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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, NOVEMBER 25, 2015 BEA 15-56 Technical: James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov Media: Jeannine Aversa (202) 606-2649 PERSONAL INCOME AND OUTLAYS: OCTOBER 2015 Personal income increased $68.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $56.8 billion, or 0.4 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $15.2 billion, or 0.1 percent. In September, personal income increased $27.4 billion, or 0.2 percent, DPI increased $27.0 billion, or 0.2 percent, and PCE increased $9.5 billion, or 0.1 percent, based on revised estimates. Real DPI increased 0.4 percent in October, compared with an increase of 0.3 percent in September. Real PCE increased 0.1 percent in October, the same increase as in September. June Personal income, current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars 0.5 2015 July Aug. Sept. (Percent change from preceding month) 0.4 0.4 0.2 Oct. 0.4 0.5 0.2 0.5 0.4 0.4 0.4 0.2 0.3 0.4 0.4 0.3 0.1 0.3 0.2 0.3 0.3 0.1 0.1 0.1 0.1 This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for April through June 2015 (second quarter). These estimates reflect the incorporation of the most recently available second-quarter wage and salary tabulations from the Quarterly Census of Employment and Wages (QCEW) from the Bureau of Labor Statistics. ___________________ NOTE. Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Monthto-month dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2009) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- Compensation Wages and salaries increased $45.0 billion in October, compared with an increase of $2.5 billion in September. Private wages and salaries increased $43.0 billion, compared with an increase of $1.5 billion. Government wages and salaries increased $2.0 billion, compared with an increase of $1.0 billion. Supplements to wages and salaries increased $6.5 billion in October, compared with an increase of $3.4 billion in September. Other personal income Proprietors' income increased $4.3 billion in October, compared with an increase of $5.9 billion in September. Farm proprietors' income decreased $0.4 billion, in contrast to an increase of $3.4 billion. Nonfarm proprietors' income increased $4.7 billion, compared with an increase of $2.5 billion. Rental income of persons increased $5.2 billion in October, compared with an increase of $2.6 billion in September. Personal income receipts on assets (personal interest income plus personal dividend income) increased $4.7 billion, compared with an increase of $5.8 billion. Personal current transfer receipts increased $8.0 billion in October, compared with an increase of $7.2 billion in September. Contributions for government social insurance -- a subtraction in calculating personal income -increased $5.5 billion in October, in contrast to a decrease of $0.1 billion in September Personal current taxes and disposable personal income Personal current taxes increased $11.4 billion in October, compared with an increase of $0.4 billion in September. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $56.8 billion, or 0.4 percent, compared with an increase of $27.0 billion, or 0.2 percent. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $17.8 billion in October, compared with an increase of $7.3 billion in September. PCE increased $15.2 billion, compared with an increase of $9.5 billion. Personal saving -- DPI less personal outlays -- was $761.9 billion in October, compared with $722.9 billion in September. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.6 percent, compared with 5.3 percent. 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 and data on changes in net worth, go to www.bea.gov/national/nipaweb/nipa-frb.asp. -more- -3- Real DPI, real PCE, and price index Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in October, compared with an increase of 0.3 percent in September. Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in October, the same increase as in September. Purchases of durable goods increased 0.2 percent in October, the same increase as in September. Purchases of nondurable goods increased 0.1 percent in October, in contrast to a decrease of 0.2 percent in September. Purchases of services increased less than 0.1 percent, compared to an increase of 0.2 percent. The price index for PCE increased 0.1 percent in October, in contrast to a decrease of 0.1 percent in September. The PCE price index, excluding food and energy, increased less than 0.1 percent, compared to an increase of 0.2 percent. The October price index for PCE increased 0.2 percent from October a year ago. The October PCE price index, excluding food and energy, increased 1.3 percent from October a year ago. Revisions Estimates have been revised for April through September. Changes in personal income, in currentdollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for August and September -- revised and as published in last month's release -- are shown below. Estimates of wages and salaries were revised from April through September. The revision to secondquarter wages and salaries reflect the incorporation of the most recently available BLS tabulations of second-quarter wages and salaries from the QCEW. Revised estimates for July, August, and September reflect extrapolation 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. Change from preceding month August Previous Revised Previous Revised (Billions of dollars) (Percent) Personal income: Current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars September Previous Revised Previous Revised (Billions of dollars) (Percent) 54.9 56.0 0.4 0.4 18.6 27.4 0.1 0.2 49.5 46.9 51.0 48.9 0.4 0.4 0.4 0.4 19.2 27.3 27.0 32.3 0.1 0.2 0.2 0.3 44.2 41.9 40.2 38.9 0.4 0.4 0.3 0.3 15.6 23.2 9.5 15.6 0.1 0.2 0.1 0.1 -more- -4- BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of Current Business are available for free on BEA's Web site at www.bea.gov. The entire historical time series for these estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm. BEA's news release schedule is available at www.bea.gov/newsreleases/2016rd.htm. * * * Next release – December 23, 2015 at 8:30 A.M. EST for Personal Income and Outlays for November Personal Income and Outlays Release Dates for 2016 December 2015.. February 1 January 2016….. February 26 February 2016… March 28 March 2016…… April 29 April 2016…May 31 May 2016… June 29 June 2016… August 2 July 2016…. August 29 -more- August 2016…… September 30 September 2016…October 31 October 2016……November 30 November 2016…December 22 Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2015 March 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 ........................................................ April r May r June r Line July r Aug. r Sept. r Oct. p 15,095.6 15,192.6 15,282.4 15,356.0 15,422.3 15,478.2 15,505.7 15,573.8 1 9,493.2 9,558.7 9,625.8 9,661.0 9,706.6 9,747.5 9,753.4 9,804.9 2 7,684.3 7,742.4 7,801.8 7,831.1 7,870.5 7,905.3 7,907.8 7,952.8 3 6,425.2 6,480.8 6,537.1 6,562.3 6,598.5 6,630.4 6,631.9 6,674.9 4 1,284.5 1,295.9 1,305.6 1,308.2 1,316.6 1,320.0 1,315.9 1,322.1 5 789.4 796.8 803.5 804.9 810.2 814.0 811.9 813.2 6 5,140.7 5,184.9 5,231.4 5,254.1 5,282.0 5,310.4 5,316.0 5,352.8 7 1,209.3 1,220.7 1,231.9 1,234.8 1,241.1 1,247.7 1,250.5 1,259.4 8 3,931.5 3,964.2 3,999.6 4,019.4 4,040.9 4,062.7 4,065.5 4,093.4 9 1,259.0 1,261.6 1,264.7 1,268.8 1,272.0 1,274.9 1,275.9 1,277.9 10 1,808.9 1,816.3 1,824.0 1,829.8 1,836.1 1,842.2 1,845.6 1,852.1 11 1,250.5 1,254.4 1,258.3 1,262.4 1,266.4 1,270.4 1,274.1 1,277.9 12 558.4 562.0 565.7 567.4 569.7 571.8 571.5 574.2 13 1,365.2 1,368.2 1,376.8 1,386.0 1,399.4 1,401.1 1,407.0 1,411.3 14 52.5 54.0 56.9 59.7 63.1 66.5 69.9 69.6 15 1,312.8 1,314.2 1,319.9 1,326.3 1,336.3 1,334.6 1,337.1 1,341.8 16 640.8 647.0 654.2 661.1 661.5 663.4 666.0 671.2 17 2,138.0 2,165.4 2,174.3 2,195.3 2,196.3 2,201.8 2,207.6 2,212.3 18 1,278.3 1,295.9 1,313.4 1,331.0 1,332.1 1,333.2 1,334.3 1,331.5 19 859.7 869.6 860.8 864.3 864.2 868.6 873.2 880.8 20 2,643.9 2,646.0 2,651.7 2,656.3 2,666.9 2,677.1 2,684.3 2,692.3 21 2,601.4 2,603.3 2,608.8 2,613.2 2,623.6 2,633.6 2,640.7 2,648.5 22 865.4 867.7 871.8 868.7 872.3 876.0 875.4 877.5 23 611.5 613.3 615.3 617.4 619.8 622.4 625.2 628.2 24 529.5 528.2 527.9 530.8 536.5 540.1 544.6 548.4 25 34.6 33.1 32.9 33.4 33.0 33.2 32.6 31.7 26 92.3 93.6 93.3 95.3 95.1 94.7 95.5 96.2 27 468.1 467.4 467.6 467.5 466.9 467.3 467.3 466.5 28 42.6 42.7 42.9 43.1 43.3 43.4 43.6 43.8 29 1,185.5 1,192.7 1,200.2 1,203.7 1,208.4 1,212.7 1,212.6 1,218.1 30 1,902.8 1,923.3 1,941.4 1,951.3 1,955.1 1,960.1 1,960.5 1,971.9 31 13,192.8 13,269.3 13,341.0 13,404.7 13,467.1 13,518.1 13,545.2 13,601.9 32 12,540.3 12,587.6 12,696.6 12,739.2 12,777.0 12,815.0 12,822.3 12,840.0 33 12,105.0 12,146.3 12,250.5 12,288.2 12,328.6 12,368.8 12,378.3 12,393.5 34 3,938.7 3,930.9 4,001.6 4,002.0 4,025.9 4,032.5 4,010.2 4,013.4 35 1,315.3 1,320.6 1,337.4 1,321.0 1,334.2 1,338.7 1,345.5 1,345.0 36 2,623.4 2,610.2 2,664.2 2,680.9 2,691.7 2,693.8 2,664.7 2,668.4 37 8,166.3 8,215.5 8,248.9 8,286.2 8,302.7 8,336.3 8,368.1 8,380.0 38 259.8 264.6 269.3 274.1 271.6 269.2 266.8 269.1 39 175.5 176.7 176.8 176.9 176.7 177.0 177.2 177.5 40 97.0 97.1 97.2 97.3 97.5 97.7 98.0 98.3 41 78.5 79.6 79.6 79.6 79.2 79.2 79.2 79.2 42 652.5 681.7 644.3 665.5 690.1 703.1 722.9 761.9 43 4.9 5.1 4.8 5.0 5.1 5.2 5.3 5.6 44 11,422.4 11,502.1 11,544.0 11,580.3 11,620.4 11,664.5 11,690.1 11,737.5 45 12,102.2 12,164.6 12,193.2 12,223.2 12,268.8 12,317.8 12,350.0 12,394.0 46 41,125 37,726 320,797 41,341 37,899 320,975 41,540 37,966 321,162 41,712 38,035 321,365 41,878 38,152 321,578 42,007 38,277 321,805 42,062 38,350 322,030 42,210 47 38,462 48 322,243 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 2015. 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 2013 2014 2014 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 2015 IV I II r Line III r 14,068.4 14,694.2 14,612.8 14,774.8 14,955.7 15,079.8 15,277.0 15,468.7 1 8,839.7 9,248.9 9,177.3 9,289.9 9,424.9 9,487.9 9,615.2 9,735.8 2 7,114.4 7,477.8 7,414.5 7,513.9 7,632.6 7,682.4 7,791.8 7,894.5 3 5,906.8 6,240.5 6,180.3 6,270.7 6,384.4 6,425.9 6,526.7 6,620.3 4 1,190.1 1,260.9 1,250.4 1,266.6 1,292.9 1,288.0 1,303.2 1,317.5 5 746.8 780.9 775.1 781.4 796.5 792.1 801.7 812.0 6 4,716.7 4,979.7 4,930.0 5,004.1 5,091.5 5,138.0 5,223.5 5,302.8 7 1,118.5 1,175.5 1,165.7 1,179.2 1,203.3 1,210.9 1,229.1 1,246.4 8 3,598.2 3,804.2 3,764.3 3,825.0 3,888.2 3,927.0 3,994.4 4,056.4 9 1,207.6 1,237.2 1,234.2 1,243.2 1,248.2 1,256.5 1,265.0 1,274.3 10 1,725.3 1,771.2 1,762.7 1,776.0 1,792.3 1,805.5 1,823.4 1,841.3 11 1,197.8 1,224.0 1,219.4 1,227.1 1,236.3 1,246.8 1,258.3 1,270.3 12 527.5 547.2 543.3 548.9 556.0 558.7 565.0 571.0 13 1,285.1 1,346.7 1,346.3 1,357.8 1,377.9 1,369.4 1,377.0 1,402.5 14 88.8 78.1 88.8 77.2 74.8 60.5 56.9 66.5 15 1,196.3 1,268.6 1,257.5 1,280.6 1,303.0 1,308.9 1,320.1 1,336.0 16 563.4 610.8 605.5 618.4 628.4 637.0 654.1 663.7 17 2,060.4 2,117.5 2,121.8 2,115.0 2,130.6 2,145.5 2,178.3 2,201.9 18 1,271.3 1,302.0 1,310.0 1,288.1 1,289.8 1,282.6 1,313.4 1,333.2 19 789.0 815.5 811.9 826.8 840.8 863.0 864.9 868.7 20 2,426.6 2,529.2 2,513.1 2,556.5 2,571.0 2,625.8 2,651.3 2,676.1 21 2,385.5 2,487.2 2,471.1 2,514.4 2,528.9 2,583.4 2,608.4 2,632.6 22 799.0 834.6 833.2 837.2 843.8 861.6 869.4 874.6 23 574.6 597.8 595.6 600.8 605.3 609.8 615.3 622.5 24 439.7 487.4 473.6 505.9 507.1 523.9 529.0 540.4 25 62.3 35.8 36.0 34.6 32.9 35.0 33.1 32.9 26 79.1 83.7 82.3 83.8 86.7 90.7 94.1 95.1 27 430.8 447.9 450.5 452.2 453.3 462.2 467.5 467.2 28 41.2 42.0 42.0 42.1 42.1 42.4 42.9 43.4 29 1,106.8 1,159.0 1,151.2 1,162.9 1,177.2 1,185.8 1,198.9 1,211.3 30 1,672.8 1,780.2 1,754.1 1,792.0 1,838.8 1,900.1 1,938.7 1,958.6 31 12,395.6 12,913.9 12,858.7 12,982.7 13,116.8 13,179.8 13,338.3 13,510.1 32 11,805.7 12,293.7 12,235.2 12,377.0 12,502.5 12,492.2 12,674.5 12,804.7 33 11,392.3 11,865.9 11,813.0 11,949.1 12,061.4 12,055.5 12,228.4 12,358.6 34 3,836.8 3,948.4 3,951.5 3,987.4 3,980.1 3,901.5 3,978.1 4,022.9 35 1,237.8 1,280.2 1,279.1 1,295.1 1,303.5 1,301.8 1,326.4 1,339.5 36 2,598.9 2,668.2 2,672.4 2,692.2 2,676.6 2,599.7 2,651.8 2,683.4 37 7,555.5 7,917.5 7,861.5 7,961.7 8,081.3 8,153.9 8,250.2 8,335.7 38 244.2 254.2 250.5 254.3 263.1 261.3 269.3 269.2 39 169.3 173.6 171.7 173.6 178.0 175.5 176.8 177.0 40 92.6 95.3 95.2 95.7 95.9 97.0 97.2 97.8 41 76.6 78.3 76.5 77.9 82.2 78.5 79.6 79.2 42 589.9 620.2 623.5 605.7 614.3 687.6 663.9 705.4 43 4.8 4.8 4.8 4.7 4.7 5.2 5.0 5.2 44 10,822.3 11,149.8 11,089.0 11,164.6 11,329.0 11,447.6 11,542.2 11,658.3 45 11,523.1 11,836.3 11,784.7 11,863.1 11,998.7 12,114.7 12,193.6 12,312.2 46 39,123 36,369 316,839 40,461 37,084 319,173 40,331 36,962 318,833 40,638 37,134 319,470 40,977 37,484 320,100 41,107 37,785 320,623 41,531 37,967 321,167 41,982 47 38,260 48 321,804 49 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2015. 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 2015 March 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............ April r May r June r Line July r Aug. r Sept. r Oct. p –0.2 4.7 1.3 –1.0 –1.8 –1.9 0.9 –3.9 4.8 2.3 3.4 3.8 –0.4 97.0 65.6 58.1 55.6 11.4 7.3 44.1 11.4 32.7 2.6 7.4 3.8 3.6 89.8 67.1 59.4 56.3 9.7 6.7 46.6 11.2 35.4 3.1 7.7 3.9 3.8 73.6 35.2 29.4 25.3 2.6 1.5 22.7 2.9 19.8 4.1 5.8 4.1 1.7 66.3 45.6 39.3 36.2 8.3 5.3 27.8 6.3 21.5 3.2 6.3 4.0 2.3 56.0 40.9 34.8 31.9 3.4 3.8 28.5 6.6 21.8 3.0 6.1 4.0 2.1 27.4 5.9 2.5 1.5 –4.1 –2.1 5.6 2.8 2.8 1.0 3.4 3.6 –0.2 68.1 51.4 45.0 43.0 6.2 1.2 36.8 8.9 27.9 2.0 6.5 3.8 2.7 1 2 3 4 5 6 7 8 9 10 11 12 13 –2.2 –8.0 5.8 3.9 –27.8 –4.2 –23.5 20.7 20.5 5.8 1.7 4.6 –0.7 2.0 7.2 0.2 –0.5 2.6 –2.8 60.8 62.3 57.7 23.1 34.6 4.6 –1.5 0.0 0.0 0.0 –63.6 3.0 1.6 1.4 6.2 27.4 17.5 9.9 2.1 1.9 2.3 1.8 –1.3 –1.5 1.3 –0.7 0.2 7.3 20.5 76.5 47.3 41.3 –7.9 5.3 –13.2 49.2 4.8 1.2 0.1 1.1 29.2 8.6 2.8 5.7 7.2 8.8 17.5 –8.7 5.7 5.5 4.1 2.0 –0.3 –0.2 –0.3 0.2 0.2 7.5 18.1 71.7 109.1 104.2 70.8 16.8 54.0 33.5 4.8 0.1 0.1 0.0 –37.4 9.2 2.8 6.4 7.0 21.0 17.5 3.5 4.6 4.4 –3.2 2.2 3.0 0.6 2.0 –0.1 0.2 3.5 9.9 63.7 42.6 37.7 0.4 –16.4 16.7 37.3 4.8 0.1 0.1 0.0 21.1 13.4 3.4 10.0 0.4 1.0 1.1 –0.2 10.6 10.4 3.6 2.4 5.7 –0.4 –0.2 –0.6 0.2 4.7 3.9 62.4 37.8 40.4 23.9 13.2 10.7 16.5 –2.4 –0.2 0.2 –0.4 24.6 1.7 3.4 –1.7 1.9 5.5 1.1 4.4 10.2 10.0 3.7 2.6 3.6 0.2 –0.4 0.4 0.2 4.3 5.0 51.0 38.0 40.2 6.6 4.5 2.1 33.6 –2.4 0.2 0.2 0.0 13.0 5.9 3.4 2.5 2.6 5.8 1.1 4.6 7.2 7.0 –0.6 2.8 4.5 –0.6 0.8 0.0 0.2 –0.1 0.4 27.0 7.3 9.5 –22.3 6.8 –29.1 31.8 –2.4 0.3 0.3 0.0 19.7 4.3 –0.4 4.7 5.2 4.7 –2.9 7.6 8.0 7.8 2.1 3.0 3.7 –0.9 0.7 –0.8 0.2 5.5 11.4 56.8 17.8 15.2 3.2 –0.5 3.8 12.0 2.3 0.3 0.3 0.0 39.0 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 –44.3 –29.1 79.7 62.4 41.9 28.5 36.3 30.0 40.1 45.6 44.1 48.9 25.6 32.3 47.4 44 43.9 45 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2015. 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 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............. 2013 2014 2014 2015 II III IV I II r Line III r 153.3 229.8 184.1 174.7 34.6 12.5 140.1 25.9 114.3 9.4 45.6 32.5 13.1 625.8 409.3 363.4 333.8 70.8 34.0 263.0 57.0 206.0 29.6 45.9 26.2 19.7 179.2 73.6 64.5 53.8 16.7 4.6 37.1 11.9 25.1 10.8 9.0 6.3 2.8 162.0 112.6 99.4 90.4 16.2 6.3 74.2 13.5 60.7 9.0 13.3 7.7 5.6 180.9 135.0 118.7 113.7 26.3 15.0 87.4 24.1 63.3 5.0 16.3 9.1 7.1 124.2 63.0 49.8 41.5 –4.9 –4.4 46.4 7.6 38.8 8.3 13.2 10.5 2.7 197.2 127.2 109.3 100.8 15.2 9.6 85.5 18.2 67.3 8.6 17.9 11.6 6.3 191.7 120.7 102.8 93.5 14.2 10.3 79.3 17.3 62.0 9.2 17.9 12.0 6.0 1 2 3 4 5 6 7 8 9 10 11 12 13 43.7 27.2 16.5 38.1 –63.4 –17.5 –45.9 60.3 61.9 36.9 18.2 22.4 –21.5 8.9 –3.2 –1.6 155.2 161.4 –8.1 348.7 341.7 97.7 45.9 51.7 244.0 3.5 3.5 1.6 1.9 –356.8 61.6 –10.6 72.2 47.4 57.1 30.7 26.5 102.5 101.7 35.6 23.2 47.7 –26.5 4.7 17.1 0.8 52.2 107.5 518.3 488.0 473.7 111.7 42.4 69.3 362.0 10.1 4.3 2.7 1.6 30.3 41.5 17.1 24.5 14.6 19.2 –10.2 29.4 37.1 36.9 8.7 6.1 10.5 –3.7 0.3 15.0 0.2 6.7 18.0 161.2 174.9 172.7 76.8 36.0 40.8 96.0 1.5 0.8 0.8 0.0 –13.7 11.5 –11.6 23.1 12.9 –6.9 –21.8 15.0 43.4 43.3 4.0 5.2 32.3 –1.3 1.5 1.6 0.1 11.6 38.0 124.0 141.8 136.1 35.9 16.0 19.8 100.2 3.8 1.9 0.5 1.4 –17.8 20.1 –2.3 22.4 10.0 15.6 1.7 13.9 14.5 14.5 6.6 4.5 1.2 –1.8 2.9 1.1 0.0 14.3 46.8 134.1 125.6 112.3 –7.2 8.4 –15.6 119.6 8.8 4.5 0.2 4.3 8.6 –8.4 –14.3 5.9 8.5 14.9 –7.3 22.2 54.8 54.5 17.9 4.5 16.9 2.2 4.1 9.0 0.3 8.6 61.2 62.9 –10.3 –5.9 –78.6 –1.7 –76.9 72.7 –1.8 –2.6 1.1 –3.7 73.2 7.5 –3.6 11.2 17.1 32.8 30.8 2.0 25.5 25.0 7.8 5.5 5.1 –1.9 3.3 5.2 0.5 13.1 38.6 158.6 182.3 172.9 76.6 24.5 52.1 96.3 8.0 1.3 0.2 1.1 –23.7 25.5 9.7 15.9 9.5 23.6 19.8 3.8 24.8 24.2 5.1 7.1 11.5 –0.2 1.0 –0.3 0.5 12.4 19.9 171.8 130.3 130.2 44.7 13.1 31.6 85.5 –0.1 0.2 0.6 –0.4 41.5 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 –60.3 –165.2 327.5 313.2 72.0 85.9 75.5 78.4 164.4 135.6 118.7 115.9 94.5 78.9 116.2 44 118.6 45 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2015. 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 2015 March April r May r June r Line July r Aug. r Sept. r Oct. 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................................................................................. 0.0 0.0 0.0 0.2 0.6 0.7 0.8 0.4 0.6 0.7 0.8 0.4 0.5 0.4 0.4 0.3 0.4 0.5 0.5 0.3 0.4 0.4 0.4 0.3 0.2 0.1 0.0 0.2 0.4 0.5 0.6 0.4 1 2 3 4 –0.2 0.6 –1.3 –0.3 –2.7 0.8 0.0 0.1 0.0 0.2 1.0 1.3 1.4 1.1 0.1 0.6 1.1 0.6 0.6 1.1 0.4 1.4 –1.0 0.2 0.6 0.9 0.5 0.7 1.1 1.0 1.3 0.4 0.2 0.3 0.5 0.5 1.0 0.1 0.0 0.1 0.0 0.4 0.4 0.2 0.5 0.1 0.3 0.3 0.1 0.5 0.4 0.4 0.3 0.4 0.4 0.4 0.3 0.1 0.5 0.3 0.0 0.0 0.2 0.3 0.8 0.2 –0.2 0.9 0.3 0.5 0.6 0.4 5 6 7 8 9 10 11 12 13 0.5 1.5 1.8 1.3 0.1 0.3 –0.2 0.4 –0.5 0.6 0.9 1.8 1.3 2.1 0.4 0.3 0.0 –1.2 0.6 0.5 0.3 0.6 1.0 0.4 0.2 0.3 0.2 0.3 0.1 0.4 0.1 –0.6 0.5 –1.1 0.4 0.1 0.1 0.0 0.1 0.1 14 15 16 17 18 0.3 0.2 0.3 0.4 0.4 0.4 0.2 0.3 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. –0.4 –0.2 0.7 0.5 0.4 0.2 0.4 19 0.4 20 p Preliminary r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2015. Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2013 2014 2014 II III 2015 IV I II r 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...................................... 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................................................................................. 1.1 2.7 2.7 2.7 4.4 4.6 5.1 2.7 5.1 3.3 3.6 2.1 4.5 5.0 5.5 3.0 5.0 5.9 6.5 3.7 3.4 2.7 2.6 3.0 5.3 5.5 5.8 4.0 5.1 5.1 5.4 4.0 1 2 3 4 3.5 7.2 –3.0 –1.4 –5.5 2.5 16.3 10.7 –0.1 4.8 8.4 2.8 2.4 3.4 4.2 4.7 6.4 4.2 13.4 10.2 3.7 –3.1 15.9 6.1 2.4 4.2 5.2 3.5 8.8 –1.3 –6.5 7.6 7.1 4.1 9.0 3.9 6.1 6.6 3.0 0.5 6.9 2.3 5.0 10.9 4.2 –2.4 5.5 2.8 –2.2 11.0 8.8 3.0 14.0 1.9 2.2 11.2 6.3 10.0 0.9 3.9 4.5 8.4 4.9 7.6 6.0 4.4 6.2 1.7 3.8 4.2 4.2 5.3 5 6 7 8 9 10 11 12 13 3.1 2.6 3.9 2.0 3.3 4.2 2.9 3.4 2.7 4.8 6.1 8.2 12.1 6.3 5.0 4.7 3.7 5.1 3.0 5.2 3.8 –0.7 2.6 –2.3 6.1 –0.2 –7.7 –0.5 –11.0 3.6 5.9 8.1 7.8 8.3 4.8 4.3 4.6 4.0 4.9 4.2 14 15 16 17 18 2.8 2.7 6.0 4.7 4.3 3.9 3.3 2.6 4.1 19 3.9 20 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. –0.6 –1.4 3.0 2.7 2.6 3.0 r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the second quarter of 2015. Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2015 Line March April May July r June Aug. r Sept. r Oct. p 11,270.5 3,908.2 1,483.5 2,452.2 7,365.6 11,286.1 3,906.4 1,487.2 2,447.4 7,382.3 11,292.8 3,912.4 1,489.7 2,451.0 7,383.4 Line Billions of chained (2009) dollars, seasonally adjusted at annual rates 1 Personal consumption expenditures (PCE)...................... 2 Goods.......................................................................................... 3 Durable goods........................................................................... 4 Nondurable goods..................................................................... 5 Services ...................................................................................... 11,104.4 3,829.7 1,445.7 2,409.6 7,276.1 11,135.1 3,827.8 1,449.3 2,404.9 7,307.7 11,196.5 3,872.2 1,470.1 2,429.4 7,326.6 11,205.1 3,864.9 1,455.3 2,434.7 7,341.7 11,231.7 3,887.3 1,473.6 2,440.8 7,346.9 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars, seasonally adjusted at annual rates 6 Personal consumption expenditures (PCE)...................... 7 Goods.......................................................................................... 8 Durable goods........................................................................... 9 Nondurable goods..................................................................... 10 Services ...................................................................................... 32.8 46.6 27.2 21.2 –10.8 30.8 –1.8 3.6 –4.7 31.5 61.4 44.4 20.8 24.6 18.9 8.6 –7.4 –14.8 5.3 15.1 26.5 22.5 18.3 6.0 5.2 38.9 20.9 9.9 11.5 18.6 15.6 –1.8 3.7 –4.8 16.8 6.7 6 6.0 7 2.5 8 3.6 9 1.1 10 0.1 0.0 0.2 –0.2 0.2 0.1 0.2 0.2 0.1 0.0 Percent change from preceding period in chained (2009) dollars, seasonally adjusted at monthly rates 11 Personal consumption expenditures (PCE)...................... 12 Goods.......................................................................................... 13 Durable goods........................................................................... 14 Nondurable goods..................................................................... 15 Services ...................................................................................... 0.3 1.2 1.9 0.9 –0.1 0.3 0.0 0.2 –0.2 0.4 0.6 1.2 1.4 1.0 0.3 0.1 –0.2 –1.0 0.2 0.2 0.2 0.6 1.3 0.2 0.1 0.3 0.5 0.7 0.5 0.3 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 2013 2014 2014 II 2015 III IV I II Line III r Billions of chained (2009) dollars 1 Personal consumption expenditures (PCE)...................... 2 Goods.......................................................................................... 3 Durable goods........................................................................... 4 Nondurable goods..................................................................... 5 Services ...................................................................................... 10,590.4 3,612.8 1,307.6 2,319.8 6,977.0 10,875.7 3,731.2 1,384.1 2,367.8 7,144.6 10,826.3 3,718.0 1,377.2 2,361.0 7,108.5 10,918.6 3,755.2 1,402.5 2,375.2 7,163.8 11,033.3 3,793.2 1,423.5 2,393.7 7,240.4 11,081.2 3,803.7 1,430.4 2,397.8 7,277.4 11,178.9 3,855.0 1,458.3 2,423.0 7,325.3 114.7 38.0 21.0 18.5 76.5 48.0 10.5 7.0 4.1 37.0 97.7 51.3 27.8 25.2 47.9 4.3 4.1 6.1 3.1 4.3 1.8 1.1 2.0 0.7 2.1 3.6 5.5 8.0 4.3 2.7 11,262.8 3,900.6 1,481.4 2,446.8 7,364.9 1 2 3 4 5 Change from preceding period in billions of chained (2009) dollars 6 Personal consumption expenditures (PCE)...................... 7 Goods.......................................................................................... 8 Durable goods........................................................................... 9 Nondurable goods..................................................................... 10 Services ...................................................................................... 177.2 108.5 71.4 42.3 68.9 285.3 118.4 76.5 48.0 167.6 101.6 59.7 44.0 19.7 42.9 92.3 37.2 25.2 14.2 55.3 83.8 6 45.7 7 23.2 8 23.8 9 39.6 10 Percent change from preceding period in chained (2009) dollars 11 Personal consumption expenditures (PCE)...................... 12 Goods.......................................................................................... 13 Durable goods........................................................................... 14 Nondurable goods..................................................................... 15 Services ...................................................................................... r Revised 1.7 3.1 5.8 1.9 1.0 2.7 3.3 5.9 2.1 2.4 3.8 6.7 13.9 3.4 2.4 3.5 4.1 7.5 2.4 3.1 3.0 4.8 6.5 4.0 2.2 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2015 Line March April May June July r Aug. r Sept. r Oct. 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 ....................... 109.015 102.845 90.968 108.873 112.240 109.085 102.689 91.106 108.541 112.429 109.418 103.339 90.955 109.667 112.595 109.670 103.545 90.755 110.116 112.872 109.770 103.562 90.526 110.280 113.016 109.748 103.175 90.221 109.850 113.186 109.680 102.652 90.457 108.873 113.359 109.749 102.578 90.270 108.867 113.504 1 2 3 4 5 108.952 110.684 105.107 107.844 107.576 109.123 110.493 103.580 107.946 107.799 109.254 110.451 108.423 108.281 107.904 109.416 110.769 110.321 108.494 108.007 109.506 111.006 110.403 108.595 108.097 109.596 111.176 107.878 108.549 108.176 109.779 111.371 102.542 108.475 108.385 109.830 6 111.581 7 102.741 8 108.564 9 108.457 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 0.4 0.2 0.1 –0.2 0.2 –0.3 0.2 0.3 0.6 –0.2 1.0 0.1 0.2 0.2 –0.2 0.4 0.2 0.1 0.0 –0.3 0.1 0.1 0.0 –0.4 –0.3 –0.4 0.2 –0.1 –0.5 0.3 –0.9 0.2 0.1 –0.1 –0.2 0.0 0.1 11 12 13 14 15 0.2 –0.3 1.5 0.2 0.2 0.2 –0.2 –1.5 0.1 0.2 0.1 0.0 4.7 0.3 0.1 0.1 0.3 1.8 0.2 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.2 –2.3 0.0 0.1 0.2 0.2 –4.9 –0.1 0.2 0.0 0.2 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 2015 Line March 1 Disposable personal income .................................................... 2 Personal consumption expenditures ....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services.................................................................................... 3.0 3.0 3.4 5.6 2.4 2.8 April r 3.5 3.1 3.1 6.0 1.8 3.0 May r 3.5 3.5 4.4 6.9 3.2 3.1 June r July r 3.4 3.2 3.5 4.8 2.9 3.0 3.7 3.3 4.0 6.0 3.1 3.0 Aug. r 3.7 3.0 3.6 4.9 2.9 2.8 Sept. r 3.9 3.1 4.0 6.0 3.1 2.6 Oct. p 3.9 2.7 3.7 5.6 2.8 2.2 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 2015. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 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 ....................... 2015 March April May June July r Aug. r Sept. r 0.3 –2.8 –2.3 –3.1 1.8 0.2 –3.2 –2.2 –3.8 1.9 0.3 –2.8 –2.0 –3.1 1.8 0.3 –2.7 –2.1 –3.0 1.9 0.3 –2.7 –2.1 –2.9 1.8 0.3 –2.7 –2.3 –3.0 1.8 0.2 –3.2 –1.9 –3.9 1.9 1.3 1.7 –18.9 –0.1 1.1 1.3 1.3 –20.1 –0.1 1.1 1.3 0.7 –16.9 0.0 1.1 1.3 1.0 –15.9 0.0 1.1 1.3 0.9 –15.7 0.0 1.0 1.3 0.7 –16.2 0.0 1.1 1.3 0.7 –19.7 –0.1 1.1 Oct. p 0.2 –3.1 –2.0 –3.7 1.9 Line 1 2 3 4 5 1.3 6 0.8 7 –18.4 8 0.0 9 1.2 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.