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News Release: Personal Income and Outlays

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	  EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, OCTOBER 30, 2006

James E. Rankin:       (202) 606-5301  (Personal Income)BEA 06-49
Michael Armah:      (202)    606-5302  (Personal Outlays)



                             PERSONAL INCOME AND OUTLAYS: SEPTEMBER 2006

        Personal income increased $53.0 billion, or 0.5 percent, and disposable personal income (DPI)
increased $49.3 billion, or 0.5 percent, in September, according to the Bureau of Economic
Analysis.  Personal consumption expenditures (PCE) increased $11.6 billion, or 0.1 percent.  In
August, personal income increased $47.2 billion, or 0.4 percent, DPI increased $46.4 billion, or 0.5
percent, and PCE increased $15.3 billion, or 0.2 percent, based on revised estimates.


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

                             Wages and salaries

        Private wage and salary disbursements increased $31.0 billion in September, compared with an
increase of $10.1 billion in August.  Goods-producing industries' payrolls increased $1.3 billion,
compared with an increase of $3.0 billion; manufacturing payrolls decreased $0.4 billion, in contrast
to an increase of $0.7 billion.  Services-producing industries' payrolls increased $29.7 billion,
compared with an increase of $7.0 billion.  Government wage and salary disbursements increased
$1.8 billion, compared with an increase of $3.3 billion.

                             Other personal income

        Supplements to wages and salaries increased $6.4 billion in September, compared with an
increase of $5.3 billion in August.

        Proprietors' income increased $3.2 billion in September, compared with an increase of $5.3
billion in August.  Farm proprietors' income increased $3.7 billion, compared with an increase of
$3.4 billion.  Nonfarm proprietors' income decreased $0.5 billion, in contrast to an increase of $1.9
billion.

        Rental income of persons increased $3.5 billion in September, compared with an increase of
$2.7 billion in August.  Personal income receipts on assets (personal interest income plus personal
dividend income) increased $7.8 billion, compared with an increase of $7.5 billion.  Personal current
transfer receipts increased $3.4 billion, compared with an increase $14.5 billion.

        Contributions for government social insurance -- a subtraction in calculating personal income --
increased $3.9 billion in September, compared with an increase of $1.7 billion in August.

                             Personal current taxes and disposable personal income

        Personal current taxes increased $3.7 billion in September, compared with an increase of $0.8
billion in August.  Disposable personal income (DPI) -- personal income less personal current taxes
-- increased $49.3 billion, or 0.5 percent, in September, compared with an increase of $46.4 billion,
or 0.5 percent, in August.

                             Personal outlays and personal saving

        Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $15.3 billion in September, compared with an increase of $19.1 billion in August.  PCE
increased $11.6 billion, compared with an increase of $15.3 billion.

        Personal saving -- DPI less personal outlays -- was a negative $15.0 billion in September,
compared with a negative $49.0 billion in August.  Personal saving as a percentage of disposable
personal income was a negative 0.2 percent in September, compared with a negative 0.5 percent in
August.  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 and data on changes in net worth (which help finance consumption), 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 0.8 percent in September,
compared with an increase of 0.2 percent in August.  In September, the larger increase in real DPI
than in current-dollar DPI reflected a decrease in the PCE implicit price deflator, which is used to
deflate DPI.  The decrease in the PCE price index primarily reflected decreases in energy prices.
The PCE price index decreased 0.3 percent in September, in contrast to an increase of 0.3 percent in
August.  The PCE price index, excluding food and energy, increased 0.2 percent, compared with an
increase of 0.3  percent.

        Real PCE -- PCE adjusted to remove price changes -- increased 0.4 percent in September, in
contrast to a decrease of 0.1 percent in August.  Purchases of durable goods increased 2.1 percent, in
contrast to a decrease of 1.5 percent.  Motor vehicles accounted for about one-third of the increase in
September and accounted for the decrease in August.  Purchases of nondurable goods increased 0.3
percent in September, in contrast to a decrease of 0.2 percent in August.  Purchases of services
increased 0.2 percent in September and in August.

                             Revisions

        Estimates have been revised for July and August.  Changes in personal income, current-dollar
and chained (2000) dollar DPI, and current-dollar and chained (2000) dollar PCE for July and
August -- revised and as published in last month's release -- are shown below.

                                                               Change from preceding month

                                          July                                              August
                                          Previous    Revised     Previous     Revised     Previous     Revised     Previous     Revised
                                          (Billions of dollars)         (Percent)          (Billions of dollars)          (Percent)
Personal Income:
  Current dollars......................    57.2        47.1        0.5          0.4         38.4         47.2        0.3          0.4
Disposable personal income:
  Current dollars......................    62.0        53.7        0.6          0.6         38.8         46.4        0.4          0.5
  Chained (2000) dollars.........          26.0        19.2        0.3          0.2         13.5         17.8        0.2          0.2
Personal consumption expenditures:
  Current dollars......................    75.9        70.9        0.8          0.8         10.5         15.3        0.1          0.2
  Chained (2000) dollars.........          38.9        35.0        0.5          0.4        -10.4         -8.5       -0.1         -0.1

        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 October will be released on
November 30, 2006, at 8:30 A.M. EST.



                                      Table 1.--Personal Income and Its Disposition (Months)
                                 [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................   10,721.9   10,777.4   10,852.4   10,894.2   10,956.3   11,003.4   11,050.6   11,103.6

  Compensation of employees, received......    7,407.2    7,451.3    7,513.2    7,520.5    7,565.9    7,598.1    7,616.8    7,656.0

    Wage and salary disbursements..........    5,976.6    6,013.8    6,066.5    6,069.4    6,107.8    6,132.8    6,146.3    6,179.0
      Private industries...................    4,977.9    5,013.4    5,063.3    5,064.0    5,098.6    5,119.9    5,130.0    5,161.0
        Goods-producing industries.........    1,179.5    1,188.4    1,197.0    1,199.6    1,207.3    1,207.7    1,210.7    1,212.0
          Manufacturing....................      744.3      749.6      754.7      754.5      757.5      757.2      757.9      757.5
        Services-producing industries......    3,798.4    3,825.0    3,866.3    3,864.4    3,891.3    3,912.3    3,919.3    3,949.0
          Trade, transportation, and
           utilities.......................      984.8      990.8    1,001.0      998.7    1,005.8    1,010.1    1,010.8    1,017.9
          Other services-producing
           industries......................    2,813.7    2,834.2    2,865.3    2,865.7    2,885.5    2,902.2    2,908.5    2,931.1
      Government...........................      998.7    1,000.4    1,003.2    1,005.4    1,009.2    1,012.9    1,016.2    1,018.0

    Supplements to wages and salaries......    1,430.7    1,437.4    1,446.8    1,451.1    1,458.0    1,465.3    1,470.6    1,477.0
      Employer contributions for employee
       pension and insurance funds.........      971.6      975.7      981.4      985.6      990.1      995.6    1,000.2    1,004.4
      Employer contributions for government
       social insurance....................      459.1      461.7      465.4      465.5      468.0      469.7      470.4      472.6

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    1,005.7    1,012.5    1,010.1    1,014.8    1,010.7    1,008.8    1,014.1    1,017.3
    Farm...................................       23.9       23.2       20.5       17.5       14.6       16.1       19.5       23.2
    Nonfarm................................      981.8      989.3      989.6      997.3      996.1      992.7      994.6      994.1

  Rental income of persons with capital
   consumption adjustment..................       75.9       76.4       74.2       71.8       68.2       71.5       74.2       77.7

  Personal income receipts on assets.......    1,602.1    1,603.9    1,625.4    1,647.3    1,670.2    1,677.4    1,684.9    1,692.7
    Personal interest income...............      989.1      986.2    1,002.7    1,019.2    1,035.6    1,036.4    1,037.2    1,038.0
    Personal dividend income...............      613.0      617.8      622.7      628.2      634.6      641.0      647.7      654.6

  Personal current transfer receipts.......    1,568.7    1,576.3    1,580.2    1,591.1    1,597.8    1,608.0    1,622.5    1,625.9
    Government social benefits to persons..    1,534.3    1,541.7    1,545.4    1,556.1    1,562.6    1,572.6    1,587.0    1,590.2
      Old-age, survivors, disability, and
       health insurance benefits...........      910.3      917.9      920.8      927.9      935.8      931.4      938.9      939.7
      Government unemployment insurance
       benefits............................       27.4       27.4       27.0       27.0       27.0       27.3       27.3       27.3
      Other................................      596.6      596.4      597.6      601.2      599.9      613.9      620.7      623.2
    Other current transfer receipts, from
     business (net)........................       34.5       34.6       34.8       35.0       35.2       35.4       35.5       35.7

  Less: Contributions for government social
   insurance...............................      937.8      943.0      950.7      951.4      956.5      960.4      962.1      966.0

Less: Personal current taxes...............    1,333.9    1,346.2    1,370.2    1,376.6    1,388.9    1,382.3    1,383.1    1,386.8

Equals: Disposable personal income.........    9,388.1    9,431.3    9,482.2    9,517.6    9,567.4    9,621.1    9,667.5    9,716.8

Less: Personal outlays.....................    9,418.6    9,465.7    9,522.3    9,587.5    9,621.2    9,697.4    9,716.5    9,731.8

  Personal consumption expenditures........    9,079.2    9,123.8    9,175.2    9,238.6    9,270.5    9,341.4    9,356.7    9,368.3
    Durable goods..........................    1,055.7    1,066.9    1,064.1    1,057.9    1,063.5    1,085.1    1,069.9    1,086.6
    Nondurable goods.......................    2,654.5    2,664.5    2,703.9    2,728.3    2,732.0    2,756.1    2,760.2    2,728.3
    Services...............................    5,369.0    5,392.5    5,407.2    5,452.4    5,475.0    5,500.2    5,526.6    5,553.4
  Personal interest payments\1\............      218.5      220.4      221.6      222.9      224.2      227.4      230.6      233.8
  Personal current transfer payments.......      120.9      121.4      125.5      126.0      126.5      128.6      129.2      129.7
    To government..........................       75.7       76.3       76.8       77.3       77.9       78.4       79.0       79.5
    To the rest of the world (net).........       45.2       45.2       48.7       48.7       48.7       50.2       50.2       50.2

Equals: Personal saving....................      -30.6      -34.4      -40.1      -69.8      -53.8      -76.3      -49.0      -15.0

  Personal saving as a percentage of
   disposable personal income..............        -.3        -.4        -.4        -.7        -.6        -.8        -.5        -.2

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................    8,283.8    8,292.9    8,299.9    8,302.2    8,333.6    8,352.8    8,370.6    8,439.8
    Per capita:
      Current dollars......................     31,468     31,591     31,739     31,834     31,975     32,128     32,256     32,392
      Chained (2000) dollars...............     27,767     27,778     27,782     27,768     27,852     27,893     27,928     28,135
  Population (midperiod, thousands)\3\.....    298,337    298,539    298,753    298,979    299,213    299,459    299,716    299,972
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
   personal consumption expenditures.
3. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population.  The monthly estimate
   is the average of estimates for the first of the month and the first of the
   following month; the annual and quarterly estimates are averages of the
   monthly estimates.

                                Table 2.--Personal Income and Its Disposition (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      II 05     III 05      IV 05       I 06      II 06     III 06
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................    9,731.4   10,239.2   10,161.5   10,262.7   10,483.7   10,721.4   10,901.0   11,052.5

  Compensation of employees, received......    6,665.3    7,030.3    6,953.7    7,093.6    7,184.4    7,400.3    7,533.2    7,623.7

    Wage and salary disbursements..........    5,392.1    5,664.8    5,601.3    5,715.2    5,787.0    5,970.1    6,081.2    6,152.7
      Private industries...................    4,450.3    4,687.1    4,627.6    4,734.6    4,798.9    4,972.0    5,075.3    5,137.0
        Goods-producing industries.........    1,050.8    1,101.3    1,087.5    1,113.9    1,124.9    1,177.3    1,201.3    1,210.1
          Manufacturing....................      688.0      704.7      697.3      709.7      715.0      742.8      755.6      757.5
        Services-producing industries......    3,399.5    3,585.8    3,540.0    3,620.7    3,673.9    3,794.7    3,874.0    3,926.9
          Trade, transportation, and
           utilities.......................      899.2      937.2      930.4      945.5      954.9      983.6    1,001.8    1,012.9
          Other services-producing
           industries......................    2,500.3    2,648.5    2,609.7    2,675.2    2,719.0    2,811.0    2,872.2    2,913.9
      Government...........................      941.8      977.7      973.7      980.6      988.1      998.1    1,005.9    1,015.7

    Supplements to wages and salaries......    1,273.2    1,365.5    1,352.4    1,378.4    1,397.4    1,430.3    1,452.0    1,471.0
      Employer contributions for employee
       pension and insurance funds.........      866.1      933.2      924.7      942.1      956.1      971.6      985.7    1,000.1
      Employer contributions for government
       social insurance....................      407.1      432.3      427.7      436.3      441.3      458.7      466.3      470.9

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................      911.1      970.7      965.8      967.3      996.8    1,008.3    1,011.9    1,013.4
    Farm...................................       36.2       30.2       28.7       29.7       28.7       23.9       17.5       19.6
    Nonfarm................................      874.9      940.4      937.1      937.7      968.1      984.4      994.3      993.8

  Rental income of persons with capital
   consumption adjustment..................      127.0       72.8      102.8      -11.5       81.5       76.8       71.4       74.5

  Personal income receipts on assets.......    1,427.9    1,519.4    1,500.5    1,532.7    1,580.2    1,602.3    1,647.7    1,685.0
    Personal interest income...............      890.8      945.0      934.8      951.2      981.7      989.1    1,019.2    1,037.2
    Personal dividend income...............      537.1      574.4      565.7      581.5      598.5      613.2      628.5      647.8

  Personal current transfer receipts.......    1,426.5    1,526.6    1,510.1    1,569.0    1,539.8    1,570.4    1,589.7    1,618.8
    Government social benefits to persons..    1,398.4    1,480.9    1,477.2    1,489.2    1,500.8    1,536.0    1,554.7    1,583.3
      Old-age, survivors, disability, and
       health insurance benefits...........      791.4      844.9      844.4      848.5      854.6      909.9      928.1      936.7
      Government unemployment insurance
       benefits............................       36.0       31.3       30.7       30.2       31.6       27.8       27.0       27.3
      Other................................      571.0      604.6      602.1      610.4      614.5      598.3      599.6      619.3
    Other current transfer receipts, from
     business (net)........................       28.1       45.7       33.0       79.8       39.0       34.5       35.0       35.5

  Less: Contributions for government social
   insurance...............................      826.4      880.6      871.5      888.5      898.9      936.7      952.9      962.8

Less: Personal current taxes...............    1,049.8    1,203.1    1,191.8    1,215.0    1,247.6    1,332.6    1,378.6    1,384.1

Equals: Disposable personal income.........    8,681.6    9,036.1    8,969.7    9,047.7    9,236.1    9,388.8    9,522.4    9,668.5

Less: Personal outlays.....................    8,507.2    9,070.9    9,000.4    9,180.3    9,264.5    9,418.5    9,577.0    9,715.2

  Personal consumption expenditures........    8,211.5    8,742.4    8,674.6    8,847.3    8,927.8    9,079.2    9,228.1    9,355.5
    Durable goods..........................      986.3    1,033.1    1,042.3    1,057.3    1,019.6    1,064.1    1,061.8    1,080.6
    Nondurable goods.......................    2,345.2    2,539.3    2,508.6    2,584.9    2,613.5    2,658.2    2,721.4    2,748.2
    Services...............................    4,880.1    5,170.0    5,123.7    5,205.1    5,294.7    5,356.8    5,444.9    5,526.7
  Personal interest payments\1\............      186.0      209.4      208.5      214.6      214.9      218.5      222.9      230.6
  Personal current transfer payments.......      109.7      119.2      117.3      118.5      121.8      120.9      126.0      129.2
    To government..........................       66.8       72.0       71.3       72.7       74.2       75.7       77.3       79.0
    To the rest of the world (net).........       42.9       47.1       46.0       45.8       47.6       45.2       48.7       50.2

Equals: Personal saving....................      174.3      -34.8      -30.8     -132.6      -28.5      -29.7      -54.6      -46.8

  Personal saving as a percentage of
   disposable personal income..............        2.0        -.4        -.3       -1.5        -.3        -.3        -.6        -.5

Addenda:
  Disposable personal income:
    Total, billions of chained (2000)
     dollars\2\............................    8,010.8    8,104.6    8,085.8    8,074.1    8,183.3    8,276.8    8,311.9    8,387.7
    Per capita:
      Current dollars......................     29,536     30,458     30,273     30,461     31,020     31,470     31,849     32,259
      Chained (2000) dollars...............     27,254     27,318     27,290     27,183     27,484     27,743     27,801     27,986
  Population (midperiod, thousands)\3\.....    293,933    296,677    296,289    297,027    297,748    298,340    298,982    299,716
-----------------------------------------------------------------------------------------------------------------------------------
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]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................       57.0       55.5       75.0       41.8       62.1       47.1       47.2       53.0

  Compensation of employees, received......       64.7       44.1       61.9        7.3       45.4       32.2       18.7       39.2

    Wage and salary disbursements..........       56.8       37.2       52.7        2.9       38.4       25.0       13.5       32.7
      Private industries...................       53.4       35.5       49.9         .7       34.6       21.3       10.1       31.0
        Goods-producing industries.........       15.5        8.9        8.6        2.6        7.7         .4        3.0        1.3
          Manufacturing....................        9.6        5.3        5.1        -.2        3.0        -.3         .7        -.4
        Services-producing industries......       37.9       26.6       41.3       -1.9       26.9       21.0        7.0       29.7
          Trade, transportation, and
           utilities.......................        9.5        6.0       10.2       -2.3        7.1        4.3         .7        7.1
          Other services-producing
           industries......................       28.4       20.5       31.1         .4       19.8       16.7        6.3       22.6
      Government...........................        3.4        1.7        2.8        2.2        3.8        3.7        3.3        1.8

    Supplements to wages and salaries......        8.0        6.7        9.4        4.3        6.9        7.3        5.3        6.4
      Employer contributions for employee
       pension and insurance funds.........        4.2        4.1        5.7        4.2        4.5        5.5        4.6        4.2
      Employer contributions for government
       social insurance....................        3.8        2.6        3.7         .1        2.5        1.7         .7        2.2

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        -.9        6.8       -2.4        4.7       -4.1       -1.9        5.3        3.2
    Farm...................................        -.7        -.7       -2.7       -3.0       -2.9        1.5        3.4        3.7
    Nonfarm................................        -.2        7.5         .3        7.7       -1.2       -3.4        1.9        -.5

  Rental income of persons with capital
   consumption adjustment..................       -2.1         .5       -2.2       -2.4       -3.6        3.3        2.7        3.5

  Personal income receipts on assets.......        1.3        1.8       21.5       21.9       22.9        7.2        7.5        7.8
    Personal interest income...............       -2.9       -2.9       16.5       16.5       16.4         .8         .8         .8
    Personal dividend income...............        4.2        4.8        4.9        5.5        6.4        6.4        6.7        6.9

  Personal current transfer receipts.......        2.4        7.6        3.9       10.9        6.7       10.2       14.5        3.4
    Government social benefits to persons..        2.4        7.4        3.7       10.7        6.5       10.0       14.4        3.2
      Old-age, survivors, disability, and
       health insurance benefits...........        8.9        7.6        2.9        7.1        7.9       -4.4        7.5         .8
      Government unemployment insurance
       benefits............................       -1.2         .0        -.4         .0         .0         .3         .0         .0
      Other................................       -5.3        -.2        1.2        3.6       -1.3       14.0        6.8        2.5
    Other current transfer receipts, from
     business (net)........................         .1         .1         .2         .2         .2         .2         .1         .2

  Less: Contributions for government social
   insurance...............................        8.5        5.2        7.7         .7        5.1        3.9        1.7        3.9

Less: Personal current taxes...............       16.1       12.3       24.0        6.4       12.3       -6.6         .8        3.7

Equals: Disposable personal income.........       41.0       43.2       50.9       35.4       49.8       53.7       46.4       49.3

Less: Personal outlays.....................       47.3       47.1       56.6       65.2       33.7       76.2       19.1       15.3

  Personal consumption expenditures........       44.8       44.6       51.4       63.4       31.9       70.9       15.3       11.6
    Durable goods..........................      -14.1       11.2       -2.8       -6.2        5.6       21.6      -15.2       16.7
    Nondurable goods.......................       -1.2       10.0       39.4       24.4        3.7       24.1        4.1      -31.9
    Services...............................       60.1       23.5       14.7       45.2       22.6       25.2       26.4       26.8
  Personal interest payments\1\............        1.9        1.9        1.2        1.3        1.3        3.2        3.2        3.2
  Personal current transfer payments.......         .5         .5        4.1         .5         .5        2.1         .6         .5
    To government..........................         .5         .6         .5         .5         .6         .5         .6         .5
    To the rest of the world (net).........         .0         .0        3.5         .0         .0        1.5         .0         .0

Equals: Personal saving....................       -6.4       -3.8       -5.7      -29.7       16.0      -22.5       27.3       34.0

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............       30.2        9.1        7.0        2.3       31.4       19.2       17.8       69.2
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
   for personal consumption expenditures.

                 Table 4.--Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      II 05     III 05      IV 05       I 06      II 06     III 06
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................      567.8      507.8      112.7      101.2      221.0      237.7      179.6      151.5

  Compensation of employees, received......      354.9      365.0       64.1      139.9       90.8      215.9      132.9       90.5

    Wage and salary disbursements..........      279.4      272.7       45.6      113.9       71.8      183.1      111.1       71.5
      Private industries...................      242.0      236.8       40.3      107.0       64.3      173.1      103.3       61.7
        Goods-producing industries.........       42.9       50.5        8.6       26.4       11.0       52.4       24.0        8.8
          Manufacturing....................       19.1       16.7         .4       12.4        5.3       27.8       12.8        1.9
        Services-producing industries......      199.1      186.3       31.6       80.7       53.2      120.8       79.3       52.9
          Trade, transportation, and
           utilities.......................       40.9       38.0       12.2       15.1        9.4       28.7       18.2       11.1
          Other services-producing
           industries......................      158.2      148.2       19.4       65.5       43.8       92.0       61.2       41.7
      Government...........................       37.4       35.9        5.3        6.9        7.5       10.0        7.8        9.8

    Supplements to wages and salaries......       75.5       92.3       18.5       26.0       19.0       32.9       21.7       19.0
      Employer contributions for employee
       pension and insurance funds.........       50.5       67.1       14.9       17.4       14.0       15.5       14.1       14.4
      Employer contributions for government
       social insurance....................       25.0       25.2        3.6        8.6        5.0       17.4        7.6        4.6

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................       99.8       59.6       13.0        1.5       29.5       11.5        3.6        1.5
    Farm...................................        7.0       -6.0       -5.2        1.0       -1.0       -4.8       -6.4        2.1
    Nonfarm................................       92.8       65.5       18.2         .6       30.4       16.3        9.9        -.5

  Rental income of persons with capital
   consumption adjustment..................       -6.0      -54.2      -15.7     -114.3       93.0       -4.7       -5.4        3.1

  Personal income receipts on assets.......       91.3       91.5       36.2       32.2       47.5       22.1       45.4       37.3
    Personal interest income...............      -23.3       54.2       22.5       16.4       30.5        7.4       30.1       18.0
    Personal dividend income...............      114.5       37.3       13.7       15.8       17.0       14.7       15.3       19.3

  Personal current transfer receipts.......       75.5      100.1       22.8       58.9      -29.2       30.6       19.3       29.1
    Government social benefits to persons..       81.7       82.5       20.9       12.0       11.6       35.2       18.7       28.6
      Old-age, survivors, disability, and
       health insurance benefits...........       50.1       53.5       12.2        4.1        6.1       55.3       18.2        8.6
      Government unemployment insurance
       benefits............................      -16.8       -4.7       -2.1        -.5        1.4       -3.8        -.8         .3
      Other................................       48.5       33.6       10.8        8.3        4.1      -16.2        1.3       19.7
    Other current transfer receipts, from
     business (net)........................       -6.2       17.6        2.0       46.8      -40.8       -4.5         .5         .5

  Less: Contributions for government social
   insurance...............................       47.8       54.2        7.9       17.0       10.4       37.8       16.2        9.9

Less: Personal current taxes...............       48.7      153.3       33.9       23.2       32.6       85.0       46.0        5.5

Equals: Disposable personal income.........      519.1      354.5       78.8       78.0      188.4      152.7      133.6      146.1

Less: Personal outlays.....................      519.5      563.7      161.9      179.9       84.2      154.0      158.5      138.2

  Personal consumption expenditures........      507.9      530.9      154.9      172.7       80.5      151.4      148.9      127.4
    Durable goods..........................       43.6       46.8       29.2       15.0      -37.7       44.5       -2.3       18.8
    Nondurable goods.......................      155.0      194.1       58.4       76.3       28.6       44.7       63.2       26.8
    Services...............................      309.3      289.9       67.3       81.4       89.6       62.1       88.1       81.8
  Personal interest payments\1\............        3.5       23.4        8.7        6.1         .3        3.6        4.4        7.7
  Personal current transfer payments.......        8.2        9.5       -1.7        1.2        3.3        -.9        5.1        3.2
    To government..........................        5.5        5.2        1.4        1.4        1.5        1.5        1.6        1.7
    To the rest of the world (net).........        2.7        4.2       -3.0        -.2        1.8       -2.4        3.5        1.5

Equals: Personal saving....................        -.6     -209.1      -83.3     -101.8      104.1       -1.2      -24.9        7.8

Addendum:
  Real disposable personal income, billions
   of chained (2000) dollars\2\............      280.9       93.8        9.2      -11.7      109.2       93.5       35.1       75.8
-----------------------------------------------------------------------------------------------------------------------------------
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]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................         .5         .5         .7         .4         .6         .4         .4         .5
  Compensation of employees, received......         .9         .6         .8         .1         .6         .4         .2         .5
    Wage and salary disbursements..........        1.0         .6         .9         .0         .6         .4         .2         .5
    Supplements to wages and salaries......         .6         .5         .6         .3         .5         .5         .4         .4
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        -.1         .7        -.2         .5        -.4        -.2         .5         .3
  Rental income of persons with capital
   consumption adjustment..................       -2.6         .7       -2.9       -3.2       -5.0        4.8        3.9        4.6
  Personal income receipts on assets.......         .1         .1        1.3        1.3        1.4         .4         .5         .5
    Personal interest income...............        -.3        -.3        1.7        1.6        1.6         .1         .1         .1
    Personal dividend income...............         .7         .8         .8         .9        1.0        1.0        1.1        1.1
  Personal current transfer receipts.......         .2         .5         .2         .7         .4         .6         .9         .2

  Less: Contributions for government social
   insurance...............................         .9         .6         .8         .1         .5         .4         .2         .4

Less: Personal current taxes...............        1.2         .9        1.8         .5         .9        -.5         .1         .3

Equals: Disposable personal income.........         .4         .5         .5         .4         .5         .6         .5         .5

Addenda:
  Personal consumption expenditures........         .5         .5         .6         .7         .3         .8         .2         .1
    Durable goods..........................       -1.3        1.1        -.3        -.6         .5        2.0       -1.4        1.6
    Nondurable goods.......................         .0         .4        1.5         .9         .1         .9         .2       -1.2
    Services...............................        1.1         .4         .3         .8         .4         .5         .5         .5
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real disposable personal income..........         .4         .1         .1         .0         .4         .2         .2         .8
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

             Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      II 05     III 05      IV 05       I 06      II 06     III 06
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................        6.2        5.2        4.6        4.0        8.9        9.4        6.9        5.7
  Compensation of employees, received......        5.6        5.5        3.8        8.3        5.2       12.6        7.4        4.9
    Wage and salary disbursements..........        5.5        5.1        3.3        8.4        5.1       13.3        7.7        4.8
    Supplements to wages and salaries......        6.3        7.3        5.7        7.9        5.6        9.7        6.2        5.3
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................       12.3        6.5        5.6         .6       12.7        4.7        1.4         .6
  Rental income of persons with capital
   consumption adjustment..................       -4.5      -42.7      -43.3      .....      .....      -21.2      -25.2       18.3
  Personal income receipts on assets.......        6.8        6.4       10.3        8.9       13.0        5.7       11.8        9.4
    Personal interest income...............       -2.5        6.1       10.2        7.2       13.5        3.0       12.7        7.3
    Personal dividend income...............       27.1        7.0       10.4       11.7       12.2       10.2       10.4       12.8
  Personal current transfer receipts.......        5.6        7.0        6.3       16.5       -7.3        8.2        5.0        7.5

  Less: Contributions for government social
   insurance...............................        6.1        6.6        3.7        8.0        4.8       17.9        7.1        4.2

Less: Personal current taxes...............        4.9       14.6       12.2        8.0       11.2       30.2       14.5        1.6

Equals: Disposable personal income.........        6.4        4.1        3.6        3.5        8.6        6.8        5.8        6.3

Addenda:
  Personal consumption expenditures........        6.6        6.5        7.5        8.2        3.7        7.0        6.7        5.6
    Durable goods..........................        4.6        4.7       12.1        5.9      -13.5       18.6        -.9        7.2
    Nondurable goods.......................        7.1        8.3        9.9       12.7        4.5        7.0        9.9        4.0
    Services...............................        6.8        5.9        5.4        6.5        7.1        4.8        6.7        6.2
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2000) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real disposable personal income..........        3.6        1.2         .5        -.6        5.5        4.6        1.7        3.7
-----------------------------------------------------------------------------------------------------------------------------------

                        Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Billions of chained (2000) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    8,011.3    8,022.6    8,031.2    8,058.7    8,075.0    8,110.0    8,101.5    8,137.1
  Durable goods............................    1,181.0    1,195.2    1,191.7    1,184.9    1,194.2    1,217.9    1,200.1    1,225.5
  Nondurable goods.........................    2,346.4    2,338.6    2,347.3    2,352.1    2,353.9    2,361.0    2,356.7    2,363.8
  Services.................................    4,505.3    4,512.8    4,515.3    4,542.1    4,548.9    4,557.9    4,567.2    4,575.6
                                           ----------------------------------------------------------------------------------------
                                                     Change from preceding period in billions of chained (2000) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........       33.8       11.3        8.6       27.5       16.3       35.0       -8.5       35.6
  Durable goods............................      -14.2       14.2       -3.5       -6.8        9.3       23.7      -17.8       25.4
  Nondurable goods.........................        3.1       -7.8        8.7        4.8        1.8        7.1       -4.3        7.1
  Services.................................       39.9        7.5        2.5       26.8        6.8        9.0        9.3        8.4
                                           ----------------------------------------------------------------------------------------
                                                       Percent change from preceding period in chained (2000) dollars,
                                                                     seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........         .4         .1         .1         .3         .2         .4        -.1         .4
  Durable goods............................       -1.2        1.2        -.3        -.6         .8        2.0       -1.5        2.1
  Nondurable goods.........................         .1        -.3         .4         .2         .1         .3        -.2         .3
  Services.................................         .9         .2         .1         .6         .1         .2         .2         .2
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

                  Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2004       2005      II 05     III 05      IV 05       I 06      II 06     III 06
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                      Billions of chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    7,577.1    7,841.2    7,819.8    7,895.3    7,910.2    8,003.8    8,055.0    8,116.2
  Durable goods............................    1,085.7    1,145.3    1,150.8    1,175.9    1,137.9    1,190.5    1,190.3    1,214.5
  Nondurable goods.........................    2,179.2    2,276.8    2,268.4    2,287.6    2,309.6    2,342.8    2,351.1    2,360.5
  Services.................................    4,323.9    4,436.6    4,420.0    4,454.5    4,476.7    4,494.5    4,535.4    4,566.9
                                           ----------------------------------------------------------------------------------------
                                                                       Change from preceding period in
                                                                      billions of chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........      281.8      264.1       80.4       75.5       14.9       93.6       51.2       61.2
  Durable goods............................       65.1       59.6       34.0       25.1      -38.0       52.6        -.2       24.2
  Nondurable goods.........................       76.2       97.6       26.9       19.2       22.0       33.2        8.3        9.4
  Services.................................      145.1      112.7       24.7       34.5       22.2       17.8       40.9       31.5
                                           ----------------------------------------------------------------------------------------
                                                                     Percent change from preceding period
                                                                          in chained (2000) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........        3.9        3.5        4.2        3.9         .8        4.8        2.6        3.1
  Durable goods............................        6.4        5.5       12.8        9.0      -12.3       19.8        -.1        8.4
  Nondurable goods.........................        3.6        4.5        4.9        3.4        3.9        5.9        1.4        1.6
  Services.................................        3.5        2.6        2.3        3.2        2.0        1.6        3.7        2.8
-----------------------------------------------------------------------------------------------------------------------------------

      Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Chain-type price indexes (2000=100),
                                                                             seasonally adjusted
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....    113.340    113.737    114.254    114.650    114.815    115.193    115.502    115.140
  Durable goods............................     89.389     89.264     89.289     89.279     89.049     89.095     89.144     88.665
  Nondurable goods.........................    113.150    113.953    115.210    116.015    116.082    116.749    117.142    115.439
  Services.................................    119.180    119.502    119.761    120.049    120.368    120.683    121.017    121.378
Addenda:
  PCE excluding food and energy............    110.928    111.264    111.515    111.736    111.963    112.115    112.415    112.614
  Market-based PCE\1\......................    111.988    112.390    112.929    113.374    113.513    113.893    114.172    113.687
  Market-based PCE excluding food
   and energy\1\...........................    108.735    109.065    109.290    109.537    109.745    109.853    110.113    110.275
                                           ----------------------------------------------------------------------------------------
                                                            Percent change from preceding period in price indexes,
                                                                     seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
PCE........................................         .1         .4         .5         .3         .1         .3         .3        -.3
  Durable goods............................        -.1        -.1         .0         .0        -.3         .1         .1        -.5
  Nondurable goods.........................        -.2         .7        1.1         .7         .1         .6         .3       -1.5
  Services.................................         .2         .3         .2         .2         .3         .3         .3         .3
Addenda:
  PCE excluding food and energy............         .2         .3         .2         .2         .2         .1         .3         .2
  Market-based PCE\1\......................         .0         .4         .5         .4         .1         .3         .2        -.4
  Market-based PCE excluding food
   and energy\1\...........................         .1         .3         .2         .2         .2         .1         .2         .1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. This index is a supplemental measure that is based on household
   expenditures for which there are observable price measures.  It
   excludes most implicit prices (for example, the services furnished
   without payment by financial intermediaries) and the expenses of
   nonprofit institutions.

   Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................        2.5        2.8        3.0        2.8        2.7        2.5        5.3        3.9

Personal consumption expenditures..........        3.4        3.5        2.9        3.4        2.7        2.3        2.7        3.4
  Durable goods............................        6.0        5.9        2.3        6.1        2.0       -1.6        3.4        8.5
  Nondurable goods.........................        4.3        4.6        3.6        3.9        3.4        3.5        2.9        3.1
  Services.................................        2.5        2.4        2.7        2.6        2.5        2.5        2.4        2.6
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

              Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Feb 06     Mar 06     Apr 06     May 06     Jun 06  Jul 06/r/  Aug 06/r/  Sep 06/p/
-----------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....        3.0        2.9        3.0        3.3        3.5        3.4        3.2        2.0
  Durable goods............................       -1.4       -1.5       -1.4       -1.6       -1.5       -1.1        -.7       -1.3
  Nondurable goods.........................        3.6        3.5        3.8        5.0        5.3        4.8        4.0         .3
  Services.................................        3.6        3.5        3.5        3.5        3.6        3.6        3.6        3.5
Addenda:
  PCE excluding food and energy............        2.0        2.0        2.2        2.2        2.3        2.3        2.5        2.4
  Market-based PCE\1\......................        2.8        2.7        2.8        3.2        3.4        3.3        3.1        1.6
  Market-based PCE excluding food
   and energy\1\...........................        1.6        1.6        1.8        1.8        2.0        2.0        2.1        2.1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. This index is a supplemental measure that is based on household
   expenditures for which there are observable price measures.  It
   excludes most implicit prices (for example, the services furnished
   without payment by financial intermediaries) and the expenses of
   nonprofit institutions.