EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Monday, September 28, 2015
BEA 15—46


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Technical: James Rankin (202) 606-5301 (Personal Income) piniwd@bea.gov
  Harvey Davis (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
Media: Jeannine Aversa (202) 606-2649  
PERSONAL INCOME AND OUTLAYS, AUGUST 2015
Personal income increased $52.5 billion, or 0.3 percent, and disposable personal income (DPI)
increased $47.1 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $54.9 billion, or 0.4 percent.  In July,
personal income increased $69.6 billion, or 0.5 percent, DPI increased $63.9 billion, or
0.5 percent, and PCE increased $45.7 billion, or 0.4 percent, based on revised estimates.

Real DPI increased 0.3 percent in August, compared with an increase of 0.4 percent in July.
Real PCE increased 0.4 percent, compared with an increase of 0.3 percent.

                                        2015
                                        Apr.            May             June            July            Aug.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.4             0.4             0.4             0.5             0.3
Disposable personal income:
 Current dollars                        0.4             0.4             0.4             0.5             0.4
 Chained (2009) dollars                 0.3             0.1             0.2             0.4             0.3
Personal consumption expenditures:
 Current dollars                        0.3             0.9             0.3             0.4             0.4
 Chained (2009) dollars                 0.3             0.6             0.1             0.3             0.4

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 (2009) dollars.

This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm.
__________________

                                Compensation

Wages and salaries increased $35.6 billion in August, compared with an increase of $43.8 billion in
July.  Private wages and salaries increased $31.5 billion, compared with an increase of $40.0 billion.
Government wages and salaries increased $4.1 billion, compared with an increase of $3.8 billion.

Supplements to wages and salaries increased $6.4 billion in August, compared with an increase of $6.7 billion in July.

                                Other personal income

Proprietors' income decreased $1.6 billion in August, in contrast to an increase of $10.9 billion in July.
Farm proprietors' income was unchanged in August and in July.  Nonfarm proprietors' income decreased $1.6
billion in August, in contrast to an increase of $10.9 billion in July.

Rental income of persons increased $3.2 billion in August, compared with an increase of $2.3 billion in July.
Personal income receipts on assets (personal interest income plus personal dividend income) increased
$5.2 billion, compared with an increase of $0.8 billion. Personal current transfer receipts increased
$8.3 billion, compared with an increase of $10.5 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased
$4.5 billion in August, compared with an increase of $5.3 billion in July.

                                Personal current taxes and disposable personal income

Personal current taxes increased $5.4 billion in August, compared with an increase of $5.7 billion in July.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $47.1 billion,
or 0.4 percent, compared with an increase of $63.9 billion, or 0.5 percent.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$55.2 billion in August, compared with an increase of $46.0 billion in July.  PCE increased $54.9 billion,
compared with an increase of $45.7 billion.

Personal saving -- DPI less personal outlays -- was $615.6 billion in August, compared with $623.6 billion
in July.   The personal saving rate -- personal saving as a percentage of disposable personal income -- was
4.6 percent, compared with 4.7 percent.  For a comparison of personal saving in BEA's national income and
product accounts with personal saving in the Federal Reserve Board's financial accounts of the United States
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 0.3 percent in August, compared with an
increase of 0.4 percent in July.

Real PCE -- PCE adjusted to remove price changes -- increased 0.4 percent in August, compared with an
increase of 0.3 percent in July.  Purchases of durable goods increased 1.2 percent, compared with an
increase of 1.3 percent.  Purchases of motor vehicles and parts accounted for about half of the increase
in August and in July.  Purchases of nondurable goods increased 0.6 percent in August, compared with an
increase of 0.4 percent in July.  Purchases of services increased 0.3 percent, compared with an increase
of 0.1 percent.

The price index for PCE increased less than 0.1 percent in August, compared with an increase of 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.

The August price index for PCE increased 0.3 percent from August a year ago.  The August PCE price index,
excluding food and energy, increased 1.3 percent from August a year ago.

                                Revisions

Estimates have been revised for April through July.  Changes in personal income, in current-dollar and
chained (2009) dollar DPI, and in current-dollar and chained (2009) 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                            59.4      61.0        0.4       0.4       67.1      69.6        0.4       0.5
Disposable personal income:
 Current dollars                            52.4      53.6        0.4       0.4       61.5      63.9        0.5       0.5
 Chained (2009) dollars                     19.9      20.9        0.2       0.2       45.9      47.7        0.4       0.4
Personal consumption expenditures:
 Current dollars                            31.8      37.7        0.3       0.3       37.4      45.7        0.3       0.4
 Chained (2009) dollars                      3.3       8.6        0.0       0.1       24.7      31.9        0.2       0.3

BEA's national, international, regional, and industry estimates; BEA news releases; and related articles
in the Survey of Current Business are available for free on BEA's Web site at www.bea.gov.  The entire
historical time series for these estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/.
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BEA's news release schedule is available at www.bea.gov/newsreleases/2015rd.htm.

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Next release – October 30, 2015 at 8:30 A.M. EDT for Personal Income and Outlays for September