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Personal Income and Outlays, March 2017
Personal income increased $40.0 billion (0.2 percent) in March according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $35.0 billion (0.2 percent) and personal consumption expenditures (PCE) increased $5.7 billion (less than 0.1 percent). Real DPI increased 0.5 percent in March and Real PCE increased 0.3 percent. The PCE price index decreased 0.2 percent. Excluding food and energy, the PCE price index decreased 0.1 percent. 2016 2017 Nov. Dec. Jan. Feb. Mar. Percent change from preceding month Personal income: Current dollars 0.2 0.3 0.4 0.3 0.2 Disposable personal income: Current dollars 0.2 0.3 0.3 0.3 0.2 Chained (2009) dollars 0.1 0.1 -0.1 0.2 0.5 Personal consumption expenditures (PCE): Current dollars 0.3 0.6 0.2 0.0 0.0 Chained (2009) dollars 0.2 0.4 -0.3 -0.1 0.3 Price indexes: PCE 0.1 0.2 0.4 0.1 -0.2 PCE, excluding food and energy 0.0 0.1 0.3 0.2 -0.1 Price indexes: Percent change from month one year ago PCE 1.3 1.6 1.9 2.1 1.8 PCE, excluding food and energy 1.7 1.7 1.8 1.8 1.6 The increase in personal income in March primarily reflected increases in government social benefits to persons, nonfarm proprietors’ income, and compensation of employees (table 3). The increase in real PCE in March was more than accounted for by an increase in spending for services, notably spending for household utilities. This increase was partially offset by a decrease in spending for durable goods, which was more than accounted for by a decrease in motor vehicles and parts. Personal outlays increased $4.9 billion in March (table 3). Personal saving was $849.1 billion in March and the personal saving rate, personal saving as a percentage of disposable personal income, was 5.9 percent (table 1). Updates Estimates have been updated for January and February. The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2009) dollar DPI and PCE -- revised and previously published -- are shown below. Change from preceding month January February Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 74.5 70.8 0.5 0.4 57.7 55.7 0.4 0.3 Disposable personal income: Current dollars 50.2 44.5 0.4 0.3 44.6 41.4 0.3 0.3 Chained (2009) dollars -9.0 -17.4 -0.1 -0.1 23.0 21.8 0.2 0.2 Personal consumption expenditures: Current dollars 27.4 24.9 0.2 0.2 7.4 -2.4 0.1 0.0 Chained (2009) dollars -24.6 -30.0 -0.2 -0.3 -8.7 -15.9 -0.1 -0.1 BOX.________________________ Upcoming Annual Update of the National Income and Product Accounts As part of the annual update of the national income and product accounts (NIPAs), revised estimates of personal income and outlays will be released in conjunction with initial estimates for June 2017 on August 1, 2017. This regular update of the accounts will cover the most recent 3 years and the first 5 months of 2017. For more information, see the GDP Technical Note. ____________________________ Next release: May 30, 2017 at 8:30 A.M. EDT Personal Income and Outlays: April 2017