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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, AUGUST 28, 2015 BEA 15-39 Technical: James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov Media: Jeannine Aversa (202) 606-2649 PERSONAL INCOME AND OUTLAYS: JULY 2015 Personal income increased $67.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $61.5 billion, or 0.5 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $37.4 billion, or 0.3 percent. In June, personal income increased $59.4 billion, or 0.4 percent, DPI increased $52.4 billion, or 0.4 percent, and PCE increased $31.8 billion, or 0.3 percent, based on revised estimates. Real DPI increased 0.4 percent in July, compared with an increase of 0.2 percent in June. Real PCE increased 0.2 percent, compared to an increase of less than 0.1 percent. Mar. Personal income, current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars 0.0 2015 Apr. May June (Percent change from preceding month) 0.4 0.4 0.4 July 0.4 0.0 -0.2 0.4 0.3 0.4 0.1 0.4 0.2 0.5 0.4 0.5 0.3 0.3 0.2 0.8 0.5 0.3 0.0 0.3 0.2 This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for January through March 2015 (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. Monthto-month dollar changes are differences between these published estimates. Month-to-month 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- Compensation Wages and salaries increased $35.8 billion in July, compared with an increase of $14.3 billion in June. Private wages and salaries increased $32.7 billion, compared with an increase of $11.0 billion. Government wages and salaries increased $3.1 billion, compared with an increase of $3.3 billion. Supplements to wages and salaries increased $6.0 billion in July, compared with an increase of $4.6 billion in June. Other personal income Proprietors' income increased $11.3 billion in July, compared with an increase of $7.8 billion in June. Farm proprietors' income increased $0.4 billion, compared with an increase of $2.7 billion. Nonfarm proprietors' income increased $10.9 billion, compared with an increase of $5.1 billion. Rental income of persons increased $4.4 billion in July, compared with an increase of $7.4 billion in June. Personal income receipts on assets (personal interest income plus personal dividend income) increased $0.9 billion, compared with an increase of $20.6 billion. Personal current transfer receipts increased $13.0 billion, compared with an increase of $6.2 billion. Contributions for government social insurance -- a subtraction in calculating personal income -increased $4.3 billion in July, compared with an increase of $1.5 billion in June. Personal current taxes and disposable personal income Personal current taxes increased $5.6 billion in July, compared with an increase of $7.0 billion in June. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $61.5 billion, or 0.5 percent, in July, compared with an increase of $52.4 billion, or 0.4 percent, in June. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $37.7 billion in July, compared with an increase of $36.5 billion in June. PCE increased $37.4 billion, compared with an increase of $31.8 billion. Personal saving -- DPI less personal outlays -- was $651.1 billion in July, compared with $627.3 billion in June. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.9 percent in July, compared with 4.7 percent 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 financial accounts of the United States and data on changes in net worth, go to www.bea.gov/national/nipaweb/nipa-frb.asp. -more- -3- Real DPI, real PCE, and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in July, compared with an increase of 0.2 percent in June. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in July, compared with an increase of less than 0.1 percent in June. Purchases of durable goods increased 1.3 percent, in contrast to a decrease of 0.9 percent. Purchases of motor vehicles and parts accounted for about half of the increase in July and most of the decrease in June. Purchases of nondurable goods increased 0.1 percent in July, the same increase as in June. Purchases of services increased 0.1 percent in July, compared with an increase of 0.2 percent in June. The price index for PCE increased 0.1 percent in July, compared with an increase of 0.2 percent in June. The PCE price index, excluding food and energy, increased 0.1 percent in July, the same increase as in June. The July price index for PCE increased 0.3 percent from July a year ago. The July PCE price index, excluding food and energy, increased 1.2 percent from July a year ago. Revisions Estimates for personal income have been revised for January through June; estimates for PCE have been revised for April through June. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in 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 first-quarter wages and salaries reflects the incorporation of the most recently available BLS tabulations of first-quarter wages and salaries from the quarterly census of employment and wages. Revised estimates for April, May, and June reflect extrapolation 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 Previous Revised (Billions of dollars) (Percent) Personal income: Current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars June Previous Revised Previous Revised (Billions of dollars) (Percent) 66.3 65.1 0.4 0.4 68.1 59.4 0.4 0.4 53.8 11.2 51.9 10.0 0.4 0.1 0.4 0.1 60.6 27.2 52.4 19.9 0.5 0.2 0.4 0.2 90.8 48.2 98.8 55.9 0.7 0.4 0.8 0.5 25.9 -2.2 31.8 3.3 0.2 0.0 0.3 0.0 -more- -4- BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of Current Business are available for free on BEA's Web site at www.bea.gov. The entire historical time series for these estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm. BEA's news release schedule is available at www.bea.gov/newsreleases/2015rd.htm. * * * Next release – September 28, 2015 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 2014 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 1 ......................................................................................... 13 Employer contributions for government social insurance................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments .............................................................. 15 Farm................................................................................................... 16 Nonfarm ............................................................................................. 17 Rental income of persons with capital consumption adjustment 18 Personal income receipts on assets.................................................. 19 Personal interest income.................................................................... 20 Personal dividend income .................................................................. 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons.............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance ............................................................... 27 Veterans’ benefits............................................................................ 28 Other............................................................................................... 29 Other current transfer receipts, from business (net)........................... 30 Less: Contributions for government social insurance, domestic 31 Less: Personal current taxes................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays........................................................................... 34 Personal consumption expenditures...................................................... 35 Goods................................................................................................. 36 Durable goods................................................................................. 37 Nondurable goods........................................................................... 38 Services ............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments....................................................... 41 To government.................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving ........................................................................ 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................ Per capita: 47 Current dollars ................................................................................ 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 6 ..................................................... 2015 Jan. r Feb. r March r April r Line May r June r July p 15,014.2 15,048.1 15,095.8 15,095.6 15,158.1 15,223.1 15,282.5 15,349.6 1 9,461.9 9,482.2 9,488.4 9,493.2 9,516.9 9,555.7 9,574.5 9,616.3 2 7,664.2 7,680.2 7,682.9 7,684.3 7,703.4 7,736.3 7,750.6 7,786.4 3 6,414.4 6,426.5 6,426.2 6,425.2 6,441.7 6,471.4 6,482.4 6,515.2 4 1,295.3 1,293.2 1,286.3 1,284.5 1,283.1 1,284.2 1,281.5 1,289.9 5 797.3 795.6 791.3 789.4 788.7 790.1 788.5 793.2 6 5,119.1 5,133.3 5,139.9 5,140.7 5,158.6 5,187.2 5,200.9 5,225.3 7 1,211.8 1,210.3 1,213.2 1,209.3 1,213.0 1,218.9 1,219.3 1,224.9 8 3,907.2 3,922.9 3,926.7 3,931.5 3,945.6 3,968.4 3,981.7 4,000.4 9 1,249.8 1,253.7 1,256.7 1,259.0 1,261.6 1,264.9 1,268.2 1,271.3 10 1,797.7 1,802.0 1,805.5 1,808.9 1,813.5 1,819.3 1,823.9 1,829.9 11 1,239.6 558.1 1,243.1 558.9 1,246.8 558.8 1,250.5 558.4 1,254.4 559.2 1,258.3 561.0 1,262.2 561.7 1,266.1 12 563.8 13 1,385.6 1,375.6 1,367.4 1,365.2 1,369.4 1,376.6 1,384.4 1,395.8 14 76.6 68.5 60.5 52.5 55.2 57.9 60.7 61.0 15 1,309.1 1,307.1 1,306.9 1,312.8 1,314.2 1,318.7 1,323.8 1,334.7 16 631.1 633.2 636.9 640.8 647.6 655.2 662.7 667.1 17 2,136.7 2,132.8 2,165.8 2,138.0 2,164.9 2,173.6 2,194.2 2,195.1 18 1,291.1 1,286.8 1,282.6 1,278.3 1,295.6 1,312.9 1,330.3 1,331.6 19 845.6 846.0 883.2 859.7 869.3 860.6 863.9 863.6 20 2,580.1 2,610.3 2,623.2 2,643.9 2,646.7 2,653.3 2,659.6 2,672.5 21 2,538.0 2,568.0 2,580.8 2,601.4 2,604.0 2,610.4 2,616.5 2,629.3 22 850.0 859.8 859.6 865.4 867.7 871.8 868.7 872.2 23 606.8 608.2 609.8 611.5 613.3 615.3 617.4 619.8 24 505.3 517.2 525.0 529.5 528.9 529.6 533.8 541.8 25 35.4 35.3 35.3 34.6 33.1 32.9 33.4 33.3 26 87.6 89.7 90.3 92.3 93.6 93.3 95.3 95.1 27 452.9 457.7 460.9 468.1 467.4 467.6 467.8 467.1 28 42.1 42.2 42.4 42.6 42.7 42.9 43.1 43.3 29 1,181.1 1,186.0 1,185.9 1,185.5 1,187.5 1,191.3 1,192.8 1,197.2 30 1,850.9 1,897.2 1,900.2 1,902.8 1,916.0 1,929.2 1,936.2 1,941.8 31 13,163.4 13,150.9 13,195.6 13,192.8 13,242.0 13,293.9 13,346.4 13,407.8 32 12,509.9 12,456.8 12,479.5 12,540.3 12,579.1 12,682.5 12,719.0 12,756.8 33 12,067.6 12,018.6 12,042.7 12,105.0 12,137.5 12,236.2 12,268.0 12,305.4 34 3,952.5 3,884.8 3,881.1 3,938.7 3,930.8 4,001.7 4,001.3 4,022.3 35 1,300.3 1,297.9 1,292.2 1,315.3 1,320.6 1,337.7 1,323.1 1,337.9 36 2,652.2 2,586.9 2,588.8 2,623.4 2,610.2 2,664.0 2,678.2 2,684.4 37 8,115.1 8,133.8 8,161.7 8,166.3 8,206.7 8,234.5 8,266.7 8,283.1 38 264.3 262.8 261.3 259.8 264.4 268.9 273.5 273.7 39 178.0 175.5 175.5 175.5 177.3 177.4 177.5 177.7 40 95.9 97.0 97.0 97.0 97.1 97.2 97.3 97.5 41 82.2 78.5 78.5 78.5 80.2 80.2 80.2 80.2 42 653.5 694.1 716.1 652.5 662.9 611.4 627.3 651.1 43 5.0 5.3 5.4 4.9 5.0 4.6 4.7 4.9 44 11,396.9 11,453.9 11,466.7 11,422.4 11,470.8 11,488.9 11,511.0 11,550.7 45 12,065.3 12,110.6 12,131.4 12,102.2 12,140.8 12,150.7 12,170.6 12,216.5 46 41,099 37,671 320,284 41,039 37,792 320,450 41,156 37,837 320,621 41,125 37,726 320,797 41,256 37,825 320,975 41,393 37,834 321,162 41,530 37,872 321,365 41,694 47 37,989 48 321,579 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 2015. 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2013 2014 2014 I 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries........................................................................... 4 Private industries............................................................................. 5 Goods-producing industries ......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities ............................................. 9 Other services-producing industries ......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries ............................................... 12 Employer contributions for employee pension and insurance funds 1 .......................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments ............................................................... 15 Farm.................................................................................................... 16 Nonfarm .............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets .................................................. 19 Personal interest income..................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts...................................................... 22 Government social benefits to persons............................................... 23 Social security 2 ............................................................................... 24 Medicare 3 ....................................................................................... 25 Medicaid .......................................................................................... 26 Unemployment insurance ................................................................ 27 Veterans’ benefits ............................................................................ 28 Other................................................................................................ 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic ... 31 Less: Personal current taxes.................................................................. 32 Equals: Disposable personal income.................................................... 33 Less: Personal outlays............................................................................ 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 .................................................................. 40 Personal current transfer payments........................................................ 41 To government .................................................................................... 42 To the rest of the world (net) ............................................................... 43 Equals: Personal saving ......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 .................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5............................................. Per capita: 47 Current dollars ................................................................................. 48 Chained (2009) dollars .................................................................... 49 Population (midperiod, thousands) 6 ...................................................... II 2015 III IV Ir Line II r 14,068.4 14,694.2 14,433.5 14,612.8 14,774.8 14,955.7 15,079.8 15,221.3 1 8,839.7 9,248.9 9,103.7 9,177.3 9,289.9 9,424.9 9,487.9 9,549.0 2 7,114.4 7,477.8 7,350.0 7,414.5 7,513.9 7,632.6 7,682.4 7,730.1 3 5,906.8 6,240.5 6,126.6 6,180.3 6,270.7 6,384.4 6,425.9 6,465.2 4 1,190.1 1,260.9 1,233.6 1,250.4 1,266.6 1,292.9 1,288.0 1,282.9 5 746.8 780.9 770.5 775.1 781.4 796.5 792.1 789.1 6 4,716.7 4,979.7 4,892.9 4,930.0 5,004.1 5,091.5 5,138.0 5,182.3 7 1,118.5 1,175.5 1,153.8 1,165.7 1,179.2 1,203.3 1,210.9 1,217.1 8 3,598.2 3,804.2 3,739.2 3,764.3 3,825.0 3,888.2 3,927.0 3,965.2 9 1,207.6 1,237.2 1,223.4 1,234.2 1,243.2 1,248.2 1,256.5 1,264.9 10 1,725.3 1,771.2 1,753.7 1,762.7 1,776.0 1,792.3 1,805.5 1,818.9 11 1,197.8 527.5 1,224.0 547.2 1,213.1 540.5 1,219.4 543.3 1,227.1 548.9 1,236.3 556.0 1,246.8 558.7 1,258.3 12 560.6 13 1,285.1 1,346.7 1,304.8 1,346.3 1,357.8 1,377.9 1,369.4 1,376.8 14 88.8 78.1 71.7 88.8 77.2 74.8 60.5 57.9 15 1,196.3 1,268.6 1,233.0 1,257.5 1,280.6 1,303.0 1,308.9 1,318.9 16 563.4 610.8 591.0 605.5 618.4 628.4 637.0 655.2 17 2,060.4 2,117.5 2,102.7 2,121.8 2,115.0 2,130.6 2,145.5 2,177.6 18 1,271.3 1,302.0 1,320.2 1,310.0 1,288.1 1,289.8 1,282.6 1,312.9 19 789.0 815.5 782.5 811.9 826.8 840.8 863.0 864.6 20 2,426.6 2,529.2 2,476.0 2,513.1 2,556.5 2,571.0 2,625.8 2,653.2 21 2,385.5 2,487.2 2,434.2 2,471.1 2,514.4 2,528.9 2,583.4 2,610.3 22 799.0 834.6 824.5 833.2 837.2 843.8 861.6 869.4 23 574.6 597.8 589.5 595.6 600.8 605.3 609.8 615.3 24 439.7 487.4 463.0 473.6 505.9 507.1 523.9 530.7 25 62.3 35.8 39.7 36.0 34.6 32.9 35.0 33.1 26 79.1 83.7 82.0 82.3 83.8 86.7 90.7 94.1 27 430.8 447.9 435.5 450.5 452.2 453.3 462.2 467.6 28 41.2 42.0 41.8 42.0 42.1 42.1 42.4 42.9 29 1,106.8 1,159.0 1,144.5 1,151.2 1,162.9 1,177.2 1,185.8 1,190.6 30 1,672.8 1,780.2 1,736.0 1,754.1 1,792.0 1,838.8 1,900.1 1,927.1 31 12,395.6 12,913.9 12,697.5 12,858.7 12,982.7 13,116.8 13,179.8 13,294.1 32 11,805.7 12,293.7 12,060.3 12,235.2 12,377.0 12,502.5 12,492.2 12,660.2 33 11,392.3 11,865.9 11,640.3 11,813.0 11,949.1 12,061.4 12,055.5 12,213.9 34 3,836.8 3,948.4 3,874.7 3,951.5 3,987.4 3,980.1 3,901.5 3,977.9 35 1,237.8 1,280.2 1,243.1 1,279.1 1,295.1 1,303.5 1,301.8 1,327.1 36 2,598.9 2,668.2 2,631.6 2,672.4 2,692.2 2,676.6 2,599.7 2,650.8 37 7,555.5 7,917.5 7,765.6 7,861.5 7,961.7 8,081.3 8,153.9 8,236.0 38 244.2 254.2 249.0 250.5 254.3 263.1 261.3 268.9 39 169.3 173.6 170.9 171.7 173.6 178.0 175.5 177.4 40 92.6 95.3 94.4 95.2 95.7 95.9 97.0 97.2 41 76.6 78.3 76.5 76.5 77.9 82.2 78.5 80.2 42 589.9 620.2 637.2 623.5 605.7 614.3 687.6 633.9 43 4.8 4.8 5.0 4.8 4.7 4.7 5.2 4.8 44 10,822.3 11,149.8 11,017.0 11,089.0 11,164.6 11,329.0 11,447.6 11,490.2 45 11,523.1 11,836.3 11,698.8 11,784.7 11,863.1 11,998.7 12,114.7 12,154.0 46 39,123 36,369 316,839 40,461 37,084 319,173 39,893 36,755 318,288 40,331 36,962 318,833 40,638 37,134 319,470 40,977 37,484 320,100 41,107 37,785 320,623 41,393 47 37,843 48 321,167 49 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2015. 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2014 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 1 .......................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods................................................................................................. 36 Durable goods................................................................................. 37 Nondurable goods........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government.................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5 .......... 2015 Jan. r Feb. r March r April r Line May r June r July p 48.6 18.5 14.1 12.6 –2.6 –2.1 15.2 5.9 9.3 1.6 4.3 33.9 20.3 16.0 12.1 –2.1 –1.7 14.2 –1.5 15.7 3.9 4.3 47.7 6.3 2.7 –0.3 –6.9 –4.3 6.6 2.8 3.8 3.0 3.5 –0.2 4.7 1.3 –1.0 –1.8 –1.9 0.9 –3.9 4.8 2.3 3.4 62.5 23.7 19.1 16.5 –1.4 –0.7 17.9 3.7 14.2 2.6 4.6 65.1 38.8 33.0 29.7 1.1 1.4 28.6 5.9 22.7 3.3 5.8 59.4 18.8 14.3 11.0 –2.7 –1.6 13.7 0.4 13.3 3.3 4.6 67.1 1 41.8 2 35.8 3 32.7 4 8.4 5 4.7 6 24.3 7 5.6 8 18.7 9 3.1 10 6.0 11 3.4 0.9 3.4 0.9 3.7 –0.2 3.8 –0.4 3.8 0.8 3.9 1.9 3.9 0.7 3.9 12 2.1 13 10.8 0.7 10.2 2.9 4.7 0.6 4.1 13.4 13.4 8.3 1.5 –0.9 3.7 1.0 –0.2 0.0 1.6 8.4 40.3 –6.7 –7.6 –41.0 –11.1 –29.9 33.4 0.8 0.0 0.0 0.0 47.0 –10.0 –8.0 –1.9 2.2 –3.8 –4.2 0.4 30.1 30.0 9.8 1.5 11.9 –0.1 2.1 4.8 0.2 4.9 46.3 –12.4 –53.1 –49.0 –67.8 –2.4 –65.4 18.7 –1.5 –2.6 1.1 –3.7 40.7 –8.2 –8.0 –0.2 3.6 32.9 –4.2 37.2 13.0 12.8 –0.2 1.5 7.7 0.0 0.5 3.2 0.2 –0.1 3.0 44.6 22.7 24.1 –3.7 –5.7 2.0 27.9 –1.5 0.0 0.0 0.0 22.0 –2.2 –8.0 5.8 3.9 –27.8 –4.2 –23.5 20.7 20.5 5.8 1.7 4.6 –0.7 2.0 7.2 0.2 –0.5 2.6 –2.8 60.8 62.3 57.7 23.1 34.6 4.6 –1.5 0.0 0.0 0.0 –63.6 4.2 2.7 1.5 6.8 26.9 17.3 9.6 2.8 2.7 2.3 1.8 –0.6 –1.5 1.3 –0.7 0.2 2.0 13.2 49.2 38.8 32.5 –7.9 5.2 –13.2 40.4 4.6 1.8 0.1 1.7 10.5 7.2 2.7 4.5 7.7 8.7 17.3 –8.7 6.6 6.4 4.1 2.0 0.7 –0.2 –0.3 0.2 0.2 3.9 13.2 51.9 103.4 98.8 71.0 17.2 53.8 27.8 4.6 0.1 0.1 0.0 –51.5 7.8 2.7 5.1 7.4 20.6 17.3 3.3 6.2 6.0 –3.2 2.2 4.2 0.6 2.0 0.3 0.2 1.5 7.0 52.4 36.5 31.8 –0.4 –14.6 14.2 32.2 4.6 0.1 0.1 0.0 15.9 58.1 64.2 57.0 45.2 12.8 20.8 –44.3 –29.1 48.4 38.5 18.0 10.0 22.1 19.9 11.3 0.4 10.9 4.4 0.9 1.3 –0.4 13.0 12.8 3.5 2.4 8.0 –0.1 –0.2 –0.7 0.2 4.3 5.6 61.5 37.7 37.4 21.0 14.9 6.1 16.4 0.1 0.2 0.2 0.0 23.7 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 39.7 44 45.9 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 2015. 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 .......................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods................................................................................................. 36 Durable goods................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government.................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5 .......... 2013 2014 2014 2015 I II III IV I r Line II r 153.3 229.8 184.1 174.7 34.6 12.5 140.1 25.9 114.3 9.4 45.6 625.8 409.3 363.4 333.8 70.8 34.0 263.0 57.0 206.0 29.6 45.9 212.8 137.8 126.3 120.0 27.2 16.3 92.9 19.0 73.8 6.2 11.5 179.2 73.6 64.5 53.8 16.7 4.6 37.1 11.9 25.1 10.8 9.0 162.0 112.6 99.4 90.4 16.2 6.3 74.2 13.5 60.7 9.0 13.3 180.9 135.0 118.7 113.7 26.3 15.0 87.4 24.1 63.3 5.0 16.3 124.2 63.0 49.8 41.5 –4.9 –4.4 46.4 7.6 38.8 8.3 13.2 141.4 1 61.1 2 47.7 3 39.3 4 –5.1 5 –3.0 6 44.3 7 6.1 8 38.2 9 8.4 10 13.4 11 32.5 13.1 26.2 19.7 5.1 6.5 6.3 2.8 7.7 5.6 9.1 7.1 10.5 2.7 11.5 12 1.9 13 43.7 27.2 16.5 38.1 –63.4 –17.5 –45.9 60.3 61.9 36.9 18.2 22.4 –21.5 8.9 –3.2 –1.6 155.2 161.4 –8.1 348.7 341.7 97.7 45.9 51.7 244.0 3.5 3.5 1.6 1.9 –356.8 61.6 –10.6 72.2 47.4 57.1 30.7 26.5 102.5 101.7 35.6 23.2 47.7 –26.5 4.7 17.1 0.8 52.2 107.5 518.3 488.0 473.7 111.7 42.4 69.3 362.0 10.1 4.3 2.7 1.6 30.3 20.4 –5.4 25.8 11.6 35.9 39.1 –3.2 29.6 29.4 15.7 6.9 14.5 –16.9 1.2 8.0 0.3 22.6 40.0 172.8 85.9 83.4 9.9 0.3 9.6 73.5 1.3 1.2 1.0 0.2 86.9 41.5 17.1 24.5 14.6 19.2 –10.2 29.4 37.1 36.9 8.7 6.1 10.5 –3.7 0.3 15.0 0.2 6.7 18.0 161.2 174.9 172.7 76.8 36.0 40.8 96.0 1.5 0.8 0.8 0.0 –13.7 11.5 –11.6 23.1 12.9 –6.9 –21.8 15.0 43.4 43.3 4.0 5.2 32.3 –1.3 1.5 1.6 0.1 11.6 38.0 124.0 141.8 136.1 35.9 16.0 19.8 100.2 3.8 1.9 0.5 1.4 –17.8 20.1 –2.3 22.4 10.0 15.6 1.7 13.9 14.5 14.5 6.6 4.5 1.2 –1.8 2.9 1.1 0.0 14.3 46.8 134.1 125.6 112.3 –7.2 8.4 –15.6 119.6 8.8 4.5 0.2 4.3 8.6 –8.4 –14.3 5.9 8.5 14.9 –7.3 22.2 54.8 54.5 17.9 4.5 16.9 2.2 4.1 9.0 0.3 8.6 61.2 62.9 –10.3 –5.9 –78.6 –1.7 –76.9 72.7 –1.8 –2.6 1.1 –3.7 73.2 –60.3 –165.2 327.5 313.2 125.5 113.1 72.0 85.9 75.5 78.4 164.4 135.6 118.7 115.9 7.4 –2.6 10.0 18.2 32.0 30.4 1.7 27.4 26.9 7.8 5.5 6.8 –1.9 3.3 5.4 0.5 4.7 27.1 114.3 168.0 158.5 76.4 25.3 51.1 82.0 7.7 1.9 0.2 1.7 –53.7 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 42.6 44 39.3 45 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2015. 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2014 Dec. 2015 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................................................................................. 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.1 0.0 0.2 0.0 0.0 0.0 0.2 0.4 0.3 0.2 0.3 0.4 0.4 0.4 0.3 0.4 0.2 0.2 0.3 0.4 0.4 0.5 0.3 1 2 3 4 0.8 0.5 0.2 0.0 0.5 0.5 0.1 0.5 0.3 –0.7 0.3 –0.2 –0.3 0.0 1.2 0.4 2.5 –0.1 –0.6 0.6 1.5 –0.3 4.4 0.5 0.0 0.2 0.3 –0.2 0.6 –1.3 –0.3 –2.7 0.8 0.0 0.1 0.0 0.3 1.1 1.3 1.4 1.1 0.1 0.2 0.7 0.4 0.5 1.2 0.4 1.3 –1.0 0.3 0.3 0.7 0.4 0.6 1.1 0.9 1.3 0.4 0.2 0.1 0.4 0.4 0.8 0.7 0.0 0.1 0.0 0.5 0.4 0.3 0.5 5 6 7 8 9 10 11 12 13 –0.1 –1.0 –0.8 –1.1 0.4 –0.4 –1.7 –0.2 –2.5 0.2 0.2 –0.1 –0.4 0.1 0.3 0.5 1.5 1.8 1.3 0.1 0.3 –0.2 0.4 –0.5 0.5 0.8 1.8 1.3 2.1 0.3 0.3 0.0 –1.1 0.5 0.4 0.3 0.5 1.1 0.2 0.2 14 15 16 17 18 –0.4 –0.2 0.4 0.3 0.2 0.1 0.2 0.2 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. 0.5 0.5 0.5 0.4 0.1 0.2 0.3 19 0.4 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 2015. Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2013 2014 2014 I II 2015 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...................................... 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................................................................................. 1.1 2.7 2.7 2.7 4.4 4.6 5.1 2.7 6.1 6.3 7.2 2.7 5.1 3.3 3.6 2.1 4.5 5.0 5.5 3.0 5.0 5.9 6.5 3.7 3.4 2.7 2.6 3.0 3.8 2.6 2.5 3.0 1 2 3 4 3.5 7.2 –3.0 –1.4 –5.5 2.5 16.3 10.7 –0.1 4.8 8.4 2.8 2.4 3.4 4.2 4.7 6.4 4.2 6.5 8.2 7.1 12.8 –1.6 4.9 8.3 9.8 5.6 13.4 10.2 3.7 –3.1 15.9 6.1 2.4 4.2 5.2 3.5 8.8 –1.3 –6.5 7.6 7.1 4.1 9.0 3.9 6.1 6.6 3.0 0.5 6.9 2.3 5.0 10.9 4.2 –2.4 5.5 2.8 –2.2 11.0 8.8 3.0 14.0 1.9 2.2 11.9 6.1 9.8 0.8 4.2 1.6 5.8 3.5 5 6 7 8 9 10 11 12 13 3.1 2.6 3.9 2.0 3.3 4.2 2.9 3.4 2.7 4.8 2.9 1.0 0.1 1.5 3.9 6.1 8.2 12.1 6.3 5.0 4.7 3.7 5.1 3.0 5.2 3.8 –0.7 2.6 –2.3 6.1 –0.2 –7.7 –0.5 –11.0 3.6 5.4 8.1 8.0 8.1 4.1 14 15 16 17 18 2.6 3.0 2.8 2.7 6.0 4.7 4.3 3.9 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. –0.6 –1.4 3.0 2.7 4.7 4.0 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2015. 1.5 19 1.3 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2014 Line Dec. 2015 Jan. Feb. April r March May r June r July p 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.................................................................................... 11,061.0 3,802.0 1,427.5 2,398.7 7,259.1 11,067.8 3,798.4 1,427.2 2,395.5 7,269.2 11,071.5 3,783.1 1,418.5 2,388.3 7,286.9 11,104.4 3,829.7 1,445.7 2,409.6 7,276.1 11,128.1 3,827.7 1,449.2 2,404.8 7,300.9 11,184.0 3,872.3 1,470.4 2,429.2 7,314.4 11,187.3 3,863.6 1,457.0 2,432.2 7,325.5 11,212.0 3,883.6 1,476.5 2,434.9 7,331.2 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.................................................................................... 18.2 –2.8 –4.9 1.4 20.4 6.8 –3.6 –0.3 –3.1 10.0 3.7 –15.4 –8.7 –7.2 17.7 32.8 46.6 27.2 21.2 –10.8 23.7 –1.9 3.5 –4.7 24.7 55.9 44.6 21.2 24.4 13.5 3.3 –8.7 –13.4 3.0 11.1 24.7 6 20.0 7 19.5 8 2.7 9 5.7 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.................................................................................... 0.2 –0.1 –0.3 0.1 0.3 0.1 –0.1 0.0 –0.1 0.1 0.0 –0.4 –0.6 –0.3 0.2 0.3 1.2 1.9 0.9 –0.1 0.2 –0.1 0.2 –0.2 0.3 0.5 1.2 1.5 1.0 0.2 0.0 –0.2 –0.9 0.1 0.2 0.2 0.5 1.3 0.1 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 2013 2014 2014 I 2015 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.................................................................................... 10,590.4 3,612.8 1,307.6 2,319.8 6,977.0 10,875.7 3,731.2 1,384.1 2,367.8 7,144.6 10,724.7 3,658.3 1,333.2 2,341.3 7,065.7 10,826.3 3,718.0 1,377.2 2,361.0 7,108.5 10,918.6 3,755.2 1,402.5 2,375.2 7,163.8 11,033.3 3,793.2 1,423.5 2,393.7 7,240.4 11,081.2 3,803.7 1,430.4 2,397.8 7,277.4 92.3 37.2 25.2 14.2 55.3 114.7 38.0 21.0 18.5 76.5 48.0 10.5 7.0 4.1 37.0 3.5 4.1 7.5 2.4 3.1 4.3 4.1 6.1 3.1 4.3 1.8 1.1 2.0 0.7 2.1 11,166.4 3,854.5 1,458.9 2,422.1 7,313.6 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.................................................................................... 177.2 108.5 71.4 42.3 68.9 285.3 118.4 76.5 48.0 167.6 34.4 10.3 8.6 2.4 24.0 101.6 59.7 44.0 19.7 42.9 85.2 6 50.8 7 28.4 8 24.3 9 36.2 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 1.7 3.1 5.8 1.9 1.0 2.7 3.3 5.9 2.1 2.4 1.3 1.1 2.6 0.4 1.4 3.8 6.7 13.9 3.4 2.4 3.1 5.5 8.2 4.1 2.0 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2014 Line Dec. 2015 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 ...................... 109.103 103.952 91.070 110.566 111.797 108.594 102.269 90.926 107.984 111.901 108.776 102.587 91.085 108.394 112.011 109.015 102.845 90.968 108.873 112.240 109.075 102.689 91.107 108.541 112.414 109.412 103.340 90.959 109.667 112.586 109.664 103.561 90.794 110.117 112.855 109.756 103.568 90.599 110.246 112.991 108.535 111.184 114.206 108.085 108.589 110.903 102.491 107.464 108.732 111.012 103.597 107.646 108.952 110.684 105.107 107.844 109.111 110.494 103.592 107.925 109.247 110.451 108.441 108.272 109.408 110.769 110.349 108.485 109.487 111.006 110.445 108.568 107.265 107.270 107.407 107.576 107.774 107.893 107.996 1 2 3 4 5 6 7 8 9 108.063 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 ...................... –0.2 –1.0 –0.5 –1.2 0.1 –0.5 –1.6 –0.2 –2.3 0.1 0.2 0.3 0.2 0.4 0.1 0.2 0.3 –0.1 0.4 0.2 0.1 –0.2 0.2 –0.3 0.2 0.3 0.6 –0.2 1.0 0.2 0.2 0.2 –0.2 0.4 0.2 0.1 0.0 –0.2 0.1 0.1 0.0 0.2 –5.1 –0.3 0.0 –0.3 –10.3 –0.6 0.1 0.1 1.1 0.2 0.2 –0.3 1.5 0.2 0.1 –0.2 –1.4 0.1 0.1 0.0 4.7 0.3 0.1 0.3 1.8 0.2 0.1 0.2 0.1 0.1 0.0 0.0 0.1 0.2 0.2 0.1 0.1 11 12 13 14 15 16 17 18 19 0.1 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 2014 Line Dec. 1 Disposable personal income .................................................... 2 Personal consumption expenditures ....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services.................................................................................... 4.0 3.2 4.0 8.1 2.1 2.8 2015 Jan. r 4.0 3.8 5.3 9.9 3.2 3.1 Feb. r 3.6 3.2 3.2 6.5 1.7 3.1 March r April r 3.0 3.0 3.4 5.6 2.4 2.8 3.3 3.0 3.1 6.0 1.8 2.9 May r 3.2 3.4 4.4 6.9 3.2 2.9 June r 3.0 3.0 3.5 4.9 2.8 2.8 July p 3.3 3.2 3.9 6.2 2.8 2.8 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 2015. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 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 ...................... 2014 Dec. 2015 Jan. Feb. March April r May r June r 0.8 –1.9 –2.6 –1.5 2.1 0.2 –3.5 –2.7 –3.9 2.0 0.3 –3.1 –2.3 –3.6 2.0 0.3 –2.8 –2.3 –3.1 1.8 0.2 –3.2 –2.2 –3.8 1.9 0.2 –2.8 –2.0 –3.1 1.8 0.3 –2.7 –2.0 –3.0 1.9 1.4 3.0 –11.7 0.5 1.1 1.3 2.7 –21.3 –0.2 1.0 1.3 2.4 –20.1 –0.1 1.1 1.3 1.7 –18.9 –0.1 1.1 1.3 1.3 –20.1 –0.2 1.1 1.3 0.7 –16.9 0.0 1.1 1.3 1.0 –15.9 0.0 1.1 July p 0.3 –2.7 –2.1 –3.0 1.8 Line 1 2 3 4 5 1.2 6 0.9 7 –15.7 8 0.0 9 1.0 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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