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Personal Income and Outlays, September 2011

Wed, 11/02/2011 - 4:22am
U.S. Bureau of Economic Analysis

Personal income increased $17.3 billion, or 0.1 percent, and disposable personal income (DPI) increased $12.9 billion, or 0.1 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $68.7 billion, or 0.6 percent. In August, personal income decreased $13.6 billion, or 0.1 percent, DPI decreased $12.8 billion, or 0.1 percent, and PCE increased $24.2 billion, or 0.2 percent, based on revised estimates. Real disposable income decreased 0.1 percent in September, compared with a decrease of 0.4 percent in August. Real PCE increased 0.5 percent, compared with a decrease of less than 0.1 percent. 2011 May June July Aug. Sept. (Percent change from preceding month) Personal income, current dollars 0.3 0.2 0.1 -0.1 0.1 Disposable personal income: Current dollars 0.2 0.1 0.0 -0.1 0.1 Chained (2005) dollars 0.0 0.3 -0.3 -0.4 -0.1 Personal consumption expenditures: Current dollars 0.2 -0.2 0.9 0.2 0.6 Chained (2005) dollars 0.0 -0.1 0.5 0.0 0.5 Wages and salaries Private wage and salary disbursements increased $17.9 billion in September, in contrast to a decrease of $9.8 billion in August. Goods-producing industries' payrolls increased $1.6 billion, in contrast to a decrease of $3.5 billion; manufacturing payrolls decreased $1.1 billion, compared with a decrease of $4.3 billion. Services-producing industries' payrolls increased $16.3 billion, in contrast to a decrease of $6.3 billion. Government wage and salary disbursements decreased $0.7 billion, in contrast to an increase of $1.3 billion. Other personal income Supplements to wages and salaries increased $2.9 billion in September, compared with an increase of $1.5 billion in August. Proprietors' income increased $2.3 billion in September, compared with an increase of $8.4 billion in August. Farm proprietors' income increased $1.3 billion, compared with an increase of $1.2 billion. Nonfarm proprietors' income increased $1.0 billion, compared with an increase of $7.1 billion. Rental income of persons increased $5.8 billion in September, compared with an increase of $5.6 billion in August. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $9.2 billion, compared with a decrease of $11.5 billion. Personal current transfer receipts increased $0.6 billion in September, in contrast to a decrease of $9.7 billion in August. Government social benefits to persons for Medicaid decreased $5.3 billion, compared with a decrease of $14.2 billion. Contributions for government social insurance -- a subtraction in calculating personal income -- increased $2.2 billion in September, in contrast to a decrease of $0.7 billion in August. Personal current taxes and disposable personal income Personal current taxes increased $4.5 billion in September, in contrast to a decrease of $0.8 billion in August. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $12.9 billion, or 0.1 percent, in September, in contrast to a decrease of $12.8 billion, or 0.1 percent in August. Personal outlays and personal saving Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $72.1 billion in September, compared with an increase of $27.6 billion in August. PCE increased $68.7 billion, compared with an increase of $24.2 billion. Personal saving -- DPI less personal outlays -- was $419.8 billion in September, compared with $479.1 billion in August. Personal saving as a percentage of disposable personal income was 3.6 percent in September, compared with 4.1 percent in August. For a comparison of personal saving in BEA?s national income and product accounts with personal saving in the Federal Reserve Board?s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp. Real DPI, real PCE and price index Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in September, compared with a decrease of 0.4 percent in August. Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in September, in contrast to a decrease of less than 0.1 percent in August. Purchases of durable goods increased 2.6 percent, in contrast to a decrease of 1.0 percent. Purchases of motor vehicles and parts accounted for more than half of the increase in September, and more than accounted for the decrease in August. Purchases of nondurable goods increased 0.5 percent in September, in contrast to a decrease of 0.1 percent in August. Purchases of services increased 0.1 percent, the same increase as in August. PCE price index -- The price index for PCE increased 0.2 percent in September, compared with an increase of 0.3 percent in August. The PCE price index, excluding food and energy, decreased less than 0.1 percent, in contrast to an increase of 0.2 percent. Revisions Estimates have been revised for July and August. Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for July and August -- revised and as published in last month's release -- are shown below. Change from preceding month July August Previous Revised Previous Revised Previous Revised Previous Revised (Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income: Current dollars 17.1 6.9 0.1 0.1 -7.3 -13.6 -0.1 -0.1 Disposable personal income: Current dollars 14.4 3.1 0.1 0.0 -5.0 -12.8 0.0 -0.1 Chained (2005) dollars -24.7 -35.6 -0.2 -0.3 -29.2 -38.1 -0.3 -0.4 Personal consumption expenditures: Current dollars 76.6 96.0 0.7 0.9 22.7 24.2 0.2 0.2 Chained (2005) dollars 32.8 48.9 0.4 0.5 -3.0 -3.8 0.0 0.0 BEA?s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA?s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Next release ? November 23, 2011 at 8:30 A.M. EST for Personal Income and Outlays for October Release Dates for 2012 December 2011...January 30 April 2012..June 1 August 2012.....September 28 January 2012....March 1 May 2012 ...June 29 September 2012..October 29 February 2012...March 30 June 2012...July 31 October 2012....November 30 March 2012......April 30 July 2012...August 30 November 2012...December 21 ________________________ NOTE. - - Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. ?Real? estimates are in chained (2005) dollars.

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