News Release
These data have been superseded. Please see our latest releases for current estimates and contact information.
Personal Income and Outlays, October 2014
Personal income increased $32.9 billion, or 0.2 percent, and disposable personal income (DPI) increased $23.4 billion, or 0.2 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $27.3 billion, or 0.2 percent. In September, personal income increased $24.6 billion, or 0.2 percent, DPI increased $17.2 billion, or 0.1 percent, and PCE increased $4.1 billion, or less than 0.1 percent, based on revised estimates. Real DPI increased 0.1 percent in October, the same increase as in September. Real PCE increased 0.2 percent in October, in contrast to a decrease of less than 0.1 percent in September. 2014 June July Aug. Sept. Oct. (Percent change from preceding month) Personal income, current dollars 0.4 0.3 0.4 0.2 0.2 Disposable personal income: Current dollars 0.4 0.2 0.3 0.1 0.2 Chained (2009) dollars 0.2 0.1 0.3 0.1 0.1 Personal consumption expenditures: Current dollars 0.5 0.1 0.5 0.0 0.2 Chained (2009) dollars 0.3 0.0 0.6 0.0 0.2 BOX.______________ This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government social insurance for April through June 2014 (second quarter). These estimates reflect the incorporation of the most recently available second-quarter wage and salary tabulations from the quarterly census of employment and wages from the Bureau of Labor Statistics. __________________ 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 $18.8 billion in October, compared with an increase of $13.9 billion in September. Goods-producing industries' payrolls increased $7.2 billion, compared with an increase of $2.4 billion; manufacturing payrolls increased $4.4 billion, compared with an increase of $0.7 billion. Services-producing industries' payrolls increased $11.6 billion, compared with an increase of $11.3 billion. Government wages and salaries increased $1.4 billion, compared with an increase of $1.8 billion. Other personal income Supplements to wages and salaries increased $3.8 billion in October, compared with an increase of $3.9 billion in September. Proprietors' income increased $7.4 billion in October, in contrast to a decrease of $1.6 billion in September. Farm proprietors' income decreased $1.2 billion, compared with a decrease of $10.1 billion. Nonfarm proprietors' income increased $8.6 billion, compared with an increase of $8.5 billion. Rental income of persons increased $2.5 billion in October, compared with an increase of $4.2 billion in September. Personal income receipts on assets (personal interest income plus personal dividend income) increased $3.1 billion, in contrast to a decrease of $0.1 billion. Personal current transfer receipts decreased $1.8 billion, in contrast to an increase of $4.8 billion. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $2.4 billion in October, compared with an increase of $2.1 billion in September. Personal current taxes and disposable personal income Personal current taxes increased $9.4 billion in October, compared with an increase of $7.4 billion in September. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $23.4 billion, or 0.2 percent, in October, compared with an increase of $17.2 billion, or 0.1 percent, in September.
Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $26.3 billion in October, compared with an increase of $8.7 billion in September. PCE increased $27.3 billion, compared with an increase of $4.1 billion. Personal saving -- DPI less personal outlays -- was $651.2 billion in October, compared with $654.0 billion in September. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.0 percent in October, the same as in September. 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 0.1 percent in October, the same increase as in September. Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in October, in contrast to a decrease of less than 0.1 percent in September. Purchases of durable goods decreased 0.1 percent, compared with a decrease of 1.0 percent. Purchases of motor vehicles and parts more than accounted for the decrease in durable goods in both October and September. Purchases of nondurable goods increased 0.5 percent in October, in contrast to a decrease of 0.3 percent in September. Purchases of services increased 0.1 percent, compared with an increase of 0.2 percent. The price index for PCE increased 0.1 percent in October, the same increase as in September. The PCE price index, excluding food and energy, increased 0.2 percent in October, compared with an increase of 0.1 percent in September. The October price index for PCE increased 1.4 percent from October a year ago. The October PCE price index, excluding food and energy, increased 1.6 percent from October a year ago. Revisions Estimates for personal income and DPI have been revised for April through September; estimates for PCE have been revised for July through September. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for August and September -- revised and as published in last month's release -- are shown below. Estimates of wages and salaries were revised from April through September. The revision to second-quarter wages and salaries reflect the incorporation of the most recently available BLS tabulations of second-quarter wages and salaries from the quarterly census of employment and wages. Revised estimates for July, August, and September reflect extrapolation from the revised second-quarter level of wages. In addition, revisions to August and September reflect revised BLS employment, hours, and earnings data for those months. Change from preceding month August September Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 50.7 53.3 0.3 0.4 22.7 24.6 0.2 0.2 Disposable personal income: Current dollars 37.5 39.2 0.3 0.3 15.7 17.2 0.1 0.1 Chained (2009) dollars 40.3 41.4 0.3 0.3 5.4 6.4 0.0 0.1 Personal consumption expenditures: Current dollars 58.7 63.3 0.5 0.5 -19.0 4.1 -0.2 0.0 Chained (2009) dollars 59.4 63.2 0.5 0.6 -25.8 -5.0 -0.2 0.0 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 – December 23, 2014 at 10:00 A.M. EST for Personal Income and Outlays for November Release Dates for 2015 December 2014....February 2 April 2015..June 1 August 2015.....September 28 January 2015.....March 2 May 2015....June 25 September 2015..October 30 February 2015....March 30 June 2015...August 3 October 2015....November 25 March 2015.......April 30 July 2015...August 28 November 2015...December 23