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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, MONDAY, APRIL 29, 2013 BEA 13-19 Brian Smith: (202) 606-5301 Harvey Davis: (202) 606-5302 (Personal Income) (Personal Consumption Expenditures) piniwd@bea.gov pce@bea.gov PERSONAL INCOME AND OUTLAYS: MARCH 2013 Personal income increased $30.9 billion, or 0.2 percent, and disposable personal income (DPI) increased $20.7 billion, or 0.2 percent, in March, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $21.0 billion, or 0.2 percent. In February, personal income increased $151.2 billion, or 1.1 percent, DPI increased $134.0 billion, or 1.1 percent, and PCE increased $81.6 billion, or 0.7 percent, based on revised estimates. Real disposable income increased 0.3 percent in March, compared with an increase of 0.7 percent in February. Real PCE increased 0.3 percent in March, the same as in February. 2012 2013 Nov. Dec. Jan. Feb. (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 Mar. 1.1 2.6 -3.6 1.1 0.2 1.0 1.2 2.7 2.7 -4.0 -4.0 1.1 0.7 0.2 0.3 0.3 0.5 0.2 0.2 0.3 0.2 0.7 0.3 0.2 0.3 ________________________ 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. -more- -2- Wages and salaries Private wage and salary disbursements increased $14.9 billion in March, compared with an increase of $44.6 billion in February. The March, February, and January levels of private wages and salaries were reduced by $15.0 billion (at an annual rate), reflecting the impact of accelerated bonuses in November and in December of 2012 in anticipation of changes to individual income tax rates. Goods-producing industries' payrolls decreased $0.1 billion in March, in contrast to an increase of $15.1 billion in February; manufacturing payrolls decreased $0.3 billion, in contrast to an increase of $9.8 billion. Services-producing industries' payrolls increased $15.0 billion, compared with an increase of $29.5 billion. Government wage and salary disbursements increased $0.4 billion, compared with an increase of $1.7 billion. Other personal income Supplements to wages and salaries increased $3.2 billion in March, compared with an increase of $5.7 billion in February. Proprietors' income increased $8.8 billion in March, compared with an increase of $17.1 billion in February. Farm proprietors' income increased $6.3 billion in March, the same increase as in February. Nonfarm proprietors' income increased $2.5 billion in March, compared with an increase of $10.8 billion in February. Rental income of persons increased $9.5 billion in March, compared with an increase of $9.1 billion in February. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $7.3 billion, in contrast to an increase of $68.2 billion. The February change in personal dividend income reflected a rebound from January. The level of personal dividend income was reduced by $81.0 billion in January, resulting from accelerated and special dividend distributions paid in November and in December. Personal current transfer receipts increased $3.7 billion, compared with an increase of $11.3 billion. Contributions for government social insurance -- a subtraction in calculating personal income -increased $2.4 billion in March, compared with an increase of $6.4 billion in February. -more- -3- Personal current taxes and disposable personal income Personal current taxes increased $10.2 billion in March, compared with an increase of $17.1 billion in February. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $20.7 billion, or 0.2 percent, in March, compared with an increase of $134.0 billion, or 1.1 percent in February. The February and January changes in disposable personal income (DPI) mainly reflected the effect of special factors in January, such as the expiration of the “payroll tax holiday” and the acceleration of bonuses and personal dividends to November and to December in anticipation of changes in individual tax rates. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $22.6 billion in March, compared with an increase of $83.1 billion in February. PCE increased $21.0 billion, compared with an increase of $81.6 billion. Personal saving -- DPI less personal outlays -- was $329.1 billion in March, compared with $330.9 billion in February. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 2.7 percent in March, the same as in February. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp. Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in March, compared with an increase of 0.7 percent in February. Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in March, the same increase as in February. Purchases of durable goods decreased less than 0.1 percent in March, in contrast to an increase of 0.3 percent in March. Purchases of nondurable goods decreased 0.4 percent, in contrast to an increase of 0.2 percent. Purchases of services increased 0.6 percent, compared with an increase of 0.4 percent. PCE price index -- The price index for PCE decreased 0.1 percent in March, in contrast to an increase of 0.4 percent in February. The PCE price index, excluding food and energy, increased less than 0.1 percent, compared with an increase of 0.1 percent. -more- -4- Revisions Estimates have been revised for January and February. Changes in personal income, currentdollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for January and February -- revised and as published in last month's release -- are shown below. Change from preceding month January Previous Revised (Billions of dollars) February Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) Personal Income: Current dollars -513.5 -507.2 -3.7 -3.6 143.2 151.2 1.1 1.1 Disposable personal income: Current dollars Chained (2005) dollars -498.3 -431.8 -493.7 -429.5 -4.0 -4.0 -4.0 -4.0 127.8 69.6 134.0 74.5 1.1 0.7 1.1 0.7 Personal consumption expenditures: Current dollars 40.8 Chained (2005) dollars 31.6 28.6 19.7 0.4 0.3 0.3 0.2 77.2 28.4 81.6 31.6 0.7 0.3 0.7 0.3 Comprehensive Revision of the National Income and Product Accounts As part of the 14th comprehensive (or benchmark) revision of the national income and product accounts (NIPAs), revised estimates of personal income and outlays will be released in conjunction with preliminary estimates for June 2013 on August 2, 2013. More information on the revision is available on BEA’s Web site at www.bea.gov/gdp-revisions, including a link to an article in the March 2013 issue of the Survey of Current Business that discusses the upcoming changes in definitions and presentations, including capitalizing spending on research and development and on entertainment originals and measuring transactions of defined benefit pension plans on an accrual accounting basis. An article in the May Survey will describe changes in statistical methods, and an article in the September Survey will describe the results of the revision in detail. Revised NIPA table stubs and press release stubs will be available in June. 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 – May 31, 2013 at 8:30 A.M. EDT for Personal Income and Outlays for April -more- Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 1 Personal income....................................................................................... 2 Compensation of employees, received............................................... 3 Wage and salary disbursements ...................................................... 4 Private industries .............................................................................. 5 Goods-producing industries .......................................................... 6 Manufacturing ............................................................................ 7 Services-producing industries....................................................... 8 Trade, transportation, and utilities .............................................. 9 Other services-producing industries .......................................... 10 Government...................................................................................... 11 Supplements to wages and salaries ................................................ 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................. 14 Proprietors’ income with inventory valuation and capital consumption adjustments ................................................................ 15 Farm..................................................................................................... 16 Nonfarm ............................................................................................... 17 Rental income of persons with capital consumption adjustment.... 18 Personal income receipts on assets ................................................... 19 Personal interest income ..................................................................... 20 Personal dividend income.................................................................... 21 Personal current transfer receipts....................................................... 22 Government social benefits to persons................................................ 23 Social security 1 ................................................................................ 24 Medicare 2 ........................................................................................ 25 Medicaid ........................................................................................... 26 Unemployment insurance................................................................. 27 Veterans’ benefits ............................................................................. 28 Other................................................................................................. 29 Other current transfer receipts, from business (net) ............................ 30 Less: Contributions for government social insurance, domestic .... 31 Less: Personal current taxes .................................................................. 32 Equals: Disposable personal income..................................................... 33 Less: Personal outlays ............................................................................ 34 Personal consumption expenditures ....................................................... 35 Goods .................................................................................................. 36 Durable goods .................................................................................. 37 Nondurable goods ............................................................................ 38 Services ............................................................................................... 39 Personal interest payments 3 .................................................................. 40 Personal current transfer payments ........................................................ 41 To government ..................................................................................... 42 To the rest of the world (net) ................................................................ 43 Equals: Personal saving .......................................................................... 44 Personal saving as a percentage of disposable personal income ... Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4..................................................................... Disposable personal income: 46 Total, billions of chained (2005) dollars 4 ............................................. Per capita: 47 Current dollars .................................................................................. 48 Chained (2005) dollars ..................................................................... 49 Population (midperiod, thousands) 5 ....................................................... 2012 2013 Line Aug. Sept. Oct. Nov. Dec. Jan. r Feb. r March p 13,395.7 8,572.1 6,883.4 5,679.5 1,158.2 744.0 4,521.2 1,104.9 3,416.3 1,203.9 1,688.7 1,176.3 512.4 13,446.0 8,603.2 6,909.7 5,704.5 1,160.3 743.6 4,544.2 1,109.9 3,434.3 1,205.2 1,693.5 1,179.3 514.2 13,452.4 8,588.7 6,893.4 5,690.1 1,154.3 740.1 4,535.8 1,109.4 3,426.4 1,203.4 1,695.2 1,182.2 513.1 13,597.6 8,670.3 6,967.1 5,763.7 1,165.3 746.5 4,598.4 1,124.2 3,474.2 1,203.4 1,703.3 1,185.0 518.3 13,955.5 8,727.4 7,017.3 5,813.0 1,175.6 753.3 4,637.4 1,127.6 3,509.9 1,204.4 1,710.0 1,188.0 522.0 13,448.3 8,693.4 6,977.6 5,772.2 1,171.4 749.8 4,600.8 1,129.6 3,471.2 1,205.4 1,715.8 1,190.8 525.0 13,599.5 8,745.3 7,023.8 5,816.8 1,186.5 759.6 4,630.3 1,136.8 3,493.5 1,207.1 1,721.5 1,193.3 528.2 13,630.4 8,763.9 7,039.2 5,831.7 1,186.4 759.3 4,645.3 1,140.3 3,505.0 1,207.5 1,724.7 1,195.3 529.4 1 2 3 4 5 6 7 8 9 10 11 12 13 1,203.6 59.4 1,144.2 470.9 1,713.8 975.3 738.5 2,383.3 2,337.2 759.7 566.4 425.2 74.4 74.7 436.8 46.1 948.0 1,475.4 11,920.3 11,477.4 11,137.2 3,785.8 1,214.3 2,571.5 7,351.4 171.6 168.6 92.1 76.6 442.8 3.7 1,214.8 62.6 1,152.2 479.9 1,701.7 957.1 744.6 2,397.6 2,351.3 773.6 568.0 425.7 72.4 73.6 438.1 46.3 951.1 1,481.3 11,964.7 11,566.4 11,223.4 3,850.2 1,239.5 2,610.7 7,373.3 174.1 168.8 92.3 76.6 398.3 3.3 1,216.0 61.6 1,154.4 480.1 1,728.1 977.2 750.9 2,389.1 2,342.7 763.3 566.9 425.1 70.7 75.1 441.7 46.4 949.5 1,487.6 11,964.8 11,562.7 11,219.9 3,834.6 1,225.4 2,609.1 7,385.3 173.4 169.5 92.3 77.1 402.2 3.4 1,225.9 60.7 1,165.3 481.9 1,783.3 997.2 786.1 2,394.7 2,348.2 768.0 567.5 425.4 71.7 74.4 441.1 46.6 958.5 1,508.1 12,089.5 11,597.1 11,255.1 3,843.2 1,259.3 2,583.9 7,411.9 172.6 169.4 92.3 77.1 492.4 4.1 1,232.1 59.7 1,172.4 482.5 2,064.6 1,017.2 1,047.4 2,413.7 2,367.0 781.7 572.9 425.8 69.8 74.5 442.3 46.7 964.9 1,536.7 12,418.8 11,615.2 11,273.9 3,850.5 1,271.3 2,579.2 7,423.4 171.9 169.4 92.2 77.1 803.6 6.5 1,243.8 66.0 1,177.8 490.3 1,690.3 1,005.4 684.9 2,422.5 2,375.5 785.0 576.8 425.0 66.9 77.3 444.6 47.0 1,092.0 1,523.2 11,925.1 11,645.1 11,302.5 3,846.8 1,272.8 2,574.0 7,455.7 173.5 169.1 92.1 77.0 280.0 2.3 1,260.9 72.3 1,188.6 499.4 1,758.5 993.5 765.0 2,433.8 2,386.7 789.3 581.8 426.6 65.1 79.5 444.2 47.2 1,098.4 1,540.3 12,059.1 11,728.2 11,384.1 3,890.5 1,274.9 2,615.5 7,493.6 175.1 169.0 92.1 77.0 330.9 2.7 1,269.7 78.6 1,191.1 508.9 1,751.2 981.7 769.5 2,437.5 2,390.2 795.7 582.7 427.8 60.9 78.5 444.6 47.3 1,100.8 1,550.5 12,079.8 11,750.8 11,405.1 3,857.7 1,271.9 2,585.7 7,547.4 176.7 169.0 92.0 77.0 329.1 2.7 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 9,496.6 9,497.4 9,495.1 9,628.1 9,919.2 9,471.0 9,553.4 9,589.3 45 10,279.6 10,285.1 10,268.9 10,390.1 10,672.9 10,243.4 10,317.9 10,349.2 46 37,895 32,679 314,562 38,010 32,674 314,777 37,986 32,602 314,981 38,359 32,967 315,165 39,382 33,846 315,341 37,797 32,467 315,507 38,202 32,686 315,668 38,247 47 32,767 48 315,839 49 p Preliminary r Revised 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2011 2012 2011 IV 1 Personal income....................................................................................... 2 Compensation of employees, received............................................... 3 Wage and salary disbursements ...................................................... 4 Private industries .............................................................................. 5 Goods-producing industries .......................................................... 6 Manufacturing ............................................................................ 7 Services-producing industries....................................................... 8 Trade, transportation, and utilities .............................................. 9 Other services-producing industries .......................................... 10 Government...................................................................................... 11 Supplements to wages and salaries ................................................ 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................. 14 Proprietors’ income with inventory valuation and capital consumption adjustments ................................................................ 15 Farm..................................................................................................... 16 Nonfarm ............................................................................................... 17 Rental income of persons with capital consumption adjustment.... 18 Personal income receipts on assets ................................................... 19 Personal interest income ..................................................................... 20 Personal dividend income.................................................................... 21 Personal current transfer receipts....................................................... 22 Government social benefits to persons................................................ 23 Social security 1 ................................................................................ 24 Medicare 2 ........................................................................................ 25 Medicaid ........................................................................................... 26 Unemployment insurance................................................................. 27 Veterans’ benefits ............................................................................. 28 Other................................................................................................. 29 Other current transfer receipts, from business (net) ............................ 30 Less: Contributions for government social insurance, domestic .... 31 Less: Personal current taxes .................................................................. 32 Equals: Disposable personal income..................................................... 33 Less: Personal outlays ............................................................................ 34 Personal consumption expenditures ....................................................... 35 Goods .................................................................................................. 36 Durable goods .................................................................................. 37 Nondurable goods ............................................................................ 38 Services ............................................................................................... 39 Personal interest payments 3 .................................................................. 40 Personal current transfer payments ........................................................ 41 To government ..................................................................................... 42 To the rest of the world (net) ................................................................ 43 Equals: Personal saving .......................................................................... 44 Personal saving as a percentage of disposable personal income ... Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4..................................................................... Disposable personal income: 46 Total, billions of chained (2005) dollars 4 ............................................. Per capita: 47 Current dollars .................................................................................. 48 Chained (2005) dollars ..................................................................... 49 Population (midperiod, thousands) 5 ....................................................... 2012 I II 2013 III IV Line I 12,947.3 8,295.2 6,661.3 5,466.0 1,108.6 706.6 4,357.4 1,050.1 3,307.3 1,195.3 1,633.9 1,139.0 494.9 13,407.2 8,565.8 6,880.7 5,679.2 1,158.3 740.0 4,521.0 1,101.8 3,419.2 1,201.5 1,685.1 1,172.1 512.9 13,017.4 8,340.1 6,692.4 5,499.9 1,107.4 701.0 4,392.5 1,056.6 3,335.9 1,192.5 1,647.7 1,151.5 496.2 13,227.1 8,495.7 6,825.9 5,626.8 1,144.0 723.1 4,482.7 1,083.3 3,399.4 1,199.1 1,669.8 1,159.6 510.2 13,327.0 8,527.7 6,849.2 5,649.4 1,161.8 744.3 4,487.6 1,098.4 3,389.2 1,199.8 1,678.5 1,167.7 510.8 13,406.2 8,577.6 6,888.5 5,685.3 1,162.1 746.2 4,523.1 1,105.2 3,417.9 1,203.3 1,689.1 1,176.2 512.9 13,668.5 8,662.1 6,959.3 5,755.6 1,165.1 746.6 4,590.5 1,120.4 3,470.2 1,203.7 1,702.8 1,185.1 517.8 13,559.4 8,734.2 7,013.5 5,806.9 1,181.4 756.3 4,625.5 1,135.6 3,489.9 1,206.6 1,720.7 1,193.1 527.5 1 2 3 4 5 6 7 8 9 10 11 12 13 1,157.3 54.6 1,102.8 409.7 1,685.1 1,008.8 676.3 2,319.2 2,274.3 713.3 545.1 403.9 108.0 63.3 440.8 44.9 919.3 1,398.0 11,549.3 11,059.9 10,729.0 3,624.8 1,146.4 2,478.4 7,104.2 168.0 162.8 88.9 73.9 489.4 4.2 1,202.3 56.2 1,146.1 462.6 1,749.7 992.6 757.0 2,375.1 2,329.2 762.2 562.0 415.3 80.9 72.3 436.5 45.9 948.3 1,475.8 11,931.4 11,460.3 11,119.6 3,783.2 1,218.9 2,564.2 7,336.5 172.7 168.0 91.5 76.4 471.1 3.9 1,165.3 54.4 1,110.9 430.3 1,684.6 988.0 696.6 2,319.9 2,276.0 721.9 553.1 392.0 100.9 64.7 443.5 43.9 922.8 1,419.1 11,598.3 11,205.6 10,873.8 3,690.0 1,175.1 2,515.0 7,183.8 167.0 164.8 89.8 75.1 392.7 3.4 1,184.3 52.3 1,132.1 445.3 1,696.4 991.8 704.6 2,348.0 2,302.7 753.2 555.9 397.6 94.2 68.8 433.0 45.3 942.6 1,450.8 11,776.4 11,348.7 11,007.2 3,755.9 1,204.6 2,551.3 7,251.3 175.4 166.1 90.5 75.5 427.7 3.6 1,194.9 52.5 1,142.4 452.8 1,730.8 1,006.1 724.6 2,365.2 2,319.5 759.4 556.9 413.9 83.8 71.5 433.9 45.8 944.4 1,465.2 11,861.8 11,406.1 11,067.2 3,741.5 1,200.3 2,541.2 7,325.7 171.2 167.7 91.3 76.4 455.7 3.8 1,205.4 59.4 1,146.0 471.0 1,712.8 975.3 737.5 2,388.0 2,341.8 765.1 566.2 424.2 74.9 74.0 437.4 46.1 948.7 1,476.5 11,929.7 11,494.7 11,154.4 3,792.5 1,218.9 2,573.6 7,361.9 171.6 168.6 92.0 76.6 435.1 3.6 1,224.7 60.7 1,164.0 481.5 1,858.7 997.2 861.5 2,399.2 2,352.6 771.0 569.1 425.4 70.7 74.7 441.7 46.6 957.6 1,510.8 12,157.7 11,591.7 11,249.6 3,842.8 1,252.0 2,590.8 7,406.9 172.6 169.4 92.3 77.1 566.0 4.7 1,258.1 72.3 1,185.8 499.5 1,733.3 993.5 739.8 2,431.3 2,384.1 790.0 580.4 426.5 64.3 78.5 444.5 47.2 1,097.1 1,538.0 12,021.4 11,708.0 11,363.9 3,865.0 1,273.2 2,591.8 7,498.9 175.1 169.0 92.0 77.0 313.3 2.6 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 9,340.0 9,527.8 9,335.4 9,435.7 9,491.3 9,502.6 9,680.8 9,537.9 45 10,149.7 10,304.4 10,121.5 10,213.9 10,270.6 10,288.8 10,444.0 10,303.6 46 37,013 32,527 312,036 37,964 32,788 314,278 37,065 32,346 312,917 37,573 32,588 313,425 37,781 32,713 313,960 37,925 32,708 314,564 38,576 33,138 315,162 38,082 47 32,640 48 315,671 49 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2012 Aug. 1 Personal income .................................................................................... 2 Compensation of employees, received ............................................ 3 Wage and salary disbursements.................................................... 4 Private industries ........................................................................... 5 Goods-producing industries........................................................ 6 Manufacturing.......................................................................... 7 Services-producing industries .................................................... 8 Trade, transportation, and utilities............................................ 9 Other services-producing industries........................................ 10 Government ................................................................................... 11 Supplements to wages and salaries.............................................. 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ............... 14 Proprietors’ income with inventory valuation and capital consumption adjustments.............................................................. 15 Farm .................................................................................................. 16 Nonfarm............................................................................................. 17 Rental income of persons with capital consumption adjustment 18 Personal income receipts on assets................................................. 19 Personal interest income ................................................................... 20 Personal dividend income ................................................................. 21 Personal current transfer receipts .................................................... 22 Government social benefits to persons ............................................. 23 Social security 1 ............................................................................. 24 Medicare 2 ...................................................................................... 25 Medicaid......................................................................................... 26 Unemployment insurance............................................................... 27 Veterans’ benefits........................................................................... 28 Other .............................................................................................. 29 Other current transfer receipts, from business (net) .......................... 30 Less: Contributions for government social insurance, domestic 31 Less: Personal current taxes ................................................................ 32 Equals: Disposable personal income .................................................. 33 Less: Personal outlays .......................................................................... 34 Personal consumption expenditures..................................................... 35 Goods................................................................................................ 36 Durable goods................................................................................ 37 Nondurable goods.......................................................................... 38 Services ............................................................................................ 39 Personal interest payments 3 ................................................................ 40 Personal current transfer payments ...................................................... 41 To government................................................................................... 42 To the rest of the world (net).............................................................. 43 Equals: Personal saving........................................................................ Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4 .................................................................... 45 Disposable personal income, billions of chained (2005) dollars 4 ........ Sept. Oct. 2013 Nov. Dec. Jan. r Feb. r Line March p 18.8 14.4 10.9 7.7 –9.7 –7.0 17.3 4.1 13.2 3.2 3.5 3.1 0.4 50.3 31.1 26.3 25.0 2.1 –0.4 23.0 5.0 18.0 1.3 4.8 3.0 1.8 6.4 –14.5 –16.3 –14.4 –6.0 –3.5 –8.4 –0.5 –7.9 –1.8 1.7 2.9 –1.1 145.2 81.6 73.7 73.6 11.0 6.4 62.6 14.8 47.8 0.0 8.1 2.8 5.2 357.9 57.1 50.2 49.3 10.3 6.8 39.0 3.4 35.7 1.0 6.7 3.0 3.7 –507.2 –34.0 –39.7 –40.8 –4.2 –3.5 –36.6 2.0 –38.7 1.0 5.8 2.8 3.0 151.2 51.9 46.2 44.6 15.1 9.8 29.5 7.2 22.3 1.7 5.7 2.5 3.2 30.9 18.6 15.4 14.9 –0.1 –0.3 15.0 3.5 11.5 0.4 3.2 2.0 1.2 1 2 3 4 5 6 7 8 9 10 11 12 13 5.7 3.2 2.5 8.8 –9.2 –18.3 9.0 0.3 0.2 –2.4 2.3 3.4 –3.6 0.9 –0.5 0.1 1.1 2.7 16.1 37.2 34.6 44.2 11.5 32.7 –9.7 2.5 0.2 0.3 0.0 –21.3 11.2 3.2 8.0 9.0 –12.1 –18.2 6.1 14.3 14.1 13.9 1.6 0.5 –2.0 –1.1 1.3 0.2 3.1 5.9 44.4 89.0 86.2 64.4 25.2 39.2 21.9 2.5 0.2 0.2 0.0 –44.5 1.2 –1.0 2.2 0.2 26.4 20.1 6.3 –8.5 –8.6 –10.3 –1.1 –0.6 –1.7 1.5 3.6 0.1 –1.6 6.3 0.1 –3.7 –3.5 –15.6 –14.1 –1.6 12.0 –0.7 0.7 0.0 0.5 3.9 9.9 –0.9 10.9 1.8 55.2 20.0 35.2 5.6 5.5 4.7 0.6 0.3 1.0 –0.7 –0.6 0.2 9.0 20.5 124.7 34.4 35.2 8.6 33.9 –25.2 26.6 –0.8 –0.1 0.0 0.0 90.2 6.2 –1.0 7.1 0.6 281.3 20.0 261.3 19.0 18.8 13.7 5.4 0.4 –1.9 0.1 1.2 0.1 6.4 28.6 329.3 18.1 18.8 7.3 12.0 –4.7 11.5 –0.7 0.0 –0.1 0.0 311.2 11.7 6.3 5.4 7.8 –374.3 –11.8 –362.5 8.8 8.5 3.3 3.9 –0.8 –2.9 2.8 2.3 0.3 127.1 –13.5 –493.7 29.9 28.6 –3.7 1.5 –5.2 32.3 1.6 –0.3 –0.1 –0.1 –523.6 17.1 6.3 10.8 9.1 68.2 –11.9 80.1 11.3 11.2 4.3 5.0 1.6 –1.8 2.2 –0.4 0.2 6.4 17.1 134.0 83.1 81.6 43.7 2.1 41.5 37.9 1.6 –0.1 0.0 0.0 50.9 8.8 6.3 2.5 9.5 –7.3 –11.8 4.5 3.7 3.5 6.4 0.9 1.2 –4.2 –1.0 0.4 0.1 2.4 10.2 20.7 22.6 21.0 –32.8 –3.0 –29.8 53.8 1.6 0.0 –0.1 0.0 –1.8 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 –17.5 –22.3 0.8 5.5 –2.3 –16.2 133.0 121.2 291.1 282.8 –448.2 –429.5 82.4 74.5 p Preliminary r Revised 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. 35.9 44 31.3 45 Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2011 2012 2011 IV 1 Personal income .................................................................................... 2 Compensation of employees, received ............................................ 3 Wage and salary disbursements.................................................... 4 Private industries ........................................................................... 5 Goods-producing industries........................................................ 6 Manufacturing.......................................................................... 7 Services-producing industries .................................................... 8 Trade, transportation, and utilities............................................ 9 Other services-producing industries........................................ 10 Government ................................................................................... 11 Supplements to wages and salaries.............................................. 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ............... 14 Proprietors’ income with inventory valuation and capital consumption adjustments.............................................................. 15 Farm .................................................................................................. 16 Nonfarm............................................................................................. 17 Rental income of persons with capital consumption adjustment 18 Personal income receipts on assets................................................. 19 Personal interest income ................................................................... 20 Personal dividend income ................................................................. 21 Personal current transfer receipts .................................................... 22 Government social benefits to persons ............................................. 23 Social security 1 ............................................................................. 24 Medicare 2 ...................................................................................... 25 Medicaid......................................................................................... 26 Unemployment insurance............................................................... 27 Veterans’ benefits........................................................................... 28 Other .............................................................................................. 29 Other current transfer receipts, from business (net) .......................... 30 Less: Contributions for government social insurance, domestic 31 Less: Personal current taxes ................................................................ 32 Equals: Disposable personal income .................................................. 33 Less: Personal outlays .......................................................................... 34 Personal consumption expenditures..................................................... 35 Goods................................................................................................ 36 Durable goods................................................................................ 37 Nondurable goods.......................................................................... 38 Services ............................................................................................ 39 Personal interest payments 3 ................................................................ 40 Personal current transfer payments ...................................................... 41 To government................................................................................... 42 To the rest of the world (net).............................................................. 43 Equals: Personal saving........................................................................ Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4 .................................................................... 45 Disposable personal income, billions of chained (2005) dollars 4 ........ 2012 I II 2013 III IV Line I 625.4 325.2 256.7 252.7 51.1 32.5 201.6 44.6 157.0 4.0 68.5 41.7 26.8 459.9 270.6 219.4 213.2 49.7 33.4 163.6 51.7 111.9 6.2 51.2 33.1 18.0 41.1 22.0 14.3 19.5 –9.0 –9.1 28.5 2.4 26.0 –5.2 7.7 7.3 0.4 209.7 155.6 133.5 126.9 36.6 22.1 90.2 26.7 63.5 6.6 22.1 8.1 14.0 99.9 32.0 23.3 22.6 17.8 21.2 4.9 15.1 –10.2 0.7 8.7 8.1 0.6 79.2 49.9 39.3 35.9 0.3 1.9 35.5 6.8 28.7 3.5 10.6 8.5 2.1 262.3 84.5 70.8 70.3 3.0 0.4 67.4 15.2 52.3 0.4 13.7 8.9 4.9 –109.1 72.1 54.2 51.3 16.3 9.7 35.0 15.2 19.7 2.9 17.9 8.0 9.7 1 2 3 4 5 6 7 8 9 10 11 12 13 53.9 10.3 43.7 60.5 86.8 –7.8 94.6 34.9 37.4 23.1 29.8 7.3 –30.9 5.4 2.7 –2.5 –64.0 203.2 422.2 499.5 513.3 259.9 67.0 192.9 253.3 –15.8 1.9 1.5 0.4 –77.3 45.0 1.6 43.3 52.9 64.6 –16.2 80.7 55.9 54.9 48.9 16.9 11.4 –27.1 9.0 –4.3 1.0 29.0 77.8 382.1 400.4 390.6 158.4 72.5 85.8 232.3 4.7 5.2 2.6 2.5 –18.3 3.9 –0.9 4.8 16.5 –4.5 –16.4 11.9 5.2 5.6 5.9 4.0 –4.1 –2.1 –0.2 2.2 –0.4 2.0 15.3 25.7 84.7 82.6 46.4 30.3 16.3 36.2 –0.3 2.4 0.7 1.8 –58.9 19.0 –2.1 21.2 15.0 11.8 3.8 8.0 28.1 26.7 31.3 2.8 5.6 –6.7 4.1 –10.5 1.4 19.8 31.7 178.1 143.1 133.4 65.9 29.5 36.3 67.5 8.4 1.3 0.7 0.4 35.0 10.6 0.2 10.3 7.5 34.4 14.3 20.0 17.2 16.8 6.2 1.0 16.3 –10.4 2.7 0.9 0.5 1.8 14.4 85.4 57.4 60.0 –14.4 –4.3 –10.1 74.4 –4.2 1.6 0.8 0.9 28.0 10.5 6.9 3.6 18.2 –18.0 –30.8 12.9 22.8 22.3 5.7 9.3 10.3 –8.9 2.5 3.5 0.3 4.3 11.3 67.9 88.6 87.2 51.0 18.6 32.4 36.2 0.4 0.9 0.7 0.2 –20.6 19.3 1.3 18.0 10.5 145.9 21.9 124.0 11.2 10.8 5.9 2.9 1.2 –4.2 0.7 4.3 0.5 8.9 34.3 228.0 97.0 95.2 50.3 33.1 17.2 45.0 1.0 0.8 0.3 0.5 130.9 33.4 11.6 21.8 18.0 –125.4 –3.7 –121.7 32.1 31.5 19.0 11.3 1.1 –6.4 3.8 2.8 0.6 139.5 27.2 –136.3 116.3 114.3 22.2 21.2 1.0 92.0 2.5 –0.4 –0.3 –0.1 –252.7 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 304.2 133.2 187.8 154.7 6.8 –4.1 100.3 92.4 55.6 56.7 11.3 18.2 178.2 155.2 –142.9 44 –140.4 45 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2012 Aug. Sept. 2013 Oct. Nov. Dec. Jan. r Feb. Line r p March Based on current-dollar measures 1 Personal income .......................................................................... 2 Compensation of employees, received ....................................... 3 Wage and salary disbursements ............................................. 4 Supplements to wages and salaries........................................ 5 Proprietors’ income with inventory valuation and capital consumption adjustments........................................................ 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ........................................... 8 Personal interest income ......................................................... 9 Personal dividend income ....................................................... 10 Personal current transfer receipts............................................... 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes ...................................................... 13 Equals: Disposable personal income ........................................ Addenda: 14 Personal consumption expenditures........................................... 15 Goods...................................................................................... 16 Durable goods...................................................................... 17 Nondurable goods................................................................ 18 Services .................................................................................. 0.1 0.2 0.2 0.2 0.4 0.4 0.4 0.3 0.0 –0.2 –0.2 0.1 1.1 1.0 1.1 0.5 2.6 0.7 0.7 0.4 –3.6 –0.4 –0.6 0.3 1.1 0.6 0.7 0.3 0.2 0.2 0.2 0.2 1 2 3 4 0.5 1.9 –0.5 –1.8 1.2 0.0 0.1 0.2 0.1 0.9 1.9 –0.7 –1.9 0.8 0.6 0.3 0.4 0.4 0.1 0.0 1.5 2.1 0.8 –0.4 –0.2 0.4 0.0 0.8 0.4 3.2 2.1 4.7 0.2 0.9 1.4 1.0 0.5 0.1 15.8 2.0 33.2 0.8 0.7 1.9 2.7 0.9 1.6 –18.1 –1.2 –34.6 0.4 13.2 –0.9 –4.0 1.4 1.8 4.0 –1.2 11.7 0.5 0.6 1.1 1.1 0.7 1.9 –0.4 –1.2 0.6 0.2 0.2 0.7 0.2 5 6 7 8 9 10 11 12 13 0.3 1.2 1.0 1.3 –0.1 0.8 1.7 2.1 1.5 0.3 0.0 –0.4 –1.1 –0.1 0.2 0.3 0.2 2.8 –1.0 0.4 0.2 0.2 1.0 –0.2 0.2 0.3 –0.1 0.1 –0.2 0.4 0.7 1.1 0.2 1.6 0.5 0.2 –0.8 –0.2 –1.1 0.7 14 15 16 17 18 1.4 1.2 3.0 2.7 –4.5 –4.0 0.9 0.7 Based on chained (2005) dollar measures 19 20 Real personal income excluding current transfer receipts .......... Real disposable personal income............................................... –0.2 –0.2 0.0 0.1 0.0 –0.2 0.4 19 0.3 20 p Preliminary r Revised Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2011 2012 IV I II 2013 III IV Line I Based on current-dollar measures 1 Personal income .......................................................................... 2 Compensation of employees, received ....................................... 3 Wage and salary disbursements ............................................. 4 Supplements to wages and salaries........................................ 5 Proprietors’ income with inventory valuation and capital consumption adjustments........................................................ 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ........................................... 8 Personal interest income ......................................................... 9 Personal dividend income ....................................................... 10 Personal current transfer receipts............................................... 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes ...................................................... 13 Equals: Disposable personal income ........................................ Addenda: 14 Personal consumption expenditures........................................... 15 Goods...................................................................................... 16 Durable goods...................................................................... 17 Nondurable goods................................................................ 18 Services .................................................................................. 5.1 4.1 4.0 4.4 3.6 3.3 3.3 3.1 1.3 1.1 0.9 1.9 6.6 7.7 8.2 5.5 3.1 1.5 1.4 2.1 2.4 2.4 2.3 2.6 8.1 4.0 4.2 3.3 –3.2 3.4 3.2 4.3 1 2 3 4 4.9 17.3 5.4 –0.8 16.3 1.5 –6.5 17.0 3.8 3.9 12.9 3.8 –1.6 11.9 2.4 3.2 5.6 3.3 1.3 16.9 –1.0 –6.4 7.2 0.9 0.9 4.4 0.9 6.7 14.7 2.8 1.5 4.6 4.9 8.8 9.2 6.3 3.6 7.0 8.4 5.9 11.9 3.0 0.8 4.0 2.9 3.6 17.0 –4.1 –11.7 7.3 3.9 1.8 3.1 2.3 6.5 9.2 38.7 9.3 86.2 1.9 3.8 9.6 7.9 11.4 15.8 –24.4 –1.5 –45.6 5.5 72.2 7.4 –4.4 5 6 7 8 9 10 11 12 13 5.0 7.7 6.2 8.4 3.7 3.6 4.4 6.3 3.5 3.3 3.1 5.2 11.0 2.6 2.0 5.0 7.3 10.4 5.9 3.8 2.2 –1.5 –1.4 –1.6 4.2 3.2 5.6 6.3 5.2 2.0 3.5 5.4 11.3 2.7 2.5 4.1 2.3 7.0 0.2 5.1 14 15 16 17 18 4.4 3.7 2.4 2.2 0.5 0.7 7.7 6.2 Based on chained (2005) dollar measures 19 20 Real personal income excluding current transfer receipts .......... Real disposable personal income............................................... 3.4 1.3 2.0 1.5 0.3 –0.2 –5.8 19 –5.3 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2012 Line Aug. Sept. Oct. 2013 Nov. Jan. r Dec. Feb. r March p Line Billions of chained (2005) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures ......................................... 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... 9,604.3 3,432.5 1,358.7 2,095.6 6,177.9 9,647.8 3,465.9 1,389.8 2,103.0 6,189.5 9,629.5 3,447.8 1,376.1 2,096.7 6,188.4 9,673.0 3,481.8 1,416.0 2,098.4 6,199.2 9,689.0 3,498.7 1,432.7 2,101.4 6,199.3 9,708.7 3,501.7 1,433.8 2,103.3 6,215.6 9,740.3 3,510.2 1,437.5 2,108.3 6,238.5 9,771.1 3,500.8 1,436.9 2,100.4 6,277.1 1 2 3 4 5 Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures ......................................... 7 Goods ......................................................................................... 8 Durable goods ......................................................................... 9 Nondurable goods ................................................................... 10 Services...................................................................................... –3.9 11.9 15.2 –0.4 –14.9 43.5 33.4 31.1 7.4 11.6 –18.3 –18.1 –13.7 –6.3 –1.1 43.5 34.0 39.9 1.7 10.8 16.0 16.9 16.7 3.0 0.1 19.7 3.0 1.1 1.9 16.3 31.6 8.5 3.7 5.0 22.9 0.2 0.1 0.1 0.1 0.3 0.3 0.2 0.3 0.2 0.4 30.8 6 –9.4 7 –0.6 8 –7.9 9 38.6 10 Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures ......................................... 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... 0.0 0.3 1.1 0.0 –0.2 0.5 1.0 2.3 0.4 0.2 –0.2 –0.5 –1.0 –0.3 0.0 0.5 1.0 2.9 0.1 0.2 0.2 0.5 1.2 0.1 0.0 0.3 –0.3 0.0 –0.4 0.6 11 12 13 14 15 p Preliminary r Revised Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates Line 2011 2012 2011 IV 2012 I II 2013 III IV Line I Billions of chained (2005) dollars 1 Personal consumption expenditures ......................................... 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... 9,428.8 3,331.0 1,262.6 2,075.2 6,101.5 9,603.3 3,432.9 1,360.9 2,094.5 6,176.6 9,489.3 3,367.9 1,300.1 2,080.5 6,126.0 9,546.8 3,406.6 1,336.1 2,088.9 6,145.9 9,582.5 3,409.4 1,335.3 2,092.0 6,178.2 9,620.1 3,439.7 1,364.0 2,098.2 6,186.7 9,663.9 3,476.1 1,408.3 2,098.8 6,195.6 35.7 2.8 –0.8 3.1 32.3 37.6 30.3 28.7 6.2 8.5 43.8 36.4 44.3 0.6 8.9 1.5 0.3 –0.2 0.6 2.1 1.6 3.6 8.9 1.2 0.6 1.8 4.3 13.6 0.1 0.6 9,740.0 3,504.2 1,436.1 2,104.0 6,243.7 1 2 3 4 5 Change from preceding period in billions of chained (2005) dollars 6 Personal consumption expenditures ......................................... 7 Goods ......................................................................................... 8 Durable goods ......................................................................... 9 Nondurable goods ................................................................... 10 Services...................................................................................... 232.6 121.9 84.3 45.9 113.9 174.5 101.9 98.3 19.3 75.1 47.4 44.4 41.5 9.1 4.9 57.5 38.7 36.0 8.4 19.9 76.1 6 28.1 7 27.8 8 5.2 9 48.1 10 Percent change from preceding period in chained (2005) dollars 11 Personal consumption expenditures ......................................... 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... 2.5 3.8 7.2 2.3 1.9 1.9 3.1 7.8 0.9 1.2 2.0 5.4 13.9 1.8 0.3 2.4 4.7 11.5 1.6 1.3 3.2 3.3 8.1 1.0 3.1 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2012 Line Aug. Sept. 2013 Oct. Nov. Dec. Jan. r Feb. r March p Line Chain-type price indexes (2005=100), seasonally adjusted 1 Personal consumption expenditures (PCE) .............................. 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... Addenda: 6 PCE excluding food and energy ................................................. 7 Food 1 ......................................................................................... 8 Energy goods and services 2...................................................... 9 Market-based PCE 3 ................................................................... 10 Market-based PCE excluding food and energy 3 ........................ 115.964 110.299 89.370 122.711 118.996 116.335 111.095 89.180 124.143 119.129 116.518 111.218 89.044 124.442 119.344 116.358 110.378 88.929 123.137 119.564 116.360 110.054 88.726 122.737 119.749 116.420 109.858 88.771 122.377 119.954 116.880 110.836 88.690 124.057 120.121 116.726 110.197 88.518 123.109 120.240 1 2 3 4 5 113.902 120.955 143.471 115.959 113.565 113.955 120.884 150.360 116.399 113.650 114.127 121.183 150.702 116.535 113.766 114.222 121.430 145.182 116.307 113.820 114.274 121.677 143.848 116.301 113.872 114.483 121.679 141.072 116.407 114.156 114.559 121.876 149.254 116.955 114.276 114.596 6 121.953 7 145.201 8 116.804 9 114.344 10 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates 11 Personal consumption expenditures (PCE) .............................. 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... Addenda: 16 PCE excluding food and energy ................................................. 17 Food 1 ......................................................................................... 18 Energy goods and services 2...................................................... 19 Market-based PCE 3 ................................................................... 20 Market-based PCE excluding food and energy 3 ........................ 0.4 0.8 –0.2 1.3 0.1 0.3 0.7 –0.2 1.2 0.1 0.2 0.1 –0.2 0.2 0.2 –0.1 –0.8 –0.1 –1.0 0.2 0.0 –0.3 –0.2 –0.3 0.2 0.1 –0.2 0.1 –0.3 0.2 0.4 0.9 –0.1 1.4 0.1 –0.1 –0.6 –0.2 –0.8 0.1 11 12 13 14 15 0.0 0.1 5.8 0.4 0.0 0.0 –0.1 4.8 0.4 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.2 –3.7 –0.2 0.0 0.0 0.2 –0.9 0.0 0.0 0.2 0.0 –1.9 0.1 0.2 0.1 0.2 5.8 0.5 0.1 0.0 0.1 –2.7 –0.1 0.1 16 17 18 19 20 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line Aug. 1 Disposable personal income ...................................................... 2 Personal consumption expenditures ......................................... 3 Goods ......................................................................................... 4 Durable goods ......................................................................... 5 Nondurable goods ................................................................... 6 Services...................................................................................... Sept. 1.6 1.9 3.7 8.9 1.4 0.9 2013 Oct. 1.7 1.9 3.7 8.9 1.3 1.1 Nov. 1.3 1.5 2.4 6.4 0.5 1.1 Dec. 2.8 1.9 3.4 9.0 0.8 1.2 Jan. r 5.4 2.1 3.9 9.5 1.3 1.1 Feb. r 0.6 2.0 3.2 8.0 1.0 1.4 1.0 1.9 2.9 7.3 0.8 1.4 March p 1.1 2.2 2.5 7.2 0.3 2.0 Line 1 2 3 4 5 6 p Preliminary r Revised Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line 1 Personal consumption expenditures (PCE) .............................. 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... Addenda: 6 PCE excluding food and energy ................................................. 7 Food 1 ......................................................................................... 8 Energy goods and services 2...................................................... 9 Market-based PCE 3 ................................................................... 10 Market-based PCE excluding food and energy 3 ........................ Aug. Sept. 2013 Oct. Nov. Jan. r Dec. Feb. r 1.4 0.6 –1.8 1.7 1.9 1.6 1.1 –1.6 2.4 1.9 1.8 1.4 –1.7 2.9 1.9 1.5 0.7 –1.6 1.8 2.0 1.5 0.6 –1.6 1.7 1.9 1.3 0.1 –1.6 1.0 1.9 1.3 0.4 –1.7 1.5 1.8 1.5 1.5 0.0 1.5 1.7 1.5 0.9 3.2 1.7 1.7 1.6 0.9 5.3 1.8 1.7 1.5 1.2 1.9 1.6 1.6 1.4 1.2 2.4 1.5 1.4 1.4 1.0 0.1 1.3 1.4 1.3 1.2 2.2 1.5 1.4 March p 1.0 –0.5 –1.7 0.2 1.7 Line 1 2 3 4 5 1.1 6 1.1 7 –1.6 8 1.1 9 1.3 10 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
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