News Release
Personal Income and Outlays, June 2006
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James E. Rankin: (202) 606-5301 (Personal Income) BEA 06-34
Michael Armah: (202) 606-5302 (Personal Outlays)
Kurt Kunze: (202) 606-9748 (Annual Revision)
PERSONAL INCOME AND OUTLAYS: JUNE 2006
REVISED ESTIMATES: 2003 THROUGH MAY 2006
Personal income increased $66.5 billion, or 0.6 percent, and disposable personal income (DPI)
increased $53.2 billion, or 0.6 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $35.4 billion, or 0.4 percent. In May, personal
income increased $41.7 billion, or 0.4 percent, DPI increased $34.6 billion, or 0.4 percent, and PCE
increased $51.4 billion, or 0.6 percent, based on revised estimates.
2006
Feb. Mar. Apr. May June
(Percent change from preceding month)
Personal income, current dollars 0.3 0.4 0.7 0.4 0.6
Disposable personal income:
Current dollars 0.2 0.3 0.6 0.4 0.6
Chained (2000) dollars 0.1 0.0 0.1 0.0 0.4
Personal consumption expenditures:
Current dollars 0.5 0.5 0.6 0.6 0.4
Chained (2000) dollars 0.4 0.1 0.2 0.2 0.2
The estimates released today reflect the annual revision to the national income and product
accounts, beginning with January 2003. Annual revisions, which are usually made each July,
incorporate source data that are more complete, more detailed, and otherwise more reliable than
previously available. This release includes revised estimates of monthly personal income, disposable
personal income, and outlays and provides an overview of the effects of the revision.
The August 2006 Survey of Current Business will contain national income and product accounts
tables and an article describing the revisions. The revised estimates will be available from BEA's
Web site at www.bea.gov.
Wages and salaries
Private wage and salary disbursements increased $34.6 billion in June, in contrast to a decrease
of $2.3 billion in May. Goods-producing industries' payrolls increased $6.6 billion, compared with
an increase of $2.9 billion; manufacturing payrolls increased $2.2 billion, following no change.
Services-producing industries' payrolls increased $28.1 billion, in contrast to a decrease of $5.2
billion. Government wage and salary disbursements increased $3.7 billion, compared with an
increase of $2.6 billion.
Other personal income
Supplements to wages and salaries increased $6.9 billion in June, compared with an increase of
$4.1 billion in May.
Proprietors' income increased $0.6 billion in June, compared with an increase of $7.5 billion in
May. Farm proprietors' income decreased $0.5 billion, compared with a decrease of $2.3 billion.
Nonfarm proprietors' income increased $1.1 billion, compared with an increase of $9.8 billion.
Rental income of persons decreased $5.1 billion in June, compared with a decrease of $4.1
billion in May. Personal income receipts on assets (personal interest income plus personal dividend
income) increased $24.0 billion, compared with an increase of $23.1 billion. Personal current
transfer receipts increased $7.0 billion, compared with an increase of $11.0 billion.
Contributions for government social insurance -- a subtraction in calculating personal income --
increased $5.1 billion in June, compared with an increase of $0.2 billion in May.
Personal current taxes and disposable personal income
Personal current taxes increased $13.3 billion in June, compared with an increase $7.1 billion
in May. Disposable personal income (DPI) -- personal income less personal current taxes --
increased $53.2 billion, or 0.6 percent, in June, compared with an increase of $34.6 billion, or 0.4
percent, in May.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $39.6 billion in June, compared with an increase of $55.6 billion in May. PCE increased
$35.4 billion, compared with an increase of $51.4 billion.
Personal saving -- DPI less personal outlays -- was a negative $138.9 billion in June, compared
with a negative $152.5 billion in May. Personal saving as a percentage of disposable personal
income was a negative 1.5 percent in June, compared with a negative 1.6 percent in May. 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, go to
/bea/dn/nipaweb/Nipa-Frb.asp.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in June, compared
with a decrease of less than 0.1 percent in May.
Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in June, the same
increase as in May. Purchases of durable goods increased 0.5 percent in June, in contrast to a
decrease of 0.6 percent in May. Purchases of nondurable goods increased 0.3 percent, compared
with an increase of 0.2 percent. Purchases of services increased 0.1 percent, compared with a
increase of 0.4 percent.
PCE price index -- The PCE price index increased 0.2 percent in June, compared with an
increase of 0.4 percent in May. The PCE price index, excluding food and energy, increased 0.2
percent, the same increase as in May.
Revision of the Personal Income and Outlays Estimates
Personal income, personal outlays, DPI, and personal saving are revised, beginning with
January 2003 to reflect the results of the annual revision in 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.
The revised annual revisions to the estimates of personal income and outlays, for 2003-2005,
are shown in table 12. Revised and previously published monthly estimates of personal income,
DPI, PCE, personal saving as a percentage of DPI, real DPI, real PCE are shown in table 13; revised
and previously published annual and quarterly estimates are shown in table 14.
Personal income was revised down $5.5 billion, or 0.1 percent, for 2003; was revised up
$18.1 billion, or 0.2 percent, for 2004; and was revised up $1.5 billion, or less than 0.1 percent, for
2005. For 2003, a downward revision to compensation of employees was partly offset by an upward
revision to personal current transfer receipts. For 2004, upward revisions to personal dividend
income and to nonfarm proprietors' income were partly offset by downward revisions to
compensation of employees and to personal interest income. For 2005, upward revisions to personal
dividend income and to both farm and nonfarm proprietors' income were largely offset by a
downward revision to compensation of employees
Personal current taxes was revised up $1.2 billion for 2003, was revised up $0.7 billion for
2004, and was revised down $4.6 billion for 2005. DPI was revised down $6.7 billion, or 0.1
percent, for 2003; was revised up $17.4 billion, or 0.2 percent, for 2004; and was revised up $6.2
billion, or 0.1 percent, for 2005. The revisions were roughly similar to those to personal income,
reflecting the relatively small revisions to personal current taxes. The percent change from the
preceding year in real DPI was revised down from 2.4 percent to 2.2 percent for 2003, was revised
up from 3.4 percent to 3.6 percent for 2004, and was revised down from 1.3 percent to 1.2 percent
for 2005.
Personal outlays was revised down for all 3 years: $8.6 billion for 2003, $5.3 billion for
2004, and $1.2 billion for 2005. Revisions to PCE accounted for most of the revisions for all 3
years. The personal saving rate was unrevised at 2.1 percent for 2003, was revised up from 1.8
percent to 2.0 percent for 2004, and was revised up from a negative 0.5 percent to a negative 0.4
percent for 2005.
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 July will be released on
August 31, 2006, at 8:30 A.M. EDT.
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------------------------
Dec 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,945.3 8,968.1 8,995.2 9,031.3 9,058.5 9,117.8 9,157.6 9,175.1 9,200.6 9,235.2 9,281.5
Compensation of employees, received...... 6,143.3 6,163.9 6,192.7 6,216.5 6,237.9 6,281.3 6,306.9 6,316.1 6,342.2 6,364.2 6,407.4
Wage and salary disbursements.......... 4,988.8 5,001.2 5,022.4 5,039.4 5,055.0 5,090.2 5,110.0 5,115.0 5,135.6 5,152.2 5,188.5
Private industries................... 4,111.4 4,111.4 4,127.9 4,142.2 4,155.3 4,186.7 4,199.8 4,207.7 4,228.2 4,245.7 4,278.4
Goods-producing industries......... 1,001.2 999.6 999.9 1,000.1 996.8 1,002.1 1,003.4 995.5 1,000.9 1,008.7 1,023.1
Manufacturing.................... 667.6 665.2 666.7 665.7 661.6 665.8 666.2 659.2 662.2 667.2 677.7
Services-producing industries...... 3,110.1 3,111.8 3,128.0 3,142.1 3,158.4 3,184.6 3,196.4 3,212.3 3,227.3 3,237.0 3,255.3
Trade, transportation, and
utilities....................... 842.9 845.7 850.1 852.7 851.0 854.0 854.6 855.1 859.8 861.9 871.6
Other services-producing
industries...................... 2,267.2 2,266.0 2,277.9 2,289.4 2,307.4 2,330.6 2,341.8 2,357.1 2,367.5 2,375.0 2,383.7
Government........................... 877.4 889.8 894.5 897.2 899.7 903.5 910.2 907.2 907.5 906.5 910.1
Supplements to wages and salaries...... 1,154.5 1,162.7 1,170.3 1,177.1 1,183.0 1,191.0 1,196.9 1,201.1 1,206.5 1,212.0 1,218.9
Employer contributions for employee
pension and insurance funds......... 788.3 789.7 795.4 800.2 804.9 810.6 814.7 818.5 822.5 826.5 831.1
Employer contributions for government
social insurance.................... 366.3 373.0 375.0 376.8 378.1 380.5 382.2 382.6 384.0 385.5 387.8
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 779.6 779.1 776.3 782.0 788.2 804.1 812.5 817.5 821.6 831.4 832.2
Farm................................... 19.9 19.8 21.6 23.9 28.6 30.7 32.0 31.7 32.1 32.4 31.6
Nonfarm................................ 759.7 759.3 754.8 758.1 759.6 773.4 780.5 785.8 789.5 799.0 800.6
Rental income of persons with capital
consumption adjustment.................. 128.7 137.0 138.0 137.3 133.8 130.7 126.9 120.3 113.7 115.1 134.0
Personal income receipts on assets....... 1,330.0 1,327.7 1,329.0 1,330.5 1,331.7 1,334.9 1,338.1 1,341.4 1,340.1 1,337.0 1,336.3
Personal interest income............... 918.7 918.7 919.8 920.6 918.8 919.7 920.3 920.5 915.5 907.9 903.2
Personal dividend income............... 411.4 409.0 409.2 409.9 412.9 415.2 417.8 420.9 424.7 429.1 433.1
Personal current transfer receipts....... 1,315.4 1,322.5 1,324.7 1,333.6 1,337.7 1,342.4 1,351.8 1,359.2 1,365.0 1,372.3 1,360.9
Government social benefits to persons.. 1,283.3 1,285.9 1,288.3 1,297.4 1,301.7 1,306.6 1,316.6 1,324.6 1,331.0 1,339.2 1,328.4
Old-age, survivors, disability, and
health insurance benefits........... 722.7 726.5 728.3 731.4 734.0 740.0 740.1 741.1 746.0 747.2 749.0
Government unemployment insurance
benefits............................ 54.3 49.4 49.6 53.8 54.7 51.7 57.3 54.4 52.9 55.7 51.4
Other................................ 506.3 510.0 510.4 512.2 513.0 514.9 519.2 529.1 532.2 536.3 528.0
Other current transfer receipts, from
business (net)........................ 32.1 36.7 36.4 36.2 36.0 35.7 35.2 34.6 34.0 33.1 32.5
Less: Contributions for government social
insurance............................... 751.7 762.1 765.5 768.6 770.9 775.6 778.6 779.4 782.1 784.8 789.3
Less: Personal current taxes............... 1,041.6 1,022.4 1,022.8 1,023.0 1,016.8 1,023.5 1,030.7 934.7 889.5 1,003.6 1,010.3
Equals: Disposable personal income......... 7,903.7 7,945.8 7,972.4 8,008.3 8,041.7 8,094.3 8,126.9 8,240.4 8,311.0 8,231.6 8,271.2
Less: Personal outlays..................... 7,786.0 7,800.3 7,810.4 7,868.5 7,880.3 7,904.9 7,956.0 8,007.3 8,105.5 8,088.3 8,100.2
Personal consumption expenditures........ 7,501.3 7,522.1 7,532.8 7,589.5 7,597.2 7,619.2 7,668.8 7,723.3 7,820.9 7,803.7 7,812.3
Durable goods.......................... 946.9 924.9 897.5 912.0 933.3 935.7 943.0 954.1 984.3 954.9 950.1
Nondurable goods....................... 2,116.9 2,135.2 2,156.9 2,184.9 2,154.7 2,139.7 2,171.9 2,188.0 2,230.2 2,232.3 2,220.7
Services............................... 4,437.5 4,462.0 4,478.3 4,492.7 4,509.1 4,543.9 4,553.9 4,581.2 4,606.4 4,616.5 4,641.5
Personal interest payments\1\............ 183.9 179.4 178.5 179.4 182.6 184.7 185.9 184.7 184.8 184.4 182.2
Personal current transfer payments....... 100.8 98.8 99.1 99.5 100.5 100.9 101.3 99.4 99.8 100.3 105.8
To government.......................... 59.7 59.2 59.5 59.9 60.2 60.6 61.0 61.4 61.8 62.3 62.7
To the rest of the world (net)......... 41.1 39.6 39.6 39.6 40.3 40.3 40.3 38.0 38.0 38.0 43.1
Equals: Personal saving.................... 117.8 145.5 162.0 139.8 161.4 189.4 170.9 233.1 205.5 143.3 171.0
Personal saving as a percentage of
disposable personal income.............. 1.5 1.8 2.0 1.7 2.0 2.3 2.1 2.8 2.5 1.7 2.1
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,574.0 7,597.3 7,586.8 7,591.1 7,640.4 7,697.0 7,719.6 7,809.2 7,850.9 7,754.6 7,790.3
Per capita:
Current dollars...................... 27,292 27,417 27,489 27,592 27,685 27,843 27,931 28,296 28,513 28,215 28,326
Chained (2000) dollars............... 26,154 26,214 26,160 26,155 26,304 26,476 26,531 26,815 26,934 26,580 26,679
Population (midperiod, thousands)\3\..... 289,599 289,813 290,022 290,241 290,472 290,714 290,965 291,222 291,485 291,749 292,005
----------------------------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------------------------
Nov 03 Dec 03 Jan 04 Feb 04 Mar 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,353.5 9,389.0 9,448.6 9,500.2 9,544.2 9,591.8 9,654.3 9,675.5 9,730.4 9,779.7 9,793.7
Compensation of employees, received...... 6,450.5 6,444.9 6,497.3 6,527.7 6,551.4 6,582.3 6,625.3 6,627.5 6,684.2 6,713.3 6,746.4
Wage and salary disbursements.......... 5,225.6 5,217.2 5,256.8 5,282.0 5,301.0 5,326.1 5,362.3 5,360.4 5,409.4 5,431.8 5,458.2
Private industries................... 4,313.6 4,302.5 4,330.9 4,352.9 4,366.6 4,383.9 4,423.3 4,420.0 4,467.4 4,486.8 4,510.9
Goods-producing industries......... 1,034.5 1,029.8 1,024.8 1,025.3 1,027.7 1,034.3 1,048.4 1,046.9 1,057.0 1,063.9 1,067.7
Manufacturing.................... 686.8 682.1 674.6 673.8 672.4 675.9 687.3 685.7 693.2 698.1 700.0
Services-producing industries...... 3,279.1 3,272.7 3,306.1 3,327.6 3,338.9 3,349.6 3,374.9 3,373.1 3,410.3 3,422.8 3,443.2
Trade, transportation, and
utilities....................... 874.6 868.5 874.2 878.6 882.7 890.8 896.3 895.6 904.4 906.3 912.7
Other services-producing
industries...................... 2,404.4 2,404.3 2,431.9 2,449.0 2,456.2 2,458.8 2,478.6 2,477.5 2,506.0 2,516.5 2,530.4
Government........................... 912.0 914.7 925.9 929.1 934.4 942.2 939.0 940.4 942.1 945.0 947.3
Supplements to wages and salaries...... 1,225.0 1,227.7 1,240.5 1,245.7 1,250.4 1,256.2 1,262.9 1,267.1 1,274.8 1,281.5 1,288.3
Employer contributions for employee
pension and insurance funds......... 834.7 838.3 842.5 846.0 849.7 854.2 858.1 862.4 866.8 871.7 876.7
Employer contributions for government
social insurance.................... 390.3 389.4 398.0 399.7 400.7 402.0 404.9 404.6 408.0 409.8 411.5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 839.2 850.9 865.7 875.0 891.8 901.0 911.4 918.1 918.1 916.4 910.8
Farm................................... 32.3 33.6 36.8 38.2 39.2 40.0 39.8 38.9 35.2 32.6 30.9
Nonfarm................................ 806.9 817.2 828.9 836.8 852.6 861.0 871.7 879.2 882.9 883.8 879.8
Rental income of persons with capital
consumption adjustment.................. 151.1 157.8 142.8 140.1 137.4 134.3 131.9 129.8 128.9 122.7 86.5
Personal income receipts on assets....... 1,342.2 1,350.6 1,360.8 1,366.1 1,371.4 1,379.8 1,389.7 1,400.1 1,409.2 1,416.0 1,422.0
Personal interest income............... 902.2 901.8 898.0 892.6 887.8 888.1 888.9 890.1 890.5 889.3 887.4
Personal dividend income............... 440.0 448.8 462.9 473.5 483.7 491.7 500.8 509.9 518.7 526.7 534.5
Personal current transfer receipts....... 1,364.5 1,377.2 1,389.9 1,402.5 1,405.5 1,410.7 1,417.7 1,421.6 1,418.3 1,443.2 1,463.5
Government social benefits to persons.. 1,333.1 1,347.6 1,362.8 1,377.2 1,381.1 1,386.5 1,394.1 1,398.3 1,395.2 1,405.1 1,409.4
Old-age, survivors, disability, and
health insurance benefits........... 751.8 760.8 765.7 776.8 779.9 782.9 786.3 789.9 792.9 796.6 800.0
Government unemployment insurance
benefits............................ 51.2 51.7 46.5 43.2 39.2 34.8 36.5 35.0 33.0 35.2 31.7
Other................................ 530.1 535.1 550.6 557.1 562.0 568.9 571.2 573.3 569.3 573.3 577.7
Other current transfer receipts, from
business (net)........................ 31.4 29.7 27.1 25.4 24.4 24.1 23.6 23.3 23.1 38.0 54.2
Less: Contributions for government social
insurance............................... 794.1 792.4 807.9 811.2 813.3 816.2 821.7 821.5 828.3 831.7 835.5
Less: Personal current taxes............... 1,017.6 1,018.1 1,011.3 1,016.2 1,020.7 1,026.5 1,035.3 1,038.5 1,052.7 1,061.3 1,070.9
Equals: Disposable personal income......... 8,335.8 8,370.9 8,437.3 8,484.0 8,523.6 8,565.3 8,618.9 8,637.0 8,677.7 8,718.4 8,722.9
Less: Personal outlays..................... 8,156.3 8,173.9 8,264.3 8,290.5 8,353.4 8,373.7 8,487.2 8,455.3 8,532.3 8,546.3 8,616.7
Personal consumption expenditures........ 7,868.5 7,885.3 7,977.7 8,005.9 8,070.5 8,086.6 8,196.5 8,161.3 8,235.3 8,246.1 8,313.7
Durable goods.......................... 966.6 955.7 960.5 970.9 983.1 970.1 1,001.7 956.8 990.8 975.5 1,006.4
Nondurable goods....................... 2,235.7 2,232.2 2,271.2 2,268.7 2,314.3 2,301.0 2,342.4 2,339.8 2,347.7 2,348.1 2,370.7
Services............................... 4,666.2 4,697.4 4,746.0 4,766.2 4,773.1 4,815.5 4,852.4 4,864.7 4,896.8 4,922.5 4,936.5
Personal interest payments\1\............ 181.5 181.9 179.7 177.2 175.0 178.1 181.2 184.1 186.7 189.4 191.9
Personal current transfer payments....... 106.3 106.8 106.9 107.4 107.9 109.0 109.5 110.0 110.3 110.8 111.2
To government.......................... 63.2 63.7 64.2 64.7 65.2 65.7 66.2 66.6 67.1 67.6 68.0
To the rest of the world (net)......... 43.1 43.1 42.7 42.7 42.7 43.3 43.3 43.3 43.2 43.2 43.2
Equals: Personal saving.................... 179.6 197.0 173.0 193.5 170.2 191.6 131.7 181.6 145.3 172.2 106.1
Personal saving as a percentage of
disposable personal income.............. 2.2 2.4 2.1 2.3 2.0 2.2 1.5 2.1 1.7 2.0 1.2
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,853.8 7,867.8 7,898.2 7,914.8 7,924.0 7,949.9 7,965.0 7,961.4 7,994.5 8,025.3 8,019.9
Per capita:
Current dollars...................... 28,524 28,624 28,832 28,970 29,084 29,204 29,362 29,399 29,512 29,624 29,613
Chained (2000) dollars............... 26,875 26,904 26,989 27,027 27,038 27,105 27,135 27,099 27,188 27,269 27,226
Population (midperiod, thousands)\3\..... 292,235 292,440 292,642 292,850 293,067 293,296 293,536 293,784 294,040 294,301 294,563
----------------------------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------------------------
Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05 May 05 Jun 05 Jul 05 Aug 05
----------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,885.1 9,914.2 10,258.9 10,018.9 10,051.4 10,076.3 10,125.0 10,152.8 10,206.6 10,288.3 10,103.5
Compensation of employees, received...... 6,793.8 6,802.8 6,831.5 6,874.2 6,891.3 6,903.3 6,935.2 6,946.5 6,979.3 7,064.2 7,087.7
Wage and salary disbursements.......... 5,496.7 5,499.7 5,521.0 5,546.8 5,557.2 5,563.1 5,589.0 5,594.6 5,620.3 5,693.0 5,709.8
Private industries................... 4,546.2 4,547.3 4,567.8 4,580.9 4,588.4 4,592.8 4,616.5 4,620.9 4,645.2 4,715.4 4,729.5
Goods-producing industries......... 1,070.1 1,068.5 1,075.4 1,077.9 1,079.4 1,079.4 1,083.4 1,086.7 1,092.5 1,107.9 1,116.6
Manufacturing.................... 699.4 695.8 699.1 699.2 697.4 694.2 695.5 697.3 699.2 707.0 712.0
Services-producing industries...... 3,476.0 3,478.8 3,492.4 3,503.0 3,508.9 3,513.4 3,533.1 3,534.2 3,552.8 3,607.5 3,612.9
Trade, transportation, and
utilities....................... 916.2 915.8 916.8 918.5 917.2 918.7 929.4 929.1 932.6 945.4 944.1
Other services-producing
industries...................... 2,559.8 2,563.0 2,575.6 2,584.4 2,591.7 2,594.7 2,603.7 2,605.1 2,620.2 2,662.2 2,668.8
Government........................... 950.5 952.4 953.2 965.9 968.9 970.3 972.4 973.7 975.1 977.6 980.2
Supplements to wages and salaries...... 1,297.1 1,303.0 1,310.5 1,327.4 1,334.0 1,340.2 1,346.2 1,351.9 1,359.0 1,371.2 1,378.0
Employer contributions for employee
pension and insurance funds......... 882.7 888.1 893.9 904.2 909.9 915.4 919.6 924.5 929.8 936.5 942.0
Employer contributions for government
social insurance.................... 414.4 414.9 416.6 423.3 424.2 424.8 426.7 427.4 429.2 434.7 436.0
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 934.0 940.5 950.1 949.4 951.1 957.8 958.4 962.2 976.9 981.9 925.5
Farm................................... 34.4 34.3 34.0 34.8 34.0 32.7 29.4 28.5 28.4 30.5 28.3
Nonfarm................................ 899.6 906.3 916.1 914.6 917.1 925.1 929.0 933.7 948.6 951.4 897.2
Rental income of persons with capital
consumption adjustment.................. 125.1 123.5 121.7 121.8 118.8 114.8 107.1 102.6 98.7 96.3 -213.1
Personal income receipts on assets....... 1,431.1 1,440.3 1,748.0 1,456.2 1,464.0 1,472.7 1,486.6 1,500.4 1,514.5 1,523.6 1,532.7
Personal interest income............... 888.0 891.7 897.2 906.1 912.7 918.2 925.7 934.7 943.9 947.6 951.2
Personal dividend income............... 543.1 548.6 850.8 550.1 551.2 554.5 561.0 565.7 570.5 576.1 581.6
Personal current transfer receipts....... 1,442.1 1,449.4 1,453.6 1,478.8 1,490.1 1,492.9 1,507.0 1,511.7 1,511.7 1,507.5 1,658.5
Government social benefits to persons.. 1,418.3 1,424.7 1,427.5 1,449.4 1,459.0 1,460.5 1,474.5 1,478.7 1,478.2 1,473.5 1,495.7
Old-age, survivors, disability, and
health insurance benefits........... 803.8 808.4 813.0 824.3 836.1 836.3 842.3 844.2 846.6 847.5 848.5
Government unemployment insurance
benefits............................ 32.9 33.0 30.9 35.5 31.9 30.9 30.6 32.0 29.3 30.6 30.7
Other................................ 581.6 583.4 583.5 589.6 590.9 593.4 601.6 602.5 602.3 595.4 616.6
Other current transfer receipts, from
business (net)........................ 23.8 24.6 26.1 29.4 31.1 32.4 32.5 33.0 33.5 34.0 162.8
Less: Contributions for government social
insurance............................... 841.0 842.3 845.9 861.6 863.8 865.3 869.2 870.7 874.5 885.2 887.8
Less: Personal current taxes............... 1,082.1 1,087.3 1,095.2 1,150.8 1,157.7 1,165.3 1,184.4 1,191.3 1,199.7 1,207.1 1,213.5
Equals: Disposable personal income......... 8,803.0 8,826.9 9,163.7 8,868.1 8,893.8 8,911.0 8,940.7 8,961.4 9,006.9 9,081.2 8,890.0
Less: Personal outlays..................... 8,676.7 8,718.4 8,771.6 8,787.0 8,839.4 8,888.9 8,975.7 8,970.5 9,055.1 9,165.6 9,158.5
Personal consumption expenditures........ 8,371.6 8,410.8 8,462.0 8,469.4 8,520.7 8,569.0 8,654.4 8,644.6 8,724.8 8,833.9 8,825.5
Durable goods.......................... 997.4 999.5 1,022.5 1,005.9 1,010.1 1,023.2 1,055.5 1,012.7 1,058.8 1,114.7 1,042.6
Nondurable goods....................... 2,407.5 2,412.4 2,418.2 2,430.8 2,457.4 2,462.4 2,513.8 2,501.3 2,510.7 2,540.6 2,577.2
Services............................... 4,966.7 4,999.0 5,021.3 5,032.8 5,053.2 5,083.3 5,085.1 5,130.6 5,155.3 5,178.7 5,205.6
Personal interest payments\1\............ 194.3 196.3 198.0 199.0 199.8 200.6 204.6 208.5 212.5 213.7 214.6
Personal current transfer payments....... 110.8 111.2 111.6 118.6 119.0 119.4 116.8 117.3 117.8 118.0 118.5
To government.......................... 68.5 68.9 69.3 69.6 69.9 70.4 70.8 71.3 71.8 72.2 72.7
To the rest of the world (net)......... 42.4 42.4 42.4 49.0 49.0 49.0 46.0 46.0 46.0 45.8 45.8
Equals: Personal saving.................... 126.3 108.5 392.1 81.1 54.3 22.1 -35.1 -9.1 -48.2 -84.4 -268.5
Personal saving as a percentage of
disposable personal income.............. 1.4 1.2 4.3 .9 .6 .2 -.4 -.1 -.5 -.9 -3.0
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 8,053.2 8,057.8 8,365.2 8,083.7 8,083.3 8,063.2 8,062.0 8,077.7 8,117.6 8,151.5 7,946.9
Per capita:
Current dollars...................... 29,859 29,917 31,037 30,016 30,083 30,121 30,199 30,246 30,375 30,600 29,930
Chained (2000) dollars............... 27,316 27,310 28,333 27,361 27,342 27,255 27,231 27,263 27,376 27,468 26,755
Population (midperiod, thousands)\3\..... 294,817 295,045 295,249 295,445 295,640 295,843 296,059 296,287 296,522 296,769 297,027
----------------------------------------------------------------------------------------------------------------------------------------------
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]
-------------------------------------------------------------------------------------------------------------------------------------
Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 10,396.1 10,452.6 10,472.4 10,526.1 10,612.4 10,644.2 10,685.8 10,762.9 10,804.6 10,871.1
Compensation of employees, received...... 7,128.7 7,169.6 7,173.1 7,210.6 7,282.1 7,317.9 7,345.9 7,408.6 7,413.1 7,458.2
Wage and salary disbursements.......... 5,742.7 5,777.3 5,776.5 5,807.2 5,863.6 5,893.4 5,915.8 5,969.4 5,969.8 6,008.1
Private industries................... 4,758.8 4,791.8 4,788.2 4,816.6 4,868.3 4,894.7 4,915.4 4,966.3 4,964.0 4,998.6
Goods-producing industries......... 1,117.0 1,125.9 1,121.9 1,127.0 1,140.9 1,145.0 1,147.3 1,155.6 1,158.5 1,165.1
Manufacturing.................... 709.9 719.2 711.9 713.9 723.9 726.5 727.6 732.5 732.5 734.7
Services-producing industries...... 3,641.7 3,665.9 3,666.3 3,689.6 3,727.4 3,749.7 3,768.1 3,810.7 3,805.5 3,833.6
Trade, transportation, and
utilities....................... 947.1 951.1 954.9 958.7 961.5 966.2 969.3 979.3 976.2 983.3
Other services-producing
industries...................... 2,694.7 2,714.8 2,711.4 2,730.9 2,765.9 2,783.5 2,798.7 2,831.5 2,829.3 2,850.2
Government........................... 983.9 985.5 988.3 990.6 995.3 998.7 1,000.4 1,003.2 1,005.8 1,009.5
Supplements to wages and salaries...... 1,386.0 1,392.2 1,396.5 1,403.4 1,418.5 1,424.5 1,430.1 1,439.2 1,443.3 1,450.2
Employer contributions for employee
pension and insurance funds......... 947.9 951.3 956.0 960.9 967.4 971.6 975.7 981.0 985.2 989.6
Employer contributions for government
social insurance.................... 438.1 441.0 440.5 442.5 451.1 452.9 454.5 458.2 458.1 460.6
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 994.5 993.5 995.4 1,001.4 1,006.6 1,005.7 1,012.5 1,012.1 1,019.6 1,020.2
Farm................................... 30.3 29.2 28.7 28.1 24.6 23.9 23.2 21.2 18.9 18.4
Nonfarm................................ 964.2 964.3 966.7 973.2 982.0 981.8 989.3 990.9 1,000.7 1,001.8
Rental income of persons with capital
consumption adjustment.................. 82.3 80.1 83.9 80.5 78.0 75.9 76.4 72.4 68.3 63.2
Personal income receipts on assets....... 1,541.8 1,561.3 1,580.3 1,599.1 1,600.8 1,602.1 1,603.9 1,626.5 1,649.6 1,673.6
Personal interest income............... 954.8 968.5 981.8 994.9 992.0 989.1 986.2 1,003.8 1,021.4 1,039.0
Personal dividend income............... 587.0 592.8 598.5 604.2 608.8 613.0 617.8 622.7 628.2 634.6
Personal current transfer receipts....... 1,541.1 1,546.1 1,537.3 1,536.0 1,566.3 1,568.7 1,576.3 1,580.3 1,591.3 1,598.3
Government social benefits to persons.. 1,498.3 1,500.0 1,501.8 1,500.5 1,531.9 1,534.3 1,541.7 1,545.4 1,556.3 1,563.1
Old-age, survivors, disability, and
health insurance benefits........... 849.6 851.6 852.2 860.1 901.4 910.3 917.9 920.8 927.9 935.8
Government unemployment insurance
benefits............................ 29.4 34.3 30.5 30.1 28.6 27.4 27.4 27.0 27.0 27.0
Other................................ 619.4 614.1 619.2 610.3 601.9 596.6 596.4 597.6 601.4 600.2
Other current transfer receipts, from
business (net)........................ 42.8 46.1 35.4 35.5 34.4 34.5 34.6 34.8 35.0 35.2
Less: Contributions for government social
insurance............................... 892.4 897.8 897.5 901.5 921.4 926.2 929.3 937.1 937.3 942.4
Less: Personal current taxes............... 1,224.3 1,236.4 1,245.1 1,261.5 1,312.8 1,326.7 1,338.4 1,364.0 1,371.1 1,384.4
Equals: Disposable personal income......... 9,171.9 9,216.3 9,227.3 9,264.6 9,299.6 9,317.5 9,347.4 9,398.9 9,433.5 9,486.7
Less: Personal outlays..................... 9,216.9 9,248.1 9,253.1 9,292.5 9,371.3 9,418.6 9,465.7 9,530.4 9,586.0 9,625.6
Personal consumption expenditures........ 8,882.5 8,911.6 8,916.4 8,955.5 9,034.4 9,079.2 9,123.8 9,182.2 9,233.6 9,269.0
Durable goods.......................... 1,014.6 996.5 1,023.3 1,039.1 1,069.8 1,055.7 1,066.9 1,064.4 1,057.4 1,060.5
Nondurable goods....................... 2,637.0 2,652.1 2,594.2 2,594.1 2,655.7 2,654.5 2,664.5 2,704.1 2,727.4 2,737.2
Services............................... 5,230.9 5,263.0 5,299.0 5,322.3 5,308.9 5,369.0 5,392.5 5,413.7 5,448.8 5,471.3
Personal interest payments\1\............ 215.4 215.1 214.9 214.7 216.6 218.5 220.4 224.1 227.7 231.4
Personal current transfer payments....... 119.0 121.3 121.8 122.3 120.4 120.9 121.4 124.1 124.7 125.2
To government.......................... 73.2 73.7 74.2 74.7 75.2 75.7 76.3 76.8 77.3 77.9
To the rest of the world (net)......... 45.8 47.6 47.6 47.6 45.2 45.2 45.2 47.3 47.3 47.3
Equals: Personal saving.................... -45.1 -31.8 -25.8 -27.8 -71.7 -101.1 -118.2 -131.6 -152.5 -138.9
Personal saving as a percentage of
disposable personal income.............. -.5 -.3 -.3 -.3 -.8 -1.1 -1.3 -1.4 -1.6 -1.5
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 8,123.5 8,144.5 8,185.4 8,220.1 8,211.7 8,221.5 8,219.2 8,227.0 8,226.7 8,258.8
Per capita:
Current dollars...................... 30,852 30,976 30,990 31,094 31,192 31,231 31,311 31,460 31,552 31,705
Chained (2000) dollars............... 27,326 27,373 27,490 27,589 27,543 27,558 27,531 27,538 27,516 27,601
Population (midperiod, thousands)\3\..... 297,285 297,534 297,756 297,954 298,144 298,337 298,539 298,753 298,979 299,216
-------------------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
2002 2003 2004 2005 IV 02 I 03 II 03 III 03 IV 03
----------------------------------------------------------------------------------------------------------------------------
Personal income............................ 8,881.9 9,163.6 9,731.4 10,239.2 8,925.5 8,998.2 9,111.3 9,203.6 9,341.3
Compensation of employees, received...... 6,091.2 6,310.4 6,665.3 7,030.3 6,133.4 6,191.0 6,275.4 6,340.8 6,434.3
Wage and salary disbursements.......... 4,980.9 5,112.7 5,392.1 5,664.8 4,984.5 5,021.0 5,085.1 5,134.3 5,210.4
Private industries................... 4,115.0 4,208.3 4,450.3 4,687.1 4,109.1 4,127.2 4,180.6 4,227.2 4,298.2
Goods-producing industries......... 1,010.7 1,007.9 1,050.8 1,101.3 999.9 999.9 1,000.8 1,001.7 1,029.1
Manufacturing.................... 675.5 668.9 688.0 704.7 667.1 665.9 664.5 662.9 682.2
Services-producing industries...... 3,104.2 3,200.4 3,399.5 3,585.8 3,109.2 3,127.3 3,179.8 3,225.5 3,269.0
Trade, transportation, and
utilities....................... 843.1 858.3 899.2 937.2 842.0 849.5 853.2 859.0 871.6
Other services-producing
industries...................... 2,261.1 2,342.1 2,500.3 2,648.5 2,267.2 2,277.8 2,326.6 2,366.6 2,397.5
Government........................... 865.9 904.4 941.8 977.7 875.4 893.8 904.5 907.1 912.2
Supplements to wages and salaries...... 1,110.3 1,197.7 1,273.2 1,365.5 1,148.9 1,170.0 1,190.3 1,206.6 1,223.9
Employer contributions for employee
pension and insurance funds......... 745.1 815.6 866.1 933.2 783.2 795.1 810.1 822.5 834.7
Employer contributions for government
social insurance.................... 365.2 382.1 407.1 432.3 365.8 374.9 380.3 384.1 389.2
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 768.4 811.3 911.1 970.7 778.1 779.1 801.6 823.5 840.8
Farm................................... 10.6 29.2 36.2 30.2 18.4 21.8 30.5 32.1 32.5
Nonfarm................................ 757.8 782.1 874.9 940.4 759.7 757.4 771.2 791.5 808.3
Rental income of persons with capital
consumption adjustment.................. 152.9 133.0 127.0 72.8 129.2 137.4 130.5 116.3 147.6
Personal income receipts on assets....... 1,333.2 1,336.6 1,427.9 1,519.4 1,328.5 1,329.1 1,334.9 1,339.5 1,343.1
Personal interest income............... 936.1 914.1 890.8 945.0 918.4 919.7 919.6 914.6 902.4
Personal dividend income............... 397.2 422.6 537.1 574.4 410.0 409.4 415.3 424.9 440.7
Personal current transfer receipts....... 1,286.2 1,351.0 1,426.5 1,526.6 1,307.1 1,327.0 1,344.0 1,365.5 1,367.6
Government social benefits to persons.. 1,248.9 1,316.7 1,398.4 1,480.9 1,274.2 1,290.5 1,308.3 1,331.6 1,336.4
Old-age, survivors, disability, and
health insurance benefits........... 707.5 741.3 791.4 844.9 716.7 728.7 738.0 744.7 753.9
Government unemployment insurance
benefits............................ 53.2 52.8 36.0 31.3 53.1 50.9 54.6 54.3 51.4
Other................................ 488.2 522.5 571.0 604.6 504.4 510.9 515.7 532.5 531.1
Other current transfer receipts, from
business (net)........................ 37.3 34.3 28.1 45.7 32.9 36.4 35.6 33.9 31.2
Less: Contributions for government social
insurance............................... 750.0 778.6 826.4 880.6 750.9 765.4 775.0 782.1 791.9
Less: Personal current taxes............... 1,051.8 1,001.1 1,049.8 1,203.1 1,043.8 1,022.7 1,023.7 942.6 1,015.4
Equals: Disposable personal income......... 7,830.1 8,162.5 8,681.6 9,036.1 7,881.7 7,975.5 8,087.6 8,261.0 8,326.0
Less: Personal outlays..................... 7,645.3 7,987.7 8,507.2 9,070.9 7,742.4 7,826.4 7,913.7 8,067.0 8,143.5
Personal consumption expenditures........ 7,350.7 7,703.6 8,211.5 8,742.4 7,453.1 7,548.1 7,628.4 7,782.6 7,855.3
Durable goods.......................... 923.9 942.7 986.3 1,033.1 921.5 911.5 937.3 964.4 957.4
Nondurable goods....................... 2,079.6 2,190.2 2,345.2 2,539.3 2,109.7 2,159.0 2,155.4 2,216.8 2,229.5
Services............................... 4,347.2 4,570.8 4,880.1 5,170.0 4,421.8 4,477.7 4,535.6 4,601.4 4,668.4
Personal interest payments\1\............ 196.4 182.5 186.0 209.4 188.8 179.1 184.4 184.6 181.9
Personal current transfer payments....... 98.2 101.5 109.7 119.2 100.5 99.1 100.9 99.8 106.3
To government.......................... 58.2 61.3 66.8 72.0 59.4 59.5 60.6 61.8 63.2
To the rest of the world (net)......... 40.0 40.2 42.9 47.1 41.1 39.6 40.3 38.0 43.1
Equals: Personal saving.................... 184.7 174.9 174.3 -34.8 139.3 149.1 173.9 194.0 182.5
Personal saving as a percentage of
disposable personal income.............. 2.4 2.1 2.0 -.4 1.8 1.9 2.2 2.3 2.2
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,562.2 7,729.9 8,010.8 8,104.6 7,559.3 7,591.7 7,685.7 7,804.8 7,837.3
Per capita:
Current dollars...................... 27,164 28,039 29,536 30,458 27,237 27,499 27,820 28,341 28,492
Chained (2000) dollars............... 26,235 26,553 27,254 27,318 26,123 26,176 26,437 26,776 26,819
Population (midperiod, thousands)\3\..... 288,253 291,114 293,933 296,677 289,375 290,025 290,717 291,485 292,226
----------------------------------------------------------------------------------------------------------------------------
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 04 II 04 III 04 IV 04 I 05 II 05 III 05 IV 05 I 06 II 06
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,497.7 9,640.5 9,767.9 10,019.4 10,048.8 10,161.5 10,262.7 10,483.7 10,647.5 10,812.9
Compensation of employees, received...... 6,525.4 6,611.7 6,714.6 6,809.4 6,889.6 6,953.7 7,093.6 7,184.4 7,315.3 7,426.6
Wage and salary disbursements.......... 5,279.9 5,349.6 5,433.1 5,505.8 5,555.7 5,601.3 5,715.2 5,787.0 5,890.9 5,982.4
Private industries................... 4,350.1 4,409.1 4,488.3 4,553.8 4,587.3 4,627.6 4,734.6 4,798.9 4,892.8 4,976.3
Goods-producing industries......... 1,026.0 1,043.2 1,062.9 1,071.4 1,078.9 1,087.5 1,113.9 1,124.9 1,144.4 1,159.7
Manufacturing.................... 673.6 683.0 697.1 698.1 696.9 697.3 709.7 715.0 726.0 733.2
Services-producing industries...... 3,324.2 3,365.9 3,425.4 3,482.4 3,508.4 3,540.0 3,620.7 3,673.9 3,748.4 3,816.6
Trade, transportation, and
utilities....................... 878.5 894.2 907.8 916.3 918.2 930.4 945.5 954.9 965.7 979.6
Other services-producing
industries...................... 2,445.7 2,471.7 2,517.6 2,566.1 2,590.3 2,609.7 2,675.2 2,719.0 2,782.7 2,837.0
Government........................... 929.8 940.5 944.8 952.1 968.4 973.7 980.6 988.1 998.1 1,006.1
Supplements to wages and salaries...... 1,245.5 1,262.1 1,281.5 1,303.5 1,333.9 1,352.4 1,378.4 1,397.4 1,424.4 1,444.2
Employer contributions for employee
pension and insurance funds......... 846.1 858.2 871.7 888.3 909.8 924.7 942.1 956.1 971.6 985.3
Employer contributions for government
social insurance.................... 399.4 403.8 409.8 415.3 424.1 427.7 436.3 441.3 452.8 458.9
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 877.5 910.2 915.1 941.5 952.8 965.8 967.3 996.8 1,008.3 1,017.3
Farm................................... 38.1 39.5 32.9 34.3 33.9 28.7 29.7 28.7 23.9 19.5
Nonfarm................................ 839.4 870.6 882.2 907.3 918.9 937.1 937.7 968.1 984.4 997.8
Rental income of persons with capital
consumption adjustment.................. 140.1 132.0 112.7 123.4 118.5 102.8 -11.5 81.5 76.8 68.0
Personal income receipts on assets....... 1,366.1 1,389.8 1,415.7 1,539.8 1,464.3 1,500.5 1,532.7 1,580.2 1,602.3 1,649.9
Personal interest income............... 892.8 889.0 889.1 892.3 912.3 934.8 951.2 981.7 989.1 1,021.4
Personal dividend income............... 473.4 500.8 526.6 647.5 552.0 565.7 581.5 598.5 613.2 628.5
Personal current transfer receipts....... 1,399.3 1,416.7 1,441.7 1,448.4 1,487.3 1,510.1 1,569.0 1,539.8 1,570.4 1,589.9
Government social benefits to persons.. 1,373.7 1,393.0 1,403.2 1,423.5 1,456.3 1,477.2 1,489.2 1,500.8 1,536.0 1,554.9
Old-age, survivors, disability, and
health insurance benefits........... 774.2 786.4 796.5 808.4 832.2 844.4 848.5 854.6 909.9 928.2
Government unemployment insurance
benefits............................ 43.0 35.5 33.3 32.3 32.8 30.7 30.2 31.6 27.8 27.0
Other................................ 556.6 571.1 573.5 582.8 591.3 602.1 610.4 614.5 598.3 599.8
Other current transfer receipts, from
business (net)........................ 25.6 23.7 38.4 24.8 31.0 33.0 79.8 39.0 34.5 35.0
Less: Contributions for government social
insurance............................... 810.8 819.8 831.8 843.1 863.6 871.5 888.5 898.9 925.6 938.9
Less: Personal current taxes............... 1,016.0 1,033.4 1,061.6 1,088.2 1,157.9 1,191.8 1,215.0 1,247.6 1,326.0 1,373.2
Equals: Disposable personal income......... 8,481.6 8,607.1 8,706.3 8,931.2 8,890.9 8,969.7 9,047.7 9,236.1 9,321.5 9,439.7
Less: Personal outlays..................... 8,302.7 8,438.7 8,565.1 8,722.3 8,838.5 9,000.4 9,180.3 9,264.5 9,418.5 9,580.7
Personal consumption expenditures........ 8,018.0 8,148.1 8,265.0 8,414.8 8,519.7 8,674.6 8,847.3 8,927.8 9,079.2 9,228.3
Durable goods.......................... 971.5 976.2 990.9 1,006.4 1,013.1 1,042.3 1,057.3 1,019.6 1,064.1 1,060.8
Nondurable goods....................... 2,284.7 2,327.8 2,355.5 2,412.7 2,450.2 2,508.6 2,584.9 2,613.5 2,658.2 2,722.9
Services............................... 4,761.8 4,844.2 4,918.6 4,995.7 5,056.4 5,123.7 5,205.1 5,294.7 5,356.8 5,444.6
Personal interest payments\1\............ 177.3 181.1 189.3 196.2 199.8 208.5 214.6 214.9 218.5 227.7
Personal current transfer payments....... 107.4 109.5 110.7 111.2 119.0 117.3 118.5 121.8 120.9 124.7
To government.......................... 64.7 66.2 67.6 68.9 69.9 71.3 72.7 74.2 75.7 77.3
To the rest of the world (net)......... 42.7 43.3 43.2 42.4 49.0 46.0 45.8 47.6 45.2 47.3
Equals: Personal saving.................... 178.9 168.3 141.2 208.9 52.5 -30.8 -132.6 -28.5 -97.0 -141.0
Personal saving as a percentage of
disposable personal income.............. 2.1 2.0 1.6 2.3 .6 -.3 -1.5 -.3 -1.0 -1.5
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,912.4 7,958.8 8,013.3 8,158.8 8,076.6 8,085.8 8,074.1 8,183.3 8,217.4 8,237.5
Per capita:
Current dollars...................... 28,962 29,322 29,583 30,271 30,073 30,273 30,461 31,020 31,245 31,573
Chained (2000) dollars............... 27,018 27,113 27,228 27,654 27,319 27,290 27,183 27,484 27,544 27,552
Population (midperiod, thousands)\3\..... 292,853 293,539 294,301 295,037 295,643 296,289 297,027 297,748 298,340 298,983
-------------------------------------------------------------------------------------------------------------------------------------
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 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 22.8 27.1 36.1 27.2 59.3 39.8 17.5 25.5 34.6 46.3 72.0 35.5 59.6 51.6
Compensation of employees, received...... 20.6 28.8 23.8 21.4 43.4 25.6 9.2 26.1 22.0 43.2 43.1 -5.6 52.4 30.4
Wage and salary disbursements.......... 12.4 21.2 17.0 15.6 35.2 19.8 5.0 20.6 16.6 36.3 37.1 -8.4 39.6 25.2
Private industries................... .0 16.5 14.3 13.1 31.4 13.1 7.9 20.5 17.5 32.7 35.2 -11.1 28.4 22.0
Goods-producing industries......... -1.6 .3 .2 -3.3 5.3 1.3 -7.9 5.4 7.8 14.4 11.4 -4.7 -5.0 .5
Manufacturing.................... -2.4 1.5 -1.0 -4.1 4.2 .4 -7.0 3.0 5.0 10.5 9.1 -4.7 -7.5 -.8
Services-producing industries...... 1.7 16.2 14.1 16.3 26.2 11.8 15.9 15.0 9.7 18.3 23.8 -6.4 33.4 21.5
Trade, transportation, and
utilities....................... 2.8 4.4 2.6 -1.7 3.0 .6 .5 4.7 2.1 9.7 3.0 -6.1 5.7 4.4
Other services-producing
industries...................... -1.2 11.9 11.5 18.0 23.2 11.2 15.3 10.4 7.5 8.7 20.7 -.1 27.6 17.1
Government........................... 12.4 4.7 2.7 2.5 3.8 6.7 -3.0 .3 -1.0 3.6 1.9 2.7 11.2 3.2
Supplements to wages and salaries...... 8.2 7.6 6.8 5.9 8.0 5.9 4.2 5.4 5.5 6.9 6.1 2.7 12.8 5.2
Employer contributions for employee
pension and insurance funds......... 1.4 5.7 4.8 4.7 5.7 4.1 3.8 4.0 4.0 4.6 3.6 3.6 4.2 3.5
Employer contributions for government
social insurance.................... 6.7 2.0 1.8 1.3 2.4 1.7 .4 1.4 1.5 2.3 2.5 -.9 8.6 1.7
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -.5 -2.8 5.7 6.2 15.9 8.4 5.0 4.1 9.8 .8 7.0 11.7 14.8 9.3
Farm................................... -.1 1.8 2.3 4.7 2.1 1.3 -.3 .4 .3 -.8 .7 1.3 3.2 1.4
Nonfarm................................ -.4 -4.5 3.3 1.5 13.8 7.1 5.3 3.7 9.5 1.6 6.3 10.3 11.7 7.9
Rental income of persons with capital
consumption adjustment.................. 8.3 1.0 -.7 -3.5 -3.1 -3.8 -6.6 -6.6 1.4 18.9 17.1 6.7 -15.0 -2.7
Personal income receipts on assets....... -2.3 1.3 1.5 1.2 3.2 3.2 3.3 -1.3 -3.1 -.7 5.9 8.4 10.2 5.3
Personal interest income............... .0 1.1 .8 -1.8 .9 .6 .2 -5.0 -7.6 -4.7 -1.0 -.4 -3.8 -5.4
Personal dividend income............... -2.4 .2 .7 3.0 2.3 2.6 3.1 3.8 4.4 4.0 6.9 8.8 14.1 10.6
Personal current transfer receipts....... 7.1 2.2 8.9 4.1 4.7 9.4 7.4 5.8 7.3 -11.4 3.6 12.7 12.7 12.6
Government social benefits to persons.. 2.6 2.4 9.1 4.3 4.9 10.0 8.0 6.4 8.2 -10.8 4.7 14.5 15.2 14.4
Old-age, survivors, disability, and
health insurance benefits........... 3.8 1.8 3.1 2.6 6.0 .1 1.0 4.9 1.2 1.8 2.8 9.0 4.9 11.1
Government unemployment insurance
benefits............................ -4.9 .2 4.2 .9 -3.0 5.6 -2.9 -1.5 2.8 -4.3 -.2 .5 -5.2 -3.3
Other................................ 3.7 .4 1.8 .8 1.9 4.3 9.9 3.1 4.1 -8.3 2.1 5.0 15.5 6.5
Other current transfer receipts, from
business (net)........................ 4.6 -.3 -.2 -.2 -.3 -.5 -.6 -.6 -.9 -.6 -1.1 -1.7 -2.6 -1.7
Less: Contributions for government social
insurance............................... 10.4 3.4 3.1 2.3 4.7 3.0 .8 2.7 2.7 4.5 4.8 -1.7 15.5 3.3
Less: Personal current taxes............... -19.2 .4 .2 -6.2 6.7 7.2 -96.0 -45.2 114.1 6.7 7.3 .5 -6.8 4.9
Equals: Disposable personal income......... 42.1 26.6 35.9 33.4 52.6 32.6 113.5 70.6 -79.4 39.6 64.6 35.1 66.4 46.7
Less: Personal outlays..................... 14.3 10.1 58.1 11.8 24.6 51.1 51.3 98.2 -17.2 11.9 56.1 17.6 90.4 26.2
Personal consumption expenditures........ 20.8 10.7 56.7 7.7 22.0 49.6 54.5 97.6 -17.2 8.6 56.2 16.8 92.4 28.2
Durable goods.......................... -22.0 -27.4 14.5 21.3 2.4 7.3 11.1 30.2 -29.4 -4.8 16.5 -10.9 4.8 10.4
Nondurable goods....................... 18.3 21.7 28.0 -30.2 -15.0 32.2 16.1 42.2 2.1 -11.6 15.0 -3.5 39.0 -2.5
Services............................... 24.5 16.3 14.4 16.4 34.8 10.0 27.3 25.2 10.1 25.0 24.7 31.2 48.6 20.2
Personal interest payments\1\............ -4.5 -.9 .9 3.2 2.1 1.2 -1.2 .1 -.4 -2.2 -.7 .4 -2.2 -2.5
Personal current transfer payments....... -2.0 .3 .4 1.0 .4 .4 -1.9 .4 .5 5.5 .5 .5 .1 .5
To government.......................... -.5 .3 .4 .3 .4 .4 .4 .4 .5 .4 .5 .5 .5 .5
To the rest of the world (net)......... -1.5 .0 .0 .7 .0 .0 -2.3 .0 .0 5.1 .0 .0 -.4 .0
Equals: Personal saving.................... 27.7 16.5 -22.2 21.6 28.0 -18.5 62.2 -27.6 -62.2 27.7 8.6 17.4 -24.0 20.5
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 23.3 -10.5 4.3 49.3 56.6 22.6 89.6 41.7 -96.3 35.7 63.5 14.0 30.4 16.6
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 44.0 47.6 62.5 21.2 54.9 49.3 14.0 91.4 29.1 344.7 -240.0 32.5 24.9 48.7
Compensation of employees, received...... 23.7 30.9 43.0 2.2 56.7 29.1 33.1 47.4 9.0 28.7 42.7 17.1 12.0 31.9
Wage and salary disbursements.......... 19.0 25.1 36.2 -1.9 49.0 22.4 26.4 38.5 3.0 21.3 25.8 10.4 5.9 25.9
Private industries................... 13.7 17.3 39.4 -3.3 47.4 19.4 24.1 35.3 1.1 20.5 13.1 7.5 4.4 23.7
Goods-producing industries......... 2.4 6.6 14.1 -1.5 10.1 6.9 3.8 2.4 -1.6 6.9 2.5 1.5 .0 4.0
Manufacturing.................... -1.4 3.5 11.4 -1.6 7.5 4.9 1.9 -.6 -3.6 3.3 .1 -1.8 -3.2 1.3
Services-producing industries...... 11.3 10.7 25.3 -1.8 37.2 12.5 20.4 32.8 2.8 13.6 10.6 5.9 4.5 19.7
Trade, transportation, and
utilities....................... 4.1 8.1 5.5 -.7 8.8 1.9 6.4 3.5 -.4 1.0 1.7 -1.3 1.5 10.7
Other services-producing
industries...................... 7.2 2.6 19.8 -1.1 28.5 10.5 13.9 29.4 3.2 12.6 8.8 7.3 3.0 9.0
Government........................... 5.3 7.8 -3.2 1.4 1.7 2.9 2.3 3.2 1.9 .8 12.7 3.0 1.4 2.1
Supplements to wages and salaries...... 4.7 5.8 6.7 4.2 7.7 6.7 6.8 8.8 5.9 7.5 16.9 6.6 6.2 6.0
Employer contributions for employee
pension and insurance funds......... 3.7 4.5 3.9 4.3 4.4 4.9 5.0 6.0 5.4 5.8 10.3 5.7 5.5 4.2
Employer contributions for government
social insurance.................... 1.0 1.3 2.9 -.3 3.4 1.8 1.7 2.9 .5 1.7 6.7 .9 .6 1.9
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 16.8 9.2 10.4 6.7 .0 -1.7 -5.6 23.2 6.5 9.6 -.7 1.7 6.7 .6
Farm................................... 1.0 .8 -.2 -.9 -3.7 -2.6 -1.7 3.5 -.1 -.3 .8 -.8 -1.3 -3.3
Nonfarm................................ 15.8 8.4 10.7 7.5 3.7 .9 -4.0 19.8 6.7 9.8 -1.5 2.5 8.0 3.9
Rental income of persons with capital
consumption adjustment.................. -2.7 -3.1 -2.4 -2.1 -.9 -6.2 -36.2 38.6 -1.6 -1.8 .1 -3.0 -4.0 -7.7
Personal income receipts on assets....... 5.3 8.4 9.9 10.4 9.1 6.8 6.0 9.1 9.2 307.7 -291.8 7.8 8.7 13.9
Personal interest income............... -4.8 .3 .8 1.2 .4 -1.2 -1.9 .6 3.7 5.5 8.9 6.6 5.5 7.5
Personal dividend income............... 10.2 8.0 9.1 9.1 8.8 8.0 7.8 8.6 5.5 302.2 -300.7 1.1 3.3 6.5
Personal current transfer receipts....... 3.0 5.2 7.0 3.9 -3.3 24.9 20.3 -21.4 7.3 4.2 25.2 11.3 2.8 14.1
Government social benefits to persons.. 3.9 5.4 7.6 4.2 -3.1 9.9 4.3 8.9 6.4 2.8 21.9 9.6 1.5 14.0
Old-age, survivors, disability, and
health insurance benefits........... 3.1 3.0 3.4 3.6 3.0 3.7 3.4 3.8 4.6 4.6 11.3 11.8 .2 6.0
Government unemployment insurance
benefits............................ -4.0 -4.4 1.7 -1.5 -2.0 2.2 -3.5 1.2 .1 -2.1 4.6 -3.6 -1.0 -.3
Other................................ 4.9 6.9 2.3 2.1 -4.0 4.0 4.4 3.9 1.8 .1 6.1 1.3 2.5 8.2
Other current transfer receipts, from
business (net)........................ -1.0 -.3 -.5 -.3 -.2 14.9 16.2 -30.4 .8 1.5 3.3 1.7 1.3 .1
Less: Contributions for government social
insurance............................... 2.1 2.9 5.5 -.2 6.8 3.4 3.8 5.5 1.3 3.6 15.7 2.2 1.5 3.9
Less: Personal current taxes............... 4.5 5.8 8.8 3.2 14.2 8.6 9.6 11.2 5.2 7.9 55.6 6.9 7.6 19.1
Equals: Disposable personal income......... 39.6 41.7 53.6 18.1 40.7 40.7 4.5 80.1 23.9 336.8 -295.6 25.7 17.2 29.7
Less: Personal outlays..................... 62.9 20.3 113.5 -31.9 77.0 14.0 70.4 60.0 41.7 53.2 15.4 52.4 49.5 86.8
Personal consumption expenditures........ 64.6 16.1 109.9 -35.2 74.0 10.8 67.6 57.9 39.2 51.2 7.4 51.3 48.3 85.4
Durable goods.......................... 12.2 -13.0 31.6 -44.9 34.0 -15.3 30.9 -9.0 2.1 23.0 -16.6 4.2 13.1 32.3
Nondurable goods....................... 45.6 -13.3 41.4 -2.6 7.9 .4 22.6 36.8 4.9 5.8 12.6 26.6 5.0 51.4
Services............................... 6.9 42.4 36.9 12.3 32.1 25.7 14.0 30.2 32.3 22.3 11.5 20.4 30.1 1.8
Personal interest payments\1\............ -2.2 3.1 3.1 2.9 2.6 2.7 2.5 2.4 2.0 1.7 1.0 .8 .8 4.0
Personal current transfer payments....... .5 1.1 .5 .5 .3 .5 .4 -.4 .4 .4 7.0 .4 .4 -2.6
To government.......................... .5 .5 .5 .4 .5 .5 .4 .5 .4 .4 .3 .3 .5 .4
To the rest of the world (net)......... .0 .6 .0 .0 -.1 .0 .0 -.8 .0 .0 6.6 .0 .0 -3.0
Equals: Personal saving.................... -23.3 21.4 -59.9 49.9 -36.3 26.9 -66.1 20.2 -17.8 283.6 -311.0 -26.8 -32.2 -57.2
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 9.2 25.9 15.1 -3.6 33.1 30.8 -5.4 33.3 4.6 307.4 -281.5 -.4 -20.1 -1.2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 27.8 53.8 81.7 -184.8 292.6 56.5 19.8 53.7 86.3 31.8 41.6 77.1 41.7 66.5
Compensation of employees, received...... 11.3 32.8 84.9 23.5 41.0 40.9 3.5 37.5 71.5 35.8 28.0 62.7 4.5 45.1
Wage and salary disbursements.......... 5.6 25.7 72.7 16.8 32.9 34.6 -.8 30.7 56.4 29.8 22.4 53.6 .4 38.3
Private industries................... 4.4 24.3 70.2 14.1 29.3 33.0 -3.6 28.4 51.7 26.4 20.7 50.9 -2.3 34.6
Goods-producing industries......... 3.3 5.8 15.4 8.7 .4 8.9 -4.0 5.1 13.9 4.1 2.3 8.3 2.9 6.6
Manufacturing.................... 1.8 1.9 7.8 5.0 -2.1 9.3 -7.3 2.0 10.0 2.6 1.1 4.9 .0 2.2
Services-producing industries...... 1.1 18.6 54.7 5.4 28.8 24.2 .4 23.3 37.8 22.3 18.4 42.6 -5.2 28.1
Trade, transportation, and
utilities....................... -.3 3.5 12.8 -1.3 3.0 4.0 3.8 3.8 2.8 4.7 3.1 10.0 -3.1 7.1
Other services-producing
industries...................... 1.4 15.1 42.0 6.6 25.9 20.1 -3.4 19.5 35.0 17.6 15.2 32.8 -2.2 20.9
Government........................... 1.3 1.4 2.5 2.6 3.7 1.6 2.8 2.3 4.7 3.4 1.7 2.8 2.6 3.7
Supplements to wages and salaries...... 5.7 7.1 12.2 6.8 8.0 6.2 4.3 6.9 15.1 6.0 5.6 9.1 4.1 6.9
Employer contributions for employee
pension and insurance funds......... 4.9 5.3 6.7 5.5 5.9 3.4 4.7 4.9 6.5 4.2 4.1 5.3 4.2 4.4
Employer contributions for government
social insurance.................... .7 1.8 5.5 1.3 2.1 2.9 -.5 2.0 8.6 1.8 1.6 3.7 -.1 2.5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 3.8 14.7 5.0 -56.4 69.0 -1.0 1.9 6.0 5.2 -.9 6.8 -.4 7.5 .6
Farm................................... -.9 -.1 2.1 -2.2 2.0 -1.1 -.5 -.6 -3.5 -.7 -.7 -2.0 -2.3 -.5
Nonfarm................................ 4.7 14.9 2.8 -54.2 67.0 .1 2.4 6.5 8.8 -.2 7.5 1.6 9.8 1.1
Rental income of persons with capital
consumption adjustment.................. -4.5 -3.9 -2.4 -309.4 295.4 -2.2 3.8 -3.4 -2.5 -2.1 .5 -4.0 -4.1 -5.1
Personal income receipts on assets....... 13.8 14.1 9.1 9.1 9.1 19.5 19.0 18.8 1.7 1.3 1.8 22.6 23.1 24.0
Personal interest income............... 9.0 9.2 3.7 3.6 3.6 13.7 13.3 13.1 -2.9 -2.9 -2.9 17.6 17.6 17.6
Personal dividend income............... 4.7 4.8 5.6 5.5 5.4 5.8 5.7 5.7 4.6 4.2 4.8 4.9 5.5 6.4
Personal current transfer receipts....... 4.7 .0 -4.2 151.0 -117.4 5.0 -8.8 -1.3 30.3 2.4 7.6 4.0 11.0 7.0
Government social benefits to persons.. 4.2 -.5 -4.7 22.2 2.6 1.7 1.8 -1.3 31.4 2.4 7.4 3.7 10.9 6.8
Old-age, survivors, disability, and
health insurance benefits........... 1.9 2.4 .9 1.0 1.1 2.0 .6 7.9 41.3 8.9 7.6 2.9 7.1 7.9
Government unemployment insurance
benefits............................ 1.4 -2.7 1.3 .1 -1.3 4.9 -3.8 -.4 -1.5 -1.2 .0 -.4 .0 .0
Other................................ .9 -.2 -6.9 21.2 2.8 -5.3 5.1 -8.9 -8.4 -5.3 -.2 1.2 3.8 -1.2
Other current transfer receipts, from
business (net)........................ .5 .5 .5 128.8 -120.0 3.3 -10.7 .1 -1.1 .1 .1 .2 .2 .2
Less: Contributions for government social
insurance............................... 1.5 3.8 10.7 2.6 4.6 5.4 -.3 4.0 19.9 4.8 3.1 7.8 .2 5.1
Less: Personal current taxes............... 6.9 8.4 7.4 6.4 10.8 12.1 8.7 16.4 51.3 13.9 11.7 25.6 7.1 13.3
Equals: Disposable personal income......... 20.7 45.5 74.3 -191.2 281.9 44.4 11.0 37.3 35.0 17.9 29.9 51.5 34.6 53.2
Less: Personal outlays..................... -5.2 84.6 110.5 -7.1 58.4 31.2 5.0 39.4 78.8 47.3 47.1 64.7 55.6 39.6
Personal consumption expenditures........ -9.8 80.2 109.1 -8.4 57.0 29.1 4.8 39.1 78.9 44.8 44.6 58.4 51.4 35.4
Durable goods.......................... -42.8 46.1 55.9 -72.1 -28.0 -18.1 26.8 15.8 30.7 -14.1 11.2 -2.5 -7.0 3.1
Nondurable goods....................... -12.5 9.4 29.9 36.6 59.8 15.1 -57.9 -.1 61.6 -1.2 10.0 39.6 23.3 9.8
Services............................... 45.5 24.7 23.4 26.9 25.3 32.1 36.0 23.3 -13.4 60.1 23.5 21.2 35.1 22.5
Personal interest payments\1\............ 3.9 4.0 1.2 .9 .8 -.3 -.2 -.2 1.9 1.9 1.9 3.7 3.6 3.7
Personal current transfer payments....... .5 .5 .2 .5 .5 2.3 .5 .5 -1.9 .5 .5 2.7 .6 .5
To government.......................... .5 .5 .4 .5 .5 .5 .5 .5 .5 .5 .6 .5 .5 .6
To the rest of the world (net)......... .0 .0 -.2 .0 .0 1.8 .0 .0 -2.4 .0 .0 2.1 .0 .0
Equals: Personal saving.................... 26.0 -39.1 -36.2 -184.1 223.4 13.3 6.0 -2.0 -43.9 -29.4 -17.1 -13.4 -20.9 13.6
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 15.7 39.9 33.9 -204.6 176.6 21.0 40.9 34.7 -8.4 9.8 -2.3 7.8 -.3 32.1
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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]
-----------------------------------------------------------------------------------------------------------
2002 2003 2004 2005 I 03 II 03 III 03 IV 03
-----------------------------------------------------------------------------------------------------------
Personal income............................ 157.8 281.7 567.8 507.8 72.7 113.1 92.3 137.7
Compensation of employees, received...... 149.1 219.2 354.9 365.0 57.6 84.4 65.4 93.5
Wage and salary disbursements.......... 38.1 131.8 279.4 272.7 36.5 64.1 49.2 76.1
Private industries................... -11.9 93.3 242.0 236.8 18.1 53.4 46.6 71.0
Goods-producing industries......... -33.6 -2.8 42.9 50.5 .0 .9 .9 27.4
Manufacturing.................... -33.3 -6.6 19.1 16.7 -1.2 -1.4 -1.6 19.3
Services-producing industries...... 21.6 96.2 199.1 186.3 18.1 52.5 45.7 43.5
Trade, transportation, and
utilities....................... -1.5 15.2 40.9 38.0 7.5 3.7 5.8 12.6
Other services-producing
industries...................... 23.1 81.0 158.2 148.2 10.6 48.8 40.0 30.9
Government........................... 50.0 38.5 37.4 35.9 18.4 10.7 2.6 5.1
Supplements to wages and salaries...... 111.0 87.4 75.5 92.3 21.1 20.3 16.3 17.3
Employer contributions for employee
pension and insurance funds......... 102.4 70.5 50.5 67.1 11.9 15.0 12.4 12.2
Employer contributions for government
social insurance.................... 8.6 16.9 25.0 25.2 9.1 5.4 3.8 5.1
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -3.5 42.9 99.8 59.6 1.0 22.5 21.9 17.3
Farm................................... -9.1 18.6 7.0 -6.0 3.4 8.7 1.6 .4
Nonfarm................................ 5.6 24.3 92.8 65.5 -2.3 13.8 20.3 16.8
Rental income of persons with capital
consumption adjustment.................. -14.5 -19.9 -6.0 -54.2 8.2 -6.9 -14.2 31.3
Personal income receipts on assets....... -46.8 3.4 91.3 91.5 .6 5.8 4.6 3.6
Personal interest income............... -74.9 -22.0 -23.3 54.2 1.3 -.1 -5.0 -12.2
Personal dividend income............... 28.2 25.4 114.5 37.3 -.6 5.9 9.6 15.8
Personal current transfer receipts....... 92.3 64.8 75.5 100.1 19.9 17.0 21.5 2.1
Government social benefits to persons.. 105.0 67.8 81.7 82.5 16.3 17.8 23.3 4.8
Old-age, survivors, disability, and
health insurance benefits........... 39.0 33.8 50.1 53.5 12.0 9.3 6.7 9.2
Government unemployment insurance
benefits............................ 21.5 -.4 -16.8 -4.7 -2.2 3.7 -.3 -2.9
Other................................ 44.5 34.3 48.5 33.6 6.5 4.8 16.8 -1.4
Other current transfer receipts, from
business (net)........................ -12.7 -3.0 -6.2 17.6 3.5 -.8 -1.7 -2.7
Less: Contributions for government social
insurance............................... 18.9 28.6 47.8 54.2 14.5 9.6 7.1 9.8
Less: Personal current taxes............... -185.5 -50.7 48.7 153.3 -21.1 1.0 -81.1 72.8
Equals: Disposable personal income......... 343.3 332.4 519.1 354.5 93.8 112.1 173.4 65.0
Less: Personal outlays..................... 290.8 342.4 519.5 563.7 84.0 87.3 153.3 76.5
Personal consumption expenditures........ 295.7 352.9 507.9 530.9 95.0 80.3 154.2 72.7
Durable goods.......................... 40.2 18.8 43.6 46.8 -10.0 25.8 27.1 -7.0
Nondurable goods....................... 62.5 110.6 155.0 194.1 49.3 -3.6 61.4 12.7
Services............................... 192.9 223.6 309.3 289.9 55.9 57.9 65.8 67.0
Personal interest payments\1\............ -15.8 -13.9 3.5 23.4 -9.7 5.3 .2 -2.7
Personal current transfer payments....... 11.0 3.3 8.2 9.5 -1.4 1.8 -1.1 6.5
To government.......................... 4.0 3.1 5.5 5.2 .1 1.1 1.2 1.4
To the rest of the world (net)......... 7.0 .2 2.7 4.2 -1.5 .7 -2.3 5.1
Equals: Personal saving.................... 52.4 -9.8 -.6 -209.1 9.8 24.8 20.1 -11.5
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 228.9 167.7 280.9 93.8 32.4 94.0 119.1 32.5
-----------------------------------------------------------------------------------------------------------
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator
for personal consumption expenditures.
Table 4.--Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)--Continued
[Billions of dollars; quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 04 II 04 III 04 IV 04 I 05 II 05 III 05 IV 05 I 06 II 06
---------------------------------------------------------------------------------------------------------------------------
Personal income............................ 156.4 142.8 127.4 251.5 29.4 112.7 101.2 221.0 163.8 165.4
Compensation of employees, received...... 91.1 86.3 102.9 94.8 80.2 64.1 139.9 90.8 130.9 111.3
Wage and salary disbursements.......... 69.5 69.7 83.5 72.7 49.9 45.6 113.9 71.8 103.9 91.5
Private industries................... 51.9 59.0 79.2 65.5 33.5 40.3 107.0 64.3 93.9 83.5
Goods-producing industries......... -3.1 17.2 19.7 8.5 7.5 8.6 26.4 11.0 19.5 15.3
Manufacturing.................... -8.6 9.4 14.1 1.0 -1.2 .4 12.4 5.3 11.0 7.2
Services-producing industries...... 55.2 41.7 59.5 57.0 26.0 31.6 80.7 53.2 74.5 68.2
Trade, transportation, and
utilities....................... 6.9 15.7 13.6 8.5 1.9 12.2 15.1 9.4 10.8 13.9
Other services-producing
industries...................... 48.2 26.0 45.9 48.5 24.2 19.4 65.5 43.8 63.7 54.3
Government........................... 17.6 10.7 4.3 7.3 16.3 5.3 6.9 7.5 10.0 8.0
Supplements to wages and salaries...... 21.6 16.6 19.4 22.0 30.4 18.5 26.0 19.0 27.0 19.8
Employer contributions for employee
pension and insurance funds......... 11.4 12.1 13.5 16.6 21.5 14.9 17.4 14.0 15.5 13.7
Employer contributions for government
social insurance.................... 10.2 4.4 6.0 5.5 8.8 3.6 8.6 5.0 11.5 6.1
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 36.7 32.7 4.9 26.4 11.3 13.0 1.5 29.5 11.5 9.0
Farm................................... 5.6 1.4 -6.6 1.4 -.4 -5.2 1.0 -1.0 -4.8 -4.4
Nonfarm................................ 31.1 31.2 11.6 25.1 11.6 18.2 .6 30.4 16.3 13.4
Rental income of persons with capital
consumption adjustment.................. -7.5 -8.1 -19.3 10.7 -4.9 -15.7 -114.3 93.0 -4.7 -8.8
Personal income receipts on assets....... 23.0 23.7 25.9 124.1 -75.5 36.2 32.2 47.5 22.1 47.6
Personal interest income............... -9.6 -3.8 .1 3.2 20.0 22.5 16.4 30.5 7.4 32.3
Personal dividend income............... 32.7 27.4 25.8 120.9 -95.5 13.7 15.8 17.0 14.7 15.3
Personal current transfer receipts....... 31.7 17.4 25.0 6.7 38.9 22.8 58.9 -29.2 30.6 19.5
Government social benefits to persons.. 37.3 19.3 10.2 20.3 32.8 20.9 12.0 11.6 35.2 18.9
Old-age, survivors, disability, and
health insurance benefits........... 20.3 12.2 10.1 11.9 23.8 12.2 4.1 6.1 55.3 18.3
Government unemployment insurance
benefits............................ -8.4 -7.5 -2.2 -1.0 .5 -2.1 -.5 1.4 -3.8 -.8
Other................................ 25.5 14.5 2.4 9.3 8.5 10.8 8.3 4.1 -16.2 1.5
Other current transfer receipts, from
business (net)........................ -5.6 -1.9 14.7 -13.6 6.2 2.0 46.8 -40.8 -4.5 .5
Less: Contributions for government social
insurance............................... 18.9 9.0 12.0 11.3 20.5 7.9 17.0 10.4 26.7 13.3
Less: Personal current taxes............... .6 17.4 28.2 26.6 69.7 33.9 23.2 32.6 78.4 47.2
Equals: Disposable personal income......... 155.6 125.5 99.2 224.9 -40.3 78.8 78.0 188.4 85.4 118.2
Less: Personal outlays..................... 159.2 136.0 126.4 157.2 116.2 161.9 179.9 84.2 154.0 162.2
Personal consumption expenditures........ 162.7 130.1 116.9 149.8 104.9 154.9 172.7 80.5 151.4 149.1
Durable goods.......................... 14.1 4.7 14.7 15.5 6.7 29.2 15.0 -37.7 44.5 -3.3
Nondurable goods....................... 55.2 43.1 27.7 57.2 37.5 58.4 76.3 28.6 44.7 64.7
Services............................... 93.4 82.4 74.4 77.1 60.7 67.3 81.4 89.6 62.1 87.8
Personal interest payments\1\............ -4.6 3.8 8.2 6.9 3.6 8.7 6.1 .3 3.6 9.2
Personal current transfer payments....... 1.1 2.1 1.2 .5 7.8 -1.7 1.2 3.3 -.9 3.8
To government.......................... 1.5 1.5 1.4 1.3 1.0 1.4 1.4 1.5 1.5 1.6
To the rest of the world (net)......... -.4 .6 -.1 -.8 6.6 -3.0 -.2 1.8 -2.4 2.1
Equals: Personal saving.................... -3.6 -10.6 -27.1 67.7 -156.4 -83.3 -101.8 104.1 -68.5 -44.0
Addendum:
Real disposable personal income, billions
of chained (2000) dollars\2\............ 75.1 46.4 54.5 145.5 -82.2 9.2 -11.7 109.2 34.1 20.1
---------------------------------------------------------------------------------------------------------------------------
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 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------------------------------------------------------
Personal income............................ .3 .3 .4 .3 .7 .4 .2 .3 .4 .5 .8 .4 .6 .5
Compensation of employees, received...... .3 .5 .4 .3 .7 .4 .1 .4 .3 .7 .7 -.1 .8 .5
Wage and salary disbursements.......... .2 .4 .3 .3 .7 .4 .1 .4 .3 .7 .7 -.2 .8 .5
Supplements to wages and salaries...... .7 .7 .6 .5 .7 .5 .4 .5 .5 .6 .5 .2 1.0 .4
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -.1 -.4 .7 .8 2.0 1.0 .6 .5 1.2 .1 .8 1.4 1.7 1.1
Rental income of persons with capital
consumption adjustment.................. 6.4 .7 -.5 -2.5 -2.3 -3.0 -5.2 -5.5 1.2 16.5 12.8 4.5 -9.5 -1.9
Personal income receipts on assets....... -.2 .1 .1 .1 .2 .2 .2 -.1 -.2 -.1 .4 .6 .8 .4
Personal interest income............... .0 .1 .1 -.2 .1 .1 .0 -.5 -.8 -.5 -.1 .0 -.4 -.6
Personal dividend income............... -.6 .0 .2 .7 .6 .6 .7 .9 1.0 .9 1.6 2.0 3.1 2.3
Personal current transfer receipts....... .5 .2 .7 .3 .3 .7 .5 .4 .5 -.8 .3 .9 .9 .9
Less: Contributions for government social
insurance............................... 1.4 .4 .4 .3 .6 .4 .1 .4 .3 .6 .6 -.2 1.9 .4
Less: Personal current taxes............... -1.8 .0 .0 -.6 .7 .7 -9.3 -4.8 12.8 .7 .7 .0 -.7 .5
Equals: Disposable personal income......... .5 .3 .4 .4 .7 .4 1.4 .9 -1.0 .5 .8 .4 .8 .6
Addenda:
Personal consumption expenditures........ .3 .1 .8 .1 .3 .7 .7 1.3 -.2 .1 .7 .2 1.2 .4
Durable goods.......................... -2.3 -3.0 1.6 2.3 .2 .8 1.2 3.2 -3.0 -.5 1.7 -1.1 .5 1.1
Nondurable goods....................... .9 1.0 1.3 -1.4 -.7 1.5 .7 1.9 .1 -.5 .7 -.2 1.7 -.1
Services............................... .6 .4 .3 .4 .8 .2 .6 .6 .2 .5 .5 .7 1.0 .4
----------------------------------------------------------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------------------------------------------------------
Real disposable personal income.......... .3 -.1 .1 .6 .7 .3 1.2 .5 -1.2 .5 .8 .2 .4 .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
[Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------------------------------------------------------
Personal income............................ .5 .5 .7 .2 .6 .5 .1 .9 .3 3.5 -2.3 .3 .2 .5
Compensation of employees, received...... .4 .5 .7 .0 .9 .4 .5 .7 .1 .4 .6 .2 .2 .5
Wage and salary disbursements.......... .4 .5 .7 .0 .9 .4 .5 .7 .1 .4 .5 .2 .1 .5
Supplements to wages and salaries...... .4 .5 .5 .3 .6 .5 .5 .7 .5 .6 1.3 .5 .5 .5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 1.9 1.0 1.2 .7 .0 -.2 -.6 2.6 .7 1.0 -.1 .2 .7 .1
Rental income of persons with capital
consumption adjustment.................. -2.0 -2.2 -1.8 -1.6 -.7 -4.8 -29.5 44.7 -1.3 -1.5 .1 -2.4 -3.3 -6.8
Personal income receipts on assets....... .4 .6 .7 .7 .6 .5 .4 .6 .6 21.4 -16.7 .5 .6 .9
Personal interest income............... -.5 .0 .1 .1 .0 -.1 -.2 .1 .4 .6 1.0 .7 .6 .8
Personal dividend income............... 2.1 1.7 1.8 1.8 1.7 1.6 1.5 1.6 1.0 55.1 -35.3 .2 .6 1.2
Personal current transfer receipts....... .2 .4 .5 .3 -.2 1.8 1.4 -1.5 .5 .3 1.7 .8 .2 .9
Less: Contributions for government social
insurance............................... .3 .4 .7 .0 .8 .4 .4 .7 .1 .4 1.8 .3 .2 .4
Less: Personal current taxes............... .4 .6 .9 .3 1.4 .8 .9 1.0 .5 .7 5.1 .6 .7 1.6
Equals: Disposable personal income......... .5 .5 .6 .2 .5 .5 .1 .9 .3 3.8 -3.2 .3 .2 .3
Addenda:
Personal consumption expenditures........ .8 .2 1.4 -.4 .9 .1 .8 .7 .5 .6 .1 .6 .6 1.0
Durable goods.......................... 1.3 -1.3 3.3 -4.5 3.6 -1.5 3.2 -.9 .2 2.3 -1.6 .4 1.3 3.2
Nondurable goods....................... 2.0 -.6 1.8 -.1 .3 .0 1.0 1.6 .2 .2 .5 1.1 .2 2.1
Services............................... .1 .9 .8 .3 .7 .5 .3 .6 .6 .4 .2 .4 .6 .0
----------------------------------------------------------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------------------------------------------------------
Real disposable personal income.......... .1 .3 .2 .0 .4 .4 -.1 .4 .1 3.8 -3.4 .0 -.2 .0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)--Continued
[Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------------------------------------------------------
Personal income............................ .3 .5 .8 -1.8 2.9 .5 .2 .5 .8 .3 .4 .7 .4 .6
Compensation of employees, received...... .2 .5 1.2 .3 .6 .6 .0 .5 1.0 .5 .4 .9 .1 .6
Wage and salary disbursements.......... .1 .5 1.3 .3 .6 .6 .0 .5 1.0 .5 .4 .9 .0 .6
Supplements to wages and salaries...... .4 .5 .9 .5 .6 .4 .3 .5 1.1 .4 .4 .6 .3 .5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. .4 1.5 .5 -5.7 7.5 -.1 .2 .6 .5 -.1 .7 .0 .7 .1
Rental income of persons with capital
consumption adjustment.................. -4.2 -3.8 -2.4 ..... ..... -2.7 4.8 -4.0 -3.1 -2.6 .7 -5.3 -5.7 -7.4
Personal income receipts on assets....... .9 .9 .6 .6 .6 1.3 1.2 1.2 .1 .1 .1 1.4 1.4 1.5
Personal interest income............... 1.0 1.0 .4 .4 .4 1.4 1.4 1.3 -.3 -.3 -.3 1.8 1.8 1.7
Personal dividend income............... .8 .9 1.0 1.0 .9 1.0 1.0 1.0 .8 .7 .8 .8 .9 1.0
Personal current transfer receipts....... .3 .0 -.3 10.0 -7.1 .3 -.6 -.1 2.0 .2 .5 .3 .7 .4
Less: Contributions for government social
insurance............................... .2 .4 1.2 .3 .5 .6 .0 .4 2.2 .5 .3 .8 .0 .5
Less: Personal current taxes............... .6 .7 .6 .5 .9 1.0 .7 1.3 4.1 1.1 .9 1.9 .5 1.0
Equals: Disposable personal income......... .2 .5 .8 -2.1 3.2 .5 .1 .4 .4 .2 .3 .6 .4 .6
Addenda:
Personal consumption expenditures........ -.1 .9 1.3 -.1 .6 .3 .1 .4 .9 .5 .5 .6 .6 .4
Durable goods.......................... -4.0 4.6 5.3 -6.5 -2.7 -1.8 2.7 1.5 3.0 -1.3 1.1 -.2 -.7 .3
Nondurable goods....................... -.5 .4 1.2 1.4 2.3 .6 -2.2 .0 2.4 .0 .4 1.5 .9 .4
Services............................... .9 .5 .5 .5 .5 .6 .7 .4 -.3 1.1 .4 .4 .6 .4
----------------------------------------------------------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------------------------------------------------------
Real disposable personal income.......... .2 .5 .4 -2.5 2.2 .3 .5 .4 -.1 .1 .0 .1 .0 .4
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------
2002 2003 2004 2005 I 03 II 03 III 03 IV 03
-----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------
Based on current-dollar measures
----------------------------------------------------------------
Personal income............................ 1.8 3.2 6.2 5.2 3.3 5.1 4.1 6.1
Compensation of employees, received...... 2.5 3.6 5.6 5.5 3.8 5.6 4.2 6.0
Wage and salary disbursements.......... .8 2.6 5.5 5.1 3.0 5.2 3.9 6.1
Supplements to wages and salaries...... 11.1 7.9 6.3 7.3 7.6 7.1 5.6 5.9
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. -.5 5.6 12.3 6.5 .5 12.0 11.4 8.6
Rental income of persons with capital
consumption adjustment.................. -8.6 -13.1 -4.5 -42.7 28.0 -18.7 -36.8 159.2
Personal income receipts on assets....... -3.4 .3 6.8 6.4 .2 1.8 1.4 1.1
Personal interest income............... -7.4 -2.3 -2.5 6.1 .5 .0 -2.2 -5.2
Personal dividend income............... 7.7 6.4 27.1 7.0 -.7 5.9 9.6 15.7
Personal current transfer receipts....... 7.7 5.0 5.6 7.0 6.2 5.2 6.6 .6
Less: Contributions for government social
insurance............................... 2.6 3.8 6.1 6.6 8.0 5.1 3.7 5.1
Less: Personal current taxes............... -15.0 -4.8 4.9 14.6 -7.8 .4 -28.1 34.6
Equals: Disposable personal income......... 4.6 4.2 6.4 4.1 4.8 5.7 8.9 3.2
Addenda:
Personal consumption expenditures........ 4.2 4.8 6.6 6.5 5.2 4.3 8.3 3.8
Durable goods.......................... 4.6 2.0 4.6 4.7 -4.3 11.9 12.1 -2.9
Nondurable goods....................... 3.1 5.3 7.1 8.3 9.7 -.7 11.9 2.3
Services............................... 4.6 5.1 6.8 5.9 5.1 5.3 5.9 5.9
----------------------------------------------------------------
Based on chained (2000) dollar measures
----------------------------------------------------------------
Real disposable personal income.......... 3.1 2.2 3.6 1.2 1.7 5.0 6.3 1.7
-----------------------------------------------------------------------------------------------------------
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 04 II 04 III 04 IV 04 I 05 II 05 III 05 IV 05 I 06 II 06
---------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Based on current-dollar measures
--------------------------------------------------------------------------------
Personal income............................ 6.9 6.2 5.4 10.7 1.2 4.6 4.0 8.9 6.4 6.4
Compensation of employees, received...... 5.8 5.4 6.4 5.8 4.8 3.8 8.3 5.2 7.5 6.2
Wage and salary disbursements.......... 5.4 5.4 6.4 5.5 3.7 3.3 8.4 5.1 7.4 6.4
Supplements to wages and salaries...... 7.3 5.4 6.3 7.1 9.6 5.7 7.9 5.6 8.0 5.7
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 18.7 15.7 2.2 12.1 4.8 5.6 .6 12.7 4.7 3.6
Rental income of persons with capital
consumption adjustment.................. -18.9 -21.2 -46.9 43.9 -15.1 -43.3 ..... ..... -21.2 -38.6
Personal income receipts on assets....... 7.0 7.1 7.7 39.9 -18.2 10.3 8.9 13.0 5.7 12.4
Personal interest income............... -4.2 -1.7 .0 1.5 9.3 10.2 7.2 13.5 3.0 13.7
Personal dividend income............... 33.1 25.3 22.3 128.5 -47.2 10.4 11.7 12.2 10.2 10.4
Personal current transfer receipts....... 9.6 5.0 7.3 1.9 11.2 6.3 16.5 -7.3 8.2 5.1
Less: Contributions for government social
insurance............................... 9.9 4.5 6.0 5.5 10.1 3.7 8.0 4.8 12.4 5.9
Less: Personal current taxes............... .3 7.0 11.4 10.4 28.2 12.2 8.0 11.2 27.6 15.0
Equals: Disposable personal income......... 7.7 6.0 4.7 10.7 -1.8 3.6 3.5 8.6 3.8 5.2
Addenda:
Personal consumption expenditures........ 8.5 6.6 5.9 7.4 5.1 7.5 8.2 3.7 7.0 6.7
Durable goods.......................... 6.0 1.9 6.2 6.4 2.7 12.1 5.9 -13.5 18.6 -1.3
Nondurable goods....................... 10.3 7.7 4.9 10.1 6.4 9.9 12.7 4.5 7.0 10.1
Services............................... 8.2 7.1 6.3 6.4 5.0 5.4 6.5 7.1 4.8 6.7
--------------------------------------------------------------------------------
Based on chained (2000) dollar measures
--------------------------------------------------------------------------------
Real disposable personal income.......... 3.9 2.4 2.8 7.5 -4.0 .5 -.6 5.5 1.7 1.0
---------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,188.4 7,192.2 7,168.5 7,194.2 7,218.1 7,245.2 7,284.5 7,319.1 7,388.0 7,351.4 7,358.0 7,413.5 7,411.4 7,468.0 7,468.8
Durable goods............................ 1,001.7 983.1 957.1 974.1 999.9 1,009.1 1,020.5 1,034.9 1,070.6 1,043.3 1,040.7 1,061.3 1,052.1 1,055.5 1,066.3
Nondurable goods......................... 2,059.4 2,068.8 2,066.6 2,082.1 2,074.2 2,075.8 2,102.5 2,110.0 2,134.6 2,124.3 2,122.2 2,143.2 2,131.9 2,156.0 2,141.3
Services................................. 4,132.7 4,143.8 4,145.4 4,140.6 4,149.2 4,165.9 4,168.8 4,182.8 4,195.9 4,193.2 4,203.7 4,220.2 4,236.4 4,265.4 4,271.4
------------------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 49.6 3.8 -23.7 25.7 23.9 27.1 39.3 34.6 68.9 -36.6 6.6 55.5 -2.1 56.6 .8
Durable goods............................ 41.3 -18.6 -26.0 17.0 25.8 9.2 11.4 14.4 35.7 -27.3 -2.6 20.6 -9.2 3.4 10.8
Nondurable goods......................... 5.1 9.4 -2.2 15.5 -7.9 1.6 26.7 7.5 24.6 -10.3 -2.1 21.0 -11.3 24.1 -14.7
Services................................. 6.6 11.1 1.6 -4.8 8.6 16.7 2.9 14.0 13.1 -2.7 10.5 16.5 16.2 29.0 6.0
------------------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .7 .1 -.3 .4 .3 .4 .5 .5 .9 -.5 .1 .8 .0 .8 .0
Durable goods............................ 4.3 -1.9 -2.6 1.8 2.7 .9 1.1 1.4 3.4 -2.5 -.3 2.0 -.9 .3 1.0
Nondurable goods......................... .2 .5 -.1 .7 -.4 .1 1.3 .4 1.2 -.5 -.1 1.0 -.5 1.1 -.7
Services................................. .2 .3 .0 -.1 .2 .4 .1 .3 .3 -.1 .3 .4 .4 .7 .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,502.8 7,505.5 7,574.7 7,522.9 7,587.0 7,590.6 7,643.7 7,658.6 7,678.0 7,724.6 7,720.3 7,744.2 7,753.7 7,803.9
Durable goods............................ 1,079.2 1,064.4 1,099.6 1,050.3 1,090.8 1,078.6 1,112.4 1,099.9 1,102.8 1,128.0 1,107.5 1,114.1 1,128.8 1,165.4
Nondurable goods......................... 2,168.6 2,156.8 2,172.5 2,163.6 2,176.2 2,177.4 2,198.3 2,205.7 2,209.8 2,224.0 2,238.0 2,250.7 2,235.9 2,265.0
Services................................. 4,267.7 4,293.5 4,316.6 4,315.2 4,332.0 4,344.2 4,348.2 4,365.4 4,377.8 4,389.0 4,387.8 4,393.3 4,405.0 4,396.5
----------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 34.0 2.7 69.2 -51.8 64.1 3.6 53.1 14.9 19.4 46.6 -4.3 23.9 9.5 50.2
Durable goods............................ 12.9 -14.8 35.2 -49.3 40.5 -12.2 33.8 -12.5 2.9 25.2 -20.5 6.6 14.7 36.6
Nondurable goods......................... 27.3 -11.8 15.7 -8.9 12.6 1.2 20.9 7.4 4.1 14.2 14.0 12.7 -14.8 29.1
Services................................. -3.7 25.8 23.1 -1.4 16.8 12.2 4.0 17.2 12.4 11.2 -1.2 5.5 11.7 -8.5
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... .5 .0 .9 -.7 .9 .0 .7 .2 .3 .6 -.1 .3 .1 .6
Durable goods............................ 1.2 -1.4 3.3 -4.5 3.9 -1.1 3.1 -1.1 .3 2.3 -1.8 .6 1.3 3.2
Nondurable goods......................... 1.3 -.5 .7 -.4 .6 .1 1.0 .3 .2 .6 .6 .6 -.7 1.3
Services................................. -.1 .6 .5 .0 .4 .3 .1 .4 .3 .3 .0 .1 .3 -.2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,792.2 7,863.3 7,929.6 7,889.2 7,867.2 7,875.3 7,909.6 7,945.8 7,977.5 8,011.3 8,022.6 8,037.4 8,052.4 8,069.3
Durable goods............................ 1,116.4 1,170.7 1,237.4 1,161.1 1,129.2 1,109.6 1,142.2 1,161.8 1,195.2 1,181.0 1,195.2 1,192.0 1,184.3 1,190.8
Nondurable goods......................... 2,263.3 2,277.0 2,281.2 2,289.4 2,292.2 2,312.9 2,305.3 2,310.5 2,343.3 2,346.4 2,338.6 2,347.5 2,351.3 2,358.4
Services................................. 4,425.4 4,438.1 4,446.0 4,458.4 4,459.1 4,461.7 4,476.9 4,491.6 4,465.4 4,505.3 4,512.8 4,520.8 4,537.2 4,541.7
----------------------------------------------------------------------------------------------------------------
Change from preceding period in billions of chained (2000) dollars,
seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... -11.7 71.1 66.3 -40.4 -22.0 8.1 34.3 36.2 31.7 33.8 11.3 14.8 15.0 16.9
Durable goods............................ -49.0 54.3 66.7 -76.3 -31.9 -19.6 32.6 19.6 33.4 -14.2 14.2 -3.2 -7.7 6.5
Nondurable goods......................... -1.7 13.7 4.2 8.2 2.8 20.7 -7.6 5.2 32.8 3.1 -7.8 8.9 3.8 7.1
Services................................. 28.9 12.7 7.9 12.4 .7 2.6 15.2 14.7 -26.2 39.9 7.5 8.0 16.4 4.5
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period in chained (2000) dollars,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.......... -.1 .9 .8 -.5 -.3 .1 .4 .5 .4 .4 .1 .2 .2 .2
Durable goods............................ -4.2 4.9 5.7 -6.2 -2.7 -1.7 2.9 1.7 2.9 -1.2 1.2 -.3 -.6 .5
Nondurable goods......................... -.1 .6 .2 .4 .1 .9 -.3 .2 1.4 .1 -.3 .4 .2 .3
Services................................. .7 .3 .2 .3 .0 .1 .3 .3 -.6 .9 .2 .2 .4 .1
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
[Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------
2002 2003 2004 2005 IV 02 I 03 II 03 III 03 IV 03
-------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------
Billions of chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 7,099.3 7,295.3 7,577.1 7,841.2 7,148.2 7,184.9 7,249.3 7,352.9 7,394.3
Durable goods............................ 964.8 1,020.6 1,085.7 1,145.3 970.4 971.4 1,009.8 1,049.6 1,051.4
Nondurable goods......................... 2,037.1 2,103.0 2,179.2 2,276.8 2,053.1 2,072.5 2,084.2 2,123.0 2,132.5
Services................................. 4,100.4 4,178.8 4,323.9 4,436.6 4,127.4 4,143.3 4,161.3 4,190.7 4,220.2
------------------------------------------------------------------------
Change from preceding period in
billions of chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 188.9 196.0 281.8 264.1 25.0 36.7 64.4 103.6 41.4
Durable goods............................ 64.1 55.8 65.1 59.6 -13.0 1.0 38.4 39.8 1.8
Nondurable goods......................... 50.4 65.9 76.2 97.6 18.1 19.4 11.7 38.8 9.5
Services................................. 77.2 78.4 145.1 112.7 18.4 15.9 18.0 29.4 29.5
------------------------------------------------------------------------
Percent change from preceding period
in chained (2000) dollars
------------------------------------------------------------------------
Personal consumption expenditures.......... 2.7 2.8 3.9 3.5 1.4 2.1 3.6 5.8 2.3
Durable goods............................ 7.1 5.8 6.4 5.5 -5.2 .4 16.8 16.7 .7
Nondurable goods......................... 2.5 3.2 3.6 4.5 3.6 3.8 2.3 7.7 1.8
Services................................. 1.9 1.9 3.5 2.6 1.8 1.5 1.8 2.9 2.8
-------------------------------------------------------------------------------------------------------------------
Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)--Continued
[Quarters seasonally adjusted at annual rates]
---------------------------------------------------------------------------------------------------------------------------
I 04 II 04 III 04 IV 04 I 05 II 05 III 05 IV 05 I 06 II 06
---------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Billions of chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 7,479.8 7,534.4 7,607.1 7,687.1 7,739.4 7,819.8 7,895.3 7,910.2 8,003.8 8,053.0
Durable goods............................ 1,067.0 1,071.4 1,093.9 1,110.3 1,116.8 1,150.8 1,175.9 1,137.9 1,190.5 1,189.1
Nondurable goods......................... 2,155.3 2,164.3 2,184.0 2,213.1 2,241.5 2,268.4 2,287.6 2,309.6 2,342.8 2,352.4
Services................................. 4,268.2 4,308.4 4,341.5 4,377.4 4,395.3 4,420.0 4,454.5 4,476.7 4,494.5 4,533.2
--------------------------------------------------------------------------------
Change from preceding period in
billions of chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 85.5 54.6 72.7 80.0 52.3 80.4 75.5 14.9 93.6 49.2
Durable goods............................ 15.6 4.4 22.5 16.4 6.5 34.0 25.1 -38.0 52.6 -1.4
Nondurable goods......................... 22.8 9.0 19.7 29.1 28.4 26.9 19.2 22.0 33.2 9.6
Services................................. 48.0 40.2 33.1 35.9 17.9 24.7 34.5 22.2 17.8 38.7
--------------------------------------------------------------------------------
Percent change from preceding period
in chained (2000) dollars
--------------------------------------------------------------------------------
Personal consumption expenditures.......... 4.7 2.9 3.9 4.3 2.7 4.2 3.9 .8 4.8 2.5
Durable goods............................ 6.1 1.7 8.7 6.1 2.4 12.8 9.0 -12.3 19.8 -.5
Nondurable goods......................... 4.3 1.7 3.7 5.4 5.2 4.9 3.4 3.9 5.9 1.7
Services................................. 4.6 3.8 3.1 3.4 1.6 2.3 3.2 2.0 1.6 3.5
---------------------------------------------------------------------------------------------------------------------------
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 104.357 104.591 105.085 105.500 105.256 105.167 105.281 105.529 105.866 106.158 106.180 106.144 106.401 106.833 107.199
Durable goods............................ 94.506 94.054 93.745 93.586 93.301 92.681 92.373 92.153 91.902 91.489 91.259 91.047 90.806 90.987 91.049
Nondurable goods......................... 102.794 103.213 104.374 104.940 103.887 103.080 103.301 103.700 104.484 105.087 104.645 104.321 104.707 105.352 105.960
Services................................. 107.380 107.685 108.036 108.508 108.682 109.081 109.244 109.531 109.791 110.102 110.421 110.574 110.890 111.275 111.593
Addenda:
PCE excluding food and energy............ 104.378 104.474 104.582 104.710 104.808 104.943 105.014 105.251 105.394 105.508 105.704 105.777 105.938 106.218 106.436
Market-based PCE\1\...................... 103.870 104.106 104.615 105.036 104.740 104.587 104.683 104.927 105.256 105.532 105.496 105.365 105.593 105.992 106.329
Market-based PCE excluding food
and energy\1\........................... 103.766 103.837 103.885 103.962 104.064 104.164 104.205 104.436 104.530 104.587 104.745 104.721 104.826 105.033 105.184
------------------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
PCE........................................ .1 .2 .5 .4 -.2 -.1 .1 .2 .3 .3 .0 .0 .2 .4 .3
Durable goods............................ -.5 -.5 -.3 -.2 -.3 -.7 -.3 -.2 -.3 -.4 -.3 -.2 -.3 .2 .1
Nondurable goods......................... .0 .4 1.1 .5 -1.0 -.8 .2 .4 .8 .6 -.4 -.3 .4 .6 .6
Services................................. .2 .3 .3 .4 .2 .4 .1 .3 .2 .3 .3 .1 .3 .3 .3
Addenda:
PCE excluding food and energy............ .1 .1 .1 .1 .1 .1 .1 .2 .1 .1 .2 .1 .2 .3 .2
Market-based PCE\1\...................... .1 .2 .5 .4 -.3 -.1 .1 .2 .3 .3 .0 -.1 .2 .4 .3
Market-based PCE excluding food
and energy\1\........................... .0 .1 .0 .1 .1 .1 .0 .2 .1 .1 .2 .0 .1 .2 .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 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 107.575 107.750 108.219 108.495 108.555 108.645 108.774 109.319 109.554 109.555 109.713 110.036 110.524 110.908
Durable goods............................ 91.094 91.129 91.089 91.097 90.829 90.441 90.474 90.675 90.628 90.644 90.824 90.664 90.638 90.562
Nondurable goods......................... 106.728 106.696 107.833 108.156 107.890 107.851 107.854 109.162 109.180 108.748 108.629 109.196 110.149 111.002
Services................................. 111.852 112.166 112.424 112.742 113.048 113.322 113.539 113.784 114.199 114.416 114.710 115.029 115.408 115.671
Addenda:
PCE excluding food and energy............ 106.699 106.924 107.099 107.294 107.420 107.520 107.705 107.977 108.196 108.279 108.571 108.760 109.031 109.119
Market-based PCE\1\...................... 106.695 106.817 107.293 107.557 107.573 107.617 107.687 108.253 108.466 108.436 108.579 108.892 109.391 109.808
Market-based PCE excluding food
and energy\1\........................... 105.413 105.580 105.706 105.868 105.953 105.997 106.119 106.361 106.551 106.611 106.910 107.060 107.301 107.371
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
PCE........................................ .4 .2 .4 .3 .1 .1 .1 .5 .2 .0 .1 .3 .4 .3
Durable goods............................ .0 .0 .0 .0 -.3 -.4 .0 .2 -.1 .0 .2 -.2 .0 -.1
Nondurable goods......................... .7 .0 1.1 .3 -.2 .0 .0 1.2 .0 -.4 -.1 .5 .9 .8
Services................................. .2 .3 .2 .3 .3 .2 .2 .2 .4 .2 .3 .3 .3 .2
Addenda:
PCE excluding food and energy............ .2 .2 .2 .2 .1 .1 .2 .3 .2 .1 .3 .2 .2 .1
Market-based PCE\1\...................... .3 .1 .4 .2 .0 .0 .1 .5 .2 .0 .1 .3 .5 .4
Market-based PCE excluding food
and energy\1\........................... .2 .2 .1 .2 .1 .0 .1 .2 .2 .1 .3 .1 .2 .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
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Chain-type price indexes (2000=100),
seasonally adjusted
----------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 110.948 110.964 111.412 111.875 112.912 113.167 112.737 112.715 113.258 113.340 113.737 114.253 114.678 114.877
Durable goods............................ 90.708 90.439 90.085 89.790 89.850 89.805 89.579 89.432 89.501 89.389 89.264 89.292 89.280 89.052
Nondurable goods......................... 110.530 110.280 111.389 112.594 115.064 114.689 112.548 112.294 113.351 113.150 113.953 115.209 116.014 116.080
Services................................. 115.946 116.169 116.489 116.770 117.317 117.968 118.371 118.505 118.900 119.180 119.502 119.759 120.100 120.479
Addenda:
PCE excluding food and energy............ 109.347 109.429 109.549 109.693 109.954 110.237 110.442 110.574 110.758 110.928 111.264 111.514 111.771 112.038
Market-based PCE\1\...................... 109.806 109.790 110.267 110.748 111.842 112.037 111.482 111.423 111.971 111.988 112.390 112.933 113.380 113.522
Market-based PCE excluding food
and energy\1\........................... 107.582 107.638 107.730 107.829 108.004 108.217 108.397 108.512 108.629 108.735 109.065 109.294 109.544 109.754
----------------------------------------------------------------------------------------------------------------
Percent change from preceding period price indexes,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
PCE........................................ .0 .0 .4 .4 .9 .2 -.4 .0 .5 .1 .4 .5 .4 .2
Durable goods............................ .2 -.3 -.4 -.3 .1 -.1 -.3 -.2 .1 -.1 -.1 .0 .0 -.3
Nondurable goods......................... -.4 -.2 1.0 1.1 2.2 -.3 -1.9 -.2 .9 -.2 .7 1.1 .7 .1
Services................................. .2 .2 .3 .2 .5 .6 .3 .1 .3 .2 .3 .2 .3 .3
Addenda:
PCE excluding food and energy............ .2 .1 .1 .1 .2 .3 .2 .1 .2 .2 .3 .2 .2 .2
Market-based PCE\1\...................... .0 .0 .4 .4 1.0 .2 -.5 -.1 .5 .0 .4 .5 .4 .1
Market-based PCE excluding food
and energy\1\........................... .2 .1 .1 .1 .2 .2 .2 .1 .1 .1 .3 .2 .2 .2
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 2.7 .9 .4 .4 .9 1.5 1.6 3.1 4.0 2.8 3.2 4.0 3.9 4.0 4.3
Personal consumption expenditures.......... 2.6 2.4 1.6 2.1 1.8 2.6 2.6 2.5 3.5 3.6 3.4 3.8 3.1 3.8 4.2
Durable goods............................ 9.4 4.8 -.2 2.7 2.3 7.8 6.6 4.8 6.7 8.8 9.6 10.5 5.0 7.4 11.4
Nondurable goods......................... 1.6 2.1 1.9 2.8 2.1 2.5 2.9 3.4 5.0 4.5 3.7 4.3 3.5 4.2 3.6
Services................................. 1.7 2.1 1.8 1.6 1.5 1.6 1.7 1.6 2.2 2.1 1.9 2.3 2.5 2.9 3.0
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Mar 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 4.4 4.0 3.5 3.1 2.4 2.2 3.4 3.4 2.6 6.3 2.3 2.1 1.8 1.4
Personal consumption expenditures.......... 4.3 4.0 4.5 3.3 3.7 2.7 4.0 4.1 3.6 4.2 3.4 3.7 3.3 4.0
Durable goods............................ 10.8 6.5 9.0 2.9 5.4 .7 6.6 5.7 3.9 7.2 4.9 4.5 4.6 9.5
Nondurable goods......................... 4.2 4.0 4.7 2.9 3.1 2.0 3.5 3.9 3.1 4.3 3.8 5.1 3.1 5.0
Services................................. 3.1 3.5 3.6 3.5 3.6 3.5 3.7 3.8 3.7 3.6 2.9 2.9 3.2 2.4
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Table 10.--Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago--Continued
-----------------------------------------------------------------------------------------------------------------------------------------------------------
May 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income................. 1.4 2.0 2.0 -1.0 1.3 1.1 1.6 -1.7 1.6 1.7 1.9 2.0 1.8 1.7
Personal consumption expenditures.......... 2.9 4.5 4.5 3.9 2.9 2.8 3.0 2.9 3.3 3.4 3.5 3.0 3.3 2.6
Durable goods............................ 1.5 11.5 13.4 7.6 1.5 .9 3.6 3.0 7.9 6.0 5.9 2.3 6.1 1.7
Nondurable goods......................... 4.2 5.2 4.8 5.1 4.3 4.9 4.3 3.9 4.7 4.3 4.6 3.6 3.9 3.6
Services................................. 2.5 2.8 2.6 2.6 2.5 2.2 2.3 2.3 1.8 2.5 2.4 2.8 2.5 2.3
-----------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Table 11.--Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Dec 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 2.0 2.1 2.4 2.5 1.8 1.8 1.8 1.8 1.9 2.0 1.9 1.8 2.0 2.1 2.0
Durable goods............................ -2.8 -3.0 -2.7 -2.7 -3.0 -3.6 -3.6 -3.7 -3.8 -4.2 -4.3 -4.1 -3.9 -3.3 -2.9
Nondurable goods......................... 2.6 2.7 3.6 3.5 1.3 1.0 1.1 1.4 1.9 2.4 1.9 1.5 1.9 2.1 1.5
Services................................. 2.7 2.9 2.9 3.2 3.1 3.3 3.2 3.2 3.2 3.2 3.3 3.2 3.3 3.3 3.3
Addenda:
PCE excluding food and energy............ 1.6 1.6 1.5 1.5 1.3 1.4 1.4 1.4 1.3 1.3 1.4 1.4 1.5 1.7 1.8
Market-based PCE\1\...................... 1.9 2.0 2.4 2.5 1.7 1.6 1.7 1.7 1.8 1.9 1.7 1.5 1.7 1.8 1.6
Market-based PCE excluding food
and energy\1\........................... 1.3 1.4 1.3 1.3 1.1 1.2 1.1 1.2 1.1 .9 1.1 1.0 1.0 1.2 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 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 2.0 2.4 2.9 3.1 2.9 2.6 2.5 3.0 3.2 3.0 2.7 2.6 2.7 2.9
Durable goods............................ -2.7 -2.3 -1.7 -1.4 -1.4 -1.6 -1.1 -.6 -.5 -.2 -.2 -.4 -.5 -.6
Nondurable goods......................... 1.7 2.7 4.6 4.7 4.0 3.2 2.6 4.3 4.7 3.9 3.1 3.1 3.2 4.0
Services................................. 3.1 3.2 3.1 3.2 3.2 3.2 3.1 3.0 3.3 3.2 3.1 3.1 3.2 3.1
Addenda:
PCE excluding food and energy............ 1.9 2.0 2.1 2.2 2.1 2.0 2.1 2.2 2.3 2.2 2.2 2.2 2.2 2.1
Market-based PCE\1\...................... 1.6 2.0 2.6 2.7 2.5 2.2 2.0 2.6 2.9 2.7 2.4 2.4 2.5 2.8
Market-based PCE excluding food
and energy\1\........................... 1.4 1.5 1.5 1.6 1.5 1.4 1.5 1.5 1.7 1.7 1.8 1.8 1.8 1.7
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Jun 06\p\
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE).... 2.5 2.3 2.6 3.0 3.8 3.5 2.9 2.9 3.2 3.0 2.9 3.0 3.4 3.5
Durable goods............................ -.4 -.7 -.8 -.7 -.7 -1.0 -1.2 -1.3 -1.5 -1.4 -1.5 -1.4 -1.6 -1.5
Nondurable goods......................... 2.5 2.0 3.2 4.4 6.7 5.1 3.1 3.3 4.3 3.6 3.5 3.8 5.0 5.3
Services................................. 3.1 3.0 3.0 3.0 3.3 3.7 3.7 3.6 3.7 3.6 3.5 3.5 3.6 3.7
Addenda:
PCE excluding food and energy............ 2.1 2.0 2.0 2.0 2.1 2.1 2.1 2.1 2.0 2.0 2.0 2.2 2.2 2.4
Market-based PCE\1\...................... 2.3 2.1 2.5 2.9 3.9 3.5 2.8 2.8 3.1 2.8 2.7 2.8 3.3 3.4
Market-based PCE excluding food
and energy\1\........................... 1.8 1.7 1.7 1.7 1.8 1.7 1.7 1.8 1.6 1.6 1.6 1.8 1.8 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 12.--Revisions to Personal Income and Its Disposition
-------------------------------------------------------------------------------------------------------------------------------------
Billions of dollars
------------------------ ------------------------ Revisions as a
Revised Revisions to percentage of
estimates previously previously
published published
------------------------ ------------------------ ------------------------
2003 2004 2005 2003 2004 2005 2003 2004 2005
-------------------------------------------------------------------------------------------------------------------------------------
Personal income............................ 9,163.6 9,731.4 10,239.2 -5.5 18.1 1.5 -.1 .2 .0
Compensation of employees, received...... 6,310.4 6,665.3 7,030.3 -10.7 -22.3 -82.8 -.2 -.3 -1.2
Wage and salary disbursements.......... 5,112.7 5,392.1 5,664.8 1.6 2.7 -47.5 .0 .1 -.8
Private industries................... 4,208.3 4,450.3 4,687.1 .5 .3 -53.6 .0 .0 -1.1
Goods-producing industries......... 1,007.9 1,050.8 1,101.3 .7 .9 -16.1 .1 .1 -1.4
Manufacturing.................... 668.9 688.0 704.7 .2 .3 -15.3 .0 .0 -2.1
Services-producing industries...... 3,200.4 3,399.5 3,585.8 -.2 -.6 -37.5 .0 .0 -1.0
Trade, transportation, and
utilities....................... 858.3 899.2 937.2 -.3 -.5 -16.7 .0 -.1 -1.8
Other services-producing
industries...................... 2,342.1 2,500.3 2,648.5 .1 -.1 -21.0 .0 .0 -.8
Government........................... 904.4 941.8 977.7 1.1 2.3 6.1 .1 .2 .6
Supplements to wages and salaries...... 1,197.7 1,273.2 1,365.5 -12.3 -24.9 -35.3 -1.0 -1.9 -2.5
Employer contributions for employee
pension and insurance funds......... 815.6 866.1 933.2 -14.4 -29.4 -41.8 -1.7 -3.3 -4.3
Employer contributions for government
social insurance.................... 382.1 407.1 432.3 2.1 4.4 6.5 .6 1.1 1.5
Proprietors' income with inventory
valuation and capital consumption
adjustments............................. 811.3 911.1 970.7 1.1 21.5 32.0 .1 2.4 3.4
Farm................................... 29.2 36.2 30.2 1.5 .4 9.4 5.4 1.1 45.2
Nonfarm................................ 782.1 874.9 940.4 -.3 21.1 22.6 .0 2.5 2.5
Rental income of persons with capital
consumption adjustment.................. 133.0 127.0 72.8 1.3 -7.2 -.1 1.0 -5.4 -.1
Personal income receipts on assets....... 1,336.6 1,427.9 1,519.4 -2.1 31.4 62.0 -.2 2.2 4.3
Personal interest income............... 914.1 890.8 945.0 -3.5 -15.1 -.7 -.4 -1.7 -.1
Personal dividend income............... 422.6 537.1 574.4 1.5 46.5 62.7 .4 9.5 12.3
Personal current transfer receipts....... 1,351.0 1,426.5 1,526.6 7.0 -1.0 1.3 .5 -.1 .1
Government social benefits to persons.. 1,316.7 1,398.4 1,480.9 3.2 3.9 -2.8 .2 .3 -.2
Old-age, survivors, disability, and
health insurance benefits........... 741.3 791.4 844.9 2.0 2.1 .2 .3 .3 .0
Government unemployment insurance
benefits............................ 52.8 36.0 31.3 .0 .0 2.4 .0 .0 8.3
Other................................ 522.5 571.0 604.6 1.1 1.8 -5.5 .2 .3 -.9
Other current transfer receipts, from
business (net)........................ 34.3 28.1 45.7 3.8 -4.9 4.1 12.5 -14.8 9.9
Less: Contributions for government social
insurance............................... 778.6 826.4 880.6 2.0 4.2 10.9 .3 .5 1.3
Less: Personal current taxes............... 1,001.1 1,049.8 1,203.1 1.2 .7 -4.6 .1 .1 -.4
Equals: Disposable personal income......... 8,162.5 8,681.6 9,036.1 -6.7 17.4 6.2 -.1 .2 .1
Less: Personal outlays..................... 7,987.7 8,507.2 9,070.9 -8.6 -5.3 -1.2 -.1 -.1 .0
Personal consumption expenditures........ 7,703.6 8,211.5 8,742.4 -6.3 -2.8 -3.3 -.1 .0 .0
Durable goods.......................... 942.7 986.3 1,033.1 -7.4 -1.5 6.6 -.8 -.2 .6
Nondurable goods....................... 2,190.2 2,345.2 2,539.3 1.2 -23.1 -25.1 .1 -1.0 -1.0
Services............................... 4,570.8 4,880.1 5,170.0 .0 21.9 15.1 .0 .5 .3
Personal interest payments\1\............ 182.5 186.0 209.4 -.7 -.7 3.5 -.4 -.4 1.7
Personal current transfer payments....... 101.5 109.7 119.2 -1.8 -1.8 -1.2 -1.7 -1.6 -1.0
To government.......................... 61.3 66.8 72.0 -.8 -1.8 -2.8 -1.3 -2.6 -3.7
To the rest of the world (net)......... 40.2 42.9 47.1 -1.0 .0 1.5 -2.4 .0 3.3
Equals: Personal saving.................... 174.9 174.3 -34.8 2.1 22.5 7.3 ..... ..... .....
Personal saving as a percentage of
disposable personal income.............. 2.1 2.0 -.4 .0 .2 .1 ..... ..... .....
Addenda:
Disposable personal income:
Total, billions of chained (2000)
dollars\2\............................ 7,729.9 8,010.8 8,104.6 -11.9 6.5 -7.6 -.2 .1 -.1
Per capita:
Current dollars...................... 28,039 29,536 30,458 -23 59 21 -.1 .2 .1
Chained (2000) dollars............... 26,553 27,254 27,318 -41 22 -26 -.2 .1 -.1
Population (midperiod, thousands)\3\..... 291,114 293,933 296,677 .0 .0 .0 .0 .0 .0
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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 02 Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Jan 04 Feb 04
------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
------------------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 24.5 22.8 27.1 36.1 27.2 59.3 39.8 17.5 25.5 34.6 46.3 72.0 35.5 59.6 51.6
Previously published............ 24.5 31.0 35.2 41.7 14.7 56.6 38.9 24.8 26.0 29.5 28.0 67.7 35.4 61.1 52.0
Disposable personal income........ 26.6 42.1 26.6 35.9 33.4 52.6 32.6 113.5 70.6 -79.4 39.6 64.6 35.1 66.4 46.7
Previously published............ 26.6 49.0 34.4 41.2 19.2 50.0 32.6 123.6 72.7 -82.8 24.8 61.3 35.2 67.7 45.7
Personal consumption expenditures. 57.7 20.8 10.7 56.7 7.7 22.0 49.6 54.5 97.6 -17.2 8.6 56.2 16.8 92.4 28.2
Previously published............ 57.7 22.1 16.5 62.3 3.6 15.7 57.3 35.7 105.3 -7.0 -.2 57.8 46.4 80.3 19.5
Personal saving as a percentage
of disposable personal income...... 1.5 1.8 2.0 1.7 2.0 2.3 2.1 2.8 2.5 1.7 2.1 2.2 2.4 2.1 2.3
Previously published.............. 1.5 1.9 2.1 1.8 2.0 2.3 2.0 3.1 2.6 1.7 2.0 2.0 1.9 1.7 2.1
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Personal income..................... .3 .3 .3 .4 .3 .7 .4 .2 .3 .4 .5 .8 .4 .6 .5
Previously published.............. .3 .3 .4 .5 .2 .6 .4 .3 .3 .3 .3 .7 .4 .7 .6
Disposable personal income.......... .3 .5 .3 .4 .4 .7 .4 1.4 .9 -1.0 .5 .8 .4 .8 .6
Previously published.............. .3 .6 .4 .5 .2 .6 .4 1.5 .9 -1.0 .3 .7 .4 .8 .5
Personal consumption expenditures... .8 .3 .1 .8 .1 .3 .7 .7 1.3 -.2 .1 .7 .2 1.2 .4
Previously published.............. .8 .3 .2 .8 .0 .2 .8 .5 1.4 -.1 .0 .7 .6 1.0 .2
------------------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
------------------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .3 .3 -.1 .1 .6 .7 .3 1.2 .5 -1.2 .5 .8 .2 .4 .2
Previously published.............. .3 .4 .0 .1 .5 .7 .3 1.3 .6 -1.3 .3 .8 .2 .3 .2
Real personal consumption
expenditures....................... .7 .1 -.3 .4 .3 .4 .5 .5 .9 -.5 .1 .8 .0 .8 .0
Previously published.............. .7 .1 -.2 .4 .3 .3 .7 .3 1.1 -.4 .0 .8 .4 .5 -.1
------------------------------------------------------------------------------------------------------------------------------------------------------------
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
----------------------------------------------------------------------------------------------------------------------------------------------------
Mar 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Sep 04 Oct 04 Nov 04 Dec 04 Jan 05 Feb 05 Mar 05 Apr 05
----------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
----------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 44.0 47.6 62.5 21.2 54.9 49.3 14.0 91.4 29.1 344.7 -240.0 32.5 24.9 48.7
Previously published............ 42.8 41.1 56.5 14.5 46.2 50.8 19.2 99.4 66.5 366.1 -265.8 47.7 49.1 23.1
Disposable personal income........ 39.6 41.7 53.6 18.1 40.7 40.7 4.5 80.1 23.9 336.8 -295.6 25.7 17.2 29.7
Previously published............ 36.7 30.4 46.6 11.5 36.6 42.1 8.1 88.1 52.5 351.2 -319.8 39.1 40.8 6.8
Personal consumption expenditures. 64.6 16.1 109.9 -35.2 74.0 10.8 67.6 57.9 39.2 51.2 7.4 51.3 48.3 85.4
Previously published............ 66.5 -6.5 110.1 -13.1 70.6 6.0 44.9 75.9 38.8 57.8 15.5 58.5 41.0 64.0
Personal saving as a percentage
of disposable personal income...... 2.0 2.2 1.5 2.1 1.7 2.0 1.2 1.4 1.2 4.3 .9 .6 .2 -.4
Previously published.............. 1.7 2.1 1.3 1.5 1.1 1.5 1.0 1.1 1.3 4.4 .7 .5 .4 -.2
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Personal income..................... .5 .5 .7 .2 .6 .5 .1 .9 .3 3.5 -2.3 .3 .2 .5
Previously published.............. .5 .4 .6 .2 .5 .5 .2 1.0 .7 3.7 -2.6 .5 .5 .2
Disposable personal income.......... .5 .5 .6 .2 .5 .5 .1 .9 .3 3.8 -3.2 .3 .2 .3
Previously published.............. .4 .4 .5 .1 .4 .5 .1 1.0 .6 4.0 -3.5 .4 .5 .1
Personal consumption expenditures... .8 .2 1.4 -.4 .9 .1 .8 .7 .5 .6 .1 .6 .6 1.0
Previously published.............. .8 -.1 1.4 -.2 .9 .1 .5 .9 .5 .7 .2 .7 .5 .7
----------------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
----------------------------------------------------------------------------------------------------------------
Real disposable personal income..... .1 .3 .2 .0 .4 .4 -.1 .4 .1 3.8 -3.4 .0 -.2 .0
Previously published.............. .1 .2 .1 -.1 .5 .4 .0 .5 .3 4.0 -3.6 .2 .0 -.3
Real personal consumption
expenditures....................... .5 .0 .9 -.7 .9 .0 .7 .2 .3 .6 -.1 .3 .1 .6
Previously published.............. .5 -.3 .9 -.4 .9 .0 .4 .4 .2 .7 .0 .4 .1 .3
----------------------------------------------------------------------------------------------------------------------------------------------------
Table 13.--Changes in Personal Income and Related Measures: Comparisons with Previously Published Estimates (Months)--Continued
--------------------------------------------------------------------------------------------------------------------------------------------
May 05 Jun 05 Jul 05 Aug 05 Sep 05 Oct 05 Nov 05 Dec 05 Jan 06 Feb 06 Mar 06 Apr 06 May 06
--------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
Seasonally adjusted at annual rates
--------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 27.8 53.8 81.7 -184.8 292.6 56.5 19.8 53.7 86.3 31.8 41.6 77.1 41.7
Previously published............ 35.5 50.9 52.4 -205.6 310.8 19.9 22.2 51.9 63.1 33.5 39.2 76.2 38.3
Disposable personal income........ 20.7 45.5 74.3 -191.2 281.9 44.4 11.0 37.3 35.0 17.9 29.9 51.5 34.6
Previously published............ 25.6 40.8 51.3 -207.5 305.1 15.2 20.3 44.9 19.2 22.7 29.4 52.4 31.6
Personal consumption expenditures. -9.8 80.2 109.1 -8.4 57.0 29.1 4.8 39.1 78.9 44.8 44.6 58.4 51.4
Previously published............ .6 90.1 120.7 -38.9 35.7 22.5 41.8 63.0 71.2 20.4 44.3 65.3 40.3
Personal saving as a percentage
of disposable personal income...... -.1 -.5 -.9 -3.0 -.5 -.3 -.3 -.3 -.8 -1.1 -1.3 -1.4 -1.6
Previously published.............. .0 -.6 -1.3 -3.3 -.2 -.3 -.6 -.8 -1.3 -1.3 -1.5 -1.6 -1.7
--------------------------------------------------------------------------------------------------------
Percent change from previous period for current-dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Personal income..................... .3 .5 .8 -1.8 2.9 .5 .2 .5 .8 .3 .4 .7 .4
Previously published.............. .4 .5 .5 -2.0 3.1 .2 .2 .5 .6 .3 .4 .7 .4
Disposable personal income.......... .2 .5 .8 -2.1 3.2 .5 .1 .4 .4 .2 .3 .6 .4
Previously published.............. .3 .5 .6 -2.3 3.4 .2 .2 .5 .2 .2 .3 .6 .3
Personal consumption expenditures... -.1 .9 1.3 -.1 .6 .3 .1 .4 .9 .5 .5 .6 .6
Previously published.............. .0 1.0 1.4 -.4 .4 .3 .5 .7 .8 .2 .5 .7 .4
--------------------------------------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures,
seasonally adjusted at monthly rates
--------------------------------------------------------------------------------------------------------
Real disposable personal income..... .2 .5 .4 -2.5 2.2 .3 .5 .4 -.1 .1 .0 .1 .0
Previously published.............. .2 .4 .3 -2.7 2.5 -.1 .7 .5 -.3 .2 -.1 .1 .0
Real personal consumption
expenditures....................... -.1 .9 .8 -.5 -.3 .1 .4 .5 .4 .4 .1 .2 .2
Previously published.............. .0 1.0 1.1 -.9 -.5 .0 .9 .7 .3 .2 .1 .2 .1
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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]
------------------------------------------------------------------------------------------------------------
2002 2003 2004 2005 IV 02 I 03 II 03 III 03 IV 03
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 157.8 281.7 567.8 507.8 30.1 72.7 113.1 92.3 137.7
Previously published............ 157.8 287.2 544.2 524.4 30.1 88.2 104.9 96.8 113.3
Disposable personal income........ 343.3 332.4 519.1 354.5 36.3 93.8 112.1 173.4 65.0
Previously published............ 343.3 339.1 495.0 365.7 36.3 107.7 102.3 182.9 46.4
Personal consumption expenditures. 295.7 352.9 507.9 530.9 56.5 95.0 80.3 154.2 72.7
Previously published............ 295.7 359.2 504.4 531.4 56.5 102.1 80.1 147.1 84.2
Personal saving as a percentage
of disposable personal income...... 2.4 2.1 2.0 -.4 1.8 1.9 2.2 2.3 2.2
Previously published.............. 2.4 2.1 1.8 -.5 1.8 1.9 2.1 2.5 2.0
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 1.8 3.2 6.2 5.2 1.4 3.3 5.1 4.1 6.1
Previously published.............. 1.8 3.2 5.9 5.4 1.4 4.0 4.7 4.3 5.0
Disposable personal income.......... 4.6 4.2 6.4 4.1 1.9 4.8 5.7 8.9 3.2
Previously published.............. 4.6 4.3 6.1 4.2 1.9 5.6 5.2 9.4 2.3
Personal consumption expenditures... 4.2 4.8 6.6 6.5 3.1 5.2 4.3 8.3 3.8
Previously published.............. 4.2 4.9 6.5 6.5 3.1 5.6 4.3 7.9 4.4
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 3.1 2.2 3.6 1.2 .2 1.7 5.0 6.3 1.7
Previously published.............. 3.1 2.4 3.4 1.3 .2 2.5 4.5 7.2 1.0
Real personal consumption
expenditures....................... 2.7 2.8 3.9 3.5 1.4 2.1 3.6 5.8 2.3
Previously published.............. 2.7 2.9 3.9 3.5 1.4 2.5 3.6 5.8 3.1
------------------------------------------------------------------------------------------------------------
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 04 II 04 III 04 IV 04 I 05 II 05 III 05 IV 05 I 06
------------------------------------------------------------------------------------------------------------
Change from preceding period
in billions of dollars:
Personal income................... 156.4 142.8 127.4 251.5 29.4 112.7 101.2 221.0 163.8
Previously published............ 156.1 129.5 114.9 295.6 48.6 112.3 64.7 190.7 140.5
Disposable personal income........ 155.6 125.5 99.2 224.9 -40.3 78.8 78.0 188.4 85.4
Previously published............ 154.3 105.0 90.6 259.5 -28.4 77.7 50.3 178.0 80.8
Personal consumption expenditures. 162.7 130.1 116.9 149.8 104.9 154.9 172.7 80.5 151.4
Previously published............ 165.7 113.3 117.6 152.9 119.7 141.2 167.0 82.2 155.5
Personal saving as a percentage
of disposable personal income...... 2.1 2.0 1.6 2.3 .6 -.3 -1.5 -.3 -1.0
Previously published.............. 1.8 1.6 1.2 2.3 .5 -.2 -1.6 -.5 -1.4
------------------------------------------------------------------------
Percent change from previous period for current-dollar measures
------------------------------------------------------------------------
Personal income..................... 6.9 6.2 5.4 10.7 1.2 4.6 4.0 8.9 6.4
Previously published.............. 6.9 5.6 4.9 12.7 2.0 4.5 2.6 7.6 5.5
Disposable personal income.......... 7.7 6.0 4.7 10.7 -1.8 3.6 3.5 8.6 3.8
Previously published.............. 7.6 5.1 4.3 12.5 -1.3 3.5 2.3 8.1 3.6
Personal consumption expenditures... 8.5 6.6 5.9 7.4 5.1 7.5 8.2 3.7 7.0
Previously published.............. 8.7 5.8 5.9 7.6 5.8 6.8 7.9 3.8 7.2
------------------------------------------------------------------------
Percent change from previous period for chained (2000) dollar measures
------------------------------------------------------------------------
Real disposable personal income..... 3.9 2.4 2.8 7.5 -4.0 .5 -.6 5.5 1.7
Previously published.............. 3.6 1.2 2.8 9.1 -3.4 .2 -1.4 5.1 1.5
Real personal consumption
expenditures....................... 4.7 2.9 3.9 4.3 2.7 4.2 3.9 .8 4.8
Previously published.............. 4.7 1.9 4.4 4.3 3.5 3.4 4.1 .9 5.1
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