Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI)
increased $43.0 billion, or 0.4 percent, inSeptember, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $87.9 billion, or 0.8 percent. In August,
personal income increased $17.8 billion, or 0.1 percent, DPI increased $15.1 billion, or 0.1 percent,
and PCE increased $59.9 billion, or 0.5 percent, based on revised estimates.
Real disposable income decreased less than 0.1 percent in September, compared with a decrease
of 0.3 percent in August. Real PCE increased 0.4 percent, compared with an increase of 0.1 percent.
2012
May June July Aug. Sept.
(Percent change from preceding month)
Personal income, current dollars 0.3 0.3 0.2 0.1 0.4
Disposable personal income:
Current dollars 0.3 0.3 0.2 0.1 0.4
Chained (2005) dollars 0.5 0.2 0.1 -0.3 0.0
Personal consumption expenditures:
Current dollars -0.2 0.0 0.4 0.5 0.8
Chained (2005) dollars 0.0 -0.1 0.3 0.1 0.4
FOOTNOTE.___________
Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month
dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from
unrounded data and are not annualized. Real estimates are in chained (2005) dollars.
This news release is available on BEAs Web site at www.bea.gov/newsreleases/rels.htm.
____________
Wages and salaries
Private wage and salary disbursements increased $19.5 billion in September, compared with an increase
of $4.1 billion in August. Goods-producing industries' payrolls increased $2.9 billion, in contrast
to a decrease of $7.2 billion; manufacturing payrolls increased $0.5 billion, in contrast to a decrease
of $6.3 billion. Services-producing industries' payrolls increased $16.6 billion, compared with an
increase of $11.3 billion. Government wage and salary disbursements increased $1.4 billion, compared
with an increase of $2.8 billion.
Other personal income
Supplements to wages and salaries increased $4.7 billion in September, compared with an increase of $3.3 billion in August.
Proprietors' income increased $13.2 billion in September, compared with an increase of $8.6 billion in August.
Farm proprietors' income increased $3.9 billion in September, the same increase as in August. Nonfarm proprietors'
income increased $9.4 billion in September, compared with an increase of $4.8 billion in August.
Rental income of persons increased $5.1 billion in September, compared with an increase of $5.0 billion in August.
Personal income receipts on assets (personal interest income plus personal dividend income) decreased $5.7 billion,
compared with a decrease of $3.9 billion.
Personal current transfer receipts increased $12.7 billion in September, in contrast to a decrease
of $1.6 billion in August. Within current transfer receipts, government social benefits to persons for social
security benefits increased $14.0 billion, in contrast to a decrease of $2.4 billion.
Contributions for government social insurance -- a subtraction in calculating personal income -- increased $2.8
billion in September, compared with an increase of $0.7 billion in August.
Personal current taxes and disposable personal income
Personal current taxes increased $5.2 billion in September, compared with an increase of $2.5 billion in August.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $43.0 billion, or
0.4 percent, in September, compared with an increase of $15.1 billion, or 0.1 percent, in August.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $93.1
billion inSeptember, compared with an increase of $65.0 billion in August. PCE increased $87.9 billion,
compared with an increase of $59.9 billion.
Personal saving -- DPI less personal outlays -- was $395.0 billion in September, compared with $445.1 billion
in August. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.3
percent in September, compared with 3.7 percent in August. For a comparison of personal saving in
BEA's national income and product accounts with personal saving in the Federal Reserve Boards
flow of funds accounts and data on changes in net worth, go to /national/nipaweb/Nipa-Frb.asp.
Real DPI, real PCE and price index
Real DPI -- DPI adjusted to remove price changes -- decreased less than 0.1 percent in September, compared
with a decrease of 0.3 percent in August.
Real PCE -- PCE adjusted to remove price changes -- increased 0.4 percent in September, compared with an
increase of 0.1 percent in August. Purchases of durable goods increased 1.3 percent, compared with an increase
of 1.5 percent. Purchases of nondurable goods increased 0.5 percent, compared with an increase of 0.4 percent.
Purchases of services increased 0.2 percent, in contrast to a decrease of 0.2 percent.
The price index for PCE increased 0.4 percent in September, the same increase as in August. The PCE price index,
excluding food and energy, increased 0.1 percent in September, the same increase as in August.
Revisions
Estimates have been revised for July and August. Changes in personal income, current-dollar and chained (2005) dollar
DPI, and current-dollar and chained (2005) 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 18.5 21.9 0.1 0.2 15.0 17.8 0.1 0.1
Disposable personal income:
Current dollars 15.4 19.0 0.1 0.2 12.5 15.1 0.1 0.1
Chained (2005) dollars 9.7 10.4 0.1 0.1 -33.9 -28.6 -0.3 -0.3
Personal consumption expenditures:
Current dollars 45.4 43.2 0.4 0.4 57.2 59.9 0.5 0.5
Chained (2005) dollars 35.8 31.8 0.4 0.3 7.7 12.8 0.1 0.1
BEA's national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases
are available without charge on BEAs Web site at www.bea.gov. By visiting the site, you can also subscribe to
receive free e-mail summaries of BEA releases and announcements.
* * *
Next release - November 30, 2012 at 8:30 A.M. EST for Personal Income and Outlays for October
Release Dates for 2013
December 2012.. January 31 April 2013..May 31 August 2013.....September 27
January 2013... March 1 May 2013....June 27 September 2013..October 31
February 2013.. March 29 June 2013...August 2 October 2013....November 27
March 2013..... April 29 July 2013...August 30 November 2013...December 23
