|
Consumer spending on the rise again in January
Personal Income and Its Disposition Report U.S. Economy
In January Personal income soared by 10 % on the seasonally adjusted basis, reported by the Commerce Department. Meanwhile, disposable income, money left over after taxes, jumped by 11.4 %, averaging income $58,036 at the annualized rate for every American. |
Consumer spending grew by 2.4 %. The pattern of income and spending growth in January halts a recent trend. Consumers had been financing their purchases mainly by dipping into their savings. Since spending rose more than income, the individual savings in January rate fell to 20.5 % from 13.7 % of disposable income.
Spending on durable goods marked the biggest increase in January. Consumers' spending ranks as the single biggest contributor to the U.S. economy, accounting for as much as two-thirds of growth.
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Private
industries |
Goods-producing
industries |
Services |
Government |
|
-0.14% |
2.69% |
-2.05% |
-0.97% |
0.32% |
3.58% |
0.24% |
-2.33% |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
|
The growth in Wages has accelerated, led by highest increase in Services-producing industries by 0.32 %, salaries in Government Sector grew as well, along side hefty wage increase, employers have paid more for pensions and insurance benefits in January.
Higher government payments for social programs such as Medicaid and unemployment compensation, lifted January's personal income.
Americans earned and spend less in the fourth quarter, consumer spending fell by -0.8 % as income declines.
Consumer spending is the single largest contributor to U.S. growth, accounting for as much as two-thirds of economic activity. In the fourth quarterpersonal income dropped by -6.8 %, the savings rate was at 13 %.
For the year 2021, real disposable income (Inflation-adjusted disposable income) fell -2.7 %, despite growing personal income. Consumer spending grew as well by 3.3 % , while income grew 6.1 %, savings rate was 16.3 %.
|
| |
Compensation |
|
|
Compensation |
|
|
Compensation of employees
Compensation of employees
grew by 0.03 % from Dec. 2020 and
advanced by 1.78 % from Dec. 2019, while wage & salary disbursements
fell by -0.08 % sequentially and
grew by 1.91 % from same month year ago, now representing 81.54
% of total compensation of employees. |
|
|
Supplements to Wages
Supplements to wages & salaries now representing 18.46
% of total compensation of employees with an
increase of 0.53 % from Dec. 2020 and an
increase by 1.17 % from Dec. 2019.
|
| Compensation |
Compensation of employees
Compensation of employees
grew by 0.03 % from Dec. 2020 and
advanced by 1.78 % from Dec. 2019, while wage & salary disbursements
fell by -0.08 % sequentially and
grew by 1.91 % from same month year ago, now representing 81.54
% of total compensation of employees. |
| Compensation |
Supplements to Wages
Supplements to wages & salaries now representing 18.46
% of total compensation of employees with an
increase of 0.53 % from Dec. 2020 and an
increase by 1.17 % from Dec. 2019. |
| |
|
Wage
& salary disbursements |
| Wages
& Salaries from private industries
fell by
-0.14 % sequentially and
grew by
2.69 % from same month year ago, now representing 85.08
% of total wage & salary disbursements, while
Wages & Salaries from government
grew by
0.24 % from Dec. 2020 and
decreased by
-2.33 % from Dec. 2019, now representing
14.92
% of total wage & salary disbursements. |
|
|
Personal Income Receipts On Assets |
|
|
Capital Consumption |
|
|
|
Interest & Other
Personal interest income
went up by
0.36 % sequentially while Personal dividend income
fell by
-6.44 % from Dec. 2020. Compare to same quarter
a year ago, personal interest income
fell by
-6.47 % and personal dividend income
fell by
-3.32 %.
Personal interest payments excluding mortgage interests
increased by
1.34 % sequentially and
fell by
-28.37 % from same month year ago. |
|
|
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.68 % sequentially and
fell by
-2.96 % from same month year ago, now representing 7.60
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.72 % from Dec. 2020 and
increased by
2.30 % from same month year ago.
|
| Personal Income Receipts On Assets |
Interest & Other
Personal interest income
went up by
0.36 % sequentially while Personal dividend income
fell by
-6.44 % from Dec. 2020. Compare to same quarter
a year ago, personal interest income
fell by
-6.47 % and personal dividend income
fell by
-3.32 %.
Personal interest payments excluding mortgage interests
increased by
1.34 % sequentially and
fell by
-28.37 % from same month year ago. |
| Capital Consumption |
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.68 % sequentially and
fell by
-2.96 % from same month year ago, now representing 7.60
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.72 % from Dec. 2020 and
increased by
2.30 % from same month year ago. |
Personal
Income & Its Disposition
(Monthly at Annual rates,
in Billions $) |
|
Jan. 2021
adv. |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
| Personal income |
|
21,453.9 |
19,568.5 |
19,493.3 |
19,725.9 |
19,804.2 |
19,492.8 |
|
Compensation of employees, received |
|
11,854.9 |
11,851.4 |
11,784.9 |
11,728.0 |
11,512.9 |
11,401.0 |
| Wage
& salary disbursements |
|
9,667.0 |
9,674.9 |
9,622.0 |
9,576.9 |
9,379.4 |
9,281.8 |
| Private
industries |
|
8,224.8 |
8,236.1 |
8,185.8 |
8,141.2 |
7,932.1 |
7,832.8 |
| Goods-producing
industries |
|
1,544.8 |
1,577.2 |
1,569.2 |
1,555.1 |
1,496.8 |
1,492.5 |
|
Manufacturing |
|
896.2 |
958.1 |
955.2 |
946.3 |
886.8 |
883.9 |
|
Services-producing industries |
|
6,680.0 |
6,658.9 |
6,616.6 |
6,586.1 |
6,435.3 |
6,340.3 |
|
Trade, transportation, & utilities |
|
1,498.6 |
1,505.1 |
1,495.2 |
1,490.6 |
1,472.4 |
1,429.7 |
|
Other services-producing industries |
|
5,181.4 |
5,153.8 |
5,121.4 |
5,095.6 |
4,962.9 |
4,910.6 |
| Government |
|
1,442.2 |
1,438.8 |
1,436.3 |
1,435.7 |
1,447.3 |
1,449.0 |
|
Supplements to wages & salaries |
|
2,187.9 |
2,176.4 |
2,162.9 |
2,151.1 |
2,133.5 |
2,119.2 |
| Employer
contr. for employee pension & insur. |
|
1,509.4 |
1,498.5 |
1,487.9 |
1,477.1 |
1,468.5 |
1,458.6 |
| Employer
contr. for govt. social insurance |
|
678.4 |
677.9 |
675.0 |
674.0 |
665.0 |
660.5 |
|
Proprietors Income with invent. valu. |
|
1,630.7 |
1,641.8 |
1,766.5 |
1,923.7 |
1,910.3 |
1,661.9 |
| Farm |
|
55.2 |
72.2 |
82.7 |
144.6 |
69.9 |
76.6 |
| Nonfarm |
|
1,575.5 |
1,569.6 |
1,683.8 |
1,779.1 |
1,840.5 |
1,585.3 |
|
Rental Inc. with capital consumption adj. |
|
811.0 |
805.2 |
818.7 |
818.4 |
812.7 |
811.4 |
|
Personal income receipts on assets |
|
2,867.5 |
2,947.3 |
2,872.0 |
2,875.3 |
2,855.2 |
2,881.5 |
| Personal interest
income |
|
1,623.7 |
1,617.9 |
1,621.9 |
1,632.2 |
1,625.3 |
1,648.5 |
| Personal dividend
income |
|
1,243.8 |
1,329.4 |
1,250.0 |
1,243.1 |
1,229.9 |
1,233.0 |
|
Personal current transfer receipts |
|
5,780.6 |
3,801.9 |
3,723.0 |
3,847.6 |
4,157.5 |
4,170.4 |
|
Government social benefits to persons |
|
5,734.1 |
3,755.5 |
3,676.8 |
3,801.5 |
4,111.6 |
4,124.5 |
| Old-age,
disability, & health insurance benefits |
|
1,104.6 |
1,091.7 |
1,091.4 |
1,093.2 |
1,085.2 |
1,082.1 |
| Government
unemployment insurance benefits |
|
873.9 |
867.3 |
860.4 |
854.0 |
848.1 |
842.6 |
| Other |
|
698.0 |
671.9 |
666.9 |
669.2 |
703.2 |
706.7 |
|
Other current transfers, from business |
|
-46.6 |
-46.4 |
-46.2 |
-46.1 |
364.8 |
633.5 |
|
Contributions for govt. social insurance |
|
-1,490.8 |
-1,479.1 |
-1,471.8 |
-1,467.1 |
-1,444.6 |
-1,433.2 |
| Personal current taxes |
|
2,236.2 |
2,229.9 |
2,215.7 |
2,210.7 |
-2,214.9 |
-2,189.8 |
| Disposable personal
income |
|
-19,217.7 |
-17,338.6 |
-17,277.6 |
-17,515.2 |
17,589.2 |
17,303.0 |
| Personal outlays |
|
15,287.6 |
14,960.8 |
15,057.2 |
15,135.4 |
-15,076.9 |
-14,868.4 |
|
Personal consumption expenditures |
|
5,069.7 |
4,810.2 |
4,876.5 |
4,925.1 |
14,578.4 |
14,369.6 |
| Goods |
|
5.1 |
4.8 |
4.9 |
4.9 |
4,921.3 |
4,825.6 |
| Durable
goods |
|
1,860.3 |
1,725.1 |
1,757.5 |
1,788.9 |
1,792.6 |
1,739.2 |
| Nondurable
goods |
|
3,209.4 |
3,085.0 |
3,119.0 |
3,136.1 |
3,128.7 |
3,086.5 |
| Services |
|
9,747.1 |
9,683.6 |
9,690.3 |
9,715.5 |
9,657.1 |
9,544.0 |
|
Personal interest payments |
|
265.4 |
261.9 |
289.2 |
293.6 |
297.0 |
291.7 |
|
Personal current transfer payments |
|
205.5 |
205.2 |
201.1 |
201.3 |
201.6 |
207.1 |
| To government |
|
114.0 |
113.8 |
113.6 |
113.3 |
113.1 |
113.0 |
| To the rest
of the world |
|
91.4 |
91.4 |
87.6 |
87.9 |
88.5 |
94.1 |
| Personal saving |
|
3.9 |
2.4 |
2.2 |
2.4 |
2,512.3 |
2,434.6 |
| Personal saving as
a percentage of disposable personal income % |
|
20.50 % |
13.70 % |
12.90 % |
13.60 % |
14.30 % |
14.10 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
13,928.5 |
14,056.6 |
14,118.0 |
14,217.2 |
14,010.0 |
13,728.1 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
58,036 |
52,385 |
52,225 |
52,965 |
53,214 |
52,375 |
| Chained ($) dollars Y 2000 |
|
51,576 |
46,704 |
46,754 |
47,424 |
47,650 |
46,925 |
| Population (midperiod,
millions) |
|
331.13 |
330.98 |
330.83 |
330.69 |
330.54 |
330.37 |
Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %) |
Jan. 2021
rest. |
Dec. 2020
rest. |
Nov. 2020
rest. |
Oct. 2020
rest. |
Sep. 2020
rest. |
Aug. 2020
rest. |
| Personal income |
10 % |
0.6 % |
-1.1 % |
-0.7 % |
0.9 % |
-2.7 % |
| Compensation of employees,
received |
0.7 % |
0.5 % |
0.4 % |
0.7 % |
0.8 % |
1.2 % |
| Wage & salary disbursements |
0.7 % |
0.5 % |
0.4 % |
0.7 % |
0.8 % |
1.3 % |
| Supplements to wages &
salaries |
0.8 % |
0.6 % |
0.5 % |
0.5 % |
0.5 % |
0.8 % |
| Proprietors' Income |
-0.5 % |
-4.5 % |
-8.5 % |
1.2 % |
5.1 % |
2.7 % |
| Rental Income
of Persons |
1.1 % |
-0.2 % |
0.5 % |
0.5 % |
1 % |
1.2 % |
| Personal income receipts
on assets |
-3 % |
2 % |
0.6 % |
0.7 % |
-0.1 % |
0.2 % |
| Personal interest income |
- % |
- % |
0.3 % |
0.5 % |
-0.3 % |
0.9 % |
| Personal dividend income |
-6.7 % |
4.6 % |
1.1 % |
1 % |
0.1 % |
-0.7 % |
| Personal current
transfer receipts |
52 % |
2.3 % |
-3.3 % |
-6.2 % |
-0.1 % |
-14.8 % |
| Less:
Contributions for social insurance |
1.5 % |
0.4 % |
0.3 % |
0.4 % |
0.6 % |
0.9 % |
| Less: Personal
current taxes |
-0.4 % |
0.2 % |
-0.2 % |
0.2 % |
0.9 % |
1.3 % |
| Equals: Disposable personal
income |
11.4 % |
0.6 % |
-1.2 % |
-0.8 % |
0.9 % |
-3.2 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
2.4 % |
-0.2 % |
-0.4 % |
0.5 % |
- % |
- % |
| Goods |
5.8 % |
-0.8 % |
-1 % |
- % |
1.4 % |
1 % |
| Durable goods |
8.4 % |
-1 % |
-1.7 % |
0.6 % |
2 % |
0.2 % |
| Nondurable goods |
4.3 % |
-0.7 % |
-0.6 % |
-0.3 % |
3 % |
0.9 % |
| Services |
0.7 % |
0.1 % |
-0.2 % |
0.7 % |
1.5 % |
-0.1 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
11 % |
0.2 % |
-1.3 % |
-0.8 % |
1 % |
0.9 % |
Personal
Income & Its Disposition
(Quarterly,
in Billions $) |
|
IV Q. 2020
adv. |
IV Q. 2020
adv. |
III Q. 2020
adv. |
III Q. 2020
adv. |
II Q. 2020
adv. |
II Q. 2020
adv. |
| Personal income |
|
19,504.4 |
19,915.8 |
19,915.8 |
19,926.4 |
19,856.0 |
20,396.6 |
|
Compensation of employees, received |
|
11,707.8 |
11,537.3 |
11,537.3 |
11,533.0 |
11,407.6 |
10,880.3 |
| Wage
& salary disbursements |
|
9,549.4 |
9,409.9 |
9,409.9 |
9,405.9 |
9,287.9 |
8,844.0 |
| Private
industries |
|
8,112.4 |
7,967.5 |
7,967.5 |
7,964.0 |
7,843.6 |
7,422.4 |
| Goods-producing
industries |
|
1,529.5 |
1,537.0 |
1,537.0 |
1,537.3 |
1,488.8 |
1,406.5 |
|
Manufacturing |
|
888.8 |
937.5 |
937.5 |
937.4 |
881.2 |
826.2 |
|
Services-producing industries |
|
6,582.9 |
6,430.5 |
6,430.5 |
6,426.7 |
6,354.8 |
6,015.9 |
|
Trade, transportation, & utilities |
|
1,472.1 |
1,470.1 |
1,470.1 |
1,469.7 |
1,446.5 |
1,348.2 |
|
Other services-producing industries |
|
5,110.7 |
4,960.4 |
4,960.4 |
4,957.1 |
4,908.4 |
4,667.7 |
| Government |
|
1,437.0 |
1,442.4 |
1,442.4 |
1,441.9 |
1,444.3 |
1,421.6 |
|
Supplements to wages & salaries |
|
2,158.4 |
2,127.4 |
2,127.4 |
2,127.1 |
2,119.7 |
2,036.3 |
| Employer
contr. for employee pension & insur. |
|
1,487.8 |
1,457.9 |
1,457.9 |
1,457.8 |
1,458.4 |
1,400.1 |
| Employer
contr. for govt. social insurance |
|
670.6 |
669.5 |
669.5 |
669.2 |
661.3 |
636.2 |
|
Proprietors Income with invent. valu. |
|
1,757.4 |
1,803.0 |
1,803.0 |
1,804.5 |
1,810.8 |
1,511.9 |
| Farm |
|
100.0 |
62.8 |
62.8 |
62.9 |
63.2 |
38.9 |
| Nonfarm |
|
1,657.4 |
1,740.2 |
1,740.2 |
1,741.6 |
1,747.6 |
1,473.0 |
|
Rental Inc. with capital consumption adj. |
|
804.9 |
804.4 |
804.4 |
806.0 |
805.1 |
796.1 |
|
Personal income receipts on assets |
|
2,902.3 |
2,852.3 |
2,852.3 |
2,862.8 |
2,863.5 |
2,910.2 |
| Personal interest
income |
|
1,622.3 |
1,619.8 |
1,619.8 |
1,629.0 |
1,630.1 |
1,637.0 |
| Personal dividend
income |
|
1,280.0 |
1,232.6 |
1,232.6 |
1,233.8 |
1,233.4 |
1,273.2 |
|
Personal current transfer receipts |
|
3,794.9 |
4,369.3 |
4,369.3 |
4,370.0 |
4,403.3 |
5,678.0 |
|
Government social benefits to persons |
|
3,748.6 |
4,323.4 |
4,323.4 |
4,324.1 |
4,357.4 |
5,627.4 |
| Old-age,
disability, & health insurance benefits |
|
684.5 |
683.7 |
683.7 |
691.3 |
1,081.8 |
1,075.4 |
| Government
unemployment insurance benefits |
|
296.4 |
290.6 |
290.6 |
290.6 |
771.5 |
1,084.6 |
| Other |
|
668.4 |
795.8 |
795.8 |
795.5 |
1,634.0 |
3,665.0 |
|
Other current transfers, from business |
|
-46.2 |
-45.9 |
-45.9 |
-45.9 |
45.9 |
50.6 |
|
Contributions for govt. social insurance |
|
-1,462.9 |
-1,450.4 |
-1,450.4 |
-1,449.8 |
-1,434.4 |
-1,379.9 |
| Personal current taxes |
|
2,236.1 |
2,193.9 |
2,193.9 |
2,186.6 |
-2,191.8 |
-2,095.7 |
| Disposable personal
income |
|
-17,268.3 |
-17,721.9 |
-17,721.9 |
-17,739.8 |
17,664.2 |
18,300.9 |
| Personal outlays |
|
15,018.1 |
14,887.1 |
14,887.1 |
14,880.5 |
-14,881.5 |
-13,590.0 |
|
Personal consumption expenditures |
|
4,858.9 |
4,868.4 |
4,868.4 |
4,866.1 |
14,394.8 |
13,097.3 |
| Goods |
|
4,858.9 |
4,868.4 |
4,868.4 |
4,866.1 |
4,854.6 |
4,361.5 |
| Durable
goods |
|
1,750.6 |
1,753.0 |
1,753.0 |
1,753.7 |
1,753.0 |
1,478.3 |
| Nondurable
goods |
|
3,108.3 |
3,115.4 |
3,115.4 |
3,112.4 |
3,101.6 |
2,883.2 |
| Services |
|
9,683.5 |
9,533.2 |
9,533.2 |
9,528.1 |
9,540.2 |
8,735.8 |
|
Personal interest payments |
|
270.7 |
287.2 |
287.2 |
287.6 |
287.4 |
286.0 |
|
Personal current transfer payments |
|
205.0 |
198.4 |
198.4 |
198.7 |
199.3 |
206.6 |
| To government |
|
113.6 |
113.0 |
113.0 |
113.0 |
113.0 |
112.5 |
| To the rest
of the world |
|
91.4 |
85.5 |
85.5 |
85.8 |
86.3 |
94.1 |
| Personal saving |
|
2.3 |
2.8 |
2.8 |
2.9 |
2,782.7 |
4,711.0 |
| Personal saving as
a percentage of disposable personal income % |
|
13.00 % |
16.00 % |
16.00 % |
16.10 % |
15.80 % |
25.70 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
15,437.1 |
15,904.6 |
15,904.6 |
15,917.9 |
13,866.7 |
13,328.3 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
52,196 |
53,643 |
53,643 |
53,697 |
53,468 |
55,475 |
| Chained ($) dollars Y 2000 |
|
52,196 |
53,643 |
53,643 |
53,697 |
47,980 |
50,235 |
| Population (midperiod,
millions) |
|
330.84 |
330.37 |
330.37 |
330.37 |
330.37 |
329.90 |
Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %) |
IV Q. 2020
adv. |
IV Q. 2020
adv. |
III Q. 2020
adv. |
II Q. 2020
adv. |
II Q. 2020
adv. |
I Q. 2020
adv. |
| Personal income |
-6.8 % |
-11.3 % |
-10 % |
34.2 % |
2.1 % |
2 % |
| Compensation of employees,
received |
8.7 % |
20.3 % |
23.1 % |
-24.6 % |
0.2 % |
0.4 % |
| Wage & salary disbursements |
9.1 % |
21 % |
24.3 % |
-25.7 % |
- % |
0.1 % |
| Supplements to wages &
salaries |
6.9 % |
17.1 % |
18 % |
-19.3 % |
1.1 % |
1.7 % |
| Proprietors' Income |
-9.7 % |
102.2 % |
102.9 % |
-38.3 % |
1 % |
0.7 % |
| Rental Income
of Persons |
0.3 % |
4.3 % |
5.1 % |
-3.1 % |
4 % |
5.3 % |
| Personal income receipts
on assets |
7.2 % |
-7.7 % |
-6.4 % |
-9.6 % |
1 % |
2.1 % |
| Personal interest income |
0.6 % |
-4.1 % |
-1.9 % |
-9.8 % |
-2.6 % |
-0.9 % |
| Personal dividend income |
16.3 % |
-12.2 % |
-11.8 % |
-9.3 % |
6 % |
6.1 % |
| Personal current
transfer receipts |
-43.1 % |
-64.9 % |
-64.9 % |
848.5 % |
10.9 % |
8.7 % |
| Less:
Contributions for social insurance |
6 % |
16.3 % |
18.9 % |
-18.3 % |
3.4 % |
3.3 % |
| Less: Personal
current taxes |
8.4 % |
19.4 % |
18.3 % |
-25.1 % |
1.1 % |
3.4 % |
| Equals: Disposable personal
income |
-8.6 % |
-14.4 % |
-12.9 % |
44.3 % |
2.2 % |
1.9 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
-0.8 % |
55.2 % |
54.9 % |
-34.3 % |
-5.6 % |
-6.3 % |
| Goods |
-0.8 % |
55.2 % |
54.9 % |
-15.8 % |
-0.7 % |
-2.3 % |
| Durable goods |
-0.5 % |
97.7 % |
98 % |
-4.8 % |
-15.2 % |
-17.4 % |
| Nondurable goods |
-0.9 % |
36.3 % |
35.8 % |
-20.8 % |
7.4 % |
6.2 % |
| Services |
4.3 % |
16.2 % |
18.3 % |
-41.6 % |
-7.7 % |
-8.1 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
-10 % |
-17.4 % |
-16 % |
46.6 % |
0.9 % |
0.5 % |
Personal
Income & Its Disposition
(Annually,
in Billions $) |
|
2020
|
2019
|
2018
|
2017
|
2016
|
2015
|
| Personal income |
|
19,691.6 |
18,601.4 |
17,819.2 |
16,830.9 |
16,011.6 |
15,458.5 |
|
Compensation of employees, received |
|
11,449.5 |
11,420.4 |
10,928.5 |
10,407.2 |
10,101.3 |
9,693.1 |
| Wage
& salary disbursements |
|
9,331.9 |
9,297.4 |
8,888.5 |
8,453.8 |
8,189.2 |
7,854.8 |
| Private
industries |
|
7,886.3 |
7,845.7 |
7,485.9 |
7,108.1 |
6,878.1 |
6,580.3 |
| Goods-producing
industries |
|
1,502.5 |
1,532.8 |
1,471.6 |
1,390.3 |
1,351.0 |
1,308.1 |
|
Manufacturing |
|
886.9 |
908.4 |
883.2 |
846.4 |
829.4 |
806.7 |
|
Services-producing industries |
|
6,383.8 |
6,312.8 |
6,014.3 |
5,717.8 |
5,527.1 |
5,272.2 |
|
Trade, transportation, & utilities |
|
1,431.6 |
1,413.7 |
1,361.0 |
1,313.5 |
1,278.4 |
1,237.1 |
|
Other services-producing industries |
|
4,952.2 |
4,899.2 |
4,653.3 |
4,404.3 |
4,248.8 |
4,035.1 |
| Government |
|
1,445.6 |
1,451.7 |
1,402.6 |
1,345.7 |
1,311.1 |
1,274.5 |
|
Supplements to wages & salaries |
|
2,117.6 |
2,123.0 |
2,040.0 |
1,953.4 |
1,912.2 |
1,838.2 |
| Employer
contr. for employee pension & insur. |
|
1,457.0 |
1,473.2 |
1,417.2 |
1,348.1 |
1,325.4 |
1,270.5 |
| Employer
contr. for govt. social insurance |
|
660.5 |
649.9 |
622.8 |
605.3 |
586.7 |
567.7 |
|
Proprietors Income with invent. valu. |
|
1,694.6 |
1,657.8 |
1,588.8 |
1,500.9 |
1,417.5 |
1,376.8 |
| Farm |
|
64.5 |
31.9 |
27.2 |
38.9 |
27.8 |
39.9 |
| Nonfarm |
|
1,630.1 |
1,626.0 |
1,561.6 |
1,462.0 |
1,389.7 |
1,336.8 |
|
Rental Inc. with capital consumption adj. |
|
801.9 |
778.2 |
756.8 |
730.2 |
704.7 |
659.6 |
|
Personal income receipts on assets |
|
2,912.3 |
2,992.7 |
2,930.1 |
2,631.6 |
2,262.9 |
2,253.8 |
| Personal interest
income |
|
1,639.7 |
1,720.4 |
1,702.7 |
1,523.0 |
1,314.5 |
1,302.7 |
| Personal dividend
income |
|
1,272.6 |
1,272.3 |
1,227.5 |
1,108.6 |
948.4 |
951.1 |
|
Personal current transfer receipts |
|
4,269.4 |
3,171.7 |
2,971.5 |
2,859.7 |
2,775.4 |
2,678.6 |
|
Government social benefits to persons |
|
4,222.3 |
3,117.1 |
2,918.3 |
2,804.0 |
2,722.1 |
2,627.2 |
| Old-age,
disability, & health insurance benefits |
|
665.3 |
1,034.7 |
972.4 |
926.1 |
896.5 |
871.8 |
| Government
unemployment insurance benefits |
|
287.2 |
26.1 |
27.1 |
29.1 |
30.1 |
32.2 |
| Other |
|
951.8 |
1,009.4 |
960.6 |
955.2 |
95.7 |
90.3 |
|
Other current transfers, from business |
|
-47.2 |
54.6 |
53.2 |
55.7 |
53.3 |
51.4 |
|
Contributions for govt. social insurance |
|
-1,436.1 |
-1,419.5 |
-1,356.5 |
-1,298.6 |
-1,250.3 |
-1,203.5 |
| Personal current taxes |
|
2,194.2 |
-2,181.5 |
-2,077.6 |
-2,034.6 |
-1,965.6 |
-1,938.7 |
| Disposable personal
income |
|
-17,497.4 |
16,419.9 |
15,741.5 |
14,796.3 |
14,045.9 |
13,519.8 |
| Personal outlays |
|
14,649.6 |
-15,121.1 |
-14,531.1 |
-13,809.5 |
-13,227.1 |
-12,736.2 |
|
Personal consumption expenditures |
|
4,660.4 |
14,561.2 |
13,998.7 |
13,321.4 |
12,757.9 |
12,283.7 |
| Goods |
|
4,660.4 |
4,505.3 |
4,364.8 |
4,156.1 |
4,098.4 |
4,012.1 |
| Durable
goods |
|
1,619.6 |
1,526.6 |
1,475.6 |
1,406.5 |
1,402.9 |
1,355.2 |
| Nondurable
goods |
|
3,040.8 |
2,978.6 |
2,889.2 |
2,749.6 |
2,695.5 |
2,656.9 |
| Services |
|
9,486.3 |
10,055.9 |
9,633.9 |
9,165.3 |
8,659.6 |
8,271.6 |
|
Personal interest payments |
|
299.2 |
360.0 |
336.7 |
293.9 |
274.9 |
263.8 |
|
Personal current transfer payments |
|
203.7 |
199.8 |
195.8 |
194.2 |
194.3 |
188.8 |
| To government |
|
112.8 |
108.8 |
106.9 |
107.3 |
108.8 |
103.3 |
| To the rest
of the world |
|
90.9 |
91.0 |
88.9 |
86.9 |
85.5 |
85.4 |
| Personal saving |
|
2.8 |
1,298.8 |
1,210.4 |
986.8 |
818.8 |
783.6 |
| Personal saving as
a percentage of disposable personal income % |
|
16.30 % |
7.90 % |
7.70 % |
6.70 % |
5.80 % |
5.80 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
15,740.1 |
14,071.2 |
13,729.6 |
13,171.4 |
12,685.5 |
12,343.3 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
52,997 |
49,980 |
48,075 |
45,390 |
43,433 |
42,026 |
| Chained ($) dollars Y 2000 |
|
47,675 |
45,580 |
44,455 |
42,791 |
39,226 |
38,368 |
| Population (midperiod,
millions) |
|
330.16 |
328.53 |
327.44 |
325.98 |
323.39 |
321.70 |
Annual Growth in Personal Income & Its Disposition
(year on year, in %) |
Jan. 2021
rest. |
Dec. 2020
rest. |
Nov. 2020
rest. |
Oct. 2020
rest. |
Sep. 2020
rest. |
Aug. 2020
rest. |
| Personal income |
10 % |
0.6 % |
-1.1 % |
-0.7 % |
0.9 % |
-2.7 % |
| Compensation of employees,
received |
0.7 % |
0.5 % |
0.4 % |
0.7 % |
0.8 % |
1.2 % |
| Wage & salary disbursements |
0.7 % |
0.5 % |
0.4 % |
0.7 % |
0.8 % |
1.3 % |
| Supplements to wages &
salaries |
0.8 % |
0.6 % |
0.5 % |
0.5 % |
0.5 % |
0.8 % |
| Proprietors' Income |
-0.5 % |
-4.5 % |
-8.5 % |
1.2 % |
5.1 % |
2.7 % |
| Rental Income
of Persons |
1.1 % |
-0.2 % |
0.5 % |
0.5 % |
1 % |
1.2 % |
| Personal income receipts
on assets |
-3 % |
2 % |
0.6 % |
0.7 % |
-0.1 % |
0.2 % |
| Personal interest income |
- % |
- % |
0.3 % |
0.5 % |
-0.3 % |
0.9 % |
| Personal dividend income |
-6.7 % |
4.6 % |
1.1 % |
1 % |
0.1 % |
-0.7 % |
| Personal current
transfer receipts |
52 % |
2.3 % |
-3.3 % |
-6.2 % |
-0.1 % |
-14.8 % |
| Less:
Contributions for social insurance |
1.5 % |
0.4 % |
0.3 % |
0.4 % |
0.6 % |
0.9 % |
| Less: Personal
current taxes |
-0.4 % |
0.2 % |
-0.2 % |
0.2 % |
0.9 % |
1.3 % |
| Equals: Disposable personal
income |
11.4 % |
0.6 % |
-1.2 % |
-0.8 % |
0.9 % |
-3.2 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
2.4 % |
-0.2 % |
-0.4 % |
0.5 % |
- % |
- % |
| Goods |
5.8 % |
-0.8 % |
-1 % |
- % |
1.4 % |
1 % |
| Durable goods |
8.4 % |
-1 % |
-1.7 % |
0.6 % |
2 % |
0.2 % |
| Nondurable goods |
4.3 % |
-0.7 % |
-0.6 % |
-0.3 % |
3 % |
0.9 % |
| Services |
0.7 % |
0.1 % |
-0.2 % |
0.7 % |
1.5 % |
-0.1 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
11 % |
0.2 % |
-1.3 % |
-0.8 % |
1 % |
0.9 % |
Source: Department of Commerce, Bea.gov
|
|
