EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, JULY 31, 2012 BEA 12-33 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 2012 REVISED ESTIMATES: 2009 THROUGH MAY 2012 Personal income increased $61.8 billion, or 0.5 percent, and disposable personal income (DPI) increased $52.4 billion, or 0.4 percent, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $1.3 billion, or less than 0.1 percent. In May, personal income increased $39.0 billion, or 0.3 percent, DPI increased $31.7 billion, or 0.3 percent, and PCE decreased $13.3 billion, or 0.1 percent, based on revised estimates. Real disposable income increased 0.3 percent in June, compared with an increase of 0.5 percent in May. Real PCE decreased 0.1 percent, in contrast to an increase of 0.1 percent. 2012 Feb. Mar. Apr. May June (Percent change from preceding month) Personal income, current dollars 0.6 0.5 0.2 0.3 0.5 Disposable personal income: Current dollars 0.6 0.5 0.1 0.3 0.4 Chained (2005) dollars 0.3 0.2 0.1 0.5 0.3 Personal consumption expenditures: Current dollars 0.8 0.3 0.2 -0.1 0.0 Chained (2005) dollars 0.4 0.0 0.2 0.1 -0.1 BOX._______ The estimates released today reflect the results of the annual revision of the national income and product accounts (NIPAs), beginning with estimates for January 2009. 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 2012 Survey of Current Business will contain NIPA tables and an article describing the revisions. The revised estimates will be available on BEA’s Web site at www.bea.gov by August 3, 2012. _______ FOOTNOTE._______ 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. _______ Wages and salaries Private wage and salary disbursements increased $31.9 billion in June, compared with an increase of $9.7 billion in May. Goods-producing industries' payrolls increased $7.7 billion, in contrast to a decrease of $6.5 billion; manufacturing payrolls increased $5.7 billion, in contrast to a decrease of $3.8 billion. Services-producing industries' payrolls increased $24.2 billion, compared with an increase of $16.1 billion. Government wage and salary disbursements increased $0.6 billion, in contrast to a decrease of $0.6 billion. Other personal income Supplements to wages and salaries increased $4.7 billion in June, compared with an increase of $2.9 billion in May. Proprietors' income increased $3.1 billion in June, compared with an increase of $5.8 billion in May. Farm proprietors' income increased $2.0 billion, the same increase as in May. Nonfarm proprietors' income increased $1.1 billion in June, compared with an increase of $3.9 billion in May. Rental income of persons increased $2.5 billion in June, compared with an increase of $2.3 billion in May. Personal income receipts on assets (personal interest income plus personal dividend income) increased $19.3 billion, compared with an increase of $19.8 billion. Personal current transfer receipts increased $3.2 billion in June, in contrast to a decrease of $0.1 billion in May. Within current transfer receipts, government social benefits to persons for social security increased $7.8 billion in June, after remaining flat in May. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $3.5 billion in June, compared with an increase of $0.8 billion in May. Personal current taxes and disposable personal income Personal current taxes increased $9.3 billion in June, compared with an increase of $7.3 billion in May. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $52.4 billion, or 0.4 percent, in June, compared with an increase of $31.7 billion, or 0.3 percent, in May. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $4.8 billion in June, compared with a decrease of $16.7 billion in May. PCE decreased $1.3 billion, compared with a decrease of $13.3 billion. Personal saving -- DPI less personal outlays -- was $529.5 billion in June, compared with $472.4 billion in May. The personal saving rate -- personal saving as a percentage of DPI -- was 4.4 percent in June, compared with 4.0 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, compared with an increase of 0.5 percent in May. Real PCE -- PCE adjusted to remove price changes -- decreased 0.1 percent in June, in contrast to an increase of 0.1 percent in May. Purchases of durable goods increased less than 0.1 percent, in contrast to a decrease of 0.4 percent. Purchases of nondurable goods decreased 0.4 percent, in contrast to an increase of 0.2 percent. Purchases of services decreased less than 0.1 percent, in contrast to an increase of 0.1 percent. PCE price index -- The price index for PCE increased 0.1 percent in June, in contrast to a decrease of 0.2 percent in May. The PCE price index, excluding food and energy, increased 0.2 percent, compared with an increase of 0.1 percent. Revisions of the Personal Income and Outlays Estimates for 2009 - 2011 Revised estimates, which begin with 2009, reflect the results of the annual revision of the national income and product accounts. These revisions, usually made each July, incorporate newly available and more comprehensive source data, as well as improved estimation methodologies. In this annual revision, the notable revisions primarily reflect the incorporation of newly available and revised source data. Revisions to annual estimates of personal income and outlays for 2009-2011 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 down for all 3 years: $63.2 billion, or 0.5 percent, for 2009; $51.6 billion, or 0.4 percent, for 2010; and $43.9 billion, or 0.3 percent, for 2011. For 2009, downward revisions to personal dividend income, to rental income of persons, and to personal interest income were partly offset by an upward revision to nonfarm proprietors’ income. For 2010, a downward revision to personal dividend income was partly offset by upward revisions to nonfarm proprietors’ income and to personal interest income. For 2011, downward revisions to personal dividend income, to government social benefits to persons, and to farm proprietors’ income were partly offset by upward revisions to nonfarm proprietors’ income, to supplements to wages and salaries, and to personal interest income. Disposable personal income (DPI) was revised down for all 3 years: $66.4 billion, or 0.6 percent, for 2009; $52.6 billion, or 0.5 percent, for 2010; and $44.2 billion, or 0.4 percent, for 2011. Personal current taxes was revised up for all 3 years: $3.2 billion for 2009, $0.9 billion for 2010, and $0.3 billion for 2011. The percent change from the preceding year in real DPI was revised down from a decrease of 2.3 percent to a decrease of 2.8 percent for 2009, was unrevised at 1.8 percent for 2010, and was revised up from an increase of 1.2 percent to an increase of 1.3 percent for 2011. Personal outlays was revised down $22.0 billion for 2009, was revised down $26.5 billion for 2010, and was revised up $4.8 billion for 2011. For 2009 and 2010, downward revisions to PCE accounted for most of the revisions to personal outlays. For 2011, upward revisions to personal interest payments and to PCE were partly offset by a downward revision to personal current transfer payments to government. The personal saving rate was revised down for all 3 years: from 5.1 percent to 4.7 percent for 2009, from 5.3 percent to 5.1 percent for 2010, and from 4.6 percent to 4.2 percent for 2011. NOTE. BEA acknowledges the special efforts by the Bureau of Labor Statistics with the assistance of 19 state employment offices in providing preliminary data for the first quarter of 2012 from the quarterly census of employment and wages. Wage and salary data from the state employment offices of California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Massachusetts, Missouri, New Mexico, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, and Utah were provided. These data should greatly improve the estimates of wages and salaries. 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 30, 2012 at 8:30 A.M. EDT for Personal Income and Outlays for July ___________________ 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 12,051.5 11,907.3 11,823.8 11,822.7 11,977.1 11,838.2 11,792.7 11,792.0 11,800.0 11,799.1 Compensation of employees, received...... 7,963.6 7,860.0 7,795.8 7,758.9 7,791.5 7,810.0 7,802.0 7,777.1 7,774.7 7,769.0 7,781.1 Wage and salary disbursements.......... 6,428.3 6,329.1 6,270.8 6,237.4 6,268.8 6,286.6 6,279.1 6,256.0 6,253.3 6,247.3 6,257.9 Private industries................... 5,268.0 5,162.3 5,104.3 5,069.8 5,095.2 5,110.1 5,101.0 5,078.2 5,075.3 5,069.7 5,078.8 Goods-producing industries......... 1,155.7 1,122.5 1,105.9 1,085.1 1,074.8 1,062.2 1,055.1 1,047.8 1,045.4 1,039.4 1,039.5 Manufacturing.................... 707.3 687.7 680.7 670.2 668.7 659.1 654.1 649.6 649.0 649.0 653.5 Services-producing industries...... 4,112.3 4,039.8 3,998.5 3,984.7 4,020.4 4,047.9 4,046.0 4,030.4 4,029.9 4,030.4 4,039.4 Trade, transportation, and utilities....................... 1,023.8 1,013.0 1,002.4 990.2 989.5 991.5 984.6 979.0 983.7 985.4 982.9 Other services-producing industries...................... 3,088.5 3,026.7 2,996.1 2,994.5 3,031.0 3,056.4 3,061.3 3,051.4 3,046.3 3,045.0 3,056.5 Government........................... 1,160.3 1,166.9 1,166.5 1,167.5 1,173.6 1,176.5 1,178.1 1,177.8 1,178.0 1,177.6 1,179.1 Supplements to wages and salaries...... 1,535.2 1,530.8 1,525.0 1,521.5 1,522.7 1,523.4 1,522.9 1,521.1 1,521.4 1,521.7 1,523.1 Employer contributions for employee pension and insurance funds......... 1,071.0 1,069.4 1,067.4 1,065.8 1,064.9 1,064.2 1,064.3 1,064.8 1,065.6 1,066.8 1,068.5 Employer contributions for government social insurance.................... 464.2 461.4 457.5 455.7 457.8 459.1 458.6 456.3 455.8 454.9 454.6 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,016.0 987.1 967.3 954.2 953.7 957.1 960.2 965.2 976.8 985.5 1,001.7 Farm................................... 42.7 35.5 32.6 33.0 36.7 38.9 39.8 39.2 40.1 42.5 46.2 Nonfarm................................ 973.3 951.6 934.7 921.2 917.0 918.2 920.4 925.9 936.6 943.0 955.4 Rental income of persons with capital consumption adjustment.................. 280.2 272.0 268.8 269.7 275.0 281.2 288.1 295.1 299.7 302.0 302.1 Personal income receipts on assets....... 1,991.2 1,897.1 1,810.3 1,736.8 1,670.0 1,631.7 1,601.4 1,561.2 1,534.6 1,517.6 1,505.0 Personal interest income............... 1,294.3 1,222.8 1,175.8 1,133.9 1,121.0 1,108.2 1,097.1 1,074.8 1,055.7 1,039.1 1,026.7 Personal dividend income............... 696.8 674.4 634.6 603.0 549.0 523.5 504.3 486.4 478.9 478.5 478.3 Personal current transfer receipts....... 1,936.7 2,006.9 2,029.3 2,064.6 2,097.0 2,264.1 2,152.4 2,156.1 2,167.4 2,185.4 2,168.7 Government social benefits to persons.. 1,899.4 1,970.4 1,992.3 2,027.2 2,059.1 2,225.7 2,113.4 2,116.4 2,127.1 2,144.4 2,126.9 Social security\1\................... 618.7 648.1 651.9 655.6 661.9 657.4 668.0 665.1 662.0 676.7 673.0 Medicare\2\.......................... 476.2 479.9 483.3 486.6 489.5 492.3 494.8 497.1 499.1 500.9 502.4 Medicaid............................. 347.0 353.2 356.0 361.8 364.1 367.7 373.2 381.7 383.6 379.4 371.1 Unemployment insurance............... 84.3 90.2 101.2 115.1 119.4 130.2 140.7 139.7 148.2 148.0 139.3 Veterans' benefits................... 46.1 50.0 49.3 50.4 50.1 50.0 50.9 51.2 51.8 52.5 52.9 Other................................ 327.2 349.0 350.5 357.8 374.2 528.1 385.8 381.6 382.4 387.0 388.2 Other current transfer receipts, from business (net)........................ 37.3 36.6 36.9 37.4 37.9 38.4 39.0 39.6 40.3 41.0 41.8 Less: Contributions for government social insurance, domestic..................... 976.1 971.7 964.2 960.4 964.6 967.0 965.9 962.0 961.1 959.6 959.6 Less: Personal current taxes............... 1,396.1 1,229.3 1,201.0 1,168.8 1,124.2 1,120.6 1,119.0 1,123.3 1,126.6 1,127.1 1,127.2 Equals: Disposable personal income......... 10,815.4 10,822.2 10,706.3 10,655.0 10,698.5 10,856.6 10,719.2 10,669.4 10,665.5 10,672.9 10,671.8 Less: Personal outlays..................... 10,111.9 10,158.7 10,150.2 10,105.3 10,102.7 10,124.8 10,178.8 10,205.4 10,331.0 10,242.5 10,293.1 Personal consumption expenditures........ 9,744.8 9,790.3 9,780.5 9,734.5 9,730.3 9,753.1 9,808.3 9,834.5 9,960.2 9,871.7 9,925.2 Goods.................................. 3,073.0 3,126.3 3,140.2 3,110.1 3,105.3 3,137.3 3,183.5 3,204.2 3,309.9 3,219.0 3,238.7 Durable goods........................ 1,002.3 1,031.9 1,014.6 1,002.4 993.7 1,014.3 1,023.3 1,036.7 1,109.5 1,011.9 1,021.8 Nondurable goods..................... 2,070.7 2,094.4 2,125.6 2,107.6 2,111.6 2,123.0 2,160.1 2,167.6 2,200.4 2,207.1 2,216.9 Services............................... 6,671.8 6,663.9 6,640.3 6,624.5 6,625.0 6,615.7 6,624.8 6,630.2 6,650.3 6,652.7 6,686.5 Personal interest payments\3\............ 218.6 220.0 221.2 222.3 222.4 221.7 220.3 219.9 219.6 219.4 212.8 Personal current transfer payments....... 148.5 148.4 148.5 148.5 150.0 150.0 150.2 151.1 151.2 151.4 155.1 To government.......................... 86.1 84.7 84.7 84.7 84.8 84.9 85.0 85.1 85.3 85.4 85.6 To the rest of the world (net)......... 62.4 63.7 63.7 63.7 65.2 65.2 65.2 65.9 65.9 65.9 69.4 Equals: Personal saving.................... 703.5 663.5 556.1 549.7 595.8 731.7 540.5 464.0 334.5 430.4 378.8 Personal saving as a percentage of disposable personal income.............. 6.5 6.1 5.2 5.2 5.6 6.7 5.0 4.3 3.1 4.0 3.5 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,527.6 9,305.2 9,130.3 9,031.6 8,990.4 8,968.1 8,885.7 8,838.8 8,800.8 8,776.0 8,760.2 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,028.9 10,025.6 9,895.9 9,860.6 9,889.7 10,024.0 9,833.8 9,786.1 9,752.5 9,742.0 9,707.6 Per capita: Current dollars...................... 35,364 35,363 34,961 34,770 34,889 35,379 34,906 34,717 34,677 34,672 34,641 Chained (2005) dollars............... 32,793 32,760 32,315 32,178 32,251 32,666 32,022 31,843 31,708 31,648 31,511 Population (midperiod, thousands)\5\..... 305,827 306,035 306,237 306,438 306,645 306,863 307,090 307,322 307,570 307,826 308,071 ---------------------------------------------------------------------------------------------------------------------------------------------- 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............................ 11,861.3 11,938.3 12,047.9 12,077.4 12,144.2 12,232.3 12,309.0 12,330.4 12,357.8 12,418.4 12,415.4 Compensation of employees, received...... 7,806.1 7,806.2 7,842.1 7,830.1 7,867.6 7,920.1 7,974.8 7,971.3 8,005.6 8,028.5 8,030.1 Wage and salary disbursements.......... 6,279.6 6,278.1 6,296.7 6,283.3 6,316.2 6,363.8 6,412.7 6,407.2 6,437.4 6,456.2 6,455.5 Private industries................... 5,099.6 5,096.8 5,110.2 5,095.6 5,126.3 5,172.6 5,212.6 5,211.1 5,243.5 5,266.5 5,268.7 Goods-producing industries......... 1,042.9 1,038.8 1,039.1 1,029.0 1,039.1 1,051.0 1,063.5 1,056.1 1,064.8 1,070.7 1,070.0 Manufacturing.................... 659.3 657.2 657.4 650.3 658.7 668.6 679.5 672.7 679.5 682.2 684.5 Services-producing industries...... 4,056.7 4,058.0 4,071.1 4,066.6 4,087.2 4,121.6 4,149.1 4,155.0 4,178.7 4,195.8 4,198.6 Trade, transportation, and utilities....................... 983.9 983.7 987.1 984.8 989.2 998.3 1,005.9 1,006.5 1,015.1 1,013.7 1,017.2 Other services-producing industries...................... 3,072.8 3,074.4 3,084.1 3,081.8 3,098.0 3,123.3 3,143.2 3,148.5 3,163.6 3,182.1 3,181.4 Government........................... 1,180.0 1,181.2 1,186.5 1,187.7 1,189.9 1,191.2 1,200.1 1,196.1 1,193.9 1,189.7 1,186.8 Supplements to wages and salaries...... 1,526.5 1,528.2 1,545.4 1,546.8 1,551.4 1,556.2 1,562.1 1,564.2 1,568.2 1,572.3 1,574.6 Employer contributions for employee pension and insurance funds......... 1,070.7 1,073.5 1,079.6 1,082.8 1,086.0 1,089.1 1,092.5 1,095.7 1,098.9 1,102.0 1,105.3 Employer contributions for government social insurance.................... 455.9 454.7 465.8 464.0 465.4 467.1 469.6 468.5 469.4 470.4 469.3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,015.4 1,028.8 1,041.6 1,048.6 1,066.9 1,095.2 1,105.6 1,113.5 1,110.1 1,118.2 1,123.1 Farm................................... 47.5 46.4 42.7 40.9 40.8 42.6 43.8 44.4 44.4 44.5 44.8 Nonfarm................................ 967.8 982.5 999.0 1,007.7 1,026.1 1,052.6 1,061.8 1,069.1 1,065.7 1,073.7 1,078.2 Rental income of persons with capital consumption adjustment.................. 306.6 316.2 330.5 341.2 348.5 351.6 353.4 353.2 351.3 349.9 348.8 Personal income receipts on assets....... 1,512.6 1,539.8 1,560.2 1,573.6 1,572.0 1,582.6 1,595.1 1,605.6 1,602.7 1,598.3 1,592.9 Personal interest income............... 1,028.0 1,036.4 1,034.8 1,030.9 1,027.1 1,027.1 1,027.1 1,027.1 1,014.9 1,000.9 986.2 Personal dividend income............... 484.6 503.4 525.3 542.7 545.0 555.5 568.0 578.5 587.8 597.5 606.7 Personal current transfer receipts....... 2,182.3 2,207.2 2,249.3 2,256.6 2,264.8 2,262.8 2,265.5 2,270.2 2,274.2 2,311.7 2,307.6 Government social benefits to persons.. 2,139.7 2,163.7 2,204.7 2,211.1 2,218.6 2,216.1 2,218.2 2,222.4 2,226.0 2,263.6 2,259.8 Social security\1\................... 671.5 682.5 677.0 678.2 680.9 687.9 688.8 688.1 693.1 691.3 697.3 Medicare\2\.......................... 503.7 504.8 505.7 506.7 508.0 509.4 511.1 513.0 515.1 517.4 519.9 Medicaid............................. 368.4 370.1 378.4 382.6 383.7 383.0 383.5 389.2 399.8 406.2 410.1 Unemployment insurance............... 149.0 153.5 159.5 155.3 152.3 143.2 140.9 134.9 121.4 145.9 132.1 Veterans' benefits................... 54.2 54.3 54.7 56.5 56.7 56.7 57.7 57.8 58.4 59.3 59.2 Other................................ 392.9 398.5 429.4 431.9 437.0 435.9 436.2 439.4 438.2 443.5 441.1 Other current transfer receipts, from business (net)........................ 42.6 43.6 44.6 45.4 46.1 46.7 47.3 47.9 48.2 48.1 47.8 Less: Contributions for government social insurance, domestic..................... 961.7 960.0 975.8 972.6 975.6 980.0 985.3 983.6 986.1 988.2 987.1 Less: Personal current taxes............... 1,132.3 1,135.5 1,155.2 1,155.2 1,160.3 1,164.0 1,174.4 1,180.7 1,199.3 1,213.6 1,222.6 Equals: Disposable personal income......... 10,729.0 10,802.9 10,892.7 10,922.2 10,983.9 11,068.3 11,134.6 11,149.7 11,158.5 11,204.8 11,192.8 Less: Personal outlays..................... 10,312.7 10,366.0 10,384.6 10,418.1 10,481.8 10,484.9 10,505.5 10,504.9 10,530.4 10,598.2 10,616.0 Personal consumption expenditures........ 9,951.3 10,011.0 10,024.7 10,058.5 10,124.2 10,131.8 10,155.6 10,157.3 10,187.9 10,260.6 10,282.3 Goods.................................. 3,269.3 3,288.6 3,296.8 3,306.0 3,351.7 3,333.5 3,321.9 3,309.7 3,324.5 3,371.9 3,386.5 Durable goods........................ 1,046.2 1,048.7 1,035.6 1,034.3 1,077.4 1,068.6 1,071.5 1,070.5 1,075.2 1,083.2 1,089.5 Nondurable goods..................... 2,223.2 2,239.9 2,261.2 2,271.6 2,274.4 2,264.9 2,250.4 2,239.1 2,249.3 2,288.7 2,297.0 Services............................... 6,681.9 6,722.5 6,727.8 6,752.5 6,772.4 6,798.3 6,833.8 6,847.6 6,863.4 6,888.7 6,895.7 Personal interest payments\3\............ 206.1 199.4 200.2 199.5 197.4 192.8 189.4 187.0 180.7 175.7 171.7 Personal current transfer payments....... 155.3 155.5 159.8 160.0 160.3 160.3 160.5 160.6 161.8 161.9 162.0 To government.......................... 85.9 86.1 86.3 86.6 86.8 87.0 87.2 87.4 87.6 87.7 87.8 To the rest of the world (net)......... 69.4 69.4 73.4 73.4 73.4 73.2 73.2 73.2 74.2 74.2 74.2 Equals: Personal saving.................... 416.2 436.9 508.1 504.1 502.1 583.4 629.1 644.8 628.1 606.6 576.8 Personal saving as a percentage of disposable personal income.............. 3.9 4.0 4.7 4.6 4.6 5.3 5.7 5.8 5.6 5.4 5.2 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 8,783.4 8,823.4 8,864.9 8,879.7 8,917.5 8,998.0 9,065.7 9,079.1 9,086.3 9,091.6 9,080.9 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,736.2 9,795.2 9,854.8 9,875.6 9,914.4 9,989.7 10,050.6 10,062.3 10,054.9 10,079.4 10,055.7 Per capita: Current dollars...................... 34,802 35,018 35,285 35,358 35,536 35,789 35,982 36,007 36,012 36,136 36,073 Chained (2005) dollars............... 31,581 31,752 31,923 31,970 32,076 32,301 32,478 32,496 32,450 32,507 32,408 Population (midperiod, thousands)\5\..... 308,289 308,495 308,706 308,904 309,089 309,268 309,453 309,649 309,858 310,071 310,283 ---------------------------------------------------------------------------------------------------------------------------------------------- 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] ---------------------------------------------------------------------------------------------------------------------------------------------- Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11 Jul 11 Aug 11 ---------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,463.2 12,492.5 12,574.1 12,817.4 12,867.8 12,884.4 12,927.5 12,931.7 12,957.5 12,976.9 12,970.8 Compensation of employees, received...... 8,056.4 8,046.1 8,067.3 8,209.9 8,239.4 8,259.5 8,281.0 8,277.8 8,300.4 8,322.0 8,311.0 Wage and salary disbursements.......... 6,477.5 6,465.4 6,482.8 6,597.0 6,621.8 6,636.8 6,654.0 6,647.8 6,666.7 6,683.9 6,671.3 Private industries................... 5,286.2 5,274.3 5,291.5 5,403.6 5,428.4 5,442.1 5,457.4 5,451.2 5,467.9 5,486.7 5,472.5 Goods-producing industries......... 1,068.5 1,066.8 1,071.0 1,102.7 1,098.6 1,106.5 1,108.0 1,106.6 1,109.0 1,117.5 1,115.3 Manufacturing.................... 683.5 683.6 688.9 709.8 703.6 711.6 708.6 706.7 705.6 712.7 709.0 Services-producing industries...... 4,217.7 4,207.5 4,220.5 4,301.0 4,329.8 4,335.6 4,349.4 4,344.5 4,358.9 4,369.2 4,357.1 Trade, transportation, and utilities....................... 1,018.7 1,013.4 1,016.5 1,038.3 1,044.0 1,046.9 1,047.6 1,044.3 1,048.4 1,056.6 1,052.2 Other services-producing industries...................... 3,199.1 3,194.1 3,204.1 3,262.7 3,285.9 3,288.7 3,301.8 3,300.2 3,310.5 3,312.6 3,304.9 Government........................... 1,191.3 1,191.0 1,191.2 1,193.4 1,193.3 1,194.7 1,196.6 1,196.7 1,198.8 1,197.2 1,198.9 Supplements to wages and salaries...... 1,578.8 1,580.8 1,584.5 1,612.9 1,617.6 1,622.8 1,627.0 1,630.0 1,633.8 1,638.1 1,639.7 Employer contributions for employee pension and insurance funds......... 1,108.8 1,112.1 1,115.5 1,121.3 1,125.1 1,128.7 1,132.2 1,135.5 1,138.6 1,141.6 1,144.2 Employer contributions for government social insurance.................... 470.1 468.7 469.0 491.6 492.6 494.1 494.8 494.5 495.1 496.5 495.5 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,129.3 1,139.4 1,148.8 1,144.3 1,149.9 1,149.8 1,158.8 1,152.2 1,152.9 1,153.0 1,162.4 Farm................................... 45.3 47.1 50.3 54.8 56.8 56.3 53.3 52.0 52.4 54.5 55.6 Nonfarm................................ 1,084.0 1,092.3 1,098.5 1,089.4 1,093.0 1,093.4 1,105.5 1,100.2 1,100.5 1,098.5 1,106.7 Rental income of persons with capital consumption adjustment.................. 347.4 351.9 362.6 379.3 391.5 399.2 401.9 404.8 407.3 409.2 413.1 Personal income receipts on assets....... 1,607.5 1,627.0 1,661.9 1,671.9 1,681.3 1,669.8 1,681.0 1,692.4 1,703.8 1,698.6 1,689.5 Personal interest income............... 996.4 1,007.7 1,019.0 1,017.4 1,017.4 1,017.7 1,021.1 1,025.1 1,029.7 1,017.1 1,004.4 Personal dividend income............... 611.1 619.4 642.9 654.5 663.9 652.2 660.0 667.3 674.2 681.5 685.2 Personal current transfer receipts....... 2,311.7 2,314.9 2,322.1 2,324.4 2,319.9 2,323.1 2,323.7 2,323.0 2,313.0 2,315.8 2,315.0 Government social benefits to persons.. 2,261.8 2,266.1 2,273.9 2,276.7 2,274.1 2,277.3 2,278.1 2,277.9 2,268.3 2,271.1 2,270.8 Social security\1\................... 697.2 696.6 705.7 702.9 701.6 704.9 712.8 711.6 711.7 714.8 715.7 Medicare\2\.......................... 522.6 525.6 528.7 532.0 535.2 538.1 540.7 543.2 545.4 547.4 549.2 Medicaid............................. 412.0 413.6 416.5 418.1 419.2 419.1 412.7 409.1 404.2 399.7 394.9 Unemployment insurance............... 130.0 128.0 122.8 124.5 118.4 114.5 110.5 111.5 104.4 105.0 104.4 Veterans' benefits................... 59.3 59.1 59.7 60.6 60.8 62.1 62.5 61.4 63.2 63.8 65.1 Other................................ 440.6 443.2 440.6 438.7 438.9 438.7 438.8 441.0 439.4 440.4 441.4 Other current transfer receipts, from business (net)........................ 49.9 48.9 48.1 47.7 45.9 45.9 45.6 45.1 44.7 44.7 44.2 Less: Contributions for government social insurance, domestic..................... 989.1 987.0 988.5 912.3 914.1 917.1 918.9 918.4 920.1 921.7 920.2 Less: Personal current taxes............... 1,232.8 1,236.4 1,243.5 1,364.0 1,371.6 1,381.8 1,391.8 1,396.1 1,401.9 1,402.7 1,401.9 Equals: Disposable personal income......... 11,230.4 11,256.1 11,330.6 11,453.4 11,496.2 11,502.5 11,535.7 11,535.7 11,555.5 11,574.2 11,568.9 Less: Personal outlays..................... 10,682.2 10,736.7 10,780.9 10,827.8 10,893.3 10,973.3 11,012.3 11,022.7 11,010.2 11,086.4 11,107.9 Personal consumption expenditures........ 10,350.2 10,405.3 10,450.3 10,496.6 10,561.5 10,640.8 10,680.0 10,692.1 10,682.5 10,758.6 10,778.5 Goods.................................. 3,434.9 3,457.8 3,483.2 3,523.7 3,562.6 3,597.9 3,624.2 3,605.5 3,583.1 3,627.1 3,629.0 Durable goods........................ 1,113.0 1,116.2 1,118.0 1,126.6 1,133.3 1,142.0 1,141.8 1,131.2 1,122.5 1,142.0 1,135.3 Nondurable goods..................... 2,321.9 2,341.6 2,365.2 2,397.2 2,429.3 2,456.0 2,482.4 2,474.3 2,460.6 2,485.1 2,493.7 Services............................... 6,915.3 6,947.6 6,967.1 6,972.9 6,998.9 7,042.9 7,055.8 7,086.6 7,099.4 7,131.5 7,149.5 Personal interest payments\3\............ 171.0 170.3 169.4 169.6 170.1 170.7 170.0 168.1 165.2 165.6 167.0 Personal current transfer payments....... 161.0 161.1 161.2 161.6 161.7 161.8 162.3 162.4 162.6 162.2 162.4 To government.......................... 87.9 88.0 88.1 88.2 88.3 88.3 88.4 88.6 88.7 88.9 89.1 To the rest of the world (net)......... 73.1 73.1 73.1 73.5 73.5 73.5 73.8 73.8 73.8 73.3 73.3 Equals: Personal saving.................... 548.2 519.4 549.7 625.6 603.0 529.2 523.4 513.0 545.3 487.8 461.0 Personal saving as a percentage of disposable personal income.............. 4.9 4.6 4.9 5.5 5.2 4.6 4.5 4.4 4.7 4.2 4.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,098.3 9,111.1 9,157.0 9,348.8 9,366.8 9,341.4 9,349.0 9,331.9 9,354.9 9,347.8 9,321.1 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,065.2 10,076.7 10,120.3 10,204.5 10,209.0 10,174.0 10,170.7 10,147.2 10,155.6 10,148.5 10,119.7 Per capita: Current dollars...................... 36,170 36,231 36,450 36,825 36,944 36,944 37,029 37,007 37,048 37,083 37,041 Chained (2005) dollars............... 32,417 32,435 32,557 32,810 32,807 32,677 32,648 32,553 32,559 32,515 32,401 Population (midperiod, thousands)\5\..... 310,488 310,673 310,850 311,019 311,181 311,351 311,529 311,713 311,908 312,117 312,330 ---------------------------------------------------------------------------------------------------------------------------------------------- 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] ------------------------------------------------------------------------------------------------------------------------------------- Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,981.2 13,025.5 12,994.4 13,032.2 13,141.5 13,224.3 13,286.1 13,311.2 13,350.2 13,412.0 Compensation of employees, received...... 8,321.4 8,360.4 8,323.5 8,336.5 8,433.3 8,490.1 8,530.9 8,532.0 8,543.9 8,581.2 Wage and salary disbursements.......... 6,679.1 6,712.7 6,676.8 6,687.6 6,769.8 6,820.7 6,856.6 6,855.3 6,864.2 6,896.8 Private industries................... 5,482.1 5,519.2 5,484.7 5,495.9 5,572.1 5,621.3 5,656.4 5,655.1 5,664.8 5,696.7 Goods-producing industries......... 1,116.4 1,113.5 1,100.1 1,108.7 1,130.2 1,140.2 1,146.5 1,142.3 1,135.8 1,143.5 Manufacturing.................... 708.6 704.7 695.6 702.5 714.2 719.8 724.8 722.4 718.6 724.3 Services-producing industries...... 4,365.7 4,405.7 4,384.7 4,387.1 4,441.9 4,481.1 4,509.9 4,512.9 4,529.0 4,553.2 Trade, transportation, and utilities....................... 1,053.7 1,058.4 1,055.6 1,055.7 1,075.0 1,086.9 1,089.2 1,092.3 1,096.8 1,103.7 Other services-producing industries...................... 3,312.0 3,347.3 3,329.1 3,331.4 3,366.9 3,394.2 3,420.7 3,420.6 3,432.1 3,449.6 Government........................... 1,197.0 1,193.6 1,192.1 1,191.8 1,197.6 1,199.4 1,200.2 1,200.1 1,199.5 1,200.1 Supplements to wages and salaries...... 1,642.3 1,647.6 1,646.8 1,648.8 1,663.5 1,669.4 1,674.3 1,676.8 1,679.7 1,684.4 Employer contributions for employee pension and insurance funds......... 1,146.9 1,149.3 1,151.6 1,153.6 1,156.9 1,159.5 1,162.3 1,164.9 1,167.6 1,170.3 Employer contributions for government social insurance.................... 495.4 498.3 495.2 495.2 506.6 509.9 512.0 511.9 512.1 514.1 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,168.9 1,163.2 1,162.7 1,169.8 1,174.1 1,188.6 1,190.4 1,194.3 1,200.1 1,203.2 Farm................................... 55.7 54.9 54.3 54.0 53.1 52.3 51.4 53.3 55.3 57.3 Nonfarm................................ 1,113.1 1,108.4 1,108.4 1,115.8 1,121.0 1,136.3 1,139.0 1,140.9 1,144.8 1,145.9 Rental income of persons with capital consumption adjustment.................. 419.2 426.2 431.3 433.3 439.2 445.3 451.3 453.1 455.4 457.9 Personal income receipts on assets....... 1,679.1 1,683.1 1,683.1 1,687.8 1,690.1 1,695.8 1,703.2 1,722.0 1,741.8 1,761.1 Personal interest income............... 991.7 990.2 988.1 985.8 988.8 991.8 994.9 1,004.2 1,013.5 1,022.8 Personal dividend income............... 687.4 692.8 695.0 702.0 701.3 704.0 708.3 717.8 728.3 738.2 Personal current transfer receipts....... 2,313.3 2,318.4 2,314.8 2,326.4 2,341.3 2,346.5 2,356.2 2,355.4 2,355.3 2,358.5 Government social benefits to persons.. 2,269.4 2,274.3 2,270.9 2,282.8 2,296.0 2,301.2 2,310.9 2,309.7 2,309.6 2,312.6 Social security\1\................... 717.5 718.1 718.9 728.7 749.2 752.1 758.2 756.8 756.8 764.6 Medicare\2\.......................... 550.7 552.0 553.2 554.0 554.1 555.7 557.9 556.2 557.4 557.2 Medicaid............................. 393.9 391.9 391.9 392.1 394.8 397.7 400.3 402.4 406.2 406.4 Unemployment insurance............... 99.7 104.7 99.5 98.5 97.5 94.1 91.0 89.5 83.6 78.9 Veterans' benefits................... 65.7 65.2 63.7 65.1 67.3 68.5 70.7 71.1 71.9 71.6 Other................................ 442.0 442.3 443.7 444.4 433.0 433.1 432.8 433.7 433.8 433.9 Other current transfer receipts, from business (net)........................ 43.9 44.1 43.9 43.6 45.2 45.3 45.4 45.8 45.7 45.8 Less: Contributions for government social insurance, domestic..................... 920.6 925.9 921.1 921.6 936.5 942.0 945.9 945.6 946.4 949.9 Less: Personal current taxes............... 1,406.7 1,417.7 1,416.4 1,423.1 1,438.5 1,450.3 1,458.5 1,466.0 1,473.3 1,482.6 Equals: Disposable personal income......... 11,574.6 11,607.8 11,577.9 11,609.1 11,702.9 11,774.0 11,827.6 11,845.2 11,876.9 11,929.3 Less: Personal outlays..................... 11,168.4 11,194.2 11,205.9 11,216.7 11,278.0 11,367.2 11,400.8 11,421.3 11,404.6 11,399.8 Personal consumption expenditures........ 10,836.4 10,861.1 10,874.0 10,886.3 10,941.8 11,025.8 11,054.1 11,076.8 11,063.5 11,062.2 Goods.................................. 3,674.5 3,694.4 3,691.7 3,684.1 3,721.8 3,765.7 3,780.2 3,769.7 3,740.6 3,724.8 Durable goods........................ 1,157.2 1,172.6 1,173.5 1,179.1 1,197.9 1,208.8 1,207.1 1,201.8 1,196.9 1,195.6 Nondurable goods..................... 2,517.3 2,521.8 2,518.1 2,505.0 2,523.9 2,556.9 2,573.1 2,567.8 2,543.7 2,529.1 Services............................... 7,161.9 7,166.8 7,182.4 7,202.2 7,220.0 7,260.1 7,273.9 7,307.1 7,322.8 7,337.4 Personal interest payments\3\............ 169.4 168.5 167.1 165.3 170.4 175.4 180.4 176.7 173.0 169.3 Personal current transfer payments....... 162.6 164.6 164.8 165.1 165.8 166.1 166.3 167.8 168.1 168.3 To government.......................... 89.3 89.5 89.8 90.0 90.3 90.5 90.8 91.1 91.3 91.6 To the rest of the world (net)......... 73.3 75.1 75.1 75.1 75.5 75.5 75.5 76.8 76.8 76.8 Equals: Personal saving.................... 406.1 413.6 372.0 392.3 425.0 406.8 426.7 423.9 472.4 529.5 Personal saving as a percentage of disposable personal income.............. 3.5 3.6 3.2 3.4 3.6 3.5 3.6 3.6 4.0 4.4 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,316.9 9,351.0 9,319.5 9,335.9 9,394.7 9,431.8 9,455.0 9,476.9 9,528.6 9,568.9 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,108.7 10,137.6 10,103.5 10,123.6 10,179.9 10,208.9 10,231.6 10,246.3 10,293.0 10,327.1 Per capita: Current dollars...................... 37,034 37,116 36,998 37,077 37,356 37,564 37,714 37,749 37,828 37,971 Chained (2005) dollars............... 32,343 32,415 32,286 32,333 32,495 32,570 32,625 32,653 32,783 32,871 Population (midperiod, thousands)\5\..... 312,542 312,747 312,932 313,109 313,278 313,440 313,610 313,788 313,972 314,168 ------------------------------------------------------------------------------------------------------------------------------------- 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] ---------------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 2011 IV 08 I 09 II 09 III 09 IV 09 ---------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,460.2 11,867.0 12,321.9 12,947.3 12,340.0 11,927.5 11,879.3 11,794.9 11,866.2 Compensation of employees, received...... 8,073.3 7,794.4 7,970.0 8,295.2 8,036.1 7,804.9 7,801.1 7,773.6 7,797.8 Wage and salary disbursements.......... 6,550.9 6,270.3 6,404.6 6,661.3 6,497.4 6,279.1 6,278.2 6,252.2 6,271.9 Private industries................... 5,406.8 5,095.1 5,213.3 5,466.0 5,337.4 5,112.1 5,102.1 5,074.4 5,091.8 Goods-producing industries......... 1,207.7 1,063.3 1,057.5 1,108.6 1,177.9 1,104.5 1,064.0 1,044.2 1,040.4 Manufacturing.................... 740.9 661.5 674.1 706.6 721.8 679.5 660.6 649.2 656.7 Services-producing industries...... 4,199.0 4,031.8 4,155.8 4,357.4 4,159.5 4,007.6 4,038.1 4,030.2 4,051.4 Trade, transportation, and utilities....................... 1,049.7 989.1 1,005.5 1,050.1 1,034.2 1,001.9 988.5 982.7 983.5 Other services-producing industries...................... 3,149.3 3,042.7 3,150.3 3,307.3 3,125.3 3,005.8 3,049.6 3,047.5 3,067.9 Government........................... 1,144.1 1,175.2 1,191.3 1,195.3 1,160.0 1,167.0 1,176.1 1,177.8 1,180.1 Supplements to wages and salaries...... 1,522.5 1,524.0 1,565.4 1,633.9 1,538.7 1,525.8 1,523.0 1,521.4 1,526.0 Employer contributions for employee pension and insurance funds......... 1,052.4 1,067.2 1,097.3 1,139.0 1,070.5 1,067.6 1,064.5 1,065.7 1,070.9 Employer contributions for government social insurance.................... 470.1 456.9 468.1 494.9 468.3 458.2 458.5 455.7 455.1 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,097.9 979.4 1,103.4 1,157.3 1,046.7 969.5 957.0 975.8 1,015.3 Farm................................... 51.8 39.9 44.3 54.6 44.6 33.7 38.5 40.6 46.7 Nonfarm................................ 1,046.1 939.5 1,059.1 1,102.8 1,002.1 935.8 918.5 935.2 968.6 Rental income of persons with capital consumption adjustment.................. 231.6 289.7 349.2 409.7 275.6 270.2 281.5 298.9 308.3 Personal income receipts on assets....... 2,165.4 1,626.5 1,598.3 1,685.1 2,056.0 1,814.8 1,634.4 1,537.8 1,519.1 Personal interest income............... 1,382.0 1,093.3 1,016.6 1,008.8 1,333.3 1,177.5 1,108.8 1,056.5 1,030.4 Personal dividend income............... 783.4 533.2 581.7 676.3 722.8 637.3 525.6 481.3 488.8 Personal current transfer receipts....... 1,879.2 2,140.1 2,284.3 2,319.2 1,909.7 2,033.6 2,171.2 2,169.6 2,186.1 Government social benefits to persons.. 1,842.4 2,100.5 2,236.9 2,274.3 1,872.7 1,996.6 2,132.7 2,129.3 2,143.4 Social security\1\................... 605.5 664.5 690.2 713.3 613.1 651.9 662.4 667.9 675.7 Medicare\2\.......................... 461.6 494.5 515.3 545.1 472.8 483.3 492.2 499.0 503.7 Medicaid............................. 338.2 369.2 396.6 403.9 342.2 357.0 368.3 381.6 369.8 Unemployment insurance............... 50.9 131.2 138.9 108.0 71.2 102.2 130.1 145.3 147.3 Veterans' benefits................... 45.0 51.5 57.9 63.3 45.8 49.9 50.3 51.8 53.8 Other................................ 341.1 389.7 438.1 440.8 327.6 352.5 429.3 383.7 393.2 Other current transfer receipts, from business (net)........................ 36.8 39.6 47.4 44.9 37.1 37.0 38.4 40.3 42.7 Less: Contributions for government social insurance, domestic..................... 987.3 963.1 983.3 919.3 984.2 965.4 965.8 960.9 960.4 Less: Personal current taxes............... 1,435.7 1,144.6 1,194.8 1,398.0 1,422.8 1,199.7 1,121.3 1,125.6 1,131.7 Equals: Disposable personal income......... 11,024.5 10,722.4 11,127.1 11,549.3 10,917.3 10,727.8 10,758.1 10,669.2 10,734.6 Less: Personal outlays..................... 10,432.2 10,214.3 10,560.4 11,059.9 10,236.3 10,138.1 10,135.4 10,259.6 10,323.9 Personal consumption expenditures........ 10,035.5 9,845.9 10,215.7 10,729.0 9,861.3 9,768.4 9,763.9 9,888.8 9,962.5 Goods.................................. 3,381.7 3,194.4 3,364.9 3,624.8 3,181.4 3,125.5 3,142.0 3,244.4 3,265.5 Durable goods........................ 1,108.9 1,029.6 1,079.4 1,146.4 1,019.3 1,016.3 1,010.4 1,052.7 1,038.9 Nondurable goods..................... 2,272.8 2,164.8 2,285.5 2,478.4 2,162.2 2,109.2 2,131.6 2,191.7 2,226.7 Services............................... 6,653.8 6,651.5 6,850.9 7,104.2 6,679.9 6,642.9 6,621.9 6,644.4 6,697.0 Personal interest payments\3\............ 245.6 217.1 183.8 168.0 226.9 221.2 221.5 219.6 206.1 Personal current transfer payments....... 151.0 151.3 160.9 162.8 148.1 148.5 150.1 151.2 155.3 To government.......................... 84.9 85.2 87.4 88.9 85.7 84.7 84.9 85.3 85.9 To the rest of the world (net)......... 66.2 66.1 73.5 73.9 62.4 63.7 65.2 65.9 69.4 Equals: Personal saving.................... 592.3 508.2 566.7 489.4 680.9 589.8 622.7 409.6 410.6 Personal saving as a percentage of disposable personal income.............. 5.4 4.7 5.1 4.2 6.2 5.5 5.8 3.8 3.8 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 9,712.3 8,923.4 9,035.8 9,340.0 9,599.7 9,155.6 8,947.9 8,805.2 8,789.0 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 10,119.5 9,836.7 10,016.5 10,149.7 10,047.9 9,927.3 9,915.6 9,760.2 9,746.4 Per capita: Current dollars...................... 36,200 34,899 35,920 37,012 35,722 35,031 35,058 34,689 34,820 Chained (2005) dollars............... 33,229 32,016 32,335 32,527 32,878 32,417 32,313 31,733 31,615 Population (midperiod, thousands)\5\..... 304,543 307,240 309,774 312,040 305,616 306,237 306,866 307,573 308,285 ---------------------------------------------------------------------------------------------------------------------------- 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 10 II 10 III 10 IV 10 I 11 II 11 III 11 IV 11 I 12 II 12 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 12,089.8 12,290.6 12,397.2 12,509.9 12,856.5 12,938.9 12,976.3 13,017.4 13,217.3 13,357.8 Compensation of employees, received...... 7,846.6 7,955.4 8,021.4 8,056.6 8,236.3 8,286.4 8,318.1 8,340.1 8,484.8 8,552.4 Wage and salary disbursements.......... 6,298.7 6,394.6 6,449.7 6,475.2 6,618.5 6,656.2 6,678.1 6,692.4 6,815.7 6,872.1 Private industries................... 5,110.7 5,198.8 5,259.6 5,284.0 5,424.7 5,458.8 5,480.4 5,499.9 5,616.6 5,672.2 Goods-producing industries......... 1,035.7 1,056.9 1,068.5 1,068.8 1,102.6 1,107.9 1,116.4 1,107.4 1,139.0 1,140.5 Manufacturing.................... 655.5 673.6 682.1 685.3 708.3 707.0 710.1 701.0 719.6 721.7 Services-producing industries...... 4,075.0 4,141.9 4,191.0 4,215.3 4,322.1 4,351.0 4,364.0 4,392.5 4,477.6 4,531.7 Trade, transportation, and utilities....................... 987.1 1,003.6 1,015.3 1,016.2 1,043.1 1,046.8 1,054.2 1,056.6 1,083.7 1,097.6 Other services-producing industries...................... 3,087.9 3,138.4 3,175.7 3,199.1 3,279.1 3,304.2 3,309.9 3,335.9 3,393.9 3,434.1 Government........................... 1,188.0 1,195.8 1,190.1 1,191.2 1,193.8 1,197.4 1,197.7 1,192.5 1,199.1 1,199.9 Supplements to wages and salaries...... 1,547.9 1,560.8 1,571.7 1,581.4 1,617.8 1,630.2 1,640.0 1,647.7 1,669.1 1,680.3 Employer contributions for employee pension and insurance funds......... 1,082.8 1,092.4 1,102.0 1,112.1 1,125.0 1,135.4 1,144.2 1,151.5 1,159.6 1,167.6 Employer contributions for government social insurance.................... 465.0 468.4 469.7 469.3 492.7 494.8 495.8 496.2 509.5 512.7 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1,052.4 1,104.8 1,117.1 1,139.2 1,148.0 1,154.7 1,161.4 1,165.3 1,184.3 1,199.2 Farm................................... 41.5 43.6 44.6 47.6 56.0 52.6 55.3 54.4 52.3 55.3 Nonfarm................................ 1,010.9 1,061.2 1,072.5 1,091.6 1,092.0 1,102.1 1,106.1 1,110.9 1,132.1 1,143.9 Rental income of persons with capital consumption adjustment.................. 340.1 352.7 350.0 354.0 390.0 404.7 413.8 430.3 445.3 455.5 Personal income receipts on assets....... 1,568.6 1,594.4 1,598.0 1,632.1 1,674.3 1,692.4 1,689.1 1,684.6 1,696.4 1,741.6 Personal interest income............... 1,030.9 1,027.1 1,000.7 1,007.7 1,017.5 1,025.3 1,004.4 988.0 991.8 1,013.5 Personal dividend income............... 537.6 567.3 597.3 624.4 656.9 667.1 684.7 696.6 704.6 728.1 Personal current transfer receipts....... 2,256.9 2,266.2 2,297.9 2,316.2 2,322.5 2,319.9 2,314.7 2,319.9 2,348.0 2,356.4 Government social benefits to persons.. 2,211.5 2,218.9 2,249.8 2,267.3 2,276.0 2,274.8 2,270.4 2,276.0 2,302.7 2,310.6 Social security\1\................... 678.7 688.3 693.9 699.8 703.1 712.0 716.0 721.9 753.2 759.4 Medicare\2\.......................... 506.8 511.2 517.5 525.6 535.1 543.1 549.1 553.1 555.9 556.9 Medicaid............................. 381.6 385.2 405.4 414.0 418.8 408.7 396.1 392.0 397.6 405.0 Unemployment insurance............... 155.7 139.6 133.2 126.9 119.1 108.8 103.0 100.9 94.2 84.0 Veterans' benefits................... 56.0 57.4 59.0 59.4 61.2 62.4 64.9 64.7 68.8 71.5 Other................................ 432.8 437.2 441.0 441.5 438.7 439.8 441.3 443.5 433.0 433.8 Other current transfer receipts, from business (net)........................ 45.4 47.3 48.0 49.0 46.5 45.1 44.3 43.9 45.3 45.8 Less: Contributions for government social insurance, domestic..................... 974.7 983.0 987.1 988.2 914.5 919.2 920.8 922.8 941.5 947.3 Less: Personal current taxes............... 1,156.9 1,173.0 1,211.8 1,237.5 1,372.5 1,396.6 1,403.8 1,419.1 1,449.1 1,474.0 Equals: Disposable personal income......... 10,932.9 11,117.5 11,185.4 11,272.4 11,484.1 11,542.3 11,572.6 11,598.3 11,768.2 11,883.8 Less: Personal outlays..................... 10,428.2 10,498.4 10,581.5 10,733.3 10,898.1 11,015.1 11,120.9 11,205.6 11,348.7 11,408.6 Personal consumption expenditures........ 10,069.1 10,148.3 10,243.6 10,401.9 10,566.3 10,684.9 10,791.2 10,873.8 11,007.2 11,067.5 Goods.................................. 3,318.2 3,321.7 3,361.0 3,458.6 3,561.4 3,604.3 3,643.6 3,690.0 3,755.9 3,745.0 Durable goods........................ 1,049.1 1,070.2 1,082.6 1,115.7 1,133.9 1,131.8 1,144.8 1,175.1 1,204.6 1,198.1 Nondurable goods..................... 2,269.1 2,251.5 2,278.4 2,342.9 2,427.5 2,472.4 2,498.7 2,515.0 2,551.3 2,546.9 Services............................... 6,750.9 6,826.6 6,882.6 6,943.3 7,004.9 7,080.6 7,147.6 7,183.8 7,251.3 7,322.5 Personal interest payments\3\............ 199.0 189.7 176.0 170.2 170.1 167.8 167.3 167.0 175.4 173.0 Personal current transfer payments....... 160.0 160.4 161.9 161.1 161.7 162.4 162.4 164.8 166.1 168.1 To government.......................... 86.6 87.2 87.7 88.0 88.3 88.6 89.1 89.8 90.5 91.3 To the rest of the world (net)......... 73.4 73.2 74.2 73.1 73.5 73.8 73.3 75.1 75.5 76.8 Equals: Personal saving.................... 504.8 619.1 603.8 539.1 585.9 527.2 451.6 392.7 419.5 475.3 Personal saving as a percentage of disposable personal income.............. 4.6 5.6 5.4 4.8 5.1 4.6 3.9 3.4 3.6 4.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 8,887.4 9,047.5 9,086.2 9,122.1 9,352.3 9,345.2 9,328.6 9,335.4 9,427.2 9,524.8 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,881.6 10,034.1 10,063.3 10,087.4 10,195.7 10,157.8 10,125.6 10,121.5 10,206.8 10,288.8 Per capita: Current dollars...................... 35,393 35,926 36,074 36,284 36,904 37,028 37,052 37,064 37,545 37,849 Chained (2005) dollars............... 31,990 32,425 32,455 32,470 32,764 32,587 32,420 32,345 32,564 32,769 Population (midperiod, thousands)\5\..... 308,899 309,457 310,070 310,670 311,184 311,717 312,330 312,929 313,443 313,976 ------------------------------------------------------------------------------------------------------------------------------------- 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 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ -160.0 -144.2 -83.5 -1.1 154.4 -138.9 -45.5 -.7 8.0 -.9 62.2 77.0 109.6 29.5 Compensation of employees, received...... -103.6 -64.2 -36.9 32.6 18.5 -8.0 -24.9 -2.4 -5.7 12.1 25.0 .1 35.9 -12.0 Wage and salary disbursements.......... -99.2 -58.3 -33.4 31.4 17.8 -7.5 -23.1 -2.7 -6.0 10.6 21.7 -1.5 18.6 -13.4 Private industries................... -105.7 -58.0 -34.5 25.4 14.9 -9.1 -22.8 -2.9 -5.6 9.1 20.8 -2.8 13.4 -14.6 Goods-producing industries......... -33.2 -16.6 -20.8 -10.3 -12.6 -7.1 -7.3 -2.4 -6.0 .1 3.4 -4.1 .3 -10.1 Manufacturing.................... -19.6 -7.0 -10.5 -1.5 -9.6 -5.0 -4.5 -.6 .0 4.5 5.8 -2.1 .2 -7.1 Services-producing industries...... -72.5 -41.3 -13.8 35.7 27.5 -1.9 -15.6 -.5 .5 9.0 17.3 1.3 13.1 -4.5 Trade, transportation, and utilities....................... -10.8 -10.6 -12.2 -.7 2.0 -6.9 -5.6 4.7 1.7 -2.5 1.0 -.2 3.4 -2.3 Other services-producing industries...................... -61.8 -30.6 -1.6 36.5 25.4 4.9 -9.9 -5.1 -1.3 11.5 16.3 1.6 9.7 -2.3 Government........................... 6.6 -.4 1.0 6.1 2.9 1.6 -.3 .2 -.4 1.5 .9 1.2 5.3 1.2 Supplements to wages and salaries...... -4.4 -5.8 -3.5 1.2 .7 -.5 -1.8 .3 .3 1.4 3.4 1.7 17.2 1.4 Employer contributions for employee pension and insurance funds......... -1.6 -2.0 -1.6 -.9 -.7 .1 .5 .8 1.2 1.7 2.2 2.8 6.1 3.2 Employer contributions for government social insurance.................... -2.8 -3.9 -1.8 2.1 1.3 -.5 -2.3 -.5 -.9 -.3 1.3 -1.2 11.1 -1.8 Proprietors' income with inventory valuation and capital consumption adjustments............................. -28.9 -19.8 -13.1 -.5 3.4 3.1 5.0 11.6 8.7 16.2 13.7 13.4 12.8 7.0 Farm................................... -7.2 -2.9 .4 3.7 2.2 .9 -.6 .9 2.4 3.7 1.3 -1.1 -3.7 -1.8 Nonfarm................................ -21.7 -16.9 -13.5 -4.2 1.2 2.2 5.5 10.7 6.4 12.4 12.4 14.7 16.5 8.7 Rental income of persons with capital consumption adjustment.................. -8.2 -3.2 .9 5.3 6.2 6.9 7.0 4.6 2.3 .1 4.5 9.6 14.3 10.7 Personal income receipts on assets....... -94.1 -86.8 -73.5 -66.8 -38.3 -30.3 -40.2 -26.6 -17.0 -12.6 7.6 27.2 20.4 13.4 Personal interest income............... -71.5 -47.0 -41.9 -12.9 -12.8 -11.1 -22.3 -19.1 -16.6 -12.4 1.3 8.4 -1.6 -3.9 Personal dividend income............... -22.4 -39.8 -31.6 -54.0 -25.5 -19.2 -17.9 -7.5 -.4 -.2 6.3 18.8 21.9 17.4 Personal current transfer receipts....... 70.2 22.4 35.3 32.4 167.1 -111.7 3.7 11.3 18.0 -16.7 13.6 24.9 42.1 7.3 Government social benefits to persons.. 71.0 21.9 34.9 31.9 166.6 -112.3 3.0 10.7 17.3 -17.5 12.8 24.0 41.0 6.4 Social security\1\................... 29.4 3.8 3.7 6.3 -4.5 10.6 -2.9 -3.1 14.7 -3.7 -1.5 11.0 -5.5 1.2 Medicare\2\.......................... 3.7 3.4 3.3 2.9 2.8 2.5 2.3 2.0 1.8 1.5 1.3 1.1 .9 1.0 Medicaid............................. 6.2 2.8 5.8 2.3 3.6 5.5 8.5 1.9 -4.2 -8.3 -2.7 1.7 8.3 4.2 Unemployment insurance............... 5.9 11.0 13.9 4.3 10.8 10.5 -1.0 8.5 -.2 -8.7 9.7 4.5 6.0 -4.2 Veterans' benefits................... 3.9 -.7 1.1 -.3 -.1 .9 .3 .6 .7 .4 1.3 .1 .4 1.8 Other................................ 21.8 1.5 7.3 16.4 153.9 -142.3 -4.2 .8 4.6 1.2 4.7 5.6 30.9 2.5 Other current transfer receipts, from business (net)........................ -.7 .3 .5 .5 .5 .6 .6 .7 .7 .8 .8 1.0 1.0 .8 Less: Contributions for government social insurance, domestic..................... -4.4 -7.5 -3.8 4.2 2.4 -1.1 -3.9 -.9 -1.5 .0 2.1 -1.7 15.8 -3.2 Less: Personal current taxes............... -166.8 -28.3 -32.2 -44.6 -3.6 -1.6 4.3 3.3 .5 .1 5.1 3.2 19.7 .0 Equals: Disposable personal income......... 6.8 -115.9 -51.3 43.5 158.1 -137.4 -49.8 -3.9 7.4 -1.1 57.2 73.9 89.8 29.5 Less: Personal outlays..................... 46.8 -8.5 -44.9 -2.6 22.1 54.0 26.6 125.6 -88.5 50.6 19.6 53.3 18.6 33.5 Personal consumption expenditures........ 45.5 -9.8 -46.0 -4.2 22.8 55.2 26.2 125.7 -88.5 53.5 26.1 59.7 13.7 33.8 Goods.................................. 53.3 13.9 -30.1 -4.8 32.0 46.2 20.7 105.7 -90.9 19.7 30.6 19.3 8.2 9.2 Durable goods........................ 29.6 -17.3 -12.2 -8.7 20.6 9.0 13.4 72.8 -97.6 9.9 24.4 2.5 -13.1 -1.3 Nondurable goods..................... 23.7 31.2 -18.0 4.0 11.4 37.1 7.5 32.8 6.7 9.8 6.3 16.7 21.3 10.4 Services............................... -7.9 -23.6 -15.8 .5 -9.3 9.1 5.4 20.1 2.4 33.8 -4.6 40.6 5.3 24.7 Personal interest payments\3\............ 1.4 1.2 1.1 .1 -.7 -1.4 -.4 -.3 -.2 -6.6 -6.7 -6.7 .8 -.7 Personal current transfer payments....... -.1 .1 .0 1.5 .0 .2 .9 .1 .2 3.7 .2 .2 4.3 .2 To government.......................... -1.4 .0 .0 .1 .1 .1 .1 .2 .1 .2 .3 .2 .2 .3 To the rest of the world (net)......... 1.3 .0 .0 1.5 .0 .0 .7 .0 .0 3.5 .0 .0 4.0 .0 Equals: Personal saving.................... -40.0 -107.4 -6.4 46.1 135.9 -191.2 -76.5 -129.5 95.9 -51.6 37.4 20.7 71.2 -4.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... -222.4 -174.9 -98.7 -41.2 -22.3 -82.4 -46.9 -38.0 -24.8 -15.8 23.2 40.0 41.5 14.8 Disposable personal income, billions of chained (2005) dollars\4\............ -3.3 -129.7 -35.3 29.1 134.3 -190.2 -47.7 -33.6 -10.5 -34.4 28.6 59.0 59.6 20.8 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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 3. Personal Income and Its Disposition, Change From Preceding Period (Months)--Continues [Billions of dollars; months seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 66.8 88.1 76.7 21.4 27.4 60.6 -3.0 47.8 29.3 81.6 243.3 50.4 16.6 43.1 Compensation of employees, received...... 37.5 52.5 54.7 -3.5 34.3 22.9 1.6 26.3 -10.3 21.2 142.6 29.5 20.1 21.5 Wage and salary disbursements.......... 32.9 47.6 48.9 -5.5 30.2 18.8 -.7 22.0 -12.1 17.4 114.2 24.8 15.0 17.2 Private industries................... 30.7 46.3 40.0 -1.5 32.4 23.0 2.2 17.5 -11.9 17.2 112.1 24.8 13.7 15.3 Goods-producing industries......... 10.1 11.9 12.5 -7.4 8.7 5.9 -.7 -1.5 -1.7 4.2 31.7 -4.1 7.9 1.5 Manufacturing.................... 8.4 9.9 10.9 -6.8 6.8 2.7 2.3 -1.0 .1 5.3 20.9 -6.2 8.0 -3.0 Services-producing industries...... 20.6 34.4 27.5 5.9 23.7 17.1 2.8 19.1 -10.2 13.0 80.5 28.8 5.8 13.8 Trade, transportation, and utilities....................... 4.4 9.1 7.6 .6 8.6 -1.4 3.5 1.5 -5.3 3.1 21.8 5.7 2.9 .7 Other services-producing industries...................... 16.2 25.3 19.9 5.3 15.1 18.5 -.7 17.7 -5.0 10.0 58.6 23.2 2.8 13.1 Government........................... 2.2 1.3 8.9 -4.0 -2.2 -4.2 -2.9 4.5 -.3 .2 2.2 -.1 1.4 1.9 Supplements to wages and salaries...... 4.6 4.8 5.9 2.1 4.0 4.1 2.3 4.2 2.0 3.7 28.4 4.7 5.2 4.2 Employer contributions for employee pension and insurance funds......... 3.2 3.1 3.4 3.2 3.2 3.1 3.3 3.5 3.3 3.4 5.8 3.8 3.6 3.5 Employer contributions for government social insurance.................... 1.4 1.7 2.5 -1.1 .9 1.0 -1.1 .8 -1.4 .3 22.6 1.0 1.5 .7 Proprietors' income with inventory valuation and capital consumption adjustments............................. 18.3 28.3 10.4 7.9 -3.4 8.1 4.9 6.2 10.1 9.4 -4.5 5.6 -.1 9.0 Farm................................... -.1 1.8 1.2 .6 .0 .1 .3 .5 1.8 3.2 4.5 2.0 -.5 -3.0 Nonfarm................................ 18.4 26.5 9.2 7.3 -3.4 8.0 4.5 5.8 8.3 6.2 -9.1 3.6 .4 12.1 Rental income of persons with capital consumption adjustment.................. 7.3 3.1 1.8 -.2 -1.9 -1.4 -1.1 -1.4 4.5 10.7 16.7 12.2 7.7 2.7 Personal income receipts on assets....... -1.6 10.6 12.5 10.5 -2.9 -4.4 -5.4 14.6 19.5 34.9 10.0 9.4 -11.5 11.2 Personal interest income............... -3.8 .0 .0 .0 -12.2 -14.0 -14.7 10.2 11.3 11.3 -1.6 .0 .3 3.4 Personal dividend income............... 2.3 10.5 12.5 10.5 9.3 9.7 9.2 4.4 8.3 23.5 11.6 9.4 -11.7 7.8 Personal current transfer receipts....... 8.2 -2.0 2.7 4.7 4.0 37.5 -4.1 4.1 3.2 7.2 2.3 -4.5 3.2 .6 Government social benefits to persons.. 7.5 -2.5 2.1 4.2 3.6 37.6 -3.8 2.0 4.3 7.8 2.8 -2.6 3.2 .8 Social security\1\................... 2.7 7.0 .9 -.7 5.0 -1.8 6.0 -.1 -.6 9.1 -2.8 -1.3 3.3 7.9 Medicare\2\.......................... 1.3 1.4 1.7 1.9 2.1 2.3 2.5 2.7 3.0 3.1 3.3 3.2 2.9 2.6 Medicaid............................. 1.1 -.7 .5 5.7 10.6 6.4 3.9 1.9 1.6 2.9 1.6 1.1 -.1 -6.4 Unemployment insurance............... -3.0 -9.1 -2.3 -6.0 -13.5 24.5 -13.8 -2.1 -2.0 -5.2 1.7 -6.1 -3.9 -4.0 Veterans' benefits................... .2 .0 1.0 .1 .6 .9 -.1 .1 -.2 .6 .9 .2 1.3 .4 Other................................ 5.1 -1.1 .3 3.2 -1.2 5.3 -2.4 -.5 2.6 -2.6 -1.9 .2 -.2 .1 Other current transfer receipts, from business (net)........................ .7 .6 .6 .6 .3 -.1 -.3 2.1 -1.0 -.8 -.4 -1.8 .0 -.3 Less: Contributions for government social insurance, domestic..................... 3.0 4.4 5.3 -1.7 2.5 2.1 -1.1 2.0 -2.1 1.5 -76.2 1.8 3.0 1.8 Less: Personal current taxes............... 5.1 3.7 10.4 6.3 18.6 14.3 9.0 10.2 3.6 7.1 120.5 7.6 10.2 10.0 Equals: Disposable personal income......... 61.7 84.4 66.3 15.1 8.8 46.3 -12.0 37.6 25.7 74.5 122.8 42.8 6.3 33.2 Less: Personal outlays..................... 63.7 3.1 20.6 -.6 25.5 67.8 17.8 66.2 54.5 44.2 46.9 65.5 80.0 39.0 Personal consumption expenditures........ 65.7 7.6 23.8 1.7 30.6 72.7 21.7 67.9 55.1 45.0 46.3 64.9 79.3 39.2 Goods.................................. 45.7 -18.2 -11.6 -12.2 14.8 47.4 14.6 48.4 22.9 25.4 40.5 38.9 35.3 26.3 Durable goods........................ 43.1 -8.8 2.9 -1.0 4.7 8.0 6.3 23.5 3.2 1.8 8.6 6.7 8.7 -.2 Nondurable goods..................... 2.8 -9.5 -14.5 -11.3 10.2 39.4 8.3 24.9 19.7 23.6 32.0 32.1 26.7 26.4 Services............................... 19.9 25.9 35.5 13.8 15.8 25.3 7.0 19.6 32.3 19.5 5.8 26.0 44.0 12.9 Personal interest payments\3\............ -2.1 -4.6 -3.4 -2.4 -6.3 -5.0 -4.0 -.7 -.7 -.9 .2 .5 .6 -.7 Personal current transfer payments....... .3 .0 .2 .1 1.2 .1 .1 -1.0 .1 .1 .4 .1 .1 .5 To government.......................... .2 .2 .2 .2 .2 .1 .1 .1 .1 .1 .1 .1 .0 .1 To the rest of the world (net)......... .0 -.2 .0 .0 1.0 .0 .0 -1.1 .0 .0 .4 .0 .0 .3 Equals: Personal saving.................... -2.0 81.3 45.7 15.7 -16.7 -21.5 -29.8 -28.6 -28.8 30.3 75.9 -22.6 -73.8 -5.8 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 37.8 80.5 67.7 13.4 7.2 5.3 -10.7 17.4 12.8 45.9 191.8 18.0 -25.4 7.6 Disposable personal income, billions of chained (2005) dollars\4\............ 38.8 75.3 60.9 11.7 -7.4 24.5 -23.7 9.5 11.5 43.6 84.2 4.5 -35.0 -3.3 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 4.2 25.8 19.4 -6.1 10.4 44.3 -31.1 37.8 109.3 82.8 61.8 25.1 39.0 61.8 Compensation of employees, received...... -3.2 22.6 21.6 -11.0 10.4 39.0 -36.9 13.0 96.8 56.8 40.8 1.1 11.9 37.3 Wage and salary disbursements.......... -6.2 18.9 17.2 -12.6 7.8 33.6 -35.9 10.8 82.2 50.9 35.9 -1.3 8.9 32.6 Private industries................... -6.2 16.7 18.8 -14.2 9.6 37.1 -34.5 11.2 76.2 49.2 35.1 -1.3 9.7 31.9 Goods-producing industries......... -1.4 2.4 8.5 -2.2 1.1 -2.9 -13.4 8.6 21.5 10.0 6.3 -4.2 -6.5 7.7 Manufacturing.................... -1.9 -1.1 7.1 -3.7 -.4 -3.9 -9.1 6.9 11.7 5.6 5.0 -2.4 -3.8 5.7 Services-producing industries...... -4.9 14.4 10.3 -12.1 8.6 40.0 -21.0 2.4 54.8 39.2 28.8 3.0 16.1 24.2 Trade, transportation, and utilities....................... -3.3 4.1 8.2 -4.4 1.5 4.7 -2.8 .1 19.3 11.9 2.3 3.1 4.5 6.9 Other services-producing industries...................... -1.6 10.3 2.1 -7.7 7.1 35.3 -18.2 2.3 35.5 27.3 26.5 -.1 11.5 17.5 Government........................... .1 2.1 -1.6 1.7 -1.9 -3.4 -1.5 -.3 5.8 1.8 .8 -.1 -.6 .6 Supplements to wages and salaries...... 3.0 3.8 4.3 1.6 2.6 5.3 -.8 2.0 14.7 5.9 4.9 2.5 2.9 4.7 Employer contributions for employee pension and insurance funds......... 3.3 3.1 3.0 2.6 2.7 2.4 2.3 2.0 3.3 2.6 2.8 2.6 2.7 2.7 Employer contributions for government social insurance.................... -.3 .6 1.4 -1.0 -.1 2.9 -3.1 .0 11.4 3.3 2.1 -.1 .2 2.0 Proprietors' income with inventory valuation and capital consumption adjustments............................. -6.6 .7 .1 9.4 6.5 -5.7 -.5 7.1 4.3 14.5 1.8 3.9 5.8 3.1 Farm................................... -1.3 .4 2.1 1.1 .1 -.8 -.6 -.3 -.9 -.8 -.9 1.9 2.0 2.0 Nonfarm................................ -5.3 .3 -2.0 8.2 6.4 -4.7 .0 7.4 5.2 15.3 2.7 1.9 3.9 1.1 Rental income of persons with capital consumption adjustment.................. 2.9 2.5 1.9 3.9 6.1 7.0 5.1 2.0 5.9 6.1 6.0 1.8 2.3 2.5 Personal income receipts on assets....... 11.4 11.4 -5.2 -9.1 -10.4 4.0 .0 4.7 2.3 5.7 7.4 18.8 19.8 19.3 Personal interest income............... 4.0 4.6 -12.6 -12.7 -12.7 -1.5 -2.1 -2.3 3.0 3.0 3.1 9.3 9.3 9.3 Personal dividend income............... 7.3 6.9 7.3 3.7 2.2 5.4 2.2 7.0 -.7 2.7 4.3 9.5 10.5 9.9 Personal current transfer receipts....... -.7 -10.0 2.8 -.8 -1.7 5.1 -3.6 11.6 14.9 5.2 9.7 -.8 -.1 3.2 Government social benefits to persons.. -.2 -9.6 2.8 -.3 -1.4 4.9 -3.4 11.9 13.2 5.2 9.7 -1.2 -.1 3.0 Social security\1\................... -1.2 .1 3.1 .9 1.8 .6 .8 9.8 20.5 2.9 6.1 -1.4 .0 7.8 Medicare\2\.......................... 2.5 2.2 2.0 1.8 1.5 1.3 1.2 .8 .1 1.6 2.2 -1.7 1.2 -.2 Medicaid............................. -3.6 -4.9 -4.5 -4.8 -1.0 -2.0 .0 .2 2.7 2.9 2.6 2.1 3.8 .2 Unemployment insurance............... 1.0 -7.1 .6 -.6 -4.7 5.0 -5.2 -1.0 -1.0 -3.4 -3.1 -1.5 -5.9 -4.7 Veterans' benefits................... -1.1 1.8 .6 1.3 .6 -.5 -1.5 1.4 2.2 1.2 2.2 .4 .8 -.3 Other................................ 2.2 -1.6 1.0 1.0 .6 .3 1.4 .7 -11.4 .1 -.3 .9 .1 .1 Other current transfer receipts, from business (net)........................ -.5 -.4 .0 -.5 -.3 .2 -.2 -.3 1.6 .1 .1 .4 -.1 .1 Less: Contributions for government social insurance, domestic..................... -.5 1.7 1.6 -1.5 .4 5.3 -4.8 .5 14.9 5.5 3.9 -.3 .8 3.5 Less: Personal current taxes............... 4.3 5.8 .8 -.8 4.8 11.0 -1.3 6.7 15.4 11.8 8.2 7.5 7.3 9.3 Equals: Disposable personal income......... .0 19.8 18.7 -5.3 5.7 33.2 -29.9 31.2 93.8 71.1 53.6 17.6 31.7 52.4 Less: Personal outlays..................... 10.4 -12.5 76.2 21.5 60.5 25.8 11.7 10.8 61.3 89.2 33.6 20.5 -16.7 -4.8 Personal consumption expenditures........ 12.1 -9.6 76.1 19.9 57.9 24.7 12.9 12.3 55.5 84.0 28.3 22.7 -13.3 -1.3 Goods.................................. -18.7 -22.4 44.0 1.9 45.5 19.9 -2.7 -7.6 37.7 43.9 14.5 -10.5 -29.1 -15.8 Durable goods........................ -10.6 -8.7 19.5 -6.7 21.9 15.4 .9 5.6 18.8 10.9 -1.7 -5.3 -4.9 -1.3 Nondurable goods..................... -8.1 -13.7 24.5 8.6 23.6 4.5 -3.7 -13.1 18.9 33.0 16.2 -5.3 -24.1 -14.6 Services............................... 30.8 12.8 32.1 18.0 12.4 4.9 15.6 19.8 17.8 40.1 13.8 33.2 15.7 14.6 Personal interest payments\3\............ -1.9 -2.9 .4 1.4 2.4 -.9 -1.4 -1.8 5.1 5.0 5.0 -3.7 -3.7 -3.7 Personal current transfer payments....... .1 .2 -.4 .2 .2 2.0 .2 .3 .7 .3 .2 1.5 .3 .2 To government.......................... .2 .1 .2 .2 .2 .2 .3 .2 .3 .2 .3 .3 .2 .3 To the rest of the world (net)......... .0 .0 -.5 .0 .0 1.8 .0 .0 .4 .0 .0 1.3 .0 .0 Equals: Personal saving.................... -10.4 32.3 -57.5 -26.8 -54.9 7.5 -41.6 20.3 32.7 -18.2 19.9 -2.8 48.5 57.1 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... -17.1 23.0 -7.1 -26.7 -4.2 34.1 -31.5 16.4 58.8 37.1 23.2 21.9 51.7 40.3 Disposable personal income, billions of chained (2005) dollars\4\............ -23.5 8.4 -7.1 -28.8 -11.0 28.9 -34.1 20.1 56.3 29.0 22.7 14.7 46.7 34.1 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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] ------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 2011 I 09 II 09 III 09 IV 09 ------------------------------------------------------------------------------------------------------------------- Personal income............................ 547.9 -593.2 454.9 625.4 -412.5 -48.2 -84.4 71.3 Compensation of employees, received...... 211.1 -278.9 175.6 325.2 -231.2 -3.8 -27.5 24.2 Wage and salary disbursements.......... 129.2 -280.6 134.3 256.7 -218.3 -.9 -26.0 19.7 Private industries................... 74.1 -311.7 118.2 252.7 -225.3 -10.0 -27.7 17.4 Goods-producing industries......... -5.7 -144.4 -5.8 51.1 -73.4 -40.5 -19.8 -3.8 Manufacturing.................... -11.3 -79.4 12.6 32.5 -42.3 -18.9 -11.4 7.5 Services-producing industries...... 79.7 -167.2 124.0 201.6 -151.9 30.5 -7.9 21.2 Trade, transportation, and utilities....................... 4.5 -60.6 16.4 44.6 -32.3 -13.4 -5.8 .8 Other services-producing industries...................... 75.2 -106.6 107.6 157.0 -119.5 43.8 -2.1 20.4 Government........................... 55.1 31.1 16.1 4.0 7.0 9.1 1.7 2.3 Supplements to wages and salaries...... 82.1 1.5 41.4 68.5 -12.9 -2.8 -1.6 4.6 Employer contributions for employee pension and insurance funds......... 71.9 14.8 30.1 41.7 -2.9 -3.1 1.2 5.2 Employer contributions for government social insurance.................... 10.2 -13.2 11.2 26.8 -10.1 .3 -2.8 -.6 Proprietors' income with inventory valuation and capital consumption adjustments............................. 7.5 -118.5 124.0 53.9 -77.2 -12.5 18.8 39.5 Farm................................... 14.0 -11.9 4.4 10.3 -10.9 4.8 2.1 6.1 Nonfarm................................ -6.5 -106.6 119.6 43.7 -66.3 -17.3 16.7 33.4 Rental income of persons with capital consumption adjustment.................. 87.9 58.1 59.5 60.5 -5.4 11.3 17.4 9.4 Personal income receipts on assets....... 108.4 -538.9 -28.2 86.8 -241.2 -180.4 -96.6 -18.7 Personal interest income............... 116.9 -288.7 -76.7 -7.8 -155.8 -68.7 -52.3 -26.1 Personal dividend income............... -8.5 -250.2 48.5 94.6 -85.5 -111.7 -44.3 7.5 Personal current transfer receipts....... 160.7 260.9 144.2 34.9 123.9 137.6 -1.6 16.5 Government social benefits to persons.. 154.5 258.1 136.4 37.4 123.9 136.1 -3.4 14.1 Social security\1\................... 29.9 59.0 25.7 23.1 38.8 10.5 5.5 7.8 Medicare\2\.......................... 34.0 32.9 20.8 29.8 10.5 8.9 6.8 4.7 Medicaid............................. 14.1 31.0 27.4 7.3 14.8 11.3 13.3 -11.8 Unemployment insurance............... 18.2 80.3 7.7 -30.9 31.0 27.9 15.2 2.0 Veterans' benefits................... 3.3 6.5 6.4 5.4 4.1 .4 1.5 2.0 Other................................ 54.9 48.6 48.4 2.7 24.9 76.8 -45.6 9.5 Other current transfer receipts, from business (net)........................ 6.3 2.8 7.8 -2.5 -.1 1.4 1.9 2.4 Less: Contributions for government social insurance, domestic..................... 27.8 -24.2 20.2 -64.0 -18.8 .4 -4.9 -.5 Less: Personal current taxes............... -53.0 -291.1 50.2 203.2 -223.1 -78.4 4.3 6.1 Equals: Disposable personal income......... 600.9 -302.1 404.7 422.2 -189.5 30.3 -88.9 65.4 Less: Personal outlays..................... 257.3 -217.9 346.1 499.5 -98.2 -2.7 124.2 64.3 Personal consumption expenditures........ 263.2 -189.6 369.8 513.3 -92.9 -4.5 124.9 73.7 Goods.................................. 17.8 -187.3 170.5 259.9 -55.9 16.5 102.4 21.1 Durable goods........................ -79.5 -79.3 49.8 67.0 -3.0 -5.9 42.3 -13.8 Nondurable goods..................... 97.3 -108.0 120.7 192.9 -53.0 22.4 60.1 35.0 Services............................... 245.5 -2.3 199.4 253.3 -37.0 -21.0 22.5 52.6 Personal interest payments\3\............ -15.3 -28.5 -33.3 -15.8 -5.7 .3 -1.9 -13.5 Personal current transfer payments....... 9.3 .3 9.6 1.9 .4 1.6 1.1 4.1 To government.......................... 2.5 .3 2.2 1.5 -1.0 .2 .4 .6 To the rest of the world (net)......... 6.9 -.1 7.4 .4 1.3 1.5 .7 3.5 Equals: Personal saving.................... 343.6 -84.1 58.5 -77.3 -91.1 32.9 -213.1 1.0 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 49.8 -788.9 112.4 304.2 -444.1 -207.7 -142.7 -16.2 Disposable personal income, billions of chained (2005) dollars\4\............ 239.2 -282.8 179.8 133.2 -120.6 -11.7 -155.4 -13.8 ------------------------------------------------------------------------------------------------------------------- 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 10 II 10 III 10 IV 10 I 11 II 11 III 11 IV 11 I 12 II 12 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 223.6 200.8 106.6 112.7 346.6 82.4 37.4 41.1 199.9 140.5 Compensation of employees, received...... 48.8 108.8 66.0 35.2 179.7 50.1 31.7 22.0 144.7 67.6 Wage and salary disbursements.......... 26.8 95.9 55.1 25.5 143.3 37.7 21.9 14.3 123.3 56.4 Private industries................... 18.9 88.1 60.8 24.4 140.7 34.1 21.6 19.5 116.7 55.6 Goods-producing industries......... -4.7 21.2 11.6 .3 33.8 5.3 8.5 -9.0 31.6 1.5 Manufacturing.................... -1.2 18.1 8.5 3.2 23.0 -1.3 3.1 -9.1 18.6 2.1 Services-producing industries...... 23.6 66.9 49.1 24.3 106.8 28.9 13.0 28.5 85.1 54.1 Trade, transportation, and utilities....................... 3.6 16.5 11.7 .9 26.9 3.7 7.4 2.4 27.1 13.9 Other services-producing industries...................... 20.0 50.5 37.3 23.4 80.0 25.1 5.7 26.0 58.0 40.2 Government........................... 7.9 7.8 -5.7 1.1 2.6 3.6 .3 -5.2 6.6 .8 Supplements to wages and salaries...... 21.9 12.9 10.9 9.7 36.4 12.4 9.8 7.7 21.4 11.2 Employer contributions for employee pension and insurance funds......... 11.9 9.6 9.6 10.1 12.9 10.4 8.8 7.3 8.1 8.0 Employer contributions for government social insurance.................... 9.9 3.4 1.3 -.4 23.4 2.1 1.0 .4 13.3 3.2 Proprietors' income with inventory valuation and capital consumption adjustments............................. 37.1 52.4 12.3 22.1 8.8 6.7 6.7 3.9 19.0 14.9 Farm................................... -5.2 2.1 1.0 3.0 8.4 -3.4 2.7 -.9 -2.1 3.0 Nonfarm................................ 42.3 50.3 11.3 19.1 .4 10.1 4.0 4.8 21.2 11.8 Rental income of persons with capital consumption adjustment.................. 31.8 12.6 -2.7 4.0 36.0 14.7 9.1 16.5 15.0 10.2 Personal income receipts on assets....... 49.5 25.8 3.6 34.1 42.2 18.1 -3.3 -4.5 11.8 45.2 Personal interest income............... .5 -3.8 -26.4 7.0 9.8 7.8 -20.9 -16.4 3.8 21.7 Personal dividend income............... 48.8 29.7 30.0 27.1 32.5 10.2 17.6 11.9 8.0 23.5 Personal current transfer receipts....... 70.8 9.3 31.7 18.3 6.3 -2.6 -5.2 5.2 28.1 8.4 Government social benefits to persons.. 68.1 7.4 30.9 17.5 8.7 -1.2 -4.4 5.6 26.7 7.9 Social security\1\................... 3.0 9.6 5.6 5.9 3.3 8.9 4.0 5.9 31.3 6.2 Medicare\2\.......................... 3.1 4.4 6.3 8.1 9.5 8.0 6.0 4.0 2.8 1.0 Medicaid............................. 11.8 3.6 20.2 8.6 4.8 -10.1 -12.6 -4.1 5.6 7.4 Unemployment insurance............... 8.4 -16.1 -6.4 -6.3 -7.8 -10.3 -5.8 -2.1 -6.7 -10.2 Veterans' benefits................... 2.2 1.4 1.6 .4 1.8 1.2 2.5 -.2 4.1 2.7 Other................................ 39.6 4.4 3.8 .5 -2.8 1.1 1.5 2.2 -10.5 .8 Other current transfer receipts, from business (net)........................ 2.7 1.9 .7 1.0 -2.5 -1.4 -.8 -.4 1.4 .5 Less: Contributions for government social insurance, domestic..................... 14.3 8.3 4.1 1.1 -73.7 4.7 1.6 2.0 18.7 5.8 Less: Personal current taxes............... 25.2 16.1 38.8 25.7 135.0 24.1 7.2 15.3 30.0 24.9 Equals: Disposable personal income......... 198.3 184.6 67.9 87.0 211.7 58.2 30.3 25.7 169.9 115.6 Less: Personal outlays..................... 104.3 70.2 83.1 151.8 164.8 117.0 105.8 84.7 143.1 59.9 Personal consumption expenditures........ 106.6 79.2 95.3 158.3 164.4 118.6 106.3 82.6 133.4 60.3 Goods.................................. 52.7 3.5 39.3 97.6 102.8 42.9 39.3 46.4 65.9 -10.9 Durable goods........................ 10.2 21.1 12.4 33.1 18.2 -2.1 13.0 30.3 29.5 -6.5 Nondurable goods..................... 42.4 -17.6 26.9 64.5 84.6 44.9 26.3 16.3 36.3 -4.4 Services............................... 53.9 75.7 56.0 60.7 61.6 75.7 67.0 36.2 67.5 71.2 Personal interest payments\3\............ -7.1 -9.3 -13.7 -5.8 -.1 -2.3 -.5 -.3 8.4 -2.4 Personal current transfer payments....... 4.7 .4 1.5 -.8 .6 .7 .0 2.4 1.3 2.0 To government.......................... .7 .6 .5 .3 .3 .3 .5 .7 .7 .8 To the rest of the world (net)......... 4.0 -.2 1.0 -1.1 .4 .3 -.5 1.8 .4 1.3 Equals: Personal saving.................... 94.2 114.3 -15.3 -64.7 46.8 -58.7 -75.6 -58.9 26.8 55.8 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\....................... 98.4 160.1 38.7 35.9 230.2 -7.1 -16.6 6.8 91.8 97.6 Disposable personal income, billions of chained (2005) dollars\4\............ 135.2 152.5 29.2 24.1 108.3 -37.9 -32.2 -4.1 85.3 82.0 ------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Continues [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ -1.3 -1.2 -.7 .0 1.3 -1.2 -.4 .0 .1 .0 .5 .6 .9 .2 Compensation of employees, received...... -1.3 -.8 -.5 .4 .2 -.1 -.3 .0 -.1 .2 .3 .0 .5 -.2 Wage and salary disbursements.......... -1.5 -.9 -.5 .5 .3 -.1 -.4 .0 -.1 .2 .3 .0 .3 -.2 Supplements to wages and salaries...... -.3 -.4 -.2 .1 .0 .0 -.1 .0 .0 .1 .2 .1 1.1 .1 Proprietors' income with inventory valuation and capital consumption adjustments............................. -2.8 -2.0 -1.4 -.1 .4 .3 .5 1.2 .9 1.6 1.4 1.3 1.2 .7 Rental income of persons with capital consumption adjustment.................. -2.9 -1.2 .4 2.0 2.3 2.4 2.4 1.6 .8 .0 1.5 3.1 4.5 3.3 Personal income receipts on assets....... -4.7 -4.6 -4.1 -3.8 -2.3 -1.9 -2.5 -1.7 -1.1 -.8 .5 1.8 1.3 .9 Personal interest income............... -5.5 -3.8 -3.6 -1.1 -1.1 -1.0 -2.0 -1.8 -1.6 -1.2 .1 .8 -.1 -.4 Personal dividend income............... -3.2 -5.9 -5.0 -8.9 -4.6 -3.7 -3.5 -1.5 -.1 -.1 1.3 3.9 4.3 3.3 Personal current transfer receipts....... 3.6 1.1 1.7 1.6 8.0 -4.9 .2 .5 .8 -.8 .6 1.1 1.9 .3 Less: Contributions for government social insurance, domestic..................... -.5 -.8 -.4 .4 .2 -.1 -.4 -.1 -.2 .0 .2 -.2 1.6 -.3 Less: Personal current taxes............... -11.9 -2.3 -2.7 -3.8 -.3 -.1 .4 .3 .0 .0 .5 .3 1.7 .0 Equals: Disposable personal income......... .1 -1.1 -.5 .4 1.5 -1.3 -.5 .0 .1 .0 .5 .7 .8 .3 Addenda: Personal consumption expenditures........ .5 -.1 -.5 .0 .2 .6 .3 1.3 -.9 .5 .3 .6 .1 .3 Goods.................................. 1.7 .4 -1.0 -.2 1.0 1.5 .7 3.3 -2.7 .6 .9 .6 .3 .3 Durable goods........................ 3.0 -1.7 -1.2 -.9 2.1 .9 1.3 7.0 -8.8 1.0 2.4 .2 -1.2 -.1 Nondurable goods..................... 1.1 1.5 -.8 .2 .5 1.7 .3 1.5 .3 .4 .3 .8 1.0 .5 Services............................... -.1 -.4 -.2 .0 -.1 .1 .1 .3 .0 .5 -.1 .6 .1 .4 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... -2.3 -1.9 -1.1 -.5 -.2 -.9 -.5 -.4 -.3 -.2 .3 .5 .5 .2 Real disposable personal income.......... .0 -1.3 -.4 .3 1.4 -1.9 -.5 -.3 -.1 -.4 .3 .6 .6 .2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Continues [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ .6 .7 .6 .2 .2 .5 .0 .4 .2 .7 1.9 .4 .1 .3 Compensation of employees, received...... .5 .7 .7 .0 .4 .3 .0 .3 -.1 .3 1.8 .4 .2 .3 Wage and salary disbursements.......... .5 .8 .8 -.1 .5 .3 .0 .3 -.2 .3 1.8 .4 .2 .3 Supplements to wages and salaries...... .3 .3 .4 .1 .3 .3 .1 .3 .1 .2 1.8 .3 .3 .3 Proprietors' income with inventory valuation and capital consumption adjustments............................. 1.8 2.7 .9 .7 -.3 .7 .4 .6 .9 .8 -.4 .5 .0 .8 Rental income of persons with capital consumption adjustment.................. 2.1 .9 .5 .0 -.5 -.4 -.3 -.4 1.3 3.0 4.6 3.2 2.0 .7 Personal income receipts on assets....... -.1 .7 .8 .7 -.2 -.3 -.3 .9 1.2 2.1 .6 .6 -.7 .7 Personal interest income............... -.4 .0 .0 .0 -1.2 -1.4 -1.5 1.0 1.1 1.1 -.2 .0 .0 .3 Personal dividend income............... .4 1.9 2.2 1.8 1.6 1.6 1.5 .7 1.4 3.8 1.8 1.4 -1.8 1.2 Personal current transfer receipts....... .4 -.1 .1 .2 .2 1.6 -.2 .2 .1 .3 .1 -.2 .1 .0 Less: Contributions for government social insurance, domestic..................... .3 .5 .5 -.2 .3 .2 -.1 .2 -.2 .2 -7.7 .2 .3 .2 Less: Personal current taxes............... .4 .3 .9 .5 1.6 1.2 .7 .8 .3 .6 9.7 .6 .7 .7 Equals: Disposable personal income......... .6 .8 .6 .1 .1 .4 -.1 .3 .2 .7 1.1 .4 .1 .3 Addenda: Personal consumption expenditures........ .7 .1 .2 .0 .3 .7 .2 .7 .5 .4 .4 .6 .8 .4 Goods.................................. 1.4 -.5 -.3 -.4 .4 1.4 .4 1.4 .7 .7 1.2 1.1 1.0 .7 Durable goods........................ 4.2 -.8 .3 -.1 .4 .7 .6 2.2 .3 .2 .8 .6 .8 .0 Nondurable goods..................... .1 -.4 -.6 -.5 .5 1.8 .4 1.1 .8 1.0 1.4 1.3 1.1 1.1 Services............................... .3 .4 .5 .2 .2 .4 .1 .3 .5 .3 .1 .4 .6 .2 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... .4 .9 .8 .1 .1 .1 -.1 .2 .1 .5 2.1 .2 -.3 .1 Real disposable personal income.......... .4 .8 .6 .1 -.1 .2 -.2 .1 .1 .4 .8 .0 -.3 .0 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)--Table Ends [Months seasonally adjusted at monthly rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Based on current-dollar measures ---------------------------------------------------------------------------------------------------------------- Personal income............................ .0 .2 .1 .0 .1 .3 -.2 .3 .8 .6 .5 .2 .3 .5 Compensation of employees, received...... .0 .3 .3 -.1 .1 .5 -.4 .2 1.2 .7 .5 .0 .1 .4 Wage and salary disbursements.......... -.1 .3 .3 -.2 .1 .5 -.5 .2 1.2 .8 .5 .0 .1 .5 Supplements to wages and salaries...... .2 .2 .3 .1 .2 .3 -.1 .1 .9 .4 .3 .1 .2 .3 Proprietors' income with inventory valuation and capital consumption adjustments............................. -.6 .1 .0 .8 .6 -.5 .0 .6 .4 1.2 .2 .3 .5 .3 Rental income of persons with capital consumption adjustment.................. .7 .6 .5 1.0 1.5 1.7 1.2 .5 1.4 1.4 1.3 .4 .5 .5 Personal income receipts on assets....... .7 .7 -.3 -.5 -.6 .2 .0 .3 .1 .3 .4 1.1 1.1 1.1 Personal interest income............... .4 .4 -1.2 -1.3 -1.3 -.1 -.2 -.2 .3 .3 .3 .9 .9 .9 Personal dividend income............... 1.1 1.0 1.1 .5 .3 .8 .3 1.0 -.1 .4 .6 1.3 1.5 1.4 Personal current transfer receipts....... .0 -.4 .1 .0 -.1 .2 -.2 .5 .6 .2 .4 .0 .0 .1 Less: Contributions for government social insurance, domestic..................... -.1 .2 .2 -.2 .0 .6 -.5 .1 1.6 .6 .4 .0 .1 .4 Less: Personal current taxes............... .3 .4 .1 -.1 .3 .8 -.1 .5 1.1 .8 .6 .5 .5 .6 Equals: Disposable personal income......... .0 .2 .2 .0 .0 .3 -.3 .3 .8 .6 .5 .1 .3 .4 Addenda: Personal consumption expenditures........ .1 -.1 .7 .2 .5 .2 .1 .1 .5 .8 .3 .2 -.1 .0 Goods.................................. -.5 -.6 1.2 .1 1.3 .5 -.1 -.2 1.0 1.2 .4 -.3 -.8 -.4 Durable goods........................ -.9 -.8 1.7 -.6 1.9 1.3 .1 .5 1.6 .9 -.1 -.4 -.4 -.1 Nondurable goods..................... -.3 -.6 1.0 .3 .9 .2 -.1 -.5 .8 1.3 .6 -.2 -.9 -.6 Services............................... .4 .2 .5 .3 .2 .1 .2 .3 .2 .6 .2 .5 .2 .2 ---------------------------------------------------------------------------------------------------------------- Based on chained (2005) dollar measures ---------------------------------------------------------------------------------------------------------------- Real personal income excluding current transfer receipts....................... -.2 .2 -.1 -.3 .0 .4 -.3 .2 .6 .4 .2 .2 .5 .4 Real disposable personal income.......... -.2 .1 -.1 -.3 -.1 .3 -.3 .2 .6 .3 .2 .1 .5 .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] ------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 2011 I 09 II 09 III 09 IV 09 ------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------ Based on current-dollar measures ------------------------------------------------------------------------ Personal income............................ 4.6 -4.8 3.8 5.1 -12.7 -1.6 -2.8 2.4 Compensation of employees, received...... 2.7 -3.5 2.3 4.1 -11.0 -.2 -1.4 1.3 Wage and salary disbursements.......... 2.0 -4.3 2.1 4.0 -12.8 -.1 -1.6 1.3 Supplements to wages and salaries...... 5.7 .1 2.7 4.4 -3.3 -.7 -.4 1.2 Proprietors' income with inventory valuation and capital consumption adjustments............................. .7 -10.8 12.7 4.9 -26.4 -5.1 8.1 17.2 Rental income of persons with capital consumption adjustment.................. 61.1 25.1 20.5 17.3 -7.6 17.8 27.3 13.2 Personal income receipts on assets....... 5.3 -24.9 -1.7 5.4 -39.3 -34.2 -21.6 -4.8 Personal interest income............... 9.2 -20.9 -7.0 -.8 -39.2 -21.4 -17.6 -9.5 Personal dividend income............... -1.1 -31.9 9.1 16.3 -39.5 -53.7 -29.7 6.3 Personal current transfer receipts....... 9.4 13.9 6.7 1.5 28.6 29.9 -.3 3.1 Less: Contributions for government social insurance, domestic..................... 2.9 -2.4 2.1 -6.5 -7.4 .2 -2.0 -.2 Less: Personal current taxes............... -3.6 -20.3 4.4 17.0 -49.4 -23.7 1.6 2.2 Equals: Disposable personal income......... 5.8 -2.7 3.8 3.8 -6.8 1.1 -3.3 2.5 Addenda: Personal consumption expenditures........ 2.7 -1.9 3.8 5.0 -3.7 -.2 5.2 3.0 Goods.................................. .5 -5.5 5.3 7.7 -6.8 2.1 13.7 2.6 Durable goods........................ -6.7 -7.1 4.8 6.2 -1.2 -2.3 17.8 -5.1 Nondurable goods..................... 4.5 -4.8 5.6 8.4 -9.4 4.3 11.8 6.5 Services............................... 3.8 .0 3.0 3.7 -2.2 -1.3 1.4 3.2 ------------------------------------------------------------------------ Based on chained (2005) dollar measures ------------------------------------------------------------------------ Real personal income excluding current transfer receipts....................... .5 -8.1 1.3 3.4 -17.3 -8.8 -6.2 -.7 Real disposable personal income.......... 2.4 -2.8 1.8 1.3 -4.7 -.5 -6.1 -.6 ------------------------------------------------------------------------------------------------------------------- Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters)--Table Ends [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------- I 10 II 10 III 10 IV 10 I 11 II 11 III 11 IV 11 I 12 II 12 ------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ Based on current-dollar measures ------------------------------------------------------------------------------------------ Personal income............................ 7.8 6.8 3.5 3.7 11.6 2.6 1.2 1.3 6.3 4.3 Compensation of employees, received...... 2.5 5.7 3.4 1.8 9.2 2.5 1.5 1.1 7.1 3.2 Wage and salary disbursements.......... 1.7 6.2 3.5 1.6 9.1 2.3 1.3 .9 7.6 3.4 Supplements to wages and salaries...... 5.9 3.4 2.8 2.5 9.5 3.1 2.4 1.9 5.3 2.7 Proprietors' income with inventory valuation and capital consumption adjustments............................. 15.4 21.5 4.5 8.1 3.1 2.3 2.4 1.3 6.7 5.1 Rental income of persons with capital consumption adjustment.................. 48.0 15.7 -3.1 4.7 47.3 15.9 9.4 16.9 14.7 9.5 Personal income receipts on assets....... 13.7 6.8 .9 8.8 10.8 4.4 -.8 -1.0 2.8 11.1 Personal interest income............... .2 -1.5 -9.9 2.8 3.9 3.1 -7.9 -6.4 1.5 9.0 Personal dividend income............... 46.4 24.0 22.9 19.4 22.4 6.4 10.9 7.2 4.6 14.1 Personal current transfer receipts....... 13.6 1.7 5.7 3.2 1.1 -.4 -.9 .9 4.9 1.4 Less: Contributions for government social insurance, domestic..................... 6.1 3.4 1.7 .4 -26.7 2.1 .7 .9 8.3 2.5 Less: Personal current taxes............... 9.2 5.7 13.9 8.8 51.3 7.2 2.1 4.4 8.7 7.0 Equals: Disposable personal income......... 7.6 6.9 2.5 3.1 7.7 2.0 1.1 .9 6.0 4.0 Addenda: Personal consumption expenditures........ 4.3 3.2 3.8 6.3 6.5 4.6 4.0 3.1 5.0 2.2 Goods.................................. 6.6 .4 4.8 12.1 12.4 4.9 4.4 5.2 7.3 -1.2 Durable goods........................ 4.0 8.3 4.7 12.8 6.7 -.7 4.7 11.0 10.4 -2.1 Nondurable goods..................... 7.8 -3.1 4.9 11.8 15.2 7.6 4.3 2.6 5.9 -.7 Services............................... 3.3 4.6 3.3 3.6 3.6 4.4 3.8 2.0 3.8 4.0 ------------------------------------------------------------------------------------------ Based on chained (2005) dollar measures ------------------------------------------------------------------------------------------ Real personal income excluding current transfer receipts....................... 4.6 7.4 1.7 1.6 10.5 -.3 -.7 .3 4.0 4.2 Real disposable personal income.......... 5.7 6.3 1.2 1.0 4.4 -1.5 -1.3 -.2 3.4 3.2 ------------------------------------------------------------------------------------------------------------------------------------- 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 9,069.6 9,040.2 9,008.8 8,994.7 9,005.1 8,998.1 9,020.3 9,107.6 9,010.7 9,028.4 Goods.................................... 3,052.6 3,097.7 3,087.4 3,064.6 3,052.9 3,076.9 3,071.2 3,097.4 3,183.5 3,088.3 3,101.2 Durable goods.......................... 1,075.2 1,108.0 1,089.0 1,077.1 1,067.3 1,090.2 1,099.8 1,119.8 1,201.9 1,094.0 1,102.1 Nondurable goods....................... 1,968.7 1,982.8 1,989.8 1,978.5 1,975.9 1,978.7 1,965.2 1,973.1 1,985.2 1,985.9 1,991.3 Services................................. 5,976.6 5,967.8 5,948.4 5,938.4 5,935.4 5,923.5 5,921.8 5,919.2 5,924.6 5,918.2 5,923.5 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -48.4 33.5 -29.4 -31.4 -14.1 10.4 -7.0 22.2 87.3 -96.9 17.7 Goods.................................... -37.5 45.1 -10.3 -22.8 -11.7 24.0 -5.7 26.2 86.1 -95.2 12.9 Durable goods.......................... -16.0 32.8 -19.0 -11.9 -9.8 22.9 9.6 20.0 82.1 -107.9 8.1 Nondurable goods....................... -21.6 14.1 7.0 -11.3 -2.6 2.8 -13.5 7.9 12.1 .7 5.4 Services................................. -13.1 -8.8 -19.4 -10.0 -3.0 -11.9 -1.7 -2.6 5.4 -6.4 5.3 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... -.5 .4 -.3 -.3 -.2 .1 -.1 .2 1.0 -1.1 .2 Goods.................................... -1.2 1.5 -.3 -.7 -.4 .8 -.2 .9 2.8 -3.0 .4 Durable goods.......................... -1.5 3.1 -1.7 -1.1 -.9 2.2 .9 1.8 7.3 -9.0 .7 Nondurable goods....................... -1.1 .7 .4 -.6 -.1 .1 -.7 .4 .6 .0 .3 Services................................. -.2 -.1 -.3 -.2 -.1 -.2 .0 .0 .1 -.1 .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.......... 9,030.4 9,077.3 9,069.5 9,094.7 9,138.4 9,144.5 9,166.9 9,166.7 9,180.3 9,230.1 9,237.7 Goods.................................... 3,120.3 3,136.8 3,134.5 3,148.6 3,195.5 3,186.7 3,188.0 3,181.4 3,188.4 3,224.1 3,233.0 Durable goods.......................... 1,127.6 1,132.5 1,119.6 1,121.1 1,167.0 1,159.9 1,165.4 1,168.3 1,176.9 1,184.6 1,193.2 Nondurable goods....................... 1,988.0 1,999.3 2,007.7 2,019.7 2,025.7 2,023.4 2,020.0 2,011.4 2,010.9 2,037.9 2,039.2 Services................................. 5,907.8 5,938.2 5,932.9 5,944.4 5,943.8 5,957.9 5,978.5 5,984.4 5,991.2 6,006.9 6,006.1 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 2.0 46.9 -7.8 25.2 43.7 6.1 22.4 -.2 13.6 49.8 7.6 Goods.................................... 19.1 16.5 -2.3 14.1 46.9 -8.8 1.3 -6.6 7.0 35.7 8.9 Durable goods.......................... 25.5 4.9 -12.9 1.5 45.9 -7.1 5.5 2.9 8.6 7.7 8.6 Nondurable goods....................... -3.3 11.3 8.4 12.0 6.0 -2.3 -3.4 -8.6 -.5 27.0 1.3 Services................................. -15.7 30.4 -5.3 11.5 -.6 14.1 20.6 5.9 6.8 15.7 -.8 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .0 .5 -.1 .3 .5 .1 .2 .0 .1 .5 .1 Goods.................................... .6 .5 -.1 .5 1.5 -.3 .0 -.2 .2 1.1 .3 Durable goods.......................... 2.3 .4 -1.1 .1 4.1 -.6 .5 .3 .7 .7 .7 Nondurable goods....................... -.2 .6 .4 .6 .3 -.1 -.2 -.4 .0 1.3 .1 Services................................. -.3 .5 -.1 .2 .0 .2 .3 .1 .1 .3 .0 ---------------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------- Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 May 11 Jun 11 Jul 11 Aug 11 ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,276.3 9,315.0 9,334.0 9,352.0 9,378.9 9,411.7 9,416.2 9,405.2 9,388.3 9,433.3 9,428.4 Goods.................................... 3,264.1 3,280.7 3,284.8 3,307.6 3,323.1 3,330.1 3,336.3 3,311.5 3,288.9 3,318.1 3,309.1 Durable goods.......................... 1,221.6 1,227.3 1,234.1 1,242.7 1,247.8 1,257.6 1,254.9 1,241.7 1,230.2 1,252.2 1,247.2 Nondurable goods....................... 2,045.3 2,056.1 2,054.6 2,068.7 2,079.1 2,078.0 2,085.8 2,073.2 2,061.5 2,071.3 2,066.9 Services................................. 6,015.1 6,037.5 6,052.1 6,048.5 6,060.3 6,085.7 6,084.2 6,096.6 6,101.1 6,117.8 6,121.4 --------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 38.6 38.7 19.0 18.0 26.9 32.8 4.5 -11.0 -16.9 45.0 -4.9 Goods.................................... 31.1 16.6 4.1 22.8 15.5 7.0 6.2 -24.8 -22.6 29.2 -9.0 Durable goods.......................... 28.4 5.7 6.8 8.6 5.1 9.8 -2.7 -13.2 -11.5 22.0 -5.0 Nondurable goods....................... 6.1 10.8 -1.5 14.1 10.4 -1.1 7.8 -12.6 -11.7 9.8 -4.4 Services................................. 9.0 22.4 14.6 -3.6 11.8 25.4 -1.5 12.4 4.5 16.7 3.6 --------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates --------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .4 .4 .2 .2 .3 .3 .0 -.1 -.2 .5 -.1 Goods.................................... 1.0 .5 .1 .7 .5 .2 .2 -.7 -.7 .9 -.3 Durable goods.......................... 2.4 .5 .5 .7 .4 .8 -.2 -1.0 -.9 1.8 -.4 Nondurable goods....................... .3 .5 -.1 .7 .5 -.1 .4 -.6 -.6 .5 -.2 Services................................. .1 .4 .2 -.1 .2 .4 .0 .2 .1 .3 .1 ---------------------------------------------------------------------------------------------------------------------------------------------- Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)--Table Ends ------------------------------------------------------------------------------------------------------------------------------------- Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ Billions of chained (2005) dollars, seasonally adjusted at annual rates ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... 9,464.0 9,485.5 9,489.2 9,493.3 9,517.9 9,560.1 9,562.5 9,581.6 9,588.0 9,576.4 Goods.................................... 3,343.3 3,368.0 3,367.3 3,368.3 3,392.4 3,412.4 3,415.1 3,415.5 3,416.4 3,406.4 Durable goods.......................... 1,276.3 1,294.0 1,298.5 1,307.9 1,327.8 1,340.2 1,340.2 1,336.5 1,330.7 1,331.2 Nondurable goods....................... 2,076.1 2,085.3 2,081.2 2,075.2 2,082.2 2,091.0 2,093.5 2,096.6 2,101.7 2,092.3 Services................................. 6,124.2 6,122.1 6,126.4 6,129.4 6,130.9 6,153.5 6,153.3 6,171.5 6,177.0 6,174.9 ------------------------------------------------------------------------------------------ Change from preceding period in billions of chained (2005) dollars, seasonally adjusted at annual rates ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... 35.6 21.5 3.7 4.1 24.6 42.2 2.4 19.1 6.4 -11.6 Goods.................................... 34.2 24.7 -.7 1.0 24.1 20.0 2.7 .4 .9 -10.0 Durable goods.......................... 29.1 17.7 4.5 9.4 19.9 12.4 .0 -3.7 -5.8 .5 Nondurable goods....................... 9.2 9.2 -4.1 -6.0 7.0 8.8 2.5 3.1 5.1 -9.4 Services................................. 2.8 -2.1 4.3 3.0 1.5 22.6 -.2 18.2 5.5 -2.1 ------------------------------------------------------------------------------------------ Percent change from preceding period in chained (2005) dollars, seasonally adjusted at monthly rates ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... .4 .2 .0 .0 .3 .4 .0 .2 .1 -.1 Goods.................................... 1.0 .7 .0 .0 .7 .6 .1 .0 .0 -.3 Durable goods.......................... 2.3 1.4 .4 .7 1.5 .9 .0 -.3 -.4 .0 Nondurable goods....................... .4 .4 -.2 -.3 .3 .4 .1 .2 .2 -.4 Services................................. .0 .0 .1 .1 .0 .4 .0 .3 .1 .0 ------------------------------------------------------------------------------------------------------------------------------------- p Preliminary Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Continues [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 2011 IV 08 I 09 II 09 III 09 IV 09 ------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ Billions of chained (2005) dollars ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... 9,211.7 9,032.6 9,196.2 9,428.8 9,076.0 9,039.5 8,999.3 9,046.2 9,045.4 Goods.................................... 3,192.9 3,098.2 3,209.1 3,331.0 3,082.0 3,083.2 3,067.0 3,123.1 3,119.5 Durable goods.......................... 1,171.8 1,109.1 1,178.3 1,262.6 1,088.0 1,091.4 1,085.8 1,138.6 1,120.7 Nondurable goods....................... 2,019.1 1,982.8 2,029.3 2,075.2 1,985.3 1,983.7 1,973.3 1,981.4 1,992.9 Services................................. 6,017.0 5,930.6 5,987.6 6,101.5 5,988.8 5,951.5 5,926.9 5,920.7 5,923.2 ------------------------------------------------------------------------------------------ Change from preceding period in billions of chained (2005) dollars ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... -51.2 -179.1 163.6 232.6 -120.0 -36.5 -40.2 46.9 -.8 Goods.................................... -80.6 -94.7 110.9 121.9 -105.9 1.2 -16.2 56.1 -3.6 Durable goods.......................... -60.6 -62.7 69.2 84.3 -82.8 3.4 -5.6 52.8 -17.9 Nondurable goods....................... -23.8 -36.3 46.5 45.9 -30.1 -1.6 -10.4 8.1 11.5 Services................................. 26.8 -86.4 57.0 113.9 -17.7 -37.3 -24.6 -6.2 2.5 ------------------------------------------------------------------------------------------ Percent change from preceding period in chained (2005) dollars ------------------------------------------------------------------------------------------ Personal consumption expenditures.......... -.6 -1.9 1.8 2.5 -5.1 -1.6 -1.8 2.1 .0 Goods.................................... -2.5 -3.0 3.6 3.8 -12.6 .2 -2.1 7.5 -.5 Durable goods.......................... -4.9 -5.4 6.2 7.2 -25.4 1.3 -2.0 20.9 -6.1 Nondurable goods....................... -1.2 -1.8 2.3 2.3 -5.8 -.3 -2.1 1.7 2.3 Services................................. .4 -1.4 1.0 1.9 -1.2 -2.5 -1.6 -.4 .2 ------------------------------------------------------------------------------------------------------------------------------------- Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Table Ends [Quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------- I 10 II 10 III 10 IV 10 I 11 II 11 III 11 IV 11 I 12 II 12 ----------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Billions of chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 9,100.8 9,159.4 9,216.0 9,308.5 9,380.9 9,403.2 9,441.9 9,489.3 9,546.8 9,582.0 Goods.................................... 3,159.5 3,185.4 3,215.1 3,276.5 3,320.3 3,312.2 3,323.5 3,367.9 3,406.6 3,412.8 Durable goods.......................... 1,135.9 1,164.5 1,184.9 1,227.7 1,249.4 1,242.3 1,258.6 1,300.1 1,336.1 1,332.8 Nondurable goods....................... 2,017.7 2,018.3 2,029.4 2,052.0 2,075.3 2,073.5 2,071.4 2,080.5 2,088.9 2,096.9 Services................................. 5,940.4 5,973.6 6,001.4 6,034.9 6,064.8 6,094.0 6,121.1 6,126.0 6,145.9 6,174.5 ---------------------------------------------------------------------------------------------------- Change from preceding period in billions of chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 55.4 58.6 56.6 92.5 72.4 22.3 38.7 47.4 57.5 35.2 Goods.................................... 40.0 25.9 29.7 61.4 43.8 -8.1 11.3 44.4 38.7 6.2 Durable goods.......................... 15.2 28.6 20.4 42.8 21.7 -7.1 16.3 41.5 36.0 -3.3 Nondurable goods....................... 24.8 .6 11.1 22.6 23.3 -1.8 -2.1 9.1 8.4 8.0 Services................................. 17.2 33.2 27.8 33.5 29.9 29.2 27.1 4.9 19.9 28.6 ---------------------------------------------------------------------------------------------------- Percent change from preceding period in chained (2005) dollars ---------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... 2.5 2.6 2.5 4.1 3.1 1.0 1.7 2.0 2.4 1.5 Goods.................................... 5.2 3.3 3.8 7.9 5.4 -1.0 1.4 5.4 4.7 .7 Durable goods.......................... 5.5 10.5 7.2 15.2 7.3 -2.3 5.4 13.9 11.5 -1.0 Nondurable goods....................... 5.1 .1 2.2 4.5 4.6 -.3 -.4 1.8 1.6 1.5 Services................................. 1.2 2.3 1.9 2.3 2.0 1.9 1.8 .3 1.3 1.9 ----------------------------------------------------------------------------------------------------------------------------------------------- Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continues ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------ Chain-type price indexes (2005=100), seasonally adjusted ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures (PCE).... 107.847 107.947 108.188 108.055 108.178 108.306 109.005 109.027 109.362 109.557 109.935 110.200 110.290 110.535 110.601 Goods.................................... 100.700 100.945 101.722 101.491 101.726 101.975 103.665 103.458 103.976 104.236 104.438 104.780 104.843 105.183 105.001 Durable goods.......................... 93.242 93.143 93.174 93.070 93.106 93.033 93.038 92.566 92.293 92.483 92.698 92.765 92.587 92.483 92.241 Nondurable goods....................... 105.208 105.643 106.833 106.529 106.869 107.292 109.921 109.860 110.841 111.139 111.334 111.832 112.035 112.629 112.481 Services................................. 111.635 111.664 111.629 111.550 111.617 111.684 111.870 112.011 112.250 112.410 112.882 113.105 113.208 113.401 113.596 Addenda: PCE excluding food and energy............ 107.670 107.728 107.827 107.924 108.154 108.260 108.441 108.521 108.679 108.882 109.241 109.352 109.424 109.568 109.704 Food\1\.................................. 114.807 114.787 114.410 114.094 113.612 113.223 113.352 112.910 112.914 112.570 112.709 112.803 113.009 113.096 113.205 Energy goods and services\2\............. 99.889 101.098 104.697 101.035 100.163 101.356 111.619 111.323 115.188 115.996 117.032 120.166 120.377 122.502 121.328 Market-based PCE\3\...................... 107.715 107.977 108.351 108.307 108.419 108.540 109.270 109.232 109.589 109.739 110.006 110.227 110.300 110.496 110.490 Market-based PCE excluding food and energy\3\........................... 107.488 107.726 107.955 108.192 108.426 108.519 108.653 108.673 108.827 108.980 109.207 109.242 109.292 109.363 109.427 ------------------------------------------------------------------------------------------------------------------------ Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures.......... -.5 .1 .2 -.1 .1 .1 .6 .0 .3 .2 .3 .2 .1 .2 .1 Goods.................................... -1.8 .2 .8 -.2 .2 .2 1.7 -.2 .5 .3 .2 .3 .1 .3 -.2 Durable goods.......................... -.5 -.1 .0 -.1 .0 -.1 .0 -.5 -.3 .2 .2 .1 -.2 -.1 -.3 Nondurable goods....................... -2.4 .4 1.1 -.3 .3 .4 2.5 -.1 .9 .3 .2 .4 .2 .5 -.1 Services................................. .1 .0 .0 -.1 .1 .1 .2 .1 .2 .1 .4 .2 .1 .2 .2 Addenda: PCE excluding food and energy............ .0 .1 .1 .1 .2 .1 .2 .1 .1 .2 .3 .1 .1 .1 .1 Food\1\.................................. -.1 .0 -.3 -.3 -.4 -.3 .1 -.4 .0 -.3 .1 .1 .2 .1 .1 Energy goods and services\2\............. -9.7 1.2 3.6 -3.5 -.9 1.2 10.1 -.3 3.5 .7 .9 2.7 .2 1.8 -1.0 Market-based PCE\3\...................... -.6 .2 .3 .0 .1 .1 .7 .0 .3 .1 .2 .2 .1 .2 .0 Market-based PCE excluding food and energy\3\........................... .0 .2 .2 .2 .2 .1 .1 .0 .1 .1 .2 .0 .0 .1 .1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 110.791 110.801 110.790 110.810 110.980 111.169 111.312 111.580 111.709 111.963 112.243 112.613 113.063 113.425 Goods.................................... 104.892 104.610 104.204 104.036 104.274 104.591 104.755 105.235 105.402 106.044 106.541 107.211 108.047 108.632 Durable goods.......................... 92.299 92.114 91.923 91.613 91.339 91.423 91.298 91.089 90.931 90.583 90.643 90.810 90.801 90.985 Nondurable goods....................... 112.281 111.944 111.414 111.329 111.864 112.317 112.649 113.534 113.893 115.124 115.882 116.849 118.191 119.013 Services................................. 113.944 114.109 114.308 114.428 114.561 114.683 114.815 114.969 115.078 115.123 115.285 115.492 115.731 115.973 Addenda: PCE excluding food and energy............ 109.944 110.001 110.132 110.230 110.296 110.402 110.487 110.561 110.637 110.609 110.806 110.974 111.139 111.366 Food\1\.................................. 113.439 113.612 113.627 113.528 113.610 113.695 113.972 114.149 114.289 114.465 115.114 115.931 116.874 117.279 Energy goods and services\2\............. 120.605 119.582 117.120 116.001 118.045 119.793 120.713 124.444 125.471 130.759 131.958 135.245 140.014 142.731 Market-based PCE\3\...................... 110.559 110.539 110.483 110.507 110.672 110.863 110.979 111.216 111.360 111.681 111.953 112.393 112.880 113.252 Market-based PCE excluding food and energy\3\........................... 109.534 109.564 109.666 109.779 109.824 109.918 109.963 109.970 110.056 110.061 110.236 110.455 110.620 110.836 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .2 .0 .0 .0 .2 .2 .1 .2 .1 .2 .3 .3 .4 .3 Goods.................................... -.1 -.3 -.4 -.2 .2 .3 .2 .5 .2 .6 .5 .6 .8 .5 Durable goods.......................... .1 -.2 -.2 -.3 -.3 .1 -.1 -.2 -.2 -.4 .1 .2 .0 .2 Nondurable goods....................... -.2 -.3 -.5 -.1 .5 .4 .3 .8 .3 1.1 .7 .8 1.1 .7 Services................................. .3 .1 .2 .1 .1 .1 .1 .1 .1 .0 .1 .2 .2 .2 Addenda: PCE excluding food and energy............ .2 .1 .1 .1 .1 .1 .1 .1 .1 .0 .2 .2 .1 .2 Food\1\.................................. .2 .2 .0 -.1 .1 .1 .2 .2 .1 .2 .6 .7 .8 .3 Energy goods and services\2\............. -.6 -.8 -2.1 -1.0 1.8 1.5 .8 3.1 .8 4.2 .9 2.5 3.5 1.9 Market-based PCE\3\...................... .1 .0 -.1 .0 .1 .2 .1 .2 .1 .3 .2 .4 .4 .3 Market-based PCE excluding food and energy\3\........................... .1 .0 .1 .1 .0 .1 .0 .0 .1 .0 .2 .2 .1 .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)--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Chain-type price indexes (2005=100), seasonally adjusted ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 113.686 113.788 114.052 114.323 114.504 114.505 114.597 114.676 114.964 115.335 115.602 115.608 115.391 115.518 Goods.................................... 108.881 108.946 109.315 109.673 109.910 109.692 109.636 109.379 109.714 110.358 110.696 110.372 109.492 109.349 Durable goods.......................... 91.090 91.238 91.190 91.024 90.665 90.616 90.372 90.155 90.219 90.187 90.065 89.923 89.944 89.815 Nondurable goods....................... 119.347 119.360 119.978 120.650 121.251 120.931 120.993 120.712 121.214 122.283 122.912 122.473 121.028 120.877 Services................................. 116.242 116.364 116.572 116.797 116.946 117.067 117.239 117.504 117.767 117.986 118.214 118.403 118.553 118.828 Addenda: PCE excluding food and energy............ 111.621 111.810 112.001 112.188 112.223 112.343 112.492 112.664 112.949 113.104 113.313 113.447 113.579 113.817 Food\1\.................................. 117.731 118.030 118.492 119.190 119.780 120.050 119.995 120.288 120.457 120.437 120.597 120.716 120.576 120.870 Energy goods and services\2\............. 142.852 141.081 142.353 143.503 145.716 143.173 142.429 140.427 140.909 146.004 147.531 144.862 138.068 135.864 Market-based PCE\3\...................... 113.504 113.631 113.901 114.205 114.439 114.419 114.508 114.604 114.881 115.282 115.530 115.507 115.276 115.359 Market-based PCE excluding food and energy\3\........................... 111.078 111.310 111.498 111.710 111.784 111.898 112.053 112.258 112.530 112.686 112.863 112.984 113.153 113.359 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period in price indexes, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal consumption expenditures.......... .2 .1 .2 .2 .2 .0 .1 .1 .3 .3 .2 .0 -.2 .1 Goods.................................... .2 .1 .3 .3 .2 -.2 -.1 -.2 .3 .6 .3 -.3 -.8 -.1 Durable goods.......................... .1 .2 -.1 -.2 -.4 -.1 -.3 -.2 .1 .0 -.1 -.2 .0 -.1 Nondurable goods....................... .3 .0 .5 .6 .5 -.3 .1 -.2 .4 .9 .5 -.4 -1.2 -.1 Services................................. .2 .1 .2 .2 .1 .1 .1 .2 .2 .2 .2 .2 .1 .2 Addenda: PCE excluding food and energy............ .2 .2 .2 .2 .0 .1 .1 .2 .3 .1 .2 .1 .1 .2 Food\1\.................................. .4 .3 .4 .6 .5 .2 .0 .2 .1 .0 .1 .1 -.1 .2 Energy goods and services\2\............. .1 -1.2 .9 .8 1.5 -1.7 -.5 -1.4 .3 3.6 1.0 -1.8 -4.7 -1.6 Market-based PCE\3\...................... .2 .1 .2 .3 .2 .0 .1 .1 .2 .3 .2 .0 -.2 .1 Market-based PCE excluding food and energy\3\........................... .2 .2 .2 .2 .1 .1 .1 .2 .2 .1 .2 .1 .1 .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 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. .5 -.4 -1.9 -2.4 -1.7 -4.9 -4.3 -3.2 -2.8 -2.8 -3.2 -3.4 -2.3 -1.7 -.2 Personal consumption expenditures.......... -3.1 -2.6 -2.5 -3.0 -3.2 -3.0 -3.0 -2.2 -1.1 -1.5 -.9 -.6 .5 .0 .6 Goods.................................... -7.4 -5.3 -4.3 -5.7 -6.1 -5.5 -5.5 -3.5 -.9 -1.8 -.1 1.0 2.8 1.2 2.0 Durable goods.......................... -13.6 -10.1 -10.3 -10.9 -12.0 -10.1 -8.6 -4.6 1.1 -4.8 .4 3.3 5.3 1.0 3.0 Nondurable goods....................... -4.2 -2.8 -1.2 -3.1 -3.2 -3.1 -4.0 -2.9 -1.9 -.3 -.3 -.1 1.6 1.3 1.5 Services................................. -.9 -1.2 -1.6 -1.6 -1.7 -1.8 -1.8 -1.6 -1.2 -1.5 -1.3 -1.4 -.6 -.6 -.1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ----------------------------------------------------------------------------------------------------------------------------------------------------------- Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. .5 1.0 .3 2.3 2.7 3.4 3.2 3.7 3.5 3.3 3.5 3.4 2.6 1.8 Personal consumption expenditures.......... 1.4 1.7 1.8 1.9 1.8 1.3 2.5 2.7 3.2 2.8 3.1 3.1 3.0 3.0 Goods.................................... 4.3 4.4 3.6 3.6 2.9 1.3 4.7 5.3 5.1 4.7 5.5 5.5 4.2 4.7 Durable goods.......................... 8.3 8.7 6.9 6.2 5.1 -1.4 9.1 10.8 8.8 9.0 11.0 11.3 7.8 8.2 Nondurable goods....................... 2.4 2.4 2.1 2.4 1.9 2.7 2.7 2.7 3.4 2.8 3.0 2.9 2.6 3.1 Services................................. .1 .4 .9 1.1 1.2 1.4 1.5 1.5 2.2 1.9 1.9 1.9 2.4 2.1 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income................. 1.0 .9 .9 .4 .5 .7 .3 .0 -.2 .0 .6 .7 1.4 1.7 Personal consumption expenditures.......... 2.6 2.4 2.8 2.1 2.5 2.3 1.9 1.7 1.8 1.9 1.6 1.8 1.9 2.0 Goods.................................... 3.9 3.4 4.1 2.6 3.4 3.2 2.6 2.5 2.6 2.7 2.6 2.4 3.2 3.6 Durable goods.......................... 6.6 5.3 6.4 5.3 7.0 5.9 5.8 6.0 6.8 7.4 6.6 6.5 7.2 8.2 Nondurable goods....................... 2.6 2.5 3.0 1.4 1.8 2.0 1.2 1.0 .6 .6 .7 .5 1.4 1.5 Services................................. 2.0 2.0 2.1 1.9 2.0 1.8 1.5 1.3 1.4 1.5 1.1 1.4 1.3 1.2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- p Preliminary Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continues ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... .6 .4 .4 -.1 -.3 -.6 -.6 -1.1 -.7 -.7 .2 1.7 2.3 2.4 2.2 Goods.................................... -3.8 -4.0 -3.4 -3.9 -3.9 -4.1 -3.6 -4.8 -3.9 -3.8 -1.9 2.2 4.1 4.2 3.2 Durable goods.......................... -2.4 -2.5 -2.4 -2.4 -2.0 -1.8 -1.7 -2.3 -2.4 -2.0 -1.6 -1.0 -.7 -.7 -1.0 Nondurable goods....................... -4.5 -4.6 -3.9 -4.6 -4.9 -5.2 -4.6 -6.1 -4.7 -4.7 -2.1 3.7 6.5 6.6 5.3 Services................................. 2.8 2.6 2.3 1.8 1.5 1.1 1.0 .8 .9 1.0 1.3 1.4 1.4 1.6 1.8 Addenda: PCE excluding food and energy............ 1.8 1.6 1.6 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.5 1.6 1.6 1.7 1.7 Food\1\.................................. 6.8 5.9 5.0 4.5 2.7 2.1 1.5 .0 -.6 -1.5 -1.7 -1.9 -1.6 -1.5 -1.1 Energy goods and services\2\............. -23.7 -23.3 -21.5 -25.7 -27.1 -28.6 -25.8 -29.4 -24.4 -23.0 -14.9 8.6 20.5 21.2 15.9 Market-based PCE\3\...................... .5 .4 .5 .2 .0 -.3 -.3 -.9 -.5 -.6 .2 1.8 2.4 2.3 2.0 Market-based PCE excluding food and energy\3\........................... 2.0 1.9 1.9 2.0 2.1 2.1 2.0 1.8 1.7 1.7 1.7 1.7 1.7 1.5 1.4 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 2.5 2.4 2.3 1.7 1.8 1.7 1.6 1.5 1.4 1.5 1.5 1.8 2.1 2.4 Goods.................................... 3.4 2.8 2.2 .4 .8 .6 .5 .8 .6 1.1 1.3 2.1 3.0 3.8 Durable goods.......................... -.8 -1.1 -1.2 -1.5 -1.3 -.9 -1.3 -1.7 -2.0 -2.2 -2.0 -1.6 -1.6 -1.2 Nondurable goods....................... 5.4 4.7 3.8 1.3 1.8 1.3 1.4 2.0 1.8 2.8 2.9 3.9 5.3 6.3 Services................................. 2.1 2.2 2.3 2.3 2.3 2.2 2.1 1.8 1.7 1.7 1.7 1.7 1.6 1.6 Addenda: PCE excluding food and energy............ 1.9 1.7 1.7 1.6 1.6 1.6 1.5 1.2 1.2 1.1 1.1 1.2 1.1 1.2 Food\1\.................................. -.6 .0 .4 .2 .6 .7 1.2 1.3 1.3 1.3 1.8 2.4 3.0 3.2 Energy goods and services\2\............. 19.4 19.4 15.6 3.9 6.0 4.0 4.1 6.3 4.4 8.6 7.7 11.5 16.1 19.4 Market-based PCE\3\...................... 2.1 2.0 1.8 1.1 1.3 1.2 1.1 1.1 1.0 1.3 1.3 1.7 2.1 2.5 Market-based PCE excluding food and energy\3\........................... 1.2 1.0 1.1 1.0 1.1 1.0 .9 .7 .7 .7 .8 .9 1.0 1.2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Table Ends ----------------------------------------------------------------------------------------------------------------------------------------------------------- May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12\p\ ----------------------------------------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures (PCE).... 2.6 2.7 2.8 2.8 2.9 2.6 2.6 2.4 2.4 2.4 2.2 1.9 1.5 1.5 Goods.................................... 4.5 4.7 4.8 4.9 4.9 4.2 4.0 3.1 3.0 2.9 2.5 1.6 .6 .4 Durable goods.......................... -.9 -.4 -.2 -.4 -.7 -.5 -.6 -.5 -.5 -.7 -.8 -1.2 -1.3 -1.6 Nondurable goods....................... 7.1 7.2 7.3 7.4 7.6 6.5 6.2 4.9 4.6 4.7 4.0 2.9 1.4 1.3 Services................................. 1.7 1.7 1.8 1.8 1.9 1.8 1.9 2.1 2.2 2.2 2.1 2.1 2.0 2.1 Addenda: PCE excluding food and energy............ 1.4 1.4 1.5 1.6 1.6 1.6 1.7 1.9 1.9 1.9 2.0 1.9 1.8 1.8 Food\1\.................................. 3.6 4.0 4.3 4.8 5.1 5.2 5.0 5.1 4.6 3.9 3.2 2.9 2.4 2.4 Energy goods and services\2\............. 22.0 21.6 20.6 19.8 20.7 15.1 13.5 7.4 6.8 8.0 5.4 1.5 -3.3 -3.7 Market-based PCE\3\...................... 2.7 2.8 2.9 3.0 3.1 2.9 2.8 2.6 2.6 2.6 2.3 2.0 1.6 1.5 Market-based PCE excluding food and energy\3\........................... 1.3 1.4 1.5 1.6 1.7 1.8 1.8 2.0 2.1 2.0 2.0 1.9 1.9 1.8 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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 ------------------------ ------------------------ ------------------------ 2009 2010 2011 2009 2010 2011 2009 2010 2011 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................ 11,867.0 12,321.9 12,947.3 -63.2 -51.6 -43.9 -.5 -.4 -.3 Compensation of employees, received...... 7,794.4 7,970.0 8,295.2 -7.0 -1.4 18.6 -.1 .0 .2 Wage and salary disbursements.......... 6,270.3 6,404.6 6,661.3 .0 -3.6 -6.9 .0 -.1 -.1 Private industries................... 5,095.1 5,213.3 5,466.0 .1 -4.1 -11.9 .0 -.1 -.2 Goods-producing industries......... 1,063.3 1,057.5 1,108.6 -.1 -1.7 2.5 .0 -.2 .2 Manufacturing.................... 661.5 674.1 706.6 .6 -.1 2.7 .1 .0 .4 Services-producing industries...... 4,031.8 4,155.8 4,357.4 .1 -2.4 -14.4 .0 -.1 -.3 Trade, transportation, and utilities....................... 989.1 1,005.5 1,050.1 -.5 -.5 -1.9 -.1 .0 -.2 Other services-producing industries...................... 3,042.7 3,150.3 3,307.3 .7 -1.9 -12.5 .0 -.1 -.4 Government........................... 1,175.2 1,191.3 1,195.3 -.1 .5 5.0 .0 .0 .4 Supplements to wages and salaries...... 1,524.0 1,565.4 1,633.9 -7.1 2.3 25.5 -.5 .1 1.6 Employer contributions for employee pension and insurance funds......... 1,067.2 1,097.3 1,139.0 -5.9 7.4 28.0 -.5 .7 2.5 Employer contributions for government social insurance.................... 456.9 468.1 494.9 -1.1 -5.1 -2.5 -.2 -1.1 -.5 Proprietors' income with inventory valuation and capital consumption adjustments............................. 979.4 1,103.4 1,157.3 38.2 67.0 48.4 4.1 6.5 4.4 Farm................................... 39.9 44.3 54.6 .7 -7.9 -11.3 1.8 -15.1 -17.1 Nonfarm................................ 939.5 1,059.1 1,102.8 37.5 74.9 59.8 4.2 7.6 5.7 Rental income of persons with capital consumption adjustment.................. 289.7 349.2 409.7 -16.2 -1.0 5.8 -5.3 -.3 1.4 Personal income receipts on assets....... 1,626.5 1,598.3 1,685.1 -81.2 -122.9 -104.9 -4.8 -7.1 -5.9 Personal interest income............... 1,093.3 1,016.6 1,008.8 -15.6 13.2 10.7 -1.4 1.3 1.1 Personal dividend income............... 533.2 581.7 676.3 -65.6 -136.0 -115.6 -11.0 -18.9 -14.6 Personal current transfer receipts....... 2,140.1 2,284.3 2,319.2 2.0 3.1 -17.0 .1 .1 -.7 Government social benefits to persons.. 2,100.5 2,236.9 2,274.3 .6 -6.0 -22.5 .0 -.3 -1.0 Social security\1\................... 664.5 690.2 713.3 .0 .0 -.2 .0 .0 .0 Medicare\2\.......................... 494.5 515.3 545.1 .7 -3.1 -8.6 .1 -.6 -1.6 Medicaid............................. 369.2 396.6 403.9 -4.9 -8.8 -20.4 -1.3 -2.2 -4.8 Unemployment insurance............... 131.2 138.9 108.0 .6 .2 .6 .5 .1 .6 Veterans' benefits................... 51.5 57.9 63.3 .0 .0 -.1 .0 .0 -.2 Other................................ 389.7 438.1 440.8 4.3 5.7 6.2 1.1 1.3 1.4 Other current transfer receipts, from business (net)........................ 39.6 47.4 44.9 1.4 9.1 5.4 3.7 23.8 13.7 Less: Contributions for government social insurance, domestic..................... 963.1 983.3 919.3 -1.0 -3.5 -5.1 -.1 -.4 -.6 Less: Personal current taxes............... 1,144.6 1,194.8 1,398.0 3.2 .9 .3 .3 .1 .0 Equals: Disposable personal income......... 10,722.4 11,127.1 11,549.3 -66.4 -52.6 -44.2 -.6 -.5 -.4 Less: Personal outlays..................... 10,214.3 10,560.4 11,059.9 -22.0 -26.5 4.8 -.2 -.3 .0 Personal consumption expenditures........ 9,845.9 10,215.7 10,729.0 -20.2 -29.8 3.0 -.2 -.3 .0 Goods.................................. 3,194.4 3,364.9 3,624.8 -3.1 -22.1 -21.8 -.1 -.7 -.6 Durable goods........................ 1,029.6 1,079.4 1,146.4 .0 -6.1 -16.5 .0 -.6 -1.4 Nondurable goods..................... 2,164.8 2,285.5 2,478.4 -3.0 -16.0 -5.3 -.1 -.7 -.2 Services............................... 6,651.5 6,850.9 7,104.2 -17.2 -7.6 24.8 -.3 -.1 .4 Personal interest payments\3\............ 217.1 183.8 168.0 3.4 10.4 10.2 1.6 6.0 6.5 Personal current transfer payments....... 151.3 160.9 162.8 -5.2 -7.1 -8.5 -3.3 -4.2 -5.0 To government.......................... 85.2 87.4 88.9 -3.9 -7.7 -8.8 -4.4 -8.1 -9.0 To the rest of the world (net)......... 66.1 73.5 73.9 -1.3 .6 .3 -1.9 .8 .4 Equals: Personal saving.................... 508.2 566.7 489.4 -44.4 -26.1 -49.1 ..... ..... ..... Personal saving as a percentage of disposable personal income.............. 4.7 5.1 4.2 -.4 -.2 -.4 ..... ..... ..... Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars\4\............... 8,923.4 9,035.8 9,340.0 -46.3 -47.2 -18.9 -.5 -.5 -.2 Disposable personal income: Total, billions of chained (2005) dollars\4\............................ 9,836.7 10,016.5 10,149.7 -46.0 -45.1 -33.6 -.5 -.4 -.3 Per capita: Current dollars...................... 34,899 35,920 37,012 -216 -170 -142 -.6 -.5 -.4 Chained (2005) dollars............... 32,016 32,335 32,527 -150 -146 -108 -.5 -.4 -.3 Population (midperiod, thousands)\5\..... 307,240 309,774 312,040 0 0 0 .0 .0 .0 ------------------------------------------------------------------------------------------------------------------------------------- 1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 3. Consists of nonmortgage interest paid by households. 4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. 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 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------------- Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 ---------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... -140.9 -160.0 -144.2 -83.5 -1.1 154.4 -138.9 -45.5 -.7 8.0 -.9 62.2 77.0 109.6 Previously published............ -140.9 -135.8 -130.5 -73.0 15.0 156.7 -142.7 -38.7 6.0 22.9 -16.5 57.8 74.2 92.8 Disposable personal income........ -114.4 6.8 -115.9 -51.3 43.5 158.1 -137.4 -49.8 -3.9 7.4 -1.1 57.2 73.9 89.8 Previously published............ -114.4 31.6 -100.7 -40.6 57.3 160.9 -139.6 -40.8 3.6 22.9 -16.7 52.6 70.0 82.1 Personal consumption expenditures. -102.2 45.5 -9.8 -46.0 -4.2 22.8 55.2 26.2 125.7 -88.5 53.5 26.1 59.7 13.7 Previously published............ -102.2 53.7 -2.3 -45.7 -.2 22.3 49.4 34.1 118.8 -72.6 55.7 19.5 57.1 20.0 Personal saving as a percentage of disposable personal income...... 6.5 6.1 5.2 5.2 5.6 6.7 5.0 4.3 3.1 4.0 3.5 3.9 4.0 4.7 Previously published.............. 6.5 6.2 5.4 5.4 5.9 7.1 5.5 4.8 3.7 4.6 4.0 4.3 4.5 5.0 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal income..................... -1.1 -1.3 -1.2 -.7 .0 1.3 -1.2 -.4 .0 .1 .0 .5 .6 .9 Previously published.............. -1.1 -1.1 -1.1 -.6 .1 1.3 -1.2 -.3 .0 .2 -.1 .5 .6 .8 Disposable personal income.......... -1.0 .1 -1.1 -.5 .4 1.5 -1.3 -.5 .0 .1 .0 .5 .7 .8 Previously published.............. -1.0 .3 -.9 -.4 .5 1.5 -1.3 -.4 .0 .2 -.2 .5 .6 .8 Personal consumption expenditures... -1.0 .5 -.1 -.5 .0 .2 .6 .3 1.3 -.9 .5 .3 .6 .1 Previously published.............. -1.0 .6 .0 -.5 .0 .2 .5 .3 1.2 -.7 .6 .2 .6 .2 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... -.5 .0 -1.3 -.4 .3 1.4 -1.9 -.5 -.3 -.1 -.4 .3 .6 .6 Previously published.............. -.5 .1 -1.2 -.3 .4 1.4 -1.8 -.5 -.3 .0 -.5 .3 .6 .5 Real personal consumption expenditures....................... -.5 .4 -.3 -.3 -.2 .1 -.1 .2 1.0 -1.1 .2 .0 .5 -.1 Previously published.............. -.5 .4 -.3 -.4 -.2 .1 .0 .3 .9 -.9 .2 .0 .5 .0 ---------------------------------------------------------------------------------------------------------------------------------------------------- Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continues ---------------------------------------------------------------------------------------------------------------------------------------------------- Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 ---------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 29.5 66.8 88.1 76.7 21.4 27.4 60.6 -3.0 47.8 29.3 81.6 243.3 50.4 16.6 Previously published............ 28.0 58.1 86.1 71.9 17.4 48.0 63.6 4.9 68.3 15.8 63.2 155.3 70.3 59.1 Disposable personal income........ 29.5 61.7 84.4 66.3 15.1 8.8 46.3 -12.0 37.6 25.7 74.5 122.8 42.8 6.3 Previously published............ 25.3 49.3 75.5 57.9 10.6 31.9 50.0 -4.3 56.7 11.0 55.4 50.2 56.0 48.6 Personal consumption expenditures. 33.8 65.7 7.6 23.8 1.7 30.6 72.7 21.7 67.9 55.1 45.0 46.3 64.9 79.3 Previously published............ 44.2 58.8 11.5 25.5 -4.0 37.3 58.4 29.3 61.8 40.3 38.4 41.9 79.7 61.5 Personal saving as a percentage of disposable personal income...... 4.6 4.6 5.3 5.7 5.8 5.6 5.4 5.2 4.9 4.6 4.9 5.5 5.2 4.6 Previously published.............. 4.8 4.8 5.4 5.6 5.8 5.7 5.6 5.4 5.3 5.1 5.2 5.2 5.0 4.9 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal income..................... .2 .6 .7 .6 .2 .2 .5 .0 .4 .2 .7 1.9 .4 .1 Previously published.............. .2 .5 .7 .6 .1 .4 .5 .0 .5 .1 .5 1.2 .6 .5 Disposable personal income.......... .3 .6 .8 .6 .1 .1 .4 -.1 .3 .2 .7 1.1 .4 .1 Previously published.............. .2 .4 .7 .5 .1 .3 .4 .0 .5 .1 .5 .4 .5 .4 Personal consumption expenditures... .3 .7 .1 .2 .0 .3 .7 .2 .7 .5 .4 .4 .6 .8 Previously published.............. .4 .6 .1 .3 .0 .4 .6 .3 .6 .4 .4 .4 .8 .6 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... .2 .4 .8 .6 .1 -.1 .2 -.2 .1 .1 .4 .8 .0 -.3 Previously published.............. .1 .3 .6 .6 .3 .1 .3 -.2 .3 .0 .2 .1 .1 .0 Real personal consumption expenditures....................... .3 .5 .1 .2 .0 .1 .5 .1 .4 .4 .2 .2 .3 .3 Previously published.............. .4 .4 .1 .3 .1 .1 .4 .2 .4 .3 .1 .0 .4 .2 ---------------------------------------------------------------------------------------------------------------------------------------------------- Table 13. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Table Ends ---------------------------------------------------------------------------------------------------------------------------------------------------- Apr 11 May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 ---------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 43.1 4.2 25.8 19.4 -6.1 10.4 44.3 -31.1 37.8 109.3 82.8 61.8 25.1 39.0 Previously published............ 29.0 18.5 12.9 62.4 16.6 39.7 13.7 -16.7 43.1 48.0 49.4 53.8 29.4 25.4 Disposable personal income........ 33.2 .0 19.8 18.7 -5.3 5.7 33.2 -29.9 31.2 93.8 71.1 53.6 17.6 31.7 Previously published............ 18.7 8.9 7.2 57.7 18.5 32.3 9.9 -16.4 35.8 32.2 41.2 48.0 19.5 18.5 Personal consumption expenditures. 39.2 12.1 -9.6 76.1 19.9 57.9 24.7 12.9 12.3 55.5 84.0 28.3 22.7 -13.3 Previously published............ 30.4 20.5 -21.7 81.0 14.0 77.2 21.1 5.3 19.2 47.5 106.2 8.2 16.2 -4.7 Personal saving as a percentage of disposable personal income...... 4.5 4.4 4.7 4.2 4.0 3.5 3.6 3.2 3.4 3.6 3.5 3.6 3.6 4.0 Previously published.............. 4.8 4.7 5.0 4.7 4.7 4.3 4.2 4.0 4.2 4.0 3.4 3.7 3.7 3.9 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Personal income..................... .3 .0 .2 .1 .0 .1 .3 -.2 .3 .8 .6 .5 .2 .3 Previously published.............. .2 .1 .1 .5 .1 .3 .1 -.1 .3 .4 .4 .4 .2 .2 Disposable personal income.......... .3 .0 .2 .2 .0 .0 .3 -.3 .3 .8 .6 .5 .1 .3 Previously published.............. .2 .1 .1 .5 .2 .3 .1 -.1 .3 .3 .4 .4 .2 .2 Personal consumption expenditures... .4 .1 -.1 .7 .2 .5 .2 .1 .1 .5 .8 .3 .2 -.1 Previously published.............. .3 .2 -.2 .8 .1 .7 .2 .0 .2 .4 1.0 .1 .1 .0 ---------------------------------------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures, seasonally adjusted at monthly rates ---------------------------------------------------------------------------------------------------------------- Real disposable personal income..... .0 -.2 .1 -.1 -.3 -.1 .3 -.3 .2 .6 .3 .2 .1 .5 Previously published.............. -.2 -.1 .2 .1 -.1 .1 .1 -.2 .2 .0 .0 .2 .1 .3 Real personal consumption expenditures....................... .0 -.1 -.2 .5 -.1 .4 .2 .0 .0 .3 .4 .0 .2 .1 Previously published.............. -.1 .0 -.1 .4 -.1 .5 .2 .0 .1 .2 .6 -.2 .1 .1 ---------------------------------------------------------------------------------------------------------------------------------------------------- Table 14. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Years and Quarters)--Continues [Quarters seasonally adjusted at annual rates] --------------------------------------------------------------------------------------------------------------------- 2008 2009 2010 2011 IV 08 I 09 II 09 III 09 IV 09 --------------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 547.9 -593.2 454.9 625.4 -173.3 -412.5 -48.2 -84.4 71.3 Previously published............ 547.9 -530.0 443.3 617.7 -173.3 -375.6 -20.3 -70.0 64.1 Disposable personal income........ 600.9 -302.1 404.7 422.2 -163.9 -189.5 30.3 -88.9 65.4 Previously published............ 600.9 -235.7 390.9 413.8 -163.9 -151.0 57.5 -70.3 58.2 Personal consumption expenditures. 263.2 -189.6 369.8 513.3 -274.5 -92.9 -4.5 124.9 73.7 Previously published............ 263.2 -169.4 379.4 480.5 -274.5 -79.6 -.1 129.5 78.9 Personal saving as a percentage of disposable personal income...... 5.4 4.7 5.1 4.2 6.2 5.5 5.8 3.8 3.8 Previously published.............. 5.4 5.1 5.3 4.6 6.2 5.7 6.2 4.4 4.3 --------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures --------------------------------------------------------------------------------- Personal income..................... 4.6 -4.8 3.8 5.1 -5.4 -12.7 -1.6 -2.8 2.4 Previously published.............. 4.6 -4.3 3.7 5.0 -5.4 -11.6 -.7 -2.3 2.2 Disposable personal income.......... 5.8 -2.7 3.8 3.8 -5.8 -6.8 1.1 -3.3 2.5 Previously published.............. 5.8 -2.1 3.6 3.7 -5.8 -5.4 2.2 -2.6 2.2 Personal consumption expenditures... 2.7 -1.9 3.8 5.0 -10.4 -3.7 -.2 5.2 3.0 Previously published.............. 2.7 -1.7 3.8 4.7 -10.4 -3.2 .0 5.4 3.2 --------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures --------------------------------------------------------------------------------- Real disposable personal income..... 2.4 -2.8 1.8 1.3 -.2 -4.7 -.5 -6.1 -.6 Previously published.............. 2.4 -2.3 1.8 1.2 -.2 -3.8 .3 -5.4 -.6 Real personal consumption expenditures....................... -.6 -1.9 1.8 2.5 -5.1 -1.6 -1.8 2.1 .0 Previously published.............. -.6 -1.9 2.0 2.2 -5.1 -1.5 -1.9 2.3 .4 --------------------------------------------------------------------------------------------------------------------- Table 14. Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Years and Quarters)--Table Ends [Quarters seasonally adjusted at annual rates] --------------------------------------------------------------------------------------------------------------------- I 10 II 10 III 10 IV 10 I 11 II 11 III 11 IV 11 I 12 --------------------------------------------------------------------------------------------------------------------- Change from preceding period in billions of dollars: Personal income................... 223.6 200.8 106.6 112.7 346.6 82.4 37.4 41.1 199.9 Previously published............ 199.5 187.9 127.6 124.4 269.3 108.4 101.5 48.9 122.1 Disposable personal income........ 198.3 184.6 67.9 87.0 211.7 58.2 30.3 25.7 169.9 Previously published............ 179.6 158.9 90.2 96.3 144.3 78.2 88.5 38.6 94.1 Personal consumption expenditures. 106.6 79.2 95.3 158.3 164.4 118.6 106.3 82.6 133.4 Previously published............ 113.7 81.1 91.8 140.5 154.6 104.3 108.5 87.1 135.6 Personal saving as a percentage of disposable personal income...... 4.6 5.6 5.4 4.8 5.1 4.6 3.9 3.4 3.6 Previously published.............. 4.9 5.6 5.6 5.2 5.0 4.8 4.6 4.2 3.7 --------------------------------------------------------------------------------- Percent change from preceding period for current-dollar measures --------------------------------------------------------------------------------- Personal income..................... 7.8 6.8 3.5 3.7 11.6 2.6 1.2 1.3 6.3 Previously published.............. 6.9 6.3 4.2 4.1 8.8 3.4 3.2 1.5 3.8 Disposable personal income.......... 7.6 6.9 2.5 3.1 7.7 2.0 1.1 .9 6.0 Previously published.............. 6.8 5.9 3.3 3.5 5.2 2.8 3.1 1.3 3.3 Personal consumption expenditures... 4.3 3.2 3.8 6.3 6.5 4.6 4.0 3.1 5.0 Previously published.............. 4.6 3.2 3.7 5.6 6.1 4.0 4.1 3.3 5.1 --------------------------------------------------------------------------------- Percent change from preceding period for chained-dollar measures --------------------------------------------------------------------------------- Real disposable personal income..... 5.7 6.3 1.2 1.0 4.4 -1.5 -1.3 -.2 3.4 Previously published.............. 4.9 5.6 2.3 1.5 1.2 -.5 .7 .2 .7 Real personal consumption expenditures....................... 2.5 2.6 2.5 4.1 3.1 1.0 1.7 2.0 2.4 Previously published.............. 2.7 2.9 2.6 3.6 2.1 .7 1.7 2.1 2.5 ---------------------------------------------------------------------------------------------------------------------