Personal income increased $85.8 billion, or 0.6 percent, and disposable personal income (DPI)
increased $74.7 billion, or 0.6 percent, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $41.3 billion, or 0.4 percent. In October,
personal income increased $7.5 billion, or 0.1 percent, DPI increased $6.4 billion, or 0.1 percent,
and PCE decreased $6.6 billion, or 0.1 percent, based on revised estimates.
Real disposable income increased 0.8 percent in November, in contrast to a decrease of 0.1 percent
in October. Real PCE increased 0.6 percent, in contrast to a decrease of 0.2 percent.
2012
July Aug. Sept. Oct. Nov.
(Percent change from preceding month)
Personal income, current dollars 0.1 0.1 0.4 0.1 0.6
Disposable personal income:
Current dollars 0.1 0.1 0.4 0.1 0.6
Chained (2005) dollars 0.1 -0.3 0.1 -0.1 0.8
Personal consumption expenditures:
Current dollars 0.4 0.3 0.8 -0.1 0.4
Chained (2005) dollars 0.3 0.0 0.5 -0.2 0.6
FOOTNOTE.___________
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.
This news release is available on BEAs Web site at www.bea.gov/newsreleases/rels.htm.
____________
Wages and salaries
Private wage and salary disbursements increased $41.1 billion in November, in contrast to a decrease
of $16.3 billion in October. The October decrease in private wages and salaries reflected work interruptions
caused by Hurricane Sandy, which reduced wages and salaries by $18.2 billion at an annual rate. Goods-producing
industries' payrolls increased $4.7 billion in November, in contrast to a decrease of $3.9 billion in October;
manufacturing payrolls increased $3.6 billion, in contrast to a decrease of $2.6 billion. Services-producing
industries' payrolls increased $36.4 billion, in contrast to a decrease of $12.4 billion. Government wage and
salary disbursements increased $0.6 billion, in contrast to a decrease of $1.6 billion.
Other personal income
Supplements to wages and salaries increased $5.9 billion in November, compared with an increase of $1.6 billion in October.
Proprietors' income increased $8.1 billion in November, compared with an increase of $0.5 billion in October.
Farm proprietors' income increased $0.7 billion, the same increase as in October. Nonfarm proprietors' income increased
$7.5 billion in November, in contrast to a decrease of $0.2 billion in October.
Rental income of persons increased $2.1 billion in November, compared with an increase of $0.6 billion in October.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $26.0 billion,
compared with an increase of $25.9 billion.
Personal current transfer receipts increased $7.3 billion in November, in contrast to a decrease of $5.0 billion in October.
Within current transfer receipts, government social benefits to persons for social security increased $4.8 billion,
in contrast to a decrease of $10.3 billion.
Contributions for government social insurance -- a subtraction in calculating personal income -- increased $5.3 billion
in November, in contrast to a decrease of $1.9 billion in October.
Personal current taxes and disposable personal income
Personal current taxes increased $11.1 billion in November, compared with an increase of $1.1 billion in October.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $74.7 billion, or 0.6 percent,
in November, compared with an increase of $6.4 billion, or 0.1 percent, in October.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $42.6 billion in
November, in contrast to a decrease of $5.3 billion in October. PCE increased $41.3 billion, in contrast to a decrease of $6.6 billion.
Personal saving -- DPI less personal outlays -- was $436.7 billion in November, compared with $404.6 billion in October.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.6 percent in November,
compared with 3.4 percent in October. For a comparison of personal saving in BEA's national income and product accounts
with personal saving in the Federal Reserve Board's flow of funds accounts and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.
Real DPI, real PCE and price index
Real DPI -- DPI adjusted to remove price changes -- increased 0.8 percent in November, in contrast to a decrease of 0.1 percent in
October.
Real PCE -- PCE adjusted to remove price changes -- increased 0.6 percent in November, in contrast to a decrease of 0.2 percent in
October. Purchases of durable goods increased 2.9 percent, in contrast to a decrease of 0.9 percent. Purchases of motor
vehicles and parts accounted for about half of the increase in November and about half of the decrease in October.
Purchases of nondurable goods increased 0.3 percent in November, in contrast to a decrease of 0.3 percent in
October. Purchases of services increased 0.3 percent, in contrast a decrease of less than 0.1 percent.
The price index for PCE decreased 0.2 percent in November, in contrast to an increase of 0.1 percent in October.
The PCE price index, excluding food and energy, increased less than 0.1 percent, compared with an increase of 0.1 percent.
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 47.8 53.9 0.4 0.4 0.4 7.5 0.0 0.1
Disposable personal income:
Current dollars 42.1 47.3 0.4 0.4 0.8 6.4 0.0 0.1
Chained (2005) dollars 2.2 8.0 0.0 0.1 -12.2 -7.2 -0.1 -0.1
Personal consumption expenditures:
Current dollars 84.0 86.2 0.8 0.8 -20.2 -6.6 -0.2 -0.1
Chained (2005) dollars 40.5 43.5 0.4 0.5 -29.5 -17.5 -0.3 -0.2
BEAs 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 - January 31, 2013 at 8:30 A.M. EST for Personal Income and Outlays for December
Release Dates for 2013
December 2012.. January 31 April 2013..May 31 August 2013.....September 27
January 2013... March 1 May 2013....June 27 September 2013..October 31
February 2013.. March 29 June 2013...August 2 October 2013....November 27
March 2013..... April 29 July 2013...August 30 November 2013...December 23
