EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, AUGUST 2, 2011 BEA 11-39 James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov Kyle Brown: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov Kurt Kunze: (202) 606-9748 (Annual Revision) PERSONAL INCOME AND OUTLAYS: JUNE 2011 REVISED ESTIMATES: 2003 THROUGH MAY 2011 Personal income increased $18.7 billion, or 0.1 percent, and disposable personal income (DPI) increased $16.3 billion, or 0.1 percent, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $21.9 billion, or 0.2 percent. In May, personal income increased $23.2 billion, or 0.2 percent, DPI increased $17.6 billion, or 0.2 percent, and PCE increased $5.9 billion, or 0.1 percent, based on revised estimates. Real disposable income increased 0.3 percent in June, in contrast to a decrease of less than 0.1 percent in May. Real PCE decreased less than 0.1 percent, compared with a decrease of 0.1 percent. 2011 Feb. Mar. Apr. May June (Percent change from preceding month) Personal income, current dollars 0.5 0.4 0.4 0.2 0.1 Disposable personal income: Current dollars 0.4 0.4 0.4 0.2 0.1 Chained (2005) dollars 0.0 0.0 0.1 0.0 0.3 Personal consumption expenditures: Current dollars 0.8 0.6 0.2 0.1 -0.2 Chained (2005) dollars 0.4 0.2 -0.1 -0.1 0.0 Wages and salaries Private wage and salary disbursements decreased $2.2 billion in June, in contrast to an increase of $15.0 billion in May. Goods-producing industries' payrolls decreased $1.8 billion, in contrast to an increase of $4.8 billion; manufacturing payrolls decreased $2.1 billion, in contrast to an increase of $4.1 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase of $10.1 billion. Government wage and salary disbursements decreased $0.4 billion, compared with a decrease of $0.5 billion. Other personal income Supplements to wages and salaries increased $1.5 billion in June, compared with an increase of $2.8 billion in May. Proprietors' income decreased $0.8 billion in June, in contrast to an increase of $0.6 billion in May. Farm proprietors' income decreased $0.5 billion, the same decrease as in May. Nonfarm proprietors' income decreased $0.3 billion in June, in contrast to an increase of $1.1 billion in May. Rental income of persons decreased $1.2 billion in June, compared with a decrease of $1.3 billion in May. Personal income receipts on assets (personal interest income plus personal dividend income) increased $12.0 billion, compared with an increase of $10.1 billion. Personal current transfer receipts increased $9.5 billion, in contrast to a decrease of $1.4 billion. Changes in personal current transfer receipts reflect the effects of unemployment compensation legislation. Contributions for government social insurance -- a subtraction in calculating personal income -- decreased $0.2 billion in June, in contrast to an increase of $2.2 billion in May. Personal current taxes and disposable personal income Personal current taxes increased $2.3 billion in June, compared with an increase of $5.6 billion in May. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $16.3 billion, or 0.1 percent, in June, compared with an increase of $17.6 billion, or 0.2 percent in May. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $22.6 billion in June, in contrast to an increase of $5.3 billion in May. PCE decreased $21.9 billion, in contrast to an increase of $5.9 billion. Personal saving -- DPI less personal outlays -- was $620.6 billion in June, compared with $581.7 billion in May. Personal saving as a percentage of disposable personal income was 5.4 percent in June, compared with 5.0 percent in May. 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 0.3 percent in June, in contrast to a decrease of less than 0.1 percent in May. Real PCE -- PCE adjusted to remove price changes -- decreased less than 0.1 percent in June, compared with a decrease of 0.1 percent in May. Purchases of durable goods decreased 0.6 percent, compared with a decrease of 1.4 percent. Purchases of motor vehicles and parts accounted for most of the decrease in June and in May. Purchases of nondurable goods increased 0.2 percent in June, in contrast to a decrease of 0.3 percent in May. Purchases of services decreased less than 0.1 percent, in contrast to an increase of 0.2 percent. PCE price index -- The price index for PCE decreased 0.2 percent in June, in contrast to an increase of 0.2 percent in May. The PCE price index, excluding food and energy, increased 0.1 percent, compared with an increase of 0.2 percent. Revisions of the Personal Income and Outlays Estimates The revised estimates of personal income, personal outlays, DPI, and personal saving reflect the results of the annual revision of the national income and product accounts (NIPAs). In addition to the regular revision of estimates for the most recent 3 years and the first 5 months of 2011, this “flexible” annual revision results in revisions to current-dollar personal outlays and personal saving back to January 2003. The reference year remains 2005. In cases for which the estimates for the reference year (2005) are revised, this results in revisions to the levels of the related index numbers and chained-dollar estimates for the entire historical period; revisions to percent changes before the first quarter of 2003 are small. Annual revisions, which are usually released in July, incorporate newly available and more comprehensive source data, as well as improved methodologies. In this annual revision, the notable revisions primarily reflect the incorporation of newly available and revised source data. Revised annual estimates of personal income and outlays for 2008-2010 are shown in table 12. Revised and previously published monthly estimates of personal income, DPI, PCE, personal saving as a percentage of DPI, real DPI, and real PCE are shown in table 13; revised and previously published annual and quarterly estimates are shown in table 14. Personal income was revised up $69.1 billion, or 0.6 percent, for 2008; was revised down $244.7 billion, or 2.0 percent, for 2009; and was revised down $167.5 billion, or 1.3 percent, for 2010. For 2008, upward revisions to personal interest income, to supplements to wages and salaries, and to rental income of persons were partly offset by downward revisions to personal dividend income, to wages and salaries, and to nonfarm proprietors’ income. For 2009, downward revisions to personal interest income, to personal dividend income, and to nonfarm proprietors’ income were partly offset by upward revisions to rental income of persons and to farm proprietors’ income. For 2010, downward revisions to personal interest income, to nonfarm proprietors’ income, to supplements to wages and salaries, and to personal current transfer receipts were partly offset by upward revisions to rental income of persons, to wages and salaries, and to farm proprietors’ income. Disposable personal income (DPI) (personal income less personal current taxes) was revised up $71.6 billion, or 0.7 percent, for 2008; was revised down $246.1 billion, or 2.2 percent, for 2009; and was revised down $195.0 billion, or 1.7 percent, for 2010. Personal current taxes was revised down $2.5 billion for 2008, was revised up $1.4 billion for 2009, and was revised up $27.6 billion for 2010. The percent change from the preceding year in real DPI was revised up from 1.7 percent to 2.4 percent for 2008, was revised down from an increase of 0.6 percent to a decrease of 2.3 percent for 2009, and was revised up from an increase of 1.4 percent to an increase of 1.8 percent for 2010. Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- was revised down for all 3 years: $72.8 billion for 2008, $143.3 billion for 2009, and $133.8 billion for 2010. For all 3 years, downward revisions to PCE accounted for most of the revisions to personal outlays. The personal saving rate (personal saving as a percentage of DPI) was revised up from 4.1 percent to 5.4 percent for 2008, was revised down from 5.9 percent to 5.1 percent for 2009, and was revised down from 5.7 percent to 5.3 percent for 2010. For the earlier period 2004-2007, PCE was revised down for all 4 years: $14.5 billion for 2004, $15.5 billion for 2005, $21.7 billion for 2006, and $34.0 billion for 2007. The personal saving rate was revised up from 3.4 percent to 3.6 percent for 2004, was revised up from 1.4 percent to 1.5 percent for 2005, was revised up from 2.4 percent to 2.6 percent for 2006, and was revised up from 2.1 percent to 2.4 percent for 2007. (For 2003, PCE was revised up by less than $1 billion, and the personal saving rate was unrevised.) NOTE. BEA acknowledges the special efforts by the Bureau of Labor Statistics with the assistance of 16 state employment offices in providing preliminary data for the first quarter of 2011 from the quarterly census of employment and wages. Wage and salary data from the state employment offices of California, Colorado, Connecticut, Delaware, Florida, Illinois, Kansas, Massachusetts, Missouri, New Mexico, North Carolina, New Jersey, New York, Ohio, Pennsylvania, and Texas were provided. These data should greatly improve the estimates of wages and salaries. Annual Revision of the National Income and Product Accounts The estimates released today reflect the results of the annual revision of the national income and product accounts (NIPAs). In addition to the regular revision of estimates for the most recent 3 years and through May 2011, current-dollar personal income and outlays and some components are revised back to January 2003. In cases for which the estimates for the reference year (2005) are revised, this results in revisions to the levels of the related index numbers and chained-dollar estimates for the entire historical period; revision to percent changes before January 2003 are small. Annual revisions, which are usually released in July, incorporate source data that are more complete, more detailed, and otherwise more reliable than those previously available. This release includes the revised monthly estimates of personal income and personal outlays and provides an overview of the results of the revision. The August 2011 Survey of Current Business will contain NIPA tables and an article describing the revisions. The complete set of revised estimates will be available on BEA’s Web site at www.bea.gov. 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 – August 29, 2011, at 8:30 A.M. EDT for Personal Income and Outlays for July. ________________________ 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. Table 1. Personal Income and Its Disposition (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 ---------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,346.2 12,415.1 12,485.5 12,456.6 12,636.6 12,621.9 12,497.8 12,528.1 12,513.9 12,456.2 12,352.4 Compensation of employees, received...... 8,070.5 8,100.3 8,126.1 8,078.0 8,069.9 8,072.3 8,073.0 8,091.3 8,090.0 8,093.7 8,051.1 Wage and salary disbursements.......... 6,584.0 6,601.0 6,616.5 6,565.0 6,551.6 6,548.2 6,543.7 6,556.6 6,551.5 6,552.8 6,511.1 Private industries................... 5,462.1 5,472.4 5,484.1 5,430.1 5,414.3 5,406.8 5,397.9 5,405.2 5,395.7 5,393.4 5,350.9 Goods-producing industries......... 1,231.4 1,227.9 1,238.4 1,221.0 1,217.5 1,216.9 1,207.1 1,204.9 1,193.9 1,193.8 1,184.2 Manufacturing.................... 756.0 753.4 757.8 747.5 746.5 748.6 743.0 739.8 732.4 733.0 725.3 Services-producing industries...... 4,230.8 4,244.6 4,245.7 4,209.1 4,196.8 4,189.9 4,190.8 4,200.4 4,201.8 4,199.6 4,166.7 Trade, transportation, and utilities....................... 1,060.7 1,065.2 1,065.4 1,056.4 1,051.8 1,051.7 1,047.9 1,047.1 1,047.8 1,044.0 1,034.9 Other services-producing industries...................... 3,170.1 3,179.4 3,180.4 3,152.7 3,145.0 3,138.2 3,142.9 3,153.3 3,154.0 3,155.6 3,131.7 Government........................... 1,121.9 1,128.6 1,132.3 1,134.9 1,137.3 1,141.4 1,145.8 1,151.4 1,155.8 1,159.3 1,160.3 Supplements to wages and salaries...... 1,486.5 1,499.3 1,509.6 1,513.0 1,518.3 1,524.1 1,529.2 1,534.7 1,538.5 1,540.9 1,540.0 Employer contributions for employee pension and insurance funds......... 1,016.2 1,027.5 1,036.4 1,042.9 1,048.9 1,054.6 1,059.7 1,063.7 1,067.1 1,069.5 1,070.8 Employer contributions for government social insurance.................... 470.3 471.8 473.3 470.1 469.4 469.5 469.5 471.0 471.4 471.4 469.1 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,103.1 1,110.3 1,127.5 1,127.0 1,128.8 1,125.8 1,116.5 1,109.0 1,086.5 1,072.9 1,051.2 Farm................................... 58.2 61.6 61.7 58.6 55.3 51.9 48.3 46.1 45.4 46.1 45.1 Nonfarm................................ 1,044.9 1,048.7 1,065.8 1,068.4 1,073.5 1,073.9 1,068.2 1,062.8 1,041.1 1,026.9 1,006.1 Rental income of persons with capital consumption adjustment.................. 179.8 188.3 198.6 209.2 218.9 227.4 233.6 242.6 254.4 269.3 277.1 Personal income receipts on assets....... 2,187.0 2,211.6 2,216.2 2,207.3 2,201.4 2,200.5 2,207.4 2,201.6 2,183.5 2,119.2 2,057.8 Personal interest income............... 1,358.8 1,373.1 1,384.1 1,397.4 1,404.2 1,406.3 1,418.4 1,422.2 1,419.4 1,372.3 1,333.3 Personal dividend income............... 828.2 838.5 832.1 809.9 797.3 794.2 788.9 779.4 764.1 746.9 724.5 Personal current transfer receipts....... 1,792.4 1,794.4 1,810.0 1,822.2 2,003.7 1,982.4 1,854.0 1,873.1 1,889.5 1,891.6 1,901.0 Government social benefits to persons.. 1,755.9 1,757.5 1,773.0 1,785.5 1,967.1 1,945.8 1,817.4 1,836.4 1,852.7 1,854.7 1,863.9 Social security\1\................... 594.0 594.5 603.5 599.6 604.7 604.3 608.7 608.4 609.5 609.3 611.3 Medicare\2\.......................... 452.0 452.3 452.9 455.9 457.2 458.8 461.7 464.0 466.5 469.4 472.6 Medicaid............................. 330.6 330.3 333.1 335.4 339.4 340.4 341.9 340.9 340.0 339.1 340.6 Unemployment insurance............... 36.4 35.9 37.9 38.3 36.1 39.1 44.9 61.8 67.3 62.0 67.3 Veterans' benefits................... 44.1 44.5 43.9 44.5 44.3 45.3 45.8 44.8 45.6 45.7 45.5 Other................................ 298.8 300.0 301.6 311.8 485.4 457.9 314.4 316.6 323.7 329.1 326.6 Other current transfer receipts, from business (net)........................ 36.6 36.9 37.0 36.7 36.6 36.5 36.6 36.7 36.8 36.9 37.1 Less: Contributions for government social insurance, domestic..................... 986.6 989.8 992.9 987.1 986.1 986.5 986.7 989.5 989.9 990.4 985.9 Less: Personal current taxes............... 1,523.9 1,534.4 1,549.8 1,543.4 1,154.0 1,357.9 1,350.3 1,480.7 1,465.2 1,449.6 1,422.6 Equals: Disposable personal income......... 10,822.3 10,880.7 10,935.7 10,913.2 11,482.6 11,264.1 11,147.5 11,047.4 11,048.7 11,006.6 10,929.8 Less: Personal outlays..................... 10,424.8 10,403.6 10,445.1 10,484.7 10,524.4 10,578.9 10,575.2 10,546.7 10,493.4 10,375.5 10,221.6 Personal consumption expenditures........ 10,014.5 9,997.2 10,043.8 10,081.5 10,121.7 10,176.2 10,171.0 10,143.8 10,092.5 9,992.2 9,847.0 Goods.................................. 3,437.3 3,397.1 3,432.7 3,442.7 3,460.5 3,497.3 3,487.3 3,475.8 3,405.1 3,303.8 3,167.5 Durable goods........................ 1,178.2 1,158.4 1,152.3 1,151.4 1,149.3 1,139.0 1,112.3 1,124.3 1,083.3 1,033.4 1,022.1 Nondurable goods..................... 2,259.1 2,238.6 2,280.4 2,291.3 2,311.3 2,358.3 2,375.1 2,351.5 2,321.8 2,270.4 2,145.4 Services............................... 6,577.3 6,600.2 6,611.0 6,638.8 6,661.2 6,678.9 6,683.7 6,668.0 6,687.4 6,688.4 6,679.5 Personal interest payments\3\............ 260.9 257.4 252.4 251.2 250.6 250.4 249.6 248.2 246.0 235.6 226.5 Personal current transfer payments....... 149.4 149.0 148.9 152.0 152.1 152.3 154.5 154.7 154.9 147.8 148.1 To government.......................... 84.6 84.3 84.1 84.3 84.4 84.6 84.7 84.9 85.1 85.4 85.7 To the rest of the world (net)......... 64.8 64.8 64.8 67.7 67.7 67.7 69.8 69.8 69.8 62.4 62.4 Equals: Personal saving.................... 397.5 477.1 490.6 428.5 958.2 685.2 572.3 500.7 555.3 631.1 708.2 Personal saving as a percentage of disposable personal income.............. 3.7 4.4 4.5 3.9 8.3 6.1 5.1 4.5 5.0 5.7 6.5 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,812.0 9,851.4 9,867.4 9,798.7 9,756.7 9,703.0 9,655.2 9,673.9 9,634.2 9,629.3 9,642.2 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,061.6 10,092.6 10,107.9 10,055.6 10,536.3 10,272.6 10,112.1 10,030.2 10,018.9 10,032.1 10,083.5 Per capita: Current dollars...................... 35,645 35,814 35,971 35,873 37,717 36,971 36,559 36,200 36,174 36,008 35,731 Chained (2005) dollars............... 33,140 33,220 33,248 33,054 34,609 33,716 33,163 32,867 32,802 32,820 32,964 Population (midperiod, thousands)\5\..... 303,609 303,809 304,012 304,220 304,439 304,677 304,921 305,177 305,431 305,670 305,895 ---------------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 1. Personal Income and Its Disposition (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 ---------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,211.5 12,075.7 11,945.2 11,872.2 11,887.2 12,043.9 11,901.2 11,862.5 11,868.5 11,891.4 11,874.9 Compensation of employees, received...... 7,963.6 7,863.9 7,802.1 7,764.1 7,803.3 7,817.3 7,807.1 7,782.7 7,784.2 7,778.6 7,788.1 Wage and salary disbursements.......... 6,428.3 6,331.0 6,273.2 6,237.2 6,273.3 6,285.6 6,275.6 6,252.4 6,253.5 6,248.0 6,256.7 Private industries................... 5,268.0 5,161.9 5,104.6 5,068.1 5,098.9 5,109.5 5,098.3 5,074.7 5,076.2 5,071.7 5,078.7 Goods-producing industries......... 1,155.7 1,122.8 1,105.7 1,084.4 1,075.8 1,061.9 1,054.0 1,047.3 1,045.1 1,040.7 1,039.9 Manufacturing.................... 707.3 687.6 680.4 669.4 669.2 657.8 652.9 648.7 648.4 648.6 653.0 Services-producing industries...... 4,112.3 4,039.2 3,998.8 3,983.7 4,023.1 4,047.7 4,044.3 4,027.4 4,031.1 4,031.0 4,038.8 Trade, transportation, and utilities....................... 1,023.8 1,012.0 1,003.1 991.1 991.2 992.3 985.0 980.0 983.7 985.7 983.4 Other services-producing industries...................... 3,088.5 3,027.2 2,995.7 2,992.7 3,031.8 3,055.4 3,059.3 3,047.4 3,047.4 3,045.3 3,055.4 Government........................... 1,160.3 1,169.1 1,168.6 1,169.1 1,174.4 1,176.1 1,177.3 1,177.8 1,177.3 1,176.3 1,178.0 Supplements to wages and salaries...... 1,535.2 1,532.9 1,528.9 1,526.9 1,530.0 1,531.7 1,531.5 1,530.3 1,530.8 1,530.7 1,531.4 Employer contributions for employee pension and insurance funds......... 1,071.0 1,071.3 1,070.9 1,070.9 1,071.3 1,071.6 1,072.2 1,072.9 1,073.4 1,074.2 1,075.1 Employer contributions for government social insurance.................... 464.2 461.6 458.0 456.1 458.7 460.1 459.4 457.3 457.4 456.5 456.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,016.0 984.8 957.7 938.1 930.7 926.5 923.3 925.3 931.3 931.4 938.0 Farm................................... 42.7 38.7 36.5 36.2 37.8 38.9 39.3 39.3 39.4 39.8 40.4 Nonfarm................................ 973.3 946.1 921.2 901.9 892.9 887.7 884.0 886.0 891.9 891.7 897.6 Rental income of persons with capital consumption adjustment.................. 280.2 276.5 277.6 282.4 291.5 299.9 307.8 315.3 320.0 322.5 322.0 Personal income receipts on assets....... 1,991.2 1,919.8 1,847.4 1,787.5 1,733.5 1,704.9 1,684.0 1,652.0 1,633.3 1,621.7 1,616.6 Personal interest income............... 1,294.3 1,237.2 1,193.8 1,153.9 1,141.9 1,129.3 1,117.7 1,093.6 1,072.4 1,053.2 1,037.7 Personal dividend income............... 696.8 682.6 653.6 633.6 591.6 575.6 566.3 558.5 561.0 568.5 578.8 Personal current transfer receipts....... 1,936.7 2,002.9 2,025.3 2,061.0 2,094.2 2,263.4 2,145.4 2,150.0 2,162.1 2,198.1 2,170.9 Government social benefits to persons.. 1,899.4 1,965.3 1,987.5 2,023.0 2,056.0 2,225.2 2,107.1 2,111.7 2,123.7 2,159.6 2,132.5 Social security\1\................... 618.7 648.0 651.9 655.6 661.8 657.4 668.0 665.1 662.0 676.6 673.1 Medicare\2\.......................... 476.2 479.0 482.6 485.9 489.0 491.8 494.3 496.5 498.5 500.2 501.6 Medicaid............................. 347.0 356.5 361.5 368.2 370.3 372.9 376.7 382.7 384.4 382.2 378.1 Unemployment insurance............... 84.3 91.5 99.7 112.0 117.1 130.3 136.4 139.2 148.6 146.5 142.9 Veterans' benefits................... 46.1 49.9 48.8 50.2 50.2 50.1 51.1 51.3 52.0 52.8 53.1 Other................................ 327.2 340.5 343.0 351.1 367.6 522.6 380.6 376.7 378.2 401.3 383.6 Other current transfer receipts, from business (net)........................ 37.3 37.6 37.8 38.0 38.1 38.2 38.3 38.4 38.4 38.4 38.4 Less: Contributions for government social insurance, domestic..................... 976.1 972.1 965.0 960.9 966.0 968.1 966.5 962.8 962.5 960.9 960.8 Less: Personal current taxes............... 1,396.1 1,228.7 1,198.9 1,166.5 1,124.2 1,120.0 1,116.8 1,119.0 1,121.4 1,121.5 1,121.5 Equals: Disposable personal income......... 10,815.4 10,847.0 10,746.3 10,705.7 10,763.0 10,923.9 10,784.3 10,743.5 10,747.1 10,770.0 10,753.3 Less: Personal outlays..................... 10,111.9 10,171.1 10,169.9 10,124.5 10,122.9 10,144.4 10,193.0 10,230.0 10,349.3 10,276.5 10,326.6 Personal consumption expenditures........ 9,744.8 9,798.5 9,796.2 9,750.5 9,750.3 9,772.6 9,822.0 9,856.1 9,974.9 9,902.3 9,958.0 Goods.................................. 3,073.0 3,129.5 3,149.5 3,113.1 3,110.8 3,138.2 3,181.9 3,206.6 3,304.6 3,225.6 3,245.1 Durable goods........................ 1,002.3 1,033.1 1,022.8 1,004.4 997.6 1,013.2 1,017.7 1,035.3 1,102.8 1,012.2 1,023.4 Nondurable goods..................... 2,070.7 2,096.4 2,126.7 2,108.7 2,113.3 2,125.0 2,164.2 2,171.3 2,201.8 2,213.4 2,221.7 Services............................... 6,671.8 6,669.0 6,646.7 6,637.4 6,639.4 6,634.4 6,640.2 6,649.5 6,670.3 6,676.8 6,712.9 Personal interest payments\3\............ 218.6 220.1 220.7 220.6 218.9 217.5 216.3 216.9 216.8 216.0 208.1 Personal current transfer payments....... 148.5 152.6 153.0 153.5 153.8 154.2 154.7 157.1 157.6 158.1 160.5 To government.......................... 86.1 86.4 86.9 87.3 87.8 88.2 88.7 89.3 89.8 90.3 90.9 To the rest of the world (net)......... 62.4 66.2 66.2 66.2 66.0 66.0 66.0 67.8 67.8 67.8 69.6 Equals: Personal saving.................... 703.5 675.9 576.4 581.2 640.1 779.6 591.3 513.5 397.7 493.5 426.8 Personal saving as a percentage of disposable personal income.............. 6.5 6.2 5.4 5.4 5.9 7.1 5.5 4.8 3.7 4.6 4.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,527.6 9,325.5 9,156.8 9,064.6 9,032.5 9,009.6 8,939.4 8,892.0 8,859.6 8,832.4 8,813.9 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,028.9 10,042.3 9,919.6 9,891.1 9,927.2 10,063.0 9,881.9 9,836.0 9,809.5 9,813.3 9,767.0 Per capita: Current dollars...................... 35,332 35,413 35,062 34,907 35,072 35,572 35,091 34,931 34,914 34,960 34,879 Chained (2005) dollars............... 32,763 32,785 32,365 32,251 32,348 32,768 32,155 31,980 31,868 31,854 31,680 Population (midperiod, thousands)\5\..... 306,106 306,305 306,495 306,688 306,885 307,095 307,323 307,562 307,815 308,068 308,304 ---------------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 1. Personal Income and Its Disposition (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------------------------- Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 ---------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 11,932.7 12,006.9 12,099.7 12,127.7 12,185.8 12,271.9 12,343.8 12,361.2 12,409.2 12,472.8 12,477.7 Compensation of employees, received...... 7,810.9 7,814.2 7,847.8 7,837.7 7,871.9 7,924.5 7,980.5 7,975.0 8,007.7 8,030.0 8,028.9 Wage and salary disbursements.......... 6,277.2 6,280.2 6,297.8 6,287.9 6,319.0 6,367.9 6,418.9 6,412.7 6,442.4 6,461.6 6,459.6 Private industries................... 5,098.8 5,099.0 5,110.7 5,099.8 5,128.4 5,176.1 5,218.4 5,216.0 5,248.3 5,271.8 5,273.9 Goods-producing industries......... 1,042.9 1,040.1 1,040.7 1,030.3 1,039.8 1,051.8 1,066.2 1,057.8 1,066.3 1,072.5 1,072.6 Manufacturing.................... 658.2 657.2 657.4 650.1 658.2 667.5 680.1 673.3 679.8 682.4 684.4 Services-producing industries...... 4,055.9 4,058.8 4,070.0 4,069.5 4,088.6 4,124.3 4,152.2 4,158.3 4,182.0 4,199.3 4,201.3 Trade, transportation, and utilities....................... 983.4 984.6 987.0 985.2 990.0 1,001.1 1,006.5 1,005.9 1,015.1 1,016.9 1,015.8 Other services-producing industries...................... 3,072.5 3,074.2 3,083.0 3,084.3 3,098.6 3,123.2 3,145.7 3,152.3 3,166.9 3,182.4 3,185.5 Government........................... 1,178.4 1,181.2 1,187.1 1,188.0 1,190.7 1,191.8 1,200.5 1,196.7 1,194.1 1,189.8 1,185.7 Supplements to wages and salaries...... 1,533.7 1,534.0 1,550.1 1,549.8 1,552.9 1,556.6 1,561.6 1,562.3 1,565.3 1,568.4 1,569.3 Employer contributions for employee pension and insurance funds......... 1,076.1 1,077.4 1,082.1 1,083.3 1,084.8 1,086.0 1,087.7 1,089.1 1,090.5 1,091.9 1,093.5 Employer contributions for government social insurance.................... 457.6 456.6 468.0 466.5 468.1 470.6 474.0 473.3 474.8 476.5 475.9 Proprietors' income with inventory valuation and capital consumption adjustments............................. 948.0 959.4 969.6 980.2 995.3 1,017.3 1,026.2 1,033.2 1,046.1 1,058.4 1,066.4 Farm................................... 41.3 42.6 44.2 44.9 44.7 43.6 45.0 48.8 55.0 59.1 60.8 Nonfarm................................ 906.6 916.8 925.4 935.2 950.5 973.6 981.2 984.4 991.0 999.3 1,005.6 Rental income of persons with capital consumption adjustment.................. 324.9 330.8 339.2 345.0 348.0 348.4 348.9 350.0 351.2 352.8 354.3 Personal income receipts on assets....... 1,629.6 1,661.6 1,681.6 1,698.2 1,700.2 1,713.6 1,725.1 1,735.0 1,731.1 1,725.0 1,714.0 Personal interest income............... 1,035.8 1,040.4 1,033.5 1,025.9 1,018.9 1,016.3 1,014.0 1,012.2 998.8 984.0 968.9 Personal dividend income............... 593.9 621.2 648.1 672.2 681.3 697.3 711.1 722.9 732.3 741.0 745.1 Personal current transfer receipts....... 2,182.0 2,201.8 2,238.4 2,240.8 2,247.2 2,250.2 2,251.2 2,254.8 2,263.0 2,299.2 2,305.9 Government social benefits to persons.. 2,143.7 2,163.6 2,200.3 2,202.8 2,209.3 2,212.4 2,213.3 2,216.7 2,224.8 2,261.3 2,268.2 Social security\1\................... 671.5 682.5 676.9 678.1 680.8 687.9 688.8 688.1 693.1 691.3 697.3 Medicare\2\.......................... 502.8 503.7 504.3 505.4 506.9 508.9 511.3 514.2 517.5 521.2 525.4 Medicaid............................. 377.3 378.7 384.3 387.2 388.4 389.1 388.9 391.4 396.5 403.9 415.3 Unemployment insurance............... 150.9 152.2 158.1 152.5 147.6 142.1 137.2 132.9 127.2 146.5 133.8 Veterans' benefits................... 54.0 54.1 54.9 55.9 56.4 56.6 57.6 57.7 58.3 59.4 59.3 Other................................ 387.1 392.4 421.8 423.7 429.1 427.8 429.6 432.4 432.2 438.9 437.2 Other current transfer receipts, from business (net)........................ 38.4 38.3 38.1 38.0 37.9 37.8 38.0 38.1 38.2 38.0 37.6 Less: Contributions for government social insurance, domestic..................... 962.7 961.0 977.0 974.1 976.9 982.1 988.2 986.8 989.8 992.7 991.9 Less: Personal current taxes............... 1,126.8 1,131.0 1,141.7 1,144.5 1,153.2 1,163.8 1,177.7 1,184.6 1,200.7 1,214.3 1,223.4 Equals: Disposable personal income......... 10,805.9 10,875.9 10,958.0 10,983.3 11,032.6 11,108.1 11,166.0 11,176.6 11,208.5 11,258.5 11,254.2 Less: Personal outlays..................... 10,338.7 10,388.4 10,410.7 10,453.0 10,507.8 10,513.6 10,535.8 10,531.5 10,568.5 10,624.7 10,651.2 Personal consumption expenditures........ 9,977.5 10,034.6 10,054.6 10,098.8 10,157.6 10,169.1 10,194.6 10,190.6 10,227.9 10,286.3 10,315.6 Goods.................................. 3,273.4 3,291.4 3,311.6 3,332.8 3,369.9 3,354.0 3,338.6 3,327.5 3,349.1 3,392.0 3,418.4 Durable goods........................ 1,043.5 1,049.6 1,042.1 1,049.7 1,082.2 1,074.7 1,073.0 1,067.4 1,080.2 1,082.8 1,099.4 Nondurable goods..................... 2,229.9 2,241.8 2,269.5 2,283.1 2,287.7 2,279.3 2,265.6 2,260.1 2,268.8 2,309.1 2,318.9 Services............................... 6,704.1 6,743.2 6,743.0 6,766.1 6,787.7 6,815.1 6,856.0 6,863.1 6,878.8 6,894.3 6,897.2 Personal interest payments\3\............ 200.1 192.1 191.5 188.9 184.4 177.1 173.4 172.8 170.8 168.3 165.2 Personal current transfer payments....... 161.1 161.7 164.6 165.2 165.8 167.3 167.8 168.2 169.8 170.1 170.4 To government.......................... 91.5 92.1 92.8 93.4 93.9 94.4 94.8 95.2 95.6 95.9 96.1 To the rest of the world (net)......... 69.6 69.6 71.9 71.9 71.9 72.9 72.9 72.9 74.3 74.3 74.3 Equals: Personal saving.................... 467.2 487.6 547.3 530.2 524.8 594.5 630.2 645.1 640.0 633.9 603.0 Personal saving as a percentage of disposable personal income.............. 4.3 4.5 5.0 4.8 4.8 5.4 5.6 5.8 5.7 5.6 5.4 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 8,839.1 8,883.3 8,912.1 8,927.7 8,960.2 9,031.8 9,100.3 9,127.7 9,143.1 9,153.0 9,140.9 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,795.6 9,853.4 9,903.3 9,917.7 9,946.6 10,010.9 10,068.3 10,094.2 10,100.4 10,129.1 10,113.6 Per capita: Current dollars...................... 35,024 35,228 35,471 35,531 35,668 35,889 36,052 36,060 36,135 36,266 36,223 Chained (2005) dollars............... 31,750 31,916 32,057 32,084 32,157 32,345 32,508 32,568 32,563 32,628 32,552 Population (midperiod, thousands)\5\..... 308,526 308,733 308,930 309,119 309,312 309,509 309,718 309,946 310,185 310,439 310,691 ---------------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 1. Personal Income and Its Disposition (Months)--Table Ends [Billions of dollars; months seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------- Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ---------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,546.0 12,561.8 12,625.0 12,769.2 12,832.0 12,887.4 12,940.3 12,963.5 12,982.2 Compensation of employees, received...... 8,054.1 8,041.5 8,056.8 8,113.9 8,156.6 8,188.7 8,218.7 8,236.1 8,235.0 Wage and salary disbursements.......... 6,481.5 6,468.2 6,481.4 6,525.1 6,563.2 6,591.1 6,618.0 6,632.5 6,629.9 Private industries................... 5,292.0 5,280.4 5,293.0 5,334.9 5,372.2 5,399.1 5,425.5 5,440.5 5,438.3 Goods-producing industries......... 1,072.0 1,069.5 1,071.0 1,086.0 1,087.8 1,096.5 1,103.0 1,107.8 1,106.0 Manufacturing.................... 685.4 684.2 687.1 696.4 695.9 703.4 707.0 711.1 709.0 Services-producing industries...... 4,220.0 4,210.8 4,222.0 4,248.9 4,284.4 4,302.6 4,322.5 4,332.6 4,332.3 Trade, transportation, and utilities....................... 1,017.9 1,012.8 1,017.6 1,021.5 1,029.3 1,035.0 1,043.8 1,043.2 1,044.7 Other services-producing industries...................... 3,202.2 3,198.0 3,204.4 3,227.4 3,255.1 3,267.5 3,278.7 3,289.4 3,287.6 Government........................... 1,189.5 1,187.8 1,188.4 1,190.2 1,191.0 1,192.0 1,192.5 1,192.0 1,191.6 Supplements to wages and salaries...... 1,572.5 1,573.3 1,575.4 1,588.7 1,593.4 1,597.6 1,600.8 1,603.6 1,605.1 Employer contributions for employee pension and insurance funds......... 1,095.2 1,096.7 1,098.6 1,100.9 1,103.0 1,105.0 1,106.9 1,108.7 1,110.4 Employer contributions for government social insurance.................... 477.3 476.5 476.8 487.8 490.4 492.5 493.9 494.9 494.6 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,077.8 1,081.0 1,085.7 1,086.6 1,097.1 1,103.1 1,105.2 1,105.8 1,105.0 Farm................................... 60.4 60.1 59.9 63.0 66.1 69.2 68.7 68.2 67.7 Nonfarm................................ 1,017.5 1,021.0 1,025.7 1,023.6 1,031.1 1,033.9 1,036.5 1,037.6 1,037.3 Rental income of persons with capital consumption adjustment.................. 354.8 354.9 354.7 369.7 384.9 400.3 398.4 397.1 395.9 Personal income receipts on assets....... 1,725.0 1,738.6 1,766.8 1,772.2 1,780.2 1,779.2 1,792.5 1,802.6 1,814.6 Personal interest income............... 977.9 989.3 1,001.5 1,003.1 1,004.7 1,006.4 1,011.1 1,015.8 1,020.5 Personal dividend income............... 747.1 749.3 765.3 769.1 775.4 772.8 781.4 786.9 794.2 Personal current transfer receipts....... 2,329.0 2,338.9 2,355.6 2,331.2 2,322.9 2,330.1 2,342.6 2,341.2 2,350.7 Government social benefits to persons.. 2,289.1 2,299.8 2,316.8 2,291.1 2,284.0 2,290.7 2,303.1 2,301.8 2,311.3 Social security\1\................... 697.5 696.7 705.6 702.8 701.4 705.1 713.1 711.4 712.1 Medicare\2\.......................... 530.1 535.2 540.7 544.3 547.9 551.1 553.2 553.9 554.7 Medicaid............................. 431.1 441.2 447.2 436.5 430.7 429.0 433.4 438.7 440.8 Unemployment insurance............... 133.7 127.8 124.6 121.5 116.4 114.5 110.8 103.1 107.8 Veterans' benefits................... 59.5 58.9 59.6 61.0 60.6 62.4 63.1 61.8 63.6 Other................................ 437.2 440.0 439.0 424.9 427.0 428.6 429.5 432.9 432.4 Other current transfer receipts, from business (net)........................ 39.9 39.1 38.8 40.1 38.9 39.3 39.4 39.4 39.3 Less: Contributions for government social insurance, domestic..................... 994.7 993.2 994.5 904.4 909.8 914.0 917.1 919.3 919.1 Less: Personal current taxes............... 1,235.1 1,239.9 1,247.6 1,351.2 1,364.3 1,374.2 1,381.3 1,386.9 1,389.2 Equals: Disposable personal income......... 11,310.9 11,321.9 11,377.3 11,418.1 11,467.7 11,513.2 11,559.0 11,576.6 11,592.9 Less: Personal outlays..................... 10,710.3 10,749.4 10,786.3 10,828.8 10,908.1 10,969.3 10,989.6 10,994.9 10,972.3 Personal consumption expenditures........ 10,377.4 10,417.7 10,456.1 10,498.0 10,577.7 10,639.2 10,659.6 10,665.5 10,643.6 Goods.................................. 3,466.3 3,481.4 3,502.5 3,546.0 3,603.3 3,627.4 3,646.9 3,623.5 3,603.7 Durable goods........................ 1,123.5 1,123.1 1,127.6 1,139.9 1,162.6 1,161.0 1,157.9 1,143.1 1,138.6 Nondurable goods..................... 2,342.8 2,358.3 2,374.8 2,406.1 2,440.7 2,466.4 2,489.0 2,480.4 2,465.2 Services............................... 6,911.1 6,936.3 6,953.6 6,952.0 6,974.4 7,011.9 7,012.7 7,042.0 7,039.9 Personal interest payments\3\............ 164.1 162.7 161.2 160.8 160.3 159.8 159.0 158.2 157.3 Personal current transfer payments....... 168.8 168.9 169.0 170.0 170.1 170.2 171.0 171.2 171.4 To government.......................... 96.3 96.5 96.6 96.6 96.6 96.7 96.9 97.1 97.3 To the rest of the world (net)......... 72.5 72.5 72.5 73.5 73.5 73.5 74.1 74.1 74.1 Equals: Personal saving.................... 600.6 572.5 591.0 589.3 559.6 543.9 569.4 581.7 620.6 Personal saving as a percentage of disposable personal income.............. 5.3 5.1 5.2 5.2 4.9 4.7 4.9 5.0 5.4 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,161.7 9,159.8 9,178.4 9,295.2 9,321.2 9,327.1 9,332.4 9,338.6 9,362.7 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,142.5 10,144.6 10,168.7 10,167.9 10,171.5 10,171.6 10,178.9 10,177.5 10,209.4 Per capita: Current dollars...................... 36,378 36,387 36,543 36,653 36,791 36,915 37,042 37,076 37,103 Chained (2005) dollars............... 32,620 32,604 32,660 32,640 32,633 32,613 32,619 32,595 32,675 Population (midperiod, thousands)\5\..... 310,927 311,149 311,345 311,521 311,696 311,884 312,049 312,240 312,456 ---------------------------------------------------------------------------------------------------------------------------- p Preliminary 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters)--Continues [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 I 08 II 08 III 08 IV 08 ------------------------------------------------------------------------------------------------------------------- Personal income............................ 11,912.3 12,460.2 11,930.2 12,373.5 12,415.6 12,571.7 12,513.3 12,340.0 Compensation of employees, received...... 7,862.2 8,073.3 7,801.4 7,971.4 8,099.0 8,073.4 8,084.7 8,036.1 Wage and salary disbursements.......... 6,421.7 6,550.9 6,270.3 6,408.2 6,600.5 6,554.9 6,550.6 6,497.4 Private industries................... 5,332.7 5,406.8 5,095.0 5,217.4 5,472.9 5,417.1 5,399.6 5,337.4 Goods-producing industries......... 1,213.4 1,207.7 1,063.4 1,059.2 1,232.6 1,218.5 1,201.9 1,177.9 Manufacturing.................... 752.2 740.9 660.9 674.2 755.7 747.6 738.4 721.8 Services-producing industries...... 4,119.3 4,199.0 4,031.7 4,158.2 4,240.4 4,198.6 4,197.7 4,159.5 Trade, transportation, and utilities....................... 1,045.2 1,049.7 989.6 1,006.0 1,063.7 1,053.3 1,047.6 1,034.2 Other services-producing industries...................... 3,074.1 3,149.3 3,042.0 3,152.2 3,176.6 3,145.3 3,150.1 3,125.3 Government........................... 1,089.0 1,144.1 1,175.3 1,190.8 1,127.6 1,137.9 1,151.0 1,160.0 Supplements to wages and salaries...... 1,440.4 1,522.5 1,531.1 1,563.1 1,498.5 1,518.5 1,534.1 1,538.7 Employer contributions for employee pension and insurance funds......... 980.5 1,052.4 1,073.1 1,089.9 1,026.7 1,048.8 1,063.5 1,070.5 Employer contributions for government social insurance.................... 459.9 470.1 458.0 473.2 471.8 469.7 470.6 468.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,090.4 1,097.9 941.2 1,036.4 1,113.7 1,127.2 1,104.0 1,046.7 Farm................................... 37.8 51.8 39.2 52.2 60.5 55.3 46.6 44.6 Nonfarm................................ 1,052.6 1,046.1 902.0 984.2 1,053.1 1,071.9 1,057.4 1,002.1 Rental income of persons with capital consumption adjustment.................. 143.7 231.6 305.9 350.2 188.9 218.5 243.5 275.6 Personal income receipts on assets....... 2,057.0 2,165.4 1,707.7 1,721.2 2,205.0 2,203.1 2,197.5 2,056.0 Personal interest income............... 1,265.1 1,382.0 1,108.9 1,003.4 1,372.0 1,402.7 1,420.0 1,333.3 Personal dividend income............... 791.9 783.4 598.8 717.7 832.9 800.4 777.5 722.8 Personal current transfer receipts....... 1,718.5 1,879.2 2,138.1 2,281.2 1,798.9 1,936.1 1,872.2 1,909.7 Government social benefits to persons.. 1,687.9 1,842.4 2,099.9 2,242.9 1,762.1 1,899.5 1,835.5 1,872.7 Social security\1\................... 575.6 605.5 664.5 690.2 597.3 602.9 608.9 613.1 Medicare\2\.......................... 427.6 461.6 493.8 518.4 452.4 457.3 464.1 472.8 Medicaid............................. 324.1 338.2 374.1 405.4 331.4 338.4 340.9 342.2 Unemployment insurance............... 32.7 50.9 130.6 138.7 36.7 37.8 58.0 71.2 Veterans' benefits................... 41.7 45.0 51.5 57.9 44.1 44.7 45.4 45.8 Other................................ 286.2 341.1 385.4 432.4 300.1 418.4 318.2 327.6 Other current transfer receipts, from business (net)........................ 30.5 36.8 38.2 38.3 36.8 36.6 36.7 37.1 Less: Contributions for government social insurance, domestic..................... 959.5 987.3 964.1 986.8 989.8 986.6 988.7 984.2 Less: Personal current taxes............... 1,488.7 1,435.7 1,141.4 1,193.9 1,536.0 1,351.8 1,432.1 1,422.8 Equals: Disposable personal income......... 10,423.6 11,024.5 10,788.8 11,179.7 10,879.6 11,220.0 11,081.2 10,917.3 Less: Personal outlays..................... 10,174.9 10,432.2 10,236.3 10,586.9 10,424.5 10,529.4 10,538.4 10,236.3 Personal consumption expenditures........ 9,772.3 10,035.5 9,866.1 10,245.5 10,018.5 10,126.5 10,135.8 9,861.3 Goods.................................. 3,363.9 3,381.7 3,197.5 3,387.0 3,422.3 3,466.9 3,456.1 3,181.4 Durable goods........................ 1,188.4 1,108.9 1,029.6 1,085.5 1,163.0 1,146.6 1,106.6 1,019.3 Nondurable goods..................... 2,175.5 2,272.8 2,167.8 2,301.5 2,259.4 2,320.3 2,349.4 2,162.2 Services............................... 6,408.3 6,653.8 6,668.7 6,858.5 6,596.2 6,659.6 6,679.7 6,679.9 Personal interest payments\3\............ 260.9 245.6 213.7 173.4 256.9 250.7 247.9 226.9 Personal current transfer payments....... 141.7 151.0 156.5 168.0 149.1 152.1 154.7 148.1 To government.......................... 82.4 84.9 89.1 95.1 84.3 84.4 84.9 85.7 To the rest of the world (net)......... 59.3 66.2 67.4 72.9 64.8 67.7 69.8 62.4 Equals: Personal saving.................... 248.7 592.3 552.6 592.8 455.0 690.6 542.8 680.9 Personal saving as a percentage of disposable personal income.............. 2.4 5.4 5.1 5.3 4.2 6.2 4.9 6.2 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,662.5 9,712.3 8,969.7 9,083.0 9,843.7 9,752.6 9,654.4 9,599.7 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,880.3 10,119.5 9,882.7 10,061.6 10,087.4 10,288.5 10,053.7 10,047.9 Per capita: Current dollars...................... 34,512 36,166 35,088 36,051 35,810 36,854 36,311 35,690 Chained (2005) dollars............... 32,713 33,197 32,141 32,446 33,203 33,794 32,944 32,848 Population (midperiod, thousands)\5\..... 302,025 304,831 307,483 310,106 303,810 304,445 305,177 305,890 ------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 2. Personal Income and Its Disposition (Years and Quarters)--Table Ends [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------- I 09 II 09 III 09 IV 09 I 10 II 10 III 10 IV 10 I 11 II 11 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 11,964.4 11,944.1 11,874.1 11,938.2 12,137.7 12,325.6 12,453.2 12,577.6 12,829.5 12,962.0 Compensation of employees, received...... 7,810.1 7,809.2 7,781.9 7,804.4 7,852.5 7,960.0 8,022.2 8,050.8 8,153.1 8,230.0 Wage and salary disbursements.......... 6,280.5 6,278.2 6,251.3 6,271.4 6,301.6 6,399.8 6,454.5 6,477.0 6,559.8 6,626.8 Private industries................... 5,111.5 5,102.2 5,074.2 5,092.2 5,113.0 5,203.5 5,264.7 5,288.4 5,368.7 5,434.7 Goods-producing industries......... 1,104.3 1,063.9 1,044.3 1,041.0 1,036.9 1,058.6 1,070.5 1,070.8 1,090.1 1,105.6 Manufacturing.................... 679.1 660.0 648.5 656.1 655.3 673.6 682.2 685.5 698.5 709.0 Services-producing industries...... 4,007.2 4,038.3 4,029.8 4,051.2 4,076.0 4,144.9 4,194.2 4,217.6 4,278.6 4,329.1 Trade, transportation, and utilities....................... 1,002.0 989.5 983.1 983.8 987.4 1,004.5 1,015.9 1,016.1 1,028.6 1,043.9 Other services-producing industries...................... 3,005.2 3,048.9 3,046.7 3,067.4 3,088.7 3,140.4 3,178.3 3,201.5 3,250.0 3,285.2 Government........................... 1,168.9 1,175.9 1,177.1 1,179.2 1,188.6 1,196.3 1,189.9 1,188.6 1,191.1 1,192.1 Supplements to wages and salaries...... 1,529.6 1,531.1 1,530.6 1,533.0 1,550.9 1,560.2 1,567.7 1,573.7 1,593.2 1,603.2 Employer contributions for employee pension and insurance funds......... 1,071.0 1,071.7 1,073.5 1,076.2 1,083.4 1,087.6 1,092.0 1,096.8 1,103.0 1,108.7 Employer contributions for government social insurance.................... 458.6 459.4 457.1 456.8 467.5 472.6 475.7 476.9 490.2 494.5 Proprietors' income with inventory valuation and capital consumption adjustments............................. 960.2 926.9 929.3 948.5 981.7 1,025.6 1,057.0 1,081.5 1,095.6 1,105.3 Farm................................... 37.1 38.7 39.5 41.4 44.6 45.8 58.3 60.1 66.1 68.2 Nonfarm................................ 923.1 888.2 889.9 907.0 937.1 979.7 998.7 1,021.4 1,029.5 1,037.2 Rental income of persons with capital consumption adjustment.................. 278.8 299.7 319.3 325.9 344.1 349.1 352.8 354.8 385.0 397.1 Personal income receipts on assets....... 1,851.5 1,707.5 1,635.7 1,636.0 1,693.3 1,724.5 1,723.4 1,743.5 1,777.2 1,803.2 Personal interest income............... 1,194.9 1,129.7 1,073.1 1,038.0 1,026.1 1,014.1 983.9 989.6 1,004.7 1,015.8 Personal dividend income............... 656.6 577.8 562.6 598.0 667.2 710.4 739.4 753.9 772.5 787.5 Personal current transfer receipts....... 2,029.8 2,167.7 2,170.1 2,184.9 2,242.1 2,252.1 2,289.4 2,341.2 2,328.1 2,344.8 Government social benefits to persons.. 1,992.0 2,129.4 2,131.7 2,146.6 2,204.1 2,214.1 2,251.4 2,301.9 2,288.6 2,305.4 Social security\1\................... 651.8 662.4 667.9 675.7 678.6 688.3 693.9 699.9 703.1 712.2 Medicare\2\.......................... 482.5 491.7 498.4 502.7 505.6 511.5 521.4 535.3 547.8 553.9 Medicaid............................. 362.0 373.3 383.1 378.0 386.6 389.8 405.2 439.8 432.1 437.6 Unemployment insurance............... 101.1 127.9 144.8 148.7 152.8 137.4 135.8 128.7 117.5 107.3 Veterans' benefits................... 49.6 50.5 52.1 53.8 55.8 57.3 59.0 59.4 61.3 62.8 Other................................ 344.9 423.6 385.4 387.7 424.8 429.9 436.1 438.7 426.9 431.6 Other current transfer receipts, from business (net)........................ 37.8 38.2 38.4 38.3 38.0 38.0 37.9 39.3 39.5 39.4 Less: Contributions for government social insurance, domestic..................... 966.0 966.9 962.1 961.5 976.0 985.7 991.5 994.1 909.4 918.5 Less: Personal current taxes............... 1,198.0 1,120.3 1,120.6 1,126.4 1,146.4 1,175.4 1,212.8 1,240.9 1,363.2 1,385.8 Equals: Disposable personal income......... 10,766.3 10,823.8 10,753.5 10,811.7 10,991.3 11,150.2 11,240.4 11,336.7 11,466.3 11,576.2 Less: Personal outlays..................... 10,155.2 10,153.4 10,285.3 10,351.2 10,457.2 10,527.0 10,614.8 10,748.6 10,902.1 10,985.6 Personal consumption expenditures........ 9,781.7 9,781.6 9,911.1 9,990.0 10,103.7 10,184.8 10,276.6 10,417.1 10,571.7 10,656.2 Goods.................................. 3,130.7 3,143.6 3,245.6 3,270.0 3,338.1 3,340.1 3,386.5 3,483.4 3,592.2 3,624.7 Durable goods........................ 1,020.1 1,009.5 1,050.1 1,038.8 1,058.0 1,071.7 1,087.5 1,124.7 1,154.5 1,146.5 Nondurable goods..................... 2,110.6 2,134.1 2,195.5 2,231.1 2,280.1 2,268.3 2,299.0 2,358.7 2,437.8 2,478.2 Services............................... 6,651.0 6,638.0 6,665.5 6,720.1 6,765.6 6,844.7 6,890.1 6,933.7 6,979.4 7,031.5 Personal interest payments\3\............ 220.5 217.6 216.6 200.1 188.3 174.4 168.1 162.7 160.3 158.2 Personal current transfer payments....... 153.0 154.2 157.6 161.1 165.2 167.8 170.1 168.9 170.1 171.2 To government.......................... 86.9 88.3 89.8 91.5 93.4 94.8 95.8 96.5 96.6 97.1 To the rest of the world (net)......... 66.2 66.0 67.8 69.6 71.9 72.9 74.3 72.5 73.5 74.1 Equals: Personal saving.................... 611.1 670.3 468.2 460.5 534.1 623.3 625.6 588.1 564.3 590.6 Personal saving as a percentage of disposable personal income.............. 5.7 6.2 4.4 4.3 4.9 5.6 5.6 5.2 4.9 5.1 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,182.2 8,993.8 8,861.3 8,845.5 8,933.4 9,086.5 9,145.7 9,166.7 9,314.4 9,344.5 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,951.0 9,957.3 9,819.6 9,805.4 9,922.5 10,057.8 10,114.4 10,152.0 10,170.2 10,188.6 Per capita: Current dollars...................... 35,127 35,245 34,935 35,044 35,557 36,001 36,208 36,436 36,786 37,074 Chained (2005) dollars............... 32,467 32,423 31,901 31,782 32,099 32,473 32,581 32,628 32,628 32,630 Population (midperiod, thousands)\5\..... 306,496 307,101 307,815 308,521 309,120 309,724 310,438 311,140 311,700 312,248 ------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. The monthly estimate is the average of estimates for the first of the month and the first of the following month; the annual and quarterly estimates are averages of the monthly estimates. Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 119.0 68.9 70.4 -28.9 180.0 -14.7 -124.1 30.3 -14.2 -57.7 -103.8 -140.9 -135.8 -130.5 Compensation of employees, received...... 28.2 29.8 25.8 -48.1 -8.1 2.4 .7 18.3 -1.3 3.7 -42.6 -87.5 -99.7 -61.8 Wage and salary disbursements.......... 12.7 17.0 15.5 -51.5 -13.4 -3.4 -4.5 12.9 -5.1 1.3 -41.7 -82.8 -97.3 -57.8 Private industries................... .1 10.3 11.7 -54.0 -15.8 -7.5 -8.9 7.3 -9.5 -2.3 -42.5 -82.9 -106.1 -57.3 Goods-producing industries......... -6.0 -3.5 10.5 -17.4 -3.5 -.6 -9.8 -2.2 -11.0 -.1 -9.6 -28.5 -32.9 -17.1 Manufacturing.................... -7.6 -2.6 4.4 -10.3 -1.0 2.1 -5.6 -3.2 -7.4 .6 -7.7 -18.0 -19.7 -7.2 Services-producing industries...... 6.1 13.8 1.1 -36.6 -12.3 -6.9 .9 9.6 1.4 -2.2 -32.9 -54.4 -73.1 -40.4 Trade, transportation, and utilities....................... .2 4.5 .2 -9.0 -4.6 -.1 -3.8 -.8 .7 -3.8 -9.1 -11.1 -11.8 -8.9 Other services-producing industries...................... 6.0 9.3 1.0 -27.7 -7.7 -6.8 4.7 10.4 .7 1.6 -23.9 -43.2 -61.3 -31.5 Government........................... 12.6 6.7 3.7 2.6 2.4 4.1 4.4 5.6 4.4 3.5 1.0 .0 8.8 -.5 Supplements to wages and salaries...... 15.5 12.8 10.3 3.4 5.3 5.8 5.1 5.5 3.8 2.4 -.9 -4.8 -2.3 -4.0 Employer contributions for employee pension and insurance funds......... 13.9 11.3 8.9 6.5 6.0 5.7 5.1 4.0 3.4 2.4 1.3 .2 .3 -.4 Employer contributions for government social insurance.................... 1.6 1.5 1.5 -3.2 -.7 .1 .0 1.5 .4 .0 -2.3 -4.9 -2.6 -3.6 Proprietors' income with inventory valuation and capital consumption adjustments............................. 3.4 7.2 17.2 -.5 1.8 -3.0 -9.3 -7.5 -22.5 -13.6 -21.7 -35.2 -31.2 -27.1 Farm................................... 6.6 3.4 .1 -3.1 -3.3 -3.4 -3.6 -2.2 -.7 .7 -1.0 -2.4 -4.0 -2.2 Nonfarm................................ -3.2 3.8 17.1 2.6 5.1 .4 -5.7 -5.4 -21.7 -14.2 -20.8 -32.8 -27.2 -24.9 Rental income of persons with capital consumption adjustment.................. 8.0 8.5 10.3 10.6 9.7 8.5 6.2 9.0 11.8 14.9 7.8 3.1 -3.7 1.1 Personal income receipts on assets....... 66.6 24.6 4.6 -8.9 -5.9 -.9 6.9 -5.8 -18.1 -64.3 -61.4 -66.6 -71.4 -72.4 Personal interest income............... 41.5 14.3 11.0 13.3 6.8 2.1 12.1 3.8 -2.8 -47.1 -39.0 -39.0 -57.1 -43.4 Personal dividend income............... 25.1 10.3 -6.4 -22.2 -12.6 -3.1 -5.3 -9.5 -15.3 -17.2 -22.4 -27.7 -14.2 -29.0 Personal current transfer receipts....... 21.1 2.0 15.6 12.2 181.5 -21.3 -128.4 19.1 16.4 2.1 9.4 35.7 66.2 22.4 Government social benefits to persons.. 19.1 1.6 15.5 12.5 181.6 -21.3 -128.4 19.0 16.3 2.0 9.2 35.5 65.9 22.2 Social security\1\................... 4.8 .5 9.0 -3.9 5.1 -.4 4.4 -.3 1.1 -.2 2.0 7.4 29.3 3.9 Medicare\2\.......................... 11.8 .3 .6 3.0 1.3 1.6 2.9 2.3 2.5 2.9 3.2 3.6 2.8 3.6 Medicaid............................. -2.7 -.3 2.8 2.3 4.0 1.0 1.5 -1.0 -.9 -.9 1.5 6.4 9.5 5.0 Unemployment insurance............... -.6 -.5 2.0 .4 -2.2 3.0 5.8 16.9 5.5 -5.3 5.3 17.0 7.2 8.2 Veterans' benefits................... 1.4 .4 -.6 .6 -.2 1.0 .5 -1.0 .8 .1 -.2 .6 3.8 -1.1 Other................................ 4.3 1.2 1.6 10.2 173.6 -27.5 -143.5 2.2 7.1 5.4 -2.5 .6 13.3 2.5 Other current transfer receipts, from business (net)........................ 2.1 .3 .1 -.3 -.1 -.1 .1 .1 .1 .1 .2 .2 .3 .2 Less: Contributions for government social insurance, domestic..................... 8.3 3.2 3.1 -5.8 -1.0 .4 .2 2.8 .4 .5 -4.5 -9.8 -4.0 -7.1 Less: Personal current taxes............... -6.3 10.5 15.4 -6.4 -389.4 203.9 -7.6 130.4 -15.5 -15.6 -27.0 -26.5 -167.4 -29.8 Equals: Disposable personal income......... 125.3 58.4 55.0 -22.5 569.4 -218.5 -116.6 -100.1 1.3 -42.1 -76.8 -114.4 31.6 -100.7 Less: Personal outlays..................... 11.1 -21.2 41.5 39.6 39.7 54.5 -3.7 -28.5 -53.3 -117.9 -153.9 -109.7 59.2 -1.2 Personal consumption expenditures........ 11.3 -17.3 46.6 37.7 40.2 54.5 -5.2 -27.2 -51.3 -100.3 -145.2 -102.2 53.7 -2.3 Goods.................................. -14.7 -40.2 35.6 10.0 17.8 36.8 -10.0 -11.5 -70.7 -101.3 -136.3 -94.5 56.5 20.0 Durable goods........................ -10.5 -19.8 -6.1 -.9 -2.1 -10.3 -26.7 12.0 -41.0 -49.9 -11.3 -19.8 30.8 -10.3 Nondurable goods..................... -4.2 -20.5 41.8 10.9 20.0 47.0 16.8 -23.6 -29.7 -51.4 -125.0 -74.7 25.7 30.3 Services............................... 26.1 22.9 10.8 27.8 22.4 17.7 4.8 -15.7 19.4 1.0 -8.9 -7.7 -2.8 -22.3 Personal interest payments\3\............ -2.8 -3.5 -5.0 -1.2 -.6 -.2 -.8 -1.4 -2.2 -10.4 -9.1 -7.9 1.5 .6 Personal current transfer payments....... 2.6 -.4 -.1 3.1 .1 .2 2.2 .2 .2 -7.1 .3 .4 4.1 .4 To government.......................... -1.0 -.3 -.2 .2 .1 .2 .1 .2 .2 .3 .3 .4 .3 .5 To the rest of the world (net)......... 3.6 .0 .0 2.9 .0 .0 2.1 .0 .0 -7.4 .0 .0 3.8 .0 Equals: Personal saving.................... 114.2 79.6 13.5 -62.1 529.7 -273.0 -112.9 -71.6 54.6 75.8 77.1 -4.7 -27.6 -99.5 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 62.1 39.4 16.0 -68.7 -42.0 -53.7 -47.8 18.7 -39.7 -4.9 12.9 -114.6 -202.1 -168.7 Disposable personal income, billions of chained (2005) dollars\4\............ 86.9 31.0 15.3 -52.3 480.7 -263.7 -160.5 -81.9 -11.3 13.2 51.4 -54.6 13.4 -122.7 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ -73.0 15.0 156.7 -142.7 -38.7 6.0 22.9 -16.5 57.8 74.2 92.8 28.0 58.1 86.1 Compensation of employees, received...... -38.0 39.2 14.0 -10.2 -24.4 1.5 -5.6 9.5 22.8 3.3 33.6 -10.1 34.2 52.6 Wage and salary disbursements.......... -36.0 36.1 12.3 -10.0 -23.2 1.1 -5.5 8.7 20.5 3.0 17.6 -9.9 31.1 48.9 Private industries................... -36.5 30.8 10.6 -11.2 -23.6 1.5 -4.5 7.0 20.1 .2 11.7 -10.9 28.6 47.7 Goods-producing industries......... -21.3 -8.6 -13.9 -7.9 -6.7 -2.2 -4.4 -.8 3.0 -2.8 .6 -10.4 9.5 12.0 Manufacturing.................... -11.0 -.2 -11.4 -4.9 -4.2 -.3 .2 4.4 5.2 -1.0 .2 -7.3 8.1 9.3 Services-producing industries...... -15.1 39.4 24.6 -3.4 -16.9 3.7 -.1 7.8 17.1 2.9 11.2 -.5 19.1 35.7 Trade, transportation, and utilities....................... -12.0 .1 1.1 -7.3 -5.0 3.7 2.0 -2.3 .0 1.2 2.4 -1.8 4.8 11.1 Other services-producing industries...................... -3.0 39.1 23.6 3.9 -11.9 .0 -2.1 10.1 17.1 1.7 8.8 1.3 14.3 24.6 Government........................... .5 5.3 1.7 1.2 .5 -.5 -1.0 1.7 .4 2.8 5.9 .9 2.7 1.1 Supplements to wages and salaries...... -2.0 3.1 1.7 -.2 -1.2 .5 -.1 .7 2.3 .3 16.1 -.3 3.1 3.7 Employer contributions for employee pension and insurance funds......... .0 .4 .3 .6 .7 .5 .8 .9 1.0 1.3 4.7 1.2 1.5 1.2 Employer contributions for government social insurance.................... -1.9 2.6 1.4 -.7 -2.1 .1 -.9 -.2 1.3 -1.0 11.4 -1.5 1.6 2.5 Proprietors' income with inventory valuation and capital consumption adjustments............................. -19.6 -7.4 -4.2 -3.2 2.0 6.0 .1 6.6 10.0 11.4 10.2 10.6 15.1 22.0 Farm................................... -.3 1.6 1.1 .4 .0 .1 .4 .6 .9 1.3 1.6 .7 -.2 -1.1 Nonfarm................................ -19.3 -9.0 -5.2 -3.7 2.0 5.9 -.2 5.9 9.0 10.2 8.6 9.8 15.3 23.1 Rental income of persons with capital consumption adjustment.................. 4.8 9.1 8.4 7.9 7.5 4.7 2.5 -.5 2.9 5.9 8.4 5.8 3.0 .4 Personal income receipts on assets....... -59.9 -54.0 -28.6 -20.9 -32.0 -18.7 -11.6 -5.1 13.0 32.0 20.0 16.6 2.0 13.4 Personal interest income............... -39.9 -12.0 -12.6 -11.6 -24.1 -21.2 -19.2 -15.5 -1.9 4.6 -6.9 -7.6 -7.0 -2.6 Personal dividend income............... -20.0 -42.0 -16.0 -9.3 -7.8 2.5 7.5 10.3 15.1 27.3 26.9 24.1 9.1 16.0 Personal current transfer receipts....... 35.7 33.2 169.2 -118.0 4.6 12.1 36.0 -27.2 11.1 19.8 36.6 2.4 6.4 3.0 Government social benefits to persons.. 35.5 33.0 169.2 -118.1 4.6 12.0 35.9 -27.1 11.2 19.9 36.7 2.5 6.5 3.1 Social security\1\................... 3.7 6.2 -4.4 10.6 -2.9 -3.1 14.6 -3.5 -1.6 11.0 -5.6 1.2 2.7 7.1 Medicare\2\.......................... 3.3 3.1 2.8 2.5 2.2 2.0 1.7 1.4 1.2 .9 .6 1.1 1.5 2.0 Medicaid............................. 6.7 2.1 2.6 3.8 6.0 1.7 -2.2 -4.1 -.8 1.4 5.6 2.9 1.2 .7 Unemployment insurance............... 12.3 5.1 13.2 6.1 2.8 9.4 -2.1 -3.6 8.0 1.3 5.9 -5.6 -4.9 -5.5 Veterans' benefits................... 1.4 .0 -.1 1.0 .2 .7 .8 .3 .9 .1 .8 1.0 .5 .2 Other................................ 8.1 16.5 155.0 -142.0 -3.9 1.5 23.1 -17.7 3.5 5.3 29.4 1.9 5.4 -1.3 Other current transfer receipts, from business (net)........................ .2 .1 .1 .1 .1 .0 .0 .0 .0 -.1 -.2 -.1 -.1 -.1 Less: Contributions for government social insurance, domestic..................... -4.1 5.1 2.1 -1.6 -3.7 -.3 -1.6 -.1 1.9 -1.7 16.0 -2.9 2.8 5.2 Less: Personal current taxes............... -32.4 -42.3 -4.2 -3.2 2.2 2.4 .1 .0 5.3 4.2 10.7 2.8 8.7 10.6 Equals: Disposable personal income......... -40.6 57.3 160.9 -139.6 -40.8 3.6 22.9 -16.7 52.6 70.0 82.1 25.3 49.3 75.5 Less: Personal outlays..................... -45.4 -1.6 21.5 48.6 37.0 119.3 -72.8 50.1 12.1 49.7 22.3 42.3 54.8 5.8 Personal consumption expenditures........ -45.7 -.2 22.3 49.4 34.1 118.8 -72.6 55.7 19.5 57.1 20.0 44.2 58.8 11.5 Goods.................................. -36.4 -2.3 27.4 43.7 24.7 98.0 -79.0 19.5 28.3 18.0 20.2 21.2 37.1 -15.9 Durable goods........................ -18.4 -6.8 15.6 4.5 17.6 67.5 -90.6 11.2 20.1 6.1 -7.5 7.6 32.5 -7.5 Nondurable goods..................... -18.0 4.6 11.7 39.2 7.1 30.5 11.6 8.3 8.2 11.9 27.7 13.6 4.6 -8.4 Services............................... -9.3 2.0 -5.0 5.8 9.3 20.8 6.5 36.1 -8.8 39.1 -.2 23.1 21.6 27.4 Personal interest payments\3\............ -.1 -1.7 -1.4 -1.2 .6 -.1 -.8 -7.9 -8.0 -8.0 -.6 -2.6 -4.5 -7.3 Personal current transfer payments....... .5 .3 .4 .5 2.4 .5 .5 2.4 .6 .6 2.9 .6 .6 1.5 To government.......................... .4 .5 .4 .5 .6 .5 .5 .6 .6 .6 .7 .6 .5 .5 To the rest of the world (net)......... .0 -.2 .0 .0 1.8 .0 .0 1.8 .0 .0 2.3 .0 .0 1.0 Equals: Personal saving.................... 4.8 58.9 139.5 -188.3 -77.8 -115.8 95.8 -66.7 40.4 20.4 59.7 -17.1 -5.4 69.7 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... -92.2 -32.1 -22.9 -70.2 -47.4 -32.4 -27.2 -18.5 25.2 44.2 28.8 15.6 32.5 71.6 Disposable personal income, billions of chained (2005) dollars\4\............ -28.5 36.1 135.8 -181.1 -45.9 -26.5 3.8 -46.3 28.6 57.8 49.9 14.4 28.9 64.3 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)--Table Ends [Billions of dollars; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 71.9 17.4 48.0 63.6 4.9 68.3 15.8 63.2 144.2 62.8 55.4 52.9 23.2 18.7 Compensation of employees, received...... 56.0 -5.5 32.7 22.3 -1.1 25.2 -12.6 15.3 57.1 42.7 32.1 30.0 17.4 -1.1 Wage and salary disbursements.......... 51.0 -6.2 29.7 19.2 -2.0 21.9 -13.3 13.2 43.7 38.1 27.9 26.9 14.5 -2.6 Private industries................... 42.3 -2.4 32.3 23.5 2.1 18.1 -11.6 12.6 41.9 37.3 26.9 26.4 15.0 -2.2 Goods-producing industries......... 14.4 -8.4 8.5 6.2 .1 -.6 -2.5 1.5 15.0 1.8 8.7 6.5 4.8 -1.8 Manufacturing.................... 12.6 -6.8 6.5 2.6 2.0 1.0 -1.2 2.9 9.3 -.5 7.5 3.6 4.1 -2.1 Services-producing industries...... 27.9 6.1 23.7 17.3 2.0 18.7 -9.2 11.2 26.9 35.5 18.2 19.9 10.1 -.3 Trade, transportation, and utilities....................... 5.4 -.6 9.2 1.8 -1.1 2.1 -5.1 4.8 3.9 7.8 5.7 8.8 -.6 1.5 Other services-producing industries...................... 22.5 6.6 14.6 15.5 3.1 16.7 -4.2 6.4 23.0 27.7 12.4 11.2 10.7 -1.8 Government........................... 8.7 -3.8 -2.6 -4.3 -4.1 3.8 -1.7 .6 1.8 .8 1.0 .5 -.5 -.4 Supplements to wages and salaries...... 5.0 .7 3.0 3.1 .9 3.2 .8 2.1 13.3 4.7 4.2 3.2 2.8 1.5 Employer contributions for employee pension and insurance funds......... 1.7 1.4 1.4 1.4 1.6 1.7 1.5 1.9 2.3 2.1 2.0 1.9 1.8 1.7 Employer contributions for government social insurance.................... 3.4 -.7 1.5 1.7 -.6 1.4 -.8 .3 11.0 2.6 2.1 1.4 1.0 -.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 8.9 7.0 12.9 12.3 8.0 11.4 3.2 4.7 .9 10.5 6.0 2.1 .6 -.8 Farm................................... 1.4 3.8 6.2 4.1 1.7 -.4 -.3 -.2 3.1 3.1 3.1 -.5 -.5 -.5 Nonfarm................................ 7.6 3.2 6.6 8.3 6.3 11.9 3.5 4.7 -2.1 7.5 2.8 2.6 1.1 -.3 Rental income of persons with capital consumption adjustment.................. .5 1.1 1.2 1.6 1.5 .5 .1 -.2 15.0 15.2 15.4 -1.9 -1.3 -1.2 Personal income receipts on assets....... 11.5 9.9 -3.9 -6.1 -11.0 11.0 13.6 28.2 5.4 8.0 -1.0 13.3 10.1 12.0 Personal interest income............... -2.3 -1.8 -13.4 -14.8 -15.1 9.0 11.4 12.2 1.6 1.6 1.7 4.7 4.7 4.7 Personal dividend income............... 13.8 11.8 9.4 8.7 4.1 2.0 2.2 16.0 3.8 6.3 -2.6 8.6 5.5 7.3 Personal current transfer receipts....... 1.0 3.6 8.2 36.2 6.7 23.1 9.9 16.7 -24.4 -8.3 7.2 12.5 -1.4 9.5 Government social benefits to persons.. .9 3.4 8.1 36.5 6.9 20.9 10.7 17.0 -25.7 -7.1 6.7 12.4 -1.3 9.5 Social security\1\................... .9 -.7 5.0 -1.8 6.0 .2 -.8 8.9 -2.8 -1.4 3.7 8.0 -1.7 .7 Medicare\2\.......................... 2.4 2.9 3.3 3.7 4.2 4.7 5.1 5.5 3.6 3.6 3.2 2.1 .7 .8 Medicaid............................. -.2 2.5 5.1 7.4 11.4 15.8 10.1 6.0 -10.7 -5.8 -1.7 4.4 5.3 2.1 Unemployment insurance............... -4.9 -4.3 -5.7 19.3 -12.7 -.1 -5.9 -3.2 -3.1 -5.1 -1.9 -3.7 -7.7 4.7 Veterans' benefits................... 1.0 .1 .6 1.1 -.1 .2 -.6 .7 1.4 -.4 1.8 .7 -1.3 1.8 Other................................ 1.8 2.8 -.2 6.7 -1.7 .0 2.8 -1.0 -14.1 2.1 1.6 .9 3.4 -.5 Other current transfer receipts, from business (net)........................ .2 .1 .1 -.2 -.4 2.3 -.8 -.3 1.3 -1.2 .4 .1 .0 -.1 Less: Contributions for government social insurance, domestic..................... 6.1 -1.4 3.0 2.9 -.8 2.8 -1.5 1.3 -90.1 5.4 4.2 3.1 2.2 -.2 Less: Personal current taxes............... 13.9 6.9 16.1 13.6 9.1 11.7 4.8 7.7 103.6 13.1 9.9 7.1 5.6 2.3 Equals: Disposable personal income......... 57.9 10.6 31.9 50.0 -4.3 56.7 11.0 55.4 40.8 49.6 45.5 45.8 17.6 16.3 Less: Personal outlays..................... 22.2 -4.3 37.0 56.2 26.5 59.1 39.1 36.9 42.5 79.3 61.2 20.3 5.3 -22.6 Personal consumption expenditures........ 25.5 -4.0 37.3 58.4 29.3 61.8 40.3 38.4 41.9 79.7 61.5 20.4 5.9 -21.9 Goods.................................. -15.4 -11.1 21.6 42.9 26.4 47.9 15.1 21.1 43.5 57.3 24.1 19.5 -23.4 -19.8 Durable goods........................ -1.7 -5.6 12.8 2.6 16.6 24.1 -.4 4.5 12.3 22.7 -1.6 -3.1 -14.8 -4.5 Nondurable goods..................... -13.7 -5.5 8.7 40.3 9.8 23.9 15.5 16.5 31.3 34.6 25.7 22.6 -8.6 -15.2 Services............................... 40.9 7.1 15.7 15.5 2.9 13.9 25.2 17.3 -1.6 22.4 37.5 .8 29.3 -2.1 Personal interest payments\3\............ -3.7 -.6 -2.0 -2.5 -3.1 -1.1 -1.4 -1.5 -.4 -.5 -.5 -.8 -.8 -.9 Personal current transfer payments....... .5 .4 1.6 .3 .3 -1.6 .1 .1 1.0 .1 .1 .8 .2 .2 To government.......................... .4 .4 .4 .3 .2 .2 .2 .1 .0 .0 .1 .2 .2 .2 To the rest of the world (net)......... .0 .0 1.4 .0 .0 -1.8 .0 .0 1.0 .0 .0 .6 .0 .0 Equals: Personal saving.................... 35.7 14.9 -5.1 -6.1 -30.9 -2.4 -28.1 18.5 -1.7 -29.7 -15.7 25.5 12.3 38.9 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 68.5 27.4 15.4 9.9 -12.1 20.8 -1.9 18.6 116.8 26.0 5.9 5.3 6.2 24.1 Disposable personal income, billions of chained (2005) dollars\4\............ 57.4 25.9 6.2 28.7 -15.5 28.9 2.1 24.1 -.8 3.6 .1 7.3 -1.4 31.9 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters)--Continues [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 I 08 II 08 III 08 IV 08 ------------------------------------------------------------------------------------------------------------------- Personal income............................ 644.2 547.9 -530.0 443.3 274.2 156.1 -58.4 -173.3 Compensation of employees, received...... 386.5 211.1 -271.9 170.0 114.7 -25.6 11.3 -48.6 Wage and salary disbursements.......... 352.8 129.2 -280.6 137.9 77.1 -45.6 -4.3 -53.2 Private industries................... 299.0 74.1 -311.8 122.4 54.0 -55.8 -17.5 -62.2 Goods-producing industries......... 37.4 -5.7 -144.3 -4.2 6.8 -14.1 -16.6 -24.0 Manufacturing.................... 13.5 -11.3 -80.0 13.3 -.1 -8.1 -9.2 -16.6 Services-producing industries...... 261.5 79.7 -167.3 126.5 47.3 -41.8 -.9 -38.2 Trade, transportation, and utilities....................... 49.2 4.5 -60.1 16.4 6.1 -10.4 -5.7 -13.4 Other services-producing industries...................... 212.3 75.2 -107.3 110.2 41.1 -31.3 4.8 -24.8 Government........................... 53.8 55.1 31.2 15.5 23.1 10.3 13.1 9.0 Supplements to wages and salaries...... 33.5 82.1 8.6 32.0 37.6 20.0 15.6 4.6 Employer contributions for employee pension and insurance funds......... 20.4 71.9 20.7 16.8 31.1 22.1 14.7 7.0 Employer contributions for government social insurance.................... 13.2 10.2 -12.1 15.2 6.6 -2.1 .9 -2.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. -42.6 7.5 -156.7 95.2 24.6 13.5 -23.2 -57.3 Farm................................... 8.5 14.0 -12.6 13.0 14.6 -5.2 -8.7 -2.0 Nonfarm................................ -51.0 -6.5 -144.1 82.2 9.8 18.8 -14.5 -55.3 Rental income of persons with capital consumption adjustment.................. -2.8 87.9 74.3 44.3 23.0 29.6 25.0 32.1 Personal income receipts on assets....... 227.3 108.4 -457.7 13.5 85.2 -1.9 -5.6 -141.5 Personal interest income............... 137.6 116.9 -273.1 -105.5 57.0 30.7 17.3 -86.7 Personal dividend income............... 89.7 -8.5 -184.6 118.9 28.1 -32.5 -22.9 -54.7 Personal current transfer receipts....... 113.5 160.7 258.9 143.1 45.1 137.2 -63.9 37.5 Government social benefits to persons.. 104.3 154.5 257.5 143.0 42.2 137.4 -64.0 37.2 Social security\1\................... 31.5 29.9 59.0 25.7 16.2 5.6 6.0 4.2 Medicare\2\.......................... 28.4 34.0 32.2 24.6 15.4 4.9 6.8 8.7 Medicaid............................. 25.1 14.1 35.9 31.3 -.4 7.0 2.5 1.3 Unemployment insurance............... 2.3 18.2 79.7 8.1 1.6 1.1 20.2 13.2 Veterans' benefits................... 2.8 3.3 6.5 6.4 1.6 .6 .7 .4 Other................................ 14.1 54.9 44.3 47.0 7.7 118.3 -100.2 9.4 Other current transfer receipts, from business (net)........................ 9.1 6.3 1.4 .1 2.9 -.2 .1 .4 Less: Contributions for government social insurance, domestic..................... 37.7 27.8 -23.2 22.7 18.2 -3.2 2.1 -4.5 Less: Personal current taxes............... 136.3 -53.0 -294.3 52.5 18.0 -184.2 80.3 -9.3 Equals: Disposable personal income......... 507.9 600.9 -235.7 390.9 256.2 340.4 -138.8 -163.9 Less: Personal outlays..................... 515.8 257.3 -195.9 350.6 64.4 104.9 9.0 -302.1 Personal consumption expenditures........ 471.3 263.2 -169.4 379.4 69.8 108.0 9.3 -274.5 Goods.................................. 139.2 17.8 -184.2 189.5 -8.9 44.6 -10.8 -274.7 Durable goods........................ 33.4 -79.5 -79.3 55.9 -33.8 -16.4 -40.0 -87.3 Nondurable goods..................... 105.7 97.3 -105.0 133.7 25.0 60.9 29.1 -187.2 Services............................... 332.0 245.5 14.9 189.8 78.6 63.4 20.1 .2 Personal interest payments\3\............ 30.8 -15.3 -31.9 -40.3 -8.3 -6.2 -2.8 -21.0 Personal current transfer payments....... 13.7 9.3 5.5 11.5 3.0 3.0 2.6 -6.6 To government.......................... 6.0 2.5 4.2 6.0 -.6 .1 .5 .8 To the rest of the world (net)......... 7.7 6.9 1.2 5.5 3.6 2.9 2.1 -7.4 Equals: Personal saving.................... -7.9 343.6 -39.7 40.2 191.7 235.6 -147.8 138.1 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 255.6 49.8 -742.6 113.3 120.3 -91.1 -98.2 -54.7 Disposable personal income, billions of chained (2005) dollars\4\............ 227.5 239.2 -236.8 178.9 143.3 201.1 -234.8 -5.8 ------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 4. Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters)--Table Ends [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------- I 09 II 09 III 09 IV 09 I 10 II 10 III 10 IV 10 I 11 II 11 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ -375.6 -20.3 -70.0 64.1 199.5 187.9 127.6 124.4 251.9 132.5 Compensation of employees, received...... -226.0 -.9 -27.3 22.5 48.1 107.5 62.2 28.6 102.3 76.9 Wage and salary disbursements.......... -216.9 -2.3 -26.9 20.1 30.2 98.2 54.7 22.5 82.8 67.0 Private industries................... -225.9 -9.3 -28.0 18.0 20.8 90.5 61.2 23.7 80.3 66.0 Goods-producing industries......... -73.6 -40.4 -19.6 -3.3 -4.1 21.7 11.9 .3 19.3 15.5 Manufacturing.................... -42.7 -19.1 -11.5 7.6 -.8 18.3 8.6 3.3 13.0 10.5 Services-producing industries...... -152.3 31.1 -8.5 21.4 24.8 68.9 49.3 23.4 61.0 50.5 Trade, transportation, and utilities....................... -32.2 -12.5 -6.4 .7 3.6 17.1 11.4 .2 12.5 15.3 Other services-producing industries...................... -120.1 43.7 -2.2 20.7 21.3 51.7 37.9 23.2 48.5 35.2 Government........................... 8.9 7.0 1.2 2.1 9.4 7.7 -6.4 -1.3 2.5 1.0 Supplements to wages and salaries...... -9.1 1.5 -.5 2.4 17.9 9.3 7.5 6.0 19.5 10.0 Employer contributions for employee pension and insurance funds......... .5 .7 1.8 2.7 7.2 4.2 4.4 4.8 6.2 5.7 Employer contributions for government social insurance.................... -9.7 .8 -2.3 -.3 10.7 5.1 3.1 1.2 13.3 4.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. -86.5 -33.3 2.4 19.2 33.2 43.9 31.4 24.5 14.1 9.7 Farm................................... -7.5 1.6 .8 1.9 3.2 1.2 12.5 1.8 6.0 2.1 Nonfarm................................ -79.0 -34.9 1.7 17.1 30.1 42.6 19.0 22.7 8.1 7.7 Rental income of persons with capital consumption adjustment.................. 3.2 20.9 19.6 6.6 18.2 5.0 3.7 2.0 30.2 12.1 Personal income receipts on assets....... -204.5 -144.0 -71.8 .3 57.3 31.2 -1.1 20.1 33.7 26.0 Personal interest income............... -138.4 -65.2 -56.6 -35.1 -11.9 -12.0 -30.2 5.7 15.1 11.1 Personal dividend income............... -66.2 -78.8 -15.2 35.4 69.2 43.2 29.0 14.5 18.6 15.0 Personal current transfer receipts....... 120.1 137.9 2.4 14.8 57.2 10.0 37.3 51.8 -13.1 16.7 Government social benefits to persons.. 119.3 137.4 2.3 14.9 57.5 10.0 37.3 50.5 -13.3 16.8 Social security\1\................... 38.7 10.6 5.5 7.8 2.9 9.7 5.6 6.0 3.2 9.1 Medicare\2\.......................... 9.7 9.2 6.7 4.3 2.9 5.9 9.9 13.9 12.5 6.1 Medicaid............................. 19.8 11.3 9.8 -5.1 8.6 3.2 15.4 34.6 -7.7 5.5 Unemployment insurance............... 29.9 26.8 16.9 3.9 4.1 -15.4 -1.6 -7.1 -11.2 -10.2 Veterans' benefits................... 3.8 .9 1.6 1.7 2.0 1.5 1.7 .4 1.9 1.5 Other................................ 17.3 78.7 -38.2 2.3 37.1 5.1 6.2 2.6 -11.8 4.7 Other current transfer receipts, from business (net)........................ .7 .4 .2 -.1 -.3 .0 -.1 1.4 .2 -.1 Less: Contributions for government social insurance, domestic..................... -18.2 .9 -4.8 -.6 14.5 9.7 5.8 2.6 -84.7 9.1 Less: Personal current taxes............... -224.8 -77.7 .3 5.8 20.0 29.0 37.4 28.1 122.3 22.6 Equals: Disposable personal income......... -151.0 57.5 -70.3 58.2 179.6 158.9 90.2 96.3 129.6 109.9 Less: Personal outlays..................... -81.1 -1.8 131.9 65.9 106.0 69.8 87.8 133.8 153.5 83.5 Personal consumption expenditures........ -79.6 -.1 129.5 78.9 113.7 81.1 91.8 140.5 154.6 84.5 Goods.................................. -50.7 12.9 102.0 24.4 68.1 2.0 46.4 96.9 108.8 32.5 Durable goods........................ .8 -10.6 40.6 -11.3 19.2 13.7 15.8 37.2 29.8 -8.0 Nondurable goods..................... -51.6 23.5 61.4 35.6 49.0 -11.8 30.7 59.7 79.1 40.4 Services............................... -28.9 -13.0 27.5 54.6 45.5 79.1 45.4 43.6 45.7 52.1 Personal interest payments\3\............ -6.4 -2.9 -1.0 -16.5 -11.8 -13.9 -6.3 -5.4 -2.4 -2.1 Personal current transfer payments....... 4.9 1.2 3.4 3.5 4.1 2.6 2.3 -1.2 1.2 1.1 To government.......................... 1.2 1.4 1.5 1.7 1.9 1.4 1.0 .7 .1 .5 To the rest of the world (net)......... 3.8 -.2 1.8 1.8 2.3 1.0 1.4 -1.8 1.0 .6 Equals: Personal saving.................... -69.8 59.2 -202.1 -7.7 73.6 89.2 2.3 -37.5 -23.8 26.3 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... -417.5 -188.4 -132.5 -15.8 87.9 153.1 59.2 21.0 147.7 30.1 Disposable personal income, billions of chained (2005) dollars\4\............ -96.9 6.3 -137.7 -14.2 117.1 135.3 56.6 37.6 18.2 18.4 ------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Continues [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ 1.0 .6 .6 -.2 1.4 -.1 -1.0 .2 -.1 -.5 -.8 -1.1 -1.1 -1.1 Compensation of employees, received...... .4 .4 .3 -.6 -.1 .0 .0 .2 .0 .0 -.5 -1.1 -1.3 -.8 Wage and salary disbursements.......... .2 .3 .2 -.8 -.2 -.1 -.1 .2 -.1 .0 -.6 -1.3 -1.5 -.9 Supplements to wages and salaries...... 1.1 .9 .7 .2 .4 .4 .3 .4 .2 .2 -.1 -.3 -.2 -.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. .3 .7 1.5 .0 .2 -.3 -.8 -.7 -2.0 -1.3 -2.0 -3.4 -3.1 -2.7 Rental income of persons with capital consumption adjustment.................. 4.6 4.7 5.5 5.4 4.6 3.9 2.7 3.8 4.9 5.9 2.9 1.1 -1.3 .4 Personal income receipts on assets....... 3.1 1.1 .2 -.4 -.3 .0 .3 -.3 -.8 -2.9 -2.9 -3.2 -3.6 -3.8 Personal interest income............... 3.2 1.1 .8 1.0 .5 .2 .9 .3 -.2 -3.3 -2.8 -2.9 -4.4 -3.5 Personal dividend income............... 3.1 1.2 -.8 -2.7 -1.6 -.4 -.7 -1.2 -2.0 -2.2 -3.0 -3.8 -2.0 -4.2 Personal current transfer receipts....... 1.2 .1 .9 .7 10.0 -1.1 -6.5 1.0 .9 .1 .5 1.9 3.4 1.1 Less: Contributions for government social insurance, domestic..................... .8 .3 .3 -.6 -.1 .0 .0 .3 .0 .1 -.5 -1.0 -.4 -.7 Less: Personal current taxes............... -.4 .7 1.0 -.4 -25.2 17.7 -.6 9.7 -1.0 -1.1 -1.9 -1.9 -12.0 -2.4 Equals: Disposable personal income......... 1.2 .5 .5 -.2 5.2 -1.9 -1.0 -.9 .0 -.4 -.7 -1.0 .3 -.9 Addenda: Personal consumption expenditures........ .1 -.2 .5 .4 .4 .5 -.1 -.3 -.5 -1.0 -1.5 -1.0 .6 .0 Goods.................................. -.4 -1.2 1.0 .3 .5 1.1 -.3 -.3 -2.0 -3.0 -4.1 -3.0 1.8 .6 Durable goods........................ -.9 -1.7 -.5 -.1 -.2 -.9 -2.4 1.1 -3.6 -4.6 -1.1 -1.9 3.1 -1.0 Nondurable goods..................... -.2 -.9 1.9 .5 .9 2.0 .7 -1.0 -1.3 -2.2 -5.5 -3.5 1.2 1.4 Services............................... .4 .3 .2 .4 .3 .3 .1 -.2 .3 .0 -.1 -.1 .0 -.3 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... .6 .4 .2 -.7 -.4 -.5 -.5 .2 -.4 -.1 .1 -1.2 -2.1 -1.8 Real disposable personal income.......... .9 .3 .2 -.5 4.8 -2.5 -1.6 -.8 -.1 .1 .5 -.5 .1 -1.2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Continues [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ -.6 .1 1.3 -1.2 -.3 .0 .2 -.1 .5 .6 .8 .2 .5 .7 Compensation of employees, received...... -.5 .5 .2 -.1 -.3 .0 -.1 .1 .3 .0 .4 -.1 .4 .7 Wage and salary disbursements.......... -.6 .6 .2 -.2 -.4 .0 -.1 .1 .3 .0 .3 -.2 .5 .8 Supplements to wages and salaries...... -.1 .2 .1 .0 -.1 .0 .0 .0 .1 .0 1.0 .0 .2 .2 Proprietors' income with inventory valuation and capital consumption adjustments............................. -2.0 -.8 -.5 -.3 .2 .7 .0 .7 1.1 1.2 1.1 1.1 1.5 2.2 Rental income of persons with capital consumption adjustment.................. 1.7 3.2 2.9 2.6 2.4 1.5 .8 -.2 .9 1.8 2.5 1.7 .9 .1 Personal income receipts on assets....... -3.2 -3.0 -1.6 -1.2 -1.9 -1.1 -.7 -.3 .8 2.0 1.2 1.0 .1 .8 Personal interest income............... -3.3 -1.0 -1.1 -1.0 -2.2 -1.9 -1.8 -1.5 -.2 .4 -.7 -.7 -.7 -.3 Personal dividend income............... -3.1 -6.6 -2.7 -1.6 -1.4 .5 1.3 1.8 2.6 4.6 4.3 3.7 1.3 2.4 Personal current transfer receipts....... 1.8 1.6 8.1 -5.2 .2 .6 1.7 -1.2 .5 .9 1.7 .1 .3 .1 Less: Contributions for government social insurance, domestic..................... -.4 .5 .2 -.2 -.4 .0 -.2 .0 .2 -.2 1.7 -.3 .3 .5 Less: Personal current taxes............... -2.7 -3.6 -.4 -.3 .2 .2 .0 .0 .5 .4 .9 .2 .8 .9 Equals: Disposable personal income......... -.4 .5 1.5 -1.3 -.4 .0 .2 -.2 .5 .6 .8 .2 .4 .7 Addenda: Personal consumption expenditures........ -.5 .0 .2 .5 .3 1.2 -.7 .6 .2 .6 .2 .4 .6 .1 Goods.................................. -1.2 -.1 .9 1.4 .8 3.1 -2.4 .6 .9 .5 .6 .6 1.1 -.5 Durable goods........................ -1.8 -.7 1.6 .4 1.7 6.5 -8.2 1.1 2.0 .6 -.7 .7 3.1 -.7 Nondurable goods..................... -.8 .2 .6 1.8 .3 1.4 .5 .4 .4 .5 1.2 .6 .2 -.4 Services............................... -.1 .0 -.1 .1 .1 .3 .1 .5 -.1 .6 .0 .3 .3 .4 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... -1.0 -.4 -.3 -.8 -.5 -.4 -.3 -.2 .3 .5 .3 .2 .4 .8 Real disposable personal income.......... -.3 .4 1.4 -1.8 -.5 -.3 .0 -.5 .3 .6 .5 .1 .3 .6 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Table Ends [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ .6 .1 .4 .5 .0 .5 .1 .5 1.1 .5 .4 .4 .2 .1 Compensation of employees, received...... .7 -.1 .4 .3 .0 .3 -.2 .2 .7 .5 .4 .4 .2 .0 Wage and salary disbursements.......... .8 -.1 .5 .3 .0 .3 -.2 .2 .7 .6 .4 .4 .2 .0 Supplements to wages and salaries...... .3 .0 .2 .2 .1 .2 .0 .1 .8 .3 .3 .2 .2 .1 Proprietors' income with inventory valuation and capital consumption adjustments............................. .9 .7 1.2 1.2 .8 1.1 .3 .4 .1 1.0 .5 .2 .1 -.1 Rental income of persons with capital consumption adjustment.................. .2 .3 .4 .5 .4 .2 .0 -.1 4.2 4.1 4.0 -.5 -.3 -.3 Personal income receipts on assets....... .7 .6 -.2 -.4 -.6 .6 .8 1.6 .3 .4 -.1 .7 .6 .7 Personal interest income............... -.2 -.2 -1.3 -1.5 -1.5 .9 1.2 1.2 .2 .2 .2 .5 .5 .5 Personal dividend income............... 2.0 1.7 1.3 1.2 .5 .3 .3 2.1 .5 .8 -.3 1.1 .7 .9 Personal current transfer receipts....... .0 .2 .4 1.6 .3 1.0 .4 .7 -1.0 -.4 .3 .5 -.1 .4 Less: Contributions for government social insurance, domestic..................... .6 -.1 .3 .3 -.1 .3 -.2 .1 -9.1 .6 .5 .3 .2 .0 Less: Personal current taxes............... 1.2 .6 1.4 1.1 .8 1.0 .4 .6 8.3 1.0 .7 .5 .4 .2 Equals: Disposable personal income......... .5 .1 .3 .4 .0 .5 .1 .5 .4 .4 .4 .4 .2 .1 Addenda: Personal consumption expenditures........ .3 .0 .4 .6 .3 .6 .4 .4 .4 .8 .6 .2 .1 -.2 Goods.................................. -.5 -.3 .6 1.3 .8 1.4 .4 .6 1.2 1.6 .7 .5 -.6 -.5 Durable goods........................ -.2 -.5 1.2 .2 1.5 2.2 .0 .4 1.1 2.0 -.1 -.3 -1.3 -.4 Nondurable goods..................... -.6 -.2 .4 1.8 .4 1.0 .7 .7 1.3 1.4 1.1 .9 -.3 -.6 Services............................... .6 .1 .2 .2 .0 .2 .4 .2 .0 .3 .5 .0 .4 .0 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... .8 .3 .2 .1 -.1 .2 .0 .2 1.3 .3 .1 .1 .1 .3 Real disposable personal income.......... .6 .3 .1 .3 -.2 .3 .0 .2 .0 .0 .0 .1 .0 .3 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters)--Continues [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 I 08 II 08 III 08 IV 08 ------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------ Based on current-dollar measures ------------------------------------------------------------------------ Personal income............................ 5.7 4.6 -4.3 3.7 9.3 5.1 -1.8 -5.4 Compensation of employees, received...... 5.2 2.7 -3.4 2.2 5.9 -1.3 .6 -2.4 Wage and salary disbursements.......... 5.8 2.0 -4.3 2.2 4.8 -2.7 -.3 -3.2 Supplements to wages and salaries...... 2.4 5.7 .6 2.1 10.7 5.5 4.2 1.2 Proprietors' income with inventory valuation and capital consumption adjustments............................. -3.8 .7 -14.3 10.1 9.3 5.0 -8.0 -19.2 Rental income of persons with capital consumption adjustment.................. -1.9 61.1 32.1 14.5 68.0 79.1 54.3 63.9 Personal income receipts on assets....... 12.4 5.3 -21.1 .8 17.1 -.3 -1.0 -23.4 Personal interest income............... 12.2 9.2 -19.8 -9.5 18.5 9.2 5.0 -22.3 Personal dividend income............... 12.8 -1.1 -23.6 19.9 14.7 -14.7 -11.0 -25.3 Personal current transfer receipts....... 7.1 9.4 13.8 6.7 10.7 34.2 -12.6 8.3 Less: Contributions for government social insurance, domestic..................... 4.1 2.9 -2.3 2.4 7.7 -1.3 .9 -1.8 Less: Personal current taxes............... 10.1 -3.6 -20.5 4.6 4.8 -40.0 26.0 -2.6 Equals: Disposable personal income......... 5.1 5.8 -2.1 3.6 10.0 13.1 -4.9 -5.8 Addenda: Personal consumption expenditures........ 5.1 2.7 -1.7 3.8 2.8 4.4 .4 -10.4 Goods.................................. 4.3 .5 -5.4 5.9 -1.0 5.3 -1.2 -28.2 Durable goods........................ 2.9 -6.7 -7.1 5.4 -10.8 -5.5 -13.2 -28.0 Nondurable goods..................... 5.1 4.5 -4.6 6.2 4.6 11.2 5.1 -28.3 Services............................... 5.5 3.8 .2 2.8 4.9 3.9 1.2 .0 ------------------------------------------------------------------------ Based on chained (2005) dollar measures ------------------------------------------------------------------------ Real personal income excluding current transfer receipts....................... 2.7 .5 -7.6 1.3 1.2 -.9 -1.0 -.6 Real disposable personal income.......... 2.4 2.4 -2.3 1.8 5.9 8.2 -8.8 -.2 ------------------------------------------------------------------------------------------------------------------- Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters)--Table Ends [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------- I 09 II 09 III 09 IV 09 I 10 II 10 III 10 IV 10 I 11 II 11 ------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ Based on current-dollar measures ------------------------------------------------------------------------------------------ Personal income............................ -11.6 -.7 -2.3 2.2 6.9 6.3 4.2 4.1 8.3 4.2 Compensation of employees, received...... -10.8 .0 -1.4 1.2 2.5 5.6 3.2 1.4 5.2 3.8 Wage and salary disbursements.......... -12.7 -.1 -1.7 1.3 1.9 6.4 3.5 1.4 5.2 4.1 Supplements to wages and salaries...... -2.4 .4 -.1 .6 4.8 2.4 1.9 1.6 5.0 2.5 Proprietors' income with inventory valuation and capital consumption adjustments............................. -29.2 -13.2 1.1 8.5 14.8 19.1 12.8 9.6 5.3 3.6 Rental income of persons with capital consumption adjustment.................. 4.9 33.5 28.7 8.6 24.3 5.9 4.3 2.4 38.6 13.3 Personal income receipts on assets....... -34.2 -27.7 -15.8 .1 14.8 7.6 -.3 4.7 8.0 6.0 Personal interest income............... -35.5 -20.1 -18.6 -12.4 -4.5 -4.6 -11.4 2.3 6.3 4.5 Personal dividend income............... -31.9 -40.0 -10.1 27.6 55.0 28.5 17.4 8.1 10.2 8.0 Personal current transfer receipts....... 27.6 30.1 .4 2.8 10.9 1.8 6.8 9.4 -2.2 2.9 Less: Contributions for government social insurance, domestic..................... -7.2 .4 -2.0 -.3 6.2 4.0 2.4 1.1 -30.0 4.1 Less: Personal current taxes............... -49.7 -23.5 .1 2.1 7.3 10.5 13.4 9.6 45.7 6.8 Equals: Disposable personal income......... -5.4 2.2 -2.6 2.2 6.8 5.9 3.3 3.5 4.7 3.9 Addenda: Personal consumption expenditures........ -3.2 .0 5.4 3.2 4.6 3.2 3.7 5.6 6.1 3.2 Goods.................................. -6.2 1.7 13.6 3.0 8.6 .2 5.7 11.9 13.1 3.7 Durable goods........................ .3 -4.1 17.1 -4.2 7.6 5.3 6.0 14.4 11.0 -2.7 Nondurable goods..................... -9.2 4.5 12.0 6.7 9.1 -2.0 5.5 10.8 14.1 6.8 Services............................... -1.7 -.8 1.7 3.3 2.7 4.8 2.7 2.6 2.7 3.0 ------------------------------------------------------------------------------------------ Based on chained (2005) dollar measures ------------------------------------------------------------------------------------------ Real personal income excluding current transfer receipts....................... -4.3 -2.1 -1.5 -.2 1.0 1.7 .7 .2 1.6 .3 Real disposable personal income.......... -3.8 .3 -5.4 -.6 4.9 5.6 2.3 1.5 .7 .7 ------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,310.6 9,273.1 9,283.5 9,289.3 9,287.6 9,280.5 9,226.4 9,209.8 9,151.8 9,107.5 9,084.5 Goods.................................... 3,269.8 3,226.7 3,250.4 3,251.8 3,254.9 3,251.4 3,208.1 3,212.2 3,143.5 3,103.2 3,090.1 Durable goods.......................... 1,233.0 1,214.3 1,208.8 1,212.6 1,213.4 1,203.3 1,174.4 1,189.2 1,148.7 1,097.6 1,091.2 Nondurable goods....................... 2,039.4 2,014.8 2,042.0 2,040.2 2,042.6 2,047.7 2,031.1 2,023.0 1,992.2 1,996.9 1,990.3 Services................................. 6,040.9 6,045.5 6,032.8 6,037.2 6,032.5 6,028.8 6,017.3 5,996.6 6,005.6 6,000.2 5,989.7 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -17.2 -37.5 10.4 5.8 -1.7 -7.1 -54.1 -16.6 -58.0 -44.3 -23.0 Goods.................................... -27.0 -43.1 23.7 1.4 3.1 -3.5 -43.3 4.1 -68.7 -40.3 -13.1 Durable goods.......................... -11.1 -18.7 -5.5 3.8 .8 -10.1 -28.9 14.8 -40.5 -51.1 -6.4 Nondurable goods....................... -15.9 -24.6 27.2 -1.8 2.4 5.1 -16.6 -8.1 -30.8 4.7 -6.6 Services................................. 9.1 4.6 -12.7 4.4 -4.7 -3.7 -11.5 -20.7 9.0 -5.4 -10.5 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.2 -.4 .1 .1 .0 -.1 -.6 -.2 -.6 -.5 -.3 Goods.................................... -.8 -1.3 .7 .0 .1 -.1 -1.3 .1 -2.1 -1.3 -.4 Durable goods.......................... -.9 -1.5 -.5 .3 .1 -.8 -2.4 1.3 -3.4 -4.5 -.6 Nondurable goods....................... -.8 -1.2 1.4 -.1 .1 .3 -.8 -.4 -1.5 .2 -.3 Services................................. .2 .1 -.2 .1 -.1 -.1 -.2 -.3 .2 -.1 -.2 ---------------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,036.1 9,071.5 9,042.6 9,008.5 8,993.1 9,002.4 9,000.1 9,023.5 9,104.7 9,022.7 9,044.6 Goods.................................... 3,052.6 3,096.8 3,090.5 3,060.4 3,049.2 3,071.1 3,072.7 3,096.2 3,174.8 3,091.1 3,105.9 Durable goods.......................... 1,075.2 1,108.7 1,096.8 1,078.2 1,070.1 1,087.7 1,092.2 1,117.0 1,193.3 1,093.3 1,103.2 Nondurable goods....................... 1,968.7 1,981.5 1,986.0 1,973.6 1,969.9 1,975.5 1,973.1 1,974.4 1,984.4 1,989.1 1,994.8 Services................................. 5,976.6 5,970.4 5,947.9 5,942.1 5,937.2 5,926.2 5,922.5 5,923.4 5,929.7 5,927.4 5,934.9 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -48.4 35.4 -28.9 -34.1 -15.4 9.3 -2.3 23.4 81.2 -82.0 21.9 Goods.................................... -37.5 44.2 -6.3 -30.1 -11.2 21.9 1.6 23.5 78.6 -83.7 14.8 Durable goods.......................... -16.0 33.5 -11.9 -18.6 -8.1 17.6 4.5 24.8 76.3 -100.0 9.9 Nondurable goods....................... -21.6 12.8 4.5 -12.4 -3.7 5.6 -2.4 1.3 10.0 4.7 5.7 Services................................. -13.1 -6.2 -22.5 -5.8 -4.9 -11.0 -3.7 .9 6.3 -2.3 7.5 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.5 .4 -.3 -.4 -.2 .1 .0 .3 .9 -.9 .2 Goods.................................... -1.2 1.4 -.2 -1.0 -.4 .7 .0 .8 2.5 -2.6 .5 Durable goods.......................... -1.5 3.1 -1.1 -1.7 -.7 1.6 .4 2.3 6.8 -8.4 .9 Nondurable goods....................... -1.1 .6 .2 -.6 -.2 .3 -.1 .1 .5 .2 .3 Services................................. -.2 -.1 -.4 -.1 -.1 -.2 -.1 .0 .1 .0 .1 ---------------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------- Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,044.7 9,091.2 9,086.8 9,119.1 9,157.7 9,164.7 9,192.4 9,203.7 9,216.8 9,254.4 9,270.1 Goods.................................... 3,125.6 3,142.1 3,145.2 3,168.2 3,206.6 3,198.0 3,201.0 3,209.7 3,214.3 3,244.5 3,263.5 Durable goods.......................... 1,124.9 1,134.3 1,127.9 1,139.5 1,175.0 1,169.3 1,170.3 1,168.2 1,186.1 1,187.9 1,208.1 Nondurable goods....................... 1,995.3 2,002.9 2,010.9 2,022.9 2,029.6 2,026.2 2,028.1 2,037.9 2,027.7 2,054.3 2,055.6 Services................................. 5,916.8 5,946.9 5,939.8 5,950.1 5,952.3 5,967.1 5,991.3 5,994.4 6,002.8 6,011.8 6,009.7 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .1 46.5 -4.4 32.3 38.6 7.0 27.7 11.3 13.1 37.6 15.7 Goods.................................... 19.7 16.5 3.1 23.0 38.4 -8.6 3.0 8.7 4.6 30.2 19.0 Durable goods.......................... 21.7 9.4 -6.4 11.6 35.5 -5.7 1.0 -2.1 17.9 1.8 20.2 Nondurable goods....................... .5 7.6 8.0 12.0 6.7 -3.4 1.9 9.8 -10.2 26.6 1.3 Services................................. -18.1 30.1 -7.1 10.3 2.2 14.8 24.2 3.1 8.4 9.0 -2.1 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .0 .5 .0 .4 .4 .1 .3 .1 .1 .4 .2 Goods.................................... .6 .5 .1 .7 1.2 -.3 .1 .3 .1 .9 .6 Durable goods.......................... 2.0 .8 -.6 1.0 3.1 -.5 .1 -.2 1.5 .2 1.7 Nondurable goods....................... .0 .4 .4 .6 .3 -.2 .1 .5 -.5 1.3 .1 Services................................. -.3 .5 -.1 .2 .0 .2 .4 .1 .1 .1 .0 ---------------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Table Ends ---------------------------------------------------------------------------------------------------------------------------- Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ---------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,305.5 9,334.4 9,345.3 9,348.6 9,382.1 9,399.5 9,386.8 9,376.6 9,373.4 Goods.................................... 3,296.9 3,310.1 3,311.1 3,327.0 3,355.3 3,351.0 3,347.8 3,326.5 3,324.9 Durable goods.......................... 1,237.6 1,239.9 1,249.8 1,262.8 1,285.2 1,284.1 1,277.4 1,259.7 1,252.3 Nondurable goods....................... 2,062.9 2,073.2 2,066.2 2,070.8 2,079.3 2,076.2 2,078.5 2,072.6 2,076.8 Services................................. 6,013.6 6,029.6 6,039.2 6,027.8 6,034.2 6,055.2 6,045.7 6,055.6 6,054.0 --------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------- Personal consumption expenditures.......... 35.4 28.9 10.9 3.3 33.5 17.4 -12.7 -10.2 -3.2 Goods.................................... 33.4 13.2 1.0 15.9 28.3 -4.3 -3.2 -21.3 -1.6 Durable goods.......................... 29.5 2.3 9.9 13.0 22.4 -1.1 -6.7 -17.7 -7.4 Nondurable goods....................... 7.3 10.3 -7.0 4.6 8.5 -3.1 2.3 -5.9 4.2 Services................................. 3.9 16.0 9.6 -11.4 6.4 21.0 -9.5 9.9 -1.6 --------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------- Personal consumption expenditures.......... .4 .3 .1 .0 .4 .2 -.1 -.1 .0 Goods.................................... 1.0 .4 .0 .5 .8 -.1 -.1 -.6 .0 Durable goods.......................... 2.4 .2 .8 1.0 1.8 -.1 -.5 -1.4 -.6 Nondurable goods....................... .4 .5 -.3 .2 .4 -.1 .1 -.3 .2 Services................................. .1 .3 .2 -.2 .1 .3 -.2 .2 .0 ---------------------------------------------------------------------------------------------------------------------------- p Preliminary Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Continues [Quarters seasonally adjusted at annual rates] --------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 I 08 II 08 III 08 IV 08 --------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Billions of chained (2005) dollars -------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,262.9 9,211.7 9,037.5 9,220.9 9,289.1 9,285.8 9,196.0 9,076.0 Goods.................................... 3,273.5 3,192.9 3,098.0 3,230.7 3,249.0 3,252.7 3,187.9 3,082.0 Durable goods.......................... 1,232.4 1,171.8 1,108.3 1,188.3 1,218.7 1,209.8 1,170.8 1,088.0 Nondurable goods....................... 2,042.9 2,019.1 1,983.4 2,041.3 2,032.1 2,043.5 2,015.4 1,985.3 Services................................. 5,990.2 6,017.0 5,935.5 5,991.8 6,039.7 6,032.9 6,006.5 5,988.8 -------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars -------------------------------------------------------------------------------- Personal consumption expenditures.......... 208.4 -51.2 -174.2 183.4 -23.5 -3.3 -89.8 -120.0 Goods.................................... 94.6 -80.6 -94.9 132.7 -46.8 3.7 -64.8 -105.9 Durable goods.......................... 58.2 -60.6 -63.5 80.0 -31.2 -8.9 -39.0 -82.8 Nondurable goods....................... 37.9 -23.8 -35.7 57.9 -16.9 11.4 -28.1 -30.1 Services................................. 114.6 26.8 -81.5 56.3 21.9 -6.8 -26.4 -17.7 -------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars -------------------------------------------------------------------------------- Personal consumption expenditures.......... 2.3 -.6 -1.9 2.0 -1.0 -.1 -3.8 -5.1 Goods.................................... 3.0 -2.5 -3.0 4.3 -5.6 .5 -7.7 -12.6 Durable goods.......................... 5.0 -4.9 -5.4 7.2 -9.6 -2.9 -12.3 -25.4 Nondurable goods....................... 1.9 -1.2 -1.8 2.9 -3.3 2.3 -5.4 -5.8 Services................................. 1.9 .4 -1.4 .9 1.5 -.5 -1.7 -1.2 --------------------------------------------------------------------------------------------------------------------------- Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Table Ends [Quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------- I 09 II 09 III 09 IV 09 I 10 II 10 III 10 IV 10 I 11 II 11 ----------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,040.9 8,998.5 9,050.3 9,060.2 9,121.2 9,186.9 9,247.1 9,328.4 9,376.7 9,378.9 Goods.................................... 3,082.6 3,064.3 3,120.7 3,124.6 3,173.3 3,202.9 3,240.8 3,306.0 3,344.4 3,333.1 Durable goods.......................... 1,094.6 1,083.4 1,134.5 1,120.8 1,147.5 1,169.3 1,194.1 1,242.4 1,277.4 1,263.1 Nondurable goods....................... 1,980.3 1,972.8 1,982.7 1,997.7 2,021.1 2,030.8 2,045.8 2,067.4 2,075.4 2,076.0 Services................................. 5,953.5 5,928.6 5,926.8 5,932.9 5,947.4 5,984.3 6,008.1 6,027.5 6,039.1 6,051.8 ---------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -35.1 -42.4 51.8 9.9 61.0 65.7 60.2 81.3 48.3 2.2 Goods.................................... .6 -18.3 56.4 3.9 48.7 29.6 37.9 65.2 38.4 -11.3 Durable goods.......................... 6.6 -11.2 51.1 -13.7 26.7 21.8 24.8 48.3 35.0 -14.3 Nondurable goods....................... -5.0 -7.5 9.9 15.0 23.4 9.7 15.0 21.6 8.0 .6 Services................................. -35.3 -24.9 -1.8 6.1 14.5 36.9 23.8 19.4 11.6 12.7 ---------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -1.5 -1.9 2.3 .4 2.7 2.9 2.6 3.6 2.1 .1 Goods.................................... .1 -2.3 7.6 .5 6.4 3.8 4.8 8.3 4.7 -1.3 Durable goods.......................... 2.4 -4.0 20.3 -4.8 9.9 7.8 8.8 17.2 11.7 -4.4 Nondurable goods....................... -1.0 -1.5 2.0 3.1 4.8 1.9 3.0 4.3 1.6 .1 Services................................. -2.3 -1.7 -.1 .4 1.0 2.5 1.6 1.3 .8 .8 ----------------------------------------------------------------------------------------------------------------------------------------------- Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 107.566 107.807 108.184 108.529 108.977 109.650 110.235 110.143 110.275 109.710 108.395 107.847 108.014 108.333 Goods.................................... 105.138 105.299 105.631 105.897 106.343 107.589 108.726 108.232 108.352 106.502 102.542 100.700 101.074 101.922 Durable goods.......................... 95.574 95.422 95.348 94.982 94.744 94.689 94.743 94.575 94.338 94.184 93.696 93.242 93.190 93.262 Nondurable goods....................... 110.784 111.124 111.691 112.325 113.172 115.182 116.949 116.253 116.563 113.728 107.829 105.208 105.817 107.096 Services................................. 108.886 109.172 109.575 109.964 110.415 110.781 111.071 111.198 111.344 111.458 111.514 111.635 111.699 111.746 Addenda: PCE excluding food and energy............ 106.031 106.166 106.427 106.617 106.846 107.069 107.233 107.373 107.548 107.613 107.649 107.670 107.779 107.919 Food\1\.................................. 108.424 108.952 109.131 110.588 110.925 111.624 112.878 113.544 114.267 114.709 114.943 114.807 114.864 114.563 Energy goods and services\2\............. 131.745 133.405 136.047 137.429 141.873 150.477 157.683 152.337 150.732 137.451 110.675 99.889 101.351 105.673 Market-based PCE\3\...................... 107.520 107.803 108.143 108.410 108.826 109.552 110.268 110.191 110.358 109.796 108.326 107.715 107.999 108.417 Market-based PCE excluding food and energy\3\........................... 105.728 105.895 106.092 106.167 106.323 106.533 106.781 106.975 107.198 107.368 107.447 107.488 107.721 107.945 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .3 .2 .3 .3 .4 .6 .5 -.1 .1 -.5 -1.2 -.5 .2 .3 Goods.................................... .4 .2 .3 .3 .4 1.2 1.1 -.5 .1 -1.7 -3.7 -1.8 .4 .8 Durable goods.......................... .0 -.2 -.1 -.4 -.3 -.1 .1 -.2 -.3 -.2 -.5 -.5 -.1 .1 Nondurable goods....................... .6 .3 .5 .6 .8 1.8 1.5 -.6 .3 -2.4 -5.2 -2.4 .6 1.2 Services................................. .2 .3 .4 .4 .4 .3 .3 .1 .1 .1 .1 .1 .1 .0 Addenda: PCE excluding food and energy............ .2 .1 .2 .2 .2 .2 .2 .1 .2 .1 .0 .0 .1 .1 Food\1\.................................. .9 .5 .2 1.3 .3 .6 1.1 .6 .6 .4 .2 -.1 .0 -.3 Energy goods and services\2\............. .6 1.3 2.0 1.0 3.2 6.1 4.8 -3.4 -1.1 -8.8 -19.5 -9.7 1.5 4.3 Market-based PCE\3\...................... .4 .3 .3 .2 .4 .7 .7 -.1 .2 -.5 -1.3 -.6 .3 .4 Market-based PCE excluding food and energy\3\........................... .3 .2 .2 .1 .1 .2 .2 .2 .2 .2 .1 .0 .2 .2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 108.235 108.420 108.557 109.133 109.229 109.560 109.750 110.101 110.316 110.380 110.654 110.747 110.921 110.962 Goods.................................... 101.729 102.032 102.195 103.565 103.572 104.094 104.355 104.485 104.732 104.754 105.294 105.197 105.096 104.881 Durable goods.......................... 93.156 93.221 93.151 93.170 92.676 92.403 92.564 92.750 92.751 92.520 92.375 92.102 92.084 91.895 Nondurable goods....................... 106.852 107.285 107.573 109.692 109.978 110.963 111.280 111.378 111.764 111.931 112.863 112.868 112.722 112.494 Services................................. 111.699 111.825 111.951 112.117 112.258 112.489 112.643 113.109 113.307 113.392 113.523 113.715 114.036 114.212 Addenda: PCE excluding food and energy............ 108.041 108.316 108.465 108.644 108.725 108.877 109.062 109.410 109.502 109.552 109.661 109.762 109.966 110.028 Food\1\.................................. 114.260 113.850 113.438 113.503 113.042 113.068 112.735 112.809 112.826 112.976 113.146 113.365 113.636 113.892 Energy goods and services\2\............. 102.165 101.660 102.374 110.419 111.564 115.407 116.436 117.219 119.818 119.989 123.172 122.964 122.498 121.842 Market-based PCE\3\...................... 108.375 108.521 108.625 109.224 109.288 109.649 109.803 110.029 110.207 110.277 110.527 110.579 110.651 110.671 Market-based PCE excluding food and energy\3\........................... 108.168 108.412 108.523 108.665 108.707 108.865 109.007 109.210 109.239 109.295 109.350 109.405 109.494 109.536 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.1 .2 .1 .5 .1 .3 .2 .3 .2 .1 .2 .1 .2 .0 Goods.................................... -.2 .3 .2 1.3 .0 .5 .3 .1 .2 .0 .5 -.1 -.1 -.2 Durable goods.......................... -.1 .1 -.1 .0 -.5 -.3 .2 .2 .0 -.2 -.2 -.3 .0 -.2 Nondurable goods....................... -.2 .4 .3 2.0 .3 .9 .3 .1 .3 .1 .8 .0 -.1 -.2 Services................................. .0 .1 .1 .1 .1 .2 .1 .4 .2 .1 .1 .2 .3 .2 Addenda: PCE excluding food and energy............ .1 .3 .1 .2 .1 .1 .2 .3 .1 .0 .1 .1 .2 .1 Food\1\.................................. -.3 -.4 -.4 .1 -.4 .0 -.3 .1 .0 .1 .2 .2 .2 .2 Energy goods and services\2\............. -3.3 -.5 .7 7.9 1.0 3.4 .9 .7 2.2 .1 2.7 -.2 -.4 -.5 Market-based PCE\3\...................... .0 .1 .1 .6 .1 .3 .1 .2 .2 .1 .2 .0 .1 .0 Market-based PCE excluding food and energy\3\........................... .2 .2 .1 .1 .0 .1 .1 .2 .0 .1 .1 .1 .1 .0 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 110.906 110.726 110.974 111.153 111.281 111.522 111.609 111.889 112.299 112.747 113.194 113.562 113.749 113.554 Goods.................................... 104.303 103.674 104.195 104.548 104.748 105.140 105.179 105.783 106.586 107.396 108.254 108.936 108.930 108.387 Durable goods.......................... 91.670 91.353 91.056 91.133 90.984 90.760 90.559 90.203 90.253 90.438 90.394 90.621 90.724 90.895 Nondurable goods....................... 111.713 110.906 111.902 112.415 112.819 113.577 113.759 114.939 116.199 117.389 118.801 119.756 119.681 118.705 Services................................. 114.435 114.494 114.595 114.682 114.770 114.928 115.041 115.144 115.336 115.584 115.801 115.997 116.291 116.288 Addenda: PCE excluding food and energy............ 110.174 110.241 110.288 110.368 110.404 110.473 110.560 110.571 110.803 110.974 111.112 111.308 111.586 111.712 Food\1\.................................. 113.881 113.681 113.738 113.837 114.147 114.244 114.275 114.400 115.158 116.089 117.106 117.595 117.999 118.170 Energy goods and services\2\............. 118.257 113.967 117.861 119.828 121.256 124.625 124.778 129.905 132.887 137.557 142.690 145.961 144.180 137.677 Market-based PCE\3\...................... 110.577 110.415 110.709 110.921 111.053 111.233 111.312 111.637 111.996 112.514 112.984 113.408 113.591 113.449 Market-based PCE excluding food and energy\3\........................... 109.669 109.796 109.866 109.968 109.993 109.966 110.044 110.066 110.213 110.421 110.539 110.773 111.061 111.298 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.1 -.2 .2 .2 .1 .2 .1 .3 .4 .4 .4 .3 .2 -.2 Goods.................................... -.6 -.6 .5 .3 .2 .4 .0 .6 .8 .8 .8 .6 .0 -.5 Durable goods.......................... -.2 -.3 -.3 .1 -.2 -.2 -.2 -.4 .1 .2 .0 .3 .1 .2 Nondurable goods....................... -.7 -.7 .9 .5 .4 .7 .2 1.0 1.1 1.0 1.2 .8 -.1 -.8 Services................................. .2 .1 .1 .1 .1 .1 .1 .1 .2 .2 .2 .2 .3 .0 Addenda: PCE excluding food and energy............ .1 .1 .0 .1 .0 .1 .1 .0 .2 .2 .1 .2 .2 .1 Food\1\.................................. .0 -.2 .1 .1 .3 .1 .0 .1 .7 .8 .9 .4 .3 .1 Energy goods and services\2\............. -2.9 -3.6 3.4 1.7 1.2 2.8 .1 4.1 2.3 3.5 3.7 2.3 -1.2 -4.5 Market-based PCE\3\...................... -.1 -.1 .3 .2 .1 .2 .1 .3 .3 .5 .4 .4 .2 -.1 Market-based PCE excluding food and energy\3\........................... .1 .1 .1 .1 .0 .0 .1 .0 .1 .2 .1 .2 .3 .2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. 2.5 2.6 2.6 2.0 7.0 4.4 2.5 1.5 1.0 1.0 1.6 .5 -.2 -1.7 Personal consumption expenditures.......... 1.2 .7 .8 .6 .4 .4 -.4 -.9 -1.6 -2.0 -2.5 -3.1 -2.6 -2.5 Goods.................................... .6 -.5 .0 .0 -.6 -.3 -2.1 -2.0 -4.9 -5.9 -6.1 -7.4 -5.3 -4.2 Durable goods.......................... 1.9 .5 -.2 -.4 -2.1 -1.8 -4.2 -4.2 -8.9 -12.6 -12.7 -13.6 -10.1 -9.7 Nondurable goods....................... -.1 -1.0 .2 .2 .2 .5 -1.0 -.8 -2.7 -2.4 -2.7 -4.2 -2.8 -1.4 Services................................. 1.5 1.3 1.1 .9 .9 .7 .5 -.3 .2 .0 -.5 -.9 -1.2 -1.6 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. -2.1 -1.3 -4.5 -3.8 -2.7 -2.2 -2.1 -2.6 -2.9 -1.7 -1.4 .0 .6 .8 Personal consumption expenditures.......... -3.0 -3.2 -3.1 -3.0 -2.2 -1.1 -1.4 -.7 -.4 .6 .2 .8 1.7 1.9 Goods.................................... -5.8 -6.2 -5.6 -5.5 -3.5 -1.2 -1.7 .1 1.1 2.9 1.6 2.5 4.8 4.9 Durable goods.......................... -10.8 -11.8 -10.4 -9.2 -4.9 .3 -4.8 .5 3.1 5.5 1.7 3.9 9.0 9.3 Nondurable goods....................... -3.4 -3.4 -3.3 -3.6 -2.8 -1.9 -.2 -.1 .3 1.7 1.5 1.9 2.8 2.9 Services................................. -1.5 -1.7 -1.8 -1.8 -1.6 -1.1 -1.3 -1.1 -1.2 -.5 -.5 .0 .2 .5 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. .1 2.1 2.7 3.3 3.1 3.8 3.6 3.2 2.7 2.6 2.3 1.7 1.1 1.1 Personal consumption expenditures.......... 2.1 2.3 2.1 1.6 2.7 2.9 3.2 2.8 2.9 2.9 2.6 2.4 2.0 1.8 Goods.................................... 4.2 4.5 3.8 2.2 5.6 6.1 5.9 5.4 5.8 5.9 4.5 4.7 3.9 3.6 Durable goods.......................... 7.6 7.0 6.2 -.4 10.5 12.2 10.2 10.2 12.0 12.8 9.3 9.2 7.6 7.2 Nondurable goods....................... 2.7 3.3 2.7 3.5 3.3 3.4 3.9 3.2 3.0 2.8 2.3 2.6 2.2 1.9 Services................................. 1.1 1.2 1.3 1.4 1.4 1.3 1.9 1.6 1.5 1.4 1.7 1.3 1.1 1.0 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 3.5 3.4 3.4 3.5 3.6 4.1 4.4 4.3 4.0 3.2 1.4 .6 .4 .5 Goods.................................... 4.1 3.8 3.5 3.5 3.4 4.7 5.7 5.6 5.2 3.2 -1.8 -3.8 -3.9 -3.2 Durable goods.......................... -1.7 -1.8 -1.7 -1.8 -2.0 -2.1 -1.7 -1.5 -1.6 -1.8 -2.2 -2.4 -2.5 -2.3 Nondurable goods....................... 7.3 7.0 6.3 6.4 6.3 8.3 9.6 9.3 8.8 5.8 -1.5 -4.5 -4.5 -3.6 Services................................. 3.3 3.2 3.3 3.4 3.7 3.8 3.8 3.6 3.4 3.2 3.0 2.8 2.6 2.4 Addenda: PCE excluding food and energy............ 2.3 2.2 2.3 2.4 2.5 2.5 2.5 2.5 2.4 2.2 2.0 1.8 1.6 1.7 Food\1\.................................. 5.3 4.9 4.4 5.5 5.4 5.6 6.6 6.8 7.2 7.2 7.0 6.8 5.9 5.1 Energy goods and services\2\............. 21.4 20.9 18.0 17.3 17.9 25.4 31.1 28.8 24.7 13.0 -14.3 -23.7 -23.1 -20.8 Market-based PCE\3\...................... 3.7 3.6 3.5 3.5 3.5 4.1 4.6 4.6 4.3 3.5 1.4 .5 .4 .6 Market-based PCE excluding food and energy\3\........................... 2.2 2.2 2.3 2.2 2.2 2.3 2.4 2.5 2.5 2.3 2.2 2.0 1.9 1.9 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... .0 -.1 -.4 -.5 -.9 -.5 -.5 .4 1.8 2.3 2.4 2.2 2.5 2.3 Goods.................................... -3.7 -3.6 -3.9 -3.7 -4.7 -3.8 -3.7 -1.9 2.1 4.0 4.2 3.2 3.3 2.8 Durable goods.......................... -2.3 -1.9 -1.7 -1.6 -2.2 -2.3 -1.9 -1.5 -1.0 -.8 -.9 -1.2 -1.2 -1.4 Nondurable goods....................... -4.3 -4.5 -4.9 -4.8 -6.0 -4.6 -4.5 -2.1 3.6 6.4 6.7 5.4 5.5 4.9 Services................................. 1.9 1.7 1.4 1.2 1.1 1.2 1.2 1.5 1.6 1.6 1.6 1.8 2.1 2.1 Addenda: PCE excluding food and energy............ 1.5 1.6 1.5 1.5 1.4 1.4 1.4 1.7 1.7 1.7 1.7 1.7 1.8 1.6 Food\1\.................................. 4.7 2.9 2.3 1.7 .1 -.4 -1.3 -1.7 -1.8 -1.6 -1.5 -1.0 -.5 .0 Energy goods and services\2\............. -24.9 -26.0 -27.8 -26.6 -29.2 -24.2 -22.8 -14.7 8.3 20.1 21.5 16.4 19.9 19.9 Market-based PCE\3\...................... .2 .1 -.2 -.3 -.9 -.5 -.5 .2 1.7 2.4 2.3 2.0 2.1 2.0 Market-based PCE excluding food and energy\3\........................... 2.0 2.1 2.1 2.0 1.8 1.8 1.7 1.7 1.7 1.7 1.5 1.4 1.2 1.0 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 2.2 1.5 1.6 1.5 1.4 1.3 1.2 1.4 1.5 1.8 2.0 2.3 2.6 2.6 Goods.................................... 2.1 .1 .6 .4 .4 .6 .4 1.0 1.2 2.1 3.0 3.9 4.4 4.5 Durable goods.......................... -1.6 -2.0 -1.7 -1.4 -1.7 -2.1 -2.4 -2.5 -2.3 -1.8 -1.8 -1.4 -1.0 -.5 Nondurable goods....................... 3.8 1.1 1.7 1.3 1.4 2.0 1.8 2.7 3.0 4.0 5.4 6.5 7.1 7.0 Services................................. 2.2 2.1 2.1 1.9 1.9 1.6 1.5 1.5 1.6 1.6 1.5 1.6 1.6 1.6 Addenda: PCE excluding food and energy............ 1.6 1.5 1.4 1.4 1.2 1.0 1.0 .9 1.0 1.1 1.0 1.2 1.3 1.3 Food\1\.................................. .4 .2 .6 .7 1.3 1.3 1.3 1.3 1.8 2.4 3.1 3.3 3.6 3.9 Energy goods and services\2\............. 15.5 3.2 5.6 3.8 4.1 6.3 4.1 8.3 7.9 11.9 16.5 19.8 21.9 20.8 Market-based PCE\3\...................... 1.8 1.1 1.3 1.2 1.1 1.1 1.0 1.2 1.3 1.7 2.1 2.5 2.7 2.7 Market-based PCE excluding food and energy\3\........................... 1.1 1.0 1.1 1.0 .9 .7 .7 .7 .8 .9 1.0 1.1 1.3 1.4 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary 1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. 2. Consists of gasoline and other energy goods and of electricity and gas services. 3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 12. Revisions to Personal Income and Its Disposition ------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ------------------------ ------------------------ Revisions as a Revised Revisions to percentage of estimates previously previously published published ------------------------ ------------------------ ------------------------ 2008 2009 2010 2008 2009 2010 2008 2009 2010 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,460.2 11,930.2 12,373.5 69.1 -244.7 -167.5 .6 -2.0 -1.3 Compensation of employees, received...... 8,073.3 7,801.4 7,971.4 7.5 -5.3 -13.1 .1 -.1 -.2 Wage and salary disbursements.......... 6,550.9 6,270.3 6,408.2 -8.1 -3.8 9.3 -.1 -.1 .1 Private industries................... 5,406.8 5,095.0 5,217.4 -8.3 -5.5 5.6 -.2 -.1 .1 Goods-producing industries......... 1,207.7 1,063.4 1,059.2 .1 -.6 3.5 .0 -.1 .3 Manufacturing.................... 740.9 660.9 674.2 -.3 -.6 .7 .0 -.1 .1 Services-producing industries...... 4,199.0 4,031.7 4,158.2 -8.4 -4.9 2.1 -.2 -.1 .1 Trade, transportation, and utilities....................... 1,049.7 989.6 1,006.0 -1.2 -.9 -1.3 -.1 -.1 -.1 Other services-producing industries...................... 3,149.3 3,042.0 3,152.2 -7.3 -4.1 3.3 -.2 -.1 .1 Government........................... 1,144.1 1,175.3 1,190.8 .1 1.7 3.7 .0 .1 .3 Supplements to wages and salaries...... 1,522.5 1,531.1 1,563.1 15.7 -1.5 -22.5 1.0 -.1 -1.4 Employer contributions for employee pension and insurance funds......... 1,052.4 1,073.1 1,089.9 15.8 1.1 -16.9 1.5 .1 -1.5 Employer contributions for government social insurance.................... 470.1 458.0 473.2 .0 -2.6 -5.6 .0 -.6 -1.2 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,097.9 941.2 1,036.4 -4.1 -70.7 -18.6 -.4 -7.0 -1.8 Farm................................... 51.8 39.2 52.2 1.0 8.7 7.3 2.0 28.5 16.3 Nonfarm................................ 1,046.1 902.0 984.2 -5.1 -79.5 -25.9 -.5 -8.1 -2.6 Rental income of persons with capital consumption adjustment.................. 231.6 305.9 350.2 9.6 31.9 49.3 4.3 11.6 16.4 Personal income receipts on assets....... 2,165.4 1,707.7 1,721.2 56.1 -212.0 -186.4 2.7 -11.0 -9.8 Personal interest income............... 1,382.0 1,108.9 1,003.4 67.3 -113.4 -191.5 5.1 -9.3 -16.0 Personal dividend income............... 783.4 598.8 717.7 -11.2 -98.6 5.0 -1.4 -14.1 .7 Personal current transfer receipts....... 1,879.2 2,138.1 2,281.2 .0 5.3 -15.2 .0 .2 -.7 Government social benefits to persons.. 1,842.4 2,099.9 2,242.9 -.2 3.1 -16.1 .0 .1 -.7 Other current transfer receipts, from business (net)........................ 36.8 38.2 38.3 .1 2.2 .9 .3 6.1 2.4 Less: Contributions for government social insurance, domestic..................... 987.3 964.1 986.8 .1 -6.2 -16.7 .0 -.6 -1.7 Less: Personal current taxes............... 1,435.7 1,141.4 1,193.9 -2.5 1.4 27.6 -.2 .1 2.4 Equals: Disposable personal income......... 11,024.5 10,788.8 11,179.7 71.6 -246.1 -195.0 .7 -2.2 -1.7 Less: Personal outlays..................... 10,432.2 10,236.3 10,586.9 -72.8 -143.3 -133.8 -.7 -1.4 -1.2 Personal consumption expenditures........ 10,035.5 9,866.1 10,245.5 -69.0 -135.2 -103.6 -.7 -1.4 -1.0 Goods.................................. 3,381.7 3,197.5 3,387.0 2.2 -33.2 -38.7 .1 -1.0 -1.1 Durable goods........................ 1,108.9 1,029.6 1,085.5 25.4 3.1 -3.9 2.3 .3 -.4 Nondurable goods..................... 2,272.8 2,167.8 2,301.5 -23.2 -36.4 -34.8 -1.0 -1.7 -1.5 Services............................... 6,653.8 6,668.7 6,858.5 -71.2 -101.9 -64.9 -1.1 -1.5 -.9 Personal interest payments\1\............ 245.6 213.7 173.4 -.6 -3.1 -25.5 -.2 -1.4 -12.8 Personal current transfer payments....... 151.0 156.5 168.0 -3.3 -4.9 -4.7 -2.1 -3.0 -2.7 To government.......................... 84.9 89.1 95.1 -4.8 -5.9 -5.7 -5.4 -6.2 -5.7 To the rest of the world (net)......... 66.2 67.4 72.9 1.6 .9 1.0 2.5 1.4 1.4 Equals: Personal saving.................... 592.3 552.6 592.8 144.4 -102.7 -61.1 ..... ..... ..... Personal saving as a percentage of disposable personal income.............. 5.4 5.1 5.3 1.3 -.8 -.4 ..... ..... ..... Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\2\............... 9,712.3 8,969.7 9,083.0 73.8 -221.4 -136.6 .8 -2.4 -1.5 Disposable personal income: Total, billions of chained (2005) dollars\2\............................ 10,119.5 9,882.7 10,061.6 76.6 -217.1 -175.0 .8 -2.1 -1.7 Per capita: Current dollars...................... 36,166 35,088 36,051 235 -800 -629 .7 -2.2 -1.7 Chained (2005) dollars............... 33,197 32,141 32,446 251 -706 -564 .8 -2.1 -1.7 Population (midperiod, thousands)\3\..... 304,831 307,483 310,106 0 0 0 .0 .0 .0 ------------------------------------------------------------------------------------------------------------------------------------- 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. Note. Comparisons of the revised estimates for components of government social benefits to persons with previously published estimates are not shown because the composition of these components changed as part of the new classifications adopted for government social benefits to persons, which are shown in tables 1 through 4. Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------------- Jan 08 Feb 08 Mar 08 Apr 08 May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Feb 09 ---------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 119.0 68.9 70.4 -28.9 180.0 -14.7 -124.1 30.3 -14.2 -57.7 -103.8 -140.9 -135.8 -130.5 Previously published............ 30.8 36.0 55.2 -12.7 185.6 2.0 -114.4 52.9 6.3 -33.9 -58.9 -118.4 -97.5 -88.0 Disposable personal income........ 125.3 58.4 55.0 -22.5 569.4 -218.5 -116.6 -100.1 1.3 -42.1 -76.8 -114.4 31.6 -100.7 Previously published............ 32.1 29.5 47.4 7.2 578.6 -209.0 -123.5 -90.1 16.4 -19.4 -34.0 -90.7 70.9 -56.2 Personal consumption expenditures. 11.3 -17.3 46.6 37.7 40.2 54.5 -5.2 -27.2 -51.3 -100.3 -145.2 -102.2 53.7 -2.3 Previously published............ 13.4 -10.1 52.7 41.3 36.9 58.8 -3.9 -20.9 -44.1 -80.9 -124.1 -104.2 64.4 10.6 Personal saving as a percentage of disposable personal income...... 3.7 4.4 4.5 3.9 8.3 6.1 5.1 4.5 5.0 5.7 6.5 6.5 6.2 5.4 Previously published.............. 2.4 2.8 2.8 2.5 7.1 4.8 3.8 3.2 3.8 4.5 5.4 5.7 5.6 5.0 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal income..................... 1.0 .6 .6 -.2 1.4 -.1 -1.0 .2 -.1 -.5 -.8 -1.1 -1.1 -1.1 Previously published.............. .3 .3 .4 -.1 1.5 .0 -.9 .4 .1 -.3 -.5 -1.0 -.8 -.7 Disposable personal income.......... 1.2 .5 .5 -.2 5.2 -1.9 -1.0 -.9 .0 -.4 -.7 -1.0 .3 -.9 Previously published.............. .3 .3 .4 .1 5.4 -1.8 -1.1 -.8 .1 -.2 -.3 -.8 .7 -.5 Personal consumption expenditures... .1 -.2 .5 .4 .4 .5 -.1 -.3 -.5 -1.0 -1.5 -1.0 .6 .0 Previously published.............. .1 -.1 .5 .4 .4 .6 .0 -.2 -.4 -.8 -1.2 -1.0 .7 .1 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... .9 .3 .2 -.5 4.8 -2.5 -1.6 -.8 -.1 .1 .5 -.5 .1 -1.2 Previously published.............. .0 .1 .0 -.2 4.9 -2.5 -1.6 -.7 .0 .4 .9 -.4 .5 -.8 Real personal consumption expenditures....................... -.2 -.4 .1 .1 .0 -.1 -.6 -.2 -.6 -.5 -.3 -.5 .4 -.3 Previously published.............. -.2 -.3 .1 .1 -.1 -.1 -.6 -.1 -.5 -.2 -.1 -.6 .5 -.2 ---------------------------------------------------------------------------------------------------------------------------------------------------- Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------------- Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 ---------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... -73.0 15.0 156.7 -142.7 -38.7 6.0 22.9 -16.5 57.8 74.2 92.8 28.0 58.1 86.1 Previously published............ -24.9 63.2 200.3 -121.8 -40.7 25.5 -4.1 9.0 58.7 63.3 23.6 12.9 52.2 89.1 Disposable personal income........ -40.6 57.3 160.9 -139.6 -40.8 3.6 22.9 -16.7 52.6 70.0 82.1 25.3 49.3 75.5 Previously published............ 14.7 118.2 211.1 -116.7 -47.4 17.3 -2.0 10.1 58.1 64.3 7.3 12.4 48.5 82.9 Personal consumption expenditures. -45.7 -.2 22.3 49.4 34.1 118.8 -72.6 55.7 19.5 57.1 20.0 44.2 58.8 11.5 Previously published............ -44.7 4.0 16.5 55.2 20.7 119.0 -65.1 61.0 30.2 40.2 14.4 47.1 49.8 -4.5 Personal saving as a percentage of disposable personal income...... 5.4 5.9 7.1 5.5 4.8 3.7 4.6 4.0 4.3 4.5 5.0 4.8 4.8 5.4 Previously published.............. 5.6 6.6 8.2 6.7 6.1 5.1 5.7 5.3 5.6 5.8 5.7 5.4 5.3 6.0 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal income..................... -.6 .1 1.3 -1.2 -.3 .0 .2 -.1 .5 .6 .8 .2 .5 .7 Previously published.............. -.2 .5 1.7 -1.0 -.3 .2 .0 .1 .5 .5 .2 .1 .4 .7 Disposable personal income.......... -.4 .5 1.5 -1.3 -.4 .0 .2 -.2 .5 .6 .8 .2 .4 .7 Previously published.............. .1 1.1 1.9 -1.0 -.4 .2 .0 .1 .5 .6 .1 .1 .4 .7 Personal consumption expenditures... -.5 .0 .2 .5 .3 1.2 -.7 .6 .2 .6 .2 .4 .6 .1 Previously published.............. -.5 .0 .2 .6 .2 1.2 -.6 .6 .3 .4 .1 .5 .5 .0 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... -.3 .4 1.4 -1.8 -.5 -.3 .0 -.5 .3 .6 .5 .1 .3 .6 Previously published.............. .2 .9 1.8 -1.6 -.5 -.1 -.2 -.2 .3 .4 -.2 .1 .3 .8 Real personal consumption expenditures....................... -.4 -.2 .1 .0 .3 .9 -.9 .2 .0 .5 .0 .4 .4 .1 Previously published.............. -.4 -.1 .0 .0 .1 .9 -.8 .3 .1 .2 -.1 .4 .3 .0 ---------------------------------------------------------------------------------------------------------------------------------------------------- Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Table Ends -------------------------------------------------------------------------------------------------------------------------------------------- May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 -------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates -------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 71.9 17.4 48.0 63.6 4.9 68.3 15.8 63.2 144.2 62.8 55.4 52.9 23.2 Previously published............ 54.3 7.2 18.8 56.5 -3.0 53.4 25.6 54.5 137.2 49.9 56.5 37.7 36.2 Disposable personal income........ 57.9 10.6 31.9 50.0 -4.3 56.7 11.0 55.4 40.8 49.6 45.5 45.8 17.6 Previously published............ 46.0 7.0 .2 48.2 -9.1 39.9 22.4 46.9 53.6 40.1 49.0 27.9 29.2 Personal consumption expenditures. 25.5 -4.0 37.3 58.4 29.3 61.8 40.3 38.4 41.9 79.7 61.5 20.4 5.9 Previously published............ 16.9 -3.3 33.3 51.1 30.4 73.9 33.9 40.7 42.0 83.0 64.3 28.8 4.6 Personal saving as a percentage of disposable personal income...... 5.6 5.8 5.7 5.6 5.4 5.3 5.1 5.2 5.2 4.9 4.7 4.9 5.0 Previously published.............. 6.2 6.3 6.1 6.1 5.8 5.4 5.3 5.4 5.4 5.0 4.9 4.9 5.0 -------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates -------------------------------------------------------------------------------------------------------- Personal income..................... .6 .1 .4 .5 .0 .5 .1 .5 1.1 .5 .4 .4 .2 Previously published.............. .4 .1 .2 .4 .0 .4 .2 .4 1.1 .4 .4 .3 .3 Disposable personal income.......... .5 .1 .3 .4 .0 .5 .1 .5 .4 .4 .4 .4 .2 Previously published.............. .4 .1 .0 .4 -.1 .3 .2 .4 .5 .3 .4 .2 .2 Personal consumption expenditures... .3 .0 .4 .6 .3 .6 .4 .4 .4 .8 .6 .2 .1 Previously published.............. .2 .0 .3 .5 .3 .7 .3 .4 .4 .8 .6 .3 .0 -------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates -------------------------------------------------------------------------------------------------------- Real disposable personal income..... .6 .3 .1 .3 -.2 .3 .0 .2 .0 .0 .0 .1 .0 Previously published.............. .5 .2 -.2 .3 -.1 .1 .1 .2 .1 -.1 .0 -.1 .1 Real personal consumption expenditures....................... .3 .1 .1 .4 .2 .4 .3 .1 .0 .4 .2 -.1 -.1 Previously published.............. .3 .1 .1 .3 .2 .5 .3 .1 .0 .4 .2 -.1 -.1 -------------------------------------------------------------------------------------------------------------------------------------------- Table 14. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Years and Quarters) [Quarters seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 I 08 II 08 III 08 IV 08 I 09 II 09 III 09 IV 09 I 10 II 10 III 10 IV 10 I 11 ---------------------------------------------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 547.9 -530.0 443.3 274.2 156.1 -58.4 -173.3 -375.6 -20.3 -70.0 64.1 199.5 187.9 127.6 124.4 251.9 Previously published............ 478.8 -216.2 366.1 159.0 160.5 -13.9 -90.7 -263.1 110.2 -39.4 75.0 111.3 166.8 78.4 105.4 234.2 Disposable personal income........ 600.9 -235.7 390.9 256.2 340.4 -138.8 -163.9 -151.0 57.5 -70.3 58.2 179.6 158.9 90.2 96.3 129.6 Previously published............ 529.3 82.0 339.8 141.2 364.6 -124.5 -91.4 -33.5 211.1 -43.9 74.7 93.9 152.4 49.3 80.5 135.4 Personal consumption expenditures. 263.2 -169.4 379.4 69.8 108.0 9.3 -274.5 -79.6 -.1 129.5 78.9 113.7 81.1 91.8 140.5 154.6 Previously published............ 298.2 -103.2 347.8 77.3 117.3 19.0 -234.8 -54.2 7.1 120.6 90.8 99.3 54.6 80.9 147.3 157.3 Personal saving as a percentage of disposable personal income...... 5.4 5.1 5.3 4.2 6.2 4.9 6.2 5.7 6.2 4.4 4.3 4.9 5.6 5.6 5.2 4.9 Previously published.............. 4.1 5.9 5.7 2.7 4.8 3.6 5.2 5.4 7.2 5.6 5.5 5.5 6.2 6.0 5.4 5.1 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income..................... 4.6 -4.3 3.7 9.3 5.1 -1.8 -5.4 -11.6 -.7 -2.3 2.2 6.9 6.3 4.2 4.1 8.3 Previously published.............. 4.0 -1.7 3.0 5.3 5.3 -.4 -2.9 -8.2 3.7 -1.3 2.5 3.7 5.5 2.5 3.4 7.6 Disposable personal income.......... 5.8 -2.1 3.6 10.0 13.1 -4.9 -5.8 -5.4 2.2 -2.6 2.2 6.8 5.9 3.3 3.5 4.7 Previously published.............. 5.1 .7 3.1 5.4 14.3 -4.4 -3.3 -1.2 8.0 -1.6 2.7 3.4 5.5 1.7 2.8 4.8 Personal consumption expenditures... 2.7 -1.7 3.8 2.8 4.4 .4 -10.4 -3.2 .0 5.4 3.2 4.6 3.2 3.7 5.6 6.1 Previously published.............. 3.0 -1.0 3.5 3.1 4.7 .7 -8.9 -2.2 .3 5.0 3.7 4.0 2.1 3.2 5.8 6.1 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... 2.4 -2.3 1.8 5.9 8.2 -8.8 -.2 -3.8 .3 -5.4 -.6 4.9 5.6 2.3 1.5 .7 Previously published.............. 1.7 .6 1.4 1.4 9.2 -8.4 2.7 .4 5.9 -4.4 .0 1.3 5.6 1.0 1.1 .9 Real personal consumption expenditures....................... -.6 -1.9 2.0 -1.0 -.1 -3.8 -5.1 -1.5 -1.9 2.3 .4 2.7 2.9 2.6 3.6 2.1 Previously published.............. -.3 -1.2 1.7 -.8 .1 -3.5 -3.3 -.5 -1.6 2.0 .9 1.9 2.2 2.4 4.0 2.2 ----------------------------------------------------------------------------------------------------------------------------------------------------