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News Release: Personal Income and Outlays

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FOR WIRE TRANSMISSION:  8:30 A.M. EDT, TUESDAY, AUGUST 1, 2006
James E. Rankin:       (202) 606-5301  (Personal Income)      BEA 06-34
Michael Armah:         (202) 606-5302  (Personal Outlays)
Kurt Kunze:            (202) 606-9748  (Annual Revision)

               PERSONAL INCOME AND OUTLAYS:  JUNE 2006
               REVISED ESTIMATES:  2003 THROUGH MAY 2006

 Personal income increased $66.5 billion, or 0.6 percent, and disposable personal income (DPI)
increased $53.2 billion, or 0.6 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $35.4 billion, or 0.4 percent.  In May, personal
income increased $41.7 billion, or 0.4 percent, DPI increased $34.6 billion, or 0.4 percent, and PCE
increased $51.4 billion, or 0.6 percent, based on revised estimates.

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


 The estimates released today reflect the annual revision to the national income and product
accounts, beginning with January 2003.  Annual revisions, which are usually made each July,
incorporate source data that are more complete, more detailed, and otherwise more reliable than
previously available.  This release includes revised estimates of monthly personal income, disposable
personal income, and outlays and provides an overview of the effects of the revision.

 The August 2006 Survey of Current Business will contain national income and product accounts
tables and an article describing the revisions.  The revised estimates will be available from BEA's
Web site at www.bea.gov.

                         Wages and salaries

 Private wage and salary disbursements increased $34.6 billion in June, in contrast to a decrease
of $2.3 billion in May.  Goods-producing industries' payrolls increased $6.6 billion, compared with
an increase of $2.9 billion; manufacturing payrolls increased $2.2 billion, following no change.
Services-producing industries' payrolls increased $28.1 billion, in contrast to a decrease of $5.2
billion.  Government wage and salary disbursements increased $3.7 billion, compared with an
increase of $2.6 billion.

                         Other personal income

 Supplements to wages and salaries increased $6.9 billion in June, compared with an increase of
$4.1 billion in May.

 Proprietors' income increased $0.6 billion in June, compared with an increase of $7.5 billion in
May.  Farm proprietors' income decreased $0.5 billion, compared with a decrease of $2.3 billion.
Nonfarm proprietors' income increased $1.1 billion, compared with an increase of $9.8 billion.

 Rental income of persons decreased $5.1 billion in June, compared with a decrease of $4.1
billion in May.  Personal income receipts on assets (personal interest income plus personal dividend
income) increased $24.0 billion, compared with an increase of $23.1 billion.  Personal current
transfer receipts increased $7.0 billion, compared with an increase of $11.0 billion.

 Contributions for government social insurance -- a subtraction in calculating personal income --
increased $5.1 billion in June, compared with an increase of $0.2 billion in May.

                         Personal current taxes and disposable personal income

 Personal current taxes increased $13.3 billion in June, compared with an increase $7.1 billion
in May.  Disposable personal income (DPI) -- personal income less personal current taxes --
increased $53.2 billion, or 0.6 percent, in June, compared with an increase of $34.6 billion, or 0.4
percent, in May.

                         Personal outlays and personal saving

 Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $39.6 billion in June, compared with an increase of $55.6 billion in May.  PCE increased
$35.4 billion, compared with an increase of $51.4 billion.

 Personal saving -- DPI less personal outlays -- was a negative $138.9 billion in June, compared
with a negative $152.5 billion in May.  Personal saving as a percentage of disposable personal
income was a negative 1.5 percent in June, compared with a negative 1.6 percent in May.  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.  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, go to
http://www.bea.gov/bea/dn/nipaweb/Nipa-Frb.asp.

                         Real DPI and real PCE

 Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in June, compared
with a decrease of less than 0.1 percent in May.

 Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in June, the same
increase as in May.  Purchases of durable goods increased 0.5 percent in June, in contrast to a
decrease of 0.6 percent in May.  Purchases of nondurable goods increased 0.3 percent, compared
with an increase of 0.2 percent.  Purchases of services increased 0.1 percent, compared with a
increase of 0.4 percent.

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

                         Revision of the Personal Income and Outlays Estimates

 Personal income, personal outlays, DPI, and personal saving are revised, beginning with
January 2003 to reflect the results of the annual revision in the national income and product accounts
(NIPAs) released last week.  The NIPAs usually are revised each July to incorporate newly available
and more comprehensive source data, as well as improved estimating methodologies.

 The revised annual revisions to the estimates of personal income and outlays, for 2003-2005,
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, 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 $5.5 billion, or 0.1 percent, for 2003; was revised up
$18.1 billion, or 0.2 percent, for 2004; and was revised up $1.5 billion, or less than 0.1 percent, for
2005.  For 2003, a downward revision to compensation of employees was partly offset by an upward
revision to personal current transfer receipts.  For 2004, upward revisions to personal dividend
income and to nonfarm proprietors' income were partly offset by downward revisions to
compensation of employees and to personal interest income.  For 2005, upward revisions to personal
dividend income and to both farm and nonfarm proprietors' income were largely offset by a
downward revision to compensation of employees

 Personal current taxes was revised up $1.2 billion for 2003, was revised up $0.7 billion for
2004, and was revised down $4.6 billion for 2005.  DPI was revised down $6.7 billion, or 0.1
percent, for 2003; was revised up $17.4 billion, or 0.2 percent, for 2004; and was revised up $6.2
billion, or 0.1 percent, for 2005.  The revisions were roughly similar to those to personal income,
reflecting the relatively small revisions to personal current taxes.  The percent change from the
preceding year in real DPI was revised down from 2.4 percent to 2.2 percent for 2003, was revised
up from 3.4 percent to 3.6 percent for 2004, and was revised down from 1.3 percent to 1.2 percent
for 2005.

 Personal outlays was revised down for all 3 years:  $8.6 billion for 2003, $5.3 billion for
2004, and $1.2 billion for 2005.  Revisions to PCE accounted for most of the revisions for all 3
years.  The personal saving rate was unrevised at 2.1 percent for 2003, was revised up from 1.8
percent to 2.0 percent for 2004, and was revised up from a negative 0.5 percent to a negative 0.4
percent for 2005.

 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 July will be released on
August 31, 2006, at 8:30 A.M. EDT.


                                            Table 1.--Personal Income and Its Disposition (Months)
                                      [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------------------------
                                              Dec 02   Jan 03   Feb 03   Mar 03   Apr 03   May 03   Jun 03   Jul 03   Aug 03   Sep 03   Oct 03
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................  8,945.3  8,968.1  8,995.2  9,031.3  9,058.5  9,117.8  9,157.6  9,175.1  9,200.6  9,235.2  9,281.5

  Compensation of employees, received......  6,143.3  6,163.9  6,192.7  6,216.5  6,237.9  6,281.3  6,306.9  6,316.1  6,342.2  6,364.2  6,407.4

    Wage and salary disbursements..........  4,988.8  5,001.2  5,022.4  5,039.4  5,055.0  5,090.2  5,110.0  5,115.0  5,135.6  5,152.2  5,188.5
      Private industries...................  4,111.4  4,111.4  4,127.9  4,142.2  4,155.3  4,186.7  4,199.8  4,207.7  4,228.2  4,245.7  4,278.4
        Goods-producing industries.........  1,001.2    999.6    999.9  1,000.1    996.8  1,002.1  1,003.4    995.5  1,000.9  1,008.7  1,023.1
          Manufacturing....................    667.6    665.2    666.7    665.7    661.6    665.8    666.2    659.2    662.2    667.2    677.7
        Services-producing industries......  3,110.1  3,111.8  3,128.0  3,142.1  3,158.4  3,184.6  3,196.4  3,212.3  3,227.3  3,237.0  3,255.3
          Trade, transportation, and
           utilities.......................    842.9    845.7    850.1    852.7    851.0    854.0    854.6    855.1    859.8    861.9    871.6
          Other services-producing
           industries......................  2,267.2  2,266.0  2,277.9  2,289.4  2,307.4  2,330.6  2,341.8  2,357.1  2,367.5  2,375.0  2,383.7
      Government...........................    877.4    889.8    894.5    897.2    899.7    903.5    910.2    907.2    907.5    906.5    910.1

    Supplements to wages and salaries......  1,154.5  1,162.7  1,170.3  1,177.1  1,183.0  1,191.0  1,196.9  1,201.1  1,206.5  1,212.0  1,218.9
      Employer contributions for employee
       pension and insurance funds.........    788.3    789.7    795.4    800.2    804.9    810.6    814.7    818.5    822.5    826.5    831.1
      Employer contributions for government
       social insurance....................    366.3    373.0    375.0    376.8    378.1    380.5    382.2    382.6    384.0    385.5    387.8

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    779.6    779.1    776.3    782.0    788.2    804.1    812.5    817.5    821.6    831.4    832.2
    Farm...................................     19.9     19.8     21.6     23.9     28.6     30.7     32.0     31.7     32.1     32.4     31.6
    Nonfarm................................    759.7    759.3    754.8    758.1    759.6    773.4    780.5    785.8    789.5    799.0    800.6

  Rental income of persons with capital
   consumption adjustment..................    128.7    137.0    138.0    137.3    133.8    130.7    126.9    120.3    113.7    115.1    134.0

  Personal income receipts on assets.......  1,330.0  1,327.7  1,329.0  1,330.5  1,331.7  1,334.9  1,338.1  1,341.4  1,340.1  1,337.0  1,336.3
    Personal interest income...............    918.7    918.7    919.8    920.6    918.8    919.7    920.3    920.5    915.5    907.9    903.2
    Personal dividend income...............    411.4    409.0    409.2    409.9    412.9    415.2    417.8    420.9    424.7    429.1    433.1

  Personal current transfer receipts.......  1,315.4  1,322.5  1,324.7  1,333.6  1,337.7  1,342.4  1,351.8  1,359.2  1,365.0  1,372.3  1,360.9
    Government social benefits to persons..  1,283.3  1,285.9  1,288.3  1,297.4  1,301.7  1,306.6  1,316.6  1,324.6  1,331.0  1,339.2  1,328.4
      Old-age, survivors, disability, and
       health insurance benefits...........    722.7    726.5    728.3    731.4    734.0    740.0    740.1    741.1    746.0    747.2    749.0
      Government unemployment insurance
       benefits............................     54.3     49.4     49.6     53.8     54.7     51.7     57.3     54.4     52.9     55.7     51.4
      Other................................    506.3    510.0    510.4    512.2    513.0    514.9    519.2    529.1    532.2    536.3    528.0
    Other current transfer receipts, from
     business (net)........................     32.1     36.7     36.4     36.2     36.0     35.7     35.2     34.6     34.0     33.1     32.5

  Less: Contributions for government social
   insurance...............................    751.7    762.1    765.5    768.6    770.9    775.6    778.6    779.4    782.1    784.8    789.3

Less: Personal current taxes...............  1,041.6  1,022.4  1,022.8  1,023.0  1,016.8  1,023.5  1,030.7    934.7    889.5  1,003.6  1,010.3

Equals: Disposable personal income.........  7,903.7  7,945.8  7,972.4  8,008.3  8,041.7  8,094.3  8,126.9  8,240.4  8,311.0  8,231.6  8,271.2

Less: Personal outlays.....................  7,786.0  7,800.3  7,810.4  7,868.5  7,880.3  7,904.9  7,956.0  8,007.3  8,105.5  8,088.3  8,100.2

  Personal consumption expenditures........  7,501.3  7,522.1  7,532.8  7,589.5  7,597.2  7,619.2  7,668.8  7,723.3  7,820.9  7,803.7  7,812.3
    Durable goods..........................    946.9    924.9    897.5    912.0    933.3    935.7    943.0    954.1    984.3    954.9    950.1
    Nondurable goods.......................  2,116.9  2,135.2  2,156.9  2,184.9  2,154.7  2,139.7  2,171.9  2,188.0  2,230.2  2,232.3  2,220.7
    Services...............................  4,437.5  4,462.0  4,478.3  4,492.7  4,509.1  4,543.9  4,553.9  4,581.2  4,606.4  4,616.5  4,641.5
  Personal interest payments\1\............    183.9    179.4    178.5    179.4    182.6    184.7    185.9    184.7    184.8    184.4    182.2
  Personal current transfer payments.......    100.8     98.8     99.1     99.5    100.5    100.9    101.3     99.4     99.8    100.3    105.8
    To government..........................     59.7     59.2     59.5     59.9     60.2     60.6     61.0     61.4     61.8     62.3     62.7
    To the rest of the world (net).........     41.1     39.6     39.6     39.6     40.3     40.3     40.3     38.0     38.0     38.0     43.1

Equals: Personal saving....................    117.8    145.5    162.0    139.8    161.4    189.4    170.9    233.1    205.5    143.3    171.0

  Personal saving as a percentage of
   disposable personal income..............      1.5      1.8      2.0      1.7      2.0      2.3      2.1      2.8      2.5      1.7      2.1

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  7,574.0  7,597.3  7,586.8  7,591.1  7,640.4  7,697.0  7,719.6  7,809.2  7,850.9  7,754.6  7,790.3
    Per capita:
      Current dollars......................   27,292   27,417   27,489   27,592   27,685   27,843   27,931   28,296   28,513   28,215   28,326
      Chained (2000) dollars...............   26,154   26,214   26,160   26,155   26,304   26,476   26,531   26,815   26,934   26,580   26,679
  Population (midperiod, thousands)\3\.....  289,599  289,813  290,022  290,241  290,472  290,714  290,965  291,222  291,485  291,749  292,005
----------------------------------------------------------------------------------------------------------------------------------------------
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 1.--Personal Income and Its Disposition (Months)--Continued
                                      [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------------------------
                                              Nov 03   Dec 03   Jan 04   Feb 04   Mar 04   Apr 04   May 04   Jun 04   Jul 04   Aug 04   Sep 04
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................  9,353.5  9,389.0  9,448.6  9,500.2  9,544.2  9,591.8  9,654.3  9,675.5  9,730.4  9,779.7  9,793.7

  Compensation of employees, received......  6,450.5  6,444.9  6,497.3  6,527.7  6,551.4  6,582.3  6,625.3  6,627.5  6,684.2  6,713.3  6,746.4

    Wage and salary disbursements..........  5,225.6  5,217.2  5,256.8  5,282.0  5,301.0  5,326.1  5,362.3  5,360.4  5,409.4  5,431.8  5,458.2
      Private industries...................  4,313.6  4,302.5  4,330.9  4,352.9  4,366.6  4,383.9  4,423.3  4,420.0  4,467.4  4,486.8  4,510.9
        Goods-producing industries.........  1,034.5  1,029.8  1,024.8  1,025.3  1,027.7  1,034.3  1,048.4  1,046.9  1,057.0  1,063.9  1,067.7
          Manufacturing....................    686.8    682.1    674.6    673.8    672.4    675.9    687.3    685.7    693.2    698.1    700.0
        Services-producing industries......  3,279.1  3,272.7  3,306.1  3,327.6  3,338.9  3,349.6  3,374.9  3,373.1  3,410.3  3,422.8  3,443.2
          Trade, transportation, and
           utilities.......................    874.6    868.5    874.2    878.6    882.7    890.8    896.3    895.6    904.4    906.3    912.7
          Other services-producing
           industries......................  2,404.4  2,404.3  2,431.9  2,449.0  2,456.2  2,458.8  2,478.6  2,477.5  2,506.0  2,516.5  2,530.4
      Government...........................    912.0    914.7    925.9    929.1    934.4    942.2    939.0    940.4    942.1    945.0    947.3

    Supplements to wages and salaries......  1,225.0  1,227.7  1,240.5  1,245.7  1,250.4  1,256.2  1,262.9  1,267.1  1,274.8  1,281.5  1,288.3
      Employer contributions for employee
       pension and insurance funds.........    834.7    838.3    842.5    846.0    849.7    854.2    858.1    862.4    866.8    871.7    876.7
      Employer contributions for government
       social insurance....................    390.3    389.4    398.0    399.7    400.7    402.0    404.9    404.6    408.0    409.8    411.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    839.2    850.9    865.7    875.0    891.8    901.0    911.4    918.1    918.1    916.4    910.8
    Farm...................................     32.3     33.6     36.8     38.2     39.2     40.0     39.8     38.9     35.2     32.6     30.9
    Nonfarm................................    806.9    817.2    828.9    836.8    852.6    861.0    871.7    879.2    882.9    883.8    879.8

  Rental income of persons with capital
   consumption adjustment..................    151.1    157.8    142.8    140.1    137.4    134.3    131.9    129.8    128.9    122.7     86.5

  Personal income receipts on assets.......  1,342.2  1,350.6  1,360.8  1,366.1  1,371.4  1,379.8  1,389.7  1,400.1  1,409.2  1,416.0  1,422.0
    Personal interest income...............    902.2    901.8    898.0    892.6    887.8    888.1    888.9    890.1    890.5    889.3    887.4
    Personal dividend income...............    440.0    448.8    462.9    473.5    483.7    491.7    500.8    509.9    518.7    526.7    534.5

  Personal current transfer receipts.......  1,364.5  1,377.2  1,389.9  1,402.5  1,405.5  1,410.7  1,417.7  1,421.6  1,418.3  1,443.2  1,463.5
    Government social benefits to persons..  1,333.1  1,347.6  1,362.8  1,377.2  1,381.1  1,386.5  1,394.1  1,398.3  1,395.2  1,405.1  1,409.4
      Old-age, survivors, disability, and
       health insurance benefits...........    751.8    760.8    765.7    776.8    779.9    782.9    786.3    789.9    792.9    796.6    800.0
      Government unemployment insurance
       benefits............................     51.2     51.7     46.5     43.2     39.2     34.8     36.5     35.0     33.0     35.2     31.7
      Other................................    530.1    535.1    550.6    557.1    562.0    568.9    571.2    573.3    569.3    573.3    577.7
    Other current transfer receipts, from
     business (net)........................     31.4     29.7     27.1     25.4     24.4     24.1     23.6     23.3     23.1     38.0     54.2

  Less: Contributions for government social
   insurance...............................    794.1    792.4    807.9    811.2    813.3    816.2    821.7    821.5    828.3    831.7    835.5

Less: Personal current taxes...............  1,017.6  1,018.1  1,011.3  1,016.2  1,020.7  1,026.5  1,035.3  1,038.5  1,052.7  1,061.3  1,070.9

Equals: Disposable personal income.........  8,335.8  8,370.9  8,437.3  8,484.0  8,523.6  8,565.3  8,618.9  8,637.0  8,677.7  8,718.4  8,722.9

Less: Personal outlays.....................  8,156.3  8,173.9  8,264.3  8,290.5  8,353.4  8,373.7  8,487.2  8,455.3  8,532.3  8,546.3  8,616.7

  Personal consumption expenditures........  7,868.5  7,885.3  7,977.7  8,005.9  8,070.5  8,086.6  8,196.5  8,161.3  8,235.3  8,246.1  8,313.7
    Durable goods..........................    966.6    955.7    960.5    970.9    983.1    970.1  1,001.7    956.8    990.8    975.5  1,006.4
    Nondurable goods.......................  2,235.7  2,232.2  2,271.2  2,268.7  2,314.3  2,301.0  2,342.4  2,339.8  2,347.7  2,348.1  2,370.7
    Services...............................  4,666.2  4,697.4  4,746.0  4,766.2  4,773.1  4,815.5  4,852.4  4,864.7  4,896.8  4,922.5  4,936.5
  Personal interest payments\1\............    181.5    181.9    179.7    177.2    175.0    178.1    181.2    184.1    186.7    189.4    191.9
  Personal current transfer payments.......    106.3    106.8    106.9    107.4    107.9    109.0    109.5    110.0    110.3    110.8    111.2
    To government..........................     63.2     63.7     64.2     64.7     65.2     65.7     66.2     66.6     67.1     67.6     68.0
    To the rest of the world (net).........     43.1     43.1     42.7     42.7     42.7     43.3     43.3     43.3     43.2     43.2     43.2

Equals: Personal saving....................    179.6    197.0    173.0    193.5    170.2    191.6    131.7    181.6    145.3    172.2    106.1

  Personal saving as a percentage of
   disposable personal income..............      2.2      2.4      2.1      2.3      2.0      2.2      1.5      2.1      1.7      2.0      1.2

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  7,853.8  7,867.8  7,898.2  7,914.8  7,924.0  7,949.9  7,965.0  7,961.4  7,994.5  8,025.3  8,019.9
    Per capita:
      Current dollars......................   28,524   28,624   28,832   28,970   29,084   29,204   29,362   29,399   29,512   29,624   29,613
      Chained (2000) dollars...............   26,875   26,904   26,989   27,027   27,038   27,105   27,135   27,099   27,188   27,269   27,226
  Population (midperiod, thousands)\3\.....  292,235  292,440  292,642  292,850  293,067  293,296  293,536  293,784  294,040  294,301  294,563
----------------------------------------------------------------------------------------------------------------------------------------------
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 1.--Personal Income and Its Disposition (Months)--Continued
                                      [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------------------------
                                              Oct 04   Nov 04   Dec 04   Jan 05   Feb 05   Mar 05   Apr 05   May 05   Jun 05   Jul 05   Aug 05
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................  9,885.1  9,914.2 10,258.9 10,018.9 10,051.4 10,076.3 10,125.0 10,152.8 10,206.6 10,288.3 10,103.5

  Compensation of employees, received......  6,793.8  6,802.8  6,831.5  6,874.2  6,891.3  6,903.3  6,935.2  6,946.5  6,979.3  7,064.2  7,087.7

    Wage and salary disbursements..........  5,496.7  5,499.7  5,521.0  5,546.8  5,557.2  5,563.1  5,589.0  5,594.6  5,620.3  5,693.0  5,709.8
      Private industries...................  4,546.2  4,547.3  4,567.8  4,580.9  4,588.4  4,592.8  4,616.5  4,620.9  4,645.2  4,715.4  4,729.5
        Goods-producing industries.........  1,070.1  1,068.5  1,075.4  1,077.9  1,079.4  1,079.4  1,083.4  1,086.7  1,092.5  1,107.9  1,116.6
          Manufacturing....................    699.4    695.8    699.1    699.2    697.4    694.2    695.5    697.3    699.2    707.0    712.0
        Services-producing industries......  3,476.0  3,478.8  3,492.4  3,503.0  3,508.9  3,513.4  3,533.1  3,534.2  3,552.8  3,607.5  3,612.9
          Trade, transportation, and
           utilities.......................    916.2    915.8    916.8    918.5    917.2    918.7    929.4    929.1    932.6    945.4    944.1
          Other services-producing
           industries......................  2,559.8  2,563.0  2,575.6  2,584.4  2,591.7  2,594.7  2,603.7  2,605.1  2,620.2  2,662.2  2,668.8
      Government...........................    950.5    952.4    953.2    965.9    968.9    970.3    972.4    973.7    975.1    977.6    980.2

    Supplements to wages and salaries......  1,297.1  1,303.0  1,310.5  1,327.4  1,334.0  1,340.2  1,346.2  1,351.9  1,359.0  1,371.2  1,378.0
      Employer contributions for employee
       pension and insurance funds.........    882.7    888.1    893.9    904.2    909.9    915.4    919.6    924.5    929.8    936.5    942.0
      Employer contributions for government
       social insurance....................    414.4    414.9    416.6    423.3    424.2    424.8    426.7    427.4    429.2    434.7    436.0

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    934.0    940.5    950.1    949.4    951.1    957.8    958.4    962.2    976.9    981.9    925.5
    Farm...................................     34.4     34.3     34.0     34.8     34.0     32.7     29.4     28.5     28.4     30.5     28.3
    Nonfarm................................    899.6    906.3    916.1    914.6    917.1    925.1    929.0    933.7    948.6    951.4    897.2

  Rental income of persons with capital
   consumption adjustment..................    125.1    123.5    121.7    121.8    118.8    114.8    107.1    102.6     98.7     96.3   -213.1

  Personal income receipts on assets.......  1,431.1  1,440.3  1,748.0  1,456.2  1,464.0  1,472.7  1,486.6  1,500.4  1,514.5  1,523.6  1,532.7
    Personal interest income...............    888.0    891.7    897.2    906.1    912.7    918.2    925.7    934.7    943.9    947.6    951.2
    Personal dividend income...............    543.1    548.6    850.8    550.1    551.2    554.5    561.0    565.7    570.5    576.1    581.6

  Personal current transfer receipts.......  1,442.1  1,449.4  1,453.6  1,478.8  1,490.1  1,492.9  1,507.0  1,511.7  1,511.7  1,507.5  1,658.5
    Government social benefits to persons..  1,418.3  1,424.7  1,427.5  1,449.4  1,459.0  1,460.5  1,474.5  1,478.7  1,478.2  1,473.5  1,495.7
      Old-age, survivors, disability, and
       health insurance benefits...........    803.8    808.4    813.0    824.3    836.1    836.3    842.3    844.2    846.6    847.5    848.5
      Government unemployment insurance
       benefits............................     32.9     33.0     30.9     35.5     31.9     30.9     30.6     32.0     29.3     30.6     30.7
      Other................................    581.6    583.4    583.5    589.6    590.9    593.4    601.6    602.5    602.3    595.4    616.6
    Other current transfer receipts, from
     business (net)........................     23.8     24.6     26.1     29.4     31.1     32.4     32.5     33.0     33.5     34.0    162.8

  Less: Contributions for government social
   insurance...............................    841.0    842.3    845.9    861.6    863.8    865.3    869.2    870.7    874.5    885.2    887.8

Less: Personal current taxes...............  1,082.1  1,087.3  1,095.2  1,150.8  1,157.7  1,165.3  1,184.4  1,191.3  1,199.7  1,207.1  1,213.5

Equals: Disposable personal income.........  8,803.0  8,826.9  9,163.7  8,868.1  8,893.8  8,911.0  8,940.7  8,961.4  9,006.9  9,081.2  8,890.0

Less: Personal outlays.....................  8,676.7  8,718.4  8,771.6  8,787.0  8,839.4  8,888.9  8,975.7  8,970.5  9,055.1  9,165.6  9,158.5

  Personal consumption expenditures........  8,371.6  8,410.8  8,462.0  8,469.4  8,520.7  8,569.0  8,654.4  8,644.6  8,724.8  8,833.9  8,825.5
    Durable goods..........................    997.4    999.5  1,022.5  1,005.9  1,010.1  1,023.2  1,055.5  1,012.7  1,058.8  1,114.7  1,042.6
    Nondurable goods.......................  2,407.5  2,412.4  2,418.2  2,430.8  2,457.4  2,462.4  2,513.8  2,501.3  2,510.7  2,540.6  2,577.2
    Services...............................  4,966.7  4,999.0  5,021.3  5,032.8  5,053.2  5,083.3  5,085.1  5,130.6  5,155.3  5,178.7  5,205.6
  Personal interest payments\1\............    194.3    196.3    198.0    199.0    199.8    200.6    204.6    208.5    212.5    213.7    214.6
  Personal current transfer payments.......    110.8    111.2    111.6    118.6    119.0    119.4    116.8    117.3    117.8    118.0    118.5
    To government..........................     68.5     68.9     69.3     69.6     69.9     70.4     70.8     71.3     71.8     72.2     72.7
    To the rest of the world (net).........     42.4     42.4     42.4     49.0     49.0     49.0     46.0     46.0     46.0     45.8     45.8

Equals: Personal saving....................    126.3    108.5    392.1     81.1     54.3     22.1    -35.1     -9.1    -48.2    -84.4   -268.5

  Personal saving as a percentage of
   disposable personal income..............      1.4      1.2      4.3       .9       .6       .2      -.4      -.1      -.5      -.9     -3.0

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  8,053.2  8,057.8  8,365.2  8,083.7  8,083.3  8,063.2  8,062.0  8,077.7  8,117.6  8,151.5  7,946.9
    Per capita:
      Current dollars......................   29,859   29,917   31,037   30,016   30,083   30,121   30,199   30,246   30,375   30,600   29,930
      Chained (2000) dollars...............   27,316   27,310   28,333   27,361   27,342   27,255   27,231   27,263   27,376   27,468   26,755
  Population (midperiod, thousands)\3\.....  294,817  295,045  295,249  295,445  295,640  295,843  296,059  296,287  296,522  296,769  297,027
----------------------------------------------------------------------------------------------------------------------------------------------
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 1.--Personal Income and Its Disposition (Months)--Continued
                                  [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------
                                              Sep 05   Oct 05   Nov 05   Dec 05   Jan 06   Feb 06   Mar 06   Apr 06   May 06 Jun 06\p\
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 10,396.1 10,452.6 10,472.4 10,526.1 10,612.4 10,644.2 10,685.8 10,762.9 10,804.6 10,871.1

  Compensation of employees, received......  7,128.7  7,169.6  7,173.1  7,210.6  7,282.1  7,317.9  7,345.9  7,408.6  7,413.1  7,458.2

    Wage and salary disbursements..........  5,742.7  5,777.3  5,776.5  5,807.2  5,863.6  5,893.4  5,915.8  5,969.4  5,969.8  6,008.1
      Private industries...................  4,758.8  4,791.8  4,788.2  4,816.6  4,868.3  4,894.7  4,915.4  4,966.3  4,964.0  4,998.6
        Goods-producing industries.........  1,117.0  1,125.9  1,121.9  1,127.0  1,140.9  1,145.0  1,147.3  1,155.6  1,158.5  1,165.1
          Manufacturing....................    709.9    719.2    711.9    713.9    723.9    726.5    727.6    732.5    732.5    734.7
        Services-producing industries......  3,641.7  3,665.9  3,666.3  3,689.6  3,727.4  3,749.7  3,768.1  3,810.7  3,805.5  3,833.6
          Trade, transportation, and
           utilities.......................    947.1    951.1    954.9    958.7    961.5    966.2    969.3    979.3    976.2    983.3
          Other services-producing
           industries......................  2,694.7  2,714.8  2,711.4  2,730.9  2,765.9  2,783.5  2,798.7  2,831.5  2,829.3  2,850.2
      Government...........................    983.9    985.5    988.3    990.6    995.3    998.7  1,000.4  1,003.2  1,005.8  1,009.5

    Supplements to wages and salaries......  1,386.0  1,392.2  1,396.5  1,403.4  1,418.5  1,424.5  1,430.1  1,439.2  1,443.3  1,450.2
      Employer contributions for employee
       pension and insurance funds.........    947.9    951.3    956.0    960.9    967.4    971.6    975.7    981.0    985.2    989.6
      Employer contributions for government
       social insurance....................    438.1    441.0    440.5    442.5    451.1    452.9    454.5    458.2    458.1    460.6

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    994.5    993.5    995.4  1,001.4  1,006.6  1,005.7  1,012.5  1,012.1  1,019.6  1,020.2
    Farm...................................     30.3     29.2     28.7     28.1     24.6     23.9     23.2     21.2     18.9     18.4
    Nonfarm................................    964.2    964.3    966.7    973.2    982.0    981.8    989.3    990.9  1,000.7  1,001.8

  Rental income of persons with capital
   consumption adjustment..................     82.3     80.1     83.9     80.5     78.0     75.9     76.4     72.4     68.3     63.2

  Personal income receipts on assets.......  1,541.8  1,561.3  1,580.3  1,599.1  1,600.8  1,602.1  1,603.9  1,626.5  1,649.6  1,673.6
    Personal interest income...............    954.8    968.5    981.8    994.9    992.0    989.1    986.2  1,003.8  1,021.4  1,039.0
    Personal dividend income...............    587.0    592.8    598.5    604.2    608.8    613.0    617.8    622.7    628.2    634.6

  Personal current transfer receipts.......  1,541.1  1,546.1  1,537.3  1,536.0  1,566.3  1,568.7  1,576.3  1,580.3  1,591.3  1,598.3
    Government social benefits to persons..  1,498.3  1,500.0  1,501.8  1,500.5  1,531.9  1,534.3  1,541.7  1,545.4  1,556.3  1,563.1
      Old-age, survivors, disability, and
       health insurance benefits...........    849.6    851.6    852.2    860.1    901.4    910.3    917.9    920.8    927.9    935.8
      Government unemployment insurance
       benefits............................     29.4     34.3     30.5     30.1     28.6     27.4     27.4     27.0     27.0     27.0
      Other................................    619.4    614.1    619.2    610.3    601.9    596.6    596.4    597.6    601.4    600.2
    Other current transfer receipts, from
     business (net)........................     42.8     46.1     35.4     35.5     34.4     34.5     34.6     34.8     35.0     35.2

  Less: Contributions for government social
   insurance...............................    892.4    897.8    897.5    901.5    921.4    926.2    929.3    937.1    937.3    942.4

Less: Personal current taxes...............  1,224.3  1,236.4  1,245.1  1,261.5  1,312.8  1,326.7  1,338.4  1,364.0  1,371.1  1,384.4

Equals: Disposable personal income.........  9,171.9  9,216.3  9,227.3  9,264.6  9,299.6  9,317.5  9,347.4  9,398.9  9,433.5  9,486.7

Less: Personal outlays.....................  9,216.9  9,248.1  9,253.1  9,292.5  9,371.3  9,418.6  9,465.7  9,530.4  9,586.0  9,625.6

  Personal consumption expenditures........  8,882.5  8,911.6  8,916.4  8,955.5  9,034.4  9,079.2  9,123.8  9,182.2  9,233.6  9,269.0
    Durable goods..........................  1,014.6    996.5  1,023.3  1,039.1  1,069.8  1,055.7  1,066.9  1,064.4  1,057.4  1,060.5
    Nondurable goods.......................  2,637.0  2,652.1  2,594.2  2,594.1  2,655.7  2,654.5  2,664.5  2,704.1  2,727.4  2,737.2
    Services...............................  5,230.9  5,263.0  5,299.0  5,322.3  5,308.9  5,369.0  5,392.5  5,413.7  5,448.8  5,471.3
  Personal interest payments\1\............    215.4    215.1    214.9    214.7    216.6    218.5    220.4    224.1    227.7    231.4
  Personal current transfer payments.......    119.0    121.3    121.8    122.3    120.4    120.9    121.4    124.1    124.7    125.2
    To government..........................     73.2     73.7     74.2     74.7     75.2     75.7     76.3     76.8     77.3     77.9
    To the rest of the world (net).........     45.8     47.6     47.6     47.6     45.2     45.2     45.2     47.3     47.3     47.3

Equals: Personal saving....................    -45.1    -31.8    -25.8    -27.8    -71.7   -101.1   -118.2   -131.6   -152.5   -138.9

  Personal saving as a percentage of
   disposable personal income..............      -.5      -.3      -.3      -.3      -.8     -1.1     -1.3     -1.4     -1.6     -1.5

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  8,123.5  8,144.5  8,185.4  8,220.1  8,211.7  8,221.5  8,219.2  8,227.0  8,226.7  8,258.8
    Per capita:
      Current dollars......................   30,852   30,976   30,990   31,094   31,192   31,231   31,311   31,460   31,552   31,705
      Chained (2000) dollars...............   27,326   27,373   27,490   27,589   27,543   27,558   27,531   27,538   27,516   27,601
  Population (midperiod, thousands)\3\.....  297,285  297,534  297,756  297,954  298,144  298,337  298,539  298,753  298,979  299,216
-------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
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]
----------------------------------------------------------------------------------------------------------------------------
                                                2002     2003     2004     2005    IV 02     I 03    II 03   III 03    IV 03
----------------------------------------------------------------------------------------------------------------------------
Personal income............................  8,881.9  9,163.6  9,731.4 10,239.2  8,925.5  8,998.2  9,111.3  9,203.6  9,341.3

  Compensation of employees, received......  6,091.2  6,310.4  6,665.3  7,030.3  6,133.4  6,191.0  6,275.4  6,340.8  6,434.3

    Wage and salary disbursements..........  4,980.9  5,112.7  5,392.1  5,664.8  4,984.5  5,021.0  5,085.1  5,134.3  5,210.4
      Private industries...................  4,115.0  4,208.3  4,450.3  4,687.1  4,109.1  4,127.2  4,180.6  4,227.2  4,298.2
        Goods-producing industries.........  1,010.7  1,007.9  1,050.8  1,101.3    999.9    999.9  1,000.8  1,001.7  1,029.1
          Manufacturing....................    675.5    668.9    688.0    704.7    667.1    665.9    664.5    662.9    682.2
        Services-producing industries......  3,104.2  3,200.4  3,399.5  3,585.8  3,109.2  3,127.3  3,179.8  3,225.5  3,269.0
          Trade, transportation, and
           utilities.......................    843.1    858.3    899.2    937.2    842.0    849.5    853.2    859.0    871.6
          Other services-producing
           industries......................  2,261.1  2,342.1  2,500.3  2,648.5  2,267.2  2,277.8  2,326.6  2,366.6  2,397.5
      Government...........................    865.9    904.4    941.8    977.7    875.4    893.8    904.5    907.1    912.2

    Supplements to wages and salaries......  1,110.3  1,197.7  1,273.2  1,365.5  1,148.9  1,170.0  1,190.3  1,206.6  1,223.9
      Employer contributions for employee
       pension and insurance funds.........    745.1    815.6    866.1    933.2    783.2    795.1    810.1    822.5    834.7
      Employer contributions for government
       social insurance....................    365.2    382.1    407.1    432.3    365.8    374.9    380.3    384.1    389.2

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    768.4    811.3    911.1    970.7    778.1    779.1    801.6    823.5    840.8
    Farm...................................     10.6     29.2     36.2     30.2     18.4     21.8     30.5     32.1     32.5
    Nonfarm................................    757.8    782.1    874.9    940.4    759.7    757.4    771.2    791.5    808.3

  Rental income of persons with capital
   consumption adjustment..................    152.9    133.0    127.0     72.8    129.2    137.4    130.5    116.3    147.6

  Personal income receipts on assets.......  1,333.2  1,336.6  1,427.9  1,519.4  1,328.5  1,329.1  1,334.9  1,339.5  1,343.1
    Personal interest income...............    936.1    914.1    890.8    945.0    918.4    919.7    919.6    914.6    902.4
    Personal dividend income...............    397.2    422.6    537.1    574.4    410.0    409.4    415.3    424.9    440.7

  Personal current transfer receipts.......  1,286.2  1,351.0  1,426.5  1,526.6  1,307.1  1,327.0  1,344.0  1,365.5  1,367.6
    Government social benefits to persons..  1,248.9  1,316.7  1,398.4  1,480.9  1,274.2  1,290.5  1,308.3  1,331.6  1,336.4
      Old-age, survivors, disability, and
       health insurance benefits...........    707.5    741.3    791.4    844.9    716.7    728.7    738.0    744.7    753.9
      Government unemployment insurance
       benefits............................     53.2     52.8     36.0     31.3     53.1     50.9     54.6     54.3     51.4
      Other................................    488.2    522.5    571.0    604.6    504.4    510.9    515.7    532.5    531.1
    Other current transfer receipts, from
     business (net)........................     37.3     34.3     28.1     45.7     32.9     36.4     35.6     33.9     31.2

  Less: Contributions for government social
   insurance...............................    750.0    778.6    826.4    880.6    750.9    765.4    775.0    782.1    791.9

Less: Personal current taxes...............  1,051.8  1,001.1  1,049.8  1,203.1  1,043.8  1,022.7  1,023.7    942.6  1,015.4

Equals: Disposable personal income.........  7,830.1  8,162.5  8,681.6  9,036.1  7,881.7  7,975.5  8,087.6  8,261.0  8,326.0

Less: Personal outlays.....................  7,645.3  7,987.7  8,507.2  9,070.9  7,742.4  7,826.4  7,913.7  8,067.0  8,143.5

  Personal consumption expenditures........  7,350.7  7,703.6  8,211.5  8,742.4  7,453.1  7,548.1  7,628.4  7,782.6  7,855.3
    Durable goods..........................    923.9    942.7    986.3  1,033.1    921.5    911.5    937.3    964.4    957.4
    Nondurable goods.......................  2,079.6  2,190.2  2,345.2  2,539.3  2,109.7  2,159.0  2,155.4  2,216.8  2,229.5
    Services...............................  4,347.2  4,570.8  4,880.1  5,170.0  4,421.8  4,477.7  4,535.6  4,601.4  4,668.4
  Personal interest payments\1\............    196.4    182.5    186.0    209.4    188.8    179.1    184.4    184.6    181.9
  Personal current transfer payments.......     98.2    101.5    109.7    119.2    100.5     99.1    100.9     99.8    106.3
    To government..........................     58.2     61.3     66.8     72.0     59.4     59.5     60.6     61.8     63.2
    To the rest of the world (net).........     40.0     40.2     42.9     47.1     41.1     39.6     40.3     38.0     43.1

Equals: Personal saving....................    184.7    174.9    174.3    -34.8    139.3    149.1    173.9    194.0    182.5

  Personal saving as a percentage of
   disposable personal income..............      2.4      2.1      2.0      -.4      1.8      1.9      2.2      2.3      2.2

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  7,562.2  7,729.9  8,010.8  8,104.6  7,559.3  7,591.7  7,685.7  7,804.8  7,837.3
    Per capita:
      Current dollars......................   27,164   28,039   29,536   30,458   27,237   27,499   27,820   28,341   28,492
      Chained (2000) dollars...............   26,235   26,553   27,254   27,318   26,123   26,176   26,437   26,776   26,819
  Population (midperiod, thousands)\3\.....  288,253  291,114  293,933  296,677  289,375  290,025  290,717  291,485  292,226
----------------------------------------------------------------------------------------------------------------------------
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)--Continued
                                 [Billions of dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------
                                                I 04    II 04   III 04    IV 04     I 05    II 05   III 05    IV 05     I 06    II 06
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................  9,497.7  9,640.5  9,767.9 10,019.4 10,048.8 10,161.5 10,262.7 10,483.7 10,647.5 10,812.9

  Compensation of employees, received......  6,525.4  6,611.7  6,714.6  6,809.4  6,889.6  6,953.7  7,093.6  7,184.4  7,315.3  7,426.6

    Wage and salary disbursements..........  5,279.9  5,349.6  5,433.1  5,505.8  5,555.7  5,601.3  5,715.2  5,787.0  5,890.9  5,982.4
      Private industries...................  4,350.1  4,409.1  4,488.3  4,553.8  4,587.3  4,627.6  4,734.6  4,798.9  4,892.8  4,976.3
        Goods-producing industries.........  1,026.0  1,043.2  1,062.9  1,071.4  1,078.9  1,087.5  1,113.9  1,124.9  1,144.4  1,159.7
          Manufacturing....................    673.6    683.0    697.1    698.1    696.9    697.3    709.7    715.0    726.0    733.2
        Services-producing industries......  3,324.2  3,365.9  3,425.4  3,482.4  3,508.4  3,540.0  3,620.7  3,673.9  3,748.4  3,816.6
          Trade, transportation, and
           utilities.......................    878.5    894.2    907.8    916.3    918.2    930.4    945.5    954.9    965.7    979.6
          Other services-producing
           industries......................  2,445.7  2,471.7  2,517.6  2,566.1  2,590.3  2,609.7  2,675.2  2,719.0  2,782.7  2,837.0
      Government...........................    929.8    940.5    944.8    952.1    968.4    973.7    980.6    988.1    998.1  1,006.1

    Supplements to wages and salaries......  1,245.5  1,262.1  1,281.5  1,303.5  1,333.9  1,352.4  1,378.4  1,397.4  1,424.4  1,444.2
      Employer contributions for employee
       pension and insurance funds.........    846.1    858.2    871.7    888.3    909.8    924.7    942.1    956.1    971.6    985.3
      Employer contributions for government
       social insurance....................    399.4    403.8    409.8    415.3    424.1    427.7    436.3    441.3    452.8    458.9

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    877.5    910.2    915.1    941.5    952.8    965.8    967.3    996.8  1,008.3  1,017.3
    Farm...................................     38.1     39.5     32.9     34.3     33.9     28.7     29.7     28.7     23.9     19.5
    Nonfarm................................    839.4    870.6    882.2    907.3    918.9    937.1    937.7    968.1    984.4    997.8

  Rental income of persons with capital
   consumption adjustment..................    140.1    132.0    112.7    123.4    118.5    102.8    -11.5     81.5     76.8     68.0

  Personal income receipts on assets.......  1,366.1  1,389.8  1,415.7  1,539.8  1,464.3  1,500.5  1,532.7  1,580.2  1,602.3  1,649.9
    Personal interest income...............    892.8    889.0    889.1    892.3    912.3    934.8    951.2    981.7    989.1  1,021.4
    Personal dividend income...............    473.4    500.8    526.6    647.5    552.0    565.7    581.5    598.5    613.2    628.5

  Personal current transfer receipts.......  1,399.3  1,416.7  1,441.7  1,448.4  1,487.3  1,510.1  1,569.0  1,539.8  1,570.4  1,589.9
    Government social benefits to persons..  1,373.7  1,393.0  1,403.2  1,423.5  1,456.3  1,477.2  1,489.2  1,500.8  1,536.0  1,554.9
      Old-age, survivors, disability, and
       health insurance benefits...........    774.2    786.4    796.5    808.4    832.2    844.4    848.5    854.6    909.9    928.2
      Government unemployment insurance
       benefits............................     43.0     35.5     33.3     32.3     32.8     30.7     30.2     31.6     27.8     27.0
      Other................................    556.6    571.1    573.5    582.8    591.3    602.1    610.4    614.5    598.3    599.8
    Other current transfer receipts, from
     business (net)........................     25.6     23.7     38.4     24.8     31.0     33.0     79.8     39.0     34.5     35.0

  Less: Contributions for government social
   insurance...............................    810.8    819.8    831.8    843.1    863.6    871.5    888.5    898.9    925.6    938.9

Less: Personal current taxes...............  1,016.0  1,033.4  1,061.6  1,088.2  1,157.9  1,191.8  1,215.0  1,247.6  1,326.0  1,373.2

Equals: Disposable personal income.........  8,481.6  8,607.1  8,706.3  8,931.2  8,890.9  8,969.7  9,047.7  9,236.1  9,321.5  9,439.7

Less: Personal outlays.....................  8,302.7  8,438.7  8,565.1  8,722.3  8,838.5  9,000.4  9,180.3  9,264.5  9,418.5  9,580.7

  Personal consumption expenditures........  8,018.0  8,148.1  8,265.0  8,414.8  8,519.7  8,674.6  8,847.3  8,927.8  9,079.2  9,228.3
    Durable goods..........................    971.5    976.2    990.9  1,006.4  1,013.1  1,042.3  1,057.3  1,019.6  1,064.1  1,060.8
    Nondurable goods.......................  2,284.7  2,327.8  2,355.5  2,412.7  2,450.2  2,508.6  2,584.9  2,613.5  2,658.2  2,722.9
    Services...............................  4,761.8  4,844.2  4,918.6  4,995.7  5,056.4  5,123.7  5,205.1  5,294.7  5,356.8  5,444.6
  Personal interest payments\1\............    177.3    181.1    189.3    196.2    199.8    208.5    214.6    214.9    218.5    227.7
  Personal current transfer payments.......    107.4    109.5    110.7    111.2    119.0    117.3    118.5    121.8    120.9    124.7
    To government..........................     64.7     66.2     67.6     68.9     69.9     71.3     72.7     74.2     75.7     77.3
    To the rest of the world (net).........     42.7     43.3     43.2     42.4     49.0     46.0     45.8     47.6     45.2     47.3

Equals: Personal saving....................    178.9    168.3    141.2    208.9     52.5    -30.8   -132.6    -28.5    -97.0   -141.0

  Personal saving as a percentage of
   disposable personal income..............      2.1      2.0      1.6      2.3       .6      -.3     -1.5      -.3     -1.0     -1.5

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................  7,912.4  7,958.8  8,013.3  8,158.8  8,076.6  8,085.8  8,074.1  8,183.3  8,217.4  8,237.5
    Per capita:
      Current dollars......................   28,962   29,322   29,583   30,271   30,073   30,273   30,461   31,020   31,245   31,573
      Chained (2000) dollars...............   27,018   27,113   27,228   27,654   27,319   27,290   27,183   27,484   27,544   27,552
  Population (midperiod, thousands)\3\.....  292,853  293,539  294,301  295,037  295,643  296,289  297,027  297,748  298,340  298,983
-------------------------------------------------------------------------------------------------------------------------------------
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]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................    22.8    27.1    36.1    27.2    59.3    39.8    17.5    25.5    34.6    46.3    72.0    35.5    59.6    51.6

  Compensation of employees, received......    20.6    28.8    23.8    21.4    43.4    25.6     9.2    26.1    22.0    43.2    43.1    -5.6    52.4    30.4

    Wage and salary disbursements..........    12.4    21.2    17.0    15.6    35.2    19.8     5.0    20.6    16.6    36.3    37.1    -8.4    39.6    25.2
      Private industries...................      .0    16.5    14.3    13.1    31.4    13.1     7.9    20.5    17.5    32.7    35.2   -11.1    28.4    22.0
        Goods-producing industries.........    -1.6      .3      .2    -3.3     5.3     1.3    -7.9     5.4     7.8    14.4    11.4    -4.7    -5.0      .5
          Manufacturing....................    -2.4     1.5    -1.0    -4.1     4.2      .4    -7.0     3.0     5.0    10.5     9.1    -4.7    -7.5     -.8
        Services-producing industries......     1.7    16.2    14.1    16.3    26.2    11.8    15.9    15.0     9.7    18.3    23.8    -6.4    33.4    21.5
          Trade, transportation, and
           utilities.......................     2.8     4.4     2.6    -1.7     3.0      .6      .5     4.7     2.1     9.7     3.0    -6.1     5.7     4.4
          Other services-producing
           industries......................    -1.2    11.9    11.5    18.0    23.2    11.2    15.3    10.4     7.5     8.7    20.7     -.1    27.6    17.1
      Government...........................    12.4     4.7     2.7     2.5     3.8     6.7    -3.0      .3    -1.0     3.6     1.9     2.7    11.2     3.2

    Supplements to wages and salaries......     8.2     7.6     6.8     5.9     8.0     5.9     4.2     5.4     5.5     6.9     6.1     2.7    12.8     5.2
      Employer contributions for employee
       pension and insurance funds.........     1.4     5.7     4.8     4.7     5.7     4.1     3.8     4.0     4.0     4.6     3.6     3.6     4.2     3.5
      Employer contributions for government
       social insurance....................     6.7     2.0     1.8     1.3     2.4     1.7      .4     1.4     1.5     2.3     2.5     -.9     8.6     1.7

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     -.5    -2.8     5.7     6.2    15.9     8.4     5.0     4.1     9.8      .8     7.0    11.7    14.8     9.3
    Farm...................................     -.1     1.8     2.3     4.7     2.1     1.3     -.3      .4      .3     -.8      .7     1.3     3.2     1.4
    Nonfarm................................     -.4    -4.5     3.3     1.5    13.8     7.1     5.3     3.7     9.5     1.6     6.3    10.3    11.7     7.9

  Rental income of persons with capital
   consumption adjustment..................     8.3     1.0     -.7    -3.5    -3.1    -3.8    -6.6    -6.6     1.4    18.9    17.1     6.7   -15.0    -2.7

  Personal income receipts on assets.......    -2.3     1.3     1.5     1.2     3.2     3.2     3.3    -1.3    -3.1     -.7     5.9     8.4    10.2     5.3
    Personal interest income...............      .0     1.1      .8    -1.8      .9      .6      .2    -5.0    -7.6    -4.7    -1.0     -.4    -3.8    -5.4
    Personal dividend income...............    -2.4      .2      .7     3.0     2.3     2.6     3.1     3.8     4.4     4.0     6.9     8.8    14.1    10.6

  Personal current transfer receipts.......     7.1     2.2     8.9     4.1     4.7     9.4     7.4     5.8     7.3   -11.4     3.6    12.7    12.7    12.6
    Government social benefits to persons..     2.6     2.4     9.1     4.3     4.9    10.0     8.0     6.4     8.2   -10.8     4.7    14.5    15.2    14.4
      Old-age, survivors, disability, and
       health insurance benefits...........     3.8     1.8     3.1     2.6     6.0      .1     1.0     4.9     1.2     1.8     2.8     9.0     4.9    11.1
      Government unemployment insurance
       benefits............................    -4.9      .2     4.2      .9    -3.0     5.6    -2.9    -1.5     2.8    -4.3     -.2      .5    -5.2    -3.3
      Other................................     3.7      .4     1.8      .8     1.9     4.3     9.9     3.1     4.1    -8.3     2.1     5.0    15.5     6.5
    Other current transfer receipts, from
     business (net)........................     4.6     -.3     -.2     -.2     -.3     -.5     -.6     -.6     -.9     -.6    -1.1    -1.7    -2.6    -1.7

  Less: Contributions for government social
   insurance...............................    10.4     3.4     3.1     2.3     4.7     3.0      .8     2.7     2.7     4.5     4.8    -1.7    15.5     3.3

Less: Personal current taxes...............   -19.2      .4      .2    -6.2     6.7     7.2   -96.0   -45.2   114.1     6.7     7.3      .5    -6.8     4.9

Equals: Disposable personal income.........    42.1    26.6    35.9    33.4    52.6    32.6   113.5    70.6   -79.4    39.6    64.6    35.1    66.4    46.7

Less: Personal outlays.....................    14.3    10.1    58.1    11.8    24.6    51.1    51.3    98.2   -17.2    11.9    56.1    17.6    90.4    26.2

  Personal consumption expenditures........    20.8    10.7    56.7     7.7    22.0    49.6    54.5    97.6   -17.2     8.6    56.2    16.8    92.4    28.2
    Durable goods..........................   -22.0   -27.4    14.5    21.3     2.4     7.3    11.1    30.2   -29.4    -4.8    16.5   -10.9     4.8    10.4
    Nondurable goods.......................    18.3    21.7    28.0   -30.2   -15.0    32.2    16.1    42.2     2.1   -11.6    15.0    -3.5    39.0    -2.5
    Services...............................    24.5    16.3    14.4    16.4    34.8    10.0    27.3    25.2    10.1    25.0    24.7    31.2    48.6    20.2
  Personal interest payments\1\............    -4.5     -.9      .9     3.2     2.1     1.2    -1.2      .1     -.4    -2.2     -.7      .4    -2.2    -2.5
  Personal current transfer payments.......    -2.0      .3      .4     1.0      .4      .4    -1.9      .4      .5     5.5      .5      .5      .1      .5
    To government..........................     -.5      .3      .4      .3      .4      .4      .4      .4      .5      .4      .5      .5      .5      .5
    To the rest of the world (net).........    -1.5      .0      .0      .7      .0      .0    -2.3      .0      .0     5.1      .0      .0     -.4      .0

Equals: Personal saving....................    27.7    16.5   -22.2    21.6    28.0   -18.5    62.2   -27.6   -62.2    27.7     8.6    17.4   -24.0    20.5

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............    23.3   -10.5     4.3    49.3    56.6    22.6    89.6    41.7   -96.3    35.7    63.5    14.0    30.4    16.6
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
   for personal consumption expenditures.

                              Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)--Continued
                                             [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................    44.0    47.6    62.5    21.2    54.9    49.3    14.0    91.4    29.1   344.7  -240.0    32.5    24.9    48.7

  Compensation of employees, received......    23.7    30.9    43.0     2.2    56.7    29.1    33.1    47.4     9.0    28.7    42.7    17.1    12.0    31.9

    Wage and salary disbursements..........    19.0    25.1    36.2    -1.9    49.0    22.4    26.4    38.5     3.0    21.3    25.8    10.4     5.9    25.9
      Private industries...................    13.7    17.3    39.4    -3.3    47.4    19.4    24.1    35.3     1.1    20.5    13.1     7.5     4.4    23.7
        Goods-producing industries.........     2.4     6.6    14.1    -1.5    10.1     6.9     3.8     2.4    -1.6     6.9     2.5     1.5      .0     4.0
          Manufacturing....................    -1.4     3.5    11.4    -1.6     7.5     4.9     1.9     -.6    -3.6     3.3      .1    -1.8    -3.2     1.3
        Services-producing industries......    11.3    10.7    25.3    -1.8    37.2    12.5    20.4    32.8     2.8    13.6    10.6     5.9     4.5    19.7
          Trade, transportation, and
           utilities.......................     4.1     8.1     5.5     -.7     8.8     1.9     6.4     3.5     -.4     1.0     1.7    -1.3     1.5    10.7
          Other services-producing
           industries......................     7.2     2.6    19.8    -1.1    28.5    10.5    13.9    29.4     3.2    12.6     8.8     7.3     3.0     9.0
      Government...........................     5.3     7.8    -3.2     1.4     1.7     2.9     2.3     3.2     1.9      .8    12.7     3.0     1.4     2.1

    Supplements to wages and salaries......     4.7     5.8     6.7     4.2     7.7     6.7     6.8     8.8     5.9     7.5    16.9     6.6     6.2     6.0
      Employer contributions for employee
       pension and insurance funds.........     3.7     4.5     3.9     4.3     4.4     4.9     5.0     6.0     5.4     5.8    10.3     5.7     5.5     4.2
      Employer contributions for government
       social insurance....................     1.0     1.3     2.9     -.3     3.4     1.8     1.7     2.9      .5     1.7     6.7      .9      .6     1.9

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    16.8     9.2    10.4     6.7      .0    -1.7    -5.6    23.2     6.5     9.6     -.7     1.7     6.7      .6
    Farm...................................     1.0      .8     -.2     -.9    -3.7    -2.6    -1.7     3.5     -.1     -.3      .8     -.8    -1.3    -3.3
    Nonfarm................................    15.8     8.4    10.7     7.5     3.7      .9    -4.0    19.8     6.7     9.8    -1.5     2.5     8.0     3.9

  Rental income of persons with capital
   consumption adjustment..................    -2.7    -3.1    -2.4    -2.1     -.9    -6.2   -36.2    38.6    -1.6    -1.8      .1    -3.0    -4.0    -7.7

  Personal income receipts on assets.......     5.3     8.4     9.9    10.4     9.1     6.8     6.0     9.1     9.2   307.7  -291.8     7.8     8.7    13.9
    Personal interest income...............    -4.8      .3      .8     1.2      .4    -1.2    -1.9      .6     3.7     5.5     8.9     6.6     5.5     7.5
    Personal dividend income...............    10.2     8.0     9.1     9.1     8.8     8.0     7.8     8.6     5.5   302.2  -300.7     1.1     3.3     6.5

  Personal current transfer receipts.......     3.0     5.2     7.0     3.9    -3.3    24.9    20.3   -21.4     7.3     4.2    25.2    11.3     2.8    14.1
    Government social benefits to persons..     3.9     5.4     7.6     4.2    -3.1     9.9     4.3     8.9     6.4     2.8    21.9     9.6     1.5    14.0
      Old-age, survivors, disability, and
       health insurance benefits...........     3.1     3.0     3.4     3.6     3.0     3.7     3.4     3.8     4.6     4.6    11.3    11.8      .2     6.0
      Government unemployment insurance
       benefits............................    -4.0    -4.4     1.7    -1.5    -2.0     2.2    -3.5     1.2      .1    -2.1     4.6    -3.6    -1.0     -.3
      Other................................     4.9     6.9     2.3     2.1    -4.0     4.0     4.4     3.9     1.8      .1     6.1     1.3     2.5     8.2
    Other current transfer receipts, from
     business (net)........................    -1.0     -.3     -.5     -.3     -.2    14.9    16.2   -30.4      .8     1.5     3.3     1.7     1.3      .1

  Less: Contributions for government social
   insurance...............................     2.1     2.9     5.5     -.2     6.8     3.4     3.8     5.5     1.3     3.6    15.7     2.2     1.5     3.9

Less: Personal current taxes...............     4.5     5.8     8.8     3.2    14.2     8.6     9.6    11.2     5.2     7.9    55.6     6.9     7.6    19.1

Equals: Disposable personal income.........    39.6    41.7    53.6    18.1    40.7    40.7     4.5    80.1    23.9   336.8  -295.6    25.7    17.2    29.7

Less: Personal outlays.....................    62.9    20.3   113.5   -31.9    77.0    14.0    70.4    60.0    41.7    53.2    15.4    52.4    49.5    86.8

  Personal consumption expenditures........    64.6    16.1   109.9   -35.2    74.0    10.8    67.6    57.9    39.2    51.2     7.4    51.3    48.3    85.4
    Durable goods..........................    12.2   -13.0    31.6   -44.9    34.0   -15.3    30.9    -9.0     2.1    23.0   -16.6     4.2    13.1    32.3
    Nondurable goods.......................    45.6   -13.3    41.4    -2.6     7.9      .4    22.6    36.8     4.9     5.8    12.6    26.6     5.0    51.4
    Services...............................     6.9    42.4    36.9    12.3    32.1    25.7    14.0    30.2    32.3    22.3    11.5    20.4    30.1     1.8
  Personal interest payments\1\............    -2.2     3.1     3.1     2.9     2.6     2.7     2.5     2.4     2.0     1.7     1.0      .8      .8     4.0
  Personal current transfer payments.......      .5     1.1      .5      .5      .3      .5      .4     -.4      .4      .4     7.0      .4      .4    -2.6
    To government..........................      .5      .5      .5      .4      .5      .5      .4      .5      .4      .4      .3      .3      .5      .4
    To the rest of the world (net).........      .0      .6      .0      .0     -.1      .0      .0     -.8      .0      .0     6.6      .0      .0    -3.0

Equals: Personal saving....................   -23.3    21.4   -59.9    49.9   -36.3    26.9   -66.1    20.2   -17.8   283.6  -311.0   -26.8   -32.2   -57.2

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............     9.2    25.9    15.1    -3.6    33.1    30.8    -5.4    33.3     4.6   307.4  -281.5     -.4   -20.1    -1.2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
   for personal consumption expenditures.

                              Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)--Continued
                                             [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................    27.8    53.8    81.7  -184.8   292.6    56.5    19.8    53.7    86.3    31.8    41.6    77.1    41.7    66.5

  Compensation of employees, received......    11.3    32.8    84.9    23.5    41.0    40.9     3.5    37.5    71.5    35.8    28.0    62.7     4.5    45.1

    Wage and salary disbursements..........     5.6    25.7    72.7    16.8    32.9    34.6     -.8    30.7    56.4    29.8    22.4    53.6      .4    38.3
      Private industries...................     4.4    24.3    70.2    14.1    29.3    33.0    -3.6    28.4    51.7    26.4    20.7    50.9    -2.3    34.6
        Goods-producing industries.........     3.3     5.8    15.4     8.7      .4     8.9    -4.0     5.1    13.9     4.1     2.3     8.3     2.9     6.6
          Manufacturing....................     1.8     1.9     7.8     5.0    -2.1     9.3    -7.3     2.0    10.0     2.6     1.1     4.9      .0     2.2
        Services-producing industries......     1.1    18.6    54.7     5.4    28.8    24.2      .4    23.3    37.8    22.3    18.4    42.6    -5.2    28.1
          Trade, transportation, and
           utilities.......................     -.3     3.5    12.8    -1.3     3.0     4.0     3.8     3.8     2.8     4.7     3.1    10.0    -3.1     7.1
          Other services-producing
           industries......................     1.4    15.1    42.0     6.6    25.9    20.1    -3.4    19.5    35.0    17.6    15.2    32.8    -2.2    20.9
      Government...........................     1.3     1.4     2.5     2.6     3.7     1.6     2.8     2.3     4.7     3.4     1.7     2.8     2.6     3.7

    Supplements to wages and salaries......     5.7     7.1    12.2     6.8     8.0     6.2     4.3     6.9    15.1     6.0     5.6     9.1     4.1     6.9
      Employer contributions for employee
       pension and insurance funds.........     4.9     5.3     6.7     5.5     5.9     3.4     4.7     4.9     6.5     4.2     4.1     5.3     4.2     4.4
      Employer contributions for government
       social insurance....................      .7     1.8     5.5     1.3     2.1     2.9     -.5     2.0     8.6     1.8     1.6     3.7     -.1     2.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     3.8    14.7     5.0   -56.4    69.0    -1.0     1.9     6.0     5.2     -.9     6.8     -.4     7.5      .6
    Farm...................................     -.9     -.1     2.1    -2.2     2.0    -1.1     -.5     -.6    -3.5     -.7     -.7    -2.0    -2.3     -.5
    Nonfarm................................     4.7    14.9     2.8   -54.2    67.0      .1     2.4     6.5     8.8     -.2     7.5     1.6     9.8     1.1

  Rental income of persons with capital
   consumption adjustment..................    -4.5    -3.9    -2.4  -309.4   295.4    -2.2     3.8    -3.4    -2.5    -2.1      .5    -4.0    -4.1    -5.1

  Personal income receipts on assets.......    13.8    14.1     9.1     9.1     9.1    19.5    19.0    18.8     1.7     1.3     1.8    22.6    23.1    24.0
    Personal interest income...............     9.0     9.2     3.7     3.6     3.6    13.7    13.3    13.1    -2.9    -2.9    -2.9    17.6    17.6    17.6
    Personal dividend income...............     4.7     4.8     5.6     5.5     5.4     5.8     5.7     5.7     4.6     4.2     4.8     4.9     5.5     6.4

  Personal current transfer receipts.......     4.7      .0    -4.2   151.0  -117.4     5.0    -8.8    -1.3    30.3     2.4     7.6     4.0    11.0     7.0
    Government social benefits to persons..     4.2     -.5    -4.7    22.2     2.6     1.7     1.8    -1.3    31.4     2.4     7.4     3.7    10.9     6.8
      Old-age, survivors, disability, and
       health insurance benefits...........     1.9     2.4      .9     1.0     1.1     2.0      .6     7.9    41.3     8.9     7.6     2.9     7.1     7.9
      Government unemployment insurance
       benefits............................     1.4    -2.7     1.3      .1    -1.3     4.9    -3.8     -.4    -1.5    -1.2      .0     -.4      .0      .0
      Other................................      .9     -.2    -6.9    21.2     2.8    -5.3     5.1    -8.9    -8.4    -5.3     -.2     1.2     3.8    -1.2
    Other current transfer receipts, from
     business (net)........................      .5      .5      .5   128.8  -120.0     3.3   -10.7      .1    -1.1      .1      .1      .2      .2      .2

  Less: Contributions for government social
   insurance...............................     1.5     3.8    10.7     2.6     4.6     5.4     -.3     4.0    19.9     4.8     3.1     7.8      .2     5.1

Less: Personal current taxes...............     6.9     8.4     7.4     6.4    10.8    12.1     8.7    16.4    51.3    13.9    11.7    25.6     7.1    13.3

Equals: Disposable personal income.........    20.7    45.5    74.3  -191.2   281.9    44.4    11.0    37.3    35.0    17.9    29.9    51.5    34.6    53.2

Less: Personal outlays.....................    -5.2    84.6   110.5    -7.1    58.4    31.2     5.0    39.4    78.8    47.3    47.1    64.7    55.6    39.6

  Personal consumption expenditures........    -9.8    80.2   109.1    -8.4    57.0    29.1     4.8    39.1    78.9    44.8    44.6    58.4    51.4    35.4
    Durable goods..........................   -42.8    46.1    55.9   -72.1   -28.0   -18.1    26.8    15.8    30.7   -14.1    11.2    -2.5    -7.0     3.1
    Nondurable goods.......................   -12.5     9.4    29.9    36.6    59.8    15.1   -57.9     -.1    61.6    -1.2    10.0    39.6    23.3     9.8
    Services...............................    45.5    24.7    23.4    26.9    25.3    32.1    36.0    23.3   -13.4    60.1    23.5    21.2    35.1    22.5
  Personal interest payments\1\............     3.9     4.0     1.2      .9      .8     -.3     -.2     -.2     1.9     1.9     1.9     3.7     3.6     3.7
  Personal current transfer payments.......      .5      .5      .2      .5      .5     2.3      .5      .5    -1.9      .5      .5     2.7      .6      .5
    To government..........................      .5      .5      .4      .5      .5      .5      .5      .5      .5      .5      .6      .5      .5      .6
    To the rest of the world (net).........      .0      .0     -.2      .0      .0     1.8      .0      .0    -2.4      .0      .0     2.1      .0      .0

Equals: Personal saving....................    26.0   -39.1   -36.2  -184.1   223.4    13.3     6.0    -2.0   -43.9   -29.4   -17.1   -13.4   -20.9    13.6

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............    15.7    39.9    33.9  -204.6   176.6    21.0    40.9    34.7    -8.4     9.8    -2.3     7.8     -.3    32.1
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
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]
-----------------------------------------------------------------------------------------------------------
                                               2002    2003    2004    2005    I 03   II 03  III 03   IV 03
-----------------------------------------------------------------------------------------------------------
Personal income............................   157.8   281.7   567.8   507.8    72.7   113.1    92.3   137.7

  Compensation of employees, received......   149.1   219.2   354.9   365.0    57.6    84.4    65.4    93.5

    Wage and salary disbursements..........    38.1   131.8   279.4   272.7    36.5    64.1    49.2    76.1
      Private industries...................   -11.9    93.3   242.0   236.8    18.1    53.4    46.6    71.0
        Goods-producing industries.........   -33.6    -2.8    42.9    50.5      .0      .9      .9    27.4
          Manufacturing....................   -33.3    -6.6    19.1    16.7    -1.2    -1.4    -1.6    19.3
        Services-producing industries......    21.6    96.2   199.1   186.3    18.1    52.5    45.7    43.5
          Trade, transportation, and
           utilities.......................    -1.5    15.2    40.9    38.0     7.5     3.7     5.8    12.6
          Other services-producing
           industries......................    23.1    81.0   158.2   148.2    10.6    48.8    40.0    30.9
      Government...........................    50.0    38.5    37.4    35.9    18.4    10.7     2.6     5.1

    Supplements to wages and salaries......   111.0    87.4    75.5    92.3    21.1    20.3    16.3    17.3
      Employer contributions for employee
       pension and insurance funds.........   102.4    70.5    50.5    67.1    11.9    15.0    12.4    12.2
      Employer contributions for government
       social insurance....................     8.6    16.9    25.0    25.2     9.1     5.4     3.8     5.1

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    -3.5    42.9    99.8    59.6     1.0    22.5    21.9    17.3
    Farm...................................    -9.1    18.6     7.0    -6.0     3.4     8.7     1.6      .4
    Nonfarm................................     5.6    24.3    92.8    65.5    -2.3    13.8    20.3    16.8

  Rental income of persons with capital
   consumption adjustment..................   -14.5   -19.9    -6.0   -54.2     8.2    -6.9   -14.2    31.3

  Personal income receipts on assets.......   -46.8     3.4    91.3    91.5      .6     5.8     4.6     3.6
    Personal interest income...............   -74.9   -22.0   -23.3    54.2     1.3     -.1    -5.0   -12.2
    Personal dividend income...............    28.2    25.4   114.5    37.3     -.6     5.9     9.6    15.8

  Personal current transfer receipts.......    92.3    64.8    75.5   100.1    19.9    17.0    21.5     2.1
    Government social benefits to persons..   105.0    67.8    81.7    82.5    16.3    17.8    23.3     4.8
      Old-age, survivors, disability, and
       health insurance benefits...........    39.0    33.8    50.1    53.5    12.0     9.3     6.7     9.2
      Government unemployment insurance
       benefits............................    21.5     -.4   -16.8    -4.7    -2.2     3.7     -.3    -2.9
      Other................................    44.5    34.3    48.5    33.6     6.5     4.8    16.8    -1.4
    Other current transfer receipts, from
     business (net)........................   -12.7    -3.0    -6.2    17.6     3.5     -.8    -1.7    -2.7

  Less: Contributions for government social
   insurance...............................    18.9    28.6    47.8    54.2    14.5     9.6     7.1     9.8

Less: Personal current taxes...............  -185.5   -50.7    48.7   153.3   -21.1     1.0   -81.1    72.8

Equals: Disposable personal income.........   343.3   332.4   519.1   354.5    93.8   112.1   173.4    65.0

Less: Personal outlays.....................   290.8   342.4   519.5   563.7    84.0    87.3   153.3    76.5

  Personal consumption expenditures........   295.7   352.9   507.9   530.9    95.0    80.3   154.2    72.7
    Durable goods..........................    40.2    18.8    43.6    46.8   -10.0    25.8    27.1    -7.0
    Nondurable goods.......................    62.5   110.6   155.0   194.1    49.3    -3.6    61.4    12.7
    Services...............................   192.9   223.6   309.3   289.9    55.9    57.9    65.8    67.0
  Personal interest payments\1\............   -15.8   -13.9     3.5    23.4    -9.7     5.3      .2    -2.7
  Personal current transfer payments.......    11.0     3.3     8.2     9.5    -1.4     1.8    -1.1     6.5
    To government..........................     4.0     3.1     5.5     5.2      .1     1.1     1.2     1.4
    To the rest of the world (net).........     7.0      .2     2.7     4.2    -1.5      .7    -2.3     5.1

Equals: Personal saving....................    52.4    -9.8     -.6  -209.1     9.8    24.8    20.1   -11.5



Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............   228.9   167.7   280.9    93.8    32.4    94.0   119.1    32.5
-----------------------------------------------------------------------------------------------------------
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)--Continued
                            [Billions of dollars; quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
                                               I 04   II 04  III 04   IV 04    I 05   II 05  III 05   IV 05    I 06   II 06
---------------------------------------------------------------------------------------------------------------------------
Personal income............................   156.4   142.8   127.4   251.5    29.4   112.7   101.2   221.0   163.8   165.4

  Compensation of employees, received......    91.1    86.3   102.9    94.8    80.2    64.1   139.9    90.8   130.9   111.3

    Wage and salary disbursements..........    69.5    69.7    83.5    72.7    49.9    45.6   113.9    71.8   103.9    91.5
      Private industries...................    51.9    59.0    79.2    65.5    33.5    40.3   107.0    64.3    93.9    83.5
        Goods-producing industries.........    -3.1    17.2    19.7     8.5     7.5     8.6    26.4    11.0    19.5    15.3
          Manufacturing....................    -8.6     9.4    14.1     1.0    -1.2      .4    12.4     5.3    11.0     7.2
        Services-producing industries......    55.2    41.7    59.5    57.0    26.0    31.6    80.7    53.2    74.5    68.2
          Trade, transportation, and
           utilities.......................     6.9    15.7    13.6     8.5     1.9    12.2    15.1     9.4    10.8    13.9
          Other services-producing
           industries......................    48.2    26.0    45.9    48.5    24.2    19.4    65.5    43.8    63.7    54.3
      Government...........................    17.6    10.7     4.3     7.3    16.3     5.3     6.9     7.5    10.0     8.0

    Supplements to wages and salaries......    21.6    16.6    19.4    22.0    30.4    18.5    26.0    19.0    27.0    19.8
      Employer contributions for employee
       pension and insurance funds.........    11.4    12.1    13.5    16.6    21.5    14.9    17.4    14.0    15.5    13.7
      Employer contributions for government
       social insurance....................    10.2     4.4     6.0     5.5     8.8     3.6     8.6     5.0    11.5     6.1

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    36.7    32.7     4.9    26.4    11.3    13.0     1.5    29.5    11.5     9.0
    Farm...................................     5.6     1.4    -6.6     1.4     -.4    -5.2     1.0    -1.0    -4.8    -4.4
    Nonfarm................................    31.1    31.2    11.6    25.1    11.6    18.2      .6    30.4    16.3    13.4

  Rental income of persons with capital
   consumption adjustment..................    -7.5    -8.1   -19.3    10.7    -4.9   -15.7  -114.3    93.0    -4.7    -8.8

  Personal income receipts on assets.......    23.0    23.7    25.9   124.1   -75.5    36.2    32.2    47.5    22.1    47.6
    Personal interest income...............    -9.6    -3.8      .1     3.2    20.0    22.5    16.4    30.5     7.4    32.3
    Personal dividend income...............    32.7    27.4    25.8   120.9   -95.5    13.7    15.8    17.0    14.7    15.3

  Personal current transfer receipts.......    31.7    17.4    25.0     6.7    38.9    22.8    58.9   -29.2    30.6    19.5
    Government social benefits to persons..    37.3    19.3    10.2    20.3    32.8    20.9    12.0    11.6    35.2    18.9
      Old-age, survivors, disability, and
       health insurance benefits...........    20.3    12.2    10.1    11.9    23.8    12.2     4.1     6.1    55.3    18.3
      Government unemployment insurance
       benefits............................    -8.4    -7.5    -2.2    -1.0      .5    -2.1     -.5     1.4    -3.8     -.8
      Other................................    25.5    14.5     2.4     9.3     8.5    10.8     8.3     4.1   -16.2     1.5
    Other current transfer receipts, from
     business (net)........................    -5.6    -1.9    14.7   -13.6     6.2     2.0    46.8   -40.8    -4.5      .5

  Less: Contributions for government social
   insurance...............................    18.9     9.0    12.0    11.3    20.5     7.9    17.0    10.4    26.7    13.3

Less: Personal current taxes...............      .6    17.4    28.2    26.6    69.7    33.9    23.2    32.6    78.4    47.2

Equals: Disposable personal income.........   155.6   125.5    99.2   224.9   -40.3    78.8    78.0   188.4    85.4   118.2

Less: Personal outlays.....................   159.2   136.0   126.4   157.2   116.2   161.9   179.9    84.2   154.0   162.2

  Personal consumption expenditures........   162.7   130.1   116.9   149.8   104.9   154.9   172.7    80.5   151.4   149.1
    Durable goods..........................    14.1     4.7    14.7    15.5     6.7    29.2    15.0   -37.7    44.5    -3.3
    Nondurable goods.......................    55.2    43.1    27.7    57.2    37.5    58.4    76.3    28.6    44.7    64.7
    Services...............................    93.4    82.4    74.4    77.1    60.7    67.3    81.4    89.6    62.1    87.8
  Personal interest payments\1\............    -4.6     3.8     8.2     6.9     3.6     8.7     6.1      .3     3.6     9.2
  Personal current transfer payments.......     1.1     2.1     1.2      .5     7.8    -1.7     1.2     3.3     -.9     3.8
    To government..........................     1.5     1.5     1.4     1.3     1.0     1.4     1.4     1.5     1.5     1.6
    To the rest of the world (net).........     -.4      .6     -.1     -.8     6.6    -3.0     -.2     1.8    -2.4     2.1

Equals: Personal saving....................    -3.6   -10.6   -27.1    67.7  -156.4   -83.3  -101.8   104.1   -68.5   -44.0

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............    75.1    46.4    54.5   145.5   -82.2     9.2   -11.7   109.2    34.1    20.1
---------------------------------------------------------------------------------------------------------------------------
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]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                   Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
Personal income............................      .3      .3      .4      .3      .7      .4      .2      .3      .4      .5      .8      .4      .6      .5
  Compensation of employees, received......      .3      .5      .4      .3      .7      .4      .1      .4      .3      .7      .7     -.1      .8      .5
    Wage and salary disbursements..........      .2      .4      .3      .3      .7      .4      .1      .4      .3      .7      .7     -.2      .8      .5
    Supplements to wages and salaries......      .7      .7      .6      .5      .7      .5      .4      .5      .5      .6      .5      .2     1.0      .4
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     -.1     -.4      .7      .8     2.0     1.0      .6      .5     1.2      .1      .8     1.4     1.7     1.1
  Rental income of persons with capital
   consumption adjustment..................     6.4      .7     -.5    -2.5    -2.3    -3.0    -5.2    -5.5     1.2    16.5    12.8     4.5    -9.5    -1.9
  Personal income receipts on assets.......     -.2      .1      .1      .1      .2      .2      .2     -.1     -.2     -.1      .4      .6      .8      .4
    Personal interest income...............      .0      .1      .1     -.2      .1      .1      .0     -.5     -.8     -.5     -.1      .0     -.4     -.6
    Personal dividend income...............     -.6      .0      .2      .7      .6      .6      .7      .9     1.0      .9     1.6     2.0     3.1     2.3
  Personal current transfer receipts.......      .5      .2      .7      .3      .3      .7      .5      .4      .5     -.8      .3      .9      .9      .9

  Less: Contributions for government social
   insurance...............................     1.4      .4      .4      .3      .6      .4      .1      .4      .3      .6      .6     -.2     1.9      .4

Less: Personal current taxes...............    -1.8      .0      .0     -.6      .7      .7    -9.3    -4.8    12.8      .7      .7      .0     -.7      .5

Equals: Disposable personal income.........      .5      .3      .4      .4      .7      .4     1.4      .9    -1.0      .5      .8      .4      .8      .6

Addenda:
  Personal consumption expenditures........      .3      .1      .8      .1      .3      .7      .7     1.3     -.2      .1      .7      .2     1.2      .4
    Durable goods..........................    -2.3    -3.0     1.6     2.3      .2      .8     1.2     3.2    -3.0     -.5     1.7    -1.1      .5     1.1
    Nondurable goods.......................      .9     1.0     1.3    -1.4     -.7     1.5      .7     1.9      .1     -.5      .7     -.2     1.7     -.1
    Services...............................      .6      .4      .3      .4      .8      .2      .6      .6      .2      .5      .5      .7     1.0      .4
                                           ----------------------------------------------------------------------------------------------------------------
                                                                               Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
  Real disposable personal income..........      .3     -.1      .1      .6      .7      .3     1.2      .5    -1.2      .5      .8      .2      .4      .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------

                          Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
                                                       [Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                   Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
Personal income............................      .5      .5      .7      .2      .6      .5      .1      .9      .3     3.5    -2.3      .3      .2      .5
  Compensation of employees, received......      .4      .5      .7      .0      .9      .4      .5      .7      .1      .4      .6      .2      .2      .5
    Wage and salary disbursements..........      .4      .5      .7      .0      .9      .4      .5      .7      .1      .4      .5      .2      .1      .5
    Supplements to wages and salaries......      .4      .5      .5      .3      .6      .5      .5      .7      .5      .6     1.3      .5      .5      .5
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     1.9     1.0     1.2      .7      .0     -.2     -.6     2.6      .7     1.0     -.1      .2      .7      .1
  Rental income of persons with capital
   consumption adjustment..................    -2.0    -2.2    -1.8    -1.6     -.7    -4.8   -29.5    44.7    -1.3    -1.5      .1    -2.4    -3.3    -6.8
  Personal income receipts on assets.......      .4      .6      .7      .7      .6      .5      .4      .6      .6    21.4   -16.7      .5      .6      .9
    Personal interest income...............     -.5      .0      .1      .1      .0     -.1     -.2      .1      .4      .6     1.0      .7      .6      .8
    Personal dividend income...............     2.1     1.7     1.8     1.8     1.7     1.6     1.5     1.6     1.0    55.1   -35.3      .2      .6     1.2
  Personal current transfer receipts.......      .2      .4      .5      .3     -.2     1.8     1.4    -1.5      .5      .3     1.7      .8      .2      .9

  Less: Contributions for government social
   insurance...............................      .3      .4      .7      .0      .8      .4      .4      .7      .1      .4     1.8      .3      .2      .4

Less: Personal current taxes...............      .4      .6      .9      .3     1.4      .8      .9     1.0      .5      .7     5.1      .6      .7     1.6

Equals: Disposable personal income.........      .5      .5      .6      .2      .5      .5      .1      .9      .3     3.8    -3.2      .3      .2      .3

Addenda:
  Personal consumption expenditures........      .8      .2     1.4     -.4      .9      .1      .8      .7      .5      .6      .1      .6      .6     1.0
    Durable goods..........................     1.3    -1.3     3.3    -4.5     3.6    -1.5     3.2     -.9      .2     2.3    -1.6      .4     1.3     3.2
    Nondurable goods.......................     2.0     -.6     1.8     -.1      .3      .0     1.0     1.6      .2      .2      .5     1.1      .2     2.1
    Services...............................      .1      .9      .8      .3      .7      .5      .3      .6      .6      .4      .2      .4      .6      .0
                                           ----------------------------------------------------------------------------------------------------------------
                                                                               Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
  Real disposable personal income..........      .1      .3      .2      .0      .4      .4     -.1      .4      .1     3.8    -3.4      .0     -.2      .0
-----------------------------------------------------------------------------------------------------------------------------------------------------------

                          Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
                                                       [Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                   Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
Personal income............................      .3      .5      .8    -1.8     2.9      .5      .2      .5      .8      .3      .4      .7      .4      .6
  Compensation of employees, received......      .2      .5     1.2      .3      .6      .6      .0      .5     1.0      .5      .4      .9      .1      .6
    Wage and salary disbursements..........      .1      .5     1.3      .3      .6      .6      .0      .5     1.0      .5      .4      .9      .0      .6
    Supplements to wages and salaries......      .4      .5      .9      .5      .6      .4      .3      .5     1.1      .4      .4      .6      .3      .5
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................      .4     1.5      .5    -5.7     7.5     -.1      .2      .6      .5     -.1      .7      .0      .7      .1
  Rental income of persons with capital
   consumption adjustment..................    -4.2    -3.8    -2.4   .....   .....    -2.7     4.8    -4.0    -3.1    -2.6      .7    -5.3    -5.7    -7.4
  Personal income receipts on assets.......      .9      .9      .6      .6      .6     1.3     1.2     1.2      .1      .1      .1     1.4     1.4     1.5
    Personal interest income...............     1.0     1.0      .4      .4      .4     1.4     1.4     1.3     -.3     -.3     -.3     1.8     1.8     1.7
    Personal dividend income...............      .8      .9     1.0     1.0      .9     1.0     1.0     1.0      .8      .7      .8      .8      .9     1.0
  Personal current transfer receipts.......      .3      .0     -.3    10.0    -7.1      .3     -.6     -.1     2.0      .2      .5      .3      .7      .4

  Less: Contributions for government social
   insurance...............................      .2      .4     1.2      .3      .5      .6      .0      .4     2.2      .5      .3      .8      .0      .5

Less: Personal current taxes...............      .6      .7      .6      .5      .9     1.0      .7     1.3     4.1     1.1      .9     1.9      .5     1.0

Equals: Disposable personal income.........      .2      .5      .8    -2.1     3.2      .5      .1      .4      .4      .2      .3      .6      .4      .6

Addenda:
  Personal consumption expenditures........     -.1      .9     1.3     -.1      .6      .3      .1      .4      .9      .5      .5      .6      .6      .4
    Durable goods..........................    -4.0     4.6     5.3    -6.5    -2.7    -1.8     2.7     1.5     3.0    -1.3     1.1     -.2     -.7      .3
    Nondurable goods.......................     -.5      .4     1.2     1.4     2.3      .6    -2.2      .0     2.4      .0      .4     1.5      .9      .4
    Services...............................      .9      .5      .5      .5      .5      .6      .7      .4     -.3     1.1      .4      .4      .6      .4
                                           ----------------------------------------------------------------------------------------------------------------
                                                                               Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------------------------------
  Real disposable personal income..........      .2      .5      .4    -2.5     2.2      .3      .5      .4     -.1      .1      .0      .1      .0      .4
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.

 Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
                              [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------
                                               2002    2003    2004    2005    I 03   II 03  III 03   IV 03
-----------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------
                                                           Based on current-dollar measures
                                           ----------------------------------------------------------------
Personal income............................     1.8     3.2     6.2     5.2     3.3     5.1     4.1     6.1
  Compensation of employees, received......     2.5     3.6     5.6     5.5     3.8     5.6     4.2     6.0
    Wage and salary disbursements..........      .8     2.6     5.5     5.1     3.0     5.2     3.9     6.1
    Supplements to wages and salaries......    11.1     7.9     6.3     7.3     7.6     7.1     5.6     5.9
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     -.5     5.6    12.3     6.5      .5    12.0    11.4     8.6
  Rental income of persons with capital
   consumption adjustment..................    -8.6   -13.1    -4.5   -42.7    28.0   -18.7   -36.8   159.2
  Personal income receipts on assets.......    -3.4      .3     6.8     6.4      .2     1.8     1.4     1.1
    Personal interest income...............    -7.4    -2.3    -2.5     6.1      .5      .0    -2.2    -5.2
    Personal dividend income...............     7.7     6.4    27.1     7.0     -.7     5.9     9.6    15.7
  Personal current transfer receipts.......     7.7     5.0     5.6     7.0     6.2     5.2     6.6      .6

  Less: Contributions for government social
   insurance...............................     2.6     3.8     6.1     6.6     8.0     5.1     3.7     5.1

Less: Personal current taxes...............   -15.0    -4.8     4.9    14.6    -7.8      .4   -28.1    34.6

Equals: Disposable personal income.........     4.6     4.2     6.4     4.1     4.8     5.7     8.9     3.2

Addenda:
  Personal consumption expenditures........     4.2     4.8     6.6     6.5     5.2     4.3     8.3     3.8
    Durable goods..........................     4.6     2.0     4.6     4.7    -4.3    11.9    12.1    -2.9
    Nondurable goods.......................     3.1     5.3     7.1     8.3     9.7     -.7    11.9     2.3
    Services...............................     4.6     5.1     6.8     5.9     5.1     5.3     5.9     5.9
                                           ----------------------------------------------------------------
                                                       Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------
  Real disposable personal income..........     3.1     2.2     3.6     1.2     1.7     5.0     6.3     1.7
-----------------------------------------------------------------------------------------------------------

    Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)--Continued
                                      [Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
                                               I 04   II 04  III 04   IV 04    I 05   II 05  III 05   IV 05    I 06   II 06
---------------------------------------------------------------------------------------------------------------------------
                                           --------------------------------------------------------------------------------
                                                                   Based on current-dollar measures
                                           --------------------------------------------------------------------------------
Personal income............................     6.9     6.2     5.4    10.7     1.2     4.6     4.0     8.9     6.4     6.4
  Compensation of employees, received......     5.8     5.4     6.4     5.8     4.8     3.8     8.3     5.2     7.5     6.2
    Wage and salary disbursements..........     5.4     5.4     6.4     5.5     3.7     3.3     8.4     5.1     7.4     6.4
    Supplements to wages and salaries......     7.3     5.4     6.3     7.1     9.6     5.7     7.9     5.6     8.0     5.7
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    18.7    15.7     2.2    12.1     4.8     5.6      .6    12.7     4.7     3.6
  Rental income of persons with capital
   consumption adjustment..................   -18.9   -21.2   -46.9    43.9   -15.1   -43.3   .....   .....   -21.2   -38.6
  Personal income receipts on assets.......     7.0     7.1     7.7    39.9   -18.2    10.3     8.9    13.0     5.7    12.4
    Personal interest income...............    -4.2    -1.7      .0     1.5     9.3    10.2     7.2    13.5     3.0    13.7
    Personal dividend income...............    33.1    25.3    22.3   128.5   -47.2    10.4    11.7    12.2    10.2    10.4
  Personal current transfer receipts.......     9.6     5.0     7.3     1.9    11.2     6.3    16.5    -7.3     8.2     5.1

  Less: Contributions for government social
   insurance...............................     9.9     4.5     6.0     5.5    10.1     3.7     8.0     4.8    12.4     5.9

Less: Personal current taxes...............      .3     7.0    11.4    10.4    28.2    12.2     8.0    11.2    27.6    15.0

Equals: Disposable personal income.........     7.7     6.0     4.7    10.7    -1.8     3.6     3.5     8.6     3.8     5.2

Addenda:
  Personal consumption expenditures........     8.5     6.6     5.9     7.4     5.1     7.5     8.2     3.7     7.0     6.7
    Durable goods..........................     6.0     1.9     6.2     6.4     2.7    12.1     5.9   -13.5    18.6    -1.3
    Nondurable goods.......................    10.3     7.7     4.9    10.1     6.4     9.9    12.7     4.5     7.0    10.1
    Services...............................     8.2     7.1     6.3     6.4     5.0     5.4     6.5     7.1     4.8     6.7
                                           --------------------------------------------------------------------------------
                                                               Based on chained (2000) dollar measures
                                           --------------------------------------------------------------------------------
  Real disposable personal income..........     3.9     2.4     2.8     7.5    -4.0      .5     -.6     5.5     1.7     1.0
---------------------------------------------------------------------------------------------------------------------------

                                        Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Dec 02  Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ------------------------------------------------------------------------------------------------------------------------
                                                                                     Billions of chained (2000) dollars,
                                                                                     seasonally adjusted at annual rates
                                           ------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,188.4 7,192.2 7,168.5 7,194.2 7,218.1 7,245.2 7,284.5 7,319.1 7,388.0 7,351.4 7,358.0 7,413.5 7,411.4 7,468.0 7,468.8
  Durable goods............................ 1,001.7   983.1   957.1   974.1   999.9 1,009.1 1,020.5 1,034.9 1,070.6 1,043.3 1,040.7 1,061.3 1,052.1 1,055.5 1,066.3
  Nondurable goods......................... 2,059.4 2,068.8 2,066.6 2,082.1 2,074.2 2,075.8 2,102.5 2,110.0 2,134.6 2,124.3 2,122.2 2,143.2 2,131.9 2,156.0 2,141.3
  Services................................. 4,132.7 4,143.8 4,145.4 4,140.6 4,149.2 4,165.9 4,168.8 4,182.8 4,195.9 4,193.2 4,203.7 4,220.2 4,236.4 4,265.4 4,271.4
                                           ------------------------------------------------------------------------------------------------------------------------
                                                                     Change from preceding period in billions of chained (2000) dollars,
                                                                                     seasonally adjusted at annual rates
                                           ------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........    49.6     3.8   -23.7    25.7    23.9    27.1    39.3    34.6    68.9   -36.6     6.6    55.5    -2.1    56.6      .8
  Durable goods............................    41.3   -18.6   -26.0    17.0    25.8     9.2    11.4    14.4    35.7   -27.3    -2.6    20.6    -9.2     3.4    10.8
  Nondurable goods.........................     5.1     9.4    -2.2    15.5    -7.9     1.6    26.7     7.5    24.6   -10.3    -2.1    21.0   -11.3    24.1   -14.7
  Services.................................     6.6    11.1     1.6    -4.8     8.6    16.7     2.9    14.0    13.1    -2.7    10.5    16.5    16.2    29.0     6.0
                                           ------------------------------------------------------------------------------------------------------------------------
                                                                       Percent change from preceding period in chained (2000) dollars,
                                                                                     seasonally adjusted at monthly rates
                                           ------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........      .7      .1     -.3      .4      .3      .4      .5      .5      .9     -.5      .1      .8      .0      .8      .0
  Durable goods............................     4.3    -1.9    -2.6     1.8     2.7      .9     1.1     1.4     3.4    -2.5     -.3     2.0     -.9      .3     1.0
  Nondurable goods.........................      .2      .5     -.1      .7     -.4      .1     1.3      .4     1.2     -.5     -.1     1.0     -.5     1.1     -.7
  Services.................................      .2      .3      .0     -.1      .2      .4      .1      .3      .3     -.1      .3      .4      .4      .7      .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------

                               Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                 Billions of chained (2000) dollars,
                                                                                 seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,502.8 7,505.5 7,574.7 7,522.9 7,587.0 7,590.6 7,643.7 7,658.6 7,678.0 7,724.6 7,720.3 7,744.2 7,753.7 7,803.9
  Durable goods............................ 1,079.2 1,064.4 1,099.6 1,050.3 1,090.8 1,078.6 1,112.4 1,099.9 1,102.8 1,128.0 1,107.5 1,114.1 1,128.8 1,165.4
  Nondurable goods......................... 2,168.6 2,156.8 2,172.5 2,163.6 2,176.2 2,177.4 2,198.3 2,205.7 2,209.8 2,224.0 2,238.0 2,250.7 2,235.9 2,265.0
  Services................................. 4,267.7 4,293.5 4,316.6 4,315.2 4,332.0 4,344.2 4,348.2 4,365.4 4,377.8 4,389.0 4,387.8 4,393.3 4,405.0 4,396.5
                                           ----------------------------------------------------------------------------------------------------------------
                                                                 Change from preceding period in billions of chained (2000) dollars,
                                                                                 seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........    34.0     2.7    69.2   -51.8    64.1     3.6    53.1    14.9    19.4    46.6    -4.3    23.9     9.5    50.2
  Durable goods............................    12.9   -14.8    35.2   -49.3    40.5   -12.2    33.8   -12.5     2.9    25.2   -20.5     6.6    14.7    36.6
  Nondurable goods.........................    27.3   -11.8    15.7    -8.9    12.6     1.2    20.9     7.4     4.1    14.2    14.0    12.7   -14.8    29.1
  Services.................................    -3.7    25.8    23.1    -1.4    16.8    12.2     4.0    17.2    12.4    11.2    -1.2     5.5    11.7    -8.5
                                           ----------------------------------------------------------------------------------------------------------------
                                                                   Percent change from preceding period in chained (2000) dollars,
                                                                                 seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........      .5      .0      .9     -.7      .9      .0      .7      .2      .3      .6     -.1      .3      .1      .6
  Durable goods............................     1.2    -1.4     3.3    -4.5     3.9    -1.1     3.1    -1.1      .3     2.3    -1.8      .6     1.3     3.2
  Nondurable goods.........................     1.3     -.5      .7     -.4      .6      .1     1.0      .3      .2      .6      .6      .6     -.7     1.3
  Services.................................     -.1      .6      .5      .0      .4      .3      .1      .4      .3      .3      .0      .1      .3     -.2
-----------------------------------------------------------------------------------------------------------------------------------------------------------

                               Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                 Billions of chained (2000) dollars,
                                                                                 seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,792.2 7,863.3 7,929.6 7,889.2 7,867.2 7,875.3 7,909.6 7,945.8 7,977.5 8,011.3 8,022.6 8,037.4 8,052.4 8,069.3
  Durable goods............................ 1,116.4 1,170.7 1,237.4 1,161.1 1,129.2 1,109.6 1,142.2 1,161.8 1,195.2 1,181.0 1,195.2 1,192.0 1,184.3 1,190.8
  Nondurable goods......................... 2,263.3 2,277.0 2,281.2 2,289.4 2,292.2 2,312.9 2,305.3 2,310.5 2,343.3 2,346.4 2,338.6 2,347.5 2,351.3 2,358.4
  Services................................. 4,425.4 4,438.1 4,446.0 4,458.4 4,459.1 4,461.7 4,476.9 4,491.6 4,465.4 4,505.3 4,512.8 4,520.8 4,537.2 4,541.7
                                           ----------------------------------------------------------------------------------------------------------------
                                                                 Change from preceding period in billions of chained (2000) dollars,
                                                                                 seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........   -11.7    71.1    66.3   -40.4   -22.0     8.1    34.3    36.2    31.7    33.8    11.3    14.8    15.0    16.9
  Durable goods............................   -49.0    54.3    66.7   -76.3   -31.9   -19.6    32.6    19.6    33.4   -14.2    14.2    -3.2    -7.7     6.5
  Nondurable goods.........................    -1.7    13.7     4.2     8.2     2.8    20.7    -7.6     5.2    32.8     3.1    -7.8     8.9     3.8     7.1
  Services.................................    28.9    12.7     7.9    12.4      .7     2.6    15.2    14.7   -26.2    39.9     7.5     8.0    16.4     4.5
                                           ----------------------------------------------------------------------------------------------------------------
                                                                   Percent change from preceding period in chained (2000) dollars,
                                                                                 seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures..........     -.1      .9      .8     -.5     -.3      .1      .4      .5      .4      .4      .1      .2      .2      .2
  Durable goods............................    -4.2     4.9     5.7    -6.2    -2.7    -1.7     2.9     1.7     2.9    -1.2     1.2     -.3     -.6      .5
  Nondurable goods.........................     -.1      .6      .2      .4      .1      .9     -.3      .2     1.4      .1     -.3      .4      .2      .3
  Services.................................      .7      .3      .2      .3      .0      .1      .3      .3     -.6      .9      .2      .2      .4      .1
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.

          Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
                                  [Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------
                                               2002    2003    2004    2005   IV 02    I 03   II 03  III 03   IV 03
-------------------------------------------------------------------------------------------------------------------
                                           ------------------------------------------------------------------------
                                                              Billions of chained (2000) dollars
                                           ------------------------------------------------------------------------
Personal consumption expenditures.......... 7,099.3 7,295.3 7,577.1 7,841.2 7,148.2 7,184.9 7,249.3 7,352.9 7,394.3
  Durable goods............................   964.8 1,020.6 1,085.7 1,145.3   970.4   971.4 1,009.8 1,049.6 1,051.4
  Nondurable goods......................... 2,037.1 2,103.0 2,179.2 2,276.8 2,053.1 2,072.5 2,084.2 2,123.0 2,132.5
  Services................................. 4,100.4 4,178.8 4,323.9 4,436.6 4,127.4 4,143.3 4,161.3 4,190.7 4,220.2
                                           ------------------------------------------------------------------------
                                                               Change from preceding period in
                                                              billions of chained (2000) dollars
                                           ------------------------------------------------------------------------
Personal consumption expenditures..........   188.9   196.0   281.8   264.1    25.0    36.7    64.4   103.6    41.4
  Durable goods............................    64.1    55.8    65.1    59.6   -13.0     1.0    38.4    39.8     1.8
  Nondurable goods.........................    50.4    65.9    76.2    97.6    18.1    19.4    11.7    38.8     9.5
  Services.................................    77.2    78.4   145.1   112.7    18.4    15.9    18.0    29.4    29.5
                                           ------------------------------------------------------------------------
                                                             Percent change from preceding period
                                                                  in chained (2000) dollars
                                           ------------------------------------------------------------------------
Personal consumption expenditures..........     2.7     2.8     3.9     3.5     1.4     2.1     3.6     5.8     2.3
  Durable goods............................     7.1     5.8     6.4     5.5    -5.2      .4    16.8    16.7      .7
  Nondurable goods.........................     2.5     3.2     3.6     4.5     3.6     3.8     2.3     7.7     1.8
  Services.................................     1.9     1.9     3.5     2.6     1.8     1.5     1.8     2.9     2.8
-------------------------------------------------------------------------------------------------------------------

         Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Continued
                                      [Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
                                               I 04   II 04  III 04   IV 04    I 05   II 05  III 05   IV 05    I 06   II 06
---------------------------------------------------------------------------------------------------------------------------
                                           --------------------------------------------------------------------------------
                                                                  Billions of chained (2000) dollars
                                           --------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,479.8 7,534.4 7,607.1 7,687.1 7,739.4 7,819.8 7,895.3 7,910.2 8,003.8 8,053.0
  Durable goods............................ 1,067.0 1,071.4 1,093.9 1,110.3 1,116.8 1,150.8 1,175.9 1,137.9 1,190.5 1,189.1
  Nondurable goods......................... 2,155.3 2,164.3 2,184.0 2,213.1 2,241.5 2,268.4 2,287.6 2,309.6 2,342.8 2,352.4
  Services................................. 4,268.2 4,308.4 4,341.5 4,377.4 4,395.3 4,420.0 4,454.5 4,476.7 4,494.5 4,533.2
                                           --------------------------------------------------------------------------------
                                                                   Change from preceding period in
                                                                  billions of chained (2000) dollars
                                           --------------------------------------------------------------------------------
Personal consumption expenditures..........    85.5    54.6    72.7    80.0    52.3    80.4    75.5    14.9    93.6    49.2
  Durable goods............................    15.6     4.4    22.5    16.4     6.5    34.0    25.1   -38.0    52.6    -1.4
  Nondurable goods.........................    22.8     9.0    19.7    29.1    28.4    26.9    19.2    22.0    33.2     9.6
  Services.................................    48.0    40.2    33.1    35.9    17.9    24.7    34.5    22.2    17.8    38.7
                                           --------------------------------------------------------------------------------
                                                                 Percent change from preceding period
                                                                      in chained (2000) dollars
                                           --------------------------------------------------------------------------------
Personal consumption expenditures..........     4.7     2.9     3.9     4.3     2.7     4.2     3.9      .8     4.8     2.5
  Durable goods............................     6.1     1.7     8.7     6.1     2.4    12.8     9.0   -12.3    19.8     -.5
  Nondurable goods.........................     4.3     1.7     3.7     5.4     5.2     4.9     3.4     3.9     5.9     1.7
  Services.................................     4.6     3.8     3.1     3.4     1.6     2.3     3.2     2.0     1.6     3.5
---------------------------------------------------------------------------------------------------------------------------

                      Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Dec 02  Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ------------------------------------------------------------------------------------------------------------------------
                                                                                     Chain-type price indexes (2000=100),
                                                                                             seasonally adjusted
                                           ------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 104.357 104.591 105.085 105.500 105.256 105.167 105.281 105.529 105.866 106.158 106.180 106.144 106.401 106.833 107.199
  Durable goods............................  94.506  94.054  93.745  93.586  93.301  92.681  92.373  92.153  91.902  91.489  91.259  91.047  90.806  90.987  91.049
  Nondurable goods......................... 102.794 103.213 104.374 104.940 103.887 103.080 103.301 103.700 104.484 105.087 104.645 104.321 104.707 105.352 105.960
  Services................................. 107.380 107.685 108.036 108.508 108.682 109.081 109.244 109.531 109.791 110.102 110.421 110.574 110.890 111.275 111.593
Addenda:
  PCE excluding food and energy............ 104.378 104.474 104.582 104.710 104.808 104.943 105.014 105.251 105.394 105.508 105.704 105.777 105.938 106.218 106.436
  Market-based PCE\1\...................... 103.870 104.106 104.615 105.036 104.740 104.587 104.683 104.927 105.256 105.532 105.496 105.365 105.593 105.992 106.329
  Market-based PCE excluding food
   and energy\1\........................... 103.766 103.837 103.885 103.962 104.064 104.164 104.205 104.436 104.530 104.587 104.745 104.721 104.826 105.033 105.184
                                           ------------------------------------------------------------------------------------------------------------------------
                                                                             Percent change from preceding period price indexes,
                                                                                     seasonally adjusted at monthly rates
                                           ------------------------------------------------------------------------------------------------------------------------
PCE........................................      .1      .2      .5      .4     -.2     -.1      .1      .2      .3      .3      .0      .0      .2      .4      .3
  Durable goods............................     -.5     -.5     -.3     -.2     -.3     -.7     -.3     -.2     -.3     -.4     -.3     -.2     -.3      .2      .1
  Nondurable goods.........................      .0      .4     1.1      .5    -1.0     -.8      .2      .4      .8      .6     -.4     -.3      .4      .6      .6
  Services.................................      .2      .3      .3      .4      .2      .4      .1      .3      .2      .3      .3      .1      .3      .3      .3
Addenda:
  PCE excluding food and energy............      .1      .1      .1      .1      .1      .1      .1      .2      .1      .1      .2      .1      .2      .3      .2
  Market-based PCE\1\......................      .1      .2      .5      .4     -.3     -.1      .1      .2      .3      .3      .0     -.1      .2      .4      .3
  Market-based PCE excluding food
   and energy\1\...........................      .0      .1      .0      .1      .1      .1      .0      .2      .1      .1      .2      .0      .1      .2      .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
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 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                 Chain-type price indexes (2000=100),
                                                                                         seasonally adjusted
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 107.575 107.750 108.219 108.495 108.555 108.645 108.774 109.319 109.554 109.555 109.713 110.036 110.524 110.908
  Durable goods............................  91.094  91.129  91.089  91.097  90.829  90.441  90.474  90.675  90.628  90.644  90.824  90.664  90.638  90.562
  Nondurable goods......................... 106.728 106.696 107.833 108.156 107.890 107.851 107.854 109.162 109.180 108.748 108.629 109.196 110.149 111.002
  Services................................. 111.852 112.166 112.424 112.742 113.048 113.322 113.539 113.784 114.199 114.416 114.710 115.029 115.408 115.671
Addenda:
  PCE excluding food and energy............ 106.699 106.924 107.099 107.294 107.420 107.520 107.705 107.977 108.196 108.279 108.571 108.760 109.031 109.119
  Market-based PCE\1\...................... 106.695 106.817 107.293 107.557 107.573 107.617 107.687 108.253 108.466 108.436 108.579 108.892 109.391 109.808
  Market-based PCE excluding food
   and energy\1\........................... 105.413 105.580 105.706 105.868 105.953 105.997 106.119 106.361 106.551 106.611 106.910 107.060 107.301 107.371
                                           ----------------------------------------------------------------------------------------------------------------
                                                                         Percent change from preceding period price indexes,
                                                                                 seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------------------------------
PCE........................................      .4      .2      .4      .3      .1      .1      .1      .5      .2      .0      .1      .3      .4      .3
  Durable goods............................      .0      .0      .0      .0     -.3     -.4      .0      .2     -.1      .0      .2     -.2      .0     -.1
  Nondurable goods.........................      .7      .0     1.1      .3     -.2      .0      .0     1.2      .0     -.4     -.1      .5      .9      .8
  Services.................................      .2      .3      .2      .3      .3      .2      .2      .2      .4      .2      .3      .3      .3      .2
Addenda:
  PCE excluding food and energy............      .2      .2      .2      .2      .1      .1      .2      .3      .2      .1      .3      .2      .2      .1
  Market-based PCE\1\......................      .3      .1      .4      .2      .0      .0      .1      .5      .2      .0      .1      .3      .5      .4
  Market-based PCE excluding food
   and energy\1\...........................      .2      .2      .1      .2      .1      .0      .1      .2      .2      .1      .3      .1      .2      .1
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------------------------------
                                                                                 Chain-type price indexes (2000=100),
                                                                                         seasonally adjusted
                                           ----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 110.948 110.964 111.412 111.875 112.912 113.167 112.737 112.715 113.258 113.340 113.737 114.253 114.678 114.877
  Durable goods............................  90.708  90.439  90.085  89.790  89.850  89.805  89.579  89.432  89.501  89.389  89.264  89.292  89.280  89.052
  Nondurable goods......................... 110.530 110.280 111.389 112.594 115.064 114.689 112.548 112.294 113.351 113.150 113.953 115.209 116.014 116.080
  Services................................. 115.946 116.169 116.489 116.770 117.317 117.968 118.371 118.505 118.900 119.180 119.502 119.759 120.100 120.479
Addenda:
  PCE excluding food and energy............ 109.347 109.429 109.549 109.693 109.954 110.237 110.442 110.574 110.758 110.928 111.264 111.514 111.771 112.038
  Market-based PCE\1\...................... 109.806 109.790 110.267 110.748 111.842 112.037 111.482 111.423 111.971 111.988 112.390 112.933 113.380 113.522
  Market-based PCE excluding food
   and energy\1\........................... 107.582 107.638 107.730 107.829 108.004 108.217 108.397 108.512 108.629 108.735 109.065 109.294 109.544 109.754
                                           ----------------------------------------------------------------------------------------------------------------
                                                                         Percent change from preceding period price indexes,
                                                                                 seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------------------------------
PCE........................................      .0      .0      .4      .4      .9      .2     -.4      .0      .5      .1      .4      .5      .4      .2
  Durable goods............................      .2     -.3     -.4     -.3      .1     -.1     -.3     -.2      .1     -.1     -.1      .0      .0     -.3
  Nondurable goods.........................     -.4     -.2     1.0     1.1     2.2     -.3    -1.9     -.2      .9     -.2      .7     1.1      .7      .1
  Services.................................      .2      .2      .3      .2      .5      .6      .3      .1      .3      .2      .3      .2      .3      .3
Addenda:
  PCE excluding food and energy............      .2      .1      .1      .1      .2      .3      .2      .1      .2      .2      .3      .2      .2      .2
  Market-based PCE\1\......................      .0      .0      .4      .4     1.0      .2     -.5     -.1      .5      .0      .4      .5      .4      .1
  Market-based PCE excluding food
   and energy\1\...........................      .2      .1      .1      .1      .2      .2      .2      .1      .1      .1      .3      .2      .2      .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
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
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Dec 02  Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................     2.7      .9      .4      .4      .9     1.5     1.6     3.1     4.0     2.8     3.2     4.0     3.9     4.0     4.3

Personal consumption expenditures..........     2.6     2.4     1.6     2.1     1.8     2.6     2.6     2.5     3.5     3.6     3.4     3.8     3.1     3.8     4.2
  Durable goods............................     9.4     4.8     -.2     2.7     2.3     7.8     6.6     4.8     6.7     8.8     9.6    10.5     5.0     7.4    11.4
  Nondurable goods.........................     1.6     2.1     1.9     2.8     2.1     2.5     2.9     3.4     5.0     4.5     3.7     4.3     3.5     4.2     3.6
  Services.................................     1.7     2.1     1.8     1.6     1.5     1.6     1.7     1.6     2.2     2.1     1.9     2.3     2.5     2.9     3.0
-------------------------------------------------------------------------------------------------------------------------------------------------------------------

         Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................     4.4     4.0     3.5     3.1     2.4     2.2     3.4     3.4     2.6     6.3     2.3     2.1     1.8     1.4

Personal consumption expenditures..........     4.3     4.0     4.5     3.3     3.7     2.7     4.0     4.1     3.6     4.2     3.4     3.7     3.3     4.0
  Durable goods............................    10.8     6.5     9.0     2.9     5.4      .7     6.6     5.7     3.9     7.2     4.9     4.5     4.6     9.5
  Nondurable goods.........................     4.2     4.0     4.7     2.9     3.1     2.0     3.5     3.9     3.1     4.3     3.8     5.1     3.1     5.0
  Services.................................     3.1     3.5     3.6     3.5     3.6     3.5     3.7     3.8     3.7     3.6     2.9     2.9     3.2     2.4
-----------------------------------------------------------------------------------------------------------------------------------------------------------

         Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................     1.4     2.0     2.0    -1.0     1.3     1.1     1.6    -1.7     1.6     1.7     1.9     2.0     1.8     1.7

Personal consumption expenditures..........     2.9     4.5     4.5     3.9     2.9     2.8     3.0     2.9     3.3     3.4     3.5     3.0     3.3     2.6
  Durable goods............................     1.5    11.5    13.4     7.6     1.5      .9     3.6     3.0     7.9     6.0     5.9     2.3     6.1     1.7
  Nondurable goods.........................     4.2     5.2     4.8     5.1     4.3     4.9     4.3     3.9     4.7     4.3     4.6     3.6     3.9     3.6
  Services.................................     2.5     2.8     2.6     2.6     2.5     2.2     2.3     2.3     1.8     2.5     2.4     2.8     2.5     2.3
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.

                              Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Dec 02  Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....     2.0     2.1     2.4     2.5     1.8     1.8     1.8     1.8     1.9     2.0     1.9     1.8     2.0     2.1     2.0
  Durable goods............................    -2.8    -3.0    -2.7    -2.7    -3.0    -3.6    -3.6    -3.7    -3.8    -4.2    -4.3    -4.1    -3.9    -3.3    -2.9
  Nondurable goods.........................     2.6     2.7     3.6     3.5     1.3     1.0     1.1     1.4     1.9     2.4     1.9     1.5     1.9     2.1     1.5
  Services.................................     2.7     2.9     2.9     3.2     3.1     3.3     3.2     3.2     3.2     3.2     3.3     3.2     3.3     3.3     3.3
Addenda:
  PCE excluding food and energy............     1.6     1.6     1.5     1.5     1.3     1.4     1.4     1.4     1.3     1.3     1.4     1.4     1.5     1.7     1.8
  Market-based PCE\1\......................     1.9     2.0     2.4     2.5     1.7     1.6     1.7     1.7     1.8     1.9     1.7     1.5     1.7     1.8     1.6
  Market-based PCE excluding food
   and energy\1\...........................     1.3     1.4     1.3     1.3     1.1     1.2     1.1     1.2     1.1      .9     1.1     1.0     1.0     1.2     1.3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
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 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....     2.0     2.4     2.9     3.1     2.9     2.6     2.5     3.0     3.2     3.0     2.7     2.6     2.7     2.9
  Durable goods............................    -2.7    -2.3    -1.7    -1.4    -1.4    -1.6    -1.1     -.6     -.5     -.2     -.2     -.4     -.5     -.6
  Nondurable goods.........................     1.7     2.7     4.6     4.7     4.0     3.2     2.6     4.3     4.7     3.9     3.1     3.1     3.2     4.0
  Services.................................     3.1     3.2     3.1     3.2     3.2     3.2     3.1     3.0     3.3     3.2     3.1     3.1     3.2     3.1
Addenda:
  PCE excluding food and energy............     1.9     2.0     2.1     2.2     2.1     2.0     2.1     2.2     2.3     2.2     2.2     2.2     2.2     2.1
  Market-based PCE\1\......................     1.6     2.0     2.6     2.7     2.5     2.2     2.0     2.6     2.9     2.7     2.4     2.4     2.5     2.8
  Market-based PCE excluding food
   and energy\1\...........................     1.4     1.5     1.5     1.6     1.5     1.4     1.5     1.5     1.7     1.7     1.8     1.8     1.8     1.7
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
                                             May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....     2.5     2.3     2.6     3.0     3.8     3.5     2.9     2.9     3.2     3.0     2.9     3.0     3.4     3.5
  Durable goods............................     -.4     -.7     -.8     -.7     -.7    -1.0    -1.2    -1.3    -1.5    -1.4    -1.5    -1.4    -1.6    -1.5
  Nondurable goods.........................     2.5     2.0     3.2     4.4     6.7     5.1     3.1     3.3     4.3     3.6     3.5     3.8     5.0     5.3
  Services.................................     3.1     3.0     3.0     3.0     3.3     3.7     3.7     3.6     3.7     3.6     3.5     3.5     3.6     3.7
Addenda:
  PCE excluding food and energy............     2.1     2.0     2.0     2.0     2.1     2.1     2.1     2.1     2.0     2.0     2.0     2.2     2.2     2.4
  Market-based PCE\1\......................     2.3     2.1     2.5     2.9     3.9     3.5     2.8     2.8     3.1     2.8     2.7     2.8     3.3     3.4
  Market-based PCE excluding food
   and energy\1\...........................     1.8     1.7     1.7     1.7     1.8     1.7     1.7     1.8     1.6     1.6     1.6     1.8     1.8     2.0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
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 12.--Revisions to Personal Income and Its Disposition
-------------------------------------------------------------------------------------------------------------------------------------
                                                                   Billions of dollars
                                                 ------------------------      ------------------------           Revisions as a
                                                          Revised                   Revisions to                   percentage of
                                                         estimates                   previously                     previously
                                                                                     published                      published
                                                 ------------------------      ------------------------      ------------------------
                                                 2003      2004      2005      2003      2004      2005      2003      2004      2005
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................   9,163.6   9,731.4  10,239.2      -5.5      18.1       1.5       -.1        .2        .0

  Compensation of employees, received......   6,310.4   6,665.3   7,030.3     -10.7     -22.3     -82.8       -.2       -.3      -1.2

    Wage and salary disbursements..........   5,112.7   5,392.1   5,664.8       1.6       2.7     -47.5        .0        .1       -.8
      Private industries...................   4,208.3   4,450.3   4,687.1        .5        .3     -53.6        .0        .0      -1.1
        Goods-producing industries.........   1,007.9   1,050.8   1,101.3        .7        .9     -16.1        .1        .1      -1.4
          Manufacturing....................     668.9     688.0     704.7        .2        .3     -15.3        .0        .0      -2.1
        Services-producing industries......   3,200.4   3,399.5   3,585.8       -.2       -.6     -37.5        .0        .0      -1.0
          Trade, transportation, and
           utilities.......................     858.3     899.2     937.2       -.3       -.5     -16.7        .0       -.1      -1.8
          Other services-producing
           industries......................   2,342.1   2,500.3   2,648.5        .1       -.1     -21.0        .0        .0       -.8
      Government...........................     904.4     941.8     977.7       1.1       2.3       6.1        .1        .2        .6

    Supplements to wages and salaries......   1,197.7   1,273.2   1,365.5     -12.3     -24.9     -35.3      -1.0      -1.9      -2.5
      Employer contributions for employee
       pension and insurance funds.........     815.6     866.1     933.2     -14.4     -29.4     -41.8      -1.7      -3.3      -4.3
      Employer contributions for government
       social insurance....................     382.1     407.1     432.3       2.1       4.4       6.5        .6       1.1       1.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................     811.3     911.1     970.7       1.1      21.5      32.0        .1       2.4       3.4
    Farm...................................      29.2      36.2      30.2       1.5        .4       9.4       5.4       1.1      45.2
    Nonfarm................................     782.1     874.9     940.4       -.3      21.1      22.6        .0       2.5       2.5

  Rental income of persons with capital
   consumption adjustment..................     133.0     127.0      72.8       1.3      -7.2       -.1       1.0      -5.4       -.1

  Personal income receipts on assets.......   1,336.6   1,427.9   1,519.4      -2.1      31.4      62.0       -.2       2.2       4.3
    Personal interest income...............     914.1     890.8     945.0      -3.5     -15.1       -.7       -.4      -1.7       -.1
    Personal dividend income...............     422.6     537.1     574.4       1.5      46.5      62.7        .4       9.5      12.3

  Personal current transfer receipts.......   1,351.0   1,426.5   1,526.6       7.0      -1.0       1.3        .5       -.1        .1
    Government social benefits to persons..   1,316.7   1,398.4   1,480.9       3.2       3.9      -2.8        .2        .3       -.2
      Old-age, survivors, disability, and
       health insurance benefits...........     741.3     791.4     844.9       2.0       2.1        .2        .3        .3        .0
      Government unemployment insurance
       benefits............................      52.8      36.0      31.3        .0        .0       2.4        .0        .0       8.3
      Other................................     522.5     571.0     604.6       1.1       1.8      -5.5        .2        .3       -.9
    Other current transfer receipts, from
     business (net)........................      34.3      28.1      45.7       3.8      -4.9       4.1      12.5     -14.8       9.9

  Less: Contributions for government social
   insurance...............................     778.6     826.4     880.6       2.0       4.2      10.9        .3        .5       1.3

Less: Personal current taxes...............   1,001.1   1,049.8   1,203.1       1.2        .7      -4.6        .1        .1       -.4

Equals: Disposable personal income.........   8,162.5   8,681.6   9,036.1      -6.7      17.4       6.2       -.1        .2        .1

Less: Personal outlays.....................   7,987.7   8,507.2   9,070.9      -8.6      -5.3      -1.2       -.1       -.1        .0

  Personal consumption expenditures........   7,703.6   8,211.5   8,742.4      -6.3      -2.8      -3.3       -.1        .0        .0
    Durable goods..........................     942.7     986.3   1,033.1      -7.4      -1.5       6.6       -.8       -.2        .6
    Nondurable goods.......................   2,190.2   2,345.2   2,539.3       1.2     -23.1     -25.1        .1      -1.0      -1.0
    Services...............................   4,570.8   4,880.1   5,170.0        .0      21.9      15.1        .0        .5        .3
  Personal interest payments\1\............     182.5     186.0     209.4       -.7       -.7       3.5       -.4       -.4       1.7
  Personal current transfer payments.......     101.5     109.7     119.2      -1.8      -1.8      -1.2      -1.7      -1.6      -1.0
    To government..........................      61.3      66.8      72.0       -.8      -1.8      -2.8      -1.3      -2.6      -3.7
    To the rest of the world (net).........      40.2      42.9      47.1      -1.0        .0       1.5      -2.4        .0       3.3

Equals: Personal saving....................     174.9     174.3     -34.8       2.1      22.5       7.3     .....     .....     .....

  Personal saving as a percentage of
   disposable personal income..............       2.1       2.0       -.4        .0        .2        .1     .....     .....     .....

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................   7,729.9   8,010.8   8,104.6     -11.9       6.5      -7.6       -.2        .1       -.1
    Per capita:
      Current dollars......................    28,039    29,536    30,458       -23        59        21       -.1        .2        .1
      Chained (2000) dollars...............    26,553    27,254    27,318       -41        22       -26       -.2        .1       -.1
  Population (midperiod, thousands)\3\.....   291,114   293,933   296,677        .0        .0        .0        .0        .0        .0
-------------------------------------------------------------------------------------------------------------------------------------
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.

                    Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)
------------------------------------------------------------------------------------------------------------------------------------------------------------
                                      Dec 02  Jan 03  Feb 03  Mar 03  Apr 03  May 03  Jun 03  Jul 03  Aug 03  Sep 03  Oct 03  Nov 03  Dec 03  Jan 04  Feb 04
------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    ------------------------------------------------------------------------------------------------------------------------
                                                                              Seasonally adjusted at annual rates
                                    ------------------------------------------------------------------------------------------------------------------------
Change from preceding period
  in billions of dollars:
  Personal income...................    24.5    22.8    27.1    36.1    27.2    59.3    39.8    17.5    25.5    34.6    46.3    72.0    35.5    59.6    51.6
    Previously published............    24.5    31.0    35.2    41.7    14.7    56.6    38.9    24.8    26.0    29.5    28.0    67.7    35.4    61.1    52.0
  Disposable personal income........    26.6    42.1    26.6    35.9    33.4    52.6    32.6   113.5    70.6   -79.4    39.6    64.6    35.1    66.4    46.7
    Previously published............    26.6    49.0    34.4    41.2    19.2    50.0    32.6   123.6    72.7   -82.8    24.8    61.3    35.2    67.7    45.7
  Personal consumption expenditures.    57.7    20.8    10.7    56.7     7.7    22.0    49.6    54.5    97.6   -17.2     8.6    56.2    16.8    92.4    28.2
    Previously published............    57.7    22.1    16.5    62.3     3.6    15.7    57.3    35.7   105.3    -7.0     -.2    57.8    46.4    80.3    19.5

Personal saving as a percentage
 of disposable personal income......     1.5     1.8     2.0     1.7     2.0     2.3     2.1     2.8     2.5     1.7     2.1     2.2     2.4     2.1     2.3
  Previously published..............     1.5     1.9     2.1     1.8     2.0     2.3     2.0     3.1     2.6     1.7     2.0     2.0     1.9     1.7     2.1
                                    ------------------------------------------------------------------------------------------------------------------------
                                                                Percent change from previous period for current-dollar measures,
                                                                              seasonally adjusted at monthly rates
                                    ------------------------------------------------------------------------------------------------------------------------
Personal income.....................      .3      .3      .3      .4      .3      .7      .4      .2      .3      .4      .5      .8      .4      .6      .5
  Previously published..............      .3      .3      .4      .5      .2      .6      .4      .3      .3      .3      .3      .7      .4      .7      .6

Disposable personal income..........      .3      .5      .3      .4      .4      .7      .4     1.4      .9    -1.0      .5      .8      .4      .8      .6
  Previously published..............      .3      .6      .4      .5      .2      .6      .4     1.5      .9    -1.0      .3      .7      .4      .8      .5

Personal consumption expenditures...      .8      .3      .1      .8      .1      .3      .7      .7     1.3     -.2      .1      .7      .2     1.2      .4
  Previously published..............      .8      .3      .2      .8      .0      .2      .8      .5     1.4     -.1      .0      .7      .6     1.0      .2
                                    ------------------------------------------------------------------------------------------------------------------------
                                                            Percent change from previous period for chained (2000) dollar measures,
                                                                              seasonally adjusted at monthly rates
                                    ------------------------------------------------------------------------------------------------------------------------
Real disposable personal income.....      .3      .3     -.1      .1      .6      .7      .3     1.2      .5    -1.2      .5      .8      .2      .4      .2
  Previously published..............      .3      .4      .0      .1      .5      .7      .3     1.3      .6    -1.3      .3      .8      .2      .3      .2

Real personal consumption
 expenditures.......................      .7      .1     -.3      .4      .3      .4      .5      .5      .9     -.5      .1      .8      .0      .8      .0
  Previously published..............      .7      .1     -.2      .4      .3      .3      .7      .3     1.1     -.4      .0      .8      .4      .5     -.1
------------------------------------------------------------------------------------------------------------------------------------------------------------

          Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
----------------------------------------------------------------------------------------------------------------------------------------------------
                                      Mar 04  Apr 04  May 04  Jun 04  Jul 04  Aug 04  Sep 04  Oct 04  Nov 04  Dec 04  Jan 05  Feb 05  Mar 05  Apr 05
----------------------------------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------------------------------
                                                                          Seasonally adjusted at annual rates
                                    ----------------------------------------------------------------------------------------------------------------
Change from preceding period
  in billions of dollars:
  Personal income...................    44.0    47.6    62.5    21.2    54.9    49.3    14.0    91.4    29.1   344.7  -240.0    32.5    24.9    48.7
    Previously published............    42.8    41.1    56.5    14.5    46.2    50.8    19.2    99.4    66.5   366.1  -265.8    47.7    49.1    23.1
  Disposable personal income........    39.6    41.7    53.6    18.1    40.7    40.7     4.5    80.1    23.9   336.8  -295.6    25.7    17.2    29.7
    Previously published............    36.7    30.4    46.6    11.5    36.6    42.1     8.1    88.1    52.5   351.2  -319.8    39.1    40.8     6.8
  Personal consumption expenditures.    64.6    16.1   109.9   -35.2    74.0    10.8    67.6    57.9    39.2    51.2     7.4    51.3    48.3    85.4
    Previously published............    66.5    -6.5   110.1   -13.1    70.6     6.0    44.9    75.9    38.8    57.8    15.5    58.5    41.0    64.0

Personal saving as a percentage
 of disposable personal income......     2.0     2.2     1.5     2.1     1.7     2.0     1.2     1.4     1.2     4.3      .9      .6      .2     -.4
  Previously published..............     1.7     2.1     1.3     1.5     1.1     1.5     1.0     1.1     1.3     4.4      .7      .5      .4     -.2
                                    ----------------------------------------------------------------------------------------------------------------
                                                            Percent change from previous period for current-dollar measures,
                                                                          seasonally adjusted at monthly rates
                                    ----------------------------------------------------------------------------------------------------------------
Personal income.....................      .5      .5      .7      .2      .6      .5      .1      .9      .3     3.5    -2.3      .3      .2      .5
  Previously published..............      .5      .4      .6      .2      .5      .5      .2     1.0      .7     3.7    -2.6      .5      .5      .2

Disposable personal income..........      .5      .5      .6      .2      .5      .5      .1      .9      .3     3.8    -3.2      .3      .2      .3
  Previously published..............      .4      .4      .5      .1      .4      .5      .1     1.0      .6     4.0    -3.5      .4      .5      .1

Personal consumption expenditures...      .8      .2     1.4     -.4      .9      .1      .8      .7      .5      .6      .1      .6      .6     1.0
  Previously published..............      .8     -.1     1.4     -.2      .9      .1      .5      .9      .5      .7      .2      .7      .5      .7
                                    ----------------------------------------------------------------------------------------------------------------
                                                        Percent change from previous period for chained (2000) dollar measures,
                                                                          seasonally adjusted at monthly rates
                                    ----------------------------------------------------------------------------------------------------------------
Real disposable personal income.....      .1      .3      .2      .0      .4      .4     -.1      .4      .1     3.8    -3.4      .0     -.2      .0
  Previously published..............      .1      .2      .1     -.1      .5      .4      .0      .5      .3     4.0    -3.6      .2      .0     -.3

Real personal consumption
 expenditures.......................      .5      .0      .9     -.7      .9      .0      .7      .2      .3      .6     -.1      .3      .1      .6
  Previously published..............      .5     -.3      .9     -.4      .9      .0      .4      .4      .2      .7      .0      .4      .1      .3
----------------------------------------------------------------------------------------------------------------------------------------------------

      Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
--------------------------------------------------------------------------------------------------------------------------------------------
                                      May 05  Jun 05  Jul 05  Aug 05  Sep 05  Oct 05  Nov 05  Dec 05  Jan 06  Feb 06  Mar 06  Apr 06  May 06
--------------------------------------------------------------------------------------------------------------------------------------------
                                    --------------------------------------------------------------------------------------------------------
                                                                      Seasonally adjusted at annual rates
                                    --------------------------------------------------------------------------------------------------------
Change from preceding period
  in billions of dollars:
  Personal income...................    27.8    53.8    81.7  -184.8   292.6    56.5    19.8    53.7    86.3    31.8    41.6    77.1    41.7
    Previously published............    35.5    50.9    52.4  -205.6   310.8    19.9    22.2    51.9    63.1    33.5    39.2    76.2    38.3
  Disposable personal income........    20.7    45.5    74.3  -191.2   281.9    44.4    11.0    37.3    35.0    17.9    29.9    51.5    34.6
    Previously published............    25.6    40.8    51.3  -207.5   305.1    15.2    20.3    44.9    19.2    22.7    29.4    52.4    31.6
  Personal consumption expenditures.    -9.8    80.2   109.1    -8.4    57.0    29.1     4.8    39.1    78.9    44.8    44.6    58.4    51.4
    Previously published............      .6    90.1   120.7   -38.9    35.7    22.5    41.8    63.0    71.2    20.4    44.3    65.3    40.3

Personal saving as a percentage
 of disposable personal income......     -.1     -.5     -.9    -3.0     -.5     -.3     -.3     -.3     -.8    -1.1    -1.3    -1.4    -1.6
  Previously published..............      .0     -.6    -1.3    -3.3     -.2     -.3     -.6     -.8    -1.3    -1.3    -1.5    -1.6    -1.7
                                    --------------------------------------------------------------------------------------------------------
                                                        Percent change from previous period for current-dollar measures,
                                                                      seasonally adjusted at monthly rates
                                    --------------------------------------------------------------------------------------------------------
Personal income.....................      .3      .5      .8    -1.8     2.9      .5      .2      .5      .8      .3      .4      .7      .4
  Previously published..............      .4      .5      .5    -2.0     3.1      .2      .2      .5      .6      .3      .4      .7      .4

Disposable personal income..........      .2      .5      .8    -2.1     3.2      .5      .1      .4      .4      .2      .3      .6      .4
  Previously published..............      .3      .5      .6    -2.3     3.4      .2      .2      .5      .2      .2      .3      .6      .3

Personal consumption expenditures...     -.1      .9     1.3     -.1      .6      .3      .1      .4      .9      .5      .5      .6      .6
  Previously published..............      .0     1.0     1.4     -.4      .4      .3      .5      .7      .8      .2      .5      .7      .4
                                    --------------------------------------------------------------------------------------------------------
                                                    Percent change from previous period for chained (2000) dollar measures,
                                                                      seasonally adjusted at monthly rates
                                    --------------------------------------------------------------------------------------------------------
Real disposable personal income.....      .2      .5      .4    -2.5     2.2      .3      .5      .4     -.1      .1      .0      .1      .0
  Previously published..............      .2      .4      .3    -2.7     2.5     -.1      .7      .5     -.3      .2     -.1      .1      .0

Real personal consumption
 expenditures.......................     -.1      .9      .8     -.5     -.3      .1      .4      .5      .4      .4      .1      .2      .2
  Previously published..............      .0     1.0     1.1     -.9     -.5      .0      .9      .7      .3      .2      .1      .2      .1
--------------------------------------------------------------------------------------------------------------------------------------------

Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
                                            (Years and Quarters)
                               [Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
                                        2002    2003    2004    2005   IV 02    I 03   II 03  III 03   IV 03
------------------------------------------------------------------------------------------------------------
Change from preceding period
  in billions of dollars:
  Personal income...................   157.8   281.7   567.8   507.8    30.1    72.7   113.1    92.3   137.7
    Previously published............   157.8   287.2   544.2   524.4    30.1    88.2   104.9    96.8   113.3
  Disposable personal income........   343.3   332.4   519.1   354.5    36.3    93.8   112.1   173.4    65.0
    Previously published............   343.3   339.1   495.0   365.7    36.3   107.7   102.3   182.9    46.4
  Personal consumption expenditures.   295.7   352.9   507.9   530.9    56.5    95.0    80.3   154.2    72.7
    Previously published............   295.7   359.2   504.4   531.4    56.5   102.1    80.1   147.1    84.2

Personal saving as a percentage
 of disposable personal income......     2.4     2.1     2.0     -.4     1.8     1.9     2.2     2.3     2.2
  Previously published..............     2.4     2.1     1.8     -.5     1.8     1.9     2.1     2.5     2.0
                                    ------------------------------------------------------------------------
                                        Percent change from previous period for current-dollar measures
                                    ------------------------------------------------------------------------
Personal income.....................     1.8     3.2     6.2     5.2     1.4     3.3     5.1     4.1     6.1
  Previously published..............     1.8     3.2     5.9     5.4     1.4     4.0     4.7     4.3     5.0

Disposable personal income..........     4.6     4.2     6.4     4.1     1.9     4.8     5.7     8.9     3.2
  Previously published..............     4.6     4.3     6.1     4.2     1.9     5.6     5.2     9.4     2.3

Personal consumption expenditures...     4.2     4.8     6.6     6.5     3.1     5.2     4.3     8.3     3.8
  Previously published..............     4.2     4.9     6.5     6.5     3.1     5.6     4.3     7.9     4.4
                                    ------------------------------------------------------------------------
                                     Percent change from previous period for chained (2000) dollar measures
                                    ------------------------------------------------------------------------
Real disposable personal income.....     3.1     2.2     3.6     1.2      .2     1.7     5.0     6.3     1.7
  Previously published..............     3.1     2.4     3.4     1.3      .2     2.5     4.5     7.2     1.0

Real personal consumption
 expenditures.......................     2.7     2.8     3.9     3.5     1.4     2.1     3.6     5.8     2.3
  Previously published..............     2.7     2.9     3.9     3.5     1.4     2.5     3.6     5.8     3.1
------------------------------------------------------------------------------------------------------------

Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
                                      (Years and Quarters)--Continued
                               [Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
                                        I 04   II 04  III 04   IV 04    I 05   II 05  III 05   IV 05    I 06
------------------------------------------------------------------------------------------------------------
Change from preceding period
  in billions of dollars:
  Personal income...................   156.4   142.8   127.4   251.5    29.4   112.7   101.2   221.0   163.8
    Previously published............   156.1   129.5   114.9   295.6    48.6   112.3    64.7   190.7   140.5
  Disposable personal income........   155.6   125.5    99.2   224.9   -40.3    78.8    78.0   188.4    85.4
    Previously published............   154.3   105.0    90.6   259.5   -28.4    77.7    50.3   178.0    80.8
  Personal consumption expenditures.   162.7   130.1   116.9   149.8   104.9   154.9   172.7    80.5   151.4
    Previously published............   165.7   113.3   117.6   152.9   119.7   141.2   167.0    82.2   155.5

Personal saving as a percentage
 of disposable personal income......     2.1     2.0     1.6     2.3      .6     -.3    -1.5     -.3    -1.0
  Previously published..............     1.8     1.6     1.2     2.3      .5     -.2    -1.6     -.5    -1.4
                                    ------------------------------------------------------------------------
                                        Percent change from previous period for current-dollar measures
                                    ------------------------------------------------------------------------
Personal income.....................     6.9     6.2     5.4    10.7     1.2     4.6     4.0     8.9     6.4
  Previously published..............     6.9     5.6     4.9    12.7     2.0     4.5     2.6     7.6     5.5

Disposable personal income..........     7.7     6.0     4.7    10.7    -1.8     3.6     3.5     8.6     3.8
  Previously published..............     7.6     5.1     4.3    12.5    -1.3     3.5     2.3     8.1     3.6

Personal consumption expenditures...     8.5     6.6     5.9     7.4     5.1     7.5     8.2     3.7     7.0
  Previously published..............     8.7     5.8     5.9     7.6     5.8     6.8     7.9     3.8     7.2
                                    ------------------------------------------------------------------------
                                     Percent change from previous period for chained (2000) dollar measures
                                    ------------------------------------------------------------------------
Real disposable personal income.....     3.9     2.4     2.8     7.5    -4.0      .5     -.6     5.5     1.7
  Previously published..............     3.6     1.2     2.8     9.1    -3.4      .2    -1.4     5.1     1.5

Real personal consumption
 expenditures.......................     4.7     2.9     3.9     4.3     2.7     4.2     3.9      .8     4.8
  Previously published..............     4.7     1.9     4.4     4.3     3.5     3.4     4.1      .9     5.1
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