The following is the unedited transcript of the news release from the Bureau of Economic Analysis.


Personal income increased $21.2 billion, or 0.2 percent, and disposable personal income (DPI) increased $14.0 billion, or 0.1 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.8 billion, or 0.2 percent. In September, personal income increased $50.4 billion, or 0.4 percent, DPI increased $43.2 billion, or 0.4 percent, and PCE increased $33.0 billion, or 0.3 percent, based on revised estimates.

Wages and salaries

Private wage and salary disbursements increased $1.5 billion in October, compared with an increase of $35.3 billion in September. Goods-producing industries'' payrolls decreased $2.7 billion, in contrast to an increase of $3.0 billion; manufacturing payrolls decreased $1.2 billion, in contrast to an increase of $0.4 billion. Services-producing industries'' payrolls increased $4.2 billion, compared with an increase of $32.3 billion. Government wage and salary disbursements increased $4.0 billion, the same increase as in September.

Other personal income

Supplements to wages and salaries increased $4.6 billion in October, compared with an increase of $5.9 billion in September.

Proprietors'' income decreased $1.7 billion in October, compared with a decrease of $6.9 billion in September. Farm proprietors'' income increased $1.6 billion, compared with an increase of $1.8 billion. Nonfarm proprietors'' income decreased $3.3 billion, compared with a decrease of $8.7 billion.

Rental income of persons increased $1.4 billion in October, compared with an increase of $1.9 billion in September. Personal income receipts on assets (personal interest income plus personal dividend income) increased $7.7 billion, compared with an increase of $14.5 billion. Personal current transfer receipts increased $4.4 billion, compared with an increase of $0.7 billion.

Contributions for government social insurance -- a subtraction in calculating personal income - increased $0.5 billion in October, compared with an increase of $5.1 billion in September.

Personal current taxes and disposable personal income

Personal current taxes increased $7.3 billion in October, compared with an increase of $7.1 billion in September. Disposable personal income (DPI) -- personal income less personal current taxes - increased $14.0 billion, or 0.1 percent, in October, compared with an increase of $43.2 billion, or 0.4 percent, in September.

Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments increased $27.4 billion in October, compared with an increase of $36.0 billion in September. PCE increased $23.8 billion, compared with an increase of $33.0 billion.

Personal saving -- DPI less personal outlays -- was $54.5 billion in October, compared with $67.9 billion in September. Personal saving as a percentage of disposable personal income was 0.5 percent in October, compared with 0.7 percent in September. Saving from current income may be near zero or negative when outlays are financed by borrowing (including borrowing financed through credit cards or home equity loans), by selling investments or other assets, or by using savings from previous periods.

Real DPI and real PCE

Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in October, in contrast to an increase of 0.2 percent in September.

Real PCE -- PCE adjusted to remove price changes -- decreased less than 0.1 percent in October, in contrast to an increase of 0.1 percent in September. Purchases of durable goods decreased 0.6 percent, in contrast to an increase of 0.7 percent. Purchases of motor vehicles and parts accounted for most of the decrease in October and for most of the increase in September. Purchases of nondurable goods decreased 0.1 percent in October, in contrast to an increase of 0.3 percent in September. Purchases of services increased 0.1 percent, in contrast to a decrease of 0.2 percent.

The price index for PCE increased 0.3 percent in October, the same increase as in September. The PCE price index, excluding food and energy, increased 0.2 percent in October, the same increase as in September.