News Release

FOR WIRE TRANSMISSION: 8:30 A.M. EDT, TUESDAY, July 31, 2001
BEA 01-24

Personal Income and Outlays, June 2001




The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.
Many of the tables in our news releases are very wide. Printing tips are available.


 
James E. Rankin: (202) 606-5301 (Personal Income) BEA 01-24 Greg Key: 606-5302 (Personal Outlays) Recorded message: 606-5303
Kurt Kunze:                  606-9748   (Annual Revision)
                PERSONAL INCOME AND OUTLAYS:  JUNE 2001
                   REVISED ESTIMATES:  1998-MAY 2001
 Personal income increased $27.6 billion, or 0.3 percent, and disposable personal income (DPI)
increased $21.0 billion, or 0.3 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $25.7 billion, or 0.4 percent.  In May, personal
income increased $16.7 billion, or 0.2 percent, DPI increased $16.6 billion, or 0.2 percent, and PCE
increased $20.4 billion, or 0.3 percent, based on revised estimates.
                                                                   2001
                                          Feb.        Mar.          Apr.        May           June
                                                   (Percent change from preceding month)
Personal income, current dollars          0.4         0.4           0.3        0.2             0.3
Disposable personal income:
   Current dollars                         .4          .4            .4         .2              .3
   Chained (1996) dollars                  .2          .5            .1         .1              .1
Personal consumption expenditures:
   Current dollars                         .3          .2            .4         .3              .4
   Chained (1996) dollars                  .0          .3            .2         .2              .2
    The estimates released today reflect revisions in the national income and product accounts
beginning with January 1998.  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 2001 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 $17.0 billion in June, in contrast to a decrease
of $2.7 billion in May.  Goods-producing industries' payrolls decreased $1.0 billion, compared with
a decrease of $3.8 billion; manufacturing payrolls decreased $2.4 billion, compared with a decrease
of $8.0 billion.  Distributive industries' payrolls increased $5.5 billion, in contrast to a decrease of
$1.1 billion.  Service industries' payrolls increased $12.4 billion, compared with an increase of $2.2
billion.  Government wage and salary disbursements increased $3.1 billion, compared with an
increase of $2.8 billion.
Other personal income
 Proprietors' income increased $5.0 billion in June, compared with an increase of $6.6 billion in
May.  Farm proprietors' income decreased $0.8 billion, in contrast to an increase of $0.5 billion.
Nonfarm proprietors' income increased $5.8 billion, compared with an increase of $6.1 billion.
 Transfer payments increased $1.1 billion in June, compared with an increase of $6.0 billion in
May.  Personal interest income decreased $1.7 billion in June, the same decrease as in May.
Personal dividend income increased $2.4 billion in June, compared with an increase of $2.3 billion
in May.  Rental income of persons increased $0.6 billion, compared with an increase of $2.4 billion.
In June, rental income of persons was reduced $2.0 billion at an annual rate to reflect uninsured
losses to nonfarm residential property caused by Tropical Storm Allison.
 Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $0.9 billion in June, in contrast to a decrease of $0.5 billion in May.
Personal taxes and disposable personal income
 Personal tax and nontax payments increased $6.5 billion in June, compared with an increase of
$0.3 billion in May.  Disposable personal income (DPI) -- personal income less personal tax and
nontax payments -- increased $21.0 billion, or 0.3 percent, in June, compared with an increase of
$16.6 billion, or 0.2 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 $26.6 billion in June, compared with an increase of $21.3 billion in May.
PCE increased $25.7 billion, compared with an increase of $20.4 billion.
 Personal saving -- DPI less personal outlays -- was $82.2 billion in June, compared with $87.8
billion in May.  Personal saving as a percentage of disposable personal income was 1.1 percent in
June, compared with 1.2 percent in May.
Real DPI and real PCE
 Real DPI -- DPI adjusted to remove price changes -- increased 0.1 percent in June, the same
increase as in May.
 Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in June, the same
increase as in May.  Purchases of durable goods increased 1.6 percent in June, compared with an
increase of 0.2 percent in May.  Purchases of motor vehicles and parts accounted for most of the
increase in June.  Purchases of nondurable goods decreased 0.2 percent in June, in contrast to an
increase of 0.3 percent in May.  Purchases of services increased 0.1 percent in June, the same
increase as in May.
  Revision of the National Income and Product Account Estimates
 Personal income, personal outlays, DPI, and personal saving as a percentage of DPI are revised
beginning with January 1998 to reflect the results of the annual revision to the national income and
product accounts (NIPA's) released last week.  The NIPA's usually are revised each July to
incorporate newly available and more comprehensive source data, as well as improved estimating
methodologies.
 Revisions to the estimates of personal income and outlays for 1998 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 up $35.0 billion for 1998, was revised down $12.3 billion for
1999, and was revised up $37.5 billion for 2000.  For 1998, a large upward revision to personal
interest income and a smaller upward revision to other labor income accounted for most of the
increase.  For 1999, downward revisions to personal dividend income and to personal interest
income were partly offset by upward revisions to other labor income, to proprietors' income, and to
rental income of persons.  For 2000, upward revisions to wage and salary disbursements, to other
labor income, and to proprietors' income were partly offset by downward revisions to personal
interest income and to personal dividend income.  The large upward revision to wage and salary
disbursements for 2000 reflected the incorporation of newly available BLS tabulations of wages and
salaries of employees covered by state unemployment insurance.  Revisions to farm proprietors'
income and rental income of persons reflect a change in methodology for the treatment of irregular
payments.  Emergency agricultural subsidies are smoothed across the months of the year (rather than
recorded in the month when paid), reflecting the accrual of these payments
over time.  Previously, emergency agricultural subsidies were recorded on a
disbursements basis, a treatment generally reserved in the NIPA's for one-time
or unusual transactions.
 Personal tax and nontax payments was revised down $0.5 billion for 1998, was revised up $7.2
billion for 1999, and was revised down $3.7 billion for 2000.  DPI was revised up $35.6 billion for
1998, was revised down $19.7 billion for 1999, and was revised up $41.2 billion for 2000.  The
percent change from the preceding year in real DPI was revised up from 4.8 percent to 5.4 percent
for 1998, was revised down from 3.2 percent to 2.5 percent for 1999, and was revised up from 2.8
percent to 3.5 percent for 2000.
 Personal outlays was revised down $0.6 billion for 1998, was revised down $32.9 billion for
1999, and was revised down $35.0 billion for 2000.  For 1998, a downward revision to interest paid
by persons was mostly offset by an upward revision to PCE.  For 1999, the revision reflected
downward revisions to PCE and to interest paid by persons.  For 2000, the revision reflected a large
downward revision to PCE and a smaller downward revision to interest paid by persons.
 Personal saving as a percentage of DPI was revised up from 4.2 percent to 4.7 percent for 1998,
was revised up from 2.2 percent to 2.4 percent for 1999, and was revised up from -0.1 percent to 1.0
percent for 2000.
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.  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.  Subscriptions and single copies of the printed Survey are for sale by the
Superintendent of Documents, U.S. Government Printing Office.  Internet: <bookstore.gpo.gov>;
phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
                        *          *          *
Next release -- Personal Income and Outlays for July will be released on
                  August 30, 2001, at 8:30 A.M. EDT.

>
                                                                        Table 1.-Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1996     1997     1998   Jan 98   Feb 98   Mar 98   Apr 98   May 98   Jun 98   Jul 98   Aug 98   Sep 98   Oct 98   Nov 98   Dec 98
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  6,547.4  6,937.0  7,426.0  7,199.8  7,256.2  7,308.4  7,340.8  7,385.7  7,421.9  7,456.7  7,497.0  7,518.3  7,548.7  7,581.5  7,597.2
  Wage and salary disbursements...  3,626.5  3,888.9  4,192.8  4,061.0  4,087.7  4,108.7  4,130.4  4,161.3  4,177.8  4,198.1  4,236.2  4,250.8  4,274.7  4,305.3  4,321.5
    Private industries............  2,985.5  3,224.7  3,500.1  3,382.2  3,406.5  3,426.0  3,444.9  3,472.4  3,486.4  3,505.0  3,539.0  3,550.9  3,572.3  3,600.7  3,615.0
      Goods-producing industries..    908.2    975.1  1,038.5  1,017.3  1,021.6  1,025.0  1,029.0  1,034.3  1,034.9  1,032.3  1,045.5  1,049.8  1,052.9  1,056.5  1,062.6
        Manufacturing.............    673.7    718.4    756.6    746.5    749.2    752.6    753.1    756.4    755.2    749.4    759.7    763.8    763.1    763.9    765.7
      Distributive industries.....    822.4    879.6    948.9    919.0    926.0    928.0    932.1    941.3    943.8    951.0    959.4    963.0    967.3    977.5    978.7
      Service industries..........  1,254.9  1,369.9  1,512.7  1,445.9  1,458.9  1,472.9  1,483.9  1,496.8  1,507.6  1,521.7  1,534.1  1,538.0  1,552.1  1,566.6  1,573.7
    Government....................    641.0    664.3    692.7    678.8    681.2    682.7    685.5    689.0    691.5    693.1    697.3    699.9    702.4    704.7    706.6
  Other labor income..............    490.0    475.4    490.6    481.6    483.5    484.7    486.7    488.2    489.9    491.5    493.1    494.9    496.2    497.7    499.3
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........    544.7    581.2    623.8    602.8    605.6    612.3    613.7    615.9    623.2    627.7    625.5    627.8    638.4    643.3    649.6
    Farm..........................     34.3     29.7     25.6     25.7     23.6     22.9     24.2     25.0     25.7     25.0     25.4     26.0     27.6     28.0     28.2
    Nonfarm.......................    510.5    551.5    598.2    577.1    582.1    589.4    589.5    590.9    597.5    602.8    600.1    601.9    610.8    615.2    621.4
  Rental income of persons with
   capital consumption adjustment.    129.7    128.3    138.6    126.2    127.4    129.4    133.4    136.2    138.9    142.4    144.4    145.8    145.8    146.6    147.2
  Personal dividend income........    297.4    334.9    348.3    347.7    349.2    350.2    350.4    350.2    349.7    348.7    347.8    347.3    347.1    346.4    345.5
  Personal interest income........    810.6    864.0    964.4    918.1    934.1    948.2    958.9    968.2    975.3    981.1    983.5    983.3    980.5    975.4    966.8
  Transfer payments to persons....    928.8    962.2    983.7    971.3    979.2    986.6    980.2    980.4    982.5    983.8    985.2    987.9    986.9    989.6    990.9
    Old-age, survivors, disability,
     and health insurance benefits    537.6    565.8    578.1    575.8    577.5    579.3    577.8    578.1    577.9    578.9    578.6    580.0    577.7    577.6    578.2
    Government unemployment
     insurance benefits...........     22.1     19.9     19.5     18.8     19.1     19.5     18.9     18.7     19.3     19.9     20.4     19.7     19.0     20.4     20.0
      Other.......................    369.1    376.5    386.1    376.7    382.7    387.7    383.4    383.6    385.3    385.0    386.2    388.2    390.2    391.6    392.8
  Less: Personal contributions for
   social insurance...............    280.4    297.9    316.3    308.9    310.5    311.7    312.8    314.5    315.4    316.6    318.8    319.6    320.8    322.7    323.7
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                                        Table 1.-Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1997     1998     1999   Jan 99   Feb 99   Mar 99   Apr 99   May 99   Jun 99   Jul 99   Aug 99   Sep 99   Oct 99   Nov 99   Dec 99
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  6,937.0  7,426.0  7,777.3  7,612.6  7,631.9  7,649.7  7,683.8  7,717.6  7,757.5  7,789.2  7,831.1  7,835.8  7,898.9  7,934.6  7,984.4
  Wage and salary disbursements...  3,888.9  4,192.8  4,472.2  4,335.8  4,362.2  4,374.7  4,402.0  4,430.7  4,453.5  4,487.2  4,513.4  4,535.0  4,565.8  4,586.2  4,620.1
    Private industries............  3,224.7  3,500.1  3,747.9  3,626.1  3,649.4  3,659.7  3,685.6  3,712.0  3,731.9  3,762.5  3,784.7  3,803.5  3,831.5  3,848.8  3,879.6
      Goods-producing industries..    975.1  1,038.5  1,088.7  1,059.3  1,065.2  1,067.6  1,073.8  1,080.9  1,085.9  1,094.3  1,095.7  1,104.7  1,107.5  1,111.8  1,117.5
        Manufacturing.............    718.4    756.6    782.0    764.5    766.9    769.4    772.0    777.1    779.8    786.2    787.3    793.2    793.5    795.2    799.1
      Distributive industries.....    879.6    948.9  1,021.0    985.9    996.8    998.2  1,006.2  1,011.9  1,017.5  1,025.0  1,032.4  1,033.2  1,042.2  1,045.8  1,057.2
      Service industries..........  1,369.9  1,512.7  1,638.2  1,580.8  1,587.4  1,593.9  1,605.6  1,619.3  1,628.6  1,643.2  1,656.6  1,665.6  1,681.7  1,691.3  1,705.0
    Government....................    664.3    692.7    724.3    709.8    712.8    715.1    716.4    718.7    721.6    724.6    728.7    731.5    734.3    737.3    740.4
  Other labor income..............    475.4    490.6    509.7    501.3    502.9    504.6    505.9    507.5    509.0    510.5    512.0    513.5    515.1    516.6    518.0
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........    581.2    623.8    672.0    650.4    651.7    657.1    664.5    663.8    675.6    675.2    682.4    673.9    682.7    691.1    695.4
    Farm..........................     29.7     25.6     26.6     27.5     27.4     27.3     27.8     27.6     27.1     26.0     25.6     24.0     26.0     26.2     26.4
    Nonfarm.......................    551.5    598.2    645.4    622.9    624.4    629.8    636.7    636.2    648.5    649.2    656.8    649.9    656.7    664.9    669.0
  Rental income of persons with
   capital consumption adjustment.    128.3    138.6    147.7    147.8    148.3    148.7    148.9    149.1    149.2    149.1    149.2    134.9    149.2    149.4    148.5
  Personal dividend income........    334.9    348.3    343.1    344.0    341.8    340.3    339.5    339.2    339.4    340.2    341.7    343.6    346.0    349.0    352.6
  Personal interest income........    864.0    964.4    950.0    956.7    948.1    942.0    943.1    945.1    947.7    946.8    947.5    949.1    952.9    957.6    963.7
  Transfer payments to persons....    962.2    983.7  1,019.6  1,005.4  1,007.3  1,013.6  1,012.9  1,017.1  1,019.3  1,018.3  1,024.6  1,026.6  1,029.8  1,028.3  1,031.6
    Old-age, survivors, disability,
     and health insurance benefits    565.8    578.1    588.0    584.1    584.5    586.3    587.0    587.1    587.4    587.7    589.1    589.8    591.7    589.2    592.2
    Government unemployment
     insurance benefits...........     19.9     19.5     20.3     20.4     20.2     20.7     19.5     21.4     20.9     19.1     20.9     20.2     20.6     20.4     19.4
      Other.......................    376.5    386.1    411.2    400.9    402.6    406.5    406.3    408.6    411.0    411.6    414.6    416.6    417.5    418.7    420.0
  Less: Personal contributions for
   social insurance...............    297.9    316.3    337.1    328.8    330.6    331.3    333.0    334.8    336.2    338.2    339.7    340.8    342.7    343.6    345.5
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                                        Table 1.-Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1998     1999     2000   Jan 00   Feb 00   Mar 00   Apr 00   May 00   Jun 00   Jul 00   Aug 00   Sep 00   Oct 00   Nov 00   Dec 00
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  7,426.0  7,777.3  8,319.2  8,053.6  8,097.3  8,162.3  8,223.1  8,272.2  8,317.9  8,344.2  8,377.4  8,423.0  8,478.7  8,513.5  8,566.7
  Wage and salary disbursements...  4,192.8  4,472.2  4,837.2  4,675.0  4,696.5  4,734.0  4,779.1  4,787.0  4,827.7  4,858.4  4,866.4  4,902.6  4,946.1  4,974.0  4,999.4
    Private industries............  3,500.1  3,747.9  4,068.8  3,922.4  3,941.0  3,973.2  4,015.0  4,015.6  4,058.4  4,086.5  4,094.2  4,128.9  4,170.4  4,197.2  4,222.2
      Goods-producing industries..  1,038.5  1,088.7  1,163.7  1,126.9  1,132.4  1,143.0  1,150.5  1,146.6  1,158.5  1,170.1  1,172.0  1,177.5  1,189.9  1,197.9  1,198.6
        Manufacturing.............    756.6    782.0    830.1    804.2    808.4    812.4    820.7    817.6    827.7    837.1    836.6    840.2    849.3    853.9    853.3
      Distributive industries.....    948.9  1,021.0  1,095.6  1,065.2  1,065.6  1,073.2  1,085.2  1,081.1  1,092.0  1,100.6  1,097.0  1,109.5  1,120.1  1,124.7  1,133.0
      Service industries..........  1,512.7  1,638.2  1,809.5  1,730.3  1,743.0  1,757.0  1,779.3  1,787.9  1,807.9  1,815.8  1,825.2  1,841.9  1,860.4  1,874.6  1,890.6
    Government....................    692.7    724.3    768.4    752.6    755.5    760.8    764.2    771.4    769.3    771.9    772.3    773.7    775.7    776.8    777.1
  Other labor income..............    490.6    509.7    534.2    521.5    523.9    525.8    528.1    529.8    532.5    535.4    537.9    540.5    542.9    544.9    547.0
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........    623.8    672.0    715.0    688.4    694.4    709.9    710.4    717.6    725.7    713.8    723.7    720.3    721.7    725.4    728.5
    Farm..........................     25.6     26.6     30.6     25.6     26.3     27.7     31.0     32.7     33.7     31.8     31.6     31.5     31.6     31.7     31.9
    Nonfarm.......................    598.2    645.4    684.4    662.9    668.0    682.2    679.5    684.9    692.0    682.0    692.1    688.8    690.1    693.7    696.6
  Rental income of persons with
   capital consumption adjustment.    138.6    147.7    141.6    146.2    144.9    143.6    142.5    141.4    140.3    138.4    138.1    138.5    139.4    141.4    144.4
  Personal dividend income........    348.3    343.1    379.2    356.9    361.2    365.4    369.3    373.2    377.5    381.7    385.9    389.8    393.5    396.7    399.7
  Personal interest income........    964.4    950.0  1,000.6    973.2    980.3    987.2    994.9  1,000.3  1,004.5  1,006.9  1,009.4  1,011.3  1,011.8  1,013.1  1,014.4
  Transfer payments to persons....    983.7  1,019.6  1,069.1  1,042.5  1,047.1  1,049.2  1,054.1  1,078.0  1,066.8  1,068.4  1,074.8  1,080.6  1,086.2  1,082.1  1,098.6
    Old-age, survivors, disability,
     and health insurance benefits    578.1    588.0    617.3    600.7    603.1    606.0    608.2    629.1    618.4    616.6    620.9    625.2    623.6    622.3    633.5
    Government unemployment
     insurance benefits...........     19.5     20.3     20.3     20.1     20.3     18.3     19.7     19.9     18.5     20.2     19.6     20.4     22.7     20.9     22.7
      Other.......................    386.1    411.2    431.5    421.7    423.7    424.9    426.3    428.9    429.9    431.6    434.3    435.1    440.0    438.9    442.5
  Less: Personal contributions for
   social insurance...............    316.3    337.1    357.7    350.2    351.0    352.8    355.2    355.1    357.2    358.8    358.8    360.7    362.9    364.2    365.3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                                        Table 1.-Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1999     2000   Jan 01   Feb 01   Mar 01   Apr 01   May 01   Jun 01/p/
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  7,777.3  8,319.2  8,604.0  8,640.2  8,676.2  8,701.0  8,717.7  8,745.3
  Wage and salary disbursements...  4,472.2  4,837.2  5,022.7  5,051.8  5,073.8  5,092.6  5,092.6  5,112.6
    Private industries............  3,747.9  4,068.8  4,238.4  4,262.3  4,281.1  4,296.5  4,293.8  4,310.8
      Goods-producing industries..  1,088.7  1,163.7  1,202.1  1,206.2  1,210.6  1,208.1  1,204.3  1,203.3
        Manufacturing.............    782.0    830.1    852.6    853.5    853.7    856.8    848.8    846.4
      Distributive industries.....  1,021.0  1,095.6  1,137.7  1,141.0  1,142.2  1,146.9  1,145.8  1,151.3
      Service industries..........  1,638.2  1,809.5  1,898.6  1,915.0  1,928.3  1,941.6  1,943.8  1,956.2
    Government....................    724.3    768.4    784.3    789.6    792.7    796.0    798.8    801.9
  Other labor income..............    509.7    534.2    548.2    549.3    550.3    551.3    552.0    552.9
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........    672.0    715.0    731.7    733.7    740.2    741.1    747.7    752.7
    Farm..........................     26.6     30.6     30.9     30.2     28.4     29.2     29.7     28.9
    Nonfarm.......................    645.4    684.4    700.8    703.5    711.8    711.9    718.0    723.8
  Rental income of persons with
   capital consumption adjustment.    147.7    141.6    141.5    139.6    137.9    139.1    141.5    142.1
  Personal dividend income........    343.1    379.2    402.3    404.8    407.2    409.6    411.9    414.3
  Personal interest income........    950.0  1,000.6  1,012.7  1,010.8  1,009.1  1,007.4  1,005.7  1,004.0
  Transfer payments to persons....  1,019.6  1,069.1  1,115.8  1,122.4  1,131.0  1,133.9  1,139.9  1,141.0
    Old-age, survivors, disability,
     and health insurance benefits    588.0    617.3    646.4    651.7    656.0    658.7    660.9    661.0
    Government unemployment
     insurance benefits...........     20.3     20.3     22.7     22.7     22.8     22.9     22.9     23.0
      Other.......................    411.2    431.5    446.7    448.0    452.2    452.3    456.1    457.0
  Less: Personal contributions for
   social insurance...............    337.1    357.7    370.7    372.2    373.2    374.0    373.5    374.4
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
p Preliminary.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                               Table 2.-The Disposition of Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1996     1997     1998   Jan 98   Feb 98   Mar 98   Apr 98   May 98   Jun 98   Jul 98   Aug 98   Sep 98   Oct 98   Nov 98   Dec 98
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  6,547.4  6,937.0  7,426.0  7,199.8  7,256.2  7,308.4  7,340.8  7,385.7  7,421.9  7,456.7  7,497.0  7,518.3  7,548.7  7,581.5  7,597.2
Less: Personal tax and nontax
 payments.........................    869.7    968.8  1,070.4  1,027.3  1,035.9  1,038.9  1,044.2  1,056.4  1,065.7  1,072.9  1,086.4  1,091.8  1,097.7  1,109.4  1,118.5
Equals: Disposable personal income  5,677.7  5,968.2  6,355.6  6,172.5  6,220.4  6,269.5  6,296.6  6,329.3  6,356.2  6,383.8  6,410.6  6,426.6  6,451.0  6,472.1  6,478.7
Less: Personal outlays............  5,405.6  5,715.3  6,054.1  5,871.2  5,919.1  5,948.3  5,967.7  6,032.3  6,054.7  6,064.7  6,096.4  6,125.6  6,160.7  6,181.6  6,226.7
  Personal consumption expenditure  5,237.5  5,529.3  5,856.0  5,678.7  5,726.5  5,754.6  5,770.4  5,834.3  5,855.2  5,864.5  5,895.9  5,924.9  5,959.2  5,981.0  6,027.1
  Interest paid by persons........    149.9    164.8    173.7    169.6    169.7    170.8    173.0    173.6    175.1    176.0    176.3    176.5    175.7    174.8    173.7
  Personal transfer payments to the
   rest of the world (net)........     18.2     21.2     24.3     22.9     22.9     22.9     24.3     24.3     24.3     24.2     24.2     24.2     25.8     25.8     25.8
Equals: Personal saving...........    272.1    252.9    301.5    301.3    301.3    321.2    328.9    297.0    301.5    319.1    314.2    301.0    290.3    290.5    252.1
Addenda:
  Disposable personal income:
    Chained (1996) dollars\1\.....  5,677.7  5,854.5  6,168.6  6,019.1  6,063.7  6,110.8  6,128.1  6,152.7  6,180.1  6,193.2  6,210.5  6,226.0  6,235.2  6,251.6  6,252.9
    Per capita:
      Current dollars.............   21,385   22,262   23,491   22,907   23,071   23,238   23,322   23,426   23,507   23,588   23,665   23,703   23,774   23,834   23,841
      Chained (1996) dollars......   21,385   21,838   22,800   22,338   22,490   22,650   22,698   22,772   22,855   22,884   22,927   22,964   22,978   23,022   23,010
    Population (thousands) \2\....  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      4.7      4.9      4.8      5.1      5.2      4.7      4.7      5.0      4.9      4.7      4.5      4.5      3.9
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
 deflator for personal consumption expenditures.
2. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population. The monthly estimate is
the average of estimates for the first of the month and the first of the
following month; the annual estimate is the average of the monthly estimates.
Prior to January 2001, first-of-the-month estimates are from Census Bureau
surveys and are consistent with the 1990 Census of Population.  Beginning with
January 2001, first-of-the-month estimates are derived by BEA based on
extrapolations of the Census Bureau estimates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                               Table 2.-The Disposition of Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1997     1998     1999   Jan 99   Feb 99   Mar 99   Apr 99   May 99   Jun 99   Jul 99   Aug 99   Sep 99   Oct 99   Nov 99   Dec 99
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  6,937.0  7,426.0  7,777.3  7,612.6  7,631.9  7,649.7  7,683.8  7,717.6  7,757.5  7,789.2  7,831.1  7,835.8  7,898.9  7,934.6  7,984.4
Less: Personal tax and nontax
 payments.........................    968.8  1,070.4  1,159.2  1,113.2  1,123.6  1,124.4  1,130.1  1,143.1  1,154.8  1,167.0  1,162.2  1,184.9  1,193.1  1,201.1  1,213.3
Equals: Disposable personal income  5,968.2  6,355.6  6,618.0  6,499.4  6,508.3  6,525.3  6,553.7  6,574.5  6,602.7  6,622.2  6,668.9  6,650.9  6,705.8  6,733.5  6,771.2
Less: Personal outlays............  5,715.3  6,054.1  6,457.2  6,232.5  6,279.9  6,329.6  6,388.0  6,384.3  6,433.0  6,472.0  6,508.9  6,538.8  6,584.5  6,619.8  6,714.7
  Personal consumption expenditure  5,529.3  5,856.0  6,250.2  6,033.0  6,080.1  6,129.0  6,184.7  6,179.4  6,227.2  6,265.2  6,300.6  6,329.5  6,372.2  6,404.8  6,497.0
  Interest paid by persons........    164.8    173.7    179.7    173.4    173.7    174.5    176.4    178.0    178.9    179.2    180.7    181.7    184.1    186.8    189.4
  Personal transfer payments to the
   rest of the world (net)........     21.2     24.3     27.2     26.1     26.1     26.1     26.9     26.9     26.9     27.6     27.6     27.6     28.2     28.2     28.2
Equals: Personal saving...........    252.9    301.5    160.9    266.9    228.4    195.7    165.7    190.2    169.7    150.2    160.0    112.1    121.3    113.7     56.5
Addenda:
  Disposable personal income:
    Chained (1996) dollars\1\.....  5,854.5  6,168.6  6,320.0  6,258.2  6,265.7  6,280.9  6,278.0  6,298.7  6,323.3  6,324.4  6,356.2  6,316.7  6,357.9  6,379.2  6,400.6
    Per capita:
      Current dollars.............   22,262   23,491   24,242   23,902   23,922   23,970   24,058   24,117   24,201   24,251   24,400   24,313   24,493   24,576   24,697
      Chained (1996) dollars......   21,838   22,800   23,150   23,016   23,030   23,072   23,046   23,105   23,176   23,160   23,256   23,091   23,223   23,283   23,345
    Population (thousands) \2\....  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      4.7      2.4      4.1      3.5      3.0      2.5      2.9      2.6      2.3      2.4      1.7      1.8      1.7       .8
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
 deflator for personal consumption expenditures.
2. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population. The monthly estimate is
the average of estimates for the first of the month and the first of the
following month; the annual estimate is the average of the monthly estimates.

Prior to January 2001, first-of-the-month estimates are from Census Bureau
surveys and are consistent with the 1990 Census of Population.  Beginning with
January 2001, first-of-the-month estimates are derived by BEA based on
extrapolations of the Census Bureau estimates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                               Table 2.-The Disposition of Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1998     1999     2000   Jan 00   Feb 00   Mar 00   Apr 00   May 00   Jun 00   Jul 00   Aug 00   Sep 00   Oct 00   Nov 00   Dec 00
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  7,426.0  7,777.3  8,319.2  8,053.6  8,097.3  8,162.3  8,223.1  8,272.2  8,317.9  8,344.2  8,377.4  8,423.0  8,478.7  8,513.5  8,566.7
Less: Personal tax and nontax
 payments.........................  1,070.4  1,159.2  1,288.2  1,233.2  1,246.4  1,256.3  1,269.6  1,274.2  1,288.3  1,289.3  1,300.7  1,310.7  1,321.8  1,329.9  1,337.8
Equals: Disposable personal income  6,355.6  6,618.0  7,031.0  6,820.4  6,850.9  6,906.0  6,953.5  6,998.0  7,029.6  7,055.0  7,076.7  7,112.3  7,156.9  7,183.6  7,228.9
Less: Personal outlays............  6,054.1  6,457.2  6,963.3  6,734.0  6,809.2  6,873.7  6,877.4  6,902.7  6,936.7  6,985.3  7,012.7  7,082.6  7,089.9  7,114.2  7,141.3
  Personal consumption expenditure  5,856.0  6,250.2  6,728.4  6,512.7  6,585.5  6,647.6  6,649.6  6,672.2  6,702.8  6,745.9  6,770.8  6,839.8  6,846.1  6,869.9  6,898.1
  Interest paid by persons........    173.7    179.7    205.3    193.0    195.4    197.8    198.9    201.5    205.0    209.3    211.8    212.7    212.9    213.5    212.3
  Personal transfer payments to the
   rest of the world (net)........     24.3     27.2     29.6     28.4     28.4     28.4     29.0     29.0     29.0     30.1     30.1     30.1     30.8     30.8     30.8
Equals: Personal saving...........    301.5    160.9     67.7     86.4     41.7     32.3     76.1     95.3     92.9     69.7     64.0     29.7     67.0     69.4     87.7
Addenda:
  Disposable personal income:
    Chained (1996) dollars\1\.....  6,168.6  6,320.0  6,539.2  6,422.7  6,424.9  6,447.5  6,494.0  6,534.7  6,542.5  6,549.7  6,571.0  6,578.7  6,611.3  6,628.8  6,664.7
    Per capita:
      Current dollars.............   23,491   24,242   25,528   24,860   24,958   25,143   25,299   25,442   25,538   25,608   25,665   25,772   25,913   25,991   26,136
      Chained (1996) dollars......   22,800   23,150   23,742   23,411   23,406   23,473   23,626   23,758   23,768   23,774   23,830   23,839   23,937   23,984   24,096
    Population (thousands) \2\....  270,560  272,996  275,423  274,347  274,503  274,674  274,859  275,054  275,264  275,496  275,738  275,970  276,191  276,389  276,585
  Personal saving as a percentage
   of disposable personal income..      4.7      2.4      1.0      1.3       .6       .5      1.1      1.4      1.3      1.0       .9       .4       .9      1.0      1.2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
 deflator for personal consumption expenditures.
2. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population. The monthly estimate is
the average of estimates for the first of the month and the first of the
following month; the annual estimate is the average of the monthly estimates.
Prior to January 2001, first-of-the-month estimates are from Census Bureau
surveys and are consistent with the 1990 Census of Population.  Beginning with
January 2001, first-of-the-month estimates are derived by BEA based on
extrapolations of the Census Bureau estimates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                               Table 2.-The Disposition of Personal Income
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1999     2000   Jan 01   Feb 01   Mar 01   Apr 01   May 01   Jun 01/p/
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................  7,777.3  8,319.2  8,604.0  8,640.2  8,676.2  8,701.0  8,717.7  8,745.3
Less: Personal tax and nontax
 payments.........................  1,159.2  1,288.2  1,341.2  1,345.0  1,349.4  1,348.0  1,348.3  1,354.8
Equals: Disposable personal income  6,618.0  7,031.0  7,262.9  7,295.2  7,326.9  7,352.9  7,369.5  7,390.5
Less: Personal outlays............  6,457.2  6,963.3  7,200.8  7,217.0  7,230.8  7,260.4  7,281.7  7,308.3
  Personal consumption expenditure  6,250.2  6,728.4  6,960.4  6,978.5  6,994.0  7,022.7  7,043.1  7,068.8
  Interest paid by persons........    179.7    205.3    210.3    208.4    206.7    207.5    208.3    209.2
  Personal transfer payments to the
   rest of the world (net)........     27.2     29.6     30.1     30.1     30.1     30.2     30.2     30.2
Equals: Personal saving...........    160.9     67.7     62.0     78.2     96.0     92.5     87.8     82.2
Addenda:
  Disposable personal income:
    Chained (1996) dollars\1\.....  6,320.0  6,539.2  6,658.8  6,673.4  6,704.9  6,713.7  6,719.5  6,726.2
    Per capita:
      Current dollars.............   24,242   25,528   26,239   26,335   26,429   26,503   26,542   26,598
      Chained (1996) dollars......   23,150   23,742   24,057   24,091   24,186   24,199   24,202   24,207
    Population (thousands) \2\....  272,996  275,423  276,798  277,011  277,223  277,436  277,649  277,864
  Personal saving as a percentage
   of disposable personal income..      2.4      1.0       .9      1.1      1.3      1.3      1.2      1.1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
 deflator for personal consumption expenditures.
2. Population is the total population of the United States, including the Armed
Forces overseas and the institutionalized population. The monthly estimate is
the average of estimates for the first of the month and the first of the
following month; the annual estimate is the average of the monthly estimates.
Prior to January 2001, first-of-the-month estimates are from Census Bureau
surveys and are consistent with the 1990 Census of Population.  Beginning with
January 2001, first-of-the-month estimates are derived by BEA based on
extrapolations of the Census Bureau estimates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                Table 3.-Personal Income and Its Disposition, Change from Preceding Period
                                                                          [Billions of dollars]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1996     1997     1998   Jan 98   Feb 98   Mar 98   Apr 98   May 98   Jun 98   Jul 98   Aug 98   Sep 98   Oct 98   Nov 98   Dec 98
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................    346.5    389.6    489.0     67.1     56.4     52.2     32.4     44.9     36.2     34.8     40.3     21.3     30.4     32.8     15.7
  Wage and salary disbursements...    201.8    262.4    303.9     34.2     26.7     21.0     21.7     30.9     16.5     20.3     38.1     14.6     23.9     30.6     16.2
    Private industries............    183.5    239.2    275.4     29.4     24.3     19.5     18.9     27.5     14.0     18.6     34.0     11.9     21.4     28.4     14.3
      Goods-producing industries..     44.6     66.9     63.4      4.9      4.3      3.4      4.0      5.3       .6     -2.6     13.2      4.3      3.1      3.6      6.1
        Manufacturing.............     26.2     44.7     38.2      1.5      2.7      3.4       .5      3.3     -1.2     -5.8     10.3      4.1      -.7       .8      1.8
      Distributive industries.....     40.3     57.2     69.3      9.5      7.0      2.0      4.1      9.2      2.5      7.2      8.4      3.6      4.3     10.2      1.2
      Service industries..........     98.6    115.0    142.8     14.9     13.0     14.0     11.0     12.9     10.8     14.1     12.4      3.9     14.1     14.5      7.1
    Government....................     18.3     23.3     28.4      4.8      2.4      1.5      2.8      3.5      2.5      1.6      4.2      2.6      2.5      2.3      1.9
  Other labor income..............     -7.0    -14.6     15.2      8.1      1.9      1.2      2.0      1.5      1.7      1.6      1.6      1.8      1.3      1.5      1.6
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........     47.0     36.5     42.6      8.8      2.8      6.7      1.4      2.2      7.3      4.5     -2.2      2.3     10.6      4.9      6.3
    Farm..........................     12.1     -4.6     -4.1     -2.4     -2.1      -.7      1.3       .8       .7      -.7       .4       .6      1.6       .4       .2
    Nonfarm.......................     35.0     41.0     46.7     11.2      5.0      7.3       .1      1.4      6.6      5.3     -2.7      1.8      8.9      4.4      6.2
  Rental income of persons with
   capital consumption adjustment.     11.8     -1.4     10.3      -.4      1.2      2.0      4.0      2.8      2.7      3.5      2.0      1.4       .0       .8       .6
  Personal dividend income........     43.4     37.5     13.4      -.4      1.5      1.0       .2      -.2      -.5     -1.0      -.9      -.5      -.2      -.7      -.9
  Personal interest income........     18.1     53.4    100.4     15.4     16.0     14.1     10.7      9.3      7.1      5.8      2.4      -.2     -2.8     -5.1     -8.6
  Transfer payments to persons....     42.9     33.4     21.5      4.3      7.9      7.4     -6.4       .2      2.1      1.3      1.4      2.7     -1.0      2.7      1.3
    Old-age, survivors, disability,
     and health insurance benefits     29.6     28.2     12.3      6.7      1.7      1.8     -1.5       .3      -.2      1.0      -.3      1.4     -2.3      -.1       .6
    Government unemployment
     insurance benefits...........       .6     -2.2      -.4     -1.0       .3       .4      -.6      -.2       .6       .6       .5      -.7      -.7      1.4      -.4
     Other........................     12.6      7.4      9.6     -1.4      6.0      5.0     -4.3       .2      1.7      -.3      1.2      2.0      2.0      1.4      1.2
  Less: Personal contributions for
   social insurance...............     11.6     17.5     18.4      3.0      1.6      1.2      1.1      1.7       .9      1.2      2.2       .8      1.2      1.9      1.0
Less: Personal tax and nontax
 payments.........................     91.4     99.1    101.6     12.5      8.6      3.0      5.3     12.2      9.3      7.2     13.5      5.4      5.9     11.7      9.1
Equals: Disposable personal income    255.1    290.5    387.4     54.6     47.9     49.1     27.1     32.7     26.9     27.6     26.8     16.0     24.4     21.1      6.6
Less: Personal outlays............    285.4    309.7    338.8     11.3     47.9     29.2     19.4     64.6     22.4     10.0     31.7     29.2     35.1     20.9     45.1
  Personal consumption expenditure    268.5    291.8    326.7     13.7     47.8     28.1     15.8     63.9     20.9      9.3     31.4     29.0     34.3     21.8     46.1
  Interest paid by persons........     15.2     14.9      8.9     -2.4       .1      1.1      2.2       .6      1.5       .9       .3       .2      -.8      -.9     -1.1
  Personal transfer payments to the
   rest of the world (net)........      1.7      3.0      3.1       .0       .0       .0      1.4       .0       .0      -.1       .0       .0      1.6       .0       .0
Equals: Personal saving...........    -30.3    -19.2     48.6     43.2       .0     19.9      7.7    -31.9      4.5     17.6     -4.9    -13.2    -10.7       .2    -38.4
Addendum:
  Disposable personal income:
   chained (1996) dollars\1\......    138.6    176.8    314.1     46.9     44.6     47.1     17.3     24.6     27.4     13.1     17.3     15.5      9.2     16.4      1.3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated 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]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1997     1998     1999   Jan 99   Feb 99   Mar 99   Apr 99   May 99   Jun 99   Jul 99   Aug 99   Sep 99   Oct 99   Nov 99   Dec 99
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................    389.6    489.0    351.3     15.4     19.3     17.8     34.1     33.8     39.9     31.7     41.9      4.7     63.1     35.7     49.8
  Wage and salary disbursements...    262.4    303.9    279.4     14.3     26.4     12.5     27.3     28.7     22.8     33.7     26.2     21.6     30.8     20.4     33.9
    Private industries............    239.1    275.4    247.8     11.1     23.3     10.3     25.9     26.4     19.9     30.6     22.2     18.8     28.0     17.3     30.8
      Goods-producing industries..     66.9     63.4     50.2     -3.3      5.9      2.4      6.2      7.1      5.0      8.4      1.4      9.0      2.8      4.3      5.7
        Manufacturing.............     44.7     38.2     25.4     -1.2      2.4      2.5      2.6      5.1      2.7      6.4      1.1      5.9       .3      1.7      3.9
      Distributive industries.....     57.2     69.3     72.1      7.2     10.9      1.4      8.0      5.7      5.6      7.5      7.4       .8      9.0      3.6     11.4
      Service industries..........    115.0    142.8    125.5      7.1      6.6      6.5     11.7     13.7      9.3     14.6     13.4      9.0     16.1      9.6     13.7
    Government....................     23.3     28.4     31.6      3.2      3.0      2.3      1.3      2.3      2.9      3.0      4.1      2.8      2.8      3.0      3.1
  Other labor income..............    -14.6     15.2     19.1      2.0      1.6      1.7      1.3      1.6      1.5      1.5      1.5      1.5      1.6      1.5      1.4
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........     36.5     42.6     48.2       .8      1.3      5.4      7.4      -.7     11.8      -.4      7.2     -8.5      8.8      8.4      4.3
    Farm..........................     -4.6     -4.1      1.0      -.7      -.1      -.1       .5      -.2      -.5     -1.1      -.4     -1.6      2.0       .2       .2
    Nonfarm.......................     41.0     46.7     47.2      1.5      1.5      5.4      6.9      -.5     12.3       .7      7.6     -6.9      6.8      8.2      4.1
  Rental income of persons with
   capital consumption adjustment.     -1.4     10.3      9.1       .6       .5       .4       .2       .2       .1      -.1       .1    -14.3     14.3       .2      -.9
  Personal dividend income........     37.5     13.4     -5.2     -1.5     -2.2     -1.5      -.8      -.3       .2       .8      1.5      1.9      2.4      3.0      3.6
  Personal interest income........     53.4    100.4    -14.4    -10.1     -8.6     -6.1      1.1      2.0      2.6      -.9       .7      1.6      3.8      4.7      6.1
  Transfer payments to persons....     33.4     21.5     35.9     14.5      1.9      6.3      -.7      4.2      2.2     -1.0      6.3      2.0      3.2     -1.5      3.3
    Old-age, survivors, disability,
     and health insurance benefits     28.2     12.3      9.9      5.9       .4      1.8       .7       .1       .3       .3      1.4       .7      1.9     -2.5      3.0
    Government unemployment
     insurance benefits...........     -2.2      -.4       .8       .4      -.2       .5     -1.2      1.9      -.5     -1.8      1.8      -.7       .4      -.2     -1.0
     Other........................      7.4      9.6     25.1      8.1      1.7      3.9      -.2      2.3      2.4       .6      3.0      2.0       .9      1.2      1.3
  Less: Personal contributions for
   social insurance...............     17.5     18.4     20.8      5.1      1.8       .7      1.7      1.8      1.4      2.0      1.5      1.1      1.9       .9      1.9
Less: Personal tax and nontax
 payments.........................     99.1    101.6     88.8     -5.3     10.4       .8      5.7     13.0     11.7     12.2     -4.8     22.7      8.2      8.0     12.2
Equals: Disposable personal income    290.5    387.4    262.4     20.7      8.9     17.0     28.4     20.8     28.2     19.5     46.7    -18.0     54.9     27.7     37.7
Less: Personal outlays............    309.7    338.8    403.1      5.8     47.4     49.7     58.4     -3.7     48.7     39.0     36.9     29.9     45.7     35.3     94.9
  Personal consumption expenditure    291.8    326.7    394.2      5.9     47.1     48.9     55.7     -5.3     47.8     38.0     35.4     28.9     42.7     32.6     92.2
  Interest paid by persons........     14.9      8.9      6.0      -.3       .3       .8      1.9      1.6       .9       .3      1.5      1.0      2.4      2.7      2.6
  Personal transfer payments to the
   rest of the world (net)........      3.0      3.1      2.9       .3       .0       .0       .8       .0       .0       .7       .0       .0       .6       .0       .0
Equals: Personal saving...........    -19.2     48.6   -140.6     14.8    -38.5    -32.7    -30.0     24.5    -20.5    -19.5      9.8    -47.9      9.2     -7.6    -57.2
Addendum:
  Disposable personal income:
   chained (1996) dollars\1\......    176.8    314.1    151.4      5.3      7.5     15.2     -2.9     20.7     24.6      1.1     31.8    -39.5     41.2     21.3     21.4
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated 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]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1998     1999     2000   Jan 00   Feb 00   Mar 00   Apr 00   May 00   Jun 00   Jul 00   Aug 00   Sep 00   Oct 00   Nov 00   Dec 00
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................    489.0    351.3    541.9     69.2     43.7     65.0     60.8     49.1     45.7     26.3     33.2     45.6     55.7     34.8     53.2
  Wage and salary disbursements...    303.9    279.4    365.0     54.9     21.5     37.5     45.1      7.9     40.7     30.7      8.0     36.2     43.5     27.9     25.4
    Private industries............    275.4    247.8    320.9     42.8     18.6     32.2     41.8       .6     42.8     28.1      7.7     34.7     41.5     26.8     25.0
      Goods-producing industries..     63.4     50.2     75.0      9.4      5.5     10.6      7.5     -3.9     11.9     11.6      1.9      5.5     12.4      8.0       .7
        Manufacturing.............     38.2     25.4     48.1      5.1      4.2      4.0      8.3     -3.1     10.1      9.4      -.5      3.6      9.1      4.6      -.6
      Distributive industries.....     69.3     72.1     74.6      8.0       .4      7.6     12.0     -4.1     10.9      8.6     -3.6     12.5     10.6      4.6      8.3
      Service industries..........    142.8    125.5    171.3     25.3     12.7     14.0     22.3      8.6     20.0      7.9      9.4     16.7     18.5     14.2     16.0
    Government....................     28.4     31.6     44.1     12.2      2.9      5.3      3.4      7.2     -2.1      2.6       .4      1.4      2.0      1.1       .3
  Other labor income..............     15.2     19.1     24.5      3.5      2.4      1.9      2.3      1.7      2.7      2.9      2.5      2.6      2.4      2.0      2.1
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........     42.6     48.2     43.0     -7.0      6.0     15.5       .5      7.2      8.1    -11.9      9.9     -3.4      1.4      3.7      3.1
    Farm..........................     -4.1      1.0      4.0      -.8       .7      1.4      3.3      1.7      1.0     -1.9      -.2      -.1       .1       .1       .2
    Nonfarm.......................     46.7     47.2     39.0     -6.1      5.1     14.2     -2.7      5.4      7.1    -10.0     10.1     -3.3      1.3      3.6      2.9
  Rental income of persons with
   capital consumption adjustment.     10.3      9.1     -6.1     -2.3     -1.3     -1.3     -1.1     -1.1     -1.1     -1.9      -.3       .4       .9      2.0      3.0
  Personal dividend income........     13.4     -5.2     36.1      4.3      4.3      4.2      3.9      3.9      4.3      4.2      4.2      3.9      3.7      3.2      3.0
  Personal interest income........    100.4    -14.4     50.6      9.5      7.1      6.9      7.7      5.4      4.2      2.4      2.5      1.9       .5      1.3      1.3
  Transfer payments to persons....     21.5     35.9     49.5     10.9      4.6      2.1      4.9     23.9    -11.2      1.6      6.4      5.8      5.6     -4.1     16.5
    Old-age, survivors, disability,
     and health insurance benefits     12.3      9.9     29.3      8.5      2.4      2.9      2.2     20.9    -10.7     -1.8      4.3      4.3     -1.6     -1.3     11.2
    Government unemployment
     insurance benefits...........      -.4       .8      0.0       .7       .2     -2.0      1.4       .2     -1.4      1.7      -.6       .8      2.3     -1.8      1.8
     Other........................      9.6     25.1     20.3      1.7      2.0      1.2      1.4      2.6      1.0      1.7      2.7       .8      4.9     -1.1      3.6
  Less: Personal contributions for
   social insurance...............     18.4     20.8     20.6      4.7       .8      1.8      2.4      -.1      2.1      1.6       .0      1.9      2.2      1.3      1.1
Less: Personal tax and nontax
 payments.........................    101.6     88.8    129.0     19.9     13.2      9.9     13.3      4.6     14.1      1.0     11.4     10.0     11.1      8.1      7.9
Equals: Disposable personal income    387.4    262.4    413.0     49.2     30.5     55.1     47.5     44.5     31.6     25.4     21.7     35.6     44.6     26.7     45.3
Less: Personal outlays............    338.8    403.1    506.1     19.3     75.2     64.5      3.7     25.3     34.0     48.6     27.4     69.9      7.3     24.3     27.1
  Personal consumption expenditure    326.7    394.2    478.2     15.7     72.8     62.1      2.0     22.6     30.6     43.1     24.9     69.0      6.3     23.8     28.2
  Interest paid by persons........      8.9      6.0     25.6      3.6      2.4      2.4      1.1      2.6      3.5      4.3      2.5       .9       .2       .6     -1.2
  Personal transfer payments to the
   rest of the world (net)........      3.1      2.9      2.4       .2       .0       .0       .6       .0       .0      1.1       .0       .0       .7       .0       .0
Equals: Personal saving...........     48.6   -140.6    -93.2     29.9    -44.7     -9.4     43.8     19.2     -2.4    -23.2     -5.7    -34.3     37.3      2.4     18.3
Addendum:
  Disposable personal income:
   chained (1996) dollars\1\......    314.1    151.4    219.2     22.1      2.2     22.6     46.5     40.7      7.8      7.2     21.3      7.7     32.6     17.5     35.9
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated 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]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1999     2000   Jan 01   Feb 01   Mar 01   Apr 01   May 01   Jun 01/p/
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income...................    351.3    541.9     37.3     36.2     36.0     24.8     16.7     27.6
  Wage and salary disbursements...    279.4    365.0     23.3     29.1     22.0     18.8       .0     20.0
    Private industries............    247.8    320.9     16.2     23.9     18.8     15.4     -2.7     17.0
      Goods-producing industries..     50.2     75.0      3.5      4.1      4.4     -2.5     -3.8     -1.0
        Manufacturing.............     25.4     48.1      -.7       .9       .2      3.1     -8.0     -2.4
      Distributive industries.....     72.1     74.6      4.7      3.3      1.2      4.7     -1.1      5.5
      Service industries..........    125.5    171.3      8.0     16.4     13.3     13.3      2.2     12.4
    Government....................     31.6     44.1      7.2      5.3      3.1      3.3      2.8      3.1
  Other labor income..............     19.1     24.5      1.2      1.1      1.0      1.0       .7       .9
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments........     48.2     43.0      3.2      2.0      6.5       .9      6.6      5.0
    Farm..........................      1.0      4.0     -1.0      -.7     -1.8       .8       .5      -.8
    Nonfarm.......................     47.2     39.0      4.2      2.7      8.3       .1      6.1      5.8
  Rental income of persons with
   capital consumption adjustment.      9.1     -6.1     -2.9     -1.9     -1.7      1.2      2.4       .6
  Personal dividend income........     -5.2     36.1      2.6      2.5      2.4      2.4      2.3      2.4
  Personal interest income........    -14.4     50.6     -1.7     -1.9     -1.7     -1.7     -1.7     -1.7
  Transfer payments to persons....     35.9     49.5     17.2      6.6      8.6      2.9      6.0      1.1
    Old-age, survivors, disability,
     and health insurance benefits      9.9     29.3     12.9      5.3      4.3      2.7      2.2       .1
    Government unemployment
     insurance benefits...........       .8      0.0       .0       .0       .1       .1       .0       .1
     Other........................     25.1     20.3      4.2      1.3      4.2       .1      3.8       .9
  Less: Personal contributions for
   social insurance...............     20.8     20.6      5.4      1.5      1.0       .8      -.5       .9
Less: Personal tax and nontax
 payments.........................     88.8    129.0      3.4      3.8      4.4     -1.4       .3      6.5
Equals: Disposable personal income    262.4    413.0     34.0     32.3     31.7     26.0     16.6     21.0
Less: Personal outlays............    403.1    506.1     59.5     16.2     13.8     29.6     21.3     26.6
  Personal consumption expenditure    394.2    478.2     62.3     18.1     15.5     28.7     20.4     25.7
  Interest paid by persons........      6.0     25.6     -2.0     -1.9     -1.7       .8       .8       .9
  Personal transfer payments to the
   rest of the world (net)........      2.9      2.4      -.7       .0       .0       .1       .0       .0
Equals: Personal saving...........   -140.6    -93.2    -25.7     16.2     17.8     -3.5     -4.7     -5.6
Addendum:
  Disposable personal income:
   chained (1996) dollars\1\......    151.4    219.2     -5.9     14.6     31.5      8.8      5.8      6.7
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
 deflator for personal consumption expenditures.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                   Table 4-Personal Consumption Expenditures by Major Type of Product
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1996     1997     1998   Jan 98   Feb 98   Mar 98   Apr 98   May 98   Jun 98   Jul 98   Aug 98   Sep 98   Oct 98   Nov 98   Dec 98
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,237.5  5,529.3  5,856.0  5,678.7  5,726.5  5,754.6  5,770.4  5,834.3  5,855.2  5,864.5  5,895.9  5,924.9  5,959.2  5,981.0  6,027.1
  Durable goods...................    616.5    642.5    693.2    663.0    670.7    666.8    673.5    701.4    693.1    681.6    690.8    702.7    718.3    718.7    738.5
  Nondurable goods................  1,574.1  1,641.6  1,708.5  1,667.4  1,676.0  1,683.9  1,686.9  1,698.8  1,705.8  1,711.8  1,716.4  1,721.9  1,733.6  1,744.0  1,755.5
  Services........................  3,047.0  3,245.2  3,454.3  3,348.3  3,379.8  3,403.9  3,410.0  3,434.2  3,456.4  3,471.2  3,488.7  3,500.3  3,507.3  3,518.3  3,533.1
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,237.5  5,423.9  5,683.7  5,537.6  5,582.2  5,608.9  5,616.0  5,671.6  5,693.0  5,689.4  5,711.9  5,739.9  5,759.8  5,777.2  5,817.0
  Durable goods...................    616.5    657.3    726.7    687.5    696.7    693.4    700.0    732.8    726.3    714.1    725.9    741.4    758.2    760.2    783.4
  Nondurable goods................  1,574.1  1,619.9  1,686.4  1,643.6  1,655.2  1,670.1  1,672.7  1,680.7  1,688.1  1,691.1  1,691.3  1,698.4  1,704.9  1,716.9  1,724.2
  Services........................  3,047.0  3,147.0  3,273.4  3,207.4  3,231.5  3,246.2  3,244.6  3,261.3  3,280.9  3,285.6  3,296.7  3,303.4  3,301.5  3,305.1  3,316.3
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Chain-type price indexes (1996=100)
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.   100.00   101.94   103.03   102.55   102.59   102.60   102.76   102.88   102.86   103.08   103.23   103.23   103.47   103.53   103.62
  Durable goods...................   100.00    97.75    95.40    96.42    96.24    96.13    96.18    95.68    95.39    95.43    95.14    94.76    94.71    94.51    94.24
  Nondurable goods................   100.00   101.34   101.31   101.44   101.25   100.83   100.85   101.08   101.05   101.22   101.49   101.39   101.69   101.59   101.83
  Services........................   100.00   103.12   105.53   104.40   104.60   104.86   105.11   105.31   105.36   105.65   105.83   105.97   106.24   106.46   106.54
Addendum:
  Personal consumption expenditures
     less food and energy.........   100.00   101.94   103.48   102.71   102.89   103.00   103.23   103.35   103.30   103.56   103.74   103.78   103.97   104.05   104.20
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                       Change from preceding period
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    268.5    291.8    326.7     13.7     47.8     28.1     15.8     63.9     20.9      9.3     31.4     29.0     34.3     21.8     46.1
  Durable goods...................     26.8     26.0     50.7     -1.9      7.7     -3.9      6.7     27.9     -8.3    -11.5      9.2     11.9     15.6       .4     19.8
  Nondurable goods................     76.8     67.5     66.9      7.5      8.6      7.9      3.0     11.9      7.0      6.0      4.6      5.5     11.7     10.4     11.5
  Services........................    165.0    198.2    209.1      8.2     31.5     24.1      6.1     24.2     22.2     14.8     17.5     11.6      7.0     11.0     14.8
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    161.9    186.4    259.8      7.6     44.6     26.7      7.1     55.6     21.4     -3.6     22.5     28.0     19.9     17.4     39.8
  Durable goods...................     33.0     40.8     69.4     -1.1      9.2     -3.3      6.6     32.8     -6.5    -12.2     11.8     15.5     16.8      2.0     23.2
  Nondurable goods................     45.1     45.8     66.5      7.6     11.6     14.9      2.6      8.0      7.4      3.0       .2      7.1      6.5     12.0      7.3
  Services........................     83.6    100.0    126.4       .9     24.1     14.7     -1.6     16.7     19.6      4.7     11.1      6.7     -1.9      3.6     11.2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                   Table 4-Personal Consumption Expenditures by Major Type of Product
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1997     1998     1999   Jan 99   Feb 99   Mar 99   Apr 99   May 99   Jun 99   Jul 99   Aug 99   Sep 99   Oct 99   Nov 99   Dec 99
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,529.3  5,856.0  6,250.2  6,033.0  6,080.1  6,129.0  6,184.7  6,179.4  6,227.2  6,265.2  6,300.6  6,329.5  6,372.2  6,404.8  6,497.0
  Durable goods...................    642.5    693.2    760.9    711.1    734.2    749.4    760.7    738.3    765.5    765.3    768.3    770.1    778.4    784.7    805.1
  Nondurable goods................  1,641.6  1,708.5  1,831.3  1,767.0  1,777.4  1,784.7  1,810.4  1,817.0  1,816.8  1,824.9  1,841.3  1,857.9  1,871.9  1,880.2  1,926.5
  Services........................  3,245.2  3,454.3  3,658.0  3,555.0  3,568.5  3,594.8  3,613.6  3,624.0  3,644.9  3,674.9  3,690.9  3,701.4  3,721.9  3,739.9  3,765.4
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,423.9  5,683.7  5,968.4  5,809.2  5,853.4  5,899.4  5,924.6  5,920.2  5,963.6  5,983.5  6,005.2  6,011.4  6,041.7  6,067.7  6,141.4
  Durable goods...................    657.3    726.7    817.8    755.3    783.3    803.0    814.2    791.4    822.9    823.5    828.1    829.9    840.3    848.8    873.3
  Nondurable goods................  1,619.9  1,686.4  1,766.4  1,728.4  1,740.2  1,747.9  1,750.6  1,760.4  1,760.6  1,761.7  1,770.3  1,773.8  1,782.6  1,792.1  1,828.7
  Services........................  3,147.0  3,273.4  3,393.2  3,329.4  3,336.5  3,356.6  3,368.7  3,374.8  3,389.7  3,407.4  3,416.3  3,417.4  3,429.4  3,438.3  3,453.9
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Chain-type price indexes (1996=100)
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.   101.94   103.03   104.72   103.86   103.88   103.90   104.40   104.39   104.43   104.72   104.93   105.30   105.48   105.57   105.80
  Durable goods...................    97.75    95.40    93.04    94.12    93.71    93.30    93.41    93.28    93.02    92.91    92.77    92.79    92.62    92.43    92.18
  Nondurable goods................   101.34   101.31   103.67   102.24   102.15   102.12   103.43   103.23   103.21   103.61   104.03   104.76   105.03   104.93   105.37
  Services........................   103.12   105.53   107.80   106.78   106.96   107.11   107.28   107.39   107.54   107.86   108.05   108.32   108.54   108.78   109.03
Addendum:
  Personal consumption expenditures
     less food and energy.........   101.94   103.48   104.99   104.43   104.46   104.43   104.70   104.74   104.82   105.03   105.07   105.37   105.52   105.59   105.74
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                       Change from preceding period
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    291.8    326.7    394.2      5.9     47.1     48.9     55.7     -5.3     47.8     38.0     35.4     28.9     42.7     32.6     92.2
  Durable goods...................     26.0     50.7     67.7    -27.4     23.1     15.2     11.3    -22.4     27.2      -.2      3.0      1.8      8.3      6.3     20.4
  Nondurable goods................     67.5     66.9    122.8     11.5     10.4      7.3     25.7      6.6      -.2      8.1     16.4     16.6     14.0      8.3     46.3
  Services........................    198.2    209.1    203.7     21.9     13.5     26.3     18.8     10.4     20.9     30.0     16.0     10.5     20.5     18.0     25.5
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    186.4    259.8    284.7     -7.8     44.2     46.0     25.2     -4.4     43.4     19.9     21.7      6.2     30.3     26.0     73.7
  Durable goods...................     40.8     69.4     91.1    -28.1     28.0     19.7     11.2    -22.8     31.5       .6      4.6      1.8     10.4      8.5     24.5
  Nondurable goods................     45.8     66.5     80.0      4.2     11.8      7.7      2.7      9.8       .2      1.1      8.6      3.5      8.8      9.5     36.6
  Services........................    100.0    126.4    119.8     13.1      7.1     20.1     12.1      6.1     14.9     17.7      8.9      1.1     12.0      8.9     15.6
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                   Table 4-Personal Consumption Expenditures by Major Type of Product
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1998     1999     2000   Jan 00   Feb 00   Mar 00   Apr 00   May 00   Jun 00   Jul 00   Aug 00   Sep 00   Oct 00   Nov 00   Dec 00
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,856.0  6,250.2  6,728.4  6,512.7  6,585.5  6,647.6  6,649.6  6,672.2  6,702.8  6,745.9  6,770.8  6,839.8  6,846.1  6,869.9  6,898.1
  Durable goods...................    693.2    760.9    819.6    813.6    827.3    821.2    817.3    813.5    810.6    814.7    819.5    842.0    824.8    819.1    812.2
  Nondurable goods................  1,708.5  1,831.3  1,989.6  1,906.6  1,940.3  1,980.8  1,973.5  1,972.3  1,989.1  2,005.5  2,004.6  2,027.1  2,026.6  2,023.5  2,025.3
  Services........................  3,454.3  3,658.0  3,919.2  3,792.5  3,818.0  3,845.6  3,858.8  3,886.4  3,903.1  3,925.7  3,946.7  3,970.7  3,994.8  4,027.3  4,060.6
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,683.7  5,968.4  6,257.8  6,133.0  6,176.0  6,206.2  6,210.1  6,230.5  6,238.3  6,262.8  6,286.9  6,326.7  6,324.2  6,339.4  6,359.7
  Durable goods...................    726.7    817.8    895.5    883.1    900.3    892.9    890.0    884.9    884.5    890.3    898.7    923.3    906.3    899.8    892.2
  Nondurable goods................  1,686.4  1,766.4  1,849.9  1,806.5  1,822.7  1,842.3  1,840.4  1,845.4  1,848.8  1,859.3  1,864.6  1,868.3  1,868.4  1,863.9  1,868.0
  Services........................  3,273.4  3,393.2  3,527.7  3,458.9  3,470.6  3,487.1  3,495.2  3,514.4  3,519.2  3,527.7  3,539.1  3,553.9  3,565.4  3,589.7  3,611.4
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Chain-type price indexes (1996=100)
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.   103.03   104.72   107.52   106.20   106.64   107.12   107.08   107.10   107.45   107.72   107.70   108.12   108.26   108.37   108.47
  Durable goods...................    95.40    93.04    91.53    92.12    91.88    91.96    91.82    91.93    91.65    91.50    91.18    91.20    91.01    91.03    91.03
  Nondurable goods................   101.31   103.67   107.55   105.56   106.47   107.53   107.24   106.88   107.60   107.87   107.52   108.50   108.47   108.57   108.43
  Services........................   105.53   107.80   111.10   109.65   110.02   110.29   110.41   110.60   110.92   111.29   111.53   111.74   112.05   112.20   112.45
Addendum:
  Personal consumption expenditures
     less food and energy.........   103.48   104.99   107.02   106.12   106.35   106.62   106.74   106.83   106.88   107.11   107.21   107.43   107.55   107.68   107.73
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                       Change from preceding period
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    326.7    394.2    478.2     15.7     72.8     62.1      2.0     22.6     30.6     43.1     24.9     69.0      6.3     23.8     28.2
  Durable goods...................     50.7     67.7     58.7      8.5     13.7     -6.1     -3.9     -3.8     -2.9      4.1      4.8     22.5    -17.2     -5.7     -6.9
  Nondurable goods................     66.9    122.8    158.3    -19.9     33.7     40.5     -7.3     -1.2     16.8     16.4      -.9     22.5      -.5     -3.1      1.8
  Services........................    209.1    203.7    261.2     27.1     25.5     27.6     13.2     27.6     16.7     22.6     21.0     24.0     24.1     32.5     33.3
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    259.8    284.7    289.4     -8.4     43.0     30.2      3.9     20.4      7.8     24.5     24.1     39.8     -2.5     15.2     20.3
  Durable goods...................     69.4     91.1     77.7      9.8     17.2     -7.4     -2.9     -5.1      -.4      5.8      8.4     24.6    -17.0     -6.5     -7.6
  Nondurable goods................     66.5     80.0     83.5    -22.2     16.2     19.6     -1.9      5.0      3.4     10.5      5.3      3.7       .1     -4.5      4.1
  Services........................    126.4    119.8    134.5      5.0     11.7     16.5      8.1     19.2      4.8      8.5     11.4     14.8     11.5     24.3     21.7
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                   Table 4-Personal Consumption Expenditures by Major Type of Product
                                                    [Billions of dollars; months seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1999     2000   Jan 01   Feb 01   Mar 01   Apr 01   May 01   Jun 01/p/
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  6,250.2  6,728.4  6,960.4  6,978.5  6,994.0  7,022.7  7,043.1  7,068.8
  Durable goods...................    760.9    819.6    832.1    844.4    837.7    839.6    838.0    850.6
  Nondurable goods................  1,831.3  1,989.6  2,056.2  2,048.6  2,036.5  2,056.0  2,069.0  2,064.2
  Services........................  3,658.0  3,919.2  4,072.1  4,085.4  4,119.8  4,127.0  4,136.2  4,154.0
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.  5,968.4  6,257.8  6,381.5  6,383.6  6,400.3  6,412.1  6,422.0  6,433.5
  Durable goods...................    817.8    895.5    912.7    929.4    925.3    929.6    931.8    946.4
  Nondurable goods................  1,766.4  1,849.9  1,891.2  1,874.8  1,868.1  1,877.7  1,883.5  1,879.0
  Services........................  3,393.2  3,527.7  3,593.6  3,598.0  3,623.7  3,622.4  3,624.6  3,628.4
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Chain-type price indexes (1996=100)
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.   104.72   107.52   109.08   109.32   109.28   109.53   109.68   109.88
  Durable goods...................    93.04    91.53    91.18    90.86    90.54    90.33    89.93    89.88
  Nondurable goods................   103.67   107.55   108.73   109.28   109.02   109.50   109.85   109.86
  Services........................   107.80   111.10   113.33   113.56   113.70   113.94   114.13   114.50
Addendum:
  Personal consumption expenditures
     less food and energy.........   104.99   107.02   108.16   108.40   108.45   108.61   108.54   108.77
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                       Change from preceding period
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Billions of current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    394.2    478.2     62.3     18.1     15.5     28.7     20.4     25.7
  Durable goods...................     67.7     58.7     19.9     12.3     -6.7      1.9     -1.6     12.6
  Nondurable goods................    122.8    158.3     30.9     -7.6    -12.1     19.5     13.0     -4.8
  Services........................    203.7    261.2     11.5     13.3     34.4      7.2      9.2     17.8
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Billions of chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures.    284.7    289.4     21.8      2.1     16.7     11.8      9.9     11.5
  Durable goods...................     91.1     77.7     20.5     16.7     -4.1      4.3      2.2     14.6
  Nondurable goods................     80.0     83.5     23.2    -16.4     -6.7      9.6      5.8     -4.5
  Services........................    119.8    134.5    -17.8      4.4     25.7     -1.3      2.2      3.8
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                    Table 5.-Percent Change From Preceding Period in Selected Series
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1996     1997     1998   Jan 98   Feb 98   Mar 98   Apr 98   May 98   Jun 98   Jul 98   Aug 98   Sep 98   Oct 98   Nov 98   Dec 98
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Based on current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal income...................      5.6      6.0      7.0       .9       .8       .7       .4       .6       .5       .5       .5       .3       .4       .4       .2
Disposable personal income........      4.7      5.1      6.5       .9       .8       .8       .4       .5       .4       .4       .4       .2       .4       .3       .1
Personal consumption expenditures.      5.4      5.6      5.9       .2       .8       .5       .3      1.1       .4       .2       .5       .5       .6       .4       .8
  Durable goods...................      4.5      4.2      7.9      -.3      1.2      -.6      1.0      4.1     -1.2     -1.6      1.3      1.7      2.2       .1      2.8
  Nondurable goods................      5.1      4.3      4.1       .5       .5       .5       .2       .7       .4       .4       .3       .3       .7       .6       .7
  Services........................      5.7      6.5      6.4       .2       .9       .7       .2       .7       .6       .4       .5       .3       .2       .3       .4
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Based on chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income........      2.5      3.1      5.4       .8       .7       .8       .3       .4       .4       .2       .3       .2       .1       .3       .0
Personal consumption expenditures.      3.2      3.6      4.8       .1       .8       .5       .1      1.0       .4      -.1       .4       .5       .3       .3       .7
  Durable goods...................      5.6      6.6     10.5      -.2      1.3      -.5       .9      4.7      -.9     -1.7      1.7      2.1      2.3       .3      3.1
  Nondurable goods................      2.9      2.9      4.1       .5       .7       .9       .2       .5       .4       .2       .0       .4       .4       .7       .4
  Services........................      2.8      3.3      4.0       .0       .7       .5      -.1       .5       .6       .1       .3       .2      -.1       .1       .3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                    Table 5.-Percent Change From Preceding Period in Selected Series
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1997     1998     1999   Jan 99   Feb 99   Mar 99   Apr 99   May 99   Jun 99   Jul 99   Aug 99   Sep 99   Oct 99   Nov 99   Dec 99
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Based on current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal income...................      6.0      7.0      4.7       .2       .3       .2       .4       .4       .5       .4       .5       .1       .8       .5       .6
Disposable personal income........      5.1      6.5      4.1       .3       .1       .3       .4       .3       .4       .3       .7      -.3       .8       .4       .6
Personal consumption expenditures.      5.6      5.9      6.7       .1       .8       .8       .9      -.1       .8       .6       .6       .5       .7       .5      1.4
  Durable goods...................      4.2      7.9      9.8     -3.7      3.2      2.1      1.5     -2.9      3.7       .0       .4       .2      1.1       .8      2.6
  Nondurable goods................      4.3      4.1      7.2       .6       .6       .4      1.4       .4       .0       .4       .9       .9       .8       .4      2.5
  Services........................      6.5      6.4      5.9       .6       .4       .7       .5       .3       .6       .8       .4       .3       .6       .5       .7
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Based on chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income........      3.1      5.4      2.5       .1       .1       .2       .0       .3       .4       .0       .5      -.6       .7       .3       .3
Personal consumption expenditures.      3.6      4.8      5.0      -.1       .8       .8       .4      -.1       .7       .3       .4       .1       .5       .4      1.2
  Durable goods...................      6.6     10.5     12.5     -3.6      3.7      2.5      1.4     -2.8      4.0       .1       .6       .2      1.3      1.0      2.9
  Nondurable goods................      2.9      4.1      4.7       .2       .7       .4       .2       .6       .0       .1       .5       .2       .5       .5      2.0
  Services........................      3.3      4.0      3.7       .4       .2       .6       .4       .2       .4       .5       .3       .0       .3       .3       .5
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                    Table 5.-Percent Change From Preceding Period in Selected Series
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1998     1999     2000   Jan 00   Feb 00   Mar 00   Apr 00   May 00   Jun 00   Jul 00   Aug 00   Sep 00   Oct 00   Nov 00   Dec 00
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Based on current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal income...................      7.0      4.7      7.0       .9       .5       .8       .7       .6       .6       .3       .4       .5       .7       .4       .6
Disposable personal income........      6.5      4.1      6.2       .7       .4       .8       .7       .6       .5       .4       .3       .5       .6       .4       .6
Personal consumption expenditures.      5.9      6.7      7.7       .2      1.1       .9       .0       .3       .5       .6       .4      1.0       .1       .3       .4
  Durable goods...................      7.9      9.8      7.7      1.1      1.7      -.7      -.5      -.5      -.4       .5       .6      2.8     -2.0      -.7      -.8
  Nondurable goods................      4.1      7.2      8.6     -1.0      1.8      2.1      -.4      -.1       .9       .8       .0      1.1       .0      -.1       .1
  Services........................      6.4      5.9      7.1       .7       .7       .7       .3       .7       .4       .6       .5       .6       .6       .8       .8
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Based on chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income........      5.4      2.5      3.5       .3       .0       .4       .7       .6       .1       .1       .3       .1       .5       .3       .5
Personal consumption expenditures.      4.8      5.0      4.8      -.1       .7       .5       .1       .3       .1       .4       .4       .6       .0       .2       .3
  Durable goods...................     10.5     12.5      9.5      1.1      1.9      -.8      -.3      -.6       .0       .7       .9      2.7     -1.8      -.7      -.8
  Nondurable goods................      4.1      4.7      4.7     -1.2       .9      1.1      -.1       .3       .2       .6       .3       .2       .0      -.2       .2
  Services........................      4.0      3.7      4.0       .1       .3       .5       .2       .5       .1       .2       .3       .4       .3       .7       .6
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
                                                    Table 5.-Percent Change From Preceding Period in Selected Series
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                       1999     2000   Jan 01   Feb 01   Mar 01   Apr 01   May 01   Jun 01/p/
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Based on current dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Personal income...................      4.7      7.0       .4       .4       .4       .3       .2       .3
Disposable personal income........      4.1      6.2       .5       .4       .4       .4       .2       .3
Personal consumption expenditures.      6.7      7.7       .9       .3       .2       .4       .3       .4
  Durable goods...................      9.8      7.7      2.5      1.5      -.8       .2      -.2      1.5
  Nondurable goods................      7.2      8.6      1.5      -.4      -.6      1.0       .6      -.2
  Services........................      5.9      7.1       .3       .3       .8       .2       .2       .4
                                  ---------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Based on chained (1996) dollars
                                  ---------------------------------------------------------------------------------------------------------------------------------------
Disposable personal income........      2.5      3.5      -.1       .2       .5       .1       .1       .1
Personal consumption expenditures.      5.0      4.8       .3       .0       .3       .2       .2       .2
  Durable goods...................     12.5      9.5      2.3      1.8      -.4       .5       .2      1.6
  Nondurable goods................      4.7      4.7      1.2      -.9      -.4       .5       .3      -.2
  Services........................      3.7      4.0      -.5       .1       .7       .0       .1       .1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------------------------------------------
                                               1998     1999     2000     1998     1999     2000     1998     1999     2000
---------------------------------------------------------------------------------------------------------------------------
Personal income..................... <  1>   7426.0   7777.3   8319.2     35.0    -12.3     37.5       .5      -.7       .7
 Wage and salary disbursements.......   2    4192.8   4472.2   4837.2      2.1      2.2     67.8       .0       .0      1.5
   Private industries................   3    3500.1   3747.9   4068.8      2.1      2.3     60.3       .0       .0      1.6
     Goods-producing industries......   4    1038.5   1088.7   1163.7      -.1      -.5     10.5       .0      -.1      1.0
       Manufacturing.................   5     756.6    782.0    830.1       .0      -.4     14.2       .0       .0      1.9
     Distributive industries.........   6     948.9   1021.0   1095.6      -.2       .7    -11.7       .0       .1     -1.2
     Service industries..............   7    1512.7   1638.2   1809.5      2.4      2.2     61.5       .2       .0      3.7
   Government........................   8     692.7    724.3    768.4       .0      -.1      7.5       .0       .0      1.1
 Other labor income..................   9     490.6    509.7    534.2      5.1      8.7     10.2      1.1       .7      0.2
 Proprietors' income with IVA CCA....  10     623.8    672.0    715.0      3.1      8.5      4.6       .5       .8     -0.7
   Farm..............................  11      25.6     26.6     30.6       .2      1.3      8.0       .5      4.3     25.9
   Nonfarm...........................  12     598.2    645.4    684.4      3.0      7.2     -3.4       .6       .7     -1.8
 Rental income of persons with CCA...  13     138.6    147.7    141.6      3.2      4.3      1.6      2.5       .7     -1.7
 Personal dividend income............  14     348.3    343.1    379.2     -2.8    -27.2    -17.4      -.8     -7.0      3.4
 Personal interest income............  15     964.4    950.0   1000.6     23.6    -13.7    -33.7      2.7     -3.9     -2.0
 Transfer payments to persons........  16     983.7   1019.6   1069.1       .7      3.4      1.3       .0       .2      -.2
   Old-age, survivors, disability,
    and health insurance benefits....  17     578.1    588.0    617.3       .1       .0     -5.1       .0       .0      -.9
   Government unemployment
    insurance benefits...............  18      19.5     20.3     20.3       .0       .0       .2      -.2       .1      1.1
    Other............................  19     386.1    411.2    431.5       .7      3.3      6.2       .1       .7       .6
 Less: Personal contributions for
  social insurance...................  20     316.3    337.1    357.7       .1     -1.4     -3.0       .0      -.4      -.5
Less: Personal tax and nontax
 payments............................  21    1070.4   1159.2   1288.2      -.5      7.2     -3.7       .0       .7     -1.0
Equals: Disposable personal income...  22    6355.6   6618.0   7031.0     35.6    -19.7     41.2       .6      -.9       .9
Less: Personal outlays...............  23    6054.1   6457.2   6963.3      -.6    -32.9    -35.0       .0      -.5       .0
 Personal consumption expenditures...  24    5856.0   6250.2   6728.4      5.1    -18.5    -28.9       .1      -.4      -.1
  Durable goods......................  25     693.2    760.9    819.6      -.7      -.4      -.7      -.1       .1      -.1
  Nondurable goods...................  26    1708.5   1831.3   1989.6       .9    -14.2    -20.4       .1      -.9      -.3
  Services...........................  27    3454.3   3658.0   3919.2      5.0     -3.9     -7.8       .1      -.3      -.1
 Interest paid by persons............  28     173.7    179.7    205.3     -6.1    -15.1     -6.9     -3.7     -4.9      5.3
 Personal transfer payments to the
  rest of the world (net)............  29      24.3     27.2     29.6       .3       .6       .8      1.3      1.0       .4
Equals: Personal saving..............  30     301.5    160.9     67.7     36.1     13.3     76.2     14.3     -2.2     47.8
Addendum:
 Disposable personal income:
  chained (1996) dollars\1\..........  31    6168.6   6320.0   6539.2     34.5    -11.0     28.2       .6      -.7       .7
   Per capita:
     Current dollars.................  32     23491    24242    25528      132      -72      149       .6      -.9       .9
     Chained (1996) dollars..........  33     22800    23150    23742      128      -41      102       .6      -.8       .7
   Population (mid-period millions)\2\ 34     270.6    273.0    275.4       .0       .0       .0       .0       .0       .0
 Personal saving as a percentage
  of disposable personal income..... < 35>      4.7      2.4      1.0       .5       .2      1.1     11.9     -1.3     46.2
---------------------------------------------------------------------------------------------------------------------------
IVA Inventory valuation adjustment
CCA 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
2. Population is the total population of the United States, including the Armed
   Forces overseas and the institutionalized population. The monthly estimate is
   the average of estimates for the first of the month and the first of the
   following month; the annual estimate is the average of the monthly estimates.
   Prior to January 2001, first-of-the-month estimates are from Census Bureau
   surveys and are consistent with the 1990 Census of Population. Beginning with
   January 2001, first-of-the-month estimates are derived by BEA based on
   extrapolations of the Census Bureau estimates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
                                                     Table 7.--Personal Income, Disposable Personal Income, PCE and
                                                         Personal Savings: Change in Levels and Percent Changes
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
               |              Personal Income              |           Disposable Personal Income       |     Personal Consumption Expenditures     | Personal Savings as
               |------------------------------------------------------------------------------------------------------------------------------------| a percentage of DPI
               | Billions of dollars |        Percent      |  Billions of dollars |        Percent      |  Billions of dollars|        Percent      |
               ----------------------------------------------------------------------------------------------------------------------------------------------------------
               Previously   Revised   Previously   Revised  Previously   Revised   Previously   Revised  Previously   Revised  Previously   Revised  Previously   Revised
               published              published             published              published             published             published             published
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1998........         454.0      489.0        6.5        7.0      351.8      387.4        5.9        6.5      321.6      326.7        5.8        5.9        4.2        4.7
1999........         398.6      351.3        5.4        4.7      317.7      262.4        5.0        4.1      417.8      394.2        7.1        6.7        2.2        2.4
2000........         492.1      541.9        6.3        7.0      352.1      413.0        5.3        6.2      488.6      478.2        7.8        7.7        -.1        1.0
     1998:
January.....          53.8       67.1         .8         .9       40.3       54.6         .7         .9       13.5       13.7         .2         .2        4.6        4.9
February....          47.2       56.4         .7         .8       37.1       47.9         .6         .8       35.0       47.8         .6         .8        4.6        4.8
March.......          38.3       52.2         .5         .7       35.8       49.1         .6         .8       32.4       28.1         .6         .5        4.6        5.1
April.......          27.3       32.4         .4         .4       23.4       27.1         .4         .4       17.5       15.8         .3         .3        4.7        5.2
May.........          44.9       44.9         .6         .6       31.8       32.7         .5         .5       57.1       63.9        1.0        1.1        4.2        4.7
June........          30.8       36.2         .4         .5       22.2       26.9         .4         .4       29.8       20.9         .5         .4        4.0        4.7
July........          35.8       34.8         .5         .5       28.7       27.6         .5         .4       11.7        9.3         .2         .2        4.3        5.0
August......          40.7       40.3         .5         .5       27.4       26.8         .4         .4       31.3       31.4         .5         .5        4.2        4.9
September...          21.5       21.3         .3         .3       16.9       16.0         .3         .2       31.6       29.0         .5         .5        3.9        4.7
October.....          35.1       30.4         .5         .4       28.5       24.4         .4         .4       32.8       34.3         .6         .6        3.8        4.5
November....          67.1       32.8         .9         .4       56.7       21.1         .9         .3       18.2       21.8         .3         .4        4.3        4.5
December....         -12.6       15.7        -.2         .2      -20.0        6.6        -.3         .1       48.6       46.1         .8         .8        3.3        3.9
     1999:
January.....          32.7       15.4         .4         .2       41.7       20.7         .6         .3       24.6        5.9         .4         .1        3.5        4.1
February....          36.8       19.3         .5         .3       27.2        8.9         .4         .1       40.2       47.1         .7         .8        3.2        3.5
March.......          24.8       17.8         .3         .2       25.2       17.0         .4         .3       58.2       48.9        1.0         .8        2.7        3.0
April.......          33.2       34.1         .4         .4       28.2       28.4         .4         .4       39.8       55.7         .6         .9        2.5        2.5
May.........          25.9       33.8         .3         .4       14.1       20.8         .2         .3       13.1       -5.3         .2        -.1        2.5        2.9
June........          67.0       39.9         .9         .5       53.8       28.2         .8         .4       51.4       47.8         .8         .8        2.5        2.6
July........          14.4       31.7         .2         .4        1.4       19.5         .0         .3       25.6       38.0         .4         .6        2.1        2.3
August......          43.7       41.9         .6         .5       48.5       46.7         .7         .7       46.0       35.4         .7         .6        2.1        2.4
September...           5.9        4.7         .1         .1      -18.5      -18.0        -.3        -.3       35.5       28.9         .6         .5        1.3        1.7
October.....          98.7       63.1        1.3         .8       91.7       54.9        1.4         .8       40.4       42.7         .6         .7        2.0        1.8
November....          31.3       35.7         .4         .5       21.6       27.7         .3         .4       33.9       32.6         .5         .5        1.8        1.7
December....          17.3       49.8         .2         .6        1.8       37.7         .0         .6       73.1       92.2        1.1        1.4         .7         .8
     2000:
January.....          62.1       69.2         .8         .9       47.2       49.2         .7         .7       52.6       15.7         .8         .2         .6        1.3
February....          43.2       43.7         .5         .5       27.9       30.5         .4         .4       76.1       72.8        1.2        1.1        -.1         .6
March.......          62.0       65.0         .8         .8       51.9       55.1         .8         .8       36.3       62.1         .5         .9         .1         .5
April.......          47.7       60.8         .6         .7       29.3       47.5         .4         .7       12.4        2.0         .2         .0         .3        1.1
May.........          28.3       49.1         .3         .6       23.8       44.5         .3         .6       18.4       22.6         .3         .3         .3        1.4
June........          41.9       45.7         .5         .6       28.0       31.6         .4         .5       31.0       30.6         .5         .5         .3        1.3
July........          20.5       26.3         .2         .3       14.9       25.4         .2         .4       42.1       43.1         .6         .6        -.2        1.0
August......          26.5       33.2         .3         .4       11.4       21.7         .2         .3       26.0       24.9         .4         .4        -.4         .9
September...          94.1       45.6        1.1         .5       80.8       35.6        1.2         .5       55.0       69.0         .8        1.0         .0         .4
October.....         -14.6       55.7        -.2         .7      -26.8       44.6        -.4         .6       14.5        6.3         .2         .1        -.6         .9
November....          16.1       34.8         .2         .4        7.4       26.7         .1         .4       18.4       23.8         .3         .3        -.8        1.0
December....          38.9       53.2         .5         .6       30.6       45.3         .4         .6       21.8       28.2         .3         .4        -.7        1.2
     2001:
January.....          49.6       37.3         .6         .4       36.4       34.0         .5         .5       75.0       62.3        1.1         .9       -1.3         .9
February....          45.2       36.2         .5         .4       37.3       32.3         .5         .4       15.7       18.1         .2         .3       -1.0        1.1
March.......          40.2       36.0         .5         .4       32.7       31.7         .5         .4       17.9       15.5         .3         .2        -.8        1.3
April.......          17.4       24.8         .2         .3       18.3       26.0         .3         .4       35.6       28.7         .5         .4       -1.0        1.3
May.........          18.2       16.7         .2         .2       14.6       16.6         .2         .2       19.8       20.4         .3         .3       -1.1        1.2
June........          ....       27.6       ....         .3       ....       21.0       ....         .3       ....       25.7       ....         .4       ....        1.1
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Month-to-month changes are at monthly rates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.

>
       Table 8.--Chained(1996) Dollars, Disposable Personal Income and PCE
                                 Percent Changes
----------------------------------------------------------------------------------
                       Real DPI       |        Real PCE      | PCE Implicit
                                      |                      | Price Deflator
                |-----------------------------------------------------------------|
                Previously   Revised   Previously   Revised   Previously   Revised
                published              published              published
----------------------------------------------------------------------------------
1998........            4.8        5.4        4.7        4.8        1.1        1.1
1999........            3.2        2.5        5.3        5.0        1.8        1.6
2000........            2.8        3.5        5.3        4.8        2.4        2.7
     1998:
January.....             .6         .8         .2         .1         .0         .1
February....             .6         .7         .6         .8         .0         .0
March.......             .6         .8         .5         .5         .0         .0
April.......             .2         .3         .1         .1         .2         .1
May.........             .4         .4         .9        1.0         .1         .1
June........             .3         .4         .5         .4         .0         .0
July........             .2         .2         .0        -.1         .2         .2
August......             .3         .3         .4         .4         .1         .1
September...             .2         .2         .5         .5         .0         .0
October.....             .2         .1         .3         .3         .2         .2
November....             .8         .3         .2         .3         .1         .1
December....            -.5         .0         .7         .7         .2         .1
     1999:
January.....             .4         .1         .1        -.1         .3         .2
February....             .4         .1         .6         .8         .0         .0
March.......             .3         .2         .9         .8         .0         .0
April.......            -.1         .0         .1         .4         .5         .5
May.........             .2         .3         .2        -.1         .0         .0
June........             .8         .4         .8         .7         .0         .0
July........            -.2         .0         .2         .3         .2         .3
August......             .6         .5         .6         .4         .2         .2
September...            -.6        -.6         .2         .1         .3         .4
October.....            1.2         .7         .5         .5         .2         .2
November....             .3         .3         .5         .4         .1         .1
December....            -.1         .3        1.0        1.2         .2         .2
     2000:
January.....             .4         .3         .5        -.1         .3         .4
February....            -.1         .0         .7         .7         .5         .4
March.......             .3         .4         .1         .5         .4         .5
April.......             .4         .7         .2         .1         .0         .0
May.........             .4         .6         .3         .3         .0         .0
June........             .1         .1         .2         .1         .3         .3
July........             .0         .1         .4         .4         .3         .3
August......             .3         .3         .5         .4        -.1         .0
September...             .8         .1         .5         .6         .2         .4
October.....            -.5         .5         .0         .0         .2         .1
November....             .0         .3         .1         .2         .1         .1
December....             .3         .5         .2         .3         .1         .1
     2001:
January.....             .0        -.1         .5         .3         .5         .6
February....             .4         .2         .1         .0         .2         .2
March.......             .4         .5         .2         .3         .0         .0
April.......             .0         .1         .3         .2         .2         .2
May.........             .1         .1         .2         .2         .1         .1
June........             ...        .1         ...        .2         ...        .2
----------------------------------------------------------------------------------
Month-to-month changes are at monthly rates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.