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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, MONDAY, OCTOBER 30, 2017 Technical: Media: James Rankin (Personal Income) Harvey Davis (PCE) Jeannine Aversa (301) 278-9087 (301) 278-9086 (301) 278-9003 BEA 17-57 piniwd@bea.gov pce@bea.gov Jeannine.Aversa@bea.gov Personal Income and Outlays: September 2017 Personal income increased $66.9 billion (0.4 percent) in September according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $53.0 billion (0.4 percent) and personal consumption expenditures (PCE) increased $136.0 billion (1.0 percent). Real DPI decreased less than 0.1 percent in September and Real PCE increased 0.6 percent. The PCE price index increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.1 percent. 2017 May June July Aug. Sept. Percent change from preceding month Personal income: Current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures (PCE): Current dollars Chained (2009) dollars Price indexes: PCE PCE, excluding food and energy Price indexes: PCE PCE, excluding food and energy 0.3 0.0 0.3 0.2 0.4 0.4 0.5 0.0 0.0 0.2 0.1 0.1 -0.1 0.4 0.0 0.2 0.3 0.1 0.1 0.4 0.3 0.1 -0.1 1.0 0.6 -0.1 0.1 0.0 0.1 0.1 0.1 0.2 0.1 0.4 0.1 Percent change from month one year ago 1.5 1.4 1.4 1.4 1.6 1.5 1.5 1.4 1.3 1.3 The increase in personal income in September primarily reflected increases in wages and salaries and nonfarm proprietors’ income (table 3). The $76.0 billion increase in real PCE in September reflected an increase of $59.1 billion in spending for goods and a $21.6 billion increase in spending for services (table 7). Within goods, new motor vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for household utilities. Detailed information on monthly real PCE spending can be found on Table 2.3.6U. Personal outlays increased $132.5 billion in September (table 3). Personal saving was $441.9 billion in September and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.1 percent (table 1). Updates Estimates have been updated for July and August. The change from the preceding month for currentdollar personal income and for current-dollar and chained (2009) dollar DPI and PCE -- revised and previously published -- are shown below for July and August. Previous Revised (Billions of dollars) Personal income: Current dollars Disposable personal income: Current dollars Chained (2009) dollars Personal consumption expenditures: Current dollars Chained (2009) dollars July Change from preceding month Previous Revised (Percent) August Previous Revised Previous Revised (Billions of dollars) (Percent) 56.1 52.2 0.3 0.3 28.6 29.2 0.2 0.2 28.8 13.2 24.0 8.2 0.2 0.1 0.2 0.1 14.9 -13.0 14.6 -13.2 0.1 -0.1 0.1 -0.1 43.6 27.2 48.6 31.0 0.3 0.2 0.4 0.3 18.0 -8.4 17.6 -8.7 0.1 -0.1 0.1 -0.1 Hurricanes Harvey and Irma The August and September estimates of personal income and outlays reflect the effects of Hurricanes Harvey and Irma. BEA cannot separately quantify the total impact of the storms on personal income and outlays because most of the source data used to estimate the components of personal income and outlays do not separately identify storm impacts. BEA made adjustments to estimates where source data were not yet available or did not fully reflect the effects of the storms. For more information on the treatment of disasters within the national income and product accounts, see “How are the measures of production and income in the national accounts affected by a natural or man-made disaster?” Next release: November 30, 2017 at 8:30 A.M. EST Personal Income and Outlays: October 2017 Personal Income and Outlays Release Dates for 2018 December 2017…. January 2018…. February 2018…. March 2018.… January 29 March 1 March 29 April 30 April 2018…. May 2018…. June 2018…. July 2018…. May 31 June 29 July 31 August 30 August 2018…. September 2018…. October 2018…. November 2018…. September 28 October 29 November 29 December 21 Additional Information Resources Additional Resources available at www.bea.gov/: • • • • • • Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. Historical time series for these estimates can be accessed in BEA’s Interactive Data Application. Access BEA data by registering for BEA’s Data Application Programming Interface (API). For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business. BEA's news release schedule NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts Definitions Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses. Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes. Personal consumption expenditures (PCE) is the value of the goods and services purchased by, or on the behalf of, “persons” who reside in the United States. Personal outlays is the sum of PCE, personal interest payments, and personal current transfer payments. Personal saving is personal income less personal outlays and personal current taxes. The personal saving rate is personal saving as a percentage of disposable personal income. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at “market value.” Also referred to as “nominal estimates” or as “current-price estimates.” Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. For more definitions, see the Glossary: National Income and Product Accounts. Statistical conventions Annual rates. Monthly and quarterly values are expressed at seasonally-adjusted annual rates (SAAR). Dollar changes are calculated as the difference between these SAAR values. For detail, see the FAQ “Why does BEA publish estimates at annual rates?” Month-to-month percent changes are calculated from unrounded data and are not annualized. Quarter-to-quarter percent changes are calculated from unrounded data and are displayed at annual rates. For detail, see the FAQ “How is average annual growth calculated?” Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2009). Quantity and price indexes are calculated using a Fisherchained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). “Real” dollar series are calculated by multiplying the published quantity index by the current dollar value in the reference year (2009) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. List of Personal Income and Outlays News Release Tables Table 1. Table 2. Table 3. Table 4. Table 5. Table 6. Table 7. Table 8. Table 9. Table 10. Table 11. Personal Income and Its Disposition (Months) Personal Income and Its Disposition (Years and Quarters) Personal Income and Its Disposition, Change From Preceding Period (Months) Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters) Personal Income and Its Disposition, Percent Change From Preceding Period (Months) Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters) Real Personal Consumption Expenditures by Major Type of Product (Months) Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago October 30, 2017 Table 1. Personal Income and Its Disposition (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2017 Feb. 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....................................................... March April May Line June July r Aug. r Sept. p 16,257.3 16,304.9 16,328.1 16,380.8 16,384.2 16,436.3 16,465.5 16,532.5 1 10,185.7 10,195.7 10,247.9 10,261.8 10,304.6 10,353.3 10,361.5 10,404.9 2 8,250.0 8,256.3 8,302.6 8,312.7 8,349.8 8,392.7 8,397.8 8,435.3 3 6,918.5 6,922.2 6,968.3 6,976.6 7,009.9 7,051.3 7,053.5 7,087.0 4 1,356.4 1,344.1 1,348.3 1,348.3 1,354.7 1,363.2 1,359.1 1,368.8 5 831.8 826.3 829.3 827.0 830.7 836.4 833.2 834.7 6 5,562.1 5,578.0 5,620.0 5,628.3 5,655.2 5,688.0 5,694.4 5,718.1 7 1,291.0 1,294.8 1,304.7 1,305.9 1,312.6 1,318.7 1,317.7 1,322.2 8 4,271.1 4,283.2 4,315.3 4,322.4 4,342.6 4,369.3 4,376.7 4,396.0 9 1,331.5 1,334.2 1,334.3 1,336.1 1,339.9 1,341.4 1,344.2 1,348.4 10 1,935.7 1,939.4 1,945.4 1,949.1 1,954.8 1,960.6 1,963.8 1,969.6 11 1,332.8 602.8 1,336.1 603.3 1,338.8 606.6 1,341.6 607.4 1,344.8 610.0 1,347.4 613.2 1,350.3 613.5 1,353.4 12 616.2 13 1,378.2 1,385.0 1,375.8 1,380.3 1,379.8 1,376.5 1,380.4 1,388.4 14 41.9 45.6 41.3 37.0 32.7 32.5 32.3 32.1 15 1,336.4 1,339.4 1,334.5 1,343.3 1,347.0 1,344.0 1,348.1 1,356.3 16 730.6 736.1 737.1 739.7 744.1 743.3 745.2 749.3 17 2,419.7 2,436.5 2,426.9 2,459.8 2,416.7 2,426.8 2,434.1 2,446.6 18 1,476.6 1,491.5 1,478.3 1,465.1 1,451.9 1,456.5 1,461.1 1,465.7 19 943.1 944.9 948.6 994.7 964.9 970.4 973.0 981.0 20 2,829.5 2,839.3 2,834.8 2,835.5 2,840.5 2,844.5 2,853.5 2,858.0 21 2,771.0 2,780.7 2,775.8 2,776.3 2,781.1 2,784.8 2,793.6 2,797.9 22 913.7 920.8 921.6 921.6 925.2 928.4 929.2 932.5 23 667.4 668.8 670.1 671.5 673.0 674.6 676.4 678.3 24 581.2 582.0 578.2 576.7 577.3 578.2 578.8 579.3 25 30.3 29.9 28.9 28.3 28.6 28.8 28.5 28.2 26 95.3 95.9 96.7 98.1 99.3 98.4 98.6 100.7 27 483.2 483.3 480.4 480.2 477.7 476.4 482.1 479.0 28 58.4 58.7 58.9 59.2 59.4 59.6 59.9 60.1 29 1,286.5 1,287.7 1,294.4 1,296.3 1,301.6 1,308.0 1,309.2 1,314.8 30 2,023.3 2,028.3 2,018.9 2,009.2 2,010.5 2,038.6 2,053.2 2,067.2 31 14,234.0 14,276.6 14,309.2 14,371.6 14,373.7 14,397.7 14,412.3 14,465.3 32 13,655.3 13,720.4 13,773.3 13,809.2 13,835.2 13,876.8 13,890.9 14,023.3 33 13,175.0 13,239.7 13,281.7 13,310.3 13,329.1 13,377.7 13,395.2 13,531.2 34 4,222.9 4,237.8 4,255.2 4,247.5 4,238.9 4,269.0 4,268.3 4,357.7 35 1,442.4 1,449.0 1,455.1 1,456.2 1,458.5 1,475.5 1,453.4 1,499.9 36 2,780.5 2,788.8 2,800.1 2,791.4 2,780.4 2,793.5 2,814.9 2,857.8 37 8,952.1 9,001.9 9,026.5 9,062.8 9,090.2 9,108.7 9,127.0 9,173.5 38 287.4 287.2 293.9 300.7 307.4 303.5 299.5 295.6 39 192.9 193.5 197.7 198.2 198.7 195.7 196.1 196.5 40 112.3 113.0 113.6 114.1 114.6 115.1 115.5 115.9 41 80.6 80.6 84.1 84.1 84.1 80.6 80.6 80.6 42 578.6 556.2 535.9 562.4 538.5 520.9 521.4 441.9 43 4.1 3.9 3.7 3.9 3.7 3.6 3.6 3.1 44 11,954.6 12,017.7 12,015.9 12,069.3 12,062.7 12,093.2 12,086.4 12,096.5 45 12,672.3 12,741.5 12,742.4 12,805.5 12,802.0 12,810.2 12,797.0 12,796.1 46 43,829 39,020 324,763 43,938 39,214 324,925 44,015 39,196 325,096 44,183 39,368 325,278 44,163 39,334 325,469 44,209 39,334 325,674 44,224 39,267 325,892 44,357 47 39,239 48 326,109 49 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 6. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Source: U.S. Bureau of Economic Analysis October 30, 2017 Table 2. Personal Income and Its Disposition (Years and Quarters) [Billions of dollars] Seasonally adjusted at annual rates Line 2015 2016 2016 Q2 1 Personal income ..................................................................................... 15,553.0 2 Compensation of employees.............................................................. 9,708.3 3 Wages and salaries .......................................................................... 7,858.9 4 Private industries............................................................................. 6,583.3 5 Goods-producing industries ......................................................... 1,308.6 6 Manufacturing........................................................................... 806.8 7 Services-producing industries...................................................... 5,274.6 8 Trade, transportation, and utilities ............................................ 1,237.4 9 Other services-producing industries ......................................... 4,037.2 10 Government .................................................................................... 1,275.6 11 Supplements to wages and salaries............................................... 1,849.4 12 Employer contributions for employee pension and insurance funds 1........................................................................................... 1,278.0 13 Employer contributions for government social insurance................ 571.4 14 Proprietors’ income with inventory valuation and capital consumption adjustments............................................................... 1,318.8 15 Farm ................................................................................................... 53.7 16 Nonfarm.............................................................................................. 1,265.1 17 Rental income of persons with capital consumption adjustment 662.5 18 Personal income receipts on assets.................................................. 2,387.1 19 Personal interest income.................................................................... 1,367.3 20 Personal dividend income .................................................................. 1,019.8 21 Personal current transfer receipts ..................................................... 2,684.4 22 Government social benefits to persons .............................................. 2,631.2 23 Social security 2 ............................................................................... 871.8 24 Medicare 3 ........................................................................................ 633.7 25 Medicaid.......................................................................................... 536.0 26 Unemployment insurance ............................................................... 32.2 27 Veterans’ benefits............................................................................ 89.8 28 Other ............................................................................................... 467.8 29 Other current transfer receipts, from business (net)........................... 53.1 30 Less: Contributions for government social insurance, domestic 1,208.0 31 Less: Personal current taxes................................................................. 1,937.9 32 Equals: Disposable personal income ................................................... 13,615.0 33 Less: Personal outlays........................................................................... 12,786.7 34 Personal consumption expenditures...................................................... 12,332.3 35 Goods................................................................................................. 4,033.2 36 Durable goods................................................................................. 1,367.1 37 Nondurable goods........................................................................... 2,666.0 38 Services.............................................................................................. 8,299.1 39 Personal interest payments 4.................................................................. 268.7 40 Personal current transfer payments....................................................... 185.7 41 To government.................................................................................... 105.4 42 To the rest of the world (net)............................................................... 80.2 43 Equals: Personal saving......................................................................... 828.4 44 Personal saving as a percentage of disposable personal income 6.1 Addenda: 45 Personal income excluding current transfer receipts, billions of chained (2009) dollars 5 .................................................................... 11,754.2 Disposable personal income: 46 Total, billions of chained (2009) dollars 5 ............................................. 12,436.0 Per capita: 47 Current dollars................................................................................. 42,392 48 Chained (2009) dollars.................................................................... 38,720 49 Population (midperiod, thousands) 6 ...................................................... 321,173 Q3 2017 Q4 Q1 Q2 Line Q3 15,928.7 15,910.1 16,028.0 16,025.7 16,245.2 16,364.4 16,478.1 1 9,978.6 9,979.6 10,081.4 10,014.9 10,166.3 10,271.4 10,373.2 2 8,085.2 8,090.2 8,178.1 8,107.8 8,232.1 8,321.7 8,408.6 3 6,777.8 6,785.2 6,863.4 6,792.7 6,901.6 6,984.9 7,063.9 4 1,331.2 1,332.4 1,345.2 1,329.8 1,350.5 1,350.4 1,363.7 5 814.4 817.5 824.8 811.7 824.5 829.0 834.8 6 5,446.5 5,452.8 5,518.3 5,462.9 5,551.1 5,634.5 5,700.2 7 1,265.0 1,269.3 1,277.7 1,262.9 1,288.5 1,307.7 1,319.5 8 4,181.5 4,183.5 4,240.6 4,200.0 4,262.6 4,326.8 4,380.7 9 1,307.5 1,305.0 1,314.6 1,315.2 1,330.5 1,336.8 1,344.7 10 1,893.4 1,889.4 1,903.4 1,907.1 1,934.2 1,949.7 1,964.6 11 1,309.8 583.6 1,305.5 583.9 1,313.3 590.1 1,321.7 585.4 1,332.7 601.6 1,341.7 608.0 1,350.4 12 614.3 13 1,341.9 1,339.5 1,346.1 1,354.6 1,380.2 1,378.6 1,381.8 14 43.2 46.7 41.4 37.8 41.9 37.0 32.3 15 1,298.7 1,292.8 1,304.6 1,316.7 1,338.4 1,341.6 1,349.5 16 707.3 704.8 708.1 718.9 730.8 740.3 745.9 17 2,377.8 2,371.4 2,373.2 2,391.6 2,420.1 2,434.5 2,435.8 18 1,415.3 1,408.4 1,416.9 1,438.5 1,476.6 1,465.1 1,461.1 19 962.5 962.9 956.4 953.0 943.5 969.4 974.8 20 2,768.4 2,760.2 2,777.4 2,795.9 2,831.9 2,836.9 2,852.0 21 2,711.0 2,703.0 2,719.7 2,737.9 2,773.4 2,777.8 2,792.1 22 896.5 894.0 899.7 906.0 916.1 922.8 930.0 23 655.9 653.5 658.2 662.9 667.4 671.5 676.4 24 563.0 558.0 566.8 577.8 581.4 577.4 578.8 25 31.7 31.9 31.6 30.7 30.2 28.6 28.5 26 92.8 92.7 92.9 94.0 95.5 98.0 99.2 27 471.1 472.8 470.4 466.5 482.8 479.4 479.2 28 57.4 57.3 57.8 58.0 58.4 59.2 59.9 29 1,245.3 1,245.4 1,258.2 1,250.2 1,284.1 1,297.4 1,310.7 30 1,960.1 1,950.7 1,983.8 1,977.2 2,018.8 2,012.9 2,053.0 31 13,968.6 13,959.4 14,044.3 14,048.5 14,226.4 14,351.5 14,425.1 32 13,288.0 13,214.2 13,366.6 13,537.0 13,671.8 13,805.9 13,930.3 33 12,820.7 12,755.0 12,899.4 13,056.9 13,191.6 13,307.0 13,434.7 34 4,121.4 4,108.5 4,134.4 4,195.9 4,230.8 4,247.2 4,298.3 35 1,411.0 1,401.1 1,420.2 1,440.2 1,443.2 1,456.6 1,476.3 36 2,710.4 2,707.4 2,714.2 2,755.7 2,787.6 2,790.6 2,822.1 37 8,699.3 8,646.5 8,765.0 8,861.0 8,960.7 9,059.8 9,136.4 38 278.4 276.3 279.3 284.4 287.4 300.7 299.5 39 189.0 183.0 187.9 195.6 192.9 198.2 196.1 40 108.9 108.1 109.0 110.6 112.3 114.1 115.5 41 80.1 74.9 78.9 85.0 80.6 84.1 80.6 42 680.6 745.2 677.7 511.5 554.6 545.6 494.8 43 4.9 5.3 4.8 3.6 3.9 3.8 3.4 44 11,878.7 11,894.9 11,934.4 11,857.1 11,955.7 12,049.3 12,092.0 45 12,608.2 12,627.2 12,649.2 12,590.8 12,680.4 12,783.3 12,801.0 46 43,194 38,988 323,391 43,209 39,086 323,064 43,390 39,080 323,675 43,323 38,828 324,275 43,805 39,045 324,765 44,120 39,299 325,281 44,263 47 39,280 48 325,892 49 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. Source: U.S. Bureau of Economic Analysis October 30, 2017 Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months) [Billions of dollars] Seasonally adjusted at annual rates Line 2017 Feb. 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 .......... March April May Line June July r Aug. r Sept. p 83.7 68.1 60.1 54.4 5.4 16.4 49.0 11.3 37.7 5.7 8.0 47.6 10.0 6.3 3.6 –12.3 –5.5 15.9 3.8 12.1 2.7 3.7 23.2 52.2 46.2 46.2 4.1 2.9 42.0 9.9 32.1 0.1 6.0 52.7 13.9 10.2 8.3 0.0 –2.2 8.3 1.2 7.1 1.9 3.7 3.3 42.8 37.1 33.3 6.5 3.7 26.8 6.7 20.2 3.8 5.8 52.2 48.6 42.9 41.4 8.5 5.7 32.9 6.2 26.7 1.5 5.7 29.2 8.3 5.1 2.3 –4.1 –3.2 6.4 –1.0 7.4 2.8 3.2 66.9 1 43.4 2 37.6 3 33.4 4 9.7 5 1.5 6 23.7 7 4.4 8 19.3 9 4.1 10 5.8 11 3.7 4.2 3.3 0.5 2.7 3.3 2.9 0.8 3.2 2.6 2.6 3.1 2.9 0.3 3.1 12 2.7 13 0.8 3.8 –3.0 4.9 15.7 14.9 0.7 2.7 2.5 0.0 1.5 0.3 –0.3 –0.1 1.2 0.2 8.3 18.5 65.3 15.5 15.0 –9.0 4.2 –13.2 24.0 –0.2 0.7 0.7 0.0 49.8 6.8 3.8 3.0 5.5 16.7 14.9 1.8 9.9 9.6 7.1 1.4 0.9 –0.5 0.6 0.1 0.2 1.2 5.0 42.6 65.1 64.6 14.9 6.5 8.3 49.8 –0.2 0.6 0.6 0.0 –22.5 –9.2 –4.3 –4.8 1.0 –9.6 –13.2 3.6 –4.6 –4.8 0.8 1.3 –3.8 –1.0 0.8 –3.0 0.2 6.7 –9.4 32.6 52.9 42.1 17.5 6.1 11.3 24.6 6.7 4.1 0.6 3.5 –20.3 4.5 –4.3 8.8 2.6 33.0 –13.2 46.2 0.7 0.5 0.0 1.4 –1.5 –0.6 1.4 –0.2 0.2 1.9 –9.7 62.4 35.8 28.5 –7.7 1.1 –8.8 36.2 6.7 0.6 0.6 0.0 26.6 –0.6 –4.3 3.7 4.5 –43.1 –13.2 –29.9 5.1 4.8 3.6 1.5 0.6 0.3 1.2 –2.4 0.2 5.4 1.3 2.1 26.0 18.8 –8.6 2.4 –11.0 27.4 6.7 0.5 0.5 0.0 –24.0 –3.2 –0.2 –3.0 –0.8 10.1 4.6 5.5 3.9 3.7 3.2 1.6 0.9 0.2 –0.8 –1.4 0.2 6.4 28.1 24.0 41.6 48.6 30.1 17.0 13.1 18.5 –3.9 –3.1 0.5 –3.5 –17.6 3.9 –0.2 4.1 1.9 7.3 4.6 2.7 9.0 8.8 0.8 1.7 0.6 –0.3 0.2 5.7 0.2 1.1 14.6 14.6 14.0 17.6 –0.7 –22.1 21.4 18.3 –3.9 0.4 0.4 0.0 0.5 59.7 44.9 63.1 69.2 –1.8 0.9 53.4 63.1 –6.5 –3.4 30.5 8.2 –6.8 –13.2 8.0 –0.2 8.2 4.1 12.5 4.6 7.9 4.5 4.3 3.2 1.9 0.5 –0.3 2.1 –3.1 0.3 5.6 14.0 53.0 132.5 136.0 89.4 46.5 42.9 46.6 –3.9 0.4 0.4 0.0 –79.5 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 10.1 44 –0.9 45 p Preliminary r Revised 1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period. 2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 4. Consists of nonmortgage interest paid by households. 5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Source: U.S. Bureau of Economic Analysis October 30, 2017 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 .......... 2015 2016 2016 2017 Line Q2 Q3 Q4 Q1 Q2 Q3 734.7 451.8 382.1 343.4 49.5 26.3 293.9 62.7 231.2 38.7 69.7 375.8 270.4 226.4 194.5 22.6 7.6 171.9 27.7 144.2 31.9 44.0 159.1 141.0 125.3 115.5 14.8 13.8 100.7 19.0 81.6 9.8 15.7 117.9 101.8 87.9 78.2 12.7 7.4 65.5 8.3 57.2 9.6 14.0 –2.3 –66.5 –70.2 –70.8 –15.4 –13.2 –55.4 –14.8 –40.6 0.5 3.8 219.5 151.4 124.3 108.9 20.7 12.9 88.2 25.6 62.6 15.3 27.1 119.1 105.1 89.6 83.3 –0.1 4.5 83.4 19.2 64.2 6.3 15.5 113.7 1 101.8 2 86.9 3 79.0 4 13.3 5 5.8 6 65.7 7 11.8 8 53.9 9 7.9 10 14.9 11 46.3 23.4 31.8 12.2 6.9 8.8 7.7 6.2 8.4 –4.7 10.9 16.2 9.1 6.4 8.6 12 6.2 13 3.0 –14.5 17.5 50.8 141.9 64.0 77.9 140.0 132.5 37.2 32.7 45.0 –3.3 6.1 14.8 7.5 52.8 152.3 582.4 492.8 468.6 62.7 70.8 –8.0 405.9 15.0 9.2 6.8 2.4 89.6 23.1 –10.5 33.6 44.8 –9.3 48.0 –57.4 84.0 79.7 24.7 22.2 27.0 –0.5 3.0 3.3 4.3 37.3 22.2 353.5 501.4 488.4 88.3 43.9 44.4 400.2 9.6 3.3 3.4 –0.1 –147.8 11.9 –0.1 12.0 7.2 –3.6 11.0 –14.6 20.4 19.6 7.8 4.7 8.6 –0.6 1.1 –2.0 0.8 17.9 21.8 137.3 180.0 183.5 61.6 18.5 43.1 121.9 2.9 –6.4 0.4 –6.8 –42.7 6.6 –5.3 11.8 3.3 1.9 8.4 –6.6 17.2 16.7 5.7 4.7 8.8 –0.3 0.2 –2.4 0.5 12.9 33.1 84.9 152.4 144.4 25.9 19.1 6.8 118.5 3.0 5.0 1.0 4.0 –67.5 8.5 –3.6 12.1 10.8 18.4 21.7 –3.3 18.5 18.3 6.3 4.6 11.0 –1.0 1.1 –3.9 0.2 –8.0 –6.6 4.2 170.4 157.5 61.5 20.0 41.4 96.0 5.2 7.7 1.6 6.2 –166.1 25.7 4.0 21.6 11.9 28.5 38.1 –9.6 35.9 35.5 10.1 4.5 3.5 –0.4 1.5 16.3 0.5 33.9 41.6 177.9 134.9 134.7 34.9 3.0 32.0 99.7 3.0 –2.8 1.7 –4.4 43.0 –1.6 –4.8 3.3 9.5 14.4 –11.5 25.9 5.1 4.3 6.8 4.1 –4.0 –1.7 2.5 –3.4 0.7 13.3 –6.0 125.1 134.1 115.5 16.4 13.4 3.0 99.1 13.3 5.3 1.8 3.5 –9.0 510.0 496.7 124.5 172.3 64.6 59.5 39.5 22.0 –77.3 –58.4 98.7 89.6 93.6 102.9 3.1 –4.7 7.8 5.6 1.4 –4.0 5.4 15.1 14.3 7.2 4.9 1.4 –0.1 1.2 –0.3 0.7 13.2 40.1 73.6 124.4 127.7 51.1 19.7 31.4 76.6 –1.1 –2.1 1.4 –3.5 –50.8 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 42.7 44 17.7 45 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. Source: U.S. Bureau of Economic Analysis October 30, 2017 Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months) Seasonally adjusted at monthly rates Line 2017 Feb. March April May Line June July r Aug. r Sept. 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................................................................................. 0.5 0.7 0.7 0.4 0.3 0.1 0.1 0.2 0.1 0.5 0.6 0.3 0.3 0.1 0.1 0.2 0.0 0.4 0.4 0.3 0.3 0.5 0.5 0.3 0.2 0.1 0.1 0.2 0.4 0.4 0.4 0.3 1 2 3 4 0.1 0.7 0.7 1.0 0.1 0.1 0.7 0.9 0.5 0.5 0.8 0.7 1.0 0.2 0.3 0.1 0.2 0.3 –0.7 0.1 –0.4 –0.9 0.4 –0.2 0.5 –0.5 0.2 0.3 0.3 1.4 –0.9 4.9 0.0 0.1 –0.5 0.4 0.0 0.6 –1.8 –0.9 –3.0 0.2 0.4 0.1 0.0 –0.2 –0.1 0.4 0.3 0.6 0.1 0.5 1.4 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.1 0.7 0.1 0.6 5 0.6 6 0.5 7 0.3 8 0.8 9 0.2 10 0.4 11 0.7 12 0.4 13 0.1 –0.2 0.3 –0.5 0.3 0.5 0.4 0.5 0.3 0.6 0.3 0.4 0.4 0.4 0.3 0.2 –0.2 0.1 –0.3 0.4 0.1 –0.2 0.2 –0.4 0.3 0.4 0.7 1.2 0.5 0.2 0.1 0.0 –1.5 0.8 0.2 1.0 2.1 3.2 1.5 0.5 0.4 0.5 –0.1 0.0 0.3 0.1 –0.1 –0.1 0.1 19 0.0 20 14 15 16 17 18 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. 0.5 0.4 0.5 0.5 0.0 0.0 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters) Seasonally adjusted at annual rates Line 2015 2016 2016 Q2 Q3 2017 Q4 Q1 Q2 Line Q3 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................................................................................. 5.0 4.9 5.1 3.9 2.4 2.8 2.9 2.4 4.1 5.9 6.4 3.4 3.0 4.1 4.4 3.0 –0.1 –2.6 –3.4 0.8 5.6 6.2 6.3 5.8 3.0 4.2 4.4 3.2 2.8 4.0 4.2 3.1 1 2 3 4 0.2 8.3 6.3 4.9 8.3 5.5 4.6 8.5 4.5 1.8 6.8 –0.4 3.5 –5.6 3.1 3.1 1.1 2.6 3.6 4.2 –0.6 3.2 –5.8 3.0 5.9 4.6 4.0 2.0 1.9 0.3 2.4 –2.7 2.5 4.2 7.0 2.5 2.5 6.2 3.1 6.3 –1.4 2.7 –2.5 –1.3 0.1 7.8 6.8 4.9 11.0 –3.9 5.2 11.3 8.7 5.2 –0.5 5.3 2.4 –3.1 11.4 0.7 4.2 –1.2 3.6 3.9 1.6 5.5 –0.3 5.1 4.0 2.2 3.2 1.7 4.8 6.0 6.2 5.5 6.6 5.8 4.6 2.5 5.6 1.0 5.6 5.0 6.1 5.8 6.2 4.5 4.2 3.4 0.8 4.7 4.6 3.5 1.6 3.8 0.4 4.5 3.9 4.9 5.5 4.6 3.4 1.3 0.7 –2.6 –1.8 3.4 2.9 3.2 3.3 1.4 19 0.6 20 0.9 5 3.1 6 0.2 7 –1.1 8 2.2 9 2.1 10 4.1 11 8.2 12 2.1 13 14 15 16 17 18 Based on chained (2009) dollar measures 19 20 Real personal income excluding transfer receipts .................... Real disposable personal income............................................. Source: U.S. Bureau of Economic Analysis 4.5 4.2 1.1 1.4 2.2 1.9 October 30, 2017 Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) 2017 Line Feb. March April May June July r Aug. r Sept. p 11,893.9 4,219.6 1,684.0 2,579.8 7,686.5 11,969.8 4,278.7 1,743.0 2,588.2 7,708.0 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 ...................................................................................... 11,729.6 4,131.1 1,643.4 2,530.0 7,606.3 11,816.1 4,170.1 1,660.4 2,552.7 7,655.0 11,827.4 4,187.5 1,671.4 2,560.1 7,650.8 11,859.8 4,205.5 1,677.5 2,572.0 7,666.2 11,871.6 4,206.8 1,684.5 2,567.6 7,676.3 11,902.6 4,231.8 1,707.5 2,572.5 7,684.3 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 ...................................................................................... 1.1 –3.9 5.2 –7.8 4.5 86.6 39.1 17.1 22.7 48.7 11.3 17.4 11.0 7.4 –4.2 32.4 18.0 6.1 11.8 15.4 11.8 1.3 7.0 –4.4 10.1 31.0 25.1 23.0 4.9 8.0 –8.7 –12.2 –23.4 7.2 2.1 76.0 6 59.1 7 58.9 8 8.4 9 21.6 10 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 ...................................................................................... 0.0 –0.1 0.3 –0.3 0.1 0.7 0.9 1.0 0.9 0.6 0.1 0.4 0.7 0.3 –0.1 0.3 0.4 0.4 0.5 0.2 0.1 0.0 0.4 –0.2 0.1 0.3 0.6 1.4 0.2 0.1 –0.1 –0.3 –1.4 0.3 0.0 0.6 1.4 3.5 0.3 0.3 11 12 13 14 15 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) Seasonally adjusted at annual rates Line 2015 2016 2016 Q2 2017 Q3 Q4 Q1 Q2 Line Q3 Billions of chained (2009) dollars 1 Personal consumption expenditures (PCE)...................... 2 Goods .......................................................................................... 3 Durable goods........................................................................... 4 Nondurable goods..................................................................... 5 Services....................................................................................... 11,264.3 3,927.3 1,511.8 2,446.8 7,340.1 11,572.1 4,072.2 1,595.1 2,514.3 7,507.3 11,537.7 4,059.1 1,576.2 2,517.5 7,485.7 11,618.1 4,090.8 1,611.9 2,517.9 7,534.9 11,702.1 4,138.4 1,647.9 2,533.2 7,573.8 11,758.0 4,145.4 1,647.3 2,540.2 7,621.0 11,853.0 4,199.9 1,677.8 2,566.6 7,664.4 84.0 47.6 36.0 15.3 38.9 55.9 7.0 –0.6 7.0 47.2 94.9 54.5 30.5 26.4 43.4 2.9 4.7 9.2 2.5 2.1 1.9 0.7 –0.1 1.1 2.5 3.3 5.4 7.6 4.2 2.3 11,922.1 4,243.4 1,711.5 2,580.1 7,692.9 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....................................................................................... 395.9 173.8 108.7 73.8 224.6 307.9 144.9 83.3 67.5 167.2 107.2 58.7 31.8 28.9 51.0 80.4 31.7 35.7 0.4 49.2 69.2 6 43.5 7 33.7 8 13.6 9 28.5 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....................................................................................... Source: U.S. Bureau of Economic Analysis 3.6 4.6 7.7 3.1 3.2 2.7 3.7 5.5 2.8 2.3 3.8 6.0 8.5 4.7 2.8 2.8 3.2 9.4 0.1 2.7 2.4 4.2 8.3 2.1 1.5 11 12 13 14 15 October 30, 2017 Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) 2017 Line Feb. March April May June July r Aug. r Sept. 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....................... 112.329 102.222 87.748 109.902 117.701 112.053 101.622 87.241 109.252 117.602 112.302 101.617 87.035 109.378 117.989 112.236 101.000 86.782 108.534 118.225 112.282 100.764 86.562 108.292 118.426 112.399 100.881 86.389 108.596 118.543 112.629 101.157 86.281 109.120 118.748 113.051 101.850 86.030 110.425 119.020 1 2 3 4 5 112.708 109.260 107.322 110.522 110.657 112.536 109.672 103.695 110.215 110.462 112.742 109.960 104.752 110.371 110.556 112.824 109.945 101.511 110.239 110.583 112.974 109.792 99.758 110.254 110.711 113.092 109.980 99.653 110.320 110.771 113.206 109.956 102.770 110.569 110.890 113.352 6 109.962 7 109.768 8 111.006 9 111.016 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....................... 0.1 –0.1 0.0 –0.2 0.2 –0.2 –0.6 –0.6 –0.6 –0.1 0.2 0.0 –0.2 0.1 0.3 –0.1 –0.6 –0.3 –0.8 0.2 0.0 –0.2 –0.3 –0.2 0.2 0.1 0.1 –0.2 0.3 0.1 0.2 0.3 –0.1 0.5 0.2 0.4 0.7 –0.3 1.2 0.2 11 12 13 14 15 0.2 0.1 –1.3 0.1 0.1 –0.2 0.4 –3.4 –0.3 –0.2 0.2 0.3 1.0 0.1 0.1 0.1 0.0 –3.1 –0.1 0.0 0.1 –0.1 –1.7 0.0 0.1 0.1 0.2 –0.1 0.1 0.1 0.1 0.0 3.1 0.2 0.1 0.1 0.0 6.8 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. Source: U.S. Bureau of Economic Analysis Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago 2017 Line Feb. 1 Disposable personal income .................................................... 2 Personal consumption expenditures....................................... 3 Goods ....................................................................................... 4 Durable goods ....................................................................... 5 Nondurable goods ................................................................. 6 Services .................................................................................... March 0.9 2.5 3.1 6.3 1.5 2.2 1.3 3.2 4.0 6.9 2.5 2.9 April May 1.0 2.8 3.6 6.7 2.0 2.4 June 1.4 2.8 3.7 6.6 2.1 2.4 July 1.3 2.6 3.1 6.1 1.7 2.3 r 1.2 2.7 3.5 5.8 2.3 2.3 Aug. r 1.2 2.5 3.5 5.4 2.4 2.0 Sept. p 1.2 2.7 4.2 7.3 2.6 2.0 Line 1 2 3 4 5 6 p Preliminary r Revised Source: U.S. Bureau of Economic Analysis 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....................... 2017 Feb. March April May June July r Aug. r 2.2 1.2 –2.0 2.9 2.6 1.8 0.7 –2.3 2.3 2.4 1.7 0.3 –2.5 1.8 2.4 1.5 –0.2 –2.4 1.0 2.3 1.4 –0.4 –2.1 0.5 2.3 1.4 0.0 –2.1 1.0 2.1 1.4 0.1 –2.2 1.3 2.1 1.9 –1.5 17.3 2.0 1.6 1.6 –0.7 12.0 1.6 1.4 1.6 –0.6 9.8 1.5 1.3 1.5 –0.1 5.4 1.3 1.2 1.5 –0.1 2.1 1.1 1.2 1.4 0.2 3.3 1.1 1.1 1.3 0.3 6.7 1.2 1.0 Sept. p 1.6 0.6 –2.1 2.0 2.1 Line 1 2 3 4 5 1.3 6 0.4 7 11.1 8 1.5 9 1.1 10 p Preliminary r Revised 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Source: U.S. Bureau of Economic Analysis
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