Sunday, May 27, 2012
USA Personal Income and Consumer Spending Both Reach Another All-Time High
Bureau of Economic Analysis: Personal Income and Outlays
USA Personal Income and Outlays The March 2012 Personal Income and Outlays for the USA both reached yet another all-time high. Personal Income has increased 28 of the past 29 months (since October 2009). Personal Outlays have increased 28 of the past 30 months (since September 2009). Though somewhat older data now, this is an encouraging report. These are preliminary amounts, subject to ongoing revisions.
Personal Income and Disposable Personal Income (Seasonally adjusted at annual rates) Personal Income is at another all-time high of $13.33 trillion and Disposable Personal Income is also at another all-time high of $11.85 trillion. Personal Income is all the personal income in the USA: employee compensation, proprietors' income, rentals, interest, dividends, government social benefits, and business benefits. Disposable Personal Income is Personal Income less government social insurance deductions and personal income taxes.
Personal Consumption Expenditures (Seasonally adjusted at annual rates) Personal Consumption Expenditures are at an all-time high of $11.07 trillion. Personal Consumption Expenditures includes all consumer spending divided into three sub-categories: Durable Goods, NonDurable Goods, and Services. Personal Consumption Expenditures is a sub-category of Personal Outlays, which also includes nonmortgage interest expense and personal transfer payments.
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