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|Technical:||Kurt Kunze||(301) 278-9087||(Personal Income)||email@example.com|
|Kyle Brown||(301) 278-9086||(Personal Consumption Expenditures)||firstname.lastname@example.org|
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PERSONAL INCOME AND OUTLAYS, APRIL 2016
Personal income increased $69.8 billion, or 0.4 percent, and disposable personal income (DPI) increased $63.5 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $119.2 billion, or 1.0 percent. In March, personal income increased $56.7 billion, or 0.4 percent, DPI increased $49.6 billion, or 0.4 percent, and PCE increased $3.7 billion, or less than 0.1 percent, based on revised estimates. Real DPI increased 0.2 percent in April, compared with an increase of 0.3 percent in March. Real PCE increased 0.6 percent, in contrast to a decrease of less than 0.1 percent. 2015 2016 Dec. Jan. Feb. Mar. Apr. (Percent change from preceding month) Personal income, current dollars 0.3 0.4 0.1 0.4 0.4 Disposable personal income: Current dollars 0.3 0.6 0.1 0.4 0.5 Chained (2009) dollars 0.4 0.4 0.2 0.3 0.2 Personal consumption expenditures: Current dollars 0.1 0.1 0.2 0.0 1.0 Chained (2009) dollars 0.2 0.0 0.3 0.0 0.6 BOX.______________ This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for October through December 2015 (fourth quarter). These estimates reflect the incorporation of the most recently available fourth-quarter wage and salary tabulations from the Quarterly Census of Employment and Wages (QCEW) from the Bureau of Labor Statistics. __________________ 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 $38.6 billion in April, compared with an increase of $30.7 billion in March. Private wages and salaries increased $37.2 billion, compared with an increase of $27.6 billion. Government wages and salaries increased $1.4 billion, compared with an increase of $3.1 billion. Supplements to wages and salaries increased $5.9 billion in April, compared with an increase of $5.5 billion in March. Other personal income Proprietors' income increased $7.8 billion in April, in contrast to a decrease of $1.0 billion in March. Farm proprietors' income increased $0.3 billion, in contrast to a decrease of $1.5 billion. Nonfarm proprietors' income increased $7.5 billion, compared with an increase of $0.6 billion. Rental income of persons increased $2.5 billion in April, compared with an increase of $5.5 billion in March. Personal income receipts on assets (personal interest income plus personal dividend income) increased $7.2 billion, compared with an increase of $13.1 billion. Personal current transfer receipts increased $12.5 billion in April, compared with an increase of $6.3 billion in March. Within current transfer receipts, government social benefit payments to persons for April increased $12.3 billion, primarily reflecting an upturn in Social Security payments. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $4.7 billion in April, compared with an increase of $3.4 billion in March. Personal current taxes and disposable personal income Personal current taxes increased $6.3 billion in April, compared with an increase of $7.1 billion in March. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $63.5 billion, or 0.5 percent, compared with an increase of $49.6 billion, or 0.4 percent. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $121.7 billion in April, compared with an increase of $1.8 billion in March. PCE increased $119.2 billion, compared with an increase of $3.7 billion. Personal saving -- DPI less personal outlays -- was $751.1 billion in April, compared with $809.4 billion in March. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.4 percent, compared with 5.9 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 0.2 percent in April, compared with an increase of 0.3 percent in March. Real PCE -- PCE adjusted to remove price changes -- increased 0.6 percent in April, in contrast to a decrease of less than 0.1 percent in March. Purchases of durable goods increased 2.2 percent, compared with an increase of 0.2 percent. Purchases of motor vehicles and parts accounted for most of the increase in April. Purchases of nondurable goods increased 0.7 percent in April, compared with an increase of 0.4 percent in March. Purchases of services increased 0.4 percent, in contrast to a decrease of 0.2 percent. The price index for PCE increased 0.3 percent in April, compared with an increase of 0.1 percent in March. The PCE price index, excluding food and energy, increased 0.2 percent, compared with an increase of 0.1 percent. The April PCE price index increased 1.1 percent from April a year ago. The April PCE price index, excluding food and energy, increased 1.6 percent from April a year ago. Revisions Estimates have been revised for October through March. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for February and for March -- revised and as published in last month's release -- are shown below. Estimates of wages and salaries have been revised for October through March. The revision to fourth-quarter wages and salaries reflected the incorporation of the most recently available Bureau of Labor Statistics tabulations of fourth-quarter wages and salaries from the Quarterly Census of Employment and Wages. Revised estimates for January, February, and March reflect extrapolations from the revised fourth-quarter level of wages. In addition, revisions to February and March reflect revised BLS employment, hours, and earnings data. Change from preceding month February March Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 12.0 15.3 0.1 0.1 57.4 56.7 0.4 0.4 Disposable personal income: Current dollars 11.4 14.1 0.1 0.1 50.4 49.6 0.4 0.4 Chained (2009) dollars 22.6 23.4 0.2 0.2 39.2 37.6 0.3 0.3 Personal consumption expenditures: Current dollars 21.4 30.8 0.2 0.2 12.8 3.7 0.1 0.0 Chained (2009) dollars 30.6 37.7 0.3 0.3 5.5 -3.5 0.0 0.0 BOX._____________________ Upcoming Annual Revision of the National Income and Product Accounts As part of the annual revision of the national income and product accounts (NIPAs), revised estimates of personal income and outlays will be released in conjunction with preliminary estimates for June 2016 on August 2, 2016. This regular revision of the estimates will cover the most recent 3 years and the first 5 months of 2016. For more information, see "Preview of the Upcoming Annual NIPA Revision" included in the May Survey of Current Business article on "GDP and the Economy". _________________________ 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/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm. BEA's news release schedule is available at www.bea.gov/newsreleases/news_release_sort_national.htm * * * Next release – June 29, 2016 at 8:30 A.M. EDT Personal Income and Outlays for May