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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-36
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: OCTOBER 2002
Personal income increased $7.7 billion, or 0.1 percent, and disposable personal income (DPI)
increased $14.2 billion, or 0.2 percent, in October, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $26.9 billion, or 0.4 percent. In September,
personal income increased $37.5 billion, or 0.4 percent, DPI increased $37.3 billion, or 0.5 percent, and
PCE decreased $31.4 billion, or 0.4 percent, based on revised estimates.
2002
June July Aug. Sept. Oct.
(Percent change from preceding month)
Personal income, current dollars 0.7 0.0 0.3 0.4 0.1
Disposable personal income:
Current dollars 0.7 0.1 0.4 0.5 0.2
Chained (1996) dollars 0.6 0.0 0.1 0.3 0.0
Personal consumption expenditures:
Current dollars 0.4 1.1 0.3 -0.4 0.4
Chained (1996) dollars 0.3 0.9 0.1 -0.6 0.2
Wages and salaries
Private wage and salary disbursements decreased $1.0 billion in October, in contrast to an
increase of $26.9 billion in September. Goods-producing industries' payrolls decreased $3.2 billion,
in contrast to an increase of $1.8 billion; manufacturing payrolls decreased $1.5 billion, in contrast
to an increase of $0.1 billion. Distributive industries' payrolls decreased $4.9 billion, in contrast to
an increase of $5.1 billion. Service industries' payrolls increased $7.1 billion, compared with an
increase of $20.1 billion. Government wage and salary disbursements increased $2.9 billion,
compared with an increase of $2.3 billion.
Other personal income
Proprietors' income increased $1.9 billion in October, compared with an increase of $7.4 billion
in September. Farm proprietors' income decreased $2.3 billion, in contrast to an increase of $3.0
billion. Nonfarm proprietors' income increased $4.1 billion, compared with an increase of $4.4
billion.
Transfer payments increased $0.4 billion in October, compared with an increase of $7.4 billion
in September. Personal interest income decreased $1.1 billion, compared with a decrease of $3.1
billion. Personal dividend income increased $2.2 billion, compared with an increase of $2.1 billion.
Rental income of persons decreased $1.7 billion, compared with a decrease of $8.1 billion.
Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $0.2 billion in October, compared with an increase of $2.1 billion in September.
Personal taxes and disposable personal income
Personal tax and nontax payments decreased $6.6 billion in October, in contrast to an increase
of $0.1 billion in September. Disposable personal income (DPI) -- personal income less personal tax
and nontax payments -- increased $14.2 billion, or 0.2 percent, in October, compared with an
increase of $37.3 billion, or 0.5 percent, in September.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $25.8 billion in October, in contrast to a decrease of $34.3 billion in
September. PCE increased $26.9 billion, in contrast to a decrease of $31.4 billion.
Personal saving -- DPI less personal outlays -- was $335.3 billion in October, compared with
$346.9 billion in September. Personal saving as a percentage of disposable personal income was 4.2
percent in October, compared with 4.4 percent in September.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- decreased less than 0.1 percent in October,
in contrast to an increase of 0.3 percent in September.
Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in October, in
contrast to a decrease of 0.6 percent in September. Purchases of durable goods decreased 0.9
percent, compared with a decrease of 5.1 percent. Purchases of motor vehicles and parts more than
accounted for the October decrease and accounted for most of the September decrease. Purchases of
nondurable goods increased 0.5 percent in October, in contrast to a decrease of 0.3 percent in
September. Purchases of services increased 0.2 percent in October, the same increase as in
September.
Revisions
Estimates have been revised for July through September. Changes in personal income, current-
dollar and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for August
and September -- revised and as published in last month's release -- are shown below. Revisions for
July were small.
Change from preceding month
August September
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars........... 26.3 28.2 0.3 0.3 37.0 37.5 0.4 0.4
Disposable personal income:
Current dollars........... 26.9 28.5 0.3 0.4 36.8 37.3 0.5 0.5
Chained (1996) dollars.... 7.1 8.6 0.1 0.1 18.3 19.3 0.3 0.3
Personal consumption expenditures:
Current dollars........... 30.2 25.1 0.4 0.3 -29.6 -31.4 -0.4 -0.4
Chained (1996) dollars.... 11.2 6.5 0.2 0.1 -40.3 -41.2 -0.6 -0.6
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 November will be released on
December 23, 2002, at 8:30 A.M. EST.
Release dates in 2003
December 2002..... January 31 April 2003..... May 30 August 2003........ September 29
January 2003...... March 3 May 2003....... June 27 September 2003..... October 31
February 2003..... March 28 June 2003...... August 1 October 2003....... November 26
March 2003........ April 28 July 2003...... August 29 November 2003...... December 23
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,836.3 8,869.2 8,906.0 8,966.0 8,963.7 8,991.9 9,029.4 9,037.1
Wage and salary disbursements..... 4,975.4 4,972.7 4,990.1 5,028.0 5,013.2 5,041.7 5,070.9 5,072.8
Private industries.............. 4,131.4 4,126.9 4,141.8 4,177.1 4,159.6 4,184.0 4,210.9 4,209.9
Goods-producing industries.... 1,119.4 1,116.4 1,117.1 1,123.1 1,117.0 1,122.8 1,124.6 1,121.4
Manufacturing............... 760.2 759.1 760.6 764.7 759.3 761.6 761.7 760.2
Distributive industries....... 1,117.1 1,113.2 1,118.1 1,126.6 1,119.2 1,123.7 1,128.8 1,123.9
Service industries............ 1,894.8 1,897.4 1,906.6 1,927.4 1,923.4 1,937.4 1,957.5 1,964.6
Government...................... 844.1 845.8 848.3 851.0 853.6 857.7 860.0 862.9
Other labor income................ 595.5 599.8 603.9 608.5 613.0 617.5 622.1 626.4
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 751.9 751.4 746.0 745.1 755.2 757.4 764.8 766.7
Farm............................ 22.5 14.0 5.1 3.3 7.7 10.8 13.8 11.5
Nonfarm......................... 729.4 737.4 740.9 741.7 747.6 746.7 751.1 755.2
Rental income of persons with
capital consumption adjustment... 143.2 148.3 153.5 158.7 153.3 144.9 136.8 135.1
Personal dividend income.......... 425.5 428.0 430.3 432.7 435.0 437.3 439.4 441.6
Personal interest income.......... 1,069.0 1,075.7 1,082.3 1,088.9 1,085.8 1,082.9 1,079.8 1,078.7
Transfer payments to persons...... 1,257.6 1,275.0 1,282.9 1,289.9 1,293.1 1,297.1 1,304.5 1,304.9
Old-age, survivors, disability,
and health insurance benefits.. 688.6 695.1 696.3 697.4 699.2 701.9 704.6 703.2
Government unemployment
insurance benefits............. 56.2 63.5 67.7 70.8 68.1 66.8 67.7 66.9
Other........................... 512.8 516.4 518.9 521.7 525.8 528.4 532.3 534.8
Less: Personal contributions for
social insurance................. 381.8 381.8 383.1 385.7 384.9 386.9 389.0 389.2
Less: Personal tax and nontax
payments........................... 1,134.0 1,127.4 1,125.4 1,128.7 1,118.1 1,117.9 1,118.0 1,111.4
Equals: Disposable personal income.. 7,702.2 7,741.7 7,780.6 7,837.4 7,845.6 7,874.1 7,911.4 7,925.6
Less: Personal outlays.............. 7,424.3 7,464.1 7,467.9 7,501.8 7,576.7 7,598.8 7,564.5 7,590.3
Personal consumption expenditures. 7,205.3 7,242.7 7,244.6 7,276.7 7,354.2 7,379.3 7,347.9 7,374.8
Durable goods................... 859.8 868.2 845.2 857.4 902.0 919.6 873.2 864.2
Nondurable goods................ 2,092.1 2,110.9 2,101.9 2,111.7 2,117.3 2,116.7 2,115.2 2,130.7
Services........................ 4,253.4 4,263.5 4,297.4 4,307.6 4,334.9 4,343.0 4,359.5 4,379.8
Interest paid by persons.......... 187.6 189.4 191.3 193.2 190.2 187.2 184.3 183.3
Personal transfer payments to the
rest of the world (net).......... 31.5 31.9 31.9 31.9 32.3 32.3 32.3 32.3
Equals: Personal saving............. 277.9 277.7 312.7 335.6 268.9 275.3 346.9 335.3
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,978.3 6,983.3 7,020.1 7,062.8 7,060.8 7,069.4 7,088.7 7,086.5
Per capita:
Current dollars............... 26,867 26,987 27,104 27,281 27,287 27,363 27,468 27,470
Chained (1996) dollars........ 24,342 24,344 24,455 24,585 24,558 24,566 24,612 24,562
Population (thousands)\2\....... 286,681 286,865 287,067 287,284 287,519 287,768 288,024 288,519
Personal saving as a percentage
of disposable personal income.... 3.6 3.6 4.0 4.3 3.4 3.5 4.4 4.2
----------------------------------------------------------------------------------------------------------------------------
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.
Table 2.--Personal Income and Its Disposition (Years and Quarters)
[Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 II 01 III 01 IV 01 I 02 II 02 III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,406.6 8,685.3 8,676.2 8,706.2 8,700.9 8,803.4 8,913.7 8,995.0
Wage and salary disbursements..... 4,836.3 4,950.6 4,956.8 4,953.7 4,931.4 4,957.8 4,997.0 5,041.9
Private industries.............. 4,067.4 4,139.8 4,151.0 4,136.6 4,106.2 4,117.4 4,148.6 4,184.8
Goods-producing industries.... 1,163.7 1,142.4 1,150.0 1,140.0 1,123.3 1,116.9 1,118.9 1,121.5
Manufacturing............... 829.4 789.4 797.1 783.4 769.9 759.4 761.5 760.9
Distributive industries....... 1,094.8 1,109.2 1,112.3 1,110.8 1,098.6 1,110.1 1,119.3 1,123.9
Service industries............ 1,808.9 1,888.2 1,888.8 1,885.8 1,884.3 1,890.4 1,910.5 1,939.4
Government...................... 768.9 810.8 805.8 817.1 825.2 840.4 848.4 857.1
Other labor income................ 544.2 570.4 568.2 572.4 576.3 590.8 604.1 617.5
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 714.8 727.9 726.6 732.4 731.3 748.4 747.5 759.2
Farm............................ 22.6 19.0 18.4 19.3 19.2 21.7 7.5 10.7
Nonfarm......................... 692.2 708.8 708.2 713.1 712.1 726.7 740.0 748.4
Rental income of persons with
capital consumption adjustment... 146.6 137.9 134.3 140.8 139.3 141.3 153.5 145.0
Personal dividend income.......... 375.7 409.2 406.0 411.0 417.3 423.7 430.3 437.3
Personal interest income.......... 1,077.0 1,091.3 1,097.2 1,086.4 1,072.9 1,069.9 1,082.3 1,082.8
Transfer payments to persons...... 1,070.3 1,170.4 1,159.1 1,182.5 1,205.0 1,252.0 1,282.6 1,298.3
Old-age, survivors, disability,
and health insurance benefits.. 617.2 664.3 660.2 670.1 674.0 690.2 696.3 701.9
Government unemployment
insurance benefits............. 20.5 31.9 29.2 33.1 41.0 52.3 67.3 67.5
Other........................... 432.5 474.2 469.7 479.3 490.0 509.5 519.0 528.8
Less: Personal contributions for
social insurance................. 358.4 372.3 372.2 373.1 372.7 380.5 383.5 386.9
Less: Personal tax and nontax
payments........................... 1,286.4 1,292.1 1,336.1 1,181.9 1,309.7 1,136.8 1,127.2 1,118.0
Equals: Disposable personal income.. 7,120.2 7,393.2 7,340.0 7,524.2 7,391.2 7,666.7 7,786.6 7,877.0
Less: Personal outlays.............. 6,918.6 7,223.5 7,198.5 7,222.0 7,329.6 7,396.3 7,477.9 7,580.0
Personal consumption expenditures. 6,683.7 6,987.0 6,959.8 6,983.7 7,099.9 7,174.2 7,254.7 7,360.5
Durable goods................... 803.9 835.9 820.3 824.0 882.6 859.0 856.9 898.3
Nondurable goods................ 1,972.9 2,041.3 2,044.8 2,044.3 2,044.4 2,085.1 2,108.2 2,116.4
Services........................ 3,906.9 4,109.9 4,094.7 4,115.4 4,172.9 4,230.1 4,289.5 4,345.8
Interest paid by persons.......... 205.4 205.4 207.7 206.5 199.1 190.6 191.3 187.2
Personal transfer payments to the
rest of the world (net).......... 29.5 31.1 30.9 31.8 30.6 31.5 31.9 32.3
Equals: Personal saving............. 201.5 169.7 141.6 302.2 61.5 270.4 308.7 297.0
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,630.3 6,748.0 6,694.8 6,864.0 6,729.1 6,961.0 7,022.1 7,073.0
Per capita:
Current dollars............... 25,237 25,957 25,805 26,387 25,853 26,759 27,124 27,373
Chained (1996) dollars........ 23,501 23,692 23,537 24,071 23,537 24,296 24,461 24,579
Population (thousands)\2\....... 282,128 284,822 284,442 285,154 285,898 286,507 287,072 287,770
Personal saving as a percentage
of disposable personal income.... 2.8 2.3 1.9 4.0 .8 3.5 4.0 3.8
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 29.1 32.9 36.8 60.0 -2.3 28.2 37.5 7.7
Wage and salary disbursements..... 18.5 -2.7 17.4 37.9 -14.8 28.5 29.2 1.9
Private industries.............. 15.4 -4.5 14.9 35.3 -17.5 24.4 26.9 -1.0
Goods-producing industries.... 3.3 -3.0 .7 6.0 -6.1 5.8 1.8 -3.2
Manufacturing............... 1.2 -1.1 1.5 4.1 -5.4 2.3 .1 -1.5
Distributive industries....... 7.5 -3.9 4.9 8.5 -7.4 4.5 5.1 -4.9
Service industries............ 4.5 2.6 9.2 20.8 -4.0 14.0 20.1 7.1
Government...................... 3.2 1.7 2.5 2.7 2.6 4.1 2.3 2.9
Other labor income................ 4.8 4.3 4.1 4.6 4.5 4.5 4.6 4.3
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 1.9 -.5 -5.4 -.9 10.1 2.2 7.4 1.9
Farm............................ .7 -8.5 -8.9 -1.8 4.4 3.1 3.0 -2.3
Nonfarm......................... 1.2 8.0 3.5 .8 5.9 -.9 4.4 4.1
Rental income of persons with
capital consumption adjustment... 1.9 5.1 5.2 5.2 -5.4 -8.4 -8.1 -1.7
Personal dividend income.......... 1.7 2.5 2.3 2.4 2.3 2.3 2.1 2.2
Personal interest income.......... -.9 6.7 6.6 6.6 -3.1 -2.9 -3.1 -1.1
Transfer payments to persons...... 2.6 17.4 7.9 7.0 3.2 4.0 7.4 .4
Old-age, survivors, disability,
and health insurance benefits.. -4.6 6.5 1.2 1.1 1.8 2.7 2.7 -1.4
Government unemployment
insurance benefits............. 3.6 7.3 4.2 3.1 -2.7 -1.3 .9 -.8
Other............................ 3.7 3.6 2.5 2.8 4.1 2.6 3.9 2.5
Less: Personal contributions for
social insurance................. 1.4 .0 1.3 2.6 -.8 2.0 2.1 .2
Less: Personal tax and nontax
payments........................... -2.1 -6.6 -2.0 3.3 -10.6 -.2 .1 -6.6
Equals: Disposable personal income.. 31.1 39.5 38.9 56.8 8.2 28.5 37.3 14.2
Less: Personal outlays.............. 15.4 39.8 3.8 33.9 74.9 22.1 -34.3 25.8
Personal consumption expenditures. 18.5 37.4 1.9 32.1 77.5 25.1 -31.4 26.9
Durable goods................... -3.7 8.4 -23.0 12.2 44.6 17.6 -46.4 -9.0
Nondurable goods................ 3.0 18.8 -9.0 9.8 5.6 -.6 -1.5 15.5
Services........................ 19.2 10.1 33.9 10.2 27.3 8.1 16.5 20.3
Interest paid by persons.......... -3.0 1.8 1.9 1.9 -3.0 -3.0 -2.9 -1.0
Personal transfer payments to the
rest of the world (net).......... .0 .4 .0 .0 .4 .0 .0 .0
Equals: Personal saving............. 15.7 -.2 35.0 22.9 -66.7 6.4 71.6 -11.6
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 12.6 5.0 36.8 42.7 -2.0 8.6 19.3 -2.2
----------------------------------------------------------------------------------------------------------------------------
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 II 01 III 01 IV 01 I 02 II 02 III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 620.1 278.7 18.1 30.0 -5.3 102.5 110.3 81.3
Wage and salary disbursements..... 365.9 114.3 -3.6 -3.1 -22.3 26.4 39.2 44.9
Private industries.............. 321.1 72.4 -14.2 -14.4 -30.4 11.2 31.2 36.2
Goods-producing industries.... 75.1 -21.3 -6.3 -10.0 -16.7 -6.4 2.0 2.6
Manufacturing............... 47.4 -40.0 -10.1 -13.7 -13.5 -10.5 2.1 -.6
Distributive industries....... 74.0 14.4 -2.7 -1.5 -12.2 11.5 9.2 4.6
Service industries............ 172.0 79.3 -5.1 -3.0 -1.5 6.1 20.1 28.9
Government...................... 44.7 41.9 10.6 11.3 8.1 15.2 8.0 8.7
Other labor income................ 34.0 26.2 3.5 4.2 3.9 14.5 13.3 13.4
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 36.4 13.1 5.4 5.8 -1.1 17.1 -.9 11.7
Farm............................ -5.1 -3.6 -.9 .9 -.1 2.5 -14.2 3.2
Nonfarm......................... 41.5 16.6 6.3 4.9 -1.0 14.6 13.3 8.4
Rental income of persons with
capital consumption adjustment... -2.5 -8.7 -2.7 6.5 -1.5 2.0 12.2 -8.5
Personal dividend income.......... 47.7 33.5 3.5 5.0 6.3 6.4 6.6 7.0
Personal interest income.......... 107.8 14.3 -11.2 -10.8 -13.5 -3.0 12.4 .5
Transfer payments to persons...... 51.8 100.1 24.1 23.4 22.5 47.0 30.6 15.7
Old-age, survivors, disability,
and health insurance benefits.. 29.2 47.1 7.3 9.9 3.9 16.2 6.1 5.6
Government unemployment
insurance benefits............. .2 11.4 5.0 3.9 7.9 11.3 15.0 .2
Other............................ 22.3 41.7 11.8 9.6 10.7 19.5 9.5 9.8
Less: Personal contributions for
social insurance................. 21.0 13.9 1.1 .9 -.4 7.8 3.0 3.4
Less: Personal tax and nontax
payments........................... 127.3 5.7 -4.5 -154.2 127.8 -172.9 -9.6 -9.2
Equals: Disposable personal income.. 492.8 273.0 22.5 184.2 -133.0 275.5 119.9 90.4
Less: Personal outlays.............. 465.3 304.9 54.6 23.5 107.6 66.7 81.6 102.1
Personal consumption expenditures. 437.2 303.3 55.1 23.9 116.2 74.3 80.5 105.8
Durable goods................... 48.0 32.0 3.5 3.7 58.6 -23.6 -2.1 41.4
Nondurable goods................ 142.8 68.4 13.3 -.5 .1 40.7 23.1 8.2
Services........................ 246.4 203.0 38.3 20.7 57.5 57.2 59.4 56.3
Interest paid by persons.......... 25.9 .0 -.6 -1.2 -7.4 -8.5 .7 -4.1
Personal transfer payments to the
rest of the world (net).......... 2.2 1.6 .0 .9 -1.2 .9 .4 .4
Equals: Personal saving............. 27.5 -31.8 -32.1 160.6 -240.7 208.9 38.3 -11.7
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 301.9 117.7 -9.5 169.2 -134.9 231.9 61.1 50.9
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... .3 .4 .4 .7 .0 .3 .4 .1
Wage and salary disbursements..... .4 -.1 .3 .8 -.3 .6 .6 .0
Other labor income................ .8 .7 .7 .8 .7 .7 .7 .7
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... .3 -.1 -.7 -.1 1.4 .3 1.0 .2
Rental income of persons with
capital consumption adjustment... 1.4 3.6 3.5 3.4 -3.4 -5.4 -5.6 -1.2
Personal dividend income.......... .4 .6 .5 .5 .5 .5 .5 .5
Personal interest income.......... -.1 .6 .6 .6 -.3 -.3 -.3 -.1
Transfer payments to persons...... .2 1.4 .6 .5 .2 .3 .6 .0
Less: Personal contributions for
social insurance................. .4 .0 .3 .7 -.2 .5 .5 .1
Less: Personal tax and nontax
payments........................... -.2 -.6 -.2 .3 -.9 .0 .0 -.6
Equals: Disposable personal income.. .4 .5 .5 .7 .1 .4 .5 .2
Addenda:
Personal consumption expenditures. .3 .5 .0 .4 1.1 .3 -.4 .4
Durable goods................... -.4 1.0 -2.7 1.4 5.2 2.0 -5.1 -1.0
Nondurable goods................ .1 .9 -.4 .5 .3 .0 -.1 .7
Services........................ .5 .2 .8 .2 .6 .2 .4 .5
Disposable personal income, based
on chained (1996) dollars........ .2 .1 .5 .6 .0 .1 .3 .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 II 01 III 01 IV 01 I 02 II 02 III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8.0 3.3 .8 1.4 -.2 4.8 5.1 3.7
Wage and salary disbursements..... 8.2 2.4 -.3 -.3 -1.8 2.2 3.2 3.6
Other labor income................ 6.7 4.8 2.5 3.0 2.8 10.4 9.3 9.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 5.4 1.8 3.0 3.3 -.6 9.7 -.5 6.4
Rental income of persons with
capital consumption adjustment... -1.7 -6.0 -7.8 20.9 -4.3 5.9 39.3 -20.4
Personal dividend income.......... 14.5 8.9 3.6 5.0 6.3 6.3 6.4 6.6
Personal interest income.......... 11.1 1.3 -4.0 -3.9 -4.9 -1.1 4.7 .2
Transfer payments to persons...... 5.1 9.4 8.8 8.3 7.8 16.5 10.1 5.0
Less: Personal contributions for
social insurance................. 6.2 3.9 1.1 1.0 -.4 8.6 3.3 3.6
Less: Personal tax and nontax
payments........................... 11.0 .4 -1.3 -38.8 50.8 -43.3 -3.3 -3.2
Equals: Disposable personal income.. 7.4 3.8 1.2 10.4 -6.9 15.8 6.4 4.7
Addenda:
Personal consumption expenditures. 7.0 4.5 3.2 1.4 6.8 4.3 4.6 6.0
Durable goods................... 6.4 4.0 1.7 1.8 31.6 -10.3 -.9 20.7
Nondurable goods................ 7.8 3.5 2.6 -.1 .0 8.2 4.5 1.6
Services........................ 6.7 5.2 3.8 2.0 5.7 5.6 5.7 5.4
Disposable personal income, based
on chained (1996) dollars........ 4.8 1.8 -.6 10.5 -7.6 14.5 3.6 2.9
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,528.1 6,533.2 6,536.6 6,557.5 6,618.6 6,625.1 6,583.9 6,594.0
Durable goods..................... 981.2 992.5 966.3 983.2 1,036.8 1,058.1 1,004.0 995.3
Nondurable goods.................. 1,917.5 1,915.9 1,919.7 1,926.9 1,930.6 1,925.6 1,919.8 1,929.6
Services.......................... 3,655.2 3,653.2 3,672.4 3,672.9 3,687.6 3,682.6 3,688.9 3,695.7
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 2.1 5.1 3.4 20.9 61.1 6.5 -41.2 10.1
Durable goods..................... -1.7 11.3 -26.2 16.9 53.6 21.3 -54.1 -8.7
Nondurable goods.................. -8.6 -1.6 3.8 7.2 3.7 -5.0 -5.8 9.8
Services.......................... 11.2 -2.0 19.2 .5 14.7 -5.0 6.3 6.8
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .0 .1 .1 .3 .9 .1 -.6 .2
Durable goods..................... -.2 1.1 -2.6 1.7 5.5 2.1 -5.1 -.9
Nondurable goods.................. -.4 -.1 .2 .4 .2 -.3 -.3 .5
Services.......................... .3 -.1 .5 .0 .4 -.1 .2 .2
----------------------------------------------------------------------------------------------------------------------------
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 II 01 III 01 IV 01 I 02 II 02 III 02/r/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,223.9 6,377.2 6,348.0 6,370.9 6,464.0 6,513.8 6,542.4 6,609.2
Durable goods..................... 878.9 931.9 912.4 922.6 992.0 975.9 980.7 1,033.0
Nondurable goods.................. 1,833.8 1,869.8 1,862.3 1,868.3 1,885.0 1,921.4 1,920.9 1,925.3
Services.......................... 3,524.5 3,594.9 3,589.3 3,597.5 3,616.6 3,642.2 3,666.2 3,686.4
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 259.4 153.3 22.0 22.9 93.1 49.8 28.6 66.8
Durable goods..................... 66.4 53.0 11.8 10.2 69.4 -16.1 4.8 52.3
Nondurable goods.................. 68.7 36.0 -1.4 6.0 16.7 36.4 -.5 4.4
Services.......................... 129.1 70.4 13.0 8.2 19.1 25.6 24.0 20.2
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... 4.4 2.5 1.4 1.5 6.0 3.1 1.8 4.1
Durable goods..................... 8.2 6.0 5.3 4.6 33.6 -6.3 2.0 23.1
Nondurable goods.................. 3.9 2.0 -.3 1.3 3.6 7.9 -.1 .9
Services.......................... 3.8 2.0 1.5 .9 2.1 2.9 2.7 2.2
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 110.38 110.86 110.83 110.97 111.12 111.38 111.61 111.84
Durable goods..................... 87.60 87.46 87.45 87.18 86.97 86.89 86.95 86.81
Nondurable goods.................. 109.10 110.18 109.49 109.59 109.67 109.92 110.17 110.42
Services.......................... 116.37 116.71 117.02 117.28 117.56 117.93 118.18 118.51
Addendum:
Personal consumption expenditures
less food and energy............. 110.03 110.33 110.40 110.54 110.66 110.95 111.14 111.28
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .2 .4 .0 .1 .1 .2 .2 .2
Durable goods..................... -.3 -.2 .0 -.3 -.2 -.1 .1 -.2
Nondurable goods.................. .6 1.0 -.6 .1 .1 .2 .2 .2
Services.......................... .1 .3 .3 .2 .2 .3 .2 .3
Addendum:
Personal consumption expenditures
less food and energy............. .1 .3 .1 .1 .1 .3 .2 .1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... 4.0 4.1 5.0 5.6 3.9 2.2 3.1 5.7
Personal consumption expenditures... 3.3 3.1 2.9 3.1 3.8 3.6 3.7 1.9
Durable goods..................... 8.7 10.0 6.3 6.3 12.0 13.5 10.4 -3.0
Nondurable goods.................. 3.5 3.0 2.9 3.6 3.1 2.7 3.4 3.0
Services.......................... 2.1 1.9 2.3 2.3 2.6 2.2 2.6 2.4
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... 1.0 1.3 1.0 1.1 1.2 1.5 2.1 1.7
Durable goods..................... -3.0 -3.0 -2.6 -2.8 -3.0 -2.6 -2.3 -2.4
Nondurable goods.................. .1 .6 -.4 -.4 .4 .9 .1 1.1
Services.......................... 2.4 2.5 2.5 2.6 2.5 2.6 4.1 2.9
Addendum:
Personal consumption expenditures
less food and energy............. 1.5 1.7 1.7 1.7 1.5 1.7 2.7 1.8
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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