Personal Income and Outlays, August 2015

Historical release narrative reproduced from the official public-domain U.S. Bureau of Economic Analysis source. Statistical tables, charts, standard technical appendices and administrative material are omitted; formatting is adapted for reading. Figures retain the release's original vintage and may have been revised. Consult the linked source for the complete release and current data.

Personal income increased $52.5 billion, or 0.3 percent, and disposable personal income (DPI) increased $47.1 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $54.9 billion, or 0.4 percent. In July, personal income increased $69.6 billion, or 0.5 percent, DPI increased $63.9 billion, or 0.5 percent, and PCE increased $45.7 billion, or 0.4 percent, based on revised estimates.

Real DPI increased 0.3 percent in August, compared with an increase of 0.4 percent in July. Real PCE increased 0.4 percent, compared with an increase of 0.3 percent.

Compensation

Wages and salaries increased $35.6 billion in August, compared with an increase of $43.8 billion in July. Private wages and salaries increased $31.5 billion, compared with an increase of $40.0 billion. Government wages and salaries increased $4.1 billion, compared with an increase of $3.8 billion.

Supplements to wages and salaries increased $6.4 billion in August, compared with an increase of $6.7 billion in July.

Other personal income

Proprietors' income decreased $1.6 billion in August, in contrast to an increase of $10.9 billion in July. Farm proprietors' income was unchanged in August and in July. Nonfarm proprietors' income decreased $1.6 billion in August, in contrast to an increase of $10.9 billion in July.

Rental income of persons increased $3.2 billion in August, compared with an increase of $2.3 billion in July. Personal income receipts on assets (personal interest income plus personal dividend income) increased $5.2 billion, compared with an increase of $0.8 billion. Personal current transfer receipts increased $8.3 billion, compared with an increase of $10.5 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $4.5 billion in August, compared with an increase of $5.3 billion in July.

Personal current taxes and disposable personal income

Personal current taxes increased $5.4 billion in August, compared with an increase of $5.7 billion in July. Disposable personal income (DPI) -- personal income less personal current taxes -- increased $47.1 billion, or 0.4 percent, compared with an increase of $63.9 billion, or 0.5 percent.

Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $55.2 billion in August, compared with an increase of $46.0 billion in July. PCE increased $54.9 billion, compared with an increase of $45.7 billion.

Personal saving -- DPI less personal outlays -- was $615.6 billion in August, compared with $623.6 billion in July. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.6 percent, compared with 4.7 percent. For a comparison of personal saving in BEA's national income and product accounts with personal saving in the Federal Reserve Board's financial accounts of the United States and data on changes in net worth, go to www.bea.gov/national/nipaweb/nipa-frb.asp.

Real DPI, real PCE, and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in August, compared with an increase of 0.4 percent in July.

Real PCE -- PCE adjusted to remove price changes -- increased 0.4 percent in August, compared with an increase of 0.3 percent in July. Purchases of durable goods increased 1.2 percent, compared with an increase of 1.3 percent. Purchases of motor vehicles and parts accounted for about half of the increase in August and in July. Purchases of nondurable goods increased 0.6 percent in August, compared with an increase of 0.4 percent in July. Purchases of services increased 0.3 percent, compared with an increase of 0.1 percent.

The price index for PCE increased less than 0.1 percent in August, compared with an increase of 0.1 percent in July. The PCE price index, excluding food and energy, increased 0.1 percent in August, the same increase as in July.

The August price index for PCE increased 0.3 percent from August a year ago. The August PCE price index, excluding food and energy, increased 1.3 percent from August a year ago.

Revisions

Estimates have been revised for April through July. Changes in personal income, in current-dollar and chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for June and July -- revised and as published in last month's release -- are shown below.