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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, MONDAY, DECEMBER 23, 2013 BEA 13-65 James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov PERSONAL INCOME AND OUTLAYS: NOVEMBER 2013 Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion, or 0.4 percent, based on revised estimates. Real disposable personal income increased 0.1 percent in November, in contrast to a decrease of 0.2 percent in October. Real PCE increased 0.5 percent in November, compared with an increase of 0.4 percent in October. 2013 July Aug. Sept. Oct. Nov. (Percent Change from preceding month) Personal income, current dollars 0.1 0.5 0.4 -0.1 0.2 Current dollars 0.3 0.6 0.5 -0.2 0.1 Chained (2009) dollars 0.2 0.5 0.4 -0.2 0.1 Current dollars 0.2 0.3 0.3 0.4 0.5 Chained (2009) dollars 0.1 0.2 0.2 0.4 0.5 Disposable personal income: Personal consumption expenditures: __________________ NOTE. Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Monthto-month percent changes are calculated from unrounded data and are not annualized. "Real" estimates are in chained (2009) dollars. This news release is available on BEA's Web site at www.bea.gov/newsreleases/rels.htm. -2- Wages and salaries Private wages and salaries increased $26.1 billion in November, compared with an increase of $9.9 billion in October. Goods producing industries' payrolls increased $8.3 billion, compared with an increase of $1.4 billion; manufacturing payrolls increased $4.8 billion, compared with an increase of $1.5 billion. Services-producing industries' payrolls increased $17.8 billion, compared with an increase of $8.6 billion. Government wages and salaries increased $1.0 billion, in contrast to a decrease of $0.1 billion. Other personal income Supplements to wages and salaries increased $3.3 billion in November, compared with an increase of $2.3 billion in October. Proprietors' income decreased $5.0 billion in November, compared with a decrease of $18.1 billion in October. Farm proprietors' income decreased $12.0 billion in November, compared with a decrease of $22.2 billion in October. Nonfarm proprietors' income increased $7.0 billion, compared with an increase of $4.0 billion. Rental income of persons increased $1.9 billion in November, compared with an increase of $2.1 billion in October. Personal income receipts on assets (personal interest income plus personal dividend income) increased $5.9 billion, in contrast to a decrease of $5.4 billion. Personal current transfer receipts increased $0.6 billion, in contrast to a decrease of $1.0 billion Contributions for government social insurance -- a subtraction in calculating personal income -increased $3.7 billion in November, compared with an increase of $1.4 billion in October. Personal current taxes and disposable personal income Personal current taxes increased $14.0 billion in November, compared with an increase of $13.8 billion in October. Disposable personal income (DPI) -- personal income less personal current taxes -increased $16.2 billion, or 0.1 percent in November, in contrast to a decrease of $25.6 billion, or 0.2 percent in October. - more - -3- Personal outlays and savings Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $62.6 billion in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an increase of $44.2 billion. Personal saving -- DPI less personal outlays -- was $525.4 billion in November, compared with $571.8 billion in October. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.2 percent in November, compared with 4.5 percent in October. For a comparison of personal saving in BEA's national income and product accounts with personal saving in the Federal Reserve Board's financial accounts of the United States (formerly called flow of funds accounts) and data on changes in net worth, go to www.bea.gov/national/nipaweb/nipa-frb.asp. Real DPI, real PCE, and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.1 percent in November, in contrast to a decrease of 0.2 percent in October. Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in November, compared with an increase of 0.4 percent in October. Purchases of durable goods increased 2.2 percent in November, compared with an increase of 1.2 percent in October. Purchases of motor vehicles and parts accounted for over half of the November increase. Purchases of nondurable goods decreased less than 0.1 percent in November, in contrast to an increase of 0.8 percent in October. Purchases of services increased 0.4 percent, compared with an increase of 0.1 percent. The price index for PCE increased less than 0.1 percent in November, in contrast to a decrease of less than 0.1 percent in October. The PCE price index, excluding food and energy, increased 0.1 percent in November, the same increase as in October. - more - -4- Revisions Estimates for personal income and DPI have been revised for July through October. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for September and October -- revised and as published in last month's release -- are shown below. Change from preceding month September October Previous Revised Previous (Billions of dollars) Revised (percent) Previous Revised (Billions of dollars) Previous Revised (percent) Personal income: Current dollars 64.3 63.1 0.5 0.4 -10.8 -11.7 -0.1 -0.1 Current dollars 62.1 62.2 0.5 0.5 -23.6 -25.6 -0.2 -0.2 Chained (2009) dollars 44.7 44.8 0.4 0.4 -18.5 -20.9 -0.2 -0.2 Current dollars 23.8 37.4 0.2 0.3 32.7 44.2 0.3 0.4 Chained (2009) dollars 10.1 22.8 0.1 0.2 33.5 43.8 0.3 0.4 Disposable personal income: Personal consumption expenditures: 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 free e-mail summaries of BEA releases and announcements. * * * Next release – January 31, 2014 at 8:30 A.M. EST for Personal Income and Outlays for December Release Dates for 2014 December 2013.. January 31 January 2014….. March 3 February 2014… March 28 March 2014…… May 1 April 2014…May 30 May 2014… June 26 June 2014… August 1 July 2014…. August 29 - more - August 2014…… September 29 September 2014.. October 31 October 2014….. November 26 November 2014.. December 23 Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2013 April 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 6...................................................... May June July r Line Aug. r Sept. r Oct. r Nov. p 14,031.9 14,088.3 14,138.4 14,157.8 14,228.8 14,291.9 14,280.2 14,310.3 1 8,803.2 8,830.4 8,872.9 8,848.9 8,894.5 8,924.5 8,936.6 8,967.0 2 7,088.6 7,112.9 7,151.4 7,127.6 7,168.7 7,194.9 7,204.7 7,231.8 3 5,894.2 5,918.2 5,958.3 5,941.5 5,980.0 5,997.9 6,007.8 6,033.9 4 1,180.9 1,186.2 1,194.4 1,189.8 1,198.7 1,203.4 1,204.8 1,213.1 5 743.9 744.8 749.2 744.5 750.8 752.8 754.3 759.1 6 4,713.3 4,732.1 4,763.9 4,751.6 4,781.3 4,794.4 4,803.0 4,820.8 7 1,119.9 1,123.3 1,126.5 1,124.9 1,135.7 1,136.6 1,139.5 1,144.6 8 3,593.4 3,608.7 3,637.4 3,626.7 3,645.6 3,657.8 3,663.5 3,676.2 9 1,194.4 1,194.6 1,193.1 1,186.2 1,188.7 1,197.0 1,196.9 1,197.9 10 1,714.5 1,717.5 1,721.4 1,721.3 1,725.8 1,729.6 1,731.9 1,735.2 11 1,185.9 528.6 1,187.6 529.9 1,189.2 532.2 1,190.8 530.4 1,193.1 532.8 1,195.2 534.4 1,197.1 534.8 1,198.9 12 536.3 13 1,355.7 1,342.9 1,325.8 1,341.3 1,358.6 1,382.1 1,364.0 1,359.0 14 148.9 129.0 109.0 118.7 128.3 148.1 125.9 113.9 15 1,206.8 1,213.9 1,216.8 1,222.7 1,230.3 1,234.1 1,238.1 1,245.1 16 585.1 587.7 590.2 592.5 596.0 601.2 603.3 605.2 17 1,971.5 1,995.2 2,015.2 2,031.3 2,028.7 2,032.2 2,026.8 2,032.7 18 1,214.9 1,225.6 1,236.3 1,235.2 1,234.2 1,233.1 1,233.2 1,233.3 19 756.6 769.6 779.0 796.0 794.6 799.0 793.5 799.4 20 2,416.1 2,434.9 2,441.8 2,448.3 2,460.6 2,465.1 2,464.1 2,464.7 21 2,371.9 2,390.4 2,397.2 2,403.6 2,415.7 2,420.0 2,418.9 2,419.4 22 785.8 797.3 801.4 799.1 803.9 804.1 803.5 809.8 23 583.4 586.0 589.4 593.0 596.6 599.8 598.4 598.3 24 423.7 427.7 426.9 434.5 440.2 440.3 440.7 441.2 25 70.4 68.5 66.6 64.7 62.4 59.6 59.8 58.5 26 78.0 80.3 81.6 80.5 81.1 83.4 83.6 83.1 27 430.5 430.7 431.3 431.7 431.5 432.9 432.9 428.5 28 44.3 44.4 44.5 44.7 44.9 45.0 45.2 45.3 29 1,099.7 1,102.6 1,107.5 1,104.5 1,109.6 1,113.2 1,114.6 1,118.3 30 1,656.2 1,668.9 1,681.4 1,659.4 1,656.5 1,657.4 1,671.2 1,685.2 31 12,375.7 12,419.4 12,457.0 12,498.4 12,572.3 12,634.5 12,608.9 12,625.1 32 11,806.4 11,822.9 11,881.6 11,906.7 11,951.1 11,993.3 12,037.2 12,099.8 33 11,392.4 11,413.0 11,476.0 11,498.8 11,538.4 11,575.8 11,620.0 11,683.0 34 3,825.0 3,840.2 3,880.3 3,900.5 3,912.8 3,925.1 3,948.6 3,964.1 35 1,250.2 1,254.8 1,267.4 1,267.3 1,285.2 1,269.4 1,281.8 1,306.7 36 2,574.8 2,585.4 2,612.9 2,633.1 2,627.7 2,655.7 2,666.8 2,657.4 37 7,567.3 7,572.9 7,595.7 7,598.3 7,625.6 7,650.7 7,671.4 7,718.9 38 248.7 244.3 239.8 244.3 248.8 253.3 252.7 252.0 39 165.4 165.6 165.8 163.6 163.9 164.2 164.5 164.8 40 89.7 89.9 90.1 90.4 90.7 91.0 91.3 91.6 41 75.7 75.7 75.7 73.2 73.2 73.2 73.2 73.2 42 569.2 596.5 575.4 591.6 621.2 641.2 571.8 525.4 43 4.6 4.8 4.6 4.7 4.9 5.1 4.5 4.2 44 10,888.1 10,914.5 10,913.6 10,915.4 10,959.4 11,001.7 10,994.4 11,019.5 45 11,600.4 11,631.9 11,623.0 11,650.8 11,708.2 11,753.0 11,732.1 11,744.6 46 39,161 36,708 316,019 39,277 36,786 316,202 39,372 36,736 316,395 39,477 36,800 316,599 39,684 36,957 316,808 39,854 37,073 317,023 39,748 36,983 317,226 39,775 47 37,001 48 317,412 49 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2011 2012 2012 II 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... 44 Personal saving as a percentage of disposable personal income Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................... Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................ Per capita: 47 Current dollars................................................................................. 48 Chained (2009) dollars.................................................................... 49 Population (midperiod, thousands) 6 ..................................................... III 2013 IV I II Line III r 13,191.3 13,743.8 13,651.8 13,701.6 14,073.1 13,925.9 14,086.2 14,226.2 1 8,278.5 8,611.6 8,553.8 8,591.0 8,787.4 8,748.3 8,835.5 8,889.3 2 6,638.7 6,926.8 6,873.5 6,904.7 7,086.6 7,040.4 7,117.6 7,163.7 3 5,444.3 5,729.4 5,678.0 5,709.7 5,887.2 5,844.5 5,923.6 5,973.1 4 1,102.1 1,154.0 1,153.2 1,146.7 1,167.0 1,173.8 1,187.1 1,197.3 5 707.1 735.4 735.7 732.3 740.5 742.1 745.9 749.4 6 4,342.2 4,575.4 4,524.8 4,563.0 4,720.3 4,670.7 4,736.4 4,775.8 7 1,046.2 1,093.7 1,083.8 1,090.0 1,114.2 1,115.2 1,123.2 1,132.4 8 3,296.0 3,481.7 3,441.0 3,473.0 3,606.1 3,555.5 3,613.2 3,643.4 9 1,194.4 1,197.3 1,195.5 1,195.1 1,199.3 1,195.8 1,194.1 1,190.6 10 1,639.8 1,684.9 1,680.3 1,686.2 1,700.9 1,707.9 1,717.8 1,725.6 11 1,145.4 494.4 1,170.6 514.3 1,169.1 511.2 1,174.1 512.2 1,176.8 524.0 1,182.1 525.8 1,187.6 530.2 1,193.0 12 532.5 13 1,155.1 1,224.9 1,217.8 1,220.0 1,247.5 1,334.6 1,341.5 1,360.7 14 72.6 75.4 77.0 75.3 74.5 137.0 129.0 131.7 15 1,082.6 1,149.6 1,140.8 1,144.7 1,173.0 1,197.6 1,212.5 1,229.0 16 484.4 541.2 537.8 546.7 555.4 574.9 587.7 596.6 17 1,884.6 1,958.5 1,935.3 1,926.9 2,062.8 1,935.8 1,994.0 2,030.7 18 1,204.1 1,211.6 1,219.4 1,203.7 1,218.4 1,215.8 1,225.6 1,234.2 19 680.5 746.9 715.9 723.2 844.3 720.0 768.4 796.5 20 2,306.9 2,358.3 2,352.2 2,364.4 2,388.0 2,426.0 2,430.9 2,458.0 21 2,260.3 2,316.8 2,310.5 2,323.8 2,347.9 2,382.0 2,386.5 2,413.1 22 713.3 762.2 760.4 764.8 770.2 789.8 794.9 802.4 23 537.0 560.8 554.2 564.0 577.2 589.3 586.3 596.5 24 405.5 417.1 420.9 421.5 425.1 423.7 426.1 438.4 25 107.6 84.2 85.9 78.7 75.3 73.9 68.5 62.2 26 63.3 70.2 68.9 71.3 73.3 76.8 80.0 81.6 27 433.7 422.5 420.3 423.5 426.8 428.6 430.8 432.0 28 46.7 41.4 41.7 40.6 40.1 44.0 44.4 44.9 29 918.2 950.7 945.1 947.4 967.9 1,093.7 1,103.3 1,109.1 30 1,404.0 1,498.0 1,480.0 1,496.4 1,552.8 1,629.0 1,668.8 1,657.8 31 11,787.4 12,245.8 12,171.9 12,205.1 12,520.4 12,296.9 12,417.4 12,568.4 32 11,119.1 11,558.4 11,507.9 11,601.0 11,696.2 11,794.9 11,837.0 11,950.4 33 10,711.8 11,149.6 11,100.2 11,193.6 11,285.5 11,379.2 11,427.1 11,537.7 34 3,602.7 3,769.7 3,738.4 3,784.9 3,826.1 3,851.8 3,848.5 3,912.8 35 1,129.9 1,202.7 1,189.3 1,206.5 1,230.7 1,244.8 1,257.5 1,274.0 36 2,472.8 2,567.0 2,549.2 2,578.4 2,595.4 2,607.0 2,591.0 2,638.8 37 7,109.1 7,379.9 7,361.8 7,408.7 7,459.4 7,527.4 7,578.6 7,624.8 38 248.0 248.4 247.0 250.7 247.3 250.4 244.3 248.8 39 159.4 160.4 160.8 156.7 163.4 165.3 165.6 163.9 40 85.3 88.5 88.4 88.8 89.0 89.4 89.9 90.7 41 74.1 71.9 72.4 67.9 74.4 75.9 75.7 73.2 42 668.2 687.4 663.9 604.1 824.1 502.0 580.4 618.0 43 5.7 5.6 5.5 4.9 6.6 4.1 4.7 4.9 44 10,457.1 10,740.1 10,685.5 10,676.2 10,959.6 10,756.9 10,905.4 10,958.9 45 11,324.6 11,551.6 11,510.2 11,493.6 11,743.0 11,502.4 11,618.5 11,704.1 46 37,776 36,293 312,036 38,965 36,756 314,278 38,769 36,661 313,960 38,800 36,538 314,564 39,727 37,260 315,162 38,955 36,438 315,671 39,270 36,743 316,206 39,672 47 36,943 48 316,810 49 r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2013 April 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5 .......... May June July r Line Aug. r Sept. r Oct. r Nov. p 15.1 26.8 22.7 21.7 1.5 –1.2 20.2 –2.6 22.8 1.1 3.9 56.4 27.2 24.3 24.0 5.3 0.9 18.8 3.4 15.3 0.2 3.0 50.1 42.5 38.5 40.1 8.2 4.4 31.8 3.2 28.7 –1.5 3.9 19.4 –24.0 –23.8 –16.8 –4.6 –4.7 –12.3 –1.6 –10.7 –6.9 –0.1 71.0 45.6 41.1 38.5 8.9 6.3 29.7 10.8 18.9 2.5 4.5 63.1 30.0 26.2 17.9 4.7 2.0 13.1 0.9 12.2 8.3 3.8 –11.7 12.1 9.8 9.9 1.4 1.5 8.6 2.9 5.7 –0.1 2.3 30.1 1 30.4 2 27.1 3 26.1 4 8.3 5 4.8 6 17.8 7 5.1 8 12.7 9 1.0 10 3.3 11 2.5 1.4 1.7 1.3 1.6 2.3 1.6 –1.8 2.3 2.4 2.1 1.6 1.9 0.4 1.8 12 1.5 13 –14.9 –20.0 5.1 0.9 20.0 10.8 9.2 –14.8 –14.8 –9.6 –6.7 –0.3 –1.9 1.9 1.5 0.2 2.9 14.7 0.5 –31.1 –26.6 –31.4 5.5 –36.9 4.7 –4.4 0.0 0.2 –0.2 31.5 –12.8 –19.9 7.1 2.6 23.7 10.7 13.0 18.8 18.5 11.5 2.6 4.0 –1.9 2.3 0.2 0.1 2.9 12.7 43.7 16.5 20.6 15.2 4.6 10.6 5.6 –4.4 0.2 0.2 0.0 27.3 –17.1 –20.0 2.9 2.5 20.0 10.7 9.4 6.9 6.8 4.1 3.4 –0.8 –1.9 1.3 0.6 0.1 4.9 12.5 37.6 58.7 63.0 40.1 12.6 27.5 22.8 –4.5 0.2 0.2 0.0 –21.1 15.5 9.7 5.9 2.3 16.1 –1.1 17.0 6.5 6.4 –2.3 3.6 7.6 –1.9 –1.1 0.4 0.2 –3.0 –22.0 41.4 25.1 22.8 20.2 –0.1 20.2 2.6 4.5 –2.2 0.3 –2.5 16.2 17.3 9.6 7.6 3.5 –2.6 –1.0 –1.4 12.3 12.1 4.8 3.6 5.7 –2.3 0.6 –0.2 0.2 5.1 –2.9 73.9 44.4 39.6 12.3 17.9 –5.4 27.3 4.5 0.3 0.3 0.0 29.6 23.5 19.8 3.8 5.2 3.5 –1.1 4.4 4.5 4.3 0.2 3.2 0.1 –2.8 2.3 1.4 0.1 3.6 0.9 62.2 42.2 37.4 12.3 –15.8 28.0 25.1 4.5 0.3 0.3 0.0 20.0 –18.1 –22.2 4.0 2.1 –5.4 0.1 –5.5 –1.0 –1.1 –0.6 –1.4 0.4 0.2 0.2 0.0 0.2 1.4 13.8 –25.6 43.9 44.2 23.5 12.4 11.1 20.7 –0.6 0.3 0.3 0.0 –69.4 57.9 32.4 26.4 31.5 –0.9 –8.9 1.8 27.8 44.0 57.4 42.3 44.8 –7.3 –20.9 –5.0 –12.0 7.0 1.9 5.9 0.1 5.9 0.6 0.5 6.3 –0.1 0.5 –1.3 –0.5 –4.4 0.1 3.7 14.0 16.2 62.6 63.0 15.5 24.9 –9.4 47.5 –0.7 0.3 0.3 0.0 –46.4 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 25.1 44 12.5 45 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2011 2012 2012 II 1 Personal income...................................................................................... 2 Compensation of employees .............................................................. 3 Wages and salaries .......................................................................... 4 Private industries............................................................................. 5 Goods-producing industries......................................................... 6 Manufacturing ........................................................................... 7 Services-producing industries...................................................... 8 Trade, transportation, and utilities............................................. 9 Other services-producing industries......................................... 10 Government..................................................................................... 11 Supplements to wages and salaries............................................... 12 Employer contributions for employee pension and insurance funds 1 ........................................................................................... 13 Employer contributions for government social insurance ................ 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 15 Farm ................................................................................................... 16 Nonfarm.............................................................................................. 17 Rental income of persons with capital consumption adjustment... 18 Personal income receipts on assets.................................................. 19 Personal interest income .................................................................... 20 Personal dividend income................................................................... 21 Personal current transfer receipts ..................................................... 22 Government social benefits to persons .............................................. 23 Social security 2 .............................................................................. 24 Medicare 3 ....................................................................................... 25 Medicaid.......................................................................................... 26 Unemployment insurance................................................................ 27 Veterans’ benefits............................................................................ 28 Other ............................................................................................... 29 Other current transfer receipts, from business (net) ........................... 30 Less: Contributions for government social insurance, domestic... 31 Less: Personal current taxes ................................................................. 32 Equals: Disposable personal income ................................................... 33 Less: Personal outlays ........................................................................... 34 Personal consumption expenditures ...................................................... 35 Goods ................................................................................................. 36 Durable goods ................................................................................. 37 Nondurable goods ........................................................................... 38 Services.............................................................................................. 39 Personal interest payments 4 ................................................................. 40 Personal current transfer payments ....................................................... 41 To government .................................................................................... 42 To the rest of the world (net)............................................................... 43 Equals: Personal saving......................................................................... Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 ................................................................................... 45 Disposable personal income, billions of chained (2009) dollars 5.......... III 2013 IV I Line II III r 756.1 311.2 261.2 257.9 48.8 33.0 209.1 47.3 161.8 3.3 50.0 552.5 333.1 288.1 285.1 51.9 28.3 233.2 47.5 185.7 2.9 45.1 103.2 39.5 31.3 35.2 4.0 2.5 31.2 –3.0 34.2 –3.9 8.2 49.8 37.2 31.2 31.7 –6.5 –3.4 38.2 6.2 32.0 –0.4 5.9 371.5 196.4 181.9 177.5 20.3 8.2 157.3 24.2 133.1 4.2 14.7 –147.2 –39.1 –46.2 –42.7 6.8 1.6 –49.6 1.0 –50.6 –3.5 7.0 160.3 87.2 77.2 79.1 13.3 3.8 65.7 8.0 57.7 –1.7 9.9 140.0 1 53.8 2 46.1 3 49.5 4 10.2 5 3.5 6 39.4 7 9.2 8 30.2 9 –3.5 10 7.8 11 25.0 25.0 25.2 19.9 6.9 1.3 5.0 1.0 2.7 11.8 5.3 1.8 5.5 4.4 5.4 12 2.3 13 122.4 26.6 95.9 81.6 145.0 9.1 135.9 30.0 26.3 23.1 23.2 8.9 –31.3 5.3 –2.8 3.7 –65.9 212.5 543.7 509.6 509.9 239.9 59.2 180.7 270.0 –2.8 2.5 1.4 1.1 34.0 69.8 2.8 67.0 56.8 73.9 7.5 66.4 51.4 56.5 48.9 23.8 11.6 –23.4 6.9 –11.2 –5.3 32.5 94.0 458.4 439.3 437.8 167.0 72.8 94.2 270.8 0.4 1.0 3.2 –2.2 19.2 3.4 2.4 1.1 13.0 26.2 14.5 11.7 23.7 25.3 7.1 6.5 20.1 –10.9 1.8 0.8 –1.6 2.6 17.2 86.2 79.5 81.1 9.1 5.0 4.2 72.1 –1.6 0.1 0.7 –0.6 6.6 2.2 –1.7 3.9 8.9 –8.4 –15.7 7.3 12.2 13.3 4.4 9.8 0.6 –7.2 2.4 3.2 –1.1 2.3 16.4 33.2 93.1 93.4 46.5 17.2 29.2 46.9 3.7 –4.1 0.4 –4.5 –59.8 27.5 –0.8 28.3 8.7 135.9 14.7 121.1 23.6 24.1 5.4 13.2 3.6 –3.4 2.0 3.3 –0.5 20.5 56.4 315.3 95.2 91.9 41.2 24.2 17.0 50.7 –3.4 6.7 0.2 6.5 220.0 87.1 62.5 24.6 19.5 –127.0 –2.6 –124.3 38.0 34.1 19.6 12.1 –1.4 –1.4 3.5 1.8 3.9 125.8 76.2 –223.5 98.7 93.7 25.7 14.1 11.6 68.0 3.1 1.9 0.4 1.5 –322.1 6.9 –8.0 14.9 12.8 58.2 9.8 48.4 4.9 4.5 5.1 –3.0 2.4 –5.4 3.2 2.2 0.4 9.6 39.8 120.5 42.1 47.9 –3.3 12.7 –16.0 51.2 –6.1 0.3 0.5 –0.2 78.4 464.1 263.8 283.0 227.0 47.1 51.0 –9.3 –16.6 283.4 249.4 –202.7 –240.6 148.5 116.1 19.2 2.7 16.5 8.9 36.7 8.6 28.1 27.1 26.6 7.5 10.2 12.3 –6.3 1.6 1.2 0.5 5.8 –11.0 151.0 113.4 110.6 64.3 16.5 47.8 46.2 4.5 –1.7 0.8 –2.5 37.6 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 53.5 44 85.6 45 r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2013 April May June July r Line Aug. r Sept. r Oct. r Nov. p Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... 5 Proprietors’ income with inventory valuation and capital consumption adjustments...................................................... 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ......................................... 8 Personal interest income ....................................................... 9 Personal dividend income...................................................... 10 Personal current transfer receipts ............................................. 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes .................................................... 13 Equals: Disposable personal income ...................................... Addenda: 14 Personal consumption expenditures ......................................... 15 Goods .................................................................................... 16 Durable goods .................................................................... 17 Nondurable goods .............................................................. 18 Services................................................................................. 0.1 0.3 0.3 0.2 0.4 0.3 0.3 0.2 0.4 0.5 0.5 0.2 0.1 –0.3 –0.3 0.0 0.5 0.5 0.6 0.3 0.4 0.3 0.4 0.2 –0.1 0.1 0.1 0.1 0.2 0.3 0.4 0.2 1 2 3 4 –1.1 0.2 1.0 0.9 1.2 –0.6 0.3 0.9 0.0 –0.9 0.4 1.2 0.9 1.7 0.8 0.3 0.8 0.4 –1.3 0.4 1.0 0.9 1.2 0.3 0.4 0.7 0.3 1.2 0.4 0.8 –0.1 2.2 0.3 –0.3 –1.3 0.3 1.3 0.6 –0.1 –0.1 –0.2 0.5 0.5 –0.2 0.6 1.7 0.9 0.2 –0.1 0.6 0.2 0.3 0.1 0.5 –1.3 0.3 –0.3 0.0 –0.7 0.0 0.1 0.8 –0.2 –0.4 0.3 0.3 0.0 0.7 0.0 0.3 0.8 0.1 5 6 7 8 9 10 11 12 13 –0.2 –0.8 0.4 –1.4 0.1 0.2 0.4 0.4 0.4 0.1 0.6 1.0 1.0 1.1 0.3 0.2 0.5 0.0 0.8 0.0 0.3 0.3 1.4 –0.2 0.4 0.3 0.3 –1.2 1.1 0.3 0.4 0.6 1.0 0.4 0.3 0.5 0.4 1.9 –0.4 0.6 14 15 16 17 18 0.0 0.2 0.4 0.5 0.4 0.4 –0.1 –0.2 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. 0.5 0.3 0.2 0.3 0.0 –0.1 0.2 19 0.1 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 2012 II III 2013 IV I II Line III r Based on current-dollar measures 1 Personal income......................................................................... 2 Compensation of employees .................................................... 3 Wages and salaries ............................................................... 4 Supplements to wages and salaries...................................... Proprietors’ income with inventory valuation and capital 5 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................................................................................. 6.1 3.9 4.1 3.1 4.2 4.0 4.3 2.7 3.1 1.9 1.8 2.0 1.5 1.7 1.8 1.4 11.3 9.5 11.0 3.5 –4.1 –1.8 –2.6 1.7 4.7 4.0 4.5 2.3 4.0 2.5 2.6 1.8 1 2 3 4 11.9 20.3 8.3 0.8 25.0 1.3 –6.7 17.8 4.8 6.0 11.7 3.9 0.6 9.8 2.2 3.5 6.7 3.9 1.2 10.3 5.6 4.9 6.8 4.1 1.1 4.8 2.9 0.7 6.8 –1.7 –5.1 4.1 2.1 1.0 4.5 1.1 9.3 6.5 31.3 5.0 85.8 4.0 8.9 15.9 10.7 31.0 14.8 –22.4 –0.9 –47.1 6.5 63.0 21.1 –7.0 2.1 9.2 12.6 3.3 29.7 0.8 3.5 10.1 4.0 5.9 6.2 7.6 2.8 15.5 4.5 2.1 –2.6 5.0 5 6 7 8 9 10 11 12 13 5.0 7.1 5.5 7.9 3.9 4.1 4.6 6.4 3.8 3.8 3.0 1.0 1.7 0.6 4.0 3.4 5.1 5.9 4.7 2.6 3.3 4.4 8.3 2.7 2.8 3.4 2.7 4.7 1.8 3.7 1.7 –0.3 4.1 –2.4 2.8 3.9 6.9 5.4 7.6 2.5 14 15 16 17 18 –0.3 –0.6 11.0 9.0 –7.2 –7.9 5.6 4.1 Based on chained (2009) dollar measures 19 20 Real personal income excluding current transfer receipts ........ Real disposable personal income ............................................. r Revised 4.6 2.4 2.7 2.0 1.8 1.8 2.0 19 3.0 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2013 Line April May June July r Aug. r Sept. r Oct. r Nov.p 10,768.2 3,691.8 1,345.4 2,362.3 7,076.0 10,812.0 3,725.6 1,361.1 2,381.1 7,086.3 10,868.2 3,752.4 1,391.6 2,380.9 7,115.8 Line Billions of chained (2009) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,678.7 3,623.2 1,314.9 2,323.2 7,054.5 10,689.4 3,642.0 1,320.6 2,336.2 7,046.6 10,707.7 3,653.6 1,334.2 2,335.6 7,053.3 10,718.9 3,669.1 1,338.7 2,346.6 7,049.3 10,745.4 3,679.2 1,361.7 2,336.8 7,065.6 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 4.5 3.0 9.4 –5.1 1.5 10.7 18.8 5.7 13.0 –7.9 18.3 11.6 13.6 –0.6 6.7 11.2 15.5 4.5 11.0 –4.0 26.5 10.1 23.0 –9.8 16.3 22.8 12.6 –16.3 25.5 10.4 43.8 33.8 15.7 18.8 10.3 56.2 6 26.8 7 30.5 8 –0.2 9 29.5 10 Percent change from preceding period in chained (2009) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... 0.0 0.1 0.7 –0.2 0.0 0.1 0.5 0.4 0.6 –0.1 0.2 0.3 1.0 0.0 0.1 0.1 0.4 0.3 0.5 –0.1 0.2 0.3 1.7 –0.4 0.2 0.2 0.3 –1.2 1.1 0.1 0.4 0.9 1.2 0.8 0.1 0.5 0.7 2.2 0.0 0.4 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 2012 II 2013 III IV I II Line III r Billions of chained (2009) dollars 1 Personal consumption expenditures ....................................... 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... 10,291.3 3,419.9 1,157.1 2,266.0 6,871.1 10,517.6 3,534.1 1,246.7 2,296.8 6,982.7 10,496.8 3,514.7 1,228.6 2,293.9 6,981.4 10,541.0 3,546.7 1,253.4 2,303.0 6,993.4 10,584.8 3,579.2 1,285.2 2,306.7 7,004.7 10,644.0 3,611.9 1,303.5 2,322.2 7,031.1 10,691.9 3,639.6 1,323.2 2,331.7 7,051.5 43.8 32.5 31.8 3.7 11.3 59.2 32.7 18.3 15.5 26.4 47.9 27.7 19.7 9.5 20.4 1.7 3.7 10.5 0.6 0.6 2.3 3.7 5.8 2.7 1.5 1.8 3.1 6.2 1.6 1.2 10,744.2 3,680.0 1,348.6 2,348.6 7,063.6 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars 6 Personal consumption expenditures ....................................... 7 Goods ....................................................................................... 8 Durable goods ....................................................................... 9 Nondurable goods ................................................................. 10 Services .................................................................................... 255.4 111.2 71.4 42.5 143.9 226.3 114.2 89.6 30.8 111.6 49.0 18.9 8.9 10.3 30.2 44.2 32.0 24.8 9.1 12.0 52.3 6 40.4 7 25.4 8 16.9 9 12.1 10 Percent change from preceding period in chained (2009) dollars 11 Personal consumption expenditures ....................................... 12 Goods ....................................................................................... 13 Durable goods ....................................................................... 14 Nondurable goods ................................................................. 15 Services .................................................................................... r Revised 2.5 3.4 6.6 1.9 2.1 2.2 3.3 7.7 1.4 1.6 1.9 2.2 2.9 1.8 1.7 1.7 3.7 8.3 1.6 0.7 2.0 4.5 7.9 2.9 0.7 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2013 Line April May June July r Aug. r Sept. r Oct. r Nov. p Line Chain-type price indexes (2009=100), seasonally adjusted 1 Personal consumption expenditures (PCE) ............................ 2 Goods ....................................................................................... 3 Durable goods ....................................................................... 4 Nondurable goods ................................................................. 5 Services .................................................................................... Addenda: 6 PCE excluding food and energy ............................................... 7 Food 1 ....................................................................................... 8 Energy goods and services 2 .................................................... 9 Market-based PCE 3 ................................................................. 10 Market-based PCE excluding food and energy 3 ...................... 106.685 105.573 95.070 110.834 107.271 106.772 105.442 94.999 110.670 107.470 107.177 106.205 94.980 111.873 107.691 107.277 106.306 94.657 112.214 107.790 107.382 106.349 94.366 112.451 107.926 107.502 106.322 94.344 112.420 108.123 107.476 105.987 94.165 111.998 108.259 107.499 105.640 93.885 111.616 108.477 1 2 3 4 5 105.575 107.730 124.254 106.503 105.194 105.674 107.467 124.583 106.610 105.318 105.884 107.744 128.863 107.050 105.540 105.970 107.860 129.266 107.176 105.655 106.084 108.084 129.012 107.251 105.736 106.177 107.965 130.065 107.346 105.797 106.263 108.030 127.771 107.279 105.850 106.371 6 107.911 7 126.439 8 107.279 9 105.943 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 ...................... –0.3 –0.9 –0.3 –1.2 0.0 0.1 –0.1 –0.1 –0.1 0.2 0.4 0.7 0.0 1.1 0.2 0.1 0.1 –0.3 0.3 0.1 0.1 0.0 –0.3 0.2 0.1 0.1 0.0 0.0 0.0 0.2 0.0 –0.3 –0.2 –0.4 0.1 0.0 –0.3 –0.3 –0.3 0.2 11 12 13 14 15 0.0 0.1 –4.4 –0.4 –0.1 0.1 –0.2 0.3 0.1 0.1 0.2 0.3 3.4 0.4 0.2 0.1 0.1 0.3 0.1 0.1 0.1 0.2 –0.2 0.1 0.1 0.1 –0.1 0.8 0.1 0.1 0.1 0.1 –1.8 –0.1 0.1 0.1 –0.1 –1.0 0.0 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 2013 Line April 1 Disposable personal income .................................................... 2 Personal consumption expenditures ....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services .................................................................................... May 0.8 1.7 3.0 7.1 1.1 1.1 June 1.1 1.8 3.6 7.7 1.8 0.9 July 0.9 2.0 4.1 8.3 2.1 1.0 r Aug. r 1.3 1.8 3.9 8.0 2.0 0.7 2.0 2.1 3.9 8.9 1.6 1.2 Sept. r 2.2 1.9 3.5 5.9 2.4 1.1 Oct. r 1.8 2.4 4.7 7.7 3.3 1.2 Nov. p 0.6 2.6 4.7 7.8 3.2 1.5 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 2013 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 ...................... April May June July r Aug. r Sept. r Oct. r Nov. p Line 1 2 3 4 5 0.9 –1.1 –1.8 –0.7 1.9 1.0 –0.7 –1.9 –0.2 1.9 1.3 0.0 –1.8 0.9 1.9 1.3 0.3 –1.8 1.3 1.9 1.1 –0.4 –2.0 0.4 1.9 0.9 –1.0 –1.8 –0.6 1.9 0.7 –1.4 –1.8 –1.2 1.8 0.9 –1.0 –2.0 –0.6 1.9 1.2 1.2 –4.1 0.8 1.1 1.2 1.0 –0.9 1.0 1.1 1.2 1.0 3.2 1.2 1.1 1.1 1.2 4.8 1.4 1.1 1.2 1.2 –0.1 1.1 1.2 1.2 1.2 –3.3 0.8 1.1 1.1 1.0 –5.1 0.7 1.1 1.1 6 0.7 7 –2.7 8 0.8 9 1.1 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.