The personal income & outlays BEA economic report for February 2011 is out. PCE or personal consumption expenditures increased 0.7%. Personal Consumption Expenditures are part of GDP, which had increased 4.0% for Q4. Take away inflation and PCE increased 0.3%. In January real PCE was 0%.
The personal income & outlays BEA economic report for January 2011 is out. PCE or personal consumption expenditures increased 0.2%. Personal Consumption Expenditures are part of GDP, which had increased 4.1% for Q4. Take away inflation and PCE dropped -0.1%.
The personal income & outlays BEA economic report for December 2010 is out. Personal Consumption Expenditures, or PCE, was already reported as part of the Q4 GDP report and had increased 4.4% for the quarter.
The personal income & outlays BEA economic report for November 2010 is out. This is PCE, which is normally the largest component of GDP. From the report, we predict Q4 2010 PCE will be at least 4% in growth.
The BEA released personal income for states. Growth was only 0.7% for Q3 2010. PCE, or personal consumption expenditures had a price index increase of 0.3%. This is a deceleration of growth from Q2, which had an average personal income growth of 1.4%. Below is the BEA map showing which areas had the most gains from last quarter.
The BEA economic report personal income & outlays was released last Wednesday, but since PCE greatly affects GDP, it's worth reviewing, despite the tardiness of this piece.
Personal income increased 0.5% in October and PCE or personal consumption expenditures increased 0.3%. In September personal income was a big fat 0%. Below is the percent change in personal income and then the raw values.
Personal Income by Cities dropped -1.8%, on average, for 2009. Per capita metropolitan income plunged -2.8% last year. The BEA release tells an even more troubling story. The only income gains where from government payments via unemployment insurance, social security, disability benefits (transfer receipts) and government jobs.
Private wage and salary disbursements decreased $5.2 billion in June, in contrast to an increase of $19.2 billion in May. Goods-producing industries' payrolls decreased $8.9 billion, in contrast to an increase of $10.4 billion; manufacturing payrolls decreased $6.0 billion, in contrast to an increase
of $7.8 billion. Services-producing industries' payrolls increased $3.7 billion, compared with an increase of $8.8 billion. Government wage and salary disbursements decreased $0.6 billion, in contrast to an increase of $7.0 billion. The decline in the number of temporary workers for Census 2010 subtracted $3.4 billion at an annual rate from federal civilian payrolls in June; the hiring of additional temporary workers had added $5.7 billion at an annual rate in May.
Personal Income and Outlays for March 2010 was released today. Once again, Americans' spending is increasing more than their incomes. Even more interesting, the increase in unemployment insurance benefit payouts equaled the increase in wages and salaries from private industries, $11.8 billion, at a seasonally adjusted annual rate. The total government transfer payments was over 66% of the personal income growth for March.
Personal income increased $36.0 billion, or 0.3 percent, and disposable personal income (DPI) increased $32.3 billion, or 0.3 percent. Personal consumption expenditures (PCE) increased $58.6 billion, or 0.6 percent.
Recent comments