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Topic: Personal consumption deflator

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	Global Insight // Same-Day Analysis
		The personal consumption deflator, both top-level and core, moved up by 2.0% (unchanged from the preliminary estimate, and down from 2.4% in the fourth quarter of 2005).
		This deflator was revised down from 3.3% to 3.1%, primarily due to a downward revision to estimates of gains in house prices, as well as downward adjustments to measures of state- and local-employee health-insurance costs.
		The core deflator for personal consumption advanced at a rate of 2.0% in the first quarter (unchanged from the preliminary report), down from 2.4% in the fourth quarter of 2005.
	www.globalinsight.com /SDA/SDADetail6256.htm (618 words)

	STATS Indiana - Data Definitions (Site not responding. Last check: 2007-10-20)
		Personal income is measured as the sum of wage and salary disbursements, other labor income, proprietors' income, rental income of persons, personal dividend income, personal interest income, and transfer payments, less personal contributions for social insurance.
		By definition, personal income is a measure of income where received, and the state and local area estimates of total personal income reflect the residence of the recipient.
		Persons located abroad and foreign citizens employed by international organizations and by foreign embassies and consulates in the U.S. are not counted as residents of any county, and their income is excluded from personal income.
	www.stats.indiana.edu /web/definitions/data_definitions.htm (3481 words)

	Personal Income News Release (Site not responding. Last check: 2007-10-20)
		8,687.7 8,725.9 8,804.2 8,808.5 8,859.7 8,929.2 8,986.3 8,988.4 Personal consumption expenditures........
		8,049.3 8,531.9 8,209.4 8,351.6 8,448.7 8,588.1 8,739.3 8,865.8 Personal consumption expenditures........
		58.5 38.2 78.3 4.3 51.2 69.5 57.1 2.1 Personal consumption expenditures........
	www.bea.doc.gov /bea/newsrel/pinewsrelease.htm (4169 words)

	Inflation
		Inflation can be contrasted with "reflation," which is either a rise of prices from a deflated state, or alternately a reduction in the rate of deflation, that is, the general level of prices are falling at a decreasing rate.
		GDP deflator which is based on calculations of the gross domestic product : it is based on the ratio of the total amount of money spent on GDP (nominal GDP) to the inflation-corrected measure of GDP (constant-price or "real" GDP).
		Deflators are also calculated for components of GDP such as personal consumption expenditure.
	www.brainyencyclopedia.com /encyclopedia/i/in/inflation_1.html (3059 words)

	GDP deflator - Wikipedia, the free encyclopedia
		In economics, the GDP deflator (implicit price deflator for GDP) is a price index measuring changes in prices of all new, domestically produced, final goods and services in an economy.
		The GDP deflator is not based on a fixed market basket of goods and services.
		The GDP and GDP deflator are calculated by the Bureau of Economic Analysis (BEA).
	en.wikipedia.org /wiki/GDP_deflator (251 words)

	Econoday Report: Personal Income and Outlays 31, 2006
		Personal consumption is up 5.9 percent year-on-year, compared to 6.3 percent the prior month.
		The core deflator slowed and this is a key focus for the Fed. However, all of the fundamentals that could play a key role in how strong the core PCE deflator is down the road strengthened.
		Personal income rose 0.6 percent in June following a 0.4 percent increase in May. The latest increase was led by the wages and salaries component which rebounded 0.6 percent following no change in May. However, July's employment gains were soft and are likely to lead to a more moderate increase for personal income in July.
	www.nasdaq.com /econoday/reports/US/EN/New_York/personal_income_and_outlays/year/2006/yearly/08/index.html (688 words)

	Econoday Report: Personal Income and Outlays 1, 2006
		Personal income advanced 0.6 percent in June, following a 0.4 percent increase in May. The June boost was above the consensus expectation of a 0.4 percent rise.
		Personal consumption for June rose 0.4 percent, following a 0.6 percent jump in May. The consensus had expected a 0.4 percent rise in personal consumption for June.
		Personal consumption continued recent strong gains with a 0.4 percent rise in June, following a 0.6 percent jump in May. Spending in June was fairly even across major categories.
	www.nasdaq.com /econoday/reports/US/EN/New_York/personal_income_and_outlays/year/2006/yearly/07/index.html (608 words)

	Personal consumption expenditures price index - Wikipedia, the free encyclopedia
		The other components are government consumption expenditures, gross private domestic investment, and net exports of goods and services, the GDP can be found in the BEA 's national income and product accounts.
		Current personal consumption is measured in today's prices and then compared to current personal consumption at prices from a base year.
		In its " Monetary Policy Report to the Congress " (" Humphrey-Hawkins Report ") from February 17, 2000 the FOMC said it was changing its primary measure of inflation from the consumer price index to the "chain-type price index for personal consumption expenditures" ( [1]).
	en.wikipedia.org /wiki/Personal_consumption_expenditures_price_index (300 words)

	RE-START ECONOMIC GROWTH IN RUSSIA (Site not responding. Last check: 2007-10-20)
		Personal consumption expenditures led accounting for 64.3% of the total rise in final spending, followed by exports (63.8%), leaving investment (19.2%) and government purchases (5.7%) far behind.
		It is essentially a household consumption growth scenario were the accent is on the consumer and his revival from the trough of the 1998 crisis.
		While real consumption would still grow twice as fast as initially expected (by 6 instead of 3%) the rise in real investment (by 5.9%) would be more than enough to compensate for losses in consumption growth and result in modest real growth in GDP (by 0.2%) and industrial production (by 0.4%).
	www.ecaar-russia.org /fast2a.htm (15232 words)

	Detailed Report
		Personal income is the dollar value of income received from all sources by individuals.
		Personal income rose 0.5 percent in March after rising a revised 0.5 percent in February.
		While the overall level of personal savings may be misleading given the way these figures are calculated, there is no question that personal savings have decreased dramatically in the past few years.
	www.econoday.com /clients/statetrust/publish/2001/April/30/pio.html (381 words)

	Briefing.com: The Big Picture (Site not responding. Last check: 2007-10-20)
		The August personal income and consumption data this morning was quickly ignored by the markets, as it usually is. That should not have been the case.
		Personal consumption expenditures for August were unchanged, a bit lower than the expected 0.1% gain.
		Core CPI and the consumption deflator were both trending near 0.3% per month for a short period.
	www.briefingprofessional.net /GeneralContent/Silver/Active/ArticlePopup/ArticlePopup.aspx?ArticleId=NS20040930101535TheBigPicture (850 words)

	[No title] (Site not responding. Last check: 2007-10-20)
		Personal transfer payments to the rest of the world (net)..........
		Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) [Quarters seasonally adjusted at annual rates] -------------------------------------------------------------------------------------------------------------------- 1998 1999 2000 2001 I 98 II 98 III 98 IV 98 I 99 II 99 -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Billions of chained (1996) dollars -------------------------------------------------------------------------------- Personal consumption expenditures...
		Table 12.-Revisions to Personal Income and Its Disposition --------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ------------------------ ------------------------ Revisions as Revised Revisions to percent of estimates previously previously published published ------------------------ ------------------------ ------------------------ 1999 2000 2001 1999 2000 2001 1999 2000 2001 --------------------------------------------------------------------------------------------------------------------------------- Personal income........................
	www.bea.doc.gov /bea/dn/PIO2002.txt (2525 words)

	TheStreet.com: Meet the Fed's Elusive New Inflation Target
		The FOMC forecasts that the PCE deflator will rise 2% from the fourth quarter of 1999 to the fourth quarter of 2000, the same amount it rose from the fourth quarter of 1998 to the fourth quarter of 1999.
		The PCE deflator is better than the CPI, the Fed says, mainly because it better accounts for the fact that, as prices of goods and services change, people's spending habits change.
		The text of the release calculated the year-on-year change in the PCE deflator for the quarter.
	www.thestreet.com /markets/marketfeatures/889679.html (890 words)

	Inflation (Site not responding. Last check: 2007-10-20)
		Personal consumption expenditures price deflator ("PCE deflator") (or the "implicit price deflator for personal consumption expenditures", IPD for PCE).
		One of the most widespread theories of inflation is also the most straightforward: inflation is an increase in the supply or velocity of money at a rate greater than the expansion in the size of the economy.
		This is practically measured by comparing the GDP deflator to the rate of increase of the money supply, and setting the interest rate through the central bank to maintain a constant quantity of money.
	www.mywiseowl.com /index.php?title=Inflation&action=creativecommons (4342 words)

	EH.Net Encyclopedia: Credit in the Colonial American Economy
		This time could otherwise be used for consumption, production, leisure, or any number of other activities.
		More than this, accounts receivable averaged one-eighth of personal wealth throughout most of the colonial period, and more than one-fifth at the end (Main, 36).
		The new person did not pose a greater default risk in the creditor's opinion, otherwise (we would suspect) they refused the exchange.
	www.eh.net /encyclopedia/?article=flynn.colonialcredit (4707 words)

	Encyclopedia: Measures of national income (Site not responding. Last check: 2007-10-20)
		The three methods must yield the same results because the total expenditures on goods and services (GNE) must by definition be equal to the value of the goods and services produced (GNP) which must be equal to the total income paid to the factors that produced these goods and services (GNI).
		Personal Disposable Income (PDI) is PI minus personal taxes, plus transfer payments.
		GNP per person is often used as a measure of people's welfare.
	www.nationmaster.com /encyclopedia/Measures-of-national-income (1339 words)

	[No title] (Site not responding. Last check: 2007-10-20)
		Table 8.--Real Personal Consumption Expenditures by Major Type of Product (Years and Quarters) [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 ------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------ Billions of chained (2000) dollars ------------------------------------------------------------------------ Personal consumption expenditures..........
		Addendum: Personal consumption expenditures excluding food and energy...............
		Table 12.--Revisions to Personal Income and Its Disposition ------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ------------------------ ------------------------ Revisions as Revised Revisions to percent of estimates previously previously published published ------------------------ ------------------------ ------------------------ 2001 2002 2003 2001 2002 2003 2001 2002 2003 ------------------------------------------------------------------------------------------------------------------------------------- Personal income............................
	www.bea.doc.gov /bea/dn/2004annual/pio2004.txt (2681 words)

	Pulling Apart: State Income Inequality Trends - Methodology - 12/16/97
		The GDP deflator for personal consumption expenditures is constructed using the price of goods actually purchased each year.
		The GDP deflator for personal consumption expenditures, therefore, does not have substitution bias.
		The conclusions of the analysis presented here would not change if the CPI were used to deflate incomes rather than the GDP deflator for personal consumption expenditures.
	www.cbpp.org /pa-meth.htm (1039 words)

	Federal Reserve Bank of Minneapolis-The Region - Gary H. Stern Column - Should We Accept the Conventional Wisdom About ... (Site not responding. Last check: 2007-10-20)
		Historical experiences with deflation accompanied by a decline in economic activity, however, are not the only ones we have had with deflation.
		The last quarter of the 19th century was a period of modest deflation accompanied by, on average, appreciable economic growth and rising per capita incomes.
		And that means that unanticipated deflation should not have as large an adverse consequence for employment as it might have formerly.
	minneapolisfed.org /pubs/region/03-09/top9.cfm (2869 words)

	August 16 2001
		The markets have caught the Brazilian vice, when that country was experiencing hyper-inflation, and as a consequence, local markets developed four to five different consumer price indexes, all of which could be used in indexation contracts.
		The Fed’s preferred index is the personal consumption expenditures index, which is predicted to reach 2.25 percent this year.
		Personal consumption expenditures were up 2.1 percent, while investment expenditures fell 8.9 percent.
	www.stratinfo.com /Archives/august_16_2001.htm (797 words)

	National Australia Bank - US Interest Rates set to rise - 27 March 2002 (Site not responding. Last check: 2007-10-20)
		Using the Fed's preferred measure of inflation (the personal consumption deflator) - which shows significantly lower inflation than the CPI - real rates are still positive but also very low at around 1%.
		If we add personal consumption inflation of 1½% to that, it suggests that the neutral level of nominal interest rates should be 4% at present.
		Producer price inflation is almost non-existent, the core CPI has been dropping to 2½% yoy, the personal consumption deflator has fallen sharply to only 0.6% yoy and both export and import prices are injecting deflation into the economy.
	www.national.com.au /Business_Solutions/0,,14744,00.html (2409 words)

	Forex - US dollar firmer in Sydney morning, support on HIA repatriation flows - Forbes.com (Site not responding. Last check: 2007-10-20)
		Personal consumption was revised to 4.1 pct from 4.2 pct, business fixed investment down to 8.5 pct from 8.8 pct and residential spending revised to 7.3 pct from 8.4 pct.
		Dealers said the core personal consumption deflator was also revised upward for the September quarter, increased to 1.4 pct annually from the earlier estimate of 1.2 pct but down from the June quarter outcome of 1.7 pct.
		Personal spending in the US for November is expected to rise to 0.4 pct from a rise of 0.2 pct in October, but the market consensus for personal income data is a slight easing to 0.3 pct from 0.4 pct in the previous month.
	www.forbes.com /markets/feeds/afx/2005/12/21/afx2409038.html (1026 words)

	AEI - Short Publications
		The inflation forecast (based on something called the chain-weighted personal consumption deflator) was cut from a 1.5-1.75 percent range to a 1.25-1.5 percent range, thus suggesting that disinflation is continuing and moving dangerously close to zero.
		Avoiding inflation or deflation is supposed to be the primary target of monetary policy, yet the Fed chairman argues that no additional stimulus--monetary or fiscal--is needed.
		Personal tax reductions contributed about $250 billion to the growth of disposable personal income between the fourth quarter 2001 and the fourth quarter 2002.
	www.aei.org /publications/pubID.16029/pub_detail.asp (2376 words)

	Dismally, as it relates to the economy.: Personal Income Archives (Site not responding. Last check: 2007-10-20)
		Regardless, real personal consumption is based on two things: Personal income and the deflator (very complex mathematical formula that only the government's top scientists understand).
		If both real personal income and average hourly earnings are showing strong signs of improvement in their rate of growth, then you can bet consumption will follow suit.
		The growth rate in consumption is declining as the money that is being spent is being focused in other areas.
	www.dismally.com /personal_income (5258 words)

	Articles - Inflation (Site not responding. Last check: 2007-10-20)
		Because each measure is based on both other measures, and a model that brings them together, economists often dispute whether there is "bias" either in measurement or in the model of inflation.
		Efforts to attain complete price stability can also lead to deflation (steadily falling prices), which can be very destructive, encouraging bankruptcy and recession (or even depression).
		The simplest means of implementing this monetary demand model is the rule of setting the discount rate at 7.5 + GDP deflator - unemployment rate.
	oldion.com /articles/Inflation (4173 words)

	Inflation biography .ms (Site not responding. Last check: 2007-10-20)
		Personal consumption expenditures price deflator ("PCE deflator ") (or the "implicit price deflator for personal consumption expenditures ", IPD for PCE).
		In its semi-annually "Monetary Policy Report to the Congress " ("Humphrey-Hawkins Report ") from February 17, 2000 the FOMC said it was changing its primary measure of inflation from the CPI to the "chain-type price index for personal consumption expenditures " ( [1]).
		And what is primarily looked at is the less volatile "core" PCE deflator which can be found here: [2].
	inflation.biography.ms (4317 words)

	Ameriprise Financial — Weekly Markets Commentary
		Personal consumption rose at a 3.1 percent pace, a testimony to the resiliency of the consumer sector, and business investment rose at a healthy 8.6 percent rate.
		The personal consumption deflator rose at a 2.5 percent pace, down from 4 percent in the second quarter, and fell to 2.9 percent for the trailing 12 months, down from 3.3 percent last quarter.
		On Monday, September reports on personal income and spending are expected to show increases in line with last month, while the PCE deflator is expected to show some slight moderation.
	www.ameriprise.com /amp/individual/insights-resources/insights-article-55.asp (910 words)

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