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Comparison to Japan

Bureau of Economic Analysis

Personal Income and Outlays

Data from the latest news release

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Selected tables from the Personal Income and Outlays News Release dated November 25, 1998.

bulletTable 1 -- Personal Income
bulletTable 2 -- Disposition of Personal Income
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Table 1. -- Personal Income
[Billions of dollars]
--------------------------------------------------------------------------------------------------------------------------
                                                                           Seasonally adjusted at annual rates
                                                               -----------------------------------------------------------

                                           1996      1997      May 98   June 98  July 98r  Aug. 98r  Sep. 98r  Oct. 98p
--------------------------------------------------------------------------------------------------------------------------


Personal income.....................    6,425.2   6,784.0     7,085.9   7,104.4   7,132.2   7,161.8   7,178.5   7,209.8

  Wage and salary disbursements.....    3,631.1   3,889.8     4,124.3   4,131.0   4,153.5   4,183.5   4,192.1   4,214.0
    Private industries..............    2,990.2   3,225.7     3,438.6   3,442.8   3,463.4   3,490.6   3,496.8   3,515.4
      Goods-producing industries....      909.0     975.0     1,025.5   1,021.3   1,020.8   1,030.6   1,031.2   1,034.4
        Manufacturing...............      674.6     719.5       753.2     748.3     743.7     752.4     755.9     755.0
      Distributive industries.......      823.3     879.8       935.6     934.4     941.5     946.3     950.1     952.7
      Service industries............    1,257.9   1,370.8     1,477.5   1,487.1   1,501.0   1,513.8   1,515.5   1,528.4
    Government......................      640.9     664.2       685.7     688.1     690.2     692.9     695.4     698.6


  Other labor income................      387.0     392.9       405.7     406.6     407.5     408.3     409.2     410.1

  Proprietors' income with IVA and
    CCAdj...........................      527.7     551.2       570.2     574.8     576.9     574.5     575.8     580.6
    Farm............................       38.9      35.5        27.7      28.2      26.4      24.7      23.0      23.8
    Nonfarm.........................      488.8     515.8       542.5     546.6     550.5     549.8     552.8     556.9

  Rental income of persons with
    CCAdj...........................      150.2     158.2       160.9     162.6     163.0     163.5     164.3     165.4

  Personal dividend income..........      248.2     260.3       262.1     262.3     262.4     262.8     263.7     264.7

  Personal interest income..........      719.4     747.3       762.8     765.0     766.5     767.5     768.7     770.1

  Transfer payments to persons......    1,068.0   1,110.4     1,145.3   1,148.3   1,150.2   1,151.5   1,155.4   1,157.3
    Old-age, survivors, disability,
      and health insurance benefits.      538.0     565.9       585.1     586.2     588.0     588.5     589.6     590.3
    Government unemployment
      insurance benefits............       21.9      19.9        19.4      19.6      19.5      19.3      19.5      19.6
    Other...........................      508.0     524.6       540.8     542.5     542.7     543.8     546.3     547.4

  Less:  Personal contributions for
    social insurance................      306.3     326.2       345.5     346.2     347.7     349.9     350.7     352.4

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  p  Preliminary.
  r  Revised.
  IVA  Inventory valuation adjustment
  CCAdj  Capital consumption adjustment

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Table 2. -- Disposition of Personal Income
[Billions of dollars]
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                                                                              Seasonally adjusted at annual rates
                                                                    ------------------------------------------------------
                                              1996      1997      May 98   June 98  July 98r  Aug. 98r  Sep. 98r  Oct. 98p
--------------------------------------------------------------------------------------------------------------------------


Personal income.......................     6,425.2   6,784.0     7,085.9   7,104.4   7,132.2   7,161.8   7,178.5   7,209.8

Less:  Personal tax and nontax
   payments...........................       890.5     989.0     1,094.9   1,100.5   1,102.1   1,110.5   1,110.9   1,114.2

Equals:  Disposable personal income...     5,534.7   5,795.1     5,990.9   6,004.0   6,030.2   6,051.3   6,067.6   6,095.6

Less:  Personal outlays...............     5,376.2   5,674.1     5,970.4   6,005.2   6,010.4   6,033.2   6,076.7   6,107.5

  Personal consumption expenditures...     5,215.7   5,493.7     5,782.1   5,815.0   5,818.0   5,839.3   5,881.3   5,910.7
  Interest paid by persons............       143.6     161.5       168.4     170.4     171.9     173.4     175.0     176.4
  Personal transfer payments to the
    rest of the world (net)...........        16.9      18.9        19.9      19.9      20.4      20.4      20.4      20.4

Equals:  Personal saving..............       158.5     121.0        20.5      -1.2      19.8      18.1      -9.1     -11.9

Addenda:

Disposable personal income:

  Chained (1992) dollars 1/...........     5,043.0   5,183.1     5,318.8   5,334.0   5,348.3   5,361.0   5,377.4   5,391.2

  Per capita:
    Current dollars...................      20,840    21,633      22,200    22,231    22,310    22,369    22,410    22,495
    Chained (1992) dollars............      18,989    19,349      19,709    19,751    19,787    19,817    19,861    19,896
  Population (thousands)..............     265,579   267,880     269,862   270,069   270,289   270,522   270,757   270,973

Personal saving as a percentage of
  disposable personal income .........         2.9       2.1         0.3       0.0       0.3       0.3      -0.1      -0.2

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  p  Preliminary.
  r  Revised.
  1/  Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit price
      deflator for personal consumption expenditures.