News Release

FOR WIRE TRANSMISSION: 8:30 A.M. EDT, TUESDAY, AUGUST 1, 2000
BEA 00-23

Personal Income, June 2000




The entire release is available in PDF format.
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James E. Rankin: (202) 606-5301 (Personal Income) BEA 00-23 Greg Key: 606-5302 (Personal Outlays) Recorded message: 606-5303
Carol Moylan:                606-9515  (Annual Revision)
                PERSONAL INCOME AND OUTLAYS:  JUNE 2000
                    REVISED ESTIMATES:1997-MAY 2000
 Personal income increased $32.8 billion, or 0.4 percent, and disposable personal income (DPI)
increased $20.8 billion, or 0.3 percent, in June, according to the Commerce Department's Bureau of
Economic Analysis.  Personal consumption expenditures (PCE) increased $32.5 billion, or 0.5
percent.  In May, personal income increased $27.1 billion, or 0.3 percent, DPI increased $22.2
billion, or 0.3 percent, and PCE increased $18.7 billion, or 0.3 percent, based on revised estimates.
                                                                   2000
                                        Feb.          Mar.        Apr.         May        June
                                                  (Percent change from preceding month)
Personal income, current dollars        0.5           0.8         0.6          0.3         0.4
Disposable personal income:
    Current dollars                      .4            .8          .5           .3          .3
    Chained (1996) dollars              -.1            .3          .4           .3          .0
Personal consumption expenditures:
    Current dollars                     1.2            .5          .2           .3          .5
    Chained (1996) dollars               .7            .1          .2           .3          .2
  The estimates released today reflect revisions in the national income and product accounts
beginning with the January 1997.  Revisions are usually made each July to incorporate source data that
are more complete, more detailed, and otherwise more appropriate than previously available.  This
release includes revised monthly personal income, disposable personal income, and outlays and
provides an overview of the effects of the revision.  The August 2000 Survey of Current Business will
contain national income and product accounts tables and an article describing the revisions.  The revised
estimates will be available from BEA's Web site and from STAT-USA's Web site (see page 6).
Wages and salaries
 Private wage and salary disbursements increased $27.0 billion in June, in contrast to a decrease
of $1.3 billion in May.  Goods-producing industries' payrolls increased $5.9 billion, in contrast to a
decrease of $6.9 billion; manufacturing payrolls increased $4.8 billion, in contrast to a decrease of
$4.8 billion.  Distributive industries' payrolls increased $8.7 billion, compared with an increase of
$1.7 billion.  Service industries' payrolls increased $12.4 billion, compared with an increase of $3.9
billion.
 Government wage and salary disbursements decreased $1.3 billion in June, in contrast to an
increase of $6.0 billion in May.  The decline in the number of temporary workers for Census 2000
subtracted $2.7 billion at an annual rate from federal civilian payrolls in June; the hiring of
additional temporary workers had added $5.2 billion at an annual rate in May.
Other personal income
 Proprietors' income increased $12.8 billion in June, in contrast to a decrease of $3.1 billion in
May.  Farm proprietors' income increased $6.9 billion, in contrast to a decrease of $5.3 billion.  The
changes in farm proprietors' income reflected the pattern of specially authorized federal farm
subsidy payments, which were $5.4 billion at an annual rate in June, $0.5 billion at an annual rate in
May, and $7.5 billion at an annual rate in April.  Nonfarm proprietors' income increased $6.0 billion
in June, compared with an increase of $2.2 billion in May.
 Transfer payments decreased $8.9 billion in June, in contrast to an increase of $23.3 billion in
May.  The May increase had included benefit payments of $19.2 billion at an annual rate, resulting
from new legislation under the Senior Citizens' Freedom to Work Act of 2000 that eliminated the
"retirement earnings test" and allowed social security beneficiaries aged 65 and older to receive full
benefits regardless of their earnings.  Prior to enactment, these beneficiaries had their benefits
reduced by $1 for every $3 earned over the annual earning limit, which is $17,000 for calendar year
2000.
 Personal interest income increased $2.0 billion in June, compared with an increase of $2.6
billion in May.  Personal dividend income increased $2.4 billion, compared with an increase of $1.8
billion.  Rental income of persons decreased $1.4 billion, compared with a decrease of $4.0 billion.
 Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $1.8 billion in June, compared with an increase of $0.4 billion in May.
Personal taxes and disposable personal income
 Personal tax and nontax payments increased $12.0 billion in June, compared with an increase
of $4.9 billion in May.  Disposable personal income (DPI) -- personal income less personal tax and
nontax payments -- increased $20.8 billion, or 0.3 percent, in June, compared with an increase of
$22.2 billion, or 0.3 percent, in May.
Personal outlays and personal saving
 Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $33.8 billion in June, compared with an increase of $20.1 billion in May.
PCE increased $32.5 billion, compared with an increase of $18.7 billion.
 Personal saving -- DPI less personal outlays -- was $8.2 billion in June, compared with $21.2
billion in May.  Saving from current income may be near zero or negative when outlays are financed
by borrowing -- including through credit cards or home equity loans -- selling investments or other
assets, or by using savings from previous periods.  Personal saving as a percentage of disposable
personal income was 0.1 percent in June, compared with 0.3 percent in May.
Real DPI and real PCE
 Real DPI -- DPI adjusted to remove price changes -- increased less than 0.1 percent in June,
compared with an increase of 0.3 percent in May.  The smaller growth in real DPI than in current-
dollar DPI is attributable to the acceleration in the PCE implicit price deflator (IPD) that is used to
deflate DPI; the IPD increased 0.3 percent in June, compared with an increase of less than 0.1
percent in May.
 Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in June, compared
with an increase of 0.3 percent in May.  Purchases of durable goods increased 0.9 percent, in
contrast to a decrease of 0.8 percent.  Purchases of motor vehicles and parts accounted for most of
the June increase and more than accounted for the May decrease.  Purchases of nondurable goods
decreased 0.1 percent in June, in contrast to an increase of 0.6 percent in May.  Purchases of services
increased 0.2 percent, compared with an increase of 0.3 percent.
Table changes
 This release includes two table changes.  Table 4 now presents chain-type price indexes for
PCE instead of implicit price deflators.  In addition, table 4 now includes an addendum that
presents the chain-type price index for PCE excluding food and energy.
Annual Revision of the National Income and Product Account Estimates
   As a result of the annual revision to the national income and product accounts (NIPA's),
personal income, personal outlays, disposable personal income (DPI), personal saving, and personal
saving as a percentage of DPI are revised beginning with January 1997.  The NIPA's usually are
revised each July to incorporate new source data that are more complete, more detailed, and
otherwise more appropriate than data previously available.
 The revised estimates incorporate a new data source for employer contributions to group health
insurance, which accounts for about one-half of other labor income.  The revised estimates are based
on the medical expenditure panel survey (MEPS) -- a new Department of Health and Human
Services survey that covers both health insurance purchased by employers for their employees and
health insurance provided by employers on a self-insurance basis.
 Revisions to the estimates of personal income and outlays for 1997 forward are shown in table
6.  Revised and previously published estimates of personal income, DPI, PCE, and personal saving
as a percentage of DPI are shown in table 7.  Revised and previously published estimates of real
DPI, real PCE, and the PCE implicit price deflator are shown in table 8.
 Personal income was revised down $14.1 billion for 1997, revised up $32.1 billion for 1998,
and revised down $2.2 billion for 1999.  For 1997, a downward revision to other labor income more
than offset upward revisions to personal interest income and to proprietors' income.  For 1998,
upward revisions to personal interest income, to proprietors' income, to wage and salary
disbursements, and to personal dividend income more than offset downward revisions to other labor
income and to rental income of persons.  For 1999, downward revisions to other labor income, to
rental income of persons, to wage and salary disbursements, and to transfer payments to persons
more than offset upward revisions to personal interest income, to personal dividend income, and to
proprietors' income; an upward revision to personal contributions for social insurance -- a
subtraction in calculating personal income -- also contributed to the downward revision.
 Personal tax and nontax payments was revised up $0.5 billion for 1997, revised down $1.7
billion for 1998, and revised down $0.1 billion for 1999.  DPI was revised down $14.6 billion for
1997, revised up $33.8 billion for 1998, and revised down $2.0 billion for 1999.  The percent change
from the preceding year in real DPI was revised down from 3.3 percent to 3.1 percent for 1997,
revised up from 4.1 percent to 4.8 percent for 1998, and revised down from 4.0 percent to 3.2
percent for 1999.
 Personal outlays was revised up $3.6 billion for 1997, revised down $1.9 billion for 1998, and
revised up $6.8 billion for 1999.  For 1997, the revision was more than accounted for by PCE.  For
1998, the revision reflected a downward revision to interest paid by persons that more than offset an
upward revision to PCE.  For 1999, the revision reflected upward revisions to PCE and to personal
transfer payments to the rest of the world (net) that more than offset a downward revision to interest
paid by persons.
 Personal saving as a percentage of DPI was revised down from 4.5 percent to 4.2 percent for
1997, revised up from 3.7 percent to 4.2 percent for 1998, and revised down from 2.4 percent to 2.2
percent for 1999.

 BEA's major national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site:
                           <www.bea.doc.gov>
 STAT-USA maintains an Internet site that contains BEA estimates, the Survey of Current
Business, and BEA news releases.  The information available through STAT-USA is often more
detailed and more timely than that available from other sources.  For information about STAT-USA,
go to <www.stat-usa.gov>, or call (202) 482-1986.  Subscriptions for single-user unlimited access to
STAT-USA's Internet information are $75.00 for 3 months or $175.00 for 1 year.
 Summary BEA estimates are available on recorded messages at the time of public release at the
following telephone numbers:
    (202)  606-5306   Gross domestic product
           606-5303   Personal income and outlays
           606-5362   U.S. international transactions
    Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal.  The printed Survey of Current Business is available from the Superintendent of
Documents, U.S. Government Printing Office, Washington, DC 20402.  First class mail: Annual
subscription $120.00 domestic.  Second class mail: Annual subscription $48.00 domestic, $60.00
foreign; single issue $17.25 domestic, $21.56 foreign.
                        *          *          *
Next release -- Personal Income and Outlays for July will be released on
                  August 28, 2000, at 8:30 A.M. EDT.



                                                                                                                                                  Table 1. -- Personal Income
                                                                                                                                                    [Billions of dollars]
                                                                                                                                              Seasonally adjusted at annual rates
                                                              1995        1996       1997                                                                                    1997
                                                                                                   Jan.           Feb.           Mar.          Apr.           May            June          July           Aug.         Sep.         Oct.         Nov.         Dec.
   Personal income                                           6,200.9     6,547.4    6,937.0       6,754.8       6,792.1         6,830.4       6,850.2        6,877.5       6,909.5       6,937.4        6,982.4      7,016.0      7,058.0      7,103.1      7,132.7
        Wage and salary disbursements                        3,424.7     3,626.5    3,888.9       3,758.6       3,791.8         3,817.9       3,828.9        3,847.7       3,867.1       3,885.8        3,921.4      3,939.7      3,969.9      4,011.1      4,026.8
             Private industries                              2,802.0     2,985.5    3,224.7       3,103.4       3,134.4         3,159.8       3,169.1        3,186.6       3,204.3       3,220.8        3,255.0      3,271.7      3,299.2      3,338.5      3,352.8
                  Goods-producing industries                   863.6       908.2      975.1         944.8         951.0           958.3         961.0          965.2         968.2         972.9          981.2        985.7        996.2      1,004.7      1,012.4
                       Manufacturing                           647.5       673.7      718.4         698.6         701.3           706.3         708.8          710.4         712.9         716.1          722.3        724.8        733.7        740.1        745.0
                  Distributive industries                      782.1       822.4      879.6         848.6         855.9           864.6         865.8          869.3         872.8         877.7          888.7        892.7        898.6        910.8        909.5
                  Service industries                         1,156.3     1,254.9    1,369.9       1,310.0       1,327.5         1,336.9       1,342.3        1,352.1       1,363.4       1,370.3        1,385.0      1,393.3      1,404.4      1,423.0      1,431.0
             Government                                        622.7       641.0      664.3         655.2         657.4           658.1         659.8          661.0         662.8         665.0          666.5        668.0        670.7        672.6        674.0
        Other labor income                                     497.0       490.0      475.4         486.1         482.7           479.4         477.1          475.0         473.4         472.3          471.6        471.3        470.7        471.7        473.5
        Proprietors' income with IVA and CCAdj                 497.7       544.7      581.2         566.1         570.9           573.0         573.3          575.6         579.2         583.4          584.6        589.9        594.0        589.9        594.0
             Farm                                               22.2        34.3       29.7          31.1          30.5            30.1          29.8           29.6          29.5          29.9           29.8         29.6         29.6         29.0         28.1
             Nonfarm                                           475.5       510.5      551.5         535.0         540.3           542.9         543.5          546.0         549.7         553.6          554.8        560.3        564.5        561.0        565.9
        Rental income of persons with CCAdj                    117.9       129.7      128.3         130.9         130.4           129.9         129.4          128.9         128.4         127.7          127.3        127.0        126.8        126.6        126.6
        Personal dividend income                               254.0       297.4      334.9         317.4         321.0           324.8         328.1          331.5         334.9         337.6          340.3        343.0        345.2        347.0        348.1
        Personal interest income                               792.5       810.6      864.0         830.1         834.4           839.8         847.9          854.2         860.3         865.2          871.7        878.9        887.4        895.1        902.7
        Transfer payments  to persons                          885.9       928.8      962.2         955.6         952.9           959.3         959.8          960.1         962.9         963.0          965.3        967.1        966.7        966.9        967.0
             Old-age, survivors, disability, and health
                  insurance  benefits                          508.0       537.6      565.8         560.5         557.1           562.5         563.5          565.4         566.2         567.2          569.7        569.2        570.0        569.2        569.1
             Government unemployment insurance benefits         21.5        22.1       19.9          20.8          20.7            20.6          20.5           19.7          20.1          19.4           18.8         20.0         18.8         19.4         19.8
             Other                                             356.5       369.1      376.5         374.3         375.2           376.2         375.8          375.1         376.7         376.3          376.8        378.0        377.9        378.2        378.1
        Less:  Personal contributions for social insurance     268.8       280.4      297.9         289.9         292.1           293.7         294.4          295.5         296.7         297.7          299.9        300.9        302.7        305.2        305.9
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source: U.S. Department of Commerce, Bureau of Economic Analysis.

                                                                                                                                 Table 1. -- Personal Income--Continued
                                                                                                                                            [Billions of dollars]
                                                                                                                                    Seasonally adjusted at annual rates
                                                                          1996       1997        1998                                                                      1998
                                                                                                            Jan.          Feb.        Mar.          Apr.        May        June          July        Aug.        Sep.        Oct.        Nov.       Dec.
   Personal income                                                       6,547.4    6,937.0     7,391.0     7,186.5      7,233.7     7,272.0       7,299.3    7,344.2     7,375.0      7,410.8     7,451.5     7,473.0     7,508.1     7,575.2    7,562.6
        Wage and salary disbursements                                    3,626.5    3,888.9     4,190.7     4,057.9      4,089.0     4,107.8       4,125.5    4,160.3     4,174.4      4,196.4     4,233.9     4,248.3     4,273.2     4,302.5    4,318.9
             Private industries                                          2,985.5    3,224.7     3,498.0     3,378.9      3,406.7     3,423.9       3,439.3    3,471.1     3,483.3      3,503.1     3,536.8     3,548.7     3,571.4     3,598.9    3,613.8
                  Goods-producing industries                               908.2      975.1     1,038.6     1,018.4      1,021.8     1,025.1       1,028.4    1,033.5     1,033.3      1,032.3     1,045.8     1,050.7     1,053.6     1,057.6    1,063.1
                       Manufacturing                                       673.7      718.4       756.6       746.3        748.8       751.4         752.3      755.7       753.6        749.6       760.1       765.1       764.2       765.2      766.8
                  Distributive industries                                  822.4      879.6       949.1       918.2        926.1       927.9         931.9      942.4       944.2        951.1       959.0       963.3       967.7       977.5      979.8
                  Service industries                                     1,254.9    1,369.9     1,510.3     1,442.4      1,458.8     1,471.0       1,479.0    1,495.2     1,505.8      1,519.7     1,532.0     1,534.7     1,550.1     1,563.8    1,571.0
             Government                                                    641.0      664.3       692.7       679.0        682.3       683.9         686.2      689.1       691.2        693.3       697.2       699.6       701.7       703.7      705.1
        Other labor income                                                 490.0      475.4       485.5       477.9        480.1       481.9         482.5      483.8       485.0        486.3       487.5       488.6       489.6       490.8      492.2
        Proprietors' income with IVA and CCAdj                             544.7      581.2       620.7       601.3        605.4       611.8         610.8      611.6       617.4        621.2       617.9       619.5       630.8       661.6      638.8
             Farm                                                           34.3       29.7        25.4        26.3         25.2        24.4          23.9       23.3        22.6         21.5        21.1        21.0        23.7        50.3       22.1
             Nonfarm                                                       510.5      551.5       595.2       575.1        580.2       587.5         586.8      588.3       594.8        599.8       596.8       598.5       607.1       611.3      616.7
        Rental income of persons with CCAdj                                129.7      128.3       135.4       125.8        126.5       127.8         130.8      132.8       134.8        137.3       138.9       140.1       140.8       147.5      142.3
        Personal dividend income                                           297.4      334.9       351.1       348.1        348.4       348.8         349.1      349.3       349.7        350.1       350.8       352.1       354.1       355.7      357.3
        Personal interest income                                           810.6      864.0       940.8       910.1        917.7       925.3         934.3      940.9       946.5        952.1       955.7       955.8       953.3       950.3      947.2
        Transfer payments  to persons                                      928.8      962.2       983.0       974.2        977.1       980.0         978.7      980.0       982.2        983.9       985.4       988.0       987.2       989.5      989.8
             Old-age, survivors, disability, and health
                  insurance  benefits                                      537.6      565.8       578.0       575.5        576.8       578.8         577.4      577.8       578.1        579.2       579.0       580.4       578.3       577.9      577.4
             Government unemployment insurance benefits                     22.1       19.9        19.5        18.8         19.2        19.5          18.8       19.2        19.3         20.1        20.5        19.7        18.9        20.3       20.1
             Other                                                         369.1      376.5       385.4       379.9        381.1       381.6         382.5      383.0       384.8        384.6       386.0       387.9       390.0       391.3      392.3
        Less:  Personal contributions for social insurance                 280.4      297.9       316.2       308.9        310.5       311.5         312.4      314.4       315.1        316.4       318.6       319.4       320.9       322.7      323.8
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source: U.S. Department of Commerce, Bureau of Economic Analysis.


                                                                                                                                             Table 1. -- Personal Income--Continued
                                                                                                                                                    [Billions of dollars]
                                                                                                                                              Seasonally adjusted at annual rates
                                                                  1997        1998        1999                                                                      1999
                                                                                                          Jan.        Feb.        Mar.        Apr.        May        June          July         Aug.         Sep.        Oct.        Nov.        Dec.
   Personal income                                               6,937.0     7,391.0      7,789.6        7,595.3     7,632.1     7,656.9     7,690.1    7,716.0     7,783.0      7,797.4      7,841.1      7,847.0     7,945.7     7,977.0     7,994.3
        Wage and salary disbursements                            3,888.9     4,190.7      4,470.0        4,340.7     4,370.1     4,382.1     4,407.8    4,428.6     4,454.8      4,484.8      4,508.5      4,527.7     4,559.6     4,572.6     4,602.7
             Private industries                                  3,224.7     3,498.0      3,745.6        3,627.7     3,654.5     3,664.6     3,689.1    3,708.5     3,732.5      3,760.1      3,780.8      3,797.8     3,827.4     3,838.2     3,865.9
                  Goods-producing industries                       975.1     1,038.6      1,089.2        1,062.2     1,067.3     1,069.7     1,076.2    1,081.0     1,087.7      1,094.8      1,095.6      1,103.0     1,110.7     1,109.6     1,113.2
                       Manufacturing                               718.4       756.6        782.4          766.1       768.1       770.1       773.2      777.0       782.0        787.0        788.0        792.1       797.5       793.4       794.3
                  Distributive industries                          879.6       949.1      1,020.3          984.7       995.8       995.9     1,004.5    1,007.9     1,017.2      1,024.6      1,031.7      1,033.4     1,041.7     1,046.5     1,060.1
                  Service industries                             1,369.9     1,510.3      1,636.0        1,580.8     1,591.5     1,599.0     1,608.4    1,619.7     1,627.6      1,640.7      1,653.5      1,661.3     1,675.0     1,682.1     1,692.6
             Government                                            664.3       692.7        724.4          712.9       715.5       717.4       718.7      720.1       722.3        724.8        727.7        729.9       732.2       734.4       736.9
        Other labor income                                         475.4       485.5        501.0          493.8       495.1       496.4       497.4      498.7       500.0        501.4        502.8        504.3       505.8       507.4       509.0
        Proprietors' income with IVA and CCAdj                     581.2       620.7        663.5          639.6       644.3       648.4       653.8      649.2       678.2        659.2        665.0        655.1       688.9       698.8       681.2
             Farm                                                   29.7        25.4         25.3           24.0        26.2        24.7        25.6       22.3        39.1         17.6         16.0         13.0        39.7        39.6        15.8
             Nonfarm                                               551.5       595.2        638.2          615.5       618.1       623.7       628.2      626.9       639.1        641.6        649.0        642.0       649.2       659.1       665.5
        Rental income of persons with CCAdj                        128.3       135.4        143.4          144.2       145.3       145.2       145.2      144.3       147.6        141.7        141.2        127.0       146.5       148.0       144.1
        Personal dividend income                                   334.9       351.1        370.3          359.0       360.7       362.6       364.7      366.8       368.9        371.2        373.5        375.8       378.0       380.2       382.4
        Personal interest income                                   864.0       940.8        963.7          945.2       944.7       945.5       947.5      950.8       955.6        963.2        969.4        975.8       984.4       989.5       993.1
        Transfer payments  to persons                              962.2       983.0      1,016.2        1,002.5     1,003.5     1,009.1     1,008.0    1,013.3     1,015.3      1,015.4      1,021.7      1,023.8     1,027.0     1,026.0     1,029.2
             Old-age, survivors, disability, and health
                  insurance  benefits                              565.8       578.0        588.0          583.0       582.9       584.5       585.4      585.8       587.0        588.1        589.9        591.0       593.1       591.3       593.9
             Government unemployment insurance benefits             19.9        19.5         20.3           20.4        20.3        20.6        19.2       21.9        20.7         19.4         21.0         20.2        20.5        20.3        19.6
             Other                                                 376.5       385.4        407.9          399.0       400.3       404.0       403.4      405.6       407.7        407.9        410.8        412.7       413.4       414.4       415.7
        Less:  Personal contributions for social insurance         297.9       316.2        338.5          329.5       331.6       332.4       334.2      335.7       337.5        339.5        341.1        342.4       344.6       345.5       347.5
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source: U.S. Department of Commerce, Bureau of Economic Analysis.


                                                                            Table 1. -- Personal Income--Continued
                                                                                     [Billions of dollars]
                                                                            Seasonally adjusted at annual rates
                                                                  1999                                    2000
                                                                              Jan.         Feb.        Mar.          Apr.         May      June /p/
   Personal income                                               7,789.6     8,056.4       8,099.6     8,161.6     8,206.8     8,233.9     8,266.7
        Wage and salary disbursements                            4,470.0     4,637.4       4,657.8     4,685.9     4,724.5     4,729.2     4,754.8
             Private industries                                  3,745.6     3,890.6       3,908.5     3,932.3     3,967.5     3,966.2     3,993.2
                  Goods-producing industries                     1,089.2     1,125.9       1,128.8     1,138.0     1,147.3     1,140.4     1,146.3
                       Manufacturing                               782.4       800.7         802.9       804.8       812.6       807.8       812.6
                  Distributive industries                        1,020.3     1,065.9       1,070.7     1,076.2     1,089.9     1,091.6     1,100.3
                  Service industries                             1,636.0     1,698.8       1,708.9     1,718.0     1,730.2     1,734.1     1,746.5
             Government                                            724.4       746.9         749.2       753.6       757.0       763.0       761.7
        Other labor income                                         501.0       511.8         514.1       516.2       518.4       520.5       522.6
        Proprietors' income with IVA and CCAdj                     663.5       685.1         690.0       706.6       707.5       704.4       717.2
             Farm                                                   25.3        17.3          18.4        21.7        23.3        18.0        24.9
             Nonfarm                                               638.2       667.9         671.7       684.9       684.2       686.4       692.4
        Rental income of persons with CCAdj                        143.4       144.4         145.3       147.0       144.7       140.7       139.3
        Personal dividend income                                   370.3       384.7         387.0       388.9       390.6       392.4       394.8
        Personal interest income                                   963.7     1,002.1       1,011.4     1,021.2     1,025.3     1,027.9     1,029.9
        Transfer payments  to persons                            1,016.2     1,042.5       1,047.3     1,050.9     1,053.5     1,076.8     1,067.9
             Old-age, survivors, disability, and health
                  insurance  benefits                              588.0       605.0         607.7       611.1       613.4       634.4       625.3
             Government unemployment insurance benefits             20.3        20.2          20.5        19.7        19.1        18.8        19.7
             Other                                                 407.9       417.3         419.1       420.1       421.0       423.6       423.0
        Less:  Personal contributions for social insurance         338.5       351.8         353.2       355.2       357.7       358.1       359.9
        p  Preliminary.
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source: U.S. Department of Commerce, Bureau of Economic Analysis.

                      	                                               	         	        	        	        	          	       Table 2. -- The Disposition of Personal Income
                                                                                                                                        [Billions of dollars]
                                                                                                                                  Seasonally adjusted at annual rates
                                                          1995        1996         1997                                                                1997
                                                                                              Jan.         Feb.       Mar.      Apr.        May         June        July       Aug.        Sep.       Oct.        Nov.        Dec.
Personal income                                          6,200.9     6,547.4      6,937.0    6,754.8     6,792.1    6,830.4   6,850.2     6,877.5     6,909.5      6,937.4    6,982.4     7,016.0    7,058.0     7,103.1     7,132.7
Less: Personal tax and nontax payments                     778.3       869.7        968.8      926.1       936.0      943.1     946.8       954.8       963.1        969.6      980.1       986.9      996.0     1,008.2     1,014.8
Equals: Disposable personal income                       5,422.6     5,677.7      5,968.2    5,828.7     5,856.0    5,887.3   5,903.4     5,922.7     5,946.5      5,967.8    6,002.3     6,029.0    6,062.0     6,094.9     6,117.9
Less: Personal outlays                                   5,120.2     5,405.6      5,715.3    5,587.9     5,612.6    5,627.0   5,644.3     5,637.4     5,680.5      5,746.9    5,764.1     5,780.0    5,809.5     5,833.5     5,859.9
     Personal consumption expenditures                   4,969.0     5,237.5      5,529.3    5,410.2     5,433.3    5,446.3   5,461.8     5,454.1     5,496.4      5,560.8    5,576.6     5,590.2    5,616.5     5,640.2     5,665.0
     Interest paid by persons                              134.7       149.9        164.8      157.5       159.0      160.4     162.1       162.9       163.7        164.8      166.3       168.6      170.2       170.4       172.0
     Personal transfer payments to the
          rest of the world (net)                           16.5        18.2         21.2       20.3        20.3       20.3      20.4        20.4        20.4         21.2       21.2        21.2       22.9        22.9        22.9
Equals: Personal saving                                    302.4       272.1        252.9      240.7       243.4      260.2     259.1       285.3       265.9        220.9      238.2       249.0      252.5       261.4       258.1
Addenda:
     Disposable personal income:
          Chained (1996) dollars /1/                     5,539.1     5,677.7      5,854.5    5,755.4     5,767.5    5,792.6   5,802.2     5,822.2     5,839.3      5,853.1    5,882.1     5,896.5    5,919.9     5,950.4     5,972.2
          Per capita:
               Current dollars                            20,613      21,385       22,262     21,837      21,925     22,026    22,069      22,124      22,194       22,253     22,360      22,439     22,543      22,649      22,719
               Chained (1996) dollars                     21,055      21,385       21,838     21,562      21,593     21,671    21,691      21,748      21,794       21,825     21,912      21,946     22,015      22,112      22,178
          Population (thousands)                         263,073     265,504      268,087    266,924     267,099    267,293   267,498     267,709     267,933      268,180    268,437     268,681    268,904     269,099     269,284
     Personal saving as a percentage of
          disposable personal income                         5.6         4.8          4.2        4.1         4.2        4.4       4.4         4.8         4.5          3.7        4.0         4.1        4.2         4.3         4.2
   1.  Disposable personal income in chained (1996) dollars equals the current-dollar figure divided
by the implicit price deflator for personal consumption expenditures.
Source:  U.S. Department of Commerce, Bureau of Economic Analysis.
                                                                                                      Table 2. -- The Disposition of Personal Income--Continued
                                                                                                               [Billions of dollars]
                                                                                                           Seasonally adjusted at annual rates
                                                1996       1997       1998                                                               1998
                                                                                  Jan.       Feb.       Mar.        Apr.       May       June       July        Aug.        Sep.       Oct.      Nov.      Dec.
Personal income                                6,547.4    6,937.0    7,391.0     7,186.5    7,233.7   7,272.0     7,299.3    7,344.2    7,375.0    7,410.8     7,451.5     7,473.0    7,508.1   7,575.2   7,562.6
Less: Personal tax and nontax payments           869.7      968.8    1,070.9     1,028.3    1,038.3   1,040.9     1,044.8    1,058.0    1,066.5    1,073.6     1,086.9     1,091.6    1,098.0   1,108.5   1,115.9
Equals: Disposable personal income             5,677.7    5,968.2    6,320.0     6,158.2    6,195.3   6,231.1     6,254.5    6,286.3    6,308.5    6,337.2     6,364.6     6,381.5    6,410.0   6,466.7   6,446.7
Less: Personal outlays                         5,405.6    5,715.3    6,054.7     5,874.0    5,910.1   5,943.6     5,963.2    6,021.5    6,053.8    6,067.0     6,099.4     6,132.2    6,167.7   6,187.3   6,236.4
     Personal consumption expenditures         5,237.5    5,529.3    5,850.9     5,678.5    5,713.5   5,745.9     5,763.4    5,820.5    5,850.3    5,862.0     5,893.3     5,924.9    5,957.7   5,975.9   6,024.5
     Interest paid by persons                    149.9      164.8      179.8       173.0      174.0     175.1       175.8      176.9      179.4      180.8       181.8       183.0      184.9     186.2     186.8
     Personal transfer payments to the
          rest of the world (net)                 18.2       21.2       24.0        22.6       22.6      22.6        24.1       24.1       24.1       24.3        24.3        24.3       25.1      25.1      25.1
Equals: Personal saving                          272.1      252.9      265.4       284.1      285.3     287.5       291.2      264.7      254.7      270.2       265.2       249.3      242.3     279.4     210.3
Addenda:
     Disposable personal income:
          Chained (1996) dollars /1/           5,677.7    5,854.5    6,134.1     6,008.8    6,042.9   6,076.7     6,087.9    6,111.2    6,131.8    6,146.9     6,165.1     6,180.5    6,195.5   6,245.5   6,216.6
          Per capita:
               Current dollars                  21,385     22,262     23,359      22,854     22,978    23,096      23,166     23,267     23,330     23,416      23,495      23,537     23,623    23,814    23,724
               Chained (1996) dollars           21,385     21,838     22,672      22,300     22,413    22,523      22,549     22,619     22,677     22,713      22,759      22,796     22,832    22,999    22,877
          Population (thousands)               265,504    268,087    270,560     269,458    269,618   269,793     269,982    270,183    270,398    270,636     270,885     271,124    271,350   271,552   271,743
     Personal saving as a percentage of
          disposable personal income               4.8        4.2        4.2         4.6        4.6       4.6         4.7        4.2        4.0        4.3         4.2         3.9        3.8       4.3       3.3
   1.  Disposable personal income in chained (1996) dollars equals the current-dollar figure divided
by the implicit price deflator for personal consumption expenditures.


                                                                                                  Table 2. -- The Disposition of Personal Income--Continued
                                                                                                             [Billions of dollars]
                                                                                                       Seasonally adjusted at annual rates
                                                      1997       1998      1999                                                                   1999
                                                                                       Jan.       Feb.          Mar.        Apr.        May        June       July       Aug.        Sep.       Oct.       Nov.        Dec.
Personal income                                      6,937.0    7,391.0    7,789.6    7,595.3    7,632.1     7,656.9     7,690.1     7,716.0     7,783.0    7,797.4    7,841.1     7,847.0    7,945.7    7,977.0     7,994.3
Less: Personal tax and nontax payments                 968.8    1,070.9    1,152.0    1,106.9    1,116.5     1,116.1     1,121.1     1,132.9     1,146.1    1,159.1    1,154.3     1,178.6    1,185.6    1,195.4     1,210.9
Equals: Disposable personal income                   5,968.2    6,320.0    6,637.7    6,488.4    6,515.6     6,540.8     6,569.0     6,583.1     6,636.9    6,638.3    6,686.8     6,668.3    6,760.0    6,781.6     6,783.4
Less: Personal outlays                               5,715.3    6,054.7    6,490.1    6,262.6    6,304.5     6,363.9     6,405.2     6,419.8     6,473.3    6,499.6    6,547.4     6,583.0    6,625.5    6,660.9     6,735.7
     Personal consumption expenditures               5,529.3    5,850.9    6,268.7    6,049.1    6,089.3     6,147.5     6,187.3     6,200.4     6,251.8    6,277.4    6,323.4     6,358.9    6,399.3    6,433.2     6,506.3
     Interest paid by persons                          164.8      179.8      194.8      187.9      189.6       190.8       191.2       192.7       194.8      195.5      197.4       197.5      198.6      200.2       201.8
     Personal transfer payments to the
          rest of the world (net)                       21.2       24.0       26.6       25.6       25.6        25.6        26.7        26.7        26.7       26.6       26.6        26.6       27.6       27.6        27.6
Equals: Personal saving                                252.9      265.4      147.6      225.8      211.1       176.9       163.9       163.4       163.6      138.7      139.4        85.3      134.5      120.7        47.7
Addenda:
     Disposable personal income:
          Chained (1996) dollars /1/                 5,854.5    6,134.1    6,331.0    6,240.4    6,264.4     6,286.3     6,280.8     6,294.3     6,344.7    6,331.3    6,366.4     6,327.6    6,403.8    6,420.7     6,412.0
          Per capita:
               Current dollars                        22,262     23,359     24,314     23,862     23,949      24,027      24,114      24,148      24,326     24,310     24,465      24,377     24,691     24,752      24,741
               Chained (1996) dollars                 21,838     22,672     23,191     22,950     23,025      23,092      23,056      23,089      23,255     23,185     23,293      23,131     23,390     23,435      23,387
          Population (thousands)                     268,087    270,560    272,996    271,914    272,065     272,230     272,413     272,613     272,832    273,071    273,318     273,556    273,782    273,984     274,174
     Personal saving as a percentage of
          disposable personal income                     4.2        4.2        2.2        3.5        3.2         2.7         2.5         2.5         2.5        2.1        2.1         1.3        2.0        1.8         0.7
    1.  Disposable personal income in chained (1996) dollars equals the current-dollar figure divided
 by the implicit price deflator for personal consumption expenditures.
 Source:  U.S. Department of Commerce, Bureau of Economic Analysis.


                                                              Table 2.-- The Disposition of Personal Income--Continued
                                                                                 [Billions of dollars]
                                                                            Seasonally adjusted at annual rates
                                                       1998      1999                                   2000
                                                                             Jan.       Feb.       Mar.       Apr.       May     June /p/
Personal income                                      7,391.0   7,789.6     8,056.4    8,099.6    8,161.6    8,206.8   8,233.9    8,266.7
Less: Personal tax and nontax payments               1,070.9   1,152.0     1,225.7    1,241.1    1,251.2    1,265.0   1,269.9    1,281.9
Equals: Disposable personal income                   6,320.0   6,637.7     6,830.6    6,858.5    6,910.4    6,941.8   6,964.0    6,984.8
Less: Personal outlays                               6,054.7   6,490.1     6,791.7    6,868.7    6,906.2    6,922.7   6,942.8    6,976.6
     Personal consumption expenditures               5,850.9   6,268.6     6,558.9    6,635.0    6,671.3    6,685.7   6,704.4    6,736.9
     Interest paid by persons                          179.8     194.8       204.3      205.2      206.4      208.0     209.5      210.8
     Personal transfer payments to the
          rest of the world (net)                       24.0      26.6        28.5       28.5       28.5       28.9      28.9       28.9
Equals: Personal saving                                265.4     147.6        38.9      -10.3        4.2       19.2      21.2        8.2
Addenda:
     Disposable personal income:
          Chained (1996) dollars /1/                 6,134.1   6,331.0     6,438.7    6,434.9    6,455.9    6,483.2   6,503.1    6,505.1
          Per capita:
               Current dollars                        23,359    24,314      24,898     24,985     25,159     25,256    25,319     25,375
               Chained (1996) dollars                 22,672    23,191      23,469     23,442     23,504     23,587    23,643     23,632
          Population (thousands)                     270,560   272,996     274,347    274,503    274,674    274,859   275,054    275,264
     Personal saving as a percentage of
          disposable personal income                     4.2       2.2         0.6       -0.1        0.1        0.3       0.3        0.1
   p  Preliminary.
   1.  Disposable personal income in chained (1996) dollars equals the current-dollar figure divided
by the implicit price deflator for personal consumption expenditures.
Source:  U.S. Department of Commerce, Bureau of Economic Analysis.



                                                                                                  Table 3. -- Personal Income and Its Disposition, Change From Preceding Period
                                                                                                                    [Billions of dollars]
                                                                                                                Seasonally adjusted at annual rates
                                                                 1995      1996      1997                                                   1997
                                                                                                  Jan.   Feb.      Mar.    Apr.    May      June      July    Aug.     Sep.    Oct.     Nov.    Dec.
        Personal income                                           312.9     346.5     389.6      41.0    37.3     38.3    19.8     27.3      32.0      27.9    45.0     33.6    42.0     45.1    29.6
             Wage and salary disbursements                        188.0     201.8     262.4      18.3    33.2     26.1    11.0     18.8      19.4      18.7    35.6     18.3    30.2     41.2    15.7
                  Private industries                              169.2     183.5     239.1      11.7    31.0     25.4     9.3     17.5      17.7      16.5    34.2     16.7    27.5     39.3    14.3
                       Goods-producing industries                  39.6      44.6      66.9       8.4     6.2      7.3     2.7      4.2       3.0       4.7     8.3      4.5    10.5      8.5     7.7
                            Manufacturing                          27.2      26.2      44.7       5.7     2.7      5.0     2.5      1.6       2.5       3.2     6.2      2.5     8.9      6.4     4.9
                       Distributive industries                     43.7      40.3      57.2       0.8     7.3      8.7     1.2      3.5       3.5       4.9    11.0      4.0     5.9     12.2    -1.3
                       Service industries                          85.9      98.6     115.0       2.5    17.5      9.4     5.4      9.8      11.3       6.9    14.7      8.3    11.1     18.6     8.0
                  Government                                       18.8      18.3      23.3       6.6     2.2      0.7     1.7      1.2       1.8       2.2     1.5      1.5     2.7      1.9     1.4
             Other labor income                                   -10.5      -7.0     -14.6      -6.4    -3.4     -3.3    -2.3     -2.1      -1.6      -1.1    -0.7     -0.3    -0.6      1.0     1.8
             Proprietors' income with IVA and CCAdj                21.1      47.0      36.5      12.3     4.8      2.1     0.3      2.3       3.6       4.2     1.2      5.3     4.1     -4.1     4.1
                  Farm                                             -9.7      12.1      -4.6       0.2    -0.6     -0.4    -0.3     -0.2      -0.1       0.4    -0.1     -0.2     0.0     -0.6    -0.9
                  Nonfarm                                          30.9      35.0      41.0      12.1     5.3      2.6     0.6      2.5       3.7       3.9     1.2      5.5     4.2     -3.5     4.9
             Rental income of persons with CCAdj                    7.6      11.8      -1.4      -0.9    -0.5     -0.5    -0.5     -0.5      -0.5      -0.7    -0.4     -0.3    -0.2     -0.2     0.0
             Personal dividend income                              19.3      43.4      37.5       3.8     3.6      3.8     3.3      3.4       3.4       2.7     2.7      2.7     2.2      1.8     1.1
             Personal interest income                              50.1      18.1      53.4       1.9     4.3      5.4     8.1      6.3       6.1       4.9     6.5      7.2     8.5      7.7     7.6
             Transfer payments to persons                          52.0      42.9      33.4      14.6    -2.7      6.4     0.5      0.3       2.8       0.1     2.3      1.8    -0.4      0.2     0.1
                  Old-age, survivors, disability, and health
                       insurance benefits                          35.0      29.6      28.2      11.3    -3.4      5.4     1.0      1.9       0.8       1.0     2.5     -0.5     0.8     -0.8    -0.1
                  Government unemployment insurance benefits       -2.1       0.6      -2.2      -1.0    -0.1     -0.1    -0.1     -0.8       0.4      -0.7    -0.6      1.2    -1.2      0.6     0.4
                  Other                                            19.3      12.6       7.4       4.3     0.9      1.0    -0.4     -0.7       1.6      -0.4     0.5      1.2    -0.1      0.3    -0.1
             Less: Personal contributions for social
                  insurance                                        14.7      11.6      17.5       2.5     2.2      1.6     0.7      1.1       1.2       1.0     2.2      1.0     1.8      2.5     0.7
        Less: Personal tax and nontax payments                     55.7      91.4      99.1      19.8     9.9      7.1     3.7      8.0       8.3       6.5    10.5      6.8     9.1     12.2     6.6
        Equals: Disposable personal income                        257.2     255.1     290.5      21.2    27.3     31.3    16.1     19.3      23.8      21.3    34.5     26.7    33.0     32.9    23.0
        Less: Personal outlays                                    270.3     285.4     309.7      45.6    24.7     14.4    17.3     -6.9      43.1      66.4    17.2     15.9    29.5     24.0    26.4
             Personal consumption expenditures                    252.6     268.5     291.8      44.3    23.1     13.0    15.5     -7.7      42.3      64.4    15.8     13.6    26.3     23.7    24.8
             Interest paid by persons                              16.8      15.2      14.9       0.4     1.5      1.4     1.7      0.8       0.8       1.1     1.5      2.3     1.6      0.2     1.6
             Personal transfer payments to the rest of the
                  world (net)                                       0.9       1.7       3.0       1.0     0.0      0.0     0.1      0.0       0.0       0.8     0.0      0.0     1.7      0.0     0.0
        Equals: Personal saving                                   -13.1     -30.3     -19.2     -24.5     2.7     16.8    -1.1     26.2     -19.4     -45.0    17.3     10.8     3.5      8.9    -3.3
        Addendum:
             Disposable personal income,
                  chained (1996) dollars                          141.9     138.6     176.8       8.6    12.1     25.1     9.6     20.0      17.1      13.8    29.0     14.4    23.4     30.5    21.8
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.


                                                                                                            Table 3. -- Personal Income and Its Disposition, Change From Preceding Period--Continued
                                                                                                                            [Billions of dollars]
                                                                                                                     Seasonally adjusted at annual rates
                                                                   1996      1997     1998                                                   1998
                                                                                               Jan.     Feb.      Mar.     Apr.     May      June    July     Aug.     Sep.     Oct.     Nov.    Dec.
        Personal income                                            346.5     389.6    454.0     53.8    47.2      38.3     27.3     44.9     30.8     35.8     40.7     21.5     35.1     67.1   -12.6
             Wage and salary disbursements                         201.8     262.4    301.8     31.1    31.1      18.8     17.7     34.8     14.1     22.0     37.5     14.4     24.9     29.3    16.4
                  Private industries                               183.5     239.1    273.3     26.1    27.8      17.2     15.4     31.8     12.2     19.8     33.7     11.9     22.7     27.5    14.9
                       Goods-producing industries                   44.6      66.9     63.5      6.0     3.4       3.3      3.3      5.1     -0.2     -1.0     13.5      4.9      2.9      4.0     5.5
                            Manufacturing                           26.2      44.7     38.2      1.3     2.5       2.6      0.9      3.4     -2.1     -4.0     10.5      5.0     -0.9      1.0     1.6
                       Distributive industries                      40.3      57.2     69.5      8.7     7.9       1.8      4.0     10.5      1.8      6.9      7.9      4.3      4.4      9.8     2.3
                       Service industries                           98.6     115.0    140.4     11.4    16.4      12.2      8.0     16.2     10.6     13.9     12.3      2.7     15.4     13.7     7.2
                  Government                                        18.3      23.3     28.4      5.0     3.3       1.6      2.3      2.9      2.1      2.1      3.9      2.4      2.1      2.0     1.4
             Other labor income                                     -7.0     -14.6     10.1      4.4     2.2       1.8      0.6      1.3      1.2      1.3      1.2      1.1      1.0      1.2     1.4
             Proprietors' income with IVA and CCAdj                 47.0      36.5     39.5      7.3     4.1       6.4     -1.0      0.8      5.8      3.8     -3.3      1.6     11.3     30.8   -22.8
                  Farm                                              12.1      -4.6     -4.3     -1.8    -1.1      -0.8     -0.5     -0.6     -0.7     -1.1     -0.4     -0.1      2.7     26.6   -28.2
                  Nonfarm                                           35.0      41.0     43.7      9.2     5.1       7.3     -0.7      1.5      6.5      5.0     -3.0      1.7      8.6      4.2     5.4
             Rental income of persons with CCAdj                    11.8      -1.4      7.1     -0.8     0.7       1.3      3.0      2.0      2.0      2.5      1.6      1.2      0.7      6.7    -5.2
             Personal dividend income                               43.4      37.5     16.2      0.0     0.3       0.4      0.3      0.2      0.4      0.4      0.7      1.3      2.0      1.6     1.6
             Personal interest income                               18.1      53.4     76.8      7.4     7.6       7.6      9.0      6.6      5.6      5.6      3.6      0.1     -2.5     -3.0    -3.1
             Transfer payments to persons                           42.9      33.4     20.8      7.2     2.9       2.9     -1.3      1.3      2.2      1.7      1.5      2.6     -0.8      2.3     0.3
                  Old-age, survivors, disability, and health
                       insurance benefits                           29.6      28.2     12.2      6.4     1.3       2.0     -1.4      0.4      0.3      1.1     -0.2      1.4     -2.1     -0.4    -0.5
                  Government unemployment insurance benefits         0.6      -2.2     -0.4     -1.0     0.4       0.3     -0.7      0.4      0.1      0.8      0.4     -0.8     -0.8      1.4    -0.2
                  Other                                             12.6       7.4      8.9      1.8     1.2       0.5      0.9      0.5      1.8     -0.2      1.4      1.9      2.1      1.3     1.0
             Less: Personal contributions for social
                  insurance                                         11.6      17.5     18.3      3.0     1.6       1.0      0.9      2.0      0.7      1.3      2.2      0.8      1.5      1.8     1.1
        Less: Personal tax and nontax payments                      91.4      99.1    102.1     13.5    10.0       2.6      3.9     13.2      8.5      7.1     13.3      4.7      6.4     10.5     7.4
        Equals: Disposable personal income                         255.1     290.5    351.8     40.3    37.1      35.8     23.4     31.8     22.2     28.7     27.4     16.9     28.5     56.7   -20.0
        Less: Personal outlays                                     285.4     309.7    339.4     14.1    36.1      33.5     19.6     58.3     32.3     13.2     32.4     32.8     35.5     19.6    49.1
             Personal consumption expenditures                     268.5     291.8    321.6     13.5    35.0      32.4     17.5     57.1     29.8     11.7     31.3     31.6     32.8     18.2    48.6
             Interest paid by persons                               15.2      14.9     15.0      1.0     1.0       1.1      0.7      1.1      2.5      1.4      1.0      1.2      1.9      1.3     0.6
             Personal transfer payments to the rest of the
                  world (net)                                        1.7       3.0      2.8     -0.3     0.0       0.0      1.5      0.0      0.0      0.2      0.0      0.0      0.8      0.0     0.0
        Equals: Personal saving                                    -30.3     -19.2     12.5     26.0     1.2       2.2      3.7    -26.5    -10.0     15.5     -5.0    -15.9     -7.0     37.1   -69.1
        Addendum:
             Disposable personal income,
                  chained (1996) dollars                           138.6     176.8    279.6     36.6    34.1      33.8     11.2     23.3     20.6     15.1     18.2     15.4     15.0     50.0   -28.9
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.


                                                                              Table 3. -- Personal Income and Its Disposition, Change From Preceding Period--Continued
                                                                                                         [Billions of dollars]
                                                                                                     Seasonally adjusted at annual rates
                                                                 1997      1998      1999                                              1999
                                                                                                Jan.    Feb.    Mar.    Apr.   May     June      July    Aug.    Sep.    Oct.    Nov.    Dec.
        Personal income                                           389.6     454.0     398.6     32.7    36.8    24.8    33.2   25.9     67.0     14.4    43.7     5.9    98.7    31.3    17.3
             Wage and salary disbursements                        262.4     301.8     279.3     21.8    29.4    12.0    25.7   20.8     26.2     30.0    23.7    19.2    31.9    13.0    30.1
                  Private industries                              239.1     273.3     247.6     13.9    26.8    10.1    24.5   19.4     24.0     27.6    20.7    17.0    29.6    10.8    27.7
                       Goods-producing industries                  66.9      63.5      50.6     -0.9     5.1     2.4     6.5    4.8      6.7      7.1     0.8     7.4     7.7    -1.1     3.6
                            Manufacturing                          44.7      38.2      25.8     -0.7     2.0     2.0     3.1    3.8      5.0      5.0     1.0     4.1     5.4    -4.1     0.9
                       Distributive industries                     57.2      69.5      71.2      4.9    11.1     0.1     8.6    3.4      9.3      7.4     7.1     1.7     8.3     4.8    13.6
                       Service industries                         115.0     140.4     125.7      9.8    10.7     7.5     9.4   11.3      7.9     13.1    12.8     7.8    13.7     7.1    10.5
                  Government                                       23.3      28.4      31.7      7.8     2.6     1.9     1.3    1.4      2.2      2.5     2.9     2.2     2.3     2.2     2.5
             Other labor income                                   -14.6      10.1      15.5      1.6     1.3     1.3     1.0    1.3      1.3      1.4     1.4     1.5     1.5     1.6     1.6
             Proprietors' income with IVA and CCAdj                36.5      39.5      42.8      0.8     4.7     4.1     5.4   -4.6     29.0    -19.0     5.8    -9.9    33.8     9.9   -17.6
                  Farm                                             -4.6      -4.3      -0.1      1.9     2.2    -1.5     0.9   -3.3     16.8    -21.5    -1.6    -3.0    26.7    -0.1   -23.8
                  Nonfarm                                          41.0      43.7      43.0     -1.2     2.6     5.6     4.5   -1.3     12.2      2.5     7.4    -7.0     7.2     9.9     6.4
             Rental income of persons with CCAdj                   -1.4       7.1       8.0      1.9     1.1    -0.1     0.0   -0.9      3.3     -5.9    -0.5   -14.2    19.5     1.5    -3.9
             Personal dividend income                              37.5      16.2      19.2      1.7     1.7     1.9     2.1    2.1      2.1      2.3     2.3     2.3     2.2     2.2     2.2
             Personal interest income                              53.4      76.8      22.9     -2.0    -0.5     0.8     2.0    3.3      4.8      7.6     6.2     6.4     8.6     5.1     3.6
             Transfer payments to persons                          33.4      20.8      33.2     12.7     1.0     5.6    -1.1    5.3      2.0      0.1     6.3     2.1     3.2    -1.0     3.2
                  Old-age, survivors, disability, and health
                       insurance benefits                          28.2      12.2      10.0      5.6    -0.1     1.6     0.9    0.4      1.2      1.1     1.8     1.1     2.1    -1.8     2.6
                  Government unemployment insurance benefits       -2.2      -0.4       0.8      0.3    -0.1     0.3    -1.4    2.7     -1.2     -1.3     1.6    -0.8     0.3    -0.2    -0.7
                  Other                                             7.4       8.9      22.5      6.7     1.3     3.7    -0.6    2.2      2.1      0.2     2.9     1.9     0.7     1.0     1.3
             Less: Personal contributions for social
                  insurance                                        17.5      18.3      22.3      5.7     2.1     0.8     1.8    1.5      1.8      2.0     1.6     1.3     2.2     0.9     2.0
        Less: Personal tax and nontax payments                     99.1     102.1      81.1     -9.0     9.6    -0.4     5.0   11.8     13.2     13.0    -4.8    24.3     7.0     9.8    15.5
        Equals: Disposable personal income                        290.5     351.8     317.7     41.7    27.2    25.2    28.2   14.1     53.8      1.4    48.5   -18.5    91.7    21.6     1.8
        Less: Personal outlays                                    309.7     339.4     435.4     26.2    41.9    59.4    41.3   14.6     53.5     26.3    47.8    35.6    42.5    35.4    74.8
             Personal consumption expenditures                    291.8     321.6     417.7     24.6    40.2    58.2    39.8   13.1     51.4     25.6    46.0    35.5    40.4    33.9    73.1
             Interest paid by persons                              14.9      15.0      15.0      1.1     1.7     1.2     0.4    1.5      2.1      0.7     1.9     0.1     1.1     1.6     1.6
             Personal transfer payments to the rest of the
                  world (net)                                       3.0       2.8       2.6      0.5     0.0     0.0     1.1    0.0      0.0     -0.1     0.0     0.0     1.0     0.0     0.0
        Equals: Personal saving                                   -19.2      12.5    -117.8     15.5   -14.7   -34.2   -13.0   -0.5      0.2    -24.9     0.7   -54.1    49.2   -13.8   -73.0
        Addendum:
             Disposable personal income,
                  chained (1996) dollars                          176.8     279.6     196.9     23.8    24.0    21.9    -5.5   13.5     50.4    -13.4    35.1   -38.8    76.2    16.9    -8.7

                                                           Table 3. -- Personal Income and Its Disposition, Change From Preceding Period--Continued
                                                                                           [Billions of dollars]
                                                                                 Seasonally adjusted at annual rates
                                                                                  1998      1999                           2000
                                                                                                       Jan.     Feb.     Mar.    Apr.     May   June /p/
        Personal income                                                            454.0     398.6      62.1    43.2     62.0    45.2    27.1     32.8
             Wage and salary disbursements                                         301.8     279.3      34.7    20.4     28.1    38.6     4.7     25.6
                  Private industries                                               273.3     247.6      24.7    17.9     23.8    35.2    -1.3     27.0
                       Goods-producing industries                                   63.5      50.6      12.7     2.9      9.2     9.3    -6.9      5.9
                            Manufacturing                                           38.2      25.8       6.4     2.2      1.9     7.8    -4.8      4.8
                       Distributive industries                                      69.5      71.2       5.8     4.8      5.5    13.7     1.7      8.7
                       Service industries                                          140.4     125.7       6.2    10.1      9.1    12.2     3.9     12.4
                  Government                                                        28.4      31.7      10.0     2.3      4.4     3.4     6.0     -1.3
             Other labor income                                                     10.1      15.5       2.8     2.3      2.1     2.2     2.1      2.1
             Proprietors' income with IVA and CCAdj                                 39.5      42.8       3.9     4.9     16.6     0.9    -3.1     12.8
                  Farm                                                              -4.3      -0.1       1.5     1.1      3.3     1.6    -5.3      6.9
                  Nonfarm                                                           43.7      43.0       2.4     3.8     13.2    -0.7     2.2      6.0
             Rental income of persons with CCAdj                                     7.1       8.0       0.3     0.9      1.7    -2.3    -4.0     -1.4
             Personal dividend income                                               16.2      19.2       2.3     2.3      1.9     1.7     1.8      2.4
             Personal interest income                                               76.8      22.9       9.0     9.3      9.8     4.1     2.6      2.0
             Transfer payments to persons                                           20.8      33.2      13.3     4.8      3.6     2.6    23.3     -8.9
                  Old-age, survivors, disability, and health
                       insurance benefits                                           12.2      10.0      11.1     2.7      3.4     2.3    21.0     -9.1
                  Government unemployment insurance benefits                        -0.4       0.8       0.6     0.3     -0.8    -0.6    -0.3      0.9
                  Other                                                              8.9      22.5       1.6     1.8      1.0     0.9     2.6     -0.6
             Less: Personal contributions for social
                  insurance                                                         18.3      22.3       4.3     1.4      2.0     2.5     0.4      1.8
        Less: Personal tax and nontax payments                                     102.1      81.1      14.8    15.4     10.1    13.8     4.9     12.0
        Equals: Disposable personal income                                         351.8     317.7      47.2    27.9     51.9    31.4    22.2     20.8
        Less: Personal outlays                                                     339.4     435.4      56.0    77.0     37.5    16.5    20.1     33.8
             Personal consumption expenditures                                     321.6     417.7      52.6    76.1     36.3    14.4    18.7     32.5
             Interest paid by persons                                               15.0      15.0       2.5     0.9      1.2     1.6     1.5      1.3
             Personal transfer payments to the rest of the
                  world (net)                                                        2.8       2.6       0.9     0.0      0.0     0.4     0.0      0.0
        Equals: Personal saving                                                     12.5    -117.8      -8.8   -49.2     14.5    15.0     2.0    -13.0
        Addendum:
             Disposable personal income,
                  chained (1996) dollars                                           279.6     196.9      26.7    -3.8     21.0    27.3    19.9      2.0
        p  Preliminary.
        IVA  Inventory valuation adjustment.
        CCAdj  Capital consumption adjustment.
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.




                                                                                                                                      Table 4. -- Personal Consumption Expenditures by Major Type of Product
                                                                                                                                                                                                                                                                        Seasonally adjusted at annual rates
                                                                           1995        1996      1997                                                             1997
                                                                                                              Jan.      Feb.       Mar.      Apr.        May      June       July       Aug.       Sep.       Oct.      Nov.      Dec.
                                                                                                                                                       Billions of current dollars
        Personal consumption expenditures                               4,969.0     5,237.5    5,529.3      5,410.2   5,433.3    5,446.3   5,461.8    5,454.1   5,496.4    5,560.8    5,576.6    5,590.2    5,616.5   5,640.2   5,665.0
             Durable goods                                                589.7       616.5      642.5        637.4     631.1      636.8     625.3      614.5     633.3      653.3      654.8      649.0      647.1     662.8     664.9
             Nondurable goods                                           1,497.3     1,574.1    1,641.6      1,623.7   1,627.3    1,629.4   1,628.2    1,620.6   1,633.0    1,646.8    1,654.5    1,658.2    1,656.8   1,660.3   1,659.9
             Services                                                   2,882.0     3,047.0    3,245.2      3,149.1   3,174.9    3,180.1   3,208.2    3,218.9   3,230.1    3,260.8    3,267.3    3,283.1    3,312.5   3,317.2   3,340.1
                                                                                                                                                    Billions of chained (1996) dollars
        Personal consumption expenditures                               5,075.6     5,237.5    5,423.9      5,342.1   5,351.2    5,358.7   5,368.2    5,361.5   5,397.4    5,454.0    5,464.9    5,467.3    5,484.8   5,506.5   5,530.0
             Durable goods                                                583.5       616.5     657.3        644.5     636.8      643.1     635.8      626.8     647.0      669.2      673.7      668.6      668.1     686.1     688.6
             Nondurable goods                                           1,529.0     1,574.1    1,619.9      1,602.3   1,605.0    1,609.4   1,606.4    1,601.9   1,616.3    1,629.5    1,633.0    1,632.7    1,630.9   1,635.3   1,635.9
             Services                                                   2,963.4     3,047.0    3,147.0      3,095.5   3,109.4    3,106.3   3,125.7    3,132.0   3,134.1    3,156.0    3,159.2    3,166.6    3,186.0   3,186.4   3,206.5
                                                                                                                                             Chain-type price indexes (Index numbers, 1996 = 100)
        Personal consumption expenditures                                 97.90      100.00    101.94       101.28    101.54     101.64    101.75     101.73    101.84     101.96     102.05     102.25     102.40    102.43    102.44
             Durable goods                                               101.06      100.00     97.75        98.88     99.09      99.00     98.33      98.03     97.87      97.59      97.18      97.04      96.84     96.58     96.54
             Nondurable goods                                             97.93      100.00    101.34       101.34    101.39     101.25    101.36     101.16    101.03     101.06     101.31     101.56     101.59    101.53    101.47
             Services                                                     97.25      100.00    103.12       101.74    102.12     102.38    102.65     102.78    103.07     103.33     103.43     103.69     103.98    104.11    104.18
        Addendum:
             Personal consumption expenditures less
                 food and energy                                          98.16      100.00    101.94       101.05    101.32     101.54    101.77     101.87    101.99     102.12     102.08     102.23     102.40    102.44    102.54
                                                                                                                                                Change From Preceding Period
                                                                                                                                                 Billions of current dollars
        Personal consumption expenditures                                 252.6       268.5     291.8         44.3      23.1       13.0      15.5        7.7      42.3       64.4       15.8       13.6       26.3      23.7      24.8
             Durable goods                                                 28.9        26.8      26.0         17.5      -6.3        5.7     -11.5       10.8      18.8       20.0        1.5       -5.8       -1.9      15.7       2.1
             Nondurable goods                                              59.3        76.8      67.5          7.7       3.6        2.1      -1.2       -7.6      12.4       13.8        7.7        3.7       -1.4       3.5      -0.4
             Services                                                     164.4       165.0     198.2         19.2      25.8        5.2      28.1       10.7      11.2       30.7        6.5       15.8       29.4       4.7      22.9
                                                                                                                                             Billions of chained (1996) dollars
        Personal consumption expenditures                                 147.5       161.9     186.4         32.4       9.1        7.5       9.5       -6.7      35.9       56.6       10.9        2.4       17.5      21.7      23.5
             Durable goods                                                 25.8        33.0      40.8         18.1      -7.7        6.3      -7.3       -9.0      20.2       22.2        4.5       -5.1       -0.5      18.0       2.5
             Nondurable goods                                              43.9        45.1      45.8          5.9       2.7        4.4      -3.0       -4.5      14.4       13.2        3.5       -0.3       -1.8       4.4       0.6
             Services                                                      77.2        83.6     100.0          8.7      13.9       -3.1      19.4        6.3       2.1       21.9        3.2        7.4       19.4       0.4      20.1
                                                                                                                         Table 5. --  Percent Change From Preceding Period in Selected Series
                                                                                                                                              Based on current dollars
        Personal income                                                     5.3         5.6       6.0          0.6       0.6        0.6       0.3        0.4       0.5        0.4        0.6        0.5        0.6       0.6       0.4
        Disposable personal income                                          5.0         4.7       5.1          0.4       0.5        0.5       0.3        0.3       0.4        0.4        0.6        0.4        0.5       0.5       0.4
        Personal consumption expenditures                                   5.4         5.4       5.6          0.8       0.4        0.2       0.3       -0.1       0.8        1.2        0.3        0.2        0.5       0.4       0.4
             Durable goods                                                  5.2         4.5       4.2          2.8      -1.0        0.9      -1.8       -1.7       3.1        3.1        0.2       -0.9       -0.3       2.4       0.3
             Nondurable goods                                               4.1         5.1       4.3          0.5       0.2        0.1      -0.1       -0.5       0.8        0.8        0.5        0.2       -0.1       0.2       0.0
             Services                                                       6.0         5.7       6.5          0.6       0.8        0.2       0.9        0.3       0.3        0.9        0.2        0.5        0.9       0.1       0.7
                                                                                                                                          Based on chained (1996) dollars
        Disposable personal income                                          2.6         2.5       3.1          0.1       0.2        0.4       0.2        0.3       0.3        0.2        0.5        0.2        0.4       0.5       0.4
        Personal consumption expenditures                                   3.0         3.2       3.6          0.6       0.2        0.1       0.2       -0.1       0.7        1.0        0.2        0.0        0.3       0.4       0.4
             Durable goods                                                  4.6         5.6       6.6          2.9      -1.2        1.0      -1.1       -1.4       3.2        3.4        0.7       -0.8       -0.1       2.7       0.4
             Nondurable goods                                               3.0         2.9       2.9          0.4       0.2        0.3      -0.2       -0.3       0.9        0.8        0.2        0.0       -0.1       0.3       0.0
             Services                                                       2.7         2.8       3.3          0.3       0.4       -0.1       0.6        0.2       0.1        0.7        0.1        0.2        0.6       0.0       0.6
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.



                                                                                                                    Table 4. -- Personal Consumption Expenditures by Major Type of Product
                                                                                                                                                 Seasonally adjusted at annual rates
                                                                                  1996     1997      1998                                                                 1998
                                                                                                                   Jan.     Feb.          Mar.      April       May       June      July      Aug.       Sept.      Oct.       Nov.        Dec.
                                                                                                                                                                  Billions of current dollars
        Personal consumption expenditures                                      5,237.5    5,529.3   5,850.9     5,678.5    5,713.5     5,745.9    5,763.4    5,820.5    5,850.3   5,862.0   5,893.3    5,924.9   5,957.7    5,975.9    6,024.5
             Durable goods                                                       616.5      642.5     693.9       670.7      670.9       669.8      675.1      695.1      697.6     680.1     692.4      705.1     715.8      720.1      734.4
             Nondurable goods                                                  1,574.1    1,641.6   1,707.6     1,665.1    1,673.5     1,678.8    1,683.0    1,696.3    1,705.0   1,713.7   1,716.3    1,723.8   1,733.4    1,744.1    1,758.1
             Services                                                          3,047.0    3,245.2   3,449.3     3,342.7    3,369.0     3,397.3    3,405.3    3,429.1    3,447.7   3,468.2   3,484.5    3,496.1   3,508.5    3,511.7    3,532.0
                                                                                                                                                              Billions of chained (1996) dollars
        Personal consumption expenditures                                      5,237.5    5,423.9   5,678.7     5,540.8    5,573.0     5,603.5    5,609.8    5,658.4    5,686.4   5,685.9   5,708.7    5,738.4   5,758.3    5,771.5    5,809.5
             Durable goods                                                       616.5      657.3     727.3       695.5      696.7       696.9      701.6      725.8      730.6     711.5     725.5      742.9     756.9      764.5      778.6
             Nondurable goods                                                  1,574.1    1,619.9   1,684.8     1,641.7    1,652.9     1,663.8    1,667.0    1,676.4    1,685.5   1,692.0   1,691.0    1,699.5   1,705.0    1,716.6    1,726.3
             Services                                                          3,047.0    3,147.0   3,269.4     3,205.0    3,224.5     3,243.8    3,242.5    3,258.9    3,273.1   3,283.6   3,294.2    3,299.3   3,301.0    3,296.1    3,311.2
                                                                                                                                                   Chain-type price indexes (Index numbers, 1996 = 100)
        Personal consumption expenditures                                       100.00     101.94    103.03      102.49     102.53      102.55     102.74     102.87     102.89    103.10    103.24     103.26    103.47     103.55     103.71
             Durable goods                                                      100.00      97.75     95.41       96.41      96.27       96.09      96.19      95.73      95.45     95.55     95.41      94.88     94.54      94.17      94.30
             Nondurable goods                                                   100.00     101.34    101.35      101.42     101.24      100.90     100.96     101.19     101.16    101.28    101.50     101.43    101.67     101.61     101.85
             Services                                                           100.00     103.12    105.50      104.30     104.49      104.74     105.03     105.23     105.34    105.63    105.79     105.97    106.29     106.55     106.67
        Addendum:
             Personal consumption expenditures less
                 food and energy                                                100.00     101.94    103.45      102.64     102.79      102.89     103.14      103.27    103.27    103.52    103.72     103.79    103.97     104.05     104.31
                                                                                                                                                              Change From Preceding Period
                                                                                                                                                               Billions of current dollars
        Personal consumption expenditures                                        268.5      291.8     321.6        13.5       35.0        32.4       17.5       57.1       29.8      11.7      31.3       31.6      32.8       18.2       48.6
             Durable goods                                                        26.8       26.0      51.4         5.8        0.2        -1.1        5.3       20.0        2.5     -17.5      12.3       12.7      10.7        4.3       14.3
             Nondurable goods                                                     76.8       67.5      66.0         5.2        8.4         5.3        4.2       13.3        8.7       8.7       2.6        7.5       9.6       10.7       14.0
             Services                                                            165.0      198.2     204.1         2.6       26.3        28.3        8.0       23.8       18.6      20.5      16.3       11.6      12.4        3.2       20.3
                                                                                                                                                           Billions of chained (1996) dollars
        Personal consumption expenditures                                        161.9      186.4     254.8        10.8       32.2        30.5        6.3       48.6       28.0      -0.5      22.8       29.7      19.9       13.2       38.0
             Durable goods                                                        33.0       40.8      70.0         6.9        1.2         0.2        4.7       24.2        4.8     -19.1      14.0       17.4      14.0        7.6       14.1
             Nondurable goods                                                     45.1       45.8      64.9         5.8       11.2        10.9        3.2        9.4        9.1       6.5      -1.0        8.5       5.5       11.6        9.7
             Services                                                             83.6      100.0     122.4        -1.5       19.5        19.3       -1.3       16.4       14.2      10.5      10.6        5.1       1.7       -4.9       15.1
                                                                                                                        Table 5. --  Percent Change From Preceding Period in Selected Series
                                                                                                                                                    Based on current dollars
        Personal income                                                            5.6        6.0       6.5         0.8        0.7         0.5        0.4        0.6        0.4       0.5       0.5        0.3       0.5        0.9       -0.2
        Disposable personal income                                                 4.7        5.1       5.9         0.7        0.6         0.6        0.4        0.5        0.4       0.5       0.4        0.3       0.4        0.9       -0.3
        Personal consumption expenditures                                          5.4        5.6       5.8         0.2        0.6         0.6        0.3        1.0        0.5       0.2       0.5        0.5       0.6        0.3        0.8
             Durable goods                                                         4.5        4.2       8.0         0.9        0.0        -0.2        0.8        3.0        0.4      -2.5       1.8        1.8       1.5        0.6        2.0
             Nondurable goods                                                      5.1        4.3       4.0         0.3        0.5         0.3        0.3        0.8        0.5       0.5       0.2        0.4       0.6        0.6        0.8
             Services                                                              5.7        6.5       6.3         0.1        0.8         0.8        0.2        0.7        0.5       0.6       0.5        0.3       0.4        0.1        0.6
                                                                                                                                                  Based on chained (1996) dollars
        Disposable personal income                                                 2.5        3.1       4.8         0.6        0.6         0.6        0.2        0.4        0.3       0.2       0.3        0.2       0.2        0.8       -0.5
        Personal consumption expenditures                                          3.2        3.6       4.7         0.2        0.6         0.5        0.1        0.9        0.5      -0.0       0.4        0.5       0.3        0.2        0.7
             Durable goods                                                         5.6        6.6      10.6         1.0        0.2         0.0        0.7        3.4        0.7      -2.6       2.0        2.4       1.9        1.0        1.8
             Nondurable goods                                                      2.9        2.9       4.0         0.4        0.7         0.7        0.2        0.6        0.5       0.4      -0.1        0.5       0.3        0.7        0.6
             Services                                                              2.8        3.3       3.9         0.0        0.6         0.6        0.0        0.5        0.4       0.3       0.3        0.2       0.0       -0.1        0.5
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.


                                                                                                                                             Table 4. -- Personal Consumption Expenditures by Major Type of Product
                                                                                                                                                                    Seasonally adjusted at annual rates
                                                                                  1997     1998       1999                                                                        1999
                                                                                                                    Jan.         Feb.        Mar.        Apr.          May        June        July        Aug.        Sep.         Oct.       Nov.        Dec.
                                                                                                                                                                   Billions of current dollars
        Personal consumption expenditures                                      5,529.3    5,850.9    6,268.6     6,049.1      6,089.3     6,147.5     6,187.3      6,200.4     6,251.8     6,277.4     6,323.4     6,358.9      6,399.3    6,433.2     6,506.3
             Durable goods                                                       642.5      693.9      761.3       715.0        733.4       753.3       760.7        741.8       766.4       758.2       768.9       774.7        778.2      786.9       797.6
             Nondurable goods                                                  1,641.6    1,707.6    1,845.5     1,777.1      1,788.4     1,793.7     1,815.0      1,827.8     1,833.2     1,842.0     1,860.7     1,877.3      1,891.1    1,899.3     1,940.2
             Services                                                          3,245.2    3,449.3    3,661.9     3,557.0      3,567.5     3,600.5     3,611.6      3,630.8     3,652.1     3,677.3     3,693.9     3,706.8      3,730.0    3,747.0     3,768.4
                                                                                                                                                                Billions of chained (1996) dollars
        Personal consumption expenditures                                      5,423.9    5,678.7    5,978.8     5,817.9      5,854.5     5,908.4     5,915.8      5,928.4     5,976.6     5,987.1     6,020.4     6,033.9      6,062.1    6,090.8     6,150.0
             Durable goods                                                       657.3      727.3      817.8       759.2        781.6       807.2       813.3        794.6       823.6       815.3       828.3       834.8        840.0      850.6       864.8
             Nondurable goods                                                  1,619.9    1,684.8    1,779.4     1,738.6      1,751.5     1,755.5     1,753.1      1,767.7     1,774.2     1,777.3     1,789.0     1,791.9      1,801.6    1,810.9     1,841.7
             Services                                                          3,147.0    3,269.4    3,390.8     3,324.7      3,328.3     3,354.3     3,358.6      3,373.1     3,388.6     3,402.9     3,412.8     3,417.6      3,431.2    3,441.2     3,456.8
                                                                                                                                                      Chain-type price indexes (Index numbers, 1996 = 100)
        Personal consumption expenditures                                       101.94     103.03     104.85      103.98       104.02      104.06      104.60       104.60      104.62      104.86      105.04      105.40       105.57     105.63      105.80
             Durable goods                                                       97.75      95.41      93.09       94.16        93.81       93.30       93.51        93.34       93.05       92.97       92.81       92.78        92.63      92.50       92.21
             Nondurable goods                                                   101.34     101.35     103.71      102.22       102.12      102.19      103.54       103.41      103.34      103.65      104.02      104.79       104.99     104.90      105.37
             Services                                                           103.12     105.50     107.99      106.99       107.19      107.35      107.54       107.65      107.79      108.07      108.24      108.47       108.71     108.89      109.02
        Addendum:
             Personal consumption expenditures less
                 food and energy                                                101.94     103.45     105.11      104.58       104.60      104.57      104.88       104.91      104.96      105.13      105.17      105.46       105.64     105.68      105.74
                                                                                                                                                                 Change From Preceding Period
                                                                                                                                                                  Billions of current dollars
        Personal consumption expenditures                                        291.8      321.6      417.7        24.6         40.2        58.2        39.8         13.1        51.4        25.6        46.0        35.5         40.4       33.9        73.1
             Durable goods                                                        26.0       51.4       67.4       -19.4         18.4        19.9         7.4        -18.9        24.6        -8.2        10.7         5.8          3.5        8.7        10.7
             Nondurable goods                                                     67.5       66.0      137.9        19.0         11.3         5.3        21.3         12.8         5.4         8.8        18.7        16.6         13.8        8.2        40.9
             Services                                                            198.2      204.1      212.6        25.0         10.5        33.0        11.1         19.2        21.3        25.2        16.6        12.9         23.2       17.0        21.4
                                                                                                                                                               Billions of chained (1996) dollars
        Personal consumption expenditures                                        186.4      254.8      300.1         8.4         36.6        53.9         7.4         12.6        48.2        10.5        33.3        13.5         28.2       28.7        59.2
             Durable goods                                                        40.8       70.0       90.5       -19.4         22.4        25.6         6.1        -18.7        29.0        -8.3        13.0         6.5          5.2       10.6        14.2
             Nondurable goods                                                     45.8       64.9       94.6        12.3         12.9         4.0        -2.4         14.6         6.5         3.1        11.7         2.9          9.7        9.3        30.8
             Services                                                            100.0      122.4      121.4        13.5          3.6        26.0         4.3         14.5        15.5        14.3         9.9         4.8         13.6       10.0        15.6
                                                                                                                                           Table 5. --  Percent Change From Preceding Period in Selected Series
                                                                                                                                                                    Based on current dollars
        Personal income                                                            6.0        6.5        5.4         0.4          0.5         0.3         0.4          0.3         0.9         0.2         0.6         0.1          1.3        0.4         0.2
        Disposable personal income                                                 5.1        5.9        5.0         0.6          0.4         0.4         0.4          0.2         0.8         0.0         0.7        -0.3          1.4        0.3         0.0
        Personal consumption expenditures                                          5.6        5.8        7.1         0.4          0.7         1.0         0.6          0.2         0.8         0.4         0.7         0.6          0.6        0.5         1.1
             Durable goods                                                         4.2        8.0        9.7        -2.6          2.6         2.7         1.0         -2.5         3.3        -1.1         1.4         0.8          0.5        1.1         1.4
             Nondurable goods                                                      4.3        4.0        8.1         1.1          0.6         0.3         1.2          0.7         0.3         0.5         1.0         0.9          0.7        0.4         2.2
             Services                                                              6.5        6.3        6.2         0.7          0.3         0.9         0.3          0.5         0.6         0.7         0.4         0.4          0.6        0.5         0.6
                                                                                                                                                                  Based on chained (1996) dollars
        Disposable personal income                                                 3.1        4.8        3.2         0.4          0.4         0.3        -0.1          0.2         0.8        -0.2         0.6        -0.6          1.2        0.3        -0.1
Personal consumption expenditures                                                  3.6        4.7        5.3         0.1          0.6         0.9         0.1          0.2         0.8         0.2         0.6         0.2          0.5        0.5         1.0
             Durable goods                                                         6.6       10.6       12.4        -2.5          3.0         3.3         0.8         -2.3         3.6        -1.0         1.6         0.8          0.6        1.3         1.7
             Nondurable goods                                                      2.9        4.0        5.6         0.7          0.7         0.2        -0.1          0.8         0.4         0.2         0.7         0.2          0.5        0.5         1.7
             Services                                                              3.3        3.9        3.7         0.4          0.1         0.8         0.1          0.4         0.5         0.4         0.3         0.1          0.4        0.3         0.5
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.


                                                                                             Table 4. -- Personal Consumption Expenditures by Major Type of Product
                                                                                                                                                                                                                                                     Seasonally adjusted at annual rates
                                                                                  1998       1999                             2000
                                                                                                        Jan.        Feb.         Mar.        Apr.         May      June /p/
                                                                                                                     Billions of current dollars
        Personal consumption expenditures                                      5,850.9    6,268.6    6,558.9     6,635.0      6,671.3     6,685.7     6,704.4      6,736.9
             Durable goods                                                       693.9      761.3      820.2       834.2        824.3       819.3       813.5        817.7
             Nondurable goods                                                  1,707.6    1,845.5    1,937.1     1,965.4      1,989.2     1,989.6     1,996.7      2,006.6
             Services                                                          3,449.3    3,661.9    3,801.6     3,835.4      3,857.7     3,876.8     3,894.1      3,912.6
                                                                                                                   Billions of chained (1996) dollars
        Personal consumption expenditures                                      5,678.7    5,978.8    6,182.6     6,225.2      6,232.5     6,244.0     6,260.6      6,274.2
             Durable goods                                                       727.3      817.8      890.4       907.3        896.9       891.6       884.4        892.3
             Nondurable goods                                                  1,684.8    1,779.4    1,836.6     1,847.6      1,850.1     1,854.1     1,865.4      1,863.2
             Services                                                          3,269.4    3,390.8    3,471.7     3,488.3      3,501.5     3,513.3     3,524.4      3,533.1
                                                                                                             Chain-type price indexes (Index numbers, 1996 = 100)
        Personal consumption expenditures                                       103.03     104.85     106.10      106.59       107.05      107.08      107.10       107.39
             Durable goods                                                       95.41      93.09      92.10       91.93        91.89       91.87       91.97        91.63
             Nondurable goods                                                   101.35     103.71     105.49      106.40       107.54      107.33      107.06       107.71
             Services                                                           105.50     107.99     109.51      109.96       110.18      110.35      110.50       110.75
       Addendum:
            Personal consumption expenditures less
                food and energy                                                 103.45     105.11     106.01      106.27       106.50      106.67      106.73       106.72
                                                                                                            Change From Preceding Period
                                                                                                               Billions of current dollars
        Personal consumption expenditures                                        321.6      417.7       52.6        76.1         36.3        14.4        18.7         32.5
             Durable goods                                                        51.4       67.4       22.6        14.0         -9.9        -5.0        -5.8          4.2
             Nondurable goods                                                     66.0      137.9       -3.1        28.3         23.8         0.4         7.1          9.9
             Services                                                            204.1      212.6       33.2        33.8         22.3        19.1        17.3         18.5
                                                                                                             Billions of chained (1996) dollars
        Personal consumption expenditures                                        254.8      300.1       32.6        42.6          7.3        11.5        16.6         13.6
             Durable goods                                                        70.0       90.5       25.6        16.9        -10.4        -5.3        -7.2          7.9
             Nondurable goods                                                     64.9       94.6       -5.1        11.0          2.5         4.0        11.3         -2.2
             Services                                                            122.4      121.4       14.9        16.6         13.2        11.8        11.1          8.7
                                                                                                Table 5. --  Percent Change From Preceding Period in Selected Series
                                                                                                            Based on current dollars
        Personal income                                                            6.5        5.4        0.8         0.5          0.8         0.6         0.3          0.4
        Disposable personal income                                                 5.9        5.0        0.7         0.4          0.8         0.5         0.3          0.3
        Personal consumption expenditures                                          5.8        7.1        0.8         1.2          0.5         0.2         0.3          0.5
             Durable goods                                                         8.0        9.7        2.8         1.7         -1.2        -0.6        -0.7          0.5
             Nondurable goods                                                      4.0        8.1       -0.2         1.5          1.2         0.0         0.4          0.5
             Services                                                              6.3        6.2        0.9         0.9          0.6         0.5         0.4          0.5
                                                                                                            Based on chained (1996) dollars
        Disposable personal income                                                 4.8        3.2        0.4        -0.1          0.3         0.4         0.3          0.0
Personal consumption expenditures                                                  4.7        5.3        0.5         0.7          0.1         0.2         0.3          0.2
             Durable goods                                                        10.6       12.4        3.0         1.9         -1.1        -0.6        -0.8          0.9
             Nondurable goods                                                      4.0        5.6       -0.3         0.6          0.1         0.2         0.6         -0.1
             Services                                                              3.9        3.7        0.4         0.5          0.4         0.3         0.3          0.2
        p Preliminary
        Source:  U.S.  Department of Commerce, Bureau of Economic Analysis.



                                         	           	   Table 6. -- Revisions to Personal Income and Its Disposition
                                                                                             (Billions of dollars)
                                                                               Revised                                    Revision                 Revision to percent change
                                                                   1997         1998            1999            1997       1998       1999        1997         1998       1999
Personal income                                                   6,937.0        7,391.0      7,789.6          -14.1        32.1      -2.2        -0.2          0.6       -0.5
   Wage and salary disbursements                                  3,888.9        4,190.7      4,470.0            0.0         4.7      -2.3         0.0          0.2       -0.1
      Private industries                                          3,224.7        3,498.0      3,745.6            0.3         4.8      -0.2         0.0          0.2       -0.1
        Goods-producing industries                                  975.1        1,038.6      1,089.2           -0.4        -0.1       6.9         0.0          0.0        0.7
          Manufacturing                                             718.4          756.6        782.4           -0.4        -0.9       2.7        -0.1         -0.1        0.5
        Distributive industries                                     879.6          949.1      1,020.3            0.5         4.5      14.5         0.1          0.5        1.0
        Service industries                                        1,369.9        1,510.3      1,636.0            0.1         0.4     -21.6         0.0          0.0       -1.5
      Government                                                    664.3          692.7        724.4           -0.1        -0.1      -2.1        -0.1          0.0       -0.3
   Other labor income                                               475.4          485.5        501.0          -25.5       -30.2     -34.8        -5.2         -0.9       -0.7
   Proprietors' income with IVA and CCAdj                           581.2          620.7        663.5            2.6        14.6       5.0         0.5          2.0       -1.8
     Farm                                                            29.7           25.4         25.3            0.2         0.3      -6.0         0.7          0.7      -25.3
     Nonfarm                                                        551.5          595.2        638.2            2.4        14.2      10.9         0.4          2.1       -0.8
   Rental income of persons with CCAdj                              128.3          135.4        143.4           -1.9        -2.0      -2.5        -1.4         -0.1       -0.4
   Personal dividend income                                         334.9          351.1        370.3            1.5         2.8       6.0         0.5          0.3        0.9
   Personal interest income                                         864.0          940.8        963.7            9.1        43.0      32.4         1.1          3.9       -1.3
   Transfer payments to persons                                     962.2          983.0      1,016.2           -0.2        -0.6      -2.0         0.0          0.0       -0.1
     Old-age, survivors, disability, and health
       insurance benefits                                           565.8          578.0        588.0            0.0        -0.1      -8.4         0.0          0.0       -1.5
     Government unemployment insurance
       benefits                                                      19.9           19.5         20.3           -0.1        -0.3       0.0        -0.4         -1.0        1.7
     Other                                                          376.5          385.4        407.9           -0.1        -0.3       6.4         0.0          0.0        1.7
 Less:  Personal contributions for social
   insurance                                                        297.9          316.2        338.5           -0.2         0.3       3.9        -0.1          0.2        1.1
Less:  Personal tax and nontax payments                             968.8        1,070.9      1,152.0            0.5        -1.7      -0.1         0.1         -0.3        0.2
Equals:  Disposable personal income                               5,968.2        6,320.0      6,637.7          -14.6        33.8      -2.0        -0.3          0.8       -0.6
 Less:  Personal outlays                                          5,715.3        6,054.7      6,490.1            3.6        -1.9       6.8         0.0         -0.1        0.2
   Personal consumption expenditures                              5,529.3        5,850.9      6,268.6            4.9         2.3      11.3         0.1         -0.1        0.1
     Durable goods                                                  642.5          693.9        761.3           -0.4        -4.3       2.7        -0.1         -0.6        1.0
     Nondurable goods                                             1,641.6        1,707.6      1,845.5           -0.1        -1.2       2.4         0.0         -0.1        0.2
     Services                                                     3,245.2        3,449.3      3,661.9            5.4         7.8       6.3         0.2          0.1        0.0
   Interest paid by persons                                         164.8          179.8        194.8           -1.9        -5.9      -6.9        -1.2         -2.3       -0.2
   Personal transfer payments to the
     rest of the world (net)                                         21.2           24.0         26.6            0.6         1.7       2.3         3.1          5.2        1.9
Equals:  Personal saving                                            252.9          265.4        147.6          -18.2        35.7      -8.7        -6.7         20.2      -12.5
Addenda:
   Disposable personal income
     Chained (1996) dollars/1/                                    5,854.5        6,107.1      6,331.0          -12.2        27.0     -18.4        -0.2          0.7       -0.8
     Per capita:
       Current dollars                                             22,320         23,231       24,307            -58         128         7        -0.3          0.8       -0.5
       Chained (1996) dollars                                      21,887         22,569       23,244            -49         103       -53        -0.2          0.7       -0.7
     Population (thousands)                                       268,046        270,595      273,161             41         -35      -165         0.0         -0.1        0.0
   Personal saving as a percentage of
     disposable personal income                                       4.5            3.7          2.4           -0.3         0.5      -0.2        -6.1         18.5      -11.4
IVA  Inventory valuation adjustment.
CCAdj  Capital consumption adjustment.
  1.  Disposable personal income in chained (1996) dollars equals the current-dollar figure divided by
the implicit price deflator for personal consumption expenditures.


                                                TABLE 7. --  PERSONAL INCOME, DPI, PCE AND PERSONAL SAVING: CHANGE IN LEVELS AND PERCENT CHANGES
                                   Personal income                                       Disposable personal income                                     Personal consumption expenditures                      Personal saving as
                 Billions of dollars                  Percent                    Billions of dollars                Percent                     Billions of dollars                 Percent                      a percentage of DPI
                Previously                     Previously                      Previously                    Previously                         Previously                   Previously                          Previously
                 published   Revised            published   Revised            published    Revised          published    Revised               published   Revised          published     Revised               published   Revised
  1997            403.7       389.6                6.2        6.0               305.1         290.5             5.4         5.1                 286.9        291.8              5.5          5.6                   4.5           4.2
  1998            407.8       454.0                5.9        6.5               303.4         351.8             5.1         5.9                 324.2        321.6              5.9          5.8                   3.7           4.2
  1999            432.9       398.6                5.9        5.4               353.5         317.7             5.6         5.0                 408.7        417.7              7.0          7.1                   2.4           2.2
  1997
  Jan.             50.5        41.0                0.8        0.6                31.1          21.2             0.5         0.4                  44.3         44.3              0.8          0.8                   4.3           4.1
  Feb.             43.9        37.3                0.6        0.6                34.4          27.3             0.6         0.5                  21.4         23.1              0.4          0.4                   4.5           4.2
  Mar.             42.1        38.3                0.6        0.6                35.4          31.3             0.6         0.5                  19.0         13.0              0.3          0.2                   4.7           4.4
  Apr.             21.8        19.8                0.3        0.3                17.3          16.1             0.3         0.3                  -3.7         15.5             -0.1          0.3                   5.0           4.4
  May              27.6        27.3                0.4        0.4                19.6          19.3             0.3         0.3                  10.9         -7.7              0.2         -0.1                   5.1           4.8
  June             30.4        32.0                0.4        0.5                22.3          23.8             0.4         0.4                  36.5         42.3              0.7          0.8                   4.8           4.5
  July             25.6        27.9                0.4        0.4                18.9          21.3             0.3         0.4                  57.2         64.4              1.0          1.2                   4.1           3.7
  Aug.             41.6        45.0                0.6        0.6                31.0          34.5             0.5         0.6                  19.7         15.8              0.4          0.3                   4.3           4.0
  Sep.             30.1        33.6                0.4        0.5                23.2          26.7             0.4         0.4                  13.5         13.6              0.2          0.2                   4.4           4.1
  Oct.             40.0        42.0                0.6        0.6                30.7          33.0             0.5         0.5                  22.8         26.3              0.4          0.5                   4.4           4.2
  Nov.             40.6        45.1                0.6        0.6                28.6          32.9             0.5         0.5                  26.4         23.7              0.5          0.4                   4.4           4.3
  Dec.             24.7        29.6                0.3        0.4                18.6          23.0             0.3         0.4                  18.8         24.8              0.3          0.4                   4.4           4.2
  1998
  Jan.             25.6        53.8                0.4        0.8                16.0          40.3             0.3         0.7                  26.7         13.5              0.5          0.2                   4.2           4.6
  Feb.             37.9        47.2                0.5        0.7                28.1          37.1             0.5         0.6                  39.8         35.0              0.7          0.6                   4.0           4.6
  Mar.             33.4        38.3                0.5        0.5                30.6          35.8             0.5         0.6                  26.3         32.4              0.5          0.6                   4.0           4.6
  Apr.             31.4        27.3                0.4        0.4                20.8          23.4             0.3         0.4                  22.3         17.5              0.4          0.3                   3.9           4.7
  May              35.7        44.9                0.5        0.6                23.5          31.8             0.4         0.5                  62.0         57.1              1.1          1.0                   3.3           4.2
  June             34.5        30.8                0.5        0.4                25.7          22.2             0.4         0.4                  21.1         29.8              0.4          0.5                   3.3           4.0
  July             49.0        35.8                0.7        0.5                38.7          28.7             0.6         0.5                  13.2         11.7              0.2          0.2                   3.6           4.3
  Aug.             39.1        40.7                0.5        0.5                26.2          27.4             0.4         0.4                  31.2         31.3              0.5          0.5                   3.5           4.2
  Sep.             22.0        21.5                0.3        0.3                17.5          16.9             0.3         0.3                  14.1         31.6              0.2          0.5                   3.5           3.9
  Oct.             40.2        35.1                0.5        0.5                33.3          28.5             0.5         0.4                  38.5         32.8              0.7          0.6                   3.4           3.8
  Nov.             75.0        67.1                1.0        0.9                63.8          56.7             1.0         0.9                  14.9         18.2              0.2          0.3                   4.1           4.3
  Dec.             -2.0       -12.6                0.0       -0.2               -11.1         -20.0            -0.2        -0.3                  47.7         48.6              0.8          0.8                   3.2           3.3
1999
  Jan.             44.5        32.7                0.6        0.4                43.3          41.7             0.7         0.6                  27.5         24.6              0.5          0.4                   3.4           3.5
  Feb.             37.4        36.8                0.5        0.5                33.1          27.2             0.5         0.4                  51.3         40.2              0.9          0.7                   3.1           3.2
  Mar.             18.9        24.8                0.2        0.3                25.0          25.2             0.4         0.4                  55.7         58.2              0.9          1.0                   2.6           2.7
  Apr.             37.4        33.2                0.5        0.4                30.4          28.2             0.5         0.4                  23.4         39.8              0.4          0.6                   2.6           2.5
  May              29.1        25.9                0.4        0.3                18.9          14.1             0.3         0.2                  33.7         13.1              0.5          0.2                   2.4           2.5
  June             61.5        67.0                0.8        0.9                51.4          53.8             0.8         0.8                  29.7         51.4              0.5          0.8                   2.6           2.5
  July             22.7        14.4                0.3        0.2                12.7           1.4             0.2         0.0                  27.3         25.6              0.4          0.4                   2.4           2.1
  Aug.             34.0        43.7                0.4        0.6                42.5          48.5             0.6         0.7                  50.8         46.0              0.8          0.7                   2.3           2.1
  Sep.              8.1         5.9                0.1        0.1               -11.6         -18.5            -0.2        -0.3                  32.3         35.5              0.5          0.6                   1.6           1.3
  Oct.             95.3        98.7                1.2        1.3                89.5          91.7             1.3         1.4                  34.6         40.4              0.5          0.6                   2.4           2.0
  Nov.             33.4        31.3                0.4        0.4                27.9          21.6             0.4         0.3                  50.5         33.9              0.8          0.5                   2.0           1.8
  Dec.             21.8        17.3                0.3        0.2                10.9           1.8             0.2         0.0                  71.0         73.1              1.1          1.1                   1.1           0.7
  2000
  Jan.             53.1        62.1                0.7        0.8                30.3          47.2             0.4         0.7                  48.5         52.6              0.7          0.8                   0.8           0.6
  Feb.             43.2        43.2                0.5        0.5                29.8          27.9             0.4         0.4                  75.9         76.1              1.2          1.2                   0.1          -0.1
  Mar.             59.9        62.0                0.7        0.8                51.1          51.9             0.7         0.8                  43.7         36.3              0.7          0.5                   0.2           0.1
  Apr.             47.7        45.2                0.6        0.6                33.3          31.4             0.5         0.5                  14.2         14.4              0.2          0.2                   0.4           0.3
  May              31.3        27.1                0.4        0.3                26.5          22.2             0.4         0.3                  16.3         18.7              0.2          0.3                   0.6           0.3
  June            .....        32.8              .....        0.4               .....          20.8           .....         0.3                 .....         32.5            .....          0.5                 .....           0.1



                Table 8. --  Chained (1996) Dollars Disposable Personal Income and Personal Consumption Expenditures
                                                               Percent Changes
                                 Real DPI                         Real PCE             PCE Implicit Price Deflators
                          Previously    Revised            Previously   Revised            Previously    Revised
                          published                        published                       published
         1997               3.3             3.1              3.4             3.6               2.0            1.9
         1998               4.1             4.8              4.9             4.7               0.9            1.1
         1999               4.0             3.2              5.3             5.3               1.6            1.8
        1997
         Jan.               0.3             0.1              0.6             0.6               0.2            0.2
         Feb.               0.3             0.2              0.1             0.2               0.3            0.3
         Mar.               0.5             0.4              0.3             0.1               0.1            0.1
         Apr.               0.2             0.2             -0.2             0.2               0.1            0.1
         May                0.4             0.3              0.2            -0.1               0.0            0.0
         June               0.3             0.3              0.6             0.7               0.1            0.1
         July               0.2             0.2              0.9             1.0               0.1            0.1
         Aug.               0.4             0.5              0.3             0.2               0.1            0.1
         Sep.               0.2             0.2              0.0             0.0               0.2            0.2
         Oct.               0.4             0.4              0.3             0.3               0.1            0.1
         Nov.               0.5             0.5              0.5             0.4               0.0            0.0
         Dec.               0.3             0.4              0.3             0.4               0.0            0.0
        1998
         Jan.               0.2             0.6              0.5             0.2               0.0            0.0
         Feb.               0.4             0.6              0.7             0.6               0.0            0.0
         Mar.               0.5             0.6              0.5             0.5               0.0            0.0
         Apr.               0.1             0.2              0.2             0.1               0.2            0.2
         May                0.3             0.4              1.0             0.9               0.1            0.1
         June               0.5             0.3              0.4             0.5               0.0            0.0
         July               0.4             0.2              0.0             0.0               0.2            0.2
         Aug.               0.3             0.3              0.4             0.4               0.1            0.1
         Sep.               0.3             0.2              0.2             0.5               0.0            0.0
         Oct.               0.4             0.2              0.5             0.3               0.2            0.2
         Nov.               1.0             0.8              0.2             0.2               0.0            0.1
         Dec.              -0.3            -0.5              0.7             0.7               0.1            0.2
         1999
         Jan.               0.4             0.4              0.2             0.1               0.2            0.3
         Feb.               0.5             0.4              0.8             0.6               0.0            0.0
         Mar.               0.4             0.3              0.9             0.9               0.0            0.0
         Apr.              -0.1            -0.1             -0.2             0.1               0.6            0.5
         May                0.3             0.2              0.6             0.2               0.0            0.0
         June               0.8             0.8              0.5             0.8              -0.1            0.0
         July               0.0            -0.2              0.2             0.2               0.2            0.2
         Aug.               0.4             0.6              0.6             0.6               0.2            0.2
         Sep.              -0.5            -0.6              0.2             0.2               0.3            0.3
         Oct.               1.1             1.2              0.3             0.5               0.2            0.2
         Nov.               0.3             0.3              0.7             0.5               0.1            0.1
         Dec.               0.0            -0.1              0.9             1.0               0.2            0.2
        2000
         Jan.               0.2             0.4              0.5             0.5               0.3            0.3
         Feb.               0.0            -0.1              0.8             0.7               0.4            0.5
         Mar.               0.3             0.3              0.2             0.1               0.5            0.4
         Apr.               0.4             0.4              0.2             0.2               0.1            0.0
         May                0.4             0.3              0.2             0.3               0.0            0.0
         June             .....             0.0            .....             0.2             .....            0.3
          	Month-to-month changes are at monthly rates.
          	Source: U.S. Department of Commerce, Bureau of Economic Analysis.
   -