Definition:
Also known as Personal Income and Outlays. Personal Income represents the income that households receive from all sources, including employment, self-employment, investments, and transfer payments. Personal Outlays are consumer spending which is divided into durable goods, non- durable goods, and services.
Importance:
Income is the major determinant of spending (US consumers spend approximately 95 cents of each new dollar) and consumer spending accounts for two-thirds of the economy. Greater spending spurs corporate profits and benefits the stock market.
Source:
The Bureau of Economic Analysis of the Department of Commerce.
Availability:
First business day of the month at
Frequency:
Monthly.
Revisions:
Data for the prior three months are revised monthly to incorporate more complete information. New seasonal adjustment factors are introduced in June. This revision affects at least five years worth of data. Its significance is moderate.
Raw Data:
http://www.bea.doc.gov/bea/rels.htm
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