Personal income increased .6 billion (0.5 percent) in May according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased.6 billion (0.5 percent) and personal consumption expenditures (PCE) increased .7 billion (0.4 percent). Real DPI increased 0.3 percent in May, and real PCE increased 0.2 percent. The PCE price indexincreased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent. 2019 Jan. Feb. Mar. Apr. May Percent change from preceding month Personal income: Current dollars -0.1 0.2 0.1 0.5 0.5 Disposable personal income: Current dollars -0.2 0.1 0.0 0.5 0.5 Chained (2012) dollars -0.2 0.1 -0.2
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Personal income increased $88.6 billion (0.5 percent) in May according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased$72.6 billion (0.5 percent) and personal consumption expenditures (PCE) increased $59.7 billion (0.4 percent).
Real DPI increased 0.3 percent in May, and real PCE increased 0.2 percent. The PCE price indexincreased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
|Percent change from preceding month|
|Disposable personal income:|
|Chained (2012) dollars||-0.2||0.1||-0.2||0.1||0.3|
|Personal consumption expenditures (PCE):|
|Chained (2012) dollars||0.4||-0.3||0.8||0.2||0.2|
|PCE, excluding food and energy||0.1||0.0||0.1||0.2||0.2|
|Price indexes:||Percent change from month one year ago|
|PCE, excluding food and energy||1.8||1.7||1.5||1.6||1.6|
The increase in personal income in May primarily reflected increases in personal interest income, wages and salaries, and government social benefits to persons (table 3).
The $32.9 billion increase in real PCE in May reflected an increase of $18.5 billion in spending for goods and a $15.8 billion increase in spending for services (table 7). Within goods, new motor vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for food services and accommodations. Detailed information on monthly real PCE spending can be found in Table 2.3.6U.
Personal outlays increased$62.1 billion in May (table 3). Personal saving was$985.4 billion in May and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.1 percent (table 1).
Updates to Personal Income and Outlays
Estimates have been updated for January through April. The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE -- revised and previously published in last month's release -- are shown below.
|Change from preceding month|
|(Billions of dollars)||(Percent)||(Billions of dollars)||(Percent)|
|Disposable personal income:|
|Chained (2012) dollars||-21.9||-27.0||-0.2||-0.2||17.9||21.1||0.1||0.1|
|Personal consumption expenditures:|
|Chained (2012) dollars||117.8||107.5||0.9||0.8||-3.7||31.4||0.0||0.2|
Next release: July 30, 2019 at 8:30 A.M. EDT
Personal Income and Outlays: June 2019
Upcoming Annual Update of the National Income and Product Accounts