FOR WIRE TRANSMISSION: 8:30 A.M. EDT, FRIDAY, AUGUST 1, 1997 Tracey D. Schlitzer: (202) 606-5301 (Personal Income) BEA 97-24 Clinton P. McCully: 606-5302 (Personal Outlays) Recorded message: 606-5303 PERSONAL INCOME AND OUTLAYS  JUNE 1997  REVISED ESTIMATES: 1993 THROUGH MAY 1997 Personal income increased $42.9 billion, or 0.6 percent, and disposable personal income (DPI) increased $31.7 billion, or 0.5 percent, in June, according to the Commerce Department's Bureau of Economic Analysis (BEA). Personal consumption expenditures (PCE) increased $14.7 billion, or 0.3 percent. In May, personal income increased $23.3 billion, or 0.3 percent, DPI increased $14.9 billion, or 0.3 percent, and PCE increased $16.5 billion, or 0.3 percent, based on revised estimates. 1997 Feb. Mar. Apr. May June (Percent change from preceding month) Personal income, current dollars . . . . . 0.7 0.6 0.2 0.3 0.6 Disposable personal income: Current dollars. . . . . . . . . . . . . .6 .5 .1 .3 .5 Chained (1992) dollars . . . . . . . . . .3 .4 .0 .3 .4 Personal consumption expenditures: Current dollars. . . . . . . . . . . . . .2 .0 .1 .3 .3 Chained (1992) dollars . . . . . . . . . .0 .0 .0 .3 .1 The estimates released today reflect revisions in the national income and product accounts beginning with January 1993. Revisions are usually made each July mainly to incorporate source data that are more complete, more detailed, and otherwise more appropriate than previously available. This release includes the revised monthly estimates of personal income, disposable personal income, and personal outlays and provides an overview of the effects of the revision. The August 1997 Survey of Current Business will contain national income and product accounts tables and an article describing the revisions. The published estimates will be available on computer diskettes; to order, write to the Bureau of Economic Analysis, BEA Order Desk (BE-53), Washington, DC 20230, or call 1-800-704-0415. Wages and salaries Private wage and salary disbursements increased $31.8 billion in June, compared with an increase of $12.0 billion in May. Employment, average hourly earnings, and average weekly hours all increased in June. Goods-producing industries' payrolls increased $2.2 billion in June, compared with an increase of $3.4 billion in May; manufacturing payrolls increased $1.9 billion, compared with an increase of $0.9 billion. Distributive industries' payrolls increased $5.8 billion, compared with an increase of $2.7 billion. Service industries' payrolls increased $23.7 billion, compared with an increase of $6.1 billion. Government wage and salary disbursements increased $0.8 billion in June, the same as in May. Other personal income Proprietors' income increased $3.0 billion in June, compared with an increase of $2.3 billion in May. Nonfarm proprietors' income increased $2.5 billion, compared with an increase of $1.2 billion. Transfer payments increased $3.8 billion, compared with an increase of $2.4 billion. Personal interest income increased $3.0 billion, compared with an increase of $3.1 billion. Rental income of persons decreased $1.3 billion in June; it was unchanged in May. Personal taxes and disposable personal income Personal tax and nontax payments increased $11.2 billion in June, compared with an increase of $8.5 billion in May. Disposable personal income (DPI) -- personal income less personal tax and nontax payments -- increased $31.7 billion, or 0.5 percent, in June, compared with an increase of $14.9 billion, or 0.3 percent, in May. Personal outlays and personal saving Personal outlays -- personal consumption expenditures (PCE), interest paid by persons, and personal transfer payments to the rest of the world (net) -- increased $15.0 billion in June, compared with an increase of $16.6 billion in May. PCE increased $14.7 billion, compared with an increase of $16.5 billion. Personal saving -- disposable personal income less personal outlays -- was $258.5 billion in June, compared with $241.8 billion in May. Personal saving as a percentage of disposable personal income was 4.4 percent in June, compared with 4.1 percent in May. Chained (1992) dollar estimates Real DPI -- DPI adjusted to remove price changes -- increased 0.4 percent in June, compared with an increase of 0.3 percent in May. Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in June, compared with an increase of 0.3 percent in May. Purchases of durable goods decreased 0.4 percent, in contrast to an increase of 0.8 percent; motor vehicle purchases more than accounted for the June decrease and accounted for most of the May increase. Purchases of nondurable goods increased 0.3 percent in June, compared with an increase of 0.2 percent in May. Purchases of services increased 0.2 percent, compared with an increase of 0.3 percent. Annual Revision of the National Income and Product Accounts Estimates Personal income and outlays are components of the national income and product accounts (NIPA's). The NIPA's usually are revised each July, mainly to incorporate new source data that are more complete, more detailed, and otherwise more appropriate than data previously available. Revisions to personal income and its disposition are shown in table 6; revised and previously published estimates of personal income, DPI, PCE, and personal saving as a percentage of DPI are shown in table 7; and revised and previously published estimates of real DPI and real PCE are shown in table 8. Personal income was revised up $23.6 billion, or 0.4 percent, in 1993; $29.8 billion, or 0.5 percent, in 1994; $38.4 billion, or 0.6 percent, in 1995; and $45.7 billion, or 0.7 percent, in 1996. In 1993, upward revisions to proprietor's income accounted for almost two-thirds of the upward revision. In 1994, upward revisions to rental income, proprietor's income, and personal dividend income accounted for most of the upward revision. In 1995, upward revisions to personal dividend income and rental income more than offset downward revisions to other labor income and transfer payments to persons. In 1996, upward revisions to personal dividend income and rental income more than offset downward revisions to other labor income, proprietor's income, and transfer payments to persons. Personal tax and nontax payments was revised up in all four years: $0.1 billion in 1993, $7.7 billion in 1994, $0.8 billion in 1995, and $23.1 billion in 1996. Disposable personal income was revised up in all four years: $23.5 billion in 1993, $22.1 billion in 1994, $37.6 billion in 1995, and $22.6 billion in 1996. Personal outlays was revised up in all four years: $4.9 billion in 1993, $9.8 billion in 1994, $29.6 billion in 1995, and $54.8 billion in 1996. The revisions in all four years were primarily due to upward revisions to PCE for services, which more than offset downward revisions to interest paid by persons. Personal saving was revised up $18.6 billion in 1993, $12.3 billion in 1994, and $8.0 billion in 1995; it was revised down $32.0 billion in 1996. The saving rate was revised up from 4.8 percent to 5.1 percent in 1993, up from 3.9 percent to 4.2 percent in 1994, up from 4.6 percent to 4.8 percent in 1995, and down from 4.9 percent to 4.3 percent in 1996. * * * BEA estimates are available in several forms in addition to printed news releases. News releases are available at the time of public release through three subscription services offered by the Commerce Department's STAT-USA. Information on how to receive releases by FAX may be obtained by calling (202) 482-1986 (voice). Information about the Economic Bulletin Board (EBB) and about Internet services may be obtained at the same voice number and on-line, as follows: EBB (202) 482-3870 Internet http://www.stat-usa.gov In addition, BEA's most frequently requested statistical series are available on the Internet, as follows:  The Federal Statistics Briefing Room (FSBR) on the White House web site provides summary statistics for GDP and other major aggregates on its output, income, and international statistics pages. http://www.whitehouse.gov/fsbr  The FSBR provides links to BEA's web site, which provides summary tables and charts on BEA's national, international, and regional data. http://www.bea.gov  BEA's web site provides links to detailed BEA databases on STAT-USA's Internet subscription service. http://www.stat-usa.gov Summary estimates are available on recorded messages at the time of public release at the following telephone numbers: (202) 606 - 5306 Gross domestic product 5303 Personal income and outlays 5362 Summary of international transactions Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's monthly journal. The Survey of Current Business is available from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. First class mail: annual subscription $69.00 domestic. Second class mail: annual subscription $35.00 domestic, $43.75 foreign; single issue $11.00 domestic, $13.75 foreign. In addition, the Survey of Current Business is now available on the Internet in a searchable, retrievable electronic format at least a week before the printed version. To subscribe to STAT-USA's World Wide Web system, go to http://www.stat-usa.gov. Subscriptions for single-user unlimited access to STAT-USA's Internet information are $50.00 for 3 months or $150.00 for 1 year. For further information, call (202) 482-1986. * * * Next release -- Personal Income and Outlays for July will be released on August 29, at 8:30 A.M. EDT. Table 1. -- Personal Income [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1992 1993 Jan. 93 Feb. 93 Mar. 93 Apr. 93 May 93 June 93 July 93 Aug. 93 Sep. 93 Oct. 93 Nov. 93 Dec. 93 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income..................... 5,277.2 5,519.2 5,366.1 5,375.0 5,367.2 5,483.3 5,518.3 5,510.6 5,517.7 5,556.9 5,558.1 5,580.3 5,603.7 5,793.4 Wage and salary disbursements..... 2,986.4 3,089.6 2,975.2 2,979.4 2,971.7 3,064.6 3,091.9 3,081.5 3,097.5 3,119.4 3,116.3 3,130.0 3,137.7 3,310.1 Private industries.............. 2,418.6 2,505.3 2,390.9 2,399.9 2,392.3 2,484.4 2,510.3 2,498.7 2,513.1 2,533.2 2,528.1 2,542.4 2,549.6 2,720.5 Goods-producing industries 1/. 765.7 781.2 748.2 752.4 748.4 780.1 780.5 779.2 783.2 785.3 791.0 793.2 797.5 835.0 Manufacturing............... 583.5 592.9 566.5 568.2 565.3 594.5 592.2 591.9 594.2 595.7 601.5 601.1 604.7 639.0 Distributive industries....... 680.3 699.4 679.1 678.7 674.8 693.4 702.0 697.7 702.6 706.3 704.0 708.5 707.2 738.8 Service industries............ 972.6 1,024.7 963.6 968.8 969.1 1,010.9 1,027.9 1,021.9 1,027.2 1,041.7 1,033.1 1,040.7 1,044.9 1,146.7 Government...................... 567.8 584.3 584.3 579.4 579.4 580.2 581.6 582.8 584.4 586.1 588.3 587.6 588.1 589.6 Other labor income................ 351.3 385.1 371.3 374.4 375.7 379.2 383.9 383.8 386.9 390.6 390.9 393.3 394.6 396.7 Proprietors' income with IVA and CCAdj.......................... 423.8 450.8 439.6 441.6 439.8 450.0 455.4 451.2 444.5 446.4 447.8 454.5 465.8 473.1 Farm........................... 37.1 32.4 30.0 29.2 29.9 36.1 37.5 35.2 26.8 23.4 26.5 32.2 39.0 42.7 Nonfarm........................ 386.7 418.4 409.5 412.3 410.0 413.9 417.9 416.1 417.7 422.9 421.3 422.3 426.8 430.3 Rental income of persons with CCAdj........................... 79.4 105.7 99.5 102.3 97.4 104.6 105.6 106.6 100.6 108.3 109.5 107.6 111.8 115.0 Personal dividend income.......... 159.4 185.3 176.5 177.9 179.1 180.4 182.0 183.9 185.8 187.7 189.8 191.9 193.7 194.8 Personal interest income.......... 667.2 651.0 661.3 660.4 659.3 656.3 653.3 651.3 649.8 647.7 645.9 644.2 641.0 641.1 Transfer payments to persons...... 858.2 912.0 897.6 894.7 899.4 906.3 906.2 911.7 913.2 918.9 919.8 921.9 922.9 931.2 Old-age, survivors, disability, and health insurance benefits. 414.0 444.4 440.9 436.5 435.4 441.7 441.5 442.3 445.2 445.8 448.1 449.4 450.3 455.6 Government unemployment insurance benefits............ 38.9 34.0 34.6 32.9 35.9 34.2 32.6 36.5 33.8 35.5 34.7 32.4 31.8 33.6 Other........................... 405.4 433.5 422.0 425.4 428.1 430.4 432.1 432.9 434.2 437.6 437.0 440.1 440.8 442.1 Less: Personal contributions for social insurance................ 248.4 260.3 254.9 255.6 255.2 258.1 260.1 259.5 260.6 262.1 262.0 263.1 263.8 268.7 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 1. -- Personal Income [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1994 Jan. 94 Feb. 94 Mar. 94 Apr. 94 May 94 June 94 July 94 Aug. 94 Sep. 94 Oct. 94 Nov. 94 Dec. 94 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income..................... 5,791.8 5,562.0 5,628.0 5,658.9 5,740.4 5,776.6 5,782.8 5,811.5 5,834.2 5,868.5 5,928.8 5,937.6 5,972.0 Wage and salary disbursements..... 3,240.7 3,138.4 3,128.5 3,148.0 3,214.5 3,241.8 3,239.7 3,256.6 3,262.2 3,281.9 3,319.6 3,318.6 3,338.5 Private industries.............. 2,638.5 2,543.8 2,532.1 2,551.1 2,615.4 2,638.1 2,638.6 2,654.5 2,658.7 2,677.0 2,713.1 2,710.8 2,728.7 Goods-producing industries 1/. 824.4 793.5 794.9 802.9 816.1 821.2 824.1 829.0 832.0 837.6 842.9 847.5 851.3 Manufacturing............... 620.8 598.6 598.4 605.2 615.2 618.9 621.2 624.1 626.8 629.8 633.7 637.1 640.6 Distributive industries....... 741.4 715.7 711.9 719.9 732.8 738.9 742.1 745.7 746.4 752.0 764.1 761.3 765.4 Service industries............ 1,072.7 1,034.6 1,025.3 1,028.3 1,066.5 1,078.1 1,072.4 1,079.8 1,080.3 1,087.4 1,106.1 1,101.9 1,112.0 Government...................... 602.2 594.6 596.4 596.9 599.1 603.7 601.1 602.1 603.4 604.9 606.5 607.8 609.8 Other labor income................ 405.0 399.8 398.3 400.4 402.2 405.0 403.9 406.8 406.4 407.5 411.0 409.1 409.3 Proprietors' income with IVA and CCAdj.......................... 471.6 436.3 478.3 477.2 476.0 475.2 473.0 470.5 472.0 472.4 475.4 475.8 477.2 Farm........................... 36.9 46.5 47.9 44.8 41.1 38.8 36.7 34.9 33.2 31.6 31.2 29.3 27.0 Nonfarm........................ 434.7 389.8 430.5 432.4 434.9 436.5 436.3 435.6 438.8 440.8 444.3 446.5 450.2 Rental income of persons with CCAdj........................... 124.4 93.6 120.7 124.0 124.5 126.0 127.5 127.9 130.2 132.1 129.8 128.9 128.0 Personal dividend income.......... 204.8 190.1 191.8 194.3 197.6 200.3 202.8 205.5 208.4 211.7 215.3 218.9 221.4 Personal interest income.......... 668.1 639.5 640.8 643.9 651.0 656.3 661.9 666.9 673.8 681.6 693.5 700.9 706.8 Transfer payments to persons...... 954.7 936.3 941.0 943.9 949.6 948.8 951.0 955.3 959.9 961.1 966.6 967.9 974.7 Old-age, survivors, disability, and health insurance benefits. 473.0 460.4 463.2 466.2 469.1 470.5 471.5 474.0 475.7 477.6 479.7 480.6 487.0 Government unemployment insurance benefits............ 23.6 29.2 28.1 26.0 26.1 22.9 22.6 21.8 21.9 21.2 21.3 21.1 20.4 Other........................... 458.2 446.7 449.7 451.7 454.4 455.4 456.9 459.5 462.3 462.3 465.7 466.2 467.3 Less: Personal contributions for social insurance................ 277.5 272.0 271.4 272.7 275.0 276.8 276.9 278.1 278.5 279.8 282.4 282.4 283.8 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 1. -- Personal Income [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1995 Jan. 95 Feb. 95 Mar. 95 Apr. 95 May 95 June 95 July 95 Aug. 95 Sep. 95 Oct. 95 Nov. 95 Dec. 95 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income..................... 6,150.8 6,039.3 6,050.3 6,069.6 6,112.6 6,099.5 6,132.2 6,164.9 6,171.2 6,201.1 6,239.8 6,254.9 6,274.0 Wage and salary disbursements..... 3,429.5 3,366.7 3,369.6 3,377.4 3,412.4 3,388.5 3,412.9 3,445.9 3,442.8 3,462.0 3,487.2 3,489.5 3,498.8 Private industries.............. 2,806.5 2,751.9 2,752.0 2,758.2 2,792.9 2,767.7 2,790.0 2,821.7 2,817.6 2,836.1 2,860.2 2,861.1 2,868.7 Goods-producing industries 1/. 864.4 852.5 855.3 856.6 859.0 856.2 860.4 864.2 867.6 871.4 875.0 877.1 877.3 Manufacturing............... 648.4 642.9 643.3 644.0 644.9 643.4 645.4 648.0 650.3 652.3 654.1 656.0 655.7 Distributive industries....... 783.1 770.5 769.2 770.1 784.5 772.5 779.2 788.9 785.8 790.4 795.5 796.1 794.8 Service industries............ 1,159.0 1,128.9 1,127.5 1,131.5 1,149.5 1,139.1 1,150.4 1,168.5 1,164.2 1,174.2 1,189.7 1,187.9 1,196.6 Government...................... 623.0 614.8 617.6 619.2 619.5 620.8 623.0 624.2 625.2 626.0 627.0 628.4 630.2 Other labor income................ 406.8 409.6 407.6 406.4 409.3 404.7 405.8 407.9 405.8 406.3 407.5 406.0 405.3 Proprietors' income with IVA and CCAdj.......................... 488.9 477.8 477.7 479.0 480.2 484.3 488.9 486.9 492.4 495.6 499.3 502.1 503.2 Farm........................... 23.4 22.1 20.3 19.5 21.0 21.3 21.8 21.8 22.8 24.3 27.3 29.0 30.3 Nonfarm........................ 465.5 455.8 457.4 459.5 459.2 462.9 467.2 465.2 469.7 471.3 471.9 473.1 472.9 Rental income of persons with CCAdj........................... 132.8 130.0 130.5 131.1 132.1 132.4 132.4 130.5 131.2 132.7 132.3 138.6 140.4 Personal dividend income.......... 251.9 241.8 243.3 245.2 247.1 248.5 250.1 252.1 254.1 256.4 259.0 261.7 263.7 Personal interest income.......... 718.9 710.6 714.2 717.0 718.5 719.6 720.1 717.3 717.7 718.6 722.6 724.9 725.2 Transfer payments to persons...... 1,015.0 991.4 996.5 1,003.1 1,005.1 1,012.1 1,014.0 1,018.4 1,021.3 1,024.8 1,028.9 1,029.3 1,035.0 Old-age, survivors, disability, and health insurance benefits. 507.8 494.7 498.6 502.0 503.4 506.5 507.6 509.0 510.5 513.8 513.6 514.3 520.2 Government unemployment insurance benefits............ 21.4 21.2 20.9 20.8 20.3 21.6 21.2 22.2 21.6 21.6 22.5 22.3 21.1 Other........................... 485.7 475.5 476.9 480.3 481.5 483.9 485.3 487.2 489.2 489.3 492.8 492.6 493.7 Less: Personal contributions for social insurance................ 293.1 288.7 289.0 289.5 291.9 290.4 292.1 294.2 294.0 295.3 296.9 297.0 297.6 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 1. -- Personal Income [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1996 Jan. 96 Feb. 96 Mar. 96 Apr. 96 May 96 June 96 July 96 Aug. 96 Sep. 96 Oct. 96 Nov. 96 Dec. 96 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income..................... 6,495.2 6,311.0 6,371.1 6,396.0 6,424.7 6,446.8 6,512.4 6,504.9 6,538.9 6,582.0 6,575.6 6,615.2 6,664.4 Wage and salary disbursements..... 3,632.5 3,504.2 3,550.6 3,562.8 3,581.6 3,598.3 3,653.6 3,633.3 3,660.6 3,694.6 3,683.5 3,713.4 3,753.7 Private industries.............. 2,989.9 2,869.8 2,915.0 2,926.0 2,943.0 2,957.8 3,011.8 2,989.6 3,015.3 3,047.1 3,035.4 3,064.4 3,104.0 Goods-producing industries 1/. 909.1 874.9 891.4 888.5 901.5 905.6 911.9 912.5 918.6 920.6 921.7 926.5 935.2 Manufacturing............... 674.7 652.9 664.4 660.0 671.5 673.5 677.3 677.3 681.4 681.8 681.8 684.7 690.4 Distributive industries....... 823.3 793.9 806.9 812.3 810.4 814.6 832.6 821.0 829.1 836.9 832.1 840.8 848.9 Service industries............ 1,257.5 1,201.0 1,216.6 1,225.2 1,231.1 1,237.5 1,267.4 1,256.1 1,267.6 1,289.6 1,281.6 1,297.1 1,319.9 Government...................... 642.6 634.3 635.6 636.8 638.7 640.6 641.7 643.7 645.4 647.5 648.1 649.1 649.7 Other labor income................ 407.6 402.8 406.3 406.0 406.4 406.5 410.9 406.9 408.2 410.2 407.2 408.7 411.4 Proprietors' income with IVA and CCAdj.......................... 520.3 504.3 509.9 513.6 518.1 520.5 521.3 523.6 522.8 525.0 526.6 528.4 529.8 Farm........................... 37.2 30.7 31.9 33.2 35.1 36.5 37.8 39.4 40.2 40.7 40.8 40.5 39.9 Nonfarm........................ 483.1 473.6 478.1 480.4 483.0 484.0 483.5 484.2 482.6 484.4 485.8 487.9 490.0 Rental income of persons with CCAdj........................... 146.3 142.1 143.5 144.7 144.2 144.5 145.1 146.7 148.0 149.2 149.2 149.2 149.1 Personal dividend income.......... 291.2 286.2 287.4 288.7 289.5 290.1 290.6 291.3 291.9 292.7 293.7 295.0 296.9 Personal interest income.......... 735.7 721.7 722.1 723.2 724.6 727.4 731.4 738.9 743.0 746.2 747.8 749.8 751.8 Transfer payments to persons...... 1,068.0 1,048.1 1,052.5 1,058.9 1,063.5 1,063.7 1,067.3 1,070.6 1,072.4 1,074.3 1,077.0 1,081.8 1,085.5 Old-age, survivors, disability, and health insurance benefits. 537.6 525.2 529.2 534.2 533.9 535.2 537.1 538.8 540.6 540.8 542.3 546.2 548.2 Government unemployment insurance benefits............ 22.0 23.8 22.7 22.3 23.4 21.2 21.6 21.9 20.4 21.7 21.3 21.1 22.3 Other........................... 508.4 499.1 500.6 502.4 506.2 507.2 508.6 510.0 511.4 511.9 513.4 514.6 515.0 Less: Personal contributions for social insurance................ 306.3 298.2 301.2 302.0 303.2 304.2 307.7 306.3 308.1 310.2 309.4 311.3 313.8 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 1. -- Personal Income [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ------------------------------------------------------------------------------------------------------------------- Jan. 97 Feb. 97 Mar. 97 Apr. 97 May 97 June 97p ----------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income..................... 6,700.1 6,750.3 6,788.2 6,800.2 6,823.5 6,866.4 Wage and salary disbursements..... 3,754.1 3,799.1 3,821.3 3,822.1 3,834.9 3,867.4 Private industries.............. 3,098.7 3,140.9 3,161.7 3,161.2 3,173.2 3,205.0 Goods-producing industries 1/. 936.3 943.4 948.8 950.3 953.7 955.9 Manufacturing............... 690.5 693.4 698.4 699.5 700.4 702.3 Distributive industries....... 847.7 857.9 864.8 863.1 865.8 871.6 Service industries............ 1,314.6 1,339.6 1,348.1 1,347.7 1,353.8 1,377.5 Government...................... 655.5 658.2 659.7 660.9 661.7 662.5 Other labor income................ 410.5 412.5 413.9 413.4 415.1 417.0 Proprietors' income with IVA and CCAdj.......................... 532.2 534.5 537.2 541.0 543.3 546.3 Farm........................... 39.4 39.9 41.4 43.6 44.7 45.2 Nonfarm........................ 492.8 494.6 495.8 497.4 498.6 501.1 Rental income of persons with CCAdj........................... 148.5 149.3 149.2 149.0 149.0 147.7 Personal dividend income.......... 310.7 312.5 314.4 316.3 318.3 320.3 Personal interest income.......... 754.3 757.0 760.4 763.7 766.8 769.8 Transfer payments to persons...... 1,105.5 1,104.1 1,111.9 1,114.6 1,117.0 1,120.8 Old-age, survivors, disability, and health insurance benefits. 559.5 555.6 561.5 562.4 564.8 565.9 Government unemployment insurance benefits............ 22.1 22.0 22.0 22.0 22.0 21.8 Other........................... 523.9 526.5 528.4 530.3 530.2 533.0 Less: Personal contributions for social insurance................ 315.8 318.7 320.1 320.1 320.9 322.9 ----------------------------------------------------------------------------------------------------------------------------------------------------------------- P Preliminary; data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 2. -- The Disposition of Personal Income [Billions of dollars] ------------------------------------------------------------------------------------------------------------------------------------------------------------ Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1992 1993 Jan. 93 Feb. 93 Mar. 93 Apr. 93 May 93 June 93 July 93 Aug. 93 Sep. 93 Oct. 93 Nov. 93 Dec. 93 ------------------------------------------------------------------------------------------------------------------------------------------------------------ Personal income....................... 5,277.2 5,519.2 5,366.1 5,375.0 5,367.2 5,483.3 5,518.3 5,510.6 5,517.7 5,556.9 5,558.1 5,580.3 5,603.7 5,793.4 Less: Personal tax and nontax payments........................... 650.5 690.0 661.0 663.1 663.2 682.2 687.8 686.7 691.2 697.0 698.3 702.8 705.9 740.5 Equals: Disposable personal income... 4,626.7 4,829.2 4,705.1 4,711.9 4,704.0 4,801.1 4,830.5 4,823.9 4,826.5 4,859.9 4,859.9 4,877.5 4,897.9 5,052.9 Less: Personal outlays............... 4,341.0 4,580.7 4,488.5 4,500.6 4,476.2 4,535.7 4,543.6 4,569.2 4,594.3 4,607.9 4,627.1 4,657.5 4,674.2 4,693.9 Personal consumption expenditures... 4,219.8 4,459.2 4,365.2 4,377.3 4,353.7 4,413.4 4,422.7 4,448.2 4,473.2 4,486.6 4,505.9 4,536.8 4,554.2 4,573.8 Interest paid by persons............ 111.7 108.2 110.2 110.2 109.4 109.2 107.9 108.0 107.7 108.0 107.9 107.1 106.3 106.4 Personal transfer payments to the rest of the world (net)........... 9.6 13.3 13.1 13.1 13.1 13.1 13.1 13.1 13.4 13.4 13.4 13.7 13.7 13.7 Equals: Personal saving.............. 285.6 248.5 216.6 211.3 227.8 265.4 286.9 254.7 232.2 252.0 232.7 220.0 223.7 359.0 Addendum: Disposable personal income: Chained (1992) dollars 1/........... 4,626.7 4,703.9 4,632.8 4,624.8 4,609.3 4,691.1 4,714.4 4,706.2 4,703.7 4,727.1 4,720.0 4,715.9 4,727.7 4,873.8 Per capita: Current dollars................... 18,113 18,706 18,311 18,324 18,279 18,641 18,739 18,696 18,688 18,799 18,781 18,833 18,897 19,480 Chained (1992) dollars............ 18,113 18,221 18,029 17,985 17,911 18,214 18,288 18,240 18,213 18,286 18,241 18,209 18,240 18,790 Population (thousands).............. 255,432 258,161 256,961 257,148 257,346 257,558 257,781 258,017 258,266 258,518 258,764 258,991 259,194 259,388 Personal saving as a percentage of disposable personal income 2/....... 6.2 5.1 4.6 4.5 4.8 5.5 5.9 5.3 4.8 5.2 4.8 4.5 4.6 7.1 ------------------------------------------------------------------------------------------------------------------------------------------------------------ Data for all other periods, except 1992, are revised. 1/ Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price deflator for personal consumption expenditures. 2/ Monthly estimates equal personal saving for the month as a percentage of disposable personal income for that month. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 2. -- The Disposition of Personal Income [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1994 Jan. 94 Feb. 94 Mar. 94 Apr. 94 May 94 June 94 July 94 Aug. 94 Sep. 94 Oct. 94 Nov. 94 Dec. 94 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 5,791.8 5,562.0 5,628.0 5,658.9 5,740.4 5,776.6 5,782.8 5,811.5 5,834.2 5,868.5 5,928.8 5,937.6 5,972.0 Less: Personal tax and nontax payments........................... 739.1 711.8 711.0 715.8 780.6 735.7 735.2 737.5 738.8 743.2 751.6 751.8 755.7 Equals: Disposable personal income... 5,052.7 4,850.2 4,917.0 4,943.0 4,959.7 5,040.9 5,047.6 5,074.0 5,095.3 5,125.3 5,177.2 5,185.8 5,216.3 Less: Personal outlays............... 4,842.1 4,681.6 4,757.2 4,775.8 4,784.7 4,797.8 4,827.3 4,841.7 4,886.3 4,900.4 4,935.0 4,953.7 4,963.4 Personal consumption expenditures... 4,717.0 4,559.6 4,635.8 4,654.4 4,662.8 4,675.3 4,703.5 4,718.0 4,760.9 4,772.9 4,806.4 4,823.2 4,830.9 Interest paid by persons............ 110.9 107.9 107.3 107.4 107.8 108.4 109.8 109.6 111.3 113.3 114.2 116.1 118.1 Personal transfer payments to the rest of the world (net)........... 14.2 14.0 14.0 14.0 14.1 14.1 14.1 14.2 14.2 14.2 14.4 14.4 14.4 Equals: Personal saving.............. 210.6 168.7 159.9 167.2 175.0 243.1 220.3 232.3 209.0 224.9 242.2 232.1 252.9 Addendum: Disposable personal income: Chained (1992) dollars 1/........... 4,805.1 4,677.1 4,728.3 4,740.4 4,748.3 4,818.9 4,811.2 4,818.9 4,822.8 4,840.3 4,877.5 4,877.1 4,900.0 Per capita: Current dollars................... 19,381 18,686 18,932 19,017 19,066 19,362 19,371 19,455 19,519 19,616 19,799 19,816 19,918 Chained (1992) dollars............ 18,431 18,019 18,205 18,238 18,253 18,510 18,464 18,477 18,475 18,526 18,653 18,637 18,710 Population (thousands).............. 260,705 259,560 259,726 259,928 260,138 260,345 260,571 260,804 261,040 261,275 261,494 261,695 261,888 Personal saving as a percentage of disposable personal income 2/....... 4.2 3.5 3.3 3.4 3.5 4.8 4.4 4.6 4.1 4.4 4.7 4.5 4.8 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. 1/ Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price deflator for personal consumption expenditures. 2/ Monthly estimates equal personal saving for the month as a percentage of disposable personal income for that month. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 2. -- The Disposition of Personal Income [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1995 Jan. 95 Feb. 95 Mar. 95 Apr. 95 May 95 June 95 July 95 Aug. 95 Sep. 95 Oct. 95 Nov. 95 Dec. 95 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 6,150.8 6,039.3 6,050.3 6,069.6 6,112.6 6,099.5 6,132.2 6,164.9 6,171.2 6,201.1 6,239.8 6,254.9 6,274.0 Less: Personal tax and nontax payments........................... 795.1 765.3 766.1 768.1 826.3 775.2 783.9 794.1 797.4 805.0 814.4 819.4 826.3 Equals: Disposable personal income... 5,355.7 5,273.9 5,284.3 5,301.5 5,286.3 5,324.3 5,348.3 5,370.7 5,373.8 5,396.1 5,425.4 5,435.5 5,447.7 Less: Personal outlays............... 5,101.1 5,006.0 4,995.6 5,020.4 5,032.8 5,073.0 5,117.1 5,108.9 5,155.2 5,145.1 5,146.4 5,187.2 5,225.2 Personal consumption expenditures... 4,957.7 4,871.3 4,860.3 4,883.6 4,895.4 4,933.8 4,975.1 4,965.5 5,010.0 4,996.4 4,996.0 5,034.6 5,070.6 Interest paid by persons............ 128.5 120.2 120.8 122.2 123.0 124.9 127.6 128.5 130.3 133.9 134.9 137.1 139.2 Personal transfer payments to the rest of the world (net)........... 14.8 14.5 14.5 14.5 14.3 14.3 14.3 14.9 14.9 14.9 15.4 15.4 15.4 Equals: Personal saving.............. 254.6 267.9 288.7 281.1 253.5 251.3 231.3 261.8 218.6 250.9 279.0 248.3 222.6 Addendum: Disposable personal income: Chained (1992) dollars 1/........... 4,964.2 4,936.8 4,936.3 4,943.4 4,916.5 4,945.1 4,961.3 4,973.1 4,963.6 4,982.2 4,998.5 5,005.7 5,007.7 Per capita: Current dollars................... 20,349 20,125 20,152 20,202 20,128 20,257 20,331 20,399 20,392 20,458 20,552 20,576 20,608 Chained (1992) dollars............ 18,861 18,839 18,825 18,837 18,720 18,814 18,860 18,888 18,835 18,889 18,935 18,949 18,943 Population (thousands).............. 263,194 262,057 262,223 262,427 262,639 262,842 263,060 263,289 263,525 263,767 263,984 264,172 264,351 Personal saving as a percentage of disposable personal income 2/....... 4.8 5.1 5.5 5.3 4.8 4.7 4.3 4.9 4.1 4.7 5.1 4.6 4.1 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. 1/ Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price deflator for personal consumption expenditures. 2/ Monthly estimates equal personal saving for the month as a percentage of disposable personal income for that month. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 2. -- The Disposition of Personal Income [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1996 Jan. 96 Feb. 96 Mar. 96 Apr. 96 May 96 June 96 July 96 Aug. 96 Sep. 96 Oct. 96 Nov. 96 Dec. 96 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 6,495.2 6,311.0 6,371.1 6,396.0 6,424.7 6,446.8 6,512.4 6,504.9 6,538.9 6,582.0 6,575.6 6,615.2 6,664.4 Less: Personal tax and nontax payments........................... 886.9 827.6 842.2 850.1 909.4 868.8 885.1 885.9 897.0 909.1 909.4 921.7 936.8 Equals: Disposable personal income... 5,608.3 5,483.4 5,528.9 5,545.8 5,515.3 5,578.0 5,627.3 5,619.0 5,641.9 5,673.0 5,666.2 5,693.5 5,727.6 Less: Personal outlays............... 5,368.8 5,223.8 5,278.2 5,281.8 5,333.4 5,359.2 5,350.8 5,379.5 5,389.2 5,403.2 5,450.0 5,470.2 5,505.9 Personal consumption expenditures... 5,207.6 5,068.9 5,122.8 5,125.8 5,176.1 5,200.5 5,190.6 5,216.8 5,226.4 5,238.8 5,285.4 5,302.7 5,336.4 Interest paid by persons............ 145.2 139.5 140.0 140.7 141.5 142.9 144.4 146.8 146.9 148.5 147.9 150.8 152.8 Personal transfer payments to the rest of the world (net)........... 15.9 15.4 15.4 15.4 15.8 15.8 15.8 15.9 15.9 15.9 16.7 16.7 16.7 Equals: Personal saving.............. 239.6 259.7 250.7 264.0 181.9 218.8 276.5 239.5 252.6 269.8 216.3 223.3 221.7 Addendum: Disposable personal income: Chained (1992) dollars 1/........... 5,076.9 5,027.2 5,056.3 5,059.2 5,015.7 5,065.0 5,103.2 5,079.7 5,094.4 5,110.3 5,087.2 5,101.1 5,123.0 Per capita: Current dollars................... 21,117 20,731 20,890 20,938 20,807 21,029 21,199 21,150 21,219 21,318 21,277 21,364 21,478 Chained (1992) dollars............ 19,116 19,006 19,105 19,101 18,923 19,095 19,224 19,120 19,160 19,204 19,103 19,142 19,211 Population (thousands).............. 265,579 264,505 264,667 264,870 265,066 265,253 265,456 265,669 265,886 266,106 266,308 266,492 266,672 Personal saving as a percentage of disposable personal income 2/....... 4.3 4.7 4.5 4.8 3.3 3.9 4.9 4.3 4.5 4.8 3.8 3.9 3.9 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. 1/ Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price deflator for personal consumption expenditures. 2/ Monthly estimates equal personal saving for the month as a percentage of disposable personal income for that month. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 2. -- The Disposition of Personal Income [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ------------------------------------------------------------------------------------------------------------------- Jan. 97 Feb. 97 Mar. 97 Apr. 97 May 97 June 97p --------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 6,700.1 6,750.3 6,788.2 6,800.2 6,823.5 6,866.4 Less: Personal tax and nontax payments........................... 942.3 957.7 967.0 972.6 981.1 992.3 Equals: Disposable personal income... 5,757.8 5,792.7 5,821.2 5,827.5 5,842.4 5,874.1 Less: Personal outlays............... 5,565.9 5,578.5 5,579.5 5,584.0 5,600.6 5,615.6 Personal consumption expenditures... 5,396.7 5,409.7 5,410.8 5,413.9 5,430.4 5,445.1 Interest paid by persons............ 152.2 151.7 151.6 152.7 152.8 153.2 Personal transfer payments to the rest of the world (net)........... 17.0 17.0 17.0 17.4 17.4 17.4 Equals: Personal saving.............. 191.9 214.2 241.7 243.5 241.8 258.5 Addendum: Disposable personal income: Chained (1992) dollars 1/........... 5,142.3 5,159.4 5,181.4 5,182.6 5,197.6 5,219.1 Per capita: Current dollars................... 21,579 21,697 21,789 21,797 21,838 21,940 Chained (1992) dollars............ 19,272 19,326 19,394 19,385 19,427 19,493 Population (thousands).............. 266,826 266,975 267,161 267,354 267,541 267,740 Personal saving as a percentage of disposable personal income 2/....... 3.3 3.7 4.2 4.2 4.1 4.4 --------------------------------------------------------------------------------------------------------------------------------------------------------------- P Preliminary; data for all other periods, except 1992, are revised. 1/ Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price deflator for personal consumption expenditures. 2/ Monthly estimates equal personal saving for the month as a percentage of disposable personal income for that month. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 3. -- Personal Income and Its Disposition, Change From Preceding Period [Billions of dollars] -------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1992 1993 Jan. 93 Feb. 93 Mar. 93 Apr. 93 May 93 June 93 July 93 Aug. 93 Sep. 93 Oct. 93 Nov. 93 Dec. 93 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 295.6 242.0 -200.4 8.9 -7.8 116.1 35.0 -7.7 7.1 39.2 1.2 22.2 23.4 189.7 Wage and salary disbursements....... 158.8 103.2 -235.7 4.2 -7.7 92.9 27.3 -10.4 16.0 21.9 -3.1 13.7 7.7 172.4 Private industries................ 137.1 86.7 -247.0 9.0 -7.6 92.1 25.9 -11.6 14.4 20.1 -5.1 14.3 7.2 170.9 Goods-producing industries 1/... 19.4 15.5 -67.0 4.2 -4.0 31.7 0.4 -1.3 4.0 2.1 5.7 2.2 4.3 37.5 Manufacturing................. 21.0 9.4 -63.7 1.7 -2.9 29.2 -2.3 -0.3 2.3 1.5 5.8 -0.4 3.6 34.3 Distributive industries......... 33.7 19.1 -43.6 -0.4 -3.9 18.6 8.6 -4.3 4.9 3.7 -2.3 4.5 -1.3 31.6 Service industries.............. 84.0 52.1 -136.4 5.2 0.3 41.8 17.0 -6.0 5.3 14.5 -8.6 7.6 4.2 101.8 Government........................ 21.7 16.5 11.3 -4.9 0.0 0.8 1.4 1.2 1.6 1.7 2.2 -0.7 0.5 1.5 Other labor income.................. 28.6 33.8 7.4 3.1 1.3 3.5 4.7 -0.1 3.1 3.7 0.3 2.4 1.3 2.1 Proprietors' income with IVA and CCAdj............................ 47.3 27.0 5.0 2.0 -1.8 10.2 5.4 -4.2 -6.7 1.9 1.4 6.7 11.3 7.3 Farm............................. 7.8 -4.7 -5.0 -0.8 0.7 6.2 1.4 -2.3 -8.4 -3.4 3.1 5.7 6.8 3.7 Nonfarm.......................... 39.5 31.7 9.9 2.8 -2.3 3.9 4.0 -1.8 1.6 5.2 -1.6 1.0 4.5 3.5 Rental income of persons with CCAdj............................. 11.5 26.3 5.4 2.8 -4.9 7.2 1.0 1.0 -6.0 7.7 1.2 -1.9 4.2 3.2 Personal dividend income............ 5.8 25.9 2.3 1.4 1.2 1.3 1.6 1.9 1.9 1.9 2.1 2.1 1.8 1.1 Personal interest income............ -32.0 -16.2 1.3 -0.9 -1.1 -3.0 -3.0 -2.0 -1.5 -2.1 -1.8 -1.7 -3.2 0.1 Transfer payments to persons........ 88.3 53.8 18.4 -2.9 4.7 6.9 -0.1 5.5 1.5 5.7 0.9 2.1 1.0 8.3 Old-age, survivors, disability, and health insurance benefits... 31.7 30.4 17.1 -4.4 -1.1 6.3 -0.2 0.8 2.9 0.6 2.3 1.3 0.9 5.3 Government unemployment insurance benefits.............. 12.1 -4.9 -3.0 -1.7 3.0 -1.7 -1.6 3.9 -2.7 1.7 -0.8 -2.3 -0.6 1.8 Other............................. 44.6 28.1 4.2 3.4 2.7 2.3 1.7 0.8 1.3 3.4 -0.6 3.1 0.7 1.3 Less: Personal contributions for social insurance.................. 12.6 11.9 4.5 0.7 -0.4 2.9 2.0 -0.6 1.1 1.5 -0.1 1.1 0.7 4.9 Less: Personal tax and nontax 25.7 39.5 -40.9 2.1 0.1 19.0 5.6 -1.1 4.5 5.8 1.3 4.5 3.1 34.6 payments............................ Equals: Disposable personal income.... 269.9 202.5 -159.5 6.8 -7.9 97.1 29.4 -6.6 2.6 33.4 0.0 17.6 20.4 155.0 Less: Personal outlays................ 243.6 239.7 11.6 12.1 -24.4 59.5 7.9 25.6 25.1 13.6 19.2 30.4 16.7 19.7 Personal consumption expenditures... 244.7 239.4 8.2 12.1 -23.6 59.7 9.3 25.5 25.0 13.4 19.3 30.9 17.4 19.6 Interest paid by persons............ -0.2 -3.5 0.3 0.0 -0.8 -0.2 -1.3 0.1 -0.3 0.3 -0.1 -0.8 -0.8 0.1 Personal transfer payments to the rest of the world (net).......... -0.8 3.7 3.2 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.3 0.0 0.0 Equals: Personal saving............... 26.1 -37.1 -171.2 -5.3 16.5 37.6 21.5 -32.2 -22.5 19.8 -19.3 -12.7 3.7 135.3 Addendum: Disposable personal income in chained (1992) dollars.......... 126.7 77.2 -172.0 -8.0 -15.5 81.8 23.3 -8.2 -2.5 23.4 -7.1 -4.1 11.8 146.1 -------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 3. -- Personal Income and Its Disposition, Change From Preceding Period [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1994 Jan. 94 Feb. 94 Mar. 94 Apr. 94 May 94 June 94 July 94 Aug. 94 Sep. 94 Oct. 94 Nov. 94 Dec. 94 ----------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 272.6 -231.4 66.0 30.9 81.5 36.2 6.2 28.7 22.7 34.3 60.3 8.8 34.4 Wage and salary disbursements....... 151.1 -171.7 -9.9 19.5 66.5 27.3 -2.1 16.9 5.6 19.7 37.7 -1.0 19.9 Private industries................ 133.2 -176.7 -11.7 19.0 64.3 22.7 0.5 15.9 4.2 18.3 36.1 -2.3 17.9 Goods-producing industries 1/... 43.2 -41.5 1.4 8.0 13.2 5.1 2.9 4.9 3.0 5.6 5.3 4.6 3.8 Manufacturing................. 27.9 -40.4 -0.2 6.8 10.0 3.7 2.3 2.9 2.7 3.0 3.9 3.4 3.5 Distributive industries......... 42.0 -23.1 -3.8 8.0 12.9 6.1 3.2 3.6 0.7 5.6 12.1 -2.8 4.1 Service industries.............. 48.0 -112.1 -9.3 3.0 38.2 11.6 -5.7 7.4 0.5 7.1 18.7 -4.2 10.1 Government........................ 17.9 5.0 1.8 0.5 2.2 4.6 -2.6 1.0 1.3 1.5 1.6 1.3 2.0 Other labor income.................. 19.9 3.1 -1.5 2.1 1.8 2.8 -1.1 2.9 -0.4 1.1 3.5 -1.9 0.2 Proprietors' income with IVA and CCAdj............................ 20.8 -36.8 42.0 -1.1 -1.2 -0.8 -2.2 -2.5 1.5 0.4 3.0 0.4 1.4 Farm............................. 4.5 3.8 1.4 -3.1 -3.7 -2.3 -2.1 -1.8 -1.7 -1.6 -0.4 -1.9 -2.3 Nonfarm.......................... 16.3 -40.5 40.7 1.9 2.5 1.6 -0.2 -0.7 3.2 2.0 3.5 2.2 3.7 Rental income of persons with CCAdj............................. 18.7 -21.4 27.1 3.3 0.5 1.5 1.5 0.4 2.3 1.9 -2.3 -0.9 -0.9 Personal dividend income............ 19.5 -4.7 1.7 2.5 3.3 2.7 2.5 2.7 2.9 3.3 3.6 3.6 2.5 Personal interest income............ 17.1 -1.6 1.3 3.1 7.1 5.3 5.6 5.0 6.9 7.8 11.9 7.4 5.9 Transfer payments to persons........ 42.7 5.1 4.7 2.9 5.7 -0.8 2.2 4.3 4.6 1.2 5.5 1.3 6.8 Old-age, survivors, disability, and health insurance benefits... 28.6 4.8 2.8 3.0 2.9 1.4 1.0 2.5 1.7 1.9 2.1 0.9 6.4 Government unemployment insurance benefits.............. -10.4 -4.4 -1.1 -2.1 0.1 -3.2 -0.3 -0.8 0.1 -0.7 0.1 -0.2 -0.7 Other............................. 24.7 4.6 3.0 2.0 2.7 1.0 1.5 2.6 2.8 0.0 3.4 0.5 1.1 Less: Personal contributions for social insurance.................. 17.2 3.3 -0.6 1.3 2.3 1.8 0.1 1.2 0.4 1.3 2.6 0.0 1.4 Less: Personal tax and nontax 49.1 -28.7 -0.8 4.8 64.8 -44.9 -0.5 2.3 1.3 4.4 8.4 0.2 3.9 payments............................ Equals: Disposable personal income.... 223.5 -202.7 66.8 26.0 16.7 81.2 6.7 26.4 21.3 30.0 51.9 8.6 30.5 Less: Personal outlays................ 261.4 -12.3 75.6 18.6 8.9 13.1 29.5 14.4 44.6 14.1 34.6 18.7 9.7 Personal consumption expenditures... 257.8 -14.2 76.2 18.6 8.4 12.5 28.2 14.5 42.9 12.0 33.5 16.8 7.7 Interest paid by persons............ 2.7 1.5 -0.6 0.1 0.4 0.6 1.4 -0.2 1.7 2.0 0.9 1.9 2.0 Personal transfer payments to the rest of the world (net).......... 0.9 0.3 0.0 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.2 0.0 0.0 Equals: Personal saving............... -37.9 -190.3 -8.8 7.3 7.8 68.1 -22.8 12.0 -23.3 15.9 17.3 -10.1 20.8 Addendum: Disposable personal income in chained (1992) dollars.......... 101.2 -196.7 51.2 12.1 7.9 70.6 -7.7 7.7 3.9 17.5 37.2 -0.4 22.9 ----------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previouly titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 3. -- Personal Income and Its Disposition, Change From Preceding Period [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1995 Jan. 95 Feb. 95 Mar. 95 Apr. 95 May 95 June 95 July 95 Aug. 95 Sep. 95 Oct. 95 Nov. 95 Dec. 95 ----------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 359.0 67.3 11.0 19.3 43.0 -13.1 32.7 32.7 6.3 29.9 38.7 15.1 19.1 Wage and salary disbursements........ 188.8 28.2 2.9 7.8 35.0 -23.9 24.4 33.0 -3.1 19.2 25.2 2.3 9.3 Private industries................ 168.0 23.2 0.1 6.2 34.7 -25.2 22.3 31.7 -4.1 18.5 24.1 0.9 7.6 Goods-producing industries 1/... 40.0 1.2 2.8 1.3 2.4 -2.8 4.2 3.8 3.4 3.8 3.6 2.1 0.2 Manufacturing................. 27.6 2.3 0.4 0.7 0.9 -1.5 2.0 2.6 2.3 2.0 1.8 1.9 -0.3 Distributive industries......... 41.7 5.1 -1.3 0.9 14.4 -12.0 6.7 9.7 -3.1 4.6 5.1 0.6 -1.3 Service industries.............. 86.3 16.9 -1.4 4.0 18.0 -10.4 11.3 18.1 -4.3 10.0 15.5 -1.8 8.7 Government........................ 20.8 5.0 2.8 1.6 0.3 1.3 2.2 1.2 1.0 0.8 1.0 1.4 1.8 Other labor income.................. 1.8 0.3 -2.0 -1.2 2.9 -4.6 1.1 2.1 -2.1 0.5 1.2 -1.5 -0.7 Proprietors' income with IVA and CCAdj............................ 17.3 0.6 -0.1 1.3 1.2 4.1 4.6 -2.0 5.5 3.2 3.7 2.8 1.1 Farm............................. -13.5 -4.9 -1.8 -0.8 1.5 0.3 0.5 0.0 1.0 1.5 3.0 1.7 1.3 Nonfarm.......................... 30.8 5.6 1.6 2.1 -0.3 3.7 4.3 -2.0 4.5 1.6 0.6 1.2 -0.2 Rental income of persons with CCAdj............................. 8.4 2.0 0.5 0.6 1.0 0.3 0.0 -1.9 0.7 1.5 -0.4 6.3 1.8 Personal dividend income............ 47.1 20.4 1.5 1.9 1.9 1.4 1.6 2.0 2.0 2.3 2.6 2.7 2.0 Personal interest income............ 50.8 3.8 3.6 2.8 1.5 1.1 0.5 -2.8 0.4 0.9 4.0 2.3 0.3 Transfer payments to persons........ 60.3 16.7 5.1 6.6 2.0 7.0 1.9 4.4 2.9 3.5 4.1 0.4 5.7 Old-age, survivors, disability, and health insurance benefits... 34.8 7.7 3.9 3.4 1.4 3.1 1.1 1.4 1.5 3.3 -0.2 0.7 5.9 Government unemployment insurance benefits.............. -2.2 0.8 -0.3 -0.1 -0.5 1.3 -0.4 1.0 -0.6 0.0 0.9 -0.2 -1.2 Other............................. 27.5 8.2 1.4 3.4 1.2 2.4 1.4 1.9 2.0 0.1 3.5 -0.2 1.1 Less: Personal contributions for social insurance.................. 15.6 4.9 0.3 0.5 2.4 -1.5 1.7 2.1 -0.2 1.3 1.6 0.1 0.6 Less: Personal tax and nontax 56.0 9.6 0.8 2.0 58.2 -51.1 8.7 10.2 3.3 7.6 9.4 5.0 6.9 payments............................ Equals: Disposable personal income.... 303.0 57.6 10.4 17.2 -15.2 38.0 24.0 22.4 3.1 22.3 29.3 10.1 12.2 Less: Personal outlays................ 259.0 42.6 -10.4 24.8 12.4 40.2 44.1 -8.2 46.3 -10.1 1.3 40.8 38.0 Personal consumption expenditures... 240.7 40.4 -11.0 23.3 11.8 38.4 41.3 -9.6 44.5 -13.6 -0.4 38.6 36.0 Interest paid by persons............ 17.6 2.1 0.6 1.4 0.8 1.9 2.7 0.9 1.8 3.6 1.0 2.2 2.1 Personal transfer payments to the rest of the world (net).......... 0.6 0.1 0.0 0.0 -0.2 0.0 0.0 0.6 0.0 0.0 0.5 0.0 0.0 Equals: Personal saving............... 44.0 15.0 20.8 -7.6 -27.6 -2.2 -20.0 30.5 -43.2 32.3 28.1 -30.7 -25.7 Addendum: Disposable personal income in chained (1992) dollars.......... 159.1 36.8 -0.5 7.1 -26.9 28.6 16.2 11.8 -9.5 18.6 16.3 7.2 2.0 ----------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 3. -- Personal Income and Its Disposition, Change From Preceding Period [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1996 Jan. 96 Feb. 96 Mar. 96 Apr. 96 May 96 June 96 July 96 Aug. 96 Sep. 96 Oct. 96 Nov. 96 Dec. 96 ----------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 344.4 37.0 60.1 24.9 28.7 22.1 65.6 -7.5 34.0 43.1 -6.4 39.6 49.2 Wage and salary disbursements........ 203.0 5.4 46.4 12.2 18.8 16.7 55.3 -20.3 27.3 34.0 -11.1 29.9 40.3 Private industries................ 183.4 1.1 45.2 11.0 17.0 14.8 54.0 -22.2 25.7 31.8 -11.7 29.0 39.6 goods-producing industries 1/... 44.7 -2.4 16.5 -2.9 13.0 4.1 6.3 0.6 6.1 2.0 1.1 4.8 8.7 Manufacturing................. 26.3 -2.8 11.5 -4.4 11.5 2.0 3.8 0.0 4.1 0.4 0.0 2.9 5.7 Distributive industries......... 40.2 -0.9 13.0 5.4 -1.9 4.2 18.0 -11.6 8.1 7.8 -4.8 8.7 8.1 Service industries.............. 98.5 4.4 15.6 8.6 5.9 6.4 29.9 -11.3 11.5 22.0 -8.0 15.5 22.8 Government........................ 19.6 4.1 1.3 1.2 1.9 1.9 1.1 2.0 1.7 2.1 0.6 1.0 0.6 Other labor income.................. 0.8 -2.5 3.5 -0.3 0.4 0.1 4.4 -4.0 1.3 2.0 -3.0 1.5 2.7 Proprietors' income with IVA and CCAdj............................ 31.4 1.1 5.6 3.7 4.5 2.4 0.8 2.3 -0.8 2.2 1.6 1.8 1.4 Farm............................. 13.8 0.4 1.2 1.3 1.9 1.4 1.3 1.6 0.8 0.5 0.1 -0.3 -0.6 Nonfarm.......................... 17.6 0.7 4.5 2.3 2.6 1.0 -0.5 0.7 -1.6 1.8 1.4 2.1 2.1 Rental income of persons with CCAdj............................. 13.5 1.7 1.4 1.2 -0.5 0.3 0.6 1.6 1.3 1.2 0.0 0.0 -0.1 Personal dividend income............ 39.3 22.5 1.2 1.3 0.8 0.6 0.5 0.7 0.6 0.8 1.0 1.3 1.9 Personal interest income............ 16.8 -3.5 0.4 1.1 1.4 2.8 4.0 7.5 4.1 3.2 1.6 2.0 2.0 Transfer payments to persons........ 53.0 13.1 4.4 6.4 4.6 0.2 3.6 3.3 1.8 1.9 2.7 4.8 3.7 Old-age, survivors, disability, and health insurance benefits... 29.8 5.0 4.0 5.0 -0.3 1.3 1.9 1.7 1.8 0.2 1.5 3.9 2.0 Government unemployment insurance benefits.............. 0.6 2.7 -1.1 -0.4 1.1 -2.2 0.4 0.3 -1.5 1.3 -0.4 -0.2 1.2 Other............................. 22.7 5.4 1.5 1.8 3.8 1.0 1.4 1.4 1.4 0.5 1.5 1.2 0.4 Less: Personal contributions for social insurance.................. 13.2 0.6 3.0 0.8 1.2 1.0 3.5 -1.4 1.8 2.1 -0.8 1.9 2.5 Less: Personal tax and nontax 91.8 1.3 14.6 7.9 59.3 -40.6 16.3 0.8 11.1 12.1 0.3 12.3 15.1 payments............................ Equals: Disposable personal income.... 252.6 35.7 45.5 16.9 -30.5 62.7 49.3 -8.3 22.9 31.1 -6.8 27.3 34.1 Less: Personal outlays................ 267.7 -1.4 54.4 3.6 51.6 25.8 -8.4 28.7 9.7 14.0 46.8 20.2 35.7 Personal consumption expenditures... 249.9 -1.7 53.9 3.0 50.3 24.4 -9.9 26.2 9.6 12.4 46.6 17.3 33.7 Interest paid by persons............ 16.7 0.3 0.5 0.7 0.8 1.4 1.5 2.4 0.1 1.6 -0.6 2.9 2.0 Personal transfer payments to the rest of the world (net).......... 1.1 0.0 0.0 0.0 0.4 0.0 0.0 0.1 0.0 0.0 0.8 0.0 0.0 Equals: Personal saving............... -15.0 37.1 -9.0 13.3 -82.1 36.9 57.7 -37.0 13.1 17.2 -53.5 7.0 -1.6 Addendum: Disposable personal income in chained (1992) dollars.......... 112.7 19.5 29.1 2.9 -43.5 49.3 38.2 -23.5 14.7 15.9 -23.1 13.9 21.9 ----------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------- Data for all other periods, except 1992, are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 3. -- Personal Income and Its Disposition, Change From Preceding Period [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates -------------------------------------------------------------------------------------------------------- Jan. 97 Feb. 97 Mar. 97 Apr. 97 May 97 June 97p ----------------------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 35.7 50.2 37.9 12.0 23.3 42.9 Wage and salary disbursements....... 0.4 45.0 22.2 0.8 12.8 32.5 Private industries................ -5.3 42.2 20.8 -0.5 12.0 31.8 Goods-producing industries 1/... 1.1 7.1 5.4 1.5 3.4 2.2 Manufacturing................. 0.1 2.9 5.0 1.1 0.9 1.9 Distributive industries......... -1.2 10.2 6.9 -1.7 2.7 5.8 Service industries.............. -5.3 25.0 8.5 -0.4 6.1 23.7 Government........................ 5.8 2.7 1.5 1.2 0.8 0.8 Other labor income.................. -0.9 2.0 1.4 -0.5 1.7 1.9 Proprietors' income with IVA and CCAdj............................ 2.4 2.3 2.7 3.8 2.3 3.0 Farm............................. -0.5 0.5 1.5 2.2 1.1 0.5 Nonfarm.......................... 2.8 1.8 1.2 1.6 1.2 2.5 Rental income of persons with CCAdj............................. -0.6 0.8 -0.1 -0.2 0.0 -1.3 Personal dividend income............ 13.8 1.8 1.9 1.9 2.0 2.0 Personal interest income............ 2.5 2.7 3.4 3.3 3.1 3.0 Transfer payments to persons........ 20.0 -1.4 7.8 2.7 2.4 3.8 Old-age, survivors, disability, and health insurance benefits... 11.3 -3.9 5.9 0.9 2.4 1.1 Government unemployment insurance benefits.............. -0.2 -0.1 0.0 0.0 0.0 -0.2 Other............................. 8.9 2.6 1.9 1.9 -0.1 2.8 Less: Personal contributions for social insurance.................. 2.0 2.9 1.4 0.0 0.8 2.0 Less: Personal tax and nontax 5.5 15.4 9.3 5.6 8.5 11.2 payments............................ Equals: Disposable personal income.... 30.2 34.9 28.5 6.3 14.9 31.7 Less: Personal outlays................ 60.0 12.6 1.0 4.5 16.6 15.0 Personal consumption expenditures... 60.3 13.0 1.1 3.1 16.5 14.7 Interest paid by persons............ -0.6 -0.5 -0.1 1.1 0.1 0.4 Personal transfer payments to the rest of the world (net).......... 0.3 0.0 0.0 0.4 0.0 0.0 Equals: Personal saving............... -29.8 22.3 27.5 1.8 -1.7 16.7 Addendum: Disposable personal income in chained (1992) dollars.......... 19.3 17.1 22.0 1.2 15.0 21.5 ----------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------- P Preliminary; all other data are revised. IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ Formerly called "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 4. -- Personal Consumption Expenditures by Major Type of Product -------------------------------------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates ----------------------------------------------------------------------------------------------- 1992 1993 Jan. 93 Feb. 93 Mar. 93 Apr. 93 May 93 June 93 July 93 Aug. 93 Sep. 93 Oct. 93 Nov. 93 Dec. 93 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of current dollars ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures..... 4,219.8 4,459.2 4,365.2 4,377.3 4,353.7 4,413.4 4,422.7 4,448.2 4,473.2 4,486.6 4,505.9 4,536.8 4,554.2 4,573.8 Durable goods....................... 488.5 530.2 519.8 501.9 497.4 520.0 525.0 527.6 539.0 535.8 536.8 548.1 553.6 557.6 Nondurable goods.................... 1,321.8 1,370.7 1,359.1 1,361.3 1,342.9 1,365.6 1,366.6 1,366.7 1,372.0 1,372.4 1,377.3 1,385.6 1,387.9 1,390.6 Services............................ 2,409.4 2,558.4 2,486.3 2,514.0 2,513.4 2,527.8 2,531.1 2,554.0 2,562.2 2,578.3 2,591.8 2,603.0 2,612.8 2,625.6 ------------------------------------------------------------------------------------------------------------------------ Billions of chained (1992) dollars ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures..... 4,219.8 4,343.6 4,298.1 4,296.4 4,266.0 4,312.3 4,316.4 4,339.7 4,359.4 4,364.0 4,376.2 4,386.4 4,396.0 4,411.7 Durable goods....................... 488.5 523.8 517.2 499.5 495.4 515.1 520.4 522.3 533.0 528.4 528.2 537.3 542.2 546.8 Nondurable goods.................... 1,321.8 1,351.0 1,346.1 1,342.6 1,323.8 1,345.5 1,347.0 1,350.9 1,355.6 1,354.0 1,360.8 1,360.7 1,361.0 1,363.6 Services............................ 2,409.4 2,468.9 2,435.0 2,454.3 2,446.7 2,451.8 2,449.2 2,466.6 2,471.1 2,481.7 2,487.3 2,488.6 2,493.0 2,501.5 ------------------------------------------------------------------------------------------------------------------------ Implicit price deflators (Index numbers, 1992 = 100) ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures..... 100.00 102.66 101.56 101.88 102.05 102.34 102.46 102.50 102.61 102.81 102.96 103.43 103.60 103.67 Durable goods....................... 100.00 101.22 100.51 100.49 100.40 100.95 100.90 101.00 101.11 101.39 101.63 102.01 102.09 101.97 Nondurable goods.................... 100.00 101.46 100.96 101.39 101.44 101.50 101.45 101.17 101.21 101.37 101.21 101.83 101.98 101.98 Services............................ 100.00 103.62 102.11 102.43 102.73 103.10 103.34 103.54 103.69 103.90 104.20 104.60 104.80 104.96 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Change from preceding period -------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of current dollars ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures..... 244.7 239.4 8.2 12.1 -23.6 59.7 9.3 25.5 25.0 13.4 19.3 30.9 17.4 19.6 Durable goods....................... 33.3 41.7 3.4 -17.9 -4.5 22.6 5.0 2.6 11.4 -3.2 1.0 11.3 5.5 4.0 Nondurable goods.................... 44.2 48.9 4.8 2.2 -18.4 22.7 1.0 0.1 5.3 0.4 4.9 8.3 2.3 2.7 Services............................ 167.1 149.0 0.1 27.7 -0.6 14.4 3.3 22.9 8.2 16.1 13.5 11.2 9.8 12.8 ------------------------------------------------------------------------------------------------------------------------ Billions of chained (1992) dollars ------------------------------------------------------------------------------------------------------------------------ Personal consumption expenditures..... 114.0 123.8 -5.3 -1.7 -30.4 46.3 4.1 23.3 19.7 4.6 12.2 10.2 9.6 15.7 Durable goods....................... 26.5 35.3 0.5 -17.7 -4.1 19.7 5.3 1.9 10.7 -4.6 -0.2 9.1 4.9 4.6 Nondurable goods.................... 18.9 29.2 3.0 -3.5 -18.8 21.7 1.5 3.9 4.7 -1.6 6.8 -0.1 0.3 2.6 Services............................ 68.4 59.5 -8.7 19.3 -7.6 5.1 -2.6 17.4 4.5 10.6 5.6 1.3 4.4 8.5 -------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 4. -- Personal Consumption Expenditures by Major Type of Product ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1994 Jan. 94 Feb. 94 Mar. 94 Apr. 94 May 94 June 94 July 94 Aug. 94 Sep. 94 Oct. 94 Nov. 94 Dec. 94 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,717.0 4,559.6 4,635.8 4,654.4 4,662.8 4,675.3 4,703.5 4,718.0 4,760.9 4,772.9 4,806.4 4,823.2 4,830.9 Durable goods....................... 579.5 550.4 567.2 572.0 578.1 567.5 571.6 576.8 587.0 586.1 595.3 603.1 599.4 Nondurable goods.................... 1,428.4 1,385.1 1,407.7 1,420.2 1,408.4 1,414.3 1,425.2 1,431.3 1,442.5 1,444.6 1,451.3 1,454.1 1,455.7 Services............................ 2,709.1 2,624.0 2,660.9 2,662.1 2,676.4 2,693.5 2,706.6 2,709.9 2,731.4 2,742.2 2,759.8 2,766.1 2,775.9 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,486.0 4,396.8 4,457.8 4,463.6 4,464.1 4,469.4 4,483.2 4,480.8 4,506.2 4,507.6 4,528.2 4,536.1 4,538.0 Durable goods....................... 561.2 539.4 554.9 557.7 563.9 550.5 552.9 556.0 565.3 563.9 573.4 580.0 576.3 Nondurable goods.................... 1,389.9 1,360.4 1,381.8 1,392.8 1,379.9 1,385.6 1,390.9 1,389.5 1,395.1 1,394.9 1,401.3 1,403.5 1,402.6 Services............................ 2,535.5 2,497.2 2,521.5 2,513.9 2,520.8 2,533.5 2,539.7 2,535.7 2,546.4 2,549.3 2,554.2 2,553.6 2,559.9 ---------------------------------------------------------------------------------------------------------------------------- Implicit price deflators (Index numbers, 1992 = 100) ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 105.15 103.70 103.99 104.27 104.45 104.61 104.91 105.29 105.65 105.89 106.14 106.33 106.45 Durable goods....................... 103.27 102.04 102.22 102.57 102.51 103.08 103.39 103.75 103.82 103.95 103.83 103.97 104.01 Nondurable goods.................... 102.77 101.82 101.87 101.97 102.06 102.07 102.47 103.00 103.40 103.57 103.57 103.60 103.79 Services............................ 106.85 105.08 105.53 105.90 106.17 106.31 106.57 106.87 107.27 107.57 108.05 108.32 108.44 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Change from preceding period ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 257.8 -14.2 76.2 18.6 8.4 12.5 28.2 14.5 42.9 12.0 33.5 16.8 7.7 Durable goods....................... 49.3 -7.2 16.8 4.8 6.1 -10.6 4.1 5.2 10.2 -0.9 9.2 7.8 -3.7 Nondurable goods.................... 57.7 -5.5 22.6 12.5 -11.8 5.9 10.9 6.1 11.2 2.1 6.7 2.8 1.6 Services............................ 150.7 -1.6 36.9 1.2 14.3 17.1 13.1 3.3 21.5 10.8 17.6 6.3 9.8 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 142.4 -14.9 61.0 5.8 0.5 5.3 13.8 -2.4 25.4 1.4 20.6 7.9 1.9 Durable goods....................... 37.4 -7.4 15.5 2.8 6.2 -13.4 2.4 3.1 9.3 -1.4 9.5 6.6 -3.7 Nondurable goods.................... 38.9 -3.2 21.4 11.0 -12.9 5.7 5.3 -1.4 5.6 -0.2 6.4 2.2 -0.9 Services............................ 66.6 -4.3 24.3 -7.6 6.9 12.7 6.2 -4.0 10.7 2.9 4.9 -0.6 6.3 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 4. -- Personal Consumption Expenditures by Major Type of Product ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1995 Jan. 95 Feb. 95 Mar. 95 Apr. 95 May 95 June 95 July 95 Aug. 95 Sep. 95 Oct. 95 Nov. 95 Dec. 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,957.7 4,871.3 4,860.3 4,883.6 4,895.4 4,933.8 4,975.1 4,965.5 5,010.0 4,996.4 4,996.0 5,034.6 5,070.6 Durable goods....................... 608.5 604.0 587.3 599.5 588.6 603.4 616.4 608.6 626.4 613.1 608.2 616.8 630.4 Nondurable goods.................... 1,475.8 1,474.1 1,454.6 1,459.2 1,464.7 1,474.5 1,478.0 1,476.6 1,479.7 1,484.9 1,478.8 1,487.6 1,497.1 Services............................ 2,873.4 2,793.2 2,818.4 2,824.8 2,842.1 2,855.9 2,880.7 2,880.3 2,903.9 2,898.4 2,909.1 2,930.3 2,943.1 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,595.3 4,560.0 4,540.2 4,553.7 4,553.0 4,582.4 4,615.1 4,597.9 4,627.6 4,613.2 4,602.9 4,636.5 4,661.0 Durable goods....................... 583.6 579.7 563.0 574.0 562.9 578.6 591.6 584.2 600.5 587.6 583.5 592.8 604.8 Nondurable goods.................... 1,412.6 1,420.5 1,400.5 1,404.0 1,406.1 1,412.9 1,415.7 1,411.8 1,413.1 1,416.9 1,407.8 1,417.6 1,423.7 Services............................ 2,599.6 2,561.0 2,576.7 2,576.1 2,583.9 2,591.3 2,608.3 2,602.2 2,614.8 2,609.2 2,611.6 2,626.4 2,633.4 ---------------------------------------------------------------------------------------------------------------------------- Implicit price deflators (Index numbers, 1992 = 100) ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 107.89 106.83 107.05 107.24 107.52 107.67 107.80 108.00 108.26 108.31 108.54 108.59 108.79 Durable goods....................... 104.27 104.19 104.30 104.45 104.56 104.28 104.19 104.18 104.31 104.34 104.23 104.04 104.24 Nondurable goods.................... 104.48 103.77 103.86 103.93 104.17 104.36 104.40 104.59 104.71 104.80 105.05 104.94 105.16 Services............................ 110.53 109.07 109.38 109.66 109.99 110.21 110.44 110.69 111.06 111.08 111.39 111.57 111.76 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Change from preceding period ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 240.7 40.4 -11.0 23.3 11.8 38.4 41.3 -9.6 44.5 -13.6 -0.4 38.6 36.0 Durable goods....................... 29.0 4.6 -16.7 12.2 -10.9 14.8 13.0 -7.8 17.8 -13.3 -4.9 8.6 13.6 Nondurable goods.................... 47.4 18.4 -19.5 4.6 5.5 9.8 3.5 -1.4 3.1 5.2 -6.1 8.8 9.5 Services............................ 164.3 17.3 25.2 6.4 17.3 13.8 24.8 -0.4 23.6 -5.5 10.7 21.2 12.8 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 109.3 22.0 -19.8 13.5 -0.7 29.4 32.7 -17.2 29.7 -14.4 -10.3 33.6 24.5 Durable goods....................... 22.4 3.4 -16.7 11.0 -11.1 15.7 13.0 -7.4 16.3 -12.9 -4.1 9.3 12.0 Nondurable goods.................... 22.7 17.9 -20.0 3.5 2.1 6.8 2.8 -3.9 1.3 3.8 -9.1 9.8 6.1 Services............................ 64.1 1.1 15.7 -0.6 7.8 7.4 17.0 -6.1 12.6 -5.6 2.4 14.8 7.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 4. -- Personal Consumption Expenditures by Major Type of Product ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Seasonally adjusted at annual rates ---------------------------------------------------------------------------------------------------------- 1996 Jan. 96 Feb. 96 Mar. 96 Apr. 96 May 96 June 96 July 96 Aug. 96 Sep. 96 Oct. 96 Nov. 96 Dec. 96 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 5,207.6 5,068.9 5,122.8 5,125.8 5,176.1 5,200.5 5,190.6 5,216.8 5,226.4 5,238.8 5,285.4 5,302.7 5,336.4 Durable goods....................... 634.5 615.2 638.6 626.3 641.0 644.7 630.1 631.5 641.1 630.7 638.8 638.4 637.4 Nondurable goods.................... 1,534.7 1,498.4 1,511.4 1,514.6 1,531.2 1,534.7 1,530.9 1,536.4 1,533.5 1,545.0 1,557.8 1,558.1 1,564.6 Services............................ 3,038.4 2,955.2 2,972.8 2,984.9 3,003.9 3,021.1 3,029.6 3,048.9 3,051.9 3,063.0 3,088.8 3,106.2 3,134.5 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,714.1 4,647.1 4,684.9 4,676.0 4,707.3 4,722.2 4,707.1 4,716.1 4,719.3 4,719.2 4,745.2 4,751.0 4,773.1 Durable goods....................... 611.1 589.6 612.5 599.8 615.4 621.2 607.6 609.0 618.5 608.0 616.0 617.2 618.2 Nondurable goods.................... 1,432.3 1,416.7 1,427.4 1,423.4 1,431.4 1,432.9 1,430.5 1,432.7 1,431.6 1,437.5 1,443.7 1,439.3 1,440.7 Services............................ 2,671.0 2,640.5 2,646.0 2,652.8 2,661.2 2,669.0 2,669.2 2,674.5 2,670.0 2,673.9 2,686.1 2,694.7 2,714.0 ---------------------------------------------------------------------------------------------------------------------------- Implicit price deflators (Index numbers, 1992 = 100) ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 110.47 109.08 109.35 109.62 109.96 110.13 110.27 110.62 110.75 111.01 111.38 111.61 111.80 Durable goods....................... 103.83 104.34 104.27 104.41 104.16 103.78 103.69 103.69 103.66 103.73 103.70 103.44 103.10 Nondurable goods.................... 107.15 105.77 105.89 106.41 106.97 107.10 107.02 107.24 107.12 107.48 107.90 108.25 108.60 Services............................ 113.76 111.92 112.35 112.52 112.88 113.19 113.50 114.00 114.30 114.55 114.99 115.27 115.49 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Change from preceding period ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 249.9 -1.7 53.9 3.0 50.3 24.4 -9.9 26.2 9.6 12.4 46.6 17.3 33.7 Durable goods....................... 26.0 -15.2 23.4 -12.3 14.7 3.7 -14.6 1.4 9.6 -10.4 8.1 -0.4 -1.0 Nondurable goods.................... 58.9 1.3 13.0 3.2 16.6 3.5 -3.8 5.5 -2.9 11.5 12.8 0.3 6.5 Services............................ 165.0 12.1 17.6 12.1 19.0 17.2 8.5 19.3 3.0 11.1 25.8 17.4 28.3 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 118.8 -13.9 37.8 -8.9 31.3 14.9 -15.1 9.0 3.2 -0.1 26.0 5.8 22.1 Durable goods....................... 27.5 -15.2 22.9 -12.7 15.6 5.8 -13.6 1.4 9.5 -10.5 8.0 1.2 1.0 Nondurable goods.................... 19.7 -7.0 10.7 -4.0 8.0 1.5 -2.4 2.2 -1.1 5.9 6.2 -4.4 1.4 Services............................ 71.4 7.1 5.5 6.8 8.4 7.8 0.2 5.3 -4.5 3.9 12.2 8.6 19.3 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 4. -- Personal Consumption Expenditures by Major Type of Product ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Seasonally adjusted at annual rates --------------------------------------------------------------------------------------------------------------------- Jan. 97 Feb. 97 Mar. 97 Apr. 97 May 97 June 97p ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 5,396.7 5,409.7 5,410.8 5,413.9 5,430.4 5,445.1 Durable goods....................... 661.0 659.8 654.4 642.9 646.4 642.7 Nondurable goods.................... 1,584.5 1,589.0 1,588.6 1,577.0 1,577.7 1,582.1 Services............................ 3,151.1 3,160.9 3,167.8 3,194.0 3,206.3 3,220.3 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 4,819.8 4,818.3 4,816.1 4,814.7 4,831.0 4,837.9 Durable goods....................... 641.2 638.4 633.8 626.0 631.1 628.4 Nondurable goods.................... 1,456.0 1,458.1 1,459.2 1,446.3 1,449.6 1,454.2 Services............................ 2,724.2 2,723.2 2,724.2 2,741.8 2,749.9 2,754.6 ---------------------------------------------------------------------------------------------------------------------------- Implicit price deflators (Index numbers, 1992 = 100) ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 111.97 112.27 112.35 112.44 112.41 112.55 Durable goods....................... 103.10 103.36 103.25 102.70 102.43 102.27 Nondurable goods.................... 108.83 108.97 108.87 109.03 108.83 108.79 Services............................ 115.67 116.07 116.28 116.49 116.60 116.91 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Change from preceding period ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Billions of current dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 60.3 13.0 1.1 3.1 16.5 14.7 Durable goods....................... 23.6 -1.2 -5.4 -11.5 3.5 -3.7 Nondurable goods.................... 19.9 4.5 -0.4 -11.6 0.7 4.4 Services............................ 16.6 9.8 6.9 26.2 12.3 14.0 ---------------------------------------------------------------------------------------------------------------------------- Billions of chained (1992) dollars ---------------------------------------------------------------------------------------------------------------------------- Personal consumption expenditures..... 46.7 -1.5 -2.2 -1.4 16.3 6.9 Durable goods....................... 23.0 -2.8 -4.6 -7.8 5.1 -2.7 Nondurable goods.................... 15.3 2.1 1.1 -12.9 3.3 4.6 Services............................ 10.2 -1.0 1.0 17.6 8.1 4.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- P Preliminary; data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 5. -- Percent Change From Preceding Period in Selected Series -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1992 1993 Jan. 93 Feb. 93 Mar. 93 Apr. 93 May 93 June 93 July 93 Aug. 93 Sep. 93 Oct. 93 Nov. 93 Dec. 93 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Based on current dollars --------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 5.9 4.6 -3.6 0.2 -0.1 2.2 0.6 -0.1 0.1 0.7 0.0 0.4 0.4 3.4 Disposable personal income............ 6.2 4.4 -3.3 0.1 -0.2 2.1 0.6 -0.1 0.1 0.7 -0.0 0.4 0.4 3.2 Personal consumption expenditures..... 6.2 5.7 0.2 0.3 -0.5 1.4 0.2 0.6 0.6 0.3 0.4 0.7 0.4 0.4 Durable goods....................... 7.3 8.5 0.7 -3.4 -0.9 4.5 1.0 0.5 2.2 -0.6 0.2 2.1 1.0 0.7 Nondurable goods.................... 3.5 3.7 0.3 0.2 -1.4 1.7 0.1 0.0 0.4 0.0 0.4 0.6 0.2 0.2 Services............................ 7.5 6.2 0.0 1.1 -0.0 0.6 0.1 0.9 0.3 0.6 0.5 0.4 0.4 0.5 --------------------------------------------------------------------------------------------------------------------------------------- Based on chained (1992) dollars --------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income............ 2.8 1.7 -3.6 -0.2 -0.3 1.8 0.5 -0.2 -0.1 0.5 -0.2 -0.1 0.3 3.1 Personal consumption expenditures..... 2.8 2.9 -0.1 -0.0 -0.7 1.1 0.1 0.5 0.5 0.1 0.3 0.2 0.2 0.4 Durable goods....................... 5.8 7.2 0.1 -3.4 -0.8 4.0 1.0 0.4 2.0 -0.9 -0.0 1.7 0.9 0.8 Nondurable goods.................... 1.5 2.2 0.2 -0.3 -1.4 1.6 0.1 0.3 0.3 -0.1 0.5 -0.0 0.0 0.2 Services............................ 2.9 2.5 -0.4 0.8 -0.3 0.2 -0.1 0.7 0.2 0.4 0.2 0.1 0.2 0.3 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 5. -- Percent Change From Preceding Period in Selected Series -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1994 Jan. 94 Feb. 94 Mar. 94 Apr. 94 May 94 June 94 July 94 Aug. 94 Sep. 94 Oct. 94 Nov. 94 Dec. 94 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Based on current dollars --------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 4.9 -4.0 1.2 0.5 1.4 0.6 0.1 0.5 0.4 0.6 1.0 0.1 0.6 Disposable personal income............ 4.6 -4.0 1.4 0.5 0.3 1.6 0.1 0.5 0.4 0.6 1.0 0.2 0.6 Personal consumption expenditures..... 5.8 -0.3 1.7 0.4 0.2 0.3 0.6 0.3 0.9 0.3 0.7 0.3 0.2 Durable goods....................... 9.3 -1.3 3.1 0.8 1.1 -1.8 0.7 0.9 1.8 -0.1 1.6 1.3 -0.6 Nondurable goods.................... 4.2 -0.4 1.6 0.9 -0.8 0.4 0.8 0.4 0.8 0.1 0.5 0.2 0.1 Services............................ 5.9 -0.1 1.4 0.0 0.5 0.6 0.5 0.1 0.8 0.4 0.6 0.2 0.4 --------------------------------------------------------------------------------------------------------------------------------------- Based on chained (1992) dollars --------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income............ 2.2 -4.0 1.1 0.3 0.2 1.5 -0.2 0.2 0.1 0.4 0.8 -0.0 0.5 Personal consumption expenditures..... 3.3 -0.3 1.4 0.1 0.0 0.1 0.3 -0.1 0.6 0.0 0.5 0.2 0.0 Durable goods....................... 7.1 -1.4 2.9 0.5 1.1 -2.4 0.4 0.6 1.7 -0.3 1.7 1.2 -0.6 Nondurable goods.................... 2.9 -0.2 1.6 0.8 -0.9 0.4 0.4 -0.1 0.4 -0.0 0.5 0.2 -0.1 Services............................ 2.7 -0.2 1.0 -0.3 0.3 0.5 0.2 -0.2 0.4 0.1 0.2 -0.0 0.2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 5. -- Percent Change From Preceding Period in Selected Series -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1995 Jan. 95 Feb. 95 Mar. 95 Apr. 95 May 95 June 95 July 95 Aug. 95 Sep. 95 Oct. 95 Nov. 95 Dec. 95 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Based on current dollars --------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 6.2 1.1 0.2 0.3 0.7 -0.2 0.5 0.5 0.1 0.5 0.6 0.2 0.3 Disposable personal income............ 6.0 1.1 0.2 0.3 -0.3 0.7 0.5 0.4 0.1 0.4 0.5 0.2 0.2 Personal consumption expenditures..... 5.1 0.8 -0.2 0.5 0.2 0.8 0.8 -0.2 0.9 -0.3 -0.0 0.8 0.7 Durable goods....................... 5.0 0.8 -2.8 2.1 -1.8 2.5 2.1 -1.3 2.9 -2.1 -0.8 1.4 2.2 Nondurable goods.................... 3.3 1.3 -1.3 0.3 0.4 0.7 0.2 -0.1 0.2 0.3 -0.4 0.6 0.6 Services............................ 6.1 0.6 0.9 0.2 0.6 0.5 0.9 -0.0 0.8 -0.2 0.4 0.7 0.4 --------------------------------------------------------------------------------------------------------------------------------------- Based on chained (1992) dollars --------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income............ 3.3 0.8 -0.0 0.1 -0.5 0.6 0.3 0.2 -0.2 0.4 0.3 0.1 0.0 Personal consumption expenditures..... 2.4 0.5 -0.4 0.3 -0.0 0.6 0.7 -0.4 0.6 -0.3 -0.2 0.7 0.5 Durable goods....................... 4.0 0.6 -2.9 1.9 -1.9 2.8 2.2 -1.2 2.8 -2.1 -0.7 1.6 2.0 Nondurable goods.................... 1.6 1.3 -1.4 0.3 0.1 0.5 0.2 -0.3 0.1 0.3 -0.6 0.7 0.4 Services............................ 2.5 0.0 0.6 -0.0 0.3 0.3 0.7 -0.2 0.5 -0.2 0.1 0.6 0.3 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 5. -- Percent Change From Preceding Period in Selected Series -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1996 Jan. 96 Feb. 96 Mar. 96 Apr. 96 May 96 June 96 July 96 Aug. 96 Sep. 96 Oct. 96 Nov. 96 Dec. 96 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Based on current dollars --------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 5.6 0.6 1.0 0.4 0.4 0.3 1.0 -0.1 0.5 0.7 -0.1 0.6 0.7 Disposable personal income............ 4.7 0.7 0.8 0.3 -0.6 1.1 0.9 -0.1 0.4 0.6 -0.1 0.5 0.6 Personal consumption expenditures..... 5.0 -0.0 1.1 0.1 1.0 0.5 -0.2 0.5 0.2 0.2 0.9 0.3 0.6 Durable goods....................... 4.3 -2.4 3.8 -1.9 2.3 0.6 -2.3 0.2 1.5 -1.6 1.3 -0.1 -0.2 Nondurable goods.................... 4.0 0.1 0.9 0.2 1.1 0.2 -0.2 0.4 -0.2 0.8 0.8 0.0 0.4 Services............................ 5.7 0.4 0.6 0.4 0.6 0.6 0.3 0.6 0.1 0.4 0.8 0.6 0.9 --------------------------------------------------------------------------------------------------------------------------------------- Based on chained (1992) dollars --------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income............ 2.3 0.4 0.6 0.1 -0.9 1.0 0.8 -0.5 0.3 0.3 -0.5 0.3 0.4 Personal consumption expenditures..... 2.6 -0.3 0.8 -0.2 0.7 0.3 -0.3 0.2 0.1 -0.0 0.6 0.1 0.5 Durable goods....................... 4.7 -2.5 3.9 -2.1 2.6 0.9 -2.2 0.2 1.6 -1.7 1.3 0.2 0.2 Nondurable goods.................... 1.4 -0.5 0.8 -0.3 0.6 0.1 -0.2 0.2 -0.1 0.4 0.4 -0.3 0.1 Services............................ 2.7 0.3 0.2 0.3 0.3 0.3 0.0 0.2 -0.2 0.1 0.5 0.3 0.7 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 5. -- Percent Change From Preceding Period in Selected Series -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Jan. 97 Feb. 97 Mar. 97 Apr. 97 May 97 June 97p -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Based on current dollars --------------------------------------------------------------------------------------------------------------------------------------- Personal income....................... 0.5 0.7 0.6 0.2 0.3 0.6 Disposable personal income............ 0.5 0.6 0.5 0.1 0.3 0.5 Personal consumption expenditures..... 1.1 0.2 0.0 0.1 0.3 0.3 Durable goods....................... 3.7 -0.2 -0.8 -1.8 0.5 -0.6 Nondurable goods.................... 1.3 0.3 -0.0 -0.7 0.0 0.3 Services............................ 0.5 0.3 0.2 0.8 0.4 0.4 --------------------------------------------------------------------------------------------------------------------------------------- Based on chained (1992) dollars --------------------------------------------------------------------------------------------------------------------------------------- Disposable personal income............ 0.4 0.3 0.4 0.0 0.3 0.4 Personal consumption expenditures..... 1.0 -0.0 -0.0 -0.0 0.3 0.1 Durable goods....................... 3.7 -0.4 -0.7 -1.2 0.8 -0.4 Nondurable goods.................... 1.1 0.1 0.1 -0.9 0.2 0.3 Services............................ 0.4 -0.0 0.0 0.6 0.3 0.2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Data for all other periods, except 1992, are revised. Source: U.S. Department of Commerce, Bureau of Economic Analysis. Table 6--Revisions to Personal income and its Disposition (Billions of dollars, saar, unless otherwise noted) Revised Revision Revision to percent change 1993 1994 1995 1996 1993 1994 1995 1996 1993 1994 1995 1996 Personal income......... 1 5,519.2 5,791.8 6,150.8 6,495.2 23.6 29.8 38.4 45.7 0.4 0.1 0.1 0.1 Wages and salary disbursements 2 3,089.6 3,240.7 3,429.5 3,632.5 -1.1 -1.1 -1.1 2.4 -0.0 0.0 0.0 0.1 Private wages and salaries. 3. 2,505.3 2,638.5 2,806.5 2,989.9 -1.1 -0.8 -2.3 1.0 -0.0 0.0 -0.1 0.1 Goods-producing industries 41/ 781.2 824.4 864.4 909.1 -0.1 -0.5 0.8 6.4 -0.0 -0.1 0.2 0.6 Manufacturing.......... 5 592.9 620.8 648.4 674.7 -0.2 -0.3 0.0 2.2 -0.0 -0.0 0.1 0.3 Distributive industries.. 6 699.4 741.4 783.1 823.3 1.0 2.2 -0.6 -4.6 0.1 0.2 -0.4 -0.5 Service industries....... 7 1,024.7 1,072.7 1,159.0 1,257.5 -2.0 -2.5 -2.6 -0.8 -0.2 -0.0 0.0 0.2 Government................. 8 584.3 602.2 623.0 642.6 0.1 -0.3 1.3 1.4 0.0 -0.1 0.3 0.0 Other labor income............ 9 385.1 405.0 406.8 407.6 4.2 2.8 -17.2 -28.6 1.2 -0.4 -5.0 -2.7 Proprietors' income with IVA and CC 450.8 471.6 488.9 520.3 14.9 7.2 2.8 -7.0 3.5 -1.9 -1.0 -2.1 Farm........................11 32.4 36.9 23.4 37.2 1.3 2.6 -4.5 -7.5 3.5 3.6 -17.9 -1.2 Nonfarm.....................12 418.4 434.7 465.5 483.1 13.6 4.7 7.3 0.5 3.5 -2.3 0.5 -1.5 Rental income with CCAdj......13 105.7 124.4 132.8 146.3 3.5 12.3 21.1 31.3 4.4 8.0 7.1 7.2 Personal dividend income......14 185.3 204.8 251.9 291.2 -1.5 5.2 37.1 60.6 -0.9 3.7 15.4 8.2 Personal interest income......15 651.0 668.1 718.9 735.7 2.9 4.4 1.8 -2.5 0.4 0.2 -0.4 -0.6 Transfer payments to persons..16 912.0 954.7 1,015.0 1,068.0 1.3 -1.6 -7.6 -11.7 0.2 -0.3 -0.6 -0.4 Old-age, survivors, disability, and health insurance benefits.. 444.4 473.0 507.8 537.6 0.0 0.1 0.4 -1.5 0.0 0.0 0.1 -0.4 Unemployment insurance......18 34.0 23.6 21.4 22.0 0.0 -0.1 -0.2 -0.1 0.0 -0.3 -0.5 0.5 Other.......................19. 433.5 458.2 485.7 508.4 1.2 -1.5 -7.9 -10.2 0.3 -0.6 -1.4 -0.4 Less: Personal contributions for social insurance..............20 260.3 277.5 293.1 306.3 0.7 -0.6 -1.4 -1.2 0.3 -0.5 -0.3 0.1 Less: Personal tax and nontax payments 690.0 739.1 795.1 886.9 0.1 7.7 0.8 23.1 0.0 1.1 -1.0 2.8 Equals:Disposable personal income(DPI) 4,829.2 5,052.7 5,355.7 5,608.3 23.5 22.1 37.6 22.6 0.5 -0.0 0.3 -0.3 Less: Personal outlays.........23 4,580.7 4,842.1 5,101.1 5,368.8 4.9 9.8 29.6 54.8 0.1 0.1 0.4 0.5 Personal consumption expenditures 4,459.2 4,717.0 4,957.7 5,207.6 5.1 16.1 32.8 56.2 0.1 0.2 0.3 0.4 Durable goods..........25 530.2 579.5 608.5 634.5 -0.5 -1.4 2.1 2.4 -0.1 -0.2 0.6 0.0 Nondurable goods.......26 1,370.7 1,428.4 1,475.8 1,534.7 1.8 -1.3 -10.1 -10.4 0.1 -0.2 -0.6 0.0 Services...............27 2,558.4 2,709.1 2,873.4 3,038.4 3.8 18.8 40.8 64.1 0.2 0.6 0.8 0.7 Interest paid by persons.28 108.2 110.9 128.5 145.2 -0.7 -6.3 -3.2 -1.1 -0.6 -5.1 3.5 1.9 Personal transfer payments to the rest of the world (net)29... 13.3 14.2 14.8 15.9 0.5 0.0 -0.1 -0.4 5.2 -4.2 -0.7 -2.0 Equals: Personal saving........30 248.5 210.6 254.6 239.6 18.6 12.3 8.0 -32.0 6.5 -1.5 -3.5 -16.0 Addenda: DPI in chained (1992) dollars.31 4,703.9 4,805.1 4,964.2 5,076.9 21.9 18.3 20.9 -9.1 0.5 -0.1 0.0 -0.6 Per capita DPI: Current dollars.............32 18,706 19,381 20,349 21,117 91 83 135 78 0.5 -0.1 0.2 -0.3 Chained (1992) dollars......33 18,221 18,431 18,861 19,116 85 69 72 -41 0.5 -0.1 0.0 -0.6 Population (mid-period, 1,000s34 258,161 260,705 263,194 265,579 2 25 105 97 0.0 0.0 0.0 0.0 Personal saving as a percentage of disposable personal income..35 5.1 4.2 4.8 4.3 0.3 0.3 0.2 -0.6 ... ... ... ... IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1/ This line previously titled "Commodity-producing industries." Source: U.S. Department of Commerce, Bureau of Economic Analysis. 7-31-97 1:59