Full text of Bureau of Economic Analysis (BEA) News Releases : Personal Income and Outlays: June 2011 | Revised Estimates: 2003 Through May 2011, BEA 11-39 : Full Release

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NEWS RELEASE
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, AUGUST 2, 2011
James Rankin: (202) 606-5301
Kyle Brown: (202) 606-5302
Kurt Kunze:
(202) 606-9748

(Personal Income)
(Personal Consumption Expenditures)
(Annual Revision)

BEA 11-39

piniwd@bea.gov
pce@bea.gov

PERSONAL INCOME AND OUTLAYS: JUNE 2011
REVISED ESTIMATES: 2003 THROUGH MAY 2011
Personal income increased $18.7 billion, or 0.1 percent, and disposable personal income (DPI)
increased $16.3 billion, or 0.1 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) decreased $21.9 billion, or 0.2 percent. In May,
personal income increased $23.2 billion, or 0.2 percent, DPI increased $17.6 billion, or 0.2
percent, and PCE increased $5.9 billion, or 0.1 percent, based on revised estimates.
Real disposable income increased 0.3 percent in June, in contrast to a decrease of less than 0.1
percent in May. Real PCE decreased less than 0.1 percent, compared with a decrease of 0.1 percent.
2011
Feb.
Mar.
Apr.
May
(Percent change from preceding month)
Personal income, current dollars
Disposable personal income:
Current dollars
Chained (2005) dollars
Personal consumption expenditures:
Current dollars
Chained (2005) dollars

June

0.5

0.4

0.4

0.2

0.1

0.4
0.0

0.4
0.0

0.4
0.1

0.2
0.0

0.1
0.3

0.8
0.4

0.6
0.2

0.2
-0.1

0.1
-0.1

-0.2
0.0

________________________

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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Wages and salaries
Private wage and salary disbursements decreased $2.2 billion in June, in contrast to an increase of
$15.0 billion in May. Goods-producing industries' payrolls decreased $1.8 billion, in contrast to an
increase of $4.8 billion; manufacturing payrolls decreased $2.1 billion, in contrast to an increase of
$4.1 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase
of $10.1 billion. Government wage and salary disbursements decreased $0.4 billion, compared with a
decrease of $0.5 billion.

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Other personal income
Supplements to wages and salaries increased $1.5 billion in June, compared with an increase of
$2.8 billion in May.
Proprietors' income decreased $0.8 billion in June, in contrast to an increase of $0.6 billion in
May. Farm proprietors' income decreased $0.5 billion, the same decrease as in May. Nonfarm
proprietors' income decreased $0.3 billion in June, in contrast to an increase of $1.1 billion in May.
Rental income of persons decreased $1.2 billion in June, compared with a decrease of $1.3 billion
in May. Personal income receipts on assets (personal interest income plus personal dividend income)
increased $12.0 billion, compared with an increase of $10.1 billion. Personal current transfer receipts
increased $9.5 billion, in contrast to a decrease of $1.4 billion. Changes in personal current transfer
receipts reflect the effects of unemployment compensation legislation.
Contributions for government social insurance -- a subtraction in calculating personal income -decreased $0.2 billion in June, in contrast to an increase of $2.2 billion in May.

Personal current taxes and disposable personal income
Personal current taxes increased $2.3 billion in June, compared with an increase of $5.6 billion in
May. Disposable personal income (DPI) -- personal income less personal current taxes -- increased
$16.3 billion, or 0.1 percent, in June, compared with an increase of $17.6 billion, or 0.2 percent in
May.

Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -decreased $22.6 billion in June, in contrast to an increase of $5.3 billion in May. PCE decreased
$21.9 billion, in contrast to an increase of $5.9 billion.
Personal saving -- DPI less personal outlays -- was $620.6 billion in June, compared with $581.7
billion in May. Personal saving as a percentage of disposable personal income was 5.4 percent in
June, compared with 5.0 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.

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Real DPI, real PCE and price index
Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in June, in contrast to a
decrease of less than 0.1 percent in May.
Real PCE -- PCE adjusted to remove price changes -- decreased less than 0.1 percent in June,
compared with a decrease of 0.1 percent in May. Purchases of durable goods decreased 0.6 percent,
compared with a decrease of 1.4 percent. Purchases of motor vehicles and parts accounted for most of
the decrease in June and in May. Purchases of nondurable goods increased 0.2 percent in June, in
contrast to a decrease of 0.3 percent in May. Purchases of services decreased less than 0.1 percent, in
contrast to an increase of 0.2 percent.
PCE price index -- The price index for PCE decreased 0.2 percent in June, in contrast to an
increase of 0.2 percent in May. The PCE price index, excluding food and energy, increased 0.1
percent, compared with an increase of 0.2 percent.

Revisions of the Personal Income and Outlays Estimates
The revised estimates of personal income, personal outlays, DPI, and personal saving reflect the
results of the annual revision of the national income and product accounts (NIPAs). In addition to the
regular revision of estimates for the most recent 3 years and the first 5 months of 2011, this “flexible”
annual revision results in revisions to current-dollar personal outlays and personal saving back to
January 2003. The reference year remains 2005. In cases for which the estimates for the reference
year (2005) are revised, this results in revisions to the levels of the related index numbers and
chained-dollar estimates for the entire historical period; revisions to percent changes before the first
quarter of 2003 are small. Annual revisions, which are usually released in July, incorporate newly
available and more comprehensive source data, as well as improved methodologies. In this annual
revision, the notable revisions primarily reflect the incorporation of newly available and revised
source data.
Revised annual estimates of personal income and outlays for 2008-2010 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 $69.1 billion, or 0.6 percent, for 2008; was revised down $244.7
billion, or 2.0 percent, for 2009; and was revised down $167.5 billion, or 1.3 percent, for 2010. For
2008, upward revisions to personal interest income, to supplements to wages and salaries, and to
rental income of persons were partly offset by downward revisions to personal dividend income, to
wages and salaries, and to nonfarm proprietors’ income. For 2009, downward revisions to personal
interest income, to personal dividend income, and to nonfarm proprietors’ income were partly offset
by upward revisions to rental income of persons and to farm proprietors’ income. For 2010,
downward revisions to personal interest income, to nonfarm proprietors’ income, to supplements to
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wages and salaries, and to personal current transfer receipts were partly offset by upward revisions to
rental income of persons, to wages and salaries, and to farm proprietors’ income.
Disposable personal income (DPI) (personal income less personal current taxes) was revised up
$71.6 billion, or 0.7 percent, for 2008; was revised down $246.1 billion, or 2.2 percent, for 2009; and
was revised down $195.0 billion, or 1.7 percent, for 2010. Personal current taxes was revised down
$2.5 billion for 2008, was revised up $1.4 billion for 2009, and was revised up $27.6 billion for 2010.
The percent change from the preceding year in real DPI was revised up from 1.7 percent to 2.4
percent for 2008, was revised down from an increase of 0.6 percent to a decrease of 2.3 percent for
2009, and was revised up from an increase of 1.4 percent to an increase of 1.8 percent for 2010.
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -was revised down for all 3 years: $72.8 billion for 2008, $143.3 billion for 2009, and $133.8 billion
for 2010. For all 3 years, downward revisions to PCE accounted for most of the revisions to personal
outlays.
The personal saving rate (personal saving as a percentage of DPI) was revised up from 4.1
percent to 5.4 percent for 2008, was revised down from 5.9 percent to 5.1 percent for 2009, and was
revised down from 5.7 percent to 5.3 percent for 2010.
For the earlier period 2004-2007, PCE was revised down for all 4 years: $14.5 billion for 2004,
$15.5 billion for 2005, $21.7 billion for 2006, and $34.0 billion for 2007. The personal saving rate
was revised up from 3.4 percent to 3.6 percent for 2004, was revised up from 1.4 percent to 1.5
percent for 2005, was revised up from 2.4 percent to 2.6 percent for 2006, and was revised up from
2.1 percent to 2.4 percent for 2007. (For 2003, PCE was revised up by less than $1 billion, and the
personal saving rate was unrevised.)

NOTE. BEA acknowledges the special efforts by the Bureau of Labor Statistics with the assistance
of 16 state employment offices in providing preliminary data for the first quarter of 2011 from the
quarterly census of employment and wages. Wage and salary data from the state employment offices
of California, Colorado, Connecticut, Delaware, Florida, Illinois, Kansas, Massachusetts, Missouri,
New Mexico, North Carolina, New Jersey, New York, Ohio, Pennsylvania, and Texas were provided.
These data should greatly improve the estimates of wages and salaries.

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Annual Revision of the National Income and Product Accounts
The estimates released today reflect the results of the annual revision of the national income and
product accounts (NIPAs). In addition to the regular revision of estimates for the most recent 3 years and
through May 2011, current-dollar personal income and outlays and some components are revised back to
January 2003. In cases for which the estimates for the reference year (2005) are revised, this results in
revisions to the levels of the related index numbers and chained-dollar estimates for the entire historical
period; revision to percent changes before January 2003 are small. Annual revisions, which are usually
released in July, incorporate source data that are more complete, more detailed, and otherwise more
reliable than those previously available. This release includes the revised monthly estimates of personal
income and personal outlays and provides an overview of the results of the revision.
The August 2011 Survey of Current Business will contain NIPA tables and an article describing the
revisions. The complete set of revised estimates will be available on BEA’s Web site at www.bea.gov.

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 29, 2011, 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
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

February

March

April

May

June

July

August

September October

November

12,346.2
8,070.5
6,584.0
5,462.1
1,231.4
756.0
4,230.8
1,060.7
3,170.1
1,121.9
1,486.5
1,016.2
470.3

12,415.1
8,100.3
6,601.0
5,472.4
1,227.9
753.4
4,244.6
1,065.2
3,179.4
1,128.6
1,499.3
1,027.5
471.8

12,485.5
8,126.1
6,616.5
5,484.1
1,238.4
757.8
4,245.7
1,065.4
3,180.4
1,132.3
1,509.6
1,036.4
473.3

12,456.6
8,078.0
6,565.0
5,430.1
1,221.0
747.5
4,209.1
1,056.4
3,152.7
1,134.9
1,513.0
1,042.9
470.1

12,636.6
8,069.9
6,551.6
5,414.3
1,217.5
746.5
4,196.8
1,051.8
3,145.0
1,137.3
1,518.3
1,048.9
469.4

12,621.9
8,072.3
6,548.2
5,406.8
1,216.9
748.6
4,189.9
1,051.7
3,138.2
1,141.4
1,524.1
1,054.6
469.5

12,497.8
8,073.0
6,543.7
5,397.9
1,207.1
743.0
4,190.8
1,047.9
3,142.9
1,145.8
1,529.2
1,059.7
469.5

12,528.1
8,091.3
6,556.6
5,405.2
1,204.9
739.8
4,200.4
1,047.1
3,153.3
1,151.4
1,534.7
1,063.7
471.0

12,513.9
8,090.0
6,551.5
5,395.7
1,193.9
732.4
4,201.8
1,047.8
3,154.0
1,155.8
1,538.5
1,067.1
471.4

12,456.2
8,093.7
6,552.8
5,393.4
1,193.8
733.0
4,199.6
1,044.0
3,155.6
1,159.3
1,540.9
1,069.5
471.4

12,352.4
8,051.1
6,511.1
5,350.9
1,184.2
725.3
4,166.7
1,034.9
3,131.7
1,160.3
1,540.0
1,070.8
469.1

1,103.1
58.2
1,044.9
179.8
2,187.0
1,358.8
828.2
1,792.4
1,755.9
594.0
452.0
330.6
36.4
44.1
298.8
36.6
986.6
1,523.9
10,822.3
10,424.8
10,014.5
3,437.3
1,178.2
2,259.1
6,577.3
260.9
149.4
84.6
64.8
397.5
3.7

1,110.3
61.6
1,048.7
188.3
2,211.6
1,373.1
838.5
1,794.4
1,757.5
594.5
452.3
330.3
35.9
44.5
300.0
36.9
989.8
1,534.4
10,880.7
10,403.6
9,997.2
3,397.1
1,158.4
2,238.6
6,600.2
257.4
149.0
84.3
64.8
477.1
4.4

1,127.5
61.7
1,065.8
198.6
2,216.2
1,384.1
832.1
1,810.0
1,773.0
603.5
452.9
333.1
37.9
43.9
301.6
37.0
992.9
1,549.8
10,935.7
10,445.1
10,043.8
3,432.7
1,152.3
2,280.4
6,611.0
252.4
148.9
84.1
64.8
490.6
4.5

1,127.0
58.6
1,068.4
209.2
2,207.3
1,397.4
809.9
1,822.2
1,785.5
599.6
455.9
335.4
38.3
44.5
311.8
36.7
987.1
1,543.4
10,913.2
10,484.7
10,081.5
3,442.7
1,151.4
2,291.3
6,638.8
251.2
152.0
84.3
67.7
428.5
3.9

1,128.8
55.3
1,073.5
218.9
2,201.4
1,404.2
797.3
2,003.7
1,967.1
604.7
457.2
339.4
36.1
44.3
485.4
36.6
986.1
1,154.0
11,482.6
10,524.4
10,121.7
3,460.5
1,149.3
2,311.3
6,661.2
250.6
152.1
84.4
67.7
958.2
8.3

1,125.8
51.9
1,073.9
227.4
2,200.5
1,406.3
794.2
1,982.4
1,945.8
604.3
458.8
340.4
39.1
45.3
457.9
36.5
986.5
1,357.9
11,264.1
10,578.9
10,176.2
3,497.3
1,139.0
2,358.3
6,678.9
250.4
152.3
84.6
67.7
685.2
6.1

1,116.5
48.3
1,068.2
233.6
2,207.4
1,418.4
788.9
1,854.0
1,817.4
608.7
461.7
341.9
44.9
45.8
314.4
36.6
986.7
1,350.3
11,147.5
10,575.2
10,171.0
3,487.3
1,112.3
2,375.1
6,683.7
249.6
154.5
84.7
69.8
572.3
5.1

1,109.0
46.1
1,062.8
242.6
2,201.6
1,422.2
779.4
1,873.1
1,836.4
608.4
464.0
340.9
61.8
44.8
316.6
36.7
989.5
1,480.7
11,047.4
10,546.7
10,143.8
3,475.8
1,124.3
2,351.5
6,668.0
248.2
154.7
84.9
69.8
500.7
4.5

1,086.5
45.4
1,041.1
254.4
2,183.5
1,419.4
764.1
1,889.5
1,852.7
609.5
466.5
340.0
67.3
45.6
323.7
36.8
989.9
1,465.2
11,048.7
10,493.4
10,092.5
3,405.1
1,083.3
2,321.8
6,687.4
246.0
154.9
85.1
69.8
555.3
5.0

1,072.9
46.1
1,026.9
269.3
2,119.2
1,372.3
746.9
1,891.6
1,854.7
609.3
469.4
339.1
62.0
45.7
329.1
36.9
990.4
1,449.6
11,006.6
10,375.5
9,992.2
3,303.8
1,033.4
2,270.4
6,688.4
235.6
147.8
85.4
62.4
631.1
5.7

1,051.2
45.1
1,006.1
277.1
2,057.8
1,333.3
724.5
1,901.0
1,863.9
611.3
472.6
340.6
67.3
45.5
326.6
37.1
985.9
1,422.6
10,929.8
10,221.6
9,847.0
3,167.5
1,022.1
2,145.4
6,679.5
226.5
148.1
85.7
62.4
708.2
6.5

9,812.0

9,851.4

9,867.4

9,798.7

9,756.7

9,703.0

9,655.2

9,673.9

9,634.2

9,629.3

9,642.2

10,061.6

10,092.6

10,107.9

10,055.6

10,536.3

10,272.6

10,112.1

10,030.2

10,018.9

10,032.1

10,083.5

35,645
33,140
303,609

35,814
33,220
303,809

35,971
33,248
304,012

35,873
33,054
304,220

37,717
34,609
304,439

36,971
33,716
304,677

36,559
33,163
304,921

36,200
32,867
305,177

36,174
32,802
305,431

36,008
32,820
305,670

35,731
32,964
305,895

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 1. Personal Income and Its Disposition (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2008
December
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

2009
January

February

March

April

May

June

July

August

September October

12,211.5
7,963.6
6,428.3
5,268.0
1,155.7
707.3
4,112.3
1,023.8
3,088.5
1,160.3
1,535.2
1,071.0
464.2

12,075.7
7,863.9
6,331.0
5,161.9
1,122.8
687.6
4,039.2
1,012.0
3,027.2
1,169.1
1,532.9
1,071.3
461.6

11,945.2
7,802.1
6,273.2
5,104.6
1,105.7
680.4
3,998.8
1,003.1
2,995.7
1,168.6
1,528.9
1,070.9
458.0

11,872.2
7,764.1
6,237.2
5,068.1
1,084.4
669.4
3,983.7
991.1
2,992.7
1,169.1
1,526.9
1,070.9
456.1

11,887.2
7,803.3
6,273.3
5,098.9
1,075.8
669.2
4,023.1
991.2
3,031.8
1,174.4
1,530.0
1,071.3
458.7

12,043.9
7,817.3
6,285.6
5,109.5
1,061.9
657.8
4,047.7
992.3
3,055.4
1,176.1
1,531.7
1,071.6
460.1

11,901.2
7,807.1
6,275.6
5,098.3
1,054.0
652.9
4,044.3
985.0
3,059.3
1,177.3
1,531.5
1,072.2
459.4

11,862.5
7,782.7
6,252.4
5,074.7
1,047.3
648.7
4,027.4
980.0
3,047.4
1,177.8
1,530.3
1,072.9
457.3

11,868.5
7,784.2
6,253.5
5,076.2
1,045.1
648.4
4,031.1
983.7
3,047.4
1,177.3
1,530.8
1,073.4
457.4

11,891.4
7,778.6
6,248.0
5,071.7
1,040.7
648.6
4,031.0
985.7
3,045.3
1,176.3
1,530.7
1,074.2
456.5

11,874.9
7,788.1
6,256.7
5,078.7
1,039.9
653.0
4,038.8
983.4
3,055.4
1,178.0
1,531.4
1,075.1
456.3

1,016.0
42.7
973.3
280.2
1,991.2
1,294.3
696.8
1,936.7
1,899.4
618.7
476.2
347.0
84.3
46.1
327.2
37.3
976.1
1,396.1
10,815.4
10,111.9
9,744.8
3,073.0
1,002.3
2,070.7
6,671.8
218.6
148.5
86.1
62.4
703.5
6.5

984.8
38.7
946.1
276.5
1,919.8
1,237.2
682.6
2,002.9
1,965.3
648.0
479.0
356.5
91.5
49.9
340.5
37.6
972.1
1,228.7
10,847.0
10,171.1
9,798.5
3,129.5
1,033.1
2,096.4
6,669.0
220.1
152.6
86.4
66.2
675.9
6.2

957.7
36.5
921.2
277.6
1,847.4
1,193.8
653.6
2,025.3
1,987.5
651.9
482.6
361.5
99.7
48.8
343.0
37.8
965.0
1,198.9
10,746.3
10,169.9
9,796.2
3,149.5
1,022.8
2,126.7
6,646.7
220.7
153.0
86.9
66.2
576.4
5.4

938.1
36.2
901.9
282.4
1,787.5
1,153.9
633.6
2,061.0
2,023.0
655.6
485.9
368.2
112.0
50.2
351.1
38.0
960.9
1,166.5
10,705.7
10,124.5
9,750.5
3,113.1
1,004.4
2,108.7
6,637.4
220.6
153.5
87.3
66.2
581.2
5.4

930.7
37.8
892.9
291.5
1,733.5
1,141.9
591.6
2,094.2
2,056.0
661.8
489.0
370.3
117.1
50.2
367.6
38.1
966.0
1,124.2
10,763.0
10,122.9
9,750.3
3,110.8
997.6
2,113.3
6,639.4
218.9
153.8
87.8
66.0
640.1
5.9

926.5
38.9
887.7
299.9
1,704.9
1,129.3
575.6
2,263.4
2,225.2
657.4
491.8
372.9
130.3
50.1
522.6
38.2
968.1
1,120.0
10,923.9
10,144.4
9,772.6
3,138.2
1,013.2
2,125.0
6,634.4
217.5
154.2
88.2
66.0
779.6
7.1

923.3
39.3
884.0
307.8
1,684.0
1,117.7
566.3
2,145.4
2,107.1
668.0
494.3
376.7
136.4
51.1
380.6
38.3
966.5
1,116.8
10,784.3
10,193.0
9,822.0
3,181.9
1,017.7
2,164.2
6,640.2
216.3
154.7
88.7
66.0
591.3
5.5

925.3
39.3
886.0
315.3
1,652.0
1,093.6
558.5
2,150.0
2,111.7
665.1
496.5
382.7
139.2
51.3
376.7
38.4
962.8
1,119.0
10,743.5
10,230.0
9,856.1
3,206.6
1,035.3
2,171.3
6,649.5
216.9
157.1
89.3
67.8
513.5
4.8

931.3
39.4
891.9
320.0
1,633.3
1,072.4
561.0
2,162.1
2,123.7
662.0
498.5
384.4
148.6
52.0
378.2
38.4
962.5
1,121.4
10,747.1
10,349.3
9,974.9
3,304.6
1,102.8
2,201.8
6,670.3
216.8
157.6
89.8
67.8
397.7
3.7

931.4
39.8
891.7
322.5
1,621.7
1,053.2
568.5
2,198.1
2,159.6
676.6
500.2
382.2
146.5
52.8
401.3
38.4
960.9
1,121.5
10,770.0
10,276.5
9,902.3
3,225.6
1,012.2
2,213.4
6,676.8
216.0
158.1
90.3
67.8
493.5
4.6

938.0
40.4
897.6
322.0
1,616.6
1,037.7
578.8
2,170.9
2,132.5
673.1
501.6
378.1
142.9
53.1
383.6
38.4
960.8
1,121.5
10,753.3
10,326.6
9,958.0
3,245.1
1,023.4
2,221.7
6,712.9
208.1
160.5
90.9
69.6
426.8
4.0

9,527.6

9,325.5

9,156.8

9,064.6

9,032.5

9,009.6

8,939.4

8,892.0

8,859.6

8,832.4

8,813.9

10,028.9

10,042.3

9,919.6

9,891.1

9,927.2

10,063.0

9,881.9

9,836.0

9,809.5

9,813.3

9,767.0

35,332
32,763
306,106

35,413
32,785
306,305

35,062
32,365
306,495

34,907
32,251
306,688

35,072
32,348
306,885

35,572
32,768
307,095

35,091
32,155
307,323

34,931
31,980
307,562

34,914
31,868
307,815

34,960
31,854
308,068

34,879
31,680
308,304

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 1. Personal Income and Its Disposition (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2009

2010

November December
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

January

February

March

April

May

June

July

August

September

11,932.7
7,810.9
6,277.2
5,098.8
1,042.9
658.2
4,055.9
983.4
3,072.5
1,178.4
1,533.7
1,076.1
457.6

12,006.9
7,814.2
6,280.2
5,099.0
1,040.1
657.2
4,058.8
984.6
3,074.2
1,181.2
1,534.0
1,077.4
456.6

12,099.7
7,847.8
6,297.8
5,110.7
1,040.7
657.4
4,070.0
987.0
3,083.0
1,187.1
1,550.1
1,082.1
468.0

12,127.7
7,837.7
6,287.9
5,099.8
1,030.3
650.1
4,069.5
985.2
3,084.3
1,188.0
1,549.8
1,083.3
466.5

12,185.8
7,871.9
6,319.0
5,128.4
1,039.8
658.2
4,088.6
990.0
3,098.6
1,190.7
1,552.9
1,084.8
468.1

12,271.9
7,924.5
6,367.9
5,176.1
1,051.8
667.5
4,124.3
1,001.1
3,123.2
1,191.8
1,556.6
1,086.0
470.6

12,343.8
7,980.5
6,418.9
5,218.4
1,066.2
680.1
4,152.2
1,006.5
3,145.7
1,200.5
1,561.6
1,087.7
474.0

12,361.2
7,975.0
6,412.7
5,216.0
1,057.8
673.3
4,158.3
1,005.9
3,152.3
1,196.7
1,562.3
1,089.1
473.3

12,409.2
8,007.7
6,442.4
5,248.3
1,066.3
679.8
4,182.0
1,015.1
3,166.9
1,194.1
1,565.3
1,090.5
474.8

12,472.8
8,030.0
6,461.6
5,271.8
1,072.5
682.4
4,199.3
1,016.9
3,182.4
1,189.8
1,568.4
1,091.9
476.5

12,477.7
8,028.9
6,459.6
5,273.9
1,072.6
684.4
4,201.3
1,015.8
3,185.5
1,185.7
1,569.3
1,093.5
475.9

948.0
41.3
906.6
324.9
1,629.6
1,035.8
593.9
2,182.0
2,143.7
671.5
502.8
377.3
150.9
54.0
387.1
38.4
962.7
1,126.8
10,805.9
10,338.7
9,977.5
3,273.4
1,043.5
2,229.9
6,704.1
200.1
161.1
91.5
69.6
467.2
4.3

959.4
42.6
916.8
330.8
1,661.6
1,040.4
621.2
2,201.8
2,163.6
682.5
503.7
378.7
152.2
54.1
392.4
38.3
961.0
1,131.0
10,875.9
10,388.4
10,034.6
3,291.4
1,049.6
2,241.8
6,743.2
192.1
161.7
92.1
69.6
487.6
4.5

969.6
44.2
925.4
339.2
1,681.6
1,033.5
648.1
2,238.4
2,200.3
676.9
504.3
384.3
158.1
54.9
421.8
38.1
977.0
1,141.7
10,958.0
10,410.7
10,054.6
3,311.6
1,042.1
2,269.5
6,743.0
191.5
164.6
92.8
71.9
547.3
5.0

980.2
44.9
935.2
345.0
1,698.2
1,025.9
672.2
2,240.8
2,202.8
678.1
505.4
387.2
152.5
55.9
423.7
38.0
974.1
1,144.5
10,983.3
10,453.0
10,098.8
3,332.8
1,049.7
2,283.1
6,766.1
188.9
165.2
93.4
71.9
530.2
4.8

995.3
44.7
950.5
348.0
1,700.2
1,018.9
681.3
2,247.2
2,209.3
680.8
506.9
388.4
147.6
56.4
429.1
37.9
976.9
1,153.2
11,032.6
10,507.8
10,157.6
3,369.9
1,082.2
2,287.7
6,787.7
184.4
165.8
93.9
71.9
524.8
4.8

1,017.3
43.6
973.6
348.4
1,713.6
1,016.3
697.3
2,250.2
2,212.4
687.9
508.9
389.1
142.1
56.6
427.8
37.8
982.1
1,163.8
11,108.1
10,513.6
10,169.1
3,354.0
1,074.7
2,279.3
6,815.1
177.1
167.3
94.4
72.9
594.5
5.4

1,026.2
45.0
981.2
348.9
1,725.1
1,014.0
711.1
2,251.2
2,213.3
688.8
511.3
388.9
137.2
57.6
429.6
38.0
988.2
1,177.7
11,166.0
10,535.8
10,194.6
3,338.6
1,073.0
2,265.6
6,856.0
173.4
167.8
94.8
72.9
630.2
5.6

1,033.2
48.8
984.4
350.0
1,735.0
1,012.2
722.9
2,254.8
2,216.7
688.1
514.2
391.4
132.9
57.7
432.4
38.1
986.8
1,184.6
11,176.6
10,531.5
10,190.6
3,327.5
1,067.4
2,260.1
6,863.1
172.8
168.2
95.2
72.9
645.1
5.8

1,046.1
55.0
991.0
351.2
1,731.1
998.8
732.3
2,263.0
2,224.8
693.1
517.5
396.5
127.2
58.3
432.2
38.2
989.8
1,200.7
11,208.5
10,568.5
10,227.9
3,349.1
1,080.2
2,268.8
6,878.8
170.8
169.8
95.6
74.3
640.0
5.7

1,058.4
59.1
999.3
352.8
1,725.0
984.0
741.0
2,299.2
2,261.3
691.3
521.2
403.9
146.5
59.4
438.9
38.0
992.7
1,214.3
11,258.5
10,624.7
10,286.3
3,392.0
1,082.8
2,309.1
6,894.3
168.3
170.1
95.9
74.3
633.9
5.6

1,066.4
60.8
1,005.6
354.3
1,714.0
968.9
745.1
2,305.9
2,268.2
697.3
525.4
415.3
133.8
59.3
437.2
37.6
991.9
1,223.4
11,254.2
10,651.2
10,315.6
3,418.4
1,099.4
2,318.9
6,897.2
165.2
170.4
96.1
74.3
603.0
5.4

8,839.1

8,883.3

8,912.1

8,927.7

8,960.2

9,031.8

9,100.3

9,127.7

9,143.1

9,153.0

9,140.9

9,795.6

9,853.4

9,903.3

9,917.7

9,946.6

10,010.9

10,068.3

10,094.2

10,100.4

10,129.1

10,113.6

35,024
31,750
308,526

35,228
31,916
308,733

35,471
32,057
308,930

35,531
32,084
309,119

35,668
32,157
309,312

35,889
32,345
309,509

36,052
32,508
309,718

36,060
32,568
309,946

36,135
32,563
310,185

36,266
32,628
310,439

36,223
32,552
310,691

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 1. Personal Income and Its Disposition (Months)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2010
October
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

November

2011
December

January

February

March

April

May

June p

12,546.0
8,054.1
6,481.5
5,292.0
1,072.0
685.4
4,220.0
1,017.9
3,202.2
1,189.5
1,572.5
1,095.2
477.3

12,561.8
8,041.5
6,468.2
5,280.4
1,069.5
684.2
4,210.8
1,012.8
3,198.0
1,187.8
1,573.3
1,096.7
476.5

12,625.0
8,056.8
6,481.4
5,293.0
1,071.0
687.1
4,222.0
1,017.6
3,204.4
1,188.4
1,575.4
1,098.6
476.8

12,769.2
8,113.9
6,525.1
5,334.9
1,086.0
696.4
4,248.9
1,021.5
3,227.4
1,190.2
1,588.7
1,100.9
487.8

12,832.0
8,156.6
6,563.2
5,372.2
1,087.8
695.9
4,284.4
1,029.3
3,255.1
1,191.0
1,593.4
1,103.0
490.4

12,887.4
8,188.7
6,591.1
5,399.1
1,096.5
703.4
4,302.6
1,035.0
3,267.5
1,192.0
1,597.6
1,105.0
492.5

12,940.3
8,218.7
6,618.0
5,425.5
1,103.0
707.0
4,322.5
1,043.8
3,278.7
1,192.5
1,600.8
1,106.9
493.9

12,963.5
8,236.1
6,632.5
5,440.5
1,107.8
711.1
4,332.6
1,043.2
3,289.4
1,192.0
1,603.6
1,108.7
494.9

12,982.2
8,235.0
6,629.9
5,438.3
1,106.0
709.0
4,332.3
1,044.7
3,287.6
1,191.6
1,605.1
1,110.4
494.6

1,077.8
60.4
1,017.5
354.8
1,725.0
977.9
747.1
2,329.0
2,289.1
697.5
530.1
431.1
133.7
59.5
437.2
39.9
994.7
1,235.1
11,310.9
10,710.3
10,377.4
3,466.3
1,123.5
2,342.8
6,911.1
164.1
168.8
96.3
72.5
600.6
5.3

1,081.0
60.1
1,021.0
354.9
1,738.6
989.3
749.3
2,338.9
2,299.8
696.7
535.2
441.2
127.8
58.9
440.0
39.1
993.2
1,239.9
11,321.9
10,749.4
10,417.7
3,481.4
1,123.1
2,358.3
6,936.3
162.7
168.9
96.5
72.5
572.5
5.1

1,085.7
59.9
1,025.7
354.7
1,766.8
1,001.5
765.3
2,355.6
2,316.8
705.6
540.7
447.2
124.6
59.6
439.0
38.8
994.5
1,247.6
11,377.3
10,786.3
10,456.1
3,502.5
1,127.6
2,374.8
6,953.6
161.2
169.0
96.6
72.5
591.0
5.2

1,086.6
63.0
1,023.6
369.7
1,772.2
1,003.1
769.1
2,331.2
2,291.1
702.8
544.3
436.5
121.5
61.0
424.9
40.1
904.4
1,351.2
11,418.1
10,828.8
10,498.0
3,546.0
1,139.9
2,406.1
6,952.0
160.8
170.0
96.6
73.5
589.3
5.2

1,097.1
66.1
1,031.1
384.9
1,780.2
1,004.7
775.4
2,322.9
2,284.0
701.4
547.9
430.7
116.4
60.6
427.0
38.9
909.8
1,364.3
11,467.7
10,908.1
10,577.7
3,603.3
1,162.6
2,440.7
6,974.4
160.3
170.1
96.6
73.5
559.6
4.9

1,103.1
69.2
1,033.9
400.3
1,779.2
1,006.4
772.8
2,330.1
2,290.7
705.1
551.1
429.0
114.5
62.4
428.6
39.3
914.0
1,374.2
11,513.2
10,969.3
10,639.2
3,627.4
1,161.0
2,466.4
7,011.9
159.8
170.2
96.7
73.5
543.9
4.7

1,105.2
68.7
1,036.5
398.4
1,792.5
1,011.1
781.4
2,342.6
2,303.1
713.1
553.2
433.4
110.8
63.1
429.5
39.4
917.1
1,381.3
11,559.0
10,989.6
10,659.6
3,646.9
1,157.9
2,489.0
7,012.7
159.0
171.0
96.9
74.1
569.4
4.9

1,105.8
68.2
1,037.6
397.1
1,802.6
1,015.8
786.9
2,341.2
2,301.8
711.4
553.9
438.7
103.1
61.8
432.9
39.4
919.3
1,386.9
11,576.6
10,994.9
10,665.5
3,623.5
1,143.1
2,480.4
7,042.0
158.2
171.2
97.1
74.1
581.7
5.0

1,105.0
67.7
1,037.3
395.9
1,814.6
1,020.5
794.2
2,350.7
2,311.3
712.1
554.7
440.8
107.8
63.6
432.4
39.3
919.1
1,389.2
11,592.9
10,972.3
10,643.6
3,603.7
1,138.6
2,465.2
7,039.9
157.3
171.4
97.3
74.1
620.6
5.4

9,161.7

9,159.8

9,178.4

9,295.2

9,321.2

9,327.1

9,332.4

9,338.6

9,362.7

10,142.5

10,144.6

10,168.7

10,167.9

10,171.5

10,171.6

10,178.9

10,177.5

10,209.4

36,378
32,620
310,927

36,387
32,604
311,149

36,543
32,660
311,345

36,653
32,640
311,521

36,791
32,633
311,696

36,915
32,613
311,884

37,042
32,619
312,049

37,076
32,595
312,240

37,103
32,675
312,456

p Preliminary
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 2. Personal Income and Its Disposition (Years and Quarters)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2007

2008

2009

2010

2008
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

II

III

IV

11,912.3
7,862.2
6,421.7
5,332.7
1,213.4
752.2
4,119.3
1,045.2
3,074.1
1,089.0
1,440.4
980.5
459.9

12,460.2
8,073.3
6,550.9
5,406.8
1,207.7
740.9
4,199.0
1,049.7
3,149.3
1,144.1
1,522.5
1,052.4
470.1

11,930.2
7,801.4
6,270.3
5,095.0
1,063.4
660.9
4,031.7
989.6
3,042.0
1,175.3
1,531.1
1,073.1
458.0

12,373.5
7,971.4
6,408.2
5,217.4
1,059.2
674.2
4,158.2
1,006.0
3,152.2
1,190.8
1,563.1
1,089.9
473.2

12,415.6
8,099.0
6,600.5
5,472.9
1,232.6
755.7
4,240.4
1,063.7
3,176.6
1,127.6
1,498.5
1,026.7
471.8

12,571.7
8,073.4
6,554.9
5,417.1
1,218.5
747.6
4,198.6
1,053.3
3,145.3
1,137.9
1,518.5
1,048.8
469.7

12,513.3
8,084.7
6,550.6
5,399.6
1,201.9
738.4
4,197.7
1,047.6
3,150.1
1,151.0
1,534.1
1,063.5
470.6

12,340.0
8,036.1
6,497.4
5,337.4
1,177.9
721.8
4,159.5
1,034.2
3,125.3
1,160.0
1,538.7
1,070.5
468.3

1,090.4
37.8
1,052.6
143.7
2,057.0
1,265.1
791.9
1,718.5
1,687.9
575.6
427.6
324.1
32.7
41.7
286.2
30.5
959.5
1,488.7
10,423.6
10,174.9
9,772.3
3,363.9
1,188.4
2,175.5
6,408.3
260.9
141.7
82.4
59.3
248.7
2.4

1,097.9
51.8
1,046.1
231.6
2,165.4
1,382.0
783.4
1,879.2
1,842.4
605.5
461.6
338.2
50.9
45.0
341.1
36.8
987.3
1,435.7
11,024.5
10,432.2
10,035.5
3,381.7
1,108.9
2,272.8
6,653.8
245.6
151.0
84.9
66.2
592.3
5.4

941.2
39.2
902.0
305.9
1,707.7
1,108.9
598.8
2,138.1
2,099.9
664.5
493.8
374.1
130.6
51.5
385.4
38.2
964.1
1,141.4
10,788.8
10,236.3
9,866.1
3,197.5
1,029.6
2,167.8
6,668.7
213.7
156.5
89.1
67.4
552.6
5.1

1,036.4
52.2
984.2
350.2
1,721.2
1,003.4
717.7
2,281.2
2,242.9
690.2
518.4
405.4
138.7
57.9
432.4
38.3
986.8
1,193.9
11,179.7
10,586.9
10,245.5
3,387.0
1,085.5
2,301.5
6,858.5
173.4
168.0
95.1
72.9
592.8
5.3

1,113.7
60.5
1,053.1
188.9
2,205.0
1,372.0
832.9
1,798.9
1,762.1
597.3
452.4
331.4
36.7
44.1
300.1
36.8
989.8
1,536.0
10,879.6
10,424.5
10,018.5
3,422.3
1,163.0
2,259.4
6,596.2
256.9
149.1
84.3
64.8
455.0
4.2

1,127.2
55.3
1,071.9
218.5
2,203.1
1,402.7
800.4
1,936.1
1,899.5
602.9
457.3
338.4
37.8
44.7
418.4
36.6
986.6
1,351.8
11,220.0
10,529.4
10,126.5
3,466.9
1,146.6
2,320.3
6,659.6
250.7
152.1
84.4
67.7
690.6
6.2

1,104.0
46.6
1,057.4
243.5
2,197.5
1,420.0
777.5
1,872.2
1,835.5
608.9
464.1
340.9
58.0
45.4
318.2
36.7
988.7
1,432.1
11,081.2
10,538.4
10,135.8
3,456.1
1,106.6
2,349.4
6,679.7
247.9
154.7
84.9
69.8
542.8
4.9

1,046.7
44.6
1,002.1
275.6
2,056.0
1,333.3
722.8
1,909.7
1,872.7
613.1
472.8
342.2
71.2
45.8
327.6
37.1
984.2
1,422.8
10,917.3
10,236.3
9,861.3
3,181.4
1,019.3
2,162.2
6,679.9
226.9
148.1
85.7
62.4
680.9
6.2

9,662.5

9,712.3

8,969.7

9,083.0

9,843.7

9,752.6

9,654.4

9,599.7

9,880.3

10,119.5

9,882.7

10,061.6

10,087.4

10,288.5

10,053.7

10,047.9

34,512
32,713
302,025

36,166
33,197
304,831

35,088
32,141
307,483

36,051
32,446
310,106

35,810
33,203
303,810

36,854
33,794
304,445

36,311
32,944
305,177

35,690
32,848
305,890

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 2. Personal Income and Its Disposition (Years and Quarters)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2009
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 ............................................................................................
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................
Per capita:
Current dollars ..........................................................................................
Chained (2005) dollars..............................................................................
Population (midperiod, thousands) 5 ................................................................

II

2010
III

IV

I

II

2011
III

IV

I

II

11,964.4
7,810.1
6,280.5
5,111.5
1,104.3
679.1
4,007.2
1,002.0
3,005.2
1,168.9
1,529.6
1,071.0
458.6

11,944.1
7,809.2
6,278.2
5,102.2
1,063.9
660.0
4,038.3
989.5
3,048.9
1,175.9
1,531.1
1,071.7
459.4

11,874.1
7,781.9
6,251.3
5,074.2
1,044.3
648.5
4,029.8
983.1
3,046.7
1,177.1
1,530.6
1,073.5
457.1

11,938.2
7,804.4
6,271.4
5,092.2
1,041.0
656.1
4,051.2
983.8
3,067.4
1,179.2
1,533.0
1,076.2
456.8

12,137.7
7,852.5
6,301.6
5,113.0
1,036.9
655.3
4,076.0
987.4
3,088.7
1,188.6
1,550.9
1,083.4
467.5

12,325.6
7,960.0
6,399.8
5,203.5
1,058.6
673.6
4,144.9
1,004.5
3,140.4
1,196.3
1,560.2
1,087.6
472.6

12,453.2
8,022.2
6,454.5
5,264.7
1,070.5
682.2
4,194.2
1,015.9
3,178.3
1,189.9
1,567.7
1,092.0
475.7

12,577.6
8,050.8
6,477.0
5,288.4
1,070.8
685.5
4,217.6
1,016.1
3,201.5
1,188.6
1,573.7
1,096.8
476.9

12,829.5
8,153.1
6,559.8
5,368.7
1,090.1
698.5
4,278.6
1,028.6
3,250.0
1,191.1
1,593.2
1,103.0
490.2

12,962.0
8,230.0
6,626.8
5,434.7
1,105.6
709.0
4,329.1
1,043.9
3,285.2
1,192.1
1,603.2
1,108.7
494.5

960.2
37.1
923.1
278.8
1,851.5
1,194.9
656.6
2,029.8
1,992.0
651.8
482.5
362.0
101.1
49.6
344.9
37.8
966.0
1,198.0
10,766.3
10,155.2
9,781.7
3,130.7
1,020.1
2,110.6
6,651.0
220.5
153.0
86.9
66.2
611.1
5.7

926.9
38.7
888.2
299.7
1,707.5
1,129.7
577.8
2,167.7
2,129.4
662.4
491.7
373.3
127.9
50.5
423.6
38.2
966.9
1,120.3
10,823.8
10,153.4
9,781.6
3,143.6
1,009.5
2,134.1
6,638.0
217.6
154.2
88.3
66.0
670.3
6.2

929.3
39.5
889.9
319.3
1,635.7
1,073.1
562.6
2,170.1
2,131.7
667.9
498.4
383.1
144.8
52.1
385.4
38.4
962.1
1,120.6
10,753.5
10,285.3
9,911.1
3,245.6
1,050.1
2,195.5
6,665.5
216.6
157.6
89.8
67.8
468.2
4.4

948.5
41.4
907.0
325.9
1,636.0
1,038.0
598.0
2,184.9
2,146.6
675.7
502.7
378.0
148.7
53.8
387.7
38.3
961.5
1,126.4
10,811.7
10,351.2
9,990.0
3,270.0
1,038.8
2,231.1
6,720.1
200.1
161.1
91.5
69.6
460.5
4.3

981.7
44.6
937.1
344.1
1,693.3
1,026.1
667.2
2,242.1
2,204.1
678.6
505.6
386.6
152.8
55.8
424.8
38.0
976.0
1,146.4
10,991.3
10,457.2
10,103.7
3,338.1
1,058.0
2,280.1
6,765.6
188.3
165.2
93.4
71.9
534.1
4.9

1,025.6
45.8
979.7
349.1
1,724.5
1,014.1
710.4
2,252.1
2,214.1
688.3
511.5
389.8
137.4
57.3
429.9
38.0
985.7
1,175.4
11,150.2
10,527.0
10,184.8
3,340.1
1,071.7
2,268.3
6,844.7
174.4
167.8
94.8
72.9
623.3
5.6

1,057.0
58.3
998.7
352.8
1,723.4
983.9
739.4
2,289.4
2,251.4
693.9
521.4
405.2
135.8
59.0
436.1
37.9
991.5
1,212.8
11,240.4
10,614.8
10,276.6
3,386.5
1,087.5
2,299.0
6,890.1
168.1
170.1
95.8
74.3
625.6
5.6

1,081.5
60.1
1,021.4
354.8
1,743.5
989.6
753.9
2,341.2
2,301.9
699.9
535.3
439.8
128.7
59.4
438.7
39.3
994.1
1,240.9
11,336.7
10,748.6
10,417.1
3,483.4
1,124.7
2,358.7
6,933.7
162.7
168.9
96.5
72.5
588.1
5.2

1,095.6
66.1
1,029.5
385.0
1,777.2
1,004.7
772.5
2,328.1
2,288.6
703.1
547.8
432.1
117.5
61.3
426.9
39.5
909.4
1,363.2
11,466.3
10,902.1
10,571.7
3,592.2
1,154.5
2,437.8
6,979.4
160.3
170.1
96.6
73.5
564.3
4.9

1,105.3
68.2
1,037.2
397.1
1,803.2
1,015.8
787.5
2,344.8
2,305.4
712.2
553.9
437.6
107.3
62.8
431.6
39.4
918.5
1,385.8
11,576.2
10,985.6
10,656.2
3,624.7
1,146.5
2,478.2
7,031.5
158.2
171.2
97.1
74.1
590.6
5.1

9,182.2

8,993.8

8,861.3

8,845.5

8,933.4

9,086.5

9,145.7

9,166.7

9,314.4

9,344.5

9,951.0

9,957.3

9,819.6

9,805.4

9,922.5

10,057.8

10,114.4

10,152.0

10,170.2

10,188.6

35,127
32,467
306,496

35,245
32,423
307,101

34,935
31,901
307,815

35,044
31,782
308,521

35,557
32,099
309,120

36,001
32,473
309,724

36,208
32,581
310,438

36,436
32,628
311,140

36,786
32,628
311,700

37,074
32,630
312,248

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the
following month; the annual and quarterly estimates are averages of the monthly estimates.

Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2008
January February
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 ..........................
Social security 1 ..........................................................
Medicare 2 ..................................................................
Medicaid......................................................................
Unemployment insurance ...........................................
Veterans’ 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 3..............................................
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 4 .................................
Disposable personal income, billions of chained (2005)
dollars 4 ..........................................................................

March
70.4
25.8
15.5
11.7
10.5
4.4
1.1
0.2
1.0
3.7
10.3

April
–28.9
–48.1
–51.5
–54.0
–17.4
–10.3
–36.6
–9.0
–27.7
2.6
3.4

May
180.0
–8.1
–13.4
–15.8
–3.5
–1.0
–12.3
–4.6
–7.7
2.4
5.3

June
–14.7
2.4
–3.4
–7.5
–0.6
2.1
–6.9
–0.1
–6.8
4.1
5.8

2009

July
–124.1
0.7
–4.5
–8.9
–9.8
–5.6
0.9
–3.8
4.7
4.4
5.1

August September October November December January February

119.0
28.2
12.7
0.1
–6.0
–7.6
6.1
0.2
6.0
12.6
15.5

68.9
29.8
17.0
10.3
–3.5
–2.6
13.8
4.5
9.3
6.7
12.8

30.3
18.3
12.9
7.3
–2.2
–3.2
9.6
–0.8
10.4
5.6
5.5

–14.2
–1.3
–5.1
–9.5
–11.0
–7.4
1.4
0.7
0.7
4.4
3.8

–57.7
3.7
1.3
–2.3
–0.1
0.6
–2.2
–3.8
1.6
3.5
2.4

–103.8
–42.6
–41.7
–42.5
–9.6
–7.7
–32.9
–9.1
–23.9
1.0
–0.9

–140.9
–87.5
–82.8
–82.9
–28.5
–18.0
–54.4
–11.1
–43.2
0.0
–4.8

13.9

11.3

8.9

6.5

6.0

5.7

5.1

4.0

3.4

2.4

1.3

0.2

0.3

–0.4

1.6

1.5

1.5

–3.2

–0.7

0.1

0.0

1.5

0.4

0.0

–2.3

–4.9

–2.6

–3.6

3.4
6.6
–3.2

7.2
3.4
3.8

17.2
0.1
17.1

–0.5
–3.1
2.6

1.8
–3.3
5.1

–3.0
–3.4
0.4

–9.3
–3.6
–5.7

–7.5
–2.2
–5.4

–22.5
–0.7
–21.7

–13.6
0.7
–14.2

–21.7
–1.0
–20.8

–35.2
–2.4
–32.8

–31.2
–4.0
–27.2

–27.1
–2.2
–24.9

8.0
66.6
41.5
25.1
21.1
19.1
4.8
11.8
–2.7
–0.6
1.4
4.3
2.1

8.5
24.6
14.3
10.3
2.0
1.6
0.5
0.3
–0.3
–0.5
0.4
1.2
0.3

10.3
4.6
11.0
–6.4
15.6
15.5
9.0
0.6
2.8
2.0
–0.6
1.6
0.1

10.6
–8.9
13.3
–22.2
12.2
12.5
–3.9
3.0
2.3
0.4
0.6
10.2
–0.3

9.7
–5.9
6.8
–12.6
181.5
181.6
5.1
1.3
4.0
–2.2
–0.2
173.6
–0.1

8.5
–0.9
2.1
–3.1
–21.3
–21.3
–0.4
1.6
1.0
3.0
1.0
–27.5
–0.1

6.2
6.9
12.1
–5.3
–128.4
–128.4
4.4
2.9
1.5
5.8
0.5
–143.5
0.1

9.0
–5.8
3.8
–9.5
19.1
19.0
–0.3
2.3
–1.0
16.9
–1.0
2.2
0.1

11.8
–18.1
–2.8
–15.3
16.4
16.3
1.1
2.5
–0.9
5.5
0.8
7.1
0.1

14.9
–64.3
–47.1
–17.2
2.1
2.0
–0.2
2.9
–0.9
–5.3
0.1
5.4
0.1

7.8
–61.4
–39.0
–22.4
9.4
9.2
2.0
3.2
1.5
5.3
–0.2
–2.5
0.2

3.1
–66.6
–39.0
–27.7
35.7
35.5
7.4
3.6
6.4
17.0
0.6
0.6
0.2

–3.7
–71.4
–57.1
–14.2
66.2
65.9
29.3
2.8
9.5
7.2
3.8
13.3
0.3

1.1
–72.4
–43.4
–29.0
22.4
22.2
3.9
3.6
5.0
8.2
–1.1
2.5
0.2

8.3
–6.3
125.3
11.1
11.3
–14.7
–10.5
–4.2
26.1
–2.8
2.6
–1.0
3.6
114.2

3.2
10.5
58.4
–21.2
–17.3
–40.2
–19.8
–20.5
22.9
–3.5
–0.4
–0.3
0.0
79.6

3.1
15.4
55.0
41.5
46.6
35.6
–6.1
41.8
10.8
–5.0
–0.1
–0.2
0.0
13.5

–5.8
–6.4
–22.5
39.6
37.7
10.0
–0.9
10.9
27.8
–1.2
3.1
0.2
2.9
–62.1

–1.0
–389.4
569.4
39.7
40.2
17.8
–2.1
20.0
22.4
–0.6
0.1
0.1
0.0
529.7

0.4
203.9
–218.5
54.5
54.5
36.8
–10.3
47.0
17.7
–0.2
0.2
0.2
0.0
–273.0

0.2
–7.6
–116.6
–3.7
–5.2
–10.0
–26.7
16.8
4.8
–0.8
2.2
0.1
2.1
–112.9

2.8
130.4
–100.1
–28.5
–27.2
–11.5
12.0
–23.6
–15.7
–1.4
0.2
0.2
0.0
–71.6

0.4
–15.5
1.3
–53.3
–51.3
–70.7
–41.0
–29.7
19.4
–2.2
0.2
0.2
0.0
54.6

0.5
–15.6
–42.1
–117.9
–100.3
–101.3
–49.9
–51.4
1.0
–10.4
–7.1
0.3
–7.4
75.8

–4.5
–27.0
–76.8
–153.9
–145.2
–136.3
–11.3
–125.0
–8.9
–9.1
0.3
0.3
0.0
77.1

–9.8
–26.5
–114.4
–109.7
–102.2
–94.5
–19.8
–74.7
–7.7
–7.9
0.4
0.4
0.0
–4.7

–4.0
–167.4
31.6
59.2
53.7
56.5
30.8
25.7
–2.8
1.5
4.1
0.3
3.8
–27.6

–7.1
–29.8
–100.7
–1.2
–2.3
20.0
–10.3
30.3
–22.3
0.6
0.4
0.5
0.0
–99.5

62.1

39.4

16.0

–68.7

–42.0

–53.7

–47.8

18.7

–39.7

–4.9

12.9

–114.6

–202.1

–168.7

86.9

31.0

15.3

–52.3

480.7

–263.7

–160.5

–81.9

–11.3

13.2

51.4

–54.6

13.4

–122.7

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

–135.8
–99.7
–97.3
–106.1
–32.9
–19.7
–73.1
–11.8
–61.3
8.8
–2.3

–130.5
–61.8
–57.8
–57.3
–17.1
–7.2
–40.4
–8.9
–31.5
–0.5
–4.0

Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2009
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 .........................................
Social security 1 ............................
Medicare 2 ....................................
Medicaid........................................
Unemployment insurance .............
Veterans’ 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 3................
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 4 .................................
Disposable personal income, billions of
chained (2005) dollars 4 ...................

April

May

June

July

2010
August

September October

November December

January

February

March

April

–73.0

15.0

156.7

–142.7

–38.7

6.0

22.9

–16.5

57.8

74.2

92.8

28.0

58.1

86.1

–38.0
–36.0
–36.5
–21.3
–11.0
–15.1

39.2
36.1
30.8
–8.6
–0.2
39.4

14.0
12.3
10.6
–13.9
–11.4
24.6

–10.2
–10.0
–11.2
–7.9
–4.9
–3.4

–24.4
–23.2
–23.6
–6.7
–4.2
–16.9

1.5
1.1
1.5
–2.2
–0.3
3.7

–5.6
–5.5
–4.5
–4.4
0.2
–0.1

9.5
8.7
7.0
–0.8
4.4
7.8

22.8
20.5
20.1
3.0
5.2
17.1

3.3
3.0
0.2
–2.8
–1.0
2.9

33.6
17.6
11.7
0.6
0.2
11.2

–10.1
–9.9
–10.9
–10.4
–7.3
–0.5

34.2
31.1
28.6
9.5
8.1
19.1

52.6
48.9
47.7
12.0
9.3
35.7

–12.0

0.1

1.1

–7.3

–5.0

3.7

2.0

–2.3

0.0

1.2

2.4

–1.8

4.8

11.1

–3.0
0.5

39.1
5.3

23.6
1.7

3.9
1.2

–11.9
0.5

0.0
–0.5

–2.1
–1.0

10.1
1.7

17.1
0.4

1.7
2.8

8.8
5.9

1.3
0.9

14.3
2.7

24.6
1.1

–2.0

3.1

1.7

–0.2

–1.2

0.5

–0.1

0.7

2.3

0.3

16.1

–0.3

3.1

3.7

0.0

0.4

0.3

0.6

0.7

0.5

0.8

0.9

1.0

1.3

4.7

1.2

1.5

1.2

–1.9

2.6

1.4

–0.7

–2.1

0.1

–0.9

–0.2

1.3

–1.0

11.4

–1.5

1.6

2.5

–19.6
–0.3
–19.3

–7.4
1.6
–9.0

–4.2
1.1
–5.2

–3.2
0.4
–3.7

2.0
0.0
2.0

6.0
0.1
5.9

0.1
0.4
–0.2

6.6
0.6
5.9

10.0
0.9
9.0

11.4
1.3
10.2

10.2
1.6
8.6

10.6
0.7
9.8

15.1
–0.2
15.3

22.0
–1.1
23.1

4.8
–59.9
–39.9
–20.0
35.7

9.1
–54.0
–12.0
–42.0
33.2

8.4
–28.6
–12.6
–16.0
169.2

7.9
–20.9
–11.6
–9.3
–118.0

7.5
–32.0
–24.1
–7.8
4.6

4.7
–18.7
–21.2
2.5
12.1

2.5
–11.6
–19.2
7.5
36.0

–0.5
–5.1
–15.5
10.3
–27.2

2.9
13.0
–1.9
15.1
11.1

5.9
32.0
4.6
27.3
19.8

8.4
20.0
–6.9
26.9
36.6

5.8
16.6
–7.6
24.1
2.4

3.0
2.0
–7.0
9.1
6.4

0.4
13.4
–2.6
16.0
3.0

35.5
3.7
3.3
6.7
12.3
1.4
8.1

33.0
6.2
3.1
2.1
5.1
0.0
16.5

169.2
–4.4
2.8
2.6
13.2
–0.1
155.0

–118.1
10.6
2.5
3.8
6.1
1.0
–142.0

4.6
–2.9
2.2
6.0
2.8
0.2
–3.9

12.0
–3.1
2.0
1.7
9.4
0.7
1.5

35.9
14.6
1.7
–2.2
–2.1
0.8
23.1

–27.1
–3.5
1.4
–4.1
–3.6
0.3
–17.7

11.2
–1.6
1.2
–0.8
8.0
0.9
3.5

19.9
11.0
0.9
1.4
1.3
0.1
5.3

36.7
–5.6
0.6
5.6
5.9
0.8
29.4

2.5
1.2
1.1
2.9
–5.6
1.0
1.9

6.5
2.7
1.5
1.2
–4.9
0.5
5.4

3.1
7.1
2.0
0.7
–5.5
0.2
–1.3

0.2

0.1

0.1

0.1

0.1

0.0

0.0

0.0

0.0

–0.1

–0.2

–0.1

–0.1

–0.1

–4.1
–32.4
–40.6
–45.4
–45.7
–36.4
–18.4
–18.0
–9.3
–0.1
0.5
0.4
0.0
4.8

5.1
–42.3
57.3
–1.6
–0.2
–2.3
–6.8
4.6
2.0
–1.7
0.3
0.5
–0.2
58.9

2.1
–4.2
160.9
21.5
22.3
27.4
15.6
11.7
–5.0
–1.4
0.4
0.4
0.0
139.5

–1.6
–3.2
–139.6
48.6
49.4
43.7
4.5
39.2
5.8
–1.2
0.5
0.5
0.0
–188.3

–3.7
2.2
–40.8
37.0
34.1
24.7
17.6
7.1
9.3
0.6
2.4
0.6
1.8
–77.8

–0.3
2.4
3.6
119.3
118.8
98.0
67.5
30.5
20.8
–0.1
0.5
0.5
0.0
–115.8

–1.6
0.1
22.9
–72.8
–72.6
–79.0
–90.6
11.6
6.5
–0.8
0.5
0.5
0.0
95.8

–0.1
0.0
–16.7
50.1
55.7
19.5
11.2
8.3
36.1
–7.9
2.4
0.6
1.8
–66.7

1.9
5.3
52.6
12.1
19.5
28.3
20.1
8.2
–8.8
–8.0
0.6
0.6
0.0
40.4

–1.7
4.2
70.0
49.7
57.1
18.0
6.1
11.9
39.1
–8.0
0.6
0.6
0.0
20.4

16.0
10.7
82.1
22.3
20.0
20.2
–7.5
27.7
–0.2
–0.6
2.9
0.7
2.3
59.7

–2.9
2.8
25.3
42.3
44.2
21.2
7.6
13.6
23.1
–2.6
0.6
0.6
0.0
–17.1

2.8
8.7
49.3
54.8
58.8
37.1
32.5
4.6
21.6
–4.5
0.6
0.5
0.0
–5.4

5.2
10.6
75.5
5.8
11.5
–15.9
–7.5
–8.4
27.4
–7.3
1.5
0.5
1.0
69.7

–92.2

–32.1

–22.9

–70.2

–47.4

–32.4

–27.2

–18.5

25.2

44.2

28.8

15.6

32.5

71.6

–28.5

36.1

135.8

–181.1

–45.9

–26.5

3.8

–46.3

28.6

57.8

49.9

14.4

28.9

64.3

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2010
May
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 .........................................
Social security 1 ............................
Medicare 2 ....................................
Medicaid........................................
Unemployment insurance .............
Veterans’ 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 3................
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 4 .................................
Disposable personal income, billions of
chained (2005) dollars 4 ...................

June

July

August

2011

September October

November December

January

February

March

April

June p

May

71.9

17.4

48.0

63.6

4.9

68.3

15.8

63.2

144.2

62.8

55.4

52.9

23.2

18.7

56.0
51.0
42.3
14.4
12.6
27.9

–5.5
–6.2
–2.4
–8.4
–6.8
6.1

32.7
29.7
32.3
8.5
6.5
23.7

22.3
19.2
23.5
6.2
2.6
17.3

–1.1
–2.0
2.1
0.1
2.0
2.0

25.2
21.9
18.1
–0.6
1.0
18.7

–12.6
–13.3
–11.6
–2.5
–1.2
–9.2

15.3
13.2
12.6
1.5
2.9
11.2

57.1
43.7
41.9
15.0
9.3
26.9

42.7
38.1
37.3
1.8
–0.5
35.5

32.1
27.9
26.9
8.7
7.5
18.2

30.0
26.9
26.4
6.5
3.6
19.9

17.4
14.5
15.0
4.8
4.1
10.1

–1.1
–2.6
–2.2
–1.8
–2.1
–0.3

5.4

–0.6

9.2

1.8

–1.1

2.1

–5.1

4.8

3.9

7.8

5.7

8.8

–0.6

1.5

22.5
8.7

6.6
–3.8

14.6
–2.6

15.5
–4.3

3.1
–4.1

16.7
3.8

–4.2
–1.7

6.4
0.6

23.0
1.8

27.7
0.8

12.4
1.0

11.2
0.5

10.7
–0.5

–1.8
–0.4

5.0

0.7

3.0

3.1

0.9

3.2

0.8

2.1

13.3

4.7

4.2

3.2

2.8

1.5

1.7

1.4

1.4

1.4

1.6

1.7

1.5

1.9

2.3

2.1

2.0

1.9

1.8

1.7

3.4

–0.7

1.5

1.7

–0.6

1.4

–0.8

0.3

11.0

2.6

2.1

1.4

1.0

–0.3

8.9
1.4
7.6

7.0
3.8
3.2

12.9
6.2
6.6

12.3
4.1
8.3

8.0
1.7
6.3

11.4
–0.4
11.9

3.2
–0.3
3.5

4.7
–0.2
4.7

0.9
3.1
–2.1

10.5
3.1
7.5

6.0
3.1
2.8

2.1
–0.5
2.6

0.6
–0.5
1.1

–0.8
–0.5
–0.3

0.5
11.5
–2.3
13.8
1.0

1.1
9.9
–1.8
11.8
3.6

1.2
–3.9
–13.4
9.4
8.2

1.6
–6.1
–14.8
8.7
36.2

1.5
–11.0
–15.1
4.1
6.7

0.5
11.0
9.0
2.0
23.1

0.1
13.6
11.4
2.2
9.9

–0.2
28.2
12.2
16.0
16.7

15.0
5.4
1.6
3.8
–24.4

15.2
8.0
1.6
6.3
–8.3

15.4
–1.0
1.7
–2.6
7.2

–1.9
13.3
4.7
8.6
12.5

–1.3
10.1
4.7
5.5
–1.4

–1.2
12.0
4.7
7.3
9.5

0.9
0.9
2.4
–0.2
–4.9
1.0
1.8

3.4
–0.7
2.9
2.5
–4.3
0.1
2.8

8.1
5.0
3.3
5.1
–5.7
0.6
–0.2

36.5
–1.8
3.7
7.4
19.3
1.1
6.7

6.9
6.0
4.2
11.4
–12.7
–0.1
–1.7

20.9
0.2
4.7
15.8
–0.1
0.2
0.0

10.7
–0.8
5.1
10.1
–5.9
–0.6
2.8

17.0
8.9
5.5
6.0
–3.2
0.7
–1.0

–25.7
–2.8
3.6
–10.7
–3.1
1.4
–14.1

–7.1
–1.4
3.6
–5.8
–5.1
–0.4
2.1

6.7
3.7
3.2
–1.7
–1.9
1.8
1.6

12.4
8.0
2.1
4.4
–3.7
0.7
0.9

–1.3
–1.7
0.7
5.3
–7.7
–1.3
3.4

9.5
0.7
0.8
2.1
4.7
1.8
–0.5

0.2

0.1

0.1

–0.2

–0.4

2.3

–0.8

–0.3

1.3

–1.2

0.4

0.1

0.0

–0.1

6.1
13.9
57.9
22.2
25.5
–15.4
–1.7
–13.7
40.9
–3.7
0.5
0.4
0.0
35.7

–1.4
6.9
10.6
–4.3
–4.0
–11.1
–5.6
–5.5
7.1
–0.6
0.4
0.4
0.0
14.9

3.0
16.1
31.9
37.0
37.3
21.6
12.8
8.7
15.7
–2.0
1.6
0.4
1.4
–5.1

2.9
13.6
50.0
56.2
58.4
42.9
2.6
40.3
15.5
–2.5
0.3
0.3
0.0
–6.1

–0.8
9.1
–4.3
26.5
29.3
26.4
16.6
9.8
2.9
–3.1
0.3
0.2
0.0
–30.9

2.8
11.7
56.7
59.1
61.8
47.9
24.1
23.9
13.9
–1.1
–1.6
0.2
–1.8
–2.4

–1.5
4.8
11.0
39.1
40.3
15.1
–0.4
15.5
25.2
–1.4
0.1
0.2
0.0
–28.1

1.3
7.7
55.4
36.9
38.4
21.1
4.5
16.5
17.3
–1.5
0.1
0.1
0.0
18.5

–90.1
103.6
40.8
42.5
41.9
43.5
12.3
31.3
–1.6
–0.4
1.0
0.0
1.0
–1.7

5.4
13.1
49.6
79.3
79.7
57.3
22.7
34.6
22.4
–0.5
0.1
0.0
0.0
–29.7

4.2
9.9
45.5
61.2
61.5
24.1
–1.6
25.7
37.5
–0.5
0.1
0.1
0.0
–15.7

3.1
7.1
45.8
20.3
20.4
19.5
–3.1
22.6
0.8
–0.8
0.8
0.2
0.6
25.5

2.2
5.6
17.6
5.3
5.9
–23.4
–14.8
–8.6
29.3
–0.8
0.2
0.2
0.0
12.3

–0.2
2.3
16.3
–22.6
–21.9
–19.8
–4.5
–15.2
–2.1
–0.9
0.2
0.2
0.0
38.9

68.5

27.4

15.4

9.9

–12.1

20.8

–1.9

18.6

116.8

26.0

5.9

5.3

6.2

24.1

57.4

25.9

6.2

28.7

–15.5

28.9

2.1

24.1

–0.8

3.6

0.1

7.3

–1.4

31.9

p Preliminary
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
2007

2008

2009

2010

2008
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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 .............................................................................................
Disposable personal income, billions of chained (2005) dollars 4 ....................

II

III

IV

644.2
386.5
352.8
299.0
37.4
13.5
261.5
49.2
212.3
53.8
33.5
20.4
13.2

547.9
211.1
129.2
74.1
–5.7
–11.3
79.7
4.5
75.2
55.1
82.1
71.9
10.2

–530.0
–271.9
–280.6
–311.8
–144.3
–80.0
–167.3
–60.1
–107.3
31.2
8.6
20.7
–12.1

443.3
170.0
137.9
122.4
–4.2
13.3
126.5
16.4
110.2
15.5
32.0
16.8
15.2

274.2
114.7
77.1
54.0
6.8
–0.1
47.3
6.1
41.1
23.1
37.6
31.1
6.6

156.1
–25.6
–45.6
–55.8
–14.1
–8.1
–41.8
–10.4
–31.3
10.3
20.0
22.1
–2.1

–58.4
11.3
–4.3
–17.5
–16.6
–9.2
–0.9
–5.7
4.8
13.1
15.6
14.7
0.9

–173.3
–48.6
–53.2
–62.2
–24.0
–16.6
–38.2
–13.4
–24.8
9.0
4.6
7.0
–2.3

–42.6
8.5
–51.0
–2.8
227.3
137.6
89.7
113.5
104.3
31.5
28.4
25.1
2.3
2.8
14.1
9.1
37.7
136.3
507.9
515.8
471.3
139.2
33.4
105.7
332.0
30.8
13.7
6.0
7.7
–7.9

7.5
14.0
–6.5
87.9
108.4
116.9
–8.5
160.7
154.5
29.9
34.0
14.1
18.2
3.3
54.9
6.3
27.8
–53.0
600.9
257.3
263.2
17.8
–79.5
97.3
245.5
–15.3
9.3
2.5
6.9
343.6

–156.7
–12.6
–144.1
74.3
–457.7
–273.1
–184.6
258.9
257.5
59.0
32.2
35.9
79.7
6.5
44.3
1.4
–23.2
–294.3
–235.7
–195.9
–169.4
–184.2
–79.3
–105.0
14.9
–31.9
5.5
4.2
1.2
–39.7

95.2
13.0
82.2
44.3
13.5
–105.5
118.9
143.1
143.0
25.7
24.6
31.3
8.1
6.4
47.0
0.1
22.7
52.5
390.9
350.6
379.4
189.5
55.9
133.7
189.8
–40.3
11.5
6.0
5.5
40.2

24.6
14.6
9.8
23.0
85.2
57.0
28.1
45.1
42.2
16.2
15.4
–0.4
1.6
1.6
7.7
2.9
18.2
18.0
256.2
64.4
69.8
–8.9
–33.8
25.0
78.6
–8.3
3.0
–0.6
3.6
191.7

13.5
–5.2
18.8
29.6
–1.9
30.7
–32.5
137.2
137.4
5.6
4.9
7.0
1.1
0.6
118.3
–0.2
–3.2
–184.2
340.4
104.9
108.0
44.6
–16.4
60.9
63.4
–6.2
3.0
0.1
2.9
235.6

–23.2
–8.7
–14.5
25.0
–5.6
17.3
–22.9
–63.9
–64.0
6.0
6.8
2.5
20.2
0.7
–100.2
0.1
2.1
80.3
–138.8
9.0
9.3
–10.8
–40.0
29.1
20.1
–2.8
2.6
0.5
2.1
–147.8

–57.3
–2.0
–55.3
32.1
–141.5
–86.7
–54.7
37.5
37.2
4.2
8.7
1.3
13.2
0.4
9.4
0.4
–4.5
–9.3
–163.9
–302.1
–274.5
–274.7
–87.3
–187.2
0.2
–21.0
–6.6
0.8
–7.4
138.1

255.6
227.5

49.8
239.2

–742.6
–236.8

113.3
178.9

120.3
143.3

–91.1
201.1

–98.2
–234.8

–54.7
–5.8

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
2009

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 ........................................................
Social security 1 ........................................................................................
Medicare 2 ................................................................................................
Medicaid....................................................................................................
Unemployment insurance .........................................................................
Veterans’ 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 3............................................................................
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 4 .............................................................................................
Disposable personal income, billions of chained (2005) dollars 4 ....................

2010
III

IV

2011

I

II

I

II

I

II

–375.6
–226.0
–216.9
–225.9
–73.6
–42.7
–152.3
–32.2
–120.1
8.9
–9.1
0.5
–9.7

–20.3
–0.9
–2.3
–9.3
–40.4
–19.1
31.1
–12.5
43.7
7.0
1.5
0.7
0.8

–70.0
–27.3
–26.9
–28.0
–19.6
–11.5
–8.5
–6.4
–2.2
1.2
–0.5
1.8
–2.3

64.1
22.5
20.1
18.0
–3.3
7.6
21.4
0.7
20.7
2.1
2.4
2.7
–0.3

199.5
48.1
30.2
20.8
–4.1
–0.8
24.8
3.6
21.3
9.4
17.9
7.2
10.7

187.9
107.5
98.2
90.5
21.7
18.3
68.9
17.1
51.7
7.7
9.3
4.2
5.1

III
127.6
62.2
54.7
61.2
11.9
8.6
49.3
11.4
37.9
–6.4
7.5
4.4
3.1

IV
124.4
28.6
22.5
23.7
0.3
3.3
23.4
0.2
23.2
–1.3
6.0
4.8
1.2

251.9
102.3
82.8
80.3
19.3
13.0
61.0
12.5
48.5
2.5
19.5
6.2
13.3

132.5
76.9
67.0
66.0
15.5
10.5
50.5
15.3
35.2
1.0
10.0
5.7
4.3

–86.5
–7.5
–79.0
3.2
–204.5
–138.4
–66.2
120.1
119.3
38.7
9.7
19.8
29.9
3.8
17.3
0.7
–18.2
–224.8
–151.0
–81.1
–79.6
–50.7
0.8
–51.6
–28.9
–6.4
4.9
1.2
3.8
–69.8

–33.3
1.6
–34.9
20.9
–144.0
–65.2
–78.8
137.9
137.4
10.6
9.2
11.3
26.8
0.9
78.7
0.4
0.9
–77.7
57.5
–1.8
–0.1
12.9
–10.6
23.5
–13.0
–2.9
1.2
1.4
–0.2
59.2

2.4
0.8
1.7
19.6
–71.8
–56.6
–15.2
2.4
2.3
5.5
6.7
9.8
16.9
1.6
–38.2
0.2
–4.8
0.3
–70.3
131.9
129.5
102.0
40.6
61.4
27.5
–1.0
3.4
1.5
1.8
–202.1

19.2
1.9
17.1
6.6
0.3
–35.1
35.4
14.8
14.9
7.8
4.3
–5.1
3.9
1.7
2.3
–0.1
–0.6
5.8
58.2
65.9
78.9
24.4
–11.3
35.6
54.6
–16.5
3.5
1.7
1.8
–7.7

33.2
3.2
30.1
18.2
57.3
–11.9
69.2
57.2
57.5
2.9
2.9
8.6
4.1
2.0
37.1
–0.3
14.5
20.0
179.6
106.0
113.7
68.1
19.2
49.0
45.5
–11.8
4.1
1.9
2.3
73.6

43.9
1.2
42.6
5.0
31.2
–12.0
43.2
10.0
10.0
9.7
5.9
3.2
–15.4
1.5
5.1
0.0
9.7
29.0
158.9
69.8
81.1
2.0
13.7
–11.8
79.1
–13.9
2.6
1.4
1.0
89.2

31.4
12.5
19.0
3.7
–1.1
–30.2
29.0
37.3
37.3
5.6
9.9
15.4
–1.6
1.7
6.2
–0.1
5.8
37.4
90.2
87.8
91.8
46.4
15.8
30.7
45.4
–6.3
2.3
1.0
1.4
2.3

24.5
1.8
22.7
2.0
20.1
5.7
14.5
51.8
50.5
6.0
13.9
34.6
–7.1
0.4
2.6
1.4
2.6
28.1
96.3
133.8
140.5
96.9
37.2
59.7
43.6
–5.4
–1.2
0.7
–1.8
–37.5

14.1
6.0
8.1
30.2
33.7
15.1
18.6
–13.1
–13.3
3.2
12.5
–7.7
–11.2
1.9
–11.8
0.2
–84.7
122.3
129.6
153.5
154.6
108.8
29.8
79.1
45.7
–2.4
1.2
0.1
1.0
–23.8

9.7
2.1
7.7
12.1
26.0
11.1
15.0
16.7
16.8
9.1
6.1
5.5
–10.2
1.5
4.7
–0.1
9.1
22.6
109.9
83.5
84.5
32.5
–8.0
40.4
52.1
–2.1
1.1
0.5
0.6
26.3

–417.5
–96.9

–188.4
6.3

–132.5
–137.7

–15.8
–14.2

87.9
117.1

153.1
135.3

59.2
56.6

21.0
37.6

147.7
18.2

30.1
18.4

1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months)—Continues
Seasonally adjusted at monthly rates
2008
January

February

March

April

May

June

2009
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...............................................

1.0
0.4
0.2
1.1

0.6
0.4
0.3
0.9

0.6
0.3
0.2
0.7

–0.2
–0.6
–0.8
0.2

1.4
–0.1
–0.2
0.4

–0.1
0.0
–0.1
0.4

–1.0
0.0
–0.1
0.3

0.2
0.2
0.2
0.4

–0.1
0.0
–0.1
0.2

–0.5
0.0
0.0
0.2

–0.8
–0.5
–0.6
–0.1

–1.1
–1.1
–1.3
–0.3

–1.1
–1.3
–1.5
–0.2

–1.1
–0.8
–0.9
–0.3

0.3

0.7

1.5

0.0

0.2

–0.3

–0.8

–0.7

–2.0

–1.3

–2.0

–3.4

–3.1

–2.7

4.6
3.1
3.2
3.1
1.2

4.7
1.1
1.1
1.2
0.1

5.5
0.2
0.8
–0.8
0.9

5.4
–0.4
1.0
–2.7
0.7

4.6
–0.3
0.5
–1.6
10.0

3.9
0.0
0.2
–0.4
–1.1

2.7
0.3
0.9
–0.7
–6.5

3.8
–0.3
0.3
–1.2
1.0

4.9
–0.8
–0.2
–2.0
0.9

5.9
–2.9
–3.3
–2.2
0.1

2.9
–2.9
–2.8
–3.0
0.5

1.1
–3.2
–2.9
–3.8
1.9

–1.3
–3.6
–4.4
–2.0
3.4

0.4
–3.8
–3.5
–4.2
1.1

0.8
–0.4
1.2

0.3
0.7
0.5

0.3
1.0
0.5

–0.6
–0.4
–0.2

–0.1
–25.2
5.2

0.0
17.7
–1.9

0.0
–0.6
–1.0

0.3
9.7
–0.9

0.0
–1.0
0.0

0.1
–1.1
–0.4

–0.5
–1.9
–0.7

–1.0
–1.9
–1.0

–0.4
–12.0
0.3

–0.7
–2.4
–0.9

0.1
–0.4
–0.9
–0.2
0.4

–0.2
–1.2
–1.7
–0.9
0.3

0.5
1.0
–0.5
1.9
0.2

0.4
0.3
–0.1
0.5
0.4

0.4
0.5
–0.2
0.9
0.3

0.5
1.1
–0.9
2.0
0.3

–0.1
–0.3
–2.4
0.7
0.1

–0.3
–0.3
1.1
–1.0
–0.2

–0.5
–2.0
–3.6
–1.3
0.3

–1.0
–3.0
–4.6
–2.2
0.0

–1.5
–4.1
–1.1
–5.5
–0.1

–1.0
–3.0
–1.9
–3.5
–0.1

0.6
1.8
3.1
1.2
0.0

0.0
0.6
–1.0
1.4
–0.3

–0.1
0.1

0.1
0.5

–1.2
–0.5

–2.1
0.1

–1.8
–1.2

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

0.6
0.9

0.4
0.3

0.2
0.2

–0.7
–0.5

–0.4
4.8

–0.5
–2.5

–0.5
–1.6

0.2
–0.8

–0.4
–0.1

Seasonally adjusted at monthly rates
2009
March

April

May

June

July

2010

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
–0.6
–0.1

0.1
0.5
0.6
0.2

1.3
0.2
0.2
0.1

–1.2
–0.1
–0.2
0.0

–0.3
–0.3
–0.4
–0.1

0.0
0.0
0.0
0.0

0.2
–0.1
–0.1
0.0

–0.1
0.1
0.1
0.0

0.5
0.3
0.3
0.1

0.6
0.0
0.0
0.0

0.8
0.4
0.3
1.0

0.2
–0.1
–0.2
0.0

0.5
0.4
0.5
0.2

0.7
0.7
0.8
0.2

–2.0

–0.8

–0.5

–0.3

0.2

0.7

1.7
–3.2
–3.3
–3.1
1.8

3.2
–3.0
–1.0
–6.6
1.6

2.9
–1.6
–1.1
–2.7
8.1

2.6
–1.2
–1.0
–1.6
–5.2

2.4
–1.9
–2.2
–1.4
0.2

1.5
–1.1
–1.9
0.5
0.6

0.0

0.7

1.1

1.2

1.1

1.1

1.5

2.2

0.8
–0.7
–1.8
1.3
1.7

–0.2
–0.3
–1.5
1.8
–1.2

0.9
0.8
–0.2
2.6
0.5

1.8
2.0
0.4
4.6
0.9

2.5
1.2
–0.7
4.3
1.7

1.7
1.0
–0.7
3.7
0.1

0.9
0.1
–0.7
1.3
0.3

0.1
0.8
–0.3
2.4
0.1

–0.4
–2.7
–0.4

0.5
–3.6
0.5

0.2
–0.4
1.5

–0.2
–0.3
–1.3

–0.4
0.2
–0.4

0.0
0.2
0.0

–0.2
0.0
0.2

0.0
0.0
–0.2

0.2
0.5
0.5

–0.2
0.4
0.6

1.7
0.9
0.8

–0.3
0.2
0.2

0.3
0.8
0.4

0.5
0.9
0.7

–0.5
–1.2
–1.8
–0.8
–0.1

0.0
–0.1
–0.7
0.2
0.0

0.2
0.9
1.6
0.6
–0.1

0.5
1.4
0.4
1.8
0.1

0.3
0.8
1.7
0.3
0.1

1.2
3.1
6.5
1.4
0.3

–0.7
–2.4
–8.2
0.5
0.1

0.6
0.6
1.1
0.4
0.5

0.2
0.9
2.0
0.4
–0.1

0.6
0.5
0.6
0.5
0.6

0.2
0.6
–0.7
1.2
0.0

0.4
0.6
0.7
0.6
0.3

0.6
1.1
3.1
0.2
0.3

0.1
–0.5
–0.7
–0.4
0.4

0.5
0.6

0.3
0.5

0.2
0.1

0.4
0.3

0.8
0.6

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

–1.0
–0.3

–0.4
0.4

–0.3
1.4

–0.8
–1.8

–0.5
–0.5

–0.4
–0.3

–0.3
0.0

–0.2
–0.5

0.3
0.3

Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months)—Table Ends
Seasonally adjusted at monthly rates
2010
May

June

July

August

2011

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 ...............................................

0.6
0.7
0.8
0.3

0.1
–0.1
–0.1
0.0

0.4
0.4
0.5
0.2

0.5
0.3
0.3
0.2

0.0
0.0
0.0
0.1

0.5
0.3
0.3
0.2

0.1
–0.2
–0.2
0.0

0.5
0.2
0.2
0.1

1.1
0.7
0.7
0.8

0.5
0.5
0.6
0.3

0.4
0.4
0.4
0.3

0.4
0.4
0.4
0.2

0.2
0.2
0.2
0.2

0.1
0.0
0.0
0.1

0.9

0.7

1.2

1.2

0.8

1.1

0.3

0.4

0.1

1.0

0.5

0.2

0.1

–0.1

0.2
0.7
–0.2
2.0
0.0

0.3
0.6
–0.2
1.7
0.2

0.4
–0.2
–1.3
1.3
0.4

0.5
–0.4
–1.5
1.2
1.6

0.4
–0.6
–1.5
0.5
0.3

0.2
0.6
0.9
0.3
1.0

0.0
0.8
1.2
0.3
0.4

–0.1
1.6
1.2
2.1
0.7

4.2
0.3
0.2
0.5
–1.0

4.1
0.4
0.2
0.8
–0.4

4.0
–0.1
0.2
–0.3
0.3

–0.5
0.7
0.5
1.1
0.5

–0.3
0.6
0.5
0.7
–0.1

–0.3
0.7
0.5
0.9
0.4

0.6
1.2
0.5

–0.1
0.6
0.1

0.3
1.4
0.3

0.3
1.1
0.4

–0.1
0.8
0.0

0.3
1.0
0.5

–0.2
0.4
0.1

0.1
0.6
0.5

–9.1
8.3
0.4

0.6
1.0
0.4

0.5
0.7
0.4

0.3
0.5
0.4

0.2
0.4
0.2

0.0
0.2
0.1

0.3
–0.5
–0.2
–0.6
0.6

0.0
–0.3
–0.5
–0.2
0.1

0.4
0.6
1.2
0.4
0.2

0.6
1.3
0.2
1.8
0.2

0.3
0.8
1.5
0.4
0.0

0.6
1.4
2.2
1.0
0.2

0.4
0.4
0.0
0.7
0.4

0.4
0.6
0.4
0.7
0.2

0.4
1.2
1.1
1.3
0.0

0.8
1.6
2.0
1.4
0.3

0.6
0.7
–0.1
1.1
0.5

0.2
0.5
–0.3
0.9
0.0

0.1
–0.6
–1.3
–0.3
0.4

–0.2
–0.5
–0.4
–0.6
0.0

0.3
0.0

0.1
0.0

0.1
0.1

0.1
0.0

0.3
0.3

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

0.8
0.6

0.3
0.3

0.2
0.1

0.1
0.3

–0.1
–0.2

0.2
0.3

0.0
0.0

0.2
0.2

1.3
0.0

Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
Seasonally adjusted at annual rates
2007

2008

2009

2010

2008
I

II

III

IV

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........................................................................................................

5.7
5.2
5.8
2.4

4.6
2.7
2.0
5.7

–4.3
–3.4
–4.3
0.6

3.7
2.2
2.2
2.1

9.3
5.9
4.8
10.7

5.1
–1.3
–2.7
5.5

–1.8
0.6
–0.3
4.2

–5.4
–2.4
–3.2
1.2

–3.8
–1.9
12.4
12.2
12.8
7.1
4.1
10.1
5.1

0.7
61.1
5.3
9.2
–1.1
9.4
2.9
–3.6
5.8

–14.3
32.1
–21.1
–19.8
–23.6
13.8
–2.3
–20.5
–2.1

10.1
14.5
0.8
–9.5
19.9
6.7
2.4
4.6
3.6

9.3
68.0
17.1
18.5
14.7
10.7
7.7
4.8
10.0

5.0
79.1
–0.3
9.2
–14.7
34.2
–1.3
–40.0
13.1

–8.0
54.3
–1.0
5.0
–11.0
–12.6
0.9
26.0
–4.9

–19.2
63.9
–23.4
–22.3
–25.3
8.3
–1.8
–2.6
–5.8

5.1
4.3
2.9
5.1
5.5

2.7
0.5
–6.7
4.5
3.8

–1.7
–5.4
–7.1
–4.6
0.2

3.8
5.9
5.4
6.2
2.8

2.8
–1.0
–10.8
4.6
4.9

4.4
5.3
–5.5
11.2
3.9

0.4
–1.2
–13.2
5.1
1.2

–10.4
–28.2
–28.0
–28.3
0.0

2.7
2.4

0.5
2.4

–7.6
–2.3

–0.9
8.2

–1.0
–8.8

–0.6
–0.2

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

1.3
1.8

1.2
5.9

Seasonally adjusted at annual rates
2009
I

II

2010
III

IV

I

II

2011
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........................................................................................................

–11.6
–10.8
–12.7
–2.4

–0.7
0.0
–0.1
0.4

–2.3
–1.4
–1.7
–0.1

2.2
1.2
1.3
0.6

6.9
2.5
1.9
4.8

6.3
5.6
6.4
2.4

4.2
3.2
3.5
1.9

4.1
1.4
1.4
1.6

8.3
5.2
5.2
5.0

4.2
3.8
4.1
2.5

–29.2
4.9
–34.2
–35.5
–31.9
27.6
–7.2
–49.7
–5.4

–13.2
33.5
–27.7
–20.1
–40.0
30.1
0.4
–23.5
2.2

1.1
28.7
–15.8
–18.6
–10.1
0.4
–2.0
0.1
–2.6

8.5
8.6
0.1
–12.4
27.6
2.8
–0.3
2.1
2.2

14.8
24.3
14.8
–4.5
55.0
10.9
6.2
7.3
6.8

19.1
5.9
7.6
–4.6
28.5
1.8
4.0
10.5
5.9

12.8
4.3
–0.3
–11.4
17.4
6.8
2.4
13.4
3.3

9.6
2.4
4.7
2.3
8.1
9.4
1.1
9.6
3.5

5.3
38.6
8.0
6.3
10.2
–2.2
–30.0
45.7
4.7

3.6
13.3
6.0
4.5
8.0
2.9
4.1
6.8
3.9

–3.2
–6.2
0.3
–9.2
–1.7

0.0
1.7
–4.1
4.5
–0.8

5.4
13.6
17.1
12.0
1.7

3.2
3.0
–4.2
6.7
3.3

4.6
8.6
7.6
9.1
2.7

3.2
0.2
5.3
–2.0
4.8

3.7
5.7
6.0
5.5
2.7

5.6
11.9
14.4
10.8
2.6

6.1
13.1
11.0
14.1
2.7

3.2
3.7
–2.7
6.8
3.0

0.7
2.3

0.2
1.5

1.6
0.7

0.3
0.7

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

–4.3
–3.8

–2.1
0.3

–1.5
–5.4

–0.2
–0.6

1.0
4.9

1.7
5.6

Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)
2008
January

February

March

April

May

June

2009
July

August

September October

November December

January

February

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

9,310.6
3,269.8
1,233.0
2,039.4
6,040.9

9,273.1
3,226.7
1,214.3
2,014.8
6,045.5

9,283.5
3,250.4
1,208.8
2,042.0
6,032.8

9,289.3
3,251.8
1,212.6
2,040.2
6,037.2

9,287.6
3,254.9
1,213.4
2,042.6
6,032.5

9,280.5
3,251.4
1,203.3
2,047.7
6,028.8

9,226.4
3,208.1
1,174.4
2,031.1
6,017.3

9,209.8
3,212.2
1,189.2
2,023.0
5,996.6

9,151.8
3,143.5
1,148.7
1,992.2
6,005.6

9,107.5
3,103.2
1,097.6
1,996.9
6,000.2

9,084.5
3,090.1
1,091.2
1,990.3
5,989.7

9,036.1
3,052.6
1,075.2
1,968.7
5,976.6

9,071.5
3,096.8
1,108.7
1,981.5
5,970.4

9,042.6
3,090.5
1,096.8
1,986.0
5,947.9

–48.4
–37.5
–16.0
–21.6
–13.1

35.4
44.2
33.5
12.8
–6.2

–28.9
–6.3
–11.9
4.5
–22.5

0.4
1.4
3.1
0.6
–0.1

–0.3
–0.2
–1.1
0.2
–0.4

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
Personal consumption expenditures ......
Goods......................................................
Durable goods .....................................
Nondurable goods ...............................
Services...................................................

–17.2
–27.0
–11.1
–15.9
9.1

–37.5
–43.1
–18.7
–24.6
4.6

10.4
23.7
–5.5
27.2
–12.7

5.8
1.4
3.8
–1.8
4.4

–1.7
3.1
0.8
2.4
–4.7

–7.1
–3.5
–10.1
5.1
–3.7

–54.1
–43.3
–28.9
–16.6
–11.5

–16.6
4.1
14.8
–8.1
–20.7

–58.0
–68.7
–40.5
–30.8
9.0

–44.3
–40.3
–51.1
4.7
–5.4

–23.0
–13.1
–6.4
–6.6
–10.5

Percent change from preceding period in billions of chained (2005) dollars, seasonally adjusted at monthly rates
Personal consumption expenditures ......
Goods......................................................
Durable goods .....................................
Nondurable goods ...............................
Services...................................................

–0.2
–0.8
–0.9
–0.8
0.2

–0.4
–1.3
–1.5
–1.2
0.1

0.1
0.7
–0.5
1.4
–0.2

0.1
0.0
0.3
–0.1
0.1

0.0
0.1
0.1
0.1
–0.1

–0.1
–0.1
–0.8
0.3
–0.1

–0.6
–1.3
–2.4
–0.8
–0.2

–0.2
0.1
1.3
–0.4
–0.3

–0.6
–2.1
–3.4
–1.5
0.2

–0.5
–1.3
–4.5
0.2
–0.1

–0.3
–0.4
–0.6
–0.3
–0.2

–0.5
–1.2
–1.5
–1.1
–0.2

2009
March

April

May

June

July

2010
August

September October

November December

January

February

March

April

9,119.1
3,168.2
1,139.5
2,022.9
5,950.1

9,157.7
3,206.6
1,175.0
2,029.6
5,952.3

9,164.7
3,198.0
1,169.3
2,026.2
5,967.1

32.3
23.0
11.6
12.0
10.3

38.6
38.4
35.5
6.7
2.2

7.0
–8.6
–5.7
–3.4
14.8

0.4
1.2
3.1
0.3
0.0

0.1
–0.3
–0.5
–0.2
0.2

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

9,008.5
3,060.4
1,078.2
1,973.6
5,942.1

8,993.1
3,049.2
1,070.1
1,969.9
5,937.2

9,002.4
3,071.1
1,087.7
1,975.5
5,926.2

9,000.1
3,072.7
1,092.2
1,973.1
5,922.5

9,023.5
3,096.2
1,117.0
1,974.4
5,923.4

9,104.7
3,174.8
1,193.3
1,984.4
5,929.7

9,022.7
3,091.1
1,093.3
1,989.1
5,927.4

9,044.6
3,105.9
1,103.2
1,994.8
5,934.9

9,044.7
3,125.6
1,124.9
1,995.3
5,916.8

9,091.2
3,142.1
1,134.3
2,002.9
5,946.9

9,086.8
3,145.2
1,127.9
2,010.9
5,939.8

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
Personal consumption expenditures ......
Goods......................................................
Durable goods .....................................
Nondurable goods ...............................
Services...................................................

–34.1
–30.1
–18.6
–12.4
–5.8

–15.4
–11.2
–8.1
–3.7
–4.9

9.3
21.9
17.6
5.6
–11.0

–2.3
1.6
4.5
–2.4
–3.7

23.4
23.5
24.8
1.3
0.9

81.2
78.6
76.3
10.0
6.3

–82.0
–83.7
–100.0
4.7
–2.3

21.9
14.8
9.9
5.7
7.5

0.1
19.7
21.7
0.5
–18.1

46.5
16.5
9.4
7.6
30.1

–4.4
3.1
–6.4
8.0
–7.1

Percent change from preceding period in billions of chained (2005) dollars, seasonally adjusted at monthly rates
Personal consumption expenditures ......
Goods......................................................
Durable goods .....................................
Nondurable goods ...............................
Services...................................................

–0.4
–1.0
–1.7
–0.6
–0.1

–0.2
–0.4
–0.7
–0.2
–0.1

0.1
0.7
1.6
0.3
–0.2

0.0
0.0
0.4
–0.1
–0.1

0.3
0.8
2.3
0.1
0.0

0.9
2.5
6.8
0.5
0.1

–0.9
–2.6
–8.4
0.2
0.0

0.2
0.5
0.9
0.3
0.1

0.0
0.6
2.0
0.0
–0.3

0.5
0.5
0.8
0.4
0.5

0.0
0.1
–0.6
0.4
–0.1

2010
May

June

July

August

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

9,192.4
3,201.0
1,170.3
2,028.1
5,991.3

9,203.7
3,209.7
1,168.2
2,037.9
5,994.4

9,216.8
3,214.3
1,186.1
2,027.7
6,002.8

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

27.7
3.0
1.0
1.9
24.2

11.3
8.7
–2.1
9.8
3.1

13.1
4.6
17.9
–10.2
8.4

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

0.3
0.1
0.1
0.1
0.4

0.1
0.3
–0.2
0.5
0.1

0.4
0.7
1.0
0.6
0.2

2011

September October

November December

January

February

March

April

May

June p

9,399.5
3,351.0
1,284.1
2,076.2
6,055.2

9,386.8
3,347.8
1,277.4
2,078.5
6,045.7

9,376.6
3,326.5
1,259.7
2,072.6
6,055.6

9,373.4
3,324.9
1,252.3
2,076.8
6,054.0

–12.7
–3.2
–6.7
2.3
–9.5

–10.2
–21.3
–17.7
–5.9
9.9

–3.2
–1.6
–7.4
4.2
–1.6

–0.1
–0.6
–1.4
–0.3
0.2

0.0
0.0
–0.6
0.2
0.0

Billions of chained (2005) dollars, seasonally adjusted at annual rates
9,254.4
3,244.5
1,187.9
2,054.3
6,011.8

9,270.1
3,263.5
1,208.1
2,055.6
6,009.7

9,305.5
3,296.9
1,237.6
2,062.9
6,013.6

9,334.4
3,310.1
1,239.9
2,073.2
6,029.6

9,345.3
3,311.1
1,249.8
2,066.2
6,039.2

9,348.6
3,327.0
1,262.8
2,070.8
6,027.8

9,382.1
3,355.3
1,285.2
2,079.3
6,034.2

Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates
37.6
30.2
1.8
26.6
9.0

15.7
19.0
20.2
1.3
–2.1

35.4
33.4
29.5
7.3
3.9

28.9
13.2
2.3
10.3
16.0

10.9
1.0
9.9
–7.0
9.6

3.3
15.9
13.0
4.6
–11.4

33.5
28.3
22.4
8.5
6.4

17.4
–4.3
–1.1
–3.1
21.0

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

p Preliminary

0.1
0.1
1.5
–0.5
0.1

0.4
0.9
0.2
1.3
0.1

0.2
0.6
1.7
0.1
0.0

0.4
1.0
2.4
0.4
0.1

0.3
0.4
0.2
0.5
0.3

0.1
0.0
0.8
–0.3
0.2

0.0
0.5
1.0
0.2
–0.2

0.4
0.8
1.8
0.4
0.1

0.2
–0.1
–0.1
–0.1
0.3

–0.1
–0.1
–0.5
0.1
–0.2

Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
Seasonally adjusted at annual rates
2007

2008

2009

2010

2008
I

II

III

IV

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

9,262.9
3,273.5
1,232.4
2,042.9
5,990.2

9,211.7
3,192.9
1,171.8
2,019.1
6,017.0

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

208.4
94.6
58.2
37.9
114.6

–51.2
–80.6
–60.6
–23.8
26.8

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

2.3
3.0
5.0
1.9
1.9

–0.6
–2.5
–4.9
–1.2
0.4

9,037.5
3,098.0
1,108.3
1,983.4
5,935.5

9,220.9
3,230.7
1,188.3
2,041.3
5,991.8

9,289.1
3,249.0
1,218.7
2,032.1
6,039.7

9,285.8
3,252.7
1,209.8
2,043.5
6,032.9

9,196.0
3,187.9
1,170.8
2,015.4
6,006.5

9,076.0
3,082.0
1,088.0
1,985.3
5,988.8

–3.3
3.7
–8.9
11.4
–6.8

–89.8
–64.8
–39.0
–28.1
–26.4

–120.0
–105.9
–82.8
–30.1
–17.7

–0.1
0.5
–2.9
2.3
–0.5

–3.8
–7.7
–12.3
–5.4
–1.7

–5.1
–12.6
–25.4
–5.8
–1.2

Change from preceding period in billions of chained (2005) dollars
–174.2
–94.9
–63.5
–35.7
–81.5

183.4
132.7
80.0
57.9
56.3

–23.5
–46.8
–31.2
–16.9
21.9

Percent change from preceding period in chained (2005) dollars
–1.9
–3.0
–5.4
–1.8
–1.4

2.0
4.3
7.2
2.9
0.9

–1.0
–5.6
–9.6
–3.3
1.5

Seasonally adjusted at annual rates
2009
I

II

2010
III

IV

I

II

2011
III

IV

I

II

9,247.1
3,240.8
1,194.1
2,045.8
6,008.1

9,328.4
3,306.0
1,242.4
2,067.4
6,027.5

9,376.7
3,344.4
1,277.4
2,075.4
6,039.1

9,378.9
3,333.1
1,263.1
2,076.0
6,051.8

81.3
65.2
48.3
21.6
19.4

48.3
38.4
35.0
8.0
11.6

2.2
–11.3
–14.3
0.6
12.7

3.6
8.3
17.2
4.3
1.3

2.1
4.7
11.7
1.6
0.8

0.1
–1.3
–4.4
0.1
0.8

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

9,040.9
3,082.6
1,094.6
1,980.3
5,953.5

8,998.5
3,064.3
1,083.4
1,972.8
5,928.6

9,050.3
3,120.7
1,134.5
1,982.7
5,926.8

9,060.2
3,124.6
1,120.8
1,997.7
5,932.9

9,121.2
3,173.3
1,147.5
2,021.1
5,947.4

9,186.9
3,202.9
1,169.3
2,030.8
5,984.3

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

–35.1
0.6
6.6
–5.0
–35.3

–42.4
–18.3
–11.2
–7.5
–24.9

51.8
56.4
51.1
9.9
–1.8

9.9
3.9
–13.7
15.0
6.1

61.0
48.7
26.7
23.4
14.5

65.7
29.6
21.8
9.7
36.9

60.2
37.9
24.8
15.0
23.8

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

–1.5
0.1
2.4
–1.0
–2.3

–1.9
–2.3
–4.0
–1.5
–1.7

2.3
7.6
20.3
2.0
–0.1

0.4
0.5
–4.8
3.1
0.4

2.7
6.4
9.9
4.8
1.0

2.9
3.8
7.8
1.9
2.5

2.6
4.8
8.8
3.0
1.6

Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)—Continues
2008
January

February

March

April

May

June

2009
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:
PCE excluding food and energy ...
Food 1 ...........................................
Energy goods and services 2 .......
Market-based PCE 3 ....................
Market-based PCE excluding food
and energy 3 .............................

107.566
105.138
95.574
110.784
108.886

107.807
105.299
95.422
111.124
109.172

108.184
105.631
95.348
111.691
109.575

108.529
105.897
94.982
112.325
109.964

108.977
106.343
94.744
113.172
110.415

109.650
107.589
94.689
115.182
110.781

110.235
108.726
94.743
116.949
111.071

110.143
108.232
94.575
116.253
111.198

110.275
108.352
94.338
116.563
111.344

109.710
106.502
94.184
113.728
111.458

108.395
102.542
93.696
107.829
111.514

107.847
100.700
93.242
105.208
111.635

108.014
101.074
93.190
105.817
111.699

108.333
101.922
93.262
107.096
111.746

106.031
108.424
131.745
107.520

106.166
108.952
133.405
107.803

106.427
109.131
136.047
108.143

106.617
110.588
137.429
108.410

106.846
110.925
141.873
108.826

107.069
111.624
150.477
109.552

107.233
112.878
157.683
110.268

107.373
113.544
152.337
110.191

107.548
114.267
150.732
110.358

107.613
114.709
137.451
109.796

107.649
114.943
110.675
108.326

107.670
114.807
99.889
107.715

107.779
114.864
101.351
107.999

107.919
114.563
105.673
108.417

105.728

105.895

106.092

106.167

106.323

106.533

106.781

106.975

107.198

107.368

107.447

107.488

107.721

107.945

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

0.3
0.4
0.0
0.6
0.2

0.2
0.2
–0.2
0.3
0.3

0.3
0.3
–0.1
0.5
0.4

0.3
0.3
–0.4
0.6
0.4

0.4
0.4
–0.3
0.8
0.4

0.6
1.2
–0.1
1.8
0.3

0.5
1.1
0.1
1.5
0.3

–0.1
–0.5
–0.2
–0.6
0.1

0.1
0.1
–0.3
0.3
0.1

–0.5
–1.7
–0.2
–2.4
0.1

–1.2
–3.7
–0.5
–5.2
0.1

–0.5
–1.8
–0.5
–2.4
0.1

0.2
0.4
–0.1
0.6
0.1

0.3
0.8
0.1
1.2
0.0

0.2
0.9
0.6
0.4

0.1
0.5
1.3
0.3

0.2
0.2
2.0
0.3

0.2
1.3
1.0
0.2

0.2
0.3
3.2
0.4

0.2
0.6
6.1
0.7

0.2
1.1
4.8
0.7

0.1
0.6
–3.4
–0.1

0.2
0.6
–1.1
0.2

0.1
0.4
–8.8
–0.5

0.0
0.2
–19.5
–1.3

0.0
–0.1
–9.7
–0.6

0.1
0.0
1.5
0.3

0.1
–0.3
4.3
0.4

0.3

0.2

0.2

0.1

0.1

0.2

0.2

0.2

0.2

0.2

0.1

0.0

0.2

0.2

2009
March

April

May

June

July

2010
August

September

October

November December

January

February

March

April

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

108.235
101.729
93.156
106.852
111.699

108.420
102.032
93.221
107.285
111.825

108.557
102.195
93.151
107.573
111.951

109.133
103.565
93.170
109.692
112.117

109.229
103.572
92.676
109.978
112.258

109.560
104.094
92.403
110.963
112.489

109.750
104.355
92.564
111.280
112.643

110.101
104.485
92.750
111.378
113.109

110.316
104.732
92.751
111.764
113.307

110.380
104.754
92.520
111.931
113.392

110.654
105.294
92.375
112.863
113.523

110.747
105.197
92.102
112.868
113.715

110.921
105.096
92.084
112.722
114.036

110.962
104.881
91.895
112.494
114.212

108.041
114.260
102.165
108.375

108.316
113.850
101.660
108.521

108.465
113.438
102.374
108.625

108.644
113.503
110.419
109.224

108.725
113.042
111.564
109.288

108.877
113.068
115.407
109.649

109.062
112.735
116.436
109.803

109.410
112.809
117.219
110.029

109.502
112.826
119.818
110.207

109.552
112.976
119.989
110.277

109.661
113.146
123.172
110.527

109.762
113.365
122.964
110.579

109.966
113.636
122.498
110.651

110.028
113.892
121.842
110.671

108.168

108.412

108.523

108.665

108.707

108.865

109.007

109.210

109.239

109.295

109.350

109.405

109.494

109.536

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

–0.1
–0.2
–0.1
–0.2
0.0

0.2
0.3
0.1
0.4
0.1

0.1
0.2
–0.1
0.3
0.1

0.5
1.3
0.0
2.0
0.1

0.1
0.0
–0.5
0.3
0.1

0.3
0.5
–0.3
0.9
0.2

0.2
0.3
0.2
0.3
0.1

0.3
0.1
0.2
0.1
0.4

0.2
0.2
0.0
0.3
0.2

0.1
0.0
–0.2
0.1
0.1

0.2
0.5
–0.2
0.8
0.1

0.1
–0.1
–0.3
0.0
0.2

0.2
–0.1
0.0
–0.1
0.3

0.0
–0.2
–0.2
–0.2
0.2

0.1
–0.3
–3.3
0.0

0.3
–0.4
–0.5
0.1

0.1
–0.4
0.7
0.1

0.2
0.1
7.9
0.6

0.1
–0.4
1.0
0.1

0.1
0.0
3.4
0.3

0.2
–0.3
0.9
0.1

0.3
0.1
0.7
0.2

0.1
0.0
2.2
0.2

0.0
0.1
0.1
0.1

0.1
0.2
2.7
0.2

0.1
0.2
–0.2
0.0

0.2
0.2
–0.4
0.1

0.1
0.2
–0.5
0.0

0.2

0.2

0.1

0.1

0.0

0.1

0.1

0.2

0.0

0.1

0.1

0.1

0.1

0.0

1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
2. Consists of gasoline and other energy goods and of electricity and gas services.
3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households.

Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)—Table Ends
2010
May

June

July

August

2011

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:
PCE excluding food and energy ...
Food 1 ...........................................
Energy goods and services 2 .......
Market-based PCE 3 ....................
Market-based PCE excluding food
and energy 3 .............................

110.906
104.303
91.670
111.713
114.435

110.726
103.674
91.353
110.906
114.494

110.974
104.195
91.056
111.902
114.595

111.153
104.548
91.133
112.415
114.682

111.281
104.748
90.984
112.819
114.770

111.522
105.140
90.760
113.577
114.928

111.609
105.179
90.559
113.759
115.041

111.889
105.783
90.203
114.939
115.144

112.299
106.586
90.253
116.199
115.336

112.747
107.396
90.438
117.389
115.584

113.194
108.254
90.394
118.801
115.801

113.562
108.936
90.621
119.756
115.997

113.749
108.930
90.724
119.681
116.291

113.554
108.387
90.895
118.705
116.288

110.174
113.881
118.257
110.577

110.241
113.681
113.967
110.415

110.288
113.738
117.861
110.709

110.368
113.837
119.828
110.921

110.404
114.147
121.256
111.053

110.473
114.244
124.625
111.233

110.560
114.275
124.778
111.312

110.571
114.400
129.905
111.637

110.803
115.158
132.887
111.996

110.974
116.089
137.557
112.514

111.112
117.106
142.690
112.984

111.308
117.595
145.961
113.408

111.586
117.999
144.180
113.591

111.712
118.170
137.677
113.449

109.669

109.796

109.866

109.968

109.993

109.966

110.044

110.066

110.213

110.421

110.539

110.773

111.061

111.298

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

–0.1
–0.6
–0.2
–0.7
0.2

–0.2
–0.6
–0.3
–0.7
0.1

0.2
0.5
–0.3
0.9
0.1

0.2
0.3
0.1
0.5
0.1

0.1
0.2
–0.2
0.4
0.1

0.2
0.4
–0.2
0.7
0.1

0.1
0.0
–0.2
0.2
0.1

0.3
0.6
–0.4
1.0
0.1

0.4
0.8
0.1
1.1
0.2

0.4
0.8
0.2
1.0
0.2

0.4
0.8
0.0
1.2
0.2

0.3
0.6
0.3
0.8
0.2

0.2
0.0
0.1
–0.1
0.3

–0.2
–0.5
0.2
–0.8
0.0

0.1
0.0
–2.9
–0.1

0.1
–0.2
–3.6
–0.1

0.0
0.1
3.4
0.3

0.1
0.1
1.7
0.2

0.0
0.3
1.2
0.1

0.1
0.1
2.8
0.2

0.1
0.0
0.1
0.1

0.0
0.1
4.1
0.3

0.2
0.7
2.3
0.3

0.2
0.8
3.5
0.5

0.1
0.9
3.7
0.4

0.2
0.4
2.3
0.4

0.2
0.3
–1.2
0.2

0.1
0.1
–4.5
–0.1

0.1

0.1

0.1

0.1

0.0

0.0

0.1

0.0

0.1

0.2

0.1

0.2

0.3

0.2

p Preliminary
1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
2. Consists of gasoline and other energy goods and of electricity and gas services.
3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households.

Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago
2008
January
Disposable personal income.........
Personal consumption
expenditures ...............................
Goods...........................................
Durable goods ..........................
Nondurable goods ....................
Services........................................

February

March

April

May

June

2009
July

August

September

October

November December

2.6

2.0

7.0

4.4

2.5

1.5

1.0

1.0

1.6

0.5

–0.2

–1.7

1.2
0.6
1.9
–0.1
1.5

0.7
–0.5
0.5
–1.0
1.3

0.8
0.0
–0.2
0.2
1.1

0.6
0.0
–0.4
0.2
0.9

0.4
–0.6
–2.1
0.2
0.9

0.4
–0.3
–1.8
0.5
0.7

–0.4
–2.1
–4.2
–1.0
0.5

–0.9
–2.0
–4.2
–0.8
–0.3

–1.6
–4.9
–8.9
–2.7
0.2

–2.0
–5.9
–12.6
–2.4
0.0

–2.5
–6.1
–12.7
–2.7
–0.5

–3.1
–7.4
–13.6
–4.2
–0.9

–2.6
–5.3
–10.1
–2.8
–1.2

–2.5
–4.2
–9.7
–1.4
–1.6

2009
April

May

June

July

2010
August

September

October

November December

January

March

April

–1.3

–4.5

–3.8

–2.7

–2.2

–2.1

–2.6

–2.9

–1.7

–1.4

0.0

0.6

0.8

–3.0
–5.8
–10.8
–3.4
–1.5

–3.2
–6.2
–11.8
–3.4
–1.7

–3.1
–5.6
–10.4
–3.3
–1.8

–3.0
–5.5
–9.2
–3.6
–1.8

–2.2
–3.5
–4.9
–2.8
–1.6

–1.1
–1.2
0.3
–1.9
–1.1

–1.4
–1.7
–4.8
–0.2
–1.3

–0.7
0.1
0.5
–0.1
–1.1

–0.4
1.1
3.1
0.3
–1.2

0.6
2.9
5.5
1.7
–0.5

0.2
1.6
1.7
1.5
–0.5

0.8
2.5
3.9
1.9
0.0

1.7
4.8
9.0
2.8
0.2

1.9
4.9
9.3
2.9
0.5

2010

p Preliminary

February

–2.1

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

February

2.6

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

January

2.5

June

July

August

2011

September

October

November December

January

February

March

April

June p

May

0.1

2.1

2.7

3.3

3.1

3.8

3.6

3.2

2.7

2.6

2.3

1.7

1.1

1.1

2.1
4.2
7.6
2.7
1.1

2.3
4.5
7.0
3.3
1.2

2.1
3.8
6.2
2.7
1.3

1.6
2.2
–0.4
3.5
1.4

2.7
5.6
10.5
3.3
1.4

2.9
6.1
12.2
3.4
1.3

3.2
5.9
10.2
3.9
1.9

2.8
5.4
10.2
3.2
1.6

2.9
5.8
12.0
3.0
1.5

2.9
5.9
12.8
2.8
1.4

2.6
4.5
9.3
2.3
1.7

2.4
4.7
9.2
2.6
1.3

2.0
3.9
7.6
2.2
1.1

1.8
3.6
7.2
1.9
1.0

Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
2008
January
Personal consumption
expenditures (PCE) ....................
Goods...........................................
Durable goods ..........................
Nondurable goods ....................
Services........................................
Addenda:
PCE excluding food and energy ...
Food 1 ...........................................
Energy goods and services 2 .......
Market-based PCE 3 ....................
Market-based PCE excluding food
and energy 3 .............................

February

March

April

May

June

2009
July

August

September

October

November December

3.4
3.8
–1.8
7.0
3.2

3.4
3.5
–1.7
6.3
3.3

3.5
3.5
–1.8
6.4
3.4

3.6
3.4
–2.0
6.3
3.7

4.1
4.7
–2.1
8.3
3.8

4.4
5.7
–1.7
9.6
3.8

4.3
5.6
–1.5
9.3
3.6

4.0
5.2
–1.6
8.8
3.4

3.2
3.2
–1.8
5.8
3.2

1.4
–1.8
–2.2
–1.5
3.0

0.6
–3.8
–2.4
–4.5
2.8

0.4
–3.9
–2.5
–4.5
2.6

0.5
–3.2
–2.3
–3.6
2.4

2.3
5.3
21.4
3.7

2.2
4.9
20.9
3.6

2.3
4.4
18.0
3.5

2.4
5.5
17.3
3.5

2.5
5.4
17.9
3.5

2.5
5.6
25.4
4.1

2.5
6.6
31.1
4.6

2.5
6.8
28.8
4.6

2.4
7.2
24.7
4.3

2.2
7.2
13.0
3.5

2.0
7.0
–14.3
1.4

1.8
6.8
–23.7
0.5

1.6
5.9
–23.1
0.4

1.7
5.1
–20.8
0.6

2.2

2.2

2.3

2.2

2.2

2.3

2.4

2.5

2.5

2.3

2.2

2.0

1.9

1.9

March

April

May

June

July

2010
August

September

October

November December

January

February

March

April

0.0
–3.7
–2.3
–4.3
1.9

–0.1
–3.6
–1.9
–4.5
1.7

–0.4
–3.9
–1.7
–4.9
1.4

–0.5
–3.7
–1.6
–4.8
1.2

–0.9
–4.7
–2.2
–6.0
1.1

–0.5
–3.8
–2.3
–4.6
1.2

–0.5
–3.7
–1.9
–4.5
1.2

0.4
–1.9
–1.5
–2.1
1.5

1.8
2.1
–1.0
3.6
1.6

2.3
4.0
–0.8
6.4
1.6

2.4
4.2
–0.9
6.7
1.6

2.2
3.2
–1.2
5.4
1.8

2.5
3.3
–1.2
5.5
2.1

2.3
2.8
–1.4
4.9
2.1

1.5
4.7
–24.9
0.2

1.6
2.9
–26.0
0.1

1.5
2.3
–27.8
–0.2

1.5
1.7
–26.6
–0.3

1.4
0.1
–29.2
–0.9

1.4
–0.4
–24.2
–0.5

1.4
–1.3
–22.8
–0.5

1.7
–1.7
–14.7
0.2

1.7
–1.8
8.3
1.7

1.7
–1.6
20.1
2.4

1.7
–1.5
21.5
2.3

1.7
–1.0
16.4
2.0

1.8
–0.5
19.9
2.1

1.6
0.0
19.9
2.0

2.0

2.1

2.1

2.0

1.8

1.8

1.7

1.7

1.7

1.7

1.5

1.4

1.2

1.0

2010
May
Personal consumption
expenditures (PCE) ....................
Goods...........................................
Durable goods ..........................
Nondurable goods ....................
Services........................................
Addenda:
PCE excluding food and energy ...
Food 1 ...........................................
Energy goods and services 2 .......
Market-based PCE 3 ....................
Market-based PCE excluding food
and energy 3 .............................

February

3.5
4.1
–1.7
7.3
3.3

2009

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

January

June

July

August

2011

September

October

November December

January

February

March

April

June p

May

2.2
2.1
–1.6
3.8
2.2

1.5
0.1
–2.0
1.1
2.1

1.6
0.6
–1.7
1.7
2.1

1.5
0.4
–1.4
1.3
1.9

1.4
0.4
–1.7
1.4
1.9

1.3
0.6
–2.1
2.0
1.6

1.2
0.4
–2.4
1.8
1.5

1.4
1.0
–2.5
2.7
1.5

1.5
1.2
–2.3
3.0
1.6

1.8
2.1
–1.8
4.0
1.6

2.0
3.0
–1.8
5.4
1.5

2.3
3.9
–1.4
6.5
1.6

2.6
4.4
–1.0
7.1
1.6

2.6
4.5
–0.5
7.0
1.6

1.6
0.4
15.5
1.8

1.5
0.2
3.2
1.1

1.4
0.6
5.6
1.3

1.4
0.7
3.8
1.2

1.2
1.3
4.1
1.1

1.0
1.3
6.3
1.1

1.0
1.3
4.1
1.0

0.9
1.3
8.3
1.2

1.0
1.8
7.9
1.3

1.1
2.4
11.9
1.7

1.0
3.1
16.5
2.1

1.2
3.3
19.8
2.5

1.3
3.6
21.9
2.7

1.3
3.9
20.8
2.7

1.1

1.0

1.1

1.0

0.9

0.7

0.7

0.7

0.8

0.9

1.0

1.1

1.3

1.4

p Preliminary
1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
2. Consists of gasoline and other energy goods and of electricity and gas services.
3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households.

Table 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 ........................................................
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 ................................................................

Revisions to previously published
2008

2009

2010

Revisions as a percentage
of previously published

2008

2009

2010

2008

2009

12,460.2
8,073.3
6,550.9
5,406.8
1,207.7
740.9
4,199.0
1,049.7
3,149.3
1,144.1
1,522.5
1,052.4
470.1

11,930.2
7,801.4
6,270.3
5,095.0
1,063.4
660.9
4,031.7
989.6
3,042.0
1,175.3
1,531.1
1,073.1
458.0

12,373.5
7,971.4
6,408.2
5,217.4
1,059.2
674.2
4,158.2
1,006.0
3,152.2
1,190.8
1,563.1
1,089.9
473.2

69.1
7.5
–8.1
–8.3
0.1
–0.3
–8.4
–1.2
–7.3
0.1
15.7
15.8
0.0

–244.7
–5.3
–3.8
–5.5
–0.6
–0.6
–4.9
–0.9
–4.1
1.7
–1.5
1.1
–2.6

–167.5
–13.1
9.3
5.6
3.5
0.7
2.1
–1.3
3.3
3.7
–22.5
–16.9
–5.6

1,097.9
51.8
1,046.1
231.6
2,165.4
1,382.0
783.4
1,879.2
1,842.4
36.8
987.3
1,435.7
11,024.5
10,432.2
10,035.5
3,381.7
1,108.9
2,272.8
6,653.8
245.6
151.0
84.9
66.2
592.3
5.4

941.2
39.2
902.0
305.9
1,707.7
1,108.9
598.8
2,138.1
2,099.9
38.2
964.1
1,141.4
10,788.8
10,236.3
9,866.1
3,197.5
1,029.6
2,167.8
6,668.7
213.7
156.5
89.1
67.4
552.6
5.1

1,036.4
52.2
984.2
350.2
1,721.2
1,003.4
717.7
2,281.2
2,242.9
38.3
986.8
1,193.9
11,179.7
10,586.9
10,245.5
3,387.0
1,085.5
2,301.5
6,858.5
173.4
168.0
95.1
72.9
592.8
5.3

–4.1
1.0
–5.1
9.6
56.1
67.3
–11.2
0.0
–0.2
0.1
0.1
–2.5
71.6
–72.8
–69.0
2.2
25.4
–23.2
–71.2
–0.6
–3.3
–4.8
1.6
144.4
1.3

–70.7
8.7
–79.5
31.9
–212.0
–113.4
–98.6
5.3
3.1
2.2
–6.2
1.4
–246.1
–143.3
–135.2
–33.2
3.1
–36.4
–101.9
–3.1
–4.9
–5.9
0.9
–102.7
–0.8

–18.6
–0.4
–7.0
–1.8
7.3
2.0
28.5
16.3
–25.9
–0.5
–8.1
–2.6
49.3
4.3
11.6
16.4
–186.4
2.7
–11.0
–9.8
–191.5
5.1
–9.3
–16.0
5.0
–1.4
–14.1
0.7
–15.2
0.0
0.2
–0.7
–16.1
0.0
0.1
–0.7
0.9
0.3
6.1
2.4
–16.7
0.0
–0.6
–1.7
27.6
–0.2
0.1
2.4
–195.0
0.7
–2.2
–1.7
–133.8
–0.7
–1.4
–1.2
–103.6
–0.7
–1.4
–1.0
–38.7
0.1
–1.0
–1.1
–3.9
2.3
0.3
–0.4
–34.8
–1.0
–1.7
–1.5
–64.9
–1.1
–1.5
–0.9
–25.5
–0.2
–1.4
–12.8
–4.7
–2.1
–3.0
–2.7
–5.7
–5.4
–6.2
–5.7
1.0
2.5
1.4
1.4
–61.1 .................... ..................... ....................
–0.4 .................... ..................... ....................

9,712.3

8,969.7

9,083.0

73.8

–221.4

–136.6

0.8

–2.4

–1.5

10,119.5

9,882.7

10,061.6

76.6

–217.1

–175.0

0.8

–2.1

–1.7

36,166
33,197
304,831

35,088
32,141
307,483

36,051
32,446
310,106

235
251
0

–800
–706
0

–629
–564
0

0.7
0.8
0.0

–2.2
–2.1
0.0

–1.7
–1.7
0.0

0.6
0.1
–0.1
–0.2
0.0
0.0
–0.2
–0.1
–0.2
0.0
1.0
1.5
0.0

–2.0
–0.1
–0.1
–0.1
–0.1
–0.1
–0.1
–0.1
–0.1
0.1
–0.1
0.1
–0.6

2010
–1.3
–0.2
0.1
0.1
0.3
0.1
0.1
–0.1
0.1
0.3
–1.4
–1.5
–1.2

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.
NOTE. Comparisons of the revised estimates for components of government social benefits to persons with previously published estimates are not shown because the composition of these components changed as part of the new
classifications adopted for government social benefits to persons, which are shown in tables 1 through 4.

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

February

March

April

May

June

2009
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 .............

119.0
30.8
125.3
32.1

68.9
36.0
58.4
29.5

70.4
55.2
55.0
47.4

–28.9
–12.7
–22.5
7.2

180.0
185.6
569.4
578.6

–14.7
2.0
–218.5
–209.0

–124.1
–114.4
–116.6
–123.5

30.3
52.9
–100.1
–90.1

–14.2
6.3
1.3
16.4

–57.7
–33.9
–42.1
–19.4

–103.8
–58.9
–76.8
–34.0

–140.9
–118.4
–114.4
–90.7

–135.8
–97.5
31.6
70.9

–130.5
–88.0
–100.7
–56.2

11.3
13.4

–17.3
–10.1

46.6
52.7

37.7
41.3

40.2
36.9

54.5
58.8

–5.2
–3.9

–27.2
–20.9

–51.3
–44.1

–100.3
–80.9

–145.2
–124.1

–102.2
–104.2

53.7
64.4

–2.3
10.6

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

3.7
2.4

4.4
2.8

4.5
2.8

3.9
2.5

8.3
7.1

6.1
4.8

5.1
3.8

4.5
3.2

5.0
3.8

5.7
4.5

6.5
5.4

6.5
5.7

6.2
5.6

5.4
5.0

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

1.0
0.3

0.6
0.3

0.6
0.4

–0.2
–0.1

1.4
1.5

–0.1
0.0

–1.0
–0.9

0.2
0.4

–0.1
0.1

–0.5
–0.3

–0.8
–0.5

–1.1
–1.0

–1.1
–0.8

–1.1
–0.7

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

1.2
0.3

0.5
0.3

0.5
0.4

–0.2
0.1

5.2
5.4

–1.9
–1.8

–1.0
–1.1

–0.9
–0.8

0.0
0.1

–0.4
–0.2

–0.7
–0.3

–1.0
–0.8

0.3
0.7

–0.9
–0.5

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

0.1
0.1

–0.2
–0.1

0.5
0.5

0.4
0.4

0.4
0.4

0.5
0.6

–0.1
0.0

–0.3
–0.2

–0.5
–0.4

–1.0
–0.8

–1.5
–1.2

–1.0
–1.0

0.6
0.7

0.0
0.1

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

0.9
0.0

0.3
0.1

0.2
0.0

–0.5
–0.2

4.8
4.9

–2.5
–2.5

–1.6
–1.6

–0.8
–0.7

–0.1
0.0

0.1
0.4

0.5
0.9

–0.5
–0.4

0.1
0.5

–1.2
–0.8

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

–0.2
–0.2

–0.4
–0.3

0.1
0.1

0.1
0.1

0.0
–0.1

–0.1
–0.1

–0.6
–0.6

–0.2
–0.1

–0.6
–0.5

–0.5
–0.2

–0.3
–0.1

–0.5
–0.6

0.4
0.5

–0.3
–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

2009
March

April

May

June

July

2010
August

September

October

November December

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

–73.0
–24.9
–40.6
14.7

15.0
63.2
57.3
118.2

156.7
200.3
160.9
211.1

–142.7
–121.8
–139.6
–116.7

–38.7
–40.7
–40.8
–47.4

6.0
25.5
3.6
17.3

22.9
–4.1
22.9
–2.0

–16.5
9.0
–16.7
10.1

57.8
58.7
52.6
58.1

74.2
63.3
70.0
64.3

92.8
23.6
82.1
7.3

28.0
12.9
25.3
12.4

58.1
52.2
49.3
48.5

86.1
89.1
75.5
82.9

–45.7
–44.7

–0.2
4.0

22.3
16.5

49.4
55.2

34.1
20.7

118.8
119.0

–72.6
–65.1

55.7
61.0

19.5
30.2

57.1
40.2

20.0
14.4

44.2
47.1

58.8
49.8

11.5
–4.5

5.4
5.6

5.9
6.6

7.1
8.2

5.5
6.7

4.8
6.1

3.7
5.1

4.6
5.7

4.0
5.3

4.3
5.6

4.5
5.8

5.0
5.7

4.8
5.4

4.8
5.3

5.4
6.0

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

–0.6
–0.2

0.1
0.5

1.3
1.7

–1.2
–1.0

–0.3
–0.3

0.0
0.2

0.2
0.0

–0.1
0.1

0.5
0.5

0.6
0.5

0.8
0.2

0.2
0.1

0.5
0.4

0.7
0.7

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

–0.4
0.1

0.5
1.1

1.5
1.9

–1.3
–1.0

–0.4
–0.4

0.0
0.2

0.2
0.0

–0.2
0.1

0.5
0.5

0.6
0.6

0.8
0.1

0.2
0.1

0.4
0.4

0.7
0.7

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

–0.5
–0.5

0.0
0.0

0.2
0.2

0.5
0.6

0.3
0.2

1.2
1.2

–0.7
–0.6

0.6
0.6

0.2
0.3

0.6
0.4

0.2
0.1

0.4
0.5

0.6
0.5

0.1
0.0

Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates
Real disposable personal income
Previously published.................

–0.3
0.2

0.4
0.9

1.4
1.8

–1.8
–1.6

–0.5
–0.5

–0.3
–0.1

0.0
–0.2

–0.5
–0.2

0.3
0.3

0.6
0.4

0.5
–0.2

0.1
0.1

0.3
0.3

0.6
0.8

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

–0.4
–0.4

–0.2
–0.1

0.1
0.0

0.0
0.0

0.3
0.1

0.9
0.9

–0.9
–0.8

0.2
0.3

0.0
0.1

0.5
0.2

0.0
–0.1

0.4
0.4

0.4
0.3

0.1
0.0

Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)—Table Ends
2010
May

June

July

August

2011

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 .............

71.9
54.3
57.9
46.0

17.4
7.2
10.6
7.0

48.0
18.8
31.9
0.2

63.6
56.5
50.0
48.2

4.9
–3.0
–4.3
–9.1

68.3
53.4
56.7
39.9

15.8
25.6
11.0
22.4

63.2
54.5
55.4
46.9

144.2
137.2
40.8
53.6

62.8
49.9
49.6
40.1

55.4
56.5
45.5
49.0

52.9
37.7
45.8
27.9

23.2
36.2
17.6
29.2

25.5
16.9

–4.0
–3.3

37.3
33.3

58.4
51.1

29.3
30.4

61.8
73.9

40.3
33.9

38.4
40.7

41.9
42.0

79.7
83.0

61.5
64.3

20.4
28.8

5.9
4.6

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

5.6
6.2

5.8
6.3

5.7
6.1

5.6
6.1

5.4
5.8

5.3
5.4

5.1
5.3

5.2
5.4

5.2
5.4

4.9
5.0

4.7
4.9

4.9
4.9

5.0
5.0

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

0.6
0.4

0.1
0.1

0.4
0.2

0.5
0.4

0.0
0.0

0.5
0.4

0.1
0.2

0.5
0.4

1.1
1.1

0.5
0.4

0.4
0.4

0.4
0.3

0.2
0.3

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

0.5
0.4

0.1
0.1

0.3
0.0

0.4
0.4

0.0
–0.1

0.5
0.3

0.1
0.2

0.5
0.4

0.4
0.5

0.4
0.3

0.4
0.4

0.4
0.2

0.2
0.2

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

0.3
0.2

0.0
0.0

0.4
0.3

0.6
0.5

0.3
0.3

0.6
0.7

0.4
0.3

0.4
0.4

0.4
0.4

0.8
0.8

0.6
0.6

0.2
0.3

0.1
0.0

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

0.6
0.5

0.3
0.2

0.1
–0.2

0.3
0.3

–0.2
–0.1

0.3
0.1

0.0
0.1

0.2
0.2

0.0
0.1

0.0
–0.1

0.0
0.0

0.1
–0.1

0.0
0.1

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

0.3
0.3

0.1
0.1

0.1
0.1

0.4
0.3

0.2
0.2

0.4
0.5

0.3
0.3

0.1
0.1

0.0
0.0

0.4
0.4

0.2
0.2

–0.1
–0.1

–0.1
–0.1

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
2008

2009

2010

2008
I

II

2009
III

IV

I

II

2010
III

IV

I

II

2011
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 ...........................................

547.9
478.8
600.9
529.3
263.2
298.2

–530.0
–216.2
–235.7
82.0
–169.4
–103.2

443.3
366.1
390.9
339.8
379.4
347.8

274.2
159.0
256.2
141.2
69.8
77.3

156.1
160.5
340.4
364.6
108.0
117.3

–58.4
–13.9
–138.8
–124.5
9.3
19.0

–173.3
–90.7
–163.9
–91.4
–274.5
–234.8

–375.6
–263.1
–151.0
–33.5
–79.6
–54.2

–20.3
110.2
57.5
211.1
–0.1
7.1

–70.0
–39.4
–70.3
–43.9
129.5
120.6

64.1
75.0
58.2
74.7
78.9
90.8

199.5
111.3
179.6
93.9
113.7
99.3

187.9
166.8
158.9
152.4
81.1
54.6

127.6
78.4
90.2
49.3
91.8
80.9

124.4
105.4
96.3
80.5
140.5
147.3

251.9
234.2
129.6
135.4
154.6
157.3

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

5.4
4.1

5.1
5.9

5.3
5.7

4.2
2.7

6.2
4.8

4.9
3.6

6.2
5.2

5.7
5.4

6.2
7.2

4.4
5.6

4.3
5.5

4.9
5.5

5.6
6.2

5.6
6.0

5.2
5.4

4.9
5.1

Percent change from preceding period for current-dollar measures
Personal income.........................................................
Previously published...............................................

4.6
4.0

–4.3
–1.7

3.7
3.0

9.3
5.3

5.1
5.3

–1.8
–0.4

–5.4
–2.9

–11.6
–8.2

–0.7
3.7

–2.3
–1.3

2.2
2.5

6.9
3.7

6.3
5.5

4.2
2.5

4.1
3.4

8.3
7.6

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

5.8
5.1

–2.1
0.7

3.6
3.1

10.0
5.4

13.1
14.3

–4.9
–4.4

–5.8
–3.3

–5.4
–1.2

2.2
8.0

–2.6
–1.6

2.2
2.7

6.8
3.4

5.9
5.5

3.3
1.7

3.5
2.8

4.7
4.8

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

2.7
3.0

–1.7
–1.0

3.8
3.5

2.8
3.1

4.4
4.7

0.4
0.7

–10.4
–8.9

–3.2
–2.2

0.0
0.3

5.4
5.0

3.2
3.7

4.6
4.0

3.2
2.1

3.7
3.2

5.6
5.8

6.1
6.1

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

2.4
1.7

–2.3
0.6

1.8
1.4

5.9
1.4

8.2
9.2

–8.8
–8.4

–0.2
2.7

–3.8
0.4

0.3
5.9

–5.4
–4.4

–0.6
0.0

4.9
1.3

5.6
5.6

2.3
1.0

1.5
1.1

0.7
0.9

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

–0.6
–0.3

–1.9
–1.2

2.0
1.7

–1.0
–0.8

–0.1
0.1

–3.8
–3.5

–5.1
–3.3

–1.5
–0.5

–1.9
–1.6

2.3
2.0

0.4
0.9

2.7
1.9

2.9
2.2

2.6
2.4

3.6
4.0

2.1
2.2