EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, NOVEMBER 26, 2014
BEA 14-60


* 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
Jeannine Aversa (202) 606-2649 (News Media)
PERSONAL INCOME AND OUTLAYS, OCTOBER 2014
Personal income increased $32.9 billion, or 0.2 percent, and disposable personal income (DPI) increased $23.4 billion,
or 0.2 percent, in October, according to the Bureau of Economic Analysis.  Personal consumption expenditures (PCE)
increased $27.3 billion, or 0.2 percent.  In September, personal income increased $24.6 billion, or 0.2 percent, DPI
increased $17.2 billion, or 0.1 percent, and PCE increased $4.1 billion, or less than 0.1 percent, based on revised estimates.

Real DPI increased 0.1 percent in October, the same increase as in September.  Real PCE increased 0.2 percent in October,
in contrast to a decrease of less than 0.1 percent in September.

                                        2014
                                        June            July            Aug.            Sept.           Oct.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.4             0.3             0.4             0.2             0.2
Disposable personal income:
 Current dollars                        0.4             0.2             0.3             0.1             0.2
 Chained (2009) dollars                 0.2             0.1             0.3             0.1             0.1
Personal consumption expenditures:
 Current dollars                        0.5             0.1             0.5             0.0             0.2
 Chained (2009) dollars                 0.3             0.0             0.6             0.0             0.2

BOX.______________
This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government
social insurance for April through June 2014 (second quarter).These estimates reflect the incorporation of the
most recently available second-quarter wage and salary tabulations from the quarterly census of employment and wages
from the Bureau of Labor Statistics.
__________________
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.
__________________

                                Wages and salaries

Private wages and salaries increased $18.8 billion in October, compared with an increase of $13.9 billion in September.
Goods-producing industries' payrolls increased $7.2 billion, compared with an increase of $2.4 billion; manufacturing
payrolls increased $4.4 billion, compared with an increase of $0.7 billion.  Services-producing industries' payrolls
increased $11.6 billion, compared with an increase of $11.3 billion.  Government wages and salaries increased $1.4 billion,
compared with an increase of $1.8 billion.

                                Other personal income

Supplements to wages and salaries increased $3.8 billion in October, compared with an increase of $3.9 billion in September.

Proprietors' income increased $7.4 billion in October, in contrast to a decrease of $1.6 billion in September.  Farm proprietors'
income decreased $1.2 billion, compared with a decrease of $10.1 billion.  Nonfarm proprietors' income increased $8.6 billion,
compared with an increase of $8.5 billion.

Rental income of persons increased $2.5 billion in October, compared with an increase of $4.2 billion in September.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $3.1 billion, in contrast
to a decrease of $0.1 billion.  Personal current transfer receipts decreased $1.8 billion, in contrast to an increase of $4.8 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $2.4 billion in October,
compared with an increase of $2.1 billion in September.

                                Personal current taxes and disposable personal income

Personal current taxes increased $9.4 billion in October, compared with an increase of $7.4 billion in September.  Disposable personal
income (DPI) -- personal income less personal current taxes -- increased $23.4 billion, or 0.2 percent, in October, compared with an
increase of $17.2 billion, or 0.1 percent, in September.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $26.3 billion in October,
compared with an increase of $8.7 billion in September.  PCE increased $27.3 billion, compared with an increase of $4.1 billion.

Personal saving -- DPI less personal outlays -- was $651.2 billion in October, compared with $654.0 billion in September.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.0 percent in October, the same
as in September.  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 0.1 percent in October, the same increase as in September.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in October, in contrast to a decrease of less than 0.1 percent
in September.  Purchases of durable goods decreased 0.1 percent, compared with a decrease of 1.0 percent.  Purchases of motor
vehicles and parts more than accounted for the decrease in durable goods in both October and September.  Purchases of nondurable
goods increased 0.5 percent in October, in contrast to a decrease of 0.3 percent in September.  Purchases of services
increased 0.1 percent, compared with an increase of 0.2 percent.

The price index for PCE increased 0.1 percent in October, the same increase as in September.  The PCE price index, excluding food
and energy, increased 0.2 percent in October, compared with an increase of 0.1 percent in September.

The October price index for PCE increased 1.4 percent from October a year ago. The October PCE price index, excluding food and
energy, increased 1.6 percent from October a year ago.

                                Revisions

Estimates for personal income and DPI have been revised for April through September; estimates for PCE have been revised for
July through September.  Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar
and chained (2009) dollar PCE for August and September -- revised and as published in last month's release -- are shown below.

Estimates of wages and salaries were revised from April through September.  The revision to second-quarter wages and salaries
reflect the incorporation of the most recently available BLS tabulations of second-quarter wages and salaries from the
quarterly census of employment and wages.  Revised estimates for July, August, and September reflect extrapolation from the
revised second-quarter level of wages.  In addition, revisions to August and September reflect revised BLS employment, hours,
and earnings data for those months.

                                                                Change from preceding month
                                        August                                    September
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal income:
 Current dollars                            50.7      53.3        0.3       0.4       22.7      24.6        0.2       0.2
Disposable personal income:
 Current dollars                            37.5      39.2        0.3       0.3       15.7      17.2        0.1       0.1
 Chained (2009) dollars                     40.3      41.4        0.3       0.3        5.4       6.4        0.0       0.1
Personal consumption expenditures:
 Current dollars                            58.7      63.3        0.5       0.5      -19.0       4.1       -0.2       0.0
 Chained (2009) dollars                     59.4      63.2        0.5       0.6      -25.8      -5.0       -0.2       0.0

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 free e-mail
summaries of BEA releases and announcements.

                                *       *       *

Next release  December 23, 2014 at 10:00 A.M. EST for Personal Income and Outlays for November

Release Dates for 2015

December 2014....February 2     April 2015..June 1             August 2015.....September 28
January 2015.....March 2        May 2015....June 25            September 2015..October 30
February 2015....March 30       June 2015...August 3           October 2015....November 25
March 2015.......April 30       July 2015...August 28          November 2015...December 23