News Release
Personal Income and Outlays, August 2006
Available for this release: Full Release (PDF - ) | Tables (XLS - ), Highlights (PDF - )
Sign up for e-mail subscriptions.
James E. Rankin: (202) 606-5301 (Personal Income)BEA 06-45
Michael Armah: (202) 606-5302 (Personal Outlays)
PERSONAL INCOME AND OUTLAYS: AUGUST 2006
Personal income increased $38.4 billion, or 0.3 percent, and disposable personal income (DPI)
increased $38.8 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $10.5 billion, or 0.1 percent. In July, personal
income increased $57.2 billion, or 0.5 percent, DPI increased $62.0 billion, or 0.6 percent, and PCE
increased $75.9 billion, or 0.8 percent, based on revised estimates.
2006
Apr. May June July Aug.
(Percent change from preceding month)
Personal income, current dollars 0.7 0.4 0.6 0.5 0.3
Disposable personal income:
Current dollars 0.5 0.4 0.5 0.6 0.4
Chained (2000) dollars 0.1 0.0 0.4 0.3 0.2
Personal consumption expenditures:
Current dollars 0.6 0.7 0.3 0.8 0.1
Chained (2000) dollars 0.1 0.3 0.2 0.5 -0.1
Wages and salaries
Private wage and salary disbursements increased $2.5 billion in August, compared with an
increase of $30.3 billion in July. Goods-producing industries' payrolls increased $1.6 billion,
compared with an increase of $3.1 billion; manufacturing payrolls decreased $0.5 billion, in contrast
to an increase of $1.5 billion. Services-producing industries' payrolls increased $0.8 billion,
compared with an increase of $27.3 billion. Government wage and salary disbursements increased
$3.0 billion, compared with an increase of $3.5 billion.
Other personal income
Supplements to wages and salaries increased $4.6 billion in August, compared with an increase
of $8.0 billion in July.
Proprietors' income increased $5.1 billion in August, in contrast to a decrease of $3.7 billion in
July. Farm proprietors' income increased $3.6 billion, compared with an increase of $1.5 billion.
Nonfarm proprietors' income increased $1.6 billion, in contrast to a decrease of $5.3 billion.
Rental income of persons increased $3.1 billion in August, compared with an increase of $3.4
billion in July. Personal income receipts on assets (personal interest income plus personal dividend
income) increased $4.6 billion, compared with an increase of $4.2 billion. Personal current transfer
receipts increased $16.1 billion in August, compared with an increase of $16.9 billion in July.
Contributions for government social insurance -- a subtraction in calculating personal income --
increased $0.6 billion in August, compared with an increase of $5.1 billion in July.
Personal current taxes and disposable personal income
Personal current taxes decreased $0.6 billion in August, compared with a decrease of $4.7
billion in July. Disposable personal income (DPI) -- personal income less personal current taxes --
increased $38.8 billion, or 0.4 percent, in August, compared with an increase of $62.0 billion, or 0.6
percent, in July.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $13.7 billion in August, compared with an increase of $78.3 billion in July. PCE
increased $10.5 billion, compared with an increase of $75.9 billion.
Personal saving -- DPI less personal outlays -- was a negative $45.0 billion in August,
compared with a negative $70.1 billion in July. Personal saving as a percentage of disposable
personal income was a negative 0.5 percent in August, compared with a negative 0.7 percent in July.
Negative personal saving reflects personal outlays that exceed disposable personal income. 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. For more information, see the FAQs on
"Personal Saving" on BEA's Web site. For a comparison of personal saving in BEA's national
income and product accounts with personal saving in the Federal Reserve Board's flow of funds
accounts and data on changes in net worth (which help finance consumption), go to
/bea/dn/nipaweb/Nipa-Frb.asp.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.2 percent in August,
compared with an increase of 0.3 percent in July.
Real PCE -- PCE adjusted to remove price changes -- decreased 0.1 percent in August, in
contrast to an increase of 0.5 percent in July. Purchases of durable goods decreased 1.3 percent, in
contrast to an increase of 1.8 percent. Purchases of motor vehicles and parts more than accounted
for the decrease in August and accounted for most of the increase in July. Purchases of nondurable
goods decreased 0.2 percent in August, in contrast to an increase of 0.3 percent in July. Purchases of
services increased 0.1 percent, compared with an increase of 0.3 percent.
PCE price index -- The PCE price index increased 0.2 percent in August, compared with an
increase of 0.3 percent in July. The PCE price index, excluding food and energy, increased 0.2
percent, compared with an increase of 0.1 percent.
Revisions
Estimates have been revised for April through July. Changes in personal income, current-
dollar and chained (2000) dollar DPI, and current-dollar and chained (2000) dollar PCE for June and
July -- revised and as published in last month's release -- are shown below. Revisions for April and
May were small.
Change from preceding month
June July
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars...................... 60.0 62.1 0.6 0.6 60.2 57.2 0.5 0.5
Disposable personal income:
Current dollars...................... 47.8 49.8 0.5 0.5 63.9 62.0 0.7 0.6
Chained (2000) dollars......... 29.6 31.4 0.4 0.4 27.8 26.0 0.3 0.3
Personal consumption expenditures:
Current dollars...................... 36.6 31.9 0.4 0.3 78.7 75.9 0.8 0.8
Chained (2000) dollars......... 20.3 16.3 0.3 0.2 41.5 38.9 0.5 0.5
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.
* * *
Next release -- Personal Income and Outlays for September will be released on
October 30, 2006, at 8:30 A.M. EST.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
Jan 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 10,664.9 10,721.9 10,777.4 10,852.4 10,894.2 10,956.3 11,013.5 11,051.9
Compensation of employees, received...... 7,342.5 7,407.2 7,451.3 7,513.2 7,520.5 7,565.9 7,607.6 7,617.6
Wage and salary disbursements.......... 5,919.8 5,976.6 6,013.8 6,066.5 6,069.4 6,107.8 6,141.6 6,147.0
Private industries................... 4,924.5 4,977.9 5,013.4 5,063.3 5,064.0 5,098.6 5,128.9 5,131.4
Goods-producing industries......... 1,164.0 1,179.5 1,188.4 1,197.0 1,199.6 1,207.3 1,210.4 1,212.0
Manufacturing.................... 734.7 744.3 749.6 754.7 754.5 757.5 759.0 758.5
Services-producing industries...... 3,760.5 3,798.4 3,825.0 3,866.3 3,864.4 3,891.3 3,918.6 3,919.4
Trade, transportation, and
utilities....................... 975.3 984.8 990.8 1,001.0 998.7 1,005.8 1,012.3 1,012.4
Other services-producing
industries...................... 2,785.3 2,813.7 2,834.2 2,865.3 2,865.7 2,885.5 2,906.3 2,907.0
Government........................... 995.3 998.7 1,000.4 1,003.2 1,005.4 1,009.2 1,012.7 1,015.7
Supplements to wages and salaries...... 1,422.7 1,430.7 1,437.4 1,446.8 1,451.1 1,458.0 1,466.0 1,470.6
Employer contributions for employee
pension and insurance funds......... 967.4 971.6 975.7 981.4 985.6 990.1 995.6 1,000.1
Employer contributions for government
social insurance.................... 455.3 459.1 461.7 465.4 465.5 468.0 470.4 470.4
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 1,006.6 1,005.7 1,012.5 1,010.1 1,014.8 1,010.7 1,007.0 1,012.1
Farm................................... 24.6 23.9 23.2 20.5 17.5 14.6 16.1 19.7
Nonfarm................................ 982.0 981.8 989.3 989.6 997.3 996.1 990.8 992.4
Rental income of persons with capital
consumption adjustment.................. 78.0 75.9 76.4 74.2 71.8 68.2 71.6 74.7
Personal income receipts on assets....... 1,600.8 1,602.1 1,603.9 1,625.4 1,647.3 1,670.2 1,674.4 1,679.0
Personal interest income............... 992.0 989.1 986.2 1,002.7 1,019.2 1,035.6 1,033.4 1,031.3
Personal dividend income............... 608.8 613.0 617.8 622.7 628.2 634.6 641.0 647.7
Personal current transfer receipts....... 1,566.3 1,568.7 1,576.3 1,580.2 1,591.1 1,597.8 1,614.7 1,630.8
Government social benefits to persons.. 1,531.9 1,534.3 1,541.7 1,545.4 1,556.1 1,562.6 1,579.3 1,595.3
Old-age, survivors, disability, and
health insurance benefits........... 901.4 910.3 917.9 920.8 927.9 935.8 931.4 939.0
Government unemployment insurance
benefits............................ 28.6 27.4 27.4 27.0 27.0 27.0 27.3 27.3
Other................................ 601.9 596.6 596.4 597.6 601.2 599.9 620.6 629.0
Other current transfer receipts, from
business (net)........................ 34.4 34.5 34.6 34.8 35.0 35.2 35.4 35.5
Less: Contributions for government social
insurance............................... 929.3 937.8 943.0 950.7 951.4 956.5 961.6 962.2
Less: Personal current taxes............... 1,317.8 1,333.9 1,346.2 1,370.2 1,376.6 1,388.9 1,384.2 1,383.6
Equals: Disposable personal income......... 9,347.1 9,388.1 9,431.3 9,482.2 9,517.6 9,567.4 9,629.4 9,668.2
Less: Personal outlays..................... 9,371.3 9,418.6 9,465.7 9,522.3 9,587.5 9,621.2 9,699.5 9,713.2
Personal consumption expenditures........ 9,034.4 9,079.2 9,123.8 9,175.2 9,238.6 9,270.5 9,346.4 9,356.9
Durable goods.......................... 1,069.8 1,055.7 1,066.9 1,064.1 1,057.9 1,063.5 1,082.8 1,068.7
Nondurable goods....................... 2,655.7 2,654.5 2,664.5 2,703.9 2,728.3 2,732.0 2,756.3 2,761.1
Services............................... 5,308.9 5,369.0 5,392.5 5,407.2 5,452.4 5,475.0 5,507.4 5,527.1
Personal interest payments\1\............ 216.6 218.5 220.4 221.6 222.9 224.2 226.0 227.8
Personal current transfer payments....... 120.4 120.9 121.4 125.5 126.0 126.5 127.1 128.5
To government.......................... 75.2 75.7 76.3 76.8 77.3 77.9 78.4 79.9
To the rest of the world (net)......... 45.2 45.2 45.2 48.7 48.7 48.7 48.7 48.7
Equals: Personal saving.................... -24.2 -30.6 -34.4 -40.1 -69.8 -53.8 -70.1 -45.0
Personal saving as a percentage of
disposable personal income.............. -.3 -.3 -.4 -.4 -.7 -.6 -.7 -.5
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 8,253.6 8,283.8 8,292.9 8,299.9 8,302.2 8,333.6 8,359.6 8,373.1
Per capita:
Current dollars...................... 31,351 31,468 31,591 31,739 31,834 31,975 32,156 32,258
Chained (2000) dollars............... 27,683 27,767 27,778 27,782 27,768 27,852 27,916 27,937
Population (midperiod, thousands)\3\..... 298,144 298,337 298,539 298,753 298,979 299,213 299,459 299,719
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
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]
-----------------------------------------------------------------------------------------------------------------------------------
2004 2005 I 05 II 05 III 05 IV 05 I 06 II 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,731.4 10,239.2 10,048.8 10,161.5 10,262.7 10,483.7 10,721.4 10,901.0
Compensation of employees, received...... 6,665.3 7,030.3 6,889.6 6,953.7 7,093.6 7,184.4 7,400.3 7,533.2
Wage and salary disbursements.......... 5,392.1 5,664.8 5,555.7 5,601.3 5,715.2 5,787.0 5,970.1 6,081.2
Private industries................... 4,450.3 4,687.1 4,587.3 4,627.6 4,734.6 4,798.9 4,972.0 5,075.3
Goods-producing industries......... 1,050.8 1,101.3 1,078.9 1,087.5 1,113.9 1,124.9 1,177.3 1,201.3
Manufacturing.................... 688.0 704.7 696.9 697.3 709.7 715.0 742.8 755.6
Services-producing industries...... 3,399.5 3,585.8 3,508.4 3,540.0 3,620.7 3,673.9 3,794.7 3,874.0
Trade, transportation, and
utilities....................... 899.2 937.2 918.2 930.4 945.5 954.9 983.6 1,001.8
Other services-producing
industries...................... 2,500.3 2,648.5 2,590.3 2,609.7 2,675.2 2,719.0 2,811.0 2,872.2
Government........................... 941.8 977.7 968.4 973.7 980.6 988.1 998.1 1,005.9
Supplements to wages and salaries...... 1,273.2 1,365.5 1,333.9 1,352.4 1,378.4 1,397.4 1,430.3 1,452.0
Employer contributions for employee
pension and insurance funds......... 866.1 933.2 909.8 924.7 942.1 956.1 971.6 985.7
Employer contributions for government
social insurance.................... 407.1 432.3 424.1 427.7 436.3 441.3 458.7 466.3
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 911.1 970.7 952.8 965.8 967.3 996.8 1,008.3 1,011.9
Farm................................... 36.2 30.2 33.9 28.7 29.7 28.7 23.9 17.5
Nonfarm................................ 874.9 940.4 918.9 937.1 937.7 968.1 984.4 994.3
Rental income of persons with capital
consumption adjustment.................. 127.0 72.8 118.5 102.8 -11.5 81.5 76.8 71.4
Personal income receipts on assets....... 1,427.9 1,519.4 1,464.3 1,500.5 1,532.7 1,580.2 1,602.3 1,647.7
Personal interest income............... 890.8 945.0 912.3 934.8 951.2 981.7 989.1 1,019.2
Personal dividend income............... 537.1 574.4 552.0 565.7 581.5 598.5 613.2 628.5
Personal current transfer receipts....... 1,426.5 1,526.6 1,487.3 1,510.1 1,569.0 1,539.8 1,570.4 1,589.7
Government social benefits to persons.. 1,398.4 1,480.9 1,456.3 1,477.2 1,489.2 1,500.8 1,536.0 1,554.7
Old-age, survivors, disability, and
health insurance benefits........... 791.4 844.9 832.2 844.4 848.5 854.6 909.9 928.1
Government unemployment insurance
benefits............................ 36.0 31.3 32.8 30.7 30.2 31.6 27.8 27.0
Other................................ 571.0 604.6 591.3 602.1 610.4 614.5 598.3 599.6
Other current transfer receipts, from
business (net)........................ 28.1 45.7 31.0 33.0 79.8 39.0 34.5 35.0
Less: Contributions for government social
insurance............................... 826.4 880.6 863.6 871.5 888.5 898.9 936.7 952.9
Less: Personal current taxes............... 1,049.8 1,203.1 1,157.9 1,191.8 1,215.0 1,247.6 1,332.6 1,378.6
Equals: Disposable personal income......... 8,681.6 9,036.1 8,890.9 8,969.7 9,047.7 9,236.1 9,388.8 9,522.4
Less: Personal outlays..................... 8,507.2 9,070.9 8,838.5 9,000.4 9,180.3 9,264.5 9,418.5 9,577.0
Personal consumption expenditures........ 8,211.5 8,742.4 8,519.7 8,674.6 8,847.3 8,927.8 9,079.2 9,228.1
Durable goods.......................... 986.3 1,033.1 1,013.1 1,042.3 1,057.3 1,019.6 1,064.1 1,061.8
Nondurable goods....................... 2,345.2 2,539.3 2,450.2 2,508.6 2,584.9 2,613.5 2,658.2 2,721.4
Services............................... 4,880.1 5,170.0 5,056.4 5,123.7 5,205.1 5,294.7 5,356.8 5,444.9
Personal interest payments\1\............ 186.0 209.4 199.8 208.5 214.6 214.9 218.5 222.9
Personal current transfer payments....... 109.7 119.2 119.0 117.3 118.5 121.8 120.9 126.0
To government.......................... 66.8 72.0 69.9 71.3 72.7 74.2 75.7 77.3
To the rest of the world (net)......... 42.9 47.1 49.0 46.0 45.8 47.6 45.2 48.7
Equals: Personal saving.................... 174.3 -34.8 52.5 -30.8 -132.6 -28.5 -29.7 -54.6
Personal saving as a percentage of
disposable personal income.............. 2.0 -.4 .6 -.3 -1.5 -.3 -.3 -.6
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 8,010.8 8,104.6 8,076.6 8,085.8 8,074.1 8,183.3 8,276.8 8,311.9
Per capita:
Current dollars...................... 29,536 30,458 30,073 30,273 30,461 31,020 31,470 31,849
Chained (2000) dollars............... 27,254 27,318 27,319 27,290 27,183 27,484 27,743 27,801
Population (midperiod, thousands)\3\..... 293,933 296,677 295,643 296,289 297,027 297,748 298,340 298,982
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
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 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 138.8 57.0 55.5 75.0 41.8 62.1 57.2 38.4
Compensation of employees, received...... 131.9 64.7 44.1 61.9 7.3 45.4 41.7 10.0
Wage and salary disbursements.......... 112.6 56.8 37.2 52.7 2.9 38.4 33.8 5.4
Private industries................... 107.9 53.4 35.5 49.9 .7 34.6 30.3 2.5
Goods-producing industries......... 37.0 15.5 8.9 8.6 2.6 7.7 3.1 1.6
Manufacturing.................... 20.8 9.6 5.3 5.1 -.2 3.0 1.5 -.5
Services-producing industries...... 70.9 37.9 26.6 41.3 -1.9 26.9 27.3 .8
Trade, transportation, and
utilities....................... 16.6 9.5 6.0 10.2 -2.3 7.1 6.5 .1
Other services-producing
industries...................... 54.4 28.4 20.5 31.1 .4 19.8 20.8 .7
Government........................... 4.7 3.4 1.7 2.8 2.2 3.8 3.5 3.0
Supplements to wages and salaries...... 19.3 8.0 6.7 9.4 4.3 6.9 8.0 4.6
Employer contributions for employee
pension and insurance funds......... 6.5 4.2 4.1 5.7 4.2 4.5 5.5 4.5
Employer contributions for government
social insurance.................... 12.8 3.8 2.6 3.7 .1 2.5 2.4 .0
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 5.2 -.9 6.8 -2.4 4.7 -4.1 -3.7 5.1
Farm................................... -3.5 -.7 -.7 -2.7 -3.0 -2.9 1.5 3.6
Nonfarm................................ 8.8 -.2 7.5 .3 7.7 -1.2 -5.3 1.6
Rental income of persons with capital
consumption adjustment.................. -2.5 -2.1 .5 -2.2 -2.4 -3.6 3.4 3.1
Personal income receipts on assets....... 1.7 1.3 1.8 21.5 21.9 22.9 4.2 4.6
Personal interest income............... -2.9 -2.9 -2.9 16.5 16.5 16.4 -2.2 -2.1
Personal dividend income............... 4.6 4.2 4.8 4.9 5.5 6.4 6.4 6.7
Personal current transfer receipts....... 30.3 2.4 7.6 3.9 10.9 6.7 16.9 16.1
Government social benefits to persons.. 31.4 2.4 7.4 3.7 10.7 6.5 16.7 16.0
Old-age, survivors, disability, and
health insurance benefits........... 41.3 8.9 7.6 2.9 7.1 7.9 -4.4 7.6
Government unemployment insurance
benefits............................ -1.5 -1.2 .0 -.4 .0 .0 .3 .0
Other................................ -8.4 -5.3 -.2 1.2 3.6 -1.3 20.7 8.4
Other current transfer receipts, from
business (net)........................ -1.1 .1 .1 .2 .2 .2 .2 .1
Less: Contributions for government social
insurance............................... 27.8 8.5 5.2 7.7 .7 5.1 5.1 .6
Less: Personal current taxes............... 56.3 16.1 12.3 24.0 6.4 12.3 -4.7 -.6
Equals: Disposable personal income......... 82.5 41.0 43.2 50.9 35.4 49.8 62.0 38.8
Less: Personal outlays..................... 78.8 47.3 47.1 56.6 65.2 33.7 78.3 13.7
Personal consumption expenditures........ 78.9 44.8 44.6 51.4 63.4 31.9 75.9 10.5
Durable goods.......................... 30.7 -14.1 11.2 -2.8 -6.2 5.6 19.3 -14.1
Nondurable goods....................... 61.6 -1.2 10.0 39.4 24.4 3.7 24.3 4.8
Services............................... -13.4 60.1 23.5 14.7 45.2 22.6 32.4 19.7
Personal interest payments\1\............ 1.9 1.9 1.9 1.2 1.3 1.3 1.8 1.8
Personal current transfer payments....... -1.9 .5 .5 4.1 .5 .5 .6 1.4
To government.......................... .5 .5 .6 .5 .5 .6 .5 1.5
To the rest of the world (net)......... -2.4 .0 .0 3.5 .0 .0 .0 .0
Equals: Personal saving.................... 3.6 -6.4 -3.8 -5.7 -29.7 16.0 -16.3 25.1
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 33.5 30.2 9.1 7.0 2.3 31.4 26.0 13.5
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
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]
-----------------------------------------------------------------------------------------------------------------------------------
2004 2005 I 05 II 05 III 05 IV 05 I 06 II 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 567.8 507.8 29.4 112.7 101.2 221.0 237.7 179.6
Compensation of employees, received...... 354.9 365.0 80.2 64.1 139.9 90.8 215.9 132.9
Wage and salary disbursements.......... 279.4 272.7 49.9 45.6 113.9 71.8 183.1 111.1
Private industries................... 242.0 236.8 33.5 40.3 107.0 64.3 173.1 103.3
Goods-producing industries......... 42.9 50.5 7.5 8.6 26.4 11.0 52.4 24.0
Manufacturing.................... 19.1 16.7 -1.2 .4 12.4 5.3 27.8 12.8
Services-producing industries...... 199.1 186.3 26.0 31.6 80.7 53.2 120.8 79.3
Trade, transportation, and
utilities....................... 40.9 38.0 1.9 12.2 15.1 9.4 28.7 18.2
Other services-producing
industries...................... 158.2 148.2 24.2 19.4 65.5 43.8 92.0 61.2
Government........................... 37.4 35.9 16.3 5.3 6.9 7.5 10.0 7.8
Supplements to wages and salaries...... 75.5 92.3 30.4 18.5 26.0 19.0 32.9 21.7
Employer contributions for employee
pension and insurance funds......... 50.5 67.1 21.5 14.9 17.4 14.0 15.5 14.1
Employer contributions for government
social insurance.................... 25.0 25.2 8.8 3.6 8.6 5.0 17.4 7.6
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 99.8 59.6 11.3 13.0 1.5 29.5 11.5 3.6
Farm................................... 7.0 -6.0 -.4 -5.2 1.0 -1.0 -4.8 -6.4
Nonfarm................................ 92.8 65.5 11.6 18.2 .6 30.4 16.3 9.9
Rental income of persons with capital
consumption adjustment.................. -6.0 -54.2 -4.9 -15.7 -114.3 93.0 -4.7 -5.4
Personal income receipts on assets....... 91.3 91.5 -75.5 36.2 32.2 47.5 22.1 45.4
Personal interest income............... -23.3 54.2 20.0 22.5 16.4 30.5 7.4 30.1
Personal dividend income............... 114.5 37.3 -95.5 13.7 15.8 17.0 14.7 15.3
Personal current transfer receipts....... 75.5 100.1 38.9 22.8 58.9 -29.2 30.6 19.3
Government social benefits to persons.. 81.7 82.5 32.8 20.9 12.0 11.6 35.2 18.7
Old-age, survivors, disability, and
health insurance benefits........... 50.1 53.5 23.8 12.2 4.1 6.1 55.3 18.2
Government unemployment insurance
benefits............................ -16.8 -4.7 .5 -2.1 -.5 1.4 -3.8 -.8
Other................................ 48.5 33.6 8.5 10.8 8.3 4.1 -16.2 1.3
Other current transfer receipts, from
business (net)........................ -6.2 17.6 6.2 2.0 46.8 -40.8 -4.5 .5
Less: Contributions for government social
insurance............................... 47.8 54.2 20.5 7.9 17.0 10.4 37.8 16.2
Less: Personal current taxes............... 48.7 153.3 69.7 33.9 23.2 32.6 85.0 46.0
Equals: Disposable personal income......... 519.1 354.5 -40.3 78.8 78.0 188.4 152.7 133.6
Less: Personal outlays..................... 519.5 563.7 116.2 161.9 179.9 84.2 154.0 158.5
Personal consumption expenditures........ 507.9 530.9 104.9 154.9 172.7 80.5 151.4 148.9
Durable goods.......................... 43.6 46.8 6.7 29.2 15.0 -37.7 44.5 -2.3
Nondurable goods....................... 155.0 194.1 37.5 58.4 76.3 28.6 44.7 63.2
Services............................... 309.3 289.9 60.7 67.3 81.4 89.6 62.1 88.1
Personal interest payments\1\............ 3.5 23.4 3.6 8.7 6.1 .3 3.6 4.4
Personal current transfer payments....... 8.2 9.5 7.8 -1.7 1.2 3.3 -.9 5.1
To government.......................... 5.5 5.2 1.0 1.4 1.4 1.5 1.5 1.6
To the rest of the world (net)......... 2.7 4.2 6.6 -3.0 -.2 1.8 -2.4 3.5
Equals: Personal saving.................... -.6 -209.1 -156.4 -83.3 -101.8 104.1 -1.2 -24.9
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 280.9 93.8 -82.2 9.2 -11.7 109.2 93.5 35.1
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
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 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------------------------------
Personal income............................ 1.3 .5 .5 .7 .4 .6 .5 .3
Compensation of employees, received...... 1.8 .9 .6 .8 .1 .6 .6 .1
Wage and salary disbursements.......... 1.9 1.0 .6 .9 .0 .6 .6 .1
Supplements to wages and salaries...... 1.4 .6 .5 .6 .3 .5 .5 .3
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .5 -.1 .7 -.2 .5 -.4 -.4 .5
Rental income of persons with capital
consumption adjustment.................. -3.1 -2.6 .7 -2.9 -3.2 -5.0 4.9 4.3
Personal income receipts on assets....... .1 .1 .1 1.3 1.3 1.4 .2 .3
Personal interest income............... -.3 -.3 -.3 1.7 1.6 1.6 -.2 -.2
Personal dividend income............... .8 .7 .8 .8 .9 1.0 1.0 1.1
Personal current transfer receipts....... 2.0 .2 .5 .2 .7 .4 1.1 1.0
Less: Contributions for government social
insurance............................... 3.1 .9 .6 .8 .1 .5 .5 .1
Less: Personal current taxes............... 4.5 1.2 .9 1.8 .5 .9 -.3 .0
Equals: Disposable personal income......... .9 .4 .5 .5 .4 .5 .6 .4
Addenda:
Personal consumption expenditures........ .9 .5 .5 .6 .7 .3 .8 .1
Durable goods.......................... 3.0 -1.3 1.1 -.3 -.6 .5 1.8 -1.3
Nondurable goods....................... 2.4 .0 .4 1.5 .9 .1 .9 .2
Services............................... -.3 1.1 .4 .3 .8 .4 .6 .4
----------------------------------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------------------------------
Real disposable personal income.......... .4 .4 .1 .1 .0 .4 .3 .2
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
2004 2005 I 05 II 05 III 05 IV 05 I 06 II 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------------------------------
Personal income............................ 6.2 5.2 1.2 4.6 4.0 8.9 9.4 6.9
Compensation of employees, received...... 5.6 5.5 4.8 3.8 8.3 5.2 12.6 7.4
Wage and salary disbursements.......... 5.5 5.1 3.7 3.3 8.4 5.1 13.3 7.7
Supplements to wages and salaries...... 6.3 7.3 9.6 5.7 7.9 5.6 9.7 6.2
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 12.3 6.5 4.8 5.6 .6 12.7 4.7 1.4
Rental income of persons with capital
consumption adjustment.................. -4.5 -42.7 -15.1 -43.3 ..... ..... -21.2 -25.2
Personal income receipts on assets....... 6.8 6.4 -18.2 10.3 8.9 13.0 5.7 11.8
Personal interest income............... -2.5 6.1 9.3 10.2 7.2 13.5 3.0 12.7
Personal dividend income............... 27.1 7.0 -47.2 10.4 11.7 12.2 10.2 10.4
Personal current transfer receipts....... 5.6 7.0 11.2 6.3 16.5 -7.3 8.2 5.0
Less: Contributions for government social
insurance............................... 6.1 6.6 10.1 3.7 8.0 4.8 17.9 7.1
Less: Personal current taxes............... 4.9 14.6 28.2 12.2 8.0 11.2 30.2 14.5
Equals: Disposable personal income......... 6.4 4.1 -1.8 3.6 3.5 8.6 6.8 5.8
Addenda:
Personal consumption expenditures........ 6.6 6.5 5.1 7.5 8.2 3.7 7.0 6.7
Durable goods.......................... 4.6 4.7 2.7 12.1 5.9 -13.5 18.6 -.9
Nondurable goods....................... 7.1 8.3 6.4 9.9 12.7 4.5 7.0 9.9
Services............................... 6.8 5.9 5.0 5.4 6.5 7.1 4.8 6.7
----------------------------------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------------------------------
Real disposable personal income.......... 3.6 1.2 -4.0 .5 -.6 5.5 4.6 1.7
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-----------------------------------------------------------------------------------------------------------------------------------
Jan 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,977.5 8,011.3 8,022.6 8,031.2 8,058.7 8,075.0 8,113.9 8,103.5
Durable goods............................ 1,195.2 1,181.0 1,195.2 1,191.7 1,184.9 1,194.2 1,215.2 1,198.8
Nondurable goods......................... 2,343.3 2,346.4 2,338.6 2,347.3 2,352.1 2,353.9 2,361.2 2,357.4
Services................................. 4,465.4 4,505.3 4,512.8 4,515.3 4,542.1 4,548.9 4,563.6 4,569.4
----------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... 31.7 33.8 11.3 8.6 27.5 16.3 38.9 -10.4
Durable goods............................ 33.4 -14.2 14.2 -3.5 -6.8 9.3 21.0 -16.4
Nondurable goods......................... 32.8 3.1 -7.8 8.7 4.8 1.8 7.3 -3.8
Services................................. -26.2 39.9 7.5 2.5 26.8 6.8 14.7 5.8
----------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... .4 .4 .1 .1 .3 .2 .5 -.1
Durable goods............................ 2.9 -1.2 1.2 -.3 -.6 .8 1.8 -1.3
Nondurable goods......................... 1.4 .1 -.3 .4 .2 .1 .3 -.2
Services................................. -.6 .9 .2 .1 .6 .1 .3 .1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
2004 2005 I 05 II 05 III 05 IV 05 I 06 II 06\r\
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (2000) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,577.1 7,841.2 7,739.4 7,819.8 7,895.3 7,910.2 8,003.8 8,055.0
Durable goods............................ 1,085.7 1,145.3 1,116.8 1,150.8 1,175.9 1,137.9 1,190.5 1,190.3
Nondurable goods......................... 2,179.2 2,276.8 2,241.5 2,268.4 2,287.6 2,309.6 2,342.8 2,351.1
Services................................. 4,323.9 4,436.6 4,395.3 4,420.0 4,454.5 4,476.7 4,494.5 4,535.4
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (2000) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... 281.8 264.1 52.3 80.4 75.5 14.9 93.6 51.2
Durable goods............................ 65.1 59.6 6.5 34.0 25.1 -38.0 52.6 -.2
Nondurable goods......................... 76.2 97.6 28.4 26.9 19.2 22.0 33.2 8.3
Services................................. 145.1 112.7 17.9 24.7 34.5 22.2 17.8 40.9
----------------------------------------------------------------------------------------
Percent change from preceding period
in chained (2000) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures.......... 3.9 3.5 2.7 4.2 3.9 .8 4.8 2.6
Durable goods............................ 6.4 5.5 2.4 12.8 9.0 -12.3 19.8 -.1
Nondurable goods......................... 3.6 4.5 5.2 4.9 3.4 3.9 5.9 1.4
Services................................. 3.5 2.6 1.6 2.3 3.2 2.0 1.6 3.7
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-----------------------------------------------------------------------------------------------------------------------------------
Jan 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 113.258 113.340 113.737 114.254 114.650 114.815 115.199 115.477
Durable goods............................ 89.501 89.389 89.264 89.289 89.279 89.049 89.100 89.144
Nondurable goods......................... 113.351 113.150 113.953 115.210 116.015 116.082 116.753 117.145
Services................................. 118.900 119.180 119.502 119.761 120.049 120.368 120.689 120.969
Addenda:
PCE excluding food and energy............ 110.758 110.928 111.264 111.515 111.736 111.963 112.120 112.381
Market-based PCE\1\...................... 111.971 111.988 112.390 112.929 113.374 113.513 113.894 114.174
Market-based PCE excluding food
and energy\1\........................... 108.629 108.735 109.065 109.290 109.537 109.745 109.852 110.112
----------------------------------------------------------------------------------------
Percent change from preceding period in price indexes,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------
PCE........................................ .5 .1 .4 .5 .3 .1 .3 .2
Durable goods............................ .1 -.1 -.1 .0 .0 -.3 .1 .0
Nondurable goods......................... .9 -.2 .7 1.1 .7 .1 .6 .3
Services................................. .3 .2 .3 .2 .2 .3 .3 .2
Addenda:
PCE excluding food and energy............ .2 .2 .3 .2 .2 .2 .1 .2
Market-based PCE\1\...................... .5 .0 .4 .5 .4 .1 .3 .2
Market-based PCE excluding food
and energy\1\........................... .1 .1 .3 .2 .2 .2 .1 .2
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
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
-----------------------------------------------------------------------------------------------------------------------------------
Jan 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 2.1 2.5 2.8 3.0 2.8 2.7 2.6 5.4
Personal consumption expenditures.......... 3.3 3.4 3.5 2.9 3.4 2.7 2.3 2.7
Durable goods............................ 7.9 6.0 5.9 2.3 6.1 2.0 -1.8 3.2
Nondurable goods......................... 4.7 4.3 4.6 3.6 3.9 3.4 3.5 3.0
Services................................. 1.8 2.5 2.4 2.7 2.6 2.5 2.6 2.5
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
Jan 06 Feb 06 Mar 06 Apr 06\r\ May 06\r\ Jun 06\r\ Jul 06\r\ Aug 06\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 3.2 3.0 2.9 3.0 3.3 3.5 3.4 3.2
Durable goods............................ -1.5 -1.4 -1.5 -1.4 -1.6 -1.5 -1.1 -.7
Nondurable goods......................... 4.3 3.6 3.5 3.8 5.0 5.3 4.8 4.0
Services................................. 3.7 3.6 3.5 3.5 3.5 3.6 3.6 3.6
Addenda:
PCE excluding food and energy............ 2.0 2.0 2.0 2.2 2.2 2.3 2.3 2.5
Market-based PCE\1\...................... 3.1 2.8 2.7 2.8 3.2 3.4 3.3 3.1
Market-based PCE excluding food
and energy\1\........................... 1.6 1.6 1.6 1.8 1.8 2.0 2.0 2.1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
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.