The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, FRIDAY, NOVEMBER 30, 2012 BEA 12-54 James Rankin: (202) 606-5301 Kyle Brown: (202) 606-5302 (Personal Income) (Personal Consumption Expenditures) piniwd@bea.gov pce@bea.gov PERSONAL INCOME AND OUTLAYS: OCTOBER 2012 Personal income increased $0.4 billion, or less than 0.1 percent, and disposable personal income (DPI) increased $0.8 billion, or less than 0.1 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $20.2 billion, or 0.2 percent. In September, personal income increased $47.8 billion, or 0.4 percent, DPI increased $42.1 billion, or 0.4 percent, and PCE increased $84.0 billion, or 0.8 percent, based on revised estimates. Real disposable income decreased 0.1 percent in October, compared with an increase of less than 0.1 percent in September. Real PCE decreased 0.3 percent, in contrast to an increase of 0.4 percent. 2012 June July Aug. Sept. (Percent change from preceding month) Personal income, current dollars Disposable personal income: Current dollars Chained (2005) dollars Personal consumption expenditures: Current dollars Chained (2005) dollars Oct. 0.3 0.1 0.1 0.4 0.0 0.2 0.2 0.1 0.1 0.1 -0.3 0.4 0.0 0.0 -0.1 0.0 -0.1 0.3 0.3 0.3 0.0 0.8 0.4 -0.2 -0.3 The October estimates of personal income and outlays reflect the effects of Hurricane Sandy, which made landfall in the United States on October 29. See page 2 for further discussion. ________________________ NOTE. Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-tomonth dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2005) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- The October estimates of personal income and outlays reflect the effects of Hurricane Sandy, which made landfall in the United States on October 29. The storm affected 24 states, with particularly severe damage in New York and New Jersey. BEA cannot quantify the total impact of the storm on personal income and outlays because most of the source data used to estimate these components reflect the effects of the storm and cannot be separately identified. However, BEA did make adjustments where source data were not yet available or did not reflect the effects of Sandy. The largest of these adjustments was for work interruptions, which reduced wages and salaries by about $18 billion (at an annual rate). Wages and salaries Private wage and salary disbursements decreased $17.1 billion in October, in contrast to an increase of $22.4 billion in September. The October decrease in private wages and salaries reflected work interruptions caused by Hurricane Sandy, which reduced wages and salaries by $18.2 billion at an annual rate. Goods-producing industries' payrolls decreased $3.6 billion in October, in contrast to an increase of $3.9 billion in September; manufacturing payrolls decreased $2.1 billion, in contrast to an increase of $1.8 billion. Services-producing industries' payrolls decreased $13.5 billion, in contrast to an increase of $18.3 billion. Government wage and salary disbursements increased $0.1 billion, compared with an increase of $1.7 billion. Other personal income Supplements to wages and salaries increased $1.6 billion in October, compared with an increase of $4.6 billion in September. Proprietors' income decreased $2.1 billion in October, in contrast to an increase of $11.6 billion in September. Farm proprietors' income decreased $1.9 billion, in contrast to an increase of $3.2 billion. Nonfarm proprietors' income decreased $0.2 billion, in contrast to an increase of $8.4 billion. Rental income of persons increased $5.5 billion in October, compared with an increase of $9.0 billion in September. Personal income receipts on assets (personal interest income plus personal dividend income) increased $17.2 billion, in contrast to a decrease of $12.2 billion. Personal current transfer receipts decreased $6.7 billion, in contrast to an increase of $13.6 billion. Within current transfer receipts, government social benefits to persons for social security benefits decreased $10.3 billion in October, in contrast to an increase of $13.9 billion in September. Contributions for government social insurance -- a subtraction in calculating personal income -decreased $1.9 billion in October, in contrast to an increase of $2.9 billion in September. -more- -3- Personal current taxes and disposable personal income Personal current taxes decreased $0.3 billion in October, in contrast to an increase of $5.7 billion in September. Disposable personal income (DPI) -- personal income less personal current taxes -increased $0.8 billion, or less than 0.1 percent, in October, compared with an increase of $42.1 billion, or 0.4 percent, in September. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -decreased $18.0 billion in October, in contrast to an increase of $87.3 billion in September. PCE decreased $20.2 billion, in contrast to an increase of $84.0 billion. Personal saving -- DPI less personal outlays -- was $410.1 billion in October, compared with $391.3 billion in September. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.4 percent in October, compared with 3.3 percent in September. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp. Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in October, in contrast to an increase of less than 0.1 percent in September. Real PCE -- PCE adjusted to remove price changes -- decreased 0.3 percent in October, in contrast to an increase of 0.4 percent in September. Purchases of durable goods decreased 1.7 percent, in contrast to an increase of 2.2 percent. Purchases of motor vehicles and parts accounted for most of the decrease in October. Purchases of nondurable goods decreased 0.3 percent in October, in contrast to an increase of 0.3 percent in September. Purchases of services decreased 0.1 percent, in contrast to an increase of 0.2 percent. The price index for PCE increased 0.1 percent in October, compared with an increase of 0.3 percent in September. The PCE price index, excluding food and energy, increased 0.1 percent in October, the same increase as in September. -more- -4- Revisions The revisions to second-quarter estimates of wages and salaries, personal taxes, and contributions for government social insurance reflect the incorporation of newly available secondquarter wage and salary tabulations from the quarterly census of employment and wages (QCEW) from the Bureau of Labor Statistics. Estimates of wages and salaries were revised from April through September. The revision to second-quarter wages and salaries reflects the incorporation of second-quarter QCEW. Revised estimates for July, August, and September reflect extrapolations from the revised second-quarter level of wages. In addition, revisions to August and September reflect revised BLS employment, hours, and earnings data for those months. Estimates for personal income and DPI have been revised for April through September; estimates for PCE have been revised for July through September. Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for August and September -- revised and as published in last month's release -- are shown below. Change from preceding month August Previous Revised (Billions of dollars) Personal Income: Current dollars September Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) 17.8 11.2 0.1 0.1 48.1 47.8 0.4 0.4 15.1 -28.6 9.4 -28.2 0.1 -0.3 0.1 -0.3 43.0 -2.3 42.1 2.2 0.4 0.0 0.4 0.0 Personal consumption expenditures: Current dollars 59.9 Chained (2005) dollars 12.8 35.6 -3.2 0.5 0.1 0.3 0.0 87.9 38.9 84.0 40.5 0.8 0.4 0.8 0.4 Disposable personal income: Current dollars Chained (2005) dollars -more- -5- BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Next release – December 21, 2012 at 8:30 A.M. EST for Personal Income and Outlays for November Release Dates for 2013 December 2012.. January 31 January 2013….. March 1 February 2013… March 29 March 2013…… April 29 April 2013…May 31 May 2013… June 27 June 2013… August 2 July 2013…. August 30 -more- August 2013…… September 27 September 2013.. October 31 October 2013….. November 27 November 2013.. December 23 Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 1 Personal income....................................................................................... 2 Compensation of employees, received............................................... 3 Wage and salary disbursements ...................................................... 4 Private industries .............................................................................. 5 Goods-producing industries .......................................................... 6 Manufacturing ............................................................................ 7 Services-producing industries....................................................... 8 Trade, transportation, and utilities .............................................. 9 Other services-producing industries .......................................... 10 Government...................................................................................... 11 Supplements to wages and salaries ................................................ 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................. 14 Proprietors’ income with inventory valuation and capital consumption adjustments ................................................................ 15 Farm..................................................................................................... 16 Nonfarm ............................................................................................... 17 Rental income of persons with capital consumption adjustment.... 18 Personal income receipts on assets ................................................... 19 Personal interest income ..................................................................... 20 Personal dividend income.................................................................... 21 Personal current transfer receipts....................................................... 22 Government social benefits to persons................................................ 23 Social security 1 ................................................................................ 24 Medicare 2 ........................................................................................ 25 Medicaid ........................................................................................... 26 Unemployment insurance................................................................. 27 Veterans’ benefits ............................................................................. 28 Other................................................................................................. 29 Other current transfer receipts, from business (net) ............................ 30 Less: Contributions for government social insurance, domestic .... 31 Less: Personal current taxes .................................................................. 32 Equals: Disposable personal income..................................................... 33 Less: Personal outlays ............................................................................ 34 Personal consumption expenditures ....................................................... 35 Goods .................................................................................................. 36 Durable goods .................................................................................. 37 Nondurable goods ............................................................................ 38 Services ............................................................................................... 39 Personal interest payments 3 .................................................................. 40 Personal current transfer payments ........................................................ 41 To government ..................................................................................... 42 To the rest of the world (net) ................................................................ 43 Equals: Personal saving .......................................................................... 44 Personal saving as a percentage of disposable personal income ... Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4..................................................................... Disposable personal income: 46 Total, billions of chained (2005) dollars 4 ............................................. Per capita: 47 Current dollars .................................................................................. 48 Chained (2005) dollars ..................................................................... 49 Population (midperiod, thousands) 5 ....................................................... 2012 Line March April r May r June r July r Aug. r Sept. r Oct. p 13,298.3 8,544.6 6,869.4 5,669.2 1,153.0 729.2 4,516.2 1,088.7 3,427.5 1,200.2 1,675.2 1,162.3 512.9 13,302.9 8,525.2 6,848.9 5,648.7 1,160.2 740.3 4,488.5 1,093.6 3,394.9 1,200.1 1,676.3 1,164.9 511.4 13,322.3 8,518.2 6,840.3 5,640.6 1,158.2 742.3 4,482.4 1,097.3 3,385.2 1,199.6 1,678.0 1,167.7 510.3 13,355.9 8,539.7 6,858.5 5,658.7 1,166.9 750.3 4,491.8 1,104.2 3,387.6 1,199.7 1,681.2 1,170.4 510.8 13,375.0 8,554.8 6,869.8 5,669.1 1,171.9 753.9 4,497.2 1,104.4 3,392.9 1,200.7 1,685.0 1,173.2 511.8 13,386.2 8,560.4 6,872.6 5,668.6 1,162.9 746.8 4,505.8 1,105.7 3,400.0 1,203.9 1,687.9 1,176.3 511.6 13,434.0 8,589.1 6,896.6 5,691.0 1,166.8 748.6 4,524.1 1,111.4 3,412.8 1,205.6 1,692.5 1,179.3 513.2 13,434.4 8,573.7 6,879.6 5,673.9 1,163.2 746.5 4,510.6 1,109.4 3,401.2 1,205.7 1,694.1 1,182.2 511.8 1 2 3 4 5 6 7 8 9 10 11 12 13 1,190.4 51.4 1,139.0 451.3 1,703.2 994.9 708.3 2,356.2 2,310.9 758.2 557.9 400.3 91.0 70.7 432.8 45.4 947.4 1,460.6 11,837.7 11,400.8 11,054.1 3,780.2 1,207.1 2,573.1 7,273.9 180.4 166.3 90.8 75.5 436.8 3.7 1,192.3 51.9 1,140.3 451.7 1,717.3 1,000.5 716.8 2,361.2 2,315.4 756.8 556.2 408.1 89.5 71.1 433.8 45.8 944.8 1,461.6 11,841.3 11,423.6 11,080.3 3,769.3 1,202.0 2,567.3 7,311.0 175.8 167.5 91.1 76.4 417.7 3.5 1,196.5 52.5 1,144.0 452.8 1,733.6 1,006.1 727.4 2,364.7 2,319.0 756.8 557.4 415.7 83.6 71.9 433.7 45.7 943.5 1,464.1 11,858.2 11,400.7 11,061.7 3,734.1 1,199.1 2,535.0 7,327.6 171.2 167.7 91.3 76.4 457.5 3.9 1,196.0 53.1 1,142.9 454.1 1,741.4 1,011.8 729.7 2,369.7 2,323.9 764.6 557.2 417.8 78.4 71.6 434.3 45.8 945.0 1,470.0 11,885.9 11,394.1 11,059.5 3,721.0 1,199.7 2,521.3 7,338.4 166.7 168.0 91.6 76.4 491.8 4.1 1,198.1 56.3 1,141.9 462.2 1,723.3 994.3 729.0 2,383.0 2,337.0 762.1 564.1 421.8 78.0 73.8 437.3 46.0 946.5 1,472.4 11,902.6 11,436.5 11,098.0 3,741.5 1,202.9 2,538.6 7,356.5 169.8 168.7 91.8 76.9 466.1 3.9 1,204.0 59.5 1,144.6 471.0 1,713.9 976.9 737.0 2,383.5 2,337.4 759.7 566.4 425.2 74.4 74.7 437.0 46.1 946.6 1,474.2 11,912.0 11,475.5 11,133.6 3,786.1 1,214.1 2,572.0 7,347.5 172.9 169.0 92.1 76.9 436.5 3.7 1,215.6 62.7 1,153.0 480.0 1,701.7 959.5 742.2 2,397.1 2,350.8 773.6 568.0 425.7 72.4 73.6 437.6 46.3 949.5 1,479.9 11,954.1 11,562.8 11,217.6 3,846.7 1,237.9 2,608.8 7,370.9 176.0 169.2 92.3 76.9 391.3 3.3 1,213.5 60.8 1,152.8 485.5 1,718.9 971.9 747.0 2,390.4 2,344.0 763.3 566.1 428.9 70.6 75.1 440.1 46.4 947.6 1,479.6 11,954.9 11,544.8 11,197.4 3,818.5 1,214.7 2,603.9 7,378.8 178.0 169.4 92.5 76.9 410.1 3.4 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 44 9,465.6 9,463.9 9,496.6 9,513.5 9,512.8 9,488.5 9,486.5 9,480.7 45 10,240.4 10,242.0 10,277.2 10,292.6 10,300.9 10,272.7 10,274.9 10,262.7 46 37,747 32,653 313,610 37,737 32,640 313,788 37,768 32,733 313,972 37,833 32,762 314,168 37,861 32,766 314,376 37,865 32,654 314,589 37,973 32,639 314,802 37,951 47 32,579 48 315,009 49 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2010 2011 2011 II 1 Personal income....................................................................................... 2 Compensation of employees, received............................................... 3 Wage and salary disbursements ...................................................... 4 Private industries .............................................................................. 5 Goods-producing industries .......................................................... 6 Manufacturing ............................................................................ 7 Services-producing industries....................................................... 8 Trade, transportation, and utilities .............................................. 9 Other services-producing industries .......................................... 10 Government...................................................................................... 11 Supplements to wages and salaries ................................................ 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ................. 14 Proprietors’ income with inventory valuation and capital consumption adjustments ................................................................ 15 Farm..................................................................................................... 16 Nonfarm ............................................................................................... 17 Rental income of persons with capital consumption adjustment.... 18 Personal income receipts on assets ................................................... 19 Personal interest income ..................................................................... 20 Personal dividend income.................................................................... 21 Personal current transfer receipts....................................................... 22 Government social benefits to persons................................................ 23 Social security 1 ................................................................................ 24 Medicare 2 ........................................................................................ 25 Medicaid ........................................................................................... 26 Unemployment insurance................................................................. 27 Veterans’ benefits ............................................................................. 28 Other................................................................................................. 29 Other current transfer receipts, from business (net) ............................ 30 Less: Contributions for government social insurance, domestic .... 31 Less: Personal current taxes .................................................................. 32 Equals: Disposable personal income..................................................... 33 Less: Personal outlays ............................................................................ 34 Personal consumption expenditures ....................................................... 35 Goods .................................................................................................. 36 Durable goods .................................................................................. 37 Nondurable goods ............................................................................ 38 Services ............................................................................................... 39 Personal interest payments 3 .................................................................. 40 Personal current transfer payments ........................................................ 41 To government ..................................................................................... 42 To the rest of the world (net) ................................................................ 43 Equals: Personal saving .......................................................................... 44 Personal saving as a percentage of disposable personal income ... Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4..................................................................... Disposable personal income: 46 Total, billions of chained (2005) dollars 4 ............................................. Per capita: 47 Current dollars .................................................................................. 48 Chained (2005) dollars ..................................................................... 49 Population (midperiod, thousands) 5 ....................................................... III 2012 IV I II r Line III r 12,321.9 7,970.0 6,404.6 5,213.3 1,057.5 674.1 4,155.8 1,005.5 3,150.3 1,191.3 1,565.4 1,097.3 468.1 12,947.3 8,295.2 6,661.3 5,466.0 1,108.6 706.6 4,357.4 1,050.1 3,307.3 1,195.3 1,633.9 1,139.0 494.9 12,938.9 8,286.4 6,656.2 5,458.8 1,107.9 707.0 4,351.0 1,046.8 3,304.2 1,197.4 1,630.2 1,135.4 494.8 12,976.3 8,318.1 6,678.1 5,480.4 1,116.4 710.1 4,364.0 1,054.2 3,309.9 1,197.7 1,640.0 1,144.2 495.8 13,017.4 8,340.1 6,692.4 5,499.9 1,107.4 701.0 4,392.5 1,056.6 3,335.9 1,192.5 1,647.7 1,151.5 496.2 13,227.1 8,495.7 6,825.9 5,626.8 1,144.0 723.1 4,482.7 1,083.3 3,399.4 1,199.1 1,669.8 1,159.6 510.2 13,327.0 8,527.7 6,849.2 5,649.4 1,161.8 744.3 4,487.6 1,098.4 3,389.2 1,199.8 1,678.5 1,167.7 510.8 13,398.4 8,568.1 6,879.6 5,676.3 1,167.2 749.8 4,509.0 1,107.2 3,401.9 1,203.4 1,688.5 1,176.2 512.2 1 2 3 4 5 6 7 8 9 10 11 12 13 1,103.4 44.3 1,059.1 349.2 1,598.3 1,016.6 581.7 2,284.3 2,236.9 690.2 515.3 396.6 138.9 57.9 438.1 47.4 983.3 1,194.8 11,127.1 10,560.4 10,215.7 3,364.9 1,079.4 2,285.5 6,850.9 183.8 160.9 87.4 73.5 566.7 5.1 1,157.3 54.6 1,102.8 409.7 1,685.1 1,008.8 676.3 2,319.2 2,274.3 713.3 545.1 403.9 108.0 63.3 440.8 44.9 919.3 1,398.0 11,549.3 11,059.9 10,729.0 3,624.8 1,146.4 2,478.4 7,104.2 168.0 162.8 88.9 73.9 489.4 4.2 1,154.7 52.6 1,102.1 404.7 1,692.4 1,025.3 667.1 2,319.9 2,274.8 712.0 543.1 408.7 108.8 62.4 439.8 45.1 919.2 1,396.6 11,542.3 11,015.1 10,684.9 3,604.3 1,131.8 2,472.4 7,080.6 167.8 162.4 88.6 73.8 527.2 4.6 1,161.4 55.3 1,106.1 413.8 1,689.1 1,004.4 684.7 2,314.7 2,270.4 716.0 549.1 396.1 103.0 64.9 441.3 44.3 920.8 1,403.8 11,572.6 11,120.9 10,791.2 3,643.6 1,144.8 2,498.7 7,147.6 167.3 162.4 89.1 73.3 451.6 3.9 1,165.3 54.4 1,110.9 430.3 1,684.6 988.0 696.6 2,319.9 2,276.0 721.9 553.1 392.0 100.9 64.7 443.5 43.9 922.8 1,419.1 11,598.3 11,205.6 10,873.8 3,690.0 1,175.1 2,515.0 7,183.8 167.0 164.8 89.8 75.1 392.7 3.4 1,184.3 52.3 1,132.1 445.3 1,696.4 991.8 704.6 2,348.0 2,302.7 753.2 555.9 397.6 94.2 68.8 433.0 45.3 942.6 1,450.8 11,776.4 11,348.7 11,007.2 3,755.9 1,204.6 2,551.3 7,251.3 175.4 166.1 90.5 75.5 427.7 3.6 1,194.9 52.5 1,142.4 452.8 1,730.8 1,006.1 724.6 2,365.2 2,319.5 759.4 556.9 413.9 83.8 71.5 433.9 45.8 944.4 1,465.2 11,861.8 11,406.1 11,067.2 3,741.5 1,200.3 2,541.2 7,325.7 171.2 167.7 91.3 76.4 455.7 3.8 1,205.9 59.5 1,146.5 471.1 1,713.0 976.9 736.0 2,387.9 2,341.7 765.1 566.2 424.2 74.9 74.0 437.3 46.1 947.6 1,475.5 11,922.9 11,491.6 11,149.8 3,791.4 1,218.3 2,573.1 7,358.3 172.9 169.0 92.0 76.9 431.3 3.6 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 9,035.8 9,340.0 9,345.2 9,328.6 9,335.4 9,435.7 9,491.3 9,495.8 45 10,016.5 10,149.7 10,157.8 10,125.6 10,121.5 10,213.9 10,270.6 10,282.7 46 35,920 32,335 309,774 37,012 32,527 312,040 37,028 32,587 311,717 37,052 32,420 312,330 37,064 32,345 312,929 37,571 32,586 313,443 37,779 32,711 313,976 37,900 47 32,686 48 314,589 49 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2012 March 1 Personal income .................................................................................... 2 Compensation of employees, received ............................................ 3 Wage and salary disbursements.................................................... 4 Private industries ........................................................................... 5 Goods-producing industries........................................................ 6 Manufacturing.......................................................................... 7 Services-producing industries .................................................... 8 Trade, transportation, and utilities............................................ 9 Other services-producing industries........................................ 10 Government ................................................................................... 11 Supplements to wages and salaries.............................................. 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ............... 14 Proprietors’ income with inventory valuation and capital consumption adjustments.............................................................. 15 Farm .................................................................................................. 16 Nonfarm............................................................................................. 17 Rental income of persons with capital consumption adjustment 18 Personal income receipts on assets................................................. 19 Personal interest income ................................................................... 20 Personal dividend income ................................................................. 21 Personal current transfer receipts .................................................... 22 Government social benefits to persons ............................................. 23 Social security 1 ............................................................................. 24 Medicare 2 ...................................................................................... 25 Medicaid......................................................................................... 26 Unemployment insurance............................................................... 27 Veterans’ benefits........................................................................... 28 Other .............................................................................................. 29 Other current transfer receipts, from business (net) .......................... 30 Less: Contributions for government social insurance, domestic 31 Less: Personal current taxes ................................................................ 32 Equals: Disposable personal income .................................................. 33 Less: Personal outlays .......................................................................... 34 Personal consumption expenditures..................................................... 35 Goods................................................................................................ 36 Durable goods................................................................................ 37 Nondurable goods.......................................................................... 38 Services ............................................................................................ 39 Personal interest payments 3 ................................................................ 40 Personal current transfer payments ...................................................... 41 To government................................................................................... 42 To the rest of the world (net).............................................................. 43 Equals: Personal saving........................................................................ Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4 .................................................................... 45 Disposable personal income, billions of chained (2005) dollars 4 ........ April r May r June r Line July r Aug. r Sept. r Oct. p 63.6 42.9 37.9 37.1 7.4 5.7 29.8 2.3 27.5 0.8 5.0 2.8 2.3 4.6 –19.4 –20.5 –20.5 7.2 11.1 –27.7 4.9 –32.6 –0.1 1.1 2.6 –1.5 19.4 –7.0 –8.6 –8.1 –2.0 2.0 –6.1 3.7 –9.7 –0.5 1.7 2.8 –1.1 33.6 21.5 18.2 18.1 8.7 8.0 9.4 6.9 2.4 0.1 3.2 2.7 0.5 19.1 15.1 11.3 10.4 5.0 3.6 5.4 0.2 5.3 1.0 3.8 2.8 1.0 11.2 5.6 2.8 –0.5 –9.0 –7.1 8.6 1.3 7.1 3.2 2.9 3.1 –0.2 47.8 28.7 24.0 22.4 3.9 1.8 18.3 5.7 12.8 1.7 4.6 3.0 1.6 0.4 –15.4 –17.0 –17.1 –3.6 –2.1 –13.5 –2.0 –11.6 0.1 1.6 2.9 –1.4 1 2 3 4 5 6 7 8 9 10 11 12 13 1.8 –0.9 2.7 6.0 7.4 3.1 4.3 9.7 9.7 6.1 2.2 2.6 –3.1 2.2 –0.3 0.1 4.2 8.6 55.0 33.6 28.3 14.5 –1.7 16.2 13.8 5.0 0.2 0.3 0.0 21.4 1.9 0.5 1.3 0.4 14.1 5.6 8.5 5.0 4.5 –1.4 –1.7 7.8 –1.5 0.4 1.0 0.4 –2.6 1.0 3.6 22.8 26.2 –10.9 –5.1 –5.8 37.1 –4.6 1.2 0.3 0.9 –19.1 4.2 0.6 3.7 1.1 16.3 5.6 10.6 3.5 3.6 0.0 1.2 7.6 –5.9 0.8 –0.1 –0.1 –1.3 2.5 16.9 –22.9 –18.6 –35.2 –2.9 –32.3 16.6 –4.6 0.2 0.2 0.0 39.8 –0.5 0.6 –1.1 1.3 7.8 5.7 2.3 5.0 4.9 7.8 –0.2 2.1 –5.2 –0.3 0.6 0.1 1.5 5.9 27.7 –6.6 –2.2 –13.1 0.6 –13.7 10.8 –4.5 0.3 0.3 0.0 34.3 2.1 3.2 –1.0 8.1 –18.1 –17.5 –0.7 13.3 13.1 –2.5 6.9 4.0 –0.4 2.2 3.0 0.2 1.5 2.4 16.7 42.4 38.5 20.5 3.2 17.3 18.1 3.1 0.7 0.2 0.5 –25.7 5.9 3.2 2.7 8.8 –9.4 –17.4 8.0 0.5 0.4 –2.4 2.3 3.4 –3.6 0.9 –0.3 0.1 0.1 1.8 9.4 39.0 35.6 44.6 11.2 33.4 –9.0 3.1 0.3 0.3 0.0 –29.6 11.6 3.2 8.4 9.0 –12.2 –17.4 5.2 13.6 13.4 13.9 1.6 0.5 –2.0 –1.1 0.6 0.2 2.9 5.7 42.1 87.3 84.0 60.6 23.8 36.8 23.4 3.1 0.2 0.2 0.0 –45.2 –2.1 –1.9 –0.2 5.5 17.2 12.4 4.8 –6.7 –6.8 –10.3 –1.9 3.2 –1.8 1.5 2.5 0.1 –1.9 –0.3 0.8 –18.0 –20.2 –28.2 –23.2 –4.9 7.9 2.0 0.2 0.2 0.0 18.8 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 24.8 24.0 –1.7 1.6 32.7 35.2 16.9 15.4 –0.7 8.3 –24.3 –28.2 –2.0 2.2 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. –5.8 44 –12.2 45 Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2010 2011 2011 II 1 Personal income .................................................................................... 2 Compensation of employees, received ............................................ 3 Wage and salary disbursements.................................................... 4 Private industries ........................................................................... 5 Goods-producing industries........................................................ 6 Manufacturing.......................................................................... 7 Services-producing industries .................................................... 8 Trade, transportation, and utilities............................................ 9 Other services-producing industries........................................ 10 Government ................................................................................... 11 Supplements to wages and salaries.............................................. 12 Employer contributions for employee pension and insurance funds 13 Employer contributions for government social insurance ............... 14 Proprietors’ income with inventory valuation and capital consumption adjustments.............................................................. 15 Farm .................................................................................................. 16 Nonfarm............................................................................................. 17 Rental income of persons with capital consumption adjustment 18 Personal income receipts on assets................................................. 19 Personal interest income ................................................................... 20 Personal dividend income ................................................................. 21 Personal current transfer receipts .................................................... 22 Government social benefits to persons ............................................. 23 Social security 1 ............................................................................. 24 Medicare 2 ...................................................................................... 25 Medicaid......................................................................................... 26 Unemployment insurance............................................................... 27 Veterans’ benefits........................................................................... 28 Other .............................................................................................. 29 Other current transfer receipts, from business (net) .......................... 30 Less: Contributions for government social insurance, domestic 31 Less: Personal current taxes ................................................................ 32 Equals: Disposable personal income .................................................. 33 Less: Personal outlays .......................................................................... 34 Personal consumption expenditures..................................................... 35 Goods................................................................................................ 36 Durable goods................................................................................ 37 Nondurable goods.......................................................................... 38 Services ............................................................................................ 39 Personal interest payments 3 ................................................................ 40 Personal current transfer payments ...................................................... 41 To government................................................................................... 42 To the rest of the world (net).............................................................. 43 Equals: Personal saving........................................................................ Addenda: 44 Personal income excluding current transfer receipts, billions of chained (2005) dollars 4 .................................................................... 45 Disposable personal income, billions of chained (2005) dollars 4 ........ III 2012 IV I II r Line III r 454.9 175.6 134.3 118.2 –5.8 12.6 124.0 16.4 107.6 16.1 41.4 30.1 11.2 625.4 325.2 256.7 252.7 51.1 32.5 201.6 44.6 157.0 4.0 68.5 41.7 26.8 82.4 50.1 37.7 34.1 5.3 –1.3 28.9 3.7 25.1 3.6 12.4 10.4 2.1 37.4 31.7 21.9 21.6 8.5 3.1 13.0 7.4 5.7 0.3 9.8 8.8 1.0 41.1 22.0 14.3 19.5 –9.0 –9.1 28.5 2.4 26.0 –5.2 7.7 7.3 0.4 209.7 155.6 133.5 126.9 36.6 22.1 90.2 26.7 63.5 6.6 22.1 8.1 14.0 99.9 32.0 23.3 22.6 17.8 21.2 4.9 15.1 –10.2 0.7 8.7 8.1 0.6 71.4 40.4 30.4 26.9 5.4 5.5 21.4 8.8 12.7 3.6 10.0 8.5 1.4 1 2 3 4 5 6 7 8 9 10 11 12 13 124.0 4.4 119.6 59.5 –28.2 –76.7 48.5 144.2 136.4 25.7 20.8 27.4 7.7 6.4 48.4 7.8 20.2 50.2 404.7 346.1 369.8 170.5 49.8 120.7 199.4 –33.3 9.6 2.2 7.4 58.5 53.9 10.3 43.7 60.5 86.8 –7.8 94.6 34.9 37.4 23.1 29.8 7.3 –30.9 5.4 2.7 –2.5 –64.0 203.2 422.2 499.5 513.3 259.9 67.0 192.9 253.3 –15.8 1.9 1.5 0.4 –77.3 6.7 –3.4 10.1 14.7 18.1 7.8 10.2 –2.6 –1.2 8.9 8.0 –10.1 –10.3 1.2 1.1 –1.4 4.7 24.1 58.2 117.0 118.6 42.9 –2.1 44.9 75.7 –2.3 0.7 0.3 0.3 –58.7 6.7 2.7 4.0 9.1 –3.3 –20.9 17.6 –5.2 –4.4 4.0 6.0 –12.6 –5.8 2.5 1.5 –0.8 1.6 7.2 30.3 105.8 106.3 39.3 13.0 26.3 67.0 –0.5 0.0 0.5 –0.5 –75.6 3.9 –0.9 4.8 16.5 –4.5 –16.4 11.9 5.2 5.6 5.9 4.0 –4.1 –2.1 –0.2 2.2 –0.4 2.0 15.3 25.7 84.7 82.6 46.4 30.3 16.3 36.2 –0.3 2.4 0.7 1.8 –58.9 19.0 –2.1 21.2 15.0 11.8 3.8 8.0 28.1 26.7 31.3 2.8 5.6 –6.7 4.1 –10.5 1.4 19.8 31.7 178.1 143.1 133.4 65.9 29.5 36.3 67.5 8.4 1.3 0.7 0.4 35.0 10.6 0.2 10.3 7.5 34.4 14.3 20.0 17.2 16.8 6.2 1.0 16.3 –10.4 2.7 0.9 0.5 1.8 14.4 85.4 57.4 60.0 –14.4 –4.3 –10.1 74.4 –4.2 1.6 0.8 0.9 28.0 11.0 7.0 4.1 18.3 –17.8 –29.2 11.4 22.7 22.2 5.7 9.3 10.3 –8.9 2.5 3.4 0.3 3.2 10.3 61.1 85.5 82.6 49.9 18.0 31.9 32.6 1.7 1.3 0.7 0.5 –24.4 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 43 112.4 179.8 304.2 133.2 –7.1 –37.9 –16.6 –32.2 6.8 –4.1 100.3 92.4 55.6 56.7 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 4.5 44 12.1 45 Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2012 March April r May r June r Line July r Aug. r r Sept. p Oct. Based on current-dollar measures 1 Personal income .......................................................................... 2 Compensation of employees, received ....................................... 3 Wage and salary disbursements ............................................. 4 Supplements to wages and salaries........................................ 5 Proprietors’ income with inventory valuation and capital consumption adjustments........................................................ 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ........................................... 8 Personal interest income ......................................................... 9 Personal dividend income ....................................................... 10 Personal current transfer receipts............................................... 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes ...................................................... 13 Equals: Disposable personal income ........................................ Addenda: 14 Personal consumption expenditures........................................... 15 Goods...................................................................................... 16 Durable goods...................................................................... 17 Nondurable goods................................................................ 18 Services .................................................................................. 0.5 0.5 0.6 0.3 0.0 –0.2 –0.3 0.1 0.1 –0.1 –0.1 0.1 0.3 0.3 0.3 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.0 0.2 0.4 0.3 0.3 0.3 0.0 –0.2 –0.2 0.1 1 2 3 4 0.2 1.3 0.4 0.3 0.6 0.4 0.4 0.6 0.5 0.2 0.1 0.8 0.6 1.2 0.2 –0.3 0.1 0.0 0.4 0.2 0.9 0.6 1.5 0.1 –0.1 0.2 0.1 0.0 0.3 0.5 0.6 0.3 0.2 0.2 0.4 0.2 0.2 1.8 –1.0 –1.7 –0.1 0.6 0.2 0.2 0.1 0.5 1.9 –0.5 –1.8 1.1 0.0 0.0 0.1 0.1 1.0 1.9 –0.7 –1.8 0.7 0.6 0.3 0.4 0.4 –0.2 1.1 1.0 1.3 0.6 –0.3 –0.2 0.0 0.0 5 6 7 8 9 10 11 12 13 0.3 0.4 –0.1 0.6 0.2 0.2 –0.3 –0.4 –0.2 0.5 –0.2 –0.9 –0.2 –1.3 0.2 0.0 –0.4 0.1 –0.5 0.1 0.3 0.6 0.3 0.7 0.2 0.3 1.2 0.9 1.3 –0.1 0.8 1.6 2.0 1.4 0.3 –0.2 –0.7 –1.9 –0.2 0.1 14 15 16 17 18 0.2 0.2 0.0 0.1 –0.3 –0.3 0.0 0.0 –0.1 19 –0.1 20 Based on chained (2005) dollar measures 19 20 Real personal income excluding current transfer receipts .......... Real disposable personal income............................................... 0.3 0.2 0.0 0.0 0.3 0.3 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2010 2011 2011 II 2012 III IV I II Line r III r Based on current-dollar measures 1 Personal income .......................................................................... 2 Compensation of employees, received ....................................... 3 Wage and salary disbursements ............................................. 4 Supplements to wages and salaries........................................ 5 Proprietors’ income with inventory valuation and capital consumption adjustments........................................................ 6 Rental income of persons with capital consumption adjustment 7 Personal income receipts on assets ........................................... 8 Personal interest income ......................................................... 9 Personal dividend income ....................................................... 10 Personal current transfer receipts............................................... 11 Less: Contributions for government social insurance, domestic 12 Less: Personal current taxes ...................................................... 13 Equals: Disposable personal income ........................................ Addenda: 14 Personal consumption expenditures........................................... 15 Goods...................................................................................... 16 Durable goods...................................................................... 17 Nondurable goods................................................................ 18 Services .................................................................................. 3.8 2.3 2.1 2.7 5.1 4.1 4.0 4.4 2.6 2.5 2.3 3.1 1.2 1.5 1.3 2.4 1.3 1.1 0.9 1.9 6.6 7.7 8.2 5.5 3.1 1.5 1.4 2.1 2.2 1.9 1.8 2.4 1 2 3 4 12.7 20.5 –1.7 –7.0 9.1 6.7 2.1 4.4 3.8 4.9 17.3 5.4 –0.8 16.3 1.5 –6.5 17.0 3.8 2.3 15.9 4.4 3.1 6.4 –0.4 2.1 7.2 2.0 2.4 9.4 –0.8 –7.9 10.9 –0.9 0.7 2.1 1.1 1.3 16.9 –1.0 –6.4 7.2 0.9 0.9 4.4 0.9 6.7 14.7 2.8 1.5 4.6 4.9 8.8 9.2 6.3 3.6 7.0 8.4 5.9 11.9 3.0 0.8 4.0 2.9 3.7 17.1 –4.1 –11.1 6.4 3.9 1.3 2.8 2.1 5 6 7 8 9 10 11 12 13 3.8 5.3 4.8 5.6 3.0 5.0 7.7 6.2 8.4 3.7 4.6 4.9 –0.7 7.6 4.4 4.0 4.4 4.7 4.3 3.8 3.1 5.2 11.0 2.6 2.0 5.0 7.3 10.4 5.9 3.8 2.2 –1.5 –1.4 –1.6 4.2 3.0 5.4 6.1 5.1 1.8 14 15 16 17 18 –0.7 –1.3 0.3 –0.2 4.4 3.7 2.4 2.2 Based on chained (2005) dollar measures 19 20 Real personal income excluding current transfer receipts .......... Real disposable personal income............................................... 1.3 1.8 3.4 1.3 –0.3 –1.5 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. 0.2 19 0.5 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2012 Line March April May June July r Aug. r Sept. r Oct. p Line Billions of chained (2005) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures ......................................... 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... 9,562.5 3,415.1 1,340.2 2,093.5 6,153.3 9,583.8 3,415.3 1,336.8 2,096.2 6,173.9 9,586.9 3,410.3 1,333.2 2,094.3 6,181.6 9,577.0 3,402.6 1,335.8 2,085.4 6,179.0 9,604.6 3,420.6 1,343.6 2,095.9 6,189.3 9,601.4 3,432.9 1,358.5 2,096.0 6,174.8 9,641.9 3,462.9 1,388.0 2,101.6 6,186.4 9,612.4 3,436.1 1,364.7 2,094.4 6,182.6 1 2 3 4 5 Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures ......................................... 7 Goods ......................................................................................... 8 Durable goods ......................................................................... 9 Nondurable goods ................................................................... 10 Services...................................................................................... 2.4 2.7 0.0 2.5 –0.2 21.3 0.2 –3.4 2.7 20.6 3.1 –5.0 –3.6 –1.9 7.7 –9.9 –7.7 2.6 –8.9 –2.6 27.6 18.0 7.8 10.5 10.3 –3.2 12.3 14.9 0.1 –14.5 40.5 30.0 29.5 5.6 11.6 0.0 0.4 1.1 0.0 –0.2 0.4 0.9 2.2 0.3 0.2 –29.5 6 –26.8 7 –23.3 8 –7.2 9 –3.8 10 Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures ......................................... 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... 0.0 0.1 0.0 0.1 0.0 0.2 0.0 –0.3 0.1 0.3 0.0 –0.1 –0.3 –0.1 0.1 –0.1 –0.2 0.2 –0.4 0.0 0.3 0.5 0.6 0.5 0.2 –0.3 –0.8 –1.7 –0.3 –0.1 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 2010 2011 2011 II III 2012 IV I II Line III r Billions of chained (2005) dollars 1 Personal consumption expenditures ......................................... 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... 9,196.2 3,209.1 1,178.3 2,029.3 5,987.6 9,428.8 3,331.0 1,262.6 2,075.2 6,101.5 9,403.2 3,312.2 1,242.3 2,073.5 6,094.0 9,441.9 3,323.5 1,258.6 2,071.4 6,121.1 9,489.3 3,367.9 1,300.1 2,080.5 6,126.0 9,546.8 3,406.6 1,336.1 2,088.9 6,145.9 9,582.5 3,409.4 1,335.3 2,092.0 6,178.2 47.4 44.4 41.5 9.1 4.9 57.5 38.7 36.0 8.4 19.9 35.7 2.8 –0.8 3.1 32.3 2.0 5.4 13.9 1.8 0.3 2.4 4.7 11.5 1.6 1.3 1.5 0.3 –0.2 0.6 2.1 9,615.9 3,438.8 1,363.4 2,097.9 6,183.5 1 2 3 4 5 Change from preceding period in billions of chained (2005) dollars 6 Personal consumption expenditures ......................................... 7 Goods ......................................................................................... 8 Durable goods ......................................................................... 9 Nondurable goods ................................................................... 10 Services...................................................................................... 163.6 110.9 69.2 46.5 57.0 232.6 121.9 84.3 45.9 113.9 22.3 –8.1 –7.1 –1.8 29.2 38.7 11.3 16.3 –2.1 27.1 33.4 6 29.4 7 28.1 8 5.9 9 5.3 10 Percent change from preceding period in chained (2005) dollars 11 Personal consumption expenditures ......................................... 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... r Revised 1.8 3.6 6.2 2.3 1.0 2.5 3.8 7.2 2.3 1.9 1.0 –1.0 –2.3 –0.3 1.9 1.7 1.4 5.4 –0.4 1.8 1.4 3.5 8.7 1.1 0.3 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2012 Line March April May June July r Aug. r Sept. r Oct.p Line Chain-type price indexes (2005=100), seasonally adjusted 1 Personal consumption expenditures (PCE) .............................. 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... Addenda: 6 PCE excluding food and energy ................................................. 7 Food 1 ......................................................................................... 8 Energy goods and services 2...................................................... 9 Market-based PCE 3 ................................................................... 10 Market-based PCE excluding food and energy 3 ........................ 115.602 110.696 90.065 122.912 118.214 115.618 110.369 89.917 122.473 118.420 115.386 109.499 89.938 121.043 118.541 115.483 109.361 89.809 120.900 118.766 115.552 109.387 89.525 121.121 118.861 115.962 110.297 89.369 122.708 118.994 116.346 111.090 89.181 124.134 119.149 116.492 111.137 89.002 124.328 119.351 1 2 3 4 5 113.313 120.597 147.531 115.530 112.863 113.460 120.716 144.835 115.526 113.007 113.574 120.576 138.079 115.301 113.183 113.774 120.869 135.958 115.396 113.398 113.874 120.862 135.628 115.465 113.501 113.900 120.956 143.466 115.950 113.555 113.969 120.884 150.355 116.392 113.642 114.120 6 121.238 7 150.089 8 116.534 9 113.790 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 ........................ 0.2 0.3 –0.1 0.5 0.2 0.0 –0.3 –0.2 –0.4 0.2 –0.2 –0.8 0.0 –1.2 0.1 0.1 –0.1 –0.1 –0.1 0.2 0.1 0.0 –0.3 0.2 0.1 0.4 0.8 –0.2 1.3 0.1 0.3 0.7 –0.2 1.2 0.1 0.1 0.0 –0.2 0.2 0.2 11 12 13 14 15 0.2 0.1 1.0 0.2 0.2 0.1 0.1 –1.8 0.0 0.1 0.1 –0.1 –4.7 –0.2 0.2 0.2 0.2 –1.5 0.1 0.2 0.1 0.0 –0.2 0.1 0.1 0.0 0.1 5.8 0.4 0.0 0.1 –0.1 4.8 0.4 0.1 0.1 0.3 –0.2 0.1 0.1 16 17 18 19 20 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line March 1 Disposable personal income ...................................................... 2 Personal consumption expenditures ......................................... 3 Goods ......................................................................................... 4 Durable goods ......................................................................... 5 Nondurable goods ................................................................... 6 Services...................................................................................... April 0.7 1.6 2.6 6.6 0.7 1.1 r May 0.7 1.8 2.4 6.5 0.5 1.5 r June 1.3 1.9 3.0 7.4 1.0 1.4 r July r 1.3 2.0 3.5 8.6 1.2 1.3 Aug. r 1.5 1.8 3.1 7.3 1.2 1.2 1.5 1.8 3.7 8.9 1.4 0.9 Sept. r Oct. p 1.6 1.9 3.6 8.8 1.2 1.0 1.2 1.3 2.0 5.5 0.4 1.0 Line 1 2 3 4 5 6 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2012. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line 1 Personal consumption expenditures (PCE) .............................. 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... Addenda: 6 PCE excluding food and energy ................................................. 7 Food 1 ......................................................................................... 8 Energy goods and services 2...................................................... 9 Market-based PCE 3 ................................................................... 10 Market-based PCE excluding food and energy 3 ........................ March April May June July r Aug. r Sept. r 2.2 2.5 –0.8 4.0 2.1 1.9 1.6 –1.2 2.9 2.1 1.5 0.6 –1.3 1.4 2.0 1.5 0.4 –1.6 1.3 2.1 1.3 0.1 –1.8 1.0 2.0 1.4 0.6 –1.8 1.7 1.9 1.6 1.1 –1.6 2.4 1.9 2.0 3.2 5.4 2.3 2.0 1.9 2.9 1.5 2.0 2.0 1.7 2.4 –3.3 1.6 1.9 1.8 2.4 –3.6 1.6 1.9 1.7 2.0 –4.7 1.4 1.8 1.5 1.5 0.0 1.5 1.7 1.6 0.9 3.2 1.7 1.7 Oct. p 1.7 1.3 –1.8 2.8 2.0 Line 1 2 3 4 5 1.6 6 1.0 7 4.8 8 1.8 9 1.7 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.