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NEWS RELEASE
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, WEDNESDAY, JULY 30, 2014
BEA 14-34
Lisa Mataloni:
Jeannine Aversa:
(202) 606-5304 (GDP) gdpniwd@bea.gov
(202) 606-2649 (News Media)
Nicole Mayerhauser: (202) 606-9715 (Revision)
Brent Moulton:
(202) 606-9606
NATIONAL INCOME AND PRODUCT ACCOUNTS
GROSS DOMESTIC PRODUCT: SECOND QUARTER 2014 (ADVANCE ESTIMATE)
ANNUAL REVISION: 1999 THROUGH FIRST QUARTER 2014
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 4.0 percent in the second quarter of 2014,
according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter,
real GDP decreased 2.1 percent (revised).
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
and "Comparisons of Revisions to GDP" on page 10). The "second" estimate for the second quarter,
based on more complete data, will be released on August 28, 2014.
The increase in real GDP in the second quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), private inventory investment, exports, nonresidential fixed
investment, state and local government spending, and residential fixed investment. Imports, which are a
subtraction in the calculation of GDP, increased.
Annual Revision of the National Income and Product Accounts
The estimates released today reflect the results of the annual revision of the national income and
product accounts (NIPAs) in conjunction with the "advance" estimate of GDP for the second quarter of
2014. In addition to the regular revision of estimates for the most recent 3 years and the first quarter of
2014, GDP and select components were revised back to the first quarter of 1999 (see the Technical
Note). More information is available in "Preview of Upcoming NIPA Revision" in the May Survey of
Current Business and on BEA's Web site. The August Survey will contain an article describing the
annual revision in detail.
NOTE. Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent
changes are calculated from unrounded data and are annualized. "Real" estimates are in chained (2009)
dollars. Price indexes are chain-type measures.
This news release is available on BEA's Web site along with the Technical Note and Highlights
related to this release.
Real GDP increased 4.0 percent in the second quarter, after decreasing 2.1 percent in the first.
This upturn in the percent change in real GDP primarily reflected upturns in private inventory
investment and in exports, an acceleration in PCE, an upturn in state and local government spending, an
acceleration in nonresidential fixed investment, and an upturn in residential fixed investment that were
partly offset by an acceleration in imports.
The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.9 percent in the second quarter, compared with an increase of 1.4 percent in the first.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent,
compared with an increase of 1.3 percent.
Real personal consumption expenditures increased 2.5 percent in the second quarter, compared
with an increase of 1.2 percent in the first. Durable goods increased 14.0 percent, compared with an
increase of 3.2 percent. Nondurable goods increased 2.5 percent; it was unchanged in the first quarter.
Services increased 0.7 percent in the second quarter, compared with an increase of 1.3 percent in the
first.
Real nonresidential fixed investment increased 5.5 percent in the second quarter, compared with
an increase of 1.6 percent in the first. Investment in nonresidential structures increased 5.3 percent,
compared with an increase of 2.9 percent. Investment in equipment increased 7.0 percent, in contrast to
a decrease of 1.0 percent. Investment in intellectual property products increased 3.5 percent, compared
with an increase of 4.6 percent. Real residential fixed investment increased 7.5 percent, in contrast to a
decrease of 5.3 percent.
Real exports of goods and services increased 9.5 percent in the second quarter, in contrast to a
decrease of 9.2 percent in the first. Real imports of goods and services increased 11.7 percent,
compared with an increase of 2.2 percent.
Real federal government consumption expenditures and gross investment decreased 0.8 percent
in the second quarter, compared with a decrease of 0.1 percent in the first. National defense increased
1.1 percent, in contrast to a decrease of 4.0 percent. Nondefense decreased 3.7 percent, in contrast to an
increase of 6.6 percent. Real state and local government consumption expenditures and gross
investment increased 3.1 percent, in contrast to a decrease of 1.3 percent.
The change in real private inventories added 1.66 percentage points to the second-quarter change
in real GDP after subtracting 1.16 percentage points from the first-quarter change. Private businesses
increased inventories $93.4 billion in the second quarter, following increases of $35.2 billion in the first
quarter and $81.8 billion in the fourth quarter of 2013.
Real final sales of domestic product -- GDP less change in private inventories -- increased 2.3
percent in the second quarter, in contrast to a decrease of 1.0 percent in the first.
Gross domestic purchases
Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 4.5 percent in the second quarter, in contrast to a decrease of 0.4 percent in the
first.
-2-
Disposition of personal income
Current-dollar personal income increased $208.0 billion in the second quarter, compared with an
increase of $176.6 billion in the first. The acceleration in personal income primarily reflected an upturn
in personal dividend income and a smaller decrease in farm proprietors' income that were partly offset
by a deceleration in wages and salaries.
Personal current taxes increased $15.2 billion in the second quarter, compared with an increase
of $24.4 billion in the first.
Disposable personal income increased $192.7 billion, or 6.2 percent, in the second quarter,
compared with an increase of $152.1 billion, or 4.9 percent, in the first. Real disposable personal
income increased 3.8 percent in the second quarter, compared with an increase of 3.5 percent in the first.
Personal outlays increased $138.8 billion in the second quarter, compared with an increase of
$76.1 billion in the first.
Personal saving -- disposable personal income less personal outlays -- was $682.9 billion in the
second quarter, compared with $629.0 billion in the first.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was
5.3 percent in the second quarter, compared with 4.9 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 financial accounts of the United States and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.
Current-dollar GDP
Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
6.0 percent, or $250.7 billion, in the second quarter to a level of $17,294.7 billion. In the first quarter,
current-dollar GDP decreased 0.8 percent, or $34.3 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." For information on revisions, see
"Revisions to GDP, GDI, and Their Major Components."
-3-
Revisions for the first quarter of 2014
For the first quarter of 2014, real GDP is now estimated to have declined 2.1 percent; in the
previously published estimates, first-quarter GDP was estimated to have declined 2.9 percent. The 0.8percentage point upward revision to the percent change in first-quarter real GDP primarily reflected
upward revisions to private inventory investment, to nonresidential fixed investment, and to PCE.
Previous Estimate
Revised
-2.9
-1.7
-2.6
1.3
-2.1
-0.8
-0.7
1.4
Real GDP………………………….…..
Current-dollar GDP……………………
Real GDI……………………………....
Gross domestic purchases price index…
-Continued -
-4-
Revision of the National Income and Product Accounts
The revised estimates reflect the results of the annual revision of the national income and product
accounts (NIPAs). In addition to the regular revision of estimates for the most recent 3 years and the
first quarter of 2014, this "flexible" annual revision results in revisions to current-dollar GDP beginning
with the first quarter of 1999. 1 The reference year remains 2009. When the estimates for the reference
year (2009) are revised, the levels of the related index numbers and chained-dollar estimates are also
revised for the entire historical period; revisions to percent changes before the first quarter of 1999 are
small and mostly due to rounding.
Because of the additional data shown, tables 3, 11, and 12 of this release are each divided into
two separate tables -- 3A and 3B, 11A and 11B, and 12A and 12B. There are also a number of special
tables that compare the revised and previously published statistics for select periods:
•
Table 1A shows the percent change in real GDP and related measures; table 1B shows revisions
to current-dollar GDP, to national income, and to personal income; table 2A shows contributions
to the percent change in real GDP; and table 4A shows the percent change in the chain-type price
indexes for GDP and related measures.
•
Tables 7A and 7B show annual levels, percent changes, and revisions to percent changes for
current-dollar GDP and for real (chained-dollar) GDP, respectively.
•
Table 12C shows revisions to corporate profits by industry.
With the release of the annual revision, statistics for select NIPA tables will be available on
BEA's Web site (www.bea.gov). Shortly after the GDP release, BEA will post a table on its Web site
showing the major current-dollar revisions and their sources for each component of GDP, national
income, and personal income. Additionally, the August 2014 Survey of Current Business will contain an
article describing these revisions. That issue will also contain an analysis of the current quarterly
estimate of GDP and related series ("GDP and the Economy").
Revisions to real GDP
For this annual revision, the most notable revisions are generally limited to the period from 2011
through the first quarter of 2014 and largely reflect the incorporation of newly available and revised
source data for the underlying components (see the box below). The revisions for earlier periods are
small.
•
For 2011–2013, real GDP increased at an average annual rate of 2.0 percent; in the previously
published estimates, real GDP had increased at an average annual rate of 2.2 percent. From the
fourth quarter of 2010 to the first quarter of 2014, real GDP increased at an average annual rate
of 1.8 percent, the same rate as in the previously published estimates.
1
BEA's plans to undertake "flexible" annual revisions that include revisions for longer periods than the
traditional three-year period were described in the June 2008 Survey of Current Business at
www.bea.gov/scb.
-5-
•
The percent change in real GDP was revised down 0.2 percentage point for 2011, was revised
down 0.5 percentage point for 2012, and was revised up 0.3 percentage point for 2013.
o For 2011, the largest contributors to the downward revision to the percent change in real
GDP were a downward revision to personal consumption expenditures (PCE) and an
upward revision to imports.
o For 2012, the largest contributors to the downward revision were downward revisions to
PCE and to state and local government spending.
o For 2013, the largest contributors to the upward revision were upward revisions to PCE
and to state and local government spending; these revisions were partly offset by a
downward revision to private inventory investment.
•
The revisions to the annual estimates for 2012 and 2013 reflect partly offsetting revisions to the
quarters within the year. For 2012, the annual rate of change in GDP was revised down 1.4
percentage points for the first quarter and was revised down 0.3 percentage point for the third
quarter, while the growth rate for the second quarter was revised up 0.4 percentage point; the
growth rate for the fourth quarter was unrevised. The upward revision to the percent change in
real GDP for 2013 reflects upward revisions to the first, third, and fourth quarters that were
partly offset by a downward revision to the second quarter.
•
For the first quarter of 2011 through the first quarter of 2014, the average revision (without
regard to sign) to the percent change in real GDP was 0.6 percentage point. The revisions did
not change the direction of the change in real GDP (increase or decrease) for any of the quarters.
•
For the expansion from the second quarter of 2009 to the first quarter of 2014, real GDP
increased at an average annual rate of 2.1 percent, the same rate as in the previously published
estimates.
•
Current-dollar GDP was revised down for all 3 years: $15.9 billion, or 0.1 percent, for 2011;
$81.4 billion, or 0.5 percent, for 2012; and $31.6 billion, or 0.2 percent, for 2013.
Revisions to price measures
•
Gross domestic purchases -- From the fourth quarter of 2010 to the first quarter of 2014, the
average annual rate of increase in the price index for gross domestic purchases was revised up
from 1.6 percent to 1.7 percent.
•
Personal consumption expenditures -- From the fourth quarter of 2010 to the first quarter of
2014, the average annual rate of increase in the price index for PCE was 1.7 percent, the same
rate as in the previously published estimates; the increase in the "core" PCE price index (which
excludes food and energy) was revised up from 1.5 percent to 1.6 percent.
-6-
Revisions to income and saving measures
•
National income was revised down $43.4 billion, or 0.3 percent, for 2011, was revised up $97.9
billion, or 0.7 percent, for 2012, and was revised up $34.7 billion, or 0.2 percent, for 2013.
o For 2011, downward revisions to corporate profits and to nonfarm proprietors' income
were partly offset by an upward revision to net interest.
o For 2012, upward revisions to net interest, to nonfarm proprietors' income, and to
corporate profits were partly offset by a downward revision to supplements to wages and
salaries.
o For 2013, upward revisions to nonfarm proprietors' income and to net interest were partly
offset by downward revisions to farm proprietors' income and to wages and salaries.
•
Corporate profits was revised down $61.1 billion, or 3.3 percent, for 2011, was revised up $13.3
billion, or 0.7 percent, for 2012, and was revised up $4.8 billion, or 0.2 percent, for 2013.
•
Personal income was revised up $10.7 billion, or 0.1 percent, for 2011, was revised up $143.9
billion, or 1.0 percent, for 2012, and was revised up $32.2 billion, or 0.2 percent, for 2013.
•
For 2011–2013, the average annual rate of growth of real disposable personal income was
revised up 0.1 percentage point from 1.7 percent to 1.8 percent.
•
The personal saving rate (personal saving as a percentage of disposable personal income) was
revised up from 5.7 percent to 6.0 percent for 2011, was revised up from 5.6 percent to 7.2
percent for 2012, and was revised up from 4.5 percent to 4.9 percent for 2013.
Gross domestic income (GDI) and the statistical discrepancy
•
For 2011–2013, real GDI increased at an average annual rate of 2.6 percent; in the previously
published estimates, real GDI had increased at an average annual rate of 2.5 percent. From the
fourth quarter of 2010 to the first quarter of 2014, real GDI increased at an average annual rate of
2.2 percent; in the previously published estimates, real GDI had increased at an average annual
rate of 2.1 percent.
•
The statistical discrepancy is current-dollar GDP less current-dollar GDI. GDP measures final
expenditures -- the sum of consumer spending, private investment, net exports, and government
spending. GDI measures the incomes earned in the production of GDP. In concept, GDP is
equal to GDI. In practice, they differ because they are estimated using different source data and
different methods.
•
As a result of the annual revision, the statistical discrepancy as a percentage of GDP was revised
up from -0.3 percent to -0.2 percent for 2011, was revised down from -0.1 percent to -1.3 percent
for 2012, and was revised down from -0.8 percent to -1.3 percent for 2013.
-7-
New and revised source data
This annual revision incorporated data from the following major federal statistical sources:
Source Data Agency
Data
Annual surveys of merchant wholesale trade
Annual surveys of retail trade
Monthly indicators of manufactures, merchant wholesale
trade, and retail trade
Service annual survey
Census Bureau
Annual surveys of state and local government finances
Monthly survey of construction spending (value put in
place)
Quarterly services survey
Current population survey/housing vacancy survey
Office of Management and
Budget
Federal Budget
Tabulations of tax returns for corporations
Internal Revenue Service
BLS
Department of Agriculture
BEA
Tabulations of tax returns for sole proprietorships and
partnerships
Quarterly census of employment and wages
Survey of occupational employment
Farm statistics
International transactions accounts
Years Covered by Data and
Vintage of Data
2011 (revised)
2012 (new)
2011–2013 (revised)
2011 and 2012 (revised)
2013 (new)
Fiscal year (FY) 2011 (revised)
FY 2012 (new)
2011–2013 (revised)
2011–2013 (revised)
2011 and 2012 (revised)
2013 (new)
FY 2013 and 2014 (revised)
2011 (revised)
2012 (new)
2012 (new)
2011–2013 ( revised)
2012 (new)
2011–2013 (revised)
1999–2013 (revised)
Changes in methodology and presentation
The annual revision also incorporated improvements to estimating methodologies and to the
presentation of the NIPA estimates, including the following:
•
Beginning with the estimates for 1999, the presentation of foreign transactions in the NIPAs is
changed to reflect the comprehensive restructuring of BEA's international transactions accounts
(ITAs), released in June. The new presentation of both goods and services in the foreign
transactions tables is consistent with the corresponding items in the ITAs. The definition of
exports and imports of travel is broadened to include travel for health and for education and
expenditures by short-term workers; these services had previously been included in the exports
and imports of "other" private services. The new presentation of foreign transactions enhances
the quality and the usefulness of BEA's international accounts statistics and brings them into
closer alignment with new international statistical guidelines.
•
The presentation of the pension sector is expanded to include a table of transactions of defined
contribution pension plans and a table that presents transactions of both defined benefit and
-8-
defined contribution pension plans. (Tables presenting the transactions associated with defined
benefit pension plans were introduced in last year's comprehensive revision.)
*
*
*
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 28, 2014 at 8:30 A.M. EDT for:
Gross Domestic Product: Second Quarter 2014 (Second Estimate)
Corporate Profits: Second Quarter 2014 (Preliminary Estimate)
-9-
Comparisons of Revisions to GDP
Quarterly estimates of GDP are released on the following schedule: "Advance" estimates, based on source
data that are incomplete or subject to further revision by the source agency, are released near the end of the first
month after the end of the quarter; as more detailed and more comprehensive data become available, "second" and
"third" estimates are released near the end of the second and third months, respectively. The "latest" estimates
reflect the results of the 2013 comprehensive revision; the results of the 2014 annual revision will be incorporated
at a later date.
Annual revisions, which generally 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 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 1.3 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 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-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.......
.3
1.3
1.0
Real GDP
Advance to second.....
Advance to third.........
Second to third............
0.1
.1
.0
0.5
.6
.2
0.4
.4
.2
Advance to latest........
.3
1.3
1.0
NOTE. These comparisons are based on the period from 1983 through 2010.
- 10 -
Table 1. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Gross domestic product (GDP) ....................
2.5
1.6
2.3
2.2
2.5
Personal consumption expenditures ......................
1.9
2.3
1.8
2.4
4.2
Goods......................................................................
3.4
3.1
2.8
3.4
7.6
Durable goods .....................................................
6.1
6.1
7.3
6.7 12.9
Nondurable goods ...............................................
2.2
1.8
0.7
1.9
5.2
Services ..................................................................
1.2
1.8
1.3
1.9
2.5
Gross private domestic investment ........................ 12.9
5.2
9.2
4.9 –3.5
Fixed investment .....................................................
1.5
6.3
8.3
4.7
8.5
Nonresidential .....................................................
2.5
7.7
7.2
3.0
8.6
Structures ........................................................ –16.4
2.3 13.1 –0.5
7.7
Equipment ....................................................... 15.9 13.6
6.8
4.6 11.8
Intellectual property products ..........................
1.9
3.6
3.9
3.4
5.0
Residential........................................................... –2.5
0.5 13.5 11.9
7.9
Change in private inventories.................................. .......... .......... .......... .......... ..........
Net exports of goods and services ......................... .......... .......... .......... .......... ..........
Exports.................................................................... 11.9
6.9
3.3
3.0 12.8
Goods.................................................................. 14.4
6.5
3.7
2.8 12.0
Services ..............................................................
6.8
7.6
2.4
3.6 14.7
Imports.................................................................... 12.7
5.5
2.3
1.1
2.6
Goods.................................................................. 14.9
5.8
2.1
0.9
2.7
Services ..............................................................
3.8
4.0
3.4
2.2
1.9
Government consumption expenditures and
gross investment...................................................
0.1 –3.0 –1.4 –2.0 –4.1
Federal ....................................................................
4.4 –2.7 –1.8 –5.7 –2.7
National defense .................................................
3.2 –2.3 –3.3 –6.6 –3.5
Nondefense .........................................................
6.4 –3.4
1.0 –4.1 –1.2
State and local ........................................................ –2.7 –3.3 –1.2
0.5 –5.0
Addenda:
Final sales of domestic product...............................
1.1
1.7
2.2
2.2
4.2
Gross domestic purchases......................................
2.9
1.6
2.2
1.9
1.4
Final sales to domestic purchasers.........................
1.5
1.7
2.1
1.9
3.0
Gross domestic income (GDI) 1 ..............................
2.7
2.2
3.4
2.2
1.8
Gross national product (GNP).................................
2.8
1.8
2.1
2.2
2.9
Disposable personal income ...................................
1.0
2.5
3.0 –0.2
2.8
Current-dollar measures:
GDP.....................................................................
3.8
3.7
4.2
3.7
4.7
Final sales of domestic product...........................
2.3
3.8
4.0
3.7
6.4
Gross domestic purchases..................................
4.5
4.0
3.9
3.3
3.7
Final sales to domestic purchasers.....................
3.0
4.2
3.8
3.2
5.3
GDI......................................................................
4.0
4.3
5.2
3.7
3.9
GNP.....................................................................
4.1
3.9
4.0
3.7
5.0
Disposable personal income ...............................
2.7
5.0
4.9
1.0
5.0
2011
I
II
2012
III
IV
I
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
–1.5
2.9
0.8
4.6
2.3
1.6
2.5
0.1
2.7
1.8
4.5
3.5 –2.1 4.0
2.0
0.8
1.8
1.4
2.8
1.3
1.9
1.9
3.6
1.8
2.0
3.7 1.2 2.5
2.9 –0.8
0.9
3.9
4.7
1.3
3.2
2.9
5.9
1.3
3.5
3.7 1.0 6.2
5.2 –2.6
5.2 12.0 10.7
2.3
8.0
9.1
8.5
4.5
4.9
5.7 3.2 14.0
1.9
0.1 –1.0
0.5
2.0
0.8
1.1
0.1
4.8 –0.2
2.8
2.7 0.0 2.5
1.6
1.6
2.2
0.1
1.8
1.3
1.3
1.4
2.4
2.0
1.3
3.7 1.3 0.7
–7.2 16.4
1.1 32.1
6.9
5.8
1.6 –5.3
7.6
6.9 16.8
3.8 –6.9 17.0
–0.9
8.2 17.3
9.9
9.1
4.4
3.1
6.6
2.7
4.9
6.6
6.3 0.2 5.9
–0.9
8.8 19.4
9.5
5.8
4.4
0.8
3.6
1.5
1.6
5.5 10.4 1.6 5.5
–27.1 30.6 25.6 13.8 18.7 10.5 –1.4 –6.7 –11.5
7.3 11.2 12.8 2.9 5.3
12.1
4.4 27.7
9.4
3.6
1.0
0.7
8.1
4.8
1.5
4.7 14.1 –1.0 7.0
1.4
3.2
5.1
6.8
0.7
5.1
2.6
5.1
6.5 –2.0
2.8
3.6 4.6 3.5
–0.8
5.4
8.1 11.7 25.5
4.3 14.1 20.4
7.8 19.0 11.2 –8.5 –5.3 7.5
.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ........ ........
.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ........ ........
2.1
6.2
4.3
4.1
1.3
4.8
2.1
1.5 –0.8
6.3
5.1 10.0 –9.2 9.5
2.8
5.0
3.4
8.1
1.5
5.3
2.0 –3.1 –0.9
8.3
5.7 13.6 –11.9 12.9
0.6
9.3
6.2 –4.7
0.9
3.7
2.3 12.7 –0.8
2.0
3.6
2.3 –2.8 2.3
3.1
3.0
3.3
4.5
1.7
4.0 –0.6 –3.5 –0.3
8.5
0.6
1.3 2.2 11.7
5.3
0.8
2.2
5.5
2.0
4.0 –1.1 –4.8
0.5
8.5
0.1
0.9 2.5 13.3
–7.4 15.3
8.7
0.0
0.8
4.0
2.4
3.4 –4.1
8.5
2.8
3.5 1.0 4.2
–7.5
–10.6
–14.0
–4.3
–5.3
–0.4 –2.5
1.6 –4.0
6.7
1.9
–6.9 –14.0
–1.8 –1.4
–1.6
–2.6
–9.5
11.4
–0.8
–2.7
–3.0
–7.4
5.3
–2.6
–0.4
–0.9
–1.3
–0.4
0.0
2.7 –6.0 –3.9
7.5 –13.0 –9.9
11.9 –20.1 –10.9
0.4
0.6 –8.2
–0.6 –0.8
0.3
0.2
–3.5
–2.1
–5.8
2.7
0.2 –3.8 –0.8 1.6
–1.2 –10.4 –0.1 –0.8
0.4 –11.4 –4.0 1.1
–3.9 –8.6 6.6 –3.7
1.1
0.6 –1.3 3.1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
–0.6
–1.2
–0.4
0.5
–1.2
5.0
1.9
2.5
1.5
1.9
2.9
–0.6
3.0
0.8
2.9
2.6
1.4
2.1
1.8
4.6
1.9
3.3
4.9
0.2
2.5
2.3
2.5
7.2
1.3
6.8
1.4
1.6
1.4
0.6
1.4
2.3
2.7
2.0
2.2
1.3
2.1
–0.4
1.9
2.0
–0.7
2.7
1.0
2.0
4.2
1.4
0.3
2.3
11.8 –12.6
1.5
2.2
1.9
2.7
1.9
3.8
3.0
3.8
2.3
1.9
4.8
2.0
3.9
2.3
2.7
1.8
3.7
0.2
–1.0 2.3
–0.4 4.5
0.7 2.8
–0.7 ........
–2.8 ........
3.5 3.8
27
28
29
30
31
32
0.2
1.2
1.7
2.7
2.3
0.5
8.2
6.0
5.0
6.4
5.4
4.9
6.0
3.5
3.3
5.4
2.8
4.8
5.1
3.9
4.3
5.2
2.3
5.7
2.9
3.9
5.5
1.6
4.4
4.7
4.7
5.0
9.5
3.5
9.1
3.5
3.2
2.7
2.5
2.5
3.2
3.7
4.4
4.9
3.1
3.5
3.2
4.0
0.9
1.6
4.2
3.2
3.4
1.2
4.1
2.8
3.3
5.7
2.9
1.8
3.8
13.8 –11.7
2.9
2.7
2.9
2.7
3.8
3.0
4.3
6.2
4.7
5.5
4.1
3.6
6.5
3.7
5.0 –0.8 6.0
5.5 0.4 4.3
3.7 0.9 6.4
4.2 2.1 4.8
3.3 0.6 ........
5.2 –1.5 ........
1.2 4.9 6.2
33
34
35
36
37
38
39
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
See “Explanatory Note” at the end of the tables.
- 11 -
Table 1A. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Continues
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
2011
I
II
2012
III
IV
I
II
2013
III
IV
I
II
2014
III
IV
Line
I
Gross domestic product (GDP)
2.5
1.6
2.3
2.2
2.5
–1.5
2.9
0.8
4.6
2.3
1.6
2.5
0.1
2.7
1.8
4.5
3.5
–2.1
Previously published................
2.5
1.8
2.8
1.9
2.8
–1.3
3.2
1.4
4.9
3.7
1.2
2.8
0.1
1.1
2.5
4.1
2.6
–2.9
Personal consumption expenditures
1.9
2.3
1.8
2.4
4.2
2.0
0.8
1.8
1.4
2.8
1.3
1.9
1.9
3.6
1.8
2.0
3.7
1.2
Previously published ...........................
2.0
2.5
2.2
2.0
4.3
2.1
1.5
2.1
2.4
2.9
1.9
1.7
1.7
2.3
1.8
2.0
3.3
1.0
Goods .................................................
3.4
3.1
2.8
3.4
7.6
2.9
–0.8
0.9
3.9
4.7
1.3
3.2
2.9
5.9
1.3
3.5
3.7
1.0
Previously published .......................
3.4
3.4
3.3
3.5
7.6
2.7
0.2
1.2
5.0
4.6
2.2
3.7
3.7
3.7
3.1
4.5
2.9
0.2
Durable goods.................................
6.1
6.1
7.3
6.7
12.9
5.2
–2.6
5.2
12.0
10.7
2.3
8.0
9.1
8.5
4.5
4.9
5.7
3.2
Previously published....................
6.1
6.6
7.7
6.9
12.9
5.4
–0.8
5.2
13.5
9.8
2.9
8.3
10.5
5.8
6.2
7.9
2.8
1.2
Nondurable goods...........................
2.2
1.8
0.7
1.9
5.2
1.9
0.1
–1.0
0.5
2.0
0.8
1.1
0.1
4.8
–0.2
2.8
2.7
0.0
Previously published....................
2.2
1.9
1.4
2.0
5.2
1.4
0.7
–0.5
1.3
2.2
1.8
1.6
0.6
2.7
1.6
2.9
2.9
–0.3
Services ..............................................
1.2
1.8
1.3
1.9
2.5
1.6
1.6
2.2
0.1
1.8
1.3
1.3
1.4
2.4
2.0
1.3
3.7
1.3
Previously published .......................
1.2
2.1
1.6
1.2
2.6
1.8
2.1
2.5
1.1
2.1
1.7
0.7
0.6
1.5
1.2
0.7
3.5
1.5
Gross private domestic investment ....
12.9
5.2
9.2
4.9
–3.5
–7.2
16.4
1.1
32.1
6.9
5.8
1.6
–5.3
7.6
6.9
16.8
3.8
–6.9
Previously published ...........................
12.9
4.9
9.5
5.4
–3.5
–7.5
14.2
2.5
31.9
10.5
–1.6
6.5
–2.4
4.7
9.2
17.2
2.5 –11.7
Fixed investment .................................
1.5
6.3
8.3
4.7
8.5
–0.9
8.2
17.3
9.9
9.1
4.4
3.1
6.6
2.7
4.9
6.6
6.3
0.2
Previously published .......................
1.5
6.2
8.3
4.5
8.5
–0.5
8.6
14.8
10.0
8.6
4.7
2.7
11.6
–1.5
6.5
5.9
2.8
–1.8
Nonresidential .................................
2.5
7.7
7.2
3.0
8.6
–0.9
8.8
19.4
9.5
5.8
4.4
0.8
3.6
1.5
1.6
5.5
10.4
1.6
Previously published....................
2.5
7.6
7.3
2.7
8.6
–0.9
9.9
16.7
9.5
5.8
4.5
0.3
9.8
–4.6
4.7
4.8
5.7
–1.2
Structures.................................... –16.4
2.3
13.1
–0.5
7.7 –27.1
30.6
25.6
13.8
18.7
10.5
–1.4
–6.7 –11.5
7.3
11.2
12.8
2.9
Previously published................ –16.4
2.1
12.7
1.3
7.7 –29.8
33.7
28.4
14.4
7.0
6.9
5.9
17.6 –25.7
17.6
13.4
–1.8
–7.7
Equipment ...................................
15.9
13.6
6.8
4.6
11.8
12.1
4.4
27.7
9.4
3.6
1.0
0.7
8.1
4.8
1.5
4.7
14.1
–1.0
Previously published................
15.9
12.7
7.6
3.1
11.8
12.0
4.3
20.3
10.2
8.3
5.3
–3.9
8.9
1.6
3.3
0.2
10.9
–2.8
Intellectual property products......
1.9
3.6
3.9
3.4
5.0
1.4
3.2
5.1
6.8
0.7
5.1
2.6
5.1
6.5
–2.0
2.8
3.6
4.6
Previously published................
1.9
4.4
3.4
3.1
5.0
3.7
4.9
5.3
5.5
1.3
1.8
2.8
5.7
3.7
–1.5
5.8
4.0
6.3
Residential ......................................
–2.5
0.5
13.5
11.9
7.9
–0.8
5.4
8.1
11.7
25.5
4.3
14.1
20.4
7.8
19.0
11.2
–8.5
–5.3
Previously published....................
–2.5
0.5
12.9
12.2
7.9
1.7
2.7
6.1
12.2
23.0
5.7
14.1
19.8
12.5
14.2
10.3
–7.9
–4.2
Change in private inventories ............. ........... ............ ........... ............ ........... ............ ........... ............ ........... ............ ........... ............ ............ ............ ............ ............ ............ ...........
Net exports of goods and services..... ........... ............ ........... ............ ........... ............ ........... ............ ........... ............ ........... ............ ............ ............ ............ ............ ............ ...........
Exports ...............................................
11.9
6.9
3.3
3.0
12.8
2.1
6.2
4.3
4.1
1.3
4.8
2.1
1.5
–0.8
6.3
5.1
10.0
–9.2
Previously published * ......................
11.5
7.1
3.5
2.7
12.4
3.8
4.9
7.0
2.7
4.2
3.8
0.4
1.1
–1.3
8.0
3.9
9.5
–8.9
Goods..............................................
14.4
6.5
3.7
2.8
12.0
2.8
5.0
3.4
8.1
1.5
5.3
2.0
–3.1
–0.9
8.3
5.7
13.6 –11.9
Previously published * ..................
14.3
7.1
3.8
2.4
13.0
4.4
3.7
5.7
7.7
1.8
5.2
1.6
–3.0
–2.8
9.4
5.6
11.8 –11.4
Services ..........................................
6.8
7.6
2.4
3.6
14.7
0.6
9.3
6.2
–4.7
0.9
3.7
2.3
12.7
–0.8
2.0
3.6
2.3
–2.8
Previously published * ..................
5.6
7.0
3.0
3.5
11.0
2.4
7.7
10.0
–8.1
10.0
0.8
–2.6
11.3
2.2
4.8
0.1
4.2
–2.9
Imports................................................
12.7
5.5
2.3
1.1
2.6
3.1
3.0
3.3
4.5
1.7
4.0
–0.6
–3.5
–0.3
8.5
0.6
1.3
2.2
Previously published * ......................
12.8
4.9
2.2
1.4
0.9
2.8
0.7
4.9
5.9
0.7
2.5
0.5
–3.1
0.6
6.9
2.4
1.5
1.8
Goods..............................................
14.9
5.8
2.1
0.9
2.7
5.3
0.8
2.2
5.5
2.0
4.0
–1.1
–4.8
0.5
8.5
0.1
0.9
2.5
Previously published * ..................
15.2
5.2
2.1
1.2
1.7
4.4
–0.7
3.5
6.7
0.9
2.5
0.4
–3.5
–0.2
7.5
2.4
1.3
1.9
Services ..........................................
3.8
4.0
3.4
2.2
1.9
–7.4
15.3
8.7
0.0
0.8
4.0
2.4
3.4
–4.1
8.5
2.8
3.5
1.0
Previously published * ..................
2.8
3.1
2.7
2.5
–2.5
–5.0
7.8
11.9
1.8
–0.1
2.3
1.0
–1.0
5.0
4.0
2.5
2.2
1.3
Government consumption
0.1
–3.0
–1.4
–2.0
–4.1
–7.5
–0.4
–2.5
–1.6
–2.7
–0.4
2.7
–6.0
–3.9
0.2
0.2
–3.8
–0.8
expenditures and gross investment
Previously published ...........................
0.1
–3.2
–1.0
–2.2
–4.1
–7.5
–1.3
–2.5
–1.5
–1.4
0.3
3.5
–6.5
–4.2
–0.4
0.4
–5.2
–0.8
Federal................................................
4.4
–2.7
–1.8
–5.7
–2.7 –10.6
1.6
–4.0
–2.6
–3.0
–0.9
7.5 –13.0
–9.9
–3.5
–1.2 –10.4
–0.1
Previously published .......................
4.4
–2.6
–1.4
–5.2
–2.7 –10.5
1.8
–3.4
–3.1
–2.5
–0.2
8.9 –13.9
–8.4
–1.6
–1.5 –12.8
0.6
National defense .............................
3.2
–2.3
–3.3
–6.6
–3.5 –14.0
6.7
1.9
–9.5
–7.4
–1.3
11.9 –20.1 –10.9
–2.1
0.4 –11.4
–4.0
Previously published....................
3.2
–2.3
–3.2
–7.0
–3.5 –14.2
6.8
2.4 –10.2
–6.7
–1.0
12.5 –21.6 –11.2
–0.6
–0.5 –14.4
–2.5
Nondefense.....................................
6.4
–3.4
1.0
–4.1
–1.2
–4.3
–6.9 –14.0
11.4
5.3
–0.4
0.4
0.6
–8.2
–5.8
–3.9
–8.6
6.6
Previously published....................
6.4
–3.0
1.8
–1.9
–1.2
–3.5
–6.5 –13.1
11.3
5.4
1.2
2.8
1.0
–3.6
–3.1
–3.1 –10.0
5.9
State and local ....................................
–2.7
–3.3
–1.2
0.5
–5.0
–5.3
–1.8
–1.4
–0.8
–2.6
0.0
–0.6
–0.8
0.3
2.7
1.1
0.6
–1.3
Previously published .......................
–2.7
–3.6
–0.7
–0.2
–5.0
–5.4
–3.4
–1.9
–0.4
–0.6
0.6
–0.2
–1.0
–1.3
0.4
1.7
0.0
–1.7
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
See “Explanatory Note” at the end of the tables.
- 12 -
Table 1A. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period—Table Ends
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
Addenda:
Final sales of domestic product ..........
Previously published .......................
Gross domestic purchases .................
Previously published .......................
Final sales to domestic purchasers ....
Previously published .......................
Gross domestic income (GDI) 1 ..........
Previously published .......................
Gross national product (GNP) ............
Previously published .......................
Disposable personal income...............
Previously published .......................
Current-dollar measures:
GDP ................................................
Previously published....................
Final sales of domestic product.......
Previously published....................
Gross domestic purchases..............
Previously published....................
Final sales to domestic purchasers
Previously published....................
GDI..................................................
Previously published....................
GNP ................................................
Previously published....................
Disposable personal income ...........
Previously published....................
2011
I
II
2012
III
IV
I
2013
II
III
IV
I
II
2014
III
IV
Line
I
1.1
1.0
2.9
2.9
1.5
1.5
2.7
2.7
2.8
2.8
1.0
1.1
1.7
2.0
1.6
1.7
1.7
1.8
2.2
2.5
1.8
2.1
2.5
2.4
2.2
2.6
2.2
2.6
2.1
2.4
3.4
2.5
2.1
2.7
3.0
2.0
2.2
1.7
1.9
1.7
1.9
1.6
2.2
2.6
2.2
1.9
–0.2
0.7
4.2
4.5
1.4
1.4
3.0
3.0
1.8
1.6
2.9
3.2
2.8
2.7
–0.6
–0.3
–1.2
–1.3
–0.4
–0.3
0.5
2.0
–1.2
–0.5
5.0
5.0
1.9
2.4
2.5
2.6
1.5
1.8
1.9
2.3
2.9
3.1
–0.6
–0.4
3.0
3.0
0.8
1.2
2.9
2.8
2.6
2.2
1.4
1.9
2.1
1.6
1.8
2.1
4.6
5.3
1.9
2.6
3.3
2.6
4.9
4.8
0.2
–0.6
2.5
3.4
2.3
3.1
2.5
2.9
7.2
5.4
1.3
3.0
6.8
4.6
1.4
2.2
1.6
1.1
1.4
2.0
0.6
–0.6
1.4
1.4
2.3
1.8
2.7
2.2
2.0
2.7
2.2
2.2
1.3
0.9
2.1
2.4
–0.4
–0.6
1.9
2.2
–0.7
–0.5
1.0
1.4
4.2
4.9
0.3
0.3
11.8
9.0
2.0
0.2
2.7
1.4
2.0
0.5
1.4
2.4
2.3
0.6
–12.6
–7.9
1.5
2.1
2.2
2.5
1.9
2.1
2.7
3.2
1.9
2.7
3.8
4.1
3.0
2.5
3.8
3.9
2.3
2.3
1.9
1.8
4.8
4.4
2.0
3.0
3.9
2.7
2.3
1.6
2.7
1.6
1.8
2.6
3.7
3.1
0.2
0.7
–1.0
–1.3
–0.4
–1.4
0.7
0.3
–0.7
–2.6
–2.8
–3.6
3.5
1.5
51
52
53
54
55
56
57
58
59
60
61
62
3.8
3.7
2.3
2.3
4.5
4.5
3.0
3.1
4.0
4.0
4.1
4.1
2.7
2.8
3.7
3.8
3.8
4.0
4.0
4.0
4.2
4.2
4.3
4.5
3.9
4.2
5.0
4.8
4.2
4.6
4.0
4.4
3.9
4.3
3.8
4.1
5.2
4.3
4.0
4.4
4.9
3.9
3.7
3.4
3.7
3.2
3.3
3.0
3.2
2.8
3.7
4.1
3.7
3.4
1.0
1.9
4.7
4.9
6.4
6.6
3.7
3.7
5.3
5.3
3.9
3.7
5.0
5.3
5.0
4.8
0.2
0.3
1.2
1.4
1.7
1.5
2.7
2.6
2.3
3.7
0.5
1.1
8.2
8.2
6.0
5.9
5.0
5.2
6.4
6.1
5.4
5.5
4.9
5.0
6.0
5.8
3.5
3.3
3.3
3.9
5.4
5.5
2.8
3.3
4.8
4.9
5.1
4.8
3.9
4.4
4.3
3.9
5.2
5.4
2.3
2.6
5.7
6.3
2.9
3.6
3.9
3.1
5.5
5.3
1.6
0.8
4.4
5.8
4.7
5.5
4.7
5.5
5.0
5.2
9.5
7.5
3.5
5.0
9.1
6.9
3.5
3.0
3.2
3.9
2.7
2.1
2.5
3.0
2.5
1.1
3.2
3.2
3.7
2.9
4.4
4.9
4.9
4.6
3.1
3.9
3.5
3.6
3.2
3.0
4.0
4.6
0.9
1.1
1.6
1.6
3.2
3.3
1.2
1.3
2.8
3.0
5.7
6.4
1.8
1.8
13.8
10.7
4.2
2.8
3.4
1.6
4.1
2.9
3.3
1.7
2.9
4.2
3.8
2.3
–11.7
–7.0
2.9
3.1
2.7
2.7
2.9
2.6
2.7
2.3
3.8
3.8
3.0
3.3
4.3
4.0
6.2
6.2
4.7
4.5
5.5
5.8
4.1
4.2
3.6
3.8
6.5
6.5
3.7
4.9
5.0
4.2
5.5
4.4
3.7
3.1
4.2
3.3
3.3
4.2
5.2
4.7
1.2
1.8
–0.8
–1.7
0.4
0.1
0.9
–0.1
2.1
1.7
0.6
–1.4
–1.5
–2.4
4.9
2.9
63
64
65
66
67
68
69
70
71
72
73
74
75
76
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
See “Explanatory Note” at the end of the tables.
- 13 -
Table 1B. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income
Billions of dollars
Line
Revised estimates
2011
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Gross domestic product (GDP).................................................................................
Personal consumption expenditures....................................................................................
Goods ..............................................................................................................................
Durable goods..............................................................................................................
Nondurable goods........................................................................................................
Services ...........................................................................................................................
Gross private domestic investment......................................................................................
Fixed investment ..............................................................................................................
Nonresidential ..............................................................................................................
Structures.................................................................................................................
Equipment ................................................................................................................
Intellectual property products ...................................................................................
Residential ...................................................................................................................
Change in private inventories ..........................................................................................
Net exports of goods and services ......................................................................................
Exports * ...........................................................................................................................
Goods * .........................................................................................................................
Services * ......................................................................................................................
Imports * ...........................................................................................................................
Goods * .........................................................................................................................
Services * ......................................................................................................................
Government consumption expenditures and gross investment ...........................................
Federal.............................................................................................................................
National defense ..........................................................................................................
Nondefense..................................................................................................................
State and local .................................................................................................................
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
Gross domestic product ...................................................................................................
Plus: Income receipts from the rest of the world .................................................................
Less: Income payments to the rest of the world ..................................................................
Equals: Gross national product .......................................................................................
Less: Consumption of fixed capital ......................................................................................
Less: Statistical discrepancy ...............................................................................................
Equals: National income...................................................................................................
Compensation of employees............................................................................................
Wages and salaries......................................................................................................
Supplements to wages and salaries ............................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments .......
Rental income of persons with capital consumption adjustment .....................................
Corporate profits with inventory valuation and capital consumption adjustments............
Net interest and miscellaneous payments .......................................................................
Taxes on production and imports less subsidies..............................................................
Business current transfer payments (net) ........................................................................
Current surplus of government enterprises .....................................................................
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Personal income ................................................................................................................
Compensation of employees............................................................................................
Wages and salaries......................................................................................................
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 ...................................
2012
Revisions to previously published
2013
2011
2012
2013
Revisions as a percentage
of previously published
2011
2012
Line
2013
15,517.9
10,689.3
3,596.5
1,125.3
2,471.1
7,092.8
2,239.9
2,198.1
1,812.1
381.6
838.2
592.2
386.0
41.8
–580.0
2,106.4
1,466.9
639.5
2,686.4
2,244.7
441.6
3,168.7
1,303.5
836.9
466.5
1,865.3
16,163.2
11,083.1
3,741.9
1,192.1
2,549.8
7,341.3
2,479.2
2,414.3
1,972.0
446.9
904.1
621.0
442.3
64.9
–568.3
2,194.2
1,527.2
667.0
2,762.5
2,306.0
456.4
3,169.2
1,291.4
818.0
473.4
1,877.8
16,768.1
11,484.3
3,851.2
1,249.3
2,601.9
7,633.2
2,648.0
2,573.9
2,054.0
457.2
949.7
647.1
519.9
74.1
–508.2
2,262.2
1,562.8
699.4
2,770.4
2,302.3
468.1
3,143.9
1,231.5
769.9
461.6
1,912.4
–15.9
–22.5
–6.2
–4.6
–1.7
–16.3
7.8
2.5
2.2
1.0
5.5
–4.4
0.2
5.4
–11.3
5.2
–6.7
11.9
16.5
10.1
6.3
10.0
–0.6
1.1
–1.7
10.6
–81.4
–66.5
–27.8
–10.6
–17.2
–38.6
4.0
5.2
2.0
9.6
–3.5
–4.0
3.1
–1.2
–21.1
–1.7
–8.8
7.1
19.4
10.6
8.7
2.2
–4.3
0.9
–5.2
6.5
–31.6
–0.1
–0.5
–0.2
–17.2
–0.2
–0.6
–0.1
–34.7
–0.2
–0.7
–0.9
–13.7
–0.4
–0.9
–1.1
–21.0
–0.1
–0.7
–0.8
17.5
–0.2
–0.5
0.2
–22.0
0.3
0.2
–0.8
9.9
0.1
0.2
0.4
6.9
0.1
0.1
0.3
0.8
0.3
2.2
0.2
10.0
0.7
–0.4
1.1
–3.9
–0.7
–0.6
–0.6
3.0
0.1
0.7
0.6
–32.0 ................. ................. .................
–10.9 ................. ................. .................
2.3
0.2
–0.1
0.1
–4.2
–0.5
–0.6
–0.3
6.5
1.9
1.1
0.9
13.2
0.6
0.7
0.5
6.3
0.5
0.5
0.3
6.9
1.4
1.9
1.5
18.4
0.3
0.1
0.6
–14.4
0.0
–0.3
–1.2
–0.8
0.1
0.1
–0.1
–13.5
–0.4
–1.1
–2.8
32.8
0.6
0.3
1.7
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
15,517.9
792.6
546.0
15,764.6
2,450.6
–38.3
13,352.3
8,269.0
6,633.2
1,635.9
1,143.7
485.3
1,816.6
488.1
1,042.6
131.5
–24.5
16,163.2
793.8
566.5
16,390.5
2,530.2
–209.2
14,069.5
8,606.5
6,932.1
1,674.4
1,260.2
533.0
2,022.8
491.7
1,074.0
106.7
–25.3
16,768.1
810.4
586.1
16,992.4
2,627.2
–211.9
14,577.1
8,844.8
7,124.7
1,720.1
1,336.6
595.8
2,106.9
499.8
1,102.3
120.6
–29.6
–15.9
–10.2
3.9
–30.0
–2.0
15.4
–43.4
–9.5
–5.5
–3.9
–11.4
0.9
–61.1
31.2
5.4
1.9
–0.7
–81.4
–24.8
0.8
–106.9
–12.7
–192.2
97.9
–5.1
5.3
–10.5
35.3
–8.2
13.3
52.1
8.4
–0.2
2.4
–31.6
–0.1
–0.5
–0.2
–16.9
–1.3
–3.0
–2.0
16.6
0.7
0.1
2.9
–65.1
–0.2
–0.6
–0.4
–19.4
–0.1
–0.5
–0.7
–80.5 ................. ................. .................
34.7
–0.3
0.7
0.2
–14.6
–0.1
–0.1
–0.2
–12.8
–0.1
0.1
–0.2
–1.8
–0.2
–0.6
–0.1
–12.2
–1.0
2.9
–0.9
5.2
0.2
–1.5
0.9
4.8
–3.3
0.7
0.2
30.6
6.8
11.9
6.5
14.3
0.5
0.8
1.3
–3.8
1.5
–0.2
–3.1
10.5 ................. ................. .................
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
13,202.0
8,269.0
6,633.2
1,635.9
1,143.7
75.5
1,068.1
485.3
1,913.9
1,231.6
682.2
2,307.9
917.8
1,400.6
11,801.4
11,090.2
711.1
6.0
13,887.7
8,606.5
6,932.1
1,674.4
1,260.2
72.3
1,187.9
533.0
2,088.6
1,255.9
832.7
2,350.7
951.2
1,503.7
12,384.0
11,487.9
896.2
7.2
14,166.9
8,844.8
7,124.7
1,720.1
1,336.6
83.2
1,253.5
595.8
2,079.7
1,255.2
824.5
2,414.5
1,104.5
1,661.8
12,505.1
11,897.1
608.1
4.9
10.7
–9.5
–5.5
–3.9
–11.4
2.9
–14.5
0.9
29.3
27.5
1.7
1.0
–0.4
–3.4
14.0
–28.9
42.9
0.3
143.9
–5.1
5.3
–10.5
35.3
–3.1
38.3
–8.2
130.1
44.3
85.8
–7.6
0.5
5.7
138.2
–70.5
208.8
1.6
32.2
0.1
1.0
0.2
–14.6
–0.1
–0.1
–0.2
–12.8
–0.1
0.1
–0.2
–1.8
–0.2
–0.6
–0.1
–12.2
–1.0
2.9
–0.9
–44.4
4.0
–4.1
–34.8
32.3
–1.3
3.3
2.6
5.2
0.2
–1.5
0.9
82.0
1.6
6.6
4.1
26.0
2.3
3.7
2.1
56.0
0.2
11.5
7.3
–29.8
0.0
–0.3
–1.2
–1.5
0.0
0.1
–0.1
3.3
–0.2
0.4
0.2
28.9
0.1
1.1
0.2
–17.8
–0.3
–0.6
–0.1
46.8 ................. ................. .................
0.4 ................. ................. .................
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
–0.2
15,556.3
–1.3
16,372.3
–1.3
16,980.0
0.1
–31.2
–1.2
110.7
–0.5 ................. ................. .................
48.8
–0.2
0.7
0.3
62
63
Relation of GDP and national income
Disposition of personal income
Addenda:
62 Statistical discrepancy as a percentage of GDP .................................................................
63 Gross domestic income .......................................................................................................
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
- 14 -
Table 2. Contributions to Percent Change in Real Gross Domestic Product
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
Percent change at annual rate:
Gross domestic product.........................................
Percentage points at annual rates:
Personal consumption expenditures............................
Goods ..........................................................................
Durable goods...........................................................
Motor vehicles and parts .......................................
Furnishings and durable household equipment ....
Recreational goods and vehicles ..........................
Other durable goods..............................................
Nondurable goods.....................................................
Food and beverages purchased for 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 .............................................................
Information processing equipment ....................
Computers and peripheral equipment ...........
Other..............................................................
Industrial equipment ..........................................
Transportation equipment..................................
Other equipment................................................
Intellectual property products................................
Software ............................................................
Research and development...............................
Entertainment, literary, and artistic originals......
Residential ................................................................
Change in private inventories....................................
Farm..........................................................................
Nonfarm ....................................................................
Net exports of goods and services...............................
Exports ........................................................................
Goods........................................................................
Services ....................................................................
Imports.........................................................................
Goods........................................................................
Services ....................................................................
Government consumption expenditures and gross
investment ...................................................................
Federal .........................................................................
National defense .......................................................
Consumption expenditures....................................
Gross investment...................................................
Nondefense...............................................................
Consumption expenditures....................................
Gross investment...................................................
State and local ............................................................
Consumption expenditures .......................................
Gross investment ......................................................
2.5
1.6
2.3
2.2
2.5
1.32
0.77
0.43
0.04
0.12
0.22
0.05
0.34
1.55
0.71
0.43
0.07
0.09
0.20
0.06
0.28
1.25
0.64
0.52
0.17
0.07
0.22
0.06
0.12
1.64
0.78
0.49
0.12
0.10
0.20
0.07
0.29
2.79
1.66
0.88
0.46
0.13
0.18
0.11
0.78
0.11 0.06 0.04
0.11 0.08 0.02
–0.02 –0.07 –0.05
0.13 0.21 0.11
0.55 0.84 0.61
0.53 0.86 0.52
0.16 0.16 0.08
0.15 0.28 0.37
–0.02 0.05 0.04
0.03 0.06 0.04
0.06 0.11 0.11
0.11 0.09 –0.23
0.04 0.12 0.11
0.02 –0.02
0.09 0.08
0.09
0.23
2011
I
II
–1.5
2.9
2012
III
0.8
IV
4.6
1.38 0.57 1.20 0.94
0.66 –0.18 0.20 0.90
0.37 –0.19 0.36 0.83
0.02 –0.52 0.03 0.50
0.07 0.10 0.07 0.14
0.23 0.16 0.20 0.23
0.05 0.07 0.07 –0.05
0.29 0.01 –0.17 0.08
0.05 0.31 0.06 –0.01
0.02 0.27 0.08 0.08
0.02 –0.04 –0.09 –0.27
0.20 0.25 0.25 0.21
0.86 1.14 0.72 0.75
0.78 1.20 0.78 0.73
0.16 0.28 0.04 0.16
0.24 0.43 0.20 0.22
0.05 0.04 0.02 0.09
0.06 0.08 –0.03 0.16
0.09 0.14 0.16 0.03
0.10 0.20 0.15 –0.03
0.07 0.03 0.26 0.10
0.07 –0.07 –0.06
0.13 0.17 –0.10
–0.09
–0.14
–0.02
0.07
1.00
0.83
0.34
–0.03
0.07
0.06
0.09
0.17
0.13
2013
I
II
III
IV
2.3
1.6
2.5
0.1
1.87 0.86
1.06 0.29
0.75 0.16
0.23 0.01
0.13 –0.07
0.29 0.15
0.10 0.08
0.31 0.13
1.32
0.74
0.57
0.21
0.04
0.21
0.10
0.17
1.32
0.67
0.64
0.26
0.09
0.20
0.09
0.02
I
II
2.7
1.8
2014
III
4.5
IV
I
3.5 –2.1
Line
II
4.0
1
2.45 1.23 1.39
1.35 0.30 0.80
0.61 0.33 0.36
0.14 0.00 0.04
0.14 0.09 0.16
0.24 0.20 0.17
0.09 0.04 –0.01
0.74 –0.03 0.43
2.51
0.83
0.42
0.13
0.07
0.12
0.10
0.41
0.83
0.23
0.23
0.13
0.01
0.07
0.01
0.00
1.69
1.38
0.99
0.42
0.21
0.26
0.11
0.39
2
3
4
5
6
7
8
9
–0.05 0.15 0.09 0.06 0.04 0.14 –0.14 0.11
0.07 0.13 –0.15 0.12 –0.05 0.11 0.04 –0.08
–0.05 –0.16 0.16 –0.03 –0.16 0.15 0.00 0.09
0.11 0.19 0.03 0.02 0.20 0.34 0.08 0.31
0.04 0.81 0.57 0.58 0.65 1.11 0.93 0.59
0.15 0.74 0.32 0.54 0.38 1.21 0.90 0.48
–0.14 –0.20 0.46 0.24 –0.22 0.62 –0.01 –0.18
0.51 0.70 0.13 0.40 0.13 0.04 0.40 0.30
0.02 0.01 0.04 0.06 0.01 0.10 0.05 0.02
0.01 0.06 0.02 0.02 0.04 0.16 0.00 0.09
0.08 0.18 0.06 0.10 0.18 0.13 –0.04 0.01
–0.30 –0.34 –0.33 –0.39 0.09 0.25 0.33 0.11
–0.01 0.33 –0.06 0.11 0.15 –0.09 0.17 0.13
0.13
0.05
0.00
0.23
1.69
1.50
0.24
0.48
0.06
0.02
0.30
0.28
0.12
–0.05
–0.08
0.05
0.08
0.60
0.61
0.68
–0.16
0.04
–0.05
–0.05
0.14
0.02
–0.08
0.14
–0.09
0.41
0.31
0.16
–0.41
0.08
0.05
0.07
0.17
0.06
0.15
10
11
12
13
14
15
16
17
18
19
20
21
22
0.19 –0.01 0.15
0.51 –0.31 0.05
23
24
0.02 0.18 –0.12
0.08 –0.04 0.27
0.08
0.45
0.25
0.08
0.04
0.37
0.27 –0.10
0.05 –0.11
0.03
0.27
0.12
0.14
0.08
1.66
0.21
0.28
–0.49
0.70
0.17
0.05
0.12
–0.01
0.43
0.10
0.07
–0.02
0.04
0.05
–0.07
1.45
–0.04
1.49
–0.46
1.33
1.08
0.25
–1.79
–1.69
–0.10
0.10
0.73
0.86
0.85
0.06
0.66
0.03
–0.01
0.04
0.22
0.29
0.13
0.13
0.11
0.02
0.00
0.01
–0.14
0.07
–0.20
–0.02
0.87
0.57
0.29
–0.89
–0.78
–0.11
0.14
1.33
1.17
0.84
0.32
0.37
0.06
0.02
0.03
0.05
0.21
0.05
0.15
0.10
0.03
0.02
0.33
0.15
–0.07
0.22
0.04
0.44
0.34
0.10
–0.40
–0.30
–0.10
0.06
0.76
0.70
0.37
–0.01
0.26
0.05
0.00
0.05
0.05
0.08
0.07
0.13
0.05
0.06
0.01
0.33
0.06
0.13
–0.07
0.22
0.41
0.26
0.15
–0.19
–0.13
–0.06
0.24
–0.51
1.13
0.94
0.18
0.57
0.19
–0.03
0.22
0.14
0.08
0.16
0.19
0.09
0.06
0.04
0.19
–1.63
0.02
–1.66
1.12
1.53
0.99
0.54
–0.41
–0.36
–0.05
–0.04
–1.07
–0.11
–0.09
–0.73
0.59
–0.24
–0.11
–0.13
0.36
0.31
0.16
0.05
0.14
–0.03
–0.06
–0.02
–0.96
0.30
–1.27
–0.24
0.27
0.24
0.03
–0.51
–0.73
0.22
0.05
2.14
1.10
0.97
0.63
0.22
0.17
0.16
0.01
0.06
–0.03
0.02
0.12
0.16
–0.02
–0.02
0.13
1.04
–0.02
1.06
0.31
0.82
0.45
0.37
–0.51
–0.11
–0.40
–0.21
0.15
2.25
2.06
0.56
1.31
0.05
0.08
–0.03
0.38
0.52
0.36
0.19
0.17
0.00
0.01
0.19
–2.10
0.08
–2.18
0.01
0.57
0.32
0.25
–0.56
–0.32
–0.24
0.38
4.16
1.36
1.08
0.34
0.49
–0.04
–0.05
0.01
0.29
0.49
–0.25
0.26
0.15
0.07
0.03
0.28
2.80
0.05
2.75
–0.21
0.56
0.76
–0.20
–0.76
–0.76
0.00
0.37
1.04
1.24
0.66
0.46
0.17
0.18
0.09
0.09
–0.26
0.22
0.03
0.03
0.03
–0.02
0.02
0.59
–0.20
–0.06
–0.15
–0.11
0.19
0.15
0.03
–0.29
–0.27
–0.02
–0.16
0.88
0.61
0.50
0.27
0.03
–0.09
–0.03
–0.06
0.03
0.08
0.01
0.19
0.11
0.06
0.02
0.11
0.27
–0.14
0.41
–0.04
0.64
0.49
0.15
–0.68
–0.57
–0.11
0.32
0.26
0.45
0.09
–0.04
0.03
–0.13
–0.13
–0.01
–0.01
–0.15
0.32
0.10
0.04
0.05
0.01
0.36
–0.19
–0.29
0.10
0.39
0.28
0.19
0.09
0.10
0.17
–0.07
–0.21
–0.84
0.96
0.44
–0.19
0.44
0.25
0.18
0.07
0.07
0.09
0.03
0.19
0.06
0.11
0.02
0.52
–1.80
0.14
–1.95
0.79
0.19
–0.30
0.50
0.59
0.68
–0.09
–0.01
1.12
0.42
0.20
–0.33
0.28
0.03
–0.06
0.09
0.03
0.08
0.15
0.24
0.16
0.07
0.01
0.22
0.70
0.36
0.35
–0.08
–0.12
–0.09
–0.03
0.04
–0.08
0.12
0.24
1.03
0.74
0.21
0.19
0.09
0.09
–0.06
0.15
0.00
0.12
–0.12
–0.08
–0.15
0.06
0.01
0.53
0.30
0.10
0.19
–0.54
0.82
0.74
0.09
–1.36
–1.13
–0.23
0.03
2.50
1.01
0.67
0.29
0.27
0.08
0.03
0.05
0.20
0.05
–0.07
0.11
0.12
–0.01
–0.01
0.34
1.49
0.17
1.32
0.59
0.67
0.52
0.15
–0.09
–0.01
–0.08
0.33
0.62
0.95
1.23
0.34
0.76
–0.07
0.11
–0.18
0.02
0.45
0.36
0.14
0.07
0.06
0.01
–0.28
–0.34
0.01
–0.35
1.08
1.30
1.20
0.10
–0.22
–0.12
–0.09
–0.30
–1.13
0.03
0.20
0.08
–0.06
–0.13
–0.22
0.09
0.17
0.00
–0.09
0.18
0.03
0.14
0.01
–0.17
–1.16
–0.23
–0.93
–1.66
–1.30
–1.18
–0.12
–0.36
–0.33
–0.03
–0.10
2.57
0.91
0.68
0.15
0.40
0.33
0.03
0.30
0.24
–0.01
–0.17
0.14
0.07
0.07
0.00
0.23
1.66
0.09
1.56
–0.61
1.23
1.14
0.10
–1.85
–1.73
–0.12
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
0.02
0.37
0.18
0.16
0.02
0.19
0.13
0.06
–0.35
–0.27
–0.08
–0.65
–0.24
–0.13
–0.07
–0.06
–0.11
–0.11
0.00
–0.41
–0.27
–0.14
–0.30
–0.15
–0.18
–0.12
–0.06
0.03
0.05
–0.02
–0.15
–0.02
–0.12
–0.39
–0.45
–0.33
–0.24
–0.09
–0.12
–0.08
–0.04
0.06
0.12
–0.06
–0.87
–0.23
–0.19
–0.25
0.06
–0.04
–0.05
0.01
–0.63
–0.35
–0.28
–1.60
–0.95
–0.81
–0.47
–0.35
–0.14
–0.16
0.02
–0.65
–0.38
–0.28
–0.08
0.14
0.36
0.28
0.08
–0.22
–0.18
–0.04
–0.22
–0.11
–0.11
–0.52
–0.35
0.11
0.16
–0.06
–0.45
–0.42
–0.03
–0.17
–0.10
–0.07
–0.31
–0.21
–0.53
–0.53
0.00
0.32
0.35
–0.03
–0.10
–0.05
–0.05
–0.56
–0.25
–0.40
–0.18
–0.22
0.15
0.16
0.00
–0.31
–0.08
–0.23
–0.08
–0.08
–0.06
–0.14
0.08
–0.01
–0.01
–0.01
0.00
0.03
–0.04
0.52
0.59
0.58
0.62
–0.04
0.01
0.03
–0.02
–0.07
0.11
–0.18
–1.20
–1.10
–1.12
–0.97
–0.15
0.02
0.03
–0.01
–0.10
0.07
–0.17
–0.75
–0.79
–0.55
–0.35
–0.20
–0.24
–0.17
–0.07
0.04
0.16
–0.12
0.04
–0.26
–0.09
–0.05
–0.05
–0.17
–0.12
–0.04
0.31
0.15
0.15
0.04
–0.08
0.03
0.02
0.00
–0.11
–0.08
–0.03
0.13
0.12
0.00
–0.71
–0.79
–0.55
–0.48
–0.06
–0.24
–0.20
–0.04
0.07
0.09
–0.02
–0.15
–0.01
–0.18
0.12
–0.30
0.17
0.21
–0.04
–0.14
0.08
–0.22
0.30
–0.05
0.05
–0.06
0.11
–0.10
–0.07
–0.03
0.35
0.12
0.23
52
53
54
55
56
57
58
59
60
61
62
See “Explanatory Note” at the end of the tables.
- 15 -
Table 2A. Contributions to Percent Change in Real Gross Domestic Product—Continues
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
Percent change at annual rate:
Gross domestic product..........................................
Previously published...............................................
Percentage points at annual rates:
Personal consumption expenditures.............................
Previously published ......................................................
Goods ...........................................................................
Previously published ..................................................
Durable goods............................................................
Previously published...............................................
Motor vehicles and parts ........................................
Previously published...........................................
Furnishings and durable household equipment .....
Previously published...........................................
Recreational goods and vehicles ...........................
Previously published...........................................
Other durable goods...............................................
Previously published...........................................
Nondurable goods......................................................
Previously published...............................................
Food and beverages purchased for off-premises
consumption .......................................................
Previously published...........................................
Clothing and footwear.............................................
Previously published...........................................
Gasoline and other energy goods ..........................
Previously published...........................................
Other nondurable goods.........................................
Previously published...........................................
Services ........................................................................
Previously published ..................................................
Household consumption expenditures (for services)
Previously published...............................................
Housing and utilities ...............................................
Previously published...........................................
Health care.............................................................
Previously published...........................................
Transportation services ..........................................
Previously published...........................................
Recreation services................................................
Previously published...........................................
Food services and accommodations......................
Previously published...........................................
Financial services and insurance ...........................
Previously published...........................................
Other services ........................................................
Previously published...........................................
Final consumption expenditures of nonprofit
institutions serving households ..............................
Previously published...............................................
Gross output of nonprofit institutions......................
Previously published...........................................
Less: Receipts from sales of goods and services
by nonprofit institutions.......................................
Previously published...........................................
Gross private domestic investment ...............................
Previously published ......................................................
Fixed investment..........................................................
Previously published ..................................................
Nonresidential ............................................................
Previously published...............................................
Structures...............................................................
Previously published...........................................
Equipment ..............................................................
Previously published...........................................
2011
I
2.5
2.5
1.6
1.8
2.3
2.8
2.2
1.9
2.5
2.8
–1.5
–1.3
1.32
1.34
0.77
0.77
0.43
0.43
0.04
0.04
0.12
0.12
0.22
0.22
0.05
0.05
0.34
0.34
1.55
1.74
0.71
0.76
0.43
0.46
0.07
0.11
0.09
0.09
0.20
0.20
0.06
0.06
0.28
0.30
1.25
1.52
0.64
0.77
0.52
0.56
0.17
0.17
0.07
0.10
0.22
0.22
0.06
0.07
0.12
0.22
1.64
1.37
0.78
0.81
0.49
0.51
0.12
0.12
0.10
0.10
0.20
0.20
0.07
0.08
0.29
0.31
2.79
2.86
1.66
1.66
0.88
0.88
0.46
0.46
0.13
0.13
0.18
0.18
0.11
0.11
0.78
0.78
1.38
1.42
0.66
0.60
0.37
0.38
0.02
0.09
0.07
0.04
0.23
0.21
0.05
0.04
0.29
0.22
II
2.9
3.2
0.8
1.4
IV
4.6
4.9
0.57 1.20 0.94
1.03 1.42 1.65
–0.18 0.20 0.90
0.05 0.29 1.14
–0.19 0.36 0.83
–0.06 0.36 0.93
–0.52 0.03 0.50
–0.43 0.04 0.56
0.10 0.07 0.14
0.09 0.09 0.17
0.16 0.20 0.23
0.18 0.20 0.25
0.07 0.07 –0.05
0.09 0.04 –0.04
0.01 –0.17 0.08
0.11 –0.08 0.21
0.11 0.06 0.04 0.05 0.31 0.06 –0.01
0.11 0.08 0.07 0.07 0.31 0.07 0.08
0.11 0.08 0.02 0.02 0.27 0.08 0.08
0.11 0.08 0.03 0.03 0.27 0.05 0.10
–0.02 –0.07 –0.05 0.02 –0.04 –0.09 –0.27
–0.02 –0.06 –0.04 0.01 –0.04 –0.08 –0.25
0.13 0.21 0.11 0.20 0.25 0.25 0.21
0.13 0.19 0.16 0.20 0.25 0.19 0.18
0.55 0.84 0.61 0.86 1.14 0.72 0.75
0.57 0.98 0.74 0.55 1.20 0.81 0.98
0.53 0.86 0.52 0.78 1.20 0.78 0.73
0.56 0.97 0.65 0.59 1.27 0.84 0.94
0.16 0.16 0.08 0.16 0.28 0.04 0.16
0.16 0.16 0.10 0.11 0.28 0.06 0.17
0.15 0.28 0.37 0.24 0.43 0.20 0.22
0.15 0.30 0.30 0.27 0.43 0.24 0.30
–0.02 0.05 0.04 0.05 0.04 0.02 0.09
–0.02 0.05 0.02 0.02 0.04 0.02 0.09
0.03 0.06 0.04 0.06 0.08 –0.03 0.16
0.03 0.05 0.04 0.02 0.08 –0.06 0.15
0.06 0.11 0.11 0.09 0.14 0.16 0.03
0.06 0.17 0.15 0.12 0.14 0.21 0.20
0.11 0.09 –0.23 0.10 0.20 0.15 –0.03
0.11 0.15 –0.07 0.08 0.20 0.22 0.02
0.04 0.12 0.11 0.07 0.03 0.26 0.10
0.06 0.09 0.10 –0.02 0.10 0.14 0.00
0.02 –0.02
0.02 0.00
0.09 0.08
0.09 0.09
2012
III
–0.09
–0.05
–0.14
–0.15
–0.02
–0.01
0.07
0.14
1.00
1.14
0.83
0.84
0.34
0.32
–0.03
–0.09
0.07
0.06
0.06
0.07
0.09
0.14
0.17
0.31
0.13
0.03
2013
I
II
III
IV
2.3
3.7
1.6
1.2
2.5
2.8
0.1
0.1
1.87 0.86
1.98 1.28
1.06 0.29
1.04 0.50
0.75 0.16
0.69 0.21
0.23 0.01
0.26 –0.11
0.13 –0.07
0.13 0.02
0.29 0.15
0.22 0.19
0.10 0.08
0.09 0.12
0.31 0.13
0.35 0.28
1.32
1.15
0.74
0.84
0.57
0.59
0.21
0.19
0.04
0.09
0.21
0.22
0.10
0.08
0.17
0.25
1.32
1.13
0.67
0.85
0.64
0.74
0.26
0.33
0.09
0.07
0.20
0.21
0.09
0.13
0.02
0.10
I
II
2.7
1.1
1.8
2.5
2014 Line
III
4.5
4.1
2.45 1.23 1.39
1.54 1.24 1.36
1.35 0.30 0.80
0.85 0.71 1.03
0.61 0.33 0.36
0.43 0.46 0.58
0.14 0.00 0.04
0.13 –0.02 0.12
0.14 0.09 0.16
0.07 0.15 0.21
0.24 0.20 0.17
0.16 0.23 0.24
0.09 0.04 –0.01
0.07 0.10 0.00
0.74 –0.03 0.43
0.43 0.26 0.46
IV
I
3.5 –2.1
2.6 –2.9
0.83
0.71
0.23
0.04
0.23
0.09
0.13
0.07
0.01
–0.03
0.07
0.03
0.01
0.02
0.00
–0.05
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
0.11 0.13 –0.05
0.14 0.16 –0.06
–0.08 0.05 –0.08
–0.09 0.09 –0.09
0.09 0.00 0.05
0.08 –0.01 0.05
0.31 0.23 0.08
0.33 0.21 0.05
0.59 1.69 0.60
0.32 1.57 0.67
0.48 1.50 0.61
0.24 1.61 0.66
–0.18 0.24 0.68
–0.31 0.20 0.79
0.30 0.48 –0.16
0.31 0.62 –0.16
0.02 0.06 0.04
–0.04 0.04 0.03
0.09 0.02 –0.05
0.10 0.01 –0.06
0.01 0.30 –0.05
0.02 0.32 –0.07
0.11 0.28 0.14
0.09 0.30 0.13
0.13 0.12 0.02
0.06 0.10 0.01
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
–0.10 0.03
–0.35 –0.07
–0.11 0.27
–0.22 0.25
0.12 0.19 –0.01
0.08 –0.04 0.00
0.14 0.51 –0.31
0.15 0.42 –0.30
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
–0.05
–0.02
0.07
0.09
–0.05
–0.02
0.11
0.15
0.04
0.51
0.15
0.66
–0.14
–0.13
0.51
0.55
0.02
0.02
0.01
0.02
0.08
0.18
–0.30
–0.10
–0.01
0.12
0.15
0.15
0.13
0.10
–0.16
–0.12
0.19
0.22
0.81
0.94
0.74
0.87
–0.20
–0.12
0.70
0.54
0.01
–0.01
0.06
0.05
0.18
0.18
–0.34
–0.05
0.33
0.28
0.09
0.12
–0.15
–0.09
0.16
0.18
0.03
0.07
0.57
0.78
0.32
0.52
0.46
0.55
0.13
0.03
0.04
0.04
0.02
0.01
0.06
0.10
–0.33
–0.17
–0.06
–0.04
0.06
0.09
0.12
0.11
–0.03
–0.08
0.02
0.14
0.58
0.31
0.54
0.25
0.24
0.16
0.40
0.26
0.06
0.02
0.02
0.03
0.10
0.05
–0.39
–0.35
0.11
0.09
0.09 0.07 –0.07 –0.06
0.09 –0.04 –0.07 –0.03
0.23 0.13 0.17 –0.10
0.21 0.10 0.17 –0.06
0.02 0.18 –0.12
0.04 0.30 –0.15
0.08 –0.04 0.27
0.11 0.00 0.26
0.08
0.06
0.45
0.39
0.25
0.26
0.08
0.09
0.04
0.06
0.37
0.31
0.27
0.16
0.05
0.09
–0.21
–0.07
–0.84
–0.36
0.96
1.63
0.44
1.13
–0.19
0.44
0.44
–0.01
0.13
1.12
0.71
0.42
–0.23
0.20
–0.57
–0.33
–0.80
0.28
0.24
0.31
1.03
1.38
0.74
0.96
0.21
0.56
0.19
0.43
0.09
0.03 0.33 –0.30
0.07 0.46 –0.30
2.50 0.62 –1.13
2.56 0.41 –1.97
1.01 0.95 0.03
0.89 0.43 –0.27
0.67 1.23 0.20
0.58 0.68 –0.14
0.29 0.34 0.08
0.35 –0.05 –0.22
0.27 0.76 –0.06
0.47
0.09
0.18
0.02
0.08
0.08
1.66
1.66
0.21
0.21
0.28
0.28
–0.49
–0.49
0.70
0.10
0.09
0.73
0.69
0.86
0.85
0.85
0.84
0.06
0.05
0.66
0.14 0.06 0.24 –0.04
0.12 0.14 0.24 –0.02
1.33 0.76 –0.51 –1.07
1.36 0.82 –0.51 –1.11
1.17 0.70 1.13 –0.11
1.17 0.66 1.13 –0.05
0.84 0.37 0.94 –0.09
0.85 0.33 0.94 –0.09
0.32 –0.01 0.18 –0.73
0.31 0.03 0.18 –0.82
0.37 0.26 0.57 0.59
0.05 –0.21
0.06 –0.30
2.14 0.15
1.88 0.36
1.10 2.25
1.16 1.96
0.97 2.06
1.09 1.81
0.63 0.56
0.68 0.62
0.22 1.31
0.38
0.41
4.16
4.13
1.36
1.39
1.08
1.10
0.34
0.35
0.49
0.37 –0.16 0.32
0.33 –0.16 0.25
1.04 0.88 0.26
1.57 –0.23 0.99
1.24 0.61 0.45
1.21 0.68 0.39
0.66 0.50 0.09
0.68 0.53 0.04
0.46 0.27 –0.04
0.18 0.18 0.15
0.17 0.03 0.03
0.70
0.62
0.41
0.23
0.54
0.45
0.17
0.57
0.59
0.99
0.29 –0.22
0.04 0.14 –0.14
0.05 0.11 –0.06
–0.05 0.11 0.04
–0.04 0.04 0.13
–0.16 0.15 0.00
–0.14 0.11 –0.02
0.20 0.34 0.08
0.23 0.17 0.21
0.65 1.11 0.93
0.29 0.69 0.53
0.38 1.21 0.90
0.13 1.04 0.60
–0.22 0.62 –0.01
–0.35 0.58 0.01
0.13 0.04 0.40
0.26 0.14 0.40
0.01 0.10 0.05
–0.01 0.06 0.00
0.04 0.16 0.00
–0.04 0.06 –0.02
0.18 0.13 –0.04
0.27 0.11 0.03
0.09 0.25 0.33
–0.01 0.27 0.20
0.15 –0.09 0.17
0.01 –0.17 –0.02
2.51
2.22
0.83
0.66
0.42
0.21
0.13
0.00
0.07
0.04
0.12
0.07
0.10
0.11
0.41
0.45
1
2
0.58 –0.16
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
See “Explanatory Note” at the end of the tables.
- 16 -
Table 2A. Contributions to Percent Change in Real Gross Domestic Product—Table Ends
Seasonally adjusted at annual rates
Line
61
Information processing equipment .....................
62
Previously published .......................................
63
Computers and peripheral equipment ............
64
Previously published ...................................
65
Other...............................................................
66
Previously published ...................................
67
Industrial equipment ...........................................
68
Previously published .......................................
69
Transportation equipment...................................
70
Previously published .......................................
71
Other equipment.................................................
72
Previously published .......................................
73
Intellectual property products.................................
74
Previously published...........................................
75
Software .............................................................
76
Previously published .......................................
77
Research and development................................
78
Previously published .......................................
79
Entertainment, literary, and artistic originals.......
80
Previously published .......................................
81
Residential .................................................................
82
Previously published...........................................
83 Change in private inventories.....................................
84
Previously published ..................................................
85
Farm...........................................................................
86
Previously published...............................................
87
Nonfarm .....................................................................
88
Previously published...............................................
89 Net exports of goods and services................................
90 Previously published ......................................................
91 Exports .........................................................................
92
Previously published * .................................................
93
Goods.........................................................................
94
Previously published * .............................................
95
Services .....................................................................
96
Previously published * .............................................
97 Imports..........................................................................
98
Previously published * .................................................
99
Goods.........................................................................
100
Previously published * .............................................
101
Services .....................................................................
102
Previously published * .............................................
103 Government consumption expenditures and gross
investment ....................................................................
104 Previously published ......................................................
105 Federal ..........................................................................
106
Previously published ..................................................
107
National defense ........................................................
108
Previously published...............................................
109
Consumption expenditures.....................................
110
Previously published...........................................
111
Gross investment....................................................
112
Previously published...........................................
113
Nondefense................................................................
114
Previously published...............................................
115
Consumption expenditures.....................................
116
Previously published...........................................
117
Gross investment....................................................
118
Previously published...........................................
119 State and local .............................................................
120
Previously published ..................................................
121
Consumption expenditures ........................................
122
Previously published...............................................
123
Gross investment .......................................................
124
Previously published...............................................
2010
2011
2012
2013
2010
2011
2012
2013
2014 Line
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
0.17
0.17
0.05
0.05
0.12
0.12
–0.01
–0.01
0.43
0.43
0.10
0.10
0.07
0.07
–0.02
–0.02
0.04
0.04
0.05
0.05
–0.07
–0.07
1.45
1.45
–0.04
–0.04
1.49
1.49
–0.46
–0.51
1.33
1.28
1.08
1.08
0.25
0.20
–1.79
–1.79
–1.69
–1.72
–0.10
–0.07
0.03
0.04
–0.01
–0.01
0.04
0.05
0.22
0.16
0.29
0.27
0.13
0.14
0.13
0.17
0.11
0.10
0.02
0.05
0.00
0.01
0.01
0.01
–0.14
–0.16
0.07
0.02
–0.20
–0.18
–0.02
0.10
0.87
0.89
0.57
0.63
0.29
0.27
–0.89
–0.79
–0.78
–0.70
–0.11
–0.09
0.06
0.05
0.02
0.03
0.03
0.02
0.05
0.06
0.21
0.25
0.05
0.05
0.15
0.13
0.10
0.10
0.03
0.03
0.02
0.00
0.33
0.32
0.15
0.20
–0.07
–0.03
0.22
0.22
0.04
0.10
0.44
0.48
0.34
0.36
0.10
0.12
–0.40
–0.38
–0.30
–0.30
–0.10
–0.07
0.05
0.06
0.00
0.00
0.05
0.06
0.05
0.04
0.08
0.01
0.07
0.07
0.13
0.12
0.05
0.08
0.06
0.03
0.01
0.01
0.33
0.33
0.06
0.16
0.13
0.23
–0.07
–0.06
0.22
0.12
0.41
0.36
0.26
0.22
0.15
0.14
–0.19
–0.24
–0.13
–0.17
–0.06
–0.07
0.19
0.19
–0.03
–0.03
0.22
0.22
0.14
0.14
0.08
0.08
0.16
0.16
0.19
0.19
0.09
0.09
0.06
0.06
0.04
0.04
0.19
0.19
–1.63
–1.64
0.02
0.02
–1.66
–1.66
1.12
1.32
1.53
1.47
0.99
1.07
0.54
0.40
–0.41
–0.15
–0.36
–0.22
–0.05
0.07
–0.24
–0.15
–0.11
–0.09
–0.13
–0.06
0.36
0.22
0.31
0.26
0.16
0.25
0.05
0.14
0.14
0.13
–0.03
0.04
–0.06
–0.03
–0.02
0.04
–0.96
–1.06
0.30
0.11
–1.27
–1.17
–0.24
0.01
0.27
0.48
0.24
0.38
0.03
0.09
–0.51
–0.46
–0.73
–0.61
0.22
0.14
0.17
0.14
0.16
0.14
0.01
0.00
0.06
0.00
–0.03
0.04
0.02
0.05
0.12
0.18
0.16
0.13
–0.02
0.06
–0.02
–0.01
0.13
0.07
1.04
0.72
–0.02
–0.02
1.06
0.74
0.31
0.53
0.82
0.64
0.45
0.34
0.37
0.30
–0.51
–0.11
–0.11
0.10
–0.40
–0.21
0.05
–0.01
0.08
0.03
–0.03
–0.03
0.38
0.33
0.52
0.43
0.36
0.24
0.19
0.20
0.17
0.14
0.00
0.05
0.01
0.01
0.19
0.15
–2.10
–1.60
0.08
0.08
–2.18
–1.68
0.01
0.10
0.57
0.92
0.32
0.53
0.25
0.39
–0.56
–0.82
–0.32
–0.50
–0.24
–0.32
–0.04
0.05
–0.05
0.06
0.01
–0.01
0.29
0.23
0.49
0.47
–0.25
–0.20
0.26
0.21
0.15
0.16
0.07
0.03
0.03
0.02
0.28
0.29
2.80
2.73
0.05
0.05
2.75
2.68
–0.21
–0.60
0.56
0.38
0.76
0.72
–0.20
–0.35
–0.76
–0.98
–0.76
–0.93
0.00
–0.05
0.18
0.23
0.09
0.11
0.09
0.12
–0.26
–0.19
0.22
0.30
0.03
0.11
0.03
0.05
0.03
0.03
–0.02
0.03
0.02
–0.01
0.59
0.53
–0.20
0.36
–0.06
0.08
–0.15
0.27
–0.11
0.44
0.19
0.56
0.15
0.17
0.03
0.39
–0.29
–0.12
–0.27
–0.12
–0.02
0.00
–0.09
–0.20
–0.03
–0.10
–0.06
–0.10
0.03
0.12
0.08
0.29
0.01
0.08
0.19
0.07
0.11
0.11
0.06
–0.03
0.02
0.00
0.11
0.15
0.27
–0.91
–0.14
–0.14
0.41
–0.76
–0.04
0.10
0.64
0.51
0.49
0.48
0.15
0.03
–0.68
–0.41
–0.57
–0.35
–0.11
–0.06
–0.13
–0.08
–0.13
–0.19
–0.01
0.11
–0.01
0.00
–0.15
–0.25
0.32
0.10
0.10
0.11
0.04
0.06
0.05
0.04
0.01
0.00
0.36
0.35
–0.19
0.60
–0.29
–0.32
0.10
0.91
0.39
–0.03
0.28
0.05
0.19
0.16
0.09
–0.10
0.10
–0.08
0.17
–0.05
–0.07
–0.03
0.25
0.31
0.18
0.28
0.07
0.04
0.07
0.07
0.09
0.01
0.03
0.07
0.19
0.21
0.06
0.16
0.11
0.05
0.02
0.01
0.52
0.50
–1.80
–2.00
0.14
0.10
–1.95
–2.09
0.79
0.68
0.19
0.15
–0.30
–0.28
0.50
0.43
0.59
0.53
0.68
0.50
–0.09
0.03
0.03
–0.05
–0.06
–0.08
0.09
0.04
0.03
0.00
0.08
–0.10
0.15
0.24
0.24
0.14
0.16
0.13
0.07
–0.01
0.01
0.02
0.22
0.34
0.70
0.93
0.36
0.88
0.35
0.06
–0.08
–0.28
–0.12
–0.18
–0.09
–0.27
–0.03
0.09
0.04
–0.10
–0.08
0.03
0.12
–0.13
0.09
0.16
–0.06
–0.08
0.15
0.23
0.00
–0.01
0.12
0.08
–0.12
–0.04
–0.08
–0.06
–0.15
–0.11
0.06
0.04
0.01
0.01
0.53
0.40
0.30
0.41
0.10
0.12
0.19
0.30
–0.54
–0.07
0.82
1.04
0.74
0.84
0.09
0.20
–1.36
–1.10
–1.13
–1.00
–0.23
–0.11
0.08
0.03
0.03
0.01
0.05
0.03
0.20
0.18
0.05
0.04
–0.07
–0.23
0.11
0.22
0.12
0.14
–0.01
0.08
–0.01
–0.01
0.34
0.31
1.49
1.67
0.17
0.12
1.32
1.55
0.59
0.14
0.67
0.52
0.52
0.52
0.15
0.01
–0.09
–0.39
–0.01
–0.32
–0.08
–0.07
–0.07
–0.01
0.11
0.13
–0.18
–0.14
0.02
–0.04
0.45
0.33
0.36
0.31
0.14
0.15
0.07
0.05
0.06
0.09
0.01
0.02
–0.28
–0.26
–0.34
–0.02
0.01
–0.05
–0.35
0.03
1.08
0.99
1.30
1.23
1.20
1.06
0.10
0.17
–0.22
–0.24
–0.12
–0.18
–0.09
–0.06
–0.13 61
–0.19 62
–0.22 63
–0.23 64
0.09 65
0.04 66
0.17 67
0.16 68
0.00 69
–0.05 70
–0.09 71
–0.08 72
0.18 73
0.24 74
0.03 75
0.03 76
0.14 77
0.20 78
0.01 79
0.02 80
–0.17 81
–0.13 82
–1.16 83
–1.70 84
–0.23 85
–0.07 86
–0.93 87
–1.63 88
–1.66 89
–1.53 90
–1.30 91
–1.25 92
–1.18 93
–1.12 94
–0.12 95
–0.12 96
–0.36 97
–0.29 98
–0.33 99
–0.25 100
–0.03 101
–0.03 102
0.02
0.02
0.37
0.37
0.18
0.18
0.16
0.16
0.02
0.02
0.19
0.19
0.13
0.13
0.06
0.06
–0.35
–0.35
–0.27
–0.27
–0.08
–0.08
–0.65
–0.68
–0.24
–0.23
–0.13
–0.13
–0.07
–0.06
–0.06
–0.07
–0.11
–0.10
–0.11
–0.09
0.00
0.00
–0.41
–0.46
–0.27
–0.30
–0.14
–0.16
–0.30
–0.20
–0.15
–0.12
–0.18
–0.17
–0.12
–0.11
–0.06
–0.06
0.03
0.05
0.05
0.08
–0.02
–0.02
–0.15
–0.08
–0.02
0.00
–0.12
–0.08
–0.39
–0.43
–0.45
–0.41
–0.33
–0.35
–0.24
–0.31
–0.09
–0.05
–0.12
–0.06
–0.08
–0.04
–0.04
–0.02
0.06
–0.02
0.12
0.03
–0.06
–0.06
–0.87
–0.87
–0.23
–0.23
–0.19
–0.19
–0.25
–0.25
0.06
0.06
–0.04
–0.04
–0.05
–0.05
0.01
0.01
–0.63
–0.63
–0.35
–0.35
–0.28
–0.28
–1.60
–1.61
–0.95
–0.94
–0.81
–0.83
–0.47
–0.47
–0.35
–0.36
–0.14
–0.11
–0.16
–0.13
0.02
0.02
–0.65
–0.67
–0.38
–0.33
–0.28
–0.34
–0.08
–0.25
0.14
0.16
0.36
0.36
0.28
0.31
0.08
0.06
–0.22
–0.21
–0.18
–0.17
–0.04
–0.04
–0.22
–0.41
–0.11
–0.26
–0.11
–0.15
–0.52
–0.52
–0.35
–0.29
0.11
0.13
0.16
0.19
–0.06
–0.06
–0.45
–0.42
–0.42
–0.39
–0.03
–0.03
–0.17
–0.23
–0.10
–0.17
–0.07
–0.06
–0.31
–0.31
–0.21
–0.25
–0.53
–0.57
–0.53
–0.58
0.00
0.00
0.32
0.32
0.35
0.38
–0.03
–0.06
–0.10
–0.05
–0.05
–0.04
–0.05
–0.01
–0.56
–0.28
–0.25
–0.20
–0.40
–0.36
–0.18
–0.11
–0.22
–0.25
0.15
0.16
0.16
0.18
0.00
–0.02
–0.31
–0.08
–0.08
0.10
–0.23
–0.18
–0.08
0.05
–0.08
–0.02
–0.06
–0.05
–0.14
–0.13
0.08
0.08
–0.01
0.04
–0.01
0.03
–0.01
0.00
0.00
0.07
0.03
0.03
–0.04
0.04
0.52
0.67
0.59
0.69
0.58
0.60
0.62
0.61
–0.04
–0.01
0.01
0.08
0.03
0.08
–0.02
0.00
–0.07
–0.02
0.11
0.12
–0.18
–0.14
–1.20
–1.31
–1.10
–1.19
–1.12
–1.22
–0.97
–1.14
–0.15
–0.08
0.02
0.03
0.03
0.05
–0.01
–0.02
–0.10
–0.12
0.07
–0.01
–0.17
–0.11
–0.75
–0.82
–0.79
–0.68
–0.55
–0.57
–0.35
–0.38
–0.20
–0.18
–0.24
–0.11
–0.17
–0.05
–0.07
–0.05
0.04
–0.14
0.16
0.01
–0.12
–0.16
0.04
–0.07
–0.26
–0.12
–0.09
–0.03
–0.05
–0.12
–0.05
0.09
–0.17
–0.09
–0.12
–0.08
–0.04
–0.02
0.31
0.05
0.15
0.04
0.15
0.01
0.04
0.08
–0.08
–0.11
0.03
–0.02
0.02
–0.06
0.00
0.04
–0.11
–0.09
–0.08
–0.09
–0.03
0.00
0.13
0.19
0.12
0.04
0.00
0.15
–0.71
–0.99
–0.79
–1.00
–0.55
–0.70
–0.48
–0.53
–0.06
–0.17
–0.24
–0.29
–0.20
–0.26
–0.04
–0.03
0.07
0.00
0.09
0.04
–0.02
–0.04
–0.15
–0.14
–0.01
0.05
–0.18
–0.11
0.12
0.11
–0.30
–0.22
0.17
0.16
0.21
0.17
–0.04
–0.01
–0.14
–0.18
0.08
0.06
–0.22
–0.24
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
See “Explanatory Note” at the end of the tables.
- 17 -
Table 3A. Gross Domestic Product and Related Measures—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
2010
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 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 ...........................................................
Information processing equipment ..................
Computers and peripheral equipment .........
Other............................................................
Industrial equipment ........................................
Transportation equipment................................
Other equipment..............................................
Intellectual property products..............................
Software ..........................................................
Research and development.............................
Entertainment, literary, and artistic originals....
Residential ..............................................................
2011
2012
2013
2010
Line
I
II
III
IV
14,964.4
10,202.2
3,362.8
1,070.7
342.0
250.4
312.7
165.6
2,292.1
15,517.9
10,689.3
3,596.5
1,125.3
363.5
260.7
321.0
180.2
2,471.1
16,163.2
11,083.1
3,741.9
1,192.1
395.1
271.1
334.8
191.1
2,549.8
16,768.1
11,484.3
3,851.2
1,249.3
417.7
280.9
348.7
202.0
2,601.9
14,681.1
10,044.5
3,304.9
1,040.2
321.3
247.8
309.1
161.9
2,264.7
14,888.6
10,137.7
3,325.6
1,064.7
337.4
251.9
312.6
162.9
2,260.9
15,057.7
10,233.4
3,362.4
1,075.1
345.8
249.7
313.6
165.9
2,287.3
15,230.2
10,393.2
3,458.4
1,102.8
363.4
252.3
315.6
171.6
2,355.6
1
2
3
4
5
6
7
8
9
788.9
320.6
333.4
849.2
6,839.4
829.1
338.9
409.6
893.5
7,092.8
854.9
353.7
415.5
925.7
7,341.3
872.2
360.7
408.3
960.7
7,633.2
785.4
316.1
328.5
834.7
6,739.7
782.0
318.9
317.6
842.4
6,812.0
786.6
319.5
326.9
854.3
6,871.0
801.6
327.7
360.7
865.5
6,934.8
10
11
12
13
14
6,564.0
1,909.0
1,690.7
292.9
385.1
617.7
763.2
905.4
6,817.8
1,959.9
1,764.7
308.1
400.6
649.5
795.8
939.3
7,052.8
2,009.0
1,854.7
319.9
418.4
685.0
788.4
977.4
7,327.5
2,086.3
1,920.3
332.6
436.0
714.7
826.7
1,010.9
6,463.8
1,898.4
1,654.5
289.0
380.5
607.1
740.5
893.8
6,534.7
1,899.8
1,678.8
291.7
380.9
614.7
764.7
904.1
6,596.3
1,912.4
1,703.1
294.0
387.9
620.6
768.1
910.3
6,661.3
1,925.3
1,726.4
297.1
391.0
628.4
779.6
913.5
15
16
17
18
19
20
21
22
275.4
1,105.9
275.0
1,139.6
288.5
1,196.1
305.6
1,242.9
275.9
1,085.4
277.3
1,101.0
274.7
1,113.1
273.5
1,124.0
23
24
830.5
2,100.8
2,039.3
1,658.2
362.0
731.8
276.7
81.3
195.4
152.9
127.5
174.7
564.3
252.0
240.2
72.2
864.6
2,239.9
2,198.1
1,812.1
381.6
838.2
277.7
76.4
201.3
190.5
173.9
196.2
592.2
269.8
250.0
72.4
907.6
2,479.2
2,414.3
1,972.0
446.9
904.1
280.8
78.3
202.5
201.4
211.4
210.4
621.0
284.1
261.1
75.8
937.2
2,648.0
2,573.9
2,054.0
457.2
949.7
286.5
77.6
208.9
209.8
228.2
225.3
647.1
294.5
274.9
77.7
809.6
1,989.5
1,977.5
1,594.4
352.4
682.7
271.9
84.8
187.1
143.7
101.5
165.7
559.2
254.4
236.6
68.3
823.7
2,092.7
2,042.6
1,641.8
364.5
719.0
273.3
83.2
190.1
152.5
121.4
171.9
558.3
248.9
237.5
71.9
838.3
2,164.6
2,043.0
1,677.4
361.1
751.2
277.1
79.5
197.6
154.6
141.6
177.9
565.1
250.7
240.6
73.9
850.6
2,156.5
2,094.1
1,719.3
370.1
774.4
284.7
77.6
207.0
160.9
145.5
183.3
574.8
253.9
246.1
74.9
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
381.1
386.0
442.3
519.9
383.1
400.8
365.6
374.7
41
See “Explanatory Note” at the end of the tables.
- 18 -
Table 3A. Gross Domestic Product and Related Measures—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
I
II
Line
III
IV
42 Change in private inventories..................................
61.5
41.8
64.9
74.1
12.1
50.1
121.5
62.4
43
Farm........................................................................
–7.3
2.1
–8.7
12.4
–1.3
–5.9
–11.6
–10.5
44
Nonfarm ..................................................................
68.9
39.7
73.5
61.7
13.3
56.1
133.2
72.8
45 Net exports of goods and services.............................
–512.7
–580.0
–568.3
–508.2
–488.7
–523.2
–535.0
–503.7
46 Exports ......................................................................
1,852.3
2,106.4
2,194.2
2,262.2
1,753.2
1,814.0
1,869.8
1,972.2
47
Goods......................................................................
1,279.6
1,466.9
1,527.2
1,562.8
1,208.7
1,256.4
1,288.0
1,365.3
48
Services ..................................................................
572.7
639.5
667.0
699.4
544.5
557.6
581.9
607.0
49 Imports.......................................................................
2,365.0
2,686.4
2,762.5
2,770.4
2,241.9
2,337.3
2,404.9
2,475.9
50
Goods......................................................................
1,949.8
2,244.7
2,306.0
2,302.3
1,838.6
1,928.7
1,984.2
2,047.9
51
Services ..................................................................
415.2
441.6
456.4
468.1
403.4
408.6
420.7
428.0
52 Government consumption expenditures and gross
investment .................................................................
3,174.0
3,168.7
3,169.2
3,143.9
3,135.7
3,181.5
3,194.7
3,184.2
53 Federal .......................................................................
1,303.9
1,303.5
1,291.4
1,231.5
1,269.2
1,304.6
1,321.6
1,320.1
54
National defense .....................................................
832.8
836.9
818.0
769.9
811.9
829.3
846.3
843.5
55
Consumption expenditures..................................
653.2
662.3
650.5
616.4
637.8
650.2
665.6
659.2
56
Gross investment.................................................
179.6
174.7
167.5
153.5
174.2
179.1
180.7
184.2
57
Nondefense.............................................................
471.1
466.5
473.4
461.6
457.3
475.2
475.3
476.6
58
Consumption expenditures..................................
350.7
343.8
353.1
346.6
341.3
354.9
353.2
353.4
59
Gross investment.................................................
120.4
122.7
120.2
115.0
115.9
120.4
122.2
123.2
60 State and local ..........................................................
1,870.2
1,865.3
1,877.8
1,912.4
1,866.5
1,876.9
1,873.1
1,864.2
61
Consumption expenditures .....................................
1,518.3
1,524.8
1,546.1
1,584.5
1,521.2
1,521.0
1,515.4
1,515.6
62
Gross investment ....................................................
351.9
340.5
331.6
327.8
345.3
355.8
357.6
348.6
63 Residual.......................................................................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ..........................
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
Addenda:
64
65
66
67
68
69
70
71
72
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..................................................
Gross domestic income ..............................................
14,902.8
15,477.0
15,415.5
14,964.4
720.0
514.1
15,170.3
12,582.8
14,915.2
15,476.2
16,097.9
16,056.2
15,517.9
792.6
546.0
15,764.6
13,067.3
15,556.3
16,098.3
16,731.5
16,666.6
16,163.2
793.8
566.5
16,390.5
13,633.0
16,372.3
See “Explanatory Note” at the end of the tables.
- 19 -
16,694.0
17,276.2
17,202.2
16,768.1
810.4
586.1
16,992.4
14,140.8
16,980.0
14,669.0
15,169.8
15,157.7
14,681.1
696.6
493.0
14,884.7
12,311.2
14,623.2
14,838.5
15,411.8
15,361.7
14,888.6
712.0
506.7
15,093.9
12,513.7
14,790.4
14,936.1
15,592.7
15,471.1
15,057.7
720.5
520.8
15,257.4
12,675.2
15,051.5
15,167.8
15,733.9
15,671.5
15,230.2
751.0
535.7
15,445.4
12,831.1
15,195.4
64
65
66
67
68
69
70
71
72
Table 3A. Gross Domestic Product and Related Measures—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
II
2012
III
Gross domestic product....................................... 15,238.4 15,460.9 15,587.1
Personal consumption expenditures.......................... 10,523.5 10,651.4 10,754.5
Goods ........................................................................ 3,534.0 3,588.0 3,613.0
Durable goods......................................................... 1,115.3 1,112.3 1,123.8
Motor vehicles and parts .....................................
366.7
353.3
357.2
Furnishings and durable household equipment
254.7
259.4
262.4
Recreational goods and vehicles ........................
318.3
319.5
321.4
Other durable goods............................................
175.5
180.1
182.8
Nondurable goods................................................... 2,418.7 2,475.6 2,489.2
Food and beverages purchased for off-premises
consumption ....................................................
815.4
827.8
834.8
Clothing and footwear..........................................
331.9
338.0
340.4
Gasoline and other energy goods .......................
392.7
418.3
416.9
Other nondurable goods......................................
878.7
891.5
897.1
Services ..................................................................... 6,989.6 7,063.4 7,141.4
Household consumption expenditures (for
services).............................................................. 6,717.7 6,790.4 6,861.7
Housing and utilities ............................................ 1,934.8 1,950.6 1,975.2
Health care.......................................................... 1,739.7 1,759.6 1,766.6
Transportation services .......................................
301.0
306.8
310.8
Recreation services.............................................
391.6
400.3
403.9
Food services and accommodations...................
637.8
645.2
654.7
Financial services and insurance ........................
786.7
793.1
804.6
Other services .....................................................
926.2
934.8
945.8
Final consumption expenditures of nonprofit
271.8
273.0
279.7
institutions serving households ...........................
Gross output of nonprofit institutions................... 1,126.3 1,136.5 1,140.2
Less: Receipts from sales of goods and services
854.5
863.4
860.4
by nonprofit institutions....................................
Gross private domestic investment ............................ 2,123.5 2,212.7 2,228.2
Fixed investment....................................................... 2,097.2 2,149.6 2,243.1
Nonresidential ......................................................... 1,722.4 1,768.5 1,854.5
Structures............................................................
343.2
371.3
397.1
Equipment ...........................................................
798.3
809.7
861.7
Information processing equipment ..................
275.0
279.2
279.3
Computers and peripheral equipment .........
72.1
77.4
79.3
Other............................................................
203.0
201.9
200.0
Industrial equipment ........................................
176.5
180.6
196.6
Transportation equipment................................
158.2
158.9
179.3
Other equipment..............................................
188.5
190.9
206.5
Intellectual property products..............................
580.9
587.5
595.7
Software ..........................................................
260.2
266.5
273.4
Research and development.............................
247.9
249.1
250.3
Entertainment, literary, and artistic originals....
72.8
72.0
72.1
Residential ..............................................................
374.8
381.1
388.6
IV
I
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
15,785.3 15,956.5 16,094.7 16,268.9 16,332.5 16,502.4 16,619.2 16,872.3 17,078.3 17,044.0 17,294.7
10,827.9 10,959.7 11,030.6 11,119.8 11,222.6 11,351.1 11,414.3 11,518.7 11,653.3 11,728.5 11,867.9
3,650.9 3,709.6 3,717.2 3,751.9 3,788.8 3,832.2 3,821.0 3,865.3 3,886.1 3,890.6 3,969.3
1,149.8 1,177.3 1,179.4 1,195.4 1,216.1 1,237.8 1,245.4 1,252.4 1,261.5 1,262.3 1,301.0
376.5
386.2
388.9
397.1
408.1
414.8
415.5
417.5
422.8
426.9
447.4
266.2
272.2
269.2
270.2
272.5
278.1
280.1
282.5
283.0
281.7
287.2
324.7
331.8
332.5
335.8
339.1
344.7
347.9
350.6
351.5
350.6
359.5
182.4
187.1
188.7
192.3
196.3
200.2
201.9
201.7
204.2
203.1
206.8
2,501.1 2,532.3 2,537.8 2,556.5 2,572.8 2,594.4 2,575.6 2,612.9 2,624.6 2,628.4 2,668.4
1
2
3
4
5
6
7
8
9
838.7
345.5
410.4
906.6
7,177.0
847.6
352.7
413.0
919.1
7,250.1
853.2
351.0
411.7
921.8
7,313.3
856.8
355.5
417.1
927.1
7,367.9
862.1
355.7
420.1
934.8
7,433.8
870.7
360.6
416.0
947.1
7,518.9
866.3
360.7
397.6
951.1
7,593.2
873.1
878.6
360.6
361.0
412.6
407.1
966.7
977.9
7,653.4 7,767.2
879.4
357.8
407.1
984.0
7,837.8
885.8
366.2
409.6
1,006.8
7,898.6
10
11
12
13
14
6,901.6
1,978.7
1,793.0
313.9
406.4
660.3
798.8
950.4
6,971.8
1,977.6
1,827.8
316.3
413.4
672.8
794.7
969.2
7,025.7
2,004.6
1,843.1
319.1
416.5
680.7
788.5
973.3
7,081.1
2,023.9
1,868.8
321.3
420.3
687.9
781.1
977.8
7,132.6
2,030.0
1,879.1
322.9
423.5
698.4
789.5
989.2
7,223.0
2,067.0
1,890.9
329.2
431.5
707.1
801.9
995.4
7,289.9
2,082.6
1,907.4
330.2
432.0
710.5
819.9
1,007.4
7,345.5
2,085.6
1,926.8
333.7
438.5
713.6
833.0
1,014.2
7,451.7
2,110.1
1,956.2
337.4
442.0
727.5
852.0
1,026.4
7,518.4
2,160.3
1,951.7
339.2
442.7
730.8
861.0
1,032.8
7,571.8
2,157.9
1,963.8
342.6
447.9
745.6
869.0
1,045.0
15
16
17
18
19
20
21
22
275.4
1,155.3
278.3
1,177.2
287.6
1,187.0
286.8
1,205.2
301.1
1,214.9
295.9
1,217.0
303.3
1,235.4
307.9
1,245.9
315.5
1,273.2
319.4
1,267.3
326.8
1,276.1
23
24
879.9
2,395.2
2,302.5
1,902.9
415.0
883.3
277.1
76.8
200.4
208.1
199.2
198.8
604.6
279.1
252.7
72.8
899.0
2,445.4
2,364.3
1,942.0
437.0
894.9
284.9
80.4
204.5
198.9
209.8
201.2
610.1
280.0
255.9
74.3
899.4
2,489.3
2,397.1
1,968.8
452.5
897.1
280.3
78.7
201.6
201.0
212.9
202.9
619.2
284.4
259.4
75.4
918.4
2,500.4
2,424.7
1,978.3
452.2
901.4
274.3
73.6
200.8
200.9
208.5
217.7
624.7
285.0
263.2
76.4
913.8
2,481.5
2,471.0
1,998.7
445.9
922.8
283.7
80.5
203.2
204.6
214.6
219.9
630.0
287.0
266.0
77.0
921.1
2,543.3
2,499.1
2,010.3
435.4
933.1
283.6
77.8
205.8
205.7
218.0
225.8
641.8
294.9
269.7
77.2
932.2
2,594.6
2,543.8
2,026.9
448.5
937.0
286.9
75.4
211.5
205.4
222.9
221.8
641.4
290.1
273.9
77.4
938.0
957.7
2,708.9 2,745.2
2,598.1 2,654.6
2,060.2 2,118.7
463.0
481.7
948.8
980.0
289.6
286.0
76.4
80.8
213.2
205.2
213.6
214.5
226.5
245.2
219.1
234.3
648.4
657.0
295.2
297.8
275.5
280.8
77.7
78.4
947.9
2,714.4
2,674.3
2,134.6
487.9
979.5
280.3
71.4
209.0
222.7
245.3
231.1
667.2
298.9
289.1
79.3
949.3
2,829.3
2,719.4
2,169.9
495.6
999.2
294.7
73.0
221.8
233.7
245.8
224.9
675.1
302.4
293.0
79.8
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
399.6
422.3
428.3
446.4
472.3
488.9
516.9
539.7
549.5
41
See “Explanatory Note” at the end of the tables.
- 20 -
538.0
535.9
Table 3A. Gross Domestic Product and Related Measures—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
I
II
2012
III
IV
I
II
2013
III
42 Change in private inventories..................................
26.3
63.0
–14.9
92.6
81.1
92.2
75.7
43
Farm........................................................................
0.5
–1.3
3.8
5.3
2.8
–4.5
–20.7
44
Nonfarm ..................................................................
25.7
64.3
–18.7
87.4
78.3
96.7
96.5
45 Net exports of goods and services............................. –562.5 –586.9 –572.4 –598.1 –614.8 –588.5 –541.7
46 Exports ...................................................................... 2,033.3 2,108.3 2,142.9 2,141.0 2,162.4 2,192.5 2,203.2
47
Goods...................................................................... 1,416.0 1,467.7 1,487.8 1,496.0 1,510.1 1,530.7 1,538.5
48
Services ..................................................................
617.3
640.6
655.1
645.0
652.3
661.8
664.7
49 Imports....................................................................... 2,595.8 2,695.3 2,715.3 2,739.1 2,777.1 2,781.1 2,745.0
50
Goods...................................................................... 2,172.5 2,251.7 2,263.6 2,291.1 2,327.2 2,326.2 2,287.7
51
Services ..................................................................
423.3
443.5
451.7
448.0
449.9
454.9
457.3
52 Government consumption expenditures and gross
investment ................................................................. 3,153.8 3,183.8 3,176.8 3,160.4 3,166.2 3,163.3 3,190.5
53 Federal ....................................................................... 1,298.1 1,314.9 1,305.9 1,294.9 1,291.4 1,290.0 1,314.3
54
National defense .....................................................
823.4
844.9
851.5
828.0
818.6
817.1
840.9
55
Consumption expenditures..................................
650.3
668.5
676.7
653.6
651.3
646.4
671.4
56
Gross investment.................................................
173.1
176.4
174.7
174.5
167.3
170.7
169.5
57
Nondefense.............................................................
474.7
470.0
454.5
466.9
472.8
472.9
473.4
58
Consumption expenditures..................................
350.2
346.7
332.3
345.9
352.0
352.2
353.5
59
Gross investment.................................................
124.5
123.3
122.2
121.0
120.8
120.7
119.9
60 State and local .......................................................... 1,855.8 1,869.0 1,870.9 1,865.5 1,874.8 1,873.3 1,876.2
61
Consumption expenditures ..................................... 1,515.6 1,529.6 1,530.4 1,523.6 1,539.7 1,537.0 1,545.4
62
Gross investment ....................................................
340.1
339.4
340.5
341.9
335.1
336.4
330.7
63 Residual.......................................................................... ............. .............. ............. .............. .............. ............. ..............
2014
Line
IV
I
II
III
IV
I
II
10.4
–12.2
22.6
–528.2
2,218.5
1,529.2
689.3
2,746.7
2,283.1
463.6
44.2
9.9
34.3
–528.0
2,219.4
1,528.4
691.0
2,747.4
2,288.6
458.8
50.8
10.5
40.3
–532.0
2,236.4
1,543.2
693.2
2,768.4
2,302.2
466.3
110.7
16.7
94.0
–509.9
2,268.4
1,565.7
702.7
2,778.3
2,308.6
469.7
90.5
12.4
78.2
–462.9
2,324.6
1,614.0
710.7
2,787.5
2,309.7
477.8
40.1
3.1
37.0
–538.0
2,284.7
1,575.3
709.5
2,822.7
2,341.5
481.2
109.9
7.0
103.0
–564.0
2,334.8
1,617.1
717.7
2,898.7
2,412.6
486.1
42
43
44
45
46
47
48
49
50
51
3,156.6 3,135.9 3,142.4 3,154.7 3,142.7 3,139.1 3,161.5
1,269.9 1,241.9 1,234.1 1,233.9 1,216.2 1,208.1 1,210.4
795.4
775.1
772.2
774.9
757.5
749.9
754.5
632.8
620.3
618.8
621.1
605.5
610.5
610.3
162.7
154.8
153.4
153.8
152.0
139.4
144.2
474.4
466.8
461.9
459.0
458.7
458.2
455.8
354.9
349.9
346.4
344.6
345.6
346.7
345.3
119.6
116.9
115.5
114.4
113.1
111.6
110.5
1,886.8 1,894.0 1,908.3 1,920.7 1,926.5 1,931.0 1,951.1
1,562.4 1,573.3 1,579.7 1,590.2 1,594.9 1,607.4 1,616.6
324.4
320.7
328.5
330.5
331.6
323.6
334.5
............. .............. ............. .............. .............. ............. ..............
52
53
54
55
56
57
58
59
60
61
62
63
16,322.1
16,860.7
16,850.3
16,332.5
799.3
573.7
16,558.0
13,774.1
16,633.8
64
65
66
67
68
69
70
71
72
Addenda:
64
65
66
67
68
69
70
71
72
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..................................................
Gross domestic income ..............................................
15,212.1
15,800.8
15,774.6
15,238.4
765.1
537.0
15,466.5
12,819.0
15,282.5
15,397.9
16,047.9
15,984.8
15,460.9
791.2
560.1
15,692.0
13,018.0
15,467.7
15,602.0
16,159.5
16,174.4
15,587.1
811.4
555.8
15,842.6
13,124.6
15,661.8
15,692.7
16,383.5
16,290.8
15,785.3
802.9
531.1
16,057.1
13,307.6
15,813.1
15,875.4
16,571.3
16,490.2
15,956.5
804.1
565.5
16,195.0
13,456.8
16,175.6
See “Explanatory Note” at the end of the tables.
- 21 -
16,002.5
16,683.2
16,591.0
16,094.7
786.3
555.9
16,325.0
13,572.9
16,276.3
16,193.2
16,810.7
16,734.9
16,268.9
785.7
570.7
16,484.0
13,728.0
16,403.5
16,458.2
17,030.4
16,986.2
16,502.4
791.2
582.4
16,711.2
13,917.0
16,752.7
16,568.4
17,151.2
17,100.4
16,619.2
804.4
589.5
16,834.0
14,006.4
16,909.3
16,761.6
17,382.2
17,271.5
16,872.3
814.2
583.4
17,103.1
14,232.1
17,060.0
16,987.8
17,541.2
17,450.6
17,078.3
831.8
588.9
17,321.2
14,407.8
17,197.8
17,003.9
17,582.0
17,541.8
17,044.0
822.6
611.6
17,255.0
14,345.3
17,225.4
17,184.8
17,858.7
17,748.8
17,294.7
..............
..............
..............
14,573.2
..............
Table 3B. Real Gross Domestic Product and Related Measures—Continues
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
II
Line
III
IV
Gross domestic product.......................................
14,783.8
15,020.6
15,369.2
15,710.3
14,604.8
14,745.9
14,845.5
14,939.0
Personal consumption expenditures..........................
10,036.3
10,263.5
10,449.7
10,699.7
9,917.7
9,998.4
10,063.1
10,166.1
Goods ........................................................................
3,308.7
3,411.8
3,506.5
3,626.0
3,247.0
3,288.0
3,319.1
3,380.5
Durable goods.........................................................
1,085.7
1,151.5
1,235.7
1,319.0
1,045.2
1,076.3
1,093.8
1,127.4
Motor vehicles and parts .....................................
323.4
333.8
357.9
376.0
306.2
319.7
325.7
342.0
Furnishings and durable household equipment
261.5
276.6
288.4
305.1
254.0
261.4
262.7
267.9
Recreational goods and vehicles ........................
336.8
370.2
410.8
452.0
324.1
333.8
341.0
348.3
Other durable goods............................................
164.9
173.9
183.5
194.4
162.2
162.5
165.4
169.4
Nondurable goods...................................................
2,223.5
2,263.2
2,280.1
2,322.6
2,201.6
2,212.1
2,226.0
2,254.5
Food and beverages purchased for off-premises
consumption ....................................................
786.5
795.1
801.6
809.4
786.1
780.6
783.8
795.4
Clothing and footwear..........................................
322.7
335.3
337.7
341.2
315.9
321.0
321.8
332.0
Gasoline and other energy goods .......................
282.2
274.3
269.2
271.7
279.3
282.5
284.2
282.8
Other nondurable goods......................................
833.0
863.2
879.7
909.9
821.0
828.4
836.6
845.8
Services .....................................................................
6,727.6
6,851.4
6,942.4
7,073.1
6,670.6
6,710.3
6,744.0
6,785.6
Household consumption expenditures (for
services)..............................................................
6,449.3
6,575.9
6,653.4
6,772.5
6,391.5
6,428.7
6,466.5
6,510.7
Housing and utilities ............................................
1,904.3
1,928.0
1,940.4
1,965.7
1,897.2
1,896.5
1,906.5
1,916.8
Health care..........................................................
1,649.2
1,690.3
1,745.0
1,781.1
1,626.0
1,640.9
1,657.1
1,672.8
Transportation services .......................................
287.1
294.1
299.6
307.6
284.6
286.2
288.0
289.6
Recreation services.............................................
381.0
389.6
396.1
405.7
379.1
377.0
382.4
385.3
Food services and accommodations...................
609.6
625.3
641.1
655.4
603.1
607.7
611.3
616.3
Financial services and insurance ........................
733.9
747.2
713.7
728.5
721.5
736.1
735.4
742.7
Other services .....................................................
884.3
901.2
918.1
928.9
880.3
884.1
885.7
887.0
Final consumption expenditures of nonprofit
278.3
275.2
289.3
301.2
279.2
281.7
277.4
274.8
institutions serving households ...........................
Gross output of nonprofit institutions...................
1,086.0
1,097.1
1,131.2
1,151.4
1,072.6
1,084.0
1,090.6
1,097.0
Less: Receipts from sales of goods and services
807.7
821.6
842.0
850.8
793.5
802.4
813.0
821.9
by nonprofit institutions....................................
Gross private domestic investment ............................
2,120.4
2,230.4
2,435.9
2,556.2
2,012.9
2,116.9
2,185.7
2,166.1
Fixed investment.......................................................
2,056.2
2,186.7
2,368.0
2,479.2
1,997.9
2,062.8
2,060.8
2,103.1
Nonresidential .........................................................
1,673.8
1,802.3
1,931.8
1,990.6
1,615.0
1,659.3
1,692.8
1,728.1
Structures............................................................
366.3
374.7
423.8
421.7
359.7
369.8
364.4
371.2
Equipment ...........................................................
746.7
847.9
905.6
947.2
697.7
735.2
766.2
787.8
Information processing equipment ..................
281.4
285.9
295.0
304.0
276.0
277.8
282.5
289.5
Computers and peripheral equipment ......... .......................... .......................... .......................... .......................... .......................... ......................... .......................... ..........................
Other............................................................
196.8
202.8
208.1
217.0
188.5
191.5
199.5
207.7
Industrial equipment ........................................
151.3
183.3
190.3
197.7
143.0
151.1
152.8
158.3
Transportation equipment................................
136.9
183.0
217.6
231.1
109.7
130.9
152.0
155.1
Other equipment..............................................
179.8
199.3
207.3
219.0
170.7
177.8
182.2
188.3
Intellectual property products..............................
561.3
581.3
603.7
624.1
557.6
554.7
563.0
570.0
Software ..........................................................
254.2
271.8
287.0
295.9
256.0
250.9
253.3
256.7
Research and development.............................
234.4
236.7
241.3
250.7
232.7
231.5
235.6
237.8
Entertainment, literary, and artistic originals....
72.7
73.1
76.1
78.0
68.9
72.3
74.0
75.4
Residential ..............................................................
382.4
384.5
436.5
488.4
383.0
403.5
368.1
375.1
1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for
gross domestic product.
NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other
prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
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.
- 22 -
Table 3B. Real Gross Domestic Product and Related Measures—Continues
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
I
42 Change in private inventories..................................
43
Farm........................................................................
44
Nonfarm ..................................................................
45 Net exports of goods and services.............................
46 Exports ......................................................................
47
Goods......................................................................
48
Services ..................................................................
49 Imports.......................................................................
50
Goods......................................................................
51
Services ..................................................................
52 Government consumption expenditures and gross
investment .................................................................
53 Federal .......................................................................
54
National defense .....................................................
55
Consumption expenditures..................................
56
Gross investment.................................................
57
Nondefense.............................................................
58
Consumption expenditures..................................
59
Gross investment.................................................
60 State and local ..........................................................
61
Consumption expenditures .....................................
62
Gross investment ....................................................
63 Residual..........................................................................
II
Line
III
IV
58.2
–7.0
65.9
–458.8
1,776.6
1,218.3
558.0
2,235.4
1,826.7
407.8
37.6
1.4
36.6
–459.4
1,898.3
1,297.6
600.6
2,357.7
1,932.1
424.2
57.0
–5.6
65.9
–452.5
1,960.1
1,344.9
614.7
2,412.6
1,973.1
438.7
63.5
7.6
55.2
–420.4
2,019.8
1,382.9
636.6
2,440.3
1,991.5
448.4
9.8
–3.0
12.9
–408.8
1,708.2
1,173.7
534.2
2,116.9
1,719.4
397.2
48.8
–5.8
54.6
–469.7
1,748.1
1,204.1
543.6
2,217.8
1,814.2
402.7
116.2
–9.9
126.8
–498.4
1,797.5
1,229.9
567.2
2,296.0
1,880.4
414.6
58.1
–9.5
69.1
–458.1
1,852.6
1,265.4
587.0
2,310.7
1,893.0
416.6
42
43
44
45
46
47
48
49
50
51
3,091.4
1,270.7
813.5
636.0
177.5
457.1
339.2
117.9
1,820.8
1,469.7
351.0
–6.4
2,997.4
1,236.4
795.0
626.2
168.7
441.4
323.5
118.0
1,761.0
1,430.4
330.3
–22.2
2,953.9
1,214.4
768.7
608.6
160.0
445.7
330.3
115.3
1,739.5
1,427.0
311.8
–38.7
2,894.5
1,145.3
717.7
571.8
145.7
427.5
318.2
109.3
1,748.4
1,444.7
302.8
–44.0
3,084.3
1,247.8
798.6
625.3
173.2
449.2
334.2
115.0
1,836.5
1,489.6
346.7
0.1
3,106.2
1,273.4
811.0
633.7
177.3
462.4
344.1
118.3
1,832.8
1,477.2
355.6
–5.6
3,103.5
1,285.0
825.9
647.1
178.8
459.1
340.1
119.0
1,818.5
1,462.4
356.2
–7.2
3,071.5
1,276.4
818.6
637.9
180.7
457.7
338.4
119.4
1,795.2
1,449.6
345.5
–11.3
52
53
54
55
56
57
58
59
60
61
62
63
14,722.2
15,244.9
15,183.6
14,783.8
647.1
461.6
14,970.8
12,401.1
14,735.2
14,979.0
15,483.9
15,442.5
15,020.6
694.8
478.7
15,241.0
12,607.2
15,057.7
15,304.3
15,824.6
15,760.1
15,369.2
684.2
488.0
15,567.3
12,912.3
15,568.1
15,636.7
16,131.0
16,057.9
15,710.3
690.0
498.9
15,902.4
13,203.2
15,908.8
14,591.5
15,013.6
15,000.6
14,604.8
628.8
444.9
14,790.0
12,232.1
14,547.3
14,694.3
15,218.4
15,167.1
14,745.9
641.7
456.3
14,932.9
12,366.9
14,648.6
14,724.5
15,347.9
15,227.3
14,845.5
647.2
467.4
15,026.4
12,459.5
14,839.5
14,878.3
15,399.8
15,339.4
14,939.0
670.6
478.0
15,133.8
12,545.8
14,904.9
64
65
66
67
68
69
70
71
72
Addenda:
64
65
66
67
68
69
70
71
72
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..................................................
Gross domestic income 1 ............................................
1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for
gross domestic product.
NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other
prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative
importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2.
See “Explanatory Note” at the end of the tables.
- 23 -
Table 3B. Real Gross Domestic Product and Related Measures—Continues
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
II
2012
III
Gross domestic product....................................... 14,881.3 14,989.6 15,021.1
Personal consumption expenditures.......................... 10,217.1 10,237.7 10,282.2
Goods ........................................................................ 3,404.9 3,398.2 3,405.5
Durable goods......................................................... 1,141.8 1,134.2 1,148.6
Motor vehicles and parts .....................................
342.7
324.2
325.2
Furnishings and durable household equipment
270.7
274.6
277.6
Recreational goods and vehicles ........................
357.9
364.9
373.7
Other durable goods............................................
171.3
173.8
176.2
Nondurable goods................................................... 2,265.1 2,265.6 2,259.7
Food and beverages purchased for off-premises
consumption ....................................................
797.5
797.1
793.9
Clothing and footwear..........................................
334.8
338.0
332.9
Gasoline and other energy goods .......................
280.2
273.1
272.7
Other nondurable goods......................................
855.1
862.9
865.5
Services ..................................................................... 6,812.0 6,839.2 6,876.6
Household consumption expenditures (for
services).............................................................. 6,539.3 6,565.8 6,596.5
Housing and utilities ............................................ 1,918.3 1,924.4 1,937.4
Health care.......................................................... 1,680.0 1,688.2 1,687.2
Transportation services .......................................
290.2
293.5
296.0
Recreation services.............................................
384.0
389.8
392.1
Food services and accommodations...................
622.1
623.3
626.4
Financial services and insurance ........................
748.0
746.6
752.6
Other services .....................................................
896.3
899.8
904.5
Final consumption expenditures of nonprofit
272.4
273.2
280.0
institutions serving households ...........................
Gross output of nonprofit institutions................... 1,093.2 1,096.0 1,094.6
Less: Receipts from sales of goods and services
820.5
822.5
814.6
by nonprofit institutions....................................
Gross private domestic investment ............................ 2,125.9 2,208.0 2,214.0
Fixed investment....................................................... 2,098.4 2,140.2 2,227.5
Nonresidential ......................................................... 1,724.1 1,761.0 1,840.8
Structures............................................................
343.0
366.7
388.2
Equipment ...........................................................
810.6
819.3
871.0
Information processing equipment ..................
279.8
286.6
288.9
Computers and peripheral equipment ......... ............. .............. .............
Other............................................................
202.5
203.0
202.2
Industrial equipment ........................................
171.8
174.1
188.2
Transportation equipment................................
168.1
167.1
188.5
Other equipment..............................................
194.4
194.9
209.0
Intellectual property products..............................
571.9
576.3
583.5
Software ..........................................................
262.2
268.4
275.2
Research and development.............................
236.5
235.7
235.9
Entertainment, literary, and artistic originals....
73.2
72.4
72.8
Residential ..............................................................
374.4
379.3
386.8
IV
I
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
15,190.3 15,275.0 15,336.7 15,431.3 15,433.7 15,538.4 15,606.6 15,779.9 15,916.2 15,831.7 15,985.7
10,316.8 10,387.6 10,420.2 10,470.4 10,520.6 10,613.7 10,660.4 10,713.3 10,811.4 10,844.3 10,910.5
3,438.5 3,478.0 3,489.0 3,516.9 3,542.3 3,593.7 3,605.2 3,636.1 3,669.0 3,678.3 3,733.7
1,181.5 1,212.0 1,218.8 1,242.4 1,269.7 1,295.7 1,310.0 1,325.9 1,344.5 1,355.0 1,400.2
343.0
351.4
351.7
359.5
369.1
374.1
374.0
375.5
380.5
385.7
401.6
283.4
288.7
285.8
287.6
291.5
297.7
301.8
308.8
312.1
312.7
322.5
384.1
397.8
404.9
415.2
425.5
438.0
448.5
457.7
464.1
468.3
483.2
174.5
178.4
181.4
185.4
188.9
192.4
194.0
193.7
197.7
198.1
202.4
2,262.4 2,273.4 2,278.0 2,284.1 2,285.0 2,311.7 2,310.5 2,326.4 2,341.8 2,341.9 2,356.7
1
2
3
4
5
6
7
8
9
792.0
335.4
271.5
869.4
6,877.7
797.6
340.4
267.4
876.6
6,908.8
800.9
334.5
271.7
877.7
6,930.5
803.3
339.0
270.9
878.5
6,952.8
804.7
337.0
266.7
886.1
6,977.5
810.2
341.1
270.5
899.3
7,019.3
804.6
808.9
342.7
339.4
270.4
272.9
902.2
914.4
7,054.5 7,076.6
814.0
341.5
272.9
923.5
7,141.9
811.9
338.3
274.4
926.8
7,165.4
808.9
344.0
271.8
943.4
7,177.3
10
11
12
13
14
6,602.1
1,931.9
1,706.0
296.9
392.5
629.2
741.4
904.0
6,630.2
1,924.3
1,732.4
297.3
394.7
635.9
729.0
916.3
6,642.5
1,942.1
1,737.5
298.6
395.6
638.0
717.1
914.2
6,663.1 6,677.7
1,951.7 1,943.3
1,752.7 1,757.5
301.0
301.5
396.4
397.8
641.8
648.8
702.8
706.0
918.1
923.8
6,723.4
1,967.2
1,759.1
305.4
403.8
653.6
715.1
920.3
6,757.7 6,775.4 6,833.4
1,966.9 1,959.6 1,969.1
1,774.6 1,786.0 1,804.7
307.1
307.9
310.0
403.6
407.2
408.2
651.9
652.3
663.7
727.1
730.8
741.1
927.0
931.9
936.6
6,857.1
1,996.0
1,798.4
311.4
406.2
661.5
746.2
937.3
6,863.0
1,979.7
1,801.4
313.2
409.0
668.2
748.2
943.0
15
16
17
18
19
20
21
22
275.2
278.3
1,104.4 1,121.4
288.1
1,124.5
289.8
1,138.4
296.3
1,136.0
297.2
1,146.2
309.1
1,159.4
315.5
1,161.5
23
24
828.8
842.6
836.5
848.5
840.5
840.3
849.4
850.4
863.0
851.3
847.5
2,373.7 2,413.7 2,448.0 2,457.7 2,424.3 2,469.0 2,510.7 2,610.3 2,634.7 2,588.2 2,691.8
2,280.6 2,330.7 2,355.6 2,373.7 2,412.0 2,428.0 2,457.0 2,496.8 2,535.0 2,536.1 2,572.7
1,883.1 1,910.1 1,930.6 1,934.5 1,951.9 1,959.0 1,966.8 1,993.3 2,043.3 2,051.5 2,079.1
400.9
418.5
429.0
427.5
420.1
407.5
414.7
425.8
438.8
441.9
447.6
890.8
898.7
900.9
902.5
920.4
931.3
934.8
945.6
977.2
974.8
991.4
288.2
297.1
294.3
289.1
299.6
300.3
304.1
307.4
304.1
298.1
312.9
.............. .............. ............. .............. ............. .............. .............. ............. .............. ............. ..............
203.4
208.4
206.9
207.1
210.1
213.4
219.6
221.5
213.7
217.6
230.6
198.9
188.9
190.0
189.7
192.5
193.5
193.6
201.5
202.3
209.0
218.8
208.5
217.4
220.6
214.4
217.9
221.4
226.4
228.7
247.9
247.8
247.3
199.0
200.3
200.7
213.5
214.8
220.5
215.6
212.7
227.3
223.6
216.7
593.3
594.4
601.8
605.6
613.2
622.8
619.8
624.1
629.6
636.8
642.3
281.2
282.2
286.8
288.3
290.8
297.3
291.1
296.2
298.9
300.0
302.8
238.6
237.8
239.8
241.6
245.8
248.6
251.0
250.6
252.8
258.2
260.7
74.0
75.0
75.9
76.5
77.1
77.6
78.1
77.8
78.4
78.8
79.0
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
397.6
1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for
gross domestic product.
NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other
prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative
420.8
425.3
439.5
300.7
1,140.4
460.3
469.0
489.8
301.9
1,151.7
503.0
309.5
1,171.7
491.9
485.3
494.2
41
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.
- 24 -
Table 3B. Real Gross Domestic Product and Related Measures—Table Ends
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
42 Change in private inventories..................................
43
Farm........................................................................
44
Nonfarm ..................................................................
45 Net exports of goods and services.............................
46 Exports.......................................................................
47
Goods......................................................................
48
Services ..................................................................
49 Imports.......................................................................
50
Goods......................................................................
51
Services ..................................................................
52 Government consumption expenditures and gross
investment .................................................................
53 Federal .......................................................................
54
National defense .....................................................
55
Consumption expenditures..................................
56
Gross investment.................................................
57
Nondefense.............................................................
58
Consumption expenditures..................................
59
Gross investment.................................................
60 State and local...........................................................
61
Consumption expenditures......................................
62
Gross investment ....................................................
63 Residual..........................................................................
2012
IV
I
2013
I
II
III
II
III
IV
25.1
0.2
25.2
–466.2
1,862.3
1,274.0
588.0
2,328.5
1,917.7
408.7
57.5
–0.2
58.9
–455.2
1,890.7
1,289.5
601.2
2,345.9
1,921.3
423.5
–13.0
2.1
–15.9
–454.3
1,910.6
1,300.5
610.3
2,364.9
1,931.8
432.4
80.8
70.9
3.4
0.7
78.3
71.8
–461.7 –465.7
1,929.7 1,936.0
1,326.2 1,331.2
603.0
604.2
2,391.3 2,401.7
1,957.8 1,967.2
432.4
433.2
78.9
–3.4
85.3
–466.7
1,958.9
1,348.5
609.7
2,425.5
1,986.8
437.5
71.2
–11.8
88.8
–453.0
1,969.1
1,355.3
613.2
2,422.1
1,981.2
440.1
7.2
–7.7
17.8
–424.5
1,976.5
1,344.7
631.8
2,401.0
1,957.2
443.8
I
33.4
43.4
3.2
6.2
30.1
36.4
–427.2 –446.0
1,972.3 2,002.8
1,341.8 1,368.9
630.4
633.6
2,399.5 2,448.8
1,959.8 2,000.1
439.2
448.2
II
3,012.2
1,241.2
788.4
620.7
167.6
452.7
332.7
120.1
1,771.1
1,435.8
335.1
–16.5
3,009.0
1,246.0
801.3
630.7
170.5
444.7
326.2
118.6
1,763.0
1,431.7
331.0
–16.5
2,990.0
1,233.3
805.1
636.7
168.3
428.2
311.1
117.3
1,756.8
1,428.0
328.4
–28.9
2,978.3
1,225.2
785.3
616.9
168.3
439.9
323.8
116.2
1,753.1
1,426.0
326.6
–25.8
2,957.8
1,216.0
770.4
610.2
160.0
445.6
329.6
116.0
1,741.7
1,423.3
317.9
–34.5
2,954.9
1,213.1
767.9
604.9
162.9
445.2
329.4
115.8
1,741.7
1,424.5
316.6
–35.2
2,974.4
1,235.4
789.8
628.1
161.4
445.6
330.6
115.0
1,739.2
1,428.8
309.7
–40.1
2,928.7
1,193.0
746.7
591.0
155.6
446.3
331.7
114.6
1,735.5
1,431.5
303.2
–46.6
2,899.8
1,162.5
725.5
577.6
147.8
436.9
325.2
111.6
1,736.8
1,437.3
298.6
–45.2
14,855.3
15,351.6
15,325.8
14,881.3
677.5
475.3
15,086.5
12,480.5
14,924.4
14,924.5
15,448.3
15,383.7
14,989.6
694.4
491.8
15,195.1
12,581.3
14,996.1
15,035.1
15,479.5
15,493.3
15,021.1
708.1
485.1
15,249.1
12,604.2
15,093.1
15,101.0
15,656.1
15,567.3
15,190.3
699.2
462.4
15,433.2
12,762.7
15,217.0
15,195.6
15,744.7
15,665.8
15,275.0
695.9
489.3
15,484.6
12,835.8
15,484.9
15,248.2
15,807.6
15,719.6
15,336.7
679.2
480.1
15,538.1
12,885.3
15,509.8
15,350.9
15,887.2
15,807.1
15,431.3
676.3
490.9
15,617.5
12,968.6
15,559.0
15,422.6
15,859.0
15,848.1
15,433.7
685.3
491.5
15,629.1
12,959.6
15,718.4
15,499.6
15,966.0
15,927.5
15,538.4
676.3
497.5
15,717.2
13,051.3
15,774.1
2014
Line
III
IV
I
II
95.6
10.8
84.0
–424.6
2,027.7
1,388.0
639.3
2,452.3
2,000.8
451.2
81.8
10.5
70.4
–384.0
2,076.5
1,433.0
642.9
2,460.5
2,005.3
455.1
35.2
2.2
33.3
–447.2
2,026.9
1,388.1
638.4
2,474.1
2,017.7
456.3
93.4
4.4
90.0
–470.3
2,073.4
1,430.7
642.0
2,543.7
2,081.7
461.0
42
43
44
45
46
47
48
49
50
51
2,901.2 2,902.4
1,152.2 1,148.7
721.8
722.6
575.6
576.4
145.9
145.9
430.4
426.1
320.4
317.4
110.0
108.7
1,748.3 1,753.0
1,443.0 1,447.6
304.5
304.6
–46.8
–42.4
2,874.5
1,117.8
701.0
557.4
143.4
416.7
309.7
107.0
1,755.7
1,451.1
303.7
–43.3
2,868.5
1,117.4
693.9
562.3
131.1
423.4
317.7
105.5
1,750.2
1,454.1
295.2
–45.6
2,880.0
1,115.3
695.7
559.8
135.6
419.4
315.0
104.3
1,763.7
1,458.8
304.0
–49.8
52
53
54
55
56
57
58
59
60
61
62
63
15,820.7
16,298.6
16,203.6
15,916.2
704.4
498.5
16,124.3
13,389.0
16,027.6
15,782.6
16,280.4
16,231.7
15,831.7
694.2
515.6
16,009.8
13,291.4
16,000.1
15,871.5
16,458.9
16,345.2
15,985.7
..............
..............
..............
13,431.8
..............
64
65
66
67
68
69
70
71
72
Addenda:
64
65
66
67
68
69
70
71
72
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 ..................................................
Gross domestic income 1 ............................................
1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for
gross domestic product.
NOTE. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other
prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative
15,555.5
16,054.5
16,003.8
15,606.6
687.0
503.4
15,790.6
13,106.3
15,879.1
15,671.0
16,205.0
16,096.7
15,779.9
692.2
495.9
15,977.6
13,266.3
15,955.4
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.
- 25 -
Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
2011
I
II
2012
III
IV
I
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
Gross domestic product (GDP)........................
1.2
2.1
1.8
1.5
2.1
1.8
3.0
2.3
0.6
2.1
1.8
2.1
1.3
1.3
1.2
1.7
1.5 1.3 2.0
Personal consumption expenditures..........................
1.7
2.5
1.8
1.2
2.1
3.0
4.1
2.1
1.4
2.1
1.3
1.3
1.8
1.0
0.5
1.7
1.0 1.4 2.3
Goods .........................................................................
1.6
3.7
1.2 –0.5
4.0
5.9
7.1
2.0
0.3
1.8 –0.4
0.5
1.0 –1.2 –2.4
1.2 –1.4 –0.6 2.1
Durable goods......................................................... –1.4 –0.9 –1.3 –1.8 –1.9 –0.5
1.6 –0.9 –2.1 –0.8 –1.5 –2.3 –1.8 –1.0 –1.9 –2.5 –2.6 –2.8 –1.1
Nondurable goods...................................................
3.1
5.9
2.4
0.2
6.9
9.1
9.6
3.3
1.4
3.1
0.1
1.9
2.4 –1.3 –2.7
3.0 –0.9 0.6 3.6
Services ......................................................................
1.7
1.8
2.1
2.1
1.2
1.6
2.6
2.2
1.9
2.3
2.2
1.7
2.2
2.2
2.0
1.9
2.3 2.3 2.5
Gross private domestic investment ............................ –0.9
1.4
1.4
1.8
2.1
1.3
1.8
1.1
0.9
1.7
1.3
1.5
1.2
1.8
2.3
2.1
2.2 2.4 0.8
Fixed investment ......................................................... –0.8
1.4
1.4
1.8
1.8
1.5
2.0
1.1
1.0
1.9
1.3
1.5
1.2
1.9
2.4
2.0
2.6 2.8 1.0
Nonresidential ......................................................... –0.9
1.5
1.5
1.1
1.6
1.7
2.2
1.3
1.2
2.5
1.2
1.1
0.5
0.9
1.7
1.2
1.3 1.4 1.2
Structures............................................................ –1.2
3.0
3.5
2.8
2.5
1.6
5.1
4.2
4.7
3.5
3.9
1.1
1.4
2.8
5.1
2.2
3.9 2.3 1.1
Equipment ........................................................... –2.0
0.9
1.0
0.4
1.0
0.8
1.4
0.4
0.9
1.6
0.0
1.2
1.6 –0.3
0.1
0.4 –0.2 0.8 1.2
Intellectual property products..............................
0.5
1.3
1.0
0.8
1.9
2.9
1.4
0.6 –0.7
2.9
1.0
1.0 –1.5
1.2
1.7
1.6
1.7 1.7 1.3
Residential .............................................................. –0.4
0.8
0.9
5.0
2.3
0.9
1.4
0.0
0.1 –0.6
1.5
3.5
4.1
6.5
5.1
5.5
7.6 8.6 –0.1
Change in private inventories ..................................... .......... .......... .......... .......... .......... .......... ......... .......... .......... ......... .......... .......... ......... .......... .......... ......... .......... ........ ........
Net exports of goods and services............................. .......... .......... .......... .......... .......... .......... ......... .......... .......... ......... .......... .......... ......... .......... .......... ......... .......... ........ ........
Exports .......................................................................
4.3
6.4
0.9
0.1
9.6 10.6
8.8
2.3 –4.2
2.7
0.8 –0.2
1.3
1.0 –3.0
0.7
0.3 2.8 –0.4
Goods......................................................................
5.0
7.6
0.4 –0.5 12.6 12.5
9.9
2.1 –5.5
2.3
0.3
0.0
0.7
0.6 –4.0
0.2 –0.6 3.1 –1.6
Services ..................................................................
2.6
3.7
1.9
1.3
3.2
6.3
6.1
2.9 –1.4
3.7
2.2 –0.5
2.6
1.9 –0.8
1.9
2.2 2.2 2.3
Imports........................................................................
5.8
7.7
0.5 –0.8
9.5 17.2 12.8 –0.3 –0.9
3.8 –3.3 –4.6
3.8
0.4 –5.0
0.8
0.0 2.8 –0.4
Goods......................................................................
6.7
8.8
0.6 –1.1 10.5 20.3 14.6 –0.1 –0.5
4.4 –4.1 –5.4
4.2
0.4 –5.6
1.0 –0.7 3.0 –0.5
Services ..................................................................
1.8
2.2 –0.1
0.3
5.1
3.3
4.5 –1.1 –3.2
0.9
0.4 –0.3
2.2
0.1 –1.7
0.2
3.4 1.9 –0.1
Government consumption expenditures and gross
investment .................................................................
2.7
3.0
1.5
1.2
2.9
4.0
4.3
1.7 –0.5
3.6
0.0
0.8
1.9
1.3
0.6
1.4
2.4 0.4 1.3
Federal........................................................................
2.6
2.7
0.9
1.1
2.3
4.5
3.6
1.4 –0.8
1.9
0.5
0.2
0.2
1.5
1.0
1.2
5.3 –2.5 1.5
National defense .....................................................
2.4
2.8
1.1
0.8
2.2
5.5
3.9
1.2 –1.2
3.1
0.5
0.3
0.2
1.2
0.6
1.0
3.1 0.1 1.4
Nondefense.............................................................
3.1
2.5
0.5
1.6
2.3
2.8
3.2
1.7
0.0 –0.1
0.5
0.1
0.3
2.0
1.7
1.5
9.0 –6.5 1.7
State and local ............................................................
2.7
3.1
1.9
1.3
3.3
3.7
4.8
1.9 –0.3
4.7 –0.3
1.2
3.1
1.2
0.4
1.5
0.6 2.2 1.1
Addenda:
Final sales of domestic product ..................................
1.2
2.1
1.8
1.5
2.0
1.8
3.0
2.3
0.6
2.2
1.8
2.1
1.3
1.3
1.2
1.7
1.6 1.4 2.0
Gross domestic purchases .........................................
1.5
2.4
1.7
1.3
2.3
3.0
3.8
1.9
0.9
2.3
1.1
1.2
1.7
1.2
0.8
1.7
1.4 1.4 1.9
Final sales to domestic purchasers ............................
1.5
2.4
1.7
1.3
2.2
3.0
3.9
1.9
1.0
2.4
1.1
1.2
1.7
1.2
0.8
1.7
1.5 1.4 1.9
Gross national product (GNP) ....................................
1.3
2.1
1.8
1.5
2.1
1.8
3.0
2.3
0.6
2.1
1.8
2.1
1.3
1.3
1.2
1.7
1.5 1.3 ........
Implicit price deflators:
GDP ........................................................................
1.2
2.1
1.8
1.5
2.1
1.8
2.9
2.4
0.6
2.1
1.9
1.9
1.5
1.4
1.1
1.6
1.4 1.3 2.0
Gross domestic purchases......................................
1.5
2.4
1.7
1.3
2.3
3.0
3.8
2.0
1.0
2.3
1.1
1.0
1.9
1.3
0.6
1.6
1.3 1.4 1.9
GNP ........................................................................
1.3
2.1
1.8
1.5
2.1
1.8
3.0
2.4
0.6
2.1
1.8
1.9
1.5
1.4
1.1
1.6
1.4 1.3 ........
See “Explanatory Note” at the end of the tables.
- 26 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Table 4A. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
2011
I
II
2012
III
IV
I
II
2013
III
IV
I
II
2014 Line
III
IV
I
Gross domestic product (GDP)...............................
1.2
2.1
1.8
1.5
2.1
1.8
3.0
2.3
0.6
2.1
1.8
2.1
1.3
1.3
1.2
1.7
1.5 1.3
Previously published...............................................
1.2
2.0
1.7
1.4
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.3
1.1
1.3
0.6
2.0
1.6 1.3
Personal consumption expenditures.................................
1.7
2.5
1.8
1.2
2.1
3.0
4.1
2.1
1.4
2.1
1.3
1.3
1.8
1.0
0.5
1.7
1.0 1.4
Previously published ..........................................................
1.7
2.4
1.8
1.1
2.1
3.0
3.7
2.3
1.3
2.3
1.1
1.7
1.6
1.1 –0.1
1.9
1.1 1.4
Goods ................................................................................
1.6
3.7
1.2 –0.5
4.0
5.9
7.1
2.0
0.3
1.8 –0.4
0.5
1.0 –1.2 –2.4
1.2 –1.4 –0.6
Previously published ......................................................
1.6
3.6
1.3 –0.4
4.0
6.0
6.3
2.6
0.2
2.2 –1.2
1.3
0.7 –1.0 –3.3
2.2 –1.0 –0.5
Durable goods................................................................ –1.4 –0.9 –1.3 –1.8 –1.9 –0.5
1.6 –0.9 –2.1 –0.8 –1.5 –2.3 –1.8 –1.0 –1.9 –2.5 –2.6 –2.8
Previously published................................................... –1.4 –1.0 –1.2 –1.8 –1.9 –0.8
1.4 –0.6 –2.2 –0.7 –1.2 –2.2 –2.1 –1.1 –2.0 –2.3 –2.2 –2.5
Nondurable goods..........................................................
3.1
5.9
2.4
0.2
6.9
9.1
9.6
3.3
1.4
3.1
0.1
1.9
2.4 –1.3 –2.7
3.0 –0.9 0.6
Previously published...................................................
3.1
5.9
2.4
0.2
6.9
9.3
8.6
4.1
1.3
3.5 –1.1
3.0
2.0 –0.9 –4.0
4.5 –0.5 0.5
Services .............................................................................
1.7
1.8
2.1
2.1
1.2
1.6
2.6
2.2
1.9
2.3
2.2
1.7
2.2
2.2
2.0
1.9
2.3 2.3
Previously published ......................................................
1.7
1.8
2.2
2.0
1.2
1.5
2.4
2.2
2.0
2.3
2.2
1.9
2.1
2.1
1.6
1.8
2.2 2.3
Gross private domestic investment ................................... –0.9
1.4
1.4
1.8
2.1
1.3
1.8
1.1
0.9
1.7
1.3
1.5
1.2
1.8
2.3
2.1
2.2 2.4
Previously published .......................................................... –0.9
1.3
1.3
1.7
2.1
1.1
1.7
1.0
0.7
1.4
1.6
1.3
1.5
2.1
1.9
1.7
1.5 2.1
Fixed investment ................................................................ –0.8
1.4
1.4
1.8
1.8
1.5
2.0
1.1
1.0
1.9
1.3
1.5
1.2
1.9
2.4
2.0
2.6 2.8
Previously published ...................................................... –0.8
1.3
1.3
1.9
1.8
1.4
2.2
1.1
0.7
1.5
1.5
1.4
1.3
2.3
2.0
2.0
2.5 2.5
Nonresidential ................................................................ –0.9
1.5
1.5
1.1
1.6
1.7
2.2
1.3
1.2
2.5
1.2
1.1
0.5
0.9
1.7
1.2
1.3 1.4
Previously published................................................... –0.9
1.5
1.4
1.2
1.6
1.5
2.3
1.3
0.9
2.1
1.5
1.0
0.8
1.3
1.2
1.2
1.2 1.1
Structures................................................................... –1.2
3.0
3.5
2.8
2.5
1.6
5.1
4.2
4.7
3.5
3.9
1.1
1.4
2.8
5.1
2.2
3.9 2.3
Previously published............................................... –1.2
2.9
1.9
3.0
2.5
2.7
4.2
3.7
2.7
0.9
1.9
0.6
1.2
4.0
5.2
3.1
4.3 2.5
Equipment .................................................................. –2.0
0.9
1.0
0.4
1.0
0.8
1.4
0.4
0.9
1.6
0.0
1.2
1.6 –0.3
0.1
0.4 –0.2 0.8
Previously published............................................... –2.0
0.9
1.3
0.4
1.0
0.7
1.7
0.7
1.0
2.1
0.4
1.4
1.5 –0.3 –0.4
0.3
0.0 0.8
Intellectual property products.....................................
0.5
1.3
1.0
0.8
1.9
2.9
1.4
0.6 –0.7
2.9
1.0
1.0 –1.5
1.2
1.7
1.6
1.7 1.7
Previously published...............................................
0.5
1.2
1.4
1.0
1.9
2.0
2.2
0.5 –0.6
2.7
2.9
0.7 –0.6
1.9
1.0
1.0
0.9 0.7
Residential ..................................................................... –0.4
0.8
0.9
5.0
2.3
0.9
1.4
0.0
0.1 –0.6
1.5
3.5
4.1
6.5
5.1
5.5
7.6 8.6
Previously published................................................... –0.4
0.7
0.9
4.9
2.3
0.8
1.4
0.1
0.1 –0.8
1.4
3.4
4.0
6.3
5.1
5.2
7.6 8.2
Change in private inventories ............................................ .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... ......... .......... .........
Net exports of goods and services.................................... .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... .......... ......... .......... ......... .......... ......... .......... .........
Exports ..............................................................................
4.3
6.4
0.9
0.1
9.6 10.6
8.8
2.3 –4.2
2.7
0.8 –0.2
1.3
1.0 –3.0
0.7
0.3 2.8
Previously published * .....................................................
4.4
6.4
0.9
0.2
9.7 10.6
8.3
2.3 –4.0
2.9
0.6
0.0
1.5
1.4 –3.2
1.0
0.5 2.7
Goods.............................................................................
5.0
7.6
0.4 –0.5 12.6 12.5
9.9
2.1 –5.5
2.3
0.3
0.0
0.7
0.6 –4.0
0.2 –0.6 3.1
Previously published * .................................................
5.0
7.6
0.4 –0.3 12.7 12.7
9.5
1.9 –5.2
2.4 –0.1
0.0
1.1
1.2 –4.4
0.5 –0.3 3.0
Services .........................................................................
2.6
3.7
1.9
1.3
3.2
6.3
6.1
2.9 –1.4
3.7
2.2 –0.5
2.6
1.9 –0.8
1.9
2.2 2.2
Previously published * .................................................
3.1
3.8
2.1
1.5
3.4
6.0
5.7
3.2 –1.0
4.0
2.4 –0.1
2.5
2.0 –0.3
1.9
2.4 2.1
Imports...............................................................................
5.8
7.7
0.5 –0.8
9.5 17.2 12.8 –0.3 –0.9
3.8 –3.3 –4.6
3.8
0.4 –5.0
0.8
0.0 2.8
Previously published * .....................................................
6.0
7.8
0.5 –0.9
9.6 17.4 12.8 –0.4 –0.8
4.3 –3.7 –5.0
4.1
0.5 –5.0
0.2
0.2 2.9
Goods.............................................................................
6.7
8.8
0.6 –1.1 10.5 20.3 14.6 –0.1 –0.5
4.4 –4.1 –5.4
4.2
0.4 –5.6
1.0 –0.7 3.0
Previously published * .................................................
6.7
8.8
0.6 –1.2 10.4 20.4 14.6 –0.3 –0.3
4.8 –4.5 –5.9
4.5
0.6 –5.9
0.4 –0.6 3.1
Services .........................................................................
1.8
2.2 –0.1
0.3
5.1
3.3
4.5 –1.1 –3.2
0.9
0.4 –0.3
2.2
0.1 –1.7
0.2
3.4 1.9
Previously published * .................................................
2.8
2.8
0.2
0.5
5.9
3.7
4.5 –0.7 –3.2
1.6
0.5 –0.3
2.3 –0.1 –0.5 –0.5
3.9 1.6
Government consumption expenditures and gross
2.7
3.0
1.5
1.2
2.9
4.0
4.3
1.7 –0.5
3.6
0.0
0.8
1.9
1.3
0.6
1.4
2.4 0.4
investment ........................................................................
Previously published ..........................................................
2.7
2.8
1.3
0.9
2.9
3.6
4.1
1.7 –0.5
2.9
0.3
0.3
1.4
0.9
0.1
1.6
3.0 0.6
Federal...............................................................................
2.6
2.7
0.9
1.1
2.3
4.5
3.6
1.4 –0.8
1.9
0.5
0.2
0.2
1.5
1.0
1.2
5.3 –2.5
Previously published ......................................................
2.6
2.7
0.8
1.4
2.3
4.2
3.8
1.3 –1.0
1.5
0.8
0.2
0.6
2.4
0.8
1.0
5.2 –1.8
National defense ............................................................
2.4
2.8
1.1
0.8
2.2
5.5
3.9
1.2 –1.2
3.1
0.5
0.3
0.2
1.2
0.6
1.0
3.1 0.1
Previously published...................................................
2.4
2.8
1.0
1.5
2.2
5.2
4.2
1.2 –1.6
2.4
1.2
0.4
0.8
2.8
0.9
1.0
3.2 0.3
Nondefense....................................................................
3.1
2.5
0.5
1.6
2.3
2.8
3.2
1.7
0.0 –0.1
0.5
0.1
0.3
2.0
1.7
1.5
9.0 –6.5
Previously published...................................................
3.1
2.5
0.4
1.2
2.3
2.5
3.2
1.7
0.0
0.0
0.2 –0.2
0.1
1.8
0.8
1.1
8.5 –5.0
State and local ...................................................................
2.7
3.1
1.9
1.3
3.3
3.7
4.8
1.9 –0.3
4.7 –0.3
1.2
3.1
1.2
0.4
1.5
0.6 2.2
Previously published ......................................................
2.7
2.9
1.6
0.7
3.3
3.1
4.3
1.9 –0.1
3.8 –0.1
0.4
1.9 –0.1 –0.4
2.0
1.5 2.1
Addenda:
Final sales of domestic product .........................................
1.2
2.1
1.8
1.5
2.0
1.8
3.0
2.3
0.6
2.2
1.8
2.1
1.3
1.3
1.2
1.7
1.6 1.4
Previously published ......................................................
1.2
2.0
1.8
1.4
2.0
1.7
2.7
2.5
0.5
2.0
1.7
2.3
1.1
1.4
0.7
2.0
1.7 1.3
Gross domestic purchases ................................................
1.5
2.4
1.7
1.3
2.3
3.0
3.8
1.9
0.9
2.3
1.1
1.2
1.7
1.2
0.8
1.7
1.4 1.4
Previously published ......................................................
1.5
2.3
1.7
1.2
2.3
2.8
3.5
2.0
0.9
2.3
1.0
1.4
1.6
1.2
0.2
1.8
1.5 1.3
Final sales to domestic purchasers ...................................
1.5
2.4
1.7
1.3
2.2
3.0
3.9
1.9
1.0
2.4
1.1
1.2
1.7
1.2
0.8
1.7
1.5 1.4
Previously published ......................................................
1.5
2.3
1.7
1.2
2.2
2.9
3.6
2.0
0.9
2.3
1.0
1.4
1.5
1.2
0.2
1.9
1.6 1.4
Gross national product (GNP) ...........................................
1.3
2.1
1.8
1.5
2.1
1.8
3.0
2.3
0.6
2.1
1.8
2.1
1.3
1.3
1.2
1.7
1.5 1.3
Previously published ......................................................
1.3
2.0
1.7
1.4
2.1
1.6
2.7
2.4
0.5
2.0
1.7
2.3
1.1
1.3
0.6
2.0
1.6 1.3
Implicit price deflators:
GDP ...............................................................................
1.2
2.1
1.8
1.5
2.1
1.8
2.9
2.4
0.6
2.1
1.9
1.9
1.5
1.4
1.1
1.6
1.4 1.3
Previously published...................................................
1.2
2.0
1.7
1.5
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.1
1.4
1.7
0.6
2.0
1.6 1.3
Gross domestic purchases.............................................
1.5
2.4
1.7
1.3
2.3
3.0
3.8
2.0
1.0
2.3
1.1
1.0
1.9
1.3
0.6
1.6
1.3 1.4
Previously published...................................................
1.5
2.3
1.6
1.3
2.3
2.8
3.5
2.1
0.9
2.2
1.0
1.2
1.9
1.5
0.2
1.8
1.5 1.3
GNP ...............................................................................
1.3
2.1
1.8
1.5
2.1
1.8
3.0
2.4
0.6
2.1
1.8
1.9
1.5
1.4
1.1
1.6
1.4 1.3
Previously published...................................................
1.3
2.0
1.7
1.5
2.1
1.6
2.6
2.5
0.5
2.0
1.8
2.1
1.4
1.7
0.6
2.0
1.6 1.3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
See “Explanatory Note” at the end of the tables.
- 27 -
Table 5. Real Gross Domestic Product, Quantity Indexes
[Index numbers, 2009=100]
Seasonally adjusted
Line
2010
2011
2012
2013
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
II
2011
III
IV
I
II
Line
III
IV
Gross domestic product ...............................
102.532 104.174 106.592 108.957 101.291 102.269 102.959 103.608 103.208 103.959 104.178 105.351
Personal consumption expenditures.......................... 101.923 104.230 106.121 108.660 100.718 101.538 102.195 103.241 103.759 103.968 104.420 104.771
Goods ......................................................................... 103.446 106.670 109.632 113.367 101.517 102.801 103.773 105.691 106.454 106.247 106.473 107.506
Durable goods......................................................... 106.092 112.529 120.756 128.896 102.135 105.177 106.884 110.172 111.576 110.838 112.244 115.459
Nondurable goods................................................... 102.226 104.049 104.828 106.780 101.218 101.699 102.338 103.647 104.135 104.159 103.890 104.010
Services ...................................................................... 101.190 103.051 104.420 106.385 100.332 100.930 101.436 102.062 102.459 102.869 103.431 103.448
Gross private domestic investment ............................ 112.901 118.758 129.700 136.102 107.177 112.714 116.378 115.336 113.194 117.563 117.885 126.390
Fixed investment ......................................................... 101.504 107.947 116.899 122.387
98.629 101.832 101.733 103.823 103.590 105.652 109.961 112.584
Nonresidential ......................................................... 102.471 110.335 118.263 121.865
98.874 101.581 103.632 105.794 105.552 107.807 112.695 115.286
Structures............................................................
83.585
85.509
96.703
96.227
82.081
84.399
83.146
84.712
78.275
83.681
88.583
91.496
Equipment ...........................................................
115.892 131.601 140.558 147.015 108.280 114.099 118.912 122.277 125.811 127.161 135.182 138.252
Intellectual property products.............................. 101.887 105.506 109.587 113.278 101.213 100.692 102.189 103.455 103.803 104.612 105.921 107.689
Residential ..............................................................
97.496
98.032 111.276 124.521
97.635 102.871
93.845
95.635
95.449
96.708
98.605 101.364
Change in private inventories ..................................... ................ ................ ................ ................ ................. ................. ................ ................ ................ ................ ................ .................
Exports of goods and services ................................... 111.895 119.561 123.453 127.213 107.584 110.098 113.212 116.684 117.293 119.080 120.334 121.536
Imports of goods and services ................................... 112.716 118.883 121.653 123.048 106.745 111.829 115.771 116.517 117.412 118.292 119.249 120.582
Government consumption expenditures and gross
100.074
97.031
95.625
93.699
99.844 100.554 100.468
99.431
97.511
97.407
96.792
96.413
investment .................................................................
Federal........................................................................ 104.350 101.538
99.729
94.055 102.472 104.577 105.531 104.819 101.930 102.325 101.279 100.618
State and local ............................................................
97.293
94.100
92.953
93.429
98.135
97.937
97.173
95.928
94.637
94.210
93.874
93.677
Addenda:
Final sales of domestic product .................................. 101.070 102.833 105.067 107.349 100.173 100.879 101.086 102.142 101.984 102.459 103.219 103.671
Gross domestic purchases ......................................... 102.908 104.521 106.821 108.889 101.346 102.729 103.603 103.953 103.628 104.281 104.491 105.683
Final sales to domestic purchasers ............................ 101.483 103.213 105.336 107.326 100.260 101.373 101.775 102.524 102.433 102.820 103.553 104.048
Gross national product................................................ 102.752 104.607 106.846 109.147 101.512 102.492 103.134 103.871 103.547 104.292 104.663 105.926
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Seasonally adjusted
Line
2012
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
Gross domestic product ...............................
105.939
106.367
107.023
107.039
107.766
108.238
109.440
110.386
109.799
110.868
Personal consumption expenditures..........................
105.490
105.821
106.331
106.841
107.786
108.261
108.798
109.795
110.128
110.800
Goods .........................................................................
108.740
109.083
109.956
110.751
112.356
112.716
113.684
114.711
115.004
116.734
Durable goods.........................................................
118.438
119.100
121.410
124.077
126.620
128.014
129.565
131.387
132.412
136.833
Nondurable goods...................................................
104.519
104.728
105.012
105.051
106.278
106.223
106.955
107.664
107.669
108.346
Services ......................................................................
103.915
104.241
104.576
104.948
105.576
106.106
106.439
107.421
107.774
107.953
Gross private domestic investment ............................
128.516
130.343
130.860
129.080
131.460
133.681
138.983
140.284
137.809
143.327
Fixed investment .........................................................
115.056
116.288
117.182
119.070
119.858
121.290
123.257
125.141
125.198
127.005
Nonresidential .........................................................
116.935
118.191
118.431
119.494
119.931
120.410
122.028
125.090
125.591
127.281
Structures............................................................
95.496
97.899
97.547
95.871
92.981
94.628
97.167
100.134
100.840
102.153
Equipment ...........................................................
139.487
139.819
140.080
142.845
144.540
145.087
146.757
151.674
151.298
153.867
Intellectual property products ..............................
107.885
109.233
109.931
111.299
113.054
112.494
113.275
114.289
115.595
116.590
Residential ..............................................................
107.292
108.416
112.039
117.355
119.566
124.870
128.238
125.412
123.725
125.988
Change in private inventories ..................................... .................... .................... .................... .................... .................... .................... .................... .................... .................... ....................
Exports of goods and services ...................................
121.934
123.374
124.021
124.483
124.221
126.139
127.709
130.784
127.660
130.588
Imports of goods and services ...................................
121.106
122.306
122.135
121.067
120.990
123.478
123.657
124.067
124.756
128.262
Government consumption expenditures and gross
95.749
95.655
96.287
94.808
93.871
93.917
93.957
93.052
92.860
93.231
investment .................................................................
Federal........................................................................
99.863
99.626
101.454
97.974
95.464
94.624
94.337
91.794
91.765
91.588
State and local ............................................................
93.071
93.069
92.934
92.739
92.808
93.420
93.671
93.818
93.522
94.242
Addenda:
Final sales of domestic product ..................................
104.320
104.681
105.386
105.879
106.407
106.791
107.584
108.612
108.350
108.961
Gross domestic purchases .........................................
106.282
106.706
107.243
107.053
107.775
108.373
109.389
110.020
109.898
111.102
Final sales to domestic purchasers ............................
104.705
105.065
105.650
105.924
106.455
106.965
107.585
108.300
108.488
109.247
Gross national product................................................
106.279
106.646
107.191
107.270
107.875
108.379
109.663
110.669
109.883 ....................
See “Explanatory Note” at the end of the tables.
- 28 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Table 6. Price Indexes for Gross Domestic Product—Continues
[Index numbers, 2009=100]
Seasonally adjusted
Line
2010
2011
2012
2013
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
II
2011
III
IV
I
II
Line
III
IV
Gross domestic product .......................
101.226
103.315
105.174
106.739
100.517
100.981
101.444
101.963
102.409
103.170
103.770
103.913
Personal consumption expenditures (PCE) .......
101.653
104.149
106.062
107.333
101.282
101.396
101.696
102.237
103.002
104.043
104.595
104.956
Goods .................................................................
101.637
105.413
106.712
106.211
101.786
101.147
101.307
102.308
103.795
105.584
106.095
106.178
Durable goods.................................................
98.622
97.725
96.466
94.712
99.506
98.902
98.275
97.803
97.672
98.068
97.841
97.317
Nondurable goods...........................................
103.085
109.188
111.828
112.025
102.868
102.216
102.763
104.492
106.784
109.270
110.151
110.548
Services ..............................................................
101.661
103.524
105.745
107.919
101.037
101.518
101.887
102.202
102.610
103.280
103.853
104.353
Gross private domestic investment ....................
99.109
100.453
101.825
103.632
98.798
98.932
99.100
99.608
99.926
100.371
100.645
100.870
Fixed investment .................................................
99.180
100.524
101.955
103.822
98.987
99.024
99.138
99.571
99.950
100.455
100.718
100.973
Nonresidential .................................................
99.070
100.545
102.082
103.186
98.735
98.953
99.095
99.496
99.909
100.445
100.761
101.065
Structures....................................................
98.844
101.851
105.464
108.416
98.050
98.554
99.077
99.693
100.089
101.342
102.398
103.575
Equipment ...................................................
98.009
98.858
99.828
100.263
97.875
97.817
98.049
98.293
98.486
98.833
98.941
99.173
Intellectual property products......................
100.541
101.883
102.857
103.693
100.295
100.636
100.381
100.851
101.584
101.945
102.087
101.914
Residential ......................................................
99.645
100.395
101.342
106.448
100.027
99.328
99.325
99.898
100.112
100.472
100.482
100.512
Change in private inventories ............................. ................. ................. ................. ................ ................. ................. ................. ................. ................. ................. ................. .................
Exports of goods and services ...........................
104.263
110.960
111.940
112.001
102.684
103.818
104.064
106.487
109.204
111.523
112.162
110.953
Imports of goods and services ...........................
105.800
113.942
114.501
113.529
105.925
105.391
104.739
107.144
111.485
114.902
114.826
114.553
Government consumption expenditures and
102.673
105.717
107.286
108.618
101.667
102.422
102.936
103.668
104.700
105.809
106.247
106.114
gross investment ..............................................
Federal................................................................
102.614
105.422
106.341
107.530
101.719
102.452
102.855
103.429
104.585
105.524
105.890
105.688
State and local ....................................................
102.714
105.923
107.947
109.377
101.629
102.399
102.991
103.836
104.778
106.006
106.496
106.413
Addenda:
PCE excluding food and energy 1 .......................
101.286
102.800
104.678
106.084
100.910
101.177
101.425
101.630
101.974
102.593
103.110
103.522
Market-based PCE 2 ...........................................
101.497
104.034
105.918
107.043
101.195
101.237
101.512
102.043
102.856
103.931
104.496
104.853
Market-based PCE excluding food and energy 2
101.047
102.462
104.300
105.557
100.752
100.957
101.169
101.311
101.647
102.243
102.770
103.186
Final sales of domestic product ..........................
101.227
103.319
105.188
106.762
100.534
100.985
101.441
101.950
102.406
103.176
103.774
103.921
Gross domestic purchases .................................
101.527
103.970
105.738
107.105
101.035
101.283
101.608
102.182
102.936
103.906
104.395
104.641
Final sales to domestic purchasers ....................
101.527
103.974
105.752
107.126
101.050
101.286
101.605
102.169
102.932
103.912
104.400
104.650
Gross national product........................................
101.338
103.439
105.296
106.860
100.635
101.091
101.552
102.073
102.529
103.296
103.894
104.038
Implicit price deflators:
Gross domestic product ..................................
101.221
103.311
105.166
106.733
100.522
100.968
101.429
101.949
102.399
103.145
103.768
103.917
Final sales of domestic product.......................
101.227
103.319
105.188
106.762
100.531
100.981
101.437
101.946
102.402
103.172
103.770
103.918
Gross domestic purchases..............................
101.522
103.966
105.730
107.099
101.040
101.271
101.595
102.169
102.926
103.881
104.393
104.646
Final sales to domestic purchasers.................
101.527
103.974
105.752
107.126
101.047
101.283
101.601
102.165
102.928
103.908
104.396
104.647
Gross national product....................................
101.333
103.435
105.288
106.854
100.640
101.078
101.538
102.059
102.519
103.270
103.892
104.043
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)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
and the final consumption expenditures of nonprofit institutions serving households. Percentage changes for
these series are included in the addenda to table 8 and appendix table A.
See “Explanatory Note” at the end of the tables.
- 29 -
Table 6. Price Indexes for Gross Domestic Product—Table Ends
[Index numbers, 2009=100]
Seasonally adjusted
Line
2012
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
Gross domestic product .......................
104.461
104.937
105.475
105.821
106.172
106.495
106.943
107.347
107.694
108.224
Personal consumption expenditures (PCE) .......
105.510
105.860
106.204
106.675
106.951
107.074
107.520
107.789
108.156
108.777
Goods .................................................................
106.661
106.543
106.683
106.960
106.638
105.986
106.301
105.917
105.769
106.310
Durable goods.................................................
97.132
96.761
96.205
95.766
95.520
95.060
94.450
93.820
93.148
92.902
Nondurable goods...........................................
111.386
111.407
111.925
112.595
112.232
111.477
112.316
112.075
112.230
113.227
Services ..............................................................
104.941
105.526
105.973
106.541
107.122
107.641
108.154
108.759
109.390
110.054
Gross private domestic investment ....................
101.308
101.643
102.020
102.329
102.794
103.370
103.897
104.465
105.094
105.316
Fixed investment .................................................
101.450
101.766
102.151
102.453
102.940
103.545
104.071
104.734
105.461
105.714
Nonresidential .................................................
101.680
101.984
102.263
102.402
102.620
103.058
103.364
103.701
104.059
104.378
Structures....................................................
104.470
105.479
105.770
106.138
106.864
108.194
108.778
109.829
110.452
110.761
Equipment ...................................................
99.579
99.586
99.878
100.267
100.196
100.231
100.339
100.287
100.477
100.785
Intellectual property products......................
102.649
102.896
103.143
102.741
103.045
103.487
103.901
104.339
104.770
105.113
Residential ......................................................
100.360
100.745
101.618
102.644
104.271
105.571
106.982
108.968
111.244
111.217
Change in private inventories ............................. ..................... ..................... .................... ..................... ..................... ..................... .................... ..................... ..................... .....................
Exports of goods and services ...........................
111.696
111.931
111.889
112.244
112.528
111.663
111.868
111.945
112.716
112.602
Imports of goods and services ...........................
115.633
114.656
113.323
114.393
114.496
113.048
113.287
113.286
114.082
113.954
Government consumption expenditures and
107.046
107.054
107.263
107.781
108.142
108.312
108.690
109.330
109.431
109.773
gross investment ..............................................
Federal................................................................
106.197
106.338
106.388
106.440
106.828
107.093
107.406
108.791
108.105
108.513
State and local ....................................................
107.641
107.556
107.876
108.715
109.052
109.154
109.572
109.729
110.332
110.632
Addenda:
PCE excluding food and energy 1 .......................
104.063
104.546
104.871
105.230
105.606
105.875
106.252
106.603
106.922
107.442
Market-based PCE 2 ...........................................
105.401
105.720
106.073
106.475
106.746
106.779
107.226
107.420
107.754
108.362
Market-based PCE excluding food and energy 2
103.719
104.185
104.517
104.780
105.165
105.350
105.720
105.995
106.269
106.759
Final sales of domestic product ..........................
104.477
104.950
105.490
105.835
106.188
106.515
106.963
107.380
107.742
108.278
Gross domestic purchases .................................
105.249
105.533
105.858
106.313
106.634
106.837
107.284
107.667
108.030
108.539
Final sales to domestic purchasers ....................
105.265
105.545
105.871
106.325
106.649
106.855
107.301
107.699
108.075
108.590
Gross national product........................................
104.588
105.059
105.595
105.941
106.293
106.615
107.065
107.468
107.815 .....................
Implicit price deflators:
Gross domestic product ..................................
104.461
104.942
105.428
105.824
106.204
106.488
106.923
107.301
107.658
108.188
Final sales of domestic product.......................
104.474
104.947
105.487
105.832
106.185
106.511
106.959
107.377
107.738
108.274
Gross domestic purchases..............................
105.249
105.539
105.813
106.316
106.666
106.831
107.264
107.624
107.995
108.505
Final sales to domestic purchasers.................
105.262
105.544
105.869
106.324
106.647
106.852
107.298
107.696
108.072
108.587
Gross national product....................................
104.588
105.064
105.548
105.944
106.324
106.608
107.044
107.423
107.778 .....................
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)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
and the final consumption expenditures of nonprofit institutions serving households. Percentage changes for
these series are included in the addenda to table 8 and appendix table A.
See “Explanatory Note” at the end of the tables.
- 30 -
Table 7. Real Gross Domestic Product: Percent Change From Preceding Year
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013 Line
Gross domestic product (GDP)
4.0
2.7
3.8
4.5
4.5
4.7
4.1
1.0
1.8
2.8
3.8
3.3
2.7
1.8 –0.3 –2.8
2.5
1.6
2.3
2.2
Personal consumption expenditures
3.9
3.0
3.5
3.8
5.3
5.3
5.1
2.6
2.6
3.1
3.8
3.5
3.0
2.2 –0.3 –1.6
1.9
2.3
1.8
2.4
Goods .................................................
5.3
3.0
4.5
4.8
6.7
7.9
5.2
3.0
3.9
4.8
5.1
4.1
3.6
2.7 –2.5 –3.0
3.4
3.1
2.8
3.4
Durable goods.................................
8.0
3.9
7.5
8.2 12.1 12.8
8.6
5.2
7.3
7.1
8.2
5.4
4.3
4.6 –5.1 –5.5
6.1
6.1
7.3
6.7
Nondurable goods...........................
3.9
2.5
2.9
2.9
3.7
5.0
3.2
1.7
1.9
3.5
3.3
3.3
3.3
1.7 –1.1 –1.8
2.2
1.8
0.7
1.9
Services ..............................................
3.1
3.0
2.9
3.2
4.6
3.9
5.0
2.4
1.9
2.2
3.2
3.2
2.7
2.0
0.8 –0.9
1.2
1.8
1.3
1.9
Gross private domestic investment .... 11.9
3.2
8.8 11.4
9.5
8.4
6.5 –6.1 –0.6
4.1
8.8
6.4
2.1 –3.1 –9.4 –21.6 12.9
5.2
9.2
4.9
Fixed investment .................................
8.2
6.1
8.9
8.6 10.2
8.8
6.9 –1.6 –3.5
4.0
6.7
6.8
2.0 –2.0 –6.8 –16.7
1.5
6.3
8.3
4.7
Nonresidential .................................
7.9
9.7
9.1 10.8 10.8
9.7
9.1 –2.4 –6.9
1.9
5.2
7.0
7.1
5.9 –0.7 –15.6
2.5
7.7
7.2
3.0
Structures....................................
1.8
6.4
5.7
7.3
5.1
0.1
7.8 –1.5 –17.7 –3.9 –0.4
1.7
7.2 12.7
6.1 –18.9 –16.4
2.3 13.1 –0.5
Equipment ................................... 12.3 12.1
9.5 11.1 13.1 12.5
9.7 –4.3 –5.4
3.2
7.7
9.6
8.6
3.2 –6.9 –22.9 15.9 13.6
6.8
4.6
Intellectual property products......
4.0
7.3 11.3 13.0 10.8 12.4
8.9
0.5 –0.5
3.8
5.1
6.5
4.5
4.8
3.0 –1.4
1.9
3.6
3.9
3.4
Residential ......................................
9.0 –3.4
8.2
2.4
8.6
6.3
0.7
0.9
6.1
9.1 10.0
6.6 –7.6 –18.8 –24.0 –21.2 –2.5
0.5 13.5 11.9
Change in private inventories ............. .......... .......... .......... .......... ........... ........... .......... .......... .......... ........... ........... .......... .......... .......... .......... ........... .......... .......... .......... ..........
Net exports of goods and services..... .......... .......... .......... .......... ........... ........... .......... .......... .......... ........... ........... .......... .......... .......... .......... ........... .......... .......... .......... ..........
Exports ...............................................
8.8 10.3
8.2 11.9
2.3
2.6
8.6 –5.8 –1.7
1.8
9.8
6.3
9.0
9.3
5.7 –8.8 11.9
6.9
3.3
3.0
Goods..............................................
9.6 11.6
8.9 14.5
2.2
4.2 10.1 –6.2 –3.4
1.9
8.6
7.3
9.4
7.5
6.1 –12.1 14.4
6.5
3.7
2.8
Services ..........................................
7.0
6.8
6.3
5.3
2.8 –1.4
4.7 –5.0
2.7
1.5 12.7
3.8
8.1 13.7
4.8 –1.1
6.8
7.6
2.4
3.6
Imports................................................ 11.9
8.0
8.7 13.5 11.7 10.1 13.0 –2.8
3.7
4.5 11.4
6.3
6.3
2.5 –2.6 –13.7 12.7
5.5
2.3
1.1
Goods.............................................. 13.4
9.0
9.4 14.4 11.8 12.8 13.1 –3.2
3.7
4.9 11.2
6.7
5.9
1.8 –3.7 –15.8 14.9
5.8
2.1
0.9
Services ..........................................
5.3
3.0
5.2
8.7 10.9 –3.0 12.6 –0.6
3.3
2.1 12.7
4.5
8.6
6.2
3.7 –3.8
3.8
4.0
3.4
2.2
Government consumption
expenditures and gross investment
0.1
0.5
1.0
1.9
2.1
3.4
1.9
3.8
4.4
2.2
1.6
0.6
1.5
1.6
2.8
3.2
0.1 –3.0 –1.4 –2.0
Federal................................................ –3.5 –2.6 –1.2 –0.8 –0.9
2.0
0.3
3.9
7.2
6.8
4.5
1.7
2.5
1.7
6.8
5.7
4.4 –2.7 –1.8 –5.7
National defense ............................. –4.9 –4.0 –1.6 –2.7 –2.1
1.5 –0.9
3.5
7.0
8.5
6.0
2.0
2.0
2.5
7.5
5.4
3.2 –2.3 –3.3 –6.6
Nondefense..................................... –0.8
0.0 –0.5
2.8
1.3
2.7
2.3
4.7
7.4
4.1
2.0
1.3
3.5
0.3
5.5
6.2
6.4 –3.4
1.0 –4.1
State and local ....................................
2.8
2.7
2.4
3.6
3.8
4.2
2.8
3.7
2.9 –0.4 –0.1
0.0
0.9
1.5
0.3
1.6 –2.7 –3.3 –1.2
0.5
Addenda:
Final sales of domestic product ..........
3.4
3.2
3.8
4.0
4.5
4.7
4.2
1.9
1.3
2.8
3.4
3.4
2.6
2.0
0.2 –2.0
1.1
1.7
2.2
2.2
Gross domestic purchases .................
4.4
2.6
3.9
4.7
5.5
5.5
4.8
1.2
2.3
3.1
4.3
3.5
2.6
1.1 –1.3 –3.8
2.9
1.6
2.2
1.9
Final sales to domestic purchasers ....
3.8
3.0
3.9
4.2
5.6
5.6
4.9
2.0
1.8
3.1
3.9
3.6
2.6
1.4 –0.9 –3.1
1.5
1.7
2.1
1.9
Gross domestic income 1 ....................
4.4
3.4
4.3
5.1
5.3
4.4
4.7
1.1
1.4
2.3
3.7
3.6
4.0
0.1 –0.8 –2.6
2.7
2.2
3.4
2.2
Gross national product........................
3.9
2.8
3.8
4.4
4.4
4.8
4.2
1.1
1.7
2.9
3.9
3.3
2.4
2.2
0.0 –2.9
2.8
1.8
2.1
2.2
Real disposable personal income .......
2.7
3.4
3.2
3.7
5.9
3.3
5.0
2.8
3.1
2.7
3.6
1.5
4.0
2.1
1.5 –0.4
1.0
2.5
3.0 –0.2
Price indexes:
Gross domestic purchases..............
2.1
2.1
1.7
1.5
0.7
1.6
2.6
1.9
1.4
2.2
2.9
3.5
3.2
2.7
2.9 –0.2
1.5
2.4
1.7
1.3
Gross domestic purchases
2 ........
2.2
2.2
1.6
1.5
0.9
1.5
2.2
1.8
1.6
1.9
2.7
3.2
3.0
2.5
2.3
0.5
1.3
1.8
1.7
1.4
excluding food and energy
GDP ................................................
2.1
2.1
1.8
1.7
1.1
1.4
2.3
2.3
1.5
2.0
2.7
3.2
3.1
2.7
1.9
0.8
1.2
2.1
1.8
1.5
GDP excluding food and energy 2 ...
2.2
2.1
1.7
1.8
1.2
1.5
2.3
2.0
1.8
1.9
2.7
3.4
3.1
2.6
2.1
0.5
1.4
1.9
1.7
1.6
Personal consumption expenditures
2.1
2.1
2.1
1.7
0.8
1.5
2.5
1.9
1.3
2.0
2.4
2.9
2.7
2.5
3.1 –0.1
1.7
2.5
1.8
1.2
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
- 31 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
Table 7A. Gross Domestic Product: Levels, Percent Change from Preceding Year, and Revision to Percent Change
Billions of dollars
Year
Revision to percent change from preceding year 2
Percent change from preceding year
Gross
Gross
Gross
Exports Imports
Exports Imports
Exports Imports
Gross
Personal
Gross
Personal
Gross
Personal
private of goods of goods Governprivate of goods of goods Governprivate of goods of goods Governdomestic consumption
1 domestic consumption
1 domestic consumption
and
and
and
domestic
ment
domestic
ment
domestic
ment 1
and
and
and
product expenditures
product expenditures
product expenditures
investment services * services *
investment services* services *
investment services * services *
1999 ..........
9,660.6
6,307.0
1,884.2
1,726.0
6.3
6.8
8.6
4.1
11.9
7.0
0.0
–0.2
0.0
0.3
–0.2
0.0
2000 ..........
2001 ..........
2002 ..........
2003 ..........
2004 ..........
10,284.8
10,621.8
10,977.5
11,510.7
12,274.9
6,792.4
7,103.1
7,384.1
7,765.5
8,260.0
2,033.8
1,928.6
1,925.0
2,027.9
2,276.7
1,096.8
1,026.7
1,002.5
1,040.3
1,181.5
1,472.6
1,395.4
1,429.0
1,543.9
1,800.7
1,834.4
1,958.8
2,094.9
2,220.8
2,357.4
6.5
3.3
3.3
4.9
6.6
7.7
4.6
4.0
5.2
6.4
7.9
–5.2
–0.2
5.3
12.3
10.6
–6.4
–2.4
3.8
13.6
17.9
–5.2
2.4
8.0
16.6
6.3
6.8
7.0
6.0
6.1
0.0
0.0
0.0
0.1
0.0
0.0
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
–0.4
–0.1
–0.1
0.2
0.0
0.0
0.1
0.0
0.2
0.0
0.0
0.0
0.0
0.0
2005 ..........
2006 ..........
2007 ..........
2008 ..........
2009 ..........
13,093.7
13,855.9
14,477.6
14,718.6
14,418.7
8,794.1
9,304.0
9,750.5
10,013.6
9,847.0
2,527.1
2,680.6
2,643.7
2,424.8
1,878.1
1,308.9
1,476.3
1,664.6
1,841.9
1,587.7
2,030.1
2,247.3
2,383.2
2,565.0
1,983.2
2,493.7
2,642.2
2,801.9
3,003.2
3,089.1
6.7
5.8
4.5
1.7
–2.0
6.5
5.8
4.8
2.7
–1.7
11.0
6.1
–1.4
–8.3
–22.5
10.8
12.8
12.8
10.7
–13.8
12.7
10.7
6.0
7.6
–22.7
5.8
6.0
6.0
7.2
2.9
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
0.1
0.1
0.3
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2010 ..........
2011 ..........
2012 ..........
2013 ..........
14,964.4
15,517.9
16,163.2
16,768.1
10,202.2
10,689.3
11,083.1
11,484.3
2,100.8
2,239.9
2,479.2
2,648.0
1,852.3
2,106.4
2,194.2
2,262.2
2,365.0
2,686.4
2,762.5
2,770.4
3,174.0
3,168.7
3,169.2
3,143.9
3.8
3.7
4.2
3.7
3.6
4.8
3.7
3.6
11.9
6.6
10.7
6.8
16.7
13.7
4.2
3.1
19.3
13.6
2.8
0.3
2.7
–0.2
0.0
–0.8
0.1
–0.1
–0.4
0.3
0.0
–0.2
–0.4
0.4
0.0
0.4
–0.2
–1.1
0.3
–0.3
–0.3
0.2
–0.2
0.6
0.1
–0.2
0.0
0.3
–0.3
0.5
992.0 1,248.6
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
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 (2009) dollars
Year
Percent change from preceding year
Revision to percent change from preceding year
2
Personal Gross
Personal Gross
Personal Gross
Imports
Imports
Imports
Gross
Gross
conconconprivate Exports of goods Govern- Gross
private Exports of goods Governprivate Exports of goods Governof goods
of goods
of goods
Residual
domestic
domestic sumption domestic
domestic
sumption
sumption
domestic
domestic
1
1
and
ment
and
ment
and
ment 1
and
and
and
product expendi- investproduct expendi- investproduct expendi- invest*
*
*
services *
services *
services *
tures
tures
tures
ment services
ment services
ment services
1999 .......... 12,065.9
7,775.9
2,231.4 1,159.1 1,536.2 2,451.7
–16.0
4.7
5.3
8.4
2.6
10.1
3.4
–0.1
–0.2
0.0
–2.0
–1.3
0.0
2000 ..........
2001 ..........
2002 ..........
2003 ..........
2004 ..........
12,559.7
12,682.2
12,908.8
13,271.1
13,773.5
8,170.7
8,382.6
8,598.8
8,867.6
9,208.2
2,375.5
2,231.4
2,218.2
2,308.7
2,511.3
1,258.4
1,184.9
1,164.5
1,185.0
1,300.6
1,736.2
1,687.0
1,748.8
1,826.9
2,035.3
2,498.2
2,592.4
2,705.8
2,764.3
2,808.2
–6.9
–22.1
–29.7
–27.6
–19.5
4.1
1.0
1.8
2.8
3.8
5.1
2.6
2.6
3.1
3.8
6.5
–6.1
–0.6
4.1
8.8
8.6
–5.8
–1.7
1.8
9.8
13.0
–2.8
3.7
4.5
11.4
1.9
3.8
4.4
2.2
1.6
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
0.0
0.2
–0.1
0.2
0.2
0.4
0.2
0.1
0.3
0.2
0.4
0.0
0.0
0.0
0.0
0.0
2005 ..........
2006 ..........
2007 ..........
2008 ..........
2009 ..........
14,234.2 9,531.8
14,613.8 9,821.7
14,873.7 10,041.6
14,830.4 10,007.2
14,418.7 9,847.0
2,672.6
2,730.0
2,644.1
2,396.0
1,878.1
1,381.9
1,506.8
1,646.4
1,740.8
1,587.7
2,164.2
2,301.0
2,359.0
2,298.6
1,983.2
2,826.2
2,869.3
2,914.4
2,994.8
3,089.1
–14.1
–13.0
–13.8
–9.8
0.0
3.3
2.7
1.8
–0.3
–2.8
3.5
3.0
2.2
–0.3
–1.6
6.4
2.1
–3.1
–9.4
–21.6
6.3
9.0
9.3
5.7
–8.8
6.3
6.3
2.5
–2.6
–13.7
0.6
1.5
1.6
2.8
3.2
–0.1
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
0.3
0.1
0.4
0.0
0.3
0.2
0.2
0.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2010 ..........
2011 ..........
2012 ..........
2013 ..........
14,783.8
15,020.6
15,369.2
15,710.3
2,120.4
2,230.4
2,435.9
2,556.2
1,776.6
1,898.3
1,960.1
2,019.8
2,235.4
2,357.7
2,412.6
2,440.3
3,091.4
2,997.4
2,953.9
2,894.5
–5.5
–11.3
–17.8
–19.6
2.5
1.6
2.3
2.2
1.9
2.3
1.8
2.4
12.9
5.2
9.2
4.9
11.9
6.9
3.3
3.0
12.7
5.5
2.3
1.1
0.1
–3.0
–1.4
–2.0
0.0
–0.2
–0.5
0.3
–0.1
–0.2
–0.4
0.4
0.0
0.3
–0.3
–0.5
0.4
–0.2
–0.2
0.3
–0.1
0.6
0.1
–0.3
0.0
0.2
–0.4
0.2
10,036.3
10,263.5
10,449.7
10,699.7
* The “revised” estimates for exports and imports of goods and services reflect changes related to the annual revision of the BEA’s international transactions accounts, released June 18, 2014, including reclassifications within and
between the exports and imports categories. The “previously published” estimates have not been restated to reflect these reclassifications.
1. Government consumption expenditures and gross investment
2. Revised percent change less the previously published percent change
See “Explanatory Note” at the end of the tables.
- 32 -
Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
2010
2011
2012
2013
2014
Line
Line
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
Gross domestic product (GDP)....................
1.6
2.7
3.1
2.7
1.9
1.7
1.2
1.7
2.6
2.3
2.7
1.6
1.7
1.8
2.3
3.1
1.9
2.4
Personal consumption expenditures (PCE) ...........
0.7
2.0
2.0
3.1
3.0
2.4
2.2
1.5
1.7
1.8
1.8
2.0
2.2
2.3
2.3
2.8
2.2
2.3
Goods .....................................................................
1.8
3.8
3.0
5.1
4.9
3.4
2.6
1.7
2.1
2.7
3.3
3.0
3.3
3.3
3.4
3.6
2.4
3.6
Durable goods.....................................................
3.6
7.4
4.1
9.3
9.2
5.4
5.0
4.8
6.2
7.5
8.2
7.5
6.9
7.5
6.7
5.9
4.6
6.9
Nondurable goods...............................................
1.0
2.2
2.5
3.3
2.9
2.4
1.5
0.4
0.4
0.5
1.1
1.0
1.7
1.4
1.9
2.5
1.3
2.0
Services ..................................................................
0.1
1.1
1.5
2.0
2.1
1.9
2.0
1.4
1.4
1.3
1.1
1.5
1.6
1.8
1.8
2.4
2.1
1.7
Gross private domestic investment ........................
3.9 16.3 21.1 11.1
5.6
4.3
1.3
9.6 13.5 10.9 11.0
2.1
2.3
2.6
6.2
8.7
4.8
7.2
Fixed investment .....................................................
–4.4
2.6
2.6
5.5
5.0
3.8
8.1
8.4 11.1 10.1
6.6
5.8
4.2
4.3
5.2
5.1
4.5
4.7
Nonresidential .....................................................
–4.3
1.5
4.9
8.1
6.8
6.1
8.7
9.0 10.8
9.6
5.1
3.7
2.6
1.9
3.0
4.7
4.7
5.7
Structures........................................................ –26.7 –18.4 –13.8 –4.0 –4.6 –0.9
6.5
8.0 22.0 17.0 10.1
4.8 –2.6 –3.3 –0.4
4.4
8.5
8.0
Equipment .......................................................
6.7 16.4 19.7 20.9 16.2 11.4 13.7 13.1 10.9 10.0
3.6
3.3
3.6
3.8
4.8
6.2
4.7
6.1
Intellectual property products ..........................
2.6
1.0
2.2
1.8
2.6
3.9
3.7
4.1
3.9
4.4
3.8
3.4
4.8
3.0
3.0
2.7
2.2
3.6
Residential ..........................................................
–4.5
7.0 –6.9 –5.2 –2.2 –6.0
5.1
6.0 12.4 12.1 13.6 15.8 11.4 15.2 14.5
6.9
3.5
0.9
Change in private inventories ................................. .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
Net exports of goods and services......................... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
Exports ...................................................................
11.3 13.6 12.8 10.1
9.0
8.2
6.3
4.2
4.0
3.6
3.1
2.4
1.9
2.2
3.0
5.1
2.8
3.5
Goods..................................................................
14.2 18.0 14.9 10.9
8.5
7.1
5.7
4.8
4.5
4.6
4.2
1.4
0.8
1.5
2.4
6.6
3.4
4.5
Services ..............................................................
5.2
4.8
8.6
8.4 10.1 10.6
7.6
2.7
2.8
1.4
0.5
4.8
4.3
3.9
4.3
1.8
1.3
1.3
Imports....................................................................
6.6 16.4 16.1 12.0 10.0
5.8
3.0
3.5
3.1
3.4
2.4
0.4 –0.1
1.0
1.2
2.5
3.1
3.9
Goods..................................................................
7.9 19.7 18.6 13.6 11.5
5.9
2.7
3.4
2.6
3.4
2.6
0.0 –0.4
0.7
1.0
2.5
3.0
4.1
Services ..............................................................
1.2
3.3
5.8
4.9
2.9
5.1
4.3
3.8
6.0
3.3
1.8
2.6
1.4
2.4
2.5
2.6
3.9
2.9
Government consumption expenditures and
gross investment ..................................................
1.4
0.3 –0.3 –1.1 –2.3 –3.1 –3.7 –3.0 –1.8 –1.8 –0.5 –1.7 –2.0 –1.8 –2.4 –1.9 –1.1 –0.7
Federal....................................................................
5.7
4.5
4.0
3.2 –0.5 –2.2 –4.0 –4.0 –2.0 –2.6
0.2 –2.6 –4.4 –5.0 –7.0 –6.3 –3.9 –3.2
National defense .................................................
5.4
2.9
2.6
2.0 –1.3 –1.2 –2.5 –4.1 –2.3 –4.2 –1.9 –4.9 –5.8 –6.0 –8.5 –6.1 –4.4 –3.6
Nondefense.........................................................
6.3
7.4
6.6
5.5
0.8 –3.8 –6.7 –3.9 –1.6
0.1
4.1
1.4 –2.0 –3.3 –4.4 –6.6 –3.1 –2.6
State and local ........................................................
–1.3 –2.4 –3.1 –4.0 –3.6 –3.8 –3.4 –2.3 –1.7 –1.2 –1.0 –1.0 –0.3
0.4
0.8
1.2
0.8
0.9
Addenda:
Final sales of domestic product ..............................
0.4
1.0
0.8
2.0
1.8
1.6
2.1
1.5
2.3
2.2
2.1
2.1
2.0
2.0
2.1
2.6
1.8
2.0
Gross domestic purchases .....................................
1.3
3.4
3.8
3.2
2.3
1.5
0.9
1.7
2.6
2.3
2.6
1.3
1.4
1.6
2.0
2.8
2.0
2.5
Final sales to domestic purchasers ........................
0.1
1.7
1.6
2.5
2.2
1.4
1.7
1.5
2.2
2.2
2.0
1.8
1.7
1.8
1.8
2.2
1.9
2.1
Gross domestic income 1........................................
2.0
2.7
3.6
2.6
2.6
2.4
1.7
2.1
3.8
3.4
3.1
3.3
1.9
2.4
2.5
2.0
1.4 ..........
Gross national product............................................
2.0
3.1
3.0
2.9
2.0
1.8
1.5
2.0
2.6
2.3
2.4
1.3
1.5
1.6
2.3
3.2
1.9 ..........
Real disposable personal income ...........................
–0.4
0.2
1.8
2.6
3.8
2.3
2.3
1.7
2.1
2.8
2.2
5.0 –0.1
0.3
0.9 –1.9
2.4
2.4
Price indexes:
Gross domestic purchases..................................
1.4
1.6
1.6
1.6
1.9
2.6
2.7
2.4
2.2
1.6
1.4
1.6
1.3
1.2
1.3
1.3
1.3
1.6
Gross domestic purchases excluding food and
energy 2 ...........................................................
1.0
1.2
1.4
1.4
1.5
1.8
2.0
1.9
2.0
1.6
1.5
1.6
1.4
1.3
1.4
1.5
1.4
1.6
GDP ....................................................................
0.5
1.1
1.6
1.8
1.9
2.2
2.3
1.9
2.0
1.7
1.6
1.8
1.6
1.5
1.4
1.4
1.4
1.6
GDP excluding food and energy 2 .......................
1.1
1.4
1.6
1.6
1.7
2.0
2.1
1.9
2.0
1.7
1.5
1.7
1.5
1.5
1.6
1.7
1.6
1.7
PCE.....................................................................
2.1
1.8
1.4
1.3
1.7
2.6
2.9
2.7
2.4
1.7
1.5
1.6
1.4
1.1
1.2
1.0
1.1
1.6
PCE excluding food and energy 2 .......................
1.6
1.3
1.3
1.0
1.1
1.4
1.7
1.9
2.0
1.9
1.7
1.6
1.5
1.3
1.3
1.3
1.2
1.5
Market-based PCE 3 ...........................................
2.1
1.6
1.2
1.1
1.6
2.7
2.9
2.8
2.5
1.7
1.5
1.5
1.3
1.0
1.1
0.9
0.9
1.5
Market-based PCE excluding food and energy 3
1.4
1.1
1.0
0.7
0.9
1.3
1.6
1.9
2.0
1.9
1.7
1.5
1.4
1.1
1.2
1.2
1.0
1.3
1.Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment)
and the final consumption expenditures of nonprofit institutions serving households.
- 33 -
Table 9. Relation of Gross Domestic Product, Gross National Product, and National Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gross domestic product ....................................................................
Plus: Income receipts from the rest of the world ..................................
Less: Income payments to the rest of the world ...................................
Equals: Gross national product ........................................................
Less: Consumption of fixed capital .......................................................
Less: Statistical discrepancy ................................................................
Equals: National income....................................................................
Compensation of employees.............................................................
Wages and salaries.......................................................................
Supplements to wages and salaries .............................................
Proprietors’ income with inventory valuation and capital
consumption adjustments .............................................................
Rental income of persons with capital consumption adjustment ......
Corporate profits with inventory valuation and capital consumption
adjustments...................................................................................
Net interest and miscellaneous payments ........................................
Taxes on production and imports less subsidies...............................
Business current transfer payments (net) .........................................
Current surplus of government enterprises ......................................
Addendum:
Gross domestic income ....................................................................
II
2011
III
IV
I
Line
II
III
IV
14,964.4 15,517.9 16,163.2 16,768.1 14,681.1 14,888.6 15,057.7 15,230.2 15,238.4 15,460.9 15,587.1 15,785.3
720.0
792.6
793.8
810.4
696.6
712.0
720.5
751.0
765.1
791.2
811.4
802.9
514.1
546.0
566.5
586.1
493.0
506.7
520.8
535.7
537.0
560.1
555.8
531.1
15,170.3 15,764.6 16,390.5 16,992.4 14,884.7 15,093.9 15,257.4 15,445.4 15,466.5 15,692.0 15,842.6 16,057.1
2,381.6 2,450.6 2,530.2 2,627.2 2,369.8 2,374.9 2,382.5 2,399.1 2,419.4 2,442.9 2,462.6 2,477.7
49.2
–38.3 –209.2 –211.9
57.8
98.2
6.1
34.8
–44.1
–6.8
–74.7
–27.7
12,739.5 13,352.3 14,069.5 14,577.1 12,457.0 12,620.8 12,868.8 13,011.5 13,091.2 13,255.9 13,454.8 13,607.2
7,961.4 8,269.0 8,606.5 8,844.8 7,801.7 7,947.1 8,019.1 8,077.9 8,209.7 8,248.9 8,332.0 8,285.4
6,377.5 6,633.2 6,932.1 7,124.7 6,239.6 6,365.5 6,426.4 6,478.6 6,583.6 6,615.5 6,689.6 6,643.9
1,583.9 1,635.9 1,674.4 1,720.1 1,562.1 1,581.6 1,592.8 1,599.3 1,626.1 1,633.4 1,642.4 1,641.6
1
2
3
4
5
6
7
8
9
10
1,032.7
402.8
1,143.7
485.3
1,260.2
533.0
1,336.6
595.8
1,017.6
380.5
1,024.7
397.3
1,029.2
408.3
1,059.3
425.0
1,103.2
460.1
1,125.2
478.0
1,161.8
491.6
1,184.5
511.6
11
12
1,746.4
489.4
1,001.2
128.5
–22.9
1,816.6
488.1
1,042.6
131.5
–24.5
2,022.8
491.7
1,074.0
106.7
–25.3
2,106.9
499.8
1,102.3
120.6
–29.6
1,658.5
503.3
987.3
129.3
–21.2
1,666.4
482.7
998.7
126.5
–22.6
1,814.0
483.6
1,006.9
131.1
–23.5
1,846.7
488.0
1,012.1
127.0
–24.3
1,677.4
493.5
1,029.1
142.6
–24.5
1,790.0
465.6
1,044.3
127.9
–24.1
1,826.6
493.4
1,043.0
131.0
–24.6
1,972.5
499.6
1,053.8
124.6
–24.9
13
14
15
16
17
14,915.2 15,556.3 16,372.3 16,980.0 14,623.2 14,790.4 15,051.5 15,195.4 15,282.5 15,467.7 15,661.8 15,813.1
18
Seasonally adjusted at annual rates
Line
2012
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gross domestic product ....................................................................
Plus: Income receipts from the rest of the world ..................................
Less: Income payments to the rest of the world ...................................
Equals: Gross national product ........................................................
Less: Consumption of fixed capital .......................................................
Less: Statistical discrepancy ................................................................
Equals: National income....................................................................
Compensation of employees.............................................................
Wages and salaries.......................................................................
Supplements to wages and salaries .............................................
Proprietors’ income with inventory valuation and capital
consumption adjustments .............................................................
Rental income of persons with capital consumption adjustment ......
Corporate profits with inventory valuation and capital consumption
adjustments...................................................................................
Net interest and miscellaneous payments ........................................
Taxes on production and imports less subsidies...............................
Business current transfer payments (net) .........................................
Current surplus of government enterprises ......................................
Addendum:
Gross domestic income ....................................................................
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
15,956.5
804.1
565.5
16,195.0
2,499.7
–219.1
13,914.4
8,523.0
6,861.0
1,662.1
16,094.7
786.3
555.9
16,325.0
2,521.7
–181.7
13,984.9
8,543.8
6,877.2
1,666.6
16,268.9
785.7
570.7
16,484.0
2,540.9
–134.6
14,077.7
8,576.6
6,902.7
1,673.9
16,332.5
799.3
573.7
16,558.0
2,558.4
–301.3
14,301.0
8,782.5
7,087.4
1,695.1
16,502.4
791.2
582.4
16,711.2
2,585.4
–250.3
14,376.1
8,734.4
7,034.1
1,700.3
16,619.2
804.4
589.5
16,834.0
2,612.7
–290.2
14,511.5
8,826.3
7,110.9
1,715.4
16,872.3
814.2
583.4
17,103.1
2,640.2
–187.6
14,650.5
8,871.6
7,145.3
1,726.2
17,078.3
831.8
588.9
17,321.2
2,670.5
–119.5
14,770.2
8,946.8
7,208.5
1,738.3
17,044.0
822.6
611.6
17,255.0
2,698.7
–181.4
14,737.7
9,100.2
7,343.6
1,756.6
17,294.7
.................
.................
.................
2,721.5
.................
.................
9,235.0
7,462.2
1,772.8
1
2
3
4
5
6
7
8
9
10
1,226.4
516.6
1,256.1
526.5
1,266.1
537.1
1,292.3
551.7
1,327.8
575.0
1,330.0
590.8
1,345.9
604.2
1,342.7
613.3
1,351.0
622.9
1,364.1
635.9
11
12
1,977.9
503.6
1,071.6
119.2
–23.9
2,024.8
473.4
1,074.0
110.8
–24.5
2,041.0
509.5
1,070.9
102.0
–25.4
2,047.6
480.3
1,079.4
94.6
–27.3
2,039.4
517.4
1,094.8
115.1
–27.8
2,103.6
477.1
1,091.1
122.3
–29.6
2,140.7
493.3
1,106.5
118.4
–30.1
2,143.8
511.2
1,116.8
126.6
–31.0
1,942.1 .................
506.5
459.3
1,126.8
1,139.6
119.2
122.5
–31.1
–33.6
13
14
15
16
17
16,175.6
16,276.3
16,403.5
16,633.8
16,752.7
16,909.3
17,060.0
17,197.8
17,225.4 .................
18
- 34 -
Table 10. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
I
1 Personal income 1 ..............................................................................
2 Compensation of employees.............................................................
3
Wages and salaries.......................................................................
4
Supplements to wages and salaries .............................................
5 Proprietors’ income with inventory valuation and capital
consumption adjustments .............................................................
6
Farm..............................................................................................
7
Nonfarm ........................................................................................
8 Rental income of persons with capital consumption adjustment
9 Personal income receipts on assets .................................................
10
Personal interest income...............................................................
11
Personal dividend income .............................................................
12 Personal current transfer receipts .....................................................
13 Less: Contributions for government social insurance, domestic
14 Less: Personal current taxes ................................................................
15 Equals: Disposable personal income ...............................................
16 Less: Personal outlays..........................................................................
17 Equals: Personal saving ....................................................................
18 Personal saving as a percentage of disposable personal income
Addenda:
19 Personal income excluding current transfer receipts, billions of
chained (2009) dollars 2 ................................................................
20 Disposable personal income, billions of chained (2009) dollars 2
II
2011
III
IV
I
II
Line
III
IV
12,429.3 13,202.0 13,887.7 14,166.9 12,187.1 12,365.6 12,496.1 12,668.6 13,025.1 13,142.2 13,294.8 13,345.8
7,961.4 8,269.0 8,606.5 8,844.8 7,801.7 7,947.1 8,019.1 8,077.9 8,209.7 8,248.9 8,332.0 8,285.4
6,377.5 6,633.2 6,932.1 7,124.7 6,239.6 6,365.5 6,426.4 6,478.6 6,583.6 6,615.5 6,689.6 6,643.9
1,583.9 1,635.9 1,674.4 1,720.1 1,562.1 1,581.6 1,592.8 1,599.3 1,626.1 1,633.4 1,642.4 1,641.6
1
2
3
4
1,032.7 1,143.7 1,260.2 1,336.6 1,017.6 1,024.7 1,029.2 1,059.3 1,103.2 1,125.2 1,161.8 1,184.5
46.0
75.5
72.3
83.2
39.2
43.2
48.4
53.2
75.6
72.3
77.9
76.4
986.7 1,068.1 1,187.9 1,253.5
978.5
981.5
980.8 1,006.0 1,027.6 1,052.9 1,083.8 1,108.1
402.8
485.3
533.0
595.8
380.5
397.3
408.3
425.0
460.1
478.0
491.6
511.6
1,739.6 1,913.9 2,088.6 2,079.7 1,706.0 1,719.7 1,739.4 1,793.5 1,854.2 1,897.2 1,932.2 1,971.9
1,195.0 1,231.6 1,255.9 1,255.2 1,201.5 1,195.6 1,184.2 1,198.9 1,217.2 1,236.1 1,234.7 1,238.4
544.6
682.2
832.7
824.5
504.6
524.1
555.2
594.6
637.0
661.1
697.5
733.4
2,276.9 2,307.9 2,350.7 2,414.5 2,253.3 2,260.9 2,288.4 2,305.1 2,311.5 2,309.2 2,301.2 2,309.7
984.1
917.8
951.2 1,104.5
972.0
984.0
988.4
992.0
913.6
916.3
924.1
917.2
1,191.5 1,400.6 1,503.7 1,661.8 1,145.6 1,167.9 1,209.4 1,242.9 1,372.9 1,390.6 1,418.1 1,420.9
11,237.9 11,801.4 12,384.0 12,505.1 11,041.5 11,197.6 11,286.7 11,425.7 11,652.2 11,751.7 11,876.6 11,924.9
10,609.8 11,090.2 11,487.9 11,897.1 10,462.1 10,545.3 10,636.7 10,795.2 10,925.2 11,050.6 11,156.3 11,228.7
628.0
711.1
896.2
608.1
579.4
652.3
650.0
630.5
727.0
701.0
720.3
696.2
5.6
6.0
7.2
4.9
5.2
5.8
5.8
5.5
6.2
6.0
6.1
5.8
5
6
7
8
9
10
11
12
13
14
15
16
17
18
9,987.3 10,460.1 10,877.6 10,949.5 9,808.3 9,965.9 10,037.8 10,137.2 10,401.7 10,412.2 10,510.8 10,515.2
11,055.1 11,331.2 11,676.2 11,650.8 10,902.0 11,043.8 11,098.8 11,176.2 11,312.9 11,295.2 11,355.1 11,362.0
19
20
Seasonally adjusted at annual rates
Line
2012
I
1 Personal income 1 ..............................................................................
2 Compensation of employees.............................................................
3
Wages and salaries.......................................................................
4
Supplements to wages and salaries .............................................
5 Proprietors’ income with inventory valuation and capital
consumption adjustments .............................................................
6
Farm..............................................................................................
7
Nonfarm ........................................................................................
8 Rental income of persons with capital consumption adjustment
9 Personal income receipts on assets .................................................
10
Personal interest income...............................................................
11
Personal dividend income .............................................................
12 Personal current transfer receipts .....................................................
13 Less: Contributions for government social insurance, domestic
14 Less: Personal current taxes ................................................................
15 Equals: Disposable personal income ...............................................
16 Less: Personal outlays..........................................................................
17 Equals: Personal saving ....................................................................
18 Personal saving as a percentage of disposable personal income
Addenda:
19 Personal income excluding current transfer receipts, billions of
chained (2009) dollars 2 ................................................................
20 Disposable personal income, billions of chained (2009) dollars 2
II
2013
III
IV
I
II
2014
III
IV
I
Line
II
13,650.7
8,523.0
6,861.0
1,662.1
13,776.1
8,543.8
6,877.2
1,666.6
13,828.9
8,576.6
6,902.7
1,673.9
14,295.1
8,782.5
7,087.4
1,695.1
13,977.2
8,734.4
7,034.1
1,700.3
14,131.3
8,826.3
7,110.9
1,715.4
14,247.4
8,871.6
7,145.3
1,726.2
14,311.7
8,946.8
7,208.5
1,738.3
14,488.3
9,100.2
7,343.6
1,756.6
14,696.3
9,235.0
7,462.2
1,772.8
1
2
3
4
1,226.4
71.7
1,154.7
516.6
2,001.0
1,250.2
750.8
2,327.9
944.1
1,464.7
12,186.0
11,365.0
821.0
6.7
1,256.1
72.5
1,183.6
526.5
2,045.7
1,266.7
779.1
2,348.8
944.8
1,479.5
12,296.6
11,433.7
863.0
7.0
1,266.1
71.9
1,194.2
537.1
2,041.6
1,248.9
792.7
2,354.5
946.9
1,505.1
12,323.8
11,523.5
800.3
6.5
1,292.3
73.2
1,219.1
551.7
2,265.9
1,257.8
1,008.1
2,371.7
968.9
1,565.4
12,729.7
11,629.2
1,100.5
8.6
1,327.8
92.2
1,235.6
575.0
2,035.9
1,245.5
790.4
2,394.8
1,090.7
1,636.8
12,340.4
11,760.6
579.8
4.7
1,330.0
83.6
1,246.5
590.8
2,081.9
1,253.5
828.4
2,404.5
1,102.1
1,660.6
12,470.7
11,823.9
646.9
5.2
1,345.9
86.8
1,259.2
604.2
2,106.9
1,258.5
848.4
2,426.6
1,107.8
1,661.5
12,585.8
11,933.1
652.8
5.2
1,342.7
70.1
1,272.6
613.3
2,094.2
1,263.2
831.0
2,432.3
1,117.5
1,688.1
12,623.7
12,070.8
552.9
4.4
1,351.0
58.1
1,292.9
622.9
2,090.4
1,262.4
828.0
2,470.9
1,147.0
1,712.5
12,775.8
12,146.9
629.0
4.9
1,364.1
56.9
1,307.2
635.9
2,120.7
1,266.9
853.9
2,504.4
1,163.7
1,727.7
12,968.5
12,285.7
682.9
5.3
5
6
7
8
9
10
11
12
13
14
15
16
17
18
10,731.7
11,549.8
10,795.0
11,616.2
10,804.4
11,604.1
11,177.5
11,933.4
10,829.8
11,538.6
10,952.3
11,647.0
10,994.3
11,705.9
11,021.2
11,711.7
11,111.5
11,812.7
11,208.4
11,922.3
19
20
1. Personal income is also equal to national income less corporate profits with inventory valuation and capital
consumption adjustments, taxes on production and imports less subsidies, contributions for government social
insurance, net interest and miscellaneous payments, business current transfer payments (net), and current
surplus of government enterprises, plus personal income receipts on assets, and personal current transfer
receipts.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
- 35 -
Table 11A. Corporate Profits
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1 Corporate profits with inventory valuation and capital consumption
adjustments.............................................................................................
2 Less: Taxes on corporate income .................................................................
3 Equals: Profits after tax with inventory valuation and capital
consumption adjustments .....................................................................
4 Net dividends ............................................................................................
5 Undistributed profits with inventory valuation and capital consumption
adjustments...........................................................................................
Addenda for corporate cash flow:
6 Net cash flow with inventory valuation adjustment.............................
7
Undistributed profits with inventory valuation and capital consumption
adjustments.......................................................................................
8
Consumption of fixed capital .................................................................
9
Less: Capital transfers paid (net) ..........................................................
Addenda:
10 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
11 Profits after tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
12 Inventory valuation adjustment .................................................................
13 Capital consumption adjustment...............................................................
2010
2011
2012
2013
2010
2011
Line
I
II
III
IV
I
II
III
IV
1,746.4
370.6
1,816.6
379.1
2,022.8
454.8
2,106.9
474.3
1,658.5
344.8
1,666.4
351.7
1,814.0
387.5
1,846.7
398.3
1,677.4
397.5
1,790.0
383.4
1,826.6
351.0
1,972.5
384.5
1
2
1,375.9
564.0
1,437.5
703.7
1,568.0
857.1
1,632.6
959.6
1,313.7
521.8
1,314.8
542.8
1,426.6
576.0
1,448.4
615.2
1,279.9
658.0
1,406.6
681.8
1,475.6
719.1
1,588.0
755.9
3
4
811.9
733.9
710.9
673.0
791.8
772.0
850.5
833.3
621.9
724.8
756.6
832.1
5
2,094.9
2,071.5
2,066.5
2,080.8
2,052.9
2,101.8
2,131.4
2,093.7
1,921.3
2,059.2
2,097.3
2,208.3
6
811.9
1,262.5
–20.6
733.9
1,298.8
–38.8
710.9
1,348.5
–7.1
673.0
1,402.1
–5.7
791.8
1,256.8
–4.2
772.0
1,259.5
–70.3
850.5
1,262.4
–18.4
833.3
1,271.1
10.7
621.9
1,281.1
–18.2
724.8
1,294.4
–40.0
756.6
1,305.5
–35.2
832.1
1,314.3
–61.9
7
8
9
1,840.7
1,806.8
2,136.1
2,235.3
1,795.0
1,788.4
1,886.5
1,892.8
1,747.7
1,806.5
1,781.4
1,891.6
10
1,470.1
–41.0
–53.3
1,427.7
–68.3
78.1
1,681.3
–9.5
–103.8
1,761.1
3.3
–131.8
1,450.2
–40.1
–96.4
1,436.8
–20.6
–101.4
1,499.1
–18.1
–54.4
1,494.5
–85.3
39.2
1,350.2
–143.9
73.5
1,423.1
–89.5
72.9
1,430.4
–32.6
77.8
1,507.1
–7.2
88.1
11
12
13
Seasonally adjusted at annual rates
Line
2012
I
1 Corporate profits with inventory valuation and capital consumption
adjustments.............................................................................................
2 Less: Taxes on corporate income .................................................................
3 Equals: Profits after tax with inventory valuation and capital
consumption adjustments .....................................................................
4 Net dividends ............................................................................................
5 Undistributed profits with inventory valuation and capital consumption
adjustments...........................................................................................
Addenda for corporate cash flow:
6 Net cash flow with inventory valuation adjustment.............................
7
Undistributed profits with inventory valuation and capital consumption
adjustments.......................................................................................
8
Consumption of fixed capital .................................................................
9
Less: Capital transfers paid (net) ..........................................................
Addenda:
10 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
11 Profits after tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
12 Inventory valuation adjustment .................................................................
13 Capital consumption adjustment...............................................................
2013
II
III
IV
1,977.9
451.3
2,024.8
473.5
2,041.0
440.6
2,047.6
453.8
1,526.6
774.9
1,551.2
803.7
1,600.4
817.3
751.8
747.5
2,106.4
2014
Line
II
III
IV
2,039.4
474.9
2,103.6
459.2
2,140.7
467.5
2,143.8
495.4
1,942.1
562.3
1
2
1,593.8
1,032.7
1,564.5
835.5
1,644.4
1,098.7
1,673.1
911.7
1,648.4
992.3
1,379.8
902.8
3
4
783.1
561.1
729.0
545.7
761.5
656.0
477.1
5
2,099.4
2,147.1
1,913.2
2,119.3
1,946.8
2,174.8
2,082.5
1,919.5
6
751.8
1,329.8
–24.8
747.5
1,344.4
–7.5
783.1
1,355.1
–9.0
561.1
1,365.0
12.9
729.0
1,380.7
–9.6
545.7
1,395.5
–5.7
761.5
1,408.8
–4.5
656.0
1,423.6
–2.8
477.1
1,435.1
–7.4
7
8
9
2,120.9
2,119.4
2,155.7
2,148.4
2,169.0
2,219.8
2,270.9
2,281.6
2,297.2
10
1,669.7
–32.3
–110.7
1,645.9
11.3
–106.0
1,715.1
–13.9
–100.8
1,694.6
–3.1
–97.8
1,694.1
–1.7
–127.9
1,760.7
15.2
–131.4
1,803.4
2.8
–133.1
1,786.1
–3.0
–134.8
1,734.9
–24.6
–330.5
11
12
13
- 36 -
I
I
Table 11B. Corporate Profits: Percent Change From Preceding Period
Quarterly rates
Line
2010
2011
2012
2013
2010
I
II
2011
III
IV
I
II
Line
III
IV
1 Corporate profits with inventory valuation and capital consumption
adjustments.............................................................................................
25.0
4.0
11.3
4.2
6.0
0.5
8.9
1.8
–9.2
6.7
2.0
8.0
2 Less: Taxes on corporate income .................................................................
37.5
2.3
20.0
4.3
2.2
2.0
10.2
2.8
–0.2
–3.6
–8.4
9.5
3 Equals: Profits after tax with inventory valuation and capital
22.0
4.5
9.1
4.1
7.0
0.1
8.5
1.5
–11.6
9.9
4.9
7.6
consumption adjustments .....................................................................
4 Net dividends ............................................................................................
–1.9
24.8
21.8
12.0
3.2
4.0
6.1
6.8
7.0
3.6
5.5
5.1
5 Undistributed profits with inventory valuation and capital consumption
adjustments...........................................................................................
46.8
–9.6
–3.1
–5.3
9.7
–2.5
10.2
–2.0
–25.4
16.5
4.4
10.0
Addenda for corporate cash flow:
6 Net cash flow with inventory valuation adjustment.............................
10.4
–1.1
–0.2
0.7
2.5
2.4
1.4
–1.8
–8.2
7.2
1.8
5.3
7
Undistributed profits with inventory valuation and capital consumption
adjustments.......................................................................................
46.8
–9.6
–3.1
–5.3
9.7
–2.5
10.2
–2.0
–25.4
16.5
4.4
10.0
8
Consumption of fixed capital .................................................................
0.1
2.9
3.8
4.0
0.0
0.2
0.2
0.7
0.8
1.0
0.9
0.7
9
Less: Capital transfers paid (net) .......................................................... .............. ............. .............. .............. .............. .............. ............. .............. .............. ............. .............. ..............
Addenda:
10 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
25.0
–1.8
18.2
4.6
4.9
–0.4
5.5
0.3
–7.7
3.4
–1.4
6.2
11 Profits after tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
22.2
–2.9
17.8
4.7
5.5
–0.9
4.3
–0.3
–9.6
5.4
0.5
5.4
12 Inventory valuation adjustment ................................................................. .............. ............. .............. .............. .............. .............. ............. .............. .............. ............. .............. ..............
13 Capital consumption adjustment............................................................... .............. ............. .............. .............. .............. .............. ............. .............. .............. ............. .............. ..............
1
2
3
4
5
6
7
8
9
10
11
12
13
Quarterly rates
Line
2012
I
II
2013
III
IV
I
II
2014
III
IV
I
1 Corporate profits with inventory valuation and capital consumption
adjustments.............................................................................................
0.3
2.4
0.8
0.3
–0.4
3.1
1.8
0.1
–9.4
2 Less: Taxes on corporate income .................................................................
17.4
4.9
–7.0
3.0
4.7
–3.3
1.8
6.0
13.5
3 Equals: Profits after tax with inventory valuation and capital
–3.9
1.6
3.2
–0.4
–1.8
5.1
1.7
–1.5
–16.3
consumption adjustments .....................................................................
4 Net dividends ............................................................................................
2.5
3.7
1.7
26.3
–19.1
31.5
–17.0
8.8
–9.0
5 Undistributed profits with inventory valuation and capital consumption
adjustments...........................................................................................
–9.7
–0.6
4.8
–28.4
29.9
–25.1
39.5
–13.8
–27.3
Addenda for corporate cash flow:
6 Net cash flow with inventory valuation adjustment.............................
–4.6
–0.3
2.3
–10.9
10.8
–8.1
11.7
–4.2
–7.8
7
Undistributed profits with inventory valuation and capital consumption
adjustments.......................................................................................
–9.7
–0.6
4.8
–28.4
29.9
–25.1
39.5
–13.8
–27.3
8
Consumption of fixed capital .................................................................
1.2
1.1
0.8
0.7
1.1
1.1
1.0
1.0
0.8
9
Less: Capital transfers paid (net) .......................................................... ................... ................... ................... .................... ................... ................... ................... ................... ...................
Addenda:
10 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
12.1
–0.1
1.7
–0.3
1.0
2.3
2.3
0.5
0.7
11 Profits after tax (without inventory valuation and capital consumption
10.8
–1.4
4.2
–1.2
0.0
3.9
2.4
–1.0
–2.9
adjustments)..........................................................................................
12 Inventory valuation adjustment ................................................................. ................... ................... ................... .................... ................... ................... ................... ................... ...................
13 Capital consumption adjustment............................................................... ................... ................... ................... .................... ................... ................... ................... ................... ...................
- 37 -
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
Table 12A. Corporate Profits by Industry—Continues
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
2010
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.............................................................................................
1,746.4
1,351.2
368.2
983.0
395.2
584.6
189.4
1,799.7
1,404.5
406.3
71.6
334.8
998.2
30.3
287.6
128.1
15.3
17.4
46.9
10.2
–9.7
48.0
159.5
46.1
24.8
64.7
23.9
102.4
118.6
44.7
95.1
319.5
395.2
2011
1,816.6
1,394.7
355.7
1,039.0
421.9
644.3
222.4
1,738.5
1,316.6
375.9
75.9
300.0
940.7
9.8
298.1
132.5
16.1
24.3
32.7
4.8
–0.3
54.8
165.6
40.6
45.8
58.2
20.9
94.4
114.3
30.4
83.8
309.9
421.9
2012
2,022.8
1,621.0
451.5
1,169.4
401.8
644.3
242.5
2,126.6
1,724.8
488.9
71.7
417.2
1,235.9
12.9
404.2
204.1
23.8
32.5
45.7
11.8
22.1
68.2
200.1
45.5
54.3
68.9
31.4
136.6
157.2
51.9
101.1
372.0
401.8
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
- 38 -
2013
2,106.9
1,703.8
490.0
1,213.8
403.1
657.1
254.0
2,238.7
1,835.6
533.5
79.6
453.9
1,302.1
20.9
402.4
206.3
23.3
33.2
43.7
13.1
22.7
70.2
196.1
54.2
42.9
66.3
32.8
154.5
171.2
62.6
108.3
382.2
403.1
2010
2011
Line
I
II
III
IV
I
II
III
IV
1,658.5
1,260.8
344.4
916.4
397.7
565.8
168.1
1,754.9
1,357.2
387.6
71.6
316.1
969.6
44.8
229.9
104.5
12.7
12.5
43.9
9.2
–19.4
45.5
125.3
43.2
18.5
43.0
20.6
99.3
121.0
39.2
93.9
341.5
397.7
1,666.4
1,271.8
320.9
951.0
394.6
577.0
182.4
1,767.8
1,373.2
363.5
74.0
289.6
1,009.7
14.9
286.4
121.1
12.6
15.3
42.5
11.8
–8.7
47.6
165.3
46.0
33.6
61.9
23.8
118.2
119.3
50.4
94.9
325.7
394.6
1,814.0
1,429.4
379.0
1,050.4
384.6
584.2
199.6
1,868.5
1,483.8
416.8
71.4
345.5
1,067.0
35.9
327.6
145.7
17.5
20.1
49.1
11.3
–1.2
48.9
181.8
51.9
20.3
82.6
27.1
114.7
118.3
52.1
101.4
317.1
384.6
1,846.7
1,442.9
428.7
1,014.2
403.8
611.5
207.6
1,807.5
1,403.7
457.3
69.3
388.0
946.4
25.4
306.6
141.1
18.5
21.7
52.0
8.3
–9.5
50.0
165.5
43.3
26.8
71.3
24.1
77.4
115.7
37.2
90.3
293.7
403.8
1,677.4
1,270.6
350.0
920.6
406.8
625.8
219.0
1,603.8
1,197.0
373.3
72.4
300.9
823.7
–2.9
261.1
110.5
14.6
20.6
31.7
6.0
–7.3
45.0
150.6
41.1
29.7
57.3
22.4
71.7
108.1
26.8
84.1
274.8
406.8
1,790.0
1,381.3
336.8
1,044.5
408.7
644.6
235.9
1,717.1
1,308.3
357.7
80.0
277.7
950.6
29.5
283.1
117.1
14.2
22.8
30.7
4.3
–3.3
48.5
166.0
42.8
60.0
45.8
17.5
89.8
103.5
29.4
89.5
325.9
408.7
1,826.6
1,392.3
317.1
1,075.3
434.3
661.9
227.6
1,748.8
1,314.5
336.1
76.6
259.5
978.4
4.8
314.3
134.4
16.4
25.2
29.3
3.6
–0.9
60.8
179.9
35.3
65.6
59.8
19.1
109.5
112.8
26.7
82.3
328.1
434.3
1,972.5
1,534.7
419.1
1,115.6
437.8
645.0
207.2
1,884.3
1,446.5
436.6
74.7
361.9
1,009.9
7.9
333.8
168.0
19.2
28.7
39.2
5.3
10.5
65.0
165.8
43.2
27.9
70.0
24.6
106.7
132.6
38.9
79.4
310.6
437.8
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Table 12A. Corporate Profits by Industry—Table Ends
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2012
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Corporate profits with inventory valuation and capital consumption
adjustments.........................................................................................
Domestic industries.......................................................................................
Financial.......................................................................................................
Nonfinancial .................................................................................................
Rest of the world............................................................................................
Receipts from the rest of the world ..............................................................
Less: Payments to the rest of the world .......................................................
Corporate profits with inventory valuation adjustment ......................
Domestic industries.......................................................................................
Financial.......................................................................................................
Federal Reserve banks ............................................................................
Other financial ..........................................................................................
Nonfinancial .................................................................................................
Utilities......................................................................................................
Manufacturing...........................................................................................
Durable goods ......................................................................................
Fabricated metal products.................................................................
Machinery .........................................................................................
Computer and electronic products ....................................................
Electrical equipment, appliances, and components..........................
Motor vehicles, bodies and trailers, and parts...................................
Other durable goods .........................................................................
Nondurable goods ................................................................................
Food and beverage and tobacco products........................................
Petroleum and coal products ............................................................
Chemical products ............................................................................
Other nondurable goods ...................................................................
Wholesale trade........................................................................................
Retail trade ...............................................................................................
Transportation and warehousing ..............................................................
Information................................................................................................
Other nonfinancial ....................................................................................
Rest of the world............................................................................................
II
1,977.9
1,569.3
431.9
1,137.5
408.6
650.2
241.6
2,088.6
1,680.1
468.8
73.4
395.4
1,211.3
21.0
402.7
207.3
22.9
32.5
45.7
10.8
24.6
70.7
195.4
49.1
41.7
75.0
29.7
123.6
153.2
51.8
100.7
358.3
408.6
2,024.8
1,619.8
433.6
1,186.2
405.0
638.2
233.3
2,130.7
1,725.8
470.7
72.6
398.1
1,255.1
11.6
419.8
210.6
24.7
32.8
49.4
10.5
23.7
69.6
209.2
45.3
55.2
77.4
31.3
142.1
155.8
53.9
111.6
360.4
405.0
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
- 39 -
2013
III
2,041.0
1,649.6
487.0
1,162.6
391.4
638.7
247.3
2,141.8
1,750.4
524.4
67.5
456.9
1,226.0
12.1
392.6
199.7
24.2
35.3
46.0
11.5
19.0
63.7
192.9
46.6
54.6
58.5
33.1
134.4
149.2
53.3
102.5
381.9
391.4
IV
2,047.6
1,645.1
453.6
1,191.5
402.4
650.3
247.8
2,145.3
1,742.9
491.6
73.3
418.3
1,251.2
6.9
401.5
198.6
23.5
29.3
41.8
14.3
21.1
68.5
202.9
41.1
65.5
64.8
31.6
146.4
170.8
48.5
89.6
387.6
402.4
I
2,039.4
1,653.3
463.0
1,190.4
386.1
638.1
252.0
2,167.3
1,781.2
504.9
71.2
433.7
1,276.3
6.8
388.4
193.4
23.8
28.7
41.5
11.6
17.9
69.9
195.1
43.9
53.1
66.8
31.3
158.1
166.2
60.3
109.7
386.8
386.1
II
2,103.6
1,710.5
482.2
1,228.3
393.1
649.6
256.6
2,235.0
1,841.9
525.5
75.2
450.2
1,316.4
31.1
383.7
202.4
23.6
35.2
41.8
10.7
23.7
67.4
181.2
50.1
27.8
70.3
33.0
157.1
179.1
61.5
114.6
389.3
393.1
2014
III
2,140.7
1,731.1
510.0
1,221.1
409.6
662.9
253.4
2,273.7
1,864.2
554.1
82.3
471.8
1,310.1
30.0
392.3
216.7
23.2
34.4
44.2
14.9
24.5
75.5
175.6
58.7
26.5
58.0
32.4
154.8
175.4
62.8
103.2
391.7
409.6
IV
2,143.8
1,720.3
504.9
1,215.5
423.5
677.6
254.1
2,278.6
1,855.1
549.4
89.6
459.8
1,305.7
15.8
445.4
212.7
22.8
34.5
47.3
15.3
24.8
68.0
232.6
64.0
64.0
70.1
34.5
147.9
164.2
65.7
105.6
361.1
423.5
Line
I
1,942.1
1,544.6
418.7
1,125.9
397.5
668.7
271.2
2,272.6
1,875.1
480.8
88.7
392.2
1,394.2
42.3
432.5
234.8
24.9
34.6
51.7
18.8
27.1
77.8
197.7
46.7
51.7
68.7
30.6
152.0
168.1
73.6
123.0
402.6
397.5
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Table 12B. Corporate Profits by Industry: Change From Preceding Period—Continues
[Billions of dollars]
Change from preceding period
Line
2010
2011
2012
2013
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Corporate profits with inventory valuation and capital consumption
adjustments .........................................................................................
Domestic industries .......................................................................................
Financial .......................................................................................................
Nonfinancial ..................................................................................................
Rest of the world.............................................................................................
Receipts from the rest of the world ...............................................................
Less: Payments to the rest of the world ........................................................
Corporate profits with inventory valuation adjustment.......................
Domestic industries .......................................................................................
Financial .......................................................................................................
Federal Reserve banks .............................................................................
Other financial...........................................................................................
Nonfinancial ..................................................................................................
Utilities.......................................................................................................
Manufacturing ...........................................................................................
Durable goods .......................................................................................
Fabricated metal products .................................................................
Machinery..........................................................................................
Computer and electronic products.....................................................
Electrical equipment, appliances, and components ..........................
Motor vehicles, bodies and trailers, and parts ...................................
Other durable goods..........................................................................
Nondurable goods .................................................................................
Food and beverage and tobacco products ........................................
Petroleum and coal products .............................................................
Chemical products.............................................................................
Other nondurable goods....................................................................
Wholesale trade ........................................................................................
Retail trade................................................................................................
Transportation and warehousing ...............................................................
Information ................................................................................................
Other nonfinancial .....................................................................................
Rest of the world.............................................................................................
349.4
311.4
46.5
264.9
38.0
86.5
48.5
320.5
282.5
43.4
24.3
19.3
239.0
6.5
116.2
93.7
3.6
8.0
20.5
1.3
44.6
15.7
22.5
–0.3
11.1
6.1
5.7
13.1
9.9
22.3
13.9
57.2
38.0
70.2
43.5
–12.5
56.0
26.7
59.7
33.0
–61.2
–87.9
–30.4
4.3
–34.8
–57.5
–20.5
10.5
4.4
0.8
6.9
–14.2
–5.4
9.4
6.8
6.1
–5.5
21.0
–6.5
–3.0
–8.0
–4.3
–14.3
–11.3
–9.6
26.7
206.2
226.3
95.8
130.4
–20.1
0.0
20.1
388.1
408.2
113.0
–4.2
117.2
295.2
3.1
106.1
71.6
7.7
8.2
13.0
7.0
22.4
13.4
34.5
4.9
8.5
10.7
10.5
42.2
42.9
21.5
17.3
62.1
–20.1
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
- 40 -
84.1
82.8
38.5
44.4
1.3
12.8
11.5
112.1
110.8
44.6
7.9
36.7
66.2
8.0
–1.8
2.2
–0.5
0.7
–2.0
1.3
0.6
2.0
–4.0
8.7
–11.4
–2.6
1.4
17.9
14.0
10.7
7.2
10.2
1.3
93.8
66.6
–24.9
91.5
27.3
18.8
–8.5
111.4
84.1
–24.4
6.9
–31.1
108.5
9.3
29.9
38.9
4.3
2.2
14.5
–0.7
16.3
2.3
–9.1
–1.9
9.4
–14.7
–1.9
12.8
7.2
9.7
–9.1
48.7
27.3
2011
II
III
7.9
11.0
–23.5
34.6
–3.1
11.2
14.3
12.9
16.0
–24.1
2.4
–26.5
40.1
–29.9
56.5
16.6
–0.1
2.8
–1.4
2.6
10.7
2.1
40.0
2.8
15.1
18.9
3.2
18.9
–1.7
11.2
1.0
–15.8
–3.1
147.6
157.6
58.1
99.4
–10.0
7.2
17.2
100.7
110.6
53.3
–2.6
55.9
57.3
21.0
41.2
24.6
4.9
4.8
6.6
–0.5
7.5
1.3
16.5
5.9
–13.3
20.7
3.3
–3.5
–1.0
1.7
6.5
–8.6
–10.0
IV
32.7
13.5
49.7
–36.2
19.2
27.3
8.0
–61.0
–80.1
40.5
–2.1
42.5
–120.6
–10.5
–21.0
–4.6
1.0
1.6
2.9
–3.0
–8.3
1.1
–16.3
–8.6
6.5
–11.3
–3.0
–37.3
–2.6
–14.9
–11.1
–23.4
19.2
I
–169.3
–172.3
–78.7
–93.6
3.0
14.3
11.4
–203.7
–206.7
–84.0
3.1
–87.1
–122.7
–28.3
–45.5
–30.6
–3.9
–1.1
–20.3
–2.3
2.2
–5.0
–14.9
–2.2
2.9
–14.0
–1.7
–5.7
–7.6
–10.4
–6.2
–18.9
3.0
Line
II
III
IV
112.6
110.7
–13.2
123.9
1.9
18.8
16.9
113.3
111.3
–15.6
7.6
–23.2
126.9
32.4
22.0
6.6
–0.4
2.2
–1.0
–1.7
4.0
3.5
15.4
1.7
30.3
–11.5
–4.9
18.1
–4.6
2.6
5.4
51.1
1.9
36.6
11.0
–19.7
30.8
25.6
17.3
–8.3
31.7
6.2
–21.6
–3.4
–18.2
27.8
–24.7
31.2
17.3
2.2
2.4
–1.4
–0.7
2.4
12.3
13.9
–7.5
5.6
14.0
1.6
19.7
9.3
–2.7
–7.2
2.2
25.6
145.9
142.4
102.0
40.3
3.5
–16.9
–20.4
135.5
132.0
100.5
–1.9
102.4
31.5
3.1
19.5
33.6
2.8
3.5
9.9
1.7
11.4
4.2
–14.1
7.9
–37.7
10.2
5.5
–2.8
19.8
12.2
–2.9
–17.5
3.5
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Table 12B. Corporate Profits by Industry: Change From Preceding Period—Table Ends
[Billions of dollars]
Change from preceding period
2014
Line
2012
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Corporate profits with inventory valuation and capital consumption
adjustments .........................................................................................
Domestic industries .......................................................................................
Financial .......................................................................................................
Nonfinancial ..................................................................................................
Rest of the world.............................................................................................
Receipts from the rest of the world ...............................................................
Less: Payments to the rest of the world ........................................................
Corporate profits with inventory valuation adjustment.......................
Domestic industries .......................................................................................
Financial .......................................................................................................
Federal Reserve banks .............................................................................
Other financial...........................................................................................
Nonfinancial ..................................................................................................
Utilities.......................................................................................................
Manufacturing ...........................................................................................
Durable goods .......................................................................................
Fabricated metal products .................................................................
Machinery..........................................................................................
Computer and electronic products.....................................................
Electrical equipment, appliances, and components ..........................
Motor vehicles, bodies and trailers, and parts ...................................
Other durable goods..........................................................................
Nondurable goods .................................................................................
Food and beverage and tobacco products ........................................
Petroleum and coal products .............................................................
Chemical products.............................................................................
Other nondurable goods....................................................................
Wholesale trade ........................................................................................
Retail trade................................................................................................
Transportation and warehousing ...............................................................
Information ................................................................................................
Other nonfinancial .....................................................................................
Rest of the world.............................................................................................
II
5.4
34.6
12.8
21.9
–29.2
5.2
34.4
204.3
233.6
32.2
–1.3
33.5
201.4
13.1
68.9
39.3
3.7
3.8
6.5
5.5
14.1
5.7
29.6
5.9
13.8
5.0
5.1
16.9
20.6
12.9
21.3
47.7
–29.2
46.9
50.5
1.7
48.7
–3.6
–12.0
–8.3
42.1
45.7
1.9
–0.8
2.7
43.8
–9.4
17.1
3.3
1.8
0.3
3.7
–0.3
–0.9
–1.1
13.8
–3.8
13.5
2.4
1.6
18.5
2.6
2.1
10.9
2.1
–3.6
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
- 41 -
2013
III
16.2
29.8
53.4
–23.6
–13.6
0.5
14.0
11.1
24.6
53.7
–5.1
58.8
–29.1
0.5
–27.2
–10.9
–0.5
2.5
–3.4
1.0
–4.7
–5.9
–16.3
1.3
–0.6
–18.9
1.8
–7.7
–6.6
–0.6
–9.1
21.5
–13.6
IV
6.6
–4.5
–33.4
28.9
11.0
11.6
0.5
3.5
–7.5
–32.8
5.8
–38.6
25.2
–5.2
8.9
–1.1
–0.7
–6.0
–4.2
2.8
2.1
4.8
10.0
–5.5
10.9
6.3
–1.5
12.0
21.6
–4.8
–12.9
5.7
11.0
I
II
–8.2
8.2
9.4
–1.1
–16.3
–12.2
4.2
22.0
38.3
13.3
–2.1
15.4
25.1
–0.1
–13.1
–5.2
0.3
–0.6
–0.3
–2.7
–3.2
1.4
–7.8
2.8
–12.4
2.0
–0.3
11.7
–4.6
11.8
20.1
–0.8
–16.3
64.2
57.2
19.2
37.9
7.0
11.5
4.6
67.7
60.7
20.6
4.0
16.5
40.1
24.3
–4.7
9.0
–0.2
6.5
0.3
–0.9
5.8
–2.5
–13.9
6.2
–25.3
3.5
1.7
–1.0
12.9
1.2
4.9
2.5
7.0
Line
III
37.1
20.6
27.8
–7.2
16.5
13.3
–3.2
38.7
22.3
28.6
7.1
21.6
–6.3
–1.1
8.6
14.3
–0.4
–0.8
2.4
4.2
0.8
8.1
–5.6
8.6
–1.3
–12.3
–0.6
–2.3
–3.7
1.3
–11.4
2.4
16.5
IV
3.1
–10.8
–5.1
–5.6
13.9
14.7
0.7
4.9
–9.1
–4.7
7.3
–12.0
–4.4
–14.2
53.1
–4.0
–0.4
0.1
3.1
0.4
0.3
–7.5
57.0
5.3
37.5
12.1
2.1
–6.9
–11.2
2.9
2.4
–30.6
13.9
I
–201.7
–175.7
–86.2
–89.6
–26.0
–8.9
17.1
–6.0
20.0
–68.6
–0.9
–67.6
88.5
26.5
–12.9
22.1
2.1
0.1
4.4
3.5
2.3
9.8
–34.9
–17.3
–12.3
–1.4
–3.9
4.1
3.9
7.9
17.4
41.5
–26.0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Table 12C. Revisions to Corporate Profits by Industry
[Billions of dollars]
Billions of dollars
Line
Revised estimates
2011
1 Corporate profits with inventory valuation and capital consumption
adjustments.................................................................................................
2 Domestic industries ...................................................................................
3
Financial....................................................................................................
4
Nonfinancial ..............................................................................................
5 Rest of the world.........................................................................................
6
Receipts from the rest of the world ...........................................................
7
Less: Payments to the rest of the world ....................................................
8 Corporate profits with inventory valuation adjustment ..............................
9 Domestic industries ...................................................................................
10
Financial....................................................................................................
11
Federal Reserve banks .........................................................................
12
Other financial .......................................................................................
13
Nonfinancial ..............................................................................................
14
Utilities...................................................................................................
15
Manufacturing........................................................................................
16
Durable goods ...................................................................................
17
Nondurable goods .............................................................................
18
Wholesale trade ....................................................................................
19
Retail trade ............................................................................................
20
Transportation and warehousing ...........................................................
21
Information ............................................................................................
22
Other nonfinancial .................................................................................
23 Rest of the world.........................................................................................
24 Corporate profits before tax without inventory valuation and capital
consumption adjustments .........................................................................
Addenda:
25 Corporate profits after tax with inventory valuation and capital consumption
adjustments...............................................................................................
26 Net cash flow with inventory valuation adjustment.................................
27
Undistributed profits with inventory valuation and capital consumption
adjustments...........................................................................................
28
Consumption of fixed capital .....................................................................
29
Less: Capital transfers paid (net) ..............................................................
2012
Revisions to previously published
2013
2011
2012
2013
Revisions as a percent
of previously published
2011
2012
Line
2013
1,816.6
1,394.7
355.7
1,039.0
421.9
644.3
222.4
1,738.5
1,316.6
375.9
75.9
300.0
940.7
9.8
298.1
132.5
165.6
94.4
114.3
30.4
83.8
309.9
421.9
2,022.8
1,621.0
451.5
1,169.4
401.8
644.3
242.5
2,126.6
1,724.8
488.9
71.7
417.2
1,235.9
12.9
404.2
204.1
200.1
136.6
157.2
51.9
101.1
372.0
401.8
2,106.9
1,703.8
490.0
1,213.8
403.1
657.1
254.0
2,238.7
1,835.6
533.5
79.6
453.9
1,302.1
20.9
402.4
206.3
196.1
154.5
171.2
62.6
108.3
382.2
403.1
–61.1
–46.5
0.1
–46.6
–14.7
–9.4
5.2
–52.8
–38.2
–8.2
0.0
–8.1
–30.0
–1.3
–5.8
–3.1
–2.7
–1.9
–1.8
–1.7
–3.6
–13.8
–14.7
13.3
30.5
29.5
0.9
–17.1
–21.6
–4.5
–53.4
–36.3
11.5
0.0
11.5
–47.8
–24.2
–0.1
7.1
–7.2
–1.2
8.0
0.4
–9.5
–21.2
–17.1
4.8
17.8
33.5
–15.8
–12.9
–13.3
–0.3
–24.7
–11.8
21.5
–5.7
27.2
–33.2
–22.0
1.8
4.9
–3.1
2.3
10.0
3.9
–16.2
–13.0
–12.9
–3.3
–3.2
0.0
–4.3
–3.4
–1.4
2.4
–2.9
–2.8
–2.1
0.0
–2.6
–3.1
–11.7
–1.9
–2.3
–1.6
–2.0
–1.6
–5.3
–4.1
–4.3
–3.4
0.7
1.9
7.0
0.1
–4.1
–3.2
–1.8
–2.4
–2.1
2.4
0.0
2.8
–3.7
–65.2
0.0
3.6
–3.5
–0.9
5.4
0.8
–8.6
–5.4
–4.1
0.2
1.1
7.3
–1.3
–3.1
–2.0
–0.1
–1.1
–0.6
4.2
–6.7
6.4
–2.5
–51.3
0.4
2.4
–1.6
1.5
6.2
6.6
–13.0
–3.3
–3.1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
1,806.8
2,136.1
2,235.3
–40.6
–53.9
–28.4
–2.2
–2.5
–1.3
24
1,437.5
2,071.5
1,568.0
2,066.5
1,632.6
2,080.8
–66.0
–75.2
–6.7
–110.6
–50.6
–128.7
–4.4
–3.5
–0.4
–5.1
–3.0
–5.8
25
26
733.9
1,298.8
–38.8
710.9
1,348.5
–7.1
673.0
1,402.1
–5.7
–68.0
–7.2
0.0
–93.4
–17.2
0.0
–108.2
–8.5
–11.6
–13.9
–20.5
–0.6
–1.3
–1.4
0.0 ................... ................... ...................
27
28
29
- 42 -
Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business—Continues
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
2011
Line
I
II
III
IV
I
II
III
IV
Billions of dollars
1
Gross value added of nonfinancial corporate business .................
2 Consumption of fixed capital.........................................................................
3 Net value added ..........................................................................................
4 Compensation of employees.....................................................................
5
Wages and salaries...............................................................................
6
Supplements to wages and salaries .....................................................
7 Taxes on production and imports less subsidies.......................................
8 Net operating surplus................................................................................
9
Net interest and miscellaneous payments ............................................
10
Business current transfer payments (net) .............................................
11
Corporate profits with inventory valuation and capital consumption
adjustments.......................................................................................
12
Taxes on corporate income ...............................................................
13
Profits after tax with inventory valuation and capital consumption
adjustments ...................................................................................
14
Net dividends.................................................................................
15
Undistributed profits with inventory valuation and capital
consumption adjustments ..........................................................
Addenda:
16 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
17 Profits after tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
18 Inventory valuation adjustment .................................................................
19 Capital consumption adjustment...............................................................
7,238.7
1,094.6
6,144.2
4,158.7
3,446.1
712.6
633.0
1,352.5
286.2
83.3
7,592.3
1,139.2
6,453.1
4,363.4
3,622.9
740.4
670.6
1,419.1
289.7
90.4
8,030.3
1,183.8
6,846.5
4,592.9
3,826.5
766.4
692.2
1,561.3
299.5
92.4
8,287.0
1,229.8
7,057.2
4,749.4
3,956.0
793.3
715.2
1,592.6
293.8
85.0
7,069.8
1,087.8
5,982.0
4,077.7
3,379.7
698.0
624.6
1,279.8
282.7
80.6
7,189.1
1,091.6
6,097.5
4,148.1
3,437.4
710.7
631.1
1,318.3
286.1
81.3
7,343.3
1,095.1
6,248.2
4,188.8
3,470.8
718.0
636.3
1,423.2
287.6
85.1
7,352.8
1,103.9
6,249.0
4,220.3
3,496.6
723.7
640.1
1,388.6
288.3
86.1
7,412.4
1,118.8
6,293.6
4,335.3
3,599.9
735.4
661.5
1,296.8
287.4
88.7
7,578.3
1,135.0
6,443.3
4,350.3
3,612.2
738.1
671.5
1,421.5
288.0
89.1
7,671.3
1,147.4
6,524.0
4,395.1
3,648.9
746.1
671.5
1,457.5
290.4
91.8
7,707.2
1,155.7
6,551.5
4,372.7
3,630.6
742.1
678.0
1,500.7
293.0
92.2
1
2
3
4
5
6
7
8
9
10
983.0
220.6
1,039.0
228.8
1,169.4
271.4
1,213.8
329.3
916.4
208.8
951.0
220.2
1,050.4
229.3
1,014.2
223.9
920.6
219.8
1,044.5
225.8
1,075.3
235.6
1,115.6
234.0
11
12
762.4
375.5
810.2
441.0
898.1
520.6
884.5
536.9
707.6
356.8
730.8
346.3
821.1
394.3
790.3
404.4
700.9
414.4
818.7
432.2
839.6
447.9
881.6
469.7
13
14
387.0
369.2
377.5
347.6
350.8
384.4
426.8
385.9
286.4
386.5
391.8
411.9
15
1,039.2
1,009.0
1,245.4
1,298.8
1,009.7
1,030.3
1,085.1
1,031.6
967.6
1,040.1
1,011.0
1,017.1
16
818.6
–41.0
780.2
–68.3
974.1
–9.5
969.5
3.3
800.9
–40.1
810.1
–20.6
855.7
–18.1
807.7
–85.3
747.8
–143.9
814.3
–89.5
775.4
–32.6
783.1
–7.2
–15.2
98.3
–66.5
–88.3
–53.2
–58.7
–16.6
67.9
96.9
93.9
96.8
105.7
17
18
19
Billions of chained (2009) dollars
20
Gross value added of nonfinancial corporate business 1 ...............
21 Consumption of fixed capital 2 ......................................................................
22 Net value added 3 .........................................................................................
7,240.0
1,093.5
7,421.5
1,117.1
7,742.6
1,143.3
7,922.1
1,173.7
7,172.0
1,090.7
7,222.7
1,091.9
7,311.2
1,094.0
7,254.3
1,097.3
7,313.8
1,105.9
7,421.1
1,113.7
7,422.7
1,120.9
7,528.4
1,127.7
6,146.6
6,304.5
6,599.3
6,748.4
6,081.3
6,130.8
6,217.2
6,156.9
6,207.8
6,307.5
6,301.8
6,400.7
20
21
22
Dollars; quarters seasonally adjusted
23
24
25
26
27
28
29
30
31
Price, costs, and profits per unit of real gross value added of
nonfinancial corporate business:
Price per unit of real gross value added of nonfinancial corporate
business 4 ............................................................................................
Compensation of employees (unit labor cost)...........................................
Unit nonlabor cost.....................................................................................
Consumption of fixed capital .................................................................
Taxes on production and imports less subsidies plus business current
transfer payments (net) .....................................................................
Net interest and miscellaneous payments ............................................
Corporate profits with inventory valuation and capital consumption
adjustments (unit profits from current production).................................
Taxes on corporate income ...................................................................
Profits after tax with inventory valuation and capital consumption
adjustments.......................................................................................
1.000
0.574
0.290
0.151
1.023
0.588
0.296
0.154
1.037
0.593
0.293
0.153
1.046
0.600
0.293
0.155
0.986
0.569
0.289
0.152
0.995
0.574
0.290
0.151
1.004
0.573
0.288
0.150
1.014
0.582
0.292
0.152
1.013
0.593
0.295
0.153
1.021
0.586
0.294
0.153
1.033
0.592
0.297
0.155
1.024
0.581
0.295
0.154
23
24
25
26
0.099
0.040
0.103
0.039
0.101
0.039
0.101
0.037
0.098
0.039
0.099
0.040
0.099
0.039
0.100
0.040
0.103
0.039
0.102
0.039
0.103
0.039
0.102
0.039
27
28
0.136
0.030
0.140
0.031
0.151
0.035
0.153
0.042
0.128
0.029
0.132
0.030
0.144
0.031
0.140
0.031
0.126
0.030
0.141
0.030
0.145
0.032
0.148
0.031
29
30
0.105
0.109
0.116
0.112
0.099
0.101
0.112
0.109
0.096
0.110
0.113
0.117
31
1. The current-dollar gross value added is deflated using the gross value added chain-type price index for
nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the
chain-type price index for GDP goods and structures is used.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product
of the chain-type quantity index and the 2009 current-dollar value of the corresponding series, divided by 100.
3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value
added and the consumption of fixed capital.
4. The deflator for gross value added of nonfinancial corporate business divided by 100.
NOTE. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
- 43 -
Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business—Table Ends
Seasonally adjusted at annual rates
Line
2012
I
II
2013
III
IV
I
II
2014
III
IV
Line
I
Billions of dollars
1
Gross value added of nonfinancial corporate business..................
2 Consumption of fixed capital .........................................................................
3 Net value added...........................................................................................
4 Compensation of employees.....................................................................
5
Wages and salaries ...............................................................................
6
Supplements to wages and salaries......................................................
7 Taxes on production and imports less subsidies .......................................
8 Net operating surplus ................................................................................
9
Net interest and miscellaneous payments.............................................
10
Business current transfer payments (net)..............................................
11
Corporate profits with inventory valuation and capital consumption
adjustments .......................................................................................
12
Taxes on corporate income................................................................
13
Profits after tax with inventory valuation and capital consumption
adjustments....................................................................................
14
Net dividends .................................................................................
15
Undistributed profits with inventory valuation and capital
consumption adjustments ..........................................................
Addenda:
16 Profits before tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
17 Profits after tax (without inventory valuation and capital consumption
adjustments)..........................................................................................
18 Inventory valuation adjustment..................................................................
19 Capital consumption adjustment ...............................................................
7,942.9
1,168.3
6,774.6
4,550.0
3,791.2
758.8
690.5
1,534.2
297.2
99.4
8,016.8
1,180.3
6,836.5
4,562.6
3,801.5
761.0
692.2
1,581.6
300.0
95.4
8,007.9
1,189.2
6,818.7
4,576.9
3,813.4
763.6
689.9
1,551.9
300.7
88.6
8,153.6
1,197.4
6,956.1
4,682.1
3,899.9
782.2
696.3
1,577.7
300.0
86.2
8,190.5
1,211.0
6,979.5
4,695.8
3,911.9
783.9
710.2
1,573.5
295.9
87.2
8,283.2
1,223.7
7,059.5
4,740.5
3,948.7
791.8
708.6
1,610.5
293.8
88.3
8,314.2
1,235.6
7,078.6
4,763.2
3,967.4
795.8
718.1
1,597.3
293.2
83.0
8,360.1
1,248.9
7,111.2
4,798.1
3,996.2
801.9
723.9
1,589.2
292.2
81.5
8,389.2
1,263.1
7,126.1
4,899.2
4,087.3
811.8
725.4
1,501.6
292.9
82.8
1
2
3
4
5
6
7
8
9
10
1,137.5
268.3
1,186.2
266.2
1,162.6
269.1
1,191.5
281.8
1,190.4
330.3
1,228.3
326.0
1,221.1
319.3
1,215.5
341.8
1,125.9
366.2
11
12
869.1
459.8
920.1
465.0
893.4
499.8
909.6
657.7
860.1
517.3
902.3
515.9
901.8
597.8
873.6
516.5
759.7
575.0
13
14
409.3
455.1
393.6
251.9
342.8
386.4
304.0
357.1
184.7
15
1,243.6
1,243.8
1,239.9
1,254.3
1,278.0
1,301.2
1,307.3
1,308.7
1,418.8
16
975.3
–32.3
977.6
11.3
970.8
–13.9
972.5
–3.1
947.7
–1.7
975.2
15.2
988.0
2.8
966.9
–3.0
1,052.6
–24.6
–73.9
–68.9
–63.5
–59.8
–85.9
–88.1
–89.1
–90.3
–268.4
17
18
19
Billions of chained (2009) dollars
20
Gross value added of nonfinancial corporate business 1 ...............
21 Consumption of fixed capital 2 ......................................................................
22 Net value added 3 .........................................................................................
7,703.4
1,133.6
7,749.5
1,139.9
7,706.4
1,146.3
7,811.3
1,153.4
7,842.3
1,161.6
7,929.7
1,169.7
7,936.8
1,177.6
7,979.7
1,186.2
7,996.7
1,194.6
6,569.9
6,609.6
6,560.1
6,657.9
6,680.7
6,760.0
6,759.2
6,793.6
6,802.1
20
21
22
Dollars; quarters seasonally adjusted
23
24
25
26
27
28
29
30
31
Price, costs, and profits per unit of real gross value added of
nonfinancial corporate business:
Price per unit of real gross value added of nonfinancial corporate
business 4 ............................................................................................
Compensation of employees (unit labor cost) ...........................................
Unit nonlabor cost .....................................................................................
Consumption of fixed capital .................................................................
Taxes on production and imports less subsidies plus business current
transfer payments (net)......................................................................
Net interest and miscellaneous payments.............................................
Corporate profits with inventory valuation and capital consumption
adjustments (unit profits from current production).................................
Taxes on corporate income ...................................................................
Profits after tax with inventory valuation and capital consumption
adjustments .......................................................................................
1.031
0.591
0.294
0.152
1.034
0.589
0.293
0.152
1.039
0.594
0.294
0.154
1.044
0.599
0.291
0.153
1.044
0.599
0.294
0.154
1.045
0.598
0.291
0.154
1.048
0.600
0.294
0.156
1.048
0.601
0.295
0.157
1.049
0.613
0.296
0.158
23
24
25
26
0.103
0.039
0.102
0.039
0.101
0.039
0.100
0.038
0.102
0.038
0.100
0.037
0.101
0.037
0.101
0.037
0.101
0.037
27
28
0.148
0.035
0.153
0.034
0.151
0.035
0.153
0.036
0.152
0.042
0.155
0.041
0.154
0.040
0.152
0.043
0.141
0.046
29
30
0.113
0.119
0.116
0.116
0.110
0.114
0.114
0.109
0.095
31
1. The current-dollar gross value added is deflated using the gross value added chain-type price
index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index
is not available, the chain-type price index for GDP goods and structures is used.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as
the product of the chain-type quantity index and the 2009 current-dollar value of the corresponding
series, divided by 100.
- 44 -
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 and Contributions to Percent Change
Seasonally adjusted at annual rates
Line
2010
2011
2012
2013
2010
IV
2011
I
II
2012
III
IV
I
II
2013
III
IV
I
II
2014
III
IV
Line
I
II
–2.1
–8.5
1.4
–3.8
3.3
–2.3
17.8
–2.2
2.9
4.0
10.5
0.4
8.0
18.5
3.6
7.7
3.9
0.8
1
2
3
4
5
6
7
8
9
3.6 –2.2
4.0
–3.2 –49.9 –21.3
4.7 –2.4
5.2
10
11
12
Percent change from preceding period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Gross domestic product (GDP) and
related aggregates:
GDP ......................................................
Goods ...................................................
Services ................................................
Structures .............................................
Motor vehicle output..............................
GDP excluding motor vehicle output.....
Final sales of computers 1 ....................
GDP excluding final sales of computers
Research and development ..................
GDP excluding research and
development......................................
Farm gross value added 2 .....................
Nonfarm business gross value added 3
Price indexes:
GDP ......................................................
GDP excluding food and energy 4.........
GDP excluding final sales of computers
Gross domestic purchases ...................
Gross domestic purchases excluding
food and energy 4..............................
Gross domestic purchases excluding
final sales of computers to domestic
purchasers ........................................
Personal consumption expenditures
(PCE) ................................................
PCE excluding food and energy 4 .........
Market-based PCE 5 .............................
Market-based PCE excluding food and
energy 5 ............................................
2.5
8.7
1.1
–7.8
30.2
2.0
–4.5
2.6
1.9
1.6
3.8
0.9
–1.2
10.0
1.4
9.0
1.6
0.2
2.3
4.5
0.8
7.0
12.9
2.1
11.9
2.3
0.9
2.2
4.2
1.2
2.9
4.8
2.1
12.9
2.2
0.9
2.5
5.2
1.5
0.5
–13.2
2.9
34.6
2.4
2.2
–1.5
–1.7
–0.1
–13.6
32.8
–2.2
9.0
–1.6
–3.0
2.9
5.7
1.1
9.1
–7.1
3.2
8.2
2.9
–1.6
0.8
–1.4
1.0
9.2
12.0
0.6
10.2
0.8
–0.1
4.6
15.7
–0.7
7.5
23.1
4.1
22.4
4.5
3.2
2.3
2.4
1.2
11.5
28.4
1.6
15.0
2.2
–1.1
1.6
2.7
0.8
4.2
6.1
1.5
–10.9
1.7
1.9
2.5
3.4
2.2
1.2
2.6
2.5
21.9
2.4
1.0
0.1
–0.9
0.3
2.2
–6.2
0.2
35.5
–0.1
3.8
2.7
7.6
1.3
–4.4
17.9
2.4
8.7
2.7
1.2
1.8
0.6
1.2
12.2
7.6
1.6
16.1
1.7
0.2
4.5
10.8
1.1
8.3
–10.6
5.0
–4.0
4.6
–2.9
3.5
8.1
1.8
–0.4
18.5
3.1
6.2
3.5
–0.8
2.5
1.5
3.2
1.6
–5.2
2.2
2.4
–5.7
3.2
2.3
14.3
2.6
2.6
–25.6
3.8
–1.5
19.1
–2.5
3.1
–31.5
4.5
0.9
–0.1
1.1
4.6
26.7
5.8
2.3
–11.0
3.3
1.6
0.1
2.3
2.5
–28.3
3.7
0.0
–14.1
0.1
2.8
82.6
2.4
1.8
14.1
2.0
4.7
28.3
5.6
1.2
1.4
1.3
1.5
2.1
1.9
2.1
2.4
1.8
1.7
1.8
1.7
1.5
1.6
1.5
1.3
2.1
1.7
2.1
2.3
1.8
2.1
1.8
3.0
3.0
2.8
3.0
3.8
2.3
1.9
2.4
1.9
0.6
0.9
0.6
0.9
2.1
2.6
2.1
2.3
1.8
1.4
1.9
1.1
2.1
1.3
2.1
1.2
1.3
1.6
1.4
1.7
1.3
1.7
1.4
1.2
1.2
1.3
1.3
0.8
1.7
1.9
1.7
1.7
1.5
1.8
1.5
1.4
1.3
1.2
1.3
1.4
2.0
1.8
2.0
1.9
13
14
15
16
1.3
1.8
1.7
1.4
1.4
2.0
2.8
1.8
1.0
2.4
1.4
1.2
1.5
1.5
1.2
1.5
1.7
1.3
1.7
17
1.6
2.5
1.8
1.3
2.3
3.1
3.9
2.0
1.0
2.4
1.1
1.3
1.8
1.3
0.8
1.7
1.5
1.4
1.9
18
1.7
1.3
1.5
2.5
1.5
2.5
1.8
1.8
1.8
1.2
1.3
1.1
2.1
0.8
2.1
3.0
1.4
3.2
4.1
2.5
4.2
2.1
2.0
2.2
1.4
1.6
1.4
2.1
2.1
2.1
1.3
1.9
1.2
1.3
1.2
1.3
1.8
1.4
1.5
1.0
1.4
1.0
0.5
1.0
0.1
1.7
1.4
1.7
1.0
1.3
0.7
1.4
1.2
1.2
2.3
2.0
2.3
19
20
21
1.0
1.4
1.8
1.2
0.6
1.3
2.4
2.1
1.6
2.1
1.8
1.3
1.0
1.5
0.7
1.4
1.0
1.0
1.9
22
3.5
–2.1
4.0
23
2.43 –2.69
1.10 0.86
–0.03 –0.29
0.47 0.09
0.03 0.07
–0.02 0.07
3.08
0.28
0.59
0.48
0.03
0.02
24
25
26
27
28
29
Contributions to percent change in real gross domestic product
23
24
25
26
27
28
29
Percent change at annual rate:
Gross domestic product.................
Percentage points at annual rates:
Goods .......................................................
Services....................................................
Structures .................................................
Motor vehicle output .................................
Final sales of computers...........................
Research and development......................
2.5
1.6
2.3
2.2
2.5
–1.5
2.9
0.8
4.6
2.3
1.6
2.5
0.1
2.7
1.8
4.5
2.43
0.71
–0.61
0.53
–0.02
0.05
1.11
0.57
–0.08
0.22
0.04
0.00
1.33
0.51
0.48
0.31
0.05
0.02
1.27
0.74
0.21
0.13
0.05
0.02
1.52
0.98
0.04
–0.32
0.12
0.06
–0.53
–0.03
–0.98
0.65
0.04
–0.07
1.65
0.71
0.59
–0.18
0.04
–0.04
–0.42
0.66
0.60
0.27
0.04
0.00
4.47
–0.40
0.51
0.52
0.08
0.08
0.76
0.73
0.77
0.66
0.06
–0.03
0.84
0.49
0.29
0.16
–0.05
0.05
1.03
1.37
0.09
0.07
0.08
0.03
–0.28
0.18
0.15
–0.17
0.12
0.10
2.23
0.83
–0.32
0.45
0.04
0.03
0.16
0.76
0.84
0.20
0.06
0.01
3.18
0.74
0.60
–0.31
–0.02
–0.08
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.
- 45 -
Explanatory Note: NIPA Measures of Quantities and Prices
Current-dollar GDP is a measure of the market value of goods, services, and structures produced in
the economy in a particular period. Changes in current-dollar GDP can be decomposed into quantity and
price components. Quantities, or "real" measures, and prices are expressed as index numbers with the
reference year -- at present, the year 2009 -- equal to 100.
Annual changes in quantities and prices are calculated using a Fisher formula that incorporates
weights from two adjacent years. (Quarterly changes in quantities and prices are calculated using a Fisher
formula that incorporates weights from two adjacent quarters; quarterly indexes are adjusted for
consistency to the annual indexes before percent changes are calculated.) For example, the 2008-09
annual percent change in real GDP uses prices for 2008 and 2009 as weights, and the 2008-09 annual
percent change in GDP prices uses quantities for 2008 and 2009 as weights. These annual changes are
"chained" (multiplied) together to form time series of quantity and price indexes. Percent changes in
Fisher indexes are not affected by the choice of reference year. (BEA also publishes a measure of the price
level known as the implicit price deflator (IPD), which is calculated as the ratio of the current-dollar value
to the corresponding chained-dollar value, multiplied by 100. The values of the IPD are very close to the
values of the corresponding "chain-type" price index.)
Index numbers of quantity and price indexes for GDP and its major components are presented in
this release in tables 5 and 6. Percent changes from the preceding period are presented in tables 1, 4, 7, 8,
and appendix table A. Contributions by major components to the percent change in real GDP are
presented in table 2.
Measures of real GDP and its major components are also presented in dollar-denominated form,
designated "chained (2009) dollar estimates." For most series, these estimates, which are presented in
table 3, are computed by multiplying the current-dollar value in 2009 by a corresponding quantity index
number and then dividing by 100. For example, if a current-dollar GDP component equaled $100 in 2009
and if real output for this component increased 10 percent in 2010, then the chained (2009) dollar value of
this component in 2010 would be $110 (= $100 x 110 / 100). Percent changes calculated from
chained-dollar estimates and from chain-type quantity indexes are the same; any differences will be small
and due to rounding.
Chained-dollar values for the detailed GDP components will not necessarily sum to the chained-dollar
estimate of GDP (or to any intermediate aggregate). This is because the relative prices used as weights for
any period other than the reference year differ from those of the reference year. A measure of the extent of
such differences is provided by a “residual” line, which indicates the difference between GDP (or other
major aggregate) and the sum of the most detailed components in the table. For periods close to the
reference year, when there usually has not been much change in the relative prices that are used as weights,
the residuals tend to be small, and the chained-dollar estimates can be used to approximate the
contributions to growth and to aggregate the detailed estimates. For periods further from the reference
year, the residuals tend to be larger, and the chained-dollar estimates are less useful for analyses of
contributions to growth. Thus, the contributions to percent change shown in table 2 provide a better
measure of the composition of GDP growth. In particular, for components for which relative prices are
changing rapidly, calculation of contributions using chained-dollar estimates may be misleading even just a
few years from the reference year.
Reference "Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes," November 2003
Survey, pp. 8-16.
- 46 -