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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-26
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: JULY 2002
Personal income increased $2.4 billion, or less than 0.1 percent, and disposable personal
income (DPI) increased $11.9 billion, or 0.2 percent, in July, according to the Bureau of Economic
Analysis. Personal consumption expenditures (PCE) increased $70.7 billion, or 1.0 percent. In
June, personal income increased $58.6 billion, or 0.7 percent, DPI increased $55.4 billion, or 0.7
percent, and PCE increased $36.4 billion, or 0.5 percent, based on revised estimates.
2002
Mar. Apr. May June July
(Percent change from preceding month)
Personal income, current dollars 0.3 0.4 0.4 0.7 0.0
Disposable personal income:
Current dollars 0.4 0.5 0.5 0.7 0.2
Chained (1996) dollars 0.1 0.1 0.5 0.6 0.0
Personal consumption expenditures:
Current dollars 0.3 0.5 0.0 0.5 1.0
Chained (1996) dollars 0.0 0.1 0.0 0.4 0.8
Wages and salaries
Private wage and salary disbursements decreased $11.6 billion in July, in contrast to an
increase of $34.6 billion in June. Goods-producing industries' payrolls decreased $4.2 billion, in
contrast to an increase of $6.1 billion; manufacturing payrolls decreased $3.7 billion, in contrast to
an increase of $3.9 billion. Distributive industries' payrolls decreased $5.6 billion, in contrast to an
increase of $7.7 billion. Service industries' payrolls decreased $1.9 billion, in contrast to an increase
of $20.8 billion. Government wage and salary disbursements increased $0.9 billion, compared with
an increase of $3.3 billion.
Other personal income
Proprietors' income increased $6.8 billion in July, in contrast to a decrease of $1.5 billion in
June. Farm proprietors' income increased $4.5 billion, in contrast to a decrease of $1.8 billion.
Nonfarm proprietors' income increased $2.3 billion, compared with an increase of $0.3 billion.
Transfer payments increased $5.7 billion in July, compared with an increase of $4.2 billion in
June. Personal interest income decreased $0.7 billion, in contrast to an increase of $8.0 billion.
Personal dividend income increased $2.3 billion, compared with an increase of $2.4 billion. Rental
income of persons decreased $5.6 billion, in contrast to an increase of $5.7 billion.
Personal contributions for social insurance -- a subtraction in calculating personal income --
decreased $0.4 billion in July, in contrast to an increase of $2.6 billion in June.
Personal taxes and disposable personal income
Personal tax and nontax payments decreased $9.5 billion in July, in contrast to an increase of
$3.2 billion in June. Disposable personal income (DPI) -- personal income less personal tax and
nontax payments -- increased $11.9 billion, or 0.2 percent, in July, compared with an increase of
$55.4 billion, or 0.7 percent, in June.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $69.8 billion in July, compared with an increase of $41.1 billion in June.
PCE increased $70.7 billion, compared with an increase of $36.4 billion.
Personal saving -- DPI less personal outlays -- was $269.5 billion in July, compared with
$327.5 billion in June. Personal saving as a percentage of disposable personal income was 3.4
percent in July, compared with 4.2 percent in June.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- decreased less than 0.1 percent in July, in
contrast to an increase of 0.6 percent in June.
Real PCE -- PCE adjusted to remove price changes -- increased 0.8 percent in July, compared
with an increase of 0.4 percent in June. Purchases of durable goods increased 3.9 percent, compared
with an increase of 1.9 percent. Purchases of motor vehicles and parts accounted for most of the
increases in July and June. Purchases of nondurable goods increased 0.5 percent in July, compared
with an increase of 0.6 percent in June. Purchases of services increased 0.3 percent, compared with
an increase of less than 0.1 percent.
Revisions
Estimates have been revised for April through June. Changes in personal income, current-
dollar and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for May and
June -- revised and as published in last month's release -- are shown below. Revisions for April
were small.
Change from preceding month
May June
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars 39.4 36.0 0.4 0.4 57.0 58.6 0.6 0.7
Disposable personal income:
Current dollars 40.9 38.0 0.5 0.5 55.0 55.4 0.7 0.7
Chained (1996) dollars 40.8 36.7 0.6 0.5 43.6 42.9 0.6 0.6
Personal consumption expenditures:
Current dollars -2.3 -2.0 0.0 0.0 35.6 36.4 0.5 0.5
Chained (1996) dollars 1.6 0.4 0.0 0.0 26.5 26.3 0.4 0.4
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.
New Revision Schedule for Wages and Salaries
In accordance with the new revision schedule announced last month, revised estimates for
wage and salary disbursements and related income-side components for January 2002 through July
2002 will be released along with preliminary estimates for August 2002 on September 30. These
revisions will reflect the incorporation of newly available wage and salary tabulations of
employees covered by state unemployment insurance from the Bureau of Labor Statistics for the
first quarter of 2002. Note that the incorporation of new source data for a given quarter usually
results in a revision to the level of an estimate not only for that quarter but also for subsequent
quarters. The measures that will be revised beginning with January 2002 are 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.
Next release -- Personal Income and Outlays for August will be released on
September 30, 2002 at 8:30 A.M. EDT.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,730.9 8,774.9 8,815.6 8,840.8 8,875.7 8,911.7 8,970.3 8,972.7
Wage and salary disbursements..... 4,948.6 4,949.6 4,965.8 4,980.3 4,977.7 4,995.0 5,032.9 5,022.2
Private industries.............. 4,120.8 4,113.4 4,124.9 4,136.2 4,131.9 4,147.0 4,181.6 4,170.0
Goods-producing industries.... 1,123.0 1,121.0 1,122.3 1,123.2 1,120.2 1,121.0 1,127.1 1,122.9
Manufacturing............... 768.2 765.1 766.1 766.3 765.3 766.8 770.7 767.0
Distributive industries....... 1,102.4 1,100.7 1,105.4 1,111.5 1,107.6 1,112.6 1,120.3 1,114.7
Service industries............ 1,895.4 1,891.6 1,897.2 1,901.5 1,904.1 1,913.4 1,934.2 1,932.3
Government...................... 827.8 836.3 840.9 844.1 845.7 848.0 851.3 852.2
Other labor income................ 577.9 586.1 590.7 595.5 599.8 603.9 608.5 612.6
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 736.8 743.3 750.0 751.9 751.6 745.8 744.3 751.1
Farm............................ 19.4 20.8 21.8 22.5 14.1 5.1 3.3 7.8
Nonfarm......................... 717.4 722.4 728.2 729.4 737.5 740.7 741.0 743.3
Rental income of persons with
capital consumption adjustment... 137.3 139.4 141.3 143.2 148.8 154.4 160.1 154.5
Personal dividend income.......... 419.6 421.8 423.8 425.5 428.0 430.3 432.7 435.0
Personal interest income.......... 1,071.9 1,070.9 1,069.9 1,069.0 1,077.1 1,085.2 1,093.2 1,092.5
Transfer payments to persons...... 1,212.9 1,243.5 1,255.0 1,257.6 1,274.9 1,280.4 1,284.6 1,290.3
Old-age, survivors, disability,
and health insurance benefits.. 678.2 688.7 693.2 688.6 695.1 696.3 697.4 699.3
Government unemployment
insurance benefits............. 42.3 48.1 52.6 56.2 63.3 65.3 65.5 65.6
Other........................... 492.4 506.7 509.1 512.8 516.4 518.9 521.6 525.5
Less: Personal contributions for
social insurance................. 374.0 379.8 381.0 382.1 382.1 383.4 386.0 385.6
Less: Personal tax and nontax
payments........................... 1,312.0 1,145.7 1,141.8 1,138.8 1,132.3 1,130.3 1,133.5 1,124.0
Equals: Disposable personal income.. 7,418.9 7,629.2 7,673.7 7,702.0 7,743.4 7,781.4 7,836.8 7,848.7
Less: Personal outlays.............. 7,325.1 7,355.7 7,408.9 7,424.3 7,465.5 7,468.2 7,509.3 7,579.1
Personal consumption expenditures. 7,097.9 7,130.6 7,186.8 7,205.3 7,241.4 7,239.4 7,275.8 7,346.5
Durable goods................... 856.2 853.6 863.5 859.8 868.5 845.3 858.4 890.1
Nondurable goods................ 2,050.7 2,074.1 2,089.1 2,092.1 2,110.6 2,101.6 2,115.7 2,128.0
Services........................ 4,191.0 4,202.8 4,234.2 4,253.4 4,262.3 4,292.5 4,301.6 4,328.5
Interest paid by persons.......... 196.7 193.7 190.6 187.6 192.3 197.1 201.8 200.9
Personal transfer payments to the
rest of the world (net).......... 30.6 31.5 31.5 31.5 31.7 31.7 31.7 31.7
Equals: Personal saving............. 93.8 273.5 264.8 277.7 277.9 313.2 327.5 269.5
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,761.9 6,941.0 6,968.1 6,978.1 6,987.8 7,024.5 7,067.4 7,066.9
Per capita:
Current dollars............... 25,801 26,509 26,641 26,714 26,830 26,935 27,099 27,109
Chained (1996) dollars........ 23,516 24,118 24,191 24,203 24,212 24,315 24,438 24,409
Population (thousands)\2\....... 287,539 287,798 288,044 288,312 288,605 288,893 289,192 289,518
Personal saving as a percentage
of disposable personal income.... 1.3 3.6 3.5 3.6 3.6 4.0 4.2 3.4
----------------------------------------------------------------------------------------------------------------------------
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.
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 II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,406.6 8,685.3 8,658.1 8,676.2 8,706.2 8,700.9 8,810.4 8,919.2
Wage and salary disbursements..... 4,836.3 4,950.6 4,960.4 4,956.8 4,953.7 4,931.4 4,965.2 5,001.8
Private industries.............. 4,067.4 4,139.8 4,165.2 4,151.0 4,136.6 4,106.2 4,124.8 4,153.5
Goods-producing industries.... 1,163.7 1,142.4 1,156.3 1,150.0 1,140.0 1,123.3 1,122.2 1,122.8
Manufacturing............... 829.4 789.4 807.2 797.1 783.4 769.9 765.8 767.6
Distributive industries....... 1,094.8 1,109.2 1,115.0 1,112.3 1,110.8 1,098.6 1,105.9 1,113.5
Service industries............ 1,808.9 1,888.2 1,893.9 1,888.8 1,885.8 1,884.3 1,896.8 1,917.2
Government...................... 768.9 810.8 795.2 805.8 817.1 825.2 840.4 848.3
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.......... 714.8 727.9 721.2 726.6 732.4 731.3 748.4 747.2
Farm............................ 22.6 19.0 19.3 18.4 19.3 19.2 21.7 7.5
Nonfarm......................... 692.2 708.8 701.9 708.2 713.1 712.1 726.7 739.7
Rental income of persons with
capital consumption adjustment... 146.6 137.9 137.0 134.3 140.8 139.3 141.3 154.5
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 1,085.2
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 1,280.0
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 64.7
Other........................... 432.5 474.2 457.9 469.7 479.3 490.0 509.5 519.0
Less: Personal contributions for
social insurance................. 358.4 372.3 371.1 372.2 373.1 372.7 380.9 383.8
Less: Personal tax and nontax
payments........................... 1,286.4 1,292.1 1,340.6 1,336.1 1,181.9 1,309.7 1,142.1 1,132.0
Equals: Disposable personal income.. 7,120.2 7,393.2 7,317.5 7,340.0 7,524.2 7,391.2 7,668.3 7,787.2
Less: Personal outlays.............. 6,918.6 7,223.5 7,143.9 7,198.5 7,222.0 7,329.6 7,396.3 7,481.0
Personal consumption expenditures. 6,683.7 6,987.0 6,904.7 6,959.8 6,983.7 7,099.9 7,174.2 7,252.2
Durable goods................... 803.9 835.9 816.8 820.3 824.0 882.6 859.0 857.4
Nondurable goods................ 1,972.9 2,041.3 2,031.5 2,044.8 2,044.3 2,044.4 2,085.1 2,109.3
Services........................ 3,906.9 4,109.9 4,056.4 4,094.7 4,115.4 4,172.9 4,230.1 4,285.5
Interest paid by persons.......... 205.4 205.4 208.3 207.7 206.5 199.1 190.6 197.1
Personal transfer payments to the
rest of the world (net).......... 29.5 31.1 30.9 30.9 31.8 30.6 31.5 31.7
Equals: Personal saving............. 201.5 169.7 173.7 141.6 302.2 61.5 272.0 306.2
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 6,962.5 7,026.6
Per capita:
Current dollars............... 25,205 25,859 25,713 25,717 26,275 25,729 26,621 26,955
Chained (1996) dollars........ 23,471 23,602 23,558 23,456 23,970 23,424 24,171 24,322
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 3.9
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 44.2 44.0 40.7 25.2 34.9 36.0 58.6 2.4
Wage and salary disbursements..... 26.3 1.0 16.2 14.5 -2.6 17.3 37.9 -10.7
Private industries.............. 23.2 -7.4 11.5 11.3 -4.3 15.1 34.6 -11.6
Goods-producing industries.... 1.3 -2.0 1.3 .9 -3.0 .8 6.1 -4.2
Manufacturing............... -.4 -3.1 1.0 .2 -1.0 1.5 3.9 -3.7
Distributive industries....... 6.3 -1.7 4.7 6.1 -3.9 5.0 7.7 -5.6
Service industries............ 15.6 -3.8 5.6 4.3 2.6 9.3 20.8 -1.9
Government...................... 3.2 8.5 4.6 3.2 1.6 2.3 3.3 .9
Other labor income................ 1.7 8.2 4.6 4.8 4.3 4.1 4.6 4.1
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 7.4 6.5 6.7 1.9 -.3 -5.8 -1.5 6.8
Farm............................ .2 1.4 1.0 .7 -8.4 -9.0 -1.8 4.5
Nonfarm......................... 7.2 5.0 5.8 1.2 8.1 3.2 .3 2.3
Rental income of persons with
capital consumption adjustment... -2.3 2.1 1.9 1.9 5.6 5.6 5.7 -5.6
Personal dividend income.......... 2.4 2.2 2.0 1.7 2.5 2.3 2.4 2.3
Personal interest income.......... -.3 -1.0 -1.0 -.9 8.1 8.1 8.0 -.7
Transfer payments to persons...... 11.0 30.6 11.5 2.6 17.3 5.5 4.2 5.7
Old-age, survivors, disability,
and health insurance benefits.. 4.7 10.5 4.5 -4.6 6.5 1.2 1.1 1.9
Government unemployment
insurance benefits............. 3.3 5.8 4.5 3.6 7.1 2.0 .2 .1
Other............................ 3.0 14.3 2.4 3.7 3.6 2.5 2.7 3.9
Less: Personal contributions for
social insurance................. 1.9 5.8 1.2 1.1 .0 1.3 2.6 -.4
Less: Personal tax and nontax
payments........................... 7.5 -166.3 -3.9 -3.0 -6.5 -2.0 3.2 -9.5
Equals: Disposable personal income.. 36.7 210.3 44.5 28.3 41.4 38.0 55.4 11.9
Less: Personal outlays.............. 8.2 30.6 53.2 15.4 41.2 2.7 41.1 69.8
Personal consumption expenditures. 10.5 32.7 56.2 18.5 36.1 -2.0 36.4 70.7
Durable goods................... -22.2 -2.6 9.9 -3.7 8.7 -23.2 13.1 31.7
Nondurable goods................ 14.6 23.4 15.0 3.0 18.5 -9.0 14.1 12.3
Services........................ 18.2 11.8 31.4 19.2 8.9 30.2 9.1 26.9
Interest paid by persons.......... -2.2 -3.0 -3.1 -3.0 4.7 4.8 4.7 -.9
Personal transfer payments to the
rest of the world (net).......... .0 .9 .0 .0 .2 .0 .0 .0
Equals: Personal saving............. 28.5 179.7 -8.7 12.9 .2 35.3 14.3 -58.0
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 43.2 179.1 27.1 10.0 9.7 36.7 42.9 -.5
----------------------------------------------------------------------------------------------------------------------------
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 I 01 II 01 III 01 IV 01 I 02 II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 620.1 278.7 81.5 18.1 30.0 -5.3 109.5 108.8
Wage and salary disbursements..... 365.9 114.3 42.6 -3.6 -3.1 -22.3 33.8 36.6
Private industries.............. 321.1 72.4 25.3 -14.2 -14.4 -30.4 18.6 28.7
Goods-producing industries.... 75.1 -21.3 -6.7 -6.3 -10.0 -16.7 -1.1 .6
Manufacturing............... 47.4 -40.0 -13.1 -10.1 -13.7 -13.5 -4.1 1.8
Distributive industries....... 74.0 14.4 5.2 -2.7 -1.5 -12.2 7.3 7.6
Service industries............ 172.0 79.3 26.9 -5.1 -3.0 -1.5 12.5 20.4
Government...................... 44.7 41.9 17.3 10.6 11.3 8.1 15.2 7.9
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 -1.2
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 13.0
Rental income of persons with
capital consumption adjustment... -2.5 -8.7 -6.5 -2.7 6.5 -1.5 2.0 13.2
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 15.3
Transfer payments to persons...... 51.8 100.1 40.8 24.1 23.4 22.5 47.0 28.0
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 12.4
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 8.2 2.9
Less: Personal tax and nontax
payments........................... 127.3 5.7 23.9 -4.5 -154.2 127.8 -167.6 -10.1
Equals: Disposable personal income.. 492.8 273.0 57.7 22.5 184.2 -133.0 277.1 118.9
Less: Personal outlays.............. 465.3 304.9 91.8 54.6 23.5 107.6 66.7 84.7
Personal consumption expenditures. 437.2 303.3 96.7 55.1 23.9 116.2 74.3 78.0
Durable goods................... 48.0 32.0 19.6 3.5 3.7 58.6 -23.6 -1.6
Nondurable goods................ 142.8 68.4 20.4 13.3 -.5 .1 40.7 24.2
Services........................ 246.4 203.0 56.7 38.3 20.7 57.5 57.2 55.4
Interest paid by persons.......... 25.9 .0 -4.9 -.6 -1.2 -7.4 -8.5 6.5
Personal transfer payments to the
rest of the world (net).......... 2.2 1.6 .0 .0 .9 -1.2 .9 .2
Equals: Personal saving............. 27.5 -31.8 -34.0 -32.1 160.6 -240.7 210.5 34.2
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 301.9 117.7 -1.9 -9.5 169.2 -134.9 233.4 64.1
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... .5 .5 .5 .3 .4 .4 .7 .0
Wage and salary disbursements..... .5 .0 .3 .3 -.1 .3 .8 -.2
Other labor income................ .3 1.4 .8 .8 .7 .7 .8 .7
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 1.0 .9 .9 .3 .0 -.8 -.2 .9
Rental income of persons with
capital consumption adjustment... -1.6 1.6 1.3 1.4 3.9 3.8 3.7 -3.5
Personal dividend income.......... .6 .5 .5 .4 .6 .5 .5 .5
Personal interest income.......... .0 -.1 -.1 -.1 .8 .7 .7 -.1
Transfer payments to persons...... .9 2.5 .9 .2 1.4 .4 .3 .4
Less: Personal contributions for
social insurance................. .5 1.5 .3 .3 .0 .3 .7 -.1
Less: Personal tax and nontax
payments........................... .6 -12.7 -.3 -.3 -.6 -.2 .3 -.8
Equals: Disposable personal income.. .5 2.8 .6 .4 .5 .5 .7 .2
Addenda:
Personal consumption expenditures. .1 .5 .8 .3 .5 .0 .5 1.0
Durable goods................... -2.5 -.3 1.2 -.4 1.0 -2.7 1.6 3.7
Nondurable goods................ .7 1.1 .7 .1 .9 -.4 .7 .6
Services........................ .4 .3 .7 .5 .2 .7 .2 .6
Disposable personal income, based
on chained (1996) dollars........ .6 2.6 .4 .1 .1 .5 .6 .0
----------------------------------------------------------------------------------------------------------------------------
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 I 01 II 01 III 01 IV 01 I 02 II 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8.0 3.3 3.9 .8 1.4 -.2 5.1 5.0
Wage and salary disbursements..... 8.2 2.4 3.5 -.3 -.3 -1.8 2.8 3.0
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 -.6
Rental income of persons with
capital consumption adjustment... -1.7 -6.0 -16.9 -7.8 20.9 -4.3 5.9 42.7
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 5.8
Transfer payments to persons...... 5.1 9.4 15.8 8.8 8.3 7.8 16.5 9.2
Less: Personal contributions for
social insurance................. 6.2 3.9 9.2 1.1 1.0 -.4 9.2 3.1
Less: Personal tax and nontax
payments........................... 11.0 .4 7.4 -1.3 -38.8 50.8 -42.2 -3.5
Equals: Disposable personal income.. 7.4 3.8 3.2 1.2 10.4 -6.9 15.9 6.3
Addenda:
Personal consumption expenditures. 7.0 4.5 5.8 3.2 1.4 6.8 4.3 4.4
Durable goods................... 6.4 4.0 10.2 1.7 1.8 31.6 -10.3 -.7
Nondurable goods................ 7.8 3.5 4.1 2.6 -.1 .0 8.2 4.7
Services........................ 6.7 5.2 5.8 3.8 2.0 5.7 5.6 5.3
Disposable personal income, based
on chained (1996) dollars........ 4.8 1.8 -.1 -.6 10.5 -7.6 14.6 3.7
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,469.3 6,487.4 6,526.0 6,528.1 6,534.8 6,535.2 6,561.5 6,614.8
Durable goods..................... 962.4 963.6 982.9 981.2 992.8 966.4 984.4 1,023.0
Nondurable goods.................. 1,904.4 1,920.5 1,926.1 1,917.5 1,915.6 1,919.5 1,930.7 1,940.6
Services.......................... 3,626.3 3,627.3 3,644.0 3,655.2 3,654.7 3,671.3 3,672.3 3,684.8
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 19.0 18.1 38.6 2.1 6.7 .4 26.3 53.3
Durable goods..................... -24.7 1.2 19.3 -1.7 11.6 -26.4 18.0 38.6
Nondurable goods.................. 27.2 16.1 5.6 -8.6 -1.9 3.9 11.2 9.9
Services.......................... 11.6 1.0 16.7 11.2 -.5 16.6 1.0 12.5
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .3 .3 .6 .0 .1 .0 .4 .8
Durable goods..................... -2.5 .1 2.0 -.2 1.2 -2.7 1.9 3.9
Nondurable goods.................. 1.5 .8 .3 -.4 -.1 .2 .6 .5
Services.......................... .3 .0 .5 .3 .0 .5 .0 .3
----------------------------------------------------------------------------------------------------------------------------
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 6,543.8
Durable goods..................... 878.9 931.9 900.6 912.4 922.6 992.0 975.9 981.2
Nondurable goods.................. 1,833.8 1,869.8 1,863.7 1,862.3 1,868.3 1,885.0 1,921.4 1,921.9
Services.......................... 3,524.5 3,594.9 3,576.3 3,589.3 3,597.5 3,616.6 3,642.2 3,666.1
----------------------------------------------------------------------------------------
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 30.0
Durable goods..................... 66.4 53.0 24.1 11.8 10.2 69.4 -16.1 5.3
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 23.9
----------------------------------------------------------------------------------------
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 1.9
Durable goods..................... 8.2 6.0 11.5 5.3 4.6 33.6 -6.3 2.2
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)
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 109.72 109.92 110.13 110.38 110.82 110.78 110.89 111.06
Durable goods..................... 88.94 88.56 87.83 87.60 87.46 87.45 87.18 86.98
Nondurable goods.................. 107.67 107.99 108.46 109.10 110.17 109.49 109.58 109.65
Services.......................... 115.58 115.87 116.20 116.37 116.63 116.92 117.14 117.47
Addendum:
Personal consumption expenditures
less food and energy............. 109.60 109.72 109.97 110.03 110.27 110.33 110.44 110.60
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... -.1 .2 .2 .2 .4 .0 .1 .2
Durable goods..................... .0 -.4 -.8 -.3 -.2 .0 -.3 -.2
Nondurable goods.................. -.7 .3 .4 .6 1.0 -.6 .1 .1
Services.......................... .1 .3 .3 .1 .2 .3 .2 .3
Addendum:
Personal consumption expenditures
less food and energy............. .0 .1 .2 .1 .2 .1 .1 .1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... .7 3.5 4.0 4.0 4.2 5.1 5.7 4.0
Personal consumption expenditures... 2.5 2.4 3.2 3.3 3.2 2.9 3.2 3.8
Durable goods..................... 10.0 7.9 8.5 8.7 10.0 6.3 6.4 10.5
Nondurable goods.................. 2.4 2.3 3.4 3.5 3.0 2.9 3.8 3.7
Services.......................... 1.1 1.4 2.0 2.1 1.9 2.2 2.3 2.5
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... 1.2 .8 .8 1.0 1.3 1.0 1.0 1.2
Durable goods..................... -2.1 -2.7 -3.1 -3.0 -3.0 -2.6 -2.8 -3.0
Nondurable goods.................. -.8 -.8 -.7 .1 .6 -.4 -.4 .3
Services.......................... 2.9 2.4 2.4 2.4 2.5 2.4 2.5 2.4
Addendum:
Personal consumption expenditures
less food and energy............. 1.8 1.5 1.6 1.5 1.6 1.7 1.6 1.4
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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