EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, THURSDAY, JUNE 27, 2013
                                                                                BEA 13-31

James Rankin: (202)606-5301 (Personal Income)                      piniwd@bea.gov
Harvey Davis: (202)606-5302 (Personal Consumption Expenditures)    pce@bea.gov

                                PERSONAL INCOME AND OUTLAYS:  MAY 2013

Personal income increased $69.4 billion, or 0.5 percent, and disposable personal income (DPI)
increased $57.0 billion, or 0.5 percent, in May, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $29.0 billion, or 0.3 percent.  In April,
personal income increased $18.3 billion, or 0.1 percent, DPI increased $6.5 billion, or 0.1 percent,
and PCE decreased $39.6 billion, or 0.3 percent, based on revised estimates.

Real disposable income increased 0.4 percent in May, compared with an increase of 0.3
percent in April.  Real PCE increased 0.2 percent, in contrast to a decrease of 0.1 percent.

                                        2013
                                        Jan.            Feb.            Mar.            Apr.            May
                                                       (Percent change from preceding month)
Personal income, current dollars       -4.4             1.2             0.2             0.1             0.5
Disposable personal income:
 Current dollars                       -5.2             1.2             0.2             0.1             0.5
 Chained (2005) dollars                -5.2             0.8             0.3             0.3             0.4
Personal consumption expenditures:
 Current dollars                        0.1             0.7             0.2            -0.3             0.3
 Chained (2005) dollars                 0.1             0.3             0.3            -0.1             0.2

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 BEA�s Web site at www.bea.gov/newsreleases/rels.htm.
_________________

                                Wages and salaries

Private wage and salary disbursements increased $19.7 billion in May, compared with an increase of
$6.5 billion in April.  Goods-producing industries' payrolls increased $3.9 billion, in contrast to a decrease
of $0.8 billion; manufacturing payrolls increased $0.6 billion, in contrast to a decrease of $1.1 billion.
Services-producing industries' payrolls increased $15.8 billion, compared with an increase of $7.4 billion.
Government wage and salary disbursements increased $0.8 billion, compared with an increase of $0.2 billion.

                                Other personal income

Supplements to wages and salaries increased $3.4 billion in May, compared with an increase of $2.5 billion in April.

Proprietors' income decreased $1.3 billion in May, in contrast to an increase of $1.1 billion in April.
Farm proprietors' income decreased $6.7 billion in May, the same decrease as in April.  Nonfarm proprietors'
income increased $5.4 billion in May, compared with an increase of $7.8 billion in April.

Rental income of persons decreased $0.7 billion in May, compared with a decrease of $1.5 billion in April.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $31.2 billion,
compared with an increase of $26.7 billion.

Personal current transfer receipts increased $19.4 billion in May, in contrast to a decrease of $15.7 billion in April.
Within current transfer receipts, government social benefits to persons for social security increased $11.8 billion, in
contrast to a decrease of $9.6 billion.

Contributions for government social insurance -- a subtraction in calculating personal income --  increased $3.1 billion
in May, compared with an increase of $1.4 billion in April.

                                Personal current taxes and disposable personal income

Personal current taxes increased $12.5 billion in May, compared with an increase of $11.8 billion in April.  Disposable
personal income (DPI) -- personal income less personal current taxes -- increased $57.0 billion, or 0.5 percent, in May,
compared with an increase of $6.5 billion, or 0.1 percent in April.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $28.5 billion in May, in
contrast to a decrease of $40.0 billion in April.  PCE increased $29.0 billion, in contrast to a decrease of $39.6 billion.

Personal saving -- DPI less personal outlays -- was $387.6 billion in May, compared with $359.2 billion in April.  The personal saving rate
-- personal saving as a percentage of disposable personal income -- was 3.2 percent in May, compared with 3.0 percent in April.  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 http://www.bea.gov/national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE, and PCE price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in May, compared with an increase of 0.3 percent in April.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in May, in contrast to a decrease of 0.1 percent in April.
Purchases of durable goods increased 1.0 percent, compared with an increase of 0.2 percent. Purchases of nondurable goods increased
0.5 percent, in contrast to a decrease of 0.3 percent.  Purchases of services decreased 0.1 percent in May, the same decrease as in April.

The price index for PCE increased 0.1 percent in May, in contrast to a decrease of 0.3 percent in April.  The PCE price index,
excluding food and energy, increased 0.1 percent, compared with an increase of less than 0.1 percent.

                                Revisions

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

                                                                Change from preceding month
                                        March                                     April
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                            36.2      33.5        0.3       0.2       -5.6      18.3        0.0       0.1
Disposable personal income:
 Current dollars                            25.4      22.0        0.2       0.2      -16.1       6.5       -0.1       0.1
 Chained (2005) dollars                     33.7      31.3        0.3       0.3       12.0      31.9        0.1       0.3
Personal consumption expenditures:
 Current dollars                            14.2      20.3        0.1       0.2      -20.5     -39.6       -0.2      -0.3
 Chained (2005) dollars                     23.4      29.1        0.2       0.3        6.9      -9.2        0.1      -0.1

BOX._____________
                                Comprehensive Revision of the National Income and Product Accounts

As part of the 14th comprehensive (or benchmark) revision of the national income and product accounts (NIPAs), BEA will release
revised estimates of personal income and outlays in conjunction with preliminary estimates for June 2013 on August 2, 2013.
More information on the revision is available on BEA�s Web site at www.bea.gov/gdp-revisions.  An article in the March 2013
issue of the Survey of Current Business discusses the upcoming changes in definitions and presentations, and an article in the May
Survey describes the changes in statistical methods.  Revised NIPA table stubs and news release stubs are also available on
the Web site.  An article in the September Survey will describe the estimates in detail.
_________________

BEA's 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 - August 2, 2013 at 8:30 A.M. EDT for Personal Income and Outlays for June and Revised Estimates for 1959 through May 2013
________________________

NOTE.  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 BEA's Web site at www.bea.gov/newsreleases/rels.htm.

                                       Table 1. Personal Income and Its Disposition (Months)
                                 [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................   13,498.2   13,690.4   14,104.1   13,483.9   13,643.2   13,676.7   13,695.0   13,764.4

  Compensation of employees, received......    8,640.7    8,775.3    8,895.3    8,722.1    8,777.4    8,794.5    8,803.6    8,827.6

    Wage and salary disbursements..........    6,941.9    7,064.9    7,173.9    7,004.4    7,053.7    7,067.9    7,074.6    7,095.1
      Private industries...................    5,738.6    5,861.5    5,969.5    5,799.3    5,847.3    5,861.9    5,868.4    5,888.1
        Goods-producing industries.........    1,177.0    1,211.4    1,244.5    1,185.5    1,200.5    1,201.5    1,200.7    1,204.6
          Manufacturing....................      757.7      782.2      806.2      760.9      770.5      770.4      769.3      769.9
        Services-producing industries......    4,561.6    4,650.1    4,725.0    4,613.8    4,646.8    4,660.3    4,667.7    4,683.5
          Trade, transportation, and
           utilities.......................    1,109.2    1,125.8    1,134.6    1,125.5    1,131.0    1,136.5    1,136.3    1,141.4
          Other services-producing
           industries......................    3,452.4    3,524.3    3,590.4    3,488.2    3,515.8    3,523.9    3,531.4    3,542.0
      Government...........................    1,203.4    1,203.4    1,204.4    1,205.1    1,206.4    1,206.0    1,206.2    1,207.0

    Supplements to wages and salaries......    1,698.8    1,710.4    1,721.4    1,717.7    1,723.7    1,726.6    1,729.1    1,732.5
      Employer contributions for employee
       pension and insurance funds.........    1,182.2    1,185.0    1,188.0    1,190.8    1,193.3    1,195.2    1,197.1    1,199.0
      Employer contributions for government
       social insurance....................      516.6      525.4      533.4      527.0      530.4      531.4      532.0      533.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    1,216.0    1,225.9    1,232.1    1,246.2    1,267.1    1,272.6    1,273.7    1,272.4
    Farm...................................       61.6       60.7       59.7       67.4       75.1       82.7       76.0       69.3
    Nonfarm................................    1,154.4    1,165.3    1,172.4    1,178.9    1,192.1    1,189.9    1,197.7    1,203.1

  Rental income of persons with capital
   consumption adjustment..................      480.1      481.9      482.5      492.4      503.8      515.9      514.4      513.7

  Personal income receipts on assets.......    1,728.1    1,783.3    2,064.6    1,694.8    1,762.1    1,756.8    1,783.5    1,814.7
    Personal interest income...............      977.2      997.2    1,017.2    1,008.8    1,000.3      991.9    1,010.6    1,029.3
    Personal dividend income...............      750.9      786.1    1,047.4      686.0      761.7      764.9      772.9      785.4

  Personal current transfer receipts.......    2,389.1    2,394.7    2,413.7    2,424.0    2,435.3    2,441.5    2,425.8    2,445.2
    Government social benefits to persons..    2,342.7    2,348.2    2,367.0    2,377.0    2,388.2    2,394.2    2,378.4    2,397.6
      Social security\1\...................      763.3      768.0      781.7      785.0      789.0      795.4      785.8      797.6
      Medicare\2\..........................      566.9      567.5      572.9      576.8      581.8      582.7      579.7      585.4
      Medicaid.............................      425.1      425.4      425.8      426.2      428.7      430.3      424.4      424.6
      Unemployment insurance...............       70.7       71.7       69.8       67.1       65.3       63.8       61.6       60.0
      Veterans' benefits...................       75.1       74.4       74.5       77.3       79.5       78.5       80.4       82.6
      Other................................      441.7      441.1      442.3      444.6      443.7      443.5      446.4      447.4
    Other current transfer receipts, from
     business (net)........................       46.4       46.6       46.7       47.0       47.2       47.3       47.4       47.6

  Less: Contributions for government social
   insurance, domestic.....................      955.8      970.7      984.1    1,095.6    1,102.5    1,104.7    1,106.1    1,109.2

Less: Personal current taxes...............    1,496.4    1,525.8    1,565.0    1,591.5    1,612.1    1,623.5    1,635.3    1,647.8

Equals: Disposable personal income.........   12,001.9   12,164.6   12,539.1   11,892.5   12,031.1   12,053.1   12,059.6   12,116.6

Less: Personal outlays.....................   11,562.7   11,597.1   11,615.2   11,635.2   11,717.9   11,740.5   11,700.5   11,729.0

  Personal consumption expenditures........   11,219.9   11,255.1   11,273.9   11,290.1   11,370.3   11,390.6   11,351.0   11,380.0
    Goods..................................    3,834.6    3,843.2    3,850.5    3,849.8    3,897.3    3,878.1    3,835.0    3,853.5
      Durable goods........................    1,225.4    1,259.3    1,271.3    1,272.1    1,273.4    1,269.8    1,268.5    1,279.8
      Nondurable goods.....................    2,609.1    2,583.9    2,579.2    2,577.8    2,624.0    2,608.3    2,566.4    2,573.7
    Services...............................    7,385.3    7,411.9    7,423.4    7,440.3    7,473.0    7,512.5    7,516.0    7,526.5
  Personal interest payments\3\............      173.4      172.6      171.9      174.4      176.9      179.3      178.9      178.4
  Personal current transfer payments.......      169.5      169.4      169.4      170.8      170.7      170.6      170.6      170.6
    To government..........................       92.3       92.3       92.2       92.1       92.1       92.0       91.9       91.9
    To the rest of the world (net).........       77.1       77.1       77.1       78.7       78.7       78.7       78.7       78.7

Equals: Personal saving....................      439.2      567.4      924.0      257.2      313.2      312.6      359.2      387.6

  Personal saving as a percentage of
   disposable personal income..............        3.7        4.7        7.4        2.2        2.6        2.6        3.0        3.2

Addenda:
  Personal income excluding current
   transfer receipts, billions of
   chained (2005) dollars\4\...............    9,534.5    9,707.8   10,047.0    9,499.1    9,587.4    9,622.4    9,676.1    9,711.1

  Disposable personal income:
    Total, billions of chained (2005)
     dollars\4\............................   10,300.7   10,454.6   10,776.4   10,214.1   10,291.6   10,322.9   10,354.8   10,395.2
    Per capita:
      Current dollars......................     38,104     38,597     39,764     37,693     38,113     38,162     38,161     38,319
      Chained (2005) dollars...............     32,703     33,172     34,174     32,374     32,603     32,684     32,766     32,875
  Population (midperiod, thousands)\5\.....    314,981    315,165    315,341    315,507    315,668    315,838    316,019    316,203
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Social security benefits include old-age, survivors, and disability insurance
   benefits that are distributed from the federal old-age and survivors
   insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance
   benefits that are distributed from the federal hospital insurance trust
   fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for
   personal consumption expenditures.
5. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population.  The monthly estimate
   is the average of estimates for the first of the month and the first of the
   following month; the annual and quarterly estimates are averages of the
   monthly estimates.

                                 Table 2. Personal Income and Its Disposition (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2011       2012      IV 11       I 12      II 12     III 12      IV 12    I 13\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................   12,947.3   13,431.1   13,017.4   13,227.1   13,327.0   13,406.2   13,764.3   13,601.3

  Compensation of employees, received......    8,295.2    8,592.9    8,340.1    8,495.7    8,527.7    8,577.6    8,770.4    8,764.7

    Wage and salary disbursements..........    6,661.3    6,906.0    6,692.4    6,825.9    6,849.2    6,888.5    7,060.2    7,042.0
      Private industries...................    5,466.0    5,704.5    5,499.9    5,626.8    5,649.4    5,685.3    5,856.5    5,836.1
        Goods-producing industries.........    1,108.6    1,169.7    1,107.4    1,144.0    1,161.8    1,162.1    1,211.0    1,195.8
          Manufacturing....................      706.6      748.9      701.0      723.1      744.3      746.2      782.0      767.2
        Services-producing industries......    4,357.4    4,534.8    4,392.5    4,482.7    4,487.6    4,523.1    4,645.5    4,640.3
          Trade, transportation, and
           utilities.......................    1,050.1    1,102.5    1,056.6    1,083.3    1,098.4    1,105.2    1,123.2    1,131.0
          Other services-producing
           industries......................    3,307.3    3,432.2    3,335.9    3,399.4    3,389.2    3,417.9    3,522.4    3,509.3
      Government...........................    1,195.3    1,201.5    1,192.5    1,199.1    1,199.8    1,203.3    1,203.7    1,205.8

    Supplements to wages and salaries......    1,633.9    1,686.9    1,647.7    1,669.8    1,678.5    1,689.1    1,710.2    1,722.7
      Employer contributions for employee
       pension and insurance funds.........    1,139.0    1,172.1    1,151.5    1,159.6    1,167.7    1,176.2    1,185.1    1,193.1
      Employer contributions for government
       social insurance....................      494.9      514.8      496.2      510.2      510.8      512.9      525.1      529.6

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................    1,157.3    1,202.3    1,165.3    1,184.3    1,194.9    1,205.4    1,224.7    1,262.0
    Farm...................................       54.6       56.2       54.4       52.3       52.5       59.4       60.7       75.1
    Nonfarm................................    1,102.8    1,146.1    1,110.9    1,132.1    1,142.4    1,146.0    1,164.0    1,186.9

  Rental income of persons with capital
   consumption adjustment..................      409.7      462.6      430.3      445.3      452.8      471.0      481.5      504.0

  Personal income receipts on assets.......    1,685.1    1,749.7    1,684.6    1,696.4    1,730.8    1,712.8    1,858.7    1,737.9
    Personal interest income...............    1,008.8      992.6      988.0      991.8    1,006.1      975.3      997.2    1,000.3
    Personal dividend income...............      676.3      757.0      696.6      704.6      724.6      737.5      861.5      737.6

  Personal current transfer receipts.......    2,319.2    2,375.1    2,319.9    2,348.0    2,365.2    2,388.0    2,399.2    2,433.6
    Government social benefits to persons..    2,274.3    2,329.2    2,276.0    2,302.7    2,319.5    2,341.8    2,352.6    2,386.5
      Social security\1\...................      713.3      762.2      721.9      753.2      759.4      765.1      771.0      789.8
      Medicare\2\..........................      545.1      562.0      553.1      555.9      556.9      566.2      569.1      580.4
      Medicaid.............................      403.9      415.3      392.0      397.6      413.9      424.2      425.4      428.4
      Unemployment insurance...............      108.0       80.9      100.9       94.2       83.8       74.9       70.7       65.4
      Veterans' benefits...................       63.3       72.3       64.7       68.8       71.5       74.0       74.7       78.5
      Other................................      440.8      436.5      443.5      433.0      433.9      437.4      441.7      443.9
    Other current transfer receipts, from
     business (net)........................       44.9       45.9       43.9       45.3       45.8       46.1       46.6       47.2

  Less: Contributions for government social
   insurance, domestic.....................      919.3      951.5      922.8      942.6      944.4      948.7      970.2    1,100.9

Less: Personal current taxes...............    1,398.0    1,480.4    1,419.1    1,450.8    1,465.2    1,476.5    1,529.1    1,609.0

Equals: Disposable personal income.........   11,549.3   11,950.8   11,598.3   11,776.4   11,861.8   11,929.7   12,235.2   11,992.2

Less: Personal outlays.....................   11,059.9   11,460.3   11,205.6   11,348.7   11,406.1   11,494.7   11,591.7   11,697.9

  Personal consumption expenditures........   10,729.0   11,119.6   10,873.8   11,007.2   11,067.2   11,154.4   11,249.6   11,350.3
    Goods..................................    3,624.8    3,783.2    3,690.0    3,755.9    3,741.5    3,792.5    3,842.8    3,875.1
      Durable goods........................    1,146.4    1,218.9    1,175.1    1,204.6    1,200.3    1,218.9    1,252.0    1,271.8
      Nondurable goods.....................    2,478.4    2,564.2    2,515.0    2,551.3    2,541.2    2,573.6    2,590.8    2,603.3
    Services...............................    7,104.2    7,336.5    7,183.8    7,251.3    7,325.7    7,361.9    7,406.9    7,475.2
  Personal interest payments\3\............      168.0      172.7      167.0      175.4      171.2      171.6      172.6      176.9
  Personal current transfer payments.......      162.8      168.0      164.8      166.1      167.7      168.6      169.4      170.7
    To government..........................       88.9       91.5       89.8       90.5       91.3       92.0       92.3       92.0
    To the rest of the world (net).........       73.9       76.4       75.1       75.5       76.4       76.6       77.1       78.7

Equals: Personal saving....................      489.4      490.5      392.7      427.7      455.7      435.1      643.5      294.3

  Personal saving as a percentage of
   disposable personal income..............        4.2        4.1        3.4        3.6        3.8        3.6        5.3        2.5

Addenda:
  Personal income excluding current
   transfer receipts, billions of
   chained (2005) dollars\4\...............    9,340.0    9,548.4    9,335.4    9,435.7    9,491.3    9,502.6    9,763.0    9,569.7

  Disposable personal income:
    Total, billions of chained (2005)
     dollars\4\............................   10,149.7   10,321.2   10,121.5   10,213.9   10,270.6   10,288.8   10,510.5   10,276.3
    Per capita:
      Current dollars......................     37,013     38,026     37,065     37,573     37,781     37,925     38,822     37,990
      Chained (2005) dollars...............     32,527     32,841     32,346     32,588     32,713     32,708     33,350     32,554
  Population (midperiod, thousands)\5\.....    312,036    314,278    312,917    313,425    313,960    314,564    315,162    315,671
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
1. Social security benefits include old-age, survivors, and disability insurance
   benefits that are distributed from the federal old-age and survivors
   insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance
   benefits that are distributed from the federal hospital insurance trust
   fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for
   personal consumption expenditures.
5. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population.  The monthly estimate
   is the average of estimates for the first of the month and the first of the
   following month; the annual and quarterly estimates are averages of the
   monthly estimates.

                        Table 3. Personal Income and Its Disposition, Change from Preceding Period (Months)
                                 [Billions of dollars; months seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................       52.2      192.2      413.7     -620.2      159.3       33.5       18.3       69.4

  Compensation of employees, received......       37.5      134.6      120.0     -173.2       55.3       17.1        9.1       24.0

    Wage and salary disbursements..........       32.2      123.0      109.0     -169.5       49.3       14.2        6.7       20.5
      Private industries...................       34.1      122.9      108.0     -170.2       48.0       14.6        6.5       19.7
        Goods-producing industries.........       16.7       34.4       33.1      -59.0       15.0        1.0        -.8        3.9
          Manufacturing....................       14.1       24.5       24.0      -45.3        9.6        -.1       -1.1         .6
        Services-producing industries......       17.4       88.5       74.9     -111.2       33.0       13.5        7.4       15.8
          Trade, transportation, and
           utilities.......................        -.7       16.6        8.8       -9.1        5.5        5.5        -.2        5.1
          Other services-producing
           industries......................       18.1       71.9       66.1     -102.2       27.6        8.1        7.5       10.6
      Government...........................       -1.8         .0        1.0         .7        1.3        -.4         .2         .8

    Supplements to wages and salaries......        5.3       11.6       11.0       -3.7        6.0        2.9        2.5        3.4
      Employer contributions for employee
       pension and insurance funds.........        2.9        2.8        3.0        2.8        2.5        1.9        1.9        1.9
      Employer contributions for government
       social insurance....................        2.4        8.8        8.0       -6.4        3.4        1.0         .6        1.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        1.2        9.9        6.2       14.1       20.9        5.5        1.1       -1.3
    Farm...................................       -1.0        -.9       -1.0        7.7        7.7        7.6       -6.7       -6.7
    Nonfarm................................        2.2       10.9        7.1        6.5       13.2       -2.2        7.8        5.4

  Rental income of persons with capital
   consumption adjustment..................         .2        1.8         .6        9.9       11.4       12.1       -1.5        -.7

  Personal income receipts on assets.......       26.4       55.2      281.3     -369.8       67.3       -5.3       26.7       31.2
    Personal interest income...............       20.1       20.0       20.0       -8.4       -8.5       -8.4       18.7       18.7
    Personal dividend income...............        6.3       35.2      261.3     -361.4       75.7        3.2        8.0       12.5

  Personal current transfer receipts.......       -8.5        5.6       19.0       10.3       11.3        6.2      -15.7       19.4
    Government social benefits to persons..       -8.6        5.5       18.8       10.0       11.2        6.0      -15.8       19.2
      Social security\1\...................      -10.3        4.7       13.7        3.3        4.0        6.4       -9.6       11.8
      Medicare\2\..........................       -1.1         .6        5.4        3.9        5.0         .9       -3.0        5.7
      Medicaid.............................        -.6         .3         .4         .4        2.5        1.6       -5.9         .2
      Unemployment insurance...............       -1.7        1.0       -1.9       -2.7       -1.8       -1.5       -2.2       -1.6
      Veterans' benefits...................        1.5        -.7         .1        2.8        2.2       -1.0        1.9        2.2
      Other................................        3.6        -.6        1.2        2.3        -.9        -.2        2.9        1.0
    Other current transfer receipts, from
     business (net)........................         .1         .2         .1         .3         .2         .1         .1         .2

  Less: Contributions for government social
   insurance, domestic.....................        4.7       14.9       13.4      111.5        6.9        2.2        1.4        3.1

Less: Personal current taxes...............       15.1       29.4       39.2       26.5       20.6       11.4       11.8       12.5

Equals: Disposable personal income.........       37.2      162.7      374.5     -646.6      138.6       22.0        6.5       57.0

Less: Personal outlays.....................       -3.7       34.4       18.1       20.0       82.7       22.6      -40.0       28.5

  Personal consumption expenditures........       -3.5       35.2       18.8       16.2       80.2       20.3      -39.6       29.0
    Goods..................................      -15.6        8.6        7.3        -.7       47.5      -19.2      -43.1       18.5
      Durable goods........................      -14.1       33.9       12.0         .8        1.3       -3.6       -1.3       11.3
      Nondurable goods.....................       -1.6      -25.2       -4.7       -1.4       46.2      -15.7      -41.9        7.3
    Services...............................       12.0       26.6       11.5       16.9       32.7       39.5        3.5       10.5
  Personal interest payments\3\............        -.7        -.8        -.7        2.5        2.5        2.4        -.4        -.5
  Personal current transfer payments.......         .7        -.1         .0        1.4        -.1        -.1         .0         .0
    To government..........................         .0         .0        -.1        -.1         .0        -.1        -.1         .0
    To the rest of the world (net).........         .5         .0         .0        1.6         .0         .0         .0         .0

Equals: Personal saving....................       40.9      128.2      356.6     -666.8       56.0        -.6       46.6       28.4

Addenda:
  Personal income excluding current
   transfer receipts, billions of chained
   (2005) dollars\4\.......................       37.1      173.3      339.2     -547.9       88.3       35.0       53.7       35.0
  Disposable personal income, billions
   of chained (2005) dollars\4\............       15.6      153.9      321.8     -562.3       77.5       31.3       31.9       40.4
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Social security benefits include old-age, survivors, and disability insurance
   benefits that are distributed from the federal old-age and survivors
   insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance
   benefits that are distributed from the federal hospital insurance trust
   fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator
   for personal consumption expenditures.

                  Table 4. Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)
                                [Billions of dollars; quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2011       2012      IV 11       I 12      II 12     III 12      IV 12    I 13\r\
-----------------------------------------------------------------------------------------------------------------------------------
Personal income............................      625.4      483.8       41.1      209.7       99.9       79.2      358.1     -163.0

  Compensation of employees, received......      325.2      297.7       22.0      155.6       32.0       49.9      192.8       -5.7

    Wage and salary disbursements..........      256.7      244.7       14.3      133.5       23.3       39.3      171.7      -18.2
      Private industries...................      252.7      238.5       19.5      126.9       22.6       35.9      171.2      -20.4
        Goods-producing industries.........       51.1       61.1       -9.0       36.6       17.8         .3       48.9      -15.2
          Manufacturing....................       32.5       42.3       -9.1       22.1       21.2        1.9       35.8      -14.8
        Services-producing industries......      201.6      177.4       28.5       90.2        4.9       35.5      122.4       -5.2
          Trade, transportation, and
           utilities.......................       44.6       52.4        2.4       26.7       15.1        6.8       18.0        7.8
          Other services-producing
           industries......................      157.0      124.9       26.0       63.5      -10.2       28.7      104.5      -13.1
      Government...........................        4.0        6.2       -5.2        6.6         .7        3.5         .4        2.1

    Supplements to wages and salaries......       68.5       53.0        7.7       22.1        8.7       10.6       21.1       12.5
      Employer contributions for employee
       pension and insurance funds.........       41.7       33.1        7.3        8.1        8.1        8.5        8.9        8.0
      Employer contributions for government
       social insurance....................       26.8       19.9         .4       14.0         .6        2.1       12.2        4.5

  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................       53.9       45.0        3.9       19.0       10.6       10.5       19.3       37.3
    Farm...................................       10.3        1.6        -.9       -2.1         .2        6.9        1.3       14.4
    Nonfarm................................       43.7       43.3        4.8       21.2       10.3        3.6       18.0       22.9

  Rental income of persons with capital
   consumption adjustment..................       60.5       52.9       16.5       15.0        7.5       18.2       10.5       22.5

  Personal income receipts on assets.......       86.8       64.6       -4.5       11.8       34.4      -18.0      145.9     -120.8
    Personal interest income...............       -7.8      -16.2      -16.4        3.8       14.3      -30.8       21.9        3.1
    Personal dividend income...............       94.6       80.7       11.9        8.0       20.0       12.9      124.0     -123.9

  Personal current transfer receipts.......       34.9       55.9        5.2       28.1       17.2       22.8       11.2       34.4
    Government social benefits to persons..       37.4       54.9        5.6       26.7       16.8       22.3       10.8       33.9
      Social security\1\...................       23.1       48.9        5.9       31.3        6.2        5.7        5.9       18.8
      Medicare\2\..........................       29.8       16.9        4.0        2.8        1.0        9.3        2.9       11.3
      Medicaid.............................        7.3       11.4       -4.1        5.6       16.3       10.3        1.2        3.0
      Unemployment insurance...............      -30.9      -27.1       -2.1       -6.7      -10.4       -8.9       -4.2       -5.3
      Veterans' benefits...................        5.4        9.0        -.2        4.1        2.7        2.5         .7        3.8
      Other................................        2.7       -4.3        2.2      -10.5         .9        3.5        4.3        2.2
    Other current transfer receipts, from
     business (net)........................       -2.5        1.0        -.4        1.4         .5         .3         .5         .6

  Less: Contributions for government social
   insurance, domestic.....................      -64.0       32.2        2.0       19.8        1.8        4.3       21.5      130.7

Less: Personal current taxes...............      203.2       82.4       15.3       31.7       14.4       11.3       52.6       79.9

Equals: Disposable personal income.........      422.2      401.5       25.7      178.1       85.4       67.9      305.5     -243.0

Less: Personal outlays.....................      499.5      400.4       84.7      143.1       57.4       88.6       97.0      106.2

  Personal consumption expenditures........      513.3      390.6       82.6      133.4       60.0       87.2       95.2      100.7
    Goods..................................      259.9      158.4       46.4       65.9      -14.4       51.0       50.3       32.3
      Durable goods........................       67.0       72.5       30.3       29.5       -4.3       18.6       33.1       19.8
      Nondurable goods.....................      192.9       85.8       16.3       36.3      -10.1       32.4       17.2       12.5
    Services...............................      253.3      232.3       36.2       67.5       74.4       36.2       45.0       68.3
  Personal interest payments\3\............      -15.8        4.7        -.3        8.4       -4.2         .4        1.0        4.3
  Personal current transfer payments.......        1.9        5.2        2.4        1.3        1.6         .9         .8        1.3
    To government..........................        1.5        2.6         .7         .7         .8         .7         .3        -.3
    To the rest of the world (net).........         .4        2.5        1.8         .4         .9         .2         .5        1.6

Equals: Personal saving....................      -77.3        1.1      -58.9       35.0       28.0      -20.6      208.4     -349.2

Addenda:
  Personal income excluding current
   transfer receipts, billions of chained
   (2005) dollars\4\.......................      304.2      208.4        6.8      100.3       55.6       11.3      260.4     -193.3
  Disposable personal income, billions
   of chained (2005) dollars\4\............      133.2      171.5       -4.1       92.4       56.7       18.2      221.7     -234.2
-----------------------------------------------------------------------------------------------------------------------------------
r Revised
1. Social security benefits include old-age, survivors, and disability insurance
   benefits that are distributed from the federal old-age and survivors
   insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance
   benefits that are distributed from the federal hospital insurance trust
   fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator
   for personal consumption expenditures.

                    Table 5. Personal Income and Its Disposition, Percent Change from Preceding Period (Months)
                                           [Months seasonally adjusted at monthly rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................         .4        1.4        3.0       -4.4        1.2         .2         .1         .5
  Compensation of employees, received......         .4        1.6        1.4       -1.9         .6         .2         .1         .3
    Wage and salary disbursements..........         .5        1.8        1.5       -2.4         .7         .2         .1         .3
    Supplements to wages and salaries......         .3         .7         .6        -.2         .3         .2         .1         .2
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................         .1         .8         .5        1.1        1.7         .4         .1        -.1
  Rental income of persons with capital
   consumption adjustment..................         .0         .4         .1        2.0        2.3        2.4        -.3        -.1
  Personal income receipts on assets.......        1.5        3.2       15.8      -17.9        4.0        -.3        1.5        1.8
    Personal interest income...............        2.1        2.1        2.0        -.8        -.8        -.8        1.9        1.9
    Personal dividend income...............         .8        4.7       33.2      -34.5       11.0         .4        1.0        1.6
  Personal current transfer receipts.......        -.4         .2         .8         .4         .5         .3        -.6         .8

  Less: Contributions for government social
   insurance, domestic.....................         .5        1.6        1.4       11.3         .6         .2         .1         .3

Less: Personal current taxes...............        1.0        2.0        2.6        1.7        1.3         .7         .7         .8

Equals: Disposable personal income.........         .3        1.4        3.1       -5.2        1.2         .2         .1         .5

Addenda:
  Personal consumption expenditures........         .0         .3         .2         .1         .7         .2        -.3         .3
    Goods..................................        -.4         .2         .2         .0        1.2        -.5       -1.1         .5
      Durable goods........................       -1.1        2.8        1.0         .1         .1        -.3        -.1         .9
      Nondurable goods.....................        -.1       -1.0        -.2        -.1        1.8        -.6       -1.6         .3
    Services...............................         .2         .4         .2         .2         .4         .5         .0         .1
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2005) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real personal income excluding current
   transfer receipts.......................         .4        1.8        3.5       -5.5         .9         .4         .6         .4
  Real disposable personal income..........         .2        1.5        3.1       -5.2         .8         .3         .3         .4
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

              Table 6. Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2011       2012      IV 11       I 12      II 12     III 12      IV 12    I 13\r\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                       Based on current-dollar measures
                                           ----------------------------------------------------------------------------------------
Personal income............................        5.1        3.7        1.3        6.6        3.1        2.4       11.1       -4.7
  Compensation of employees, received......        4.1        3.6        1.1        7.7        1.5        2.4        9.3        -.3
    Wage and salary disbursements..........        4.0        3.7         .9        8.2        1.4        2.3       10.3       -1.0
    Supplements to wages and salaries......        4.4        3.2        1.9        5.5        2.1        2.6        5.1        3.0
  Proprietors' income with inventory
   valuation and capital consumption
   adjustments.............................        4.9        3.9        1.3        6.7        3.6        3.6        6.5       12.8
  Rental income of persons with capital
   consumption adjustment..................       17.3       12.9       16.9       14.7        7.0       17.0        9.2       20.1
  Personal income receipts on assets.......        5.4        3.8       -1.0        2.8        8.4       -4.1       38.7      -23.6
    Personal interest income...............        -.8       -1.6       -6.4        1.5        5.9      -11.7        9.3        1.3
    Personal dividend income...............       16.3       11.9        7.2        4.6       11.9        7.3       86.2      -46.3
  Personal current transfer receipts.......        1.5        2.4         .9        4.9        3.0        3.9        1.9        5.9

  Less: Contributions for government social
   insurance, domestic.....................       -6.5        3.5         .9        8.8         .8        1.8        9.4       65.8

Less: Personal current taxes...............       17.0        5.9        4.4        9.2        4.0        3.1       15.0       22.6

Equals: Disposable personal income.........        3.8        3.5         .9        6.3        2.9        2.3       10.6       -7.7

Addenda:
  Personal consumption expenditures........        5.0        3.6        3.1        5.0        2.2        3.2        3.5        3.6
    Goods..................................        7.7        4.4        5.2        7.3       -1.5        5.6        5.4        3.4
      Durable goods........................        6.2        6.3       11.0       10.4       -1.4        6.3       11.3        6.5
      Nondurable goods.....................        8.4        3.5        2.6        5.9       -1.6        5.2        2.7        2.0
    Services...............................        3.7        3.3        2.0        3.8        4.2        2.0        2.5        3.7
                                           ----------------------------------------------------------------------------------------
                                                                   Based on chained (2005) dollar measures
                                           ----------------------------------------------------------------------------------------
  Real personal income excluding current
   transfer receipts.......................        3.4        2.2         .3        4.4        2.4         .5       11.4       -7.7
  Real disposable personal income..........        1.3        1.7        -.2        3.7        2.2         .7        8.9       -8.6
-----------------------------------------------------------------------------------------------------------------------------------
r Revised

                         Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Billions of chained (2005) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    9,629.5    9,673.0    9,689.0    9,696.8    9,726.4    9,755.5    9,746.3    9,763.2
  Goods....................................    3,447.8    3,481.8    3,498.7    3,504.4    3,516.1    3,519.6    3,514.5    3,537.3
    Durable goods..........................    1,376.1    1,416.0    1,432.7    1,432.9    1,435.7    1,434.6    1,437.1    1,451.1
    Nondurable goods.......................    2,096.7    2,098.4    2,101.4    2,106.4    2,114.9    2,118.8    2,112.5    2,122.7
  Services.................................    6,188.4    6,199.2    6,199.3    6,201.6    6,219.6    6,244.7    6,240.4    6,236.1
                                           ----------------------------------------------------------------------------------------
                                                     Change from preceding period in billions of chained (2005) dollars,
                                                                     seasonally adjusted at annual rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........      -18.3       43.5       16.0        7.8       29.6       29.1       -9.2       16.9
  Goods....................................      -18.1       34.0       16.9        5.7       11.7        3.5       -5.1       22.8
    Durable goods..........................      -13.7       39.9       16.7         .2        2.8       -1.1        2.5       14.0
    Nondurable goods.......................       -6.3        1.7        3.0        5.0        8.5        3.9       -6.3       10.2
  Services.................................       -1.1       10.8         .1        2.3       18.0       25.1       -4.3       -4.3
                                           ----------------------------------------------------------------------------------------
                                                       Percent change from preceding period in chained (2005) dollars,
                                                                     seasonally adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........        -.2         .5         .2         .1         .3         .3        -.1         .2
  Goods....................................        -.5        1.0         .5         .2         .3         .1        -.1         .6
    Durable goods..........................       -1.0        2.9        1.2         .0         .2        -.1         .2        1.0
    Nondurable goods.......................        -.3         .1         .1         .2         .4         .2        -.3         .5
  Services.................................         .0         .2         .0         .0         .3         .4        -.1        -.1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

                   Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
                                          [Quarters seasonally adjusted at annual rates]
-----------------------------------------------------------------------------------------------------------------------------------
                                                  2011       2012      IV 11       I 12      II 12     III 12      IV 12    I 13\r\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                      Billions of chained (2005) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........    9,428.8    9,603.3    9,489.3    9,546.8    9,582.5    9,620.1    9,663.9    9,726.2
  Goods....................................    3,331.0    3,432.9    3,367.9    3,406.6    3,409.4    3,439.7    3,476.1    3,513.4
    Durable goods..........................    1,262.6    1,360.9    1,300.1    1,336.1    1,335.3    1,364.0    1,408.3    1,434.4
    Nondurable goods.......................    2,075.2    2,094.5    2,080.5    2,088.9    2,092.0    2,098.2    2,098.8    2,113.4
  Services.................................    6,101.5    6,176.6    6,126.0    6,145.9    6,178.2    6,186.7    6,195.6    6,221.9
                                           ----------------------------------------------------------------------------------------
                                                                       Change from preceding period in
                                                                      billions of chained (2005) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........      232.6      174.5       47.4       57.5       35.7       37.6       43.8       62.3
  Goods....................................      121.9      101.9       44.4       38.7        2.8       30.3       36.4       37.3
    Durable goods..........................       84.3       98.3       41.5       36.0        -.8       28.7       44.3       26.1
    Nondurable goods.......................       45.9       19.3        9.1        8.4        3.1        6.2         .6       14.6
  Services.................................      113.9       75.1        4.9       19.9       32.3        8.5        8.9       26.3
                                           ----------------------------------------------------------------------------------------
                                                                     Percent change from preceding period
                                                                          in chained (2005) dollars
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures..........        2.5        1.9        2.0        2.4        1.5        1.6        1.8        2.6
  Goods....................................        3.8        3.1        5.4        4.7         .3        3.6        4.3        4.4
    Durable goods..........................        7.2        7.8       13.9       11.5        -.2        8.9       13.6        7.6
    Nondurable goods.......................        2.3         .9        1.8        1.6         .6        1.2         .1        2.8
  Services.................................        1.9        1.2         .3        1.3        2.1         .6         .6        1.7
-----------------------------------------------------------------------------------------------------------------------------------
r Revised

       Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
                                           ----------------------------------------------------------------------------------------
                                                                     Chain-type price indexes (2005=100),
                                                                             seasonally adjusted
                                           ----------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....    116.518    116.358    116.360    116.434    116.905    116.764    116.467    116.563
  Goods....................................    111.218    110.378    110.054    109.858    110.845    110.191    109.122    108.943
    Durable goods..........................     89.044     88.929     88.726     88.772     88.691     88.515     88.270     88.192
    Nondurable goods.......................    124.442    123.137    122.737    122.376    124.071    123.102    121.490    121.246
  Services.................................    119.344    119.564    119.749    119.977    120.156    120.305    120.444    120.694
Addenda:
  PCE excluding food and energy............    114.127    114.222    114.274    114.499    114.584    114.642    114.654    114.774
  Food\1\..................................    121.183    121.430    121.677    121.679    121.876    121.953    122.067    121.762
  Energy goods and services\2\.............    150.702    145.182    143.848    141.095    149.293    145.204    138.662    138.895
  Market-based PCE\3\......................    116.535    116.307    116.301    116.412    116.957    116.800    116.378    116.477
  Market-based PCE excluding food
   and energy\3\...........................    113.766    113.820    113.872    114.163    114.273    114.343    114.258    114.385
                                           ----------------------------------------------------------------------------------------
                                                                     Percent change from preceding period
                                                                         in price indexes, seasonally
                                                                          adjusted at monthly rates
                                           ----------------------------------------------------------------------------------------
PCE........................................         .2        -.1         .0         .1         .4        -.1        -.3         .1
  Goods....................................         .1        -.8        -.3        -.2         .9        -.6       -1.0        -.2
    Durable goods..........................        -.2        -.1        -.2         .1        -.1        -.2        -.3        -.1
    Nondurable goods.......................         .2       -1.0        -.3        -.3        1.4        -.8       -1.3        -.2
  Services.................................         .2         .2         .2         .2         .1         .1         .1         .2
Addenda:
  PCE excluding food and energy............         .2         .1         .0         .2         .1         .1         .0         .1
  Food\1\..................................         .2         .2         .2         .0         .2         .1         .1        -.2
  Energy goods and services\2\.............         .2       -3.7        -.9       -1.9        5.8       -2.7       -4.5         .2
  Market-based PCE\3\......................         .1        -.2         .0         .1         .5        -.1        -.4         .1
  Market-based PCE excluding food
   and energy\3\...........................         .1         .0         .0         .3         .1         .1        -.1         .1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Food consists of food and beverages purchased for off-premises
   consumption; food services, which include purchased meals and
   beverages, are not classified as food.
2. Consists of gasoline and other energy goods and of electricity
   and gas services.
3. Market-based PCE is a supplemental measure that is based on household
   household expenditures for which there are observable price measures.
   It excludes most imputed transactions (for example, financial services
   furnished without payment) and the final consumption expenditures of
   nonprofit institutions serving households.

   Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
Disposable personal income.................        1.6        3.5        6.4         .3         .7         .8        1.1        1.1

Personal consumption expenditures..........        1.5        1.9        2.1        1.9        1.7        2.0        1.7        1.8
  Goods....................................        2.4        3.4        3.9        3.3        3.0        3.1        2.9        3.7
    Durable goods..........................        6.4        9.0        9.5        7.9        7.1        7.0        7.5        8.8
    Nondurable goods.......................         .5         .8        1.3        1.2        1.1        1.2         .8        1.4
  Services.................................        1.1        1.2        1.1        1.2        1.1        1.5        1.1         .9
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised

               Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago
-----------------------------------------------------------------------------------------------------------------------------------
                                                Oct 12     Nov 12     Dec 12  Jan 13\r\  Feb 13\r\  Mar 13\r\  Apr 13\r\  May 13\p\
-----------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures (PCE)....        1.8        1.5        1.5        1.3        1.4        1.0         .7        1.0
  Goods....................................        1.4         .7         .6         .1         .4        -.5       -1.1        -.5
    Durable goods..........................       -1.7       -1.6       -1.6       -1.6       -1.7       -1.7       -1.8       -1.9
    Nondurable goods.......................        2.9        1.8        1.7        1.0        1.5         .2        -.8         .2
  Services.................................        1.9        2.0        1.9        1.9        1.8        1.8        1.7        1.8
Addenda:
  PCE excluding food and energy............        1.6        1.5        1.4        1.4        1.3        1.2        1.1        1.1
  Food\1\..................................         .9        1.2        1.2        1.0        1.2        1.1        1.1        1.0
  Energy goods and services\2\.............        5.3        1.9        2.4         .1        2.3       -1.6       -4.3         .6
  Market-based PCE\3\......................        1.8        1.6        1.5        1.3        1.5        1.1         .7        1.0
  Market-based PCE excluding food
   and energy\3\...........................        1.7        1.6        1.4        1.5        1.4        1.3        1.1        1.1
-----------------------------------------------------------------------------------------------------------------------------------
p Preliminary
r Revised
1. Food consists of food and beverages purchased for off-premises
   consumption; food services, which include purchased meals and
   beverages, are not classified as food.
2. Consists of gasoline and other energy goods and of electricity
   and gas services.
3. Market-based PCE is a supplemental measure that is based on household
   household expenditures for which there are observable price measures.
   It excludes most imputed transactions (for example, financial services
   furnished without payment) and the final consumption expenditures of
   nonprofit institutions serving households.