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FOR WIRE TRANSMISSION: 8:30 A.M. EST, FRIDAY, MARCH 31, 2000
James E. Rankin: (202) 606-5301 (Personal Income) BEA 00-08
Greg Key: 606-5302 (Personal Outlays)
Recorded message: 606-5303
PERSONAL INCOME AND OUTLAYS: FEBRUARY 2000
REVISED REAL ESTIMATES: 1959 - JANUARY 2000
Personal income increased $32.6 billion, or 0.4 percent, and disposable personal income (DPI)
increased $22.1 billion, or 0.3 percent, in February, according to the Commerce Department's
Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $62.4 billion,
or 1.0 percent. In January, personal income increased $58.7 billion, or 0.7 percent, DPI increased
$61.4 billion, or 0.9 percent, and PCE increased $35.9 billion, or 0.6 percent, based on revised
estimates.
1999 2000
Oct. Nov. Dec. Jan. Feb.
(Percent change from preceding month)
Personal income, current dollars 1.2 0.4 0.3 0.7 0.4
Disposable personal income:
Current dollars 1.3 .4 .2 .9 .3
Chained (1996) dollars 1.1 .3 .0 .6 -.1
Personal consumption expenditures:
Current dollars .5 .8 1.1 .6 1.0
Chained (1996) dollars .3 .7 .9 .3 .5
Comprehensive Revision of the National Income and Product Accounts
With this release, the 11th comprehensive revision of the national income and product accounts (NIPA's)
is nears its completion. Estimates of real DPI and real personal consumption expenditures have been revised
beginning with 1959 to incorporate a correction to real services furnished without payment by
financial intermediaries that was released on March 30, 2000. The availability of revised estimates for
earlier periods and of additional information about the revision is described in a box on page 5.
Wages and salaries
Private wage and salary disbursements increased $10.7 billion in February, compared with an
increase of $30.6 billion in January. Goods-producing industries' payrolls increased $4.4 billion,
compared with an increase of $13.0 billion; manufacturing payrolls increased $3.8 billion, compared
with an increase of $7.4 billion. Distributive industries' payrolls decreased $2.2 billion, in contrast to an
increase of $4.5 billion. Service industries' payrolls increased $8.3 billion, compared with an increase of
$13.2 billion.
Government wage and salary disbursements increased $2.1 billion in February, compared with an
increase of $10.3 billion in January. Pay raises for federal civilian and military personnel added $6.9
billion to government payrolls in January.
Other personal income
Proprietors' income increased $5.1 billion in February, compared with an increase of $1.6 billion in
January. Farm proprietors' income increased $1.0 billion, compared with an increase of $0.6 billion.
Nonfarm proprietors' income increased $4.2 billion, compared with an increase of $0.9 billion.
Transfer payments increased $5.1 billion in February, compared with an increase of $9.2 billion in
January. The January increase in transfer payments reflected 2.4-percent cost-of-living adjustments,
which had added $10.7 billion to social security benefits and to several other federal transfer payment
programs. The January increase had been reduced by lump-sum social security benefits payments, which
had added $3.7 billion to December transfer payments; these benefit payments resulted from a
recalculation of the earnings base underlying the benefits for recent retirees.
Personal interest income increased $5.2 billion in February, compared with an increase of $5.4
billion in January. Personal dividend income increased $2.2 billion, compared with an increase of $2.3
billion. Rental income of persons increased $1.0 billion, compared with an increase of $1.1 billion.
Personal contributions for social insurance -- a subtraction in calculating personal income --
increased $0.7 billion in February, compared with an increase of $4.8 billion in January. The January
increase reflected the effect of an increase in the social security taxable wage base for employees and the
self-employed (from $72,600 to $76,200), which had added $2.5 billion to January.
Personal taxes and disposable personal income
Personal tax and nontax payments increased $10.4 billion in February, in contrast to a decrease of
$2.6 billion in January. In January, federal income tax payments had been reduced by $5.4 billion,
reflecting the provisions of the Taxpayer Relief Act of 1997 and the indexation provisions of current tax
law.
Disposable personal income (DPI) -- personal income less personal tax and nontax payments --
increased $22.1 billion, or 0.3 percent, in February, compared with an increase of $61.4 billion, or 0.9
percent, in January.
Personal outlays and personal saving
Personal outlays -- PCE, interest paid by persons, and personal transfer payments to the rest of the
world (net) -- increased $63.9 billion in February, compared with an increase of $37.0 billion in January.
PCE increased $62.4 billion, compared with an increase of $35.9 billion.
Personal saving -- DPI less personal outlays -- was $55.5 billion in February, compared with $97.4
billion in January. Personal saving as a percentage of disposable personal income was 0.8 percent in
February, compared with 1.4 percent in January.
Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in February, in contrast
to an increase of 0.6 percent in January.
Real PCE -- PCE adjusted to remove price changes -- increased 0.5 percent in February, compared
with an increase of 0.3 percent in January. Purchases of durable goods increased 1.7 percent, compared
with an increase of 2.6 percent. Purchases of motor vehicles and parts accounted for most of the
February increase and about half of the January increase. Purchases of nondurable goods increased 0.6
percent in February, in contrast to a decrease of 1.0 percent in January. Purchases of services increased
0.3 percent, compared with an increase of 0.5 percent.
Revisions
Current-dollar estimates have been revised for October through January. Estimates of real DPI and
real personal consumption expenditures have been revised beginning with 1959 to incorporate
corrections to real services furnished without payment by financial intermediaries. Table 6 shows
published and revised real DPI, real PCE, and the PCE implicit price deflators. Changes in personal
income, current-dollar and chained (1996) dollar DPI, and current-dollar and chained (1996) dollar PCE
for December and January -- revised and as published in last month's release -- are shown below.
Change from preceding month
December January
Previous Revised Previous Revised Previous Revised Previous Revised
(Dollars) (Percent) (Dollars) (Percent)
Personal Income:
Current dollars 21.0 21.8 0.3 0.3 58.6 58.7 0.7 0.7
Disposable personal income:
Current dollars 10.0 10.9 .1 .2 61.4 61.4 .9 .9
Chained (1996) dollars -1.5 -2.4 .0 .0 43.5 41.6 .7 .6
Personal consumption expenditures:
Current dollars 68.6 71.0 1.1 1.1 33.0 35.9 .5 .6
Chained (1996) dollars 54.8 55.2 .9 .9 17.3 18.3 .3 .3
Availability of Estimates and Related Information
On March 30, 2000, the regular "selected NIPA tables" were posted on BEA's Web site at
and on STAT-USA's Web site at . On April 3, 2000, the
selected NIPA tables beginning with 1959 will be posted. On April 5, 2000, the historical personal
income and outlays tables beginning with 1959 will be posted. The selected NIPA tables for 1929-58
and most annual-only tables beginning with 1929 will be posted later in April.
Lists of specific series and of specific lines and columns of the NIPA tables affected by the
corrections to the estimates beginning with 1959 have been posted on BEA's Web site and will be
published in the April issue of the Survey of Current Business.
The April Survey will include an article that discusses the revised estimates for 1929-98, tables
for GDP, personal income, and other major aggregates beginning with 1929, and most of the NIPA
tables (including annual-only tables), beginning with 1997.
The April Survey will also present an article on the estimates of fixed assets and consumer
durable goods, including summary estimates for 1925-98 and detailed estimates for 1988-98.
Additional estimates will be posted on BEA's and STAT-USA's Web sites in late April.
The following issues of the Survey contain information about the comprehensive revision:
* August 1999: Definitional and classificational changes.
* September 1999: New and redesigned tables.
* October 1999: Statistical changes.
* December 1999: Improved Estimates for 1959-98.
BEA's major national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site:
STAT-USA maintains an Internet site that contains BEA estimates, the Survey of Current
Business, and BEA news releases. The information available through STAT-USA is often more
detailed and more timely than that available from other sources. For information about STAT-USA,
go to , or call (202) 482-1986. Subscriptions for single-user unlimited access to
STAT-USA's Internet information are $50.00 for 3 months or $150.00 for 1 year.
Summary BEA estimates are available on recorded messages at the time of public release at the
following telephone numbers:
(202) 606-5306 Gross domestic product
606-5303 Personal income and outlays
606-5362 U.S. international transactions
Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal. The printed Survey of Current Business is available from the Superintendent of
Documents, U.S. Government Printing Office, Washington, DC 20402. First class mail: Annual
subscription $120.00 domestic. Second class mail: Annual subscription $48.00 domestic, $60.00
foreign; single issue $17.25 domestic, $21.56 foreign.
* * *
Next release -- Personal Income and Outlays for March will be released on
April 28, 2000 at 8:30 A.M. EDT.
Table 1. -- Personal Income
[Billions of dollars]
Seasonally adjusted at annual rates
1998 1999 1999 2000
Sep. Oct./r/ Nov./r/ Dec./r/ Jan./r/ Feb./p/
Personal income 7,358.9 7,791.8 7,848.1 7,943.4 7,976.8 7,998.6 8,057.3 8,089.9
Wage and salary disbursements 4,186.0 4,472.3 4,528.5 4,556.7 4,569.5 4,600.5 4,641.4 4,654.2
Private industries 3,493.2 3,745.8 3,795.6 3,821.0 3,831.3 3,859.0 3,889.6 3,900.3
Goods-producing industries 1,038.7 1,082.4 1,093.6 1,101.4 1,100.3 1,102.5 1,115.5 1,119.9
Manufacturing 757.5 779.7 788.0 793.7 789.3 789.0 796.4 800.2
Distributive industries 944.6 1,005.8 1,017.3 1,018.8 1,021.1 1,037.4 1,041.9 1,039.7
Service industries 1,509.9 1,657.6 1,684.6 1,700.8 1,709.9 1,719.1 1,732.3 1,740.6
Government 692.8 726.5 732.9 735.7 738.3 741.5 751.8 753.9
Other labor income 515.7 535.8 540.3 541.9 543.7 545.4 548.3 550.2
Proprietors' income with IVA and CCAdj 606.1 658.5 650.6 684.2 694.8 675.9 677.5 682.6
Farm 25.1 31.3 18.0 44.9 46.1 21.8 22.4 23.4
Nonfarm 581.0 627.3 632.5 639.3 648.7 654.1 655.0 659.2
Rental income of persons with CCAdj 137.4 145.9 128.5 148.2 149.2 144.4 145.5 146.5
Personal dividend income 348.3 364.3 369.0 371.1 373.1 375.2 377.5 379.7
Personal interest income 897.8 931.3 945.3 952.2 958.6 964.6 970.0 975.2
Transfer payments to persons 983.6 1,018.2 1,023.6 1,028.3 1,027.8 1,034.4 1,043.6 1,048.7
Old-age, survivors, disability, and health
insurance benefits 578.1 596.4 600.8 604.2 602.4 607.4 615.1 618.2
Government unemployment insurance benefits 19.8 20.3 20.1 19.8 20.3 20.4 20.1 20.4
Other 385.7 401.5 402.8 404.2 405.1 406.6 408.4 410.1
Less: Personal contributions for social insurance 315.9 334.6 337.8 339.3 339.9 341.8 346.6 347.3
p Preliminary.
r Revised.
IVA Inventory valuation adjustment.
CCAdj Capital consumption adjustment.
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
1998 1999 1999 2000
Sep. Oct./r/ Nov./r/ Dec./r/ Jan./r/ Feb./p/
Personal income 7,358.9 7,791.8 7,848.1 7,943.4 7,976.8 7,998.6 8,057.3 8,089.9
Less: Personal tax and nontax payments 1,072.6 1,152.1 1,170.7 1,176.5 1,182.0 1,192.9 1,190.3 1,200.7
Equals: Disposable personal income 6,286.2 6,639.7 6,677.4 6,766.9 6,794.8 6,805.7 6,867.1 6,889.2
Less: Personal outlays 6,056.6 6,483.3 6,571.0 6,606.9 6,659.3 6,732.7 6,769.7 6,833.6
Personal consumption expenditures 5,848.6 6,257.3 6,342.2 6,376.8 6,427.3 6,498.3 6,534.2 6,596.6
Interest paid by persons 185.7 201.7 204.4 205.3 207.3 209.7 210.7 212.3
Personal transfer payments to the
rest of the world (net) 22.3 24.3 24.5 24.7 24.7 24.7 24.7 24.7
Equals: Personal saving 229.7 156.3 106.4 160.0 135.5 73.0 97.4 55.5
Addenda:
Disposable personal income:
Chained (1996) dollars /1/ 6,107.1 6,349.4 6,354.7 6,427.0 6,447.2 6,444.8 6,486.4 6,479.6
Per capita:
Current dollars 23,231 24,307 24,390 24,696 24,780 24,802 25,011 25,079
Chained (1996) dollars 22,569 23,244 23,212 23,456 23,512 23,487 23,625 23,588
Population (thousands) 270,595 273,161 273,773 274,005 274,209 274,399 274,562 274,704
Personal saving as a percentage of
disposable personal income 3.7 2.4 1.6 2.4 2.0 1.1 1.4 0.8
p Preliminary.
r Revised.
1. Disposable personal income in chained (1996) dollars equals the current-dollar figure divided by
the implicit price deflator for personal consumption expenditures.
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
1998 1999 1999 2000
Sep. Oct./r/ Nov./r/ Dec./r/ Jan./r/ Feb./p/
Personal income 407.8 432.9 8.1 95.3 33.4 21.8 58.7 32.6
Wage and salary disbursements 297.1 286.3 20.3 28.2 12.8 31.0 40.9 12.8
Private industries 268.8 252.6 18.0 25.4 10.3 27.7 30.6 10.7
Goods-producing industries 63.2 43.7 6.3 7.8 -1.1 2.2 13.0 4.4
Manufacturing 38.7 22.2 2.8 5.7 -4.4 -0.3 7.4 3.8
Distributive industries 65.5 61.2 4.2 1.5 2.3 16.3 4.5 -2.2
Service industries 140.1 147.7 7.4 16.2 9.1 9.2 13.2 8.3
Government 28.4 33.7 2.2 2.8 2.6 3.2 10.3 2.1
Other labor income 14.8 20.1 1.7 1.6 1.8 1.7 2.9 1.9
Proprietors' income with IVA and CCAdj 27.5 52.4 -7.2 33.6 10.6 -18.9 1.6 5.1
Farm -4.4 6.2 -3.4 26.9 1.2 -24.3 0.6 1.0
Nonfarm 31.9 46.3 -3.9 6.8 9.4 5.4 0.9 4.2
Rental income of persons with CCAdj 7.2 8.5 -15.1 19.7 1.0 -4.8 1.1 1.0
Personal dividend income 14.9 16.0 2.0 2.1 2.0 2.1 2.3 2.2
Personal interest income 42.9 33.5 6.5 6.9 6.4 6.0 5.4 5.2
Transfer payments to persons 21.2 34.6 1.0 4.7 -0.5 6.6 9.2 5.1
Old-age, survivors, disability, and health
insurance benefits 12.3 18.3 1.4 3.4 -1.8 5.0 7.7 3.1
Government unemployment insurance benefits -0.2 0.5 -0.3 -0.3 0.5 0.1 -0.3 0.3
Other 9.1 15.8 0.0 1.4 0.9 1.5 1.8 1.7
Less: Personal contributions for social
insurance 17.8 18.7 1.2 1.5 0.6 1.9 4.8 0.7
Less: Personal tax and nontax payments 104.3 79.5 19.7 5.8 5.5 10.9 -2.6 10.4
Equals: Disposable personal income 303.4 353.5 -11.6 89.5 27.9 10.9 61.4 22.1
Less: Personal outlays 344.9 426.7 33.3 35.9 52.4 73.4 37.0 63.9
Personal consumption expenditures 324.2 408.7 32.3 34.6 50.5 71.0 35.9 62.4
Interest paid by persons 19.0 16.0 1.1 0.9 2.0 2.4 1.0 1.6
Personal transfer payments to the rest of the
world (net) 1.7 2.0 0.0 0.2 0.0 0.0 0.0 0.0
Equals: Personal saving -41.4 -73.4 -45.0 53.6 -24.5 -62.5 24.4 -41.9
Addendum:
Disposable personal income,
chained (1996) dollars 240.4 242.3 -30.0 72.3 20.2 -2.4 41.6 -6.8
p Preliminary.
r Revised.
IVA Inventory valuation adjustment.
CCAdj Capital consumption adjustment.
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
1998 1999 1999 2000
Sep. Oct./r/ Nov./r/ Dec./r/ Jan./r/ Feb./p/
Billions of current dollars
Personal consumption expenditures 5,848.6 6,257.3 6,342.2 6,376.8 6,427.3 6,498.3 6,534.2 6,596.6
Durable goods 698.2 758.6 766.6 767.0 784.9 794.4 813.8 826.1
Nondurable goods 1,708.9 1,843.1 1,870.4 1,883.5 1,895.9 1,938.0 1,922.1 1,949.8
Services 3,441.5 3,655.6 3,705.1 3,726.3 3,746.5 3,765.9 3,798.3 3,820.7
Billions of chained (1996) dollars
Personal consumption expenditures 5,681.8 5,983.6 6,035.7 6,056.5 6,098.5 6,153.7 6,172.0 6,204.4
Durable goods 731.5 815.7 826.9 828.9 849.3 862.0 884.2 899.1
Nondurable goods 1,685.3 1,776.1 1,783.3 1,792.4 1,805.8 1,837.8 1,820.2 1,830.3
Services 3,268.0 3,400.1 3,434.1 3,443.8 3,454.3 3,466.0 3,482.1 3,491.3
Implicit price deflators (Index numbers, 1996 = 100)
Personal consumption expenditures 102.93 104.58 105.08 105.29 105.39 105.60 105.87 106.32
Durable goods 95.45 93.00 92.71 92.54 92.42 92.15 92.04 91.87
Nondurable goods 101.40 103.77 104.88 105.08 104.99 105.45 105.59 106.53
Services 105.31 107.52 107.89 108.20 108.46 108.65 109.08 109.44
Change From Preceding Period
Billions of current dollars
Personal consumption expenditures 324.2 408.7 32.3 34.6 50.5 71.0 35.9 62.4
Durable goods 55.3 60.4 0.9 0.4 17.9 9.5 19.4 12.3
Nondurable goods 67.1 134.3 15.5 13.1 12.4 42.1 -15.9 27.7
Services 201.7 214.1 15.9 21.2 20.2 19.4 32.4 22.4
Billions of chained (1996) dollars
Personal consumption expenditures 264.6 301.8 12.8 20.8 42.0 55.2 18.3 32.4
Durable goods 74.1 84.2 0.9 2.0 20.4 12.7 22.2 14.9
Nondurable goods 65.4 90.8 0.7 9.1 13.4 32.0 -17.6 10.1
Services 127.7 132.1 11.0 9.7 10.5 11.7 16.1 9.2
Table 5.-- Percent Change From Preceding Period in Selected Series
Based on current dollars
Personal income 5.9 5.9 0.1 1.2 0.4 0.3 0.7 0.4
Disposable personal income 5.1 5.6 -0.2 1.3 0.4 0.2 0.9 0.3
Personal consumption expenditures 5.9 7.0 0.5 0.5 0.8 1.1 0.6 1.0
Durable goods 8.6 8.7 0.1 0.1 2.3 1.2 2.4 1.5
Nondurable goods 4.1 7.9 0.8 0.7 0.7 2.2 -0.8 1.4
Services 6.2 6.2 0.4 0.6 0.5 0.5 0.9 0.6
Based on chained (1996) dollars
Disposable personal income 4.1 4.0 -0.5 1.1 0.3 -0.0 0.6 -0.1
Personal consumption expenditures 4.9 5.3 0.2 0.3 0.7 0.9 0.3 0.5
Durable goods 11.3 11.5 0.1 0.2 2.5 1.5 2.6 1.7
Nondurable goods 4.0 5.4 0.0 0.5 0.7 1.8 -1.0 0.6
Services 4.1 4.0 0.3 0.3 0.3 0.3 0.5 0.3
p Preliminary.
r Revised.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Table 6. -- Chained (1996) Dollars Disposable Personal Income and Personal Consumption Expenditures
Percent Changes
Real DPI Real PCE PCE Implicit Price Deflators
Previously Previously Previously
published Revised published Revised published Revised
1959 ... ... ... ... ... ...
1960 2.5 2.5 2.7 2.7 1.7 1.7
1961 3.3 3.3 2.0 2.0 1.1 1.1
1962 4.8 4.9 4.9 4.9 1.2 1.2
1963 3.8 3.8 4.1 4.1 1.2 1.2
1964 7.2 7.2 6.0 6.0 1.4 1.4
1965 6.2 6.2 6.3 6.3 1.5 1.5
1966 5.3 5.3 5.7 5.7 2.6 2.6
1967 4.3 4.3 3.0 3.0 2.5 2.5
1968 4.6 4.6 5.7 5.7 3.9 3.9
1969 3.2 3.1 3.8 3.7 4.4 4.5
1970 4.2 4.2 2.3 2.3 4.8 4.7
1971 4.1 4.4 3.5 3.8 4.6 4.3
1972 4.5 4.7 5.9 6.0 3.6 3.5
1973 6.8 6.9 4.8 4.9 5.5 5.4
1974 -0.3 -0.7 -0.4 -0.8 9.9 10.3
1975 2.0 1.9 2.2 2.2 8.1 8.2
1976 3.9 4.3 5.4 5.8 5.9 5.4
1977 3.5 3.6 4.2 4.3 6.7 6.6
1978 5.2 5.0 4.7 4.4 6.9 7.1
1979 3.2 2.9 2.8 2.5 8.6 8.9
1980 1.2 0.8 0.0 -0.3 10.4 10.8
1981 2.3 2.3 1.4 1.3 8.8 8.8
1982 1.6 1.4 1.4 1.2 5.5 5.7
1983 2.9 3.0 5.3 5.5 4.5 4.3
1984 7.7 7.7 5.4 5.4 3.7 3.7
1985 3.4 3.3 5.0 5.0 3.4 3.5
1986 3.2 3.2 4.2 4.2 2.4 2.4
1987 2.3 2.1 3.5 3.3 3.7 3.8
1988 4.4 4.4 4.1 4.0 3.9 3.9
1989 2.5 2.6 2.6 2.7 4.4 4.4
1990 2.2 2.2 1.8 1.8 4.6 4.6
1991 0.7 0.4 0.1 -0.2 3.5 3.8
1992 3.5 3.1 3.2 2.9 2.7 3.1
1993 1.0 1.4 3.0 3.4 2.7 2.4
1994 2.6 2.6 3.8 3.8 2.0 2.0
1995 2.7 2.6 3.1 3.0 2.2 2.3
1996 2.6 2.5 3.3 3.2 2.0 2.1
1997 3.6 3.3 3.7 3.4 1.7 2.0
1998 4.1 4.1 4.9 4.9 0.9 0.9
1999 4.0 4.0 5.3 5.3 1.6 1.6
1996
Jan. -0.1 -0.1 -0.4 -0.4 0.3 0.2
Feb. 0.7 0.6 0.8 0.8 0.2 0.2
Mar. 0.3 0.2 0.1 0.1 0.3 0.3
Apr. -0.9 -0.9 0.7 0.7 0.3 0.3
May 1.2 1.2 0.2 0.1 0.1 0.2
June 0.6 0.6 0.0 0.0 0.0 0.0
July 0.0 0.0 0.1 0.1 0.2 0.2
Aug. 0.4 0.3 0.5 0.5 0.1 0.1
Sep. 0.3 0.3 0.1 0.1 0.2 0.2
Oct. -0.2 -0.2 0.3 0.3 0.3 0.3
Nov. 0.3 0.2 0.2 0.1 0.2 0.2
Dec. 0.4 0.3 0.5 0.4 0.1 0.2
Month-to-month changes are at monthly rates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Table 6. -- Chained (1996) Dollars Disposable Personal Income and Personal Consumption Expenditures--Continued
Percent Changes
Real DPI Real PCE PCE Implicit Price Deflators
Previously Previously Previously
published Revised published Revised published Revised
1997
Jan. 0.4 0.3 0.6 0.6 0.2 0.2
Feb. 0.3 0.3 0.1 0.1 0.2 0.3
Mar. 0.5 0.5 0.3 0.3 0.1 0.1
Apr. 0.2 0.2 -0.1 -0.2 0.1 0.1
May 0.4 0.4 0.2 0.2 0.0 0.0
June 0.3 0.3 0.6 0.6 0.1 0.1
July 0.2 0.2 0.9 0.9 0.1 0.1
Aug. 0.4 0.4 0.3 0.3 0.1 0.1
Sep. 0.2 0.2 0.1 0.0 0.2 0.2
Oct. 0.4 0.4 0.3 0.3 0.1 0.1
Nov. 0.5 0.5 0.5 0.5 0.0 0.0
Dec. 0.3 0.3 0.3 0.3 0.0 0.0
1998
Jan. 0.2 0.2 0.4 0.5 0.1 0.0
Feb. 0.4 0.4 0.6 0.7 0.1 0.0
Mar. 0.5 0.5 0.5 0.5 0.0 0.0
Apr. 0.1 0.1 0.2 0.2 0.2 0.2
May 0.3 0.3 1.0 1.0 0.1 0.1
June 0.5 0.5 0.4 0.4 0.0 0.0
July 0.4 0.4 0.0 0.0 0.2 0.2
Aug. 0.3 0.3 0.4 0.4 0.1 0.1
Sep. 0.3 0.3 0.2 0.2 0.0 0.0
Oct. 0.3 0.4 0.5 0.5 0.2 0.2
Nov. 1.0 1.0 0.2 0.2 0.0 0.0
Dec. -0.3 -0.3 0.7 0.7 0.1 0.1
1999
Jan. 0.4 0.4 0.2 0.2 0.2 0.2
Feb. 0.5 0.5 0.8 0.8 0.0 0.0
Mar. 0.4 0.4 0.9 0.9 0.0 0.0
Apr. -0.1 -0.1 -0.2 -0.2 0.6 0.6
May 0.3 0.3 0.6 0.6 0.0 0.0
June 0.8 0.8 0.5 0.5 -0.1 -0.1
July 0.0 0.0 0.2 0.2 0.2 0.2
Aug. 0.4 0.4 0.6 0.6 0.2 0.2
Sep. -0.5 -0.5 0.2 0.2 0.3 0.3
Oct. 1.1 1.1 0.3 0.3 0.2 0.2
Nov. 0.3 0.3 0.7 0.7 0.1 0.1
Dec. 0.0 0.0 0.9 0.9 0.2 0.2
2000
Jan. 0.7 0.6 0.3 0.3 0.2 0.3
Feb. ... -0.1 ... 0.5 ... 0.4
Month-to-month changes are at monthly rates.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.