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News Release: Personal Income and Outlays

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Table Headers and Stubs for the August 1, 2006 Personal Income and Outlays Annual Revision News Release


EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, JUNE 30, 2006

James E. Rankin:    (202)    606-5301  (Personal Income)BEA 06-31
Michael Armah:      (202)    606-5302  (Personal Outlays)


               PERSONAL INCOME AND OUTLAYS:  MAY 2006

 Personal income increased $38.3 billion, or 0.4 percent, and disposable personal income (DPI)
increased $31.6 billion, or 0.3 percent, in May, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $40.3 billion, or 0.4 percent.  In April, personal
income increased $76.2 billion, or 0.7 percent, DPI increased $52.4 billion, or 0.6 percent, and PCE
increased $65.3 billion, or 0.7 percent,  based on revised estimates.

                                        2006
                                        Jan.     Feb.    Mar.    Apr.   May
(Percent change from preceding month)
Personal income, current dollars         0.6     0.3     0.4     0.7    0.4
Disposable personal income:
Current dollars                          0.2     0.2     0.3     0.6    0.3
Chained (2000) dollars                  -0.3     0.2    -0.1     0.1    0.0
Personal consumption expenditures:
Current dollars                          0.8     0.2     0.5     0.7    0.4
Chained (2000) dollars                   0.3     0.2     0.1     0.2    0.1



 As part of the annual revision of the national income and product accounts, revised estimates of
personal income and outlays covering January 2003 through May 2006 will be released along with
preliminary estimates for June 2006 on August 1, 2006.  An article describing the revision will appear
in the August 2006 issue of the Survey of Current Business.

                         Wages and salaries

 Private wage and salary disbursements increased $0.2 billion in May, compared with an
increase of $48.0 billion in April.  Goods-producing industries' payrolls increased $2.3 billion,
compared with an increase of $8.3 billion; manufacturing payrolls decreased $0.5 billion, in contrast
to an increase of $5.2 billion.  Services-producing industries' payrolls decreased $2.0 billion,
compared with an increase of $39.7 billion.  Government wage and salary disbursements increased
$1.5 billion, compared with an increase of $1.4 billion.

                         Other personal income

 Supplements to wages and salaries increased $3.2 billion in May, compared with an increase of
$8.9 billion in April.

 Proprietors' income increased $6.4 billion in May, compared with an increase of $0.2 billion in
April.  Farm proprietors' income decreased $2.9 billion, compared with a decrease of $2.3 billion.
Nonfarm proprietors' income increased $9.3 billion, compared with an increase of $2.5 billion.

 Rental income of persons decreased $4.3 billion in May, compared with a decrease of $4.0
billion in April.  Personal income receipts on assets (personal interest income plus personal dividend
income) increased $16.6 billion, compared with an increase of $16.3 billion.   Personal current
transfer receipts increased $14.6 billion, compared with an increase of $11.8 billion.

 Contributions for government social insurance -- a subtraction in calculating personal income --
was unchanged in May, following an increase of $6.5 billion in April.

             Personal current taxes and disposable personal income

 Personal current taxes increased $6.7 billion in May, compared with an increase of $23.8
billion in April.  Disposable personal income (DPI) -- personal income less personal current taxes --
increased $31.6 billion, or 0.3 percent, in May, compared with an increase of $52.4 billion, or 0.6
percent, in April.

                    Personal outlays and personal saving

 Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $41.1 billion in May, compared with an increase of $66.2 billion in April.  PCE increased
$40.3 billion, compared with an increase of $65.3 billion.

 Personal saving -- DPI less personal outlays -- was a negative $162.9 billion in May, compared
with a negative $153.5 billion in April.  Personal saving as a percentage of disposable personal
income was a negative 1.7 percent in May, compared with a negative 1.6 percent in April.  Negative
personal saving reflects personal outlays that exceed disposable personal income.  Saving from
current income may be near zero or negative when outlays are financed by borrowing (including
borrowing financed through credit cards or home equity loans), by selling investments or other
assets, or by using savings from previous periods.  For more information, see the FAQs on "Personal
Saving" on BEA's Web site.

                            Real DPI and real PCE

 Real DPI -- DPI adjusted to remove price changes -- decreased less than 0.1 percent in May,
following an increase of 0.1 percent in April.

 Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in May, compared
with an increase of 0.2 percent in April.  Purchases of durable goods decreased 0.6 percent, in
contrast to an increase of 0.3 percent.  Purchases of motor vehicles and parts more than accounted
for the May decrease.  Purchases of nondurable goods decreased 0.1 percent in May, in contrast to
an increase of 0.4 percent in April.  Purchases of services increased 0.3 percent, compared with an
increase of 0.1 percent.

 PCE price index -- The PCE price index increased 0.4 percent in May, compared with an
increase of 0.5 percent in April.  The PCE price index, excluding food and energy, increased 0.2
percent, the same increase as in April.

                                   Revisions

 Estimates have been revised for January through April.  Changes in personal income, current-
dollar and chained (2000) dollar DPI, and current-dollar and chained (2000) dollar PCE for March
and April -- revised and as published in last month's release -- are shown below.  Revisions for
January and February were small.


                            Change from preceding month

                                                        March                                    April
                                         Previous  Revised    Previous  Revised    Previous  Revised    Previous  Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
Current dollars......................     48.3      39.2        0.5       0.4       57.9       76.2        0.5       0.7
Disposable personal income:
Current dollars......................     37.2      29.4        0.4       0.3       36.6       52.4        0.4       0.6
Chained (2000) dollars.........            1.9      -4.5        0.0      -0.1       -7.1        6.7       -0.1       0.1
Personal consumption expenditures:
Current dollars......................     46.4      44.4        0.5       0.5       55.0       65.3        0.6       0.7
Chained (2000) dollars.........           10.7       9.3        0.1       0.1       10.0       18.9        0.1       0.2


 BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov.  By
visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and
announcements.

                        *          *          *


 Next release -- Personal Income and Outlays for June will be released on
August 1, 2006, at 8:30 A.M. EDT.


                                      Table 1.--Personal Income and Its Disposition (Months)
                                 [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................   10,409.0   10,431.2   10,483.1   10,546.2   10,579.7   10,618.9   10,695.1   10,733.4

  Compensation of employees, received......    7,205.6    7,202.2    7,231.0    7,286.7    7,324.1    7,354.5    7,412.8    7,417.8

    Wage and salary disbursements..........    5,779.4    5,774.6    5,799.7    5,838.5    5,867.3    5,889.6    5,939.0    5,940.8
      Private industries...................    4,799.5    4,791.9    4,815.5    4,850.1    4,875.7    4,896.3    4,944.3    4,944.5
        Goods-producing industries.........    1,134.9    1,130.5    1,133.8    1,138.3    1,142.3    1,144.5    1,152.8    1,155.1
          Manufacturing....................      729.0      721.7      722.7      724.0      726.4      727.5      732.7      732.2
        Services-producing industries......    3,664.6    3,661.4    3,681.7    3,711.8    3,733.5    3,751.8    3,791.5    3,789.5
          Trade, transportation, and
           utilities.......................      961.4      963.5      966.4      971.4      974.7      977.9      987.2      982.8
          Other services-producing
           industries......................    2,703.2    2,698.0    2,715.3    2,740.4    2,758.8    2,773.9    2,804.2    2,806.7
      Government...........................      980.0      982.6      984.2      988.4      991.6      993.3      994.7      996.2

    Supplements to wages and salaries......    1,426.1    1,427.6    1,431.3    1,448.2    1,456.7    1,464.9    1,473.8    1,477.0
      Employer contributions for employee
       pension and insurance funds.........      996.8      998.9    1,001.2    1,010.7    1,017.7    1,024.6    1,030.5    1,033.9
      Employer contributions for government
       social insurance....................      429.4      428.7      430.1      437.5      439.1      440.3      443.3      443.1

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................      961.3      967.9      974.0      976.4      974.6      980.2      980.4      986.8
    Farm...................................       19.1       21.0       22.9       17.5       15.1       12.8       10.5        7.6
    Nonfarm................................      942.2      946.9      951.1      958.9      959.5      967.4      969.9      979.2

  Rental income of persons with capital
   consumption adjustment..................       79.3       82.7       78.9       72.2       69.7       66.0       62.0       57.7

  Personal income receipts on assets.......    1,494.9    1,512.9    1,531.0    1,531.6    1,531.6    1,532.2    1,548.5    1,565.1
    Personal interest income...............      967.2      980.1      992.9      989.3      985.6      981.9      993.7    1,005.5
    Personal dividend income...............      527.7      532.9      538.0      542.3      546.1      550.3      554.7      559.6

  Personal current transfer receipts.......    1,545.0    1,541.6    1,547.4    1,576.3    1,581.0    1,589.9    1,601.7    1,616.3
    Government social benefits to persons..    1,504.6    1,512.1    1,517.9    1,547.0    1,551.7    1,560.5    1,572.3    1,586.9
      Old-age, survivors, disability, and
       health insurance benefits...........      854.8      855.3      865.5      908.3      920.0      929.5      934.8      944.2
      Government unemployment insurance
       benefits............................       30.7       29.6       28.7       27.3       26.1       26.1       25.8       25.8
      Other................................      619.1      627.2      623.6      611.3      605.6      604.9      611.7      617.0
    Other current transfer receipts, from
     business (net)........................       40.4       29.5       29.5       29.3       29.3       29.4       29.4       29.4

  Less: Contributions for government social
   insurance...............................      877.1      876.1      879.1      897.0      901.3      903.9      910.4      910.4


Less: Personal current taxes...............    1,229.5    1,231.4    1,238.4    1,282.3    1,293.1    1,302.9    1,326.7    1,333.4

Equals: Disposable personal income.........    9,179.5    9,199.8    9,244.7    9,263.9    9,286.6    9,316.0    9,368.4    9,400.0

Less: Personal outlays.....................    9,209.3    9,251.5    9,314.8    9,386.1    9,409.0    9,455.7    9,521.9    9,563.0

  Personal consumption expenditures........    8,877.3    8,919.1    8,982.1    9,053.3    9,073.7    9,118.0    9,183.3    9,223.6
    Durable goods..........................      965.3    1,000.7    1,040.4    1,059.2    1,040.0    1,043.6    1,046.7    1,040.6
    Nondurable goods.......................    2,658.7    2,632.7    2,636.0    2,687.8    2,680.6    2,694.6    2,735.6    2,753.4
    Services...............................    5,253.4    5,285.7    5,305.8    5,306.4    5,353.1    5,379.8    5,401.0    5,429.6
  Personal interest payments\1\............      210.5      210.2      210.0      211.9      213.7      215.6      215.8      216.1
  Personal current transfer payments.......      121.5      122.1      122.7      120.9      121.5      122.1      122.8      123.4
    To government..........................       76.7       77.4       78.0       78.6       79.3       79.9       80.5       81.1
    To the rest of the world (net).........       44.8       44.8       44.8       42.3       42.3       42.3       42.3       42.3

Equals: Personal saving....................      -29.8      -51.7      -70.1     -122.2     -122.4     -139.7     -153.5     -162.9

  Personal saving as a percentage of
   disposable personal income..............        -.3        -.6        -.8       -1.3       -1.3       -1.5       -1.6       -1.7

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................    8,126.6    8,179.8    8,220.3    8,196.8    8,213.9    8,209.4    8,216.1    8,213.6
    Per capita:
      Current dollars......................     30,852     30,897     31,027     31,072     31,128     31,205     31,358     31,441
      Chained (2000) dollars...............     27,313     27,471     27,589     27,493     27,532     27,499     27,501     27,473
  Population (midperiod, thousands)\3\.....    297,534    297,756    297,954    298,144    298,337    298,539    298,753    298,972
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
   personal consumption expenditures.
3. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population.  The monthly estimate
   is the average of estimates for the first of the month and the first of the
   following month; the annual and quarterly estimates are averages of the
   monthly estimates.

                                Table 2.--Personal Income and Its Disposition (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      IV 04       I 05      II 05     III 05      IV 05    I 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................    9,713.3   10,237.7   10,024.8   10,073.4   10,185.7   10,250.4   10,441.1   10,581.6

  Compensation of employees, received......    6,687.6    7,113.1    6,895.8    7,001.7    7,060.2    7,177.6    7,212.9    7,321.8

    Wage and salary disbursements..........    5,389.4    5,712.3    5,562.9    5,629.9    5,672.3    5,762.3    5,784.6    5,865.1
      Private industries...................    4,450.0    4,740.7    4,612.9    4,668.1    4,705.0    4,787.3    4,802.3    4,874.0
        Goods-producing industries.........    1,049.9    1,117.4    1,083.0    1,099.2    1,107.2    1,130.0    1,133.0    1,141.7
          Manufacturing....................      687.7      720.0      707.8      715.3      715.5      724.7      724.5      726.0
        Services-producing industries......    3,400.1    3,623.3    3,529.9    3,568.8    3,597.9    3,657.4    3,669.3    3,732.4
          Trade, transportation, and
           utilities.......................      899.7      953.9      931.1      937.8      951.1      962.8      963.8      974.7
          Other services-producing
           industries......................    2,500.4    2,669.5    2,598.8    2,631.0    2,646.8    2,694.5    2,705.5    2,757.7
      Government...........................      939.5      971.6      950.0      961.8      967.3      975.0      982.3      991.1

    Supplements to wages and salaries......    1,298.1    1,400.8    1,332.9    1,371.8    1,387.9    1,415.3    1,428.3    1,456.6
      Employer contributions for employee
       pension and insurance funds.........      895.5      975.0      919.6      950.0      964.4      986.8      998.9    1,017.7
      Employer contributions for government
       social insurance....................      402.7      425.8      413.4      421.9      423.5      428.5      429.4      439.0

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................      889.6      938.7      900.9      917.9      936.6      932.4      967.7      977.1
    Farm...................................       35.8       20.8       24.6       24.7       19.6       18.0       21.0       15.1
    Nonfarm................................      853.8      917.8      876.3      893.2      917.1      914.3      946.7      961.9

  Rental income of persons with capital
   consumption adjustment..................      134.2       72.9      128.7      118.0      104.4      -11.1       80.3       69.3

  Personal income receipts on assets.......    1,396.5    1,457.4    1,493.6    1,407.9    1,439.8    1,468.9    1,512.9    1,531.8
    Personal interest income...............      905.9      945.7      907.4      915.4      936.0      951.2      980.1      985.6
    Personal dividend income...............      490.6      511.7      586.2      492.5      503.8      517.6      532.9      546.2

  Personal current transfer receipts.......    1,427.5    1,525.3    1,449.2    1,488.8    1,509.6    1,558.1    1,544.7    1,582.4
    Government social benefits to persons..    1,394.5    1,483.7    1,419.5    1,459.7    1,480.4    1,483.2    1,511.5    1,553.1
      Old-age, survivors, disability, and
       health insurance benefits...........      789.3      844.7      805.5      828.0      842.2      850.1      858.6      919.2
      Government unemployment insurance
       benefits............................       36.0       28.9       32.4       29.4       28.0       28.5       29.7       26.5
      Other................................      569.2      610.1      581.5      602.2      610.2      604.6      623.3      607.3
    Other current transfer receipts, from
     business (net)........................       33.0       41.6       29.8       29.1       29.2       74.8       33.1       29.3

  Less: Contributions for government social
   insurance...............................      822.2      869.7      843.5      861.0      864.9      875.4      877.4      900.7

Less: Personal current taxes...............    1,049.1    1,207.7    1,094.3    1,171.4    1,206.0    1,220.4    1,233.1    1,292.8

Equals: Disposable personal income.........    8,664.2    9,029.9    8,930.4    8,902.0    8,979.7    9,030.0    9,208.0    9,288.8

Less: Personal outlays.....................    8,512.5    9,072.1    8,725.0    8,854.6    9,001.2    9,173.9    9,258.5    9,416.9

  Personal consumption expenditures........    8,214.3    8,745.7    8,416.1    8,535.8    8,677.0    8,844.0    8,926.2    9,081.7
    Durable goods..........................      987.8    1,026.5    1,008.6    1,017.3    1,035.5    1,050.9    1,002.1    1,047.6
    Nondurable goods.......................    2,368.3    2,564.4    2,437.1    2,476.6    2,533.7    2,604.9    2,642.5    2,687.7
    Services...............................    4,858.2    5,154.9    4,970.4    5,041.8    5,107.8    5,188.3    5,281.6    5,346.4
  Personal interest payments\1\............      186.7      205.9      196.2      198.1      205.3      210.1      210.2      213.7
  Personal current transfer payments.......      111.5      120.4      112.7      120.8      118.8      119.9      122.1      121.5
    To government..........................       68.6       74.8       71.0       72.5       73.9       75.4       77.3       79.2
    To the rest of the world (net).........       42.9       45.6       41.7       48.3       44.9       44.4       44.8       42.3

Equals: Personal saving....................      151.8      -42.1      205.4       47.4      -21.5     -143.9      -50.5     -128.1

  Personal saving as a percentage of
   disposable personal income..............        1.8        -.5        2.3         .5        -.2       -1.6        -.5       -1.4

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................    8,004.3    8,112.2    8,169.2    8,098.1    8,102.6    8,074.2    8,175.6    8,206.7
    Per capita:
      Current dollars......................     29,477     30,437     30,269     30,111     30,307     30,401     30,926     31,135
      Chained (2000) dollars...............     27,232     27,344     27,689     27,391     27,347     27,183     27,458     27,508
  Population (midperiod, thousands)\3\.....    293,933    296,677    295,037    295,643    296,289    297,027    297,748    298,340
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
   personal consumption expenditures.
3. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population.  The monthly estimate
   is the average of estimates for the first of the month and the first of the
   following month; the annual and quarterly estimates are averages of the
   monthly estimates.

                       Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)
                                 [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................       19.9       22.2       51.9       63.1       33.5       39.2       76.2       38.3

  Compensation of employees, received......       -6.8       -3.4       28.8       55.7       37.4       30.4       58.3        5.0

    Wage and salary disbursements..........       -8.3       -4.8       25.1       38.8       28.8       22.3       49.4        1.8
      Private industries...................       -9.3       -7.6       23.6       34.6       25.6       20.6       48.0         .2
        Goods-producing industries.........         .4       -4.4        3.3        4.5        4.0        2.2        8.3        2.3
          Manufacturing....................        2.7       -7.3        1.0        1.3        2.4        1.1        5.2        -.5
        Services-producing industries......       -9.7       -3.2       20.3       30.1       21.7       18.3       39.7       -2.0
          Trade, transportation, and
           utilities.......................       -2.3        2.1        2.9        5.0        3.3        3.2        9.3       -4.4
          Other services-producing
           industries......................       -7.4       -5.2       17.3       25.1       18.4       15.1       30.3        2.5
      Government...........................        1.1        2.6        1.6        4.2        3.2        1.7        1.4        1.5

    Supplements to wages and salaries......        1.4        1.5        3.7       16.9        8.5        8.2        8.9        3.2
      Employer contributions for employee
       pension and insurance funds.........        2.0        2.1        2.3        9.5        7.0        6.9        5.9        3.4
      Employer contributions for government
       social insurance....................        -.4        -.7        1.4        7.4        1.6        1.2        3.0        -.2

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        2.9        6.6        6.1        2.4       -1.8        5.6         .2        6.4
    Farm...................................        1.4        1.9        1.9       -5.4       -2.4       -2.3       -2.3       -2.9
    Nonfarm................................        1.5        4.7        4.2        7.8         .6        7.9        2.5        9.3

  Rental income of persons with capital
   consumption adjustment..................       -4.3        3.4       -3.8       -6.7       -2.5       -3.7       -4.0       -4.3

  Personal income receipts on assets.......       18.0       18.0       18.1         .6         .0         .6       16.3       16.6
    Personal interest income...............       12.8       12.9       12.8       -3.6       -3.7       -3.7       11.8       11.8
    Personal dividend income...............        5.2        5.2        5.1        4.3        3.8        4.2        4.4        4.9

  Personal current transfer receipts.......        9.0       -3.4        5.8       28.9        4.7        8.9       11.8       14.6
    Government social benefits to persons..        6.1        7.5        5.8       29.1        4.7        8.8       11.8       14.6
      Old-age, survivors, disability, and
       health insurance benefits...........        2.9         .5       10.2       42.8       11.7        9.5        5.3        9.4
      Government unemployment insurance
       benefits............................         .7       -1.1        -.9       -1.4       -1.2         .0        -.3         .0
      Other................................        2.6        8.1       -3.6      -12.3       -5.7        -.7        6.8        5.3
    Other current transfer receipts, from
     business (net)........................        2.9      -10.9         .0        -.2         .0         .1         .0         .0

  Less: Contributions for government social
   insurance...............................       -1.0       -1.0        3.0       17.9        4.3        2.6        6.5         .0

Less: Personal current taxes...............        4.7        1.9        7.0       43.9       10.8        9.8       23.8        6.7

Equals: Disposable personal income.........       15.2       20.3       44.9       19.2       22.7       29.4       52.4       31.6

Less: Personal outlays.....................       23.4       42.2       63.3       71.3       22.9       46.7       66.2       41.1

  Personal consumption expenditures........       22.5       41.8       63.0       71.2       20.4       44.3       65.3       40.3
    Durable goods..........................      -25.6       35.4       39.7       18.8      -19.2        3.6        3.1       -6.1
    Nondurable goods.......................       14.6      -26.0        3.3       51.8       -7.2       14.0       41.0       17.8
    Services...............................       33.6       32.3       20.1         .6       46.7       26.7       21.2       28.6
  Personal interest payments\1\............        -.2        -.3        -.2        1.9        1.8        1.9         .2         .3
  Personal current transfer payments.......        1.1         .6         .6       -1.8         .6         .6         .7         .6
    To government..........................         .7         .7         .6         .6         .7         .6         .6         .6
    To the rest of the world (net).........         .4         .0         .0       -2.5         .0         .0         .0         .0

Equals: Personal saving....................       -8.1      -21.9      -18.4      -52.1        -.2      -17.3      -13.8       -9.4

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............       -4.8       53.2       40.5      -23.5       17.1       -4.5        6.7       -2.5
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
   for personal consumption expenditures.

                 Table 4.--Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      IV 04       I 05      II 05     III 05      IV 05    I 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................      544.2      524.4      295.6       48.6      112.3       64.7      190.7      140.5

  Compensation of employees, received......      366.5      425.5      171.6      105.9       58.5      117.4       35.3      108.9

    Wage and salary disbursements..........      278.3      322.9      140.9       67.0       42.4       90.0       22.3       80.5
      Private industries...................      242.2      290.7      133.7       55.2       36.9       82.3       15.0       71.7
        Goods-producing industries.........       42.7       67.5       20.7       16.2        8.0       22.8        3.0        8.7
          Manufacturing....................       19.0       32.3       11.7        7.5         .2        9.2        -.2        1.5
        Services-producing industries......      199.5      223.2      113.1       38.9       29.1       59.5       11.9       63.1
          Trade, transportation, and
           utilities.......................       41.1       54.2       24.8        6.7       13.3       11.7        1.0       10.9
          Other services-producing
           industries......................      158.4      169.1       88.3       32.2       15.8       47.7       11.0       52.2
      Government...........................       36.2       32.1        7.2       11.8        5.5        7.7        7.3        8.8

    Supplements to wages and salaries......       88.1      102.7       30.6       38.9       16.1       27.4       13.0       28.3
      Employer contributions for employee
       pension and insurance funds.........       65.5       79.5       21.7       30.4       14.4       22.4       12.1       18.8
      Employer contributions for government
       social insurance....................       22.7       23.1        9.0        8.5        1.6        5.0         .9        9.6

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................       79.4       49.1       11.8       17.0       18.7       -4.2       35.3        9.4
    Farm...................................        8.1      -15.0       -5.1         .1       -5.1       -1.6        3.0       -5.9
    Nonfarm................................       71.4       64.0       16.9       16.9       23.9       -2.8       32.4       15.2

  Rental income of persons with capital
   consumption adjustment..................        2.5      -61.3        6.6      -10.7      -13.6     -115.5       91.4      -11.0

  Personal income receipts on assets.......       57.8       60.9      115.4      -85.7       31.9       29.1       44.0       18.9
    Personal interest income...............      -11.7       39.8        2.7        8.0       20.6       15.2       28.9        5.5
    Personal dividend income...............       69.5       21.1      112.7      -93.7       11.3       13.8       15.3       13.3

  Personal current transfer receipts.......       83.5       97.8        7.7       39.6       20.8       48.5      -13.4       37.7
    Government social benefits to persons..       81.0       89.2       22.4       40.2       20.7        2.8       28.3       41.6
      Old-age, survivors, disability, and
       health insurance benefits...........       50.0       55.4       11.8       22.5       14.2        7.9        8.5       60.6
      Government unemployment insurance
       benefits............................      -16.8       -7.1        -.9       -3.0       -1.4         .5        1.2       -3.2
      Other................................       47.8       40.9       11.4       20.7        8.0       -5.6       18.7      -16.0
    Other current transfer receipts, from
     business (net)........................        2.5        8.6      -14.6        -.7         .1       45.6      -41.7       -3.8

  Less: Contributions for government social
   insurance...............................       45.6       47.5       17.6       17.5        3.9       10.5        2.0       23.3

Less: Personal current taxes...............       49.2      158.6       35.9       77.1       34.6       14.4       12.7       59.7

Equals: Disposable personal income.........      495.0      365.7      259.5      -28.4       77.7       50.3      178.0       80.8

Less: Personal outlays.....................      516.2      559.6      158.7      129.6      146.6      172.7       84.6      158.4

  Personal consumption expenditures........      504.4      531.4      152.9      119.7      141.2      167.0       82.2      155.5
    Durable goods..........................       37.7       38.7       14.8        8.7       18.2       15.4      -48.8       45.5
    Nondurable goods.......................      179.3      196.1       58.7       39.5       57.1       71.2       37.6       45.2
    Services...............................      287.4      296.7       79.4       71.4       66.0       80.5       93.3       64.8
  Personal interest payments\1\............        3.5       19.2        5.9        1.9        7.2        4.8         .1        3.5
  Personal current transfer payments.......        8.2        8.9        -.1        8.1       -2.0        1.1        2.2        -.6
    To government..........................        6.5        6.2        1.6        1.5        1.4        1.5        1.9        1.9
    To the rest of the world (net).........        1.7        2.7       -1.7        6.6       -3.4        -.5         .4       -2.5

Equals: Personal saving....................      -21.0     -193.9      100.8     -158.0      -68.9     -122.4       93.4      -77.6

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............      262.5      107.9      175.9      -71.1        4.5      -28.4      101.4       31.1
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
   for personal consumption expenditures.

                   Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)
                                           [Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................         .2         .2         .5         .6         .3         .4         .7         .4
  Compensation of employees, received......        -.1         .0         .4         .8         .5         .4         .8         .1
    Wage and salary disbursements..........        -.1        -.1         .4         .7         .5         .4         .8         .0
    Supplements to wages and salaries......         .1         .1         .3        1.2         .6         .6         .6         .2
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................         .3         .7         .6         .2        -.2         .6         .0         .7
  Rental income of persons with capital
   consumption adjustment..................       -5.1        4.3       -4.7       -8.5       -3.4       -5.3       -6.1       -6.9
  Personal income receipts on assets.......        1.2        1.2        1.2         .0         .0         .0        1.1        1.1
    Personal interest income...............        1.3        1.3        1.3        -.4        -.4        -.4        1.2        1.2
    Personal dividend income...............        1.0        1.0        1.0         .8         .7         .8         .8         .9
  Personal current transfer receipts.......         .6        -.2         .4        1.9         .3         .6         .7         .9

  Less: Contributions for government social
   insurance...............................        -.1        -.1         .3        2.0         .5         .3         .7         .0

Less: Personal current taxes...............         .4         .2         .6        3.5         .8         .8        1.8         .5

Equals: Disposable personal income.........         .2         .2         .5         .2         .2         .3         .6         .3

Addenda:
  Personal consumption expenditures........         .3         .5         .7         .8         .2         .5         .7         .4
    Durable goods..........................       -2.6        3.7        4.0        1.8       -1.8         .3         .3        -.6
    Nondurable goods.......................         .6       -1.0         .1        2.0        -.3         .5        1.5         .7
    Services...............................         .6         .6         .4         .0         .9         .5         .4         .5
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real disposable personal income..........        -.1         .7         .5        -.3         .2        -.1         .1         .0
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

             Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      IV 04       I 05      II 05     III 05      IV 05    I 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................        5.9        5.4       12.7        2.0        4.5        2.6        7.6        5.5
  Compensation of employees, received......        5.8        6.4       10.6        6.3        3.4        6.8        2.0        6.2
    Wage and salary disbursements..........        5.4        6.0       10.8        4.9        3.0        6.5        1.6        5.7
    Supplements to wages and salaries......        7.3        7.9        9.8       12.2        4.8        8.1        3.7        8.2
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        9.8        5.5        5.4        7.8        8.4       -1.8       16.0        3.9
  Rental income of persons with capital
   consumption adjustment..................        1.9      -45.7       23.6      -29.5      -38.6      .....      .....      -44.5
  Personal income receipts on assets.......        4.3        4.4       37.9      -21.0        9.4        8.3       12.6        5.1
    Personal interest income...............       -1.3        4.4        1.2        3.6        9.3        6.7       12.7        2.3
    Personal dividend income...............       16.5        4.3      134.9      -50.2        9.5       11.4       12.3       10.4
  Personal current transfer receipts.......        6.2        6.8        2.2       11.4        5.7       13.5       -3.4       10.1

  Less: Contributions for government social
   insurance...............................        5.9        5.8        8.8        8.5        1.8        4.9         .9       11.1

Less: Personal current taxes...............        4.9       15.1       14.3       31.3       12.4        4.8        4.2       20.8

Equals: Disposable personal income.........        6.1        4.2       12.5       -1.3        3.5        2.3        8.1        3.6

Addenda:
  Personal consumption expenditures........        6.5        6.5        7.6        5.8        6.8        7.9        3.8        7.2
    Durable goods..........................        4.0        3.9        6.1        3.5        7.3        6.1      -17.3       19.4
    Nondurable goods.......................        8.2        8.3       10.3        6.6        9.5       11.7        5.9        7.0
    Services...............................        6.3        6.1        6.7        5.9        5.3        6.5        7.4        5.0
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real disposable personal income..........        3.4        1.3        9.1       -3.4         .2       -1.4        5.1        1.5
-----------------------------------------------------------------------------------------------------------------------------------
r Revised

                        Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Billions of chained (2000) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    7,859.1    7,930.2    7,986.8    8,010.5    8,025.6    8,034.9    8,053.8    8,059.4
  Durable goods............................    1,074.9    1,116.4    1,161.9    1,182.0    1,162.1    1,167.8    1,171.1    1,164.5
  Nondurable goods.........................    2,316.7    2,338.8    2,347.2    2,370.7    2,368.6    2,364.0    2,373.3    2,371.9
  Services.................................    4,468.7    4,483.8    4,495.1    4,480.2    4,511.6    4,520.6    4,527.4    4,539.0
                                           ----------------------------------------------------------------------------------------
                                                     Change from preceding period in billions of chained (2000) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........        2.2       71.1       56.6       23.7       15.1        9.3       18.9        5.6
  Durable goods............................      -28.7       41.5       45.5       20.1      -19.9        5.7        3.3       -6.6
  Nondurable goods.........................       20.0       22.1        8.4       23.5       -2.1       -4.6        9.3       -1.4
  Services.................................        4.2       15.1       11.3      -14.9       31.4        9.0        6.8       11.6
                                           ----------------------------------------------------------------------------------------
                                                       Percent change from preceding period in chained (2000) dollars,
                                                                     seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........         .0         .9         .7         .3         .2         .1         .2         .1
  Durable goods............................       -2.6        3.9        4.1        1.7       -1.7         .5         .3        -.6
  Nondurable goods.........................         .9        1.0         .4        1.0        -.1        -.2         .4        -.1
  Services.................................         .1         .3         .3        -.3         .7         .2         .1         .3
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

                  Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      IV 04       I 05      II 05     III 05      IV 05    I 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                      Billions of chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    7,588.6    7,856.9    7,698.8    7,764.9    7,829.5    7,907.9    7,925.4    8,023.6
  Durable goods............................    1,089.9    1,138.4    1,115.1    1,122.3    1,143.9    1,169.7    1,117.7    1,170.6
  Nondurable goods.........................    2,200.4    2,297.9    2,236.5    2,265.6    2,285.9    2,305.8    2,334.2    2,367.8
  Services.................................    4,310.9    4,436.4    4,362.1    4,392.0    4,417.6    4,453.5    4,482.6    4,504.2
                                           ----------------------------------------------------------------------------------------
                                                                       Change from preceding period in
                                                                      billions of chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........      282.0      268.3       81.3       66.1       64.6       78.4       17.5       98.2
  Durable goods............................       61.4       48.5       14.7        7.2       21.6       25.8      -52.0       52.9
  Nondurable goods.........................       98.6       97.5       29.6       29.1       20.3       19.9       28.4       33.6
  Services.................................      127.0      125.5       38.1       29.9       25.6       35.9       29.1       21.6
                                           ----------------------------------------------------------------------------------------
                                                                     Percent change from preceding period
                                                                          in chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........        3.9        3.5        4.3        3.5        3.4        4.1         .9        5.1
  Durable goods............................        6.0        4.5        5.5        2.6        7.9        9.3      -16.6       20.3
  Nondurable goods.........................        4.7        4.4        5.5        5.3        3.6        3.5        5.0        5.9
  Services.................................        3.0        2.9        3.6        2.8        2.3        3.3        2.6        1.9
-----------------------------------------------------------------------------------------------------------------------------------
r Revised

      Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Chain-type price indexes (2000=100),
                                                                             seasonally adjusted
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....    112.964    112.477    112.470    113.026    113.069    113.489    114.033    114.453
  Durable goods............................     89.804     89.637     89.537     89.609     89.496     89.364     89.386     89.360
  Nondurable goods.........................    114.769    112.574    112.310    113.384    113.184    113.997    115.279    116.098
  Services.................................    117.568    117.892    118.042    118.449    118.659    119.015    119.306    119.630
Addenda:
  PCE excluding food and energy............    109.936    110.101    110.249    110.446    110.574    110.938    111.215    111.457
  Market-based PCE\1\......................    112.034    111.430    111.394    111.959    111.958    112.381    112.933    113.386
  Market-based PCE excluding food
   and energy\1\...........................    108.156    108.304    108.447    108.583    108.672    109.028    109.261    109.510
                                           ----------------------------------------------------------------------------------------
                                                            Percent change from preceding period in price indexes,
                                                                     seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
PCE........................................         .2        -.4         .0         .5         .0         .4         .5         .4
  Durable goods............................         .0        -.2        -.1         .1        -.1        -.1         .0         .0
  Nondurable goods.........................        -.3       -1.9        -.2        1.0        -.2         .7        1.1         .7
  Services.................................         .5         .3         .1         .3         .2         .3         .2         .3
Addenda:
  PCE excluding food and energy............         .3         .2         .1         .2         .1         .3         .2         .2
  Market-based PCE\1\......................         .2        -.5         .0         .5         .0         .4         .5         .4
  Market-based PCE excluding food
   and energy\1\...........................         .2         .1         .1         .1         .1         .3         .2         .2
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. This index is a supplemental measure that is based on household
   expenditures for which there are observable price measures.  It
   excludes most implicit prices (for example, the services furnished
   without payment by financial intermediaries) and the expenses of
   nonprofit institutions.

   Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................        1.0        1.3       -2.1        1.4        1.4        1.3        1.7        1.4

Personal consumption expenditures..........        2.5        3.2        3.2        3.5        3.2        3.3        3.2        3.3
  Durable goods............................       -2.3         .9        2.1        6.9        3.5        2.6        1.3        4.7
  Nondurable goods.........................        3.6        4.8        4.8        4.7        4.1        4.8        4.4        4.0
  Services.................................        2.8        2.8        2.7        2.2        2.8        2.7        3.0        2.7
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

              Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 05     Nov 05     Dec 05  Jan 06\r\  Feb 06\r\  Mar 06\r\  Apr 06\r\  May 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....        3.5        2.8        2.8        3.1        2.9        2.9        2.9        3.3
  Durable goods............................        -.7        -.9       -1.1       -1.2       -1.2       -1.3       -1.2       -1.5
  Nondurable goods.........................        5.2        3.1        3.3        4.3        3.7        3.4        3.6        4.8
  Services.................................        3.5        3.4        3.3        3.4        3.3        3.4        3.4        3.4
Addenda:
  PCE excluding food and energy............        2.0        1.9        2.0        1.9        1.8        2.0        2.1        2.1
  Market-based PCE\1\......................        3.5        2.7        2.7        3.1        2.8        2.8        2.8        3.2
  Market-based PCE excluding food
   and energy\1\...........................        1.7        1.6        1.7        1.5        1.5        1.6        1.8        1.8
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. This index is a supplemental measure that is based on household
   expenditures for which there are observable price measures.  It
   excludes most implicit prices (for example, the services furnished
   without payment by financial intermediaries) and the expenses of
   nonprofit institutions.