Posted on 10/31/2003 6:25:58 AM PST by Starwind
U.S. Sept personal income rose 0.3 pct Friday October 31, 8:30 am ET
WASHINGTON, Oct 31 (Reuters) - U.S. Commerce Department personal income and spending estimates, in seasonally adjusted annual rates. Percent Changes, current dollars . Sep Aug Jul Jun Personal Income 0.3 0.3 0.3 0.4 Wages/Salaries 0.1 0.2 unch 0.4 Disposable Income -1.0 1.0 1.6 0.4 Personal Consumption -0.3 1.1 1.0 0.7 Durables -5.1 3.8 3.5 0.9 Nondurables 0.3 1.4 1.0 1.0 Services 0.4 0.3 0.4 0.5 Saving Rate, pct 2.9 3.5 3.6 3.0 Percent Changes, chained '96 dollars . Sep Aug Jul Jun Personal Consumption -0.6 0.8 0.8 0.5 Durables -4.6 4.0 3.8 1.2 Nondurables -0.4 0.8 0.8 0.7 Services 0.2 0.1 0.1 0.2 Disposable Income -1.2 0.7 1.4 0.2 Percent Changes, chained '96 dollars . Sep Aug Jul Jun PCE Price Index 0.2 0.3 0.2 0.2 Core PCE Price Index 0.1 0.1 0.2 0.2 Current Dollars, in billions . Sep Aug Jul Jun Personal Income 9,275 9,248 9,219 9,193 Wages/Salaries 5,116 5,110 5,097 5,096 Disposable Income 8,236 8,318 8,239 8,107 Personal Income by sector, current dollars, in billions . Sep Aug Jul Jun Manufacturing 748 746 746 749 Service Industries 1,977 1,973 1,968 1,961 Government 890 891 890 895 Proprietors' Income 839 833 829 815 Farm 22 21 19 15 Nonfarm 817 812 810 800 Personal Consumption 7,776 7,803 7,720 7,646 Durables 926 976 939 908 Nondurables 2,280 2,274 2,243 2,220 Services 4,570 4,553 4,538 4,519 Chained '96 dollars, in billions . Sep Aug Jul Jun Personal Consumption 6,833 6,874 6,820 6,768 Durables 1,106 1,160 1,115 1,074 Nondurables 2,024 2,032 2,016 2,000 Services 3,754 3,748 3,743 3,738 Disposable Income 7,237 7,328 7,278 7,176 FORECASTS: Reuters survey of Wall Street economists forecast: U.S. Sept personal income +0.2 pct U.S. Sept personal spending -0.1 pct
The rest of us will enjoy it!
Percent Changes, current dollars . Sep Aug Jul Jun Personal Income 0.3 0.3 0.3 0.4 Disposable Income -1.0 1.0 1.6 0.4 Personal Consumption -0.3 1.1 1.0 0.7 Durables -5.1 3.8 3.5 0.9
The decrease in September disposable personal income (DPI) -- personal income less personal tax and nontax payments -- reflected a winding down of advance refund checks sent to taxpayers as part of the Jobs and Growth Tax Relief Reconciliation Act of 2003. The impact of the tax law changes is discussed more fully below.
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Real DPI and real PCE
Real DPI -- DPI adjusted to remove price changes -- decreased 1.2 percent in September, in contrast to an increase of 0.7 percent in August. Real PCE -- PCE adjusted to remove price changes -- decreased 0.6 percent in September, in contrast to an increase of 0.8 percent in August. Purchases of durable goods decreased 4.6 percent, in contrast to an increase of 4.0 percent. Purchases of motor vehicles and parts accounted for most of the decrease in September and most of the increase in August. Purchases of nondurable goods decreased 0.4 percent in September, in contrast to an increase of 0.8 percent in August. Purchases of services increased 0.2 percent, compared with an increase of 0.1 percent.
Looks like we'll need another tax cut pretty quick.
Yep, they're warming up the helicopters over at the air base now.
Richard W.
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