Personal income increased $17.3 billion, or 0.1 percent, and disposable personal income (DPI)
increased $12.9 billion, or 0.1 percent, inSeptember, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $68.7 billion, or 0.6 percent. In August, personal
income decreased $13.6 billion, or 0.1 percent, DPI decreased $12.8 billion, or 0.1 percent, and PCE
increased $24.2 billion, or 0.2 percent, based on revised estimates.
Real disposable income decreased 0.1 percent in September, compared with a decrease of 0.4
percent in August. Real PCE increased 0.5 percent, compared with a decrease of less than 0.1 percent.
2011
May June July Aug. Sept.
(Percent change from preceding month)
Personal income, current dollars 0.3 0.2 0.1 -0.1 0.1
Disposable personal income:
Current dollars 0.2 0.1 0.0 -0.1 0.1
Chained (2005) dollars 0.0 0.3 -0.3 -0.4 -0.1
Personal consumption expenditures:
Current dollars 0.2 -0.2 0.9 0.2 0.6
Chained (2005) dollars 0.0 -0.1 0.5 0.0 0.5
Wages and salaries
Private wage and salary disbursements increased $17.9 billion in September, in contrast to a decrease
of $9.8 billion in August. Goods-producing industries' payrolls increased $1.6 billion, in contrast
to a decrease of $3.5 billion; manufacturing payrolls decreased $1.1 billion, compared with a decrease
of $4.3 billion. Services-producing industries' payrolls increased $16.3 billion, in contrast to a
decrease of $6.3 billion. Government wage and salary disbursements decreased $0.7 billion, in contrast
to an increase of $1.3 billion.
Other personal income
Supplements to wages and salaries increased $2.9 billion in September, compared with an increase of
$1.5 billion in August.
Proprietors' income increased $2.3 billion in September, compared with an increase of $8.4 billion
in August. Farm proprietors' income increased $1.3 billion, compared with an increase of $1.2 billion.
Nonfarm proprietors' income increased $1.0 billion, compared with an increase of $7.1 billion.
Rental income of persons increased $5.8 billion in September, compared with an increase of $5.6 billion
in August. Personal income receipts on assets (personal interest income plus personal dividend income)
decreased $9.2 billion, compared with a decrease of $11.5 billion.
Personal current transfer receipts increased $0.6 billion in September, in contrast to a decrease of
$9.7 billion in August. Government social benefits to persons for Medicaid decreased $5.3 billion,
compared with a decrease of $14.2 billion.
Contributions for government social insurance -- a subtraction in calculating personal income -- increased
$2.2 billion in September, in contrast to a decrease of $0.7 billion in August.
Personal current taxes and disposable personal income
Personal current taxes increased $4.5 billion in September, in contrast to a decrease of $0.8 billion in August.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $12.9 billion,
or 0.1 percent, in September, in contrast to a decrease of $12.8 billion, or 0.1 percent in August.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$72.1 billion inSeptember, compared with an increase of $27.6 billion in August. PCE increased
$68.7 billion, compared with an increase of $24.2 billion.
Personal saving -- DPI less personal outlays -- was $419.8 billion in September, compared with $479.1 billion in
August. Personal saving as a percentage of disposable personal income was 3.6 percent in September, compared with
4.1 percent in August. 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 0.1 percent in September, compared with a decrease of 0.4 percent in
August.
Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in September, in contrast to a decrease of less than 0.1
percent in August. Purchases of durable goods increased 2.6 percent, in contrast to a decrease of 1.0 percent.
Purchases of motor vehicles and parts accounted for more than half of the increase in September, and more than accounted
for the decrease in August. Purchases of nondurable goods increased 0.5 percent in September, in contrast to a
decrease of 0.1 percent in August. Purchases of services increased 0.1 percent, the same increase as in August.
PCE price index -- The price index for PCE increased 0.2 percent in September, compared with an increase of 0.3 percent
in August. The PCE price index, excluding food and energy, decreased less than 0.1 percent, in contrast to an increase of 0.2 percent.
Revisions
Estimates have been revised for July and August. Changes in personal income, current-dollar and chained (2005) dollar DPI,
and current-dollar and chained (2005) dollar PCE for July and August -- revised and as published in last month's release -- are shown below.
Change from preceding month
July August
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal income:
Current dollars 17.1 6.9 0.1 0.1 -7.3 -13.6 -0.1 -0.1
Disposable personal income:
Current dollars 14.4 3.1 0.1 0.0 -5.0 -12.8 0.0 -0.1
Chained (2005) dollars -24.7 -35.6 -0.2 -0.3 -29.2 -38.1 -0.3 -0.4
Personal consumption expenditures:
Current dollars 76.6 96.0 0.7 0.9 22.7 24.2 0.2 0.2
Chained (2005) dollars 32.8 48.9 0.4 0.5 -3.0 -3.8 0.0 0.0
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 November 23, 2011 at 8:30 A.M. EST for Personal Income and Outlays for October
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
________________________
NOTE. - - Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified.
Month-to-month dollar changes are differences between these published estimates. Month-to-month percent changes
are calculated from unrounded data and are not annualized. Real estimates are in chained (2005) dollars.
