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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-30
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: AUGUST 2002
Personal income increased $33.0 billion, or 0.4 percent, and disposable personal income (DPI)
increased $34.4 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $23.7 billion, or 0.3 percent. In July, personal
income increased $2.6 billion, or less than 0.1 percent, DPI increased $12.8 billion, or 0.2 percent, and
PCE increased $74.5 billion, or 1.0 percent, based on revised estimates.
2002
Apr. May June July Aug.
(Percent change from preceding month)
Personal income, current dollars 0.4 0.4 0.7 0.0 0.4
Disposable personal income:
Current dollars 0.5 0.5 0.7 0.2 0.4
Chained (1996) dollars 0.1 0.5 0.6 0.0 0.2
Personal consumption expenditures:
Current dollars 0.5 0.0 0.4 1.0 0.3
Chained (1996) dollars 0.1 0.1 0.3 0.9 0.1
As announced previously, this release includes revised estimates of wage and salary disbursements
and related income-side series for January through July and the first two quarters of 2002. The revisions
for January through March and the first quarter reflect the incorporation of newly available tabulations
from the Bureau of Labor Statistics of wages and salaries of employees covered by state unemployment
insurance for the first quarter. (The incorporation of these new source data affect the estimates for
January through August and the first and second quarters.) This change will reduce annual revisions to
wages and salaries and thus provide more timely and reliable information to data users. The series in this
release that are revised include: personal income, private wage and salary disbursements (including
goods-producing, manufacturing, distributive, and services), personal contributions for social insurance,
personal tax and nontax payments, disposable personal income (DPI), personal saving, real DPI, per
capita DPI, per capita real DPI, and personal saving as a percentage of DPI.
Wages and salaries
Private wage and salary disbursements increased $20.3 billion in August, in contrast to a
decrease of $16.4 billion in July. Goods-producing industries' payrolls increased $3.6 billion, in
contrast to a decrease of $6.2 billion; manufacturing payrolls increased $0.5 billion, in contrast to a
decrease of $5.3 billion. Distributive industries' payrolls increased $3.9 billion, in contrast to a
decrease of $6.2 billion. Service industries' payrolls increased $12.9 billion, in contrast to a
decrease of $4.0 billion. Government wage and salary disbursements increased $3.4 billion,
compared with an increase of $2.2 billion.
Other personal income
Proprietors' income increased $7.2 billion in August, compared with an increase of $10.1
billion in July. Farm proprietors' income increased $4.2 billion, compared with an increase of $5.8
billion. Nonfarm proprietors' income increased $2.9 billion, compared with an increase of $4.5
billion.
Transfer payments increased $7.6 billion in August, compared with an increase of $6.2 billion
in July. Personal interest income decreased $0.9 billion in August, the same decrease as in July.
Personal dividend income increased $2.3 billion in August, the same increase as in July. Rental
income of persons decreased $10.0 billion in August, compared with a decrease of $5.9 billion in
July.
Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $1.6 billion in August, in contrast to a decrease of $0.7 billion in July.
Personal taxes and disposable personal income
Personal tax and nontax payments decreased $1.4 billion in August, compared with a decrease
of $10.3 billion in July. Disposable personal income (DPI) -- personal income less personal tax and
nontax payments -- increased $34.4 billion, or 0.4 percent, in August, compared with an increase of
$12.8 billion, or 0.2 percent, in July.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $24.8 billion in August, compared with an increase of $75.7 billion in
July. PCE increased $23.7 billion, compared with an increase of $74.5 billion.
Personal saving -- DPI less personal outlays -- was $282.3 billion in August, compared with
$272.8 billion in July. Personal saving as a percentage of disposable personal income was 3.6
percent in August, compared with 3.5 percent in July.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.2 percent in August, compared
with an increase of less than 0.1 percent in July.
Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in August,
compared with an increase of 0.9 percent in July. Purchases of durable goods increased 1.5 percent,
compared with an increase of 5.4 percent. Purchases of motor vehicles and parts accounted for
almost half of the August increase and accounted for most of the July increase. Purchases of
nondurable goods decreased less than 0.1 percent in August, in contrast to an increase of 0.2 percent
in July. Purchases of services decreased 0.1 percent, in contrast to an increase of 0.3 percent.
Revisions
Estimates for personal income and DPI have been revised for January through July; estimates
for PCE have been revised for April through July. Changes in personal income, current-dollar and
chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for June and July --
revised and as published in last month's release -- are shown below. Revisions for January through
May were small.
Change from preceding month
June July
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars.......... 58.6 60.0 0.7 0.7 2.4 2.6 0.0 0.0
Disposable personal income:
Current dollars.......... 55.4 56.8 0.7 0.7 11.9 12.8 0.2 0.2
Chained (1996) dollars... 42.9 42.7 0.6 0.6 -0.5 1.8 0.0 0.0
Personal consumption expenditures:
Current dollars.......... 36.4 32.1 0.5 0.4 70.7 74.5 1.0 1.0
Chained (1996) dollars... 26.3 20.9 0.4 0.3 53.3 58.0 0.8 0.9
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 September will be released on
November 1, 2002 at 8:30 A.M. EST.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,766.8 8,807.2 8,836.3 8,869.2 8,906.0 8,966.0 8,968.6 9,001.6
Wage and salary disbursements..... 4,941.0 4,956.9 4,975.4 4,972.7 4,990.1 5,028.0 5,013.8 5,037.6
Private industries.............. 4,104.7 4,116.0 4,131.4 4,126.9 4,141.8 4,177.1 4,160.7 4,181.0
Goods-producing industries.... 1,115.2 1,116.1 1,119.4 1,116.4 1,117.1 1,123.1 1,116.9 1,120.5
Manufacturing............... 759.1 759.0 760.2 759.1 760.6 764.7 759.4 759.9
Distributive industries....... 1,103.6 1,109.6 1,117.1 1,113.2 1,118.1 1,126.6 1,120.4 1,124.3
Service industries............ 1,885.9 1,890.3 1,894.8 1,897.4 1,906.6 1,927.4 1,923.4 1,936.3
Government...................... 836.3 840.9 844.1 845.8 848.3 851.0 853.2 856.6
Other labor income................ 586.1 590.7 595.5 599.8 603.9 608.5 612.6 617.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 743.3 750.0 751.9 751.4 746.0 745.1 755.2 762.4
Farm............................ 20.8 21.8 22.5 14.0 5.1 3.3 9.1 13.3
Nonfarm......................... 722.4 728.2 729.4 737.4 740.9 741.7 746.2 749.1
Rental income of persons with
capital consumption adjustment... 139.4 141.3 143.2 148.3 153.5 158.7 152.8 142.8
Personal dividend income.......... 421.8 423.8 425.5 428.0 430.3 432.7 435.0 437.3
Personal interest income.......... 1,070.9 1,069.9 1,069.0 1,075.7 1,082.3 1,088.9 1,088.0 1,087.1
Transfer payments to persons...... 1,243.5 1,255.0 1,257.6 1,275.0 1,282.9 1,289.9 1,296.1 1,303.7
Old-age, survivors, disability,
and health insurance benefits.. 688.7 693.2 688.6 695.1 696.3 697.4 699.2 702.0
Government unemployment
insurance benefits............. 48.1 52.6 56.2 63.5 67.7 70.8 71.3 74.2
Other........................... 506.7 509.1 512.8 516.4 518.9 521.7 525.6 527.4
Less: Personal contributions for
social insurance................. 379.2 380.4 381.8 381.8 383.1 385.7 385.0 386.6
Less: Personal tax and nontax
payments........................... 1,140.1 1,136.1 1,134.0 1,127.4 1,125.4 1,128.7 1,118.4 1,117.0
Equals: Disposable personal income.. 7,626.7 7,671.1 7,702.2 7,741.7 7,780.6 7,837.4 7,850.2 7,884.6
Less: Personal outlays.............. 7,355.7 7,408.9 7,424.3 7,464.1 7,467.9 7,501.8 7,577.5 7,602.3
Personal consumption expenditures. 7,130.6 7,186.8 7,205.3 7,242.7 7,244.6 7,276.7 7,351.2 7,374.9
Durable goods................... 853.6 863.5 859.8 868.2 845.2 857.4 902.0 914.2
Nondurable goods................ 2,074.1 2,089.1 2,092.1 2,110.9 2,101.9 2,111.7 2,118.0 2,122.3
Services........................ 4,202.8 4,234.2 4,253.4 4,263.5 4,297.4 4,307.6 4,331.3 4,338.3
Interest paid by persons.......... 193.7 190.6 187.6 189.4 191.3 193.2 194.3 195.4
Personal transfer payments to the
rest of the world (net).......... 31.5 31.5 31.5 31.9 31.9 31.9 31.9 31.9
Equals: Personal saving............. 271.0 262.2 277.9 277.7 312.7 335.6 272.8 282.3
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,938.8 6,965.7 6,978.3 6,983.3 7,020.1 7,062.8 7,064.6 7,079.1
Per capita:
Current dollars............... 26,500 26,632 26,715 26,825 26,932 27,101 27,115 27,202
Chained (1996) dollars........ 24,110 24,183 24,204 24,197 24,300 24,422 24,401 24,423
Population (thousands)\2\....... 287,798 288,044 288,312 288,605 288,893 289,192 289,518 289,853
Personal saving as a percentage
of disposable personal income.... 3.6 3.4 3.6 3.6 4.0 4.3 3.5 3.6
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
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.
Table 2.--Personal Income and Its Disposition (Years and Quarters)
[Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 I 01 II 01 III 01 IV 01 I 02/r/ II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,406.6 8,685.3 8,658.1 8,676.2 8,706.2 8,700.9 8,803.4 8,913.7
Wage and salary disbursements..... 4,836.3 4,950.6 4,960.4 4,956.8 4,953.7 4,931.4 4,957.8 4,997.0
Private industries.............. 4,067.4 4,139.8 4,165.2 4,151.0 4,136.6 4,106.2 4,117.4 4,148.6
Goods-producing industries.... 1,163.7 1,142.4 1,156.3 1,150.0 1,140.0 1,123.3 1,116.9 1,118.9
Manufacturing............... 829.4 789.4 807.2 797.1 783.4 769.9 759.4 761.5
Distributive industries....... 1,094.8 1,109.2 1,115.0 1,112.3 1,110.8 1,098.6 1,110.1 1,119.3
Service industries............ 1,808.9 1,888.2 1,893.9 1,888.8 1,885.8 1,884.3 1,890.4 1,910.5
Government...................... 768.9 810.8 795.2 805.8 817.1 825.2 840.4 848.4
Other labor income................ 544.2 570.4 564.7 568.2 572.4 576.3 590.8 604.1
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 714.8 727.9 721.2 726.6 732.4 731.3 748.4 747.5
Farm............................ 22.6 19.0 19.3 18.4 19.3 19.2 21.7 7.5
Nonfarm......................... 692.2 708.8 701.9 708.2 713.1 712.1 726.7 740.0
Rental income of persons with
capital consumption adjustment... 146.6 137.9 137.0 134.3 140.8 139.3 141.3 153.5
Personal dividend income.......... 375.7 409.2 402.5 406.0 411.0 417.3 423.7 430.3
Personal interest income.......... 1,077.0 1,091.3 1,108.4 1,097.2 1,086.4 1,072.9 1,069.9 1,082.3
Transfer payments to persons...... 1,070.3 1,170.4 1,135.0 1,159.1 1,182.5 1,205.0 1,252.0 1,282.6
Old-age, survivors, disability,
and health insurance benefits.. 617.2 664.3 652.9 660.2 670.1 674.0 690.2 696.3
Government unemployment
insurance benefits............. 20.5 31.9 24.2 29.2 33.1 41.0 52.3 67.3
Other........................... 432.5 474.2 457.9 469.7 479.3 490.0 509.5 519.0
Less: Personal contributions for
social insurance................. 358.4 372.3 371.1 372.2 373.1 372.7 380.5 383.5
Less: Personal tax and nontax
payments........................... 1,286.4 1,292.1 1,340.6 1,336.1 1,181.9 1,309.7 1,136.8 1,127.2
Equals: Disposable personal income.. 7,120.2 7,393.2 7,317.5 7,340.0 7,524.2 7,391.2 7,666.7 7,786.6
Less: Personal outlays.............. 6,918.6 7,223.5 7,143.9 7,198.5 7,222.0 7,329.6 7,396.3 7,477.9
Personal consumption expenditures. 6,683.7 6,987.0 6,904.7 6,959.8 6,983.7 7,099.9 7,174.2 7,254.7
Durable goods................... 803.9 835.9 816.8 820.3 824.0 882.6 859.0 856.9
Nondurable goods................ 1,972.9 2,041.3 2,031.5 2,044.8 2,044.3 2,044.4 2,085.1 2,108.2
Services........................ 3,906.9 4,109.9 4,056.4 4,094.7 4,115.4 4,172.9 4,230.1 4,289.5
Interest paid by persons.......... 205.4 205.4 208.3 207.7 206.5 199.1 190.6 191.3
Personal transfer payments to the
rest of the world (net).......... 29.5 31.1 30.9 30.9 31.8 30.6 31.5 31.9
Equals: Personal saving............. 201.5 169.7 173.7 141.6 302.2 61.5 270.4 308.7
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,630.3 6,748.0 6,704.3 6,694.8 6,864.0 6,729.1 6,961.0 7,022.1
Per capita:
Current dollars............... 25,205 25,859 25,713 25,717 26,275 25,729 26,616 26,953
Chained (1996) dollars........ 23,471 23,602 23,558 23,456 23,970 23,424 24,166 24,307
Population (thousands)\2\....... 282,489 285,908 284,582 285,418 286,360 287,272 288,051 288,897
Personal saving as a percentage
of disposable personal income.... 2.8 2.3 2.4 1.9 4.0 .8 3.5 4.0
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
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]
----------------------------------------------------------------------------------------------------------------------------
Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 35.9 40.4 29.1 32.9 36.8 60.0 2.6 33.0
Wage and salary disbursements..... -7.6 15.9 18.5 -2.7 17.4 37.9 -14.2 23.8
Private industries.............. -16.1 11.3 15.4 -4.5 14.9 35.3 -16.4 20.3
Goods-producing industries.... -7.8 .9 3.3 -3.0 .7 6.0 -6.2 3.6
Manufacturing............... -9.1 -.1 1.2 -1.1 1.5 4.1 -5.3 .5
Distributive industries....... 1.2 6.0 7.5 -3.9 4.9 8.5 -6.2 3.9
Service industries............ -9.5 4.4 4.5 2.6 9.2 20.8 -4.0 12.9
Government...................... 8.5 4.6 3.2 1.7 2.5 2.7 2.2 3.4
Other labor income................ 8.2 4.6 4.8 4.3 4.1 4.6 4.1 4.6
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 6.5 6.7 1.9 -.5 -5.4 -.9 10.1 7.2
Farm............................ 1.4 1.0 .7 -8.5 -8.9 -1.8 5.8 4.2
Nonfarm......................... 5.0 5.8 1.2 8.0 3.5 .8 4.5 2.9
Rental income of persons with
capital consumption adjustment... 2.1 1.9 1.9 5.1 5.2 5.2 -5.9 -10.0
Personal dividend income.......... 2.2 2.0 1.7 2.5 2.3 2.4 2.3 2.3
Personal interest income.......... -1.0 -1.0 -.9 6.7 6.6 6.6 -.9 -.9
Transfer payments to persons...... 30.6 11.5 2.6 17.4 7.9 7.0 6.2 7.6
Old-age, survivors, disability,
and health insurance benefits.. 10.5 4.5 -4.6 6.5 1.2 1.1 1.8 2.8
Government unemployment
insurance benefits............. 5.8 4.5 3.6 7.3 4.2 3.1 .5 2.9
Other............................ 14.3 2.4 3.7 3.6 2.5 2.8 3.9 1.8
Less: Personal contributions for
social insurance................. 5.2 1.2 1.4 .0 1.3 2.6 -.7 1.6
Less: Personal tax and nontax
payments........................... -171.9 -4.0 -2.1 -6.6 -2.0 3.3 -10.3 -1.4
Equals: Disposable personal income.. 207.8 44.4 31.1 39.5 38.9 56.8 12.8 34.4
Less: Personal outlays.............. 30.6 53.2 15.4 39.8 3.8 33.9 75.7 24.8
Personal consumption expenditures. 32.7 56.2 18.5 37.4 1.9 32.1 74.5 23.7
Durable goods................... -2.6 9.9 -3.7 8.4 -23.0 12.2 44.6 12.2
Nondurable goods................ 23.4 15.0 3.0 18.8 -9.0 9.8 6.3 4.3
Services........................ 11.8 31.4 19.2 10.1 33.9 10.2 23.7 7.0
Interest paid by persons.......... -3.0 -3.1 -3.0 1.8 1.9 1.9 1.1 1.1
Personal transfer payments to the
rest of the world (net).......... .9 .0 .0 .4 .0 .0 .0 .0
Equals: Personal saving............. 177.2 -8.8 15.7 -.2 35.0 22.9 -62.8 9.5
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 176.9 26.9 12.6 5.0 36.8 42.7 1.8 14.5
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
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 I 01 II 01 III 01 IV 01 I 02/r/ II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 620.1 278.7 81.5 18.1 30.0 -5.3 102.5 110.3
Wage and salary disbursements..... 365.9 114.3 42.6 -3.6 -3.1 -22.3 26.4 39.2
Private industries.............. 321.1 72.4 25.3 -14.2 -14.4 -30.4 11.2 31.2
Goods-producing industries.... 75.1 -21.3 -6.7 -6.3 -10.0 -16.7 -6.4 2.0
Manufacturing............... 47.4 -40.0 -13.1 -10.1 -13.7 -13.5 -10.5 2.1
Distributive industries....... 74.0 14.4 5.2 -2.7 -1.5 -12.2 11.5 9.2
Service industries............ 172.0 79.3 26.9 -5.1 -3.0 -1.5 6.1 20.1
Government...................... 44.7 41.9 17.3 10.6 11.3 8.1 15.2 8.0
Other labor income................ 34.0 26.2 7.3 3.5 4.2 3.9 14.5 13.3
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 36.4 13.1 1.9 5.4 5.8 -1.1 17.1 -.9
Farm............................ -5.1 -3.6 -1.9 -.9 .9 -.1 2.5 -14.2
Nonfarm......................... 41.5 16.6 3.8 6.3 4.9 -1.0 14.6 13.3
Rental income of persons with
capital consumption adjustment... -2.5 -8.7 -6.5 -2.7 6.5 -1.5 2.0 12.2
Personal dividend income.......... 47.7 33.5 5.3 3.5 5.0 6.3 6.4 6.6
Personal interest income.......... 107.8 14.3 -1.9 -11.2 -10.8 -13.5 -3.0 12.4
Transfer payments to persons...... 51.8 100.1 40.8 24.1 23.4 22.5 47.0 30.6
Old-age, survivors, disability,
and health insurance benefits.. 29.2 47.1 25.2 7.3 9.9 3.9 16.2 6.1
Government unemployment
insurance benefits............. .2 11.4 2.2 5.0 3.9 7.9 11.3 15.0
Other............................ 22.3 41.7 13.4 11.8 9.6 10.7 19.5 9.5
Less: Personal contributions for
social insurance................. 21.0 13.9 8.0 1.1 .9 -.4 7.8 3.0
Less: Personal tax and nontax
payments........................... 127.3 5.7 23.9 -4.5 -154.2 127.8 -172.9 -9.6
Equals: Disposable personal income.. 492.8 273.0 57.7 22.5 184.2 -133.0 275.5 119.9
Less: Personal outlays.............. 465.3 304.9 91.8 54.6 23.5 107.6 66.7 81.6
Personal consumption expenditures. 437.2 303.3 96.7 55.1 23.9 116.2 74.3 80.5
Durable goods................... 48.0 32.0 19.6 3.5 3.7 58.6 -23.6 -2.1
Nondurable goods................ 142.8 68.4 20.4 13.3 -.5 .1 40.7 23.1
Services........................ 246.4 203.0 56.7 38.3 20.7 57.5 57.2 59.4
Interest paid by persons.......... 25.9 .0 -4.9 -.6 -1.2 -7.4 -8.5 .7
Personal transfer payments to the
rest of the world (net).......... 2.2 1.6 .0 .0 .9 -1.2 .9 .4
Equals: Personal saving............. 27.5 -31.8 -34.0 -32.1 160.6 -240.7 208.9 38.3
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 301.9 117.7 -1.9 -9.5 169.2 -134.9 231.9 61.1
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
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]
----------------------------------------------------------------------------------------------------------------------------
Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... .4 .5 .3 .4 .4 .7 .0 .4
Wage and salary disbursements..... -.2 .3 .4 -.1 .3 .8 -.3 .5
Other labor income................ 1.4 .8 .8 .7 .7 .8 .7 .8
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... .9 .9 .3 -.1 -.7 -.1 1.4 1.0
Rental income of persons with
capital consumption adjustment... 1.6 1.3 1.4 3.6 3.5 3.4 -3.7 -6.5
Personal dividend income.......... .5 .5 .4 .6 .5 .5 .5 .5
Personal interest income.......... -.1 -.1 -.1 .6 .6 .6 -.1 -.1
Transfer payments to persons...... 2.5 .9 .2 1.4 .6 .5 .5 .6
Less: Personal contributions for
social insurance................. 1.4 .3 .4 .0 .3 .7 -.2 .4
Less: Personal tax and nontax
payments........................... -13.1 -.3 -.2 -.6 -.2 .3 -.9 -.1
Equals: Disposable personal income.. 2.8 .6 .4 .5 .5 .7 .2 .4
Addenda:
Personal consumption expenditures. .5 .8 .3 .5 .0 .4 1.0 .3
Durable goods................... -.3 1.2 -.4 1.0 -2.7 1.4 5.2 1.4
Nondurable goods................ 1.1 .7 .1 .9 -.4 .5 .3 .2
Services........................ .3 .7 .5 .2 .8 .2 .6 .2
Disposable personal income, based
on chained (1996) dollars........ 2.6 .4 .2 .1 .5 .6 .0 .2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Percent; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 I 01 II 01 III 01 IV 01 I 02/r/ II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8.0 3.3 3.9 .8 1.4 -.2 4.8 5.1
Wage and salary disbursements..... 8.2 2.4 3.5 -.3 -.3 -1.8 2.2 3.2
Other labor income................ 6.7 4.8 5.4 2.5 3.0 2.8 10.4 9.3
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 5.4 1.8 1.0 3.0 3.3 -.6 9.7 -.5
Rental income of persons with
capital consumption adjustment... -1.7 -6.0 -16.9 -7.8 20.9 -4.3 5.9 39.3
Personal dividend income.......... 14.5 8.9 5.4 3.6 5.0 6.3 6.3 6.4
Personal interest income.......... 11.1 1.3 -.7 -4.0 -3.9 -4.9 -1.1 4.7
Transfer payments to persons...... 5.1 9.4 15.8 8.8 8.3 7.8 16.5 10.1
Less: Personal contributions for
social insurance................. 6.2 3.9 9.2 1.1 1.0 -.4 8.6 3.3
Less: Personal tax and nontax
payments........................... 11.0 .4 7.4 -1.3 -38.8 50.8 -43.3 -3.3
Equals: Disposable personal income.. 7.4 3.8 3.2 1.2 10.4 -6.9 15.8 6.4
Addenda:
Personal consumption expenditures. 7.0 4.5 5.8 3.2 1.4 6.8 4.3 4.6
Durable goods................... 6.4 4.0 10.2 1.7 1.8 31.6 -10.3 -.9
Nondurable goods................ 7.8 3.5 4.1 2.6 -.1 .0 8.2 4.5
Services........................ 6.7 5.2 5.8 3.8 2.0 5.7 5.6 5.7
Disposable personal income, based
on chained (1996) dollars........ 4.8 1.8 -.1 -.6 10.5 -7.6 14.5 3.6
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wage and salary estimates for the first quarter
of 2002.
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,487.4 6,526.0 6,528.1 6,533.2 6,536.6 6,557.5 6,615.5 6,621.5
Durable goods..................... 963.6 982.9 981.2 992.5 966.3 983.2 1,036.7 1,051.8
Nondurable goods.................. 1,920.5 1,926.1 1,917.5 1,915.9 1,919.7 1,926.9 1,931.3 1,931.0
Services.......................... 3,627.3 3,644.0 3,655.2 3,653.2 3,672.4 3,672.9 3,684.0 3,678.8
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 18.1 38.6 2.1 5.1 3.4 20.9 58.0 6.0
Durable goods..................... 1.2 19.3 -1.7 11.3 -26.2 16.9 53.5 15.1
Nondurable goods.................. 16.1 5.6 -8.6 -1.6 3.8 7.2 4.4 -.3
Services.......................... 1.0 16.7 11.2 -2.0 19.2 .5 11.1 -5.2
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .3 .6 .0 .1 .1 .3 .9 .1
Durable goods..................... .1 2.0 -.2 1.1 -2.6 1.7 5.4 1.5
Nondurable goods.................. .8 .3 -.4 -.1 .2 .4 .2 .0
Services.......................... .0 .5 .3 -.1 .5 .0 .3 -.1
----------------------------------------------------------------------------------------------------------------------------
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 I 01 II 01 III 01 IV 01 I 02 II 02/r/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,223.9 6,377.2 6,326.0 6,348.0 6,370.9 6,464.0 6,513.8 6,542.4
Durable goods..................... 878.9 931.9 900.6 912.4 922.6 992.0 975.9 980.7
Nondurable goods.................. 1,833.8 1,869.8 1,863.7 1,862.3 1,868.3 1,885.0 1,921.4 1,920.9
Services.......................... 3,524.5 3,594.9 3,576.3 3,589.3 3,597.5 3,616.6 3,642.2 3,666.2
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 259.4 153.3 37.2 22.0 22.9 93.1 49.8 28.6
Durable goods..................... 66.4 53.0 24.1 11.8 10.2 69.4 -16.1 4.8
Nondurable goods.................. 68.7 36.0 10.6 -1.4 6.0 16.7 36.4 -.5
Services.......................... 129.1 70.4 5.7 13.0 8.2 19.1 25.6 24.0
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... 4.4 2.5 2.4 1.4 1.5 6.0 3.1 1.8
Durable goods..................... 8.2 6.0 11.5 5.3 4.6 33.6 -6.3 2.0
Nondurable goods.................. 3.9 2.0 2.3 -.3 1.3 3.6 7.9 -.1
Services.......................... 3.8 2.0 .6 1.5 .9 2.1 2.9 2.7
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 109.92 110.13 110.38 110.86 110.83 110.97 111.12 111.38
Durable goods..................... 88.56 87.83 87.60 87.46 87.45 87.18 86.98 86.90
Nondurable goods.................. 107.99 108.46 109.10 110.18 109.49 109.59 109.66 109.90
Services.......................... 115.87 116.20 116.37 116.71 117.02 117.28 117.57 117.93
Addendum:
Personal consumption expenditures
less food and energy............. 109.72 109.97 110.03 110.33 110.40 110.54 110.67 110.95
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .2 .2 .2 .4 .0 .1 .1 .2
Durable goods..................... -.4 -.8 -.3 -.2 .0 -.3 -.2 -.1
Nondurable goods.................. .3 .4 .6 1.0 -.6 .1 .1 .2
Services.......................... .3 .3 .1 .3 .3 .2 .2 .3
Addendum:
Personal consumption expenditures
less food and energy............. .1 .2 .1 .3 .1 .1 .1 .3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Jan 02/r/ Feb 02/r/ Mar 02/r/ Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... 3.5 4.0 4.0 4.1 5.0 5.6 3.9 2.3
Personal consumption expenditures... 2.4 3.2 3.3 3.1 2.9 3.1 3.8 3.6
Durable goods..................... 7.9 8.5 8.7 10.0 6.3 6.3 12.0 12.8
Nondurable goods.................. 2.3 3.4 3.5 3.0 2.9 3.6 3.2 3.0
Services.......................... 1.4 2.0 2.1 1.9 2.3 2.3 2.5 2.1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to income-side aggregates affected by
the introduction of revised wate and salary estimates for the first quarter
of 2002.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... .8 .8 1.0 1.3 1.0 1.1 1.2 1.5
Durable goods..................... -2.7 -3.1 -3.0 -3.0 -2.6 -2.8 -3.0 -2.6
Nondurable goods.................. -.8 -.7 .1 .6 -.4 -.4 .3 .9
Services.......................... 2.4 2.4 2.4 2.5 2.5 2.6 2.5 2.6
Addendum:
Personal consumption expenditures
less food and energy............. 1.5 1.6 1.5 1.7 1.7 1.7 1.5 1.7
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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