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NEWS RELEASE
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, AUGUST 27, 2010

Lisa Mataloni:
(202) 606-5304 (GDP)
Andrew Hodge:
(202) 606-5564 (Profits)
Recorded message: (202) 606-5306

BEA 10-41

GROSS DOMESTIC PRODUCT: SECOND QUARTER 2010 (SECOND ESTIMATE)
CORPORATE PROFITS: SECOND QUARTER 2010 (PRELIMINARY)

Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 1.6 percent in the second quarter of 2010,
(that is, from the first quarter to the second quarter), according to the "second" estimate released by the
Bureau of Economic Analysis. In the first quarter, real GDP increased 3.7 percent.
The GDP estimates released today are based on more complete source data than were available for
the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 2.4
percent (see "Revisions" on page 3).
The increase in real GDP in the second quarter primarily reflected positive contributions from
nonresidential fixed investment, personal consumption expenditures, exports, federal government
spending, private inventory investment, and residential fixed investment. Imports, which are a
subtraction in the calculation of GDP, increased.
The deceleration in real GDP in the second quarter primarily reflected a sharp acceleration in
imports and a sharp deceleration in private inventory investment that were partly offset by an upturn in
residential fixed investment, an acceleration in nonresidential fixed investment, an upturn in state and
local government spending, and an acceleration in federal government spending.

NOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent
changes are calculated from unrounded data and are annualized. “Real” estimates are in chained (2005)
dollars. Price indexes are chain-type measures.
This news release is available on BEA’s Web site along with the Technical Note and Highlights
related to this release.

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-2-

Final sales of computers added 0.03 percentage point to the second-quarter change in real GDP
after adding 0.10 percentage point to the first-quarter change. Motor vehicle output subtracted 0.08
percentage point from the second-quarter change in real GDP after adding 0.74 percentage point to the
first-quarter change.
The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 0.1 percent in the second quarter, the same increase as in the advance estimate; this index
increased 2.1 percent in the first quarter. Excluding food and energy prices, the price index for gross
domestic purchases increased 0.8 percent in the second quarter, compared with an increase of 1.6
percent in the first.
Real personal consumption expenditures increased 2.0 percent in the second quarter, compared
with an increase of 1.9 percent in the first. Real nonresidential fixed investment increased 17.6 percent,
compared with an increase of 7.8 percent. Nonresidential structures increased 0.4 percent, in contrast to
a decrease of 17.8 percent. Equipment and software increased 24.9 percent, compared with an increase
of 20.4 percent. Real residential fixed investment increased 27.2 percent, in contrast to a decrease of
12.3 percent.
Real exports of goods and services increased 9.1 percent in the second quarter, compared with an
increase of 11.4 percent in the first. Real imports of goods and services increased 32.4 percent,
compared with an increase of 11.2 percent.
Real federal government consumption expenditures and gross investment increased 9.1 percent in
the second quarter, compared with an increase of 1.8 percent in the first. National defense increased 7.3
percent, compared with an increase of 0.4 percent. Nondefense increased 12.9 percent, compared with
an increase of 5.0 percent. Real state and local government consumption expenditures and gross
investment increased 1.2 percent, in contrast to a decrease of 3.8 percent.
The change in real private inventories added 0.63 percentage point to the second-quarter change in
real GDP, after adding 2.64 percentage points to the first-quarter change. Private businesses increased
inventories $63.2 billion in the second quarter, following an increase of $44.1 billion in the first quarter
and a decrease of $36.7 billion in the fourth.
Real final sales of domestic product -- GDP less change in private inventories -- increased 1.0
percent in the second quarter, compared with an increase of 1.1 percent in the first.

Gross domestic purchases
Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 4.9 percent in the second quarter, compared with an increase of 3.9 percent in the
first.

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-3-

Gross national product
Real gross national product -- the goods and services produced by the labor and property supplied
by U.S. residents -- increased 1.7 percent in the second quarter, compared with an increase of 4.4
percent in the first. GNP includes, and GDP excludes, net receipts of income from the rest of the world,
which increased $2.1 billion in the second quarter after increasing $22.9 billion in the first; in the second
quarter, receipts increased $13.7 billion, and payments increased $11.6 billion.

Current-dollar GDP
Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
3.6 percent, or $128.6 billion, in the second quarter to a level of $14,575.0 billion. In the first quarter,
current-dollar GDP increased 4.8 percent, or $169.1 billion.

Revisions
The “second” estimate of the second-quarter increase in real GDP is 0.8 percentage point, or $25.0
billion, lower than the advance estimate issued last month, primarily reflecting an upward revision to
imports and downward revisions to private inventory investment and to exports that were partly offset
by an upward revision to personal consumption expenditures.
Advance
Second
(Percent change from preceding quarter)
Real GDP...............................................
Current-dollar GDP...............................
Gross domestic purchases price index...

2.4
4.3
0.1

1.6
3.6
0.1

Corporate Profits
Profits from current production (corporate profits with inventory valuation and capital
consumption adjustments) increased $72.7 billion in the second quarter, compared with an increase of
$148.4 billion in the first quarter. Current-production cash flow (net cash flow with inventory valuation
adjustment) -- the internal funds available to corporations for investment -- increased $53.7 billion in the
second quarter, compared with an increase of $33.3 billion in the first.
Taxes on corporate income increased $39.0 billion in the second quarter, compared with an
increase of $84.1 billion in the first. Profits after tax with inventory valuation and capital consumption
adjustments increased $33.8 billion in the second quarter, compared with an increase of $64.1 billion in
the first. Dividends increased $4.5 billion compared with an increase of $11.8 billion; currentproduction undistributed profits increased $29.2 billion, compared with an increase of $52.4 billion.

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-4-

Domestic profits of financial corporations decreased $0.4 billion in the second quarter, in contrast
to an increase of $5.2 billion in the first. Domestic profits of nonfinancial corporations increased $67.9
billion in the second quarter, compared with an increase of $117.2 billion in the first. In the second
quarter, real gross value added of nonfinancial corporations increased, and profits per unit of real value
added increased. The increase in unit profits reflected an increase in unit prices and decreases in both
the unit labor and nonlabor costs corporations incurred.
The rest-of-the-world component of profits increased $5.3 billion in the second quarter, compared
with an increase of $25.9 billion in the first. This measure is calculated as (1) receipts by U.S. residents
of earnings from their foreign affiliates plus dividends received by U.S. residents from unaffiliated
foreign corporations minus (2) payments by U.S. affiliates of earnings to their foreign parents plus
dividends paid by U.S. corporations to unaffiliated foreign residents. The second-quarter increase was
accounted for by a larger increase in receipts than in payments.
Profits before tax increased $41.0 billion in the second quarter, compared with an increase of
$224.5 billion in the first. The before-tax measure of profits does not reflect, as does profits from
current production, the capital consumption and inventory valuation adjustments. These adjustments
convert depreciation of fixed assets and inventory withdrawals reported on a tax-return, historical-cost
basis to the current-cost measures used in the national income and product accounts. The capital
consumption adjustment decreased $1.2 billion in the second quarter (from -$169.9 billion to -$171.1
billion), compared with a decrease of $106.9 billion in the first. The inventory valuation adjustment
increased $32.9 billion (from -$36.4 billion to -$3.5 billion), compared with an increase of $30.8 billion.

*

*

*

BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov. By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

*

*

*

Next release -- September 30, 2010, at 8:30 A.M. EDT for:
Gross Domestic Product: Second Quarter 2010 (Third Estimate)
Corporate Profits: Second Quarter 2010 (Revised Estimate)

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Table 1. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
Seasonally adjusted at annual rates
2007

2008

2009

2006
III

2007
IV

I

II

2008
III

IV

I

II

2009
III

IV

I

II

2010
III

IV

I

r

II r

Gross domestic product (GDP) ...
1.9
0.0
–2.6
0.1
3.0
0.9
3.2
2.3
2.9
–0.7
0.6
–4.0
–6.8
–4.9
–0.7
1.6
5.0
3.7
1.6
Personal consumption expenditures .....
2.4
–0.3
–1.2
2.5
4.1
2.4
1.5
1.7
1.4
–0.8
0.1
–3.5
–3.3
–0.5
–1.6
2.0
0.9
1.9
2.0
Goods.....................................................
2.8
–2.5
–2.0
3.3
5.9
2.3
1.4
2.4
1.1
–5.8
0.3
–7.7 –10.8
1.8
–1.5
7.2
1.7
5.7
3.6
Durable goods ....................................
4.2
–5.2
–3.7
4.5
5.6
4.6
4.6
3.8
2.4 –10.8
–2.9 –12.0 –22.3
4.8
–3.1
20.1
–1.1
8.8
6.9
Nondurable goods ..............................
2.0
–1.1
–1.2
2.6
6.1
1.1
–0.2
1.7
0.5
–3.0
2.0
–5.5
–4.9
0.4
–0.7
1.7
3.1
4.2
2.1
Services..................................................
2.2
0.9
–0.8
2.1
3.1
2.4
1.6
1.4
1.5
1.9
0.0
–1.3
0.6
–1.6
–1.7
–0.5
0.5
0.1
1.2
Gross private domestic investment........
–3.1
–9.5 –22.6
–5.5 –10.9
–3.6
9.5
–2.9
–9.4
–9.4
–7.6 –12.5 –36.8 –42.2 –18.5
11.8
26.7
29.1
25.0
Fixed investment.....................................
–1.8
–6.4 –18.3
–5.0
–5.3
–1.0
3.7
–1.2
–4.8
–6.2
–4.6 –11.9 –24.9 –35.4 –10.1
0.7
–1.3
3.3
19.5
Nonresidential.....................................
6.7
0.3 –17.1
4.4
2.3
6.8
11.1
9.4
5.7
2.0
–1.6
–8.6 –22.7 –35.2
–7.5
–1.7
–1.4
7.8
17.6
Structures........................................
14.1
5.9 –20.4
10.3
1.5
10.7
28.0
24.3
7.4
–0.1
7.5
–3.6
–8.9 –41.0 –20.2 –12.4 –29.2 –17.8
0.4
Equipment and software .................
3.7
–2.4 –15.3
2.2
2.8
5.1
4.3
2.9
4.8
3.0
–6.0 –11.1 –29.5 –31.6
0.2
4.2
14.6
20.4
24.9
Residential .......................................... –18.7 –24.0 –22.9 –21.2 –19.7 –16.4 –12.0 –24.1 –29.3 –27.9 –14.0 –22.6 –32.6 –36.2 –19.7
10.6
–0.8 –12.3
27.2
Change in private inventories ................. ............ ............ ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ........... ........... ............ ............ ........... ........... ...........
Net exports of goods and services ........ ............ ............ ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ........... ........... ............ ............ ........... ........... ...........
Exports ...................................................
9.3
6.0
–9.5
0.6
17.8
6.4
6.8
15.8
11.6
5.7
13.2
–5.0 –21.9 –27.8
–1.0
12.2
24.4
11.4
9.1
Goods .................................................
9.8
6.3 –12.0
0.2
13.1
12.9
7.6
12.8
9.9
9.6
14.5
–4.3 –26.6 –34.1
–3.7
18.7
31.7
14.0
12.2
Services..............................................
8.3
5.3
–3.9
1.5
29.1
–6.9
4.9
23.0
15.7
–2.8
10.2
–6.6
–9.8 –12.3
4.7
0.1
10.2
5.8
2.5
Imports ...................................................
2.7
–2.6 –13.8
4.9
–0.5
4.6
4.6
5.0 –10.6
–1.4
2.9
–0.1 –22.9 –35.3 –10.6
21.9
4.9
11.2
32.4
Goods .................................................
2.9
–3.5 –15.8
5.5
–2.3
6.8
4.8
5.1 –11.8
–3.3
4.6
–1.0 –28.3 –38.9 –10.6
27.4
6.2
12.0
39.3
Services..............................................
1.4
2.4
–4.2
1.3
10.0
–6.3
3.6
4.4
–4.0
9.4
–6.0
5.0
11.7 –16.8 –10.9
1.5
–0.5
7.8
4.2
Government consumption expenditures
and gross investment...........................
1.3
2.8
1.6
0.6
1.1
–0.5
3.4
3.5
1.2
2.3
3.3
5.3
1.5
–3.0
6.1
1.6
–1.4
–1.6
4.3
Federal ...................................................
1.2
7.3
5.7
–0.4
1.1
–4.8
7.1
9.6
1.1
6.9
7.8
14.2
8.1
–5.0
14.9
5.7
0.0
1.8
9.1
National defense.................................
2.2
7.5
5.4
–1.9
8.5
–7.2
8.3
10.2
0.0
6.8
6.9
19.7
5.2
–8.4
16.8
9.0
–2.5
0.4
7.3
Nondefense ........................................
–0.8
6.7
6.5
2.9 –12.7
0.5
4.7
8.2
3.4
6.9
9.6
3.0
14.8
2.6
10.9
–0.9
5.6
5.0
12.9
State and local........................................
1.4
0.3
–0.9
1.2
1.1
2.1
1.3
0.2
1.3
–0.3
0.8
0.3
–2.4
–1.7
1.0
–1.0
–2.3
–3.8
1.2
Addenda:
Final sales of domestic product..............
2.2
0.5
–2.1
0.2
4.1
1.3
2.3
2.6
3.7
–0.2
1.1
–3.9
–4.6
–3.9
0.2
0.4
2.1
1.1
1.0
Gross domestic purchases.....................
1.3
–1.1
–3.6
0.8
1.0
0.9
3.1
1.3
–0.4
–1.6
–0.5
–3.2
–7.7
–7.2
–2.1
3.0
3.0
3.9
4.9
Final sales to domestic purchasers ........
1.5
–0.6
–3.1
0.9
2.0
1.3
2.2
1.6
0.4
–1.1
0.0
–3.1
–5.7
–6.3
–1.2
1.8
0.2
1.3
4.3
Gross national product (GNP) ................
2.3
0.3
–2.8
–0.3
3.2
0.8
3.5
4.1
4.4
–0.9
0.1
–3.2
–8.6
–4.9
–0.5
2.6
4.9
4.4
1.7
Disposable personal income ..................
2.3
1.7
0.6
1.9
5.3
1.8
0.6
1.5
2.2
1.4
9.2
–8.4
2.7
0.4
5.9
–4.4
0.0
1.3
4.4
Current-dollar measures:
GDP ....................................................
4.9
2.2
–1.7
3.2
4.8
5.3
6.5
4.4
3.8
1.0
4.1
0.4
–7.9
–3.9
–0.4
2.3
4.7
4.8
3.6
Final sales of domestic product ..........
5.2
2.7
–1.1
3.3
6.0
5.8
5.6
4.6
4.6
1.8
4.3
0.5
–6.1
–2.7
0.6
1.2
1.8
2.1
2.9
Gross domestic purchases .................
4.3
2.1
–3.8
3.7
1.9
5.4
6.3
3.4
3.4
2.1
4.2
0.6 –11.7
–9.2
–1.5
4.3
5.1
6.2
5.0
Final sales to domestic purchasers ....
4.5
2.5
–3.2
3.8
3.0
5.8
5.5
3.6
4.1
2.9
4.5
0.8 –10.1
–8.1
–0.5
3.3
2.2
3.5
4.4
GNP ....................................................
5.3
2.5
–1.9
2.8
5.1
5.3
6.7
6.3
5.3
0.9
3.5
1.1
–9.8
–4.0
–0.2
3.4
4.6
5.5
3.6
Disposable personal income...............
5.1
5.1
0.7
4.9
5.3
5.8
4.1
3.9
6.5
5.4
14.3
–4.4
–3.3
–1.2
8.0
–1.6
2.7
3.4
4.3
r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2010.
See “Explanatory Note” at the end of the tables.

Table 2. Contributions to Percent Change in Real Gross Domestic Product
Seasonally adjusted at annual rates
2007

2008

2009

2006
III

Percent change at annual rate:
Gross domestic product .................................
Percentage points at annual rates:
Personal consumption expenditures ....................
Goods ...................................................................
Durable goods ...................................................
Motor vehicles and parts................................
Furnishings and durable household
equipment ..................................................
Recreational goods and vehicles ...................
Other durable goods ......................................
Nondurable goods .............................................
Food and beverages purchased for offpremises consumption ...............................
Clothing and footwear ....................................
Gasoline and other energy goods..................
Other nondurable goods ................................
Services................................................................
Household consumption expenditures (for
services) ........................................................
Housing and utilities.......................................
Health care.....................................................
Transportation services..................................
Recreation services .......................................
Food services and accommodations .............
Financial services and insurance...................
Other services................................................
Final consumption expenditures of nonprofit
institutions serving households......................
Gross output of nonprofit institutions .............
Less: Receipts from sales of goods and
services by nonprofit institutions ................
Gross private domestic investment...................
Fixed investment..............................................
Nonresidential ................................................
Structures...................................................
Equipment and software ............................
Information processing equipment and
software ..............................................
Computers and peripheral equipment
Software..............................................
Other...................................................
Industrial equipment ...............................
Transportation equipment.......................
Other equipment.....................................
Residential .....................................................
Change in private inventories.........................
Farm...............................................................
Nonfarm .........................................................
Net exports of goods and services....................
Exports .............................................................
Goods ............................................................
Services .........................................................
Imports .............................................................
Goods ............................................................
Services .........................................................
Government consumption expenditures and
gross investment .............................................
Federal..............................................................
National defense ............................................
Consumption expenditures.........................
Gross investment .......................................
Nondefense....................................................
Consumption expenditures.........................
Gross investment .......................................
State and local .................................................
Consumption expenditures.........................
Gross investment .......................................
Addenda:
Goods ................................................................
Services.............................................................
Structures ..........................................................
Motor vehicle output ..........................................
Final sales of computers....................................
r Revised
See “Explanatory Note” at the end of the tables.

1.9

0.0

–2.6

1.65 –0.18 –0.84
0.66 –0.60 –0.46
0.35 –0.42 –0.27
0.05 –0.39 –0.17

0.1

IV

I

3.0

0.9

1.70 2.79
0.78 1.39
0.37 0.46
0.21 –0.02

1.64
0.56
0.38
0.06

0.03 –0.07 –0.12 0.04
0.26 0.08 0.03 0.18
0.01 –0.04 –0.02 –0.06
0.31 –0.18 –0.18 0.40
0.09 –0.04 –0.05
0.09 –0.01 –0.10
–0.02 –0.13 0.03
0.16 0.01 –0.06
0.99 0.41 –0.38

2007

0.07
0.14
0.10
0.10
0.92

0.04
0.44
0.01
0.93

II
3.2

2008
III
2.3

IV
2.9

1.08 1.20 0.98
0.34 0.57 0.27
0.38 0.31 0.20
0.17 –0.08 –0.07

0.10 –0.07
0.21 0.20
0.01 0.07
0.17 –0.03

0.33 –0.01 –0.11
0.17 0.12 0.04
0.00 –0.05 –0.07
0.43 0.11 0.11
1.40 1.08 0.74

0.04
0.32
0.03
0.27

0.02
0.23
0.01
0.07

0.09 0.19
0.08 –0.02
–0.01 –0.12
0.11 0.02
0.62 0.71

I

I

II

–4.0

–6.8

–4.9

–0.7

1.6

5.0

3.7

1.6

–0.54 0.08
–1.42 0.08
–0.92 –0.23
–0.53 –0.57

–2.46 –2.26
–1.86 –2.57
–0.95 –1.79
–0.60 –0.85

–0.34
0.41
0.35
0.26

–1.12
–0.32
–0.21
–0.10

1.41
1.62
1.35
0.83

0.69
0.42
–0.07
–0.56

1.33
1.29
0.62
–0.06

1.38
0.82
0.49
0.16

–0.18
–0.13
–0.09
–0.50

–0.20 –0.33 –0.15 –0.12
–0.09 –0.39 0.19 –0.05
–0.06 –0.22 0.06 0.05
–0.91 –0.78 0.06 –0.11

0.12
0.36
0.05
0.27

0.16
0.34
–0.01
0.49

0.23
0.28
0.18
0.67

0.15
0.21
–0.03
0.33

–0.26 –0.50 0.01
–0.27 –0.28 –0.07
–0.41 0.30 0.14
0.03 –0.29 –0.02
–0.59 0.30 –0.75

0.20 0.22
–0.10 0.01
–0.01 –0.04
–0.20 0.08
–0.79 –0.21

0.28
0.13
–0.05
0.14
0.27

0.20
0.26
0.02
0.18
0.03

–0.18
0.14
0.11
0.26
0.56

–0.79 0.08
–0.20 0.60
–0.02 0.23
–0.18 –0.31
–0.12 –0.09
–0.15 –0.30
0.03 –0.26
–0.14 0.22

–0.29
0.01
0.40
–0.23
0.02
–0.19
–0.30
0.00

–0.46
0.06
0.38
–0.10
–0.08
–0.16
–0.23
–0.34

–0.37
0.24
–0.01
–0.07
–0.12
–0.06
–0.21
–0.14

0.12
0.23
0.21
–0.02
–0.03
0.02
–0.21
–0.08

–0.46
–0.11

–0.34 0.16
–0.05 –0.02

0.15
0.12

0.02
–0.07

0.07
0.11

–0.11 0.10 0.34
–1.95 –6.32 –6.80
–1.83 –4.01 –5.71
–1.00 –2.84 –4.49
–0.14 –0.36 –1.99
–0.86 –2.47 –2.50

0.28 –0.18
–2.30 1.22
–1.26 0.12
–0.72 –0.13
–0.76 –0.41
0.04 0.28

–0.03
2.70
–0.12
–0.10
–1.01
0.91

–0.09
3.04
0.39
0.71
–0.53
1.24

0.04
2.75
2.12
1.54
0.01
1.53

–0.19
–0.12
0.04
–0.11
–0.11
–0.59
0.04
–0.84
–0.12
–0.08
–0.04
–0.63
–0.66
–0.41
–0.25
0.03
0.15
–0.12

0.36
0.09
0.16
0.12
–0.17
0.22
–0.38
–0.54
–1.03
0.12
–1.15
1.47
–0.08
–0.26
0.18
1.55
1.23
0.33

0.52 0.79
0.12 0.36
0.13 0.25
0.27 0.18
–0.11 –0.03
–0.05 0.20
–0.07 –0.05
0.25 –0.02
1.10 2.83
–0.19 0.21
1.29 2.62
–1.37 1.90
1.30 2.56
1.29 2.19
0.01 0.37
–2.67 –0.66
–2.64 –0.68
–0.03 0.02

0.32
0.03
0.17
0.12
0.00
0.62
0.30
–0.32
2.64
0.07
2.57
–0.31
1.30
1.09
0.21
–1.61
–1.41
–0.20

0.56
0.24
0.14
0.17
0.39
0.40
0.18
0.58
0.63
0.08
0.55
–3.37
1.08
0.99
0.09
–4.45
–4.34
–0.11

0.6

0.09
0.28
–0.02
0.31

–0.07 –0.01
–0.05 0.23
–0.22 –0.13
–0.15 0.22
0.88 0.00

1.16 0.84 0.36 0.42 0.74 –0.04
0.10 –0.03 0.12 –0.07 0.31 0.04
0.47 0.16 0.14 0.29 0.58 0.29
0.05 0.00 –0.04 –0.06 –0.11 –0.15
0.05 0.10 0.11 0.00 –0.01 –0.03
–0.01 0.15 0.12 0.16 –0.23 0.06
0.21 0.30 0.13 0.14 0.02 –0.08
0.28 0.15 –0.22 –0.04 0.18 –0.16

0.08
0.17

–0.08 –0.10
0.29 0.00

0.34
0.15

0.01
0.19

0.09 0.02 0.12 –0.19
–0.53 –1.53 –3.24 –0.99
–0.30 –1.02 –2.69 –0.86
0.75 0.03 –1.96 0.49
0.46 0.22 –0.81 0.32
0.29 –0.19 –1.15 0.17

0.18
–1.99
–0.91
0.27
0.05
0.22

0.33
0.08
0.10
0.14
0.05
–0.08
–0.01
–1.05
–0.23
0.03
–0.26
0.57
1.02
0.75
0.28
–0.45
–0.42
–0.04
0.25
0.09
0.10
0.07
0.03
–0.02
–0.02
0.00
0.17
0.15
0.02

0.23
0.08
0.10
0.05
–0.06
–0.31
–0.05
–1.05
–0.51
0.01
–0.53
1.18
0.72
0.53
0.19
0.46
0.52
–0.07

–0.08
0.04

0.01
–0.01
0.03
–0.02
–0.31
–0.54
–0.30
–0.74
–0.55
0.02
–0.57
1.13
–1.18
–1.04
–0.15
2.32
2.20
0.12

0.37
–0.65
–0.15
0.75
0.35
0.40

0.11
–0.03
0.01
0.13
0.38
–0.32
0.18
–0.62
0.90
–0.31
1.21
0.01
0.76
0.58
0.17
–0.75
–0.65
–0.10

0.54 0.32 0.11 0.21 –0.09
0.51 0.43 –0.03 0.08 –0.33
0.36 0.27 –0.09 0.38 –0.34
0.27 0.23 0.02 0.24 –0.27
0.09 0.04 –0.11 0.14 –0.08
0.15 0.16 0.06 –0.30 0.01
0.13 0.14 0.06 –0.30 0.02
0.02 0.01 0.01 0.00 –0.01
0.04 –0.11 0.14 0.14 0.25
0.00 –0.07 0.18 0.24 0.17
0.03 –0.05 –0.04 –0.10 0.07

0.64
0.48
0.38
0.20
0.17
0.10
0.08
0.03
0.16
0.14
0.02

1.94
2.19
–1.18
–0.33
0.13

0.55
0.92
–0.59
0.29
0.02

0.29
0.27

0.14
0.30

0.04
0.11

0.10 –0.20 –0.02 0.17 0.07
1.51 –0.46 –1.53 –1.47 –1.17
0.62 –0.18 –0.76 –0.98 –0.69
1.23 1.06 0.67 0.25 –0.16
0.88 0.82 0.28 0.00 0.30
0.35 0.24 0.39 0.25 –0.46

0.34 0.11 0.64
0.16 0.01 0.15
0.11 0.13 0.18
0.06 –0.03 0.30
–0.05 0.03 –0.09
–0.01 0.05 –0.01
–0.11 0.03 –0.13
–1.36 –1.18 –0.91
–0.13 –1.08 –0.49
0.06 0.08 0.25
–0.19 –1.15 –0.74
–0.71 1.94 –0.02
0.06 1.84 0.71
0.01 0.96 0.95
0.05 0.87 –0.24
–0.78 0.10 –0.73
–0.74 0.35 –0.89
–0.04 –0.25 0.16

1.11 –0.13 –0.99 0.03
1.43 0.94 –0.10 1.19
–0.60 –0.81 –1.54 –1.12
0.00 –0.53 –0.56 0.12
0.10 0.14 0.03 0.07

0.27
0.07

1.69
1.23
0.32
0.13
0.07

0.32
0.11
0.06
0.15
0.01
–0.08
–0.01
–1.24
–0.28
0.08
–0.36
0.87
1.71
0.98
0.74
–0.84
–0.72
–0.12

0.61
0.15
0.09
0.38
–0.27
0.04
0.00
–1.43
–0.77
0.06
–0.82
3.21
1.32
0.78
0.54
1.89
1.78
0.11

0.38
0.19
0.26
–0.07
0.04
–0.02
–0.14
–1.23
–0.49
–0.19
–0.30
0.84
0.67
0.78
–0.11
0.18
0.42
–0.24

0.25
0.11
0.04
0.10
–0.04
–0.67
0.01
–0.53
–0.48
0.37
–0.85
1.04
1.61
1.24
0.37
–0.57
–0.75
0.18

0.66 0.24 0.44 0.65
0.64 0.08 0.47 0.55
0.47 0.01 0.32 0.34
0.45 0.01 0.31 0.02
0.01 0.00 0.01 0.32
0.18 0.07 0.15 0.21
0.15 0.08 0.13 0.17
0.02 –0.01 0.02 0.04
0.02 0.16 –0.04 0.10
0.02 0.09 –0.06 –0.05
0.00 0.07 0.02 0.14
0.89 2.52 –0.36
1.87 1.53 0.92
–0.49 –1.16 –1.28
–0.06 –0.45 –0.23
0.26 0.19 0.11

–0.09
0.69
–0.01
–1.09
0.19

0.20
0.08

0.22
0.32

–0.52
–0.19
–0.04
–0.30
–0.30
–1.16
–0.50
–1.18
–2.31
0.13
–2.44
1.50
–3.03
–2.65
–0.38
4.53
4.82
–0.29

1.04 0.31
1.00 0.61
0.93 0.28
0.81 0.26
0.12 0.02
0.07 0.33
0.04 0.30
0.03 0.03
0.04 –0.30
0.04 –0.11
0.00 –0.19
–3.01
–0.08
–0.91
–0.53
0.04

–5.19
0.08
–1.66
–1.72
0.08

–0.25
–0.07
–0.12
–0.07
–0.78
–0.92
–0.55
–1.22
–1.09
–0.11
–0.97
2.88
–3.61
–3.14
–0.47
6.48
5.95
0.53

–0.61 1.24
–0.40 1.11
–0.45 0.85
–0.29 0.67
–0.17 0.17
0.06 0.26
0.09 0.25
–0.03 0.01
–0.21 0.13
–0.07 –0.03
–0.15 0.16

III

IV

I

II r

IV

0.92 0.25 –0.30 0.59 1.38
0.08 0.09 0.14 0.30 –0.16
0.24 0.29 0.23 –0.11 0.37
0.02 –0.12 –0.18 –0.01 0.09
0.11 –0.01 –0.06 0.13 0.22
0.07 –0.03 –0.16 0.00 0.18
0.24 0.03 –0.21 0.13 0.40
0.16 –0.02 –0.07 0.15 0.28
0.16
0.18

2010

III

–0.7

II

2009

0.01 0.49
–0.06 0.11
–0.04 0.10
0.07 0.08
0.00 –0.11
0.29 0.10
–0.16 0.16
–0.08 0.04

0.33 –0.28 –0.32 0.86
0.45 0.01 0.15 0.72
0.48 –0.13 0.02 0.39
0.37 –0.17 0.02 0.24
0.12 0.04 0.01 0.15
–0.03 0.14 0.13 0.32
–0.07 0.12 0.07 0.27
0.04 0.02 0.06 0.05
–0.12 –0.29 –0.48 0.14
–0.17 –0.03 –0.11 –0.10
0.05 –0.25 –0.36 0.24

–0.62 –0.17 1.67
–0.95 0.61 –0.10
–3.30 –1.14 0.02
–1.18 –0.04 1.56
0.05 –0.06 –0.02

5.74
0.57
–1.30
0.25
0.09

4.90 –0.18
0.02 0.95
–1.18 0.84
0.74 –0.08
0.10 0.03

Table 3. Gross Domestic Product and Related Measures: Level and Change From Preceding Period
Billions of current dollars

Billions of chained (2005) dollars

Seasonally adjusted at annual rates
2009

2009

Seasonally adjusted at annual rates

2010

2009

2009

Change from preceding period

2010

2010
2009

II
Gross domestic product .................................
Personal consumption expenditures ....................
Goods ...................................................................
Durable goods ...................................................
Motor vehicles and parts................................
Furnishings and durable household
equipment ..................................................
Recreational goods and vehicles ...................
Other durable goods ......................................
Nondurable goods .............................................
Food and beverages purchased for offpremises consumption ...............................
Clothing and footwear ....................................
Gasoline and other energy goods..................
Other nondurable goods ................................
Services................................................................
Household consumption expenditures (for
services) ........................................................
Housing and utilities.......................................
Health care.....................................................
Transportation services..................................
Recreation services .......................................
Food services and accommodations .............
Financial services and insurance...................
Other services................................................
Final consumption expenditures of nonprofit
institutions serving households......................
Gross output of nonprofit institutions .............
Less: Receipts from sales of goods and
services by nonprofit institutions ................
Gross private domestic investment.......................
Fixed investment .................................................
Nonresidential....................................................
Structures.......................................................
Equipment and software ................................
Information processing equipment and
software ..................................................
Computers and peripheral equipment ....
Software .................................................
Other ......................................................
Industrial equipment...................................
Transportation equipment...........................
Other equipment ........................................
Residential .........................................................
Change in private inventories ............................
Farm ..................................................................
Nonfarm .............................................................
Net exports of goods and services .......................
Exports .................................................................
Goods ................................................................
Services.............................................................
Imports .................................................................
Goods ................................................................
Services.............................................................
Government consumption expenditures and
gross investment .................................................
Federal..................................................................
National defense................................................
Consumption expenditures ............................
Gross investment ...........................................
Nondefense .......................................................
Consumption expenditures ............................
Gross investment ...........................................
State and local .....................................................
Consumption expenditures ................................
Gross investment...............................................
Residual ....................................................................
Addenda:
Final sales of domestic product.............................
Gross domestic purchases....................................
Final sales to domestic purchasers .......................
Gross domestic product .....................................
Plus: Income receipts from the rest of the world ...
Less: Income payments to the rest of the world ....
Equals: Gross national product .........................
Net domestic product.............................................

III

IV

I

II

r

II

III

IV

I

II

r

14,119.0 14,034.5 14,114.7 14,277.3 14,446.4 14,575.0 12,880.6 12,810.0 12,860.8 13,019.0 13,138.8 13,191.5
10,001.3 9,920.1 10,040.7 10,131.5 10,230.8 10,279.6 9,153.9 9,117.0 9,161.6 9,182.9 9,225.4 9,270.3
3,230.7 3,175.4 3,276.1 3,312.9 3,380.0 3,378.3 3,117.4 3,084.0 3,138.2 3,151.8 3,195.4 3,223.5
1,026.5 1,004.7 1,045.2 1,043.9 1,060.7 1,074.2 1,094.6 1,068.2 1,118.3 1,115.1 1,138.9 1,158.0
319.7
306.5
339.1
327.0
328.3
336.2
324.0
313.5
342.7
322.7
320.6
326.3

II r

I
–348.2
–111.1
–62.9
–41.8
–24.2

119.8
42.5
43.6
23.8
–2.1

52.7
44.9
28.1
19.1
5.7

248.1
317.5
141.1
2,204.2

246.4
311.4
140.3
2,170.7

246.9
317.1
142.1
2,231.0

249.3
323.9
143.7
2,269.0

255.3
328.8
148.3
2,319.3

258.1
332.1
147.9
2,304.1

253.9
399.3
126.9
2,017.4

249.3
387.2
126.5
2,008.3

253.5
402.8
128.1
2,016.9

259.3
417.9
127.8
2,032.3

267.9
430.7
133.4
2,053.5

273.6
440.5
132.6
2,064.1

–17.5
5.6
–3.0
–23.8

8.6
12.8
5.6
21.2

5.7
9.8
–0.8
10.6

777.9
322.2
303.7
800.4
6,770.6

774.2
319.1
279.9
797.6
6,744.7

777.0
322.4
326.2
805.5
6,764.6

786.5
325.5
344.1
812.9
6,818.6

797.4
333.8
364.1
824.1
6,850.9

793.9
335.4
341.3
833.4
6,901.3

685.1
326.8
285.5
723.1
6,032.7

681.2
324.6
286.5
719.2
6,027.7

687.8
324.9
285.1
721.7
6,020.7

696.3
329.5
283.5
726.0
6,028.7

702.7
339.0
284.0
731.9
6,029.6

697.0
344.2
287.3
740.1
6,047.3

–6.5
–14.9
3.5
–8.2
–49.6

6.4
9.5
0.5
5.9
0.9

–5.7
5.2
3.3
8.2
17.7

6,511.8
1,876.3
1,623.2
290.1
378.8
603.6
813.8
925.9

6,493.8
1,870.0
1,618.9
288.8
378.5
602.6
813.3
921.8

6,507.5
1,877.5
1,629.5
288.3
377.9
601.2
809.3
923.8

6,556.2
1,887.6
1,650.1
290.2
377.3
604.7
816.3
930.1

6,589.6
1,887.1
1,657.5
294.6
376.8
615.2
824.9
933.3

6,636.5
1,891.1
1,672.1
299.5
374.9
623.2
833.3
942.3

5,777.0
1,656.9
1,440.4
250.9
341.8
527.7
743.0
817.0

5,778.4
1,652.0
1,442.1
251.3
343.3
527.2
746.2
817.2

5,766.5
1,659.4
1,441.6
249.3
339.5
525.4
739.4
812.7

5,769.7
1,666.3
1,447.9
248.6
338.6
526.1
732.5
810.1

5,769.9
1,664.3
1,446.7
250.8
338.5
535.0
727.4
807.7

5,785.3
1,667.7
1,449.7
253.4
335.0
538.2
732.6
808.9

–39.1
18.3
30.4
–22.2
–8.2
–19.9
–27.9
–9.5

0.2
–2.0
–1.2
2.2
–0.1
8.9
–5.1
–2.4

15.4
3.4
3.0
2.6
–3.5
3.2
5.2
1.2

258.9
1,058.1

250.9
1,052.2

257.1
1,059.0

262.4
1,070.7

261.3
1,071.5

264.8
1,082.9

256.0
952.1

249.0
951.0

254.6
950.3

259.9
954.1

260.6
952.0

263.2
955.5

–11.3
5.3

0.7
–2.1

2.6
3.5

799.2
1,589.2
1,716.4
1,364.4
451.6
912.8

801.3
1,530.2
1,709.8
1,367.5
464.0
903.5

801.9
1,548.5
1,691.8
1,343.8
436.6
907.2

808.3
1,637.7
1,681.9
1,330.9
398.2
932.7

810.2
1,739.7
1,689.8
1,349.6
380.1
969.5

818.2
1,838.7
1,764.2
1,406.1
383.0
1,023.1

696.0
1,515.7
1,630.7
1,290.8
369.6
916.3

701.2
1,453.2
1,619.6
1,288.3
377.8
903.8

695.6
1,494.5
1,622.4
1,282.9
365.5
913.1

694.7
1,585.7
1,617.1
1,278.3
335.3
944.7

692.0
1,690.2
1,630.5
1,302.6
319.3
989.7

693.2
1,787.0
1,704.7
1,356.5
319.6
1,046.3

15.4
–441.6
–366.3
–265.8
–94.6
–165.7

–2.7
104.5
13.4
24.3
–16.0
45.0

1.2
96.8
74.2
53.9
0.3
56.6

530.7
80.0
260.2
190.4
150.4
76.4
155.4
352.1
–127.2
3.8
–131.1
–386.4
1,578.4
1,063.1
515.3
1,964.7
1,587.8
376.9

518.6
76.0
257.7
184.8
150.8
79.8
154.4
342.2
–179.5
6.6
–186.1
–335.2
1,520.2
1,011.7
508.5
1,855.3
1,485.7
369.7

533.7
78.9
260.0
194.7
147.1
76.0
150.5
348.0
–143.3
–0.7
–142.6
–408.3
1,582.1
1,068.6
513.6
1,990.5
1,613.8
376.6

559.0
90.1
269.4
199.5
146.4
78.8
148.6
351.0
–44.2
7.1
–51.3
–426.4
1,689.9
1,157.6
532.3
2,116.3
1,731.8
384.5

568.0
90.5
274.7
202.8
146.8
97.0
157.7
340.2
50.0
9.3
40.7
–479.9
1,757.8
1,213.0
544.8
2,237.6
1,843.5
394.1

586.0
595.8
581.4
601.8
632.9
645.7
668.8
1.1
12.8
23.1
98.3 .............. .............. ............. .............. .............. .............. .............. ............. ..............
279.4
259.3
256.2
260.7
269.5
275.4
280.7
4.4
5.9
5.3
208.2
215.5
209.5
220.3
227.4
232.3
239.5
–2.4
4.9
7.2
161.8
132.2
132.8
129.3
128.3
128.4
140.8
–40.0
0.1
12.4
110.8
69.4
70.5
68.5
74.5
95.8
110.1
–73.6
21.3
14.3
164.5
137.8
136.4
134.1
132.7
142.4
148.3
–39.7
9.7
5.9
358.1
342.7
333.9
342.4
341.7
330.7
351.1 –101.5
–11.0
20.4
74.5 –113.1 –161.8 –128.2
–36.7
44.1
63.2
–75.5
80.8
19.1
11.6
3.4
6.0
–0.6
6.4
7.6
9.7
2.4
1.2
2.1
62.9 –116.9 –168.5 –127.7
–43.0
36.5
53.4
–77.9
79.5
16.9
–536.0 –363.0 –342.0 –390.8 –330.1 –338.4 –444.9
141.1
–8.3 –106.5
1,817.6 1,490.7 1,447.8 1,490.0 1,573.5 1,616.4 1,652.2 –157.0
42.9
35.8
1,264.4 1,018.2
976.4 1,019.1 1,091.7 1,128.0 1,161.0 –138.4
36.3
33.0
553.3
472.0
470.4
470.5
482.0
488.9
491.9
–19.1
6.9
3.0
2,353.6 1,853.8 1,789.9 1,880.8 1,903.6 1,954.8 2,097.0 –297.9
51.2
142.2
1,953.4 1,513.5 1,452.0 1,542.7 1,566.1 1,611.0 1,750.0 –283.1
44.9
139.0
400.2
340.5
337.5
338.7
338.3
344.6
348.2
–15.0
6.3
3.6

2,914.9 2,919.3 2,933.8 2,934.5 2,955.7 2,992.6
1,139.6 1,139.8 1,155.4 1,159.9 1,178.1 1,206.5
771.6
769.9
787.3
785.4
796.3
812.8
664.1
663.4
676.9
673.5
684.0
695.0
107.5
106.5
110.4
111.9
112.4
117.9
368.0
369.8
368.1
374.5
381.8
393.7
323.0
325.6
322.8
328.3
333.3
343.3
45.0
44.2
45.3
46.2
48.4
50.3
1,775.3 1,779.5 1,778.4 1,774.7 1,777.6 1,786.1
1,424.4 1,424.0 1,425.6 1,432.2 1,447.4 1,446.0
351.0
355.5
352.8
342.4
330.2
340.2
.............. ............... ............... ............... .............. ..............
14,246.3
14,505.4
14,632.7
14,119.0
629.8
483.6
14,265.3
12,257.9

14,214.0
14,369.6
14,549.1
14,034.5
611.7
482.0
14,164.2
12,172.1

14,258.0
14,523.0
14,666.3
14,114.7
627.4
460.1
14,281.9
12,266.4

14,321.5
14,703.7
14,748.0
14,277.3
664.7
499.1
14,442.8
12,425.1

14,396.4
14,926.3
14,876.3
14,446.4
693.7
502.6
14,637.6
12,594.0

14,500.5
15,110.9
15,036.4
14,575.0
709.2
515.5
14,768.6
12,714.3

2,542.6
1,027.6
693.0
591.7
101.9
334.6
290.6
44.0
1,518.8
1,232.1
286.8
2.3

2,549.3
1,029.2
693.2
592.6
101.1
335.9
292.7
43.1
1,523.8
1,234.7
289.1
11.0

2,559.3
1,043.5
708.3
604.0
104.8
335.2
290.7
44.5
1,520.0
1,229.5
290.4
4.7

2,550.3
1,043.6
703.8
598.5
106.0
339.8
294.5
45.3
1,511.2
1,228.4
282.9
–13.7

2,540.2
1,048.4
704.4
598.9
106.2
344.0
296.6
47.5
1,496.8
1,225.1
272.1
–22.1

12,992.8
13,233.6
13,345.0
12,880.6
575.5
441.6
13,014.7
11,137.3

12,971.4
13,143.7
13,304.3
12,810.0
560.4
441.3
12,929.4
11,068.1

12,984.5
13,239.8
13,362.6
12,860.8
572.7
419.9
13,013.8
11,116.7

13,051.1
13,338.2
13,369.9
13,019.0
604.0
453.1
13,170.1
11,271.2

13,085.5
13,467.6
13,414.3
13,138.8
627.8
454.0
13,313.0
11,384.8

2,566.8
39.9
–10.1
26.6
1,071.3
55.8
4.8
22.9
716.9
35.3
0.6
12.5
606.6
29.6
0.4
7.7
111.2
5.8
0.2
5.0
354.5
20.6
4.2
10.5
305.3
18.8
2.1
8.7
49.4
1.7
2.2
1.9
1,501.1
–13.8
–14.4
4.3
1,222.0
–8.1
–3.3
–3.1
279.3
–5.5
–10.8
7.2
–37.8 .............. ............. ..............
13,117.6
13,630.2
13,556.4
13,191.5
641.5
465.6
13,367.7
11,429.4

–275.3
–495.8
–423.2
–348.2
–190.4
–164.7
–374.0
–377.0

34.4
129.4
44.4
119.8
23.8
0.9
142.9
113.6

32.1
162.6
142.1
52.7
13.7
11.6
54.7
44.6

r Revised
NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component’s
relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2.
See “Explanatory Note” at the end of the tables.

Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
Seasonally adjusted at annual rates
2007

2008

2009

2006
III

2007
IV

I

II

2008
III

IV

I

II

2009
III

IV

I

II

2010
III

IV

I

II r

Gross domestic product (GDP) .......
2.9
2.2
0.9
3.1
1.8
4.4
3.2
2.0
0.9
1.9
3.2
4.5
–1.2
1.1
0.3
0.7
–0.2
1.0
1.9
Personal consumption expenditures .........
2.7
3.3
0.2
3.0
–0.1
4.0
3.5
2.3
4.2
3.9
4.6
4.4
–5.8
–1.6
1.9
2.9
2.7
2.1
0.0
Goods.........................................................
1.4
3.2
–2.5
2.2
–5.8
3.2
4.7
0.8
5.4
5.1
4.9
7.2 –17.7
–6.0
3.7
5.7
2.8
2.6
–3.6
Durable goods ........................................
–1.8
–1.4
–1.6
–1.9
–2.0
–1.8
–1.4
–2.1
–1.4
–0.7
–2.0
–0.7
–3.4
–2.1
0.1
–2.5
0.7
–2.0
–1.6
Nondurable goods ..................................
3.2
5.6
–2.9
4.5
–7.7
6.1
8.1
2.3
9.1
8.1
8.3
11.0 –23.5
–7.9
5.4
9.7
3.8
4.7
–4.6
Services......................................................
3.4
3.4
1.5
3.3
3.1
4.4
2.9
3.1
3.7
3.3
4.5
3.0
0.7
0.5
1.1
1.7
2.7
1.8
1.8
Gross private domestic investment............
1.8
0.7
–2.0
2.5
3.8
2.1
0.1
–0.2
0.4
–0.2
1.0
1.9
4.8
–4.1
–6.7
–6.0
–0.7
–2.0
–0.5
Fixed investment.........................................
1.8
0.8
–1.7
2.4
3.7
2.1
0.2
–0.2
0.2
0.0
1.3
2.8
2.2
–3.0
–5.7
–4.8
–1.0
–1.4
–0.6
Nonresidential.........................................
1.9
1.4
–1.2
3.0
3.9
2.0
0.7
–0.3
0.2
0.6
2.1
4.5
4.3
–3.1
–5.7
–5.1
–2.4
–1.9
0.2
Structures............................................
6.1
4.7
–2.6
8.0
11.5
5.0
1.8
3.3
4.8
3.5
4.9
8.1
8.1
–5.6 –12.2 –10.5
–2.1
0.9
2.6
Equipment and software .....................
0.1
–0.2
–0.5
1.0
0.7
0.7
0.3
–2.0
–2.1
–0.9
0.8
2.6
2.2
–1.6
–2.0
–2.4
–2.5
–3.1
–0.7
Residential ..............................................
1.4
–1.2
–3.4
1.3
3.4
2.2
–1.2
0.1
0.7
–1.4
–1.1
–2.8
–5.2
–2.9
–6.0
–3.3
4.3
0.6
–3.4
Change in private inventories ..................... ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ...........
Net exports of goods and services ............ ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ...........
Exports .......................................................
3.3
4.7
–5.4
5.0
0.2
3.4
4.4
2.6
5.8
7.8
10.6
5.7 –22.3 –11.5
0.7
4.6
4.6
5.1
4.8
Goods .....................................................
3.4
4.8
–6.8
5.5
0.9
2.7
4.5
2.2
6.1
8.6
13.2
5.4 –27.5 –13.8
2.7
4.8
4.6
5.8
5.2
Services..................................................
3.3
4.2
–2.2
3.9
–1.6
5.1
4.2
3.7
5.1
5.8
4.8
6.4
–9.0
–6.6
–3.2
4.0
4.7
3.7
3.8
Imports .......................................................
3.3
10.4 –10.7
3.1
–4.6
3.9
4.0
2.8
24.3
19.4
16.6
2.2 –32.1 –27.3
2.3
8.6
21.8
12.4
–7.6
Goods .....................................................
3.1
11.3 –12.3
3.2
–5.4
4.1
3.5
2.1
28.0
22.0
17.3
1.7 –34.6 –30.7
2.0
9.2
24.8
14.6
–9.5
Services..................................................
3.8
5.7
–2.8
2.7
–0.2
2.8
6.8
6.6
5.9
6.2
13.4
4.8 –17.2 –10.2
3.8
6.2
9.2
2.5
2.0
Government consumption expenditures
and gross investment...............................
4.8
4.7
–0.3
3.1
2.4
8.4
4.6
2.9
4.7
7.3
6.5
3.9
–5.2
–1.7
0.6
0.4
1.5
4.6
0.8
Federal .......................................................
3.5
3.1
–0.2
1.2
0.5
8.7
3.5
0.4
2.3
6.5
4.7
1.6
–4.2
0.7
–0.8
–0.1
1.5
4.5
0.9
National defense.....................................
3.7
3.6
–0.7
1.5
0.3
8.4
4.1
0.9
3.1
6.4
6.3
2.0
–5.9
0.1
–1.8
0.3
1.6
5.3
1.2
Nondefense ............................................
3.2
2.2
0.8
0.7
0.9
9.3
2.3
–0.6
0.8
6.6
1.6
0.6
–0.4
2.2
1.1
–1.0
1.5
2.8
0.2
State and local............................................
5.5
5.6
–0.4
4.2
3.4
8.3
5.3
4.4
6.2
7.7
7.5
5.3
–5.8
–3.2
1.5
0.8
1.5
4.6
0.8
Addenda:
Final sales of domestic product..................
2.9
2.2
1.0
3.1
1.8
4.4
3.2
2.0
0.8
2.0
3.2
4.6
–1.5
1.3
0.4
0.8
–0.3
1.0
1.9
Gross domestic purchases.........................
2.9
3.2
–0.2
2.9
1.0
4.4
3.2
2.0
3.8
4.0
4.5
3.9
–4.4
–2.0
0.6
1.4
2.1
2.1
0.1
Final sales to domestic purchasers ............
3.0
3.2
–0.2
2.9
1.0
4.5
3.2
2.0
3.7
4.0
4.5
4.1
–4.6
–1.9
0.7
1.5
2.0
2.2
0.1
Gross national product (GNP) ....................
2.9
2.2
0.9
3.1
1.8
4.4
3.1
2.0
0.9
2.0
3.2
4.5
–1.3
1.1
0.3
0.8
–0.2
1.0
1.9
Implicit price deflators:
GDP ........................................................
2.9
2.2
0.9
3.1
1.8
4.4
3.2
2.0
0.9
1.8
3.4
4.5
–1.2
1.0
0.3
0.7
–0.3
1.1
2.0
Gross domestic purchases .....................
2.9
3.2
–0.2
2.9
0.9
4.4
3.1
2.1
3.8
3.8
4.7
4.0
–4.3
–2.2
0.5
1.3
2.0
2.2
0.1
GNP ........................................................
2.9
2.2
0.9
3.1
1.8
4.4
3.1
2.0
0.9
1.8
3.4
4.5
–1.2
1.0
0.3
0.7
–0.3
1.0
1.9
r Revised
See “Explanatory Note” at the end of the tables.

Table 5. Real Gross Domestic Product, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
2007

2008

2009

2009
II

III

2010
IV

II r

I

Gross domestic product......................................................
104.672
104.672
101.917
101.358
101.760
103.012
103.960
104.376
Personal consumption expenditures ................................................
105.335
105.057
103.797
103.379
103.885
104.126
104.608
105.117
Goods................................................................................................
106.105
103.462
101.416
100.328
102.092
102.533
103.952
104.867
Durable goods ...............................................................................
108.418
102.798
99.011
96.629
101.159
100.870
103.025
104.749
Nondurable goods .........................................................................
104.872
103.698
102.487
102.025
102.460
103.247
104.321
104.861
Services.............................................................................................
104.929
105.870
105.006
104.919
104.797
104.936
104.952
105.260
Gross private domestic investment...................................................
99.509
90.105
69.778
66.901
68.800
73.000
77.811
82.268
Fixed investment................................................................................
100.490
94.096
76.835
76.316
76.447
76.198
76.826
80.322
Nonresidential................................................................................
115.193
115.532
95.804
95.618
95.216
94.879
96.677
100.679
Structures...................................................................................
124.578
131.976
105.064
107.399
103.911
95.310
90.761
90.861
Equipment and software ............................................................
111.389
108.681
92.035
90.786
91.716
94.895
99.408
105.100
Residential .....................................................................................
75.380
57.324
44.220
43.089
44.185
44.092
42.670
45.312
Change in private inventories ............................................................ ......................... .......................... ......................... ......................... ......................... .......................... ......................... .........................
Exports of goods and services..........................................................
119.106
126.255
114.228
110.941
114.174
120.569
123.858
126.597
Imports of goods and services ..........................................................
108.951
106.113
91.418
88.266
92.752
93.874
96.401
103.414
Government consumption expenditures and gross investment ....
102.713
105.605
107.287
107.569
107.991
107.613
107.185
108.308
Federal ..............................................................................................
103.399
110.900
117.266
117.447
119.085
119.091
119.634
122.258
State and local...................................................................................
102.311
102.611
101.688
102.024
101.770
101.179
100.213
100.501
Addenda:
Final sales of domestic product.........................................................
104.858
105.399
103.212
103.042
103.146
103.676
103.948
104.204
Gross domestic purchases................................................................
103.913
102.756
99.045
98.373
99.092
99.829
100.797
102.014
Final sales to domestic purchasers ...................................................
104.086
103.433
100.254
99.948
100.386
100.441
100.775
101.843
Gross national product ......................................................................
104.781
105.129
102.192
101.523
102.185
103.413
104.534
104.964
r Revised
See “Explanatory Note” at the end of the tables.

Table 6. Price Indexes for Gross Domestic Product
[Index numbers, 2005=100]
Seasonally adjusted
2007

2008

2009

2009
II

III

2010
IV

I

II r

Gross domestic product......................................................
106.301
108.598
109.618
109.555
109.759
109.693
109.959
110.481
Personal consumption expenditures (PCE)......................................
105.564
109.061
109.258
108.810
109.598
110.333
110.901
110.890
Goods................................................................................................
102.946
106.262
103.634
102.974
104.403
105.120
105.784
104.809
Durable goods ...............................................................................
96.736
95.340
93.782
94.046
93.450
93.603
93.121
92.755
Nondurable goods .........................................................................
106.487
112.484
109.262
108.097
110.624
111.651
112.949
111.632
Services.............................................................................................
106.973
110.566
112.233
111.894
112.355
113.102
113.620
114.121
Gross private domestic investment...................................................
106.211
106.977
104.873
105.259
103.656
103.466
102.952
102.817
Fixed investment................................................................................
106.256
107.053
105.260
105.575
104.294
104.030
103.661
103.517
Nonresidential................................................................................
105.505
106.984
105.700
106.162
104.768
104.144
103.639
103.687
Structures...................................................................................
119.780
125.460
122.187
123.006
119.654
119.017
119.291
120.061
Equipment and software ............................................................
100.326
100.083
99.620
99.953
99.344
98.721
97.954
97.777
Residential .....................................................................................
107.613
106.361
102.736
102.503
101.637
102.712
102.869
101.974
Change in private inventories ............................................................ ......................... .......................... ......................... ......................... ......................... ......................... .......................... ..........................
Exports of goods and services..........................................................
106.902
111.874
105.877
105.031
106.212
107.424
108.771
110.043
Imports of goods and services ..........................................................
107.531
118.685
105.987
103.719
105.879
111.222
114.514
112.280
Government consumption expenditures and gross investment ....
109.863
115.009
114.644
114.516
114.635
115.067
116.358
116.592
Federal ..............................................................................................
107.753
111.119
110.895
110.743
110.716
111.141
112.375
112.614
State and local...................................................................................
111.112
117.349
116.892
116.779
116.998
117.434
118.760
118.990
Addenda:
PCE excluding food and energy 1 ......................................................
104.696
107.151
108.774
108.583
108.990
109.551
109.887
110.175
Market-based PCE 2..........................................................................
105.405
109.016
109.372
108.951
109.752
110.356
110.824
110.772
2
Market-based PCE excluding food and energy ...............................
104.365
106.778
108.826
108.708
109.066
109.445
109.626
109.915
Final sales of domestic product.........................................................
106.308
108.608
109.647
109.579
109.809
109.736
110.020
110.544
Gross domestic purchases................................................................
106.428
109.813
109.614
109.326
109.702
110.265
110.838
110.858
Final sales to domestic purchasers ...................................................
106.435
109.823
109.649
109.357
109.757
110.309
110.900
110.919
Gross national product ......................................................................
106.304
108.605
109.612
109.547
109.753
109.691
109.957
110.474
Implicit price deflators:
Gross domestic product.................................................................
106.296
108.619
109.615
109.558
109.750
109.665
109.952
110.488
Final sales of domestic product .....................................................
106.308
108.608
109.647
109.579
109.808
109.734
110.018
110.542
Gross domestic purchases ............................................................
106.424
109.834
109.611
109.327
109.693
110.238
110.831
110.863
Final sales to domestic purchasers ...............................................
106.435
109.823
109.649
109.357
109.756
110.308
110.899
110.918
Gross national product...................................................................
106.300
108.626
109.609
109.550
109.744
109.664
109.950
110.480
r Revised
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households. Percentage changes for these series are included in the addenda to table 8 and appendix table A.
See “Explanatory Note” at the end of the tables.

Table 7. Real Gross Domestic Product: Percent Change From Preceding Year
1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Gross domestic product (GDP) ..............................................
4.1
2.5
3.7
4.5
4.4
4.8
4.1
1.1
1.8
2.5
3.6
3.1
2.7
1.9
0.0
–2.6
Personal consumption expenditures ................................................
3.8
2.7
3.5
3.7
5.2
5.5
5.1
2.7
2.7
2.8
3.5
3.4
2.9
2.4
–0.3
–1.2
Goods................................................................................................
5.3
3.0
4.5
4.8
6.8
8.0
5.3
3.1
4.1
4.6
4.4
4.0
3.3
2.8
–2.5
–2.0
Durable goods ...............................................................................
8.0
3.9
7.5
8.2
12.2
13.0
8.8
5.4
7.6
6.0
6.6
5.2
4.1
4.2
–5.2
–3.7
Nondurable goods .........................................................................
3.9
2.5
2.9
2.9
3.8
5.1
3.2
1.8
2.0
3.7
3.2
3.4
2.8
2.0
–1.1
–1.2
Services.............................................................................................
3.0
2.5
2.9
3.1
4.4
4.1
5.0
2.5
1.9
1.9
2.9
3.0
2.7
2.2
0.9
–0.8
Gross private domestic investment...................................................
13.6
3.1
8.8
12.4
10.0
8.8
6.8
–7.0
–1.4
3.6
10.0
5.5
2.7
–3.1
–9.5 –22.6
Fixed investment................................................................................
9.4
6.4
9.0
9.2
10.9
9.3
7.4
–1.9
–4.2
3.2
7.3
6.5
2.3
–1.8
–6.4 –18.3
Nonresidential................................................................................
9.2
10.5
9.3
12.1
12.0
10.4
9.8
–2.8
–7.9
0.9
6.0
6.7
7.9
6.7
0.3 –17.1
Structures...................................................................................
1.8
6.4
5.7
7.3
5.1
0.1
7.8
–1.5 –17.7
–3.8
1.1
1.4
9.2
14.1
5.9 –20.4
Equipment and software ............................................................
11.9
12.0
10.6
13.8
14.5
14.1
10.5
–3.2
–4.2
2.5
7.7
8.5
7.4
3.7
–2.4 –15.3
Residential .....................................................................................
9.7
–3.3
8.0
1.9
7.7
6.3
1.0
0.6
5.2
8.2
9.8
6.2
–7.3 –18.7 –24.0 –22.9
Change in private inventories ............................................................ ........... ........... ........... ........... ........... ............ ........... ........... ........... ........... ........... ........... ........... ............ ............ ...........
Net exports of goods and services ................................................... ........... ........... ........... ........... ........... ............ ........... ........... ........... ........... ........... ........... ........... ............ ............ ...........
Exports ..............................................................................................
8.7
10.1
8.3
11.9
2.3
4.4
8.6
–5.6
–2.0
1.6
9.5
6.7
9.0
9.3
6.0
–9.5
Goods ............................................................................................
9.7
11.7
8.8
14.4
2.2
3.8
11.1
–6.2
–3.6
1.8
8.5
7.5
9.4
9.8
6.3 –12.0
Services.........................................................................................
6.4
6.3
7.0
5.9
2.4
5.7
2.7
–4.1
1.9
1.2
11.9
5.0
7.9
8.3
5.3
–3.9
Imports ..............................................................................................
11.9
8.0
8.7
13.5
11.7
11.5
13.0
–2.8
3.4
4.4
11.0
6.1
6.1
2.7
–2.6 –13.8
Goods ............................................................................................
13.4
9.0
9.4
14.4
11.8
12.5
13.4
–3.2
3.7
4.9
11.0
6.8
5.9
2.9
–3.5 –15.8
Services.........................................................................................
5.3
3.0
5.2
8.7
10.9
6.8
11.0
–0.8
1.8
1.9
11.2
2.8
7.1
1.4
2.4
–4.2
Government consumption expenditures and gross investment ....
0.0
0.6
1.0
1.9
2.1
3.6
2.0
3.8
4.7
2.2
1.4
0.3
1.4
1.3
2.8
1.6
Federal ..............................................................................................
–3.8
–2.7
–1.2
–1.0
–1.1
1.9
0.5
4.1
7.3
6.6
4.1
1.3
2.1
1.2
7.3
5.7
National defense............................................................................
–4.9
–3.7
–1.3
–2.8
–2.1
1.9
–0.5
3.8
7.4
8.7
5.7
1.5
1.6
2.2
7.5
5.4
Nondefense ...................................................................................
–1.4
–0.4
–0.8
2.7
0.8
2.1
2.4
4.6
7.2
2.8
1.0
0.9
3.2
–0.8
6.7
6.5
State and local...................................................................................
2.6
2.7
2.3
3.6
3.9
4.5
2.8
3.7
3.3
–0.1
–0.2
–0.2
0.9
1.4
0.3
–0.9
Addenda:
Final sales of domestic product.........................................................
3.5
3.0
3.7
3.9
4.4
4.9
4.2
2.0
1.3
2.4
3.2
3.2
2.6
2.2
0.5
–2.1
Gross domestic purchases................................................................
4.5
2.4
3.8
4.7
5.5
5.7
4.8
1.2
2.4
2.8
4.0
3.2
2.6
1.3
–1.1
–3.6
Final sales to domestic purchasers ...................................................
3.8
2.8
3.8
4.2
5.6
5.8
4.9
2.1
1.9
2.8
3.6
3.3
2.5
1.5
–0.6
–3.1
Gross national product ......................................................................
3.9
2.6
3.7
4.3
4.3
4.9
4.2
1.2
1.8
2.6
3.7
3.1
2.4
2.3
0.3
–2.8
Real disposable personal income......................................................
3.2
3.0
3.3
3.5
6.0
3.0
5.1
2.4
3.3
2.5
3.4
1.3
4.0
2.3
1.7
0.6
Price indexes:
Gross domestic purchases ............................................................
2.1
2.1
1.8
1.5
0.7
1.6
2.5
1.9
1.4
2.3
3.0
3.7
3.4
2.9
3.2
–0.2
Gross domestic purchases excluding food and energy 1 ...............
2.2
2.2
1.6
1.5
1.0
1.5
2.0
1.8
1.7
2.0
2.7
3.3
3.2
2.7
2.6
0.7
GDP ...............................................................................................
2.1
2.1
1.9
1.8
1.1
1.5
2.2
2.3
1.6
2.2
2.8
3.3
3.3
2.9
2.2
0.9
1
GDP excluding food and energy ..................................................
2.1
2.1
1.8
1.8
1.2
1.6
2.2
2.0
1.8
2.1
2.8
3.5
3.3
2.8
2.3
0.8
Personal consumption expenditures..............................................
2.1
2.2
2.2
1.9
1.0
1.6
2.5
1.9
1.4
2.0
2.6
3.0
2.7
2.7
3.3
0.2
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.

Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
2006
III

2007
IV

I

II

2008
III

IV

I

II

2009
III

IV

I

II

2010
III

IV

Ir

II r

Gross domestic product (GDP) ..............................................
2.2
2.4
1.3
1.8
2.3
2.3
1.9
1.2
–0.3
–2.8
–3.8
–4.1
–2.7
0.2
2.4
3.0
Personal consumption expenditures (PCE)......................................
2.5
3.3
2.8
2.6
2.4
1.7
1.0
0.6
–0.7
–1.9
–1.8
–2.2
–0.9
0.2
0.8
1.7
Goods................................................................................................
2.5
4.3
3.0
3.2
3.0
1.8
–0.3
–0.5
–3.1
–6.1
–4.2
–4.7
–1.0
2.3
3.2
4.5
Durable goods ...............................................................................
2.3
6.3
3.4
4.8
4.6
3.9
–0.2
–2.0
–6.0 –12.3
–8.7
–8.7
–1.3
4.8
5.8
8.4
Nondurable goods .........................................................................
2.7
3.2
2.8
2.4
2.1
0.8
–0.3
0.3
–1.6
–2.9
–2.1
–2.7
–0.9
1.1
2.1
2.8
Services.............................................................................................
2.6
2.8
2.6
2.3
2.1
1.7
1.6
1.2
0.5
0.3
–0.6
–1.0
–0.8
–0.8
–0.4
0.3
Gross private domestic investment...................................................
3.5
–3.0
–5.2
–2.9
–2.3
–1.8
–3.3
–7.3
–9.7 –17.5 –26.3 –28.5 –24.0
–9.6
10.5
23.0
Fixed investment................................................................................
0.9
–0.8
–3.3
–1.9
–1.0
–0.8
–2.2
–4.2
–6.9 –12.3 –20.1 –21.3 –18.6 –12.9
–2.0
5.2
Nonresidential................................................................................
7.8
7.8
5.2
6.1
7.4
8.2
7.0
3.8
–0.8
–8.3 –18.1 –19.3 –17.8 –12.7
–0.8
5.3
Structures...................................................................................
13.2
13.0
11.0
12.2
15.6
17.3
14.3
9.4
2.7
–1.5 –13.6 –19.8 –21.7 –26.5 –20.1 –15.4
Equipment and software ............................................................
5.9
6.0
3.0
3.6
3.8
4.3
3.8
1.1
–2.6 –11.8 –20.3 –19.1 –15.8
–4.9
9.5
15.8
Residential ..................................................................................... –11.0 –15.7 –18.6 –17.4 –18.2 –20.7 –23.6 –24.0 –23.7 –24.6 –26.9 –28.1 –21.4 –13.4
–6.3
5.2
Change in private inventories ............................................................ ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ........... ............ ........... ........... ........... ...........
Net exports of goods and services ................................................... ........... ........... ........... ............ ............ ........... ........... ........... ........... ........... ........... ............ ........... ........... ........... ...........
Exports ..............................................................................................
8.5
10.2
7.7
7.7
11.6
10.1
9.9
11.5
6.1
–2.9 –11.7 –14.7 –11.0
–0.1
11.4
14.1
Goods ............................................................................................
9.1
9.4
8.3
8.3
11.6
10.8
10.0
11.7
7.2
–3.1 –14.7 –18.3 –13.8
–0.2
14.4
18.9
Services.........................................................................................
6.9
12.0
6.5
6.4
11.6
8.6
9.8
11.1
3.7
–2.5
–5.0
–6.2
–4.6
0.3
5.1
4.6
Imports ..............................................................................................
7.2
4.1
3.4
3.4
3.4
0.7
–0.8
–1.2
–2.4
–6.0 –15.3 –18.3 –14.1
–7.2
6.2
17.2
Goods ............................................................................................
7.2
3.6
3.7
3.6
3.5
0.9
–1.6
–1.6
–3.1
–8.0 –18.0 –21.1 –16.0
–7.3
7.9
20.5
Services.........................................................................................
7.0
7.1
1.5
2.0
2.7
–0.7
3.3
0.8
0.9
4.8
–2.1
–3.4
–4.3
–7.0
–0.8
3.2
Government consumption expenditures and gross investment ....
0.8
1.5
0.4
1.2
1.9
1.9
2.6
2.6
3.0
3.1
1.7
2.4
1.5
0.8
1.1
0.7
Federal ..............................................................................................
0.2
2.2
–1.9
0.7
3.1
3.1
6.1
6.3
7.4
9.2
6.0
7.7
5.7
3.6
5.5
4.1
National defense............................................................................
–1.6
4.4
0.0
1.7
4.7
2.6
6.3
5.9
8.2
9.5
5.4
7.7
5.2
3.3
5.6
3.4
Nondefense ...................................................................................
3.9
–2.3
–5.5
–1.4
–0.1
4.2
5.8
7.0
5.7
8.5
7.4
7.7
6.7
4.5
5.1
5.5
State and local...................................................................................
1.2
1.2
1.8
1.4
1.2
1.2
0.6
0.5
0.5
–0.4
–0.8
–0.7
–1.1
–1.0
–1.5
–1.5
Addenda:
Final sales of domestic product.........................................................
1.8
2.8
1.7
2.0
2.6
2.5
2.1
1.8
0.1
–1.9
–2.9
–3.1
–2.0
–0.3
0.9
1.1
Gross domestic purchases................................................................
2.4
1.9
1.0
1.4
1.6
1.2
0.6
–0.3
–1.4
–3.3
–4.7
–5.1
–3.6
–0.9
1.9
3.7
Final sales to domestic purchasers ...................................................
2.0
2.3
1.4
1.6
1.8
1.4
0.8
0.2
–1.0
–2.5
–3.8
–4.1
–2.9
–1.4
0.5
1.9
Gross national product ......................................................................
1.8
2.4
1.2
1.8
2.9
3.2
2.7
1.9
0.0
–3.2
–4.2
–4.4
–2.9
0.5
2.8
3.4
Real disposable personal income......................................................
3.8
4.6
3.1
2.4
2.3
1.5
1.4
3.5
0.9
1.0
0.8
0.0
1.1
0.4
0.7
0.3
Price indexes:
Gross domestic purchases ............................................................
3.4
2.6
3.0
2.9
2.6
3.3
3.2
3.6
4.0
1.9
0.4
–0.5
–1.1
0.5
1.5
1.4
Gross domestic purchases excluding food and energy 1 ...............
3.2
2.9
3.1
2.7
2.5
2.6
2.4
2.7
2.9
2.1
1.3
0.7
0.2
0.6
1.1
1.1
GDP ...............................................................................................
3.3
2.9
3.2
3.1
2.8
2.6
2.0
2.0
2.6
2.1
1.9
1.2
0.2
0.5
0.5
0.8
1
GDP excluding food and energy ..................................................
3.3
3.0
3.2
2.8
2.6
2.6
2.3
2.4
2.7
1.9
1.2
0.8
0.3
0.8
1.1
1.2
PCE ...............................................................................................
2.8
1.9
2.5
2.6
2.4
3.5
3.5
3.8
4.3
1.7
0.3
–0.3
–0.7
1.5
2.4
1.9
PCE excluding food and energy 1 ..................................................
2.5
2.3
2.5
2.2
2.2
2.4
2.3
2.5
2.5
2.0
1.6
1.5
1.3
1.7
1.8
1.5
Market-based PCE 2 ......................................................................
2.9
1.8
2.3
2.4
2.1
3.5
3.6
3.8
4.6
1.8
0.5
–0.1
–0.6
1.5
2.2
1.7
2
Market-based PCE excluding food and energy ...........................
2.5
2.2
2.3
2.0
1.9
2.2
2.2
2.3
2.6
2.2
2.1
2.1
1.8
1.7
1.4
1.1
r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2010.
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households.

Table 9. Relation of Gross Domestic Product, Gross National Product, and National Income
[Billions of dollars]
Seasonally adjusted at annual rates
2007

2008

2009

2009
II

Gross domestic product................................................................................................
Plus: Income receipts from the rest of the world ..............................................................
Less: Income payments to the rest of the world...............................................................
Equals: Gross national product....................................................................................
Less: Consumption of fixed capital...................................................................................
Less: Statistical discrepancy ............................................................................................
Equals: National income................................................................................................
Compensation of employees ........................................................................................
Wage and salary accruals ........................................................................................
Supplements to wages and salaries .........................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments ....
Rental income of persons with capital consumption adjustment..................................
Corporate profits with inventory valuation and capital consumption adjustments ........
Net interest and miscellaneous payments....................................................................
Taxes on production and imports less subsidies ..........................................................
Business current transfer payments (net).....................................................................
Current surplus of government enterprises..................................................................
Addendum:
Gross domestic income ................................................................................................

2010

III

IV

Ir

II r

14,061.8
871.0
747.7
14,185.1
1,767.5
21.1
12,396.4
7,855.9
6,415.5
1,440.4
1,090.4
143.7
1,510.6
731.6
972.6
103.3
–11.8

14,369.1
839.2
664.7
14,543.6
1,849.2
136.6
12,557.8
8,060.8
6,554.0
1,506.8
1,102.0
222.0
1,262.8
812.8
992.3
121.7
–16.7

14,119.0
629.8
483.6
14,265.3
1,861.1
179.1
12,225.0
7,811.7
6,279.1
1,532.6
1,011.9
274.0
1,258.0
784.3
964.4
134.0
–13.2

14,034.5
611.7
482.0
14,164.2
1,862.3
172.2
12,129.7
7,819.0
6,287.7
1,531.4
1,000.5
269.4
1,178.0
773.4
961.6
141.8
–14.2

14,114.7
627.4
460.1
14,281.9
1,848.3
228.9
12,204.8
7,798.7
6,263.9
1,534.8
1,006.4
279.1
1,297.5
750.7
959.2
124.9
–11.7

14,277.3
664.7
499.1
14,442.8
1,852.2
175.2
12,415.5
7,831.4
6,284.9
1,546.5
1,022.1
282.8
1,418.2
765.6
976.8
129.8
–11.3

14,446.4
693.7
502.6
14,637.6
1,852.4
164.2
12,621.0
7,858.1
6,291.4
1,566.7
1,030.7
292.7
1,566.6
765.9
988.5
130.5
–12.1

14,575.0
709.2
515.5
14,768.6
1,860.7
141.1
12,766.8
7,918.6
6,340.9
1,577.7
1,048.4
300.7
1,639.3
743.3
998.6
131.1
–13.1

14,040.7

14,232.5

13,939.9

13,862.3

13,885.8

14,102.1

14,282.2

14,433.8

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2010.

Table 10. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
2007

2008

2009

2009
II

Personal income 1 .........................................................................................................
Compensation of employees, received........................................................................
Wage and salary disbursements..............................................................................
Supplements to wages and salaries ........................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments ...
Farm ........................................................................................................................
Nonfarm ...................................................................................................................
Rental income of persons with capital consumption adjustment.................................
Personal income receipts on assets ............................................................................
Personal interest income .........................................................................................
Personal dividend income........................................................................................
Personal current transfer receipts................................................................................
Less: Contributions for government social insurance, domestic..................................
Less: Personal current taxes ...........................................................................................
Equals: Disposable personal income..........................................................................
Less: Personal outlays ....................................................................................................
Equals: Personal saving ...............................................................................................
Personal saving as a percentage of disposable personal income ...............................
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005)
dollars 2....................................................................................................................
Disposable personal income, billions of chained (2005) dollars 2 ...............................

2010

III

IV

I

r

II r

11,912.3
7,862.2
6,421.7
1,440.4
1,090.4
37.8
1,052.6
143.7
2,057.0
1,265.1
791.9
1,718.5
959.5
1,488.7
10,423.6
10,208.9
214.7
2.1

12,391.1
8,065.8
6,559.0
1,506.8
1,102.0
50.8
1,051.2
222.0
2,109.3
1,314.7
794.6
1,879.2
987.2
1,438.2
10,952.9
10,505.0
447.9
4.1

12,174.9
7,806.7
6,274.1
1,532.6
1,011.9
30.5
981.5
274.0
1,919.7
1,222.3
697.4
2,132.8
970.3
1,140.0
11,034.9
10,379.6
655.3
5.9

12,203.4
7,819.0
6,287.7
1,531.4
1,000.5
28.0
972.5
269.4
1,925.9
1,229.5
696.4
2,160.2
971.6
1,112.5
11,090.9
10,297.4
793.5
7.2

12,164.0
7,798.7
6,263.9
1,534.8
1,006.4
28.0
978.4
279.1
1,891.1
1,213.3
677.8
2,159.3
970.6
1,117.0
11,047.0
10,423.6
623.4
5.6

12,239.0
7,831.4
6,284.9
1,546.5
1,022.1
36.2
985.9
282.8
1,889.2
1,205.8
683.4
2,188.2
974.8
1,117.2
11,121.7
10,505.7
616.0
5.5

12,350.3
7,858.1
6,291.4
1,566.7
1,030.7
36.8
994.0
292.7
1,911.1
1,208.7
702.4
2,245.5
987.8
1,134.7
11,215.6
10,603.9
611.8
5.5

12,471.2
7,918.6
6,340.9
1,577.7
1,048.4
35.7
1,012.7
300.7
1,909.2
1,204.1
705.1
2,289.7
995.3
1,136.2
11,335.1
10,648.1
686.9
6.1

9,656.5
9,874.2

9,638.5
10,042.9

9,191.1
10,099.8

9,230.2
10,193.0

9,128.7
10,079.7

9,109.7
10,080.4

9,111.7
10,113.3

9,181.8
10,222.1

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2010.
1. Personal income is also equal to national income less corporate profits with inventory valuation and capital consumption adjustments, taxes on production and imports less subsidies, contributions for government social insurance, net interest and miscellaneous payments, business current transfer payments, current surplus of government enterprises, and wage accruals less disbursements, plus personal income receipts
on assets, and personal current transfer receipts.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.

Table 11. Corporate Profits: Level and Percent Change
Billions of dollars

Percent change from preceding period

Seasonally adjusted at annual rates
2007

2008

2009

2008
2009

Corporate profits with inventory valuation and
capital consumption adjustments ..........................
Less: Taxes on corporate income...................................
Equals: Profits after tax with inventory valuation
and capital consumption adjustments ...................
Net dividends..............................................................
Undistributed profits with inventory valuation and
capital consumption adjustments............................
Addenda for corporate cash flow:
Net cash flow with inventory valuation adjustment
Undistributed profits with inventory valuation and
capital consumption adjustments........................
Consumption of fixed capital...................................
Less: Capital transfers paid (net) ............................
Addenda:
Profits before tax (without inventory valuation and
capital consumption adjustments) ..........................
Profits after tax (without inventory valuation and
capital consumption adjustments) ..........................
Inventory valuation adjustment...................................
Capital consumption adjustment ................................

Quarter
one year
ago

Quarterly rates
2009

2010

2009

II

III

IV

I

II

2010

III

IV

2010

I

II

II

1,510.6
445.5

1,262.8
308.4

1,258.0
254.9

1,178.0
222.8

1,297.5
255.7

1,418.2
319.1

1,566.6
403.2

1,639.3
442.2

–16.4
–30.8

–0.4
–17.3

10.1
14.8

9.3
24.8

10.5
26.4

4.6
9.7

39.2
98.5

1,065.2
794.5

954.4
797.7

1,003.1
718.9

955.3
719.7

1,041.8
699.6

1,099.2
708.5

1,163.3
720.3

1,197.1
724.8

–10.4
0.4

5.1
–9.9

9.1
–2.8

5.5
1.3

5.8
1.7

2.9
0.6

25.3
0.7

270.7

156.7

284.2

235.5

342.2

390.6

443.0

472.2

–42.1

81.3

45.3

14.2

13.4

6.6

100.5

1,244.1

1,239.4

1,427.9

1,394.1

1,405.6

1,484.0

1,517.3

1,571.0

–0.4

15.2

0.8

5.6

2.2

3.5

12.7

270.7
973.4
0.0

156.7
1,018.5
–64.1

284.2
1,019.8
–123.9

235.5
1,021.2
–137.3

342.2
1,010.6
–52.8

390.6
1,010.8
–82.6

443.0
1,008.0
–66.3

472.2
–42.1
81.3
45.3
14.2
13.4
6.6
100.5
1,014.2
4.6
0.1
–1.0
0.0
–0.3
0.6
–0.7
–84.6 ............. .............. .............. .............. .............. ............. ..............

1,738.4

1,333.2

1,316.7

1,219.2

1,369.2

1,548.4

1,772.9

1,813.9

1,292.9
–47.2
–180.5

1,024.8
–44.1
–26.3

1,061.8
11.9
–70.6

996.5
30.6
–71.8

1,113.5
–8.7
–63.0

1,229.3
–67.2
–63.0

1,369.7
–36.4
–169.9

1,371.7
–20.7
3.6
11.7
10.4
11.4
0.1
37.7
–3.5 ............. .............. .............. .............. .............. ............. ..............
–171.1 ............. .............. .............. .............. .............. ............. ..............

–23.3

–1.2

12.3

13.1

14.5

2.3

48.8

Table 12. Corporate Profits by Industry: Level and Change From Preceding Period
[Billions of dollars]
Level

Change from preceding period

Seasonally adjusted at annual rates
2009
2007

2008

2009

2009
II

Corporate profits with inventory valuation and
capital consumption adjustments...................
Domestic industries.....................................................
Financial .....................................................................
Nonfinancial................................................................
Rest of the world ..........................................................
Receipts from the rest of the world.............................
Less: Payments to the rest of the world......................
Corporate profits with inventory valuation
adjustment.........................................................
Domestic industries.....................................................
Financial .....................................................................
Federal Reserve banks...........................................
Other financial.........................................................
Nonfinancial................................................................
Utilities ....................................................................
Manufacturing .........................................................
Durable goods.....................................................
Fabricated metal products...............................
Machinery .......................................................
Computer and electronic products ..................
Electrical equipment, appliances, and
components.................................................
Motor vehicles, bodies and trailers, and parts
Other durable goods........................................
Nondurable goods...............................................
Food and beverage and tobacco products ......
Petroleum and coal products...........................
Chemical products ..........................................
Other nondurable goods..................................
Wholesale trade......................................................
Retail trade .............................................................
Transportation and warehousing.............................
Information..............................................................
Other nonfinancial...................................................
Rest of the world ..........................................................

III

2010
IV

I

2008

2010

2009

II

III

IV

I

II

1,510.6
1,159.8
323.8
835.9
350.9
510.6
159.7

1,262.8
851.5
128.0
723.5
411.3
571.8
160.5

1,258.0
905.7
242.4
663.3
352.3
480.6
128.3

1,178.0
844.8
227.4
617.4
333.2
457.7
124.4

1,297.5
933.2
286.1
647.1
364.2
487.8
123.6

1,418.2
1,055.7
332.4
723.2
362.6
529.1
166.5

1,566.6
1,178.1
337.6
840.4
388.5
561.4
172.9

1,639.3
1,245.5
337.2
908.3
393.8
571.4
177.7

–247.8
–308.3
–195.8
–112.4
60.4
61.2
0.8

–4.8
54.2
114.4
–60.2
–59.0
–91.2
–32.2

119.5
88.4
58.7
29.7
31.0
30.1
–0.8

120.7
122.5
46.3
76.1
–1.6
41.3
42.9

148.4
122.4
5.2
117.2
25.9
32.3
6.4

72.7
67.4
–0.4
67.9
5.3
10.0
4.8

1,691.1
1,340.2
345.5
36.0
309.5
994.7
50.3
271.3
96.1
20.5
22.1
11.0

1,289.1
877.8
139.9
35.1
104.9
737.9
28.3
183.7
51.4
16.6
15.6
8.9

1,328.6
976.3
258.0
47.3
210.6
718.4
30.0
150.9
53.3
16.4
12.4
13.4

1,249.8
916.6
243.4
47.0
196.4
673.2
33.4
139.7
43.6
17.6
11.1
11.4

1,360.5
996.2
300.2
49.2
251.0
696.0
22.4
151.8
55.0
14.4
11.4
12.9

1,481.2
1,118.6
346.7
49.6
297.1
771.9
26.4
170.9
83.9
12.0
14.3
24.1

1,736.5
1,348.0
362.7
56.9
305.8
985.3
41.5
250.4
140.1
17.4
19.9
44.8

1,810.4
1,416.6
362.4
60.3
302.1
1,054.2
...............
...............
...............
...............
...............
...............

–402.0
–462.4
–205.6
–0.9
–204.6
–256.8
–22.0
–87.6
–44.7
–3.9
–6.5
–2.1

39.5
98.5
118.1
12.2
105.7
–19.5
1.7
–32.8
1.9
–0.2
–3.2
4.5

110.7
79.6
56.8
2.2
54.6
22.8
–11.0
12.1
11.4
–3.2
0.3
1.5

120.7
122.4
46.5
0.4
46.1
75.9
4.0
19.1
28.9
–2.4
2.9
11.2

255.3
229.4
16.0
7.3
8.7
213.4
15.1
79.5
56.2
5.4
5.6
20.7

73.9
68.6
–0.3
3.4
–3.7
68.9
...............
...............
...............
...............
...............
...............

–1.2
–16.4
60.2
175.2
30.7
73.5
48.3
22.7
99.9
117.8
27.7
93.6
334.2
350.9

3.6
–34.6
41.3
132.3
28.4
78.2
22.2
3.4
84.0
75.0
28.1
75.2
263.6
411.3

6.1
–23.5
28.5
97.5
35.4
15.7
36.4
10.1
80.4
99.0
24.7
83.5
250.0
352.3

5.6
–30.5
28.4
96.1
36.7
6.4
42.2
10.9
73.8
99.7
20.3
74.0
232.1
333.2

5.6
–11.9
22.5
96.7
38.1
8.1
38.8
11.7
70.8
101.3
22.0
81.3
246.6
364.2

6.3
–4.6
31.8
87.0
31.5
9.7
35.1
10.7
73.0
97.1
29.5
109.0
266.0
362.6

9.2
5.7
43.2
110.3
36.6
33.5
28.7
11.6
91.5
129.1
39.4
112.9
320.4
388.5

...............
...............
...............
...............
...............
...............
...............
...............
...............
...............
..............
..............
..............
393.8

4.8
–18.2
–18.9
–42.9
–2.3
4.7
–26.1
–19.3
–15.9
–42.8
0.4
–18.4
–70.6
60.4

2.5
11.1
–12.8
–34.8
7.0
–62.5
14.2
6.7
–3.6
24.0
–3.4
8.3
–13.6
–59.0

0.0
18.6
–5.9
0.6
1.4
1.7
–3.4
0.8
–3.0
1.6
1.7
7.3
14.5
31.0

0.7
7.3
9.3
–9.7
–6.6
1.6
–3.7
–1.0
2.2
–4.2
7.5
27.7
19.4
–1.6

2.9
10.3
11.4
23.3
5.1
23.8
–6.4
0.9
18.5
32.0
9.9
3.9
54.4
25.9

...............
...............
...............
...............
...............
...............
...............
...............
...............
...............
...............
...............
...............
5.3

NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).

Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business
Seasonally adjusted at annual rates
2007

2008

2009

2009
II

III

2010
IV

I

r

II

Billions of dollars
Gross value added of nonfinancial corporate business ........................................
Consumption of fixed capital ...............................................................................................
Net value added.................................................................................................................
Compensation of employees ...........................................................................................
Wage and salary accruals ...........................................................................................
Supplements to wages and salaries ............................................................................
Taxes on production and imports less subsidies .............................................................
Net operating surplus ......................................................................................................
Net interest and miscellaneous payments ...................................................................
Business current transfer payments (net) ....................................................................
Corporate profits with inventory valuation and capital consumption adjustments .......
Taxes on corporate income ......................................................................................
Profits after tax with inventory valuation and capital consumption adjustments ......
Net dividends .......................................................................................................
Undistributed profits with inventory valuation and capital consumption
adjustments ......................................................................................................
Addenda:
Profits before tax (without inventory valuation and capital consumption adjustments)....
Profits after tax (without inventory valuation and capital consumption adjustments).......
Inventory valuation adjustment........................................................................................
Capital consumption adjustment .....................................................................................

6,946.0
840.1
6,106.0
4,361.0
3,636.2
724.8
607.7
1,137.4
232.3
69.1
835.9
293.8
542.2
484.6

6,990.5
878.8
6,111.7
4,435.3
3,684.9
750.5
615.3
1,061.1
271.3
66.2
723.5
226.4
497.1
482.8

6,625.2
879.0
5,746.3
4,193.6
3,441.0
752.5
590.2
962.5
220.1
79.1
663.3
170.3
492.9
511.4

6,580.4
880.1
5,700.3
4,189.6
3,438.3
751.3
589.4
921.3
219.0
84.9
617.4
155.1
462.3
532.5

6,558.4
871.0
5,687.4
4,175.0
3,421.8
753.2
584.5
927.9
205.5
75.2
647.1
163.7
483.5
469.8

6,667.8
870.7
5,797.1
4,192.4
3,434.6
757.9
598.3
1,006.4
205.3
77.8
723.2
201.8
521.4
497.3

6,804.4
868.2
5,936.2
4,205.1
3,437.6
767.6
604.8
1,126.3
208.3
77.5
840.4
265.2
575.3
515.5

6,916.2
873.4
6,042.8
4,241.0
3,467.8
773.2
610.5
1,191.3
204.7
78.3
908.3
299.4
609.0
509.5

57.6

14.4

–18.5

–70.3

13.6

24.1

59.7

99.5

1,042.0
748.2
–47.2
–158.8

782.0
555.6
–44.1
–14.4

706.4
536.1
11.9
–55.1

642.6
487.5
30.6
–55.9

704.8
541.1
–8.7
–48.9

839.1
637.3
–67.2
–48.7

1,021.8
756.6
–36.4
–144.9

1,057.8
758.4
–3.5
–145.9

6,401.0
830.3
5,570.7

6,567.6
833.6
5,734.0

6,631.8
838.4
5,793.4

Billions of chained (2005) dollars
1

Gross value added of nonfinancial corporate business .....................................
Consumption of fixed capital 2.............................................................................................
Net value added 3................................................................................................................

6,626.5
794.1
5,832.4

6,686.4
819.9
5,866.5

6,284.3
830.5
5,453.8

6,216.4
830.5
5,385.9

6,210.3
829.8
5,380.5

Dollars; quarters seasonally adjusted
Price, costs, and profits per unit of real gross value added of nonfinancial
corporate business:
Price per unit of real gross value added of nonfinancial corporate business 4 ......
Compensation of employees (unit labor cost) .................................................................
Unit nonlabor cost............................................................................................................
Consumption of fixed capital........................................................................................
Taxes on production and imports less subsidies plus business current transfer
payments (net) .........................................................................................................
Net interest and miscellaneous payments ...................................................................
Corporate profits with inventory valuation and capital consumption adjustments (unit
profits from current production)....................................................................................
Taxes on corporate income..........................................................................................
Profits after tax with inventory valuation and capital consumption adjustments ..........

1.048
0.658
0.264
0.127

1.045
0.663
0.274
0.131

1.054
0.667
0.282
0.140

1.059
0.674
0.285
0.142

1.056
0.672
0.279
0.140

1.042
0.655
0.274
0.136

1.036
0.640
0.268
0.132

1.043
0.639
0.267
0.132

0.102
0.035

0.102
0.041

0.107
0.035

0.108
0.035

0.106
0.033

0.106
0.032

0.104
0.032

0.104
0.031

0.126
0.044
0.082

0.108
0.034
0.074

0.106
0.027
0.078

0.099
0.025
0.074

0.104
0.026
0.078

0.113
0.032
0.081

0.128
0.040
0.088

0.137
0.045
0.092

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2010.
1. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the chain-type price index for GDP goods and structures is used.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided
by 100.
3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital.
4. The deflator for gross value added of nonfinancial corporate business divided by 100.
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).

Appendix Table A. Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period
Seasonally adjusted at annual rates
2007

2008

2009

2006
III

Gross domestic product (GDP) and related aggregates:
GDP....................................................................................
Goods.................................................................................
Services..............................................................................
Structures ...........................................................................
Motor vehicle output ...........................................................
GDP excluding motor vehicle output ..................................
Final sales of computers 1 ..................................................
GDP excluding final sales of computers.............................
Farm gross value added 2 ..................................................
Nonfarm business gross value added 3 ..............................
Gross domestic income 4 ...................................................
Price indexes:
GDP....................................................................................
GDP excluding food and energy 5 ......................................
GDP excluding final sales of computers.............................
Gross domestic purchases.................................................
Gross domestic purchases excluding food and energy 5....
Gross domestic purchases excluding final sales of
computers to domestic purchasers.................................
Personal consumption expenditures (PCE)........................
PCE excluding food and energy 5 .......................................
Market-based PCE 6...........................................................
Market-based PCE excluding food and energy 6 ................

2007
IV

1.9
0.0 –2.6
0.1
3.0
4.1 –0.5 –3.8
0.0
7.2
2.3
1.5 –0.2
2.0
3.6
–5.5 –7.9 –16.6 –9.8 –10.5
0.0 –18.6 –24.7
4.0 –10.2
2.0
0.5 –2.1
0.0
3.4
18.4 26.5
5.0 12.5 22.4
1.9 –0.1 –2.7
0.0
2.8
–8.9 13.3
6.1 –26.2 –13.2
2.1 –1.1 –3.8 –0.1
4.2
0.1 –0.8 –2.9
1.9
2.6

I

II

2008
III

IV

I

II

2009
III

IV

I

II

2010
III

IV

I

0.9
3.2
2.3
2.9 –0.7
0.6 –4.0 –6.8 –4.9 –0.7
1.6
5.0
3.7
2.0
6.3
3.3
9.6 –1.2 –0.1 –10.8 –18.6 –2.4 –0.4
6.8 23.9 19.5
1.5
2.0
3.0
2.5
1.5
1.1 –0.2
0.0 –1.5
0.8 –0.2
0.8
0.0
–5.5
3.1 –4.7 –10.9 –12.3 –0.2 –9.4 –16.9 –31.9 –13.4 –0.1 –15.9 –15.2
10.2
4.4 –2.0 –14.6 –8.4 –35.1 –20.7 –58.0 –51.1 –2.0 145.5 13.7 42.3
0.6
3.2
2.4
3.5 –0.5
1.7 –3.6 –5.2 –3.8 –0.7
0.0
4.8
3.0
2.1 12.2 56.0 37.2 19.6 36.0
5.5 12.0
7.8 –10.5 –4.0 17.3 19.2
0.9
3.2
2.0
2.7 –0.8
0.4 –4.1 –6.9 –4.9 –0.6
1.6
5.0
3.7
–9.4 –15.6 –19.3 41.9 55.4 –14.5
6.7 13.8 16.3 –7.3 19.3 –13.9 –0.8
0.3
4.2
2.5
2.5 –2.5 –0.3 –6.2 –9.5 –6.4 –0.2
1.4
6.7
5.0
–2.3
0.2 –2.0
2.5
0.8 –2.5 –2.6 –6.9 –4.9 –1.6
0.0
6.7
4.1

II r
1.6
–0.7
1.5
12.7
–3.8
1.7
5.3
1.6
6.0
1.6
2.3

2.9
2.8
3.1
2.9
2.7

2.2
2.3
2.3
3.2
2.6

0.9
0.8
1.0
–0.2
0.7

3.1
2.5
3.2
2.9
2.5

1.8
2.4
1.9
1.0
2.4

4.4
4.1
4.5
4.4
3.8

3.2
2.0
3.3
3.2
2.0

2.0
1.7
2.1
2.0
1.9

0.9
2.7
1.0
3.8
2.8

1.9
2.9
2.0
4.0
3.1

3.2
2.5
3.3
4.5
3.2

4.5
2.7
4.6
3.9
2.6

–1.2
–0.6
–1.1
–4.4
–0.4

1.1
0.3
1.2
–2.0
–0.2

0.3
0.8
0.4
0.6
0.8

0.7
0.6
0.9
1.4
0.4

–0.2
1.5
–0.2
2.1
1.5

1.0
1.7
1.0
2.1
1.6

1.9
1.0
2.0
0.1
0.8

3.1
2.7
2.4
2.6
2.1

3.3
3.3
2.3
3.4
2.3

–0.1
0.2
1.5
0.3
1.9

3.0
3.0
2.3
3.1
2.3

1.1
–0.1
2.1
–0.7
1.6

4.6
4.0
2.9
3.7
2.5

3.3
3.5
1.7
3.7
1.6

2.2
2.3
2.2
2.0
1.7

3.9
4.2
2.8
4.5
2.9

4.1
3.9
2.6
4.1
2.5

4.6
4.6
2.6
4.5
2.1

4.1
4.4
2.2
5.2
2.8

–4.3
–5.8
0.6
–6.0
1.5

–1.9
–1.6
0.9
–1.1
1.9

0.7
1.9
2.3
1.9
2.3

1.5
2.9
1.5
3.0
1.3

2.1
2.7
2.1
2.2
1.4

2.2
2.1
1.2
1.7
0.7

0.1
0.0
1.1
–0.2
1.1

r Revised
1. For some components of final sales of computers, includes computer parts.
2. Farm output less intermediate goods and services purchased.
3. Consists of GDP less gross value added of farm, of households and institutions, and of general government.
4. Gross domestic income deflated by the implicit price deflator for gross domestic product. Includes changes due to the incorporation of revised wage and salary estimates for the first quarter of 2010.
5. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
6. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without
payment) and the final consumption expenditures of nonprofit institutions serving households.
See “Explanatory Note” at the end of the tables.

Explanatory Note: NIPA Measures of Quantities and Prices
Current-dollar GDP is a measure of the market value of goods, services, and structures produced
in the economy in a particular period. Changes in current-dollar GDP can be decomposed into quantity
and price components. Quantities, or “real” measures, and prices are expressed as index numbers with the
reference year -- at present, the year 2005 -- equal to 100.
Annual changes in quantities and prices are calculated using a Fisher formula that incorporates
weights from two adjacent years. (Quarterly changes in quantities and prices are calculated using a Fisher
formula that incorporates weights from two adjacent quarters; quarterly indexes are adjusted for
consistency to the annual indexes before percent changes are calculated.) For example, the 2007-08
annual percent change in real GDP uses prices for 2007 and 2008 as weights, and the 2007-08 annual
percent change in GDP prices uses quantities for 2007 and 2008 as weights. These annual changes are
“chained” (multiplied) together to form time series of quantity and price indexes. Percent changes in
Fisher indexes are not affected by the choice of reference year. (BEA also publishes a measure of the
price level known as the implicit price deflator (IPD), which is calculated as the ratio of the current-dollar
value to the corresponding chained-dollar value, multiplied by 100. The values of the IPD are very close
to the values of the corresponding "chain-type" price index.)
Index numbers of quantity and price indexes for GDP and its major components are presented in
this release in tables 5 and 6. Percent changes from the preceding period are presented in tables 1, 4, 7, 8,
and appendix table A. Contributions by major components to the percent change in real GDP are
presented in table 2.
Measures of real GDP and its major components are also presented in dollar-denominated form,
designated "chained (2005) dollar estimates." For most series, these estimates, which are presented in
table 3, are computed by multiplying the current-dollar value in 2005 by a corresponding quantity index
number and then dividing by 100. For example, if a current-dollar GDP component equaled $100 in 2005
and if real output for this component increased 10 percent in 2006, then the chained (2005) dollar value of
this component in 2006 would be $110 (= $100 x 110 / 100). Percent changes calculated from
chained-dollar estimates and from chain-type quantity indexes are the same; any differences will be small
and due to rounding.
Chained-dollar values for the detailed GDP components will not necessarily sum to the chained-dollar
estimate of GDP (or to any intermediate aggregate). This is because the relative prices used as weights
for any period other than the reference year differ from those of the reference year. A measure of the
extent of such differences is provided by a “residual” line, which indicates the difference between GDP
(or other major aggregate) and the sum of the most detailed components in the table. For periods close to
the reference year, when there usually has not been much change in the relative prices that are used as
weights, the residuals tend to be small, and the chained-dollar estimates can be used to approximate the
contributions to growth and to aggregate the detailed estimates. For periods further from the reference
year, the residuals tend to be larger, and the chained-dollar estimates are less useful for analyses of
contributions to growth. Thus, the contributions to percent change shown in table 2 provide a better
measure of the composition of GDP growth. In particular, for components for which relative prices are
changing rapidly, calculation of contributions using chained-dollar estimates may be misleading even just
a few years from the reference year.
Reference: “Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes,” November
2003 Survey, pp. 8-16.