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News Release

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Monday, October 30, 2017
BEA 17-57

Personal Income and Outlays, September 2017

Personal income increased $66.9 billion (0.4 percent) in September according to estimates released today
by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $53.0 billion (0.4 percent)
and personal consumption expenditures (PCE) increased $136.0 billion (1.0 percent).

Real DPI decreased less than 0.1 percent in September and Real PCE increased 0.6 percent. The PCE price
index increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.1 percent.

                                                                2017
                                                May     June    July    Aug.    Sept.
                                                Percent change from preceding month
Personal income:
 Current dollars                                0.3     0.0     0.3     0.2     0.4
Disposable personal income:
 Current dollars                                0.4     0.0     0.2     0.1     0.4
 Chained (2009) dollars                         0.5     0.0     0.1    -0.1     0.0
Personal consumption expenditures (PCE):
 Current dollars                                0.2     0.1     0.4     0.1     1.0
 Chained (2009) dollars                         0.3     0.1     0.3    -0.1     0.6
Price indexes:
 PCE                                           -0.1     0.0     0.1     0.2     0.4
 PCE, excluding food and energy                 0.1     0.1     0.1     0.1     0.1

Price indexes:                                  Percent change from month one year ago
 PCE                                            1.5     1.4     1.4     1.4     1.6
 PCE, excluding food and energy                 1.5     1.5     1.4     1.3     1.3

The increase in personal income in September primarily reflected increases in wages and salaries and nonfarm
proprietors’ income (table 3).

The $76.0 billion increase in real PCE in September reflected an increase of $59.1 billion in spending for goods
and a $21.6 billion increase in spending for services (table 7). Within goods, new motor vehicles was the leading
contributor to the increase. Within services, the largest contributor to the increase was spending for household
utilities. Detailed information on monthly real PCE spending can be found on Table 2.3.6U.

Personal outlays increased $132.5 billion in September (table 3). Personal saving was $441.9 billion in September
and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.1 percent (table 1).

                                Updates

Estimates have been updated for July and August. The change from the preceding month for current-dollar personal
income and for current-dollar and chained (2009) dollar DPI and PCE -- revised and previously published -- are
shown below for July and August.

                                                        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                    56.1      52.2        0.3       0.3       28.6      29.2        0.2       0.2
Disposable personal income:
 Current dollars                    28.8      24.0        0.2       0.2       14.9      14.6        0.1       0.1
 Chained (2009) dollars             13.2       8.2        0.1       0.1      -13.0     -13.2       -0.1      -0.1
Personal consumption expenditures:
 Current dollars                    43.6      48.6        0.3       0.4       18.0      17.6        0.1       0.1
 Chained (2009) dollars             27.2      31.0        0.2       0.3       -8.4      -8.7       -0.1      -0.1

BOX.____________________________
                                Hurricanes Harvey and Irma

The August and September estimates of personal income and outlays reflect the effects of Hurricanes Harvey and Irma.
BEA cannot separately quantify the total impact of the storms on personal income and outlays because most of the
source data used to estimate the components of personal income and outlays do not separately identify storm impacts.
BEA made adjustments to estimates where source data were not yet available or did not fully reflect the effects of
the storms.

For more information on the treatment of disasters within the national income and product accounts, see
“How are the measures of production and income in the national accounts affected by a natural or man-made disaster?”
________________________________

                                Next release:  November 30, 2017 at 8:30 A.M. EST
                                   Personal Income and Outlays:  October 2017

Personal Income and Outlays Release Dates for 2018

December 2017....January 29             April 2018....May 31            August 2018......September 28
January 2018.....March 1                May 2018......June 29           September 2018...October 29
February 2018....March 29               June 2018.....July 31           October 2018.....November 29
March 2018.......April 30               July 2018.....August 30         November 2018....December 21