Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI)
increased $30.2 billion, or 0.3 percent, inOctober, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $8.2 billion, or 0.1 percent. In September,
personal income increased $15.5 billion, or 0.1 percent, DPI increased $7.8 billion, or 0.1
percent, and PCE increased $74.5 billion, or 0.7 percent, based on revised estimates.
Real disposable income increased 0.3 percent in October, in contrast to a decrease of 0.1
percent in September. Real PCE increased 0.1 percent, compared with an increase of 0.5 percent.
2011
June July Aug. Sept. Oct.
(Percent change from preceding month)
Personal income, current dollars 0.1 0.1 -0.1 0.1 0.4
Disposable personal income:
Current dollars 0.1 0.0 -0.1 0.1 0.3
Chained (2005) dollars 0.2 -0.3 -0.4 -0.1 0.3
Personal consumption expenditures:
Current dollars -0.2 0.9 0.2 0.7 0.1
Chained (2005) dollars -0.1 0.5 -0.1 0.5 0.1
This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government
social insurance for April through June 2011 (second quarter). These estimates reflect newly available second-quarter
wage and salary tabulations from the quarterly census of employment and wages from the Bureau of Labor Statistics.
Wages and salaries
Private wage and salary disbursements increased $33.6 billion in October, compared with an increase of
$28.2 billion in September. Goods-producing industries' payrolls increased $6.3 billion, compared with an increase
of $5.6 billion; manufacturing payrolls increased $6.4 billion, compared with an increase of $2.4 billion.
Services-producing industries' payrolls increased $27.3 billion, compared with an increase of $22.6 billion.
Government wage and salary disbursements decreased $0.4 billion, compared with a decrease of $1.9 billion.
Other personal income
Supplements to wages and salaries increased $4.1 billion in October, compared with an increase of $3.2 billion in September.
Proprietors' income decreased $3.1 billion in October, compared with a decrease of $0.3 billion in September. Farm
proprietors' income decreased $5.1 billion, in contrast to an increase of $0.4 billion. Nonfarm proprietors' income
increased $2.0 billion, in contrast to a decrease of $0.7 billion.
Rental income of persons increased $3.2 billion in October, compared with an increase of $5.7 billion in September.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $8.3 billion,
in contrast to a decrease of $14.3 billion.
Personal current transfer receipts increased $6.9 billion in October, in contrast to a decrease of $1.8 billion in
September. Within current transfer receipts, government social benefits to persons for Medicaid increased $8.2 billion,
in contrast to a decrease of $4.4 billion.
Contributions for government social insurance -- a subtraction in calculating personal income -- increased
$4.5 billion in October, compared with an increase of $3.4 billion in September.
Personal current taxes and disposable personal income
Personal current taxes increased $17.8 billion in October, compared with an increase of $7.8 billion in September.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $30.2 billion, or
0.3 percent, in October, compared with an increase of $7.8 billion, or 0.1 percent, in September.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$6.9 billion inOctober, compared with an increase of $77.9 billion in September. PCE increased
$8.2 billion, compared with an increase of $74.5 billion.
Personal saving -- DPI less personal outlays -- was $400.2 billion in October, compared with $376.9 billion
in September. Personal saving as a percentage of disposable personal income was 3.5 percent in October,
compared with 3.3 percent in September. 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 -- increased 0.3 percent in October, in contrast to a decrease
of 0.1 percent in September.
Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in October, compared with an increase
of 0.5 percent in September. Purchases of durable goods increased 0.9 percent, compared with an increase of
3.3 percent. Purchases of nondurable goods increased 0.2 percent, compared with an increase of 0.4 percent.
Purchases of services decreased less than 0.1 percent, in contrast to an increase of 0.1 percent.
PCE price index -- The price index for PCE decreased 0.1 percent in October, in contrast to an increase of
0.2 percent in September. The PCE price index, excluding food and energy, increased 0.1 percent,
compared with an increase of less than 0.1 percent.
Revisions
Estimates of personal income have been revised for April through September; estimates for PCE have been revised
for July through September. Changes in personal income, current-dollar and chained (2005) dollar DPI, and
current-dollar and chained (2005) dollar PCE for August and September -- revised and as published in last
month's release -- are shown below.
Estimates of wages and salaries were revised from April through September. The revisions to second-quarter
wages and salaries reflect the incorporation of the most recently available BLS tabulations of the second-quarter
wages and salaries from the quarterly census of employment and wages. Revised estimates for July, August, and
September reflect extrapolations from the revised second-quarter level of wages. In addition, revisions to
August and September reflect revised BLS employment, hours, and earnings data.
Change from preceding month
August September
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars -13.6 -11.3 -0.1 -0.1 17.3 15.5 0.1 0.1
Disposable personal income:
Current dollars -12.8 -11.5 -0.1 -0.1 12.9 7.8 0.1 0.1
Chained (2005) dollars -38.1 -36.4 -0.4 -0.4 -5.6 -11.0 -0.1 -0.1
Personal consumption expenditures:
Current dollars 24.2 17.9 0.2 0.2 68.7 74.5 0.6 0.7
Chained (2005) dollars -3.8 -8.8 0.0 -0.1 44.3 48.4 0.5 0.5
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 December 23, 2011 at 8:30 A.M. EST for Personal Income and Outlays for November
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