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B U R E A U O F E C O N O M IC A N A L Y SIS U .S. D E P A R T M E N T O F C O M M E R C E NEWS RELEASE E M B A R G O E D U N T IL R E L E A S E A T 8 :3 0 A .M . E D T , F R ID A Y , JU N E 30, 2 0 0 6 Jam e s E. R an k in : M ic h a e l A rm ah: (2 0 2 ) 6 0 6 -5 3 0 1 (2 0 2 ) 6 0 6 -5 3 0 2 (P e rso n a l In c o m e ) (P e rso n a l O u tlay s) B E A 06-31 P E R S O N A L IN C O M E A N D O U T L A Y S : M A Y 200 6 P e rso n a l in c o m e in c re a se d $ 3 8 .3 b illio n , o r 0 .4 p e rc en t, a n d d isp o sa b le p e rso n al in c o m e (D PI) in c re a s e d $ 3 1 .6 b illio n , o r 0.3 p e rc e n t, in M a y , a c c o rd in g to th e B u re a u o f E c o n o m ic A n a ly sis. P e rs o n a l co n su m p tio n e x p e n d itu re s (P C E ) in c re a s e d $40.3 b illio n , o r 0 .4 p e rc en t. In A p ril, p e rso n al in c o m e in c re a se d $ 7 6 .2 b illio n , o r 0 .7 p e rc e n t, D P I in c re a se d $ 5 2 .4 b illio n , o r 0 .6 p e rc en t, a n d P C E in c re a se d $ 6 5.3 b illio n , o r 0.7 p e rc e n t, b a s e d o n re v ise d e stim ates. ___ __________________ 2 0 0 6 ______________________ Jan . Feb. M ar. A p r. (P erce n t c h a n g e fro m p re c e d in g m o n th ) Ma; 0 .6 0.3 0 .4 0 .7 0 .4 0 .2 0 .2 0.3 0 .6 0.3 -0 .3 0 .2 0.1 0.1 0.0 C u rre n t d o llars 0.8 0 .2 0.5 0 .7 0 .4 C h a in e d (2 0 0 0 ) d o llars 0.3 0 .2 0.1 0 .2 0.1 P e rso n a l in co m e, c u rre n t d o lla rs D isp o sa b le p e rso n a l in co m e: C u rre n t d o llars C h a in e d (2 0 0 0 ) d o llars - P e rso n a l c o n su m p tio n e x p e n d itu re s: As p art o f the annual rev isio n o f the national incom e and p ro d u ct accounts, revised estim ates o f p e rso n al incom e and outlays co v erin g Jan u ary 2003 through M ay 2006 w ill be released along w ith p relim in ary estim ates fo r Ju n e 2006 on A u g u st 1, 2006. A n article describing the revision w ill appear in the A ugust 2006 issue o f the S u r v e y o f C u r r e n t B u s i n e s s . N O T E .-M o n th ly estim ates are e x p ressed at seasonally adjusted annual rates, unless otherw ise specified. M onth-to-m onth do llarch an g es are differences betw een these p u b lish ed estim ates. M onth-to-m onth percent changes are calculated from u n ro u n d ed data an d are not annualized. “R ea l” estim ates are in ch ained (2000) dollars. This new s release is av ailab le on B E A 's W eb site at w w w .b ea.g o v /b ea/rels.h tm . -m o re - - 2 - W a g e s a n d s a la r ie s P riv a te w a g e an d sala ry d is b u rs e m e n ts in c re a se d $ 0 .2 b illio n in M ay, c o m p a re d w ith an in c re a se o f $ 4 8 .0 b illio n in A p ril. G o o d s-p ro d u c in g in d u strie s' p a y ro lls in c re a se d $2 .3 b illio n , c o m p a re d w ith an in c re a se o f $8 .3 b illio n ; m a n u fa c tu rin g p a y ro lls d e c re a se d $0.5 b illio n , in c o n tra st to an in c re a se o f $ 5 .2 b illio n . S e rv ic e s-p ro d u c in g in d u strie s' p a y ro lls d e c re a se d $ 2 .0 b illio n , c o m p a re d w ith an in c re a se o f $ 3 9 .7 b illio n . G o v e rn m e n t w a g e an d salary d isb u rse m e n ts in c re a se d $1.5 b illio n , c o m p a re d w ith an in c re a se o f $1 .4 b illio n . D is p o s ab le P erso n al In co m e and P erso nal O u tlays J a n u a ry 2002 th rou gh M ay 2006 (B illio n s o f d o lla rs ; s e a s o n a lly a d ju s te d a t a n n u a l rate s) -m o re- -3 - O th e r p e r s o n a l in c o m e S u p p le m e n ts to w a g es a n d sa la rie s in c re a se d $ 3 .2 b illio n in M ay , c o m p a re d w ith an in c re a s e o f $ 8 .9 b illio n in A p ril. P ro p rie to rs' in c o m e in c re a s e d $ 6 .4 b illio n in M ay , c o m p a re d w ith an in c re a s e o f $ 0 .2 b illio n in A p ril. F a rm p ro p rie to rs' in c o m e d e c re a se d $ 2 .9 b illio n , c o m p a re d w ith a d e c re a se o f $ 2 .3 b illio n . N o n fa rm p ro p rie to rs' in c o m e in c re a s e d $9 .3 b illio n , c o m p a re d w ith an in c re a s e o f $ 2 .5 b illio n . R e n ta l in c o m e o f p e rso n s d e c re a s e d $ 4 .3 b illio n in M ay , c o m p a re d w ith a d e c re a se o f $ 4 .0 b illio n in A p ril. P e rso n a l in c o m e re c e ip ts o n assets (p e rso n a l in te re st in c o m e p lu s p e rs o n a l d iv id e n d in c o m e ) in c re a se d $ 1 6 .6 b illio n , c o m p a re d w ith an in c re a se o f $ 1 6 .3 b illio n . P e rs o n a l c u rre n t tra n sfe r re c e ip ts in c re a se d $ 1 4 .6 b illio n , c o m p a re d w ith an in c re a s e o f $ 1 1 .8 b illio n . C o n trib u tio n s fo r g o v e rn m e n t so c ia l in su ra n c e — a su b tra c tio n in c a lc u la tin g p e rs o n a l in c o m e — w as u n c h a n g e d in M ay , fo llo w in g an in c re a s e o f $6 .5 b illio n in A p ril. P e r s o n a l c u r r e n t ta x e s a n d d is p o s a b le p e r s o n a l in c o m e P e rso n a l c u rre n t ta x e s in c re a s e d $ 6 .7 b illio n in M ay , c o m p a re d w ith an in c re a s e o f $ 2 3 .8 b illio n in A p ril. D isp o sa b le p e rs o n a l in c o m e (D P I) - p e rs o n a l in c o m e le ss p e rs o n a l c u rre n t ta x es in c re a se d $ 3 1 .6 b illio n , o r 0.3 p e rc e n t, in M ay , c o m p a re d w ith an in c re a se o f $ 5 2 .4 b illio n , o r 0 .6 p e rc en t, in A p ril. P e r s o n a l o u tla y s a n d p e r s o n a l s a v in g P e rso n a l o u tlay s - P C E , p e rs o n a l in te re st p a y m en ts, a n d p e rso n a l c u rre n t tra n s fe r p a y m e n ts in c re a se d $41.1 b illio n in M a y , c o m p a re d w ith an in c re a se o f $ 6 6 .2 b illio n in A p ril. P C E in c re a se d $ 4 0 .3 b illio n , c o m p a re d w ith an in c re a s e o f $ 6 5 .3 b illio n . P e rso n a l sa v in g - D P I less p e rs o n a l o u tla y s - w as a n e g a tiv e $ 1 6 2 .9 b illio n in M ay , c o m p a re d w ith a n e g a tiv e $ 1 5 3 .5 b illio n in A p ril. P e rso n a l sa v in g as a p e rc e n ta g e o f d is p o sa b le p e rs o n a l in c o m e w a s a n e g a tiv e 1.7 p e rc e n t in M ay , c o m p a re d w ith a n e g a tiv e 1.6 p e rc e n t in A p ril. N e g a tiv e p e rso n a l sav in g re fle c ts p e rs o n a l o u tla y s th a t e x c e e d d isp o sa b le p e rs o n a l in c o m e . S a v in g fro m c u rre n t in c o m e m a y b e n e a r z ero o r n e g a tiv e w h e n o u tla y s a re fin a n c e d b y b o rro w in g (in c lu d in g b o rro w in g fin a n c e d th ro u g h c re d it c ard s o r h o m e e q u ity lo a n s), b y se llin g in v e stm e n ts o r o th e r assets, o r b y u sin g sa v in g s fro m p re v io u s p e rio d s. F o r m o re in fo rm a tio n , see th e F A Q s o n “P e rso n a l S a v in g ” o n B E A ’s W eb site. -m o re - -4 - R eal D P I and real P C E R e a l D P I - D P I a d ju s te d to re m o v e p ric e ch an g es - d e c re a se d less th a n 0.1 p e rc e n t in M ay, fo llo w in g an in c re ase o f 0.1 p e rc e n t in A p ril. R e a l P C E - P C E a d ju s te d to re m o v e p ric e ch an g es - in c re a se d 0.1 p e rc e n t in M ay , co m p ared w ith a n in c re ase o f 0.2 p e rc e n t in A p ril. P u rc h a se s o f d u ra b le g o o d s d e c re a se d 0.6 p e rc en t, in c o n tra st to an in c re a se o f 0.3 p e rc e n t. P u rc h a se s o f m o to r v e h ic le s a n d p a rts m o re th a n a cc o u n te d fo r th e M a y d ecrease. P u rc h a s e s o f n o n d u ra b le g o o d s d e c re a se d 0.1 p e rc e n t in M ay , in c o n trast to an in c re ase o f 0.4 p e rc e n t in A p ril. P u rc h a s e s o f serv ices in c re a se d 0.3 p e rc en t, c o m p a re d w ith an in c re a se o f 0.1 p e rc en t. P C E p ric e in d e x — T h e P C E p ric e in d e x in c re ase d 0.4 p e rc e n t in M ay , c o m p a re d w ith an in c re a se o f 0.5 p e rc e n t in A p ril. T h e P C E p ric e in d ex , e x c lu d in g fo o d a n d en erg y , in c re ase d 0.2 p e rc e n t, th e sam e in c re a s e as in A p ril. R e v is io n s E stim a te s h a v e b e e n re v is e d fo r Ja n u a ry th ro u g h A p ril. C h a n g e s in p e rso n a l in co m e, c u rren td o lla r a n d c h ain e d (2 0 0 0 ) d o lla r D P I, a n d c u rre n t-d o lla r an d c h a in e d (2 0 0 0 ) d o lla r P C E fo r M a rc h a n d A p ril — re v ise d an d as p u b lis h e d in la st m o n th 's re le ase — are sh o w n b elo w . R ev isio n s for Ja n u a ry a n d F e b ru a ry w e re sm all. C hange from p reced in g m onth M arch Previous Revised A pril Previous Revised (Billions of dollars) (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) Personal Income: 48.3 39.2 0.5 0.4 57.9 76.2 0.5 0.7 C urrent dollars....................... 37.2 29.4 0.4 0.3 36.6 52.4 0.4 0.6 Chained (2000) d ollars......... 1.9 -4.5 o o C urrent dollars....................... -7.1 6.7 -0.1 0.1 C urrent dollars....................... 46.4 44.3 0.5 0.5 55.0 65.3 0.6 0.7 C hained (2000) d ollars......... 10.7 9.3 0.1 0.1 10.0 18.9 0.1 0.2 D isposable personal incom e: Ö1 Personal consum ption expenditures: -m o re- -5 - B E A ’s n a tio n a l, in te rn a tio n a l, re g io n a l, a n d in d u stry e stim ate s; th e S u r v e y o f C u r r e n t B u s i n e s s ' , a n d B E A n e w s re le a se s are a v a ila b le w ith o u t c h a rg e on B E A ’s W eb site a t w w w .b e a .g o v . B y v isitin g th e site, y o u c a n also su b sc rib e to re c e iv e free e -m a il su m m a rie s o f B E A re le a se s an d a n n o u n c e m e n ts. * * * N e x t re le a s e — P e rs o n a l In c o m e an d O u tlay s fo r Ju n e w ill b e re le a s e d on A u g u st 1, 2 0 0 6 , at 8 :30 A .M . E D T . -m o re - T a b le 1 .— P e r s o n a l In c o m e and Its D is p o s itio n (M o n th s ) [Billions of dollars] Seasonally adjusted at annual rates 2005 Oct. P e rs o n a l in c o m e ........................... C o m p e n s a t io n o f e m p lo y e e s , re c e iv e d W a g e a n d s a la r y d is b u r s e m e n t s . . .......... Private industries ................ G oods-produclng In d u s trie s ................... M a n u fa c tu rin g ............................ Servlces-producing Industries .......................... Trade, transportation, and u tilitie s ................................................... O ther services-produclng Industries ........................................ G o v e rn m e n t..................... S u p p le m e n t s to w a g e s a n d s a la r ie s ............................................................... Em ployer contributions for employee pension and insurance f u n d s ...... Employer contributions for governm ent social in s u ra n c e ........................ P r o p r ie t o r s ’ in c o m e w ith In v e n to r y v a lu a tio n a n d c a p it a l c o n s u m p t io n a d j u s t m e n t s .............................. Farm .................................... Nonfarm ....................... Personal Interest income ............... Personal dividend in c o m e ............... P e rs o n a l c u r r e n t tr a n s f e r r e c e ip ts ................. G overnm ent social benefits to p e rs o n s ........... Old-age, survivors, disability, and health insurance b e n e fits .................. G overnm ent unemploym ent insurance benefits ..................................... Other ............................ Other current transfer receipts, from business (net) ................................... L e s s : C o n t r ib u t io n s f o r g o v e r n m e n t s o c ia l in s u r a n c e Less: P e rs o n a l c u rre n t ta x e s E q u a ls : D is p o s a b le p e r s o n a l In c o m e L e s s : P e r s o n a l o u tla y s ......................... ............... ............................. ............ Personal consumption expenditures ........... Durable goods ........................ Nondurable goods .................. Services ....................... Personal interest p a ym e n ts 1 .... Personal current transfer p a y m e n ts ................ To governm ent .................................. To the rest of the world (net) ....................... E q u a ls : P e r s o n a l s a v in a .............. Nov. Dec. Jan. ' Feb . r M a r.' A p r.r M ayp 10,409.0 10,431.2 10,483.1 10,546.2 10,579.7 10,618.9 10,695.1 10,733.4 7,205.6 7,202.2 7,231.0 7,286.7 7,324.1 7,354.5 7,412.8 7,417.8 5,779.4 4,799.5 1,134.9 729.0 3,664.6 961.4 2,703.2 980.0 5,774.6 4,791.9 1,130.5 721.7 3,661.4 963.5 2,698.0 982.6 5,799.7 4,815.5 1,133.8 722.7 3,681.7 966.4 2,715.3 984.2 5,838.5 4,850.1 1,138.3 724.0 3,711.8 971.4 2,740.4 988.4 5,867.3 4,875.7 1,142.3 726.4 3,733.5 974.7 2,758.8 991.6 5,889.6 4,896.3 1,144.5 727.5 3,751.8 977.9 2,773.9 993.3 5,939.0 4,944.3 1,152.8 732.7 3,791.5 987.2 2,804.2 994.7 > 1 55 1 73 22 3,7R9 5 982 8 2,806.7 996.2 1,426.1 996.8 429.4 1,427.6 998.9 428.7 1,431.3 1,001.2 430.1 1,448.2 1,010.7 437.5 1,456.7 1,017.7 439.1 1,464.9 1,024.6 440.3 1,473.8 i;0 3 0 .5 443.3 1,477 0 1,033.9 443.1 961.3 19.1 942.2 967.9 21.0 946.9 974.0 22.9 951.1 976.4 17.5 958.9 974.6 15.1 959.5 980.2 12.8 967.4 980.4 10.5 969.9 986.8 76 979.2 R e n ta l in c o m e o f p e r s o n s w ith c a p ita l c o n s u m p t io n a d j u s t m e n t .............. P e rs o n a l in c o m e r e c e ip ts o n a s s e ts 2006 5,940 R 4 9 4 4 R 79.3 82.7 78.9 72.2 69.7 66.0 62.0 57.7 1,494.9 967.2 527.7 1,512.9 980.1 532.9 1,531.0 992.9 538.0 1,531.6 989.3 542.3 1,531.6 985.6 546.1 1,532.2 981.9 550.3 1,548.5 993.7 554.7 1,565 1 1*005 5 '559.6 1,545.0 1,504.5 854.8 30.7 619.1 40.4 1,541.6 1,512.1 855.3 29.6 627.2 29.5 1,547.4 1,517.9 865.5 28.7 623.6 29.5 1,576.3 1,547.0 908.3 27.3 611.3 29.3 1,581.0 1,551.7 920.0 26.1 605.6 29.3 1,589.9 1,560.5 929.5 26.1 604.9 29.4 1,601.7 1,572.3 934.8 25.8 611.7 29.4 1,616 3 1 586 9 944? 25.8 6170 29.4 877.1 876.1 879.1 897.0 901.3 903.9 910.4 910.4 1,229.5 1,231.4 1,238.4 1,282.3 1,293.1 1,302.9 1,326.7 1,333.4 9,179.5 9,199.8 9,244.7 9,263.9 9,286.6 9,316.0 9,368.4 9,400.0 9,209,3 9,251.5 9,314.8 9,386.1 9,409.0 9,455.7 9,521.9 9,563.0 8,877.3 965.3 2,658.7 5,253.4 210.5 121.5 75.7 44.8 8,919.1 1,000.7 2,632.7 5,285.7 210.2 122.1 77.4 44.8 8,982.1 1,040.4 2,636.0 5,305.8 210.0 122.7 78.0 44.8 9,053.3 1,059.2 2,687.8 5,306.4 211.9 120.9 78.6 42.3 9,073.7 1,040.0 2,680.6 5,353.1 213.7 121.5 79.3 42.3 9,118.0 1,043.6 2,694.6 5,379.8 215.6 122.1 79.9 42.3 9,183.3 1,046.7 2,735.6 5,401.0 215.8 122.8 80.5 42.3 9,223 6 1,040.6 2> 53 .4 5,429.6 216 1 123.4 81 1 42.3 -2 9 .8 -5 1 .7 -70.1 -1 2 2 .2 -1 2 2 .4 -1 3 9 .7 -1 5 3 .5 -16 2 .9 - .3 - .6 -.8 -1 .3 -1 .3 -1 .5 - 1 .6 - 1 .7 8,126.6 8,179.8 8,220.3 8,196.8 8,213.9 8,209.4 8,216.1 8,213.6 30,852 27,313 297,534 30,897 27,471 297,756 31,027 27,589 297,954 31,072 27,493 298,144 31,128 27,532 298,337 31,205 27,499 298,539 31,358 27,501 298>53 31,441 27 473 298,972 P e rs o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l in c o m e ........... A ddenda: Disposable personal Income: Total, billions of chained (2000) d o lla rs 2 Per capita: Current dollars ..................... Chained (2000) dollars ................. Population (midperiod, thousands)3 ...... p Pr e l i m i n a r y r Re v i se d 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2 . Eq u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i ci t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. 3. Po p u l a t i o n t ionalized i s t h e t ot al p o p u l a t i o n o f t h e Un it e d pop ulat ion. The m ont hly St a t e s, i n c l u d i n g t h e A r m e d e st i m a t e i s t h e a v e r a g e of F o r c e s o v e r se a s a n d e st i m a t e s f o r t h e f i r st of t h e t h e f o l l o w i n g m o n t h ; t h e a n n u a l a n d q u a r t e r l y e st i m a t e s a r e a v e r a g e s o f t h e m o n t h l y e st i m a t e s. m ont h and t h e i n st i t u t he f i r st o f T a b le 2 — P e r s o n a l In c o m e and Its D is p o s itio n (Y e a rs and Q u a rte rs ) [Billions of dollars] Seasonally adjusted at annual rates 2004 2005 2004 2005 IV P e r s o n a l in c o m e I II 2006 III \r IV ............................................................................................................... 9 ,7 1 3 .3 1 0 ,2 3 7 .7 1 0 ,0 2 4 .8 1 0 ,0 7 3 .4 1 0 ,1 8 5 .7 1 0 ,2 5 0 .4 1 0 ,4 4 1 .1 1 0 ,5 8 1 .6 ................................................................ 6 ,6 8 7 .6 7 ,1 1 3 .1 6 ,8 9 5 .8 7 ,0 0 1 .7 7 ,0 6 0 .2 7 ,1 7 7 .6 7 ,2 1 2 .9 7 ,3 2 1 .8 ....................................................................... 5 ,3 8 9 .4 5 ,7 1 2 .3 Private industries ..................................................................................... G oods-producing in d u s trie s ................................................................. Manufacturing .................................................................................. Services-producing industries .............................................................. Trade, transportation, and u tilitie s ................................................... Other services-producing industries ................................................ G o v e rn m e n t.............................................................................................. 5 ,5 6 2 .9 5 ,6 2 9 .9 5 ,6 7 2 .3 5 ,7 6 2 .3 5 ,7 8 4 .6 4,450.0 1,049.9 687.7 3,400.1 899.7 2,500.4 939.5 4,740.7 1,117.4 720.0 3,623.3 953.9 2,669.5 971.6 5 ,8 6 5 .1 4,612.9 1,083.0 707.8 3,529.9 931.1 2,598.8 950.0 4,668.1 1,099.2 715.3 3,568.8 937.8 2,631.0 961.8 4,705.0 1,107.2 715.5 3,597.9 951.1 2,646.8 967.3 4,787.3 1,130.0 724.7 3,657.4 962.8 2,694.5 975.0 4,802.3 1,133.0 724.5 3,669.3 963.8 2,705.5 982.3 4,874.0 1,141.7 726.0 3,732.4 974.7 2,757.7 991.1 C o m p e n s a t io n o t e m p lo y e e s , re c e iv e d W a g e a n d s a la r y d is b u r s e m e n ts S u p p le m e n t s to w a g e s a n d s a la rie s ................................................................ 1,2 98.1 1 ,4 0 0 .8 1 ,3 3 2 .9 1 ,3 7 1 .8 1 ,3 8 7 .9 1 ,4 1 5 .3 Em ployer contributions for employee pension and insurance f u n d s ...... Employer contributions fo r governm ent social in s u ra n c e ........................ 895.5 402.7 1 ,4 2 8 .3 975.0 425.8 1 ,4 5 6 .6 919.6 413.4 950.0 421.9 964.4 423.5 986.8 428.5 998.9 429.4 1,017.7 439.0 P r o p r ie t o r s ’ in c o m e w ith in v e n to ry v a lu a tio n a n d c a p it a l c o n s u m p t io n a d j u s t m e n t s ........ ....................................................................................................... 8 8 9 .6 Farm ............................................................................................................ Nonfarm ....................................................................................................... 9 3 8 .7 9 0 0 .9 9 1 7 .9 9 3 6 .6 9 3 2 .4 9 6 7 .7 35.8 853.8 9 77.1 20.8 917.8 24.6 876.3 24.7 893.2 19.6 917.1 18.0 914.3 21.0 946.7 15.1 961.9 R e n ta l in c o m e o f p e r s o n s w ith c a p ita l c o n s u m p tio n a d j u s t m e n t .............. 1 3 4 .2 7 2 .9 1 2 8 .7 1 1 8 .0 1 0 4 .4 -1 1 .1 8 0 .3 6 9 .3 ..................................................................... 1 ,3 9 6 .5 1 ,4 5 7 .4 1 ,4 9 3 .6 1 ,4 0 7 .9 1 ,4 3 9 .8 1 ,4 6 8 .9 Personal interest income ............................................................................. Personal dividend in c o m e ............................................................................ 1 ,5 1 2 .9 905.9 490.6 1 ,5 3 1 .8 945.7 511.7 907.4 586.2 915.4 492.5 936.0 503.8 951.2 517.6 980.1 532.9 985.6 546.2 ......................................................................... 1 ,4 2 7 .5 1 ,5 2 5 .3 1 ,4 4 9 .2 1 ,4 8 8 .8 1 ,5 0 9 .6 1 ,5 5 8 .1 1 ,5 4 4 .7 G overnm ent social benefits to p e rs o n s ........................................................ Old-age, survivors, disability, and health insurance b e n e fits .................. G overnm ent unemployment insurance benefits ...................................... O ther ....................................................................................................... Other current transfer receipts, from business (net) ................................... 1,394.5 789.3 36.0 569.2 33.0 1 ,5 8 2 .4 1,483.7 844.7 28.9 610.1 41.6 1,419.5 805.5 32.4 581.5 29.8 1,459.7 828.0 29.4 602.2 29.1 1,480.4 842.2 28.0 610.2 29.2 1,483.2 850.1 28.5 604.6 74.8 1,511.5 858.6 29.7 623.3 33.1 1,553.1 919.2 26.5 607.3 29.3 P e rs o n a l in c o m e r e c e ip ts o n a s s e ts P e rs o n a l c u r r e n t tr a n s f e r re c e ip ts .................................. 8 2 2 .2 8 6 9 .7 8 4 3 .5 8 6 1 .0 8 6 4 .9 8 7 5 .4 8 7 7 .4 9 0 0 .7 L e s s : P e r s o n a l c u r r e n t t a x e s ........................................................................................ L e s s : C o n t r ib u t io n s fo r g o v e r n m e n t s o c ia l in s u r a n c e 1,0 49.1 1 ,2 0 7 .7 1 ,0 9 4 .3 1 ,1 7 1 .4 1 ,2 0 6 .0 1 ,2 2 0 .4 1 ,2 3 3 .1 1 ,2 9 2 .8 9 ,2 8 8 .8 E q u a ls : D is p o s a b le p e r s o n a l in c o m e ........................................................................ 8 ,6 6 4 .2 9 ,0 2 9 .9 8 ,9 3 0 .4 8 ,9 0 2 .0 8 ,9 7 9 .7 9 ,0 3 0 .0 9 ,2 0 8 .0 ................................................................................................... 8 ,5 1 2 .5 9 ,0 7 2 .1 8 ,7 2 5 .0 8 ,8 5 4 .6 9 ,0 0 1 .2 9 ,1 7 3 .9 9 ,2 5 8 .5 9 ,4 1 6 .9 Personal consumption expenditures ................................................................ Durable goods ............................................................................................. Nondurable goods ......................................... .................................... Services ................................................ Personal interest pay m e nts1 ........................................................................... Personal current transfer p a y m e n ts ................................................................. To governm ent ............................................................................................. To the rest of the world ( n e t ) ...................................................................... 8,214.3 987.8 2,368.3 4,858.2 186.7 111.5 68.6 42.9 8,745.7 1,026.5 2,564.4 5,154.9 205.9 120.4 74.8 45.6 8,416.1 1,008.6 2,437.1 4,970.4 196.2 112.7 71.0 41.7 8,535.8 1,017.3 2,476.6 5,041.8 198.1 120.8 72.5 48.3 8,677.0 1,035.5 2,533.7 5,107.8 205.3 118.8 73.9 44.9 8,844.0 1,050.9 2,604.9 5,188.3 210.1 119.9 75.4 44.4 8,926.2 1,002.1 2,642.5 5,281.6 210.2 122.1 77.3 44.8 9,081.7 1,047.6 2,687.7 5,346.4 213.7 121.5 79.2 42.3 E q u a ls : P e r s o n a l s a v in g ................................................................................................. 1 5 1 .8 -4 2 .1 2 0 5 .4 4 7 .4 -2 1 .5 -1 4 3 .9 -5 0 .5 -1 2 8 .1 1.8 -.5 2 .3 .5 -.2 - 1 .6 -.5 -1 .4 8,004.3 8,112.2 8,169.2 8,098.1 8,102.6 8,074.2 8,175.6 8,206.7 29,477 27,232 293,933 30,437 27,344 296,677 30,269 27,689 295,037 30,111 27,391 295,643 30,307 27,347 296,289 30,401 27,183 297,027 30,926 27,458 297,748 31,135 27,508 298,340 L e s s : P e r s o n a l o u tla y s P e r s o n a l s a v in g a s a p e r c e n ta g e o f d is p o s a b le p e r s o n a l In c o m e ........... A ddenda: Disposable personal income: Total, billions of chained (2000) dollars 2 .................................................... Per capita: C urrent dollars ......................................................................................... Chained (2000) dollars ............................................................................ Population (midperiod, thousands)3 ................................................................ r R e v i se d 3 . Po p u l a t i o n i s t h e t ot a l p o p u l a t i o n o f t h e U n i t e d St a t e s, i n c l u d i n g t h e A r m e d F o r c e s o v e r s e a s a n d t h e i n st i t u - 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. t ionalized 2. E q u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i c i t p r i c e d e f l a t o r f o r p e r s o n a l c o n su m p t i o n e x p e n d i t u r e s. t h e f o l l o w i n g m o n t h ; t h e a n n u a l a n d q u a r t e r l y e st i m a t e s a r e a v e r a g e s o f t h e m o n t h l y e st i m a t e s. p op ulat ion. The m o n t h l y e st i m a t e is t he av e r a ge o f e st i m a t e s f o r t h e f i r st o f t h e m o n t h a n d t h e f ir st o f T a b le 3 .— P e r s o n a l In c o m e and Its D is p o s itio n , C hange fro m P r e c e d in g P e r io d (M o n th s ) [Billions of dollars] Seasonally adjusted at annual rates 2005 Oct. P e r s o n a l in c o m e ................................................................................................................ 2006 Nov. Dec. J a n .r F eb .r M a r.r A p r .' M ay? 1 9 .9 2 2 .2 5 1 .9 63.1 3 3 .5 3 9 .2 7 6 .2 3 8 .3 ................................................................ - 6 .8 - 3 .4 2 8 .8 5 5 .7 3 7 .4 3 0 .4 5 8 .3 5 .0 ....................................................................... -8 .3 - 4 .8 25.1 3 8 .8 2 8 .8 2 2 .3 Private industries ..................................................................................... Goods-producing in d u s trie s .................................................................. M a n u fa c tu rin g ................................................................................... Services-producing industries .............................................................. Trade, transportation, and u t ilitie s ................................................... Other services-producing industries ................................................ G o v e rn m e n t......................................................... ........................... 4 9 .4 1 .8 -9 .3 .4 2.7 -9 .7 -2 .3 -7 .4 1.1 -7 .6 -4 .4 -7 .3 -3 .2 2.1 -5 .2 2.6 23.6 3.3 1.0 20.3 2.9 17.3 1.6 34.6 4.5 1.3 30.1 5.0 25.1 4.2 25.6 4.0 2.4 21.7 3.3 18.4 3.2 20.6 2.2 1.1 18.3 3.2 15.1 1.7 48.0 8.3 5.2 39.7 9.3 30.3 1.4 .2 2.3 -.5 - 2 .0 -4 .4 2.5 1.5 C o m p e n s a t io n o f e m p lo y e e s , r e c e iv e d W a g e a n d s a la r y d is b u r s e m e n t s S u p p le m e n t s to w a g e s a n d s a la r ie s ................................................................ 1.4 1 .5 3 .7 1 6 .9 8 .5 8 .2 8 .9 Em ployer contributions fo r employee pension and insurance fu n d s ...... Em ployer contributions for governm ent social in s u ra n c e ........................ 2.0 - .4 3 .2 2.1 - .7 2.3 1.4 9.5 7.4 7.0 1.6 6.9 1.2 5.9 3.0 3.4 -.2 2 .9 6 .6 6.1 2 .4 -1 .8 5 .6 .2 1.4 1.5 6 .4 1.9 4.7 1.9 4.2 -5 .4 7.8 -2 .4 .6 -2 .3 7.9 -2 .3 2.5 -2 .9 9.3 -2 .5 -3 .7 - 4 .0 -4 .3 .6 1 6 .3 1 6 .6 - 3 .7 4.2 11.8 4.4 11.8 4.9 P r o p r ie t o r s ’ in c o m e w ith in v e n t o r y v a lu a t io n a n d c a p it a l c o n s u m p tio n a d j u s t m e n t s ........................................ Farm .............................................................. Nonfarm ............................................ R e n t a l in c o m e o f p e r s o n s w ith c a p it a l c o n s u m p t i o n a d j u s t m e n t ............. -4 .3 3 .4 - 3 .8 -6 .7 P e r s o n a l in c o m e r e c e ip ts o n a s s e t s ..................................................................... 1 8 .0 1 8 .0 18.1 .6 Personal interest income .............................................................................. Personal dividend in c o m e ............................................................................. 12.8 5.2 12.9 5.2 12.8 5.1 -3 .6 4.3 .......................................................................... 9 .0 -3 .4 5 .8 2 8 .9 4 .7 8 .9 1 1 .8 G overnm ent social benefits to p e rs o n s ........................................................ Old-age, survivors, disability, and health insurance benefits ................. G overnm ent unemploym ent insurance benefits ...................................... O ther ................................................. Other current transfer receipts, from business (net) .................................. 1 4 .6 6.1 2.9 .7 2.6 2.9 7.5 .5 -1.1 8.1 -1 0 .9 5.8 10.2 - .9 -3 .6 0 29.1 42.8 -1 .4 -1 2 .3 4.7 11.7 -1 .2 - 5 .7 0 8.8 9.5 0 - .7 .1 11.8 5.3 - .3 6.8 0 14.6 9.4 0 5.3 0 -1 .0 - 1 .0 3 .0 1 7 .9 4 .3 2 .6 6 .5 4 .7 1 .9 7 .0 4 3 .9 1 0 .8 9 .8 2 3 .8 6 .7 P e r s o n a l c u r r e n t tr a n s f e r r e c e ip t s L e s s : C o n t r ib u t io n s fo r g o v e r n m e n t s o c ia l in s u r a n c e .................................. L e s s : P e r s o n a l c u r r e n t ta x e s ............................. E q u a ls : D is p o s a b le p e r s o n a l in c o m e L e s s : P e r s o n a l o u tla y s ........................................................................ E q u a ls : P e r s o n a l s a v in g -3 .7 3.8 0 1 5 .2 2 0 .3 4 4 .9 1 9 .2 2 2 .7 2 9 .4 5 2 .4 3 1 .6 2 3 .4 4 2 .2 6 3 .3 7 1 .3 2 2 .9 4 6 .7 6 6 .2 41 .1 22.5 -25 .6 14.6 33.6 -.2 1.1 .7 .4 41.8 35.4 -2 6 .0 32.3 - .3 .6 .7 0 63.0 39.7 3.3 20.1 - .2 .6 .6 0 71.2 18.8 51.8 .6 1.9 -1 .8 .6 -2 .5 20.4 -1 9 .2 -7 .2 46.7 1.8 .6 .7 0 44.3 3.6 14.0 26.7 1.9 .6 .6 0 65.3 3.1 41.0 21.2 .2 .7 .6 0 40.3 -6.1 17.8 28.6 .3 .6 .6 0 - 8 .1 -2 1 .9 -1 8 .4 -5 2 .1 -.2 -1 7 .3 -1 3 .8 -9 .4 -4 .8 53.2 40.5 -2 3 .5 17.1 -4 .5 6.7 -2 .5 ............................................... Personal consumption expenditures ................................................................. Durable g o o d s ......................... Nondurable g o o d s ............................................ Services .................................. Personal interest pa ym e nts 1 ............................................................................ Personal current transfer p a y m e n ts .................................................................. To governm ent .............................................. To the rest of the world (net) ....................................................................... -.2 0 ......................................... A ddendum : Real disposable personal income, billions of chained (2000) dollars 2 ........... p Pr e l i m i n a r y r Re v i se d 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2 . E q u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i c i t p r i c e d e f l a t o r f or p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. T a b le 4 — P e r s o n a l In c o m e and Its D is p o s itio n , C hange fro m P r e c e d in g P e r io d (Y e a rs and Q u a rte rs ) [Billions of dollars] Seasonally adjusted at annual rates 2004 2005 2004 2005 IV P e r s o n a l in c o m e .............................................................................................................. I II 2006 III IV I' 5 4 4 .2 5 2 4 .4 2 9 5 .6 4 8 .6 1 1 2 .3 6 4 .7 1 9 0 .7 1 4 0 .5 ............................................................... 3 6 6 .5 4 2 5 .5 1 7 1 .6 1 0 5 .9 5 8 .5 1 1 7 .4 3 5 .3 1 0 8 .9 ...................................................................... 2 7 8 .3 3 2 2 .9 1 4 0 .9 6 7 .0 4 2 .4 9 0 .0 2 2 .3 Private industries .................................................................................... Goods-producing in d u s trie s ................................................................. M anu fa cturing ................................................................................. Services-produclng industries ............................................................. Trade, transportation, and u tilitie s .................................................. Other services-producing industries ............................................... G o ve rn m e nt............................................................................................. 8 0 .5 242.2 42.7 19.0 199.5 41.1 158.4 36.2 290.7 67.5 32.3 223.2 54.2 169.1 32.1 133.7 20.7 11.7 113.1 24.8 88.3 7.2 55.2 16.2 7.5 38.9 6.7 32.2 11.8 36.9 8.0 .2 29.1 13.3 15.8 5.5 82.3 22.8 9.2 59.5 11.7 47.7 7.7 15.0 3.0 -.2 11.9 1.0 11.0 7.3 71.7 8.7 1.5 63.1 10.9 52.2 8.8 ............................................................... 88.1 1 0 2 .7 3 0 .6 3 8 .9 16.1 2 7 .4 1 3 .0 Employer contributions for employee pension and insurance fu n d s ...... Employer contributions for governm ent social In s u ra n c e ........................ 65.5 22.7 21.7 9.0 30.4 8.5 14.4 1.6 22.4 5.0 2 8 .3 79.5 23.1 12.1 .9 18.8 9.6 C o m p e n s a tio n o f e m p lo y e e s , r e c e iv e d W a g e a n d s a la ry d is b u r s e m e n ts S u p p le m e n ts to w a g e s a n d s a la r ie s P r o p r ie t o r s ’ in c o m e w ith in v e n to r y v a lu a tio n a n d c a p ita l c o n s u m p tio n a d j u s t m e n t s .............................................................................................................. 7 9 .4 49.1 11 .8 1 7 .0 1 8 .7 - 4 .2 3 5 .3 Farm ........................................................................................................... Nonfarm ...................................................................................................... 9 .4 8.1 71.4 -1 5 .0 64.0 -5.1 16.9 .1 16.9 -5.1 23.9 -1 .6 -2 .8 3.0 32.4 -5 .9 15.2 R e n ta l in c o m e o f p e r s o n s w ith c a p it a l c o n s u m p tio n a d j u s t m e n t .............. 2 .5 -6 1 .3 6.6 -1 0 .7 -1 3 .6 -1 1 5 .5 9 1 .4 -1 1 .0 .................................................................... 5 7 .8 6 0 .9 1 1 5 .4 -8 5 .7 3 1 .9 29 .1 4 4 .0 1 8 .9 Personal interest Income ............................................................................ Personal dividend in c o m e ........................................................................... -1 1 .7 69.5 39.8 21.1 2.7 112.7 8.0 -9 3 .7 20.6 11.3 15.2 13.8 28.9 15.3 5.5 13.3 ........................................................................ 8 3 .5 9 7 .8 7 .7 3 9 .6 2 0 .8 4 8 .5 -1 3 .4 3 7 .7 Government social benefits to p e rs o n s ....................................................... Old-age, survivors, disability, and health Insurance b e n e fits ................. Government unemployment insurance benefits ..................................... Other ...................................................................................................... Other current transfer receipts, from business (net) .................................. 81.0 50.0 -1 6 .8 47.8 2.5 89.2 55.4 -7.1 40.9 8.6 22.4 11.8 -.9 11.4 -14 .6 40.2 22.5 -3 .0 20.7 - .7 20.7 14.2 -1 .4 8.0 .1 2.8 7.9 .5 -5 .6 45.6 28.3 8.5 1.2 18.7 -41 .7 41.6 60.6 -3 .2 -1 6 .0 -3 .8 2 3 .3 P e r s o n a l in c o m e re c e ip ts o n a s s e ts P e r s o n a l c u r re n t t r a n s fe r r e c e ip ts .................................. 4 5 .6 4 7 .5 1 7 .6 1 7 .5 3 .9 1 0 .5 2 .0 L e s s : P e r s o n a l c u r re n t ta x e s ....................................................................................... L e s s : C o n tr ib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e 4 9 .2 1 5 8 .6 3 5 .9 77.1 3 4 .6 1 4 .4 12.7 5 9 .7 4 9 5 .0 3 6 5 .7 2 5 9 .5 -2 8 .4 7 7 .7 5 0 .3 1 7 8 .0 8 0 .8 E q u a ls : D is p o s a b le p e r s o n a l in c o m e L e s s : P e r s o n a l o u tla y s ....................................................................... ................................... ......................... ..................................... 5 1 6 .2 5 5 9 .6 1 5 8 .7 1 2 9 .6 1 4 6 .6 1 7 2 .7 8 4 .6 1 5 8 .4 Personal consumption expenditures ............................................................... Durable g o o d s ............................................................................................. Nondurable goods ................................... :.................................................. Services ...................................................................................................... Personal interest pa ym ents1 .......................................................................... Personal current transfer p a y m e n ts ................................................................ To government ............................................................................................ To the rest of the world (net) ..................................................................... 504.4 37.7 179.3 287.4 3.5 8.2 6.5 1.7 531.4 38.7 196.1 296.7 19.2 8.9 6.2 2.7 152.9 14.8 58.7 79.4 5.9 -.1 1.6 -1 .7 119.7 8.7 39.5 71.4 1.9 8.1 1.5 6.6 141.2 18.2 57.1 66.0 7.2 -2 .0 1.4 -3 .4 167.0 15.4 71.2 80.5 4.8 1.1 1.5 - .5 82.2 -48.8 37.6 93.3 .1 2.2 1.9 .4 155.5 45.5 45.2 64.8 3.5 - .6 1.9 -2 .5 E q u a ls : P e rs o n a l s a v in g ................................................................................................ -2 1 .0 -1 9 3 .9 1 0 0 .8 -1 5 8 .0 -6 8 .9 -1 2 2 .4 9 3 .4 -7 7 .6 262.5 107.9 175.9 -71.1 4.5 -2 8 .4 101.4 31.1 A ddendum : Real disposable personal Income, billions of chained (2000) do lla rs 2 ........... r R e v i se d 1. C o n s i s t s o f n o n m o r t g a g e i n t e r e st p a i d b y h o u se h o l d s. 2. E q u a l s d i sp o sa b l e p e r so n a l i n c o m e d e f l a t e d b y t h e i m p l i ci t p r i c e d e f l a t o r f o r p e r so n a l c o n su m p t i o n e x p e n d i t u r e s. T a b le 5 — P e rs o n a l In c o m e and Its D is p o s itio n , P e rc e n t C h a n g e fro m P r e c e d in g P e r io d (M o n th s ) Seasonally adjusted at monthly rates 2005 Oct. 2006 Nov. Dec. J a n .r M a r.r F eb .r A p r.'’ May** Based on current-dollar measures P er so n al in c o m e ...................................................... 0 .2 0 .2 0 .5 0 .6 0 .3 0 .4 Com pensation of employees, re c e iv e d ............................................................. Wage and salary disbursem ents .................................................................. 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 a s s e ts ............ Personal interest income ............................................................................. Personal dividend in c o m e ......................................................................... Personal current transfer re c e ip ts ..................................................................... 0 .7 -.1 -.1 .1 0 .4 0 -.1 .1 .4 .4 .3 .8 .7 1.2 .5 .5 .6 .4 .4 .6 .8 1 o .2 .3 -5.1 1.2 1.3 1.0 .6 .7 4.3 1.2 1.3 1.0 - .2 .6 -4 .7 1.2 1.3 1.0 - .2 -3 .4 O - .4 .7 .3 .6 - 5 .3 0 .4 .2 -8 .5 0 - .4 .8 1.9 .8 .6 0 -6.1 1.1 1.2 .8 .7 Less: Contributions fo r governm ent social insurance ...................................... -.1 -.1 .3 2.0 .5 .3 .7 L ess: P e rs o n al c u rre n t ta x e s ................. .4 .2 .6 3 .5 .8 .8 1.8 .5 E q u als: D isp o sa b le p e rs o n a l in c o m e .................................................................. .2 .2 .5 .2 .2 .3 .6 .3 Personal consumption expenditures ................................................................. Durable g o o d s ................................ Nondurable goods .......................... Services ...................................... .3 -2 .6 .6 .6 .5 3.7 - 1 .0 .6 .7 4.0 .1 .8 1.8 2.0 0 .2 -1 .8 - .3 .5 .3 .5 .5 .7 .3 1.5 .4 .4 -6 .7 .1 0 .8 .6 -.4 .7 -6 .9 1.1 12 9 .9 0 A d d en d a: .4 .9 .5 Based on chained (2000) dollar measures Real disposable personal income ..................................................................... -.1 .7 .5 - .3 .2 -.1 r Pr e l i m i n a r y r Re v i se d Table 6.— Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates 2004 2005 2004 2005 IV I II 2006 III IV lr Based on current-dollar measures P e r s o n a l in c o m e ....................... Compensation of employees, re c e iv e d ................... Wage and salary disbursem ents ................................................................. 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 a s s e ts ....... Personal interest income ............. Personal dividend income ....................... Personal current transfer r e c e ip ts ..................................................................... Less: Contributions for governm ent social Insurance ...................................... L e s s : P e rs o n a l c u rre n t ta x e s ............................ E q u a ls : D is p o s a b le p e r s o n a l in c o m e ........................................................................ 5.9 5 .4 1 2 .7 2 .0 4 .5 2 .6 7 .6 5.8 5.4 7.3 5 .5 6.4 6.0 7.9 10.6 10.8 9.8 6.3 4.9 12.2 3.4 3.0 4.8 6.8 6.5 8.1 2.0 1.6 3.7 6.2 5.7 8.2 9.8 1.9 4.3 -1 .3 16.5 6.2 5.5 -4 5 .7 4.4 4.4 4.3 6.8 5.4 23.6 37.9 1.2 134.9 2.2 7.8 -2 9 .5 -2 1 .0 3.6 -5 0 .2 11.4 8.4 -3 8 .6 9.4 9.3 9.5 5.7 -1 .8 16.0 8.3 6.7 11.4 13.5 12.6 12.7 12.3 - 3 .4 3.9 -4 4 5 5.1 2.3 10.4 10.1 5.9 5.8 8.8 8.5 1.8 4.9 .9 11.1 4 .9 15.1 1 4 .3 3 1 .3 1 2 .4 4 .8 4 .2 2 0 .8 6.1 4 .2 1 2 .5 -1 .3 3 .5 2 .3 8.1 3 .6 6.5 4.0 8.2 6.3 6.5 3.9 8.3 6.1 7.6 6.1 10.3 6.7 5.8 3.5 6.6 5.9 6.8 7.3 9.5 5.3 7.9 6.1 11.7 6.5 3.8 -1 7 .3 5.9 7.4 7.2 19.4 7.0 5.0 5.1 1.5 A ddenda: Personal consumption expenditures ............. Durable goods ................ Nondurable goods .......................... Services ............................ Based on chained (2000) dollar measures Real disposable personal income .............. r Re v i se d 3.4 1.3 9.1 - 3 .4 .2 -1 .4 Table 7 — Real Personal Consumption Expenditures by Major Type of Product (Months) 2005 Oct. 2006 Nov. Dec. Jan.'- M a r .' F e b .r A p r .' M ay* Billions of chained (2000) dollars, seasonally adjusted at annual rates ...................................................... 7 ,8 5 9 .1 Durable goods ................................................................................. Nondurable goods ............................................................................ Services ........................................................................................... 7 ,9 3 0 .2 7 ,9 8 6 .8 8 ,0 1 0 .5 8 ,0 2 5 .6 8 ,0 3 4 .9 1,074.9 2,316.7 4,463.7 8 ,0 5 3 .8 1,116.4 2,338.8 4,483.8 1,161.9 2,347.2 4,495.1 1,182.0 2,370.7 4,480.2 1,162.1 2,368.6 4,511.6 1,167.8 2,364.0 4,520.6 8 ,0 5 9 .4 1,171.1 2,373.3 4,527.4 1,164.5 2Í371.9 4,539.0 P e r s o n a l c o n s u m p tio n e x p e n d itu r e s Change from preceding period in billions of chained (2000) dollars, seasonally adjusted at annual rates P e r s o n a l c o n s u m p tio n e x p e n d itu r e s ...................................................... 2 .2 Durable goods .................................... Nondurable goods ............................................................................ Services ........................................................................................... 71.1 5 6 .6 2 3 .7 15.1 9 .3 -2 8 .7 20.0 4.2 1 8 .9 41.5 22.1 15.1 5 .6 45.5 8.4 11.3 20.1 23.5 -1 4 .9 -1 9 .9 -2.1 31.4 5.7 -4 .6 9.0 3.3 9.3 6.8 -6 6 -1 .4 11.6 Percent change from preceding period in chained (2000) dollars, seasonally adjusted at m onthly rates P e r s o n a l c o n s u m p tio n e x p e n d itu r e s ....................................................... Durable goods ....................................................... Nondurable goods ...................................... Services .................................................. 0 .9 .7 .3 .2 .1 .2 .1 -2 .6 .9 .1 3.9 1.0 .3 4.1 .4 .3 1.7 1.0 - .3 - 1 .7 -.1 .7 .5 - .2 .2 .3 .4 .1 -.6 -1 .3 p Pr e l i m i n a r y ' R e v i se d Table 8.— Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates 2004 2005 2004 2005 IV I II 2006 III IV lr Billions o f chained (2000) dollars P e r s o n a l c o n s u m p tio n e x p e n d itu r e s ...................................................... Durable goods ................................. Nondurable goods .................................. Services .................................................. 7 ,5 8 8 .6 7 ,8 5 6 .9 7 ,6 9 8 .8 7 ,7 6 4 .9 7 ,8 2 9 .5 7 ,9 0 7 .9 7 ,9 2 5 .4 1,089.9 2,200.4 4,310.9 1,138.4 2,297.9 4,436.4 8 ,0 2 3 .6 1,115.1 2,236.5 4,362.1 1,122.3 2,265.6 4,392.0 1,143.9 2,285.9 4,417.6 1,169.7 2,305.8 4,453.5 1,117.7 2,334.2 4,482.6 1,170.6 2,367.8 4,504.2 Change from preceding period in billions of chained (2000) dollars P e rs o n a l c o n s u m p tio n e x p e n d itu r e s ...................................................... Durable goods ..................... Nondurable goods ............... Services ............................................... 2 8 2 .0 2 6 8 .3 8 1 .3 66.1 6 4 .6 7 8 .4 61.4 98.6 127.0 1 7 .5 9 8 .2 48.5 97.5 125.5 14.7 29.6 38.1 7.2 29.1 29.9 21.6 20.3 25.6 25.8 19.9 35.9 -5 2 .0 28.4 29.1 52.9 33.6 21.6 Percent change from preceding period in chained (2000) dollars P e rs o n a l c o n s u m p tio n e x p e n d itu r e s Durable goods .................... Nondurable goods ................ Services ............................. r Re v i se d ...................................................... 3 .9 3 .5 4 .3 3 .5 3 .4 4.1 .9 6.0 4.7 3.0 5.1 4.5 4.4 2.9 5.5 5.5 3.6 2.6 5.3 2.8 7.9 3.6 2.3 9.3 3.5 3.3 -16.6 5.0 2.6 20.3 5.9 1.9 T a b le 9 — P r ic e In d e x e s fo r P e r s o n a l C o n s u m p tio n E x p e n d itu r e s : Level and P e rc e n t C h a n g e F ro m P r e c e d in g 2005 Oct. P e r io d (M o n th s ) 2006 Nov. Dec. J a n .' F e b .' M a r .' A p r .' M ayp C hain-type price indexes (2000=100), seasonally adjusted P e r s o n a l c o n s u m p tio n e x p e n d it u r e s ( P C E ) ................. Durable goods .................................. Nondurable goods ............................. Services ....................................... 112.964 89.804 114.769 117.568 112.477 89.637 112.574 117.892 112.470 89.537 112.310 118.042 113.026 89.609 113.384 118.449 113.069 89.496 113.184 118.659 113.489 89.364 113.997 119.015 114.033 89.386 115.279 119.306 114.453 89.360 116.098 119.630 109.936 112.034 108.156 110.101 111.430 108.304 110.249 111.394 108.447 110.446 111.959 108.583 110.574 111.958 108.672 110.938 112.381 109.028 111.215 112.933 109.261 111.457 113 386 109.510 A ddenda: PCE excluding food and e n e r g y ............................................................. Market-based PCE 1 .......................... Market-based PCE excluding food and e n e rg y 1 . . Percent change from preceding period in price indexes, seasonally adjusted at m onthly rates PCE ...................................................... Durable goods ............................... Nondurable goods .......................... Services ....................................... .2 0 - .3 .5 - .4 - .2 - 1 .9 .3 0 -.1 -.2 .1 .5 .1 1.0 .3 0 -.1 - .2 .2 .4 -.1 .7 .3 .5 0 1.1 .2 .3 .2 .2 .2 - .5 .1 .1 0 .1 .2 .5 .1 .1 0 .1 .3 .4 .3 .2 .5 .2 4 0 7 .3 A ddenda: PCE excluding food and e n e r g y ....................................................................... M arket-based P C E 1 ................. M arket-based PCE excluding food and e n e rg y 1 .. 2 4 .2 p Pr e l i m i n a r y r Re v i se d 1. T h i s i n d e x i s a su p p l e m e n t a l m e a su r e t h a t i s b a s e d o n h o u se h o l d e x p e n d i t u r e s f o r w h i c h t h e r e a r e o b se r v a b l e pr ice m e a su r e s. It e x c l u d e s m o st im plicit p r i c e s (f o r e x am p l e , t h e s e r v i c e s f u r n i sh e d w it hout p aym ent by f in an ci al i n t e r m e d i a r i e s) a n d t h e e x p e n se s o f n o n p r o f i t i n st i t u t i o n s. Table 1 0 — Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2005 Oct. D is p o s a b le p e r s o n a l in c o m e ................................ P e r s o n a l c o n s u m p t io n e x p e n d itu r e s Durable goods .................... Nondurable goods .................. Services ............................. 2006 Nov. Dec. J a n .' F e b .' M a r .' A p r.' M ayp 1.0 1.3 -2.1 1.4 1.4 1.3 1.7 1.4 2.5 -2 .3 3.6 2.8 3.2 .9 4.8 2.8 3.2 2.1 4.8 2.7 3.5 6.9 4.7 2.2 3.2 3.5 4.1 2.8 3.3 2.6 4.8 2.7 3.2 1.3 4.4 3.0 3.3 47 4.0 2.7 p Pr e l i m i n a r y r Re v i se d Table 11.— Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2005 Oct. 2006 Nov. Dec. J a n .' F e b .' M a r .' A p r .' M ayp P ers on al c o n s u m p tio n e xp e n d itu re s (PCE) ....... Durable goods ........................... Nondurable goods ...................... Services .......................... 3.5 - .7 5.2 3.5 2.8 - .9 3.1 3.4 2.8 -1.1 3.3 3.3 3.1 -1 .2 4.3 3.4 2.9 -1 .2 3.7 3.3 2.9 -1 .3 3.4 3.4 2.9 -1 .2 3.6 3.4 3.3 -1 5 4.8 3.4 A dd en da : PCE excluding food and e n e r g y ....................................................................... M arket-based P C E 1 ................. M arket-based PCE excluding food and e n e rg y 1 ................... 2.0 3.5 1.7 1.9 2.7 1.6 2.0 2.7 1.7 1.9 3.1 1.5 1.8 2.8 1.5 2.0 2.8 1.6 2.1 2.8 1.8 2.1 32 1.8 p Pr e l i m i n a r y r Re v i se d 1. T h i s i n d e x i s a su p p l e m e n t a l m e a su r e t ha t i s b a s e d o n h o u se h o l d e x p e n d i t u r e s f o r w h i c h t h e r e a r e o b se r v a b l e pnce m e a s u r e s. It e x c l u d e s m o st i m p l i ci t p r i ce s (f or e x a m p l e , i n t e r m e d i a r i e s) a n d t h e e x p e n se s o f n o n p r o f i t i n st i t u t i o n s. t h e s e r v i c e s f u r n i sh e d w it ho ut paym ent by f in an ci al