Home > News Release: Personal Income and Outlays, November 2010
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, THURSDAY, DECEMBER 23, 2010
BEA 10-63


James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov
Michael Armah: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Personal Income and Outlays, November 2010
Personal income increased $42.3 billion, or 0.3 percent, and disposable personal income (DPI)
increased $37.8 billion, or 0.3 percent, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $43.3 billion, or 0.4 percent.  In October,
personal income increased $49.5 billion, or 0.4 percent, DPI increased $39.3 billion, or 0.3 percent,
and PCE increased $68.9 billion, or 0.7 percent, based on revised estimates.

Real disposable income increased 0.2 percent in November, the same increase as in October.  Real
PCE increased 0.3 percent in November, compared with an increase of 0.5 percent in October.

                                        2010
                                        July            Aug.            Sept.           Oct.            Nov.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.1             0.5             0.0             0.4             0.3
Disposable personal income:
 Current dollars                        0.0             0.4            -0.1             0.3             0.3
 Chained (2005) dollars                -0.2             0.3            -0.2             0.2             0.2
Personal consumption expenditures:
 Current dollars                        0.3             0.5             0.3             0.7             0.4
 Chained (2005) dollars                 0.1             0.3             0.2             0.5             0.3

                                Wages and salaries

Private wage and salary disbursements increased $6.6 billion in November, compared with an increase
of $31.2 billion in October.  Goods-producing industries' payrolls decreased $3.0 billion, in contrast
to an increase of $3.8 billion; manufacturing payrolls decreased $1.9 billion, in contrast to an
increase of $2.6 billion.  Services-producing industries' payrolls increased $9.6 billion, compared
with an increase of $27.4 billion.  Government wage and salary disbursements increased $0.8 billion,
compared with an increase of $3.2 billion.

                                Other personal income

Supplements to wages and salaries increased $2.7 billion in November, compared with an increase of $5.0 billion in October.

Proprietors' income increased $7.2 billion in November, compared with an increase of $8.2 billion in October.
Farm proprietors' income increased $4.0 billion, compared with an increase of $4.1 billion.
Nonfarm proprietors' income increased $3.1 billion, compared with an increase of $4.2 billion.

Rental income of persons increased $2.1 billion in November, compared with an increase of $2.0 billion in October.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $16.8 billion,
compared with an increase of $6.5 billion.  Personal current transfer receipts increased $6.9 billion, in contrast
to a decrease of $1.9 billion.

Contributions for government social insurance -- a subtraction in calculating personal income --  increased $0.7 billion
in November, compared with an increase of $4.6 billion in October.

                                Personal current taxes and disposable personal income

Personal current taxes increased $4.5 billion in November, compared with an increase of $10.3 billion in
October.  Disposable personal income (DPI) -- personal income less personal current taxes -- increased
$37.8 billion, or 0.3 percent, in November, compared with an increase of $39.3 billion, or 0.3 percent in October.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$45.9 billion in November, compared with an increase of $71.3 billion in October.  PCE increased
$43.3 billion, compared with an increase of $68.9 billion.

Personal saving -- DPI less personal outlays -- was $614.8 billion in November, compared with $622.8 billion
in October. Personal saving as a percentage of disposable personal income was 5.3 percent in November,
compared with 5.4 percent in October.  For a comparison of personal saving in BEA’s national income
and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data
on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.2 percent in November, the same increase as in October.

Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in November, compared with an increase
of 0.5 percent in October.  Purchases of durable goods increased 0.2 percent, compared with an increase of 3.7 percent.
Purchases of motor vehicles and parts turned down in November, after accounting for most of the increase in
October.  Purchases of nondurable goods increased 0.5 percent in November, compared with an increase of
0.3 percent in October. Purchases of services increased 0.3 percent, compared with an increase of 0.1 percent.

PCE price index -- The price index for PCE increased 0.1 percent in November, compared with an increase
of 0.2 percent in October.  The PCE price index, excluding food and energy, increased 0.1 percent, compared
with an increase of less than 0.1 percent.

                                Revisions

Estimates have been revised for July through October.  Changes in personal income, current-dollar and
chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for September and
October -- revised and as published in last month's release -- are shown below.

                                                                Change from preceding month
                                        September                                 October
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                        -2.8       -4.5      0.0        0.0       57.6       49.5      0.5        0.4
Disposable personal income:
 Current dollars                        -8.6      -10.4     -0.1       -0.1       48.3       39.3      0.4        0.3
 Chained (2005) dollars                -17.7      -15.8     -0.2       -0.2       26.5       18.1      0.3        0.2
Personal consumption expenditures:
 Current dollars                        26.9       30.4      0.3        0.3       44.0       68.9      0.4        0.7
 Chained (2005) dollars                 15.1       21.5      0.2        0.2       24.2       46.2      0.3        0.5

BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases
are available without charge on BEA’s Web site at www.bea.gov.  By visiting the site, you can also subscribe to receive
free e-mail summaries of BEA releases and announcements.

                                        *          *          *

Next release – January 31, 2011, at 8:30 A.M. EST for Personal Income and Outlays for December.


                                Release dates in 2011

December 2010....January 31              April 2011...May 27           August 2011......September 30
January 2011.....February 28             May 2011.....June 27          September 2011...October 28
February 2011....March 28                June 2011....August 2         October 2011.....November 23
March 2011.......April 29                July 2011....August 29        November 2011....December 23
________________________
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 (2005) dollars.


This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm.

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