News Release: Personal Income and Outlays

[The Straight Story]

News Release: Personal Income and Outlays

The entire release is available in PDF format. The tables in this release are available in an XLS spreadsheet.
Also available: a brief summary of highlights.

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, DECEMBER 1, 2004

James E. Rankin: (202) 606-5301 (Personal Income)BEA 04-54
Michael Armah: (202) 606-5302 (Personal Outlays)
Recorded message: (202) 606-5303

PERSONAL INCOME AND OUTLAYS: OCTOBER 2004

Personal income increased $61.7 billion, or 0.6 percent, and disposable personal income
(DPI) increased $53.6 billion, or 0.6 percent, in October, according to the Bureau of Economic
Analysis. Personal consumption expenditures (PCE) increased $61.2 billion, or 0.7 percent. In
September, personal income increased $19.1 billion, or 0.2 percent, DPI increased $14.0 billion,
or 0.2 percent, and PCE increased $51.4 billion, or 0.6 percent, based on revised estimates.





2004
June July Aug. Sept. Oct.
(Percent change from preceding month)
Personal income, current dollars 0.2 0.2 0.4 0.2 0.6

Disposable personal income:
Current dollars 0.2 0.1 0.4 0.2 0.6
Chained (2000) dollars 0.0 0.2 0.4 0.1 0.2

Personal consumption expenditures:
Current dollars -0.3 1.2 0.0 0.6 0.7
Chained (2000) dollars -0.6 1.2 0.0 0.5 0.3




This news release also presents revised estimates of wages and salaries, personal current
taxes, and contributions for government social insurance for April through June 2004 (second
quarter).



The October, September, and August estimates of personal income reflect the effects of
Hurricanes Charley, Frances, Ivan, and Jeanne, which hit the southeastern part of the United
States in August and September. The impact of the hurricanes is discussed more fully below.

For more information on how disasters are treated in the national accounts, see the discussion
on BEA's Web site at <http://www.bea.gov/bea/faq/national/disasters.htm>.



 Wages and salaries

Private wage and salary disbursements increased $27.7 billion in October, compared with an
increase of $22.1 billion in September. Goods-producing industries' payrolls increased $3.2
billion, compared with an increase of $3.5 billion; manufacturing payrolls decreased $1.1 billion,
in contrast to an increase of $1.7 billion. Services-producing industries' payrolls increased $24.5
billion, compared with an increase of $18.6 billion. Government wage and salary disbursements
increased $2.0 billion, compared with an increase of $2.2 billion.

Other personal income

Supplements to wages and salaries increased $4.6 billion in October, compared with an
increase of $5.3 billion in September.

Proprietors' income increased $17.4 billion in October, in contrast to a decrease of $6.5
billion in September. Farm proprietors' income increased $2.0 billion, in contrast to a decrease of
$1.1 billion. Nonfarm proprietors' income increased $15.4 billion in October, in contrast to a
decrease of $5.4 billion. Changes in nonfarm proprietors' income reflected the impact of
Hurricanes Charley, Frances, Ivan, and Jeanne, which had subtracted $8.9 billion (at an annual rate)
in September and had subtracted $3.2 billion (at an annual rate) in August.

Rental income of persons increased $26.8 billion in October, in contrast to a decrease of
$22.8 billion in September. Changes in rental income reflected the impact of Hurricanes Charley,
Frances, Ivan, and Jeanne, which had subtracted $30.3 billion (at an annual rate) in September and
had subtracted $10.6 billion (at an annual rate) in August.

Personal income receipts on assets (personal interest income plus personal dividend
income) increased $6.3 billion in October, compared with an increase of $3.6 billion in
September.

Personal current transfer receipts decreased $18.8 billion in October, in contrast to an
increase of $18.5 billion in September. Changes in personal current transfer receipts reflected
the impact of Hurricanes Charley, Frances, Ivan, and Jeanne, which had added $27.5 billion (at an
annual rate) in September and had added $13.6 billion (at an annual rate) in August.

Contributions for government social insurance -- a subtraction in calculating personal income
-- increased $4.1 billion in October, compared with an increase of $3.3 billion in September.

Personal current taxes and disposable personal income

Personal current taxes increased $8.2 billion in October, compared with an increase of $5.0
billion in September. Disposable personal income (DPI) -- personal income less personal current
taxes -- increased $53.6 billion, or 0.6 percent, in October, compared with an increase of $14.0
billion, or 0.2 percent, in September.

Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments
increased $63.4 billion in October, compared with an increase of $54.4 billion in September.
PCE increased $61.2 billion, compared with an increase of $51.4 billion.

Personal saving -- DPI less personal outlays -- was $17.7 billion in October, compared with
$27.5 billion in September. Personal saving as a percentage of disposable personal income was
0.2 percent in October, compared with 0.3 percent in September.


http://www.bea.gov/bea/newsrelarchive/2004/pi1004.htm