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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-33
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: SEPTEMBER 2002
Personal income increased $37.0 billion, or 0.4 percent, and disposable personal income (DPI)
increased $36.8 billion, or 0.5 percent, in September, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) decreased $29.6 billion, or 0.4 percent. In August, personal
income increased $26.3 billion, or 0.3 percent, DPI increased $26.9 billion, or 0.3 percent, and PCE
increased $30.2 billion, or 0.4 percent, based on revised estimates.
2002
May June July Aug. Sept.
(Percent change from preceding month)
Personal income, current dollars 0.4 0.7 0.0 0.3 0.4
Disposable personal income:
Current dollars 0.5 0.7 0.1 0.3 0.5
Chained (1996) dollars 0.5 0.6 -0.1 0.1 0.3
Personal consumption expenditures:
Current dollars 0.0 0.4 1.1 0.4 -0.4
Chained (1996) dollars 0.1 0.3 0.9 0.2 -0.6
This release includes revised estimates of population, per capita disposable personal income (DPI),
and per capita real DPI. The revised population estimates reflect newly available estimates from the
Census Bureau for May 1990 through September 2002. The revised per capita estimates reflect the
revisions to the population estimates. Estimates for the complete revision period are available on BEA's
Web site at <www.bea.gov/bea/dn/nipaweb/SelectTable.asp?Selected=Y#S2>.
Wages and salaries
Private wage and salary disbursements increased $27.8 billion in September, compared with an
increase of $23.6 billion in August. Goods-producing industries' payrolls increased $1.5 billion,
compared with an increase of $5.1 billion; manufacturing payrolls increased $0.3 billion, compared
with an increase of $1.8 billion. Distributive industries' payrolls increased $8.0 billion, compared
with an increase of $3.2 billion. Service industries' payrolls increased $18.2 billion, compared with
an increase of $15.4 billion. Government wage and salary disbursements increased $1.9 billion,
compared with an increase of $3.5 billion.
Other personal income
Proprietors' income increased $7.1 billion in September, compared with an increase of $2.1
billion in August. Farm proprietors' income increased $2.8 billion, compared with an increase of
$2.9 billion. Nonfarm proprietors' income increased $4.3 billion, in contrast to a decrease of $0.8
billion.
Transfer payments increased $7.5 billion in September, compared with an increase of $3.7
billion in August. Personal interest income decreased $3.0 billion, the same decrease as in August.
Personal dividend income increased $2.1 billion in September, compared with an increase of $2.3
billion in August. Rental income of persons decreased $8.5 billion, compared with a decrease of
$8.6 billion.
Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $2.1 billion in September, compared with an increase of $1.9 billion in August.
Personal taxes and disposable personal income
Personal tax and nontax payments increased $0.2 billion in September, in contrast to a decrease
of $0.5 billion in August. Disposable personal income (DPI) -- personal income less personal tax
and nontax payments -- increased $36.8 billion, or 0.5 percent, in September, compared with an
increase of $26.9 billion, or 0.3 percent, in August.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- decreased $32.3 billion in September, in contrast to an increase of $27.6 billion in
August. PCE decreased $29.6 billion, in contrast to an increase of $30.2 billion.
Personal saving -- DPI less personal outlays -- was $335.8 billion in September, compared with
$266.8 billion in August. Personal saving as a percentage of disposable personal income was 4.2
percent in September, compared with 3.4 percent in August.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in September,
compared with an increase of 0.1 percent in August.
Real PCE -- PCE adjusted to remove price changes -- decreased 0.6 percent in September, in
contrast to an increase of 0.2 percent in August. Purchases of durable goods decreased 5.2 percent,
in contrast to an increase of 2.0 percent. Purchases of motor vehicles and parts accounted for most
of the September decrease and accounted for most of the August increase. Purchases of nondurable
goods decreased 0.3 percent in September, compared with a decrease of 0.1 percent in August.
Purchases of services increased 0.2 percent, in contrast to a decrease of 0.1 percent.
Revisions
Estimates have been revised for July and August. Changes in personal income, current-dollar
and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for July and
August -- revised and as published in last month's release -- are shown below.
Change from preceding month
July August
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars............. 2.6 -3.5 0.0 0.0 33.0 26.3 0.4 0.3
Disposable personal income:
Current dollars............. 12.8 6.8 0.2 0.1 34.4 26.9 0.4 0.3
Chained (1996) dollars...... 1.8 -5.0 0.0 -0.1 14.5 7.1 0.2 0.1
Personal consumption expenditures:
Current dollars............. 74.5 77.4 1.0 1.1 23.7 30.2 0.3 0.4
Chained (1996) dollars...... 58.0 59.3 0.9 0.9 6.0 11.2 0.1 0.2
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 October will be released on
November 27, 2002, at 8:30 A.M. EST.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,807.2 8,836.3 8,869.2 8,906.0 8,966.0 8,962.5 8,988.8 9,025.8
Wage and salary disbursements..... 4,956.9 4,975.4 4,972.7 4,990.1 5,028.0 5,013.1 5,040.2 5,069.9
Private industries.............. 4,116.0 4,131.4 4,126.9 4,141.8 4,177.1 4,159.6 4,183.2 4,211.0
Goods-producing industries.... 1,116.1 1,119.4 1,116.4 1,117.1 1,123.1 1,117.0 1,122.1 1,123.6
Manufacturing............... 759.0 760.2 759.1 760.6 764.7 759.3 761.1 761.4
Distributive industries....... 1,109.6 1,117.1 1,113.2 1,118.1 1,126.6 1,119.2 1,122.4 1,130.4
Service industries............ 1,890.3 1,894.8 1,897.4 1,906.6 1,927.4 1,923.4 1,938.8 1,957.0
Government...................... 840.9 844.1 845.8 848.3 851.0 853.5 857.0 858.9
Other labor income................ 590.7 595.5 599.8 603.9 608.5 612.7 617.2 621.6
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 750.0 751.9 751.4 746.0 745.1 754.6 756.7 763.8
Farm............................ 21.8 22.5 14.0 5.1 3.3 7.5 10.4 13.2
Nonfarm......................... 728.2 729.4 737.4 740.9 741.7 747.1 746.3 750.6
Rental income of persons with
capital consumption adjustment... 141.3 143.2 148.3 153.5 158.7 153.0 144.4 135.9
Personal dividend income.......... 423.8 425.5 428.0 430.3 432.7 435.0 437.3 439.4
Personal interest income.......... 1,069.9 1,069.0 1,075.7 1,082.3 1,088.9 1,085.8 1,082.8 1,079.8
Transfer payments to persons...... 1,255.0 1,257.6 1,275.0 1,282.9 1,289.9 1,293.2 1,296.9 1,304.4
Old-age, survivors, disability,
and health insurance benefits.. 693.2 688.6 695.1 696.3 697.4 699.2 701.9 704.6
Government unemployment
insurance benefits............. 52.6 56.2 63.5 67.7 70.8 68.2 66.9 67.7
Other........................... 509.1 512.8 516.4 518.9 521.7 525.8 528.0 532.1
Less: Personal contributions for
social insurance................. 380.4 381.8 381.8 383.1 385.7 384.9 386.8 388.9
Less: Personal tax and nontax
payments........................... 1,136.1 1,134.0 1,127.4 1,125.4 1,128.7 1,118.2 1,117.7 1,117.9
Equals: Disposable personal income.. 7,671.1 7,702.2 7,741.7 7,780.6 7,837.4 7,844.2 7,871.1 7,907.9
Less: Personal outlays.............. 7,408.9 7,424.3 7,464.1 7,467.9 7,501.8 7,576.7 7,604.3 7,572.0
Personal consumption expenditures. 7,186.8 7,205.3 7,242.7 7,244.6 7,276.7 7,354.1 7,384.3 7,354.7
Durable goods................... 863.5 859.8 868.2 845.2 857.4 901.5 918.9 872.0
Nondurable goods................ 2,089.1 2,092.1 2,110.9 2,101.9 2,111.7 2,117.7 2,119.8 2,117.7
Services........................ 4,234.2 4,253.4 4,263.5 4,297.4 4,307.6 4,334.9 4,345.6 4,365.0
Interest paid by persons.......... 190.6 187.6 189.4 191.3 193.2 190.5 187.8 185.2
Personal transfer payments to the
rest of the world (net).......... 31.5 31.5 31.9 31.9 31.9 32.2 32.2 32.2
Equals: Personal saving............. 262.2 277.9 277.7 312.7 335.6 267.5 266.8 335.8
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,965.7 6,978.3 6,983.3 7,020.1 7,062.8 7,057.8 7,064.9 7,083.2
Per capita:
Current dollars............... 26,774 26,867 26,987 27,104 27,281 27,283 27,352 27,456
Chained (1996) dollars........ 24,312 24,342 24,344 24,455 24,585 24,547 24,551 24,592
Population (thousands)\2\....... 286,512 286,681 286,865 287,067 287,284 287,519 287,768 288,024
Personal saving as a percentage
of disposable personal income.... 3.4 3.6 3.6 4.0 4.3 3.4 3.4 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
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,406.6 8,685.3 8,676.2 8,706.2 8,700.9 8,803.4 8,913.7 8,992.4
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 5,041.0
Private industries.............. 4,067.4 4,139.8 4,151.0 4,136.6 4,106.2 4,117.4 4,148.6 4,184.6
Goods-producing industries.... 1,163.7 1,142.4 1,150.0 1,140.0 1,123.3 1,116.9 1,118.9 1,120.9
Manufacturing............... 829.4 789.4 797.1 783.4 769.9 759.4 761.5 760.6
Distributive industries....... 1,094.8 1,109.2 1,112.3 1,110.8 1,098.6 1,110.1 1,119.3 1,124.0
Service industries............ 1,808.9 1,888.2 1,888.8 1,885.8 1,884.3 1,890.4 1,910.5 1,939.7
Government...................... 768.9 810.8 805.8 817.1 825.2 840.4 848.4 856.4
Other labor income................ 544.2 570.4 568.2 572.4 576.3 590.8 604.1 617.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 714.8 727.9 726.6 732.4 731.3 748.4 747.5 758.3
Farm............................ 22.6 19.0 18.4 19.3 19.2 21.7 7.5 10.4
Nonfarm......................... 692.2 708.8 708.2 713.1 712.1 726.7 740.0 748.0
Rental income of persons with
capital consumption adjustment... 146.6 137.9 134.3 140.8 139.3 141.3 153.5 144.4
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 1,298.2
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 67.6
Other........................... 432.5 474.2 469.7 479.3 490.0 509.5 519.0 528.7
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 7,874.4
Less: Personal outlays.............. 6,918.6 7,223.5 7,198.5 7,222.0 7,329.6 7,396.3 7,477.9 7,584.4
Personal consumption expenditures. 6,683.7 6,987.0 6,959.8 6,983.7 7,099.9 7,174.2 7,254.7 7,364.3
Durable goods................... 803.9 835.9 820.3 824.0 882.6 859.0 856.9 897.5
Nondurable goods................ 1,972.9 2,041.3 2,044.8 2,044.3 2,044.4 2,085.1 2,108.2 2,118.4
Services........................ 3,906.9 4,109.9 4,094.7 4,115.4 4,172.9 4,230.1 4,289.5 4,348.5
Interest paid by persons.......... 205.4 205.4 207.7 206.5 199.1 190.6 191.3 187.8
Personal transfer payments to the
rest of the world (net).......... 29.5 31.1 30.9 31.8 30.6 31.5 31.9 32.2
Equals: Personal saving............. 201.5 169.7 141.6 302.2 61.5 270.4 308.7 290.0
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 7,068.7
Per capita:
Current dollars............... 25,237 25,957 25,805 26,387 25,853 26,759 27,124 27,364
Chained (1996) dollars........ 23,501 23,692 23,537 24,071 23,537 24,296 24,461 24,564
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 3.7
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 40.4 29.1 32.9 36.8 60.0 -3.5 26.3 37.0
Wage and salary disbursements..... 15.9 18.5 -2.7 17.4 37.9 -14.9 27.1 29.7
Private industries.............. 11.3 15.4 -4.5 14.9 35.3 -17.5 23.6 27.8
Goods-producing industries.... .9 3.3 -3.0 .7 6.0 -6.1 5.1 1.5
Manufacturing............... -.1 1.2 -1.1 1.5 4.1 -5.4 1.8 .3
Distributive industries....... 6.0 7.5 -3.9 4.9 8.5 -7.4 3.2 8.0
Service industries............ 4.4 4.5 2.6 9.2 20.8 -4.0 15.4 18.2
Government...................... 4.6 3.2 1.7 2.5 2.7 2.5 3.5 1.9
Other labor income................ 4.6 4.8 4.3 4.1 4.6 4.2 4.5 4.4
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 6.7 1.9 -.5 -5.4 -.9 9.5 2.1 7.1
Farm............................ 1.0 .7 -8.5 -8.9 -1.8 4.2 2.9 2.8
Nonfarm......................... 5.8 1.2 8.0 3.5 .8 5.4 -.8 4.3
Rental income of persons with
capital consumption adjustment... 1.9 1.9 5.1 5.2 5.2 -5.7 -8.6 -8.5
Personal dividend income.......... 2.0 1.7 2.5 2.3 2.4 2.3 2.3 2.1
Personal interest income.......... -1.0 -.9 6.7 6.6 6.6 -3.1 -3.0 -3.0
Transfer payments to persons...... 11.5 2.6 17.4 7.9 7.0 3.3 3.7 7.5
Old-age, survivors, disability,
and health insurance benefits.. 4.5 -4.6 6.5 1.2 1.1 1.8 2.7 2.7
Government unemployment
insurance benefits............. 4.5 3.6 7.3 4.2 3.1 -2.6 -1.3 .8
Other............................ 2.4 3.7 3.6 2.5 2.8 4.1 2.2 4.1
Less: Personal contributions for
social insurance................. 1.2 1.4 .0 1.3 2.6 -.8 1.9 2.1
Less: Personal tax and nontax
payments........................... -4.0 -2.1 -6.6 -2.0 3.3 -10.5 -.5 .2
Equals: Disposable personal income.. 44.4 31.1 39.5 38.9 56.8 6.8 26.9 36.8
Less: Personal outlays.............. 53.2 15.4 39.8 3.8 33.9 74.9 27.6 -32.3
Personal consumption expenditures. 56.2 18.5 37.4 1.9 32.1 77.4 30.2 -29.6
Durable goods................... 9.9 -3.7 8.4 -23.0 12.2 44.1 17.4 -46.9
Nondurable goods................ 15.0 3.0 18.8 -9.0 9.8 6.0 2.1 -2.1
Services........................ 31.4 19.2 10.1 33.9 10.2 27.3 10.7 19.4
Interest paid by persons.......... -3.1 -3.0 1.8 1.9 1.9 -2.7 -2.7 -2.6
Personal transfer payments to the
rest of the world (net).......... .0 .0 .4 .0 .0 .3 .0 .0
Equals: Personal saving............. -8.8 15.7 -.2 35.0 22.9 -68.1 -.7 69.0
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 26.9 12.6 5.0 36.8 42.7 -5.0 7.1 18.3
----------------------------------------------------------------------------------------------------------------------------
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
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 620.1 278.7 18.1 30.0 -5.3 102.5 110.3 78.7
Wage and salary disbursements..... 365.9 114.3 -3.6 -3.1 -22.3 26.4 39.2 44.0
Private industries.............. 321.1 72.4 -14.2 -14.4 -30.4 11.2 31.2 36.0
Goods-producing industries.... 75.1 -21.3 -6.3 -10.0 -16.7 -6.4 2.0 2.0
Manufacturing............... 47.4 -40.0 -10.1 -13.7 -13.5 -10.5 2.1 -.9
Distributive industries....... 74.0 14.4 -2.7 -1.5 -12.2 11.5 9.2 4.7
Service industries............ 172.0 79.3 -5.1 -3.0 -1.5 6.1 20.1 29.2
Government...................... 44.7 41.9 10.6 11.3 8.1 15.2 8.0 8.0
Other labor income................ 34.0 26.2 3.5 4.2 3.9 14.5 13.3 13.1
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 36.4 13.1 5.4 5.8 -1.1 17.1 -.9 10.8
Farm............................ -5.1 -3.6 -.9 .9 -.1 2.5 -14.2 2.9
Nonfarm......................... 41.5 16.6 6.3 4.9 -1.0 14.6 13.3 8.0
Rental income of persons with
capital consumption adjustment... -2.5 -8.7 -2.7 6.5 -1.5 2.0 12.2 -9.1
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 15.6
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 .3
Other............................ 22.3 41.7 11.8 9.6 10.7 19.5 9.5 9.7
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 87.8
Less: Personal outlays.............. 465.3 304.9 54.6 23.5 107.6 66.7 81.6 106.5
Personal consumption expenditures. 437.2 303.3 55.1 23.9 116.2 74.3 80.5 109.6
Durable goods................... 48.0 32.0 3.5 3.7 58.6 -23.6 -2.1 40.6
Nondurable goods................ 142.8 68.4 13.3 -.5 .1 40.7 23.1 10.2
Services........................ 246.4 203.0 38.3 20.7 57.5 57.2 59.4 59.0
Interest paid by persons.......... 25.9 .0 -.6 -1.2 -7.4 -8.5 .7 -3.5
Personal transfer payments to the
rest of the world (net).......... 2.2 1.6 .0 .9 -1.2 .9 .4 .3
Equals: Personal saving............. 27.5 -31.8 -32.1 160.6 -240.7 208.9 38.3 -18.7
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 301.9 117.7 -9.5 169.2 -134.9 231.9 61.1 46.6
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... .5 .3 .4 .4 .7 .0 .3 .4
Wage and salary disbursements..... .3 .4 -.1 .3 .8 -.3 .5 .6
Other labor income................ .8 .8 .7 .7 .8 .7 .7 .7
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... .9 .3 -.1 -.7 -.1 1.3 .3 .9
Rental income of persons with
capital consumption adjustment... 1.3 1.4 3.6 3.5 3.4 -3.6 -5.6 -5.9
Personal dividend income.......... .5 .4 .6 .5 .5 .5 .5 .5
Personal interest income.......... -.1 -.1 .6 .6 .6 -.3 -.3 -.3
Transfer payments to persons...... .9 .2 1.4 .6 .5 .3 .3 .6
Less: Personal contributions for
social insurance................. .3 .4 .0 .3 .7 -.2 .5 .5
Less: Personal tax and nontax
payments........................... -.3 -.2 -.6 -.2 .3 -.9 .0 .0
Equals: Disposable personal income.. .6 .4 .5 .5 .7 .1 .3 .5
Addenda:
Personal consumption expenditures. .8 .3 .5 .0 .4 1.1 .4 -.4
Durable goods................... 1.2 -.4 1.0 -2.7 1.4 5.1 1.9 -5.1
Nondurable goods................ .7 .1 .9 -.4 .5 .3 .1 -.1
Services........................ .7 .5 .2 .8 .2 .6 .2 .4
Disposable personal income, based
on chained (1996) dollars........ .4 .2 .1 .5 .6 -.1 .1 .3
----------------------------------------------------------------------------------------------------------------------------
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
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8.0 3.3 .8 1.4 -.2 4.8 5.1 3.6
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 9.0
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 5.4 1.8 3.0 3.3 -.6 9.7 -.5 5.9
Rental income of persons with
capital consumption adjustment... -1.7 -6.0 -7.8 20.9 -4.3 5.9 39.3 -21.6
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 4.9
Less: Personal contributions for
social insurance................. 6.2 3.9 1.1 1.0 -.4 8.6 3.3 3.5
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 4.6
Addenda:
Personal consumption expenditures. 7.0 4.5 3.2 1.4 6.8 4.3 4.6 6.2
Durable goods................... 6.4 4.0 1.7 1.8 31.6 -10.3 -.9 20.3
Nondurable goods................ 7.8 3.5 2.6 -.1 .0 8.2 4.5 1.9
Services........................ 6.7 5.2 3.8 2.0 5.7 5.6 5.7 5.6
Disposable personal income, based
on chained (1996) dollars........ 4.8 1.8 -.6 10.5 -7.6 14.5 3.6 2.7
----------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,526.0 6,528.1 6,533.2 6,536.6 6,557.5 6,616.8 6,628.0 6,587.7
Durable goods..................... 982.9 981.2 992.5 966.3 983.2 1,036.3 1,057.2 1,002.7
Nondurable goods.................. 1,926.1 1,917.5 1,915.9 1,919.7 1,926.9 1,930.9 1,928.4 1,922.1
Services.......................... 3,644.0 3,655.2 3,653.2 3,672.4 3,672.9 3,685.9 3,683.4 3,691.4
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 38.6 2.1 5.1 3.4 20.9 59.3 11.2 -40.3
Durable goods..................... 19.3 -1.7 11.3 -26.2 16.9 53.1 20.9 -54.5
Nondurable goods.................. 5.6 -8.6 -1.6 3.8 7.2 4.0 -2.5 -6.3
Services.......................... 16.7 11.2 -2.0 19.2 .5 13.0 -2.5 8.0
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .6 .0 .1 .1 .3 .9 .2 -.6
Durable goods..................... 2.0 -.2 1.1 -2.6 1.7 5.4 2.0 -5.2
Nondurable goods.................. .3 -.4 -.1 .2 .4 .2 -.1 -.3
Services.......................... .5 .3 -.1 .5 .0 .4 -.1 .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
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
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 6,610.8
Durable goods..................... 878.9 931.9 912.4 922.6 992.0 975.9 980.7 1,032.0
Nondurable goods.................. 1,833.8 1,869.8 1,862.3 1,868.3 1,885.0 1,921.4 1,920.9 1,927.2
Services.......................... 3,524.5 3,594.9 3,589.3 3,597.5 3,616.6 3,642.2 3,666.2 3,686.9
----------------------------------------------------------------------------------------
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 68.4
Durable goods..................... 66.4 53.0 11.8 10.2 69.4 -16.1 4.8 51.3
Nondurable goods.................. 68.7 36.0 -1.4 6.0 16.7 36.4 -.5 6.3
Services.......................... 129.1 70.4 13.0 8.2 19.1 25.6 24.0 20.7
----------------------------------------------------------------------------------------
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 4.2
Durable goods..................... 8.2 6.0 5.3 4.6 33.6 -6.3 2.0 22.7
Nondurable goods.................. 3.9 2.0 -.3 1.3 3.6 7.9 -.1 1.3
Services.......................... 3.8 2.0 1.5 .9 2.1 2.9 2.7 2.3
----------------------------------------------------------------------------------------------------------------------------
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 110.13 110.38 110.86 110.83 110.97 111.14 111.41 111.64
Durable goods..................... 87.83 87.60 87.46 87.45 87.18 86.97 86.89 86.95
Nondurable goods.................. 108.46 109.10 110.18 109.49 109.59 109.67 109.92 110.17
Services.......................... 116.20 116.37 116.71 117.02 117.28 117.61 117.98 118.25
Addendum:
Personal consumption expenditures
less food and energy............. 109.97 110.03 110.33 110.40 110.54 110.69 110.99 111.18
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .2 .2 .4 .0 .1 .2 .2 .2
Durable goods..................... -.8 -.3 -.2 .0 -.3 -.2 -.1 .1
Nondurable goods.................. .4 .6 1.0 -.6 .1 .1 .2 .2
Services.......................... .3 .1 .3 .3 .2 .3 .3 .2
Addendum:
Personal consumption expenditures
less food and energy............. .2 .1 .3 .1 .1 .1 .3 .2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... 4.0 4.0 4.1 5.0 5.6 3.8 2.1 3.0
Personal consumption expenditures... 3.2 3.3 3.1 2.9 3.1 3.8 3.7 3.8
Durable goods..................... 8.5 8.7 10.0 6.3 6.3 11.9 13.4 10.3
Nondurable goods.................. 3.4 3.5 3.0 2.9 3.6 3.1 2.8 3.5
Services.......................... 2.0 2.1 1.9 2.3 2.3 2.6 2.2 2.7
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... .8 1.0 1.3 1.0 1.1 1.2 1.5 2.2
Durable goods..................... -3.1 -3.0 -3.0 -2.6 -2.8 -3.0 -2.6 -2.3
Nondurable goods.................. -.7 .1 .6 -.4 -.4 .4 .9 .1
Services.......................... 2.4 2.4 2.5 2.5 2.6 2.5 2.6 4.1
Addendum:
Personal consumption expenditures
less food and energy............. 1.6 1.5 1.7 1.7 1.7 1.5 1.7 2.7
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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