EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, OCTOBER 1, 2010 BEA 10-48 James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov Kyle Brown: (202) 606-5302 (Personal Outlays) pce@bea.gov PERSONAL INCOME AND OUTLAYS: AUGUST 2010 Personal income increased $59.3 billion, or 0.5 percent, and disposable personal income (DPI) increased $52.0 billion, or 0.5 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $41.3 billion, or 0.4 percent. In July, personal income increased $22.0 billion, or 0.2 percent, DPI increased $5.7 billion, or less than 0.1 percent, and PCE increased $41.4 billion, or 0.4 percent, based on revised estimates. Real disposable income increased 0.2 percent in August, in contrast to a decrease of 0.2 percent in July. Real PCE increased 0.2 percent, the same increase as in July. 2010 Apr. May June July Aug. (Percent change from preceding month) Personal income, current dollars 0.4 0.4 0.0 0.2 0.5 Disposable personal income: Current dollars 0.5 0.4 0.0 0.0 0.5 Chained (2005) dollars 0.5 0.4 0.2 -0.2 0.2 Personal consumption expenditures: Current dollars 0.0 0.2 0.0 0.4 0.4 Chained (2005) dollars 0.0 0.3 0.1 0.2 0.2 Wages and salaries Private wage and salary disbursements increased $26.1 billion in August, compared with an increase of $25.7 billion in July. Goods-producing industries' payrolls increased $6.7 billion, compared with an increase of $6.2 billion; manufacturing payrolls increased $2.9 billion, compared with an increase of $4.8 billion. Services-producing industries' payrolls increased $19.4 billion, compared with an increase of $19.5 billion. Government wage and salary disbursements decreased $5.2 billion in August, in contrast to an increase of $0.8 billion in July. Increased furloughs of state and local workers reduced state and local payrolls by $3.9 billion at an annual rate in August, after a decrease in furloughs boosted payrolls by $2.0 billion in July. Temporary Census workers boosted federal civilian payrolls by $0.9 billion at an annual rate in August, after boosting payrolls by $2.5 billion in July. Other personal income Supplements to wages and salaries increased $4.1 billion in August, compared with an increase of $3.9 billion in July. Proprietors' income increased $10.1 billion in August, compared with an increase of $2.6 billion in July. Farm proprietors' income increased $5.2 billion, the same increase as in July. Nonfarm proprietors' income increased $4.8 billion in August, in contrast to a decrease of $2.6 billion in July. Rental income of persons increased $2.5 billion in August, compared with an increase of $2.2 billion in July. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $11.0 billion, compared with a decrease of $10.3 billion. Personal current transfer receipts increased $35.8 billion in August, compared with an increase of $0.5 billion in July. The August change reflected the effects of unemployment compensation legislation, which boosted special unemployment insurance benefits by $20.6 billion at an annual rate in August, after reducing benefits by $17.1 billion in July. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $3.1 billion in August, compared with an increase of $3.4 billion in July. Personal current taxes and disposable personal income Personal current taxes increased $7.2 billion in August, compared with an increase of $16.3 billion in July. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $52.0 billion, or 0.5 percent, in August, compared with an increase of 5.7 billion, or less than 0.1 percent, in July. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $40.1 billion in August, the same increase as in July. PCE increased $41.3 billion in August, compared with an increase of $41.4 billion in July. Personal saving -- DPI less personal outlays -- was $661.9 billion in August, compared with $650.0 billion in July. Personal saving as a percentage of disposable personal income was 5.8 percent in August, compared with 5.7 percent in July. 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 -- increased 0.2 percent in August, in contrast to a decrease of 0.2 percent in July. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in August, the same increase as in July. Purchases of durable goods decreased 0.2 percent in August, in contrast to an increase of 1.3 percent in July. Purchases of nondurable goods increased 0.8 percent, in contrast to a decrease of 0.3 percent. Purchases of services increased less than 0.1 percent, compared with an increase of 0.2 percent. PCE price index -- The price index for PCE increased 0.2 percent in August, the same increase as in July. The PCE price index, excluding food and energy, increased 0.1 percent in August, the same increase as in July. Revisions Estimates have been revised for April through July. Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for June and July -- revised and as published in last month's release -- are shown below. Change from preceding month June July Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal Income: Current dollars -2.7 1.5 0.0 0.0 30.0 22.0 0.2 0.2 Disposable personal income: Current dollars -0.2 4.0 0.0 0.0 17.6 5.7 0.2 0.0 Chained (2005) dollars 14.3 16.6 0.1 0.2 -8.2 -17.8 -0.1 -0.2 Personal consumption expenditures: Current dollars -4.0 -3.3 0.0 0.0 44.1 41.4 0.4 0.4 Chained (2005) dollars 9.6 8.8 0.1 0.1 17.9 16.5 0.2 0.2 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 1, 2010, at 8:30 A.M. EDT for Personal Income and Outlays for September. -more- _______________________ 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- Table 1. Personal Income and Its Disposition (Months) [Billions of dollars; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,324.3 12,337.2 12,389.4 12,443.6 12,488.2 12,489.7 12,511.7 12,571.0 Compensation of employees, received...... 7,855.0 7,851.0 7,868.3 7,899.1 7,934.7 7,927.2 7,957.6 7,982.6 Wage and salary disbursements.......... 6,291.3 6,284.8 6,298.1 6,325.0 6,356.0 6,346.6 6,373.1 6,394.0 Private industries................... 5,107.6 5,099.7 5,110.5 5,134.9 5,160.1 5,153.2 5,178.9 5,205.0 Goods-producing industries......... 1,037.4 1,028.8 1,030.3 1,035.4 1,050.0 1,039.3 1,045.5 1,052.2 Manufacturing.................... 655.6 651.0 651.3 654.8 666.8 658.4 663.2 666.1 Services-producing industries...... 4,070.1 4,070.8 4,080.2 4,099.5 4,110.1 4,113.9 4,133.4 4,152.8 Trade, transportation, and utilities....................... 987.9 986.4 989.6 995.8 998.6 996.0 1,002.0 1,005.7 Other services-producing industries...................... 3,082.2 3,084.4 3,090.6 3,103.6 3,111.5 3,117.9 3,131.4 3,147.2 Government........................... 1,183.7 1,185.2 1,187.6 1,190.1 1,195.9 1,193.4 1,194.2 1,189.0 Supplements to wages and salaries...... 1,563.7 1,566.1 1,570.2 1,574.1 1,578.7 1,580.6 1,584.5 1,588.6 Employer contributions for employee pension and insurance funds......... 1,093.1 1,095.8 1,098.5 1,100.7 1,103.1 1,105.5 1,107.8 1,110.2 Employer contributions for government social insurance.................... 470.6 470.3 471.7 473.3 475.6 475.1 476.7 478.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,027.0 1,028.0 1,037.2 1,049.2 1,051.7 1,048.3 1,050.9 1,061.0 Farm................................... 37.4 36.8 36.2 37.6 38.9 40.3 45.5 50.7 Nonfarm................................ 989.7 991.2 1,001.0 1,011.6 1,012.7 1,008.0 1,005.4 1,010.2 Rental income of persons with capital consumption adjustment.................. 287.4 292.5 298.0 298.1 298.8 299.6 301.8 304.3 Personal income receipts on assets....... 1,913.3 1,916.1 1,903.8 1,911.1 1,915.0 1,917.3 1,907.0 1,896.0 Personal interest income............... 1,212.6 1,208.7 1,204.7 1,205.0 1,205.3 1,205.6 1,193.9 1,182.3 Personal dividend income............... 700.7 707.4 699.0 706.0 709.7 711.8 713.1 713.7 Personal current transfer receipts....... 2,228.7 2,236.3 2,271.4 2,279.0 2,285.4 2,293.8 2,294.3 2,330.1 Government social benefits to persons.. 2,192.1 2,199.7 2,234.7 2,242.3 2,248.4 2,256.5 2,257.2 2,293.0 Old-age, survivors, disability, and health insurance benefits........... 1,187.3 1,190.7 1,195.9 1,207.9 1,207.9 1,208.6 1,219.5 1,221.5 Government unemployment insurance benefits............................ 143.3 138.2 156.8 137.2 137.1 136.1 120.5 146.9 Other................................ 861.6 870.8 882.1 897.2 903.4 911.9 917.1 924.6 Other current transfer receipts, from business (net)........................ 36.6 36.6 36.7 36.7 37.0 37.2 37.0 37.1 Less: Contributions for government social insurance, domestic..................... 987.3 986.7 989.3 992.9 997.4 996.5 999.9 1,003.0 Less: Personal current taxes............... 1,133.1 1,133.6 1,137.4 1,135.0 1,139.7 1,137.2 1,153.5 1,160.7 Equals: Disposable personal income......... 11,191.2 11,203.6 11,252.1 11,308.6 11,348.5 11,352.5 11,358.2 11,410.2 Less: Personal outlays..................... 10,554.0 10,602.9 10,654.6 10,652.6 10,670.4 10,668.1 10,708.2 10,748.3 Personal consumption expenditures........ 10,182.8 10,229.9 10,279.7 10,275.2 10,292.1 10,288.8 10,330.2 10,371.5 Goods.................................. 3,346.8 3,375.3 3,417.9 3,396.4 3,374.8 3,361.2 3,380.3 3,410.2 Durable goods........................ 1,041.0 1,052.2 1,089.0 1,078.1 1,074.6 1,069.5 1,080.4 1,078.9 Nondurable goods..................... 2,305.8 2,323.1 2,328.9 2,318.3 2,300.1 2,291.7 2,299.9 2,331.3 Services............................... 6,836.1 6,854.6 6,861.8 6,878.8 6,917.3 6,927.6 6,949.9 6,961.3 Personal interest payments\1\............ 202.5 203.8 205.2 205.6 206.0 206.5 204.6 202.8 Personal current transfer payments....... 168.7 169.2 169.7 171.7 172.3 172.8 173.4 174.0 To government.......................... 97.9 98.5 99.0 99.5 100.1 100.6 101.2 101.8 To the rest of the world (net)......... 70.7 70.7 70.7 72.2 72.2 72.2 72.2 72.2 Equals: Personal saving.................... 637.2 600.6 597.4 656.0 678.1 684.4 650.0 661.9 Personal saving as a percentage of disposable personal income.............. 5.7 5.4 5.3 5.8 6.0 6.0 5.7 5.8 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\2\............... 9,110.5 9,111.8 9,112.9 9,157.5 9,200.0 9,205.5 9,204.4 9,203.8 Disposable personal income: Total, billions of chained (2005) dollars\2\............................ 10,099.3 10,106.5 10,134.3 10,188.1 10,233.1 10,249.7 10,231.9 10,254.8 Per capita: Current dollars...................... 36,226 36,244 36,378 36,537 36,642 36,627 36,618 36,756 Chained (2005) dollars............... 32,691 32,695 32,764 32,917 33,040 33,069 32,987 33,034 Population (midperiod, thousands)\3\..... 308,930 309,119 309,312 309,509 309,718 309,946 310,185 310,431 ----------------------------------------------------------------------------------------------------------------------------------- p Preliminary r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 3. 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; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- 2008 2009 I 09 II 09 III 09 IV 09 I 10 II 10\r\ ----------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,391.1 12,174.9 12,093.2 12,203.4 12,164.0 12,239.0 12,350.3 12,473.8 Compensation of employees, received...... 8,065.8 7,806.7 7,777.7 7,819.0 7,798.7 7,831.4 7,858.1 7,920.3 Wage and salary disbursements.......... 6,559.0 6,274.1 6,260.0 6,287.7 6,263.9 6,284.9 6,291.4 6,342.5 Private industries................... 5,415.1 5,100.5 5,092.5 5,111.4 5,088.3 5,110.0 5,105.9 5,149.4 Goods-producing industries......... 1,207.6 1,064.0 1,100.2 1,063.0 1,046.7 1,046.1 1,032.2 1,041.6 Manufacturing.................... 741.2 661.5 678.6 659.1 649.8 658.3 652.6 660.0 Services-producing industries...... 4,207.4 4,036.6 3,992.3 4,048.5 4,041.6 4,064.0 4,073.7 4,107.8 Trade, transportation, and utilities....................... 1,050.9 990.5 997.0 989.9 986.9 988.2 988.0 996.8 Other services-producing industries...................... 3,156.6 3,046.1 2,995.3 3,058.5 3,054.7 3,075.7 3,085.8 3,111.0 Government........................... 1,144.0 1,173.6 1,167.6 1,176.2 1,175.6 1,174.9 1,185.5 1,193.1 Supplements to wages and salaries...... 1,506.8 1,532.6 1,517.7 1,531.4 1,534.8 1,546.5 1,566.7 1,577.8 Employer contributions for employee pension and insurance funds......... 1,036.6 1,072.0 1,060.2 1,069.9 1,074.0 1,084.0 1,095.8 1,103.1 Employer contributions for government social insurance.................... 470.1 460.6 457.4 461.5 460.8 462.5 470.9 474.7 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,102.0 1,011.9 1,018.7 1,000.5 1,006.4 1,022.1 1,030.7 1,049.7 Farm................................... 50.8 30.5 29.6 28.0 28.0 36.2 36.8 38.9 Nonfarm................................ 1,051.2 981.5 989.0 972.5 978.4 985.9 994.0 1,010.8 Rental income of persons with capital consumption adjustment.................. 222.0 274.0 264.7 269.4 279.1 282.8 292.7 298.8 Personal income receipts on assets....... 2,109.3 1,919.7 1,972.7 1,925.9 1,891.1 1,889.2 1,911.1 1,914.4 Personal interest income............... 1,314.7 1,222.3 1,240.5 1,229.5 1,213.3 1,205.8 1,208.7 1,205.3 Personal dividend income............... 794.6 697.4 732.2 696.4 677.8 683.4 702.4 709.2 Personal current transfer receipts....... 1,879.2 2,132.8 2,023.7 2,160.2 2,159.3 2,188.2 2,245.5 2,286.1 Government social benefits to persons.. 1,842.6 2,096.8 1,987.2 2,124.1 2,123.4 2,152.5 2,208.9 2,249.1 Old-age, survivors, disability, and health insurance benefits........... 1,068.3 1,164.5 1,138.6 1,158.2 1,172.6 1,188.8 1,191.3 1,208.1 Government unemployment insurance benefits............................ 50.7 128.6 98.2 127.7 145.0 143.4 146.1 136.8 Other................................ 723.6 803.7 750.4 838.1 805.9 820.2 871.5 904.2 Other current transfer receipts, from business (net)........................ 36.7 36.0 36.5 36.1 35.8 35.8 36.6 37.0 Less: Contributions for government social insurance, domestic..................... 987.2 970.3 964.2 971.6 970.6 974.8 987.8 995.6 Less: Personal current taxes............... 1,438.2 1,140.0 1,213.4 1,112.5 1,117.0 1,117.2 1,134.7 1,137.3 Equals: Disposable personal income......... 10,952.9 11,034.9 10,879.8 11,090.9 11,047.0 11,121.7 11,215.6 11,336.5 Less: Personal outlays..................... 10,505.0 10,379.6 10,291.6 10,297.4 10,423.6 10,505.7 10,603.9 10,663.7 Personal consumption expenditures........ 10,104.5 10,001.3 9,913.0 9,920.1 10,040.7 10,131.5 10,230.8 10,285.4 Goods.................................. 3,379.5 3,230.7 3,158.4 3,175.4 3,276.1 3,312.9 3,380.0 3,377.5 Durable goods........................ 1,083.5 1,026.5 1,012.2 1,004.7 1,045.2 1,043.9 1,060.7 1,074.1 Nondurable goods..................... 2,296.0 2,204.2 2,146.2 2,170.7 2,231.0 2,269.0 2,319.3 2,303.4 Services............................... 6,725.0 6,770.6 6,754.6 6,744.7 6,764.6 6,818.6 6,850.9 6,907.9 Personal interest payments\1\............ 246.2 216.8 220.1 218.4 220.9 207.8 203.8 206.0 Personal current transfer payments....... 154.3 161.4 158.5 158.9 161.9 166.4 169.2 172.3 To government.......................... 89.7 95.0 93.1 94.3 95.6 97.0 98.5 100.1 To the rest of the world (net)......... 64.6 66.5 65.4 64.6 66.3 69.5 70.7 72.2 Equals: Personal saving.................... 447.9 655.3 588.2 793.5 623.4 616.0 611.8 672.8 Personal saving as a percentage of disposable personal income.............. 4.1 5.9 5.4 7.2 5.6 5.5 5.5 5.9 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\2\............... 9,638.5 9,191.1 9,298.7 9,230.2 9,128.7 9,109.7 9,111.7 9,187.6 Disposable personal income: Total, billions of chained (2005) dollars\2\............................ 10,042.9 10,099.8 10,046.9 10,193.0 10,079.7 10,080.4 10,113.3 10,223.6 Per capita: Current dollars...................... 35,931 35,888 35,497 36,115 35,888 36,049 36,282 36,602 Chained (2005) dollars............... 32,946 32,847 32,780 33,191 32,746 32,673 32,717 33,009 Population (midperiod, thousands)\3\..... 304,831 307,483 306,496 307,101 307,815 308,521 309,120 309,724 ----------------------------------------------------------------------------------------------------------------------------------- r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 3. 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; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 23.6 12.9 52.2 54.2 44.6 1.5 22.0 59.3 Compensation of employees, received...... 12.6 -4.0 17.3 30.8 35.6 -7.5 30.4 25.0 Wage and salary disbursements.......... -.2 -6.5 13.3 26.9 31.0 -9.4 26.5 20.9 Private industries................... -9.1 -7.9 10.8 24.4 25.2 -6.9 25.7 26.1 Goods-producing industries......... -9.5 -8.6 1.5 5.1 14.6 -10.7 6.2 6.7 Manufacturing.................... -5.0 -4.6 .3 3.5 12.0 -8.4 4.8 2.9 Services-producing industries...... .3 .7 9.4 19.3 10.6 3.8 19.5 19.4 Trade, transportation, and utilities....................... .3 -1.5 3.2 6.2 2.8 -2.6 6.0 3.7 Other services-producing industries...................... .0 2.2 6.2 13.0 7.9 6.4 13.5 15.8 Government........................... 8.9 1.5 2.4 2.5 5.8 -2.5 .8 -5.2 Supplements to wages and salaries...... 12.8 2.4 4.1 3.9 4.6 1.9 3.9 4.1 Employer contributions for employee pension and insurance funds......... 5.0 2.7 2.7 2.2 2.4 2.4 2.3 2.4 Employer contributions for government social insurance.................... 7.8 -.3 1.4 1.6 2.3 -.5 1.6 1.6 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1.7 1.0 9.2 12.0 2.5 -3.4 2.6 10.1 Farm................................... -.6 -.6 -.6 1.4 1.3 1.4 5.2 5.2 Nonfarm................................ 2.4 1.5 9.8 10.6 1.1 -4.7 -2.6 4.8 Rental income of persons with capital consumption adjustment.................. 5.1 5.1 5.5 .1 .7 .8 2.2 2.5 Personal income receipts on assets....... -2.6 2.8 -12.3 7.3 3.9 2.3 -10.3 -11.0 Personal interest income............... -4.0 -3.9 -4.0 .3 .3 .3 -11.7 -11.6 Personal dividend income............... 1.4 6.7 -8.4 7.0 3.7 2.1 1.3 .6 Personal current transfer receipts....... 18.2 7.6 35.1 7.6 6.4 8.4 .5 35.8 Government social benefits to persons.. 17.4 7.6 35.0 7.6 6.1 8.1 .7 35.8 Old-age, survivors, disability, and health insurance benefits........... -11.1 3.4 5.2 12.0 .0 .7 10.9 2.0 Government unemployment insurance benefits............................ -6.8 -5.1 18.6 -19.6 -.1 -1.0 -15.6 26.4 Other................................ 35.4 9.2 11.3 15.1 6.2 8.5 5.2 7.5 Other current transfer receipts, from business (net)........................ .8 .0 .1 .0 .3 .2 -.2 .1 Less: Contributions for government social insurance, domestic..................... 11.5 -.6 2.6 3.6 4.5 -.9 3.4 3.1 Less: Personal current taxes............... 16.3 .5 3.8 -2.4 4.7 -2.5 16.3 7.2 Equals: Disposable personal income......... 7.3 12.4 48.5 56.5 39.9 4.0 5.7 52.0 Less: Personal outlays..................... 17.6 48.9 51.7 -2.0 17.8 -2.3 40.1 40.1 Personal consumption expenditures........ 14.4 47.1 49.8 -4.5 16.9 -3.3 41.4 41.3 Goods.................................. 19.8 28.5 42.6 -21.5 -21.6 -13.6 19.1 29.9 Durable goods........................ -10.8 11.2 36.8 -10.9 -3.5 -5.1 10.9 -1.5 Nondurable goods..................... 30.6 17.3 5.8 -10.6 -18.2 -8.4 8.2 31.4 Services............................... -5.3 18.5 7.2 17.0 38.5 10.3 22.3 11.4 Personal interest payments\1\............ 1.4 1.3 1.4 .4 .4 .5 -1.9 -1.8 Personal current transfer payments....... 1.8 .5 .5 2.0 .6 .5 .6 .6 To government.......................... .5 .6 .5 .5 .6 .5 .6 .6 To the rest of the world (net)......... 1.2 .0 .0 1.5 .0 .0 .0 .0 Equals: Personal saving.................... -10.3 -36.6 -3.2 58.6 22.1 6.3 -34.4 11.9 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\2\....................... -18.1 1.3 1.1 44.6 42.5 5.5 -1.1 -.6 Disposable personal income, billions of chained (2005) dollars\2\............ -18.8 7.2 27.8 53.8 45.0 16.6 -17.8 22.9 ----------------------------------------------------------------------------------------------------------------------------------- p Preliminary r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters) [Billions of dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- 2008 2009 I 09 II 09 III 09 IV 09 I 10 II 10\r\ ----------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 478.8 -216.2 -263.1 110.2 -39.4 75.0 111.3 123.5 Compensation of employees, received...... 203.6 -259.1 -243.0 41.3 -20.3 32.7 26.7 62.2 Wage and salary disbursements.......... 137.3 -284.9 -237.3 27.7 -23.8 21.0 6.5 51.1 Private industries................... 82.4 -314.6 -245.0 18.9 -23.1 21.7 -4.1 43.5 Goods-producing industries......... -5.8 -143.6 -75.8 -37.2 -16.3 -.6 -13.9 9.4 Manufacturing.................... -11.0 -79.7 -41.0 -19.5 -9.3 8.5 -5.7 7.4 Services-producing industries...... 88.1 -170.8 -169.3 56.2 -6.9 22.4 9.7 34.1 Trade, transportation, and utilities....................... 5.7 -60.4 -38.0 -7.1 -3.0 1.3 -.2 8.8 Other services-producing industries...................... 82.5 -110.5 -131.3 63.2 -3.8 21.0 10.1 25.2 Government........................... 55.0 29.6 7.9 8.6 -.6 -.7 10.6 7.6 Supplements to wages and salaries...... 66.4 25.8 -5.8 13.7 3.4 11.7 20.2 11.1 Employer contributions for employee pension and insurance funds......... 56.1 35.4 4.7 9.7 4.1 10.0 11.8 7.3 Employer contributions for government social insurance.................... 10.2 -9.5 -10.6 4.1 -.7 1.7 8.4 3.8 Proprietors' income with inventory valuation and capital consumption adjustments............................. 11.6 -90.1 -54.3 -18.2 5.9 15.7 8.6 19.0 Farm................................... 13.0 -20.3 -9.9 -1.6 .0 8.2 .6 2.1 Nonfarm................................ -1.4 -69.7 -44.5 -16.5 5.9 7.5 8.1 16.8 Rental income of persons with capital consumption adjustment.................. 78.3 52.0 2.1 4.7 9.7 3.7 9.9 6.1 Personal income receipts on assets....... 52.3 -189.6 -96.4 -46.8 -34.8 -1.9 21.9 3.3 Personal interest income............... 49.6 -92.4 -55.4 -11.0 -16.2 -7.5 2.9 -3.4 Personal dividend income............... 2.7 -97.2 -41.0 -35.8 -18.6 5.6 19.0 6.8 Personal current transfer receipts....... 160.7 253.6 109.5 136.5 -.9 28.9 57.3 40.6 Government social benefits to persons.. 154.7 254.2 110.1 136.9 -.7 29.1 56.4 40.2 Old-age, survivors, disability, and health insurance benefits........... 65.1 96.2 47.7 19.6 14.4 16.2 2.5 16.8 Government unemployment insurance benefits............................ 18.4 77.9 26.7 29.5 17.3 -1.6 2.7 -9.3 Other................................ 71.2 80.1 35.7 87.7 -32.2 14.3 51.3 32.7 Other current transfer receipts, from business (net)........................ 6.2 -.7 -.6 -.4 -.3 .0 .8 .4 Less: Contributions for government social insurance, domestic..................... 27.7 -16.9 -19.2 7.4 -1.0 4.2 13.0 7.8 Less: Personal current taxes............... -50.5 -298.2 -229.6 -100.9 4.5 .2 17.5 2.6 Equals: Disposable personal income......... 529.3 82.0 -33.5 211.1 -43.9 74.7 93.9 120.9 Less: Personal outlays..................... 296.1 -125.4 -53.7 5.8 126.2 82.1 98.2 59.8 Personal consumption expenditures........ 298.2 -103.2 -54.2 7.1 120.6 90.8 99.3 54.6 Goods.................................. 21.8 -148.8 -35.6 17.0 100.7 36.8 67.1 -2.5 Durable goods........................ -75.9 -57.0 6.6 -7.5 40.5 -1.3 16.8 13.4 Nondurable goods..................... 97.8 -91.8 -42.2 24.5 60.3 38.0 50.3 -15.9 Services............................... 276.4 45.6 -18.7 -9.9 19.9 54.0 32.3 57.0 Personal interest payments\1\............ -14.7 -29.4 -4.9 -1.7 2.5 -13.1 -4.0 2.2 Personal current transfer payments....... 12.6 7.1 5.4 .4 3.0 4.5 2.8 3.1 To government.......................... 7.3 5.3 1.1 1.2 1.3 1.4 1.5 1.6 To the rest of the world (net)......... 5.3 1.9 4.3 -.8 1.7 3.2 1.2 1.5 Equals: Personal saving.................... 233.2 207.4 20.2 205.3 -170.1 -7.4 -4.2 61.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\2\....................... -18.0 -447.4 -304.2 -68.5 -101.5 -19.0 2.0 75.9 Disposable personal income, billions of chained (2005) dollars\2\............ 168.7 56.9 10.6 146.1 -113.3 .7 32.9 110.3 ----------------------------------------------------------------------------------------------------------------------------------- r Revised 1. Consists of nonmortgage interest paid by households. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months) [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------- Personal income............................ .2 .1 .4 .4 .4 .0 .2 .5 Compensation of employees, received...... .2 -.1 .2 .4 .5 -.1 .4 .3 Wage and salary disbursements.......... .0 -.1 .2 .4 .5 -.1 .4 .3 Supplements to wages and salaries...... .8 .2 .3 .2 .3 .1 .2 .3 Proprietors' income with inventory valuation and capital consumption adjustments............................. .2 .1 .9 1.2 .2 -.3 .2 1.0 Rental income of persons with capital consumption adjustment.................. 1.8 1.8 1.9 .0 .3 .3 .7 .8 Personal income receipts on assets....... -.1 .1 -.6 .4 .2 .1 -.5 -.6 Personal interest income............... -.3 -.3 -.3 .0 .0 .0 -1.0 -1.0 Personal dividend income............... .2 1.0 -1.2 1.0 .5 .3 .2 .1 Personal current transfer receipts....... .8 .3 1.6 .3 .3 .4 .0 1.6 Less: Contributions for government social insurance, domestic..................... 1.2 -.1 .3 .4 .5 -.1 .3 .3 Less: Personal current taxes............... 1.5 .0 .3 -.2 .4 -.2 1.4 .6 Equals: Disposable personal income......... .1 .1 .4 .5 .4 .0 .0 .5 Addenda: Personal consumption expenditures........ .1 .5 .5 .0 .2 .0 .4 .4 Goods.................................. .6 .9 1.3 -.6 -.6 -.4 .6 .9 Durable goods........................ -1.0 1.1 3.5 -1.0 -.3 -.5 1.0 -.1 Nondurable goods..................... 1.3 .8 .2 -.5 -.8 -.4 .4 1.4 Services............................... -.1 .3 .1 .2 .6 .1 .3 .2 ---------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... -.2 .0 .0 .5 .5 .1 .0 .0 Real disposable personal income.......... -.2 .1 .3 .5 .4 .2 -.2 .2 ----------------------------------------------------------------------------------------------------------------------------------- p Preliminary r Revised Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters) [Quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- 2008 2009 I 09 II 09 III 09 IV 09 I 10 II 10\r\ ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------- Personal income............................ 4.0 -1.7 -8.2 3.7 -1.3 2.5 3.7 4.1 Compensation of employees, received...... 2.6 -3.2 -11.6 2.1 -1.0 1.7 1.4 3.2 Wage and salary disbursements.......... 2.1 -4.3 -13.8 1.8 -1.5 1.3 .4 3.3 Supplements to wages and salaries...... 4.6 1.7 -1.5 3.7 .9 3.1 5.3 2.9 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1.1 -8.2 -18.8 -6.9 2.4 6.4 3.4 7.6 Rental income of persons with capital consumption adjustment.................. 54.5 23.4 3.1 7.3 15.3 5.4 14.7 8.7 Personal income receipts on assets....... 2.5 -9.0 -17.4 -9.2 -7.0 -.4 4.7 .7 Personal interest income............... 3.9 -7.0 -16.0 -3.5 -5.2 -2.5 1.0 -1.1 Personal dividend income............... .3 -12.2 -19.6 -18.2 -10.2 3.3 11.6 3.9 Personal current transfer receipts....... 9.4 13.5 24.9 29.8 -.2 5.5 10.9 7.4 Less: Contributions for government social insurance, domestic..................... 2.9 -1.7 -7.6 3.1 -.4 1.7 5.4 3.2 Less: Personal current taxes............... -3.4 -20.7 -50.0 -29.4 1.6 .1 6.4 .9 Equals: Disposable personal income......... 5.1 .7 -1.2 8.0 -1.6 2.7 3.4 4.4 Addenda: Personal consumption expenditures........ 3.0 -1.0 -2.2 .3 5.0 3.7 4.0 2.1 Goods.................................. .7 -4.4 -4.4 2.2 13.3 4.6 8.3 -.3 Durable goods........................ -6.6 -5.3 2.7 -3.0 17.1 -.5 6.6 5.1 Nondurable goods..................... 4.4 -4.0 -7.5 4.7 11.6 7.0 9.2 -2.7 Services............................... 4.3 .7 -1.1 -.6 1.2 3.2 1.9 3.4 ---------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... -.2 -4.6 -3.2 -.7 -1.1 -.2 .0 .8 Real disposable personal income.......... 1.7 .6 .4 5.9 -4.4 .0 1.3 4.4 ----------------------------------------------------------------------------------------------------------------------------------- r Revised Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months) ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,189.3 9,228.2 9,258.6 9,257.2 9,280.5 9,289.3 9,305.8 9,321.2 Goods.................................... 3,159.9 3,193.0 3,233.3 3,223.7 3,221.8 3,222.3 3,228.3 3,243.2 Durable goods.......................... 1,116.5 1,131.0 1,169.2 1,159.1 1,158.2 1,156.2 1,171.1 1,169.2 Nondurable goods....................... 2,038.7 2,057.7 2,064.0 2,063.4 2,062.3 2,064.4 2,057.7 2,073.2 Services................................. 6,027.4 6,034.6 6,026.7 6,034.4 6,058.9 6,066.9 6,077.5 6,078.8 ---------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... -10.0 38.9 30.4 -1.4 23.3 8.8 16.5 15.4 Goods.................................... 1.3 33.1 40.3 -9.6 -1.9 .5 6.0 14.9 Durable goods.......................... -8.7 14.5 38.2 -10.1 -.9 -2.0 14.9 -1.9 Nondurable goods....................... 8.4 19.0 6.3 -.6 -1.1 2.1 -6.7 15.5 Services................................. -11.0 7.2 -7.9 7.7 24.5 8.0 10.6 1.3 ---------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.1 .4 .3 .0 .3 .1 .2 .2 Goods.................................... .0 1.0 1.3 -.3 -.1 .0 .2 .5 Durable goods.......................... -.8 1.3 3.4 -.9 -.1 -.2 1.3 -.2 Nondurable goods....................... .4 .9 .3 .0 -.1 .1 -.3 .8 Services................................. -.2 .1 -.1 .1 .4 .1 .2 .0 ----------------------------------------------------------------------------------------------------------------------------------- p Preliminary r Revised Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) [Quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------- 2008 2009 I 09 II 09 III 09 IV 09 I 10 II 10\r\ ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Billions of chained (2005) dollars ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,265.0 9,153.9 9,154.1 9,117.0 9,161.6 9,182.9 9,225.4 9,275.7 Goods.................................... 3,180.3 3,117.4 3,095.7 3,084.0 3,138.2 3,151.8 3,195.4 3,222.6 Durable goods.......................... 1,136.4 1,094.6 1,076.6 1,068.2 1,118.3 1,115.1 1,138.9 1,157.8 Nondurable goods....................... 2,041.2 2,017.4 2,012.0 2,008.3 2,016.9 2,032.3 2,053.5 2,063.4 Services................................. 6,082.3 6,032.7 6,053.6 6,027.7 6,020.7 6,028.7 6,029.6 6,053.4 ---------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... -24.5 -111.1 -12.2 -37.1 44.6 21.3 42.5 50.3 Goods.................................... -81.3 -62.9 13.4 -11.7 54.2 13.6 43.6 27.2 Durable goods.......................... -62.2 -41.8 12.7 -8.4 50.1 -3.2 23.8 18.9 Nondurable goods....................... -23.1 -23.8 1.9 -3.7 8.6 15.4 21.2 9.9 Services................................. 54.0 -49.6 -24.9 -25.9 -7.0 8.0 .9 23.8 ---------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars ---------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.3 -1.2 -.5 -1.6 2.0 .9 1.9 2.2 Goods.................................... -2.5 -2.0 1.8 -1.5 7.2 1.7 5.7 3.4 Durable goods.......................... -5.2 -3.7 4.8 -3.1 20.1 -1.1 8.8 6.8 Nondurable goods....................... -1.1 -1.2 .4 -.7 1.7 3.1 4.2 1.9 Services................................. .9 -.8 -1.6 -1.7 -.5 .5 .1 1.6 ----------------------------------------------------------------------------------------------------------------------------------- r Revised Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months) ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 110.815 110.858 111.032 111.000 110.902 110.762 111.010 111.270 Goods.................................... 105.922 105.716 105.714 105.364 104.755 104.318 104.716 105.157 Durable goods.......................... 93.224 93.013 93.126 93.001 92.775 92.488 92.244 92.263 Nondurable goods....................... 113.105 112.903 112.838 112.360 111.537 111.016 111.777 112.456 Services................................. 113.416 113.589 113.856 113.994 114.169 114.186 114.354 114.518 Addenda: PCE excluding food and energy............ 109.774 109.856 110.030 110.071 110.188 110.255 110.358 110.487 Food\1\.................................. 113.262 113.391 113.746 113.989 113.987 113.771 113.821 113.904 Energy goods and services\2\............. 124.010 123.286 123.189 121.491 117.572 114.081 117.028 119.747 Market-based PCE\3\...................... 110.774 110.792 110.906 110.881 110.752 110.655 110.914 111.197 Market-based PCE excluding food and energy\3\........................... 109.552 109.610 109.715 109.776 109.892 110.042 110.135 110.269 ---------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------- PCE........................................ .3 .0 .2 .0 -.1 -.1 .2 .2 Goods.................................... .6 -.2 .0 -.3 -.6 -.4 .4 .4 Durable goods.......................... -.3 -.2 .1 -.1 -.2 -.3 -.3 .0 Nondurable goods....................... .9 -.2 -.1 -.4 -.7 -.5 .7 .6 Services................................. .1 .2 .2 .1 .2 .0 .1 .1 Addenda: PCE excluding food and energy............ .1 .1 .2 .0 .1 .1 .1 .1 Food\1\.................................. .1 .1 .3 .2 .0 -.2 .0 .1 Energy goods and services\2\............. 3.0 -.6 -.1 -1.4 -3.2 -3.0 2.6 2.3 Market-based PCE\3\...................... .2 .0 .1 .0 -.1 -.1 .2 .3 Market-based PCE excluding food and energy\3\........................... .0 .1 .1 .1 .1 .1 .1 .1 ----------------------------------------------------------------------------------------------------------------------------------- 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 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 ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. .1 .9 1.0 .6 -.7 1.0 1.4 1.7 Personal consumption expenditures.......... .1 .7 1.5 1.6 1.8 1.9 1.9 1.2 Goods.................................... 1.8 2.8 5.1 5.0 4.3 4.2 3.8 1.6 Durable goods.......................... 2.9 4.5 10.0 9.8 8.1 7.3 6.4 -.6 Nondurable goods....................... 1.4 2.0 2.8 2.9 2.5 2.9 2.6 2.7 Services................................. -.7 -.3 -.2 -.1 .6 .7 1.0 1.0 ----------------------------------------------------------------------------------------------------------------------------------- p Preliminary r Revised Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago ----------------------------------------------------------------------------------------------------------------------------------- Jan 10 Feb 10 Mar 10 Apr 10\r\ May 10\r\ Jun 10\r\ Jul 10\r\ Aug 10\p\ ----------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 2.5 2.3 2.5 2.3 2.1 1.4 1.5 1.5 Goods.................................... 4.3 3.3 3.4 2.9 2.2 .3 .8 .6 Durable goods.......................... -.8 -1.1 -1.0 -1.1 -1.3 -1.7 -1.4 -1.1 Nondurable goods....................... 6.7 5.4 5.6 4.8 3.8 1.2 1.8 1.4 Services................................. 1.7 1.8 2.0 2.0 2.0 1.9 1.9 1.9 Addenda: PCE excluding food and energy............ 1.8 1.7 1.8 1.5 1.5 1.4 1.4 1.4 Food\1\.................................. -1.4 -1.0 -.5 .1 .4 .2 .7 .7 Energy goods and services\2\............. 21.8 16.5 20.1 19.7 15.3 3.4 5.5 3.8 Market-based PCE\3\...................... 2.4 2.1 2.2 2.0 1.8 1.1 1.3 1.2 Market-based PCE excluding food and energy\3\........................... 1.6 1.4 1.3 1.1 1.1 1.1 1.1 1.1 ----------------------------------------------------------------------------------------------------------------------------------- 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 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.