EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, Wednesday, December 23, 2015
BEA 15—67


* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.


Technical: James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov
  Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
Media: Jeannine Aversa (202) 606-2649  
PERSONAL INCOME AND OUTLAYS, NOVEMBER 2015
Personal income increased $44.4 billion, or 0.3 percent, and disposable personal income (DPI)
increased $34.5 billion, or 0.3 percent, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $40.1 billion, or 0.3 percent.  In October, personal
income increased $66.9 billion, or 0.4 percent, DPI increased $54.0 billion, or 0.4 percent, and PCE
increased $3.8 billion, or less than 0.1 percent, based on revised estimates.

Real DPI increased 0.2 percent in November, compared with an increase of 0.3 percent in October.
Real PCE increased 0.3 percent, in contrast to a decrease of less than 0.1 percent.



                                        2015
                                        July            Aug.            Sept.           Oct.            Nov.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.4             0.4             0.2             0.4             0.3
Disposable personal income:
 Current dollars                        0.4             0.4             0.2             0.4             0.3
 Chained (2009) dollars                 0.4             0.4             0.3             0.3             0.2
Personal consumption expenditures:
 Current dollars                        0.3             0.3             0.2             0.0             0.3
 Chained (2009) dollars                 0.2             0.3             0.2             0.0             0.3


______________________________________________________________________________________________________________________
There was an inadvertent early release of some of BEA’s personal consumption expenditure data for November as well as 
for previous months via BEA’s API (application programming interface). Because some data were inadvertently released 
ahead of the official release time, BEA immediately released the data that were affected, consistent with our protocol 
at 7:50 pm EST. Those data cover current dollar personal consumption expenditure statistics for July through November 
as well as current dollar breakouts for goods, durables, nondurables, and services. 
______________________________________________________________________________________________________________________

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 (2009) dollars.

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

                                Compensation

Wages and salaries increased $37.1 billion in November, compared with an increase of $47.2 billion in October.
Private wages and salaries increased $34.4 billion, compared with an increase of $45.7 billion. November
wages and salaries include $11.6 billion (at an annual rate) in bonuses for United Auto Workers employees
associated with the ratification of their contract. Government wages and salaries increased $2.8 billion in November,
compared with an increase of $1.5 billion in October.

Supplements to wages and salaries increased $6.3 billion in November, compared with an increase of $6.5 billion in October.

                                Other personal income

Proprietors' income increased $1.6 billion in November, compared with an increase of $5.5 billion in October.
Farm proprietors' income decreased $0.9 billion in November, the same decrease as in October.  Nonfarm proprietors'
income increased $2.5 billion in November, compared with an increase of $6.5 billion in October.

Rental income of persons increased $5.7 billion in November, compared with an increase of $5.1 billion in October.
Personal income receipts on assets (personal interest income plus personal dividend income) decreased $9.7 billion,
in contrast to an increase of $0.2 billion. Personal current transfer receipts increased $8.1 billion,
compared with an increase of $8.0 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $4.7 billion in
November, compared with an increase of $5.8 billion in October.

                                Personal current taxes and disposable personal income

Personal current taxes increased $9.9 billion in November, compared with an increase of $12.9 billion in October.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $34.5 billion, or 0.3 percent,
compared with an increase of $54.0 billion, or 0.4 percent.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $44.0 billion in
November, compared with an increase of $7.5 billion in October.  PCE increased $40.1 billion, compared with an increase
of $3.8 billion.

Personal saving -- DPI less personal outlays -- was $747.6 billion in November, compared with $757.0 billion in October.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.5 percent, compared
with 5.6 percent.  For a comparison of personal saving in BEA's national income and product accounts with personal saving
in the Federal Reserve Board's Financial Accounts of the United States and data on changes in net worth, go to
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, compared with an increase of 0.3
percent in October.

Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in November, in contrast to a decrease of
less than 0.1 percent in October.  Purchases of durable goods increased 1.1 percent, in contrast to a decrease of 0.1 percent.
Purchases of nondurable goods increased 0.9 percent, in contrast to a decrease of 0.1 percent.  Purchases of services decreased
less than 0.1 percent, in contrast to an increase of less than 0.1 percent.

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

The November PCE price index increased 0.4 percent from November a year ago.  The November PCE price index, excluding
food and energy, increased 1.3 percent from November a year ago.

                                Revisions

Estimates have been revised for July through October.  Changes in personal income, in current-dollar and chained (2009) dollar
DPI, and in current-dollar and chained (2009) dollar PCE for September and for 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                            27.4      30.6        0.2       0.2       68.1      66.9        0.4       0.4
Disposable personal income:
 Current dollars                            27.0      29.2        0.2       0.2       56.8      54.0        0.4       0.4
 Chained (2009) dollars                     32.3      33.6        0.3       0.3       43.9      42.5        0.4       0.3
Personal consumption expenditures:
 Current dollars                             9.5      23.1        0.1       0.2       15.2       3.8        0.1       0.0
 Chained (2009) dollars                     15.6      27.4        0.1       0.2        6.7      -2.7        0.1       0.0

BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of
Current Business are available for free on BEA's Web site at www.bea.gov.  The entire historical time series for these
estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/.  Stay informed about BEA
developments by signing up for our email subscription service or following us on Twitter @BEA_News.  You also can access
BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm.

BEA's news release schedule is available at www.bea.gov/newsreleases/2016rd.htm.

                                *       *       *

Next release – February 1, 2016 at 8:30 A.M. EST for Personal Income and Outlays for December


                                Personal Income and Outlays Release Dates for 2016

December 2015...February 1              April 2016...May 31             August 2016......September 30
January 2016....February 26             May 2016.....June 29         	September 2016...October 31
February 2016...March 28		June 2016....August 2	     	October 2016.....November 30
March 2016......April 29                July 2016....August 29          November 2016....December 22