Personal income increased $8.5 billion, or 0.1 percent, and disposable personal income (DPI)
decreased $5.0 billion, or less than 0.1 percent, in November, according to the Bureau of Economic
Analysis. Personal consumption expenditures (PCE) increased $13.1 billion, or 0.1 percent in November.
In October, personal income increased $47.2 billion, or 0.4 percent, DPI increased $27.2 billion, or 0.2
percent, and PCE increased $11.3 billion, or 0.1 percent, based on revised estimates.
Real disposable income decreased less than 0.1 percent in November, in contrast to an increase of 0.3
percent in October. Real PCE increased 0.2 percent in November, the same increase as in October.
2011
July Aug. Sept. Oct. Nov.
(Percent change from preceding month)
Personal income, current dollars 0.1 -0.1 0.2 0.4 0.1
Disposable personal income:
Current dollars 0.1 -0.1 0.1 0.2 0.0
Chained (2005) dollars -0.3 -0.4 -0.1 0.3 0.0
Personal consumption expenditures:
Current dollars 0.8 0.1 0.7 0.1 0.1
Chained (2005) dollars 0.4 -0.1 0.5 0.2 0.2
Wages and salaries
Private wage and salary disbursements decreased $7.1 billion in November, in contrast to an increase
of $37.2 billion in October. Goods-producing industries' payrolls decreased $6.7 billion, in contrast
to an increase of $8.6 billion; manufacturing payrolls decreased $6.9 billion, in contrast to an increase
of $6.8 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an
increase of $28.5 billion. Government wage and salary disbursements increased $0.1 billion in
November, the same increase as in October.
Other personal income
Supplements to wages and salaries increased $1.1 billion in November, compared with an increase of $4.4 billion in October.
Proprietors' income decreased $3.5 billion in November, compared with a decrease of $2.5 billion in October.
Farm proprietors' income decreased $4.2 billion, compared with a decrease of $4.3 billion. Nonfarm
proprietors' income increased $0.9 billion, compared with an increase of $1.7 billion.
Rental income of persons increased $8.9 billion in November, compared with an increase of $8.5 billion
in October. Personal income receipts on assets (personal interest income plus personal dividend income)
increased $6.4 billion, compared with an increase of $9.3 billion. Personal current transfer receipts
increased $1.6 billion, in contrast to a decrease of $4.9 billion.
Contributions for government social insurance -- a subtraction in calculating personal income -- decreased
$1.0 billion in November, in contrast to an increase of $5.0 billion in October.
Personal current taxes and disposable personal income
Personal current taxes increased $13.6 billion in November, compared with an increase of $19.9 billion in October.
Disposable personal income (DPI) -- personal income less personal current taxes -- decreased $5.0 billion, or
less than 0.1 percent, in November, in contrast to an increase of $27.2 billion, or 0.2 percent in October.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$13.1 billion inNovember, compared with an increase of $11.4 billion in October. PCE increased
$13.1 billion, compared with an increase of $11.3 billion.
Personal saving -- DPI less personal outlays -- was $400.9 billion in November, compared with $419.1 billion
in October. The personal saving rate -- personal saving as a percentage of disposable income -- was 3.5
percent in November, compared with 3.6 percent in October. For a comparison of personal saving in BEAs
national income and product accounts with personal saving in the Federal Reserve Boards flow of
funds accounts and data on changes in net worth, go to /national/nipaweb/Nipa-Frb.asp.
Real DPI, real PCE and price index
Real DPI -- DPI adjusted to remove price changes -- decreased less than 0.1 percent in November, in contrast
to an increase of 0.3 percent in October.
Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in November, the same increase as
in October. Purchases of durable goods increased 1.1 percent in November, compared with an
increase of 1.3 percent in October. Purchases of nondurable goods decreased 0.1 percent, in contrast to an
increase of 0.2 percent. Purchases of services increased 0.1 percent, in contrast to a decrease of less than 0.1 percent.
PCE price index -- The price index for PCE decreased less than 0.1 percent in November, compared with a decrease
of 0.1 percent in October. The PCE price index, excluding food and energy, increased 0.1 percent in November, the
same increase as in October.
Revisions
Estimates have been revised for July through October. Changes in personal income, current-dollar and chained (2005) dollar
DPI, and current-dollar and chained (2005) dollar PCE for September and October -- revised and as published in last
month's release -- are shown below.
Change from preceding month
September October
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars 15.5 20.8 0.1 0.2 48.1 47.2 0.4 0.4
Disposable personal income:
Current dollars 7.8 12.9 0.1 0.1 30.2 27.2 0.3 0.2
Chained (2005) dollars -11.0 -5.6 -0.1 -0.1 31.6 29.4 0.3 0.3
Personal consumption expenditures:
Current dollars 74.5 77.2 0.7 0.7 8.2 11.3 0.1 0.1
Chained (2005) dollars 48.4 51.7 0.5 0.5 12.1 15.2 0.1 0.2
BEAs national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are
available without charge on BEAs 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 January 30, 2012 at 8:30 A.M. EST for Personal Income and Outlays for December
Release Dates for 2012
December 2011 January 30 April 2012 June 1 August 2012 September 28
January 2012 March 1 May 2012 June 29 September 2012 October 29
February 2012 March 30 June 2012 July 31 October 2012 November 30
March 2012 April 30 July 2012 August 30 November 2012 December 21
