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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, MONDAY, OCTOBER 29, 2012 BEA 12-49 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: SEPTEMBER 2012 Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $43.0 billion, or 0.4 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $87.9 billion, or 0.8 percent. In August, personal income increased $17.8 billion, or 0.1 percent, DPI increased $15.1 billion, or 0.1 percent, and PCE increased $59.9 billion, or 0.5 percent, based on revised estimates. Real disposable income decreased less than 0.1 percent in September, compared with a decrease of 0.3 percent in August. Real PCE increased 0.4 percent, compared with an increase of 0.1 percent. 2012 May June July Aug. (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 Sept. 0.3 0.3 0.2 0.1 0.4 0.3 0.5 0.3 0.2 0.2 0.1 0.1 -0.3 0.4 0.0 -0.2 0.0 0.0 -0.1 0.4 0.3 0.5 0.1 0.8 0.4 ________________________ NOTE. Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. “Real” estimates are in chained (2005) dollars. This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm. -more- -2- Wages and salaries Private wage and salary disbursements increased $19.5 billion in September, compared with an increase of $4.1 billion in August. Goods-producing industries' payrolls increased $2.9 billion, in contrast to a decrease of $7.2 billion; manufacturing payrolls increased $0.5 billion, in contrast to a decrease of $6.3 billion. Services-producing industries' payrolls increased $16.6 billion, compared with an increase of $11.3 billion. Government wage and salary disbursements increased $1.4 billion, compared with an increase of $2.8 billion. Other personal income Supplements to wages and salaries increased $4.7 billion in September, compared with an increase of $3.3 billion in August. Proprietors' income increased $13.2 billion in September, compared with an increase of $8.6 billion in August. Farm proprietors' income increased $3.9 billion in September, the same increase as in August. Nonfarm proprietors' income increased $9.4 billion in September, compared with an increase of $4.8 billion in August. Rental income of persons increased $5.1 billion in September, compared with an increase of $5.0 billion in August. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $5.7 billion, compared with a decrease of $3.9 billion. Personal current transfer receipts increased $12.7 billion in September, in contrast to a decrease of $1.6 billion in August. Within current transfer receipts, government social benefits to persons for social security benefits increased $14.0 billion, in contrast to a decrease of $2.4 billion. Contributions for government social insurance -- a subtraction in calculating personal income -increased $2.8 billion in September, compared with an increase of $0.7 billion in August. Personal current taxes and disposable personal income Personal current taxes increased $5.2 billion in September, compared with an increase of $2.5 billion in August. Disposable personal income (DPI) -- personal income less personal current taxes -increased $43.0 billion, or 0.4 percent, in September, compared with an increase of $15.1 billion, or 0.1 percent, in August. -more- -3- Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -increased $93.1 billion in September, compared with an increase of $65.0 billion in August. PCE increased $87.9 billion, compared with an increase of $59.9 billion. Personal saving -- DPI less personal outlays -- was $395.0 billion in September, compared with $445.1 billion in August. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.3 percent in September, compared with 3.7 percent in August. 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 less than 0.1 percent in September, compared with a decrease of 0.3 percent in August. Real PCE -- PCE adjusted to remove price changes -- increased 0.4 percent in September, compared with an increase of 0.1 percent in August. Purchases of durable goods increased 1.3 percent, compared with an increase of 1.5 percent. Purchases of nondurable goods increased 0.5 percent, compared with an increase of 0.4 percent. Purchases of services increased 0.2 percent, in contrast to a decrease of 0.2 percent. The price index for PCE increased 0.4 percent in September, the same increase as in August. The PCE price index, excluding food and energy, increased 0.1 percent in September, the same increase as in August. -more- -4- Revisions Estimates have been revised for July and August. Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for July and August -revised and as published in last month's release -- are shown below. Change from preceding month July Previous Revised (Billions of dollars) August Previous Revised (Percent) Previous Revised (Billions of dollars) Previous Revised (Percent) Personal Income: Current dollars 18.5 21.9 0.1 0.2 15.0 17.8 0.1 0.1 Disposable personal income: Current dollars Chained (2005) dollars 15.4 9.7 19.0 10.4 0.1 0.1 0.2 0.1 12.5 -33.9 15.1 -28.6 0.1 -0.3 0.1 -0.3 Personal consumption expenditures: Current dollars 45.4 Chained (2005) dollars 35.8 43.2 31.8 0.4 0.4 0.4 0.3 57.2 7.7 59.9 12.8 0.5 0.1 0.5 0.1 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 – November 30, 2012 at 8:30 A.M. EST for Personal Income and Outlays for October 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 Feb. March April May June July r Aug. r Sept. p 13,234.7 8,501.7 6,831.5 5,632.1 1,145.6 723.5 4,486.4 1,086.4 3,400.0 1,199.4 1,670.2 1,159.5 510.6 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 13,320.1 8,544.6 6,867.0 5,666.8 1,148.8 726.8 4,518.0 1,091.8 3,426.2 1,200.1 1,677.6 1,164.9 512.7 13,355.3 8,555.5 6,874.9 5,675.3 1,142.9 723.4 4,532.4 1,094.6 3,437.8 1,199.6 1,680.5 1,167.7 512.9 13,396.9 8,585.8 6,901.4 5,701.7 1,149.3 728.4 4,552.4 1,101.1 3,451.3 1,199.7 1,684.3 1,170.4 513.9 13,418.8 8,600.9 6,912.8 5,712.1 1,154.3 732.0 4,557.8 1,101.2 3,456.6 1,200.7 1,688.1 1,173.2 515.0 13,436.6 8,611.1 6,919.8 5,716.2 1,147.1 725.7 4,569.1 1,102.6 3,466.6 1,203.5 1,691.4 1,176.3 515.1 13,484.7 8,636.7 6,940.6 5,735.7 1,150.0 726.2 4,585.7 1,106.7 3,479.1 1,204.9 1,696.1 1,179.4 516.7 1 2 3 4 5 6 7 8 9 10 11 12 13 1,188.6 52.3 1,136.3 445.3 1,695.8 991.8 704.0 2,346.5 2,301.2 752.1 555.7 397.7 94.1 68.5 433.1 45.3 943.2 1,452.0 11,782.7 11,367.2 11,025.8 3,765.7 1,208.8 2,556.9 7,260.1 175.4 166.1 90.5 75.5 415.4 3.5 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 45.8 947.0 1,464.8 11,855.2 11,423.6 11,080.3 3,769.3 1,202.0 2,567.3 7,311.0 175.8 167.5 91.1 76.4 431.6 3.6 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 45.7 947.7 1,470.4 11,884.9 11,400.7 11,061.7 3,734.1 1,199.1 2,535.0 7,327.6 171.2 167.7 91.3 76.4 484.2 4.1 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 45.8 950.2 1,477.8 11,919.1 11,394.1 11,059.5 3,721.0 1,199.7 2,521.3 7,338.4 166.7 168.0 91.6 76.4 525.0 4.4 1,202.8 56.9 1,145.8 458.7 1,728.6 999.7 729.0 2,379.6 2,333.6 762.1 564.1 418.3 78.0 73.8 437.3 46.0 951.7 1,480.8 11,938.1 11,443.1 11,102.7 3,741.7 1,203.0 2,538.7 7,361.0 171.6 168.7 91.8 76.9 495.0 4.1 1,211.4 60.8 1,150.6 463.7 1,724.7 987.6 737.1 2,378.0 2,331.8 759.7 566.4 419.4 74.4 74.7 437.1 46.1 952.4 1,483.3 11,953.2 11,508.1 11,162.6 3,800.1 1,218.5 2,581.6 7,362.4 176.6 169.0 92.1 76.9 445.1 3.7 1,224.6 64.7 1,160.0 468.8 1,719.0 975.5 743.5 2,390.7 2,344.4 773.7 568.0 418.8 72.6 73.6 437.8 46.3 955.2 1,488.5 11,996.2 11,601.2 11,250.5 3,856.7 1,231.9 2,624.7 7,393.8 181.5 169.2 92.3 76.9 395.0 3.3 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 9,440.8 9,465.6 9,478.8 9,525.2 9,548.9 9,553.9 9,532.0 9,526.1 45 10,216.4 10,240.4 10,254.1 10,300.4 10,321.3 10,331.7 10,303.1 10,300.8 46 37,591 32,594 313,440 37,747 32,653 313,610 37,781 32,678 313,788 37,854 32,807 313,972 37,939 32,853 314,168 37,974 32,864 314,376 37,996 32,751 314,590 38,107 47 32,721 48 314,803 49 p Preliminary r Revised 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 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 Line III 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 13,357.4 8,561.9 6,881.1 5,681.3 1,147.0 726.2 4,534.3 1,095.8 3,438.4 1,199.8 1,680.8 1,167.7 513.2 13,446.7 8,616.2 6,924.4 5,721.4 1,150.5 728.0 4,570.9 1,103.5 3,467.4 1,203.0 1,691.9 1,176.3 515.6 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 45.8 948.3 1,471.0 11,886.4 11,406.1 11,067.2 3,741.5 1,200.3 2,541.2 7,325.7 171.2 167.7 91.3 76.4 480.3 4.0 1,212.9 60.8 1,152.1 463.7 1,724.1 987.6 736.5 2,382.7 2,336.6 765.2 566.2 418.8 75.0 74.0 437.4 46.1 953.1 1,484.2 11,962.5 11,517.5 11,171.9 3,799.5 1,217.8 2,581.7 7,372.4 176.6 169.0 92.0 76.9 445.0 3.7 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 9,035.8 9,340.0 9,345.2 9,328.6 9,335.4 9,435.7 9,517.6 9,537.2 45 10,016.5 10,149.7 10,157.8 10,125.6 10,121.5 10,213.9 10,291.9 10,311.8 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 37,858 32,779 313,976 38,026 47 32,778 48 314,590 49 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2012 Feb. 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 ........ March April May Line June July r Aug. r Sept. p 86.3 61.0 54.8 53.1 12.1 7.1 40.8 11.6 29.2 1.8 6.2 2.6 3.5 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 21.8 0.0 –2.4 –2.4 –4.2 –2.4 1.8 3.1 –1.3 –0.1 2.4 2.6 –0.2 35.2 10.9 7.9 8.5 –5.9 –3.4 14.4 2.8 11.6 –0.5 2.9 2.8 0.2 41.6 30.3 26.5 26.4 6.4 5.0 20.0 6.5 13.5 0.1 3.8 2.7 1.0 21.9 15.1 11.4 10.4 5.0 3.6 5.4 0.1 5.3 1.0 3.8 2.8 1.1 17.8 10.2 7.0 4.1 –7.2 –6.3 11.3 1.4 10.0 2.8 3.3 3.1 0.1 48.1 25.6 20.8 19.5 2.9 0.5 16.6 4.1 12.5 1.4 4.7 3.1 1.6 1 2 3 4 5 6 7 8 9 10 11 12 13 14.5 –0.8 15.3 6.1 5.7 3.0 2.7 5.2 5.2 2.9 1.6 2.9 –3.4 1.2 0.1 0.1 6.2 12.4 73.9 89.2 84.0 43.9 10.9 33.0 40.1 5.0 0.3 0.2 0.0 –15.4 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 –0.4 4.2 17.5 22.8 26.2 –10.9 –5.1 –5.8 37.1 –4.6 1.2 0.3 0.9 –5.2 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 0.7 5.6 29.7 –22.9 –18.6 –35.2 –2.9 –32.3 16.6 –4.6 0.2 0.2 0.0 52.6 –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 2.5 7.4 34.2 –6.6 –2.2 –13.1 0.6 –13.7 10.8 –4.5 0.3 0.3 0.0 40.8 6.8 3.8 2.9 4.6 –12.8 –12.1 –0.7 9.9 9.7 –2.5 6.9 0.5 –0.4 2.2 3.0 0.2 1.5 3.0 19.0 49.0 43.2 20.7 3.3 17.4 22.6 4.9 0.7 0.2 0.5 –30.0 8.6 3.9 4.8 5.0 –3.9 –12.1 8.1 –1.6 –1.8 –2.4 2.3 1.1 –3.6 0.9 –0.2 0.1 0.7 2.5 15.1 65.0 59.9 58.4 15.5 42.9 1.4 5.0 0.3 0.3 0.0 –49.9 13.2 3.9 9.4 5.1 –5.7 –12.1 6.4 12.7 12.6 14.0 1.6 –0.6 –1.8 –1.1 0.7 0.2 2.8 5.2 43.0 93.1 87.9 56.6 13.4 43.1 31.4 4.9 0.2 0.2 0.0 –50.1 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 40.1 31.4 24.8 24.0 13.2 13.7 46.4 46.3 23.7 20.9 5.0 10.4 –21.9 –28.6 p Preliminary r Revised 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. –5.9 44 –2.3 45 Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 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 Line III 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 14.0 130.3 66.2 55.2 54.5 3.0 3.1 51.6 12.5 39.0 0.7 11.0 8.1 3.0 89.3 54.3 43.3 40.1 3.5 1.8 36.6 7.7 29.0 3.2 11.1 8.6 2.4 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 5.7 20.2 110.0 57.4 60.0 –14.4 –4.3 –10.1 74.4 –4.2 1.6 0.8 0.9 52.6 18.0 8.3 9.7 10.9 –6.7 –18.5 11.9 17.5 17.1 5.8 9.3 4.9 –8.8 2.5 3.5 0.3 4.8 13.2 76.1 111.4 104.7 58.0 17.5 40.5 46.7 5.4 1.3 0.7 0.5 –35.3 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 81.9 78.0 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. 19.6 44 19.9 45 Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) Seasonally adjusted at monthly rates Line 2012 Feb. March April May Line June July r Aug. r Sept. p 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 .................................................................................. 0.7 0.7 0.8 0.4 0.5 0.5 0.6 0.3 0.2 0.0 0.0 0.1 0.3 0.1 0.1 0.2 0.3 0.4 0.4 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.4 0.3 0.3 0.3 1 2 3 4 1.2 1.4 0.3 0.3 0.4 0.2 0.7 0.9 0.6 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 0.0 0.3 0.1 0.4 0.2 0.9 0.6 1.5 0.1 0.1 0.4 0.3 0.0 0.3 0.5 0.6 0.3 0.2 0.3 0.5 0.3 0.6 1.0 –0.7 –1.2 –0.1 0.4 0.2 0.2 0.2 0.7 1.1 –0.2 –1.2 1.1 –0.1 0.1 0.2 0.1 1.1 1.1 –0.3 –1.2 0.9 0.5 0.3 0.3 0.4 5 6 7 8 9 10 11 12 13 0.8 1.2 0.9 1.3 0.6 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 0.4 0.6 0.3 0.7 0.3 0.5 1.6 1.3 1.7 0.0 0.8 1.5 1.1 1.7 0.4 14 15 16 17 18 0.5 0.5 0.2 0.2 0.1 0.1 –0.2 –0.3 Based on chained (2005) dollar measures 19 20 Real personal income excluding current transfer receipts .......... Real disposable personal income............................................... 0.4 0.3 0.3 0.2 0.1 0.1 –0.1 19 0.0 20 p Preliminary r Revised Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2010 2011 2011 II 2012 III IV I Line II III 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 4.0 3.2 3.3 2.7 2.7 2.6 2.5 2.7 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 2.5 5.7 3.8 6.2 10.0 –1.5 –7.2 6.7 3.0 2.0 3.6 2.6 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 3.8 6.3 6.0 6.5 2.6 14 15 16 17 18 –0.7 –1.3 0.3 –0.2 4.4 3.7 3.5 3.1 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 0.8 19 0.8 20 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2012 Line Feb. March April May June July r Aug. r 9,577.0 3,402.6 1,335.8 2,085.4 6,179.0 9,608.8 3,420.8 1,343.8 2,096.0 6,193.1 Sept. 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...................................................................................... 9,560.1 3,412.4 1,340.2 2,091.0 6,153.5 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 9,621.6 3,445.4 1,363.4 2,103.8 6,182.8 9,660.5 3,471.4 1,381.4 2,114.1 6,196.7 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...................................................................................... 42.2 20.0 12.4 8.8 22.6 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 31.8 18.2 8.0 10.6 14.1 12.8 24.6 19.6 7.8 –10.3 0.3 0.5 0.6 0.5 0.2 0.1 0.7 1.5 0.4 –0.2 38.9 6 26.0 7 18.0 8 10.3 9 13.9 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...................................................................................... 0.4 0.6 0.9 0.4 0.4 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 0.4 0.8 1.3 0.5 0.2 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 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 9,630.3 3,445.9 1,362.9 2,104.6 6,190.9 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 47.8 6 36.5 7 27.6 8 12.6 9 12.7 10 Percent change from preceding period in chained (2005) dollars 11 Personal consumption expenditures ......................................... 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... 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 2.0 4.4 8.5 2.4 0.8 11 12 13 14 15 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2012 Line Feb. March April May June July r Aug. r Sept. 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 ........................ 115.335 110.358 90.187 122.283 117.986 115.602 110.696 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 89.809 120.900 118.766 115.551 109.386 89.523 121.121 118.859 116.020 110.301 89.366 122.718 119.081 116.463 111.107 89.178 124.159 119.322 1 2 3 4 5 113.104 120.437 146.004 115.282 112.686 113.313 120.597 147.531 115.530 112.863 113.460 120.716 144.835 115.526 113.007 113.574 120.576 138.079 115.301 113.183 113.774 120.869 135.958 115.396 113.398 113.872 120.862 135.657 115.453 113.487 113.963 120.956 143.527 115.940 113.541 114.093 6 120.885 7 150.399 8 116.386 9 113.626 10 Percent change from preceding period in price indexes, seasonally adjusted at monthly rates 11 Personal consumption expenditures (PCE) .............................. 12 Goods ......................................................................................... 13 Durable goods ......................................................................... 14 Nondurable goods ................................................................... 15 Services...................................................................................... Addenda: 16 PCE excluding food and energy ................................................. 17 Food 1 ......................................................................................... 18 Energy goods and services 2...................................................... 19 Market-based PCE 3 ................................................................... 20 Market-based PCE excluding food and energy 3 ........................ 0.3 0.6 0.0 0.9 0.2 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 0.2 0.4 0.7 –0.2 1.2 0.2 11 12 13 14 15 0.1 0.0 3.6 0.3 0.1 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 0.0 0.1 0.1 0.1 5.8 0.4 0.0 0.1 –0.1 4.8 0.4 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 Feb. 1 Disposable personal income ...................................................... 2 Personal consumption expenditures ......................................... 3 Goods ......................................................................................... 4 Durable goods ......................................................................... 5 Nondurable goods ................................................................... 6 Services...................................................................................... March 0.1 1.9 2.7 7.4 0.6 1.5 April 0.7 1.6 2.6 6.6 0.7 1.1 May 0.8 1.8 2.4 6.5 0.5 1.5 July r June 1.5 1.9 3.0 7.4 1.0 1.4 1.6 2.0 3.5 8.6 1.2 1.3 Aug. r 1.8 1.9 3.1 7.3 1.2 1.2 1.8 2.0 4.1 9.3 1.8 1.0 Sept. p 1.9 2.1 3.8 8.2 1.8 1.2 Line 1 2 3 4 5 6 p Preliminary r Revised Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago 2012 Line 1 Personal consumption expenditures (PCE) .............................. 2 Goods ......................................................................................... 3 Durable goods ......................................................................... 4 Nondurable goods ................................................................... 5 Services...................................................................................... Addenda: 6 PCE excluding food and energy ................................................. 7 Food 1 ......................................................................................... 8 Energy goods and services 2...................................................... 9 Market-based PCE 3 ................................................................... 10 Market-based PCE excluding food and energy 3 ........................ Feb. March April May June July r Aug. r 2.4 2.9 –0.7 4.7 2.2 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 1.5 0.6 –1.8 1.7 2.0 1.9 3.9 8.0 2.6 2.0 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 1.6 1.5 0.0 1.5 1.6 Sept. p 1.7 1.1 –1.6 2.4 2.0 Line 1 2 3 4 5 1.7 6 0.9 7 3.2 8 1.7 9 1.6 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.