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The entire release is available in PDF format. The tables in this release are available in an XLS spreadsheet.
Also available: a brief summary of highlights.
2005 Annual Revision of the National Income and Product Accounts
Table Headers and Stubs for the 2005 Annual Revision to the Personal Income and Outlays Accounts
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James E. Rankin: (202) 606-5301 (Personal Income)BEA 05-35
Michael Armah: 606-5302 (Personal Outlays)
Recorded message: 606-5303
Kurt Kunze: 606-9748 (Annual Revision)
PERSONAL INCOME AND OUTLAYS: JUNE 2005
REVISED ESTIMATES: 2002 THROUGH MAY 2005
Personal income increased $52.9 billion, or 0.5 percent, and disposable personal income
(DPI) increased $44.9 billion, or 0.5 percent, in June, according to the Bureau of Economic
Analysis. Personal consumption expenditures (PCE) increased $72.2 billion, or 0.8 percent. In
May, personal income increased $23.2 billion, or 0.2 percent, DPI increased $15.9 billion, or 0.2
percent, and PCE decreased $2.7 billion, or less than 0.1 percent, based on revised estimates.
2005
Feb. Mar. Apr. May June
(Percent change from preceding month)
Personal income, current dollars 0.5 0.4 0.7 0.2 0.5
Disposable personal income:
Current dollars 0.4 0.4 0.5 0.2 0.5
Chained (2000) dollars 0.2 0.0 0.1 0.1 0.5
Personal consumption expenditures:
Current dollars 0.7 0.5 0.8 0.0 0.8
Chained (2000) dollars 0.4 0.1 0.4 -0.1 0.8
The estimates released today reflect the annual revision to the national income and product accounts
(NIPAs), beginning with the estimates for January 2002. Annual revisions, which are usually released in
July, incorporate source data that are more complete, more detailed, and otherwise more reliable than
previously available. This release includes revised monthly personal income, disposable personal income,
and outlays and provides an overview of the effects of the revision. The August 2005 Survey of Current
Business will contain NIPA tables and an article describing the revisions. The revised estimates will be
available on BEA's Web site at www.bea.gov.
Wages and salaries
Private wage and salary disbursements increased $11.5 billion in June, compared with an
increase of $4.4 billion in May. Goods-producing industries' payrolls increased $0.2 billion,
compared with an increase of $3.3 billion; manufacturing payrolls decreased $1.4 billion, in
contrast to an increase of $2.6 billion. Services-producing industries' payrolls increased $11.3
billion, compared with an increase of $1.1 billion. Government wage and salary disbursements
increased $0.5 billion, compared with an increase of $1.4 billion.
Other personal income
Supplements to wages and salaries increased $3.5 billion in June, compared with an increase
of $2.9 billion in May.
Proprietors' income increased $19.1 billion in June, compared with an increase of $5.2
billion in May. Farm proprietors' income decreased $0.6 billion, compared with a decrease of
$0.7 billion. Nonfarm proprietors' income increased $19.6 billion, compared with an increase of
$6.0 billion.
Rental income of persons decreased $5.6 billion in June, compared with a decrease of $6.4
billion in May. Personal income receipts on assets (personal interest income plus personal
dividend income) increased $18.0 billion, compared with an increase of $11.8 billion. Personal
current transfer receipts increased $7.0 billion, compared with an increase of $4.2 billion.
Contributions for government social insurance -- a subtraction in calculating personal income
-- increased $1.2 billion in June, compared with an increase of $0.3 billion in May.
Personal current taxes and disposable personal income
Personal current taxes increased $8.0 billion in June, compared with an increase of $7.3
billion in May. Disposable personal income (DPI) -- personal income less personal current taxes
-- increased $44.9 billion, or 0.5 percent, in June, compared with an increase of $15.9 billion, or
0.2 percent, in May.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $76.7 billion in June, compared with an increase of $1.7 billion in May. PCE increased
$72.2 billion, in contrast to a decrease of $2.7 billion.
Personal saving -- DPI less personal outlays -- was $1.9 billion in June, compared with $33.7
billion in May. Saving from current income may be near zero or negative when outlays are
financed by borrowing (including borrowing financed through credit cards or home equity loans),
by selling investments or other assets, or by using savings from previous periods. Personal saving
as a percentage of disposable personal income was 0.0 percent in June, compared with 0.4 percent
in May.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.5 percent in June, compared
with an increase of 0.1 percent in May.
Real PCE -- PCE adjusted to remove price changes -- increased 0.8 percent in June, in
contrast to a decrease of 0.1 percent in May. Purchases of durable goods increased 3.3 percent, in
contrast to a decrease of 3.1 percent. Purchases of motor vehicles and parts accounted for most
of the June increase and accounted for most of the May decrease. Purchases of nondurable goods
increased 0.9 percent in June, compared with an increase of 0.3 percent in May. Purchases of
services increased 0.3 percent, compared with an increase of 0.4 percent.
Revision of the Personal Income and Outlays Estimates
Personal income, personal outlays, DPI, and personal saving are revised beginning with
January 2002 to reflect the results of the annual revision to the national income and product
accounts (NIPAs) released last week. The NIPAs usually are revised each July to incorporate
newly available and more comprehensive source data, as well as improved estimating
methodologies.
Annual revisions to the estimates of personal income and outlays, which begin with 2002, are
shown in table 12. Changes in revised and previously published monthly estimates of personal
income, DPI, PCE, personal saving as a percentage of DPI, real DPI, and real PCE are shown in
table 13; changes in revised and previously published annual and quarterly estimates are shown in
table 14.
Personal income was revised up for all 3 years: $3.0 billion, or less than 0.1 percent, for
2002; $7.3 billion, or 0.1 percent, for 2003; and $23.7 billion, or 0.2 percent, for 2004. For
2002, upward revisions to compensation of employees and to personal dividend income were
partly offset by downward revisions to rental income of persons and to personal interest income.
For 2003 and 2004, upward revisions to compensation of employees, to personal dividend
income, to personal current transfer receipts, and to farm proprietors' income were partly offset
by downward revisions to nonfarm proprietors' income, to rental income of persons, and to
personal interest income.
Personal current taxes was revised up $0.6 billion for 2002, was revised down $2.0 billion
for 2003, and was revised up $6.5 billion for 2004. DPI was revised up for all 3 years: $2.4
billion, or less than 0.1 percent, for 2002; $9.3 billion, or 0.1 percent, for 2003; and $17.3
billion, or 0.2 percent, for 2004. The percent change from the preceding year in real DPI was
unrevised at 3.1 percent for 2002, was revised up from 2.3 percent to 2.4 percent for 2003, and
was revised down from 3.7 percent to 3.4 percent for 2004.
Personal outlays was revised down for all 3 years: $23.2 billion for 2002, $53.0 billion for
2003, and $19.4 billion for 2004. Revisions to PCE accounted for most of the revisions for all 3
years. The personal saving rate (personal saving as a percentage of DPI) was revised up for all 3
years: From 2.0 percent to 2.4 percent for 2002, from 1.4 percent to 2.1 percent for 2003, and
from 1.3 percent to 1.8 percent for 2004.
BEA's national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site at www.bea.gov.
By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and
announcements.
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
(202) 606-5303 Personal income and outlays
(202) 606-5362 U.S. international transactions
* * *
Next release -- Personal Income and Outlays for July will be released on
September 1, 2005, 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 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,769.6 8,789.9 8,814.2 8,840.2 8,879.0 8,889.3 8,907.6 8,894.8 8,892.7 8,898.8 8,910.3 8,920.8 8,945.3 8,976.3 9,011.5
Compensation of employees, received...... 5,950.8 5,992.4 6,022.0 6,061.5 6,073.6 6,087.5 6,113.4 6,102.0 6,115.7 6,125.9 6,125.9 6,131.1 6,143.3 6,176.8 6,211.5
Wage and salary disbursements.......... 4,932.2 4,949.1 4,958.3 4,976.1 4,978.3 4,985.9 5,004.0 4,982.1 4,989.6 4,993.8 4,982.2 4,982.5 4,988.8 5,008.8 5,031.7
Private industries................... 4,096.2 4,096.9 4,102.4 4,117.9 4,118.2 4,121.3 4,137.7 4,115.8 4,119.6 4,122.4 4,108.7 4,107.4 4,111.4 4,118.8 4,137.1
Goods-producing industries......... 1,012.1 1,012.9 1,014.9 1,019.7 1,016.4 1,017.5 1,019.3 1,013.0 1,008.7 1,006.7 999.8 998.8 1,001.2 1,001.2 1,001.8
Manufacturing.................... 674.1 673.7 674.5 680.1 680.3 683.2 685.7 679.1 674.8 672.7 667.3 666.5 667.6 667.5 669.5
Services-producing industries...... 3,084.1 3,084.0 3,087.5 3,098.2 3,101.8 3,103.7 3,118.5 3,102.8 3,110.8 3,115.6 3,108.9 3,108.6 3,110.1 3,117.7 3,135.3
Trade, transportation, and
utilities....................... 834.6 837.7 837.5 842.4 841.9 845.1 848.4 846.1 845.6 846.5 841.1 842.0 842.9 846.0 850.6
Other services-producing
industries...................... 2,249.6 2,246.3 2,250.1 2,255.8 2,259.9 2,258.7 2,270.1 2,256.8 2,265.2 2,269.1 2,267.8 2,266.5 2,267.2 2,271.7 2,284.8
Government........................... 836.0 852.2 855.9 858.1 860.1 864.6 866.3 866.3 870.1 871.4 873.6 875.1 877.4 890.0 894.6
Supplements to wages and salaries...... 1,018.7 1,043.4 1,063.7 1,085.4 1,095.3 1,101.6 1,109.3 1,119.8 1,126.1 1,132.1 1,143.7 1,148.6 1,154.5 1,168.0 1,179.7
Employer contributions for employee
pension and insurance funds......... 661.0 680.9 700.5 720.8 730.3 736.1 742.4 754.4 760.2 765.7 778.1 783.1 788.3 795.0 805.1
Employer contributions for government
social insurance.................... 357.6 362.5 363.2 364.6 365.1 365.6 366.9 365.5 365.9 366.3 365.6 365.5 366.3 373.0 374.7
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 773.6 763.5 764.4 761.1 761.9 763.4 765.2 773.9 767.6 765.7 775.4 779.4 779.6 777.4 775.3
Farm................................... 18.7 12.7 8.5 5.5 3.9 3.6 4.6 8.6 11.0 13.4 16.8 18.6 19.9 19.1 20.3
Nonfarm................................ 754.9 750.8 756.0 755.5 758.0 759.8 760.6 765.3 756.6 752.3 758.6 760.7 759.7 758.3 755.0
Rental income of persons with capital
consumption adjustment.................. 176.9 173.8 172.1 170.3 172.1 168.4 162.4 149.5 142.5 136.6 130.5 128.4 128.7 138.0 138.5
Personal income receipts on assets....... 1,354.4 1,345.9 1,340.2 1,335.5 1,339.0 1,336.7 1,333.8 1,330.9 1,327.1 1,324.3 1,327.1 1,328.3 1,330.0 1,331.9 1,334.7
Personal interest income............... 986.0 971.0 959.5 949.8 949.0 942.4 935.7 929.5 922.8 917.7 918.5 918.1 918.7 919.1 920.7
Personal dividend income............... 368.4 374.9 380.7 385.7 390.0 394.2 398.1 401.5 404.3 406.6 408.6 410.2 411.4 412.8 414.0
Personal current transfer receipts....... 1,247.3 1,259.7 1,262.0 1,260.9 1,282.0 1,284.0 1,286.1 1,288.8 1,291.0 1,298.2 1,301.9 1,304.0 1,315.4 1,314.9 1,317.5
Government social benefits to persons.. 1,202.3 1,216.4 1,219.8 1,219.7 1,242.3 1,245.4 1,248.6 1,252.6 1,255.7 1,263.7 1,268.1 1,271.1 1,283.3 1,282.9 1,286.0
Old-age, survivors, disability, and
health insurance benefits........... 685.5 697.1 701.4 696.6 703.4 704.3 705.9 707.6 710.5 712.8 711.4 716.0 722.7 723.4 726.3
Government unemployment insurance
benefits............................ 42.3 42.5 41.4 44.6 59.3 60.8 60.2 58.1 55.2 57.0 54.6 50.4 54.3 49.8 49.8
Other................................ 474.5 476.8 477.0 478.4 479.7 480.3 482.5 487.0 489.9 494.0 502.1 504.6 506.3 509.7 509.9
Other current transfer receipts, from
business (net)........................ 45.0 43.2 42.3 41.3 39.7 38.6 37.5 36.2 35.4 34.5 33.7 32.9 32.1 32.0 31.6
Less: Contributions for government social
insurance............................... 733.4 745.4 746.6 749.2 749.6 750.6 753.1 750.3 751.1 751.9 750.4 750.4 751.7 762.7 765.9
Less: Personal current taxes............... 1,224.9 1,071.0 1,062.5 1,056.2 1,051.7 1,049.1 1,050.2 1,049.7 1,050.4 1,050.0 1,046.1 1,043.7 1,041.6 1,023.6 1,024.4
Equals: Disposable personal income......... 7,544.7 7,718.9 7,751.7 7,784.0 7,827.3 7,840.3 7,857.4 7,845.1 7,842.3 7,848.9 7,864.2 7,877.1 7,903.7 7,952.7 7,987.1
Less: Personal outlays..................... 7,459.8 7,493.4 7,537.5 7,547.4 7,627.6 7,593.9 7,639.9 7,693.9 7,707.0 7,676.4 7,707.8 7,733.4 7,786.0 7,803.5 7,819.5
Personal consumption expenditures........ 7,165.9 7,196.5 7,242.0 7,252.3 7,330.2 7,296.2 7,342.6 7,396.4 7,411.0 7,382.3 7,414.3 7,443.6 7,501.3 7,523.4 7,539.9
Durable goods.......................... 890.8 909.3 924.1 912.3 939.7 899.7 917.3 944.9 959.1 916.4 905.2 912.4 946.9 926.3 906.1
Nondurable goods....................... 2,029.2 2,037.6 2,044.0 2,053.1 2,083.8 2,067.1 2,085.8 2,085.6 2,084.1 2,085.5 2,100.9 2,111.4 2,116.9 2,133.8 2,152.4
Services............................... 4,245.9 4,249.7 4,273.9 4,286.9 4,306.7 4,329.5 4,339.5 4,365.9 4,367.7 4,380.4 4,408.3 4,419.8 4,437.5 4,463.3 4,481.4
Personal interest payments\1\............ 204.6 200.5 198.9 198.3 200.9 200.8 200.2 198.9 197.2 195.0 193.2 189.3 183.9 179.5 178.6
Personal current transfer payments....... 89.3 96.3 96.6 96.8 96.5 96.8 97.1 98.6 98.9 99.1 100.2 100.5 100.8 100.6 100.9
To government.......................... 56.4 56.8 57.0 57.3 57.6 57.8 58.1 58.3 58.6 58.9 59.1 59.4 59.7 59.9 60.2
To the rest of the world (net)......... 32.9 39.5 39.5 39.5 39.0 39.0 39.0 40.2 40.2 40.2 41.1 41.1 41.1 40.8 40.8
Equals: Personal saving.................... 84.9 225.5 214.3 236.6 199.7 246.4 217.5 151.2 135.3 172.5 156.5 143.7 117.8 149.2 167.6
Personal saving as a percentage of
disposable personal income.............. 1.1 2.9 2.8 3.0 2.6 3.1 2.8 1.9 1.7 2.2 2.0 1.8 1.5 1.9 2.1
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,374.2 7,532.3 7,554.1 7,563.4 7,573.2 7,586.4 7,595.8 7,571.1 7,551.6 7,543.5 7,549.4 7,554.6 7,574.0 7,604.0 7,602.4
Per capita:
Current dollars...................... 26,312 26,899 26,995 27,088 27,218 27,241 27,278 27,211 27,176 27,173 27,203 27,225 27,297 27,445 27,544
Chained (2000) dollars............... 25,718 26,249 26,307 26,320 26,335 26,359 26,369 26,261 26,169 26,116 26,114 26,110 26,158 26,242 26,217
Population (midperiod, thousands)\3\..... 286,736 286,952 287,154 287,357 287,574 287,809 288,051 288,306 288,575 288,843 289,099 289,333 289,551 289,767 289,976
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. 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 and quarterly estimates are averages of the
monthly estimates.
Table 1.--Personal Income and Its Disposition (Months)--Continued
[Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04 May 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,053.2 9,067.9 9,124.5 9,163.4 9,188.2 9,214.2 9,243.7 9,271.7 9,339.4 9,374.8 9,435.9 9,487.9 9,530.7 9,571.8 9,628.3
Compensation of employees, received...... 6,238.9 6,252.4 6,293.7 6,317.9 6,337.0 6,362.6 6,380.5 6,403.6 6,442.1 6,436.4 6,497.4 6,529.8 6,552.9 6,573.6 6,616.4
Wage and salary disbursements.......... 5,048.4 5,058.0 5,092.8 5,112.5 5,124.0 5,142.4 5,153.1 5,170.8 5,201.4 5,189.6 5,232.6 5,257.3 5,274.6 5,293.1 5,329.8
Private industries................... 4,151.7 4,159.1 4,189.8 4,203.3 4,217.9 4,235.9 4,247.6 4,263.1 4,291.8 4,277.3 4,309.4 4,330.4 4,342.7 4,353.5 4,393.5
Goods-producing industries......... 1,002.0 997.1 1,002.3 1,004.0 998.2 1,002.9 1,009.0 1,018.3 1,027.7 1,021.9 1,017.8 1,018.1 1,020.4 1,025.7 1,040.5
Manufacturing.................... 668.5 662.6 666.4 666.6 661.2 663.6 667.3 673.7 681.4 676.2 670.3 669.6 668.0 670.2 681.7
Services-producing industries...... 3,149.7 3,162.0 3,187.5 3,199.3 3,219.6 3,233.0 3,238.6 3,244.8 3,264.1 3,255.4 3,291.6 3,312.3 3,322.3 3,327.7 3,353.1
Trade, transportation, and
utilities....................... 853.5 852.2 855.4 856.2 857.7 862.1 863.2 870.3 871.8 864.3 868.0 871.6 875.7 885.1 891.5
Other services-producing
industries...................... 2,296.2 2,309.8 2,332.1 2,343.1 2,361.9 2,370.9 2,375.4 2,374.5 2,392.3 2,391.1 2,423.7 2,440.7 2,446.6 2,442.6 2,461.6
Government........................... 896.7 898.9 903.0 909.2 906.1 906.5 905.5 907.7 909.6 912.3 923.1 926.9 931.9 939.6 936.3
Supplements to wages and salaries...... 1,190.4 1,194.5 1,200.8 1,205.4 1,213.0 1,220.3 1,227.4 1,232.8 1,240.7 1,246.8 1,264.9 1,272.5 1,278.3 1,280.5 1,286.6
Employer contributions for employee
pension and insurance funds......... 814.3 817.7 821.9 825.2 831.9 838.1 844.4 849.0 855.0 862.2 871.3 877.2 882.4 884.3 887.5
Employer contributions for government
social insurance.................... 376.1 376.8 378.9 380.2 381.1 382.2 383.0 383.8 385.7 384.6 393.6 395.3 395.9 396.2 399.1
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 782.2 788.3 803.3 812.4 815.2 819.4 828.8 831.0 838.6 850.3 859.6 868.0 882.9 893.8 899.6
Farm................................... 22.0 25.8 27.4 28.4 27.0 28.0 29.6 32.4 35.0 37.9 43.1 45.2 46.1 45.9 44.5
Nonfarm................................ 760.1 762.5 775.9 784.0 788.3 791.5 799.2 798.6 803.5 812.4 816.5 822.8 836.8 847.9 855.1
Rental income of persons with capital
consumption adjustment.................. 136.7 128.5 125.2 122.6 124.0 118.4 118.9 129.8 146.0 153.8 144.4 144.4 144.0 143.0 141.9
Personal income receipts on assets....... 1,337.2 1,338.4 1,340.8 1,342.3 1,340.6 1,337.9 1,334.2 1,337.3 1,341.9 1,347.3 1,349.5 1,350.3 1,351.5 1,357.5 1,363.8
Personal interest income............... 922.0 921.8 922.9 923.1 920.1 915.6 909.8 910.7 912.2 913.8 910.8 906.5 902.5 903.8 905.1
Personal dividend income............... 415.2 416.6 417.9 419.1 420.6 422.3 424.4 426.5 429.6 433.5 438.8 443.8 449.0 453.7 458.7
Personal current transfer receipts....... 1,327.0 1,330.3 1,335.8 1,344.7 1,350.0 1,356.7 1,363.8 1,354.5 1,359.1 1,373.3 1,388.4 1,402.6 1,407.9 1,413.4 1,421.7
Government social benefits to persons.. 1,295.8 1,299.2 1,305.0 1,314.1 1,319.6 1,326.6 1,333.9 1,324.9 1,329.8 1,344.2 1,359.3 1,373.5 1,378.9 1,384.5 1,392.8
Old-age, survivors, disability, and
health insurance benefits........... 730.2 731.6 737.9 738.4 738.8 743.9 745.1 747.0 749.8 758.9 764.4 775.8 778.5 781.9 784.9
Government unemployment insurance
benefits............................ 53.8 54.3 52.1 57.0 54.2 53.5 55.3 51.3 51.2 51.4 46.8 43.3 39.1 34.2 36.9
Other................................ 511.8 513.3 515.0 518.7 526.6 529.2 533.5 526.5 528.8 533.9 548.1 554.4 561.3 568.4 571.0
Other current transfer receipts, from
business (net)........................ 31.2 31.1 30.8 30.6 30.3 30.1 29.8 29.5 29.3 29.1 29.1 29.0 29.0 28.9 28.9
Less: Contributions for government social
insurance............................... 768.6 769.9 774.2 776.6 778.6 780.9 782.4 784.4 788.3 786.3 803.4 807.0 808.5 809.4 815.1
Less: Personal current taxes............... 1,025.0 1,020.4 1,027.1 1,033.3 934.5 887.7 1,000.1 1,003.3 1,009.7 1,009.9 1,003.3 1,009.6 1,015.7 1,026.4 1,036.3
Equals: Disposable personal income......... 8,028.3 8,047.5 8,097.5 8,130.1 8,253.7 8,326.4 8,243.6 8,268.4 8,329.7 8,364.9 8,432.6 8,478.3 8,515.0 8,545.4 8,592.0
Less: Personal outlays..................... 7,883.2 7,890.2 7,908.6 7,967.6 8,001.0 8,107.1 8,100.3 8,104.1 8,161.9 8,209.2 8,286.2 8,303.6 8,368.5 8,366.4 8,480.3
Personal consumption expenditures........ 7,602.2 7,605.8 7,621.5 7,678.8 7,714.5 7,819.8 7,812.8 7,812.6 7,870.4 7,916.8 7,997.1 8,016.6 8,083.1 8,076.6 8,186.7
Durable goods.......................... 926.8 938.7 938.2 949.8 955.7 995.6 972.8 947.5 964.5 978.7 964.6 972.5 985.3 962.3 993.1
Nondurable goods....................... 2,181.7 2,153.5 2,136.0 2,169.8 2,181.2 2,227.4 2,231.9 2,223.9 2,238.4 2,238.4 2,290.9 2,281.3 2,335.9 2,325.8 2,371.3
Services............................... 4,493.7 4,513.6 4,547.2 4,559.2 4,577.6 4,596.8 4,608.1 4,641.3 4,667.5 4,699.7 4,741.6 4,762.8 4,761.8 4,788.6 4,822.3
Personal interest payments\1\............ 179.7 182.9 185.2 186.4 185.1 185.4 185.2 183.6 183.1 183.4 180.5 177.9 175.6 179.1 182.2
Personal current transfer payments....... 101.3 101.6 102.0 102.4 101.4 101.9 102.4 107.8 108.4 109.0 108.5 109.2 109.8 110.7 111.3
To government.......................... 60.5 60.9 61.3 61.7 62.2 62.6 63.1 63.6 64.2 64.8 65.5 66.1 66.7 67.3 67.8
To the rest of the world (net)......... 40.8 40.7 40.7 40.7 39.3 39.3 39.3 44.2 44.2 44.2 43.0 43.0 43.0 43.5 43.5
Equals: Personal saving.................... 145.1 157.3 188.8 162.5 252.7 219.3 143.3 164.3 167.9 155.7 146.4 174.7 146.5 179.0 111.8
Personal saving as a percentage of
disposable personal income.............. 1.8 2.0 2.3 2.0 3.1 2.6 1.7 2.0 2.0 1.9 1.7 2.1 1.7 2.1 1.3
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,610.2 7,644.6 7,701.1 7,726.0 7,829.6 7,874.1 7,775.3 7,799.6 7,859.6 7,875.3 7,902.2 7,919.2 7,924.2 7,936.7 7,944.1
Per capita:
Current dollars...................... 27,666 27,711 27,860 27,948 28,347 28,570 28,259 28,318 28,505 28,603 28,813 28,949 29,054 29,135 29,271
Chained (2000) dollars............... 26,225 26,323 26,496 26,559 26,891 27,018 26,653 26,713 26,896 26,929 27,001 27,040 27,038 27,060 27,064
Population (midperiod, thousands)\3\..... 290,187 290,412 290,653 290,903 291,166 291,442 291,718 291,982 292,223 292,448 292,666 292,872 293,078 293,299 293,537
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. 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 and quarterly estimates are averages of the
monthly estimates.
Table 1.--Personal Income and Its Disposition (Months)--Continued
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,642.8 9,689.0 9,739.8 9,759.0 9,858.4 9,924.9 10,291.0 10,044.8 10,091.3 10,131.3 10,199.1 10,222.3 10,275.2
Compensation of employees, received...... 6,620.7 6,679.8 6,721.0 6,772.0 6,836.6 6,896.6 6,954.3 6,985.8 7,022.6 7,051.0 7,100.1 7,108.7 7,124.4
Wage and salary disbursements.......... 5,331.4 5,384.2 5,418.9 5,462.8 5,513.2 5,563.2 5,612.2 5,625.6 5,649.5 5,665.2 5,708.0 5,713.8 5,725.8
Private industries................... 4,394.0 4,444.6 4,475.8 4,517.0 4,564.8 4,613.2 4,660.7 4,666.6 4,687.1 4,701.1 4,742.1 4,746.5 4,758.0
Goods-producing industries......... 1,040.5 1,053.3 1,063.2 1,070.5 1,079.4 1,080.5 1,089.0 1,091.3 1,096.3 1,098.1 1,105.6 1,108.9 1,109.1
Manufacturing.................... 681.0 689.8 696.9 701.7 706.3 705.6 711.4 713.8 716.2 715.5 718.6 721.2 719.8
Services-producing industries...... 3,353.5 3,391.3 3,412.6 3,446.5 3,485.4 3,532.6 3,571.7 3,575.3 3,590.8 3,602.9 3,636.5 3,637.6 3,648.9
Trade, transportation, and
utilities....................... 891.8 899.9 904.3 914.7 924.5 931.2 937.6 945.1 947.6 949.7 957.5 955.5 955.7
Other services-producing
industries...................... 2,461.7 2,491.4 2,508.3 2,531.8 2,560.8 2,601.4 2,634.1 2,630.3 2,643.2 2,653.2 2,679.0 2,682.1 2,693.1
Government........................... 937.4 939.6 943.2 945.8 948.4 950.1 951.5 959.0 962.4 964.1 965.9 967.3 967.8
Supplements to wages and salaries...... 1,289.3 1,295.6 1,302.0 1,309.2 1,323.4 1,333.4 1,342.1 1,360.2 1,373.2 1,385.8 1,392.1 1,395.0 1,398.5
Employer contributions for employee
pension and insurance funds......... 890.6 893.5 897.7 902.4 913.2 919.9 925.7 938.2 949.9 961.8 965.6 968.5 971.6
Employer contributions for government
social insurance.................... 398.7 402.0 404.3 406.8 410.2 413.5 416.4 422.0 423.3 424.0 426.5 426.4 426.9
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 901.7 898.6 890.0 878.8 899.7 900.1 903.0 912.9 916.8 924.1 932.6 937.8 956.9
Farm................................... 42.0 35.2 29.3 24.7 26.5 24.5 23.0 23.7 24.6 25.9 25.9 25.2 24.6
Nonfarm................................ 859.7 863.4 860.6 854.1 873.2 875.6 880.0 889.2 892.2 898.2 906.7 912.7 932.3
Rental income of persons with capital
consumption adjustment.................. 140.4 138.7 132.2 95.5 132.5 128.3 125.4 121.1 118.5 114.4 108.3 101.9 96.3
Personal income receipts on assets....... 1,370.4 1,375.2 1,378.4 1,381.0 1,388.1 1,394.2 1,698.5 1,403.3 1,407.4 1,413.1 1,423.7 1,435.5 1,453.5
Personal interest income............... 906.5 906.3 904.9 902.8 904.9 907.2 910.0 912.7 915.4 918.1 923.9 931.8 945.6
Personal dividend income............... 463.9 468.8 473.5 478.2 483.2 487.0 788.5 490.6 492.0 495.0 499.8 503.8 507.9
Personal current transfer receipts....... 1,424.2 1,418.1 1,443.9 1,462.5 1,439.0 1,449.4 1,459.4 1,482.8 1,489.6 1,494.0 1,504.8 1,509.0 1,516.0
Government social benefits to persons.. 1,395.2 1,389.0 1,399.8 1,402.5 1,409.5 1,419.6 1,429.3 1,453.7 1,460.4 1,464.8 1,475.6 1,479.7 1,486.7
Old-age, survivors, disability, and
health insurance benefits........... 787.9 790.4 794.4 796.4 801.0 805.3 810.3 823.3 828.6 832.1 838.8 842.2 846.9
Government unemployment insurance
benefits............................ 34.6 32.7 36.0 31.2 33.0 33.4 30.7 29.6 29.4 29.2 28.1 27.6 28.1
Other................................ 572.7 565.9 569.5 574.9 575.5 580.8 588.3 600.8 602.4 603.6 608.7 609.9 611.7
Other current transfer receipts, from
business (net)........................ 29.0 29.0 44.1 60.0 29.5 29.8 30.0 29.1 29.1 29.1 29.2 29.2 29.3
Less: Contributions for government social
insurance............................... 814.6 821.3 825.6 830.8 837.3 843.7 849.6 861.1 863.6 865.2 870.3 870.6 871.8
Less: Personal current taxes............... 1,039.2 1,048.9 1,057.6 1,068.7 1,080.0 1,094.0 1,108.9 1,166.1 1,174.8 1,181.1 1,204.6 1,211.9 1,219.9
Equals: Disposable personal income......... 8,603.5 8,640.1 8,682.2 8,690.3 8,778.4 8,830.9 9,182.1 8,878.7 8,916.5 8,950.2 8,994.5 9,010.4 9,055.3
Less: Personal outlays..................... 8,470.6 8,544.3 8,553.4 8,601.1 8,677.9 8,718.9 8,778.3 8,801.2 8,860.5 8,902.2 8,975.0 8,976.7 9,053.4
Personal consumption expenditures........ 8,173.6 8,244.2 8,250.2 8,295.1 8,371.0 8,409.8 8,467.6 8,483.1 8,541.6 8,582.6 8,654.0 8,651.3 8,723.5
Durable goods.......................... 968.5 1,004.9 987.6 988.9 994.7 1,000.9 1,030.1 1,003.8 1,017.5 1,030.7 1,046.8 1,016.6 1,046.2
Nondurable goods....................... 2,368.4 2,368.0 2,370.7 2,396.5 2,439.2 2,436.2 2,435.9 2,461.2 2,483.3 2,485.4 2,529.3 2,524.7 2,541.4
Services............................... 4,836.7 4,871.3 4,891.9 4,909.8 4,937.1 4,972.6 5,001.6 5,018.1 5,040.8 5,066.5 5,077.9 5,110.0 5,135.9
Personal interest payments\1\............ 185.2 187.8 190.4 192.7 194.7 196.3 197.5 197.8 198.1 198.4 202.3 206.2 210.1
Personal current transfer payments....... 111.8 112.3 112.8 113.3 112.2 112.7 113.2 120.3 120.8 121.3 118.7 119.3 119.7
To government.......................... 68.3 68.9 69.4 70.0 70.5 71.0 71.5 72.0 72.5 72.9 73.4 74.0 74.4
To the rest of the world (net)......... 43.5 43.4 43.4 43.4 41.7 41.7 41.7 48.3 48.3 48.3 45.3 45.3 45.3
Equals: Personal saving.................... 132.9 95.7 128.8 89.2 100.5 112.0 403.8 77.5 56.0 48.0 19.5 33.7 1.9
Personal saving as a percentage of
disposable personal income.............. 1.5 1.1 1.5 1.0 1.1 1.3 4.4 .9 .6 .5 .2 .4 .0
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,935.6 7,972.0 8,005.4 8,002.6 8,043.4 8,071.2 8,392.9 8,101.7 8,115.5 8,112.9 8,117.6 8,128.6 8,169.1
Per capita:
Current dollars...................... 29,285 29,384 29,500 29,500 29,773 29,927 31,094 30,045 30,152 30,245 30,372 30,402 30,528
Chained (2000) dollars............... 27,012 27,112 27,200 27,165 27,280 27,352 28,421 27,415 27,443 27,415 27,411 27,426 27,540
Population (midperiod, thousands)\3\..... 293,783 294,042 294,315 294,587 294,846 295,083 295,303 295,517 295,720 295,924 296,144 296,381 296,627
----------------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. 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 and quarterly estimates are averages of the
monthly estimates.
Table 2.--Personal Income and Its Disposition (Years and Quarters)
[Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 IV 01 I 02 II 02 III 02 IV 02
----------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,724.1 8,881.9 9,169.1 9,713.3 8,754.8 8,814.7 8,892.0 8,895.4 8,925.5
Compensation of employees, received...... 5,942.1 6,091.2 6,321.1 6,687.6 5,938.3 6,025.3 6,091.5 6,114.5 6,133.4
Wage and salary disbursements.......... 4,942.8 4,980.9 5,111.1 5,389.4 4,923.5 4,961.2 4,989.4 4,988.5 4,984.5
Private industries................... 4,126.9 4,115.0 4,207.8 4,450.0 4,089.4 4,105.7 4,125.7 4,119.2 4,109.1
Goods-producing industries......... 1,044.3 1,010.7 1,007.2 1,049.9 1,012.8 1,015.8 1,017.7 1,009.5 999.9
Manufacturing.................... 708.8 675.5 668.7 687.7 675.8 676.1 683.1 675.5 667.1
Services-producing industries...... 3,082.6 3,104.2 3,200.6 3,400.1 3,076.6 3,089.9 3,108.0 3,109.8 3,109.2
Trade, transportation, and
utilities....................... 844.6 843.1 858.6 899.7 834.6 839.2 845.1 846.1 842.0
Other services-producing
industries...................... 2,238.0 2,261.1 2,342.0 2,500.4 2,241.9 2,250.7 2,262.9 2,263.7 2,267.2
Government........................... 815.9 865.9 903.3 939.5 834.1 855.4 863.7 869.3 875.4
Supplements to wages and salaries...... 999.3 1,110.3 1,210.0 1,298.1 1,014.8 1,064.2 1,102.1 1,126.0 1,148.9
Employer contributions for employee
pension and insurance funds......... 642.7 745.1 830.0 895.5 657.9 700.7 736.2 760.1 783.2
Employer contributions for government
social insurance.................... 356.6 365.2 380.0 402.7 356.9 363.4 365.8 365.9 365.8
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 771.9 768.4 810.2 889.6 774.2 763.0 763.5 769.1 778.1
Farm................................... 19.7 10.6 27.7 35.8 20.0 8.9 4.0 11.0 18.4
Nonfarm................................ 752.2 757.8 782.4 853.8 754.1 754.1 759.4 758.1 759.7
Rental income of persons with capital
consumption adjustment.................. 167.4 152.9 131.7 134.2 176.2 172.1 167.7 142.9 129.2
Personal income receipts on assets....... 1,380.0 1,333.2 1,338.7 1,396.5 1,360.3 1,340.6 1,336.5 1,327.4 1,328.5
Personal interest income............... 1,011.0 936.1 917.6 905.9 994.0 960.1 942.4 923.3 918.4
Personal dividend income............... 369.0 397.2 421.1 490.6 366.4 380.5 394.1 404.1 410.0
Personal current transfer receipts....... 1,193.9 1,286.2 1,344.0 1,427.5 1,237.8 1,260.9 1,284.0 1,292.7 1,307.1
Government social benefits to persons.. 1,143.9 1,248.9 1,313.5 1,394.5 1,190.9 1,218.6 1,245.4 1,257.3 1,274.2
Old-age, survivors, disability, and
health insurance benefits........... 668.5 707.5 739.3 789.3 680.4 698.4 704.5 710.3 716.7
Government unemployment insurance
benefits............................ 31.7 53.2 52.8 36.0 40.6 42.8 60.1 56.8 53.1
Other................................ 443.7 488.2 521.4 569.2 470.0 477.4 480.8 490.3 504.4
Other current transfer receipts, from
business (net)........................ 50.0 37.3 30.5 33.0 46.9 42.3 38.6 35.4 32.9
Less: Contributions for government social
insurance............................... 731.1 750.0 776.6 822.2 731.9 747.1 751.1 751.1 750.9
Less: Personal current taxes............... 1,237.3 1,051.8 999.9 1,049.1 1,230.0 1,063.2 1,050.3 1,050.0 1,043.8
Equals: Disposable personal income......... 7,486.8 7,830.1 8,169.2 8,664.2 7,524.8 7,751.5 7,841.7 7,845.4 7,881.7
Less: Personal outlays..................... 7,354.5 7,645.3 7,996.3 8,512.5 7,484.4 7,526.1 7,620.5 7,692.4 7,742.4
Personal consumption expenditures........ 7,055.0 7,350.7 7,709.9 8,214.3 7,188.4 7,230.3 7,323.0 7,396.6 7,453.1
Durable goods.......................... 883.7 923.9 950.1 987.8 932.8 915.2 918.9 940.1 921.5
Nondurable goods....................... 2,017.1 2,079.6 2,189.0 2,368.3 2,027.5 2,044.9 2,078.9 2,085.1 2,109.7
Services............................... 4,154.3 4,347.2 4,570.8 4,858.2 4,228.0 4,270.2 4,325.2 4,371.4 4,421.8
Personal interest payments\1\............ 212.2 196.4 183.2 186.7 207.2 199.2 200.6 197.0 188.8
Personal current transfer payments....... 87.2 98.2 103.3 111.5 88.8 96.6 96.8 98.9 100.5
To government.......................... 54.2 58.2 62.1 68.6 56.0 57.0 57.8 58.6 59.4
To the rest of the world (net)......... 33.0 40.0 41.2 42.9 32.9 39.5 39.0 40.2 41.1
Equals: Personal saving.................... 132.3 184.7 172.8 151.8 40.5 225.4 221.2 153.0 139.3
Personal saving as a percentage of
disposable personal income.............. 1.8 2.4 2.1 1.8 .5 2.9 2.8 2.0 1.8
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,333.3 7,562.2 7,741.8 8,004.3 7,346.0 7,549.9 7,585.2 7,555.5 7,559.3
Per capita:
Current dollars...................... 26,236 27,165 28,065 29,475 26,264 26,994 27,246 27,187 27,241
Chained (2000) dollars............... 25,698 26,236 26,596 27,230 25,640 26,292 26,355 26,182 26,127
Population (midperiod, thousands)\3\..... 285,366 288,240 291,085 293,951 286,502 287,154 287,812 288,575 289,328
----------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. 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 and quarterly estimates are averages of the
monthly estimates.
Table 2.--Personal Income and Its Disposition (Years and Quarters)--Continued
[Billions of dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05 II 05
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,013.7 9,118.6 9,215.4 9,328.7 9,484.8 9,614.3 9,729.2 10,024.8 10,089.2 10,232.2
Compensation of employees, received...... 6,209.0 6,288.0 6,360.1 6,427.4 6,526.7 6,603.6 6,724.2 6,895.8 7,019.8 7,111.1
Wage and salary disbursements.......... 5,029.7 5,087.8 5,139.8 5,187.3 5,254.8 5,318.1 5,422.0 5,562.9 5,646.8 5,715.9
Private industries................... 4,135.9 4,184.1 4,233.8 4,277.4 4,327.5 4,380.3 4,479.2 4,612.9 4,684.9 4,748.9
Goods-producing industries......... 1,001.7 1,001.2 1,003.4 1,022.6 1,018.7 1,035.6 1,062.3 1,083.0 1,095.2 1,107.9
Manufacturing.................... 668.5 665.2 664.0 677.1 669.3 677.6 696.1 707.8 715.1 719.9
Services-producing industries...... 3,134.2 3,182.9 3,230.4 3,254.8 3,308.7 3,344.8 3,416.8 3,529.9 3,589.7 3,641.0
Trade, transportation, and
utilities....................... 850.0 854.6 861.0 868.8 871.8 889.5 906.3 931.1 947.5 956.3
Other services-producing
industries...................... 2,284.2 2,328.3 2,369.4 2,386.0 2,437.0 2,455.3 2,510.5 2,598.8 2,642.2 2,684.7
Government........................... 893.7 903.7 906.1 909.9 927.3 937.7 942.8 950.0 961.8 967.0
Supplements to wages and salaries...... 1,179.4 1,200.2 1,220.2 1,240.1 1,271.9 1,285.5 1,302.3 1,332.9 1,373.1 1,395.2
Employer contributions for employee
pension and insurance funds......... 804.8 821.6 838.1 855.4 877.0 887.5 897.9 919.6 950.0 968.6
Employer contributions for government
social insurance.................... 374.6 378.6 382.1 384.7 394.9 398.0 404.4 413.4 423.1 426.6
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 778.3 801.4 821.1 840.0 870.2 898.4 889.1 900.9 917.9 942.4
Farm................................... 20.5 27.2 28.2 35.1 44.8 44.1 29.7 24.6 24.7 25.2
Nonfarm................................ 757.8 774.1 793.0 804.8 825.4 854.2 859.4 876.3 893.2 917.2
Rental income of persons with capital
consumption adjustment.................. 137.7 125.4 120.4 143.2 144.2 141.8 122.1 128.7 118.0 102.1
Personal income receipts on assets....... 1,334.6 1,340.5 1,337.6 1,342.1 1,350.4 1,363.9 1,378.2 1,493.6 1,407.9 1,437.6
Personal interest income............... 920.6 922.6 915.1 912.2 906.6 905.1 904.7 907.4 915.4 933.8
Personal dividend income............... 414.0 417.9 422.4 429.9 443.9 458.8 473.5 586.2 492.5 503.8
Personal current transfer receipts....... 1,319.8 1,336.9 1,356.8 1,362.3 1,399.6 1,419.8 1,441.5 1,449.2 1,488.8 1,509.9
Government social benefits to persons.. 1,288.2 1,306.1 1,326.7 1,333.0 1,370.6 1,390.8 1,397.1 1,419.5 1,459.7 1,480.7
Old-age, survivors, disability, and
health insurance benefits........... 726.6 736.0 742.6 751.9 772.9 784.9 793.7 805.5 828.0 842.6
Government unemployment insurance
benefits............................ 51.1 54.5 54.4 51.3 43.1 35.3 33.3 32.4 29.4 27.9
Other................................ 510.5 515.6 529.8 529.7 554.6 570.7 570.1 581.5 602.2 610.1
Other current transfer receipts, from
business (net)........................ 31.6 30.8 30.1 29.3 29.0 28.9 44.4 29.8 29.1 29.2
Less: Contributions for government social
insurance............................... 765.8 773.6 780.7 786.3 806.3 813.0 825.9 843.5 863.3 870.9
Less: Personal current taxes............... 1,024.3 1,026.9 940.8 1,007.6 1,009.6 1,034.0 1,058.4 1,094.3 1,174.0 1,212.1
Equals: Disposable personal income......... 7,989.4 8,091.7 8,274.6 8,321.0 8,475.3 8,580.3 8,670.9 8,930.4 8,915.1 9,020.1
Less: Personal outlays..................... 7,835.4 7,922.1 8,069.5 8,158.4 8,319.4 8,439.1 8,566.3 8,725.0 8,854.6 9,001.7
Personal consumption expenditures........ 7,555.2 7,635.3 7,782.4 7,866.6 8,032.3 8,145.6 8,263.2 8,416.1 8,535.8 8,676.3
Durable goods.......................... 919.7 942.2 974.7 963.6 974.2 974.6 993.8 1,008.6 1,017.3 1,036.6
Nondurable goods....................... 2,156.0 2,153.1 2,213.5 2,233.6 2,302.7 2,355.2 2,378.4 2,437.1 2,476.6 2,531.8
Services............................... 4,479.5 4,540.0 4,594.2 4,669.5 4,755.4 4,815.9 4,891.0 4,970.4 5,041.8 5,107.9
Personal interest payments\1\............ 179.3 184.8 185.2 183.4 178.0 182.2 190.3 196.2 198.1 206.2
Personal current transfer payments....... 101.0 102.0 101.9 108.4 109.2 111.3 112.8 112.7 120.8 119.2
To government.......................... 60.2 61.3 62.6 64.2 66.1 67.8 69.4 71.0 72.5 73.9
To the rest of the world (net)......... 40.8 40.7 39.3 44.2 43.0 43.5 43.4 41.7 48.3 45.3
Equals: Personal saving.................... 154.0 169.6 205.1 162.6 155.8 141.2 104.6 205.4 60.5 18.4
Personal saving as a percentage of
disposable personal income.............. 1.9 2.1 2.5 2.0 1.8 1.6 1.2 2.3 .7 .2
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,605.5 7,690.5 7,826.2 7,844.8 7,915.1 7,938.8 7,993.3 8,169.2 8,110.0 8,138.4
Per capita:
Current dollars...................... 27,552 27,839 28,392 28,475 28,939 29,231 29,461 30,265 30,147 30,434
Chained (2000) dollars............... 26,228 26,459 26,853 26,846 27,026 27,045 27,159 27,685 27,425 27,459
Population (midperiod, thousands)\3\..... 289,977 290,656 291,442 292,217 292,872 293,540 294,315 295,077 295,720 296,384
-------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. 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 and quarterly estimates are averages of the
monthly estimates.
Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 20.3 24.3 26.0 38.8 10.3 18.3 -12.8 -2.1 6.1 11.5 10.5 24.5 31.0 35.2
Compensation of employees, received...... 41.6 29.6 39.5 12.1 13.9 25.9 -11.4 13.7 10.2 .0 5.2 12.2 33.5 34.7
Wage and salary disbursements.......... 16.9 9.2 17.8 2.2 7.6 18.1 -21.9 7.5 4.2 -11.6 .3 6.3 20.0 22.9
Private industries................... .7 5.5 15.5 .3 3.1 16.4 -21.9 3.8 2.8 -13.7 -1.3 4.0 7.4 18.3
Goods-producing industries......... .8 2.0 4.8 -3.3 1.1 1.8 -6.3 -4.3 -2.0 -6.9 -1.0 2.4 .0 .6
Manufacturing.................... -.4 .8 5.6 .2 2.9 2.5 -6.6 -4.3 -2.1 -5.4 -.8 1.1 -.1 2.0
Services-producing industries...... -.1 3.5 10.7 3.6 1.9 14.8 -15.7 8.0 4.8 -6.7 -.3 1.5 7.6 17.6
Trade, transportation, and
utilities....................... 3.1 -.2 4.9 -.5 3.2 3.3 -2.3 -.5 .9 -5.4 .9 .9 3.1 4.6
Other services-producing
industries...................... -3.3 3.8 5.7 4.1 -1.2 11.4 -13.3 8.4 3.9 -1.3 -1.3 .7 4.5 13.1
Government........................... 16.2 3.7 2.2 2.0 4.5 1.7 .0 3.8 1.3 2.2 1.5 2.3 12.6 4.6
Supplements to wages and salaries...... 24.7 20.3 21.7 9.9 6.3 7.7 10.5 6.3 6.0 11.6 4.9 5.9 13.5 11.7
Employer contributions for employee
pension and insurance funds......... 19.9 19.6 20.3 9.5 5.8 6.3 12.0 5.8 5.5 12.4 5.0 5.2 6.7 10.1
Employer contributions for government
social insurance.................... 4.9 .7 1.4 .5 .5 1.3 -1.4 .4 .4 -.7 -.1 .8 6.7 1.7
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -10.1 .9 -3.3 .8 1.5 1.8 8.7 -6.3 -1.9 9.7 4.0 .2 -2.2 -2.1
Farm................................... -6.0 -4.2 -3.0 -1.6 -.3 1.0 4.0 2.4 2.4 3.4 1.8 1.3 -.8 1.2
Nonfarm................................ -4.1 5.2 -.5 2.5 1.8 .8 4.7 -8.7 -4.3 6.3 2.1 -1.0 -1.4 -3.3
Rental income of persons with capital
consumption adjustment.................. -3.1 -1.7 -1.8 1.8 -3.7 -6.0 -12.9 -7.0 -5.9 -6.1 -2.1 .3 9.3 .5
Personal income receipts on assets....... -8.5 -5.7 -4.7 3.5 -2.3 -2.9 -2.9 -3.8 -2.8 2.8 1.2 1.7 1.9 2.8
Personal interest income............... -15.0 -11.5 -9.7 -.8 -6.6 -6.7 -6.2 -6.7 -5.1 .8 -.4 .6 .4 1.6
Personal dividend income............... 6.5 5.8 5.0 4.3 4.2 3.9 3.4 2.8 2.3 2.0 1.6 1.2 1.4 1.2
Personal current transfer receipts....... 12.4 2.3 -1.1 21.1 2.0 2.1 2.7 2.2 7.2 3.7 2.1 11.4 -.5 2.6
Government social benefits to persons.. 14.1 3.4 -.1 22.6 3.1 3.2 4.0 3.1 8.0 4.4 3.0 12.2 -.4 3.1
Old-age, survivors, disability, and
health insurance benefits........... 11.6 4.3 -4.8 6.8 .9 1.6 1.7 2.9 2.3 -1.4 4.6 6.7 .7 2.9
Government unemployment insurance
benefits............................ .2 -1.1 3.2 14.7 1.5 -.6 -2.1 -2.9 1.8 -2.4 -4.2 3.9 -4.5 .0
Other................................ 2.3 .2 1.4 1.3 .6 2.2 4.5 2.9 4.1 8.1 2.5 1.7 3.4 .2
Other current transfer receipts, from
business (net)........................ -1.8 -.9 -1.0 -1.6 -1.1 -1.1 -1.3 -.8 -.9 -.8 -.8 -.8 -.1 -.4
Less: Contributions for government social
insurance............................... 12.0 1.2 2.6 .4 1.0 2.5 -2.8 .8 .8 -1.5 .0 1.3 11.0 3.2
Less: Personal current taxes............... -153.9 -8.5 -6.3 -4.5 -2.6 1.1 -.5 .7 -.4 -3.9 -2.4 -2.1 -18.0 .8
Equals: Disposable personal income......... 174.2 32.8 32.3 43.3 13.0 17.1 -12.3 -2.8 6.6 15.3 12.9 26.6 49.0 34.4
Less: Personal outlays..................... 33.6 44.1 9.9 80.2 -33.7 46.0 54.0 13.1 -30.6 31.4 25.6 52.6 17.5 16.0
Personal consumption expenditures........ 30.6 45.5 10.3 77.9 -34.0 46.4 53.8 14.6 -28.7 32.0 29.3 57.7 22.1 16.5
Durable goods.......................... 18.5 14.8 -11.8 27.4 -40.0 17.6 27.6 14.2 -42.7 -11.2 7.2 34.5 -20.6 -20.2
Nondurable goods....................... 8.4 6.4 9.1 30.7 -16.7 18.7 -.2 -1.5 1.4 15.4 10.5 5.5 16.9 18.6
Services............................... 3.8 24.2 13.0 19.8 22.8 10.0 26.4 1.8 12.7 27.9 11.5 17.7 25.8 18.1
Personal interest payments\1\............ -4.1 -1.6 -.6 2.6 -.1 -.6 -1.3 -1.7 -2.2 -1.8 -3.9 -5.4 -4.4 -.9
Personal current transfer payments....... 7.0 .3 .2 -.3 .3 .3 1.5 .3 .2 1.1 .3 .3 -.2 .3
To government.......................... .4 .2 .3 .3 .2 .3 .2 .3 .3 .2 .3 .3 .2 .3
To the rest of the world (net)......... 6.6 .0 .0 -.5 .0 .0 1.2 .0 .0 .9 .0 .0 -.3 .0
Equals: Personal saving.................... 140.6 -11.2 22.3 -36.9 46.7 -28.9 -66.3 -15.9 37.2 -16.0 -12.8 -25.9 31.4 18.4
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 158.1 21.8 9.3 9.8 13.2 9.4 -24.7 -19.5 -8.1 5.9 5.2 19.4 30.0 -1.6
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
for personal consumption expenditures.
Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)--Continued
[Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 41.7 14.7 56.6 38.9 24.8 26.0 29.5 28.0 67.7 35.4 61.1 52.0 42.8 41.1
Compensation of employees, received...... 27.4 13.5 41.3 24.2 19.1 25.6 17.9 23.1 38.5 -5.7 61.0 32.4 23.1 20.7
Wage and salary disbursements.......... 16.7 9.6 34.8 19.7 11.5 18.4 10.7 17.7 30.6 -11.8 43.0 24.7 17.3 18.5
Private industries................... 14.6 7.4 30.7 13.5 14.6 18.0 11.7 15.5 28.7 -14.5 32.1 21.0 12.3 10.8
Goods-producing industries......... .2 -4.9 5.2 1.7 -5.8 4.7 6.1 9.3 9.4 -5.8 -4.1 .3 2.3 5.3
Manufacturing.................... -1.0 -5.9 3.8 .2 -5.4 2.4 3.7 6.4 7.7 -5.2 -5.9 -.7 -1.6 2.2
Services-producing industries...... 14.4 12.3 25.5 11.8 20.3 13.4 5.6 6.2 19.3 -8.7 36.2 20.7 10.0 5.4
Trade, transportation, and
utilities....................... 2.9 -1.3 3.2 .8 1.5 4.4 1.1 7.1 1.5 -7.5 3.7 3.6 4.1 9.4
Other services-producing
industries...................... 11.4 13.6 22.3 11.0 18.8 9.0 4.5 -.9 17.8 -1.2 32.6 17.0 5.9 -4.0
Government........................... 2.1 2.2 4.1 6.2 -3.1 .4 -1.0 2.2 1.9 2.7 10.8 3.8 5.0 7.7
Supplements to wages and salaries...... 10.7 4.1 6.3 4.6 7.6 7.3 7.1 5.4 7.9 6.1 18.1 7.6 5.8 2.2
Employer contributions for employee
pension and insurance funds......... 9.2 3.4 4.2 3.3 6.7 6.2 6.3 4.6 6.0 7.2 9.1 5.9 5.2 1.9
Employer contributions for government
social insurance.................... 1.4 .7 2.1 1.3 .9 1.1 .8 .8 1.9 -1.1 9.0 1.7 .6 .3
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 6.9 6.1 15.0 9.1 2.8 4.2 9.4 2.2 7.6 11.7 9.3 8.4 14.9 10.9
Farm................................... 1.7 3.8 1.6 1.0 -1.4 1.0 1.6 2.8 2.6 2.9 5.2 2.1 .9 -.2
Nonfarm................................ 5.1 2.4 13.4 8.1 4.3 3.2 7.7 -.6 4.9 8.9 4.1 6.3 14.0 11.1
Rental income of persons with capital
consumption adjustment.................. -1.8 -8.2 -3.3 -2.6 1.4 -5.6 .5 10.9 16.2 7.8 -9.4 .0 -.4 -1.0
Personal income receipts on assets....... 2.5 1.2 2.4 1.5 -1.7 -2.7 -3.7 3.1 4.6 5.4 2.2 .8 1.2 6.0
Personal interest income............... 1.3 -.2 1.1 .2 -3.0 -4.5 -5.8 .9 1.5 1.6 -3.0 -4.3 -4.0 1.3
Personal dividend income............... 1.2 1.4 1.3 1.2 1.5 1.7 2.1 2.1 3.1 3.9 5.3 5.0 5.2 4.7
Personal current transfer receipts....... 9.5 3.3 5.5 8.9 5.3 6.7 7.1 -9.3 4.6 14.2 15.1 14.2 5.3 5.5
Government social benefits to persons.. 9.8 3.4 5.8 9.1 5.5 7.0 7.3 -9.0 4.9 14.4 15.1 14.2 5.4 5.6
Old-age, survivors, disability, and
health insurance benefits........... 3.9 1.4 6.3 .5 .4 5.1 1.2 1.9 2.8 9.1 5.5 11.4 2.7 3.4
Government unemployment insurance
benefits............................ 4.0 .5 -2.2 4.9 -2.8 -.7 1.8 -4.0 -.1 .2 -4.6 -3.5 -4.2 -4.9
Other................................ 1.9 1.5 1.7 3.7 7.9 2.6 4.3 -7.0 2.3 5.1 14.2 6.3 6.9 7.1
Other current transfer receipts, from
business (net)........................ -.4 -.1 -.3 -.2 -.3 -.2 -.3 -.3 -.2 -.2 .0 -.1 .0 -.1
Less: Contributions for government social
insurance............................... 2.7 1.3 4.3 2.4 2.0 2.3 1.5 2.0 3.9 -2.0 17.1 3.6 1.5 .9
Less: Personal current taxes............... .6 -4.6 6.7 6.2 -98.8 -46.8 112.4 3.2 6.4 .2 -6.6 6.3 6.1 10.7
Equals: Disposable personal income......... 41.2 19.2 50.0 32.6 123.6 72.7 -82.8 24.8 61.3 35.2 67.7 45.7 36.7 30.4
Less: Personal outlays..................... 63.7 7.0 18.4 59.0 33.4 106.1 -6.8 3.8 57.8 47.3 77.0 17.4 64.9 -2.1
Personal consumption expenditures........ 62.3 3.6 15.7 57.3 35.7 105.3 -7.0 -.2 57.8 46.4 80.3 19.5 66.5 -6.5
Durable goods.......................... 20.7 11.9 -.5 11.6 5.9 39.9 -22.8 -25.3 17.0 14.2 -14.1 7.9 12.8 -23.0
Nondurable goods....................... 29.3 -28.2 -17.5 33.8 11.4 46.2 4.5 -8.0 14.5 .0 52.5 -9.6 54.6 -10.1
Services............................... 12.3 19.9 33.6 12.0 18.4 19.2 11.3 33.2 26.2 32.2 41.9 21.2 -1.0 26.8
Personal interest payments\1\............ 1.1 3.2 2.3 1.2 -1.3 .3 -.2 -1.6 -.5 .3 -2.9 -2.6 -2.3 3.5
Personal current transfer payments....... .4 .3 .4 .4 -1.0 .5 .5 5.4 .6 .6 -.5 .7 .6 .9
To government.......................... .3 .4 .4 .4 .5 .4 .5 .5 .6 .6 .7 .6 .6 .6
To the rest of the world (net)......... .0 -.1 .0 .0 -1.4 .0 .0 4.9 .0 .0 -1.2 .0 .0 .5
Equals: Personal saving.................... -22.5 12.2 31.5 -26.3 90.2 -33.4 -76.0 21.0 3.6 -12.2 -9.3 28.3 -28.2 32.5
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 7.8 34.4 56.5 24.9 103.6 44.5 -98.8 24.3 60.0 15.7 26.9 17.0 5.0 12.5
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
for personal consumption expenditures.
Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)--Continued
[Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 56.5 14.5 46.2 50.8 19.2 99.4 66.5 366.1 -246.2 46.5 40.0 67.8 23.2 52.9
Compensation of employees, received...... 42.8 4.3 59.1 41.2 51.0 64.6 60.0 57.7 31.5 36.8 28.4 49.1 8.6 15.7
Wage and salary disbursements.......... 36.7 1.6 52.8 34.7 43.9 50.4 50.0 49.0 13.4 23.9 15.7 42.8 5.8 12.0
Private industries................... 40.0 .5 50.6 31.2 41.2 47.8 48.4 47.5 5.9 20.5 14.0 41.0 4.4 11.5
Goods-producing industries......... 14.8 .0 12.8 9.9 7.3 8.9 1.1 8.5 2.3 5.0 1.8 7.5 3.3 .2
Manufacturing.................... 11.5 -.7 8.8 7.1 4.8 4.6 -.7 5.8 2.4 2.4 -.7 3.1 2.6 -1.4
Services-producing industries...... 25.4 .4 37.8 21.3 33.9 38.9 47.2 39.1 3.6 15.5 12.1 33.6 1.1 11.3
Trade, transportation, and
utilities....................... 6.4 .3 8.1 4.4 10.4 9.8 6.7 6.4 7.5 2.5 2.1 7.8 -2.0 .2
Other services-producing
industries...................... 19.0 .1 29.7 16.9 23.5 29.0 40.6 32.7 -3.8 12.9 10.0 25.8 3.1 11.0
Government........................... -3.3 1.1 2.2 3.6 2.6 2.6 1.7 1.4 7.5 3.4 1.7 1.8 1.4 .5
Supplements to wages and salaries...... 6.1 2.7 6.3 6.4 7.2 14.2 10.0 8.7 18.1 13.0 12.6 6.3 2.9 3.5
Employer contributions for employee
pension and insurance funds......... 3.2 3.1 2.9 4.2 4.7 10.8 6.7 5.8 12.5 11.7 11.9 3.8 2.9 3.1
Employer contributions for government
social insurance.................... 2.9 -.4 3.3 2.3 2.5 3.4 3.3 2.9 5.6 1.3 .7 2.5 -.1 .5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 5.8 2.1 -3.1 -8.6 -11.2 20.9 .4 2.9 9.9 3.9 7.3 8.5 5.2 19.1
Farm................................... -1.4 -2.5 -6.8 -5.9 -4.6 1.8 -2.0 -1.5 .7 .9 1.3 .0 -.7 -.6
Nonfarm................................ 7.2 4.6 3.7 -2.8 -6.5 19.1 2.4 4.4 9.2 3.0 6.0 8.5 6.0 19.6
Rental income of persons with capital
consumption adjustment.................. -1.1 -1.5 -1.7 -6.5 -36.7 37.0 -4.2 -2.9 -4.3 -2.6 -4.1 -6.1 -6.4 -5.6
Personal income receipts on assets....... 6.3 6.6 4.8 3.2 2.6 7.1 6.1 304.3 -295.2 4.1 5.7 10.6 11.8 18.0
Personal interest income............... 1.3 1.4 -.2 -1.4 -2.1 2.1 2.3 2.8 2.7 2.7 2.7 5.8 7.9 13.8
Personal dividend income............... 5.0 5.2 4.9 4.7 4.7 5.0 3.8 301.5 -297.9 1.4 3.0 4.8 4.0 4.1
Personal current transfer receipts....... 8.3 2.5 -6.1 25.8 18.6 -23.5 10.4 10.0 23.4 6.8 4.4 10.8 4.2 7.0
Government social benefits to persons.. 8.3 2.4 -6.2 10.8 2.7 7.0 10.1 9.7 24.4 6.7 4.4 10.8 4.1 7.0
Old-age, survivors, disability, and
health insurance benefits........... 3.0 3.0 2.5 4.0 2.0 4.6 4.3 5.0 13.0 5.3 3.5 6.7 3.4 4.7
Government unemployment insurance
benefits............................ 2.7 -2.3 -1.9 3.3 -4.8 1.8 .4 -2.7 -1.1 -.2 -.2 -1.1 -.5 .5
Other................................ 2.6 1.7 -6.8 3.6 5.4 .6 5.3 7.5 12.5 1.6 1.2 5.1 1.2 1.8
Other current transfer receipts, from
business (net)........................ .0 .1 .0 15.1 15.9 -30.5 .3 .2 -.9 .0 .0 .1 .0 .1
Less: Contributions for government social
insurance............................... 5.7 -.5 6.7 4.3 5.2 6.5 6.4 5.9 11.5 2.5 1.6 5.1 .3 1.2
Less: Personal current taxes............... 9.9 2.9 9.7 8.7 11.1 11.3 14.0 14.9 57.2 8.7 6.3 23.5 7.3 8.0
Equals: Disposable personal income......... 46.6 11.5 36.6 42.1 8.1 88.1 52.5 351.2 -303.4 37.8 33.7 44.3 15.9 44.9
Less: Personal outlays..................... 113.9 -9.7 73.7 9.1 47.7 76.8 41.0 59.4 22.9 59.3 41.7 72.8 1.7 76.7
Personal consumption expenditures........ 110.1 -13.1 70.6 6.0 44.9 75.9 38.8 57.8 15.5 58.5 41.0 71.4 -2.7 72.2
Durable goods.......................... 30.8 -24.6 36.4 -17.3 1.3 5.8 6.2 29.2 -26.3 13.7 13.2 16.1 -30.2 29.6
Nondurable goods....................... 45.5 -2.9 -.4 2.7 25.8 42.7 -3.0 -.3 25.3 22.1 2.1 43.9 -4.6 16.7
Services............................... 33.7 14.4 34.6 20.6 17.9 27.3 35.5 29.0 16.5 22.7 25.7 11.4 32.1 25.9
Personal interest payments\1\............ 3.1 3.0 2.6 2.6 2.3 2.0 1.6 1.2 .3 .3 .3 3.9 3.9 3.9
Personal current transfer payments....... .6 .5 .5 .5 .5 -1.1 .5 .5 7.1 .5 .5 -2.6 .6 .4
To government.......................... .5 .5 .6 .5 .6 .5 .5 .5 .5 .5 .4 .5 .6 .4
To the rest of the world (net)......... .0 .0 -.1 .0 .0 -1.7 .0 .0 6.6 .0 .0 -3.0 .0 .0
Equals: Personal saving.................... -67.2 21.1 -37.2 33.1 -39.6 11.3 11.5 291.8 -326.3 -21.5 -8.0 -28.5 14.2 -31.8
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 7.4 -8.5 36.4 33.4 -2.8 40.8 27.8 321.7 -291.2 13.8 -2.6 4.7 11.0 40.5
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
1. Consists of nonmortgage interest paid by households.
2. 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]
-----------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 I 02 II 02 III 02 IV 02
-----------------------------------------------------------------------------------------------------------
Personal income............................ 294.4 157.8 287.2 544.2 59.9 77.3 3.4 30.1
Compensation of employees, received...... 159.4 149.1 229.9 366.5 87.0 66.2 23.0 18.9
Wage and salary disbursements.......... 113.6 38.1 130.2 278.3 37.7 28.2 -.9 -4.0
Private industries................... 72.4 -11.9 92.8 242.2 16.3 20.0 -6.5 -10.1
Goods-producing industries......... -22.2 -33.6 -3.5 42.7 3.0 1.9 -8.2 -9.6
Manufacturing.................... -40.5 -33.3 -6.8 19.0 .3 7.0 -7.6 -8.4
Services-producing industries...... 94.6 21.6 96.4 199.5 13.3 18.1 1.8 -.6
Trade, transportation, and
utilities....................... 18.1 -1.5 15.5 41.1 4.6 5.9 1.0 -4.1
Other services-producing
industries...................... 76.5 23.1 80.9 158.4 8.8 12.2 .8 3.5
Government........................... 41.2 50.0 37.4 36.2 21.3 8.3 5.6 6.1
Supplements to wages and salaries...... 45.9 111.0 99.7 88.1 49.4 37.9 23.9 22.9
Employer contributions for employee
pension and insurance funds......... 32.8 102.4 84.9 65.5 42.8 35.5 23.9 23.1
Employer contributions for government
social insurance.................... 13.1 8.6 14.8 22.7 6.5 2.4 .1 -.1
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 43.5 -3.5 41.8 79.4 -11.2 .5 5.6 9.0
Farm................................... -3.0 -9.1 17.1 8.1 -11.1 -4.9 7.0 7.4
Nonfarm................................ 46.5 5.6 24.6 71.4 .0 5.3 -1.3 1.6
Rental income of persons with capital
consumption adjustment.................. 17.1 -14.5 -21.2 2.5 -4.1 -4.4 -24.8 -13.7
Personal income receipts on assets....... -7.0 -46.8 5.5 57.8 -19.7 -4.1 -9.1 1.1
Personal interest income............... .0 -74.9 -18.5 -11.7 -33.9 -17.7 -19.1 -4.9
Personal dividend income............... -7.1 28.2 23.9 69.5 14.1 13.6 10.0 5.9
Personal current transfer receipts....... 109.9 92.3 57.8 83.5 23.1 23.1 8.7 14.4
Government social benefits to persons.. 102.3 105.0 64.6 81.0 27.7 26.8 11.9 16.9
Old-age, survivors, disability, and
health insurance benefits........... 47.7 39.0 31.8 50.0 18.0 6.1 5.8 6.4
Government unemployment insurance
benefits............................ 11.4 21.5 -.4 -16.8 2.2 17.3 -3.3 -3.7
Other................................ 43.2 44.5 33.2 47.8 7.4 3.4 9.5 14.1
Other current transfer receipts, from
business (net)........................ 7.6 -12.7 -6.8 2.5 -4.6 -3.7 -3.2 -2.5
Less: Contributions for government social
insurance............................... 28.4 18.9 26.6 45.6 15.2 4.0 .0 -.2
Less: Personal current taxes............... 1.6 -185.5 -51.9 49.2 -166.8 -12.9 -.3 -6.2
Equals: Disposable personal income......... 292.8 343.3 339.1 495.0 226.7 90.2 3.7 36.3
Less: Personal outlays..................... 328.9 290.8 351.0 516.2 41.7 94.4 71.9 50.0
Personal consumption expenditures........ 315.6 295.7 359.2 504.4 41.9 92.7 73.6 56.5
Durable goods.......................... 20.4 40.2 26.2 37.7 -17.6 3.7 21.2 -18.6
Nondurable goods....................... 69.9 62.5 109.4 179.3 17.4 34.0 6.2 24.6
Services............................... 225.5 192.9 223.6 287.4 42.2 55.0 46.2 50.4
Personal interest payments\1\............ 7.5 -15.8 -13.2 3.5 -8.0 1.4 -3.6 -8.2
Personal current transfer payments....... 5.7 11.0 5.1 8.2 7.8 .2 2.1 1.6
To government.......................... 4.2 4.0 3.9 6.5 1.0 .8 .8 .8
To the rest of the world (net)......... 1.5 7.0 1.2 1.7 6.6 -.5 1.2 .9
Equals: Personal saving.................... -36.2 52.4 -11.9 -21.0 184.9 -4.2 -68.2 -13.7
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 139.3 228.9 179.6 262.5 203.9 35.3 -29.7 3.8
-----------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. 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)--Continued
[Billions of dollars; quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05 II 05
---------------------------------------------------------------------------------------------------------------------------
Personal income............................ 88.2 104.9 96.8 113.3 156.1 129.5 114.9 295.6 64.4 143.0
Compensation of employees, received...... 75.6 79.0 72.1 67.3 99.3 76.9 120.6 171.6 124.0 91.3
Wage and salary disbursements.......... 45.2 58.1 52.0 47.5 67.5 63.3 103.9 140.9 83.9 69.1
Private industries................... 26.8 48.2 49.7 43.6 50.1 52.8 98.9 133.7 72.0 64.0
Goods-producing industries......... 1.8 -.5 2.2 19.2 -3.9 16.9 26.7 20.7 12.2 12.7
Manufacturing.................... 1.4 -3.3 -1.2 13.1 -7.8 8.3 18.5 11.7 7.3 4.8
Services-producing industries...... 25.0 48.7 47.5 24.4 53.9 36.1 72.0 113.1 59.8 51.3
Trade, transportation, and
utilities....................... 8.0 4.6 6.4 7.8 3.0 17.7 16.8 24.8 16.4 8.8
Other services-producing
industries...................... 17.0 44.1 41.1 16.6 51.0 18.3 55.2 88.3 43.4 42.5
Government........................... 18.3 10.0 2.4 3.8 17.4 10.4 5.1 7.2 11.8 5.2
Supplements to wages and salaries...... 30.5 20.8 20.0 19.9 31.8 13.6 16.8 30.6 40.2 22.1
Employer contributions for employee
pension and insurance funds......... 21.6 16.8 16.5 17.3 21.6 10.5 10.4 21.7 30.4 18.6
Employer contributions for government
social insurance.................... 8.8 4.0 3.5 2.6 10.2 3.1 6.4 9.0 9.7 3.5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .2 23.1 19.7 18.9 30.2 28.2 -9.3 11.8 17.0 24.5
Farm................................... 2.1 6.7 1.0 6.9 9.7 -.7 -14.4 -5.1 .1 .5
Nonfarm................................ -1.9 16.3 18.9 11.8 20.6 28.8 5.2 16.9 16.9 24.0
Rental income of persons with capital
consumption adjustment.................. 8.5 -12.3 -5.0 22.8 1.0 -2.4 -19.7 6.6 -10.7 -15.9
Personal income receipts on assets....... 6.1 5.9 -2.9 4.5 8.3 13.5 14.3 115.4 -85.7 29.7
Personal interest income............... 2.2 2.0 -7.5 -2.9 -5.6 -1.5 -.4 2.7 8.0 18.4
Personal dividend income............... 4.0 3.9 4.5 7.5 14.0 14.9 14.7 112.7 -93.7 11.3
Personal current transfer receipts....... 12.7 17.1 19.9 5.5 37.3 20.2 21.7 7.7 39.6 21.1
Government social benefits to persons.. 14.0 17.9 20.6 6.3 37.6 20.2 6.3 22.4 40.2 21.0
Old-age, survivors, disability, and
health insurance benefits........... 9.9 9.4 6.6 9.3 21.0 12.0 8.8 11.8 22.5 14.6
Government unemployment insurance
benefits............................ -2.0 3.4 -.1 -3.1 -8.2 -7.8 -2.0 -.9 -3.0 -1.5
Other................................ 6.1 5.1 14.2 -.1 24.9 16.1 -.6 11.4 20.7 7.9
Other current transfer receipts, from
business (net)........................ -1.3 -.8 -.7 -.8 -.3 -.1 15.5 -14.6 -.7 .1
Less: Contributions for government social
insurance............................... 14.9 7.8 7.1 5.6 20.0 6.7 12.9 17.6 19.8 7.6
Less: Personal current taxes............... -19.5 2.6 -86.1 66.8 2.0 24.4 24.4 35.9 79.7 38.1
Equals: Disposable personal income......... 107.7 102.3 182.9 46.4 154.3 105.0 90.6 259.5 -15.3 105.0
Less: Personal outlays..................... 93.0 86.7 147.4 88.9 161.0 119.7 127.2 158.7 129.6 147.1
Personal consumption expenditures........ 102.1 80.1 147.1 84.2 165.7 113.3 117.6 152.9 119.7 140.5
Durable goods.......................... -1.8 22.5 32.5 -11.1 10.6 .4 19.2 14.8 8.7 19.3
Nondurable goods....................... 46.3 -2.9 60.4 20.1 69.1 52.5 23.2 58.7 39.5 55.2
Services............................... 57.7 60.5 54.2 75.3 85.9 60.5 75.1 79.4 71.4 66.1
Personal interest payments\1\............ -9.5 5.5 .4 -1.8 -5.4 4.2 8.1 5.9 1.9 8.1
Personal current transfer payments....... .5 1.0 -.1 6.5 .8 2.1 1.5 -.1 8.1 -1.6
To government.......................... .8 1.1 1.3 1.6 1.9 1.7 1.6 1.6 1.5 1.4
To the rest of the world (net)......... -.3 -.1 -1.4 4.9 -1.2 .5 -.1 -1.7 6.6 -3.0
Equals: Personal saving.................... 14.7 15.6 35.5 -42.5 -6.8 -14.6 -36.6 100.8 -144.9 -42.1
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 46.2 85.0 135.7 18.6 70.3 23.7 54.5 175.9 -59.2 28.4
---------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. 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)
[Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ .2 .3 .3 .4 .1 .2 -.1 .0 .1 .1 .1 .3 .3 .4
Compensation of employees, received...... .7 .5 .7 .2 .2 .4 -.2 .2 .2 .0 .1 .2 .5 .6
Wage and salary disbursements.......... .3 .2 .4 .0 .2 .4 -.4 .2 .1 -.2 .0 .1 .4 .5
Supplements to wages and salaries...... 2.4 2.0 2.0 .9 .6 .7 .9 .6 .5 1.0 .4 .5 1.2 1.0
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -1.3 .1 -.4 .1 .2 .2 1.1 -.8 -.2 1.3 .5 .0 -.3 -.3
Rental income of persons with capital
consumption adjustment.................. -1.7 -1.0 -1.0 1.1 -2.2 -3.6 -7.9 -4.7 -4.1 -4.5 -1.6 .3 7.2 .4
Personal income receipts on assets....... -.6 -.4 -.3 .3 -.2 -.2 -.2 -.3 -.2 .2 .1 .1 .1 .2
Personal interest income............... -1.5 -1.2 -1.0 -.1 -.7 -.7 -.7 -.7 -.6 .1 .0 .1 .0 .2
Personal dividend income............... 1.8 1.5 1.3 1.1 1.1 1.0 .9 .7 .6 .5 .4 .3 .4 .3
Personal current transfer receipts....... 1.0 .2 -.1 1.7 .2 .2 .2 .2 .6 .3 .2 .9 .0 .2
Less: Contributions for government social
insurance............................... 1.6 .2 .3 .1 .1 .3 -.4 .1 .1 -.2 .0 .2 1.5 .4
Less: Personal current taxes............... -12.6 -.8 -.6 -.4 -.3 .1 .0 .1 .0 -.4 -.2 -.2 -1.7 .1
Equals: Disposable personal income......... 2.3 .4 .4 .6 .2 .2 -.2 .0 .1 .2 .2 .3 .6 .4
Addenda:
Personal consumption expenditures........ .4 .6 .1 1.1 -.5 .6 .7 .2 -.4 .4 .4 .8 .3 .2
Durable goods.......................... 2.1 1.6 -1.3 3.0 -4.3 2.0 3.0 1.5 -4.5 -1.2 .8 3.8 -2.2 -2.2
Nondurable goods....................... .4 .3 .4 1.5 -.8 .9 .0 -.1 .1 .7 .5 .3 .8 .9
Services............................... .1 .6 .3 .5 .5 .2 .6 .0 .3 .6 .3 .4 .6 .4
Real disposable personal income.......... 2.1 .3 .1 .1 .2 .1 -.3 -.3 -.1 .1 .1 .3 .4 .0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
[Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ .5 .2 .6 .4 .3 .3 .3 .3 .7 .4 .7 .6 .5 .4
Compensation of employees, received...... .4 .2 .7 .4 .3 .4 .3 .4 .6 -.1 .9 .5 .4 .3
Wage and salary disbursements.......... .3 .2 .7 .4 .2 .4 .2 .3 .6 -.2 .8 .5 .3 .4
Supplements to wages and salaries...... .9 .3 .5 .4 .6 .6 .6 .4 .6 .5 1.5 .6 .5 .2
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .9 .8 1.9 1.1 .3 .5 1.1 .3 .9 1.4 1.1 1.0 1.7 1.2
Rental income of persons with capital
consumption adjustment.................. -1.3 -6.0 -2.6 -2.0 1.1 -4.5 .4 9.2 12.5 5.3 -6.1 .0 -.3 -.7
Personal income receipts on assets....... .2 .1 .2 .1 -.1 -.2 -.3 .2 .3 .4 .2 .1 .1 .4
Personal interest income............... .1 .0 .1 .0 -.3 -.5 -.6 .1 .2 .2 -.3 -.5 -.4 .1
Personal dividend income............... .3 .3 .3 .3 .3 .4 .5 .5 .7 .9 1.2 1.1 1.2 1.0
Personal current transfer receipts....... .7 .3 .4 .7 .4 .5 .5 -.7 .3 1.0 1.1 1.0 .4 .4
Less: Contributions for government social
insurance............................... .4 .2 .6 .3 .3 .3 .2 .2 .5 -.3 2.2 .4 .2 .1
Less: Personal current taxes............... .1 -.4 .7 .6 -9.6 -5.0 12.7 .3 .6 .0 -.7 .6 .6 1.1
Equals: Disposable personal income......... .5 .2 .6 .4 1.5 .9 -1.0 .3 .7 .4 .8 .5 .4 .4
Addenda:
Personal consumption expenditures........ .8 .0 .2 .8 .5 1.4 -.1 .0 .7 .6 1.0 .2 .8 -.1
Durable goods.......................... 2.3 1.3 .0 1.2 .6 4.2 -2.3 -2.6 1.8 1.5 -1.4 .8 1.3 -2.3
Nondurable goods....................... 1.4 -1.3 -.8 1.6 .5 2.1 .2 -.4 .7 .0 2.3 -.4 2.4 -.4
Services............................... .3 .4 .7 .3 .4 .4 .2 .7 .6 .7 .9 .4 .0 .6
Real disposable personal income.......... .1 .5 .7 .3 1.3 .6 -1.3 .3 .8 .2 .3 .2 .1 .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
[Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ .6 .2 .5 .5 .2 1.0 .7 3.7 -2.4 .5 .4 .7 .2 .5
Compensation of employees, received...... .7 .1 .9 .6 .8 1.0 .9 .8 .5 .5 .4 .7 .1 .2
Wage and salary disbursements.......... .7 .0 1.0 .6 .8 .9 .9 .9 .2 .4 .3 .8 .1 .2
Supplements to wages and salaries...... .5 .2 .5 .5 .5 1.1 .8 .7 1.4 1.0 .9 .5 .2 .3
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .6 .2 -.3 -1.0 -1.3 2.4 .1 .3 1.1 .4 .8 .9 .6 2.0
Rental income of persons with capital
consumption adjustment.................. -.8 -1.0 -1.2 -4.7 -27.8 38.8 -3.1 -2.3 -3.5 -2.1 -3.5 -5.3 -5.9 -5.5
Personal income receipts on assets....... .5 .5 .3 .2 .2 .5 .4 21.8 -17.4 .3 .4 .7 .8 1.3
Personal interest income............... .1 .2 .0 -.2 -.2 .2 .3 .3 .3 .3 .3 .6 .8 1.5
Personal dividend income............... 1.1 1.1 1.1 1.0 1.0 1.0 .8 61.9 -37.8 .3 .6 1.0 .8 .8
Personal current transfer receipts....... .6 .2 -.4 1.8 1.3 -1.6 .7 .7 1.6 .5 .3 .7 .3 .5
Less: Contributions for government social
insurance............................... .7 -.1 .8 .5 .6 .8 .8 .7 1.4 .3 .2 .6 .0 .1
Less: Personal current taxes............... 1.0 .3 .9 .8 1.0 1.1 1.3 1.4 5.2 .7 .5 2.0 .6 .7
Equals: Disposable personal income......... .5 .1 .4 .5 .1 1.0 .6 4.0 -3.3 .4 .4 .5 .2 .5
Addenda:
Personal consumption expenditures........ 1.4 -.2 .9 .1 .5 .9 .5 .7 .2 .7 .5 .8 .0 .8
Durable goods.......................... 3.2 -2.5 3.8 -1.7 .1 .6 .6 2.9 -2.6 1.4 1.3 1.6 -2.9 2.9
Nondurable goods....................... 2.0 -.1 .0 .1 1.1 1.8 -.1 .0 1.0 .9 .1 1.8 -.2 .7
Services............................... .7 .3 .7 .4 .4 .6 .7 .6 .3 .5 .5 .2 .6 .5
Real disposable personal income.......... .1 -.1 .5 .4 .0 .5 .3 4.0 -3.5 .2 .0 .1 .1 .5
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 I 02 II 02 III 02 IV 02
-----------------------------------------------------------------------------------------------------------
Personal income............................ 3.5 1.8 3.2 5.9 2.8 3.6 .2 1.4
Compensation of employees, received...... 2.8 2.5 3.8 5.8 6.0 4.5 1.5 1.2
Wage and salary disbursements.......... 2.4 .8 2.6 5.4 3.1 2.3 -.1 -.3
Supplements to wages and salaries...... 4.8 11.1 9.0 7.3 20.9 15.0 9.0 8.4
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 6.0 -.5 5.4 9.8 -5.7 .3 3.0 4.8
Rental income of persons with capital
consumption adjustment.................. 11.4 -8.6 -13.9 1.9 -9.0 -9.9 -47.3 -33.1
Personal income receipts on assets....... -.5 -3.4 .4 4.3 -5.7 -1.2 -2.7 .3
Personal interest income............... .0 -7.4 -2.0 -1.3 -13.0 -7.2 -7.9 -2.1
Personal dividend income............... -1.9 7.7 6.0 16.5 16.3 15.1 10.6 6.0
Personal current transfer receipts....... 10.1 7.7 4.5 6.2 7.7 7.5 2.7 4.5
Less: Contributions for government social
insurance............................... 4.0 2.6 3.5 5.9 8.5 2.2 .0 -.1
Less: Personal current taxes............... .1 -15.0 -4.9 4.9 -44.2 -4.8 -.1 -2.4
Equals: Disposable personal income......... 4.1 4.6 4.3 6.1 12.6 4.7 .2 1.9
Addenda:
Personal consumption expenditures........ 4.7 4.2 4.9 6.5 2.4 5.2 4.1 3.1
Durable goods.......................... 2.4 4.6 2.8 4.0 -7.3 1.6 9.6 -7.7
Nondurable goods....................... 3.6 3.1 5.3 8.2 3.5 6.8 1.2 4.8
Services............................... 5.7 4.6 5.1 6.3 4.0 5.3 4.3 4.7
Real disposable personal income.......... 1.9 3.1 2.4 3.4 11.6 1.9 -1.6 .2
-----------------------------------------------------------------------------------------------------------
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05 II 05
---------------------------------------------------------------------------------------------------------------------------
Personal income............................ 4.0 4.7 4.3 5.0 6.9 5.6 4.9 12.7 2.6 5.8
Compensation of employees, received...... 5.0 5.2 4.7 4.3 6.3 4.8 7.5 10.6 7.4 5.3
Wage and salary disbursements.......... 3.7 4.7 4.2 3.7 5.3 4.9 8.0 10.8 6.2 5.0
Supplements to wages and salaries...... 11.0 7.3 6.8 6.7 10.7 4.3 5.3 9.8 12.6 6.6
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .1 12.4 10.2 9.5 15.2 13.6 -4.0 5.4 7.8 11.1
Rental income of persons with capital
consumption adjustment.................. 29.1 -31.2 -15.0 99.7 2.9 -6.7 -44.9 23.6 -29.5 -43.8
Personal income receipts on assets....... 1.9 1.8 -.9 1.4 2.5 4.0 4.3 37.9 -21.0 8.7
Personal interest income............... .9 .9 -3.2 -1.3 -2.5 -.6 -.2 1.2 3.6 8.3
Personal dividend income............... 3.9 3.8 4.4 7.3 13.6 14.1 13.5 134.9 -50.2 9.5
Personal current transfer receipts....... 3.9 5.3 6.1 1.6 11.4 5.9 6.3 2.2 11.4 5.8
Less: Contributions for government social
insurance............................... 8.2 4.1 3.7 2.9 10.6 3.4 6.5 8.8 9.7 3.6
Less: Personal current taxes............... -7.2 1.0 -29.6 31.6 .8 10.0 9.8 14.3 32.5 13.6
Equals: Disposable personal income......... 5.6 5.2 9.4 2.3 7.6 5.1 4.3 12.5 -.7 4.8
Addenda:
Personal consumption expenditures........ 5.6 4.3 7.9 4.4 8.7 5.8 5.9 7.6 5.8 6.7
Durable goods.......................... -.8 10.1 14.5 -4.5 4.5 .2 8.1 6.1 3.5 7.8
Nondurable goods....................... 9.1 -.5 11.7 3.7 13.0 9.4 4.0 10.3 6.6 9.2
Services............................... 5.3 5.5 4.9 6.7 7.6 5.2 6.4 6.7 5.9 5.4
Real disposable personal income.......... 2.5 4.5 7.2 1.0 3.6 1.2 2.8 9.1 -2.9 1.4
---------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,004.0 7,022.6 7,057.3 7,046.7 7,092.3 7,060.0 7,098.1 7,138.1 7,136.3 7,095.1 7,117.5 7,138.8 7,188.4 7,193.5 7,176.8
Durable goods............................ 915.7 937.7 959.2 948.4 977.4 936.0 957.3 987.7 1,003.4 959.1 949.2 960.4 1,001.7 983.6 964.7
Nondurable goods......................... 2,026.2 2,027.1 2,028.7 2,024.5 2,032.2 2,025.7 2,042.3 2,039.8 2,033.1 2,032.0 2,045.7 2,054.3 2,059.4 2,066.7 2,063.4
Services................................. 4,062.7 4,059.9 4,072.4 4,076.0 4,086.8 4,099.2 4,101.1 4,115.2 4,105.6 4,106.2 4,123.6 4,126.1 4,132.7 4,146.7 4,149.8
------------------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .4 18.6 34.7 -10.6 45.6 -32.3 38.1 40.0 -1.8 -41.2 22.4 21.3 49.6 5.1 -16.7
Durable goods............................ -42.2 22.0 21.5 -10.8 29.0 -41.4 21.3 30.4 15.7 -44.3 -9.9 11.2 41.3 -18.1 -18.9
Nondurable goods......................... 23.5 .9 1.6 -4.2 7.7 -6.5 16.6 -2.5 -6.7 -1.1 13.7 8.6 5.1 7.3 -3.3
Services................................. 17.0 -2.8 12.5 3.6 10.8 12.4 1.9 14.1 -9.6 .6 17.4 2.5 6.6 14.0 3.1
------------------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .0 .3 .5 -.2 .6 -.5 .5 .6 .0 -.6 .3 .3 .7 .1 -.2
Durable goods............................ -4.4 2.4 2.3 -1.1 3.1 -4.2 2.3 3.2 1.6 -4.4 -1.0 1.2 4.3 -1.8 -1.9
Nondurable goods......................... 1.2 .0 .1 -.2 .4 -.3 .8 -.1 -.3 -.1 .7 .4 .2 .4 -.2
Services................................. .4 -.1 .3 .1 .3 .3 .0 .3 -.2 .0 .4 .1 .2 .3 .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,206.3 7,225.0 7,248.4 7,297.2 7,318.1 7,395.0 7,368.9 7,369.6 7,426.3 7,453.4 7,494.1 7,487.9 7,522.2 7,501.3
Durable goods............................ 988.9 1,004.6 1,010.4 1,027.0 1,036.4 1,082.7 1,063.8 1,039.5 1,060.5 1,080.0 1,061.3 1,069.4 1,083.9 1,058.3
Nondurable goods......................... 2,078.5 2,069.6 2,069.5 2,098.3 2,104.8 2,133.7 2,125.0 2,126.9 2,146.4 2,138.6 2,173.6 2,154.2 2,187.9 2,176.1
Services................................. 4,142.9 4,156.0 4,173.8 4,179.3 4,185.4 4,193.1 4,192.1 4,211.1 4,229.7 4,247.2 4,268.7 4,274.5 4,263.7 4,275.8
----------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 29.5 18.7 23.4 48.8 20.9 76.9 -26.1 .7 56.7 27.1 40.7 -6.2 34.3 -20.9
Durable goods............................ 24.2 15.7 5.8 16.6 9.4 46.3 -18.9 -24.3 21.0 19.5 -18.7 8.1 14.5 -25.6
Nondurable goods......................... 15.1 -8.9 -.1 28.8 6.5 28.9 -8.7 1.9 19.5 -7.8 35.0 -19.4 33.7 -11.8
Services................................. -6.9 13.1 17.8 5.5 6.1 7.7 -1.0 19.0 18.6 17.5 21.5 5.8 -10.8 12.1
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .4 .3 .3 .7 .3 1.1 -.4 .0 .8 .4 .5 -.1 .5 -.3
Durable goods............................ 2.5 1.6 .6 1.6 .9 4.5 -1.7 -2.3 2.0 1.8 -1.7 .8 1.4 -2.4
Nondurable goods......................... .7 -.4 .0 1.4 .3 1.4 -.4 .1 .9 -.4 1.6 -.9 1.6 -.5
Services................................. -.2 .3 .4 .1 .1 .2 .0 .5 .4 .4 .5 .1 -.3 .3
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,569.4 7,539.1 7,606.7 7,607.1 7,638.7 7,670.2 7,686.4 7,739.8 7,740.7 7,774.3 7,779.7 7,810.3 7,804.5 7,869.8
Durable goods............................ 1,092.7 1,066.5 1,110.3 1,095.0 1,096.0 1,100.1 1,106.9 1,138.3 1,106.2 1,122.9 1,137.8 1,156.5 1,120.6 1,157.7
Nondurable goods......................... 2,195.5 2,186.7 2,197.0 2,200.7 2,223.0 2,236.7 2,232.1 2,240.7 2,265.1 2,276.3 2,255.4 2,273.4 2,279.3 2,299.0
Services................................. 4,294.7 4,295.2 4,315.3 4,324.3 4,332.5 4,346.2 4,360.9 4,379.0 4,381.9 4,390.4 4,403.7 4,401.2 4,418.2 4,432.8
----------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 68.1 -30.3 67.6 .4 31.6 31.5 16.2 53.4 .9 33.6 5.4 30.6 -5.8 65.3
Durable goods............................ 34.4 -26.2 43.8 -15.3 1.0 4.1 6.8 31.4 -32.1 16.7 14.9 18.7 -35.9 37.1
Nondurable goods......................... 19.4 -8.8 10.3 3.7 22.3 13.7 -4.6 8.6 24.4 11.2 -20.9 18.0 5.9 19.7
Services................................. 18.9 .5 20.1 9.0 8.2 13.7 14.7 18.1 2.9 8.5 13.3 -2.5 17.0 14.6
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .9 -.4 .9 .0 .4 .4 .2 .7 .0 .4 .1 .4 -.1 .8
Durable goods............................ 3.3 -2.4 4.1 -1.4 .1 .4 .6 2.8 -2.8 1.5 1.3 1.6 -3.1 3.3
Nondurable goods......................... .9 -.4 .5 .2 1.0 .6 -.2 .4 1.1 .5 -.9 .8 .3 .9
Services................................. .4 .0 .5 .2 .2 .3 .3 .4 .1 .2 .3 -.1 .4 .3
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 IV 01 I 02 II 02 III 02 IV 02
-------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------
Billions of chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 6,910.4 7,099.3 7,306.6 7,588.6 7,017.6 7,042.2 7,083.5 7,123.2 7,148.2
Durable goods............................ 900.7 964.8 1,028.5 1,089.9 958.7 948.4 956.9 983.4 970.4
Nondurable goods......................... 1,986.7 2,037.1 2,101.8 2,200.4 2,010.3 2,026.8 2,033.4 2,035.0 2,053.1
Services................................. 4,023.2 4,100.4 4,183.9 4,310.9 4,051.2 4,069.4 4,095.7 4,109.0 4,127.4
------------------------------------------------------------------------
Change from preceding period in
billions of chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 171.0 188.9 207.3 282.0 117.1 24.6 41.3 39.7 25.0
Durable goods............................ 37.4 64.1 63.7 61.4 73.1 -10.3 8.5 26.5 -13.0
Nondurable goods......................... 39.5 50.4 64.7 98.6 23.8 16.5 6.6 1.6 18.1
Services................................. 94.4 77.2 83.5 127.0 23.4 18.2 26.3 13.3 18.4
------------------------------------------------------------------------
Percent change from preceding period
in chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 2.5 2.7 2.9 3.9 7.0 1.4 2.4 2.3 1.4
Durable goods............................ 4.3 7.1 6.6 6.0 37.4 -4.2 3.6 11.5 -5.2
Nondurable goods......................... 2.0 2.5 3.2 4.7 4.9 3.3 1.3 .3 3.6
Services................................. 2.4 1.9 2.0 3.0 2.3 1.8 2.6 1.3 1.8
-------------------------------------------------------------------------------------------------------------------
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05 II 05
---------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Billions of chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,192.2 7,256.8 7,360.7 7,416.4 7,501.4 7,536.6 7,617.5 7,698.8 7,764.9 7,828.3
Durable goods............................ 979.1 1,014.0 1,061.0 1,060.0 1,071.6 1,072.5 1,100.4 1,115.1 1,122.3 1,144.9
Nondurable goods......................... 2,069.5 2,079.1 2,121.2 2,137.3 2,171.9 2,186.1 2,206.9 2,236.5 2,265.6 2,283.9
Services................................. 4,146.5 4,169.7 4,190.2 4,229.4 4,269.0 4,288.6 4,324.0 4,362.1 4,392.0 4,417.4
--------------------------------------------------------------------------------
Change from preceding period in
billions of chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 44.0 64.6 103.9 55.7 85.0 35.2 80.9 81.3 66.1 63.4
Durable goods............................ 8.7 34.9 47.0 -1.0 11.6 .9 27.9 14.7 7.2 22.6
Nondurable goods......................... 16.4 9.6 42.1 16.1 34.6 14.2 20.8 29.6 29.1 18.3
Services................................. 19.1 23.2 20.5 39.2 39.6 19.6 35.4 38.1 29.9 25.4
--------------------------------------------------------------------------------
Percent change from preceding period
in chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 2.5 3.6 5.8 3.1 4.7 1.9 4.4 4.3 3.5 3.3
Durable goods............................ 3.6 15.1 19.8 -.3 4.4 .4 10.8 5.5 2.6 8.3
Nondurable goods......................... 3.2 1.9 8.3 3.1 6.6 2.6 3.9 5.5 5.3 3.3
Services................................. 1.9 2.3 2.0 3.8 3.8 1.8 3.4 3.6 2.8 2.3
---------------------------------------------------------------------------------------------------------------------------
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 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 102.315 102.480 102.620 102.921 103.357 103.349 103.448 103.621 103.853 104.050 104.174 104.273 104.357 104.589 105.064
Durable goods............................ 97.254 96.963 96.337 96.186 96.150 96.118 95.818 95.665 95.580 95.538 95.350 94.981 94.506 94.150 93.883
Nondurable goods......................... 100.147 100.519 100.751 101.415 102.537 102.046 102.132 102.249 102.511 102.632 102.701 102.785 102.794 103.251 104.318
Services................................. 104.514 104.679 104.953 105.179 105.385 105.622 105.818 106.096 106.390 106.683 106.908 107.123 107.380 107.641 107.995
Addenda:
PCE excluding food and energy............ 102.778 102.875 103.062 103.155 103.412 103.491 103.609 103.763 104.009 104.180 104.219 104.304 104.378 104.464 104.587
Market-based PCE\1\...................... 101.933 102.068 102.174 102.467 102.947 102.892 102.973 103.140 103.367 103.576 103.703 103.812 103.870 104.125 104.613
Market-based PCE excluding food
and energy\1\........................... 102.385 102.431 102.584 102.625 102.898 102.937 103.036 103.180 103.424 103.604 103.629 103.726 103.766 103.852 103.919
------------------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
PCE........................................ -.2 .2 .1 .3 .4 .0 .1 .2 .2 .2 .1 .1 .1 .2 .5
Durable goods............................ -.1 -.3 -.6 -.2 .0 .0 -.3 -.2 -.1 .0 -.2 -.4 -.5 -.4 -.3
Nondurable goods......................... -.7 .4 .2 .7 1.1 -.5 .1 .1 .3 .1 .1 .1 .0 .4 1.0
Services................................. .1 .2 .3 .2 .2 .2 .2 .3 .3 .3 .2 .2 .2 .2 .3
Addenda:
PCE excluding food and energy............ .0 .1 .2 .1 .2 .1 .1 .1 .2 .2 .0 .1 .1 .1 .1
Market-based PCE\1\...................... -.2 .1 .1 .3 .5 -.1 .1 .2 .2 .2 .1 .1 .1 .2 .5
Market-based PCE excluding food
and energy\1\........................... .0 .0 .1 .0 .3 .0 .1 .1 .2 .2 .0 .1 .0 .1 .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 105.499 105.275 105.151 105.234 105.422 105.751 106.029 106.016 105.988 106.224 106.720 107.068 107.464 107.677
Durable goods............................ 93.685 93.395 92.811 92.432 92.173 91.921 91.406 91.104 90.908 90.591 90.870 90.928 90.895 90.917
Nondurable goods......................... 104.968 104.057 103.216 103.408 103.635 104.395 105.039 104.563 104.292 104.671 105.408 105.907 106.777 106.890
Services................................. 108.472 108.609 108.955 109.096 109.377 109.634 109.930 110.223 110.358 110.661 111.086 111.429 111.691 112.003
Addenda:
PCE excluding food and energy............ 104.723 104.775 104.882 104.919 105.137 105.274 105.366 105.527 105.593 105.738 106.072 106.307 106.579 106.776
Market-based PCE\1\...................... 105.053 104.817 104.656 104.732 104.922 105.252 105.522 105.472 105.368 105.576 106.020 106.337 106.728 106.914
Market-based PCE excluding food
and energy\1\........................... 104.001 104.095 104.202 104.222 104.448 104.548 104.593 104.743 104.734 104.823 105.060 105.231 105.473 105.632
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
PCE........................................ .4 -.2 -.1 .1 .2 .3 .3 .0 .0 .2 .5 .3 .4 .2
Durable goods............................ -.2 -.3 -.6 -.4 -.3 -.3 -.6 -.3 -.2 -.3 .3 .1 .0 .0
Nondurable goods......................... .6 -.9 -.8 .2 .2 .7 .6 -.5 -.3 .4 .7 .5 .8 .1
Services................................. .4 .1 .3 .1 .3 .2 .3 .3 .1 .3 .4 .3 .2 .3
Addenda:
PCE excluding food and energy............ .1 .0 .1 .0 .2 .1 .1 .2 .1 .1 .3 .2 .3 .2
Market-based PCE\1\...................... .4 -.2 -.2 .1 .2 .3 .3 .0 -.1 .2 .4 .3 .4 .2
Market-based PCE excluding food
and energy\1\........................... .1 .1 .1 .0 .2 .1 .0 .1 .0 .1 .2 .2 .2 .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 108.165 108.425 108.389 108.462 108.601 109.146 109.420 109.411 109.599 109.878 110.329 110.810 110.857 110.856
Durable goods............................ 90.879 90.804 90.510 90.193 90.226 90.421 90.429 90.496 90.741 90.620 90.584 90.515 90.719 90.375
Nondurable goods......................... 108.021 108.321 107.795 107.735 107.813 109.064 109.158 108.723 108.667 109.102 110.211 111.265 110.781 110.553
Services................................. 112.292 112.615 112.894 113.134 113.332 113.603 114.036 114.225 114.526 114.824 115.060 115.385 115.665 115.869
Addenda:
PCE excluding food and energy............ 106.974 107.147 107.239 107.325 107.508 107.795 108.033 108.112 108.427 108.611 108.812 108.921 109.158 109.201
Market-based PCE\1\...................... 107.398 107.653 107.578 107.607 107.695 108.232 108.477 108.424 108.602 108.884 109.358 109.859 109.887 109.885
Market-based PCE excluding food
and energy\1\........................... 105.768 105.916 105.985 106.019 106.145 106.370 106.565 106.607 106.934 107.103 107.282 107.342 107.593 107.644
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
PCE........................................ .5 .2 .0 .1 .1 .5 .3 .0 .2 .3 .4 .4 .0 .0
Durable goods............................ .0 -.1 -.3 -.4 .0 .2 .0 .1 .3 -.1 .0 -.1 .2 -.4
Nondurable goods......................... 1.1 .3 -.5 -.1 .1 1.2 .1 -.4 -.1 .4 1.0 1.0 -.4 -.2
Services................................. .3 .3 .2 .2 .2 .2 .4 .2 .3 .3 .2 .3 .2 .2
Addenda:
PCE excluding food and energy............ .2 .2 .1 .1 .2 .3 .2 .1 .3 .2 .2 .1 .2 .0
Market-based PCE\1\...................... .5 .2 -.1 .0 .1 .5 .2 .0 .2 .3 .4 .5 .0 .0
Market-based PCE excluding food
and energy\1\........................... .1 .1 .1 .0 .1 .2 .2 .0 .3 .2 .2 .1 .2 .0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 1.7 3.5 3.8 3.7 4.3 4.7 4.7 2.6 .6 .9 3.1 2.9 2.7 1.0 .6
Personal consumption expenditures.......... 2.2 2.6 2.8 2.8 3.5 2.6 3.2 3.4 2.9 3.3 1.0 1.9 2.6 2.4 1.7
Durable goods............................ 6.0 8.5 7.6 7.5 13.2 6.7 6.8 11.9 11.3 9.9 -5.3 .3 9.4 4.9 .6
Nondurable goods......................... 2.2 2.2 2.6 3.1 2.9 2.2 3.8 2.5 1.7 3.1 2.2 2.6 1.6 2.0 1.7
Services................................. 1.4 1.6 2.0 1.8 1.9 2.0 2.1 2.2 1.8 2.1 1.9 2.0 1.7 2.1 1.9
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. .6 .9 1.5 1.7 3.4 4.3 3.1 3.3 4.0 4.0 3.9 4.2 4.1 3.8
Personal consumption expenditures.......... 2.3 1.9 2.7 2.8 2.5 3.6 3.9 3.5 4.0 3.7 4.2 4.3 4.4 3.8
Durable goods............................ 4.3 2.8 7.9 7.3 4.9 7.9 10.9 9.5 10.4 7.8 7.9 10.9 9.6 5.3
Nondurable goods......................... 2.7 1.8 2.2 2.7 3.2 4.9 4.6 4.0 4.5 3.8 5.2 4.4 5.3 5.1
Services................................. 1.6 1.7 1.8 1.9 1.7 2.1 2.1 2.1 2.5 2.8 2.9 3.0 2.9 2.9
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 3.2 2.7 1.8 1.7 2.9 3.1 2.7 6.6 2.5 2.5 2.4 2.3 2.3 2.9
Personal consumption expenditures.......... 4.4 3.3 3.9 2.9 3.7 4.1 3.5 3.8 3.3 3.8 3.4 4.1 3.1 4.4
Durable goods............................ 8.1 3.8 7.1 1.1 3.0 5.8 4.4 5.4 4.2 5.0 5.0 9.3 2.5 8.5
Nondurable goods......................... 6.1 4.2 4.4 3.1 4.6 5.2 4.0 4.8 4.2 5.7 3.1 4.5 3.8 5.1
Services................................. 2.9 2.8 3.1 3.1 3.4 3.2 3.1 3.1 2.7 2.7 3.3 2.9 2.9 3.2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 1.5 1.1 1.1 1.3 1.5 1.1 1.0 1.2 1.4 1.9 1.6 1.7 2.0 2.1 2.4
Durable goods............................ -2.3 -2.5 -2.8 -2.7 -2.6 -2.2 -2.4 -2.7 -2.3 -1.4 -2.0 -2.4 -2.8 -2.9 -2.5
Nondurable goods......................... -.8 -.7 -.6 .3 .9 -.3 -.3 .5 1.0 .2 1.1 1.9 2.6 2.7 3.5
Services................................. 3.4 2.8 2.7 2.7 2.6 2.6 2.4 2.5 2.4 3.4 2.7 2.6 2.7 2.8 2.9
Addenda:
PCE excluding food and energy............ 2.2 1.9 1.8 1.8 1.8 1.8 1.7 1.6 1.7 2.4 1.6 1.5 1.6 1.5 1.5
Market-based PCE\1\...................... 1.0 .7 .6 .9 1.2 .8 .7 1.0 1.2 1.2 1.5 1.6 1.9 2.0 2.4
Market-based PCE excluding food
and energy\1\........................... 1.8 1.5 1.5 1.4 1.5 1.6 1.5 1.3 1.5 1.6 1.5 1.3 1.3 1.4 1.3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 2.5 1.9 1.7 1.7 1.7 1.8 1.9 1.8 1.6 1.8 2.0 1.9 1.9 2.3
Durable goods............................ -2.6 -2.9 -3.4 -3.5 -3.7 -3.8 -4.3 -4.5 -4.3 -4.1 -3.5 -3.1 -3.0 -2.7
Nondurable goods......................... 3.5 1.5 1.1 1.2 1.4 1.8 2.3 1.8 1.5 1.8 2.1 1.5 1.7 2.7
Services................................. 3.1 3.1 3.2 3.1 3.1 3.0 3.0 3.1 3.0 3.1 3.2 3.2 3.0 3.1
Addenda:
PCE excluding food and energy............ 1.5 1.3 1.3 1.3 1.3 1.2 1.1 1.3 1.2 1.3 1.5 1.6 1.8 1.9
Market-based PCE\1\...................... 2.5 1.8 1.7 1.7 1.7 1.8 1.9 1.7 1.5 1.6 1.8 1.6 1.6 2.0
Market-based PCE excluding food
and energy\1\........................... 1.3 1.2 1.2 1.2 1.2 1.1 1.0 1.1 1.0 1.0 1.2 1.3 1.4 1.5
-----------------------------------------------------------------------------------------------------------------------------------------------------------
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05/p/
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 2.9 3.0 2.8 2.6 2.4 3.0 3.2 3.0 2.7 2.6 2.7 2.9 2.5 2.2
Durable goods............................ -2.1 -1.8 -1.8 -1.9 -1.3 -.7 -.5 -.1 -.1 -.3 -.3 -.4 -.2 -.5
Nondurable goods......................... 4.7 4.8 4.0 3.2 2.6 4.3 4.7 3.9 3.1 3.0 3.2 4.1 2.6 2.1
Services................................. 3.1 3.2 3.2 3.2 3.1 3.1 3.3 3.2 3.1 3.0 3.0 3.0 3.0 2.9
Addenda:
PCE excluding food and energy............ 2.0 2.1 2.0 1.9 2.0 2.1 2.3 2.2 2.2 2.2 2.1 2.0 2.0 1.9
Market-based PCE\1\...................... 2.6 2.8 2.5 2.2 2.1 2.6 3.0 2.7 2.4 2.4 2.5 2.8 2.3 2.1
Market-based PCE excluding food
and energy\1\........................... 1.5 1.6 1.5 1.4 1.5 1.6 1.7 1.7 1.8 1.8 1.7 1.6 1.7 1.6
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
1. This index is a supplemental measure that is based on household
expenditures for which there are observable price measures. It
excludes most implicit prices (for example, the services furnished
without payment by financial intermediaries) and the expenses of
nonprofit institutions.
Table 12.--Revisions to Personal Income and Its Disposition
-------------------------------------------------------------------------------------------------------------------------------------
Billions of dollars
------------------------ ------------------------ Revisions as a
Revised Revisions to percentage of
estimates previously previously
published published
------------------------ ------------------------ ------------------------
2002 2003 2004 2002 2003 2004 2002 2003 2004
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,881.9 9,169.1 9,713.3 3.0 7.3 23.7 .0 .1 .2
Compensation of employees, received...... 6,091.2 6,321.1 6,687.6 21.7 32.1 36.6 .4 .5 .6
Wage and salary disbursements.......... 4,980.9 5,111.1 5,389.4 4.6 7.5 15.9 .1 .1 .3
Private industries................... 4,115.0 4,207.8 4,450.0 1.3 2.2 2.1 .0 .1 .0
Goods-producing industries......... 1,010.7 1,007.2 1,049.9 .5 -.5 2.8 .0 .0 .3
Manufacturing.................... 675.5 668.7 687.7 .3 -.1 -.9 .0 .0 -.1
Services-producing industries...... 3,104.2 3,200.6 3,400.1 .7 2.6 -.7 .0 .1 .0
Trade, transportation, and
utilities....................... 843.1 858.6 899.7 -.5 .0 4.3 -.1 .0 .5
Other services-producing
industries...................... 2,261.1 2,342.0 2,500.4 1.2 2.6 -5.0 .1 .1 -.2
Government........................... 865.9 903.3 939.5 3.3 5.4 13.9 .4 .6 1.5
Supplements to wages and salaries...... 1,110.3 1,210.0 1,298.1 17.1 24.5 20.6 1.6 2.1 1.6
Employer contributions for employee
pension and insurance funds......... 745.1 830.0 895.5 15.5 21.1 18.9 2.1 2.6 2.2
Employer contributions for government
social insurance.................... 365.2 380.0 402.7 1.6 3.4 1.8 .4 .9 .4
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 768.4 810.2 889.6 -1.2 -23.9 -13.2 -.2 -2.9 -1.5
Farm................................... 10.6 27.7 35.8 .9 5.9 17.6 9.3 27.1 96.7
Nonfarm................................ 757.8 782.4 853.8 -2.1 -29.9 -30.8 -.3 -3.7 -3.5
Rental income of persons with capital
consumption adjustment.................. 152.9 131.7 134.2 -18.0 -22.1 -30.9 -10.5 -14.4 -18.7
Personal income receipts on assets....... 1,333.2 1,338.7 1,396.5 -1.4 16.0 9.2 -.1 1.2 .7
Personal interest income............... 936.1 917.6 905.9 -10.6 -12.3 -40.3 -1.1 -1.3 -4.3
Personal dividend income............... 397.2 421.1 490.6 9.3 28.3 49.5 2.4 7.2 11.2
Personal current transfer receipts....... 1,286.2 1,344.0 1,427.5 3.5 8.6 21.6 .3 .6 1.5
Government social benefits to persons.. 1,248.9 1,313.5 1,394.5 .0 7.1 21.3 .0 .5 1.6
Old-age, survivors, disability, and
health insurance benefits........... 707.5 739.3 789.3 -.8 5.5 10.1 -.1 .7 1.3
Government unemployment insurance
benefits............................ 53.2 52.8 36.0 .0 .0 1.4 .0 .0 4.0
Other................................ 488.2 521.4 569.2 .7 1.6 9.7 .1 .3 1.7
Other current transfer receipts, from
business (net)........................ 37.3 30.5 33.0 3.6 1.6 .3 10.7 5.5 .9
Less: Contributions for government social
insurance............................... 750.0 776.6 822.2 1.7 3.4 -.4 .2 .4 .0
Less: Personal current taxes............... 1,051.8 999.9 1,049.1 .6 -2.0 6.5 .1 -.2 .6
Equals: Disposable personal income......... 7,830.1 8,169.2 8,664.2 2.4 9.3 17.3 .0 .1 .2
Less: Personal outlays..................... 7,645.3 7,996.3 8,512.5 -23.2 -53.0 -19.4 -.3 -.7 -.2
Personal consumption expenditures........ 7,350.7 7,709.9 8,214.3 -25.4 -51.0 -15.6 -.3 -.7 -.2
Durable goods.......................... 923.9 950.1 987.8 7.7 -.6 -6.1 .8 -.1 -.6
Nondurable goods....................... 2,079.6 2,189.0 2,368.3 -.5 -11.1 -8.7 .0 -.5 -.4
Services............................... 4,347.2 4,570.8 4,858.2 -32.6 -39.3 -.8 -.7 -.9 .0
Personal interest payments\1\............ 196.4 183.2 186.7 -.8 -2.1 -1.8 -.4 -1.1 -1.0
Personal current transfer payments....... 98.2 103.3 111.5 2.9 .2 -2.0 3.0 .2 -1.8
To government.......................... 58.2 62.1 68.6 -1.3 -2.8 -2.4 -2.2 -4.3 -3.4
To the rest of the world (net)......... 40.0 41.2 42.9 4.3 3.0 .4 12.0 7.9 .9
Equals: Personal saving.................... 184.7 172.8 151.8 25.5 62.2 36.8 16.0 56.2 32.0
Personal saving as a percentage of
disposable personal income.............. 2.4 2.1 1.8 .4 .7 .5 20.0 50.0 38.5
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,562.2 7,741.8 8,004.3 2.7 8.0 -15.0 .0 .1 -.2
Per capita:
Current dollars...................... 27,165 28,065 29,475 6 31 59 0 1 2
Chained (2000) dollars............... 26,236 26,596 27,230 7 26 -51 0 1 -2
Population (midperiod, thousands)\3\..... 288.2 291.1 294.0 .0 .0 .0 .0 .0 .0
-------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population.
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)
------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 17.9 20.3 24.3 26.0 38.8 10.3 18.3 -12.8 -2.1 6.1 11.5 10.5 24.5 31.0 35.2
Previously published............ 17.9 6.7 26.0 30.0 47.2 14.9 23.1 -21.3 -3.0 4.6 8.6 9.7 18.9 29.3 36.3
Disposable personal income........ 21.2 174.2 32.8 32.3 43.3 13.0 17.1 -12.3 -2.8 6.6 15.3 12.9 26.6 49.0 34.4
Previously published............ 21.2 159.2 33.7 34.5 53.0 18.3 23.2 -17.8 -2.5 5.7 12.6 11.5 19.7 45.3 33.6
Personal consumption expenditures. -11.3 30.6 45.5 10.3 77.9 -34.0 46.4 53.8 14.6 -28.7 32.0 29.3 57.7 22.1 16.5
Previously published............ -11.3 34.9 48.8 10.6 86.7 -39.0 55.2 74.3 3.2 -34.5 30.4 52.9 84.8 -1.8 28.3
Personal saving as a percentage
of disposable personal income...... 1.1 2.9 2.8 3.0 2.6 3.1 2.8 1.9 1.7 2.2 2.0 1.8 1.5 1.9 2.1
Previously published.............. 1.1 2.7 2.5 2.8 2.3 3.1 2.6 1.5 1.4 1.9 1.7 1.3 .5 1.0 1.1
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Personal income..................... .2 .2 .3 .3 .4 .1 .2 -.1 .0 .1 .1 .1 .3 .3 .4
Previously published.............. .2 .1 .3 .3 .5 .2 .3 -.2 .0 .1 .1 .1 .2 .3 .4
Disposable personal income.......... .3 2.3 .4 .4 .6 .2 .2 -.2 .0 .1 .2 .2 .3 .6 .4
Previously published.............. .3 2.1 .4 .4 .7 .2 .3 -.2 .0 .1 .2 .1 .2 .6 .4
Personal consumption expenditures... -.2 .4 .6 .1 1.1 -.5 .6 .7 .2 -.4 .4 .4 .8 .3 .2
Previously published.............. -.2 .5 .7 .1 1.2 -.5 .8 1.0 .0 -.5 .4 .7 1.1 .0 .4
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .4 2.1 .3 .1 .1 .2 .1 -.3 -.3 -.1 .1 .1 .3 .4 .0
Previously published.............. .4 2.0 .3 .1 .3 .2 .2 -.4 -.2 -.1 .2 .0 .0 .4 .1
Real personal consumption
expenditures....................... .0 .3 .5 -.2 .6 -.5 .5 .6 .0 -.6 .3 .3 .7 .1 -.2
Previously published.............. .0 .3 .5 -.2 .8 -.5 .6 .8 -.2 -.6 .5 .5 .9 -.2 .0
------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
----------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
----------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 41.7 14.7 56.6 38.9 24.8 26.0 29.5 28.0 67.7 35.4 61.1 52.0 42.8 41.1
Previously published............ 41.0 14.5 53.6 41.4 24.3 33.5 34.8 32.9 61.3 37.4 28.8 41.8 39.0 65.1
Disposable personal income........ 41.2 19.2 50.0 32.6 123.6 72.7 -82.8 24.8 61.3 35.2 67.7 45.7 36.7 30.4
Previously published............ 39.0 18.1 46.9 35.7 124.9 81.0 -77.0 27.4 55.7 38.1 36.3 38.2 36.3 50.1
Personal consumption expenditures. 62.3 3.6 15.7 57.3 35.7 105.3 -7.0 -.2 57.8 46.4 80.3 19.5 66.5 -6.5
Previously published............ 55.6 15.0 13.5 48.0 43.0 78.6 -17.2 17.2 66.1 49.2 45.8 52.0 30.2 10.6
Personal saving as a percentage
of disposable personal income...... 1.8 2.0 2.3 2.0 3.1 2.6 1.7 2.0 2.0 1.9 1.7 2.1 1.7 2.1
Previously published.............. .9 .9 1.3 1.2 2.2 2.2 1.4 1.5 1.3 1.2 1.1 .9 1.0 1.5
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal income..................... .5 .2 .6 .4 .3 .3 .3 .3 .7 .4 .7 .6 .5 .4
Previously published.............. .5 .2 .6 .5 .3 .4 .4 .4 .7 .4 .3 .4 .4 .7
Disposable personal income.......... .5 .2 .6 .4 1.5 .9 -1.0 .3 .7 .4 .8 .5 .4 .4
Previously published.............. .5 .2 .6 .4 1.5 1.0 -.9 .3 .7 .5 .4 .5 .4 .6
Personal consumption expenditures... .8 .0 .2 .8 .5 1.4 -.1 .0 .7 .6 1.0 .2 .8 -.1
Previously published.............. .7 .2 .2 .6 .6 1.0 -.2 .2 .8 .6 .6 .6 .4 .1
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .1 .5 .7 .3 1.3 .6 -1.3 .3 .8 .2 .3 .2 .1 .2
Previously published.............. .2 .4 .6 .3 1.4 .7 -1.1 .3 .7 .2 .0 .2 .1 .4
Real personal consumption
expenditures....................... .4 .3 .3 .7 .3 1.1 -.4 .0 .8 .4 .5 -.1 .5 -.3
Previously published.............. .4 .4 .2 .5 .5 .8 -.4 .2 .9 .4 .2 .4 .1 .0
----------------------------------------------------------------------------------------------------------------------------------------------------
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
--------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05
--------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
--------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 56.5 14.5 46.2 50.8 19.2 99.4 66.5 366.1 -246.2 46.5 40.0 67.8 23.2
Previously published............ 53.8 20.4 44.3 37.8 20.1 102.2 88.4 397.8 -256.8 48.8 47.8 65.4 23.5
Disposable personal income........ 46.6 11.5 36.6 42.1 8.1 88.1 52.5 351.2 -303.4 37.8 33.7 44.3 15.9
Previously published............ 45.8 18.4 34.5 33.2 15.8 85.1 74.5 383.8 -310.9 39.7 40.6 41.9 16.0
Personal consumption expenditures. 110.1 -13.1 70.6 6.0 44.9 75.9 38.8 57.8 15.5 58.5 41.0 71.4 -2.7
Previously published............ 81.5 -26.5 96.4 7.9 52.6 55.1 34.6 74.7 -2.9 50.7 68.9 55.4 .5
Personal saving as a percentage
of disposable personal income...... 1.3 1.5 1.1 1.5 1.0 1.1 1.3 4.4 .9 .6 .5 .2 .4
Previously published.............. 1.0 1.5 .7 1.0 .5 .8 1.2 4.5 1.1 1.0 .6 .5 .6
--------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Personal income..................... .6 .2 .5 .5 .2 1.0 .7 3.7 -2.4 .5 .4 .7 .2
Previously published.............. .6 .2 .5 .4 .2 1.1 .9 4.0 -2.5 .5 .5 .6 .2
Disposable personal income.......... .5 .1 .4 .5 .1 1.0 .6 4.0 -3.3 .4 .4 .5 .2
Previously published.............. .5 .2 .4 .4 .2 1.0 .8 4.3 -3.4 .4 .5 .5 .2
Personal consumption expenditures... 1.4 -.2 .9 .1 .5 .9 .5 .7 .2 .7 .5 .8 .0
Previously published.............. 1.0 -.3 1.2 .1 .6 .7 .4 .9 .0 .6 .8 .6 .0
--------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Real disposable personal income..... .1 -.1 .5 .4 .0 .5 .3 4.0 -3.5 .2 .0 .1 .1
Previously published.............. .2 .0 .4 .3 .1 .5 .6 4.4 -3.5 .3 .0 .1 .1
Real personal consumption
expenditures....................... .9 -.4 .9 .0 .4 .4 .2 .7 .0 .4 .1 .4 -.1
Previously published.............. .6 -.6 1.2 .0 .5 .2 .2 .9 -.2 .4 .4 .2 .0
--------------------------------------------------------------------------------------------------------------------------------------------
Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
(Years and Quarters)
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 IV 01 I 02 II 02 III 02 IV 02
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 294.4 157.8 287.2 544.2 21.7 59.9 77.3 3.4 30.1
Previously published............ 294.4 154.8 282.9 527.8 21.7 48.8 93.5 -1.4 23.5
Disposable personal income........ 292.8 343.3 339.1 495.0 -98.0 226.7 90.2 3.7 36.3
Previously published............ 292.8 340.9 332.2 487.0 -98.0 213.0 107.2 4.0 29.8
Personal consumption expenditures. 315.6 295.7 359.2 504.4 129.9 41.9 92.7 73.6 56.5
Previously published............ 315.6 321.1 384.8 469.0 129.9 48.5 102.4 88.7 72.0
Personal saving as a percentage
of disposable personal income...... 1.8 2.4 2.1 1.8 .5 2.9 2.8 2.0 1.8
Previously published.............. 1.8 2.0 1.4 1.3 .5 2.7 2.7 1.6 1.2
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 3.5 1.8 3.2 5.9 1.0 2.8 3.6 .2 1.4
Previously published.............. 3.5 1.8 3.2 5.8 1.0 2.2 4.3 -.1 1.1
Disposable personal income.......... 4.1 4.6 4.3 6.1 -5.0 12.6 4.7 .2 1.9
Previously published.............. 4.1 4.6 4.2 6.0 -5.0 11.8 5.7 .2 1.5
Personal consumption expenditures... 4.7 4.2 4.9 6.5 7.6 2.4 5.2 4.1 3.1
Previously published.............. 4.7 4.6 5.2 6.0 7.6 2.7 5.8 4.9 3.9
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 1.9 3.1 2.4 3.4 -5.6 11.6 1.9 -1.6 .2
Previously published.............. 1.9 3.1 2.3 3.7 -5.6 10.8 2.7 -1.7 .2
Real personal consumption
expenditures....................... 2.5 2.7 2.9 3.9 7.0 1.4 2.4 2.3 1.4
Previously published.............. 2.5 3.1 3.3 3.8 7.0 1.8 2.8 2.9 2.5
------------------------------------------------------------------------------------------------------------
Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
(Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 88.2 104.9 96.8 113.3 156.1 129.5 114.9 295.6 64.4
Previously published............ 83.0 103.5 103.6 120.7 115.0 147.7 107.7 319.7 86.3
Disposable personal income........ 107.7 102.3 182.9 46.4 154.3 105.0 90.6 259.5 -15.3
Previously published............ 97.7 98.5 192.6 52.9 117.9 123.7 89.4 284.3 9.8
Personal consumption expenditures. 102.1 80.1 147.1 84.2 165.7 113.3 117.6 152.9 119.7
Previously published............ 109.8 86.5 126.2 92.4 145.3 93.6 128.7 140.8 115.2
Personal saving as a percentage
of disposable personal income...... 1.9 2.1 2.5 2.0 1.8 1.6 1.2 2.3 .7
Previously published.............. 1.0 1.1 1.9 1.3 1.0 1.3 .7 2.2 .9
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 4.0 4.7 4.3 5.0 6.9 5.6 4.9 12.7 2.6
Previously published.............. 3.8 4.7 4.6 5.3 5.0 6.4 4.6 13.9 3.5
Disposable personal income.......... 5.6 5.2 9.4 2.3 7.6 5.1 4.3 12.5 -.7
Previously published.............. 5.1 5.0 9.9 2.6 5.8 6.0 4.2 13.8 .4
Personal consumption expenditures... 5.6 4.3 7.9 4.4 8.7 5.8 5.9 7.6 5.8
Previously published.............. 6.0 4.6 6.7 4.8 7.5 4.7 6.5 7.0 5.6
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 2.5 4.5 7.2 1.0 3.6 1.2 2.8 9.1 -2.9
Previously published.............. 1.8 4.3 8.2 1.4 2.4 2.8 2.9 10.8 -1.4
Real personal consumption
expenditures....................... 2.5 3.6 5.8 3.1 4.7 1.9 4.4 4.3 3.5
Previously published.............. 2.7 3.9 5.0 3.6 4.1 1.6 5.1 4.2 3.6
------------------------------------------------------------------------------------------------------------
Table 12.--Revisions to Personal Income and Its Disposition
-------------------------------------------------------------------------------------------------------------------------------------
Billions of dollars
------------------------ ------------------------ Revisions as a
Revised Revisions to percentage of
estimates previously previously
published published
------------------------ ------------------------ ------------------------
2002 2003 2004 2002 2003 2004 2002 2003 2004
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,881.9 9,169.1 9,713.3 3.0 7.3 23.7 .0 .1 .2
Compensation of employees, received...... 6,091.2 6,321.1 6,687.6 21.7 32.1 36.6 .4 .5 .6
Wage and salary disbursements.......... 4,980.9 5,111.1 5,389.4 4.6 7.5 15.9 .1 .1 .3
Private industries................... 4,115.0 4,207.8 4,450.0 1.3 2.2 2.1 .0 .1 .0
Goods-producing industries......... 1,010.7 1,007.2 1,049.9 .5 -.5 2.8 .0 .0 .3
Manufacturing.................... 675.5 668.7 687.7 .3 -.1 -.9 .0 .0 -.1
Services-producing industries...... 3,104.2 3,200.6 3,400.1 .7 2.6 -.7 .0 .1 .0
Trade, transportation, and
utilities....................... 843.1 858.6 899.7 -.5 .0 4.3 -.1 .0 .5
Other services-producing
industries...................... 2,261.1 2,342.0 2,500.4 1.2 2.6 -5.0 .1 .1 -.2
Government........................... 865.9 903.3 939.5 3.3 5.4 13.9 .4 .6 1.5
Supplements to wages and salaries...... 1,110.3 1,210.0 1,298.1 17.1 24.5 20.6 1.6 2.1 1.6
Employer contributions for employee
pension and insurance funds......... 745.1 830.0 895.5 15.5 21.1 18.9 2.1 2.6 2.2
Employer contributions for government
social insurance.................... 365.2 380.0 402.7 1.6 3.4 1.8 .4 .9 .4
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 768.4 810.2 889.6 -1.2 -23.9 -13.2 -.2 -2.9 -1.5
Farm................................... 10.6 27.7 35.8 .9 5.9 17.6 9.3 27.1 96.7
Nonfarm................................ 757.8 782.4 853.8 -2.1 -29.9 -30.8 -.3 -3.7 -3.5
Rental income of persons with capital
consumption adjustment.................. 152.9 131.7 134.2 -18.0 -22.1 -30.9 -10.5 -14.4 -18.7
Personal income receipts on assets....... 1,333.2 1,338.7 1,396.5 -1.4 16.0 9.2 -.1 1.2 .7
Personal interest income............... 936.1 917.6 905.9 -10.6 -12.3 -40.3 -1.1 -1.3 -4.3
Personal dividend income............... 397.2 421.1 490.6 9.3 28.3 49.5 2.4 7.2 11.2
Personal current transfer receipts....... 1,286.2 1,344.0 1,427.5 3.5 8.6 21.6 .3 .6 1.5
Government social benefits to persons.. 1,248.9 1,313.5 1,394.5 .0 7.1 21.3 .0 .5 1.6
Old-age, survivors, disability, and
health insurance benefits........... 707.5 739.3 789.3 -.8 5.5 10.1 -.1 .7 1.3
Government unemployment insurance
benefits............................ 53.2 52.8 36.0 .0 .0 1.4 .0 .0 4.0
Other................................ 488.2 521.4 569.2 .7 1.6 9.7 .1 .3 1.7
Other current transfer receipts, from
business (net)........................ 37.3 30.5 33.0 3.6 1.6 .3 10.7 5.5 .9
Less: Contributions for government social
insurance............................... 750.0 776.6 822.2 1.7 3.4 -.4 .2 .4 .0
Less: Personal current taxes............... 1,051.8 999.9 1,049.1 .6 -2.0 6.5 .1 -.2 .6
Equals: Disposable personal income......... 7,830.1 8,169.2 8,664.2 2.4 9.3 17.3 .0 .1 .2
Less: Personal outlays..................... 7,645.3 7,996.3 8,512.5 -23.2 -53.0 -19.4 -.3 -.7 -.2
Personal consumption expenditures........ 7,350.7 7,709.9 8,214.3 -25.4 -51.0 -15.6 -.3 -.7 -.2
Durable goods.......................... 923.9 950.1 987.8 7.7 -.6 -6.1 .8 -.1 -.6
Nondurable goods....................... 2,079.6 2,189.0 2,368.3 -.5 -11.1 -8.7 .0 -.5 -.4
Services............................... 4,347.2 4,570.8 4,858.2 -32.6 -39.3 -.8 -.7 -.9 .0
Personal interest payments\1\............ 196.4 183.2 186.7 -.8 -2.1 -1.8 -.4 -1.1 -1.0
Personal current transfer payments....... 98.2 103.3 111.5 2.9 .2 -2.0 3.0 .2 -1.8
To government.......................... 58.2 62.1 68.6 -1.3 -2.8 -2.4 -2.2 -4.3 -3.4
To the rest of the world (net)......... 40.0 41.2 42.9 4.3 3.0 .4 12.0 7.9 .9
Equals: Personal saving.................... 184.7 172.8 151.8 25.5 62.2 36.8 16.0 56.2 32.0
Personal saving as a percentage of
disposable personal income.............. 2.4 2.1 1.8 .4 .7 .5 20.0 50.0 38.5
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,562.2 7,741.8 8,004.3 2.7 8.0 -15.0 .0 .1 -.2
Per capita:
Current dollars...................... 27,165 28,065 29,475 6 31 59 0 1 2
Chained (2000) dollars............... 26,236 26,596 27,230 7 26 -51 0 1 -2
Population (midperiod, thousands)\3\..... 288.2 291.1 294.0 .0 .0 .0 .0 .0 .0
-------------------------------------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for
personal consumption expenditures.
3. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population.
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)
------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 17.9 20.3 24.3 26.0 38.8 10.3 18.3 -12.8 -2.1 6.1 11.5 10.5 24.5 31.0 35.2
Previously published............ 17.9 6.7 26.0 30.0 47.2 14.9 23.1 -21.3 -3.0 4.6 8.6 9.7 18.9 29.3 36.3
Disposable personal income........ 21.2 174.2 32.8 32.3 43.3 13.0 17.1 -12.3 -2.8 6.6 15.3 12.9 26.6 49.0 34.4
Previously published............ 21.2 159.2 33.7 34.5 53.0 18.3 23.2 -17.8 -2.5 5.7 12.6 11.5 19.7 45.3 33.6
Personal consumption expenditures. -11.3 30.6 45.5 10.3 77.9 -34.0 46.4 53.8 14.6 -28.7 32.0 29.3 57.7 22.1 16.5
Previously published............ -11.3 34.9 48.8 10.6 86.7 -39.0 55.2 74.3 3.2 -34.5 30.4 52.9 84.8 -1.8 28.3
Personal saving as a percentage
of disposable personal income...... 1.1 2.9 2.8 3.0 2.6 3.1 2.8 1.9 1.7 2.2 2.0 1.8 1.5 1.9 2.1
Previously published.............. 1.1 2.7 2.5 2.8 2.3 3.1 2.6 1.5 1.4 1.9 1.7 1.3 .5 1.0 1.1
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Personal income..................... .2 .2 .3 .3 .4 .1 .2 -.1 .0 .1 .1 .1 .3 .3 .4
Previously published.............. .2 .1 .3 .3 .5 .2 .3 -.2 .0 .1 .1 .1 .2 .3 .4
Disposable personal income.......... .3 2.3 .4 .4 .6 .2 .2 -.2 .0 .1 .2 .2 .3 .6 .4
Previously published.............. .3 2.1 .4 .4 .7 .2 .3 -.2 .0 .1 .2 .1 .2 .6 .4
Personal consumption expenditures... -.2 .4 .6 .1 1.1 -.5 .6 .7 .2 -.4 .4 .4 .8 .3 .2
Previously published.............. -.2 .5 .7 .1 1.2 -.5 .8 1.0 .0 -.5 .4 .7 1.1 .0 .4
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .4 2.1 .3 .1 .1 .2 .1 -.3 -.3 -.1 .1 .1 .3 .4 .0
Previously published.............. .4 2.0 .3 .1 .3 .2 .2 -.4 -.2 -.1 .2 .0 .0 .4 .1
Real personal consumption
expenditures....................... .0 .3 .5 -.2 .6 -.5 .5 .6 .0 -.6 .3 .3 .7 .1 -.2
Previously published.............. .0 .3 .5 -.2 .8 -.5 .6 .8 -.2 -.6 .5 .5 .9 -.2 .0
------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
----------------------------------------------------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04
----------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 41.7 14.7 56.6 38.9 24.8 26.0 29.5 28.0 67.7 35.4 61.1 52.0 42.8 41.1
Previously published............ 41.0 14.5 53.6 41.4 24.3 33.5 34.8 32.9 61.3 37.4 28.8 41.8 39.0 65.1
Disposable personal income........ 41.2 19.2 50.0 32.6 123.6 72.7 -82.8 24.8 61.3 35.2 67.7 45.7 36.7 30.4
Previously published............ 39.0 18.1 46.9 35.7 124.9 81.0 -77.0 27.4 55.7 38.1 36.3 38.2 36.3 50.1
Personal consumption expenditures. 62.3 3.6 15.7 57.3 35.7 105.3 -7.0 -.2 57.8 46.4 80.3 19.5 66.5 -6.5
Previously published............ 55.6 15.0 13.5 48.0 43.0 78.6 -17.2 17.2 66.1 49.2 45.8 52.0 30.2 10.6
Personal saving as a percentage
of disposable personal income...... 1.8 2.0 2.3 2.0 3.1 2.6 1.7 2.0 2.0 1.9 1.7 2.1 1.7 2.1
Previously published.............. .9 .9 1.3 1.2 2.2 2.2 1.4 1.5 1.3 1.2 1.1 .9 1.0 1.5
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal income..................... .5 .2 .6 .4 .3 .3 .3 .3 .7 .4 .7 .6 .5 .4
Previously published.............. .5 .2 .6 .5 .3 .4 .4 .4 .7 .4 .3 .4 .4 .7
Disposable personal income.......... .5 .2 .6 .4 1.5 .9 -1.0 .3 .7 .4 .8 .5 .4 .4
Previously published.............. .5 .2 .6 .4 1.5 1.0 -.9 .3 .7 .5 .4 .5 .4 .6
Personal consumption expenditures... .8 .0 .2 .8 .5 1.4 -.1 .0 .7 .6 1.0 .2 .8 -.1
Previously published.............. .7 .2 .2 .6 .6 1.0 -.2 .2 .8 .6 .6 .6 .4 .1
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .1 .5 .7 .3 1.3 .6 -1.3 .3 .8 .2 .3 .2 .1 .2
Previously published.............. .2 .4 .6 .3 1.4 .7 -1.1 .3 .7 .2 .0 .2 .1 .4
Real personal consumption
expenditures....................... .4 .3 .3 .7 .3 1.1 -.4 .0 .8 .4 .5 -.1 .5 -.3
Previously published.............. .4 .4 .2 .5 .5 .8 -.4 .2 .9 .4 .2 .4 .1 .0
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Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
--------------------------------------------------------------------------------------------------------------------------------------------
May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05
--------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
--------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 56.5 14.5 46.2 50.8 19.2 99.4 66.5 366.1 -246.2 46.5 40.0 67.8 23.2
Previously published............ 53.8 20.4 44.3 37.8 20.1 102.2 88.4 397.8 -256.8 48.8 47.8 65.4 23.5
Disposable personal income........ 46.6 11.5 36.6 42.1 8.1 88.1 52.5 351.2 -303.4 37.8 33.7 44.3 15.9
Previously published............ 45.8 18.4 34.5 33.2 15.8 85.1 74.5 383.8 -310.9 39.7 40.6 41.9 16.0
Personal consumption expenditures. 110.1 -13.1 70.6 6.0 44.9 75.9 38.8 57.8 15.5 58.5 41.0 71.4 -2.7
Previously published............ 81.5 -26.5 96.4 7.9 52.6 55.1 34.6 74.7 -2.9 50.7 68.9 55.4 .5
Personal saving as a percentage
of disposable personal income...... 1.3 1.5 1.1 1.5 1.0 1.1 1.3 4.4 .9 .6 .5 .2 .4
Previously published.............. 1.0 1.5 .7 1.0 .5 .8 1.2 4.5 1.1 1.0 .6 .5 .6
--------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Personal income..................... .6 .2 .5 .5 .2 1.0 .7 3.7 -2.4 .5 .4 .7 .2
Previously published.............. .6 .2 .5 .4 .2 1.1 .9 4.0 -2.5 .5 .5 .6 .2
Disposable personal income.......... .5 .1 .4 .5 .1 1.0 .6 4.0 -3.3 .4 .4 .5 .2
Previously published.............. .5 .2 .4 .4 .2 1.0 .8 4.3 -3.4 .4 .5 .5 .2
Personal consumption expenditures... 1.4 -.2 .9 .1 .5 .9 .5 .7 .2 .7 .5 .8 .0
Previously published.............. 1.0 -.3 1.2 .1 .6 .7 .4 .9 .0 .6 .8 .6 .0
--------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Real disposable personal income..... .1 -.1 .5 .4 .0 .5 .3 4.0 -3.5 .2 .0 .1 .1
Previously published.............. .2 .0 .4 .3 .1 .5 .6 4.4 -3.5 .3 .0 .1 .1
Real personal consumption
expenditures....................... .9 -.4 .9 .0 .4 .4 .2 .7 .0 .4 .1 .4 -.1
Previously published.............. .6 -.6 1.2 .0 .5 .2 .2 .9 -.2 .4 .4 .2 .0
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Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
(Years and Quarters)
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
2001 2002 2003 2004 IV 01 I 02 II 02 III 02 IV 02
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 294.4 157.8 287.2 544.2 21.7 59.9 77.3 3.4 30.1
Previously published............ 294.4 154.8 282.9 527.8 21.7 48.8 93.5 -1.4 23.5
Disposable personal income........ 292.8 343.3 339.1 495.0 -98.0 226.7 90.2 3.7 36.3
Previously published............ 292.8 340.9 332.2 487.0 -98.0 213.0 107.2 4.0 29.8
Personal consumption expenditures. 315.6 295.7 359.2 504.4 129.9 41.9 92.7 73.6 56.5
Previously published............ 315.6 321.1 384.8 469.0 129.9 48.5 102.4 88.7 72.0
Personal saving as a percentage
of disposable personal income...... 1.8 2.4 2.1 1.8 .5 2.9 2.8 2.0 1.8
Previously published.............. 1.8 2.0 1.4 1.3 .5 2.7 2.7 1.6 1.2
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 3.5 1.8 3.2 5.9 1.0 2.8 3.6 .2 1.4
Previously published.............. 3.5 1.8 3.2 5.8 1.0 2.2 4.3 -.1 1.1
Disposable personal income.......... 4.1 4.6 4.3 6.1 -5.0 12.6 4.7 .2 1.9
Previously published.............. 4.1 4.6 4.2 6.0 -5.0 11.8 5.7 .2 1.5
Personal consumption expenditures... 4.7 4.2 4.9 6.5 7.6 2.4 5.2 4.1 3.1
Previously published.............. 4.7 4.6 5.2 6.0 7.6 2.7 5.8 4.9 3.9
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 1.9 3.1 2.4 3.4 -5.6 11.6 1.9 -1.6 .2
Previously published.............. 1.9 3.1 2.3 3.7 -5.6 10.8 2.7 -1.7 .2
Real personal consumption
expenditures....................... 2.5 2.7 2.9 3.9 7.0 1.4 2.4 2.3 1.4
Previously published.............. 2.5 3.1 3.3 3.8 7.0 1.8 2.8 2.9 2.5
------------------------------------------------------------------------------------------------------------
Table 14.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates
(Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------
I 03 II 03 III 03 IV 03 I 04 II 04 III 04 IV 04 I 05
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 88.2 104.9 96.8 113.3 156.1 129.5 114.9 295.6 64.4
Previously published............ 83.0 103.5 103.6 120.7 115.0 147.7 107.7 319.7 86.3
Disposable personal income........ 107.7 102.3 182.9 46.4 154.3 105.0 90.6 259.5 -15.3
Previously published............ 97.7 98.5 192.6 52.9 117.9 123.7 89.4 284.3 9.8
Personal consumption expenditures. 102.1 80.1 147.1 84.2 165.7 113.3 117.6 152.9 119.7
Previously published............ 109.8 86.5 126.2 92.4 145.3 93.6 128.7 140.8 115.2
Personal saving as a percentage
of disposable personal income...... 1.9 2.1 2.5 2.0 1.8 1.6 1.2 2.3 .7
Previously published.............. 1.0 1.1 1.9 1.3 1.0 1.3 .7 2.2 .9
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 4.0 4.7 4.3 5.0 6.9 5.6 4.9 12.7 2.6
Previously published.............. 3.8 4.7 4.6 5.3 5.0 6.4 4.6 13.9 3.5
Disposable personal income.......... 5.6 5.2 9.4 2.3 7.6 5.1 4.3 12.5 -.7
Previously published.............. 5.1 5.0 9.9 2.6 5.8 6.0 4.2 13.8 .4
Personal consumption expenditures... 5.6 4.3 7.9 4.4 8.7 5.8 5.9 7.6 5.8
Previously published.............. 6.0 4.6 6.7 4.8 7.5 4.7 6.5 7.0 5.6
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 2.5 4.5 7.2 1.0 3.6 1.2 2.8 9.1 -2.9
Previously published.............. 1.8 4.3 8.2 1.4 2.4 2.8 2.9 10.8 -1.4
Real personal consumption
expenditures....................... 2.5 3.6 5.8 3.1 4.7 1.9 4.4 4.3 3.5
Previously published.............. 2.7 3.9 5.0 3.6 4.1 1.6 5.1 4.2 3.6
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