Full text of Bureau of Economic Analysis (BEA) News Releases : Personal Income and Outlays: June 2009 : Revised Estimates: 1929 Through May 2009, BEA 09-34 : Full Release

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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, AUGUST 4, 2009
James E. Rankin:
Brendan Leary:
Kurt Kunze:

(202) 606-5301
(202) 606-5302
(202) 606-9748

(Personal Income)
(Personal Outlays)
(Comprehensive Revision)

BEA 09-34

PERSONAL INCOME AND OUTLAYS: JUNE 2009
REVISED ESTIMATES: 1929 THROUGH MAY 2009
Personal income decreased $159.8 billion, or 1.3 percent, and disposable personal income (DPI)
decreased $143.8 billion, or 1.3 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $41.4 billion, or 0.4 percent. In May,
personal income increased $155.1 billion, or 1.3 percent, DPI increased $168.7 billion, or 1.6
percent, and PCE increased $9.0 billion, or 0.1 percent, based on revised estimates.

Personal income, current dollars
Disposable personal income:
Current dollars
Chained (2005) dollars
Personal consumption expenditures:
Current dollars
Chained (2005) dollars

2009
Feb.
Mar.
Apr.
May
(Percent change from preceding month)

June

-0.8

-0.5

0.2

1.3

-1.3

-0.7
-1.0

-0.2
-0.1

0.9
0.8

1.6
1.5

-1.3
-1.8

0.4
0.1

-0.3
-0.2

-0.1
-0.2

0.1
0.0

0.4
-0.1

This release presents revised estimates of personal income and its disposition that reflect the
comprehensive revision of the national income and product accounts released on July 31. Tables
containing historical data will be posted when they become available on BEA’s Web site. For more
information on the revision, see the text and box on pages 5 and 6.
________________________

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-to-month
percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in
chained (2005) dollars.
This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm.
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-2-

Real disposable income decreased 1.8 percent in June, in contrast to an increase of 1.5
percent in May. Real PCE decreased 0.1 percent, in contrast to an increase of less than 0.1 percent.
The June change in personal income reflects selected provisions of the American Recovery and
Reinvestment Act of 2009, which boosted personal current transfer receipts in May much more than
in June. Excluding these receipts, which are discussed more fully below, personal income decreased
$7.8 billion, or 0.1 percent, in June, following a decrease of $2.5 billion, or less than 0.1 percent, in
May.

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-3-

Wages and salaries
Private wage and salary disbursements decreased $28.6 billion in June, compared with a decrease
of $11.3 billion in May. Goods-producing industries' payrolls decreased $11.1 billion, compared with
a decrease of $10.9 billion; manufacturing payrolls decreased $6.7 billion, compared with a decrease
of $8.4 billion. Services-producing industries' payrolls decreased $17.5 billion, compared with a
decrease of $0.4 billion. Government wage and salary disbursements increased $2.8 billion,
compared with an increase of $4.3 billion.

Other personal income
Supplements to wages and salaries decreased $0.3 billion in June, in contrast to an increase of
$1.0 billion in May.
Proprietors' income decreased $1.0 billion in June, compared with a decrease of $1.9 billion in
May. Farm proprietors' income decreased $0.9 billion, in contrast to an increase of $0.6 billion.
Nonfarm proprietors' income decreased $0.2 billion, compared with a decrease of $2.5 billion.
Rental income of persons increased $2.8 billion in June, compared with an increase of $3.2
billion in May. Personal income receipts on assets (personal interest income plus personal dividend
income) decreased $7.3 billion in June, the same decrease as in May.
Personal current transfer receipts decreased $131.7 billion in June, in contrast to an increase of
$166.1 billion in May. The May change had reflected one-time payments of $250 to eligible
individuals receiving social security, supplemental security income, and railroad retirement benefits,
which boosted personal current transfers by $157.6 billion at an annual rate in May. The June change
reflected one-time payments of $250 to eligible individuals receiving veteran benefits, which boosted
the level of personal current transfer receipts by $5.6 billion in June.
Contributions for government social insurance -- a subtraction in calculating personal income -decreased $3.5 billion in June, compared with a decrease of $0.8 billion in May.

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Personal current taxes and disposable personal income
Personal current taxes decreased $16.0 billion in June, compared with a decrease of $13.6
billion in May.
Disposable personal income (DPI) -- personal income less personal current taxes -- decreased
$143.8 billion, or 1.3 percent, in June, in contrast to an increase of $168.7 billion, or 1.6 percent in
May.

Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $32.4 billion in June, in contrast to a decrease of $0.1 billion in May. PCE increased $41.4
billion, compared with an increase of $9.0 billion.
Personal saving -- DPI less personal outlays -- was $504.8 billion in June, compared with
$681.0 billion in May. Personal saving as a percentage of disposable personal income was 4.6
percent in June, compared with 6.2 percent in May. 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 PCE price index
Real DPI -- DPI adjusted to remove price changes -- decreased 1.8 percent in June, in contrast
to an increase of 1.5 percent in May.
Real PCE -- PCE adjusted to remove price changes – decreased 0.1 percent in June, in contrast
to an increase of less than 0.1 percent in May. Purchases of durable goods decreased 0.2 percent, in
contrast to an increase of 1.2 percent. Purchases of motor vehicles and parts more than accounted for
the decrease in June and accounted for most of the increase in May. Purchases of nondurable goods
decreased 0.4 percent in June, compared with a decrease of 0.1 percent in May. Purchases of services
decreased less than 0.1 percent, compared with a decrease of 0.1 percent.
PCE price index -- The price index for PCE increased 0.5 percent in June, compared with an
increase of 0.1 percent in May. The PCE price index, excluding food and energy, increased 0.2
percent, compared with an increase of 0.1 percent.

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Revision of the Personal Income and Outlays Estimates
The statistics released today reflect the results of the comprehensive (or benchmark) revision of the
national income and product accounts (NIPAs). Comprehensive revisions, which are carried out about
every 5 years, are an important part of BEA’s regular process for improving and modernizing its accounts
to keep pace with the ever-changing U.S. economy. The comprehensive revisions incorporate several
improvements, including changes in definitions and classifications that update the accounts to more
accurately portray the evolving U.S. economy, changes in presentation that make the NIPA tables more
informative and easier to use, and statistical changes that introduce new and improved methodologies and
that bring in newly available and revised source data.
For this comprehensive revision, personal income, personal outlays, DPI, and personal saving are
revised from 1929 through the first quarter of 2009. The most notable revisions are generally limited to
the period from 1997 to the first quarter of 2009. The revisions for earlier periods tend to be small.
The revisions to personal income and outlays, for 2006-2008, are shown in table 12. Revised and
previously published monthly estimates of personal income, DPI, PCE, personal saving as a percentage of
DPI, real DPI, and real PCE are shown in table 13; revised and previously published annual and quarterly
estimates are shown in table 14.
Personal income was revised up for 2006-2008 to mainly reflect upward revisions to rental income of
persons and to nonfarm proprietors’ income. For 2006 and 2007, the upward revisions reflect upward
revisions to wages and salaries. For 2007 and 2008, the upward revisions reflect upward revisions to
personal interest income. The upward revisions to personal income are moderated by downward revisions
to personal dividend income for 2007 and 2008.
The revisions to personal current taxes were small for 2006 and 2007. The larger downward revision
for 2008 results from the incorporation of new tax collections data from the Treasury Department and the
Social Security Administration. The pattern of revisions to disposable personal income, which is equal to
personal income less personal current taxes, is similar to that for personal income. The magnitudes differ,
especially for 2008, because of the large downward revision to personal current taxes.
Personal outlays was revised up for 2006-2008. This series consists of PCE, personal interest
payments, and personal current transfer payments. The revisions to personal outlays primarily reflect the
upward revisions to PCE.
The personal saving rate was revised up for 2006-2008. Personal saving as a percent of DPI was
revised up for 2006-2008.
NOTE. -- BEA acknowledges the special efforts by the Bureau of Labor Statistics (BLS) with the
assistance of 13 state employment offices to provide preliminary data for the first quarter of 2009 from the
quarterly census of employment and wages. Wage and salary data from the state employment offices of
California, Connecticut, Florida, Georgia, Illinois, Massachusetts, Missouri, North Carolina, New Jersey,
New York, Ohio, Pennsylvania, and Texas were provided. These data greatly improved the estimates of
wages and salaries.
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-6-

Comprehensive Revision of the National Income and Product Accounts
The estimates released today reflect the results of the comprehensive (or benchmark) revision of the
national income and product accounts (NIPAs). More information on the revision is available on the
BEA’s Web site at www.bea.gov/national/an1.htm, including links to an article in the March 2009 Survey
of Current Business that discussed the changes in definitions and presentation that have been implemented
in the revision and to an article in the May Survey that described changes in statistical methods. The
September Survey will contain an article that describes the results of the revision in detail. The Web site
also contains FAQs and other information about the revision.

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 – August 28, 2009 at 8:30 A.M. EDT for
Personal Income and Outlays for July.

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Table 1. Personal Income and Its Disposition (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2006
January
Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Personal saving as a percentage of disposable personal income .............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2 .......................................................
Per capita:
Current dollars...........................................................................................
Chained (2005) dollars ..............................................................................
Population (midperiod, thousands) 3 .................................................................

February

March

April

May

June

July

August

September

October

November December

10,961.6
7,326.0
5,935.2
4,919.6
1,156.7
731.9
3,762.9
974.9
2,787.9
1,015.5
1,390.8
949.0
441.8

11,031.7
7,385.5
5,989.9
4,970.8
1,177.9
742.3
3,792.9
984.9
2,808.0
1,019.1
1,395.6
950.8
444.9

11,086.7
7,409.6
6,011.6
4,989.2
1,179.9
742.1
3,809.2
987.7
2,821.5
1,022.5
1,397.9
952.3
445.7

11,161.3
7,432.3
6,031.2
5,005.7
1,175.8
739.9
3,829.9
993.1
2,836.8
1,025.5
1,401.2
954.9
446.3

11,191.1
7,402.3
6,002.1
4,974.0
1,167.4
733.5
3,806.6
985.4
2,821.2
1,028.2
1,400.1
956.7
443.4

11,259.6
7,425.1
6,022.5
4,991.2
1,167.1
732.7
3,824.1
989.6
2,834.5
1,031.3
1,402.6
958.7
443.9

11,286.5
7,456.9
6,051.6
5,015.6
1,167.7
733.7
3,848.0
996.3
2,851.6
1,036.0
1,405.2
960.0
445.2

11,338.0
7,475.3
6,067.3
5,027.2
1,169.6
734.0
3,857.7
996.5
2,861.2
1,040.1
1,408.0
962.6
445.4

11,386.2
7,520.1
6,107.4
5,060.5
1,172.1
734.5
3,888.4
1,000.5
2,887.9
1,046.8
1,412.7
965.5
447.2

11,435.2
7,569.8
6,152.3
5,102.9
1,183.3
741.7
3,919.5
1,007.9
2,911.6
1,049.4
1,417.4
967.8
449.6

11,488.7
7,617.5
6,195.4
5,143.0
1,189.5
743.3
3,953.5
1,013.2
2,940.3
1,052.4
1,422.1
970.4
451.7

11,590.3
7,688.7
6,260.2
5,205.2
1,204.5
754.5
4,000.7
1,021.7
2,979.0
1,055.0
1,428.4
973.0
455.4

1,123.8
30.9
1,092.9
165.5
1,691.3
1,063.9
627.4
1,565.1
1,542.3
908.4
30.4
603.5
22.8
910.2
1,309.8
9,651.8
9,457.4
9,115.5
3,190.9
1,141.3
2,049.6
5,924.6
221.0
120.9
74.2
46.8
194.4
2.0

1,126.0
27.7
1,098.2
160.2
1,710.9
1,066.7
644.2
1,566.2
1,544.6
917.6
29.6
597.5
21.6
917.1
1,323.2
9,708.5
9,491.6
9,145.6
3,175.1
1,124.2
2,050.9
5,970.5
224.7
121.4
74.6
46.8
216.8
2.2

1,131.0
26.7
1,104.2
158.2
1,731.1
1,071.0
660.0
1,575.7
1,555.1
926.6
28.9
599.6
20.6
918.9
1,331.5
9,755.3
9,531.4
9,183.6
3,176.5
1,132.0
2,044.5
6,007.1
226.1
121.7
75.0
46.8
223.9
2.3

1,131.6
28.0
1,103.7
157.2
1,778.5
1,103.6
674.9
1,582.1
1,562.1
931.1
30.0
601.0
20.0
920.4
1,339.6
9,821.7
9,588.6
9,236.9
3,210.3
1,132.7
2,077.6
6,026.6
224.2
127.5
75.3
52.2
233.1
2.4

1,134.4
28.6
1,105.8
154.1
1,818.2
1,129.4
688.8
1,597.5
1,577.7
939.5
29.7
608.5
19.8
915.2
1,337.9
9,853.2
9,618.5
9,267.3
3,199.0
1,115.7
2,083.3
6,068.3
223.4
127.8
75.7
52.2
234.7
2.4

1,133.6
28.6
1,105.0
148.3
1,855.1
1,153.3
701.8
1,614.1
1,594.3
954.2
28.6
611.6
19.7
916.5
1,343.2
9,916.4
9,647.4
9,295.6
3,210.2
1,126.8
2,083.4
6,085.5
223.6
128.2
76.0
52.2
269.0
2.7

1,129.8
28.0
1,101.8
143.3
1,866.5
1,152.7
713.8
1,609.3
1,589.2
940.1
30.9
618.2
20.1
919.4
1,347.1
9,939.3
9,730.9
9,372.7
3,255.0
1,139.6
2,115.3
6,117.8
229.1
129.1
76.4
52.7
208.4
2.1

1,133.0
28.1
1,104.9
139.7
1,881.5
1,156.6
724.8
1,628.5
1,607.9
954.7
30.7
622.4
20.6
920.0
1,352.2
9,985.8
9,752.4
9,389.1
3,251.2
1,120.8
2,130.4
6,137.9
233.8
129.6
76.9
52.7
233.4
2.3

1,130.6
28.9
1,101.7
138.0
1,896.1
1,161.2
734.9
1,624.4
1,603.2
957.1
29.6
616.4
21.2
923.0
1,363.7
10,022.5
9,781.2
9,413.5
3,245.3
1,136.7
2,108.7
6,168.2
237.7
130.0
77.3
52.7
241.3
2.4

1,135.7
30.5
1,105.3
135.0
1,903.5
1,159.5
744.0
1,620.0
1,597.7
956.4
30.9
610.5
22.3
928.7
1,374.1
10,061.1
9,809.8
9,440.7
3,231.5
1,137.2
2,094.3
6,209.2
236.4
132.6
77.9
54.8
251.3
2.5

1,139.1
32.1
1,107.0
131.9
1,909.3
1,157.1
752.2
1,623.5
1,600.3
958.2
29.5
612.5
23.2
932.6
1,391.3
10,097.4
9,831.9
9,460.5
3,228.4
1,138.8
2,089.6
6,232.1
238.2
133.2
78.4
54.8
265.5
2.6

1,146.8
33.9
1,112.9
126.8
1,914.3
1,154.9
759.4
1,653.7
1,629.2
975.5
30.4
623.4
24.5
940.0
1,415.2
10,175.2
9,927.5
9,551.0
3,287.3
1,150.5
2,136.8
6,263.7
242.9
133.7
78.9
54.8
247.6
2.4

9,237.7

9,301.8

9,332.2

9,361.7

9,352.1

9,384.5

9,384.8

9,380.0

9,449.2

9,522.4

9,558.7

9,591.3

9,488.7

9,540.7

9,571.9

9,598.8

9,605.1

9,648.0

9,639.1

9,646.9

9,701.6

9,761.0

9,783.7

9,821.6

32,439
31,891
297,537

32,607
32,043
297,741

32,741
32,126
297,951

32,940
32,193
298,167

33,021
32,190
298,392

33,205
32,307
298,639

33,253
32,249
298,897

33,378
32,245
299,173

33,469
32,397
299,455

33,568
32,567
299,720

33,661
32,616
299,969

33,894
32,716
300,205

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

3. 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 1. Personal Income and Its Disposition (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2007
January
Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Personal saving as a percentage of disposable personal income .............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2 .......................................................
Per capita:
Current dollars...........................................................................................
Chained (2005) dollars ..............................................................................
Population (midperiod, thousands) 3 .................................................................

February

March

April

May

June

July

August

September

October

November December

11,628.5
7,745.1
6,310.6
5,240.9
1,205.8
753.2
4,035.1
1,025.9
3,009.2
1,069.7
1,434.5
977.8
456.7

11,709.4
7,782.0
6,343.3
5,270.0
1,203.0
753.2
4,067.1
1,032.0
3,035.1
1,073.3
1,438.7
980.6
458.1

11,782.7
7,819.4
6,376.8
5,300.0
1,210.0
755.3
4,090.0
1,040.7
3,049.3
1,076.7
1,442.7
983.2
459.5

11,790.0
7,808.8
6,364.4
5,283.9
1,210.0
754.2
4,073.9
1,042.6
3,031.3
1,080.5
1,444.4
986.2
458.3

11,821.3
7,813.4
6,366.3
5,282.4
1,208.5
751.0
4,073.9
1,045.5
3,028.4
1,083.9
1,447.1
989.4
457.7

11,858.9
7,836.8
6,385.8
5,297.7
1,212.6
753.3
4,085.1
1,049.7
3,035.4
1,088.1
1,451.1
992.5
458.5

11,891.3
7,843.0
6,389.3
5,301.2
1,208.6
749.9
4,092.6
1,041.9
3,050.6
1,088.2
1,453.6
994.8
458.8

11,937.3
7,855.5
6,399.4
5,306.2
1,206.0
747.9
4,100.2
1,039.7
3,060.4
1,093.2
1,456.1
997.1
459.1

12,008.4
7,910.3
6,448.9
5,350.7
1,214.3
751.8
4,136.5
1,047.0
3,089.5
1,098.1
1,461.4
998.8
462.6

12,053.2
7,938.3
6,472.3
5,370.4
1,218.0
753.4
4,152.4
1,051.9
3,100.5
1,101.9
1,466.0
1,001.7
464.3

12,105.2
7,989.6
6,517.0
5,411.4
1,231.4
761.8
4,180.0
1,057.1
3,122.9
1,105.7
1,472.5
1,005.1
467.5

12,142.5
8,010.2
6,532.5
5,422.6
1,226.6
757.5
4,195.9
1,061.8
3,134.2
1,109.9
1,477.7
1,008.8
469.0

1,089.7
36.0
1,053.7
120.0
1,940.9
1,175.3
765.6
1,682.1
1,656.2
974.3
32.2
649.6
25.9
949.3
1,443.0
10,185.5
9,995.6
9,613.9
3,291.7
1,153.4
2,138.4
6,322.1
244.4
137.3
79.5
57.8
189.9
1.9

1,095.2
37.1
1,058.1
119.1
1,968.3
1,197.9
770.4
1,697.4
1,670.3
981.6
32.4
656.3
27.1
952.6
1,460.6
10,248.8
10,034.5
9,653.6
3,292.2
1,148.5
2,143.8
6,361.4
243.1
137.8
80.0
57.8
214.3
2.1

1,097.6
37.1
1,060.6
124.1
1,995.3
1,221.6
773.7
1,701.9
1,673.8
986.9
29.5
657.4
28.2
955.7
1,474.8
10,308.0
10,084.9
9,707.8
3,334.9
1,157.1
2,177.8
6,372.9
238.8
138.3
80.5
57.8
223.1
2.2

1,095.8
36.1
1,059.7
133.9
2,010.0
1,234.4
775.6
1,694.9
1,665.9
989.0
32.3
644.6
29.0
953.5
1,476.0
10,314.0
10,123.4
9,737.0
3,324.2
1,151.1
2,173.1
6,412.8
247.4
138.9
81.0
57.9
190.7
1.8

1,097.3
35.5
1,061.8
140.9
2,022.4
1,246.5
776.0
1,700.1
1,670.3
1,000.5
31.7
638.1
29.8
952.8
1,480.7
10,340.6
10,164.2
9,768.6
3,354.4
1,164.4
2,190.0
6,414.2
256.2
139.4
81.5
57.9
176.4
1.7

1,094.9
35.4
1,059.5
146.0
2,033.6
1,258.7
774.9
1,702.3
1,671.8
1,005.1
29.7
637.0
30.5
954.7
1,488.6
10,370.4
10,187.1
9,782.0
3,336.0
1,149.3
2,186.8
6,446.0
265.1
139.9
82.0
57.9
183.3
1.8

1,095.0
35.6
1,059.4
146.1
2,051.3
1,278.9
772.4
1,711.6
1,680.5
1,002.5
33.8
644.3
31.1
955.6
1,494.4
10,396.8
10,224.5
9,816.7
3,351.7
1,148.8
2,202.9
6,465.0
266.6
141.2
82.5
58.7
172.3
1.7

1,093.6
37.1
1,056.5
149.3
2,066.4
1,298.0
768.3
1,729.0
1,697.4
1,018.2
30.9
648.3
31.6
956.5
1,498.8
10,438.5
10,276.7
9,866.7
3,354.0
1,162.8
2,191.2
6,512.7
268.2
141.8
83.1
58.7
161.8
1.6

1,090.9
39.7
1,051.2
155.1
2,079.7
1,316.8
762.9
1,735.9
1,703.9
1,017.4
33.8
652.7
32.0
963.6
1,508.7
10,499.7
10,325.5
9,913.3
3,394.0
1,172.7
2,221.4
6,519.2
270.0
142.3
83.6
58.7
174.2
1.7

1,097.5
43.7
1,053.8
162.8
2,078.6
1,322.7
755.9
1,743.2
1,710.9
1,016.9
33.1
660.9
32.3
967.2
1,512.2
10,541.0
10,364.7
9,954.0
3,412.2
1,178.9
2,233.3
6,541.8
266.2
144.5
84.1
60.4
176.3
1.7

1,104.1
47.8
1,056.3
168.7
2,071.1
1,323.6
747.5
1,745.5
1,713.1
1,016.7
32.9
663.5
32.5
973.7
1,522.6
10,582.6
10,448.5
10,042.3
3,470.4
1,178.5
2,291.8
6,571.9
261.1
145.1
84.6
60.4
134.1
1.3

1,104.6
52.2
1,052.4
172.6
2,059.7
1,322.1
737.6
1,772.3
1,739.8
1,035.8
35.8
668.1
32.5
976.8
1,530.7
10,611.8
10,461.7
10,061.4
3,464.2
1,160.8
2,303.4
6,597.1
254.8
145.6
85.1
60.4
150.0
1.4

9,574.6

9,605.8

9,635.5

9,629.9

9,629.8

9,647.7

9,654.0

9,668.3

9,691.1

9,687.7

9,669.4

9,651.9

9,804.7

9,833.0

9,852.6

9,838.8

9,838.5

9,850.8

9,859.9

9,886.3

9,905.4

9,904.7

9,877.4

9,876.6

33,903
32,636
300,428

34,090
32,707
300,642

34,261
32,748
300,863

34,256
32,677
301,089

34,317
32,651
301,325

34,387
32,664
301,582

34,445
32,666
301,841

34,552
32,725
302,105

34,724
32,758
302,377

34,831
32,729
302,632

34,941
32,613
302,869

35,012
32,586
303,094

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

3. 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 1. Personal Income and Its Disposition (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2008
January
Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Personal saving as a percentage of disposable personal income .............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2 .......................................................
Per capita:
Current dollars...........................................................................................
Chained (2005) dollars ..............................................................................
Population (midperiod, thousands) 3 .................................................................

February

March

April

May

June

July

August

September

October

November December

12,140.2
8,012.3
6,529.4
5,408.0
1,218.5
751.9
4,189.5
1,058.3
3,131.3
1,121.4
1,482.9
1,013.0
469.9

12,134.4
8,013.4
6,528.4
5,402.8
1,213.9
748.1
4,188.9
1,054.0
3,134.9
1,125.5
1,485.0
1,014.8
470.2

12,152.0
8,026.9
6,541.2
5,412.2
1,218.9
750.3
4,193.3
1,053.7
3,139.6
1,128.9
1,485.7
1,014.2
471.5

12,162.6
8,021.2
6,531.1
5,399.0
1,211.4
745.9
4,187.6
1,051.5
3,136.1
1,132.1
1,490.1
1,019.1
471.0

12,361.9
8,035.5
6,541.9
5,405.8
1,210.7
745.2
4,195.1
1,049.9
3,145.2
1,136.1
1,493.6
1,021.6
471.9

12,354.2
8,041.6
6,544.7
5,403.6
1,209.7
744.9
4,193.9
1,050.6
3,143.3
1,141.1
1,496.9
1,024.4
472.6

12,254.8
8,057.0
6,557.8
5,412.6
1,208.4
744.1
4,204.2
1,048.2
3,156.0
1,145.2
1,499.2
1,025.7
473.5

12,298.4
8,082.4
6,580.0
5,431.1
1,208.9
741.0
4,222.2
1,049.9
3,172.3
1,148.9
1,502.3
1,026.8
475.5

12,306.6
8,067.8
6,565.1
5,413.8
1,201.2
735.9
4,212.6
1,045.5
3,167.1
1,151.3
1,502.7
1,027.7
475.0

12,268.2
8,071.6
6,566.3
5,412.9
1,202.7
738.8
4,210.2
1,043.9
3,166.3
1,153.4
1,505.3
1,030.6
474.7

12,235.6
8,058.2
6,550.2
5,395.1
1,197.4
736.1
4,197.7
1,040.8
3,156.9
1,155.1
1,507.9
1,033.8
474.2

12,196.6
8,021.2
6,514.0
5,358.0
1,176.4
721.7
4,181.6
1,033.4
3,148.2
1,156.0
1,507.2
1,035.2
472.0

1,117.5
56.9
1,060.5
174.6
2,035.6
1,309.4
726.3
1,783.9
1,751.3
1,041.6
34.2
675.5
32.5
983.8
1,527.2
10,612.9
10,472.9
10,079.6
3,451.9
1,155.0
2,296.9
6,627.8
244.6
148.7
85.6
63.1
140.0
1.3

1,113.5
58.3
1,055.1
178.9
2,019.8
1,304.0
715.9
1,793.5
1,760.9
1,047.1
34.8
679.1
32.6
984.7
1,532.0
10,602.4
10,465.2
10,077.4
3,426.2
1,145.8
2,280.3
6,651.2
238.6
149.2
86.1
63.1
137.2
1.3

1,114.6
56.5
1,058.2
186.1
2,006.9
1,300.5
706.4
1,804.9
1,772.3
1,058.7
38.1
675.5
32.6
987.5
1,536.0
10,616.0
10,514.2
10,128.2
3,463.6
1,136.4
2,327.1
6,664.7
236.3
149.7
86.5
63.1
101.8
1.0

1,110.3
51.3
1,059.0
195.0
2,003.9
1,306.0
697.9
1,819.3
1,786.7
1,056.3
37.4
693.1
32.6
987.0
1,518.0
10,644.6
10,555.7
10,160.2
3,460.2
1,133.0
2,327.1
6,700.1
242.3
153.2
87.0
66.2
88.9
0.8

1,111.3
48.5
1,062.8
203.0
1,997.3
1,306.9
690.4
2,004.1
1,971.5
1,066.4
36.9
868.2
32.6
989.2
1,125.6
11,236.3
10,582.3
10,183.7
3,467.8
1,129.3
2,338.6
6,715.9
245.1
153.6
87.4
66.2
654.0
5.8

1,114.1
48.3
1,065.8
210.5
1,990.7
1,307.0
683.7
1,987.7
1,955.1
1,070.8
41.7
842.6
32.6
990.4
1,335.1
11,019.0
10,638.6
10,240.2
3,496.7
1,117.3
2,379.4
6,743.6
244.4
154.0
87.8
66.2
380.4
3.5

1,118.7
50.4
1,068.3
216.4
1,996.3
1,318.2
678.1
1,859.1
1,826.5
1,081.3
44.1
701.1
32.6
992.7
1,347.9
10,907.0
10,625.6
10,231.4
3,473.7
1,089.9
2,383.8
6,757.7
239.3
154.9
88.2
66.7
281.4
2.6

1,115.3
50.1
1,065.1
222.2
2,001.5
1,328.1
673.3
1,873.7
1,841.1
1,078.9
60.4
701.8
32.6
996.6
1,489.4
10,809.0
10,624.6
10,232.1
3,487.5
1,105.2
2,382.3
6,744.5
237.3
155.2
88.5
66.7
184.4
1.7

1,109.4
47.3
1,062.1
228.1
2,006.5
1,337.0
669.6
1,890.2
1,857.5
1,081.4
68.7
707.5
32.7
995.4
1,474.7
10,831.9
10,590.5
10,196.7
3,427.7
1,070.2
2,357.5
6,769.0
238.2
155.6
88.9
66.7
241.4
2.2

1,098.6
42.0
1,056.6
234.2
1,975.0
1,308.3
666.7
1,884.4
1,851.7
1,082.1
58.9
710.7
32.7
995.6
1,455.0
10,813.2
10,504.7
10,118.7
3,338.7
1,029.2
2,309.4
6,780.1
234.9
151.0
89.2
61.8
308.5
2.9

1,082.3
38.5
1,043.8
237.0
1,956.5
1,291.6
664.8
1,895.8
1,863.1
1,088.7
68.0
706.4
32.7
994.3
1,431.6
10,803.9
10,394.5
10,013.7
3,229.8
1,024.9
2,204.9
6,783.9
229.4
151.3
89.5
61.8
409.5
3.8

1,069.9
36.7
1,033.2
238.9
1,942.8
1,278.9
663.9
1,913.8
1,881.0
1,090.2
83.9
706.9
32.8
990.0
1,416.3
10,780.2
10,270.6
9,897.0
3,114.1
1,005.5
2,108.6
6,782.9
221.9
151.6
89.8
61.8
509.7
4.7

9,614.1

9,581.6

9,556.2

9,531.7

9,509.5

9,455.4

9,433.1

9,455.9

9,437.0

9,451.6

9,518.6

9,514.1

9,852.4

9,823.8

9,804.5

9,809.3

10,316.1

10,050.7

9,897.0

9,804.5

9,813.4

9,842.5

9,945.9

9,974.3

34,991
32,484
303,302

34,934
32,369
303,496

34,956
32,284
303,698

35,026
32,278
303,904

36,947
33,921
304,121

36,204
33,022
304,360

35,807
32,491
304,608

35,454
32,160
304,870

35,498
32,161
305,138

35,408
32,229
305,390

35,350
32,543
305,624

35,247
32,612
305,845

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

3. 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 1. Personal Income and Its Disposition (Months)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2009
January
Personal income...................................................................................................
Compensation of employees, received..........................................................
Wage and salary disbursements.................................................................
Private industries........................................................................................
Goods-producing industries ...................................................................
Manufacturing ....................................................................................
Services-producing industries................................................................
Trade, transportation, and utilities ......................................................
Other services-producing industries ..................................................
Government ...............................................................................................
Supplements to wages and salaries ..........................................................
Employer contributions for employee pension and insurance funds ..........
Employer contributions for government social insurance ...........................
Proprietors’ income with inventory valuation and capital consumption
adjustments ..................................................................................................
Farm...............................................................................................................
Nonfarm .........................................................................................................
Rental income of persons with capital consumption adjustment ...............
Personal income receipts on assets ..............................................................
Personal interest income................................................................................
Personal dividend income ..............................................................................
Personal current transfer receipts..................................................................
Government social benefits to persons..........................................................
Old-age, survivors, disability, and health insurance benefits......................
Government unemployment insurance benefits.........................................
Other ..........................................................................................................
Other current transfer receipts, from business (net).......................................
Less: Contributions for government social insurance, domestic ...............
Less: Personal current taxes ..............................................................................
Equals: Disposable personal income.................................................................
Less: Personal outlays ........................................................................................
Personal consumption expenditures ..................................................................
Goods.............................................................................................................
Durable goods............................................................................................
Nondurable goods......................................................................................
Services .........................................................................................................
Personal interest payments 1 .............................................................................
Personal current transfer payments....................................................................
To government................................................................................................
To the rest of the world (net)...........................................................................
Equals: Personal saving ......................................................................................
Personal saving as a percentage of disposable personal income ..............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 ..........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2........................................................
Per capita:
Current dollars............................................................................................
Chained (2005) dollars...............................................................................
Population (midperiod, thousands) 3 ..................................................................

February

March

April

June p

May

12,068.0
7,897.1
6,394.0
5,225.0
1,138.9
694.3
4,086.1
1,013.8
3,072.3
1,169.0
1,503.1
1,036.7
466.5

11,966.2
7,831.7
6,332.0
5,160.5
1,120.2
685.9
4,040.3
1,005.3
3,035.0
1,171.5
1,499.7
1,037.8
461.9

11,911.2
7,788.5
6,290.7
5,115.9
1,106.1
678.4
4,009.9
995.3
3,014.6
1,174.8
1,497.8
1,038.9
459.0

11,939.6
7,769.1
6,271.3
5,090.7
1,093.8
673.3
3,996.9
992.7
3,004.1
1,180.6
1,497.8
1,040.3
457.5

12,094.7
7,763.1
6,264.4
5,079.4
1,082.9
664.9
3,996.5
993.8
3,002.7
1,184.9
1,498.8
1,041.7
457.1

11,934.9
7,737.1
6,238.6
5,050.8
1,071.8
658.2
3,979.0
986.0
2,993.1
1,187.7
1,498.5
1,043.3
455.2

1,050.2
31.0
1,019.2
242.2
1,894.0
1,261.0
633.0
1,966.0
1,933.5
1,120.4
87.8
725.3
32.5
981.4
1,221.4
10,846.7
10,347.8
9,972.7
3,183.0
1,031.2
2,151.8
6,789.7
221.2
153.9
90.1
63.8
498.8
4.6

1,036.2
26.1
1,010.1
245.9
1,845.5
1,243.4
602.1
1,979.7
1,947.2
1,129.1
92.4
725.7
32.5
972.9
1,194.8
10,771.4
10,386.0
10,011.3
3,219.7
1,030.2
2,189.5
6,791.6
220.4
154.2
90.4
63.8
385.4
3.6

1,027.1
25.0
1,002.1
249.7
1,797.1
1,225.8
571.2
2,016.2
1,983.6
1,136.0
108.3
739.3
32.6
967.4
1,161.7
10,749.5
10,353.1
9,978.9
3,190.3
1,014.3
2,176.0
6,788.6
219.7
154.6
90.7
63.8
396.4
3.7

1,025.0
27.1
997.9
252.2
1,789.8
1,236.7
553.1
2,068.4
2,035.8
1,148.4
113.8
773.5
32.6
964.7
1,093.9
10,845.7
10,333.5
9,969.2
3,166.4
1,000.9
2,165.5
6,802.8
210.3
153.9
91.0
62.9
512.3
4.7

1,023.1
27.7
995.4
255.4
1,782.5
1,247.5
534.9
2,234.5
2,201.9
1,145.7
120.9
935.2
32.7
963.9
1,080.3
11,014.4
10,333.4
9,978.2
3,178.4
1,011.6
2,166.8
6,799.8
201.0
154.3
91.4
62.9
681.0
6.2

1,022.1
26.8
995.2
258.2
1,775.2
1,258.4
516.8
2,102.8
2,070.1
1,159.2
129.9
781.0
32.7
960.4
1,064.3
10,870.6
10,365.8
10,019.6
3,212.5
1,009.8
2,202.7
6,807.1
191.6
154.6
91.7
62.9
504.8
4.6

9,330.0

9,196.1

9,120.7

9,092.1

9,076.8

9,001.9

10,017.7

9,918.8

9,908.4

9,989.6

10,139.4

9,952.7

35,441
32,732
306,049

35,173
32,389
306,243

35,078
32,334
306,443

35,369
32,577
306,648

35,893
33,042
306,865

35,397
32,408
307,104

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

3. 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)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2006

2007

2008

2006
I

Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Personal saving as a percentage of disposable personal income .............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2 .......................................................
Per capita:
Current dollars...........................................................................................
Chained (2005) dollars ..............................................................................
Population (midperiod, thousands) 3 .................................................................

II

III

IV

11,268.1
7,475.7
6,068.9
5,033.7
1,176.0
738.7
3,857.8
996.0
2,861.8
1,035.2
1,406.9
960.1
446.7

11,894.1
7,862.7
6,408.9
5,319.8
1,212.9
753.5
4,106.9
1,044.7
3,062.2
1,089.1
1,453.8
993.0
460.8

12,238.8
8,042.4
6,545.9
5,404.6
1,206.5
742.0
4,198.1
1,048.3
3,149.8
1,141.3
1,496.6
1,023.9
472.7

11,026.7
7,373.7
5,978.9
4,959.9
1,171.5
738.8
3,788.3
982.5
2,805.8
1,019.0
1,394.8
950.7
444.1

11,204.0
7,419.9
6,018.6
4,990.3
1,170.1
735.4
3,820.2
989.4
2,830.8
1,028.3
1,401.3
956.8
444.5

11,336.9
7,484.1
6,075.4
5,034.5
1,169.8
734.1
3,864.7
997.8
2,866.9
1,041.0
1,408.7
962.7
445.9

11,504.8
7,625.3
6,202.6
5,150.4
1,192.5
746.5
3,957.9
1,014.3
2,943.6
1,052.3
1,422.6
970.4
452.2

1,133.0
29.3
1,103.6
146.5
1,829.7
1,127.5
702.2
1,605.0
1,583.6
943.3
29.9
610.4
21.4
921.8
1,352.4
9,915.7
9,680.7
9,322.7
3,221.7
1,133.0
2,088.7
6,100.9
230.1
128.0
76.4
51.6
235.0
2.4

1,096.4
39.4
1,056.9
144.9
2,031.5
1,266.4
765.1
1,718.0
1,687.8
1,003.7
32.3
651.7
30.2
959.3
1,490.9
10,403.1
10,224.3
9,826.4
3,365.0
1,160.5
2,204.5
6,461.4
256.8
141.0
82.3
58.7
178.9
1.7

1,106.3
48.7
1,057.5
210.4
1,994.4
1,308.0
686.4
1,875.9
1,843.2
1,070.3
50.6
722.4
32.6
990.6
1,432.4
10,806.4
10,520.0
10,129.9
3,403.2
1,095.2
2,308.0
6,726.8
237.7
152.3
87.9
64.5
286.4
2.7

1,126.9
28.4
1,098.5
161.3
1,711.1
1,067.2
643.9
1,569.0
1,547.3
917.5
29.6
600.2
21.7
915.4
1,321.5
9,705.2
9,493.5
9,148.2
3,180.8
1,132.5
2,048.3
5,967.4
223.9
121.4
74.6
46.8
211.7
2.2

1,133.2
28.4
1,104.8
153.2
1,817.2
1,128.7
688.5
1,597.9
1,578.0
941.6
29.4
607.0
19.8
917.4
1,340.2
9,863.8
9,618.2
9,266.6
3,206.5
1,125.1
2,081.4
6,060.1
223.7
127.8
75.7
52.2
245.6
2.5

1,131.2
28.4
1,102.8
140.3
1,881.3
1,156.8
724.5
1,620.7
1,600.1
950.7
30.4
619.0
20.6
920.8
1,354.3
9,982.5
9,754.9
9,391.8
3,250.5
1,132.4
2,118.1
6,141.3
233.5
129.6
76.9
52.7
227.7
2.3

1,140.6
32.2
1,108.4
131.2
1,909.0
1,157.2
751.9
1,632.4
1,609.1
963.4
30.3
615.5
23.3
933.8
1,393.5
10,111.2
9,856.4
9,484.1
3,249.1
1,142.2
2,106.9
6,235.0
239.2
133.2
78.4
54.8
254.8
2.5

9,404.8

9,645.4

9,504.6

9,290.6

9,366.1

9,404.7

9,557.5

9,650.7

9,860.6

9,911.3

9,533.8

9,617.3

9,662.5

9,788.8

33,183
32,296
298,820

34,478
32,679
301,737

35,486
32,546
304,529

32,596
32,020
297,743

33,056
32,230
298,399

33,367
32,297
299,175

33,708
32,633
299,965

1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
3. 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)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2007
I
Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Personal saving as a percentage of disposable personal income .............
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 2 .......................................................
Per capita:
Current dollars...........................................................................................
Chained (2005) dollars ..............................................................................
Population (midperiod, thousands) 3 .................................................................

II

2008
III

IV

I

II

2009
III

IV

I

II

11,706.9
7,782.2
6,343.6
5,270.3
1,206.3
753.9
4,064.1
1,032.9
3,031.2
1,073.2
1,438.6
980.5
458.1

11,823.4
7,819.7
6,372.2
5,288.0
1,210.4
752.8
4,077.7
1,046.0
3,031.7
1,084.2
1,447.5
989.4
458.2

11,945.6
7,869.6
6,412.5
5,319.4
1,209.6
749.9
4,109.8
1,042.9
3,066.8
1,093.2
1,457.1
996.9
460.2

12,100.3
7,979.3
6,507.3
5,401.4
1,225.3
757.6
4,176.1
1,056.9
3,119.2
1,105.8
1,472.1
1,005.2
466.9

12,142.2
8,017.5
6,533.0
5,407.7
1,217.1
750.1
4,190.6
1,055.3
3,135.3
1,125.3
1,484.5
1,014.0
470.5

12,292.9
8,032.8
6,539.2
5,402.8
1,210.6
745.3
4,192.2
1,050.7
3,141.5
1,136.4
1,493.5
1,021.7
471.8

12,286.6
8,069.1
6,567.7
5,419.2
1,206.2
740.3
4,213.0
1,047.8
3,165.2
1,148.5
1,501.4
1,026.7
474.7

12,233.5
8,050.3
6,543.5
5,388.6
1,192.2
732.2
4,196.5
1,039.4
3,157.1
1,154.9
1,506.8
1,033.2
473.6

11,981.8
7,839.1
6,338.9
5,167.1
1,121.7
686.2
4,045.4
1,004.8
3,040.6
1,171.8
1,500.2
1,037.8
462.4

11,989.8
7,756.4
6,258.1
5,073.7
1,082.9
665.5
3,990.8
990.8
3,000.0
1,184.4
1,498.4
1,041.7
456.6

1,094.2
36.7
1,057.5
121.1
1,968.2
1,198.3
769.9
1,693.8
1,666.7
981.0
31.4
654.4
27.1
952.5
1,459.5
10,247.4
10,038.3
9,658.5
3,306.3
1,153.0
2,153.3
6,352.2
242.1
137.8
80.0
57.8
209.1
2.0

1,096.0
35.7
1,060.3
140.3
2,022.0
1,246.5
775.5
1,699.1
1,669.3
998.2
31.2
639.9
29.8
953.7
1,481.8
10,341.7
10,158.2
9,762.5
3,338.2
1,154.9
2,183.3
6,424.3
256.2
139.4
81.5
57.9
183.5
1.8

1,093.2
37.5
1,055.7
150.2
2,065.8
1,297.9
767.9
1,725.5
1,693.9
1,012.7
32.8
648.4
31.6
958.6
1,500.7
10,445.0
10,275.6
9,865.6
3,366.6
1,161.4
2,205.2
6,499.0
268.2
141.8
83.1
58.7
169.4
1.6

1,102.1
47.9
1,054.2
168.0
2,069.8
1,322.8
747.0
1,753.7
1,721.2
1,023.1
33.9
664.2
32.4
972.6
1,521.9
10,578.4
10,425.0
10,019.2
3,448.9
1,172.7
2,276.2
6,570.3
260.7
145.0
84.6
60.4
153.5
1.5

1,115.2
57.2
1,057.9
179.9
2,020.8
1,304.6
716.2
1,794.1
1,761.5
1,049.1
35.7
676.7
32.6
985.3
1,531.8
10,610.4
10,484.1
10,095.1
3,447.2
1,145.8
2,301.4
6,647.9
239.8
149.2
86.1
63.1
126.3
1.2

1,111.9
49.4
1,062.5
202.8
1,997.3
1,306.6
690.7
1,937.0
1,904.4
1,064.5
38.7
801.3
32.6
988.9
1,326.2
10,966.7
10,592.2
10,194.7
3,474.9
1,126.5
2,348.4
6,719.8
243.9
153.6
87.4
66.2
374.4
3.4

1,114.4
49.3
1,065.1
222.2
2,001.4
1,327.8
673.7
1,874.3
1,841.7
1,080.5
57.7
703.5
32.6
994.9
1,437.3
10,849.3
10,613.6
10,220.1
3,463.0
1,088.5
2,374.5
6,757.1
238.3
155.2
88.5
66.7
235.7
2.2

1,083.6
39.0
1,044.5
236.7
1,958.1
1,292.9
665.2
1,898.0
1,865.3
1,087.0
70.3
708.0
32.7
993.3
1,434.3
10,799.1
10,389.9
10,009.8
3,227.5
1,019.9
2,207.6
6,782.3
228.8
151.3
89.5
61.8
409.2
3.8

1,037.8
27.3
1,010.5
245.9
1,845.5
1,243.4
602.1
1,987.3
1,954.7
1,128.5
96.2
730.1
32.5
973.9
1,192.6
10,789.2
10,362.3
9,987.7
3,197.7
1,025.2
2,172.4
6,790.0
220.4
154.2
90.4
63.8
426.9
4.0

1,023.4
27.2
996.2
255.2
1,782.5
1,247.5
534.9
2,135.2
2,102.6
1,151.1
121.6
829.9
32.7
963.0
1,079.5
10,910.3
10,344.2
9,989.0
3,185.8
1,007.4
2,178.3
6,803.2
201.0
154.3
91.4
62.9
566.0
5.2

9,605.4

9,635.9

9,671.1

9,669.6

9,583.9

9,498.8

9,442.0

9,494.4

9,215.5

9,056.9

9,830.2

9,842.7

9,883.9

9,886.2

9,826.8

10,059.0

9,838.3

9,920.4

9,948.3

10,027.2

34,085
32,697
300,644

34,320
32,664
301,332

34,574
32,716
302,108

34,928
32,642
302,865

34,960
32,379
303,498

36,059
33,075
304,128

35,586
32,270
304,872

35,335
32,460
305,620

35,231
32,485
306,245

35,553
32,675
306,872

1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
3. 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)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2006
January
Personal income..................................................................
Compensation of employees, received .........................
Wage and salary disbursements................................
Private industries.......................................................
Goods-producing industries ..................................
Manufacturing....................................................
Services-producing industries...............................
Trade, transportation, and utilities .....................
Other services-producing industries .................
Government...............................................................
Supplements to wages and salaries..........................
Employer contributions for employee pension and
insurance funds.....................................................
Employer contributions for government social
insurance...............................................................
Proprietors’ income with inventory valuation and
capital consumption adjustments .............................
Farm ..............................................................................
Nonfarm.........................................................................
Rental income of persons with capital consumption
adjustment ...................................................................
Personal income receipts on assets .............................
Personal interest income ...............................................
Personal dividend income .............................................
Personal current transfer receipts.................................
Government social benefits to persons .........................
Old-age, survivors, disability, and health insurance
benefits..................................................................
Government unemployment insurance benefits ........
Other .........................................................................
Other current transfer receipts, from business (net) ......
Less: Contributions for government social insurance,
domestic.......................................................................
Less: Personal current taxes..............................................
Equals: Disposable personal income................................
Less: Personal outlays........................................................
Personal consumption expenditures..................................
Goods............................................................................
Durable goods ...........................................................
Nondurable goods .....................................................
Services ........................................................................
Personal interest payments 1.............................................
Personal current transfer payments...................................
To government...............................................................
To the rest of the world (net)..........................................
Equals: Personal saving .....................................................
Addenda:
Personal income excluding current transfer receipts,
billions of chained (2005) dollars 2 ................................
Disposable personal income, billions of chained (2005)
dollars 2 .........................................................................

February

March

April

166.6
120.1
108.1
97.4
39.6
21.1
57.8
13.4
44.3
10.6
12.0

70.1
59.5
54.7
51.2
21.2
10.4
30.0
10.0
20.1
3.6
4.8

55.0
24.1
21.7
18.4
2.0
–0.2
16.3
2.8
13.5
3.4
2.3

74.6
22.7
19.6
16.5
–4.1
–2.2
20.7
5.4
15.3
3.0
3.3

3.6

1.8

1.5

8.4

3.1

0.8

23.8
–5.2
29.0

2.2
–3.2
5.3

–6.8
17.0
–0.8
17.7
35.9
37.9

May

June

2007
July

August

29.8
–30.0
–29.1
–31.7
–8.4
–6.4
–23.3
–7.7
–15.6
2.7
–1.1

68.5
22.8
20.4
17.2
–0.3
–0.8
17.5
4.2
13.3
3.1
2.5

26.9
31.8
29.1
24.4
0.6
1.0
23.9
6.7
17.1
4.7
2.6

51.5
18.4
15.7
11.6
1.9
0.3
9.7
0.2
9.6
4.1
2.8

2.6

1.8

2.0

1.3

0.6

–2.9

0.5

1.3

5.0
–1.0
6.0

0.6
1.3
–0.5

2.8
0.6
2.1

–0.8
0.0
–0.8

–5.3
19.6
2.8
16.8
1.1
2.3

–2.0
20.2
4.3
15.8
9.5
10.5

–1.0
47.4
32.6
14.9
6.4
7.0

–3.1
39.7
25.8
13.9
15.4
15.6

41.3
0.2
–3.6
–1.9

9.2
–0.8
–6.0
–1.2

9.0
–0.7
2.1
–1.0

4.5
1.1
1.4
–0.6

23.5
45.7
120.9
82.5
77.0
65.8
30.1
35.7
11.2
6.0
–0.6
1.4
–1.9
38.4

6.9
13.4
56.7
34.2
30.1
–15.8
–17.1
1.3
45.9
3.7
0.5
0.4
0.0
22.4

1.8
8.3
46.8
39.8
38.0
1.4
7.8
–6.4
36.6
1.4
0.3
0.4
0.0
7.1

September October

November December

January

February

48.2
44.8
40.1
33.3
2.5
0.5
30.7
4.0
26.7
6.7
4.7

49.0
49.7
44.9
42.4
11.2
7.2
31.1
7.4
23.7
2.6
4.7

53.5
47.7
43.1
40.1
6.2
1.6
34.0
5.3
28.7
3.0
4.7

101.6
71.2
64.8
62.2
15.0
11.2
47.2
8.5
38.7
2.6
6.3

38.2
56.4
50.4
35.7
1.3
–1.3
34.4
4.2
30.2
14.7
6.1

80.9
36.9
32.7
29.1
–2.8
0.0
32.0
6.1
25.9
3.6
4.2

2.6

2.9

2.3

2.6

2.6

4.8

2.8

0.2

1.8

2.4

2.1

3.7

1.3

1.4

–3.8
–0.6
–3.2

3.2
0.1
3.1

–2.4
0.8
–3.2

5.1
1.6
3.6

3.4
1.6
1.7

7.7
1.8
5.9

–57.1
2.1
–59.2

5.5
1.1
4.4

–5.8
36.9
23.9
13.0
16.6
16.6

–5.0
11.4
–0.6
12.0
–4.8
–5.1

–3.6
15.0
3.9
11.0
19.2
18.7

–1.7
14.6
4.6
10.1
–4.1
–4.7

–3.0
7.4
–1.7
9.1
–4.4
–5.5

–3.1
5.8
–2.4
8.2
3.5
2.6

–5.1
5.0
–2.2
7.2
30.2
28.9

–6.8
26.6
20.4
6.2
28.4
27.0

–0.9
27.4
22.6
4.8
15.3
14.1

8.4
–0.3
7.5
–0.2

14.7
–1.1
3.1
–0.1

–14.1
2.3
6.6
0.4

14.6
–0.2
4.2
0.5

2.4
–1.1
–6.0
0.6

–0.7
1.3
–5.9
1.1

1.8
–1.4
2.0
0.9

17.3
0.9
10.9
1.3

–1.2
1.8
26.2
1.4

7.3
0.2
6.7
1.2

1.5
8.1
66.4
57.2
53.3
33.8
0.7
33.1
19.5
–1.9
5.8
0.3
5.4
9.2

–5.2
–1.7
31.5
29.9
30.4
–11.3
–17.0
5.7
41.7
–0.8
0.3
0.4
0.0
1.6

1.3
5.3
63.2
28.9
28.3
11.2
11.1
0.1
17.2
0.2
0.4
0.3
0.0
34.3

2.9
3.9
22.9
83.5
77.1
44.8
12.8
31.9
32.3
5.5
0.9
0.4
0.5
–60.6

0.6
5.1
46.5
21.5
16.4
–3.8
–18.8
15.1
20.1
4.7
0.5
0.5
0.0
25.0

3.0
11.5
36.7
28.8
24.4
–5.9
15.9
–21.7
30.3
3.9
0.4
0.4
0.0
7.9

5.7
10.4
38.6
28.6
27.2
–13.8
0.5
–14.4
41.0
–1.3
2.6
0.6
2.1
10.0

3.9
17.2
36.3
22.1
19.8
–3.1
1.6
–4.7
22.9
1.8
0.6
0.5
0.0
14.2

7.4
23.9
77.8
95.6
90.5
58.9
11.7
47.2
31.6
4.7
0.5
0.5
0.0
–17.9

9.3
27.8
10.3
68.1
62.9
4.4
2.9
1.6
58.4
1.5
3.6
0.6
3.0
–57.7

3.3
17.6
63.3
38.9
39.7
0.5
–4.9
5.4
39.3
–1.3
0.5
0.5
0.0
24.4

87.8

64.1

30.4

29.5

–9.6

32.4

0.3

–4.8

69.2

73.2

36.3

32.6

–16.7

31.2

77.0

52.0

31.2

26.9

6.3

42.9

–8.9

7.8

54.7

59.4

22.7

37.9

–16.9

28.3

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2007
March
Personal income..................................................................
Compensation of employees, received .........................
Wage and salary disbursements................................
Private industries.......................................................
Goods-producing industries ..................................
Manufacturing....................................................
Services-producing industries...............................
Trade, transportation, and utilities .....................
Other services-producing industries .................
Government...............................................................
Supplements to wages and salaries..........................
Employer contributions for employee pension and
insurance funds.....................................................
Employer contributions for government social
insurance...............................................................
Proprietors’ income with inventory valuation and
capital consumption adjustments .............................
Farm ..............................................................................
Nonfarm.........................................................................
Rental income of persons with capital consumption
adjustment ...................................................................
Personal income receipts on assets .............................
Personal interest income ...............................................
Personal dividend income .............................................
Personal current transfer receipts.................................
Government social benefits to persons .........................
Old-age, survivors, disability, and health insurance
benefits..................................................................
Government unemployment insurance benefits ........
Other .........................................................................
Other current transfer receipts, from business (net) ......
Less: Contributions for government social insurance,
domestic.......................................................................
Less: Personal current taxes..............................................
Equals: Disposable personal income................................
Less: Personal outlays........................................................
Personal consumption expenditures..................................
Goods............................................................................
Durable goods ...........................................................
Nondurable goods .....................................................
Services ........................................................................
Personal interest payments 1.............................................
Personal current transfer payments...................................
To government...............................................................
To the rest of the world (net)..........................................
Equals: Personal saving .....................................................
Addenda:
Personal income excluding current transfer receipts,
billions of chained (2005) dollars 2 ................................
Disposable personal income, billions of chained (2005)
dollars 2 .........................................................................

73.3
37.4
33.5
30.0
7.0
2.1
22.9
8.7
14.2
3.4
4.0

April

May

7.3
–10.6
–12.4
–16.1
0.0
–1.1
–16.1
1.9
–18.0
3.8
1.7

June

July

2008
August

September

October

November

December

January

February

31.3
4.6
1.9
–1.5
–1.5
–3.2
0.0
2.9
–2.9
3.4
2.7

37.6
23.4
19.5
15.3
4.1
2.3
11.2
4.2
7.0
4.2
4.0

32.4
6.2
3.5
3.5
–4.0
–3.4
7.5
–7.8
15.2
0.1
2.5

46.0
12.5
10.1
5.0
–2.6
–2.0
7.6
–2.2
9.8
5.0
2.5

71.1
54.8
49.5
44.5
8.3
3.9
36.3
7.3
29.1
4.9
5.3

44.8
28.0
23.4
19.7
3.7
1.6
15.9
4.9
11.0
3.8
4.6

52.0
51.3
44.7
41.0
13.4
8.4
27.6
5.2
22.4
3.8
6.5

37.3
20.6
15.5
11.2
–4.8
–4.3
15.9
4.7
11.3
4.2
5.2

–2.3
2.1
–3.1
–14.6
–8.1
–5.6
–6.4
–3.5
–2.9
11.5
5.2

–5.8
1.1
–1.0
–5.2
–4.6
–3.8
–0.6
–4.3
3.6
4.1
2.1

2.6

3.0

3.2

3.1

2.3

2.3

1.7

2.9

3.4

3.7

4.2

1.8

1.4

–1.2

–0.6

0.8

0.3

0.3

3.5

1.7

3.2

1.5

0.9

0.3

2.4
0.0
2.5

–1.8
–1.0
–0.9

1.5
–0.6
2.1

–2.4
–0.1
–2.3

0.1
0.2
–0.1

–1.4
1.5
–2.9

–2.7
2.6
–5.3

6.6
4.0
2.6

6.6
4.1
2.5

0.5
4.4
–3.9

12.9
4.7
8.1

–4.0
1.4
–5.4

5.0
27.0
23.7
3.3
4.5
3.5

9.8
14.7
12.8
1.9
–7.0
–7.9

7.0
12.4
12.1
0.4
5.2
4.4

5.1
11.2
12.2
–1.1
2.2
1.5

0.1
17.7
20.2
–2.5
9.3
8.7

3.2
15.1
19.1
–4.1
17.4
16.9

5.8
13.3
18.8
–5.4
6.9
6.5

7.7
–1.1
5.9
–7.0
7.3
7.0

5.9
–7.5
0.9
–8.4
2.3
2.2

3.9
–11.4
–1.5
–9.9
26.8
26.7

2.0
–24.1
–12.7
–11.3
11.6
11.5

4.3
–15.8
–5.4
–10.4
9.6
9.6

5.3
–2.9
1.1
1.1

2.1
2.8
–12.8
0.8

11.5
–0.6
–6.5
0.8

4.6
–2.0
–1.1
0.7

–2.6
4.1
7.3
0.6

15.7
–2.9
4.0
0.5

–0.8
2.9
4.4
0.4

–0.5
–0.7
8.2
0.3

–0.2
–0.2
2.6
0.2

19.1
2.9
4.6
0.0

5.8
–1.6
7.4
0.0

5.5
0.6
3.6
0.1

3.1
14.2
59.2
50.4
54.2
42.7
8.6
34.0
11.5
–4.3
0.5
0.5
0.0
8.8

–2.2
1.2
6.0
38.5
29.2
–10.7
–6.0
–4.7
39.9
8.6
0.6
0.5
0.1
–32.4

–0.7
4.7
26.6
40.8
31.6
30.2
13.3
16.9
1.4
8.8
0.5
0.5
0.0
–14.3

1.9
7.9
29.8
22.9
13.4
–18.4
–15.1
–3.2
31.8
8.9
0.5
0.5
0.0
6.9

0.9
5.8
26.4
37.4
34.7
15.7
–0.5
16.1
19.0
1.5
1.3
0.5
0.8
–11.0

0.9
4.4
41.7
52.2
50.0
2.3
14.0
–11.7
47.7
1.6
0.6
0.6
0.0
–10.5

7.1
9.9
61.2
48.8
46.6
40.0
9.9
30.2
6.5
1.8
0.5
0.5
0.0
12.4

3.6
3.5
41.3
39.2
40.7
18.2
6.2
11.9
22.6
–3.8
2.2
0.5
1.7
2.1

6.5
10.4
41.6
83.8
88.3
58.2
–0.4
58.5
30.1
–5.1
0.6
0.5
0.0
–42.2

3.1
8.1
29.2
13.2
19.1
–6.2
–17.7
11.6
25.2
–6.3
0.5
0.5
0.0
15.9

7.0
–3.5
1.1
11.2
18.2
–12.3
–5.8
–6.5
30.7
–10.2
3.1
0.5
2.7
–10.0

0.9
4.8
–10.5
–7.7
–2.2
–25.7
–9.2
–16.6
23.4
–6.0
0.5
0.5
0.0
–2.8

29.7

–5.6

–0.1

17.9

6.3

14.3

22.8

–3.4

–18.3

–17.5

–37.8

–32.5

19.6

–13.8

–0.3

12.3

9.1

26.4

19.1

–0.7

–27.3

–0.8

–24.2

–28.6

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2008
March
Personal income..................................................................
Compensation of employees, received .........................
Wage and salary disbursements................................
Private industries.......................................................
Goods-producing industries ..................................
Manufacturing....................................................
Services-producing industries...............................
Trade, transportation, and utilities .....................
Other services-producing industries .................
Government...............................................................
Supplements to wages and salaries..........................
Employer contributions for employee pension and
insurance funds.....................................................
Employer contributions for government social
insurance...............................................................
Proprietors’ income with inventory valuation and
capital consumption adjustments .............................
Farm ..............................................................................
Nonfarm.........................................................................
Rental income of persons with capital consumption
adjustment ...................................................................
Personal income receipts on assets .............................
Personal interest income ...............................................
Personal dividend income .............................................
Personal current transfer receipts.................................
Government social benefits to persons .........................
Old-age, survivors, disability, and health insurance
benefits..................................................................
Government unemployment insurance benefits ........
Other .........................................................................
Other current transfer receipts, from business (net) ......
Less: Contributions for government social insurance,
domestic.......................................................................
Less: Personal current taxes..............................................
Equals: Disposable personal income................................
Less: Personal outlays........................................................
Personal consumption expenditures..................................
Goods............................................................................
Durable goods ...........................................................
Nondurable goods .....................................................
Services ........................................................................
Personal interest payments 1.............................................
Personal current transfer payments...................................
To government...............................................................
To the rest of the world (net)..........................................
Equals: Personal saving .....................................................
Addenda:
Personal income excluding current transfer receipts,
billions of chained (2005) dollars 2 ................................
Disposable personal income, billions of chained (2005)
dollars 2 .........................................................................

17.6
13.5
12.8
9.4
5.0
2.2
4.4
–0.3
4.7
3.4
0.7

April

May

June

July

2009

August September October November December January February March
–38.4
3.8
1.2
–0.9
1.5
2.9
–2.4
–1.6
–0.8
2.1
2.6

–32.6
–13.4
–16.1
–17.8
–5.3
–2.7
–12.5
–3.1
–9.4
1.7
2.6

–39.0
–37.0
–36.2
–37.1
–21.0
–14.4
–16.1
–7.4
–8.7
0.9
–0.7

–128.6
–124.1
–120.0
–133.0
–37.5
–27.4
–95.5
–19.6
–75.9
13.0
–4.1

–101.8
–65.4
–62.0
–64.5
–18.7
–8.4
–45.8
–8.5
–37.3
2.5
–3.4

–55.0
–43.2
–41.3
–44.6
–14.1
–7.5
–30.4
–10.0
–20.4
3.3
–1.9

28.4
–19.4
–19.4
–25.2
–12.3
–5.1
–13.0
–2.6
–10.5
5.8
0.0

May

June p

155.1
–6.0
–6.9
–11.3
–10.9
–8.4
–0.4
1.1
–1.4
4.3
1.0

–159.8
–26.0
–25.8
–28.6
–11.1
–6.7
–17.5
–7.8
–9.6
2.8
–0.3

10.6
–5.7
–10.1
–13.2
–7.5
–4.4
–5.7
–2.2
–3.5
3.2
4.4

199.3
14.3
10.8
6.8
–0.7
–0.7
7.5
–1.6
9.1
4.0
3.5

–7.7
6.1
2.8
–2.2
–1.0
–0.3
–1.2
0.7
–1.9
5.0
3.3

–99.4
15.4
13.1
9.0
–1.3
–0.8
10.3
–2.4
12.7
4.1
2.3

43.6
25.4
22.2
18.5
0.5
–3.1
18.0
1.7
16.3
3.7
3.1

–0.6

4.9

2.5

2.8

1.3

1.1

0.9

2.9

3.2

1.4

1.5

1.1

1.1

1.4

1.4

1.6

1.3

–0.5

0.9

0.7

0.9

2.0

–0.5

–0.3

–0.5

–2.2

–5.5

–4.6

–2.9

–1.5

–0.4

–1.9

1.1
–1.8
3.1

–4.3
–5.2
0.8

1.0
–2.8
3.8

2.8
–0.2
3.0

4.6
2.1
2.5

–3.4
–0.3
–3.2

–5.9
–2.8
–3.0

–10.8
–5.3
–5.5

–16.3
–3.5
–12.8

–12.4
–1.8
–10.6

–19.7
–5.7
–14.0

–14.0
–4.9
–9.1

–9.1
–1.1
–8.0

–2.1
2.1
–4.2

–1.9
0.6
–2.5

–1.0
–0.9
–0.2

7.2
–12.9
–3.5
–9.5
11.4
11.4

8.9
–3.0
5.5
–8.5
14.4
14.4

8.0
–6.6
0.9
–7.5
184.8
184.8

7.5
–6.6
0.1
–6.7
–16.4
–16.4

5.9
5.6
11.2
–5.6
–128.6
–128.6

5.8
5.2
9.9
–4.8
14.6
14.6

5.9
5.0
8.9
–3.7
16.5
16.4

6.1
–31.5
–28.7
–2.9
–5.8
–5.8

2.8
–18.5
–16.7
–1.9
11.4
11.4

1.9
–13.7
–12.7
–0.9
18.0
17.9

3.3
–48.8
–17.9
–30.9
52.2
52.5

3.7
–48.5
–17.6
–30.9
13.7
13.7

3.8
–48.4
–17.6
–30.9
36.5
36.4

2.5
–7.3
10.9
–18.1
52.2
52.2

3.2
–7.3
10.8
–18.2
166.1
166.1

2.8
–7.3
10.9
–18.1
–131.7
–131.8

11.6
3.3
–3.6
0.0

–2.4
–0.7
17.6
0.0

10.1
–0.5
175.1
0.0

4.4
4.8
–25.6
0.0

10.5
2.4
–141.5
0.0

–2.4
16.3
0.7
0.0

2.5
8.3
5.7
0.1

0.7
–9.8
3.2
0.0

6.6
9.1
–4.3
0.0

1.5
15.9
0.5
0.1

30.2
3.9
18.4
–0.3

8.7
4.6
0.4
0.0

6.9
15.9
13.6
0.1

12.4
5.5
34.2
0.0

–2.7
7.1
161.7
0.1

13.5
9.0
–154.2
0.0

2.8
4.0
13.6
49.0
50.8
37.4
–9.4
46.8
13.5
–2.3
0.5
0.4
0.0
–35.4

–0.5
–18.0
28.6
41.5
32.0
–3.4
–3.4
0.0
35.4
6.0
3.5
0.5
3.1
–12.9

2.2
–392.4
591.7
26.6
23.5
7.6
–3.7
11.5
15.8
2.8
0.4
0.4
0.0
565.1

1.2
209.5
–217.3
56.3
56.5
28.9
–12.0
40.8
27.7
–0.7
0.4
0.4
0.0
–273.6

2.3
12.8
–112.0
–13.0
–8.8
–23.0
–27.4
4.4
14.1
–5.1
0.9
0.4
0.5
–99.0

3.9
141.5
–98.0
–1.0
0.7
13.8
15.3
–1.5
–13.2
–2.0
0.3
0.3
0.0
–97.0

–1.2
–14.7
22.9
–34.1
–35.4
–59.8
–35.0
–24.8
24.5
0.9
0.4
0.4
0.0
57.0

0.2
–19.7
–18.7
–85.8
–78.0
–89.0
–41.0
–48.1
11.1
–3.3
–4.6
0.3
–4.9
67.1

–1.3
–23.4
–9.3
–110.2
–105.0
–108.9
–4.3
–104.5
3.8
–5.5
0.3
0.3
0.0
101.0

–4.3
–15.3
–23.7
–123.9
–116.7
–115.7
–19.4
–96.3
–1.0
–7.5
0.3
0.3
0.0
100.2

–8.6
–194.9
66.5
77.2
75.7
68.9
25.7
43.2
6.8
–0.7
2.3
0.3
2.0
–10.9

–8.5
–26.6
–75.3
38.2
38.6
36.7
–1.0
37.7
1.9
–0.8
0.3
0.3
0.0
–113.4

–5.5
–33.1
–21.9
–32.9
–32.4
–29.4
–15.9
–13.5
–3.0
–0.7
0.4
0.3
0.0
11.0

–2.7
–67.8
96.2
–19.6
–9.7
–23.9
–13.4
–10.5
14.2
–9.4
–0.7
0.3
–0.9
115.9

–0.8
–13.6
168.7
–0.1
9.0
12.0
10.7
1.3
–3.0
–9.3
0.4
0.4
0.0
168.7

–3.5
–16.0
–143.8
32.4
41.4
34.1
–1.8
35.9
7.3
–9.4
0.3
0.3
0.0
–176.2

–25.4

–24.5

–22.2

–54.1

–22.3

22.8

–18.9

14.6

67.0

–4.5

–184.1

–133.9

–75.4

–28.6

–15.3

–74.9

–19.3

4.8

506.8

–265.4

–153.7

–92.5

8.9

29.1

103.4

28.4

43.4

–98.9

–10.4

81.2

149.8

–186.7

p Preliminary
1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

8.2
–14.6
–14.9
–17.3
–7.7
–5.1
–9.6
–4.4
–5.2
2.4
0.4

April

Table 4. Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2006

2007

2008

2006
I

Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income, billions of chained (2005) dollars 2 .....................

II

III

IV

782.2
415.7
367.9
324.2
72.6
28.3
251.7
51.4
200.3
43.7
47.8
28.5
19.2

626.0
387.0
340.0
286.1
36.9
14.8
249.1
48.7
200.4
53.9
46.9
32.9
14.1

344.7
179.7
137.0
84.8
–6.4
–11.5
91.2
3.6
87.6
52.2
42.8
30.9
11.9

285.9
186.6
169.2
151.6
52.4
24.5
99.1
24.8
74.3
17.6
17.4
6.1
11.3

177.3
46.2
39.7
30.4
–1.4
–3.4
31.9
6.9
25.0
9.3
6.5
6.1
0.4

132.9
64.2
56.8
44.2
–0.3
–1.3
44.5
8.4
36.1
12.7
7.4
5.9
1.4

167.9
141.2
127.2
115.9
22.7
12.4
93.2
16.5
76.7
11.3
13.9
7.7
6.3

63.2
–14.6
77.7
–31.7
287.7
140.5
147.2
96.4
100.9
98.6
–1.4
3.6
–4.4
49.1
143.8
638.4
531.1
503.7
147.8
27.5
120.3
355.8
19.3
8.2
5.0
3.2
107.3

–36.6
10.1
–46.7
–1.6
201.8
138.9
62.9
113.0
104.2
60.4
2.4
41.3
8.8
37.5
138.5
487.4
543.6
503.7
143.3
27.5
115.8
360.5
26.7
13.0
5.9
7.1
–56.1

9.9
9.3
0.6
65.5
–37.1
41.6
–78.7
157.9
155.4
66.6
18.3
70.7
2.4
31.3
–58.5
403.3
295.7
303.5
38.2
–65.3
103.5
265.4
–19.1
11.3
5.6
5.8
107.5

31.1
–11.5
42.6
–11.0
70.3
20.7
49.6
39.2
43.3
58.1
–2.1
–12.7
–4.1
30.4
67.7
218.1
148.3
137.9
54.2
40.2
14.1
83.7
10.3
0.2
2.0
–1.9
69.9

6.3
0.0
6.3
–8.1
106.1
61.5
44.6
28.9
30.7
24.1
–0.2
6.8
–1.9
2.0
18.7
158.6
124.7
118.4
25.7
–7.4
33.1
92.7
–0.2
6.4
1.1
5.4
33.9

–2.0
0.0
–2.0
–12.9
64.1
28.1
36.0
22.8
22.1
9.1
1.0
12.0
0.8
3.4
14.1
118.7
136.7
125.2
44.0
7.3
36.7
81.2
9.8
1.8
1.2
0.5
–17.9

9.4
3.8
5.6
–9.1
27.7
0.4
27.4
11.7
9.0
12.7
–0.1
–3.5
2.7
13.0
39.2
128.7
101.5
92.3
–1.4
9.8
–11.2
93.7
5.7
3.6
1.5
2.1
27.1

427.5
373.4

240.6
209.9

–140.8
50.7

204.2
175.1

75.5
83.5

38.6
45.2

152.8
126.3

1. Consists of nonmortgage interest paid by households.
2. 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)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2007
I
Personal income..................................................................................................
Compensation of employees, received .........................................................
Wage and salary disbursements................................................................
Private industries.......................................................................................
Goods-producing industries ..................................................................
Manufacturing....................................................................................
Services-producing industries...............................................................
Trade, transportation, and utilities .....................................................
Other services-producing industries .................................................
Government...............................................................................................
Supplements to wages and salaries..........................................................
Employer contributions for employee pension and insurance funds..........
Employer contributions for government social insurance ..........................
Proprietors’ income with inventory valuation and capital consumption
adjustments .................................................................................................
Farm ..............................................................................................................
Nonfarm.........................................................................................................
Rental income of persons with capital consumption adjustment ..............
Personal income receipts on assets .............................................................
Personal interest income ...............................................................................
Personal dividend income .............................................................................
Personal current transfer receipts.................................................................
Government social benefits to persons .........................................................
Old-age, survivors, disability, and health insurance benefits .....................
Government unemployment insurance benefits ........................................
Other .........................................................................................................
Other current transfer receipts, from business (net) ......................................
Less: Contributions for government social insurance, domestic ..............
Less: Personal current taxes..............................................................................
Equals: Disposable personal income................................................................
Less: Personal outlays........................................................................................
Personal consumption expenditures..................................................................
Goods............................................................................................................
Durable goods ...........................................................................................
Nondurable goods .....................................................................................
Services ........................................................................................................
Personal interest payments 1.............................................................................
Personal current transfer payments...................................................................
To government...............................................................................................
To the rest of the world (net)..........................................................................
Equals: Personal saving .....................................................................................
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2 .........................................................................................................
Disposable personal income, billions of chained (2005) dollars 2 .....................

II

2008
III

IV

I

II

2009
III

IV

I

II

202.1
156.9
141.0
119.9
13.8
7.4
106.2
18.6
87.6
20.9
16.0
10.1
5.9

116.5
37.5
28.6
17.7
4.1
–1.1
13.6
13.1
0.5
11.0
8.9
8.9
0.1

122.2
49.9
40.3
31.4
–0.8
–2.9
32.1
–3.1
35.1
9.0
9.6
7.5
2.0

154.7
109.7
94.8
82.0
15.7
7.7
66.3
14.0
52.4
12.6
15.0
8.3
6.7

41.9
38.2
25.7
6.3
–8.2
–7.5
14.5
–1.6
16.1
19.5
12.4
8.8
3.6

150.7
15.3
6.2
–4.9
–6.5
–4.8
1.6
–4.6
6.2
11.1
9.0
7.7
1.3

–6.3
36.3
28.5
16.4
–4.4
–5.0
20.8
–2.9
23.7
12.1
7.9
5.0
2.9

–53.1
–18.8
–24.2
–30.6
–14.0
–8.1
–16.5
–8.4
–8.1
6.4
5.4
6.5
–1.1

–251.7
–211.2
–204.6
–221.5
–70.5
–46.0
–151.1
–34.6
–116.5
16.9
–6.6
4.6
–11.2

8.0
–82.7
–80.8
–93.4
–38.8
–20.7
–54.6
–14.0
–40.6
12.6
–1.8
3.9
–5.8

–46.4
4.5
–50.9
–10.1
59.2
41.1
18.0
61.4
57.6
17.6
1.1
38.9
3.8
18.7
66.0
136.2
181.9
174.4
57.2
10.8
46.4
117.2
2.9
4.6
1.6
3.0
–45.7

1.8
–1.0
2.8
19.2
53.8
48.2
5.6
5.3
2.6
17.2
–0.2
–14.5
2.7
1.2
22.3
94.3
119.9
104.0
31.9
1.9
30.0
72.1
14.1
1.6
1.5
0.1
–25.6

–2.8
1.8
–4.6
9.9
43.8
51.4
–7.6
26.4
24.6
14.5
1.6
8.5
1.8
4.9
18.9
103.3
117.4
103.1
28.4
6.5
21.9
74.7
12.0
2.4
1.6
0.8
–14.1

8.9
10.4
–1.5
17.8
4.0
24.9
–20.9
28.2
27.3
10.4
1.1
15.8
0.8
14.0
21.2
133.4
149.4
153.6
82.3
11.3
71.0
71.3
–7.5
3.2
1.5
1.7
–15.9

13.1
9.3
3.7
11.9
–49.0
–18.2
–30.8
40.4
40.3
26.0
1.8
12.5
0.2
12.7
9.9
32.0
59.1
75.9
–1.7
–26.9
25.2
77.6
–20.9
4.2
1.5
2.7
–27.2

–3.3
–7.8
4.6
22.9
–23.5
2.0
–25.5
142.9
142.9
15.4
3.0
124.6
0.0
3.6
–205.6
356.3
108.1
99.6
27.7
–19.3
47.0
71.9
4.1
4.4
1.3
3.1
248.1

2.5
–0.1
2.6
19.4
4.1
21.2
–17.0
–62.7
–62.7
16.0
19.0
–97.8
0.0
6.0
111.1
–117.4
21.4
25.4
–11.9
–38.0
26.1
37.3
–5.6
1.6
1.1
0.5
–138.7

–30.8
–10.3
–20.6
14.5
–43.3
–34.9
–8.5
23.7
23.6
6.5
12.6
4.5
0.1
–1.6
–3.0
–50.2
–223.7
–210.3
–235.5
–68.6
–166.9
25.2
–9.5
–3.9
1.0
–4.9
173.5

–45.8
–11.7
–34.0
9.2
–112.6
–49.5
–63.1
89.3
89.4
41.5
25.9
22.1
–0.2
–19.4
–241.7
–9.9
–27.6
–22.1
–29.8
5.3
–35.2
7.7
–8.4
2.9
0.9
2.0
17.7

–14.4
–0.1
–14.3
9.3
–63.0
4.1
–67.2
147.9
147.9
22.6
25.4
99.8
0.2
–10.9
–113.1
121.1
–18.1
1.3
–11.9
–17.8
5.9
13.2
–19.4
0.1
1.0
–0.9
139.1

47.9
41.4

30.5
12.5

35.2
41.2

–1.5
2.3

–85.7
–59.4

–85.1
232.2

–56.8
–220.7

52.4
82.1

–278.9
27.9

–158.6
78.9

1. Consists of nonmortgage interest paid by households.
2. 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)—Continues
Seasonally adjusted at monthly rates
2006
January

February

March

April

May

June

2007
July

August

September October

November December

January

February

Based on current-dollar measures
Personal income..............................................................
Compensation of employees, received..........................
Wage and salary disbursements ...............................
Supplements to wages and salaries..........................
Proprietors’ income with inventory valuation and capital
consumption adjustments..........................................
Rental income of persons with capital consumption
adjustment.................................................................
Personal income receipts on assets..............................
Personal interest income ...........................................
Personal dividend income .........................................
Personal current transfer receipts..................................
Less: Contributions for government social insurance,
domestic ....................................................................
Less: Personal current taxes..........................................
Equals: Disposable personal income............................
Addenda:
Personal consumption expenditures..............................
Goods........................................................................
Durable goods .......................................................
Nondurable goods .................................................
Services ....................................................................

1.5
1.7
1.9
0.9

0.6
0.8
0.9
0.3

0.5
0.3
0.4
0.2

0.7
0.3
0.3
0.2

0.3
–0.4
–0.5
–0.1

0.6
0.3
0.3
0.2

0.2
0.4
0.5
0.2

0.5
0.2
0.3
0.2

0.4
0.6
0.7
0.3

0.4
0.7
0.7
0.3

0.5
0.6
0.7
0.3

0.9
0.9
1.0
0.4

0.3
0.7
0.8
0.4

0.7
0.5
0.5
0.3

2.2

0.2

0.4

0.1

0.2

–0.1

–0.3

0.3

–0.2

0.5

0.3

0.7

–5.0

0.5

–3.9
1.0
–0.1
2.9
2.3

–3.2
1.2
0.3
2.7
0.1

–1.3
1.2
0.4
2.5
0.6

–0.6
2.7
3.0
2.3
0.4

–2.0
2.2
2.3
2.1
1.0

–3.8
2.0
2.1
1.9
1.0

–3.3
0.6
0.0
1.7
–0.3

–2.5
0.8
0.3
1.5
1.2

–1.3
0.8
0.4
1.4
–0.2

–2.2
0.4
–0.1
1.2
–0.3

–2.3
0.3
–0.2
1.1
0.2

–3.8
0.3
–0.2
1.0
1.9

–5.4
1.4
1.8
0.8
1.7

–0.7
1.4
1.9
0.6
0.9

2.6
3.6
1.3

0.8
1.0
0.6

0.2
0.6
0.5

0.2
0.6
0.7

–0.6
–0.1
0.3

0.1
0.4
0.6

0.3
0.3
0.2

0.1
0.4
0.5

0.3
0.9
0.4

0.6
0.8
0.4

0.4
1.3
0.4

0.8
1.7
0.8

1.0
2.0
0.1

0.4
1.2
0.6

0.9
2.1
2.7
1.8
0.2

0.3
–0.5
–1.5
0.1
0.8

0.4
0.0
0.7
–0.3
0.6

0.6
1.1
0.1
1.6
0.3

0.3
–0.4
–1.5
0.3
0.7

0.3
0.3
1.0
0.0
0.3

0.8
1.4
1.1
1.5
0.5

0.2
–0.1
–1.7
0.7
0.3

0.3
–0.2
1.4
–1.0
0.5

0.3
–0.4
0.0
–0.7
0.7

0.2
–0.1
0.1
–0.2
0.4

1.0
1.8
1.0
2.3
0.5

0.7
0.1
0.2
0.1
0.9

0.4
0.0
–0.4
0.3
0.6

0.8
0.6

0.4
0.2

0.3
0.4

–0.2
–0.2

0.3
0.3

Based on chained (2005) dollar measures
Real personal income excluding current transfer
receipts......................................................................
Real disposable personal income..................................

1.0
0.8

0.7
0.5

0.3
0.3

0.3
0.3

–0.1
0.1

0.3
0.4

0.0
–0.1

–0.1
0.1

0.7
0.6

Seasonally adjusted at monthly rates
2007
March

April

May

June

July

2008
August

September October

November December

January

February

March

April

Based on current-dollar measures
Personal income..............................................................
Compensation of employees, received..........................
Wage and salary disbursements ...............................
Supplements to wages and salaries..........................
Proprietors’ income with inventory valuation and capital
consumption adjustments..........................................
Rental income of persons with capital consumption
adjustment.................................................................
Personal income receipts on assets..............................
Personal interest income ...........................................
Personal dividend income .........................................
Personal current transfer receipts..................................
Less: Contributions for government social insurance,
domestic ....................................................................
Less: Personal current taxes..........................................
Equals: Disposable personal income............................
Addenda:
Personal consumption expenditures..............................
Goods........................................................................
Durable goods .......................................................
Nondurable goods .................................................
Services ....................................................................

0.6
0.5
0.5
0.3

0.1
–0.1
–0.2
0.1

0.3
0.1
0.0
0.2

0.3
0.3
0.3
0.3

0.3
0.1
0.1
0.2

0.4
0.2
0.2
0.2

0.6
0.7
0.8
0.4

0.4
0.4
0.4
0.3

0.4
0.6
0.7
0.4

0.3
0.3
0.2
0.4

0.0
0.0
0.0
0.4

0.0
0.0
0.0
0.1

0.1
0.2
0.2
0.0

0.1
–0.1
–0.2
0.3

0.2

–0.2

0.1

–0.2

0.0

–0.1

–0.2

0.6

0.6

0.1

1.2

–0.4

0.1

–0.4

4.2
1.4
2.0
0.4
0.3

7.9
0.7
1.0
0.2
–0.4

5.2
0.6
1.0
0.0
0.3

3.6
0.6
1.0
–0.1
0.1

0.1
0.9
1.6
–0.3
0.5

2.2
0.7
1.5
–0.5
1.0

3.9
0.6
1.4
–0.7
0.4

5.0
–0.1
0.4
–0.9
0.4

3.6
–0.4
0.1
–1.1
0.1

2.3
–0.6
–0.1
–1.3
1.5

1.2
–1.2
–1.0
–1.5
0.7

2.5
–0.8
–0.4
–1.4
0.5

4.0
–0.6
–0.3
–1.3
0.6

4.8
–0.2
0.4
–1.2
0.8

0.3
1.0
0.6

–0.2
0.1
0.1

–0.1
0.3
0.3

0.2
0.5
0.3

0.1
0.4
0.3

0.1
0.3
0.4

0.7
0.7
0.6

0.4
0.2
0.4

0.7
0.7
0.4

0.3
0.5
0.3

0.7
–0.2
0.0

0.1
0.3
–0.1

0.3
0.3
0.1

–0.1
–1.2
0.3

0.6
1.3
0.7
1.6
0.2

0.3
–0.3
–0.5
–0.2
0.6

0.3
0.9
1.2
0.8
0.0

0.1
–0.5
–1.3
–0.1
0.5

0.4
0.5
0.0
0.7
0.3

0.5
0.1
1.2
–0.5
0.7

0.5
1.2
0.9
1.4
0.1

0.4
0.5
0.5
0.5
0.3

0.9
1.7
0.0
2.6
0.5

0.2
–0.2
–1.5
0.5
0.4

0.2
–0.4
–0.5
–0.3
0.5

0.0
–0.7
–0.8
–0.7
0.4

0.5
1.1
–0.8
2.1
0.2

0.3
–0.1
–0.3
0.0
0.5

–0.2
0.0

–0.4
–0.2

–0.3
–0.3

–0.3
–0.2

–0.3
0.0

Based on chained (2005) dollar measures
Real personal income excluding current transfer
receipts......................................................................
Real disposable personal income..................................
p Preliminary

0.3
0.2

–0.1
–0.1

0.0
0.0

0.2
0.1

0.1
0.1

0.1
0.3

0.2
0.2

0.0
0.0

–0.2
–0.3

Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)—Table Ends
Seasonally adjusted at monthly rates
2008
May

June

July

August

2009

September October

November December

January

February

March

April

June p

May

Based on current-dollar measures
Personal income..............................................................
Compensation of employees, received..........................
Wage and salary disbursements ...............................
Supplements to wages and salaries..........................
Proprietors’ income with inventory valuation and capital
consumption adjustments..........................................
Rental income of persons with capital consumption
adjustment.................................................................
Personal income receipts on assets..............................
Personal interest income ...........................................
Personal dividend income .........................................
Personal current transfer receipts..................................
Less: Contributions for government social insurance,
domestic ....................................................................
Less: Personal current taxes..........................................
Equals: Disposable personal income............................
Addenda:
Personal consumption expenditures..............................
Goods........................................................................
Durable goods .......................................................
Nondurable goods .................................................
Services ....................................................................

1.6
0.2
0.2
0.2

–0.1
0.1
0.0
0.2

–0.8
0.2
0.2
0.2

0.4
0.3
0.3
0.2

0.1
–0.2
–0.2
0.0

–0.3
0.0
0.0
0.2

–0.3
–0.2
–0.2
0.2

–0.3
–0.5
–0.6
0.0

–1.1
–1.5
–1.8
–0.3

–0.8
–0.8
–1.0
–0.2

–0.5
–0.6
–0.7
–0.1

0.2
–0.3
–0.3
0.0

1.3
–0.1
–0.1
0.1

–1.3
–0.3
–0.4
0.0

0.1

0.2

0.4

–0.3

–0.5

–1.0

–1.5

–1.1

–1.8

–1.3

–0.9

–0.2

–0.2

–0.1

4.1
–0.3
0.1
–1.1
10.2

3.7
–0.3
0.0
–1.0
–0.8

2.8
0.3
0.9
–0.8
–6.5

2.7
0.3
0.8
–0.7
0.8

2.7
0.3
0.7
–0.6
0.9

2.7
–1.6
–2.1
–0.4
–0.3

1.2
–0.9
–1.3
–0.3
0.6

0.8
–0.7
–1.0
–0.1
0.9

1.4
–2.5
–1.4
–4.7
2.7

1.5
–2.6
–1.4
–4.9
0.7

1.5
–2.6
–1.4
–5.1
1.8

1.0
–0.4
0.9
–3.2
2.6

1.3
–0.4
0.9
–3.3
8.0

1.1
–0.4
0.9
–3.4
–5.9

0.2
–25.9
5.6

0.1
18.6
–1.9

0.2
1.0
–1.0

0.4
10.5
–0.9

–0.1
–1.0
0.2

0.0
–1.3
–0.2

–0.1
–1.6
–0.1

–0.4
–1.1
–0.2

–0.9
–13.8
0.6

–0.9
–2.2
–0.7

–0.6
–2.8
–0.2

–0.3
–5.8
0.9

–0.1
–1.2
1.6

–0.4
–1.5
–1.3

0.2
0.2
–0.3
0.5
0.2

0.6
0.8
–1.1
1.7
0.4

–0.1
–0.7
–2.4
0.2
0.2

0.0
0.4
1.4
–0.1
–0.2

–0.3
–1.7
–3.2
–1.0
0.4

–0.8
–2.6
–3.8
–2.0
0.2

–1.0
–3.3
–0.4
–4.5
0.1

–1.2
–3.6
–1.9
–4.4
0.0

0.8
2.2
2.6
2.0
0.1

0.4
1.2
–0.1
1.7
0.0

–0.3
–0.9
–1.5
–0.6
0.0

–0.1
–0.7
–1.3
–0.5
0.2

0.1
0.4
1.1
0.1
0.0

0.4
1.1
–0.2
1.7
0.1

–1.4
–1.0

–0.8
–0.1

–0.3
0.8

–0.2
1.5

–0.8
–1.8

Based on chained (2005) dollar measures
Real personal income excluding current transfer
receipts......................................................................
Real disposable personal income..................................
p Preliminary

–0.2
5.2

–0.6
–2.6

–0.2
–1.5

0.2
–0.9

–0.2
0.1

0.2
0.3

0.7
1.1

0.0
0.3

–1.9
0.4

Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters)
Seasonally adjusted at annual rates
2006

2007

2008

2006
I

II

2007
III

IV

I

II

Based on current-dollar measures
Personal income...........................................................................................................
Compensation of employees, received ......................................................................
Wage and salary disbursements ............................................................................
Supplements to wages and salaries ......................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments
Rental income of persons with capital consumption adjustment................................
Personal income receipts on assets...........................................................................
Personal interest income........................................................................................
Personal dividend income ......................................................................................
Personal current transfer receipts ..............................................................................
Less: Contributions for government social insurance, domestic ................................
Less: Personal current taxes ......................................................................................
Equals: Disposable personal income.........................................................................
Addenda:
Personal consumption expenditures ..........................................................................
Goods.....................................................................................................................
Durable goods....................................................................................................
Nondurable goods..............................................................................................
Services .................................................................................................................

7.5
5.9
6.5
3.5
5.9
–17.8
18.7
14.2
26.5
6.4
5.6
11.9
6.9

5.6
5.2
5.6
3.3
–3.2
–1.1
11.0
12.3
9.0
7.0
4.1
10.2
4.9

2.9
2.3
2.1
2.9
0.9
45.2
–1.8
3.3
–10.3
9.2
3.3
–3.9
3.9

11.1
10.8
12.2
5.2
11.9
–23.2
18.3
8.2
37.8
10.6
14.4
23.4
9.5

6.6
2.5
2.7
1.9
2.3
–18.7
27.2
25.1
30.7
7.6
0.9
5.8
6.7

4.8
3.5
3.8
2.1
–0.7
–29.5
14.9
10.3
22.6
5.8
1.5
4.3
4.9

6.1
7.8
8.6
4.0
3.4
–23.5
6.0
0.1
16.0
2.9
5.8
12.1
5.3

7.2
8.5
9.4
4.6
–15.3
–27.5
13.0
15.0
10.0
15.9
8.3
20.3
5.5

4.0
1.9
1.8
2.5
0.7
80.0
11.4
17.1
2.9
1.3
0.5
6.3
3.7

5.7
4.8
2.5
6.1
6.2

5.4
4.4
2.4
5.5
5.9

3.1
1.1
–5.6
4.7
4.1

6.3
7.1
15.5
2.8
5.8

5.3
3.3
–2.6
6.6
6.4

5.5
5.6
2.6
7.2
5.5

4.0
–0.2
3.5
–2.1
6.2

7.6
7.2
3.8
9.1
7.7

4.4
3.9
0.7
5.7
4.6

Real personal income excluding current transfer receipts..........................................
Real disposable personal income ..............................................................................

4.8
4.0

2.6
2.2

–1.5
0.5

1.6
5.3

0.5
1.7

0.3
0.5

Based on chained (2005) dollar measures
2.2
7.7

0.8
3.6

0.4
1.9

Seasonally adjusted at annual rates
2007
III

2008
IV

I

II

2009
III

IV

I

II

Based on current-dollar measures
Personal income...........................................................................................................
Compensation of employees, received ......................................................................
Wage and salary disbursements ............................................................................
Supplements to wages and salaries ......................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments
Rental income of persons with capital consumption adjustment................................
Personal income receipts on assets...........................................................................
Personal interest income........................................................................................
Personal dividend income ......................................................................................
Personal current transfer receipts ..............................................................................
Less: Contributions for government social insurance, domestic ................................
Less: Personal current taxes ......................................................................................
Equals: Disposable personal income.........................................................................
Addenda:
Personal consumption expenditures ..........................................................................
Goods.....................................................................................................................
Durable goods....................................................................................................
Nondurable goods..............................................................................................
Services .................................................................................................................

4.2
2.6
2.6
2.7
–1.0
31.3
8.9
17.5
–3.9
6.4
2.1
5.2
4.1

5.3
5.7
6.0
4.2
3.3
56.8
0.8
7.9
–10.4
6.7
6.0
5.8
5.2

1.4
1.9
1.6
3.4
4.9
31.3
–9.1
–5.4
–15.5
9.5
5.4
2.6
1.2

5.1
0.8
0.4
2.4
–1.2
61.7
–4.6
0.6
–13.5
35.9
1.4
–43.8
14.1

–0.2
1.8
1.8
2.1
0.9
44.0
0.8
6.6
–9.5
–12.3
2.4
38.0
–4.2

–1.7
–0.9
–1.5
1.4
–10.6
28.8
–8.4
–10.1
–5.0
5.1
–0.6
–0.8
–1.8

–8.0
–10.1
–11.9
–1.7
–15.9
16.4
–21.1
–14.5
–32.8
20.2
–7.6
–52.2
–0.4

0.3
–4.2
–5.0
–0.5
–5.4
16.1
–13.0
1.3
–37.7
33.3
–4.4
–32.9
4.6

4.3
3.4
2.3
4.1
4.7

6.4
10.2
4.0
13.5
4.5

3.1
–0.2
–8.9
4.5
4.8

4.0
3.3
–6.6
8.4
4.4

1.0
–1.4
–12.8
4.5
2.2

–8.0
–24.5
–22.9
–25.3
1.5

–0.9
–3.7
2.1
–6.2
0.5

0.1
–1.5
–6.8
1.1
0.8

Real personal income excluding current transfer receipts..........................................
Real disposable personal income ..............................................................................

0.4
1.7

0.0
0.1

0.6
3.4

–2.9
1.1

–1.7
3.2

Based on chained (2005) dollar measures
–0.9
–2.4

–0.9
9.8

–0.6
–8.5

Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)
2006
January

February

March

April

May

June

9,027.2
3,158.1
1,144.5
2,013.8
5,869.2

9,033.9
3,142.1
1,129.1
2,012.8
5,891.7

2007
July

August

September

October

November

December

January

February

9,166.7
3,209.1
1,164.3
2,044.9
5,957.7

9,219.1
3,248.5
1,179.3
2,069.3
5,971.4

9,254.4
3,254.4
1,184.4
2,070.3
6,000.6

9,261.9
3,243.7
1,178.4
2,065.4
6,018.3

52.4
39.4
15.0
24.4
13.7

35.3
5.9
5.1
1.0
29.2

7.5
–10.7
–6.0
–4.9
17.7

0.6
1.2
1.3
1.2
0.2

0.4
0.2
0.4
0.0
0.5

0.1
–0.3
–0.5
–0.2
0.3

Billions of chained (2005) dollars, seasonally adjusted at annual rates
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

8,961.4
3,149.9
1,149.5
2,000.8
5,811.8

8,987.5
3,143.1
1,133.6
2,009.5
5,844.5

9,010.9
3,144.1
1,143.7
2,000.8
5,866.8

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

36.0
43.3
31.0
12.7
–6.9

26.1
–6.8
–15.9
8.7
32.7

23.4
1.0
10.1
–8.7
22.3

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

0.4
1.4
2.8
0.6
–0.1

0.3
–0.2
–1.4
0.4
0.6

0.3
0.0
0.9
–0.4
0.4

9,044.0
3,152.3
1,144.6
2,008.1
5,891.6

9,089.6
3,180.2
1,158.1
2,022.7
5,909.4

9,070.4
3,158.8
1,138.0
2,020.5
5,911.5

9,112.1
3,190.2
1,160.2
2,030.4
5,922.0

9,159.1
3,210.1
1,160.2
2,049.9
5,949.2

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
16.3
14.0
0.8
13.0
2.4

6.7
–16.0
–15.4
–1.0
22.5

10.1
10.2
15.5
–4.7
–0.1

45.6
27.9
13.5
14.6
17.8

–19.2
–21.4
–20.1
–2.2
2.1

41.7
31.4
22.2
9.9
10.5

47.0
19.9
0.0
19.5
27.2

7.6
–1.0
4.1
–5.0
8.5

Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates
0.2
0.4
0.1
0.7
0.0

0.1
–0.5
–1.3
–0.1
0.4

0.1
0.3
1.4
–0.2
0.0

0.5
0.9
1.2
0.7
0.3

–0.2
–0.7
–1.7
–0.1
0.0

0.5
1.0
2.0
0.5
0.2

0.5
0.6
0.0
1.0
0.5

November

December

0.1
0.0
0.4
–0.2
0.1

2007
March

April

May

June

July

2008
August

September

October

January

February

March

April

Billions of chained (2005) dollars, seasonally adjusted at annual rates
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

9,279.0
3,263.5
1,188.3
2,075.4
6,016.1

9,288.3
3,248.2
1,184.8
2,063.8
6,040.1

9,294.3
3,266.7
1,200.3
2,067.4
6,028.1

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

17.1
19.8
9.9
10.0
–2.2

9.3
–15.3
–3.5
–11.6
24.0

6.0
18.5
15.5
3.6
–12.0

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

0.2
0.6
0.8
0.5
0.0

0.1
–0.5
–0.3
–0.6
0.4

0.1
0.6
1.3
0.2
–0.2

9,291.9
3,251.4
1,184.6
2,067.0
6,040.5

9,309.8
3,265.9
1,187.0
2,078.8
6,044.2

9,344.8
3,275.3
1,207.8
2,069.1
6,069.6

9,352.2
3,300.7
1,220.2
2,082.6
6,052.6

9,353.2
3,304.0
1,225.8
2,081.0
6,050.3

9,373.1
3,311.5
1,227.2
2,087.1
6,062.8

9,364.3
3,299.0
1,210.5
2,089.9
6,066.0

9,357.3
3,272.8
1,203.7
2,071.1
6,084.3

9,337.4
3,244.7
1,193.2
2,053.5
6,091.9

9,354.1
3,268.7
1,182.6
2,085.7
6,085.1

9,363.0
3,263.4
1,180.0
2,083.0
6,099.0

–19.9
–28.1
–10.5
–17.6
7.6

16.7
24.0
–10.6
32.2
–6.8

8.9
–5.3
–2.6
–2.7
13.9

–0.2
–0.9
–0.9
–0.8
0.1

0.2
0.7
–0.9
1.6
–0.1

0.1
–0.2
–0.2
–0.1
0.2

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
–2.4
–15.3
–15.7
–0.4
12.4

17.9
14.5
2.4
11.8
3.7

35.0
9.4
20.8
–9.7
25.4

7.4
25.4
12.4
13.5
–17.0

1.0
3.3
5.6
–1.6
–2.3

19.9
7.5
1.4
6.1
12.5

–8.8
–12.5
–16.7
2.8
3.2

–7.0
–26.2
–6.8
–18.8
18.3

Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates
0.0
–0.5
–1.3
0.0
0.2

0.2
0.4
0.2
0.6
0.1

0.4
0.3
1.8
–0.5
0.4

0.1
0.8
1.0
0.7
–0.3

0.0
0.1
0.5
–0.1
0.0

November

December

0.2
0.2
0.1
0.3
0.2

–0.1
–0.4
–1.4
0.1
0.1

–0.1
–0.8
–0.6
–0.9
0.3

2008
May

June

July

August

2009

September

October

January

February

March

June p

April

May

9,182.3
3,094.7
1,059.6
2,026.2
6,082.0

9,185.5
3,105.3
1,072.6
2,024.9
6,075.5

9,173.5
3,093.7
1,070.2
2,015.9
6,074.5

–15.8
–24.5
–15.6
–9.7
7.1

3.2
10.6
13.0
–1.3
–6.5

–12.0
–11.6
–2.4
–9.0
–1.0

–0.2
–0.8
–1.4
–0.5
0.1

0.0
0.3
1.2
–0.1
–0.1

–0.1
–0.4
–0.2
–0.4
0.0

Billions of chained (2005) dollars, seasonally adjusted at annual rates
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

9,349.6
3,261.4
1,179.6
2,081.5
6,087.7

9,340.3
3,248.7
1,167.6
2,079.6
6,090.8

9,284.0
3,201.1
1,138.4
2,059.3
6,081.3

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

–13.4
–2.0
–0.4
–1.5
–11.3

–9.3
–12.7
–12.0
–1.9
3.1

–56.3
–47.6
–29.2
–20.3
–9.5

Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

–0.1
–0.1
0.0
–0.1
–0.2

–0.1
–0.4
–1.0
–0.1
0.1

–0.6
–1.5
–2.5
–1.0
–0.2

9,281.2
3,220.0
1,157.4
2,061.4
6,060.1

9,238.0
3,159.9
1,123.0
2,033.7
6,075.6

9,210.3
3,126.2
1,081.4
2,037.0
6,080.6

9,218.4
3,131.3
1,082.7
2,040.9
6,083.6

9,157.1
3,073.5
1,066.2
2,000.3
6,077.0

9,210.6
3,128.8
1,094.7
2,028.0
6,078.3

9,218.9
3,141.3
1,091.8
2,042.5
6,074.9

9,198.1
3,119.2
1,075.2
2,035.9
6,074.9

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
–2.8
18.9
19.0
2.1
–21.2

–43.2
–60.1
–34.4
–27.7
15.5

–27.7
–33.7
–41.6
3.3
5.0

8.1
5.1
1.3
3.9
3.0

–61.3
–57.8
–16.5
–40.6
–6.6

53.5
55.3
28.5
27.7
1.3

8.3
12.5
–2.9
14.5
–3.4

–20.8
–22.1
–16.6
–6.6
0.0

Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates

p Preliminary

0.0
0.6
1.7
0.1
–0.3

–0.5
–1.9
–3.0
–1.3
0.3

–0.3
–1.1
–3.7
0.2
0.1

0.1
0.2
0.1
0.2
0.0

–0.7
–1.8
–1.5
–2.0
–0.1

0.6
1.8
2.7
1.4
0.0

0.1
0.4
–0.3
0.7
–0.1

–0.2
–0.7
–1.5
–0.3
0.0

Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
Seasonally adjusted at annual rates
2006

2007

2008

2006
I

II

2007
III

IV

I

II

9,181.6
3,222.5
1,167.9
2,054.7
5,959.4

9,265.1
3,253.9
1,183.7
2,070.3
6,011.7

9,291.5
3,255.4
1,189.9
2,066.1
6,036.2

90.9
46.1
15.8
30.2
45.1

83.5
31.4
15.8
15.6
52.3

26.4
1.5
6.2
–4.2
24.5

4.1
5.9
5.6
6.1
3.1

3.7
3.9
5.5
3.1
3.6

1.1
0.2
2.1
–0.8
1.6

Billions of chained (2005) dollars
Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

9,073.5
3,173.9
1,150.4
2,023.6
5,899.7

9,313.9
3,273.7
1,199.9
2,074.8
6,040.8

9,290.9
3,206.0
1,146.3
2,057.3
6,083.1

8,986.6
3,145.7
1,142.3
2,003.7
5,841.0

9,035.0
3,150.8
1,139.4
2,011.6
5,884.2

9,090.7
3,176.4
1,152.1
2,024.5
5,914.3

Change from preceding period in billions of chained (2005) dollars
Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

254.5
100.0
44.9
55.2
154.6

240.4
99.8
49.5
51.2
141.1

Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

2.9
3.3
4.1
2.8
2.7

2.6
3.1
4.3
2.5
2.4

–23.0
–67.7
–53.6
–17.5
42.3

98.1
56.2
43.9
13.0
42.1

48.4
5.1
–2.9
7.9
43.2

55.7
25.6
12.7
12.9
30.1

Percent change from preceding period in chained (2005) dollars
–0.2
–2.1
–4.5
–0.8
0.7

4.5
7.5
17.0
2.6
2.9

2.2
0.7
–1.0
1.6
3.0

2.5
3.3
4.5
2.6
2.1

Seasonally adjusted at annual rates
2007
III

2008
IV

I

II

2009
III

IV

I

II

Billions of chained (2005) dollars
Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

9,335.6
3,280.6
1,205.0
2,076.8
6,055.5

9,363.6
3,304.8
1,221.2
2,086.0
6,059.7

Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

44.1
25.2
15.1
10.7
19.3

28.0
24.2
16.2
9.2
4.2

9,349.6
3,262.1
1,193.2
2,070.1
6,087.1

9,351.0
3,257.8
1,175.7
2,081.4
6,092.5

9,267.7
3,193.6
1,139.6
2,051.5
6,072.4

9,195.3
3,110.4
1,076.8
2,026.1
6,080.4

9,209.2
3,129.8
1,087.2
2,035.5
6,076.0

9,180.5
3,097.9
1,067.5
2,022.4
6,077.3

13.9
19.4
10.4
9.4
–4.4

–28.7
–31.9
–19.7
–13.1
1.3

0.6
2.5
3.9
1.9
–0.3

–1.2
–4.0
–7.1
–2.5
0.1

Change from preceding period in billions of chained (2005) dollars
–14.0
–42.7
–28.0
–15.9
27.4

1.4
–4.3
–17.5
11.3
5.4

–83.3
–64.2
–36.1
–29.9
–20.1

–72.4
–83.2
–62.8
–25.4
8.0

Percent change from preceding period in chained (2005) dollars
Personal consumption expenditures ........................
Goods........................................................................
Durable goods.......................................................
Nondurable goods .................................................
Services ....................................................................

1.9
3.1
5.2
2.1
1.3

1.2
3.0
5.5
1.8
0.3

–0.6
–5.1
–8.9
–3.0
1.8

0.1
–0.5
–5.7
2.2
0.4

–3.5
–7.7
–11.7
–5.6
–1.3

–3.1
–10.0
–20.3
–4.9
0.5

Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
2006
January

February

March

April

May

June

2007
July

August

September

October

November December

January

February

Chain-type price indexes (2005=100), seasonally adjusted
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

101.725
101.304
99.286
102.444
101.949

101.764
101.017
99.164
102.060
102.164

101.921
101.028
98.974
102.184
102.400

102.328
101.652
98.972
103.166
102.690

102.588
101.809
98.814
103.502
103.005

102.787
101.832
98.442
103.749
103.298

103.119
102.345
98.400
104.578
103.533

103.517
102.920
98.479
105.434
103.836

103.312
101.722
97.963
103.851
104.164

103.079
100.666
98.014
102.165
104.376

103.211
100.603
97.801
102.189
104.613

103.605
101.196
97.552
103.263
104.900

103.889
101.147
97.372
103.292
105.364

104.234
101.498
97.454
103.798
105.705

111.697
101.134
101.769
101.087

110.084
101.291
101.800
101.256

108.641
101.550
101.966
101.542

112.100
101.827
102.362
101.783

113.009
102.065
102.639
102.038

112.796
102.279
102.836
102.252

116.868
102.397
103.204
102.376

119.755
102.652
103.627
102.636

112.242
102.842
103.329
102.785

103.975
103.056
102.999
102.959

105.470
103.115
103.110
102.982

110.317
103.291
103.497
103.112

108.682
103.661
103.760
103.473

109.814
103.908
104.110
103.709

Percent change from preceding period in price indexes, seasonally adjusted at monthly rates
Personal consumption expenditures.................
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

0.4
0.7
–0.1
1.1
0.3

0.0
–0.3
–0.1
–0.4
0.2

0.2
0.0
–0.2
0.1
0.2

0.4
0.6
0.0
1.0
0.3

0.3
0.2
–0.2
0.3
0.3

0.2
0.0
–0.4
0.2
0.3

0.3
0.5
0.0
0.8
0.2

0.4
0.6
0.1
0.8
0.3

–0.2
–1.2
–0.5
–1.5
0.3

–0.2
–1.0
0.1
–1.6
0.2

0.1
–0.1
–0.2
0.0
0.2

0.4
0.6
–0.3
1.1
0.3

0.3
0.0
–0.2
0.0
0.4

0.3
0.3
0.1
0.5
0.3

5.0
0.2
0.5
0.2

–1.4
0.2
0.0
0.2

–1.3
0.3
0.2
0.3

3.2
0.3
0.4
0.2

0.8
0.2
0.3
0.3

–0.2
0.2
0.2
0.2

3.6
0.1
0.4
0.1

2.5
0.2
0.4
0.3

–6.3
0.2
–0.3
0.1

–7.4
0.2
–0.3
0.2

1.4
0.1
0.1
0.0

4.6
0.2
0.4
0.1

–1.5
0.4
0.3
0.4

1.0
0.2
0.3
0.2

2007

2008

March

April

May

June

July

August

September

October

November December

January

104.627
102.191
97.359
104.941
105.935

104.835
102.344
97.148
105.302
106.175

105.108
102.690
96.999
105.933
106.408

105.279
102.609
97.008
105.798
106.716

105.450
102.635
96.767
105.975
106.966

105.589
102.411
96.258
105.913
107.303

106.003
102.836
96.099
106.673
107.712

106.427
103.282
96.169
107.330
108.126

107.142
104.809
96.037
109.822
108.400

107.445
105.019
95.896
110.228
108.756

107.721
105.483
95.963
110.911
108.932

114.558
104.017
104.524
103.795

115.755
104.164
104.746
103.947

118.052
104.300
105.027
104.071

117.372
104.490
105.157
104.215

117.111
104.687
105.274
104.355

116.141
104.870
105.344
104.463

118.823
105.154
105.726
104.687

120.808
105.485
106.166
105.022

130.621
105.685
106.939
105.203

131.406
105.971
107.238
105.480

132.486
106.163
107.563
105.718

February

March

April

107.926
105.607
96.037
111.056
109.183

108.276
105.976
96.111
111.587
109.525

108.513
106.043
96.037
111.731
109.855

133.209
106.311
107.806
105.899

136.061
106.526
108.159
106.095

135.153
106.732
108.392
106.291

Chain-type price indexes (2005=100), seasonally adjusted
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

Percent change from preceding period in price indexes, seasonally adjusted at monthly rates
Personal consumption expenditures.................
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

0.4
0.7
–0.1
1.1
0.2

0.2
0.1
–0.2
0.3
0.2

0.3
0.3
–0.2
0.6
0.2

0.2
–0.1
0.0
–0.1
0.3

0.2
0.0
–0.2
0.2
0.2

0.1
–0.2
–0.5
–0.1
0.3

0.4
0.4
–0.2
0.7
0.4

0.4
0.4
0.1
0.6
0.4

0.7
1.5
–0.1
2.3
0.3

0.3
0.2
–0.1
0.4
0.3

0.3
0.4
0.1
0.6
0.2

0.2
0.1
0.1
0.1
0.2

0.3
0.3
0.1
0.5
0.3

0.2
0.1
–0.1
0.1
0.3

4.3
0.1
0.4
0.1

1.0
0.1
0.2
0.1

2.0
0.1
0.3
0.1

–0.6
0.2
0.1
0.1

–0.2
0.2
0.1
0.1

–0.8
0.2
0.1
0.1

2.3
0.3
0.4
0.2

1.7
0.3
0.4
0.3

8.1
0.2
0.7
0.2

0.6
0.3
0.3
0.3

0.8
0.2
0.3
0.2

0.5
0.1
0.2
0.2

2.1
0.2
0.3
0.2

–0.7
0.2
0.2
0.2

2008
May

June

July

August

2009

September

October

November December

January

February

March

April

May

June p

Chain-type price indexes (2005=100), seasonally adjusted
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

108.918
106.343
95.751
112.360
110.317

109.632
107.647
95.707
114.422
110.716

110.202
108.530
95.766
115.764
111.121

110.242
108.325
95.518
115.575
111.293

110.375
108.497
95.328
115.936
111.411

109.860
106.823
95.205
113.399
111.502

108.625
103.176
94.689
108.065
111.509

108.079
101.353
94.335
105.449
111.615

108.272
101.755
94.227
106.126
111.702

108.592
102.511
94.386
107.207
111.797

108.485
102.292
94.365
106.883
111.747

108.566
102.330
94.485
106.877
111.851

108.626
102.370
94.337
107.016
111.921

109.219
103.857
94.376
109.276
112.059

138.605
106.968
108.787
106.486

147.126
107.228
109.556
106.735

152.212
107.489
110.191
107.020

149.099
107.653
110.249
107.226

147.899
107.814
110.400
107.411

135.895
107.864
109.892
107.564

111.519
107.856
108.521
107.608

100.514
107.878
107.930
107.676

102.273
108.010
108.211
107.900

105.708
108.202
108.605
108.155

102.315
108.307
108.541
108.346

99.926
108.581
108.614
108.643

100.142
108.676
108.658
108.726

108.500
108.851
109.306
108.894

Percent change from preceding period in price indexes, seasonally adjusted at monthly rates
Personal consumption expenditures.................
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

0.4
0.3
–0.3
0.6
0.4

0.7
1.2
0.0
1.8
0.4

0.5
0.8
0.1
1.2
0.4

0.0
–0.2
–0.3
–0.2
0.2

0.1
0.2
–0.2
0.3
0.1

–0.5
–1.5
–0.1
–2.2
0.1

–1.1
–3.4
–0.5
–4.7
0.0

–0.5
–1.8
–0.4
–2.4
0.1

0.2
0.4
–0.1
0.6
0.1

0.3
0.7
0.2
1.0
0.1

–0.1
–0.2
0.0
–0.3
0.0

0.1
0.0
0.1
0.0
0.1

0.1
0.0
–0.2
0.1
0.1

0.5
1.5
0.0
2.1
0.1

2.6
0.2
0.4
0.2

6.1
0.2
0.7
0.2

3.5
0.2
0.6
0.3

–2.0
0.2
0.1
0.2

–0.8
0.1
0.1
0.2

–8.1
0.0
–0.5
0.1

–17.9
0.0
–1.2
0.0

–9.9
0.0
–0.5
0.1

1.8
0.1
0.3
0.2

3.4
0.2
0.4
0.2

–3.2
0.1
–0.1
0.2

–2.3
0.3
0.1
0.3

0.2
0.1
0.0
0.1

8.3
0.2
0.6
0.2

p Preliminary
1. Consists of gasoline and other energy goods and of electricity and gas.
2. Food consists of food and beverages purchased for off-premises consumption; food services, which include
purchased meals and beverages, are not classified as food.

3. This index is a supplemental measure that is based on household expenditures for which there are observable price
measures. It excludes most implicit prices (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
2006
January
Disposable personal income.............
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

February

3.2
3.1
4.2
6.8
2.7
2.5

March

3.8
3.0
3.3
4.8
2.5
2.8

April

4.2
3.1
3.7
4.8
3.1
2.8

May
4.3
2.6
2.2
1.5
2.7
2.7

June
3.8
3.1
3.4
4.5
2.8
2.9

2007
July

3.7
2.3
1.7
1.1
2.1
2.6

August

3.4
2.2
1.3
–1.5
2.9
2.7

3.4
2.3
1.9
1.8
2.0
2.5

September

October

4.6
3.2
4.4
6.8
3.1
2.5

5.0
3.5
4.3
7.7
2.6
3.0

November

December

1.0
2.3
3.2
5.4
2.1
1.8

0.6
1.6
1.6
2.6
1.0
1.6

November

December

4.5
3.1
4.0
5.9
3.0
2.7

4.4
3.3
4.6
5.4
4.1
2.6

2007
March
Disposable personal income.............
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................

April

2.9
3.0
3.8
3.9
3.7
2.5

May
2.5
2.9
2.9
3.5
2.5
2.9

June
2.4
2.9
4.0
6.3
2.7
2.3

July
2.1
2.7
3.1
3.5
2.9
2.5

2.5
3.0
3.7
6.1
2.4
2.7

September
2.1
2.6
3.5
5.2
2.6
2.2

October
1.5
2.1
2.9
5.7
1.5
1.7

January

Disposable personal income.............
Personal consumption expenditures
Goods...............................................
Durable goods ..............................
Nondurable goods ........................
Services ...........................................
p Preliminary

4.9
0.6
–0.2
–1.7
0.7
1.0

June
2.0
0.5
–0.1
–1.4
0.6
0.8

July
0.4
–0.3
–2.0
–4.1
–0.9
0.6

August
–0.8
–0.7
–1.7
–4.2
–0.4
–0.2

February

0.5
1.1
0.6
1.6
0.0
1.4

2008
May

February

3.3
3.3
3.3
3.0
3.5
3.2

3.1
3.1
3.2
3.9
2.8
3.0

2008
August

2.3
2.4
2.7
2.5
2.8
2.3

January

–0.1
0.8
0.0
1.3
–0.6
1.2

March
–0.5
0.8
0.2
–0.5
0.5
1.1

April
–0.3
0.8
0.5
–0.4
0.9
1.0

2009

September
–0.9
–1.2
–4.3
–8.0
–2.3
0.4

October
–0.6
–1.5
–5.4
–11.8
–2.1
0.5

November

December

0.7
–1.7
–5.4
–11.8
–2.2
0.3

1.0
–2.2
–6.8
–11.9
–4.3
0.2

January
1.7
–1.6
–4.4
–9.1
–2.1
–0.1

February
1.0
–1.3
–3.2
–8.5
–0.5
–0.3

March
1.1
–1.7
–4.6
–9.1
–2.4
–0.2

April
1.8
–1.9
–5.2
–10.2
–2.7
–0.3

May
–1.7
–1.8
–4.8
–9.1
–2.7
–0.2

June p
–1.0
–1.8
–4.8
–8.3
–3.1
–0.3

Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
2006
January
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

February

March

April

May

June

2007
July

August

September

October

November December

3.1
2.2
–1.4
4.3
3.5

2.9
1.9
–1.5
4.0
3.4

3.0
2.2
–1.4
4.2
3.4

3.3
2.9
–1.7
5.5
3.5

3.4
3.0
–1.8
5.8
3.6

3.3
2.8
–1.5
5.2
3.6

3.2
2.5
–0.9
4.4
3.6

1.9
–0.8
–1.6
–0.4
3.4

1.5
–1.5
–1.6
–1.4
3.1

1.9
–0.2
–1.6
0.5
3.0

2.3
0.6
–1.8
1.9
3.2

2.1
–0.2
–1.9
0.8
3.3

2.4
0.5
–1.7
1.7
3.5

24.8
2.2
3.3
2.0

20.7
2.1
3.1
1.9

17.6
2.1
2.9
2.0

18.5
2.2
3.0
2.2

24.0
2.3
3.4
2.2

23.6
2.4
3.5
2.4

20.9
2.4
3.4
2.4

16.0
2.5
3.3
2.6

–4.7
2.4
1.9
2.5

–11.0
2.4
1.4
2.4

–3.1
2.2
1.8
2.2

3.7
2.3
2.2
2.2

–2.7
2.5
2.0
2.4

–0.2
2.6
2.3
2.4

2007
April

May

June

July

2008
August

September

October

November December

January

February

March

April

2.7
1.2
–1.6
2.7
3.5

2.4
0.7
–1.8
2.1
3.4

2.5
0.9
–1.8
2.3
3.3

2.4
0.8
–1.5
2.0
3.3

2.3
0.3
–1.7
1.3
3.3

2.0
–0.5
–2.3
0.5
3.3

2.6
1.1
–1.9
2.7
3.4

3.2
2.6
–1.9
5.1
3.6

3.8
4.2
–1.8
7.5
3.6

3.7
3.8
–1.7
6.7
3.7

3.7
4.3
–1.4
7.4
3.4

3.5
4.0
–1.5
7.0
3.3

3.5
3.7
–1.3
6.3
3.4

3.5
3.6
–1.1
6.1
3.5

5.4
2.4
2.5
2.2

3.3
2.3
2.3
2.1

4.5
2.2
2.3
2.0

4.1
2.2
2.3
1.9

0.2
2.2
2.0
1.9

–3.0
2.2
1.7
1.8

5.9
2.2
2.3
1.9

16.2
2.4
3.1
2.0

23.8
2.5
3.7
2.2

19.1
2.6
3.6
2.3

21.9
2.4
3.7
2.2

21.3
2.3
3.6
2.1

18.8
2.4
3.5
2.2

16.8
2.5
3.5
2.3

2008
May
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

February

3.3
2.7
–1.3
5.1
3.6

March
Personal consumption expenditures (PCE)......
Goods................................................................
Durable goods ...............................................
Nondurable goods .........................................
Services ............................................................
Addenda:
Energy goods and services 1 ............................
PCE excluding food and energy 2......................
Market-based PCE 3 .........................................
Market-based PCE excluding food and energy 3

January

June

July

August

2009

September

October

November December

January

February

March

April

May

June p

3.6
3.6
–1.3
6.1
3.7

4.1
4.9
–1.3
8.2
3.7

4.5
5.7
–1.0
9.2
3.9

4.4
5.8
–0.8
9.1
3.7

4.1
5.5
–0.8
8.7
3.4

3.2
3.4
–1.0
5.7
3.1

1.4
–1.6
–1.4
–1.6
2.9

0.6
–3.5
–1.6
–4.3
2.6

0.5
–3.5
–1.8
–4.3
2.5

0.6
–2.9
–1.7
–3.5
2.4

0.2
–3.5
–1.8
–4.2
2.0

0.0
–3.5
–1.6
–4.3
1.8

–0.3
–3.7
–1.5
–4.8
1.5

–0.4
–3.5
–1.4
–4.5
1.2

17.4
2.6
3.6
2.3

25.4
2.6
4.2
2.4

30.0
2.7
4.7
2.6

28.4
2.7
4.7
2.6

24.5
2.5
4.4
2.6

12.5
2.3
3.5
2.4

–14.6
2.1
1.5
2.3

–23.5
1.8
0.6
2.1

–22.8
1.7
0.6
2.1

–20.6
1.8
0.7
2.1

–24.8
1.7
0.4
2.1

–26.1
1.7
0.2
2.2

–27.8
1.6
–0.1
2.1

–26.3
1.5
–0.2
2.0

p Preliminary
1. Consists of gasoline and other energy goods and of electricity and gas.
2. Food consists of food and beverages purchased for off-premises consumption; food services, which include
purchased meals and beverages, are not classified as food.

3. This index is a supplemental measure that is based on household expenditures for which there are observable price
measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final
consumption expenditures of nonprofit institutions serving households.

Table 12. Revisions to Personal Income and Its Disposition
Billions of dollars
Revised estimates

Personal income..........................................................................................................
Compensation of employees, received .................................................................
Wage and salary disbursements........................................................................
Private industries...............................................................................................
Goods-producing industries ..........................................................................
Manufacturing............................................................................................
Services-producing industries.......................................................................
Trade, transportation, and utilities .............................................................
Other services-producing industries .........................................................
Government.......................................................................................................
Supplements to wages and salaries..................................................................
Employer contributions for employee pension and insurance funds..................
Employer contributions for government social insurance ..................................
Proprietors’ income with inventory valuation and capital consumption
adjustments .........................................................................................................
Farm ......................................................................................................................
Nonfarm.................................................................................................................
Rental income of persons with capital consumption adjustment ......................
Personal income receipts on assets .....................................................................
Personal interest income .......................................................................................
Personal dividend income .....................................................................................
Personal current transfer receipts.........................................................................
Government social benefits to persons .................................................................
Old-age, survivors, disability, and health insurance benefits .............................
Government unemployment insurance benefits ................................................
Other .................................................................................................................
Other current transfer receipts, from business (net) ..............................................
Less: Contributions for government social insurance, domestic ......................
Less: Personal current taxes......................................................................................
Equals: Disposable personal income........................................................................
Less: Personal outlays................................................................................................
Personal consumption expenditures..........................................................................
Personal interest payments 1.....................................................................................
Personal current transfer payments...........................................................................
To government.......................................................................................................
To the rest of the world (net)..................................................................................
Equals: Personal saving .............................................................................................
Personal saving as a percentage of disposable personal income .....................
Addenda:
Disposable personal income:
Total, billions of chained (2005) dollars 2 ...............................................................
Per capita:
Current dollars...................................................................................................
Chained (2005) dollars ......................................................................................
Population (midperiod, thousands) 3 .........................................................................

Revisions as a percent
of previously published

Revisions to previously published

2006

2007

2008

11,268.1
7,475.7
6,068.9
5,033.7
1,176.0
738.7
3,857.8
996.0
2,861.8
1,035.2
1,406.9
960.1
446.7

11,894.1
7,862.7
6,408.9
5,319.8
1,212.9
753.5
4,106.9
1,044.7
3,062.2
1,089.1
1,453.8
993.0
460.8

12,238.8
8,042.4
6,545.9
5,404.6
1,206.5
742.0
4,198.1
1,048.3
3,149.8
1,141.3
1,496.6
1,023.9
472.7

274.2
43.1
41.7
29.5
8.8
7.5
20.7
9.3
11.4
12.2
1.6
3.3
–1.8

230.9
44.1
46.9
33.1
7.5
7.5
25.6
9.5
16.1
13.9
–2.8
1.1
–3.9

1,133.0
29.3
1,103.6
146.5
1,829.7
1,127.5
702.2
1,605.0
1,583.6
943.3
29.9
610.4
21.4
921.8
1,352.4
9,915.7
9,680.7
9,322.7
230.1
128.0
76.4
51.6
235.0
2.4

1,096.4
39.4
1,056.9
144.9
2,031.5
1,266.4
765.1
1,718.0
1,687.8
1,003.7
32.3
651.7
30.2
959.3
1,490.9
10,403.1
10,224.3
9,826.4
256.8
141.0
82.3
58.7
178.9
1.7

1,106.3
48.7
1,057.5
210.4
1,994.4
1,308.0
686.4
1,875.9
1,843.2
1,070.3
50.6
722.4
32.6
990.6
1,432.4
10,806.4
10,520.0
10,129.9
237.7
152.3
87.9
64.5
286.4
2.7

118.3
13.1
105.0
102.2
4.9
2.1
2.8
2.0
5.5
4.4
0.0
1.1
–3.5
–3.7
–0.8
275.0
110.7
115.5
–5.3
0.6
0.2
0.5
164.3
1.7

40.2
–4.6
44.7
104.9
31.4
52.1
–20.7
4.7
6.4
4.3
0.0
2.1
–1.7
–5.8
–1.9
232.6
111.2
116.2
–8.6
3.5
1.1
2.4
121.5
1.1

9,650.7

9,860.6

9,911.3 ...................... ....................... ...................... ...................... ...................... .......................

33,183
32,296
298,820

34,478
32,679
301,737

35,486
920
772
536
2.9
2.3
1.5
32,546 ...................... ....................... ...................... ...................... ...................... .......................
304,529
0
0
0
0.0
0.0
0.0

1. Consists of nonmortgage interest paid by households.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized

2006

2007

2008
138.2
–10.4
–2.1
–13.9
–3.5
–0.4
–10.4
0.6
–11.0
11.8
–8.2
–3.0
–5.2

2006

2007
2.5
0.6
0.7
0.6
0.8
1.0
0.5
0.9
0.4
1.2
0.1
0.3
–0.4

2008
2.0
0.6
0.7
0.6
0.6
1.0
0.6
0.9
0.5
1.3
–0.2
0.1
–0.8

1.1
–0.1
0.0
–0.3
–0.3
–0.1
–0.2
0.1
–0.3
1.0
–0.5
–0.3
–1.1

33.9
11.7
3.8
3.2
14.1
80.9
–10.5
40.8
19.6
10.5
4.4
1.9
146.0
230.7
262.3
226.7
–43.3
0.3
1.6
–2.1
99.5
0.2
4.3
8.2
–142.7
0.4
–2.6
–17.2
6.8
0.1
0.3
0.4
8.8
0.3
0.4
0.5
12.0
0.5
0.4
1.1
–1.7
0.0
0.0
–3.3
–1.4
0.2
0.3
–0.2
–2.1
–14.1
–5.3
–6.1
–5.1
–0.4
–0.6
–0.5
–24.9
–0.1
–0.1
–1.7
163.1
2.9
2.3
1.5
69.3
1.2
1.1
0.7
72.0
1.3
1.2
0.7
–10.5
–2.3
–3.2
–4.2
7.8
0.5
2.5
5.4
3.5
0.3
1.4
4.1
4.4
1.0
4.3
7.3
93.7 ...................... ...................... .......................
0.9 ...................... ...................... .......................

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 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)—Continues
2006
January

February

March

April

May

June

2007
July

August

September

October

November

December

January

February

Seasonally adjusted at annual rates
Change from preceding period in
billions of dollars:
Personal income...............................
Previously published.....................
Disposable personal income ............
Previously published.....................
Personal consumption expenditures
Previously published.....................

166.6
113.2
120.9
73.0
77.0
65.9

70.1
44.7
56.7
31.8
30.1
44.8

55.0
35.0
46.8
25.2
38.0
17.8

74.6
62.2
66.4
49.6
53.3
69.9

29.8
17.0
31.5
17.3
30.4
42.3

68.5
59.5
63.2
54.0
28.3
32.1

26.9
43.8
22.9
40.0
77.1
79.5

51.5
52.6
46.5
47.2
16.4
13.9

48.2
56.3
36.7
43.5
24.4
–7.5

49.0
45.7
38.6
31.1
27.2
33.9

53.5
52.0
36.3
35.4
19.8
13.4

101.6
99.4
77.8
77.6
90.5
92.5

38.2
87.7
10.3
64.9
62.9
55.6

80.9
81.2
63.3
64.1
39.7
56.5

Personal saving as a percentage of
disposable personal income.............
Previously published.........................

2.0
1.1

2.2
0.9

2.3
1.0

2.4
0.7

2.4
0.4

2.7
0.6

2.1
0.2

2.3
0.4

2.4
0.9

2.5
0.8

2.6
1.0

2.4
0.8

1.9
0.9

2.1
1.0

Personal income...................................
Previously published.........................

1.5
1.1

0.6
0.4

0.5
0.3

0.7
0.6

0.3
0.2

0.6
0.5

0.2
0.4

0.5
0.5

0.4
0.5

0.4
0.4

0.5
0.5

0.9
0.9

0.3
0.8

0.7
0.7

Disposable personal income ................
Previously published.........................

1.3
0.8

0.6
0.3

0.5
0.3

0.7
0.5

0.3
0.2

0.6
0.6

0.2
0.4

0.5
0.5

0.4
0.4

0.4
0.3

0.4
0.4

0.8
0.8

0.1
0.7

0.6
0.6

Personal consumption expenditures.....
Previously published.........................

0.9
0.7

0.3
0.5

0.4
0.2

0.6
0.8

0.3
0.5

0.3
0.4

0.8
0.9

0.2
0.1

0.3
–0.1

0.3
0.4

0.2
0.1

1.0
1.0

0.7
0.6

0.4
0.6

Real disposable personal income.........
Previously published.........................

0.8
0.3

0.5
0.3

0.3
0.1

0.3
0.1

0.1
–0.1

0.4
0.3

–0.1
0.1

0.1
0.2

0.6
0.7

0.6
0.6

0.2
0.3

0.4
0.4

–0.2
0.4

0.3
0.4

Real personal consumption
expenditures .....................................
Previously published.........................

0.4
0.3

0.3
0.5

0.3
0.0

0.2
0.3

0.1
0.2

0.1
0.1

0.5
0.5

–0.2
–0.2

0.5
0.1

0.5
0.6

0.1
0.1

0.6
0.6

0.4
0.3

0.1
0.3

November

December

Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates

Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates

2007
March

April

May

June

July

2008
August

September

October

January

February

March

April

Seasonally adjusted at annual rates
Change from preceding period in
billions of dollars:
Personal income...............................
Previously published.....................
Disposable personal income ............
Previously published.....................
Personal consumption expenditures
Previously published.....................

73.3
68.7
59.2
51.6
54.2
25.4

7.3
0.4
6.0
–6.4
29.2
53.4

31.3
26.3
26.6
20.0
31.6
51.1

37.6
40.9
29.8
35.4
13.4
28.2

32.4
61.7
26.4
61.0
34.7
37.7

46.0
51.5
41.7
48.2
50.0
35.3

71.1
62.5
61.2
52.0
46.6
33.4

44.8
31.8
41.3
27.4
40.7
17.4

52.0
50.3
41.6
42.5
88.3
102.5

37.3
52.7
29.2
48.9
19.1
21.8

–2.3
6.0
1.1
1.1
18.2
43.2

–5.8
22.4
–10.5
18.9
–2.2
–1.9

17.6
46.6
13.6
40.5
50.8
57.0

10.6
4.1
28.6
16.8
32.0
33.8

Personal saving as a percentage of
disposable personal income.............
Previously published.........................

2.2
1.3

1.8
0.6

1.7
0.2

1.8
0.1

1.7
0.3

1.6
0.4

1.7
0.6

1.7
0.7

1.3
0.1

1.4
0.4

1.3
0.1

1.3
0.3

1.0
0.2

0.8
0.0

Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates
Personal income...................................
Previously published.........................

0.6
0.6

0.1
0.0

0.3
0.2

0.3
0.4

0.3
0.5

0.4
0.4

0.6
0.5

0.4
0.3

0.4
0.4

0.3
0.4

0.0
0.1

0.0
0.2

0.1
0.4

0.1
0.0

Disposable personal income ................
Previously published.........................

0.6
0.5

0.1
–0.1

0.3
0.2

0.3
0.4

0.3
0.6

0.4
0.5

0.6
0.5

0.4
0.3

0.4
0.4

0.3
0.5

0.0
0.0

–0.1
0.2

0.1
0.4

0.3
0.2

Personal consumption expenditures.....
Previously published.........................

0.6
0.3

0.3
0.6

0.3
0.5

0.1
0.3

0.4
0.4

0.5
0.4

0.5
0.3

0.4
0.2

0.9
1.0

0.2
0.2

0.2
0.4

0.0
0.0

0.5
0.6

0.3
0.3

Real disposable personal income.........
Previously published.........................

0.2
0.1

–0.1
–0.3

0.0
–0.1

0.1
0.1

0.1
0.4

0.3
0.4

0.2
0.1

0.0
0.0

–0.3
–0.2

0.0
0.2

–0.2
–0.3

–0.3
0.0

–0.2
0.1

0.0
–0.1

Real personal consumption
expenditures .....................................
Previously published.........................

0.2
–0.1

0.1
0.3

0.1
0.2

0.0
0.1

0.2
0.2

0.4
0.3

0.1
0.0

0.0
–0.1

0.2
0.4

–0.1
–0.1

–0.1
0.1

–0.2
–0.2

0.2
0.3

0.1
0.1

Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates

Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)—Table Ends
2008
May

June

July

August

2009

September

October

November

December

January

February

March

April

May

Seasonally adjusted at annual rates
Change from preceding period in
billions of dollars:
Personal income...............................
Previously published.....................
Disposable personal income ............
Previously published.....................
Personal consumption expenditures.
Previously published.....................

199.3
216.7
591.7
596.3
23.5
70.7

–7.7
13.8
–217.3
–201.3
56.5
52.2

–99.4
–93.7
–112.0
–102.7
–8.8
–9.3

43.6
39.9
–98.0
–110.4
0.7
–16.2

8.2
11.6
22.9
16.2
–35.4
–38.5

–38.4
–28.8
–18.7
–8.6
–78.0
–119.1

–32.6
–50.6
–9.3
–28.1
–105.0
–73.6

–39.0
–28.2
–23.7
–13.0
–116.7
–109.0

–128.6
–0.9
66.5
156.1
75.7
90.1

–101.8
–34.6
–75.3
–10.2
38.6
39.1

–55.0
–33.0
–21.9
1.2
–32.4
–25.3

28.4
78.3
96.2
140.0
–9.7
1.0

155.1
167.1
168.7
178.1
9.0
25.1

Personal saving as a percentage of
disposable personal income.............
Previously published.........................

5.8
4.8

3.5
2.5

2.6
1.7

1.7
0.8

2.2
1.4

2.9
2.5

3.8
3.1

4.7
4.0

4.6
4.6

3.6
4.1

3.7
4.3

4.7
5.6

6.2
6.9

Personal income...................................
Previously published.........................

1.6
1.8

–0.1
0.1

–0.8
–0.8

0.4
0.3

0.1
0.1

–0.3
–0.2

–0.3
–0.4

–0.3
–0.2

–1.1
0.0

–0.8
–0.3

–0.5
–0.3

0.2
0.7

1.3
1.4

Disposable personal income ................
Previously published.........................

5.6
5.7

–1.9
–1.8

–1.0
–0.9

–0.9
–1.0

0.2
0.2

–0.2
–0.1

–0.1
–0.3

–0.2
–0.1

0.6
1.5

–0.7
–0.1

–0.2
0.0

0.9
1.3

1.6
1.6

Personal consumption expenditures.....
Previously published.........................

0.2
0.7

0.6
0.5

–0.1
–0.1

0.0
–0.2

–0.3
–0.4

–0.8
–1.2

–1.0
–0.7

–1.2
–1.1

0.8
0.9

0.4
0.4

–0.3
–0.3

–0.1
0.0

0.1
0.3

Real disposable personal income.........
Previously published.........................

5.2
5.2

–2.6
–2.6

–1.5
–1.5

–0.9
–1.0

0.1
0.1

0.3
0.3

1.1
0.8

0.3
0.4

0.4
1.2

–1.0
–0.4

–0.1
0.0

0.8
1.2

1.5
1.6

Real personal consumption
expenditures .....................................
Previously published.........................

–0.1
0.2

–0.1
–0.2

–0.6
–0.6

0.0
–0.1

–0.5
–0.5

–0.3
–0.8

0.1
0.4

–0.7
–0.6

0.6
0.7

0.1
0.0

–0.2
–0.2

–0.2
–0.1

0.0
0.2

Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates

Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates

Table 14. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Years and Quarters)
Seasonally adjusted at annual rates
2006

2007

2008

2006
I

II

2007
III

IV

I

II

Change from preceding period in billions of dollars:
Personal income....................................................................................
Previously published..........................................................................
Disposable personal income .................................................................
Previously published..........................................................................
Personal consumption expenditures......................................................
Previously published..........................................................................

782.2
724.1
638.4
578.7
503.7
513.1

626.0
669.3
487.4
529.8
503.7
503.0

344.7
437.4
403.3
472.8
303.5
347.7

285.9
220.6
218.1
157.0
137.9
132.6

177.3
131.6
158.6
106.5
118.4
135.6

132.9
142.9
118.7
127.8
125.2
121.8

167.9
168.6
128.7
125.2
92.3
73.3

202.1
248.3
136.2
188.4
174.4
167.9

116.5
104.5
94.3
74.5
104.0
132.6

Personal saving as a percentage of disposable personal income.............
Previously published..............................................................................

2.4
0.7

1.7
0.6

2.7
1.8

2.2
1.0

2.5
0.6

2.3
0.5

2.5
0.9

2.0
1.1

1.8
0.3

Personal income........................................................................................
Previously published..............................................................................

7.5
7.1

5.6
6.1

2.9
3.8

11.1
8.6

6.6
5.0

4.8
5.3

6.1
6.2

7.2
9.1

4.0
3.7

Disposable personal income .....................................................................
Previously published..............................................................................

6.9
6.4

4.9
5.5

3.9
4.6

9.5
6.9

6.7
4.6

4.9
5.4

5.3
5.3

5.5
7.9

3.7
3.0

Personal consumption expenditures..........................................................
Previously published..............................................................................

5.7
5.9

5.4
5.5

3.1
3.6

6.3
6.1

5.3
6.1

5.5
5.4

4.0
3.2

7.6
7.4

4.4
5.7

Percent change from preceding period for current-dollar measures

Percent change from preceding period for chained-dollar measures
Real disposable personal income..............................................................
Previously published..............................................................................

4.0
3.5

2.2
2.8

0.5
1.3

7.7
5.1

3.6
1.3

1.9
2.3

5.3
5.8

1.7
4.4

0.5
–0.6

Real personal consumption expenditures .................................................
Previously published..............................................................................

2.9
3.0

2.6
2.8

–0.2
0.2

4.5
4.3

2.2
2.8

2.5
2.2

4.1
3.7

3.7
3.9

1.1
2.0

Seasonally adjusted at annual rates
2007
III

2008
IV

I

II

2009
III

IV

I

Change from preceding period in billions of dollars:
Personal income....................................................................................
Previously published..........................................................................
Disposable personal income .................................................................
Previously published..........................................................................
Personal consumption expenditures......................................................
Previously published..........................................................................

122.2
152.9
103.3
140.8
103.1
108.1

154.7
141.7
133.4
122.7
153.6
127.1

41.9
88.4
32.0
74.0
75.9
109.6

150.7
191.7
356.3
380.5
99.6
135.7

–6.3
18.2
–117.4
–106.3
25.4
25.5

–53.1
–50.9
–50.2
–57.7
–210.3
–235.6

–251.7
–70.7
–9.9
131.7
–22.1
10.6

Personal saving as a percentage of disposable personal income.............
Previously published..............................................................................

1.6
0.5

1.5
0.4

1.2
0.2

3.4
2.5

2.2
1.3

3.8
3.2

4.0
4.3

Personal income........................................................................................
Previously published..............................................................................

4.2
5.4

5.3
4.9

1.4
3.0

5.1
6.6

–0.2
0.6

–1.7
–1.7

–8.0
–2.3

Disposable personal income .....................................................................
Previously published..............................................................................

4.1
5.7

5.2
4.9

1.2
2.9

14.1
15.4

–4.2
–3.9

–1.8
–2.1

–0.4
5.0

Personal consumption expenditures..........................................................
Previously published..............................................................................

4.3
4.6

6.4
5.3

3.1
4.5

4.0
5.5

1.0
1.0

–8.0
–9.0

–0.9
0.4

Real disposable personal income..............................................................
Previously published..............................................................................

1.7
3.1

0.1
0.6

–2.4
–0.7

9.8
10.7

–8.5
–8.5

3.4
2.9

1.1
6.0

Real personal consumption expenditures .................................................
Previously published..............................................................................

1.9
2.0

1.2
1.0

–0.6
0.9

0.1
1.2

–3.5
–3.8

–3.1
–4.3

0.6
1.4

Percent change from preceding period for current-dollar measures

Percent change from preceding period for current-dollar measures