News Release
These data have been superseded. Please see our latest releases for current estimates and contact information.
Personal Income and Outlays, December 2013
Personal income increased $2.3 billion, or less than 0.1 percent, and disposable personal income (DPI) decreased $3.8 billion, or less than 0.1 percent, in December according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $44.1 billion, or 0.4 percent. In November, personal income increased $29.8 billion, or 0.2 percent, DPI increased $14.4 billion, or 0.1 percent, and PCE increased $74.8 billion, or 0.6 percent, based on revised estimates. Real disposable personal income decreased 0.2 percent in December, in contrast to an increase of 0.1 percent in November. Real PCE increased 0.2 percent in December, compared with an increase of 0.6 percent in November. 2013 Aug. Sep. Oct. Nov. Dec. (Percent change from preceding month) Personal income, current dollars 0.5 0.4 -0.1 0.2 0.0 Disposable personal income: Current dollars 0.6 0.5 -0.2 0.1 0.0 Chained (2009) dollars 0.5 0.4 -0.2 0.1 -0.2 Personal consumption expenditures: Current dollars 0.3 0.3 0.1 0.6 0.4 Chained (2009) dollars 0.2 0.2 0.1 0.6 0.2 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. _________________ Wages and salaries Private wages and salaries increased $0.7 billion in December, compared with an increase of $35.0 billion in November. Goods producing industries' payrolls increased $4.2 billion, compared with an increase of $10.6 billion; manufacturing payrolls increased $2.7 billion, compared with an increase of $6.8 billion. Services-producing industries' payrolls decreased $3.6 billion, in contrast to an increase of $24.4 billion. Government wages and salaries increased $0.9 billion, compared with an increase of $1.4 billion. Other personal income Supplements to wages and salaries increased $1.7 billion in December, compared with an increase of $4.3 billion in November. Proprietors' income decreased $8.3 billion in December, the same decrease as in November. Farm proprietors' income decreased $14.3 billion in December, the same decrease as in November. Nonfarm proprietors' income increased $6.0 billion, the same increase as in November. Rental income of persons increased $2.1 billion in December, compared with an increase of $0.8 billion in November. Personal income receipts on assets (personal interest income plus personal dividend income) increased $3.1 billion, compared with an increase of $1.3 billion. Personal current transfer receipts increased $2.9 billion, compared with an increase of $0.1 billion. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $0.7 billion in December, compared with an increase of $4.7 billion in November. Personal current taxes and disposable personal income Personal current taxes increased $6.0 billion in December, compared with an increase of $15.5 billion in November. Disposable personal income (DPI) -- personal income less personal current taxes -- decreased $3.8 billion, or less than 0.1 percent, in December, in contrast to an increase of $14.4 billion, or 0.1 percent, in November. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $42.0 billion in December, compared with an increase of $72.7 billion in November. PCE increased $44.1 billion, compared with an increase of $74.8 billion. Personal saving -- DPI less personal outlays -- was $495.2 billion in December, compared with $541.0 billion in November. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.9 percent in December, compared with 4.3 percent in November. 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 -- decreased 0.2 percent in December, in contrast to an increase of 0.1 percent in November. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in December, compared with an increase of 0.6 percent in November. Purchases of durable goods decreased 1.4 percent in December, in contrast to an increase of 2.1 percent in November. Purchases of motor vehicles and parts accounted for most of the decrease in December and accounted for most of the increase in November. Purchases of nondurable goods increased 1.0 percent in December, compared with an increase of 0.6 percent in November. Purchases of services increased 0.2 percent, compared with an increase of 0.4 percent. PCE price index -- The price index for PCE increased 0.2 percent in December, compared with an increase of less than 0.1 percent in November. The PCE price index, excluding food and energy, increased 0.1 percent in December, the same increase as in November. 2013 Personal Income and Outlays Personal income increased 2.8 percent in 2013 (that is, from the 2012 annual level to the 2013 annual level), compared with an increase of 4.2 percent in 2012. DPI increased 1.9 percent, compared with an increase of 3.9 percent. PCE increased 3.1 percent, compared with an increase of 4.1 percent. Real DPI increased 0.7 percent in 2013, compared with an increase of 2.0 percent in 2012. Real PCE increased 2.0 percent, compared with an increase of 2.2 percent. Revisions Estimates have been revised for October and November. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar and in chained (2009) dollar PCE for October and November -- revised and as published in last month's release -- are shown below. Change from preceding month October November Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (percent) (Billions of dollars) (percent) Personal income: Current dollars -11.7 -16.9 -0.1 -0.1 30.1 29.8 0.2 0.2 Disposable personal income: Current dollars -25.6 -28.7 -0.2 -0.2 16.2 14.4 0.1 0.1 Chained (2009) dollars -20.9 -25.2 -0.2 -0.2 12.5 11.5 0.1 0.1 Personal consumption expenditures: Current dollars 44.2 12.7 0.4 0.1 63.0 74.8 0.5 0.6 Chained (2009) dollars 43.8 13.2 0.4 0.1 56.2 67.8 0.5 0.6 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. * * * Next release -- March 3, 2014 at 8:30 A.M. EST for Personal Income and Outlays for January