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NEWS RELEASE
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, THURSDAY, AUGUST 29, 2013
BEA 13-38
Lisa Mataloni:
Kate Shoemaker:
Recorded message:

(202) 606-5304 (GDP)
(202) 606-5564 (Profits)
(202) 606-5306

gdpniwd@bea.gov
cpniwd@bea.gov

GROSS DOMESTIC PRODUCT: SECOND QUARTER 2013 (SECOND ESTIMATE)
CORPORATE PROFITS: SECOND QUARTER 2013 (PRELIMINARY ESTIMATE)
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 2.5 percent in the second quarter of 2013
(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 1.1 percent.
The GDP estimate released today is 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 1.7
percent. With this second estimate for the second quarter, the increase in exports was larger than
previously estimated, and the increase in imports was smaller than previously estimated (see "Revisions"
on page 3).
The increase in real GDP in the second quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), exports, private inventory investment, nonresidential fixed
investment, and residential fixed investment that were partly offset by a negative contribution from
federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
The acceleration in real GDP in the second quarter primarily reflected upturns in exports and in
nonresidential fixed investment and a smaller decrease in federal government spending that were partly
offset by an acceleration in imports and decelerations in private inventory investment and in PCE.

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 (2009)
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. For information on revisions, see "Revisions to GDP, GDI, and Their Major
Components."

The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 0.3 percent in the second quarter, unrevised from the advance estimate; this index increased
1.2 percent in the first quarter. Excluding food and energy prices, the price index for gross domestic
purchases increased 0.9 percent in the second quarter, compared with an increase of 1.4 percent in the
first.
Real personal consumption expenditures increased 1.8 percent in the second quarter, compared
with an increase of 2.3 percent in the first. Durable goods increased 6.1 percent, compared with an
increase of 5.8 percent. Nondurable goods increased 1.8 percent, compared with an increase of 2.7
percent. Services increased 1.1 percent, compared with an increase of 1.5 percent.
Real nonresidential fixed investment increased 4.4 percent in the second quarter, in contrast to a
decrease of 4.6 percent in the first. Nonresidential structures increased 16.1 percent, in contrast to a
decrease of 25.7 percent. Equipment increased 2.9 percent, compared with an increase of 1.6 percent.
Intellectual property products decreased 0.9 percent, in contrast to an increase of 3.7 percent. Real
residential fixed investment increased 12.9 percent, compared with an increase of 12.5 percent.
Real exports of goods and services increased 8.6 percent in the second quarter, in contrast to a
decrease of 1.3 percent in the first. Real imports of goods and services increased 7.0 percent, compared
with an increase of 0.6 percent.
Real federal government consumption expenditures and gross investment decreased 1.6 percent
in the second quarter, compared with a decrease of 8.4 percent in the first. National defense decreased
0.6 percent, compared with a decrease of 11.2 percent. Nondefense decreased 3.2 percent, compared
with a decrease of 3.6 percent. Real state and local government consumption expenditures and gross
investment decreased 0.5 percent, compared with a decrease of 1.3 percent.
The change in real private inventories added 0.59 percentage point to the second-quarter change
in real GDP, after adding 0.93 percentage point to the first-quarter change. Private businesses increased
inventories $62.6 billion in the second quarter, following increases of $42.2 billion in the first quarter
and $7.3 billion in the fourth.
Real final sales of domestic product -- GDP less change in private inventories -- increased 1.9
percent in the second quarter, compared with an increase of 0.2 percent in the first.

Gross domestic purchases
Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 2.4 percent in the second quarter, compared with an increase of 1.4 percent in the
first.

Gross national product
Real gross national product -- the goods and services produced by the labor and property
supplied by U.S. residents -- increased 3.0 percent in the second quarter, compared with an increase of
0.6 percent in the first. GNP includes, and GDP excludes, net receipts of income from the rest of the
-2-

world, which increased $16.8 billion in the second quarter after decreasing $17.5 billion in the first; in
the second quarter, receipts increased $1.3 billion, and payments decreased $15.5 billion.

Current-dollar GDP
Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
3.2 percent, or $132.6 billion, in the second quarter to a level of $16,667.9 billion. In the first quarter,
current-dollar GDP increased 2.8 percent, or $115.0 billion.

Gross domestic income
Real gross domestic income (GDI), which measures the output of the economy as the costs
incurred and the incomes earned in the production of GDP, increased 2.5 percent in the second quarter,
compared with an increase of 2.4 percent (revised) in the first. For a given quarter, the estimates of
GDP and GDI may differ for a variety of reasons, including the incorporation of largely independent
source data. However, over longer time spans, the estimates of GDP and GDI tend to follow similar
patterns of change.

Revisions
The upward revision to the percent change in real GDP primarily reflected an upward revision to
exports, a downward revision to imports, and an upward revision to private inventory investment that
were partly offset by a downward revision to state and local government spending.
Advance Estimate
Second Estimate
(Percent change from preceding quarter)
Real GDP................................................
Current-dollar GDP................................
Gross domestic purchases price index...

1.7
2.4
0.3

-3-

2.5
3.2
0.3

Corporate Profits
Profits from current production (corporate profits with inventory valuation adjustment (IVA) and
capital consumption adjustment (CCAdj)) increased $78.3 billion in the second quarter, in contrast to a
decrease of $26.6 billion in the first. Taxes on corporate income increased $10.5 billion, in contrast to a
decrease of $25.0 billion. Profits after tax with IVA and CCAdj increased $67.9 billion, in contrast to a
decrease of $1.7 billion.
Dividends increased $273.8 billion in the second quarter, in contrast to a decrease of $103.8
billion in the first. The large second-quarter increase primarily reflected dividends paid by Fannie Mae
to the federal government. Undistributed profits decreased $205.9 billion, in contrast to an increase of
$102.1 billion. Net cash flow with IVA -- the internal funds available to corporations for investment -decreased $194.6 billion, in contrast to an increase of $140.7 billion.

Profits from current production reflect the depreciation of fixed assets valued at current cost using
consistent depreciation profiles. These profiles are based on used-asset prices and do not depend on the
depreciation-accounting practices used for federal income tax returns. The IVA and CCAdj are
adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return,
historical-cost basis to the current-cost economic measures used in the national income and product
accounts.

Corporate profits by industry
Domestic profits of financial corporations increased $14.3 billion in the second quarter, in
contrast to a decrease of $4.1 billion in the first. Domestic profits of nonfinancial corporations increased
$50.4 billion, in contrast to a decrease of $3.1 billion.
The rest-of-the-world component of profits increased $13.6 billion in the second quarter, in
contrast to a decrease of $19.6 billion in the first. This measure is calculated as the difference between
receipts from rest of the world and payments to rest of the world.

Gross value added of nonfinancial domestic corporate business
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 decreases in both the unit
nonlabor and labor costs incurred by corporations; unit prices were unchanged.

-4-

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 26, 2013, at 8:30 A.M. EDT for:
Gross Domestic Product: Second Quarter 2013 (Third Estimate)
Corporate Profits: Second Quarter 2013 (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
Line

2010

2011

2012

2009
III

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39

2010
IV

I

II

2011
III

IV

I

II

2012
III

IV

I

II

2013
III

Gross domestic product (GDP) .....
2.5
1.8
2.8
1.3
3.9
1.6
3.9
2.8
2.8 –1.3
3.2
1.4
4.9
3.7
1.2
2.8
Personal consumption expenditures .......
2.0
2.5
2.2
2.5
0.0
2.1
3.3
2.8
4.3
2.1
1.5
2.1
2.4
2.9
1.9
1.7
Goods.......................................................
3.4
3.4
3.3
7.3 –0.9
4.0
5.2
3.8
7.6
2.7
0.2
1.2
5.0
4.6
2.2
3.7
Durable goods ......................................
6.1
6.6
7.7 20.6 –7.0
5.4 12.5
6.7 12.9
5.4 –0.8
5.2 13.5
9.8
2.9
8.3
Nondurable goods ................................
2.2
1.9
1.4
1.5
2.0
3.4
1.9
2.5
5.2
1.4
0.7 –0.5
1.3
2.2
1.8
1.6
Services ...................................................
1.2
2.1
1.6
0.3
0.5
1.2
2.4
2.2
2.6
1.8
2.1
2.5
1.1
2.1
1.7
0.7
Gross private domestic investment ......... 12.9
4.9
9.5 –3.4 36.2 13.6 22.3 13.7 –3.5 –7.5 14.2
2.5 31.9 10.5 –1.6
6.5
Fixed investment ......................................
1.5
6.2
8.3 –0.5 –2.8
0.8 13.6 –0.4
8.5 –0.5
8.6 14.8 10.0
8.6
4.7
2.7
Nonresidential.......................................
2.5
7.6
7.3 –5.0 –3.6
4.2 11.4
8.3
8.6 –0.9
9.9 16.7
9.5
5.8
4.5
0.3
Structures ......................................... –16.4
2.1 12.7 –24.4 –30.0 –25.0 11.8 –5.8
7.7 –29.8 33.7 28.4 14.4
7.0
6.9
5.9
Equipment......................................... 15.9 12.7
7.6
5.3
7.7 31.2 23.3 18.0 11.8 12.0
4.3 20.3 10.2
8.3
5.3 –3.9
Intellectual property products ...........
1.9
4.4
3.4
1.1
6.6 –1.6 –2.0
6.1
5.0
3.7
4.9
5.3
5.5
1.3
1.8
2.8
Residential............................................ –2.5
0.5 12.9 21.0
0.3 –12.2 23.2 –30.7
7.9
1.7
2.7
6.1 12.2 23.0
5.7 14.1
Change in private inventories ................... ........... .......... .......... .......... .......... .......... .......... .......... ........... ........... ........... .......... .......... .......... .......... ..........
Net exports of goods and services .......... ........... .......... .......... .......... .......... .......... .......... .......... ........... ........... ........... .......... .......... .......... .......... ..........
Exports ..................................................... 11.5
7.1
3.5 14.0 23.4
6.4
9.5 10.9 12.4
3.8
4.9
7.0
2.7
4.2
3.8
0.4
Goods ................................................... 14.3
7.1
3.8 21.0 28.9 11.0 11.7
8.6 13.0
4.4
3.7
5.7
7.7
1.8
5.2
1.6
Services................................................
5.6
7.0
3.0
1.0 12.4 –3.1
4.6 16.3 11.0
2.4
7.7 10.0 –8.1 10.0
0.8 –2.6
Imports ..................................................... 12.8
4.9
2.2 15.9 18.7 11.9 20.2 14.5
0.9
2.8
0.7
4.9
5.9
0.7
2.5
0.5
Goods ................................................... 15.2
5.2
2.1 19.6 23.0 14.6 24.1 14.6
1.7
4.4 –0.7
3.5
6.7
0.9
2.5
0.4
Services................................................
2.8
3.1
2.7
2.5
2.2
0.4
3.8 14.0 –2.5 –5.0
7.8 11.9
1.8 –0.1
2.3
1.0
Government consumption expenditures
and gross investment ............................
0.1 –3.2 –1.0
2.2 –0.8 –2.9
2.9 –0.3 –4.1 –7.5 –1.3 –2.5 –1.5 –1.4
0.3
3.5
Federal .....................................................
4.4 –2.6 –1.4
5.6
0.2
3.8
8.5
3.7 –2.7 –10.5
1.8 –3.4 –3.1 –2.5 –0.2
8.9
National defense...................................
3.2 –2.3 –3.2
8.6 –1.3 –1.8
6.4
7.6 –3.5 –14.2
6.8
2.4 –10.2 –6.7 –1.0 12.5
Nondefense ..........................................
6.4 –3.0
1.8
0.2
3.0 14.8 12.3 –2.8 –1.2 –3.5 –6.5 –13.1 11.3
5.4
1.2
2.8
State and local.......................................... –2.7 –3.6 –0.7
0.1 –1.4 –7.1 –0.8 –3.1 –5.0 –5.4 –3.4 –1.9 –0.4 –0.6
0.6 –0.2
Addenda:
Final sales of domestic product................
1.0
2.0
2.6
1.6 –0.5
0.0
2.8
0.9
4.5 –0.3
2.4
3.0
2.1
3.4
2.2
2.2
Gross domestic purchases.......................
2.9
1.7
2.6
1.8
3.8
2.5
5.5
3.5
1.4 –1.3
2.6
1.2
5.3
3.1
1.1
2.7
Final sales to domestic purchasers ..........
1.5
1.8
2.4
2.1 –0.5
0.9
4.5
1.7
3.0 –0.3
1.8
2.8
2.6
2.9
2.0
2.2
Gross domestic income (GDI) 1 ...............
2.7
2.5
2.5
2.0
5.9
0.5
2.8
5.2
1.6
2.0
2.3
2.2
2.6
5.4 –0.6
0.9
Gross national product (GNP) ..................
2.8
2.1
2.7
2.6
4.2
1.7
3.9
2.6
3.2 –0.5
3.1
1.9
4.8
3.0
1.4
2.4
Disposable personal income ....................
1.1
2.4
2.0 –4.0 –0.1
0.3
5.4
1.9
2.7
5.0 –0.4
1.6 –0.6
4.6
1.8 –0.6
Current-dollar measures:
GDP......................................................
3.7
3.8
4.6
1.2
5.1
3.0
5.8
4.7
4.9
0.3
5.9
3.9
5.4
5.8
3.0
4.9
Final sales of domestic product ............
2.3
4.0
4.4
1.7
0.7
1.3
4.7
2.7
6.6
1.4
5.2
5.5
2.6
5.5
3.9
4.6
Gross domestic purchases ...................
4.5
4.0
4.3
3.0
6.1
4.4
6.5
4.9
3.7
1.5
6.1
3.3
6.3
5.5
2.1
3.9
Final sales to domestic purchasers ......
3.1
4.2
4.1
3.5
1.7
2.6
5.5
3.0
5.3
2.6
5.5
4.9
3.6
5.2
3.0
3.6
GDI .......................................................
4.0
4.5
4.3
1.9
7.1
1.9
4.6
7.1
3.7
3.7
5.0
4.8
3.1
7.5
1.1
3.0
GNP......................................................
4.1
4.2
4.4
2.5
5.4
3.6
5.7
4.5
5.3
1.1
5.8
4.4
5.3
5.0
3.2
4.6
Disposable personal income ................
2.8
4.8
3.9 –1.6
2.6
1.7
5.8
3.1
4.8
8.2
3.3
3.9
0.8
6.9
2.9
1.1

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
See “Explanatory Note” at the end of the tables.

-6-

IV

I

r

Line
II

r

0.1
1.1
2.5
1.7
2.3
1.8
3.7
3.7
3.2
10.5
5.8
6.1
0.6
2.7
1.8
0.6
1.5
1.1
–2.4
4.7
9.9
11.6 –1.5
6.0
9.8 –4.6
4.4
17.6 –25.7 16.1
8.9
1.6
2.9
5.7
3.7 –0.9
19.8 12.5 12.9
.......... .......... ...........
.......... .......... ...........
1.1 –1.3
8.6
–3.0 –2.8 10.1
11.3
2.2
5.2
–3.1
0.6
7.0
–3.5 –0.2
7.1
–1.0
5.0
6.3
–6.5 –4.2
–13.9 –8.4
–21.6 –11.2
1.0 –3.6
–1.0 –1.3

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

–0.9
–1.6
–0.6
–3.2
–0.5

22
23
24
25
26

2.2
–0.5
1.4
4.9
0.3
9.0

0.2
1.4
0.5
2.4
0.6
–7.9

1.9
2.4
1.9
2.5
3.0
3.2

27
28
29
30
31
32

1.6
3.3
1.3
3.0
6.4
1.8
10.7

2.8
1.6
2.9
1.7
4.2
2.3
–7.0

3.2
2.7
2.7
2.2
3.2
3.7
3.3

33
34
35
36
37
38
39

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

2010 2011 2012

2009
III

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

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........................................................
Information processing equipment...............
Computers and peripheral equipment......
Other ........................................................
Industrial equipment.....................................
Transportation equipment ............................
Other equipment ..........................................
Intellectual property products ..........................
Software.......................................................
Research and development .........................
Entertainment, literary, and artistic originals
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.................................................

r Revised
See “Explanatory Note” at the end of the tables.

2.5

1.8

2.8

1.34
0.77
0.43
0.04
0.12
0.22
0.05
0.34

1.74
0.76
0.46
0.11
0.09
0.20
0.06
0.30

1.52
0.77
0.56
0.17
0.10
0.22
0.07
0.22

2010
II

1.6

3.9

2.8

2.8

1.73 0.05 1.42
1.57 –0.21 0.88
1.35 –0.52 0.37
0.93 –0.92 –0.10
0.08 0.11 0.17
0.31 0.28 0.21
0.03 0.01 0.08
0.22 0.31 0.51

2.21
1.14
0.84
0.39
0.20
0.25
0.01
0.29

1.87
0.85
0.46
0.17
0.03
0.18
0.08
0.38

2.86
1.66
0.88
0.46
0.13
0.18
0.11
0.78

3.9

0.11 0.08 0.07 0.13 0.21
0.11 0.08 0.03 0.09 0.08
–0.02 –0.06 –0.04 –0.07 –0.10
0.13 0.19 0.16 0.07 0.13
0.57 0.98 0.74 0.15 0.26
0.56
0.16
0.15
–0.02
0.03
0.06
0.11
0.06

2011

I

1.3

IV

0.19 –0.15
0.19 0.14
0.01 0.10
0.13 0.21
0.54 1.07

III

I

–1.3

II

3.2

2012
III

1.4

IV

3.7

1.2

2.8

0.1

1.98 1.28
1.04 0.50
0.69 0.21
0.26 –0.11
0.13 0.02
0.22 0.19
0.09 0.12
0.35 0.28

1.15
0.84
0.59
0.19
0.09
0.22
0.08
0.25

I

0.09 0.31 0.07 0.08 –0.05 –0.02 0.15 0.12 0.09 0.05
0.02 0.27 0.05 0.10 –0.15 0.09 0.10 –0.09 0.11 –0.04
0.05 –0.04 –0.08 –0.25 –0.01 –0.02 –0.12 0.18 –0.08 –0.14
0.23 0.25 0.19 0.18 0.14 0.15 0.22 0.07 0.14 0.23
1.02 1.20 0.81 0.98 1.14 0.51 0.94 0.78 0.31 0.29

0.11 –0.07
0.04 0.12
0.11 0.02
0.17 0.21
0.69 0.48

10
11
12
13
14

0.13 1.04 0.71
–0.35 0.58 –0.02
0.26 0.14 0.29
–0.01 0.06 0.05
–0.04 0.06 0.05
0.27 0.11 0.04
–0.01 0.27 0.19
0.01 –0.17 0.09

15
16
17
18
19
20
21
22

0.16 –0.35 –0.22
0.09 –0.22 0.00

23
24

1.27 0.84
0.28 0.06
0.43 0.24
0.04 0.02
0.08 –0.06
0.14 0.21
0.20 0.22
0.10 0.14

0.07 –0.11 –0.07 –0.03
0.32 0.18 0.17 –0.06

0.94 0.84 0.66 0.87 0.52 0.25
0.17 0.32 –0.13 –0.12 0.55 0.16
0.30 –0.09 0.55 0.54 0.03 0.26
0.09 0.06 0.02 –0.01 0.04 0.02
0.15 0.07 0.02 0.05 0.01 0.03
0.20 0.14 0.18 0.18 0.10 0.05
0.02 0.31 –0.10 –0.05 –0.17 –0.35
0.00 0.03 0.12 0.28 –0.04 0.09

0.08
1.66
0.21
0.28
–0.49
0.70
0.17
0.05
0.12
–0.01
0.43
0.10
0.07
–0.02
0.04
0.05
–0.07
1.45
–0.04
1.49
–0.51
1.28
1.08
0.20
–1.79
–1.72
–0.07

0.09
0.69
0.85
0.84
0.05
0.62
0.04
–0.01
0.05
0.16
0.27
0.14
0.17
0.10
0.05
0.01
0.01
–0.16
0.02
–0.18
0.10
0.89
0.63
0.27
–0.79
–0.70
–0.09

0.12
1.36
1.17
0.85
0.31
0.41
0.05
0.03
0.02
0.06
0.25
0.05
0.13
0.10
0.03
0.00
0.32
0.20
–0.03
0.22
0.10
0.48
0.36
0.12
–0.38
–0.30
–0.07

0.09
–0.40
–0.02
–0.54
–0.84
0.25
0.43
0.12
0.31
–0.11
0.09
–0.16
0.04
0.07
–0.02
–0.01
0.52
–0.38
–0.09
–0.29
–0.53
1.45
1.41
0.04
–1.98
–1.92
–0.06

0.24
–0.51
1.13
0.94
0.18
0.57
0.19
–0.03
0.22
0.14
0.08
0.16
0.19
0.09
0.06
0.04
0.19
–1.64
0.02
–1.66
1.32
1.47
1.07
0.40
–0.15
–0.22
0.07

–0.02
–1.11
–0.05
–0.09
–0.82
0.59
–0.15
–0.09
–0.06
0.22
0.26
0.25
0.14
0.13
0.04
–0.03
0.04
–1.06
0.11
–1.17
0.01
0.48
0.38
0.09
–0.46
–0.61
0.14

0.06
1.88
1.16
1.09
0.68
0.23
0.14
0.14
0.00
0.00
0.04
0.05
0.18
0.13
0.06
–0.01
0.07
0.72
–0.02
0.74
0.53
0.64
0.34
0.30
–0.11
0.10
–0.21

–0.30
0.36
1.96
1.81
0.62
0.99
–0.01
0.03
–0.03
0.33
0.43
0.24
0.20
0.14
0.05
0.01
0.15
–1.60
0.08
–1.68
0.10
0.92
0.53
0.39
–0.82
–0.50
–0.32

0.02
0.37
0.18
0.16
0.02
0.19
0.13
0.06
–0.35
–0.27
–0.08

–0.68
–0.23
–0.13
–0.06
–0.07
–0.10
–0.09
0.00
–0.46
–0.30
–0.16

–0.20 0.48 –0.17 –0.63 0.61 –0.07 –0.87
–0.12 0.47 0.02 0.32 0.71 0.32 –0.23
–0.17 0.46 –0.07 –0.11 0.34 0.41 –0.19
–0.11 0.41 0.01 –0.05 0.23 0.37 –0.25
–0.06 0.06 –0.08 –0.06 0.11 0.04 0.06
0.05 0.01 0.09 0.43 0.37 –0.09 –0.04
0.08 –0.06 0.04 0.34 0.28 –0.11 –0.05
–0.02 0.07 0.06 0.09 0.09 0.02 0.01
–0.08 0.01 –0.19 –0.95 –0.10 –0.39 –0.63
0.00 0.04 0.07 –0.68 –0.35 –0.41 –0.35
–0.08 –0.03 –0.26 –0.28 0.24 0.02 –0.28

–1.61
–0.94
–0.83
–0.47
–0.36
–0.11
–0.13
0.02
–0.67
–0.33
–0.34

–0.25
0.16
0.36
0.31
0.06
–0.21
–0.17
–0.04
–0.41
–0.26
–0.15

–0.52
–0.29
0.13
0.19
–0.06
–0.42
–0.39
–0.03
–0.23
–0.17
–0.06

0.29
1.86
–0.04
0.90
–0.15
0.83
0.13
–0.09
0.22
0.04
0.54
0.12
0.22
0.06
0.11
0.05
–0.94
1.90
–0.11
2.01
–0.88
1.27
0.70
0.57
–2.15
–1.79
–0.36

0.04
0.11

0.30 –0.15
0.00 0.26

1.1

Line
II r

2
3
4
5
6
7
8
9

0.01
0.10

-7-

III

1.54 1.21
0.85 0.73
0.43 0.45
0.13 –0.02
0.07 0.14
0.16 0.23
0.07 0.09
0.43 0.28

0.09
0.21

0.25
2.86
1.77
1.21
0.27
1.02
0.06
–0.03
0.09
0.22
0.55
0.19
–0.08
–0.14
–0.03
0.09
0.56
1.09
–0.09
1.18
–1.77
1.10
0.93
0.17
–2.87
–2.77
–0.10

II

1.13
0.85
0.74
0.33
0.07
0.21
0.13
0.10

1.42 1.03 1.42 1.65
0.60 0.05 0.29 1.14
0.38 –0.06 0.36 0.93
0.09 –0.43 0.04 0.56
0.04 0.09 0.09 0.17
0.21 0.18 0.20 0.25
0.04 0.09 0.04 –0.04
0.22 0.11 –0.08 0.21

0.00
0.09

–0.08
1.77
0.11
0.46
–0.73
1.25
0.14
0.03
0.12
–0.09
0.87
0.34
–0.07
–0.15
0.01
0.08
–0.35
1.66
–0.06
1.72
–0.96
0.73
0.85
–0.12
–1.70
–1.68
–0.02

4.9

2013

I

1

0.02
0.09

–0.15
4.05
–0.36
–0.37
–0.98
0.36
0.27
0.25
0.02
–0.06
0.20
–0.05
0.25
0.10
0.11
0.04
0.01
4.40
0.10
4.30
–0.05
2.42
1.99
0.43
–2.47
–2.41
–0.06

IV

2.5

0.97 0.65 0.14 0.10 0.53 1.00 1.14
0.16 0.10 0.10 0.26 0.18 –0.02 0.27
0.30 0.30 0.18 –0.14 –0.11 0.41 0.44
0.05 0.02 –0.11 –0.08 0.01 0.04 0.05
0.05 0.04 –0.05 0.07 0.08 –0.06 0.15
0.17 0.15 –0.04 –0.02 0.15 0.13 0.10
0.15 –0.07 0.01 –0.15 0.21 0.41 –0.02
0.09 0.10 0.06 0.15 0.01 0.08 0.15
0.16 0.00
0.02 –0.08

IV

0.06
0.39

0.26
0.09

0.06
0.31

0.41
4.13
1.39
1.10
0.35
0.54
0.05
0.06
–0.01
0.23
0.47
–0.20
0.21
0.16
0.03
0.02
0.29
2.73
0.05
2.68
–0.60
0.38
0.72
–0.35
–0.98
–0.93
–0.05

0.33
1.57
1.21
0.68
0.18
0.45
0.23
0.11
0.12
–0.19
0.30
0.11
0.05
0.03
0.03
–0.01
0.53
0.36
0.08
0.27
0.44
0.56
0.17
0.39
–0.12
–0.12
0.00

–0.16
–0.23
0.68
0.53
0.18
0.29
–0.20
–0.10
–0.10
0.12
0.29
0.08
0.07
0.11
–0.03
0.00
0.15
–0.91
–0.14
–0.76
0.10
0.51
0.48
0.03
–0.41
–0.35
–0.06

0.25
0.99
0.39
0.04
0.15
–0.22
–0.08
–0.19
0.11
0.00
–0.25
0.10
0.11
0.06
0.04
0.00
0.35
0.60
–0.32
0.91
–0.03
0.05
0.16
–0.10
–0.08
–0.05
–0.03

0.22
1.48
0.90
0.53
0.40
0.16
0.15
–0.07
0.23
–0.01
0.06
–0.05
–0.04
–0.03
–0.02
0.01
0.37
0.59
0.14
0.45
0.00
1.11
0.90
0.21
–1.11
–0.95
–0.17

25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51

–0.31
–0.25
–0.57
–0.58
0.00
0.32
0.38
–0.06
–0.05
–0.04
–0.01

–0.28 0.05 0.67 –1.31 –0.82 –0.18
–0.20 –0.02 0.69 –1.19 –0.68 –0.12
–0.36 –0.05 0.60 –1.22 –0.57 –0.03
–0.11 –0.13 0.61 –1.14 –0.38 –0.12
–0.25 0.08 –0.01 –0.08 –0.18 0.09
0.16 0.04 0.08 0.03 –0.11 –0.09
0.18 0.03 0.08 0.05 –0.05 –0.08
–0.02 0.00 0.00 –0.02 –0.05 –0.01
–0.08 0.07 –0.02 –0.12 –0.14 –0.06
0.10 0.03 0.12 –0.01 0.01 0.05
–0.18 0.04 –0.14 –0.11 –0.16 –0.11

52
53
54
55
56
57
58
59
60
61
62

–0.07
–0.36
1.63
1.13
0.44
0.47
0.31
0.28
0.04
0.07
0.01
0.07
0.21
0.16
0.05
0.01
0.50
–2.00
0.10
–2.09
0.68
0.15
–0.28
0.43
0.53
0.50
0.03

0.13
0.71
–0.23
–0.57
–0.80
0.09
–0.05
–0.08
0.04
0.00
–0.10
0.24
0.14
0.13
–0.01
0.02
0.34
0.93
0.88
0.06
–0.28
–0.18
–0.27
0.09
–0.10
0.03
–0.13

Table 3. Gross Domestic Product: Level and Change from Preceding Period—Continues
Billions of dollars

Billions of chained (2009) dollars

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Change from preceding
period

Line
2012

Line

2012
2012

2013

2012

2013

2013
2012

1
Gross domestic product ...................................
2 Personal consumption expenditures ......................
3 Goods.....................................................................
4
Durable goods .....................................................
5
Motor vehicles and parts .................................
6
Furnishings and durable household
equipment ....................................................
7
Recreational goods and vehicles.....................
8
Other durable goods ........................................
9
Nondurable goods ...............................................
10
Food and beverages purchased for offpremises consumption .................................
11
Clothing and footwear......................................
12
Gasoline and other energy goods....................
13
Other nondurable goods ..................................
14 Services .................................................................
15
Household consumption expenditures (for
services) ..........................................................
16
Housing and utilities.........................................
17
Health care ......................................................
18
Transportation services....................................
19
Recreation services .........................................
20
Food services and accommodations ...............
21
Financial services and insurance ....................
22
Other services .................................................
23
Final consumption expenditures of nonprofit
institutions serving households........................
24
Gross output of nonprofit institutions ...............
25
Less: Receipts from sales of goods and
services by nonprofit institutions..................
26 Gross private domestic investment ........................
27 Fixed investment ...................................................
28
Nonresidential .....................................................
29
Structures ........................................................
30
Equipment .......................................................
31
Information processing equipment...............
32
Computers and peripheral equipment......
33
Other ........................................................
34
Industrial equipment ....................................
35
Transportation equipment ............................
36
Other equipment ..........................................
37
Intellectual property products ..........................
38
Software.......................................................
39
Research and development .........................
40
Entertainment, literary, and artistic originals
41
Residential...........................................................
42 Change in private inventories ..............................
43
Farm ....................................................................
44
Nonfarm...............................................................
45 Net exports of goods and services .........................
46 Exports...................................................................
47
Goods..................................................................
48
Services...............................................................
49 Imports...................................................................
50
Goods..................................................................
51
Services...............................................................

Ir

II r

418.3
226.3
114.2
89.6
24.6

44.3
59.2
32.7
18.3
4.8

97.1
46.6
28.2
19.4
–0.8

1
2
3
4
5

275.1
273.3
276.2
277.9
280.7
284.5
292.8
290.1
294.1
297.3
300.3
306.7
334.5
332.2
336.1
339.9
342.3
346.5
410.9
404.9
416.1
426.8
435.2
447.5
191.3
189.1
192.4
197.8
200.6
204.5
183.6
181.9
185.0
190.1
192.8
196.6
2,567.0 2,549.2 2,578.4 2,595.4 2,607.0 2,591.9 2,296.8 2,293.9 2,303.0 2,306.7 2,322.2 2,332.4

16.8
40.4
9.9
30.8

3.0
8.4
2.7
15.5

6.4
12.3
3.8
10.2

6
7
8
9

863.3
861.0
866.0
871.8
878.9
877.1
809.4
808.4
811.7
813.5
817.6
814.8
354.6
352.1
357.1
357.4
360.0
362.6
338.9
336.3
340.5
339.0
340.5
345.3
417.0
410.1
419.5
421.6
418.3
393.4
271.5
274.7
272.5
268.8
271.7
272.3
932.1
926.0
935.9
944.7
949.7
958.8
885.1
880.9
886.1
895.2
901.8
909.9
7,379.9 7,361.8 7,408.7 7,459.4 7,527.4 7,580.8 6,982.7 6,981.4 6,993.4 7,004.7 7,031.1 7,049.7

10.6
3.9
–3.7
23.5
111.6

4.1
1.5
2.9
6.6
26.4

–2.8
4.8
0.6
8.1
18.6

10
11
12
13
14

7,089.4 7,071.3 7,117.2 7,159.6 7,243.6 7,299.0 6,689.4 6,688.3 6,698.0 6,703.2 6,743.2 6,770.2
2,013.9 2,013.9 2,029.5 2,029.4 2,065.8 2,081.5 1,943.6 1,949.2 1,955.5 1,941.9 1,964.5 1,963.8
1,847.6 1,835.9 1,855.9 1,872.5 1,889.2 1,899.4 1,738.4 1,731.4 1,741.1 1,750.9 1,756.5 1,767.7
318.1
318.1
318.9
319.8
324.2
324.7
298.0
298.0
298.8
298.6
300.8
302.6
416.6
415.2
419.2
419.0
423.4
426.0
394.4
394.4
395.4
393.7
396.1
398.0
701.7
698.2
703.4
717.2
725.6
733.3
656.8
654.1
656.2
666.6
670.7
672.3
821.0
821.3
817.9
824.2
835.1
844.8
746.0
751.1
738.1
737.7
747.6
754.7
970.4
968.6
972.4
977.5
980.4
989.2
911.9
909.8
913.2
913.6
907.1
910.7

97.4
15.2
45.1
3.7
5.6
22.8
–10.0
15.2

40.0
22.6
5.6
2.2
2.4
4.1
9.9
–6.5

27.0
–0.7
11.2
1.8
1.9
1.6
7.1
3.6

15
16
17
18
19
20
21
22

290.5
290.5
291.5
299.8
283.8
281.9
293.6
293.4
295.8
302.3
287.6
278.4
1,194.1 1,185.4 1,202.7 1,212.5 1,209.9 1,217.0 1,132.1 1,126.2 1,138.1 1,141.4 1,132.7 1,132.6

14.7
32.1

–14.7
–8.7

–9.2
–0.1

23
24

853.0
17.9
4.9
8.2
2,529.2 211.4
28.3
59.1
2,455.8 180.7
–9.1
35.8
1,970.1 131.3 –22.9
21.1
423.5
47.5 –31.5
15.6
929.2
64.2
3.7
6.7
306.7
7.8
–2.1
6.7
............. ............ ............ ............
221.4
3.5
1.5
9.6
187.7
9.6
0.2
–0.3
217.7
40.0
–4.3
2.6
222.1
7.9
9.5
–1.9
619.2
19.7
5.7
–1.4
297.5
16.1
5.5
–1.1
246.8
3.9
–0.2
–0.6
76.0
0.2
0.8
0.3
485.7
49.4
13.7
14.5
62.6
24.0
34.9
20.4
20.0
–2.7
25.6
4.0
38.1
29.0
1.9
15.9
–422.0
15.1 –10.2
0.3
2,001.2
66.9
–6.5
40.7
1,375.6
49.3
–9.8
32.8
625.4
17.4
3.3
7.9
2,423.2
51.8
3.6
40.5
1,987.8
40.9
–1.1
33.8
434.9
11.0
5.2
6.6

25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51

16,244.6
11,149.6
3,769.7
1,202.7
401.7

903.6
2,475.2
2,409.1
1,970.0
437.3
907.6
284.5
79.2
205.4
195.3
214.4
213.4
625.0
281.6
269.1
74.3
439.2
66.1
–11.7
77.8
–547.2
2,195.9
1,536.0
659.9
2,743.1
2,295.4
447.7

II

III

IV

Ir

II r

16,160.4
11,100.2
3,738.4
1,189.3
394.6

16,356.0
11,193.6
3,784.9
1,206.5
401.8

16,420.3
11,285.5
3,826.1
1,230.7
415.1

16,535.3
11,379.2
3,851.8
1,244.8
421.3

16,667.9
11,429.9
3,849.1
1,257.2
421.7

894.9
2,454.0
2,387.1
1,961.4
431.3
907.9
281.2
79.2
202.0
195.5
220.6
210.6
622.2
280.6
267.5
74.1
425.7
66.8
–7.4
74.3
–557.9
2,197.4
1,539.5
657.9
2,755.3
2,307.4
447.8

911.2
2,493.3
2,411.7
1,968.0
438.3
902.2
277.5
71.5
206.0
195.9
212.3
216.5
627.5
281.9
271.3
74.4
443.7
81.6
–23.9
105.5
–524.4
2,199.2
1,545.6
653.6
2,723.5
2,275.0
448.6

912.7
2,499.9
2,486.9
2,018.2
457.8
925.0
289.4
82.5
206.9
199.6
215.7
220.3
635.4
287.3
273.4
74.7
468.8
13.0
–15.6
28.6
–515.8
2,213.7
1,538.3
675.5
2,729.5
2,279.6
449.9

926.1
2,555.1
2,491.7
2,001.4
429.1
928.0
286.2
78.8
207.5
200.1
211.5
230.2
644.3
293.7
275.2
75.3
490.3
63.4
38.9
24.5
–523.1
2,214.2
1,531.6
682.6
2,737.3
2,281.9
455.3

935.1
2,626.1
2,541.1
2,029.3
451.3
933.9
291.4
75.8
215.6
199.5
213.9
229.1
644.2
293.8
275.0
75.4
511.7
85.0
42.1
42.9
–506.1
2,242.2
1,551.4
690.8
2,748.3
2,286.6
461.7

15,470.7
10,517.6
3,534.1
1,246.7
364.0

838.8
2,436.0
2,365.3
1,931.8
421.6
905.9
295.7
.............
207.8
184.6
221.0
209.7
605.8
285.9
245.7
74.8
433.7
57.6
–7.2
68.7
–430.8
1,957.4
1,353.2
603.7
2,388.2
1,964.3
422.8

II

III

IV

Ir

II r

15,427.7
10,496.8
3,514.7
1,228.6
356.3

15,534.0
10,541.0
3,546.7
1,253.4
363.5

15,539.6
10,584.8
3,579.2
1,285.2
375.8

15,583.9
10,644.0
3,611.9
1,303.5
380.6

15,681.0
10,690.6
3,640.1
1,322.9
379.8

833.2
2,418.0
2,347.9
1,925.0
416.0
908.5
292.0
.............
204.1
184.9
229.1
207.7
602.3
284.0
244.1
74.7
423.0
56.8
–4.9
64.7
–435.3
1,959.8
1,357.3
601.9
2,395.1
1,970.7
423.2

842.5
2,456.5
2,363.5
1,926.4
422.0
899.5
288.6
..............
208.7
185.0
218.8
211.6
606.4
286.6
245.7
74.6
437.3
77.2
–13.6
97.3
–436.5
1,961.6
1,362.8
598.0
2,398.0
1,972.7
424.2

839.9
2,441.8
2,429.1
1,971.9
439.4
918.8
302.1
..............
210.3
187.8
219.4
214.5
614.9
293.1
247.6
74.9
457.5
7.3
–9.6
20.3
–412.1
1,967.0
1,352.6
614.2
2,379.1
1,955.1
423.1

844.8
2,470.1
2,420.0
1,949.0
407.9
922.5
300.0
..............
211.8
188.0
215.1
224.0
620.6
298.6
247.4
75.7
471.2
42.2
16.0
22.2
–422.3
1,960.5
1,342.8
617.5
2,382.7
1,954.0
428.3

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
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.

-8-

Table 3. Gross Domestic Product: Level and Change from Preceding Period—Table Ends
Billions of dollars

Billions of chained (2009) dollars

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Change from preceding
period

Line
2012

2012
2012

Line

2013

2012

2013

2013
2012

52 Government consumption expenditures and
gross investment ..................................................
53 Federal ...................................................................
54
National defense .................................................
55
Consumption expenditures..............................
56
Gross investment ............................................
57
Nondefense.........................................................
58
Consumption expenditures..............................
59
Gross investment ............................................
60 State and local ......................................................
61
Consumption expenditures .................................
62
Gross investment ................................................
63 Residual......................................................................
Addenda:
64 Final sales of domestic product ..............................
65 Gross domestic purchases .....................................
66 Final sales to domestic purchasers ........................
67 Gross domestic product ......................................
68 Plus: Income receipts from the rest of the world.....
69 Less: Income payments to the rest of the world .....
70 Equals: Gross national product ..........................
71 Net domestic product..............................................
72 Gross domestic income 1........................................

II

III

IV

Ir

II r

3,167.0
1,295.7
817.1
652.0
165.1
478.6
359.7
118.9
1,871.3
1,536.4
334.9
.............

3,164.1
1,293.8
816.7
649.6
167.1
477.1
357.9
119.3
1,870.3
1,531.3
339.0
.............

3,193.5
1,322.1
841.9
675.0
166.9
480.2
361.1
119.2
1,871.4
1,536.8
334.6
.............

3,150.7
1,275.2
793.7
630.6
163.1
481.5
363.3
118.2
1,875.4
1,544.3
331.2
.............

3,124.1
1,255.0
775.8
619.7
156.1
479.2
362.6
116.6
1,869.1
1,543.0
326.1
.............

3,118.0
1,252.7
776.3
615.7
160.6
476.4
360.2
116.2
1,865.3
1,542.2
323.1
.............

16,178.5
16,791.8
16,725.7
16,244.6
818.6
565.7
16,497.4
13,701.7
16,261.6

16,093.6
16,718.3
16,651.4
16,160.4
814.4
555.7
16,419.2
13,626.7
16,150.3

16,274.4
16,880.4
16,798.8
16,356.0
812.0
564.4
16,603.7
13,800.9
16,269.6

16,407.3
16,936.1
16,923.1
16,420.3
829.8
572.8
16,677.3
13,845.3
16,522.0

16,471.9
17,058.4
16,995.0
16,535.3
813.3
575.9
16,772.7
13,931.5
16,690.9

16,582.9
17,174.0
17,089.0
16,667.9
815.6
558.2
16,925.2
14,035.5
16,822.7

II

III

IV

Ir

2,963.1
1,220.3
769.1
610.4
158.5
451.2
336.9
114.2
1,742.8
1,427.1
315.1
–34.1

2,963.5
1,218.5
768.8
608.4
160.2
449.7
335.2
114.5
1,745.0
1,425.2
319.2
–30.1

2,988.8
1,244.6
791.8
631.7
159.8
452.8
338.3
114.4
1,744.3
1,429.9
313.8
–34.6

2,938.8
1,198.9
745.0
588.1
156.8
453.9
340.2
113.7
1,739.8
1,429.5
309.6
–45.1

2,907.4
1,172.8
723.1
573.4
149.5
449.8
338.1
111.6
1,734.3
1,429.9
303.7
–38.0

15,403.2
15,902.3
15,835.2
15,470.7
705.5
487.3
15,693.1
13,015.8
15,487.0

15,360.8
15,864.4
15,797.9
15,427.7
703.6
479.9
15,656.2
12,978.2
15,418.0

15,444.9
15,971.4
15,882.8
15,534.0
698.9
485.5
15,751.1
13,073.6
15,451.9

15,528.3
15,950.8
15,939.7
15,539.6
711.5
490.7
15,764.8
13,067.9
15,636.0

15,536.4
16,005.8
15,958.6
15,583.9
695.2
491.9
15,789.7
13,099.9
15,730.6

II r

Ir

II r

2,900.5
–29.2
–31.4
–6.9
1,168.0
–17.6
–26.1
–4.8
722.0
–25.5
–21.9
–1.1
568.7
–16.7
–14.7
–4.7
153.2
–8.8
–7.3
3.7
446.1
7.9
–4.1
–3.7
335.0
11.3
–2.1
–3.1
111.0
–3.6
–2.1
–0.6
1,732.1
–11.7
–5.5
–2.2
1,431.8
0.3
0.4
1.9
299.6
–12.2
–5.9
–4.1
–40.2 ............. ............ .............
15,610.8
16,102.8
16,033.1
15,681.0
696.5
476.4
15,905.2
13,184.3
15,826.5

388.8
401.2
371.8
418.3
1.7
12.1
406.4
376.0
382.7

8.1
55.0
18.9
44.3
–16.3
1.2
24.9
32.0
94.6

74.4
97.0
74.5
97.1
1.3
–15.5
115.5
84.4
95.9

52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
1. Real gross domestic income is gross domestic income deflated by the implicit price deflator for gross domestic product.
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.

-9-

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

2010

2011

2012

2009
III

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

2010
IV

I

II

2011
III

IV

I

II

2012
III

IV

I

II

2013
III

IV

I

Line
II

r

Gross domestic product (GDP)
1.2
2.0
1.7
0.0
1.2
1.3
1.9
1.8
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.3
1.1
1.3
0.8
Personal consumption expenditures ...
1.7
2.4
1.8
2.5
2.8
1.4
0.5
1.2
2.1
3.0
3.7
2.3
1.3
2.3
1.1
1.7
1.6
1.1
0.0
Goods...................................................
1.6
3.6
1.3
5.2
3.3
1.1 –2.5
0.6
4.0
6.0
6.3
2.6
0.2
2.2 –1.2
1.3
0.7 –1.0 –3.3
Durable goods ..................................
–1.4 –1.0 –1.2 –2.7
1.5 –1.6 –2.4 –2.5 –1.9 –0.8
1.4 –0.6 –2.2 –0.7 –1.2 –2.2 –2.1 –1.1 –2.0
Nondurable goods ............................
3.1
5.9
2.4
9.1
4.2
2.4 –2.5
2.2
6.9
9.3
8.6
4.1
1.3
3.5 –1.1
3.0
2.0 –0.9 –4.0
Services ...............................................
1.7
1.8
2.2
1.3
2.5
1.5
1.9
1.5
1.2
1.5
2.4
2.2
2.0
2.3
2.2
1.9
2.1
2.1
1.8
Gross private domestic investment .....
–0.9
1.3
1.3 –4.7 –0.3 –0.8
0.5
0.7
2.1
1.1
1.7
1.0
0.7
1.4
1.6
1.3
1.5
2.1
1.8
Fixed investment ..................................
–0.8
1.3
1.3 –3.7
0.1 –1.1
0.1
0.5
1.8
1.4
2.2
1.1
0.7
1.5
1.5
1.4
1.3
2.3
2.0
Nonresidential...................................
–0.9
1.5
1.4 –3.9 –0.5 –1.5
0.9
0.6
1.6
1.5
2.3
1.3
0.9
2.1
1.5
1.0
0.8
1.3
1.2
Structures .....................................
–1.2
2.9
1.9 –10.5 –0.8
1.5
2.1
2.1
2.5
2.7
4.2
3.7
2.7
0.9
1.9
0.6
1.2
4.0
5.3
Equipment.....................................
–2.0
0.9
1.3 –2.1 –3.8 –4.2 –0.2
1.0
1.0
0.7
1.7
0.7
1.0
2.1
0.4
1.4
1.5 –0.3 –0.4
Intellectual property products .......
0.5
1.2
1.4 –0.7
3.3 –0.3
1.4 –1.0
1.9
2.0
2.2
0.5 –0.6
2.7
2.9
0.7 –0.6
1.9
0.9
Residential........................................
–0.4
0.7
0.9 –2.8
3.0
0.6 –2.8
0.0
2.3
0.8
1.4
0.1
0.1 –0.8
1.4
3.4
4.0
6.3
5.1
Change in private inventories ............... ........... .......... .......... ........... ........... .......... .......... ........... ........... .......... .......... ........... ........... .......... .......... ........... .......... .......... ..........
Net exports of goods and services ...... ........... .......... .......... ........... ........... .......... .......... ........... ........... .......... .......... ........... ........... .......... .......... ........... .......... .......... ..........
Exports .................................................
4.4
6.4
0.9
4.9
6.5
3.9
4.7
1.2
9.7 10.6
8.3
2.3 –4.0
2.9
0.6
0.0
1.5
1.4 –3.2
Goods ...............................................
5.0
7.6
0.4
5.2
6.6
4.2
5.4
1.4 12.7 12.7
9.5
1.9 –5.2
2.4 –0.1
0.0
1.1
1.2 –4.4
Services............................................
3.1
3.8
2.1
4.2
6.1
3.3
3.2
0.9
3.4
6.0
5.7
3.2 –1.0
4.0
2.4 –0.1
2.5
2.0 –0.3
Imports .................................................
6.0
7.8
0.5 14.5 13.0
6.4 –1.8 –2.2
9.6 17.4 12.8 –0.4 –0.8
4.3 –3.7 –5.0
4.1
0.5 –5.0
Goods ...............................................
6.7
8.8
0.6 17.1 14.2
7.5 –2.4 –2.9 10.4 20.4 14.6 –0.3 –0.3
4.8 –4.5 –5.9
4.5
0.6 –5.9
Services............................................
2.8
2.8
0.2
4.4
7.5
1.2
0.7
1.5
5.9
3.7
4.5 –0.7 –3.2
1.6
0.5 –0.3
2.3 –0.1 –0.5
Government consumption
expenditures and gross investment
2.7
2.8
1.3
1.2
2.0
4.8
3.0
2.0
2.9
3.6
4.1
1.7 –0.5
2.9
0.3
0.3
1.4
0.9
0.2
Federal .................................................
2.6
2.7
0.8
0.6
2.2
5.5
2.9
1.6
2.3
4.2
3.8
1.3 –1.0
1.5
0.8
0.2
0.6
2.4
0.9
National defense...............................
2.4
2.8
1.0
0.5
2.3
5.6
2.4
0.8
2.2
5.2
4.2
1.2 –1.6
2.4
1.2
0.4
0.8
2.8
0.9
Nondefense ......................................
3.1
2.5
0.4
0.9
2.2
5.4
3.9
2.9
2.3
2.5
3.2
1.7
0.0
0.0
0.2 –0.2
0.1
1.8
0.9
State and local......................................
2.7
2.9
1.6
1.5
1.9
4.3
3.1
2.3
3.3
3.1
4.3
1.9 –0.1
3.8 –0.1
0.4
1.9 –0.1 –0.3
Addenda:
Final sales of domestic product............
1.2
2.0
1.8
0.1
1.2
1.3
1.8
1.8
2.0
1.7
2.7
2.5
0.5
2.0
1.7
2.3
1.1
1.4
0.8
Gross domestic purchases...................
1.5
2.3
1.7
1.3
2.2
1.8
1.0
1.3
2.3
2.8
3.5
2.0
0.9
2.3
1.0
1.4
1.6
1.2
0.3
Final sales to domestic purchasers ......
1.5
2.3
1.7
1.4
2.3
1.7
0.9
1.3
2.2
2.9
3.6
2.0
0.9
2.3
1.0
1.4
1.5
1.2
0.3
Gross national product (GNP) ..............
1.3
2.0
1.7
0.0
1.2
1.8
1.8
1.8
2.1
1.6
2.7
2.4
0.5
2.0
1.7
2.3
1.1
1.3
0.7
Implicit price deflators:
GDP..................................................
1.2
2.0
1.7 –0.1
1.2
1.4
1.8
1.8
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.1
1.4
1.7
0.7
Gross domestic purchases ...............
1.5
2.3
1.6
1.2
2.2
1.9
0.9
1.3
2.3
2.8
3.5
2.1
0.9
2.2
1.0
1.2
1.9
1.5
0.3
GNP..................................................
1.3
2.0
1.7 –0.1
1.2
1.9
1.7
1.8
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.1
1.4
1.7
0.7

r Revised
See “Explanatory Note” at the end of the tables.

-10-

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

Table 5. Real Gross Domestic Product, Quantity Indexes
[Index numbers, 2009=100]
Seasonally adjusted
Line

2010

2011

2012

2012
II

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

III

2013
IV

I

Line
II r

Gross domestic product .....................................................
102.507
104.400
107.302
107.003
107.741
107.780
108.087
108.760
Personal consumption expenditures................................................
101.960
104.555
106.854
106.643
107.092
107.537
108.138
108.612
Goods ...............................................................................................
103.446
106.925
110.495
109.889
110.888
111.904
112.928
113.810
Durable goods...............................................................................
106.092
113.074
121.833
120.060
122.484
125.591
127.379
129.278
Nondurable goods.........................................................................
102.226
104.177
105.594
105.463
105.877
106.047
106.762
107.233
Services............................................................................................
101.244
103.411
105.090
105.070
105.252
105.421
105.818
106.098
Gross private domestic investment ..................................................
112.901
118.449
129.705
128.745
130.795
130.012
131.521
134.669
Fixed investment ...............................................................................
101.504
107.844
116.766
115.904
116.675
119.914
119.467
121.233
Nonresidential ...............................................................................
102.471
110.225
118.263
117.847
117.938
120.717
119.318
120.610
Structures..................................................................................
83.585
85.360
96.212
94.922
96.299
100.282
93.090
96.640
Equipment .................................................................................
115.892
130.639
140.604
140.999
139.602
142.609
143.175
144.216
Intellectual property products....................................................
101.887
106.388
109.962
109.326
110.072
111.617
112.648
112.385
Residential ....................................................................................
97.496
97.964
110.581
107.854
111.476
116.635
120.123
123.828
Change in private inventories ........................................................... .................... ................... ................... ................... .................... ................... ................... ...................
Exports of goods and services .........................................................
111.476
119.367
123.590
123.738
123.851
124.196
123.781
126.353
Imports of goods and services .........................................................
112.759
118.239
120.860
121.207
121.358
120.398
120.584
122.632
Government consumption expenditures and gross investment....
100.074
96.868
95.921
95.933
96.752
95.135
94.117
93.893
Federal..............................................................................................
104.350
101.660
100.212
100.065
102.212
98.455
96.315
95.922
State and local ..................................................................................
97.293
93.751
93.128
93.243
93.207
92.966
92.672
92.558
Addenda:
Final sales of domestic product ........................................................
101.045
103.082
105.751
105.460
106.038
106.610
106.666
107.177
Gross domestic purchases ...............................................................
102.933
104.666
107.374
107.118
107.841
107.702
108.073
108.728
Final sales to domestic purchasers ..................................................
101.507
103.381
105.866
105.617
106.185
106.565
106.691
107.189
Gross national product......................................................................
102.756
104.954
107.744
107.491
108.143
108.237
108.408
109.201

r Revised
See “Explanatory Note” at the end of the tables.

-11-

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

Table 6. Price Indexes for Gross Domestic Product
[Index numbers, 2009=100]
Seasonally adjusted
Line

2010

2011

2012

2012
II

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

III

2013
IV

I

Line
II r

Gross domestic product .....................................................
101.215
103.203
105.008
104.751
105.345
105.640
105.994
106.193
Personal consumption expenditures (PCE) .....................................
101.654
104.086
106.009
105.750
106.193
106.622
106.909
106.917
Goods ...............................................................................................
101.637
105.345
106.666
106.366
106.718
106.900
106.641
105.740
Durable goods...............................................................................
98.622
97.649
96.467
96.791
96.246
95.746
95.487
95.016
Nondurable goods.........................................................................
103.085
109.128
111.765
111.127
111.964
112.522
112.264
111.126
Services............................................................................................
101.663
103.463
105.689
105.450
105.939
106.493
107.060
107.536
Gross private domestic investment ..................................................
99.109
100.364
101.646
101.482
101.820
102.196
102.726
103.194
Fixed investment ...............................................................................
99.180
100.506
101.852
101.679
102.045
102.386
102.967
103.478
Nonresidential ...............................................................................
99.070
100.524
101.977
101.897
102.157
102.350
102.692
103.007
Structures..................................................................................
98.844
101.748
103.732
103.703
103.856
104.164
105.189
106.547
Equipment .................................................................................
98.009
98.928
100.187
99.940
100.300
100.673
100.601
100.504
Intellectual property products....................................................
100.541
101.789
103.169
103.304
103.486
103.325
103.816
104.045
Residential ....................................................................................
99.645
100.392
101.246
100.664
101.505
102.500
104.088
105.399
Change in private inventories ........................................................... .................... ................... ................... ................... .................... ................... ................... ...................
Exports of goods and services .........................................................
104.415
111.140
112.185
112.127
112.114
112.543
112.944
112.042
Imports of goods and services .........................................................
106.008
114.273
114.862
115.038
113.570
114.725
114.873
113.411
Government consumption expenditures and gross investment....
102.673
105.560
106.882
106.771
106.850
107.209
107.454
107.501
Federal..............................................................................................
102.614
105.344
106.184
106.182
106.224
106.370
107.007
107.251
State and local ..................................................................................
102.714
105.710
107.371
107.183
107.288
107.798
107.775
107.688
Addenda:
PCE excluding food and energy 1 .....................................................
101.287
102.743
104.632
104.482
104.849
105.187
105.542
105.756
Market-based PCE 2 .........................................................................
101.497
104.034
105.920
105.672
106.101
106.460
106.800
106.733
Market-based PCE excluding food and energy 2 ..............................
101.047
102.480
104.320
104.199
104.538
104.783
105.210
105.365
Final sales of domestic product ........................................................
101.217
103.217
105.033
104.774
105.374
105.663
106.024
106.230
Gross domestic purchases ...............................................................
101.528
103.884
105.599
105.383
105.742
106.150
106.467
106.553
Final sales to domestic purchasers ..................................................
101.528
103.898
105.624
105.405
105.769
106.171
106.496
106.587
Gross national product......................................................................
101.326
103.327
105.131
104.874
105.465
105.762
106.116
106.314
Implicit price deflators:
Gross domestic product ................................................................
101.211
103.199
105.002
104.750
105.292
105.667
106.105
106.294
Final sales of domestic product ....................................................
101.216
103.217
105.033
104.771
105.371
105.660
106.021
106.227
Gross domestic purchases ...........................................................
101.523
103.880
105.594
105.383
105.691
106.177
106.576
106.652
Final sales to domestic purchasers...............................................
101.528
103.898
105.624
105.403
105.767
106.170
106.494
106.586
Gross national product..................................................................
101.321
103.322
105.126
104.873
105.413
105.788
106.225
106.413

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

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.

-12-

Table 7. Real Gross Domestic Product: Percent Change From Preceding Year
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012 Line

Gross domestic product (GDP) ...............................................
4.5
4.4
4.8
4.1
1.0
1.8
2.8
3.8
3.4
2.7
1.8 –0.3 –2.8
2.5
1.8
2.8
Personal consumption expenditures .................................................
3.8
5.3
5.5
5.1
2.5
2.5
3.1
3.8
3.5
3.0
2.2 –0.4 –1.6
2.0
2.5
2.2
Goods.................................................................................................
4.8
6.7
7.9
5.2
3.0
3.9
4.8
5.1
4.1
3.6
2.7 –2.5 –3.0
3.4
3.4
3.3
Durable goods ................................................................................
8.2 12.1 12.8
8.6
5.2
7.3
7.1
8.2
5.4
4.3
4.6 –5.1 –5.5
6.1
6.6
7.7
Nondurable goods ..........................................................................
2.9
3.7
5.0
3.2
1.7
1.9
3.5
3.3
3.3
3.3
1.7 –1.1 –1.8
2.2
1.9
1.4
Services .............................................................................................
3.2
4.6
4.1
5.0
2.2
1.8
2.2
3.2
3.2
2.7
2.0
0.8 –0.8
1.2
2.1
1.6
Gross private domestic investment ................................................... 11.4
9.5
8.4
6.5 –6.1 –0.6
4.1
8.8
6.4
2.1 –3.1 –9.4 –21.6 12.9
4.9
9.5
Fixed investment ................................................................................
8.6 10.2
8.8
6.9 –1.6 –3.5
4.0
6.7
6.8
2.0 –2.0 –6.8 –16.7
1.5
6.2
8.3
Nonresidential................................................................................. 10.8 10.8
9.7
9.1 –2.4 –6.9
1.9
5.2
7.0
7.1
5.9 –0.7 –15.6
2.5
7.6
7.3
Structures ...................................................................................
7.3
5.1
0.1
7.8 –1.5 –17.7 –3.9 –0.4
1.7
7.2 12.7
6.1 –18.9 –16.4
2.1 12.7
Equipment................................................................................... 11.1 13.1 12.5
9.7 –4.3 –5.4
3.2
7.7
9.6
8.6
3.2 –6.9 –22.9 15.9 12.7
7.6
Intellectual property products ..................................................... 13.0 10.8 12.4
8.9
0.5 –0.5
3.8
5.1
6.5
4.5
4.8
3.0 –1.4
1.9
4.4
3.4
Residential......................................................................................
2.4
8.6
6.3
0.7
0.9
6.1
9.1 10.0
6.6 –7.6 –18.8 –24.0 –21.2 –2.5
0.5 12.9
Change in private inventories ............................................................. .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
Net exports of goods and services .................................................... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
Exports ............................................................................................... 11.9
2.3
4.6
8.4 –5.7 –1.9
1.6
9.4
6.0
8.9
8.9
5.7 –9.1 11.5
7.1
3.5
Goods ............................................................................................. 14.4
2.2
5.9 10.1 –6.2 –3.5
1.9
8.5
7.4
9.4
7.5
6.1 –12.0 14.3
7.1
3.8
Services..........................................................................................
5.9
2.6
1.4
3.9 –4.3
2.3
1.0 11.6
3.0
7.7 12.3
4.8 –2.1
5.6
7.0
3.0
Imports ............................................................................................... 13.5 11.7 11.4 12.8 –2.9
3.4
4.3 11.0
6.1
6.1
2.3 –2.6 –13.7 12.8
4.9
2.2
Goods ............................................................................................. 14.4 11.8 12.7 13.1 –3.2
3.7
4.9 11.1
6.7
5.9
1.8 –3.7 –15.8 15.2
5.2
2.1
Services..........................................................................................
8.7 10.9
4.7 11.0 –0.9
1.8
1.3 10.5
3.1
7.4
4.7
3.1 –3.1
2.8
3.1
2.7
Government consumption expenditures and gross investment .....
1.9
2.1
3.4
1.9
3.8
4.4
2.2
1.6
0.6
1.5
1.6
2.8
3.2
0.1 –3.2 –1.0
Federal ............................................................................................... –0.8 –0.9
2.0
0.3
3.9
7.2
6.8
4.5
1.7
2.5
1.7
6.8
5.7
4.4 –2.6 –1.4
National defense............................................................................. –2.7 –2.1
1.5 –0.9
3.5
7.0
8.5
6.0
2.0
2.0
2.5
7.5
5.4
3.2 –2.3 –3.2
Nondefense ....................................................................................
2.8
1.3
2.7
2.3
4.7
7.4
4.1
2.0
1.3
3.5
0.3
5.5
6.2
6.4 –3.0
1.8
State and local....................................................................................
3.6
3.8
4.2
2.8
3.7
2.9 –0.4 –0.1
0.0
0.9
1.5
0.3
1.6 –2.7 –3.6 –0.7
Addenda:
Final sales of domestic product..........................................................
4.0
4.5
4.9
4.2
1.9
1.2
2.8
3.4
3.4
2.6
2.0
0.2 –2.0
1.0
2.0
2.6
Gross domestic purchases.................................................................
4.7
5.5
5.7
4.8
1.1
2.3
3.1
4.2
3.5
2.6
1.1 –1.3 –3.8
2.9
1.7
2.6
Final sales to domestic purchasers ....................................................
4.2
5.6
5.7
4.8
2.0
1.8
3.1
3.9
3.5
2.6
1.4 –0.9 –3.0
1.5
1.8
2.4
Gross domestic income 1 ...................................................................
5.1
5.3
4.5
4.7
1.1
1.4
2.2
3.7
3.6
4.0
0.1 –0.8 –2.6
2.7
2.5
2.5
Gross national product .......................................................................
4.4
4.4
4.9
4.2
1.1
1.7
2.9
3.9
3.3
2.4
2.2
0.0 –3.0
2.8
2.1
2.7
Real disposable personal income ......................................................
3.7
5.9
3.3
5.0
2.8
3.1
2.7
3.6
1.5
4.0
2.1
1.5 –0.5
1.1
2.4
2.0
Price indexes:
Gross domestic purchases .............................................................
1.5
0.7
1.6
2.6
1.9
1.4
2.2
2.9
3.5
3.2
2.7
3.0 –0.2
1.5
2.3
1.7
Gross domestic purchases excluding food and energy 2 ...............
1.5
0.9
1.5
2.2
1.8
1.6
1.9
2.7
3.2
3.0
2.5
2.3
0.5
1.3
1.7
1.6
GDP................................................................................................
1.7
1.1
1.4
2.3
2.3
1.5
2.0
2.7
3.2
3.1
2.7
1.9
0.8
1.2
2.0
1.7
GDP excluding food and energy 2 ..................................................
1.8
1.2
1.5
2.3
2.0
1.8
1.9
2.7
3.4
3.1
2.6
2.1
0.5
1.4
1.8
1.7
Personal consumption expenditures...............................................
1.7
0.8
1.5
2.5
1.9
1.3
2.0
2.4
2.9
2.7
2.5
3.1 –0.1
1.7
2.4
1.8

1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.

-13-

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
2009

2010

2011

2012

2013

Line

Line
III

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40

Gross domestic product (GDP) ..............................................
Personal consumption expenditures (PCE) .....................................
Goods................................................................................................
Durable goods ...............................................................................
Nondurable goods .........................................................................
Services ............................................................................................
Gross private domestic investment ..................................................
Fixed investment ...............................................................................
Nonresidential................................................................................
Structures ..................................................................................
Equipment..................................................................................
Intellectual property products ....................................................
Residential.....................................................................................
Change in private inventories ............................................................
Net exports of goods and services ...................................................
Exports ..............................................................................................
Goods ............................................................................................
Services.........................................................................................
Imports ..............................................................................................
Goods ............................................................................................
Services.........................................................................................
Government consumption expenditures and gross investment ....
Federal ..............................................................................................
National defense............................................................................
Nondefense ...................................................................................
State and local...................................................................................
Addenda:
Final sales of domestic product.........................................................
Gross domestic purchases................................................................
Final sales to domestic purchasers ...................................................
Gross domestic income 1 ..................................................................
Gross national product ......................................................................
Real disposable personal income .....................................................
Price indexes:
Gross domestic purchases ............................................................
Gross domestic purchases excluding food and energy 2 ..............
GDP...............................................................................................
GDP excluding food and energy 2 .................................................
PCE ...............................................................................................
PCE excluding food and energy 2..................................................
Market-based PCE 3......................................................................
Market-based PCE excluding food and energy 3 ...........................

–3.3
–1.3
–2.2
–3.1
–1.8
–0.9
–24.9
–17.1
–16.5
–22.3
–23.1
–1.3
–19.5
..........
..........
–10.4
–13.7
–2.4
–13.8
–15.9
–3.5
3.2
5.7
5.3
6.5
1.6

IV

I

II

III

IV

I

II

III

IV

I

II

III

IV

Ir

II r

–0.2
1.6
2.7
3.0
2.8
2.0
1.9
1.5
2.0
3.3
2.8
3.1
2.0
1.3
1.6
–0.1
0.7
2.0
2.0
3.1
3.1
2.6
2.5
2.0
2.2
2.3
2.2
2.0
1.9
1.8
0.9
1.8
3.8
3.0
5.1
4.8
3.5
2.9
2.3
2.7
3.2
3.9
3.5
3.3
3.6
2.5
3.6
7.4
4.1
9.3
9.3
5.9
5.5
5.7
6.8
7.8
8.6
7.8
6.9
7.7
0.2
1.0
2.2
2.5
3.3
2.8
2.5
1.7
0.7
0.9
1.2
1.7
1.6
1.7
1.7
–0.6
0.2
1.1
1.6
2.1
2.2
2.2
2.3
1.9
2.0
1.9
1.4
1.3
1.1
1.0
–11.0
3.9 16.3 21.1 11.1
5.5
3.7
1.1
9.3 14.3 10.1 11.2
3.1
1.7
4.6
–11.9 –4.4
2.6
2.6
5.5
5.1
4.0
7.7
8.1 10.5
9.5
6.5
6.8
4.3
4.6
–12.2 –4.3
1.5
4.9
8.1
6.8
6.4
8.4
8.6 10.4
9.0
5.0
5.0
2.4
2.3
–27.1 –26.7 –18.4 –13.8 –4.0 –5.5 –1.2
6.7
8.3 20.4 13.9
8.5
9.3 –0.3
1.8
–11.5
6.7 16.4 19.7 20.9 16.2 11.4 12.0 11.6 10.7 10.9
4.8
4.5
2.9
2.3
1.3
2.6
1.0
2.2
1.8
3.1
4.9
4.7
4.9
4.2
3.5
2.8
2.9
3.5
2.8
–10.8 –4.5
7.0 –6.9 –5.2 –1.6 –6.0
4.6
5.6 10.7 11.6 13.6 15.5 12.9 14.8
.......... .......... .......... .......... .......... ........... .......... .......... .......... .......... .......... .......... .......... .......... ..........
.......... .......... .......... .......... .......... ........... .......... .......... .......... .......... .......... .......... .......... .......... ..........
0.4 10.8 13.1 12.4
9.8
9.1
7.9
6.9
4.6
4.7
4.4
2.8
2.4
1.0
2.1
–0.2 13.9 17.9 14.8 11.0
9.3
7.3
6.6
5.4
4.7
5.1
4.0
1.4
0.2
1.4
1.9
4.4
3.6
7.3
7.0
8.5
9.2
7.7
2.7
4.6
2.9 –0.2
4.7
2.8
3.9
–6.2
6.7 16.7 16.3 11.7
9.3
4.6
2.3
3.5
3.0
3.4
2.4
0.1
0.1
1.2
–6.6
8.3 20.3 19.0 13.5 10.8
4.8
2.2
3.4
2.6
3.4
2.6
0.0 –0.2
0.9
–4.3
0.1
2.2
5.0
3.7
2.3
3.3
2.8
3.9
5.2
3.9
1.2
0.5
1.8
2.8
2.3
1.4
0.3 –0.3 –1.1 –2.3 –3.3 –3.9 –3.3 –1.7 –1.3
0.2 –1.1 –1.8 –2.1
3.9
5.7
4.5
4.0
3.2 –0.5 –2.1 –3.8 –3.9 –1.8 –2.3
0.7 –2.3 –3.8 –4.1
3.6
5.4
2.9
2.6
2.0 –1.4 –1.3 –2.5 –4.2 –2.2 –4.0 –1.7 –5.0 –6.2 –6.1
4.6
6.3
7.4
6.6
5.5
1.0 –3.5 –6.2 –3.3 –1.2
0.8
5.1
2.6
0.3 –0.8
1.3 –1.3 –2.4 –3.1 –4.0 –3.6 –4.2 –3.9 –2.8 –1.6 –0.6 –0.2 –0.3 –0.5 –0.7

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

–2.1
–4.1
–2.9
–3.0
–3.5
0.0

–0.4
–1.2
–1.4
0.3
0.1
–0.6

0.4
1.3
0.2
2.0
2.0
–0.2

1.0
3.4
1.7
2.8
3.1
0.3

0.8
3.8
1.6
3.6
3.1
1.8

2.0
3.2
2.5
2.5
2.8
2.5

2.0
2.3
2.2
2.9
2.3
3.7

1.9
1.6
1.6
2.8
2.1
2.3

2.4
1.0
1.8
2.0
1.9
2.2

1.8
1.9
1.7
2.3
2.3
1.4

2.7
3.1
2.5
3.1
3.2
1.3

2.7
2.7
2.6
2.4
2.8
1.8

2.5
3.1
2.4
2.0
2.9
1.3

2.5
1.6
2.1
2.6
1.8
3.6

1.7
1.2
1.5
1.9
1.2
0.4

1.6
1.5
1.5
2.7
1.6
0.7

27
28
29
30
31
32

–1.1
0.0
0.3
0.1
–0.9
1.0
–0.6
1.7

0.3
0.5
0.4
0.6
1.2
1.4
1.5
1.8

1.4
1.0
0.5
1.1
2.1
1.6
2.1
1.4

1.6
1.2
1.1
1.4
1.8
1.3
1.6
1.1

1.6
1.4
1.6
1.6
1.4
1.3
1.2
1.0

1.6
1.4
1.8
1.6
1.3
1.0
1.1
0.7

1.8
1.4
1.8
1.6
1.7
1.0
1.7
0.9

2.5
1.8
2.0
1.9
2.5
1.3
2.6
1.3

2.7
1.9
2.2
2.0
2.8
1.6
3.0
1.6

2.3
1.8
1.8
1.8
2.6
1.8
2.7
1.9

2.2
1.9
1.9
1.9
2.4
2.0
2.5
2.0

1.5
1.6
1.7
1.7
1.7
1.9
1.7
1.9

1.4
1.5
1.6
1.5
1.6
1.8
1.5
1.7

1.5
1.5
1.8
1.6
1.7
1.7
1.5
1.5

1.3
1.3
1.6
1.5
1.4
1.5
1.3
1.4

1.1
1.2
1.4
1.3
1.1
1.2
1.0
1.1

33
34
35
36
37
38
39
40

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
3. 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.

-14-

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

2010

2011

2012

2012
II

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

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 ...........................................................................................
Wages and salaries......................................................................................................
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:
18 Gross domestic income ...................................................................................................

III

2013

Line

IV

Ir

II r

14,958.3
720.0
514.1
15,164.2
2,381.6
43.1
12,739.5
7,967.3
6,377.5
1,589.8
1,032.7
402.8
1,740.6
489.4
1,001.2
128.5
–22.9

15,533.8
802.8
542.1
15,794.6
2,452.6
–53.7
13,395.7
8,278.5
6,638.7
1,639.8
1,155.1
484.4
1,877.7
456.9
1,037.2
129.6
–23.8

16,244.6 16,160.4 16,356.0
818.6
814.4
812.0
565.7
555.7
564.4
16,497.4 16,419.2 16,603.7
2,542.9 2,533.7 2,555.1
–17.0
10.1
86.4
13,971.6 13,875.3 13,962.1
8,611.6 8,553.8 8,591.0
6,926.8 6,873.5 6,904.7
1,684.9 1,680.3 1,686.2
1,224.9 1,217.8 1,220.0
541.2
537.8
546.7
2,009.5 1,998.4 2,012.3
439.6
419.0
455.3
1,065.6 1,064.6 1,062.8
106.9
110.0
102.6
–27.7
–26.1
–28.5

16,420.3
829.8
572.8
16,677.3
2,575.0
–101.7
14,204.0
8,787.4
7,086.6
1,700.9
1,247.5
555.4
2,047.2
430.3
1,068.6
99.5
–31.8

16,535.3
813.3
575.9
16,772.7
2,603.8
–155.6
14,324.5
8,748.3
7,040.4
1,707.9
1,334.6
574.9
2,020.6
477.0
1,082.7
121.9
–35.5

16,667.9
815.6
558.2
16,925.2
2,632.4
–154.8
14,447.6
8,811.7
7,095.4
1,716.3
1,333.3
587.7
2,098.9
449.0
1,080.4
125.7
–38.9

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

14,915.2

15,587.5

16,261.6

16,522.0

16,690.9

16,822.7

18

16,150.3

16,269.6

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.

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

2010

2011

2012

2012
II

III

2013
IV

I

r

Line
II

r

Personal income 1 ............................................................................................................. 12,435.2 13,191.3 13,743.8 13,651.8 13,701.6 14,073.1 13,925.9 14,060.4
Compensation of employees ...........................................................................................
7,967.3 8,278.5 8,611.6 8,553.8 8,591.0 8,787.4 8,748.3 8,811.7
Wages and salaries...................................................................................................... 6,377.5 6,638.7 6,926.8 6,873.5 6,904.7 7,086.6 7,040.4 7,095.4
Supplements to wages and salaries ............................................................................ 1,589.8 1,639.8 1,684.9 1,680.3 1,686.2 1,700.9 1,707.9 1,716.3
Proprietors’ income with inventory valuation and capital consumption adjustments ....... 1,032.7 1,155.1 1,224.9 1,217.8 1,220.0 1,247.5 1,334.6 1,333.3
Farm.............................................................................................................................
46.0
72.6
75.4
77.0
75.3
74.5
137.0
119.7
Nonfarm .......................................................................................................................
986.7 1,082.6 1,149.6 1,140.8 1,144.7 1,173.0 1,197.6 1,213.6
Rental income of persons with capital consumption adjustment .....................................
402.8
484.4
541.2
537.8
546.7
555.4
574.9
587.7
Personal income receipts on assets ................................................................................ 1,739.6 1,884.6 1,958.5 1,935.3 1,926.9 2,062.8 1,935.8 1,998.6
Personal interest income..............................................................................................
1,195.0 1,204.1 1,211.6 1,219.4 1,203.7 1,218.4 1,215.8 1,229.9
Personal dividend income ............................................................................................
544.6
680.5
746.9
715.9
723.2
844.3
720.0
768.7
Personal current transfer receipts ....................................................................................
2,276.9 2,306.9 2,358.3 2,352.2 2,364.4 2,388.0 2,426.0 2,429.4
Less: Contributions for government social insurance, domestic ......................................
984.1
918.2
950.7
945.1
947.4
967.9 1,093.7 1,100.2
1,191.5 1,404.0 1,498.0 1,480.0 1,496.4 1,552.8 1,629.0 1,664.8
Less: Personal current taxes ...............................................................................................
Equals: Disposable personal income.............................................................................. 11,243.7 11,787.4 12,245.8 12,171.9 12,205.1 12,520.4 12,296.9 12,395.6
Less: Personal outlays......................................................................................................... 10,609.5 11,119.1 11,558.4 11,507.9 11,601.0 11,696.2 11,794.9 11,838.7
Equals: Personal saving ...................................................................................................
634.2
668.2
687.4
663.9
604.1
824.1
502.0
556.9
Personal saving as a percentage of disposable personal income ...................................
5.6
5.7
5.6
5.5
4.9
6.6
4.1
4.5
Addenda:
19 Personal income excluding current transfer receipts, billions of chained (2009) dollars 2 9,993.0 10,457.1 10,740.1 10,685.5 10,676.2 10,959.6 10,756.9 10,878.8
20 Disposable personal income, billions of chained (2009) dollars 2.................................... 11,060.8 11,324.6 11,551.6 11,510.2 11,493.6 11,743.0 11,502.4 11,593.9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
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 (net), and current surplus of government enterprises, 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.

-15-

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

Percent change from preceding period

Seasonally adjusted at annual rates

Quarter
one year
ago Line

Quarterly rates

Line
2010

2011

2012

2011
2012
II

1 Corporate profits with inventory valuation and
capital consumption adjustments ..........................
2 Less: Taxes on corporate income ..................................
3 Equals: Profits after tax with inventory valuation
and capital consumption adjustments...................
4 Net dividends..............................................................
5 Undistributed profits with inventory valuation and
capital consumption adjustments ...........................
Addenda for corporate cash flow:
6 Net cash flow with inventory valuation adjustment
7
Undistributed profits with inventory valuation and
capital consumption adjustments........................
8
Consumption of fixed capital...................................
9
Less: Capital transfers paid (net)............................
Addenda:
10 Profits before tax (without inventory valuation and
capital consumption adjustments) ..........................
11 Profits after tax (without inventory valuation and
capital consumption adjustments) ..........................
12 Inventory valuation adjustment...................................
13 Capital consumption adjustment ................................

III

2012

2013
IV

2012

I

II

III

2013
IV

I

2013
II

II

1,740.6 1,877.7 2,009.5 1,998.4 2,012.3 2,047.2 2,020.6 2,098.9
370.6 374.2 434.8 429.7 439.1 433.2 408.2 418.7

7.9
1.0

7.0
16.2

0.7
2.2

1.7
–1.3

–1.3
–5.8

3.9
2.6

5.0
–2.6

1
2

1,370.0 1,503.5 1,574.7 1,568.7 1,573.2 1,614.0 1,612.3 1,680.2
563.9 701.6 770.3 739.6 746.7 867.6 763.8 1,037.6

9.7
24.4

4.7
9.8

0.3
1.0

2.6
16.2

–0.1
–12.0

4.2
35.9

7.1
40.3

3
4

642.6

–0.5

0.3

–0.3

–9.7

13.7

–24.3

–22.5

5

2,089.1 2,146.7 2,177.1 2,197.8 2,209.1 2,117.9 2,258.6 2,064.0

2.8

1.4

0.5

–4.1

6.6

–8.6

–6.1

6

806.0 801.9 804.3 829.1 826.5 746.4 848.5 642.6
–0.5
0.3
–0.3
–9.7
13.7 –24.3 –22.5
1,262.5 1,306.0 1,365.7 1,361.2 1,373.6 1,384.4 1,400.4 1,415.7
3.4
4.6
0.9
0.8
1.2
1.1
4.0
–20.6 –38.8
–7.1
–7.5
–9.0
12.9
–9.6
–5.7 ............ ............. ............ ............ ............. ............ ............

7
8
9

806.0

801.9

804.3

829.1

826.5

746.4

848.5

1,834.8 1,847.4 2,190.0 2,160.0 2,208.5 2,229.5 2,193.1 2,249.0

0.7

18.5

2.2

1.0

–1.6

2.6

4.1

10

1,464.3 1,473.1 1,755.2 1,730.3 1,769.4 1,796.4 1,784.8 1,830.4
0.6
19.1
2.3
1.5
–0.6
2.6
5.8
–41.0 –56.0 –10.0
9.8 –22.0
–8.4 –13.0
11.0 ............ ............. ............ ............ ............. ............ ............
–53.3
86.4 –170.5 –171.4 –174.2 –173.9 –159.5 –161.1 ............ ............. ............ ............ ............. ............ ............

11
12
13

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
Line

2012
2010

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

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 ..........................................................

2011

1,740.6 1,877.7
1,345.4 1,441.2
367.2
355.6
978.2 1,085.6
395.2
436.6
584.6
653.7
189.4
217.2

2012

2,009.5
1,590.5
422.0
1,168.5
418.9
665.9
247.0

2012
II

III

1,998.4
1,569.1
392.4
1,176.7
429.3
663.0
233.7

2,012.3
1,599.8
451.4
1,148.4
412.5
661.1
248.6

1,793.8 1,791.3 2,180.0 2,169.8 2,186.6
1,398.6 1,354.8 1,761.1 1,740.5 1,774.0
405.3
384.1
477.4
447.7
507.2
71.6
75.9
71.7
72.6
67.5
333.8
308.1
405.7
375.1
439.8
993.3
970.7 1,283.7 1,292.8 1,266.8
29.8
11.1
37.1
39.4
40.8
284.9
303.9
404.3
410.5
387.8
126.3
135.6
197.0
200.0
192.6
15.2
17.9
24.3
24.9
24.5
17.3
24.7
33.5
34.8
37.1
46.7
34.0
39.5
41.7
38.7
10.2
–10.3
47.2
158.6
45.8
24.7
64.4
23.7
102.2
118.3
44.6
94.7
318.7
395.2

5.2
–4.6
58.4
168.3
40.7
48.4
56.8
22.4
96.3
116.1
32.1
87.4
323.7
436.6

10.3
12.1
77.3
207.3
49.7
60.0
65.3
32.4
137.8
149.2
51.5
110.6
393.2
418.9

8.3
13.3
76.9
210.5
47.4
58.8
72.5
31.8
146.5
145.3
53.5
116.6
381.0
429.3

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

-16-

9.5
8.7
74.1
195.2
52.9
53.0
56.1
33.2
131.6
142.5
52.2
112.9
399.0
412.5

2013
IV

I

2011

2013

Line

2012

II

III

IV

I

II

2,098.9
1,686.8
446.0
1,240.7
412.1
657.6
245.5

137.1
95.8
–11.6
107.4
41.4
69.1
27.8

131.8
149.3
66.4
82.9
–17.7
12.2
29.8

13.9
30.7
59.0
–28.3
–16.8
–1.9
14.9

34.9
29.3
–15.6
45.0
5.6
16.1
10.5

–26.6
–7.0
–4.1
–3.1
–19.6
–19.7
–0.1

78.3
64.7
14.3
50.4
13.6
0.1
–13.5

1
2
3
4
5
6
7

2,221.1 2,180.0 2,260.0
1,803.0 1,781.5 1,847.9
492.1
486.9
501.8
73.3
70.0
68.8
418.7
416.9
433.0
1,310.9 1,294.6 1,346.2
33.6
38.3 ..............
410.1
389.7 ..............
195.3
186.7 ..............
23.7
23.5 ..............
29.5
24.6 ..............
36.6
35.1 ..............

–2.5
–43.8
–21.2
4.3
–25.7
–22.6
–18.7
19.0
9.3
2.7
7.4
–12.7

388.7
406.3
93.3
–4.2
97.6
313.0
26.0
100.4
61.4
6.4
8.8
5.5

16.8
33.5
59.5
–5.1
64.7
–26.0
1.4
–22.7
–7.4
–0.4
2.3
–3.0

34.5
29.0
–15.1
5.8
–21.1
44.1
–7.2
22.3
2.7
–0.8
–7.6
–2.1

–41.1
–21.5
–5.2
–3.3
–1.8
–16.3
4.7
–20.4
–8.6
–0.2
–4.9
–1.5

80.0
66.4
14.9
–1.2
16.1
51.6
..............
..............
..............
..............
..............
..............

8
9
10
11
12
13
14
15
16
17
18
19

–5.0
5.7
11.2
9.7
–5.1
23.7
–7.6
–1.3
–5.9
–2.2
–12.5
–7.3
5.0
41.4

5.1
16.7
18.9
39.0
9.0
11.6
8.5
10.0
41.5
33.1
19.4
23.2
69.5
–17.7

1.2
–4.6
–2.8
–15.3
5.5
–5.8
–16.4
1.4
–14.9
–2.8
–1.3
–3.7
18.0
–16.8

2.7
4.7
5.7
19.6
–4.9
16.1
7.9
0.4
12.8
16.5
–5.1
–10.4
15.2
5.6

–1.4
–3.5
2.9
–11.8
1.3
–11.7
–0.6
–0.7
5.8
–10.1
7.4
21.7
–25.3
–19.6

..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
13.6

20
21
22
23
24
25
26
27
28
29
30
31
32
33

2,047.2 2,020.6
1,629.1 1,622.1
435.8
431.7
1,193.4 1,190.3
418.1
398.5
677.2
657.5
259.1
259.0

12.2
13.4
79.8
214.8
48.0
69.1
64.0
33.6
144.4
159.0
47.1
102.5
414.2
418.1

10.8
9.9
82.7
203.0
49.3
57.4
63.4
32.9
150.2
148.9
54.5
124.2
388.9
398.5

..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
412.1

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

2010

2011

2012

2012
II

2013

III

IV

I

r

Line
II

Billions of dollars
1
Gross value added of nonfinancial corporate business .................
2 Consumption of fixed capital.........................................................................
3 Net value added ..........................................................................................
4 Compensation of employees ....................................................................
5
Wages and salaries...............................................................................
6
Supplements to wages and salaries .....................................................
7 Taxes on production and imports less subsidies.......................................
8 Net operating surplus................................................................................
9
Net interest and miscellaneous payments ............................................
10
Business current transfer payments (net) .............................................
11
Corporate profits with inventory valuation and capital consumption
adjustments.......................................................................................
12
Taxes on corporate income ...............................................................
13
Profits after tax with inventory valuation and capital consumption
adjustments ...................................................................................
14
Net dividends.................................................................................
15
Undistributed profits with inventory valuation and capital
consumption adjustments ..........................................................
Addenda:
16 Profits before tax (without inventory valuation and capital consumption
adjustments) .........................................................................................
17 Profits after tax (without inventory valuation and capital consumption
adjustments) .........................................................................................
18 Inventory valuation adjustment .................................................................
19 Capital consumption adjustment...............................................................

7,243.1
1,094.6
6,148.6
4,168.0
3,446.1
721.9
633.0
1,347.5
286.2
83.2

7,636.4
1,135.8
6,500.6
4,374.3
3,624.7
749.6
664.2
1,462.1
287.2
89.3

8,030.8
1,188.2
6,842.7
4,600.8
3,824.8
776.0
685.3
1,556.5
295.5
92.5

8,007.0
1,184.1
6,822.9
4,570.5
3,799.9
770.6
684.8
1,567.6
294.7
96.3

8,002.9
1,195.2
6,807.7
4,589.1
3,815.2
773.9
683.2
1,535.3
297.2
89.7

8,163.8
1,204.7
6,959.1
4,694.5
3,901.7
792.8
687.6
1,577.0
299.3
84.3

8,163.4
1,218.5
6,944.9
4,654.7
3,869.1
785.6
697.3
1,593.0
322.5
80.1

8,253.9
1,231.5
7,022.4
4,698.2
3,908.3
790.0
696.5
1,627.7
304.3
82.7

1
2
3
4
5
6
7
8
9
10

978.2
220.6

1,085.6
222.3

1,168.5
256.9

1,176.7
257.8

1,148.4
249.1

1,193.4
268.4

1,190.3
266.6

1,240.7
266.7

11
12

757.6
375.5

863.3
440.3

911.6
478.8

918.9
457.5

899.4
461.2

925.0
540.4

923.7
483.3

974.0
652.2

13
14

382.1

423.0

432.8

461.4

438.1

384.6

440.5

321.8

15

1,034.3

1,026.7

1,293.7

1,282.9

1,288.8

1,319.4

1,307.7

1,335.2

16

813.8
–41.0
–15.2

804.4
–56.0
114.9

1,036.8
–10.0
–115.1

1,025.1
9.8
–116.1

1,039.7
–22.0
–118.4

1,051.0
–8.4
–117.6

1,041.1
–13.0
–104.3

1,068.5
11.0
–105.4

17
18
19

7,740.1
1,132.3
6,607.8

7,701.5
1,139.4
6,562.2

7,821.0
1,147.1
6,673.9

7,795.6
1,156.0
6,639.6

7,886.8
1,164.7
6,722.1

20
21
22

Billions of chained (2009) dollars
20
Gross value added of nonfinancial corporate business 1 ...............
21 Consumption of fixed capital 2 ......................................................................
22 Net value added 3 .........................................................................................

7,244.4
1,093.5
6,151.0

7,464.6
1,110.1
6,354.5

7,743.2
1,136.0
6,607.1

Dollars; quarters seasonally adjusted

23
24
25
26
27
28
29
30
31

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.......................................................................................

1.000
0.575
0.290
0.151

1.023
0.586
0.291
0.152

1.037
0.594
0.291
0.153

1.034
0.590
0.292
0.153

1.039
0.596
0.294
0.155

1.044
0.600
0.291
0.154

1.047
0.597
0.297
0.156

1.047
0.596
0.294
0.156

23
24
25
26

0.099
0.040

0.101
0.038

0.100
0.038

0.101
0.038

0.100
0.039

0.099
0.038

0.100
0.041

0.099
0.039

27
28

0.135
0.030

0.145
0.030

0.151
0.033

0.152
0.033

0.149
0.032

0.153
0.034

0.153
0.034

0.157
0.034

29
30

0.105

0.116

0.118

0.119

0.117

0.118

0.118

0.124

31

r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2013.
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 2009 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).

-17-

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

2010 2011 2012

2009
III

2010
IV

I

II

2011
III

IV

I

II

2012
III

IV

1.4
–0.3
1.3
9.5
11.0
1.1
–2.8
1.4
1.1
1.4
6.6
1.7

4.9
15.5
–0.2
8.4
25.4
4.4
44.3
4.7
–0.3
5.0
43.0
5.9

I

II

2013
III

IV

I

Line
II

r

Percent change from preceding period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

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 ..........................
Research and development .............................................
GDP excluding research and development......................
Farm gross value added 2 ................................................
Nonfarm business gross value added 3 ...........................
Price indexes:
GDP .................................................................................
GDP excluding food and energy 4 ....................................
GDP excluding final sales of computers ..........................
Gross domestic purchases...............................................
Gross domestic purchases excluding food and energy 4
Gross domestic purchases excluding final sales of
computers to domestic purchasers ..............................
Personal consumption expenditures (PCE) .....................
PCE excluding food and energy 4 ....................................
Market-based PCE 5 ........................................................
Market-based PCE excluding food and energy 5 .............

2.5
8.6
1.1
–7.8
30.2
2.0
–4.5
2.5
1.9
2.5
1.5
3.2

1.8
4.3
1.1
–1.7
10.1
1.7
10.2
1.8
1.3
1.9
–5.1
2.5

2.8
1.3
3.9
1.6
3.9
2.8
2.8 –1.3
3.2
5.1
4.0 16.4 10.4
4.7
9.7
6.0 –0.9
5.9
1.2
0.8
1.2
0.1
2.0
1.7
1.6
0.2
1.5
7.3 –4.0 –15.2 –16.7 18.3 –13.8
0.5 –15.3
8.2
13.2 123.8 16.3 36.8 18.0 24.1 –13.2 31.5 –5.2
2.5 –0.1
3.7
0.9
3.6
2.3
3.2 –2.0
3.4
12.9 –18.9 –13.1 27.5 –27.2 –8.0 34.6 22.6
0.5
2.7
1.4
4.0
1.5
4.1
2.8
2.7 –1.4
3.2
–0.3
0.1
3.9
1.1 –1.0
5.7
2.2 –0.1
1.0
2.9
1.3
3.9
1.6
4.0
2.7
2.8 –1.3
3.2
–1.1 68.0 –16.8 –16.9 29.8 –1.2 –25.6 12.1 –31.3
3.7
0.8
5.0
2.1
4.7
4.2
4.2 –2.1
4.7

3.7
1.2
2.8
0.1
1.1
2.5
5.6
0.6
4.8 –1.2
5.5
5.0
2.4
1.1
1.6 –0.6
0.3
0.6
7.3
4.5
4.7 12.7 –9.2
9.1
28.4
6.3
0.2 –2.8
9.2 11.5
3.1
1.1
2.9
0.2
0.9
2.3
35.0 –21.7
0.9 50.3 17.5 17.4
3.6
1.3
2.8
0.0
1.1
2.5
–1.1 –2.2
1.7
0.4 –0.2 –0.2
3.8
1.3
2.8
0.1
1.2
2.6
–3.0
5.1 –30.8 –27.0 179.6 –14.0
5.0
1.6
4.1
0.7 –0.3
3.7

1
2
3
4
5
6
7
8
9
10
11
12

1.2
1.4
1.3
1.5
1.3

2.0
1.8
2.0
2.3
1.7

1.7
1.7
1.8
1.7
1.6

0.0
0.6
0.1
1.3
0.3

1.2
1.9
1.2
2.2
1.8

1.3
1.7
1.4
1.8
1.5

1.9
1.6
1.9
1.0
1.4

1.8
1.3
1.9
1.3
1.1

2.1
1.7
2.1
2.3
1.4

1.6
1.9
1.7
2.8
1.8

2.6
2.6
2.7
3.5
2.6

2.5
1.9
2.5
2.0
1.8

0.5
0.9
0.5
0.9
1.0

2.0
2.4
2.0
2.3
2.2

1.8
1.5
1.8
1.0
1.5

2.3
1.3
2.3
1.4
1.2

1.1
1.4
1.2
1.6
1.3

1.3
1.6
1.4
1.2
1.4

0.8
1.1
0.8
0.3
0.9

13
14
15
16
17

1.6
1.7
1.3
1.5
1.0

2.4
2.4
1.4
2.5
1.4

1.7
1.8
1.8
1.8
1.8

1.4
2.5
1.1
2.7
1.1

2.3
2.8
2.1
2.4
1.6

1.8
1.4
1.0
1.1
0.7

1.0
0.5
1.1
0.2
0.8

1.3
1.2
1.0
1.1
0.8

2.3
2.1
0.8
2.1
0.6

3.0
3.0
1.3
3.4
1.5

3.6
3.7
2.2
4.0
2.3

2.1
2.3
2.0
2.4
2.1

0.9
1.3
1.6
1.3
1.6

2.3
2.3
2.2
2.3
2.2

1.0
1.1
1.8
0.9
1.7

1.4
1.7
1.4
1.6
1.3

1.6
1.6
1.3
1.4
0.9

1.3
1.1
1.4
1.3
1.6

0.4
0.0
0.8
–0.3
0.6

18
19
20
21
22

2.8

0.1

1.1

2.5

23

1.46 –0.36 1.63
1.00 –0.35 0.21
0.32 0.85 –0.70
0.01 –0.07 0.24
0.00 0.16 0.07
0.04 0.01 0.00

1.50
0.37
0.64
0.30
0.07
0.00

24
25
26
27
28
29

Contributions to percent change in real gross domestic product

23
24
25
26
27
28
29

Percent change at annual rate:
Gross domestic product ............................................
2.5
1.8
2.8
1.3
3.9
1.6
3.9
2.8
2.8 –1.3
3.2
1.4
4.9
3.7
1.2
Percentage points at annual rates:
Goods .................................................................................. 2.39 1.26 1.53 1.06 4.37 2.90 1.40 2.74 1.74 –0.31 1.71 –0.10 4.43 1.72 0.22
Services ............................................................................... 0.72 0.70 0.76 0.52 0.75 0.02 1.30 1.09 1.03 0.13 0.95 0.85 –0.12 1.50 0.69
Structures ............................................................................ –0.61 –0.12 0.49 –0.29 –1.24 –1.33 1.20 –1.05 0.04 –1.11 0.53 0.62 0.56 0.49 0.30
Motor vehicle output............................................................. 0.53 0.23 0.32 1.38 0.30 0.67 0.38 0.50 –0.32 0.63 –0.13 0.25 0.57 0.66 0.17
Final sales of computers...................................................... –0.02 0.04 0.05 –0.10 –0.06 0.11 –0.14 –0.03 0.12 0.09 0.01 –0.01 0.15 0.13 –0.11
Research and development ................................................. 0.05 0.04 –0.01 0.00 0.10 0.03 –0.03 0.14 0.06 0.00 0.03 0.03 –0.01 –0.03 –0.06

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. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
5. 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.

-18-

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 2009 -- 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 2008-09
annual percent change in real GDP uses prices for 2008 and 2009 as weights, and the 2008-09 annual
percent change in GDP prices uses quantities for 2008 and 2009 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 (2009) dollar estimates." For most series, these estimates, which are presented in
table 3, are computed by multiplying the current-dollar value in 2009 by a corresponding quantity index
number and then dividing by 100. For example, if a current-dollar GDP component equaled $100 in 2009
and if real output for this component increased 10 percent in 2010, then the chained (2009) dollar value of
this component in 2010 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.

-19-