News Release
These data have been superseded. Please see our latest releases for current estimates and contact information.
Personal Income and Outlays, August 2014
Personal income increased $47.3 billion, or 0.3 percent, and disposable personal income (DPI) increased $35.2 billion,
or 0.3 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE)
increased $57.5 billion, or 0.5 percent. In July, personal income increased $35.9 billion, or 0.2 percent, DPI
increased $24.6 billion, or 0.2 percent, and PCE increased $0.5 billion, or less than 0.1 percent, based on revised estimates.
Real DPI increased 0.3 percent in August, compared with an increase of 0.1 percent in July. Real PCE increased 0.5 percent,
in contrast to a decrease of 0.1 percent.
2014
Apr. May June July Aug.
(Percent change from preceding month)
Personal income, current dollars 0.4 0.5 0.5 0.2 0.3
Disposable personal income:
Current dollars 0.5 0.5 0.5 0.2 0.3
Chained (2009) dollars 0.3 0.3 0.3 0.1 0.3
Personal consumption expenditures:
Current dollars 0.2 0.3 0.5 0.0 0.5
Chained (2009) dollars -0.1 0.1 0.3 -0.1 0.5
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 (2009) dollars.
This news release is available on BEA's Web site at www.bea.gov/newsreleases/rels.htm.
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Wages and salaries
Private wages and salaries increased $30.4 billion in August, compared with an increase of $17.4 billion in July.
Goods-producing industries' payrolls increased $6.0 billion, compared with an increase of $1.2 billion; manufacturing
payrolls increased $3.6 billion, in contrast to a decrease of $0.8 billion. Services-producing industries' payrolls
increased $24.6 billion, compared with an increase of $16.2 billion. Government wages and salaries increased $1.4 billion,
compared with an increase of $1.1 billion.
Other personal income
Supplements to wages and salaries increased $4.7 billion in August, compared with an increase of $3.8 billion in July.
Proprietors' income decreased $8.5 billion in August, in contrast to an increase of $0.5 billion in July. Farm proprietors'
income decreased $9.7 billion, compared with a decrease of $9.8 billion. Nonfarm proprietors' income increased $1.4 billion,
compared with an increase of $10.1 billion.
Rental income of persons increased $6.3 billion in August, compared with an increase of $5.1 billion in July. Personal
income receipts on assets (personal interest income plus personal dividend income) decreased $0.2 billion, in contrast to an
increase of $0.9 billion. Personal current transfer receipts increased $17.2 billion in August, compared with an increase
of $9.8 billion in July.
Contributions for government social insurance -- a subtraction in calculating personal income -- increased $4.3 billion in
August, compared with an increase of $2.5 billion in July.
Personal current taxes and disposable personal income
Personal current taxes increased $12.1 billion in August, compared with an increase of $11.4 billion in July. Disposable
personal income (DPI) -- personal income less personal current taxes -- increased $35.2 billion, or 0.3 percent, in August,
compared with an increase of $24.6 billion, or 0.2 percent, in July.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $60.4 billion in August,
compared with an increase of $3.5 billion in July. PCE increased $57.5 billion, compared with an increase of $0.5 billion.
Personal saving -- DPI less personal outlays -- was $705.3 billion in August, compared with $730.5 billion in July. The personal
saving rate -- personal saving as a percentage of disposable personal income -- was 5.4 percent in August, compared with
5.6 percent in July. For a comparison of personal saving in BEA's national income and product accounts with personal saving
in the Federal Reserve Board's financial accounts of the United States and data on changes in net worth, go to
www.bea.gov/national/nipaweb/nipa-frb.asp.
Real DPI, real PCE, and price index
Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in August, compared with an increase of 0.1 percent in July.
Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in August, in contrast to a decrease of 0.1 percent in July.
Purchases of durable goods increased 1.9 percent, compared with an increase of 0.1 percent. Purchases of motor vehicles and parts
accounted for about half of the August increase. Purchases of nondurable goods increased 0.3 percent in August, in contrast to
a decrease of 0.1 percent in July. Purchases of services increased 0.4 percent, in contrast to a decrease of 0.1 percent.
The price index for PCE decreased less than 0.1 percent in August, in contrast to an increase of 0.1 percent in July.
The PCE price index, excluding food and energy, increased 0.1 percent, the same increase as in July.
Price index: percent change from month one year ago
The August price index for PCE increased 1.5 percent from August a year ago. The August PCE price index, excluding food and energy,
increased 1.5 percent from August a year ago.
Revisions
Estimates have been revised for April through July. Changes in personal income, in current-dollar and chained (2009) dollar DPI,
and in current-dollar and chained (2009) dollar PCE for June and July -- revised and as published in last month's release -- are shown below.
Change from preceding month
June July
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal income:
Current dollars 67.1 69.9 0.5 0.5 28.6 35.9 0.2 0.2
Disposable personal income:
Current dollars 62.9 66.1 0.5 0.5 17.7 24.6 0.1 0.2
Chained (2009) dollars 31.8 33.9 0.3 0.3 6.3 12.0 0.1 0.1
Personal consumption expenditures:
Current dollars 50.5 58.3 0.4 0.5 -13.6 0.5 -0.1 0.0
Chained (2009) dollars 22.8 29.0 0.2 0.3 -21.6 -9.1 -0.2 -0.1
BEA's national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are
available without charge on BEA's Web site at www.bea.gov. By visiting the site, you can also subscribe to free e-mail
summaries of BEA releases and announcements.
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Next release – October 31, 2014 at 8:30 A.M. EDT for Personal Income and Outlays for September