News Release

FOR WIRE TRANSMISSION: 8:30 A.M. EDT, MONDAY, APRIL 29, 2002
BEA 02-12

Personal Income, March 2002




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 02-12
Greg Key:                    606-5302  (Personal Outlays)
Recorded message:            606-5303


                      PERSONAL INCOME AND OUTLAYS:  MARCH 2002

 Personal income increased $36.7 billion, or 0.4 percent, and disposable personal income (DPI)
increased $36.4 billion, or 0.5 percent, in March, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $28.8 billion, or 0.4 percent.  In February, personal
income increased $53.2 billion, or 0.6 percent, DPI increased $52.7 billion, or 0.7 percent, and PCE
increased $43.8 billion, or 0.6 percent, based on revised estimates.

                                                        2001                         2002
                                                  Nov.        Dec.        Jan.        Feb.        Mar.
                                                       (Percent change from preceding month)
Personal income, current dollars                  0.0         0.3         0.5         0.6         0.4

Disposable personal income:
  Current dollars                                 0.0         0.2         1.9         0.7         0.5
  Chained (1996) dollars                          0.1         0.4         1.7         0.6         0.3

Personal consumption expenditures:
  Current dollars                                -0.3         0.1         0.5         0.6         0.4
  Chained (1996) dollars                         -0.2         0.3         0.4         0.5         0.2



Wages and salaries

 Private wage and salary disbursements increased $7.8 billion in March, compared with an
increase of $15.9 billion in February.  Goods-producing industries' payrolls increased $3.4 billion,
compared with an increase of $2.0 billion; manufacturing payrolls increased $3.1 billion, compared
with an increase of $0.1 billion.  Distributive industries' payrolls increased $2.0 billion, compared
with an increase of $10.4 billion.  Service industries' payrolls increased $2.3 billion, compared with
an increase of $3.5 billion.  Government wage and salary disbursements increased $3.0 billion,
compared with an increase of $4.1 billion.


Other personal income

 Proprietors' income increased $10.8 billion in March, compared with an increase of $11.0
billion in February.  Farm proprietors' income increased $8.8 billion, compared with an increase of
$7.7 billion.  Nonfarm proprietors' income increased $2.0 billion, compared with an increase of $3.3
billion.

 Transfer payments increased $1.9 billion in March, compared with an increase of $8.7 billion in
February.  Personal interest income increased $1.8 billion, the same increase as in February.
Personal dividend income increased $1.8 billion in March, compared with an increase of $2.2 billion
in February.  Rental income of persons increased $6.3 billion, compared with an increase of $6.4
billion.

 Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $0.2 billion in March, compared with an increase of $0.6 billion in February.


Personal taxes and disposable personal income

 Personal tax and nontax payments increased $0.3 billion in March, compared with an increase
of $0.5 billion in February.  Disposable personal income (DPI) -- personal income less personal tax
and nontax payments -- increased $36.4 billion, or 0.5 percent, in March, compared with an increase
of $52.7 billion, or 0.7 percent, in February.


Personal outlays and personal saving

 Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $25.3 billion in March, compared with an increase of $40.3 billion in
February.  PCE increased $28.8 billion, compared with an increase of $43.8 billion.

 Personal saving -- DPI less personal outlays -- was $172.2 billion in March, compared with
$161.1 billion in February.  Personal saving as a percentage of disposable personal income was 2.2
percent in March, compared with 2.1 percent in February.


Real DPI and real PCE

 Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in March, compared
with an increase of 0.6 percent in February.

 Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in March,
compared with an increase of 0.5 percent in February.  Purchases of durable goods increased 0.7
percent, compared with an increase of 2.3 percent.  Purchases of motor vehicles and parts accounted
for most of the increases in March and February.  Purchases of nondurable goods decreased 0.4
percent in March, compared with a decrease of 0.1 percent in February.  Purchases of services
increased 0.3 percent, compared with an increase of 0.4 percent.


Revisions

 Estimates have been revised for January and February.  Changes in personal income, current-
dollar and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for January
and February -- revised and as published in last month's release -- are shown below.

                                                          Change from preceding month
                                                   January                             February
                                      Previous Revised  Previous Revised   Previous Revised  Previous Revised
                                    (Billions of dollars)   (Percent)    (Billions of dollars)   (Percent)
Personal Income:
  Current dollars.............          44.7    45.4      0.5     0.5        49.9    53.2      0.6     0.6

Disposable personal income:
  Current dollars.............         137.7   139.0      1.8     1.9        49.5    52.7      0.7     0.7
  Chained (1996) dollars......         115.7   117.1      1.7     1.7        39.0    41.5      0.6     0.6

Personal consumption expenditures:
  Current dollars.............          32.5    35.7      0.5     0.5        44.6    43.8      0.6     0.6
  Chained (1996) dollars......          20.2    23.4      0.3     0.4        35.0    33.7      0.5     0.5




 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:

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 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
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    Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
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                               *          *          *


Next release -- Personal Income and Outlays for April will be released on
                Tuesday, May 28, 2002, at 8:30 A.M. EDT.




                                   Table 1.--Personal Income and Its Disposition (Months)
                             [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................    8,775.9    8,771.0    8,759.6    8,757.2    8,784.8    8,830.2    8,883.4    8,920.1
  Wage and salary disbursements.....    5,123.8    5,122.0    5,110.6    5,112.8    5,136.8    5,134.9    5,154.9    5,165.7
    Private industries..............    4,311.9    4,304.8    4,289.7    4,289.8    4,311.1    4,301.1    4,317.0    4,324.8
      Goods-producing industries....    1,197.2    1,193.9    1,184.9    1,179.1    1,179.3    1,174.5    1,176.5    1,179.9
        Manufacturing...............      841.0      836.7      829.1      821.9      820.7      817.9      818.0      821.1
      Distributive industries.......    1,149.5    1,142.6    1,142.6    1,143.3    1,149.8    1,146.7    1,157.1    1,159.1
      Service industries............    1,965.2    1,968.4    1,962.2    1,967.4    1,982.0    1,979.9    1,983.4    1,985.7
    Government......................      811.9      817.2      820.9      822.9      825.7      833.8      837.9      840.9
  Other labor income................      555.3      556.5      557.4      558.5      559.5      564.0      567.6      571.2

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........      757.7      748.6      743.9      739.1      739.3      749.7      760.7      771.5
    Farm............................       32.4       34.7       26.9       19.5       12.4       18.0       25.7       34.5
    Nonfarm.........................      725.4      713.9      717.0      719.6      726.9      731.7      735.0      737.0

  Rental income of persons with
   capital consumption adjustment...      144.4      145.2      146.3      147.7      149.2      154.3      160.7      167.0

  Personal dividend income..........      420.1      423.0      425.8      428.3      431.0      433.6      435.8      437.6

  Personal interest income..........      991.5      988.6      979.7      970.9      962.0      963.8      965.6      967.4

  Transfer payments to persons......    1,157.3    1,160.9    1,168.7    1,172.2    1,180.5    1,208.8    1,217.5    1,219.4
    Old-age, survivors, disability,
     and health insurance benefits..      669.2      670.8      671.7      674.6      679.2      692.4      698.5      695.9
    Government unemployment
     insurance benefits.............       24.0       24.3       24.7       25.1       25.8       26.7       27.2       27.9
    Other...........................      464.2      465.8      472.3      472.4      475.4      489.6      491.8      495.6

  Less: Personal contributions for
   social insurance.................      374.2      373.7      372.6      372.4      373.5      378.8      379.4      379.6

Less: Personal tax and nontax
 payments...........................    1,120.5    1,207.0    1,332.4    1,327.5    1,338.1    1,244.5    1,245.0    1,245.3

Equals: Disposable personal income..    7,655.4    7,564.0    7,427.2    7,429.6    7,446.7    7,585.7    7,638.4    7,674.8

Less: Personal outlays..............    7,333.1    7,210.6    7,418.0    7,397.5    7,404.2    7,437.0    7,477.3    7,502.6
  Personal consumption expenditures.    7,099.7    6,979.4    7,188.3    7,168.9    7,177.4    7,213.1    7,256.9    7,285.7
    Durable goods...................      848.5      820.4      941.2      910.4      877.9      871.5      884.0      888.1
    Nondurable goods................    2,063.8    2,045.5    2,051.0    2,045.9    2,063.7    2,090.5    2,098.0    2,101.6
    Services........................    4,187.4    4,113.6    4,196.1    4,212.7    4,235.8    4,251.2    4,275.0    4,295.9
  Interest paid by persons..........      201.5      199.2      197.7      196.7      194.9      191.5      188.0      184.6
  Personal transfer payments to the
   rest of the world (net)..........       31.9       31.9       31.9       31.9       31.9       32.4       32.4       32.4

Equals: Personal saving.............      322.3      353.4        9.2       32.1       42.5      148.8      161.1      172.2

Addenda:
  Disposable personal income:
    Total, billions of chained
     (1996) dollars\1\..............    6,978.6    6,928.9    6,759.8    6,768.1    6,793.5    6,910.6    6,952.1    6,969.9
    Per capita:
      Current dollars...............     26,733     26,384     25,879     25,862     25,898     26,358     26,518     26,620
      Chained (1996) dollars........     24,370     24,169     23,553     23,560     23,626     24,012     24,136     24,175
    Population (thousands)\2\.......    286,362    286,687    286,999    287,277    287,539    287,798    288,044    288,312

  Personal saving as a percentage
   of disposable personal income....        4.2        4.7         .1         .4         .6        2.0        2.1        2.2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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.
   Estimates for January 1991 through June 2000 are interpolations between Bureau
   of Census population estimates for 1990 and for 2000; estimates for July 2000
   forward are BEA extrapolations.  BEA will substitute monthly Bureau of Census
   population estimates for 1991 forward when they are released in the first part
   of 2002.



                             Table 2.--Personal Income and Its Disposition (Years and Quarters)
                            [Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                           2000       2001      IV 00       I 01      II 01     III 01      IV 01      I 02
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................    8,319.2    8,723.5    8,519.6    8,640.2    8,714.6    8,771.8    8,767.2    8,877.9

  Wage and salary disbursements.....    4,837.2    5,098.2    4,973.2    5,049.4    5,099.8    5,123.4    5,120.0    5,151.8
    Private industries..............    4,068.8    4,292.2    4,196.6    4,260.6    4,300.2    4,311.0    4,296.9    4,314.3
      Goods-producing industries....    1,163.7    1,197.3    1,195.5    1,206.3    1,204.4    1,197.5    1,181.1    1,177.0
        Manufacturing...............      830.1      842.1      852.2      853.3      850.2      841.1      823.9      819.0
      Distributive industries.......    1,095.6    1,145.5    1,125.9    1,140.3    1,148.2    1,148.1    1,145.2    1,154.3
      Service industries............    1,809.5    1,949.4    1,875.2    1,914.0    1,947.6    1,965.4    1,970.6    1,983.0
    Government......................      768.4      806.0      776.6      788.8      799.6      812.5      823.2      837.5
  Other labor income................      534.2      553.8      544.9      549.3      552.2      555.4      558.5      567.6

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........      715.0      743.5      725.2      735.2      745.3      752.7      740.8      760.6
    Farm............................       30.6       27.6       31.7       29.8       28.7       32.3       19.6       26.1
    Nonfarm.........................      684.4      715.9      693.5      705.4      716.6      720.5      721.2      734.6

  Rental income of persons with
   capital consumption adjustment...      141.6      142.6      141.7      139.6      139.0      144.0      147.7      160.7

  Personal dividend income..........      379.2      416.3      396.6      404.8      411.9      420.0      428.4      435.7

  Personal interest income..........    1,000.6      993.6    1,013.1    1,010.9    1,001.0      991.5      970.9      965.6

  Transfer payments to persons......    1,069.1    1,148.8    1,089.0    1,123.1    1,139.4    1,159.0    1,173.8    1,215.2
    Old-age, survivors, disability,
     and health insurance benefits..      617.3      664.4      626.5      651.4      660.1      670.8      675.2      695.6
    Government unemployment
     insurance benefits.............       20.3       23.7       22.1       22.7       23.1       23.9       25.2       27.3
    Other...........................      431.5      460.7      432.8      440.6      456.2      464.3      473.4      492.3

  Less: Personal contributions for
   social insurance.................      357.7      373.3      364.1      372.1      374.0      374.2      372.8      379.3

Less: Personal tax and nontax
 payments...........................    1,288.2    1,306.2    1,329.8    1,345.2    1,351.4    1,195.5    1,332.7    1,244.9

Equals: Disposable personal income..    7,031.0    7,417.3    7,189.8    7,295.0    7,363.2    7,576.4    7,434.5    7,633.0

Less: Personal outlays..............    6,963.3    7,298.9    7,115.1    7,216.2    7,281.7    7,291.0    7,406.6    7,472.3
  Personal consumption expenditures.    6,728.4    7,064.5    6,871.4    6,977.6    7,044.6    7,057.6    7,178.2    7,251.9
    Durable goods...................      819.6      858.3      818.7      838.1      844.7      840.6      909.8      881.2
    Nondurable goods................    1,989.6    2,055.1    2,025.1    2,047.1    2,062.3    2,057.5    2,053.5    2,096.7
    Services........................    3,919.2    4,151.1    4,027.5    4,092.4    4,137.6    4,159.4    4,214.9    4,274.0
  Interest paid by persons..........      205.3      203.2      212.9      208.5      206.3      201.5      196.4      188.0
  Personal transfer payments to the
   rest of the world (net)..........       29.6       31.2       30.8       30.1       30.8       31.9       31.9       32.4

Equals: Personal saving.............       67.7      118.4       74.7       78.8       81.5      285.3       27.9      160.7

Addenda:
  Disposable personal income:
    Total, billions of chained
     (1996) dollars\1\..............    6,539.2    6,772.4    6,634.9    6,679.0    6,719.2    6,917.5    6,773.8    6,944.3
    Per capita:
      Current dollars...............     24,889     25,943     25,331     25,634     25,798     26,457     25,880     26,499
      Chained (1996) dollars........     23,148     23,687     23,376     23,470     23,541     24,157     23,580     24,108
    Population (thousands)\2\.......    282,489    285,908    283,838    284,582    285,418    286,360    287,272    288,051

  Personal saving as a percentage
   of disposable personal income....        1.0        1.6        1.0        1.1        1.1        3.8         .4        2.1
----------------------------------------------------------------------------------------------------------------------------
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 quarterly and
   annual estimates are averages of monthly population estimates.



                    Table 3.--Personal Income and Its Disposition, Change from Preceding Period (Months)
                             [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................        7.4       -4.9      -11.4       -2.4       27.6       45.4       53.2       36.7

  Wage and salary disbursements.....        -.7       -1.8      -11.4        2.2       24.0       -1.9       20.0       10.8
    Private industries..............       -4.3       -7.1      -15.1         .1       21.3      -10.0       15.9        7.8
      Goods-producing industries....       -4.2       -3.3       -9.0       -5.8         .2       -4.8        2.0        3.4
        Manufacturing...............       -4.7       -4.3       -7.6       -7.2       -1.2       -2.8         .1        3.1
      Distributive industries.......       -2.7       -6.9         .0         .7        6.5       -3.1       10.4        2.0
      Service industries............        2.6        3.2       -6.2        5.2       14.6       -2.1        3.5        2.3
    Government......................        3.6        5.3        3.7        2.0        2.8        8.1        4.1        3.0
  Other labor income................         .9        1.2         .9        1.1        1.0        4.5        3.6        3.6

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........        5.8       -9.1       -4.7       -4.8         .2       10.4       11.0       10.8
    Farm............................        2.7        2.3       -7.8       -7.4       -7.1        5.6        7.7        8.8
    Nonfarm.........................        3.1      -11.5        3.1        2.6        7.3        4.8        3.3        2.0

  Rental income of persons with
   capital consumption adjustment...        2.1         .8        1.1        1.4        1.5        5.1        6.4        6.3

  Personal dividend income..........        3.2        2.9        2.8        2.5        2.7        2.6        2.2        1.8

  Personal interest income..........       -2.8       -2.9       -8.9       -8.8       -8.9        1.8        1.8        1.8

  Transfer payments to persons......       -1.5        3.6        7.8        3.5        8.3       28.3        8.7        1.9
    Old-age, survivors, disability,
     and health insurance benefits..       -3.4        1.6         .9        2.9        4.6       13.2        6.1       -2.6
    Government unemployment
     insurance benefits.............         .7         .3         .4         .4         .7         .9         .5         .7
   Other............................        1.3        1.6        6.5         .1        3.0       14.2        2.2        3.8

  Less: Personal contributions for
   social insurance.................        -.5        -.5       -1.1        -.2        1.1        5.3         .6         .2

Less: Personal tax and nontax
 payments...........................     -138.4       86.5      125.4       -4.9       10.6      -93.6         .5         .3

Equals: Disposable personal income..      145.8      -91.4     -136.8        2.4       17.1      139.0       52.7       36.4

Less: Personal outlays..............        3.7     -122.5      207.4      -20.5        6.7       32.8       40.3       25.3
  Personal consumption expenditures.        6.1     -120.3      208.9      -19.4        8.5       35.7       43.8       28.8
    Durable goods...................       -4.5      -28.1      120.8      -30.8      -32.5       -6.4       12.5        4.1
    Nondurable goods................         .5      -18.3        5.5       -5.1       17.8       26.8        7.5        3.6
    Services........................       10.1      -73.8       82.5       16.6       23.1       15.4       23.8       20.9
  Interest paid by persons..........       -2.4       -2.3       -1.5       -1.0       -1.8       -3.4       -3.5       -3.4
  Personal transfer payments to the
   rest of the world (net)..........         .0         .0         .0         .0         .0         .5         .0         .0

Equals: Personal saving.............      142.1       31.1     -344.2       22.9       10.4      106.3       12.3       11.1

Addendum:
  Disposable personal income:
   Chained (1996) dollars\1\........      133.2      -49.7     -169.1        8.3       25.4      117.1       41.5       17.8
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
1. Equals disposable personal income deflated by the implicit price
   deflator for personal consumption expenditures.



              Table 4.--Personal Income and Its Disposition, Change from Preceding Period (Years and Quarters)
                            [Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                           2000       2001      IV 00       I 01      II 01     III 01      IV 01       I 02
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................      541.9      404.3      138.1      120.6       74.4       57.2       -4.6      110.7
  Wage and salary disbursements.....      365.0      261.0       97.4       76.2       50.4       23.6       -3.4       31.8
    Private industries..............      320.9      223.4       93.4       64.0       39.6       10.8      -14.1       17.4
      Goods-producing industries....       75.0       33.6       22.3       10.8       -1.9       -6.9      -16.4       -4.1
        Manufacturing...............       48.1       12.0       14.2        1.1       -3.1       -9.1      -17.2       -4.9
      Distributive industries.......       74.6       49.9       23.5       14.4        7.9        -.1       -2.9        9.1
      Service industries............      171.3      139.9       47.6       38.8       33.6       17.8        5.2       12.4
    Government......................       44.1       37.6        4.0       12.2       10.8       12.9       10.7       14.3
  Other labor income................       24.5       19.6        7.0        4.4        2.9        3.2        3.1        9.1

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........       43.0       28.5        5.9       10.0       10.1        7.4      -11.9       19.8
    Farm............................        4.0       -3.0         .1       -1.9       -1.1        3.6      -12.7        6.5
    Nonfarm.........................       39.0       31.5        5.9       11.9       11.2        3.9         .7       13.4

  Rental income of persons with
   capital consumption adjustment...       -6.1        1.0        3.4       -2.1        -.6        5.0        3.7       13.0

  Personal dividend income..........       36.1       37.1       10.8        8.2        7.1        8.1        8.4        7.3

  Personal interest income..........       50.6       -7.0        3.9       -2.2       -9.9       -9.5      -20.6       -5.3

  Transfer payments to persons......       49.5       79.7       14.4       34.1       16.3       19.6       14.8       41.4
    Old-age, survivors, disability,
     and health insurance benefits..       29.3       47.1        5.6       24.9        8.7       10.7        4.4       20.4
    Government unemployment
     insurance benefits.............         .0        3.4        2.0         .6         .4         .8        1.3        2.1
   Other............................       20.3       29.2        5.7        7.8       15.6        8.1        9.1       18.9

  Less: Personal contributions for
   social insurance.................       20.6       15.6        4.7        8.0        1.9         .2       -1.4        6.5

Less: Personal tax and nontax
 payments...........................      129.0       18.0       29.6       15.4        6.2     -155.9      137.2      -87.8

Equals: Disposable personal income..      413.0      386.3      108.5      105.2       68.2      213.2     -141.9      198.5

Less: Personal outlays..............      506.1      335.6       88.2      101.1       65.5        9.3      115.6       65.7
  Personal consumption expenditures.      478.2      336.1       85.9      106.2       67.0       13.0      120.6       73.7
    Durable goods...................       58.7       38.7       -6.7       19.4        6.6       -4.1       69.2      -28.6
    Nondurable goods................      158.3       65.5       12.7       22.0       15.2       -4.8       -4.0       43.2
    Services........................      261.2      231.9       79.8       64.9       45.2       21.8       55.5       59.1
  Interest paid by persons..........       25.6       -2.1        1.6       -4.4       -2.2       -4.8       -5.1       -8.4
  Personal transfer payments to the
   rest of the world (net)..........        2.4        1.6         .7        -.7         .7        1.1         .0         .5

Equals: Personal saving.............      -93.2       50.7       20.2        4.1        2.7      203.8     -257.4      132.8

Addendum:
  Disposable personal income:
   Chained (1996) dollars\1\........      219.2      233.2       68.4       44.1       40.2      198.3     -143.7      170.5
----------------------------------------------------------------------------------------------------------------------------
1. Equals disposable personal income deflated by the implicit price
   deflator for personal consumption expenditures.



                Table 5.--Personal Income and Its Disposition, Percent Change from Preceding Period (Months)
                                   [Percent; months seasonally adjusted at monthly rates]
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................         .1        -.1        -.1         .0         .3         .5         .6         .4
  Wage and salary disbursements.....         .0         .0        -.2         .0         .5         .0         .4         .2
  Other labor income................         .2         .2         .2         .2         .2         .8         .6         .6
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........         .8       -1.2        -.6        -.6         .0        1.4        1.5        1.4
  Rental income of persons with
   capital consumption adjustment...        1.4         .6         .7        1.0        1.0        3.4        4.2        3.9
  Personal dividend income..........         .8         .7         .6         .6         .6         .6         .5         .4
  Personal interest income..........        -.3        -.3        -.9        -.9        -.9         .2         .2         .2
  Transfer payments to persons......        -.1         .3         .7         .3         .7        2.4         .7         .2
  Less: Personal contributions for
   social insurance.................        -.1        -.1        -.3        -.1         .3        1.4         .1         .1

Less: Personal tax and nontax
 payments...........................      -11.0        7.7       10.4        -.4         .8       -7.0         .0         .0

Equals: Disposable personal income..        1.9       -1.2       -1.8         .0         .2        1.9         .7         .5

Addenda:
  Personal consumption expenditures.         .1       -1.7        3.0        -.3         .1         .5         .6         .4
    Durable goods...................        -.5       -3.3       14.7       -3.3       -3.6        -.7        1.4         .5
    Nondurable goods................         .0        -.9         .3        -.3         .9        1.3         .4         .2
    Services........................         .2       -1.8        2.0         .4         .5         .4         .6         .5

  Disposable personal income, based
   on chained (1996) dollars........        1.9        -.7       -2.4         .1         .4        1.7         .6         .3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



          Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
                                  [Percent; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                           2000       2001      IV 00       I 01      II 01     III 01      IV 01       I 02
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................        7.0        4.9        6.8        5.8        3.5        2.7        -.2        5.1
  Wage and salary disbursements.....        8.2        5.4        8.2        6.3        4.0        1.9        -.3        2.5
  Other labor income................        4.8        3.7        5.3        3.2        2.2        2.3        2.2        6.7
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........        6.4        4.0        3.3        5.6        5.6        4.0       -6.2       11.2
  Rental income of persons with
   capital consumption adjustment...       -4.1         .7       10.2       -5.8       -1.8       15.1       10.8       40.0
  Personal dividend income..........       10.5        9.8       11.7        8.5        7.2        8.1        8.2        7.0
  Personal interest income..........        5.3        -.7        1.6        -.9       -3.8       -3.8       -8.1       -2.2
  Transfer payments to persons......        4.9        7.5        5.5       13.1        5.9        7.1        5.2       14.9
  Less: Personal contributions for
   social insurance.................        6.1        4.4        5.3        9.0        2.1         .3       -1.5        7.1

Less: Personal tax and nontax
 payments...........................       11.1        1.4        9.4        4.7        1.9      -38.8       54.4      -23.9

Equals: Disposable personal income..        6.2        5.5        6.3        6.0        3.8       12.1       -7.3       11.1

Addenda:
  Personal consumption expenditures.        7.7        5.0        5.2        6.3        3.9         .7        7.0        4.2
    Durable goods...................        7.7        4.7       -3.2        9.8        3.2       -1.9       37.2      -12.0
    Nondurable goods................        8.6        3.3        2.6        4.4        3.0        -.9        -.8        8.7
    Services........................        7.1        5.9        8.3        6.6        4.5        2.1        5.4        5.7

  Disposable personal income, based
   on chained (1996) dollars........        3.5        3.6        4.2        2.7        2.4       12.3       -8.1       10.5
----------------------------------------------------------------------------------------------------------------------------



                     Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
                                [Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                               Billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...    6,471.9    6,393.4    6,542.4    6,530.6    6,547.8    6,571.2    6,604.9    6,616.4
  Durable goods.....................      949.3      921.5    1,056.8    1,021.9      986.3      983.1    1,005.5    1,013.0
  Nondurable goods..................    1,896.4    1,859.2    1,878.1    1,886.2    1,916.6    1,935.8    1,934.4    1,927.0
  Services..........................    3,646.5    3,628.6    3,647.7    3,655.7    3,671.1    3,677.5    3,693.7    3,705.9
                                    ----------------------------------------------------------------------------------------
                                                                Change from preceding period in
                                                               billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...        5.7      -78.5      149.0      -11.8       17.2       23.4       33.7       11.5
  Durable goods.....................        -.5      -27.8      135.3      -34.9      -35.6       -3.2       22.4        7.5
  Nondurable goods..................        6.0      -37.2       18.9        8.1       30.4       19.2       -1.4       -7.4
  Services..........................         .3      -17.9       19.1        8.0       15.4        6.4       16.2       12.2
                                    ----------------------------------------------------------------------------------------
                                                            Percent change from preceding period in
                                                            chained (1996) dollars at monthly rates
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...         .1       -1.2        2.3        -.2         .3         .4         .5         .2
  Durable goods.....................        -.1       -2.9       14.7       -3.3       -3.5        -.3        2.3         .7
  Nondurable goods..................         .3       -2.0        1.0         .4        1.6        1.0        -.1        -.4
  Services..........................         .0        -.5         .5         .2         .4         .2         .4         .3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



               Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)
                                       [Quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                           2000       2001      IV 00       I 01      II 01     III 01      IV 01      I 02
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                               Billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...    6,257.8    6,450.3    6,341.1    6,388.5    6,428.4    6,443.9    6,540.3    6,597.5
  Durable goods.....................      895.5      955.6      899.4      922.4      938.1      940.2    1,021.7    1,000.5
  Nondurable goods..................    1,849.9    1,883.3    1,866.8    1,878.0    1,879.4    1,882.0    1,893.6    1,932.4
  Services..........................    3,527.7    3,633.4    3,588.8    3,605.1    3,629.8    3,640.4    3,658.2    3,692.4
                                    ----------------------------------------------------------------------------------------
                                                                Change from preceding period in
                                                               billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...      289.4      192.5       49.0       47.4       39.9       15.5       96.4       57.2
  Durable goods.....................       77.7       60.1       -4.7       23.0       15.7        2.1       81.5      -21.2
  Nondurable goods..................       83.5       33.4        2.7       11.2        1.4        2.6       11.6       38.8
  Services..........................      134.5      105.7       48.6       16.3       24.7       10.6       17.8       34.2
                                    ----------------------------------------------------------------------------------------
                                                            Percent change from preceding period in
                                                             chained (1996) dollars at annual rates
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...        4.8        3.1        3.1        3.0        2.5        1.0        6.1        3.5
  Durable goods.....................        9.5        6.7       -2.1       10.6        7.0         .9       39.4       -8.0
  Nondurable goods..................        4.7        1.8         .6        2.4         .3         .6        2.5        8.4
  Services..........................        4.0        3.0        5.6        1.8        2.8        1.2        2.0        3.8
----------------------------------------------------------------------------------------------------------------------------



   Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                              Chain-type price indexes (1996=100),
                                                                      seasonally adjusted
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...     109.71     109.17     109.88     109.78     109.62     109.78     109.88     110.12
  Durable goods.....................      89.39      89.04      89.07      89.09      89.01      88.65      87.90      87.67
  Nondurable goods..................     108.83     110.02     109.21     108.47     107.67     107.99     108.46     109.07
  Services..........................     114.85     113.38     115.05     115.25     115.39     115.61     115.75     115.93
Addendum:
  Personal consumption expenditures
   less food and energy.............     108.95     108.08     109.25     109.44     109.43     109.50     109.61     109.68
                                    ----------------------------------------------------------------------------------------
                                                              Percent change from preceding period
                                                               in price indexes at monthly rates
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...         .0        -.5         .6        -.1        -.1         .1         .1         .2
  Durable goods.....................        -.5        -.4         .0         .0        -.1        -.4        -.8        -.3
  Nondurable goods..................        -.3        1.1        -.7        -.7        -.7         .3         .4         .6
  Services..........................         .2       -1.3        1.5         .2         .1         .2         .1         .2
Addendum:
  Personal consumption expenditures
   less food and energy.............         .0        -.8        1.1         .2         .0         .1         .1         .1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



              Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income..........        6.2        5.3        2.2        2.1        1.9        3.8        4.2        4.0

Personal consumption expenditures...        2.9        1.1        3.5        3.0        3.0        3.0        3.5        3.4
  Durable goods.....................        5.6        -.2       16.6       13.6       10.5        7.7        8.2        9.5
  Nondurable goods..................        1.7        -.5         .5        1.2        2.6        2.4        3.2        3.2
  Services..........................        3.0        2.1        2.3        1.8        1.7        2.3        2.7        2.3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



    Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
                                         Aug 01     Sep 01     Oct 01     Nov 01     Dec 01   Jan 02/r/  Feb 02/r/  Mar 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures...        1.9        1.0        1.5        1.3        1.1         .6         .5         .8
  Durable goods.....................       -2.0       -2.4       -2.1       -2.1       -2.2       -2.8       -3.3       -3.2
  Nondurable goods..................        1.2        1.4         .7        -.1        -.7        -.7        -.7         .0
  Services..........................        3.0        1.5        2.7        2.7        2.6        2.0        1.9        2.0
Addendum:
  Personal consumption expenditures
   less food and energy.............        1.6         .6        1.6        1.6        1.6        1.2        1.1        1.1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.