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


Personal income increased $47.4 billion, or 0.4 percent, and disposable personal income (DPI) increased $40.6 billion, or 0.4 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $30.1 billion, or 0.3 percent. In August, personal income increased $52.8 billion, or 0.4 percent, DPI increased $48.6 billion, or 0.5 percent, and PCE increased $51.4 billion, or 0.5 percent, based on revised estimates.

Wages and salaries

Private wage and salary disbursements increased $33.4 billion in September, compared with an increase of $17.0 billion in August. Goods-producing industries'' payrolls increased $2.0 billion, compared with an increase of $2.1 billion; manufacturing payrolls increased $0.3 billion, compared with an increase of $1.0 billion. Services-producing industries'' payrolls increased $31.5 billion, compared with an increase of $14.9 billion. Government wage and salary disbursements increased $4.5 billion, compared with an increase of $5.8 billion.

Other personal income

Supplements to wages and salaries increased $5.8 billion in September, compared with an increase of $4.8 billion in August. Proprietors'' income decreased $7.1 billion in September, compared with a decrease of $0.4 billion in August. Farm proprietors'' income increased $2.5 billion, compared with an increase of $2.3 billion. Nonfarm proprietors'' income decreased $9.6 billion, compared with a decrease of $2.7 billion.

Rental income of persons increased $1.4 billion in September, compared with an increase of $1.0 billion in August. Personal income receipts on assets (personal interest income plus personal dividend income) increased $13.6 billion, compared with an increase of $13.8 billion. Personal current transfer receipts increased $0.7 billion in September, compared with an increase of $13.2 billion in August.Contributions for government social insurance -- a subtraction in calculating personal income - increased $4.9 billion in September, compared with an increase of $2.4 billion in August.

Personal current taxes and disposable personal income

Personal current taxes increased $6.8 billion in September, compared with an increase of $4.2 billion in August. Disposable personal income (DPI) -- personal income less personal current taxes - increased $40.6 billion, or 0.4 percent, in September, compared with an increase of $48.6 billion, or 0.5 percent, in August.

Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments increased $33.0 billion in September, compared with an increase of $54.3 billion in August. PCE increased $30.1 billion, compared with an increase of $51.4 billion.

Personal saving -- DPI less personal outlays -- was $89.7 billion in September, compared with $82.1 billion in August. Personal saving as a percentage of disposable personal income was 0.9 percent in September, compared with 0.8 percent in August. 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 -- increased 0.2 percent in September, compared with an increase of 0.5 percent in August.

Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in September, compared with an increase of 0.6 percent in August. Purchases of durable goods increased 0.4 percent, compared with an increase of 2.9 percent. Purchases of nondurable goods increased 0.3 percent, in contrast to a decrease of 0.1 percent. Purchases of services decreased 0.1 percent, in contrast to an increase of 0.5 percent.

PCE price index -- The PCE price index increased 0.2 percent in September, in contrast to a decrease of less than 0.1 percent in August. The PCE price index, excluding food and energy, increased 0.2 percent, compared with an increase of 0.1 percent in August.


Available at:

http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm