News Release
These data have been superseded. Please see our latest releases for current estimates and contact information.
Personal Income and Outlays, December 2015
Personal income increased $42.5 billion, or 0.3 percent, and disposable personal income (DPI) increased $37.8 billion, or 0.3 percent, in December, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $0.7 billion, or less than 0.1 percent. In November, personal income increased $44.3 billion, or 0.3 percent, DPI increased $33.4 billion, or 0.2 percent, and PCE increased $59.4 billion, or 0.5 percent, based on revised estimates. Real DPI increased 0.4 percent in December, compared with an increase of 0.2 percent in November. Real PCE increased 0.1 percent, compared with an increase of 0.4 percent. 2015 Aug. Sept. Oct. Nov. Dec. (Percent change from preceding month) Personal income, current dollars 0.4 0.2 0.4 0.3 0.3 Disposable personal income: Current dollars 0.4 0.2 0.3 0.2 0.3 Chained (2009) dollars 0.4 0.3 0.2 0.2 0.4 Personal consumption expenditures: Current dollars 0.3 0.2 0.0 0.5 0.0 Chained (2009) dollars 0.3 0.2 0.0 0.4 0.1 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. __________________ Compensation Wages and salaries increased $13.1 billion in December, compared with an increase of $37.9 billion in November. Private wages and salaries increased $10.3 billion, compared with an increase of $35.3 billion. Government wages and salaries increased $2.8 billion, compared with an increase of $2.6 billion. Supplements to wages and salaries increased $4.8 billion in December, compared with an increase of $6.4 billion in November. Other personal income Proprietors' income increased $13.4 billion in December, in contrast to a decrease of $1.9 billion in November. Farm proprietors' income decreased $0.3 billion, the same decrease as in November. Nonfarm proprietors' income increased $13.8 billion in December, in contrast to a decrease of $1.6 billion in November. Rental income of persons increased $3.3 billion in December, compared with an increase of $2.7 billion in November. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $8.8 billion, compared with a decrease of $5.4 billion. Personal current transfer receipts increased $18.1 billion in December, compared with an increase of $9.4 billion in November. Within current transfer receipts , government social benefit payments to persons included retroactive social security benefit payments of $8.8 billion (at an annual rate), resulting from a recalculation of the earnings base underlying the benefits of recent retirees. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $1.3 billion in December, compared with an increase of $4.9 billion in November. Personal current taxes and disposable personal income Personal current taxes increased $4.8 billion in December, compared with an increase of $10.9 billion in November. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $37.8 billion, or 0.3 percent, compared with an increase of $33.4 billion, or 0.2 percent. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $2.0 billion in December, compared with an increase of $62.1 billion in November. PCE decreased $0.7 billion, in contrast to an increase of $59.4 billion. Personal saving -- DPI less personal outlays -- was $753.5 billion in December, compared with $717.8 billion in November. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.5 percent, compared with 5.3 percent. 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 0.4 percent in December, compared with an increase of 0.2 percent in November. Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in December, compared with an increase of 0.4 percent in November. Purchases of durable goods decreased 0.7 percent, in contrast to an increase of 1.8 percent. Purchases of motor vehicles and parts more than accounted for the decrease in December. Purchases of nondurable goods decreased 0.2 percent in December, in contrast to an increase of 0.6 percent in November. Purchases of services increased 0.3 percent, compared with an increase of 0.1 percent. The price index for PCE decreased 0.1 percent in December, in contrast to an increase of 0.1 percent in November. The PCE price index, excluding food and energy, increased less than 0.1 percent, compared to an increase of 0.2 percent. The December PCE price index increased 0.6 percent from December a year ago. The December PCE price index, excluding food and energy, increased 1.4 percent from December a year ago. 2015 Personal Income and Outlays Personal income increased 4.5 percent in 2015 (that is, from the 2014 annual level to the 2015 annual level), compared with an increase of 4.4 percent in 2014. DPI increased 3.8 percent, compared with an increase of 4.2 percent. PCE increased 3.4 percent, compared with an increase of 4.2 percent. Real DPI increased 3.5 percent in 2015, compared with an increase of 2.7 percent in 2014. Real PCE increased 3.1 percent, compared with an increase of 2.7 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 chained (2009) dollar PCE for October and for 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 66.9 54.9 0.4 0.4 44.4 44.3 0.3 0.3 Disposable personal income: Current dollars 54.0 40.8 0.4 0.3 34.5 33.4 0.3 0.2 Chained (2009) dollars 42.5 29.6 0.3 0.2 28.0 21.8 0.2 0.2 Personal consumption expenditures: Current dollars 3.8 2.9 0.0 0.0 40.1 59.4 0.3 0.5 Chained (2009) dollars -2.7 -4.4 0.0 0.0 33.4 46.3 0.3 0.4 BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of Current Business are available for free on BEA's Web site at www.bea.gov. The entire historical time series for these estimates can be accessed in BEA's Interactive Data Application at www.bea.gov/itable/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at www.bea.gov/API/signup/index.cfm. BEA's news release schedule is available at /newsreleases/news_release_sort_national.htm. * * * Next release – Friday, February 26 at 10:00 A.M. EST for Personal Income and Outlays for January