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James E. Rankin: (202) 606-5301 (Personal Income) BEA 02-40
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: NOVEMBER 2002
Personal income increased $29.6 billion, or 0.3 percent, and disposable personal income (DPI)
increased $28.5 billion, or 0.4 percent, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $38.5 billion, or 0.5 percent. In October,
personal income increased $26.5 billion, or 0.3 percent, DPI increased $28.5 billion, or 0.4 percent,
and PCE increased $27.3 billion, or 0.4 percent, based on revised estimates.
2002
July Aug. Sept. Oct. Nov.
(Percent change from preceding month)
Personal income, current dollars -0.1 0.3 0.3 0.3 0.3
Disposable personal income:
Current dollars 0.1 0.4 0.4 0.4 0.4
Chained (1996) dollars -0.1 0.2 0.2 0.2 0.3
Personal consumption expenditures:
Current dollars 1.1 0.3 -0.4 0.4 0.5
Chained (1996) dollars 0.9 0.1 -0.6 0.2 0.5
This news release also presents revised estimates of wages and salaries, personal taxes, and
contributions for social insurance for April through June (second quarter).
Wages and salaries
Private wage and salary disbursements increased $17.7 billion in November, compared with an
increase of $9.5 billion in October. Goods-producing industries' payrolls increased $0.4 billion,
compared with an increase of $0.2 billion; manufacturing payrolls decreased $0.6 billion, in contrast
to an increase of $0.6 billion. Distributive industries' payrolls increased $3.5 billion, compared with
an increase of $1.3 billion. Service industries' payrolls increased $13.9 billion, compared with an
increase of $8.1 billion. Government wage and salary disbursements increased $2.0 billion,
compared with an increase of $4.0 billion.
Other personal income
Proprietors' income increased $0.4 billion in November, compared with an increase of $7.3
billion in October. Farm proprietors' income decreased $3.7 billion, compared with a decrease of
$0.7 billion. Nonfarm proprietors' income increased $4.1 billion, compared with an increase of $7.9
billion.
Transfer payments increased $4.3 billion in November; transfer payments were unchanged in
October. Personal interest income decreased $1.2 billion in November, compared with a decrease of
$1.3 billion in October. Personal dividend income increased $2.2 billion, the same increase as in
October. Rental income of persons increased $1.3 billion in November, compared with an increase
of $1.2 billion in October.
Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $1.5 billion in November, compared with an increase of $1.0 billion in October.
Personal taxes and disposable personal income
Personal tax and nontax payments increased $1.1 billion in November, in contrast to a decrease
of $2.0 billion in October. Disposable personal income (DPI) -- personal income less personal tax
and nontax payments -- increased $28.5 billion, or 0.4 percent, in November, compared with an
increase of $28.5 billion, or 0.4 percent, in October.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- increased $38.5 billion in November, compared with an increase of $27.2 billion
in October. PCE increased $38.5 billion, compared with an increase of $27.3 billion.
Personal saving -- DPI less personal outlays -- was $339.8 billion in November, compared with
$349.8 billion in October. Personal saving as a percentage of disposable personal income was 4.3
percent in November, compared with 4.4 percent in October.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in November,
compared with an increase of 0.2 percent in October.
Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in November,
compared with an increase of 0.2 percent in October. Purchases of durable goods increased 1.9
percent, in contrast to a decrease of 1.3 percent. Purchases of motor vehicles and parts accounted for
about half of the November increase and more than accounted for the October decrease. Purchases
of nondurable goods increased 0.4 percent in November, compared with an increase of 0.6 percent in
October. Purchases of services increased 0.2 percent, compared with an increase of 0.3 percent.
Revisions
Estimates for personal income and DPI have been revised for April through October; estimates
for PCE have been revised for July through October. Changes in personal income, current-dollar
and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE for September and
October -- revised and as published in last month's release -- are shown below. Revisions for April
through August were small.
For April through June, the revisions to wages and salaries reflect the incorporation of the most
recently available data from BLS tabulations of private wages and salaries from the state
unemployment insurance program. Personal taxes were revised down based on federal income tax
data from the Monthly Treasury Statement.
Change from preceding month
September October
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars.... 37.5 29.3 0.4 0.3 7.7 26.5 0.1 0.3
Disposable personal income:
Current dollars.... 37.3 30.2 0.5 0.4 14.2 28.5 0.2 0.4
Chained (1996) dollars.. 19.3 13.0 0.3 0.2 -2.2 11.4 0.0 0.2
Personal consumption expenditures:
Current dollars... -31.4 -32.1 -0.4 -0.4 26.9 27.3 0.4 0.4
Chained (1996) dollars.. -41.2 -41.9 -0.6 -0.6 10.1 11.3 0.2 0.2
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.gov>
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 December will be released on
January 31, 2003, at 8:30 A.M. EST.
Release dates in 2003
December 2002..... January 31 April 2003...... May 30 August 2003....... September 29
January 2003......... March 3 May 2003....... June 27 September 2003... October 31
February 2003....... March 28 June 2003....... August 1 October 2003...... November 26
March 2003........... April 28 July 2003....... August 29 November 2003... December 23
Table 1.--Personal Income and Its Disposition (Months)
[Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,865.5 8,904.9 8,971.7 8,965.0 8,992.9 9,022.2 9,048.7 9,078.3
Wage and salary disbursements..... 4,968.8 4,989.0 5,034.0 5,016.7 5,045.7 5,068.5 5,082.1 5,101.9
Private industries.............. 4,123.0 4,140.7 4,183.1 4,163.1 4,188.0 4,208.6 4,218.1 4,235.8
Goods-producing industries.... 1,116.4 1,119.3 1,128.2 1,121.8 1,128.1 1,128.2 1,128.4 1,128.8
Manufacturing............... 760.5 764.3 771.2 765.6 768.4 766.9 767.5 766.9
Distributive industries....... 1,107.9 1,113.2 1,124.7 1,115.6 1,120.1 1,125.2 1,126.5 1,130.0
Service industries............ 1,898.7 1,908.2 1,930.2 1,925.7 1,939.7 1,955.1 1,963.2 1,977.1
Government...................... 845.8 848.3 851.0 853.6 857.7 860.0 864.0 866.0
Other labor income................ 599.8 603.9 608.5 613.0 617.5 622.1 626.6 631.0
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 751.4 746.0 745.1 755.0 757.4 763.8 771.1 771.5
Farm............................ 14.0 5.1 3.3 7.7 10.7 13.8 13.1 9.4
Nonfarm......................... 737.4 740.9 741.7 747.4 746.7 750.0 757.9 762.0
Rental income of persons with
capital consumption adjustment... 148.3 153.5 158.7 152.4 144.1 135.9 137.1 138.4
Personal dividend income.......... 428.0 430.3 432.7 435.0 437.3 439.4 441.6 443.8
Personal interest income.......... 1,075.7 1,082.3 1,088.9 1,084.8 1,080.7 1,076.7 1,075.4 1,074.2
Transfer payments to persons...... 1,275.0 1,282.9 1,289.9 1,293.2 1,297.3 1,304.6 1,304.6 1,308.9
Old-age, survivors, disability,
and health insurance benefits.. 695.1 696.3 697.4 699.2 701.9 704.6 703.2 705.7
Government unemployment
insurance benefits............. 63.5 67.7 70.8 68.1 66.9 67.8 66.0 64.6
Other........................... 516.4 518.9 521.7 525.9 528.5 532.3 535.4 538.5
Less: Personal contributions for
social insurance................. 381.6 383.0 386.1 385.2 387.2 388.8 389.8 391.3
Less: Personal tax and nontax
payments........................... 1,123.9 1,119.6 1,122.0 1,108.8 1,107.1 1,106.2 1,104.2 1,105.3
Equals: Disposable personal income.. 7,741.6 7,785.3 7,849.7 7,856.2 7,885.8 7,916.0 7,944.5 7,973.0
Less: Personal outlays.............. 7,464.1 7,467.9 7,501.8 7,579.9 7,601.6 7,567.5 7,594.7 7,633.2
Personal consumption expenditures. 7,242.7 7,244.6 7,276.7 7,355.7 7,379.3 7,347.2 7,374.5 7,413.0
Durable goods................... 868.2 845.2 857.4 901.6 919.0 872.8 860.2 873.5
Nondurable goods................ 2,110.9 2,101.9 2,111.7 2,117.8 2,117.3 2,115.6 2,133.2 2,141.7
Services........................ 4,263.5 4,297.4 4,307.6 4,336.3 4,343.0 4,358.8 4,381.1 4,397.9
Interest paid by persons.......... 189.4 191.3 193.2 191.3 189.3 187.4 187.3 187.3
Personal transfer payments to the
rest of the world (net).......... 31.9 31.9 31.9 32.9 32.9 32.9 32.9 32.9
Equals: Personal saving............. 277.5 317.5 347.9 276.3 284.2 348.4 349.8 339.8
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,983.2 7,024.4 7,073.9 7,070.1 7,080.7 7,093.7 7,105.1 7,126.6
Per capita:
Current dollars............... 26,987 27,120 27,324 27,324 27,403 27,484 27,560 27,638
Chained (1996) dollars........ 24,343 24,470 24,623 24,590 24,606 24,629 24,648 24,704
Population (thousands)\2\....... 286,865 287,067 287,284 287,519 287,768 288,024 288,263 288,480
Personal saving as a percentage
of disposable personal income.... 3.6 4.1 4.4 3.5 3.6 4.4 4.4 4.3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
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.
Table 2.--Personal Income and Its Disposition (Years and Quarters)
[Billions of dollars; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 II 01 III 01 IV 01 I 02 II 02/r/ III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8,406.6 8,685.3 8,676.2 8,706.2 8,700.9 8,803.4 8,914.0 8,993.3
Wage and salary disbursements..... 4,836.3 4,950.6 4,956.8 4,953.7 4,931.4 4,957.8 4,997.3 5,043.6
Private industries.............. 4,067.4 4,139.8 4,151.0 4,136.6 4,106.2 4,117.4 4,148.9 4,186.5
Goods-producing industries.... 1,163.7 1,142.4 1,150.0 1,140.0 1,123.3 1,116.9 1,121.3 1,126.0
Manufacturing............... 829.4 789.4 797.1 783.4 769.9 759.4 765.3 767.0
Distributive industries....... 1,094.8 1,109.2 1,112.3 1,110.8 1,098.6 1,110.1 1,115.3 1,120.3
Service industries............ 1,808.9 1,888.2 1,888.8 1,885.8 1,884.3 1,890.4 1,912.4 1,940.2
Government...................... 768.9 810.8 805.8 817.1 825.2 840.4 848.4 857.1
Other labor income................ 544.2 570.4 568.2 572.4 576.3 590.8 604.1 617.5
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 714.8 727.9 726.6 732.4 731.3 748.4 747.5 758.7
Farm............................ 22.6 19.0 18.4 19.3 19.2 21.7 7.5 10.7
Nonfarm......................... 692.2 708.8 708.2 713.1 712.1 726.7 740.0 748.0
Rental income of persons with
capital consumption adjustment... 146.6 137.9 134.3 140.8 139.3 141.3 153.5 144.1
Personal dividend income.......... 375.7 409.2 406.0 411.0 417.3 423.7 430.3 437.3
Personal interest income.......... 1,077.0 1,091.3 1,097.2 1,086.4 1,072.9 1,069.9 1,082.3 1,080.7
Transfer payments to persons...... 1,070.3 1,170.4 1,159.1 1,182.5 1,205.0 1,252.0 1,282.6 1,298.4
Old-age, survivors, disability,
and health insurance benefits.. 617.2 664.3 660.2 670.1 674.0 690.2 696.3 701.9
Government unemployment
insurance benefits............. 20.5 31.9 29.2 33.1 41.0 52.3 67.3 67.6
Other........................... 432.5 474.2 469.7 479.3 490.0 509.5 519.0 528.9
Less: Personal contributions for
social insurance................. 358.4 372.3 372.2 373.1 372.7 380.5 383.6 387.0
Less: Personal tax and nontax
payments........................... 1,286.4 1,292.1 1,336.1 1,181.9 1,309.7 1,136.8 1,121.8 1,107.3
Equals: Disposable personal income.. 7,120.2 7,393.2 7,340.0 7,524.2 7,391.2 7,666.7 7,792.2 7,886.0
Less: Personal outlays.............. 6,918.6 7,223.5 7,198.5 7,222.0 7,329.6 7,396.3 7,477.9 7,583.0
Personal consumption expenditures. 6,683.7 6,987.0 6,959.8 6,983.7 7,099.9 7,174.2 7,254.7 7,360.7
Durable goods................... 803.9 835.9 820.3 824.0 882.6 859.0 856.9 897.8
Nondurable goods................ 1,972.9 2,041.3 2,044.8 2,044.3 2,044.4 2,085.1 2,108.2 2,116.9
Services........................ 3,906.9 4,109.9 4,094.7 4,115.4 4,172.9 4,230.1 4,289.5 4,346.0
Interest paid by persons.......... 205.4 205.4 207.7 206.5 199.1 190.6 191.3 189.3
Personal transfer payments to the
rest of the world (net).......... 29.5 31.1 30.9 31.8 30.6 31.5 31.9 32.9
Equals: Personal saving............. 201.5 169.7 141.6 302.2 61.5 270.4 314.3 303.0
Addenda:
Disposable personal income:
Total, billions of chained
(1996) dollars\1\.............. 6,630.3 6,748.0 6,694.8 6,864.0 6,729.1 6,961.0 7,027.2 7,081.6
Per capita:
Current dollars............... 25,237 25,957 25,805 26,387 25,853 26,759 27,144 27,404
Chained (1996) dollars........ 23,501 23,692 23,537 24,071 23,537 24,296 24,479 24,609
Population (thousands)\2\....... 282,128 284,822 284,442 285,154 285,898 286,507 287,072 287,770
Personal saving as a percentage
of disposable personal income.... 2.8 2.3 1.9 4.0 .8 3.5 4.0 3.8
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
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]
----------------------------------------------------------------------------------------------------------------------------
Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 29.2 39.4 66.8 -6.7 27.9 29.3 26.5 29.6
Wage and salary disbursements..... -6.6 20.2 45.0 -17.3 29.0 22.8 13.6 19.8
Private industries.............. -8.4 17.7 42.4 -20.0 24.9 20.6 9.5 17.7
Goods-producing industries.... -3.0 2.9 8.9 -6.4 6.3 .1 .2 .4
Manufacturing............... .3 3.8 6.9 -5.6 2.8 -1.5 .6 -.6
Distributive industries....... -9.2 5.3 11.5 -9.1 4.5 5.1 1.3 3.5
Service industries............ 3.9 9.5 22.0 -4.5 14.0 15.4 8.1 13.9
Government...................... 1.7 2.5 2.7 2.6 4.1 2.3 4.0 2.0
Other labor income................ 4.3 4.1 4.6 4.5 4.5 4.6 4.5 4.4
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... -.5 -5.4 -.9 9.9 2.4 6.4 7.3 .4
Farm............................ -8.5 -8.9 -1.8 4.4 3.0 3.1 -.7 -3.7
Nonfarm......................... 8.0 3.5 .8 5.7 -.7 3.3 7.9 4.1
Rental income of persons with
capital consumption adjustment... 5.1 5.2 5.2 -6.3 -8.3 -8.2 1.2 1.3
Personal dividend income.......... 2.5 2.3 2.4 2.3 2.3 2.1 2.2 2.2
Personal interest income.......... 6.7 6.6 6.6 -4.1 -4.1 -4.0 -1.3 -1.2
Transfer payments to persons...... 17.4 7.9 7.0 3.3 4.1 7.3 .0 4.3
Old-age, survivors, disability,
and health insurance benefits.. 6.5 1.2 1.1 1.8 2.7 2.7 -1.4 2.5
Government unemployment
insurance benefits............. 7.3 4.2 3.1 -2.7 -1.2 .9 -1.8 -1.4
Other............................ 3.6 2.5 2.8 4.2 2.6 3.8 3.1 3.1
Less: Personal contributions for
social insurance................. -.2 1.4 3.1 -.9 2.0 1.6 1.0 1.5
Less: Personal tax and nontax
payments........................... -10.1 -4.3 2.4 -13.2 -1.7 -.9 -2.0 1.1
Equals: Disposable personal income.. 39.4 43.7 64.4 6.5 29.6 30.2 28.5 28.5
Less: Personal outlays.............. 39.8 3.8 33.9 78.1 21.7 -34.1 27.2 38.5
Personal consumption expenditures. 37.4 1.9 32.1 79.0 23.6 -32.1 27.3 38.5
Durable goods................... 8.4 -23.0 12.2 44.2 17.4 -46.2 -12.6 13.3
Nondurable goods................ 18.8 -9.0 9.8 6.1 -.5 -1.7 17.6 8.5
Services........................ 10.1 33.9 10.2 28.7 6.7 15.8 22.3 16.8
Interest paid by persons.......... 1.8 1.9 1.9 -1.9 -2.0 -1.9 -.1 .0
Personal transfer payments to the
rest of the world (net).......... .4 .0 .0 1.0 .0 .0 .0 .0
Equals: Personal saving............. -.4 40.0 30.4 -71.6 7.9 64.2 1.4 -10.0
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 4.9 41.2 49.5 -3.8 10.6 13.0 11.4 21.5
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
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 II 01 III 01 IV 01 I 02 II 02/r/ III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 620.1 278.7 18.1 30.0 -5.3 102.5 110.6 79.3
Wage and salary disbursements..... 365.9 114.3 -3.6 -3.1 -22.3 26.4 39.5 46.3
Private industries.............. 321.1 72.4 -14.2 -14.4 -30.4 11.2 31.5 37.6
Goods-producing industries.... 75.1 -21.3 -6.3 -10.0 -16.7 -6.4 4.4 4.7
Manufacturing............... 47.4 -40.0 -10.1 -13.7 -13.5 -10.5 5.9 1.7
Distributive industries....... 74.0 14.4 -2.7 -1.5 -12.2 11.5 5.2 5.0
Service industries............ 172.0 79.3 -5.1 -3.0 -1.5 6.1 22.0 27.8
Government...................... 44.7 41.9 10.6 11.3 8.1 15.2 8.0 8.7
Other labor income................ 34.0 26.2 3.5 4.2 3.9 14.5 13.3 13.4
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 36.4 13.1 5.4 5.8 -1.1 17.1 -.9 11.2
Farm............................ -5.1 -3.6 -.9 .9 -.1 2.5 -14.2 3.2
Nonfarm......................... 41.5 16.6 6.3 4.9 -1.0 14.6 13.3 8.0
Rental income of persons with
capital consumption adjustment... -2.5 -8.7 -2.7 6.5 -1.5 2.0 12.2 -9.4
Personal dividend income.......... 47.7 33.5 3.5 5.0 6.3 6.4 6.6 7.0
Personal interest income.......... 107.8 14.3 -11.2 -10.8 -13.5 -3.0 12.4 -1.6
Transfer payments to persons...... 51.8 100.1 24.1 23.4 22.5 47.0 30.6 15.8
Old-age, survivors, disability,
and health insurance benefits.. 29.2 47.1 7.3 9.9 3.9 16.2 6.1 5.6
Government unemployment
insurance benefits............. .2 11.4 5.0 3.9 7.9 11.3 15.0 .3
Other............................ 22.3 41.7 11.8 9.6 10.7 19.5 9.5 9.9
Less: Personal contributions for
social insurance................. 21.0 13.9 1.1 .9 -.4 7.8 3.1 3.4
Less: Personal tax and nontax
payments........................... 127.3 5.7 -4.5 -154.2 127.8 -172.9 -15.0 -14.5
Equals: Disposable personal income.. 492.8 273.0 22.5 184.2 -133.0 275.5 125.5 93.8
Less: Personal outlays.............. 465.3 304.9 54.6 23.5 107.6 66.7 81.6 105.1
Personal consumption expenditures. 437.2 303.3 55.1 23.9 116.2 74.3 80.5 106.0
Durable goods................... 48.0 32.0 3.5 3.7 58.6 -23.6 -2.1 40.9
Nondurable goods................ 142.8 68.4 13.3 -.5 .1 40.7 23.1 8.7
Services........................ 246.4 203.0 38.3 20.7 57.5 57.2 59.4 56.5
Interest paid by persons.......... 25.9 .0 -.6 -1.2 -7.4 -8.5 .7 -2.0
Personal transfer payments to the
rest of the world (net).......... 2.2 1.6 .0 .9 -1.2 .9 .4 1.0
Equals: Personal saving............. 27.5 -31.8 -32.1 160.6 -240.7 208.9 43.9 -11.3
Addendum:
Disposable personal income:
Chained (1996) dollars\1\........ 301.9 117.7 -9.5 169.2 -134.9 231.9 66.2 54.4
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
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]
----------------------------------------------------------------------------------------------------------------------------
Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... .3 .4 .7 -.1 .3 .3 .3 .3
Wage and salary disbursements..... -.1 .4 .9 -.3 .6 .5 .3 .4
Other labor income................ .7 .7 .8 .7 .7 .7 .7 .7
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... -.1 -.7 -.1 1.3 .3 .8 1.0 .1
Rental income of persons with
capital consumption adjustment... 3.6 3.5 3.4 -4.0 -5.4 -5.7 .9 .9
Personal dividend income.......... .6 .5 .5 .5 .5 .5 .5 .5
Personal interest income.......... .6 .6 .6 -.4 -.4 -.4 -.1 -.1
Transfer payments to persons...... 1.4 .6 .5 .3 .3 .6 .0 .3
Less: Personal contributions for
social insurance................. -.1 .4 .8 -.2 .5 .4 .3 .4
Less: Personal tax and nontax
payments........................... -.9 -.4 .2 -1.2 -.1 -.1 -.2 .1
Equals: Disposable personal income.. .5 .6 .8 .1 .4 .4 .4 .4
Addenda:
Personal consumption expenditures. .5 .0 .4 1.1 .3 -.4 .4 .5
Durable goods................... 1.0 -2.7 1.4 5.2 1.9 -5.0 -1.4 1.5
Nondurable goods................ .9 -.4 .5 .3 .0 -.1 .8 .4
Services........................ .2 .8 .2 .7 .2 .4 .5 .4
Disposable personal income, based
on chained (1996) dollars........ .1 .6 .7 -.1 .2 .2 .2 .3
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
Table 6.--Personal Income and Its Disposition, Percent Change from Preceding Period (Years and Quarters)
[Percent; quarters seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
2000 2001 II 01 III 01 IV 01 I 02 II 02/r/ III 02/r/
----------------------------------------------------------------------------------------------------------------------------
Personal income..................... 8.0 3.3 .8 1.4 -.2 4.8 5.1 3.6
Wage and salary disbursements..... 8.2 2.4 -.3 -.3 -1.8 2.2 3.2 3.8
Other labor income................ 6.7 4.8 2.5 3.0 2.8 10.4 9.3 9.2
Proprietors' income with
inventory valuation and capital
consumption adjustments.......... 5.4 1.8 3.0 3.3 -.6 9.7 -.5 6.2
Rental income of persons with
capital consumption adjustment... -1.7 -6.0 -7.8 20.9 -4.3 5.9 39.3 -22.3
Personal dividend income.......... 14.5 8.9 3.6 5.0 6.3 6.3 6.4 6.6
Personal interest income.......... 11.1 1.3 -4.0 -3.9 -4.9 -1.1 4.7 -.6
Transfer payments to persons...... 5.1 9.4 8.8 8.3 7.8 16.5 10.1 5.0
Less: Personal contributions for
social insurance................. 6.2 3.9 1.1 1.0 -.4 8.6 3.3 3.7
Less: Personal tax and nontax
payments........................... 11.0 .4 -1.3 -38.8 50.8 -43.3 -5.1 -5.1
Equals: Disposable personal income.. 7.4 3.8 1.2 10.4 -6.9 15.8 6.7 4.9
Addenda:
Personal consumption expenditures. 7.0 4.5 3.2 1.4 6.8 4.3 4.6 6.0
Durable goods................... 6.4 4.0 1.7 1.8 31.6 -10.3 -.9 20.5
Nondurable goods................ 7.8 3.5 2.6 -.1 .0 8.2 4.5 1.7
Services........................ 6.7 5.2 3.8 2.0 5.7 5.6 5.7 5.4
Disposable personal income, based
on chained (1996) dollars........ 4.8 1.8 -.6 10.5 -7.6 14.5 3.9 3.1
----------------------------------------------------------------------------------------------------------------------------
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
[Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,533.2 6,536.6 6,557.5 6,619.7 6,625.9 6,584.0 6,595.3 6,626.1
Durable goods..................... 992.5 966.3 983.2 1,036.4 1,057.3 1,003.5 990.7 1,009.8
Nondurable goods.................. 1,915.9 1,919.7 1,926.9 1,931.0 1,926.2 1,920.2 1,931.8 1,940.0
Services.......................... 3,653.2 3,672.4 3,672.9 3,688.5 3,683.4 3,689.0 3,698.3 3,705.7
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 5.1 3.4 20.9 62.2 6.2 -41.9 11.3 30.8
Durable goods..................... 11.3 -26.2 16.9 53.2 20.9 -53.8 -12.8 19.1
Nondurable goods.................. -1.6 3.8 7.2 4.1 -4.8 -6.0 11.6 8.2
Services.......................... -2.0 19.2 .5 15.6 -5.1 5.6 9.3 7.4
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .1 .1 .3 .9 .1 -.6 .2 .5
Durable goods..................... 1.1 -2.6 1.7 5.4 2.0 -5.1 -1.3 1.9
Nondurable goods.................. -.1 .2 .4 .2 -.2 -.3 .6 .4
Services.......................... -.1 .5 .0 .4 -.1 .2 .3 .2
----------------------------------------------------------------------------------------------------------------------------
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 II 01 III 01 IV 01 I 02 II 02 III 02/r/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 6,223.9 6,377.2 6,348.0 6,370.9 6,464.0 6,513.8 6,542.4 6,609.9
Durable goods..................... 878.9 931.9 912.4 922.6 992.0 975.9 980.7 1,032.4
Nondurable goods.................. 1,833.8 1,869.8 1,862.3 1,868.3 1,885.0 1,921.4 1,920.9 1,925.8
Services.......................... 3,524.5 3,594.9 3,589.3 3,597.5 3,616.6 3,642.2 3,666.2 3,687.0
----------------------------------------------------------------------------------------
Change from preceding period in
billions of chained (1996) dollars
----------------------------------------------------------------------------------------
Personal consumption expenditures... 259.4 153.3 22.0 22.9 93.1 49.8 28.6 67.5
Durable goods..................... 66.4 53.0 11.8 10.2 69.4 -16.1 4.8 51.7
Nondurable goods.................. 68.7 36.0 -1.4 6.0 16.7 36.4 -.5 4.9
Services.......................... 129.1 70.4 13.0 8.2 19.1 25.6 24.0 20.8
----------------------------------------------------------------------------------------
Percent change from preceding period in
chained (1996) dollars at annual rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... 4.4 2.5 1.4 1.5 6.0 3.1 1.8 4.2
Durable goods..................... 8.2 6.0 5.3 4.6 33.6 -6.3 2.0 22.8
Nondurable goods.................. 3.9 2.0 -.3 1.3 3.6 7.9 -.1 1.0
Services.......................... 3.8 2.0 1.5 .9 2.1 2.9 2.7 2.3
----------------------------------------------------------------------------------------------------------------------------
r Revised.
Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Chain-type price indexes (1996=100),
seasonally adjusted
----------------------------------------------------------------------------------------
Personal consumption expenditures... 110.86 110.83 110.97 111.12 111.37 111.59 111.82 111.88
Durable goods..................... 87.46 87.45 87.18 86.97 86.89 86.95 86.81 86.48
Nondurable goods.................. 110.18 109.49 109.59 109.67 109.92 110.17 110.42 110.39
Services.......................... 116.71 117.02 117.28 117.57 117.91 118.16 118.47 118.68
Addendum:
Personal consumption expenditures
less food and energy............. 110.33 110.40 110.54 110.66 110.94 111.12 111.24 111.30
----------------------------------------------------------------------------------------
Percent change from preceding period
in price indexes at monthly rates
----------------------------------------------------------------------------------------
Personal consumption expenditures... .4 .0 .1 .1 .2 .2 .2 .1
Durable goods..................... -.2 .0 -.3 -.2 -.1 .1 -.2 -.4
Nondurable goods.................. 1.0 -.6 .1 .1 .2 .2 .2 .0
Services.......................... .3 .3 .2 .2 .3 .2 .3 .2
Addendum:
Personal consumption expenditures
less food and energy............. .3 .1 .1 .1 .2 .2 .1 .1
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
Apr 02/r/ May 02/r/ Jun 02/r/ Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income.......... 4.1 5.1 5.8 4.0 2.4 3.1 5.9 6.1
Personal consumption expenditures... 3.1 2.9 3.1 3.9 3.7 3.7 1.9 2.7
Durable goods..................... 10.0 6.3 6.3 11.9 13.4 10.4 -3.5 2.3
Nondurable goods.................. 3.0 2.9 3.6 3.1 2.7 3.4 3.1 3.3
Services.......................... 1.9 2.3 2.3 2.6 2.2 2.6 2.5 2.5
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised. Revisions include changes to series affected by the introduction
of revised wage and salary estimates for the second quarter of 2002.
Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
Apr 02 May 02 Jun 02 Jul 02/r/ Aug 02/r/ Sep 02/r/ Oct 02/r/ Nov 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures... 1.3 1.0 1.1 1.2 1.4 2.1 1.7 1.8
Durable goods..................... -3.0 -2.6 -2.8 -3.0 -2.6 -2.3 -2.4 -2.8
Nondurable goods.................. .6 -.4 -.4 .4 .9 .1 1.1 1.8
Services.......................... 2.5 2.5 2.6 2.5 2.6 4.0 2.9 2.8
Addendum:
Personal consumption expenditures
less food and energy............. 1.7 1.7 1.7 1.5 1.7 2.7 1.7 1.5
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.
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