News Release

FOR WIRE TRANSMISSION: 8:30 A.M. EST, FRIDAY, NOVEMBER 1, 2002
BEA 02-33

Personal Income, September 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 02-33
Greg Key:                606-5302  (Personal Outlays)
Recorded message:        606-5303


                              PERSONAL INCOME AND OUTLAYS:  SEPTEMBER 2002

 Personal income increased $37.0 billion, or 0.4 percent, and disposable personal income (DPI)
increased $36.8 billion, or 0.5 percent, in September, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) decreased $29.6 billion, or 0.4 percent.  In August, personal
income increased $26.3 billion, or 0.3 percent, DPI increased $26.9 billion, or 0.3 percent, and PCE
increased $30.2 billion, or 0.4 percent, based on revised estimates.

                                                                       2002
                                               May         June         July         Aug.         Sept.
                                                        (Percent change from preceding month)
Personal income, current dollars               0.4          0.7          0.0         0.3           0.4
Disposable personal income:
  Current dollars                              0.5          0.7          0.1         0.3           0.5
  Chained (1996) dollars                       0.5          0.6         -0.1         0.1           0.3
Personal consumption expenditures:
  Current dollars                              0.0          0.4          1.1         0.4          -0.4
  Chained (1996) dollars                       0.1          0.3          0.9         0.2          -0.6



This release includes revised estimates of population, per capita disposable personal income (DPI),
and per capita real DPI.  The revised population estimates reflect newly available estimates from the
Census Bureau for May 1990 through September 2002.  The revised per capita estimates reflect the
revisions to the population estimates.  Estimates for the complete revision period are available on BEA's
Web site at <www.bea.gov/bea/dn/nipaweb/SelectTable.asp?Selected=Y#S2>.


Wages and salaries

 Private wage and salary disbursements increased $27.8 billion in September, compared with an
increase of $23.6 billion in August.  Goods-producing industries' payrolls increased $1.5 billion,
compared with an increase of $5.1 billion; manufacturing payrolls increased $0.3 billion, compared
with an increase of $1.8 billion.  Distributive industries' payrolls increased $8.0 billion, compared
with an increase of $3.2 billion.  Service industries' payrolls increased $18.2 billion, compared with
an increase of $15.4 billion.  Government wage and salary disbursements increased $1.9 billion,
compared with an increase of $3.5 billion.


Other personal income

 Proprietors' income increased $7.1 billion in September, compared with an increase of $2.1
billion in August.  Farm proprietors' income increased $2.8 billion, compared with an increase of
$2.9 billion.  Nonfarm proprietors' income increased $4.3 billion, in contrast to a decrease of $0.8
billion.

 Transfer payments increased $7.5 billion in September, compared with an increase of $3.7
billion in August.  Personal interest income decreased $3.0 billion, the same decrease as in August.
Personal dividend income increased $2.1 billion in September, compared with an increase of $2.3
billion in August.  Rental income of persons decreased $8.5 billion, compared with a decrease of
$8.6 billion.

 Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $2.1 billion in September, compared with an increase of $1.9 billion in August.


Personal taxes and disposable personal income

 Personal tax and nontax payments increased $0.2 billion in September, in contrast to a decrease
of $0.5 billion in August.  Disposable personal income (DPI) -- personal income less personal tax
and nontax payments -- increased $36.8 billion, or 0.5 percent, in September, compared with an
increase of $26.9 billion, or 0.3 percent, in August.


Personal outlays and personal saving

 Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of
the world (net) -- decreased $32.3 billion in September, in contrast to an increase of $27.6 billion in
August.  PCE decreased $29.6 billion, in contrast to an increase of $30.2 billion.

 Personal saving -- DPI less personal outlays -- was $335.8 billion in September, compared with
$266.8 billion in August.  Personal saving as a percentage of disposable personal income was 4.2
percent in September, compared with 3.4 percent in August.


Real DPI and real PCE

 Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in September,
compared with an increase of 0.1 percent in August.

 Real PCE -- PCE adjusted to remove price changes -- decreased 0.6 percent in September, in
contrast to an increase of 0.2 percent in August.  Purchases of durable goods decreased 5.2 percent,
in contrast to an increase of 2.0 percent.  Purchases of motor vehicles and parts accounted for most
of the September decrease and accounted for most of the August increase.  Purchases of nondurable
goods decreased 0.3 percent in September, compared with a decrease of 0.1 percent in August.
Purchases of services increased 0.2 percent, in contrast to a decrease of 0.1 percent.


Revisions

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

                                                         Change from preceding month
                                                  July                                  August
                                   Previous Revised  Previous Revised     Previous Revised  Previous Revised
                                (Billions of dollars)   (Percent)      (Billions of dollars)    (Percent)
Personal Income:
  Current dollars.............        2.6    -3.5      0.0      0.0         33.0    26.3      0.4      0.3

Disposable personal income:
  Current dollars.............       12.8     6.8      0.2      0.1         34.4    26.9      0.4      0.3
  Chained (1996) dollars......        1.8    -5.0      0.0     -0.1         14.5     7.1      0.2      0.1

Personal consumption expenditures:
  Current dollars.............       74.5    77.4      1.0      1.1         23.7    30.2      0.3      0.4
  Chained (1996) dollars......       58.0    59.3      0.9      0.9          6.0    11.2      0.1      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 October will be released on
                          November 27, 2002, at 8:30 A.M. EST.




                                   Table 1.--Personal Income and Its Disposition (Months)
                             [Billions of dollars; months seasonally adjusted at annual rates]
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................    8,807.2    8,836.3    8,869.2    8,906.0    8,966.0    8,962.5    8,988.8    9,025.8
  Wage and salary disbursements.....    4,956.9    4,975.4    4,972.7    4,990.1    5,028.0    5,013.1    5,040.2    5,069.9
    Private industries..............    4,116.0    4,131.4    4,126.9    4,141.8    4,177.1    4,159.6    4,183.2    4,211.0
      Goods-producing industries....    1,116.1    1,119.4    1,116.4    1,117.1    1,123.1    1,117.0    1,122.1    1,123.6
        Manufacturing...............      759.0      760.2      759.1      760.6      764.7      759.3      761.1      761.4
      Distributive industries.......    1,109.6    1,117.1    1,113.2    1,118.1    1,126.6    1,119.2    1,122.4    1,130.4
      Service industries............    1,890.3    1,894.8    1,897.4    1,906.6    1,927.4    1,923.4    1,938.8    1,957.0
    Government......................      840.9      844.1      845.8      848.3      851.0      853.5      857.0      858.9
  Other labor income................      590.7      595.5      599.8      603.9      608.5      612.7      617.2      621.6

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........      750.0      751.9      751.4      746.0      745.1      754.6      756.7      763.8
    Farm............................       21.8       22.5       14.0        5.1        3.3        7.5       10.4       13.2
    Nonfarm.........................      728.2      729.4      737.4      740.9      741.7      747.1      746.3      750.6

  Rental income of persons with
   capital consumption adjustment...      141.3      143.2      148.3      153.5      158.7      153.0      144.4      135.9

  Personal dividend income..........      423.8      425.5      428.0      430.3      432.7      435.0      437.3      439.4

  Personal interest income..........    1,069.9    1,069.0    1,075.7    1,082.3    1,088.9    1,085.8    1,082.8    1,079.8

  Transfer payments to persons......    1,255.0    1,257.6    1,275.0    1,282.9    1,289.9    1,293.2    1,296.9    1,304.4
    Old-age, survivors, disability,
     and health insurance benefits..      693.2      688.6      695.1      696.3      697.4      699.2      701.9      704.6
    Government unemployment
     insurance benefits.............       52.6       56.2       63.5       67.7       70.8       68.2       66.9       67.7
    Other...........................      509.1      512.8      516.4      518.9      521.7      525.8      528.0      532.1

  Less: Personal contributions for
   social insurance.................      380.4      381.8      381.8      383.1      385.7      384.9      386.8      388.9

Less: Personal tax and nontax
 payments...........................    1,136.1    1,134.0    1,127.4    1,125.4    1,128.7    1,118.2    1,117.7    1,117.9

Equals: Disposable personal income..    7,671.1    7,702.2    7,741.7    7,780.6    7,837.4    7,844.2    7,871.1    7,907.9

Less: Personal outlays..............    7,408.9    7,424.3    7,464.1    7,467.9    7,501.8    7,576.7    7,604.3    7,572.0
  Personal consumption expenditures.    7,186.8    7,205.3    7,242.7    7,244.6    7,276.7    7,354.1    7,384.3    7,354.7
    Durable goods...................      863.5      859.8      868.2      845.2      857.4      901.5      918.9      872.0
    Nondurable goods................    2,089.1    2,092.1    2,110.9    2,101.9    2,111.7    2,117.7    2,119.8    2,117.7
    Services........................    4,234.2    4,253.4    4,263.5    4,297.4    4,307.6    4,334.9    4,345.6    4,365.0
  Interest paid by persons..........      190.6      187.6      189.4      191.3      193.2      190.5      187.8      185.2
  Personal transfer payments to the
   rest of the world (net)..........       31.5       31.5       31.9       31.9       31.9       32.2       32.2       32.2

Equals: Personal saving.............      262.2      277.9      277.7      312.7      335.6      267.5      266.8      335.8

Addenda:
  Disposable personal income:
    Total, billions of chained
     (1996) dollars\1\..............    6,965.7    6,978.3    6,983.3    7,020.1    7,062.8    7,057.8    7,064.9    7,083.2
    Per capita:
      Current dollars...............     26,774     26,867     26,987     27,104     27,281     27,283     27,352     27,456
      Chained (1996) dollars........     24,312     24,342     24,344     24,455     24,585     24,547     24,551     24,592
    Population (thousands)\2\.......    286,512    286,681    286,865    287,067    287,284    287,519    287,768    288,024

  Personal saving as a percentage
   of disposable personal income....        3.4        3.6        3.6        4.0        4.3        3.4        3.4        4.2
----------------------------------------------------------------------------------------------------------------------------
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.



                             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     III 02
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................    8,406.6    8,685.3    8,676.2    8,706.2    8,700.9    8,803.4    8,913.7    8,992.4

  Wage and salary disbursements.....    4,836.3    4,950.6    4,956.8    4,953.7    4,931.4    4,957.8    4,997.0    5,041.0
    Private industries..............    4,067.4    4,139.8    4,151.0    4,136.6    4,106.2    4,117.4    4,148.6    4,184.6
      Goods-producing industries....    1,163.7    1,142.4    1,150.0    1,140.0    1,123.3    1,116.9    1,118.9    1,120.9
        Manufacturing...............      829.4      789.4      797.1      783.4      769.9      759.4      761.5      760.6
      Distributive industries.......    1,094.8    1,109.2    1,112.3    1,110.8    1,098.6    1,110.1    1,119.3    1,124.0
      Service industries............    1,808.9    1,888.2    1,888.8    1,885.8    1,884.3    1,890.4    1,910.5    1,939.7
    Government......................      768.9      810.8      805.8      817.1      825.2      840.4      848.4      856.4
  Other labor income................      544.2      570.4      568.2      572.4      576.3      590.8      604.1      617.2

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........      714.8      727.9      726.6      732.4      731.3      748.4      747.5      758.3
    Farm............................       22.6       19.0       18.4       19.3       19.2       21.7        7.5       10.4
    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      144.4

  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    1,082.8

  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    1,298.2
    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      528.7

  Less: Personal contributions for
   social insurance.................      358.4      372.3      372.2      373.1      372.7      380.5      383.5      386.9

Less: Personal tax and nontax
 payments...........................    1,286.4    1,292.1    1,336.1    1,181.9    1,309.7    1,136.8    1,127.2    1,118.0

Equals: Disposable personal income..    7,120.2    7,393.2    7,340.0    7,524.2    7,391.2    7,666.7    7,786.6    7,874.4

Less: Personal outlays..............    6,918.6    7,223.5    7,198.5    7,222.0    7,329.6    7,396.3    7,477.9    7,584.4
  Personal consumption expenditures.    6,683.7    6,987.0    6,959.8    6,983.7    7,099.9    7,174.2    7,254.7    7,364.3
    Durable goods...................      803.9      835.9      820.3      824.0      882.6      859.0      856.9      897.5
    Nondurable goods................    1,972.9    2,041.3    2,044.8    2,044.3    2,044.4    2,085.1    2,108.2    2,118.4
    Services........................    3,906.9    4,109.9    4,094.7    4,115.4    4,172.9    4,230.1    4,289.5    4,348.5
  Interest paid by persons..........      205.4      205.4      207.7      206.5      199.1      190.6      191.3      187.8
  Personal transfer payments to the
   rest of the world (net)..........       29.5       31.1       30.9       31.8       30.6       31.5       31.9       32.2

Equals: Personal saving.............      201.5      169.7      141.6      302.2       61.5      270.4      308.7      290.0

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    7,022.1    7,068.7
    Per capita:
      Current dollars...............     25,237     25,957     25,805     26,387     25,853     26,759     27,124     27,364
      Chained (1996) dollars........     23,501     23,692     23,537     24,071     23,537     24,296     24,461     24,564
    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        3.7
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................       40.4       29.1       32.9       36.8       60.0       -3.5       26.3       37.0

  Wage and salary disbursements.....       15.9       18.5       -2.7       17.4       37.9      -14.9       27.1       29.7
    Private industries..............       11.3       15.4       -4.5       14.9       35.3      -17.5       23.6       27.8
      Goods-producing industries....         .9        3.3       -3.0         .7        6.0       -6.1        5.1        1.5
        Manufacturing...............        -.1        1.2       -1.1        1.5        4.1       -5.4        1.8         .3
      Distributive industries.......        6.0        7.5       -3.9        4.9        8.5       -7.4        3.2        8.0
      Service industries............        4.4        4.5        2.6        9.2       20.8       -4.0       15.4       18.2
    Government......................        4.6        3.2        1.7        2.5        2.7        2.5        3.5        1.9
  Other labor income................        4.6        4.8        4.3        4.1        4.6        4.2        4.5        4.4

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........        6.7        1.9        -.5       -5.4        -.9        9.5        2.1        7.1
    Farm............................        1.0         .7       -8.5       -8.9       -1.8        4.2        2.9        2.8
    Nonfarm.........................        5.8        1.2        8.0        3.5         .8        5.4        -.8        4.3

  Rental income of persons with
   capital consumption adjustment...        1.9        1.9        5.1        5.2        5.2       -5.7       -8.6       -8.5

  Personal dividend income..........        2.0        1.7        2.5        2.3        2.4        2.3        2.3        2.1

  Personal interest income..........       -1.0        -.9        6.7        6.6        6.6       -3.1       -3.0       -3.0

  Transfer payments to persons......       11.5        2.6       17.4        7.9        7.0        3.3        3.7        7.5
    Old-age, survivors, disability,
     and health insurance benefits..        4.5       -4.6        6.5        1.2        1.1        1.8        2.7        2.7
    Government unemployment
     insurance benefits.............        4.5        3.6        7.3        4.2        3.1       -2.6       -1.3         .8
   Other............................        2.4        3.7        3.6        2.5        2.8        4.1        2.2        4.1

  Less: Personal contributions for
   social insurance.................        1.2        1.4         .0        1.3        2.6        -.8        1.9        2.1

Less: Personal tax and nontax
 payments...........................       -4.0       -2.1       -6.6       -2.0        3.3      -10.5        -.5         .2

Equals: Disposable personal income..       44.4       31.1       39.5       38.9       56.8        6.8       26.9       36.8

Less: Personal outlays..............       53.2       15.4       39.8        3.8       33.9       74.9       27.6      -32.3
  Personal consumption expenditures.       56.2       18.5       37.4        1.9       32.1       77.4       30.2      -29.6
    Durable goods...................        9.9       -3.7        8.4      -23.0       12.2       44.1       17.4      -46.9
    Nondurable goods................       15.0        3.0       18.8       -9.0        9.8        6.0        2.1       -2.1
    Services........................       31.4       19.2       10.1       33.9       10.2       27.3       10.7       19.4
  Interest paid by persons..........       -3.1       -3.0        1.8        1.9        1.9       -2.7       -2.7       -2.6
  Personal transfer payments to the
   rest of the world (net)..........         .0         .0         .4         .0         .0         .3         .0         .0

Equals: Personal saving.............       -8.8       15.7        -.2       35.0       22.9      -68.1        -.7       69.0

Addendum:
  Disposable personal income:
   Chained (1996) dollars\1\........       26.9       12.6        5.0       36.8       42.7       -5.0        7.1       18.3
----------------------------------------------------------------------------------------------------------------------------
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      II 01     III 01      IV 01       I 02      II 02     III 02
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................      620.1      278.7       18.1       30.0       -5.3      102.5      110.3       78.7
  Wage and salary disbursements.....      365.9      114.3       -3.6       -3.1      -22.3       26.4       39.2       44.0
    Private industries..............      321.1       72.4      -14.2      -14.4      -30.4       11.2       31.2       36.0
      Goods-producing industries....       75.1      -21.3       -6.3      -10.0      -16.7       -6.4        2.0        2.0
        Manufacturing...............       47.4      -40.0      -10.1      -13.7      -13.5      -10.5        2.1        -.9
      Distributive industries.......       74.0       14.4       -2.7       -1.5      -12.2       11.5        9.2        4.7
      Service industries............      172.0       79.3       -5.1       -3.0       -1.5        6.1       20.1       29.2
    Government......................       44.7       41.9       10.6       11.3        8.1       15.2        8.0        8.0
  Other labor income................       34.0       26.2        3.5        4.2        3.9       14.5       13.3       13.1

  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........       36.4       13.1        5.4        5.8       -1.1       17.1        -.9       10.8
    Farm............................       -5.1       -3.6        -.9         .9        -.1        2.5      -14.2        2.9
    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       -9.1

  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         .5

  Transfer payments to persons......       51.8      100.1       24.1       23.4       22.5       47.0       30.6       15.6
    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        9.7

  Less: Personal contributions for
   social insurance.................       21.0       13.9        1.1         .9        -.4        7.8        3.0        3.4

Less: Personal tax and nontax
 payments...........................      127.3        5.7       -4.5     -154.2      127.8     -172.9       -9.6       -9.2

Equals: Disposable personal income..      492.8      273.0       22.5      184.2     -133.0      275.5      119.9       87.8

Less: Personal outlays..............      465.3      304.9       54.6       23.5      107.6       66.7       81.6      106.5
  Personal consumption expenditures.      437.2      303.3       55.1       23.9      116.2       74.3       80.5      109.6
    Durable goods...................       48.0       32.0        3.5        3.7       58.6      -23.6       -2.1       40.6
    Nondurable goods................      142.8       68.4       13.3        -.5         .1       40.7       23.1       10.2
    Services........................      246.4      203.0       38.3       20.7       57.5       57.2       59.4       59.0
  Interest paid by persons..........       25.9         .0        -.6       -1.2       -7.4       -8.5         .7       -3.5
  Personal transfer payments to the
   rest of the world (net)..........        2.2        1.6         .0         .9       -1.2         .9         .4         .3

Equals: Personal saving.............       27.5      -31.8      -32.1      160.6     -240.7      208.9       38.3      -18.7

Addendum:
  Disposable personal income:
   Chained (1996) dollars\1\........      301.9      117.7       -9.5      169.2     -134.9      231.9       61.1       46.6
----------------------------------------------------------------------------------------------------------------------------
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]
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal income.....................         .5         .3         .4         .4         .7         .0         .3         .4
  Wage and salary disbursements.....         .3         .4        -.1         .3         .8        -.3         .5         .6
  Other labor income................         .8         .8         .7         .7         .8         .7         .7         .7
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........         .9         .3        -.1        -.7        -.1        1.3         .3         .9
  Rental income of persons with
   capital consumption adjustment...        1.3        1.4        3.6        3.5        3.4       -3.6       -5.6       -5.9
  Personal dividend income..........         .5         .4         .6         .5         .5         .5         .5         .5
  Personal interest income..........        -.1        -.1         .6         .6         .6        -.3        -.3        -.3
  Transfer payments to persons......         .9         .2        1.4         .6         .5         .3         .3         .6
  Less: Personal contributions for
   social insurance.................         .3         .4         .0         .3         .7        -.2         .5         .5

Less: Personal tax and nontax
 payments...........................        -.3        -.2        -.6        -.2         .3        -.9         .0         .0

Equals: Disposable personal income..         .6         .4         .5         .5         .7         .1         .3         .5

Addenda:
  Personal consumption expenditures.         .8         .3         .5         .0         .4        1.1         .4        -.4
    Durable goods...................        1.2        -.4        1.0       -2.7        1.4        5.1        1.9       -5.1
    Nondurable goods................         .7         .1         .9        -.4         .5         .3         .1        -.1
    Services........................         .7         .5         .2         .8         .2         .6         .2         .4

  Disposable personal income, based
   on chained (1996) dollars........         .4         .2         .1         .5         .6        -.1         .1         .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      II 01     III 01      IV 01       I 02      II 02     III 02
----------------------------------------------------------------------------------------------------------------------------
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        3.6
  Other labor income................        6.7        4.8        2.5        3.0        2.8       10.4        9.3        9.0
  Proprietors' income with
   inventory valuation and capital
   consumption adjustments..........        5.4        1.8        3.0        3.3        -.6        9.7        -.5        5.9
  Rental income of persons with
   capital consumption adjustment...       -1.7       -6.0       -7.8       20.9       -4.3        5.9       39.3      -21.6
  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         .2
  Transfer payments to persons......        5.1        9.4        8.8        8.3        7.8       16.5       10.1        4.9
  Less: Personal contributions for
   social insurance.................        6.2        3.9        1.1        1.0        -.4        8.6        3.3        3.5

Less: Personal tax and nontax
 payments...........................       11.0         .4       -1.3      -38.8       50.8      -43.3       -3.3       -3.2

Equals: Disposable personal income..        7.4        3.8        1.2       10.4       -6.9       15.8        6.4        4.6

Addenda:
  Personal consumption expenditures.        7.0        4.5        3.2        1.4        6.8        4.3        4.6        6.2
    Durable goods...................        6.4        4.0        1.7        1.8       31.6      -10.3        -.9       20.3
    Nondurable goods................        7.8        3.5        2.6        -.1         .0        8.2        4.5        1.9
    Services........................        6.7        5.2        3.8        2.0        5.7        5.6        5.7        5.6

  Disposable personal income, based
   on chained (1996) dollars........        4.8        1.8        -.6       10.5       -7.6       14.5        3.6        2.7
----------------------------------------------------------------------------------------------------------------------------



                     Table 7.--Real Personal Consumption Expenditures by Major Type of Product (Months)
                                [Months seasonally adjusted at annual rates except as noted]
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                               Billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...    6,526.0    6,528.1    6,533.2    6,536.6    6,557.5    6,616.8    6,628.0    6,587.7
  Durable goods.....................      982.9      981.2      992.5      966.3      983.2    1,036.3    1,057.2    1,002.7
  Nondurable goods..................    1,926.1    1,917.5    1,915.9    1,919.7    1,926.9    1,930.9    1,928.4    1,922.1
  Services..........................    3,644.0    3,655.2    3,653.2    3,672.4    3,672.9    3,685.9    3,683.4    3,691.4
                                    ----------------------------------------------------------------------------------------
                                                                Change from preceding period in
                                                               billions of chained (1996) dollars
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...       38.6        2.1        5.1        3.4       20.9       59.3       11.2      -40.3
  Durable goods.....................       19.3       -1.7       11.3      -26.2       16.9       53.1       20.9      -54.5
  Nondurable goods..................        5.6       -8.6       -1.6        3.8        7.2        4.0       -2.5       -6.3
  Services..........................       16.7       11.2       -2.0       19.2         .5       13.0       -2.5        8.0
                                    ----------------------------------------------------------------------------------------
                                                            Percent change from preceding period in
                                                            chained (1996) dollars at monthly rates
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...         .6         .0         .1         .1         .3         .9         .2        -.6
  Durable goods.....................        2.0        -.2        1.1       -2.6        1.7        5.4        2.0       -5.2
  Nondurable goods..................         .3        -.4        -.1         .2         .4         .2        -.1        -.3
  Services..........................         .5         .3        -.1         .5         .0         .4        -.1         .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
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                               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    6,610.8
  Durable goods.....................      878.9      931.9      912.4      922.6      992.0      975.9      980.7    1,032.0
  Nondurable goods..................    1,833.8    1,869.8    1,862.3    1,868.3    1,885.0    1,921.4    1,920.9    1,927.2
  Services..........................    3,524.5    3,594.9    3,589.3    3,597.5    3,616.6    3,642.2    3,666.2    3,686.9
                                    ----------------------------------------------------------------------------------------
                                                                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       68.4
  Durable goods.....................       66.4       53.0       11.8       10.2       69.4      -16.1        4.8       51.3
  Nondurable goods..................       68.7       36.0       -1.4        6.0       16.7       36.4        -.5        6.3
  Services..........................      129.1       70.4       13.0        8.2       19.1       25.6       24.0       20.7
                                    ----------------------------------------------------------------------------------------
                                                            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       22.7
  Nondurable goods..................        3.9        2.0        -.3        1.3        3.6        7.9        -.1        1.3
  Services..........................        3.8        2.0        1.5         .9        2.1        2.9        2.7        2.3
----------------------------------------------------------------------------------------------------------------------------



   Table 9.--Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
                                    ----------------------------------------------------------------------------------------
                                                              Chain-type price indexes (1996=100),
                                                                      seasonally adjusted
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...     110.13     110.38     110.86     110.83     110.97     111.14     111.41     111.64
  Durable goods.....................      87.83      87.60      87.46      87.45      87.18      86.97      86.89      86.95
  Nondurable goods..................     108.46     109.10     110.18     109.49     109.59     109.67     109.92     110.17
  Services..........................     116.20     116.37     116.71     117.02     117.28     117.61     117.98     118.25
Addendum:
  Personal consumption expenditures
   less food and energy.............     109.97     110.03     110.33     110.40     110.54     110.69     110.99     111.18
                                    ----------------------------------------------------------------------------------------
                                                              Percent change from preceding period
                                                               in price indexes at monthly rates
                                    ----------------------------------------------------------------------------------------
Personal consumption expenditures...         .2         .2         .4         .0         .1         .2         .2         .2
  Durable goods.....................        -.8        -.3        -.2         .0        -.3        -.2        -.1         .1
  Nondurable goods..................         .4         .6        1.0        -.6         .1         .1         .2         .2
  Services..........................         .3         .1         .3         .3         .2         .3         .3         .2
Addendum:
  Personal consumption expenditures
   less food and energy.............         .2         .1         .3         .1         .1         .1         .3         .2
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



              Table 10.--Percent Change From Month One Year Ago in Chained (1996) Dollars for Selected Series
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Disposable personal income..........        4.0        4.0        4.1        5.0        5.6        3.8        2.1        3.0

Personal consumption expenditures...        3.2        3.3        3.1        2.9        3.1        3.8        3.7        3.8
  Durable goods.....................        8.5        8.7       10.0        6.3        6.3       11.9       13.4       10.3
  Nondurable goods..................        3.4        3.5        3.0        2.9        3.6        3.1        2.8        3.5
  Services..........................        2.0        2.1        1.9        2.3        2.3        2.6        2.2        2.7
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.



    Table 11.--Percent Change From Month One Year Ago in Chain-Type Price Indexes for Personal Consumption Expenditures
----------------------------------------------------------------------------------------------------------------------------
                                         Feb 02     Mar 02     Apr 02     May 02     Jun 02   Jul 02/r/  Aug 02/r/  Sep 02/p/
----------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures...         .8        1.0        1.3        1.0        1.1        1.2        1.5        2.2
  Durable goods.....................       -3.1       -3.0       -3.0       -2.6       -2.8       -3.0       -2.6       -2.3
  Nondurable goods..................        -.7         .1         .6        -.4        -.4         .4         .9         .1
  Services..........................        2.4        2.4        2.5        2.5        2.6        2.5        2.6        4.1
Addendum:
  Personal consumption expenditures
   less food and energy.............        1.6        1.5        1.7        1.7        1.7        1.5        1.7        2.7
----------------------------------------------------------------------------------------------------------------------------
p Preliminary.
r Revised.