EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, MAY 31, 2013
BEA 13-22


* See the navigation bar at the right side of the news release text for links to data tables,
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James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov
Harvey Davis: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
PERSONAL INCOME AND OUTLAYS, APRIL 2013
Personal income decreased $5.6 billion, or less than 0.1 percent, and disposable personal
income (DPI) decreased $16.1 billion, or 0.1 percent, in April, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) decreased $20.5 billion, or 0.2 percent.  In March, personal income
increased $36.2 billion, or 0.3 percent, DPI increased $25.4 billion, or 0.2 percent, and PCE increased
$14.2 billion, or 0.1 percent, based on revised estimates.

Real disposable income increased 0.1 percent in April, compared with an increase of 0.3 percent
in March.  Real PCE increased 0.1 percent, compared with an increase of 0.2 percent.

                                        2012            2013
                                        Dec.            Jan.            Feb.            Mar.            Apr.
                                                       (Percent change from preceding month)
Personal income, current dollars        3.0            -4.4             1.2             0.3             0.0
Disposable personal income:
 Current dollars                        3.1            -5.1             1.2             0.2            -0.1
 Chained (2005) dollars                 3.1            -5.2             0.8             0.3             0.1
Personal consumption expenditures:
 Current dollars                        0.2             0.3             0.8             0.1            -0.2
 Chained (2005) dollars                 0.2             0.2             0.4             0.2             0.1

BOX._____________
This news release presents revised estimates of wages and salaries, personal taxes, and contributions
for government social insurance for October through December 2012 (fourth quarter).  These estimates
reflect the incorporation of newly available fourth-quarter wage and salary tabulations from the
quarterly census of employment and wages from the Bureau of Labor Statistics.
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FOOTNOTE.________
Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month
dollar changes are differences between these published estimates.  Month-to-month percent changes are calculated from
unrounded data and are not annualized.  “Real” estimates are in chained (2005) dollars.

This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm.
_________________

                                Wages and salaries

Private wage and salary disbursements increased $1.6 billion in April, compared with an increase of $16.3 billion
in March.  Goods-producing industries' payrolls decreased $2.0 billion, in contrast to an increase of $0.7 billion;
manufacturing payrolls decreased $2.1 billion, in contrast to an increase of $0.2 billion.  Services-producing
industries' payrolls increased $3.7 billion, compared with an increase of $15.6 billion.  Government wage and
salary disbursements increased $0.2 billion, in contrast to a decrease of $0.4 billion.

                                Other personal income

Supplements to wages and salaries increased $2.1 billion in April, compared with an increase of $3.1 billion in March.

Proprietors' income decreased $8.3 billion in April, in contrast to an increase of $5.5 billion in March.
Farm proprietors' income decreased $11.3 billion, in contrast to an increase of $7.8 billion.  Nonfarm proprietors'
income increased $3.0 billion, in contrast to a decrease of $2.3 billion.

Rental income of persons increased $0.5 billion in April, compared with an increase of $12.6 billion in March.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $12.6 billion,
in contrast to a decrease of $4.6 billion.

Personal current transfer receipts decreased $13.7 billion in April, in contrast to an increase of $6.0 billion in March.
Within current transfer receipts, government social benefits to persons for social security decreased $9.6 billion,
in contrast to an increase of $6.4 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $0.6 billion
in April, compared with an increase of $2.5 billion in March.

                                Personal current taxes and disposable personal income

Personal current taxes increased $10.4 billion in April, compared with an increase of $10.8 billion in March.
Disposable personal income (DPI) -- personal income less personal current taxes -- decreased $16.1 billion, or 0.1
percent, in April, in contrast to an increase of $25.4 billion, or 0.2 percent in March.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $21.7 billion
in April, in contrast to an increase of $16.4 billion in March.  PCE decreased $20.5 billion, in contrast to an
increase of $14.2 billion.

Personal saving -- DPI less personal outlays -- was $306.9 billion in April, compared with $301.4 billion in March.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 2.5 percent in April,
the same as in March.  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 0.1 percent in April, compared with an increase of 0.3 percent in March.

Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in April, compared with an increase of 0.2 percent in March.
Purchases of durable goods increased 0.7 percent, in contrast to a decrease of less than 0.1 percent.  Purchases of nondurable goods
increased 0.1 percent, in contrast to a decrease of 0.2 percent. Purchases of services decreased 0.1 percent, in contrast to an increase
of 0.4 percent.

The price index for PCE decreased 0.3 percent in April, compared with a decrease of 0.1 percent in March.  The PCE price index,
excluding food and energy, increased less than 0.1 percent, compared with an increase of 0.1 percent.

                                Revisions

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

Estimates of wages and salaries were revised from October through March.  The revision to fourth-quarter wages and salaries
reflected the incorporation of the most recently available BLS tabulations of the fourth-quarter wages and salaries from
the quarterly census of employment and wages (QCEW).  The QCEW data include irregular pay, such as bonuses and gains from
the exercise of stock options.  Accelerated bonuses in anticipation of changes to individual income tax rates were reflected
in the fourth-quarter QCEW data.

                                                                Change from preceding month
                                        February                                  March
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                           151.2     162.1        1.1       1.2       30.9      36.2        0.2       0.3
Disposable personal income:
 Current dollars                           134.0     143.5        1.1       1.2       20.7      25.4        0.2       0.2
 Chained (2005) dollars                     74.5      81.8        0.7       0.8       31.3      33.7        0.3       0.3
Personal consumption expenditures:
 Current dollars                            81.6      96.0        0.7       0.8       21.0      14.2        0.2       0.1
 Chained (2005) dollars                     31.6      43.2        0.3       0.4       30.8      23.4        0.3       0.2

BOX._____________
Comprehensive Revision of the National Income and Product Accounts

As part of the 14th comprehensive (or benchmark) revision of the national income and product accounts (NIPAs), revised
estimates of personal income and outlays will be released in conjunction with preliminary estimates for June 2013 on
August 2, 2013.  More information on the revision is available on BEA’s Web site at www.bea.gov/gdp-revisions.
An article in the March 2012 issue of the Survey of Current Business discusses the upcoming changes in definitions and

presentations, and an article in the May Survey describes changes in statistical methods.  An article in the
September Survey will describe the estimates in detail. Revised NIPA table stubs and news release stubs will be available in June.
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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
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Next release - June 27, 2013 at 8:30 A.M. EDT for Personal Income and Outlays for May