CSIMarket
 

Consumer spending loses momentum in January 2024

Personal Income and Its Disposition Report U.S. Economy

Modified 2024-03-11T19:54:50+00:00
Goran Soko / CSIMarket.com Contributer


Consumer spending rose by the smallest amount in three months during January 2024, government data showed, in a further sign of erosion in spending momentum.
In January 2024 Personal income jumped by 1 % on the seasonally adjusted basis, reported by the Commerce Department at the annualized rate of $23.62 trillion.
For economists, the big question is: Will consumers will increase spending in coming months? The consumer sector has to be an important driver for GDP growth.

Meanwhile, disposable income advanced by 0.3 %, less than overall income, due to 6% increase in taxes, averaging income $61,443 at the annualized rate for every American.

Wages have increased on the same pace like in previous month, with biggest gain in Services-producing industries by 0.71 %, wages in Government Sector grew as well, along side hefty wage increase, employers have paid more for pensions and insurance benefits in January 2024.


Higher government payments for social programs such as Medicaid and unemployment compensation, lifted January 2024's personal income.


Consumer spending increased by 0.2 %
At least through January 2024, households continued to spend, but rising prices are eating up a lot of that money.

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Private industries
Goods-producing industries
Services
Government
0.62% 2.96% 0.22% 2.93% 0.71% 2.97% 0.42% 9.09%
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y













    Compensation       Compensation
Compensation of employees
Compensation of employees grew by 0.60 % from Dec. 2023 and advanced by 3.56 % from Jan. 2023, while wage & salary disbursements rose by 0.59 % sequentially and grew by 3.83 % from same month year ago, now representing 82.93 % of total compensation of employees.
  Supplements to Wages

Supplements to wages & salaries now representing 17.07 % of total compensation of employees with an increase of 0.65 % from Dec. 2023 and an increase by 2.27 % from Jan. 2023.

  Compensation
Compensation of employees
Compensation of employees grew by 0.60 % from Dec. 2023 and advanced by 3.56 % from Jan. 2023, while wage & salary disbursements rose by 0.59 % sequentially and grew by 3.83 % from same month year ago, now representing 82.93 % of total compensation of employees.


  Compensation
Supplements to Wages

Supplements to wages & salaries now representing 17.07 % of total compensation of employees with an increase of 0.65 % from Dec. 2023 and an increase by 2.27 % from Jan. 2023.

   
Wage & salary disbursements
Wages & Salaries from private industries rose by 0.62 % sequentially and grew by 2.96 % from same month year ago, now representing 85.12 % of total wage & salary disbursements, while Wages & Salaries from government grew by 0.42 % from Dec. 2023 and increased by 9.09 % from Jan. 2023, now representing 14.88 % of total wage & salary disbursements. 

   Personal Income Receipts On Assets    Capital Consumption
Interest & Other
Personal interest income fell by -0.11 % sequentially while Personal dividend income grew by 4.07 % from Dec. 2023. Compare to same quarter a year ago, personal interest income went up by 1.38 % and personal dividend income grew by 18.18 %.
Personal interest payments excluding mortgage interests increased by 1.63 % sequentially and advanced by 43.21 % from same month year ago.
Proprietors Income & Capital Consumption
Proprietors Income fell by -0.36 % sequentially and fell by -0.81 % from same month year ago, now representing 7.97 % of total personal income.
Rental Income with capital consumption adjustment grew by 1.79 % from Dec. 2023 and increased by 21.47 % from same month year ago.
 Personal Income Receipts On Assets
Interest & Other
Personal interest income fell by -0.11 % sequentially while Personal dividend income grew by 4.07 % from Dec. 2023. Compare to same quarter a year ago, personal interest income went up by 1.38 % and personal dividend income grew by 18.18 %.
Personal interest payments excluding mortgage interests increased by 1.63 % sequentially and advanced by 43.21 % from same month year ago.


 Capital Consumption
Proprietors Income & Capital Consumption
Proprietors Income fell by -0.36 % sequentially and fell by -0.81 % from same month year ago, now representing 7.97 % of total personal income.
Rental Income with capital consumption adjustment grew by 1.79 % from Dec. 2023 and increased by 21.47 % from same month year ago.





Personal Income & Its Disposition
(Monthly at Annual rates, in Billions $)
  Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
Sep. 2023
adv.
Aug. 2023
adv.
Personal income
23,615.4 23,358.8 23,298.8 23,242.9 23,166.1 23,088.3
  Compensation of employees, received
14,653.4 14,565.6 14,510.5 14,442.9 14,419.1 14,366.2
   Wage & salary disbursements
12,152.4 12,080.8 12,034.3 11,975.9 11,960.3 11,916.2
    Private industries
10,344.6 10,280.5 10,245.7 10,196.2 10,202.5 10,171.0
     Goods-producing industries
1,892.4 1,888.3 1,894.3 1,876.6 1,881.1 1,874.4
      Manufacturing
1,109.6 1,104.4 1,111.4 1,098.1 1,106.0 1,103.0
     Services-producing industries
8,452.2 8,392.2 8,351.4 8,319.6 8,321.4 8,296.7
      Trade, transportation, & utilities
1,844.7 1,832.1 1,823.9 1,819.8 1,841.6 1,833.0
      Other services-producing industries
6,607.5 6,560.1 6,527.5 6,499.8 6,479.9 6,463.7
    Government
1,807.8 1,800.3 1,788.6 1,779.7 1,757.8 1,745.2
   Supplements to wages & salaries
2,501.0 2,484.8 2,476.2 2,467.0 2,458.8 2,450.0
    Employer contr. for employee pension & insur.
1,658.6 1,651.2 1,645.8 1,640.7 1,633.2 1,627.2
    Employer contr. for govt. social insurance
842.4 833.6 830.4 826.3 825.6 822.7
  Proprietors Income with invent. valu.
1,882.1 1,888.9 1,889.8 1,891.3 1,854.7 1,846.9
   Farm
37.1 40.8 42.9 49.3 52.3 53.4
   Nonfarm
1,845.1 1,848.1 1,846.9 1,842.0 1,802.4 1,793.5
  Rental Inc. with capital consumption adj.
1,006.9 989.2 986.9 986.1 981.7 974.6
  Personal income receipts on assets
3,759.0 3,685.4 3,674.6 3,665.2 3,643.5 3,624.2
   Personal interest income
1,828.1 1,830.1 1,815.4 1,818.3 1,808.4 1,790.8
   Personal dividend income
1,930.9 1,855.4 1,859.2 1,846.9 1,835.1 1,833.4
  Personal current transfer receipts
4,178.7 4,069.4 4,070.1 4,082.5 4,090.1 4,093.7
   Government social benefits to persons
4,057.6 3,962.5 3,960.2 3,973.1 3,981.3 3,989.0
    Old-age, disability, & health insurance benefits
1,421.5 1,373.1 1,370.6 1,378.5 1,364.1 1,361.8
    Government unemployment insurance benefits
958.5 953.1 951.3 949.6 947.9 946.3
    Other
866.7 861.7 862.8 861.3 875.0 880.5
   Other current transfers, from business
-121.1 -106.9 -109.9 -109.3 -108.9 -104.7
  Contributions for govt. social insurance
-1,864.7 -1,839.7 -1,833.1 -1,824.9 -1,823.1 -1,817.2
Personal current taxes
2,958.7 2,777.2 2,769.0 2,791.2 2,838.9 2,817.2
Disposable personal income
-20,656.7 -20,581.6 -20,529.8 -20,451.7 -20,327.3 -20,271.1
Personal outlays
19,877.4 19,815.0 19,680.2 19,683.1 19,639.5 19,464.5
  Personal consumption expenditures
6,208.3 6,297.0 6,238.7 6,258.3 6,272.9 6,230.4
    Goods
6.2 6.3 6.2 6.3 6.3 6.2
     Durable goods
2,176.0 2,231.5 2,206.8 2,204.0 2,221.5 2,199.3
     Nondurable goods
4,032.3 4,065.5 4,031.9 4,054.4 4,051.3 4,031.1
    Services
12,845.9 12,704.7 12,629.2 12,606.4 12,580.5 12,484.3
  Personal interest payments
573.4 564.2 563.8 571.4 539.6 503.6
  Personal current transfer payments
249.8 249.0 248.6 247.0 246.5 246.2
    To government
132.9 132.5 132.1 131.8 131.5 131.2
    To the rest of the world
116.9 116.5 116.5 115.2 115.0 115.0
Personal saving
0.8 0.8 0.8 0.8 0.7 0.8
Personal saving as a percentage of disposable personal income %   3.80 % 3.70 % 4.10 % 3.80 % 3.40 % 4.00 %
Disposable personal income:  
Total, billions of chained ($) dollars Y 2000   15,948.8 15,886.5 15,863.0 15,785.0 15,720.3 15,708.9
Per capita:  
Current dollars ($)   61,443 61,242 61,114 60,898 60,556 60,421
Chained ($) dollars Y 2000   50,417 50,438 50,417 50,169 49,904 49,969
Population (midperiod, millions)   336.19 336.07 335.93 335.84 335.68 335.50





Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %)
Jan. 2024
rest.
Dec. 2023
rest.
Nov. 2023
rest.
Oct. 2023
rest.
Sep. 2023
rest.
Aug. 2023
rest.
Personal income 1 % 0.3 % 0.4 % 0.2 % 0.3 % 0.4 %
Compensation of employees, received 0.4 % 0.4 % 0.5 % 0.2 % 0.4 % 0.5 %
Wage & salary disbursements 0.4 % 0.4 % 0.5 % 0.1 % 0.4 % 0.5 %
Supplements to wages & salaries 0.6 % 0.3 % 0.4 % 0.3 % 0.4 % 0.4 %
Proprietors' Income -0.2 % - % 0.4 % 0.4 % 0.4 % 0.6 %
Rental Income of Persons 1.6 % 0.2 % 0.2 % 0.5 % 0.7 % 0.8 %
Personal income receipts on assets 2.1 % 0.3 % 0.7 % 0.8 % 0.5 % 0.5 %
Personal interest income 0.1 % 0.8 % 0.8 % 0.7 % 1 % 1 %
Personal dividend income 4.1 % -0.2 % 0.7 % 0.8 % 0.1 % 0.1 %
Personal current transfer receipts 2.6 % - % -0.4 % -0.1 % -0.1 % -0.1 %
Less: Contributions for social insurance 1.1 % 0.4 % 0.5 % 0.1 % 0.3 % 0.4 %
Less: Personal current taxes 6 % 0.3 % 0.2 % -0.2 % 0.8 % 1.5 %
Equals: Disposable personal income 0.3 % 0.3 % 0.4 % 0.3 % 0.3 % 0.3 %
             
Addenda:            
Personal consumption expenditures 0.2 % 0.7 % 0.4 % 0.2 % 0.7 % 0.4 %
Goods -1.2 % 0.9 % -0.1 % -0.2 % 0.7 % 0.7 %
 Durable goods -1.9 % 1.1 % 0.7 % -0.5 % 1 % -0.3 %
 Nondurable goods -0.8 % 0.8 % -0.6 % - % 0.5 % 1.3 %
Services 1 % 0.6 % 0.6 % 0.4 % 0.8 % 0.3 %
Based on chained (2000) dollar measures            
Real disposable personal income - % 0.1 % 0.5 % 0.3 % -0.1 % -0.1 %





Personal Income & Its Disposition
(Quarterly, in Billions $)
  II Q. 2023
adv.
II Q. 2023
adv.
I Q. 2023
adv.
II Q. 2023
adv.
II Q. 2023
adv.
I Q. 2023
adv.
Personal income
22,755.3 22,755.3 22,647.2 22,755.3 22,755.3 22,647.2
  Compensation of employees, received
14,167.3 14,167.3 14,180.8 14,167.3 14,167.3 14,180.8
   Wage & salary disbursements
11,701.3 11,701.3 11,728.7 11,701.3 11,701.3 11,728.7
    Private industries
10,006.1 10,006.1 10,061.7 10,006.1 10,006.1 10,061.7
     Goods-producing industries
1,840.6 1,840.6 1,840.4 1,840.6 1,840.6 1,840.4
      Manufacturing
1,075.1 1,075.1 1,080.8 1,075.1 1,075.1 1,080.8
     Services-producing industries
8,165.5 8,165.5 8,221.4 8,165.5 8,165.5 8,221.4
      Trade, transportation, & utilities
1,789.0 1,789.0 1,812.0 1,789.0 1,789.0 1,812.0
      Other services-producing industries
6,376.5 6,376.5 6,409.3 6,376.5 6,376.5 6,409.3
    Government
1,695.2 1,695.2 1,667.0 1,695.2 1,695.2 1,667.0
   Supplements to wages & salaries
2,466.0 2,466.0 2,452.1 2,466.0 2,466.0 2,452.1
    Employer contr. for employee pension & insur.
1,668.7 1,668.7 1,652.0 1,668.7 1,668.7 1,652.0
    Employer contr. for govt. social insurance
797.3 797.3 800.1 797.3 797.3 800.1
  Proprietors Income with invent. valu.
1,905.6 1,905.6 1,887.4 1,905.6 1,905.6 1,887.4
   Farm
86.0 86.0 95.3 86.0 86.0 95.3
   Nonfarm
1,819.6 1,819.6 1,792.2 1,819.6 1,819.6 1,792.2
  Rental Inc. with capital consumption adj.
864.0 864.0 841.7 864.0 864.0 841.7
  Personal income receipts on assets
3,494.5 3,494.5 3,454.1 3,494.5 3,494.5 3,454.1
   Personal interest income
1,832.5 1,832.5 1,808.2 1,832.5 1,832.5 1,808.2
   Personal dividend income
1,662.1 1,662.1 1,645.9 1,662.1 1,662.1 1,645.9
  Personal current transfer receipts
4,073.8 4,073.8 4,037.7 4,073.8 4,073.8 4,037.7
   Government social benefits to persons
4,001.6 4,001.6 3,966.4 4,001.6 4,001.6 3,966.4
    Old-age, disability, & health insurance benefits
873.8 873.8 813.1 873.8 873.8 813.1
    Government unemployment insurance benefits
334.0 334.0 332.6 334.0 334.0 332.6
    Other
616.8 616.8 659.0 616.8 616.8 659.0
   Other current transfers, from business
-72.2 -72.2 -71.3 -72.2 -72.2 -71.3
  Contributions for govt. social insurance
-1,749.9 -1,749.9 -1,754.4 -1,749.9 -1,749.9 -1,754.4
Personal current taxes
2,894.0 2,894.0 2,940.0 2,894.0 2,894.0 2,940.0
Disposable personal income
-19,861.3 -19,861.3 -19,707.2 -19,861.3 -19,861.3 -19,707.2
Personal outlays
18,991.7 18,991.7 18,761.0 18,991.7 18,991.7 18,761.0
  Personal consumption expenditures
6,095.4 6,095.4 6,085.8 6,095.4 6,095.4 6,085.8
    Goods
6,095.4 6,095.4 6,085.8 6,095.4 6,095.4 6,085.8
     Durable goods
2,264.0 2,264.0 2,262.0 2,264.0 2,264.0 2,262.0
     Nondurable goods
3,831.3 3,831.3 3,823.8 3,831.3 3,831.3 3,823.8
    Services
12,209.9 12,209.9 12,009.5 12,209.9 12,209.9 12,009.5
  Personal interest payments
462.6 462.6 442.1 462.6 462.6 442.1
  Personal current transfer payments
223.8 223.8 223.6 223.8 223.8 223.6
    To government
118.5 118.5 117.8 118.5 118.5 117.8
    To the rest of the world
105.3 105.3 105.8 105.3 105.3 105.8
Personal saving
0.9 0.9 0.9 0.9 0.9 0.9
Personal saving as a percentage of disposable personal income %   4.40 % 4.40 % 4.80 % 4.40 % 4.40 % 4.80 %
Disposable personal income:  
Total, billions of chained ($) dollars Y 2000   15,644.4 15,644.4 15,622.2 15,644.4 15,644.4 15,622.2
Per capita:  
Current dollars ($)   59,284 59,284 58,891 59,284 59,284 58,891
Chained ($) dollars Y 2000   59,284 59,284 58,891 59,284 59,284 58,891
Population (midperiod, millions)   335.02 335.02 334.64 335.02 335.02 334.64





Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %)
II Q. 2023
adv.
II Q. 2023
adv.
I Q. 2023
adv.
II Q. 2023
adv.
II Q. 2023
adv.
I Q. 2023
adv.
Personal income 4.3 % 4.3 % 5.1 % 4.3 % 4.3 % 5.1 %
Compensation of employees, received 5.3 % 5.3 % 6.1 % 5.3 % 5.3 % 6.1 %
Wage & salary disbursements 5.5 % 5.5 % 6.4 % 5.5 % 5.5 % 6.4 %
Supplements to wages & salaries 4.3 % 4.3 % 4.8 % 4.3 % 4.3 % 4.8 %
Proprietors' Income -0.8 % -0.8 % 1 % -0.8 % -0.8 % 1 %
Rental Income of Persons 9.3 % 9.3 % 15.6 % 9.3 % 9.3 % 15.6 %
Personal income receipts on assets 4.9 % 4.9 % 3.6 % 4.9 % 4.9 % 3.6 %
Personal interest income 5.5 % 5.5 % 4.4 % 5.5 % 5.5 % 4.4 %
Personal dividend income 4.3 % 4.3 % 2.7 % 4.3 % 4.3 % 2.7 %
Personal current transfer receipts 1.6 % 1.6 % 4 % 1.6 % 1.6 % 4 %
Less: Contributions for social insurance 4.5 % 4.5 % 8 % 4.5 % 4.5 % 8 %
Less: Personal current taxes -1.7 % -1.7 % -31.6 % -1.7 % -1.7 % -31.6 %
Equals: Disposable personal income 5.2 % 5.2 % 12.5 % 5.2 % 5.2 % 12.5 %
             
Addenda:            
Personal consumption expenditures 1.1 % 1.1 % 7.3 % 1.1 % 1.1 % 7.3 %
Goods 1.1 % 1.1 % 7.3 % 1.1 % 1.1 % 7.3 %
 Durable goods 0.9 % 0.9 % 15.8 % 0.9 % 0.9 % 15.8 %
 Nondurable goods 1.2 % 1.2 % 2.6 % 1.2 % 1.2 % 2.6 %
Services 2.2 % 2.2 % 1.1 % 2.2 % 2.2 % 1.1 %
Based on chained (2000) dollar measures            
Real disposable personal income 2.5 % 2.5 % 8 % 2.5 % 2.5 % 8 %





Personal Income & Its Disposition
(Annually, in Billions $)
  2022
2021
2020
2019
2018
2017
Personal income
21,777.2 21,077.2 19,627.6 18,601.4 17,819.2 16,830.9
  Compensation of employees, received
13,564.5 12,580.9 11,572.2 11,420.4 10,928.5 10,407.2
   Wage & salary disbursements
11,189.6 10,327.1 9,444.1 9,297.4 8,888.5 8,453.8
    Private industries
9,575.8 8,791.6 7,949.6 7,845.7 7,485.9 7,108.1
     Goods-producing industries
1,753.2 1,643.4 1,514.0 1,532.8 1,471.6 1,390.3
      Manufacturing
1,037.7 973.0 904.4 908.4 883.2 846.4
     Services-producing industries
7,822.6 7,148.3 6,435.6 6,312.8 6,014.3 5,717.8
      Trade, transportation, & utilities
1,724.3 1,601.2 1,443.2 1,413.7 1,361.0 1,313.5
      Other services-producing industries
6,098.3 5,547.1 4,992.4 4,899.2 4,653.3 4,404.3
    Government
1,613.8 1,535.5 1,494.5 1,451.7 1,402.6 1,345.7
   Supplements to wages & salaries
2,374.9 2,253.7 2,128.0 2,123.0 2,040.0 1,953.4
    Employer contr. for employee pension & insur.
1,612.5 1,526.4 1,464.4 1,473.2 1,417.2 1,348.1
    Employer contr. for govt. social insurance
762.4 727.3 663.7 649.9 622.8 605.3
  Proprietors Income with invent. valu.
1,848.3 1,821.9 1,650.0 1,657.8 1,588.8 1,500.9
   Farm
91.7 97.8 70.2 31.9 27.2 38.9
   Nonfarm
1,756.6 1,724.1 1,579.9 1,626.0 1,561.6 1,462.0
  Rental Inc. with capital consumption adj.
781.9 726.4 711.6 778.2 756.8 730.2
  Personal income receipts on assets
3,343.9 2,941.3 2,912.1 2,992.7 2,930.1 2,631.6
   Personal interest income
1,726.6 1,640.7 1,614.4 1,720.4 1,702.7 1,523.0
   Personal dividend income
1,617.3 1,300.7 1,297.8 1,272.3 1,227.5 1,108.6
  Personal current transfer receipts
3,910.7 4,597.8 4,241.1 3,171.7 2,971.5 2,859.7
   Government social benefits to persons
3,839.6 4,530.9 4,181.3 3,117.1 2,918.3 2,804.0
    Old-age, disability, & health insurance benefits
783.7 746.1 657.3 1,034.7 972.4 926.1
    Government unemployment insurance benefits
321.6 320.2 291.0 26.1 27.1 29.1
    Other
742.9 1,344.6 944.7 1,009.4 960.6 955.2
   Other current transfers, from business
-71.1 -67.0 -59.9 54.6 53.2 55.7
  Contributions for govt. social insurance
-1,672.1 -1,591.1 -1,459.5 -1,419.5 -1,356.5 -1,298.6
Personal current taxes
3,196.6 2,582.6 2,195.6 -2,181.5 -2,077.6 -2,034.6
Disposable personal income
-18,580.6 -18,494.5 -17,432.0 16,419.9 15,741.5 14,796.3
Personal outlays
17,922.5 16,226.3 14,544.5 -15,121.1 -14,531.1 -13,809.5
  Personal consumption expenditures
5,941.3 5,481.4 4,653.8 14,561.2 13,998.7 13,321.4
    Goods
5,941.3 5,481.4 4,653.8 4,505.3 4,364.8 4,156.1
     Durable goods
2,185.5 2,026.2 1,616.4 1,526.6 1,475.6 1,406.5
     Nondurable goods
3,755.9 3,455.2 3,037.4 2,978.6 2,889.2 2,749.6
    Services
11,415.8 10,260.1 9,393.7 10,055.9 9,633.9 9,165.3
  Personal interest payments
341.6 266.5 285.4 360.0 336.7 293.9
  Personal current transfer payments
223.7 218.3 211.5 199.8 195.8 194.2
    To government
115.7 116.4 114.6 108.8 106.9 107.3
    To the rest of the world
108.0 101.9 96.9 91.0 88.9 86.9
Personal saving
0.7 2.3 2.9 1,298.8 1,210.4 986.8
Personal saving as a percentage of disposable personal income %   3.50 % 12.30 % 16.60 % 7.90 % 7.70 % 6.70 %
Disposable personal income:  
Total, billions of chained ($) dollars Y 2000   15,126.3 16,007.5 15,672.8 14,071.2 13,729.6 13,171.4
Per capita:  
Current dollars ($)   55,698 55,671 52,800 49,980 48,075 45,390
Chained ($) dollars Y 2000   45,343 48,185 47,471 45,580 44,455 42,791
Population (midperiod, millions)   333.60 332.21 330.15 328.53 327.44 325.98





Annual Growth in Personal Income & Its Disposition
(year on year, in %)
2022
rest.
2021
rest.
2020
rest.
2019
rest.
2018
rest.
2017
rest.
Personal income 2.3 % 7.4 % 6.5 % 4.4 % 5.6 % 4.4 %
Compensation of employees, received 8.2 % 8.7 % 1.1 % 4.5 % 5 % 4.5 %
Wage & salary disbursements 8.7 % 9.3 % 1.3 % 4.6 % 5 % 4.6 %
Supplements to wages & salaries 5.6 % 5.9 % 0.2 % 4.1 % 4.6 % 4.1 %
Proprietors' Income 5.4 % 10.4 % 3.2 % 4.3 % 4.6 % 5.8 %
Rental Income of Persons 8 % 2.2 % 2.8 % 2.8 % 5.3 % 5.1 %
Personal income receipts on assets 4.4 % 1 % -1.9 % 2.1 % 9.3 % 4.6 %
Personal interest income 4.1 % 1.6 % -2.3 % 1 % 9.7 % 5.7 %
Personal dividend income 4.8 % 0.2 % -1.4 % 3.7 % 8.6 % 3.1 %
Personal current transfer receipts -15.3 % 8.4 % 35.1 % 6.7 % 4.3 % 2.9 %
Less: Contributions for social insurance 8.5 % 9 % 2.7 % 4.6 % 4.4 % 4.7 %
Less: Personal current taxes 20.1 % 17.6 % -0.4 % 5 % 1.6 % 4.1 %
Equals: Disposable personal income -0.3 % 6.1 % 7.5 % 4.3 % 6.1 % 4.4 %
             
Addenda:            
Personal consumption expenditures 8.1 % 17.8 % 3.9 % 4 % 5.2 % 4.3 %
Goods 8.1 % 17.8 % 3.9 % 3.2 % 4.8 % 4 %
 Durable goods 6.1 % 25.4 % 6.8 % 3.5 % 4.5 % 4.4 %
 Nondurable goods 9.3 % 13.8 % 2.4 % 3.1 % 5 % 3.8 %
Services 0.8 % 3.1 % -0.5 % 4.4 % 5.3 % 4.5 %
Based on chained (2000) dollar measures            
Real disposable personal income 9.1 % 12.1 % -2.6 % 2.9 % 4 % 2.6 %

Source: Department of Commerce, Bea.gov




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