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Personal Income and Outlays, September 2017
Personal income increased $66.9 billion (0.4 percent) in September according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $53.0 billion (0.4 percent) and personal consumption expenditures (PCE) increased $136.0 billion (1.0 percent). Real DPI decreased less than 0.1 percent in September and Real PCE increased 0.6 percent. The PCE price index increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.1 percent. 2017 May June July Aug. Sept. Percent change from preceding month Personal income: Current dollars 0.3 0.0 0.3 0.2 0.4 Disposable personal income: Current dollars 0.4 0.0 0.2 0.1 0.4 Chained (2009) dollars 0.5 0.0 0.1 -0.1 0.0 Personal consumption expenditures (PCE): Current dollars 0.2 0.1 0.4 0.1 1.0 Chained (2009) dollars 0.3 0.1 0.3 -0.1 0.6 Price indexes: PCE -0.1 0.0 0.1 0.2 0.4 PCE, excluding food and energy 0.1 0.1 0.1 0.1 0.1 Price indexes: Percent change from month one year ago PCE 1.5 1.4 1.4 1.4 1.6 PCE, excluding food and energy 1.5 1.5 1.4 1.3 1.3 The increase in personal income in September primarily reflected increases in wages and salaries and nonfarm proprietors’ income (table 3). The $76.0 billion increase in real PCE in September reflected an increase of $59.1 billion in spending for goods and a $21.6 billion increase in spending for services (table 7). Within goods, new motor vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for household utilities. Detailed information on monthly real PCE spending can be found on Table 2.3.6U. Personal outlays increased $132.5 billion in September (table 3). Personal saving was $441.9 billion in September and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.1 percent (table 1). Updates Estimates have been updated for July and August. The 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 for July and August. Change from preceding month July August Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 56.1 52.2 0.3 0.3 28.6 29.2 0.2 0.2 Disposable personal income: Current dollars 28.8 24.0 0.2 0.2 14.9 14.6 0.1 0.1 Chained (2009) dollars 13.2 8.2 0.1 0.1 -13.0 -13.2 -0.1 -0.1 Personal consumption expenditures: Current dollars 43.6 48.6 0.3 0.4 18.0 17.6 0.1 0.1 Chained (2009) dollars 27.2 31.0 0.2 0.3 -8.4 -8.7 -0.1 -0.1 BOX.____________________________ Hurricanes Harvey and Irma The August and September estimates of personal income and outlays reflect the effects of Hurricanes Harvey and Irma. BEA cannot separately quantify the total impact of the storms on personal income and outlays because most of the source data used to estimate the components of personal income and outlays do not separately identify storm impacts. BEA made adjustments to estimates where source data were not yet available or did not fully reflect the effects of the storms. For more information on the treatment of disasters within the national income and product accounts, see “How are the measures of production and income in the national accounts affected by a natural or man-made disaster?” ________________________________ Next release: November 30, 2017 at 8:30 A.M. EST Personal Income and Outlays: October 2017 Personal Income and Outlays Release Dates for 2018 December 2017....January 29 April 2018....May 31 August 2018......September 28 January 2018.....March 1 May 2018......June 29 September 2018...October 29 February 2018....March 29 June 2018.....July 31 October 2018.....November 29 March 2018.......April 30 July 2018.....August 30 November 2018....December 21