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美国失业率

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 (2009) dollars.

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, WEDNESDAY, JUNE 29, 2016 BEA 16-33

Technical: James Rankin 301.278.9087 (Personal Income)

piniwd@https://www.wendangku.net/doc/b715634441.html, Harvey Davis 301.278.9086 (Personal Consumption Expenditures) pce@https://www.wendangku.net/doc/b715634441.html,

Media: Jeannine Aversa 301.278.9003 Jeannine.Aversa@https://www.wendangku.net/doc/b715634441.html,

PERSONAL INCOME AND OUTLAYS: MAY 2016

Personal income increased $37.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $33.9 billion, or 0.2 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $53.5 billion, or 0.4 percent. In April, personal income increased $75.4 billion, or 0.5 percent, DPI increased $68.6 billion, or 0.5 percent, and PCE increased $141.2 billion, or 1.1 percent, based on revised estimates.

Real DPI increased 0.1 percent in May, compared with an increase of 0.2 percent in April. Real PCE increased 0.3 percent, compared with an increase of 0.8 percent.

2016

Jan. Feb. Mar. Apr. May

(Percent change from preceding month) Personal income, current dollars 0.4 0.1 0.3 0.5 0.2

Disposable personal income: Current dollars

0.6 0.1 0.3 0.5 0.2 Chained (2009) dollars

0.4 0.2 0.3 0.2 0.1 Personal consumption expenditures:

Current dollars

0.1 0.2 0.0 1.1 0.4 Chained (2009) dollars

0.0

0.3 -0.1 0.8

0.3

Compensation

Wages and salaries increased $14.7 billion in May, compared with an increase of $40.4 billion in April. Private wages and salaries increased $11.8 billion, compared with an increase of $38.7 billion. Government wages and salaries increased $2.9 billion, compared with an increase of $1.6 billion.

Supplements to wages and salaries increased $4.6 billion in May, compared with an increase of $6.0 billion in April.

Other personal income

Proprietors' income increased $1.2 billion in May, compared with an increase of $10.0 billion in April. Farm proprietors' income increased $1.0 billion, the same increase as in April. Nonfarm proprietors' income increased $0.1 billion in May, compared with an increase of $9.0 billion in April.

Rental income of persons increased $3.7 billion in May, compared with an increase of $3.3 billion in April. Personal income receipts on assets (personal interest income plus personal dividend income) increased $9.7 billion, compared with an increase of $8.5 billion.

Personal current transfer receipts increased $4.8 billion in May, compared with an increase of $12.2 billion in April.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $1.6 billion in May, compared with an increase of $4.8 billion in April.

Personal current taxes and disposable personal income

Personal current taxes increased $3.1 billion in May, compared with an increase of $6.8 billion in April. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $33.9 billion, or 0.2 percent, compared with an increase of $68.6 billion, or 0.5 percent.

Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $57.0 billion in May, compared with an increase of $144.6 billion in April. PCE increased $53.5 billion, compared with an increase of $141.2 billion.

Personal saving -- DPI less personal outlays -- was $730.6 billion in May, compared with $753.7 billion in April. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.3 percent, compared with 5.4 percent. For a comparison of personal saving in BEA's national income and product accounts with personal saving in the Federal Reserve Board's Financial Accounts of the United States and data on changes in net worth, go to

https://www.wendangku.net/doc/b715634441.html,/national/nipaweb/nipa-frb.asp.

Real DPI, real PCE, and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.1 percent in May, compared with

an increase of 0.2 percent in April.

Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in May, compared with

an increase of 0.8 percent in April. Purchases of durable goods increased 0.6 percent, compared with an increase of 2.6 percent. Purchases of nondurable goods increased 0.5 percent, compared with an

increase of 1.0 percent. Purchases of services increased 0.1 percent, compared with an increase of 0.5 percent.

The price index for PCE increased 0.2 percent in May, compared with an increase of 0.3 percent in April. The PCE price index, excluding food and energy, increased 0.2 percent, the same increase as in

April.

The May PCE price index increased 0.9 percent from May a year ago. The May PCE price index, excluding food and energy, increased 1.6 percent from May a year ago.

Revisions

Estimates have been revised for January through April. Changes in personal income, in current-

dollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for March and

for April -- revised and as published in last month's release -- are shown below.

Change from preceding month

March April

Previous Revised Previous Revised Previous Revised Previous Revised

(Billions of dollars) (Percent) (Billions of dollars) (Percent) Personal income:

Current dollars 56.7 54.3 0.4 0.3 69.8 75.4 0.4 0.5 Disposable personal

income:

Current dollars 49.6 48.1 0.4 0.3 63.5 68.6 0.5 0.5 Chained (2009) dollars 37.6 35.8 0.3 0.3 19.2 23.9 0.2 0.2 Personal consumption

expenditures:

Current dollars 3.7 -0.3 0.0 0.0 119.2 141.2 1.0 1.1 Chained (2009) dollars -3.5 -7.5 0.0 -0.1 73.3 93.3 0.6 0.8

Upcoming Annual Revision of the National Income and Product Accounts

As part of the annual revision of the national income and product accounts (NIPAs), revised estimates of personal income and outlays will be released in conjunction with preliminary estimates for June 2016 on August 2, 2016. This regular revision of the estimates will cover the most recent 3 years and the first 5 months of 2016. For more information, see “Preview of the Upcoming Annual NIPA Revision” included in the May Survey of Current Business article on “GDP and the Economy”.

BEA's national, international, regional, and industry estimates; BEA news releases; and related articles in the Survey of Current Business are available for free on BEA's Web site at https://www.wendangku.net/doc/b715634441.html,. The entire historical time series for these estimates can be accessed in BEA's Interactive Data Application at https://www.wendangku.net/doc/b715634441.html,/itable/. Stay informed about BEA developments by signing up for our email subscription service or following us on Twitter @BEA_News. You also can access BEA data by registering for our Data Application Programming Interface, or API at https://www.wendangku.net/doc/b715634441.html,/API/signup/index.cfm.

BEA's news release schedule is available at https://www.wendangku.net/doc/b715634441.html,/newsreleases/news_release_sort_national.htm

* * *

Next release – August 2, 2016 at 8:30 A.M. EDT

Personal Income and Outlays for June

Table 1. Personal Income and Its Disposition (Months)

[Billions of dollars]

Line

Seasonally adjusted at annual rates

Line 20152016

Oct.Nov.Dec.Jan.r Feb.r March r April r May p

1Personal income...................................................................................15,547.115,605.115,654.215,714.615,730.015,784.315,859.715,896.71 2Compensation of employees............................................................9,799.09,866.39,895.99,947.79,951.19,982.710,029.010,048.32 3Wages and salaries........................................................................7,947.78,007.28,031.58,077.18,077.28,103.78,144.18,158.73 4Private industries...........................................................................6,670.66,727.96,749.86,789.76,786.56,810.06,848.76,860.54 5Goods-producing industries.......................................................1,324.21,346.31,337.91,347.51,344.51,348.01,356.91,361.65 6Manufacturing.........................................................................813.4830.4821.7829.1827.3827.8835.4838.36 7Services-producing industries....................................................5,346.45,381.65,411.95,442.25,441.95,462.05,491.85,498.97 8Trade, transportation, and utilities...........................................1,256.21,263.21,268.41,270.81,271.61,275.11,281.21,278.68 9Other services-producing industries.......................................4,090.24,118.54,143.54,171.54,170.44,186.94,210.64,220.39 10Government...................................................................................1,277.01,279.21,281.71,287.41,290.71,293.71,295.31,298.210 11Supplements to wages and salaries.............................................1,851.31,859.11,864.41,870.61,873.91,879.01,885.01,889.611 12Employer contributions for employee pension and insurance

funds1.........................................................................................1,277.61,281.51,285.71,289.51,293.51,297.41,301.11,305.012 13Employer contributions for government social insurance..............573.7577.6578.8581.0580.4581.6583.9584.613 14Proprietors’ income with inventory valuation and capital

consumption adjustments.............................................................1,407.01,401.01,412.31,413.61,411.91,410.81,420.81,422.014 15Farm.................................................................................................62.557.151.650.148.647.148.149.115 16Nonfarm............................................................................................1,344.51,343.91,360.61,363.41,363.31,363.71,372.71,372.816 17Rental income of persons with capital consumption adjustment.668.4671.6675.3679.7685.0690.6693.9697.617 18Personal income receipts on assets................................................2,202.32,196.52,187.02,193.42,189.02,202.12,210.62,220.418 19Personal interest income..................................................................1,327.71,318.31,309.01,314.41,319.81,325.21,327.71,330.319 20Personal dividend income................................................................874.6878.2878.0879.0869.2877.0882.9890.020 21Personal current transfer receipts...................................................2,687.82,694.82,711.52,717.22,729.42,737.22,749.42,754.221 22Government social benefits to persons............................................2,644.02,650.82,667.32,672.92,684.92,692.52,704.52,709.122 23Social security2..............................................................................877.6878.2889.3884.7887.0886.9894.9894.523 24Medicare3......................................................................................628.4631.5634.5637.6640.6643.4646.1648.624 25Medicaid........................................................................................544.4545.3549.2548.8550.4552.6557.6560.625 26Unemployment insurance..............................................................31.732.232.632.732.632.031.131.326 27Veterans’ benefits..........................................................................96.298.498.798.098.499.399.499.027 28Other.............................................................................................465.6465.4463.0471.1475.8478.4475.4475.228 29Other current transfer receipts, from business (net).........................43.844.044.244.344.544.744.945.129 30Less: Contributions for government social insurance, domestic.1,217.41,225.01,227.81,237.01,236.41,239.31,244.11,245.830 31Less: Personal current taxes...............................................................1,980.51,996.52,004.11,988.61,989.51,995.82,002.52,005.731 32Equals: Disposable personal income.................................................13,566.513,608.613,650.113,726.013,740.413,788.513,857.113,891.132 33Less: Personal outlays.........................................................................12,854.112,907.512,929.812,944.112,961.912,958.813,103.413,160.433 34Personal consumption expenditures....................................................12,405.512,455.012,473.412,484.512,505.012,504.712,645.912,699.434 35Goods...............................................................................................4,005.34,027.54,001.73,982.93,961.03,969.34,050.14,070.935 36Durable goods...............................................................................1,339.01,353.91,347.81,336.21,340.51,338.21,373.31,378.136 37Nondurable goods.........................................................................2,666.32,673.62,653.92,646.62,620.52,631.22,676.92,692.937 38Services............................................................................................8,400.28,427.58,471.78,501.68,543.98,535.48,595.88,628.538 39Personal interest payments4................................................................270.6274.1277.6274.8271.9269.1272.4275.639 40Personal current transfer payments.....................................................178.0178.3178.7184.9185.0185.0185.1185.440 41To government..................................................................................98.398.699.0103.7103.8103.8104.0104.241 42To the rest of the world (net).............................................................79.779.779.781.281.281.281.281.242 43Equals: Personal saving.......................................................................712.5701.2720.3781.9778.5829.7753.7730.643 44Personal saving as a percentage of disposable personal income 5.3 5.2 5.3 5.7 5.7 6.0 5.4 5.344 Addenda:

45Personal income excluding current transfer receipts, billions of

chained (2009) dollars5..................................................................11,714.711,746.611,785.811,822.611,836.311,871.011,892.111,901.545 Disposable personal income:

46Total, billions of chained (2009) dollars5...........................................12,359.012,381.912,430.012,485.412,509.912,545.712,569.612,579.346 Per capita:

47Current dollars...............................................................................42,06942,17242,27442,48542,50942,63442,82242,90047 48Chained (2009) dollars..................................................................38,32438,37038,49538,64538,70238,79138,84338,84948 49Population (midperiod, thousands)6.....................................................322,484322,697322,897323,076323,238323,413323,601323,80449

p Preliminary

r Revised

Table 2. Personal Income and Its Disposition (Years and Quarters)

[Billions of dollars]

Line20142015

Seasonally adjusted at annual rates

Line 201420152016

IV I II III IV I r

1Personal income....................................................................................14,694.215,350.714,955.715,079.815,277.015,443.715,602.115,742.91 2Compensation of employees............................................................9,248.99,666.69,424.99,487.99,615.29,709.59,853.79,960.52 3Wages and salaries.........................................................................7,477.87,834.97,632.67,682.47,791.87,870.07,995.48,086.03 4Private industries...........................................................................6,240.56,566.16,384.46,425.96,526.76,595.86,716.16,795.44 5Goods-producing industries........................................................1,260.91,309.71,292.91,288.01,303.21,311.51,336.21,346.75 6Manufacturing.........................................................................780.9804.9796.5792.1801.7804.1821.8828.16 7Services-producing industries....................................................4,979.75,256.45,091.55,138.05,223.55,284.25,380.05,448.77 8Trade, transportation, and utilities...........................................1,175.51,236.51,203.31,210.91,229.11,243.51,262.61,272.58 9Other services-producing industries........................................3,804.24,019.93,888.23,927.03,994.44,040.84,117.44,176.29 10Government...................................................................................1,237.21,268.81,248.21,256.51,265.01,274.21,279.31,290.610 11Supplements to wages and salaries.............................................1,771.21,831.71,792.31,805.51,823.41,839.51,858.31,874.511 12Employer contributions for employee pension and insurance

funds1.........................................................................................1,224.01,264.31,236.31,246.81,258.31,270.31,281.61,293.512 13Employer contributions for government social insurance..............547.2567.4556.0558.7565.0569.2576.7581.013 14Proprietors’ income with inventory valuation and capital

consumption adjustments.............................................................1,346.71,388.31,377.91,369.41,377.01,400.11,406.71,412.114 15Farm..................................................................................................78.159.974.860.556.965.257.148.615 16Nonfarm............................................................................................1,268.61,328.41,303.01,308.91,320.11,334.91,349.71,363.516 17Rental income of persons with capital consumption adjustment.610.8656.6628.4637.0654.1663.6671.7685.117 18Personal income receipts on assets................................................2,117.52,180.52,130.62,145.52,178.32,202.82,195.32,194.918 19Personal interest income...................................................................1,302.01,312.31,289.81,282.61,313.41,335.01,318.31,319.819 20Personal dividend income.................................................................815.5868.2840.8863.0864.9867.8876.9875.120 21Personal current transfer receipts....................................................2,529.22,662.72,571.02,625.82,651.32,675.72,698.02,727.921 22Government social benefits to persons.............................................2,487.22,619.52,528.92,583.42,608.42,632.22,654.02,683.422 23Social security2..............................................................................834.6871.8843.8861.6869.4874.5881.7886.223 24Medicare3......................................................................................597.8619.8605.3609.8615.3622.5631.4640.524 25Medicaid........................................................................................487.4534.9507.1523.9529.0540.4546.3550.625 26Unemployment insurance..............................................................35.833.332.935.033.132.932.232.426 27Veterans’ benefits..........................................................................83.794.486.790.794.195.197.898.627 28Other..............................................................................................447.9465.3453.3462.2467.5466.9464.7475.128 29Other current transfer receipts, from business (net).........................42.043.242.142.442.943.444.044.529 30Less: Contributions for government social insurance, domestic.1,159.01,204.01,177.21,185.81,198.91,207.91,223.41,237.630 31Less: Personal current taxes................................................................1,780.21,947.41,838.81,900.11,938.71,957.31,993.71,991.331 32Equals: Disposable personal income..................................................12,913.913,403.213,116.813,179.813,338.313,486.413,608.413,751.732 33Less: Personal outlays..........................................................................12,293.712,717.512,502.512,492.212,674.512,806.212,897.112,954.933 34Personal consumption expenditures....................................................11,865.912,271.912,061.412,055.512,228.412,359.012,444.712,498.134 35Goods................................................................................................3,948.43,978.83,980.13,901.53,978.14,024.14,011.53,971.135 36Durable goods...............................................................................1,280.21,328.71,303.51,301.81,326.41,339.61,346.91,338.336 37Nondurable goods.........................................................................2,668.22,650.12,676.62,599.72,651.82,684.42,664.62,632.837 38Services............................................................................................7,917.58,293.18,081.38,153.98,250.28,334.98,433.18,527.038 39Personal interest payments4................................................................254.2268.5263.1261.3269.3269.4274.1271.939 40Personal current transfer payments.....................................................173.6177.1178.0175.5176.8177.8178.3185.040 41To government..................................................................................95.397.795.997.097.297.898.7103.841 42To the rest of the world (net).............................................................78.379.482.278.579.680.079.781.242 43Equals: Personal saving.......................................................................620.2685.7614.3687.6663.9680.2711.3796.743 44Personal saving as a percentage of disposable personal income 4.8 5.1 4.7 5.2 5.0 5.0 5.2 5.844 Addenda:

45Personal income excluding current transfer receipts, billions of

chained (2009) dollars5...................................................................11,149.811,593.511,329.011,447.611,542.211,635.111,749.011,843.345 Disposable personal income:

46Total, billions of chained (2009) dollars5...........................................11,836.312,247.111,998.712,114.712,193.612,289.812,390.312,513.746 Per capita:

47Current dollars...............................................................................40,45341,66340,96241,08841,50941,88142,17142,54347 48Chained (2009) dollars..................................................................37,07738,06937,47037,76737,94738,16538,39738,71348 49Population (midperiod, thousands)6.....................................................319,233321,704320,222320,771321,337322,015322,693323,24249

r Revised

1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period.

2. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.

3. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.

Table 3. Personal Income and Its Disposition, Change From Preceding Period (Months)

[Billions of dollars]

Line

Seasonally adjusted at annual rates

Line 20152016

Oct.Nov.Dec.Jan.r Feb.r March r April r May p

1Personal income.......................................................................................74.258.149.060.415.454.375.437.11 2Compensation of employees...............................................................80.567.329.751.7 3.431.646.319.32 3Wages and salaries............................................................................72.359.524.345.60.126.540.414.73 4Private industries..............................................................................71.057.321.939.9–3.223.538.711.84 5Goods-producing industries..........................................................17.022.1–8.39.6–3.0 3.49.0 4.75 6Manufacturing............................................................................12.217.0–8.67.4–1.80.57.6 2.96 7Services-producing industries.......................................................54.035.330.230.3–0.320.129.77.27 8Trade, transportation, and utilities..............................................9.57.0 5.2 2.40.8 3.5 6.0–2.58 9Other services-producing industries...........................................44.528.225.127.9–1.116.623.79.79 10Government...................................................................................... 1.3 2.2 2.4 5.7 3.4 3.0 1.6 2.910 11Supplements to wages and salaries................................................8.27.7 5.3 6.1 3.3 5.1 6.0 4.611 12Employer contributions for employee pension and insurance

funds1............................................................................................ 3.7 3.9 4.1 3.9 3.9 3.9 3.7 3.912 13Employer contributions for government social insurance................. 4.5 3.9 1.2 2.3–0.6 1.2 2.20.713 14Proprietors’ income with inventory valuation and capital

consumption adjustments................................................................ 2.8–6.011.3 1.3–1.7–1.010.0 1.214 15Farm.....................................................................................................–5.5–5.5–5.5–1.5–1.5–1.5 1.0 1.015 16Nonfarm...............................................................................................8.3–0.616.7 2.8–0.20.59.00.116 17Rental income of persons with capital consumption adjustment.... 2.6 3.2 3.7 4.5 5.3 5.6 3.3 3.717 18Personal income receipts on assets...................................................–6.8–5.8–9.5 6.4–4.413.18.59.718 19Personal interest income.....................................................................–9.3–9.3–9.3 5.4 5.4 5.4 2.6 2.619 20Personal dividend income.................................................................... 2.6 3.5–0.2 1.0–9.87.8 5.97.220 21Personal current transfer receipts...................................................... 4.27.116.7 5.712.27.912.2 4.821 22Government social benefits to persons................................................ 4.0 6.916.5 5.612.07.712.0 4.622 23Social security2................................................................................. 2.20.611.1–4.6 2.3–0.28.0–0.423 24Medicare3......................................................................................... 3.2 3.1 3.0 3.1 3.0 2.8 2.7 2.524 25Medicaid...........................................................................................–0.20.8 3.9–0.5 1.6 2.2 5.0 3.025 26Unemployment insurance.................................................................–0.90.50.50.1–0.1–0.7–0.80.126 27Veterans’ benefits.............................................................................0.7 2.20.4–0.80.40.90.1–0.427 28Other.................................................................................................–1.1–0.3–2.48.2 4.7 2.6–3.0–0.228 29Other current transfer receipts, from business (net)............................0.20.20.20.10.20.20.20.229 30Less: Contributions for government social insurance, domestic....9.27.6 2.89.2–0.6 2.9 4.8 1.630 31Less: Personal current taxes..................................................................21.716.07.6–15.6 1.0 6.2 6.8 3.131 32Equals: Disposable personal income.....................................................52.542.141.475.914.548.168.633.932 33Less: Personal outlays............................................................................22.253.422.314.417.8–3.1144.657.033 34Personal consumption expenditures.......................................................18.849.518.411.020.5–0.3141.253.534 35Goods..................................................................................................–7.422.2–25.8–18.9–21.88.380.820.835 36Durable goods..................................................................................–6.314.9–6.1–11.6 4.3–2.435.1 4.836 37Nondurable goods............................................................................–1.17.3–19.7–7.3–26.110.645.716.037 38Services...............................................................................................26.227.344.229.942.3–8.660.432.738 39Personal interest payments4................................................................... 3.5 3.5 3.5–2.8–2.8–2.8 3.3 3.339 40Personal current transfer payments........................................................–0.10.30.4 6.20.10.00.10.340 41To government.....................................................................................0.30.30.4 4.70.10.00.10.341 42To the rest of the world (net)................................................................–0.30.00.0 1.50.00.00.00.042 43Equals: Personal saving..........................................................................30.3–11.319.261.6–3.351.2–76.0–23.143 Addenda:

44Personal income excluding current transfer receipts, billions of chained

(2009) dollars5.....................................................................................55.031.839.236.813.734.721.19.444 45Disposable personal income, billions of chained (2009) dollars5............38.622.948.155.424.535.823.99.845

p Preliminary

r Revised

4. Consists of nonmortgage interest paid by households.

5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 4. Personal Income and Its Disposition, Change From Preceding Period (Years and Quarters)

[Billions of dollars]

Line20142015

Seasonally adjusted at annual rates

Line 201420152016

IV I II III IV I r

1Personal income.......................................................................................625.8656.5180.9124.2197.2166.7158.5140.81 2Compensation of employees................................................................409.3417.6135.063.0127.294.3144.2106.82 3Wages and salaries............................................................................363.4357.1118.749.8109.378.2125.590.63 4Private industries..............................................................................333.8325.6113.741.5100.869.1120.379.34 5Goods-producing industries...........................................................70.848.926.3–4.915.28.324.610.55 6Manufacturing.............................................................................34.024.115.0–4.49.6 2.417.7 6.26 7Services-producing industries.......................................................263.0276.887.446.485.560.895.768.87 8Trade, transportation, and utilities..............................................57.061.024.17.618.214.319.19.98 9Other services-producing industries...........................................206.0215.763.338.867.346.476.658.89 10Government......................................................................................29.631.5 5.08.38.69.2 5.111.310 11Supplements to wages and salaries................................................45.960.516.313.217.916.118.816.211 12Employer contributions for employee pension and insurance funds126.240.39.110.511.611.911.311.912 13Employer contributions for government social insurance.................19.720.27.1 2.7 6.3 4.27.5 4.313 14Proprietors’ income with inventory valuation and capital

consumption adjustments................................................................61.641.620.1–8.47.523.1 6.7 5.314 15Farm.....................................................................................................–10.6–18.2–2.3–14.3–3.68.3–8.1–8.415 16Nonfarm...............................................................................................72.259.922.4 5.911.214.814.813.816 17Rental income of persons with capital consumption adjustment....47.445.810.08.517.19.58.213.417 18Personal income receipts on assets...................................................57.162.915.614.932.824.5–7.5–0.418 19Personal interest income......................................................................30.710.3 1.7–7.330.821.6–16.6 1.419 20Personal dividend income....................................................................26.552.713.922.2 2.0 2.99.1–1.920 21Personal current transfer receipts.......................................................102.5133.514.554.825.524.322.429.921 22Government social benefits to persons................................................101.7132.314.554.525.023.821.829.422 23Social security2.................................................................................35.637.2 6.617.97.8 5.17.2 4.523 24Medicare3..........................................................................................23.222.0 4.5 4.5 5.57.19.09.124 25Medicaid............................................................................................47.747.5 1.216.9 5.111.4 5.9 4.325 26Unemployment insurance.................................................................–26.5–2.5–1.8 2.2–1.9–0.2–0.80.326 27Veterans’ benefits............................................................................. 4.710.7 2.9 4.1 3.3 1.0 2.70.827 28Other.................................................................................................17.117.4 1.19.0 5.2–0.6–2.210.528 29Other current transfer receipts, from business (net)............................0.8 1.20.00.30.50.50.60.529 30Less: Contributions for government social insurance, domestic....52.245.014.38.613.19.015.514.230 31Less: Personal current taxes...................................................................107.5167.246.861.238.618.636.4–2.431 32Equals: Disposable personal income.....................................................518.3489.3134.162.9158.6148.1122.0143.232 33Less: Personal outlays.............................................................................488.0423.7125.6–10.3182.3131.790.957.933 34Personal consumption expenditures.......................................................473.7405.9112.3–5.9172.9130.685.753.434 35Goods...................................................................................................111.730.4–7.2–78.676.645.9–12.5–40.435 36Durable goods...................................................................................42.448.58.4–1.724.513.37.3–8.636 37Nondurable goods.............................................................................69.3–18.1–15.6–76.952.132.7–19.9–31.837 38Services...............................................................................................362.0375.5119.672.796.384.798.293.838 39Personal interest payments4...................................................................10.114.38.8–1.88.00.1 4.7–2.239 40Personal current transfer payments........................................................ 4.3 3.5 4.5–2.6 1.3 1.00.5 6.640 41To government..................................................................................... 2.7 2.40.2 1.10.20.60.9 5.141 42To the rest of the world (net)................................................................ 1.6 1.2 4.3–3.7 1.10.4–0.3 1.542 43Equals: Personal saving..........................................................................30.365.58.673.2–23.716.431.185.443 Addenda:

44Personal income excluding current transfer receipts, billions of chained

(2009) dollars5......................................................................................327.5443.7164.4118.794.593.0113.994.344 45Disposable personal income, billions of chained (2009) dollars5............313.2410.8135.6115.978.996.1100.5123.445

r Revised

4. Consists of nonmortgage interest paid by households.

5. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 5. Personal Income and Its Disposition, Percent Change From Preceding Period (Months)

Line

Seasonally adjusted at monthly rates

Line 20152016

Oct.Nov.Dec.Jan.r Feb.r March r April r May p Based on current-dollar measures

1Personal income........................................................................0.50.40.30.40.10.30.50.21 2Compensation of employees....................................................0.80.70.30.50.00.30.50.22 3Wages and salaries...............................................................0.90.70.30.60.00.30.50.23 4Supplements to wages and salaries.....................................0.40.40.30.30.20.30.30.24 5Proprietors’ income with inventory valuation and capital

consumption adjustments.....................................................0.2–0.40.80.1–0.1–0.10.70.15 6Rental income of persons with capital consumption adjustment0.40.50.50.70.80.80.50.56 7Personal income receipts on assets.........................................–0.3–0.3–0.40.3–0.20.60.40.47 8Personal interest income.......................................................–0.7–0.7–0.70.40.40.40.20.28 9Personal dividend income.....................................................0.30.40.00.1–1.10.90.70.89 10Personal current transfer receipts............................................0.20.30.60.20.40.30.40.210 11Less: Contributions for government social insurance, domestic0.80.60.20.70.00.20.40.111 12Less: Personal current taxes.................................................... 1.10.80.4–0.80.00.30.30.212 13Equals: Disposable personal income......................................0.40.30.30.60.10.30.50.213 Addenda:

14Personal consumption expenditures........................................0.20.40.10.10.20.0 1.10.414 15Goods....................................................................................–0.20.6–0.6–0.5–0.50.2 2.00.515 16Durable goods....................................................................–0.5 1.1–0.4–0.90.3–0.2 2.60.316 17Nondurable goods..............................................................0.00.3–0.7–0.3–1.00.4 1.70.617 18Services................................................................................0.30.30.50.40.5–0.10.70.418

Based on chained (2009) dollar measures

19Real personal income excluding transfer receipts....................0.50.30.30.30.10.30.20.119 20Real disposable personal income.............................................0.30.20.40.40.20.30.20.120

p Preliminary

r Revised

Table 6. Personal Income and Its Disposition, Percent Change From Preceding Period (Years and Quarters)

Line20142015

Seasonally adjusted at annual rates

Line 201420152016

IV I II III IV I r

Based on current-dollar measures

1Personal income........................................................................ 4.4 4.5 5.0 3.4 5.3 4.4 4.2 3.71 2Compensation of employees.................................................... 4.6 4.5 5.9 2.7 5.5 4.0 6.1 4.42 3Wages and salaries............................................................... 5.1 4.8 6.5 2.6 5.8 4.1 6.5 4.63 4Supplements to wages and salaries..................................... 2.7 3.4 3.7 3.0 4.0 3.6 4.1 3.54 5Proprietors’ income with inventory valuation and capital

consumption adjustments..................................................... 4.8 3.1 6.1–2.4 2.2 6.9 1.9 1.55 6Rental income of persons with capital consumption adjustment8.47.5 6.6 5.511.2 5.9 5.08.26 7Personal income receipts on assets......................................... 2.8 3.0 3.0 2.8 6.3 4.6–1.4–0.17 8Personal interest income....................................................... 2.40.80.5–2.210.0 6.7–4.90.48 9Personal dividend income..................................................... 3.4 6.5 6.911.00.9 1.3 4.3–0.89 10Personal current transfer receipts............................................ 4.2 5.3 2.38.8 3.9 3.7 3.4 4.510 11Less: Contributions for government social insurance, domestic 4.7 3.9 5.0 3.0 4.5 3.0 5.2 4.711 12Less: Personal current taxes.................................................... 6.49.410.914.08.4 3.97.7–0.512 13Equals: Disposable personal income...................................... 4.2 3.8 4.2 1.9 4.9 4.5 3.7 4.313 Addenda:

14Personal consumption expenditures........................................ 4.2 3.4 3.8–0.2 5.9 4.3 2.8 1.714 15Goods.................................................................................... 2.90.8–0.7–7.78.1 4.7–1.2–4.015 16Durable goods.................................................................... 3.4 3.8 2.6–0.57.8 4.1 2.2–2.516 17Nondurable goods.............................................................. 2.7–0.7–2.3–11.08.3 5.0–2.9–4.717 18Services................................................................................ 4.8 4.7 6.1 3.6 4.8 4.2 4.8 4.518

Based on chained (2009) dollar measures

19Real personal income excluding transfer receipts.................... 3.0 4.0 6.0 4.3 3.3 3.3 4.0 3.219

Table 7. Real Personal Consumption Expenditures by Major Type of Product (Months)

Line

20152016

Line Oct.Nov.Dec.Jan.r Feb.r March r April r May p

Billions of chained (2009) dollars, seasonally adjusted at annual rates

1Personal consumption expenditures (PCE).....................11,301.311,332.311,358.511,356.111,385.111,377.611,470.911,500.21 2Goods.........................................................................................3,902.63,927.63,923.63,912.93,915.83,928.93,989.04,011.12 3Durable goods..........................................................................1,483.21,503.81,499.41,483.11,492.21,493.21,531.31,540.83 4Nondurable goods....................................................................2,447.22,453.72,453.52,457.12,452.32,463.72,488.62,501.64 5Services......................................................................................7,400.47,407.97,436.87,443.97,469.27,450.57,486.97,495.65

Change from preceding period in billions of chained (2009) dollars, seasonally adjusted at annual rates

6Personal consumption expenditures (PCE).....................8.631.026.2–2.429.0–7.593.329.36 7Goods.........................................................................................–6.525.0–4.0–10.7 2.913.060.122.17 8Durable goods..........................................................................–3.820.5–4.3–16.39.0 1.138.19.58 9Nondurable goods....................................................................–3.0 6.5–0.2 3.5–4.811.424.912.99 10Services......................................................................................14.37.428.97.225.2–18.736.58.610

Percent change from preceding period in chained (2009) dollars, seasonally adjusted at monthly rates

11Personal consumption expenditures (PCE).....................0.10.30.20.00.3–0.10.80.311 12Goods.........................................................................................–0.20.6–0.1–0.30.10.3 1.50.612 13Durable goods..........................................................................–0.3 1.4–0.3–1.10.60.1 2.60.613 14Nondurable goods....................................................................–0.10.30.00.1–0.20.5 1.00.514 15Services......................................................................................0.20.10.40.10.3–0.30.50.115 p Preliminary

r Revised

Table 8. Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters)

Line20142015

Seasonally adjusted at annual rates

Line 201420152016

IV I II III IV I r

Billions of chained (2009) dollars

1Personal consumption expenditures (PCE)......................10,875.711,213.311,033.311,081.211,178.911,262.411,330.711,372.91 2Goods..........................................................................................3,731.23,869.63,793.23,803.73,855.03,902.03,917.93,919.22 3Durable goods..........................................................................1,384.11,466.51,423.51,430.41,458.31,481.71,495.51,489.53 4Nondurable goods....................................................................2,367.82,430.02,393.72,397.82,423.02,447.92,451.52,457.74 5Services......................................................................................7,144.67,345.37,240.47,277.47,325.37,363.47,415.07,454.55

Change from preceding period in billions of chained (2009) dollars

6Personal consumption expenditures (PCE)......................285.3337.6114.748.097.783.568.342.26 7Goods..........................................................................................118.4138.538.010.551.347.016.0 1.37 8Durable goods..........................................................................76.582.421.07.027.823.413.8–6.08 9Nondurable goods....................................................................48.062.218.5 4.125.224.9 3.6 6.29 10Services......................................................................................167.6200.776.537.047.938.151.639.510

Percent change from preceding period in chained (2009) dollars

11Personal consumption expenditures (PCE)...................... 2.7 3.1 4.3 1.8 3.6 3.0 2.4 1.511 12Goods.......................................................................................... 3.3 3.7 4.1 1.1 5.5 5.0 1.60.112 13Durable goods.......................................................................... 5.9 6.0 6.1 2.08.0 6.6 3.8–1.613 14Nondurable goods.................................................................... 2.1 2.6 3.10.7 4.3 4.20.6 1.014 15Services...................................................................................... 2.4 2.8 4.3 2.1 2.7 2.1 2.8 2.115 r Revised

Table 9. Price Indexes for Personal Consumption Expenditures: Level and Percent Change From Preceding Period (Months)

Line

20152016

Line Oct.Nov.Dec.Jan.r Feb.r March r April r May p

Chain-type price indexes (2009=100), seasonally adjusted

1Personal consumption expenditures (PCE)......................109.774109.911109.819109.940109.840109.910110.247110.4311 2Goods..........................................................................................102.626102.540101.988101.783101.150101.025101.528101.4872 3Durable goods...........................................................................90.26290.01989.87290.07889.82289.60089.66389.4223 4Nondurable goods.....................................................................108.949108.959108.166107.714106.859106.795107.561107.6444 5Services.......................................................................................113.516113.771113.923114.215114.396114.568114.816115.1215 Addenda:

6PCE excluding food and energy...............................................109.860110.020110.095110.392110.584110.653110.842111.0226 7Food1........................................................................................111.461111.197110.867110.705110.911110.412110.614110.1087 8Energy goods and services2.....................................................102.840103.133100.03397.04590.69991.71795.20896.5568 9Market-based PCE3..................................................................108.565108.658108.542108.568108.474108.525108.855109.0559 10Market-based PCE excluding food and energy3.......................108.461108.574108.644108.858109.098109.144109.304109.50310

Percent change from preceding period in price indexes, seasonally adjusted at monthly rates

11Personal consumption expenditures (PCE)......................0.10.1–0.10.1–0.10.10.30.211 12Goods..........................................................................................0.0–0.1–0.5–0.2–0.6–0.10.50.012 13Durable goods...........................................................................–0.2–0.3–0.20.2–0.3–0.20.1–0.313 14Nondurable goods.....................................................................0.10.0–0.7–0.4–0.8–0.10.70.114 15Services.......................................................................................0.10.20.10.30.20.20.20.315 Addenda:

16PCE excluding food and energy...............................................0.10.10.10.30.20.10.20.216 17Food1........................................................................................0.1–0.2–0.3–0.10.2–0.40.2–0.517 18Energy goods and services2.....................................................0.30.3–3.0–3.0–6.5 1.1 3.8 1.418 19Market-based PCE3..................................................................0.10.1–0.10.0–0.10.00.30.219 20Market-based PCE excluding food and energy3.......................0.10.10.10.20.20.00.10.220

p Preliminary

r Revised

1. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.

2. Consists of gasoline and other energy goods and of electricity and gas services.

3. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.

Table 10. Real Disposable Personal Income and Real Personal Consumption Expenditures:

Percent Change From Month One Year Ago

Line

20152016

Line Oct.Nov.Dec.Jan.r Feb.r March r April r May p

1Disposable personal income..................................................... 3.6 3.2 3.0 3.1 3.1 3.7 3.3 3.21 2Personal consumption expenditures....................................... 2.8 2.6 2.7 2.6 2.8 2.5 3.0 2.72 3Goods........................................................................................ 3.4 3.2 3.2 3.0 3.5 2.6 4.2 3.63 4Durable goods........................................................................ 5.2 5.0 5.0 3.9 5.2 3.3 5.7 4.84 5Nondurable goods.................................................................. 2.6 2.4 2.3 2.6 2.7 2.2 3.5 3.05 6Services.................................................................................... 2.5 2.3 2.4 2.4 2.5 2.4 2.5 2.36

p Preliminary

r Revised

Table 11. Price Indexes for Personal Consumption Expenditures: Percent Change From Month One Year Ago

Line

20152016

Line Oct.Nov.Dec.Jan.r Feb.r March r April r May p

1Personal consumption expenditures (PCE)......................0.20.50.7 1.2 1.00.8 1.10.91 2Goods..........................................................................................–3.1–2.3–1.9–0.5–1.4–1.8–1.1–1.82 3Durable goods..........................................................................–2.0–1.7–1.3–0.9–1.4–1.5–1.6–1.73 4Nondurable goods....................................................................–3.6–2.6–2.2–0.3–1.4–1.9–0.9–1.84 5Services...................................................................................... 1.9 1.9 1.9 2.1 2.1 2.1 2.1 2.25 Addenda:

6PCE excluding food and energy............................................... 1.3 1.4 1.4 1.7 1.7 1.6 1.6 1.66 7Food1........................................................................................0.70.2–0.3–0.2–0.1–0.20.1–0.37 8Energy goods and services2.....................................................–18.3–14.3–12.4–5.3–12.5–12.7–8.1–10.98 9Market-based PCE3..................................................................0.00.30.4 1.00.80.60.80.79