Home > News Release: Personal Income and Outlays, November 2009
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, DECEMBER 23, 2009
BEA 09-58


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PERSONAL INCOME AND OUTLAYS: NOVEMBER 2009
Personal income increased $49.7 billion, or 0.4 percent, and disposable personal income (DPI)
increased $54.1 billion, or 0.5 percent, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $47.9 billion, or 0.5 percent.  In October,
personal income increased $33.6 billion, or 0.3 percent, DPI increased $50.2 billion, or 0.5
percent, and PCE increased $63.5 billion, or 0.6 percent, based on revised estimates.

Real disposable income increased 0.2 percent in November, the same increase as in October.  Real
PCE increased 0.2 percent in November, compared with an increase of 0.4 percent in October.

                                        2009
                                        July            Aug.            Sept.           Oct.            Nov.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.2             0.3             0.3             0.3             0.4
Disposable personal income:
 Current dollars                        0.0             0.3             0.3             0.5             0.5
 Chained (2005) dollars                 0.0             0.0             0.2             0.2             0.2
Personal consumption expenditures:
 Current dollars                        0.2             1.3            -0.6             0.6             0.5
 Chained (2005) dollars                 0.2             1.0            -0.7             0.4             0.2

                                Wages and salaries

Private wage and salary disbursements increased $16.1 billion in November, compared with an increase
of $3.2 billion in October.  Goods-producing industries' payrolls increased $0.4 billion, in contrast
to a decrease of $2.0 billion; manufacturing payrolls increased $1.6 billion, in contrast to a
decrease of $2.4 billion.  Services-producing industries' payrolls increased $15.7 billion, compared
with an increase of $5.2 billion.  Government wage and salary disbursements increased $1.7 billion,
compared with an increase of $2.8 billion.

                                Other personal income

Supplements to wages and salaries increased $2.1 billion in November, compared with an increase of
$1.6 billion in October.

Proprietors' income increased $12.3 billion in November, compared with an increase of $14.8 billion in
October.  Farm proprietors' income increased $7.0 billion, compared with an increase of $6.9 billion.
Nonfarm proprietors' income increased $5.3 billion, compared with an increase of $7.9 billion.

Rental income of persons increased $1.7 billion in November, compared with an increase of $2.2 billion
in October.  Personal income receipts on assets (personal interest income plus personal dividend income)
increased $6.7 billion, compared with an increase of $6.6 billion.  Personal current transfer receipts
increased $11.3 billion, compared with an increase of $2.8 billion.

Contributions for government social insurance -- a subtraction in calculating personal income --
increased $2.3 billion in November, compared with an increase of $0.5 billion in October.

                                Personal current taxes and disposable personal income

Personal current taxes decreased $4.5 billion in November, compared with a decrease of $16.7 billion
in October.  Disposable personal income (DPI) -- personal income less personal current taxes -- increased
$54.1 billion, or 0.5 percent, in November, compared with an increase of $50.2 billion, or 0.5 percent
in October.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$45.7 billion in November, compared with an increase of $61.3 billion in October.  PCE increased
$47.9 billion, compared with an increase of $63.5 billion.

Personal saving -- DPI less personal outlays -- was $525.1 billion in November, compared with
$516.7 billion in October.  Personal saving as a percentage of disposable personal income was
4.7 percent in November, the same as in October.  For a comparison of personal saving in BEA’s
national income and product accounts with personal saving in the Federal Reserve Board’s flow
of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.2 percent in November, the same increase as in October.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in November, compared with an
increase of 0.4 percent in October.  Purchases of durable goods increased 1.2 percent, compared with an
increase of 2.5 percent.  Purchases of nondurable goods increased 0.6 percent, compared with an increase
of less than 0.1 percent.  Purchases of services decreased 0.1 percent, in contrast to an increase of 0.2 percent.

PCE price index -- The price index for PCE increased 0.2 percent in November, compared with an increase of 0.3 percent
in October.  The PCE price index, excluding food and energy, increased less than 0.1 percent, compared with an
increase of 0.2 percent.

                                Revisions

Estimates have been revised for July through October.  Changes in personal income, current-dollar and chained (2005)
dollar DPI, and current-dollar and chained (2005) dollar PCE for September and October -- revised and as published
in last month's release -- are shown below.

                                                                Change from preceding month
                                        September                                 October
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                        20.7       32.0      0.2        0.3       30.1       33.6      0.2        0.3
Disposable personal income:
 Current Dollars                        21.3       33.1      0.2        0.3       45.7       50.2      0.4        0.5
 Chained (2005) dollars                  8.2       20.5      0.1        0.2       15.2       20.4      0.2        0.2
Personal consumption expenditures:
 Current dollars                       -60.3      -64.6     -0.6       -0.6       68.3       63.5      0.7        0.6
 Chained (2005) dollars                -65.3      -67.9     -0.7       -0.7       37.8       34.5      0.4        0.4

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.

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Next release – February 1, 2010 at 8:30 A.M. EST for Personal Income and Outlays for December.

Release Dates for 2010

December 2010...February 1    April 2010...May 28       August 2010......October 1
January 2010....March 1       May 2010.....June 28      September 2010...November 1
February 2010...March 29      June 2010....August 3     October 2010.....November 24
March 2010......May 3         July 2010....August 30    November 2010....December 23