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Release Date: March 25, 2021

Paycheck Protection Program Subsidies by Industry in the National Accounts, 2020Q4
(Billions of dollars, seasonally adjusted at annual rates)

Line
1 Total Paycheck Protection Program Subsidies to Private Industries
2
Agriculture, forestry, fishing, and hunting
3
Mining
4
Utilities
5
Construction
6
Manufacturing
7
Durable goods
8
Nondurable goods
9
Wholesale trade
10
Retail trade
11
Transportation and warehousing
12
Information
13
Finance and insurance
14
Real estate and rental and leasing
15
Professional, scientific, and technical services
16
Management of companies and enterprises
17
Administrative and waste management services
18
Educational services
19
Health care and social assistance
20
Arts, entertainment, and recreation
21
Accommodation and food services
22
Other services, except government

1

Q2
609.3
10.2
5.9
1.8
83.5
69.8
47.5
22.3
35.8
52.1
22
11.6
15.6
20
84.1
2
33.9
5.6
67.6
7.9
54.4
25.4

Levels
2020
Q3
865.6
14.5
8.3
2.6
118.6
99.1
67.4
31.7
50.8
74.0
31.3
16.4
22.2
28.4
119.5
2.9
48.1
8.0
96.1
11.2
77.3
36.1

Q4
260.3
4.4
2.5
0.8
35.7
29.8
20.3
9.5
15.3
22.3
9.4
4.9
6.7
8.5
35.9
0.9
14.5
2.4
28.9
3.4
23.3
10.8

1. The Coronavirus Aid, Relief, and Economic Security Act (CARES) authorized funding for loans to help small businesses and nonprofit
institutions cover payroll and other operational expenses. BEA used data from the Small Business Administration to allocate
the forgivable portion of the business loans across industries. For more information, see "How does the Paycheck Protection
Program of 2020 impact the national income and product accounts (NIPAs)?".
NOTE: For national statistics, BEA publishes levels and changes at an annualized rate. To be consistent, the figures in this table
also are annualized. For more information, see the FAQ "Why does BEA publish estimates at annual rates?" on BEA's website.
Data on this table will be superseded by updated estimates.
Source: U.S. Bureau of Economic Analysis

Change from preceding quarter
2020
Q3
Q4
256.3
-605.3
4.3
-10.1
2.5
-5.8
0.8
-1.8
35.1
-83.0
29.4
-69.3
20
-47.2
9.4
-22.2
15
-35.5
21.9
-51.8
9.3
-21.9
4.9
-11.5
6.6
-15.5
8.4
-19.9
35.4
-83.6
0.9
-2.0
14.3
-33.7
2.4
-5.6
28.5
-67.2
3.3
-7.9
22.9
-54.1
10.7
-25.2

Release Date: March 25, 2021

Paycheck Protection Program Subsidies by Industry in the National Accounts, 2020
(Billions of dollars, seasonally adjusted at annual rates)

Line

1
1 Total Paycheck Protection Program Subsidies to Private Industries
2
Agriculture, forestry, fishing, and hunting
3
Mining
4
Utilities
5
Construction
6
Manufacturing
7
Durable goods
8
Nondurable goods
9
Wholesale trade
10
Retail trade
11
Transportation and warehousing
12
Information
13
Finance and insurance
14
Real estate and rental and leasing
15
Professional, scientific, and technical services
16
Management of companies and enterprises
17
Administrative and waste management services
18
Educational services
19
Health care and social assistance
20
Arts, entertainment, and recreation
21
Accommodation and food services
22
Other services, except government

Levels
2019

2018
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...

2020
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...

433.8
7.3
4.2
1.3
59.4
49.7
33.8
15.9
25.5
37.1
15.7
8.2
11.1
14.2
59.9
1.4
24.1
4.0
48.2
5.6
38.8
18.1

1. The Coronavirus Aid, Relief, and Economic Security Act (CARES) authorized funding for loans to help small businesses and nonprofit
institutions cover payroll and other operational expenses. BEA used data from the Small Business Administration to allocate
the forgivable portion of the business loans across industries. For more information, see "How does the Paycheck Protection
Program of 2020 impact the national income and product accounts (NIPAs)?".
NOTE: For national statistics, BEA publishes levels and changes at an annualized rate. To be consistent, the figures in this table
also are annualized. For more information, see the FAQ "Why does BEA publish estimates at annual rates?" on BEA's website.
Data on this table will be superseded by updated estimates.
Source: U.S. Bureau of Economic Analysis

Change from preceding quarter
2019
2020
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...

433.8
7.3
4.2
1.3
59.4
49.7
33.8
15.9
25.5
37.1
15.7
8.2
11.1
14.2
59.9
1.4
24.1
4.0
48.2
5.6
38.8
18.1