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NEWS RELEASE EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, JULY 31, 2009 Lisa S. Mataloni: Recorded message: (202) 606-5304 (GDP) (202) 606-5306 Brent Moulton: Carol Moylan: (202) 606-9606 (Revision) (202) 606-9711 BEA 09-33 NATIONAL INCOME AND PRODUCT ACCOUNTS GROSS DOMESTIC PRODUCT: SECOND QUARTER 2009 (ADVANCE ESTIMATE) COMPREHENSIVE REVISION: 1929 THROUGH FIRST QUARTER 2009 Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 1.0 percent in the second quarter of 2009, (that is, from the first quarter to the second), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 6.4 percent. The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 3). The "second" estimate for the second quarter, based on more complete data, will be released on August 27, 2009. The estimates released today reflect the results of the comprehensive (or benchmark) revision of the national income and product accounts (NIPAs). More information on the revision is available on BEA’s Web site at www.bea.gov/national/an1.htm, including links to an article in the March 2009 issue of the Survey of Current Business that discussed the changes in definitions and presentation that have been implemented in the revision and to an article in the May Survey that described the changes in statistical methods. The September Survey will contain an article that describes the results of the revision in detail. The Web site also contains FAQs and other information about the revision. NOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent changes are calculated from unrounded data and are annualized. “Real” estimates are in chained (2005) dollars. Price indexes are chain-type measures. This news release is available on BEA’s Web site along with the Technical Note and Highlights related to this release. - more - -2The decrease in real GDP in the second quarter primarily reflected negative contributions from nonresidential fixed investment, personal consumption expenditures (PCE), residential fixed investment, private inventory investment, and exports that were partly offset by positive contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, decreased. The much smaller decrease in real GDP in the second quarter than in the first primarily reflected much smaller decreases in nonresidential fixed investment, in exports, and in private inventory investment, upturns in federal government spending and in state and local government spending, and a smaller decrease in residential fixed investment that were partly offset by a much smaller decrease in imports and a downturn in PCE. Motor vehicle output added 0.20 percentage point to the second-quarter change in real GDP after subtracting 1.69 percentage points from the first-quarter change. Final sales of computers subtracted 0.04 percentage point from the second-quarter change in real GDP after adding 0.06 percentage point to the first-quarter change. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 0.7 percent in the second quarter, in contrast to a decrease of 1.4 percent in the first. Excluding food and energy prices, the price index for gross domestic purchases increased 1.1 percent in the second quarter, compared with an increase of 0.2 percent in the first. Real personal consumption expenditures decreased 1.2 percent in the second quarter, in contrast to an increase of 0.6 percent in the first. Durable goods decreased 7.1 percent, in contrast to an increase of 3.9 percent. Nondurable goods decreased 2.5 percent, in contrast to an increase of 1.9 percent. Services increased 0.1 percent, in contrast to a decrease of 0.3 percent. Real nonresidential fixed investment decreased 8.9 percent in the second quarter, compared with a decrease of 39.2 percent in the first. Nonresidential structures decreased 8.9 percent, compared with a decrease of 43.6 percent. Equipment and software decreased 9.0 percent, compared with a decrease of 36.4 percent. Real residential fixed investment decreased 29.3 percent, compared with a decrease of 38.2 percent. Real exports of goods and services decreased 7.0 percent in the second quarter, compared with a decrease of 29.9 percent in the first. Real imports of goods and services decreased 15.1 percent, compared with a decrease of 36.4 percent. Real federal government consumption expenditures and gross investment increased 10.9 percent in the second quarter, in contrast to a decrease of 4.3 percent in the first. National defense increased 13.3 percent, in contrast to a decrease of 5.1 percent. Nondefense increased 6.0 percent, in contrast to a decrease of 2.5 percent. Real state and local government consumption expenditures and gross investment increased 2.4 percent, in contrast to a decrease of 1.5 percent. The change in real private inventories subtracted 0.83 percentage point from the second-quarter change in real GDP after subtracting 2.36 percentage points from the first-quarter change. Private businesses decreased inventories $141.1 billion in the second quarter, following decreases of $113.9 billion in the first quarter and of $37.4 billion in the fourth. - more - -3Real final sales of domestic product -- GDP less change in private inventories -- decreased 0.2 percent in the second quarter, compared with a decrease of 4.1 percent in the first. Gross domestic purchases Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- decreased 2.3 percent in the second quarter, compared with a decrease of 8.6 percent in the first. Disposition of personal income Current-dollar personal income increased $8.0 billion (0.3 percent) in the second quarter, in contrast to a decrease of $251.7 billion (8.0 percent) in the first. Personal current taxes decreased $113.1 billion in the second quarter, compared with a decrease of $241.7 billion in the first. Disposable personal income increased $121.1 billion (4.6 percent) in the second quarter, in contrast to a decrease of $9.9 billion (0.4 percent) in the first. Real disposable personal income increased 3.2 percent, compared with an increase of 1.1 percent. Personal outlays decreased $18.1 billion (0.7 percent) in the second quarter, compared with a decrease of $27.6 billion (1.1 percent) in the first. Personal saving -- disposable personal income less personal outlays -- was $566.0 billion in the second quarter, compared with $426.9 billion in the first. The personal saving rate -- saving as a percentage of disposable personal income -- was 5.2 percent in the second quarter, compared with 4.0 percent in the first. For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/NipaFrb.asp. Current-dollar GDP Current-dollar GDP -- the market value of the nation's output of goods and services -- decreased 0.8 percent, or $28.2 billion, in the second quarter to a level of $14,149.8 billion. In the first quarter, current-dollar GDP decreased 4.6 percent, or $169.3 billion. Information on the assumptions used for unavailable source data is provided in a technical note that is posted with the news release on BEA's Web site. Within a few days after the release, a detailed "Key Source Data and Assumptions" file is posted on the Web site. In the middle of each month, an analysis of the current quarterly estimate of GDP and related series is made available on the Web site; click on Survey of Current Business, "GDP and the Economy." - more - -4COMPREHENSIVE REVISION OF THE NATIONAL INCOME AND PRODUCT ACCOUNTS: 1929 THROUGH FIRST QUARTER 2009 Today, BEA is releasing revised statistics of gross domestic product (GDP) and other national income and product accounts (NIPAs) series from 1929 through the first quarter of 2009. Comprehensive revisions, which are carried out about every 5 years, are an important part of BEA’s regular process for improving and modernizing its accounts to keep pace with the ever-changing U.S. economy. Most of the tables in this release present revised statistics beginning with 1998. Statistics beginning with 1995 for selected NIPA tables are available on the BEA Web site (<www.bea.gov>). In addition, a limited number of revised historical statistics of total GDP and its components from 1929 forward are available on the BEA Web site. The complete historical time period for these selected NIPA tables will be released later in August. An article describing the statistics will be published in the September 2009 issue of BEA’s monthly journal, the Survey of Current Business. The picture of the economy shown in the revised estimates is very similar in broad outline to the picture shown in the previously published estimates. The similarity and some of the differences in detail can be seen in the following: • For 1929-2008, the average annual growth rate of real GDP is 3.4 percent, 0.1 percentage point higher than in the previously published estimates. For the more recent period, 1997-2008, the growth rate is 2.8 percent, also 0.1 percentage point higher than in the previously published estimates. • For 1997-2008, the average rate of change in the prices paid by U.S. residents is the same as in the previously published estimates (2.4 percent). • In the revised estimates, real GDP increased 0.4 percent for 2008; in the previously published estimates, real GDP had increased 1.1 percent. • From the fourth quarter of 2007 to the first quarter of 2009, real GDP decreased 2.8 percent at an average annual rate; in the previously published estimates, it had decreased 1.8 percent. Improvements incorporated in this comprehensive revision Comprehensive revisions incorporate three major types of improvements: • Changes in definitions and classifications that update the accounts to more accurately portray the evolving U.S. economy, • Changes in presentation that make the NIPA tables more informative and easier to use, and • Statistical changes that introduce new and improved methodologies and that bring in newly available and revised source data. - more - -5- The improvements incorporated in the revised estimates have been previewed in a series of articles in the Survey and are available on BEA’s Web site at http://www.bea.gov/national/an1.htm. Changes in definitions, classifications, and presentations. The changes in definitions, classifications, and presentations introduced in this comprehensive revision include the following: • A new classification system for personal consumption expenditures (PCE) is adopted that reflects contemporary spending patterns and presents categories that are more useful for the analysis of spending by households and nonprofit institutions. The new classification system for PCE results in a redesign of a large number of NIPA tables. • The treatment of disasters is changed to better reflect the distinctions between current transactions, capital transactions, and events that directly affect balance sheets. Under the new treatment, disaster-related damages to fixed assets are recorded as “other changes in the volume of assets,” and disaster-related insurance payouts are recorded as capital transfers. • The reference year for the chain-type quantity and price indexes and for the chained-dollar estimates is updated from 2000 to 2005. • The terminology used to describe the vintages of the current quarterly GDP estimates is changed. The three vintages of quarterly GDP estimates are renamed “advance” (no change); “second” (currently known as “preliminary”); and “third” (currently known as “final”). Because the composition of the components of PCE (durable goods, nondurable goods, and services) changed as part of the new classification system for PCE, comparisons of the revised estimates for components of PCE with the previously published estimates are not meaningful and therefore are not shown in this release. Statistical changes. Several important statistical changes that introduce new and improved methodologies and that bring in newly available source data include the following: • The new estimates incorporate BEA’s 2002 benchmark input-output (I-O) accounts, which provide the most thorough and detailed information on the structure of the U.S. economy. These accounts are used to benchmark the expenditure components of gross domestic product (GDP) and some of the income components. • The estimates of proprietors’ income and private wages and salaries are improved by updating adjustments for the underreporting and nonreporting of income using more recent data from the Internal Revenue Service (IRS) and the Census Bureau that were not available for the previous benchmark. • The estimates of wages and salaries are improved by incorporating new information on employee cafeteria plans. A table that summarizes the major sources of revisions to selected components of the NIPAs is available on BEA’s Web site at http://www.bea.gov/national/an1.htm. - more - -6- News release tables. This release includes the tables that will be regularly shown in future GDP news releases; in addition, special tables have been included to highlight the effects of the comprehensive revision. The special tables are: • Tables 1A, 2A, and 4A, which compare revised and previously published estimates for percent changes in real GDP, contributions to percent change in real GDP, and percent changes in chaintype price indexes for GDP and related measures, respectively; • Tables 7A, 7B, and 7C, which show annual levels, percent changes, and revisions to percent changes for current-dollar GDP, for real (chained-dollar) GDP, and for chain-type price indexes for GDP, respectively; • Table 12C, which shows revisions to corporate profits by industry. Most of the tables show annual estimates beginning with 1998; quarterly estimates (if shown) begin with the first quarter of 2004. Three of the regular tables -- tables 3, 11, and 12 -- are split into A and B segments in this release to accommodate this longer-than-usual time span. Selected NIPA tables that show estimates beginning with 1995 forward are available on BEA’s Web site. In addition, a limited number of revised historical statistics for total GDP and its components from 1929 forward (for tables 1.1.1 through 1.1.10; except table 1.1.6 A, B, C, and D) is also available on BEA’s Web site. The complete historical statistics for these selected tables will be available later in August. - more - -7- New and revised source data The revised estimates also reflect the incorporation of newly available and revised source data. The most important source data that affect the estimates prior to 2006 are BEA’s benchmark 2002 input-output (I-O) accounts. The revised estimates also incorporate data on inventories, on receipts and expenses of business establishments and of governments, on sales by detailed commodity and by product line, and on final industry and product shipments from the 2002 Economic Census, and on trade margins from both the 2002 Economic Census and the 2002 annual surveys of merchant wholesale and retail trade. The new estimates also reflect data on housing from the 2000 decennial Census of Housing and the 2001 Residential Finance Survey. In addition, estimates that are based on BEA’s international transactions accounts (ITAs) -- primarily net exports of goods and services and rest-of-the-world income receipts and payments -- were revised to reflect improvements to the ITAs that were introduced since 2003. Estimates of nonreported income were updated using newly available data from the Census Bureau’s 2003-2007 “exact-match” studies, and estimates of underreported income were revised using data from the IRS National Research Program data from 2001 and from the IRS Taxpayer Compliance Measurement Program reports from 1988 and 1996. Other data that were incorporated include revised data on the expenditures and receipts of state and local governments for fiscal years 2001-2005 from the Census Bureau, and final data on employer pension and profit-sharing plans for 1996-2006 from the Department of Labor. The revised estimates for 2006-2008 also reflect the incorporation of newly available and revised source data that became available after the last annual NIPA revision in July 2008. The most important of these data sources are Census Bureau annual surveys of state and local governments for fiscal year 2006 (revised) and fiscal year 2007 (preliminary), of manufacturers for 2006 (revised), of merchant wholesale trade and of retail trade for 2006 (revised) and 2007 (preliminary), and of services and of construction spending (value put in place) for 2006 and 2007 (revised) and 2008 (preliminary); preliminary economic census “advance summary statistics” shipments and inventories for 2007; federal government budget data for fiscal years 2008 and 2009; ITA data for 2006-2008 (revised); Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages (QCEW) for 2006-2008 (revised); IRS tabulations of corporate tax returns for 2006 (revised) and 2007 (preliminary) and of sole proprietorship and partnership tax returns for 2007; and U.S. Department of Agriculture (USDA) farm statistics for 2006-2008 (revised). - more - -8The revisions For this comprehensive revision, the most notable revisions are generally limited to the period from 1997 to the first quarter of 2009. The revisions for earlier periods tend to be small. Real GDP growth. For 1929-2008, the average annual growth rate of real GDP is 3.4 percent, 0.1 percentage point higher than in the previously published estimates. For the more recent period, 1997-2008, the growth rate is 2.8 percent, also 0.1 percentage point higher than in the previously published estimates. Beginning with 1997, nonresidential fixed investment, personal consumption expenditures, and federal government consumption expenditures and gross investment grew at a somewhat faster rate in the revised estimates, while exports and state and local government consumption expenditures and gross investment grew at a somewhat slower rate, and residential fixed investment fell at a faster rate. For 1929-1997, the year-to-year real GDP growth rate is unrevised for 50 of 67 years. The largest upward revision before 1998 is 0.2 percentage point for 1993; the largest downward revision before 1998 is 0.2 percentage point for 1987. For the 1997-2008 period, the revisions show a mixed pattern. The largest upward revision is 0.4 percentage point for 2000; upward revisions of 0.3 percentage point are recorded for 1999 and 2001; and upward revisions of 0.2 percentage point are recorded for 1998, 2002, and 2005. For the 3 most recent years, the growth rate is revised as follows: • • • down from 2.8 percent to 2.7 percent for 2006 up from 2.0 percent to 2.1 percent for 2007, and down from 1.1 percent to 0.4 percent for 2008. Business cycles. From the fourth quarter of 2007 to the first quarter of 2009, real GDP decreased at an average annual rate of 2.8 percent; in the previously published estimates, it had decreased 1.8 percent. In the revised estimates, real GDP decreased in the first, third, and fourth quarters of 2008, and in the first quarter of 2009. For the expansion from the third quarter of 2001 to the fourth quarter of 2007, real GDP increased at an average annual rate of 2.7 percent; in the previously published estimates, it had increased 2.6 percent. For the contraction that lasted from the fourth quarter of 2000 to the third quarter of 2001, real GDP increased at an average annual rate of 0.1 percent in the revised estimates; in the previously published estimates, it had decreased by 0.2 percent. Earlier business cycles show little revision. Price changes. For 1929-2008 and for 1997-2008, the average annual increases in the price indexes for gross domestic purchases and for GDP are unrevised. For 1929-2008, the average annual increase in the price index for gross domestic purchases is 3.0 percent; the average annual increase in the price index for GDP is 3.0 percent. For 1997-2008, the average annual increase in the price index for gross domestic purchases is 2.4 percent; the average annual increase in the price index for GDP is 2.3 percent. - more - -9Real disposable personal income (DPI) growth. For 1929-2008, the average annual increase in real DPI is 3.3 percent, 0.1 percentage point higher than in the previously published estimates. For 1997-2008, the average annual increase in real DPI is 3.1 percent; also 0.1 percentage point higher than in the previously published estimates. Personal saving. Personal saving (DPI less personal outlays) is revised up for 1997-2008; the upward revisions are more notable after 2001. Both DPI and personal outlays are revised up for 19972008; personal saving is revised up because the magnitudes of the upward revisions to DPI are larger than those to personal outlays. The personal saving rate (personal saving as a percentage of DPI) is also revised up for 1997-2008. The pattern of revisions to the personal saving rate generally follows the pattern of revisions to personal saving. Revisions to current-dollar estimates The revisions to current-dollar GDP, to personal income and its disposition, and to national income are shown in table 1B. These tables show the “revisions in level,” that is, the revised estimates less the previously published estimates; table 1B also shows the revisions as a percent of the previously published estimates for selected years. The revised levels of annual GDP and its major components for 1959-2008, along with percent changes from the preceding year and revisions to the percent changes, are shown in table 7A. GDP. The revisions to current-dollar GDP are small through 1991; for 1992-1997, the revisions are small and upward. The revisions for 1980-1997 generally follow the pattern of revisions to personal consumption expenditures (PCE). For 1998-2007, the revisions are upward and grow over time. For 2008, the revision is also upward. The upward revisions to GDP for 1998-2008 reflect upward revisions to PCE, to private fixed investment (for 1998 forward), to state and local government consumption expenditures and gross investment (through 2007), and to federal government consumption expenditures and gross investment (for 2008). PCE. The new classification system does not, by itself, affect the overall level of current-dollar PCE (see table on the next page). The revisions to total current-dollar PCE reflect only statistical changes (the incorporation of new source data and methodologies). The new classification system, however, does shift the composition of PCE, resulting in a substantial upward revision to PCE for services, mainly reflecting the reclassification of “purchased meals and beverages” (restaurant meals) from nondurable goods to services. The new classification system also results in an upward revision to durable goods, reflecting the reclassification of luggage (from nondurable goods) and eye examinations (from services to durable goods). These reclassifications are exactly offsetting, and, as a result, the new classification system for PCE does not by itself revise the level of total current-dollar PCE. As noted above, comparisons of the revised estimates for components of PCE (durable goods, nondurable goods, and services) with the previously published estimates are not shown in the news release tables because the composition of these components changed as part of the new classification system. - more - - 10 - Revision Analysis for PCE, 2005 (Billions of current dollars) Total Revision 124.9 Due to classificational change PCE by type of product Goods Durable goods Nondurable goods Services 0.0 -451.4 41.3 -492.8 451.4 Due to statistical change PCE by type of product Goods Durable goods Nondurable goods Services 124.9 -9.5 43.4 -52.9 134.4 Statistical changes result in notable revisions to total PCE for 1997-2008. PCE for housing and utilities services is revised up, reflecting new data on owner-occupied nonfarm housing from the 2001 Residential Finance Survey and the 2000 Census of Housing. The incorporation of the 2002 benchmark I-O accounts causes upward revisions to financial services, to air transportation services, and to services from nonprofit higher education and religious organizations, and in downward revisions to health care services and to food services and accommodations. The incorporation of the 2002 I-O accounts also results in upward revisions to several categories of PCE durable goods and in downward revisions to several categories of PCE nondurable goods. Statistical changes affecting the revisions for 2006-2008 also reflect Census Bureau data on retail trade for 2006 (revised) and 2007 (preliminary), and on services for 2006 and 2007 (revised) and 2008 (preliminary). Private fixed investment. Upward revisions to private fixed investment begin with 1998 and grow larger over time. The upward revisions mainly reflect upward revisions to equipment and software. The upward revisions to nonresidential structures for 1999 forward also start small and tend to grow larger. Private fixed investment in residential structures is revised up for 1998-2006 and revised down for 2007 and 2008. Nonresidential structures. The upward revisions for 1999-2008 primarily reflect the incorporation of data from the 2002 I-O accounts, revisions to Census Bureau estimates of construction spending (value put in place), and upward revisions to petroleum structures for 2003-2008 that result from the use of revised footage drilled and expenditure data from both the Census Bureau and a trade source. - more - - 11 Equipment and software. The upward revisions to equipment and software are mainly accounted for by software, transportation equipment, and other equipment. The upward revisions to software reflect the incorporation of data from the 2002 I-O accounts, and, in later years, new and revised data from the Census Bureau service annual survey. The upward revisions to transportation equipment reflect the incorporation of revised data from the Census Bureau and BEA’s 2002 I-O accounts, as well as revised unit motor vehicle data and motor vehicle price data from trade sources. The upward revisions to other equipment reflect the use of BEA’s 2002 I-O accounts and updated data on shipments from the Census Bureau. Residential fixed investment. The revisions to residential fixed investment beginning with 1998 mainly reflect the revised estimates of improvements, based on the incorporation of data from the 2002 I-O accounts and from the Census Bureau estimates of construction spending (value put in place). Change in private inventories. The revisions begin with 1997 and show a mixed pattern dominated by revisions to nonfarm inventories. The revisions are downward for 1997-2001 and upward for 2002 forward. The revisions to nonfarm inventories reflect data from a variety of sources, including newly available and revised Census Bureau data on inventory book values; newly available and revised IRS data for construction, mining, and utilities for 2006 and 2007; revised Census Bureau Quarterly Financial Report data for mining industries for 2008; revised Census Bureau construction spending (value put in place) data for 2008; preliminary Census Bureau Economic Census tabulations of data for manufacturing industries for 2007; the incorporation of new commodity price weights from the 2002 I-O accounts; revised BEA unit labor cost indexes; revised motor vehicle inventory data from trade sources; and revised producer prices. Exports and imports of goods and services. Revisions to net exports of goods and services begin with 1986 and are small through 1997; the revisions are downward for 1998-2008 and become large beginning with 2005. The revisions to net exports are dominated by revisions to exports for all years except 2003. The estimates largely reflect the incorporation of revised data from BEA’s international transactions accounts. Exports. Revisions to exports begin with 1986 and are downward, except for a small upward revision for 2003. Through 2001, the revisions to exports are accounted for by services; after 2005, the revisions to exports are mainly accounted for by goods. Revisions to services are downward except for 2007. Revisions to goods are upward for 2002 and 2003 and downward for 2004-2008. Imports. The revisions to imports are generally small; the revisions are downward for 19862002 and for 2007, and upward for 2003-2006 and for 2008. Through 2001, the revisions to imports are dominated by services; for 2003-2006 and for 2008, the revisions are dominated by goods. Revisions to services begin with 1986 and are small and downward. Small upward revisions to goods begin with 1997. Government consumption expenditures and gross investment. The revisions are small prior to 1998. The upward revisions from 1989 forward are primarily accounted for by state and local government consumption expenditures. Beginning with 1986, estimates of state and local government wages and salaries are revised up, reflecting the incorporation of new information on employee cafeteria plans. Beginning with 2003 and growing larger after 2005, partly offsetting downward revisions to state and local government intermediate purchases reflect the incorporation of the 2002 benchmark I-O accounts and new government finances data from the Census Bureau. Downward revisions to state and - more - - 12 local government gross investment mainly reflect the incorporation of 2002 I-O accounts and of Census Bureau revised and new data on government finances and of construction spending put in place. The revisions to federal government consumption expenditures and gross investment are small until 2008; the revisions reflect improved source data and methods, including revised federal budget data for 2007 and 2008. Personal income. For 1998-2008, the upward revisions mainly reflect upward revisions to rental income of persons and to nonfarm proprietors’ income. For 2001 and 2003, the upward revisions also reflect upward revisions to employer contributions for employee pension and insurance funds. For 2001-2007, the upward revisions reflect upward revisions to wages and salaries. For 2007 and 2008, the upward revisions reflect upward revisions to personal interest income. The upward revisions to personal income are moderated by downward revisions to personal interest income for 1997-2005 and to personal dividend income for 2005, 2007, and 2008. For the 5 most recent years, the upward revisions to personal income can be summarized as follows: • 2004: The revision is mainly accounted for by upward revisions to nonfarm proprietors’ income, to rental income of persons, and to wage and salary disbursements; it is moderated by a downward revision to personal interest income. • 2005: The revision is mainly accounted for by upward revisions to rental income of persons, to nonfarm proprietors’ income, and to wage and salary disbursements; it is moderated by downward revisions to personal interest income and to personal dividend income. • 2006: The revision is mainly accounted for by upward revisions to nonfarm proprietors’ income, to rental income of persons, and to wage and salary disbursements. • 2007: The revision is mainly accounted for by upward revisions to rental income of persons, to personal interest income, to wage and salary disbursements, and to nonfarm proprietors’ income; it is moderated by a downward revision to personal dividend income. • 2008: The revision is mainly accounted for by upward revisions to rental income of persons, to personal interest income, and to nonfarm and farm proprietors’ income; it is moderated by a downward revision to personal dividend income. The revisions to the components of personal income are discussed below. Wage and salary disbursements. The revisions to wage and salary disbursements are small and downward for 1998-2000; they are upward and larger for 2001-2007, and for 2008, the revision is small and downward. The revisions reflect downward revisions to the adjustment for the underreporting and nonreporting of income, resulting from the incorporation of new data from the Internal Revenue Service (IRS) and the Census Bureau. The revisions also reflect the incorporation of new information on employee cafeteria plans that increase wages and salaries. The estimate of income from tips is also revised up, based on information from the IRS. The downward revision for 2008 also reflects the incorporation of revised and newly available tabulations of wage and salary data from the BLS quarterly census of employment and wages. - more - - 13 Supplements to wages and salaries. The revisions to supplements are upward for 1998-2006, and are downward for 2007 and 2008. Estimates of employer contributions for health insurance are revised up for 1998-2006 and revised down for 2007, reflecting the incorporation of data from the Medical Expenditure Panel Survey (MEPS). Employer contributions for private pension and profitsharing plans are revised for 1998 forward (including the two notable upward revisions in 2001 and 2003), reflecting the incorporation of pension program data from the Department of Labor. Employer contributions for private workers’ compensation are revised up for 1997-2007, reflecting the incorporation of data from a trade source. Proprietors’ income. The revisions to proprietors’ income are upward for 1998-2008 and dominated by revisions to nonfarm proprietors’ income (except for 2008); the revisions to farm proprietors’ income are smaller. The revisions to nonfarm proprietors’ income mainly reflect the updated adjustments for the underreporting and nonreporting of income using data from the Internal Revenue Service (IRS) and the Census Bureau that were not available for the previous comprehensive revision. The new treatment of disasters results in revisions to nonfarm proprietors’ income for years with catastrophic events (such as 2001, 2004, 2005, and 2008). The revised estimates for nonfarm proprietors’ income also incorporate new IRS tabulations of tax return data for sole proprietorships and partnerships for 2007. The revisions to farm proprietors’ income reflect a number of statistical improvements, including the incorporation of revised U.S. Department of Agriculture (USDA) data for 2000-2007 and new data for 2008. Rental income of persons. The notable upward revisions to the estimates of rental income of persons for 1998-2008 mainly reflect upward revisions to the estimates of space rent, based on the incorporation of data from the 2001 Residential Finance Survey and the 2000 Census of Housing. The new treatment of disasters also results in revisions for years with catastrophic events (including the upward revision for 2005). Personal interest income. The revisions to personal interest income are downward for 19982005 and upward for 2006-2008. The revisions reflect a number of statistical improvements and the incorporation of revised and newly available source data for estimating net interest and miscellaneous payments (see below) and the incorporation of new and revised data on consumer debt outstanding from the Federal Reserve Board. Personal dividend income. The revisions to personal dividend income are small through 2003 and larger for 2004-2008. The revisions reflect newly incorporated data from the ITAs on dividends from the rest of the world, IRS tabulations of corporate tax returns for 2006 (revised) and 2007 (preliminary), and data from company financial statements. Personal current transfer receipts. The revisions to personal current transfer receipts are generally small; the revisions are downward for 1998-2005 and are upward for 2006-2008. Current transfer receipts from business are revised down for several years, reflecting the new treatment of disasters and statistical improvements. Government social benefits to persons are revised up for 20062008, reflecting upward revisions to health insurance benefits. Contributions for government social insurance. The revisions to contributions for government social insurance (which is deducted in the calculation of personal income) are small for 1997-2008. - more - - 14 Personal current taxes. The revisions to personal current taxes are small for 1998-2007. The larger downward revision for 2008 results from the incorporation of new tax collections data from the Treasury Department and the Social Security Administration. Disposable personal income. The pattern of revisions to disposable personal income, which is equal to personal income less personal current taxes, is similar to that for personal income. The magnitudes differ, especially for 2008, because of the large downward revision to personal current taxes. Personal outlays. This series consists of PCE, personal interest payments, and personal current transfer payments. The revisions to personal outlays primarily reflect the revisions to PCE that were previously described. National income. The revisions to national income are upward for 1997-2008. They mainly reflect upward revisions to rental income of persons, to nonfarm proprietors’ income, to wage and salary disbursements, and to employer contributions for employee pension and insurance funds that were previously described. The revisions to national income also reflect upward revisions to net interest for 2006-2008. The upward revisions to national income are moderated by downward revisions to net interest for 1997-2005, and downward revisions to corporate profits for 2006-2008. Corporate profits with inventory valuation and capital consumption adjustments. Revisions to corporate profits show a mixed pattern: the revisions are upward for 1998-2001, downward for 2002 and 2003, upward again for 2004 and 2005, and downward for 2006-2008. An improved treatment of expenses for nondeductible meals and entertainment contributes to upward revisions, while improved estimates of capital gains and indirect commissions of securities contributes to offsetting downward revisions. In addition, the new treatment of disasters contributes to upward revisions for some years with catastrophic events (such as 1992, 1994, 2001, 2004, 2005, and 2008). The revisions to corporate profits for more recent years also reflect revised IRS tabulations of corporate tax return data for 2006, new IRS tabulations for 2007, and revised regulatory agency and public financial reports for 2008. Net interest and miscellaneous payments. The revisions to net interest and miscellaneous payments are downward for 1998-2005, and are upward for 2006-2008. The revisions reflect the incorporation of a variety of statistical improvements and newly available source data from the Federal Reserve Board on mortgage debt outstanding as well as data from BEA’s international transactions accounts, from revised 2006 and newly available 2007 IRS tabulations of business tax returns, and from the Census Bureau tabulations of mortgage interest payments as reported in the Residential Finance Survey. Consumption of fixed capital (CFC). The revisions to the NIPA measure of depreciation are generally small and show a mixed pattern, with some larger revisions after 2000. The new treatment of disasters contributes to downward revisions for several years with catastrophic events (such as 2001, 2004, and 2005). The revisions also reflect revised investment estimates and other statistical improvements. - more - - 15 Statistical discrepancy. The statistical discrepancy, which is the difference between GDP and Gross Domestic Income (GDI), is revised down for 1997-2006, revised up for 2007, and revised down for 2008. (In theory, GDP should equal GDI; in practice, they differ because their components are estimated using largely independent and less-than-perfect source data.) For 1997-2006 and for 2008, GDP and GDI are both revised up, but the magnitudes of the revisions to GDI are larger, so the statistical discrepancy is revised down. For 2007, GDP and GDI are also revised up, but the magnitude of the revision to GDP is larger, so the statistical discrepancy is revised up. Availability of Revised Estimates and Related Information Revised estimates for selected NIPA tables are available on BEA’s Web site at www.bea.gov. The comprehensive revision was previewed in a series of articles in the Survey of Current Business; the articles are also available on BEA’s Web site at http://www.bea.gov/national/an1.htm. The release schedule for revised NIPA tables is available at http://www.bea.gov/national/tables_releaseschedule.htm. 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 -- August 27, 2009, at 8:30 A.M. EDT for: Gross Domestic Product: Second Quarter 2009 (Second Estimate) Corporate Profits: Second Quarter 2009 (Preliminary Estimate) - more - - 16 Comparisons of Revisions to GDP Quarterly estimates of GDP are released on the following schedule: the “advance” estimate, based on source data that are incomplete or subject to further revision by the source agency, is released near the end of the first month after the end of the quarter; as more detailed and more comprehensive data become available, the “second” and “third” estimates are released near the end of the second and third months, respectively. The “latest” estimate reflects the results of both annual and comprehensive revisions. Annual revisions, which cover the quarters of the 3 most recent calendar years, are usually carried out each summer and incorporate newly available major annual source data. Comprehensive (or benchmark) revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S. economy. The table below shows comparisons of the revisions between quarterly percent changes of current-dollar and of real GDP for the different vintages of the estimates. From the advance estimate to the second estimate (one month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the advance estimate to the third estimate (two months later), it is 0.6 percentage point. From the advance estimate to the latest estimate, the average revision without regard to sign is 1.2 percentage points. The average revision (with regard to sign) from the advance estimate to the latest estimate is 0.3 percentage point, which is larger than the average revisions from the advance estimate to the second or to the third estimates. The larger average revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as the incorporation of BEA’s latest benchmark input-output accounts. The quarterly estimates correctly indicate the direction of change of real GDP 98 percent of the time, correctly indicate whether GDP is accelerating or decelerating 74 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend growth more than three-fifths of the time. Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons [Annual rates] Vintages compared Average Average without regard to sign Standard deviation of revisions without regard to sign Current-dollar GDP Advance to second..... Advance to third................ Second to third........... 0.2 .2 .0 0.5 .7 .3 0.4 .4 .2 Advance to latest............... .4 1.1 .9 Real GDP Advance to second..... Advance to third................ Second to third........... 0.1 .1 .0 0.5 .6 .3 0.4 .4 .2 Advance to latest............... .3 1.2 1.0 NOTE.--These comparisons are based on the period from 1983 through 2005. - more - Table 1. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I II 2005 III IV I II Gross domestic product (GDP).......................................... 4.4 4.8 4.1 1.1 1.8 2.5 3.6 3.1 2.7 2.1 0.4 2.8 2.9 3.0 3.5 4.1 1.7 Personal consumption expenditures................................................. 5.2 5.5 5.1 2.7 2.7 2.8 3.5 3.4 2.9 2.6 –0.2 3.9 2.2 3.5 4.7 3.0 3.9 Goods................................................................................................ 6.8 8.0 5.3 3.1 4.1 4.6 4.4 4.0 3.3 3.1 –2.1 4.1 1.7 4.8 5.1 3.9 5.7 Durable goods ............................................................................... 12.2 13.0 8.8 5.4 7.6 6.0 6.6 5.2 4.1 4.3 –4.5 4.5 2.8 8.1 6.7 2.7 11.7 Nondurable goods ......................................................................... 3.8 5.1 3.2 1.8 2.0 3.7 3.2 3.4 2.8 2.5 –0.8 3.8 1.1 3.0 4.2 4.7 2.5 Services ............................................................................................ 4.4 4.1 5.0 2.5 1.9 1.9 2.9 3.0 2.7 2.4 0.7 3.8 2.4 2.8 4.5 2.5 2.9 Gross private domestic investment................................................... 10.0 8.8 6.8 –7.0 –1.4 3.6 10.0 5.5 2.7 –3.8 –7.3 2.1 18.5 5.3 8.5 8.8 –7.0 Fixed investment................................................................................ 10.9 9.3 7.4 –1.9 –4.2 3.2 7.3 6.5 2.3 –2.1 –5.1 –0.8 12.9 8.8 7.0 5.0 7.3 Nonresidential ............................................................................... 12.0 10.4 9.8 –2.8 –7.9 0.9 6.0 6.7 7.9 6.2 1.6 –3.1 11.2 11.4 9.1 3.7 6.0 Structures.................................................................................. 5.1 0.1 7.8 –1.5 –17.7 –3.8 1.1 1.4 9.2 14.9 10.3 –2.3 4.7 4.1 0.4 7.4 –1.5 Equipment and software............................................................ 14.5 14.1 10.5 –3.2 –4.2 2.5 7.7 8.5 7.4 2.6 –2.6 –3.4 13.5 14.0 12.2 2.4 8.7 Residential..................................................................................... 7.7 6.3 1.0 0.6 5.2 8.2 9.8 6.2 –7.3 –18.5 –22.9 3.6 15.9 4.1 3.2 7.5 9.6 Change in private inventories ............................................................ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ Net exports of goods and services.................................................... ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ Exports .............................................................................................. 2.3 4.4 8.6 –5.6 –2.0 1.6 9.5 6.7 9.0 8.7 5.4 9.8 6.4 3.0 9.4 7.6 8.8 Goods............................................................................................ 2.2 3.8 11.1 –6.2 –3.6 1.8 8.5 7.5 9.4 7.4 5.9 6.6 6.8 5.1 6.4 8.4 13.8 Services ........................................................................................ 2.4 5.7 2.7 –4.1 1.9 1.2 11.9 5.0 7.9 11.8 4.2 17.3 5.4 –1.7 16.5 5.9 –1.7 Imports .............................................................................................. 11.7 11.5 13.0 –2.8 3.4 4.4 11.0 6.1 6.1 2.0 –3.2 10.6 17.0 5.9 10.5 2.3 4.5 Goods............................................................................................ 11.8 12.5 13.4 –3.2 3.7 4.9 11.0 6.8 5.9 1.7 –3.9 9.9 18.6 6.7 10.8 3.5 4.8 Services ........................................................................................ 10.9 6.8 11.0 –0.8 1.8 1.9 11.2 2.8 7.1 3.5 0.7 14.2 9.4 2.4 9.4 –3.7 2.6 Government consumption expenditures and gross investment..... 2.1 3.6 2.0 3.8 4.7 2.2 1.4 0.3 1.4 1.7 3.1 1.9 1.5 1.5 –2.4 0.4 0.4 Federal .............................................................................................. –1.1 1.9 0.5 4.1 7.3 6.6 4.1 1.3 2.1 1.3 7.7 5.2 2.3 7.1 –4.8 1.7 0.4 National defense............................................................................ –2.1 1.9 –0.5 3.8 7.4 8.7 5.7 1.5 1.6 2.2 7.8 6.1 2.1 12.1 –9.6 3.6 3.1 Nondefense ................................................................................... 0.8 2.1 2.4 4.6 7.2 2.8 1.0 0.9 3.2 –0.6 7.3 3.5 2.6 –2.3 5.6 –2.1 –5.0 State and local................................................................................... 3.9 4.5 2.8 3.7 3.3 –0.1 –0.2 –0.2 0.9 2.0 0.5 0.1 1.0 –1.7 –1.0 –0.4 0.5 Addenda: Final sales of domestic product......................................................... 4.4 4.9 4.2 2.0 1.3 2.4 3.2 3.2 2.6 2.5 0.8 2.4 2.0 3.5 3.2 3.4 4.2 Gross domestic purchases................................................................ 5.5 5.7 4.8 1.2 2.4 2.8 4.0 3.2 2.6 1.4 –0.7 3.2 4.4 3.4 4.0 3.5 1.5 Final sales to domestic purchasers ................................................... 5.6 5.8 4.9 2.1 1.9 2.8 3.6 3.3 2.5 1.7 –0.4 2.8 3.6 3.9 3.7 2.9 3.8 Gross national product (GNP) ........................................................... 4.3 4.9 4.2 1.2 1.8 2.6 3.7 3.1 2.4 2.4 0.6 3.5 2.0 3.3 2.6 5.2 1.3 Disposable personal income ............................................................. 6.0 3.0 5.1 2.4 3.3 2.5 3.4 1.3 4.0 2.2 0.5 1.8 4.0 2.7 5.7 –4.8 2.8 Current-dollar measures: GDP............................................................................................... 5.5 6.4 6.4 3.4 3.5 4.7 6.5 6.5 6.0 5.1 2.6 6.5 6.4 6.0 6.7 8.0 4.5 Final sales of domestic product..................................................... 5.7 6.4 6.5 4.3 3.0 4.7 6.1 6.7 6.0 5.4 3.0 5.9 5.5 6.6 6.3 7.3 7.1 Gross domestic purchases............................................................ 6.2 7.4 7.5 3.1 3.9 5.2 7.2 7.0 6.0 4.4 2.4 7.5 8.2 6.7 8.0 7.2 4.7 Final sales to domestic purchasers ............................................... 6.3 7.5 7.6 4.1 3.4 5.2 6.8 7.2 6.0 4.7 2.8 7.0 7.4 7.2 7.7 6.6 7.1 GNP............................................................................................... 5.4 6.5 6.5 3.5 3.4 4.9 6.7 6.5 5.8 5.4 2.7 7.1 5.5 6.3 5.7 9.1 4.1 Disposable personal income ......................................................... 7.0 4.7 7.7 4.4 4.7 4.6 6.1 4.4 6.9 4.9 3.9 5.2 7.1 5.3 9.2 –2.5 5.4 Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II Gross domestic product (GDP).......................................... 3.1 2.1 5.4 1.4 0.1 3.0 1.2 3.2 3.6 2.1 –0.7 1.5 –2.7 –5.4 –6.4 –1.0 Personal consumption expenditures................................................. 2.9 1.0 4.5 2.2 2.5 4.1 3.7 1.1 1.9 1.2 –0.6 0.1 –3.5 –3.1 0.6 –1.2 Goods................................................................................................ 3.1 –1.1 7.5 0.7 3.3 5.9 3.9 0.2 3.1 3.0 –5.1 –0.5 –7.7 –10.0 2.5 –4.0 Durable goods ............................................................................... 4.8 –9.7 17.0 –1.0 4.5 5.6 5.5 2.1 5.2 5.5 –8.9 –5.7 –11.7 –20.3 3.9 –7.1 Nondurable goods ......................................................................... 2.1 3.9 2.6 1.6 2.6 6.1 3.1 –0.8 2.1 1.8 –3.0 2.2 –5.6 –4.9 1.9 –2.5 Services ............................................................................................ 2.8 2.2 2.9 3.0 2.1 3.1 3.6 1.6 1.3 0.3 1.8 0.4 –1.3 0.5 –0.3 0.1 Gross private domestic investment................................................... 4.5 15.1 6.0 –0.6 –5.5 –10.9 –6.0 5.7 0.8 –7.7 –7.4 –10.4 –6.9 –24.2 –50.5 –20.4 Fixed investment................................................................................ 5.2 1.5 9.5 –1.9 –5.0 –5.3 –2.6 3.6 –0.4 –4.2 –6.3 –2.7 –8.3 –20.2 –39.0 –13.5 Nonresidential ............................................................................... 5.8 2.2 18.0 7.3 4.4 2.3 4.2 11.4 9.6 6.7 1.9 1.4 –6.1 –19.5 –39.2 –8.9 Structures.................................................................................. –8.1 2.5 18.9 22.4 10.3 1.5 15.6 22.7 26.6 11.2 6.8 14.5 –0.1 –7.2 –43.6 –8.9 Equipment and software............................................................ 11.2 2.3 17.8 2.1 2.2 2.8 –0.5 6.5 2.2 4.5 –0.5 –5.0 –9.4 –25.9 –36.4 –9.0 Residential..................................................................................... 4.2 0.1 –4.2 –16.9 –21.2 –19.7 –16.2 –12.9 –22.4 –29.5 –28.2 –15.8 –15.9 –23.2 –38.2 –29.3 Change in private inventories ............................................................ ............. ............. ............ ............. ............. ............ ............. ............. ............. ............ ............. ............. ............. ............ ............. ............. Net exports of goods and services.................................................... ............. ............. ............ ............. ............. ............ ............. ............. ............. ............ ............. ............. ............. ............ ............. ............. Exports .............................................................................................. 0.1 10.5 16.5 6.9 0.6 17.8 3.5 5.2 18.5 14.5 –0.1 12.1 –3.6 –19.5 –29.9 –7.0 Goods............................................................................................ –1.1 11.8 17.8 7.4 0.2 13.1 3.0 6.3 14.8 12.4 4.2 14.1 –1.8 –25.5 –36.9 –9.3 Services ........................................................................................ 2.9 7.4 13.6 5.6 1.5 29.1 4.7 2.8 27.2 19.2 –9.0 7.8 –7.7 –4.3 –13.6 –2.3 Imports .............................................................................................. 2.5 11.7 7.8 4.5 4.9 –0.5 4.3 –0.5 3.7 –3.6 –2.5 –5.0 –2.2 –16.7 –36.4 –15.1 Goods............................................................................................ 2.7 12.1 6.3 5.0 5.5 –2.3 5.0 –1.0 2.8 –3.8 –3.5 –4.6 –3.7 –19.6 –41.0 –15.9 Services ........................................................................................ 1.2 9.5 16.1 1.8 1.3 10.0 0.4 2.1 8.6 –2.9 3.0 –7.1 6.1 –0.9 –11.5 –11.5 Government consumption expenditures and gross investment..... 3.7 –1.8 4.1 0.3 0.6 1.1 0.0 4.4 3.9 1.6 2.6 3.6 4.8 1.2 –2.6 5.6 Federal .............................................................................................. 9.7 –6.5 11.9 –3.4 –0.4 1.1 –5.1 7.4 9.3 2.7 8.1 7.8 13.2 6.5 –4.3 10.9 National defense............................................................................ 11.1 –14.3 10.5 1.1 –1.9 8.5 –7.6 8.6 10.0 0.5 8.2 7.0 19.8 3.8 –5.1 13.3 Nondefense ................................................................................... 6.8 11.7 14.7 –11.6 2.9 –12.7 0.3 5.0 7.9 7.6 8.1 9.6 0.1 12.7 –2.5 6.0 State and local................................................................................... 0.3 1.1 –0.3 2.6 1.2 1.1 3.1 2.7 0.9 1.0 –0.5 1.2 0.1 –2.0 –1.5 2.4 Addenda: Final sales of domestic product......................................................... 3.2 –0.1 5.9 1.2 0.2 4.1 1.8 2.9 3.4 2.8 –0.5 2.7 –2.9 –4.7 –4.1 –0.2 Gross domestic purchases................................................................ 3.3 2.7 4.7 1.4 0.8 1.0 1.4 2.4 2.1 –0.2 –1.1 –0.9 –2.5 –5.5 –8.6 –2.3 Final sales to domestic purchasers ................................................... 3.4 0.6 5.2 1.2 0.9 2.0 2.0 2.1 1.9 0.4 –0.9 0.3 –2.7 –4.9 –6.4 –1.5 Gross national product (GNP) ........................................................... 3.4 1.1 5.4 1.3 –0.3 3.2 0.9 3.6 5.4 3.4 –1.1 0.2 –1.8 –6.7 –6.6 ............. Disposable personal income ............................................................. 2.4 2.2 7.7 3.6 1.9 5.3 1.7 0.5 1.7 0.1 –2.4 9.8 –8.5 3.4 1.1 3.2 Current-dollar measures: GDP............................................................................................... 7.4 5.6 8.6 5.1 3.2 4.8 5.5 6.0 5.3 4.5 1.0 3.5 1.4 –5.4 –4.6 –0.8 Final sales of domestic product..................................................... 7.6 3.3 9.2 4.9 3.3 6.0 6.1 5.7 5.1 5.2 1.5 4.7 1.0 –5.2 –2.4 0.0 Gross domestic purchases............................................................ 8.4 7.0 7.6 5.0 3.7 1.9 5.7 5.5 4.3 4.4 2.1 3.2 1.8 –9.2 –9.8 –1.6 Final sales to domestic purchasers ............................................... 8.6 4.8 8.2 4.8 3.8 3.0 6.3 5.2 4.1 5.0 2.6 4.3 1.5 –9.0 –7.7 –0.8 GNP............................................................................................... 7.7 4.6 8.6 4.9 2.8 5.1 5.3 6.3 7.1 5.8 0.6 2.3 2.2 –6.7 –4.8 ............. Disposable personal income ......................................................... 7.1 5.8 9.5 6.7 4.9 5.3 5.5 3.7 4.1 5.2 1.2 14.1 –4.2 –1.8 –0.4 4.6 See “Explanatory Note” at the end of the tables. Table 1A. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Continues Average annual rate Seasonally adjusted at annual rates 2006 2007 2008 Gross domestic product (GDP).............................................. 3.4 3.4 2.8 4.4 4.8 4.1 1.1 1.8 2.5 3.6 3.1 2.7 Previously published ............................................................. 3.3 3.4 2.7 4.2 4.5 3.7 0.8 1.6 2.5 3.6 2.9 2.8 Personal consumption expenditures................................................. 3.3 3.5 3.3 5.2 5.5 5.1 2.7 2.7 2.8 3.5 3.4 2.9 Previously published.......................................................................... 3.2 3.5 3.2 5.0 5.1 4.7 2.5 2.7 2.8 3.6 3.0 3.0 Gross private domestic investment................................................... 3.8 4.4 2.4 10.0 8.8 6.8 –7.0 –1.4 3.6 10.0 5.5 2.7 Previously published.......................................................................... 3.8 4.4 1.8 9.8 7.8 5.7 –7.9 –2.6 3.6 9.7 5.8 2.1 Fixed investment................................................................................ 3.5 4.3 2.9 10.9 9.3 7.4 –1.9 –4.2 3.2 7.3 6.5 2.3 Previously published...................................................................... 3.4 4.3 2.4 10.2 8.3 6.5 –3.0 –5.2 3.4 7.3 6.8 1.9 Nonresidential ............................................................................... 4.0 5.3 4.5 12.0 10.4 9.8 –2.8 –7.9 0.9 6.0 6.7 7.9 Previously published.................................................................. 3.9 5.3 3.8 11.1 9.2 8.7 –4.2 –9.2 1.0 5.8 7.2 7.5 Structures.................................................................................. 1.8 2.4 2.1 5.1 0.1 7.8 –1.5 –17.7 –3.8 1.1 1.4 9.2 Previously published ............................................................. 1.8 2.4 1.7 5.1 –0.4 6.8 –2.3 –17.1 –4.1 1.3 1.3 8.2 Equipment and software............................................................ 5.0 6.7 5.1 14.5 14.1 10.5 –3.2 –4.2 2.5 7.7 8.5 7.4 Previously published ............................................................. 4.9 6.7 4.3 13.3 12.7 9.4 –4.9 –6.2 2.8 7.4 9.3 7.2 Residential..................................................................................... 2.3 2.2 –1.0 7.7 6.3 1.0 0.6 5.2 8.2 9.8 6.2 –7.3 Previously published.................................................................. 2.3 2.2 –0.7 7.6 6.0 0.8 0.4 4.8 8.4 10.0 6.3 –7.1 Change in private inventories ............................................................ .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... ......... ......... Net exports of goods and services.................................................... .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... ......... ......... Exports .............................................................................................. 4.9 6.8 4.3 2.3 4.4 8.6 –5.6 –2.0 1.6 9.5 6.7 9.0 Previously published...................................................................... 4.9 6.8 4.4 2.4 4.3 8.7 –5.4 –2.3 1.3 9.7 7.0 9.1 Goods............................................................................................ 4.8 7.1 4.2 2.2 3.8 11.1 –6.2 –3.6 1.8 8.5 7.5 9.4 Previously published.................................................................. 4.8 7.1 4.3 2.2 3.8 11.2 –6.1 –4.0 1.8 9.0 7.7 9.9 Services ........................................................................................ 5.5 6.0 4.5 2.4 5.7 2.7 –4.1 1.9 1.2 11.9 5.0 7.9 Previously published.................................................................. 5.5 6.0 4.5 2.9 5.6 2.9 –3.7 1.9 0.0 11.5 5.6 7.2 Imports .............................................................................................. 4.9 6.3 5.6 11.7 11.5 13.0 –2.8 3.4 4.4 11.0 6.1 6.1 Previously published...................................................................... 4.9 6.3 5.6 11.6 11.5 13.1 –2.7 3.4 4.1 11.3 5.9 6.0 Goods............................................................................................ 5.0 7.0 5.7 11.8 12.5 13.4 –3.2 3.7 4.9 11.0 6.8 5.9 Previously published.................................................................. 4.9 7.0 5.7 11.7 12.4 13.5 –3.2 3.7 4.9 11.3 6.8 6.0 Services ........................................................................................ 4.5 4.2 5.1 10.9 6.8 11.0 –0.8 1.8 1.9 11.2 2.8 7.1 Previously published.................................................................. 4.5 4.3 4.9 11.4 6.9 11.1 –0.3 2.1 0.0 11.5 1.4 6.0 Government consumption expenditures and gross investment..... 3.7 2.1 2.4 2.1 3.6 2.0 3.8 4.7 2.2 1.4 0.3 1.4 Previously published.......................................................................... 3.7 2.1 2.4 1.9 3.9 2.1 3.4 4.4 2.5 1.4 0.4 1.7 Federal .............................................................................................. 4.7 0.9 3.2 –1.1 1.9 0.5 4.1 7.3 6.6 4.1 1.3 2.1 Previously published...................................................................... 4.7 0.9 3.1 –1.1 2.2 0.9 3.9 7.0 6.8 4.2 1.2 2.3 National defense............................................................................ 5.1 0.3 3.4 –2.1 1.9 –0.5 3.8 7.4 8.7 5.7 1.5 1.6 Previously published.................................................................. 5.1 0.3 3.4 –2.1 1.9 –0.5 3.9 7.4 8.7 5.8 1.5 1.6 Nondefense ................................................................................... 4.3 2.7 2.9 0.8 2.1 2.4 4.6 7.2 2.8 1.0 0.9 3.2 Previously published.................................................................. 4.2 2.7 2.7 0.7 2.8 3.5 3.9 6.3 3.4 1.1 0.6 3.6 State and local................................................................................... 2.9 3.2 1.9 3.9 4.5 2.8 3.7 3.3 –0.1 –0.2 –0.2 0.9 Previously published...................................................................... 2.9 3.2 2.0 3.6 4.7 2.7 3.2 3.1 0.2 –0.2 –0.1 1.3 Addenda: Final sales of domestic product......................................................... 3.4 3.4 2.9 4.4 4.9 4.2 2.0 1.3 2.4 3.2 3.2 2.6 Previously published...................................................................... 3.3 3.4 2.8 4.2 4.5 3.8 1.6 1.2 2.5 3.3 3.1 2.8 Gross domestic purchases................................................................ 3.4 3.4 3.0 5.5 5.7 4.8 1.2 2.4 2.8 4.0 3.2 2.6 Previously published...................................................................... 3.4 3.4 2.9 5.3 5.3 4.4 0.9 2.2 2.8 4.1 3.0 2.6 Final sales to domestic purchasers ................................................... 3.4 3.4 3.1 5.6 5.8 4.9 2.1 1.9 2.8 3.6 3.3 2.5 Previously published...................................................................... 3.4 3.4 3.0 5.3 5.4 4.5 1.8 1.8 2.8 3.8 3.1 2.6 Gross national product (GNP) ........................................................... 3.4 3.4 2.8 4.3 4.9 4.2 1.2 1.8 2.6 3.7 3.1 2.4 Previously published...................................................................... 3.3 3.4 2.7 4.0 4.6 3.7 0.8 1.5 2.7 3.8 3.0 2.6 Disposable personal income ............................................................. 3.3 3.5 3.1 6.0 3.0 5.1 2.4 3.3 2.5 3.4 1.3 4.0 Previously published...................................................................... 3.2 3.5 3.0 5.8 3.0 4.8 1.9 3.1 2.2 3.6 1.4 3.5 Current-dollar measures: GDP............................................................................................... 6.4 7.6 5.1 5.5 6.4 6.4 3.4 3.5 4.7 6.5 6.5 6.0 Previously published.................................................................. 6.4 7.6 5.0 5.3 6.0 5.9 3.2 3.4 4.7 6.6 6.3 6.1 Final sales of domestic product..................................................... 6.5 7.6 5.2 5.7 6.4 6.5 4.3 3.0 4.7 6.1 6.7 6.0 Previously published.................................................................. 6.5 7.6 5.2 5.4 6.1 6.1 4.1 2.9 4.7 6.2 6.5 6.1 Gross domestic purchases............................................................ 6.5 7.7 5.5 6.2 7.4 7.5 3.1 3.9 5.2 7.2 7.0 6.0 Previously published.................................................................. 6.5 7.7 5.4 6.0 7.0 7.0 2.9 3.8 5.2 7.3 6.8 6.1 Final sales to domestic purchasers ............................................... 6.5 7.7 5.6 6.3 7.5 7.6 4.1 3.4 5.2 6.8 7.2 6.0 Previously published.................................................................. 6.5 7.7 5.5 6.0 7.1 7.2 3.8 3.4 5.2 7.0 6.9 6.1 GNP............................................................................................... 6.5 7.6 5.2 5.4 6.5 6.5 3.5 3.4 4.9 6.7 6.5 5.8 Previously published.................................................................. 6.4 7.6 5.1 5.2 6.1 6.0 3.2 3.2 4.9 6.8 6.4 5.9 Disposable personal income ......................................................... 6.4 7.8 5.4 7.0 4.7 7.7 4.4 4.7 4.6 6.1 4.4 6.9 Previously published.................................................................. 6.3 7.8 5.4 6.8 4.7 7.5 4.1 4.6 4.2 6.4 4.4 6.4 2.1 2.0 2.6 2.8 –3.8 –5.4 –2.1 –3.1 6.2 4.9 14.9 12.7 2.6 1.7 –18.5 –17.9 .......... .......... 8.7 8.4 7.4 7.5 11.8 10.5 2.0 2.2 1.7 1.7 3.5 4.4 1.7 2.1 1.3 1.6 2.2 2.5 –0.6 –0.2 2.0 2.3 0.4 2.8 2.9 3.0 3.5 4.1 1.7 1.1 3.0 3.5 3.6 2.5 3.0 2.6 –0.2 3.9 2.2 3.5 4.7 3.0 3.9 0.2 4.4 2.4 3.5 4.2 1.7 3.6 –7.3 2.1 18.5 5.3 8.5 8.8 –7.0 –6.7 2.1 20.7 8.0 6.4 9.1 –5.1 –5.1 –0.8 12.9 8.8 7.0 5.0 7.3 –5.0 –0.2 12.9 9.3 7.3 5.3 7.6 1.6 –3.1 11.2 11.4 9.1 3.7 6.0 1.6 –2.6 10.7 12.3 10.3 3.7 6.3 10.3 –2.3 4.7 4.1 0.4 7.4 –1.5 11.2 –0.3 6.1 3.6 –0.2 7.5 –1.3 –2.6 –3.4 13.5 14.0 12.2 2.4 8.7 –3.0 –3.4 12.4 15.5 14.3 2.3 9.2 –22.9 3.6 15.9 4.1 3.2 7.5 9.6 –20.8 4.0 16.7 4.2 2.4 8.1 9.7 ......... .......... ......... .......... .......... ......... .......... ......... .......... ......... .......... .......... ......... .......... 5.4 9.8 6.4 3.0 9.4 7.6 8.8 6.2 10.0 6.5 3.1 10.0 8.1 8.8 5.9 6.6 6.8 5.1 6.4 8.4 13.8 6.0 7.4 7.2 6.2 7.2 7.1 14.5 4.2 17.3 5.4 –1.7 16.5 5.9 –1.7 6.6 16.2 5.1 –3.4 16.8 10.2 –2.8 –3.2 10.6 17.0 5.9 10.5 2.3 4.5 –3.5 12.3 15.2 4.8 13.8 3.2 0.6 –3.9 9.9 18.6 6.7 10.8 3.5 4.8 –4.1 11.5 16.6 5.5 14.5 5.0 0.7 0.7 14.2 9.4 2.4 9.4 –3.7 2.6 0.2 16.5 8.9 1.8 10.5 –5.7 0.0 3.1 1.9 1.5 1.5 –2.4 0.4 0.4 2.9 1.5 1.3 1.6 –1.8 –0.2 0.9 7.7 5.2 2.3 7.1 –4.8 1.7 0.4 6.0 6.1 2.4 6.2 –4.6 1.1 1.1 7.8 6.1 2.1 12.1 –9.6 3.6 3.1 7.2 8.1 2.0 10.9 –9.7 3.1 4.0 7.3 3.5 2.6 –2.3 5.6 –2.1 –5.0 3.6 2.3 3.2 –2.7 6.5 –2.7 –4.5 0.5 0.1 1.0 –1.7 –1.0 –0.4 0.5 1.1 –1.0 0.7 –1.1 –0.1 –1.0 0.8 1929– 1959– 1997– 2008 1997 2008 1998 1999 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new 2000 2001 2002 2003 2004 2005 2004 I classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. II 2005 III IV I II 2.5 2.4 1.4 1.4 1.7 1.8 2.4 2.2 2.2 2.8 0.8 1.4 –0.7 –0.3 –0.4 0.0 0.6 1.3 0.5 1.3 2.4 2.6 3.2 3.6 2.8 3.2 3.5 3.6 1.8 3.7 2.0 2.4 4.4 4.8 3.6 3.7 2.0 2.6 4.0 2.4 3.5 3.8 3.4 3.8 3.9 4.0 3.3 3.9 2.7 2.9 3.2 2.7 4.0 3.4 3.7 3.6 2.6 1.5 5.7 7.5 3.4 2.3 3.5 2.5 2.9 1.9 5.2 4.7 –4.8 –4.7 4.2 4.8 1.5 1.7 3.8 3.7 1.3 2.2 2.8 2.5 5.1 4.8 5.4 5.2 4.4 4.2 4.7 4.6 5.4 4.9 4.9 5.5 2.6 3.3 3.0 3.6 2.4 2.9 2.8 3.2 2.7 3.5 3.9 4.6 6.5 6.8 5.9 6.4 7.5 8.0 7.0 7.6 7.1 7.4 5.2 7.3 6.4 7.4 5.5 6.2 8.2 9.2 7.4 8.0 5.5 6.5 7.1 6.3 6.0 6.0 6.6 6.1 6.7 6.7 7.2 6.8 6.3 6.3 5.3 4.9 6.7 5.9 6.3 6.0 8.0 7.2 7.7 7.3 5.7 4.8 9.2 10.8 8.0 7.1 7.3 6.5 7.2 6.3 6.6 5.7 9.1 8.8 –2.5 –2.4 4.5 4.8 7.1 7.0 4.7 4.8 7.1 6.9 4.1 4.4 5.4 5.1 Table 1A. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Table Ends Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I Gross domestic product (GDP).............................................. 3.1 2.1 5.4 1.4 0.1 3.0 1.2 3.2 3.6 2.1 –0.7 1.5 –2.7 –5.4 –6.4 Previously published ............................................................. 3.8 1.3 4.8 2.7 0.8 1.5 0.1 4.8 4.8 –0.2 0.9 2.8 –0.5 –6.3 –5.5 Personal consumption expenditures................................................. 2.9 1.0 4.5 2.2 2.5 4.1 3.7 1.1 1.9 1.2 –0.6 0.1 –3.5 –3.1 0.6 Previously published.......................................................................... 3.7 1.4 4.3 2.8 2.2 3.7 3.9 2.0 2.0 1.0 0.9 1.2 –3.8 –4.3 1.4 Gross private domestic investment................................................... 4.5 15.1 6.0 –0.6 –5.5 –10.9 –6.0 5.7 0.8 –7.7 –7.4 –10.4 –6.9 –24.2 –50.5 Previously published.......................................................................... 4.0 12.2 6.2 –0.4 –5.3 –15.0 –9.6 6.2 3.5 –11.9 –5.8 –11.5 0.4 –23.0 –48.9 Fixed investment................................................................................ 5.2 1.5 9.5 –1.9 –5.0 –5.3 –2.6 3.6 –0.4 –4.2 –6.3 –2.7 –8.3 –20.2 –39.0 Previously published...................................................................... 5.3 2.3 8.3 –2.5 –4.8 –7.6 –3.4 3.0 –0.9 –6.2 –5.6 –1.7 –5.3 –22.0 –37.6 Nonresidential ............................................................................... 5.8 2.2 18.0 7.3 4.4 2.3 4.2 11.4 9.6 6.7 1.9 1.4 –6.1 –19.5 –39.2 Previously published.................................................................. 6.1 3.7 15.9 6.4 5.3 –1.0 3.4 10.3 8.7 3.4 2.4 2.5 –1.7 –21.7 –37.3 Structures.................................................................................. –8.1 2.5 18.9 22.4 10.3 1.5 15.6 22.7 26.6 11.2 6.8 14.5 –0.1 –7.2 –43.6 Previously published ............................................................. –9.2 1.9 15.6 19.7 14.3 2.5 11.2 18.3 20.5 8.5 8.6 18.5 9.7 –9.4 –42.9 Equipment and software............................................................ 11.2 2.3 17.8 2.1 2.2 2.8 –0.5 6.5 2.2 4.5 –0.5 –5.0 –9.4 –25.9 –36.4 Previously published ............................................................. 12.2 4.4 16.3 1.7 2.0 –2.4 0.0 6.9 3.6 1.0 –0.6 –5.0 –7.5 –28.1 –33.7 Residential..................................................................................... 4.2 0.1 –4.2 –16.9 –21.2 –19.7 –16.2 –12.9 –22.4 –29.5 –28.2 –15.8 –15.9 –23.2 –38.2 Previously published.................................................................. 4.0 0.2 –3.6 –16.6 –21.4 –19.5 –16.2 –11.5 –20.6 –27.0 –25.1 –13.3 –16.0 –22.8 –38.8 Change in private inventories ............................................................ .............. .............. ............. .............. .............. .............. .............. ............. .............. .............. .............. ............. .............. .............. .............. Net exports of goods and services.................................................... .............. .............. ............. .............. .............. .............. .............. ............. .............. .............. .............. ............. .............. .............. .............. Exports .............................................................................................. 0.1 10.5 16.5 6.9 0.6 17.8 3.5 5.2 18.5 14.5 –0.1 12.1 –3.6 –19.5 –29.9 Previously published...................................................................... 0.4 10.9 16.7 5.5 3.5 15.6 0.6 8.8 23.0 4.4 5.1 12.3 3.0 –23.6 –30.6 Goods............................................................................................ –1.1 11.8 17.8 7.4 0.2 13.1 3.0 6.3 14.8 12.4 4.2 14.1 –1.8 –25.5 –36.9 Previously published.................................................................. –0.8 13.2 18.1 6.7 3.6 10.4 2.1 6.9 21.8 5.1 4.5 16.3 3.7 –32.0 –38.8 Services ........................................................................................ 2.9 7.4 13.6 5.6 1.5 29.1 4.7 2.8 27.2 19.2 –9.0 7.8 –7.7 –4.3 –13.6 Previously published.................................................................. 3.2 5.7 13.4 2.7 3.2 28.6 –2.7 13.3 25.9 2.7 6.4 3.8 1.4 –1.5 –11.5 Imports .............................................................................................. 2.5 11.7 7.8 4.5 4.9 –0.5 4.3 –0.5 3.7 –3.6 –2.5 –5.0 –2.2 –16.7 –36.4 Previously published...................................................................... 0.8 15.3 10.3 0.1 3.1 2.0 7.7 –3.7 3.0 –2.3 –0.8 –7.3 –3.5 –17.5 –36.4 Goods............................................................................................ 2.7 12.1 6.3 5.0 5.5 –2.3 5.0 –1.0 2.8 –3.8 –3.5 –4.6 –3.7 –19.6 –41.0 Previously published.................................................................. 1.1 17.0 9.0 0.5 3.8 –0.8 8.4 –4.0 2.4 –2.6 –2.0 –7.1 –4.7 –19.6 –41.4 Services ........................................................................................ 1.2 9.5 16.1 1.8 1.3 10.0 0.4 2.1 8.6 –2.9 3.0 –7.1 6.1 –0.9 –11.5 Previously published.................................................................. –1.0 6.8 17.7 –2.0 –0.3 18.4 4.2 –2.0 6.3 –0.9 5.5 –8.0 3.3 –6.7 –10.2 Government consumption expenditures and gross investment..... 3.7 –1.8 4.1 0.3 0.6 1.1 0.0 4.4 3.9 1.6 2.6 3.6 4.8 1.2 –2.6 Previously published.......................................................................... 3.4 –1.7 3.9 1.2 1.7 1.6 0.9 3.9 3.8 0.8 1.9 3.9 5.8 1.3 –3.1 Federal .............................................................................................. 9.7 –6.5 11.9 –3.4 –0.4 1.1 –5.1 7.4 9.3 2.7 8.1 7.8 13.2 6.5 –4.3 Previously published...................................................................... 9.7 –7.2 10.0 –1.5 1.9 1.8 –3.6 6.7 7.2 –0.5 5.8 6.6 13.8 7.0 –4.5 National defense............................................................................ 11.1 –14.3 10.5 1.1 –1.9 8.5 –7.6 8.6 10.0 0.5 8.2 7.0 19.8 3.8 –5.1 Previously published.................................................................. 12.3 –14.2 8.8 1.9 –0.9 7.0 –5.9 8.5 10.2 –0.9 7.3 7.3 18.0 3.4 –6.8 Nondefense ................................................................................... 6.8 11.7 14.7 –11.6 2.9 –12.7 0.3 5.0 7.9 7.6 8.1 9.6 0.1 12.7 –2.5 Previously published.................................................................. 4.4 8.9 12.4 –8.1 7.7 –8.1 1.2 3.1 1.2 0.4 2.9 5.0 5.1 15.3 0.6 State and local................................................................................... 0.3 1.1 –0.3 2.6 1.2 1.1 3.1 2.7 0.9 1.0 –0.5 1.2 0.1 –2.0 –1.5 Previously published...................................................................... –0.1 1.6 0.5 2.9 1.6 1.5 3.6 2.4 1.9 1.6 –0.3 2.5 1.3 –2.0 –2.2 Addenda: Final sales of domestic product......................................................... 3.2 –0.1 5.9 1.2 0.2 4.1 1.8 2.9 3.4 2.8 –0.5 2.7 –2.9 –4.7 –4.1 Previously published...................................................................... 4.1 –0.3 5.1 2.3 0.9 2.9 1.1 4.3 4.0 0.8 0.9 4.4 –1.3 –6.2 –3.3 Gross domestic purchases................................................................ 3.3 2.7 4.7 1.4 0.8 1.0 1.4 2.4 2.1 –0.2 –1.1 –0.9 –2.5 –5.5 –8.6 Previously published...................................................................... 3.7 2.5 4.5 2.0 0.9 0.2 1.2 2.9 2.6 –1.0 0.1 –0.1 –1.5 –5.9 –7.5 Final sales to domestic purchasers ................................................... 3.4 0.6 5.2 1.2 0.9 2.0 2.0 2.1 1.9 0.4 –0.9 0.3 –2.7 –4.9 –6.4 Previously published...................................................................... 3.9 1.0 4.8 1.6 1.0 1.5 2.2 2.5 1.9 –0.1 0.1 1.3 –2.3 –5.8 –5.4 Gross national product (GNP) ........................................................... 3.4 1.1 5.4 1.3 –0.3 3.2 0.9 3.6 5.4 3.4 –1.1 0.2 –1.8 –6.7 –6.6 Previously published...................................................................... 4.1 0.4 4.9 2.8 0.2 2.0 –0.3 4.4 6.3 1.3 0.1 2.1 –0.2 –5.6 –5.6 Disposable personal income ............................................................. 2.4 2.2 7.7 3.6 1.9 5.3 1.7 0.5 1.7 0.1 –2.4 9.8 –8.5 3.4 1.1 Previously published...................................................................... –1.3 7.5 5.1 1.3 2.3 5.8 4.4 –0.6 3.1 0.6 –0.7 10.7 –8.5 2.9 6.0 Current-dollar measures: GDP............................................................................................... 7.4 5.6 8.6 5.1 3.2 4.8 5.5 6.0 5.3 4.5 1.0 3.5 1.4 –5.4 –4.6 Previously published.................................................................. 8.1 5.1 8.6 5.5 3.6 3.7 4.3 6.9 6.3 2.3 3.5 4.1 3.4 –5.8 –2.9 Final sales of domestic product..................................................... 7.6 3.3 9.2 4.9 3.3 6.0 6.1 5.7 5.1 5.2 1.5 4.7 1.0 –5.2 –2.4 Previously published.................................................................. 8.4 3.5 8.8 5.1 3.7 5.2 5.3 6.4 5.6 3.6 3.6 5.6 2.6 –6.1 –0.7 Gross domestic purchases............................................................ 8.4 7.0 7.6 5.0 3.7 1.9 5.7 5.5 4.3 4.4 2.1 3.2 1.8 –9.2 –9.8 Previously published.................................................................. 9.1 6.5 7.5 5.7 3.8 0.7 5.0 6.4 4.9 2.6 3.5 4.3 2.9 –9.6 –8.4 Final sales to domestic purchasers ............................................... 8.6 4.8 8.2 4.8 3.8 3.0 6.3 5.2 4.1 5.0 2.6 4.3 1.5 –9.0 –7.7 Previously published.................................................................. 9.4 5.0 7.8 5.3 3.9 2.1 5.9 5.9 4.2 3.9 3.7 5.7 2.2 –9.9 –6.4 GNP............................................................................................... 7.7 4.6 8.6 4.9 2.8 5.1 5.3 6.3 7.1 5.8 0.6 2.3 2.2 –6.7 –4.8 Previously published.................................................................. 8.4 4.2 8.7 5.6 3.0 4.1 4.0 6.4 7.9 3.9 2.6 3.4 3.7 –5.0 –3.0 Disposable personal income ......................................................... 7.1 5.8 9.5 6.7 4.9 5.3 5.5 3.7 4.1 5.2 1.2 14.1 –4.2 –1.8 –0.4 Previously published.................................................................. 3.4 11.1 6.9 4.6 5.4 5.3 7.9 3.0 5.7 4.9 2.9 15.4 –3.9 –2.1 5.0 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. Table 1B. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income Billions of dollars 1997 Gross domestic product (GDP).............................................. Personal consumption expenditures.................................................. Gross private domestic investment.................................................... Fixed investment............................................................................ Nonresidential ........................................................................... Structures.............................................................................. Equipment and software........................................................ 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............................................................................... Relation of GDP and national income Gross domestic product ................................................................. Plus: Income receipts from the rest of the world ............................... Less: Income payments to the rest of the world ................................ Equals: Gross national product ..................................................... Less: Consumption of fixed capital.................................................... Less: Statistical discrepancy ............................................................. Equals: National income................................................................. Compensation of employees ......................................................... Wage and salary accruals ......................................................... Supplements to wages and salaries.......................................... Proprietors’ income with inventory valuation and capital consumption adjustments.......................................................... Rental income of persons with capital consumption adjustment Corporate profits with inventory valuation and capital consumption adjustments.......................................................... Net interest and miscellaneous payments..................................... Taxes on production and imports less subsidies ........................... Business current transfer payments (net)...................................... Current surplus of government enterprises................................... Disposition of personal income Personal income.............................................................................. Compensation of employees, received.......................................... Wage and salary disbursements ............................................... Supplements to wages and salaries.......................................... Proprietors’ income with inventory valuation and capital consumption adjustments.......................................................... Farm .......................................................................................... Nonfarm..................................................................................... Rental income of persons with capital consumption adjustment Personal income receipts on assets.............................................. Personal interest income ........................................................... Personal dividend income ......................................................... Personal current transfer receipts.................................................. Less: Contributions for government social insurance, domestic.... Less: Personal current taxes ............................................................. Equals: Disposable personal income............................................ Less: Personal outlays....................................................................... Equals: Personal saving ................................................................. Personal saving as a percentage of disposable personal income Addenda: Statistical discrepancy as a percentage of GDP ........................... Gross domestic income................................................................. 1998 1999 2000 2001 2002 2003 Percent of previously published 2004 2005 2006 2007 2008 1997 2002 2008 28.1 23.2 –1.1 –0.1 –0.1 0.0 0.0 0.0 –1.0 0.2 –0.9 0.0 –0.9 –1.1 0.4 –1.4 5.7 0.1 0.2 –0.2 5.7 46.5 39.0 1.7 8.7 8.5 –0.1 8.7 0.1 –7.1 –1.9 –2.0 0.0 –2.1 –0.2 1.8 –2.0 7.8 0.6 0.4 0.2 7.1 85.1 60.3 15.8 21.9 21.0 1.7 19.3 0.9 –6.1 –1.6 –1.9 0.0 –1.9 –0.3 2.2 –2.6 10.5 –0.9 0.5 –1.4 11.3 134.5 91.0 36.7 38.7 36.6 4.9 31.6 2.1 –2.0 –2.6 –3.1 0.0 –3.0 –0.5 3.0 –3.5 9.4 –2.7 0.7 –3.5 12.1 158.2 93.8 47.6 54.1 51.0 7.1 43.9 3.1 –6.6 –4.0 –5.1 0.0 –5.1 –1.1 3.8 –4.9 20.8 –1.2 0.4 –1.6 21.9 172.7 88.5 64.9 64.7 59.1 3.6 55.6 5.6 0.1 –2.8 –2.9 2.7 –5.7 –0.1 4.6 –4.7 22.2 0.9 0.6 0.4 21.2 181.3 100.4 65.6 63.5 58.3 4.7 53.6 5.2 2.1 –4.7 0.2 2.4 –2.2 4.9 5.4 –0.3 20.1 0.1 0.7 –0.7 20.1 181.9 89.2 80.0 73.6 68.5 8.5 60.1 5.1 6.3 –3.3 –2.2 –1.3 –0.9 1.1 2.2 –1.0 16.0 –1.0 0.1 –1.0 17.0 216.5 124.9 86.1 79.5 74.2 14.2 60.1 5.4 6.7 –9.1 –6.4 –2.3 –4.1 2.7 2.7 0.0 14.6 0.8 0.9 –0.1 13.8 220.5 115.5 106.8 96.1 91.2 23.3 68.0 4.9 10.7 –12.0 –9.8 –7.7 –2.1 2.2 2.2 0.0 10.3 –0.5 0.8 –1.2 10.8 270.1 116.2 158.1 135.1 136.4 55.1 81.3 –1.2 23.0 –6.0 –6.5 –9.8 3.3 –0.5 2.5 –3.0 1.7 –2.6 –0.1 –2.6 4.3 176.8 0.3 1.6 1.2 72.0 0.4 1.2 0.7 142.6 –0.1 4.1 7.2 130.3 0.0 4.1 6.4 140.8 0.0 5.5 9.1 56.1 0.0 1.3 10.1 84.7 0.0 7.1 8.5 –10.5 0.0 1.1 –2.2 12.2 .............. .............. .............. –38.6 .............. .............. .............. –28.3 –0.1 –0.3 –1.5 –16.2 0.0 0.4 –1.3 –12.1 –0.3 –1.8 –2.1 10.3 –0.1 0.0 0.4 11.2 0.0 0.4 0.5 –1.0 –0.8 –2.0 –0.2 0.8 0.4 1.1 0.0 10.7 0.0 0.1 1.0 3.0 0.1 0.1 0.4 7.7 –0.1 0.2 2.3 –9.8 0.6 1.7 –0.5 28.1 –7.2 2.4 18.5 –10.6 –84.7 113.8 3.9 –1.1 5.0 46.5 –0.9 3.1 42.5 –9.7 –70.7 122.8 3.8 –1.8 5.6 85.1 –1.3 4.7 79.1 –6.9 –35.4 121.3 –3.2 –6.2 3.1 134.5 –2.2 –0.9 133.3 –3.5 –6.8 143.7 6.1 –1.5 7.8 158.2 0.6 –7.7 166.5 –25.3 –13.8 205.4 37.2 9.4 27.8 172.7 7.8 –10.6 191.2 13.0 –1.1 179.2 19.6 16.4 3.2 181.3 16.5 4.6 193.2 17.6 –32.2 207.9 57.2 26.9 30.3 181.9 11.1 –3.9 196.9 –3.3 –26.9 227.2 37.0 31.2 5.8 216.5 –0.5 –4.6 220.6 –70.6 –8.5 299.8 34.2 29.3 5.0 220.5 –4.3 1.5 214.7 36.8 –57.6 235.5 43.2 41.6 1.6 270.1 0.1 –13.3 283.3 39.5 66.6 177.3 44.2 46.9 –2.8 176.8 0.3 1.6 1.2 10.9 –2.5 2.6 1.4 2.2 0.9 –3.9 0.3 185.5 0.2 1.8 1.3 14.8 –1.1 1.0 0.8 –37.1 .............. .............. .............. 207.8 1.6 1.9 1.7 –15.4 0.1 0.3 –0.2 –7.2 0.0 0.3 –0.1 –8.2 0.6 0.3 –0.5 52.2 47.7 59.7 54.0 68.5 60.9 89.1 65.0 98.8 65.0 121.9 65.8 119.3 71.2 122.2 80.0 110.0 137.3 118.3 102.2 40.2 104.9 33.9 146.0 16.3 –8.0 –1.3 1.4 1.5 10.8 –7.8 –1.3 0.5 3.0 5.0 –14.0 –1.4 1.6 4.0 1.3 –19.7 –1.9 –0.1 3.8 16.9 –21.9 –4.3 8.5 5.4 –14.1 –14.5 –3.0 –1.9 5.4 –15.3 –20.6 –1.6 –7.7 5.3 15.7 –29.6 –2.2 –1.3 5.4 8.2 –26.1 0.4 25.9 9.9 –60.2 21.0 9.1 –2.4 4.4 –100.7 74.8 10.8 2.0 1.3 85.6 4.0 –1.0 5.0 102.4 3.8 –1.8 5.6 108.4 –3.2 –6.3 3.1 129.7 6.1 –1.5 7.8 159.2 37.2 9.4 27.8 178.2 19.6 16.4 3.2 214.5 57.2 26.9 30.3 210.0 37.0 31.2 5.8 216.1 34.2 29.3 5.0 274.2 43.1 41.7 1.6 230.9 44.1 46.9 –2.8 52.2 –1.6 53.8 47.7 –16.2 –12.9 –3.3 –2.0 0.0 –0.1 85.8 23.7 62.1 1.0 59.7 –0.5 60.3 54.0 –14.0 –13.9 –0.1 –0.7 0.5 –0.6 103.0 38.4 64.7 1.0 68.5 –0.1 68.6 60.9 –17.4 –17.7 0.3 –0.5 –0.1 0.0 108.3 59.1 49.2 0.7 89.1 6.9 82.1 65.0 –26.3 –26.8 0.4 –1.0 3.1 –3.4 133.2 88.5 44.6 0.6 98.8 10.8 88.0 65.0 –34.0 –34.5 0.5 –5.8 2.1 –2.5 161.7 89.0 72.6 0.9 121.9 7.9 114.0 65.8 –23.6 –24.2 0.5 –4.1 1.5 –1.4 179.6 82.2 97.5 1.1 119.3 7.3 112.0 71.2 –23.7 –24.3 0.5 –9.3 0.3 –0.8 215.3 100.3 114.9 1.4 122.2 12.4 109.8 80.0 –23.6 –34.9 11.3 –7.0 –1.5 1.5 208.5 86.5 122.0 1.3 110.0 9.8 100.2 137.3 –54.9 –35.0 –19.9 –12.1 –1.6 0.8 215.3 120.1 95.2 1.0 118.3 13.1 105.0 102.2 4.9 2.1 2.8 2.0 –3.7 –0.8 275.0 110.7 164.3 1.7 40.2 –4.6 44.7 104.9 31.4 52.1 –20.7 4.7 –5.8 –1.9 232.6 111.2 121.5 1.1 33.9 9.1 15.9 3.2 14.1 –4.7 74.5 40.8 19.6 9.9 15.0 1.9 146.0 37.0 43.0 226.7 –43.3 –1.4 –1.8 –2.1 99.5 –1.5 –2.6 8.2 –142.7 –1.0 0.1 –17.2 6.8 –0.2 –0.3 0.4 –5.1 0.0 0.2 –0.5 –24.9 0.0 –0.1 –1.7 163.1 1.4 2.3 1.5 69.3 0.4 1.1 0.7 93.7 .............. .............. .............. 0.9 .............. .............. .............. –1.1 112.6 –0.8 117.2 –0.4 120.5 0.0 141.4 –0.1 171.9 0.0 173.8 –0.3 213.5 –0.3 208.8 0.0 225.0 –0.4 278.1 0.5 203.5 –0.3 .............. .............. .............. 213.9 1.4 1.7 1.5 9.1 37.0 15.9 43.0 3.2 226.7 –116.1 1.9 –1.6 –7.9 132.4 –1.9 –2.8 19.4 10.7 –0.2 –0.4 1.1 15.2 2.8 –2.3 14.7 1.2 .............. .............. .............. 138.2 –10.4 –2.1 –8.2 1.2 0.1 0.0 0.6 2.0 0.3 0.3 0.3 1.1 –0.1 0.0 –0.5 Table 2. Contributions to Percent Change in Real Gross Domestic Product—Continues Seasonally adjusted at annual rates 1998 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 off-premises consumption Clothing and footwear ........................................................... Gasoline and other energy goods ......................................... Other nondurable goods........................................................ Services........................................................................................ Household consumption expenditures (for services) ................ Housing and utilities .............................................................. Health care............................................................................ Transportation services ......................................................... Recreation services............................................................... Food services and accommodations..................................... Financial services and insurance .......................................... Other services ....................................................................... Final consumption expenditures of nonprofit institutions serving households ............................................................... Gross output of nonprofit institutions..................................... Less: Receipts from sales of goods and services by nonprofit institutions .......................................................... Gross private domestic investment............................................... Fixed investment ......................................................................... Nonresidential ........................................................................... Structures.............................................................................. Equipment and software........................................................ Information processing equipment and software............... Computers and peripheral equipment........................... Software ........................................................................ Other ............................................................................. Industrial equipment.......................................................... Transportation equipment.................................................. Other equipment ............................................................... Residential................................................................................. Change in private inventories .................................................... Farm .......................................................................................... Nonfarm..................................................................................... Net exports of goods and services................................................ Exports......................................................................................... Goods........................................................................................ Services .................................................................................... Imports ......................................................................................... Goods........................................................................................ Services .................................................................................... Government consumption expenditures and gross investment Federal.......................................................................................... National defense ....................................................................... Consumption expenditures.................................................... Gross investment .................................................................. Nondefense ............................................................................... Consumption expenditures.................................................... Gross investment .................................................................. State and local ............................................................................. Consumption expenditures........................................................ Gross investment....................................................................... Addenda: Goods............................................................................................ Services ........................................................................................ Structures...................................................................................... Motor vehicle output ...................................................................... Final sales of computers ............................................................... See “Explanatory Note” at the end of the tables. 1999 4.4 4.8 3.50 1.61 1.03 0.36 0.16 0.40 0.10 0.58 3.68 1.90 1.13 0.33 0.23 0.45 0.13 0.77 2000 2002 2003 1.1 1.8 2.5 3.44 1.85 1.29 0.77 0.79 0.49 0.12 0.18 0.19 0.10 0.38 0.22 0.10 –0.02 0.50 0.28 1.85 0.99 0.69 0.19 0.15 0.27 0.07 0.30 0.07 0.18 0.06 0.27 1.90 1.76 0.37 0.31 0.11 0.08 0.11 0.33 0.45 2004 3.6 2005 3.1 2006 2007 2008 2005 I II III 2.8 2.9 3.0 2.40 1.15 0.70 0.16 0.19 0.33 0.02 0.45 2.1 1.97 1.11 0.55 0.10 0.13 0.26 0.05 0.56 2.42 2.34 2.01 1.08 0.97 0.78 0.59 0.45 0.35 0.05 –0.01 –0.10 0.17 0.12 0.11 0.31 0.29 0.30 0.06 0.06 0.04 0.49 0.52 0.44 1.84 0.75 0.36 0.04 0.04 0.26 0.01 0.39 –0.17 2.68 1.53 –0.50 0.99 0.42 –0.36 0.40 0.26 –0.38 –0.01 –0.06 –0.06 0.11 0.11 0.13 0.27 0.21 –0.05 0.03 –0.01 –0.13 0.58 0.17 0.21 0.12 0.06 0.01 0.19 0.14 0.03 0.08 0.05 –0.03 0.01 0.03 0.32 0.27 0.18 0.18 1.78 2.15 1.09 0.86 1.67 2.03 0.96 0.69 0.38 0.37 0.33 0.09 0.15 0.32 0.46 0.57 0.14 0.12 –0.02 –0.07 0.12 0.08 0.00 0.02 0.10 0.19 –0.01 0.06 0.45 0.54 –0.04 –0.02 0.32 0.42 0.24 0.04 0.12 0.14 0.05 0.25 0.86 0.77 0.16 0.23 0.01 0.08 0.14 0.00 0.16 0.14 0.21 0.17 0.12 0.15 0.12 0.03 –0.01 –0.05 0.20 0.17 0.20 1.34 1.37 1.22 1.35 1.40 1.06 0.27 0.57 0.27 0.33 0.39 0.19 0.06 0.02 –0.01 0.13 0.05 0.08 0.13 0.14 0.13 0.28 0.17 0.18 0.15 0.07 0.21 0.11 0.11 0.02 0.16 1.09 1.02 0.12 0.27 0.03 0.10 0.05 0.28 0.18 0.00 0.38 0.04 0.12 –0.01 0.27 –0.12 0.14 –0.12 –0.03 0.02 –0.05 –0.01 –0.03 0.23 0.25 0.32 1.69 1.11 1.25 0.16 1.67 1.17 1.29 0.12 0.27 0.27 0.27 0.31 0.28 0.45 0.55 –0.11 0.07 0.08 0.02 0.00 0.18 0.11 0.05 –0.02 0.12 0.00 0.09 –0.10 0.46 0.12 0.13 –0.04 0.30 0.15 0.17 0.13 0.31 0.11 0.22 0.12 0.25 0.13 0.31 0.17 0.39 0.09 –0.01 –0.03 0.11 0.14 0.11 0.17 1.65 1.70 1.38 0.16 1.22 0.86 0.39 0.26 0.21 0.07 0.15 0.14 0.32 –0.05 –0.02 –0.03 –1.18 0.26 0.18 0.08 –1.43 –1.21 –0.22 0.38 –0.07 –0.09 –0.10 0.01 0.02 –0.02 0.03 0.45 0.38 0.06 0.11 1.50 1.52 1.24 0.00 1.24 0.90 0.37 0.33 0.19 0.01 0.29 0.04 0.28 –0.02 –0.05 0.03 –0.99 0.47 0.29 0.18 –1.45 –1.31 –0.14 0.63 0.12 0.07 0.05 0.02 0.04 0.01 0.03 0.51 0.34 0.17 0.12 1.19 1.24 1.20 0.24 0.96 0.78 0.21 0.23 0.35 0.14 –0.04 0.08 0.05 –0.05 0.01 –0.07 –0.85 0.91 0.82 0.08 –1.76 –1.52 –0.24 0.36 0.03 –0.02 –0.03 0.01 0.05 0.08 –0.03 0.33 0.21 0.12 0.18 –1.24 –0.32 –0.35 –0.05 –0.30 –0.02 0.02 0.01 –0.06 –0.12 –0.15 –0.01 0.03 –0.92 0.02 –0.93 –0.20 –0.61 –0.48 –0.13 0.41 0.39 0.02 0.67 0.24 0.14 0.12 0.02 0.09 0.10 0.00 0.43 0.32 0.11 0.23 –0.22 –0.70 –0.94 –0.58 –0.36 –0.12 0.04 0.00 –0.15 –0.10 –0.14 –0.01 0.24 0.48 –0.02 0.50 –0.65 –0.20 –0.25 0.05 –0.46 –0.42 –0.04 0.84 0.44 0.28 0.22 0.06 0.15 0.13 0.03 0.40 0.32 0.08 0.02 0.55 0.49 0.10 –0.10 0.20 0.26 0.06 0.12 0.08 0.00 –0.12 0.06 0.40 0.06 0.03 0.03 –0.45 0.15 0.12 0.03 –0.60 –0.55 –0.04 0.42 0.43 0.36 0.31 0.05 0.07 0.06 0.00 –0.01 –0.03 0.02 0.15 1.55 1.13 0.61 0.03 0.58 0.35 0.08 0.17 0.11 –0.04 0.19 0.08 0.52 0.42 0.07 0.35 –0.66 0.89 0.55 0.34 –1.55 –1.29 –0.26 0.26 0.28 0.26 0.21 0.05 0.02 0.03 0.00 –0.02 0.00 –0.02 2.23 1.54 –0.50 0.51 2.22 2.26 1.51 1.54 0.38 0.34 0.07 –0.24 0.37 –0.06 –0.16 0.39 0.41 0.30 0.13 0.03 0.98 1.19 0.31 0.04 0.12 1.44 1.65 0.49 0.14 0.03 0.15 0.92 1.05 0.69 0.04 0.65 0.27 0.07 0.11 0.09 0.10 0.16 0.12 0.36 –0.13 –0.07 –0.06 –0.27 0.67 0.52 0.15 –0.94 –0.87 –0.07 0.06 0.09 0.07 0.04 0.03 0.02 0.01 0.01 –0.03 0.04 –0.07 0.4 2004 2.7 1.86 2.02 0.47 0.31 0.42 4.1 2001 0.17 0.21 0.07 0.18 0.16 0.24 0.04 0.46 0.39 0.84 0.27 0.58 0.31 0.13 0.07 0.10 0.10 0.12 0.05 –0.45 0.07 –0.03 0.10 –0.05 0.93 0.68 0.25 –0.98 –0.80 –0.18 0.26 0.15 0.07 0.03 0.04 0.07 0.05 0.02 0.11 0.07 0.04 0.11 –0.65 –0.35 0.70 0.49 0.20 0.29 0.11 0.11 0.08 0.06 –0.14 –0.01 –1.05 –0.30 0.03 –0.33 0.63 0.96 0.57 0.39 –0.33 –0.24 –0.09 0.32 0.09 0.10 0.07 0.04 –0.01 –0.02 0.00 0.23 0.17 0.06 0.09 –1.18 –0.81 0.19 0.39 –0.20 0.22 0.05 0.11 0.06 –0.05 –0.35 –0.03 –1.00 –0.37 –0.04 –0.33 1.20 0.64 0.48 0.16 0.56 0.58 –0.02 0.59 0.53 0.37 0.27 0.10 0.16 0.14 0.02 0.06 0.07 –0.01 0.03 –0.06 –0.04 0.17 0.16 0.25 0.14 0.35 –0.12 –0.31 –0.06 –0.25 0.05 –0.06 0.09 0.02 –0.20 –0.05 –0.05 0.19 0.46 0.20 0.27 –0.54 0.91 0.43 0.48 –1.45 –1.13 –0.32 0.36 0.35 0.27 0.27 0.00 0.08 0.10 –0.01 0.01 0.06 –0.05 0.22 2.79 1.93 1.09 0.12 0.97 0.26 0.07 0.05 0.14 0.11 0.48 0.12 0.83 0.87 0.50 0.37 –1.73 0.61 0.45 0.16 –2.34 –2.12 –0.22 0.28 0.16 0.09 0.05 0.05 0.06 0.02 0.04 0.12 0.04 0.08 1.22 1.40 1.01 0.11 0.51 0.71 1.54 1.45 1.61 0.94 2.28 1.15 0.30 –0.18 –0.49 –0.61 0.06 1.00 0.13 –0.04 –0.04 –0.52 0.11 –0.21 0.11 0.14 0.13 0.12 –0.18 0.00 0.29 0.88 1.36 1.12 0.10 1.02 0.29 0.11 0.21 –0.04 0.15 0.41 0.18 0.24 –0.48 –0.34 –0.14 –0.59 0.29 0.34 –0.05 –0.88 –0.82 –0.06 0.28 0.48 0.54 0.38 0.16 –0.05 –0.03 –0.02 –0.20 0.00 –0.20 IV 3.5 I II 4.1 1.7 3.23 2.11 1.23 0.95 0.58 0.24 0.13 –0.24 0.08 0.07 0.28 0.34 0.09 0.06 0.64 0.71 III 3.1 IV 2.1 2.68 1.99 0.71 1.35 0.74 –0.29 0.98 0.41 –0.89 0.48 0.12 –1.53 0.13 0.14 0.21 0.27 0.18 0.35 0.10 –0.02 0.09 0.38 0.33 0.60 0.28 0.30 0.07 0.36 0.15 0.21 0.15 0.23 0.01 0.31 0.02 0.11 –0.10 –0.12 –0.08 0.14 0.16 0.18 0.07 0.22 2.00 1.16 1.32 1.25 0.99 1.96 1.31 1.32 1.27 0.88 0.81 0.62 0.67 0.52 0.26 0.36 0.51 0.21 0.33 0.18 0.05 0.00 0.03 0.03 –0.07 0.02 0.10 0.01 0.01 0.06 0.16 0.09 0.25 0.09 0.18 0.52 –0.11 0.24 0.21 0.07 0.04 0.10 –0.10 0.09 0.19 0.04 –0.15 0.21 0.04 0.17 1.40 1.10 0.92 0.01 0.91 0.31 0.14 0.20 –0.03 0.10 0.40 0.11 0.18 0.30 –0.11 0.40 –0.65 0.90 0.43 0.47 –1.56 –1.33 –0.23 –0.46 –0.34 –0.47 –0.41 –0.06 0.13 0.13 –0.01 –0.11 0.06 –0.18 0.19 1.47 0.81 0.38 0.19 0.19 0.21 –0.05 0.03 0.23 0.12 –0.22 0.08 0.43 0.66 –0.35 1.00 0.39 0.75 0.57 0.18 –0.36 –0.45 0.10 0.08 0.12 0.17 0.21 –0.05 –0.05 –0.05 0.00 –0.04 0.04 –0.07 1.40 1.58 1.49 2.03 0.09 –0.10 0.61 –0.04 0.04 0.18 1.85 1.64 0.57 0.04 0.05 0.01 –0.03 0.02 0.07 0.01 –1.23 1.17 0.61 –0.04 0.65 0.30 0.08 0.17 0.04 –0.06 0.19 0.23 0.56 –2.39 0.23 –2.63 0.19 0.87 0.92 –0.05 –0.68 –0.62 –0.06 0.08 0.02 0.14 0.03 0.11 –0.12 –0.12 0.00 0.06 0.02 0.04 0.10 0.76 0.86 0.61 –0.24 0.84 0.33 0.11 0.04 0.17 0.20 0.31 0.01 0.25 –0.09 0.14 –0.23 –0.36 0.01 –0.08 0.09 –0.37 –0.34 –0.03 0.68 0.65 0.50 0.42 0.08 0.15 0.06 0.08 0.04 0.10 –0.06 0.12 0.18 0.07 2.46 0.25 0.25 0.07 0.18 0.15 0.18 0.01 –0.04 0.20 –0.22 0.04 0.01 2.21 –0.06 2.27 –0.74 1.03 0.81 0.23 –1.78 –1.55 –0.23 –0.34 –0.47 –0.72 –0.65 –0.07 0.25 0.15 0.10 0.13 –0.01 0.14 0.09 1.22 1.41 1.14 1.89 0.49 0.48 –0.03 0.19 0.21 0.72 –1.03 0.18 0.10 0.19 Table 2. Contributions to Percent Change in Real Gross Domestic Product—Table Ends Seasonally adjusted at annual rates 2006 I 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 off-premises consumption Clothing and footwear ........................................................... Gasoline and other energy goods ......................................... Other nondurable goods........................................................ Services........................................................................................ Household consumption expenditures (for services) ................ Housing and utilities .............................................................. Health care............................................................................ Transportation services ......................................................... Recreation services............................................................... Food services and accommodations..................................... Financial services and insurance .......................................... Other services ....................................................................... Final consumption expenditures of nonprofit institutions serving households ............................................................... Gross output of nonprofit institutions..................................... Less: Receipts from sales of goods and services by nonprofit institutions .......................................................... Gross private domestic investment............................................... Fixed investment ......................................................................... Nonresidential ........................................................................... Structures.............................................................................. Equipment and software........................................................ Information processing equipment and software............... Computers and peripheral equipment........................... Software ........................................................................ Other ............................................................................. Industrial equipment.......................................................... Transportation equipment.................................................. Other equipment ............................................................... Residential................................................................................. Change in private inventories .................................................... Farm .......................................................................................... Nonfarm..................................................................................... Net exports of goods and services................................................ Exports......................................................................................... Goods........................................................................................ Services .................................................................................... Imports ......................................................................................... Goods........................................................................................ Services .................................................................................... Government consumption expenditures and gross investment Federal.......................................................................................... National defense ....................................................................... Consumption expenditures.................................................... Gross investment .................................................................. Nondefense ............................................................................... Consumption expenditures.................................................... Gross investment .................................................................. State and local ............................................................................. Consumption expenditures........................................................ Gross investment....................................................................... Addenda: Goods............................................................................................ Services ........................................................................................ Structures...................................................................................... Motor vehicle output ...................................................................... Final sales of computers ............................................................... See “Explanatory Note” at the end of the tables. II 2007 III IV I II 2008 III IV I II 2009 III IV I II 5.4 1.4 0.1 3.0 1.2 3.2 3.6 2.1 –0.7 1.5 –2.7 –5.4 –6.4 –1.0 3.08 1.76 1.35 0.46 0.22 0.53 0.14 0.41 1.48 0.15 –0.09 0.00 –0.09 0.06 –0.05 0.24 1.70 0.78 0.37 0.21 0.04 0.18 –0.06 0.40 2.79 1.39 0.46 –0.02 0.04 0.44 0.01 0.93 2.54 0.93 0.45 0.08 0.15 0.22 0.00 0.48 0.81 0.05 0.18 0.05 –0.08 0.16 0.05 –0.13 1.35 0.75 0.42 –0.10 0.07 0.38 0.07 0.33 0.86 0.71 0.44 0.06 0.06 0.33 –0.01 0.27 –0.39 –1.24 –0.75 –0.50 –0.13 –0.04 –0.07 –0.49 0.06 –0.12 –0.46 –0.63 0.05 0.25 –0.13 0.35 –2.49 –1.89 –0.95 –0.64 –0.22 –0.06 –0.03 –0.94 –2.15 –2.41 –1.64 –0.84 –0.27 –0.30 –0.21 –0.78 0.44 0.56 0.28 0.14 –0.13 0.20 0.07 0.29 –0.88 –0.92 –0.52 –0.27 –0.15 –0.09 –0.02 –0.40 0.06 0.14 –0.13 0.35 1.32 1.12 –0.13 0.32 –0.06 0.12 0.36 0.21 0.28 0.23 –0.07 0.03 0.06 1.33 1.04 0.58 0.06 0.05 0.05 –0.19 0.16 0.32 0.07 0.14 0.10 0.10 0.92 0.59 0.30 –0.11 –0.01 0.13 0.00 0.13 0.15 0.33 0.17 0.00 0.43 1.40 1.38 –0.16 0.37 0.09 0.22 0.18 0.40 0.28 0.10 0.19 0.05 0.14 1.61 1.69 0.21 0.53 0.05 0.08 0.03 0.43 0.36 –0.14 –0.02 –0.01 0.03 0.76 0.88 0.03 0.20 0.01 0.04 0.04 0.42 0.14 0.09 0.11 0.01 0.11 0.60 0.34 0.14 0.18 –0.03 0.08 0.05 0.08 –0.16 0.22 0.05 –0.10 0.10 0.15 –0.14 –0.04 0.30 –0.07 0.00 0.09 –0.25 –0.17 0.05 –0.04 –0.23 –0.27 0.85 0.70 0.33 0.65 –0.17 –0.01 –0.10 –0.13 0.13 0.03 0.16 –0.11 0.27 0.17 0.13 0.11 0.28 –0.15 0.04 0.11 –0.07 –0.18 –0.29 –0.27 –0.42 0.04 –0.60 –0.79 –0.18 –0.06 –0.11 –0.08 –0.11 –0.16 –0.09 –0.41 –0.21 0.27 –0.43 0.26 0.06 0.46 0.19 –0.17 –0.10 –0.35 –0.24 0.27 0.03 –0.04 0.17 0.12 –0.13 0.34 0.02 0.37 –0.15 0.05 –0.07 0.03 0.10 0.25 –0.16 –0.03 –0.45 0.04 0.18 –0.11 0.24 0.00 –0.02 –0.09 0.16 0.00 0.20 0.35 0.29 0.23 0.34 0.15 0.01 0.19 –0.08 0.30 –0.12 0.01 0.26 0.13 0.28 0.34 0.15 0.44 0.05 0.17 0.18 0.07 0.20 0.24 –0.46 –0.22 –0.14 –0.07 0.15 1.08 1.57 1.84 0.52 1.32 0.59 0.16 0.07 0.36 –0.06 0.62 0.17 –0.27 –0.49 0.04 –0.53 0.44 1.64 1.23 0.41 –1.20 –0.81 –0.39 0.75 0.79 0.46 0.40 0.06 0.32 0.30 0.02 –0.03 0.02 –0.05 –0.05 –0.11 –0.32 0.80 0.63 0.17 0.10 0.09 0.07 –0.07 0.34 –0.26 –0.01 –1.12 0.22 –0.36 0.58 0.02 0.72 0.54 0.18 –0.70 –0.66 –0.05 0.06 –0.24 0.05 –0.11 0.15 –0.29 –0.23 –0.07 0.30 0.08 0.22 –0.19 –0.99 –0.86 0.49 0.32 0.17 0.34 0.16 0.11 0.06 –0.05 –0.01 –0.11 –1.36 –0.13 0.06 –0.19 –0.71 0.06 0.01 0.05 –0.78 –0.74 –0.04 0.11 –0.03 –0.09 0.02 –0.11 0.06 0.06 0.01 0.14 0.18 –0.04 0.18 –1.99 –0.91 0.27 0.05 0.22 0.11 0.01 0.13 –0.03 0.03 0.05 0.03 –1.18 –1.08 0.08 –1.15 1.94 1.84 0.96 0.87 0.10 0.35 –0.25 0.21 0.08 0.38 0.24 0.14 –0.30 –0.30 0.00 0.14 0.24 –0.10 0.37 –1.05 –0.43 0.46 0.50 –0.04 0.46 0.18 0.07 0.22 –0.10 –0.22 –0.18 –0.89 –0.61 0.27 –0.88 –0.29 0.39 0.23 0.16 –0.68 –0.67 –0.01 0.00 –0.36 –0.37 –0.31 –0.06 0.01 0.02 –0.01 0.36 0.18 0.18 0.13 0.92 0.59 1.25 0.75 0.51 0.19 0.02 0.12 0.05 0.45 –0.30 0.16 –0.66 0.32 –0.31 0.64 0.66 0.58 0.48 0.10 0.08 0.13 –0.05 0.82 0.50 0.39 0.24 0.15 0.11 0.08 0.03 0.32 0.21 0.11 –0.14 0.14 –0.04 1.10 0.91 0.19 0.32 0.13 0.11 0.08 –0.03 –0.18 0.08 –1.14 0.19 0.06 0.13 1.36 1.99 1.11 0.88 –0.63 –0.41 –0.22 0.75 0.63 0.46 0.43 0.03 0.17 0.14 0.03 0.11 0.09 0.02 0.06 –1.29 –0.66 0.78 0.42 0.36 0.53 0.20 0.20 0.12 –0.22 0.00 0.05 –1.44 –0.63 0.03 –0.66 2.24 1.65 0.97 0.68 0.60 0.51 0.08 0.31 0.19 0.03 0.03 0.00 0.16 0.16 0.00 0.12 0.07 0.05 0.29 –1.20 –0.99 0.25 0.27 –0.02 0.39 0.12 0.22 0.05 0.02 –0.27 –0.16 –1.24 –0.21 –0.29 0.08 0.36 –0.02 0.34 –0.36 0.38 0.46 –0.08 0.51 0.56 0.39 0.27 0.11 0.17 0.18 –0.01 –0.05 0.07 –0.13 0.12 –1.66 –0.41 0.19 0.56 –0.38 0.26 0.03 0.09 0.14 –0.02 –0.58 –0.04 –0.60 –1.25 0.34 –1.59 2.35 1.47 1.17 0.30 0.88 0.67 0.21 0.71 0.55 0.34 0.10 0.24 0.21 0.16 0.05 0.15 0.02 0.14 –0.11 –1.04 –1.30 –0.73 0.00 –0.73 –0.17 –0.19 –0.06 0.07 –0.15 –0.54 0.13 –0.57 0.26 –0.09 0.35 –0.10 –0.48 –0.17 –0.31 0.38 0.55 –0.17 0.95 0.93 0.93 0.81 0.13 0.00 –0.02 0.02 0.01 0.08 –0.06 0.04 –3.91 –3.28 –2.47 –0.31 –2.15 –0.70 –0.19 –0.17 –0.34 –0.20 –0.87 –0.38 –0.81 –0.64 0.10 –0.74 0.45 –2.67 –2.50 –0.17 3.12 3.09 0.03 0.24 0.49 0.20 0.15 0.05 0.29 0.16 0.13 –0.25 0.04 –0.28 0.24 –8.98 –6.62 –5.29 –2.28 –3.01 –0.79 –0.08 –0.47 –0.24 –0.82 –0.92 –0.48 –1.33 –2.36 0.05 –2.41 2.64 –3.95 –3.41 –0.54 6.58 6.25 0.34 –0.52 –0.33 –0.27 –0.22 –0.05 –0.06 0.06 –0.11 –0.19 –0.04 –0.15 0.06 –2.64 –1.82 –0.94 –0.34 –0.59 –0.16 0.02 –0.22 0.03 –0.18 0.14 –0.39 –0.88 –0.83 0.07 –0.89 1.38 –0.76 –0.68 –0.09 2.14 1.82 0.32 1.12 0.82 0.67 0.52 0.15 0.15 0.15 0.00 0.30 –0.01 0.31 3.17 2.07 0.11 0.43 0.18 0.52 1.20 –0.27 –0.25 0.11 0.03 1.19 –1.12 0.12 0.07 1.94 2.19 –1.18 –0.33 0.13 –0.22 1.65 –0.23 –0.03 0.02 1.64 1.34 0.24 0.17 0.15 1.88 1.92 –0.21 0.10 0.29 1.95 1.17 –1.00 –0.30 0.19 –0.55 0.94 –1.12 –0.64 0.06 0.36 0.96 0.13 –1.08 0.16 –1.91 –0.22 –0.55 –0.15 –0.02 –4.54 0.46 –1.30 –1.41 0.02 –2.19 –0.53 –3.70 –1.69 0.06 –1.08 0.94 –0.88 0.20 –0.04 Table 2A. Contributions to Percent Change in Real Gross Domestic Product—Continues Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I Percent change at annual rate: Gross domestic product ............................................................. Previously published.................................................................. Percentage points at annual rates: Personal consumption expenditures............................................. Previously published...................................................................... Gross private domestic investment............................................... Previously published...................................................................... Fixed investment ......................................................................... Previously published.................................................................. Nonresidential ........................................................................... Previously published ............................................................. Structures.............................................................................. Previously published ......................................................... Equipment and software........................................................ Previously published ......................................................... Information processing equipment and software............... Previously published ..................................................... Computers and peripheral equipment........................... Previously published ................................................. Software ........................................................................ Previously published ................................................. Other ............................................................................. Previously published ................................................. Industrial equipment.......................................................... Previously published ..................................................... Transportation equipment.................................................. Previously published ..................................................... Other equipment ............................................................... Previously published ..................................................... Residential................................................................................. Previously published ............................................................. Change in private inventories .................................................... Previously published.................................................................. Farm .......................................................................................... Previously published ............................................................. Nonfarm..................................................................................... Previously published ............................................................. Net exports of goods and services................................................ Previously published...................................................................... Exports......................................................................................... Previously published.................................................................. Goods........................................................................................ Previously published ............................................................. Services .................................................................................... Previously published ............................................................. Imports ......................................................................................... Previously published.................................................................. Goods........................................................................................ Previously published ............................................................. Services .................................................................................... Previously published ............................................................. Government consumption expenditures and gross investment Previously published...................................................................... Federal.......................................................................................... Previously published.................................................................. National defense ....................................................................... Previously published ............................................................. Consumption expenditures.................................................... Previously published ......................................................... Gross investment .................................................................. Previously published ......................................................... Nondefense ............................................................................... Previously published ............................................................. Consumption expenditures.................................................... Previously published ......................................................... Gross investment .................................................................. Previously published ......................................................... State and local ............................................................................. Previously published.................................................................. Consumption expenditures........................................................ Previously published ............................................................. Gross investment....................................................................... Previously published ......................................................... Addenda: Goods............................................................................................ Previously published.................................................................. Services ........................................................................................ Previously published.................................................................. Structures...................................................................................... Previously published.................................................................. Motor vehicle output ...................................................................... Previously published.................................................................. Final sales of computers ............................................................... Previously published.................................................................. II 2005 III IV I II 4.4 4.2 4.8 4.5 4.1 3.7 1.1 0.8 1.8 1.6 2.5 2.5 3.6 3.6 3.1 2.9 2.7 2.8 2.1 2.0 0.4 1.1 2.8 3.0 2.9 3.5 3.0 3.6 3.5 2.5 4.1 3.0 1.7 2.6 3.50 3.36 1.65 1.63 1.70 1.60 1.38 1.28 0.16 0.16 1.22 1.12 0.86 0.83 0.39 0.38 0.26 0.24 0.21 0.21 0.07 0.06 0.15 0.11 0.14 0.12 0.32 0.32 –0.05 0.03 –0.02 –0.02 –0.03 0.05 –1.18 –1.16 0.26 0.27 0.18 0.18 0.08 0.09 –1.43 –1.43 –1.21 –1.20 –0.22 –0.23 0.38 0.34 –0.07 –0.07 –0.09 –0.09 –0.10 –0.09 0.01 0.01 0.02 0.02 –0.02 –0.02 0.03 0.04 0.45 0.41 0.38 0.35 0.06 0.06 3.68 3.44 1.50 1.33 1.52 1.36 1.24 1.09 0.00 –0.01 1.24 1.11 0.90 0.85 0.37 0.37 0.33 0.30 0.19 0.18 0.01 0.00 0.29 0.25 0.04 0.01 0.28 0.27 –0.02 –0.03 –0.05 –0.05 0.03 0.02 –0.99 –0.99 0.47 0.47 0.29 0.29 0.18 0.18 –1.45 –1.46 –1.31 –1.31 –0.14 –0.15 0.63 0.67 0.12 0.14 0.07 0.08 0.05 0.05 0.02 0.02 0.04 0.06 0.01 0.04 0.03 0.02 0.51 0.54 0.34 0.36 0.17 0.18 3.44 3.17 1.19 0.99 1.24 1.09 1.20 1.06 0.24 0.21 0.96 0.85 0.78 0.75 0.21 0.20 0.23 0.20 0.35 0.35 0.14 0.12 –0.04 –0.07 0.08 0.05 0.05 0.03 –0.05 –0.10 0.01 0.02 –0.07 –0.12 –0.85 –0.86 0.91 0.93 0.82 0.84 0.08 0.09 –1.76 –1.79 –1.52 –1.55 –0.24 –0.25 0.36 0.36 0.03 0.05 –0.02 –0.02 –0.03 –0.03 0.01 0.01 0.05 0.07 0.08 0.10 –0.03 –0.03 0.33 0.31 0.21 0.18 0.12 0.13 1.85 1.74 –1.24 –1.39 –0.32 –0.50 –0.35 –0.52 –0.05 –0.07 –0.30 –0.44 –0.02 –0.08 0.02 0.02 0.01 –0.02 –0.06 –0.08 –0.12 –0.14 –0.15 –0.18 –0.01 –0.04 0.03 0.02 –0.92 –0.88 0.02 0.02 –0.93 –0.90 –0.20 –0.20 –0.61 –0.60 –0.48 –0.48 –0.13 –0.12 0.41 0.40 0.39 0.39 0.02 0.01 0.67 0.60 0.24 0.23 0.14 0.15 0.12 0.13 0.02 0.02 0.09 0.08 0.10 0.08 0.00 0.00 0.43 0.37 0.32 0.24 0.11 0.13 1.85 1.90 –0.22 –0.41 –0.70 –0.84 –0.94 –1.06 –0.58 –0.55 –0.36 –0.51 –0.12 –0.20 0.04 0.04 0.00 –0.04 –0.15 –0.19 –0.10 –0.11 –0.14 –0.16 –0.01 –0.04 0.24 0.22 0.48 0.43 –0.02 –0.02 0.50 0.45 –0.65 –0.69 –0.20 –0.23 –0.25 –0.28 0.05 0.06 –0.46 –0.46 –0.42 –0.41 –0.04 –0.05 0.84 0.80 0.44 0.43 0.28 0.29 0.22 0.23 0.06 0.06 0.15 0.14 0.13 0.12 0.03 0.02 0.40 0.37 0.32 0.29 0.08 0.08 1.97 1.94 0.55 0.54 0.49 0.51 0.10 0.10 –0.10 –0.11 0.20 0.21 0.26 0.22 0.06 0.09 0.12 0.07 0.08 0.05 0.00 0.04 –0.12 –0.12 0.06 0.07 0.40 0.41 0.06 0.04 0.03 0.03 0.03 0.00 –0.45 –0.44 0.15 0.12 0.12 0.12 0.03 0.00 –0.60 –0.56 –0.55 –0.56 –0.04 0.00 0.42 0.47 0.43 0.44 0.36 0.37 0.31 0.32 0.05 0.05 0.07 0.08 0.06 0.07 0.00 0.01 –0.01 0.02 –0.03 0.00 0.02 0.02 2.42 2.56 1.55 1.48 1.13 1.10 0.61 0.56 0.03 0.03 0.58 0.53 0.35 0.33 0.08 0.08 0.17 0.14 0.11 0.12 –0.04 –0.04 0.19 0.16 0.08 0.07 0.52 0.53 0.42 0.39 0.07 0.06 0.35 0.32 –0.66 –0.68 0.89 0.93 0.55 0.60 0.34 0.33 –1.55 –1.61 –1.29 –1.33 –0.26 –0.27 0.26 0.27 0.28 0.29 0.26 0.27 0.21 0.21 0.05 0.06 0.02 0.03 0.03 0.02 0.00 0.00 –0.02 –0.02 0.00 0.01 –0.02 –0.03 2.34 2.13 0.92 0.95 1.05 1.08 0.69 0.71 0.04 0.03 0.65 0.67 0.27 0.29 0.07 0.10 0.11 0.11 0.09 0.08 0.10 0.10 0.16 0.17 0.12 0.11 0.36 0.37 –0.13 –0.13 –0.07 –0.06 –0.06 –0.07 –0.27 –0.21 0.67 0.71 0.52 0.54 0.15 0.17 –0.94 –0.93 –0.87 –0.89 –0.07 –0.04 0.06 0.07 0.09 0.09 0.07 0.07 0.04 0.04 0.03 0.03 0.02 0.01 0.01 0.00 0.01 0.01 –0.03 –0.01 0.04 0.01 –0.07 –0.03 2.01 2.13 0.46 0.35 0.39 0.32 0.84 0.77 0.27 0.23 0.58 0.54 0.31 0.32 0.13 0.15 0.07 0.06 0.10 0.11 0.10 0.07 0.12 0.09 0.05 0.05 –0.45 –0.45 0.07 0.03 –0.03 –0.03 0.10 0.06 –0.05 –0.02 0.93 0.96 0.68 0.73 0.25 0.23 –0.98 –0.98 –0.80 –0.82 –0.18 –0.16 0.26 0.32 0.15 0.16 0.07 0.08 0.03 0.04 0.04 0.04 0.07 0.08 0.05 0.05 0.02 0.03 0.11 0.16 0.07 0.16 0.04 0.00 1.84 1.95 –0.65 –0.90 –0.35 –0.50 0.70 0.52 0.49 0.40 0.20 0.13 0.29 0.34 0.11 0.11 0.11 0.15 0.08 0.08 0.06 0.02 –0.14 –0.17 –0.01 –0.07 –1.05 –1.02 –0.30 –0.40 0.03 0.04 –0.33 –0.44 0.63 0.58 0.96 0.95 0.57 0.59 0.39 0.36 –0.33 –0.37 –0.24 –0.25 –0.09 –0.12 0.32 0.40 0.09 0.11 0.10 0.12 0.07 0.11 0.04 0.01 –0.01 0.00 –0.02 0.00 0.00 0.00 0.23 0.28 0.17 0.20 0.06 0.09 –0.17 0.16 –1.18 –1.02 –0.81 –0.76 0.19 0.17 0.39 0.39 –0.20 –0.22 0.22 0.18 0.05 0.05 0.11 0.08 0.06 0.05 –0.05 –0.06 –0.35 –0.32 –0.03 –0.02 –1.00 –0.93 –0.37 –0.26 –0.04 0.02 –0.33 –0.28 1.20 1.40 0.64 0.76 0.48 0.51 0.16 0.25 0.56 0.64 0.58 0.65 –0.02 –0.01 0.59 0.57 0.53 0.43 0.37 0.35 0.27 0.27 0.10 0.08 0.16 0.08 0.14 0.06 0.02 0.02 0.06 0.14 0.07 0.13 –0.01 0.01 2.68 3.12 0.35 0.30 –0.12 –0.07 –0.31 –0.28 –0.06 –0.01 –0.25 –0.27 0.05 0.04 –0.06 –0.16 0.09 0.14 0.02 0.05 –0.20 –0.14 –0.05 –0.07 –0.05 –0.10 0.19 0.21 0.46 0.37 0.20 0.28 0.27 0.08 –0.54 –0.75 0.91 0.95 0.43 0.49 0.48 0.46 –1.45 –1.70 –1.13 –1.32 –0.32 –0.37 0.36 0.29 0.35 0.41 0.27 0.36 0.27 0.35 0.00 0.01 0.08 0.06 0.10 0.07 –0.01 –0.02 0.01 –0.12 0.06 –0.04 –0.05 –0.08 1.53 1.73 2.79 3.00 1.93 1.88 1.09 1.00 0.12 0.15 0.97 0.85 0.26 0.15 0.07 0.04 0.05 0.00 0.14 0.12 0.11 0.09 0.48 0.52 0.12 0.09 0.83 0.89 0.87 1.12 0.50 0.37 0.37 0.75 –1.73 –1.50 0.61 0.64 0.45 0.48 0.16 0.16 –2.34 –2.14 –2.12 –1.92 –0.22 –0.21 0.28 0.25 0.16 0.17 0.09 0.09 0.05 0.03 0.05 0.06 0.06 0.08 0.02 0.03 0.04 0.05 0.12 0.09 0.04 0.02 0.08 0.07 2.40 2.46 0.88 1.26 1.36 1.41 1.12 1.16 0.10 0.09 1.02 1.07 0.29 0.24 0.11 0.19 0.21 0.11 –0.04 –0.06 0.15 0.19 0.41 0.43 0.18 0.20 0.24 0.24 –0.48 –0.14 –0.34 –0.32 –0.14 0.18 –0.59 –0.42 0.29 0.31 0.34 0.42 –0.05 –0.11 –0.88 –0.73 –0.82 –0.69 –0.06 –0.05 0.28 0.30 0.48 0.43 0.54 0.49 0.38 0.34 0.16 0.15 –0.05 –0.06 –0.03 –0.04 –0.02 –0.03 –0.20 –0.13 0.00 0.04 –0.20 –0.17 3.23 2.93 1.40 1.04 1.10 1.14 0.92 1.00 0.01 0.00 0.91 1.01 0.31 0.41 0.14 0.24 0.20 0.17 –0.03 0.00 0.10 0.06 0.40 0.40 0.11 0.13 0.18 0.14 0.30 –0.11 –0.11 –0.14 0.40 0.03 –0.65 –1.07 0.90 0.97 0.43 0.49 0.47 0.49 –1.56 –2.04 –1.33 –1.78 –0.23 –0.26 –0.46 –0.35 –0.34 –0.33 –0.47 –0.48 –0.41 –0.45 –0.06 –0.04 0.13 0.15 0.13 0.12 –0.01 0.03 –0.11 –0.01 0.06 0.11 –0.18 –0.12 2.11 1.25 1.47 1.48 0.81 0.85 0.38 0.37 0.19 0.19 0.19 0.18 0.21 0.23 –0.05 –0.06 0.03 0.07 0.23 0.22 0.12 0.12 –0.22 –0.20 0.08 0.04 0.43 0.48 0.66 0.63 –0.35 –0.22 1.00 0.85 0.39 0.28 0.75 0.80 0.57 0.49 0.18 0.31 –0.36 –0.52 –0.45 –0.67 0.10 0.15 0.08 –0.04 0.12 0.08 0.17 0.14 0.21 0.22 –0.05 –0.08 –0.05 –0.07 –0.05 –0.03 0.00 –0.03 –0.04 –0.12 0.04 –0.13 –0.07 0.01 2.68 2.50 –1.23 –0.86 1.17 1.21 0.61 0.64 –0.04 –0.04 0.65 0.68 0.30 0.31 0.08 0.12 0.17 0.16 0.04 0.03 –0.06 –0.04 0.19 0.24 0.23 0.17 0.56 0.57 –2.39 –2.07 0.23 0.14 –2.63 –2.20 0.19 0.79 0.87 0.89 0.92 0.98 –0.05 –0.09 –0.68 –0.10 –0.62 –0.10 –0.06 0.00 0.08 0.17 0.02 0.08 0.14 0.18 0.03 0.06 0.11 0.12 –0.12 –0.11 –0.12 –0.12 0.00 0.01 0.06 0.10 0.02 0.02 0.04 0.08 1.86 1.95 2.02 1.75 0.47 0.47 0.31 0.29 0.42 0.43 2.23 2.05 2.22 2.04 0.38 0.36 0.37 0.35 0.41 0.42 1.54 1.46 2.26 1.90 0.34 0.30 –0.06 –0.07 0.30 0.31 –0.50 –0.59 1.51 1.30 0.07 0.04 –0.16 –0.17 0.13 0.14 0.51 0.41 1.54 1.43 –0.24 –0.24 0.39 0.39 0.03 0.03 0.98 1.00 1.19 1.20 0.31 0.31 0.04 0.05 0.12 0.15 1.44 1.50 1.65 1.62 0.49 0.51 0.14 0.14 0.03 0.04 1.22 1.35 1.54 1.25 0.30 0.34 0.13 0.13 0.11 0.15 1.40 1.67 1.45 1.35 –0.18 –0.24 –0.04 –0.03 0.14 0.15 1.01 0.97 1.61 1.61 –0.49 –0.55 –0.04 –0.03 0.13 0.13 0.11 0.31 0.94 1.32 –0.61 –0.52 –0.52 –0.50 0.12 0.12 0.51 0.68 2.28 2.17 0.06 0.10 0.11 0.29 –0.18 –0.28 0.71 1.10 1.15 1.27 1.00 1.11 –0.21 –0.21 0.00 –0.04 1.40 2.06 1.49 1.40 0.09 0.14 0.61 0.87 0.04 0.13 1.58 1.18 2.03 1.41 –0.10 –0.03 –0.04 –0.34 0.18 0.29 1.85 1.12 1.64 1.24 0.57 0.62 0.04 0.15 0.05 0.06 0.09 1.49 1.14 0.59 0.48 0.54 0.21 0.24 0.18 0.22 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. Table 2A. Contributions to Percent Change in Real Gross Domestic Product—Table Ends Seasonally adjusted at annual rates 2005 III Percent change at annual rate: Gross domestic product ............................................................. Previously published.................................................................. Percentage points at annual rates: Personal consumption expenditures............................................. Previously published...................................................................... Gross private domestic investment............................................... Previously published...................................................................... Fixed investment ......................................................................... Previously published.................................................................. Nonresidential ........................................................................... Previously published ............................................................. Structures.............................................................................. Previously published ......................................................... Equipment and software........................................................ Previously published ......................................................... Information processing equipment and software............... Previously published ..................................................... Computers and peripheral equipment........................... Previously published ................................................. Software ........................................................................ Previously published ................................................. Other ............................................................................. Previously published ................................................. Industrial equipment.......................................................... Previously published ..................................................... Transportation equipment.................................................. Previously published ..................................................... Other equipment ............................................................... Previously published ..................................................... Residential................................................................................. Previously published ............................................................. Change in private inventories .................................................... Previously published.................................................................. Farm .......................................................................................... Previously published ............................................................. Nonfarm..................................................................................... Previously published ............................................................. Net exports of goods and services................................................ Previously published...................................................................... Exports......................................................................................... Previously published.................................................................. Goods........................................................................................ Previously published ............................................................. Services .................................................................................... Previously published ............................................................. Imports ......................................................................................... Previously published.................................................................. Goods........................................................................................ Previously published ............................................................. Services .................................................................................... Previously published ............................................................. Government consumption expenditures and gross investment Previously published...................................................................... Federal.......................................................................................... Previously published.................................................................. National defense ....................................................................... Previously published ............................................................. Consumption expenditures.................................................... Previously published ......................................................... Gross investment .................................................................. Previously published ......................................................... Nondefense ............................................................................... Previously published ............................................................. Consumption expenditures.................................................... Previously published ......................................................... Gross investment .................................................................. Previously published ......................................................... State and local ............................................................................. Previously published.................................................................. Consumption expenditures........................................................ Previously published ............................................................. Gross investment....................................................................... Previously published ............................................................. Addenda: Goods............................................................................................ Previously published.................................................................. Services ........................................................................................ Previously published.................................................................. Structures...................................................................................... Previously published.................................................................. Motor vehicle output ...................................................................... Previously published.................................................................. Final sales of computers ............................................................... Previously published.................................................................. 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I 3.1 3.8 2.1 1.3 5.4 4.8 1.4 2.7 0.1 0.8 3.0 1.5 1.2 0.1 3.2 4.8 3.6 4.8 2.1 –0.2 –0.7 0.9 1.5 2.8 –2.7 –0.5 –5.4 –6.3 –6.4 –5.5 1.99 2.59 0.76 0.69 0.86 0.88 0.61 0.64 –0.24 –0.26 0.84 0.90 0.33 0.36 0.11 0.09 0.04 0.04 0.17 0.23 0.20 0.19 0.31 0.31 0.01 0.04 0.25 0.25 –0.09 –0.19 0.14 0.19 –0.23 –0.39 –0.36 –0.07 0.01 0.04 –0.08 –0.06 0.09 0.10 –0.37 –0.11 –0.34 –0.14 –0.03 0.03 0.68 0.65 0.65 0.66 0.50 0.56 0.42 0.45 0.08 0.11 0.15 0.10 0.06 0.03 0.08 0.07 0.04 –0.01 0.10 0.06 –0.06 –0.07 0.71 0.94 2.46 1.98 0.25 0.41 0.25 0.40 0.07 0.05 0.18 0.35 0.15 0.33 0.18 0.22 0.01 0.10 –0.04 0.02 0.20 0.19 –0.22 –0.24 0.04 0.07 0.01 0.01 2.21 1.56 –0.06 –0.15 2.27 1.71 –0.74 –1.26 1.03 1.09 0.81 0.91 0.23 0.18 –1.78 –2.35 –1.55 –2.18 –0.23 –0.17 –0.34 –0.34 –0.47 –0.53 –0.72 –0.73 –0.65 –0.70 –0.07 –0.02 0.25 0.20 0.15 0.10 0.10 0.10 0.13 0.19 –0.01 0.09 0.14 0.10 3.08 2.86 1.08 1.15 1.57 1.39 1.84 1.62 0.52 0.42 1.32 1.20 0.59 0.61 0.16 0.16 0.07 0.03 0.36 0.41 –0.06 –0.07 0.62 0.52 0.17 0.15 –0.27 –0.23 –0.49 –0.24 0.04 0.02 –0.53 –0.26 0.44 0.09 1.64 1.70 1.23 1.27 0.41 0.42 –1.20 –1.61 –0.81 –1.18 –0.39 –0.43 0.75 0.72 0.79 0.66 0.46 0.39 0.40 0.40 0.06 –0.01 0.32 0.27 0.30 0.22 0.02 0.05 –0.03 0.06 0.02 0.23 –0.05 –0.18 1.48 1.88 –0.11 –0.02 –0.32 –0.40 0.80 0.71 0.63 0.54 0.17 0.16 0.10 0.15 0.09 0.17 0.07 0.02 –0.07 –0.04 0.34 0.25 –0.26 –0.25 –0.01 0.02 –1.12 –1.11 0.22 0.38 –0.36 –0.24 0.58 0.62 0.02 0.59 0.72 0.58 0.54 0.49 0.18 0.09 –0.70 0.01 –0.66 –0.04 –0.05 0.05 0.06 0.23 –0.24 –0.11 0.05 0.09 –0.11 –0.02 0.15 0.11 –0.29 –0.20 –0.23 –0.14 –0.07 –0.07 0.30 0.34 0.08 0.16 0.22 0.18 1.70 1.52 –0.99 –0.92 –0.86 –0.81 0.49 0.59 0.32 0.42 0.17 0.17 0.34 0.34 0.16 0.13 0.11 0.07 0.06 0.14 –0.05 –0.12 –0.01 0.06 –0.11 –0.12 –1.36 –1.40 –0.13 –0.11 0.06 0.00 –0.19 –0.12 –0.71 –0.12 0.06 0.39 0.01 0.28 0.05 0.11 –0.78 –0.51 –0.74 –0.51 –0.04 0.01 0.11 0.32 –0.03 0.13 –0.09 –0.04 0.02 0.00 –0.11 –0.05 0.06 0.17 0.06 0.15 0.01 0.03 0.14 0.19 0.18 0.24 –0.04 –0.05 2.79 2.55 –1.99 –2.68 –0.91 –1.27 0.27 –0.09 0.05 0.08 0.22 –0.18 0.11 0.04 0.01 0.02 0.13 0.14 –0.03 –0.11 0.03 –0.02 0.05 –0.15 0.03 –0.05 –1.18 –1.18 –1.08 –1.41 0.08 0.12 –1.15 –1.52 1.94 1.33 1.84 1.66 0.96 0.78 0.87 0.87 0.10 –0.33 0.35 0.13 –0.25 –0.46 0.21 0.30 0.08 0.12 0.38 0.32 0.24 0.14 0.14 0.18 –0.30 –0.20 –0.30 –0.20 0.00 0.01 0.14 0.18 0.24 0.23 –0.10 –0.06 2.54 2.71 –1.05 –1.63 –0.43 –0.57 0.46 0.33 0.50 0.35 –0.04 –0.02 0.46 0.57 0.18 0.17 0.07 0.21 0.22 0.19 –0.10 –0.10 –0.22 –0.21 –0.18 –0.28 –0.89 –0.91 –0.61 –1.06 0.27 –0.07 –0.88 –0.99 –0.29 –1.20 0.39 0.06 0.23 0.15 0.16 –0.09 –0.68 –1.25 –0.67 –1.14 –0.01 –0.11 0.00 0.17 –0.36 –0.26 –0.37 –0.29 –0.31 –0.08 –0.06 –0.21 0.01 0.03 0.02 0.06 –0.01 –0.04 0.36 0.43 0.18 0.20 0.18 0.24 0.81 1.42 0.92 0.94 0.59 0.47 1.25 1.07 0.75 0.57 0.51 0.50 0.19 0.41 0.02 0.09 0.12 0.22 0.05 0.09 0.45 0.34 –0.30 –0.32 0.16 0.07 –0.66 –0.60 0.32 0.47 –0.31 0.14 0.64 0.33 0.66 1.66 0.58 1.01 0.48 0.55 0.10 0.46 0.08 0.65 0.13 0.59 –0.05 0.06 0.82 0.77 0.50 0.47 0.39 0.40 0.24 0.28 0.15 0.12 0.11 0.07 0.08 0.02 0.03 0.05 0.32 0.30 0.21 0.17 0.11 0.13 1.35 1.44 0.14 0.54 –0.04 –0.15 1.10 0.91 0.91 0.65 0.19 0.26 0.32 0.31 0.13 0.12 0.11 0.10 0.08 0.09 –0.03 –0.04 –0.18 –0.07 0.08 0.06 –1.14 –1.06 0.19 0.69 0.06 –0.08 0.13 0.77 1.36 2.03 1.99 2.54 1.11 1.66 0.88 0.88 –0.63 –0.51 –0.41 –0.34 –0.22 –0.17 0.75 0.75 0.63 0.51 0.46 0.48 0.43 0.45 0.03 0.03 0.17 0.03 0.14 0.03 0.03 –0.01 0.11 0.24 0.09 0.15 0.02 0.09 0.86 0.67 –1.29 –1.93 –0.66 –0.97 0.78 0.36 0.42 0.29 0.36 0.07 0.53 0.37 0.20 0.12 0.20 0.16 0.12 0.10 –0.22 –0.20 0.00 –0.18 0.05 0.08 –1.44 –1.33 –0.63 –0.96 0.03 0.47 –0.66 –1.43 2.24 0.94 1.65 0.53 0.97 0.43 0.68 0.10 0.60 0.40 0.51 0.38 0.08 0.02 0.31 0.16 0.19 –0.04 0.03 –0.04 0.03 –0.06 0.00 0.02 0.16 0.01 0.16 –0.02 0.00 0.02 0.12 0.19 0.07 0.15 0.05 0.04 –0.39 0.61 –1.20 –0.89 –0.99 –0.86 0.25 0.26 0.27 0.30 –0.02 –0.04 0.39 0.27 0.12 0.10 0.22 0.16 0.05 0.00 0.02 0.01 –0.27 –0.16 –0.16 –0.16 –1.24 –1.12 –0.21 –0.02 –0.29 –0.17 0.08 0.15 0.36 0.77 –0.02 0.63 0.34 0.39 –0.36 0.24 0.38 0.14 0.46 0.29 –0.08 –0.15 0.51 0.38 0.56 0.41 0.39 0.34 0.27 0.31 0.11 0.04 0.17 0.06 0.18 0.06 –0.01 0.01 –0.05 –0.03 0.07 0.14 –0.13 –0.18 0.06 0.87 –1.66 –1.74 –0.41 –0.25 0.19 0.27 0.56 0.64 –0.38 –0.37 0.26 0.30 0.03 0.08 0.09 0.04 0.14 0.18 –0.02 –0.05 –0.58 –0.58 –0.04 –0.04 –0.60 –0.52 –1.25 –1.50 0.34 –0.14 –1.59 –1.36 2.35 2.93 1.47 1.54 1.17 1.39 0.30 0.15 0.88 1.39 0.67 1.14 0.21 0.25 0.71 0.78 0.55 0.47 0.34 0.36 0.10 0.15 0.24 0.21 0.21 0.11 0.16 0.08 0.05 0.03 0.15 0.31 0.02 0.12 0.14 0.19 –2.49 –2.75 –1.04 0.06 –1.30 –0.79 –0.73 –0.19 0.00 0.36 –0.73 –0.55 –0.17 –0.16 –0.19 –0.16 –0.06 –0.08 0.07 0.08 –0.15 –0.12 –0.54 –0.47 0.13 0.20 –0.57 –0.60 0.26 0.84 –0.09 0.01 0.35 0.83 –0.10 1.05 –0.48 0.40 –0.17 0.34 –0.31 0.06 0.38 0.65 0.55 0.74 –0.17 –0.09 0.95 1.14 0.93 0.97 0.93 0.85 0.81 0.72 0.13 0.14 0.00 0.12 –0.02 0.11 0.02 0.00 0.01 0.17 0.08 0.11 –0.06 0.06 –2.15 –2.99 –3.91 –3.47 –3.28 –3.36 –2.47 –2.56 –0.31 –0.38 –2.15 –2.18 –0.70 –0.92 –0.19 –0.28 –0.17 –0.23 –0.34 –0.42 –0.20 –0.19 –0.87 –0.75 –0.38 –0.31 –0.81 –0.80 –0.64 –0.11 0.10 0.06 –0.74 –0.17 0.45 –0.15 –2.67 –3.44 –2.50 –3.38 –0.17 –0.06 3.12 3.29 3.09 3.09 0.03 0.20 0.24 0.26 0.49 0.52 0.20 0.18 0.15 0.17 0.05 0.01 0.29 0.34 0.16 0.21 0.13 0.14 –0.25 –0.25 0.04 0.00 –0.28 –0.25 0.44 0.95 –8.98 –8.20 –6.62 –5.99 –5.29 –4.59 –2.28 –2.05 –3.01 –2.54 –0.79 –0.70 –0.08 –0.06 –0.47 –0.38 –0.24 –0.26 –0.82 –0.72 –0.92 –0.66 –0.48 –0.46 –1.33 –1.40 –2.36 –2.20 0.05 0.05 –2.41 –2.25 2.64 2.39 –3.95 –4.16 –3.41 –3.69 –0.54 –0.47 6.58 6.55 6.25 6.25 0.34 0.29 –0.52 –0.63 –0.33 –0.35 –0.27 –0.37 –0.22 –0.27 –0.05 –0.10 –0.06 0.02 0.06 0.12 –0.11 –0.11 –0.19 –0.28 –0.04 –0.06 –0.15 –0.22 1.22 1.68 1.89 2.23 –0.03 –0.06 0.72 0.76 0.10 0.07 1.41 0.65 0.49 0.52 0.19 0.15 –1.03 –1.22 0.19 0.21 3.17 3.40 2.07 1.48 0.11 –0.07 0.43 0.59 0.18 0.16 0.52 1.84 1.20 1.26 –0.27 –0.42 –0.25 –0.34 0.11 0.15 0.03 0.51 1.19 1.29 –1.12 –1.00 0.12 0.40 0.07 0.04 1.94 0.42 2.19 2.19 –1.18 –1.10 –0.33 –0.65 0.13 0.20 –0.22 –0.80 1.65 1.26 –0.23 –0.41 –0.03 0.10 0.02 –0.03 1.64 3.08 1.34 1.61 0.24 0.09 0.17 0.13 0.15 0.21 1.88 2.71 1.92 2.35 –0.21 –0.30 0.10 0.47 0.29 0.28 1.95 0.01 1.17 0.79 –1.00 –0.97 –0.30 –0.86 0.19 0.14 –0.55 0.29 0.94 1.62 –1.12 –1.03 –0.64 –0.41 0.06 0.05 0.36 1.49 0.96 1.02 0.13 0.32 –1.08 –1.01 0.16 0.17 –1.91 –1.29 –0.22 0.87 –0.55 –0.09 –0.15 0.16 –0.02 –0.01 –4.54 –6.16 0.46 1.17 –1.30 –1.35 –1.41 –2.01 0.02 –0.02 –2.19 –1.87 –0.53 0.02 –3.70 –3.64 –1.69 –1.26 0.06 0.09 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. Table 3A. Gross Domestic Product and Related Measures—Continues [Billions of dollars] Seasonally adjusted at annual rates Gross domestic product ..................................... Personal consumption expenditures......................... Goods ....................................................................... Durable goods ....................................................... Motor vehicles and parts ................................... Furnishings and durable household equipment Recreational goods and vehicles ...................... Other durable goods.......................................... Nondurable goods ................................................. Food and beverages purchased for offpremises consumption .................................. Clothing and footwear ....................................... Gasoline and other energy goods ..................... Other nondurable goods.................................... Services.................................................................... Household consumption expenditures (for services)............................................................ Housing and utilities .......................................... Health care........................................................ Transportation services ..................................... Recreation services........................................... Food services and accommodations................. Financial services and insurance ...................... Other services ................................................... Final consumption expenditures of nonprofit institutions serving households ......................... Gross output of nonprofit institutions................. Less: Receipts from sales of goods and services by nonprofit institutions ................... Gross private domestic investment........................... Fixed investment ..................................................... Nonresidential ....................................................... Structures.......................................................... Equipment and software.................................... Information processing equipment and software..................................................... Computers and peripheral equipment....... Software .................................................... Other ......................................................... Industrial equipment...................................... Transportation equipment.............................. Other equipment ........................................... Residential............................................................. Change in private inventories ................................ Farm ...................................................................... Nonfarm................................................................. Net exports of goods and services............................ Exports..................................................................... Goods.................................................................... Services ................................................................ Imports ..................................................................... Goods.................................................................... Services ................................................................ Government consumption expenditures and gross investment................................................................ Federal...................................................................... National defense.................................................... Consumption expenditures................................ Gross investment............................................... Nondefense ........................................................... Consumption expenditures................................ Gross investment............................................... State and local ......................................................... Consumption expenditures.................................... Gross investment................................................... Addenda: Final sales of domestic product................................. Gross domestic purchases........................................ Final sales to domestic purchasers ........................... Gross domestic product ......................................... Plus: Income receipts from the rest of the world ....... Less: Income payments to the rest of the world........ Equals: Gross national product ............................. Net domestic product ................................................ See “Explanatory Note” at the end of the tables. 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 8,793.5 5,918.5 2,110.0 780.0 320.2 173.6 192.1 94.2 1,330.0 9,353.5 6,342.8 2,290.0 857.4 350.7 191.2 212.7 102.7 1,432.6 9,951.5 6,830.4 2,459.1 915.8 363.2 208.1 234.1 110.4 1,543.4 10,286.2 7,148.8 2,534.0 946.3 383.3 214.9 239.8 108.4 1,587.7 10,642.3 7,439.2 2,610.0 992.1 401.3 225.9 251.5 113.4 1,617.9 11,142.1 7,804.0 2,727.4 1,014.8 401.5 233.3 262.6 117.4 1,712.6 11,867.8 8,285.1 2,892.3 1,061.6 404.7 249.2 284.3 123.4 1,830.7 12,638.4 8,819.0 3,073.9 1,105.5 409.6 263.9 303.4 128.6 1,968.4 13,398.9 9,322.7 3,221.7 1,133.0 397.1 276.5 323.4 136.0 2,088.7 14,077.6 9,826.4 3,365.0 1,160.5 400.3 279.8 337.7 142.7 2,204.5 14,441.4 10,129.9 3,403.2 1,095.2 342.3 270.1 339.9 142.8 2,308.0 2004 2005 I II III IV I II 11,597.2 8,105.3 2,835.0 1,045.9 400.8 244.1 278.2 122.8 1,789.2 11,778.4 8,209.4 2,862.8 1,052.3 400.7 246.9 281.7 123.0 1,810.5 11,950.5 8,330.7 2,899.4 1,065.0 404.3 251.0 286.7 123.1 1,834.4 12,144.9 8,494.9 2,971.8 1,083.1 413.3 254.7 290.6 124.7 1,888.7 12,379.5 8,609.6 2,997.4 1,089.2 408.6 257.4 296.7 126.5 1,908.1 12,516.8 8,747.2 3,047.3 1,117.9 425.1 262.5 302.3 128.0 1,929.4 486.5 513.6 537.5 559.7 569.6 593.1 628.2 665.0 698.0 740.1 784.3 616.1 623.7 629.9 643.0 650.1 659.0 257.8 271.1 280.8 277.9 278.8 287.0 300.0 315.5 330.1 341.2 337.5 298.7 296.6 299.6 305.2 309.7 315.6 133.4 148.8 188.8 183.6 174.6 209.6 249.9 304.8 336.9 368.0 413.0 234.9 241.1 247.9 275.8 276.9 275.8 452.3 499.2 536.2 566.5 594.9 622.9 652.6 683.0 723.7 755.2 773.2 639.5 649.1 657.0 664.7 671.5 678.9 3,808.5 4,052.8 4,371.2 4,614.8 4,829.2 5,076.6 5,392.8 5,745.1 6,100.9 6,461.4 6,726.8 5,270.3 5,346.6 5,431.3 5,523.1 5,612.3 5,699.9 3,677.5 3,907.4 4,205.9 4,428.6 4,624.2 4,864.8 5,182.8 5,531.0 5,860.6 6,207.9 6,448.0 5,060.8 5,136.8 5,220.9 5,312.7 5,402.8 5,489.2 1,065.2 1,125.0 1,198.6 1,287.7 1,334.8 1,393.8 1,462.2 1,582.8 1,686.0 1,763.1 1,843.7 1,429.7 1,448.7 1,468.8 1,501.7 1,532.2 1,566.1 832.0 863.6 918.4 996.6 1,082.9 1,149.3 1,229.7 1,316.0 1,380.7 1,469.6 1,554.2 1,195.6 1,218.6 1,242.8 1,261.9 1,289.8 1,305.7 227.2 243.3 262.3 262.7 256.7 263.1 273.2 285.9 297.0 307.4 307.8 269.9 271.3 274.0 277.7 280.4 283.8 220.6 238.8 255.5 263.6 272.8 289.5 312.0 326.8 348.8 371.7 383.1 305.6 310.8 314.3 317.1 322.2 324.0 363.0 381.6 410.1 421.2 438.2 462.8 492.9 525.3 559.7 587.9 608.7 483.3 488.5 495.7 504.2 511.6 522.8 469.6 514.2 570.0 562.8 576.2 601.8 667.5 712.6 752.4 824.2 835.6 646.4 658.9 672.6 692.0 696.8 710.4 499.8 540.9 591.1 634.0 662.7 704.6 745.3 781.6 836.0 884.0 915.0 730.2 740.1 752.6 758.2 769.9 776.3 131.0 550.5 145.4 585.3 165.4 632.0 186.2 688.0 205.0 749.7 211.8 785.8 210.0 827.7 214.1 874.6 240.4 933.6 253.5 278.7 987.5 1,049.4 209.5 807.8 209.8 821.2 210.3 836.0 210.4 845.8 209.5 858.2 210.7 865.2 419.6 439.9 466.6 501.8 544.7 574.0 617.7 660.6 693.3 734.0 770.7 598.3 611.5 625.6 635.4 648.7 654.4 1,510.8 1,641.5 1,772.2 1,661.9 1,647.0 1,729.7 1,968.6 2,172.2 2,327.2 2,288.5 2,136.1 1,853.6 1,956.0 2,001.3 2,063.2 2,130.7 2,115.2 1,447.1 1,580.7 1,717.7 1,700.2 1,634.9 1,713.3 1,903.6 2,122.3 2,267.2 2,269.1 2,170.8 1,802.2 1,880.0 1,940.6 1,991.8 2,040.0 2,099.4 1,061.1 1,154.9 1,268.7 1,227.8 1,125.4 1,135.7 1,223.0 1,347.3 1,505.3 1,640.2 1,693.6 1,164.6 1,204.4 1,244.0 1,279.1 1,305.2 1,334.9 275.1 283.9 318.1 329.7 282.8 281.9 306.7 351.8 433.7 535.4 609.5 290.8 300.9 312.4 322.4 338.4 346.5 786.0 871.0 950.5 898.1 842.7 853.8 916.4 995.6 1,071.7 1,104.8 1,084.1 873.8 903.5 931.5 956.7 966.8 988.4 366.1 417.1 478.2 452.5 419.8 430.9 455.3 475.3 505.2 87.9 97.2 103.2 87.6 79.7 77.6 80.2 78.9 84.9 126.0 157.3 184.5 186.6 183.0 191.3 205.7 218.0 229.8 152.2 162.5 190.6 178.4 157.0 162.0 169.4 178.4 190.6 147.4 149.1 162.9 151.9 141.7 142.6 142.0 159.6 178.4 147.1 174.4 170.8 154.2 141.6 132.9 161.1 181.7 198.2 125.4 130.4 138.6 139.5 139.6 147.5 157.9 178.9 189.8 385.9 425.8 449.0 472.4 509.5 577.6 680.6 775.0 761.9 63.7 60.8 54.5 –38.3 12.0 16.4 64.9 50.0 60.0 1.3 –2.7 –1.4 0.0 –2.5 0.1 8.8 0.1 –3.6 62.5 63.5 55.9 –38.3 14.5 16.3 56.1 49.8 63.6 –161.8 –262.1 –382.1 –371.0 –427.2 –504.1 –618.7 –722.7 –769.3 953.9 989.3 1,093.2 1,027.7 1,003.0 1,041.0 1,180.2 1,305.1 1,471.0 680.9 697.2 784.3 731.2 700.3 726.8 817.0 906.1 1,024.4 273.0 292.1 308.9 296.5 302.7 314.2 363.2 399.0 446.6 1,115.7 1,251.4 1,475.3 1,398.7 1,430.2 1,545.1 1,798.9 2,027.8 2,240.3 930.8 1,047.7 1,246.5 1,171.7 1,193.9 1,289.3 1,501.7 1,708.0 1,884.9 184.9 203.7 228.8 227.0 236.3 255.9 297.3 319.8 355.4 537.4 89.2 245.6 202.5 193.2 181.7 192.6 629.0 19.4 –0.6 20.0 –713.8 1,655.9 1,139.4 516.5 2,369.7 1,987.7 382.1 562.9 447.8 452.4 458.3 462.7 466.8 473.0 86.7 78.5 79.3 80.5 82.5 77.9 77.8 264.1 201.1 201.8 208.0 211.8 213.5 218.8 212.1 168.2 171.3 169.8 168.4 175.4 176.3 193.8 134.9 139.4 144.8 149.0 154.3 154.2 132.3 141.2 156.6 167.4 179.3 174.8 181.1 195.1 149.9 155.2 161.0 165.6 170.9 180.1 477.2 637.6 675.6 696.6 712.6 734.8 764.5 –34.8 51.4 76.0 60.8 71.5 90.7 15.9 –7.1 4.4 18.4 7.7 4.7 –6.5 0.3 –27.7 46.9 57.6 53.1 66.8 97.2 15.5 –707.8 –546.3 –606.1 –635.9 –686.5 –677.4 –690.2 1,831.1 1,138.8 1,170.8 1,185.4 1,225.9 1,262.4 1,298.5 1,266.9 787.1 811.3 824.1 845.4 871.6 906.0 564.2 351.7 359.5 361.3 380.5 390.7 392.4 2,538.9 1,685.1 1,776.9 1,821.3 1,912.4 1,939.8 1,988.7 2,126.4 1,401.1 1,483.0 1,521.4 1,601.2 1,628.9 1,671.7 412.4 284.0 293.9 299.9 311.2 310.9 317.0 1,526.1 1,631.3 1,731.0 1,846.4 1,983.3 2,112.6 2,232.8 2,369.9 2,518.4 2,676.5 2,883.2 2,184.5 2,219.0 2,254.4 2,273.3 2,316.5 2,344.6 531.0 554.9 576.1 611.7 680.6 756.5 824.6 876.3 931.7 976.7 1,082.6 805.1 819.9 839.1 834.5 862.0 867.2 346.1 361.1 371.0 393.0 437.7 497.9 550.8 589.0 624.9 662.1 737.9 535.9 545.6 565.4 556.2 578.5 586.1 300.3 313.0 321.8 342.0 380.7 435.2 481.2 514.8 543.9 574.9 634.0 470.2 477.7 492.5 484.4 507.5 511.7 45.8 48.2 49.2 50.9 57.0 62.8 69.6 74.2 81.0 87.3 103.9 65.8 67.9 72.9 71.8 71.0 74.3 184.9 193.8 205.0 218.7 242.9 258.5 273.9 287.3 306.8 314.5 344.7 269.2 274.2 273.7 278.3 283.5 281.1 154.3 160.3 174.2 188.1 209.8 225.1 240.2 251.0 267.1 273.9 300.4 236.2 240.0 239.9 244.5 249.4 247.1 30.7 33.4 30.9 30.6 33.1 33.5 33.7 36.3 39.7 40.6 44.3 33.0 34.3 33.8 33.7 34.1 34.1 995.0 1,076.3 1,154.9 1,234.7 1,302.7 1,356.1 1,408.2 1,493.6 1,586.7 1,699.8 1,800.6 1,379.4 1,399.2 1,415.3 1,438.8 1,454.6 1,477.3 808.6 870.6 930.6 994.2 1,049.4 1,096.5 1,139.1 1,212.0 1,282.3 1,366.1 1,452.4 1,116.8 1,129.1 1,144.0 1,166.3 1,182.0 1,198.4 186.4 205.7 224.3 240.5 253.3 259.6 269.1 281.6 304.4 333.7 348.2 262.6 270.0 271.3 272.5 272.6 278.9 8,729.8 8,955.3 8,891.6 8,793.5 286.2 268.9 8,810.8 7,772.9 9,292.7 9,615.6 9,554.7 9,353.5 319.5 291.7 9,381.3 8,259.1 9,896.9 10,333.5 10,279.0 9,951.5 380.5 342.8 9,989.2 8,767.2 10,324.5 10,657.2 10,695.4 10,286.2 323.0 271.1 10,338.1 9,029.9 10,630.3 11,069.5 11,057.5 10,642.3 313.5 264.4 10,691.4 9,337.3 11,125.8 11,646.3 11,629.9 11,142.1 353.3 284.6 11,210.8 9,788.1 11,802.8 12,486.4 12,421.5 11,867.8 448.6 357.4 11,959.0 10,435.0 12,588.4 13,361.1 13,311.2 12,638.4 573.0 475.9 12,735.5 11,097.0 13,339.0 14,168.2 14,108.3 13,398.9 721.1 648.6 13,471.3 11,738.2 14,058.3 14,791.4 14,772.0 14,077.6 861.8 746.0 14,193.3 12,317.6 14,476.2 15,149.2 15,183.9 14,441.4 809.2 667.3 14,583.3 12,594.3 11,545.8 12,143.4 12,092.1 11,597.2 418.2 307.6 11,707.8 10,200.5 11,702.4 12,384.5 12,308.4 11,778.4 434.4 348.6 11,864.2 10,358.8 11,889.8 12,586.5 12,525.7 11,950.5 456.3 359.5 12,047.3 10,506.1 12,073.5 12,831.4 12,760.0 12,144.9 485.4 413.8 12,216.6 10,674.5 12,288.8 13,056.9 12,966.2 12,379.5 535.5 428.7 12,486.3 10,883.8 12,500.9 13,207.0 13,191.1 12,516.8 551.3 455.1 12,613.0 10,992.6 Table 3A. Gross Domestic Product and Related Measures—Table Ends [Billions of dollars] Seasonally adjusted at annual rates 2005 III Gross domestic product ..................................... Personal consumption expenditures......................... Goods ....................................................................... Durable goods ....................................................... Motor vehicles and parts ................................... Furnishings and durable household equipment Recreational goods and vehicles ...................... Other durable goods.......................................... Nondurable goods ................................................. Food and beverages purchased for offpremises consumption .................................. Clothing and footwear ....................................... Gasoline and other energy goods ..................... Other nondurable goods.................................... Services.................................................................... Household consumption expenditures (for services)............................................................ Housing and utilities .......................................... Health care........................................................ Transportation services ..................................... Recreation services........................................... Food services and accommodations................. Financial services and insurance ...................... Other services ................................................... Final consumption expenditures of nonprofit institutions serving households ......................... Gross output of nonprofit institutions................. Less: Receipts from sales of goods and services by nonprofit institutions ................... Gross private domestic investment........................... Fixed investment ..................................................... Nonresidential ....................................................... Structures.......................................................... Equipment and software.................................... Information processing equipment and software..................................................... Computers and peripheral equipment....... Software .................................................... Other ......................................................... Industrial equipment...................................... Transportation equipment.............................. Other equipment ........................................... Residential............................................................. Change in private inventories ................................ Farm ...................................................................... Nonfarm................................................................. Net exports of goods and services............................ Exports..................................................................... Goods.................................................................... Services ................................................................ Imports ..................................................................... Goods.................................................................... Services ................................................................ Government consumption expenditures and gross investment................................................................ Federal...................................................................... National defense.................................................... Consumption expenditures................................ Gross investment............................................... Nondefense ........................................................... Consumption expenditures................................ Gross investment............................................... State and local ......................................................... Consumption expenditures.................................... Gross investment................................................... Addenda: Final sales of domestic product................................. Gross domestic purchases........................................ Final sales to domestic purchasers ........................... Gross domestic product ......................................... Plus: Income receipts from the rest of the world ....... Less: Income payments to the rest of the world........ Equals: Gross national product ............................. Net domestic product ................................................ See “Explanatory Note” at the end of the tables. 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II 12,741.6 12,915.6 13,183.5 13,347.8 13,452.9 13,611.5 13,795.6 13,997.2 14,179.9 14,337.9 14,373.9 14,497.8 14,546.7 14,347.3 14,178.0 14,149.8 8,908.8 9,010.3 9,148.2 9,266.6 9,391.8 9,484.1 9,658.5 9,762.5 9,865.6 10,019.2 10,095.1 10,194.7 10,220.1 10,009.8 9,987.7 9,989.0 3,124.5 3,126.6 3,180.8 3,206.5 3,250.5 3,249.1 3,306.3 3,338.2 3,366.6 3,448.9 3,447.2 3,474.9 3,463.0 3,227.5 3,197.7 3,185.8 1,122.5 1,092.3 1,132.5 1,125.1 1,132.4 1,142.2 1,153.0 1,154.9 1,161.4 1,172.7 1,145.8 1,126.5 1,088.5 1,019.9 1,025.2 1,007.4 425.4 379.5 395.5 394.5 400.4 398.1 399.6 401.3 398.3 401.9 382.7 357.5 332.7 296.4 300.6 294.8 264.7 271.0 278.1 275.0 276.0 277.0 281.7 279.0 279.3 279.3 275.8 276.2 269.4 259.1 255.7 251.3 304.2 310.1 322.7 320.3 320.9 329.9 331.8 333.0 339.5 346.5 342.6 347.5 342.0 327.3 329.6 321.8 128.1 131.8 136.2 135.4 135.0 137.2 139.8 141.7 144.2 145.0 144.7 145.2 144.3 137.1 139.3 139.5 2,002.0 2,034.2 2,048.3 2,081.4 2,118.1 2,106.9 2,153.3 2,183.3 2,205.2 2,276.2 2,301.4 2,348.4 2,374.5 2,207.6 2,172.4 2,178.3 671.0 313.9 332.0 685.1 5,784.4 680.0 323.0 334.6 696.7 5,883.7 684.9 326.3 324.5 712.6 5,967.4 692.3 327.2 343.3 718.6 6,060.1 699.8 330.7 363.3 724.4 6,141.3 714.8 336.0 316.7 739.3 6,235.0 727.1 342.7 335.2 748.3 6,352.2 732.1 338.8 362.4 750.0 6,424.3 742.7 340.1 365.4 756.9 6,499.0 758.4 343.3 408.8 765.6 6,570.3 770.1 341.3 427.8 762.4 6,647.9 786.3 344.2 441.9 776.0 6,719.8 793.4 338.0 461.4 781.7 6,757.1 787.5 326.5 321.2 772.5 6,782.3 786.5 327.9 271.0 787.0 6,790.0 788.0 322.7 277.6 790.0 6,803.2 5,569.6 1,598.4 1,324.7 288.2 327.6 527.8 718.5 784.5 5,662.4 1,634.7 1,343.6 291.2 333.3 539.0 724.8 795.8 5,740.2 1,645.8 1,360.6 292.5 339.5 555.9 733.4 812.5 5,822.9 1,677.0 1,374.4 296.6 344.2 555.0 745.0 830.7 5,893.1 1,705.7 1,383.6 297.8 351.4 558.9 753.0 842.7 5,986.2 1,715.3 1,404.4 301.0 360.2 569.2 778.1 858.0 6,103.7 1,741.4 1,442.9 304.7 365.4 575.9 799.3 874.0 6,179.5 1,755.8 1,458.4 306.4 369.9 583.4 819.5 886.1 6,242.8 1,770.4 1,475.2 308.7 373.7 592.3 835.3 887.2 6,305.8 1,784.8 1,501.7 309.9 377.9 600.0 842.8 888.7 6,377.5 1,811.9 1,531.6 308.0 380.7 601.8 839.6 903.9 6,446.1 1,838.6 1,551.0 308.3 384.9 610.8 842.1 910.5 6,474.5 1,852.2 1,559.3 309.1 385.9 614.7 837.3 915.9 6,494.1 1,872.1 1,574.9 305.7 380.9 607.3 823.5 929.8 6,522.0 1,878.8 1,598.0 301.6 383.4 607.3 816.7 936.0 6,539.9 1,873.0 1,616.5 300.2 382.2 606.4 822.9 938.6 214.7 878.8 221.4 896.4 227.2 912.8 237.2 928.6 248.1 940.5 248.8 952.5 248.5 971.7 244.8 978.2 256.2 990.1 264.5 1,010.0 270.4 1,031.3 273.7 1,044.9 282.6 1,055.2 288.2 1,066.1 268.0 1,060.8 263.3 1,064.2 664.1 2,166.6 2,155.6 1,362.9 352.3 1,010.6 675.0 2,276.3 2,194.1 1,386.3 369.7 1,016.5 685.6 2,336.5 2,270.6 1,457.2 396.8 1,060.5 691.4 2,352.1 2,279.7 1,495.3 428.6 1,066.7 692.4 2,333.5 2,264.4 1,522.7 447.6 1,075.1 703.6 2,286.5 2,254.2 1,546.1 461.7 1,084.4 723.1 2,267.2 2,254.1 1,574.1 489.5 1,084.6 733.4 2,302.0 2,278.6 1,623.5 519.9 1,103.5 733.9 2,311.9 2,280.8 1,665.2 556.1 1,109.1 745.5 2,272.9 2,263.0 1,697.9 575.9 1,122.0 760.9 2,214.8 2,223.0 1,705.0 586.3 1,118.7 771.2 2,164.6 2,214.0 1,719.7 610.6 1,109.2 772.7 2,142.7 2,179.7 1,711.0 620.4 1,090.6 778.0 2,022.1 2,066.6 1,638.7 620.7 1,018.0 792.7 1,689.9 1,817.2 1,442.6 533.1 909.5 800.9 1,585.5 1,741.6 1,395.9 508.6 887.4 479.7 78.5 219.7 181.6 161.2 188.1 181.5 792.6 11.0 4.4 6.7 –734.0 1,308.2 907.4 400.8 2,042.1 1,720.0 322.1 481.6 81.3 220.0 180.3 168.9 182.8 183.3 807.9 82.2 2.3 79.9 –789.3 1,351.3 939.4 411.9 2,140.6 1,811.4 329.2 498.7 84.0 223.3 191.4 168.0 203.8 190.0 813.3 66.0 3.7 62.3 –775.8 1,414.0 985.1 428.9 2,189.8 1,842.9 346.9 500.5 84.1 227.5 188.9 180.7 195.5 190.0 784.4 72.4 –8.1 80.6 –781.4 1,456.0 1,016.5 439.6 2,237.4 1,884.3 353.1 510.1 86.7 232.1 191.4 181.4 195.3 188.2 741.7 69.1 –6.3 75.4 –805.7 1,476.0 1,030.6 445.3 2,281.7 1,925.0 356.6 511.6 84.8 236.2 190.5 183.7 198.2 191.0 708.1 32.3 –3.6 36.0 –714.3 1,538.2 1,065.4 472.8 2,252.5 1,887.5 365.0 525.1 88.8 238.3 197.9 182.1 192.3 185.2 680.0 13.1 6.2 6.8 –729.4 1,564.9 1,081.4 483.4 2,294.3 1,926.9 367.4 530.1 86.9 242.6 200.6 198.8 183.0 191.6 655.1 23.5 –3.9 27.4 –724.8 1,602.1 1,109.4 492.7 2,326.9 1,951.1 375.8 538.4 88.2 246.7 203.6 199.0 176.5 195.2 615.6 31.0 –2.4 33.4 –698.4 1,685.2 1,156.6 528.6 2,383.6 1,993.8 389.8 555.8 93.1 254.8 208.0 192.9 175.1 198.2 565.2 9.8 –2.5 12.4 –702.5 1,771.6 1,210.4 561.2 2,474.0 2,078.9 395.2 566.3 93.7 263.2 209.5 195.3 164.3 192.7 518.1 –8.2 –13.9 5.7 –744.4 1,803.6 1,247.3 556.3 2,548.1 2,143.1 404.9 576.2 92.9 268.0 215.3 197.3 143.8 192.0 494.2 –49.3 –3.2 –46.1 –738.7 1,901.5 1,326.2 575.3 2,640.2 2,226.8 413.4 568.8 84.3 266.4 218.1 194.8 125.9 201.1 468.6 –37.0 –7.5 –29.4 –757.5 1,913.1 1,338.5 574.6 2,670.5 2,243.3 427.2 540.2 75.8 258.7 205.6 187.9 95.3 194.7 427.8 –44.5 –3.7 –40.8 –590.5 1,706.2 1,155.7 550.5 2,296.7 1,892.5 404.2 508.3 71.1 240.5 196.7 157.8 65.4 178.0 374.6 –127.4 –1.3 –126.1 –378.5 1,509.3 989.5 519.8 1,887.9 1,508.2 379.6 499.6 70.1 231.7 197.8 151.3 72.5 163.9 345.6 –156.0 1.2 –157.2 –347.8 1,483.7 971.4 512.4 1,831.5 1,463.6 367.9 2,400.1 894.1 606.1 529.4 76.7 288.0 251.1 36.8 1,506.0 1,222.9 283.1 2,418.3 881.9 585.5 510.7 74.8 296.4 256.4 40.0 1,536.4 1,244.8 291.6 2,474.5 928.5 615.5 538.3 77.2 313.0 272.1 40.9 1,546.1 1,254.5 291.6 2,510.5 930.3 624.1 541.2 82.8 306.2 267.2 39.0 1,580.2 1,274.6 305.6 2,533.3 932.2 623.3 543.7 79.6 308.9 269.4 39.4 1,601.2 1,292.7 308.5 2,555.2 935.9 636.6 552.3 84.3 299.3 259.8 39.5 1,619.4 1,307.6 311.8 2,599.3 942.8 636.7 554.3 82.5 306.1 266.8 39.3 1,656.5 1,331.2 325.4 2,657.4 968.1 656.6 568.8 87.8 311.6 271.2 40.4 1,689.3 1,357.3 332.0 2,700.9 991.4 674.4 585.1 89.3 317.0 275.6 41.4 1,709.5 1,373.6 335.9 2,748.3 1,004.3 680.8 591.4 89.4 323.6 282.1 41.5 1,743.9 1,402.5 341.4 2,808.4 1,038.3 703.6 609.7 93.9 334.8 293.5 41.2 1,770.1 1,429.3 340.8 2,877.1 1,069.5 725.6 622.4 103.2 343.9 300.8 43.1 1,807.6 1,458.3 349.2 2,941.4 1,108.3 763.6 655.2 108.4 344.7 300.7 44.0 1,833.1 1,480.4 352.7 2,905.9 1,114.3 758.9 648.8 110.1 355.3 306.6 48.8 1,791.7 1,441.7 350.0 2,879.0 1,106.7 750.7 642.9 107.8 356.0 311.3 44.7 1,772.3 1,424.4 347.9 2,923.0 1,137.4 775.4 662.4 113.0 362.0 317.4 44.6 1,785.6 1,429.3 356.3 12,730.6 13,475.6 13,464.5 12,741.6 582.4 475.3 12,848.7 11,185.6 12,833.4 13,704.9 13,622.8 12,915.6 622.9 544.5 12,994.1 11,326.0 13,117.5 13,959.3 13,893.3 13,183.5 659.0 578.5 13,264.0 11,565.5 13,275.4 14,129.2 14,056.8 13,347.8 716.4 640.9 13,423.3 11,699.7 13,383.8 14,258.6 14,189.5 13,452.9 741.6 679.7 13,514.8 11,777.7 13,579.2 14,325.8 14,293.5 13,611.5 767.2 695.5 13,683.2 11,910.2 13,782.5 14,525.0 14,511.9 13,795.6 787.9 724.0 13,859.5 12,068.8 13,973.7 14,722.0 14,698.5 13,997.2 852.1 776.0 14,073.3 12,247.9 14,148.8 14,878.3 14,847.3 14,179.9 897.6 759.1 14,318.3 12,408.7 14,328.0 15,040.3 15,030.5 14,337.9 909.4 725.1 14,522.2 12,545.1 14,382.1 15,118.3 15,126.5 14,373.9 856.3 685.3 14,544.9 12,560.2 14,547.1 15,236.4 15,285.7 14,497.8 840.5 711.6 14,626.6 12,662.2 14,583.7 15,304.2 15,341.1 14,546.7 825.6 664.8 14,707.5 12,688.5 14,391.8 14,937.8 14,982.3 14,347.3 714.4 607.4 14,454.3 12,466.4 14,305.3 14,556.5 14,683.9 14,178.0 579.6 479.7 14,277.9 12,294.4 14,305.8 14,497.5 14,653.6 14,149.8 ............... ............... ............... 12,275.7 Table 3B. Real Gross Domestic Product and Related Measures—Continues [Billions of chained (2005) dollars] Seasonally adjusted at annual rates Gross domestic product ..................................... Personal consumption expenditures......................... Goods ....................................................................... Durable goods ....................................................... Motor vehicles and parts ................................... Furnishings and durable household equipment Recreational goods and vehicles ...................... Other durable goods.......................................... Nondurable goods ................................................. Food and beverages purchased for offpremises consumption .................................. Clothing and footwear ....................................... Gasoline and other energy goods ..................... Other nondurable goods.................................... Services.................................................................... Household consumption expenditures (for services)............................................................ Housing and utilities .......................................... Health care........................................................ Transportation services ..................................... Recreation services........................................... Food services and accommodations................. Financial services and insurance ...................... Other services ................................................... Final consumption expenditures of nonprofit institutions serving households ......................... Gross output of nonprofit institutions................. Less: Receipts from sales of goods and services by nonprofit institutions ................... Gross private domestic investment........................... Fixed investment ..................................................... Nonresidential ....................................................... Structures.......................................................... Equipment and software.................................... Information processing equipment and software..................................................... Computers and peripheral equipment....... Software .................................................... Other ......................................................... Industrial equipment...................................... Transportation equipment.............................. Other equipment ........................................... Residential............................................................. Change in private inventories ................................ Farm ...................................................................... Nonfarm................................................................. Net exports of goods and services............................ Exports..................................................................... Goods.................................................................... Services ................................................................ Imports ..................................................................... Goods.................................................................... Services ................................................................ Government consumption expenditures and gross investment................................................................ Federal...................................................................... National defense.................................................... Consumption expenditures................................ Gross investment............................................... Nondefense ........................................................... Consumption expenditures................................ Gross investment............................................... State and local ......................................................... Consumption expenditures.................................... Gross investment................................................... Residual ........................................................................ Addenda: Final sales of domestic product................................. Gross domestic purchases........................................ Final sales to domestic purchasers ........................... Gross domestic product ......................................... Plus: Income receipts from the rest of the world ....... Less: Income payments to the rest of the world........ Equals: Gross national product ............................. Net domestic product ................................................ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 10,283.5 6,865.5 2,218.6 667.2 316.1 157.3 121.2 86.4 1,580.3 10,779.8 7,240.9 2,395.3 753.8 345.1 175.5 147.0 96.7 1,660.9 11,226.0 7,608.1 2,521.7 819.9 356.1 192.4 172.7 105.3 1,714.7 11,347.2 7,813.9 2,600.9 864.4 374.3 202.2 189.8 103.0 1,745.6 11,553.0 8,021.9 2,706.6 930.0 394.0 217.0 212.9 109.8 1,780.2 11,840.7 8,247.6 2,829.9 986.1 405.3 230.6 237.0 115.5 1,845.6 12,263.8 8,532.7 2,955.3 1,051.0 411.3 249.3 269.4 121.7 1,904.6 12,638.4 8,819.0 3,073.9 1,105.5 409.6 263.9 303.4 128.6 1,968.4 12,976.2 9,073.5 3,173.9 1,150.4 396.6 277.9 343.2 133.4 2,023.6 13,254.1 9,313.9 3,273.7 1,199.9 402.4 283.6 382.4 134.5 2,074.8 13,312.2 9,290.9 3,206.0 1,146.3 347.5 275.5 403.0 128.0 2,057.3 2004 2005 I II III IV I II 12,127.6 8,437.6 2,919.4 1,031.0 409.2 243.4 258.7 120.9 1,888.9 12,213.8 8,483.2 2,931.8 1,038.3 407.5 246.7 264.3 120.6 1,894.0 12,303.5 8,555.8 2,966.4 1,058.7 412.3 252.3 273.4 121.3 1,907.8 12,410.3 8,654.2 3,003.6 1,076.1 416.3 254.8 281.4 123.9 1,927.6 12,534.1 8,719.0 3,032.6 1,083.3 408.8 257.0 291.6 125.9 1,949.6 12,587.5 8,802.9 3,075.1 1,113.6 423.7 261.0 299.8 129.1 1,961.5 565.5 587.4 600.6 607.6 609.0 622.4 639.2 665.0 686.2 700.7 700.7 634.5 635.7 639.1 647.6 656.6 658.6 231.0 246.2 258.1 260.5 268.5 283.4 297.3 315.5 331.5 345.9 345.0 296.4 292.9 296.9 303.0 307.4 314.7 283.8 292.5 287.1 289.2 294.0 302.2 306.5 304.8 298.4 300.7 287.4 306.9 307.5 305.6 306.1 309.8 306.4 514.4 546.3 574.2 592.9 612.5 640.1 662.6 683.0 708.4 729.4 728.7 652.7 659.5 667.0 671.2 676.1 681.6 4,661.8 4,852.8 5,093.3 5,218.7 5,318.1 5,418.4 5,577.6 5,745.1 5,899.7 6,040.8 6,083.1 5,518.3 5,551.7 5,589.6 5,650.8 5,686.4 5,727.9 4,510.6 4,690.4 4,917.8 5,028.8 5,109.3 5,199.0 5,359.3 5,531.0 5,664.4 5,796.1 5,817.6 5,298.3 5,333.6 5,372.6 5,432.7 5,473.0 5,514.2 1,329.8 1,371.8 1,413.7 1,451.5 1,462.0 1,480.2 1,512.8 1,582.8 1,616.7 1,631.8 1,647.2 1,496.4 1,504.5 1,512.7 1,537.4 1,556.6 1,577.7 1,029.5 1,045.6 1,081.5 1,135.4 1,202.3 1,229.4 1,268.6 1,316.0 1,340.0 1,375.5 1,416.4 1,247.4 1,260.9 1,277.6 1,288.7 1,304.4 1,311.1 259.2 273.5 286.2 283.6 275.8 276.7 283.2 285.9 285.0 288.3 273.8 280.8 283.2 283.7 285.2 285.2 286.1 273.3 286.6 295.2 294.9 296.7 305.5 320.7 326.8 337.5 350.0 349.8 317.3 320.6 322.2 322.8 326.0 326.2 439.2 450.0 470.5 469.9 477.2 493.6 508.8 525.3 541.6 547.7 545.4 506.1 506.2 509.0 513.8 516.5 524.5 558.6 605.6 665.4 660.7 658.3 657.8 691.8 712.6 735.4 772.3 759.8 683.1 686.7 690.6 706.6 703.2 710.8 621.7 656.7 704.2 732.6 737.0 755.7 773.5 781.6 808.3 831.0 825.7 767.2 771.7 776.9 778.1 781.0 777.9 153.9 696.7 165.0 721.0 177.8 749.0 191.4 785.3 209.0 831.1 219.3 844.0 218.3 860.6 214.1 874.6 235.4 901.0 244.9 924.6 266.6 956.7 220.0 851.5 218.1 856.3 217.0 864.1 218.2 870.5 213.4 871.6 213.7 872.2 546.0 558.6 573.0 595.2 622.5 624.5 642.3 660.6 665.8 680.0 691.0 631.4 638.3 647.1 652.3 658.2 658.5 1,695.1 1,844.3 1,970.3 1,831.9 1,807.0 1,871.6 2,058.2 2,172.2 2,230.4 2,146.2 1,989.4 1,970.0 2,055.6 2,082.2 2,125.2 2,170.3 2,131.5 1,630.4 1,782.1 1,913.8 1,877.6 1,798.1 1,856.2 1,992.5 2,122.3 2,171.3 2,126.3 2,018.4 1,918.6 1,977.7 2,019.7 2,053.9 2,079.2 2,116.0 1,087.4 1,200.9 1,318.5 1,281.8 1,180.2 1,191.0 1,263.0 1,347.3 1,453.9 1,544.3 1,569.7 1,214.3 1,247.0 1,281.2 1,309.6 1,321.5 1,340.8 407.7 408.2 440.0 433.3 356.6 343.0 346.7 351.8 384.0 441.4 486.8 341.9 345.9 349.4 349.7 356.0 354.6 710.4 810.9 895.8 866.9 830.3 851.4 917.3 995.6 1,069.6 1,097.0 1,068.6 874.4 902.5 932.5 959.8 965.6 986.0 271.1 ............. 122.8 125.5 160.8 162.0 138.8 540.4 71.6 1.6 69.5 –252.6 1,048.5 732.2 316.4 1,301.1 1,072.3 229.4 332.0 ............. 151.5 139.9 161.8 190.3 142.4 574.2 68.5 –3.7 70.8 –356.6 1,094.3 760.0 334.6 1,450.9 1,206.0 244.9 391.9 ............. 172.4 168.4 175.8 186.2 150.4 580.0 60.2 –1.8 61.2 –451.6 1,188.3 844.3 343.5 1,639.9 1,367.9 271.7 390.2 .............. 173.7 163.2 162.8 169.6 149.3 583.3 –41.8 0.1 –41.5 –472.1 1,121.6 792.0 329.3 1,593.8 1,324.2 269.6 379.3 ............. 173.4 148.4 151.9 154.2 148.2 613.8 12.8 –3.1 15.6 –548.8 1,099.2 763.5 335.6 1,648.0 1,373.4 274.5 405.0 ............. 185.6 156.4 151.6 140.4 155.0 664.3 17.3 0.1 17.2 –603.9 1,116.8 777.2 339.6 1,720.7 1,440.9 279.8 443.1 ............. 204.6 168.1 147.4 162.3 164.4 729.5 66.3 7.9 58.3 –688.0 1,222.8 842.9 380.0 1,910.8 1,599.7 311.0 475.3 .............. 218.0 178.4 159.6 181.7 178.9 775.0 50.0 0.1 49.8 –722.7 1,305.1 906.1 399.0 2,027.8 1,708.0 319.8 514.8 ............. 227.1 191.2 172.9 196.5 185.5 718.2 59.4 –3.7 63.2 –729.2 1,422.0 991.4 430.6 2,151.2 1,808.8 342.4 555.7 ............. 241.5 202.3 180.9 177.4 184.1 585.0 19.5 –0.8 20.4 –647.7 1,546.1 1,064.8 481.3 2,193.8 1,839.6 354.2 588.8 ............. 257.0 211.1 174.7 128.9 180.3 451.1 –25.9 –5.3 –20.4 –494.3 1,629.3 1,127.5 501.7 2,123.5 1,767.3 356.5 431.4 ............. 199.1 166.0 141.9 142.5 158.2 704.5 52.4 3.2 49.4 –632.5 1,197.3 824.0 373.4 1,829.8 1,526.4 303.1 438.6 ............. 200.4 169.9 145.2 156.8 161.7 731.0 78.7 17.7 60.2 –687.1 1,216.0 837.7 378.3 1,903.1 1,592.9 310.1 446.7 ............. 206.6 168.7 149.7 169.0 167.2 738.4 62.7 7.0 55.7 –705.7 1,225.0 848.3 376.8 1,930.7 1,618.8 311.9 455.6 ............. 212.5 167.8 152.7 181.1 170.6 744.2 71.6 3.7 68.1 –726.7 1,252.9 861.6 391.4 1,979.7 1,660.7 319.0 462.0 ............. 213.4 174.9 156.2 174.3 173.2 757.7 91.4 –6.9 98.4 –714.8 1,276.2 879.2 397.0 1,991.0 1,675.0 316.0 471.2 .............. 218.6 176.3 154.4 180.1 180.3 775.3 15.5 0.2 15.3 –709.4 1,303.5 908.1 395.4 2,012.9 1,694.9 318.0 1,985.0 2,056.1 2,097.8 2,178.3 2,279.6 2,330.5 2,362.0 2,369.9 2,402.1 2,443.1 2,518.1 2,354.9 2,363.5 2,372.1 2,357.6 2,359.9 2,362.4 681.4 694.6 698.1 726.5 779.5 831.1 865.0 876.3 894.9 906.4 975.9 856.6 861.4 876.4 865.6 869.2 870.0 447.5 455.8 453.5 470.7 505.3 549.2 580.4 589.0 598.4 611.5 659.4 573.5 576.5 593.2 578.4 583.6 588.0 401.2 407.6 403.9 418.5 445.8 484.1 509.4 514.8 519.1 527.4 561.6 505.6 507.0 518.9 505.9 512.5 513.6 47.5 49.3 50.3 52.7 59.6 65.3 71.1 74.2 79.4 84.3 98.4 68.0 69.6 74.3 72.5 71.1 74.5 233.7 238.7 244.4 255.5 273.9 281.7 284.6 287.3 296.6 294.9 316.4 283.1 284.9 283.2 287.1 285.6 282.0 201.2 202.9 212.4 224.2 239.7 247.1 250.2 251.0 257.5 255.2 273.5 249.1 249.8 248.8 253.0 251.4 247.9 32.0 34.8 31.6 31.3 34.2 34.6 34.4 36.3 39.1 39.7 43.0 34.0 35.1 34.5 34.2 34.2 34.1 1,303.8 1,361.8 1,400.1 1,452.3 1,500.6 1,499.7 1,497.1 1,493.6 1,507.2 1,536.7 1,543.7 1,498.4 1,502.2 1,495.7 1,492.0 1,490.7 1,492.4 1,070.8 1,109.5 1,133.7 1,172.6 1,211.3 1,207.5 1,207.4 1,212.0 1,220.7 1,242.6 1,251.5 1,206.0 1,207.2 1,207.2 1,209.1 1,210.2 1,210.7 233.7 252.7 266.6 279.7 289.4 292.2 289.8 281.6 286.4 294.0 292.3 292.5 295.1 288.5 282.9 280.5 281.7 –148.0 –89.6 –46.6 –46.8 –31.0 –18.1 –5.5 0.2 –4.1 –8.7 –1.2 –10.2 –7.0 –3.9 –1.4 –1.4 0.2 10,217.1 10,539.9 10,473.5 10,283.5 337.6 317.5 10,304.0 9,168.7 10,715.7 11,141.1 11,077.0 10,779.8 371.0 339.1 10,812.1 9,584.7 11,167.5 11,681.4 11,623.1 11,226.0 431.1 388.7 11,268.8 9,946.3 11,391.7 11,825.7 11,870.8 11,347.2 358.8 301.5 11,404.6 9,996.9 11,543.5 12,107.7 12,098.4 11,553.0 343.1 289.4 11,606.9 10,153.2 11,824.8 12,449.2 12,433.4 11,840.7 377.7 304.3 11,914.2 10,399.4 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 12,198.2 12,952.5 12,886.8 12,263.8 465.1 370.5 12,358.5 10,775.5 12,588.4 13,361.1 13,311.2 12,638.4 573.0 475.9 12,735.5 11,097.0 12,917.1 13,705.7 13,646.5 12,976.2 697.8 628.0 13,046.1 11,377.8 13,234.3 13,901.6 13,881.9 13,254.1 811.9 703.2 13,362.8 11,593.9 13,341.2 13,801.2 13,829.8 13,312.2 739.3 609.1 13,442.6 11,597.1 real gross domestic product, use table 2. See “Explanatory Note” at the end of the tables. 12,076.2 12,762.3 12,710.9 12,127.6 439.6 323.4 12,243.7 10,657.8 12,136.3 12,901.4 12,823.8 12,213.8 452.0 362.8 12,303.0 10,731.7 12,241.1 13,009.5 12,947.0 12,303.5 471.6 371.6 12,403.5 10,809.1 12,339.2 13,136.8 13,065.6 12,410.3 497.3 424.0 12,483.7 10,903.5 12,443.2 13,249.0 13,158.0 12,534.1 543.7 435.3 12,642.6 11,014.9 12,572.0 13,296.8 13,281.4 12,587.5 555.5 458.5 12,684.5 11,054.5 Table 3B. Real Gross Domestic Product and Related Measures—Table Ends [Billions of chained (2005) dollars] Seasonally adjusted at annual rates 2005 III Gross domestic product ..................................... Personal consumption expenditures......................... Goods ....................................................................... Durable goods ....................................................... Motor vehicles and parts ................................... Furnishings and durable household equipment Recreational goods and vehicles ...................... Other durable goods.......................................... Nondurable goods ................................................. Food and beverages purchased for offpremises consumption .................................. Clothing and footwear ....................................... Gasoline and other energy goods ..................... Other nondurable goods.................................... Services.................................................................... Household consumption expenditures (for services)............................................................ Housing and utilities .......................................... Health care........................................................ Transportation services ..................................... Recreation services........................................... Food services and accommodations................. Financial services and insurance ...................... Other services ................................................... Final consumption expenditures of nonprofit institutions serving households ......................... Gross output of nonprofit institutions................. Less: Receipts from sales of goods and services by nonprofit institutions ................... Gross private domestic investment........................... Fixed investment ..................................................... Nonresidential ....................................................... Structures.......................................................... Equipment and software.................................... Information processing equipment and software..................................................... Computers and peripheral equipment....... Software .................................................... Other ......................................................... Industrial equipment...................................... Transportation equipment.............................. Other equipment ........................................... Residential............................................................. Change in private inventories ................................ Farm ...................................................................... Nonfarm................................................................. Net exports of goods and services............................ Exports..................................................................... Goods.................................................................... Services ................................................................ Imports ..................................................................... Goods.................................................................... Services ................................................................ Government consumption expenditures and gross investment................................................................ Federal...................................................................... National defense.................................................... Consumption expenditures................................ Gross investment............................................... Nondefense ........................................................... Consumption expenditures................................ Gross investment............................................... State and local ......................................................... Consumption expenditures.................................... Gross investment................................................... Residual ........................................................................ Addenda: Final sales of domestic product................................. Gross domestic purchases........................................ Final sales to domestic purchasers ........................... Gross domestic product ......................................... Plus: Income receipts from the rest of the world ....... Less: Income payments to the rest of the world........ Equals: Gross national product ............................. Net domestic product ................................................ 12,683.2 8,865.6 3,098.4 1,126.7 427.6 265.4 305.3 128.3 1,971.8 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II 12,748.7 12,915.9 12,962.5 12,965.9 13,060.7 13,099.9 13,204.0 13,321.1 13,391.2 13,366.9 13,415.3 13,324.6 13,141.9 12,925.4 12,892.4 8,888.5 8,986.6 9,035.0 9,090.7 9,181.6 9,265.1 9,291.5 9,335.6 9,363.6 9,349.6 9,351.0 9,267.7 9,195.3 9,209.2 9,180.5 3,089.5 3,145.7 3,150.8 3,176.4 3,222.5 3,253.9 3,255.4 3,280.6 3,304.8 3,262.1 3,257.8 3,193.6 3,110.4 3,129.8 3,097.9 1,098.4 1,142.3 1,139.4 1,152.1 1,167.9 1,183.7 1,189.9 1,205.0 1,221.2 1,193.2 1,175.7 1,139.6 1,076.8 1,087.2 1,067.5 378.5 393.3 393.2 400.3 399.7 402.4 404.1 400.5 402.6 384.4 361.4 337.8 306.2 311.2 301.5 272.2 279.3 276.2 277.6 278.8 284.1 281.2 283.6 285.6 280.9 282.6 274.4 264.2 259.4 254.1 316.7 334.5 336.6 343.0 358.8 366.9 373.1 388.1 401.6 399.8 410.3 407.6 394.3 403.1 399.0 131.1 135.5 133.8 131.9 132.2 132.3 133.8 136.1 135.8 133.3 129.2 128.3 121.4 123.5 123.0 1,990.7 2,003.7 2,011.6 2,024.5 2,054.7 2,070.3 2,066.1 2,076.8 2,086.0 2,070.1 2,081.4 2,051.5 2,026.1 2,035.5 2,022.4 669.9 674.9 315.1 325.0 302.7 300.3 683.8 690.7 5,767.1 5,798.9 676.7 329.5 296.4 701.9 5,841.0 684.2 327.2 297.2 703.7 5,884.2 686.6 331.7 300.0 706.9 5,914.3 697.5 337.5 299.9 721.1 5,959.4 700.8 343.9 301.5 725.8 6,011.7 696.2 343.3 301.3 726.9 6,036.2 699.2 347.3 301.5 730.7 6,055.5 706.6 349.2 298.5 734.2 6,059.7 708.0 347.8 292.6 724.8 6,087.1 708.9 353.6 289.9 733.9 6,092.5 699.6 343.3 280.1 735.4 6,072.4 686.4 335.4 287.2 720.8 6,080.4 687.4 334.0 293.2 724.7 6,076.0 695.1 328.1 292.2 710.0 6,077.3 5,554.4 5,582.5 1,594.3 1,602.8 1,321.3 1,327.0 287.2 285.1 326.5 328.4 527.2 533.0 717.2 719.3 780.7 786.8 5,618.2 1,598.9 1,337.3 283.2 332.4 544.7 726.0 795.8 5,652.1 1,617.8 1,339.2 284.7 334.0 538.7 731.3 806.3 5,671.4 1,627.6 1,335.8 284.5 338.1 538.7 735.6 811.0 5,716.0 1,622.5 1,347.7 287.5 345.2 544.4 748.8 820.1 5,770.8 1,629.3 1,365.1 289.0 347.7 545.3 762.8 831.8 5,799.2 1,630.1 1,371.7 289.4 349.0 546.5 776.7 836.2 5,809.8 1,634.6 1,377.6 288.6 351.6 548.0 779.1 830.9 5,804.8 1,633.1 1,387.6 286.3 351.6 550.8 770.5 825.2 5,827.3 1,643.8 1,409.0 280.7 351.1 547.5 766.1 829.6 5,831.2 1,647.3 1,418.2 275.7 352.4 550.9 763.8 823.4 5,805.2 1,641.6 1,416.1 272.1 349.6 547.3 758.5 820.6 5,806.6 1,656.3 1,422.4 266.7 346.1 535.9 750.6 829.2 5,817.2 1,656.9 1,434.3 261.9 347.7 533.7 751.4 832.2 5,822.8 1,653.4 1,442.1 261.9 347.0 530.9 756.5 832.1 212.8 874.5 216.4 880.3 222.8 891.5 232.1 899.0 243.1 903.7 243.6 909.8 241.0 919.5 237.0 919.8 245.9 923.9 255.5 935.1 260.6 949.5 262.2 955.0 268.4 957.2 275.4 965.1 259.4 957.8 254.6 955.5 661.7 2,154.9 2,143.0 1,359.7 347.2 1,012.5 663.8 2,232.2 2,151.0 1,367.3 349.3 1,018.2 668.7 2,264.7 2,200.2 1,424.9 364.8 1,060.7 667.0 2,261.2 2,189.9 1,450.3 383.7 1,066.3 660.9 2,229.6 2,162.2 1,466.0 393.2 1,072.0 666.5 2,166.0 2,132.9 1,474.5 394.6 1,079.3 678.6 2,132.6 2,118.8 1,489.6 409.2 1,078.1 682.8 2,162.2 2,137.7 1,530.3 430.7 1,095.2 678.3 2,166.5 2,135.6 1,565.8 456.8 1,101.3 680.1 2,123.4 2,113.0 1,591.3 469.1 1,113.3 689.7 2,082.9 2,079.2 1,598.9 476.8 1,111.9 693.5 2,026.5 2,064.8 1,604.4 493.2 1,097.7 689.8 1,990.7 2,020.4 1,579.2 493.1 1,071.0 691.0 1,857.7 1,909.3 1,496.1 484.0 993.7 698.7 1,558.5 1,687.5 1,321.2 419.4 887.5 700.7 1,471.9 1,627.5 1,290.6 409.8 866.9 481.5 ............. 219.9 181.7 160.7 189.7 180.5 783.3 11.8 4.6 7.2 –721.4 1,303.9 905.7 398.2 2,025.2 1,706.3 318.9 486.4 505.7 508.9 520.4 524.1 540.2 546.9 558.2 577.5 591.7 601.3 594.5 567.6 537.5 531.3 ............. .............. ............... .............. ............... .............. ............... .............. .............. ............... .............. ............... .............. ............... .............. 220.1 222.4 224.8 228.5 232.8 235.0 238.9 242.6 249.6 257.3 260.3 258.3 252.2 235.5 227.7 180.6 192.2 189.8 191.9 191.0 198.4 200.3 203.1 207.4 209.2 214.2 216.7 204.3 195.8 197.1 167.2 165.1 176.2 174.7 175.6 172.4 186.9 185.9 178.6 179.3 178.6 173.7 167.2 140.8 135.0 182.7 202.6 194.1 193.7 195.5 188.2 178.1 171.8 171.5 161.9 141.0 121.7 90.9 59.8 64.3 181.7 187.3 187.0 183.4 184.3 178.3 183.7 186.4 188.0 182.3 180.9 185.4 172.6 157.3 145.1 783.5 775.2 740.1 697.4 660.2 631.7 610.4 572.9 525.0 483.2 462.9 443.3 415.0 367.9 337.4 81.0 65.8 72.5 67.5 31.8 14.5 23.3 29.8 10.3 0.6 –37.1 –29.7 –37.4 –113.9 –141.1 2.6 3.8 –8.2 –6.3 –4.1 5.9 –4.4 –2.6 –2.0 –12.6 –1.6 –5.0 –1.9 0.3 2.7 78.4 62.3 80.4 73.9 36.2 8.3 27.9 32.7 12.5 14.5 –35.8 –24.5 –35.7 –114.9 –144.4 –745.3 –732.6 –732.8 –756.5 –694.9 –705.0 –683.4 –638.4 –564.0 –550.9 –476.0 –479.2 –470.9 –386.5 –339.3 1,336.7 1,388.8 1,412.1 1,414.1 1,473.2 1,485.9 1,504.8 1,569.9 1,624.0 1,623.4 1,670.4 1,655.2 1,568.0 1,434.5 1,408.9 931.3 970.3 987.8 988.3 1,019.2 1,026.7 1,042.4 1,078.9 1,111.0 1,122.4 1,159.9 1,154.8 1,072.9 956.1 933.0 405.4 418.5 424.3 425.8 453.9 459.2 462.3 490.9 512.9 501.1 510.5 500.4 494.9 477.2 474.4 2,082.0 2,121.3 2,144.9 2,170.5 2,168.1 2,190.8 2,188.1 2,208.3 2,188.0 2,174.3 2,146.5 2,134.4 2,038.9 1,821.0 1,748.2 1,755.7 1,782.7 1,804.7 1,829.3 1,818.6 1,841.1 1,836.5 1,849.4 1,831.6 1,815.4 1,794.0 1,777.1 1,682.6 1,474.4 1,411.8 326.2 338.6 340.1 341.3 349.5 349.8 351.6 359.0 356.4 359.0 352.5 357.7 356.9 346.2 335.7 2,383.9 2,373.4 890.4 875.6 603.7 580.9 526.9 506.4 76.8 74.5 286.7 294.7 249.9 254.8 36.8 39.9 1,493.5 1,497.7 1,213.7 1,213.5 279.8 284.2 0.7 0.4 12,671.2 13,404.4 13,392.4 12,683.2 579.4 473.0 12,789.5 11,134.9 12,667.2 13,494.2 13,412.9 12,748.7 613.6 536.7 12,825.6 11,183.7 2,397.1 900.5 595.6 519.2 76.4 305.0 264.4 40.5 1,496.6 1,214.1 282.5 –4.0 2,399.1 892.8 597.2 515.9 81.4 295.7 257.3 38.4 1,506.3 1,216.5 289.7 –2.8 2,402.7 892.0 594.3 516.7 77.6 297.7 259.0 38.7 1,510.8 1,222.3 288.4 –3.8 2,409.4 894.4 606.5 524.5 82.1 287.8 249.2 38.7 1,515.0 1,230.0 285.1 –6.3 2,409.5 882.8 594.7 514.6 80.1 288.1 249.7 38.4 1,526.5 1,235.6 290.8 –9.8 2,435.4 898.7 607.1 522.2 85.1 291.6 252.1 39.5 1,536.5 1,242.3 294.2 –6.4 2,458.9 919.0 621.7 535.9 86.0 297.2 256.8 40.5 1,540.0 1,245.1 294.9 –7.1 2,468.7 925.1 622.4 536.7 85.9 302.7 262.2 40.5 1,543.7 1,247.4 296.2 –11.9 2,484.7 943.4 634.8 545.4 89.7 308.6 268.4 40.2 1,541.9 1,249.6 292.3 –9.0 2,506.9 961.3 645.6 548.4 97.9 315.8 273.8 41.9 1,546.6 1,250.1 296.4 –5.5 2,536.6 991.6 675.4 574.0 102.1 315.9 273.3 42.6 1,547.0 1,252.5 294.4 1.0 2,544.0 1,007.3 681.7 578.7 103.8 325.4 278.4 47.2 1,539.3 1,253.6 285.9 8.4 2,527.2 996.3 672.8 571.5 102.0 323.4 280.1 43.3 1,533.3 1,252.3 281.5 –1.1 2,562.1 1,022.4 694.1 587.8 107.2 328.1 284.9 43.2 1,542.6 1,252.1 290.4 1.7 12,851.3 13,648.7 13,584.1 12,915.9 644.6 566.4 12,994.2 11,338.6 12,891.0 13,695.5 13,624.1 12,962.5 694.7 621.9 13,035.4 11,371.5 12,898.3 13,722.8 13,655.2 12,965.9 714.0 654.9 13,025.1 11,360.6 13,027.8 13,755.7 13,722.8 13,060.7 737.8 668.9 13,129.5 11,440.3 13,086.4 13,805.0 13,791.5 13,099.9 750.9 690.4 13,160.5 11,463.7 13,179.6 13,887.6 13,863.2 13,204.0 805.6 733.7 13,275.9 11,551.9 13,290.3 13,959.7 13,928.9 13,321.1 844.0 713.7 13,451.5 11,653.0 13,381.1 13,954.2 13,944.0 13,391.2 846.9 675.0 13,563.3 11,707.0 13,363.5 13,916.4 13,912.9 13,366.9 790.6 632.3 13,525.4 11,666.4 13,453.5 13,885.5 13,923.2 13,415.3 768.0 649.5 13,533.7 11,702.4 13,354.3 13,798.8 13,828.0 13,324.6 746.0 600.3 13,470.7 11,603.3 13,193.5 13,604.0 13,654.9 13,141.9 652.7 554.2 13,240.5 11,416.0 13,055.8 13,303.1 13,432.7 12,925.4 530.9 438.5 13,018.1 11,193.2 13,049.5 13,225.4 13,381.6 12,892.4 .............. .............. .............. 11,157.9 NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. See “Explanatory Note” at the end of the tables. Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I II 2005 III IV I II Gross domestic product (GDP).............................................. 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.7 Personal consumption expenditures................................................. 1.0 1.6 2.5 1.9 1.4 2.0 2.6 3.0 2.7 2.7 3.3 3.4 3.0 2.5 3.3 2.4 2.5 Goods................................................................................................ –1.5 0.5 2.0 –0.1 –1.0 –0.1 1.5 2.2 1.5 1.3 3.3 3.6 2.3 0.4 5.0 –0.4 1.0 Durable goods ............................................................................... –2.8 –2.7 –1.8 –2.0 –2.6 –3.5 –1.8 –1.0 –1.5 –1.8 –1.2 –0.2 –0.3 –2.9 0.2 –0.4 –0.6 Nondurable goods ......................................................................... –0.7 2.5 4.3 1.1 –0.1 2.1 3.6 4.0 3.2 2.9 5.6 5.8 3.8 2.4 7.9 –0.4 2.0 Services ............................................................................................ 2.4 2.2 2.8 3.0 2.7 3.2 3.2 3.4 3.4 3.4 3.4 3.2 3.4 3.6 2.4 4.0 3.3 Gross private domestic investment................................................... –1.1 –0.1 1.1 0.9 0.4 1.4 3.5 4.6 4.4 2.2 0.6 4.1 4.9 4.3 3.8 4.7 4.3 Fixed investment................................................................................ –0.9 –0.1 1.2 0.9 0.4 1.5 3.5 4.7 4.4 2.2 0.8 4.1 4.9 4.4 3.8 4.8 4.5 Nonresidential ............................................................................... –2.2 –1.4 0.0 –0.4 –0.4 0.0 1.6 3.3 3.5 2.6 1.6 1.2 2.8 2.1 2.4 4.5 3.2 Structures.................................................................................. 4.6 3.1 3.9 5.2 4.2 3.6 7.6 13.1 12.9 7.4 3.2 8.6 9.4 11.6 12.9 12.9 11.5 Equipment and software............................................................ –4.4 –2.9 –1.2 –2.4 –2.0 –1.2 –0.4 0.1 0.2 0.5 0.7 –1.1 0.7 –0.9 –0.9 1.8 0.5 Residential..................................................................................... 2.7 3.8 4.4 4.6 2.5 4.8 7.3 7.2 6.1 1.3 –1.6 9.7 8.8 8.5 6.2 5.2 6.8 Change in private inventories ............................................................ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ Net exports of goods and services.................................................... ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ ............ ........... ............ ............ ............ Exports .............................................................................................. –2.3 –0.6 1.8 –0.4 –0.4 2.2 3.5 3.6 3.4 3.5 4.9 5.2 5.0 2.0 4.5 4.5 2.9 Goods............................................................................................ –3.2 –1.4 1.3 –0.6 –0.7 2.0 3.6 3.2 3.3 3.6 5.0 5.6 5.7 1.3 4.0 4.2 2.6 Services ........................................................................................ –0.1 1.2 3.0 0.1 0.2 2.6 3.3 4.6 3.7 3.5 4.8 4.2 3.6 3.7 5.6 5.0 3.5 Imports .............................................................................................. –5.4 0.6 4.3 –2.4 –1.1 3.5 4.8 6.2 4.1 3.7 10.7 9.2 5.7 4.2 10.0 3.4 5.7 Goods............................................................................................ –6.0 0.1 4.9 –2.9 –1.8 2.9 4.9 6.5 4.2 3.7 11.4 10.1 5.9 3.9 10.8 3.4 5.8 Services ........................................................................................ –2.0 3.2 1.2 0.0 2.2 6.3 4.5 4.6 3.8 3.9 7.2 5.0 4.8 5.9 6.0 3.4 5.3 Government consumption expenditures and gross investment..... 1.4 3.2 4.0 2.7 2.6 4.2 4.3 5.8 4.8 4.5 4.5 6.7 4.9 5.0 6.0 7.4 4.5 Federal .............................................................................................. 1.1 2.5 3.3 2.0 3.7 4.2 4.7 4.9 4.1 3.5 3.0 11.6 5.1 2.4 2.8 12.0 2.1 National defense............................................................................ 1.1 2.5 3.3 2.0 3.8 4.7 4.7 5.4 4.4 3.7 3.3 10.4 5.2 2.8 3.6 13.0 2.2 Nondefense ................................................................................... 1.3 2.6 3.3 2.0 3.6 3.5 4.9 3.9 3.5 3.1 2.1 14.0 5.0 1.6 1.1 10.0 1.8 State and local................................................................................... 1.5 3.6 4.4 3.1 2.1 4.2 4.0 6.3 5.3 5.1 5.4 4.0 4.8 6.5 7.9 4.8 5.9 Addenda: Final sales of domestic product......................................................... 1.2 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.8 Gross domestic purchases................................................................ 0.7 1.6 2.5 1.9 1.4 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.8 3.7 3.2 Final sales to domestic purchasers ................................................... 0.7 1.6 2.5 1.9 1.4 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.8 3.7 3.2 Gross national product (GNP) ........................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.7 Implicit price deflators: GDP............................................................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.4 2.9 3.0 3.7 2.7 Gross domestic purchases............................................................ 0.7 1.6 2.5 1.9 1.5 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.9 3.6 3.2 GNP............................................................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.4 2.9 3.0 3.7 2.8 Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II Gross domestic product (GDP).............................................. 4.2 3.4 3.0 3.6 3.1 1.8 4.2 2.7 1.6 2.3 1.9 1.8 4.0 0.1 1.9 0.2 Personal consumption expenditures................................................. 4.6 3.6 1.7 3.0 3.0 –0.1 3.7 3.2 2.3 5.1 3.7 3.9 4.7 –5.0 –1.5 1.3 Goods................................................................................................ 7.2 1.4 –0.3 2.6 2.2 –5.8 3.2 3.7 0.3 7.0 5.2 3.8 6.8 –16.1 –6.0 2.6 Durable goods ............................................................................... –3.0 –0.7 –1.2 –1.6 –1.9 –2.0 –1.6 –1.4 –2.8 –1.4 0.0 –0.9 –1.2 –3.3 –1.7 0.3 Nondurable goods ......................................................................... 13.5 2.6 0.1 5.0 4.5 –7.7 5.9 6.6 1.9 11.5 7.8 6.1 10.8 –21.5 –7.9 3.7 Services ............................................................................................ 3.2 4.7 2.8 3.3 3.3 3.1 4.0 2.9 3.4 4.2 2.9 4.0 3.6 1.0 0.7 0.7 Gross private domestic investment................................................... 5.4 5.7 4.7 3.5 2.5 3.8 2.8 0.6 0.8 1.0 –1.6 0.6 2.3 5.3 –1.8 –2.5 Fixed investment................................................................................ 5.6 5.7 4.7 3.5 2.4 3.7 2.7 0.8 0.8 1.1 –0.7 1.1 2.5 1.3 –2.0 –2.5 Nonresidential ............................................................................... 2.7 4.7 3.5 3.3 3.0 3.9 3.2 1.6 0.9 1.3 –0.3 2.1 4.4 4.4 –1.3 –3.7 Structures.................................................................................. 16.4 18.5 11.8 11.4 8.0 11.5 9.2 3.7 3.3 3.4 0.6 2.7 6.7 7.9 –3.5 –9.1 Equipment and software............................................................ –1.7 0.1 0.6 0.3 1.0 0.7 0.6 0.6 –0.2 0.2 –0.7 1.7 3.1 2.5 0.1 –0.5 Residential..................................................................................... 10.9 7.7 7.1 4.1 1.3 3.4 1.5 –1.1 0.6 0.9 –1.5 –1.6 –3.8 –9.5 –4.9 2.5 Change in private inventories ............................................................ ............. ............. ............ ............. ............. ............ ............. ............. ............. ............ ............. ............. ............. ............ ............. ............. Net exports of goods and services.................................................... ............. ............. ............ ............. ............. ............ ............. ............. ............. ............ ............. ............. ............. ............ ............. ............. Exports .............................................................................................. 2.9 3.1 2.9 5.2 5.0 0.2 3.6 4.5 3.3 6.7 7.6 10.2 6.3 –21.4 –12.6 0.4 Goods............................................................................................ 1.7 2.7 2.7 5.5 5.5 0.9 3.1 4.2 3.0 6.8 8.3 12.1 5.6 –25.4 –14.8 2.4 Services ........................................................................................ 5.8 3.8 3.4 4.4 3.9 –1.6 4.5 5.1 4.2 6.5 6.0 6.0 7.8 –11.9 –8.1 –3.3 Imports .............................................................................................. 8.5 8.1 1.6 4.2 3.1 –4.6 3.2 6.3 6.2 20.5 15.5 21.4 7.1 –34.3 –28.3 4.3 Goods............................................................................................ 9.1 9.7 0.8 4.0 3.2 –5.4 3.4 6.2 6.1 22.9 17.2 22.4 7.1 –37.0 –31.6 5.5 Services ........................................................................................ 5.4 –0.4 6.2 5.5 2.7 –0.2 2.3 7.2 6.6 8.7 7.0 16.9 7.5 –19.1 –12.1 –0.3 Government consumption expenditures and gross investment..... 5.9 4.9 5.3 5.6 3.1 2.4 7.1 4.7 2.7 5.5 6.3 6.3 4.2 –5.8 –1.1 0.6 Federal .............................................................................................. 3.0 1.2 9.8 4.3 1.2 0.5 8.6 3.5 0.6 2.5 5.6 4.4 1.9 –4.1 1.7 0.6 National defense............................................................................ 3.0 1.6 10.5 4.6 1.5 0.3 8.3 4.1 1.2 3.3 5.5 5.7 2.4 –6.0 0.9 0.5 Nondefense ................................................................................... 3.1 0.4 8.4 3.7 0.7 0.9 9.0 2.3 –0.7 0.9 6.0 1.7 0.8 0.2 3.3 0.9 State and local................................................................................... 7.7 7.1 2.8 6.4 4.2 3.4 6.3 5.3 3.9 7.3 6.6 7.4 5.6 –6.9 –2.8 0.6 Addenda: Final sales of domestic product......................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.2 2.7 1.6 2.3 2.0 1.9 4.0 –0.5 1.8 0.2 Gross domestic purchases................................................................ 5.0 4.1 2.8 3.6 2.9 1.0 4.2 3.1 2.2 4.6 3.4 3.9 4.3 –3.8 –1.4 0.7 Final sales to domestic purchasers ................................................... 5.0 4.1 2.8 3.6 2.9 1.0 4.2 3.1 2.2 4.6 3.5 4.0 4.3 –4.3 –1.5 0.7 Gross national product (GNP) ........................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.6 2.3 1.9 1.8 4.0 0.0 1.8 ............. Implicit price deflators: GDP............................................................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.7 2.4 1.7 2.0 4.1 0.0 1.9 0.2 Gross domestic purchases............................................................ 5.0 4.2 2.8 3.5 2.9 0.9 4.2 3.0 2.2 4.6 3.2 4.1 4.4 –3.9 –1.4 0.7 GNP............................................................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.7 2.4 1.8 2.0 4.2 –0.1 1.9 ............. See “Explanatory Note” at the end of the tables. Table 4A. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Continues Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I II 2005 III IV I II Gross domestic product (GDP).............................................. 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.7 Previously published ............................................................. 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 Personal consumption expenditures................................................. 1.0 1.6 2.5 1.9 1.4 2.0 2.6 3.0 2.7 2.7 3.3 3.4 3.0 2.5 3.3 2.4 2.5 Previously published.......................................................................... 0.9 1.7 2.5 2.1 1.4 2.0 2.6 2.9 2.8 2.6 3.3 3.5 3.8 2.0 3.0 2.5 2.5 Gross private domestic investment................................................... –1.1 –0.1 1.1 0.9 0.4 1.4 3.5 4.6 4.4 2.2 0.6 4.1 4.9 4.3 3.8 4.7 4.3 Previously published.......................................................................... –1.1 –0.1 1.0 1.0 0.6 1.5 3.4 4.4 4.2 1.4 0.7 4.1 4.7 3.9 3.9 4.7 4.0 Fixed investment................................................................................ –0.9 –0.1 1.2 0.9 0.4 1.5 3.5 4.7 4.4 2.2 0.8 4.1 4.9 4.4 3.8 4.8 4.5 Previously published...................................................................... –0.9 0.0 1.1 1.0 0.6 1.6 3.4 4.5 4.2 1.4 0.6 4.1 4.7 3.9 3.9 4.7 4.2 Nonresidential ............................................................................... –2.2 –1.4 0.0 –0.4 –0.4 0.0 1.6 3.3 3.5 2.6 1.6 1.2 2.8 2.1 2.4 4.5 3.2 Previously published.................................................................. –2.2 –1.3 –0.1 –0.3 –0.2 0.1 1.3 2.9 3.3 1.4 1.6 1.1 2.4 1.3 2.5 4.4 2.7 Structures.................................................................................. 4.6 3.1 3.9 5.2 4.2 3.6 7.6 13.1 12.9 7.4 3.2 8.6 9.4 11.6 12.9 12.9 11.5 Previously published ............................................................. 4.6 3.0 3.9 5.4 4.4 3.5 6.2 11.8 12.3 3.8 3.6 6.8 7.6 10.1 12.0 11.9 10.1 Equipment and software............................................................ –4.4 –2.9 –1.2 –2.4 –2.0 –1.2 –0.4 0.1 0.2 0.5 0.7 –1.1 0.7 –0.9 –0.9 1.8 0.5 Previously published ............................................................. –4.5 –2.8 –1.3 –2.3 –1.8 –1.1 –0.3 –0.1 0.1 0.3 0.6 –0.8 0.7 –1.7 –0.6 1.8 0.1 Residential..................................................................................... 2.7 3.8 4.4 4.6 2.5 4.8 7.3 7.2 6.1 1.3 –1.6 9.7 8.8 8.5 6.2 5.2 6.8 Previously published.................................................................. 2.7 3.8 4.4 4.6 2.5 4.8 7.3 7.2 5.9 1.5 –2.4 9.8 8.8 8.5 6.2 5.2 6.8 Change in private inventories ............................................................ ............. ........... ........... ............ ............ ........... ............ ............ ............ ........... ............ ............ ............ ........... ............ ............ ............ Net exports of goods and services.................................................... ............. ........... ........... ............ ............ ........... ............ ............ ............ ........... ............ ............ ............ ........... ............ ............ ............ Exports .............................................................................................. –2.3 –0.6 1.8 –0.4 –0.4 2.2 3.5 3.6 3.4 3.5 4.9 5.2 5.0 2.0 4.5 4.5 2.9 Previously published...................................................................... –2.3 –0.6 1.7 –0.4 –0.4 2.2 3.5 3.6 3.5 3.5 5.3 5.5 4.8 1.9 4.2 4.6 3.5 Goods............................................................................................ –3.2 –1.4 1.3 –0.6 –0.7 2.0 3.6 3.2 3.3 3.6 5.0 5.6 5.7 1.3 4.0 4.2 2.6 Previously published.................................................................. –3.2 –1.4 1.1 –0.7 –0.7 2.0 3.7 3.1 3.3 3.5 5.3 6.3 5.2 1.0 3.6 4.3 3.0 Services ........................................................................................ –0.1 1.2 3.0 0.1 0.2 2.6 3.3 4.6 3.7 3.5 4.8 4.2 3.6 3.7 5.6 5.0 3.5 Previously published.................................................................. –0.1 1.3 3.1 0.4 0.4 2.6 3.2 4.9 3.8 3.5 5.4 3.9 3.8 3.8 5.5 5.2 4.6 Imports .............................................................................................. –5.4 0.6 4.3 –2.4 –1.1 3.5 4.8 6.2 4.1 3.7 10.7 9.2 5.7 4.2 10.0 3.4 5.7 Previously published...................................................................... –5.4 0.6 4.2 –2.5 –1.2 3.5 4.9 6.3 4.3 3.7 10.4 9.2 7.3 5.3 6.9 2.3 9.7 Goods............................................................................................ –6.0 0.1 4.9 –2.9 –1.8 2.9 4.9 6.5 4.2 3.7 11.4 10.1 5.9 3.9 10.8 3.4 5.8 Previously published.................................................................. –6.0 0.1 4.8 –3.0 –1.8 2.9 4.9 6.5 4.2 3.6 11.1 10.0 7.9 5.0 7.0 2.1 10.0 Services ........................................................................................ –2.0 3.2 1.2 0.0 2.2 6.3 4.5 4.6 3.8 3.9 7.2 5.0 4.8 5.9 6.0 3.4 5.3 Previously published.................................................................. –2.2 3.2 1.4 0.1 1.7 6.3 4.4 5.7 4.8 3.7 7.1 4.9 4.7 6.7 6.0 3.5 7.9 Government consumption expenditures and gross investment..... 1.4 3.2 4.0 2.7 2.6 4.2 4.3 5.8 4.8 4.5 4.5 6.7 4.9 5.0 6.0 7.4 4.5 Previously published.......................................................................... 1.4 2.8 4.1 2.5 2.9 4.1 4.5 5.9 4.7 4.5 4.7 7.2 5.0 4.8 5.7 7.7 4.1 Federal .............................................................................................. 1.1 2.5 3.3 2.0 3.7 4.2 4.7 4.9 4.1 3.5 3.0 11.6 5.1 2.4 2.8 12.0 2.1 Previously published...................................................................... 1.0 2.5 3.2 1.9 3.7 4.2 4.7 4.8 4.1 3.4 3.2 11.6 5.5 2.5 2.6 11.8 1.7 National defense............................................................................ 1.1 2.5 3.3 2.0 3.8 4.7 4.7 5.4 4.4 3.7 3.3 10.4 5.2 2.8 3.6 13.0 2.2 Previously published.................................................................. 1.0 2.4 3.2 2.0 3.7 4.7 4.7 5.2 4.5 3.5 3.6 10.6 5.6 2.9 3.1 12.6 1.8 Nondefense ................................................................................... 1.3 2.6 3.3 2.0 3.6 3.5 4.9 3.9 3.5 3.1 2.1 14.0 5.0 1.6 1.1 10.0 1.8 Previously published.................................................................. 1.2 2.8 3.2 1.7 3.5 3.4 4.9 4.0 3.4 3.1 2.6 13.8 5.2 1.4 1.7 10.2 1.6 State and local................................................................................... 1.5 3.6 4.4 3.1 2.1 4.2 4.0 6.3 5.3 5.1 5.4 4.0 4.8 6.5 7.9 4.8 5.9 Previously published...................................................................... 1.7 2.9 4.5 2.9 2.5 4.1 4.3 6.5 5.1 5.1 5.6 4.6 4.7 6.2 7.6 5.3 5.6 Addenda: Final sales of domestic product......................................................... 1.2 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.8 Previously published...................................................................... 1.2 1.5 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 Gross domestic purchases................................................................ 0.7 1.6 2.5 1.9 1.4 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.8 3.7 3.2 Previously published...................................................................... 0.6 1.6 2.5 2.0 1.6 2.3 3.1 3.7 3.4 2.8 3.2 4.3 4.2 2.8 3.6 3.7 3.1 Final sales to domestic purchasers ................................................... 0.7 1.6 2.5 1.9 1.4 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.8 3.7 3.2 Previously published...................................................................... 0.7 1.6 2.5 2.0 1.6 2.3 3.1 3.7 3.4 2.8 3.2 4.3 4.2 2.7 3.6 3.7 3.1 Gross national product (GNP) ........................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.5 3.0 3.0 3.8 2.7 Previously published...................................................................... 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 Implicit price deflators: GDP............................................................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.4 2.9 3.0 3.7 2.7 Previously published.................................................................. 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 Gross domestic purchases............................................................ 0.7 1.6 2.5 1.9 1.5 2.3 3.0 3.7 3.4 2.9 3.2 4.1 3.6 3.2 3.9 3.6 3.2 Previously published.................................................................. 0.6 1.6 2.5 2.0 1.6 2.3 3.1 3.7 3.4 2.8 3.2 4.3 4.2 2.7 3.7 3.7 3.1 GNP............................................................................................... 1.1 1.5 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 3.5 3.4 2.9 3.0 3.7 2.8 Previously published.................................................................. 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. Table 4A. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Table Ends Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I Gross domestic product (GDP).............................................. 4.2 3.4 3.0 3.6 3.1 1.8 4.2 2.7 1.6 2.3 1.9 1.8 4.0 0.1 1.9 Previously published ............................................................. 4.1 3.7 3.5 2.7 2.8 2.2 4.1 2.0 1.5 2.8 2.6 1.1 3.9 0.5 2.8 Personal consumption expenditures................................................. 4.6 3.6 1.7 3.0 3.0 –0.1 3.7 3.2 2.3 5.1 3.7 3.9 4.7 –5.0 –1.5 Previously published.......................................................................... 4.7 3.3 1.8 3.3 3.1 –0.5 3.4 3.6 2.5 4.3 3.6 4.3 5.0 –4.9 –0.9 Gross private domestic investment................................................... 5.4 5.7 4.7 3.5 2.5 3.8 2.8 0.6 0.8 1.0 –1.6 0.6 2.3 5.3 –1.8 Previously published.......................................................................... 5.0 5.4 5.2 3.5 1.6 3.3 1.6 –0.3 –0.3 1.3 –0.5 0.4 2.0 4.4 –2.2 Fixed investment................................................................................ 5.6 5.7 4.7 3.5 2.4 3.7 2.7 0.8 0.8 1.1 –0.7 1.1 2.5 1.3 –2.0 Previously published...................................................................... 5.3 5.7 5.0 3.4 1.5 3.2 1.6 –0.2 –0.4 1.2 –0.2 0.8 2.3 1.2 –2.3 Nonresidential ............................................................................... 2.7 4.7 3.5 3.3 3.0 3.9 3.2 1.6 0.9 1.3 –0.3 2.1 4.4 4.4 –1.3 Previously published.................................................................. 2.0 4.4 4.3 3.3 1.7 2.9 1.3 0.3 –0.6 1.7 0.6 2.3 4.2 4.6 –1.5 Structures.................................................................................. 16.4 18.5 11.8 11.4 8.0 11.5 9.2 3.7 3.3 3.4 0.6 2.7 6.7 7.9 –3.5 Previously published ............................................................. 14.8 17.0 14.1 12.0 4.6 6.7 3.4 0.7 0.5 4.5 2.7 3.3 7.1 7.4 –4.4 Equipment and software............................................................ –1.7 0.1 0.6 0.3 1.0 0.7 0.6 0.6 –0.2 0.2 –0.7 1.7 3.1 2.5 0.1 Previously published ............................................................. –2.3 0.2 0.7 –0.1 0.5 1.2 0.4 0.1 –1.2 0.4 –0.4 1.7 2.6 3.0 0.2 Residential..................................................................................... 10.9 7.7 7.1 4.1 1.3 3.4 1.5 –1.1 0.6 0.9 –1.5 –1.6 –3.8 –9.5 –4.9 Previously published.................................................................. 11.0 7.8 6.4 3.7 1.2 3.9 2.2 –1.3 0.3 0.0 –2.6 –3.5 –3.3 –9.4 –4.9 Change in private inventories ............................................................ .............. .............. ............. .............. .............. .............. .............. ............. .............. .............. .............. ............. .............. .............. .............. Net exports of goods and services.................................................... .............. .............. ............. .............. .............. .............. .............. ............. .............. .............. .............. ............. .............. .............. .............. Exports .............................................................................................. 2.9 3.1 2.9 5.2 5.0 0.2 3.6 4.5 3.3 6.7 7.6 10.2 6.3 –21.4 –12.6 Previously published...................................................................... 2.5 3.2 2.9 5.8 4.7 –0.8 3.6 5.3 3.5 6.2 9.1 10.8 6.7 –23.0 –10.8 Goods............................................................................................ 1.7 2.7 2.7 5.5 5.5 0.9 3.1 4.2 3.0 6.8 8.3 12.1 5.6 –25.4 –14.8 Previously published.................................................................. 1.3 2.2 3.0 6.2 5.2 0.0 3.3 5.1 2.8 6.0 10.0 12.3 5.6 –26.0 –11.6 Services ........................................................................................ 5.8 3.8 3.4 4.4 3.9 –1.6 4.5 5.1 4.2 6.5 6.0 6.0 7.8 –11.9 –8.1 Previously published.................................................................. 5.3 5.5 2.7 4.9 3.7 –2.6 4.3 5.9 5.2 6.6 6.9 7.5 9.3 –16.1 –9.3 Imports .............................................................................................. 8.5 8.1 1.6 4.2 3.1 –4.6 3.2 6.3 6.2 20.5 15.5 21.4 7.1 –34.3 –28.3 Previously published...................................................................... 10.3 4.5 –1.1 10.3 5.0 –9.1 0.9 12.8 7.4 12.8 12.8 28.8 9.2 –37.3 –29.6 Goods............................................................................................ 9.1 9.7 0.8 4.0 3.2 –5.4 3.4 6.2 6.1 22.9 17.2 22.4 7.1 –37.0 –31.6 Previously published.................................................................. 10.8 5.0 –2.0 10.4 5.4 –10.1 0.8 13.0 7.7 14.5 13.8 31.2 9.8 –41.3 –32.9 Services ........................................................................................ 5.4 –0.4 6.2 5.5 2.7 –0.2 2.3 7.2 6.6 8.7 7.0 16.9 7.5 –19.1 –12.1 Previously published.................................................................. 7.8 2.0 4.1 9.9 3.2 –3.8 1.1 11.7 6.1 4.5 7.8 16.8 6.2 –13.3 –13.4 Government consumption expenditures and gross investment..... 5.9 4.9 5.3 5.6 3.1 2.4 7.1 4.7 2.7 5.5 6.3 6.3 4.2 –5.8 –1.1 Previously published.......................................................................... 7.0 4.8 4.9 4.9 3.3 2.3 6.4 5.2 3.4 5.1 6.2 7.0 4.4 –5.8 –0.4 Federal .............................................................................................. 3.0 1.2 9.8 4.3 1.2 0.5 8.6 3.5 0.6 2.5 5.6 4.4 1.9 –4.1 1.7 Previously published...................................................................... 3.1 0.8 10.2 4.1 1.2 0.9 7.6 3.7 0.9 2.3 5.6 5.1 2.7 –3.4 2.7 National defense............................................................................ 3.0 1.6 10.5 4.6 1.5 0.3 8.3 4.1 1.2 3.3 5.5 5.7 2.4 –6.0 0.9 Previously published.................................................................. 3.2 1.3 10.9 4.4 1.5 0.7 7.0 4.3 1.6 3.1 5.1 6.3 3.1 –4.5 2.7 Nondefense ................................................................................... 3.1 0.4 8.4 3.7 0.7 0.9 9.0 2.3 –0.7 0.9 6.0 1.7 0.8 0.2 3.3 Previously published.................................................................. 3.0 –0.1 8.9 3.5 0.5 1.2 8.8 2.6 –0.5 0.5 6.8 2.8 1.9 –0.9 2.6 State and local................................................................................... 7.7 7.1 2.8 6.4 4.2 3.4 6.3 5.3 3.9 7.3 6.6 7.4 5.6 –6.9 –2.8 Previously published...................................................................... 9.4 7.3 2.0 5.4 4.6 3.2 5.7 6.1 4.9 6.8 6.6 8.1 5.5 –7.3 –2.3 Addenda: Final sales of domestic product......................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.2 2.7 1.6 2.3 2.0 1.9 4.0 –0.5 1.8 Previously published...................................................................... 4.1 3.8 3.5 2.7 2.7 2.2 4.1 2.0 1.5 2.8 2.7 1.2 4.0 0.1 2.8 Gross domestic purchases................................................................ 5.0 4.1 2.8 3.6 2.9 1.0 4.2 3.1 2.2 4.6 3.4 3.9 4.3 –3.8 –1.4 Previously published...................................................................... 5.2 3.9 2.9 3.6 2.9 0.6 3.6 3.3 2.2 4.0 3.5 4.2 4.5 –3.9 –1.0 Final sales to domestic purchasers ................................................... 5.0 4.1 2.8 3.6 2.9 1.0 4.2 3.1 2.2 4.6 3.5 4.0 4.3 –4.3 –1.5 Previously published...................................................................... 5.2 4.0 2.8 3.6 2.9 0.6 3.7 3.3 2.2 4.0 3.5 4.3 4.5 –4.3 –1.0 Gross national product (GNP) ........................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.6 2.3 1.9 1.8 4.0 0.0 1.8 Previously published...................................................................... 4.1 3.7 3.5 2.7 2.8 2.2 4.1 2.0 1.5 2.8 2.6 1.1 3.9 0.6 2.8 Implicit price deflators: GDP............................................................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.7 2.4 1.7 2.0 4.1 0.0 1.9 Previously published.................................................................. 4.1 3.8 3.6 2.7 2.7 2.2 4.2 2.0 1.5 2.5 2.6 1.3 3.9 0.6 2.8 Gross domestic purchases............................................................ 5.0 4.2 2.8 3.5 2.9 0.9 4.2 3.0 2.2 4.6 3.2 4.1 4.4 –3.9 –1.4 Previously published.................................................................. 5.2 4.0 2.9 3.6 2.9 0.6 3.7 3.3 2.2 3.7 3.4 4.4 4.4 –3.8 –1.0 GNP............................................................................................... 4.2 3.4 3.0 3.6 3.1 1.8 4.3 2.7 1.7 2.4 1.8 2.0 4.2 –0.1 1.9 Previously published.................................................................. 4.1 3.8 3.6 2.7 2.8 2.1 4.2 2.0 1.5 2.5 2.5 1.3 3.9 0.6 2.7 NOTE. Comparisons of the revised estimates for components of personal consumption expenditures (PCE) with the previously published estimates are not shown because the composition of these components changed as part of the new classification system that was adopted for PCE. See text. See “Explanatory Note” at the end of the tables. Table 5. Real Gross Domestic Product, Quantity Indexes [Index numbers, 2005=100] 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Gross domestic product..................................................... 81.367 85.295 88.825 89.783 91.412 93.688 97.036 100.000 102.673 104.872 105.331 Personal consumption expenditures ................................................ 77.849 82.106 86.270 88.603 90.962 93.520 96.754 100.000 102.886 105.612 105.351 Goods................................................................................................ 72.175 77.924 82.034 84.611 88.050 92.060 96.141 100.000 103.251 106.499 104.296 Durable goods............................................................................... 60.352 68.185 74.167 78.193 84.130 89.203 95.073 100.000 104.064 108.543 103.692 Nondurable goods......................................................................... 80.285 84.375 87.111 88.681 90.440 93.763 96.756 100.000 102.805 105.405 104.513 Services ............................................................................................ 81.145 84.469 88.654 90.837 92.568 94.314 97.084 100.000 102.692 105.147 105.883 Gross private domestic investment................................................... 78.034 84.903 90.704 84.333 83.185 86.162 94.753 100.000 102.678 98.801 91.585 Fixed investment ............................................................................... 76.822 83.969 90.178 88.470 84.726 87.464 93.884 100.000 102.309 100.189 95.106 Nonresidential ............................................................................... 80.707 89.129 97.864 95.137 87.593 88.398 93.743 100.000 107.913 114.617 116.502 Structures.................................................................................. 115.911 116.049 125.101 123.191 101.377 97.514 98.571 100.000 109.180 125.495 138.392 Equipment and software ........................................................... 71.358 81.451 89.976 87.073 83.397 85.516 92.141 100.000 107.434 110.184 107.332 Residential .................................................................................... 69.737 74.098 74.839 75.263 79.210 85.724 94.136 100.000 92.679 75.490 58.213 Change in private inventories............................................................ ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................ Exports of goods and services.......................................................... 80.343 83.849 91.054 85.946 84.224 85.574 93.698 100.000 108.962 118.472 124.842 Imports of goods and services .......................................................... 64.165 71.550 80.871 78.596 81.270 84.857 94.231 100.000 106.086 108.188 104.721 Government consumption expenditures and gross investment .... 83.759 86.761 88.519 91.917 96.192 98.336 99.668 100.000 101.359 103.090 106.252 Federal .............................................................................................. 77.758 79.270 79.661 82.901 88.953 94.839 98.710 100.000 102.127 103.434 111.362 State and local .................................................................................. 87.291 91.179 93.744 97.236 100.473 100.408 100.234 100.000 100.910 102.886 103.355 Addenda: Final sales of domestic product......................................................... 81.162 85.123 88.713 90.494 91.699 93.934 96.900 100.000 102.611 105.131 105.980 Gross domestic purchases................................................................ 78.885 83.385 87.428 88.508 90.619 93.175 96.942 100.000 102.579 104.046 103.294 Final sales to domestic purchasers................................................... 78.682 83.216 87.318 89.180 90.889 93.406 96.812 100.000 102.520 104.288 103.896 Gross national product ...................................................................... 80.907 84.897 88.483 89.550 91.138 93.551 97.039 100.000 102.438 104.925 105.552 Seasonally adjusted 2004 I II 2005 III IV I II 2006 III IV I II III IV Gross domestic product..................................................... 95.959 96.641 97.351 98.195 99.175 99.598 100.354 100.873 102.196 102.564 102.592 103.341 Personal consumption expenditures ................................................ 95.676 96.193 97.016 98.132 98.866 99.818 100.528 100.788 101.901 102.450 103.081 104.112 Goods................................................................................................ 94.975 95.375 96.502 97.711 98.657 100.038 100.797 100.508 102.335 102.501 103.334 104.835 Durable goods............................................................................... 93.265 93.919 95.768 97.340 97.992 100.733 101.917 99.359 103.327 103.064 104.216 105.647 Nondurable goods......................................................................... 95.962 96.217 96.921 97.925 99.045 99.650 100.174 101.132 101.793 102.191 102.851 104.383 Services ............................................................................................ 96.052 96.633 97.294 98.359 98.978 99.700 100.384 100.937 101.670 102.421 102.945 103.731 Gross private domestic investment................................................... 90.691 94.630 95.857 97.833 99.911 98.124 99.205 102.761 104.258 104.098 102.643 99.712 Fixed investment ............................................................................... 90.404 93.189 95.166 96.779 97.968 99.704 100.975 101.352 103.670 103.186 101.880 100.499 Nonresidential ............................................................................... 90.124 92.555 95.095 97.197 98.086 99.516 100.919 101.479 105.759 107.643 108.811 109.440 Structures.................................................................................. 97.210 98.337 99.325 99.414 101.195 100.812 98.696 99.297 103.696 109.068 111.771 112.185 Equipment and software ........................................................... 87.831 90.653 93.669 96.410 96.994 99.041 101.697 102.268 106.542 107.101 107.681 108.414 Residential .................................................................................... 90.904 94.324 95.284 96.032 97.773 100.049 101.073 101.105 100.031 95.502 89.988 85.194 Change in private inventories............................................................ ................ ............... ............... ............... ................ ............... ............... ............... ................ ............... ............... ............... Exports of goods and services.......................................................... 91.743 93.175 93.869 96.006 97.788 99.880 99.908 102.424 106.415 108.200 108.353 112.882 Imports of goods and services .......................................................... 90.235 93.849 95.213 97.626 98.187 99.266 99.874 102.673 104.613 105.774 107.040 106.917 Government consumption expenditures and gross investment .... 99.366 99.730 100.094 99.482 99.577 99.685 100.590 100.147 101.147 101.232 101.386 101.670 Federal .............................................................................................. 97.749 98.304 100.010 98.778 99.190 99.286 101.608 99.915 102.763 101.887 101.792 102.066 State and local .................................................................................. 100.325 100.575 100.140 99.895 99.806 99.922 99.995 100.277 100.205 100.851 101.149 101.437 Addenda: Final sales of domestic product......................................................... 95.931 96.408 97.241 98.020 98.847 99.870 100.657 100.626 102.088 102.403 102.462 103.490 Gross domestic purchases................................................................ 95.518 96.559 97.368 98.321 99.161 99.519 100.324 100.996 102.153 102.503 102.707 102.953 Final sales to domestic purchasers................................................... 95.491 96.338 97.264 98.156 98.849 99.776 100.611 100.764 102.051 102.351 102.585 103.092 Gross national product ...................................................................... 96.138 96.604 97.393 98.023 99.270 99.599 100.424 100.707 102.032 102.354 102.274 103.094 Seasonally adjusted 2007 I II 2008 III IV I II 2009 III IV I II Gross domestic product..................................................... 103.652 104.475 105.402 105.957 105.764 106.147 105.430 103.984 102.271 102.010 Personal consumption expenditures ................................................ 105.059 105.358 105.858 106.175 106.016 106.032 105.088 104.267 104.425 104.099 Goods................................................................................................ 105.854 105.904 106.724 107.513 106.121 105.983 103.895 101.186 101.817 100.780 Durable goods............................................................................... 107.074 107.634 109.001 110.464 107.931 106.354 103.083 97.401 98.345 96.560 Nondurable goods......................................................................... 105.177 104.961 105.507 105.973 105.165 105.738 104.219 102.929 103.405 102.740 Services ............................................................................................ 104.641 105.068 105.403 105.477 105.953 106.047 105.697 105.837 105.761 105.783 Gross private domestic investment................................................... 98.176 99.539 99.736 97.753 95.887 93.292 91.643 85.519 71.746 67.760 Fixed investment ............................................................................... 99.838 100.726 100.626 99.564 97.969 97.291 95.199 89.964 79.514 76.687 Nonresidential ............................................................................... 110.561 113.579 116.219 118.109 118.674 119.083 117.210 111.040 98.061 95.791 Structures.................................................................................. 116.327 122.437 129.869 133.348 135.559 140.215 140.191 137.603 119.243 116.495 Equipment and software ........................................................... 108.285 110.007 110.615 111.829 111.685 110.258 107.577 99.808 89.143 87.076 Residential .................................................................................... 81.521 78.764 73.932 67.745 62.355 59.738 57.208 53.549 47.478 43.541 Change in private inventories............................................................ ................... ................... ................... ................... ................... ................... ................... ................... ................... .................. Exports of goods and services.......................................................... 113.856 115.302 120.293 124.436 124.395 127.997 126.828 120.149 109.922 107.954 Imports of goods and services .......................................................... 108.041 107.907 108.904 107.901 107.225 105.853 105.259 100.547 89.804 86.210 Government consumption expenditures and gross investment .... 101.671 102.764 103.757 104.169 104.845 105.782 107.036 107.346 106.639 108.110 Federal .............................................................................................. 100.738 102.558 104.871 105.570 107.654 109.698 113.152 114.946 113.693 116.672 State and local .................................................................................. 102.203 102.875 103.110 103.356 103.234 103.549 103.576 103.061 102.660 103.281 Addenda: Final sales of domestic product......................................................... 103.956 104.696 105.576 106.297 106.157 106.872 106.084 104.806 103.713 103.662 Gross domestic purchases................................................................ 103.322 103.941 104.480 104.439 104.156 103.925 103.276 101.818 99.566 98.984 Final sales to domestic purchasers................................................... 103.608 104.147 104.641 104.754 104.521 104.598 103.883 102.583 100.913 100.529 Gross national product ...................................................................... 103.337 104.243 105.622 106.500 106.202 106.267 105.773 103.965 102.219 .................. See “Explanatory Note” at the end of the tables. Table 6. Price Indexes for Gross Domestic Product [Index numbers, 2005=100] Seasonally adjusted 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I II 2005 III IV I II Gross domestic product ................................................. 85.507 86.766 88.648 90.654 92.113 94.099 96.769 100.000 103.263 106.221 108.481 95.624 96.441 97.146 97.864 98.774 99.445 Personal consumption expenditures (PCE).................................. 86.207 87.596 89.777 91.488 92.736 94.622 97.098 100.000 102.746 105.502 109.031 96.068 96.779 97.376 98.167 98.754 99.374 Goods............................................................................................ 95.106 95.603 97.520 97.429 96.430 96.380 97.867 100.000 101.508 102.789 106.150 97.110 97.654 97.751 98.953 98.847 99.103 Durable goods ........................................................................... 116.909 113.741 111.693 109.479 106.672 102.907 101.005 100.000 98.488 96.714 95.537 101.419 101.344 100.598 100.657 100.548 100.385 Nondurable goods ..................................................................... 84.160 86.259 90.006 90.952 90.878 92.791 96.120 100.000 103.215 106.250 112.188 94.724 95.601 96.160 97.994 97.886 98.375 Services ........................................................................................ 81.695 83.515 85.824 88.428 90.807 93.692 96.687 100.000 103.411 106.964 110.582 95.513 96.314 97.175 97.748 98.704 99.520 Gross private domestic investment............................................... 89.109 88.989 89.954 90.748 91.118 92.411 95.632 100.000 104.371 106.677 107.355 94.059 95.181 96.194 97.092 98.208 99.258 Fixed investment............................................................................ 88.756 88.700 89.751 90.553 90.924 92.301 95.541 100.000 104.419 106.718 107.551 93.957 95.088 96.113 97.006 98.146 99.237 Nonresidential ........................................................................... 97.587 96.173 96.219 95.788 95.363 95.355 96.834 100.000 103.534 106.209 107.897 95.927 96.603 97.111 97.696 98.780 99.572 Structures.............................................................................. 67.480 69.559 72.298 76.087 79.292 82.174 88.441 100.000 112.922 121.275 125.207 85.083 87.025 89.449 92.209 95.042 97.673 Equipment and software........................................................ 110.641 107.406 106.114 103.603 101.494 100.287 99.897 100.000 100.194 100.715 101.455 99.926 100.106 99.887 99.669 100.114 100.234 Residential................................................................................. 71.412 74.151 77.415 80.994 83.002 86.953 93.296 100.000 106.081 107.513 105.779 90.544 92.463 94.377 95.802 97.026 98.640 Change in private inventories ........................................................ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ Exports of goods and services ...................................................... 90.972 90.408 91.999 91.627 91.253 93.216 96.517 100.000 103.447 107.103 112.389 95.130 96.300 96.781 97.857 98.929 99.627 Imports of goods and services ...................................................... 85.748 86.250 89.963 87.762 86.784 89.796 94.144 100.000 104.144 108.017 119.559 92.123 93.415 94.385 96.654 97.470 98.831 Government consumption expenditures and gross investment 76.879 79.337 82.513 84.764 87.003 90.650 94.531 100.000 104.842 109.552 114.502 92.767 93.889 95.041 96.425 98.167 99.248 Federal .......................................................................................... 77.931 79.886 82.524 84.201 87.318 91.024 95.335 100.000 104.107 107.754 110.938 93.996 95.180 95.755 96.408 99.173 99.680 State and local............................................................................... 76.320 79.036 82.482 85.019 86.810 90.425 94.062 100.000 105.276 110.615 116.642 92.053 93.139 94.624 96.432 97.578 98.993 Addenda: PCE excluding food and energy 1.................................................. 88.242 89.555 91.111 92.739 94.345 95.784 97.788 100.000 102.292 104.699 107.207 96.957 97.592 98.078 98.527 99.229 99.768 Market-based PCE 2 ..................................................................... 87.074 88.306 90.421 92.139 93.157 94.983 97.246 100.000 102.762 105.334 108.954 96.321 96.941 97.439 98.285 98.773 99.329 Market-based PCE excluding food and energy 2 ........................... 89.611 90.722 92.092 93.715 95.110 96.403 98.078 100.000 102.234 104.368 106.811 97.403 97.918 98.268 98.724 99.330 99.779 Final sales of domestic product..................................................... 85.443 86.720 88.623 90.631 92.089 94.089 96.759 100.000 103.266 106.226 108.507 95.614 96.431 97.137 97.854 98.766 99.442 Gross domestic purchases............................................................ 84.962 86.304 88.463 90.123 91.422 93.550 96.400 100.000 103.380 106.408 109.765 95.151 96.002 96.766 97.681 98.561 99.333 Final sales to domestic purchasers ............................................... 84.896 86.257 88.436 90.098 91.396 93.537 96.389 100.000 103.384 106.412 109.792 95.140 95.991 96.756 97.671 98.552 99.330 Gross national product .................................................................. 85.505 86.764 88.646 90.652 92.108 94.095 96.765 100.000 103.265 106.223 108.484 95.621 96.438 97.142 97.861 98.771 99.442 Implicit price deflators: Gross domestic product ............................................................ 85.511 86.768 88.647 90.650 92.118 94.100 96.770 100.000 103.257 106.214 108.483 95.626 96.435 97.131 97.862 98.766 99.438 Final sales of domestic product................................................. 85.443 86.720 88.623 90.631 92.089 94.089 96.759 100.000 103.266 106.226 108.507 95.608 96.425 97.130 97.847 98.758 99.434 Gross domestic purchases........................................................ 84.966 86.307 88.461 90.119 91.426 93.550 96.402 100.000 103.375 106.400 109.767 95.151 95.993 96.748 97.675 98.550 99.324 Final sales to domestic purchasers ........................................... 84.896 86.257 88.436 90.098 91.396 93.537 96.389 100.000 103.384 106.412 109.792 95.131 95.981 96.746 97.660 98.542 99.321 Gross national product .............................................................. 85.509 86.766 88.645 90.648 92.113 94.096 96.767 100.000 103.260 106.215 108.486 95.623 96.433 97.128 97.860 98.764 99.437 Seasonally adjusted 2005 Gross domestic product ................................................. Personal consumption expenditures (PCE).................................. Goods............................................................................................ Durable goods ........................................................................... Nondurable goods ..................................................................... Services ........................................................................................ Gross private domestic investment............................................... Fixed investment............................................................................ Nonresidential ........................................................................... Structures.............................................................................. Equipment and software........................................................ Residential................................................................................. Change in private inventories ........................................................ Exports of goods and services ...................................................... Imports of goods and services ...................................................... Government consumption expenditures and gross investment Federal .......................................................................................... State and local............................................................................... Addenda: PCE excluding food and energy 1.................................................. Market-based PCE 2 ..................................................................... Market-based PCE excluding food and energy 2 ........................... Final sales of domestic product..................................................... Gross domestic purchases............................................................ Final sales to domestic purchasers ............................................... Gross national product .................................................................. Implicit price deflators: Gross domestic product ............................................................ Final sales of domestic product................................................. Gross domestic purchases........................................................ Final sales to domestic purchasers ........................................... Gross national product .............................................................. 2006 2007 2008 2009 III IV I II III IV I II III IV I II III IV I II 100.470 100.495 100.846 99.623 101.542 100.306 100.570 100.605 100.248 101.447 99.812 101.224 ............. 100.342 100.863 100.686 100.420 100.842 101.312 101.377 101.203 99.444 102.197 101.470 101.964 102.012 101.401 105.838 99.840 103.110 ............. 101.102 102.836 101.898 100.728 102.588 102.071 101.803 101.116 99.141 102.229 102.171 103.139 103.195 102.279 108.823 99.977 104.890 ............. 101.828 103.243 103.232 103.101 103.307 102.980 102.567 101.765 98.742 103.472 102.998 104.026 104.089 103.112 111.791 100.042 105.940 ............. 103.125 104.322 104.644 104.187 104.916 103.763 103.316 102.329 98.281 104.621 103.844 104.666 104.713 103.878 113.962 100.285 106.295 ............. 104.395 105.121 105.437 104.502 105.990 104.237 103.298 100.822 97.789 102.539 104.630 105.653 105.677 104.868 117.111 100.472 107.199 ............. 104.438 103.889 106.055 104.637 106.892 105.327 104.250 101.612 97.395 104.010 105.668 106.375 106.380 105.686 119.716 100.611 107.604 ............. 105.355 104.711 107.888 106.808 108.527 106.026 105.074 102.548 97.052 105.678 106.433 106.547 106.591 106.104 120.794 100.766 107.307 ............. 106.516 106.332 109.129 107.737 109.949 106.460 105.681 102.627 96.375 106.187 107.327 106.761 106.803 106.354 121.786 100.712 107.455 ............. 107.396 107.937 109.854 107.896 111.009 107.072 107.005 104.370 96.034 109.126 108.427 107.024 107.096 106.693 122.804 100.769 107.686 ............. 109.144 113.088 111.336 108.577 112.975 107.577 107.974 105.689 96.037 111.185 109.213 106.586 106.909 106.617 122.976 100.590 107.271 ............. 111.156 117.234 113.038 110.077 114.803 108.061 109.021 106.678 95.832 112.838 110.296 106.745 107.210 107.161 123.800 101.019 106.838 ............. 113.890 123.069 114.772 111.265 116.877 109.130 110.273 108.451 95.537 115.759 111.275 107.350 107.866 108.314 125.814 101.797 105.807 ............. 115.638 125.203 115.963 111.784 118.493 109.155 108.855 103.784 94.743 108.971 111.542 108.738 108.217 109.498 128.238 102.415 103.198 ............. 108.871 112.730 114.233 110.628 116.396 109.661 108.449 102.186 94.326 106.739 111.749 108.245 107.668 109.154 127.092 102.450 101.915 ............. 105.265 103.746 113.924 111.084 115.587 109.726 108.804 102.853 94.399 107.723 111.943 107.566 106.987 108.121 124.100 102.325 102.539 ............. 105.368 104.845 114.093 111.256 115.755 100.172 100.505 100.131 100.475 100.541 100.546 100.471 100.831 101.393 100.760 101.318 101.565 101.571 101.316 101.325 101.845 101.295 102.075 102.275 102.280 102.075 102.057 102.612 102.024 102.985 103.173 103.179 102.983 102.630 103.387 102.599 103.767 103.910 103.914 103.766 103.154 103.202 103.018 104.237 104.162 104.161 104.237 103.862 104.131 103.659 105.325 105.229 105.228 105.329 104.318 104.977 104.078 106.032 106.024 106.030 106.028 104.904 105.448 104.502 106.465 106.592 106.598 106.460 105.714 106.781 105.235 107.080 107.786 107.795 107.075 106.333 107.843 105.904 107.623 108.678 108.723 107.581 106.976 108.912 106.504 108.127 109.722 109.785 108.067 107.652 110.280 107.219 109.202 110.871 110.940 109.138 107.866 108.781 107.616 109.078 109.790 109.718 109.149 108.173 108.452 108.133 109.566 109.395 109.311 109.647 108.702 108.860 108.754 109.623 109.596 109.502 ............. 100.461 100.469 100.531 100.538 100.463 101.309 101.312 101.562 101.565 101.314 102.071 102.071 102.275 102.276 102.076 102.973 102.982 103.167 103.177 102.976 103.756 103.764 103.904 103.913 103.760 104.218 104.233 104.145 104.159 104.217 105.310 105.319 105.215 105.224 105.311 106.008 106.026 106.008 106.025 106.007 106.447 106.460 106.581 106.594 106.444 107.069 107.077 107.783 107.792 107.070 107.534 107.622 108.637 108.723 107.538 108.069 108.129 109.729 109.787 108.076 109.172 109.206 110.910 110.942 109.181 109.172 109.083 109.805 109.721 109.167 109.691 109.571 109.422 109.314 109.678 109.753 109.628 109.619 109.505 ............. 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. Percent changes for these series are included in the addenda to table 8 and appendix table A. See “Explanatory Note” at the end of the tables. Table 7. Real Gross Domestic Product: Percent Change From Preceding Year—Continues 1960 Gross domestic product (GDP) ......................................... Personal consumption expenditures ............................................ Goods............................................................................................ Durable goods........................................................................... Nondurable goods..................................................................... Services ........................................................................................ Gross private domestic investment............................................... Fixed investment ........................................................................... Nonresidential ........................................................................... Structures.............................................................................. Equipment and software ....................................................... 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 national product .................................................................. Real disposable personal income ................................................. Price indexes: Gross domestic purchases........................................................ Gross domestic purchases excluding food and energy 1 .......... GDP .......................................................................................... GDP excluding food and energy 1 ............................................. Personal consumption expenditures ......................................... 1961 2.6 1.8 1.9 2.5 2.6 1963 1964 1965 1966 1967 1968 1969 2.4 2.3 2.4 2.4 3.4 5.5 6.3 5.8 6.1 4.9 4.5 4.2 4.3 4.4 3.8 6.0 5.5 5.6 5.8 7.2 5.8 6.8 6.2 6.4 6.2 6.0 6.9 6.4 6.4 5.3 3.1 2.8 3.3 2.5 4.4 5.0 5.2 5.3 4.9 4.5 3.1 3.1 3.2 3.1 3.2 1.4 1.1 1.3 1.2 1.6 1.7 2.8 2.9 4.2 4.9 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 1.4 1.1 1.4 1.1 1.6 1.8 2.8 3.1 4.3 4.9 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 1.6 1.0 1.2 1.2 1.5 1.4 2.5 2.5 3.9 4.5 1970 Gross domestic product (GDP) ......................................... Personal consumption expenditures ............................................ Goods............................................................................................ Durable goods........................................................................... Nondurable goods..................................................................... Services ........................................................................................ Gross private domestic investment............................................... Fixed investment ........................................................................... Nonresidential ........................................................................... Structures.............................................................................. Equipment and software ....................................................... 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 national product .................................................................. Real disposable personal income ................................................. Price indexes: Gross domestic purchases........................................................ Gross domestic purchases excluding food and energy 1 .......... GDP .......................................................................................... GDP excluding food and energy 1 ............................................. Personal consumption expenditures ......................................... 1962 2.5 2.3 6.1 4.4 5.8 6.4 6.5 2.5 4.8 3.1 2.7 2.1 4.9 4.1 6.0 6.3 5.7 3.0 5.8 3.7 1.8 0.6 5.1 4.0 6.0 7.1 6.3 2.0 6.2 3.1 2.0 –3.4 11.4 9.2 9.3 12.4 8.3 1.5 11.1 3.7 1.7 2.0 3.1 2.2 4.7 5.0 5.6 2.1 4.2 2.8 3.9 3.7 4.7 4.2 6.0 5.5 5.0 4.1 5.3 4.5 0.0 –0.7 12.7 6.7 8.2 14.0 8.8 –4.6 5.8 5.8 0.9 –0.3 9.0 7.7 9.7 10.2 5.7 –1.8 7.0 6.2 5.7 –0.6 8.7 5.6 11.9 17.4 12.5 –1.3 4.5 7.6 8.0 1.4 4.6 1.2 10.4 15.9 6.8 –2.5 1.4 5.4 4.2 –1.9 11.6 8.4 12.8 18.3 16.0 –0.7 6.2 8.8 –7.1 0.3 9.6 11.8 5.8 –2.9 –8.9 –3.1 13.6 3.0 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 17.4 0.5 5.0 7.2 11.8 2.8 6.9 2.3 7.9 4.8 23.4 0.5 4.4 7.9 13.7 0.5 6.9 0.5 7.9 5.2 1.6 0.6 6.9 5.1 6.0 10.2 6.9 7.9 7.7 3.7 1.3 –0.7 11.4 2.7 5.3 10.6 14.9 7.3 14.9 5.7 –1.7 –0.1 14.8 4.0 6.6 14.1 15.8 5.3 20.6 5.5 7.8 –1.7 4.7 –0.1 2.6 2.9 12.7 12.2 1.8 6.3 0.2 5.0 6.2 2.6 2.2 3.0 8.8 7.7 3.1 –0.2 –2.7 4.2 8.5 0.1 –1.3 0.0 11.1 10.0 0.8 –3.4 –1.6 4.4 6.0 –2.4 –4.0 –2.1 14.3 13.1 1.6 –4.9 –7.9 3.0 20.7 10.7 8.7 6.8 1.0 –0.9 –2.4 2.7 4.4 6.2 3.1 6.0 6.8 6.7 6.3 5.1 5.9 3.4 1971 1972 1973 1974 1975 1976 1977 1978 1979 0.2 3.4 5.3 5.8 –0.6 –0.2 5.4 4.6 5.6 3.1 2.3 3.8 6.2 5.0 –0.8 2.3 5.6 4.2 4.4 2.4 0.8 4.2 6.5 5.2 –3.6 0.7 7.0 4.3 4.1 1.6 –2.6 10.0 12.4 10.5 –6.4 0.2 12.5 8.8 5.2 –0.5 2.2 1.9 4.0 2.9 –2.4 0.9 4.8 2.3 3.6 2.6 3.9 3.5 5.8 4.7 1.9 3.8 4.3 4.1 4.7 3.1 –6.6 11.4 11.8 11.7 –7.4 –17.7 20.2 15.1 12.1 3.2 –2.1 7.6 12.0 9.1 –6.3 –10.7 9.9 14.4 12.1 5.6 –0.5 0.0 9.2 14.6 0.8 –9.9 4.9 11.3 15.0 10.1 0.3 –1.6 3.1 8.2 –2.2 –10.5 2.4 4.1 14.4 12.7 –1.0 1.0 12.9 18.3 2.6 –9.5 6.3 15.1 15.2 8.7 –6.0 27.4 17.8 –0.6 –20.6 –13.0 23.5 21.5 6.3 –3.7 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 10.7 1.7 7.5 18.9 7.9 –0.6 4.4 2.4 10.5 9.9 11.4 –0.4 10.8 23.0 7.9 –2.3 4.7 1.3 11.2 11.8 8.9 7.7 –0.6 7.1 7.8 6.1 3.0 6.5 8.4 3.1 4.3 5.3 11.3 4.6 –2.3 –11.1 19.6 10.9 8.7 1.7 3.9 8.4 13.6 7.1 –2.8 –12.6 22.6 12.2 9.0 1.7 5.2 –2.8 4.2 –3.4 –0.1 –4.3 6.9 5.0 7.1 1.4 –2.4 –2.2 –0.7 –0.4 2.5 2.3 0.4 1.1 2.9 1.9 –7.4 –7.7 –4.1 –4.2 0.9 0.3 0.0 2.1 2.5 2.4 –9.1 –11.3 –7.8 –5.5 –0.8 –0.9 –0.3 1.2 0.9 3.0 –1.1 4.7 7.1 –0.6 5.2 3.4 1.0 4.3 6.2 1.1 2.8 3.1 2.2 2.9 3.8 3.7 0.7 0.4 3.3 1.5 0.9 –0.2 0.6 0.2 4.3 2.8 3.6 3.0 3.4 4.5 5.3 5.5 5.5 5.3 4.8 5.3 5.0 4.5 6.0 6.8 –0.3 –1.3 –1.0 –0.4 –0.8 1.1 –1.1 0.2 –0.5 2.2 3.9 6.5 5.1 5.5 4.0 4.4 5.3 5.1 4.7 3.4 5.5 5.5 5.4 5.5 4.7 3.6 2.4 2.9 3.4 2.3 5.4 5.1 4.4 5.8 10.3 9.3 5.7 6.8 7.1 8.8 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 5.3 5.0 4.3 5.5 9.0 9.5 5.7 6.4 7.0 8.3 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 4.7 4.2 3.4 5.4 10.4 8.4 5.5 6.5 7.0 8.9 1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. Table 7. Real Gross Domestic Product: Percent Change From Preceding Year—Continues 1980 Gross domestic product (GDP) ......................................... Personal consumption expenditures ............................................ Goods............................................................................................ Durable goods........................................................................... Nondurable goods..................................................................... Services ........................................................................................ Gross private domestic investment............................................... Fixed investment ........................................................................... Nonresidential ........................................................................... Structures.............................................................................. Equipment and software ....................................................... 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 national product .................................................................. Real disposable personal income ................................................. Price indexes: Gross domestic purchases........................................................ Gross domestic purchases excluding food and energy 1 .......... GDP .......................................................................................... GDP excluding food and energy 1 ............................................. Personal consumption expenditures ......................................... 1981 1982 1983 1984 1985 1986 1987 1988 1989 –0.3 2.5 –1.9 4.5 7.2 4.1 3.5 3.2 4.1 3.6 –0.4 1.5 1.4 5.7 5.3 5.2 4.1 3.1 4.0 2.8 –2.5 1.2 0.7 6.4 7.2 5.3 5.6 1.8 3.7 2.5 –8.0 1.0 –0.2 14.3 14.3 10.0 9.6 2.0 5.7 2.2 –0.2 1.3 1.0 3.3 4.1 3.0 3.6 1.7 2.6 2.7 1.5 1.8 1.9 5.2 3.9 5.2 3.0 4.0 4.2 3.0 –11.0 9.0 –14.0 9.3 29.5 –0.9 –0.7 3.1 2.4 4.0 –6.5 2.2 –7.0 7.3 16.9 5.3 1.2 0.5 3.3 3.0 –0.3 5.7 –3.8 –1.3 17.6 6.6 –2.9 –0.1 5.2 5.6 5.9 8.0 –1.6 –10.8 13.9 7.1 –11.0 –2.9 0.7 2.0 –3.6 4.3 –5.2 5.4 19.8 6.4 1.9 1.4 7.5 7.3 –21.2 –8.0 –18.2 41.4 14.8 1.6 12.3 2.0 –1.0 –3.0 .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... 10.8 1.2 –7.6 –2.6 8.2 3.0 7.7 10.8 16.0 11.5 11.9 –1.1 –9.0 –2.9 7.9 3.7 5.1 11.1 18.8 11.9 6.2 10.7 –2.8 –1.7 8.9 1.2 14.5 10.0 9.0 10.3 –6.6 2.6 –1.3 12.6 24.3 6.5 8.5 5.9 3.9 4.4 –7.4 2.1 –2.5 13.6 24.2 6.3 10.2 4.6 4.0 4.3 –2.2 5.8 5.3 8.1 25.1 7.6 1.1 11.8 3.4 4.8 1.9 0.9 1.8 3.7 3.4 7.0 6.1 2.4 1.3 2.7 4.7 4.8 3.9 6.6 3.1 7.8 5.7 3.6 –1.6 1.6 4.4 6.3 7.6 7.2 4.9 8.5 6.4 4.7 –0.5 –0.5 5.6 1.3 –4.8 5.2 –1.9 5.9 3.4 –0.1 –5.3 8.3 –0.1 –2.0 0.0 1.2 3.6 6.2 6.4 1.4 3.7 3.7 0.6 –1.9 –1.0 –0.3 1.0 5.3 4.4 5.6 3.8 3.1 3.8 3.7 4.0 3.2 3.3 2.8 2.9 2.5 3.2 1.6 4.3 3.2 3.3 4.2 4.3 3.4 3.0 2.8 3.6 2.7 10.5 9.2 5.7 3.5 3.5 2.8 .................... ................... ................... 3.9 3.7 3.1 9.1 9.4 6.1 3.9 3.8 3.0 .................... ................... ................... .................... ................... ................... 10.7 8.9 5.5 4.3 3.8 3.3 2.3 3.1 2.2 2.4 2.4 3.1 3.2 2.8 2.9 3.6 3.4 3.7 3.4 3.4 4.0 3.8 3.6 3.8 3.7 4.3 1990 1.4 2.7 1.5 2.4 2.7 1991 –0.6 –1.3 0.0 –1.9 2.2 1992 4.2 5.8 5.5 4.4 3.3 1993 5.2 8.7 6.7 7.1 7.2 1994 1995 1996 1997 1998 1999 Gross domestic product (GDP) ......................................... 1.9 –0.2 3.4 2.9 4.1 2.5 3.7 4.5 4.4 4.8 Personal consumption expenditures ............................................ 2.0 0.1 3.4 3.6 3.8 2.7 3.5 3.7 5.2 5.5 Goods............................................................................................ 0.6 –2.0 3.2 4.2 5.3 3.0 4.5 4.8 6.8 8.0 Durable goods........................................................................... –0.4 –5.4 5.7 7.5 8.0 3.9 7.5 8.2 12.2 13.0 Nondurable goods..................................................................... 1.2 –0.3 1.9 2.5 3.9 2.5 2.9 2.9 3.8 5.1 Services ........................................................................................ 3.0 1.5 3.6 3.2 3.0 2.5 2.9 3.1 4.4 4.1 Gross private domestic investment............................................... –3.4 –8.1 8.1 8.9 13.6 3.1 8.8 12.4 10.0 8.8 Fixed investment ........................................................................... –2.1 –6.5 5.9 8.6 9.4 6.4 9.0 9.2 10.9 9.3 Nonresidential ........................................................................... 0.5 –5.4 3.2 8.7 9.2 10.5 9.3 12.1 12.0 10.4 Structures.............................................................................. 1.5 –11.1 –6.0 –0.6 1.8 6.4 5.7 7.3 5.1 0.1 Equipment and software ....................................................... 0.0 –2.6 7.3 12.5 11.9 12.0 10.6 13.8 14.5 14.1 Residential ................................................................................ –8.6 –9.6 13.8 8.2 9.7 –3.3 8.0 1.9 7.7 6.3 Change in private inventories........................................................ .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... Net exports of goods and services ............................................... .................... ................... ................... .................... ................... ................... .................... ................... ................... ................... Exports.......................................................................................... 9.0 6.6 6.9 3.3 8.7 10.1 8.3 11.9 2.3 4.4 Goods........................................................................................ 8.4 6.9 7.5 3.3 9.7 11.7 8.8 14.4 2.2 3.8 Services .................................................................................... 10.5 6.0 5.4 3.3 6.4 6.3 7.0 5.9 2.4 5.7 Imports .......................................................................................... 3.6 –0.1 7.0 8.6 11.9 8.0 8.7 13.5 11.7 11.5 Goods........................................................................................ 2.9 0.5 9.4 10.0 13.4 9.0 9.4 14.4 11.8 12.5 Services .................................................................................... 6.5 –2.6 –2.7 2.7 5.3 3.0 5.2 8.7 10.9 6.8 Government consumption expenditures and gross investment 3.2 1.1 0.5 –0.8 0.0 0.6 1.0 1.9 2.1 3.6 Federal .......................................................................................... 2.0 –0.2 –1.8 –3.9 –3.8 –2.7 –1.2 –1.0 –1.1 1.9 National defense ....................................................................... 0.0 –1.1 –5.0 –5.3 –4.9 –3.7 –1.3 –2.8 –2.1 1.9 Nondefense............................................................................... 8.2 2.3 6.6 –0.7 –1.4 –0.4 –0.8 2.7 0.8 2.1 State and local .............................................................................. 4.1 2.1 2.2 1.5 2.6 2.7 2.3 3.6 3.9 4.5 Addenda: Final sales of domestic product..................................................... 2.1 0.0 3.1 2.8 3.5 3.0 3.7 3.9 4.4 4.9 Gross domestic purchases............................................................ 1.4 –0.9 3.4 3.4 4.5 2.4 3.8 4.7 5.5 5.7 Final sales to domestic purchasers............................................... 1.6 –0.6 3.1 3.3 3.8 2.8 3.8 4.2 5.6 5.8 Gross national product .................................................................. 2.0 –0.3 3.4 2.8 3.9 2.6 3.7 4.3 4.3 4.9 Real disposable personal income ................................................. 1.9 0.8 3.5 1.7 3.2 3.0 3.3 3.5 6.0 3.0 Price indexes: Gross domestic purchases........................................................ 4.1 3.3 2.4 2.1 2.1 2.1 1.8 1.5 0.7 1.6 Gross domestic purchases excluding food and energy 1 .......... 3.8 3.4 2.6 2.2 2.2 2.2 1.6 1.5 1.0 1.5 GDP .......................................................................................... 3.9 3.5 2.4 2.2 2.1 2.1 1.9 1.8 1.1 1.5 1 ............................................. 3.8 3.5 2.5 2.2 2.1 2.1 1.8 1.8 1.2 1.6 GDP excluding food and energy Personal consumption expenditures ......................................... 4.6 3.6 2.9 2.2 2.1 2.2 2.2 1.9 1.0 1.6 1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. Table 7. Real Gross Domestic Product: Percent Change From Preceding Year—Table Ends 2000 2001 2002 2003 2004 2005 2006 2007 2008 Gross domestic product (GDP) ......................................... 4.1 1.1 1.8 2.5 3.6 3.1 2.7 2.1 0.4 Personal consumption expenditures ............................................ 5.1 2.7 2.7 2.8 3.5 3.4 2.9 2.6 –0.2 Goods............................................................................................ 5.3 3.1 4.1 4.6 4.4 4.0 3.3 3.1 –2.1 Durable goods........................................................................... 8.8 5.4 7.6 6.0 6.6 5.2 4.1 4.3 –4.5 Nondurable goods..................................................................... 3.2 1.8 2.0 3.7 3.2 3.4 2.8 2.5 –0.8 Services ........................................................................................ 5.0 2.5 1.9 1.9 2.9 3.0 2.7 2.4 0.7 Gross private domestic investment............................................... 6.8 –7.0 –1.4 3.6 10.0 5.5 2.7 –3.8 –7.3 Fixed investment ........................................................................... 7.4 –1.9 –4.2 3.2 7.3 6.5 2.3 –2.1 –5.1 Nonresidential ........................................................................... 9.8 –2.8 –7.9 0.9 6.0 6.7 7.9 6.2 1.6 Structures.............................................................................. 7.8 –1.5 –17.7 –3.8 1.1 1.4 9.2 14.9 10.3 Equipment and software ....................................................... 10.5 –3.2 –4.2 2.5 7.7 8.5 7.4 2.6 –2.6 Residential ................................................................................ 1.0 0.6 5.2 8.2 9.8 6.2 –7.3 –18.5 –22.9 Change in private inventories........................................................ ...................... ...................... ...................... ..................... ..................... ...................... ...................... ...................... ..................... Net exports of goods and services ............................................... ...................... ...................... ...................... ..................... ..................... ...................... ...................... ...................... ..................... Exports.......................................................................................... 8.6 –5.6 –2.0 1.6 9.5 6.7 9.0 8.7 5.4 Goods........................................................................................ 11.1 –6.2 –3.6 1.8 8.5 7.5 9.4 7.4 5.9 Services .................................................................................... 2.7 –4.1 1.9 1.2 11.9 5.0 7.9 11.8 4.2 Imports .......................................................................................... 13.0 –2.8 3.4 4.4 11.0 6.1 6.1 2.0 –3.2 Goods........................................................................................ 13.4 –3.2 3.7 4.9 11.0 6.8 5.9 1.7 –3.9 Services .................................................................................... 11.0 –0.8 1.8 1.9 11.2 2.8 7.1 3.5 0.7 Government consumption expenditures and gross investment 2.0 3.8 4.7 2.2 1.4 0.3 1.4 1.7 3.1 Federal .......................................................................................... 0.5 4.1 7.3 6.6 4.1 1.3 2.1 1.3 7.7 National defense ....................................................................... –0.5 3.8 7.4 8.7 5.7 1.5 1.6 2.2 7.8 Nondefense............................................................................... 2.4 4.6 7.2 2.8 1.0 0.9 3.2 –0.6 7.3 State and local .............................................................................. 2.8 3.7 3.3 –0.1 –0.2 –0.2 0.9 2.0 0.5 Addenda: Final sales of domestic product..................................................... 4.2 2.0 1.3 2.4 3.2 3.2 2.6 2.5 0.8 Gross domestic purchases............................................................ 4.8 1.2 2.4 2.8 4.0 3.2 2.6 1.4 –0.7 Final sales to domestic purchasers............................................... 4.9 2.1 1.9 2.8 3.6 3.3 2.5 1.7 –0.4 Gross national product .................................................................. 4.2 1.2 1.8 2.6 3.7 3.1 2.4 2.4 0.6 Real disposable personal income ................................................. 5.1 2.4 3.3 2.5 3.4 1.3 4.0 2.2 0.5 Price indexes: Gross domestic purchases........................................................ 2.5 1.9 1.4 2.3 3.0 3.7 3.4 2.9 3.2 Gross domestic purchases excluding food and energy 1 .......... 2.0 1.8 1.7 2.0 2.7 3.3 3.2 2.7 2.6 GDP .......................................................................................... 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.1 GDP excluding food and energy 1 ............................................. 2.2 2.0 1.8 2.1 2.8 3.5 3.3 2.8 2.3 Personal consumption expenditures ......................................... 2.5 1.9 1.4 2.0 2.6 3.0 2.7 2.7 3.3 1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. Table 7A. Gross Domestic Product: Levels, Percent Change From Preceding Year, and Revision to Percent Change Billions of dollars Year Gross domestic product Personal Gross Exports conprivate of goods sumption domestic and expendi- investment services tures Percent change from preceding year Imports of goods and services Personal Gross Exports Gross conGovernprivate of goods domestic sumption 1 ment domestic and product expendi- investment services tures Revision to percent change from preceding year Imports of goods and services Government 1 2 Personal Gross Exports Imports Gross conprivate of goods of goods Governdomestic sumption domestic and and ment 1 product expendi- investment services services tures 1959 ............. 506.6 317.7 78.5 22.7 22.3 110.0 8.4 7.3 21.8 10.5 11.5 3.8 0.0 0.1 0.0 0.0 0.0 0.0 1960 ............. 1961 ............. 1962 ............. 1963 ............. 1964 ............. 526.4 544.8 585.7 617.8 663.6 331.8 342.2 363.3 382.7 411.5 78.9 78.2 88.1 93.8 102.1 27.0 27.6 29.1 31.1 35.0 22.8 22.7 25.0 26.1 28.1 111.5 119.5 130.1 136.4 143.2 3.9 3.5 7.5 5.5 7.4 4.4 3.1 6.2 5.3 7.5 0.5 –0.9 12.8 6.4 8.9 19.0 2.1 5.3 6.9 12.7 2.3 –0.7 10.0 4.7 7.5 1.4 7.1 8.9 4.8 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1965 ............. 1966 ............. 1967 ............. 1968 ............. 1969 ............. 719.1 787.7 832.4 909.8 984.4 443.8 480.9 507.8 558.0 605.1 118.2 131.3 128.6 141.2 156.4 37.1 40.9 43.5 47.9 51.9 31.5 37.1 39.9 46.6 50.5 151.4 171.6 192.5 209.3 221.4 8.4 9.5 5.7 9.3 8.2 7.9 8.4 5.6 9.9 8.4 15.9 11.0 –2.1 9.8 10.8 6.1 10.2 6.2 10.2 8.4 12.2 17.5 7.7 16.6 8.5 5.7 13.3 12.2 8.7 5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 –0.1 0.0 0.0 0.0 1970 ............. 1971 ............. 1972 ............. 1973 ............. 1974 ............. 1,038.3 1,126.8 1,237.9 1,382.3 1,499.5 648.3 701.6 770.2 852.0 932.9 152.4 178.2 207.6 244.5 249.4 59.7 63.0 70.8 95.3 126.7 55.8 62.3 74.2 91.2 127.5 233.7 246.4 263.4 281.7 317.9 5.5 8.5 9.9 11.7 8.5 7.1 8.2 9.8 10.6 9.5 –2.6 16.9 16.5 17.8 2.0 15.0 5.4 12.5 34.5 32.9 10.4 11.8 19.0 22.8 39.8 5.5 5.4 6.9 6.9 12.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1975 ............. 1976 ............. 1977 ............. 1978 ............. 1979 ............. 1,637.7 1,824.6 2,030.1 2,293.8 2,562.2 1,033.8 1,151.3 1,277.8 1,427.6 1,591.2 230.2 292.0 361.3 438.0 492.9 138.7 149.5 159.4 186.9 230.1 122.7 151.1 182.4 212.3 252.7 357.7 383.0 414.1 453.6 500.7 9.2 11.4 11.3 13.0 11.7 10.8 11.4 11.0 11.7 11.5 –7.7 26.8 23.8 21.2 12.5 9.5 7.8 6.6 17.3 23.1 –3.7 23.2 20.7 16.3 19.0 12.5 7.1 8.1 9.5 10.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1980 ............. 1981 ............. 1982 ............. 1983 ............. 1984 ............. 2,788.1 3,126.8 3,253.2 3,534.6 3,930.9 1,755.8 1,939.5 2,075.5 2,288.6 2,501.1 479.3 572.4 517.2 564.3 735.6 280.8 305.2 283.2 277.0 302.4 293.8 317.8 303.2 328.6 405.1 566.1 627.5 680.4 733.4 796.9 8.8 12.1 4.0 8.7 11.2 10.3 10.5 7.0 10.3 9.3 –2.8 19.4 –9.6 9.1 30.4 22.0 8.7 –7.2 –2.2 9.2 16.3 8.1 –4.6 8.4 23.3 13.1 10.8 8.4 7.8 8.7 0.0 –0.1 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1985 ............. 1986 ............. 1987 ............. 1988 ............. 1989 ............. 4,217.5 4,460.1 4,736.4 5,100.4 5,482.1 2,717.6 2,896.7 3,097.0 3,350.1 3,594.5 736.2 746.5 785.0 821.6 874.9 302.0 320.3 363.8 443.9 503.1 417.2 452.9 508.7 554.0 591.0 878.9 949.3 999.4 1,038.9 1,100.6 7.3 5.8 6.2 7.7 7.5 8.7 6.6 6.9 8.2 7.3 0.1 1.4 5.1 4.7 6.5 –0.1 6.1 13.6 22.0 13.4 3.0 8.5 12.3 8.9 6.7 10.3 8.0 5.3 4.0 5.9 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 1990 ............. 1991 ............. 1992 ............. 1993 ............. 1994 ............. 5,800.5 5,992.1 6,342.3 6,667.4 7,085.2 3,835.5 3,980.1 4,236.9 4,483.6 4,750.8 861.0 802.9 864.8 953.3 1,097.3 552.1 596.6 635.0 655.6 720.7 629.7 623.5 667.8 720.0 813.4 1,181.7 1,236.1 1,273.5 1,294.8 1,329.8 5.8 3.3 5.8 5.1 6.3 6.7 3.8 6.5 5.8 6.0 –1.6 –6.7 7.7 10.2 15.1 9.7 8.1 6.4 3.2 9.9 6.5 –1.0 7.1 7.8 13.0 7.4 4.6 3.0 1.7 2.7 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1995 ............. 1996 ............. 1997 ............. 1998 ............. 1999 ............. 7,414.7 7,838.5 8,332.4 8,793.5 9,353.5 4,987.3 5,273.6 5,570.6 5,918.5 6,342.8 1,144.0 1,240.2 1,388.7 1,510.8 1,641.5 811.9 867.7 954.4 953.9 989.3 902.6 964.0 1,055.8 1,115.7 1,251.4 1,374.0 1,421.0 1,474.4 1,526.1 1,631.3 4.7 5.7 6.3 5.5 6.4 5.0 5.7 5.6 6.2 7.2 4.3 8.4 12.0 8.8 8.7 12.7 6.9 10.0 –0.1 3.7 11.0 6.8 9.5 5.7 12.2 3.3 3.4 3.8 3.5 6.9 0.1 0.0 0.1 0.2 0.4 0.1 0.1 0.1 0.2 0.3 0.0 0.0 –0.1 0.2 1.0 0.0 0.0 0.0 –0.2 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.1 0.2 2000 ............. 2001 ............. 2002 ............. 2003 ............. 2004 ............. 9,951.5 10,286.2 10,642.3 11,142.1 11,867.8 6,830.4 7,148.8 7,439.2 7,804.0 8,285.1 1,772.2 1,661.9 1,647.0 1,729.7 1,968.6 1,093.2 1,027.7 1,003.0 1,041.0 1,180.2 1,475.3 1,398.7 1,430.2 1,545.1 1,798.9 1,731.0 1,846.4 1,983.3 2,112.6 2,232.8 6.4 3.4 3.5 4.7 6.5 7.7 4.7 4.1 4.9 6.2 8.0 –6.2 –0.9 5.0 13.8 10.5 –6.0 –2.4 3.8 13.4 17.9 –5.2 2.3 8.0 16.4 6.1 6.7 7.4 6.5 5.7 0.5 0.2 0.1 0.0 –0.1 0.4 0.0 –0.1 0.1 –0.2 1.2 0.8 1.1 –0.2 0.3 –0.1 –0.2 0.2 0.3 –0.2 0.0 –0.1 0.1 0.3 –0.3 –0.1 0.7 0.0 –0.2 –0.2 2005 ............. 2006 ............. 2007 ............. 2008 ............. 12,638.4 13,398.9 14,077.6 14,441.4 8,819.0 9,322.7 9,826.4 10,129.9 2,172.2 2,327.2 2,288.5 2,136.1 1,305.1 1,471.0 1,655.9 1,831.1 2,027.8 2,240.3 2,369.7 2,538.9 2,369.9 2,518.4 2,676.5 2,883.2 6.5 6.0 5.1 2.6 6.4 5.7 5.4 3.1 10.3 7.1 –1.7 –6.7 10.6 12.7 12.6 10.6 12.7 10.5 5.8 7.1 6.1 6.3 6.3 7.7 0.2 –0.1 0.3 –0.7 0.3 –0.2 –0.1 –0.5 –0.2 0.7 2.4 –0.3 –0.3 –0.2 0.3 –1.2 0.1 0.0 –0.1 0.4 –0.1 –0.2 –0.3 –0.1 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. Table 7B. Real Gross Domestic Product: Levels, Percent Change From Preceding Year, and Revision to Percent Change Billions of chained (2005) dollars Year Gross domestic product Personal Gross Exports conprivate of goods sumption domestic and expendi- investment services tures Imports of goods and services Revision to percent change from preceding year 2 Percent change from preceding year Government 1 Personal Personal Gross Exports Imports Gross Exports Imports Gross conGross conprivate of goods of goods Governprivate of goods of goods GovernResidual domestic sumption domestic domestic sumption 1 and and ment domestic and and ment 1 product expendi- investment services services product expendi- investment services services tures tures 1959 ............. 2,762.5 1,736.7 296.6 83.9 113.0 869.5 –111.2 7.2 5.7 20.2 10.3 10.5 3.4 0.1 0.1 –0.1 0.0 0.0 0.0 1960 ............. 1961 ............. 1962 ............. 1963 ............. 1964 ............. 2,830.9 2,896.9 3,072.4 3,206.7 3,392.3 1,784.4 1,821.2 1,911.2 1,989.9 2,108.4 296.5 294.6 332.0 354.3 383.5 98.5 99.0 104.0 111.5 124.6 114.5 113.8 126.7 130.1 137.0 871.0 914.8 971.1 996.1 1,018.0 –105.0 –118.9 –119.2 –115.0 –105.2 2.5 2.3 6.1 4.4 5.8 2.7 2.1 4.9 4.1 6.0 0.0 –0.7 12.7 6.7 8.2 17.4 0.5 5.0 7.2 11.8 1.3 –0.7 11.4 2.7 5.3 0.2 5.0 6.2 2.6 2.2 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1965 ............. 1966 ............. 1967 ............. 1968 ............. 1969 ............. 3,610.1 3,845.3 3,942.5 4,133.4 4,261.8 2,241.8 2,369.0 2,440.0 2,580.7 2,677.4 437.3 475.8 454.1 480.5 508.5 128.1 137.0 140.1 151.1 158.4 151.6 174.1 186.8 214.7 226.9 1,048.7 1,141.1 1,228.7 1,267.2 1,264.3 –94.2 –103.5 –133.6 –131.4 –119.9 6.4 6.5 2.5 4.8 3.1 6.3 5.7 3.0 5.8 3.7 14.0 8.8 –4.6 5.8 5.8 2.8 6.9 2.3 7.9 4.8 10.6 14.9 7.3 14.9 5.7 3.0 8.8 7.7 3.1 –0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1970 ............. 1971 ............. 1972 ............. 1973 ............. 1974 ............. 4,269.9 4,413.3 4,647.7 4,917.0 4,889.9 2,740.2 2,844.6 3,019.5 3,169.1 3,142.8 475.1 529.3 591.9 661.3 612.6 175.5 178.4 191.8 228.0 246.0 236.6 249.2 277.2 290.1 283.5 1,233.7 1,206.9 1,198.1 1,193.9 1,224.0 –118.0 –96.7 –76.4 –45.2 –52.0 0.2 3.4 5.3 5.8 –0.6 2.3 3.8 6.2 5.0 –0.8 –6.6 11.4 11.8 11.7 –7.4 10.7 1.7 7.5 18.9 7.9 4.3 5.3 11.3 4.6 –2.3 –2.4 –2.2 –0.7 –0.4 2.5 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1975 ............. 1976 ............. 1977 ............. 1978 ............. 1979 ............. 4,879.5 5,141.3 5,377.7 5,677.6 5,855.0 3,214.1 3,393.1 3,535.9 3,691.8 3,779.5 504.1 605.9 697.4 781.5 806.4 244.5 255.1 261.3 288.8 317.5 252.0 301.3 334.2 363.2 369.2 1,251.6 1,257.2 1,271.0 1,308.4 1,332.8 –82.8 –68.7 –53.7 –29.7 –12.0 –0.2 5.4 4.6 5.6 3.1 2.3 5.6 4.2 4.4 2.4 –17.7 20.2 15.1 12.1 3.2 –0.6 4.4 2.4 10.5 9.9 –11.1 19.6 10.9 8.7 1.7 2.3 0.4 1.1 2.9 1.9 0.0 0.1 0.0 0.0 –0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1980 ............. 1981 ............. 1982 ............. 1983 ............. 1984 ............. 5,839.0 5,987.2 5,870.9 6,136.2 6,577.1 3,766.2 3,823.3 3,876.7 4,098.3 4,315.6 717.9 782.4 672.8 735.5 952.1 351.7 356.0 328.8 320.3 346.4 344.7 353.8 349.3 393.4 489.1 1,358.8 1,371.2 1,395.3 1,446.3 1,494.9 –10.9 8.1 –53.4 –70.8 –42.8 –0.3 2.5 –1.9 4.5 7.2 –0.4 1.5 1.4 5.7 5.3 –11.0 9.0 –14.0 9.3 29.5 10.8 1.2 –7.6 –2.6 8.2 –6.6 2.6 –1.3 12.6 24.3 1.9 0.9 1.8 3.7 3.4 –0.1 0.0 0.0 0.0 0.0 –0.1 0.1 0.0 0.0 0.0 0.0 –0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.1 1985 ............. 1986 ............. 1987 ............. 1988 ............. 1989 ............. 6,849.3 7,086.5 7,313.3 7,613.9 7,885.9 4,540.4 4,724.5 4,870.3 5,066.6 5,209.9 943.3 936.9 965.7 988.5 1,028.1 357.0 384.4 425.7 493.9 550.6 520.9 565.4 598.9 622.4 649.8 1,599.0 1,696.2 1,737.1 1,758.9 1,806.8 –69.5 –90.1 –86.6 –71.6 –59.7 4.1 3.5 3.2 4.1 3.6 5.2 4.1 3.1 4.0 2.8 –0.9 –0.7 3.1 2.4 4.0 3.0 7.7 10.8 16.0 11.5 6.5 8.5 5.9 3.9 4.4 7.0 6.1 2.4 1.3 2.7 0.0 0.0 –0.2 0.0 0.1 0.0 0.0 –0.2 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.1 1990 ............. 1991 ............. 1992 ............. 1993 ............. 1994 ............. 8,033.9 8,015.1 8,287.1 8,523.4 8,870.7 5,316.2 5,324.2 5,505.7 5,701.2 5,918.9 993.5 912.7 986.7 1,074.8 1,220.9 600.2 640.0 684.0 706.4 768.0 673.0 672.0 719.2 781.4 874.6 1,864.0 1,884.4 1,893.2 1,878.2 1,878.0 –67.0 –74.2 –63.3 –55.8 –40.5 1.9 –0.2 3.4 2.9 4.1 2.0 0.1 3.4 3.6 3.8 –3.4 –8.1 8.1 8.9 13.6 9.0 6.6 6.9 3.3 8.7 3.6 –0.1 7.0 8.6 11.9 3.2 1.1 0.5 –0.8 0.0 0.0 0.0 0.1 0.2 0.1 0.0 –0.1 0.1 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.5 0.0 –0.2 0.0 0.0 0.0 0.0 0.1 0.0 1995 ............. 1996 ............. 1997 ............. 1998 ............. 1999 ............. 9,093.7 9,433.9 9,854.3 10,283.5 10,779.8 6,079.0 6,291.2 6,523.4 6,865.5 7,240.9 1,258.9 1,370.3 1,540.8 1,695.1 1,844.3 845.7 916.0 1,025.1 1,048.5 1,094.3 944.5 1,026.7 1,165.0 1,301.1 1,450.9 1,888.9 1,907.9 1,943.8 1,985.0 2,056.1 –34.3 –24.8 –13.8 –9.5 –4.9 2.5 3.7 4.5 4.4 4.8 2.7 3.5 3.7 5.2 5.5 3.1 8.8 12.4 10.0 8.8 10.1 8.3 11.9 2.3 4.4 8.0 8.7 13.5 11.7 11.5 0.6 1.0 1.9 2.1 3.6 0.0 0.0 0.0 0.2 0.3 0.0 0.1 –0.1 0.2 0.4 0.0 –0.1 0.0 0.2 1.0 0.0 –0.1 0.0 –0.1 0.1 0.0 0.0 –0.1 0.1 0.0 0.1 0.0 0.0 0.2 –0.3 2000 ............. 2001 ............. 2002 ............. 2003 ............. 2004 ............. 11,226.0 11,347.2 11,553.0 11,840.7 12,263.8 7,608.1 7,813.9 8,021.9 8,247.6 8,532.7 1,970.3 1,831.9 1,807.0 1,871.6 2,058.2 1,188.3 1,121.6 1,099.2 1,116.8 1,222.8 1,639.9 1,593.8 1,648.0 1,720.7 1,910.8 2,097.8 2,178.3 2,279.6 2,330.5 2,362.0 1.4 –4.7 –6.7 –5.1 –1.1 4.1 1.1 1.8 2.5 3.6 5.1 2.7 2.7 2.8 3.5 6.8 –7.0 –1.4 3.6 10.0 8.6 –5.6 –2.0 1.6 9.5 13.0 –2.8 3.4 4.4 11.0 2.0 3.8 4.7 2.2 1.4 0.4 0.3 0.2 0.0 0.0 0.4 0.2 0.0 0.0 –0.1 1.1 0.9 1.2 0.0 0.3 –0.1 –0.2 0.3 0.3 –0.2 –0.1 –0.1 0.0 0.3 –0.3 –0.1 0.4 0.3 –0.3 0.0 2005 ............. 2006 ............. 2007 ............. 2008 ............. 12,638.4 12,976.2 13,254.1 13,312.2 8,819.0 9,073.5 9,313.9 9,290.9 2,172.2 2,230.4 2,146.2 1,989.4 1,305.1 1,422.0 1,546.1 1,629.3 2,027.8 2,151.2 2,193.8 2,123.5 2,369.9 2,402.1 2,443.1 2,518.1 0.0 –0.6 –1.4 8.0 3.1 2.7 2.1 0.4 3.4 2.9 2.6 –0.2 5.5 2.7 –3.8 –7.3 6.7 9.0 8.7 5.4 6.1 6.1 2.0 –3.2 0.3 1.4 1.7 3.1 0.2 –0.1 0.1 –0.7 0.4 –0.1 –0.2 –0.4 –0.3 0.6 1.6 –0.6 –0.3 –0.1 0.3 –0.8 0.2 0.1 –0.2 0.3 –0.1 –0.3 –0.4 0.2 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. 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 GDP, use table 2. See “Explanatory Note” at the end of the text. Table 7C. Chain-Type Price Indexes for Gross Domestic Product, Percent Change From Preceding Year, and Revision to Percent Change Chain-type price indexes, 2005=100 Year Revision to percent change from preceding year 2 Percent change from preceding year Personal Gross Personal Gross Personal Gross Exports Imports Gross Exports Imports Gross Exports Imports Gross Gross conprivate conprivate Gross conprivate of goods of goods Govern- domestic Gross of goods of goods Govern- domestic of goods of goods Govern- domestic domestic sumption domestic and domestic sumption domestic domestic sumption domestic and 1 1 1 and ment purand and ment purand ment purproduct expendi- invest- services services chases product expendi- invest- services services chases product expendi- invest- services services chases tures ment tures ment tures ment 1959.......... 18.348 18.305 26.477 27.073 19.752 12.653 17.972 1.1 1.5 0.9 0.2 0.9 0.4 1.2 –0.1 –0.1 0.0 0.0 0.0 0.0 0.0 1960.......... 1961.......... 1962.......... 1963.......... 1964.......... 18.604 18.814 19.071 19.273 19.572 18.606 18.801 19.023 19.245 19.527 26.607 26.533 26.548 26.463 26.613 27.453 27.871 27.940 27.877 28.107 19.941 19.941 19.706 20.088 20.512 12.809 13.065 13.398 13.690 14.070 18.220 18.412 18.654 18.871 19.175 1.4 1.1 1.4 1.1 1.6 1.6 1.0 1.2 1.2 1.5 0.5 –0.3 0.1 –0.3 0.6 1.4 1.5 0.2 –0.2 0.8 1.0 0.0 –1.2 1.9 2.1 1.2 2.0 2.5 2.2 2.8 1.4 1.1 1.3 1.2 1.6 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1965.......... 1966.......... 1967.......... 1968.......... 1969.......... 19.928 20.493 21.124 22.022 23.110 19.810 20.313 20.824 21.636 22.616 27.037 27.592 28.320 29.378 30.770 29.001 29.877 31.022 31.698 32.771 20.797 21.281 21.364 21.689 22.254 14.444 15.044 15.671 16.520 17.517 19.507 20.054 20.637 21.508 22.563 1.8 2.8 3.1 4.3 4.9 1.4 2.5 2.5 3.9 4.5 1.6 2.1 2.6 3.7 4.7 3.2 3.0 3.8 2.2 3.4 1.4 2.3 0.4 1.5 2.6 2.7 4.2 4.2 5.4 6.0 1.7 2.8 2.9 4.2 4.9 0.0 0.0 0.0 0.0 –0.1 –0.1 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1970.......... 1971.......... 1972.......... 1973.......... 1974.......... 24.328 25.545 26.647 28.124 30.669 23.674 24.680 25.525 26.901 29.703 32.072 33.671 35.077 36.972 40.648 34.027 35.283 36.928 41.784 51.478 23.570 25.017 26.770 31.423 44.957 18.945 20.421 21.989 23.594 25.977 23.778 25.000 26.112 27.623 30.459 5.3 5.0 4.3 5.5 9.0 4.7 4.2 3.4 5.4 10.4 4.2 5.0 4.2 5.4 9.9 3.8 3.7 4.7 13.1 23.2 5.9 6.1 7.0 17.4 43.1 8.2 7.8 7.7 7.3 10.1 5.4 5.1 4.4 5.8 10.3 0.0 0.0 0.0 –0.1 0.0 0.0 –0.1 –0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.1 1975.......... 1976.......... 1977.......... 1978.......... 1979.......... 33.577 35.505 37.764 40.413 43.773 32.184 33.950 36.155 38.687 42.118 45.666 48.190 51.805 56.030 61.099 56.738 58.600 60.987 64.703 72.490 48.699 50.165 54.586 58.440 68.434 28.586 30.469 32.583 34.670 37.575 33.300 35.208 37.586 40.252 43.797 9.5 5.7 6.4 7.0 8.3 8.4 5.5 6.5 7.0 8.9 12.3 5.5 7.5 8.2 9.0 10.2 3.3 4.1 6.1 12.0 8.3 3.0 8.8 7.1 17.1 10.0 6.6 6.9 6.4 8.4 9.3 5.7 6.8 7.1 8.8 0.0 –0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 1980.......... 1981.......... 1982.......... 1983.......... 1984.......... 47.776 52.281 55.467 57.655 59.823 46.641 50.810 53.615 55.923 58.038 66.836 73.154 76.899 76.706 77.256 79.843 85.744 86.138 86.478 87.280 85.240 89.822 86.794 83.541 82.820 41.669 45.768 48.775 50.717 53.319 48.408 52.864 55.859 57.817 59.854 9.1 9.4 6.1 3.9 3.8 10.7 8.9 5.5 4.3 3.8 9.4 9.5 5.1 –0.3 0.7 10.1 7.4 0.5 0.4 0.9 24.6 5.4 –3.4 –3.7 –0.9 10.9 9.8 6.6 4.0 5.1 10.5 9.2 5.7 3.5 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 1985.......... 1986.......... 1987.......... 1988.......... 1989.......... 61.633 63.003 64.763 66.990 69.520 59.938 61.399 63.589 66.121 68.994 78.047 79.737 81.263 83.120 85.107 84.609 83.342 85.451 89.876 91.373 80.100 80.097 84.948 89.011 90.956 54.974 55.977 57.541 59.074 60.924 61.553 62.948 64.923 67.159 69.706 3.0 2.2 2.8 3.4 3.8 3.3 2.4 3.6 4.0 4.3 1.0 2.2 1.9 2.3 2.4 –3.1 –1.5 2.5 5.2 1.7 –3.3 0.0 6.1 4.8 2.2 3.1 1.8 2.8 2.7 3.1 2.8 2.3 3.1 3.4 3.8 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 –0.1 0.0 0.0 0.0 0.0 1990.......... 1991.......... 1992.......... 1993.......... 1994.......... 72.213 74.762 76.537 78.222 79.867 72.147 74.755 76.954 78.643 80.265 86.747 87.981 87.672 88.673 89.828 91.993 93.212 92.833 92.808 93.842 93.563 92.783 92.856 92.144 93.009 63.405 65.606 67.276 68.949 70.819 72.540 74.917 76.724 78.339 79.962 3.9 3.5 2.4 2.2 2.1 4.6 3.6 2.9 2.2 2.1 1.9 1.4 –0.4 1.1 1.3 0.7 1.3 –0.4 0.0 1.1 2.9 –0.8 0.1 –0.8 0.9 4.1 3.5 2.5 2.5 2.7 4.1 3.3 2.4 2.1 2.1 0.0 0.0 0.1 –0.1 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 –0.4 0.0 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 0.1 –0.1 0.0 1995.......... 1996.......... 1997.......... 1998.......... 1999.......... 81.533 83.083 84.554 85.507 86.766 82.041 83.826 85.395 86.207 87.596 90.840 90.455 90.120 89.109 88.989 95.997 94.727 93.103 90.972 90.408 95.557 93.891 90.627 85.748 86.250 72.753 74.488 75.854 76.879 79.337 81.674 83.150 84.397 84.962 86.304 2.1 1.9 1.8 1.1 1.5 2.2 2.2 1.9 1.0 1.6 1.1 –0.4 –0.4 –1.1 –0.1 2.3 –1.3 –1.7 –2.3 –0.6 2.7 –1.7 –3.5 –5.4 0.6 2.7 2.4 1.8 1.4 3.2 2.1 1.8 1.5 0.7 1.6 0.1 0.0 0.1 0.0 0.1 0.1 0.0 0.2 0.1 –0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.1 0.1 0.0 2000.......... 2001.......... 2002.......... 2003.......... 2004.......... 88.648 90.654 92.113 94.099 96.769 89.777 91.488 92.736 94.622 97.098 89.954 90.748 91.118 92.411 95.632 91.999 91.627 91.253 93.216 96.517 89.963 87.762 86.784 89.796 94.144 82.513 84.764 87.003 90.650 94.531 88.463 90.123 91.422 93.550 96.400 2.2 2.3 1.6 2.2 2.8 2.5 1.9 1.4 2.0 2.6 1.1 0.9 0.4 1.4 3.5 1.8 –0.4 –0.4 2.2 3.5 4.3 –2.4 –1.1 3.5 4.8 4.0 2.7 2.6 4.2 4.3 2.5 1.9 1.4 2.3 3.0 0.0 –0.1 –0.1 0.1 –0.1 0.0 –0.2 0.0 0.0 0.0 0.1 –0.1 –0.2 –0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 –0.1 –0.1 0.2 –0.3 0.1 –0.2 0.0 –0.1 –0.2 0.0 –0.1 2005.......... 2006.......... 2007.......... 2008.......... 100.000 103.263 106.221 108.481 100.000 102.746 105.502 109.031 100.000 104.371 106.677 107.355 100.000 103.447 107.103 112.389 100.000 104.144 108.017 119.559 100.000 104.842 109.552 114.502 100.000 103.380 106.408 109.765 3.3 3.3 2.9 2.1 3.0 2.7 2.7 3.3 4.6 4.4 2.2 0.6 3.6 3.4 3.5 4.9 6.2 4.1 3.7 10.7 5.8 4.8 4.5 4.5 3.7 3.4 2.9 3.2 0.0 0.1 0.2 –0.1 0.1 –0.1 0.1 0.0 0.2 0.2 0.8 –0.1 0.0 –0.1 0.0 –0.4 –0.1 –0.2 0.0 0.3 –0.1 0.1 0.0 –0.2 0.0 0.0 0.1 0.0 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago 2004 I II 2005 III IV I II 2006 III IV I II III Gross domestic product (GDP) ............................................. 4.1 4.0 3.1 3.1 3.4 3.1 3.1 2.7 3.0 3.0 2.2 Personal consumption expenditures (PCE)...................................... 3.9 3.5 2.9 3.5 3.3 3.8 3.6 2.7 3.1 2.6 2.5 Goods................................................................................................ 6.1 4.7 3.1 3.9 3.9 4.9 4.5 2.9 3.7 2.5 2.5 Durable goods............................................................................... 10.0 6.6 4.5 5.5 5.1 7.3 6.4 2.1 5.4 2.3 2.3 Nondurable goods......................................................................... 3.8 3.6 2.4 3.0 3.2 3.6 3.4 3.3 2.8 2.6 2.7 Services ............................................................................................ 2.7 2.8 2.8 3.4 3.0 3.2 3.2 2.6 2.7 2.7 2.6 Gross private domestic investment................................................... 8.7 12.7 10.2 8.4 10.2 3.7 3.5 5.0 4.4 6.1 3.5 Fixed investment ............................................................................... 7.5 8.1 6.9 6.8 8.4 7.0 6.1 4.7 5.8 3.5 0.9 Nonresidential ............................................................................... 5.6 5.6 6.0 7.0 8.8 7.5 6.1 4.4 7.8 8.2 7.8 Structures.................................................................................. 1.7 –0.1 1.1 1.7 4.1 2.5 –0.6 –0.1 2.5 8.2 13.2 Equipment and software ........................................................... 6.9 7.5 7.7 8.8 10.4 9.3 8.6 6.1 9.8 8.1 5.9 Residential .................................................................................... 11.4 13.0 8.6 6.6 7.6 6.1 6.1 5.3 2.3 –4.5 –11.0 Change in private inventories............................................................ ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................ Net exports of goods and services ................................................... ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................ Exports.............................................................................................. 9.7 11.7 9.6 7.1 6.6 7.2 6.4 6.7 8.8 8.3 8.5 Goods............................................................................................ 8.2 10.1 9.4 6.2 6.7 8.4 6.8 8.1 10.4 8.8 9.1 Services ........................................................................................ 13.1 15.6 10.2 9.1 6.3 4.5 5.7 3.6 5.4 7.3 6.9 Imports .............................................................................................. 9.1 11.9 12.2 10.9 8.8 5.8 4.9 5.2 6.5 6.6 7.2 Goods............................................................................................ 9.2 11.0 12.4 11.4 9.7 6.4 5.4 5.7 6.4 6.5 7.2 Services ........................................................................................ 8.7 16.3 11.3 8.8 4.3 2.6 2.3 2.3 7.2 7.0 7.0 Government consumption expenditures and gross investment .... 2.3 1.2 1.3 0.6 0.2 0.0 0.5 0.7 1.6 1.6 0.8 Federal .............................................................................................. 7.0 2.7 4.4 2.3 1.5 1.0 1.6 1.2 3.6 2.6 0.2 National defense ........................................................................... 10.9 2.8 7.1 2.4 1.8 2.0 1.8 0.4 2.1 1.6 –1.6 Nondefense................................................................................... 0.1 2.5 –0.8 2.3 0.9 –1.0 1.2 2.6 6.8 4.8 3.9 State and local .................................................................................. –0.2 0.4 –0.5 –0.4 –0.5 –0.6 –0.1 0.4 0.4 0.9 1.2 Addenda: Final sales of domestic product......................................................... 4.0 3.3 2.6 2.8 3.0 3.6 3.5 2.7 3.3 2.5 1.8 Gross domestic purchases................................................................ 4.3 4.4 3.7 3.8 3.8 3.1 3.0 2.7 3.0 3.0 2.4 Final sales to domestic purchasers................................................... 4.1 3.7 3.2 3.5 3.5 3.6 3.4 2.7 3.2 2.6 2.0 Gross national product ...................................................................... 4.6 4.2 3.3 2.8 3.3 3.1 3.1 2.7 2.8 2.8 1.8 Real disposable personal income ..................................................... 4.0 3.4 2.7 3.5 1.8 1.5 1.4 0.6 3.7 3.9 3.8 Price indexes: Gross domestic purchases............................................................ 2.2 3.0 3.3 3.7 3.6 3.5 3.9 4.0 3.8 3.9 3.4 Gross domestic purchases excluding food and energy 1 .............. 2.1 2.7 3.0 3.2 3.4 3.3 3.3 3.5 3.2 3.4 3.2 GDP .............................................................................................. 2.3 2.8 3.0 3.2 3.3 3.1 3.4 3.5 3.3 3.6 3.3 GDP excluding food and energy 1 ................................................. 2.0 2.7 3.1 3.3 3.5 3.4 3.5 3.7 3.4 3.6 3.3 PCE............................................................................................... 2.0 2.7 2.7 3.0 2.8 2.7 3.2 3.3 3.1 3.2 2.8 PCE excluding food and energy 1 ................................................. 1.8 2.1 2.2 2.2 2.3 2.2 2.1 2.3 2.1 2.3 2.5 1.8 2.5 2.4 2.8 2.5 2.5 3.1 3.2 3.1 3.3 2.9 Market-based PCE 2 ..................................................................... Market-based PCE excluding food and energy 2 .......................... 1.5 1.8 1.7 1.9 2.0 1.9 1.9 2.1 2.0 2.2 2.5 2006 IV 2007 I II 2008 III IV I II 2009 III IV I II Gross domestic product (GDP) ............................................. 2.4 1.4 1.9 2.7 2.5 2.0 1.6 0.0 –1.9 –3.3 –3.9 Personal consumption expenditures (PCE)...................................... 3.3 3.1 2.8 2.7 2.0 0.9 0.6 –0.7 –1.8 –1.5 –1.8 Goods................................................................................................ 4.3 3.4 3.3 3.3 2.6 0.3 0.1 –2.7 –5.9 –4.1 –4.9 Durable goods............................................................................... 6.3 3.6 4.4 4.6 4.6 0.8 –1.2 –5.4 –11.8 –8.9 –9.2 Nondurable goods......................................................................... 3.2 3.3 2.7 2.6 1.5 0.0 0.7 –1.2 –2.9 –1.7 –2.8 Services ............................................................................................ 2.8 2.9 2.6 2.4 1.7 1.3 0.9 0.3 0.3 –0.2 –0.2 Gross private domestic investment................................................... –3.0 –5.8 –4.4 –2.8 –2.0 –2.3 –6.3 –8.1 –12.5 –25.2 –27.4 Fixed investment ............................................................................... –0.8 –3.7 –2.4 –1.2 –0.9 –1.9 –3.4 –5.4 –9.6 –18.8 –21.2 Nonresidential ............................................................................... 7.8 4.5 5.5 6.8 7.9 7.3 4.8 0.9 –6.0 –17.4 –19.6 Structures.................................................................................. 13.0 12.2 12.3 16.2 18.9 16.5 14.5 7.9 3.2 –12.0 –16.9 Equipment and software ........................................................... 6.0 1.6 2.7 2.7 3.2 3.1 0.2 –2.7 –10.7 –20.2 –21.0 Residential .................................................................................... –15.7 –18.5 –17.5 –17.8 –20.5 –23.5 –24.2 –22.6 –21.0 –23.9 –27.1 Change in private inventories............................................................ ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. Net exports of goods and services ................................................... ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. Exports.............................................................................................. 10.2 7.0 6.6 11.0 10.2 9.3 11.0 5.4 –3.4 –11.6 –15.7 Goods............................................................................................ 9.4 5.8 5.5 9.2 9.0 9.3 11.3 7.0 –3.4 –14.8 –19.6 Services ........................................................................................ 12.0 9.7 9.0 15.3 13.0 9.1 10.4 1.9 –3.5 –4.8 –7.1 Imports .............................................................................................. 4.1 3.3 2.0 1.7 0.9 –0.8 –1.9 –3.3 –6.8 –16.2 –18.6 Goods............................................................................................ 3.6 3.3 1.8 1.1 0.7 –1.4 –2.3 –3.9 –8.1 –18.8 –21.3 Services ........................................................................................ 7.1 3.3 3.4 5.2 2.0 2.6 0.2 –0.4 0.2 –3.6 –4.8 Government consumption expenditures and gross investment .... 1.5 0.5 1.5 2.3 2.5 3.1 2.9 3.2 3.0 1.7 2.2 Federal .............................................................................................. 2.2 –2.0 0.7 3.0 3.4 6.9 7.0 7.9 8.9 5.6 6.4 National defense ........................................................................... 4.4 –0.2 1.7 4.6 2.6 6.7 6.3 8.6 9.5 6.0 7.5 Nondefense................................................................................... –2.3 –5.5 –1.4 –0.2 5.2 7.1 8.3 6.3 7.5 4.8 3.9 State and local .................................................................................. 1.2 2.0 2.0 1.9 1.9 1.0 0.7 0.5 –0.3 –0.6 –0.3 Addenda: Final sales of domestic product......................................................... 2.8 1.8 2.2 3.0 2.7 2.1 2.1 0.5 –1.4 –2.3 –3.0 Gross domestic purchases................................................................ 1.9 1.1 1.4 1.7 1.4 0.8 0.0 –1.2 –2.5 –4.4 –4.8 Final sales to domestic purchasers................................................... 2.3 1.5 1.8 2.0 1.6 0.9 0.4 –0.7 –2.1 –3.5 –3.9 Gross national product ...................................................................... 2.4 1.3 1.8 3.3 3.3 2.8 1.9 0.1 –2.4 –3.8 ................. Real disposable personal income ..................................................... 4.6 3.1 2.3 2.3 1.0 0.0 2.2 –0.5 0.3 1.2 –0.3 Price indexes: Gross domestic purchases............................................................ 2.6 2.9 2.8 2.6 3.5 3.3 3.5 4.0 1.9 0.7 –0.1 Gross domestic purchases excluding food and energy 1 .............. 2.9 3.0 2.6 2.6 2.8 2.5 2.8 2.9 2.0 1.4 0.9 GDP .............................................................................................. 2.9 3.2 3.0 2.6 2.7 2.1 1.9 2.5 1.9 1.9 1.5 GDP excluding food and energy 1 ................................................. 3.0 3.1 2.7 2.6 2.8 2.4 2.4 2.7 1.7 1.2 0.9 PCE............................................................................................... 1.9 2.4 2.4 2.3 3.6 3.6 3.8 4.3 1.7 0.4 –0.2 2.3 2.5 2.2 2.2 2.5 2.4 2.5 2.6 2.0 1.7 1.6 PCE excluding food and energy 1 ................................................. Market-based PCE 2 ..................................................................... 1.8 2.2 2.3 2.0 3.5 3.6 3.7 4.6 1.9 0.6 0.0 Market-based PCE excluding food and energy 2 .......................... 2.2 2.3 2.0 1.9 2.2 2.2 2.3 2.6 2.3 2.1 2.1 1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. 2. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Table 9. Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars] Seasonally adjusted at annual rates 1998 Gross domestic product ............................................. Plus: Income receipts from the rest of the world ........... Less: Income payments to the rest of the world ............ Equals: Gross national product ................................. Less: Consumption of fixed capital................................ Less: Statistical discrepancy ......................................... Equals: National income............................................. Compensation of employees ..................................... Wage and salary accruals ..................................... Supplements to wages and salaries...................... Proprietors’ income with inventory valuation and capital consumption adjustments .......................... Rental income of persons with capital consumption adjustment............................................................. Corporate profits with inventory valuation and capital consumption adjustments...................................... Net interest and miscellaneous payments................. Taxes on production and imports less subsidies ....... Business current transfer payments (net).................. Current surplus of government enterprises............... Addendum: Gross domestic income............................................. 1999 8,793.5 286.2 268.9 8,810.8 1,020.5 –85.3 7,875.6 5,023.2 4,180.9 842.3 9,353.5 319.5 291.7 9,381.3 1,094.4 –71.1 8,358.0 5,353.9 4,465.2 888.8 2000 9,951.5 380.5 342.8 9,989.2 1,184.3 –134.0 8,938.9 5,788.8 4,827.7 961.2 2001 10,286.2 323.0 271.1 10,338.1 1,256.2 –103.4 9,185.2 5,979.3 4,952.2 1,027.1 2002 10,642.3 313.5 264.4 10,691.4 1,305.0 –22.1 9,408.5 6,110.8 4,997.3 1,113.5 2003 11,142.1 353.3 284.6 11,210.8 1,354.1 16.6 9,840.2 6,382.6 5,154.6 1,228.0 2004 2005 11,867.8 448.6 357.4 11,959.0 1,432.8 –7.8 10,534.0 6,693.4 5,410.7 1,282.7 2006 12,638.4 573.0 475.9 12,735.5 1,541.4 –79.7 11,273.8 7,065.0 5,706.0 1,359.1 13,398.9 721.1 648.6 13,471.3 1,660.7 –220.6 12,031.2 7,477.0 6,070.1 1,406.9 2007 2008 14,077.6 861.8 746.0 14,193.3 1,760.0 –14.8 12,448.2 7,856.5 6,402.6 1,453.8 2004 14,441.4 809.2 667.3 14,583.3 1,847.1 101.0 12,635.2 8,037.4 6,540.8 1,496.6 2005 I II III IV I II 11,597.2 418.2 307.6 11,707.8 1,396.7 29.9 10,281.2 6,539.8 5,275.9 1,263.9 11,778.4 434.4 348.6 11,864.2 1,419.5 0.0 10,444.7 6,636.4 5,363.6 1,272.8 11,950.5 456.3 359.5 12,047.3 1,444.4 –38.7 10,641.6 6,756.3 5,468.9 1,287.4 12,144.9 485.4 413.8 12,216.6 1,470.4 –22.6 10,768.7 6,841.2 5,534.4 1,306.8 12,379.5 535.5 428.7 12,486.3 1,495.7 –29.0 11,019.6 6,921.1 5,584.2 1,336.9 12,516.8 551.3 455.1 12,613.0 1,524.2 –67.7 11,156.6 7,003.6 5,651.7 1,351.9 687.5 746.8 817.5 870.7 890.3 930.6 1,033.8 1,069.8 1,133.0 1,096.4 1,106.3 1,002.1 1,029.8 1,040.1 1,063.1 1,046.8 1,054.0 191.5 208.2 215.3 232.4 218.7 204.2 812.4 479.3 603.1 65.2 13.3 856.3 481.4 628.4 69.0 14.1 819.2 539.3 662.7 87.0 9.1 784.2 544.4 669.0 101.3 4.0 872.2 506.4 721.4 82.4 6.3 977.8 1,246.9 1,456.1 1,608.3 1,541.7 1,360.4 1,187.2 1,226.9 1,292.2 1,281.4 1,408.2 1,429.0 504.1 461.6 543.0 652.2 739.2 815.1 467.7 460.6 454.0 464.2 509.4 528.0 757.7 817.0 869.3 935.5 974.0 993.8 798.7 812.1 822.9 834.3 848.7 864.2 76.1 81.7 95.9 83.0 102.2 118.8 77.8 80.0 79.0 89.9 96.5 99.6 7.0 1.2 –3.5 –4.2 –6.6 –6.9 3.7 1.9 0.3 –0.9 –1.8 –3.1 198.4 178.2 146.5 144.9 210.4 204.2 197.1 196.8 195.4 190.7 181.5 8,878.8 9,424.6 10,085.5 10,389.5 10,664.4 11,125.5 11,875.6 12,718.0 13,619.5 14,092.5 14,340.4 11,567.3 11,778.4 11,989.3 12,167.5 12,408.4 12,584.5 Seasonally adjusted at annual rates 2005 III Gross domestic product ............................................. Plus: Income receipts from the rest of the world ........... Less: Income payments to the rest of the world ............ Equals: Gross national product ................................. Less: Consumption of fixed capital................................ Less: Statistical discrepancy ......................................... Equals: National income............................................. Compensation of employees ..................................... Wage and salary accruals ..................................... Supplements to wages and salaries...................... Proprietors’ income with inventory valuation and capital consumption adjustments .......................... Rental income of persons with capital consumption adjustment............................................................. Corporate profits with inventory valuation and capital consumption adjustments...................................... Net interest and miscellaneous payments................. Taxes on production and imports less subsidies ....... Business current transfer payments (net).................. Current surplus of government enterprises............... Addendum: Gross domestic income............................................. 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II 12,741.6 12,915.6 13,183.5 13,347.8 13,452.9 13,611.5 13,795.6 13,997.2 14,179.9 14,337.9 14,373.9 14,497.8 14,546.7 14,347.3 14,178.0 14,149.8 582.4 622.9 659.0 716.4 741.6 767.2 787.9 852.1 897.6 909.4 856.3 840.5 825.6 714.4 579.6 ............... 475.3 544.5 578.5 640.9 679.7 695.5 724.0 776.0 759.1 725.1 685.3 711.6 664.8 607.4 479.7 ............... 12,848.7 12,994.1 13,264.0 13,423.3 13,514.8 13,683.2 13,859.5 14,073.3 14,318.3 14,522.2 14,544.9 14,626.6 14,707.5 14,454.3 14,277.9 ............... 1,556.0 1,589.6 1,618.0 1,648.2 1,675.2 1,701.3 1,726.7 1,749.4 1,771.2 1,792.8 1,813.6 1,835.6 1,858.2 1,881.0 1,883.6 1,874.1 –67.5 –154.5 –192.2 –190.7 –253.4 –246.0 –121.1 –97.1 64.9 94.0 69.8 126.7 68.3 139.4 152.1 ............... 11,360.2 11,559.0 11,838.2 11,965.9 12,093.0 12,227.9 12,253.9 12,421.1 12,482.2 12,635.4 12,661.5 12,664.4 12,781.0 12,433.9 12,242.2 ............... 7,128.4 7,207.1 7,353.7 7,419.9 7,484.1 7,650.3 7,757.2 7,819.7 7,869.6 7,979.3 8,017.5 8,032.8 8,069.1 8,030.3 7,859.1 7,756.4 5,758.3 5,829.7 5,958.9 6,018.6 6,075.4 6,227.6 6,318.6 6,372.2 6,412.5 6,507.3 6,533.0 6,539.2 6,567.7 6,523.5 6,358.9 6,258.1 1,370.1 1,377.4 1,394.8 1,401.3 1,408.7 1,422.6 1,438.6 1,447.5 1,457.1 1,472.1 1,484.5 1,493.5 1,501.4 1,506.8 1,500.2 1,498.4 1,082.6 1,095.8 1,126.9 1,133.2 1,131.2 1,140.6 1,094.2 1,096.0 1,093.2 1,102.1 1,115.2 1,111.9 1,114.4 1,083.6 1,037.8 1,023.4 168.4 172.3 161.3 153.2 140.3 131.2 121.1 140.3 150.2 168.0 179.9 202.8 222.2 236.7 245.9 255.2 1,454.7 558.0 877.5 95.2 –4.5 1,532.5 576.9 886.6 92.3 –4.5 1,590.9 608.9 916.0 82.8 –2.4 1,597.7 654.4 931.9 79.3 –3.8 1,655.1 661.6 941.9 83.6 –4.7 1,589.6 684.0 952.1 86.1 –6.0 1,535.4 690.6 966.0 97.8 –8.4 1,594.9 711.3 966.9 99.0 –6.9 1,537.1 756.0 976.1 105.0 –4.9 1,499.4 798.9 986.8 107.0 –6.0 1,459.7 790.7 989.3 114.8 –5.6 1,403.7 809.0 997.9 112.6 –6.3 1,454.6 806.1 1,005.7 116.0 –6.9 1,123.6 854.7 982.1 131.8 –8.9 1,182.7 ............... 826.2 805.2 963.2 971.3 137.9 145.2 –10.7 –8.9 12,809.1 13,070.2 13,375.7 13,538.5 13,706.3 13,857.5 13,916.7 14,094.3 14,114.9 14,243.9 14,304.1 14,371.1 14,478.4 14,207.9 14,025.8 ............... Table 10. Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates 1998 Personal income 1 ....................................................... Compensation of employees, received...................... Wage and salary disbursements ........................... Supplements to wages and salaries...................... Proprietors’ income with inventory valuation and capital consumption adjustments .......................... Farm ...................................................................... Nonfarm................................................................. Rental income of persons with capital consumption adjustment............................................................. Personal income receipts on assets.......................... Personal interest income ....................................... Personal dividend income ..................................... Personal current transfer receipts.............................. Less: Contributions for government social insurance, domestic ................................................................ Less: Personal current taxes ......................................... Equals: Disposable personal income........................ Less: Personal outlays................................................... Equals: Personal saving ............................................. Personal saving as a percentage of disposable personal income.................................................... Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 ........................ Disposable personal income, billions of chained (2005) dollars 2 ...................................................... 1999 2000 2001 2002 7,525.4 7,910.8 8,559.4 8,883.3 9,060.1 5,023.9 5,348.8 5,788.8 5,979.3 6,110.8 4,181.6 4,460.0 4,827.7 4,952.2 4,997.3 842.3 888.8 961.2 1,027.1 1,113.5 687.5 28.9 658.7 746.8 28.5 718.3 817.5 29.6 787.8 870.7 30.5 840.2 890.3 18.5 871.8 2003 2004 2005 2006 2007 2008 9,378.1 6,367.6 5,139.6 1,228.0 9,937.2 6,708.4 5,425.7 1,282.7 10,485.9 7,060.0 5,701.0 1,359.1 11,268.1 7,475.7 6,068.9 1,406.9 11,894.1 7,862.7 6,408.9 1,453.8 12,238.8 8,042.4 6,545.9 1,496.6 2004 2005 I II III IV I II 9,679.8 6,543.3 5,279.4 1,263.9 9,847.1 6,657.9 5,385.1 1,272.8 9,999.1 6,781.3 5,493.9 1,287.4 10,223.1 6,851.2 5,544.4 1,306.8 10,238.6 6,921.1 5,584.2 1,336.9 10,386.7 7,003.6 5,651.7 1,351.9 930.6 1,033.8 1,069.8 1,133.0 1,096.4 1,106.3 1,002.1 1,029.8 1,040.1 1,063.1 1,046.8 1,054.0 36.5 49.7 43.9 29.3 39.4 48.7 54.2 52.0 44.0 48.5 43.7 46.4 894.1 984.1 1,025.9 1,103.6 1,056.9 1,057.5 947.9 977.8 996.1 1,014.6 1,003.1 1,007.6 191.5 208.2 215.3 232.4 218.7 204.2 198.4 178.2 146.5 144.9 210.4 204.2 197.1 196.8 195.4 190.7 181.5 1,269.2 1,246.8 1,360.7 1,346.0 1,309.6 1,312.9 1,408.5 1,542.0 1,829.7 2,031.5 1,994.4 1,350.0 1,372.9 1,395.5 1,515.5 1,459.7 1,507.1 919.3 910.9 984.2 976.5 911.9 889.8 860.2 987.0 1,127.5 1,266.4 1,308.0 855.6 850.3 858.0 877.0 927.8 970.6 349.8 335.9 376.5 369.5 397.7 423.1 548.3 555.0 702.2 765.1 686.4 494.4 522.6 537.5 638.5 531.9 536.5 977.9 1,021.6 1,083.0 1,188.1 1,282.1 1,341.7 1,415.5 1,508.6 1,605.0 1,718.0 1,875.9 1,392.5 1,411.0 1,418.5 1,440.1 1,481.3 1,506.4 624.7 661.3 705.8 733.2 751.5 778.9 827.3 872.7 921.8 959.3 990.6 812.3 821.6 833.1 842.2 861.0 865.8 1,026.4 1,107.5 1,232.3 1,234.8 1,050.4 1,000.3 1,047.8 1,208.6 1,352.4 1,490.9 1,432.4 1,009.3 1,026.4 1,064.7 1,090.9 1,164.2 1,192.3 6,498.9 6,803.3 7,327.2 7,648.5 8,009.7 8,377.8 8,889.4 9,277.3 9,915.7 10,403.1 10,806.4 8,670.5 8,820.7 8,934.4 9,132.1 9,074.3 9,194.4 6,157.5 6,595.5 7,114.1 7,443.5 7,727.5 8,088.0 8,585.7 9,149.6 9,680.7 10,224.3 10,520.0 8,394.9 8,505.4 8,635.3 8,807.1 8,932.5 9,077.4 341.5 207.8 213.1 204.9 282.2 289.8 303.7 127.7 235.0 178.9 286.4 275.5 315.4 299.1 325.0 141.8 117.0 5.3 3.1 2.9 2.7 3.5 3.5 3.4 1.4 2.4 1.7 2.7 3.2 3.6 3.3 3.6 1.6 1.3 7,595.0 7,864.8 8,327.8 8,411.1 8,387.2 8,493.1 8,776.4 8,977.3 9,404.8 9,645.4 9,504.6 8,627.1 8,717.5 8,812.5 8,947.7 8,868.4 8,936.9 7,538.8 7,766.7 8,161.5 8,360.1 8,637.1 8,853.9 9,155.1 9,277.3 9,650.7 9,860.6 9,911.3 9,025.9 9,115.0 9,175.9 9,303.4 9,189.6 9,253.0 Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I II Personal income 1 ....................................................... 10,577.5 10,740.8 11,026.7 11,204.0 11,336.9 11,504.8 11,706.9 11,823.4 11,945.6 12,100.3 12,142.2 12,292.9 12,286.6 12,233.5 11,981.8 11,989.8 Compensation of employees, received...................... 7,128.4 7,187.1 7,373.7 7,419.9 7,484.1 7,625.3 7,782.2 7,819.7 7,869.6 7,979.3 8,017.5 8,032.8 8,069.1 8,050.3 7,839.1 7,756.4 Wage and salary disbursements ........................... 5,758.3 5,809.7 5,978.9 6,018.6 6,075.4 6,202.6 6,343.6 6,372.2 6,412.5 6,507.3 6,533.0 6,539.2 6,567.7 6,543.5 6,338.9 6,258.1 Supplements to wages and salaries...................... 1,370.1 1,377.4 1,394.8 1,401.3 1,408.7 1,422.6 1,438.6 1,447.5 1,457.1 1,472.1 1,484.5 1,493.5 1,501.4 1,506.8 1,500.2 1,498.4 Proprietors’ income with inventory valuation and capital consumption adjustments .......................... 1,082.6 1,095.8 1,126.9 1,133.2 1,131.2 1,140.6 1,094.2 1,096.0 1,093.2 1,102.1 1,115.2 1,111.9 1,114.4 1,083.6 1,037.8 1,023.4 Farm ...................................................................... 45.6 39.9 28.4 28.4 28.4 32.2 36.7 35.7 37.5 47.9 57.2 49.4 49.3 39.0 27.3 27.2 Nonfarm................................................................. 1,037.0 1,055.9 1,098.5 1,104.8 1,102.8 1,108.4 1,057.5 1,060.3 1,055.7 1,054.2 1,057.9 1,062.5 1,065.1 1,044.5 1,010.5 996.2 Rental income of persons with capital consumption adjustment............................................................. 168.4 172.3 161.3 153.2 140.3 131.2 121.1 140.3 150.2 168.0 179.9 202.8 222.2 236.7 245.9 255.2 Personal income receipts on assets.......................... 1,560.4 1,640.8 1,711.1 1,817.2 1,881.3 1,909.0 1,968.2 2,022.0 2,065.8 2,069.8 2,020.8 1,997.3 2,001.4 1,958.1 1,845.5 1,782.5 Personal interest income ....................................... 1,003.1 1,046.5 1,067.2 1,128.7 1,156.8 1,157.2 1,198.3 1,246.5 1,297.9 1,322.8 1,304.6 1,306.6 1,327.8 1,292.9 1,243.4 1,247.5 Personal dividend income ..................................... 557.3 594.3 643.9 688.5 724.5 751.9 769.9 775.5 767.9 747.0 716.2 690.7 673.7 665.2 602.1 534.9 Personal current transfer receipts.............................. 1,516.7 1,529.8 1,569.0 1,597.9 1,620.7 1,632.4 1,693.8 1,699.1 1,725.5 1,753.7 1,794.1 1,937.0 1,874.3 1,898.0 1,987.3 2,135.2 Less: Contributions for government social insurance, domestic ................................................................ 879.0 885.0 915.4 917.4 920.8 933.8 952.5 953.7 958.6 972.6 985.3 988.9 994.9 993.3 973.9 963.0 Less: Personal current taxes ......................................... 1,224.0 1,253.8 1,321.5 1,340.2 1,354.3 1,393.5 1,459.5 1,481.8 1,500.7 1,521.9 1,531.8 1,326.2 1,437.3 1,434.3 1,192.6 1,079.5 Equals: Disposable personal income........................ 9,353.5 9,487.1 9,705.2 9,863.8 9,982.5 10,111.2 10,247.4 10,341.7 10,445.0 10,578.4 10,610.4 10,966.7 10,849.3 10,799.1 10,789.2 10,910.3 Less: Personal outlays................................................... 9,243.2 9,345.2 9,493.5 9,618.2 9,754.9 9,856.4 10,038.3 10,158.2 10,275.6 10,425.0 10,484.1 10,592.2 10,613.6 10,389.9 10,362.3 10,344.2 Equals: Personal saving ............................................. 110.2 141.8 211.7 245.6 227.7 254.8 209.1 183.5 169.4 153.5 126.3 374.4 235.7 409.2 426.9 566.0 Personal saving as a percentage of disposable personal income.................................................... 1.2 1.5 2.2 2.5 2.3 2.5 2.0 1.8 1.6 1.5 1.2 3.4 2.2 3.8 4.0 5.2 Addenda: Personal income excluding current transfer receipts, billions of chained (2005) dollars 2 ........................ 9,016.7 9,086.4 9,290.6 9,366.1 9,404.7 9,557.5 9,605.4 9,635.9 9,671.1 9,669.6 9,583.9 9,498.8 9,442.0 9,494.4 9,215.5 9,056.9 Disposable personal income, billions of chained (2005) dollars 2 ...................................................... 9,308.0 9,358.7 9,533.8 9,617.3 9,662.5 9,788.8 9,830.2 9,842.7 9,883.9 9,886.2 9,826.8 10,059.0 9,838.3 9,920.4 9,948.3 10,027.2 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), current surplus of government enter- prises, and wage accruals less disbursements, plus personal income receipts on assets, and personal current transfer receipts. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Table 11A. Corporate Profits [Billions of dollars] Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I Corporate profits with inventory valuation and capital consumption adjustments ............................................................................................. Less: Taxes on corporate income.................................................................. Equals: Profits after tax with inventory valuation and capital consumption adjustments...................................................................... Net dividends............................................................................................. Undistributed profits with inventory valuation and capital consumption adjustments ........................................................................................... Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment ............................. Undistributed profits with inventory valuation and capital consumption adjustments....................................................................................... Consumption of fixed capital ................................................................. Less: Capital transfers paid (net)........................................................... Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).......................................................................................... Profits after tax (without inventory valuation and capital consumption adjustments).......................................................................................... Inventory valuation adjustment.................................................................. Capital consumption adjustment ............................................................... II 2005 III IV I II 812.4 248.4 856.3 258.8 819.2 265.1 784.2 203.3 872.2 192.3 977.8 1,246.9 1,456.1 1,608.3 1,541.7 1,360.4 1,187.2 1,226.9 1,292.2 1,281.4 1,408.2 1,429.0 243.8 306.1 412.4 473.3 451.5 292.2 277.6 298.2 320.4 328.1 405.1 395.6 564.1 351.5 597.5 337.4 554.1 377.9 580.9 370.9 679.9 399.3 734.0 424.9 940.8 1,043.7 1,135.0 1,090.2 1,068.2 550.3 557.3 704.8 767.8 689.9 909.6 496.1 928.7 524.4 971.8 539.5 953.3 1,003.1 1,033.3 641.3 534.1 538.8 212.6 260.1 176.3 210.0 280.6 309.2 390.5 413.5 404.3 432.3 312.0 790.9 885.1 861.3 945.0 1,036.5 1,084.8 1,190.1 1,337.0 1,356.1 1,303.4 1,478.4 1,207.3 1,207.6 1,207.8 1,137.9 1,307.9 1,348.2 212.6 578.3 0.0 260.1 625.8 0.9 176.3 685.1 0.0 210.0 730.3 –4.8 280.6 755.9 0.0 309.2 775.5 –0.1 722.9 780.5 772.5 712.7 765.3 903.5 1,229.4 1,640.2 1,822.7 1,774.4 1,462.7 1,137.3 1,209.7 1,281.0 1,289.7 1,581.1 1,591.6 474.5 15.7 73.8 521.7 –4.0 79.7 507.4 –16.8 63.6 509.4 8.0 63.4 573.0 –2.6 109.4 659.7 –11.3 85.6 390.5 809.2 9.5 486.4 486.4 862.9 12.2 430.3 430.3 925.9 0.0 322.4 378.3 322.4 378.3 981.0 1,036.8 0.0 –63.3 923.3 1,227.8 1,349.5 1,322.8 1,170.6 –34.3 –30.7 –38.0 –44.0 –38.2 51.8 –153.4 –176.4 –188.7 –64.1 413.5 793.7 –0.1 859.7 –16.9 66.7 404.3 803.2 –0.1 432.3 813.9 38.5 911.5 –38.4 55.6 312.0 825.8 –0.1 960.5 –34.9 46.2 469.0 469.0 838.8 –0.1 494.5 494.5 853.6 –0.1 961.5 1,176.0 1,196.0 –46.9 –38.2 –18.2 38.6 –134.7 –144.5 Seasonally adjusted at annual rates 2005 III Corporate profits with inventory valuation and capital consumption adjustments ............................................................................................. Less: Taxes on corporate income.................................................................. Equals: Profits after tax with inventory valuation and capital consumption adjustments...................................................................... Net dividends............................................................................................. Undistributed profits with inventory valuation and capital consumption adjustments ........................................................................................... Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment ............................. Undistributed profits with inventory valuation and capital consumption adjustments....................................................................................... Consumption of fixed capital ................................................................. Less: Capital transfers paid (net)........................................................... Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).......................................................................................... Profits after tax (without inventory valuation and capital consumption adjustments).......................................................................................... Inventory valuation adjustment.................................................................. Capital consumption adjustment ............................................................... 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I 1,454.7 1,532.5 1,590.9 1,597.7 1,655.1 1,589.6 1,535.4 1,594.9 1,537.1 1,499.4 1,459.7 1,403.7 1,454.6 1,123.6 1,182.7 403.1 445.7 460.7 475.1 496.6 460.7 469.5 466.5 440.0 430.1 323.2 317.5 304.8 223.3 270.3 1,051.6 1,086.8 1,130.2 1,122.6 1,158.5 1,128.8 1,065.9 1,128.4 1,097.1 1,069.3 1,136.4 1,086.3 1,149.8 559.7 596.7 646.4 691.1 727.1 754.5 772.6 778.1 770.6 749.9 719.4 693.7 676.6 492.0 490.0 483.9 431.5 431.4 374.3 293.3 350.3 326.5 319.4 417.1 392.6 473.2 900.4 669.9 912.4 618.1 230.5 294.2 1,308.8 1,383.2 1,388.0 1,350.5 1,364.6 1,321.5 1,253.8 1,324.3 1,314.3 1,321.0 1,432.8 1,422.4 1,499.4 1,559.2 1,575.4 492.0 870.3 53.4 490.0 888.7 –4.4 483.9 904.1 0.0 431.5 918.9 0.0 431.4 933.3 0.0 374.3 947.1 0.0 293.3 960.5 0.0 350.3 974.0 0.0 326.5 319.4 417.1 392.6 473.2 230.5 294.2 987.7 1,001.6 1,015.7 1,029.7 1,043.9 1,058.1 1,058.2 0.0 0.0 0.0 0.0 17.7 –270.7 –223.0 1,641.4 1,746.5 1,815.3 1,819.8 1,865.1 1,790.7 1,747.6 1,808.6 1,758.2 1,783.1 1,620.8 1,593.5 1,576.6 1,060.1 1,246.5 1,238.3 1,300.8 1,354.6 1,344.7 1,368.5 1,330.0 1,278.1 1,342.1 1,318.2 1,353.0 1,297.6 1,276.0 1,271.9 –28.4 –38.0 –33.4 –48.4 –42.3 –28.0 –42.2 –29.5 –25.3 –79.0 –107.9 –129.6 –54.5 –158.3 –176.0 –191.0 –173.7 –167.7 –173.2 –170.0 –184.2 –195.8 –204.7 –53.2 –60.1 –67.6 836.8 139.2 –75.6 976.1 81.1 –144.9 Table 11B. Corporate Profits: Percent Change From Preceding Period [Percent change from preceding period] Quarterly rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I II 2005 III IV I II Corporate profits with inventory valuation and capital consumption adjustments ............................................................................................. –8.2 5.4 –4.3 –4.3 11.2 12.1 27.5 16.8 10.5 –4.1 –11.8 13.0 3.3 5.3 –0.8 9.9 1.5 Less: Taxes on corporate income.................................................................. 1.2 4.2 2.4 –23.3 –5.4 26.7 25.6 34.7 14.8 –4.6 –35.3 3.1 7.4 7.5 2.4 23.5 –2.3 Equals: Profits after tax with inventory valuation and capital consumption adjustments...................................................................... –11.8 5.9 –7.3 4.8 17.0 8.0 28.2 10.9 8.8 –4.0 –2.0 16.4 2.1 4.6 –1.9 5.2 3.0 Net dividends............................................................................................. 6.1 –4.0 12.0 –1.8 7.6 6.4 29.5 1.3 26.5 8.9 –10.1 8.2 5.7 2.9 18.9 –16.7 0.9 Undistributed profits with inventory valuation and capital consumption adjustments ........................................................................................... –31.0 22.3 –32.2 19.1 33.6 10.2 26.3 24.6 –11.5 –25.1 17.4 27.9 –2.2 6.9 –27.8 50.3 5.4 Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment ............................. –6.8 11.9 –2.7 9.7 9.7 4.7 9.7 12.3 1.4 –3.9 13.4 8.9 0.0 0.0 –5.8 14.9 3.1 Undistributed profits with inventory valuation and capital consumption adjustments....................................................................................... –31.0 22.3 –32.2 19.1 33.6 10.2 26.3 24.6 –11.5 –25.1 17.4 27.9 –2.2 6.9 –27.8 50.3 5.4 Consumption of fixed capital ................................................................. 6.9 8.2 9.5 6.6 3.5 2.6 4.3 6.6 7.3 6.0 5.7 1.1 1.2 1.3 1.5 1.6 1.8 Less: Capital transfers paid (net)........................................................... ............ ........... ........... ............ ........... ........... ........... ........... ........... ........... ............ ........... ........... ............ ........... ........... ............ Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).......................................................................................... –9.8 8.0 –1.0 –7.7 7.4 18.0 36.1 33.4 11.1 –2.7 –17.6 14.1 6.4 5.9 0.7 22.6 0.7 Profits after tax (without inventory valuation and capital consumption adjustments).......................................................................................... –14.7 9.9 –2.8 0.4 12.5 15.1 40.0 33.0 9.9 –2.0 –11.5 18.2 6.0 5.4 0.1 22.3 1.7 Inventory valuation adjustment.................................................................. ............ ........... ........... ............ ........... ........... ........... ........... ........... ........... ............ ........... ........... ............ ........... ........... ............ Capital consumption adjustment ............................................................... ............ ........... ........... ............ ........... ........... ........... ........... ........... ........... ............ ........... ........... ............ ........... ........... ............ Quarterly rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I Corporate profits with inventory valuation and capital consumption adjustments ............................................................................................. 1.8 5.4 3.8 0.4 3.6 –4.0 –3.4 3.9 –3.6 –2.5 –2.6 –3.8 3.6 –22.8 5.3 Less: Taxes on corporate income.................................................................. 1.9 10.6 3.3 3.1 4.5 –7.2 1.9 –0.6 –5.7 –2.2 –24.8 –1.8 –4.0 –26.7 21.1 Equals: Profits after tax with inventory valuation and capital consumption adjustments...................................................................... 1.8 3.3 4.0 –0.7 3.2 –2.6 –5.6 5.9 –2.8 –2.5 6.3 –4.4 5.8 –21.7 1.3 Net dividends............................................................................................. 3.9 6.6 8.3 6.9 5.2 3.8 2.4 0.7 –1.0 –2.7 –4.1 –3.6 –2.5 –1.0 –7.7 Undistributed profits with inventory valuation and capital consumption adjustments ........................................................................................... –0.5 –0.4 –1.3 –10.8 0.0 –13.2 –21.6 19.4 –6.8 –2.2 30.6 –5.9 20.5 –51.3 27.7 Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment ............................. –2.9 5.7 0.3 –2.7 1.0 –3.2 –5.1 5.6 –0.8 0.5 8.5 –0.7 5.4 4.0 1.0 Undistributed profits with inventory valuation and capital consumption adjustments....................................................................................... –0.5 –0.4 –1.3 –10.8 0.0 –13.2 –21.6 19.4 –6.8 –2.2 30.6 –5.9 20.5 –51.3 27.7 Consumption of fixed capital ................................................................. 1.9 2.1 1.7 1.6 1.6 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 0.0 Less: Capital transfers paid (net)........................................................... ............. .............. ............. ............. ............. .............. ............. ............. ............. .............. ............. ............. ............. ............. ............. Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).......................................................................................... 3.1 6.4 3.9 0.2 2.5 –4.0 –2.4 3.5 –2.8 1.4 –9.1 –1.7 –1.1 –32.8 17.6 Profits after tax (without inventory valuation and capital consumption adjustments).......................................................................................... 3.5 5.0 4.1 –0.7 1.8 –2.8 –3.9 5.0 –1.8 2.6 –4.1 –1.7 –0.3 –34.2 16.6 Inventory valuation adjustment.................................................................. ............. .............. ............. ............. ............. .............. ............. ............. ............. .............. ............. ............. ............. ............. ............. Capital consumption adjustment ............................................................... ............. .............. ............. ............. ............. .............. ............. ............. ............. .............. ............. ............. ............. ............. ............. Table 12A. Corporate Profits by Industry [Billions of dollars] Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I 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 ............................................................................. 812.4 709.7 165.8 543.9 102.8 146.8 44.0 738.6 635.9 159.5 25.6 133.9 476.4 33.5 155.8 82.7 16.4 15.3 4.2 6.2 6.4 34.2 73.1 22.1 5.3 25.0 20.7 52.8 67.3 21.3 21.9 123.7 102.8 856.3 734.8 200.2 534.6 121.5 176.8 55.3 776.6 655.0 189.3 26.7 162.6 465.7 33.7 148.8 71.2 16.4 11.7 –6.8 6.4 7.7 35.9 77.6 30.9 2.2 22.8 21.7 54.8 65.7 16.5 12.5 133.6 121.5 819.2 673.6 201.4 472.2 145.6 202.5 56.9 755.7 610.0 189.6 31.2 158.4 420.4 25.6 143.9 60.0 15.8 7.7 4.2 5.9 –0.7 27.1 83.9 26.0 27.6 13.8 16.5 58.7 60.7 15.2 –15.5 131.8 145.6 784.2 614.5 244.4 370.1 169.7 182.6 12.9 720.8 551.1 228.0 28.9 199.1 323.1 25.2 49.7 –26.9 9.8 2.0 –48.6 1.9 –8.9 16.8 76.6 28.2 29.7 11.6 7.1 51.3 72.6 1.2 –24.4 147.4 169.7 872.2 714.3 287.1 427.2 157.9 204.4 46.5 762.8 604.9 265.2 23.5 241.7 339.7 12.3 47.7 –7.7 9.1 1.4 –34.4 0.0 –4.5 20.7 55.4 25.3 1.3 17.8 11.0 49.1 81.6 –0.1 –3.8 153.0 157.9 II 2005 III IV I 977.8 1,246.9 1,456.1 1,608.3 1,541.7 1,360.4 1,187.2 1,226.9 1,292.2 1,281.4 1,408.2 812.0 1,041.9 1,216.6 1,351.5 1,193.9 983.2 974.0 1,029.6 1,077.0 1,087.0 1,174.0 325.9 364.4 419.0 427.6 347.0 271.6 352.9 355.0 364.4 385.1 425.5 486.1 677.5 797.6 923.9 846.9 711.6 621.2 674.6 712.6 701.8 748.5 165.8 205.0 239.4 256.8 347.8 377.2 213.2 197.3 215.2 194.4 234.2 249.2 328.2 384.1 434.4 504.5 544.2 314.7 323.1 332.7 342.1 373.3 83.4 123.1 144.6 177.6 156.8 167.0 101.5 125.9 117.5 147.7 139.1 892.2 1,195.1 1,609.5 1,784.7 1,730.4 1,424.5 1,120.5 1,171.3 1,246.0 1,242.8 1,542.9 726.4 990.1 1,370.0 1,527.8 1,382.6 1,047.3 907.3 974.0 1,030.8 1,048.4 1,308.7 311.8 362.3 443.6 448.0 367.8 278.9 346.3 351.7 364.0 387.4 448.0 20.1 20.0 26.6 33.8 37.7 35.7 19.1 19.1 20.1 21.9 22.9 291.8 342.3 417.0 414.1 330.1 243.2 327.2 332.6 343.9 365.4 425.1 414.6 627.8 926.4 1,079.9 1,014.9 768.4 561.1 622.4 666.8 661.0 860.7 12.4 19.4 29.8 54.4 49.1 40.1 16.1 18.7 19.3 23.7 28.0 69.4 154.1 247.2 304.5 278.6 175.5 131.7 148.1 161.3 175.3 242.8 –4.3 40.7 95.6 118.9 96.1 30.7 31.1 40.3 43.2 48.1 86.4 8.0 12.2 18.1 18.7 21.3 17.6 10.9 12.8 11.1 13.7 17.0 1.0 7.1 14.5 19.2 19.8 16.1 3.8 7.2 9.2 8.3 11.5 –14.7 –4.3 9.0 17.4 11.2 4.7 –6.2 –5.8 –3.9 –1.4 6.5 2.2 0.6 –1.4 11.5 –1.1 –4.1 2.5 2.5 –0.1 –2.3 –4.3 –11.7 –6.8 1.1 –6.8 –16.4 –47.5 –1.6 –8.2 –9.6 –7.8 3.9 10.8 31.9 54.2 58.9 61.3 43.9 21.6 31.9 36.5 37.6 51.8 73.8 113.4 151.7 185.7 182.6 144.9 100.6 107.8 118.1 127.2 156.3 24.0 24.3 27.3 32.5 30.2 33.7 24.6 22.3 27.5 22.9 28.2 23.5 49.1 79.4 76.6 77.8 66.5 41.3 46.7 40.6 67.8 71.9 18.9 24.7 25.7 52.5 51.9 31.3 19.3 24.8 32.3 22.6 38.9 7.4 15.3 19.3 24.0 22.7 13.3 15.4 13.9 17.8 14.0 17.4 54.8 75.6 92.2 103.7 102.2 75.1 71.3 80.0 84.3 66.9 90.5 88.9 93.4 122.6 133.2 121.6 78.2 102.3 95.0 88.6 87.6 101.0 7.4 14.4 29.0 42.1 30.0 11.4 14.2 20.5 13.1 9.8 25.7 4.9 45.6 81.3 92.4 90.3 84.7 14.8 47.6 66.3 53.8 76.2 176.7 225.2 324.3 349.6 343.0 303.4 210.6 212.5 234.0 244.0 296.6 165.8 205.0 239.4 256.8 347.8 377.2 213.2 197.3 215.2 194.4 234.2 II 1,429.0 1,195.7 390.2 805.5 233.3 374.6 141.3 1,573.5 1,340.2 414.5 25.5 388.9 925.8 29.4 234.8 93.6 18.0 12.5 8.6 –4.1 3.9 54.7 141.2 25.5 75.7 20.1 19.9 105.7 128.1 28.5 85.7 313.6 233.3 Seasonally adjusted at annual rates 2005 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 ............................................................................. 2006 2007 2008 2009 III IV I II III IV I II III IV I II III IV I 1,454.7 1,201.7 440.6 761.1 252.9 384.3 131.3 1,613.0 1,360.0 466.1 26.8 439.3 893.9 22.6 246.5 96.5 19.8 14.3 10.0 –0.4 –0.2 53.0 150.0 26.9 80.7 21.8 20.5 83.5 117.9 28.2 78.5 316.7 252.9 1,532.5 1,295.2 419.7 875.4 237.4 404.1 166.8 1,708.5 1,471.1 445.8 31.0 414.7 1,025.4 39.1 264.9 105.6 17.5 19.9 11.0 2.9 –3.0 57.4 159.3 28.5 89.5 22.1 19.2 89.2 143.3 33.7 84.8 370.4 237.4 1,590.9 1,344.0 442.0 902.0 246.9 410.6 163.6 1,781.9 1,535.0 466.5 31.0 435.5 1,068.5 45.2 294.4 125.3 19.6 18.8 10.1 12.6 1.2 63.0 169.1 30.3 73.4 46.3 19.0 104.4 132.3 43.4 84.1 364.8 246.9 1,597.7 1,342.4 447.5 894.9 255.3 436.0 180.7 1,771.4 1,516.1 467.8 33.6 434.2 1,048.3 53.1 302.3 94.9 16.7 18.7 19.1 8.8 –13.9 45.5 207.4 32.7 89.1 59.9 25.6 100.7 123.3 45.3 92.6 331.0 255.3 1,655.1 1,404.1 416.5 987.6 251.0 441.2 190.2 1,822.8 1,571.8 434.8 35.8 399.0 1,137.0 60.8 336.4 134.1 18.1 20.1 22.6 12.3 –5.6 66.7 202.3 33.7 84.1 61.5 23.0 107.4 136.4 40.3 100.8 354.9 251.0 1,589.6 1,315.4 404.4 911.1 274.1 450.0 175.9 1,762.7 1,488.6 422.8 34.9 387.8 1,065.8 58.4 285.0 121.2 20.4 19.3 17.7 12.1 –8.8 60.6 163.8 33.1 59.9 42.3 28.5 102.2 140.7 39.6 92.1 347.8 274.1 1,535.4 1,253.2 365.7 887.5 282.2 457.6 175.4 1,705.4 1,423.2 384.2 38.2 346.0 1,039.0 51.3 288.9 105.9 19.1 20.0 17.0 3.5 –15.1 61.4 183.0 28.2 78.0 52.4 24.3 107.9 127.9 32.9 90.5 339.6 282.2 1,594.9 1,283.7 386.0 897.7 311.2 490.0 178.8 1,779.1 1,467.9 406.2 38.5 367.7 1,061.7 46.6 316.0 100.6 20.6 21.0 10.5 –2.1 –8.7 59.3 215.4 33.5 110.9 50.2 20.8 117.0 137.2 33.0 77.5 334.4 311.2 1,537.1 1,166.6 356.5 810.1 370.5 521.8 151.3 1,732.9 1,362.4 378.2 37.5 340.6 984.2 47.3 244.0 84.9 22.5 19.3 11.6 –4.5 –24.9 60.9 159.1 29.3 64.8 42.6 22.5 107.9 118.7 30.9 93.9 341.5 370.5 1,499.4 1,072.3 279.9 792.4 427.1 548.8 121.7 1,704.1 1,277.0 302.5 36.5 266.0 974.5 51.2 265.7 92.8 23.0 19.0 5.5 –1.4 –17.0 63.7 172.9 29.8 57.5 62.4 23.2 76.0 102.4 23.4 99.4 356.4 427.1 1,459.7 1,047.4 350.7 696.7 412.3 565.7 153.5 1,512.9 1,100.6 357.0 35.9 321.1 743.6 33.1 187.6 61.0 18.5 17.1 14.5 –3.6 –35.3 49.8 126.6 29.2 64.5 16.4 16.6 46.6 75.6 12.9 91.6 296.3 412.3 1,403.7 1,036.7 323.9 712.8 367.0 573.6 206.6 1,463.8 1,096.8 330.8 31.1 299.7 766.0 43.1 160.1 19.7 14.9 13.1 2.0 –2.0 –55.7 47.4 140.5 37.1 42.5 48.2 12.7 56.6 80.2 11.9 101.8 312.1 367.0 1,454.6 1,057.4 289.8 767.6 397.2 558.5 161.3 1,522.2 1,125.0 297.5 34.6 262.9 827.5 43.5 205.7 40.5 17.7 14.6 0.1 –2.6 –45.4 56.2 165.2 37.3 79.3 39.1 9.5 85.8 77.1 9.2 81.9 324.4 397.2 1,123.6 791.3 121.9 669.4 332.4 479.1 146.8 1,199.3 866.9 130.3 41.1 89.2 736.6 40.8 148.6 1.5 19.2 19.6 2.2 –8.4 –53.4 22.3 147.1 31.3 79.7 21.7 14.4 111.5 79.7 11.5 63.6 280.8 332.4 1,182.7 867.0 237.8 629.2 315.8 402.2 86.4 1,327.6 1,011.9 253.9 28.8 225.1 758.0 53.6 121.6 8.0 19.3 12.8 3.2 –6.3 –54.8 33.9 113.6 34.7 29.4 29.6 19.8 94.0 83.1 6.7 95.4 303.6 315.8 NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS). Table 12B. Corporate Profits by Industry: Change From Preceding Period [Billions of dollars] Change from preceding period 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I 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 ............................................................................. 43.9 25.1 34.4 –9.3 18.7 30.0 11.3 38.0 19.1 29.8 1.1 28.7 –10.7 0.2 –7.0 –11.5 0.0 –3.6 –11.0 0.2 1.3 1.7 4.5 8.8 –3.1 –2.2 1.0 2.0 –1.6 –4.8 –9.4 9.9 18.7 –37.1 –61.2 1.2 –62.4 24.1 25.7 1.6 –20.9 –45.0 0.3 4.5 –4.2 –45.3 –8.1 –4.9 –11.2 –0.6 –4.0 11.0 –0.5 –8.4 –8.8 6.3 –4.9 25.4 –9.0 –5.2 3.9 –5.0 –1.3 –28.0 –1.8 24.1 –35.0 –59.1 43.0 –102.1 24.1 –19.9 –44.0 –34.9 –58.9 38.4 –2.3 40.7 –97.3 –0.4 –94.2 –86.9 –6.0 –5.7 –52.8 –4.0 –8.2 –10.3 –7.3 2.2 2.1 –2.2 –9.4 –7.4 11.9 –14.0 –8.9 15.6 24.1 88.0 99.8 42.7 57.1 –11.8 21.8 33.6 42.0 53.8 37.2 –5.4 42.6 16.6 –12.9 –2.0 19.2 –0.7 –0.6 14.2 –1.9 4.4 3.9 –21.2 –2.9 –28.4 6.2 3.9 –2.2 9.0 –1.3 20.6 5.6 –11.8 105.6 97.7 38.8 58.9 7.9 44.8 36.9 129.4 121.5 46.6 –3.4 50.1 74.9 0.1 21.7 3.4 –1.1 –0.4 19.7 2.2 –7.2 –9.9 18.4 –1.3 22.2 1.1 –3.6 5.7 7.3 7.5 8.7 23.7 7.9 269.1 229.9 38.5 191.4 39.2 79.0 39.7 302.9 263.7 50.5 –0.1 50.5 213.2 7.0 84.7 45.0 4.2 6.1 10.4 –1.6 4.9 21.1 39.6 0.3 25.6 5.8 7.9 20.8 4.5 7.0 40.7 48.5 39.2 209.2 174.7 54.6 120.1 34.4 55.9 21.5 414.4 379.9 81.3 6.6 74.7 298.6 10.4 93.1 54.9 5.9 7.4 13.3 –2.0 7.9 22.3 38.3 3.0 30.3 1.0 4.0 16.6 29.2 14.6 35.7 99.1 34.4 152.2 134.9 8.6 126.3 17.4 50.3 33.0 175.2 157.8 4.4 7.2 –2.9 153.5 24.6 57.3 23.3 0.6 4.7 8.4 12.9 –7.9 4.7 34.0 5.2 –2.8 26.8 4.7 11.5 10.6 13.1 11.1 25.3 17.4 –66.6 –157.6 –80.6 –77.0 91.0 70.1 –20.8 –54.3 –145.2 –80.2 3.9 –84.0 –65.0 –5.3 –25.9 –22.8 2.6 0.6 –6.2 –12.6 –9.6 2.4 –3.1 –2.3 1.2 –0.6 –1.3 –1.5 –11.6 –12.1 –2.1 –6.6 91.0 –181.3 –210.7 –75.4 –135.3 29.4 39.7 10.2 –305.9 –335.3 –88.9 –2.0 –86.9 –246.5 –9.0 –103.1 –65.4 –3.7 –3.7 –6.5 –3.0 –31.1 –17.4 –37.7 3.5 –11.3 –20.6 –9.4 –27.1 –43.4 –18.6 –5.6 –39.6 29.4 II 136.3 114.9 15.8 99.2 21.4 33.7 12.3 146.2 124.9 19.7 0.8 18.9 105.3 2.3 30.3 23.7 0.0 2.1 2.7 –0.2 12.3 6.8 6.5 –3.1 8.2 –1.8 3.3 8.7 16.7 4.8 8.6 33.8 21.4 39.7 55.6 2.1 53.4 –15.9 8.4 24.4 50.8 66.7 5.4 0.0 5.4 61.3 2.6 16.4 9.2 1.9 3.4 0.4 0.0 –6.6 10.3 7.2 –2.3 5.4 5.5 –1.5 8.7 –7.3 6.3 32.8 1.9 –15.9 2005 III IV 65.3 47.4 9.4 38.0 17.9 9.6 –8.4 74.7 56.8 12.3 1.0 11.3 44.4 0.6 13.2 2.9 –1.7 2.0 1.9 –2.6 –1.4 4.6 10.3 5.2 –6.1 7.5 3.9 4.3 –6.4 –7.4 18.7 21.5 17.9 –10.8 10.0 20.7 –10.8 –20.8 9.4 30.2 –3.2 17.6 23.4 1.8 21.5 –5.8 4.4 14.0 4.9 2.6 –0.9 2.5 –2.2 1.8 1.1 9.1 –4.6 27.2 –9.7 –3.8 –17.4 –1.0 –3.3 –12.5 10.0 –20.8 I 126.8 87.0 40.4 46.7 39.8 31.2 –8.6 300.1 260.3 60.6 1.0 59.7 199.7 4.3 67.5 38.3 3.3 3.2 7.9 –2.0 11.7 14.2 29.1 5.3 4.1 16.3 3.4 23.6 13.4 15.9 22.4 52.6 39.8 II 20.8 21.7 –35.3 57.0 –0.9 1.3 2.2 30.6 31.5 –33.5 2.6 –36.2 65.1 1.4 –8.0 7.2 1.0 1.0 2.1 0.2 0.0 2.9 –15.1 –2.7 3.8 –18.8 2.5 15.2 27.1 2.8 9.5 17.0 –0.9 Change from preceding period 2005 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 ............................................................................. 2006 III IV 25.7 6.0 50.4 –44.4 19.6 9.7 –10.0 39.5 19.8 51.6 1.3 50.4 –31.9 –6.8 11.7 2.9 1.8 1.8 1.4 3.7 –4.1 –1.7 8.8 1.4 5.0 1.7 0.6 –22.2 –10.2 –0.3 –7.2 3.1 19.6 77.8 93.5 –20.9 114.3 –15.5 19.8 35.5 95.5 111.1 –20.3 4.2 –24.6 131.5 16.5 18.4 9.1 –2.3 5.6 1.0 3.3 –2.8 4.4 9.3 1.6 8.8 0.3 –1.3 5.7 25.4 5.5 6.3 53.7 –15.5 I 58.4 48.8 22.3 26.6 9.5 6.5 –3.2 73.4 63.9 20.7 0.0 20.8 43.1 6.1 29.5 19.7 2.1 –1.1 –0.9 9.7 4.2 5.6 9.8 1.8 –16.1 24.2 –0.2 15.2 –11.0 9.7 –0.7 –5.6 9.5 NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS). 2007 II III IV 6.8 –1.6 5.5 –7.1 8.4 25.4 17.1 –10.5 –18.9 1.3 2.6 –1.3 –20.2 7.9 7.9 –30.4 –2.9 –0.1 9.0 –3.8 –15.1 –17.5 38.3 2.4 15.7 13.6 6.6 –3.7 –9.0 1.9 8.5 –33.8 8.4 57.4 61.7 –31.0 92.7 –4.3 5.2 9.5 51.4 55.7 –33.0 2.2 –35.2 88.7 7.7 34.1 39.2 1.4 1.4 3.5 3.5 8.3 21.2 –5.1 1.0 –5.0 1.6 –2.6 6.7 13.1 –5.0 8.2 23.9 –4.3 –65.5 –88.7 –12.1 –76.5 23.1 8.8 –14.3 –60.1 –83.2 –12.0 –0.9 –11.2 –71.2 –2.4 –51.4 –12.9 2.3 –0.8 –4.9 –0.2 –3.2 –6.1 –38.5 –0.6 –24.2 –19.2 5.5 –5.2 4.3 –0.7 –8.7 –7.1 23.1 I –54.2 –62.2 –38.7 –23.6 8.1 7.6 –0.5 –57.3 –65.4 –38.6 3.3 –41.8 –26.8 –7.1 3.9 –15.3 –1.3 0.7 –0.7 –8.6 –6.3 0.8 19.2 –4.9 18.1 10.1 –4.2 5.7 –12.8 –6.7 –1.6 –8.2 8.1 II 59.5 30.5 20.3 10.2 29.0 32.4 3.4 73.7 44.7 22.0 0.3 21.7 22.7 –4.7 27.1 –5.3 1.5 1.0 –6.5 –5.6 6.4 –2.1 32.4 5.3 32.9 –2.2 –3.5 9.1 9.3 0.1 –13.0 –5.2 29.0 2008 III –57.8 –117.1 –29.5 –87.6 59.3 31.8 –27.5 –46.2 –105.5 –28.0 –1.0 –27.1 –77.5 0.7 –72.0 –15.7 1.9 –1.7 1.1 –2.4 –16.2 1.6 –56.3 –4.2 –46.1 –7.6 1.7 –9.1 –18.5 –2.1 16.4 7.1 59.3 IV –37.7 –94.3 –76.6 –17.7 56.6 27.0 –29.6 –28.8 –85.4 –75.7 –1.0 –74.6 –9.7 3.9 21.7 7.9 0.5 –0.3 –6.1 3.1 7.9 2.8 13.8 0.5 –7.3 19.8 0.7 –31.9 –16.3 –7.5 5.5 14.9 56.6 I –39.7 –24.9 70.8 –95.7 –14.8 16.9 31.8 –191.2 –176.4 54.5 –0.6 55.1 –230.9 –18.1 –78.1 –31.8 –4.5 –1.9 9.0 –2.2 –18.3 –13.9 –46.3 –0.6 7.0 –46.0 –6.6 –29.4 –26.8 –10.5 –7.8 –60.1 –14.8 2009 II III –56.0 –10.7 –26.8 16.1 –45.3 7.9 53.1 –49.1 –3.8 –26.2 –4.8 –21.4 22.4 10.0 –27.5 –41.3 –3.6 –4.0 –12.5 1.6 –20.4 –2.4 13.9 7.9 –22.0 31.8 –3.9 10.0 4.6 –1.0 10.2 15.8 –45.3 50.9 20.7 –34.1 54.8 30.2 –15.1 –45.3 58.4 28.2 –33.3 3.5 –36.8 61.5 0.4 45.6 20.8 2.8 1.5 –1.9 –0.6 10.3 8.8 24.7 0.2 36.8 –9.1 –3.2 29.2 –3.1 –2.7 –19.9 12.3 30.2 IV –331.0 –266.1 –167.9 –98.2 –64.8 –79.4 –14.5 –322.9 –258.1 –167.2 6.5 –173.7 –90.9 –2.7 –57.1 –39.0 1.5 5.0 2.1 –5.8 –8.0 –33.9 –18.1 –6.0 0.4 –17.4 4.9 25.7 2.6 2.3 –18.3 –43.6 –64.8 I 59.1 75.7 115.9 –40.2 –16.6 –76.9 –60.4 128.3 145.0 123.6 –12.3 135.9 21.4 12.8 –27.0 6.5 0.1 –6.8 1.0 2.1 –1.4 11.6 –33.5 3.4 –50.3 7.9 5.4 –17.5 3.4 –4.8 31.8 22.8 –16.6 Table 12C. Revisions to Corporate Profits by Industry [Billions of dollars] Billions of dollars Revisions as a percent of previously published Revised estimates 2006 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 ............................................................... Nondurable goods ......................................................... Wholesale trade ................................................................ Retail trade........................................................................ Transportation and warehousing ....................................... Information ........................................................................ Other nonfinancial ............................................................. Rest of the world ..................................................................... Corporate profits before tax without inventory valuation and capital consumption adjustments ......................................... Addendum: Corporate profits after tax with inventory valuation and capital consumption adjustments...................................................... 2007 Revisions to previously published 2008 2006 2007 2008 2006 2007 2008 1,608.3 1,351.5 427.6 923.9 256.8 434.4 177.6 1,784.7 1,527.8 448.0 33.8 414.1 1,079.9 54.4 304.5 118.9 185.7 103.7 133.2 42.1 92.4 349.6 256.8 1,541.7 1,193.9 347.0 846.9 347.8 504.5 156.8 1,730.4 1,382.6 367.8 37.7 330.1 1,014.9 49.1 278.6 96.1 182.6 102.2 121.6 30.0 90.3 343.0 347.8 1,360.4 983.2 271.6 711.6 377.2 544.2 167.0 1,424.5 1,047.3 278.9 35.7 243.2 768.4 40.1 175.5 30.7 144.9 75.1 78.2 11.4 84.7 303.4 377.2 –60.2 –49.5 –34.5 –15.1 –10.7 –4.5 6.2 –49.5 –38.9 –30.8 0.0 –30.9 –8.0 –1.2 0.2 3.0 –2.7 –3.8 0.9 –0.4 1.3 –5.1 –10.7 –100.7 –103.9 –82.7 –21.2 3.1 –4.7 –7.7 –104.7 –107.9 –82.1 0.0 –82.1 –25.7 –9.4 –38.0 –31.3 –6.7 –0.4 –10.7 –12.7 –12.7 58.1 3.1 –116.1 –106.8 –30.3 –76.4 –9.4 4.8 14.2 –123.7 –114.4 –30.0 0.2 –30.2 –84.3 –14.5 –64.3 –38.3 –25.9 –1.4 –13.5 –13.3 –17.2 39.7 –9.4 –3.6 –3.5 –7.5 –1.6 –4.0 –1.0 3.6 –2.7 –2.5 –6.4 0.0 –6.9 –0.7 –2.2 0.1 2.6 –1.4 –3.5 0.7 –0.9 1.4 –1.4 –4.0 –6.1 –8.0 –19.2 –2.4 0.9 –0.9 –4.7 –5.7 –7.2 –18.2 0.0 –19.9 –2.5 –16.1 –12.0 –24.6 –3.5 –0.4 –8.1 –29.7 –12.3 20.4 0.9 –7.9 –9.8 –10.0 –9.7 –2.4 0.9 9.3 –8.0 –9.8 –9.7 0.6 –11.0 –9.9 –26.6 –26.8 –55.5 –15.2 –1.8 –14.7 –53.8 –16.9 15.1 –2.4 1,822.7 1,774.4 1,462.7 –51.0 –111.9 –134.6 –2.7 –5.9 –8.4 1,135.0 1,090.2 1,068.2 –64.6 –101.8 –41.7 –5.4 –8.5 –3.8 Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business—Continues Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 2005 I II III IV I II Billions of dollars Gross value added of nonfinancial corporate business........................................................... Consumption of fixed capital ......................................... Net value added ........................................................... Compensation of employees ..................................... Wage and salary accruals ..................................... Supplements to wages and salaries...................... Taxes on production and imports less subsidies ....... Net operating surplus ................................................ Net interest and miscellaneous payments............. Business current transfer payments (net).............. Corporate profits with inventory valuation and capital consumption adjustments ...................... Taxes on corporate income ............................... Profits after tax with inventory valuation and capital consumption adjustments .................. Net dividends ................................................ Undistributed profits with inventory valuation and capital consumption adjustments ....... Addenda: Profits before tax (without inventory valuation and capital consumption adjustments) ......................... Profits after tax (without inventory valuation and capital consumption adjustments) ......................... Inventory valuation adjustment.................................. Capital consumption adjustment ............................... 4,668.3 499.9 4,168.5 3,049.7 2,568.3 481.4 393.1 725.7 146.8 35.2 4,955.5 539.3 4,416.3 3,256.5 2,755.6 501.0 414.6 745.1 164.5 47.1 5,279.4 590.1 4,689.4 3,541.8 2,991.1 550.7 439.4 708.2 192.8 47.9 5,252.5 632.0 4,620.5 3,559.4 2,989.9 569.5 434.5 626.7 197.7 58.9 5,307.7 654.5 4,653.1 3,544.2 2,936.7 607.5 461.9 647.1 163.7 56.3 5,503.7 669.0 4,834.7 3,651.3 2,979.0 672.3 484.2 699.2 147.9 65.2 5,877.5 695.6 5,181.9 3,786.7 3,105.5 681.2 517.7 877.5 134.4 65.5 6,302.8 743.0 5,559.8 3,976.3 3,267.5 708.8 558.4 1,025.1 148.2 79.3 6,740.3 800.9 5,939.4 4,182.3 3,462.3 720.0 593.3 1,163.7 164.0 75.8 6,970.1 849.4 6,120.6 4,364.2 3,627.3 736.9 612.8 1,143.7 228.1 68.6 6,971.5 898.4 6,073.0 4,427.9 3,677.2 750.7 621.0 1,024.1 242.1 70.4 5,703.2 682.8 5,020.4 3,694.1 3,020.0 674.0 505.8 820.6 135.0 64.4 5,831.6 690.5 5,141.1 3,752.4 3,076.2 676.3 513.2 875.5 136.8 64.1 5,959.3 699.5 5,259.8 3,827.0 3,144.2 682.8 520.4 912.4 134.4 65.4 6,015.8 709.7 5,306.1 3,873.4 3,181.8 691.6 531.3 901.4 131.4 68.2 6,125.9 721.2 5,404.7 3,895.6 3,198.2 697.4 543.6 965.5 141.7 75.3 6,265.4 734.5 5,530.9 3,944.6 3,239.1 705.5 555.0 1,031.3 146.4 79.4 543.7 158.7 533.5 171.4 467.5 170.2 370.1 111.2 427.2 97.1 486.1 132.9 677.5 187.0 797.6 271.9 923.9 307.6 846.9 299.3 711.6 237.8 621.2 164.6 674.6 185.5 712.6 199.0 701.8 198.8 748.5 264.1 805.5 265.2 385.1 241.0 362.1 224.7 297.3 251.3 258.8 245.4 330.1 254.8 353.2 293.4 490.6 364.5 525.8 170.9 616.2 471.1 547.6 465.2 473.8 409.3 456.5 333.5 489.1 323.0 513.6 328.1 503.0 473.3 484.4 314.1 540.3 252.2 144.0 137.4 46.0 13.4 75.3 59.8 126.1 354.9 145.1 82.4 64.5 123.0 166.1 185.4 29.7 170.2 288.0 460.5 468.6 432.5 315.1 342.3 425.9 662.1 957.1 1,117.9 1,058.9 806.7 577.9 660.7 701.7 707.9 898.9 943.9 301.8 15.7 67.5 297.2 –4.0 68.9 262.3 –16.8 51.8 203.8 8.0 47.0 245.2 –2.6 87.5 293.0 –11.3 71.5 475.1 –34.3 49.7 568.8 –38.2 –56.8 413.3 –16.9 60.1 475.3 –38.4 52.2 502.7 –34.9 45.8 509.0 –46.9 40.8 634.8 –38.2 –112.2 678.7 –18.2 –120.2 685.3 –30.7 –128.8 810.3 –38.0 –156.0 759.5 –44.0 –167.9 Billions of chained (2005) dollars Gross value added of nonfinancial corporate business 1 ........................................................ Consumption of fixed capital 2 ....................................... Net value added 3 .......................................................... 5,123.5 5,422.5 5,707.9 5,604.6 5,629.3 5,767.4 6,040.4 6,302.8 6,536.5 6,649.4 6,675.5 5,918.9 6,008.3 6,112.4 6,121.8 6,199.3 6,305.8 519.3 565.2 616.3 659.2 683.3 698.4 717.4 743.0 773.7 808.3 837.3 709.5 714.6 719.9 725.6 731.4 738.4 4,604.2 4,857.4 5,091.6 4,945.4 4,946.0 5,069.0 5,323.0 5,559.8 5,762.9 5,841.2 5,838.2 5,209.5 5,293.7 5,392.5 5,396.3 5,467.9 5,567.4 Dollars; quarters seasonally adjusted Price, costs, and profits per unit of real gross value added of nonfinancial corporate business: Price per unit of real gross value added of nonfinancial corporate business 4 .................... Compensation of employees (unit labor cost) ........... Unit nonlabor cost ..................................................... Consumption of fixed capital ................................. Taxes on production and imports less subsidies plus business current transfer payments (net) Net interest and miscellaneous payments............. Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production) ................................................ Taxes on corporate income ................................... Profits after tax with inventory valuation and capital consumption adjustments ...................... 0.911 0.595 0.211 0.098 0.914 0.601 0.214 0.099 0.925 0.621 0.222 0.103 0.937 0.635 0.236 0.113 0.943 0.630 0.237 0.116 0.954 0.633 0.237 0.116 0.973 0.627 0.234 0.115 1.000 0.631 0.243 0.118 1.031 0.640 0.250 0.123 1.048 0.656 0.264 0.128 1.044 0.663 0.275 0.135 0.964 0.624 0.234 0.115 0.971 0.625 0.234 0.115 0.975 0.626 0.232 0.114 0.983 0.633 0.235 0.116 0.988 0.628 0.239 0.116 0.994 0.626 0.240 0.116 0.084 0.029 0.085 0.030 0.085 0.034 0.088 0.035 0.092 0.029 0.095 0.026 0.097 0.022 0.101 0.024 0.102 0.025 0.102 0.034 0.104 0.036 0.096 0.023 0.096 0.023 0.096 0.022 0.098 0.021 0.100 0.023 0.101 0.023 0.106 0.031 0.098 0.032 0.082 0.030 0.066 0.020 0.076 0.017 0.084 0.023 0.112 0.031 0.127 0.043 0.141 0.047 0.127 0.045 0.107 0.036 0.105 0.028 0.112 0.031 0.117 0.033 0.115 0.032 0.121 0.043 0.128 0.042 0.075 0.067 0.052 0.046 0.059 0.061 0.081 0.083 0.094 0.082 0.071 0.077 0.081 0.084 0.082 0.078 0.086 1. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the chain-type price index for GDP goods and structures is used. 2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided by 100. 3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital. 4. The deflator for gross value added of nonfinancial corporate business divided by 100. NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS). Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business—Table Ends Seasonally adjusted at annual rates 2005 III 2006 IV I II 2007 III IV I II 2008 III IV I II 2009 III IV I Billions of dollars Gross value added of nonfinancial corporate business........................................................... Consumption of fixed capital ......................................... Net value added ........................................................... Compensation of employees ..................................... Wage and salary accruals ..................................... Supplements to wages and salaries...................... Taxes on production and imports less subsidies ....... Net operating surplus ................................................ Net interest and miscellaneous payments............. Business current transfer payments (net).............. Corporate profits with inventory valuation and capital consumption adjustments ...................... Taxes on corporate income ............................... Profits after tax with inventory valuation and capital consumption adjustments .................. Net dividends ................................................ Undistributed profits with inventory valuation and capital consumption adjustments ....... Addenda: Profits before tax (without inventory valuation and capital consumption adjustments) ......................... Profits after tax (without inventory valuation and capital consumption adjustments) ......................... Inventory valuation adjustment.................................. Capital consumption adjustment ............................... 6,326.3 749.6 5,576.7 4,019.0 3,304.6 714.3 563.9 993.9 151.5 81.2 6,493.5 766.6 5,727.0 4,046.2 3,328.1 718.1 570.9 1,109.9 153.1 81.3 6,629.5 781.1 5,848.5 4,131.8 3,414.7 717.2 583.7 1,132.9 152.6 78.4 6,668.1 794.8 5,873.3 4,153.0 3,435.2 717.7 591.1 1,129.2 157.8 76.4 6,811.8 807.8 6,004.0 4,180.3 3,460.7 719.6 596.3 1,227.3 164.8 74.9 6,851.8 820.1 6,031.7 4,264.2 3,538.6 725.6 602.0 1,165.5 180.9 73.5 6,909.3 831.6 6,077.7 4,314.0 3,582.4 731.6 604.8 1,159.0 201.2 70.3 6,988.8 843.4 6,145.4 4,345.1 3,611.3 733.9 610.5 1,189.7 223.6 68.4 6,949.7 855.3 6,094.4 4,365.4 3,627.8 737.6 614.8 1,114.1 236.6 67.5 7,032.6 867.5 6,165.1 4,432.2 3,687.7 744.5 620.9 1,112.0 251.2 68.4 6,934.9 879.8 6,055.1 4,429.6 3,682.7 746.9 618.5 1,006.9 242.1 68.1 6,974.4 892.2 6,082.2 4,431.6 3,681.9 749.7 623.5 1,027.1 246.0 68.3 7,042.4 904.6 6,137.8 4,440.4 3,687.5 752.9 627.8 1,069.6 233.3 68.7 6,934.1 917.1 6,017.0 4,410.1 3,656.8 753.3 614.2 992.7 246.8 76.5 6,727.4 916.7 5,810.7 4,262.1 3,516.7 745.4 602.7 945.8 237.4 79.2 761.1 257.6 875.4 300.4 902.0 294.1 894.9 308.8 987.6 329.3 911.1 298.3 887.5 313.3 897.7 305.3 810.1 284.4 792.4 294.2 696.7 255.9 712.8 263.1 767.6 254.5 669.4 177.7 629.2 197.9 503.5 106.6 575.0 10.5 607.8 399.4 586.2 413.0 658.3 488.0 612.7 584.1 574.1 487.7 592.4 485.7 525.7 459.6 498.1 428.0 440.8 408.8 449.7 395.2 513.1 383.3 491.6 449.9 431.3 373.1 396.9 564.5 208.4 173.1 170.3 28.6 86.5 106.8 66.1 70.1 32.0 54.5 129.7 41.7 58.1 922.4 1,063.4 1,101.8 1,096.7 1,179.3 1,093.8 1,081.2 1,091.2 1,009.6 1,053.5 851.6 895.6 882.0 597.4 676.9 664.7 –28.4 –132.8 763.0 –38.0 –150.0 807.7 –33.4 –166.5 787.9 –48.4 –153.3 850.0 –42.3 –149.4 795.5 –28.0 –154.8 767.9 –42.2 –151.5 785.9 –29.5 –163.9 725.2 –25.3 –174.1 759.3 –79.0 –182.1 595.7 –107.9 –47.0 632.5 –129.6 –53.2 627.5 –54.5 –60.0 419.7 139.2 –67.2 478.9 81.1 –128.7 6,624.9 812.8 5,812.2 6,725.5 821.4 5,904.1 6,664.3 829.9 5,834.4 6,735.8 836.3 5,899.5 6,722.6 840.5 5,882.1 6,579.3 842.6 5,736.7 6,300.9 844.0 5,456.9 Billions of chained (2005) dollars Gross value added of nonfinancial corporate business 1 ........................................................ Consumption of fixed capital 2 ....................................... Net value added 3 .......................................................... 6,284.1 746.4 5,537.7 6,421.9 755.6 5,666.4 6,505.1 762.2 5,743.0 6,480.0 769.4 5,710.5 6,567.2 777.3 5,789.9 6,593.8 785.8 5,808.0 6,597.4 794.9 5,802.5 6,649.8 803.9 5,845.9 Dollars 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 ...................... 1.007 0.640 0.246 0.119 1.011 0.630 0.245 0.119 1.019 0.635 0.245 0.120 1.029 0.641 0.250 0.123 1.037 0.637 0.250 0.123 1.039 0.647 0.253 0.124 1.047 0.654 0.258 0.126 1.051 0.653 0.263 0.127 1.049 0.659 0.268 0.129 1.046 0.659 0.268 0.129 1.041 0.665 0.271 0.132 1.035 0.658 0.272 0.132 1.048 0.661 0.274 0.135 1.054 0.670 0.282 0.139 1.068 0.676 0.291 0.145 0.103 0.024 0.102 0.024 0.102 0.023 0.103 0.024 0.102 0.025 0.102 0.027 0.102 0.030 0.102 0.034 0.103 0.036 0.102 0.037 0.103 0.036 0.103 0.037 0.104 0.035 0.105 0.038 0.108 0.038 0.121 0.041 0.136 0.047 0.139 0.045 0.138 0.048 0.150 0.050 0.138 0.045 0.135 0.047 0.135 0.046 0.122 0.043 0.118 0.044 0.105 0.038 0.106 0.039 0.114 0.038 0.102 0.027 0.100 0.031 0.080 0.090 0.093 0.090 0.100 0.093 0.087 0.089 0.079 0.074 0.066 0.067 0.076 0.075 0.068 1. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the chain-type price index for GDP goods and structures is used. 2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided by 100. 3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital. 4. The deflator for gross value added of nonfinancial corporate business divided by 100. NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS). Appendix Table A. Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period Seasonally adjusted at annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2004 I Gross domestic product (GDP) and related aggregates: GDP................................................................................... Goods................................................................................ Services ............................................................................ Structures .......................................................................... Motor vehicle output .......................................................... GDP excluding motor vehicle output ................................. Final sales of computers 1 ................................................. GDP excluding final sales of computers............................ Farm gross value added 2 ................................................. Nonfarm business gross value added 3 ............................. 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 ............... 2005 II III IV I II 4.4 5.8 3.4 5.2 8.2 4.2 43.0 4.0 –4.3 5.1 4.8 7.0 3.8 4.1 9.6 4.6 43.2 4.5 4.9 5.6 4.1 4.9 3.8 3.6 –1.5 4.4 30.6 3.9 14.8 4.4 1.1 –1.6 2.6 0.7 –4.4 1.3 12.9 1.0 –7.0 0.9 1.8 1.7 2.5 –2.5 11.5 1.5 3.1 1.8 4.4 1.9 2.5 3.4 1.9 3.3 1.1 2.5 16.3 2.4 12.8 3.0 3.6 5.1 2.7 4.9 4.0 3.6 4.9 3.6 7.0 4.1 3.1 4.4 2.5 2.9 4.0 3.0 18.4 3.0 4.2 3.4 2.7 5.2 2.3 –1.6 –1.2 2.8 25.2 2.5 –2.8 3.1 2.1 3.7 2.6 –4.4 –1.3 2.2 22.1 2.0 –7.6 2.3 0.4 0.4 1.5 –5.9 –18.4 1.0 21.3 0.3 12.9 –0.1 2.8 1.7 3.7 0.6 3.2 2.8 –22.4 3.1 123.2 2.6 2.9 2.5 1.9 10.4 –6.0 3.2 –0.9 2.9 –32.9 3.9 3.0 5.0 2.4 0.8 20.0 2.4 5.7 3.0 18.7 2.9 3.5 5.7 3.3 –0.9 –1.2 3.7 29.9 3.4 42.3 3.5 4.1 6.7 2.6 5.5 1.4 4.1 7.7 4.0 –16.8 4.8 1.7 0.3 1.9 4.7 6.5 1.6 33.3 1.5 14.9 1.6 1.1 1.2 1.5 0.7 1.0 1.5 1.6 1.8 1.6 1.5 2.2 2.2 2.4 2.5 2.0 2.3 2.0 2.5 1.9 1.8 1.6 1.8 1.8 1.4 1.7 2.2 2.1 2.3 2.3 2.0 2.8 2.8 2.9 3.0 2.7 3.3 3.5 3.5 3.7 3.3 3.3 3.3 3.4 3.4 3.2 2.9 2.8 3.0 2.9 2.7 2.1 2.3 2.2 3.2 2.6 3.5 3.5 3.5 4.1 3.5 3.5 3.5 3.5 3.6 3.5 3.0 3.1 3.1 3.2 3.0 3.0 3.2 3.1 3.8 3.0 3.8 4.2 3.9 3.7 4.1 2.7 3.0 2.9 3.2 3.0 1.2 1.0 1.4 0.6 1.1 2.0 1.6 1.5 1.4 1.2 2.8 2.5 1.7 2.4 1.5 2.2 1.9 1.8 1.9 1.8 1.7 1.4 1.7 1.1 1.5 2.5 2.0 1.5 2.0 1.4 3.2 2.6 2.1 2.4 1.7 3.9 3.0 2.3 2.8 2.0 3.6 2.7 2.3 2.8 2.2 3.1 2.7 2.4 2.5 2.1 3.3 3.3 2.4 3.4 2.3 4.2 3.4 2.4 3.2 2.1 3.7 3.0 2.6 2.6 2.1 3.4 2.5 2.0 2.1 1.4 4.0 3.3 1.8 3.5 1.9 3.8 2.4 2.9 2.0 2.5 3.3 2.5 2.2 2.3 1.8 Seasonally adjusted at annual rates 2005 III Gross domestic product (GDP) and related aggregates: GDP................................................................................... Goods................................................................................ Services ............................................................................ Structures .......................................................................... Motor vehicle output .......................................................... GDP excluding motor vehicle output ................................. Final sales of computers 1 ................................................. GDP excluding final sales of computers............................ Farm gross value added 2 ................................................. Nonfarm business gross value added 3 ............................. 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 ............... 2006 IV I 2007 2008 II III IV I II III IV I II 2009 III IV I II 3.1 4.4 3.1 –0.3 23.5 2.4 17.5 3.0 5.7 3.7 2.1 5.1 0.8 1.7 –27.0 3.3 35.0 1.9 –11.3 2.4 5.4 11.8 3.4 0.9 14.4 5.1 33.3 5.2 –26.6 6.8 1.4 1.8 2.0 –2.5 –7.6 1.8 19.1 1.3 71.6 1.0 0.1 0.0 2.0 –9.8 4.0 0.0 12.5 0.0 –26.2 –0.1 3.0 7.2 3.6 –10.5 –10.2 3.4 22.4 2.8 –13.2 4.2 1.2 –0.8 2.7 –2.2 –0.8 1.3 3.1 1.2 –6.4 0.9 3.2 6.2 2.1 2.3 6.2 3.1 28.4 3.1 –14.5 3.7 3.6 7.2 3.1 –2.1 3.5 3.6 60.9 3.3 –15.0 3.9 2.1 7.6 1.8 –9.4 –10.3 2.5 33.7 2.0 34.6 1.8 –0.7 –1.8 1.5 –10.7 –21.6 –0.1 9.8 –0.8 40.7 –1.7 1.5 1.5 1.5 1.3 –36.2 2.6 29.1 1.3 –15.8 1.3 –2.7 –7.0 –0.4 –5.5 –6.6 –2.6 –3.6 –2.7 24.4 –4.0 –5.4 –16.4 0.7 –12.9 –50.5 –4.1 2.9 –5.4 27.9 –7.6 –6.4 –8.7 –0.9 –34.0 –64.5 –4.9 11.2 –6.5 –3.3 –8.8 –1.0 –4.1 1.4 –9.9 14.6 –1.2 –6.5 –1.0 –10.1 –1.7 4.2 3.4 4.3 5.0 3.1 3.4 4.0 3.5 4.1 3.6 3.0 3.2 3.1 2.8 3.1 3.6 3.6 3.8 3.6 3.5 3.1 2.5 3.2 2.9 2.5 1.8 2.4 1.9 1.0 2.4 4.2 3.8 4.3 4.2 3.6 2.7 2.2 2.8 3.1 2.2 1.6 1.9 1.8 2.2 2.1 2.3 3.2 2.5 4.6 3.3 1.9 2.4 2.0 3.4 2.7 1.8 2.2 2.0 3.9 3.0 4.0 2.9 4.1 4.3 2.9 0.1 –0.8 0.2 –3.8 –0.6 1.9 0.5 1.9 –1.4 0.2 0.2 1.1 0.3 0.7 1.1 5.2 4.6 1.6 4.8 1.4 4.3 3.6 2.7 3.6 2.5 3.0 1.7 2.0 1.8 2.1 3.8 3.0 2.9 3.0 2.9 3.0 3.0 2.3 3.1 2.3 1.1 –0.1 2.1 –0.7 1.6 4.3 3.7 2.8 3.6 2.5 3.2 3.2 1.8 3.3 1.6 2.3 2.3 2.3 1.8 1.6 4.7 5.1 3.1 5.2 2.8 3.5 3.7 2.4 4.0 2.6 4.0 3.9 2.4 4.0 2.3 4.4 4.7 2.6 5.1 2.7 –3.8 –5.0 0.8 –5.3 1.5 –1.4 –1.5 1.1 –1.2 1.9 0.9 1.3 2.0 1.5 2.3 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. Explanatory Note: NIPA Measures of Quantities and Prices Current-dollar GDP is a measure of the market value of goods, services, and structures produced in the economy in a particular period. Changes in current-dollar GDP can be decomposed into quantity and price components. Quantities, or “real” measures, and prices are expressed as index numbers with the reference year -- at present, the year 2005 -- equal to 100. Annual changes in quantities and prices are calculated using a Fisher formula that incorporates weights from two adjacent years. (Quarterly changes in quantities and prices are calculated using a Fisher formula that incorporates weights from two adjacent quarters; quarterly indexes are adjusted for consistency to the annual indexes before percent changes are calculated.) For example, the 2007-08 annual percent change in real GDP uses prices for 2007 and 2008 as weights, and the 2007-08 annual percent change in GDP prices uses quantities for 2007 and 2008 as weights. These annual changes are “chained” (multiplied) together to form time series of quantity and price indexes. Percent changes in Fisher indexes are not affected by the choice of reference year. (BEA also publishes a measure of the price level known as the implicit price deflator (IPD), which is calculated as the ratio of the current-dollar value to the corresponding chained-dollar value, multiplied by 100. The values of the IPD are very close to the values of the corresponding "chain-type" price index.) Index numbers of quantity and price indexes for GDP and its major components are presented in this release in tables 5 and 6. Percent changes from the preceding period are presented in tables 1, 4, 7, 8, and appendix table A. Contributions by major components to the percent change in real GDP are presented in table 2. Measures of real GDP and its major components are also presented in dollar-denominated form, designated "chained (2005) dollar estimates." For most series, these estimates, which are presented in table 3, are computed by multiplying the current-dollar value in 2005 by a corresponding quantity index number and then dividing by 100. For example, if a current-dollar GDP component equaled $100 in 2005 and if real output for this component increased 10 percent in 2006, then the chained (2005) dollar value of this component in 2006 would be $110 (= $100 x 110 / 100). Percent changes calculated from chained-dollar estimates and from chain-type quantity indexes are the same; any differences will be small and due to rounding. Chained-dollar values for the detailed GDP components will not necessarily sum to the chained-dollar estimate of GDP (or to any intermediate aggregate). This is because the relative prices used as weights for any period other than the reference year differ from those of the reference year. A measure of the extent of such differences is provided by a “residual” line, which indicates the difference between GDP (or other major aggregate) and the sum of the most detailed components in the table. For periods close to the reference year, when there usually has not been much change in the relative prices that are used as weights, the residuals tend to be small, and the chained-dollar estimates can be used to approximate the contributions to growth and to aggregate the detailed estimates. For periods further from the reference year, the residuals tend to be larger, and the chained-dollar estimates are less useful for analyses of contributions to growth. Thus, the contributions to percent change shown in table 2 provide a better measure of the composition of GDP growth. In particular, for components for which relative prices are changing rapidly, calculation of contributions using chained-dollar estimates may be misleading even just a few years from the reference year. Reference: “Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes,” November 2003 Survey, pp. 8-16.
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