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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-15
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: APRIL 2002
Personal income increased $22.5 billion, or 0.3 percent, and disposable personal income (DPI)
increased $23.4 billion, or 0.3 percent, in April, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $38.8 billion, or 0.5 percent. In March, personal
income increased $33.9 billion, or 0.4 percent, DPI increased $34.9 billion, or 0.5 percent, and PCE
increased $23.5 billion, or 0.3 percent, based on revised estimates.
2000 2001
Dec. Jan. Feb. Mar. Apr.
(Percent change from preceding month)
Personal income, current dollars 0.3 0.5 0.6 0.4 0.3
Disposable personal income:
Current dollars 0.2 2.7 0.7 0.5 0.3
Chained (1996) dollars 0.4 2.5 0.6 0.2 -0.1
Personal consumption expenditures:
Current dollars 0.1 0.4 0.8 0.3 0.5
Chained (1996) dollars 0.3 0.2 0.6 0.0 0.2
Wages and salaries
Private wage and salary disbursements increased $2.7 billion in April, compared with an
increase of $7.2 billion in March. Goods-producing industries' payrolls decreased $2.7 billion, in
contrast to an increase of $2.6 billion; manufacturing payrolls decreased less than $0.1 billion, in
contrast to an increase of $2.3 billion. Distributive industries' payrolls decreased $2.2 billion, in
contrast to an increase of $2.1 billion. Service industries' payrolls increased $7.7 billion, compared
with an increase of $2.5 billion. Government wage and salary disbursements increased $1.8 billion,
compared with an increase of $2.7 billion.
Other personal income
Proprietors' income decreased $5.6 billion in April, in contrast to an increase of $9.3 billion in
March. Farm proprietors' income decreased $7.6 billion, in contrast to an increase of $7.0 billion.
Nonfarm proprietors' income increased $2.0 billion, compared with an increase of $2.3 billion.
Transfer payments increased $13.4 billion in April, compared with an increase of $1.0 billion in
March. Personal interest income decreased $3.1 billion, in contrast to an increase of $1.8 billion.
Personal dividend income increased $2.8 billion, compared with an increase of $1.8 billion. Rental
income of persons increased $7.2 billion, compared with an increase of $6.5 billion.
Personal contributions for social insurance -- a subtraction in calculating personal income --
decreased $0.1 billion in April, in contrast to an increase of $0.3 billion in March.
Personal taxes and disposable personal income
Personal tax and nontax payments decreased $0.9 billion in April, compared with a decrease of
$1.0 billion in March. Disposable personal income (DPI) -- personal income less personal tax and
nontax payments -- increased $23.4 billion, or 0.3 percent, in April, compared with an increase of
$34.9 billion, or 0.5 percent, in March.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $38.3 billion in April, compared with an increase of $20.3 billion in
March. PCE increased $38.8 billion, compared with an increase of $23.5 billion.
Personal saving -- DPI less personal outlays -- was $218.7 billion in April, compared with
$233.6 billion in March. Personal saving as a percentage of disposable personal income was 2.8
percent in April, compared with 3.0 percent in March.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in April, in contrast
to an increase of 0.2 percent in March.
Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in April, compared
with an increase of less than 0.1 percent in March. Purchases of durable goods increased 1.6
percent, compared with an increase of 0.1 percent. Purchases of motor vehicles and parts
accounted for most of the increase in April. Purchases of nondurable goods decreased 0.2 percent in
April, compared with a decrease of 0.3 percent in March. Purchases of services increased less than
0.1 percent, compared with an increase of 0.2 percent.
Revisions
Estimates have been revised for January through March. Changes in personal income, current-
dollar and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for February
and March -- revised and as published in last month's release -- are shown below. Revisions for
January to personal income and to PCE were small. DPI was revised up $59.7 billion in January,
which primarily reflected a downward revision of $59.5 billion to personal tax and nontax payments
(a subtraction in calculating disposable personal income). The revision to personal taxes was mostly
accounted for by a downward revision to federal nonwithheld income taxes, reflecting newly
available data through April from the Monthly Treasury Statement and revised projections for the
remainder of the calendar year.
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......... 53.2 51.9 0.6 0.6 36.7 33.9 0.4 0.4
Disposable personal income:
Current dollars......... 52.7 52.7 0.7 0.7 36.4 34.9 0.5 0.5
Chained (1996) dollars.. 41.5 39.5 0.6 0.6 17.8 12.5 0.3 0.2
Personal consumption expenditures:
Current dollars......... 43.8 54.1 0.6 0.8 28.8 23.5 0.4 0.3
Chained (1996) dollars.. 33.7 41.2 0.5 0.6 11.5 3.3 0.2 0.0
BEA's major national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site:
<www.bea.gov>
Summary BEA estimates are available on recorded messages at the time of public release at the
following telephone numbers:
(202) 606-5306 Gross domestic product
606-5303 Personal income and outlays
606-5362 U.S. international transactions
Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal. Subscriptions and single copies of the printed Survey are for sale by the
Superintendent of Documents, U.S. Government Printing Office. Internet: <bookstore.gpo.gov>;
phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
* * *
Next release -- Personal Income and Outlays for May will be released on
June 28, 2002 at 8:30 A.M. EDT.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,771.0 8,759.6 8,757.2 8,784.8 8,830.4 8,882.3 8,916.2 8,938.7
Wage and salary disbursements..... 5,122.0 5,110.6 5,112.8 5,136.8 5,134.8 5,154.2 5,164.1 5,168.7
Private industries.............. 4,304.8 4,289.7 4,289.8 4,311.1 4,301.0 4,316.1 4,323.3 4,326.0
Goods-producing industries.... 1,193.9 1,184.9 1,179.1 1,179.3 1,174.5 1,176.4 1,179.0 1,176.3
Manufacturing............... 836.7 829.1 821.9 820.7 817.9 818.0 820.3 820.3
Distributive industries....... 1,142.6 1,142.6 1,143.3 1,149.8 1,146.7 1,156.3 1,158.4 1,156.2
Service industries............ 1,968.4 1,962.2 1,967.4 1,982.0 1,979.8 1,983.3 1,985.8 1,993.5
Government...................... 817.2 820.9 822.9 825.7 833.8 838.1 840.8 842.6
Other labor income................ 556.5 557.4 558.5 559.5 564.0 567.6 571.4 574.6
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 748.6 743.9 739.1 739.3 749.6 760.1 769.4 763.8
Farm............................ 34.7 26.9 19.5 12.4 18.4 25.2 32.2 24.6
Nonfarm......................... 713.9 717.0 719.6 726.9 731.2 734.9 737.2 739.2
Rental income of persons with
capital consumption adjustment... 145.2 146.3 147.7 149.2 153.9 160.4 166.9 174.1
Personal dividend income.......... 423.0 425.8 428.3 431.0 433.6 435.8 437.6 440.4
Personal interest income.......... 988.6 979.7 970.9 962.0 963.8 965.6 967.4 964.3
Transfer payments to persons...... 1,160.9 1,168.7 1,172.2 1,180.5 1,209.6 1,218.0 1,219.0 1,232.4
Old-age, survivors, disability,
and health insurance benefits.. 670.8 671.7 674.6 679.2 693.1 699.2 695.3 702.6
Government unemployment
insurance benefits............. 24.3 24.7 25.1 25.8 26.8 26.8 27.7 30.6
Other........................... 465.8 472.3 472.4 475.4 489.6 492.0 495.9 499.2
Less: Personal contributions for
social insurance................. 373.7 372.6 372.4 373.5 378.8 379.3 379.6 379.5
Less: Personal tax and nontax
payments........................... 1,207.0 1,332.4 1,327.5 1,338.1 1,185.0 1,184.2 1,183.2 1,182.3
Equals: Disposable personal income.. 7,564.0 7,427.2 7,429.6 7,446.7 7,645.4 7,698.1 7,733.0 7,756.4
Less: Personal outlays.............. 7,210.6 7,418.0 7,397.5 7,404.2 7,428.2 7,479.1 7,499.4 7,537.7
Personal consumption expenditures. 6,979.4 7,188.3 7,168.9 7,177.4 7,204.1 7,258.2 7,281.7 7,320.5
Durable goods................... 820.4 941.2 910.4 877.9 869.9 881.9 880.3 892.9
Nondurable goods................ 2,045.5 2,051.0 2,045.9 2,063.7 2,085.5 2,099.3 2,103.9 2,120.5
Services........................ 4,113.6 4,196.1 4,212.7 4,235.8 4,248.8 4,277.1 4,297.5 4,307.1
Interest paid by persons.......... 199.2 197.7 196.7 194.9 191.7 188.5 185.2 184.9
Personal transfer payments to the
rest of the world (net).......... 31.9 31.9 31.9 31.9 32.4 32.4 32.4 32.4
Equals: Personal saving............. 353.4 9.2 32.1 42.5 217.2 219.0 233.6 218.7
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,928.9 6,759.8 6,768.1 6,793.5 6,965.6 7,005.1 7,017.6 7,012.4
Per capita:
Current dollars............... 26,384 25,879 25,862 25,898 26,565 26,725 26,822 26,876
Chained (1996) dollars........ 24,169 23,553 23,560 23,626 24,203 24,320 24,340 24,298
Population (thousands)\2\....... 286,687 286,999 287,277 287,539 287,798 288,044 288,312 288,605
Personal saving as a percentage
of disposable personal income.... 4.7 .1 .4 .6 2.8 2.8 3.0 2.8
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
1. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
2. 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 estimate is the average of the monthly estimates.
Estimates for January 1991 through June 2000 are interpolations between
Bureau of Census population estimates for 1990 and for 2000; estimates for
July 2000 forward are BEA extrapolations. BEA will substitute monthly Bureau
of Census population estimates for 1991 forward when they are released in the
first part of 2002.
Table 2.--Personal Income and Its Disposition (Years and Quarters)
[Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 IV 00 I 01 II 01 III 01 IV 01 I 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,319.2 8,723.5 8,519.6 8,640.2 8,714.6 8,771.8 8,767.2 8,876.3
Wage and salary disbursements..... 4,837.2 5,098.2 4,973.2 5,049.4 5,099.8 5,123.4 5,120.0 5,151.0
Private industries.............. 4,068.8 4,292.2 4,196.6 4,260.6 4,300.2 4,311.0 4,296.9 4,313.5
Goods-producing industries.... 1,163.7 1,197.3 1,195.5 1,206.3 1,204.4 1,197.5 1,181.1 1,176.7
Manufacturing............... 830.1 842.1 852.2 853.3 850.2 841.1 823.9 818.7
Distributive industries....... 1,095.6 1,145.5 1,125.9 1,140.3 1,148.2 1,148.1 1,145.2 1,153.8
Service industries............ 1,809.5 1,949.4 1,875.2 1,914.0 1,947.6 1,965.4 1,970.6 1,983.0
Government...................... 768.4 806.0 776.6 788.8 799.6 812.5 823.2 837.6
Other labor income................ 534.2 553.8 544.9 549.3 552.2 555.4 558.5 567.7
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 715.0 743.5 725.2 735.2 745.3 752.7 740.8 759.7
Farm............................ 30.6 27.6 31.7 29.8 28.7 32.3 19.6 25.3
Nonfarm......................... 684.4 715.9 693.5 705.4 716.6 720.5 721.2 734.4
Rental income of persons with
capital consumption adjustment... 141.6 142.6 141.7 139.6 139.0 144.0 147.7 160.4
Personal dividend income.......... 379.2 416.3 396.6 404.8 411.9 420.0 428.4 435.7
Personal interest income.......... 1,000.6 993.6 1,013.1 1,010.9 1,001.0 991.5 970.9 965.6
Transfer payments to persons...... 1,069.1 1,148.8 1,089.0 1,123.1 1,139.4 1,159.0 1,173.8 1,215.5
Old-age, survivors, disability,
and health insurance benefits.. 617.3 664.4 626.5 651.4 660.1 670.8 675.2 695.9
Government unemployment
insurance benefits............. 20.3 23.7 22.1 22.7 23.1 23.9 25.2 27.1
Other........................... 431.5 460.7 432.8 440.6 456.2 464.3 473.4 492.5
Less: Personal contributions for
social insurance................. 357.7 373.3 364.1 372.1 374.0 374.2 372.8 379.2
Less: Personal tax and nontax
payments........................... 1,288.2 1,306.2 1,329.8 1,345.2 1,351.4 1,195.5 1,332.7 1,184.2
Equals: Disposable personal income.. 7,031.0 7,417.3 7,189.8 7,295.0 7,363.2 7,576.4 7,434.5 7,692.2
Less: Personal outlays.............. 6,963.3 7,298.9 7,115.1 7,216.2 7,281.7 7,291.0 7,406.6 7,468.9
Personal consumption expenditures. 6,728.4 7,064.5 6,871.4 6,977.6 7,044.6 7,057.6 7,178.2 7,248.0
Durable goods................... 819.6 858.3 818.7 838.1 844.7 840.6 909.8 877.3
Nondurable goods................ 1,989.6 2,055.1 2,025.1 2,047.1 2,062.3 2,057.5 2,053.5 2,096.2
Services........................ 3,919.2 4,151.1 4,027.5 4,092.4 4,137.6 4,159.4 4,214.9 4,274.5
Interest paid by persons.......... 205.3 203.2 212.9 208.5 206.3 201.5 196.4 188.5
Personal transfer payments to the
rest of the world (net).......... 29.6 31.2 30.8 30.1 30.8 31.9 31.9 32.4
Equals: Personal saving............. 67.7 118.4 74.7 78.8 81.5 285.3 27.9 223.3
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,539.2 6,772.4 6,634.9 6,679.0 6,719.2 6,917.5 6,773.8 6,996.1
Per capita:
Current dollars............... 24,889 25,943 25,331 25,634 25,798 26,457 25,880 26,704
Chained (1996) dollars........ 23,148 23,687 23,376 23,470 23,541 24,157 23,580 24,288
Population (thousands)\2\....... 282,489 285,908 283,838 284,582 285,418 286,360 287,272 288,051
Personal saving as a percentage
of disposable personal income.... 1.0 1.6 1.0 1.1 1.1 3.8 .4 2.9
----------------------------------------------------------------------------------------------------------------------------
r Revised.
1. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
2. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population. The quarterly and
annual estimates are averages of monthly population estimates.
Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... -4.9 -11.4 -2.4 27.6 45.6 51.9 33.9 22.5
Wage and salary disbursements..... -1.8 -11.4 2.2 24.0 -2.0 19.4 9.9 4.6
Private industries.............. -7.1 -15.1 .1 21.3 -10.1 15.1 7.2 2.7
Goods-producing industries.... -3.3 -9.0 -5.8 .2 -4.8 1.9 2.6 -2.7
Manufacturing............... -4.3 -7.6 -7.2 -1.2 -2.8 .1 2.3 .0
Distributive industries....... -6.9 .0 .7 6.5 -3.1 9.6 2.1 -2.2
Service industries............ 3.2 -6.2 5.2 14.6 -2.2 3.5 2.5 7.7
Government...................... 5.3 3.7 2.0 2.8 8.1 4.3 2.7 1.8
Other labor income................ 1.2 .9 1.1 1.0 4.5 3.6 3.8 3.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... -9.1 -4.7 -4.8 .2 10.3 10.5 9.3 -5.6
Farm............................ 2.3 -7.8 -7.4 -7.1 6.0 6.8 7.0 -7.6
Nonfarm......................... -11.5 3.1 2.6 7.3 4.3 3.7 2.3 2.0
Rental income of persons with
capital consumption adjustment... .8 1.1 1.4 1.5 4.7 6.5 6.5 7.2
Personal dividend income.......... 2.9 2.8 2.5 2.7 2.6 2.2 1.8 2.8
Personal interest income.......... -2.9 -8.9 -8.8 -8.9 1.8 1.8 1.8 -3.1
Transfer payments to persons...... 3.6 7.8 3.5 8.3 29.1 8.4 1.0 13.4
Old-age, survivors, disability,
and health insurance benefits.. 1.6 .9 2.9 4.6 13.9 6.1 -3.9 7.3
Government unemployment
insurance benefits............. .3 .4 .4 .7 1.0 .0 .9 2.9
Other............................ 1.6 6.5 .1 3.0 14.2 2.4 3.9 3.3
Less: Personal contributions for
social insurance................. -.5 -1.1 -.2 1.1 5.3 .5 .3 -.1
Less: Personal tax and nontax
payments........................... 86.5 125.4 -4.9 10.6 -153.1 -.8 -1.0 -.9
Equals: Disposable personal income.. -91.4 -136.8 2.4 17.1 198.7 52.7 34.9 23.4
Less: Personal outlays.............. -122.5 207.4 -20.5 6.7 24.0 50.9 20.3 38.3
Personal consumption expenditures. -120.3 208.9 -19.4 8.5 26.7 54.1 23.5 38.8
Durable goods................... -28.1 120.8 -30.8 -32.5 -8.0 12.0 -1.6 12.6
Nondurable goods................ -18.3 5.5 -5.1 17.8 21.8 13.8 4.6 16.6
Services........................ -73.8 82.5 16.6 23.1 13.0 28.3 20.4 9.6
Interest paid by persons.......... -2.3 -1.5 -1.0 -1.8 -3.2 -3.2 -3.3 -.3
Personal transfer payments to the
rest of the world (net).......... .0 .0 .0 .0 .5 .0 .0 .0
Equals: Personal saving............. 31.1 -344.2 22.9 10.4 174.7 1.8 14.6 -14.9
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ -49.7 -169.1 8.3 25.4 172.1 39.5 12.5 -5.2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
1. 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]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 IV 00 I 01 II 01 III 01 IV 01 I 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 541.9 404.3 138.1 120.6 74.4 57.2 -4.6 109.1
Wage and salary disbursements..... 365.0 261.0 97.4 76.2 50.4 23.6 -3.4 31.0
Private industries.............. 320.9 223.4 93.4 64.0 39.6 10.8 -14.1 16.6
Goods-producing industries.... 75.0 33.6 22.3 10.8 -1.9 -6.9 -16.4 -4.4
Manufacturing............... 48.1 12.0 14.2 1.1 -3.1 -9.1 -17.2 -5.2
Distributive industries....... 74.6 49.9 23.5 14.4 7.9 -.1 -2.9 8.6
Service industries............ 171.3 139.9 47.6 38.8 33.6 17.8 5.2 12.4
Government...................... 44.1 37.6 4.0 12.2 10.8 12.9 10.7 14.4
Other labor income................ 24.5 19.6 7.0 4.4 2.9 3.2 3.1 9.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 43.0 28.5 5.9 10.0 10.1 7.4 -11.9 18.9
Farm............................ 4.0 -3.0 .1 -1.9 -1.1 3.6 -12.7 5.7
Nonfarm......................... 39.0 31.5 5.9 11.9 11.2 3.9 .7 13.2
Rental income of persons with
capital consumption adjustment... -6.1 1.0 3.4 -2.1 -.6 5.0 3.7 12.7
Personal dividend income.......... 36.1 37.1 10.8 8.2 7.1 8.1 8.4 7.3
Personal interest income.......... 50.6 -7.0 3.9 -2.2 -9.9 -9.5 -20.6 -5.3
Transfer payments to persons...... 49.5 79.7 14.4 34.1 16.3 19.6 14.8 41.7
Old-age, survivors, disability,
and health insurance benefits.. 29.3 47.1 5.6 24.9 8.7 10.7 4.4 20.7
Government unemployment
insurance benefits............. .0 3.4 2.0 .6 .4 .8 1.3 1.9
Other............................ 20.3 29.2 5.7 7.8 15.6 8.1 9.1 19.1
Less: Personal contributions for
social insurance................. 20.6 15.6 4.7 8.0 1.9 .2 -1.4 6.4
Less: Personal tax and nontax
payments........................... 129.0 18.0 29.6 15.4 6.2 -155.9 137.2 -148.5
Equals: Disposable personal income.. 413.0 386.3 108.5 105.2 68.2 213.2 -141.9 257.7
Less: Personal outlays.............. 506.1 335.6 88.2 101.1 65.5 9.3 115.6 62.3
Personal consumption expenditures. 478.2 336.1 85.9 106.2 67.0 13.0 120.6 69.8
Durable goods................... 58.7 38.7 -6.7 19.4 6.6 -4.1 69.2 -32.5
Nondurable goods................ 158.3 65.5 12.7 22.0 15.2 -4.8 -4.0 42.7
Services........................ 261.2 231.9 79.8 64.9 45.2 21.8 55.5 59.6
Interest paid by persons.......... 25.6 -2.1 1.6 -4.4 -2.2 -4.8 -5.1 -7.9
Personal transfer payments to the
rest of the world (net).......... 2.4 1.6 .7 -.7 .7 1.1 .0 .5
Equals: Personal saving............. -93.2 50.7 20.2 4.1 2.7 203.8 -257.4 195.4
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 219.2 233.2 68.4 44.1 40.2 198.3 -143.7 222.3
----------------------------------------------------------------------------------------------------------------------------
r Revised.
1. 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)
[Percent; months seasonally adjusted at monthly rates]
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... -.1 -.1 .0 .3 .5 .6 .4 .3
Wage and salary disbursements..... .0 -.2 .0 .5 .0 .4 .2 .1
Other labor income................ .2 .2 .2 .2 .8 .6 .7 .6
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... -1.2 -.6 -.6 .0 1.4 1.4 1.2 -.7
Rental income of persons with
capital consumption adjustment... .6 .7 1.0 1.0 3.2 4.2 4.0 4.4
Personal dividend income.......... .7 .6 .6 .6 .6 .5 .4 .6
Personal interest income.......... -.3 -.9 -.9 -.9 .2 .2 .2 -.3
Transfer payments to persons...... .3 .7 .3 .7 2.5 .7 .1 1.1
Less: Personal contributions for
social insurance................. -.1 -.3 -.1 .3 1.4 .1 .1 .0
Less: Personal tax and nontax
payments........................... 7.7 10.4 -.4 .8 -11.4 -.1 -.1 -.1
Equals: Disposable personal income.. -1.2 -1.8 .0 .2 2.7 .7 .5 .3
Addenda:
Personal consumption expenditures. -1.7 3.0 -.3 .1 .4 .8 .3 .5
Durable goods................... -3.3 14.7 -3.3 -3.6 -.9 1.4 -.2 1.4
Nondurable goods................ -.9 .3 -.3 .9 1.1 .7 .2 .8
Services........................ -1.8 2.0 .4 .5 .3 .7 .5 .2
Disposable personal income, based
on chained (1996) dollars........ -.7 -2.4 .1 .4 2.5 .6 .2 -.1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Percent; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 IV 00 I 01 II 01 III 01 IV 01 I 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 7.0 4.9 6.8 5.8 3.5 2.7 -.2 5.1
Wage and salary disbursements..... 8.2 5.4 8.2 6.3 4.0 1.9 -.3 2.4
Other labor income................ 4.8 3.7 5.3 3.2 2.2 2.3 2.2 6.8
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 6.4 4.0 3.3 5.6 5.6 4.0 -6.2 10.6
Rental income of persons with
capital consumption adjustment... -4.1 .7 10.2 -5.8 -1.8 15.1 10.8 39.0
Personal dividend income.......... 10.5 9.8 11.7 8.5 7.2 8.1 8.2 7.0
Personal interest income.......... 5.3 -.7 1.6 -.9 -3.8 -3.8 -8.1 -2.2
Transfer payments to persons...... 4.9 7.5 5.5 13.1 5.9 7.1 5.2 15.0
Less: Personal contributions for
social insurance................. 6.1 4.4 5.3 9.0 2.1 .3 -1.5 7.1
Less: Personal tax and nontax
payments........................... 11.1 1.4 9.4 4.7 1.9 -38.8 54.4 -37.7
Equals: Disposable personal income.. 6.2 5.5 6.3 6.0 3.8 12.1 -7.3 14.6
Addenda:
Personal consumption expenditures. 7.7 5.0 5.2 6.3 3.9 .7 7.0 3.9
Durable goods................... 7.7 4.7 -3.2 9.8 3.2 -1.9 37.2 -13.5
Nondurable goods................ 8.6 3.3 2.6 4.4 3.0 -.9 -.8 8.6
Services........................ 7.1 5.9 8.3 6.6 4.5 2.1 5.4 5.8
Disposable personal income, based
on chained (1996) dollars........ 3.5 3.6 4.2 2.7 2.4 12.3 -8.1 13.8
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,393.4 6,542.4 6,530.6 6,547.8 6,563.6 6,604.8 6,608.1 6,618.3
Durable goods..................... 921.5 1,056.8 1,021.9 986.3 981.3 1,003.1 1,004.0 1,020.0
Nondurable goods.................. 1,859.2 1,878.1 1,886.2 1,916.6 1,931.1 1,935.6 1,928.9 1,925.5
Services.......................... 3,628.6 3,647.7 3,655.7 3,671.1 3,676.0 3,694.4 3,703.0 3,703.9
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... -78.5 149.0 -11.8 17.2 15.8 41.2 3.3 10.2
Durable goods..................... -27.8 135.3 -34.9 -35.6 -5.0 21.8 .9 16.0
Nondurable goods.................. -37.2 18.9 8.1 30.4 14.5 4.5 -6.7 -3.4
Services.......................... -17.9 19.1 8.0 15.4 4.9 18.4 8.6 .9
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... -1.2 2.3 -.2 .3 .2 .6 .0 .2
Durable goods..................... -2.9 14.7 -3.3 -3.5 -.5 2.2 .1 1.6
Nondurable goods.................. -2.0 1.0 .4 1.6 .8 .2 -.3 -.2
Services.......................... -.5 .5 .2 .4 .1 .5 .2 .0
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 IV 00 I 01 II 01 III 01 IV 01 I 02/r/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,257.8 6,450.3 6,341.1 6,388.5 6,428.4 6,443.9 6,540.3 6,592.1
Durable goods..................... 895.5 955.6 899.4 922.4 938.1 940.2 1,021.7 996.1
Nondurable goods.................. 1,849.9 1,883.3 1,866.8 1,878.0 1,879.4 1,882.0 1,893.6 1,931.9
Services.......................... 3,527.7 3,633.4 3,588.8 3,605.1 3,629.8 3,640.4 3,658.2 3,691.1
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 289.4 192.5 49.0 47.4 39.9 15.5 96.4 51.8
Durable goods..................... 77.7 60.1 -4.7 23.0 15.7 2.1 81.5 -25.6
Nondurable goods.................. 83.5 33.4 2.7 11.2 1.4 2.6 11.6 38.3
Services.......................... 134.5 105.7 48.6 16.3 24.7 10.6 17.8 32.9
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... 4.8 3.1 3.1 3.0 2.5 1.0 6.1 3.2
Durable goods..................... 9.5 6.7 -2.1 10.6 7.0 .9 39.4 -9.6
Nondurable goods.................. 4.7 1.8 .6 2.4 .3 .6 2.5 8.3
Services.......................... 4.0 3.0 5.6 1.8 2.8 1.2 2.0 3.7
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 109.17 109.88 109.78 109.62 109.77 109.90 110.20 110.62
Durable goods..................... 89.04 89.07 89.09 89.01 88.64 87.91 87.67 87.53
Nondurable goods.................. 110.02 109.21 108.47 107.67 108.00 108.46 109.08 110.14
Services.......................... 113.38 115.05 115.25 115.39 115.59 115.79 116.07 116.30
Addendum:
Personal consumption expenditures
less food and energy............. 108.08 109.25 109.44 109.43 109.49 109.64 109.77 110.00
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... -.5 .6 -.1 -.1 .1 .1 .3 .4
Durable goods..................... -.4 .0 .0 -.1 -.4 -.8 -.3 -.2
Nondurable goods.................. 1.1 -.7 -.7 -.7 .3 .4 .6 1.0
Services.......................... -1.3 1.5 .2 .1 .2 .2 .2 .2
Addendum:
Personal consumption expenditures
less food and energy............. -.8 1.1 .2 .0 .1 .1 .1 .2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... 5.3 2.2 2.1 1.9 4.6 5.0 4.7 4.5
Personal consumption expenditures... 1.1 3.5 3.0 3.0 2.9 3.5 3.2 3.2
Durable goods..................... -.2 16.6 13.6 10.5 7.5 7.9 8.5 9.7
Nondurable goods.................. -.5 .5 1.2 2.6 2.1 3.2 3.3 2.6
Services.......................... 2.1 2.3 1.8 1.7 2.3 2.7 2.2 2.3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Sep 01 Oct 01 Nov 01 Dec 01 Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... 1.0 1.5 1.3 1.1 .6 .5 .8 1.0
Durable goods..................... -2.4 -2.1 -2.1 -2.2 -2.8 -3.2 -3.2 -3.1
Nondurable goods.................. 1.4 .7 -.1 -.7 -.7 -.7 .0 .6
Services.......................... 1.5 2.7 2.7 2.6 2.0 2.0 2.1 2.1
Addendum:
Personal consumption expenditures
less food and energy............. .6 1.6 1.6 1.6 1.2 1.1 1.2 1.3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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