EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, SEPTEMBER 28, 2012
BEA 12-45


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James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov
Kyle Brown: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
PERSONAL INCOME AND OUTLAYS, AUGUST 2012
Personal income increased $15.0 billion, or 0.1 percent, and disposable personal income (DPI)
increased $12.5 billion, or 0.1 percent, inAugust, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $57.2 billion, or 0.5 percent.  In July,
personal income increased $18.5 billion, or 0.1 percent, DPI increased $15.4 billion, or 0.1 percent,
and PCE increased $45.4 billion, or 0.4 percent, based on revised estimates.

Real disposable income decreased 0.3 percent in August, in contrast to an increase of 0.1 percent
in July.  Real PCE increased 0.1 percent, compared with an increase of 0.4 percent.

                                        2012
                                        Apr.            May             June            July            Aug.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.2             0.3             0.3             0.1             0.1
Disposable personal income:
 Current dollars                        0.1             0.3             0.3             0.1             0.1
 Chained (2005) dollars                 0.1             0.5             0.2             0.1            -0.3
Personal consumption expenditures:
 Current dollars                        0.2            -0.2             0.0             0.4             0.5
 Chained (2005) dollars                 0.2             0.0            -0.1             0.4             0.1

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 $4.7 billion in August, compared with an increase
of $9.3 billion in July.  Goods-producing industries' payrolls decreased $6.4 billion, in contrast
to an increase of $3.2 billion; manufacturing payrolls decreased $5.2 billion, in contrast to an
increase of $3.4 billion.  Services-producing industries' payrolls increased $11.2 billion, compared
with an increase of $6.0 billion.  Government wage and salary disbursements increased $0.7 billion,
in contrast to a decrease of $0.7 billion.

                                Other personal income

Supplements to wages and salaries increased $3.3 billion in August, compared with an increase of $3.6 billion in July.

Proprietors' income increased $7.3 billion in August, compared with an increase of $6.5 billion in July.
Farm proprietors' income increased $4.4 billion in August, the same increase as in July.   Nonfarm
proprietors' income increased $2.9 billion in August, compared with an increase of $2.1 billion in July.

Rental income of persons increased $5.3 billion in August, compared with an increase of $5.1 billion
in July.  Personal income receipts on assets (personal interest income plus personal dividend income)
decreased $4.3 billion, compared with a decrease of $13.1 billion.

Personal current transfer receipts decreased $1.4 billion in August, in contrast to an increase of $9.5
billion in July.  Within current transfer receipts, government social benefits to persons for Medicare
increased $2.3 billion, compared with an increase of $6.9 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased
$0.7 billion in August, compared with an increase of $1.4 billion in July.

                                Personal current taxes and disposable personal income

Personal current taxes increased $2.4 billion in August, compared with an increase of $3.1 billion in July.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $12.5 billion,
or 0.1 percent, in August, compared with an increase of $15.4 billion, or 0.1 percent, in July.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $60.0
billion in August, compared with an increase of $48.2 billion in July.  PCE increased $57.2 billion, compared
with an increase of $45.4 billion.

Personal saving -- DPI less personal outlays -- was $444.8 billion in August, compared with $492.2 billion
in July.  Personal saving as a percentage of disposable personal income was 3.7 percent in August,
compared with 4.1 percent in July.  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 www.bea.gov/national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE and price index

Real DPI -- DPI adjusted to remove price changes -- decreased 0.3 percent in August, in contrast to
an increase of 0.1 percent in July.

Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in August, compared with
an increase of 0.4 percent in July.  Purchases of durable goods increased 0.5 percent in August,
the same increase as in July.  Purchases of motor vehicles and parts accounted for most of the increase in August.
Purchases of nondurable goods increased 0.3 percent in August, compared with an increase of 0.6
percent in July.  Purchases of services decreased 0.1 percent, in contrast to an increase of
0.3 percent.

The price index for PCE increased 0.4 percent in August, compared with an increase of less
than 0.1 percent in July.  The PCE price index, excluding food and energy, increased 0.1 percent
in August, the same increase as in July.

                                Revisions

Estimates have been revised for April through July.  Changes in personal income, current-dollar
and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for June
and July -- revised and as published in last month's release -- are shown below.

                                                                Change from preceding month
                                        June                                      July
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                            46.1      41.6        0.3       0.3       42.3      18.5        0.3       0.1
Disposable personal income:
 Current dollars                            37.4      34.2        0.3       0.3       39.9      15.4        0.3       0.1
 Chained (2005) dollars                     21.4      20.9        0.2       0.2       33.5       9.7        0.3       0.1
Personal consumption expenditures:
 Current dollars                             3.5      -2.2        0.0       0.0       46.0      45.4        0.4       0.4
 Chained (2005) dollars                     -7.2      -9.9       -0.1      -0.1       38.9      35.8        0.4       0.4

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.

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Next release -- October 29, 2012 at 8:30 A.M. EDT for Personal Income and Outlays for September