding food and energy 3 ...................... Dec. 2013 Jan. Feb. March April r May r June r 1.5 0.4 –1.6 1.4 2.1 1.4 0.0 –1.6 0.8 2.1 1.5 0.4 –1.7 1.4 2.1 1.2 –0.5 –1.7 0.1 2.1 0.9 –1.1 –1.8 –0.7 1.9 1.1 –0.7 –1.9 –0.2 2.0 1.3 0.0 –1.8 0.9 2.0 1.6 1.3 1.1 1.4 1.4 1.5 1.1 –0.8 1.3 1.4 1.5 1.2 2.4 1.5 1.4 1.4 1.1 –1.6 1.1 1.3 1.2 1.2 –4.1 0.8 1.1 1.2 1.0 –0.9 1.0 1.1 1.2 1.0 3.2 1.3 1.1 July p 1.4 0.3 –1.8 1.3 2.0 Line 1 2 3 4 5 1.2 6 1.2 7 4.8 8 1.4 9 1.2 10 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
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