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APRIL 2 0 0 0 < ^ VOLUME 80 NUMBER 4 SURVEY of CURRENT BUSINESS IN THIS ISSUE . . . Improved NIPA Estimates for 1929-99 Fixed Assets and Consumer Durable Goods, 1925-98 U.S. DEPARTMENT OF COMMERCE ^ ECONOMICS AND STATISTICS ADMINISTRATION BUREAU OF ECONOMIC ANALYSIS APRIL 2000 VOLUME 80 NUMBER A SURVEY of CURRENT BUSINESS The SURVEY OF CURRKNT BUSINESS (ISSN 0039-6222) is published monthly by the Bureau of Economic Analysis of the U.S. Department of Commerce. Editorial correspondence should be addressed U.S. Department of Commerce William M. Daley, Secretary Economics and Statistics Administration Robert J. Shapiro, Under Secretary for Economic Affairs to the Editor-in-Chief, SURVEY or CUR- RENT BUSINESS, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. Subscriptions to the SURVEY OF CURRENT BUSINESS are maintained, and their prices set, by the Government Printing Office, an agency of the U.S. Congress. Send address changes to Superintendent of Documents U.S. Government Printing Office Washington, DC 20402 To subscribe, call 202-512-1800. To inquire about your subscription, call 202512-1806. Subscription and single-copy prices: Periodicals: $48.00 domestic $60.00 foreign First-class mail: $120.00 Single copy: $17.25 domestic $21.56 foreign Make checks payable to the Superintendent of Documents. Periodicals postage paid at Washington, DC and at additional mailing offices (USPS 337-790). The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department. Bureau of Economic Analysis J. Steven Landefeld, Director Rosemary D. Marcuss, Deputy Director Barbara M. Fraumeni, Chief Economist Hugh W. Knox, Associate Director for Regional Economics Ralph Kozlow, Associate Director for International Economics Brent R. Moulton, Associate Director for National Income, Expenditure, and Wealth Accounts Sumiye O. Okubo, Associate Director for Industry Accounts Robert P. Parker, Chief Statistician Douglas R. Fox, Editor-in-Chief W. Ronnie Foster, Graphic Designer M. Gretchen Gibson, Manuscript Editor Ernestine T. Gladden, Production Editor Laura A. Oppel, Production Editor THIS ISSUE of the SURVEY went to the printer on April 19, 2000. It incorporates data from the following monthly BEA news releases: U.S. International Trade in Goods and Services (March 21), Gross Domestic Product (March 30), and Personal Income and Outlays (March 31). April 2000 SURVEY OF CURRENT BUSINESS TABLE OF CONTENTS imperial in this issue 11 Improved Estimates of the National Income and Product Accounts for 1929-99: Results of the Comprehensive Revision On March 30, 2000, as part of the comprehensive revision of the NIPA's, BEA released revised NIPA estimates for 1929-58 that incorporated the definitional and statistical changes that had been incorporated earlier into the estimates beginning with 1959. In addition, BEA released revised estimates beginning with 1959 that incorporated corrections and a previously announced methodological improvement. The revisions were not sizable enough to affect the average annual growth rate in real GDP for 1929-58 or for 1959-98, but the growth rates for individual years were revised by as much as 0.5 percentage point. 17 Fixed Assets and Consumer Durable Goods: Estimates for 1925-98 and New NIPA Table—Changes in Net Stock of Produced Assets As part of the comprehensive revision of the NIPA's, BEA has released new estimates of fixed assets and consumer durable goods (formerly "fixed reproducible tangible wealth") for 1998 and revised estimates for 1925-97. These estimates incorporate a number of definitional and statistical improvements, including the recognition of business and government expenditures for software as fixed investment and a new pattern of depreciation for personal computers. For 1925-98, the net stock at current cost grew at an average annual rate of 6.3 percent, and the net stock at real cost grew at a rate of 2.9 percent. In addition, as part of a long-term effort to integrate the estimates of stocks and flows, BEA has introduced a new NIPA table that shows the changes in the net stock ofproduced assets. l\egularfeeatures I Business Situation Real GDP increased 7.3 percent in the fourth quarter of 1999, according to the "final" estimate; the "preliminary" estimate released last month had shown a 6.9-percent increase. Corporate profits increased $35.3 billion (4.0 percent at a quarterly rate) in the fourth quarter. The Federal Government current surplus decreased $21.6 billion, to $112.2 billion, and the State and local government current surplus increased $19.9 billion, to $68.8 billion. — Continued on next page — U SURVEY OF CURRENT BUSINESS 146 U.S. International Transactions, Fourth Quarter and Year 1999 In the fourth quarter of 1999, the U.S. current-account deficit increased $10.7 billion, to $99.8 billion; the deficit on goods and services, the deficit on income, and net unilateral current transfers all contributed to the increase. In the financial account, net recorded inflows decreased $3.4 billion, to $90.9 billion; financial inflows decreased more than financial outflows. In the year 1999, the U.S. current-account deficit increased $118.3 billion, to $338.9 billion; the increase was mostly accounted for by a sharp rise in the deficit on goods and services. In the financial account, net recorded inflows increased $168.4 billion, to $378.2 billion; financial inflows accelerated much more than financial outflows. l\gports and statistical presentations 9 Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade 32 National Income and Product Accounts 36 National Income and Product Accounts Tables 126 GDP and Other Major NIPA Series, 1929-99 D-l BEA Current and Historical Data Inside back cover: Getting BEA's Estimates Back cover: Schedule of Upcoming BEA News Releases LOOKING AHEAD r Gross Product by Industry. Revised estimates of gross product by industry for 1947-97 and new estimates for 1998 will be published in a forthcoming issue of the SURVEY. The revised estimates will incorporate the results of the recent comprehensive NIPA revision and several additional methodological and statistical improvements. Updated Satellite Accounts. Updates of two BEA satellite accounts are scheduled to be published in forthcoming issues of the SURVEY: U.S. Transportation Satellite Accounts for 1996 and U.S. Travel and Tourism Satellite Accounts for 1992-97. April 2000 SURVEY OF CURRENT BUSINESS April 2000 Ralph W. Morris prepared the first section of this article, Daniel Larkins prepared the section on corporate profits, and Mary L. Roy prepared the section on the government sector. B U S I N E S S S I T U A T I O N (Ty EAL gross domestic product (GDP) -t\jncreased 7.3 percent in the fourth quarter of 1999, according to the "final" estimates of the national income and product accounts (NIPA's), after increasing 5.7 percent in the third quarter (table 1 and chart I). 1 (NIPA estimates beginning with the first quarter of 1959 have been revised; see "Improved Estimates of the National Income and Product Accounts for 1929-99: Results of the Comprehensive Revision" in this issue.) The "final" estimate of the change in real GDP is 0.4 percentage point more than the 6.9-percent increase indicated by the "preliminary" estimate reported in the March "Business Situation" (table 2). The revision is slightly larger than the average revision—0.3 percentage point, without regard to sign—from the preliminary estimate to the final estimate for 1978-99. However, the general picture of the economy that is indicated by the final estimates is little changed from that shown by the preliminary estimates. The 7.3-percent increase was the largest increase since the first quarter of 1984 and was well above the 3.6-percent average annual growth rate for real GDP over the current expansion, which began in the second quarter of 1991. The largest contributors to the fourth-quarter increase in real GDP were consumer spending, government spending, private inventory investment, and exports of goods and services (table 3). The increase in GDP was moderated by an increase in imports of goods and services, which are subtracted in the calculation of GDP. 1. Quarterly estimates in the NIPA's are expressed at seasonally adjusted annual rates. Quarter-to-quarter dollar changes are the differences between the published estimates. Quarter-to-quarter percent changes are annualized and are calculated from unrounded data unless otherwise specified. Real estimates are calculated using a chain-type Fisher formula with annual weights for all years and quarterly weights for all quarters; real estimates are expressed both as index numbers (1996=100) and as chained (1996) dollars. Price indexes (1996=100) are also calculated using a chain-type Fisher formula. Table 1.—Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers [Seasonally adjusted at annual rates] Billions of chained (1996) dollars Level Change from preceding quarter 1999 1999 Percent change from preceding quarter 1999 I IV I Gross domestic product 9,037.2 78.1 Less: Exports of goods and services Plus: Imports of goods and services 1,078.2 -14.4 1,422.3 37.8 10.0 44.5 Equals: Gross domestic purchases 9,358.6 125.1 Less: Change in private inventories Nonfarm Farm Equals: Final sales to domestic purchasers Personal consumption expenditures Durable goods Nondurable goods Services Private fixed investment , Nonresidential Structures Equipment and software Residential Government consumption expenditures and gross investment Federal National defense Nondefense State and local Addendum: Final sales of domestic product II III II III IV IV 40.7 121.5 157.4 3.7 1.9 5.7 7.3 28.3 47.6 25.6 29.3 -5.5 12.5 4.0 14.4 11.5 14.9 10.1 8.7 70.7 138.3 160.8 5.8 3.2 6.2 7.2 66.7 -20.6 -36.1 72.3 -15.1 -30.0 -6.7 -5.4 -6.5 24.0 28.1 -4.7 28.7 31.1 -2.9 9,286.0 143.5 102.8 114.1 132.9 Percent 10 6.7 4.7 5.1 5.9 6,102.9 846.7 1,812.0 3,454.7 1,617.8 1,243.2 245.8 1,006.4 376.8 92.0 22.8 36.9 33.9 33.4 21.9 -3.8 27.2 11.1 73.2 17.3 14.2 42.5 25.1 20.2 -3.4 25.2 5.1 71.2 15.1 15.6 41.1 26.3 31.4 -2.4 35.7 -3.7 87.2 25.5 32.7 31.3 10.5 8.9 -.3 9.8 1.7 6.5 12.4 8.9 4.2 9.1 7.8 -5.8 12.5 12.9 5.1 9.1 3.3 5.2 6.6 7.0 -5.3 11.2 5.5 4.9 7.7 3.6 5.0 6.8 10.9 -3.8 15.7 -3.8 5.9 13.0 7.6 3.7 2.6 2.9 -.5 4.0 1.8 1,569.6 558.3 362.4 195.9 1,011.1 18.7 -.7 -3.5 2.8 19.2 4.9 2.9 -2.2 5.0 2.2 17.0 5.4 9.1 -3.6 11.5 34.3 18.8 14.1 4.8 15.6 5.1 -.5 ^t.O 6.1 8.2 1.3 2.1 -2.6 10.9 .9 4.5 4.1 11.2 -7.1 4.8 9.3 14.7 17.2 10.3 6.4 8,964.6 96.3 72.5 97.5 129.6 4.6 3.4 4.5 6.0 REAL GROSS DOMESTIC PRODUCT l.IIIll llll.l 10 REAL GROSS NATIONAL PRODUCT On a Command-Basis I LiiinUiJl 1996 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates usually are not additive. Chained (1996) dollar levels and residuals, which measure the extent of nonadditivity in each table, are shown in NIPA tables 1 2 , 1.4, and 1.6, Percent changes are calculated from unrounded data. Percent changes in major aggregates are shown in NIPA table S.1. (See "National Income and Product Accounts Tabtes" in this issue.) Selected Product Measures: Change from Preceding Quarter 1997 1998 Note-Percent change at annual rate from preceding quarter; based on seasonally adjusted estimates. U.S. Department ot Commerce, Bureau of Economic Analysis 1999 April 2000 SURVEY OF CURRENT BUSINESS The acceleration in real GDP was primarily accounted for by accelerations in government spending and consumer spending and by a deceleration in imports of goods. These changes were partly offset by decelerations in private nonresidential fixed investment and in exports of goods. The upward revision to real GDP primarily reflected a downward revision to imports of services and upward revisions to private nonresidential structures and to exports of services. In imports of services, the downward revision was Table 2.—Revisions to Change in Real Gross Domestic Product and Prices, Fourth Quarter 1999 [Seasonally adjusted at annual rates] Percent change from preceding quarter Preliminary estimate Final estimate Final estimate of change minus preliminary estimate of change Percentage points Billions of chained (1996) dollars 6.9 7.3 0.4 7.1 Less: Exports of goods and services Goods Services 8.7 10.5 4.5 10.1 11.1 7.6 1.4 .6 3.1 3.4 1.1 2.1 Plus: Imports of goods and services Goods Services 10.0 9.3 13.9 8.7 9.7 3.4 -1.3 .4 -10.5 -4.4 1.2 -5.1 7.2 7.2 Gross domestic product Equals: Gross domestic purchases , -2.0 -.3 -1.7 Less: Change in private inventories Farm Nonfarm ; 2. Gross domestic purchases—a measure of purchases by U.S. residents regardless of where the purchased goods and services were produced—is calculated as the sum 01 personal consumption expenditures, gross private domestic investment, and government consumption expenditures and gross investment. 3. Final sales of domestic product is calculated as GDP less change in private inventories. Table 3.—Contributions to Percent Change in Real Gross Domestic Product [Seasonally adjusted at annual rates] 2.2 5.8 5.9 Personal consumption expenditures Durable goods Nondurable goods Services 5.9 13.0 7.2 3.8 5.9 13.0 7.6 3.7 Private fixed investment Nonresidential Structures Equipment and software . Residential 2.1 2.5 -4.3 4.7 1.0 2.6 2.9 -.5 4.0 1.8 .5 .4 3.8 -.7 Government consumption expenditures and gross investment . Federal National defense Nondefense State and local 9.2 14.2 16.7 9.9 6.6 9.3 14.7 17.2 10.3 6.4 .1 .5 .5 .4 -.2 5.6 2.3 2.0 6.0 2.3 2.0 Equals-. Final sales to domestic purchasers largely to "other" private services and to direct defense expenditures, reflecting the incorporation of revised data from the BEA'S international transactions accounts (ITA's). In private nonresidential structures, the upward revision was primarily to mining exploration, shafts, and wells, reflecting the incorporation of revised Department of Energy data on petroleum footage drilled. In exports of services, the downward revision was widespread, reflecting revised data from the ITA's. Real gross domestic purchases increased 7.2 percent, 0.1 percentage point more than the preliminary estimate; in the third quarter, this measure increased 6.2 percent.2 Real final sales of domestic product increased 6.0 percent, 0.4 percentage point more than the preliminary estimate; in the third quarter, this measure increased 4.5 percent.3 The price index for gross domestic purchases increased 2.-3 percent, the same as the preliminary estimate; in the third quarter, the index 1999 Addenda: Final sales of domestic product Gross domestic purchases price index GDP price index 0 0 .4 -.1 .2 .1 1.4 -1.1 2.0 1.2 2.4 -1.6 .7 0 .6 .4 .2 -.5 9.1 NOTE—The final estimates for the fourth quarter of 1999 incorporate the following revised or additional major source data that were not available when the preliminary estimates were prepared. Personal consumption expenditures: Revised retail sales for December. Nonresidential fixed investment: Revised construction put in place for November and December, revised manufacturers' shipments of machinery and equipment for December, and revised petroleum drilling footage for the quarter. Residential fixed investment: Revised construction put in place for November and December, revised housing starts for December, and revised sales of new homes for October through December. Change in private inventories: Revised manufacturing and trade inventories for December. Exports and imports of goods and services: Revised data on exports and imports of goods for December and revised international transactions accounts data on exports and imports of services for the quarter. Government consumption expenditures and gross investment: Revised State and local construction put in place for November and December. Wages and salaries: Revised employment, average hourly earnings, and average weekly hours for December. GDP prices: Revised export and import prices for October through December, revised unit-value index for petroleum imports for December, and revised prices of single-family homes under construction for the quarter. Percent change at annual rate: Gross domestic product Percentage points at annual rates: Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment and software Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal Nondefense ., State and local , 3.7 1.9 5.7 7.3 4.28 .96 1.69 1.63 .64 1.49 .95 -.18 1.13 .54 -.85 -2.13 -.61 -.74 .13 -1.53 -1.28 -.24 3.36 .71 1.10 .86 -.16 1.02 .24 -1.46 -1.35 .42 .32 .10 -1.77 -1.59 -.19 3.33 .62 .73 1.98 2.26 1.16 1.33 -.11 1.44 -.17 1.09 -.73 1.19 1.19 0 -1.92 -1.84 -.08 4.07 1.03 1.51 1.53 1.72 .48 .39 -.01 .40 .09 1.24 -.12 1.08 .83 .24 -1.20 -1.12 -.08 -.03 -.16 .13 .91 .23 .13 -.10 .23 .10 .81 .26 .42 -.16 .55 1.61 .87 .65 .22 .75 .64 2.00 -.36 NOTE-More detailed contributions to percent change in real gross domestic product are shown in NIPA table 8.2. Contributions to percent change in major components of real gross domestic product are shown in tables 8.3 through 8.6. April 2000 SURVEY OF CURRENT BUSINESS cent—reflecting a deterioration in the terms of trade.5 In the third quarter, real GNP on a command basis also increased less than real GNP—5.0 percent, compared with 5.6 percent. The national saving rate—gross saving as a percentage of GNP—was 18.3 percent in the fourth quarter, down slightly from 18.4 percent in the third quarter; the rate remained higher than the average rate over the current expansion. increased 1.7 percent. The price index for GDP increased 2.0 percent, also the same as the preliminary estimate; in the third quarter, the index increased 1.1 percent. Real disposable personal income (DPI) increased 4.7 percent in the fourth quarter, 0.2 percentage point more than the preliminary estimate; in the third quarter, real DPI increased 2.9 percent. The upward revision to the fourth-quarter estimate was primarily accounted for by an upward revision to personal income. The upward revision to personal income was largely to personal interest income and reflected newly available and revised flow-of-funds data from the Federal Reserve Board. The personal saving rate—personal saving as a percentage of current-dollar DPI—was 1.8 percent, the same as the preliminary estimate; in the third quarter, the rate was 2.1 percent. Gross national product (GNP).—In the fourth quarter, real GNP—goods and services produced by labor and property supplied by U.S. residents—increased 6.4 percent, 0.9 percentage point less than real GDP (table 4).4 Income receipts from the rest of the world increased much less than income payments to the rest of the world; interest income accounted for about twothirds of the increase in receipts and accounted for more than one-half of the increase in payments. Real GNP on a command basis, which measures the purchasing power of goods and services produced by the U.S. economy, increased less than real GNP—6.1 percent, compared with 6.4 per- Corporate Profits Profits from current production increased $35.3 billion (or 4.0 percent at a quarterly rate) in the fourth quarter of 1999 after increasing $3.6 billion (0.4 percent) in the third (table 5).6 These estimates reflect payments by tobacco companies related to out-of-court settlements, which reduced fourth-quarter profits by $11.2 billion and third-quarter profits by $1.0 billion; profits in the third quarter had also been reduced by about 5. In the estimates of command-basis GNP, the current-dollar value of the sum of exports of goods and services and income receipts is deflated by the implicit price deflator (IPD) for the sum of imports of goods and services and income payments. that are paid by U.S. pur< sured by the following ratio, with the decimal point shifted two places to the right: In the numerator, the IPD for the sum of exports of goods and services and of income receipts; in the denominator, the IPD for the sum of imports of goods and services and of income payments. Changes in the terms of trade reflect the interaction of several factors, including movements in exchange rates, changes in the composition of the traded goods and services, and changes in producers' profit margins. For example, if the U.S. dollar depreciates against a foreign currency, a foreign manufacturer may choose to absorb this cost by reducing the profit margin on the product it sells to the United States, or it may choose to raise the price of the product and risk a loss in market share. 6. Profits from current production is estimated as the sum of profits before tax, the inventory valuation adjustment, and the capital consumption adjustment; it is shown in NIPA tables 1.9,1.14,1.16, and 6.16C (see "National Income and Product Accounts Tables" in this issue) as corporate profits with inventory valuation and capital consumption adjustments^ Percent changes in profits are shown at quarterly, not annual, rates. 4. GNP equals GDP plus income receipts from the rest of the world less income payments to the rest of the world. Table 4.—Relation of Real Gross Domestic Product, Real Gross National Product, and Real Command-Basis Gross National Product [Seasonally adjusted at annual rates] Billions of chained (1996) dollars Percent change from preceding * Level Change from preceding quarter 1999 1999 1QQQ I II III IV I II III IV 9,037.2 78.1 40.7 121.5 157.4 3.7 1.9 5.7 7.3 308.2 340.1 2.0 -.6 10.6 10.3 9.9 10.6 11.7 30.7 3.0 -.9 16.3 15.1 14.5 15.0 16.7 45.8 Equals: Gross national product 9,005.2 80.7 40.9 120.8 138.4 3.8 1.9 5.6 6.4 Less: Exports of goods and services and income receipts from the rest of the world 21.1 38.4 37.5 -3.6 6.7 12.2 11.6 9.6 IV Gross domestic product Plus: Income receipts from the rest of the world Less: Income payments to the rest of the world 1,386.9 -12.0 Plus: Command-basis exports of goods and services and income receipts from the rest of the world l 1,421.6 -5.8 10.2 26.4 32.1 -1.7 3.0 8.0 Equals: Command-basis gross national product 9,040.0 87.0 30.0 108.9 133.0 4.1 1.4 5.0 6.1 102.5 .5 -.9 -1.0 -.5 1.9 -3.4 -3.8 -1.9 Addendum: Terms of trade 2 1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and services and income payments. . . 2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit price deflator for imports divided by 100. NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Levels of these in NIPA tables 1.10 and 1.11. s e r j e s a r e Sh0Wn April 2000 SURVEY OF CURRENT BUSINESS $10 billion, reflecting benefits paid by insurance companies and uninsured corporate losses associated with Hurricane Floyd. In the fourth quarter, increases in the profits of domestic nonfinancial corporations and of domestic financial corporations more than offset a decrease in profits from the rest of the world. Profits of domestic nonfinancial corporations increased $26.3 billion (4.4 percent) after decreasing $5.5 billion (0.9 percent). Unit profits of domestic nonfinancial corporations increased, reflecting an increase in unit prices and a decrease in unit costs. Profits of domestic financial corporations increased $19.5 billion (10.7 percent) after increasing $4.4 billion (2.5 percent). Profits from the rest of the world decreased $10.6 billion (9.8 percent) after increasing $4.8 billion (4.6 percent); the decrease was more than accounted for by payments of earnings by U.S. affiliates of foreign corporations.7 7. Profits from the rest of the world is calculated as (1) receipts by U.S. residents of earnings from their foreign affiliates plus dividends received by U.S. residents from unaffiliated foreign corporations minus (2) payments by U.S. affiliates of earnings to their foreign parents plus dividends paid by U.S. corporations to unaffiliated foreign residents. These estimates include capital consumption adjustments (but not inventory valuation adjustments) and are derived from BEA's international transactions accounts. Cash flow from current production, a profits-related measure of internally generated funds available for investment, increased $20.9 billion after increasing $12.3 billion.8 The ratio of cash flow to nonresidential fixed investment, an indicator of the share of the current level of investment that could be financed by internally generated funds, increased to 79.8 percent from 78.6 percent (its lowest value since the third quarter of 1990). During 1991-98, the ratio fluctuated between 78.8 percent and 94.0 percent; it averaged 85.7 percent. Domestic industry profits and related measures.— Domestic industry profits increased $44.9 billion after increasing $0.1 billion.9 Profits of domestic nonfinancial corporations increased $23.9 billion after decreasing $5.5 billion. The upturn reflected upturns in retail and wholesale trade profits, step8. Cash flow from current production is undistributed profits with inventory valuation and capital consumption adjustments plus the consumption of fixed capital. 9. Domestic industry profits are estimated as the sum of corporate profits before tax and the inventory valuation adjustment; they are shown in NIPA table 6.16C. Estimates of the capital consumption adjustment do not exist at a detailed industry level; they are available only for total financial and total nonfinancial industries. (See, however, the methodology used to develop industrylevel estimates of the capital consumption adjustment for foreign-owned U.S. companies described in Raymond J. Mataloni, Jr., "An Examination of the Low Rates of Return of Foreign-Owned U.S. Companies," SURVEY OF CURRENT BUSI- NESS 80 (March 2000):55-73.) Table 5.—Corporate Profits [Quarterly estimates seasonally adjusted] Percent change from preceding period l Billions of dollars (annual rate) 1999 892.7 789.4 186.6 602.8 103.3 166.2 62.8 919.4 821.9 201.5 620.3 97.5 174.0 76.5 -13.0 57.2 848.5 259.4 589.1 Cash flow from current production Domestic industry profits: CorDorate Drofits of domestic industries with IVA Financial Nonfinancial . Manufacturing Transportation and public utilities Wholesale trade Retail t r a d e . . . . . . Other . . . IVA CCAdj Profits before tax Profits tax liability Profits after tax 2.6 8.7 2.5 -5.5 4.8 5.4 .6 35.3 45.9 19.5 26.3 -10.6 4.5 15.1 2.4 -7.5 -7.1 -6.3 4.5 3.3 11.9 29.9 -.9 4.6 3.3 1.0 4.0 5.9 10.7 4.4 -9.8 2.7 24.6 -33.9 11.6 66.6 19.2 47.4 -13.1 -1.2 18.0 5.0 12.9 1.8 1.0 32.5 16.3 16.3 -1.8 .8 -2.9 8.5 2.1 3.8 8.0 8.8 2.0 2.2 6.3 2.7 31.2 53.2 12.3 20.9 3.7 6.1 1.3 2.2 7.7 7.1 .6 -17.2 4.3 .4 6.1 7.0 29.4 16.8 12.7 -2.8 7.3 -4.8 3.1 10.0 .1 5.6 -5.5 -4.7 9.4 -5.2 -7.7 2.7 44.9 21.0 23.9 -2.8 10.7 3.7 4.9 7.4 1.1 3.8 .1 -9.3 4.0 1.0 9.5 6.3 4.2 8.8 2.5 -1.7 6.7 -10.2 4.5 8.5 0 2.8 -1.1 -2.8 8.8 -11.9 -10.2 2.2 6.2 10.3 4.6 -1.7 9.1 9.5 7.2 5.7 0006 .006 .002 -.002 0000 .000 .003 -.003 0002 -.002 .001 .003 3.6 -1.1 13.6 -B.1 -11.3 -3.2 44.3 41.0 14.9 26.1 3.3 17.8 14.4 -24.9 58.0 886.3 275.7 610.6 13.5 10.3 -14.0 1.9 -15.9 929.7 949.9 732.2 208.1 524.2 165.6 116.3 42.4 72.9 127.1 763.9 224.9 539.0 160.3 128.0 42.8 72.6 135.3 1012 .658 .234 .120 1014 .657 .236 .121 1. Quarterly percent changes are not annualized. NOTE.-Levels of these and other profits series are shown in NIPA tables 1.14, 1.16, 6.16C, and 7.15. IV III IV III 9.9 18.0 4.4 4.4 Dollars Unit price, costs, and profits of nonfinancial corporations: Unit price . . Unit labor cost Unit nonlabor cost Unit profits from current production 1999 1999 IV Domestic industries Financial Nonfinancial Rest of the world Receipts (inflows) Payments (outflows) 1998 1999 1998 1999 Profits from current oroduction 1999 Change from preceding period Level 0 000 .008 -.003 -.005 IVA Inventory valuation adjustment CCAdj Capital consumption adjustment 1.2 2.5 5.2 5.5 0.4 -.1 April 2000 SURVEY OF CURRENT BUSINESS ups in profits of "other" nonfinancial corporations and of the transportation and public utilities group, and a smaller decrease in manufacturing profits. Profits of domestic financial corporations increased $21.0 billion after increasing $5.6 billion. Profits before tax (PBT) increased $32.5 billion after increasing $18.0 billion. The small difference between the fourth-quarter increase in PBT and the increase in profits from current production reflected small increases in the inventory valuation adjustment and the capital consumption adjustment.10 The year 1999.—For the year 1999, profits from current production increased $44.3 billion (or 5.2 percent), to $892.7 billion; in 1998, the increase was $9.9 billion (1.2 percent).11 Profits of domestic corporations increased more than in 1998, and profits from the rest of the world turned up. Profits of nonfinancial domestic corporations increased $26.1 billion after increasing $13.6 billion; profits per unit decreased less than in 1998, and real gross product of nonfinancial corporations stepped up. Profits of domestic financial corporations increased $14.9 billion after increasing $4.4 billion. Profits from the rest of the world increased $3.3 billion after decreasing $8.1 billion, as receipts turned up more sharply than payments. Domestic industry profits increased $29.4 billion after increasing $7.7 billion, as profits of domestic nonfinancial corporations and domestic financial corporations stepped up. In nonfinancial corporations, profits of manufacturing corporations decreased much less than in 1998, and profits of the transportation and public utilities group and of "other" nonfinancial corporations increased more than in 1998. Profits before tax increased $66.6 billion in 1999 after decreasing $14.0 billion in 1998. The difference between the increase in PBT and the smaller increase in profits from current production reflected a decrease in the inventory valuation adjustment that was only partly offset by an increase in the capital consumption adjustment. 10. As prices change, companies that value inventory withdrawals at original acquisition (historical) costs may realize inventory profits or losses. Inventory profits—a capital-gains-Hke element in profits—result from an increase in inventory prices, and inventory losses—a capital-loss-like element in profits— result from a decrease in inventory prices. In the NIPA's, inventory profits or losses are removed from business incomes by the inventory valuation adjustment (IVA); a negative IVA removes inventory profits, and a positive IVA removes inventory losses. The capital consumption adjustment converts depreciation valued at historical cost and based on service lives and depreciation patterns specified in the tax code to depreciation valued at replacement cost and based on empirical evidence on the prices of used equipment and structures in resale markets. For more information on depreciation in the NIPA's, see "Fixed Assets and Consumer Durable Goods: Revised Estimates for 1925-98," in this issue. 11. Changes for 1998 and 1999 are calculated from annual levels for 1997, 1998, and 1999. Government Sector The combined current surplus of the Federal Government and of State and local governments—the NIPA measure of net saving by government—decreased $1.8 billion, to $180.9 billion, in the fourth quarter after increasing $27.0 billion in the third (table 6).12 The 12. Net saving equals gross saving less consumption of fixed capital (CFC); the estimates of gross saving, CFC, and net saving are shown in NIPA table 5.1. For NIPA estimates of government current receipts, current expenditures, and the current surplus or deficit for 1998 and 1999, see NIPA tables 3.1, 3.2, and 3.3 in this issue. These tables also present "net lending or borrowing," which is conceptually similar to "net financial investment" in the flow-of-funds accounts prepared by the Board of Governors of the Federal Reserve System. The two measures diner primarily because government net lending or borrowing is estimated from data for transactions, whereas net financial investment is estimated from data for financial assets. There are also small conceptual differences, such as the classification of the Federal Government's railroad retirement and veterans life insurance programs. Table 6.—Government Sector Current Receipts and Expenditures [Billions of dollars, seasonally adjusted at annual rates] Change from preceding quarter Level Current receipts Current expenditures Current surplus or deficit (-) Social insurance funds Other Federal Government Current receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Current expenditures Consumption expenditures National defense Nondefense Transfer payments (net) To persons To the rest of the world Grants-in-aid to State and local governments Net interest paid Subsidies less current surplus of government enterprises Subsidies Of which: Agricultural subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-) Social insurance funds Other 1999 1998 IV IV I 2872.6 2691.7 44.9 40.4 36.4 180.9 4.4 81.9 99.0 7.4 -5.0 1922.3 1999 II III IV 37.8 28.4 46.1 19.1 72.1 73.9 32.4 9.4 27.0 -1.8 5.7 3.3 2.2 26.7 3.7 5.7 23.7 -4.0 23.0 33.2 26.6 30.0 39.2 922.7 236.7 105.0 657.9 20.8 -7.3 9.8 14.2 15.9 10.0 13.4 5.5 .5 6.4 4.3 1.5 8.3 14.7 14.3 1.9 7.7 1810.2 22.8 -4.6 6.1 14.3 60.9 491.9 325.5 166.5 770.1 752.4 17.7 235.6 260.6 51.8 57.0 35.3 8.6 .9 7.5 7.0 -1.8 -3.8 9.8 16.9 13.4 -8.3 -10.3 -6.4 -8.0 5.2 0 -.3 0 1.8 0 7.3 .1 0 112.2 .1 37.9 80.9 31.3 7.7 5.9 -7.6 1185.9 261.1 39.1 638.6 11.5 235.6 -6.0 0 5.7 -4.2 1117.1 11.5 14.3 882.4 247.8 0 8.4 2.8 .4 0 0 0 .1 0 68.8 1.0 4.0 -.1 11.1 1.2 5.9 1.3 1.6 9.6 13.1 -11.9 -3.0 -6.3 14.4 14.1 14.6 5.7 2.0 6.3 3.9 2.4 11.3 -1.5 5.1 5.9 -.7 3.5 6.7 3.6 15.3 6.0 9.2 5.0 .7 14.9 -4.9 -10.5 -10.3 -10.1 22.8 22.9 22.5 .2 0 .1 0 20.5 15.7 -21.6 3.4 3.3 2.0 32.0 17.1 12.4 -23.6 15.8 8.9 7.0 31.0 37.9 3.9 2.0 -1.3 19.2 2.3 .4 1.0 9.7 .2 5.1 .6 8.7 2.1 10.0 21.8 .3 14.9 .3 5.0 18.2 19.7 18.0 10.2 16.0 18.1 15.9 3.4 .8 0 0 0 0 0 1.7 .3 0 0 0 0 0 1.7 .1 -.1 .1 0 2.5 0 0 -.5 0 .5 0 4.3 -5.5 -11.1 11.3 19.9 -.2 4.5 -.1 .2 -5.2 -11.4 -4.2 -1.2 6.9 6.9 State and local governments Current receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Federal grants-in-aid Current expenditures Consumption expenditures Transfer payments to persons Net interest paid Less: Dividends received by government Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-) Social insurance funds Other ... -.6 .3 -12.2 .5 12.7 67.7 0 -1.1 0 0 0 11.3 .2 19.6 April 2000 SURVEY OF CURRENT BUSINESS downturn was attributable to a downturn in the Federal Government current surplus. The State and local government current surplus accelerated.13 Federal The Federal Government current surplus decreased $21.6 billion, to $112.2 billion, in the fourth quarter after increasing $15.7 billion in the third. The downturn resulted from a sharp acceleration in current expenditures that exceeded the acceleration in current receipts. Current receipts.—Federal current receipts increased $39.2 billion in the fourth quarter after increasing $30.0 billion in the third. The acceleration was more than accounted for by a step-up in corporate profits tax accruals and by a small acceleration in indirect business tax and nontax accruals. In contrast, personal tax and nontax receipts and contributions for social insurance decelerated. Corporate profits tax accruals increased $14.3 billion after increasing $4.3 billion. The acceleration reflected an acceleration in domestic corporate profits before tax. Indirect business tax and nontax accruals increased $3.5 billion after increasing $1.5 billion. The acceleration was mostly accounted for by nontaxes, which increased $1.3 billion after no change, and by excise taxes, which increased $1.2 billion after no change. Within excise taxes, taxes on gasoline increased $0.4 billion after decreasing $0.5 billion Personal tax and nontax receipts increased $14.7 billion after increasing $15.9 billion. Income taxes increased $14.5 billion after increasing $15.6 billion, reflecting a deceleration in wage and salary disbursements. Contributions for social insurance increased $6.7 billion after increasing $8.3 billion. The deceleration was mostly accounted for by contributions for social security (old-age, survivors, disability, and health insurance), which increased $6.1 billion after increasing $7.6 billion, reflecting the deceleration in wage and salary disbursements. Current expenditures.—Current expenditures increased $60.9 billion in the fourth quarter after increasing $14.3 billion in the third. The acceleration was accounted for by upturns in "subsidies less the current surplus of government enterprises" and in net interest paid and by accelera13. The NIPA estimates for the government sector are based on financial statements for the Federal Government and for State and local governments, but they differ from them in several respects. For the major differences, see NIPA tables 3.18B and 3.19 in this issue. tions in "transfer payments (net)" and in consumption expenditures. In contrast, current expenditures for grants-in-aid to State and local governments decelerated. "Subsidies less current surplus of government enterprises" increased $22.8 billion after decreasing $10.5 billion. The upturn was mostly accounted for by agricultural subsidies, which increased $22.5 billion after decreasing $10.1 billion. The upturn reflected special payments to farmers under the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriation Act. "Transfer payments (net)" increased $15.3 billion after increasing $5.1 billion. The acceleration was accounted for by transfer payments to the rest of the world, which increased $9.2 billion after decreasing $0.7 billion; these payments were boosted by the yearly payment of $2.4 billion ($9.6 billion at an annual rate) to Israel for economic support and other payments. Transfer payments to persons increased $6.0 billion after increasing $5.9 billion. Consumption expenditures increased $16.9 billion after increasing $9.8 billion. The acceleration was primarily accounted for by nondefense consumption expenditures, which increased $3.6 billion after decreasing $1.5 billion; the turnaround was primarily accounted for by expenditures for services, which increased $3.2 billion after decreasing $1.7 billion. Within services, expenditures for research and development and for employee compensation turned up. Defense consumption expenditures increased $13.4 billion after increasing $11.3 billion. The acceleration in defense spending was more than accounted for by services, which increased $14.9 billion after increasing $7.6 billion. Within services, "other services" increased $15.4 billion after increasing $6.8 billion. The acceleration in services was partly offset by a downturn in nondurable goods, mainly in petroleum products, and by a downturn in durable goods. Net interest paid increased $0.7 billion after decreasing $4.9 billion. The upturn was more than accounted for by a smaller decrease in interest paid to persons and business, which decreased $2.7 billion after decreasing $8.5 billion. Grants-in-aid to State and local governments increased $5.0 billion after increasing $14.9 billion. The deceleration was accounted for by decelerations in grants for medicaid and for "welfare and social services" and by a downturn in grants for natural resources. SURVEY OF CURRENT BUSINESS State and local The State and local government current surplus increased $19.9 billion, to $68.8 billion, in the fourth quarter after increasing $11.3 billion in the third. The acceleration was mostly accounted for by an acceleration in current receipts. Current receipts.—State and local government current receipts increased $37.9 billion after increasing $31.0 billion. The acceleration was more than accounted for by an acceleration in indirect business tax and nontax accruals. Personal tax and nontax receipts and corporate tax also accelerated. In contrast, Federal grants-inaid decelerated. (See Federal discussion earlier.) Indirect business tax and nontax accruals increased $21.8 billion after increasing $10.0 billion. The acceleration reflected the "out-of-court settlement payments to the States by tobacco companies: In the fourth quarter, these payments amounted to $2.8 billion ($11.2 billion at an annual rate); in the third quarter, these payments amounted to $0.3 billion ($1.0 billion at an annual rate). Sales taxes increased $7.5 billion after increasing $5.8 billion. Personal tax and nontax receipts increased $8.7 billion after increasing $5.1 billion. The acceleration was mostly accounted for by personal income taxes, which increased $7.9 billion after increasing $4.5 billion. Corporate profits tax accruals increased $2.1 billion after increasing $0.6 billion, reflecting the acceleration in domestic corporate profits before tax. Current expenditures.—Current expenditures increased $18.0 billion after increasing $19.7 billion. The deceleration was more than accounted for by a deceleration in consumption expenditures and by a larger decrease in "subsidies less current surplus of government enterprises/' In contrast, transfer payments to persons accelerated. Consumption expenditures increased $15.9 billion after increasing $18.1 billion. The deceleration was mainly attributable to decelerations in nondurable goods and in services; within services, compensation increased $8.1 billion after increasing $9.5 billion. "Subsidies less current surplus of government enterprises'" decreased $0.5 billion after decreasing $0.1 billion. Transfer payments to persons increased $2.5 billion after increasing $1.7 billion. The Government Sector in 1999 The combined current surplus of the Federal Government and of State and local governments increased $77.7 billion, to $166.4 billion, in 1999. The increase was mostly accounted for by an increase in the Federal Government current surplus. The Federal Government current surplus increased $68.5 billion, to $115.4 billion, in 1999.14 The increase in current receipts exceeded the increase in current expenditures. Federal current receipts increased $120.6 billion, to $1,871.3 billion, in 1999. The increase was mostly accounted for by increases in personal tax and nontax receipts, which increased $64.5 billion, and in contributions for social insurance, which increased $35.9 billion. Corporate profits tax accruals increased $15.9 billion, and indirect business taxes increased $4.2 billion. Federal current expenditures increased $52.0 billion, to $1,755.8 billion, in 1999. The increase was mostly accounted for by increases in "transfer payments (net)," which increased $24.1 billion, and in consumption expenditures, which increased $21.3 billion. Grants-in-aid to State and local governments increased $16.2 billion and "subsides less current surplus of government enterprises" increased $6.2 billion. These increases were partly offset by a sharp decrease in net interest paid, which decreased $15.6 billion, the first decrease since 1961. The decrease was more than accounted for by a sharp decrease in domestic interest payments to persons and business, which decreased $16.3 billion. In contrast, interest payments to the rest of the world increased $4.0 billion. The State and local government current surplus increased $9.3 billion, to $51.0 billion, in 1999. The increase in current receipts exceeded the increase in current expenditures. Current receipts increased $69.8 billion, to $1,140.2 billion; the increase was mostly accounted for by indirect business tax and nontax accruals, which increased $35.2 billion. Federal grants-in-aid increased $16.2 billion, and personal tax and nontax payments increased $15.0 billion. Corporate profits tax accruals increased 14. The NIPA estimates differ from the official Federal budget estimates in several respects, including the timing of transactions, the treatment of investment, and other coverage differences. For more information, see Laura M. Beall and Sean P. Keehan, "Federal Budget Estimates, Fiscal Year 2001," SURVEY 80 (March 2000): 16-25. April 2000 8 • April2ooo SURVEY OF CURRENT BUSINESS $3.2 billion, and contributions for social insurance increased $0.4 billion. State and local current expenditures increased $60.5 billion, to $1,089.2 billion, in 1999. The increase was mostly accounted for by consumption expenditures, which increased $49.9 billion, and by transfer payments to persons, which increased $9.9 billion. Net interest paid increased $1.3 billion. These increases were partly offset by a $0.5 billion decrease in "subsidies less current surplus of government enterprises." H 9 SURVEY OF CURRENT BUSINESS April 2000 Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade TABLES 1, 2, and 3 show quarterly and monthly estimates of real inventories, sales, and inventory-sales ratios, respectively. Table 4 shows real manufacturing inventories by stage of fabrication. Real estimates are in chained (1996) dollars. Data availability Quarterly estimates for 1977:1-1999:111 of real manufacturing and trade inventories, sales, and inventory-sales ratios and real manufacturing inventories by stage of fabrication were published in the January 2000 SURVEY OF CURRENT BUSINESS. The quarterly estimates for 1967-1999 are available as downloadable files on BEA's Web site at <www.bea.doc.gov>, click on "GDP and related data" and look under "time series estimates." The most recent estimates are also available by subscription from BEA: On diskette as part of the NIPA monthly update (product number NDS-0171, price $204.00) and as separate monthly printouts (product number NLS-0166, price $108.00). To order using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States, 202-606-9666). Q Table 1.—Real Manufacturing and Trade Inventories, Seasonally Adjusted, End of Period Table 2.—Real Manufacturing and Trade Sales, Seasonally Adjusted at Monthly Rate [Billions of chained (1996) dollars] [Billions of chained (1996) dollars] 1999 1999 Aug. Manufacturing and trade Sep. 1,145.3 1,162.8 1,141.3 1,145.3 Oct.' Dec. r Aug. 1,149.7 1,156.6 1,162.8 1,166.8 475.5 477.6 475.3 475.5 476.2 477.7 477.6 478.4 Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Transportation equipment Motor vehicles and equipment Other transportation equipment ... Other durable goods' 295.5 24.3 31.9 63.7 296.3 24.5 31.9 64.0 295.4 24.4 31.8 63.3 295.5 24.3 31.9 63.7 295.4 24.4 32.1 63.4 296.6 24.5 32.0 63.9 296.3 24.5 31.9 64.0 297.0 24.6 32.1 64.1 44.6 66.9 17.3 49.7 64.3 46.6 64.9 17.8 47.2 64.7 44.4 67.2 17.5 49.7 64.4 44.6 66.9 17.3 49.7 64.3 45.1 66.4 17.5 49.0 64.4 45.5 66.5 17.8 48.8 64.5 46.6 64.9 17.8 47.2 64.7 46.4 64.9 17.8 47.2 65.3 Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products Other nondurable goods 2 180.0 40.1 16.7 48.7 13.1 181.3 41.1 16.4 49.5 13.0 179.9 40.1 16.5 48.9 13.1 180.0 40.1 16.7 48.7 13.1 180.8 40.8 16.6 48.9 13.1 181.1 40.9 16.5 49.4 13.1 181.3 41.1 16.4 49.5 13.0 181.3 41.1 16.6 49.5 12.9 17.9 43.4 17.7 43.6 17.7 43.4 17.9 43.4 17.9 43.3 17.9 43.3 17.7 43.6 17.7 43.6 Manufacturing Merchant wholesalers . Durable goods Nondurable goods Groceries and farm products Other nondurable goods Retail trade . Durable goods Motor vehicle dealers 3 .... Other durable goods 3 Nondurable goods Food stores Other nondurable goods .. 317.5 321.6 315.2 317.5 318.1 321.2 321.6 323.0 202.6 114.9 42.8 72.9 207.2 114.3 40.8 74.0 201.0 114.2 41.9 72.9 202.6 114.9 42.8 72.9 204.1 113.9 41.1 73.4 207.0 114.1 41.0 73.6 207.2 114.3 40.8 74.0 207.7 115.3 40.9 74.8 352.2 363.3 350.8 352.2 355.3 357.6 363.3 365.1 193.6 100.1 93.5 158.6 31.6 127.0 200.9 103.9 96.9 162.5 32.0 130.6 192.5 99.1 93.4 193.6 100.1 93.5 158.6 31.6 127.0 196.2 101.5 196.4 101.5 94.9 161.2 31.8 129.4 200.9 103.9 203.0 106.4 96.9 162.5 32.0 130.6 96.6 162.2 158.3 31.3 127.0 94.6 159.2 31.8 127.4 1999 1999 2000 Nov. r 31.8 130.4 Sep. Oct. r 2000 Nov.'" Dec. Jan.'' 876.4 870.0 874.4 886.4 895.0 902.6 367.2 370.2 369.9 365.0 366.4 371.0 373.2 377.2 Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Transportation equipment Motor vehicles and equipment Other transportation equipment ... Other durable goods' 214.2 16.3 20.1 48.8 215.2 16.5 19.9 50.0 216.5 16.4 20.3 48.9 212.4 16.4 19.9 47.8 213.0 16.1 19.8 50.4 215.3 16.6 20.2 50.1 217.2 16.7 19.8 49.7 221.8 16.8 20.1 53.3 37.0 49.8 35.1 14.8 43.2 37.4 48.6 33.8 14.9 43.9 37.0 51.5 35.5 16.0 43.3 36.9 48.8 34.5 14.3 43.4 36.7 47.6 33.2 14.4 43.7 37.3 48.3 33.6 14.7 44.0 38.1 50.0 34.5 15.5 44.0 40.0 49,3 35.2 14.2 44.0 Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products Other nondurable goods 2 153.3 42.4 13.9 34.1 15.6 155.3 42.8 14.1 34.2 16.1 153.8 42.5 14.1 34.3 15.5 152.9 42.5 13.9 34.1 15.2 153.6 42.7 13.8 34.0 15.7 155.9 42.9 14.3 34.5 16.2 156.2 42.9 14.4 34.1 16.4 155.8 42.6 14.1 33.8 16.5 13.7 33.7 14.2 33.9 13.9 33.6 13.8 33.4 13.8 33.7 14.3 33.8 14.4 34.1 14.1 34.9 241.2 246.3 241.5 241.0 243.3 247.0 248.6 250.9 131.1 110.1 44.4 134.3 112.0 45.1 131.3 110.2 44.0 66.2 131.6 109.5 44.3 65.2 132.1 111.2 45.2 66.1 134.3 112.6 45.5 67.2 136.4 112.2 44.6 67.5 137.5 113.4 44.6 68.7 263.5 268.7 264.8 263.8 264.6 268.3 273.1 274.4 116.5 63.0 51.5 119.4 63.1 54.3 151.9 37.8 113.9 117.7 63.9 51.5 149.9 37.1 112.6 116.7 62.4 52.1 149.9 37.1 112.6 116.8 61.6 53.2 150.3 37.2 113.0 119.5 63.2 54.4 151.4 37.5 113.7 122.0 64.4 55.3 154.1 38.8 115.1 124.9 66.7 55.7 Manufacturing and trade . Manufacturing Merchant wholesalers ... Durable goods Nondurable goods Groceries and farm products Other nondurable goods Retail trade Durable goods Motor vehicle dealers 3 Other durable goods 3 Nondurable goods Food stores Other nondurable goods .... 872.0 149.6 37.0 112.4 153.1 36.9 115.8 p Preliminary. r Revised. 1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related products; and miscellaneous manufacturing industries. 2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products. 3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers. Beginning with 1981, these inventories are included in "other durable goods." p Preliminary. r Revised. 1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related products; and miscellaneous manufacturing industries. 2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products. 3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers. Beginning with 1981, these inventories are included in "other durable goods." NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory. Chained (1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for 1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-of-year chain-weighted and fixed-weighted inventories are equal. Chained (1996) dollar final sales are calculated NOTE.—Chained (1996) dollar sales are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. SURVEY OF CURRENT BUSINESS 10 • April 2000 Table 3.—Real Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted Table 4.—Real Manufacturing Inventories by Stage of Fabrication, Seasonally Adjusted, End of Period [Ratio, based on chained (1996) dollars] [Billions of chained (1996) dollars] 1999 2000 Aug. Manufacturing and trade Manufacturing Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Transportation equipment Motor vehicles and equipment.... Other transportation equipment .. Other durable goods 1 Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products Other nondurable goods 2 Merchant wholesalers Durable goods Nondurable goods Groceries and farm products Other nondurable goods Retail trade Durable goods Motor vehicle dealers3 Other durable goods 3 Nondurable goods Food stores Other nondurable goods Sep. Oct.' Nov.' Dec 1.31 1.31 1.30 1.32 1.32 1.31 1.30 1.29 1.30 1.29 1.29 1.30 1.30 1.29 1.28 1.27 1.38 1.49 1.59 1.31 1.38 1.49 1.60 1.28 1.37 1.49 1.57 1.30 1.39 1.48 1.60 1.33 1.39 1.51 1.62 1.26 1.38 1.48 1.59 1.28 1.36 1.47 1.61 1.29 1.34 1.47 1.60 1.20 1.21 1.34 .49 3.36 1.49 1.25 1.34 .53 3.17 1.47 1.20 1.31 .49 3.11 .15 1.21 1.37 .50 3.47 .15 1.23 1.40 .53 3.40 1.47 1.22 1.38 .53 3.32 1.46 1.22 1.30 .52 3.04 1.47 1.16 1.32 .51 3.34 1.48 1.18 .95 1.20 1.43 .84 1.17 .96 1.16 1.45 .81 1.17 .94 1.17 1.43 .85 1.18 .94 1.20 1.43 .86 1.18 .96 1.21 1.44 .84 1.16 .95 1.16 1.43 .81 1.16 .96 1.14 1.45 .79 1.16 .97 1.18 1.47 .78 1.30 1.29 1.25 1.29 1.28 .13 1.30 .13 1.30 1.29 1.25 1.28 1.23 1.28 1.26 1.25 1.32 1.31 1.31 1.32 1.31 1.30 1.29 1.29 1.55 1.04 .97 1.11 1.54 1.02 .91 1.11 1.53 1.04 .10 .11 1.54 1.05 .10 .11 1.55 1.02 .91 1.11 1.54 1.01 .90 1.10 1.52 1.02 .92 1.10 1.51 1.02 .92 1.09 1.34 1.35 1.33 1.34 1.34 1.33 1.33 1.33 1.66 1.59 1.82 1.06 .85 1.13 1.68 1.65 1.79 1.07 .85 1.15 1.64 1.55 .18 1.06 .84 .11 1.66 1.60 .18 1.06 .85 .11 1.65 1.78 1.06 .86 1.13 1.64 1.61 1.74 1.07 .85 1.14 1.65 1.61 1.75 1.05 .82 1.14 1.63 1.60 1.74 1.06 .86 1.13 ''Preliminary. r Revised. 1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related products; and miscellaneous manufacturing industries. 2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products. 3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers. Beginning with 1981, these inventories are included in "other durable goods." NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory. 1999 1999 Jan.* Aug. Sep. Oct. r 2000 Nov. r Dec. Jan.' Materials and supplies 162.0 164.7 161.6 162.0 161.4 163.0 164.7 164.2 Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Other durable goods' 96.3 8.0 11.5 21.1 98.5 8.1 11.5 21.8 95.9 8.0 11.4 20.7 96.3 8.0 11.5 21.1 95.9 8.0 11.5 20.7 97.2 8.0 11.4 21.4 98.5 8.1 11.5 21.8 97.7 8.1 11.5 20.7 17.3 8.3 6.7 23.4 18.6 9.4 5.5 23.7 17.3 8.0 7.0 23.5 17.3 8.3 6.7 23.4 17.4 8.3 6.7 23.3 18.0 9.0 6.1 23.4 9.4 5.5 23.7 18.5 9.5 5.8 23.6 Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products 65.7 12.5 8.4 15.8 3.8 66.2 13.0 65.7 12.7 8.3 16.0 3.7 65.7 12.5 8.4 15.8 3.8 65.5 12.4 8.2 16.3 3.7 65.8 12.6 8.2 16.0 7.6 17.5 7.5 17.6 7.5 17.4 7.6 17.5 7.5 17.5 145.5 143.6 145.5 145.5 115.0 8.2 9.3 22.3 112.8 8.3 9.1 22.1 115.1 8.3 9.2 22.5 115.0 8.2 9.3 22.3 15.9 4.6 38.0 16.8 16.0 4.4 36.4 16.6 16.0 4.9 37.7 16.6 30.5 6.5 1.8 8.7 3.1 30.8 6.7 1.8 8.7 3.3 2.3 8.1 Manufacturing Other nondurable goods 2 66.2 13.0 3.9 8.2 16.3 3.7 66.4 12.8 8.2 16.3 3.9 7.5 17.5 7.5 17.6 7.5 17.7 145.8 145.8 143.6 143.5 115.1 8.3 9.3 22.6 114.9 8.3 9.2 22.3 112.8 8.3 9.1 22.1 113.1 8.3 9.3 22.7 15.9 4.6 38.0 16.8 16.0 4.9 37.4 16.8 15.8 4.7 37.6 17.0 16.0 4.4 36.4 16.6 15.8 4.3 36.1 16.8 30.4 6.5 1.7 8.7 3.1 30.5 6.5 1.8 8.7 3.1 30.7 6.7 1.8 8.8 3.0 30.9 6.7 1.8 8.7 3.2 30.8 6.7 1.8 8.7 3.3 30.4 6.7 1.8 8.5 3.1 2.3 8.2 2.3 8.0 2.3 8.1 2.3 8.2 2.3 8.2 2.3 8.2 2.2 8.2 168.0 169.3 168.2 168.9 169.3 170.7 84.2 8.1 11.2 20.3 85.1 8.1 11.3 20.1 84.5 8.2 11.2 20.1 84.2 8.1 11.2 20.3 8.2 11.3 20.1 84.6 8.2 11.3 20.2 85.1 8.1 11.3 20.1 86.3 8.2 11.4 20.7 11.4 4.3 4.9 24.1 12.0 4.0 5.3 24.4 11.1 4.6 5.0 24.3 11.4 4.3 4.9 24.1 11.7 4.3 4.9 24.2 11.7 4.1 5.2 24.0 12.0 4.0 5.3 24.4 12.1 4.0 5.2 24.8 83.8 21.0 6.6 24.1 6.2 84.2 21.5 6.5 24.5 6.0 83.7 20.8 6.5 24.3 6.3 83.8 21.0 84.5 21.7 84.3 21.5 6.6 24.1 6.2 6.6 24.2 6.2 6.5 24.7 5.9 84.2 21.5 6.5 24.5 6.0 84.5 21.5 6.6 24.7 5.9 8.0 17.8 7.9 17.8 7.9 17.9 8.0 17.8 8.2 17.5 8.2 17.5 7.9 17.8 8.0 17.7 8.3 15.9 3.9 Work-in-process Manufacturing Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Other durable goods» Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products Other nondurable goods 2 Finished goods Manufacturing Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Other durable goods' Nondurable goods Food and kindred products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastic products Other nondurable goods 2 p Preliminary. r Revised. 1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related products; and miscellaneous manufacturing industries. 2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products. 3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers. Beginning with 1981, these inventories are included in "other durable goods." NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding the inventory. Chained (1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for 1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-of-year chain-weighted and fixed-weighted inventories are equal. Chained (1996) dollar final sales are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. April 2000 SURVEY OF CURRENT BUSINESS 11 Improved Estimates of the National Income and Product Accounts for 1929-99: Results of the Comprehensive Revision By Brent R. Moulton T HE BUREAU OF EONOMIC ANALYSIS (BEA) has completed most of its 1 lth comprehensive revision ofthe national income and product accounts (NIPA's) with the release of revised NIPA estimates for 1929-58 and of estimates of fixed assets and consumer durable goods for 1998 (new) and for 1925-97 (revised). These estimates incorporate the definitional, statistical, and presentational improvements that were introduced last October into the revised estimates beginning with 1959.1 In addition, BEA has released revised estimates beginning with 1959 that incorporate corrections and a previously announced improvement in methodology. The article "Fixed Assets and Consumer Durable Goods: Revised Estimates for 1925-98" in this issue presents the estimates of fixed assets and consumer durable goods; this article describes the revised NIPA estimates. A list of the data series released in October 1999 and published in the December 1999 issue of the SURVEY OF CURRENT BUSINESS that have been corrected or revised is shown on page 32. NIPA tables that present annual estimates for 1995-99 and quarterly estimates for 1997:1-1999:IV begin on page 36.2 Tables that present estimates of gross domestic product (GDP) and other major NIPA series for 1929-99 begin on page 126. For further informa1. For the definitional changes, including the recognition of business and government expenditures for software as investment and the reclassification of government employee retirement plans, see Brent R. Moulton, Robert P. Parker, and Eugene P. Seskin, "A Preview of the 1999 Comprehensive Revision of the National Income and Product Accounts: Definitional and Classificational Changes," SURVEY OF CURRENT BUSINESS 79 (August 1999): 7-20. For the statistical changes, including the incorporation of the 1992 benchmark input-output accounts, the improved estimates of the real value of unpriced bank services, and the incorporation of geometric-mean-type consumer price indexes, see Brent R. Moulton and Eugene P. Seskin, "A Preview of the 1999 Comprehensive Revision of the National Income and Product Accounts: Statistical Changes," SURVEY 79 (October 1999): 6-17. For the presentational changes that were made to reflect the definitional and statistical changes, see Brent R. Moulton and David F. Sullivan, "A Preview of the 1999 Comprehensive Revision of the National Income and Product Accounts: New and Redesigned Tables," SURVEY 79 (September 1999): 15-28. For a discussion of the major sources of the revisions to the NIPA aggregates for 1959-98, see Eugene P. Seskin, "Improved Estimates of the National Income and Product Accounts for 1959-98: Results of the Comprehensive Revision, SURVEY 79 (December 1999): 15-43. tion on the availability of the revised estimates, see the box on page 12. Tables 1-3 of this article show annual levels, percent changes, and revisions to percent changes for current-dollar GDP, for real GDP, and for the chain-type price indexes for 1929-98. Revisions to change.—For 1929-58, the average annual growth rate of real GDP was unrevised at 3.4 percent. The largest revision to an annual growth rate of real GDP was +0.5 percentage point for 1947, reflecting a revision to Federal Government consumption expenditures and gross investment, which, in turn, reflected a revision to the change in inventories of the Commodity Credit Corporation. Other revisions to annual growth rates of real GDP were 0.4 percentage point or less in absolute value and primarily reflected revisions to the change in private inventories and to Federal Government consumption and investment. The revisions to the change in private inventories reflected the new methodology for construction inventories that eliminated the double-count of construction work-in-progress and unsold finished structures.3 For 1939-47, revisions to real Federal nondefense consumption and investment reflected the use of additional detailed information on prices of Commodity Credit Corporation inventory changes. Beginning with 1959, the revisions to real GDP reflected a correction to real "services furnished without payment by financial intermediaries." This correction affected real GDP and prices, but it did not affect current-dollar GDP. The average annual growth rate of real GDP over 1959-98 was unrevised at 3.4 percent. For specific years, the revisions were more notable. The largest revision to the annual growth rate of GDP was +0.4 percentage point for 1976; the growth rate for 1993 was revised up 0.3 percentage point. The growth rates for 1974, 1991, 1992, and 1997 were 2. NIPA tables 3.15-3.17, showing government expenditures by function, are not yet available and will be introduced in an article in a subsequent issue of the SURVEY. 3. See Moulton and Seskin, "Statistical Changes," 10. 12 • April 2000 SURVEY OF CURRENT BUSINESS each revised down 0.3 percentage point. The components of real GDP and GDP prices that were revised as a result of this correction were personal consumption expenditures (PCE), exports of services, Federal Government nondefense consumption expenditures, and State and local government consumption expenditures. Revisions to the chain-type price indexes reflected many of the same changes in methodology that affected estimates of real GDP. For 1929-58, the average annual growth rate of the gross domestic purchases price index was unrevised at 1.9 percent; revisions to annual growth rates ranged from -0.4 percentage point for 1940 to +0.2 percentage point for 1942. Beginning with 1959, the growth rates of prices were revised in the opposite direction of the revisions to real GDP growth rates that resulted from the correction to real "services furnished without payment by financial intermediaries"; current-dollar GDP and its components were not revised. For 1959-98, the average annual growth rate of gross domestic purchases prices was unrevised at 4.1 percent; revisions to annual growth rates ranged from -0.3 percentage point for 1976 to +0.4 percentage point for 1974. For 1977-98, the growth rates of real gross product of nonfinancial corporate business and of its price index were revised, reflecting a previously announced improvement in methodology in which a new industry-based price index is used for deflation.4 Previously, the implicit price deflator for goods and structures in GDP was used to deflate this aggregate. The new index better reflects the changing industrial composition of this sector, in which the production of services has become increasingly important, and it provides better measures of productivity, costs, and profits per unit of gross product. For 1977-98, the average annual growth rate of real gross product of nonfinancial corporate business was revised down from 4.1 percent to 3.7 percent; the downward revision reflects the tendency for prices of services, which were not included in the previous deflator, to increase faster than prices of goods. Revisions to level—Revisions to the levels of current-dollar GDP for 1929-58 were generally small and mainly reflected methodological improvements. The revisions ranged from -0.1 percent for 1946 to +0.4 percent for 1932 and mostly reflected revisions to change in private inventories, to government consumption and investment, and to PCE. The revisions to government consumption and investment were mostly to State and local government consumption of fixed capital (CFC) and reflected the use of a shorter service life for depreciating highways and streets.5 For 195998, current-dollar GDP and its components were unrevised. Revisions to national income ranged from -0.6 percent for 1958 to +0.6 percent for 1933. For 1929-46, the revisions primarily reflected revisions to the capital consumption adjustment (CCAdj) because of corrections to pre-1925 data on fixed assets and prices. For 1947-58, downward revisions to national income reflected a change in the methodology for estimating the rental income from nonfarm nonresidential properties, which 5. See Moulton and Seskin, "Statistical Changes," 13. 4. See Moulton and Seskin, "Statistical Changes," 13. Availability of Revised Estimates and Related Information The estimates shown in the NIPA tables beginning on page 36, along with estimates for earlier periods (for most tables, back to 1929 for annual estimates and back to 1946 for quarterly estimates), are available on BEA's Web site at <www.bea.doc.gov> and on STAT-USA's Web site at <www.stat-usa.gov>. These estimates incorporate the March 2000 release of corrections and revisions to the 1959-98 NIPA estimates that were released in October 1999. Later this year, the data will be available on a CDROM. In early 2001, BEA will publish National Income and Product Accounts of the United States, 1929-97, which will present the full set of NIPA tables, including revised estimates for 1997 from this year's annual NIPA revision, and will describe definitions and statistical conventions. The availability of the CD-ROM and the volume will be announced in the SURVEY OF CURRENT BUSINESS and BEA's Web site. on For information about the comprehensive revision, see the following issues of the SURVEY: • Definitional and classificational changes (August 1999). • New and redesigned tables (September 1999). • Statistical changes (October 1999). • Improved estimates of the NIPA's (December 1999). • Real inventories, sales, and inventory-sales ratios (January 2000). • Comparison of personal income and IRS adjusted gross income (February 2000). Other information related to the NIPA estimates will be released as the work is completed. The listing below provides approximate schedules for the release of most of the remaining estimates. Gross product by industry, 1947-98 (June 2000). Government expenditures by function (June 2000). SURVEY OF CURRENT BUSINESS was carried back to 1947.6 For 1959-98, small revisions to national income reflected revisions to the CCAdj, which in turn resulted from a correction to CFC. This correction also affected current-dollar and real net domestic product, but it did not affect GDP. National income was revised up by small amounts, reflecting upward revisions to profits from current production that, in turn, reflected upward revisions to the corporate CCAdj. For 1998, national income was revised up $2.4 billion. Within GDP and gross domestic income, the revisions to the CCAdj were largely offset by revisions to CFC. Thus, revisions to the statistical discrepancy—the difference between GDP (the "product-side" measure of output) and gross domestic income (the "income-side" measure of output)—mainly reflected the revisions to the change in private inventories and to rental income of persons. For 1947-58, the statistical discrepancy was revised up, reflecting downward revisions to gross domestic income that, in turn, reflected downward revisions to rental income. For 1959-98, gross product of corporate business was revised down, reflecting a correction to the allocation of indirect business tax and nontax liabilities by legal form of organization and by industry.7 This correction did not affect GDP, gross domestic income, or national income. The revisions to gross product of corporate business mostly reflected revisions to gross product of nonfinancial corporate business. For 1959-98, current-dollar gross product of nonfinancial corporate business was revised down substantially for all years; the revisions ranged from -3.1 percent for 1961 to -1.4 percent for 1988. For 1929-58, revisions to personal income ranged from -0.2 percent for 1955 to +0.4 percent for 1943. These revisions mostly reflected the definitional change in the treatment of government employee retirement plans and the methodological change to rental income.8 Revisions to disposable personal income (DPI) ranged from +0.2 percent for 1955 to +1.1 percent for 1938 and reflected the redefinition of estate and gift taxes as capital transfers and the definitional and methodological changes that affected personal income.9 Revisions to the personal saving rate ranged from +0.3 percentage point for 1955 to +1.1 percentage point for 1938. For 1959-98, personal income, current-dollar DPI, and personal outlays were unrevised, but real DPI and real PCE were affected by the correction to real "services furnished without payment by financial intermediaries." Tables 1 through 3 follow, £g| 6. See Moulton and Seskin, "Statistical Changes," 11. 7. Current-dollar gross product of corporate business is measured as the sum of the corporate distributions of the components of gross domestic income. Consequently, it represents an "income-side" measure of value added rather than a "product-side" measure. 8. See Moulton, Parker, and Seskin, "Definitional and Classificational Changes," 11-12; and Moulton and Seskin, "Statistical Changes," 11. 9. See Moulton, Parker, and Seskin, "Definitional and Classificational Changes," 13-14. April 2000 • 13 14 • April 2000 SURVEY OF CURRENT BUSINESS Table 1.—Gross Domestic Product: Levels, Percent Change from Preceding Period, and Revision to Percent Change Year Billions of dollars Percent change from preceding period Revision to percent change from Preceding period2 Personal Gross Gross consump- private Exports Imports domestic domestic of goods of goods Governtion and and ment1 product expendi- investservices services ment tures Personal Gross Gross consump- private Exports Imports of goods of goods Governdomestic tion domestic and and ment1 product expendi- investservices services tures ment Personal Gross Gross consump- private Exports Imports Governtion domestic of goods of goods domestic and and ment1 product expendi- invest- services services tures ment 103.7 77.5 16.5 5.9 5.6 9.4 1930 1931 1932 1933 1934 .... .... .... .... .... 91.3 76.6 58.8 56.4 66.0 70.2 60.7 48.7 45.9 51.5 10.8 5.9 1.3 1.7 3.7 4.4 2.9 2.0 2.0 2.6 4.1 2.9 1.9 1.9 2.2 10.0 9.9 8.8 8.7 10.6 -12.0 -16.1 -23.2 -4.0 16.9 -9.4 -13.5 -19.7 -5.8 12.0 -34.7 -44.9 -78.6 37.4 111.9 -25.2 -34.6 -32.0 .6 28.8 -25.8 -29.5 -33.5 -.2 16.1 6.7 -1.0 -11.9 -.5 21.2 .3 0 .2 0 -.2 0 0 0 0 0 1.5 -.4 2.1 -9.7 -3.3 0 0 0 0 0 0 0 0 0 0 -.1 0 0 .2 -.1 1935 1936 1937 1938 1939 .... .... .... .... .... 73.3 83.7 91.9 86.1 92.0 55.9 62.2 66.8 64.2 67.2 6.7 8.6 12.2 7.1 9.3 2.8 3.0 4.0 3.8 3.9 3.0 3.2 4.0 2.8 3.1 10.9 13.1 12.8 13.8 14.7 11.0 14.2 9.7 -6.3 6.9 8.7 11.2 7.5 -3.9 4.6 81.5 28.9 40.7 -41.8 32.0 8.0 8.2 33.6 -5.6 3.7 33.2 5.8 25.6 -28.2 10.2 3.3 20.0 -1.9 7.5 6.8 0 -.1 0 .1 -.1 0 0 0 0 0 .9 -1.1 .1 .3 -.3 0 0 0 0 0 0 0 0 0 0 -.1 -.2 -.1 0 0 71.2 81.0 88.9 99.7 108.5 13.6 18.1 10.4 6.1 7.8 4.8 5.4 4.3 3.9 4.8 3.4 4.4 4.6 6.3 6.9 15.1 26.6 62.8 94.9 105.5 10.1 25.0 27.7 22.7 10.7 6.0 13.8 9.7 12.2 8.8 46.0 32.8 -42.4 -41.3 27.3 23.0 12.2 -20.5 -8.6 21.0 9.2 29.9 4.0 35.7 9.9 2.2 76.5 136.1 51.2 11.2 0 -.2 .1 0 -.1 0 0 0 0 0 -.2 -.8 .2 .6 -1.7 0 0 0 0 0 0 0 0 0 0 -.1 -.5 -.5 -.2 -.1 0 0 0 0 0 .1 -.6 .3 .3 .2 0 0 0 0 0 0 0 0 0 0 -.1 -.1 .1 -.3 0 1945 1946 1947 1948 1949 .... .... .... .... .... 223.0 222.3 244.4 269.6 267.7 119.8 144.2 162.3 175.4 178.8 10.8 31.1 35.0 48.1 36.9 6.7 14.1 18.7 15.5 14.4 7.5 7.0 7.9 10.1 9.2 93.2 39.8 36.4 40.6 46.8 1.5 -.3 10.0 10.3 -.7 10.5 20.4 12.5 8.1 2.0 39.0 187.3 12.2 37.6 -23.4 40.6 110.6 32.7 -17.1 -3.9 9.3 -7.6 13.8 26.8 -8.1 -11.7 -57.3 15.1 -.1 0 .1 0 0 1950 1951 1952 1953 1954 .... .... .... .... .... 294.3 339.5 358.6 379.9 381.1 192.7 208.6 219.7 233.4 240.5 54.1 60.2 54.0 56.4 53.8 12.3 17.0 16.3 15.2 15.7 11.6 14.6 15.3 16.0 15.4 46.9 68.3 83.9 90.8 86.5 10.0 15.4 5.6 5.9 .3 7.7 8.3 5.3 6.3 3.0 46.6 11.3 -10.2 4.5 -4.6 -14.9 38.6 -3.9 -6.9 3.5 25.5 25.6 4.9 4.7 -3.6 .3 45.6 22.8 8.3 -4.8 0 .1 .1 0 -.1 0 0 0 0 -.1 -.9 0 .2 .3 -.2 0 0 0 0 0 0 0 0 0 0 .1 .4 .1 0 0 1955 1956 1957 1958 1959 .... .... .... .... .... 415.2 438.0 461.5 467.9 507.4 259.0 271.9 287.0 296.6 318.1 69.0 72.0 70.5 64.5 78.5 17.6 21.2 23.9 20.4 20.6 17.2 18.9 19.9 20.0 22.3 86.8 91.8 100.1 106.5 112.5 9.0 5.5 5.4 1.4 8.4 7.7 5.0 5.6 3.3 7.3 28.3 4.3 -2.2 -3.5 21.8 11.7 20.5 12.8 -14.5 1.0 11.5 10.0 5.4 .4 11.5 .4 5.7 9.0 6.4 5.6 .1 0 .1 0 .1 0 .2 -.1 .2 -.4 0 .1 0 0 0 0 0 0 0 0 .1 0 0 .1 1960 1961 1962 1963 1964 .... .... .... .... .... 527.4 545.7 586.5 618.7 664.4 332.3 342.7 363.8 383.1 411.7 78.9 78.2 88.1 93.8 102.1 25.3 26.0 27.4 29.4 33.6 22.8 22.7 25.0 26.1 28.1 113.8 121.5 132.2 138.5 145.1 3.9 3.5 7.5 5.5 7.4 4.5 3.1 6.2 5.3 7.5 .5 -.9 12.8 6.4 8.9 22.3 3.1 5.3 7.4 14.1 2.3 -.7 10.0 4.7 7.5 1.2 6.8 8.8 4.8 4.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1965 1966 1967 1968 1969 .... .... .... .... .... 720.1 789.3 834.1 911.5 985.3 444.3 481.8 508.7 558.7 605.5 118.2 131.3 128.6 141.2 156.4 35.4 38.9 41.4 45.3 49.3 31.5 37.1 39.9 46.6 50.5 153.7 174.3 195.3 212.8 224.6 8.4 9.6 5.7 9.3 8.1 7.9 8.4 5.6 9.8 8.4 15.9 11.0 -2.1 9.8 10.8 5.4 10.0 6.2 9.5 8.8 12.2 17.5 7.7 16.6 8.5 5.9 13.4 12.0 8.9 5.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1970 1971 1972 1973 1974 .... .... .... .... .... 1,039.7 1,128.6 1,240.4 1,385.5 1,501.0 648.9 702.4 770.7 852.5 932.4 152.4 178.2 207.6 244.5 249.4 57.0 59.3 66.2 91.8 124.3 55.8 62.3 74.2 91.2 127.5 237.1 251.0 270.1 287.9 322.4 5.5 8.6 9.9 11.7 8.3 7.2 8.2 9.7 10.6 9.4 -2.6 16.9 16.5 17.8 2.0 15.6 4.1 11.6 38.6 35.5 10.4 11.8 19.0 22.8 39.8 5.6 5.9 7.6 6.6 12.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1975 1976 1977 1978 1979 .... .... .... .... .... 1,635.2 1,823.9 2,031.4 2,295.9 2,566.4 1,030.3 1,149.8 1,278.4 1,430.4 1,596.3 230.2 292.0 361.3 436.0 490.6 136.3 148.9 158.8 186.1 228.7 122.7 151.1 182.4 212.3 252.7 361.1 384.5 415.3 455.6 503.5 8.9 11.5 11.4 13.0 11.8 10.5 11.6 11.2 11.9 11.6 -7.7 26.8 23.8 20.7 12.5 9.6 9.2 6.7 17.2 22.9 -3.7 23.2 20.7 16.3 19.0 12.0 6.5 8.0 9.7 10.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1980 1981 1982 1983 1984 .... .... .... .... .... 2,795.6 3,131.3 3,259.2 3,534.9 3,932.7 1,762.9 1,944.2 2,079.3 2,286.4 2,498.4 477.9 570.8 516.1 564.2 735.5 278.9 302.8 282.6 277.0 303.1 293.8 317.8 303.2 328.6 405.1 569.7 631.4 684.4 735.9 800.8 8.9 12.0 4.1 8.5 11.3 10.4 10.3 7.0 10.0 9.3 -2.6 19.5 -9.6 9.3 30.4 22.0 8.5 -6.7 -2.0 9.4 16.3 8.1 -4.6 8.4 23.3 13.2 10.8 8.4 7.5 8.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1985 1986 1987 1988 1989 .... .... .... .... .... 4,213.0 4,452.9 4,742.5 5,108.3 5,489.1 2,712.6 2,895.2 3,105.3 3,356.6 3,596.7 736.3 747.2 781.5 821.1 872.9 303.0 320.3 365.6 446.9 509.0 417.2 452.2 507.9 553.2 589.7 878.3 942.3 997.9 1,036.9 1,100.2 7.1 5.7 6.5 7.7 7.5 8.6 6.7 7.3 8.1 7.2 .1 1.5 4.6 5.1 6.3 0 5.7 14.1 22.2 13.9 3.0 8.4 12.3 8.9 6.6 9.7 7.3 5.9 3.9 6.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1990 1991 1992 1993 1994 .... .... .... .... .... 5,803.2 5,986.2 6,318.9 6,642.3 7,054.3 3,831.5 3,971.2 4,209.7 4,454.7 4,716.4 861.7 800.2 866.6 955.1 1,097.1 557.2 601.6 636.8 658.0 725.1 628.6 622.3 664.6 718.5 812.1 1,181.4 1,235.5 1,270.5 1,293.0 1,327.9 5.7 3.2 5.6 5.1 6.2 6.5 3.6 6.0 5.8 5.9 -1.3 -7.1 8.3 10.2 14.9 9.5 8.0 5.8 3.3 10.2 6.6 -1.0 6.8 8.1 13.0 7.4 4.6 2.8 1.8 2.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1995 1996 1997 1998 .... .... .... .... 7,400.5 7,813.2 8,300.8 8,759.9 4,969.0 5,237.5 5,524.4 5,848.6 1,143.8 1,242.7 1,383.7 1,531.2 818.6 874.2 968.0 966.3 902.8 963.1 1,056.3 1,115.9 1,372.0 1,421.9 1,481.0 1,529.7 4.9 5.6 6.2 5.5 5.4 5.4 5.5 5.9 4.2 8.7 11.3 10.7 12.9 6.8 10.7 -.2 11.2 6.7 9.7 5.6 3.3 3.6 4.2 3.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 : 101.3 126.7 161.8 198.4 219.7 CD CO CO CO CO : : : : 1929 .... 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. April 2000 • SURVEY OF CURRENT BUSINESS 15 Table 2.—Real (Gross Domestic Product: Levels, Percent Change from Preceding Period, and Revision to Percent Change Year Billions of chained (1996) dollars Percent change from preceding period Revision to percent change from Preceding period2 Personal Gross Exports Imports Gross conprivate of goods of goods Governdomestic sumption domestic Residual and and ment 1 product expendi- investservices services tures ment Personal Gross Exports Imports conGross private of goods of goods Governdomestic sumption domestic and and ment 1 product expendi- investservices services tures ment Personal Gross Exports Imports private Gross conof goods of goods Governdomestic sumption domestic and and ment 1 product expendi- invest- services services ment tures 1929 .... 822.2 625.7 93.6 35.8 46.3 110.1 3.3 1930 1931 1932 1933 1934 .... .... .... .... .... 751.5 703.6 611.8 603.3 668.3 592.3 574.3 523.0 511.0 546.9 62.5 39.2 11.8 17.5 31.6 29.6 24.6 19.3 19.4 21.5 40.3 35.1 29.2 30.4 31.0 121.3 126.6 122.4 118.0 133.0 -13.9 -26.0 -35.5 •^32.2 -<33.7 -8.6 -6.4 -13.0 -1.4 10.8 -5.3 -3.0 -8.9 -2.3 7.0 -43.3 -37.2 -69.8 47.5 80.6 -17.3 -16.9 -21.7 1935 1936 1937 1938 1939 .... .... .... .... .... 728.3 822.5 865.8 835.6 903.5 580.6 639.6 663.5 652.6 689.0 58.4 74.9 93.6 61.9 79.6 22.7 23.9 30.1 29.8 31.4 40.7 40.2 45.2 35.2 36.9 137.0 158.9 153.2 164.6 179.7 -29.7 -34.6 -29.4 -48.1 -39.3 9.0 12.9 5.3 -4.5 8.1 6.2 10.2 3.7 -1.6 5.6 1940 1941 1942 1943 1944 .... .... .... .... .... 980.7 1,148.8 1,360.0 1,583.7 1,714.1 724.9 776.7 758.3 779.1 801.7 110.9 135.4 71.6 42.3 52.2 35.7 36.7 24.1 20.1 21.6 37.8 46.5 42.2 53.2 55.7 182.4 303.0 711.1 1,059.9 1,195.6 -35.4 -56.5 -162.9 -264.5 -301.3 8.5 17.1 18.4 16.5 8.2 1945 1946 1947 1948 1949 .... .... .... .... .... 1,693.3 1,505.5 1,495.1 1,560.0 1,550.9 851.8 956.9 976.4 998.1 1,025.3 69.0 175.0 168.6 215.3 164.3 30.5 66.5 75.9 59.8 59.2 59.2 49.1 46.6 54.4 52.5 1,041.0 359.7 307.1 328.9 367.3 -239.8 -4.5 13.7 12.3 -12.7 1950 1951 1952 1953 1954 .... .... .... .... .... 1,686.6 1,815.1 1,887.3 1,973.9 1,960.5 1,090.9 1,107.1 1,142.4 1,197.2 1,221.9 232.5 233.2 211.1 221.0 210.8 51.8 63.5 60.6 56.5 59.3 62.0 64.5 70.1 76.7 72.9 367.4 500.0 605.1 647.5 602.9 4955 1956 1957 1958 1959 .... .... .... .... .... 2,099.5 2,141.1 2,183.9 2,162.8 2,319.0 1,310.4 1,348.8 1,381.8 1,393.0 1,470.7 262.1 258.6 247.4 226.5 272.9 65.6 76.5 83.1 71.8 72.4 81.7 88.4 92.1 96.4 106.6 1960 1961 1962 1963 1964 .... .... .... .... .... 2,376.7 2,432.0 2,578.9 2,690.4 2,846.5 1,510.8 1,541.2 1,617.3 1,684.0 1,784.8 272.8 271.0 305.3 325.7 352.6 87.5 88.9 93.7 100.7 114.2 1965 1966 1967 1968 1969 .... .... .... .... .... 3,028.5 3,227.5 3,308.3 3,466.1 3,571.4 1,897.6 2,006.1 2,066.2 2,184.2 2,264.8 402.0 437.3 417.2 441.3 466.9 1970 1971 1972 1973 1974 .... .... .... .... .... 3,578.0 3,697.7 3,898.4 4,123.4 4,099.0 2,317.5 2,405.2 2,550.5 2,675.9 2,653.7 1975 1976 1977 1978 1979 .... .... .... .... .... 4,084.4 4,311.7 4,511.8 4,760.6 4,912.1 1980 1981 1982 1983 1984 .... .... .... .... .... 1985 1986 1987 1988 1989 —x —.t .1 .1 0 0 -.1 2.0 -.1 3.9 -18.6 -11.2 .1 -1 0 0 0 0 0 0 0 0 -.1 0 .1 0 0 3.0 16.0 -4.6 7.5 9.1 .1 -.2 .1 .1 0 .1 0 -.1 0 0 1.1 -1.9 -i!o 0 0 0 0 0 0 0 0 0 0 -.1 -.1 0 .2 .3 2.4 22.9 -9.2 26.1 4.6 1.5 66.1 134.7 49.1 12.8 -.1 0 -.4 .2 .2 -.7 -1.1 3 .9 -i!i 0 0 0 -.1 0 0 -.1 0 0 0 0 .7 -5.6 -.1 .6 41.5 117.7 14.2 -21.3 -1.0 6.3 -17.1 -5.0 16.7 -3.5 -12.9 -65.5 -14.6 7.1 11.7 -1 -.1 0 .1 0 -.1 0 .1 0 0 0 0 c .3 .6 .7 0 0 0 -.1 -.1 0 0 .1 0 0 -.3 0 2.2 .2 .3 41.5 3 -&5 4.7 -4.6 -12.5 22.6 -4.7 -6.7 4.9 18.2 3.9 8.8 9.4 -4.9 0 36.1 21.0 7.0 -6.9 -.2 0 3 0 0 -1.9 —.2 1.0 .1 .1 0 0 0 , -.1 0 0 0 0 0 0 .3 .1 .2 .1 .1 7.2 2.9 2.5 .8 5.6 24.4 -1.3 -4.3 -6.4 20.5 10.6 16.6 8.7 -13.7 .9 12.1 8.1 4.2 4.7 10.5 -4.7 .1 4.4 3.2 5.6 0 0 .1 0 0 0 0 -.1 0 0 0 .1 0 -.3 .2 .3 .4 0 0 0 0 .1 0 0 -.1 .1 -.2 0 0 2.5 2.3 6.0 4.3 5.8 2.7 2.0 4.9 4.1 6.0 0 -.7 12.7 6.7 8.3 20.8 1.7 5.4 7.5 13.3 1.3 -.7 11.3 2.7 5.3 0 4.8 6.0 2.4 2.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 .1 -.1 0 0 0 0 0 0 0 0 0 0 0 -35.8 -38.1 -53.0 -49.9 -42.6 6.4 6.6 2.5 4.8 3.0 6.3 5.7 3.0 5.7 3.7 14.0 8.8 -4.6 5.8 5.8 2.0 6.7 2.2 7.3 5.4 10.6 14.9 7.3 14.9 5.7 3.1 9.0 7.5 3.2 -.4 0 0 0 0 -.1 0 0 0 0 -1 0 0 0 0 0 0 0 0 0 -.1 0 0 0 0 0 0 0 0 0 -.1 931.1 913.8 914.9 908.3 924.8 -43.0 -42.5 -22.2 -5.3 -5.6 .2 3.3 5.4 5.8 -.6 2.3 3.8 6.0 4.9 -.8 -6.6 11.4 11.8 11.7 -7.4 10.8 .7 8.1 21.9 9.5 4.3 5.3 11.2 4.6 -2.3 -2.3 -1.9 .1 -.7 1.8 0 .2 .1 .1 -.3 0 0 0 0 0 0 .2 .1 .1 -.3 0 0 0 0 0 0 .1 .1 .1 -.3 237.5 284.0 315.0 342.3 347.9 942.5 943.3 952.7 982.2 1,001.1 -23.7 -15.6 -7.1 7.1 17.9 2.2 5.8 4.3 4.4 2.5 -17.7 20.2 15.1 11.5 3.1 -.7 5.9 2.5 10.5 9.6 -11.1 19.6 10.9 8.7 1.7 1.9 .1 1.0 3.1 1.9 -.1 .4 .1 -.2 -.2 0 0 0 0 0 -.1 .3 .1 -.1 -.2 0 0 0 0 0 -.1 .2 .1 -.1 -.1 334.8 338.6 314.6 306.9 332.6 324.8 333.4 329.2 370.7 461.0 1,020.9 1,030.0 1,046.0 1,081.0 1,118.4 21.7 34.2 -2.8 -12.9 3.1 -.4 5.6 4.6 5.5 3.2 _2 2.5 -2.0 4.3 7.3 -.3 1.3 1.2 5.5 5.4 -10.9 9.2 -14.0 9.5 29.3 10.7 1.1 -7.1 -2.4 8.4 -6.6 2.6 -1.3 12.6 24.3 2.0 .9 1.5 3.3 3.5 -.2 0 -.1 .1 0 0 .3 .1 .1 -.4 -.1 .4 .1 -.3 -3 -.3 -.1 -.2 .2 0 0 0 0 0 0 -.2 -.1 -.1 .2 0 0 0 0 0 0 -.1 0 -.1 0 0 863.4 857.7 879.3 902.8 936.5 341.6 366.8 408.0 473.5 529.4 490.7 531.9 564.2 585.6 608.8 1,190.5 1,255.2 1,292.5 1,307.5 1,343.5 -8.6 -16.6 -15.7 -9.3 -2.5 3.8 3.4 3.4 4.2 3.5 5.0 4.2 3.3 4.0 2.7 -.9 -.7 2.5 2.7 3.7 2.7 7.4 11.2 16.1 11.8 6.5 8.4 6.1 3.8 3.9 6.5 5.4 3.0 1.2 2.8 __ -j 0 -.1 0 0 0 0 -.2 -.1 .1 0 0 0 0 0 -.1 0 -.2 0 .1 0 0 0 0 0 0 0 0 0 .1 4,474.5 4,466.6 4,594.5 4,748.9 4,928.1 907.3 829.5 899.8 977.9 1,107.0 575.7 613.2 651.0 672.7 732.8 632.2 629.0 670.8 731.8 819.4 1,387.3 1,403.4 1,410.0 1,398.8 1,400.1 -4.7 -7.3 -4.5 -3.9 -.9 1.8 &0 2.7 4.0 1.8 -.2 2.9 3.4 3.8 -3.1 -8.6 8.5 8.7 13.2 8.7 6.5 6.2 3.3 8.9 3.8 -.5 6.6 9.1 12.0 3.3 1.2 .5 -.8 .1 .1 -.3 -.3 .3 0 0 —3 -4 .4 0 0 0 0 0 0 0 -.3 -.2 .3 0 0 0 0 0 0 0 0 -.1 .1 0 5,075.6 5,237.5 5,417.3 5,681.8 1,140.6 1,242.7 1,385.8 1,547.4 808.2 874.2 983.1 1,004.6 886.6 963.1 1,095.2 1,222.2 1,406.4 1,421.9 1,453.7 1,478.8 -.4 0 .1 5.3 2.7 3.6 4.2 4.3 3.0 3.2 3.4 4.9 3.0 9.0 11.5 11.7 10.3 8.2 12.5 2.2 8.2 8.6 13.7 11.6 .5 1.1 2.2 1.7 0 -.1 _3 0 0 -.1 -.3 0 0 0 0 0 0 -.1 -.2 0 0 0 0 0 0 0 -.1 0 \\2 -13.0 -12.8 -17.0 4.2 2.2 10.2 4.3 -4.3 -4.6 12.8 85.1 28.2 25.0 ^33.9 28.6 5.5 5.0 26.0 -1.0 5.6 31.0 -1.2 12.5 -22 3 5.0 5.2 7.2 -2.4 2.7 2.9 39.3 22.2 -47.2 -41.0 23.6 13.5 2.7 -^34.3 -16.6 7.5 -1.2 -11.1 —.7 4.3 -.6 6.3 12.3 2.0 2.2 2.7 32.1 153.7 -3.6 27.7 -23.7 6.0 -24.2 -61.8 -71.6 -61.5 8.7 7.6 4.0 4.6 -.7 6.4 1.5 3.2 4.8 2.1 580.4 580.8 606.7 626.2 661.4 -47.3 -35.2 -43.0 -58.3 -51.8 7.1 2.0 2.0 -1.0 7.2 108.0 107.3 119.5 122.7 129.2 661.3 693.2 735.0 752.4 767.1 -All -55.0 -52.9 -49.7 -43.0 116.5 124.3 127.0 136.3 143.7 142.9 164.2 176.2 202.4 213.9 791.1 862.1 927.1 956.6 952.5 436.2 485.8 543.0 606.5 561.7 159.3 160.4 173.5 211.4 231.6 223.1 235.0 261.3 273.4 267.2 2,710.9 2,868.9 2,992.1 3,124.7 3,203.2 462.2 555.5 639.4 713.0 735.4 230.0 243.6 249.7 275.9 302.4 4,900.9 5,021.0 4,919.3 5,132.3 5,505.2 3,193.0 3,236.0 3,275.5 3,454.3 3,640.6 655.3 715.6 615.2 673.7 871.5 .... .... .... .... .... 5,717.1 5,912.4 6,113.3 6,368.4 6,591.8 3,820.9 3,981.2 4,113.4 4,279.5 4,393.7 1990 1991 1992 1993 1994 .... .... .... .... .... 6,707.9 6,676.4 6,880.0 7,062.6 7,347.7 1995 1996 1997 1998 .... .... .... .... 7,543.8 7,813.2 8,144.8 8,495.7 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. NOTE.—Users are cautioned that particularly for components for which relative prices are changing rapidly, the .4 0 c .1 .2 c 'g 4A use of chained-dollar estimates to calculate component shares or component contributions to real growth may be misleading, even just a few years from the base year. For accurate estimates of the contributions to percent changes in real GDP, use NIPA table 8.2. SURVEY OF CURRENT BUSINESS 16 • April 2000 Table 3.—-Chain-Type Price Indexes for Gross Domestic Product, Percent Change from Preceding Perioc1, and Revision to Percent Change Voar year Chain-type price indexes, 1996=100 Percent change from preceding period Revision to percent change from Preceding period2 PerGross sonal Exports Imports Gross private Gross conof of domesGovern- domestic domessump- tic ingoods goods ment1 tic purtion and and product vestchases expend- ment services services itures PerGross Exports Imports sonal Gross private Gross conof of domesGovern- domestic domessump- tic in- goods goods ment1 tic purtion and and product vestchases expend- ment services services itures PerGross Exports Imports sonal Gross Gross private conof of Govern- domestic domesdomessump- tic in- goods goods ment1 purtic tion and and chases vestproduct expend- ment services services itures 1929 .... 12.62 12.38 17.26 16.60 12.00 8.72 12.33 1930 1931 1932 1933 1934 .... .... .... .... .... 12.13 10.91 9.67 9.42 9.89 11.85 10.57 9.32 8.99 9.41 16.52 15.10 12.60 11.42 11.37 15.02 11.82 10.25 10.26 11.89 10.23 8.27 6.63 6.35 7.21 8.45 8.01 7.30 7.54 8.10 11.82 10.65 9.41 9.15 9.60 -5.9 -10.0 -11.4 -2.6 »4.3 -10.8 -11.8 -5.5 -4.3 -8.6 -16.6 -9.3 -9.5 -21.4 -13.2 4.9 4.6 -.4 15.9 1935 1936 1937 1938 1939 .... .... .... .... .... 10.07 10.19 10.56 10.35 10.21 9.63 9.72 10.07 9.84 9.75 11.19 11.30 12.16 11.76 11.67 12.18 12.55 13.30 12.68 12.46 7.33 7.85 8.76 8.09 8.49 8.13 8.41 8.56 8.57 8.38 9.77 9.90 10.28 10.07 9.96 1.9 1.2 3.6 2.4 .9 3.6 -1.6 2.4 3.0 6.0 -1.9 -1.4 -2.3 -1.0 -5.2 -.8 -4.6 -1.8 1940 1941 1942 1943 1944 .... .... .... .... .... 10.29 10.96 11.86 12.52 12.81 9.83 10.43 11.72 12.80 13.53 11.95 12.83 14.20 14.76 15.20 13.49 14.75 17.86 19.56 22.02 9.06 9.57 10.96 11.80 12.39 8.26 8.77 8.82 8.95 8.82 10.02 10.66 11.51 12.15 12.41 .8 6.5 8.2 5.5 2.3 .8 6.2 2.4 7.3 12.3 9.2 5.7 1945 1946 1947 1948 1949 .... .... .... .... .... 13.15 14.71 16.32 17.26 17.27 14.07 15.07 16.62 17.57 17.44 15.60 17.31 20.53 22.23 22.54 21.88 21.17 24.61 25.91 24.34 12.74 14.21 17.02 18.50 17.63 8.95 11.06 11.86 12.35 12.73 12.76 14.36 15.92 16.86 16.89 2.7 4.0 7.2 1950 1951 1952 1953 1954 .... .... .... .... .... 17.41 18.60 18.98 19.24 19.45 17.66 18.85 19.23 19.50 19.68 23.00 24.97 25.45 25.49 25.66 23.70 26.78 26.98 26.90 26.56 18.73 22.63 21.81 20.88 21.16 12.76 13.65 13.85 14.02 14.33 1955 1956 1957 1958 1959 .... .... .... .... .... 19.74 20.41 21.13 21.64 21.88 19.76 20.16 20.77 21.29 21.63 26.03 27.54 28.47 28.56 28.78 26.81 27.71 28.76 28.50 28.53 21.05 21.42 21.66 20.76 20.95 1960 1961 1962 1963 1964 .... .... .... .... .... 22.19 22.43 22.74 22.99 23.34 22.00 22.23 22.49 22.75 23.07 28.92 28.84 28.87 28.78 28.95 28.88 29.29 29.27 29.22 29.42 1965 1966 1967 1968 1969 .... .... .... .... .... 23.77 24.45 25.21 26.29 27.59 23.41 24.02 24.62 25.58 26.74 29.42 30.03 30.83 31.99 33.51 1970 1971 1972 1973 1974 .... .... .... .... .... 29.05 30.52 31.81 33.60 36.60 28.00 29.20 30.22 31.86 35.14 1975 1976 1977 1978 1979 .... .... .... .... .... 40.03 42.29 45.02 48.22 52.24 1980 1981 1982 1983 1984 .... .... .... .... .... 1985 1986 1987 1988 1989 0 0 0 0 0 0 0 0 .1 0 0 .1 .7 1.6 .1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -1 0 0 0 0 0 .1 0 0 .1 .1 0 0 0 0 0 0 0 0 0 0 .6 6.4 8.0 5.5 2.2 -.3 0 .2 -1 -.3 0 0 0 0 0 -.1 -.1 .1 0 0 0 0 0 0 0 0 0 0 0 0 1.4 2.8 23.6 12.5 10.9 0 0 0 0 0 0 0 1.6 -.1 -.1 0 0 0 0 0 0 0 0 0 0 -2.7 5.9 .2 .1 -.1 -.3 -.1 -.1 -.4 -.2 .1 -.1 -.3 -.1 0 .2 7.0 1.5 1.2 2.2 1.2 7.1 1.9 1.2 1.2 -.1 0 0 0 -.1 0 0 0 0 -.1 0 _3 -!i .3 -!i .1 0 0 0 0 0 0 0 0 0 -.3 .2 0 -.1 -.2 -.1 0 0 .1 -.1 4.3 5.7 4.4 3.0 0 1.4 3.4 3.4 2.3 1.1 0 -.1 .1 -.1 0 0 0 0 0 -.8 .2 -.3 0 0 0 0 0 0 0 0 0 .3 0 0 0 -.1 .1 0 1.2 1.9 2.6 2.4 2.8 1.4 1.1 1.3 1.2 1.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.7 4.1 4.2 5.6 6.0 1.8 2.8 2.9 4.3 4.9 0 -.1 0 0 .1 0 0 0 0 0 0 0 .1 0 0 0 0 0 8.0 7.8 7.5 7.4 5.4 5.2 4.5 5.8 10.2 0 0 0 0 0 0 -.2 -.2 -.1 .4 0 0 0 0 0 0 0 0 0 .1 0 10.0 0 -.3 -.2 -.1 .4 0 0 0 0 .1 -1 —3 -!i -.1 .4 0 0 0 0 .1 0 -.2 -.1 -.1 .4 9.2 5.7 6.8 7.2 8.8 .1 0 0 0 0 0 0 _3 ~!i .1 .2 0 0 0 0 -14.7 -19.2 -19.8 -4.2 13.6 -3.1 -5.1 -8.9 1.7 7.0 11.6 -7.6 .4 3.4 1.8 0 5.0 -2.2 8.3 9.3 6.7 5.6 -1.4 10.7 21.1 14.5 4.0 3.0 9.5 12.6 7.6 5.0 2.6 -.6 2.8 11.5 19.8 1.0 7.5 .1 3.2 7.5 6.2 .6 1.4 -1.4 -4.2 -9.9 -11.6 -2.7 4.9 1.8 1.3 3.8 -2.0 -1.1 11.8 11.0 10.3 11.0 18.6 -5.2 16.2 5.8 0 5.7 -.7 8.3 1.4 5.3 8.7 -6.1 -4.7 17.10 18.31 18.65 18.87 19.10 .8 6.8 2.1 1.3 1.1 1.3 6.7 2.0 1.4 .9 2.1 8.6 1.9 .2 .7 -1.3 14.95 15.79 16.49 16.99 16.99 19.37 20.02 20.70 21.18 21.41 1.5 3.4 3.5 2.4 1.1 .4 2.0 3.0 2.5 1.6 1.4 5.8 3.4 .3 .8 .9 3.4 3.8 -.9 .1 21.15 21.15 20.90 21.30 21.75 17.19 17.51 17.97 18.39 18.90 21.71 21.94 22.23 22.50 22.85 1.4 1.1 1.4 1.1 1.5 1.7 1.1 1.2 1.2 1.4 .5 -.3 .1 -.3 .6 1.2 1.4 -.1 -.2 .7 30.38 31.32 32.56 33.23 34.29 22.06 22.57 22.66 23.00 23.60 19.41 20.20 21,05 22.23 23.56 23.26 23.91 24.61 25.66 26.92 1.9 2.8 3.1 4.3 4.9 1.5 2.6 2.5 1.6 2.1 2.7 1.4 2.3 .4 3.9 3.8 3.3 3.1 3.9 2.1 3.2 34.93 36.69 38.24 40.31 44.33 35.77 36.98 38.17 43.40 53.68 25.00 26.53 28.40 33.34 47.70 25.44 27.44 29.49 31.67 34.83 28.37 29.84 31.17 32.99 36.35 5.3 5.0 4.2 5.6 9.0 4.3 3.4 3.2 5.9 6.1 7.0 10.3 10.0 13.7 23.7 17.4 43.1 38.01 40.08 42.73 45.78 49.83 49.80 52.57 56.51 61.15 66.71 59.24 61.11 63.58 67.48 75.63 51.67 53.22 57.92 62.01 72.62 38.28 . 40.72 43.55 46.37 50.28 39.69 41.93 44.80 48.02 52.26 9.4 5.7 6.4 7.1 8.3 8.2 5.4 6.6 7.1 8.9 12.3 10.3 5.6 7.5 8.2 9.1 3.2 4.0 6.1 8.3 3.0 8.8 7.1 12.1 17.1 9.9 6.4 7.0 6.5 8.4 57.05 62.37 66.26 68.87 71.44 55.21 60.08 63.48 66.19 68.63 73.01 79.77 83.91 83.73 84.40 83.32 89.41 89.83 90.24 91.13 90.45 95.32 92.10 88.65 87.89 55.80 61.30 65.43 68.08 71.61 57.79 63.05 66.71 69.05 71.46 9.2 9.3 6.2 3.9 3.7 10.8 9.5 9.3 5.2 10.2 24.6 11.0 10.6 7.3 .5 .5 1.0 5.4 9.8 6.7 4.0 5.2 9.1 5.8 3.5 3.5 .1 -.3 -.1 .2 .2 3 0 .1 —2 0 .... .... .... .... .... 73.69 75.32 77.58 80.22 83.27 70.99 72.72 75.49 78.44 81.86 85.30 87.19 88.86 90.96 93.22 88.70 87.33 89.62 94.39 96.15 85.02 85.01 90.02 94.46 96.87 73.78 75.08 77.21 79.30 81.89 73.56 75.22 77.70 80.36 83.45 3.2 2.2 3.0 3.4 3.8 3.5 2.4 3.8 3.9 4.4 1.1 2.2 1.9 2.4 2.5 -2.7 -1.5 3.0 1.8 2.8 2.7 3.3 2.9 2.3 3.3 3.4 3.8 .1 0 .1 0 -.1 1990 1991 1992 1993 1994 .... .... .... .... .... 86.53 89.66 91.85 94.05 96.01 85.63 88.91 91.62 93.81 95.70 95.08 96.46 96.32 97.70 99.11 96.79 98.10 97.82 97.82 98.94 99.43 98.93 99.09 98.18 99.12 85.16 88.04 90.11 92.44 94.84 86.85 89.81 92.03 94.14 96.06 3.9 3.6 2.4 2.4 2.1 4.6 3.8 3.1 2.4 2.0 2.0 1.5 -.1 1.4 1.4 .7 1.4 -.3 0 1.1 4.0 3.4 2.4 2.6 2.6 4.1 3.4 2.5 2.3 2.0 0 .2 .2 -.3 0 1995 1996 1997 1998 .... .... .... .... 98.10 100.00 101.91 103.11 97.90 100.00 101.98 102.93 100.29 100.00 99.84 98.96 101.29 100.00 98.47 96.19 101.83 100.00 96.45 91.31 97.56 100.00 101.87 103.44 98.20 100.00 101.61 102.35 2.2 1.9 1.9 1.2 2.3 2.1 2.0 .9 1.2 2.4 2.7 -2 -1.3 -1.5 -2.3 -1.8 -5.6 -5.3 2.9 25 i!9 1.5 2.2 1.8 1.6 .7 .1 .1 .2 0 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. 4.5 4.7 4.3 3.5 5.4 8.8 5.7 4.3 3.7 4.8 4.2 5.0 4.2 5.4 —.c .8 _c -2.6 13.0 .7 -.3 2.6 5.3 .1.9 6.2 20.9 -5.6 ^.3 1.4 -.5 1.8 1.1 -4.2 .9 .9 0 -1.2 1.9 2.1 1 5 2^6 -3.4 -5.7 -.£ -3.3 0 5.9 4.9 2.5 2.6 _ C r ,C _C i".o 7.2 4.2 3.1 —,c 2 r .0 .4 0 in -.2 0 .1 0 .1 0 0 0 A 6 .1 .1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 r -1 0 0 .1 .1 0 0 0 —.3 -.1 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -.1 .2 .1 0 0 0 .1 .1 .1 0 0 0 0 0 0 -.1 -.2 -.4 -2.2 .5 .9 -.1 -.6 .2 -.5 —.£ -.1 -.1 0 -.1 0 .1 .1 r .C 0 0 -.1 0 0 .1 0 0 0 0 .1 .1 -.1 -.4 .1 .2 -.1 -.3 .1 -.3 -.1 .2 .2 .3 0 .1 -.1 0 0 .1 .1 0 -.1 0 0 .2 .3 -.2 -.1 .1 0 .1 0 0 .1 .2 0 April 2000 SURVEY OF CURRENT BUSINESS 17 Fixed Assets and Consumer Durable Goods •Estimates for 1925-98 •New NIPA Table—Changes in Net Stock of Produced Assets By Shelby W. Herman fjl S part of the comprehensive revision of the syJL national income and product accounts (NIPA's), the Bureau of Economic Analysis (BEA) has released new estimates of fixed assets and consumer durable goods (formerly "fixed reproducible tangible wealth") for 1998 and revised estimates for 1925-97. These estimates cover the net stock of equipment and software and of structures owned by business and government and the net stock of durable goods owned by consumers. In addition, as part of the changes to the presentation of the NIPA tables, BEA is introducing a new table that shows the changes in the net stock of produced assets (fixed assets and change in private inventories).1 This table improves the consistency of the NIPA's with international guidelines and is part of BEA's long-term effort to integrate the estimates of stocks and flows.2 The revised estimates incorporate the revised estimates of new investment, of sales of used assets between sectors, and of prices that were 1. The net stock of consumer durable goods is not included in this table, because the NIPA's do not currently recognize household expenditures as investment. Estimates of government inventories are not available. 2. For detailed information on the international guidelines for national accounts, see Commission of the European Communities, International Monetary Fund, Organisation for Economic Cooperation and Development, United Nations, and the World Bank, System of National Accounts 1993 (Brussels/Luxembourg, New York, Paris, and Washington, DC, 1993). Table A.—Net Stocks of Fixed Assets and Consumer Durable Goods: Average Annual Rates of Change Over Selected Periods [Percent] 1925-98 1925-47 1947-73 1973-92 1992-98 Current cost Fixed assets and consumer durable goods Private ; Nonresidential Equipment and software Structures Residential Government Federal State and local . . Consumer durable goods 6.3 6.2 6.1 6.9 5.7 . . . , 4.7 3.9 3.4 3.9 3.3 6.8 6.9 6.9 8.4 6.3 8.1 8.3 8.4 9.0 8.1 5.1 5.4 5.2 5.5 4.9 6.4 4.5 6.8 8.2 5.7 6.9 7.1 6.9 6.1 8.2 12.5 5.5 3.4 6.3 4.3 8.0 7.5 7.1 6.4 7.5 8.2 4.7 2.7 5.4 3.8 released earlier as part of the comprehensive revision. For privately owned assets, investment by type of asset was distributed by industry primarily through the use of data from BEA's benchmark input-output accounts for 1982, 1987, and 1992 and from the 1987 and 1992 Economic Censuses.3 Investment flows were modified to account for sales of used assets between sectors of the economy. Estimates of the net stock of fixed assets and consumer durable goods are presented in two valuations: Current cost and real cost, which is measured in terms of chain-type quantity indexes. Current-cost valuation includes the effects of both price changes and changes in the physical volume of assets, while the chain-type measures reflect only changes in physical volume, or real changes.4 For 1925-98, the net stock grew at average annual rates of 6.3 percent at current cost and 2.9 percent at real cost (table A). The period of fastest growth for the real-cost measure was 1947-73, when the net stock rose at an average rate of 3.7 percent a year. Growth since 1973 has been slower; the net stock rose at an average rate of 2.8 percent a year in 1973-92 and 2.6 percent a year in 1992-98. In 1992-98, all but one of the components grew more slowly than in 1973-92; the exception was nonresidential equipment and software, which rose at an average rate of 5.1 percent in 1992-98, compared with 3.9 percent in 1973-92. New NIPA table of changes in net stock of produced assets The new NIPA table 5.16, which is introduced on page 80 of this issue, provides for the first time an integrated analysis of the changes in the net stock of produced assets from opening balance to closing balance. The table fully accounts for changes in the net stock of produced assets by showing how investment, depreciation, and disaster losses Real cost Fixed assets and consumer durable goods Private Nonresidential . Equipment and software Structures Residential Government Federal State and local , Consumer durable goods .. . . . . . . . . 2.9 25 2.5 3.9 1.9 2.5 3.5 3.8 2.1 10 .8 2.0 .5 1.2 6.4 11.2 3.7 36 3.5 5.3 2.7 3.7 2.8 .7 2.8 28 3.0 3.9 2.5 2.5 1.9 12 2.6 26 2.9 5.1 1.6 2.3 1.7 .1 3.4 4.3 3.3 1.9 4.5 6.2 2.3 4.7 2.3 4.1 3. For the methods used to derive net stocks, see U.S. Department of Commerce, Bureau of Economic Analysis, Fixed Reproducible Tangible Wealth in the United States, 1925-94 (Washington, DC: U.S. Government Printing Office, August 1999): M-l-M-36. 4. For a discussion of chain-type measures, see J. Steven Landefeld and Robert P. Parker, "BEA's Chain Indexes, Time Series, and Measures of Long-Term Economic Growth," SURVEY OF CURRENT BUSINESS 77 (May 1997): 58-68. 28 • April 2000 SURVEY OF CURRENT BUSINESS affect the stock and how its value is affected by nominal and real holding gains. In the table, the sources of change consist of the following: Gross fixed investment, which consists of expenditures for assets that will be used in the production process for more than 1 year; stock reconciliation adjustments, which are deducted from gross investment for differences in timing and in the treatment of margins and brokers' commissions on used assets; "consumption of fixed capital, except disaster losses/' which is the charge for using up of private and government capital in production; change in private inventories, which is the change in the physical volume of goods purchased by private business for use in the production of other commodities or for resale; "other changes in volume of assets/' which consists of damages from disasters and war losses; and nominal holding gains or losses (or revaluation), which is the change in the value of assets that results from changes in the price level. The table shows the effect of each of these sources on the annual change in net stock (that is, the difference between the opening balance and the closing balance) of produced assets valued at current cost. In 1998, the opening balance of produced assets was $23.8 trillion, and the closing balance was $25.1 trillion, a change of $1.3 trillion; the table below traces the steps for going from the opening balance to the closing balance for 1998. Trillions of dollars Opening balance + Gross fixed investment Stock reconciliation adjustments Consumption of fixed capital + Change in private inventories Other changes in volume of assets + Nominal holding gains or losses () = Closing balance $23.8 $1.7 $0 $1.1 $.1 $0 $.6 $25.1 The following describes each of the sections of table 5.16. The first section of the table (lines 1-5) presents the opening balance of produced assets valued at current cost for the beginning of the period. The second section (lines 6-27) presents the investment flows that contribute to the accumulation of produced assets during the year. Private and government gross fixed investment in structures and in equipment and software are shown (lines 6-14). Stock reconciliation adjustments to NIPA investment are subtracted (lines 15-17). These adjustments are needed because some types of investment expenditures enter the stock with a delay or do not add to stock of assets. The components of the stock reconciliation adjustments to NIPA investment, which are shown in the table in the addenda (lines 49-53), consist of the following: (1) An intersectoral auto valuation adjustment (line 49). Gross fixed investment includes investment in new assets, plus brokers' commissions on sale of structures and dealers1 margin on purchases of used equipment, less the net sales of used assets. In gross private fixed investment, net sales of used autos are valued at wholesale and do not reflect dealers' margins, but in the estimates of net stocks, these sales are valued at the original acquisition price less accumulated depreciation. An adjustment equal to the difference in prices is deducted; without this adjustment, the dealers' margins on sales of used autos would be included in the net stock of assets. (2) Brokers' commissions on used nonresidential structures and dealers' margins on used equipment (line 50). These commissions and margins are included in NIPA fixed investment because they are expenditures for fixed assets that will be used in a production process for more than 1 year. However, these commissions and margins are not treated as fixed assets and are not included in the estimates of net stocks. (3) The difference between the value of electric-power-plant construction put in place, which is the concept used in estimating NIPA investment, and the value of electric-power-plant investment put in use, which is when the assets enter the net stock estimates (line 51). "Consumption of fixed capital (CFC), except for disaster losses" is subtracted (lines 18-26). In the NIPA's, CFC consists of charges for wear and tear, obsolescence, accidental damage, and aging; for private fixed assets and for fixed assets of government enterprises, CFC also includes the value of the damages incurred from natural and other disasters. In table 5.16, these two types of CFC are shown separately: "CFC, except disasters" is shown under "accumulation of produced assets" (lines 18-26) and disaster losses are shown under "other changes in volume of assets " (lines 29 and 32). In the NIPA's, CFC for assets of general government does not include disaster damage and war losses; the value of these losses is shown in the section "other changes in volume of assets" (line 31).5 5. These damages and losses are not included in NIPA depreciation, because general government consumption expenditures is measured by adding up costs, including depreciation. Excluding these losses avoids increasing the measured output of general government fixed assets in GDP when there is war or disaster damage. SURVEY OF CURRENT BUSINESS price index. If an asset price increases more than the general price index, there will be a real holding gain; if it increases less, there will be a real holding loss. Since 1992, there have been real holding gains, as prices of structures have risen faster than the general price level and have more than offset real holding losses for equipment and software and for private inventories. For 1951-98 (the period for which estimates are available), there were real holding gains for 27 years and real holding losses for 21 years. The fifth section (lines 44-48) presents the closing balance, that is, the current-cost value at the end of the year for produced assets. The change in private inventories (line 27) is added to obtain the net accumulation of produced assets. The third section (lines 28-32) shows the deductions of "other changes in volume of assets." For private assets, as noted above, the deductions consist of the value of damage from natural and other disasters. For government assets, the "other changes in volume of assets" includes war losses and the value of damage from natural and other disasters. The fourth section (lines 33-43) shows the revaluation, that is, the effects of price changes. In addition to changes in the stock that result from investment, CFC, and "other changes in volume of assets," the current-cost net stock can change because of price changes. These changes in value resulting from price changes are called nominal holding gains or losses. Nominal holding gains or losses can be decomposed into two parts: Neutral holding gains or losses and real holding gains or losses. Neutral gains or losses (lines 34-38) represent the change in value of assets due to changes in the general price level. The term "neutral holding gains or losses" is used because all assets are revalued in exactly the same proportion. In this table, the measure of the general price level is the price index for gross domestic purchases.0 Neutral holding gains were positive for all years, reflecting increases in the current-cost net stock of produced assets that have resulted from increases in the general price index. Real holding gains or losses (lines 40-43) reflect the impact of changes in the prices of individual assets relative to the change in the general Recognition of software as investment.—In the NIPA's, business and government expenditures for software are now recognized as fixed investment.7 The investment flows are now capitalized and included in the net stocks of private and government fixed assets. Software investment has three components—prepackaged software, custom software, and own^account software. Prepackaged software has an average service life of 3 years and is depreciated geometrically at a rate of 0.55 per year; custom and own-account software have average service lives of 5 years and are depreciated geometrically at a rate of 0.33 per year. In tables 1 and 2, software is included in all the components except private nonresidential structures and residential. For 1996, the inclusion of soft- 6. The year-over-year price change for existing produced assets is measured for the period from yearend t-1 to yearend t. The price change for investment, change in private inventories, CFC, and the "other changes in volume of assets" is measured for the half-years from the middle of year t to the end of year t. 7. For information on the new treatment of software in the NIPA's, see Brent R. Moulton, Robert P. Parker, and Eugene P. Seskin, "A Preview of Comprehensive Revision of the National Income and Product Accounts : Definitional and Classificational Changes," SURVEY 79 (August 1999): 7-20. Definitional and statistical improvements The estimates of the net stock of fixed assets and consumer durable goods incorporate the following major definitional and statistical improvements. Data Availability The historical estimates for the tables at the end of this article will be available from BEA's Web site at <www.bea.doc.gov> and from STAT-USA's Web site at <www.stat-usa.gov>. The industry estimates (tables 5 and 6) will begin with 1947; the estimates in the other tables will begin with 1925. The availability of these estimates will be announced on the inside back cover of the SURVEY OF CURRENT BUSINESS. Additional estimates will be available in June 2000. These include estimates of depreciation using current-cost valuation and chain-type quantity indexes for the data on the tables in this article; additional estimates of net stocks and depreciation for private assets by industry and legal form and for government assets by type of equipment and structure; and private net stocks and depreciation at historical cost by industry, asset, and legal form. The investment data used to derive these estimates and the average ages will be available in the early fall. In early 2001, BEA will publish Fixed Assets and Consumer Durable Goods in the United States, 1925-97, which will include revisions to the estimates for 1997 from this year's annual revision. A CD-ROM will also be available that will contain these estimates-and the underlying detail, including fixed-cost data used to prepare the current-cost valuations. The availability of the volume and the CD-ROM will be announced in the SURVEY. April 2000 • 19 20 • April 2ooo SURVEY OF CURRENT BUSINESS ware as a fixed asset added about $174 billion to the net stock of private fixed assets and about $56 billion to the net stock of government fixed assets. Depreciation pattern for personal computers.—The method for estimating the net stock of personal computers (PC's) has been changed. The depreciation of PC's is now based on a California study of fair-market values of personal property including PC's.8 The new estimates are based on a geometric pattern of depreciation that by the fifth year, results in a residual value for a PC of less than 10 percent of its original value. In the previously published estimates, the depreciation pattern for PC's was based on work by Stephen Oliner of the Federal Reserve Board that included a general depreciation schedule for computers, but not for PC's.9 The new method is consistent with the general procedure for calculating depreciation that was adopted in the 1996 comprehensive NIPA revision; assets are now depreciated using empirical evidence on used-asset prices and geometric patterns of price declines.10 For 1996, the use of the new method reduced the private net stock of PC's by nearly $30 billion. New service life for highways.—On the basis of two recent studies of highway capital, the service life for highways and streets has been reduced from 60 years to 45 years.11 As a result, the net stock of 8.. As a result of an earlier application of this methodology, the California State Board of Equalisation recommended depreciation schedules for computers that were widely adopted in California and in several other western States. For further details, see Richard N. Lane, "Appraisal Report 'Large Aerospace Firm' Personal Property, Los Angeles County, March 1,1995," (revised Februa r y ^ 1999). 9. See Stephen D. Oliner, "Price Change, Depreciation and Retirement of Mainframe Computers," in Price Measurements and Their Uses, Studies in Income and Wealth, vol. 57, edited by Murray F. Foss, Marilyn E. Manser, and Allan H. Young (Chicago: University of Chicago Press, for the National Bureau of Economic Research, 1993): 19-61. 10. For a discussion of these improvements, see Arnold J. Katz and Shelby Herman, "Improved Estimates of Fixed Reproducible Tangible Wealth, 1929-95," SURVEY 77 (May 1997): 69-89. The basis for BEA's improved methodology is described in Barbara M. Fraumeni, "The Measurement of Depreciation in the U.S. National Income and Product Accounts," SURVEY 77 (July 1997): 7-23. Acknowledgments The estimates of fixed assets and consumer durable goods were prepared by the National Income and Wealth Division and the Government Division. The estimates of private fixed assets and consumer durable goods were prepared under the direction of Shelby W. Herman, assisted by Kurt Kunze, Michael D. Glenn, Dennis R. Weikel, and Phyllistine M. Barnes. The estimates of government fixed assets were prepared under the direction of D. Timothy Dobbs, assisted by Jennifer A. Bennett and Charles S. Robinson. Duane G. Hackmann prepared the tables for typesetting. Overall supervision was provided by Brent R. Moulton, Associate Director for National Income, Expenditure, and Wealth Accounts, and by Karl D. Galbraith, Chief of the Government Division. government fixed assets for 1996 was reduced by about $140 billion. Consistent estimates of intersectoral sales of used assets.—Previously, the NIPA estimates and the wealth estimates were not always consistent in their treatment of sales of used assets between government and private owners. As a step in integrating the estimation of asset stocks and investment flows for table 5.16 described above, the revised estimates of these sales between sectors have been made consistent. As a result, the distribution of fixed assets by type of owner was revised, but the total stock of private and government fixed assets was not affected. Presentation of revised estimates Tables 1-15 present the revised estimates of fixed assets and consumer durable goods. The odd-numbered tables except table 15 present current-cost estimates; the even-numbered tables present real-cost measures in terms of chain-type quantity indexes. Tables 1 and 2 present estimates of the net stock of fixed assets and consumer durables. Tables 3 and 4 present the net stock of private fixed assets by type of asset; these tables have been redesigned to reflect the improvements made to the NIPA tables 5.4-5.9 (private fixed investment) as part of the NIPA comprehensive revision and include new lines for software.12 Tables 5 and 6 present the net stock of private fixed assets by industry; these tables now present residential and nonresidential assets as components within the farm and real estate industries, rather than as separate aggregates. Tables 7 and 8 present the net stock of private nonresidential fixed assets by selected industry group and legal form of organization. Tables 9 and 10 present the net stock of residential fixed assets by type of owner, legal form of organization, and tenure group. Tables 11 and 12 present the net stock of government fixed assets and include new lines for total Federal structures. Tables 13 and 14 present the net stock of consumer durable goods; these tables reflect the changes made to NIPA tables 2.6-2.7 (personal consumption expenditures) as part of the NIPA comprehensive revision. Table 15 presents estimates in chained (1996) dollars for the net stock of fixed assets and consumer durable goods. Tables 1-15 follow. [—a 11. For information on the service life of highways, see Richard Beemiller, "Experimental Estimates of State and Local Government Highway Capital Stocks" (paper presented at the 1999 annual meeting of the Southern Regional Science Association, Richmond, VA, April 1999); and Barbara M. Fraumeni, Productive Highway Capital Stock Measures, a report prepared for the Federal Highway Administration, U.S. Department of Transportation, January 1999. 12. See Brent R. Moulton and David F. Sullivan , "A Preview of Comprehensive Revision of the National Income and Product Accounts: New and Redesigned Tables," SURVEY 79 (September 1999 ): 15-20. April 2000 • SURVEY OF CURRENT BUSINESS 21 Table 1.—Current-Cost Net Stock of Fixed Assets and Consumer Durable Goods, 1925-98 Table 2.—Chain-Type Quantity Indexes for Net Stock of Fixed Assets and Consumer Durable Goods, 1925-98 [Billions of dollars; yearend estimates] [Index numbers, 1996=100; yearend estimates] Government fixed assets Private fixed assets Nonresidential Year Total Total Total Equipment Strucand tures software Residential Total Federal 9.2 9.0 8.7 8.5 7.9 7.5 6.8 6.7 7.6 8.6 9.9 State and local Private fixed assets Consumer durable goods Government fixed assets Con- Nonresidential Year Total Total Total Equipment and software Structures Residential Total Federal State and local sumer durable goods 28.9 29.9 31.0 32.1 32.7 32.0 33.5 34.6 35.7 36.5 1925 1926 1927 1928 1929 ... ... ... ... ... 13.41 13.95 14.44 14.91 15.42 17.39 18.05 18.64 19.18 19.69 17.46 18.04 18.55 19.02 19.63 6.92 7.24 7.44 7.61 7.94 26.60 27.39 28.17 28.89 29.71 17.23 17.98 18.67 19.29 19.69 8.24 8.56 8.94 9.36 9.91 6.34 6.24 6.16 6.10 6.08 9.46 9.98 10.61 11.27 12.12 5.08 5.36 5.60 5.83 6.16 32.0 29.1 28.8 34.0 37.0 34.4 30.1 26.5 25.8 25.7 1930 1931 1932 1933 1934 ... ... ... ... ... 15.70 15.77 15.63 15.44 15.39 19.94 19.92 19.66 19.36 19.17 19.97 19.87 19.47 19.02 18.73 8.01 7.77 7.29 6.86 6.63 30.30 30.39 30.20 29.84 29.55 19.83 19.90 19.81 19.70 19.64 10.47 11.05 11.52 11.84 12.26 6.12 6.25 6.46 6.86 7.42 12.95 13.78 14.39 14.67 15.04 6.27 6.19 5.92 5.66 5.50 11.4 12.6 13.4 14.0 38.6 42.6 44.4 45.7 47.4 25.7 27.1 28.7 28.5 29.5 1935 1936 1937 1938 1939 ... ... ... ... ... 15.43 15.67 15.96 16.11 16.38 19.09 19.18 19.36 19.37 19.50 18.58 18.65 18.89 18.81 18.82 6.59 6.79 7.11 7.07 7.12 29.30 29.20 29.28 29.19 29.13 19.66 19.75 19.87 19.99 20.26 12.71 13.44 14.05 14.74 15.53 8.19 8.92 9.59 10.22 10.79 15.36 16.13 16.73 17.47 18.38 5.47 5.62 5.82 5.84 6.02 67.4 84.4 118.0 150.9 173.5 15.7 24.4 50.9 82.7 106.8 51.7 60.0 67.1 68.2 66.7 32.3 37.2 41.6 45.2 47.2 1940 1941 1942 1943 1944 ... „• ... ... ... 16.73 17.37 18.36 19.47 20.38 19.73 20.09 20.04 19.89 19.86 18.95 19.29 19.15 18.92 18.92 7.39 7.83 7.74 7.61 7.80 29.07 29.21 29.03 28.73 28.53 20.60 20.97 21.04 20.99 20.92 16.24 18.17 23.37 29.80 35.13 11.68 17.04 34.16 56.57 75.59 19.04 19.40 19.44 19.27 19.06 6.32 6.54 6.49 6.32 6.11 190.3 224.7 265.8 290.8 307.4 186.7 194.2 214.7 214.2 199.6 117.4 116.6 121.7 113.0 103.0 69.2 77.6 93.0 101.2 96.6 47.9 55.6 66.9 76.5 85.5 1945 1946 1947 1948 1949 ... ... ... ... ... 20.77 20.91 21.29 21.80 22.40 19.99 20.63 21.46 22.40 23.15 19.23 19.93 20.80 21.71 22.35 8.41 9.29 10.63 11.89 12.67 28.49 28.98 29.37 29.91 30.41 20.86 21.42 22.23 23.20 24.07 37.00 34.41 32.21 30.54 30.02 82.61 73.38 64.95 58.01 54.49 18.90 18.91 19.14 19.51 20.16 6.04 6.70 7.63 8.50 9.37 235.1 257.6 270.9 278.2 285.5 339.5 370.0 390.0 406.2 427.2 211.7 236.9 254.1 259.7 275.4 102.7 114.3 124.2 131.1 141.2 109.0 122.6 129.9 128.6 134.3 101.0 113.1 120.0 128.3 132.1 1950 1951 1952 1953 1954 ... ... ... ... ... 23.30 24.27 25.11 26.14 27.16 24.16 25.04 25.85 26.73 27.60 23.12 23.89 24.57 25.36 26.04 13.56 14.39 15.08 15.87 16.41 31.03 31.71 32.35 33.10 33.90 25.34 26.33 27.29 28.26 29.34 29.63 30.81 32.40 34.12 35.59 51.11 53.23 56.84 60.64 62.91 20.93 21.73 22.53 23.43 24.57 10.69 11.56 11.74 12.44 13.32 142.2 158.8 172.8 179.7 188.7 306.2 335.7 353.6 363.5 376.3 457.2 481.6 496.3 512.0 534.5 296.5 328.9 343.0 361.6 372.2 147.4 159.8 165.9 172.3 176.5 149.1 169.1 177.1 189.3 195.7 141.6 152.6 162.0 165.6 171.5 1955 1956 1957 1958 1959 ... ... ... ... ... 28.33 29.41 30.37 31.16 32.21 28.66 29.69 30.65 31.41 32.42 26.92 27.86 28.78 29.33 30.04 17.21 17.99 18.76 19.00 19.49 34.80 35.86 36.88 37.70 38.57 30.62 31.74 32.75 33.76 35.12 36.82 38.01 39.22 40.65 42.32 64.06 65.04 65.84 67.01 69.03 25.83 27.10 28.47 30.00 31.55 14.55 15.46 16.03 16.22 16.70 575.9 591.4 611.5 632.8 668.4 194.8 199.0 206.5 215.7 228.5 381.0 392.4 405.1 417.1 439.9 555.6 576.0 597.5 612.7 661.9 385.5 404.9 431.3 452.8 474.7 180.5 187.6 198.7 204.7 210.0 205.0 217.3 232.6 248.1 264.7 176.8 179.9 186.2 196.5 207.0 1960 1961 1962 1963 1964 ... ... ... ... ... 33.24 34.24 35.43 36.75 38.23 33.41 34.36 35.47 36.71 38.13 30.85 31.60 32.51 33.49 34.73 20.06 20.51 21.21 22.06 23.20 39.57 40.57 41.63 42.68 43.94 36.33 37.53 38.87 40.42 42.06 43.82 45.57 47.41 49.18 50.96 70.46 72.41 74.61 76.11 77.30 33.08 34.75 36.47 38.36 40.40 17.24 17.56 18.25 19.17 20.30 2,141.8 2,324.0 2,501.8 2,748.4 2,998.6 1,418.1 714.5 1,538.7 778.0 1,649.2 838.1 1,815.7 918.6 1,973.7 1,013.2 246.0 273.8 300.8 332.5 368.2 468.5 504.2 537.2 586.1 645.0 703.6 760.7 811.1 897.1 960.5 505.0 546.3 591.3 642.3 707.8 216.9 228.1 243.5 256.2 271.7 288.1 318.2 347.7 386.1 436.1 218.6 239.0 261.4 290.4 317.1 1965 1966 1967 1968 1969 ... ... ... ... ... 39.92 41.72 43.39 45.19 46.96 39.76 41143 42.94 44.58 46.32 36.42 38.37 40.11 41.90 43.84 24.88 26.97 28.76 30.64 32.72 45.54 47.24 48.85 50.47 52.20 43.60 44.92 46.14 47.61 49.12 52.75 54.81 56.98 58.95 60.63 78.13 79.54 80.97 81.45 81.43 42.59 44.92 47.41 49.99 52.35 21.86 23.61 25.16 27.08 28.81 ... ... ... ... ... 3,258.8 3,586.8 3,946.4 4,456.4 5,276.0 2,129.6 2,366.4 2,613.5 2,968.2 3,489.4 1,113.9 1,225.6 1,334.6 1,500.4 1,821.7 404.6 709.3 434.5 791.1 468.4 866.2 525.2 975.1 648.8 1,172.9 1,015.7 788.6 1,140.8 858.0 1,278.9 940.3 1,467.8 1,054.0 1,667.7 1,286.5 290.9 308.6 338.2 363.9 411.4 497.6 549.4 602.1 690.2 875.2 340.6 362.4 392.5 434.2 500.0 1970 1971 1972 1973 1974 ... ... ... ... ... 48.46 50.07 51.99 54.10 55.80 47.88 49.60 51.64 53.93 55.81 45.57 47.14 48.97 51.29 53.43 34.43 35.93 37.97 40.88 43.60 53.88 55.47 57.08 58.90 60.57 50.47 52.36 54.64 56.90 58.47 62.00 63.07 64.27 65.28 66.37 81.03 79.90 79.68 78.87 78.37 54.44 56.37 58.15 59.89 61.59 30.02 31.64 33.79 36.38 37.97 1975 1976 1977 1978 1979 ... ... ... ... ... 5,717.5 6,235.8 6,969.6 7,877.5 9,064.2 3,815.2 4,207.5 4,787.4 5,473.0 6,339.9 2,010.1 2,204.0 2,449.0 2,772.7 3,202.6 740.5 818.9 920.3 1,048.0 1,220.9 1,269.6 1,385.1 1,528.7 1,724.8 1,981.7 1,805.1 2,003.4 2,338.5 2,700.2 3,137.3 1,352.2 1,426.0 1,513.8 1,650.4 1,877.0 436.5 915.7 470.4 955.6 493.2 1,020.6 528.4 1,122.0 586.7 1,290.2 550.1 602.3 668.4 754.1 847.3 1975 1976 1977 1978 1979 ... ... ... ... ... 57.12 58.69 60.61 62.84 65.09 57.16 58.76 60.82 63.24 65.74 54.89 56.40 58.31 60.75 63.48 45.23 47.02 49.60 53.00 56.64 61.87 63.16 64.52 66.19 68.23 59.69 61.38 63.61 66.01 68.24 67.50 68.56 69.48 70.59 71.87 78.18 78.00 77.89 77.91 78.24 63.22 64.76 66.10 67.67 69.34 39.36 41.49 44.07 46.77 49.04 1980 1981 1982 1983 1984 ... ... ... ... ... 10,297.3 11,324.8 11,931.8 12,349.8 13,033.9 7,212.7 7,949.7 8,376.1 8,667.6 9,163.5 3,675.9 4,145.8 4,402.7 4,532.8 4,794.6 1,420.1 1,575.6 1,665.7 1,724.2 1,814.4 2,255.8 2,570.2 2,737.0 2,808.5 2,980.2 3,536.8 3,804.0 3,973.4 4,134.8 4,368.9 2,150.7 2,371.3 2,508.5 2,567.2 2,668.6 652.7 709.1 752.5 791.3 826.5 1,497.9 1,662.2 1,756.0 1,775.9 1,842.1 934.0 1,003.7 1,047.2 1,115.1 1,201.9 1980 1981 1982 1983 1984 ... ... ... ... ... 66.85 68.54 69.87 71.56 73.88 67.73 69.67 71.10 72.75 75.07 65.92 68.46 70.41 72.10 74.69 59.33 61.85 63.24 64.80 67.71 70.46 73.00 75.35 77.12 79.48 69.75 71.03 71.86 73.47 75.48 73.19 74.34 75.37 76.53 78.01 78.75 79.53 80.43 81.83 83.60 70.97 72.27 73.34 74.41 75.77 50.09 51.20 52.43 55.18 58.87 1985 1986 1987 1988 1989 .. ... ... ... ... 13,731.3 14,635.5 15,493.9 16,464.7 17,404.4 9,657.8 10,266.6 10,857.3 11,540.9 12,197.2 5,056.4 5,298.8 5,574.0 5,934.8 6,285.1 1,920.6 2,035.1 2,130.6 2,264.9 2,400.2 3,135.8 3,263.7 3,443.4 3,669.9 3,884.8 4,601.3 4,967.8 5,283.3 5,606.1 5,912.2 2,782.1 855.6 2,948.6 895.5 3,102.6 929.5 3,262.2 985.9 3,438.7 1,039.5 1,926.5 2,053.1 2,173.2 2,276.3 2,399.3 1,291.5 1,420.3 1,534.0 1,661.6 1,768.5 1985 1986 1987 1988 1989 ... ... ... ... ... 76.38 78.94 81.33 83.71 86.00 77.48 79.80 81.94 84.09 86.21 77.48 79.73 81.67 83.71 85.81 70.54 72.94 74.71 76.88 79.24 82.23 84.36 86.42 88.36 90.28 77.48 79.86 82.22 84.50 86.63 79.85 81.87 83.95 85.83 87.72 86.01 88.68 91.52 93.37 95.05 77.38 79.15 80.93 82.82 84.79 62.95 67.95 72.42 77.09 81.15 1990 1991 1992 1993 1994 ... .. ... ... ... 18,224.8 18,648.6 19,410.8 20,417.8 21,636.8 12,760.3 13,021.5 13,582.6 14,318.0 15,203.7 6,622.7 6,760.5 6,986.8 7,327.1 7,731.5 2,541.9 2,622.8 2,708.2 2,828.6 2,992.4 4,080.7 4,137.7 4,278.6 4,498.5 4,739.1 6,137.7 6,261.0 6,595.8 6,991.0 7,472.2 3,611.6 3,732.4 3,894.6 4,085.6 4,322.4 1,087.1 1,129.8 1,176.0 1,229.0 1,279.2 2,524.5 2,602.6 2,718.6 2,856.7 3,043.2 1,852.9 1,894.7 1,933.5 2,014.1 2,110.7 1990 1991 1992 1993 1994 ... ... ... ... ... 88.06 89.51 91.06 92.97 95.08 88.14 89.52 90.99 92.88 94.99 87.82 89.24 90.55 92.32 94.39 81.17 82.58 84.27 86.91 90.51 92.34 93.76 94.79 95.94 96.97 88.47 89.82 91.46 93.47 95.62 89.82 91.77 93.64 95.22 90.00 96.80 98.05 99.08 99.47 99.42 87.02 89.25 91.44 93.51 95.55 84.05 84.95 86.50 89.12 92.57 1995 1996 1997 1998 ... ... ... ... 22,630.2 23,706.5 24,825.9 26,179.2 15,908.5 16,722.5 17,573.4 18,642.9 8,124.2 8,527.2 8,954.9 9,449.9 3,182.8 3,352.2 3,517.5 3,736.2 4,941.4 5,175.0 5,437.4 5,713.7 7,784.2 8,195.3 8,618.5 9,193.0 4,533.0 4,724.8 4,928.1 5,117.5 1,314.4 1,343.2 1,363.5 1,380.1 3,218.6 3,381.5 3,564.5 3,737.4 2,188.7 2,259.2 2,324.5 2,418.8 1995 1996 1997 1998 ... ... ... ... 97.37 100.00 102.79 106.09 97.30 100.00 102.93 106.35 96.96 100.00 103.48 107.65 94.90 100.00 105.86 113.28 98.31 100.00 101.97 104.14 97.66 100.00 102.35 105.01 98.23 100.00 101.62 103.31 99.40 100.00 99.60 99.45 97.76 100.00 102.42 104.83 96.14 100.00 104.29 110.13 1925 1926 1927 1928 1929 ... ... ... ... ... 297.0 307.2 315.8 326.0 331.1 227.0 234.9 241.4 249.8 254.0 126.5 130.0 133.1 135.2 135.5 28.3 29.9 30.9 31.4 31.9 98.2 100.1 102.2 103.8 103.6 100.5 104.9 108.3 114.5 118.5 38.0 38.9 39.7 40.5 40.6 1930 1931 1932 1933 1934 ... ... ... ... ... 315.8 280.3 255.8 265.2 275.7 242.0 214.3 193.8 197.9 204.4 129.2 116.8 107.6 107.7 110.4 30.7 28.3 25.6 24.6 24.8 98.5 88.5 81.9 83.2 85.6 112.8 97.4 86.3 90.1 94.0 39.5 35.9 35.5 41.6 45.6 1935 1936 1937 1938 1939 ... ... ... ... ... 282.2 303.9 323.2 327.2 336.0 208.0 222.9 237.6 239.6 245.1 112.3 119.3 126.3 125.5 126.6 24.8 26.3 28.8 28.9 29.4 87.5 93.0 97.4 96.5 97.2 95.7 103.6 111.3 114.2 118.5 48.5 54.0 57.0 59.1 61.4 1940 1941 1942 1943 1944 ... ... ... ... ... 361.9 411.1 470.0 522.4 564.8 262.2 289.5 310.4 326.3 344.1 133.9 148.5 158.4 162.1 167.3 31.7 35.8 36.7 36.3 37.4 102.2 112.7 121.8 125.8 129.9 128.3 141.0 152.0 164.2 176.7 1945 1946 1947 1948 1949 ... ... ... ... ... 609.4 695.5 811.0 873.0 896.6 374.8 445.7 529.5 582.2 611.5 184.5 221.1 263.7 291.5 304.1 42.6 52.1 65.2 77.2 85.3 141.9 169.0 198.5 214.2 218.8 1950 1951 1952 1953 1954 ... ... ... ... ... 984.2 1,085.9 1,150.5 1,195.9 1,249.7 671.5 735.9 776.3 808.0 842.2 332.0 365.9 386.4 401.7 415.0 96.9 108.3 115.5 123.5 129.6 1955 1956 1957 1958 1959 ... ... ... ... ... 1,343.8 1,457.6 1,527.7 1,582.3 1,643.1 905.7 976.1 1,022.7 1,055.2 1,099.4 448.4 494.6 526.4 543.2 564.9 1960 1961 1962 1963 1964 ... ... ... ... ... 1,693.7 1,752.2 1,826.5 1,894.8 2,011.9 1,131.4 1,167.4 1,209.0 1,245.5 1,330.3 1965 1966 1967 1968 1969 ... ... ... ... ... 1970 1971 1972 1973 1974 22 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.—Current-Cost Net Stock of Private Fixed Assets; Equipment, Software, and Structures; by Type, 1988-98 [Billions of dollars; yearend estimates] 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 11,540.9 12,197.2 12,760.3 13,021.5 13,582.6 14,318.0 15,203.7 15,908.5 16,722.5 17,573.4 18,642.9 2,310.5 2,448.6 2,592.4 2,674.3 2,761.2 2,884.2 3,051.1 3,243.8 3,416.3 3,583.0 3,803.8 2,264.9 2,400.2 2,541.9 2,622.8 2,708.2 2,828.6 2,992.4 3,182.8 3,352.2 3,517.5 3,736.2 Information processing equipment and software Computers and peripheral equipment Software1 Communication equipment Instruments Photocopy and related equipment Office and acccounting equipment 581.6 90.3 70.6 260.6 90.7 46.2 23.2 621.8 91.7 81.6 277.4 100.2 49.2 21.7 663.4 91.0 94.7 294.4 111.9 51.7 19.7 687.0 83.1 104.8 305.8 121.5 53.9 18.0 719.6 81.5 115.4 314.5 133.1 57.0 18.1 760.3 82.0 129.7 325.3 143.8 60.5 19.0 802.8 86.4 142.9 334.7 153.7 65.7 19.5 850.2 93.6 158.3 344.3 165.1 68.8 20.1 906.0 101.5 173.7 363.8 175.0 71.5 20.5 969.1 110.6 192.6 388.2 183.9 71.8 22.0 1,044.9 120.7 220.4 415.7 192.7 71.2 24.3 Industrial equipment Fabricated metal products Engines and turbines Steam engines Internal combustion engines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment Electrical transmission, distribution, and industrial apparatus .... 784.0 85.1 39.7 35.3 4.4 149.8 167.1 167.8 174.5 838.5 87.0 47.8 43.1 4.7 157.5 179.2 177.6 189.3 893.4 88.4 50.3 45.3 5.0 167.4 195.2 189.1 203.1 916.9 89.5 52.2 46.9 5.3 171.6 201.1 192.9 209.6 937.0 88.9 52.2 46.8 5.4 175.9 206.9 197.5 215.6 964.3 87.6 52.5 46.9 5.6 183.3 214.3 204.5 222.1 1,010.7 90.3 55.2 49.2 5.9 193.7 225.0 213.4 233.1 1,075.1 95.6 55.8 49.5 6.4 209.2 240.5 225.3 248.7 1,119.1 98.7 57.3 50.4 6.9 219.2 253.1 234.9 255.9 1,158.2 99.8 57.7 50.5 7.2 229.5 261.5 243.8 265.9 1,203.0 101.6 58.3 50.6 7.7 240.2 271.5 255.2 276.1 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 443.5 147.7 88.6 94.3 46.4 66.5 455.3 150.5 89.5 99.1 46.9 69.2 471.8 151.4 94.7 108.4 46.9 70.5 496.9 153.4 108.9 118.5 46.5 69.5 521.7 163.7 117.6 126.7 45.8 67.9 556.7 181.4 126.4 133.5 46.4 68.9 604.3 206.7 142.3 137.4 46.1 71.8 650.5 234.1 150.0 143.6 45.9 76.9 690.4 260.8 159.0 147.1 46.5 77.1 720.7 285.4 162.4 149.4 46.5 76.9 781.3 323.7 164.8 166.5 46.9 79.3 Other equipment Furniture and fixtures Household furniture Other furniture Tractors Farm tractors Construction tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical*equipment, n.e.c Household appliances Other Other nonresidential equipment 455.8 114.9 8.2 106.8 47.7 37.8 9.9 59.9 62.9 20.9 50.4 28.6 3.1 25.6 70.5 484.7 126.4 8.4 118.0 49.6 39.1 10.5 62.6 66.8 20.0 53.3 30.2 3.1 27.0 513.2 135.2 8.5 126.7 52.1 41.3 10.8 65.6 71.0 19.3 56.0 33.1 3.1 30.1 522.0 137.9 8.4 129.5 54.0 43.1 10.9 66.8 69.1 17.8 57.2 35.3 3.0 32.3 529.9 143.0 8.3 134.7 53.6 42.9 10.7 66.3 68.6 16.6 56.3 38.0 2.9 35.2 547.3 149.8 8.4 141.4 54.1 43.7 10.4 67.5 69.4 16.4 57.1 40.2 2.8 37.4 574.6 159.2 8.6 150.6 56.0 45.7 10.3 69.6 72.4 16.3 60.4 41.8 2.8 39.0 607.1 169.7 8.8 160.9 57.9 47.6 10.3 72.6 76.8 16.5 64.6 43.4 2.9 40.5 105.5 636.8 178.2 9.0 169.2 59.3 48.6 10.6 74.9 82.1 16.6 68.8 44.7 2.9 41.9 112.2 669.4 188.1 9.2 178.9 60.8 49.7 11.1 77.2 88.4 16.9 72.6 46.6 2.9 43.7 118.7 707.0 196.9 9.5 187.4 63.1 51.3 11.8 80.0 96.4 18.3 76.4 49.4 2.9 46.5 126.5 Line Private fixed assets Equipment and software Nonresidential equipment and software 45.6 Residential equipment 9,230.4 Structures 3,669.9 Nonresidential structures 2,215.5 510.9 513.6 554.9 5.0 549.9 106.0 87.1 207.2 235.8 113.8 60.2 61.9 Nonresidential buildings, excluding farm Industrial buildings Office buildings2 Commercial buildings Mobile structures Other commercial3 Religious buildings Educational buildings Hospital and institutional buildings Other Hotels and motels Amusement and recreational buildings Other nonfarm buildings4 75.9 80.9 83.9 87.3 92.8 98.9 48.4 50.5 51.5 53.0 55.7 58.7 9,748.6 10,167.9 10,347.2 10,821.5 11,433.8 12,152.6 3,884.8 4,080.7 4,137.7 4,278.6 4,498.5 4,739.1 61.0 64.1 65.5 67.6 12,664.6 13,306.3 13,990.4 14,839.1 4,941.4 5,175.0 5,437.4 5,713.7 3,285.6 729.2 756.3 843.8 8.6 835.2 145.7 137.9 327.7 345.1 177.5 92.7 75.0 3,489.2 762.0 803.1 900.5 8.9 891.6 153.5 150.0 347.9 372.4 194.3 100.8 77.3 3,722.3 798.4 861.7 962.2 9.3 952.9 163.0 163.8 369.7 403.5 214.5 109.3 79.7 2,514.3 570.6 589.8 636.0 6.1 629.9 116.6 98.0 236.5 266.8 133.7 67.5 65.6 1,005.2 256.1 177.5 402.2 132.7 36.6 2,576.4 585.1 604.4 649.4 6.4 643.0 118.5 101.4 244.9 272.6 137.7 69.0 65.9 1,021.0 255.9 180.9 410.5 136.7 37.0 2,676.1 608.5 626.5 673.6 6.6 667.0 122.4 106.9 258.5 279.7 141.4 71.4 66.9 1,050.9 261.6 185.2 422.9 143.5 37.7 2,816.6 636.6 657.1 710.6 7.1 703.5 128.2 113.8 277.0 293.3 148.0 75.6 69.7 1,109.2 278.1 194.4 444.0 152.9 39.8 2,992.3 673.6 694.6 757.9 7.7 750.2 135.3 122.5 298.2 310.2 156.2 81.4 72.5 1,148.4 281.6 204.4 460.6 160.3 41.5 3,125.1 700.4 723.1 796.6 8.3 788.4 140.2 129.2 311.9 323.7 164.1 86.6 73.0 1,190.2 287.5 219.3 478.0 163.7 41.7 1,229.0 299.2 235.3 483.4 168.9 42.1 1,262.0 301.9 237.8 500.0 178.5 43.8 1,270.7 295.6 248.6 504.5 178.5 43.5 Utilities Railroad Telecommunications Electric light and power Gas Petroleum pipelines 939.7 250.1 156.5 375.2 122.3 35.5 2,372.6 541.0 555.4 597.7 5.6 592.2 111.9 92.7 222.2 251.7 123.4 64.3 64.0 984.9 255.3 171.6 392.3 129.2 36.6 Farm related buildings and structures Mining exploration, shafts, and wells Petroleum and natural gas Other mining Other nonfarm structures5 177.1 253.1 225.8 27.3 84.6 181.2 254.7 226.7 28.0 91.4 184.1 277.9 249.4 28.5 99.2 182.9 251.9 223.3 28.6 105.4 184.6 254.7 225.5 29.2 112.4 189.9 262.9 232.7 30.2 119.8 197.1 272.5 240.4 32.1 128.7 200.0 287.3 254.5 32.8 138.7 204.4 311.2 277.4 33.8 144.8 210.1 324.1 289.0 35.1 152.0 216.9 347.1 310.3 36.8 156.6 5,560.5 5,863.8 6,087.2 6,209.6 6,542.8 6,935.3 7,413.5 7,723.3 8,131.2 8,553.0 9,125.4 4,567.0 4,479.4 3,778.4 701.0 87.6 969.1 24.4 4,801.4 4,709.1 4,006.4 702.7 92.3 1,037.1 25.3 4,962.6 4,867.1 4,154.3 712.8 95.5 1,098.7 26.0 5,047.1 4,950.2 4,221.4 728.8 96.9 1,136.9 25.6 5,314.7 5,214.6 4,462.9 751.7 100.1 1,201.9 26.2 5,653.0 5,544.0 4,789.2 754.8 109.0 1,254.8 27.5 6,058.9 5,936.8 5,170.2 766.6 122.1 1,326.1 28.6 6,301.5 6,169.1 5,383.9 785.2 132.4 1,392.8 28.9 6,624.6 6,483.0 5,663.1 819.9 141.6 1,477.1 29.6 6,960.0 6,809.7 5,933.7 876.0 150.2 1,562.7 30.4 7,450.7 7,289.6 6,317.4 972.2 161.1 1,643.1 31.7 Residential structures Housing units Permanent site 1 -to-4-unit 5-or-more-unit Manufactured homes Improvements Other residential6 „ [ 1. Excludes software "embedded" or bundled in computers and other equipment. 2. Consists of office buildings, except those occupied by electric and gas utility companies. 3. Consists primarily of stores, restaurants, garages, service stations, warehouses, and other buildings used for commercial purposes. 4. Consists of buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals. 5. Consists primarily of streets, dams, reservoirs, sewer and water facilities, parks, and airfields. 6. Consists primarily of dormitories and of fraternity and sorority houses, n.e.c. Not elsewhere classified. April 2000 • SURVEY OF CURRENT BUSINESS 23 Table 4.—Chain-Type Quantity Indexes for Net Stock of Private Fixed Assets; Equipment, Software, and Structures; by Type, 1988-98 [Index numbers, 1996=100; yearend estimates] Line 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1 84.09 86.21 88.14 89.52 90.99 92.88 94.99 97.30 100.00 102.93 106.35 2 76.84 79.23 81.18 82.61 84.31 86.96 90.55 94.93 100.00 105.82 113.17 3 76.88 79.24 81.17 82.58 84.27 86.91 90.51 94.90 100.00 105.86 113.28 4 5 6 7 8 9 10 58.16 27.75 40.07 70.42 62.04 78.58 116.12 62.36 31.20 46.45 73.95 66.29 81.92 108.97 65.80 32.74 52.82 77.16 71.04 83.92 99.14 68.84 34.18 59.17 79.39 75.62 86.06 90.51 72.89 38.32 66.15 81.79 80.57 88.07 90.42 77.77 45.21 73.84 84.15 85.71 92.36 92.72 83.43 53.99 81.69 88.04 90.28 97.04 94.59 90.81 71.80 89.64 93.40 95.07 99.22 97.17 100.00 100.00 100.00 100.00 100.00 100.00 100.00 110.86 140.17 112.26 107.83 104.97 101.33 107.19 124.86 206.52 128.48 117.78 109.83 101.64 118.63 Industrial equipment Fabricated metal products Engines and turbines Steam engines Internal combustion engines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment . Electrical transmission, distribution, and industrial apparatus 11 12 13 14 15 16 17 18 19 86.66 99.77 96.74 98.82 81.25 85.75 83.65 88.86 81.16 88.66 99.12 97.77 99.64 83.78 87.43 86.95 90.44 83.80 89.92 98.47 97.88 99.60 85.12 88.10 88.87 91.53 86.05 90.49 97.80 98.99 100.56 87.32 88.08 89.59 91.58 87.78 91.07 97.19 99.16 100.76 87.24 88.69 90.12 91.57 89.43 92.33 96.68 99.22 100.70 88.23 90.15 91.52 92.73 91.42 94.31 97.12 99.88 101.07 91.07 92.82 93.44 94.55 93.89 97.07 98.06 99.36 99.89 95.40 96.54 96.72 97.21 96.87 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.08 101.23 99.08 98.35 104.48 104.25 102.90 102.96 103.96 106.38 102.92 99.30 97.76 110.70 108.43 105.46 106.70 108.17 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 20 21 22 23 24 25 80.39 70.11 66.19 87.75 124.13 105.16 80.02 70.25 65.76 88.23 120.22 103.89 80.41 69.09 68.26 91.31 116.59 102.74 81.98 67.39 76.32 94.78 113.17 101.21 83.73 68.80 80.62 98.19 108.90 99.40 86.51 73.33 84.18 100.42 106.95 98.27 90.93 80.98 92.01 99.48 104.28 98.60 95.20 89.85 95.59 100.14 101.57 99.38 100.00 100.00 100.00 100.00 100.00 100.00 105.35 111.58 103.10 101.32 98.36 100.97 113.40 124.74 105.22 111.86 98.40 104.18 Other equipment Furniture and fixtures Household furniture Other furniture Tractors Farm tractors Construction tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical equipment, n.e.c Household appliances Other Other nonresidentiai equipment 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 87.13 78.28 109.79 76.59 100.36 96.69 117.40 100.24 97.05 156.27 89.43 68.65 121.04 65.17 74.90 89.43 82.73 109.17 81.32 100.47 96.16 120.45 100.82 98.39 144.18 91.02 72.56 118.98 69.48 78.39 91.33 85.81 107.08 84.67 101.09 96.73 121.30 102.28 99.56 132.87 92.77 76.81 114.81 74.29 80.86 91.13 87.03 103.63 86.14 99.57 96.11 115.48 100.85 95.31 121.16 92.76 80.86 109.13 78.98 82.55 90.58 89.16 101.17 88.51 95.83 93.43 106.83 97.88 91.55 110.03 89.26 85.47 105.00 84.17 84.56 91.75 91.40 99.79 90.95 95.05 93.47 102.32 96.85 91.09 107.00 88.79 89.98 102.19 89.16 87.94 93.97 93.83 99.53 93.53 96.40 95.85 98.92 97.33 92.56 104.08 91.85 93.21 100.89 92.69 91.78 96.73 96.85 99.47 96.71 98.45 98.53 98.06 98.44 95.48 101.57 95.61 96.01 100.22 95.72 95.68 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 104.30 104.39 101.52 104.54 102.40 102.28 102.91 102.06 105.91 100.21 104.16 105.57 100.97 105.88 105:65 109.46 109.41 104.59 109.67 105.33 104.86 107.42 104.49 113.40 107.73 108.57 112.65 103.74 113.26 111.69 41 75.00 78.74 81.81 84.21 86.63 89.50 92.87 96.41 100.00 103.62 107.57 42 86.04 88.08 90.00 91.37 92.78 94.45 96.16 97.92 100.00 102.20 104.66 Private fixed assets Equipment and software Nonresidentiai equipment and software Information processing equipment and software Computers and peripheral equipment Software1 Communication equipment Instruments Photocopy and related equipment Office and accounting equipment Residential equipment Structures < 43 88.36 90.28 92.34 93.76 94.79 95.94 96.97 98.31 100.00 101.97 104.14 Nonresidentiai buildings, excluding farm Industrial buildings Office buildings2 Commercial buildings Mobile structures Other commercial3 Religious buildings Educational buildings Hospital and institutional buildings Other Hotels and motels Amusement and recreational buildings Other nonfarm buildings4 44 45 46 47 48 49 50 51 52 53 54 55 56 83.66 86.94 84.19 81.67 79.70 81.69 90.16 78.24 78.41 84.85 79.53 80.49 102.92 86.56 88.94 87.94 84.97 84.97 84.97 92.00 80.51 81.29 87.51 83.34 83.14 102.85 89.49 91.49 91.13 88.19 89.95 88.18 93.55 83.06 84.40 90.56 88.06 85.20 103.14 91.41 93.53 93.10 89.79 92.72 89.76 94.78 85.62 87.11 92.18 90.40 86.78 103.10 92.83 95.07 94.31 91.07 94.01 91.04 95.66 88.28 89.95 92.52 90.79 87.90 102.37 94.30 96.05 95.50 92.72 95.22 92.69 96.74 90.73 92.97 93.50 91.75 89.77 102.27 95.81 97.21 96.56 94.55 96.45 94.53 97.69 93.35 95.68 94.61 92.61 92.37 102.11 97.71 98.67 98.17 96.99 97.98 96.98 98.82 96.23 97.81 96.46 95.07 96.01 100.32 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.66 101.00 102.63 103.19 102.66 103.19 101.88 105.05 102.61 104.39 105.89 105.12 99.93 105.50 101.92 106.03 106.24 105.72 106.25 104.18 110.47 105.05 109.11 112.60 109.81 99.97 Utilities Railroad Telecommunications Electric light and power Gas Petroleum pipelines 57 58 59 60 61 62 95.15 108.00 84.52 94.14 88.68 103.19 95.67 106.87 86.84 94.81 89.61 101.70 96.41 105.70 89.02 95.99 90.74 100.42 97.07 104.46 90.68 97.08 92.26 100.05 97.66 103.44 92.30 97.59 94.57 99,93 98.33 102.44 94.09 98.54 95.90 100.09 98.49 101.50 95.84 98.50 96.43 100.14 99.13 100.62 97.94 99.19 97.83 99.97 100.00 100.00 100.00 100.00 100.00 100.00 100.56 99.53 102.30 100.11 101.44 99.86 101.41 99.16 105.30 100.56 102.76 100.35 Farm related buildings and structures Mining exploration, shafts, and wells Petroleum and natural gas Other mining Other nonfarm structures5 63 64 65 66 67 107.48 107.08 108.00 100.21 72.64 106.25 105.35 106.18 99.15 75.90 105.31 104.49 105.29 98.54 79.87 104.34 103.86 104.59 98.48 83.58 102.97 102.20 102.73 98.24 88.33 102.20 101.77 102.23 98.28 92.35 101.44 101.13 101.31 99.78 95.42 100.53 100.06 100.12 99.54 98.21 100.00 100.00 100.00 100.00 100.00 99.42 102.23 102.47 100.25 101.39 98.83 104.20 104.55 101.29 103.28 68 84.58 86.69 88.52 89.86 91.50 93.50 95.65 97.67 100.00 102.34 104.99 69 70 71 72 73 74 75 85.53 85.56 83.84 97.10 84.43 80.02 103.75 87.47 87.52 85.90 98.41 85.24 82.94 104.07 89.16 89.24 87.74 99.30 85.71 85.41 104.72 90.48 90.59 89.26 99.61 85.60 86.88 103.39 91.96 92.08 90.98 99.63 86.45 89.24 102.40 93.79 93.91 93.11 99.41 88.29 92.05 102.09 95.77 95.86 95.46 98.67 91.43 95.00 100.94 97.75 97.80 97.59 99.23 95.46 97.25 100.33 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.30 102.25 102.44 100.96 104.70 102.56 100.33 105.00 104.89 105.31 102.11 110.17 105.06 100.96 Nonresidentiai structures Residential structures Housing units Permanent site 1-to-4-unit 5-or-more-unit Manufactured homes Improvements Other residential6 1. Excludes software "embedded" or bundled in computers and other equipment. 2. Consists of office buildings, except those occupied by electric and gas utility companies. 3. Consists primarily of stores, restaurants, garages, service stations, warehouses, and other buildings used for commercial purposes. 4. Consists of buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals. 5. Consists primarily of streets, dams, reservoirs, sewer and water facilities, parks, and airfields. 6. Consists primarily of dormitories and fraternity and sorority houses, n.e.c. Not elsewhere classified. 24 • April 2000 SURVEY OF CURRENT BUSINESS Table 5.—Current-Cost Net Stock of Private Fixed Assets, by Industry, 1988-98 [Billions of dollars; yearend estimates] Line 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1 11,540.9 12,197.2 12,760.3 13,021.5 13,582.6 14,318.0 15,203.7 15,908.5 16,722.5 17,573.4 18,642.9 Agriculture, forestry, and fishing Farms Housing Other Agricultural services, forestry, and fishing 2 3 4 5 6 453.4 423.3 152.2 271.1 30.1 468.1 436.2 157.6 278.6 31.9 481.5 446.6 161.2 285.5 34.8 485.3 448.0 161.7 286.3 37.3 494.0 453.7 166.9 286.8 40.3 510.3 466.6 172.8 293.7 43.7 534.6 486.0 182.0 304.0 48.6 551.2 498.3 186.8 311.5 52.9 569.2 510.6 192.1 318.5 58.5 588.7 525.4 197.9 327.5 63.3 613.9 543.7 205.9 337.7 70.2 Mining Metal mining Coal mining 7 8 9 10 11 401.1 28.7 31.1 323.8 17.5 405.0 28.9 31.5 326.2 18.4 430.8 29.3 32.1 350.4 19.0 403.9 29.3 31.7 323.7 19.2 405.8 30.0 32.0 324.9 18.9 417.6 30.7 33.5 334.2 19.3 433.0 32.6 36.4 343.7 20.3 455.0 34.3 39.0 360.4 21.2 482.9 35.8 40.9 384.1 22.1 500.6 36.1 43.6 397.1 23.7 529.8 36.7 47.1 420.1 25.9 Private fixed assets Oil and gas extraction Nonmetallic minerals, except fuels Construction 12 72.5 77.4 81.7 81.6 83.1 87.3 93.4 100.5 108.9 118.0 129.3 Manufacturing 13 1,094.6 1,151.2 1,217.2 1,247.6 1,286.0 1,326.5 1,387.2 1,457.3 1,520.9 1,590.1 1,660.2 Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries 14 15 16 17 18 19 20 21 22 23 24 25 580.3 24.1 10.0 37.6 108.4 63.9 100.1 81.7 58.2 46.8 38.8 10.7 606.0 24.7 10.7 38.9 111.7 66.5 104.8 86.4 60.3 49.0 42.0 11.2 635.8 25.4 11.2 40.2 115.5 69.7 110.3 91.8 64.0 51.1 45.0 11.6 645.7 25.2 11.2 40.2 116.4 70.3 112.0 93.6 66.2 51.6 47.1 11.8 660.5 25.3 11.4 40.4 117.2 71.6 115.0 96.4 68.1 53.2 49.6 12.3 678.1 25.8 11.9 40.9 118.3 73.7 117.0 100.4 53.7 51.1 12.6 708.6 27.3 12.5 42.2 122.2 77.0 121.1 107.9 78.1 54.4 52.7 13.2 746.6 29.0 13.2 43.9 126.0 81.5 125.5 119.6 85.3 54.7 54.1 13.9 782.5 30.6 13.7 46.0 128.6 84.3 129.9 133.2 90.3 55.1 56.2 14.6 820.9 31.5 14.3 49.8 131.4 87.3 136.8 143.4 95.9 57.0 58.6 14.9 860.6 32.5 15.0 55.0 134.2 90.8 143.4 153.4 101.7 59.8 59.4 15.4 Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products ... Leather and leather products 26 27 28 29 30 31 32 33 34 35 36 514.3 106.9 545.2 112.3 581.4 118.7 601.9 122.4 625.5 126.9 648.4 131.6 678.6 138.0 710.7 145.5 738.5 151.4 8.5 8.7 8.8 8.8 8.9 9.0 9.2 9.3 9.7 31.3 10.4 69.7 45.2 136.6 70.4 32.8 32.4 10.8 76.0 48.5 146.0 72.4 35.5 33.8 11.3 83.8 52.2 157.0 75.0 38.3 33.8 11.4 87.1 53.6 164.9 77.5 39.9 34.1 11.8 89.1 55.3 173.4 81.9 41.6 35.1 12.2 91.1 55.9 180.9 85.8 44.1 36.8 12.9 94.2 57.9 189.6 89.8 47.6 38.0 13.4 97.8 59.2 199.8 93.1 51.8 38.6 13.6 101.1 60.6 210.4 95.0 55.4 769.2 158.7 10.1 40.0 13.8 104.2 63.1 220.8 95.7 59.9 799.5 166.5 10.5 41.2 14.0 107.9 66.2 229.4 96.4 64.7 37 1,705.4 1,795.2 1,855.3 1,893.6 1,954.6 2,054.6 2,139.9 2,231.9 2,312.7 2,398.4 2,477.4 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 38 39 40 41 42 43 44 45 557.7 296.8 19.3 68.7 35.2 76.1 37.5 24.0 573.7 303.5 20.2 70.8 35.4 80.1 38.4 25.3 581.8 304.4 20.8 71.3 35.3 85.3 38.3 26.2 586.4 302.9 21.2 71.0 35.0 91.1 38.6 26.6 600.7 306.8 21.8 71.9 34.7 99.3 39.5 26.7 634.2 324.0 23.0 77.3 36.0 104.4 41.7 27.8 661.4 329.1 24.2 89.0 36.7 108.3 43.9 30.3 692.2 337.4 25.1 99.0 37.1 115.2 44.4 34.0 720.9 349.5 26.7 104.2 37.9 121.9 45.1 35.5 747.7 352.6 27.4 113.8 38.9 131.0 47.0 37.1 776.3 348.9 27.9 125.5 39.9 147.1 46.9 40.1 Communications Telephone and telegraph Radio and television 46 47 48 386.5 341.1 45.5 415.6 363.0 52.6 436.2 376.8 59.3 450.3 386.0 64.3 469.4 400.6 68.8 493.8 419.9 74.0 519.2 439.2 80.0 548.8 458.3 90.5 587.1 483.8 103.4 617.9 504.5 113.4 660.5 534.1 126.3 Electric, gas, and sanitary services Electric services Gas services Sanitary services 49 50 51 52 761.2 558.6 150.2 52.4 805.8 588.5 159.2 58.2 837.4 609.1 164.8 63.4 856.8 618.3 170.8 67.7 884.6 631.6 180.3 72.6 926.5 655.9 192.5 78.2 959.3 675.3 200.4 83.5 990.9 696.4 205.0 89.5 1,004.7 700.8 211.7 92.2 1,032.7 715.5 222.0 95.2 1,040.6 720.6 223.5 96.6 463.0 Transportation and public utilities 2.5 2.5 2.6 2.5 2.5 111 2.6 2.7 2.7 2.7 2.8 2.9 Wholesale trade 53 256.9 272.2 285.6 291.2 300.6 321.8 350.7 379.0 405.3 433.3 Retail trade 54 344.9 368.5 390.7 403.9 423.2 448.5 482.4 514.1 549.7 583.0 617.4 Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate" Owner-occupied housing Tenant-occupied housing Other Holding and other investment offices 55 56 57 58 59 60 61 62 63 64 65 6,725.3 204.3 88.1 30.6 70.6 7,139.6 222.0 101.5 36.0 79.8 7,465.8 236.3 113.8 40.0 88.8 7,639.3 242.1 117.9 42.8 94.9 8,029.1 254.8 117.1 44.0 103.0 8,505.3 259.6 129.9 52.6 111.3 7.6 8.0 8.5 9.0 9.1 9.9 6,294.1 3,892.6 1,561.3 840.2 30.0 6,659.6 4,149.3 1,605.3 905.0 32.7 6,943.7 4,336.6 1,639.9 967.2 34.7 7,096.8 4,444.7 1,654.6 997.5 35.8 7,463.1 4,717.9 1,711.1 1,034.1 38.1 7,900.1 5,053.0 1,765.1 1,082.0 41.9 9,087.5 266.4 151.5 58.7 124.1 11.8 8,429.1 5,459.1 1,831.1 1,138.9 46.0 9,480.9 268.1 166.3 63.5 139.0 12.8 8,779.2 5,717.7 1,879.8 1,181.7 52.1 9,986.5 274.6 192.2 68.9 145.7 14.3 9,232.2 6,049.9 1,953.3 1,229.0 58.6 10,518.0 285.5 207.9 74.9 154.7 15.7 9,714.0 6,394.2 2,026.4 1,293.4 65.3 11,238.6 300.6 239.3 84.2 165.3 17.3 10,358.8 6,842.5 2,144.6 1,371.7 73.1 66 67 68 69 70 71 72 73 74 75 76 77 78 486.9 91.6 26.5 85.0 57.8 520.1 97.6 26.5 93.0 59.4 551.7 104.9 26.6 99.4 61.7 575.3 107.6 26.1 103.0 69.7 606.2 109.9 25.5 107.3 78.0 646.1 114.7 25.4 114.9 87.4 10.5 20.6 39.2 233.4 120.1 18.7 12.5 82.2 694.9 120.6 26.0 122.3 101.4 11.3 24.1 43.2 246.1 128.2 18.8 13.4 85.7 738.5 125.1 26.9 131.4 111.3 12.0 786.4 136.0 27.2 139.2 118.7 13.0 30.7 50.0 271.6 142.9 19.5 14.8 94.4 843.4 147.7 29.0 147.4 124.6 14.2 35.0 54.5 290.9 152.9 20.3 16.0 101.8 913.3 161.2 31.2 161.2 131.5 15.6 39.4 59.0 314.3 164.8 21.2 17.4 110.9 Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other2 , 8.6 9.0 9.4 9.6 9.9 13.0 30.5 174.1 83.8 16.5 14.6 32.2 187.8 91.1 17.4 10.5 68.8 16.0 33.6 200.0 98.0 18.2 11.1 17.1 34.7 207.5 102.8 18.2 11.5 75.0 18.5 36.1 221.0 111.3 18.4 12.0 79.3 9.8 64.0 1. Fixed assets of nonprofit institutions serving individuals are included in the real estate industry. 2. Consists of social services; museums, botanical and zoological gardens; membership organizations; engineering 111 111 46.7 257.4 134.8 19.1 13.9 89.5 and management services; and services, not elsewhere classified. NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). April 2000 • SURVEY OF CURRENT BUSINESS 25 Table 6.—Chain-Type Quantity Indexes for Net Stock of Private Fixed Assets, by Industry, 1988-98 [Index numbers, 1996=100; yearend estimates] Line 1988 1989 1990 1991 1992 1993 1994 1995 84.09 86.21 88.14 89.52 90.99 92.88 94.99 97.30 Agriculture, forestry, and fishing Farms Housing Other Agricultural services, forestry, and fishing 99.02 103.22 98.76 97.54 102.74 99.18 104.85 64.60 98.50 101.65 99.36 103.01 71.45 97.63 105.68 62.99 98.98 102.54 99.50 104.34 68.38 100.19 99.12 100.84 75.52 99.59 98.82 100.05 79.78 98.29 99.67 99.45 99.80 86.36 99.01 99.86 99.88 99.84 91.68 Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 104.65 96.00 92.12 107.25 99.40 103.48 94.62 90.66 106.07 99.30 102.43 94.19 88.73 104.99 99.21 100.39 94.16 87.71 102.74 95.38 100.07 10 11 106.51 98.69 94.21 109.18 98.06 93.29 89.39 102.27 94.65 99.82 95.28 93.37 101.21 96.01 99.81 97.87 97.50 100.36 97.92 Construction 12 81.74 84.31 86.30 84.67 83.94 85.76 88.85 93.44 Manufacturing 13 86.92 88.49 90.18 91.44 92.62 93.43 94.82 97.17 Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries 14 15 16 17 18 19 20 21 22 23 24 25 89.07 96.36 88.85 100.59 103.76 92.72 90.85 71.82 78.92 100.48 79.79 89.15 90.12 95.87 91.51 100.64 103.02 93.36 92.34 73.70 79.14 102.42 83.99 89.86 91.17 95.15 92.79 100.17 102.45 93.94 93.86 75.68 80.63 103.46 87.50 90.31 91.63 93.38 92.19 98.76 101.87 93.50 94.51 76.61 82.12 104.06 91.15 90.83 92.19 91.71 92.23 97.25 100.68 93.44 95.67 77.80 83.01 105.70 94.67 92.68 92.54 91.13 93.53 96.08 99.21 93.84 95.38 79.47 86.43 104.27 95.68 93.08 93.92 93.10 95.01 95.94 99.31 95.19 96.13 83.26 90.20 102.39 96.15 93.96 96.58 96.29 97.57 97.11 99.47 97.98 97.48 90.46 95.72 100.62 97.22 96.65 Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products 26 27 28 29 30 31 32 33 34 35 36 84.61 86.50 106.24 100.21 92.10 84.66 87.22 78.15 90.86 72.72 112.79 86.75 87.90 105.34 100.32 93.16 88.95 91.15 80.75 90.22 76.29 110.77 89.12 89.47 102.61 100.08 94.04 93.91 94.64 83.89 90.40 78.95 108.41 91.23 91.27 101.71 99.13 94.36 96.15 96.63 87.08 92.54 80.96 105.30 93.08 92.68 100.94 97.92 95.67 96.59 98.18 90.10 95.77 82.87 104.41 94.39 93.80 99.70 98.20 96.61 96.85 97.44 92.27 97.83 85.75 103.21 95.77 95.25 98.43 99.74 98.36 97.22 98.11 93.86 98.92 89.70 102.02 97.79 97.87 97.53 100.34 100.22 98.22 98.70 96.39 99.97 94.93 101.08 Private fixed assets 37 89.03 90.08 91.18 91.97 93.26 94.81 96.12 97.98 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 38 39 40 41 42 43 44 45 97.35 108.54 89.51 80.25 114.95 81.28 101.00 78.52 96.72 107.31 90.80 80.64 110.82 82.22 99.09 79.23 95.82 105.86 92.03 79.17 107.39 83.53 97.38 80.09 95.02 104.29 92.52 77.11 104.32 85.76 96.94 80.83 94.91 102.85 92.59 75.84 101.22 91.01 97.09 81.07 95.45 101.90 93.47 78.84 101.76 93.15 97.67 82.67 96.85 101.13 95.48 87.88 101.61 93.43 98.54 87.79 98.58 100.38 96.57 95.89 100.31 96.45 99.21 95.27 Communications Telephone and telegraph Radio and television 46 47 48 74.87 79.93 50.92 77.54 81.93 56.83 80.13 83.78 62.91 82.28 85.38 67.73 85.30 88.16 71.85 88.07 90.71 75.66 91.29 93.65 80.23 95.17 96.44 89.21 Electric, gas, and sanitary services Electric services Gas services Sanitary services 49 50 51 52 91.75 96.54 85.48 69.42 92.96 97.17 86.93 74.52 94.52 98.40 88.43 78.81 95.55 98.75 90.41 82.80 96.76 98.92 93.44 87.76 98.28 99.79 95.63 92.77 98.42 99.45 96.10 95.82 99.18 99.70 97.56 98.88 Wholesale trade 53 71.19 73.75 75.68 77.02 78.48 82.39 87.60 93.77 Retail trade 54 75.48 78.21 80.93 83.34 85.70 88.25 91.45 95.40 Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate* Owner-occupied housing Tenant-occupied housing Other Holding and other investment offices 55 56 57 58 59 60 61 62 63 64 65 82.64 87.26 49.54 51.67 55.96 61.85 84.08 80.20 96.25 83.70 61.74 85.26 92.17 56.14 59.47 61.67 64.09 86.44 82.78 97.18 87.25 65.28 87.56 95.58 61.30 64.81 67.04 66.37 88.56 85.03 97.94 90.93 67.70 97.40 63.04 69.48 71.40 69.88 90.09 86.85 98.02 93.36 69.47 90.88 100.96 62.17 70.21 76.34 69.39 91.75 89.05 98.15 94.79 72.60 92.98 100.53 68.28 81.87 80.64 73.80 93.70 91.68 98.48 96.01 77.41 95.23 100.06 78.49 88.21 87.19 84.86 95.73 94.60 98.42 97.01 81.86 97.41 99.00 85.60 93.76 96.29 90.40 97.72 97.11 99.12 90.77 Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 2 66 67 68 69 70 71 72 73 74 75 76 77 78 71.92 82.68 95.66 67.02 58.82 77.92 49.02 74.00 74.44 69.45 94.19 78.38 77.12 75.03 85.22 97.86 72.02 58.95 79.64 53.60 75.60 78.34 73.50 97.61 81.74 80.98 77.70 89.29 97.35 75.18 59.56 80.51 57.33 77.04 81.49 77.03 100.07 84.35 83.82 80.68 91.19 96.95 77.80 65.77 81.42 60.96 78.76 84.42 80.44 100.32 86.99 86.67 83.66 91.22 95.45 80.27 71.79 82.55 64.80 80.68 88.44 85.31 100.69 89.44 90.42 87.11 92.12 95.10 84.79 78.16 85.28 70.79 85.17 91.23 89.72 100.00 90.82 91.74 90.93 92.92 95.81 88.61 88.07 89.05 80.39 90.59 93.26 92.78 98.27 93.65 92.87 95.07 94.29 99.18 94.26 94.81 92.77 91.36 95.58 96.01 95.84 98.52 95.88 95.75 Transportation and public utilities 1. Fixed assets of nonprofit institutions serving individuals are included in the real estate industry. 2. Consists of social services; museums, botanical and zoological gardens; membership organizations; engineering 1996 1997 1998 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.93 101.23 100.53 100.47 100.57 107.35 101.79 106.35 102.78 101.10 101.30 100.98 117.64 103.70 98.31 104.11 101.66 105.39 97.26 109.81 103.13 112.75 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 .and management services; and services, not elsewhere classified. NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 107.38 115.88 103.28 106.30 103.76 101.24 102.51 106.85 100.73 102.41, 104.53 106.91 105.06 101.70 103.32 100.74 107.40 102.45 105.18 115.98 101.26 105.07 108.74 113.33 110.05 105.00 103.65 102.02 102.77 103.22 102.58 102.17 100.13 101.95 103.31 103.73 98.85 106.72 101.63 105.14 106.24 103.80 103.25 99.44 104.13 107.53 106.27 97.37 113.54 101.82 102.47 105.87 102.79 99.86 101.37 109.09 100.78 106.93 100.43 105.33 107.06 100.31 102.80 118.30 102.20 119.23 101.48 114.50 105.88 105.02 109.89 112.99 111.05 122.05 100.27 99.79 101.59 100.91 100.96 100.18 103.37 101.41 106.61 113.43 103.68 107.12 102.65 105.83 106.23 129.43 118.34 110.85 119.33 105.08 106.42 101.05 104.96 118.05 102.49 110.65 107.11 105.06 109.35 102.37 103.03 100.44 102.20 108.64 106.08 105.51 107.21 106.38 105.44 108.79 113.03 106.50 105.39 105.04 102.73 105.59 106.42 113.31 111.53 115.61 116.74 110.66 118.49 125.82 112.59 111.90 110.86 106.75 111.82 11456 26 9 April 2000 SURVEY OF CURRENT BUSINESS Table 7.—Current-Cost Net Stock of Private Nonresidential Fixed Assets, by Selected Industry Group and Legal Form of Organization, 1988-98 [Billions of dollars; yearend estimates] 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 5,934.8 2,264.9 3,669.9 6,285.1 2,400.2 3,884.8 6,622.7 2,541.9 4,080.7 6,760.5 2,622.8 4,137.7 6,986.8 2,708.2 4,278.6 7,327.1 2,828.6 4,498.5 7,731.5 2,992.4 4,739.1 8,124.2 3,182.8 4,941.4 8,527.2 3,352.2 5,175.0 8,954.9 3,517.5 5,437.4 9,449.9 3,736.2 5,713.7 Farms Equipment and software Structures 271.1 98.0 173.1 278.6 101.7 177.0 285.5 105.9 179.6 286.3 107.9 178.3 286.8 107.0 179.8 293.7 108.9 184.8 304.0 112.3 191.6 311.5 117.2 194.3 318.5 120.2 198.3 327.5 123.8 203.7 337.7 127.7 210.1 Manufacturing Equipment and software Structures 1,094.6 643.0 451.6 1,151.2 679.0 472.2 1,217.2 729.0 488.2 1,247.6 755.5 492.1 1,286.0 779.8 506.2 1,326.5 800.7 525.8 1,387.2 834.4 552.8 1,457.3 884.5 572.9 1,520.9 923.1 597.9 1,590.1 961.8 628.2 1,660.2 1,000.7 659.5 Nonfarm nonmanufacturing Equipment and software Structures 4,569.1 1,523.8 3,045.3 4,855.2 1,619.6 3,235.6 5,120.0 1,707.1 3,412.9 5,226.6 1,759.4 3,467.2 5,414.0 1,821.3 3,592.6 5,706.8 1,918.9 3,787.9 6,040.3 2,045.7 3,994.6 6,355.4 2,181.1 4,174.3 6,687.7 2,308.9 4,378.9 7,037.3 2,431.9 4,605.4 7,452.0 2,607.8 4,844.1 4,426.5 1,909.3 2,517.2 4,690.8 2,026.3 2,664.5 4,948.2 2,150.2 2,798.0 5,058.3 2,221.5 2,836.7 5,240.6 2,299.9 2,940.7 5,513.3 2,410.9 3,102.4 5,833.0 2,560.3 3,272.7 6,160.8 2,734.5 3,426.3 6,494.0 2,890.4 3,603.6 6,838.3 3,041.5 3,796.8 7,223.8 3,237.0 3,986.8 Financial Equipment and software Structures 397.2 202.6 194.6 444.2 227.5 216.7 484.7 247.9 236.8 504.5 256.9 247.6 527.6 264.9 262.7 564.1 282.6 281.5 614.0 308.7 305.3 654.5 332.8 321.7 703.5 362.6 341.0 750.4 383.7 366.6 822.3 424.0 398.2 Nonfinancial Equipment and software Structures 4,029.3 1,706.7 2,322.6 4,246.7 1,798.8 2,447.8 4,463.4 1,902.3 2,561.1 4,553.8 1,964.6 2,589.2 4,713.0 2,035.0 2,678.0 4,949.2 2,128.3 2,820.9 5,219.0 2,251.6 2,967.5 5,506.3 2,401.6 3,104.6 5,790.4 2,527.8 3,262.6 6,087.9 2,657.8 3,430.1 6,401.6 2,813.0 3,588.6 1,508.3 355.6 1,152.7 1,594,2 373.9 1,220.3 1,674.5 391.8 1,282.7 1,702.2 401.3 1,300.9 1,746.2 408.3 1,338.0 1,813.8 417.7 1,396.1 1,898.5 432.1 1,466.3 1,963.4 448.4 1,515.1 2,033.3 461.8 1,571.4 2,116.6 475.9 1,640.6 2,226.1 499.2 1,726.9 Line Private nonresidential fixed assets Equipment and software Structures , By selected industry group: , By legal form of organization: Corporate Equipment and software Structures Noncorporate Equipment and software Structures Table 8.—Chain-Type Quantity Indexes for Net Stock of Private Nonresidential Fixed Assets, by Selected Industry Group and Legal Form of Organization, 1988-98 [Index numbers, 1996=100; yearend estimates] Line 1989 1990 1991 1992 1993 83.71 76.88 88.36 85.81 79.24 90.28 87.82 81.17 92.34 89.24 82.58 93.76 90.55 84.27 94.79 92.32 86.91 Farms Equipment and software Structures 105.68 101.43 108.25 104.85 101.44 106.93 104.34 101.80 105.89 103.01 100.03 104.82 100.84 96.75 103.36 Manufacturing Equipment and software Structures 86.92 82.68 93.72 88.49 84.63 94.69 90.18 95.47 91.44 88.63 95.91 Nonfarm nonmanufacturing Equipment and software Structures 81.95 73.41 86.72 84.31 76.03 88.92 86.51 77.91 91.30 81.62 75.06 87.18 83.72 77.45 89.02 Financial Equipment and software Structures 64.81 59.51 70.77 Nonfinancial Equipment and software Structures Private nonresidential fixed assets Equipment and software Structures 1994 1995 1996 1997 1998 94.39 90.51 96.97 96.96 94.90 98.31 100.00 100.00 100.00 103.48 105.86 101.97 107.65 113.28 104.14 100.05 96.10 102.48 96.82 101.62 99.84 98.57 100.63 100.00 100.00 100.00 100.57 102.65 99.33 100.98 104.95 98.64 92.62 90.19 96.46 93.43 91.32 96.77 94.82 93.22 97.33 97.17 96.37 98.41 100.00 100.00 100.00 103.28 104.41 101.56 106.30 108.69 102.74 88.08 79.34 92.95 89.58 81.32 94.17 91.69 84.71 95.53 94.03 89.12 96.71 96.77 94.13 98.19 100.00 100.00 100.00 103.67 106.61 102.15 108.28 115.58 104.58 85.72 79.44 91.02 87.24 80.99 92.50 88.80 82.92 93.74 90.90 85.87 95.09 93.38 89.78 96.35 96.42 94.53 97.96 100.00 100.00 100.00 104.07 106.19 102.40 108.80 113.92 104.85 70.71 65.80 76.13 75.25 69.89 81.18 77.92 71.92 84.61 80.39 73.82 87.77 84.20 78.26 90.80 89.16 84.60 94.17 93.70 90.76 96.91 100.00 100.00 100.00 106.19 108.37 103.93 115.51 122.32 108.72 83.72 77.38 88.90 85.34 79.17 90.37 87.02 80.84 92.06 88.39 82.32 93.33 89.84 84.25 94.36 91.73 95.54 93.90 90.53 96.57 96.75 95.07 98.07 100.00 100.00 100.00 103.82 105.88 102.24 107.99 112.73 104.44 90.44 88.33 91.06 92.57 90.53 93.16 94.60 92.03 95.36 95.69 92.58 96.62 96.16 92.73 97.20 96.86 93.42 97.91 97.62 95.09 98.39 98.69 97.26 99.12 100.00 100.00 100.00 101.61 103.77 100.99 104.02 109.31 102.52 By selected industry group: By legal form of organization: Corporate Equipment and software Structures Noncorporate Equipment and software Structures April 2000 • 27 SURVEY OF CURRENT BUSINESS Table 9.—Current-Cost Net Stock of Residential Fixed Assets, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-98 [Billions of dollars; yearend estimates] 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 5,741.8 6,057.1 6,287.4 6,411.8 6,755.5 7,161.9 7,654.5 7,973.1 8,391.5 8,821.2 9,405.1 5,606.1 65.7 5,540.3 5,912.2 66.9 5,845.3 6,137.7 68.0 6,069.6 6,261.0 69.3 6,191.8 6,595.8 71.9 6,524.0 6,991.0 73.7 6,917.2 7,472.2 76.0 7,396.3 7,784.2 78.2 7,706.0 8,195.3 81.6 8,113.8 8,618.5 85.4 8,533.1 9,193.0 91.7 9,101.3 135.7 47.3 88.4 144.9 51.5 93.4 149.7 52.5 97.2 150.8 51.2 99.6 159.6 53.5 106.1 170.9 57.3 113.7 182.3 60.7 121.6 188.8 62.4 126.5 196.2 64.5 131.7 202.7 66.4 136.2 212.1 69.1 142.9 Owner-occupied Farm Nonfarm 4,034.3 141.7 3,892.6 4,296.1 146.8 4,149.3 4,486.9 150.3 4,336.6 4,595.5 150.8 4,444.7 4,873.5 155.6 4,717.9 5,214.1 161.1 5,053.0 5,628.7 169.6 5,459.1 5,891.6 174.0 5,717.7 6,228.8 178.9 6,049.9 6,578.6 184.4 6,394.2 7,034.4 191.9 6,842.5 Tenant-occupied Farm Nonfarm 1,683.1 10.4 1,672.6 1,735.6 10.8 1,724.9 1,774.5 10.9 .1,763.6 1,790.7 10.9 1,779.8 1,855.7 11.2 1,844.5 1,920.3 11.7 1,908.6 1,997.3 12.5 1,984.8 2,052.5 12.8 2,039.7 2,133.1 13.2 2,119.9 2,212.2 13.5 2,198.7 2,339.0 14.0 2,325.0 Line Residential fixed assets By type of owner and legal form of organization: Private Corporate Noncorporate Government Federal State and local By tenure group1: 1. Excludes stocks of other nonfarm residential fixed assets, which consist primarily of dormitories and of fraternity and sorority houses. Table 10.—Chain-Type Quantity Indexes for Net Stock of Residential Fixed Assets, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-98 [Index numbers, 1996=100; yearend estimates] Line 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1 84.55 86.67 88.52 89.88 91.53 93.53 95.66 97.68 100.00 102.32 104.94 Private Corporate Noncorporate 2 3 4 84.50 94.92 84.39 86.63 95.73 86.53 88.47 96.32 88.39 89.82 96.93 89.74 91.46 97.49 91.40 93.47 98.06 93.43 95.62 97.91 95.60 97.66 98.94 97.64 100.00 100.00 100.00 102.35 100.76 102.37 105.01 101.72 105.05 Government Federal State and local 5 6 7 86.69 91.50 84.34 88.52 93.38 86.14 90.56 95.34 88.22 92.31 96.13 90.45 94.22 96.84 92.94 95.86 97.55 95.03 97.19 98.47 96.57 98.81 99.25 98.59 100.00 100.00 100.00 100.96 100.71 101.08 102.04 101.33 102.38 Owner-occupied Farm Nonfarm 8 9 10 80.74 99.01 80.20 83.25 99.15 82.78 85.45 99.51 85.03 87.21 99.38 86.85 89.34 99.15 89.05 91.89 98.86 91.68 94.74 99.48 94.60 97.19 99.88 97.11 100.00 100.00 100.00 102.96 100.48 103.03 106.28 101.34 106.42 Tenant-occupied Farm Nonfarm 11 12 13 95.30 100.01 95.27 96.32 99.52 96.30 97.19 99.47 97.17 97.43 99.04 97.42 97.74 98.66 97.73 98.19 98.31 98.19 98.28 99.11 98.28 99.08 99.88 99.08 100.00 100.00 100.00 100.49 100.30 100.49 101.14 100.79 101.14 Residential fixed assets By type of owner and legal form of organization: By tenure group1: 1. Excludes stocks of other nonfarm residential fixed assets, which consist primarily of dormitories and of fraternity and sorority houses. 28 • April 2000 SURVEY OF CURRENT BUSINESS Table 11.—Current-Cost Net Stock of Government Fixed Assets, 1988-98 [Billions of dollars; yearend estimates] Government fixed assets' Line 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1 3,262.2 3,438.7 3,611.6 3,732.4 3,894.6 4,085.6 4,322.4 4,533.0 4,724.8 4,928.1 5,117.5 Equipment and software 2 479.3 515.8 558.8 590.4 619.1 644.8 672.0 685.6 691.9 691.8 695.9 Structures Buildings Residential Industrial Educational Hospital Other2 Highways and streets Military facilities3 Conservation and development. Sewer systems structures Water supply facilities Other structures4 3 4 5 6 7 8 9 10 11 12 13 14 15 2,782.9 1,027.0 135.7 68.4 441.1 89.5 292.3 794.8 236.1 203.7 198.2 128.1 195.1 2,922.9 1,086.4 144.9 70.5 463.1 93.8 314.1 826.8 245.4 214.9 207.7 134.4 207.3 3,052.8 1,139.3 149.7 72.7 482.3 98.4 336.2 868.8 248.6 223.3 215.0 139.6 218.3 3,142.0 1,170.6 150.8 72.9 494.4 100.6 352.0 888.9 260.9 230.5 220.6 143.8 226.6 3,275.6 1,226.8 159.6 73.5 517.3 103.3 373.1 909.6 276.1 234.7 238.1 154.7 235.6 3,440.8 1,297.4 170.9 74.0 545.6 107.9 399.1 941.2 294.9 241.8 253.6 164.2 247.7 3,650.5 1,382.2 182.3 75.8 580.6 113.6 429.8 1,004.4 307.4 251.1 268.2 173.9 263.3 3,847.4 1,451.2 188.8 77.8 610.1 118.8 455.7 1,074.6 317.6 265.6 277.5 180.0 280.9 4,032.9 1,527.2 196.2 79.7 642.8 124.1 484.4 1,129.0 325.7 279.6 289.9 188.5 292.9 4,236.3 1,617.8 202.7 81.4 682.5 132.0 519.1 1,190.2 334.0 291.6 297.7 194.9 310.2 4,421.6 1,719.5 212.1 83.1 727.0 139.1 558.2 1,232.4 341.2 295.9 308.4 203.5 320.7 16 985.9 1,039.5 1,087.1 1,129.8 1,176.0 1,229.0 1,279.2 1,314.4 1,343.2 1,363.5 1,380.1 17 676.1 712.0 743.1 772.9 806.8 842.1 873.5 885.1 890.9 889.7 887.9 Equipment and software Aircraft Missiles Ships Vehicles Electronics and software Other equipment 18 19 20 21 22 23 24 338.4 91.0 44.9 91.2 22.1 26.0 63.3 359.4 95.3 48.3 96.3 22.3 27.7 69.5 384.7 103.3 54.0 101.9 22.8 29.4 73.3 403.8 105.4 56.7 108.5 23.7 29.8 79.6 420.1 104.7 63.8 111.4 25.0 30.5 84.7 433.0 109.9 67.8 112.9 24.1 31.6 86.6 447.5 117.7 67.0 118.3 23.7 32.2 88.5 446.2 117.3 64.7 119.4 20.9 32.7 91.2 440.8 116.0 59.9 117.1 20.9 33.1 93.9 428.2 108.7 57.4 113.8 20.2 33.8 94.3 415.4 102.0 55.5 108.7 19.1 34.8 95.3 Structures Buildings Residential Industrial Military facilities3 25 26 27 28 29 337.7 101.6 47.3 54.4 236.1 352.7 107.3 51.5 55.8 245.4 358.4 109.7 52.5 57.2 248.6 369.2 108.3 51.2 57.1 260.9 386.7 110.6 53.5 57.1 276.1 409.1 114.2 57.3 56.9 294.9 426.0 118.6 60.7 57.9 307.4 438.8 121.2 62.4 58.8 317.6 450.1 124.4 64.5 59.9 325.7 461.4 127.5 66.4 61.0 334.0 472.5 131.3 69.1 62.1 341.2 492.2 Federal National defense 30 309.8 327.4 344.0 356.9 369.3 386.9 405.8 429.3 452.3 473.9 Equipment and software 31 49.0 54.0 59.6 63.5 68.0 73.0 76.3 80.4 83.4 87.8 93.8 Structures Buildings Industrial Educational Hospital Other2 Highways and streets Conservation and development Other structures4 32 33 34 35 36 37 38 39 40 260.8 70.0 14.0 273.4 73.5 14.7 284.4 77.4 15.4 293.4 80.3 15.8 301.2 84.6 16.4 313.9 90.1 17.1 329.4 95.7 17.9 348.9 100.6 18.9 368.9 106.0 19.8 386.1 112.2 20.4 398.5 119.5 20.9 41 Equipment and software Structures Buildings Residential Educational Hospital Other2 Highways and streets Conservation and development Sewer systems structures Water supply facilities Other structures4 Nondefense State and local Addenda: General government fixed assets Equipment and software Structures Government enterprise fixed assets Equipment and software Structures Government nonresidential fixed assets ... Equipment and software Structures Federal Defense Nondefense State and local 2.0 2.0 2.0 2.0 2.1 2.1 2.2 2.2 2.3 2.3 2.4 12.3 41.7 17.8 163.3 9.6 13.1 43.6 18.1 171.3 10.5 13.9 46.0 18.6 177.0 11.5 14.3 48.1 18.5 182.0 12.7 14.8 51.4 18.4 184.5 13.7 15.6 55.4 18.7 189.4 15.7 16.5 59.0 19.6 195.9 18.2 17.5 61.9 20.5 206.8 21.0 18.6 65.4 21.2 218.2 23.6 20.1 69.3 21.7 226.4 25.8 21.4 74.8 22.1 228.9 28.0 2,276.3 2,399.3 2,524.5 2,602.6 2,718.6 2,856.7 3,043.2 3,218.6 3,381.5 3,564.5 3,737.4 42 91.9 102.4 114.4 123.2 130.9 138.8 148.1 158.9 167.7 175.8 186.7 43 44 45 46 47 48 49 50 51 52 53 2,184.4 855.3 88.4 439.1 77.2 250.6 776.9 40.4 198.2 128.1 185.4 2,296.8 905.7 93.4 461.1 80.7 270.5 808.7 43.6 207.7 134.4 196.8 2,410.1 952.1 97.2 480.3 84.5 290.2 850.3 46.3 215.0 139.6 206.8 2,479.4 982.0 99.6 492.3 86.2 303.9 870.4 48.6 220.6 143.8 214.0 2,587.7 10316 106.1 515.3 88.5 321.7 891.2 50.2 238.1 154.7 222.0 2,717.9 1,093.1 113.7 543.4 92.3 343.7 922.6 52.4 253.6 164.2 232.0 2,895.0 1,167.9 121.6 578.4 97.1 370.8 984.9 55.2 268.2 173.9 245.0 3,059.7 1,229.5 126.5 607.9 101.3 393.8 1,054.1 58.9 277.5 180.0 259.8 3,213.9 1,296.9 131.7 640.5 105.6 419.0 1,107.8 61.5 289.9 188.5 269.4 3,388.8 1,378.1 136.2 680.2 111.9 449.7 1,168.5 65.2 297.7 194.9 284.4 3,550.7 1,468.7 142.9 724.6 117.6 483.4 1,210.3 67.0 308.4 203.5 292.7 54 55 56 57 58 59 60 61 62 63 64 65 66 2,527.7 444.6 2,083.1 734.5 34.7 699.8 3,126.5 479.3 2,647.2 551.2 290.4 260.8 2,096.0 2,661.9 477.8 2,184.1 776.9 38.0 738.8 3,293.8 515.8 2,778.0 574.6 301.2 273.4 2,203.4 2,797.8 517.2 2,280.6 813.7 41.5 772.2 3,461.9 558.8 2,903.1 590.2 305.8 284.4 2,312.9 2,891.4 546.6 2,344.8 841.0 43.8 797.2 3,581.6 590.4 2,991.2 611.4 318.0 293.4 2,379.8 3,002.5 572.0 2,430.5 892.1 47.0 845.1 3,735.0 619.1 3,116.0 634.4 333.2 301.2 2,481.5 3,141.1 594.1 2,547.1 944.5 50.7 893.8 3,914.7 644.8 3,269.9 665.7 351.8 313.9 2,604.2 3,320.9 618.7 2,702.2 1,001.6 53.3 948.3 4,140.1 672.0 3,468.2 694.7 365.3 329.4 2,773.5 3,481.4 629.5 2,851.9 1,051.7 56.1 995.6 4,344.2 685.6 3,658.6 725.3 376.4 348.9 2,933.3 3,618.9 633.6 2,985.3 1,105.8 58.3 1,047.6 4,528.6 691.9 3,836.7 754.5 385.6 368.9 3,082.2 3,774.6 631.2 3,143.4 1,153.5 60.6 1,092.9 4,725.4 691.8 4,033.6 781.1 395.0 386.1 3,252.6 3,916.4 631.7 3,284.7 1,201.1 64.2 1,136.9 4,905/ 695i 4,209.5 801.8 403.3 398.5 3,407.7 1. Consists of the fixed assets of general government and government enterprises. 2. Consists primarily of general office buildings, police and fire stations, courthouses, auditoriums, garages, and passenger terminals. 3. Consists of Department of Defense structures, except family housing. 4. Consists primarily of electric and gas facilities, transit systems, and airfields. April 2000 • SURVEY OF CURRENT BUSINESS 29 Table 12.—Chain-Type Quantity Indexes for Net Stock of Government Fixed Assets, 1988-98 [Index numbers, 1996=100; yearend estimates] Line Government fixed assets l Equipment and software Structures Buildings Residential Industrial Educational Hospital Other2 Highways and streets Military facilities3 Conservation and development Sewer systems structures Water supply facilities Other structures4 Federal National defense Equipment and software Aircraft Missiles Ships Vehicles Electronics and software Other equipment Structures Buildings Residential Industrial Military facilities3 Nondefense Equipment and software Structures Buildings Industrial Educational Hospital Other2 Highways and streets Conservation and development Other structures4 State and local Equipment and software Structures Buildings Residential Educational Hospital Other2 Highways and streets Conservation and development Sewer systems structures Water supply facilities Other structures4 Addenda: General government fixed assets Equipment and software Structures Government enterprise fixed assets Equipment and software Structures Government nonresidential fixed assets ... Equipment and software Structures Federal Defense Nondefense State and local 1988 1989 85.83 87.72 81.97 86.53 83.46 86.69 107.22 85.07 88.29 74.85 86.92 104.40 91.28 84.12 83.65 82.19 93.37 98.60 94.03 115.57 72.27 98.50 133.51 76.59 79.53 103.68 102.01 91.50 113.32 104.40 83.21 63.31 86.19 84.04 81.81 84.34 84.99 89.53 74.20 86.59 82.36 84.12 83.65 84.91 88.01 85.12 88.52 105.98 86.31 89.31 77.65 88.31 104.20 92.11 86.32 85.93 83.95 95.05 100.42 97.61 117.46 79.17 100.96 134.07 81.35 83.52 103.58 102.13 93.38 111.52 104.20 84.62 67.86 88.82 82.82 89.18 106.43 83.36 79.91 103.28 94.11 53.35 84.79 66.65 85.81 83.68 86.14 86.24 90.36 77.30 88.02 85.01 86.32 85.93 86.60 87.05 83.18 87.92 81.84 69.05 82.60 85.79 81.97 86.52 97.02 105.85 88.23 84.03 88.87 87.45 89.20 83.95 72.60 84.63 87.68 86.19 87.98 97.10 105.37 88.82 85.80 88.23 81.85 88.73 107.97 81.19 79.04 104.03 93.79 50.80 82.82 61.16 1. Consists of the fixed assets of general government and government enterprises. 2. Consists primarily of general office buildings, police and fire stations, courthouses, auditoriums, garages, and passenger terminals. 1990 1991 1992 1993 89.82 90.54 89.70 87.08 90.56 104.93 87.72 90.61 80.98 89.98 103.76 92.83 88.69 88.55 85.99 96.80 102.22 101.28 117.77 89.51 103.73 134.96 85.44 87.07 103.35 102.37 95.34 109.91 103.76 86.26 72.60 89.66 84.74 89.84 105.06 85.85 82.17 102.48 94.30 56.76 93.64 96.29 93.16 91.50 94.22 104.01 91.65 93.66 87.60 93.18 102.16 94.02 93.55 93.49 90.46 99.08 103.59 105.07 110.60 105.93 106.11 133.82 90.29 96.06 87.84 85.81 88.22 87.66 91.45 80.80 89.74 87.59 88.69 88.55 88.52 91.77 93.68 91.43 89.28 92.31 104.43 89.61 91.98 84.44 91.59 102.82 93.47 91.09 91.30 88.19 98.05 103.11 103.62 114.39 97.90 105.14 136.63 87.67 92.48 102.65 102.24 96.13 108.82 102.82 88.17 77.26 90.86 87.51 91.12 104.17 87.71 85.78 101.71 94.54 61.70 89.25 76.59 89.95 88.19 90.45 89.55 92.73 84.23 91.40 89.69 91.09 91.30 90.49 90.25 82.73 92.07 90.54 93.53 103.74 89.60 89.46 100.85 94.75 66.07 91.44 80.54 92.04 90.58 92.94 91.61 94.38 87.31 93.03 91.46 93.55 93.49 92.58 95.22 97.64 94.79 93.54 95.86 103.34 93.34 95.49 90.75 94.87 101.41 94.42 95.57 95.16 93.03 99.47 103.05 104.66 108.02 108.31 105.52 126.32 93.37 96.51 101.43 101.46 97.55 105.73 101.41 92.42 87.97 93.48 93.69 96.08 102.88 92.23 93.08 100.56 94.75 74.34 93.51 84.30 94.01 92.77 95.03 93.31 96.07 90.39 94.76 93.24 95.57 95.16 94.65 100.82 95.16 97.05 96.76 95.51 99.42 102.12 103.36 106.01 106.94 104.21 115.81 95.33 96.89 100.88 101.04 98.47 103.84 100.82 94.09 91.18 94.77 95.39 97.64 101.99 94.36 94.78 100.77 95.14 83.15 95.55 89.06 95.90 94.83 96.57 94.98 97.34 93.43 96.57 95.22 97.05 96.76 96.58 91.88 90.68 86.29 76.17 86.90 89.78 90.54 89.65 97.22 104.72 89.66 87.83 92.70 95.01 92.19 88.75 79.45 89.30 91.75 93.68 91.39 97.38 103.76 90.86 89.93 94.36 97.35 93.70 91.26 84.88 91.64 93.61 96.29 93.11 97.61 102.99 92.07 92.01 95.74 98.30 95.18 93.51 90.50 93.68 95.19 97.64 94.73 97.86 102.08 93.48 93.97 97.04 98.85 96.65 95.40 93.45 95.51 96.63 98.40 96.31 98.09 101.28 94.77 95.87 87.02 72.33 102.10 101.94 96.84 107.47 102.16 1994 96.66 96.35 95.38 97.19 102.30 95.01 96.89 93.61 96.65 1995 1996 1997 1998 98.23 98.97 98.10 97.67 98.81 101.25 97.46 98.39 96.73 98.31 100.37 96.63 98.48 98.20 97.89 99.40 100.97 101.54 102.81 103.91 102.53 107.05 96.48 97.83 100.41 100.51 99.25 101.87 100.37 96.30 94.89 96.63 97.59 99.35 101.31 96.91 97.12 100.27 96.38 91.37 97.76 94.29 97.94 97.41 98.59 97.45 98.65 96.66 98.28 97.54 98.48 98.20 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.62 100.72 101.77 102.40 100.96 98.25 102.65 101.76 103.49 101.91 99.34 100.57 101.38 102.03 102.09 99.60 98.39 97.40 95.22 94.55 97.06 94.72 104.21 100.57 99.34 99.35 100.71 97.89 99.34 101.96 106.65 100.92 102.01 99.32 98.95 103.63 102.47 99.18 100.04 105.75 102.42 106.55 102.21 102.72 101.08 102.66 101.43 103.65 101.96 102.44 101.38 102.03 101.77 103.31 102.11 103.51 104.83 102.04 96.48 105.28 102.92 107.22 103.75 98.54 101.07 102.60 104.00 104.10 99.45 96.98 95.27 90.89 90.06 94.73 90.44 108.96 100.95 98.45 99.22 98.29 97.48 96.35 97.54 98.20 98.97 98.06 98.65 100.60 96.63 97.91 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.52 100.33 101.77 101.95 104.99 101.78 101.65 100.72 101.81 100.00 99.11 100.92 102.26 103.15 101.30 103.53 103.84 110.90 103.45 103.37 102.11 103.59 100.09 98.14 102.13 104.44 3. Consists of Department of Defense structures, except family housing. 4. Consists primarily of electric and gas facilities, transit systems, and airfields. 98.74 101.33 95.98 98.54 104.27 114.11 102.13 104.51 97.98 97.78 105.68 106.39 98.76 100.10 113.25 104.83 114.30 104.36 105.44 102.38 105.31 102.43 107.35 103.85 104.52 102.60 104.00 103.30 30 • April 2000 SURVEY OF CURRENT BUSINESS Table 13.—Current-Cost Net Stock of Consumer Durable Goods, by Type, 1988-98 [Billions of dollars; yearend estimates] Line 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1,661.6 1,768.5 1,852.9 1,894.7 1,933.5 2,014.1 2,110.7 2,188.7 2,259.2 2,324.5 2,418.8 Motor vehicles . Autos Trucks Other 1 515.4 354.5 135.4 25.5 550.1 367.5 155.7 27.0 574.4 374.5 171.7 28.2 566.9 573.8 355.2 188.9 29.7 598.7 360.0 207.5 31.2 628.8 367.2 227.2 34.3 646.5 366.4 243.7 36.4 663.1 366.2 669.0 362.0 259.0 37.9 267.1 39.9 698.7 369.5 285.3 43.8 Furniture and household equipment Furniture, including mattresses and bedsprings Kitchen and other household appliances ^ China, glassware, tableware, and utensils Video and audio goods, including musical instruments and computer goods. Video and audio goods, including musical instruments Computers, peripherals, and software Other durable house furnishings3 791.1 226.4 116.8 77.7 201.4 832.3 236.2 120.2 886.6 253.4 124.8 91.7 221.2 907.9 945.5 266.9 128.3 94.1 220.2 281.5 133.9 98.8 225.8 986.9 293.6 140.4 102.8 237.8 1,023.7 212.4 861.4 243.9 123.0 86.0 218.6 1,058.9 322.3 152.0 109.8 242.2 1,095.0 334.4 155.5 118.3 243.1 1,135.3 349.9 159.4 124.9 244.9 148.8 52.5 168.8 160.1 52.4 181.7 167.1 51.5 190.0 172.3 48.9 195.4 178.9 41.3 198.4 195.6 42.2 212.3 201.7 38.0 210.5 39.4 205.6 31.7 232.6 215.8 27.3 243.8 220.5 24.5 256.1 Other . Opthalmic products and orthopedic appliances Wheel goods, sports and photographic equipment, boats, and pleasure aircraft. Jewelry and watches Books and maps 355.1 25.4 124.8 386.1 417.1 469.9 495.0 518.6 34.0 142.7 441.2 36.7 150.6 451.8 29.0 134.3 38.9 153.0 40.4 159.5 43.3 169.0 45.9 176.8 537.2 48.9 184.2 560.4 52.8 193.3 584.9 56.8 201.4 139.3 65.6 150.9 71.9 163.1 77.4 172.3 81.7 173.7 86.2 179.3 90.8 186.3 96.3 190.8 105.1 191.6 112.5 194.7 119.6 199.5 127.1 Consumer durable goods . 81.8 1. Consists of recreational vehicles and accessories and parts. 2. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, air conditioners, sewing machines, vacuum cleaners, and other appliances except for built-in appliances, which are classified as part 360.4 177.6 28.8 186.4 310.0 144.8 105.2 239.6 224.1 of residential stuctures. 3. Includes floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors, art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools. Table 14.—Chain-Type Quantity Indexes for Net Stock of Consumer Durable Goods, by Type, 1988-98 [Index numbers, 1996=100; yearend estimates] Line 1988 1990 1989 1991 1996 1997 96.14 100.00 104.29 110.13 99.02 101.35 96.27 95.14 100.00 100.00 100.00 100.00 101.46 99.74 103.23 105.98 106.11 102.38 110.10 114.65 89.91 93.25 91.99 90.02 82.64 94.84 96.40 96.01 94.63 91.31 100.00 100.00 100.00 100.00 100.00 105.52 104.12 104.00 106.05 109.21 111.86 108.64 108.56 112.45 120.62 79.55 54.75 88.97 85.92 67.04 92.19 93.02 81.88 95.86 100.00 100.00 100.00 107.35 123.59 104.48 116.75 155.47 109.80 85.11 86.22 85.31 87.77 88.08 87.95 91.15 91.68 91.23 95.22 94.90 95.44 100.00 100.00 100.00 105.38 106.39 105.26 111.73 113.50 111.89 85.28 83.96 88.05 86.76 91.27 90.52 95.07 95.24 100.00 100.00 105.39 105.11 112.30 109.80 1992 1993 1994 1995 1 77.09 81.15 84.05 84.95 86.50 89.12 92.57 Motor vehicles . Autos Trucks Other 1 2 3 4 5 94.81 114.91 68.60 72.63 99.01 117.18 76.13 75.15 100.73 117.22 80.39 77.09 96.59 109.62 80.55 77.94 95.50 105.69 83.23 79.62 96.42 104.07 87.38 83.65 98.16 103.06 92.36 90.09 Furniture and household equipment Furniture, including mattresses and bedsprings Kitchen and other household appliances/ China, glassware, tableware, and utensils Video and audio goods, including musical instruments and computer goods. Video and audio goods, including musical instruments Computers, >mpu' peripherals, and software dun house furnishings3 Otherr durable 6 7 8 9 10 68.68 76.44 75.24 73.59 49.45 72.78 80.26 78.37 76.11 54.73 76.10 83.19 80.97 78.64 59.25 79.11 85.53 83.05 80.56 64.56 81.91 87.71 85.52 83.08 69.04 85.45 90.31 88.62 86.22 74.84 11 12 13 57.33 26.44 78.46 62.63 30.41 81.77 67.17 33.91 84.14 70.86 41.19 85.35 74.78 46.40 86.80 Other Opthalmic products and orthopedic appliances Wheel goods, sports and photographic equipment, boats, and pleasure aircraft. Jewelry and watches Books and maps 14 15 16 74.47 65.39 74.90 78.16 72.24 78.75 81.35 81.05 81.71 83.27 84.11 83.63 17 18 76.27 73.98 79.46 77.02 81.87 79.82 83.45 81.93 Consumer durable goods . 1. Consists of recreational vehicles and accessories and parts. 2. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, air conditioners, sewing machines, vacuum cleaners, and other appliances except for built-in appliances, which are classified as part 1998 of residential structures. 3. Includes floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors, art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools. Table 15.—Real Net Stock of Fixed Assets and Consumer Durable Goods, 1988-98 [Billions of chained (1996) dollars; yearend estimates] Private fixed assets Year Government fixed assets Nonresidential Total Total Total Equipment and software Residential Total Federal State and local Consumer durable goods Structures 1988 1989 19,636.2 20,172.4 13,893.3 14,242.9 7,071.3 7,249.0 2,578.6 2,657.8 4,500.6 4,598.3 6,821.9 6,993.8 4,006.1 4,094.5 1,245.4 1,267.8 2,761.0 2,826.8 1,748.3 1,840.5 1990 1991 1992 1993 1994 20,657.0 20,995.7 21,360.7 21,807.6 22,303.4 14,561.6 14,790.2 15,033.1 15,344.8 15,693.6 7,418.9 7,538.2 7,648.8 7,798.3 7,973.5 2,722.5 2,769.8 2,826.3 2,914.9 3,035.7 4,703.5 4,775.4 4,828.2 4,886.9 4,939.0 7,142.4 7,251.4 7,384.2 7,546.5 7,720.2 4,192.4 4,283.6 4,370.6 4,444.6 4,511.6 1,291.2 1,307.9 1,321.7 1,326.9 1,326.1 2,901.2 2,975.5 3,048.6 3,117.4 3,185.4 1,906.2 1,926.5 1,961.7 2,021.2 2,099.4 1995 1996 1997 1998 22,840.1 23,456.8 24,112.2 24,884.4 16,074.9 16,521.1 17,004.7 17,569.7 8,190.6 8,447.5 8,741.8 9,093.7 3,183.0 3,354.0 3,550.4 3,799.4 5,007.6 5,093.5 5,194.1 5,304.4 7,884.3 8,073.6 8,263.4 8,478.4 4,584.9 4,667.7 4,743.4 4,822.2 1,325.9 1,333.9 1,328.5 1,326.5 3,259.0 3,333.8 3,414.6 3,494.8 2,180.4 2,267.9 2,365.3 2,497.7 34 • April2000 SURVEY OF CURRENT BUSINESS Domestic income CFC of corporate business Net product of corporate business Domestic income of corporate business CFC of nonflnancial corporate business Net product of nonflnancial corporate business Domestic income of nonfinancial corporate business Corporate profits of nonfinancial corporate business with IVA and CCAdj CCAdj of nonfinancial corporate business Saving, Investment, and Other Measures Net private domestic investment CFC for private fixed investment Net private fixed investment CFC for nonresidential fixed investment Net nonresidential fixed investment CFC for equipment and software Net fixed investment in equipment and software Corporate profits with IVA and CCAdj of domestic industries Corporate profits with IVA and CCAdj of financial domestic industries Corporate profits with IVA and CCAdj of nonfinancial domestic industries Unit nonlabor cost (for nonfinancial corporate business) CFC unit nonlabor cost (for nonfinancial corporate business) Corporate profits with IVA and CCAdj (unit profits from current production) (for nonfinancial corporate business) Corporate profits after tax with IVA and CCAdj (unit profits from current production) (for nonfinancial corporate business) CFC of financial corporate business CFC of nonfarm business CFC of nonfarm business less housing CCAdj for current-cost valuation CCAdj for domestic corporate business for current-cost valuation CCAdj for domestic financial corporate business CCAdj for domestic financial corporate business for current-cost valuation CCAdj for domestic nonfinancial corporate business for current-cost valuation CCAdj for national income CFC excluding imputations C. For the correction to the allocation of indirect business tax and nontax liabilities by legal form of organization and by industry, the following NIPA series (both current-dollar and real) are affected: Gross product of corporate business Net product of corporate business Indirect business tax and nontax liability plus business transfer payments less subsidies of corporate business Gross product of financial corporate business Gross product of nonfinancial corporate business Net product of nonfinancial corporate business Indirect business tax and nontax liability plus business transfer payments less subsidies of nonfinancial corporate business Unit nonlabor cost (of nonfinancial corporate business) Indirect business tax and nontax liability plus business transfer payments less subsidies unit cost (for nonfinancial corporate business) D. For the previously announced methodological improvement to the deflation of gross product of nonfinancial corporate business (see page 13 in the October 1999 SURVEY OF CURRENT BUSINESS, real gross product and real net product of nonfinancial corporate business (table 1.16, lines 36 and 38) and price per unit of real gross product of nonfinancial corporate business (table 7.15, line 1) are directly affected. In addition, all the other lines in table 7.15 are affected by the revision to line 1. April 2000 • SURVEY OF CURRENT BUSINESS Lines and Columns in NIPA Tables Affected by Corrections/Revisions Table number S.1 S.2 1.2 1.4 1.6 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 2.1 2.3 2.5 2.7 2.9 2.11 3.8 4.2 4.4 5.1 5.2 5.3 5.13 6.16C 7.1 7.2 7.3 7.4 7.5 7.9 7.10 7.11 7.14 7.15 7.17 7.19 8.1 8.2 8.3 8.5 8.6 8.7 8.11 8.14 8.15 8.21 8.22 2, 5, 14, 16, 20, 21, 23, 24, 25, 26, 27, 28, 29 2, 5, 13, 14, 16, 20, 21, 23, 24 2, 5, 13, 14, 16, 20, 21, 23, 24, 25 2 4 14 16 18 . 2,4,6 2, 3, 4, 6, 13 6, 8, 12, 17, 18, 29 3, 4, 5, 6, 10, 11, 12, 13 2, 3, 4, 5 2,3,4 2, 3, 4, 6, 13 20, 28, 30, 32, 33 Source of revision Columns affected Lines affected A A* A A A A B .... 2 3 7 10 52, 56 2, 3, 4, 5, 9, 16, 18, 19, 20, 21, 22, 23, 27, 34, 36, 37, 38 33. 13,21,22,24 60,63, 114 47,81,86,89, 102 . 9,11 1,4 1,2, 14, 1 5 , 2 0 , 2 3 , 2 7 , 2 8 , 3 1 , 3 4 , 3 8 . 1,5,12 1 16 23 24 4, 7, 8 2, 3, 5, 6, 8, 9, 14, 15 2, 3, 5, 6, 8, 9, 14, 15 27, 29, 30 1, 2, 3, 4 2, 3, 4, 6, 7, 8, 18, 19, 20, 46, 47, 48, 54, 55, 56, 70, 71, 72, 74, 75, 76, 82, 83, 84, 86, 87, 88. 2, 3, 4, 6, 7, 8, 10, 11, 12, 14, 15, 16, 22, 23, 24, 26, 27, 28, 31 2, 3, 4, 5, 6, 7 1, 13, 21, 23, 24, 36, 44, 46 1, 47, 81, 86, 89, 102, 148, 182, 187, 190 1, 5, 12, 13, 17, 24 1, 16, 23, 51, 66, 73 1, 2, 14, 15, 20, 23, 27, 28, 31, 34, 41, 42, 54, 55, 60, 63, 67, 68, 71, 74 1, 2, 3, 4, 6, 13, 14, 15, 16, 18 1, 2, 3, 4, 5, 6, 7, 8, 9 1, 2, 13, 16 2, 3, 5, 6, 8, 9, 14, 15 2, 3, 4, 6, 7, 8, 18, 19, 20, 46, 47, 48, 54, 55, 56, 70, 71, 72, 74, 75, 76, 82, 83, 84, 86, 87, 88, 90, 91, 92, 94, 95, 96, 98, 99, 100, 102, 103, 104, 105, 107, 113, 114, 115, 117, 118, 119. 1, 2, 12, 20, 37, 38, 40, 44, 45, 49, 50, 52, 53, 56 1 13 21,23 1,9 1,2, 14,15, 1 8 , 2 1 , 2 5 , 2 6 , 2 9 , 3 2 , 9, 10, 11, 12, 15 11, 12, 14, 16 1,2,3,4,5,25,26 1 , 3 , 4 , 6 , 7, 9, 10, 12,27 49, 51, 106, 108 12, 13 A, B A B A,B B B B, C, D A » v A A A A A A A A B B B A B A A A A A A A A A B.C.D A B A Sources of revisions: A: Corrections to real services furnished without payment by financial intermediaries. B: Corrections to private consumption of fixed capital. C: Corrections to corporate indirect business tax and nontax liability. D: Scheduled incorporation of new deflator for gross product of nonfinancial corporate business, as announced in the October 1999 SURVEY OF CURRENT BUSINESS. * Lines other than those listed may also show small revisions. 35 36 April 2000 SURVEY OF CURRENT BUSINESS National Income and Product Accounts Tables This section presents annual estimates for 1995-99 and quarterly estimates for 1997:I-1999:IV for nearly all of the full set of national income and product accounts (NIPA) tables; these estimates were released on March 30, 2000, and include the "final" estimates for the fourth quarter of 1999. The estimates in these tables reflect the revisions to the NIPA estimates beginning with 1959 that incorporate three corrections and a previously announced methodological improvement (for a discussion, see page 32). Tables 3.15-3.17, which will provide a new, simpler presentation of the estimates of government current expenditures and gross investment by function, are not yet available. They will be presented in a forthcoming article in the SURVEY OF CURRENT BUSINESS. The annual and quarterly estimates for GDP and other major NIPA series for 1929-99 are presented beginning on page 126 of this issue. The historical estimates for most of the NIPA tables are available on the BEA Web site at <www.bea.doc.gov> and on the STAT-USA Web site at <www.stat-usa.gov>. The tables contain annual, quarterly, and monthly estimates, indicated as follows: A Q QA MA Only annual estimates Only quarterly estimates Quarterly and annual estimates Monthly and annual estimates Table number and title Table number and title Summary Tables A 5.1 5.2 Summary National Income and Product Accounts, 1998 Summary of Percent Change From Preceding Period in Real Gross Domestic Product and Related Measures: QA. Summary of Contributions to Percent Change in Real Gross Domestic Product: QA. 3. Government Current Receipts and Expenditures 38 40 40 1. National Product and Income 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 Gross Domestic Product: QA Real Gross Domestic Product: QA Gross Domestic Product by Major Type of Product: QA Real Gross Domestic Product by Major Type of Product: QA Relation of Gross Domestic Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers: QA. Relation of Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers: QA. Gross Domestic Product by Sector: QA Real Gross Domestic Product by Sector: QA Relation of Gross Domestic Product, Gross National Product, Net National Product, National Income, and Personal Income: QA. Relation of Real Gross Domestic Product, Real Gross National Product, and Real Net National Product: QA. Command-Basis Real Gross National Product: QA Net Domestic Product by Sector: A Real Net Domestic Product by Sector: A National Income by Type of Income: QA National Income by Sector, Legal Form of Organization, and Type of Income: A. Gross Product of Corporate Business in Current Dollars and Gross Product of Nonfinancial Corporate Business in Current and Chained Dollars : QA. 41 41 42 42 43 43 43 43 44 44 44 45 45 45 46 47 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18B 3.19 3.20 2. Personal Income and Outlays 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 Personal Income and Its Disposition: QA Personal Consumption Expenditures by Major Type of Product: QA Real Personal Consumption Expenditures by Major Type of Product: QA Personal Consumption Expenditures by Type of Expenditure: A Real Personal Consumption Expenditures by Type of Expenditure: A .... Personal Consumption Expenditures by Type of Product: A Real Personal Consumption Expenditures by Type of Product: A Personal Income by Type of Income: MA Personal Income and Its Disposition: MA Personal Consumption Expenditures by Major Type of Product: MA Real Personal Consumption Expenditures by Major Type of Product: MA. * Table not published in this issue. See the introductory text. 48 49 49 50 51 52 53 54 55 56 56 Government Current Receipts and Expenditures: QA Federal Government Current Receipts and Expenditures: QA State and Local Government Current Receipts and Expenditures: QA .... Personal Tax and Nontax Receipts: A Indirect Business Tax and Nontax Accruals: A Contributions for Social Insurance: A Government Consumption Expenditures and Gross Investment by Type: QA. Real Government Consumption Expenditures and Gross Investment by Type: QA. Government Consumption Expenditures Gross and Net of Sales by Type: A. National Defense Consumption Expenditures and Gross Investment: QA Real National Defense Consumption Expenditures and Gross Investment: QA. Government Transfer Payments to Persons: A Subsidies Less Current Surplus of Government Enterprises: A Social Insurance Funds Current Receipts and Expenditures: A Government Consumption Expenditures and Gross Investment by Function: A. Government Current Expenditures by Function: A Selected Government Current Expenditures by Function: A Relation of Federal Government Current Receipts and Expenditures in the National Income and Product Accounts to the Budget, Fiscal Years: QA. Relation of State and Local Government Current Receipts and Expenditures in the National Income and Product Accounts to Bureau of Census Government Finances Data, Fiscal Years: A. Relation of Commodity Credit Corporation Expenditures in the National Income and Product Accounts to Commodity Credit Corporation Outlays in the Budget: A. 57 58 59 60 60 60 61 62 63 64 65 66 66 66 (*) (*) (*) 67 68 68 4. Foreign Transactions 4.1 4.2 4.3 4.4 4.5B Foreign Transactions in the National Income and Product Accounts: QA Real Exports and Imports of Goods and Services and Receipts and Payments of Income: QA. Exports and Imports of Goods and Services by Type of Product: QA .... Real Exports and Imports of Goods and Services by Type of Product: QA. Relation of Foreign Transactions in the National Income and Product Accounts (NIPA's) to the Corresponding Items in the International Transactions Accounts (ITA's): A. 69 69 70 71 72 April 2000 • SURVEY OF CURRENT BUSINESS Table number and title Table number and title 7.15 5. Saving and Investment 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12 5.13 5.14 5.15 5.16 Gross Saving and Investment: QA Gross and Net Investment by Major Type: A Real Gross and Net Investment by Major Type: A Private Fixed Investment by Type: QA „ Real Private Fixed Investment by Type: QA Private Fixed Investment in Structures by Type: A Real Private Fixed Investment in Structures by Type: A Private Fixed Investment in Equipment and Software by Type: A Real Private Fixed Investment in Equipment and Software fay Type: A Change in Private Inventories by Industry Group: QA Real Change in Private Inventories by Industry Group: QA Private Inventories and Domestic Final Sales of Business by Industry Group: Q. Real Private Inventories and Real Domestic Final Sales of Business by Industry Group: Q. Gross Government Fixed Investment by Type: A Real Gross Government Fixed Investment fay Type: A Changes in Net Stock of Produced Assets (Fixed Assets and Inventories): A. 73 73 73 74 74 75 75 76 76 77 77 78 78 79 79 80 6. Income and Employment by Industry 6.1 C 6.2C 6.3C 6.4C 6.5C 6.6C National Income Without Capital Consumption Adjustment by Industry Group: QA. Compensation of Employees by Industry: A Wage and Salary Accruals by Industry : A Full-Time and Part-Time Employees by Industry: A Full-Time Equivalent Employees by Industry: A Wage and Salary Accruals Per Full-Time Equivalent Employee by In- Self-Employed Persons by Industry Group: A Persons Engaged in Production by Industry: A , Hours Worked by Full-Time and Part-Time Employees by Industry Group: A. 6.10C Employer Contributions for Social Insurance by Industry Group: A 6.11C Other Labor Income by Industry Group and by Type: A 6.12C Nonfarm Proprietors' Income by Industry Group: A 6.13C Noncorporate Capital Consumption Allowances by Industry Group: A 6.14C Inventory Valuation Adjustment to Nonfarm Incomes by Legal Form of Organization and Industry Group: A. 6.15C Net Interest by Industry Group: A 6.16C Corporate Profits by Industry Group: QA 6.17C Corporate Profits Before Tax by Industry: A 6.18C Federal, State, and Local Corporate Profits Tax Liability by Industry: A 6.19C Corporate Profits After Tax by Industry: A 6.20C Net Corporate Dividend Payments by Industry: A 6.21 C Undistributed Corporate Profits by Industry: A 6.22C Corporate Capital Consumption Allowances by Industry: A 7.18B 7.19 82 82 83 83 84 84 85 85 85 86 86 86 87 8.4 8.5 8.6 8.8B 8.9B 8.10 8.11 8.12 8.13 8.14 8.15 8.16 8.17 8.18 8.19 8.20 87 87 88 88 89 89 90 90 8.21 8.22 91 92 8.25 93 8.26 8.23 8.24 7. Quantity and Price Indexes 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 7.9 7.10 7.11 7.12 7.13 7.14 Quantity and Price Indexes for Gross Domestic Product: QA Quantity and Price Indexes for Gross Domestic Product, Final Sales, and Purchases: QA. Quantity and Price Indexes for Gross National Product and CommandBasis Gross National Product: QA. Chain-Type Quantity and Price Indexes for Personal Consumption Expenditures by Major Type of Product: QA. Chain-Type Quantity and Price Indexes for Personal Consumption Expenditures by Type of Product: A. Chain-Type Quantity and Price Indexes for Private Fixed Investment by Type: QA. Chain-Type Quantity and Price Indexes for Private Fixed Investment in Structures by Type: A. Chain-Type Quantity and Price Indexes for Private Fixed Investment in Equipment and Software by Type: A. Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services and for Receipts and Payments of Income: QA. Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product: QA. Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type: QA. Chain-Type Quantity and Price Indexes for National Defense Consumption Expenditures and Gross Investment by Type: A. Chain-Type Quantity and Price Indexes for Gross Government Fixed Investment by Type: A. Chain-Type Quantity and Price Indexes for Gross Domestic Product by Sector: QA. * Table not published in this issue. See the introductory text. 93 94 96 8.27 8.28 97 97 98 Page 105 106 106 107 108 8. Supplemental Tables 8.1 8.2 8.3 8.7 81 dustry: A. 6.7C 6.8C 6.9C 7.16 7.17 Price, Costs, and Profit Per Unit of Real Gross Product of Nonfinancial Corporate Business: QA. Implicit Price Deflators for Private Inventories by Industry Group: Q Chain-Type Quantity Indexes for Gross Domestic Product by Major Type of Product: QA. Chain-Type Quantity Indexes for Motor Vehicle Output: QA Chain-Type Quantity Indexes for Gross and Net Investment by Major Type: A. 37 8.29 Percent Change from Preceding Period in Selected Series: QA Contributions to Percent Change in Real Gross Domestic Product: QA Contributions to Percent Change in Real Personal Consumption Expenditures by Major Type of Product: QA. Contributions to Percent Change in Real Private Fixed Investment by Type: QA. Contributions to Percent Change in Real Exports and in Real Imports of Goods and Services by Type of Product: QA. Contributions to Percent Change in Real Government Consumption Expenditures and Gross Investment by Type: QA. Selected Per Capita Product and Income Series in Current and Chained Dollars: QA. Motor Vehicle Output: QA Real Motor Vehicle Output: QA Farm Sector Output, Gross Product, and National Income: A Real Farm Sector Output, Real Gross Product, and Real Net Product: A Housing Sector Output, Gross Product, and National Income: A Real Housing Sector Output, Real Gross Product, and Real Net Product: A. Consumption of Fixed Capital by Legal Form of Organization: A Capital Consumption Adjustment by Legal Form of Organization and Type of Adjustment: A. Business Transfer Payments by Type: A Supplements to Wages and Salaries by Type: A Rental Income of Persons by Type: A Dividends Paid and Received by Sector: A Interest Paid and Received by Sector and Legal Form of Organization: A. Imputations in the National Income and Product Accounts: A Relation of Consumption of Fixed Capital in the National Income and Product Accounts (NIPA's) to Depreciation and Amortization as Published by the Internal Revenue Service (IRS): A. Relation of Nonfarm Proprietors' Income in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS): A. Relation of Net Farm Income in the National Income and Product Accounts (NIPA's) to Net Farm Income as Published by the U.S. Department of Agriculture (USDA): A. Relation of Corporate Profits, Taxes, and Dividends in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS): A. Relation of Monetary Interest Paid and Received in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS): A. Relation of Wages and Salaries in the National Income and Product Accounts (NIPA's) to Wages and Salaries as Published by the Bureau of Labor Statistics (BLS): A. Comparison of Personal Income in the National Income and Product Accounts (NIPA's) with Adjusted Gross Income as Published by the Internal Revenue Service (IRS): A. Capital Transfers (Net): A 109 111 112 112 113 113 114 114 115 116 116 116 116 117 117 117 117 118 118 118 119 121 121 121 121 122 122 122 122 9. Seasonally Unadjusted Estimates 99 9.1 9.2 101 9.3 103 9.4 104 9.5 105 9.6 Gross Domestic Product, Not Seasonally Adjusted: Q Personal Consumption Expenditures by Major Type of Product, Not Seasonally Adjusted: Q. Federal Government Current Receipts and Expenditures, Not Seasonally Adjusted: Q. State and Local Government Current Receipts and Expenditures, Not Seasonally Adjusted: Q. Foreign Transactions in the National Income and Product Accounts, Not Seasonally Adjusted: Q. Corporate Profits with Inventory Valuation Adjustment, Not Seasonally Adjusted: Q. 123 123 124 124 125 125 38 SURVEY OF CURRENT BUSINESS • April 2000 Summary Tables. Table A.—Summary National Income and Product Accounts, 1998 [Billions of dollars] Account 1.—National Income and Product Account Line Line 5,011.2 4,189.5 4,186.0 3.5 821.7 306.0 515.7 Compensation of employees Wage and salary accruals Disbursements (2-7) Wage accruals less disbursements (3-6 and 5-5) Supplements to wages and salaries Employer contributions for social insurance (3-16) Other labor income (2-8) Proprietors' income with inventory valuation and capital consumption adjustments (2-9) 606.1 Rental income of persons with capital consumption adjustment (2-10) 137.4 11 12 13 14 15 16 17 18 Corporate profits with inventory valuation and capital consumption adjustments Corporate profits with inventory valuation adjustment Profits before tax Profits tax liability (3-13) Profits after tax Dividends (2-12) Undistributed profits Inventory valuation adjustment Capital consumption adjustment 848.4 802.8 781.9 240.2 541.7 348.6 193.1 20.9 19 Net interest (2-15) 20 National income 21 22 23 24 25 Business transfer payments To persons (2-19) > To the rest of the world (4-8) Indirect business tax and nontax liability (3-14) Less: Subsidies less current surplus of government enterprises (3-7) 26 27 28 29 30 Consumption of fixed capital (5-7) Private (5-8) Government (5-9) General government (5-10) Government enterprises (5-11) 31 Gross national income 32 Less: Income receipts from the rest of the world (4-2) 33 Plus: Income payments to the rest of the world (4-4) 34 Gross domestic income 35 Statistical discrepancy (5-13) 9 10 45.6 36 37 38 39 Personal consumption expenditures (2-3) Durable goods Nondurable goods Services 5,848.6 698.2 1,708.9 3,441.5 40 41 42 43 44 45 46 Gross private domestic investment (5-1) Fixed investment ..... Nonresidential Structures Equipment and software Residential Change in private inventories 1,531.2 1,460.0 1,091.3 272.8 47 48 49 Net exports of goods and services Exports (4-1) Imports (4-3) -149.6 966.3 1,115.9 50 Government consumption expenditures and gross investment (3-1 and 5-2) Federal National defense Nondefense State and local 1,529.7 538.7 348.6 190.1 991.0 GROSS DOMESTIC PRODUCT 8,759.9 51 52 53 54 818.5 368.7 71,2 435.7 7,038.8 38.1 28.8 9.3 677.0 20.8 1,064.6 878.4 186.2 158.6 27.6 8,797.6 285.3 295.2 8,807.5 -47.6 GROSS DOMESTIC PRODUCT 8,759.9 Account 2.—Personal Income and Outlay Account Line Line Personal tax and nontax payments (3-12) 1,072.6 7 Wage and salary disbursements (1-3) Personal outlays Personal consumption expenditures (1-36) Interest paid by persons (2-17) Personal transfer payments to the rest of the world (net) (4-6), 6,056.6 5,848.6 185.7 22.3 8 Other labor income (1-7) 515.7 9 Proprietors' income with inventory valuation and capital consumption adjustments (1-8) 606.1 229.7 10 Rental income of persons with capital consumption adjustment (1-9) 137.4 11 12 13 Personal dividend income Dividends (1-15) Less: Dividends received by government (3-6) 348.3 348.6 .3 14 15 16 17 Personal interest income Net interest (1-19) Net interest paid by government (3-5) Interest paid by persons (2-4) 897.8 435.7 276.4 185.7 18 19 20 Transfer payments to persons From business (1-22) From government (3-3) 983.6 28.8 21 Less: Personal contributions for social insurance (3-17) Personal saving (5-4) PERSONAL TAXES, OUTLAYS, AND SAVING 7,358.9 PERSONAL INCOME 4,186.0 954.8 315.9 7,358.9 SURVEY OF CURRENT BUSINESS April 2000 • 39 Table A.—Summary National Income and Product Accounts, 1998—Continued [Billions of dollars] Account 3.—Government Receipts and Expenditures Account Line Line Consumption expenditures (1-50) Transfer payments To persons (2-20) To the rest of the world (net) (4-7) Net interest paid (2-16) Less: Dividends received by government (2-13) Less: Wage accruals less disbursements (1-4) 10 11 12 Personal tax and nontax payments (2-1) 965.2 954.8 10.4 13 Corporate profits tax liability (1-13) 240.2 14 Indirect business tax and nontax liability (1-24) 677.0 276.4 15 16 17 Contributions for social insurance Employer (1-6) Personal (2-21) 621.9 306.0 315.9 .3 Subsidies less current surplus of government enterprises (1-25) 1,072.6 1,261.0 20.8 .0 Current surplus or deficit (-), national income and product accounts (5-12) Federal State and local GOVERNMENT CURRENT EXPENDITURES AND SURPLUS 88.7 46.9 41.7 GOVERNMENT CURRENT RECEIPTS 2,611.8 2,611,8 Account 4.—Foreign Transactions Account Line Line Exports of goods and services (1-48) Income receipts (1-32) 966.3 Imports of goods and services (1-49) 285.3 Income payments (1-33) 1,115.9 295,2 Transfer payments to the rest of the world (net) From persons (net) (2-5) From government (net) (3-4) From business (1-23) 42.0 223 1&.4 9& Net foreign investment (5-3) RECEIPTS FROM THE REST OF THE WORLD 1,251.6 -201.5 PAYMENTS TO THE REST OF THE WORLD 1,251.6 Account 5.—Gross Saving and Investment Account Line Line Gross private domestic investment (1-40) Gross government investment (1-50) Net foreign investment (4-9) 1,531.2 Personal saving (2-6) 268.7 Wage accruals less disbursements (private) (1-4) -201.5 Undistributed corporate profits with inventory valuation and capital consumption adjustments 7 8 9 10 11 12 13 GROSS INVESTMENT 1,598.4 NOTE.—Numbers in parentheses indicate accounts and items of counterentry in the accounts. For example, line 7 of account 1 is shown as "other labor income (2-8)"; the counterentry is shown in account 2, line 8. ............ Consumption of fixed capital (1-26) Private (1-27) Government (1-28) General government (1-29) Government enterprises (1-30) Government current surplus or deficit (-), national income and product accounts (3-9) Statistical discrepancy (1-35) GROSS SAVING AND STATISTICAL DISCREPANCY 229.7 3.5 259.6 1,064.6 878.4 186.2 158.6 27.6 88.7 -47.6 1,598.4 40 • April 2000 SURVEY OF CURRENT BUSINESS Table S.1.—Summary of Percent Change From Preceding Period in Real Gross Domestic Product and Related Measures [Percent] Seasonally adjusted at annual rates Line Gross domestic product Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment and software Residential Change in private inventories , Net exports of goods and services Exports Goods Services Imports Goods Services . . . Government consumption expenditures and gross investment Federal National defense Nondefense State and local Addenda: Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers Gross national product Disposable personal income 1995 1996 1997 1998 1997 1999 1999 1998 2.7 3.6 4.2 4.3 4.2 4.5 4.9 3.8 6.9 2.2 3.8 5.9 3.7 1.9 5.7 7.3 3.0 4.6 3.0 2.7 3.2 5.6 2.9 2.8 3.4 6.6 2.9 4.9 6.4 20.2 5.7 4.2 5.8 16.9 5.8 3.7 6.1 11.2 6.7 4.9 4.0 4.1 2.4 4.7 4.6 3.1 4.4 10.9 3.8 3.4 1.5 11.3 4.0 4.1 5.3 11.5 5.4 4.0 6.5 12.4 8.9 4.2 5.1 9.1 3.3 5.2 4.9 7.7 3.6 5.0 5.9 13.0 7.6 3.7 3.0 6.0 9.8 4.8 11.5 -3.6 9.0 9.3 10.0 7.1 11.0 7.4 11.5 8.5 10.7 8.5 11.5 2.3 11.7 11.8 12.7 4.1 15.8 9.2 5.8 8.1 8.3 -2.4 12.0 7.4 14.0 7.9 9.6 8.0 10.1 3.0 22.0 8.6 9.9 -4.0 15.2 4.7 1.0 12.0 16.0 11.2 17.7 33.4 23.4 26.7 5.7 34.7 14.0 -4.7 12.5 12.1 7.1 13.8 13.6 10.4 2.0 0 -6.6 2.4 8.0 11.5 13.8 15.3 5.8 18.6 9.8 3.6 9.1 7.8 -5.8 12.5 12.9 -2.1 6.6 7.0 -5.3 11.2 5.5 13.6 6.8 10.9 -3.8 15.7 -3.8 10.0 2.6 2.9 -.5 4.0 1.8 10.3 11.9 6.4 8.2 9.0 4.1 8.2 8.7 6.8 8.6 9.4 4.8 12.5 14.5 7.6 13.7 14.2 11.2 2.2 2.1 2.5 11.6 11.7 10.8 3.8 4.0 3.2 11.7 12.7 6.9 8.3 14.4 -4.9 15.5 14.6 20.6 15.9 18.3 10.4 19.1 21.2 8.6 11.3 13.0 7.2 17.6 17.0 20.7 1.7 3.5 -2.7 5.2 5.2 5.3 -1.5 -2.8 1.6 14.4 14.0 16.7 -3.9 -8.8 9.0 13.0 13.6 9.7 -1.6 1.6 -4.5 5.2 4.9 6.4 16.3 19.4 9.2 10.8 12.8 1.6 -5.5 -9.3 4.1 12.5 12.6 11.9 4.0 4.3 3.2 14.4 15.5 8.9 11.5 16.9 0 14.9 17.3 3.6 10.1 11.1 7.6 8.7 9.7 3.4 .5 -2.7 -3.7 -.5 2.5 1.1 2.2 -.2 -2.5 4.5 3.7 1.7 1.6 -1.4 -.2 -3.6 3.4 -.1 -4.2 -2.4 -7.7 2.3 -17.0 5.4 4.1 6.0 11.9 11.1 13.2 3.0 1.3 -2.3 7.0 .9 3.2 -11.3 15.8 4.1 5.6 9.8 9.6 10.2 3.3 -1.0 -9.8 -1.9 3.7 2.8 1.8 4.7 4.2 1.5 -2.9 -1.3 0 2.3 -17.4 3.3 2.9 3.9 -2.9 17.9 2.4 5.1 -.5 -4.0 6.1 8.2 1.3 2.1 -2.6 10.9 4.5 4.1 11.2 -7.1 4.8 9.3 14.7 17.2 10.3 6.4 3.1 2.5 3.0 3.6 3.7 3.7 3.8 4.5 4.0 4.3 5.4 5.4 4.5 5.1 5.5 2.9 5.4 3.3 5.6 4.6 6.4 5.1 4.2 7.1 2.4 4.6 3.2 6.3 5.5 5.8 4.6 5.8 6.7 3.4 3.2 4.7 4.5 6.2 5.1 6.0 7.2 5.9 2.7 2.6 3.5 2.5 4.1 3.3 4.1 4.1 4.0 4.0 5.2 3.9 3.5 3.4 2.0 3.8 2.6 4.5 6.3 4.8 3.8 4.1 1.9 3.2 5.6 2.9 6.4 4.7 5.7 7.3 -.9 -.9 -1.5 -.2 3.0 20.4 5.0 1.5 NOTE.—Percent changes from preceding period in the current-dollar and price measures for these series are shown in table 8.1. Table S.2.—Summary of Contributions to Percent Change in Real Gross Domestic Product Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1998 1999 Percent change at annual rate: Gross domestic product 2.2 3.8 5.9 3.7 3.89 1.24 1.15 1.51 4.00 .84 1.28 1.88 2.67 .33 .49 1.85 3.14 1.51 4.28 .96 1.69 1.63 3.36 .71 .64 2.00 3.33 .62 .73 1.98 4.07 1.03 1.51 1.53 1.30 .63 .38 .13 .24 .26 .66 5.04 3.45 2.91 -.85 1.95 1.42 1.74 .22 1.21 .53 -2.80 -.21 .22 .33 1.40 .64 1.49 .95 -.18 1.13 .54 -.85 -.36 1.10 .86 -.16 1.02 .24 -1.46 2.26 1.16 1.33 -.11 1.44 -.17 1.72 .48 .39 .18 2.73 .54 1.59 1.94 2.20 1.79 .18 1.61 .41 -.26 -.45 .20 .29 -.09 -.65 -.54 -.11 -1.93 -.16 -.22 .06 -1.77 -1.44 -.33 -2.01 -.45 -.73 .29 -1.56 -1.37 -.20 -.82 -.17 .12 -.29 -.65 -.52 -.13 -1.35 .42 .32 -1.77 -1.59 -.19 -.73 1.19 1.19 0 -1.92 -1.84 -.08 1.08 .83 .24 -1.20 -1.12 -.01 -.28 -.10 -.18 .27 -.16 -.64 -.76 .12 .48 1.03 .69 .42 .28 .34 .24 -.14 .27 -.41 .38 .23 .13 -.10 .23 .10 .81 .26 .42 -.16 .55 1.61 .87 .65 .22 .75 2.7 3.6 4.2 4.3 4.2 4.5 4.9 3.8 3.0 2.00 .37 .60 1.04 2.14 .44 .60 1.10 2.30 .51 .59 1.20 3.25 .86 .79 1.59 3.45 .81 1.05 1.59 2.93 .81 .77 1.34 1.05 -.11 -.03 1.19 4.16 1.42 1.11 1.63 2.17 .38 .06 1.73 .47 .88 1.37 1.39 1.10 .20 .91 .28 -.02 1.82 1.31 1.22 .25 .97 .09 .50 1.93 1.86 1.49 .13 1.37 .37 .07 .99 .97 .83 -.14 .96 .15 .01 2.12 3.32 1.30 1.12 -.12 1.24 .19 2.02 .17 1.80 1.77 .32 1.45 .03 -1.63 -.15 -.28 1.37 1.12 .25 -1.65 -1.18 .25 .17 .08 -.85 .92 -1.43 -.22 -1.21 -.22 -1.09 .48 .37 .10 -1.57 -1.43 -.14 1.09 -.17 -1.78 -1.40 -.38 -.47 1.73 1.39 .34 -2.20 -2.03 -.17 -.79 1.27 1.03 .24 -2.07 -1.68 .31 -.06 -.08 .02 .37 .80 .28 .19 .10 .52 .28 -.19 -.52 .33 .47 1.00 .62 .40 .23 .38 6.9 1.9 Percentage points at annual rates: Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment and software Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services ..ZZ.Z Z .". '. .. 1.03 .13 .90 -.15 -.41 .11 1.06 .86 .20 ... ... .... Government consumption expenditures and gross investment Federal National defense Nondefense State and local -.95 -.87 -.08 .22 -1.04 -.94 -.09 .09 -.20 -.19 -.01 .28 .21 -.06 -.06 0 .27 .41 -.01 -.11 .10 .42 -1.43 NOTE.—More detailed contributions to percent change in real gross domestic product are shown in table 8.2. Contributions to percent change in major components of real gross domestic product are shown in tables 8.3 through 8.6. 1.19 1.07 .24 .83 .12 .94 -.39 .30 -.09 -.01 -.08 .39 .34 .01 .33 1.67 1.38 -2.13 -1.30 -.04 -.61 -.74 .13 -1.53 -1.28 -.24 .53 .24 -.12 .36 -.03 -.16 .13 .29 .91 .29 -1.34 .10 -.01 .40 .09 1.24 -.12 April 2000 • SURVEY OF CURRENT BUSINESS 41 1. National Product and IncomeTable 1.1.—Gross Domestic Product [Billions of dollars] Seasonally adjusted at annual rates Line 1997 1995 1998 1997 1999 1999 1998 II Gross domestic product Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidentiaf Structures Equipment and software Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment. Federal National defense Nondefense State and local 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,947.6 9,072.7 9,146.2 9,297.8 9,507.9 4,969.0 5,237.5 5,524.4 5,848.6 6,257.3 5,430.8 5,466.3 5,569.1 5,631.3 5,714.7 5,816.2 5,973.7 6,090.8 6,200.8 6,303.7 6,434.1 589.7 1,497.3 2,882.0 616.5 1,574.1 3,047.0 642.9 1,641.7 3,239.8 698.2 1,708.9 3,441.5 758.6 1,843.1 3,655.6 636.1 1,630.5 3,164.2 627.8 1,627.1 3,211.4 651.9 1,652.3 3,265.0 655.8 1,657.1 3,318.5 679.2 1,674.6 3,360.9 693.9 1,701.2 3,421.1 1,716.6 3,476.1 722.8 1,742.9 3,508.0 739.0 1,787.8 3,564.0 751.6 1,824.8 3,624.3 761.8 1,853.9 3,688.0 782.1 1,905.8 3,746.2 1,143.8 1,242.7 1,383.7 1,531.2 1,622.7 1,327.0 1,392.2 1,395.9 1,419.6 1,514.3 1,495.0 1,535.3 1,580.3 1,594.3 1,585.4 1,635.0 1,675.8 1,110.7 825.1 204.6 620.5 285.6 33.0 1,212.7 899.4 225.0 674.4 313.3 30.0 1,315.4 986.1 254.1 732.1 329.2 68.3 1,460.0 1,091.3 272.8 818.5 368.7 71.2 1,578.0 1,166.7 273.4 893.4 411.3 44.6 1,274.1 952.7 247.6 705.2 321.4 52.9 1,299.6 972.7 247.8 724.9 326.8 92.6 1,338.3 1,007.7 257.8 749.9 330.7 57.6 1,349.4 1,011.4 263.1 748.3 338.0 70.2 1,415.4 1,065.9 267.4 798.4 1,454.2 1,090.8 274.0 816.8 363.4 40.8 1,461.7 1,087.2 271.7 815.4 374.5 73.7 1,508.9 1,121.4 278.0 843.4 387.5 71.4 1,543.3 1,139.9 274.7 865.2 403.4 51.0 1,567.8 1,594.2 1,181.6 272.1 909.5 412.7 40.8 1,606.8 1,190.0 274.1 916.0 416.7 69.1 -84.3 -89.0 -88.3 -149.6 -253.9 -87.7 -77.5 -90.6 -97.4 -117.4 -153.9 -165.7 -161.2 -201.6 -245.8 -278.2 -290.1 818.6 583.8 234.7 902.8 757.6 145.2 874.2 618.4 255.8 963.1 808.3 154.8 968.0 689.0 279.0 1,056.3 885.1 171.2 966.3 681.3 285.1 1,115.9 930.4 185.5 998.3 965.3 685.7 279.6 1,042.8 874.1 168.7 704.8 283.8 1,079.2 904.3 174.9 988.6 706.0 282.6 1,086.0 909.7 176.3 974.3 692.8 281.5 1,091.7 912.8 178.9 960.1 671.8 288.2 1,114.0 928.9 185.1 949.1 667.2 281.9 1,114.8 927.2 187.7 981.8 693.3 288.6 1,143.1 952.6 190.4 674.3 292.6 1,168.5 974.3 194.2 978.2 680.5 1,008.5 708.8 297.7 299.7 1,252.2 1,049.1 203.1 929.6 659.4 270.2 1,017.3 852.3 165.0 1,224.0 1,022.3 201.7 1,286.6 1,079.3 207.4 1,039.5 732.3 , 307.2 1,329.6 1,120.5 1,372.0 1,421.9 1,481.0 1,529.7 1,630.1 1,455.8 1,478.6 1,490.1 1,499.5 1,499.0 1,526.5 1,538.7 1,554.8 1,589.1 1,605.9 1,637.2 1,688.0 521.5 350.6 170.9 850.5 531.6 357.0 174.6 890.4 537.8 352.5 185.3 943.2 538.7 348.6 190.1 991.0 570.6 364.5 206.1 1,059.4 530.2 347.0 183.2 925.6 543.0 354.9 188.1 935.6 540.9 354.5 186.4 949.2 537.1 353.6 183.5 962.3 526.1 338.9 187.2 972.9 542.2 347.9 194.3 984.2 539.7 354.7 185.0 546.7 352.9 557.4 355.8 201.6 1,031.8 561.6 354.3 207.3 1,044.3 569.8 365.4 204.4 593.6 382:6 211.1 1,094.4 699.0 299.3 349.5 8,797.9 193.8 1,008.1 1,155.4 272.5 882.9 412.4 17.6 1,067.4 209.0 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Table 1.2.—Real Gross Domestic Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1997 1995 1998 1997 1999 1999 1998 IV III Gross domestic product Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment and software Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment. Federal National defense Nondefense State and local Residual 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 8,018.7 8,115.4 8,192.2 8,253.2 8,391.1 8,436.3 8,515.7 8,639.5 8,717.6 8,758.3 8,879.8 9,037.2, 5,075.6 5,237.5 5,417.3 5,681.8 5,983.6 5,349.2 5,369.3 5,453.1 5,497.3 5,575.1 5,658.8 5,714.2 5,779.3 5,871.3 5,944.5 6,015.7 6,102,9 583.5 1,529.0 2,963.4 616.5 1,574.1 3,047.0 657.4 1,619.9 3,140.3 731.5 1,685.3 3,268.0 815.7 1,776.1 3,400.1 642.1 1,609.0 3,098.2 639.7 1,608.2 3,121.3 669.7 1,630.7 3,153.5 678.0 1,631.8 3,188.1 704.9 1,654.9 3,217.2 723.9 1,681.9 3,255.6 731.2 1,692.0 3,293.3 766.0 1,712.6 3,305.9 788.8 1,749.5 3,339.8 806.1 1,763.7 3,382.3 821.2 1,779.3 3,423.4 846.7 •< 1,812.0 3,454.7 1,140.6 1,242.7 1,385.8 1,547.4 1,637.7 1,326.5 1,394.1 1,397.6 1,424.9 1,531.5 1,513.1 1,551.1 1,593.9 1,608.2 1,599.8 1,651.6 1,691.4 1,109.2 817.5 210.1 607.6 291.7 30.4 1,212.7 899.4 225.0 674.4 313.3 30.0 1,316.0 995.7 244.0 751.9 320.6 69.1 1,471.8 1,122.5 254.1 870.6 350.2 74.3 1,590.5 1,215.8 248.1 974.9 376.1 42.2 1,274.1 957.9 242.0 715.8 316.3 51.5 1,300.6 980.8 239.5 741.5 320.0 93.1 1,337.9 1,018.0 245.9 772.3 320.5 59.2 1,351.3 1,026.1 248.6 777.8 325.7 72.7 1,424.2 1,088.6 252.1 837.9 336.5 107.3 1,466.7 1,120.2 256.4 865.5 347.4 43.1 1,474.0 1,120.3 252.1 870.6 354.2 76.1 1,522.5 1,160.8 255.7 908.5 362.6 70.7 1,555.9 1,182.7 251.9 935.7 373.7 50.1 1,581.0 1,202.9 248.5 1,607.3 1,234.3 246.1 996.6 375.1 38.0 1,617.8 1,243.2 245.8 1,006.4 376.8 66.7 -78.4 -89.0 -112.1 -217.6 -323.0 -92.6 -103.2 -121.3 -131.5 -174.5 -221.0 -240.3 -234.4 -286.6 -321.1 -340.4 -544.1 808.2 568.8 239.5 886.6 739.1 147.7 874.2 618.4 255.8 963.1 808.3 154.8 983.1 708.1 275.2 1,095.2 923.2 172.1 1,004.6 722.8 282.0 1,042.3 751.9 1,008.4 731.0 277.8 1,139.9 961.2 178.7 1,004.5 725.9 279.0 1,179.0 993.2 185.8 1,024.3 712.0 278.8 1,231.0 1,037.9 193.1 734.1 1,052.6 763.3 .1,078.2 783.7 285.0 1,215.6 1,025.5 190.1 1,028.7 744.2 285.0 1,263.1 1,069.7 193.8 1,014.3 726.4 287.9 295.5 1,300.9 1,102.0 199.4 290.1 1,345.4 1,142.5 203.7 290.2 203.9 1,004.2 724.7 279.7 1,125.5 949.1 176.4 990.6 1,365.4 1,162.5 977.6 702.9 274.9 1,080.8 912.6 168.3 994.5 709.3 1,222.2 942.1 674.0 268.2 1,034.7 869.8 164.9 1,393.0 1,188.9 205.5 1,422.3 1,216.8 207.2 1,406.4 1,421.9 1,453.7 1,478.8 1,534.1 1,436.0 1,455.8 1,461.8 1,461.4 1,457.6 1,479.1 1,483.9 1,494.7 1,513.4 1,518.3 1,535.3 1,569.6 536.5 361.9 174.6 531.6 357.0 174.6 890.4 530.7 348.3 182.5 923.0 525.9 341.7 184.2 952.7 540.8 347.8 192.9 993.1 523.8 342.9 180.9 912.2 536.2 350.8 185.3 919.6 534.4 350.7 183.6 927.3 528.6 348.6 180.0 932.7 515.2 332.7 182.4 942.2 529.8 341.6 188.1 949.1 526.8 347.5 179.4 956.9 531.9 344.9 186.9 962.6 531.2 341.4 189.7 981.8 534.1 339.2 194.7 984.0 539.5 348.3 191.1 995.5 558.3 362.4 195.9 1,011.1 -.2 -.2 -.5 -.1 -2.9 5.0 2.6 -2.6 2.3 8.1 6.1 3.5 1,031.6 190.7 290.9 4.8 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. 960.9 378.8 14.0 Percent changes from preceding period for selected items in this table are shown in table 8.1; contributions to the percent change in real gross domestic product are shown in table 8.2. Chain-type quantity indexes for the series in this table are shown in table 7.1. 42 • April 2000 SURVEY OF CURRENT BUSINESS Table 1.3.—Gross Domestic Product by Major Type of Product [Billions of dollars] Seasonally adjusted at annual rates Line Gross domestic product Final sales of domestic product . Change in private inventories 1995 1997 1997 1999 1998 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,297.8 9,507.9 7,367.5 33.0 7,783.2 30.0 8,232.4 68.3 8,688.7 71.2 9,211.5 44.6 8,073.0 52.9 8,166.9 92.6 8,306.9 57.6 8,382.8 70:2 8,511.7 98.9 8,642.9 40.8 8,724.2 73.7 8,876.2 71.4 9,021.6 51.0 9,128.6 17.6 9,257.0 40.8 9,438.8 69.1 2,798.1 2,951.3 3,142.4 3,310.3 3,482.2 3,079.2 3,137.2 3,166.3 3,187.0 3,287.0 3,258.9 3,305.6 3,389.8 3,416.6 3,424.2 3,494.0; 3,593.7 Final sales Change in private inventories . 2,765.1 33.0 2,921.3 30.0 3,074.1 68.3 3,239.1 71.2 3,437.5 44.6 3,026.2 52.9 3,044.6 92.6 3,108.7 57.6 3,116.8 70.2 3,188.0 98.9 3,218.1 40.8 3,231.9 73.7 3,318.4 71.4 3,365.6 51.0 3,406.6 17.6 3,453.2 40.8 3,524.6 69.1 Durable goods Final sales Change in private inventories , 1,273.3 1,239.8 33.6 1,351.0 1,331.9 19.1 1,460.3 1,567.8 1,528.9 38.9 1,644.5 1,618.7 25.8 1,414.8 1,386.8 28.0 1,461.9 1,407.8 54.1 1,477.5 1,453.9 23.6 1,487.2 1,562.3 1,450.7 36.5 1,506.0 56.3 1,539.3 1,518.2 21.1 1,559.7 1,519.9 39.8 1,610.0 1,571.4 38.6 1,608.3 1,584.3 24.1 1,607.9 1,601.7 6.3 1,654.0 1,631.1 23.0 1,707.6 1,657.8 Nondurable goods Final sales Change in private inventories . 1,524.8 1,682.1 1,649.3 1,742.5 1,664.4 1,639.5 1,745.9 1,712.1 1,779.8 1,636.8 1,688.7 1,654.8 1,719.6 1,710.2 1,837.7 1,818.8 1,675.3 1,525.3 1,600.3 1,589.4 1,808.3 1,781.3 1,816.3 1,804.9 1,840.0 1,822.2 1,886.1 1,866.9 -.5 10.9 32.8 32.2 18.9 38.5 34.0 3,985.1 4,191.0 4,434.7 4,664.5 4,932.0 4,338.3 4,407.6 4,467.8 617.3 670.9 723.7 785.1 842.0 708.4 714.7 730.5 741.2 270.3 7,130.3 275.6 7,537.6 293.5 8,007.3 313.3 8,446.7 342.4 8,913.7 282.1 7,843.8 282.7 7,976.8 301.6 8,062.9 307.3 8,145.7 Goods Services Structures Addenda: Motor vehicle output Gross domestic product less motor vehicle output. 1,424.8 35.6 24.9 1,666.1 33.7 4,524.9 1,724.6 1,682.0 42.6 1,699.9 33.9 19.7 1,747.0 32.8 17.8 49.8 19.2 27.0 11.4 4,563.8 4,646.1 4,700.4 4,747.9 4,820.7 4,885.5 4,963.7 5,058.2 759.8 778.8 791.9 809.9 835.3 836.5 840.1 856.0 304.7 8,305.9 296.9 8,386.8 306.1 8,491.7 345.3 8,602.2 325.0 8,747.6 330.9 8,815.3 355.0 8,942.8 358.8 9,149.1 NOTE.—Percent changes from preceding period for gross domestic product and for final sales of domestic product are shown in table 8.1. Table 1.4.—Real Gross Domestic Product by Major Type of Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line Gross domestic product Final sales of domestic product . Change in private inventories 1997 1995 1997 1998 1999 1998 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 8,018.7 8,115.4 8,192.2 8,253.2 8,391.1 8,436.3 8,515.7 7,512.2 30.4 7,783.2 30.0 8,075.5 69.1 8,420.8 74.3 8,800.5 42.2 7,966.4 51.5 8,022.7 93.1 8,132.6 59.2 8,180.3 72.7 8,285.5 107.3 8,389.5 43.1 8,439.4 76.1 8,568.7 70.7 8,717.6 8,758.3 8,879.8 9,037.2 8,665.0 50.1 8,737.5 14.0 8,835.0 38.0 8,964.6 66.7 5.5 .8 -.4 .4 .2 3.7 .2 .1 2.5 6.8 2,813.8 2,951.3 3,141.3 3,330.5 3,509.0 3,071.4 3,130.2 3,167.5 3,196.2 3,302.8 3,277.8 3,323.9 3,417.4 3,442.1 3,446.1 3,525.3 3,622.5 Final sales Change in private inventories . 2,782.3 30.4 2,921.3 30.0 3,071.6 69.1 3,255.1 74.3 3,462.0 42.2 3,018.9 51.5 3,036.8 93.1 3,107.9 59.2 3,122.7 72.7 3,195.9 107.3 3,231.5 43.1 3,246.9 76.1 3,346.2 70.7 3,390.0 50.1 3,427.5 14.0 3,481.3 38.0 3,549.1 66.7 Durable goods Final sales Change in private inventories . 1,264.8 1,231.8 33.3 1,351.0 1,331.9 19.1 1,481.0 1,625.0 1,585.1 1,742.1 1,715.3 26.7 1,420.7 1,477.5 1,422.9 54.3 1,503.6 1,479.8 23.8 1,522.1 1,485.0 1,604.9 1,547.4 1,589.3 1,619.1 1,578.1 40.7 1,686.7 1,693.5 1,646.9 39.6 1,668.7 25.1 1,699.5 1,693.5 6.5 1,758.1 1,734.2 23.8 1,817.3 1,765.0 51.3 Nondurable goods Final sales Change in private inventories . 1,549.3 1,551.0 1,771.8 1,751.6 1,650.7 1,690.5 1,665.7 1,734.6 1,703.1 1,750.4 1,650.5 1,707.1 1,671.2 1,752.0 1,629.1 1,674.9 1,638.7 1,700.0 1,626.4 1,653.2 1,614.2 1,664.6 1,589.4 1,725.2 1,738.5 1,772.9 1,752.9 1,811.9 1,789.8 23.3 38.8 35.4 35.8 50.2 21.8 35.3 31.0 7.5 14.2 15.7 Residual. Goods Services .... Structures . 1.2 -3.6 10.9 4,191.0 632.9 670.9 0 275.3 7,268.5 .2 1,445.0 35.8 1,600.3 4,097.5 Residual Addenda: Motor vehicle output Gross domestic product less motor vehicle output. 0 275.6 7,537.6 1,627.1 33.3 4,304.2 700.2 39.7 1,708.1 1,672.6 34.6 28.1 15.6 57.1 1,568.0 21.3 25.0 5.9 4,579.1 4,252.8 4,291.0 4,322.5 4,350.7 4,367.6 4,422.4 4,451.6 4,475.5 4,509.9 4,551.2 4,600.3 4,654.9 738.9 766.4 695.0 695.1 703.2 707.6 724.2 737.5 742.5 751.7 770.2 764.7 760.9 769.7 -6.5 .6 -1.6 -1.5 -5.9 -.4 -3.7 -8.3 -6.5 -3.6 -6.5 345.2 8,504.0 280.0 7,738.6 307.6 8,083.7 301.1 8,135.1 305.7 8,210.0 348.6 8,292.4 315.7 8,180.3 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line following change in private inventories is the difference between gross domestic product and the sum of final sales of domestic product and of change in private inventories; the residual line following structures 36.9 6.8 4,429.3 -.8 293.7 7,851.2 1,392.5 -1.7 282.8 7,832.4 301.2 7,891.1 311.0 7,942.6 329.0 8,389.0 335.7 8,423.2 355.8 8,525.6 -9.2 360.3 8,678.4 is the difference between gross domestic product and the sum of the detailed lines of goods, of services, and of structures. Percent changes from preceding period for gross domestic product and for final sales of domestic product are shown in table 8.1 Chain-type quantity indexes for the series in this table are shown in table 7.17. April 2000 • 43 SURVEY OF CURRENT BUSINESS Table 1.5.—Relation of Gross Domestic Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 IV I 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,297.8 9,507.9 818.6 902.8 874.2 963.1 968.0 1,056.3 966.3 1,115.9 998.3 1,252.2 929.6 1,017.3 965.3 1,042.8 988.6 1,079.2 988.6 1,086.0 974.3 1,091.7 960.1 1,114.0 949.1 1,114.8 981.8 1,143.1 966.9 1,168.5 978.2 1,224.0 1,008.5 1,286.6 1,039.5 1,329.6 7,484.8 7,902.1 8,389.1 8,909.5 9,510.0 8,213.6 8,337.0 8,455.1 8,550.4 8,728.0 8,837.7 8,963.6 9,108.8 9,274.2 9,392.0 9,575.9 9,798.0 33.0 30.0 68.3 71.2 44.6 52.9 92.6 57.6 70.2 98.9 40.8 73.7 71.4 51.0 17.6 40.8 69.1 7,451.7 7,872.1 8,320.7 8,838.3 9,465.4 8,160.7 8,244.4 8,397.6 8,480.2 8,629.0 8,796.9 9,037.4 9,223.2 9,374.4 9,535.1 9,728.9 I Gross domestic product Less: Exports of goods and services Plus: Import of goods and services Equals: Gross domestic purchases Less: Change in private inventories Equals: Final sales to domestic purchasers IV NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Table 1.6.—Relation of Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1997 1999 1999 III Gross domestic product Less: Exports of goods and services Plus: Imports of goods and services Equals: Gross domestic purchases Less: Change in private inventories Equals: Final sales to domestic purchasers . 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 8,018.7 8,115.4 8,192.2 8,253.2 8,391.1 8,436.3 8,515.7 8,639.5 8,717.6 8,758.3 8,879.8 9,037.2 808.2 886.6 874.2 963.1 983.1 1,095.2 1,004.6 1,222.2 1,042.3 1,365.4 942.1 1,034.7 977.6 1,080.8 1,004.2 1,125.5 1,008.4 1,139.9 1,004.5 1,179.0 994.5 1,215.6 990.6 1,231.0 1,028.7 1,263.1 1,014.3 1,300.9 1,024.3 1,345.4 1,052.6 1,393.0 1,078.2 1,422.3 7,621.8 7,902.1 8,255.9 8,704.8 9,151.2 8,111.5 8,218.1 8,311.7 8,382.3 8,560.7 8,746.0 8,863.7 9,059.5 9,197.8 9,358.6 30.4 30.0 69.1 74.3 42.2 51.5 93.1 59.2 72.7 107.3 43.1 76.1 70.7 50.1 14.0 38.0 66.7 7,590.3 7,872.1 8,629.8 9,103.6 8,059.2 8,125.4 8,252.2 8,309.4 8,454.8 8,601.9 8,669.5 8,792.7 8,936.2 9,039.0 9,153.1 9,286.0 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. Percent changes from preceding period for selected series in this table are shown in table 8.1. Chain-type quantity indexes for selected series in this table are. shown in table 7.2. Table 1.7.—Gross Domestic Product by Sector [Billions of dollars] Seasonally adjusted at annual rates Line Gross domestic product . Business1 Nonfarm 2 Nonfarm less housing . Housing Farm Households and institutions . Private households Nonprofit institutions .... General government3 ... Federal State and local 1995 1996 1997 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,297.8 9,507.9 6,190.1 6,556.0 6,996.8 7,402.0 7,828.9 6,838.8 6,961.6 7,054.5 7,132.4 7,274.4 7,333.6 7,432.1 7,568.0 7,669.1 7,729.4 7,862.6 8,054.5 6,116.9 5,499.4 617.5 73.2 6,463.8 5,820.9 642.8 92.2 6,908.8 6,240.1 668.6 88.0 7,321.9 6,621.4 700.4 80.2 7,746.4 7,001.4 745.0 82.5 6,747.3 6,086.3 661.0 91.4 6,872.6 6,205.5 667.1 89.0 6,295.5 671.3 87.7 7,048.3 6,373.2 675.2 84.0 7,201.5 6,518.0 683.5 72.9 7,258.8 6,564.8 694.0 74.8 7,351.6 6,645.4 706.2 80.6 7,475.5 6,757.5 718.0 92.5 7,580.5 6,850.3 730.2 88.6 7,645.3 6,906.2 739.1 84.1 7,784.0 7,034.3 749.7 78.6 7,975.7 7,214.8 760.9 78.8 330.3 348.6 366.2 11.9 318.4 12.0 336.5 12.1 354.1 880.1 908.7 593.3 292.0 616.7 1999 1997 363.8 368.7 373.1 377.3 383.2 388.4 393.4 399.7 404.9 411.0 417.7 11.7 347.5 11.9 351.9 12.1 356.6 12.5 360.6 13.0 364.3 13.6 369.6 14.3 374.1 15.2 378.2 15.6 384.1 15.8 389.0 16.0 395.0 16.2 401.5 934.1 941.4 947.6 958.9 966.9 977.4 986.2 1,003.9 1,012.0 1,024.2 1,035.8 295.0 633.0 294.3 639.8 293.5 647.8 292.1 655.5 295.7 663.2 295.7 671.2 297.5 679.9 298.8 687.3 307.8 696.1 307.2 704.7 308.3 715.9 309.6 726.1 408.3 14.0 371.6 15.9 392.4 937.8 972.3 1,019.0 293.7 644.0 296.9 675.4 308.2 710.7 1. Equals gross domestic product less gross product of households and institutions and of general government. 2. Equals gross domestic business product less gross farm product. 3. Equals compensation of general government employees plus general government consumption of fixed capital as shown in table 3.7. Table 1,8.—Real Gross Domestic Product by Sector [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line Gross domestic product. Business1 Nonfarm 2 Nonfarm less housing. Housing Farm 1995 1996 1997 1999 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 8,018.7 8,115.4 8,192.2 8,253.2 8,391.1 8,436.3 8,515.7 8,717.6 8,758.3 8,879.8 9,037.2 6,295.9 6,556.0 6,868.5 7,202.4 7,534.4 6,749.9 6,840.4 6,912.1 6,971.6 7,104.2 7,145.1 7,220.5 7,339.5 7,412.2 7,448.5 7,563.0 7,714.0 6,210.3 5,574.2 636.2 85.5 6,463.8 5,820.9 642.8 92.2 6,765.9 6,115.1 650.8 103.3 7,100.8 6,441.1 660.2 100.7 7,432.9 6,753.0 681.0 99.5 6,650.6 6,000.3 650.3 99.7 6,738.7 6,087.0 651.7 102.3 6,806.5 6,155.4 651.1 106.8 6,867.8 6,217.9 650.1 104.4 7,002.1 6,348.4 654.0 101.9 7,045.2 6,386.8 658.7 98.9 7,119.1 6,456.9 662.6 100.6 7,237.1 6,572.5 665.4 101.4 7,310.6 6,638.6 672.9 100.2 7,345.6 6,669.2 677.2 101.6 7,464.2 6,781.0 684.2 95.8 7,611.1 6,923.0 689.6 100.5 1997 341.5 348.6 360.5 369.0 376.3 355.6 359.0 362.4 364.9 366.9 368.2 369.6 371.3 373.2 374.8 377.2 380.1 Private househojds Nonprofit institutions 12.2 329.3 12.0 336.5 11.8 348.7 13.3 355.7 14.6 361.7 11.6 344.0 11.6 347.4 11.8 350.7 12.0 352.8 12.4 354.5 12.9 355.3 13.5 356.1 14.2 357.0 14.6 358.6 14.6 360.2 14.7 362.5 14.7 365.4 3 906.7 908.7 915.9 924.8 939.1 913.2 916.0 917.7 916.9 920.2 923.4 926.1 929.6 933.3 936.2 941.3 945.6 299.1 607.7 292.0 616.7 287.8 628.2 285.8 638.9 284.8 654.1 289.3 623.9 288.5 627.4 288.0 629.7 285.2 631.6 634.6 285.6 637.7 286.1 639.9 286.1 643.4 285.5 647.7 284.5 651.5 284.5 656.7 284.8 660.6 -.4 .1 -.5 -1.3 -.5 -.5 Households and institutions . General government Federal State and local -.5 1. Equals gross domestic product less gross product of households and institutions and of general government. 2. Equals gross domestic business product less gross farm product. 3. Equals compensation of general government employees plus general government consumption of fixed capital as shown in table 3.8. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity -.3 indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. Chain-type quantity indexes for the series in this table are shown in table 7.14. 44 SURVEY OF CURRENT BUSINESS • April 2000 Table 1.9.—Relation of Gross Domestic Product, Gross National Product, Net National Product, National Income, and Personal Income [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,297.8 9,507.9 232.3 211.9 245.6 227.5 282.6 278.4 285.3 295.2 302.3 322.3 268.9 263.7 284.9 275.4 290.9 288.9 285.7 285.5 291.1 288.0 292.9 292.9 276.4 302.0 280.8 297.9 283.8 298.2 296.1 310.4 307.7 323.2 321.7 357.3 7,420.9 7,831.2 8,305.0 8,750.0 9,236.2 8,131.1 8,269.1 8,366.5 8,453.3 8,613.7 8,683.7 8,772.2 8,930.5 9,058.2 9,131.9 9,282.3 9,472.3 911.7 743.6 729.3 -14.3 168.1 144.3 23.9 956.2 781.9 779.4 -2.5 174.3 149.2 25.0 1,009.1 828.5 844.0 15.4 180.5 154.2 26.3 1,064.6 878.4 906.2 27.7 186.2 158.6 27.6 1,135.8 939.7 975.5 35.8 196.0 166.8 29.3 988.3 810.1 819.9 9.8 178.2 152.3 25.8 1,001.7 821.8 836.2 14.3 179.9 153.7 26.2 1,016.1 835.1 852.1 17.0 181.0 154.6 26.4 1,030.1 847.1 867.8 20.6 183.0 156.2 26.8 1,041.9 858.1 881.1 23.0 183.8 156.7 27.1 1,055.1 870.2 897.1 26.9 184.8 157.5 27.4 1,072.2 885.3 914.2 28.9 186.9 159.2 27.7 1,089.2 900.1 932.2 32.1 189.1 160.9 28.2 1,103.9 911.9 947.1 35.2 192.0 163.4 28.6 1,121.3 926.8 964.7 37.9 194.5 165.5 29.0 1,156.0 958.8 989.9 31.1 197.2 167.7 29.5 1,161.8 961.3 1,000.5 39.1 200.5 170.5 30.0 6,509.1 6,875.0 7,295.9 7,685.4 8,100.4 7,142.8 7,267.4 7,350.4 7,423.2 7,571.8 7,628.6 7,700.1 7,841.2 7,954.4 8,010.6 8,126.3 8,310.5 594.6 33.5 26.5 22.2 620.0 34.4 32.8 22.6 645.8 36.9 -3.2 19.0 677.0 38.1 -47.6 20.8 716.3 39.4 -125.1 26.5 632.5 35.9 20.9 20.9 643.0 36.7 23.9 18.5 652.0 37.3 -17.5 16.8 655.4 37.7 -40.0 19.9 663.5 37.6 1.4 18.0 670.1 38.0 -41.5 17.1 676.6 38.2 -87.9 16.9 697.8 38.6 -62.4 31.4 696.6 38.8 -99.4 21.0 706.7 39.3 -135.5 27.9 718.3 39.5 -141.2 17.3 743.7 40.0 -124.5 39.7 5,876.7 6,210.4 6,635.5 7,038.8 7,496.3 6,474.4 6,582.3 6,695.3 6,789.9 6,887.3 6,979.1 7,090.1 7,198.6 7,339.4 7,428.1 7,527.0 7,690.9 668.8 754.0 838.5 848.4 892.7 804.4 832.0 863.2 854.3 858.4 849.4 846.8 839.0 886.9 880.5 884.1 919.4 389.8 533.2 16.4 792.5 254.0 860.1 25.8 386.3 555.8 3.6 810.6 297.4 902.4 26.4 412.5 588.2 -4.1 854.9 333.4 934.5 27.9 435.7 621.9 3.5 897.8 348.3 954.8 28.8 467.5 658.2 0 931.3 364.3 988.6 29.6 402.3 576.6 -4.1 835.7 320.3 929.0 27.4 411.8 583.4 -4.1 850.6 330.2 932.9 27.8 414.6 591.2 -4.1 859.7 338.5 936.8 28.1 421.2 601.5 -4.1 873.6 344.4 939.3 28.4 423.3 610.3 3.5 880.1 346.1 948.2 28.5 434.6 617.6 3.5 895.3 347.0 951.4 28.7 444.0 626.1 3.5 909.3 348.0 957.7 28.8 440.8 633.8 3.5 906.4 351.9 962.0 29.0 446.3 647.2 0 907.4 356.1 978.5 29.3 456.4 653.8 0 920.5 361.2 984.1 29.5 476.3 662.3 0 938.8 367.0 991.6 29.7 491.0 669.4 0 958.5 373.1 1,000.3 29.9 Equals: Personal income 6,200.9 6,547.4 6,951.1 7,358.9 7,791.8 6,807.6 6,900.6 6,993.5 7,102.7 7,194.7 7,296.3 7,413.6 7,530.8 7,630.2 7,732.6 7,831.4 7,972.9 Addenda: Gross domestic income • Gross national income Net domestic product 7,374.0 7,394.4 6,488.8 7,780.3 7,798.4 6,857.0 8,303.9 8,308.2 7,291.7 8,807.5 8,797.6 7,695.3 9,381.3 9,361.3 8,120.4 8,105.0 8,110.2 7,137.7 8,235.7 8,245.2 7,257.8 8,382.0 8,384.0 7,348.4 8,493.0 8,493.3 7,422.9 8,609.1 8,612.3 7,568.7 8,725.2 8,725.1 7,628.7 8,860.2 7,725.7 9,009.9 8,992.8 7,858.3 9,172.0 9,157.6 7,968.8 9,281.7 9,267.4 8,024.9 9,439.0 9,423.5 8,141.8 9,632.4 9,596.8 8,346.1 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 Private Capital consumption allowances Less: Capital consumption adjustment Government General government Government enterprises Equals: Net national product Less: Indirect business tax and nontax liability Business transfer payments - ,, Statistical discrepancy • Plus: Subsidies less current surplus of government ..,' .enterprises. Equals: National income Less: Corporate profits with inventory valuation and capital consumption adjustments. Net interest Contributions for social insurance Wage accruals less disbursements Plus: Personal interest income Personal dividend income Government transfer payments to persons Business transfer payments to persons 1997 1998 1999 Table 1.10.—Relation of Real Gross Domestic Product, Real Gross National Product, and Real Net National Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates 1995 1996 1997 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 8,018.7 8,115.4 8,192.2 8,253.2 8,391.1 8,436.3 8,515.7 8,639.5 8,717.6 8,758.3 8,879.8 9,037.2 236.5 216.2 245.6 227.5 278.1 272.0 279.2 286.9 291.8 309.2 265.6 259.2 280.9 269.4 285.9 281.8 280.1 277.5 285.5 280.5 284.9 270.3 293.2 274.0 289.1 276.0 288.5 286.6 298.8 296.5 309.4 308.2 340.1 7,564.0 7,831.2 8,150.9 8,487.8 8,830.8 8,025.1 8,126.7 8,196.1 8,255.7 8,396.0 8,438.2 8,492.8 8,624.4 8,705.1 8,746.0 8,866.8 9,005.2 912.3 742.6 169.7 145.4 24.2 956.2 781.9 174.3 149.2 25.0 1,009.5 830.0 179.5 153.6 25.9 1,072.8 887.5 185.4 158.4 26.9 1,152.2 960.0 192.4 164.4 28.0 988.1 810.6 177.5 151.9 25.6 1,002.0 823.2 178.8 153.0 25.8 1,016.4 836.3 180.1 154.1 26.1 1,031.4 849.9 181.5 155.3 26.3 1,047.3 864.3 183.0 156.4 26.5 1,063.5 879.1 184.5 157.7 26.8 1,080.8 894.7 186.1 159.0 27.1 1,099.4 911.7 187.8 160.5 27.3 1,114.8 925.3 189.6 161.9 27.6 1,136.5 945.3 191.4 163.5 27.9 1,167.0 974.0 193.3 165.1 28.2 1,190.4 995.5 195.3 166.8 28.5 Equals: Net national product 6,651.9 6,875.0 7,141.5 7,415.9 7,681.3 7,037.0 7,124.8 7,179.8 7,224.7 7,349.0 7,375.4 7,413.0 7,526.0 7,591.7 7,611.8 7,703.1 7,818.4 Addenda: Gross domestic income' Gross national income2 Net domestic product 7,516.7 7,536.9 6,631.7 7,780.3 7,798.4 6,857.0 8,147.9 8,153.9 7,135.5 8,541.7 8,533.9 7,423.6 8,967.8 8,950.4 7,698.6 7,998.1 8,004.5 7,030.6 8,092.0 8,103.3 7,113.4 8,209.3 8,213.2 7,175.9 8,292.3 8,294.8 7,222.2 8,389.7 8,394.5 7,344.2 8,476.7 8,478.5 7,373.5 8,600.8 8,577.9 7,435.8 8,699.7 8,684.6 7,541.0 8,813.1 8,800.7 7,604.1 8,875.8 7,623.9 9,014.6 9,001.7 7,716.0 9,155.5 9,123.5 7,850.2 Line 1997 1999 IV 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 Private Government General government Government enterprises : 1. Gross domestic income deflated by the implicit price deflator for gross domestic product. 2. Gross national income deflated by the implicit price deflator for gross national product. NOTE.-^Except as noted in footnotes 1 and 2, chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chaineddollar estimates are usually not additive. The chain-type quantity index for gross national product is shown in table 7.3. Table 1.11.—Command-Basis Real Gross National Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 Gross national product 1 7,564.0 Less: Exports of goods and services and income receipts from the rest of the world. Plus: Command-basis exports of goods and services and income receipts from the rest of the world 1 . 2 1,044.5 1,119.7 3 1,039.5 1,119.7 Equals: Command-basis gross national product 4 7,559.0 7,831.2 Addendum: Terms of trade 2 5 99.5 100.0 7,831.2 1997 1998 1997 1999 1998 1999 I II III IV I II III IV I II III IV 8,025.1 8,126.7 8,196.1 8,255.7 8,396.0 8,438.2 8,492.8 8,624.4 8,705.1 8,746.0 8,866.8 9,005.2 8,487.8 8,830.8 1,261.2 1,283.6 1,334.3 1,207.7 1,258.6 1,290.2 1,288.4 1,290.1 1,281.8 1,260.5 1,301.9 1,289.9 1,311.0 1,349.4 1,386.9 1,281.4 1,337.6 1,381.8 1,210.8 1,280.9 1,316.7 1,317.1 1,338.2 1,335.4 1,318.0 1,358.7 1,352.9 1,363.1 1,389.5 1,421.6 8,171.1 8,541.8 8,878.3 8,028.2 8,149.1 8,222.6 8,284.4 8,444.0 8,491.9 8,550.3 8,681.1 8,768.1 8,798.1 8,907.0 9,040.0 101.6 104.2 103.5 100.3 101.8 102.1 102.2 103.7 104.2 104.6 104.4 104.9 104.0 103.0 102.5 8,150.9 1. Exports of g goods and services and income receipts deflated by the implicit price deflator for imports of goods indexes uses weights of more than one period, p g p , the corresponding pg chained-dollar estimates are usually not additive, payments P r c t changes h fr preceding prdi i d for f gross national t i l product d t are shown h iin ttable b l 88.1. 1 andd services and income payments. Percent from period 2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding Chain-type quantity indexes for the series in this table are shown in table 7.3. implicit price deflator for imports divided by 100. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity April 2000 • SURVEY OF CURRENT BUSINESS 45 Table 1.13.—Real Net Domestic Product by Sector Table 1.12.—Net Domestic Product by Sector [Billions of chained (1996) dollars] [Billions of dollars] Line 1996 1997 1998 6,857.0 7,291.7 7,695.3 5,422.6 5,749.0 6,141.9 6,496.0 5,374.1 5,682.2 5,155.6 504.8 48.6 526.6 66.8 6,080.1 5,534.2 61.9 6,442.9 5,870.7 572.1 53.1 330.3 348.6 366.2 385.6 11.9 318.4 12.0 336.5 12.1 354.1 14.0 371.6 1995 Net domestic product .. Business1 Nonfarm 2 Nonfarm less housing .... Housing Farm Households and institutions Private households Nonprofit institutions General government3 Federal State and local 545.9 Line 735.8 759.4 783.6 813.8 206.9 528.9 211.0 548.4 211.7 571.8 214.4 599.4 Business1 Nonfarm 2 Nonfarm less housing .... Housing Farm Private househojds Nonprofit institutions General government3 Federal State and local Residual 1996 1997 6,857.0 1998 7,135.5 7,423.6 5,529.1 5,749.0 6,012.7 6,288.6 5,468.5 521.0 60.2 5,682.2 5,155.6 526.6 66.8 5,935.9 5,404.2 531.6 77.9 6,213.5 5,675.8 538.0 74.4 341.5 348.6 360.5 369.0 12.2 329.3 12.0 336.5 11.8 348.7 13.3 355.7 761.3 759.4 762.4 766.6 219.0 542.4 211.0 548.4 205.7 556.7 202.6 564.0 .1 -1.1 -.2 4,947.6 Households and institutions 1. Equals net domestic product less net product of households and institutions and of general government. 2. Equals net domestic business product less net farm product. 3. Equals compensation of general government employees as shown in table 3.7. 1995 6,631.7 Net domestic product 1. Equals net domestic product less net product of households and institutions and of general government. 2. Equals net domestic business product less net farm product. 3. Equals compensation of general government employees as shown in table 3.8. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. Table 1.14.—National Income by Type of Income [Billions of dollars] Seasonally adjusted at annual rates Line 1996 1997 1998 1999 1997 1999 1998 5,876.7 6,210.4 6,635.5 7,038.8 7,496.3 6,474.4 6,582.3 6,695.3 6,789.9 6,887.3 6,979.1 7,090.1 7,198.6 7,339.4 7,428.1 7,527.0 7,690.9 4,202.5 3,441.1 622.7 2,818.4 761.4 264.5 497.0 4,395.6 5,011.2 4,189.5 692.8 3,496.7 821.7 306.0 515.7 5,331.7 4,472.3 726.5 4,566.1 3,997.9 673.1 3,324.9 802.4 296.6 505.8 4,079.6 682.6 4,967.0 4,149.7 689.3 5,053.6 4,227.9 696.7 3,397.1 809.8 300.3 509.5 3,460.4 817.3 303.8 513.5 3,531.2 825.7 308.1 517.7 5,134.7 4,300.8 702.8 3,598.0 833.9 311.8 522.1 5,217.7 4,371.5 715.8 3,655.7 846.2 318.3 528.0 5,287.1 4,432.6 721.3 3,711.3 854.5 321.5 533.0 5,373.6 4,509.4 730.3 3,128.7 780.8 284.6 496.2 4,705.2 3,911.3 667.1 3,244.2 793.9 291.5 502.4 4,889.4 3,745.8 859.4 323.6 535.8 4,631.3 3,844.3 661.0 3,183.3 787.0 287.8 499.1 4,800.3 3,630.1 641.0 2,989.1 765.4 275.4 490.0 4,675.7 3,884.7 664.4 3,220.3 791.0 290.1 500.9 3,779.1 864.2 325.7 538.5 5,448.3 4,575.6 738.5 3,837.1 872.7 329.0 543.7 Proprietors' income with inventory valuation and capital consumption adjustments. Farm Proprietors' income with inventory valuation adjustment. Capital consumption adjustment Nonfarm Proprietors' income Inventory valuation adjustment Capital consumption adjustment 497.7 544.7 578.6 606.1 658.5 569.1 575.1 582.9 587.3 586.6 594.2 606.4 637.1 639.9 655.3 654.0 685.0 22.2 30.2 34.3 42.1 29.5 37.2 25.1 32.7 31.3 38.5 32.5 40.3 30.2 37.9 28.9 36.6 26.3 34.0 17.5 25.2 18.7 26.4 22.9 30.5 41.1 48.6 32.5 39.6 34.1 41.2 21.0 28.8 37.6 44.5 -6.0 475.5 447.8 -1.5 29.2 -7.9 510.5 476.0 -.4 34.9 -7.7 549.1 504.2 .5 44.4 -7.6 581.0 532.2 1.2 47.6 -7.3 627.3 579.3 -.9 -7.8 536.6 494.9 .3 -7.7 569.1 -7.7 575.5 527.6 .1 47.8 -7.5 596.0 547.4 -7.2 607.5 558.9 46.9 519.4 2.4 47.3 -7.6 583.6 534.6 41.4 -7.7 554.0 508.1 .5 45.5 -7.7 561.0 513.7 .4 48.8 -7.7 544.9 500.2 .9 43.7 1.3 47.7 1.1 47.5 .8 47.7 -7.1 621.2 573.8 -1.0 48.3 -7.9 633.0 586.2 -1.9 48.8 -6.9 647.4 598.4 -1.4 50.4 Rental income of persons with capital consumption adjustment. Rental income of persons Capital consumption adjustment 117.9 129.7 130.2 137.4 145.9 132.4 132.0 129.4 126.7 129.5 133.9 139.3 147.0 148.6 148.8 139.0 147.3 165.4 -47.5 177.4 ^7.6 180.0 ^9.9 188.6 -51.1 201.9 -56.0 181.5 181.5 -49.4 179.8 -50.3 177.3 -50.6 179.6 -50.0 184.3 -50.5 190.7 -51.4 199.6 -52.6 202.5 -53.9 203.5 -54.7 -59.9 202.9 -55.6 668.8 754.0 838.5 848.4 892.7 804.4 832.0 863.2 854.3 858.4 846.8 839.0 886.9 880.5 884.1 919.4 650.2 729.4 803.2 802.8 835.6 772.6 797.7 827.0 815.5 818.4 805.6 799.9 787.4 831.4 822.2 827.1 861.4 668.5 211.0 457.5 254.2 203.3 -18.3 726.3 223.6 502.7 297.7 205.0 3.1 24.6 795.9 238.3 557.6 333.7 223.9 7.4 35.3 781.9 240.2 541.7 348.6 193.1 20.9 45.6 848.5 259.4 589.1 364.7 224.4 -13.0 57.2 763.3 228.9 534.4 320.6 213.8 9.3 31.8 786.5 233.2 553.3 330.6 222.7 11.2 34.3 822.1 246.8 575.3 338.8 236.5 4.9 36.2 811.6 244.1 567.4 344.8 222.6 4.0 38.8 788.9 239.9 548.9 346.5 202.5 29.5 40.1 792.0 241.1 550.9 347.3 203.6 13.6 43.8 780.1 244.3 535.8 348.4 187.4 19.8 46.9 766.7 235.6 531.0 352.2 178.8 20.8 51.6 818.1 248.0 570.1 356.4 213.7 13.3 55.5 835.8 254.4 581.4 361.5 219.9 -13.6 58.2 853.8 259.4 594.3 367.3 227.0 -26.7 57.0 275.7 610.6 373.5 237.1 -24.9 58.0 386.3 412.5 435.7 467.5 402.3 411.8 414.6 421.2 423.3 434.6 444.0 440.8 446.3 456.4 476.3 491.0 530.4 600.2 608.2 633.3 575.5 616.5 610.2 618.5 608.3 602.5 603.4 638.9 626.0 624.7 643.6 National income Compensation of employees Waae and salary accruals Government Other Supplements to wages and salaries Employer contributions for social insurance . Other labor income Corporate profits with inventory valuation and capital consumption adjustments. Corporate profits with inventory valuation adjustment. Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment Capital consumption adjustment Net interest Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments. Net cash flow with Inventory valuation and capital consumption adjustments. Undistributed profits with inventory valuation and capital consumption adjustments. Consumption of fixed capital Less: Inventory valuation adjustment Equals: Net cash flow 457.8 3,785.3 656.6 715.7 776.1 845.3 876.5 929.7 819.6 842.1 861.3 858.2 874.1 872.1 876.1 883.6 923.4 916.7 929.0 949.9 203.6 232.7 266.6 259.6 268.6 254.9 268.3 277.7 265.4 272.0 261.0 254.1 251.2 282.5 264.5 257.4 270.1 512.1 -18.3 734.0 543.5 3.1 773.1 578.8 7.4 838.0 616.9 20.9 855.5 661.1 -13.0 942.7 564.8 9.3 573.9 11.2 830.9 583.6 592.8 4.0 854.3 602.0 29.5 844.6 611.1 13.6 858.5 622.0 19.8 856.3 632.4 20.8 862.8 640.9 13.3 910.1 652.2 -13.6 930.3 671.6 -26.7 955.6 679.7 -24.9 974.8 810.3 4.9 856.4 46 • April 2000 SURVEY OF CURRENT BUSINESS Table 1.15.—National Income by Sector, Legal Form of Organization, and Type of Income [Billions of dollars] Line National income Domestic business Corporate business Compensation of employees Wage and salary accruals Supplements to wages and salaries Corporate profits with inventory valuation and capital consumption adjustments. Profits before tax Inventory valuation adjustment Capital consumption adjustment Net interest 1995 1996 1997 1998 5,876.7 6,210.4 6,635.5 7,038.8 4,790.2 5,084.3 5,481.5 5,849.3 3,445.6 2,776.5 2,300.1 476.4 576.8 3,658.2 3,974.5 2,912.2 2,442.8 4,264.3 3,385.3 469.4 653.2 3,126.0 2,635.6 490.4 730.4 576.4 -18.3 18.6 687.8 7.4 35.3 118.1 681.9 20.9 45.6 2,871.5 513.9 748.4 92.4 625.5 3.1 24.6 92.8 Sole proprietorships and partnerships Compensation of employees Wage and salary accruals Supplements to wages and salaries Proprietors' income with inventory valuation and capital consumption adjustments. Farm Proprietors' income with inventory valuation adjustment Capital consumption adjustment Nonfarm Proprietors' income Inventory valuation adjustment Capital consumption adjustment Net interest 832.5 261.2 228.8 32.4 494.9 890.9 274.3 241.6 32.7 541.7 950.7 294.6 262.8 31.9 575.3 1,004.8 317.0 283.8 33.2 602.7 22.2 30.2 ^8.0 472.7 444.3 -1.5 29.9 76.4 34.3 42.1 -7.9 507.4 472.3 -.4 35.5 74.9 29.5 37.2 -7.7 545.9 500.3 .5 45.0 80.8 25.1 32.7 -7.6 577.6 528.2 1.2 48.2 85.1 Other private business Compensation of employees Wage and salary accruals Supplements to wages and salaries Proprietors' income with inventory valuation and capital consumption adjustments. Proprietors' income with inventory valuation adjustment Capital consumption adjustment Rental income of persons with capital consumption adjustment Rental income of persons Capital consumption adjustment Net interest 423.8 14.8 13.0 1.9 2.8 445.0 15.5 13.6 1.9 3.1 462.4 16.4 14.5 1.9 3.3 484.1 18.7 16.6 2.1 3.4 3.5 -.7 117.9 165.4 -47.5 288.2 3.7 -.7 129.7 177.4 -47.6 296.8 3.9 -.6 130.2 180.0 -49.9 312.5 4.0 -.6 137.4 188.6 -51.1 324.6 64.7 23.7 90.2 90.2 66.1 24.1 93.9 93.9 68.7 25.2 96.1 96.1 70.5 25.6 330.3 348.6 366.2 385.6 330.3 281.0 49.3 348.6 295.7 52.8 366.2 312.4 53.8 385.6 330.2 55.4 735.8 759.4 783.6 813.8 735.8 558.0 177.8 759.4 574.9 184.5 783.6 595.8 187.8 813.8 622.3 191.4 Government enterprises Compensation of employees Wage and salary accruals Supplements to wages and salaries Households and institutions Compensation of employees Wage and salary accruals Supplements to wages and salaries General government Compensation of employees Wage and salary accruals Supplements to wages and salaries Rest of the world Compensation of employees Corporate profits Net interest Addenda* Domestic income ( M 8 ) Compensation of employees (4+13+26+37+41+45) Proprietors' income with inventory valuation and capital consumption adjustments (16+29). Rental income of persons with capital consumption adjustment (32) . Corporate profits with inventory valuation and capital consumption adjustments (7). Net interest (11+24+35) 130.6 20.3 18.1 4.3 -9.9 -4.5 92.0 -67.2 -4.6 100.9 -78.2 -5.0 108.1 -98.9 -104.7 5,856.4 4,207.0 497.7 6,192.3 4,400.1 544.7 6,631.2 4,680.7 578.6 7,048.7 5,016.4 606.1 117.9 576.8 129.7 653.2 130.2 730.4 137.4 748.4 457.0 464.5 511.4 540.3 -6.3 100.0 April 2000 • 47 SURVEY OF CURRENT BUSINESS Table 1.16.—Gross Product of Corporate Business in Current Dollars and Gross Product of Nonfinancial Corporate Business in Current and Chained Dollars Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1998 1999 I •• I IV Billions of dollars Gross product of corporate business Consumption of fixed capital Net product Indirect business tax and nontax liability plus business transfer payments less subsidies. Domestic income Compensation of employees Wage and salary accruals Supplements to wages and salaries Corporate profits with inventory valuation and capital consumption adjustments. Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment Capital consumption adjustment Net interest Gross product of financial corporate business. Gross product of nonfinancial corporate business. Consumption of fixed capital Net product Indirect business tax and nontax liability plus business transfer payments less subsidies. Domestic income Compensation of employees Wage and salary accruals Supplements to wages and salaries Corporate profits with inventory valuation and capital consumption adjustments. Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment Capital consumption adjustment Net interest 5,893.7 4,390.0 4,648.8 5,021.2 5,375.3 5,729.8 4,872.6 4,965.5 5,079.7 5,166.8 5,254.0 5,321.3 5,425.6 5,500.1 5,599.7 5,666.1 5,759.7 512.1 543.5 578.8 616.9 661.1 564.8 573.9 583.6 592.8 602.0 611.1 622.0 632.4 640.9 652.2 671.6 679.7 3,877.9 432.2 4,105.4 447.2 4,442.4 467.9 4,758.4 494.1 5,068.7 524.4 4,307.9 455.4 4,391.7 465.4 4,496.0 474.2 4,574.0 476.7 4,652.0 482.4 4,710.2 487.5 4,803.6 493.1 4,867.7 513.3 4,958.8 509.6 5,013.9 517.3 5,088.1 524.7 5,214.0 545.9 3,445.6 2,776.5 2,300.1 476.4 576.8 3,658.2 2,912.2 2,442.8 469.4 653.2 3,974.5 3,126.0 2,635.6 490.4 730.4 4,264.3 3,385.3 2,871.5 513.9 748.4 4,544.3 3,614.1 3,076.0 538.1 789.4 3,852.5 3,040.4 2,558.6 481.8 702.4 3,926.3 3,090.6 2,604.0 486.6 719.0 4,021.8 3,147.2 2,654.9 492.2 753.5 4,097.3 3,225.8 2,724.7 501.1 746.7 4,169.6 3,292.9 2,786.8 506.0 750.6 4,222.8 3,350.5 2,839.9 510.6 742.0 4,310.5 3,416.8 2,900.8 516.0 760.2 4,354.4 3,481.2 2,958.4 522.8 740.7 4,449.2 3,532.0 3,002.1 529.9 782.6 4,496.6 3,582.7 3,047.6 535.0 777.1 4,563.4 3,644.4 3,103.3 541.1 776.0 4,668.1 3,697.4 3,151.0 546.4 821.9 576.4 211.0 365.5 221.6 143.8 -18.3 18.6 92.4 625.5 223.6 401.8 257.3 144.5 3.1 24.6 92.8 687.8 238.3 449.5 284.8 164.8 7.4 35.3 118.1 681.9 240.2 441.6 314.6 127.0 20.9 45.6 130.6 745.2 259.4 485.8 331.6 154.1 -13.0 57.2 140.8 661.4 228.9 432.5 273.9 158.6 9.3 31.8 109.6 673.5 233.2 440.2 280.1 160.1 11.2 34.3 116.7 712.3 246.8 465.6 287.3 178.3 4.9 36.2 121.2 704.0 244.1 459.8 297.7 162.1 4.0 38.8 124.8 681.1 239.9 441.1 304.4 136.7 29.5 40.1 126.1 241.1 443.5 315.3 128.2 13.6 43.8 130.2 693.5 244.3 449.2 310.8 138.4 19.8 46.9 133.6 235.6 432.7 328.1 104.6 20.8 51.6 132.5 713.8 248.0 465.8 308.4 157.4 13.3 55.5 134.6 732.5 254.4 478.0 342.2 135.9 -13.6 58.2 136.8 745.6 259.4 486.2 337.9 148.3 -26.7 57.0 143.0 788.8 275.7 513.1 338.1 174.9 -24.9 58.0 148.8 444.1 489.3 556.7 608.8 528.8 547.6 566.2 584.3 597.8 604.4 621.5 643.0 643.3 3,945.9 4,159.5 4,464.4 4,766.4 4,343.9 4,418.0 4,513.4 4,582.5 4,656.2 4,716.9 4,878.6 4,956.7 5,022.8 657.3 5,072.5 554.7 611.7 4,813.9 657.2 5,102.5 685.8 5,207.9 568.5 437.5 462.7 490.9 520.6 479.7 487.0 494.9 502.2 509.1 516.1 532.5 539.0 547.5 3,508.4 397.3 3,696.9 411.9 3,973.5 430.7 4,245.9 455.3 4,517.8 484.4 3,864.1 421.5 3,930.9 428.6 4,018.6 435.6 4,080.3 437.1 4,147.2 443.2 4,200.8 448.6 4,289.4 454.6 4,346.1 474.7 4,417.6 470.5 4,475.3 477.6 4,538.8 484.5 4,639.4 504.9 3,111.0 2,552.7 2,111.7 441.0 442.5 3,284.9 2,667.1 2,234.1 433.0 509.1 3,542.8 2,860.1 2,408.4 451.7 563.1 3,790.6 3,090.4 2,618.7 471.7 576.7 4,033.4 3,298.7 2,805.2 493.5 602.8 3,442.7 2,783.2 2,339.0 444.2 543.5 3,502.3 2,828.8 2,380.4 448.4 553.9 3,583.0 2,878.7 2,425.4 453.3 583.5 3,643.2 2,949.9 2,488.9 461.0 571.6 3,703.9 3,008.7 2,543.4 465.3 574.3 3,752.2 3,059.9 2,590.8 469.1 569.0 3,834.8 3,118.6 2,645.1 473.5 590.7 3,871.4 3,174.6 2,695.5 479.0 572.7 3,947.2 3,223.8 2,737.9 486.0 597.2 3,997.7 3,270.0 2,779.4 490.7 599.5 4,054.3 3,326.3 2,830.1 496.2 594.0 4,134.5 3,374.7 2,873.6 501.1 620.3 422.1 136.7 285.4 179.3 106.0 -18.3 38.7 115.8 460.2 150.1 310.1 201.9 108.2 3.1 45.8 108.7 503.6 158.8 344.7 219.8 124.9 7.4 52.2 119.6 490.6 152.5 338.1 245.4 92.7 20.9 65.2 123.5 537.1 167.6 369.6 259.7 109.9 -13.0 78.6 131.9 484.8 152.7 332.1 211.6 120.4 9.3 49.5 116.0 491.6 154.8 336.7 216.0 120.8 11.2 51.1 119.6 525.8 166.4 359.4 221.6 137.9 4.9 52.7 120.9 512.1 161.5 350.7 230.1 120.6 4.0 55.4 121.8 486.2 150.9 335.3 236.2 99.1 29.5 58.7 120.9 492.4 153.1 339.3 245.5 93.7 13.6 63.0 123.3 503.9 157.1 346.9 242.9 104.0 19.8 67.0 125.5 479.8 148.8 331.0 256.9 74.0 20.8 72.2 124.1 508.6 157.9 350.6 241.5 109.1 13.3 75.4 126.1 534.2 166.9 367.3 267.9 99.4 -13.6 78.8 128.1 541.8 169.3 372.5 264.6 108.0 -26.7 78.8 134.0 563.9 176.1 387.8 264.8 123.1 -24.9 81.3 139.4 524.5 563.8 Billions of chained (1996) dollars Gross product of nonfinancial corporate, business. Consumption of fixed capital Net product2 l 3,960.1 4,159.5 4,439.6 4,736.6 5,013.9 4,325.1 4,391.9 4,486.0 4,555.3 4,633.9 4,692.1 4,777.9 4,842.5 4,911.0 4,964.2 5,044.0 5,136.5 435.8 3,524.3 462.7 3,696.9 493.7 3,945.8 530.0 4,206.6 577.1 4,436.9 481.3 3,843.8 489.4 3,902.5 497.8 3,988.2 506.4 4,048.8 515.3 4,118.6 524.7 4,167.5 534.6 4,243.3 545.3 4,297.1 554.1 4,356.9 566.9 4,397.4 587.3 4,456.7 600.0 4,536.5 1. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. 2. Chained-dollar net product of nonfinancial corporate business is the difference between the gross product and the consumption of fixed capital. 48 • April 2000 SURVEY OF CURRENT BUSINESS 2. Personal Income and OutlaysTable 2.1 .—Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates Line Personal income . 1995 1996 1997 6,200.9 6,547.4 3,424.7 2,802.0 863.6 647.5 782.1 1,156.3 622.7 3,626.5 2,985.5 908.2 673.7 822.4 1,254.9 641.0 3,224.4 975.5 718.8 879.1 1,369.8 664.4 497.0 490.0 Proprietors' income with inventory valuation and capital consumption adjustments. Farm Nonfarm 497.7 1998 1997 1999 7,358.9 7,791.8 6,807.6 4,186.0 3,493.2 1,038.7 757.5 944.6 1,509.9 4,472.3 3,745.8 1,082.4 779.7 1,005.8 1,657.6 726.5 3,789.5 3,132.8 952.2 703.1 856.3 1,324.4 500.9 515.7 535.8 496.2 544.7 578.6 606.1 658.5 22.2 475.5 34.3 510.5 29.5 549.1 25.1 581.0 31.3 627.3 32.5 536.6 Rental income of persons with capital consumption adjustment. 117.9 129.7 130.2 137.4 145.9 132.4 Personal dividend income 254.0 297.4 333.4 348.3 364.3 320.3 Personal interest income 792.5 810.6 854.9 897.8 931.3 835.7 962.4 1,018.2 596.4 956.4 560.2 Wage and salary disbursements Private industries Goods-producing industries Manufacturing Distributive industries Service industries Government Other labor income . Old-age, survivors, disability, and health insurance benefits. Government unemployment insurance benefits Veterans benefits Other transfer payments Family assistance' Other I 1999 6,900.6 6,993.5 7,102.7 7,194.7 7,296.3 7,413.6 7,530.8 7,630.2 7,732.6 7,831.4 7,972.9 3!i87!4 965.9 712.0 868.9 1,352.6 661.0 3,915.4 3,248.3 979.5 720.7 885.7 1,383.1 667.1 4,002.1 3,329.0 1,004.3 739.4 905.6 1,419.1 4,076.2 3,393.6 1,020.4 747.7 919.6 1,453.6 4,146.2 3,457.0 1,032.2 754.5 935.3 1,489.5 4,224.4 3,527.7 1,045.6 762.3 953.5 1,528.6 4,297.3 3,594.5 1,056.6 765.6 969.9 1,568.0 4,371.5 3,655.7 1,062.9 767.0 986.3 1,606.6 4,432.6 3,711.3 1,075.1 774.8 997.6 1,638.5 689.3 696.7 702.8 715.8 721.3 4,509.4 3,779.1 1,090.2 786.4 1,013.4 1,675.5 730.3 4,575.6 3,837.1 1,101.4 790.7 1,025.8 1,709.9 738.5 499.1 502.4 513.5 517.7 522.1 528.0 533.0 538.5 543.7 575.1 582.9 654.0 685.0 30.2 544.9 28.9 554.0 26.3 561.0 129.4 126.7 338.5 344.4 859.7 873.6 960.7 564.8 964.9 568.1 967.7 132.0 330.2 673.1 505.8 587.3 509.5 586.6 17.5 569.1 129.5 346.1 594.2 606.4 637.1 639.9 655.3 18.7 575.5 22.9 583.6 41.1 596.0 32.5 607.5 34.1 621.2 21.0 633.0 37.6 647.4 133.9 139.3 147.0 148.6 148.8 139.0 147.3 347.0 348.0 351.9 356.1 361.2 367.0 373.1 895.3 909.3 906.4 907.4 920.5 938.8 958.5 986.5 1,007.8 588.9 1,013.6 1,030.2 604.7 570.2 976.7 575.1 576.5 579.6 991.0 581.1 593.0 1,021.3 599.0 19.2 22.7 355.5 17.1 338.4 19.6 23.2 358.8 17.1 341.7 19.2 23.2 361.1 17.1 344.0 20.6 23.3 362.9 17.1 345.8 19.9 23.6 366.4 17.3 349.1 20.5 24.3 374.1 16.9 357.2 20.3 24.1 376.2 16.3 359.9 20.2 24.3 377.8 15.4 362.4 20.2 24.5 380.8 15.1 365.7 304.9 310.0 313.8 318.0 322.0 328.9 332.3 336.7 340.4 885.9 508.0 537.6 565.8 983.6 578.1 21.5 20.9 335.6 22.6 313.0 22.1 21.7 347.4 20.3 327.1 20.0 22.5 354.1 17.6 336.5 19.8 23.3 362.3 17.1 345.2 20.3 24.3 377.2 15.9 361.3 21.0 22.5 352.8 18.2 334.6 20.0 22.4 353.5 17.7 335.8 19.6 22.5 354.6 17.3 337.2 280.4 298.1 315.9 334.6 292.0 295.6 299.7 968.3 1,072.6 1,152.1 934.2 954.4 978.6 1,006.0 1,031.2 1,058.0 1,088.3 1,113.0 1,124.8 1,139.4 1,160.4 1,183.8 5,982.8 6,286.2 6,639.7 5,873.4 5,946.2 6,014.9 6,096.7 6,163.5 6,238.3 6,325.3 6,417.8 6,505.4 6,593.2 6,671.0 6,789.1 Less: Personal contributions for social insurance. Less: Personal tax and nontax payments .. 6,951.1 1998 IV 778.3 Equals: Disposable personal income 5,422.6 5,677.7 Less: Personal outlays 5,120.2 5,405.6 5,711.7 6,056.6 6,483.3 5,609.9 5,650.2 5,759.4 5,827.4 5,914.7 6,020.9 6,100.5 6,190.3 6,310.3 6,425.2 6,531.5 6,666.3 4,969.0 134.7 16.5 5,237.5 149.9 18.2 5,524.4 166.7 20.6 5,848.6 185.7 22.3 6,257.3 201.7 24.3 5,430.8 159.6 19.6 5,466.3 164.0 19.8 5,569.1 168.7 21.5 5,631.3 174.3 21.7 5,714.7 178.8 21.1 5,816.2 182.8 21.8 5,889.6 187.9 22.9 5,973.7 193.2 23.3 6,090.8 196.1 23.5 6,200.8 199.9 24.6 6,303.7 203.3 24.5 6,434.1 207.4 24.7 302.4 272.1 271.1 229.7 156.3 263.4 296.1 255.5 269.3 248.9 217.5 224.8 227.5 195.1 168.0 139.5 122.8 5,539.1 5,677.7 5,866.7 6,107.1 6,349.4 5,785.1 5,840.7 5,951.5 6,013.0 6,069.5 6,136.9 6,209.0 6,271.0 6,320.7 6,366.2 6,439.6 20,613 21,055 263.1 21,385 21,385 265.5 22,320 21,887 268.0 23,231 22,569 270.6 24,307 23,244 273.2 21,994 21,664 267.0 22,215 21,821 267.7 22,410 21,944 268.4 22,658 22,118 269.1 22,863 22,304 269.6 23,086 22,462 270.2 23,345 22,650 270.9 22,859 271.6 23,904 23,043 272.1 24,171 23,172 272.8 24,389 23,275 273.5 24,759 23,485 274.2 5.6 4.8 5.0 4.2 2.1 1.8 Personal consumption expenditures Interest paid by persons Personal transfer payments to the rest of the world (net). Equals: Personal saving Addenda: Disposable personal income: Total, billions of chained (1996) dollars 2 Per capita: Current dollars Chained (1996) dollars Population (mid-period, millions) trsonal saving as a percentage of disposable personal income. 3.7 1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. 3.6 2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures. NOTE.—Percent changes from preceding period for disposable personal income are shown in table 8.1. April 2000 • SURVEY OF CURRENT BUSINESS 49 Table 2.2.—Personal Consumption Expenditures by Major Type of Product [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 1998 I Personal consumption expenditures . 4,969.0 Durable goods Motor vehicles and parts Furniture and household equipment Other. Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods . Gasoline and oil Fuel oil and coal Other Services Housing Household operation Electricity and gas Other household operation . Transportation Medical care Recreation : Other Addenda: Energy goods and services' Personal consumption expenditures less food and energy. 5,237.5 5,524.4 5,848.6 6,257.3 5,430.8 5,466.3 5,569.1 5,631.3 5,714.7 5,816.2 5,973.7 6,090.8 6,200.8 III IV 6,303.7 6,434.1 589.7 616.5 642.9 698.2 758.6 636.1 627.8 651.9 655.8 679.2 693.9 696.9 722.8 739.0 751.6 761.8 782.1 249.3 225.0 115.4 256.3 236.9 123.3 263.1 249.5 130.3 289.2 268.7 140.3 316.1 290.5 152.1 262.6 244.3 129.1 253.0 247.0 127.9 269.1 251.4 131.4 267.8 255.1 132.8 278.6 263.1 137.4 288.2 265.8 ,139.8 285.6 270.6 140.8 304.4 275.3 143.1 306.8 283.8 148.3 313.8 287.3 150.5 318.1 292.0 151.8 325.5 298.9 157.7 1,497.3 1,574.1 1,641.7 1,708.9 1,843.1 1,630.5 1,627.1 1,652.3 1,657.1 1,674.6 1,701.2 1,716.6 1,742.9 1,787.8 1,824.8 1,853.9 1,905.8 755.8 247.8 127.4 113.3 14.1 366.4 786.0 258.6 139.7 124.2 15.6 817.0 271.2 141.4 126.2 15.2 412.1 853.4 286.3 126.2 112.9 13.2 442.9 904.1 306.3 138.7 123.8 14.9 494.0 812.0 267.3 145.9 130.4 15.5 405.3 811.9 267.3 139.0 123.5 15.5 408.9 821.9 274.5 140.4 125.2 15.2 415.4 822.2 275.7 140.2 125.6 14.7 419.0 832.9 282.5 130.9 117.5 13.5 428.3 847.6 287.1 127.7 114.1 13.6 438.8 857.6 286.6 125.2 111.8 13.4 447.3 875.6 289.2 120.9 108.3 12.6 457.2 885.4 301.8 120.1 106.5 13.7 480.5 893.4 306.7 136.3 121.7 14.6 488.4 903.9 308.1 144.6 129.3 15.4 497.3 933.8 308.6 153.6 137.7 15.9 509.8 2,882.0 3,047.0 3,239.8 3,441.5 3,655.6 3,164.2 3,211.4 3,265.0 3,318.5 3,360.9 3,421.1 3,476.1 3,508.0 3,564.0 3,624.3 740.8 298.1 122.5 175.6 197.7 780.7 176.0 688.7 772.5 317.3 128.7 188.5 214.2 814.4 191.1 737.5 809.8 332.7 130.4 202.4 234.4 850.2 205.3 807.4 855.9 346.9 128.1 218.8 245.2 894.3 221.0 878.2 902.5 362.2 130.2 231.9 255.0 941.3 246.2 948.4 794.5 324.7 128.8 196.0 228.5 837.7 200.4 778.4 804.5 328.4 128.5 199.9 232.7 845.9 203.7 796.3 814.7 333.7 128.9 204.8 236.5 854.9 207.1 818.1 825.4 344.0 135.2 208.8 239.7 862.4 210.2 836.9 837.5 336.1 123.6 212.5 242.1 877.7 216.3 851.1 850.0 348.0 131.4 216.6 244.9 890.1 218.7 869.4 861.8 356.0 134.6 221.5 246.2 899.0 223.0 890.1 874.3 347.3 122.9 224.5 247.7 910.5 226.1 902.1 885.6 356.2 128.3 227.9 250.3 922.5 233.1 916.4 897.3 360.3 129.4 230.9 254.0 933.0 241.0 907.6 366.8 133.8 233.0 256.5 948.1 252.1 956.8 919.6 365.3 129.3 236.0 259.1 961.7 258.7 981.8 249.9 3,963.3 268.5 4,183.1 271.7 4,435.7 254.3 4,740.8 5,084.3 274.6 4,344.2 267.5 4,386.9 269.3 4,477.9 275.5 4,533.7 254.5 4,627.3 259.1 4,709.4 259.7 4,772.3 243.8 4,854.3 248.4 4,956.9 265.7 5,041.6 278.5 5,121.3 282.9 5,217.5 5,944.5 6,015.7 6,102.9 806.1 821.2 846.7 3,746.2 1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas. Table 2.3.—Real Personal Consumption Expenditures by Major Type of Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line Personal consumption expenditures . Durable goods Motor vehicles and parts Furniture and household equipment .... Other Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods Gasoline and oil Fuel oil and coal Other Services . Housing Household operation Other household operation .... Transportation Medical care Recreation Other 1998 1999 5,417.3 5,681.8 5,983.6 5,349.2 5,369.3 5,453.1 5,497.3 5,575.1 5,658.8 5,714.2 5,779.3 657.4 731.5 815.7 642.1 639.7 669.7 678.0 704.9 723.9 731.2 766.0 256.3 236.9 123.3 263.8 262.1 131.6 291.9 297.4 142.7 318.2 341.9 157.3 261.1 251.4 129.6 252.9 257.8 129.3 270.9 266.2 132.8 270.4 273.1 134.7 281.5 284.8 138.9 291.7 290.4 141.9 286.7 301.7 143.7 307.4 312.6 146.5 310.4 326.7 152.9 317.2 335.5 154.7 319.6 346.0 157.6 325.7 359.4 164.1 1,529.0 1,574.1 1,619.9 1,685.3 1,776.1 1,609.0 1,608.2 1,630.7 1,631.8 1,654.9 1,681.9 1,692.0 1,712.6 1,749.5 1,763.7 1,779.3 1,812.0 777.0 244.3 135.9 120.2 15.7 372.0 786.0 258.6 139.7 124.2 15.6 389.8 799.1 271.1 141.3 126.2 15.1 408.5 820.6 292.2 142.1 127.7 14.5 430.6 851.8 317.8 144.3 128.3 16.0 462.2 798.7 267.8 139.4 125.1 14.3 403.1 796.7 264.7 142.1 126.7 15.3 404.8 802.2 274.7 142.2 126.6 15.6 411.7 798.9 277.1 141.4 126.4 15.1 414.6 805.7 287.8 140.9 126.6 14.2 420.9 818.2 293.1 142.5 127.9 14.7 428.3 823.0 292.2 143.1 128.5 14.7 433.9 835.4 295.6 141.9 127.7 14.2 439.4 839.5 314.7 142.9 127.1 15.8 452.6 844.6 316.8 143.9 127.5 16.4 458.6 850.0 321.6 144.5 128.2 16.3 463.5 873.1 318.1 146.0 130.4 15.6 474.1 2,963.4 3,047.0 3,140.3 3,268.0 3,400.1 3,098.2 3,121.3 3,153.5 3,188.1 3,217.2 3,255.6 3,293.3 3,305.9 3,339.8 3,382.3 3,423.4 3,454.7 763.7 304.0 125.3 178.7 201.0 797.7 181.7 715.3 772.6 317.3 128.7 188.5 214.2 814.4 191.1 737.5 786.5 327.1 127.5 199.6 226.3 831.0 199.1 770.1 805.6 344.3 129.6 214.7 234.2 854.4 208.8 820.3 826.0 359.5 132.3 227.1 241.0 876.9 228.0 781.2 318.5 124.7 193.8 223.3 824.1 196.6 754.5 784.2 323.4 126.5 196.9 225.0 828.5 198.3 761.8 788.1 328.5 126.6 201.9 227.9 833.3 199.6 775.9 792.6 337.9 132.2 205.7 229.1 838.2 202.0 788.3 798.4 333.5 124.1 209.4 231.6 846.4 205.5 801.2 804.1 344.7 132.2 212.6 234.4 852.7 206.5 813.0 808.0 353.7 136.6 217.2 234.6 856.4 210.3 830.2 812.0 345.4 125.7 219.6 236.1 862.2 212.8 836.8 818.4 354.0 131.1 222.8 237.7 865.6 218.4 845.3 823.1 358.8 132.2 226.4 239.9 872.0 225.0 863.1 828.5 364.4 135.4 228.9 242.4 880.9 232.4 874.6 834.1 361.0 130.2 230.5 243.9 889.1 236.3 -.2 -.3 -3.4 -9.3 -.1 -.1 -1.1 -1.9 -2.9 -4.7 -7.7 -6.5 -10.2 268.5 4,183.1 4,349.3 271.8 4,589.1 276.7 4,853.7 264.0 4,286.4 268.5 4,304.1 273.7 4,424.6 264.8 4,504.1 274.8 4,565.7 267.3 4,675.1 274.1 4,756.4 276.2 4,822.4 280.0 4,884.5 1995 1996 5,075.6 5,237.5 583.5 616.5 253.4 215.4 115.0 Residual Addenda: Energy goods and services1 Personal consumption expenditures less food and energy. 261.3 4,037.5 1997 1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas. NOTE.-Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. 1999 1997 4,382.1 280.2 4,611.3 5,871.3 The residual line is the difference between the first line and the sum of the most detailed lines. Chain-type quantity indexes for the series in this table are shown in table 7.4. Contributions to the percent change in real personal consumption expenditures are shown in table 8.3. 276.5 4,951.6 50 • April 2000 SURVEY OF CURRENT BUSINESS Table 2.4.—Personal Consumption Expenditures by Type of Expenditure [Billions of dollars] Line Personal consumption expenditures Food and tobacco Food purchased for off-premise consumption (n.d.) Purchased meals and beverages' (n.d.) Food furnished to employees (including military) (n.d.) Food produced and consumed on farms (n.d.) Tobacco products (n.d.) , Addenda: Food excluding alcoholic beverages (n.d.) Alcoholic beverages purchased for off-premise consumption (n.d.). Other alcoholic beverages (n.d.) Clothing, accessories, and jewelry Shoes (n.d.) Clothing and accessories except shoes 2 Women's and children's (n.d.) Men's and boys' (n.d.) Standard clothing issued to military personnel (n.d) Cleaning, storage, and repair of clothing and shoes (s.) Jewelry and watches (d.) Other* (s.) Toilet articles and preparations (n.d.) Barbershops, beauty parlors, and health clubs (s.) , Owner-occupied nonfarm dwellings—space rent 4 (s.) Tenant-occupied nonfarm dwellings—rent5 (s.) Rental value of farm dwellings (s.) Other* (s.) Household operation Furniture, including mattresses and bedsprings (d.) Kitchen and other household appliances' d.) China, glassware, tableware, and utensils (d.) Other durable house furnishings8 (d.) Semidurable house furnishings9 (n.d.) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (n.d). Stationery and writing supplies (n.d.) Household utilities Electricity (s.) Gas (s.) Water and other sanitary services (s.) Fuel oil and coal (n.d.) Telephone and telegraph (s.) Domestic service (s.) Other 10 (s.) Medical care Drug preparations and sundries •» (n.d.) Ophthalmic products and orthopedic appliances (d.) Physicians (s.) Dentists (s.) Other professional services 12 is.) Hospitals and nursing homes 13 Propre i tary (sriZZ"ZI"ZZ~Il Government (s.) Nursing homes (s.) Health insurance Medical care and hospitalization14 (s.) Income loss 1 5 (s.) 1996 1997 1998 1 4,969.0 5,237.5 5,524.4 5,848.6 2 802.5 834.1 866.3 907.4 3 4 5 6 7 459.8 287.5 476.7 300.5 489.5 318.5 509.4 334.7 8.0 .5 8.2 .5 8.5 .5 8.8 .5 46.7 48.2 49.3 54.0 8 9 663.2 54.2 689.1 56.1 715.2 58.3 Line 745.2 61.3 10 38.4 40.7 43.5 46.9 11 317.3 333.3 348.2 367.9 12 37.1 210.4 135.5 74.9 38.8 219.5 140.8 78.6 40.0 230.9 147.7 83.2 41.6 244.4 155.6 88.8 .3 .3 .3 .3 12.2 38.1 19.2 12.7 40.3 21.7 13.5 41.2 22.3 13.4 44.2 24.0 20 67.4 71.6 76.1 80.5 21 22 45.0 22.4 48.0 23.5 50.6 25.5 53.8 26.8 23 740.8 772.5 809.8 855.9 24 25 26 27 529.3 177.0 555.4 180.6 585.5 186.0 622.6 193.6 6.0 6.2 6.4 6.6 28.5 30.2 31.9 33.1 28 555.0 589.2 617.5 646.5 29 30 31 32 33 34 47.5 29.1 23.8 47.7 29.7 47.3 50.9 30.0 25.4 50.5 31.0 49.8 54.1 30.9 27.1 53.4 32.6 51.5 57.0 32.3 29.2 57.6 34.6 54.3 13 14 15 16 17 18 19 Personal care Housing 1995 35 36 37 38 39 40 41 42 43 17.7 175.0 91.0 31.5 38.4 14.1 87.8 13.3 36.1 18.8 185.0 93.3 35.5 40.7 15.6 97.1 13.6 37.1 20.0 188.6 93.8 36.6 43.0 15.2 103.9 13.8 41.6 21.3 186.8 95.9 32.2 45.4 13.2 113.1 16.0 44.2 44 888.6 932.3 977.6 1,032.3 45 46 47 48 49 50 51 52 53 54 55 56 57 58 92.1 15.8 192.4 46.5 112.9 370.9 312.3 206.0 35.2 71.1 58.6 58.0 46.4 100.3 17.6 199.1 48.4 119.7 390.8 327.6 213.5 38.7 75.4 63.2 56.6 45.3 108.1 19.4 206.9 52.0 125.1 408.5 341.9 221.3 41.6 79.0 66.7 57.6 46.9 116.8 21.2 219.6 54.8 131.8 428.4 357.1 230.6 43.3 83.2 71.3 59.8 49.7 1.2 1.0 1.2 1.4 1. Consists of purchases (including tips) of meals and beverages from retail, service, and amusement establishments, hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial lunchrooms. Includes meals and beverages consumed both on- and off-premise. 2. Includes luggage. 3. Consists of watch, clock, and jewelry repairs, costume and dress suit rental, and miscellaneous personal services. 4. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting fixtures, kitchen cabinets, linoleum, storm windows and doors, window screens, and screen doors, but excludes rent for appliances and furniture and purchases of fuel and electricity. 5. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture. 6. Consists of transient hotels, motels, clubs, schools, and other group housing. 7. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, room air conditioners, sewing machines, vacuum cleaners, and other appliances. 8. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors, art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools. 9. Consists largely of textile house furnishings, including piece goods allocated to house furnishing use. Also includes lamp shades, brooms, and brushes. 10. Consists of maintenance services for appliances and house furnishings, moving and warehouse expenses, postage and express charges, premiums for fire and theft insurance on personal property less benefits and dividends, and miscellaneous household operation services. 11. Excludes drug preparations and related products dispensed by physicians, hospitals, and other medical services. 12. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and others providing health and allied services, not elsewhere classified. 13. Consists of (1) current expenditures (including consumption of fixed capital) of nonprofit hospitals and nursing homes, and (2) payments by patients to proprietary and government hospitals and nursing homes. 14. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and accidental death and dismemberment insurance provided by commercial insurance carriers, and (2) administrative expenses (including consumption of fixed capital) of nonprofit and self-insured health plans. 15. Consists of premiums, less benefits and dividends, for income loss insurance. 16. Consists of premiums, less benefits and dividends, for privately administered workers' compensation. 17. Consists of (1) operating expenses of commercial life insurance carriers, (2) administrative expenses of private noninsured pension plans and publicly administered government employee retirement plans, and (3) premiums, less benefits and dividends, of fraternal benefit societies. For commercial life insurance carriers, excludes expenses for accident and health insurance and includes profits of stock companies and services furnished without payment by banks, credit agencies, and investment companies. For pension and retirement plans, excludes services furnished without payment by banks, credit agencies, and investment companies. 18. Consists of current expenditures (including consumption of fixed capital) of trade unions and professional associations, employment agency fees, money order fees, spending for classified advertisements, tax return preparation Workers' compensation 16 (s.) Personal business Brokerage charges and investment counseling (s.) Bank service charges, trust services, and safe deposit box rental (s.). Services furnished without payment by financial intermediaries except life insurance carriers (s.). Expense of handling life insurance and pension plans 17 (s.) .... Legal services (s.) Funeral and burial expenses (s.) Other 18 (s.) Transportation User-operated transportation New autos (d.) Net purchases of used autos (d.) Other motor vehicles (d.) Tires, tubes, accessories, and other parts (d.) Repair, greasing, washing, parking, storage, rental, and leasing (s.). Gasoline and oil (n.d.) Bridge, tunnel, ferry, and road tolls (s.) Insurance 19 (s.) Purchased local transportation Mass transit systems (s.) Taxicab (s.) Purchased intercity transportation Railway (s.) Bus (s.) Airline (s.) Other 26 (s.) RGC rest Ion •**.». * *.*.......•» » * Books and maps (d.) Magazines, newspapers, and sheet music (n.d.) Nondurable toys and sport supplies (n.d.) Wheel goods, sports and photographic equipment, boats, and pleasure aircraft (d.). Video and audio goods, including musical instruments, and computer goods (d.). Video and audio goods, including musical instruments (d.) ... Computers, peripherals, and software (d.) Radio and television repair (s.) Flowers, seeds, and potted plants (n.d.) Admissions to specified spectator amusements Motion picture theaters (s.) Legitimate theaters and opera, and entertainments of nonprofit institutions (except athletics) (s.). Spectator sports 21 (s.) Clubs and fraternal organizations22 (s.) Commercial participant amusements 23 (s.) Pari-mutuel net receipts (s.) Other 24 (s.) Education and research Higher education 25 (s.) Nursery, elementary, and secondary schools 26 (s.) Other 27 (s.) 63 1995 1996 1997 10.4 10.3 9.6 8.7 406.8 435.1 488.3 528.6 36.5 38.3 43.2 42.9 50.9 47.9 59.2 55.7 166.1 177.0 203.3 218.4 81.8 48.0 13.3 22.7 81.3 51.5 14.5 24.8 89.0 55.0 15.3 26.9 91.3 58.5 16.0 29.5 560.3 594.6 623.7 647.4 517.8 82.2 50.0 80.2 36.9 122.2 550.2 81.9 51.4 84.3 38.7 134.2 575.6 82.8 53.4 87.2 39.7 145.9 598.0 90.6 55.5 113.3 3.4 29.7 10.4 7.1 3.2 32.1 .6 1.6 25.5 4.3 124.2 3.7 31.8 11.2 7.7 3.5 33.3 .6 1.8 26.2 4.7 126.2 4.0 36.3 11.8 8.1 3.7 36.3 .7 1.8 112.9 4.4 37.8 12.1 8.4 3.7 37.2 .7 2.0 29.0 4.7 29.5 5.1 401.6 429.6 457.8 494.7 23.1 26.2 47.2 38.5 24.9 27.6 50.6 40.5 26.6 29.5 53.7 43.2 27.8 31.9 57.7 47.1 101.4 41.7 153.8 77.0 80.0 84.0 92.6 55.9 21.0 3.6 13.8 19.2 5.5 7.6 56.4 23.6 3.7 14.9 20.7 5.8 8.0 57.8 26.2 3.9 15.6 22.2 6.4 8.7 62.2 30.4 3.9 16.5 23.8 6.8 9.4 6.1 12.7 43.9 3.5 93.1 6.9 14.0 48.3 3.5 100.8 7.1 14.4 52.3 3.6 109.0 7.6 14.9 56.2 3.7 118.6 114.5 122.3 130.7 139.2 62.9 26.4 25.2 66.1 27.4 28.8 69.2 29.0 32.4 71.8 30.1 37.3 Religious and welfare activities 28 (s.) 134.9 146.8 150.3 163.5 Foreign travel and other, net -20.7 -24.1 -21.8 -15.3 57.6 2.2 82.4 1.5 63.4 2.9 68.2 3.7 85.4 1.6 Foreign travel by U.S. residents 29 (s.) Expenditures abroad by U.S. residents (n.d.) Less: Expenditures in the United States by nonresidents 30 (s.) Less: Personal remittances in kind to nonresidents (n.d.) 54.1 2.3 75.4 1.6 86.5 1.6 services, and other personal business services. 19. Consists of premiums, less benefits and dividends, for motor vehicle insurance. 20. Consists of baggage charges, coastal and inland waterway fares, travel agents' fees, and airport bus fares. 21. Consists of admissions to professional and amateur athletic events and to racetracks. 22. Consists of dues and fees excluding insurance premiums. 23. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and swimming places; amusement devices and parks; golf courses; sightseeing buses and guides; private flying operations; casino gambling; and other commercial participant amusements. 24. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care services, cable TV, film processing, photographic studios, sporting and recreation camps, video cassette rentals, and recreational services, not elsewhere classified. 25. For private institutions, equals current expenditures (including consumption of fixed capital) less receipts-such as those from meals, rooms, and entertainments-accounted for separately in consumer expenditures, and less expenditures for research and development financed under contracts or grants. For government institutions, equals student payments of tuition. 26. For private institutions, equals current expenditures (including consumption of fixed capital) less receipts-such as those from meals, rooms, and entertainments-accounted for separately in consumer expenditures. For government institutions, equals student payments of tuition. Excludes child day care services, which are included in religious and welfare activities. 27. Consists of (1) fees paid to commercial, business, trade, and correspondence schools and for educational services, not elsewhere classified, and (2) current expenditures (including consumption of fixed capital) by research organizations and foundations for education and research. 28. For nonprofit institutions, equals current expenditures (including consumption of fixed capital) of religious, social welfare, foreign relief, and political organizations, museums, libraries, and foundations, t h e expenditures are net of receipts—such as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and excludes relief payments within the United States and expenditures by foundations for education and research. For proprietary and government institutions, equals receipts from users. 29. Beginning with 1981, includes U.S. students' expenditures abroad; these expenditures were $0.3 billion in 1981. 30. Beginning with 1981, includes nonresidents' student and medical care expenditures in the United States; student expenditures were $2.2 billion and medical expenditures were $0.4 billion in 1981. NOTE.—Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.). April 2000 • SURVEY OF CURRENT BUSINESS 51 Table 2.5.—Real Personal Consumption Expenditures by Type of Expenditure [Billions of chained (1996) dollars] 1995 1996 1997 1998 5,075.6 5,237.5 5,417.3 5,681.8 825.1 834.1 846.2 866.2 Food purchased for off-premise consumption (n.d.) Purchased meals and beverages' (n.d.) Food furnished to employees (including military) (n.d.) Food produced and consumed on farms (n.d.) Tobacco products (n.d.) 473.7 294.6 480.5 309.8 494.0 8.2 .5 48.1 476.7 300.5 8.2 .5 48.2 Addenda: Food excluding alcoholic beverages (n.d.) Alcoholic beverages purchased for off-premise consumption (n.d.). Other alcoholic beverages (n.d.) 681.9 55.4 689.1 56.1 699.7 57.4 Line Personal consumption expenditures .... Food and tobacco Clothing, accessories, and jewelry Shoes (n.d.) Clothing and accessories except shoes 2 Women's and children's (n.d.) Men's and boys' (n.d.) Standard clothing issued to military personnel (n.d) Cleaning, storage, and repair of clothing and shoes (s.) Jewelry and watches (d. Other Ms.) ....! Personal care Toilet articles and preparations (n.d.) Barbershops, beauty parlors, and health clubs (s.) Housing , Owner-occupied nonfarm dwellings—space rent 4 (s.) Tenant-occupied nonfarm dwellings—rent5 (s.) Rental value of farm dwellings (s.) Other 6 (s.) Household operation Furniture, including mattresses and bedsprings (d.) Kitchen and other household appliances' (d.) China, glassware, tableware, and utensils (d.) Other durable house furnishings8 (d.) Semidurable house furnishings9 (n.d.) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (n.d). Stationery and writing supplies (n.d.) Household utilities Electricity (s.) Gas(s.) Water and other sanitary services (s.) Fuel oil and coal (n.d.) Telephone and telegraph (s.) Domestic service (s.) Other I 0 (s.) Medical care Drug preparations and sundries 11 (n.d.) Ophthalmic products and orthopedic appliances (d.) Physicians (s.) Dentists (s.) Other professional services 12 (s.) Hospitals and nursing homes' 3 Hospitals Nonprofit (s.) Proprietary (s.) Government (s.) Nursing homes (s.) Health insurance Medical care and hospitalization14 (s.) Income loss 1 5 (s.) Workers' compensation16 (s.) 8.3 .5 47.1 317.6 8.4 .5 45.8 716.5 40.7 42.0 333.3 348.8 375.8 36.8 207.2 132.3 74.9 .3 12.4 36.7 19.5 38.8 219.5 140.8 78.6 .3 12.7 40.3 21.7 40.1 230.7 148.0 82.7 .3 13.2 42.8 21.8 42.0 249.8 160.6 89.2 .3 12.9 47.7 23.2 68.3 71.6 75.1 78.2 45.2 23.1 48.0 23.5 50.5 24.6 52.9 25.4 763.7 772.6 786.5 805.6 546.1 181.6 569.0 6.3 29.7 555.4 180.6 6.2 30.2 180.9 6.0 30.6 586.6 182.6 5.9 30.5 564.2 589.2 611.2 643.7 48.1 29.1 23.5 47.8 29.0 48.5 50.9 30.0 25.4 50.5 31.0 49.8 54.2 31.0 27.3 53.1 33.3 51.0 57.2 32.9 28.9 57.1 36.2 52.9 18.4 180.8 92.5 32.8 39.8 15.7 88.1 13.7 37.2 18.8 185.0 93.3 35.5 40.7 15.6 97.1 13.6 37.1 19.1 184.6 93.3 34.2 42.0 15.1 103.7 13.5 40.4 19.9 187.1 99.3 30.7 42.9 14.5 114.6 15.2 42.1 907.8 932.3 956.6 987.4 94.1 16.0 193.8 48.7 114.9 381.5 320.0 211.1 36.1 72.8 61.6 100.3 17.6 199.1 48.4 119.7 390.8 327.6 213.5 38.7 75.4 63.2 56.6 45.3 1.0 10.3 106.5 19.1 204.1 112.6 20.5 212.2 50.2 123.8 410.4 344.3 219.8 42.7 81.9 66.2 57.9 46.3 1.1 10.5 58.9 47.1 .9 10.9 49.7 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. , Brokerage charges and investment counseling (s.) Bank service charges, trust services, and safe deposit box rental (s.). Services furnished without payment by financial intermediaries except life insurance carriers (s.). Expense of handling life insurance and pension plans 17 (s.) .... Legal services (s.) Funeral and burial expenses (s.) Other 18 (s.) Education and research , Higher education 25 (s.) Nursery, elementary, and secondary schools 26 (s.) Other 27 (s.) , 1998 435.1 460.8 36.1 40.5 43.2 42.9 51.1 45.7 51.7 173.9 177.0 186.3 198.2 87.0 49.7 14.0 23.6 81.3 51.5 14.5 24.8 84.5 52.9 14.6 26.0 82.4 53.8 14.7 27.6 488.5 594.6 616.4 653.8 550.2 81.9 51.4 84.3 38.7 134.2 570.3 82.7 54.8 86.4 39.9 143.9 606.1 91.2 57.6 100.6 42.3 149.0 120.2 3.5 30.6 11.4 7.8 3.6 31.0 .7 1.6 24.3 4.4 124.2 3.7 31.8 11.2 7.7 3.5 33.3 .6 1.8 26.2 4.7 126.2 3.9 32.5 11.6 8.0 3.6 34.5 .7 1.8 27.4 4.6 127.7 3.9 33.6 12.0 8.3 3.7 35.7 .7 1.8 28.3 4.9 398.7 429.6 464.6 512.2 23.9 27.2 47.4 38.5 24.9 27.6 50.6 40.5 26.3 29.2 54.2 43.4 26.8 30.9 61.1 47.9 67.3 80.0 97.0 124.5 53.6 14.6 3.7 13.4 20.2 5.8 8.0 56.4 23.6 3.7 14.9 20.7 5.8 8.0 60.3 38.1 3.8 16.1 21.6 6.2 8.4 68.2 63.9 3.8 16.8 22.6 6.5 3.6 96.2 14,0 48.3 3.5 100.8 6.9 14.1 51.1 3.5 105.1 7.2 14.1 53.8 3.5 110.8 104 119.2 122.3 126.1 130.1 105 106 107 65.6 27.4 26.2 27.4 28.8 66.7 28.1 31.4 66.7 28.3 35.2 86 Books and maps (d.) Magazines, newspapers, and sheet music (n.d.) Nondurable toys and sport supplies (n.d.) Wheel goods, sports and photographic equipment, boats, and pleasure aircraft (d.). Video and audio goods, including musical instruments, and computer goods (d.). Video and audio goods, including musical instruments (d.) ... Computers, peripherals, and software (d.) Radio and television repair (s.) Flowers, seeds, and potted plants (n.d.) Admissions to specified spectator amusements Motion picture theaters (s.) Legitimate theaters and opera, and entertainments of nonprofit institutions (except athletics) (s.). Spectator sports 21 (s.) Clubs and fraternal organizations22 (s.) Commercial participant amusements23 (s.) Pari-mutuel net receipts (s.) -. Other 24 (s.) 1997 1996 424.4 574.7 User-operated transportation New autos (d.) Net purchases of used autos (d.) Other motor vehicles (d.) Tires, tubes, accessories, and other parts (d.) Repair, greasing, washing, parking, storage, rental, and leasing (s.). Gasoline and oil (n.d.) Bridge, tunnel, ferry, and road tolls (s.) Insurance19 (s.) Purchased local transportation Mass transit systems (s.) Taxicab(s.) Purchased intercity transportation Railway (s.) Bus (s.) Airline (s.) Other 20 (s.) Recreation 1995 532.3 83.5 51.2 81.9 36.8 124.5 Transportation 39.6 312.9 1204 400.8 336.5 216.9 41.3 78.3 64.3 56.0 45.0 1.0 10.0 Line Personal business 100 101 102 103 6.4 13.1 45.1 Religious and welfare activities 28 (s.) 108 138.7 146.8 145.9 154.7 Foreign travel and other, net 109 -21.4 -24.1 -20.7 -11.8 110 111 112 113 55.3 2.3 77.4 1.7 57.6 2.2 82.4 1.5 62.3 3.3 84.7 1.6 68.5 4.1 82.7 1.6 114 -2.9 .1 -2.8 -16.8 Foreign travel by U.S. residents 29 (s.) Expenditures abroad by U.S. residents (n.d.) Less: Expenditures in the United States by nonresidents30 (s.) Less: Personal remittances in kind to nonresidents (n.d.) Residual The residual line is the difference between the first line and the sum of the most detailed lines. See notes and footnotes to table 2.4. 52 • April 2000 SURVEY OF CURRENT BUSINESS Table 2.6.—Personal Consumption Expenditures by Type of Product [Billions of dollars] 1995 1996 4,969.0 5,237.5 5,524.4 5,848.6 589.7 616.5 642.9 698.2 Motor vehicles and parts New autos (70) Net purchases of used autos (71) Other motor vehicles (72) Tires, tubes, accessories, and other parts (73) 249.3 82.2 50.0 80.2 36.9 256.3 81.9 51.4 84.3 38.7 263.1 82.8 53.4 87.2 39.7 289.2 90.6 55.5 Furniture and household equipment Furniture, including mattresses and bedsprings (29) Kitchen and other household appliances (30) China, glassware, tableware, and utensils (31) Video and audio goods, including musical instruments, and computer goods (91). Video and audio goods, including musical instruments (92) Computers, peripherals, and software (93) Other durable house furnishings (32) 225.0 47.5 29.1 23.8 77.0 236.9 50.9 30.0 25.4 80.0 249.5 54.1 30.9 27.1 84.0 268.7 57.0 32.3 29.2 92.6 55.9 21.0 47.7 56.4 23.6 50.5 57.8 26.2 53.4 62.2 30.4 57.6 Other Ophthalmic products and orthopedic appliances (46) Wheel goods, sports and photographic equipment, boats, and pleasure aircraft (90). Jewelry and watches (18) Books and maps (87) 115.4 15.8 38.5 123.3 17.6 40.5 130.3 19.4 43.2 140.3 21.2 47.1 38.1 23.1 40.3 24.9 41.2 26.6 44.2 27.8 Line Personal consumption expenditures Durable goods Nondurable goods Food Food purchased for off-premise consumption (3) Purchased meals and beverages (4) Food furnished to employees (including military) and food produced and consumed on farms (5+6). Addenda: Food excluding alcoholic beverages(8) Alcoholic beverages purchased for off-premise consumption (9). Other alcoholic beverages (10) 1997 101.4 41.7 1,497.3 1,574.1 1,641.7 1,708.9 755.8 459.8 287.5 8.4 786.0 476.7 300.5 8.7 817.0 853.4 489.5 9.0 509.4 334.7 9.3 663.2 54.2 56.1 715.2 58.3 745.2 61.3 318.5 38.4 40.7 43.5 46.9 Clothing and shoes Shoes (12) Women's and children's clothing and accessories except shoes (14). Men's and boys' clothing and accessories except shoes (15+16). 247.8 37.1 135.5 258.6 38.8 140.8 271.2 40.0 147.7 286.3 41.6 155.6 75.2 78.9 83.5 89.1 Gasoline, fuel oil, and other energy goods Gasoline and oil (75) Fuel oil and coal (40) 127.4 113.3 14.1 139.7 124.2 15.6 141.4 126.2 15.2 126.2 112.9 13.2 Other Tobacco products (7) Toilet articles and preparations (21) Semidurable house furnishings (33) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (34). Drug preparations and sundries (45) Nondurable toys and sport supplies (89) Stationery and writing supplies (35) Net foreign remittances (111 less 113) Magazines, newspapers, and sheet music (88) Flowers, seeds, and potted plants (95) 366.4 46.7 45.0 29.7 47.3 389.8 48.2 48.0 31.0 49.8 412.1 49.3 50.6 32.6 51.5 442.9 54.0 53.8 34.6 54.3 92.1 47.2 17.7 .7 26.2 13.8 100.3 50.6 18.8 .6 27.6 14.9 108.1 53.7 20.0 1.3 29.5 15.6 116.8 57.7 21.3 2.0 31.9 16.5 2,882.0 3,047.0 3,239.8 3,441.5 740.8 772.5 Services Housing NOTE.—The figures in parentheses are the line numbers of the corresponding items in table 2.4. Line 1998 855.9 Household operation Electricity (37) Gas (38) Water and other sanitary services (39) Telephone and telegraph (41) Domestic service (42) Other (43) Transportation User-operated transportation Repair, greasing, washing, parking, storage, rental, and leasing (74). Other user-operated transportation (76+77) Purchased local transportation Mass transit systems (79) Taxicab (80) Purchased intercity transportation Railway (82) Bus (83) Airline (84) Other (85) 1995 67 1996 1997 1998 177.0 6.0 28.5 555.4 180.6 6.2 30.2 585.5 186.0 6.4 31.9 622.6 193.6 6.6 33.1 298.1 91.0 31.5 38.4 87.8 13.3 36.1 317.3 93.3 35.5 40.7 97.1 13.6 37.1 332.7 93.8 36.6 43.0 103.9 13.8 41.6 346.9 95.9 32.2 45.4 197.7 155.3 122.2 214.2 169.7 134.2 234.4 186.3 145.9 245.2 195.9 153.8 33.1 10.4 7.1 3.2 35.5 11.2 7.7 3.5 33.3 .6 1.8 26.2 4.7 40.3 11.8 8.1 3.7 36.3 .7 1.8 29.0 4.7 42.1 12.1 8.4 3.7 37.2 .7 850.2 206.9 894.3 219.6 54.8 131.8 428.4 529.3 Owner-occupied nonfarm dwellings—space rent (24) Tenant-occupied nonfarm dwellings—rent (25) Rental value of farm dwellings (26) Other (27) 32.1 .6 1.6 25.5 4.3 113.1 16.0 44.2 2.0 29.5 5.1 Medical care Physicians (47) Dentists (48) Other professional services (49) Hospitals and nursing homes (50) Health insurance (56) 780.7 192.4 46.5 112.9 370.9 58.0 814.4 199.1 48.4 119.7 390.8 56.6 Recreation 176.0 19.2 156.8 191.1 20.7 170.3 205.3 22.2 183.2 221.0 23.8 197.3 688.7 53.8 12.2 22.4 19.2 406.8 36.5 38.3 737.5 58.0 12.7 23.5 21.7 435.1 43.2 42.9 807.4 61.2 13.5 25.5 22.3 488.3 50.9 47.9 878.2 64.1 13.4 26.8 24.0 528.6 59.2 55.7 166.1 177.0 203.3 218.4 81.8 48.0 13.3 22.7 114.5 62.9 26.4 25.2 134.9 -21.4 54.1 75.4 81.3 51.5 14.5 24.8 122.3 66.1 27.4 28.8 146.8 -24.8 57.6 82.4 89.0 55.0 15.3 26.9 130.7 69.2 29.0 32.4 150.3 -23.1 63.4 86.5 91.3 58.5 16.0 29.5 139.2 71.8 30.1 37.3 163.5 -17.3 68.2 85.4 Admissions to specified spectator amusements (96) Other (94+100+101+102+103) Other Personal care Cleaning, storage, and repair of clothing and shoes (17) Barbershops, beauty parlors, and health clubs (22) Other (19) Personal business Brokerage charges and investment counseling (61) Bank service charges, trust services, and safe deposit box rental (62). Services furnished without payment by financial intermediaries except life insurance carriers (63). Expense of handling life insurance and pension plans (64) Legal services (65) Funeral and burial expenses (66) Other (67) Education and research Higher education (105) Nursery, elementary, and secondary schools (106) Other (107) Religious and welfare activities (108) Net foreign travel Foreign travel by U.S. residents (110) Less: Expenditures in the United States by nonresidents (112). 100 101 52.0 125.1 408.5 57.6 59.8 April 2000 • SURVEY OF CURRENT BUSINESS 53 Table 2.7.—Real Personal Consumption Expenditures by Type of Product [Billions of chained (1996) dollars] Line 1997 1995 Line 5,075.6 5,237.5 5,417.3 5,681.8 583.5 616.5 657.4 731.5 Motor vehicles and parts New autos (70) Net purchases of used autos (71) Other motor vehicles (72) Tires, tubes, accessories, and other parts (73). 253.4 83.5 51.2 81.9 36.8 256.3 81.9 51.4 84.3 38.7 263.8 82.7 54.8 86.4 39.9 291.9 91.2 57.6 100.6 42.3 Furniture and household equipment Furniture, including mattresses and bedsprings (29) Kitchen and other household appliances (30) China, glassware, tableware, and utensils (31) Video and audio goods, including musical instruments, and computer goods (91). Video and audio goods, including musical instruments (92) Computers, peripherals, and software (93) Other durable house furnishings (32) 215.4 48.1 29.1 23.5 67.3 236.9 50.9 30.0 25.4 80.0 262.1 54.2 31.0 27.3 97.0 297.4 57.2 32.9 28.9 53.6 14.6 47.8 56.4 23.6 50.5 60:3 38.1 53.1 68.2 63.9 57.1 Other Ophthalmic products and orthopedic appliances (46) Wheel goods, sports and photographic equipment, boats, and pleasure aircraft (90). Jewelry and watches (18) Books and maps (87) 115.0 16.0 38.5 123.3 17.6 40.5 131.6 19.1 43.4 142.7 20.5 47.9 36.7 23.9 40.3 24.9 42.8 26.3 47.7 26.8 1,529.0 1,574.1 1,619.9 1,685.3 777.0 473.7 294.6 8.7 786.0 476.7 300.5 8.7 799.1 480.5 309.8 820.6 681.9 55.4 689.1 56.1 Personal consumption expenditures . Durable goods Nondurable goods Food . Food purchased for off-premise consumption (3) Purchased meals and beverages (4) Food furnished to employees (including military) and food produced and consumed on farms (5+6). Addenda: Food excluding alcoholic beverages(8) Alcoholic beverages purchased for off-premise consumption (9). Other alcoholic beverages (10) Clothing and shoes Shoes (12) Women's and children's clothing and accessories except shoes (14). Men's and boys' clothing and accessories except shoes 57.4 124.5 494.0 317.6 8.9 716.5 60.0 39.6 40.7 42.0 44.1 244.3 36.8 132.3 258.6 38.8 140.8 271.1 40.1 148.0 292.2 42.0 160.6 75.2 78.9 83.0 89.5 (15+16). Gasoline, fuel oil, and other energy goods Gasoline and oil (75) Fuel oil and coal (40) 33 34 35 135.9 120.2 15.7 139.7 124.2 15.6 141.3 126.2 15.1 142.1 127.7 14.5 Other Tobacco products (7) Toilet articles and preparations (21) Semidurable house furnishings (33) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (34). Drug preparations and sundries (45) Nondurable toys and sport supplies (89) Stationery ana writing supplies (35) Net foreign remittances (111 less 113) Magazines, newspapers, and sheet music (88) Flowers, seeds, and potted plants (95) 36 37 38 39 40 372.0 48.1 45.2 29.0 48.5 389.8 48.2 48.0 31.0 49.8 408.5 47.1 50.5 33.3 51.0 430.6 45.8 52.9 36.2 52.9 41 42 43 44 45 46 94.1 47.4 18.4 .6 27.2 13.4 100.3 50.6 18.8 .6 27.6 14.9 106.5 54.2 19.1 1.7 29.2 16.1 112.6 61.1 19.9 2.4 30.9 16.8 47 2,963.4 3,047.0 3,140.3 3,268.0 48 763.7 772.6 786.5 805.6 Services Housing , NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. 1997 1995 1998 546.1 181.6 6.3 29.7 555.4 180.6 6.2 30.2 569.0 Household operation Electricity (37) Gas (38) Water and other sanitary services (39) Telephone and telegraph (41) Domestic service (42) Other (43) 304.0 92.5 32.8 39.8 88.1 13.7 37.2 317.3 93.3 35.5 40.7 97.1 13.6 37.1 327.1 93.3 34.2 42.0 103.7 13.5 40.4 344.3 99.3 30.7 42.9 Transportation User-operated transportation Repair, greasing/washing, parking, storage, rental, and leasing (74). Other user-operated transportation (76+77) Purchased local transportation Mass transit systems (79) Taxicab(80) Purchased intercity transportation Railway (82) Bus (83) Airline (84) : Other (85) 201.0 158.6 124.5 214.2 169.7 134.2 226.3 180.2 143.9 234.2 186.4 149.0 34.1 11.4 7.8 35.5 11.2 7.7 3.5 33.3 .6 36.4 11.6 8.0 3.6 34.5 .7 1.8 27.4 4.6 37.5 12.0 8.3 3.7 35.7 .7 1.8 28.3 4.9 Medical care Physicians (47) Dentists (48) : Other professional services (49) Hospitals and nursing homes (50) Health insurance (56) 797.7 193.8 48.7 114.9 381.5 58.9 814.4 199.1 48.4 119.7 390.8 56.6 831.0 204.1 49.7 120.4 400.8 56.0 854.4 212.2 50.2 123.8 410.4 57.9 Recreation Admissions to specified spectator amusements (96) Other(94+100+101+102+103) 181.7 20.2 161.6 191.1 20.7 170.3 199.1 21.6 177.6 208.8 22.6 186.1 Other Personal care ...'. Cleaning, storage, and repair of clothing and shoes (17) Barbershops, beauty parlors, and health clubs (22) Other (19) Personal business Brokerage charges and investment counseling (61) Bank service charges, trust services, and safe deposit box rental (62). Services furnished without payment by financial intermediaries except life insurance carriers (63). Expense of handling life insurance and pension plans (64) Legal services (65) Funeral and burial expenses (66) Other (67) Education and research Higher education (105) Nursery, elementary, and secondary schools (106) Other (107) Religious and welfare activities (108) Net foreign travel Foreign travel by U.S. residents (110) Less: Expenditures in the United States by nonresidents (112). 715.3 55.1 12.4 23.1 19.5 424.4 36.1 40.5 737.5 58.0 12.7 23.5 21.7 435.1 43.2 42.9 770.1 59.5 13.2 24.6 21.8 460.8 51.1 45.7 820.3 61.5 12.9 25.4 23.2 488.5 60.9 51.7 89 173.9 177.0 186.3 198.2 90 100 101 87.0 49.7 14.0 23.6 119.2 65.6 27.4 26.2 1387 -22.1 55.3 77.4 81.3 51.5 14.5 24.8 122.3 66.1 27.4 28.8 146.8 -24.8 57.6 82.4 84.5 52.9 14.6 26.0 126.1 66.7 28.1 31.4 145.9 -22.4 62.3 84.7 82.4 53.8 14.7 27.6 130.1 66.7 28.3 35.2 154.7 -14.3 68.5 82.7 102 -2.7 -2.9 -16.6 Owner-occupied nonfarm dwellings—space rent (24) Tenantroccupied nonfarm dwellings—rent (25) Rental value of farm dwellings (26) Other (27) 3.6 31.0 .7 1.6 24.3 4.4 , 91 92 93 94 95 96 97 98 99 1.8 26.2 4.7 The residual line is the difference between the first line and the sum of the most detailed lines, Chain-type quantity indexes for the series in this table are shown in table 7.5. The figures in parentheses are the line numbers of the corresponding items in table 2.4. 180.9 6.0 30.6 586.6 182.6 5.9 30.5 114.6 15.2 42.1 54 • April 2000 SURVEY OF CURRENT BUSINESS Table 2.8.-—Personal Income by Type of Income [Billions of dollars; months seasonally adjusted at annual rates] Wage and salary disbursements Private industries Year and month Personal income All industries Goods-producing Total Total 6,200.9 6,547.4 6,951.1 7,358.9 7,791.8 3,424.7 3,626.5 3,888.9 4,186.0 4,472.3 2,802.0 2,985.5 3,224.4 3,493.2 3,745.8 6,095.0 6,125.1 6,148.4 6,157.8 6,183.6 6,203.7 6,223.4 6,250.7 6,278.2 6,304.4 6,331.3 3,353.0 3,363.9 3,372.8 3,396.1 3,392.3 3,414.2 3,434.0 3,444.9 3,462.7 3,477.3 3,488.8 3,496.2 6,352.5 6,413.2 6,449.7 6,472.0 6,506.8 6,549.5 6,563.5 6,595.9 6,631.9 6,643.4 6,676.4 6,713.8 Manufacturing Distributive Service Government Other labor income Proprietors' income with inventory valuation and capital consumption adjustments Farm Nonfarm Rental income of persons with capital consumption adjustment Personal dividend income Personal interest income Transfer payments to persons Less: Personal contributions for social insurance 1,038.7 1,082.4 647.5 673.7 718.8 757.5 779.7 782.1 822.4 879.1 944.6 1,005.8 1,156.3 1,254.9 1,369.8 1,509.9 1,657.6 622.7 641.0 664.4 692.8 726.5 497.0 490.0 500.9 515.7 535.8 22.2 34.3 29.5 25.1 31.3 475.5 510.5 549.1 581.0 627.3 117.9 129.7 130.2 137.4 145.9 254.0 297.4 333.4 348.3 364.3 792.5 810.6 854.9 897.8 931.3 885.9 928.8 962.4 983.6 1,018.2 268.8 280.4 298.1 315.9 334.6 2,735.2 2,744.8 2,753.5 2,776.2 2,772.1 2,791.7 2,810.8 2,821.0 2,838.2 2,851.4 2,861.6 2,867.3 853.1 854.6 859.3 855.9 860.1 865.7 867.0 871.7 874.0 876.4 874.4 640.6 641.0 641.7 645.5 642.9 644.9 649.3 649.6 652.3 653.2 654.9 654.1 766.8 768.5 769.9 777.2 774.7 780.6 784.0 787.8 791.6 792.3 795.3 796.5 1,117.6 1,123.2 1,128.9 1,139.8 1,141.4 1,151.0 1,161.1 1,166.2 1,174.9 1,185.1 1,190.0 1,196.4 617.8 619.1 619.3 619.8 620.2 622.5 623.2 623.9 624.5 625.9 627.2 628.9 503.9 502.2 500.6 499.7 498.5 497.3 496.1 495.0 493.9 492.9 492.0 491.2 22.4 21.3 20.4 19.8 19.6 19.6 19.3 20.3 21.9 25.5 27.4 29.0 465.7 467.0 468.8 467.9 471.9 475.6 476.5 480.6 480.4 481.7 484.0 485.9 116.9 117.0 116.8 115.2 115.0 115.1 115.1 116.4 118.3 118.2 124.7 126.6 248.5 248.0 248.6 249.6 250.8 252.0 250.2 250.5 254.8 257.7 263.5 273.1 782.5 784.8 787.1 790.1 792.0 793.4 793.6 794.7 795.9 798.2 798.9 799.0 865.9 870.3 875.3 876.9 884.4 884.5 888.2 891.2 894.0 898.9 897.9 903.5 264.0 264.8 265.4 267.0 266.7 268.2 269.4 270.1 271.2 272.1 272.8 273.3 3,499.8 3,541.6 3,559.8 3,574.7 3,597.2 3,631.1 3,632.1 3,657.6 3,682.2 3,688.4 3,713.1 3,740.3 2,868.4 2,906.9 2,923.1 2,936.8 2,957.2 2,991.0 2,990.7 3,014.4 3,037.4 3,042.5 3,065.8 3,091.7 871.4 887.3 887.6 897.2 902.5 909.3 912.9 917.9 921.9 923.7 929.7 936.4 648.4 660.6 659.1 667.8 670.7 674.8 677.5 680.2 682.8 683.0 686.9 692.9 794.2 804.9 811.3 809.3 814.9 825.7 821.0 828.6 835.4 835.1 840.6 847.8 1,202.8 1,214.7 1,224.2 1,230.3 1,239.8 1,255.9 1,256.8 1,267.9 1,280.1 1,283.7 1,295.5 1,307.5 631.4 634.7 636.8 637.9 640.0 640.1 641.4 643.1 644.8 645.9 647.3 648.6 490.5 489.9 489.5 489.2 489.1 489.1 489.3 489.6 490.0 490.4 491.3 492.5 29.6 31.0 32.6 35.1 36.5 37.4 38.6 38.2 37.0 32.7 31.4 30.9 486.6 495.7 502.1 504.2 512.9 513.7 515.1 513.6 517.8 520.2 520.9 522.9 127.7 128.6 129.1 128.8 129.0 129.3 129.7 130.1 130.5 131.0 131.4 131.8 280.1 286.6 291.1 289.1 289.3 292.8 297.5 302.7 307.0 308.5 310.7 313.6 796.2 796.8 798.6 803.0 805.9 808.8 811.5 814.6 817.8 821.2 824.6 828.2 914.6 918.1 923.3 925.2 925.5 928.1 930.5 931.8 933.4 935.1 938.7 941.0 272.6 275.2 276.3 277.2 278.5 280.7 280.7 282.3 283.8 284.1 285.7 287.4 June July August September ... October November.... December .... 6,764.3 6,808.2 6,850.3 6,872.1 6,899.7 6,930.1 6,955.7 6,997.3 7,027.4 7,067.4 7,108.0 7,132.7 3,757.9 3,792.1 3,818.3 3,830.2 3,848.0 3,867.1 3,886.4 3,920.3 3,939.6 3,969.5 4,010.9 4,025.8 3,102.9 3,135.1 3,160.5 3,170.7 3,187.4 3,204.3 3,220.8 3,253.1 3,271.1 3,298.6 3,337.7 3,350.8 944.5 952.2 959.9 962.9 966.3 968.5 973.2 979.7 985.7 995.8 1,004.8 1,012.4 698.4 702.7 708.2 710.9 711.7 713.4 716.5 720.9 724.8 733.2 740.1 744.8 1,309.6 1,327.1 1,336.4 1,342.2 1,352.2 1,363.5 1,370.5 1,385.2 1,393.4 1,404.9 1,422.9 1,429.7 655.0 657.0 657.8 659.6 660.6 662.9 665.6 667.2 668.5 670.9 673.2 675.0 494.9 496.3 497.4 498.1 499.1 500.2 501.3 502.3 503.5 504.6 505.8 507.0 32.7 32.6 32.2 30.8 30.2 29.6 29.5 28.9 28.2 28.1 26.5 24.3 532.1 537.8 539.8 541.8 544.9 548.0 551.6 552.8 557.7 562.2 558.5 562.4 132.3 132.5 132.5 132.5 132.1 131.5 130.3 129.4 128.5 126.8 126.5 126.8 316.8 320.2 323.8 327.0 330.3 333.4 335.9 338.5 341.0 343.0 344.7 345.7 831.4 835.5 840.1 846.5 850.8 854.5 856.0 859.5 863.6 870.0 873.8 876.8 956.1 953.3 959.9 959.6 959.9 962.5 962.7 965.4 966.5 966.2 966.8 970.2 289.9 292.2 293.8 294.5 295.6 296.8 297.9 300.0 301.2 303.0 305.5 306.3 1998 January February March April May June July August September ... October November ... December..., 7,158.3 7,196.2 7,229.6 7,261.0 7,296.7 7,331.2 7,380.2 7,419.3 7,441.3 7,481.5 7,556.5 7,554.5 4,049.6 4,079.9 4,099.0 4,122.4 4,151.0 4,165.3 4,199.3 4,232.5 4,241.4 4,272.0 4,301.1 4,318.8 3,369.9 3,396.8 3,414.2 3,435.3 3,461.6 3,474.0 3,505.8 3,535.4 3,542.0 3,571.2 3,598.4 3,614.0 1,016.4 1,020.3 1,024.3 1,030.1 1,033.6 1,032.7 1,041.2 1,046.5 1,049.0 1,053.7 1,056.4 1,059.7 744.6 747.5 750.9 753.1 756.0 754.3 758.6 762.5 765.8 766.0 765.5 765.2 913.9 921.6 923.4 928.5 938.0 939.5 947.9 954.3 958.4 963.8 970.9 975.0 1,439.6 1,454.8 1,466.4 1,476.6 1,490.0 1,501.7 1,516.6 1,534.6 1,534.6 1,553.6 1,571.1 1,579.3 679.7 683.1 684.9 687.0 689.4 691.4 693.5 697.1 699.4 700.9 702.8 704.8 508.2 509.5 510.8 512.1 513.5 514.8 516.2 517.6 519.1 520.6 522.1 523.6 21.0 17.1 14.4 17.8 18.6 19.6 20.9 22.8 25.0 29.6 60.0 33.7 564.0 568.8 574.4 573.6 573.7 579.2 584.2 582.1 584.4 592.4 595.3 600.3 128.4 129.5 130.8 132.3 133.8 135.5 137.5 139.3 141.1 143.3 150.9 146.7 345.7 346.1 346.6 346.8 346.9 347.2 347.4 347.8 348.9 350.6 351.9 353.2 876.6 879.8 883.9 890.4 895.3 900.1 907.1 909.9 910.8 906.8 906.3 906.2 973.4 975.8 980.9 978.1 977.9 984.1 984.4 985.8 989.4 986.9 991.1 995.1 308.6 310.2 311.2 312.5 314.1 314.7 316.7 318.5 318.9 320.6 322.2 323.1 1999 January February March April May June July August September .. October November .... December ..., 7,599.0 7,636.4 7,655.3 7,692.7 7,721.8 7,783.3 7,806.0 7,840.0 7,848.1 7,943.4 7,976.8 7,998.6 4,350.7 4,377.9 4,385.8 4,410.4 4,432.1 4,455.4 4,491.4 4,508.2 4,528.5 4,556.7 4,569.5 4,600.5 3,637.6 3,661.7 3,667.7 3,690.7 3,711.3 3,731.9 3,764.2 3,777.6 3,795.6 3,821.0 3,831.3 3,859.0 1,060.4 1,063.8 1,064.4 1,070.2 1,074.8 1,080.4 1,089.8 1,087.3 1,093.6 1,101.4 1,100.3 1,102.5 766.3 767.2 767.5 770.5 774.9 779.0 786.0 785.2 788.0 793.7 789.3 789.0 981.3 989.7 987.8 993.4 1,021.1 1,037.4 1,596.0 1,608.2 1,615.5 1,627.1 1,640.0 1,648.4 1,664.6 1,677.2 1,684.6 1,700.8 1,709.9 1,719.1 713.1 716.1 718.1 719.8 720.8 723.5 727.2 730.7 732.9 735.7 738.3 741.5 526.1 528.1 529.8 531.3 533.0 534.8 536.7 538.6 540.3 541.9 543.7 545.4 33.6 33.7 30.1 30.1 27.3 45.0 23.5 21.4 18.0 44.9 46.1 21.8 603.7 608.0 610.8 618.4 619.4 625.8 630.2 636.4 632.5 639.3 648.7 654.1 147.6 148.8 149.3 148.6 147.3 150.5 144.9 143.6 128.5 148.2 149.2 144.4 354.6 356.0 357.6 359.3 361.2 363.0 364.9 367.0 369.0 371.1 373.1 375.2 905.8 906.8 909.6 914.3 921.0 926.2 932.4 938.8 945.3 952.2 958.6 964.6 1,004.7 1,006.6 1,012.0 1,011.3 1,013.0 1,016.4 1,017.8 1,022.6 1,023.6 1,028.3 1,027.8 1,034.4 327.7 329.3 329.6 331.1 332.3 333.7 335.7 336.6 337.8 339.3 339.9 ,341.8 2000 January February 8,057.3 8,089.9 4,641.4 4,654.2 3,889.6 3,900.3 1,115.5 1,119.9 796.4 800.2 1,041.9 1,039.7 1,732.3 1,740.6 751.8 753.9 548.3 550.2 22.4 23.4 655.0 659.2 145.5 146.5 377.5 379.7 970.0 975.2 1,043.6 1,048.7 346.6 347.3 1995 1996 1997 1998 1999 908.2 975.5 1995 January February March April May June July August September ... October November.... December.... 1996 January February March April fy June July August September ... October November .... December.... 1997 January February March May Z Z I 855.8 864.2 865.5 868.9 872.3 877.1 897.9 910.0 996.4 1,003.1 1,009.8 1,013.1 1,017.3 1,018.8 April 2000 • 55 SURVEY OF CURRENT BUSINESS Table 2.9.—Personal Income and Its Disposition [Months seasonally adjusted at annual rates] Billions of dollars Disposable personal income Per capita Less: Personal outlays Year and month Personal income Less: Personal tax and nontax payments Equals: Disposable personal income Total Personal consumption expenditures Interest paid by persons Personal transfer payments to rest of the world (net) Equals: Personal saving Total, billions of chained (1996) dollars 1 Current dollars Chained (1996) dollars' Population (mid-period, thousands) Personal saving as a percentage of disposable personal income 6,200.9 6,547.4 6,951.1 7,358.9 7,791.8 778.3 869.7 968.3 1,072.6 1,152.1 5,422.6 5,677.7 5,982.8 6,286.2 6,639.7 5,120.2 5,405.6 5,711.7 6,056.6 6,483.3 4,969.0 5,237.5 5,524.4 5,848.6 6,257.3 134.7 149.9 166.7 185.7 201.7 16.5 18.2 20.6 22.3 24.3 302.4 272.1 271.1 229.7 156.3 5,539.1 5,677.7 5,866.7 6,107.1 6,349.4 20,613 21,385 22,320 23,231 24,307 21,055 21,385 21,887 22,569 23,244 263,073 265,504 268,046 270,595 273,161 5.6 4.8 4.5 3.7 2.4 June July August September... October November.... December.... 6,095.0 6,109.6 6,125.1 6,148.4 6,157.8 6,183.6 6,203.7 6,223.4 6,250.7 6,278.2 6,304.4 6,331.3 748.2 752.2 755.0 809.4 762.2 769.9 776.0 781.0 787.6 793.7 799.6 805.3 5,346.8 5,357.4 5,370.1 5,339.0 5,395.6 5,413.8 5,427.7 5,442.3 5,463.1 5,484.5 5,504.7 5,526.0 5,006.8 4,996.9 5,032.7 5,042.9 5,092.9 5,138.2 5,125.8 5,178.5 5,171.0 5,177.3 5,220.1 5,259.0 4,864.7 4,853.7 4,887.5 4,897.3 4,945.4 4,988.3 4,974.4 5,026.0 5,015.3 5,018.4 5,059.3 5,097.6 126.1 127.3 129.2 130.0 131.9 134.3 135.0 136.1 139.4 140.9 142.8 143.3 15.9 15.9 15.9 15.6 15.6 15.6 16.4 16.4 16.4 18.0 18.0 18.0 340.0 360.5 337.4 296.1 302.7 275.5 301.8 263.9 292.1 307.2 284.6 267.0 5,515.3 5,513.6 5,517.2 5,471.5 5,521.3 5,534.2 5,538.8 5,542.2 5,559.0 5,568.9 5,587.4 5,599.7 20,411 20,439 20,472 20,339 20,538 20,590 20,625 20,662 20,721 20,785 20,847 20,915 21,054 21,034 21,033 20,844 21,017 21,048 21,047 21,041 21,085 21,105 21,160 21,194 261,953 262,123 262,311 262,506 262,707 262,929 263,158 263,396 263,645 263,869 264,055 264,216 6.4 6.7 6.3 5.5 5.6 5.1 5.6 4.8 5.3 5.6 5.2 1996 January February March April May June July August September ... October November.... December.... 6,352.5 6,413.2 6,449.7 6,472.0 6,506.8 6,549.5 6,563.5 6,595.9 6,631.9 6,643.4 6,676.4 6,713.8 819.4 832.6 840.2 896.4 855.3 865.7 868.7 877.4 885.8 890.1 898.0 906.3 5,533.1 5,580.6 5,609.5 5,575.6 5,651.5 5,683.8 5,694.8 5,718.5 5,746.1 5,753.3 5,778.4 5,807.5 5,251.6 5,303.3 5,321.7 5,372.1 5,389.1 5,390.4 5,408.6 5,438.2 5,454.3 5,487.9 5,507.7 5,542.3 5,090.9 5,141.8 5,158.8 5,207.7 5,223.1 5,223.2 5,239.9 5,268.2 5,282.8 5,314.8 5,332.9 5,365.9 143.3 144.2 145.5 146.4 148.1 149.2 150.4 151.7 153.3 153.7 155.5 157.1 17.4 17.4 17.4 18.0 18.0 18.0 18.2 18.2 18.2 19.3 19.3 19.3 281.5 277.3 287.8 203.5 262.4 293.4 286.2 280.3 291.8 265.4 270.7 265.2 5,593.4 5,629.4 5,643.3 5,594.0 5,661.3 5,692.7 5,691.9 5,710.8 5,726.3 5,715.0 5,727.9 5,746.8 20,930 21,096 21,190 21,046 21,316 21,420 21,442 21,511 21,596 21,604 21,681 21,777 21,158 21,280 21,318 21,116 21,353 21,454 21,431 21,482 21,521 21,460 21,492 21,549 264,369 264,535 264,723 264,921 265,130 265,351 265,588 5.1 5.0 5.1 3.7 4.6 5.2 5.0 4.9 5.1 4.6 4.7 4.6 1997 January February March April May June July August September... October November.... December.... 6,764.3 6,808.2 6,850.3 6,872.1 6,899.7 6,930.1 6,955.7 6,997.3 7,027.4 7,067.4 7,108.0 7,132.7 925.6 935.2 941.9 946.3 954.4 962.4 969.2 979.8 986.7 996.1 1,007.9 1,014.1 5,838.6 5,873.0 5,908.4 5,925.7 5,945.3 5,967.6 5,986.5 6,017.5 6,040.7 6,071.4 6,100.0 6,118.6 5,587.7 5,610.6 5,631.5 5,629.4 5,641.3 5,679.8 5,739.5 5,761.0 5,777.6 5,802.2 5,829.4 5,850.4 5,410.2 5,431.6 5,450.6 5,446.9 5,457.8 5,494.3 5,551.5 5,571.2 5,584.7 5,607.5 5,633.9 5,652.7 157.9 159.5 161.3 162.7 163.7 165.7 166.5 168.3 171.4 173.1 173.8 176.0 19.6 19.6 19.6 19.8 19.8 19.8 21.5 21.5 21.5 21.7 21.7 21.7 251.0 262.4 276.9 296.3 304.0 287.9 247.0 256.5 263.0 269.1 270.6 268.2 5,763.6 5,781.2 5,810.5 5,821.7 5,842.3 5,858.1 5,869.1 5,894.4 5,905.3 5,928.0 5,954.8 5,971.8 21,880 21,994 22,109 22,156 22,212 22,276 22,326 22,420 22,485 22,579 22,670 22,725 21,599 21,650 21,743 21,767 21,827 21,867 21888 21,961 21,981 22,046 22,130 22,179 7,158.3 7,196.2 7,229.6 7,261.0 7,296.7 7,331.2 7,380.2 7,419.3 7,441.3 7,481.5 7,556.5 7,554.5 1,023.7 1,033.5 1,036.3 1,046.9 1,059.2 1,067.9 1,078.2 1,091.1 1,095.6 1,102.6 1,113.7 1,122.8 6,134.6 6,162.7 6,193.3 6,214.1 6,237.6 6,263.3 6,302.0 6,328.2 6,345.7 6,379.0 6,442.8 6,431.7 5,877.6 5,918.8 5,947.6 5,970.8 6,033.9 6,058.0 6,073.4 6,105.9 6,122.1 6,163.0 6,179.5 6,228.3 5,679.4 5,719.2 5,745.5 5,767.8 5,829.8 5,850.9 5,864.1 5,895.3 5,909.4 5,947.9 5,962.8 6,010.5 177.1 178.5 180.9 181.1 182.2 185.2 186.4 187.6 189.7 191.7 193.4 194.4 21.1 21.1 21.1 21.8 21.8 21.8 22.9 22.9 22.9 23.3 23.3 23.3 256.9 243.9 245.7 243.3 203.7 205.4 228.6 222.3 223.6 215.9 263.3 203.4 5,986.2 6,011.0 6,041.8 6,049.9 6,065.5 6,093.1 6,119.5 6,137.8 6,153.4 6,175.2 6,235.3 6,216.5 22,770 22,860 22,957 23,015 23,084 23,159 23,281 23,356 23,399 23,501 23,719 23,663 January February March April May June July August September October November December 7,599.0 7,636.4 7,655.3 7,692.7 7,721.8 7,783.3 7,806.0 7,840.0 7,848.1 7,943.4 7,976.8 7,998.6 1,124.0 1,128.3 1,122.2 1,129.3 1,139.4 1,149.5 1,159.5 1,151.0 1,170.7 1,176.5 1,182.0 1,192.9 6,475.0 6,508.1 6,533.1 6,563.5 6,582.4 6,633.8 6,646.5 6,256.6 6,309.0 6,365.4 6,390.6 6,425.6 6,459.6 6,485.7 6,537.7 6,571.0 6,606.9 6,659.3 6,732.7 6,038.0 6,089.3 6,145.0 6,168.4 6,202.1 6,231.8 6,259.1 6,309.9 6,342.2 6,376.8 6,427.3 6,498.3 195.2 196.2 196.9 197.6 198.9 203.3 202.1 203.3 204.4 205.3 207.3 209.7 23.5 23.5 23.5 24.6 24.6 24.6 24.5 24.5 24.5 24.7 24.7 24.7 218.4 199.1 167.8 172.9 156.8 174.2 160.8 151.4 106.4 160.0 135.5 73.0 6,243.1 6,272.7 6,297.2 6,289.9 6,309.8 6,362.3 6,359.2 6,384.7 6,354.7 6,427.0 6,447.2 6,444.8 23,808 23,915 2000 January February 8,057.3 8,089.9 1,190.3 1,200.7 6,867.1 6,769.7 6,833.6 6,534.2 6,596.6 210.7 212.3 24.7 24.7 97.4 55.5 6,486.4 6,479.6 1995 1997 1998 1999 1995 January February March 1998 January February March April m June July August September... October November .... December.... 6,677.4 6,766.9 6,794.8 6,805.7 1. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures. 266,079 266,311 266,515 269,085 269,250 4.3 4.5 4.7 5.0 5.1 4.8 4.1 4.3 4.4 4.4 4.4 4.4 22,220 22,298 22,395 22,407 22,447 22,530 22,607 22,653 22,690 22,750 22,955 22,871 269,409 269,583 269,782 269,995 270,216 270,446 270,690 270,949 271,199 271,432 271,633 271,803 4.2 4.0 4.0 3.9 3.3 3.3 3.6 3.5 3.5 3.4 4.1 3.2 24,082 24,131 24,299 24,323 24,455 24,390 24,696 24,780 24,802 22,955 23,050 23,123 23,078 23,132 23,304 23,272 23,343 23,212 23,456 23,512 23,487 271,965 272,136 272,335 272,551 272,771 273,011 273,260 273,520 273,773 274,005 274,209 274,399 3.4 3.1 2.6 2.6 2.4 2.6 2.4 2.3 1.6 2.4 2.0 1.1 25,011 25,079 23,625 23,588 274,562 274,704 1.4 .8 267,032 267,236 267,450 267,668 267,894 268,139 268,402 268,657 56 • April 2000 SURVEY OF CURRENT BUSINESS Table 2.10.—Personal Consumption Expenditures by Major Type of Product Table 2.11.—Real Personal Consumption Expenditures by Major Type of Product [Billions of dollars; months seasonally adjusted at annual rates] [Billions of chained (1996) dollars; months seasonally adjusted at annual rates] Year and month Personal consumption expenditures 1995 1996 1997 Durable goods Nondurable goods Year and month Services Personal consumption expenditures Durable goods Nondurable goods Services 1999 4,969.0 5,237.5 5,524.4 5,848.6 6,257.3 589.7 616.5 642.9 698.2 758.6 1,497.3 1,574.1 1,641.7 1,708.9 1,843.1 2,882.0 3,047.0 3,239.8 3,441.5 3,655.6 1995 1996 1997 1998 1999 5,075.6 5,237.5 5,417.3 5,681.8 5,983.6 583.5 616.5 657.4 731.5 815.7 1,529.0 1,574.1 1,619.9 1,685.3 1,776.1 2,963.4 3,047.0 3,140.3 3,268.0 3,400.1 1995 January February March April May June July August September... October November.... December.... 4,864.7 4,853.7 4,887.5 4,897.3 4,945.4 4,988.3 4,974.4 5,026.0 5,015.3 5,018.4 5,059.3 5,097.6 587.2 565.6 581.6 569.5 585.4 598.4 587.7 608.4 592.6 591.3 597.8 610.8 1,485.0 1,468.0 1,474.5 1,482.7 1,493.9 1,500.0 1,494.8 1,502.2 1,510.9 1,506.0 1,518.3 1,531.3 2,792.5 2,820.1 2,831.4 2,845.0 2,866.1 2,890.0 2,891.9 2,915.4 2,911.8 2,921.1 2,943.1 2,955.5 1995 January February March April May June July August September ... October November.... December.... 5,018.0 4,995.2 5,021.5 5,018.8 5,060.7 5,099.3 5,076.2 5,118.1 5,103.3 5,095.6 5,135.3 5,165.6 579.7 558.0 573.6 561.0 578.5 592.7 582.1 602.5 587.3 586.4 594.3 606.3 1,524.0 1,505.9 1,513.0 1,516.9 1,526.7 1,532.3 1,525.1 1,531.0 1,539.1 1,531.3 1,546.2 1,556.5 2,914.2 2,932.4 2,935.3 2,941.9 2,955.9 2,974.3 2,969.4 2,984.5 2,977.1 2,978.1 2,995.0 3,002.8 5,090.9 5,141.8 5,158.8 5,207.7 5,223.1 5,223.2 5,239.9 5,268.2 5,282.8 5,314.8 5,332.9 5,365.9 598.8 612.9 607.6 624.5 626.6 612.7 610.9 621.0 618.2 623.9 620.7 619.9 1,527.4 1,541.8 1,549.6 1,567.4 1,571.0 1,569.7 1,572.4 1,577.1 1,587.0 1,601.5 1,607.8 1,616.0 2,964.8 2,987.0 3,001.5 3,015.8 3,025.5 3,040.8 3,056.6 3,070.2 3,077.7 3,089.4 3,104.4 3,129.9 1996 January February March April May June July August September... October November.... December.... 5,146.4 5,186.7 5,189.9 5,224.9 5,232.1 5,231.4 5,237.2 5,261.1 5,264.6 5,279.5 5,286.3 5,309.7 593.5 608.5 603.3 621.9 626.3 613.0 611.9 622.7 619.6 626.1 624.6 626.4 1,545.6 1,557.6 1,558.5 1,567.9 1,569.7 1,572.0 1,572.6 1,579.0 1,584.1 1,592.2 1,593.2 1,596.4 3,007.6 3,020.6 3,028.3 3,035.1 3,036.0 3,046.4 3,052.7 3,059.4 3,060.8 3,061.2 3,068.5 3,086.9 5,410.2 5,431.6 5,450.6 5,446.9 5,457.8 5,494.3 5,551.5 5,571.2 5,584.7 5,607.5 5,633.9 5,652.7 640.1 631.8 636.3 624.9 622.5 635.9 650.6 656.0 649.0 641.8 661.1 664.4 1,624.5 1,629.3 1,637.7 1,621.8 1,625.3 1,634.2 1,646.0 1,652.8 1,658.0 1,657.4 1,658.8 1,655.0 3,145.6 3,170.4 3,176.5 3,200.1 3,210.0 3,224.2 3,254.9 3,262.4 3,277.8 3,308.2 3,314.0 3,333.3 646.9 636.9 642.4 635.0 634.6 649.4 666.3 674.8 668.2 662.2 684.1 687.6 1,602.5 June July August September ... October November.... December.... 5,340.6 5,346.6 5,360.2 5,351.3 5,363.3 5,393.5 5,442.7 5,457.2 5,459.6 5,475.0 5,499.8 5,517.0 1,618.0 1,600.3 1,606.8 1,617.7 1,628.6 1,631.2 1,632.3 1,631.4 1,633.6 1,630.4 3,091.5 3,103.1 3,100.0 3,115.6 3,121.6 3,126.6 3,148.5 3,152.4 3,159.7 3,181.3 3,183.2 3,200.0 679.3 680.8 677.4 677.7 702.3 701.6 685.8 701.9 703.0 715.2 718.4 734.8 1,663.8 1,678.6 1,681.6 1,693.0 1,704.2 1,706.5 1,715.0 1,716.2 1,718.5 1,731.3 1,742.9 1,754.6 3,336.3 3,359.8 3,386.5 3,397.1 3,423.3 3,442.8 3,463.2 3,477.2 3,487.9 3,501.4 3,501.4 3,521.1 1998 January February March April May June July August September ... October November..., December..., 5,542.1 5,578.4 5,604.9 5,615.4 5,669.0 5,691.9 5,694.3 5,718.0 5,730.4 5,757.9 5,770.7 5,809.4 704.0 706.3 704.5 703.9 733.1 734.6 717.5 735.5 740.7 756.3 762.5 779.2 1,640.1 1,657.6 June July August September.., October November... December..., 5,679.4 5,719.2 5,745.5 5,767.8 5,829.8 5,850.9 5,864.1 5,895.3 5,909.4 5,947.9 5,962.8 6,010.5 1,675.8 1,682.7 1,687.2 1,693.2 1,690.2 1,692.6 1,701.5 1,714.7 1,721.6 3,199.9 3,216.5 3,235.2 3,237.4 3,256.4 3,273.1 3,285.1 3,295.0 3,300.0 3,304.3 3,298.6 3,314.8 1999 January February March April May June July August September.. October November.... December..., 6,038.0 6,089.3 6,145.0 6,168.4 6,202.1 6,231.8 6,259.1 6,309.9 6,342.2 6,376.8 6,427.3 6,498.3 721.4 741.9 753.8 745.0 752.0 757.8 753.1 765.7 766.6 767.0 784.9 794.4 1,771.2 1,790.6 1,801.6 1,818.3 1,826.3 1,829.8 1,836.4 1,854.9 1,870.4 1,883.5 1,895.9 1,938.0 3,545.4 3,556.8 3,589.6 3,605.1 3,623.8 3,644.1 3,669.5 3,689.2 3,705.1 3,726.3 3,746.5 3,765.9 1999 January February March April May June July August September.. October November... December... 5,821.7 5,869.1 5,923.0 5,911.4 5,945.2 5,976.7 5,988.6 6,022.9 6,035.7 6,056.5 6,098.5 6,153.7 766.7 791.1 808.6 796.6 806.4 815.3 810.8 826.0 826.9 828.9 849.3 862.0 1,732.3 1,752.8 1,763.6 1,755.4 1,765.1 1,770.5 1,771.9 1,782.6 1,783.3 1,792.4 1,805.8 1,837.8 3,327.7 3,332.6 3,359.3 3,366.4 3,381.4 3,399.1 3,413.2 3,423.1 3,434.1 3,443.8 3,454.3 3,466.0 2000 January February 6,534.2 6,596.6 813.8 826.1 1,922.1 1,949.8 3,798.3 3,820.7 2000 January February 6,172.0 6,204.4 884.2 899.1 1,820.2 1,830.3 3,482.1 3,491.3 1996 January February March May ZZZZ. June July August September... October November.... December.... 1997 January February March «z= June July August September... October November.... December.... 1998 January February March April fay 1997 January February March May .'.Z'.'.Z NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. April 2000 • SURVEY OF CURRENT BUSINESS 57 3. Government Current Receipts and Expenditures. Table 3.1.--Government Current Receipts and Expenditures [Billions of dollars] Seasonally adjusted at annual rates 1999 1995 1996 1997 2,117.1 2,269.1 2,440.5 2,611.8 2,786.0 2,372.3 2,414.1 2,468.6 2,507.1 2,544.8 2,586.8 2,635.3 2,680.2 2,716.6 2,754.4 2,800.5 2,872.6 778.3 211.0 594.6 533.2 869.7 223.6 620.0 555.8 968.3 238.3 645.8 588.2 1,072.6 240.2 677.0 621.9 1,152.1 259.4 716.3 658.2 934.2 228.9 632.5 576.6 954.4 233.2 643.0 583.4 978.6 246.8 652.0 591.2 1,006.0 244.1 655.4 601.5 1,031.2 239.9 663.5 610.3 1,058.0 241.1 670.1 617.6 1,088.3 244.3 676.6 626.1 1,113.0 235.6 697.8 633.8 1,124.8 248.0 696.6 647.2 1,139.4 254.4 706.7 653.8 1,160.4 259.4 718.3 662.3 1,183.8 275.7 743.7 669.4 2,293.7 2,384.5 2,461.8 2,523.1 2,619.6 2,433.8 2,453.6 2,465.6 2,494.2 2,488.0 2,512.4 2,525.9 2,566.3 2,570.3 2,598.7 2,617.8 2,691.7 1,133.9 1,171.8 1,222.9 1,261.0 1,332.2 1,203.8 1,220.7 1,228.6 1,238.5 1,236.6 1,260.1 1,265.2 1,282.1 1,299.4 1,313.7 1,341.5 1,374.3 Transfer payments (net) To persons To the rest of the world (net) 869.9 860.1 9.8 944.5 934.5 10.0 965.2 954.8 10.4 999.2 988.6 10.5 935.8 929.0 6.7 940.0 944.1 6.2 9.1 962.0 18.7 985.3 978.5 6.8 993.3 984.1 9.2 1,000.1 951.4 966.7 957.7 980.7 936.8 7.4 991.6 8.5 1,018.0 1,000.3 17.7 268.0 357.5 300.1 57.4 89.5 275.7 369.2 281.2 88.1 93.5 276.4 368.4 277.3 91.1 92.0 262.1 356.8 261.6 95.1 94.7 273.8 367.9 286.7 81.2 94.1 274.7 369.3 281.2 88.1 94.6 276.4 369.9 278.5 91.4 93.6 278.0 369.7 278.3 91.4 91.7 955.8 948.2 7.6 277.9 369.1 278.4 90.7 91.2 957.6 932.9 7.1 958.1 939.3 18.8 Net interest paid Interest paid To persons and business To the rest of the world Less: Interest received by government 916.0 902.4 13.6 274.4 366.6 299.0 67.6 92.2 277.9 370.1 278.3 91.8 92.2 277.4 368.8 277.7 91.1 91.4 272.5 365.6 274.8 90.8 93.2 265.0 358.1 267.4 90.7 93.1 264.1 358.6 266.0 92.6 94.5 259.2 354.3 257.7 96.6 95.1 260.1 356.0 255.4 100.6 95.9 22.2 22.6 19.0 20.8 26.5 20.9 18.5 16.8 19.9 18.0 17.1 16.9 31.4 21.0 27.9 17.3 39.7 33.2 11.1 33.7 11.1 32.3 13.3 35.6 14.8 43.8 17.3 32.8 12.0 32.4 13.9 32.1 15.3 32.0 31.9 13.9 31.9 14.7 32.3 15.4 46.4 15.0 38.0 16.9 44.9 17.0 34.6 17.3 57.5 17.9 Line Current receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Current expenditures Consumption expenditures 1999 1997 1998 Less: Dividends received by government Subsidies less current surplus of government enterprises. Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-), national income and product accounts. Social insurance funds Other Addenda: Net lending or net borrowing (-) Current surplus or deficit (-), national income and product accounts. Plus: Consumption of fixed capital Plus: Capital transfers received (net) Less: Gross investment Less: Net purchases of nonproduced assets .3 .3 0 0 12.1 0 0 0 0 -176.7 -115.4 -21.3 88.7 166.4 -61.5 -39.5 3.0 13.0 56.9 74.4 109.5 113.9 146.3 155.7 182.7 180.9 23.9 -200.6 19.4 -134.8 32.2 -53.5 57.3 31.4 77.7 88.7 23.0 -84.6 27.9 -67.4 34.1 -31.1 43.8 -30.8 47.6 9.2 54.9 19.5 59.6 49.9 67.0 46.9 72.7 73.6 76.4 79.3 79.7 103.0 81.9 99.0 -226.5 -176.7 -171.7 -115.4 -72.9 -21.3 34.4 88.7 92.5 166.4 -117.1 -61.5 -72.3 -39.5 -57.9 3.0 ^4.5 13.0 2.3 56.9 27.5 74.4 49.4 109.5 58.2 113.9 75.6 146.3 86.9 155.7 108.9 182.7 180.9 168.1 174.3 23.1 250.1 3.6 180.5 26.8 258.1 .9 186.2 32.6 268.7 4.3 196.0 178.2 25.6 252.1 7.3 179.9 26.6 257.9 -18.5 181.0 26.8 183.0 28.4 261.0 7.8 183.8 30.4 184.8 33.4 266.3 -1.2 186.9 189.1 34.8 272.6 7.0 192.0 35.1 194.5 197.2 34.5 295.7 9.9 200.5 40.3 313.7 9.5 19.6 238.2 0 0 0 36.9 297.8 9.1 0 0 261.5 7.2 262.4 6.4 0 31.6 273.5 5.1 0 0 289.8 8.0 0 37.9 292.2 8.9 0 0 5 8 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.2.—Federal Government Current Receipts and Expenditures [Billions of dollars] Seasonally adjusted at annual rates Line 1997 1995 1997 1998 1999 1998 I III IV 1,383.7 1,499.1 1,627.2 1,750.7 1,871.3 1,573.8 1,609.0 1,648.0 1,677.8 1,704.8 1,734.4 1,770.3 1,793.3 1,826.5 1,853.1 1,883.1 1,922.3 Personal tax and nontax receipts Income taxes Nontaxes 591.8 585.6 6.2 670.0 662.9 7.1 750.9 743.1 7.8 835.7 827.6 8.1 900.2 891.3 8.9 723.0 715.3 7.7 740.1 732.3 7.8 759.0 751.1 781.5 773.6 7.9 824.0 815.9 8.1 847.3 839.1 8.2 868.1 859.8 8.3 877.9 869.4 8.5 892.1 883.4 8.8 908.0 899.0 9.0 922.7 7.9 803.3 795.4 7.9 Corporate profits tax accruals Federal Reserve banks Other 179.3 23.4 155.9 190.6 20.1 170.5 204.2 20.7 183.5 206.5 26.6 179.9 222.4 24.7 197.7 196.2 20.0 176.2 199.9 20.4 179.5 211.5 20.9 190.6 209.3 21.4 187.9 206.2 26.4 179.8 207.2 26.4 180.8 209.9 26.7 183.2 202.6 26.7 175.9 212.6 23.5 189.1 218.1 23.7 194.4 222.4 24.6 197.9 236.7 27.1 209.6 93.0 57.8 19.8 15.3 95.1 55.7 19.2 20.2 94.9 58.9 19.6 16.4 97.3 62.9 19.6 14.8 101.5 67.0 20.0 14.5 54.0 19.0 16.4 96.7 60.0 20.3 16.4 97.2 60.6 19.9 16.7 96.2 60.9 19.3 16.0 95.8 61.0 19.4 15.4 96.4 61.9 19.4 15.0 97.7 63.1 19.9 14.7 99.6 65.7 19.6 14.3 99.5 66.3 19.0 14.1 100.0 66.9 18.8 14.2 101.5 66.9 20.5 14.2 105.0 68.1 21.5 15.5 Current receipts Indirect business tax and nontax accruals Excise taxes Customs duties Nontaxes 913.5 9.3 519.6 543.3 577.2 611.2 647.1 565.2 572.4 580.4 590.8 599.5 606.9 615.4 623.1 636.5 642.9 651.2 657.9 1,575.7 1,635.9 1,676.0 1,703.8 1,755.8 1,661.2 1,672.2 1,675.9 1,694.6 1,680.0 1,690.9 1,710.7 1,733.5 1,728.9 1,735.0 1,749.3 1,810.2 Consumption expenditures 439.2 445.3 457.0 453.5 474.8 452.7 461.6 458.1 455.6 445.1 457.4 451.4 467.0 465.2 475.0 491.9 Transfer payments (net) To persons 652.1 642.3 9.8 691.6 678.1 13.6 716.6 706.6 10.0 730.4 720.0 10.4 754.5 744.0 10.5 709.3 702.6 6.7 712.7 705.6 7.1 715.6 708.3 7.4 728.6 709.8 18.8 724.4 716.8 7.6 724.2 718.0 6.2 731.0 721.9 9.1 742.1 723.5 18.7 743.4 736.6 6.8 749.7 740.5 9.2 754.8 746.4 8.5 770.1 752.4 17.7 Contributions for social insurance Current expenditures To the rest of the world (net) Grants-in-aid to State and local governments Net interest paid Interest paid To persons and business To the rest of the world Less: Interest received by government Subsidies less current surplus of government enterprises. Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-), national income and product accounts. Social insurance funds Other Addenda: Net lending or net borrowing (-) Current surplus or deficit (-), national income and product accounts. Plus: Consumption of fixed capital Plus: Capital transfers received (net) Less: Gross investment Less: Net purchases of nonproduced assets 184.5 190.4 195.7 209.3 225.5 192.8 192.2 195.9 201.7 202.1 200.8 220.2 214.2 219.9 215.7 230.6 235.6 267.5 289.6 232.3 57.4 22.1 273.6 296.2 228.5 67.6 22.6 276.3 298.6 210.5 88.1 22.3 278.4 297.7 206.6 91.1 19.3 262.8 285.4 190.3 95.1 22.6 273.6 297.2 216.0 81.2 23.6 275.2 298.7 210.5 88.1 23.5 277.1 299.3 207.9 91.4 22.2 279.4 299.1 207.7 91.4 19.7 279.8 298.5 207.8 90.7 18.8 280.0 299.5 207.6 91.8 19.4 279.6 298.1 207.0 91.1 18.5 274.3 294.8 204.0 90.8 20.5 266.0 287.1 196.4 90.7 21.1 264.8 287.4 194.8 92.6 22.6 259.9 282.9 186.3 96.6 23.0 260.6 284.2 183.6 100.6 23.6 32.4 35.1 30.4 32.1 38.3 32.7 30.5 29.1 29.2 28.6 28.4 28.5 42.9 32.6 39.5 29.0 51.8 32.9 33.4 31.9 1.5 35.1 3.0 43.3 5.0 32.4 -.3 32.0 1.5 31.7 2.5 31.5 2.3 31.4 2.8 31.4 3.0 31.8 3.3 45.9 3.0 37.5 4.8 44.4 4.9 34.1 5.1 57.0 5.2 -1.7 0 -192.0 0 -136.8 0 0 0 0 0 0 0 -48.8 46.9 115.4 -87.4 -63.2 -27.9 -16.8 24.9 43.5 59.6 59.7 97.6 118.1 133.8 112.2 0 0 0 0 0 0 0 0 19.9 -211.9 16.7 -153.5 31.0 -79.9 56.4 -9.4 76.9 38.5 21.5 -108.9 26.7 -89.9 33.1 -61.0 42.9 -59.7 46.7 -21.8 53.9 -10.4 58.6 1.0 66.3 -6.6 72.2 25.4 75.6 42.5 78.9 54.9 31.3 -195.7 -192.0 -144.7 -136.8 ^3.8 -W.8 51.1 46.9 106.3 115.4 -S7.1 -87.4 ^0.0 -63.2 -31.7 -27.9 -16.5 -16.8 30.0 24.9 55.3 43.5 58.3 59.6 60.8 59.7 96.2 97.6 108.3 118.1 120.4 133.8 100.1 112.2 84.0 -12.8 82.3 -7.4 85.3 -10.7 86.3 -3.8 86.6 -8.4 80.8 -7.6 87.4 90.9 -5.0 95.8 -.8 86.1 -9.2 77.4 -.8 87.0 -4.1 81.0 -1.5 87.5 -5.5 88.3 -5.0 88.1 -<3.4 86.7 90.2 •4.8 96.4 91.2 -9.2 82.8 -1.5 87.1 -6.7 81.5 -1.3 87.0 -8.7 81.4 -26.9 -9.7 92.4 -2.9 101.7 -.2 85.2 -5.6 84.8 -11.1 -2.7 90.4 -2.1 -1.1 94.9 0 April 2000 • SURVEY OF CURRENT BUSINESS 59 Table 3.3.—State and Local Government Current Receipts and Expenditures [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1,009.0 1,070.4 1,140.2 991.3 997.4 1,016.5 1,031.1 1,042.1 1,053.2 1,085.3 1,101.1 1,110.0 1,117.0 1,148.0 1,185.9 217.4 168.0 31.3 18.2 236.9 184.7 33.2 19.0 251.9 196.8 35.3 19.7 211.2 162.8 30.5 17.9 214.3 165.2 31.0 18.1 219.6 169.8 31.5 18.3 224.5 174.0 32.0 18.5 227.8 176.6 32.5 18.7 234.0 182.1 32.9 18.9 241.0 188.4 33.5 19.1 244.9 191.6 34.0 19.3 246.9 192.9 34.5 19.5 247.3 192.5 35.1 19.7 252.4 197.0 35.6 19.8 261.1 204.9 36.2 20.0 1998 IV Current receipts Personal tax and nontax receipts Income taxes Nontaxes Other Corporate profits tax accruals Indirect business tax and nontax accruals Sales taxes Property taxes Other Contributions for social insurance Federal grants-in-aid 917.9 186.5 142.5 27.1 17.0 199.6 152.9 29.2 17.5 31.7 33.0 34.0 33.8 37.0 32.7 33.3 35.3 34.8 33.7 33.9 34.4 33.1 35.4 36.4 37.0 39.1 501.6 243.6 203.5 54.5 524.9 255.6 211.4 58.0 550.9 269.3 218.7 62.9 579.6 284.3 225.5 614.8 307.2 234.5 73.2 543.1 266.3 216.1 60.8 546.4 266.2 217.9 62.3 554.8 270.1 219.6 65.1 559.3 274.6 221.3 63.3 567.7 278.3 223.9 65.5 573.8 282.8 225.6 65.4 579.0 284.8 226.4 67.7 598.2 291.1 226.3 597.1 298.5 229.5 69.1 606.8 303.7 232.8 70.3 616.8 309.5 236.1 71.2 638.6 317.0 239.4 82.3 13.6 12.5 11.0 10.7 11.1 11.4 11.1 10.8 10.7 10.8 10.7 10.7 10.7 10.7 10.9 11.2 11.5 184.5 190.4 195.7 209.3 225.5 192.8 192.2 195.9 201.7 202.1 200.8 220.2 214.2 219.9 215.7 230.6 235.6 981.5 1,028.7 1,089.2 1,001.3 1,010.1 1,022.3 1,035.4 1,046.9 1,061.2 1,079.4 1,099.1 1,117.1 Consumption expenditures 694.7 726.5 765.9 807.5 857.4 751.0 759.1 770.5 782.8 791.5 802.7 813.8 822.2 832.4 848.4 866.5 882.4 Transfer payments to persons 217.8 224.3 227.9 234.8 244.7 226.5 227.3 228.5 229.5 231.4 233.4 235.7 238.5 241.9 243.6 245.3 247.8 .5 67.8 67.3 .9 70.4 69.5 -.6 70.6 71.2 -2.0 70.7 72.7 -.7 71.3 72.1 .2 70.7 70.5 -.5 70.6 71.1 -.8 70.6 71.4 -1.3 70.6 71.9 -1.8 70.6 72.4 -2.2 70.6 72.8 -2.2 70.7 72.9 -1.8 70.8 72.7 -1.0 71.0 72.0 -.7 71.2 71.9 -.6 71.5 72.1 -.6 71.8 72.3 Current expenditures Net interest paid Interest paid Less: Interest received by government Less: Dividends received by government Subsidies less current surplus of government enterprises. Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-), national income and product accounts. Social insurance funds Other Addenda: Net lending or net borrowing (-) Current surplus or deficit (-), national income and product accounts. Plus: Consumption of fixed capital Plus: Capital transfers received (net) Less: Gross investment Less: Net purchases of nonproduced assets 902.5 973.7 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 -10.2 -12.5 -11.4 -11.3 -11.8 -11.9 -11.9 -12.3 -0.3 -10.6 -11.3 -11.6 -11.6 -11.6 -11.6 -11.7 -12.2 .3 10.5 .3 12.8 .4 11.8 .5 11.7 .5 12.3 .4 12.3 .4 12.3 .4 12.8 .4 9.8 .5 11.1 .5 11.7 .5 12.0 .5 .5 12.1 .5 12.1 .5 12.2 .5 12.7 0 0 0 0 0 0 0 0 0 0 0 0 15.3 21.4 27.5 41.7 51.0 25.9 23.7 30.9 29.7 32.0 30.9 49.9 4.0 11.4 2.7 18.7 1.2 26.4 .9 40.8 .8 50.2 1.5 24.3 1.2 22.4 1.0 29.9 .9 28.9 .9 31.1 1.0 29.9 .9 48.9 -30.9 -27.0 21.4 -29.1 27.5 -16.8 41.7 -13.8 51.0 -30.0 25.9 -32.3 23.7 -26.2 30.9 -27.9 29.7 -57.7 32.0 -27.8 30.9 105.2 42.0 202.0 92.0 34.8 174.6 8.0 93.5 35.3 176.4 8.4 94.4 35.9 178.7 95.9 35.1 179.5 9.1 34.5 181.4 97.8 34.9 181.5 9.6 9.9 15.3 84.1 32.3 155.8 88.9 33.8 94.0 35.3 163.8 7.4 177.3 8.6 36.2 183.5 9.9 9.9 12.1 0 0 0 48.7 37.6 46.9 .7 53.4 48.2 36.8 .8 48.1 1.0 67.7 -S.9 49.9 -2.6 54.2 -20.6 48.7 -21.4 37.6 -11.6 48.9 -1.5 68.8 99.4 37.1 185.2 10.1 101.1 38.2 185.9 10.2 102.4 37.8 104.3 42.6 199.4 10.1 195.8 10.0 106.0 44.2 200.8 9.8 108.1 43.2 212.0 0 54.2 9.6 60 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.4.—Personal Tax and Nontax Receipts Table 3.6.—Contributions for Social Insurance [Billions of dollars] [Billions of dollars] Line Income taxes Withheld Declarations and settlements Less: Refunds 1996 1997 1998 1 778.3 869.7 968.3 1,072.6 2 591.8 670.0 750.9 835.7 3 4 5 6 585.6 501.6 169.9 85.9 662.9 548.6 203.6 89.3 743.1 595.1 241.8 93.8 827.6 652.0 275.6 100.0 Personal tax and nontax receipts Federal 1995 Nontaxes2 7 6.2 7.1 7.8 8.1 State and local 8 186.5 199.6 217.4 236.9 Income taxes Motor vehicle licenses Property taxes Other taxes3 9 10 11 12 142.5 10.3 4.2 2.5 152.9 10.5 4.4 2.6 168.0 10.9 4.6 2.7 184.7 11.5 4.7 2.9 Nontaxes Fines Other 4 13 14 15 27.1 8.4 18.7 29.2 8.6 20.6 31.3 9.2 22.1 33.2 9.9 23.3 1. Excludes estate and gift taxes, which are classified in the NIPA's as capital transfers. 2. Consists of fines, immigration fees, certain penalty taxes, and excise taxes paid by nonprofit institutions serving individuals. 3. Consists largely of hunting, fishing, and other personal licenses. 4. Consists largely of donations and unclaimed bank deposits. Table 3.5.—Indirect Business Tax and Nontax Accruals [Billions of dollars] Line Indirect business tax and nontax accruals 1995 1996 1997 594.6 620.0 645.8 677.0 93.0 95.1 94.9 97.3 Excise taxes Gasoline Alcoholic beverages Tobacco Diesel fuel Air transport Crude oil windfall profits tax Other 1 57.8 21.2 7.4 5.9 6.6 5.7 55.7 22.3 7.4 5.8 7.8 2.5 58.9 23.1 7.4 5.8 7.4 6.5 62.9 23.4 7.4 6.2 7.7 8.3 11.2 9.9 8.7 9.9 Customs duties 19.8 19.2 19.6 19.6 Nontaxes Outer Continental Shelf royalties Deposit insurance premiums Other 2 .„ 15.3 2.7 4.4 8.2 20.2 4.2 7.2 8.8 16.4 4.7 2.0 9.7 14.8 3.2 1.9 9.7 State and local 501.6 524.9 550.9 579.6 Sales taxes 243.6 201.5 135.8 25.7 3.6 7.3 8.3 8.8 11.8 42.1 29.2 7.2 5.7 255.6 210.9 143.2 26.6 3.7 7.4 8.6 9.1 12.3 44.6 31.0 7.6 6.0 269.3 221.8 151.7 27.7 3.7 7.6 8.7 9.2 13.1 47.5 33.1 8.1 6.4 284.3 233.6 161.0 28.9 3.8 7.8 8.9 9.3 14.0 50.7 35.4 8.6 6.8 203.5 4.5 4.3 24.5 211.4 4.6 4.5 25.8 218.7 4.8 4.5 27.6 225.5 5.0 4.1 29.8 21.2 4.5 3.1 4.7 8.9 23.1 4.5 3.2 5.5 26.0 4.8 3.3 6.1 11.7 30.9 5.2 3.4 Federal State General Gasoline Alcoholic beverages Tobacco Public utilities Insurance receipts Other Local General Public utilities Other Property taxes Motor vehicle licenses Severance taxes Other taxes 3 Nontaxes Rents and royalties Special assessments Fines Other 4 ". 15.7 1. Consists largely of taxes on telephone services, tires, coal, nuclear fuel, and trucks, and of refunds other than those for alcoholic beverages and tobacco. 2. Consists largely of fines, fees, and royalties other than those associated with the Outer Continental Shelf. 3. Consists largely of business licenses and of documentary and stamp taxes. 4. Consists largely of donations. Beginning with 1997, includes settlements of lawsuits with tobacco companies. Line Contributions for social insurance Employer contributions Federal social insurance funds Old-age, survivors, disability, and hospital insurance Old-age, survivors, and disability insurance Hospital insurance Unemployment insurance State unemployment insurance Federal unemployment tax Railroad employees unemployment insurance Federal employees unemployment insurance Railroad retirement Pension benefit guaranty Veterans life insurance Workers'compensation Military medical insurance1 State and local social insurance funds Temporary disability insurance Workers' compensation 1995 555.8 588.2 621.9 264.5 275.4 290.1 306.0 253.4 265.2 280.7 297.0 217.5 170.1 47.3 229.5 179.3 50.2 245.8 191.9 53.9 262.6 204.9 57.7 29.3 22.9 5.8 0 .7 28.8 22.2 5.9 0 28.1 21.4 6.2 0 .5 27.4 20.5 6.3 .1 .5 2.5 .9 0 2.7 1.0 0 1.9 1.3 2.6 1.2 0 1.9 1.2 1.9 1.2 2.8 1.0 0 2.0 1.1 11.0 10.2 9.4 9.0 0 11.0 0 10.2 0 9.4 0 9.0 280.4 298.1 315.9 278.2 257.4 229.8 178.4 51.4 27.7 18.6 .1 296.5 275.2 246.1 190.9 55.2 29.1 19.2 0 314.2 292.8 261.8 202.8 1.3 1.3 .8 1.3 .8 19.3 0 1.4 .7 2.6 2.2 1.6 1.8 Personal contributions Federal social insurance funds Old-age, survivors, disability, and hospital insurance Employees Old-age, survivors, and disability insurance Hospital insurance Self-employed Supplementary medical insurance State unemployment insurance Railroad retirement Veterans life insurance State and local social insurance funds 2 1997 533.2 266.2 244.4 217.7 169.4 48.3 26.7 19.6 .2 59.0 30.9 1. Consists of payments for medical services for dependents of active duty military personnel at nonmilitary facilities. 2. Consists of contributions for temporary disability insurance. April 2000 • SURVEY OF CURRENT BUSINESS 61 Table 3.7.—Government Consumption Expenditures and Gross Investment by Type [Billions of dollars] Line 1995 1996 1997 1998 1999 1997 1998 I Government consumption expenditures and gross investment'. 1,372.0 1,421.9 1,481.0 1,529.7 1,630.1 II 1,455.8 1,478.6 1,490.1 1,499.5 1,499.0 1,526.5 1,538.7 1,554.8 1,589.1 1,605.9 1,637.2 521.5 531.6 537.8 538.7 570.6 530.2 543.0 540.9 537.1 526.1 542.2 539.7 546.7 557.4 561.6 569.8 593.6 National defense Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 350.6 297.5 21.0 6.3 270.2 130.4 357.0 302.4 21.0 7.7 273.7 133.1 352.5 304.5 20.7 7.5, 276.3 132.0 348.6 299.9 21.0 7.0 271.9 131.0 364.5 310.7 21.4 8.0 281.2 133.0 347.0 301.7 20.7 8.0 273.0 133.5 354.9 308.2 21.9 7.1 279.1 132.3 354.5 305.0 19.6 7.4 278.0 131.8 353.6 347.9 301.2 20.6 6.7 273.9 130.7 354.7 302.5 21.8 7.6 273.1 131.1 352.9 303.4 21.4 6.9 275.1 129.9 355.8 304.6 20.4 6.4 277.8 133.2 354.3 300.8 21.1 7.4 272.3 132.9 365.4 303.0 20.7 7.4 274.9 130.6 338.9 292.4 20.1 6.8 265.6 132.1 382.6 325.5 22.0 8.6 294.9 132.6 63.0 63.0 62.7 61.6 62.5 62.9 62.7 62.5 62.5 62.0 61.5 61.5 61.5 62.2 62.3 62.7 62.9 76.8 53.1 6.3 46.9 77.7 54.6 6.7 47.9 81.6 48.0 5.7 42.3 79.3 48.7 5.4 43.3 85.7 53.8 5.3 48.5 76.7 45.3 5.9 39.4 84.1 46.8 5.6 41.2 83.7 49.5 5.7 43.8 81.7 50.6 5.7 44.9 71.5 46.5 5.6 40.9 81.6 46.8 5.0 41.7 80.4 52.2 5.9 46.3 83.6 49.5 5.1 44.4 82.4 51.2 5.4 45.8 77.1 53.5 5.3 48.2 83.9 53.4 5.2 48.2 99.4 57.1 5.3 51.9 Nondefense Consumption expenditures Durable goods 2 Nondurable goods Commodity Credit Corporation inventory change. Other nondurables Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 170.9 141.8 174.6 194.3 156.3 1.3 8.3 0 185.0 201.6 162.4 1.3 9.5 1.1 207.3 164.4 1.4 204.4 162.9 8.4 .3 193.8 156.5 1.2 8.6 .4 211.1 166.5 1.3 10.2 1.2 8.2 146.6 81.3 8.1 145.3 82.1 8.2 146.8 84.2 8.4 151.7 88.3 Federal State and local Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software Addenda: Compensation of general government employees3. Federal State and local .9 6.5 -.2 142.9 1.1 6.1 -.4 185.3 152.5 1.2 8.1 -.1 190.1 153.6 -.2 8.4 .1 206.1 164.1 1.3 9.8 1.1 183.2 151.0 1.2 7.5 -.1 188.1 153.4 1.4 7.9 -.2 186.4 153.1 1.1 8.1 -.2 183.5 152.6 1.0 8.7 .1 187.2 152.6 1.3 8.1 -.1 6.8 134.3 75.0 6.5 135.7 76.4 8.1 143.3 78.2 8.2 145.5 81.9 152.9 87.9 7.6 142.3 78.3 8.1 144.1 78.6 8.3 144.0 78.2 8.5 142.9 77.6 8.2 143.3 79.9 1.1 10.1 1.1 153.4 87.6 8.9 151.7 87.3 9.0 155.0 16.8 18.0 19.3 20.9 23.0 18.8 19.2 19.5 19.9 20.3 20.7 21.1 21.5 22.3 22.7 23.2 24.0 42.5 29.2 10.8 18.4 41.3 31.7 11.1 20.5 45.8 32.8 9.7 23.0 42.7 36.5 11.3 25.2 42.0 42.0 11.3 30.7 45.2 32.2 10.2 21.9 46.3 34.7 9.9 24.7 46.2 33.3 10.4 22.8 45.4 30.9 8.4 22.5 43.1 34.5 10.8 23.7 44.7 38.0 10.9 27.1 42.2 36.1 11.7 24.4 41.0 37.2 11.6 25.7 41.1 39.2 11.7 27.4 43.2 42.9 10.8 32.1 41.2 41.5 11.4 30.1 42.4 44.6 11.5 33.1 850.5 694.7 12.7 72.9 609.0 523.1 890.4 726.5 13.1 79.9 633.6 542.3 943.2 991.0 807.5 15.2 86.3 706.1 1,059.4 857.4 16.2 95.3 746.0 621.9 925.6 751.0 13.6 83.9 653.5 556.0 935.6 759.1 13.9 83.2 662.1 561.7 949.2 770.5 14.2 84.4 671.9 568.8 962.3 782.8 14.5 86.1 682.3 575.2 972.9 791.5 14.8 85.3 691.5 582.1 984.2 802.7 15.0 86.3 701.3 589.3 999.0 813.8 15.3 86.8 711.6 596.4 1,008.1 822.2 15.5 86.7 719.9 602.6 1,031.8 832.4 15.8 87.7 728.8 1,044.3 848.4 16.0 93.1 739.3 616.9 1,067.4 765.9 14.0 84.4 667.5 565.4 866.5 16.3 98.5 751.7 626.4 1,094.4 882.4 16.7 101.8 764.0 634.5 64.4 68.2 72.2 76.0 81.2 70.7 71.8 72.6 73.8 74.4 75.3 76.6 77.8 78.9 80.5 81.9 83.6 21.5 155.8 117.3 38.6 23.0 163.8 122.5 29.8 177.3 132.8 44.5 37.5 183.5 135.2 48.3 42.8 202.0 149.7 52.3 26.8 174.6 131.3 43.3 28.6 176.4 132.3 44.1 30.5 178.7 133.7 34.9 181.4 134.6 46.8 36.8 181.5 133.7 47.8 38.6 185.2 136.5 48.8 39.5 185.9 136.1 44.9 33.3 179.5 133.9 45.6 49.8 40.2 199.4 148.9 50.5 41.9 195.8 144.4 51.5 43.4 200.8 147.8 53.0 45.9 212.0 157.6 54.4 791.4 802.2 809.5 818.2 825.3 840.5 846.5 856.4 865.2 211.5 575.2 209.6 581.7 213.4 588.7 213.5 596.0 214.9 603.3 215.7 609.5 223.3 617.2 222.2 624.2 222.4 634.0 222.8 642.5 41.3 735.8 759.4 783.6 813.8 852.2 775.6 780.5 206.9 528.9 211.0 548.4 211.7 571.8 214.4 599.4 222.7 629.5 213.3 562.3 212.4 568.0 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures. 2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries by the Federal Government. 3. Compensation of government employees engaged in new own-account investment and related expenditures 149.0 ^.8 312.1 22.4 9.8 279.9 133.3 for goods and services are classified as investment in structures and in software. The compensation of all general government employees is shown in the addenda. 4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial measure of the value of the services of general government fixed assets; use of depreciation assumes a zero net return on these assets. 62 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.8.—Real Government Consumption Expenditures and Gross Investment by Type [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1999 I Government consumption expenditures and gross investment1. 1,406.4 1,421.9 1,453.7 1,478.8 1,534.1 1,436.0 1,455.8 1,461.8 1,461.4 1,457.6 1,479.1 1,483.9 1,494.7 1,513.4 1,518.3 1,535.3 1,569.6 536.5 531.6 530.7 525.9 540.8 523.8 536.2 534.4 528.6 515.2 529.8 526.8 531.9 531.2 534.1 539.5 558.3 National defense Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 361.9 308.7 21.1 6.9 280.7 139.0 357.0 302.4 21.0 7.7 273.7 133.1 348.3 299.4 20.8 7.7 271.0 128.3 341.7 291.4 21.2 8.1 262.3 124.3 347.8 293.3 21.7 8.8 263.1 121.0 342.9 296.9 20.7 7.8 268.5 129.8 350.8 350.7 300.3 19.7 7.8 272.8 128.2 348.6 297.1 21.0 7.7 268.4 126.6 332.7 285.0 20.2 7.6 257.2 125.7 341.6 293.4 20.8 7.6 265.0 124.4 347.5 293.6 22.0 8.9 263.0 124.3 344.9 293.6 21.6 8.1 263.9 122.6 341.4 339.2 289.5 20.6 7.7 261.2 121.5 284.9 21.3 8.5 255.4 121.0 348.3 294.0 22.7 10.4 261.5 121.2 362.4 304.9 22.2 8.6 274.3 120.3 63.4 63.0 62.6 62.2 62.2 62.8 62.7 62.5 62.4 62.3 62.2 62.1 62.1 62.1 62.1 62.2 62.3 78.5 53.2 6.5 46.8 77.7 54.6 6.7 47.9 80.0 48.7 5.5 43.2 75.9 50.3 5.1 45.3 80.1 54.7 4.8 50.1 75.8 45.8 5.7 40.1 82.8 47.3 5.4 41.9 82.0 50.3 5.5 44.8 79.5 51.5 5.5 46.1 69.3 47.7 5.4 42.4 78.5 48.1 4.8 43.4 76.6 54.0 5.5 48.6 79.3 51.4 4.8 46.8 77.8 52.1 5.0 47.2 72.4 54.6 4.9 49.9 78.2 54.5 4.7 50.0 91.8 57.8 4.7 53.3 Nondefense Consumption expenditures Durable goods 2 Nondurable goods Commodity Credit Corporation inventory change. Other nondurables Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 174.6 145.7 .8 182.5 149.4 1.3 8.0 -.1 184.2 147.1 -.1 8.4 .1 192.9 151.0 1.5 10.9 2.4 180.9 148.5 1.3 7.6 -.1 185.3 150.4 1.5 7.8 -.3 183.6 150.0 1.2 8.0 -.3 180.0 148.6 1.2 8.7 .2 182.4 147.4 1.4 8.0 -.3 188.1 149.5 1.5 8.3 0 179.4 142.7 ^.5 8.5 .3 186.9 189.7 150.6 1.5 10.4 2.0 194.7 6.4 -.4 174.6 142.9 1.1 6.1 -.4 151.9 1.7 10.6 2.0 191.1 149.7 1.4 11.4 2.7 195.9 152.0 1.5 11.3 2.7 6.8 138.5 78.5 6.5 135.7 76.4 8.2 140.1 75.9 8.3 138.9 76.8 8.6 140.0 77.3 7.7 139.7 76.3 8.1 141.1 76.6 8.3 140.8 76.1 8.5 139.0 74.8 8.3 138.0 75.8 8.3 139.9 76.6 8.1 138.6 76.7 8.3 139.2 78.1 8.4 139.7 78.2 8.6 140.9 77.2 138.6 76.4 8.6 140.8 77.3 Federal State and local Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software Residual Addenda: Compensation of general government employees3. Federal State and local 16.7 18.0 19.5 21.3 23.2 18.9 19.3 19.7 20.1 20.6 21.0 21.5 22.0 22.5 22.9 23.4 24.0 41.3 31.7 11.1 20.5 44.7 33.1 9.4 23.7 41.0 37.2 10.6 26.7 39.8 42.2 10.4 32.2 44.5 32.4 10.0 22.4 45.3 35.0 9.7 25.4 45.0 33.7 10.1 23.6 44.1 31.3 8.0 23.5 41.7 35.1 10.3 24.9 42.3 38.8 10.3 28.7 40.5 36.9 11.0 25.9 39.3 38.1 10.8 27.5 39.2 39.4 10.9 28.6 41.0 43.2 9.9 33.7 39.1 41.9 10.4 31.8 39.8 44.5 10.4 34.5 869.9 890.4 952.7 773.9 15.3 91.4 667.6 557.6 993.1 800.0 16.4 97.3 687.0 568.4 912.2 739.5 13.7 82.8 643.0 547.5 919.6 746.1 14.0 84.2 647.9 550.2 927.3 751.7 14.3 85.7 651.9 551.6 942.2 949.1 956.9 726.5 13.1 79.9 633.6 542.3 923.0 748.7 14.1 85.0 649.6 550.5 932.7 711.3 12.7 75.6 623.1 536.5 757.3 14.5 87.3 655.5 552.7 764.8 14.9 89.1 661.0 554.7 771.5 15.2 90.7 665.9 557.0 776.6 15.4 92.1 669.4 558.1 962.6 782.7 15.7 93.5 674.0 560.6 981.8 789.3 16.0 95.0 678.9 563.5 796.2 16.2 96.5 684.1 566.6 995.5 803.8 16.5 98.1 690.0 570.5 1,011.1 810.7 16.8 99.6 695.0 573.1 65.3 68.2 71.4 75.0 79.0 70.2 71.0 71.8 72.7 73.6 74.5 75.4 76.4 77.4 78.4 79.5 80.6 21.3 158.6 120.9 37.8 23.0 163.8 122.5 41.3 27.5 174.3 128.4 45.9 34.7 178.8 127.5 25.3 172.7 128.6 28.3 175.6 129.1 46.6 29.9 175.4 127.8 47.8 49.6 34.2 177.6 126.9 51.1 35.6 180.3 128.3 52.5 36.7 179.9 126.6 54.0 37.8 192.7 137.8 55.2 38.9 187.8 132.1 56.6 39.8 191.7 134.1 44.1 26.6 173.5 128.3 45.3 32.3 177.4 128.1 51.8 39.4 193.2 136.4 57.6 58.6 41.3 200.7 141.5 60.0 .2 -1.3 -4.5 .1 -.1 -.5 -.3 -.9 -1.0 -1.9 -5.5 -4.1 -5.0 -5.3 761.3 759.4 762.4 219.0 542.4 211.0 548.4 205.7 556.7 202.6 564.0 775.1 761.3 763.0 763.7 761.7 763.9 765.8 767.2 769.4 771.6 773.1 776.6 779.2 199.8 575.4 207.6 553.7 206.6 556.4 205.8 557.8 202.7 559.0 202.9 561.0 202.5 563.3 202.6 564.6 202.3 567.1 201.2 570.4 199.8 573.3 199.2 577.4 199.0 580.3 NOTE.-Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda. 149.0 1.3 43.3 29.0 11.1 17.9 -.6 39 303.4 21.9 7.4 274.1 128.6 See footnotes to table 3.7. Chain-type quantity indexes for the series in this table are shown in table 7.11. Contributions to percent change in real government consumption expenditures and gross investment are shown in table 8.6. April 2000 • 63 SURVEY OF CURRENT BUSINESS Table 3.9.—Government Consumption Expenditures Gross and Net of Sales by Type [Billions of dollars] Line Government consumption expenditures Federal National defense Durable goods' Gross consumption expenditures Less: Sales Nondurable goods Gross consumption expenditures Less: Sales Services Gross consumption expenditures Less: Sales Nondefense Durable goods ! Gross consumption expenditures Less: Sales Nondurable goods Commodity Credit Corporation inventory change Gross consumption expenditures Less: Sales Other .... Gross consumption expenditures Less: Sales Services Gross consumption expenditures Less: Sales State and local Durable goods ] Gross consumption expenditures Less: Sales Nondurable goods Gross consumption expenditures Less: Sales Services Gross consumption expenditures Less: Sales Tuition and related educational charges Health and hospital charges Other sales 1995 1996 1997 1998 1,133.9 1,171.8 1,222.9 1,261.0 439.2 445.3 457.0 453.5 297.5 302.4 21.0 304.5 20.7 20.8 .1 7.5 7.5 0 299.9 21.0 21.1 .1 6.3 6.3 0 270.2 21.0 271.8 1.6 .1 7.7 7.7 0 273.7 275.6 1.8 141.8 .9 1.6 .7 6.5 -.2 .3 .6 6.8 7.4 .6 134.3 137.4 3.0 142.9 1.1 1.8 .7 6.T -.4 .2 .5 6.5 7.6 1.1 135.7 138.4 2.7 694.7 12.7 13.8 1.1 72.9 83.9 11.0 609.0 761.9 152.9 31.3 84.9 36.7 1.3 21.0 21.0 .1 7.0 7.0 0 271.9 273.0 1.2 152.5 1.2 1.8 .7 8.1 -.1 .2 .3 8.1 8.7 .6 153.6 -.2 1.7 2.0 8.4 .1 .4 .3 8.2 8.3 .1 143.3 145.2 145.5 147.4 276.3 277.6 1.9 1.9 726.5 765.9 807.5 13.1 14.2 1.1 79.9 91.3 11.4 633.6 796.2 162.6 33.2 89.1 40.3 14.0 15.2 1.1 84.4 96.4 12.0 667.5 841.1 173.6 35.4 94.4 43.8 15.2 16.4 1.2 86.3 98.8 12.5 706.1 891.0 184.9 37.5 100.2 47.2 1. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries by the Federal Government. 64 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.10.—National Defense Consumption Expenditures and Gross Investment [Billions of dollars] Seasonally adjusted at annual rates Line National defense consumption expenditures and gross investment'. Consumption expenditures ... Durable goods 2 Aircraft Missiles Ships Vehicles Electronics Other durable goods Nondurable goods Petroleum products Ammunition Other nondurable goods. Services Compensation of general government employees, except own-account investment3. Military Civilian Consumption of general government fixed capital 4 . Other services Research and development Installation support Personnel support Transportation of material Travel of persons Other Gross investment Structures Equipment and software Aircraft Missiles Ships Z"'Z Vehicles Electronics and software Other equipment Addendum: Compensation of general government employees3. 1995 1997 1996 1998 1999 1998 350.6 357.0 352.5 348.6 364.5 347.0 354.9 354.5 353.6 338.9 347.9 354.7 352.9 355.8 354.3 365.4 382.6 297.5 302.4 304.5 299.9 310.7 301.7 308.2 305.0 303.0 292.4 301.2 302.5 303.4 304.6 300.8 312.1 325.5 21.0 9.0 2.8 1.2 1.1 2.5 4.5 21.0 21.0 21.4 10.1 2.2 .7 .8 2.8 21.9 10.3 2.5 .7 1.1 2.7 4.6 19.6 8.7 2.3 .7 1.0 2.7 4.2 20.7 9.7 2.4 .6 1.0 2.4 4.7 20.1 9.4 2.2 .7 .9 2.6 4.4 21.8 9.8 3.0 .9 2.4 4.6 2.5 4.9 21.4 11.0 2.1 .6 .9 2.4 4.4 20.4 9.6 2.2 .6 .7 2.5 4.7 21.1 4.9 20.7 9.7 2.2 .7 1.1 2.6 4.3 20.6 .9 2.5 5.0 20.7 9.6 2.4 .7 1.0 2.6 4.5 2.1 .8 .8 2.8 4.9 22.4 10.4 2.3 .7 .8 3.0 5.0 22.0 10.5 2.3 .6 .8 2.8 4.9 6.3 7.7 7.5 7.0 8.0 8.0 7.1 7.4 7.4 6.8 6.7 7.6 6.9 6.4 7.4 9.8 8.6 2.8 1.1 2.4 3.4 1.4 2.9 3.0 1.5 3.0 2.1 1.9 3.1 2.5 1.9 3.7 3.1 1.9 3.0 3.1 1.4 2.7 3.1 1.2 3.2 2.6 1.7 3.1 2.2 1.6 3.1 2.2 1.4 3.1 2.1 2.5 3.0 1.7 2.0 3.2 1.5 1.8 3.1 2.3 1.8 3.4 3.6 2.3 3.9 2.5 1.9 4.3 270.2 273.7 276.3 271.9 281.2 273.0 279.1 278.0 274.9 265.6 273.9 273.1 275.1 277.8 272.3 279.9 294.9 130.4 133.1 132.0 131.0 133.0 133.5 132.3 131.8 130.6 132.1 130.7 131.1 129.9 133.2 132.9 133.3 132.6 81.5 48.9 63.0 84.2 48.8 63.0 84.1 47.9 62.7 83.7 47.2 61.6 84.5 48.5 62.5 84.7 48.7 62.9 84.1 48.2 62.7 84.1 47.7 62.5 83.5 47.1 62.5 84.5 47.6 62.0 83.7 47.1 61.5 83.7 47.4 61.5 83.1 46.8 61.5 84.7 48.5 62.2 84.2 48.7 62.3 84.6 48.7 62.7 84.5 48.1 62.9 76.8 20.3 24.3 9.1 16.9 4.2 4.2 77.7 22.3 24.5 7.3 17.3 4.9 3.9 81.6 24.0 24.3 8.3 18.7 4.5 3.6 79.3 21.2 23.9 8.5 18.9 76.7 21.0 23.5 71.5 17.7 22.4 7.8 17.7 4.6 3.5 -2.5 -1.9 -1.7 -1.4 -1.8 -1.9 -2.0 -1.9 -2.3 82.4 18.8 24.6 8.5 22.0 5.6 3.6 -.7 99.4 22.6 18.7 4.9 3.5 -2.7 83.6 22.8 23.4 9.3 20.3 5.3 3.5 -2.2 81.6 21.9 24.7 8.4 18.9 4.7 3.5 -.6 83.9 18.9 4.5 3.6 81.7 23.9 23.7 8.8 19.2 4.5 3.5 77.1 15.3 24.2 8.4 4.6 3.7 84.1 26.0 24.8 8.3 18.7 4.5 3.6 83.7 25.0 25.1 4.9 3.5 85.7 18.7 26.9 8.8 23.8 5.5 3.5 53.1 54.6 48.0 48.7 53.8 45.3 46.8 49.5 50.6 46.5 46.8 52.2 6.3 6.7 5.0 5.9 41.2 3.6 2.7 6.7 1.4 12.3 14.4 43.8 6.9 3.0 6.4 1.5 12.3 13.6 5.7 44.9 8.4 3.0 5.8 1.4 12.0 14.3 5.6 40.9 4.4 3.0 6.3 1.3 12.4 13.6 41.7 5.0 2.8 6.0 1.8 12.6 13.5 46.3 9.0 4.7 8.0 1.1 10.5 13.6 5.3 48.5 7.6 2.8 6.7 1.6 15.0 14.7 5.9 39.4 4.4 2.8 5.6 1.4 12.1 13.2 5.7 47.9 9.2 4.1 6.8 1.2 11.6 15.2 5.4 43.3 5.6 3.3 6.4 1.5 12.7 13.8 5.6 46.9 5.7 42.3 5.8 2.9 6.1 1.4 12.2 13.9 130.9 133.6 132.6 131.5 133.6 134.0 132.8 132.3 131.1 132.5 131.2 9.0 2.6 .9 10.1 2.3 2.5 4.6 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures. 2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries. 3. Compensation of government employees engaged in new own-account investment and related expenditures 1997 1999 7.6 18.1 8.6 10.1 2.0 .6 22.4 25.1 8.6 -1.0 49.5 5.1 51.2 5.4 9.7 20.9 6.0 3.6 18.0 27.1 8.8 23.8 5.4 3.6 -1.4 -2.7 -1.0 53.5 53.4 57.1 5.2 48.2 7.8 2.7 6.5 1.6 15.6 14.0 5.3 51.9 8.9 3.0 7.1 1.7 15.7 15.3 133.9 133.1 6.0 4.4 6.5 1.5 12.9 15.0 44.4 7.0 2.9 6.9 1.4 13.0 13.2 45.8 6.1 2.8 6.8 1.4 13.7 15.1 5.3 48.2 7.6 2.7 6.6 1.8 15.2 14.4 131.6 130.5 133.8 133.5 31.6 9.6 28.5 4.9 3.3 for goods and services are classified as investment in structures and in software. The compensation of all general government employees is shown in the addendum. 4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial measure of the value of the services of general government fixed assets; use of depreciation assumes a zero net return on these assets. April 2000 • SURVEY OF CURRENT BUSINESS 65 Table 3.11.—Real National Defense Consumption Expenditures and Gross Investment [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 1999 IV National defense consumption expenditures and gross investment'. 361.9 Consumption expenditures Durable goods 2 Aircraft Missiles Ships Vehicles Electronics Other durable goods Nondurable goods Petroleum products Ammunition Other nondurable goods Services Compensation of general government employees, except own-account investment3. Military Civilian Consumption of general government fixed capital 4 . Other services Research and development Installation support Weapons support Personnel support Transportation of material Travel of persons Other Gross investment Structures Residual Addendum: Compensation of general government employees3. 37 348.3 341.7 347.8 342.9 350.8 348.6 332.7 341.6 347.5 344.9 285.0 293.4 293.6 293.6 20.8 10.2 2.0 .6 .7 2.6 4.6 22.0 10.0 3.1 .6 .7 2.7 5.0 21.6 11.2 2.2 .6 .7 2.6 4.4 339.2 348.3 362.4 284.9 294.0 304.9 20.6 9.8 2.2 .7 .6 2.7 4.7 21.3 9.9 22 2 10.7 2.3 .6 .7 3.1 5.0 341.4 308.7 302.4 299.4 291.4 293.3 296.9 300.3 297.1 21.1 9.0 2.8 1.2 1.1 2.4 4.6 21.0 21.2 10.2 2.4 .6 .7 2.6 4.6 21.7 10.2 2.2 .7 .7 3.0 4.9 20.7 9.7 2.2 .7 1.1 2.6 4.3 21.9 10.3 2.5 .7 1.1 2.7 4.6 19.7 8.8 2.3 .7 .9 2.8 4.2 21.0 .9 2.5 5.0 20.8 9.7 2.4 .7 1.0 2.6 4.5 9.8 2.4 .7 .9 2.5 4.7 20.2 9.6 2.2 .7 .7 2.7 4.4 4.9 22.7 10.7 2.3 .8 .7 3.3 5.1 6.9 7.7 7.7 8.1 8.8 7.8 7.4 7.8 7.7 7.6 7.6 8.9 8.1 7.7 8.5 10.4 8.6 3.4 1.1 2.4 3.4 1.4 2.9 3.1 1.5 3.0 3.0 1.9 3.1 3.1 2.0 3.6 2.9 1.9 3.0 3.3 1.4 2.7 3.5 1.2 3.2 2.9 1.7 3.1 2.9 1.6 3.0 3.1 1.5 3.1 3.3 2.6 3.0 2.7 2.1 3.1 2.6 1.8 3.1 3.2 1.8 3.4 4.2 2.4 3.8 2.5 1.9 4.2 280.7 273.7 271.0 262.3 263.1 268.5 274.1 272.8 268.4 257.2 265.0 263.0 263.9 261.2 255.4 261.5 274.3 139:0 133.1 128.3 124.3 121.0 129.8 128.6 128.2 126.6 125.7 124.4 124.3 122.6 121.5 121.0 121.2 120.3 87.4 51.5 63.4 84.2 48.8 63.0 82.0 46.3 62.6 80.1 44.2 62.2 78.5 42.5 62.2 82.6 47.2 62.8 81.8 46.7 62.7 82.0 46.2 62.5 81.4 45.2 62.4 80.8 44.9 62.3 80.1 44.4 62.2 80.2 44.2 62.1 79.4 43.3 62.1 78.6 42.8 62.1 78.2 42.8 62.1 78.8 42.5 62.2 78.5 41.8 62.3 78.5 20.4 24.7 9.4 17.7 4.5 4.2 77.7 22.3 24.5 7.3 17.3 82.0 24.3 24.8 8.4 18.3 4.6 3.5 -1.9 79.5 69.3 17.0 222 7.4 16.7 4.7 3.4 -2.1 78.5 21.1 24.1 8.0 17.7 4.7 3.4 -.6 76.6 79.3 21.2 5.4 3.3 -1.3 82.8 25.4 24.7 8.1 18.2 4.6 3.6 -1.8 23.1 23.3 8.4 18.3 4.6 3.5 21.5 24.2 8.1 17.2 4.8 3.3 21.8 22.4 8.8 18.5 5.4 3.4 -2.5 -1.0 77.8 17.9 23.6 7.9 19.8 5.7 3.4 -.6 72.4 14.5 23.1 7.8 18.8 6.0 3.4 -1.2 78.2 17.0 25.8 8.0 21.1 5.2 3.4 -2.5 75.9 20.3 23.2 8.1 17.5 4.9 3.4 -1.5 75.8 20.8 23.5 7.4 17.5 4.6 3.7 -2.4 80.0 23.4 24.0 8.1 18.1 4.6 3.6 -1.8 91.8 21.2 29.9 8.7 24.9 4.7 3.1 -.9 53.2 54.6 48.7 50.3 54.7 47.3 50.3 47.7 48.1 54.0 51.4 52.1 54.6 6.7 5.5 5.1 4.8 5.4 5.5 5.4 4.8 5.0 4.9 43.2 6.2 3.0 6.0 1.4 12.7 13.9 45.3 6.2 3.5 6.4 1.5 13.8 13.8 50.1 9.3 4.6 8.0 1.1 10.1 13.8 47.9 9.2 4.1 6.8 1.2 11.6 15.2 41.9 3.8 2.8 6.5 1.4 12.8 14.4 44.8 7.4 3.2 6.3 1.5 12.9 13.6 46.1 8.9 3.2 5.7 1.3 12.7 14.4 42.4 4.7 3.2 6.3 1.3 13.3 13.5 43.4 5.4 3.0 6.0 1.8 13.7 13.5 -.3 -.1 -.2 -.1 -.1 139.5 133.6 127.0 126.2 124.9 9.0 2.6 .9 4.9 3.9 -.1 128.8 124.8 17.7 25.6 8.1 7.8 3.0 6.7 1.6 16.3 14.7 -1.7 45.8 5.7 40.1 4.6 2.9 5.5 1.4 12.4 13.2 -.7 121.5 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the line 350.7 303.4 6.5 46.8 Equipment and software Aircraft Missiles Ships Vehicles Electronics and software Other equipment 357.0 130.4 129.1 128.7 -1.8 51.5 5.5 5.5 48.6 6.7 4.7 6.5 1.5 14.1 15.0 124.8 2.1 .8 .7 3.1 -2.4 54.5 8.1 3.0 6.9 1.4 14.3 13.1 47.2 6.3 2.9 6.8 1.4 14.7 15.0 7.8 2.9 6.6 1.8 16.4 14.3 4.7 50.0 8.1 2.9 6.5 1.6 17.0 14.0 -.4 -.1 -.9 -1.4 123.1 122.0 121.5 121.7 4.8 46.8 in the addendum. Chain-type indexes for the series in this table are shown in table 7.12. See footnotes to table 3.10. 57.8 4.7 53.3 9.1 3.2 7.0 1.8 16.9 15.3 120.7 66 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.12.—Government Transfer Payments to Persons Table 3.13.—Subsidies Less Current Surplus of Government Enterprises [Billions of dollars] [Billions of dollars] Line 1995 1996 Line 1997 902.4 934.5 954.8 642.3 678.1 706.6 720.0 543.3 327.7 180.3 21.8 21.1 .1 .7 573.7 342.0 195.6 22.4 21.7 .1 599.7 356.6 209.2 20.2 19.6 8.0 .5 1.9 1.9 1.3 Veterans benefits Pension and disability Readjustment Other 2 Food stamp benefits Black lung benefits Supplemental security income Direct relief Earned income credit Other 3 Government transfer payments to persons Federal Benefits from social insurance funds Old-age, survivors, and disability insurance Hospital and supplementary medical insurance .. Unemployment insurance State Railroad employees Federal employees Special unemployment benefits Railroad retirement Pension benefit guaranty Veterans life insurance Workers' compensation Military medical insurance' State and local Benefits from social insurance funds Temporary disability insurance Workers' compensation Public assistance Medical care Medicaid Other medical care Family assistance4 Supplemental security income General assistance Energy assistance Other^ Education Employment and training 611.8 369.4 208.7 .1 .5 20.1 19.5 .1 .5 8.1 .6 2.0 1.9 1.2 8.2 .4 1.9 1.9 1.2 8.2 .4 1.9 2.0 1.1 18.7 17.6 1.1 19.4 18.3 1.1 20.3 19.1 1.2 21.2 20.0 22.4 1.2 23.9 22.0 1.2 25.3 18.7 1.1 25.5 16.4 1.1 26.4 15.4 17.4 19.2 17.4 21.7 19.5 23.2 20.0 217.8 224.3 227.9 234.8 10.7 2.1 8.6 195.8 155.0 149.6 5.4 22.6 3.8 3.5 1.5 10.9 2.0 8.9 201.9 163.6 158.2 5.4 20.3 3.6 3.3 1.3 9.4 9.7 8.7 9.1 10.9 2.0 8.8 205.2 168.7 163.5 5.2 17.6 3.7 3.2 1.4 10.7 9.1 1.0 1.7 10.8 2.1 8.7 211.2 174.0 169.0 4.9 17.1 3.9 3.3 1.3 11.5 9.8 1.1 1.8 1.1 .9 1.5 1.6 1.2 1. Consists of payments for medical services for dependents of active duty military personnel at nonmilitary facilities. 2. Consists of mustering out pay, terminal leave pay, and adjusted compensation benefits. 3. Consists largely of payments to nonprofit institutions, aid to students, and payments for medical services for retired military personnel and their dependents at nonmilitary facilities. 4. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. 5. Consists of expenditures for food under the supplemental program for women, infants, and children; foster care; adoption assistance; and payments to nonprofit welfare institutions. 6. Consists largely of veterans benefits, Alaska dividends, and crime-victim payments. Subsidies less current surplus of government enterprises. Federal Subsidies Agricultural Housing Maritime Air carriers Other 1 Less: Current surplus of government enterprises Postal Service Federal Housing Administration Tennessee Valley Authority Other 2 1995 Subsidies Less: Current surplus of government enterprises Water and sewerage Gas and electricity Toll facilities Liquor stores Air and water terminals Housing and urban renewal Public transit 19.0 20.8 32.4 35.1 30.4 32.1 32.9 7.3 23.6 .3 0 31.9 7.5 22.9 .1 0 1.3 1.5 -3.7 2.2 2.4 .7 35.1 12.2 -2.0 1.3 1.6 -.4 33.4 7.3 24.5 .2 0 1.4 -1.7 -3.9 2.0 2.0 -1.8 .9 3.0 -2.8 2.8 2.7 .4 -10.2 -12.5 -11.4 -11.3 .3 10.5 4.2 .3 12.8 5.0 6.6 7.1 .4 11.8 5.4 7.4 1.9 .7 2.2 .5 11.7 5.8 7.7 1.9 .7 2.3 -6.0 -14.7 13.9 1.7 .6 1.8 -2.7 -13.0 11.2 Other3 1997 22.6 1.8 .6 State and local 1996 22.2 1.8 .6 2.0 -2.3 -4.9 -13.4 12.0 -14.1 13.2 21.9 .1 0 1. Consists largely of subsidies to railroads and mass transit systems. 2. Consists largely of the Bonneville Power Administration, other electric power agencies, and insurance agencies other than those insuring deposits in financial institutions. 3. Consists of lotteries, off-track betting, local parking, and miscellaneous activities. Table 3.14.—Social Insurance Funds Current Receipts and Expenditures [Billions of dollars] Line 1995 1996 1997 1998 Federal Current receipts Contributions for social insurance Personal contributions Employer contributions Government Other . . . Interest received Current expenditures Administrative expenses (consumption expenditures) Transfer payments to persons Current surplus or deficit (-) . . 1 572.7 600.0 639.9 2 519 6 543 3 5772 611 2 3 4 5 6 266.2 253.4 12.3 241 1 278.2 265.2 12.4 252 8 296.5 280.7 12.5 2682 314.2 297.0 12.9 2841 677.8 7 531 566 627 66 5 8 552.8 583 3 608.8 621.4 9 10 9.5 543.3 9.6 573 7 9.1 599.7 9.6 611.8 11 19.9 16.7 31.0 56.4 12 17.0 16.1 14.7 14.7 13 13.6 12.5 11.0 10.7 14 15 16 17 2.6 11.0 2.8 8.2 2.2 10.2 2.5 7.8 1.6 9.4 2.4 7.0 1.8 9.0 2.5 6.5 State and local Current receipts Contributions for social insurance Personal contributions Employer contributions Government Other Interest received Current expenditures Administrative expenses (consumption expenditures) Transfer payments to persons Current surplus or deficit (-) 18 34 36 37 39 19 13.0 13.3 13.5 13.8 20 21 2.3 10.7 2.4 10.9 2.7 10.9 3.0 10.8 22 4.0 2.7 1.2 .9 NOTE.—In this table, interest received is included in current receipts; in tables 3.1, 3.2, 3.3, 3.16, 3.18, 3.19, 9.3, and 9.4, interest received is netted against current expenditures. April 2000 • SURVEY OF CURRENT BUSINESS 67 Table 3.18B.—Relation of Federal Government Current Receipts and Expenditures in the National Income and Product Accounts to the Budget, Fiscal Years and Quarters [Billions of dollars] Quarterly totals not seasonally adjusted Line 1995 1997 1998 1997 1996 1998 Current receipts Budget receipts 321.3 445.3 362.3 346.0 349.1 496.4 387.4 386.4 378.5 544.1 412.4 412.6 21.5 2.6 4.6 14.5 0 -.1 25.1 2.7 4.5 17.1 0 .9 27.9 2.9 4.4 19.7 0 1.0 33.9 3.0 4.3 23.9 0 2.7 5.4 .8 1.2 3.5 0 0 7.0 .8 1.1 5.2 0 0 7.2 .6 1.1 4.5 0 .9 6.3 .6 1.1 4.3 0 .2 6.3 .8 1.1 4.2 0 .2 8.3 .8 1.1 6.2 0 .3 7.0 .7 1.1 5.0 0 .2 7.2 .7 1.2 5.2 0 .2 7.6 .8 1.0 5.1 0 .7 10.6 .8 1.1 7.8 0 8.5 .7 1.0 5.9 0 9.2 .7 1.2 6.4 0 -37.3 -50.2 3.7 -20.7 -37.0 -20.0 4.7 -21.7 -41.0 -20.4 5.6 -26.2 -39.9 -20.7 5.8 -24.9 -9.2 -5.1 1.2 -5.2 -9.0 ^.9 1.2 -5.4 -10.2 -5.0 1.3 -6.5 -12.9 -5.0 1.5 -9.4 -9.3 -5.2 1.3 -5.5 -9.0 -5.1 1.4 -5.3 -9.8 -5.2 1.4 -6.0 -9.7 -5.2 1.5 -6.1 -9.7 -5.2 1.3 -5.8 -9.8 -5.2 1.5 -6.0 -10.7 -5.2 1.4 -6.9 -9.6 -6.7 1.9 -4.9 3.8 4.1 .2 1.0 0 -1.6 3.9 .5 -.1 1.9 1.4 .2 7.8 3.7 -.3 1.7 2.2 3.7 -1.6 -.3 1.7 4.0 -.2 31.3 17.9 10.3 2.0 1.2 -.1 -24.3 -17.7 -7.6 -.2 .8 .3 1.6 2.5 -1.9 1.8 -.7 -.1 -.7 -2.0 1.9 .4 29.5 17.8 10.1 2.0 0 -.5 -31.0 -23.9 -7.6 -.1 .6 .1 9.0 9.0 -2.2 1.8 -.3 -3.6 -5.3 -1.0 -2.5 -.1 .3 31.2 18.7 9.3 2.5 1.1 -4 -29.3 -21.9 -6.8 -.4 -.2 .1 10.4 7.0 -1.8 2.2 3.2 -.2 -13.1 -4.1 -.7 -2.0 -4.9 -1.3 1,371.0 1,468.6 1,599.9 1,731.1 356.3 423.0 353.0 381.6 466.2 399.1 380.2 411.8 514.0 425.0 399.9 1,515.4 1,560.2 1,600.9 1,652.2 393.7 392.1 394.4 404.4 401.4 395.5 399.6 426.2 408.9 407.5 409.6 467.6 18.5 2.1 11.4 -.6 -5.4 17.3 0 -2.9 -.1 .7 6.3 1.3 5.6 -2.5 0 -1.8 -.2 -.1 -.1 0 -2.6 2.1 -6.0 -20.3 -5.5 17.9 0 -2.9 -.4 .5 6.6 -.5 2.0 -1.5 0 -1.1 0 -.1 .1 0 -1.9 2.2 -12.0 -.8 -29.0 17.8 0 -2.9 .8 1.2 7.8 1.0 3.7 -1.2 0 -1.6 .1 .2 -.1 0 -19.1 2.3 -23.2 -20.4 -20.7 17.9 0 -5.2 .1 -1.4 7.4 4.5 7.4 -2.0 0 -.9 -3.7 -.1 -3.6 0 13.9 2.2 12.1 -1.1 -5.4 18.5 0 -5.2 .1 -<3.2 6.1 1.9 6.7 -3.8 0 -1.0 -.2 -.2 0 0 -11.6 2.2 -7.3 -20.5 -5.5 18.7 0 -5.2 .2 -1.7 6.9 0 3.8 -2.6 0 -1.2 -6.7 -.1 -6.6 0 -6.7 2.3 -12.9 -1.1 -30.4 18.6 0 -5.2 -.2 .3 8.3 1.1 3.7 -1.5 0 -1.1 -.4 .3 -.7 0 -13.3 2.3 -23.1 -21.0 -20.8 18.6 0 -3.0 .2 -1.2 7.4 4.4 5.0 -.7 0 .1 -.3 -.2 -.1 0 16.2 2.3 12.4 -1.4 -5.3 19.1 0 -3.0 .3 -2.6 5.8 1.9 3.2 -.8 0 -.5 -.8 -.4 -.4 0 -2.8 2.2 -7.6 -21.2 -5.6 19.1 0 ^3.0 .5 -1.3 6.6 2.5 2.8 -.5 0 .3 -2.8 -.4 -2.4 0 -2.2 2.3 -12.5 -1.3 -30.4 19.2 0 -3.0 .5 1.5 8.4 1.9 4.0 -1.1 0 -1.0 -1.3 .6 -1.8 0 -9.9 2.4 -24.5 -22.6 -51.0 19.1 0 -5.5 .6 .2 8.0 9.6 10.6 -1.9 0 .8 1,351.5 1,452.8 1,579.0 1,721.5 Less: Coverage differences Geographic1 Contributions received by Federal employee retirement plans2 Capital transfers received3 Financial transactions Other4 Netting and grossing differences Supplementary medical insurance premiums Taxes received from the rest of the world5 Other6 , Plus: Timing differences Corporate profits taxes Federal and State unemployment insurance taxes Withheld personal income tax and social security contributions Excise taxes Other Equals: Federal Government current receipts, national income and product accounts. Current expenditures Budget outlays verage Geographic Federal employee retirement plan transactions2 Interest received Contributions received (employer) Benefits paid Administrative expenses Financing disbursements from credit programs8 Other differences in funds covered9 Net investment10 Capital transfers paid u Financial transactions Loan disbursements less loan repayments and sales Deposit insurance Net purchases of foreign currency Other Net purchases of nonproduced assets Outer Continental Shelf Land and other12 Other13 Netting and grossing differences Supplementary medical insurance premiums Taxes received from the rest of the world5 Other6 Plus: Timing differences Purchases (increase in payables net of advances) Interest Transfer payments Subsidies less current surplus of government enterprises Equals: Federal Government current expenditures, national income and product accounts. -13.8 8.0 -29.0 -39.6 -67.3 67.8 .1 -4.3 -.6 -.4 27.1 -7.1 15.1 -14.8 ' 0 -7.4 -7.4 0 -7.4 0 -.1 8.5 -27.0 -41.4 -55.9 70.2 .1 -11.7 .2 .5 27.6 2.0 15.3 -7.7 0 -5.6 -.1 0 -.1 0 -23.4 9.0 -31.3 -43.1 -62.0 73.7 .1 -20.7 .3 -6.0 28.8 7.5 21.7 -9.9 0 -4.2 -11.0 -.2 -10.8 0 -2.1 9.1 -30.8 -44.8 -62.1 76.0 .1 -11.9 1.5 -3.6 28.2 10.7 15.0 -3.2 0 -1.1 -5.2 -.5 -37.3 -20.2 3.7 -50.7 -37.0 -20.0 4.7 -21.7 -41.0 -20.4 5.6 -26.2 -39.9 -20.7 5.8 -24.9 -9.2 -5.1 1.2 -5.2 -9.0 -4.9 1.2 -5.4 -10.2 -5.0 1.3 -£.5 -12.9 -5.0 1.5 -9.4 -9.3 -5.2 1.3 -5.5 -9.0 -5.1 1.4 -5.3 -9.8 -5.2 1.4 -6.0 -9.7 -5.2 1.5 -6.1 -9.7 -5.2 1.3 -5.8 -9.8 -5.2 1.5 -6.0 -10.7 -5.2 1.4 -6.9 2.1 1.1 .1 -.5 1.4 14.3 7.6 2.6 3.3 .9 -3.3 -.5 -1.3 -.4 -1.0 -.1 .6 -2.4 -.2 1.9 9.1 3.5 .6 3.3 1.8 1.1 .5 1.0 -.2 -.3 1.4 2.1 -.4 -.3 0 -6.6 -2.3 .4 -3.8 -.8 6.2 2.1 -.5 3.7 .9 -1.5 -.1 -.5 -.2 -.8 -1.5 -.3 -.8 -.2 -.3 -5.4 -2.3 0 -3.6 7.7 2.8 -.2 3.8 1.3 -1.2 -.3 -.1 0 -.7 -1.3 .5 -2.1 -.4 .7 -33.6 -2.2 2.8 -33.2 -1.1 1,568.6 1,611.6 1,662.0 1,694.1 393.4 404.9 407.8 429.8 403.1 414.5 414.6 443.8 410.1 418.9 421.3 453.5 -58.5 -62.3 101.0 -12.2 -39.8 -30.4 136.7 2.8 -55.0 -3.2 -1.7 .3 -1.2 -2.6 -1.3 1.5 -.2 0 -9.6 S.7 1.9 -4.9 Surplus or deficit (-) Budget surplus or deficit (-) (1-19) Plus: Net investment (29) Less: Net capital transfers received (5-30) Federal employee retirement plans (4-22) Other coverage differences (3+6+7-21-27-28-31-36-39) Timing differences (44-12) Equals: Federal Government current surplus or deficit (-), national income and product accounts (18-49). -163.9 -107.4 -22.0 69.2 -72.4 53.2 -32.2 -.4 .5 -6.0 -3.6 .7 .5 1.2 -12.6 33.5 14.0 -1.7 -10.6 31.5 4.7 10.4 -S.1 35.7 18.7 -11.1 -4.3 35.2 1.5 -3.8 -2.8 -10.2 .5 -22.2 -1.4 9.0 2.5 25.4 -3.3 13.1 .5 -.2 ^2 24.3 2.7 -6.9 -1.9 -11.0 2.1 -23.3 -.8 8.4 10.6 29.4 -3.3 14.0 3.3 -10.4 -2.3 24.3 -2.7 3.2 -.7 -11.4 .8 -23.5 1.2 8.7 2.3 28.1 -2.5 13.6 1.1 -11.6 -1.6 25.6 -4.7 -20.5 -197.5 -143.0 -62.1 37.0 -37.1 18.2 -41.0 -76.9 -21.5 51.6 -15.4 -€3.5 1.7 95.1 3.7 -53.6 1. Consists largely of contributions for social insurance by residents of U.S. territories and Puerto Rico. 2. These transactions are included in the NIPA personal sector. 3. Consists of estate and gift taxes. 4. Consists largely of U.S. Treasury receipts from sales of foreign currencies to Government agencies. 5. Taxes received from the rest of the world are included in receipts in the budget and netted against expenditures (transfer payments) in the NIPA's. 6. Includes proprietary receipts that are netted against outlays in the budget and classified as receipts in the NIPA's. Also includes some transactions that are not reflected in the budget data but are added to both receipts and expenditures in the NIPA's. 7. Consists largely of transfer payments, subsidies, and grants-in-aid to residents of U.S. territories and Puerto Rico. 8. Consists of transactions (not included in the budget totals) that record all cash flows arising from post-1991 direct loan obligations and loan guarantee commitments. Many of these flows are for new loans or loan repayments; consequently, related entries are included in line 32. 9. Consists largely of agencies or accounts such as the Postal Service and the Federal Financing Bank that were not included in the budget in some time periods. 10. Net investment is gross investment less consumption of fixed capital for government enterprises and general government. 11. Consists of investment grants to State and local governments and maritime construction subsidies. Does not include the forgiveness of debts owed by foreign governments to the U.S. Government; this forgiveness is classified as a capital transfer paid by the United States and is excluded from both budget outlays and NIPA current expenditures. 12. Consists of net sales of land other than the Outer Continental Shelf and, beginning with 1995, includes the auction of the radio spectrum. 13. Consists largely of net expenditures of foreign currencies. NOTE.—Through 1976, fiscal year estimates reflect a July 1-June 30 Federal fiscal year. Beginning with 1977, fiscal year estimates reflect an October 1-September 30 Federal fiscal year. NIPA quarterly and fiscal year estimates in this table are consistent with the not seasonally adjusted estimates in table 9.3. 68 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.19.—Relation of State and Local Government Current Receipts and Expenditures in the National Income and Product Accounts to Bureau of Census Government Finances Data, Fiscal Years Table 3.20.—Relation of Commodity Credit Corporation Expenditures in the National Income and Product Accounts to Commodity Credit Corporation Outlays in the Budget [Billions of dollars] [Billions of dollars] Line 1995 1996 Current receipts Commodity Credit Corporation outlays in the budget 1,417.9 1,513.6 Census total revenue Less: Coverage differences State and local employee retirement plan transactions ! Contributions2 Interest received3 Dividends received3 Capital gains net of losses 4 Unemployment insurance fund contributions and earnings 5 Certain grant programs Capital transfers received 6 Financial transactions4 Sale of land Other 2 3 4 5 6 7 8 9 10 11 12 13 202.6 122.6 34.4 48.6 14.7 24.9 37.2 Netting and grossing differences Revenues of government enterprises Government sales included in Census total revenue 7 Interest and dividends received, excluding retirement plans Employer contributions to own social insurance funds 243.8 165.4 36.1 62.0 16.4 50.9 33.9 6.6 6.3 31.8 32.8 1.8 .7 1.8 1.7 .7 3.0 14 15 16 17 18 317.4 139.1 122.3 57.0 -1.0 337.1 146.7 129.5 61.6 Plus: Timing differences Corporate profits taxes 8 Other 8 19 20 21 1.9 0 1.9 7.0 .7 6.4 Equals: State and local government current receipts, national income and product accounts. 22 -.7 939.8 Current expenditures 1,351.4 1,397.6 152.0 40.2 -23.5 -1.4 155.4 45.9 -25.0 68.0 2.9 29.5 73.5 -1.1 7.2 7.6 Netting and grossing differences Revenues of government enterprises Government sales included in Census total revenue 7 Interest and dividends received, excluding retirement plans Employer contributions to own social insurance funds 317.4 139.1 122.3 57.0 -1.0 337.1 146.7 129.5 61.6 -.7 Plus: Timing differences, excess of accruals over disbursements, and other 8 . 5.8 13.3 887.9 918.4 Census total revenue less Census total expenditures (1-23) 66.5 116.0 Plus: Net investment (30) 70.6 73.5 Less: Net capital transfers received (10) State and local employee retirement plans (3-25) Other coverage differences (8+9+11+12+13-29-31-32-33) Timing differences (39-19) 31.8 82.4 7.1 3.9 32.8 119.5 Equals: State and local government current surplus or deficit (-), national income and product accounts (22-40). 11.9 21.4 Census total expenditures Less: Coverage differences State and local employee retirement plan transactions9 Employer contributions to own retirement plans Benefits paid Administrative expenses Unemployment insurance fund benefits paid 5 Net investment10 Services provided without payment by domestic securities brokers. Purchases of land Other Equals: State and local government current expenditures, national income and product accounts. 61.4 2.3 35.2 70.6 40 Surplus or deficit (-) 9.6 6.3 1. Contributions received, interest received, and dividends received are included in the NIPA personal sector. Capital gains net of losses are excluded from the NIPA's. 2. Consists of employer and employee contributions, except employer contributions to their own employee retirement plans. 3. Prior to 1968, dividends received is included in interest received (line 5). 4. Prior to 1985, capital gains (net of losses) of State and local employee retirement plans is included in line 5. Unemployment insurance is recorded as a Federal program in the NIPA's. 6. Consists of estate and gift taxes and Federal investment grants. 7. In the NIPA's, final expenditure components of GDP are recorded net of sales or receipts; all current-account sales by general government are therefore deducted in the calculation of NIPA current expenditures. However, most sales by general government are included in Census total revenue; a reconciliation item for these sales is therefore required for both receipts and expenditures. The amount of the reconciliation item is less than the sales shown in table 3.9 because Census total revenue does not include medical vendor payments made by State and local governments to public institutions (classified as an intragovernmental transaction by Census) or the administrative expenses of State and local employee retirement plans (treated in the NIPA's as sales by government to the personal sector). 8. Differences that arise from restating the Census Bureau data to a year ending June 30 are included in timing. Census Bureau measures of State and local government revenue and expenditures (lines 1 and 23) primarily represent a fiscal year ending June 30, but some governments use other fiscal years. The NIPA measures shown in this table are for the fiscal year ending June 30, and are consistent with the not seasonally adjusted estimates in table 9.4. 9. These transactions are included in the NIPA personal sector. 10. Net investment is gross investment less consumption of fixed capital for government enterprises and general government. Line 1997 Less: Financial transactions Netting differences Timing differences Other 1 Equals: Commodity Credit Corporation current expenditures, national income and product accounts. Consumption expenditures Change in inventories Other consumption expenditures Transfer payments to the rest of the world Grants-in-aid to State and local governments Net interest paid Subsidies 1. Consists largely of foreign currency transactions. 1995 1996 1997 1998 2.9 8.7 15.2 -3.8 -.3 0 0 .1 -.3 0 0 1.7 -.1 0 0 7.0 8.9 13.6 0 -.2 12.1 April 2000 • SURVEY OF CURRENT BUSINESS 69 4. Foreign Transactions. Table 4.1 .—Foreign Transactions in the National Income and Product Accounts [Billions of dollars] Seasonally adjusted at annual rates Line 1997 1995 1996 1997 1,050.8 1,119.7 1,250.6 1,251.6 1,300.6 1,198.5 1,250.2 1,279.4 1,274.3 1,265.4 1,253.0 1,225.5 1,262.7 1,250.7 1,274.3 1,316.2 1,361.2 818.6 583.8 394.3 189.6 234.7 874.2 618.4 421.7 196.7 255.8 968.0 689.0 483.5 205.4 279.0 966.3 681.3 487.2 194.0 285.1 998.3 699.0 503.6 195.4 299.3 929.6 659.4 458.1 201.3 270.2 965.3 685.7 481.4 204.3 279.6 988.6 704.8 499.4 205.4 283.8 988.6 706.0 495.3 210.7 282.6 974.3 692.8 493.5 199.3 281.5 960.1 671.8 477.8 194.0 288.2 949.1 667.2 479.4 187.8 281.9 981.8 693.3 498.3 195.0 288.6 966.9 674.3 486.7 187.6 292.6 978.2 680.5 489.8 190.7 297.7 1,008.5 708.8 512.2 196.6 299.7 1,039.5 732.3 525.8 206.5 307.2 I Receipts from the rest of the world .... Exports of goods and services Goods1 Durable Nondurable Services1 232.3 245.6 282.6 285.3 302.3 268.9 284.9 290.9 285.7 291.1 292.9 276.4 280.8 283.8 296.1 307.7 321.7 1,050.8 1,119.7 1,250.6 1,251.6 1,300.6 1,198.5 1,250.2 1,279.4 1,274.3 1,265.4 1,253.0 1,225.5 1,262.7 1,250.7 1,274.3 1,316.2 1,361.2 Imports of goods and services Goods 1 Durable Nondurable Services l 902.8 757.6 510.4 247.3 145.2 963.1 808.3 533.3 275.1 154.8 1,056.3 885.1 587.3 297.8 171.2 1,115.9 930.4 636.1 294.3 185.5 1,252.2 1,049.1 716.3 332.8 203.1 1,017.3 852.3 560.6 291.7 165.0 1,042.8 874.1 581.3 292.8 168.7 1,079.2 904.3 601.6 302.7 174.9 1,086.0 909.7 605.9 303.8 176.3 1,091.7 912.8 620.7 292.1 178.9 1,114.0 928.9 632.3 296.7 185.1 1,114.8 927.2 632.0 295.2 187.7 1,143.1 952.6 659.5 293.2 190.4 1,168.5 974.3 676.6 297.7 194.2 1,224.0 1,022.3 701.7 320.6 201.7 1,286.6 1,079.3 732.5 346.7 207.4 1,329.6 1,120.5 754.4 366.1 Income payments 211.9 227.5 278.4 295.2 322.3 263.7 275.4 288.9 285.5 288.0 292.9 302.0 297.9 298.2 310.4 323.2 357.3 34.0 16.5 9.8 7.7 39.8 18.2 13.6 8.0 20.6 10.0 9.0 42.0 22.3 10.4 9.3 44.6 24.3 10.5 9.8 34.8 19.6 6.7 8.5 35.8 19.8 7.1 8.9 38.1 21.5 7.4 9.2 49.8 21.7 18.8 9.3 37.9 21.1 7.6 9.1 37.4 21.8 6.2 9.3 41.3 22.9 9.1 9.3 51.6 23.3 18.7 9.6 39.7 23.5 6.8 9.5 43.6 24.6 9.2 9.8 42.7 24.5 8.5 9.8 52.5 24.7 17.7 10.1 -98.0 -110.7 -123.7 -201.5 -318.5 -117.3 -103.7 -126.7 -146.9 -152.1 -191.4 -232.6 -229.9 -255.7 -303.7 -336.3 --378.2 1,052.6 1,078.2 763.3 548.2 214.9 290.2 783.7 560.9 222.7 295.5 Income receipts Payments to the rest of the world Transfer From From From payments (net) persons (net) government (net) business Net foreign investment 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986,, repairs and alterations of equipment are reclassified from goods 209.0 to services, Table 4.2.—Real Exports and Imports of Goods and Services and Receipts and Payments of Income [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 I Exports of goods and services Goods 1 Durable Nondurable Services l 808.2 568.8 378.0 191.0 239.5 Income receipts 874.2 618.4 421.7 196.7 255.8 983.1 708.1 498.3 209.9 275.2 1,004.6 722.8 513.5 209.3 282.0 1,042.3 942.1 977.6 751.9 537.5 214.2 290.9 674.0 469.2 204.8 268.2 702.9 494.8 208.1 274.9 1999 III IV I 1,004.2 724.7 515.0 209.8 279.7 1,008.4 731.0 514.3 216.7 277.8 1,004.5 725.9 515.6 210.3 279.0 II 994.5 709.3 501.8 207.5 285.0 III 990.6 712.0 507.5 204.4 278.8 IV I II 1,028.7 1,014.3 726.4 518.2 208.1 287.9 1,024.3 734.1 522.8 211.2 290.1 744.2 529.3 214.9 285.0 IV 236.5 245.6 278.1 279.2 291.8 265.6 280.9 285.9 280.1 285.5 286.9 270.3 274.0 276.0 286.6 296.5 308.2 Imports of goods and services Goods 1 . . . . Durable Nondurable Services1 1,095.2 1,365.4 1,162.5 804.3 358.5 203.9 1,034.7 869.8 584.5 285.5 164.9 1,080.8 912.6 611.2 301.5 168.3 1,125.5 949.1 635.9 313.3 176.4 1,139.9 961.2 647.7 313.6 178.7 993.2 673.1 320.4 185.8 1,215.6 1,025.5 693.3 332.5 190.1 1,231.0 1,037.9 700.7 337.5 193.1 1,263.1 1,069.7 733.7 336.0 193.8 1,300.9 1,102.0 753.6 348.5 199.4 1,345.4 923.2 619.8 303.5 172.1 1,222.2 1,031.6 700.2 331.6 190.7 1,179.0 739.1 481.7 257.8 147.7 963.1 808.3 533.3 275.1 154.8 1,142.5 787.4 355.0 203.7 1,393.0 1,188.9 825.3 363.8 205.5 1,422.3 1,216.8 850.8 366.8 207.2 Income payments 216.2 227.5 272.0 286.9 309.2 259.2 269.4 281.8 277.5 280.5 284.9 293.2 289.1 288.5 298.8 309.4 340.1 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one fperiod, " the "" corresponding chained-dollar estimates are usually not additive. Chain-type quantity indexes for the series in this table are shown in table 7.9. 70 • April 2000 SURVEY OF CURRENT BUSINESS Table 4.3.—Exports and Imports of Goods and Services by Type of Product [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1999 1998 I Exports of goods and services Exports of goods 1 Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Exports of services • Transfers under U.S. military agency sales contracts. Travel Passenger fares Other transportation Royalties and license fees Other private services Other Imports of goods and services Imports of goods l Foods, feeds, and beverages Industrial supplies and materials, except petroleum and products. Durable goods Nondurable goods Petroleum and products Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Imports of services' Direct defense expenditures Travel Passenger fares Other transportation Royalties and license fees Other private services Other = Addenda: Exports of agricultural goods 2 Exports of nonagricultural goods Imports of nonpetroleum goods 968.0 966.3 681.3 46.4 998.3 699.0 45.5 929.6 659.4 51.7 965.3 685.7 142.8 53.7 89.1 142.0 53.8 88.1 311.2 53.4 46.6 211.2 74.8 80.8 41.4 39.3 44.7 147.5 53.3 94.2 152.8 55.5 97.3 277.8 39.4 46.9 818.6 874.2 583.8 618.4 50.5 141.3 49.8 91.4 233.8 26.1 39.7 168.0 61.8 64.4 32.8 31.6 32.1 55.5 141.1 51.0 9O.t 253.3 30.8 43.7 178.7 65.0 70.1 35.7 34.3 33.5 152.5 55.1 97.5 295.7 41.4 49.4 205.0 74.0 77.4 39.8 37.6 37.8 300.1 53.5 45.2 201.3 73.2 79.3 40.5 38.7 39.5 234.7 255.8 279.0 285.1 13.7 14.6 16.8 16.3 299.3 16.2 63.4 18.9 26.1 30.3 63.5 18.9 902.8 757.6 33.2 119.9 69.8 20.4 26.1 32.5 72.4 20.0 963.1 808.3 35.7 125.2 73.3 20.8 27.0 33.8 85.6 21.8 1,056.3 39.7 135.4 71.3 20.0 25.5 36.8 92.1 23.1 1,115.9 930.4 41.2 142.6 59.8 60.2 56.2 221.4 10.7 56.3 154.4 123.8 160.0 83.8 76.2 43.1 145.2 10.0 44.9 14.7 27.0 6.9 35.2 6.3 63.1 62.1 72.7 228.1 12.7 61.5 153.9 128.9 172.1 90.4 81.7 45.6 154.8 11.0 48.0 15.8 27.4 7.8 38.0 6.7 66.2 71.8 253.3 16.6 70.2 166.5 139.8 193.9 99.4 94.5 51.2 171.2 11.7 52.1 18.1 29.0 9.4 43.9 7.0 57.2 526.6 701.5 61.5 556.9 735.6 58.4 630.5 813.3 51.5 885.1 1,008.5 1,039.5 680.5 708.8 732.3 43.2 133.6 51.7 81.9 301.7 56.6 44.1 200.9 71.4 79.6 39.5 40.1 44.8 45.3 137.0 52.5 84.5 299.5 48.7 46.5 204.3 75.0 79.1 40.5 38.7 44.5 47.1 142.6 53.8 88.8 319.3 53.9 48.2 217.2 76.0 80.6 41.5 39.0 43.2 324.2 54.3 47.6 222.4 76.8 83.7 44.2 39.5 46.3 292.6 16.5 297.7 299.7 307.2 15.1 16.0 16.5 15.8 41.3 145.0 68.6 20.2 25.4 36.1 93.1 23.4 1,114.8 927.2 41.3 144.3 71.8 19.4 26.3 39.6 93.0 23.5 1,143.1 952.6 41.6 140.3 72.6 20.0 26.0 37.3 96.4 23.8 1,168.5 974.3 41.7 140.0 73.5 21.0 26.9 37.6 98.6 24.2 1,224.0 1,022.3 43.8 143.8 73.0 21.3 27.6 37.4 99.3 24.5 1,286.6 1,079.3 44.2 151.6 75.7 22.1 29.3 37.6 101.7 25.0 1,329.6 1,120.5 44.8 159.4 73.6 67.3 54.4 266.7 18.0 71.9 176.8 145.3 209.4 107.4 102.0 55.3 178.9 12.4 54.9 18.5 29.3 11.8 44.9 7.1 77.4 67.6 53.6 269.2 22.6 71.7 174.9 145.4 217.1 111.7 105.5 57.3 185.1 12.2 56.7 19.8 30.4 10.8 48.1 7.2 77.2 67.1 49.8 268.2 22.5 71.6 174.1 144.3 219.0 112.2 106.8 60.3 187.7 13.1 56.3 20.3 30.8 10.9 48.7 7.6 75.1 65.2 45.8 274.2 24.2 74.7 175.3 161.2 221.1 114.7 106.4 68.5 190.4 13.6 56.5 20.5 31.4 11.7 49.1 7.6 75.0 65.0 42.4 279.1 22.2 77.6 179.3 171.6 229.2 115.8 113.5 70.3 194.2 14.0 59.4 20.5 30.9 12.7 49.3 7.4 77.8 66.1 63.7 291.7 22.6 82.0 187.1 175.1 232.8 121.5 111.4 71.4 84.1 75.3 85.6 314.2 23.7 83.5 14.4 60.0 21.3 33.2 13.0 52.2 7.7 80.1 71.5 78.3 302.2 24.9 82.5 194.7 186.2 243.0 127.2 115.8 73.7 207.4 15.4 60.9 21.8 36.1 11.9 53.3 7.9 56.1 636.7 858.4 52.8 619.0 875.3 49.2 618.0 877.3 54.3 638.9 906.8 47.3 627.0 931.9 49.0 631.4 958.7 51.8 657.0 1,001.0 667.2 42.8 299.0 56.2 44.8 198.0 68.2 80.3 41.2 39.1 37.9 309.2 63.6 45.6 207.3 77.1 78.4 40.2 38.2 38.0 45.9 143.4 53.7 89.7 291.6 46.5 45.1 200.0 72.6 79.2 40.3 38.8 39.3 282.6 281.5 288.2 281.9 288.6 15.5 17.8 17.3 15.1 74.1 20.9 26.8 34.8 87.9 22.0 1,079.2 904.3 41.2 137.7 72.4 21.0 27.4 34.0 89.7 22.5 1,086.0 909.7 40.6 138.9 71.6 19.7 25.4 35.5 89.2 22.4 1,091.7 912.8 40.8 140.8 73.0 20.7 25.1 36.0 93.2 22.9 1,114.0 43.1 7.0 70.1 67.7 70.3 262.0 19.0 73.2 169.7 141.5 197.4 100.9 96.5 54.1 174.9 12.0 52.6 18.8 28.8 10.5 45.0 7.2 71.4 67.5 68.5 263.5 18.2 70.6 174.7 139.4 204.5 104.4 100.1 54.3 176.3 12.6 52.6 18.1 29.6 10.1 46.2 7.1 58.1 627.6 803.4 57.4 647.3 834.0 60.3 645.7 841.2 293.4 40.8 49.9 202.7 73.3 77.5 40.3 37.2 37.7 49.8 155.2 55.8 99.4 307.9 42.9 51.9 213.1 76.4 77.8 40.5 37.3 37.7 53.6 154.8 55.7 99.1 303.9 42.3 48.7 212.8 76.0 78.7 40.2 38.5 39.1 49.4 149.3 56.5 92.8 300.7 47.9 45.5 270.2 15.5 279.6 283.8 18.6 17.4 73.7 21.1 27.5 37.5 99.0 24.4 1,252.2 1,049.1 43.6 148.7 73.3 20.6 26.8 32.9 80.1 21.0 1,017.3 73.3 20.6 27.0 33.5 84.6 21.9 1,042.8 874.1 39.5 133.6 75.8 66.8 50.9 269.6 21.8 72.5 175.3 149.1 216.7 111.5 105.2 60.4 185.5 12.8 56.1 19.8 30.5 11.3 47.7 7.4 79.2 69.5 67.5 296.8 23.4 81.4 192.0 180.1 239.9 123.9 115.9 72.5 203.1 14.7 60.7 21.5 34.2 12.4 51.8 7.7 66.1 65.3 77.5 237.1 13.9 66.3 156.9 139.9 182.4 94.3 88.2 46.6 165.0 69.2 64.4 70.7 250.6 11.3 51.6 17.2 28.1 8.4 41.4 10.9 51.4 18.5 6.9 53.1 628.2 879.5 49.7 649.2 981.6 57.9 601.5 774.9 191.5 70.4 75.5 38.3 37.2 36.5 852.3 37.5 131.4 981.8 960.1 671.8 706.0 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services. 978.2 674.3 974.3 704.8 51.0 15.3 70.5 164.7 138.4 191.4 98.2 93.3 49.8 168.7 29.3 8.6 928.9 138.8 51.9 86.9 47.5 139.7 52.6 87.1 200.0 74.7 79.2 40.3 38.9 43.0 201.7 46.5 154.8 57.4 97.4 206.9 187.5 254.3 131.3 123.0 74.7 209.0 15.0 62.6 22.4 36.6 12.3 52.2 7.8 50.8 681.6 1,034.9 2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonautomotive consumer goods, April 2000 • SURVEY OF CURRENT BUSINESS 71 Table 4.4.—fleal Exports and Imports of Goods and Services by Type of Product [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line Exports of goods and services Exports of goods' Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Exports of services1 1995 1996 1997 1998 712.0 744.2 726.4 734.1 763.3 783.7 54.1 150.5 56.0 94.4 313.9 44.4 58.4 210.9 71.9 78.5 40.0 38.5 40.4 51.4 149.0 55.0 94.0 325.1 53.7 61.0 209.5 67.6 79.8 41.0 38.8 39.4 57.8 152.3 56.3 96.0 337.2 60.4 63.1 212.3 73.9 78.8 40.2 38.6 44.9 52.9 147.1 55.9 91.1 56.1 322.7 40.6 58.9 223.1 75.4 77.9 39.7 38.2 39.7 57.3 154.3 58.5 95.8 321.7 45.9 56.9 218.2 76.4 77.5 39.8 37.8 38.9 213.4 70.5 79.3 39.5 39.8 46.9 150.1 57.0 93.1 328.4 45.6 67.1 217.5 74.0 78.9 40.5 38.4 46.8 59.1 152.7 58.2 94.4 352.1 50.3 71.4 231.9 74.8 80.3 41.4 38.8 45.3 279.7 277.8 279.0 285.0 278.8 285.0 287.9 290.1 17.9 16.0 18.4 18.0 16.0 16.1 16.5 16.1 290.2 16.5 58.8 162.1 61.6 100.4 356.7 50.4 70.7 236.8 75.3 83.2 44.1 39.1 48.1 295.5 15.6 71.2 22.0 25.8 35.2 92.4 20.5 .4 21.5 26.1 35.3 92.3 21.0 .4 19.6 27.4 38.6 92.1 21.6 .3 70.7 19.7 27.7 36.3 95.0 21.8 .8 1,179.0 1,215.6 1,231.0 1,263.1 1,300.9 912.6 949.1 993.2 1,025.5 1,037.9 1,069.7 1,102.0 38.7 41.4 134.7 40.8 138.0 70.5 22.1 27.4 33.2 88.9 19.9 -1.0 1,139.9 961.2 40.6 139.4 70.2 20.7 26.1 34.8 88.6 20.3 -.1 1,080.8 72.8 21.1 26.9 34.1 87.2 19.8 -.9 1,125.5 145.1 41.9 151.2 42.6 153.3 42.8 151.1 43.7 151.1 70.6 20.7 27.7 36.3 96.7 22.0 -1.9 1,345.4 1,142.5 46.0 154.5 70.1 20.6 27.7 36.0 97.2 21.9 -3.0 1,393.0 1,188.9 47.2 159.0 72.5 20.9 29.1 36.0 99.2 22.1 -2.5 1,422.3 1,216.8 47.6 164.7 65.4 64.9 71.8 260.8 13.5 72.2 175.3 139.8 183.9 95.4 88.5 46.7 164.9 12.1 51.3 16.6 28.2 8.3 41.6 6.8 -1.0 67.7 67.0 77.6 280.4 14.8 79.7 186.1 138.6 193.5 100.2 93.3 50.1 168.3 11.8 50.8 17.3 29.9 8.4 43.1 7.0 -1.3 68.3 69.7 78.8 297.3 18.3 85.8 193.0 141.1 200.0 103.4 96.5 54.4 176.4 13.4 52.9 17.6 29.7 10.3 45.4 7.2 -1.1 78.9 72.3 84.4 326.3 21.4 99.0 205.7 144.8 222.7 117.0 105.7 57.5 190.1 14.1 58.9 18.6 31.7 10.5 49.3 7.1 -3.2 80.2 73.0 84.9 330.3 21.3 101.7 207.3 144.3 225.5 118.6 107.0 60.1 193.1 14.6 59.4 18.9 31.8 10.6 50.3 7.6 -3.2 79.6 71.4 79.2 339.6 22.8 110.5 207.3 160.7 227.3 121.0 106.4 68.1 193.8 14.5 58.2 19.0 32.3 11.4 51.0 7.5 78.7 72.3 80.6 347.5 20.7 117.7 211.7 170.4 235.7 122.3 113.4 70.7 199.4 15.4 62.5 19.0 32.0 12.3 50.9 7.4 -.8 80.7 73.7 85.3 370.5 21.0 130.8 223.0 173.4 240.8 129.1 111.9 72.2 203.7 16.2 63.1 19.3 31.5 12.5 53.6 7.6 -5.5 81.2 77.8 82.7 390.0 23.2 136.9 234.0 184.1 251.6 135.5 116.3 74.3 205.5 17.0 62.7 19.4 32.1 11.4 55.4 7.7 -5.9 85.2 -1.7 74.1 71.0 77.3 317.1 17.1 94.0 206.4 144.4 213.6 111.6 102.0 55.9 185.8 14.6 58.3 17.3 31.1 11.6 45.9 7.2 -2.2 613.0 798.4 61.3 641.3 835.1 62.0 662.4 870.1 884.5 64.2 661.5 915.1 61.4 647.6 941.6 58.7 652.7 953.3 66.3 677.9 987.7 58.8 666.7 1,018.2 671.1 1,054.4 568.8 618.4 708.1 722.8 751.9 674.0 702.9 724.7 731.0 56.4 134.7 48.1 86.6 218.6 27.2 33.3 158.5 62.5 65.3 33.2 32.1 32.0 55.5 141.1 51.0 90.1 253.3 30.8 43.7 178.7 65.0 70.1 35.7 34.3 33.5 55.6 55.1 153.2 55.6 97.6 311.1 40.0 57.4 213.8 73.4 76.8 39.4 37.4 38.2 151.5 56.5 95.1 324.5 51.1 59.9 212.7 72.5 78.7 40.2 38.4 40.9 56.7 153.0 58.2 94.8 341.7 49.9 68.0 55.0 147.8 53.5 94.2 289.3 38.3 52.2 198.9 70.0 75.1 38.0 37.0 36.9 54.0 153.3 55.7 97.6 307.7 39.7 57.4 210.8 72.7 77.1 39.9 37.2 38.0 54.0 155.4 56.0 99.4 324.6 41.4 61.1 222.4 75.7 77.1 40.1 37.1 38.1 59.5 156.3 57.0 99.3 268.2 274.9 15.6 18.9 72.6 22.1 26.5 32.5 79.5 19.5 -.2 1,034.7 72.0 20.7 27.0 33.0 83.8 19.7 -.5 869.8 37.3 130.2 17.1 Travel 64.9 18.9 26.8 31.0 64.5 19.7 69.4 20.9 26.4 36.0 91.4 20.8 .2 1,222.2 -1.2 20.4 26.1 32.5 72.4 20.0 .1 886.6 963.1 71.9 21.5 26.9 33.2 84.9 19.7 -.5 1,095.2 739.1 808.3 923.2 1,031.6 32.5 118.3 35.7 125.2 39.3 135.6 42.2 150.2 71.0 20.5 28.0 36.1 97.0 21.9 -1.8 1,365.4 1,162.5 46.1 157.3 Residual 58.9 59.3 67.6 194.0 11.2 48.3 134.5 124.6 160.6 83.8 76.8 43.2 147.7 10.0 46.3 14.9 27.8 7.1 35.2 6.5 -1.9 63.1 62.1 72.7 228.1 12.7 61.5 153.9 128.9 172.1 90.4 81.7 45.6 154.8 11.0 48.0 15.8 27.4 7.8 38.0 6.7 .1 67.6 76.1 286.0 16.0 81.2 188.9 139.5 196.3 101.7 94.6 51.5 172.1 12.8 52.2 17.1 29.6 9.2 44.2 7.0 -1.3 78.2 71.9 81.4 328.3 20.7 101.3 206.7 148.6 222.3 117.1 105.3 60.4 190.7 14.4 58.7 18.5 31.7 11.0 49.1 7.3 -2.3 81.4 75.8 81.3 378.7 21.7 131.2 229.5 178.3 247.8 131.7 116.2 73.1 203.9 16.2 63.3 19.5 31.9 12.0 53.6 7.6 -5.0 Addenda: Exports of agricultural goods 2 Exports of nonagricultural goods Imports of nonpetroleum goods 62.9 506.3 671.7 61.5 556.9 735.6 62.6 645.4 847.0 62.6 659.9 949.4 688.1 1,078.3 63.3 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line following the detail for exports is the difference between the aggregate "exports of goods and services" and the sum of the detailed lines for exports of goods and exports of services. The residual line following the detail for imports is the difference between the aggregate "imports of goods and services" and the sum of 725.9 1,004.5 282.0 Direct defense expenditures Travel Passenger fares Other transportation Royalties and license fees Other private services Other 1,078.2 1,008.4 17.1 Imports of services 1,052.6 1,004.2 275.2 1 1,024.3 977.6 14.6 Foods, feeds, and beverages Industrial supplies and materials, except petroleum and products. Durable goods Nondurable goods Petroleum and products Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other IV 1,014.3 942.1 255.8 Imports of goods' III 1,028.7 1,042.3 224.9 73.7 80.4 41.4 39.0 46.8 290.9 16.2 I 990.6 1,004.6 70.5 68.9 76.1 305.5 17.4 87.1 201.1 138.6 207.7 107.6 100.1 54.7 178.7 13.9 53.9 17.0 30.6 9.9 46.5 7.1 III IV 994.5 709.3 983.1 13.7 Imports of goods and services I 874.2 239.5 Residual 1999 IV 808.2 Transfers under U.S. military agency sales contracts. Passenger fares Other transportation Royalties and license fees Other private services Other 1997 1999 329.6 53.2 62.6 62.7 1,102.9 79.4 76.6 406.9 22.0 139.3 249.4 185.2 263.1 140.0 123.3 75.1 207.2 16.4 64.8 20.4 31.9 11.7 54.4 7.6 -8.0 65.2 717.9 1,137.8 the detailed lines for imports of goods and imports of services, Chain-type quantity indexes for the series in this table are shown in table 7.10. Contributions to the percent change in real exports and in real imports of goods and services are shown in table 8.5. see footnotes to table 4 3 72 • April 2000 SURVEY OF CURRENT BUSINESS Table 4.5B.—Relation of Foreign Transactions in the National Income and Product Accounts (NIPA's) to the Corresponding Items in the International Transactions Accounts (ITA's) [Billions of dollars] Line 1995 1996 1997 1998 670.2 5.5 0 13.3 618.4 679.7 5.7 0 15.0 689.0 14.5 237.7 .4 0 .7 3.7 15.5 258.8 .3 0 .5 3.7 17.3 263.7 .2 0 .6 3.8 18.5 234.7 255.8 279.0 285.1 212.2 0 16.6 3.4 232.3 224.6 0 17.5 3.4 245.6 258.7 0 19.5 4.5 282.6 258.3 0 22.0 5.0 285.3 Imports of goods, ITA's Less: Gold, ITA's > Statistical differences2 Plus: Gold, NIPA's» Adjustment for U.S. territories and Puerto Rico 3 Equals: Imports of goods, NIPA's 749.6 5.3 0 -0.6 17.0 757.6 803.3 7.7 0 -3.8 16.6 808.3 876.4 6.6 0 -0.6 18.9 885.1 917.2 6.5 0 -3.1 22.8 930.4 Imports of services, ITA's Less: Statistical differences2 ; Plus: Adjustment for U.S. territories and Puerto Rico 3 Equals: Imports of services, NIPA's ... 141.4 0 3.7 145.2 150.8 0 4.0 154.8 166.9 0 4.3 171.2 181.0 0 4.5 185.5 Income payments, ITA's Less: Statistical differences2 Plus: Adjustment for U.S. territories and Puerto Rico 3 Imputed interest paid to the rest of the world Adjustment for grossing of parent/affiliate transactions 6 . Equals: Income payments, NIPA's 192.8 0 1.2 14.5 3.4 211.9 207.4 0 1.2 15.5 3.4 227.5 255.4 0 1.1 17.3 4.5 278.4 270.5 0 1.2 Balance on goods and services and income, ITA's (1+6+13-18-24-28) Less: Gold (2-19+21) Statistical differences (3+8+14-20-25-29) Other items (7+9) Plus: Adjustment for U.S. territories and Puerto Rico (4+10+15-22-26-30) Equals: Net exports of goods and services and net receipts of income, NIPA's (5+12+17-23-27-33). -78.1 -3.8 0 1.0 -87.1 -101.5 -4.4 0 .8 Exports of goods, ITA's Less: Gold, ITA's» Statistical differences2 Plus: Adjustment for U.S. territories and Puerto Rico 3 Equals: Exports of goods, NIPA's 575.8 5.1 0 13.1 583.8 612.1 Exports of services, ITA's Less: Transfers of goods and services under military grant programs, net 4 Statistical differences2 Other items 5 Plus: Adjustment for U.S. territories and Puerto Rico 3 Services furnished without payment by financial intermediaries except life insurance carriers. Equals: Exports of services, NIPA's 217.6 .3 0 .7 Income receipts, ITA's Less: Statistical differences2 Plus: Adjustment for U.S. territories and Puerto Rico 3 Adjustment for grossing of parent/affiliate transactions6 Equals: Income receipts, NIPA's Unilateral current transfers, net, ITA's Less: Transfers of goods and services under military grant programs, net 4 Statistical differences2 Plus: Adjustment for U.S. territories and Puerto Rico 3 Equals: Transfer payments to the rest of the world, net, NIPA's Balance on current account, ITA's (34-40) Less: Gold (35) Statistical differences (36-42) Other items (37-41) Plus: Adjustment for U.S. territories and Puerto Rico (38-43) Equals: Net foreign investment, NIPA's (39-44) 3.6 6.9 0 16.5 681.3 18.5 5.0 295.2 11.4 -63.9 -70.9 13.8 -84.1 -176.5 -4.1 0 .8 13.8 -159.5 35.4 .3 1.4 .2 34.0 42.2 .4 2.2 .3 39.8 42.0 .3 2.4 .3 39.6 44.1 .2 2.2 .3 42.0 -113.6 -3.8 -129.3 -4.6 -2.2 .7 12.5 -110.7 -143.5 -4.4 -2.4 .5 -220.6 -4.1 -2.2 .6 13.4 -201.5 -1.4 .7 11.2 -98.0 -4.6 0 1.1 12.7 13.5 -123.7 1. Exports and imports of gold in the NIPA's differ from those in the ITA's. ITA gold exports (line 2) and imports (line 19) are excluded from the NIPA's; imports of gold in the NIPA's (line 21) is the excess of the value of gold in gross domestic purchases over the value of U.S. production of gold. 2. Consists of statistical revisions to the ITA's that have not yet been incorporated into the NIPA's and statistical revisions to the NIPA's that have not yet been incorporated into the ITA's. 3. Consists of transactions between the United States and its territories, Puerto Rico, and the Northern Mariana Islands. The treatment of U.S. territories, Puerto Rico, and the Northern Mariana Islands in the NIPA's differs from that in the ITA's. In the NIPA's, they are included in the rest of the world; in the ITA's, they are treated as part of the United States. The adjustment to unilateral current transfers, net (line 43) consists only of transfer payments from persons, because transfer payments, subsidies, and grantsin-aid from the Federal Government to residents of U.S. territories, Puerto Rico, and the Northern Mariana Islands are excluded from NIPA transfer payments to the rest of the world. 4. Transfers of goods and services under military grant programs, net, are classified as exports and as unilateral current transfers in the ITA's. In the NIPA's, these transactions are excluded from exports and from transfer payments and are included in Federal Government consumption expenditures. Beginning with 1988, the ITA's classify certain items as military grants that the NIPA's do not. 5. Beginning with 1988, the ITA's classify certain items as military grants that the NIPA's do not. In the NIPA's these transactions are excluded from exports and included in transfer payments from government. 6. In the ITA's, income transactions between parents and affiliates are recorded on a net basis. In ITA exports, U.S. parents' receipts from foreign affiliates for interest are net of such payments by U.S. parents to foreign affiliates. In ITA imports, U.S. affiliates' payments to foreign parents for interest are net of such receipts by U.S. affiliates from foreign parents. In the NIPA's, these transactions are recorded on a gross basis. The amount of the adjustment is identical in payments and in income receipts and, thus, does not affect NIPA net income receipts or net foreign investment. April 2000 • SURVEY OF CURRENT BUSINESS 73 5. Saving and InvestmentTable 5.1.—Cross Saving and Investment [Billions of dollars] Seasonally adjusted at annual rates 1999 1995 1996 1997 1,257.5 1,349.3 1,521.3 1,646.0 1,727.1 1,440.9 1,522.4 1,548.2 1,573.7 1,623.1 1,611.4 1,664.1 1,685.4 1,727.8 1,709.5 1,735.6 1,735.8 Gross private saving Personal saving Undistributed corporate profits with inventory valuation and capital consumption adjustments. Undistributed profits Inventory valuation adjustment Capital consumption adjustment Corporate consumption of fixed capital Noncorporate consumption of fixed capital Wage accruals less disbursements 1,266.0 302.4 203.6 1,290.4 272.1 232.7 1,362.0 271.1 1,371.2 1,364.7 156.3 268.6 1,324.3 263.4 254.9 1,382.0 296.1 268.3 1,364.1 255.5 277.7 1,377.7 1,352.2 217.5 261.0 1,382.3 227.5 251.2 1,389.4 195.1 282.5 1,359.3 168.0 264.5 1,355.7 269.3 265.4 1,382.5 248.9 272.0 1,367.7 229.7 259.6 1,354.3 122.8 270.1 203.3 -18.3 18.6 512.1 231.5 16.4 205.0 3.1 24.6 543.5 238.5 3.6 223.9 7.4 193.1 20.9 45.6 616.9 261.5 3.5 224.4 -13.0 57.2 661.1 278.6 0 213.8 9.3 31.8 564.8 245.4 -4.1 222.7 11.2 34.3 573.9 248.0 -4.1 236.5 4.9 202.5 29.5 40.1 602.0 256.0 3.5 203.6 13.6 43.8 611.1 259.1 3.5 187.4 19.8 -4.1 222.6 4.0 38.8 592.8 254.3 -4.1 46.9 622.0 263.3 3.5 178.8 20.8 51.6 632.4 267.7 3.5 213.7 13.3 55.5 640.9 271.0 0 219.9 -13.6 58.2 652.2 274.6 0 227.0 -26.7 57.0 671.6 287.2 0 Gross government saving Federal Consumption of fixed capital Current surplus or deficit (-), national income and product accounts. State and local Consumption of fixed capital Current surplus or deficit (-), national income and product accounts. -8.5 -108.0 84.0 159.3 37.7 86.6 274.8 134.3 87.4 46.9 362.5 206.3 90.9 115.4 116.6 196.0 70.3 87.1 -16.8 240.7 111.9 87.0 24.9 296.4 86.4 -63.2 184.0 58.7 86.6 -27.9 259.2 -1.3 86.1 -87.4 140.4 23.2 -192.0 58.9 -51.5 85.3 -136.8 130.5 87.0 43.5 147.1 87.5 59.6 303.0 147.8 88.1 59.7 1812 89.6 97.6 350.2 208.3 90.2 118.1 379.9 225.1 91.2 133.8 381.4 204.6 92.4 112.2 99.4 84.1 15.3 110.4 88.9 21.4 121.5 94.0 27.5 140.5 98.8 41.7 156.2 105.2 51.0 117.9 92.0 25.9 117.2 93.5 23.7 125.3 94.4 30.9 125.6 95.9 29.7 128.8 96.8 32.0 128.7 97.8 30.9 149.3 99.4 49.9 155.2 101.1 54.2 151.1 102.4 48.7 141.9 104.3 37.6 154.8 106.0 48.9 176.9 108.1 1,284.0 1,382.1 1,518.1 1,598.4 1,602.0 1,461.8 1,546.3 1,530.7 1,533.7 1,624.6 1,569.9 1,576.2 1,623.0 1,628.4 1,574.0 1,594.4 1,611.3 1,143.8 238.2 -98.0 1,242.7 250.1 -110.7 1,383.7 258.1 -123.7 1,531.2 268.7 -201.5 1,622.7 297.8 -318.5 1,327.0 252.1 -117.3 1,392.2 1,419.6 261.0 -146.9 1,514.3 262.4 -152.1 1,495.0 266.3 -191.4 1,535.3 273.5 -232.6 1,580.3 272.6 -229.9 1,594.3 289.8 -255.7 1,585.4 292.2 -303.7 1,635.0 -103.7 1,395.9 261.5 -126.7 295.7 -336.3 1,675.8 313.7 -378.2 26.5 32.8 -3.2 -47.6 -125.1 20.9 23.9 -17.5 -40.0 1.4 -41.5 -87.9 -62.4 -99.4 -135.5 -141.2 -124.5 16.9 17.2 18.3 18.8 18.7 17.7 18.4 18.5 18.6 18.8 18.6 19.0 18.9 19.1 18.7 18.7 18.3 Line 1997 1998 IV I Gross saving Gross investment Gross private domestic investment Gross government investment Net foreign investment Statistical discrepancy Addendum: Gross saving as a percentage of gross national product. 35.3 578.8 249.8 -4.1 257.9 36.2 583.6 251.5 224.8 254.1 139.5 257.4 237.1 -24.9 58.0 679.7 281.6 0 Table 5.3.—Real Gross and Net Investment by Major Type Table 5.2.—Gross and Net Investment by Major Type [Billions of chained (1996) dollars] [Billions of dollars] 1995 1996 1997 1995 1996 1997 1998 1,143.8 743.6 400.1 1,242.7 781.9 460.8 1,383.7 828.5 555.1 1,531.2 878.4 652.8 Gross private domestic investment Less: Consumption of fixed capital Equals: Net private domestic investment 1,140.6 1,242.7 781.9 460.8 1,385.8 830.0 555.8 1,547.4 1,110.7 1,212.7 781.9 430.8 1,315.4 828.5 486.8 1,460.0 Fixed investment Less: Consumption of fixed capital Equals: Net fixed investment 1,109.2 743.6 367.1 742.6 366.5 1,212.7 781.9 430.8 1,316.0 830.0 486.0 1,471.8 887.5 584.4 825.1 621.9 203.1 899.4 656.3 243.1 986.1 696.1 290.1 1,091.3 740.0 351.3 817.5 618.4 199.1 899.4 656.3 243.1 995.7 701.3 294.4 1,122.5 755.7 366.8 Structures Less: Consumption of fixed capital Equals: Net structures 204.6 135.2 69.4 225.0 140.3 84.6 254.1 148.2 105.9 272.8 155.2 117.6 Structures Less: Consumption of fixed capital .. Equals: Net structures 210.1 139.0 71.1 225.0 140.3 84.6 244.0 143.0 101.0 254.1 146.1 108.0 Equipment and software Less: Consumption of fixed capital Equals: Net equipment and softwan 620.5 674.4 516.0 158.5 732.1 547.9 184.1 818.5 584.8 233.7 Equipment and software Less: Consumption of fixed capital .. Equals: Net equipment and software 607.6 479.5 128.0 674.4 516.0 158.5 751.9 486.8 133.7 558.5 193.4 870.6 610.4 260.2 Residential Less: Consumption of fixed capital .... Equals: Net residential 285.6 121.7 164.0 313.3 125.6 187.7 329.2 132.5 196.7 368.7 291.7 124.3 167.4 313.3 125.6 187.7 320.6 128.8 191.8 350.2 132.1 218.0 Line Gross private domestic investment Less: Consumption of fixed capital Equals: Net private domestic investment.... Fixed investment Less: Consumption of fixed capital Equals: Net fixed investment Nonresidential Less: Consumption of fixed capital .... Equals: Net nonresidential Line 878.4 581.6 138.4 230.3 33.0 30.0 68.3 71.2 238.2 168.1 70.0 -1.7 -9.9 8.2 71.7 250.1 174.3 75.9 1.0 -8.4 9.4 74.9 258.1 180.5 77.6 -5.8 -14.6 8.9 83.4 268.7 Structures Less: Consumption of fixed capital Equals: Net structures Federal National defense Nondefense State and local 134.4 140.3 71.9 68.4 3.3 -1.8 5.1 65.2 148.3 75.6 72.7 .3 -3.0 3.4 72.3 151.9 78.9 73.0 Equipment and software Less: Consumption of fixed capital Equals: Net equipment and software Federal ...: National defense Nondefense State and local 103.8 109.8 102.4 7.4 -2.3 109.8 104.9 116.8 107.3 9.5 -3.3 -9.4 6.1 12.8 Change in private inventories Gross government investment' Less: Consumption of fixed capital Equals: Net government investment Federal National defense Nondefense State and local 68.5 65.9 3.0 -2.0 5.1 99.6 4.2 -4.7 -7.9 3.1 8.9 -6.6 4.3 9.7 4.9 -€.1 -11.6 5.5 11.0 186.2 82.5 -2.2 -12.9 10.7 84.7 1.1 -3.5 4.6 71.9 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; change in inventories is included in government consumption expenditures. nonresioeniiai Less: Consumption of fixed capital Equals: Net nonresidential Residential Less: Consumption of fixed capital Equals: Net residential 742.6 398.0 887.5 659.9 30.4 30.0 69.1 74.3 240.8 169.7 71.2 -2.0 -10.2 8.1 73.2 250.1 174.3 75.9 1.0 -8.4 256.3 179.5 76.8 -4.9 -13.9 9.0 81.6 266.4 185.4 81.0 -.8 -11.8 11.0 81.8 Structures Less: Consumption of fixed capital Equals: Net structures Federal National defense Nondefense State and local 138.5 140.3 71.9 68.4 3.3 -1.8 5.1 65.2 143.4 73.2 70.2 .3 143.1 74.4 68.7 -2.9 3.3 69.9 1.0 -3.3 4.3 67.7 Equipment and software Less: Consumption of fixed capital Equals: Net equipment and software Federal National defense Nondefense State and local 102.4 99.1 3.3 -5.1 -8.1 2.9 109.8 102.4 7.4 -2.3 -€.6 4.3 8.5 9.7 112.9 106.3 6.5 -5.2 -11.0 5.8 11.7 123.8 111.0 12.8 -1.8 -8.5 6.7 14.5 Change in private inventories Gross government investment' Less: Consumption of fixed capital Equals: Net government investment Federal National defense Nondefense State and local 70.6 67.9 3.1 -2.1 5.2 64.8 9.4 74.9 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; change in inventories is included in government consumption expenditures. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. Chain-type quantity indexes for the series in this table are shown in table 7.19. 74 • April 2000 SURVEY OF CURRENT BUSINESS Table 5.4.—Private Fixed Investment by Type [Billions of dollars] Seasonally adjusted at annual rates Line Private fixed investment Nonresidential 1995 1996 1,110.7 1,212.7 1998 1,315.4 825.1 1997 1999 1,460.0 1,578.0 1,274.1 1,299.6 1,338.3 1,349.4 1,415.4 1,454.2 1,461.7 1,508.9 1,543.3 1,567.8 1,594.2 1,606.8 1,091.3 1,166.7 952.7 972.7 1,007.7 1,011.4 1,065.9 1,090.8 1,087.2 1,121.4 1,139.9 1,155.4 1,181.6 1,190.0 Structures Nonresidential buildings, including farm Utilities Mining exploration, shafts, and wells Other structures 204.6 144.3 35.8 17.2 7.3 225.0 161.7 36.0 21.1 6.2 254.1 180.9 36.5 30.0 6.7 272.8 197.0 39.2 30.0 6.5 273.4 199.9 39.5 27.1 6.9 247.6 178.2 35.5 28.2 5.6 247.8 175.8 36.2 30.2 5.6 257.8 185.2 37.0 29.5 6.1 263.1 184.4 37.2 32.2 9.3 267.4 191.0 38.7 31.3 6.4 274.0 196.1 38.9 32.1 6.9 271.7 197.5 39.2 28.8 6.3 278.0 203.3 40.1 28.0 6.6 274.7 204.0 39.2 25.2 6.4 272.5 199.8 39.1 26.0 7.6 272.1 197.5 39.9 28.0 6.8 274.1 198.2 39.6 29.4 6.8 Equipment and software Information processing equipment and software. Computers and peripheral equipment' Software2 Other Industrial equipment Transportation equipment Other 620.5 262.0 674.4 287.3 732.1 315.4 818.5 356.9 406.9 705.2 303.1 724.9 309.9 749.9 322.7 748.3 325.9 798.4 343.4 816.8 353.3 815.4 361.0 843.4 369.7 865.2 382.3 882.9 401.7 909.5 416.8 916.0 426.8 64.6 83.5 113.8 128.7 126.1 103.7 70.9 95.1 121.3 136.4 138.9 111.8 76.7 106.6 132.1 142.3 150.9 123.5 88.5 123.4 144.9 150.2 176.0 135.5 97.8 143.5 165.6 152.0 197.1 137.3 73.8 102.2 127.1 136.4 146.0 119.7 75.7 105.0 129.2 141.9 150.2 122.9 79.0 108.0 135.7 144.3 156.9 126.0 78.4 111.2 136.2 146.6 150.3 125.6 85.9 1158 141.8 148.6 174.7 131.7 88.6 120.7 144.1 149.7 177.2 136.5 89.1 126.2 145.8 150.9 164.9 138.6 90.5 131.2 148.0 151.4 187.0 135.3 92.3 135.5 154.5 147.9 193.1 142.0 96.4 140.7 164.6 149.3 193.6 138.3 100.8 145.8 170.2 153.0 204.9 134.7 101.6 152.0 173.2 157.9 196.9 134.3 313.3 329.2 368.7 411.3 321.4 326.8 330.7 338.0 349.5 363.4 374.5 387.5 403.4 412.4 412.7 416.7 278.3 145.0 17.9 115.4 305.6 159.1 20.3 126.2 321.3 164.4 22.9 134.0 360.4 189.5 24.5 146.5 402.4 213.9 27.7 160.8 313.5 161.1 22.0 130.4 319.0 163.5 22.9 132.6 322.7 164.5 22.4 135.9 330.1 168.7 24.2 137.2 341.3 176.1 25.0 140.2 355.1 185.5 23.9 145.8 366.1 194.0 24.1 148.0 379.1 202.2 24.8 152.1 394.6 211.8 27.7 155.1 403.6 213.7 27.5 162.4 403.6 211.7 27.8 164.1 407.7 218.3 27.6 161.8 7.3 7.7 7.9 8.3 8.9 7.9 7.8 7.9 7.9 8.2 8.3 8.4 8.5 8.7 8.9 9.0 9.1 Residential Structures Single family Multifamily Other structures '. Equipment 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment. Table 5.5.—Real Private Fixed Investment by Type [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line Private fixed investment Nonresidential 1997 1995 1996 1997 1,109.2 1,212.7 1,316.0 1,471.8 1,590.5 1,274.1 995.7 1,122.5 1,215.8 957.9 817.5 1,300.6 1998 1,337.9 1,351.3 1,018.0 1,026.1 1,424.2 1999 1,466.7 1,474.0 1,522.5 1,555.9 1,581.0 1,607.3 1,617.8 1,120.2 1,120.3 1,160.8 1,182.7 1,202.9 1,234.3 1,243.2 Structures Nonresidential buildings, including farm Utilities Mining exploration, shafts, and wells Other structures 210.1 147.6 36.8 18.2 7.5 225.0 161.7 36.0 21.1 6.2 244.0 175.3 35.7 26.4 6.5 254.1 184.6 38.0 25.4 6.2 248.1 180.4 38.2 23.4 6.4 242.0 175.1 35.1 26.2 5.5 239.5 171.4 35.4 26.9 5.5 245.9 178.5 36.0 25.4 5.9 248.6 176.1 36.2 27.1 9.0 252.1 181.7 37.6 26.5 6.1 256.4 184.9 37.7 27.1 6.6 252.1 184.2 37.9 24.2 5.9 255.7 187.4 38.7 23.6 6.2 251.9 186.6 38.1 21.6 6.0 248.5 181.2 38.0 22.6 7.1 246.1 177.2 38.5 24.3 6.3 245.8 176.5 38.0 25.3 6.2 Equipment and software Information processing equipment and software. Computers and peripheral equipment Software2 Other Industrial equipment Transportation equipment Other 607.6 242.8 674.4 287.3 751.9 339.4 870.6 418.5 974.9 509.8 715.8 316.9 741.5 330.0 772.3 350.2 777.8 360.4 837.9 388.8 865.5 409.4 870.6 427.4 908.5 448.5 935.7 470.4 960.9 501.0 996.6 526.0 1,006.4 541.7 49.2 82.0 113.1 131.3 128.2 106.2 70.9 95.1 121.3 136.4 138.9 111.8 109.4 132.7 141.3 149.6 122.2 154.2 129.2 147.1 148.1 175.3 132.3 220.8 149.3 169.9 149.0 195.7 132.6 85.8 104.0 127.6 135.6 144.9 118.6 94.2 107.1 129.9 141.1 149.1 121.6 105.1 111.1 136.2 143.2 155.0 124.7 110.9 115.3 137.1 145.1 149.6 124.0 131.3 120.9 143.1 147.0 174.2 129.4 146.9 126.2 146.3 147.9 177.0 133.8 160.4 131.9 148.3 148.7 164.2 135.1 178.3 137.8 150.9 148.9 185.8 131.0 193.4 141.6 157.8 145.0 190.8 137.0 212.9 147.0 168.4 146.6 191.6 133.3 233.5 152.0 174.7 150.0 204.0 130.1 243.3 156.6 178.6 154.3 196.4 129.9 291.7 313.3 320.6 350.2 376.1 316.3 320.0 320.5 325.7 336.5 347.4 354.2 362.6 373.7 378.8 375.1 376.8 284.4 147.7 18.4 118.3 305.6 159.1 20.3 126.2 312.7 159.8 21.9 131.0 341.8 180.3 21.8 139.8 367.0 195.0 22.9 149.2 308.5 158.2 21.6 128.7 312.2 159.8 22.2 130.2 312.5 159.0 21.2 132.3 317.7 162.1 22.6 132.9 328.4 170.1 23.1 135.1 339.0 177.8 21.6 139.7 345.8 184.0 21.2 140.7 354.0 189.3 21.1 143.7 364.8 195.8 23.3 145.7 369.7 195.8 22.9 151.1 365.9 191.7 22.9 151.5 367.5 196.5 22.6 148.4 7.4 7.7 7.9 8.4 9.1 -2.7 0 -2.7 -18.9 Residential Structures Single family Multifamily Other structures Equipment Residual 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity 7.8 7.8 7.9 8.0 8.2 8.4 8.4 8.5 8.9 9.1 9.2 9.3 -.6 -1.6 -3.6 -4.7 -10.1 -15.2 -21.1 -28.7 -35.7 -46.6 -58.6 -64.1 indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. Chain-type quantity indexes for the series in this table are shown in table 7.6. Contributions to the percent change in real private fixed investment are shown in table 8.4. Table 5.7.—Real Private Fixed Investment in Structures by Type Table 5.6.—Private Fixed Investment in Structures by Type [Billions of chained (1996) dollars] [Billions of dollars] Line 1995 1996 1997 1998 482.9 530.6 575.4 633.2 204.6 225.0 254.1 272.8 204.3 224.6 252.9 272.6 141.3 32.5 70.8 29.8 41.0 4.2 6.2 12.5 15.1 158.0 32.7 78.7 32.4 46.3 4.4 7.7 13.1 21.4 177.1 31.4 89.7 39.9 49.8 5.6 9.8 15.1 25.5 193.1 32.3 100.0 48.3 51.7 6.5 10.8 15.2 28.2 Utilities Railroads Telecommunications Electric light and power Gas Petroleum pipelines 35.8 3.5 11.0 14.1 6.2 .9 36.0 4.4 11.7 11.3 7.6 1.0 36.5 4.9 12.6 11.3 6.6 1.0 39.2 5.3 14.3 11.7 6.6 1.3 Utilities Railroads Telecommunications Electric light and power Farm Mining exploration, shafts, and wells Petroleum and natural gas Other Other 4 3.0 17.2 15.8 1.4 6.9 3.7 21.1 19.4 1.7 5.8 3.8 30.0 28.3 1.7 5.5 3.9 30.0 28.0 2.0 6.4 Farm Mining exploration, shafts, and wells Petroleum and natural gas Other Other 4 1.6 -1.3 1.8 -1.4 2.0 -.8 2.2 -2.0 Line Private fixed investment in structures Nonresidential New Nonresidential buildings, excluding farm Industrial Commercial Office buildings1 Other 2 Religious Educational Hospital and institutional Other 3 Brokers' commissions on sale of structures Net purchases of used structures Residential New New housing units Permanent site Single-family structures Multifamily structures Manufactured homes Improvements Other 5 Brokers' commissions on sale of structures Net purchases of used structures 278.3 305.6 321.3 360.4 246.6 269.8 282.1 314.4 174.3 162.9 145.0 17.9 11.4 71.8 .5 192.2 179.4 159.1 20.3 12.8 77.0 200.8 187.3 164.4 22.9 13.5 80.5 .8 229.1 213.9 189.5 24.5 15.2 84.4 33.0 -1.3 37.5 -1.7 41.7 -2.5 49.0 -3.0 1. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities for their own use. 2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other buildings used for commercial purposes. 3. Consists of hotels and motels, buildings used primarily for social and recreational activities, and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals. 4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields. 5. Consists primarily of dormitories and of fraternity and sorority houses. 75 April 2000 SURVEY OF CURRENT BUSINESS Private fixed investment in structures Nonresidential New Nonresidential buildings, excluding farm Industrial Commercial Office buildings > Other 2 Religious Educational Hospital and institutional Other 3 Gas Petroleum pipelines Brokers' commissions on sale of structures Net purchases of used structures Residential New New housing units Permanent site Single-family structures Multifamily structures Manufactured homes Improvements Other 5 Brokers' commissions on sale of structures Net purchases of used structures Residual .>. 1995 1996 1997 494.5 530.6 556.8 595.8 210.1 225.0 244.0 254.1 209.7 224.6 242.8 253.9 144.5 33.2 72.4 30.5 41.9 4.3 6.4 12.8 15.4 158.0 32.7 78.7 32.4 46.3 4.4 7.7 13.1 21.4 171.6 30.4 86.9 38.7 48.2 5.4 9.5 14.6 24.7 180.9 30.2 93.8 45.3 48.5 6.1 10.2 14.3 26.4 36.8 3.7 11.6 14.3 6.3 .9 36.0 4.4 11.7 11.3 7.6 1.0 35.7 4.8 12.4 11.1 6.5 .9 38.0 5.1 14.1 11.2 6.3 1.2 3.1 18.2 16.8 1.4 7.1 3.7 21.1 19.4 1.7 5.8 3.7 26.4 24.7 1.6 5.3 3.6 25.4 23.5 1.9 6.0 1.7 -1.3 1.8 -1.4 2.0 -.8 2.1 -1.9 284.4 305.6 312.7 341.8 252.0 269.8 273.8 297.5 177.8 166.1 147.7 18.4 11.8 73.7 .5 192.2 179.4 159.1 20.3 12.8 77.0 .6 194.9 181.7 159.8 21.9 13.3 78.1 216.7 202.0 180.3 21.8 14.7 79.9 .9 33.7 -1.3 37.5 -1.7 41.4 -2.4 47.3 -2.9 -.1 -.3 1. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities for their own use. 2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other buildings used for commercial purposes. 3. Consists of hotels and motels, buildings used primarily for social and recreational activities, and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals. 4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields. 5. Consists primarily of dormitories and of fraternity and sorority houses. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. Chain-type quantity indexes for the series in this table are shown in table 7.7. 76 • April 2000 SURVEY OF CURRENT BUSINESS Table 5.8.—Private Fixed Investment in Equipment and Software by Type [Billions of dollars] Private fixed investment in equipment and software Line 1995 1996 1997 1998 1 627.8 682.1 739.9 826.8 2 620.5 674.4 732.1 818.5 Information processing equipment and software Computers and peripheral equipment1 Software 2 Communication equipment Instruments Photocopy and related equipment Office and accounting equipment 3 4 5 6 7 8 9 262.0 64.6 83.5 60.0 31.3 15.0 287.3 70.9 95.1 65.6 33.3 14.7 315.4 76.7 106.6 73.0 35.0 15.8 356.9 88.5 123.4 83.6 36.3 15.2 7.5 7.8 8.3 9.8 Industrial equipment Fabricated metal products Engines and turbines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment Electrical transmission, distribution, and industrial apparatus 10 11 12 13 14 15 16 128.7 11.8 136.4 13.4 142.3 13.2 150.2 14.0 3.5 4.3 3.5 4.3 30.6 32.9 30.0 19.8 31.7 34.6 31.6 20.9 35.0 35.2 33.5 21.9 36.4 35.7 36.8 23.0 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 17 18 19 20 21 22 126.1 69.0 37.4 12.7 138.9 77.9 41.3 12.2 150.9 87.0 41.7 14.4 176.0 97.0 40.5 28.0 1.7 5.3 2.2 5.4 2.2 5.6 3.0 7.5 Other equipment Furniture and fixtures Tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical equipment, n.e.c Other 23 24 25 26 27 28 29 30 31 108.6 26.1 10.6 10.7 15.0 116.5 27.6 10.6 11.4 17.3 128.0 31.2 11.4 12.2 19.6 140.5 33.7 12.1 12.9 22.4 Less: Sale of equipment scrap, excluding autos 32 33 Nonresidential equipment and software Residential equipment Addenda: Private fixed investment in equipment and software Less: Dealers' margin on used equipment Net purchases of used equipment from government Plus: Net sales of used equipment Net exports of used equipment Sale of equipment scrap Equals: Private fixed investment in new equipment and software 2.6 2.8 3.1 4.6 13.5 20.3 14.2 10.6 21.9 14.4 11.6 24.5 15.7 12.8 26.2 5.0 4.6 4.5 4.9 7.3 7.7 7.9 8.3 9.8 [Billions of chained (1996) dollars] Line 1995 1996 1997 1998 614.9 682.1 759.7 879.0 607.6 674.4 751.9 870.6 Information processing equipment and software Computers and peripheral equipment1 Software 2 Communication equipment Instruments Photocopy and related equipment Office and accounting equipment 242.8 49.2 82.0 58.5 31.8 15.4 7.4 287.3 70.9 95.1 65.6 33.3 14.7 7.8 339.4 99.0 109.4 73.8 34.8 15.7 8.4 418.5 154.2 129.2 85.9 36.1 15.4 9.8 Industrial equipment Fabricated metal products Engines and turbines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment Electrical transmission, distribution, and industrial apparatus 131.3 12.2 3.6 31.3 33.7 30.5 20.0 136.4 13.4 4.3 31.7 34.6 31.6 20.9 141.3 13.1 3.5 34.9 34.9 33.1 21.9 148.1 13.9 4.2 36.0 35.0 36.1 23.0 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 128.2 69.5 38.4 13.1 1.8 5.4 138.9 77.9 41.3 12.2 2.2 5.4 149.6 87.4 40.2 14.2 2.2 5.7 175.3 98.5 39.0 27.5 2.9 7.6 Other equipment Furniture and fixtures Tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical equipment, n.e.c Other 110.7 26.7 10.7 11.0 15.4 2.7 13.7 9.8 20.7 116.4 27.6 10.6 11.4 17.3 2.8 14.2 10.6 21.9 126.7 30.7 11.4 12.1 19.2 3.0 14.2 11.8 24.3 137.9 33.0 12.0 12.6 21.6 4.5 15.3 13.1 25.8 4.5 4.6 4.4 5.7 7.4 7.7 7.9 8.4 -2.5 -.3 -2.7 -15.9 Private fixed investment in equipment and software .. Nonresidential equipment and software Less: Sale of equipment scrap, excluding autos Residential equipment 34 35 36 37 38 39 40 627.8 682.1 739.9 826.8 6.5 .8 7.0 .8 7.4 .9 8.3 .9 37.8 38.4 38.9 40.7 .4 5.1 .4 4.7 .4 4.6 .7 5.0 663.7 717.7 775.7 864.2 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment, n.e.c. Not elsewhere classified. Table 5.9.—Real Private Fixed Investment In Equipment and Software by Type Residual 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines. Chain-type quantity indexes for the series in this table are shown in table 7.8. n.e.c. Not elsewhere classified. April 2000 • SURVEY OF CURRENT BUSINESS 77 Table 5.10.—Change in Private Inventories by Industry Group [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1999 1997 IV I Change in private inventories 33.0 Farm Nonfarm Change in book value ! Inventory valuation adjustment2 Manufacturing Durable goods Nondurable goods :... Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods , Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Motor vehicle dealers 3 Other 3 Nondurable goods Other Durable goods Nondurable goods 30.0 7.9 68.3 71.2 44.6 .3 3.4 70.9 45.7 25.2 24.1 16.4 7.8 22.4 16.0 6.4 41.3 56.6 -15.3 -9.2 42.2 65.4 -23.2 14.2 11.0 3.2 14.1 13.2 .9 9.5 .6 3.1 4.2 2.8 65.6 54.4 11.1 22.0 14.1 7.9 24.0 15.0 -1.0 9.1 11.2 11.0 .3 2.9 2.3 .6 2.4 3.5 -1.1 .7 .7 .1 12.0 9.3 5.7 3.6 2.7 7.4 5.0 2.6 2.4 2.4 1.5 .4 1.1 21.5 13.4 8.1 2.6 1.6 1.0 10.7 5.9 4.2 1.7 4.9 8.8 .7 8.2 2.0 0 1.9 22.1 21.5 .7 10.1 52.9 -3.4 56.3 37.8 18.5 .4 0 .4 22.9 15.5 7.3 23.9 11.1 5.3 1.3 4.0 5.8 14.6 12.3 2.3 13.4 11.0 2.4 1.2 1.3 -.1 20.7 13.5 6.9 6.6 7.2 -2.7 -2.3 -2.2 -.2 -.4 13.2 1.3 12.0 5.6 -.1 5.6 12.3 .5 11.7 19.6 14.0 5.7 2.8 2.1 .7 14.3 9.6 21.4 13.1 8.4 2.5 1.2 1.3 1. This series is derived from the Census Bureau series "current cost inventories." 2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes, The IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) underlying inventories I IV I III 92.6 57.6 70.2 98.9 40.8 73.7 71.4 51.0 17.6 7.6 85.0 69.9 15.1 29.2 20.9 8.3 34.8 29.8 5.0 29.2 25.7 3.5 5.6 4.2 1.5 10.9 2.5 -1.5 4.0 8.3 10.2 .9 9.3 5.6 52.0 46.5 5.5 17.1 10.3 6.8 15.0 4.1 11.0 14.4 4.1 10.3 .7 0 .7 1.2 -2.0 100.9 62.8 38.2 36.9 24.7 12.2 27.8 24.6 3.2 25.1 21.9 3.2 2.7 2.7 -10.8 -1.1 74.7 49.7 25.0 21.2 12.8 8.4 32.3 18.2 14.1 15.2 56.2 33.7 22.5 10.1 40.9 22.8 18.2 0 4.8 .7 -2.2 12.8 32.1 40.1 73.7 -33.6 71.3 13.8 8.3 6.6 1.7 5.5 6.0 .9 5.1 69.0 63.6 5.4 18.7 9.5 9.2 22.4 11.7 10.7 21.0 10.9 10.1 1.4 .9 .6 21.0 14.9 13.7 1.2 6.1 6.9 .4 6.5 51.6 36.6 15.0 27.0 21.5 5.5 13.3 6.2 7.1 10.4 4.3 6.1 2.9 1.9 1.0 0 20.8 5.8 .6 5.2 15.0 15.4 1.3 14.1 -8.3 -7.3 -1.0 5.2 14.4 1.6 12.8 29.1 16.1 13.0 3.2 2.1 1.1 10.9 7.7 4.2 3.4 3.3 10.3 1.1 9.2 11.5 6.5 5.1 16.3 15.2 1.1 13.9 13.6 .2 2.4 1.6 .9 15.6 16.0 7.6 8.4 -.4 12.8 1.0 11.8 1.7 -1.7 8.8 11.3 -2.6 7.5 9.8 -2.3 1.3 1.5 -.2 17.5 9.4 3.1 6.3 8.1 14.7 1.7 13.0 -19.3 -7.8 -6.2 -1.6 10.7 10.5 .2 8.3 7.0 1.3 2.4 3.5 -1.1 5.9 4.0 0 4.0 1.9 4.0 -2.0 6.0 40.8 1.6 1.6 0 24.2 10.6 13.6 22.0 9.6 12.4 2.2 1.0 1.2 14.3 11.7 9.2 2.6 2.6 0 -1.0 1.0 97.9 -26.6 7.8 2.9 4.9 14.7 16.7 -2.0 15.8 17.7 -1.9 -1.1 -1.0 -.1 45.2 29.1 15.3 13.8 16.2 3.6 1.2 2.4 derived primarily from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived primarily from Internal Revenue Service statistics. 3. Inventories of auto and home supply stores are included in "other durable goods." Table 5.11.—Real Change in Private Inventories by Industry Group [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1997 1998 1998 I Change in private inventories Farm Nonfarm Manufacturing Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Motor vehicle dealers l Other 1 Nondurable goods Other Durable goods Nondurable goods Residual 30.4 -12.3 42.6 14.1 10.7 3.3 14.3 13.2 .9 11.5 11.0 .3 2.9 2.2 .6 12.2 9.4 5.8 3.6 2.8 2.0 0 2.0 30.0 7.9 22.1 10.1 9.5 .6 3.1 4.2 -1.0 2.4 3.5 -1.1 .7 .7 .1 7.4 5.0 2.6 2.4 2.4 1.5 .4 1.1 -.1 3.0 66.2 22.1 14.2 8.0 24.4 15.0 9.3 21.8 13.5 8.4 2.5 1.6 1.0 10.8 5.9 4.3 1.7 4.8 8.9 .7 8.3 -.4 I 74.3 42.2 51.5 93.1 .9 -.6 -5.1 7.4 73.2 25.1 16.9 8.1 23.4 16.3 7.1 20.4 14.2 6.2 3.0 2.1 .9 42.4 56.7 22.9 15.6 7.3 21.0 8.4 24.2 14.3 35.3 29.9 5.1 15.3 4.1 11.4 29.6 25.7 3.7 5.7 4.2 1.5 14.6 4.1 10.7 .7 0 .6 21.3 10.9 10.4 11.1 5.3 1.3 4.0 5.8 13.9 1.2 12.6 .1 20.5 13.6 6.9 6.6 7.0 5.9 0 10.8 2.5 -1.5 4.0 8.3 13.8 8.4 6.7 1.7 5.4 10.4 .9 9.5 0 .9 5.2 21.0 15.0 14.0 1.2 6.0 6.9 .4 6.5 -.3 .4 0 .4 15.2 12.8 2.4 14.0 11.5 2.5 1.3 1.3 -.1 5.9 .8 1. Inventories of auto and home supply stores are included in "other durable goods." NOTE.-Chained (1996) dollar series for real change in private inventories are calculated as the period-to-period change in chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at an- IV 9.9 21.8 13.1 8.7 2.4 1.2 1.2 -2.7 -2.3 -2.2 -.2 -.4 12.3 .5 11.8 0 IV II 72.7 107.3 43.1 76.1 70.7 50.1 14.0 38.0 6.5 3.1 -10.4 -5.8 52.6 69.7 43.1 19.0 13.1 -8.3 -6.6 -1.7 41.2 17.3 10.4 11.1 11.0 21.0 5.8 .6 5.1 15.1 -3.1 -8.4 -7.5 -1.0 5.2 16.1 1.3 15.0 1.6 13.4 -.1 12.8 58.2 12.0 6.8 5.3 17.2 15.5 1.4 14.6 13.9 .5 2.6 1.6 1.0 15.5 16.0 7.6 8.4 -.3 13.6 1.0 12.6 -.5 .9 29.4 -2.1 77.5 22.2 13.4 8.8 33.8 18.6 15.3 30.4 16.5 14.0 3.4 2.1 1.3 11.0 7.7 4.3 3.4 3.3 10.8 1.1 9.7 7.4 85.7 3.3 103.8 38.1 25.3 12.8 28.8 24.8 3.7 25.8 22.1 3.6 2.9 2.8 .1 25.1 11.1 14.0 22.8 10.0 12.8 2.3 1.1 1.2 14.1 11.8 9.3 2.5 2.5 .1 -1.0 1.1 .5 6.9 6.1 .1 9.7 9.3 22.7 11.8 10.9 1.4 .9 .6 14.8 .4 53.2 27.9 22.2 5.7 14.0 6.2 7.8 10.9 4.3 6.7 3.1 1.9 1.1 .3 0 1.8 -1.8 9.5 11.8 -2.4 8.2 10.2 -2.1 1.4 1.6 -.3 17.5 9.5 3.1 6.3 8.0 15.7 1.7 14.0 .2 .1 8.6 7.3 1.3 2.5 3.7 -1.2 5.9 4.0 0 4.0 1.9 4.1 -5.0 6.3 1.7 1.8 0 66.7 -6.7 72.3 8.2 3.0 5.1 15.0 17.3 -2.2 16.2 18.4 -2.1 -1.2 -1.1 -.1 44.4 29.1 15.3 13.7 15.6 3.6 1.1 2.4 2.1 nual rates. Because the formula for the chain-type quantity indexes uses weights of more than one period, the f ? r r e a s P ? f t c h a i ! 1 ? h d ^° l L a r t y ? " £ f i a r e u s u a l f y n o t a d d i t l v e - T h e r e s i d u a l l i n e i s t h e d i f f e r e n c e b e t w e e n t h e line a n d t h e s u m of t h e m o s t d e t a i l e d lines - first 78 • April 2000 SURVEY OF CURRENT BUSINESS Table 5.12.—Private Inventories and Domestic Final Sales of Business by Industry Group [Billions of dollars] Seasonally adjusted quarterly totals Line 1997 1996 I Private inventories' Farm Nonfarm Durable goods Nondurable goods Manufacturing Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Motor vehicle dealers 2 Other 2 Nondurable goods ; Other Durable goods Nondurable goods 3 Final sales of domestic business Final sales of goods and structures of domestic business3. IV IV IV III 1,223.0 1,235.6 1,247.5 1,251.5 1,262.4 1,279.2 1,294.4 1,307.5 1,321.8 1,322.4 1,326.6 95.8 1,127.2 625.3 502.0 424.9 260.6 164.3 305.4 190.7 114.8 263.3 165.5 97.8 42.1 25.1 17.0 309.2 167.8 84.9 82.9 141.4 87.8 6.2 81.5 531.8 292.8 104.1 1,131.5 629.3 502.2 423.3 260.5 162.8 306.2 191.0 115.2 264.2 165.9 98.3 42.0 25.1 16.9 313.8 171.9 88.1 83.8 141.9 88.1 5.9 82.3 541.7 298.8 107.7 1,139.8 638.3 501.5 425.9 262.4 163.5 305.3 193.4 111.9 262.8 168.0 94.7 42.5 25.4 17.1 320.3 176.3 91.9 84.4 144.0 88.3 6.1 82.2 545.5 300.4 103.4 1,148.1 638.6 509.6 428.9 263.5 165.4 305.2 192.8 112.4 262.4 167.6 94.8 42.7 25.2 17.6 322.0 176.1 91.2 84.8 145.9 92.1 6.2 85.9 556.3 305.5 106.5 1,155.9 646.0 509.9 432.8 267.4 165.3 310.0 196.1 113.9 267.2 170.7 96.5 42.8 25.4 17.4 321.7 176.0 90.5 85.5 145.7 91.5 6.4 85.1 565.5 311.2 107.9 1,171.3 658.0 513.3 437.8 271.8 166.0 317.3 203.9 113.4 273.4 177.4 96.0 43.8 26.5 17.3 323.0 175.7 89.2 86.5 147.3 93.3 6.6 86.6 572.4 313.3 109.0 1,185.3 661.9 523.4 441.4 273.5 167.9 322.0 204.5 117.5 277.9 178.1 99.8 44.2 26.4 17.7 326.4 177.1 90.4 86.6 149.3 95.5 6.9 88.7 583.1 319.9 107.2 1,200.3 669.5 530.8 445.4 275.3 170.1 326.7 206.7 120.0 282.5 180.1 102.3 44.2 26.5 17.7 331.2 180.6 93.6 87.0 150.7 97.0 6.9 90.1 588.5 321.5 108.0 1,213.7 680.0 533.7 448.7 278.6 170.0 330.6 212.0 118.7 100.6 1,221.8 682.1 539.7 452.0 282.2 169.8 332.0 212.6 119.4 286.6 184.9 101.8 44.0 27.1 16.9 336.4 182.2 93.8 88.4 154.2 98.0 7.2 90.8 598.0 329.0 287.5 185.1 102.3 44.5 27.5 17.1 335.9 179.6 91.8 87.9 156.2 101.9 7.6 94.2 607.7 333.1 92.3 1,234.3 689.1 545.2 453.9 282.8 171.0 338.1 216.0 122.1 293.0 188.2 104.9 45.0 27.9 17.2 339.4 182.3 93.6 88.6 157.1 103.0 7.9 95.1 613.2 335.3 2.30 2.12 3.85 2.28 2.09 3.79 2.29 2.09 3.79 2.25 2.06 3.76 2.23 2.04 3.71 2.23 2.05 3.74 222 2.03 3.71 2.22 2.04 3.73 2.21 2.03 2.18 2.01 3.67 2.16 2.01 3.68 1,334.5 1,345.7 92.4 8.1 97.6 624.7 344.0 99.3 1,246.4 692.8 553.5 448.2 279.2 169.0 340.9 217.9 123.1 295.4 189.9 105.4 45.5 27.9 17.6 347.3 187.1 95.3 91.8 160.2 109.9 8.6 101.3 634.8 350.1 2.14 1.99 3.61 2.12 1.96 3.56 1,242.1 694.0 548.1 450.5 280.3 170.2 341.8 218.9 122.9 296.6 190.8 105.8 45.3 28.1 17.1 344.0 186.6 95.8 90.9 157.4 105.7 1,360.1 1,386.1 1,410.3 98.9 96.7 1,261.3 1,289.4 697.8 563.5 581.4 451.1 279.4 171.6 458.3 282.5 175.8 345.1 220.9 124.3 355.6 298.2 307.0 194.9 112.1 48.6 18.1 19.5 351.1 189.2 95.8 93.4 161.9 358.1 113.9 117.3 8.3 105.7 7.9 109.4 642.6 353.6 651.8 357.8 95.8 1,314.5 723.1 591.5 464.7 284.8 179.9 361.6 229.2 132.5 312.7 200.2 112.5 48.9 29.0 19.9 370.0 200.9 103.4 97.5 169.1 118.2 8.2 109.9 665.4 365.1 2.12 1.96 3.57 2.13 1.98 3.60 2.12 1.98 3.60 192.0 106.2 46.9 28.8 707.9 224.1 131.6 29.2 193.5 99.6 93.8 164.7 Ratio of private inventories to final sales of domestic business Private inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures 1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current-dollar change in the private inventories component of GDP. The former is the difference between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at quarterly rates, whereas, the change in private inventories is stated at annual rates. 2. Inventories of auto and home supply stores are included in "other durable goods." 3. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product of households and institutions and of general government, and it includes a small amount of final sales by farm and by government enterprises. Table 5.13.—Real Private Inventories and Real Domestic Final Sales of Business by Industry Group [Billions of chained (1996) dollars] Seasonally adjusted quarterly totals 1997 1996 Line I Private inventories • Farm Nonfarm Durable goods Nondurable goods Manufacturing Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Motor vehicle dealers 2 Other 2 Nondurable goods Other Durable goods Nondurable goods Residual Final sales of domestic business 3 Final sales of goods and structures of domestic IV I 1999 IV I III IV I 1,223.3 1,230.8 1,243.6 1,251.9 1,264.7 1,288.0 1,302.8 1,321.0 1,347.8 1,358.6 1,377.6 1,395.3 1,407.8 1,411.3 1,420.8 1,437.5 95.8 1,127.5 624.2 503.3 424.2 259.5 164.6 305.4 190.3 115.1 263.0 165.1 97.8 42.4 25.2 17.3 309.9 168.1 84.9 83.2 141.9 87.9 6.2 81.7 .1 102.9 1,140.7 638.5 502.1 426.8 263.3 163.5 305.2 193.1 112.1 262.9 167.7 95.1 42.4 25.4 17.0 319.6 176.1 91.9 84.2 143.6 88.9 6.1 82.9 0 103.7 1,148.1 640.7 507.4 430.0 265.1 164.8 307.7 193.3 114.4 265.4 168.1 97.3 42.3 25.2 17.1 321.0 176.1 91.5 84.6 144.9 89.5 6.2 83.3 .1 552.8 102.5 1,162.3 647.7 514.5 435.7 269.1 166.7 313.7 196.9 116.8 270.8 171.3 99.5 42.9 25.5 17.4 320.3 175.5 90.9 84.6 144.8 92.5 6.3 86.2 -.1 558.1 309.5 104.3 1,183.7 661.3 522.4 443.1 274.3 168.7 322.5 204.3 118.1 278.2 177.8 100.4 44.3 26.6 17.7 323.0 176.2 90.6 85.6 146.8 95.1 6.5 88.6 .1 105.9 1,196.8 667.3 529.5 447.4 276.9 170.5 326.4 205.4 121.0 281.9 178.8 103.1 44.5 26.6 17.9 326.5 178.3 92.2 86.0 148.2 96.7 6.7 89.9 .1 106.7 1,214.3 676.5 537.7 452.1 279.3 172.8 332.0 208.3 123.7 287.2 181.5 105.7 44.8 26.8 18.0 331.7 182.0 95.7 86.3 149.7 104.9 1,253.5 696.1 557.4 468.6 291.2 177.4 342.7 216.1 126.6 296.4 188.1 108.2 46.3 28.0 18.4 336.2 181.4 94.0 87.4 154.8 106.2 7.5 98.6 .1 104.4 1,272.9 706.3 566.6 474.2 294.6 179.6 351.2 220.7 130.4 107.6 109.4 109.7 1,287.4 1,298.2 722.5 575.7 1,301.4 724.1 577.3 477.2 475.1 295.1 .1 107.5 1,240.2 690.8 549.4 461.6 285.6 176.0 339.2 214.5 124.6 293.7 187.1 106.6 45.6 27.5 18.1 337.0 183.5 95.9 87.6 153.5 102.4 7.1 95.3 0 117.2 8.0 109.3 -.1 108.7 1,311.7 730.0 581.7 475.5 295.5 180.0 366.9 233.1 133.7 317.5 202.6 114.9 49.4 30.5 18.9 352.2 193.6 100.1 93.5 158.6 117.2 7.7 109.5 .3 535.4 293.6 98.7 1,132.1 628.9 503.2 423.3 260.1 163.2 306.7 191.0 115.6 264.5 165.9 98.6 42.2 25.1 17.1 313.8 171.9 88.1 83.8 142.0 88.3 5.9 82.4 -.1 542.8 298.8 562.3 311.0 571.0 317.6 574.9 319.2 583.2 326.7 2.28 2.11 3.84 2.27 2.09 3.79 2.28 2.10 3.80 2.26 2.08 3.77 2.27 2.08 3.76 2.29 2.11 3.81 2.28 2.10 3.77 2.30 2.11 3.80 2.31 2.13 3.80 544.3 300.1 91.6 296.2 296.7 180.9 180.5 355.4 224.6 130.8 357.8 227.6 130.2 130.2 304.0 192.2 111.8 47.2 28.5 18.7 339.0 183.3 95.1 88.2 155.6 108.9 7.8 101.0 .1 307.6 195.7 111.9 47.8 28.9 18.9 309.7 198.3 111.3 48.1 29.3 18.8 311.8 342.9 347.2 348.7 187.3 189.7 97.8 91.9 190.7 97.0 90.3 155.5 157.5 112.3 8.1 104.2 116.2 8.5 107.7 .1 591.5 330.8 595.3 332.5 605.7 341.4 .1 613.3 346.7 619.0 349.3 626.5 353.3 107.0 1,329.8 742.9 587.0 477.6 296.3 181.3 370.6 237.4 133.1 321.6 207.2 114.3 49.1 30.2 18.8 363.3 200.9 103.9 96.9 162.5 118.1 8.0 110.1 1.0 636.8 359.6 2.30 2.12 3.79 2.31 2.14 3.83 2.30 2.13 3.77 2.30 2.12 3.74 2.28 2.10 3.73 2.27 2.09 3.71 2.26 2.09 3.70 716.2 571.2 477.2 180.0 360.6 230.3 200.1 111.7 48.8 30.2 18.6 97.8 92.9 158.0 3 business . Ratio of private inventories to final sales of domestic Private inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures 1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at quarterly rates, whereas, the change in private inventories component of GDP is stated at annual rates. 2. Inventories of auto and home supply stores are included in "other durable goods." 3. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product of households and institutions and of general government, and it includes a small amount of final sales by farm and by government enterprises. NOTE.-Chained (1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for 1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-of-year chain-weighted and fixed-weighted inventories are equal. Chained (1996) dollar final sales are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines for inventories. April 2000 • SURVEY OF CURRENT BUSINESS Table 5.14.—Gross Government Fixed Investment by Type Table 5.15.—Real Gross Government Fixed Investment by Type [Billions of dollars] [Billions of chained (1996) dollars] Line Gross government fixed investment' . Federal National defense Nondefense State and local Structures2 Federal National defense New Buildings Residential Industrial Military facilities3 Net purchases of used structures Nondefense New Buildings Residential Industrial Educational Hospital Other4 Highways and streets Conservation and development Other5 Net purchases of used structures State and local New Buildings Residential Industrial Educational Hospital Other4 Highways and streets Conservation and development Sewer systems Water systems Other5 Net purchases of used structures Equipment and software2 National defense Aircraft Missiles Ships Vehicles Electronics and software Other equipment Nondefense State and local Addenda: Government enterprise gross fixed investment Federal Structures Equipment and software State and local Structures Equipment and software 1995 1996 Line 1997 238.2 82.3 53.1 29.2 155.8 134.4 17.1 6.3 6.3 1.9 1.4 .6 4.4 0 10.8 11.4 4.6 250.1 86.3 54.6 31.7 163.8 140.3 17.8 6.7 6.7 2.0 1.4 .6 4.7 0 11.1 11.3 4.7 258.1 80.8 48.0 32.8 177.3 148.3 15.5 5.7 5.7 1.9 1.4 .5 3.9 0 9.7 10.2 4.7 268.7 85.2 48.7 36.5 183.5 151.9 16.7 5.4 5.4 1.9 1.4 .6 3.5 0 11.3 10.5 4.6 .4 0 1.0 3.2 .3 3.4 1.9 -.5 132.8 129.0 58.1 3.1 .3 2.9 .3 4.2 2.3 -.6 117.3 114.2 52.4 4.1 .7 0 .9 3.1 .4 3.8 2.4 -.2 122.5 119.2 54.3 3.4 3.5 .4 3.6 2.0 .8 135.2 131.0 60.5 3.5 25.8 3.1 19.5 37.3 2.2 8.2 5.0 9.1 3.1 103.8 65.2 46.9 9.0 4.7 8.0 1.1 10.5 13.6 18.4 38.6 27.1 3.2 20.5 39.5 2.4 8.6 5.7 8.6 3.3 109.8 68.5 47.9 9.2 4.1 6.8 1.2 11.6 15.2 20.5 41.3 28.9 3.4 22.7 44.0 2.5 8.5 6.3 9.5 3.8 109.8 65.3 42.3 5.8 2.9 6.1 1.4 12.2 13.9 23.0 44.5 29.9 3.1 23.9 44.4 2.3 8.3 6.3 9.2 4.3 116.8 68.5 43.3 5.6 3.3 6.4 1.5 12.7 13.8 25.2 48.3 44.6 6.1 2.8 3.3 38.5 32.1 6.4 45.4 5.8 2.2 3.6 39.6 32.7 6.9 48.1 6.3 2.2 4.1 41.8 34.1 7.7 49.3 7.0 2.4 4.6 42.3 34.0 8.3 1. Consists of general government and government enterprise expenditures for fixed assets. 2. Structures and software include compensation of government employees engaged in new own-account investment and related expenditures for goods and services. 3. Consists of Department of Defense new structures, except family housing. 4. Consists primarily of general office buildings, police and fire stations, courthouses, auditoriums, garages, and passenger terminals. 5. Consists primarily of electric and gas facilities, transit systems, and airfields. ] Gross government fixed investment Federal National defense Nondefense . State and local Structures2 Federal National defense New Buildings Residential Industrial Military lacihties3 Net purchases of used structures Nondefense . New Buildings Residential Industrial Educational Hospital Other4 Highways and streets Conservation and development Other5 Net purchases of used structures State and local New Buildings . Residential Industrial Educational Hospital Other4 Highways and streets Conservation and development Sewer systems Water systems Other5 Net purchases of used structures Equipment and software2 Federal National defense Aircraft Missiles ... Ships Vehicles ... Electronics and software Other equipment Nondefense . . . State and local Residual Addenda: Government enterprise gross fixed investment Federal . Structures Equipment and software State and local Structures Equipment and software ... . . 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 1995 1996 1997 79 1998 240.8 82.2 532 29.0 158.6 138.5 17.6 6.5 6.5 2.0 1.4 .6 4.5 0 11.1 11.7 4.7 250.1 86.3 546 31.7 163.8 140.3 17.8 6.7 6.7 2.0 1.4 .6 4.7 0 11.1 11.3 4.7 256.3 81.9 487 33.1 174.3 143.4 15.0 5.5 5.5 1.8 1.4 .4 3.7 0 9.4 9.9 4.5 266.4 87.6 503 37.2 178.8 143.1 15.7 5.1 5.1 1.8 1.3 .5 3.3 0 10.6 9.9 4.3 .9 0 .8 3.0 .3 4.3 2.4 -.6 120.9 117.7 53.7 4.2 .7 0 .9 3.1 .4 3.8 2.4 -.2 122.5 119.2 54.3 3.4 .4 0 1.0 3.1 .3 3.3 1.8 -.4 128.4 124.8 56.3 3.0 .3 0 .7 3.3 .3 3.4 1.9 .7 127.5 123.4 56.6 3.3 26.3 3.2 20.0 38.9 2.3 8.3 5.1 9.5 3.2 102.4 64.6 46.8 9.3 4.6 8.0 1.1 10.1 13.8 17.9 37.8 -.4 27.1 3.2 20.5 39.5 2.4 8.6 5.7 8.6 3.3 109.8 68.5 47.9 9.2 4.1 6.8 1.2 11.6 15.2 20.5 41.3 .1 28.0 3.3 21.9 42.4 2.4 8.3 6.2 9.2 3.7 112.9 66.9 43.2 6.2 3.0 6.0 1.4 12.7 13.9 23.7 45.9 .1 28.0 2.9 22.3 42.1 2.2 7.9 6.1 8.6 4.0 123.8 72.0 45.3 6.2 3.5 6.4 1.5 13.8 13.8 26.7 51.8 -.4 45.3 61 2.9 33 39.1 330 6.2 45.4 58 2.2 36 39.6 327 6.9 47.0 6.4 2.1 43 40.6 331 7.5 47.5 72 2.3 50 40.4 322 8.2 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda. Chain-type quantity indexes for the series in this table are shown in table 7.13. See footnotes to table 5.14. 80 • April 2000 SURVEY OF CURRENT BUSINESS Table 5.16.—Changes in Net Stock of Produced Assets (Fixed Assets and inventories) [Billions of dollars] Line 1995 1996 1997 1998 Opening balance 20,689.1 21,663.8 22,698.8 23,808.9 19,526.1 20,441.5 21,447.3 22,501.4 15,203.7 15,908.5 16,722.5 17,573.4 4,928.1 4,724.8 4,322.4 4,533.0 1,307.5 1,251.5 1,163.0 1,222.4 Produced assets Fixed assets Private Government Private inventoriesl Accumulation of produced assets 1,348.9 1,110.7 825.1 204.6 620.5 285.6 1,462.8 1,212.7 899.4 225.0 674.4 313.3 1,573.4 1,315.4 986.1 254.1 732.1 329.2 1,728.7 1,460.0 1,091.3 272.8 818.5 368.7 238.2 134.4 103.8 250.1 140.3 109.8 258.1 148.3 109.8 268.7 151.9 116.8 20.9 22.4 -1.5 22.6 29.9 -7.2 30.8 30.9 -.1 37.8 37.8 0 909.3 956.2 741.2 621.1 134.5 486.5 120.1 781.9 656.3 140.3 516.0 125.6 1,009.1 828.5 696.1 148.2 547.9 132.5 1,064.6 878.4 740.0 155.2 584.8 138.4 Government Structures Equipment and software 168.1 68.5 99.6 174.3 71.9 102.4 180.5 75.6 104.9 186.2 78.9 107.3 Change in private inventories7 33.0 30.0 68.3 71.2 525.5 419.6 395.9 308.5 87.5 23.7 520.9 405.3 382.4 297.9 84.6 22.9 508.2 239.0 225.7 176.1 49.6 13.3 588.3 215.0 203.0 158.8 44.2 12.0 105.9 103.2 51.6 51.6 2.7 115.6 139.4 115.3 24.1 -23.7 269.1 294.8 218.7 76.1 -25.7 373.4 429.5 366.9 62.7 -56.2 Gross fixed investment Private 2 Nonresidential Structures Equipment and software Residential Government3 Structures Equipment and software Less: Stock reconciliation adjustments Private 4 Government5 Less: Consumption of fixed capital, except disaster losses 6 Private Nonresidential Structures Equipment and software Residential Other changes in volume of assets Less: Other changes in volume of assets Private fixed assets 8 Government fixed assets 9 General government Government enterprises Revaluation Nominal holding gains or lossesB Neutral holding gains or losses!-) 10 Fixed assets Private Government Private inventories1 Real holding gains or losses(-) Fixed assets Private Government Private inventories1 Closing balance Produced assets'' Fixed assets Private Government Private inventories1 Addenda: Intersectoral auto valuation adjustment12 Brokers' commissions on sale of nonresidential used structures and dealers' margins on used equipment. Electric plants put in place less electric plants put in use 1 3 Private Government Abandoned electric plants 14 21,663.8 22,698.8 23,808.9 25,094.8 20,441.5 21,447.3 22,501.4 23,760.3 15,908.5 16,722.5 17,573.4 18,642.9 4,928.1 5,117.5 4,533.0 4,724.8 1,334.5 1,222.4 1,251.5 1,307.5 14.6 8.2 17.7 21.3 9.5 25.4 10.5 -1.9 -.4 -1.5 0 -3.9 3.4 -7.2 0 0 .1 -.1 0 1.8 1.9 0 0 1. Estimates of government inventories are not available. 2. Private fixed investment shown in table 5.2, line 4. 3. Gross government investment shown in table 5.2, line 20. 4. Consists of intersectoral auto valuation adjustment (line 49); brokers' commissions on sale of nonresidential used structures and dealers' margins on used equipment (line 50); and private electric plants put in place less electric plants put in use (line 52). 5. Consists of government electric plants put in place less electric plants put in use (line 53). 6. Equals consumption of fixed capital shown in table 1.9, line 5 less the other changes in volume of private fixed assets (line 29) and government enterprises fixed assets (line 32). 7. Change in private inventories shown in table 1.1, line 12. Inventory estimates are not adjusted for disaster losses, theft, obsolescence, or infestation. 8. Consists of disaster losses. Structures and equipment destroyed are valued at current cost. 9. Consists of disaster and war losses. Structures and equipment destroyed are valued at current cost. 10. Neutral holding gains are the gains derived from holding an asset if the price of an asset changed in the same proportion as the general price level. The chain-type price index for gross domestic purchases is used as a measure for the general price level. 11. Equals lines 1+6-15-18+27-28+33. 12. Used autos are valued at acquisition prices less depreciation in the estimates of the stocks of private fixed assets and consumer durable goods; net purchases of used autos by business from consumers are valued at wholesale prices in gross fixed investment. 13. This adjustment reflects a timing difference between fixed investment and the stock of produced assets. In investment, the value of structures and equipment for electric plants is recorded on a put-in-place basis; in the stocks, the investment is recorded when the plants are put in use. 14. Consists of the value of abandoned nuclear power plants that were never put in use. The investment in these plants is included in gross fixed investment, but does not enter the opening or closing balances—it is included in the adjustments to gross fixed investment shown in line 15. SURVEY OF CURRENT BUSINESS April 2000 • 81 6. Income, Employment, and Product by Industry. Table 6.1 C—National Income Without Capital Consumption Adjustment by Industry Group [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1999 1997 1999 5,884.4 6,206.4 6,613.4 7,004.4 7,453.7 6,458.0 6,561.4 6,671.7 Domestic industries . 5,864.0 6,188.3 6,609.2 7,014.3 7,473.6 6,452.8 6,551.9 Private industries . 5,039.9 5,338.7 5,731.7 6,104.4 6,523.2 5,584.8 5,677.9 86.9 45.7 266.7 101.9 50.7 290.3 101.9 58.6 314.2 102.5 54.7 342.0 115.0 50.8 373.5 102.7 56.5 305.2 1,058.5 606.8 451.6 1,073.9 614.0 459.9 1,124.3 654.0 470.3 1,155.9 689.0 466.9 1,184.3 709.2 475.0 440.7 183.9 129.4 127.3 461.6 194.7 136.1 130.8 497.5 208.4 157.1 132.0 526.2 222.3 166.9 137.0 328.2 481.8 1,013.5 354.7 509.8 1,088.0 382.2 545.7 1,186.4 1,318.1 1,407.8 824.2 849.6 20.3 18.1 National income without capital consumption adjustment. Agriculture, forestry, and fishing Mining Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities Transportation Communications Electric, gas, and sanitary services ., Wholesale trade Retail trade Finance, insurance, and real estate Services Government Rest of the world I 6,762.6 6,857.7 6,945.7 7,054.5 7,159.6 7,297.4 6,669.7 6,762.4 6,854.6 6,945.7 7,080.1 7,176.7 5,788.4 5,875.8 5,958.3 6,040.4 6,165.5 6,253.4 102.0 59.0 311.4 102.3 59.3 316.8 100.6 59.4 323.4 92.8 58.5 329.5 95.2 54.9 337.9 100.4 53.5 345.4 1,099.3 631.0 468.3 1,117.5 647.1 470.4 1,136.3 666.6 469.7 1,144.0 671.2 472.8 1,147.1 676.4 470.7 1,153.4 682.3 471.1 557.3 233.1 179.6 144.5 480.3 202.0 146.8 131.6 490.1 205.0 153.1 132.0 505.5 211.3 163.4 130.9 514.0 215.5 165.1 133.4 520.0 217.5 167.2 135.2 517.5 219.8 163.6 134.1 410.2 580.8 1,274.3 432.4 619.5 1,385.7 379.9 538.9 1,177.1 385.4 549.8 388.5 557.1 1,218.0 400.2 569.9 409.8 576.7 1,199.1 1,237.1 1,520.9 1,657.8 1,804.8 375.1 537.1 1,151.4 1,477.2 1,502.0 1,533.8 1,570.7 1,603.2 1,260.9 1,634.1 877.5 909.9 950.4 874.0 881.3 886.6 896.3 4.3 -9.9 -20.0 9.6 2.0 .3 3.1 NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). IV 5.2 905.3 7,383.3 7,488.9 7,645.1 7,311.9 7,397.6 7,504.4 7,680.7 6,373.9 6,453.1 6,549.4 6,716.5 121.7 51.7 355.2 113.8 49.9 364.1 116.8 49.2 371.0 105.2 51.4 375.2 124.3 52.7 383.7 1,165.4 694.1 471.3 1,157.7 703.2 454.5 1,171.4 699.0 472.4 1,178.8 706.5 472.3 1,191.0 711.7 479.3 1,195.9 719.7 476.2 532.7 224.5 169.0 139.2 534.6 227.5 167.6 139.4 545.1 228.8 174.7 141.7 543.9 229.0 176.0 138.9 561.6 234.5 181.0 146.1 578.5 240.3 186.8 151.5 416.7 414.2 591.5 1,311.0 423.5 609.8 1,348.3 429.5 1,288.1 618.6 1,361.5 432.5 618.8 1,392.0 444.2 630.7 1,441.0 1,678.3 1,715.8 1,748.0 1,783.8 1,821.8 1,865.5 914.6 923.3 938.0 944.5 955.0 964.2 -25.6 -17.1 -14.4 -14.3 -15.5 -35.6 584.9 82 • April 2000 SURVEY OF CURRENT BUSINESS Table 6.2C—Compensation of Employees by Industry Table 6.3C—Wage and Salary Accruals by industry [Millions of dollars] [Millions of dollars] Line Compensation of employees Domestic industries Private industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing l Water transportation Transportation by air 1 Pipelines, except natural gas Transportation services Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations Social services Membership organizations Other services2 Private households Government Federal General government Civilian Military3 Government enterprises State and local General government Education Other Government enterprises Rest of the world Receipts from the rest of the world Less: Payments to the rest of the world 4 Addenda: Households and institutions Nonfarm business 1995 1996 1997 44,911 44,653 13,626 309,376 60,400 2,964 18,783 58,037 45,627 47,211 . 13,845 314,363 61,472 2,900 18,623 20,195 32,978 61,849 67,418 9,721 36,524 2,683 285,015 156,530 15,652 10,053 61,731 48,930 49,279 14,528 327,454 63,596 3,095 19,176 20,050 33,860 65,081 52,687 52,549 15,312 341,010 66,368 2,951 19,171 19,722 34,511 32,415 68,925 59,987 71,262 75,339 65,750 10,757 10,109 9,851 40,638 35,528 38,530 2,628 2,840 2,678 322,383 275,111 301,589 150,057 176,377 165,395 15,312 15,851 9,320 10,520 11,211 56,608 62,333 58,494 7,761 8,358 8,797 7,873 45,674 51,162 48,637 55,213 995 1,034 971 997 16,139 14,850 14,348 17,610 75,252 71,762 81,897 90,050 56,822 54,078 62,125 67,911 18,430 19,772 17,684 22,139 53,233 53,292 55,956 54,297 275,996 335,441 310,227 382,046 446,621 398,276 420,173 322,831 351,798 381,762 425,875 78,887 93,358 82,740 87,268 22,087 38,764 25,330 30,143 58,857 92,271 72,063 80,219 72,391 86,740 75,441 79,756 30,585 36,994 32,424 35,006 41,730 54,353 44,526 48,461 18,294 23,395 20,909 19,274 1,050,851 1,122,869 1,216,466 1,329,752 36,465 43,504 38,117 40,284 23,154 26,886 24,167 25,355 193,179 300,529 220,399 255,822 27,675 34,339 30,089 32,082 11,251 13,337 12,050 12,460 16,689 21,723 17,976 20,225 39,947 34,200 36,934 43,554 383,237 365,617 342,392 399,740 62,541 55,150 61,842 67,700 57,763 54,500 52,221 62,609 99,728 90,118 106,667 47,894 51,109 45,556 55,606 48,619 46,772 44,562 51,061 174,969 161,195 149,777 195,159 12,053 12,009 11,888 14,005 849,625 877,469 909,876 824,180 263,231 266,942 270,470 257,688 211,001 211,725 206,903 214,394 124,935 125,748 123,674 128,743 86,066 85,977 83,229 85,651 55,217 52,230 50,785 56,076 586,394 566,492 610,527 639,406 548,416 528,907 571,835 290,650 321,361 278,484 304,851 257,766 250,423 266,984 278,028 37,585 37,978 38,692 40,017 -4,508 -4,550 -4,962 -5,256 1,761 1,756 1,802 1,856 6,269 6,306 7,112 6,764 Wage and salary accruals Domestic industries Private industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products . Rubber and miscellaneous plastics products Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing1 Water transportation Transportation by air 1 Pipelines, except natural gas Transportation services Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations Social services Membership organizations Other services2 Private households Government Federal General government Civilian Military3 Government enterprises State and local General government Education Other Government enterprises Rest of the world 330,327 348,558 366,180 385,575 3,125,172 3,275,584 3,513,490 3,798,508 1. Reflects the r e c t i f i c a t i o n of air couriers from trucking and warehousing to transportation by air. 2. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 3. Includes Coast Guard. 4. Includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). Line 1998 4,202,477 4,395,585 4,675,738 5,011,190 4,206,985 4,400,135 4,680,700 5,016,446 3,382,805 3,550,510 3,803,231 4,106,570 36,998 42,742 39,815 46,353 15,676 16,576 17,470 18,580 23,239 25,272 21,322 27,773 32,501 33,365 35,490 36,283 3,103 3,202 3,247 3,064 5,905 5,736 5,689 5,573 18,863 19,670 21,519 22,295 4,630 4,757 5,035 5,351 193,135 208,199 227,184 248,958 813,336 822,405 867,598 914,904 503,960 508,042 540,144 573,894 23,806 24,805 26,172 27,697 15,436 15,682 18,138 22,005 23,737 22,820 25,161 35,570 36,839 37,826 35,852 58,508 65,925 59,626 99,610 112,597 120,168 103,632 77,527 93,350 80,905 Receipts from the rest of the world Less: Payments to the rest of the world 4 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 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 1995 1996 1997 1998 3,441,060 3,630,142 3,884,713 4,189,515 3,445,568 3,634,692 3,889,675 4,194,771 2,822,866 2,993,688 3,225,229 3,501,946 31,972 13,311 18,661 34,570 14,184 20,386 37,392 15,048 22,344 40,880 16,223 24,657 26,785 2,514 4,823 15,639 3,809 27,796 2,619 4,728 16,495 3,954 29,702 2,672 4,714 18,106 4,210 30,482 2,522 4,628 18,838 4,494 157,632 172,199 189,379 209,700 650,827 675,087 715,009 757,707 397,724 19,385 12,574 17,640 27,927 46,789 82,169 62,547 44,838 36,090 36,929 10,836 416,305 20,448 12,956 18,556 28,662 48,438 86,419 66,305 46,773 37,099 39,455 11,194 443,950 21,739 13,848 19,425 29,633 51,361 94,488 71,668 48,427 40,133 41,388 11,840 474,133 23,098 15,156 20,695 30,544 54,184 101,317 77,424 51,389 43,459 44,327 12,540 253,103 49,489 2,208 15,686 17,277 27,029 50,081 52,432 7,773 28,762 2,366 258,782 50,558 2,199 15,612 16,778 27,566 51,835 54,422 7,754 29,817 2,241 271,059 52,652 2,378 16,142 16,751 28,427 54,831 57,851 8,105 31,672 2,250 283,574 55,218 2,246 16,196 16,524 29,087 58,353 61,478 8,669 33,590 2,213 221,484 231,564 246,898 265,657 119,175 11,272 7,723 44,830 6,322 36,183 125,584 11,543 8,366 47,074 6,463 38,839 133,829 11,753 8,857 50,678 6,912 41,143 143,696 11,546 9,496 54,671 7,325 44,826 868 816 839 847 11,977 12,483 13,647 14,985 58,628 43,806 14,822 62,060 46,612 15,448 68,038 51,332 16,706 75,333 56,507 18,826 43,681 43,920 45,031 46,628 234,445 246,699 265,850 288,598 328,984 345,115 365,733 390,983 272,961 65,579 18,323 51,907 60,168 26,360 35,416 15,208 300,446 69,505 21,267 64,026 63,367 28,034 37,978 16,269 327,406 73,602 25,501 71,282 67,301 30,389 41,581 17,750 366,882 79,042 33,035 82,344 73,464 32,181 46,846 19,970 897,776 30,514 20,182 165,205 23,885 9,644 14,409 29,077 289,614 53,680 43,786 78,067 37,970 40,097 128,150 11,563 960,212 1,047,860 1,151,057 34,524 37,426 32,321 22,442 21,244 23,848 223,151 263,626 190,630 26,211 28,128 30,180 10,877 11,672 10,443 17,739 15,599 19,069 31,670 34,649 37,893 303,697 335,207 319,388 47,851 54,931 59,561 46,493 49,702 53,998 94,268 82,818 87,999 40,468 47,698 43,668 42,350 44,331 46,570 139,550 170,667 152,598 11,685 11,732 13,642 622,702 641,004 664,446 692,825 174,590 140,132 84,556 55,576 34,458 175,561 140,104 85,294 54,810 35,457 177,337 140,083 85,116 54,967 37,254 179,803 142,060 86,980 55,080 37,743 448,112 417,871 218,102 199,769 30,241 465,443 434,766 228,486 206,280 30,677 487,109 455,669 240,772 214,897 31,440 513,022 480,277 255,052 225,225 32,745 -4,508 -4,550 -4,962 -5,256 1,761 6,269 1,756 6,306 1,802 6,764 1,856 7,112 1. Reflects the r e c t i f i c a t i o n of air couriers from trucking and warehousing to transportation by air. 2. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 3. Includes Coast Guard. 4. Includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). April 2000 • 83 SURVEY OF CURRENT BUSINESS Table 6.4C—Full-Time and Part-Time Employees by Industry Table 6.5C—Full-Time Equivalent Employees by Industry [Thousands] [Thousands] Line Full-time and part-time employees 1995 1996 1997 1998 124,632 127,009 130,085 133,378 Line Full-time equivalent employees' Domestic industries 125,158 127,494 130,617 133,917 Domestic industries Private industries 103,193 105,559 108,583 111,702 Private industries 2,010 2,048 832 1,216 2,137 876 1,261 2,193 880 1,313 582 54 601 54 593 99 97 340 Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products Transportation and public utilities 868 1,142 587 52 106 108 321 108 5,385 5,671 5,964 49 93 340 111 6,297 18,594 18,579 18,770 18,935 10,723 10,838 790 801 506 546 708 11,061 819 513 555 710 1,485 2,175 1,693 984 858 865 404 11,277 840 535 566 714 1,517 2,217 1,709 7,709 7,658 1,694 1,694 40 599 770 679 321 512 541 707 1,444 2,070 1,626 1,453 2,117 1,660 970 968 817 842 404 821 854 404 7,871 1,688 41 664 7,741 1,697 41 630 874 683 1,564 1,033 139 981 945 693 1,571 1,039 143 979 108 6,172 99 6,293 4,063 223 440 1,659 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing' Water transportation Transportation by air 1 Pipelines, except natural gas Transportation services 3,956 232 420 Communications Telephone and telegraph Radio and television 1,309 916 1,348 393 907 6,476 412 Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations Social services Membership organizations Other services2 Private households Government Federal General government Civilian Military3 Government enterprises State and local General government Education Other Government enterprises Rest of the world 4 1,620 178 1,068 15 423 21,868 6,929 2,023 464 553 1,500 732 1,410 247 35,172 1,757 1,301 6,935 1,132 374 507 1,516 9,572 1,056 2,073 4,618 2,435 2,183 3,050 1,281 21,965 5,560 4,570 2,026 2,544 990 16,405 15,549 8,388 7,161 856 177 1,119 14 431 936 110 41 618 829 685 1,579 1,036 137 998 92 6,467 4,176 220 457 1,708 999 899 872 409 1,594 1,042 137 1,016 87 6,671 4,336 1,141 14 453 216 473 1,777 185 1,200 14 471 1,421 1,003 418 1,477 1,045 432 183 882 870 858 6,560 22,256 7,053 6,746 22,636 7,256 6,923 2,017 514 581 1,505 746 1,442 248 2,031 575 630 1,527 767 1,481 245 36,517 1,794 1,318 7,485 38,006 1,833 1,326 8,148 1,248 389 569 39,545 1,876 1,664 1,729 10,197 1,113 2,262 5,154 2,750 2,404 1,205 389 539 1,590 9,813 1,064 2,113 4,759 2,515 2,244 3,202 1,246 21,935 5,387 4,397 1,951 2,446 10,038 1,084 2,179 4,949 2,620 2,329 3,346 1,233 22,034 5,268 4,276 1,900 2,376 23,006 7,539 2,046 664 681 1,576 787 1,535 250 1,340 8,793 1,275 395 592 3,539 1,280 22,215 5,196 4,200 1,878 2,322 990 992 996 16,548 15,704 8,522 7,182 844 16,766 15,933 8,716 7,217 833 17,019 16,181 8,896 7,285 838 -532 -639 -526 1. Reflects the reclassification of air couriers from trucking and warehousing to transportation by air. 2. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 3. Includes Coast Guard. 4. Includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products . Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing2 Water transportation Transportation by air 2 Pipelines, except natural gas Transportation services Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations . Social services Membership organizations Other services3 Private households Government Federal General government Civilian Military4 Government enterprises . State and local General government Education Other Government enterprises. Rest of the world 5 87 1995 1996 1997 1998 111,017 113,300 116,213 119,317 111,468 113,716 116,669 119,779 93,133 95,388 98,254 101,229 1,972 1,839 1,760 1,789 754 751 744 713 1,218 1,088 1,016 1,076 581 589 575 571 49 54 52 54 91 95 103 97 333 333 315 315 108 107 105 105 6,074 5,752 5,180 5,444 18,190 18,168 18,350 18,513 10,561 10,664 10,880 11,100 817 792 782 772 523 501 497 502 558 544 532 530 709 705 703 697 1,493 1,461 1,426 1,421 2,181 2,141 2,074 2,051 1,689 1,673 1,645 1,607 990 975 959 961 891 850 815 809 858 851 842 827 391 387 389 384 7,504 7,413 7,629 7,470 1,654 1,651 1,648 1,642 41 40 40 39 654 624 612 593 803 745 919 846 674 671 677 685 1,444 1,478 1,450 1,465 1,027 1,021 1,019 1,023 142 135 138 135 997 963 965 982 84 106 95 89 5,777 5,884 6,037 6,219 3,684 4,034 3,783 3,886 211 208 205 220 432 384 402 418 1,596 1,660 1,515 1,551 171 173 167 166 1,063 995 1,043 1,118 14 14 15 14 388 396 416 432 1,197 1,341 1,229 1,293 838 854 913 949 359 375 380 392 872 896 858 844 6,627 6,201 6,280 6,458 18,030 18,383 18,759 19,065 6,637 6,552 6,796 7,027 1,920 1,935 1,924 1,929 492 447 548 630 557 532 601 646 1,449 1,451 1,463 1,503 707 697 724 739 1,274 1,252 1,302 1,343 238 238 234 237 30,868 32,232 33,674 35,151 1,649 1,522 1,561 1,603 1,140 1,163 1,176 1,161 8,181 7,526 6,372 6,876 1,214 1,182 1,061 1,136 368 360 343 358 467 447 394 421 1,394 1,360 1,228 1,294 8,496 9,104 8,778 8,989 937 997 945 963 1,844 1,799 1,898 1,983 3,933 4,065 4,239 4,428 2,118 2,199 2,302 2,429 1,815 1,866 1,937 1,999 2,808 3,112 2,963 3,308 834 835 828 882 18,335 18,328 18,415 18,550 4,530 4,378 4,272 4,218 3,477 3,416 3,722 3,575 1,870 1,845 1,984 1,913 1,571 1,607 1,738 1,662 802 808 803 795 13,805 13,950 14,143 14,332 12,922 13,079 13,282 13,466 6,887 7,054 6,769 7,184 6,192 6,153 6,228 6,282 871 861 883 866 -416 -456 -462 -451 1. Full-time equivalent employees equals the number of employees on full-time schedules plus the number of employees on part-time schedules converted to a full-time basis. The number of full-time equivalent employees in each industry is the product of the total number of employees and the ratio of average weekly hours per employee for all employees to average weekly hours per employee on full-time schedules. 2. Reflects the reclassification of air couriers from trucking and warehousing to transportation by air. 3. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 4. Includes Coast Guard. 5. Includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 84 • April 2000 SURVEY OF CURRENT BUSINESS Table 6.6C —Wage and Salary Accruals Per Full-Time Equivalent Employee by Industry Table 6.7C—Self-Employed Persons by Industry Group [Thousands] [Dollars] Line 1995 1996 1997 30,996 32,040 33,428 Domestic industries 30,911 31,963 33,339 35,021 Private industries 30,310 31,384 32,825 34,594 18,166 17,891 18,367 46,583 48,346 46,825 49,648 36,276 30,431 35,779 37,660 25,110 25,048 33,283 40,067 32,927 40,063 38,922 46,658 44,611 44,654 28,219 33,176 30,139 53,854 23,985 18,800 39,458 34,539 51,054 54,739 29,867 22,321 38,339 32,349 51,236 20,112 29,591 37,856 19,324 19,893 18,946 48,680 48,500 48,742 52,365 37,657 31,631 37,158 39,038 26,148 26,068 34,880 40,771 33,968 41,668 40,307 48,773 45,520 20,333 20,037 20,537 50,428 49,481 49,621 54,372 39,346 32,924 38,965 40,804 27,448 27,641 35,708 42,033 35,155 44,133 42,838 49,669 47,215 48,635 30,594 20,730 21,516 20,244 52,465 51,469 50,857 56,571 41,611 34,524 40,928 42,715 28,272 28,979 37,088 43,080 36,292 46,454 45,840 51,908 48,776 51,663 32,072 38,254 33,506 57,590 27,312 22,180 43,349 39T481 60,096 64,215 33,691 26,345 42,717 35,621 56,322 21,981 32,934 42,341 40,095 60,500 34,688 56,177 59,544 48,026 55,246 43,549 20,508 Line Wage and salary accruals per full-time equivalent Self-employed persons 35,112 employee. Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing' Water transportation Transportation by air 1 Pipelines, except natural gas Transportation services 57,867 Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations Social services Membership organizations Other services 2 Private households Government Federal General government Civilian Military3 Government enterprises State and local General government Education Other Government enterprises L 48,979 52,274 41,287 48,751 37,808 18,246 41,661 33,891 40,991 97,570 41,467 37,819 28,288 63,899 29,084 20,049 17,704 25,927 22,512 28,117 36,571 23,678 34,088 57,289 24,339 19,849 17,927 22,092 45,637 13,848 33,962 38,541 37,650 42,619 31,977 42,646 32,460 32,338 32,221 32,467 34,248 28,776 34,486 30,567 54,975 25,019 19,832 40,718 35,897 53,303 56,188 30,898 23,589 39,355 33,197 54,706 20,811 30,351 38,934 37,238 58,286 31,523 50,496 54,581 41,195 50,367 39,283 18,774 45,268 36,201 43,226 114,948 43,732 39,652 29,810 68,357 29,791 20,705 18,267 27,724 23,073 29,170 37,052 24,474 34,598 50,636 25,213 20,373 18,403 47,098 14,112 34,974 40,101 39,190 44,587 32,978 44,156 33,365 33,242 33,176 33,314 35,220 31,891 59,450 26,376 20,861 42,177 37,427 56,772 60,037 32,253 25,281 40,897 34,439 56,505 21,189 31,753 40,421 38,705 59,929 32,805 52,620 56,223 43,963 52,484 41,166 19,496 48,176 38,255 46,535 118,606 46,002 41,974 31,936 75,855 31,118 21,537 19,330 29,651 23,797 30,214 39,685 25,477 35,531 57,042 26,187 20,759 18,970 49,035 14,067 36,082 41,511 40,288 45,517 34,205 34,442 34,307 34,133 34,505 36,516 52,210 40,976 52,437 127,467 48,878 43,547 34,882 84,262 32,746 22,696 20,279 32,224 24,860 31,717 40,833 27,183 36,820 59,740 27,230 21,289 19,637 23,297 51,592 15,467 37,349 42,628 41,587 47,144 35,060 47,061 35,796 35,666 35,503 35,852 37,812 Rest of the world 1. Reflects the r e c t i f i c a t i o n of air couriers from trucking and warehousing to transportation by air. 2. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 3. Includes Coast Guard. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). l Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing ... Mining Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities Wholesale trade Retail trade Finance, insurance, and real estate Services 1995 1996 10,514 1,620 1,224 396 16 1,470 436 255 181 395 354 1,432 659 4,132 10,524 1,549 1,114 435 15 1,506 408 247 161 434 307 1,468 673 4,164 1997 10,544 1,482 1,063 419 14 1,502 424 254 170 436 277 1,499 628 4,282 10,232 1,366 951 415 20 1,529 431 255 176 429 292 1,354 609 4,202 1. Consists of active proprietors or partners who devote a majority of their working hours to their unincorporated lusinesses. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). April 2000 • SURVEY OF CURRENT BUSINESS Table 6.8C—Persons Engaged in Production by Industry Table 6.9C—flours Worked by Full-Time and Part-Time Employees by Industry Group [Thousands] Line Persons engaged in production' Domestic industries Private industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels , Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and intemrban passenger transit Trucking and warehousing2 Water transportation Transportation by air 2 Pipelines, except natural gas Transportation services Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services Legal services Educational services Social services and membership organizations Social services Membership organizations Other services3 Private households Government Federal General government Civilian Military4 Government enterprises State and local General government Education Other Government enterprises Rest of the world 5 87 1995 1996 1997 121,531 123,824 126,757 121,982 124,240 127,213 103,647 105,912 108,798 3,380 3,338 3,321 1,968 1,827 1,814 1,412 1,511 1,507 591 586 603 53 56 54 104 97 95 326 326 345 108 107 109 6,650 6,950 7,254 18,626 18,576 18,774 10,816 10,911 11,134 856 862 862 521 525 530 561 547 563 706 700 706 1,447 1,442 1,481 2,096 2,084 2,173 1,655 1,616 1,682 961 963 977 820 816 855 849 835 860 439 426 445 7,810 7,665 7,640 1,659 1,664 1,676 41 40 40 661 632 620 950 880 830 687 678 677 1,560 1,535 1,562 1,032 1,025 1,023 142 138 135 968 971 110 102 6,172 6,318 6,473 4,041 4,284 4,181 220 211 208 432 445 481 1,776 1,879 1,853 178 179 174 1,001 1,050 1,068 15 14 14 419 434 455 1,221 1,259 1,324 852 873 938 369 386 386 910 878 865 6,555 6,587 6,735 19,462 19,851 20,258 7,211 7,424 7,310 1,938 1,925 1,923 467 564 507 620 679 646 1,451 1,463 1,449 854 875 871 1,643 1,684 1,676 238 234 238 35,000 36,396 37,956 1,583 1,620 1,665 1,769 1,798 1,789 7,096 7,651 8,261 1,363 1,481 1,511 586 569 582 555 583 610 1,310 1,400 1,485 8,902 9,167 9,402 1,170 1,145 1,200 1,913 1,962 2,003 4,484 4,618 4,816 2,669 2,752 2,879 1,815 1,866 1,937 3,434 3,574 3,798 835 828 834 18,335 18,328 18,415 4,530 4,378 4,272 3,722 3,575 3,477 1,984 1,913 1,870 1,738 1,662 1,607 808 803 795 13,805 13,950 14,143 12,922 13,079 13,282 6,769 6,887 7,054 6,153 6,192 883 871 -451 -416 -456 [Millions of hours] 1998 Line 129,549 130,011 111,461 3,338 1,705 1,633 601 49 93 349 110 7,603 18,944 11,355 896 544 569 710 1,514 2,216 1,699 997 902 864 444 7,589 1,672 39 600 775 672 Hours worked by full-time and part-time employees .. Domestic industries Private industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 1995 1996 1997 1998 209,918 211,074 177,870 3,630 1,820 1,810 1,298 10,587 212,892 219,331 225,050 213,881 220,415 226,149 180,738 187,149 192,643 3,655 1,741 1,914 3,822 1,832 1,990 3,938 1,841 2,097 1,301 1,336 1,277 11,063 11,737 12,392 36,524 21,261 15,263 36,436 21,462 14,974 37,041 22,062 14,979 37,207 22,320 14,887 11,839 7,622 2,430 1,787 12,030 7,856 2,462 1,712 12,288 8,005 2,575 1,708 12,592 8,195 2,709 1,688 Wholesale trade 12,133 12,055 12,415 12,741 Retail trade 32,569 32,937 33,842 34,581 Finance, insurance, and real estate 11,917 12,066 12,713 13,291 Services 57,373 59,195 61,955 64,624 33,204 29,765 3,439 33,143 29,728 3,415 33,266 29,864 3,402 33,506 -1,084 -1,099 Government General government Government enterprises Rest of the world > -1,156 30,086 3,420 1,578 1,028 136 1,004 85 1. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. N O T E — Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 6,648 4,433 205 486 Table 6.10C—Employer Contributions for Social Insurance by Industry Group [Millions of dollars] 1,954 185 1,124 14 465 1,365 963 402 850 6,919 20,419 7,636 1,933 645 732 1,503 880 1,706 237 1,703 1,804 9,000 1,522 591 644 1,496 9,503 1,231 2,092 4,991 2,992 1,999 3,894 882 18,550 4,218 3,416 1,845 1,571 802 14,332 13,466 7,184 6,282 866 -462 1. Equals the number of full-time equivalent employees plus the number of self-employed persons. Unpaid family workers are not included. 2. Reflects the r e c t i f i c a t i o n of air couriers from trucking and warehousing to transportation by air. 3. Consists of museums, botanical and zoological gardens; engineering and management services; and services, not elsewhere classified. 4. Includes Coast Guard. 5. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory workers employed temporarily in the United States. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 85 1995 1996 1997 1998 264,453 275,425 290,149 305,996 Domestic industries 264,453 275,425 Private industries 223,126 233,535 247,336 261,495 Agriculture, forestry, and fishing 2,773 2,893 2,974 3,067 Mining 2,197 2,246 2,382 2,377 14,265 15,074 16,073 17,295 53,618 33,108 20,510 54,524 33,751 20,773 57,018 35,494 21,524 58,629 36,712 21,917 19,200 11,626 4,353 3,221 19,971 12,051 4,638 3,282 20,978 12,590 5,048 3,340 22,162 13,298 5,468 3,396 Line Employer contributions for social insurance Construction Manufacturing Durable goods Nondurable goods : Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 305,996 Wholesale trade 18,422 19,144 20,321 21,533 Retail trade 27,501 28,304 29,287 30,505 25,592 Finance, insurance, and real estate 19,717 21,467 23,394 Services 65,433 69,912 74,909 80,335 Government 41,327 41,890 42,813 44,501 Rest of the world NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 86 • April 2000 SURVEY OF CURRENT BUSINESS Table 6.11C—Other Labor Income by Industry Group and by Type Table 6.12C.—Nonfarm Proprietors' Income by Industry Group [Millions of dollars] [Millions of dollars] Line 1995 1996 1997 1998 496,964 490,018 500,876 515,679 Domestic industries 496,964 490,018 500,876 515,679 Private industries 336,813 323,287 330,666 343,129 Agriculture, forestry, and fishing 2,253 2,352 2,376 2,406 Mining 3,519 3,323 3,406 3,424 Other labor income By industry group Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities Transportation Communications Electric, gas, and sanitary services , Wholesale trade Retail trade Finance, insurance, and real estate Services Government Other 3 Personal contributions to publicly administered government employee retirement plans. Federal civilian State and local 1998 504,219 532,237 Agricultural services, forestry, and fishing 7,847 6,796 7,762 8,745 Mining 7,128 7,826 9,712 9,971 Construction 56,072 59,857 61,894 66,252 Manufacturing Durable goods Nondurable goods 30,359 13,297 17,062 27,555 11,903 15,652 26,433 11,664 14,769 27,619 12,700 14,919 Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 37,477 15,895 10,498 11,084 41,588 16,338 10,965 14,285 43,630 17,419 10,862 15,349 43,928 18,849 9,403 15,676 21,732 21,963 92,794 57,986 34,808 95,571 60,700 34,871 98,568 63,049 35,519 34,427 19,256 8,781 6,390 33,480 18,895 8,554 6,031 33,713 18,976 8,811 5,926 34,564 19,383 9,249 5,932 Wholesale trade 13,987 14,704 13,390 14,980 Retail trade 41,105 42,936 45,159 46,417 23,129 22,925 24,056 25,310 25,561 24,857 25,153 25,133 30,153 29,885 30,962 33,401 87,642 92,745 160,151 166,731 170,210 172,550 Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services ... Health services Legal services Other 1 494,582 487,485 498,205 512,718 185,999 85,439 100,560 35,690 23,154 41,716 177,985 71,306 106,679 36,622 26,876 43,181 185,814 76,544 109,270 38,544 26,670 44,056 186,967 78,435 108,532 39,139 26,293 43,100 308,583 266,103 256,621 9,482 39,879 2,601 309,500 267,156 257,159 312,391 325,751 9,997 39,798 2,546 10,279 38,968 98,360 2,490 2,533 2,671 2,961 637,250 322,073 188,400 133,673 663,710 344,857 203,514 141,343 706,206 747,128 402,849 241,051 161,798 40,068 28,111 44,049 30,596 77,647 315,177 280,466 264,449 16,017 33,257 1,454 41,499 29,174 70,670 318,853 283,183 266,179 17,004 33,038 2,632 27,589 8,395 19,194 377,573 225,281 152,292 328,633 45,743 31,446 84,609 344,279 293,465 309,061 276,360 290,792 49,829 61,408 70,345 74,382 203,956 2,248 15,151 45,604 10,053 5,333 5,033 7,418 50,061 33,605 29,450 213,317 2,707 14,863 50,520 9,931 4,942 5,192 7,442 50,526 36,268 30,926 225,894 2,188 16,102 56,654 9,536 4,852 4,025 6,864 50,146 39,255 36,272 239,943 2,636 16,792 60,694 10,861 5,540 4,211 7,687 51,169 41,946 38,407 1. Consists of educational services; social services; museums, botanical and zoological gardens; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and miscellaneous services, not elsewhere classified. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). Table 6.13C—Noncorporate Capital Consumption Allowances by Industry Group [Millions of dollars] 10,377 38,758 2,318 2,382 65,494 Finance, insurance, and real estate 270,933 284,675 260,654 274,298 Line Noncorporate capital consumption allowances Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing 1995 198,523 16,813 14,625 2,188 1996 1997 211,374 229,947 17,726 15,403 2,324 1998 243,671 18,834 16,228 2,606 19,916 17,117 6,657 7,261 Mining 5,970 Construction 5,278 5,811 6,415 Manufacturing Durable goods Nondurable goods 6,260 3,214 3,046 8,610 5,315 3,296 9,871 6,107 3,764 10,527 6,524 4,003 14,601 4,799 6,392 3,409 18,710 5,353 10,034 3,322 21,983 6,257 12,249 3,477 22,402 6,681 12,147 3,575 2,445 Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 17,105 32,646 2,522 18,269 32,618 Wholesale trade 2,016 1,760 2,289 29,192 30,738 32,027 Retail trade 7,761 8,165 8,449 8,564 8,917 20,275 9,311 21,427 9,544 22,483 Finance, insurance, and real estate Finance and insurance Real estate Owner-occupied nonfarm housing Other 109,909 2,476 107,432 46,271 61,161 114,261 2,782 111,479 48,805 62,674 121,490 3,603 117,887 52,130 65,757 129,979 3,879 126,101 55,799 70,301 Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Health services 29,916 4,057 1,532 9,320 2,479 512 852 1,145 4,110 1,732 4,176 30,445 4,186 1,658 9,106 2,304 543 432 1,418 4,605 1,962 4,231 33,959 4,461 1,585 10,793 3,139 489 430 1,647 4,788 1,922 4,704 35,678 2,600 1. Consists of civil service, foreign service, Public Health Service officers, Tennessee Valley Authority, Thrift Savings Fund, and several small retirement programs. 2. Includes the Coast Guard. 3. Consists of judicial fees paid to jurors and to witnesses, compensation of prison inmates, and marriage fees paid to justices of the peace. N O T E . - Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 1997 475,987 20,926 Addenda: Benefits paid by pension and welfare funds Pension and profit-sharing Private pension and profit-sharing Publicly administered government employee retirement plans. Federal civilian' Federal military2 State and local Private welfare funds Group insurance Group health insurance Group life insurance Workers'compensation Supplemental unemployment 1996 447,760 21,238 By type Pension and profit-sharing Private pension and profit-sharing Publicly administered government employee retirement plans Federal civilian' Federal military2 State and local Private welfare funds Group insurance Group health insurance Group life insurance Workers'compensation Supplemental unemployment Line 108,891 73,128 35,763 Rest of the world Employer contributions to pension and welfare funds 1995 Nonfarm proprietors' income .. 1. Consists of educational services; social services; museums, botanical and zoological gardens; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). SURVEY OF CURRENT BUSINESS Table 6.14C—Inventory Valuation Adjustment to Nonfarm Incomes by Legal Form of Organization and Industry Group April 2000 • 87 Table 6.15C—Net Interest by Industry Group [Millions of dollars] [Millions of dollars] Line Inventory valuation adjustment to nonfarm incomes Corporate business 1995 2,667 7,873 22,148 3,071 7,353 20,913 -271 -418 166 734 -86 -152 -25 60 -6,453 264 -6,717 -100 -210 106 5,370 5,790 •^20 3,189 2,260 929 912 568 214 130 12,445 8,112 4,333 •. Retail trade Other Noncorporate business 1998 -19,753 Construction Wholesale trade 1997 -18,284 Mining Manufacturing Durable goods Nondurable goods Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 1996 -631 -549 144 4 -226 -6,159 1,013 -3,338 -1,908 -1,877 -203 -1,469 -404 -31 -75 Mining Construction -15 Manufacturing Durable goods Nondurable goods Wholesale trade Retail trade Domestic industries Line 1995 1 389,821 386,277 412,490 435,665 1996 1997 1998 2 456,994 464,506 511,364 540,345 Agriculture, forestry, and fishing 3 9,981 10,162 10,756 11,027 Mining 4 1,806 1,913 2,148 2,331 Construction .... 5 363 535 659 900 Manufacturing .. Durable goods Nondurable goods 6 7 8 48,884 12,002 36,882 42,576 6,913 35,664 44,570 8,823 35,748 44,598 6,989 37,609 1,387 956 330 101 Transportation and public utilities Transportation Communications Electric, gas, and sanitary services 9 10 11 12 42,286 6,609 13,389 22,288 43,745 6,419 14,678 22,649 47,299 6,991 16,802 23,506 50,562 7,527 17,871 25,164 2,263 5,934 Wholesale i a d e 13 9,036 8,559 11,739 12,261 758 495 Retail trade 14 14,925 15,946 16,598 17,831 90 -142 520 1,235 23 100 Finance, insurance, and real estate Finance Real estate Other 15 16 17 18 315,801 -12,409 343,006 -14,795 325,696 -3,521 350,608 -21,391 360,785 12,985 368,904 -21,104 382,427 21,458 385,446 -24,478 16,810 18,410 -30 156 169 -13 -167 17 Net interest -5 13 41 40 1 359 258 101 -184 46 121 316 -232 -296 80 146 -455 Services , Rest of the world Receipts from the rest of the world Less: Payments to the rest of the world 19 13,913 15,373 20 -67,174 -78,228 -98,874 -104,681 21 22 102,139 169,313 103,181 181,409 121,103 219,977 135,014 239,695 NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 301 -205 Other -569 NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). Table 6.16C—Corporate Profits by Industry Group [Billions of dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1997 1998 IV Corporate profits with inventory valuation and capital consumption adjustments. Domestic industries Financial Nonfinancial 668.8 754.0 838.5 848.4 576.8 653.2 730.4 748.4 134.3 442.5 144.1 509.1 167.3 563.1 171.7 576.7 804.4 832.0 863.2 854.3 858.4 849.4 846.8 839.0 886.9 880.5 884.1 789.4 702.4 719.0 753.5 746.7 750.6 742.0 760.2 740.7 782.6 777.1 776.0 821.9 186.6 602.8 158.9 543.5 165.0 553.9 170.0 583.5 175.2 571.6 176.3 574.3 173.0 569.0 169.5 590.7 168.0 572.7 185.4 597.2 177.6 599.5 182.0 594.0 201.5 620.3 919.4 92.0 100.9 108.1 100.0 103.3 101.9 113.1 109.8 107.6 107.8 107.4 86.6 98.3 104.3 103.3 108.1 97.5 Receipts from the rest of the world Less: Payments to the rest of the world Corporate profits with inventory valuation adjustment. 128.4 36.3 140.6 39.8 159.7 51.6 148.4 48.4 166.2 62.8 155.1 53.2 163.1 50.1 166.6 56.9 153.9 46.3 154.9 47.1 154.9 47.5 137.1 50.5 146.8 48.5 157.0 52.7 164.1 60.8 169.5 61.4 174.0 76.5 650.2 729.4 803.2 802.8 835.6 772.6 797.7 827.0 815.5 818.4 799.9 787.4 831.4 822.2 827.1 861.4 Domestic industries Financial Federal Reserve banks Other Nonfinancial Manufacturing Durable goods Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other Nondurable goods Food and kindred products Chemicals and allied products Petroleum and coal products Other Transportation and public utilities Transportation Communications Electric, gas, and sanitary services Wholesale trade Retail trade Other 558.2 154.3 22.2 132.1 403.8 166.1 77.6 6.9 11.8 12.9 21.4 _3 2*9 88.5 26.7 26.7 5.5 29.5 85.8 11.4 33.7 40.7 29.4 44.1 78.5 628.6 165.3 21.8 143.5 463.3 181.2 87.0 5.4 14.4 15.0 20.2 3.7 28.4 94.2 21.6 25.5 13.3 33.7 91.4 15.6 35.2 40.6 42.6 52.9 95.2 695.1 184.2 23.3 160.9 510.9 185.6 93.3 5.1 16.7 13.5 22.1 4.9 30.9 92.3 22.1 26.0 16.0 28.2 104.7 18.5 47.4 38.8 46.8 63.7 110.1 702.8 191.3 24.6 166.7 511.5 168.4 95.1 5.4 17.3 14.6 18.2 7.5 32.2 73.3 17.0 20.6 8.3 27.3 109.0 19.4 49.3 40.2 47.2 69.8 117.1 732.2 208.1 25.6 182.5 524.2 165.6 98.6 .9 18.9 17.9 20.7 10.2 30.1 66.9 16.0 19.9 1.5 29.6 116.3 18.1 55.4 42.7 42.4 72.9 127.1 670.7 176.6 22.6 154.0 494.0 179.0 84.1 4.3 15.6 9.5 21.7 4.8 28.2 94.9 21.8 25.9 17.3 29.9 100.1 18.0 42.0 40.1 48.9 62.4 103.6 684.7 181.9 23.0 158.9 502.8 186.6 92.1 4.9 16.2 13.6 21.6 3.3 32.5 94.5 21.1 25.6 18.1 29.7 101.8 18.6 44.3 38.8 48.0 60.9 105.5 717.3 186.5 23.6 162.9 530.7 195.4 104.4 6.0 18.0 16.4 24.4 7.4 32.2 91.1 21.3 27.0 15.3 27.4 108.2 19.1 52.1 37.0 47.4 66.1 113.6 708.0 191.8 24.2 167.7 516.1 181.4 92.6 5.4 17.2 14.7 20.6 4.1 30.5 88.8 24.5 25.5 13.1 25.7 108.8 18.3 51.2 39.3 42.8 65.4 117.8 710.5 194.9 24.5 170.4 515.6 170.8 87.3 6.1 15.1 8.8 18.3 7.8 31.2 83.5 19.5 24.6 11.3 28.1 110.9 19.0 51.6 40.3 47.9 71.0 115.0 192.2 24.4 167.8 506.0 169.2 89.7 5.4 17.0 14.6 16.2 5.7 30.9 79.5 20.1 18.8 11.0 29.5 105.0 18.9 47.8 38.4 50.1 69.7 111.9 713.2 189.5 24.7 164.8 523.7 171.9 97.2 5.0 19.9 15.7 16.9 6.6 33.1 74.7 21.3 19.0 6.8 27.5 113.0 20.1 51.2 41.7 49.7 69.3 119.9 188.6 24.7 163.9 500.6 161.7 106.3 5.0 17.0 19.4 21.4 9.8 33.7 55.5 7.1 20.0 4.1 24.2 106.9 19.7 46.8 40.5 41.2 69.0 121.7 727.1 205.3 24.3 180.9 521.9 171.0 100.5 1.7 19.4 16.6 20.5 10.7 31.6 70.5 17.2 25.1 -.9 29.0 111.9 18.3 52.2 41.5 43.4 75.7 119.8 718.9 198.3 24.5 173.7 520.6 167.8 100.7 1.2 19.0 18.6 19.6 10.4 32.0 67.0 18.6 20.8 -.3 28.0 107.9 17.2 52.5 38.2 44.3 75.4 125.2 719.0 203.9 25.5 178.4 515.1 163.1 94.4 .4 19.4 17.1 20.8 9.5 27.2 68.7 18.7 17.4 3.6 29.0 117.3 17.7 56.4 43.2 39.1 67.7 127.9 763.9 224.9 28.1 196.8 539.0 160.3 99.0 .5 17.6 19.3 21.9 10.1 29.5 61.4 9.2 16.2 3.7 32.2 128.0 19.3 60.7 48.0 42.8 72.6 135.3 92.0 100.9 108.1 100.0 103.3 101.9 113.1 109.8 107.6 107.8 107.4 86.6 98.3 104.3 103.3 108.1 97.5 Rest of the world Rest of the world NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification. 88 • April 2000 SURVEY OF CURRENT BUSINESS Table 6.17C—Corporate Profits Before Tax by Industry Table 6.18C—Federal, State, and Local Corporate Profits Tax Liability by Industry [Millions of dollars] Line Corporate profits before tax Domestic industries 1995 1996 781,897 576,442 625,492 687,793 681,863 1,842 561 1,281 2,950 Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 4,517 509 8,124 -360 577 7,492 915 Construction 176 2,872 960 3,400 3,725 1,358 1,592 11,030 [Millions of dollars] 1998 668,454 726,345 795,880 Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing : 1997 5,234 Line Corporate profits tax liability Domestic industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 1995 223,645 238,254 668 440 228 736 488 248 721 1,314 383 137 522 272 1,539 124 189 944 282 2,359 24,506 25,807 182,426 155,955 81,184 3,138 2,963 4,390 4,846 14,184 11,860 18,640 3,750 6,996 6,927 3,490 91,027 87,027 91,399 459 94,605 22,178 1,791 2,150 2,420 8,457 11,891 25,838 14,531 5,068 281 85,894 92,023 103,816 107,567 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 11,613 3,184 16,157 3,025 584 4,445 662 5,168 772 1,501 17,963 18,462 Communications Telephone and telegraph Radio and television 33,604 30,543 3,061 35,012 47,189 49,004 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services Electric, gas, and sanitary services 40,677 38,664 40,101 Communications Telephone and telegraph Radio and television 12,294 10,567 1,727 Electric, gas, and sanitary services 14,065 9,416 12,503 Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products .. Leather and leather products Transportation and public utilities 172,518 77,298 5,970 2,259 4,811 7,585 12,557 11,079 20,302 73 4,282 4,578 3,802 95,220 27,953 1,749 1,920 2,491 13,494 9,163 28,057 5,916 4,018 423 3,595 444 2,166 788 1,013 Wholesale trade 35,546 Retail trade 47,471 Finance, insurance, and real estate Depository institutions Federal Reserve banks Commercial and mutual depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 1 Rest of the world 2 Receipts from the rest of the world Less: Payments to the rest of the world 160,062 99,679 22,202 77,477 19,594 1,806 24,444 4,129 1,674 8,736 51,327 2,072 2,510 18,917 170 996 -395 1,315 25,742 15,198 2,892 823 6,829 68,928 34,562 450 40,854 41,588 54,806 171,827 99,677 21,784 77,893 22,356 5,121 28,529 4,453 3,369 8,322 56,453 2,544 2,327 20,679 368 44,495 41,308 62,936 69,256 193,541 203,207 15,477 3,044 677 7,817 92,012 100,853 108,087 100,034 128,354 36,342 140,623 39,770 159,713 51,626 148,425 48,391 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. 2. Consists of receipts by all U.S. residents, including both corporations and persons, of dividends from their incorporated foreign affiliates, their share of reinvested earnings of their incorporated foreign affiliates, and earnings of unincorporated foreign affiliates (line 75), net of corresponding payments (line 76). NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 2,700 3,171 3,462 2,714 70,608 75,124 68,114 Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries 30,805 1,687 742 1,382 2,118 3,166 4,623 8,636 2,347 2,091 2,527 1,486 34,309 791 912 1,425 1,616 3,671 5,627 9,817 3,193 3,036 3,006 1,215 37,681 39,029 Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products ... Leather and leather products 34,812 7,890 36,299 8,028 1,018 704 842 2,270 37,443 29,085 Manufacturing 1,058 625 835 3,354 3,559 12,394 4,007 936 Transportation and public utilities Retail trade Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 1 30,601 31,654 31,268 30,812 4,242 1,107 4,898 5,416 5,325 11,957 11,829 13,404 13,895 13,658 10,548 10,318 9,345 14,012 15,806 17,187 77,610 79,131 85,485 94,617 49,080 23,389 44,517 20,083 24,434 13,711 15,772 25,691 4,530 3,435 67 5,980 1,087 91 1,243 287 986 292 268 Wholesale trade 4,590 11,689 154 59 Depository institutions Federal Reserve banks Commercial and mutual depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices 1,236 -155 2,439 27,015 240,240 65,617 Construction Finance, insurance, and real estate 61,643 1998 210,976 21,932 Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries 1997 223,645 238,254 240,240 175,789 Manufacturing 17,265 1996 210,976 1,106 69 1,364 248 1,557 292 262 13,352 12,513 4,959 4,798 17,187 866 1,090 1,422 19,193 911 10,547 637 456 12,246 730 367 4,915 305 165 339 834 4,591 3,017 215 126 1,233 3,898 263 134 231 578 4,350 2,948 207 122 1,073 1,796 2,957 Rest of the world 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). April 2000 • 89 SURVEY OF CURRENT BUSINESS Table 6.20C—Net Corporate Dividend Payments by Industry Table 6.19C—Corporate Profits After Tax by Industry [Millions of dollars] [Millions of dollars] Line Corporate profits after tax Domestic industries 1997 1998 457,478 502,700 557,626 541,657 365,466 401,847 449,539 441,623 1995 1996 Line Net corporate dividends 1995 1996 1997 1998 254,207 297,711 333,690 348,595 221,634 257,325 284,758 314,647 Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing 1,174 121 1,053 2,214 870 1,344 2,679 3,032 Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing 1,825 1,083 742 1,838 1,014 824 2,412 2,584 Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 3,203 126 39 2,350 688 6,585 -984 388 6,548 633 8,671 4,248 Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 3,588 746 361 1,989 3,436 504 426 1,893 4,273 4,059 14,565 18,761 21,044 23,093 Construction 106,901 105,181 107,302 87,841 Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries 46,493 4,283 1,517 3,429 5,467 9,391 6,456 11,666 -2,274 2,191 2,051 2,316 46,875 2,347 2,051 2,965 3,230 10,513 6,233 8,823 557 3,960 3,921 2,275 53,346 47,998 Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products .. Leather and leather products 60,408 20,063 58,306 14,150 773 1,446 1,578 6,187 7,301 14,149 8,551 3,981 190 53,956 Construction Manufacturing Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 691 1,295 1,656 10,140 5,604 15,663 1,909 3,082 305 496 745 Communications Telephone and telegraph Radio and television 21,310 19,976 1,334 Electric, gas, and sanitary services 26,612 Wholesale trade 26,130 Retail trade 34,968 Finance, insurance, and real estate Depository institutions Federal Reserve banks Commercial and mutual depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate ... Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services 1 Other Rest of the world 2 Receipts from the rest of the world Less: Payments to the rest of the world 72,548 76,755 11,259 1,919 515 3,081 414 3,611 480 1,239 12,547 13,137 21,660 35,232 37,175 24,769 26,443 55,293 7,371 2,077 364 2,352 157 1,180 22,049 -389 27,450 31,040 40,794 82,452 34,177 31,963 47,130 52,069 108,056 50,599 -1,187 51,786 15,064 -1,629 7,257 3,263 584 7,314 55,160 1,701 53,459 17,397 323 9,336 3,542 1,573 5,365 40,780 1,435 2,054 15,019 -93 862 44,207 1,814 1,960 15,764 63 1,071 -£26 737 21,392 12,250 2,685 701 5,756 1,605 22,424 12,460 2,829 551 6,584 92,012 100,853 128,354 36,342 39,843 108,590 47,932 54,032 108,087 159,713 51,626 100,034 148,425 48,391 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. 2. Consists of receipts by all U.S. residents, including both corporations and persons, of dividends from their incorporated foreign affiliates, their share of reinvested earnings of their incorporated foreign affiliates, and earnings of unincorporated foreign affiliates (line 75), net of corresponding payments (line 76). NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment ....: Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products...: Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products .. Leather and leather products Transportation and public utilities Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services Communications Telephone and telegraph Radio and television Electric, gas, and sanitary services 492 613 6,791 7,786 61,390 21,634 1,677 646 953 1,806 3,687 1,828 3,072 4,079 844 2,227 815 34,702 48,763 61,671 47,306 46,807 48,766 5,304 2,176 5,956 1,579 125 1,751 488 442 403 1,168 6,127 5,789 22,300 20,868 1,432 22,213 23,892 92 1,360 326 344 359 647 19,873 18,788 1,085 19,888 16,911 Finance, insurance, and real estate 49,876 Receipts from the rest of the world 2 Less: Payments to the rest of the world 3 27,081 45,065 Retail trade Rest of the world 10,940 96,373 46,164 14,797 -1,048 991 13,136 Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 1 68,331 22,167 1,400 557 1,293 1,446 4,407 428 5,080 3,185 1,446 1,643 1,282 10,229 75,844 39,756 9,802 -600 941 1,091 2,864 3,493 14,734 5,806 1,507 118 Wholesale trade Depository institutions Federal Reserve banks Commercial and mutual depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices -494 140,623 39,770 Domestic industries 20,351 231 20,120 5,750 2,184 12,988 2,626 6,337 -360 23,052 960 999 9,125 529 380 367 1,476 9,216 4,442 957 302 5,621 16,324 3,242 1,409 94 19,050 15,371 16,925 68,157 18,467 19,085 16,775 17,536 19,048 20,402 77,776 81,590 31,594 32,397 256 28,552 4,277 3,104 13,932 3,372 8,380 6,284 28,175 935 972 10,263 657 350 1,073 2,625 11,300 4,989 3,515 1,156 253 4,902 32,573 40,386 48,932 33,948 58,420 25,847 68,975 28,589 80,082 31,150 69,305 35,357 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. 2. Consists of (1) receipts by U.S. residents of dividends from foreign corporations, plus (2) earnings distributed by unincorporated foreign affiliates to their U.S. parents. 3. Consists of (1) payments by U.S. corporations of dividends to foreign residents, plus (2) earnings distributed by unincorporated U.S. affiliates to their foreign parents. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 90 • April 2000 SURVEY OF CURRENT BUSINESS Table 6.22C—Corporate Capital Consumption Allowances by Industry Table 6.21 C.—Undistributed Corporate Profits by Industry [Millions of dollars] [Millions of dollars] Line Undistributed corporate profits Domestic industries Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels Construction Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products... Leather and leather products 1997 1998 203,271 223,936 193,062 143,8321 144,522 164,781 126,976 376 -144 520 267 448 3,149 -1,488 -38 4,655 4,398 189 10,815 12,153 31,458 -6,532 26,265 13,296 5,193 -21,828 1995 -«51 -962 311 -385 -620 -322 361 1996 196 20 7,774 10,975 45,511 24,859 2,606 871 2,476 3,661 5,704 4,628 8,594 -6,353 1,347 -176 1,501 36,850 24,708 947 1,494 1,672 1,784 6,106 5,805 3,743 -2,628 2,514 2,278 20,652 10,261 1,291 354 12,142 565 7,276 2,111 929 -3,897 1,575 187 993 -647 1,821 455 510 2,521 1,680 -2,175 5,309 25,741 27,989 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 2,067 -99 272 992 5,303 340 390 1,330 -74 3,169 77 71 6,420 7,348 Communications Telephone and telegraph Radio and television 1,437 1,188 -640 13,019 13,283 1,181 249 -1,821 6,724 8,400 6,302 7,358 Electric, gas, and sanitary services Wholesale trade Retail trade Finance, insurance, and real estate Depository institutions Federal Reserve banks Commercial and mutual depository institutions Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 1 12,994 15,669 18,057 23,869 32,576 30,248 -1,418 31,666 9,314 -3,813 -6,731 637 -5,753 7,674 Receipts from the rest of the world 2 Less: Payments to the rest of the world 3 24,539 4,795 3,193 1,602 4,939 3,198 1,741 4,985 5,495 Mining Metal mining Coal mining Oil and gas extraction Nonmetallic minerals, except fuels 9,406 9,860 11,619 13,005 1,471 1,268 5,353 1,314 1,373 1,216 5,636 1,635 Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electric equipment Motor vehicles and equipment Other transportation equipment Instruments and related products Miscellaneous manufacturing industries Nondurable goods Food and kindred products Tobacco products Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and miscellaneous plastics products Leather and leather products 17,402 30,280 475 1,055 5,894 -622 879 988 5,501 482 -993 -739 12,176 7,808 1,728 399 2,241 721 -1,567 -1,020 11,124 7,471 1,673 298 1,682 13,595 14,825 213,791 227,344 107,442 3,837 1,146 3,773 6,812 7,044 11,007 26,218 32,147 7,624 5,518 2,316 117,387 3,898 1,286 3,803 6,707 8,004 10,296 30,230 36,813 7,334 6,088 2,928 126,256 134,276 81,409 10,327 1,620 87,597 87,535 93,068 2,940 1,324 9,380 4,877 20,801 25,261 4,322 557 16,053 2,039 2,867 1,501 9,096 5,343 23,389 22,493 4,604 212 112,732 111,809 116,667 126,897 Transportation Railroad transportation Local and interurban passenger transit Trucking and warehousing Water transportation Transportation by air Pipelines, except natural gas Transportation services 28,879 31,098 33,804 10,131 1,691 9,127 64 2,152 29,912 4,789 852 10,570 1,577 9,725 131 2,268 Communications Telephone and telegraph Radio and television 43,576 36,922 6,654 45,052 38,555 6,497 49,563 53,900 Electric, gas, and sanitary services 4,989 725 36,006 39,193 46,827 52,661 56,268 14,427 Retail trade 35,725 40,077 43,444 47,389 31,667 Finance, insurance, and real estate 66,184 70,050 82,394 89,964 31,412 245 31,167 5,821 1,769 14,133 34,671 256 74,881 81,299 27,000 21,635 -594 60,467 59,155 66,086 71,648 11,181 79,631 20,476 79,120 13,034 NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). 12,064 204,984 36,845 13,120 -2,781 -4,596 170 -6,807 -919 16,338 10,850 188,851 41,786 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. 2. Consists of receipts by all U.S. residents of their share of the reinvested earnings of their incorporated foreign affiliates and reinvested earnings of their unincorporated foreign affiliates. 3. Consists of payments to foreign residents of their share of the reinvested earnings of their incorporated U.S. affiliates and reinvested earnings of their unincorporated U.S. affiliates. 662,486 Agriculture, forestry, and fishing Farms Agricultural services, forestry, and fishing 40,277 24,907 16,032 69,934 10,495 1997 614,037 Wholesale trade 26,352 1,445 17,728 Rest of the world 1996 568,072 Transportation and public utilities 13,063 -169 836 137 98 1995 530,744 Construction 10,228 Transportation and public utilities Line Corporate capital consumption allowances Depository institutions Federal Reserve banks Commercial and mutual depository institutions .. Nondepository institutions Security and commodity brokers Insurance carriers Insurance agents, brokers, and service Real estate Holding and other investment offices Services Hotels and other lodging places Personal services Business services Auto repair, services, and parking Miscellaneous repair services Motion pictures Amusement and recreation services Other services Health services Legal services Educational services Other 1 936 8,405 3,708 60,415 3,543 1,801 23,671 12,155 751 649 3,303 14,542 7,760 735 383 5,664 34,415 6,696 2,604 13,825 1,029 8,641 2,584 67,462 4,294 1,775 29,417 12,427 809 787 2,566 15,387 7,741 834 513 6,299 1. Consists of social services; membership organizations; engineering and management services, except for commercial research and testing services and for management and public relations; and services, not elsewhere classified. NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification (SIC). April 2000 • SURVEY OF CURRENT BUSINESS 91 7. Quantity and Price Indexes. Table 7.1.—Quantity and Price Indexes for Gross Domestic Product [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1997 1999 I II 1999 1998 III IV I II III IV I II III IV Gross domestic product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 1 2 3 4 94.72 96.55 98.10 98.10 100.00 100.00 100.00 100.00 106.24 104.25 101.91 101.91 112.12 108.74 103.11 103.11 118.47 113.25 104.55 104.61 104.00 102.63 101.33 101.34 105.71 103.87 101.77 101.78 107.06 104.85 102.11 102.10 108.19 105.63 102.44 102.42 110.21 107.40 102.68 102.62 111.14 107.98 102.96 102.93 112.60 108.99 103.30 103.31 114.52 110.58 103.51 103.57 116.12 111.58 104.03 104.07 117.06 112.10 104.37 104.43 119.00 113.65 104.65 104.71 121.69 115.67 105.16 105.21 Personal consumption expenditures: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 5 6 7 8 94.87 96.91 97.90 97.90 100.00 100.00 100.00 100.00 105.48 103.43 101.98 101.98 111.67 108.48 102.93 102.93 119.47 114.25 104.57 104.58 103.69 102.13 101.53 101.53 104.37 102.52 101.81 101.81 106.33 104.12 102.13 102.13 107.52 104.96 102.44 102.44 109.11 106.45 102.51 102.50 111.05 108.04 102.79 102.78 112.45 109.10 103.07 103.07 114.06 110.35 103.37 103.36 116.29 112.10 103.74 103.74 118.39 113.50 104.32 104.31 120.36 114.86 104.79 104.79 122.85 116.52 105.43 105.43 Durable goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 9 10 11 12 95.66 94.66 101.06 101.06 100.00 100.00 100.00 100.00 104.28 106.63 97.79 97.79 113.26 118.66 95.45 95.45 123.06 132.32 93.00 93.00 103.18 104.15 99.05 99.06 101.83 103.76 98.12 98.14 105.74 108.64 97.31 97.33 106.37 109.98 96.70 96.72 110.17 114.35 96.32 96.35 112.56 117.42 95.83 95.85 113.05 118.62 95.29 95.31 117.25 124.26 94.34 94.36 119.88 127.95 93.67 93.69 121.92 130.76 93.22 93.24 123.58 133.21 92.75 92.77 126.87 137.35 92.35 92.37 Nondurable goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 13 14 15 16 95.12 97.14 97.93 97.93 100.00 100.00 100.00 100.00 104.30 102.92 101.35 101.35 108.56 107.07 101.40 101.40 117.09 112.84 103.76 103.77 103.59 102.22 101.34 101.33 103.37 102.17 101.17 101.17 104.97 103.60 101.32 101.32 105.27 103.67 101.55 101.55 106.39 105.13 101.20 101.20 108.08 106.85 101.15 101.15 109.05 ' 110.73 107.49 108.80 101.46 101.78 101.45 101.77 113.58 111.15 102.19 102.19 115.93 112.05 103.47 103.47 117.78 113.04 104.20 104.19 121.08 115.12 105.18 105.18 Services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 17 18 19 20 94.59 97.26 97.25 97.25 100.00 100.00 100.00 100.00 106.33 103.06 103.17 103.17 112.95 107.26 105.31 105.31 119.98 111.59 107.51 107.52 103.85 101.68 102.14 102.13 105.40 102.44 102.90 102.89 107.16 103.50 103.54 103.54 108.91 104.63 104.10 104.09 110.30 105.59 104.47 104.47 112.28 106.85 105.09 105.08 114.08 108.09 105.56 105.55 115.13 108.50 106.12 106.11 116.97 109.61 106.72 106.71 118.95 111.01 107.16 107.16 121.04 112.36 107.73 107.73 122.95 113.38 108.45 108.44 21 22 23 24 92.04 91.79 100.29 100.28 100.00 100.00 100.00 100.00 111.35 111.51 99.84 99.85 123.22 124.52 98.96 98.95 130.58 131.79 98.79 99.08 106.79 106.75 99.95 100.04 112.03 112.18 99.80 99.86 112.33 112.47 99.89 99.88 114.24 114.66 99.74 99.63 121.86 123.24 99.18 98.88 120.30 121.76 98.93 98.80 123.55 124.82 98.89 98.98 127.17 128.26 98.85 99.14 128.30 129.41 98.87 99.14 127.58 128.74 98.78 99.10 131.57 132.90 98.70 99.00 134.86 136.11 98.80 99.08 25 26 27 28 91.59 91.46 100.14 100.14 100.00 100.00 100.00 100.00 108.47 108.52 99.95 99.95 120.40 121.37 99.20 99.20 130.13 131.15 99.22 99.22 105.06 105.07 100.00 100.00 107.16 107.25 99.92 99.92 110.36 110.33 100.03 100.03 111.27 111.43 99.86 99.86 116.71 117.44 99.38 99.38 119.92 120.95 99.15 99.15 120.53 121.55 99.16 99.16 124.43 125.55 99.11 99.11 127.26 128.30 99.19 99.19 129.28 130.37 99.17 99.17 131.46 132.54 99.19 99.19 132.50 133.40 99.32 99.32 29 30 31 32 91.73 90.89 100.93 100.93 100.00 100.00 100.00 100.00 109.64 110.71 99.04 99.04 121.33 124.80 97.22 97.22 129.72 135.17 95.97 95.97 105.93 106.50 99.45 99.46 108.15 109.05 99.17 99.18 112.04 113.18 98.98 98.99 112.45 114.09 98.56 98.57 118.50 121.03 97.90 97.91 121.27 124.54 97.36 97.37 120.87 124.56 97.03 97.04 124.67 129.06 96.60 96.60 126.74 131.49 96.38 96.39 128.46 133.74 96.04 96.05 131.37 137.23 95.72 95.73 132.31 138.23 95.71 95.72 Structures: Current dollars Chain-type quantity index ... Chain-type price index Implicit price deflator 33 34 35 36 90.95 93.39 97.39 97.39 100.00 100.00 100.00 100.00 112.93 108.45 104.14 104.14 121.25 112.93 107.37 107.37 121.50 110.25 110.21 110.20 110.04 107.55 102.34 102.31 110.16 106.46 103.50 103.48 114.60 109.31 104.85 104.83 116.94 110.48 105.86 105.85 118.87 112.03 106.11 106.11 121.77 113.98 106.85 106.84 120.78 112.05 107.79 107.79 123.56 113.64 108.73 108.73 122.12 111.96 109.07 109.07 121.12 110.44 109.67 109.67 120.94 109.37 110.58 110.58 121.82 109.23 111.52 111.52 Equipment and software: Current dollars Chain-type quantity index ... Chain-type price index Implicit price deflator 37 38 39 40 91.99 90.08 102.12 102.12 100.00 100.00 100.00 100.00 108.54 111.48 97.37 97.37 121.36 129.09 94.01 94.01 132.46 144.55 91.63 91.64 104.55 106.13 98.49 98.51 107.48 109.94 97.74 97.76 111.18 114.52 97.06 97.09 110.95 115.32 96.18 96.21 118.38 124.24 95.25 95.28 121.11 120.90 128.33 129.09 94.34 93.64 94.37 • 93.66 125.05 134.70 92.81 92.83 128.28 138.74 92.44 92.46 130.90 142.47 91.86 91.88 134.85 147.77 91.24 91.25 135.81 149.22 90.99 91.01 Residential: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 41 42 43 44 91.18 93.13 97.91 97.91 100.00 100.00 100.00 100.00 105.09 102.35 102.68 102.68 117.71 111.78 105.30 105.30 131.30 120.06 109.40 109.36 102.59 100.98 101.60 101.59 104.33 102.15 102.14 102.13 105.55 102.30 103.18 103.18 107.89 103.96 103.80 103.78 111.57 107.43 103.88 103.85 116.02 110.91 104.64 104.61 119.55 113.07 105.76 105.73 123.71 115.74 106.93 106.89 128.76 119.30 107.97 107.93 131.66 120.91 108.93 108.89 131.73 119.75 110.04 110.01 133.03 120.27 110.65 110.61 Exports of goods and services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 45 46 47 48 93.64 92.45 101.29 101.28 100.00 100.00 100.00 100.00 110.73 112.46 98.47 98.47 110.54 114.92 96.19 96.19 114.20 119.24 95.76 95.77 106.34 107.77 98.66 98.67 110.42 111.83 98.73 98.74 113.09 114.87 98.44 98.44 113.09 115.36 98.03 98.03 111.46 114.91 96.99 97.00 109.83 113.77 96.53 96.54 108.57 113.32 95.80 95.81 112.32 117.68 95.44 95.45 110.61 116.03 95.33 95.33 111.90 117.17 95.49 95.50 115.36 120.42 95.80 95.80 118.92 123.34 96.41 96.42 Exports of goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 49 50 51 52 94.41 91.97 102.65 102.65 100.00 100.00 100.00 100.00 111.41 114.51 97.29 97.29 110.17 116.89 94.25 94.25 113.03 121.59 92.95 92.96 106.63 108.99 97.81 97.83 110.88 113.66 97.55 97.56 113.97 117.20 97.24 97.25 114.16 118.21 96.57 96.58 112.03 117.38 95.44 95.45 108.64 114.69 94.71 94.72 107.89 115.14 93.70 93.70 112.11 120.35 93.15 93.15 109.04 117.46 92.83 92.83 110.04 118.71 92.69 92.69 114.61 123.43 92.85 92.85 118.42 126.73 93.44 93.44 Exports of services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 53 54 55 56 91.77 93.65 97.99 97.99 100.00 100.00 100.00 100.00 109.10 107.59 101.40 101.40 111.46 110.24 101.10 101.10 117.02 113.75 102.87 102.88 105.65 104.87 100.75 100.74 109.31 107.50 101.69 101.68 110.96 109.38 101.45 101.45 110.48 108.64 101.70 101.70 110.07 109.08 100.92 100.91 112.70 111.45 101.13 101.12 110.23 109.01 101.12 101.11 112.83 111.43 101.26 101.26 114.41 112.56 101.65 101.65 116.39 113.44 102.60 102.60 117.18 113.46 103.28 103.28 120.10 115.55 103.95 103.94 Imports of goods and services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 57 58 59 60 93.74 92.05 101.83 101.83 100.00 100.00 100.00 100.00 109.67 113.72 96.45 96.45 115.86 126.89 91.31 91.31 130.01 141.77 91.64 91.71 105.62 107.43 98.27 98.32 108.27 112.22 96.43 96.48 112.05 116.86 95.85 95.88 112.75 118.35 95.24 95.27 113.35 122.41 92.57 92.60 115.67 126.21 91.63 91.65 115.75 127.81 90.55 90.56 118.68 131.14 90.48 90.50 121.32 135.07 89.81 89.82 127.09 139.69 90.96 90.98 133.59 144.63 92.35 92.36 138.05 147.68 93.46 93.48 Imports of goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 61 62 63 64 93.73 91.43 102.51 102.51 100.00 100.00 100.00 100.00 109.50 114.21 95.88 95.88 115.10 127.62 90.19 90.19 129.78 143.82 90.16 90.24 105.44 107.60 97.94 98,00 108.14 112.90 95.73 95.78 111.87 117.42 95.23 95.28 112.54 118.92 94.61 94.64 112.92 122.87 91.87 91.90 114.92 126.87 90.55 90.58 114.70 128.40 89.30 89.33 117.85 132.33 89.03 89.06 120.53 136.33 88.38 88.41 126.47 141.34 89.46 89.48 133.51 147.08 90.75 90.78 138.62 150.53 92.06 92.09 Imports of services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 65 66 67 68 93.79 95.40 98.31 98.31 100.00 100.00 100.00 100.00 110.60 111.19 99.47 99.47 119.86 123.21 97.29 97.29 131.19 131.74 99.58 99.58 106.57 106.52 100.02 100.04 108.96 108.76 100.16 100.19 112.99 113.99 99.10 99.12 113.87 115.47 98.60 98.62 115.60 120.01 96.32 96.32 119.58 122.83 97.36 97.35 121.24 124.75 97.21 97.19 123.03 125.24 98.26 98.24 125.48 128.81 97.43 97.41 130.28 131.58 99.03 99.02 133.97 132.74 100.95 100.93 135.04 133.85 100.91 100.89 Gross private domestic investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Fixed investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Nonresidential: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator See note at the end of the table. 92 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.1.—Quantity and Price Indexes for Gross Domestic Product—Continued [Index numbers, 1996=100] Seasonally adjusted 1996 1997 1998 1999 98.91 97.56 97.56 100.00 100.00 100.00 100.00 104.15 102.24 101.87 101.87 107.58 104.00 103.44 103.44 114.64 107.89 106.24 106.25 102.38 100.99 101.38 101.38 103.98 102.38 101.57 101.56 104.79 102.80 101.94 101.94 105.45 102.78 102.60 102.60 105.42 102.51 102.84 102.84 107.35 104.02 103.20 103.20 108.21 104.36 103.70 103.69 109.34 105.11 104.03 104.02 111.76 106.43 105.01 105.01 112.93 106.78 105.77 105.77 115.14 107.97 106.64 106.64 118.71 110.39 107.55 107.54 98.11 100.92 97.21 97.21 100.00 100.00 100.00 100.00 101.17 99.84 101.33 101.33 101.33 98.94 102.42 102.42 107.34 101.73 •105.51 105.52 99.74 98.53 101.22 101.23 102.15 100.87 101.27 101.27 101.75 100.52 101.22 101.22 101.04 99.44 101.61 101.61 96.92 102.11 102.11 102.00 99.67 102.34 102.34 101.52 99.10 102.45 102.44 102.84 100.05 102.79 102.79 104.85 99.94 104.93 104.92 105.64 100.46 105.16 105.15 107.20 101.49 105.63 105.63 111.67 105.02 106.34 106.33 National defense: Current dollars Chain-type quantity index . Chain-type price index Implicit price deflator 98.20 101.37 96.88 96.88 100.00 100.00 100.00 100.00 98.74 97.55 101.22 101.22 97.65 95.71 102.03 102.03 102.11 97.43 104.80 104.80 97.20 96.04 101.20 101.20 99.41 98.27 101.16 101.16 99.29 98.23 101.07 101.07 99.06 97.65 101.45 101.44 94.94 93.21 101.86 101.86 97.46 95.69 101.85 101.85 99.34 97.33 102.07 102.07 96.61 102.32 102.32 99.66 95.64 104.21 104.20 99.25 95.01 104.47 104.46 102.36 97.56 104.93 104.92 107.16 101.51 105.58 105.58 Nondefense: Current dollars Chain-type quantity index . Chain-type price index Implicit price deflator 97.92 100.02 97.90 97.90 100.00 100.00 100.00 100.00 106.14 104.52 101.56 101.55 108.87 105.51 103.18 103.18 118.05 110.47 106.86 106.86 104.94 103.61 101.27 101.28 107.74 106.16 101.48 101.48 106.79 105.19 101.53 101.52 105.10 103.10 101.94 101.94 107.21 104.47 102.61 102.62 111.30 107.76 103.27 103.28 105.98 102.74 103.16 103.15 110.99 107.06 103.69 103.67 115.48 108.67 106.28 106.26 118.72 111.52 106.47 106.45 117.10 109.49 106.95 106.95 120.90 112.20 107.76 107.75 95.52 97.71 97.77 97.77 100.00 100.00 100.00 100.00 105.93 103.66 102.19 102.19 111.31 107.00 104.03 104.03 118.99 111.54 106.67 106.68 103.96 102.45 101.48 101.48 105.08 103.28 101.74 101.74 106.61 104.15 102.36 102.35 108.09 104.76 103.18 103.18 109.27 105.82 103.27 103.26 110.54 106.60 103.70 103.70 112.20 107.47 104.41 104.40 113.22 108.11 104.73 104.73 115.88 110.27 105.09 105.09 117.29 110.51 106.14 106.13 119.88 111.81 107.23 107.22 122.91 113.56 108.24 108.23 Line Government consumption expenditures and gross investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Federal: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator State and local: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 1995 1997 NOTE.—Chain-type quantity and price indexes are calculated from weighted averages of the detailed output and prices used to prepare each aggregate and component. Implicit price deflators are weighted averages of the detailed price indexes used to prepare each aggregate and component and are calculated as the ratio of current- to chained- 1999 dollar output multiplied by 100. Percent changes from preceding period for items in this table are shown in table 8.1. Contributions to the percent change in real gross domestic product are shown in table 8.2. Table 7.2.—Quantity and Price Indexes for Gross Domestic Product, Final Sales, and Purchases [Index numbers, 1996=100] Line 1995 1996 1997 1999 1997 1999 1998 Gross domestic product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 94:72 96.55 98.10 98.10 100.00 100.00 100.00 100.00 106.24 104.25 101.91 101.91 112.12 108.74 103.11 103.11 118.47 113.25 104.55 104.61 104.00 102.63 101.33 101.34 105.71 103.87 101.77 101.78 107.06 104.85 102.11 102.10 108.19 105.63 102.44 102.42 110.21 107.40 102.68 102.62 111.14 107.98 102.96 102.93 112.60 108.99 103.30 103.31 114.52 110.58 103.51 103.57 116.12 111.58 104.03 104.07 117.06 112.10 104.37 104.43 119.00 113.65 104.65 104.71 121.69 115.67 105.16 105.21 Final sales of domestic product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 94.66 96.52 98.07 98.07 100.00 100.00 100.00 100.00 105.77 103.76 101.94 101.94 111.63 108.19 103.18 103.18 118.35 113.07 104.67 104.67 103.72 102.35 101.34 101.34 104.93 103.08 101.80 101.80 106.73 104.49 102.15 102.14 107.70 105.10 102.48 102.48 109.36 106.45 102.73 102.73 111.05 107.79 103.02 103.02 112.09 108.43 103.38 103.38 114.04 110.09 103.59 103.59 115.91 111.33 104.12 104.12 117.29 112.26 104.48 104.48 118.94 113.51 104.78 104.78 121.27 115.18 105.29 105.29 Gross domestic purchases: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 94.72 96.45 98.20 98.20 100.00 100.00 100.00 100.00 106.16 104.48 101.61 101.61 112.75 110.16 102.35 102.35 120.35 115.81 103.86 103.92 103.94 102.65 101.25 101.26 105.50 104.00 101.44 101.45 107.00 105.18 101.73 101.73 108.20 106.08 102.03 102.01 110.45 108.33 102.01 101.95 111.84 109.45 102.21 102.19 113.43 110.68 102.48 102.49 115.27 112.17 102.72 102.77 117.36 113.75 103.13 103.18 118.85 114.65 103.62 103.67 121.18 116.40 104.06 104.11 123.99 118.43 104.65 104.70 Final sales to domestic purchasers: Current dollars , Chain-type quantity index Chain-type price index Implicit price deflator 94.66 96.42 98.17 98.17 100.00 100.00 100.00 100.00 105.70 103.99 101.64 101.64 112.27 109.62 102.42 102.42 120.24 115.64 103.97 103.97 103.67 102.38 101.26 101.26 104.73 103.22 101.47 101.47 106.67 104.83 101.77 101.76 107.72 105.55 102.06 102.06 109.61 107.40 102.06 102.06 111.75 109.27 102.27 102.27 112.93 110.13 102.55 102.54 114.80 111.69 102.79 102.78 117.16 113.52 103.22 103.21 119.08 114.82 103.72 103.71 121.13 116.27 104.18 104.17 123.59 117.96 104.78 104.77 89.94 64.41 139.64 139.64 100.00 100.00 100.00 100.00 106.33 145.39 73.14 73.14 117.75 223.72 52.63 52.63 125.17 322.43 38.33 38.82 102.92 125.47 81.45 82.03 105.47 139.12 75.26 75.81 108.96 154.89 69.80 70.34 107.99 162.07 66.05 66.63 113.63 184.17 60.87 61.70 117.75 207.83 55.79 56.66 119.86 239.90 49.13 49.96 119.78 262.98 44.74 45.55 117.92 281.68 41.13 41.86 123.76 308.67 39.39 40.10 130.61 343.43 37.36 38.03 128.39 355.94 35.44 36.07 94.77 96.95 97.76 97.75 100.00 100.00 100.00 100.00 106.24 103.89 102.26 102.26 112.06 107.91 103.85 103.85 118.40 111.99 105.67 105.73 104.01 102.42 101.55 101.56 105.72 103.55 102.09 102.09 107.04 104.42 102.51 102.50 108.19 105.16 102.91 102.89 110.17 106.78 103.23 103.17 111.08 107.22 103.62 103.59 112.53 108.07 104.11 104.13 114.47 109.55 104.44 104.49 116.10 110.47 105.05 105.10 116.99 110.88 105.45 105.51 118.88 112.31 105.80 105.85 121.62 114.28 106.38 106.43 94.77 96.87 97.83 97.83 100.00 100.00 100.00 100.00 106.14 104.06 101.99 101.99 112.61 109.12 103.20 103.20 120.13 114.17 105.16 105.22 103.94 102.42 101.48 101.49 105.48 103.64 101.77 101.77 106.95 104.69 102.16 102.16 108.17 105.50 102.55 102.53 110.33 107.54 102.66 102.60 111.69 108.49 102.98 102.96 113.28 109.55 103.39 103.40 115.11 110.88 103.77 103.82 117.20 112.33 104.29 104.34 118.62 113.05 104.87 104.93 120.92 114.66 105.41 105.46 123.77 116.63 106.08 106.13 97.37 95.25 98.44 100.00 100.00 100.00 102.07 100.72 101.60 103.71 92.35 102.65 105.73 95.82 104.03 101.54 103.91 101.09 101.77 99.24 101.50 102.26 99.64 101.77 102.70 100.08 102.04 103.12 94.99 102.20 103.31 93.11 102.49 103.88 91.46 102.81 104.55 89.82 103.09 105.11 89.11 103.53 105.37 94.67 103.83 105.92 98.32 104.13 106.51 101.20 104.62 Addenda: Final sales of computers 1 : Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Gross domestic product less final sales of computers: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Gross domestic purchases less final sales of computers: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Chain-type price indexes for gross domestic purchases: Food Energy goods and services Gross domestic purchases less food and energy. 1. For some components of final sales of computers, includes computer parts. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. April 2000 • SURVEY OF CURRENT BUSINESS 93 Table 7.3.—Quantity and Price Indexes for Gross National Product and Command-Basis Gross National Product [Index numbers, 1996=100] Line 1995 1996 1997 1999 1997 1999 Gross national product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 94.76 96.59 98.11 98.11 100.00 100.00 100.00 100.00 106.05 104.08 101.89 101.89 111.73 108.38 103.09 103.09 117.94 112.76 104.53 104.59 103.83 102.48 101.31 101.32 105.59 103.77 101.75 101.75 106.84 104.66 102.09 102.08 107.94 105.42 102.42 102.39 109.99 107.21 102.65 102.59 110.88 107.75 102.93 102.91 112.02 108.45 103.28 103.29 114.04 110.13 103.50 103.55 115.67 111.16 104.01 104.06 116.61 111.68 104.36 104.41 118.53 113.22 104.63 104.69 120.96 114.99 105.14 105.19 Less: Exports of goods and services and income receipts from the rest of the world: Chain-type quantity index 93.28 100.00 112.64 114.64 119.16 107.86 112.40 115.22 115.07 115.22 114.47 112.57 116.27 115.20 117.08 120.51 123.86 Plus: Command-basis exports of goods and services and income receipts from the rest of the world: Chain-type quantity index 92.84 100.00 114.44 119.46 123.41 108.14 114.40 117.59 117.63 119.52 119.27 117.71 121.34 120.83 121.74 124.10 126.97 Equals: Command-basis gross national product: Chain-type quantity index 96.52 100.00 104.34 109.07 113.37 102.52 104.06 105.00 105.79 107.83 108.44 109.18 110.85 111.96 112.35 113.74 115.44 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Table 7.4.—Chain-Type Quantity and Price Indexes for Personal Consumption Expenditures by Major Type of Product [Index numbers, 1996=100] Line 1995 1996 1997 1998 1999 1997 1998 Chain-type quantity indexes Personal consumption expenditures Durable goods Motor vehicles and parts Furniture and household equipment Other Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods Gasoline and oil Fuel oil and coal Other Services 96.91 100.00 94.66 100.00 98.88 90.93 93.31 100.00 100.00 100.00 97.14 100.00 98.86 94.48 97.29 96.83 101.03 95.42 95.81 97.34 94.77 93.86 97.95 95.12 96.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.31 96.52 100.00 100.00 97.26 Housing Household operation Electricity and gas Other household operation Transportation Medical care Recreation Other Addenda: Energy goods and services' Personal consumption expenditures less food and energy. 103.43 106.63 102.93 110.66 106.74 102.92 101.68 104.84 101.10 101.64 96.83 104.81 103.06 101.81 103.09 99.04 105.87 105.68 102.04 104.22 104.43 100.10 103.97 108.48 114.25 102.13 102.52 104.12 104.96 106.45 108.04 109.10 110.35 112.10 113.50 114.86 116.52 118.66 132.32 104.15 103.76 108.64 109.98 114.35 117.42 118.62 124.26 127.95 130.76 133.21 137.35 113.87 125.55 115.78 124.15 144.34 127.60 101.86 106.13 105.12 98.65 108.82 104.89 105.68 112.38 107.71 105.51 115.30 109.26 109.84 120.25 112.63 113.82 122.60 115.11 111.87 127.38 116.54 119.94 131.96 118.84 121.09 137.90 123.99 123.77 141.65 125.44 124.68 146.06 127.87 127.07 151.74 133.11 107.07 112.84 102.22 102.17 103.60 103.67 105.13 106.85 107.49 108.80 111.15 112.05 113.04 115.12 104.40 113.00 101.70 102.83 92.82 110.47 101.63 103.59 99.75 100.72 92.14 103.41 101.36 102.38 101.67 102.06 98.52 103.85 102.06 106.24 101.76 101.98 99.96 105.63 101.65 107.15 101.21 101.78 96.69 106.35 104.71 113.01 102.44 103.48 94.28 111.31 107.46 122.52 102.98 102.67 105.38 117.65 108.15 124.38 103.43 103.25 104.76 118.90 102.44 103.50 104.63 106.85 106.29 114.33 101.57 102.87 91.44 112.72 108.50 106.82 121.72 102.28 102.34 101.69 116.12 101.68 102.51 111.30 100.82 102.00 91.46 107.97 105.59 104.11 113.37 101.99 102.99 94.12 109.89 107.26 108.38 122.91 103.30 103.32 102.97 118.57 111.59 109.61 111.01 112.36 111.09 123.02 104.52 105.02 100.06 121.63 113.38 104.28 108.53 100.69 113.87 109.34 104.91 109.27 111.23 106.92 113.33 102.72 120.48 112.51 107.67 119.34 117.72 101.12 100.38 96.85 102.81 104.26 101.19 102.90 102.30 101.50 101.94 98.25 104.47 105.07 101.72 103.78 103.30 102.01 103.55 98.36 107.10 106.40 102.31 104.49 105.21 102.59 106.49 102.69 109.09 106.97 102.91 105.71 106.89 103.35 105.11 96.37 111.06 108.15 103.93 107.58 108.65 104.08 108.65 102.65 112.78 109.45 104.69 108.10 110.24 104.59 111.48 106.12 115.19 109.54 105.15 110.05 112.58 105.10 108.88 97.61 116.46 110.23 105.86 111.36 113.47 105.93 111.57 101.84 118.16 111.01 106.28 114.29 114.63 106.54 113.09 102.72 120.10 112.00 107.06 117.77 117.04 107.25 114.85 105.17 121.39 113.16 108.16 121.63 118.60 107.97 113.79 101.16 122.28 113.88 109.16 123.67 120.61 101.23 109.71 103.07 116.03 98.35 102.47 100.02 100.11 104.76 101.94 105.78 98.63 107.68 102.36 109.15 104.35 110.24 99.57 111.76 102.09 113.71 102.88 115.28 104.30 116.77 102.99 118.37 104.32 93.22 98.93 85.56 97.31 103.47 104.79 105.43 92.75 92.35 99.54 84.33 96.29 99.93 83.10 .96.11 Chain-type price indexes Personal consumption expenditures Durable goods Motor vehicles and parts Furniture and household equipment Other Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods Gasoline and oil Fuel oil and coal Other Services Housing Household operation Electricity and gas Other household operation Transportation Medical care Recreation Other Addenda: Energy goods and services l Personal consumption expenditures less food and energy. 24 97.90 100.00 101.98 102.93 104.57 101.53 101.81 102.13 102.44 102.51 102.79 103.07 103.37 103.74 101.06 100.00 97.79 95.45 93.00 99.05 98.12 97.31 96.70 96.32 95.83 95.29 94.34 93.67 98.37 104.49 100.27 97.93 100.00 100.00 100.00 99.74 95.17 98.99 99.10 90.35 98.27 99.31 84.96 96.68 100.58 97.16 99.62 100.03 95.77 98.87 99.35 94.39 98.92 99.02 93.37 98.57 98.96 92.32 98.94 98.80 91.46 98.52 99.60 89.61 97.97 99.03 88.01 97.66 86.84 97.02 100.00 101.35 101.40 103.76 101.34 101.17 101.32 101.55 101.20 101.15 101.46 101.78 102.19 102.23 100.05 100.09 99.99 100.89 100.88 104.01 98.00 88.80 88.46 91.65 102.85 106.14 96.38 96.00 96.41 92.95 106.89 101.65 99.80 104.65 104.30 107.55 100.56 101.91 100.98 97.83 97.46 100.82 101.01 103.39 98.15 92.94 92.75 94.50 101.78 103.60 97.93 89.63 89.26 92.77 104.83 97.83 85.19 84.82 88.34 104.07 105.47 95.89 84.06 83.79 86.26 102.45 104.21 98.07 87.44 87.03 90.99 103.11 103.17 105.31 107.51 102.14 102.90 102.46 99.94 98.72 98.85 97.65 100.90 103.54 102.91 99.50 99.15 99.34 97.53 101.07 97.25 100.00 100.00 100.00 100.00 100.00 100.00 100.00 104.10 104.47 105.09 105.56 97.00 98.06 97.74 98.29 98.36 97.87 96.82 96.29 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.96 101.73 102.24 101.39 103.55 102.31 103.12 104.84 106.24 100.74 98.83 101.90 104.71 104.67 105.87 107.05 109.26 100.72 98.46 102.12 105.81 107.35 107.96 109.25 101.71 101.97 103.26 101.12 102.36 101.65 101.92 103.19 102.59 101.54 101.62 101.48 103.39 102.10 102.75 104.55 103.39 101.59 101.79 101.45 103.81 102.59 103.72 105.46 104.14 101.81 102.28 101.51 104.63 102.90 104.08 106.18 104.90 100.78 99.61 101.49 104.54 103.71 105.26 106.24 105.72 100.97 99.43 101.90 104.46 104.40 105.90 106.95 95.63 98.16 100.00 100.00 101.11 101.99 93.57 103.31 97.14 104.75 104.00 101.35 99.63 101.93 100.19 102.19 100.64 102.47 96.11 102.74 94.28 103.15 97.27 101.42 93.69 94.21 1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas. 104.20 105.18 106.35 95.79 100.08 106.17 105.79 96.82 94.71 95.44 89.13 106.52 107.31 106.95 97.02 105.14 105.55 102.19 107.55 106.12 106.72 107.16 107.73 108.45 106.66 100.66 98.49 101.99 104.94 104.98 106.06 107.22 107.68 100.55 97.78 102.24 104.91 105.61 106.28 107.80 108.22 100.61 97.85 102.30 105.27 106.58 106.74 108.41 109.02 100.42 97.87 101.99 105.88 107.00 107.12 108.77 109.56 100.67 98.82 101.82 105.84 107.64 108.49 109.40 110.25 101.20 99.29 102.39 106.25 108.18 109.47 110.39 92.71 103.50 91.19 103.84 90.63 104.22 96.19 104.55 99.43 104.86 102.30 105.38 100.84 94.22 94 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.5.—Chain-Type Quantity and Price Indexes for Personal Consumption Expenditures by Type of Product [Index numbers, 1996=100] Line 1995 1996 1997 Chain-type quantity indexes Personal consumption expenditures Durable goods Motor vehicles and parts New autos (70) Net purchases of used autos (71) Other motor vehicles (72) Tires, tubes, accessories, and other parts (73) 96.91 94.66 98.88 102.00 99.48 97.13 95.32 Furniture and household equipment Furniture, including mattresses and bedsprings (29) Kitchen and other household appliances (30) China, glassware, tableware, and utensils (31) Video and audio goods, including musical instruments, and computer goods (91). Video and audio goods, including musical instruments (92) Computers, peripherals, and software (93) Other durable house furnishings (32) 90.93 94.50 96.87 92.77 84.11 Other Ophthalmic products and orthopedic appliances (46) wheel goods, sports and photographic equipment, boats, and pleasure aircraft (90). Jewelry and watches (18) Books and maps (87) 93.31 91.15 94.85 95.07 61.92 94.62 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.43 108.48 106.63 118.66 102.93 101.04 106.62 102.37 103.28 113.87 111.43 112.04 119.23 109.41 110.66 106.32 103.30 107.48 121.25 125.55 112.20 109.61 113.87 155.68 100.00 100.00 100.00 100.00 100.00 100.00 106.85 161.77 105.13 120.90 271.00 112.95 106.74 108.62 107.12 115.78 116.60 118.17 106.26 105.57 118.37 107.62 102.92 107.07 101.68 100.79 103.09 101.32 104.40 103.63 105.69 102.27 103.97 106.98 Food purchased for off-premise consumption (3) Purchased meals and beverages (4) Food furnished to employees (including military) and food produced and consumed on farms (5+6). 99.37 98.03 99.61 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Addenda: Food excluding alcoholic beverages (8) Alcoholic beverages purchased for off-premise consumption (9). Other alcoholic beverages (10) 98.95 98.81 100.00 100.00 101.53 102.26 97.40 100.00 100.00 100.00 100.00 103.32 108.26 94.48 94.73 93.94 104.84 103.20 105.11 113.00 108.29 114.04 95.32 100.00 105.16 113.47 97.29 96.83 101.03 95.42 99.87 94.04 93.74 97.34 100.00 100.00 100.00 101.10 101.64 96.83 101.70 102.83 92.82 100.00 100.00 100.00 100.00 100.00 104.81 97.73 105.20 107.65 102.44 110.47 95.03 110.13 116.79 106.25 93.79 93.70 98.36 100.00 100.00 100.00 106.17 107.06 102.04 112.21 120.80 106.02 98.81 89.79 97.26 100.00 100.00 105.89 107.54 111.97 112.47 100.00 103.06 107.26 Nondurable goods 91.10 96.03 97.14 Food Clothing and shoes Shoes (12) Women's and children's clothing and accessories except shoes (14). Men's and boys' clothing and accessories except shoes (15+16). Gasoline, fuel oil, and other energy goods Gasoline and oil (75) Fuel oil and coal (40) Other Tobacco products (7) Toilet articles and preparations (21) Semidurable house furnishings (33) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (34). Drug preparations and sundries (45) Nondurable toys and sport supplies (89) Stationery and writing supplies (35) Net foreign remittances (111 less 113) Magazines, newspapers, and sheet music (88) Flowers, seeds, and potted plants (95) Services See note at the end of the table. 1995 1996 1997 Housing Owner-occupied nonfarm dwellings—space rent (24) . Tenant-occupied nonfarm dwellings—rent (25) Rental value of farm dwellings (26) Other (27) 98.32 100.52 101.99 98.15 100.00 100.00 100.00 100.00 100.00 101.81 102.44 100.13 96.96 101.18 104.28 105.62 101.09 94.93 100.81 Household operation Electricity (37) Gas (38) Water and other sanitary services (39). Telephone and telegraph (41) Domestic service (42) Other (43) 95.81 99.16 92.49 97.70 90.71 100.67 100.15 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.09 100.03 96.50 103.10 106.82 99.06 108.93 108.53 106.42 86.54 105.37 118.01 112.00 113.43 1998 Line Transportation User-operated transportation Repair, greasing, washing, parking, storage, rental, and leasing (74). Other user-operated transportation (76+77) Purchased local transportation Mass transit systems (79) Taxicab(80) Purchased intercity transportation Railway (82) Bus (83) Airline (84) Other (85) 93.86 93.49 92.83 100.00 100.00 100.00 105.68 106.22 107.24 109.34 109.87 111.06 96.04 101.68 101.62 101.80 93.21 102.01 93.12 92.93 93.66 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.50 103.23 103.75 102.10 103.75 106.56 103.89 104.58 98.59 105.58 107.15 108.46 104.35 107.39 108.29 104.32 108.03 104.80 Medical care Physicians (47) Dentists (48) Other professional services (49) Hospitals and nursing homes (50) Health insurance (56) 97.95 97.32 100.63 95.99 97.64 104.15 100.00 100.00 100.00 100.00 100.00 100.00 102.04 102.54 102.81 100.58 102.56 104.91 106.56 103.84 103.45 105.04 102.31 Recreation Admissions to specified spectator amusements (96) ... Other (94+100+101+102+103) 95.12 97.20 94.87 100.00 100.00 100.00 104.22 103.97 104.25 109.27 109.15 109.29 Other Personal care Cleaning, storage, and repair of clothing and shoes (17) Barbershops, beauty parlors, and health clubs (22) Other (19) Personal business Brokerage charges and investment counseling (61) Bank service charges, trust services, and safe deposit box rental (62). Services furnished without payment by financial intermediaries except life insurance carriers (63). Expense of handling life insurance and pension plans (64) Legal services (65) Funeral and burial expenses (66) Other (67) Education and research Higher education (105) Nursery, elementary, and secondary schools (106) Other (107) Religious and welfare activities (108) Net foreign travel Foreign travel by U.S. residents (110) Less: Expenditures in the United States by nonresidents 96.99 94.97 97.65 98.29 89.84 97.53 83.44 94.34 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 104.43 102.72 103.66 104.60 100.11 105.91 118.15 106.46 111.23 106.00 101.59 107.74 106.69 112.26 140.82 120.49 98.24 100.00 105.24 112.01 107.03 96.48 96.31 95.30 97.42 99.24 99.80 90.97 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.98 102.75 100.57 104.98 103.11 100.90 102.41 108.87 99.40 101.36 104.46 101.07 111.47 106.38 100.89 103.19 122.09 105.39 96.06 93.96 100.00 100.00 108.09 102.78 118.89 100.46 87 April 2000 • SURVEY OF CURRENT BUSINESS 95 Table 7.5.—Chain-Type Quantity and Price Indexes for Personal Consumption Expenditures by Type of Product—Continued [Index numbers, 1996=100] Line 1995 1996 1997 Chain-type price indexes 102 97.90 100.00 101.98 102.93 103 101.06 100.00 97.79 95.45 Motor vehicles and parts New autos (70) Net purchases of used autos (71) Other motor vehicles (72) Tires, tubes, accessories, and other parts (73) 104 105 106 107 108 98.37 98.45 97.70 97.87 100.18 100.00 100.00 100.00 100.00 100.00 99.74 100.08 97.41 101.01 99.44 99.10 99.31 96.37 100.82 98.57 Furniture and household equipment Furniture, including mattresses and bedsprings (29) Kitchen and other household appliances (30) China, glassware, tableware, and utensils (31) Video and audio goods, including musical instruments, and computer goods (91). Video and audio goods, including musical instruments (92) Computers, peripherals, and software (93) Other durable house furnishings (32) 109 110 111 112 113 104.49 98.66 100.10 101.18 114.37 100.00 100.00 100.00 100.00 100.00 95.17 99.90 99.48 99.36 86.64 90.35 99.69 98.21 101.10 74.37 114 115 116 104.29 144.01 99.68 100.00 100.00 100.00 95.93 68.72 100.44 91.24 47.56 100.84 117 118 119 100.27 98.44 100.02 100.00 100.00 100.00 101.54 99.41 98.27 103.40 98.30 120 121 103.74 96.46 100.00 100.00 96.11 101.17 92.59 103.97 122 97.93 100.00 101.35 101.40 123 124 125 126 97.27 97.07 97.58 97.53 100.00 100.00 100.00 100.00 102.23 101.87 102.79 102.62 104.01 103.12 105.39 104.15 97.26 97.68 100.00 100.00 102.22 101.60 104.01 102.18 Personal consumption expenditures Durable goods Other Ophthalmic products and orthopedic appliances (46) wheel goods, sports and photographic equipment, boats, and pleasure aircraft (90). Jewelry and watches (18) Books and maps (87) Nondurable goods Food Food purchased for off-premise consumption (3) Purchased meals and beverages (4) Food furnished to employees (including military) and food produced and consumed on farms (5+6). Addenda: Food excluding alcoholic beverages (8) Alcoholic beverages purchased for off-premise consumption (9). Other alcoholic beverages (10) Clothing and shoes Shoes (12) Women's and children's clothing and accessories except shoes (14). Men's and boys' clothing and accessories except shoes (15+16). Gasoline, fuel oil, and other energy goods Gasoline and oil (75) Fuel oil and coal (40) Other Tobacco products (7) Toilet articles and preparations (21) Semidurable house furnishings (33) Cleaning and polishing preparations, and miscellaneous household supplies and paper products (34). Drug preparations and sundries (45) Nondurable toys and sport supplies (89) Stationery and writing supplies (35) Net foreign remittances (111 less 113) Magazines, newspapers, and sheet music (88) Flowers, seeds, and potted plants (95) Services 96.86 100.00 103.37 106.42 101.42 100.75 102.45 100.00 100.00 100.00 100.05 99.85 99.78 98.00 98.87 96.90 99.94 100.00 100.65 99.53 93.69 94.21 89.62 100.00 100.00 100.00 100.09 99.99 100.89 88.46 91.65 98.50 97.04 99.72 102.25 97.61 100.00 100.00 100.00 100.00 100.00 100.88 104.64 100.20 97.86 101.01 102.85 117.91 101.72 95.72 102.70 97.88 99.45 100.00 100.00 100.00 101.48 99.07 104.40 103.73 94.41 107.16 96.08 103.23 100.00 100.00 101.00 96.84 103.23 98.11 97.25 100.00 103.17 105.31 NOTE.—The figures in parentheses are the line numbers of the corresponding items in table 2.4. Line 1998 1995 1996 1997 1998 102.96 102.90 102.80 105.99 104.27 106.24 106.14 105.99 111.72 108.56 101.73 100.51 106.87 102.51 100.23 102.55 102.79 100.74 96.64 104.85 105.87 98.70 105.44 104.96 149 150 151 152 153 154 155 156 157 158 159 160 98.06 98.38 96.00 96.49 99.69 97.18 97.12 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 161 162 163 98.36 97.88 98.09 100.00 100.00 100.00 103.55 103.34 101.42 104.71 105.05 103.18 164 165 166 167 97.11 91.02 91.39 90.22 103.39 93.87 98.11 104.93 98.19 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 110.79 102.28 101.52 103.93 105.03 99.90 100.36 106.09 101.47 112.32 100.84 100.42 101.75 104.23 102.33 105.86 104.39 103.06 Medical care Physicians (47) Dentists (48) Other professional services (49) Hospitals and nursing homes (50) Health insurance (56) 97.87 99.31 95.60 98.27 97.20 98.51 102.31 101.34 104.65 103.94 101.94 102.83 104.67 103.51 109.08 106.45 104.37 103.38 Recreation Admissions to specified spectator amusements (96) Other(94+100+101+102+103) 96.82 95.29 97.01 103.12 102.82 103.16 105.87 105.00 105.98 96.29 97.78 98.39 96.91 98.40 95.85 101.27 94.64 100.00 100.00, 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 104.84 102.81 102.44 103.39 102.40 105.97 99.67 104.91 107.05 104.38 103.67 105.52 103.53 108.21 97.19 107.86 190 95.54 100.00 109.13 110.16 191 192 193 194 195 196 197 198 199 200 201 202 94.05 96.62 95.32 96.24 96.09 95.85 96.61 96.15 97.28 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 105.33 104.07 105.20 103.29 103.60 103.83 103.27 103.42 102.99 110.82 108.81 109.11 106.89 106.97 107.72 106.35 105.97 105.68 97.70 97.47 100.00 100.00 101.81 102.15 99.52 103.25 Housing Owner-occupied nonfarm dwellings—space rent (24) Tenant-occupied nonfarm dwellings—rent (25) Rental value of farm dwellings (26) Other (27) Household operation Electricity (37) Gas (38) Water and other sanitary services (39) Telephone and telegraph (41) Domestic service (42) Other (43) Transportation User-operated transportation Repair, greasing, washing, parking, storage, rental, and leasing (74). Other user-operated transportation (76+77) Purchased local transportation Mass transit systems (79) Taxicab(80) Purchased intercity transportation Railway (82) Bus (83) Airline (84) Other (85) Other Personal care Cleaning, storage, and repair of clothing and shoes (17) Barbershops, beauty parlors, and health clubs (22) Other (19) Personal business Brokerage charges and investment counseling (61) Bank service charges, trust services, and safe deposit box rental (62). Services furnished without payment by financial intermediaries except life insurance carriers (63). Expense of handling life insurance and pension plans (64) Legal services (65) Funeral and burial expenses (66) Other (67) Education and research Higher education (105) Nursery, elementary, and secondary schools (106) Other (107) Religious and welfare activities (108) Net foreign travel Foreign travel by U.S. residents (110) Less: Expenditures in the United States by nonresidents (112). 97.00 96.92 97.48 95.19 95.84 96 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.6.—Chain-Type Quantity and Price Indexes for Private Fixed Investment by Type [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1998 1997 1999 IV 1999 I Chain-type quantity indexes 91.46 Private fixed investment 90.89 Nonresidential 93.39 Structures Nonresidential buildings, including farm Utilities Mining exploration, shafts, and wells Other structures 91.29 102.11 86.44 120.79 Equipment and software Information processing equipment and software. Computers and peripheral equipment Software 2 Other Industrial equipment Transportation equipment Other 84.50 69.40 86.18 93.27 96.26 92.29 94.97 93.13 93.05 92.80 90.45 93.78 96.32 Residential Structures Single family Multifamily Other structures Equipment 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 108.52 121.37 131.15 110.71 124.80 135.17 108.45 108.42 98.98 125.12 104.37 112.93 114.18 105.31 120.22 -100.28 110.25 111.58 105.86 111.12 103.70 111.48 118.13 129.09 145.69 144.55 177.46 139.67 114.98 109.41 103.53 107.73 109.32 217.67 135.81 121.33 108.56 126.19 118.33 311.58 156.96 140.07 109.19 140.88 118.56 100.00 102.35 111.78 100.00 100.00 100.00 100.00 102.33 100.41 107.75 103.87 111.84 113.32 107.06 110.80 100.00 103.06 109.41 120.06 120.08 122.52 112.86 118.24 119.04 105.07 106.50 107.55 108.30 97.26 124.05 88.73 106.13 110.32 121.03 109.28 105.22 99.39 104.35 106.05 107.25 110.33 111.43 117.44 109.05 113.18 114.09 121.03 106.46 106.05 98.35 127.36 88.59 109.31 110.42 100.00 120.45 95.66 110.48 108.92 100.31 128.63 144.51 112.03 112.43 104.21 125.74 98.61 109.94 114.87 114.52 121.90 115.32 125.44 124.24 135.33 132.88 112.60 107.09 103.42 107.33 108.75 156.51 121.21 113.04 106.37 107.70 110.92 185.34 127.11 118.01 107.77 125.41 115.74 100.98 102.15 103.96 100.96 99.44 106.17 102.03 102.14 100.41 109.04 103.21 148.26 116.82 112.31 104.93 111.55 111.55 102.30 102.27 101.77 102.34 107.43 107.44 106.91 113.70 107.07 106.86 99.93 104.52 104.87 103.95 101.87 111.25 105.38 103.82 104.32 120.95 124.54 113.98 114.40 104.58 128.34 106.53 128.33 142.52 207.30 132.65 120.61 108.41 127.40 119.62 121.55 125.55 128.30 130.37 132.54 133.40 124.56 129.06 131.49 133.74 137.23 138.23 112.05 113.94 105.09 114.94 95.89 113.64 115.95 107.38 111.86 100.09 111.96 115.42 105.81 102.30 96.84 110.44 112.07 105.42 106.95 115.18 109.37 109.64 106.80 115.42 102.12 109.23 109.20 105.40 119.83 100.64 129.09 148.79 134.70 156.14 138.74 163.75 142.47 174.39 147.77 183.12 149.22 188.57 226.43 138.65 122.28 108.99 118.22 120.78 251.60 144.82 124.40 109.09 133.75 117.17 272.99 148.87 130.09 106.30 137.34 122.50 300.52 154.54 138.89 107.42 137.90 119.19 329.49 159.80 144.05 109.95 146.87 116.34 110.91 113.07 115.74 119.30 120.91 110.94 111.76 106.34 110.70 113.14 115.64 104.36 111.50 115.84 118.98 103.85 113.93 119.38 123.05 114.69 115.49 120.96 123.02 112.78 119.77 109.36 109.96 111.47 115.80 118.66 119.75 119.74 120.48 112.55 120.05 120.45 343.32 164.63 147.25 113.08 141.39 116.21 120.27 120.25 123.51 111.41 117.63 121.27 Chain-type price indexes 100.14 Private fixed investment Nonresidential 100.93 97.39 Structures Nonresidential buildings, including farm Utilities .. Mining exploration, shafts, and wells Other structures 97.80 97.30 94.58 96.78 102.12 107.91 Equipment and software Information processing equipment and software. Computers and peripheral equipment • Software2 Other Industrial equipment Transportation equipment Other 131.29 101.89 100.65 97.98 98.39 97.61 Residential Structu FGS Single family Multifamily Other structures Equipment ... 97.91 97.87 98.20 97.32 97.55 99.40 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.95 99.20 99.22 100.00 99.92 99.04 97.22 95.97 99.45 99.17 104.14 103.22 102.28 113.80 103.03 107.37 110.21 110.84 103.41 115.82 107.17 102.34 101.80 101.40 108.05 101.61 103.50 102.57 102.16 112.37 102.77 97.37 92.94 94.01 91.63 79.77 98.49 95.57 77.51 97.45 99.55 100.73 100.81 101.03 57.38 95.54 98.50 101.37 100.38 102.42 102.68 105.30 100.00 100.00 100.00 102.75 102.92 104.50 102.25 105.45 105.06 112.40 104.80 44.03 96.06 97.51 102.04 100.73 103.59 109.40 109.68 100.00 99.98 99.54 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment. 106.72 103.31 118.51 105.26 85.26 99.38 99.15 99.16 99.11 99.17 99.19 98.56 97.90 97.36 97.03 96.60 96.38 96.04 95.72 104.85 103.77 102.71 116.09 103.27 105.86 104.72 102.87 118.67 104.45 106.11 105.11 103.10 118.06 104.86 106.85 106.05 103.14 118.52 104.81 107.79 107.23 103.49 118.70 105.54 108.73 108.50 103.52 118.75 105.81 109.07 109.35 102.85 116.65 106.01 109.67 110.58 111.43 103.53 114.93 107.32 97.74 93.83 97.06 92.05 96.18 90.32 95.25 88.21 94.34 86.18 93.64 92.81 82.31 92.44 81.17 91.86 84.35 91.24 79.15 85.52 98.28 99.64 100.57 100.75 100.89 79.85 97.99 99.52 100.59 100.73 101.03 74.63 97.12 99.66 100.79 101.25 100.98 70.05 96.43 99.39 100.98 100.49 101.23 64.71 95.72 99.06 101.05 100.30 101.75 59.64 95.60 98.52 101.23 100.15 102.05 54.92 95.63 98.31 101.48 100.41 102.64 50:22 95.20 98.10 101.73 100.65 103.25 47.23 95.64 97.94 101.94 101.20 103.66 44.82 95.66 97.71 101.87 101.05 103.80 42.73 95.92 97.43 102.00 100.43 103.55 100.03 110.29 102.89 115.19 106.89 101.60 102.14 103.18 103.80 103.88 104.64 105.76 106.93 107.97 108.93 110.04 102.19 102.34 103.27 101.82 103.28 103.47 105.32 102.69 103.91 104.05 107.17 103.20 103.98 103.53 108.37 103.77 104.78 104.29 110.46 104.41 105.91 105.45 113.61 105.21 107.12 106.79 117.59 105.82 108.20 108.19 118.92 106.44 109.20 109.15 119.98 107.48 110.34 109.71 120.59 107.83 101.61 101.80 102.16 101.28 98.10 101.17 100.03 99.54 99.19 99.27 99.75 99.28 98.60 97.87 97.96 110.44 121.40 108.39 99.32 95.71 111.52 112.30 104.37 116.53 108.47 90.99 78.69 41.34 97.04 96.96 102.34 100.27 103.38 110.65 110.96 111.05 122.07 109.02 97.96 April 2000 • SURVEY OF CURRENT BUSINESS 97 Table 7.7.—Chain-Type Quantity and Price Indexes for Private Fixed Investment in Structures by Type Table 7.8.—Chain-Type Quantity and Price Indexes for Private Fixed Investment in Equipment and Software by Type [Index numbers, 1996=100] [Index numbers, 1996=100] Line 1995 1996 1997 1998 Line Chain-type quantity indexes 93.19 100.00 104.93 112.29 93.39 100.00 108.45 112.93 93.40 100.00 108.12 113.05 Nonresidential buildings, excluding farm Industrial Commercial Office buildings' Other 2 Religious, educational, hospital and institutional, and other 3 . 91.45 101.77 91.92 93.91 90.53 83.43 100.00 100.00 100.00 100.00 100.00 100.00 108.59 93.03 110.40 119.18 104.24 116.46 114.52 92.58 119.10 139.56 104.75 122.14 Utilities Railroads Telecommunications Electric light and power Gas Petroleum pipelines 102.11 83.24 99.44 126.54 82.00 92.32 100.00 100.00 100.00 100.00 100.00 100.00 108.25 105.96 98.34 84.71 93.01 105.31 115.92 120.56 99.36 83.00 119.31 Farm Mining exploration, shafts, and wells Petroleum and natural gas Other Other 4 84.25 86.44 86.49 85.84 123.21 100.00 100.00 100.00 100.00 100.00 101.04 125.12 127.52 96.15 91.22 99.65 120.22 120.98 112.20 104.46 91.39 100.00 109.42 113.89 93.05 100.00 102.33 111.84 93.40 100.00 101.48 110.25 92.52 92.54 92.80 90.45 92.22 95.66 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.42 101.25 100.41 107.75 103.85 101.39 133.80 112.74 112.56 113.32 107.06 115.24 103.76 149.65 100.00 110.32 125.98 Private fixed investment in structures Presidential New Brokers' commissions on sale of structures Net purchases of used structures Residential New New housing units Permanent site Single-family structures Multifamily structures Manufactured homes Improvements Other 5 Brokers' commissions on sale of structures Net purchases of used structures 97.67 100.00 103.35 106.28 97.39 100.00 104.14 107.37 97.39 100.00 104.15 107.38 97.80 97.80 97.80 97.80 97.79 97.80 100.00 100.00 100.00 100.00 100.00 100.00 103.22 103.22 103.21 103.22 103.20 103.22 106.72 106.74 106.71 106.74 106.68 106.74 Utilities Railroads Telecommunications Electric light and power Gas Petroleum pipelines 97.30 95.85 94.78 98.94 99.11 99.15 100.00 100.00 100.00 100.00 100.00 100.00 102.28 103.38 101.74 102.13 102.67 102.65 103.31 104.36 101.74 103.90 104.46 104.46 Farm Mining exploration, shafts, and wells Petroleum and natural gas Other Other4 .' 97.79 94.58 94.30 97.79 96.59 100.00 100.00 100.00 100.00 100.00 103.22 113.80 114.60 103.20 103.35 106.75 118.51 119.40 106.76 105.29 98.27 97.83 100.00 100.00 101.89 102.53 106.22 107.05 97.87 100.00 102.75 105.45 97.87 100.00 103.05 105.69 98.04 98.10 98.20 97.32 97.18 97.45 98.20 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.01 103.10 102.92 104.50 101.67 103.15 102.87 105.71 105.91 105.06 112.40 103.02 105.65 105.01 97.90 98.21 100.00 100.00 100.70 102.96 103.70 105.00 Brokers' commissions on sale of structures Net purchases of used structures Residential New New housing units Permanent site Single-family structures Multifamily structures Manufactured homes Improvements Other 5 Brokers' commissions on sale of structures Net purchases of used structures 1. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities for their own use. 2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other buildings used for commercial purposes. 3. "Other" consists of hotels and motels, buildings used primarily for social and recreational activities, and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals. 4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields. 5. Consists primarily of dormitories and of fraternity and sorority houses. 1998 1 90.15 100.00 111.38 128.86 2 90.08 100.00 111.48 129.09 Information processing equipment and software Computers and peripheral equipment1 Software2 Communication equipment Instruments Photocopy and related equipment Office and accounting equipment 3 4 5 6 7 8 9 84.50 69.40 86.18 89.22 95.53 105.40 95.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 118.13 139.67 114.98 112.47 104.75 107.27 107.80 145.69 217.67 135.81 130.93 108.64 104.90 126.82 Industrial equipment Fabricated metal products Engines and turbines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment Electrical transmission, distribution, and industrial apparatus 10 11 12 13 14 15 16 96.26 90.76 83.64 98.81 97.41 96.62 96.09 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.53 97.97 80.28 110.01 100.78 104.75 104.80 108.56 103.73 96.58 113.62 101.16 114.32 110.05 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 17 18 19 20 21 22 92.29 89.22 93.10 107.93 79.81 101.01 100.00 100.00 100.00 100.00 100.00 100.00 107.73 112.32 97.47 116.77 96.21 105.88 126.19 126.51 94.49 225.88 129.34 141.40 Other equipment Furniture and fixtures Tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical equipment, n.e.c Other ... 23 24 25 26 27 28 29 30 31 95.05 96.63 101.48 95.74 88.83 95.91 96.82 92.22 94.60 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 108.78 111.14 107.28 105.71 111.12 108.48 100.01 111.27 110.82 118.45 119.51 113.31 110.56 124.75 161.35 107.60 123.68 117.77 Private fixed investment in equipment and software ... Nonresidential equipment and software Less: Sale of equipment scrap, excluding autos . Residential equipment 32 96.82 100.00 95.80 122.70 33 96.32 100.00 103.06 109.41 34 102.09 100.00 97.40 94.07 35 102.12 100.00 97.37 94.01 Information processing equipment and software Computers and peripheral equipment' Software2 Communication equipment Instruments Photocopy and related equipment Office and accounting equipment 36 37 38 39 40 41 42 107.91 131.29 101.89 102.54 98.63 97.03 101.07 100.00 100.00 100.00 100.00 100.00 100.00 100.00 92.94 77.51 97.45 98.93 100.57 100.19 99.47 85.26 57.38 95.54 97.33 100.60 98.87 99.37 Industrial equipment Fabricated metal products Engines and turbines Metalworking machinery Special industry machinery, n.e.c General industrial, including materials handling, equipment Electrical transmission, distribution, and industrial apparatus 43 44 45 46 47 48 49 97.98 96.89 98.18 97.88 97.62 98.22 99.02 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.73 100.27 101.98 100.43 101.03 101.14 100.16 101.37 100.21 102.88 101.19 101.86 102.01 100.34 Transportation equipment Trucks, buses, and truck trailers Autos Aircraft Ships and boats Railroad equipment 50 51 52 53 54 55 98.39 99.40 97.20 96.84 97.50 97.58 100.00 100.00 100.00 100.00 100.00 100.00 100.81 99.50 103.50 101.39 102.41 98.44 100.38 98.49 103.68 101.83 103.97 99.06 Other equipment Furniture and fixtures Tractors Agricultural machinery, except tractors Construction machinery, except tractors Mining and oilfield machinery Service industry machinery Electrical equipment, n.e.c 56 57 58 59 60 61 62 63 64 98.15 97.75 98.89 97.50 97.80 97.44 97.95 100.38 98.05 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.08 101.70 100.40 101.29 101.69 101.84 101.75 98.42 100.80 101.84 102.21 100.93 102.32 103.51 103.10 102.75 97.68 101.50 65 111.05 100.00 102.19 87.01 66 99.40 100.00 99.98 99.54 Private fixed investment in equipment and software ... Nonresidential buildings, excluding farm Industrial Commercial Office buildings» Other 2 Religious, educational, hospital and institutional, and other 3 . New 1997 Chain-type quantity indexes Nonresidential equipment and software Private fixed investment in structures 1996 Chain-type price indexes Chain-type price indexes Nonresidential 1995 Other Less: Sale of equipment scrap, excluding autos Residential equipment 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment, n.e.c. Not elsewhere classified. 98 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.9.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services and for Receipts and Payments of Income [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1997 1999 1999 1998 Chain-type quantity indexes Income receipts 96.29 Imports of goods and services .. Goods 1 Durable Nondurable Services1 92.05 91.43 90.33 93.72 95.40 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Income payments 95.05 100.00 Exports of goods and services .. Goods 1 Durable Nondurable Services1 92.45 91.97 89.65 97.09 93.65 107.77 108.99 111.26 104.12 104.87 126.89 127.62 131.30 120.56 123.21 119.24 121.59 127.47 108.91 113.75 118.85 141.77 143.82 150.81 130.35 131.74 107.43 107.60 109.61 103.82 106.52 111.83 113.66 117.34 105.77 107.50 114.37 112.22 112.90 114.60 109.63 108.76 126.13 135.92 113.94 118.41 112.46 114.51 118.17 106.68 107.59 114.92 116.89 121.78 106.40 110.24 113.26 113.72 114.21 116.23 110.34 111.19 119.56 113.69 108.17 141.34 147.66 129.07 131.58 144.63 147.08 154.76 132.27 132.74 131.35 136.03 123.34 126.73 133.00 113.22 115.55 125.50 147.68 150.53 159.54 133.35 133.85 149.48 95.49 92.69 93.68 90.26 102.60 95.80 92.85 93.42 91.47 103.28 96.41 93.44 93.74 92.74 103.95 102.80 103.31 103.77 104.37 89.81 88.38 89.76 85.40 97.43 90.96 89.46 89.09 90.29 99.03 92.35 90.75 88.73 95.29 100.95 93.46 92.06 88.65 99.79 100.91 103.36 103.88 104.44 105.07 114.87 117.20 122.13 106.65 109.38 115.36 118.21 121.96 110.18 108.64 114.91 117.38 122.26 106.91 109.08 113.77 114.69 118.99 105.50 111.45 113.32 115.14 120.35 103.92 109.01 117.68 120.35 125.52 109.25 111.43 116.03 117.46 122.89 105.78 112.56 116.44 116.86 117.42 119.24 113.89 113.99 123.89 114.08 116.26 122.41 122.87 126.22 116.47 120.01 116.84 126.21 126.87 130.00 120.90 122.83 110.06 111.58 118.35 118.92 121.46 114.02 115.47 127.81 128.40 131.40 122.71 124.75 131.14 132.33 137.58 122.15 125.24 121.99 123.30 125.22 128.90 127.10 112.41 135.07 136.33 141.30 126.71 128.81 126.82 96.53 94.71 95.21 93.49 101.13 95.80 93.70 94.46 91.85 101.12 95.44 93.15 94.14 90.72 101.26 95.33 92.83 93.91 90.16 101.65 102.09 102.26 102.49 91.87 92.19 91.13 96.32 91.63 90.55 91.18 89.18 97.36 90.55 89.30 90.17 87.43 97.21 90.48 89.03 89.86 87.24 102.67 102.84 102.99 103.03 117.17 118.71 123.99 107.39 113.44 116.72 120.42 123.43 130.01 109.25 113.46 120.75 Chain-type price indexes Exports of 1 goods and services foods . Durable Nondurable Services1 Income receipts Imports of goods and services Goods 1 Durable Nondurable Services1 Income payments 98.47 97.29 97.03 97.89 101.40 94.25 94.88 92.71 101.10 95.76 92.95 93.69 91.16 102.87 97.81 97.61 98.28 100.75 98.73 97.55 97.26 98.20 101.69 98.44 97.24 96.96 97.88 101.45 98.03 96.57 96.30 97.22 101.70 101.61 102.20 103.56 101.24 101.45 101.74 102.00 101.83 102.51 105.95 95.93 98.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 96.45 91.64 90.16 89.06 92.69 99.58 98.27 97.94 95.85 102.10 100.02 96.43 95.88 94.76 98.12 99.47 91.31 90.19 90.85 88.74 97.29 95.73 95.08 97.02 100.16 95.85 95.23 94.58 96.55 99.10 95.24 94.61 93.53 96.80 98.60 98.01 100.00 102.35 102.88 104.19 101.77 102.25 102.51 102.88 101.29 102.65 104.29 99.26 97.99 98.22 96.19 98.66 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services. 96.99 95.44 95.70 94.78 100.92 101.97 92.57 April 2000 • SURVEY OF CURRENT BUSINESS 99 Table 7.10.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1999 1997 1999 1998 I » I '" Chain-type quantity indexes Exports of goods and services Exports of goods 1 Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Exports of servicesl 92.45 100.00 112.46 114.92 119.24 107.77 111.83 114.87 115.36 114.91 113.77 113.32 117.68 116.03 117.17 120.42 123.34 91.97 100.00 114.51 116.89 121.59 108.99 113.66 117.20 118.21 117.38 114.69 115.14 120.35 117.46 118.71 123.43 126.73 101.54 95.52 94.41 96.14 86.31 88.24 76.13 88.65 96.12 93.18 92.89 93.48 95.68 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.16 108.61 109.05 108.36 122.84 129.88 131.31 119.61 112.94 109.62 110.35 108.86 114.00 99.28 107.43 110.83 105.50 128.12 165.96 136.93 119.03 111.45 112.30 112.66 111.92 122.15 102.16 108.47 114.19 105.17 134.93 161.93 155.46 125.83 113.30 114.78 115.82 113.70 139.76 98.99 104.76 105.08 104.58 114.24 124.33 119.36 111.26 107.61 107.15 106.44 107.90 110.12 97.33 108.67 109.31 108.31 121.51 128.82 131.28 117.96 111.82 110.05 111.68 108.35 113.55 97.27 110.19 109.90 110.35 128.19 134.39 139.82 124.41 116.38 110.11 112.16 107.96 113.77 107.06 110.83 111.91 110.22 127.41 131.99 134.78 124.83 115.94 111.18 111.12 111.24 118.58 103.18 109.42 114.87 106.33 127.02 149.02 130.17 122.08 117.56 110.69 111.29 110.08 116.10 97.41 106.66 109.92 104.81 123.94 144.24 133.63 118.02 110.65 112.08 112.09 112.06 120.81 92.48 105.65 107.96 104.34 128.37 174.48 139.59 117.22 103.92 113.98 114.83 113.09 117.57 104.05 108.00 110.58 106.52 133.15 196.09 144.32 118.78 113.67 112.43 112.41 112.46 134.10 95.32 104.28 109.69 101.16 130.16 172.66 143.22 119.41 108.47 113.21 110.56 115.96 140.12 100.96 106.44 111.86 103.31 129.67 148.09 153.55 121.66 113.83 112.57 113.26 111.86 139.91 106.40 108.23 114.26 104.76 139.03 163.46 163.27 129.76 115.03 114.58 116.04 113.08 135.42 105.96 114.94 120.95 111.47 140.84 163.54 161.81 132.48 115.87 118.74 123.41 113.91 143.60 93.65 115.55 100.00 107.59 110.24 113.75 104.87 107.50 109.38 108.64 109.08 111.45 109.01 111.43 112.56 113.44 113.46 Transfers under U.S. military agency sales contracts. Travel Passenger fares Other transportation Royalties and license fees Other private services Other 93.91 100.00 117.37 117.26 110.78 107.19 129.75 122.90 109.62 126.28 123.23 109.26 110.28 113.27 109.96 113.35 106.53 93.06 92.68 102.78 95.34 89.10 98.51 100.00 100.00 100.00 100.00 100.00 100.00 103.15 105.44 103.30 102.24 117.21 98.25 99.46 102.61 101.08 110.75 126.16 103.97 101.77 100.43 107.57 111.29 134.01 109.39 104.02 108.47 101.47 100.02 109.83 97.24 103.21 101.34 103.52 101.51 115.78 98.03 104.32 103.48 103.23 105.07 120.46 98.65 101.05 108.46 104.98 102.37 122.75 99.07 100.59 101.36 100.21 107.16 122.31 101.13 102.10 107.68 98.91 108.48 127.67 102.25 95.52 105.40 100.22 108.62 127.51 104.69 99.62 96.03 104.98 118.76 127.16 107.83 101.32 96.73 106.14 111.73 131.26 108.68 101.21 101.54 106.11 111.88 133.49 109.63 100.54 100.83 106.32 110.82 134.26 109.17 104.01 102.62 11172 110.72 137.04 110.09 Imports of goods and services 92.05 100.00 113.72 126.89 141.77 107.43 112.22 116.86 118.35 122.41 126.21 127.81 131.14 135.07 139.69 144.63 147.68 91.43 100.00 114.21 127.62 143.82 107.60 112.90 117.42 118.92 122.87 126.87 128.40 132.33 136.33 141.34 147.08 150.53 90.88 94.47 100.00 100.00 110.15 108.31 118.18 119.98 129.22 125.69 104.45 104.04 108.27 107.64 114.28 110.22 113.61 111.36 115.99 115.93 117.46 120.81 119.42 122.48 119.84 120.69 122.46 120.73 128.95 123.45 132.26 127.01 133.22 131.57 93.38 95.58 92.91 85.05 88.22 78.53 87.42 96.63 93.29 92.69 93.96 94.63 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 107.72 108.92 104.58 125.40 126.23 131.98 122.74 108.22 114.06 112.51 115.75 112.91 123.87 115.85 111.97 143.96 163.09 164.66 134.30 115.21 129.16 129.55 128.79 132.40 129.06 122.14 111.73 166.05 171.46 213.21 149.16 138.26 144.01 145.77 142.20 160.23 103.59 104.49 98.69 114.34 106.50 117.41 113.93 108.44 106.84 105.57 108.24 102.39 107.33 107.93 106.69 122.94 117.00 129.49 120.95 107.51 112.45 110.87 114.18 109.94 108.24 112.31 108.29 130.36 144.39 139.46 125.42 109.44 116.22 114.47 118.14 119.33 111.74 110.94 104.68 133.97 137.05 141.56 130.65 107.47 120.71 119.12 122.45 119.96 117.44 114.33 106.31 139.04 135.21 152.74 134.13 112.02 124.12 123.54 124.77 122.59 124.95 116.41 116.00 143.06 169.02 160.91 133.64 112.28 129.39 129.51 129.29 126.02 127.01 117.66 116.69 144.82 168.42 165.34 134.72 111.93 131.06 131.19 130.95 131.76 126.06 114.99 108.87 148.92 179.71 179.65 134.69 124.62 132.07 133.96 130.13 149.25 124.75 116.46 110.75 152.37 163.05 191.36 137.60 132.17 136.97 135.34 138.71 155.04 127.82 118.80 117.22 162.45 166.00 212.57 144.91 134.47 139.94 142.91 136.86 158.20 128.66 125.34 113.66 171.02 183.16 222.47 152.05 142.79 146.22 149.96 142.34 162.99 135.02 127.97 105.31 178.39 173.64 226.46 162.09 143.63 152.90 154.88 150.87 164.69 Imports of goods Foods, feeds, and beverages Industrial supplies and materials, except petroleum and products. Durable goods Nondurable goods Petroleum and products Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Imports of services1 95.40 100.00 111.19 123.21 131.74 106.52 108.76 113.99 115.47 120.01 122.83 124.75 125.24 128.81 131.58 132.74 133.85 Direct defense expenditures Travel Passenger fares Other transportation Royalties and license fees Other private services Other 90.66 96.28 93.92 101.46 90.21 92.63 97.73 100.00 100.00 100.00 100.00 100.00 100.00 100.00 116.07 108.69 108.20 107.99 117.73 116.29 104.99 130.92 122.14 116.70 115.73 140.80 129.29 109.95 147.26 131.70 123.49 116.32 153.18 141.09 113.23 109.31 106.80 104.76 102.97 105.92 109.55 102.18 106.91 105.74 109.67 109.02 107.41 113.47 104.36 121.82 110.07 111.21 108.29 130.91 119.68 107.47 126.25 112.15 107.16 111.68 126.67 122.46 105.96 132.42 121.24 109.29 113.52 147.71 120.76 108.66 127.65 122.57 117.67 115.51 134.50 129.85 106.02 132.50 123.56 119.48 116.09 135.62 132.34 113.24 131.12 121.19 120.37 117.80 145.36 134.19 111.88 139.93 129.99 119.81 116.61 157.46 134.16 110.33 146.68 131.42 122.05 115.04 159.94 141.03 113.36 154.12 130.56 122.83 117.08 145.68 145.81 114.87 148.33 134.82 129.26 116.53 149.63 143.35 114.37 Addenda: Exports of agricultural goods 2 Exports of nonagricultural goods Imports of nonpetroleum goods 102.28 90.91 91.31 100.00 100.00 100.00 101.76 115.89 115.15 101.87 118.50 129.07 102.97 123.55 146.59 98.96 110.07 108.53 99.76 115.15 113.53 100.86 118.95 118.29 107.46 119.38 120.24 104.39 118.78 124.41 99.83 116.28 128.00 95.45 117.20 129.60 107.80 121.73 134.28 95.70 119.71 138.42 101.92 120.50 143.34 108.29 125.08 149.93 105.97 128.90 154.68 See note at the end of the table. 100 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.10.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product—Continued [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1999 1997 I II 1999 1998 III IV I II III IV I II III IV Chain-type price indexes Exports of goods and services Exports of goods 1 Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other Exports of services1 51 101.29 100.00 98.47 96.19 95.76 98.66 98.73 98.44 98.03 96.99 96.53 95.80 95.44 95.33 95.49 95.80 96.41 52 102.65 100.00 97.29 94.25 92.95 97.81 97.55 97.24 96.57 95.44 94.71 93.70 93.15 92.83 92.69 92.85 93.44 53 54 55 56 57 58 59 60 61 62 63 64 65 89.51 104.83 103.58 105.54 106.95 96.16 119.15 106.02 98.93 98.70 98.84 98.54 100.17 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 92.60 99.57 99.11 99.83 95.07 103.41 85.98 95.90 100.81 100.75 100.97 100.51 98.95 84.15 94.22 95.02 93.75 92.50 104.79 75.58 94.64 100.96 100.76 100.69 100.83 96.68 80.32 92.75 92.55 92.92 91.07 107.06 68.55 93.92 101.55 100.43 100.11 100.76 95.50 93.93 99.81 99.52 99.96 95.98 102.91 89.78 96.30 100.61 100.52 100.67 100.37 99.09 94.27 99.66 99.61 99.68 95.31 102.85 86.87 96.11 100.88 100.58 101.02 100.11 99.11 92.16 99.83 99.63 99.94 94.81 103.78 84.71 95.80 101.00 100.87 101.03 100.71 99.00 90.05 99.00 97.69 99.75 94.17 104.12 82.58 95.37 100.77 101.01 101.17 100.85 98.61 86.21 96.71 96.48 96.84 93.47 104.38 79.88 95.00 100.85 101.06 101.10 101.02 97.63 84.80 95.29 95.81 94.98 92.88 104.71 77.06 94.81 100.87 100.82 100.76 100.88 97.15 83.37 93.18 94.44 92.43 91.97 104.66 73.31 94.51 101.00 100.61 100.51 100.72 96.32 82.24 91.71 93.34 90.75 91.69 105.40 72.08 94.23 101.11 100.53 100.39 100.69 95.63 81.65 90.83 92.48 89.85 91.50 106.49 70.39 94.14 101.31 100.34 99.95 100.73 95.55 80.77 91.24 92.12 90.75 91.20 106.87 69.12 93.98 101.39 100.34 100.03 100.65 95.02 79.75 93.44 92.38 94.13 90.67 107.05 67.48 93.65 101.57 100.39 100.21 100.57 95.22 79.09 95.48 93.20 96.93 90.90 107.84 67.21 93.91 101.93 100.64 100.24 101.06 96.20 66 97.99 100.00 101.40 101.10 102.87 100.75 101.69 101.45 101.70 100.92 101.13 101.12 101.26 101.65 102.60 103.28 103.95 Transfers under U.S. military agency sales contracts. Travel Passenger fares Other transportation Royalties and license fees Other private services Other 67 99.62 100.00 97.77 95.37 100.34 98.69 98.42 96.80 97.16 96.42 96.39 94.94 93.74 100.12 99.70 100.03 101.49 68 69 70 71 72 73 97.67 99.95 97.33 97.85 98.43 95.66 100.00 100.00 100.00 100.00 100.00 100.00 101.88 96.59 100.26 101.76 100.82 110.87 102.71 95.46 96.83 102.35 100.84 110.60 103.82 102.88 97.84 103.71 102.00 111.13 101.06 93.14 101.30 101.39 100.70 107.68 101.86 99.56 100.18 101.60 100.87 111.42 101.86 98.94 99.41 101.88 100.76 111.26 102.76 95.01 100.15 102.15 100.97 113.10 102.06 95.04 97.02 102.11 100.73 110.47 102.56 94.36 97.21 102.23 100.80 111.59 102.96 93.93 97.02 102.41 100.85 111.45 103.26 98.82 96.07 102.63 100.96 108.90 102.66 101.18 93.96 102.95 101.41 109.25 104.11 101.12 97.08 103.46 102.00 110.11 104.15 103.62 99.63 103.92 102.09 112.04 104.36 105.58 100.68 104.52 102.50 113.13 Imports of goods and services 74 101.83 100.00 96.45 91.31 91.64 98.27 96.43 95.85 95.24 92.57 91.63 90.55 90.48 89.81 90.96 92.35 93.46 75 102.51 100.00 95.88 90.19 90.16 97.94 95.73 95.23 94.61 91.87 90.55 89.30 89.03 88.38 89.46 90.75 92.06 76 77 102.22 101.43 100.00 100.00 100.91 99.88 97.73 94.96 94.53 94.45 100.51 100.90 102.11 99.18 101.00 99.83 100.04 99.60 98.55 97.04 98.51 95.88 96.73 94.09 97.12 92.83 95.37 92.62 95.05 93.07 93.59 95.33 94.12 96.78 78 79 80 81 82 83 84 85 86 87 88 89 101.43 101.43 83.09 114.16 95.80 116.50 114.80 99.36 99.68 100.04 99.28 99.91 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 101.79 97.94 94.34 88.56 103.77 86.44 88.16 100.20 98.81 97.81 99.89 99.43 97.00 92.88 62.50 82.10 105.56 71.55 84.81 100.34 97.47 95.23 99.92 99.93 97.18 91.60 83.43 78.43 107.52 62.12 83.69 101.02 96.79 94.08 99.76 99.26 101.16 100.64 107.93 90.76 102.98 91.64 89.33 100.04 99.21 98.80 99.67 99.77 102.23 96.12 91.14 89.24 103.34 88.30 88.42 99.87 98.92 97.95 99.98 99.32 102.60 97.04 89.30 88.05 104.16 85.06 87.94 100.27 98.68 97.54 99.92 99.36 101.19 97.99 90.01 86.18 104.60 80.76 86.93 100.63 98.42 96.96 100.00 99.27 99.25 94.78 70.35 84.05 105.14 76.28 85.64 100.63 98.03 96.21 100.01 98.85 98.13 93.57 63.48 82.46 105.40 72.20 85.06 100.41 97.51 95.38 99.83 99.79 96.26 91.87 58.70 81.17 105.30 70.25 83.98 99.98 97.09 94.61 99.81 100.41 94.37 91.31 57.85 80.71 106.40 67.47 84.55 100.34 97.26 94.74 100.03 100.67 95.19 89.96 52.60 80.29 107.27 65.78 84.69 100.71 97.24 94.65 100.08 99.42 96.35 89.63 74.68 78.73 107.37 62.63 83.91 100.97 96.68 94.03 99.58 98.99 98.56 91.95 94.71 77.47 107.50 60.20 83.22 101.14 96.57 93.84 99.57 99.19 98.63 94.86 111.75 77.22 107.94 59.87 82.96 101.26 96.64 93.79 99.78 99.46 imports of goods' Foods, feeds, and beverages Industrial supplies and materials, except petroleum and products. Durable goods Nondurable goods Petroleum and products Capital goods, except automotive Civilian aircraft, engines, and parts Computers, peripherals, and parts Other Automotive vehicles, engines, and parts Consumer goods, except automotive Durable goods Nondurable goods Other imports of services1 90 98.31 100.00 99.47 97.29 99.58 100.02 100.16 99.10 98.60 96.32 97.36 97.21 98.26 97.43 99.03 100.95 100.91 Direct defense expenditures Travel Passenger fares Other transportation Royalties and license fees Other private services Other 91 92 93 94 95 96 97 100.44 97.10 98.72 97.22 97.86 100.20 97.32 100.00 100.00 100.00 100.00 100.00 100.00 100.00 91.38 99.67 105.98 97.86 101.76 99.43 100.50 88.93 95.60 107.24 96.04 102.33 97.09 100.40 90.60 95.97 110.05 107.29 103.70 96.63 102.03 93.90 100.57 103.70 99.72 101.37 99.51 100.78 91.97 101.12 106.44 97.97 101.58 99.99 101.11 89.36 99.47 107.02 97.07 101.87 98.98 100.27 90.30 97.65 106.76 96.69 102.13 99.23 99.83 84.82 94.32 107.12 94.13 102.10 97.82 98.02 86.97 96.23 106.55 95.92 102.22 97.43 101.11 89.69 94.80 107.62 96.83 102.39 96.79 100.72 94.25 97.08 107.67 97.28 102.62 96.33 101.75 90.83 95.09 107.93 96.73 102.93 96.82 100.81 89.04 94.99 110.15 105.21 103.45 97.45 101.67 90.81 97.09 112.33 112.60 103.90 96.31 102.80 91.70 96.70 109.79 114.63 104.50 95.95 102.85 Addenda: Exports of agricultural goods 2 Exports of nonagricultural goods Imports of nonpetroleum goods 98 99 100 91.00 104.02 104.44 100.00 100.00 100.00 93.38 97.70 96.02 84.79 95.19 92.63 78.58 94.34 91.02 95.03 98.11 97.01 94.68 97.85 96.17 92.58 97.71 95.82 91.21 97.12 95.09 87.32 96.25 93.78 86.02 95.58 92.95 83.82 94.68 92.01 81.98 94.24 91.79 80.42 94.04 91.50 78.24 94.09 90.90 77.72 94.31 90.74 77.92 94.94 90.94 NOTE.—See footnotes to table 4.3. April 2000 • SURVEY OF CURRENT BUSINESS 101 Table 7.11.—Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross investment by Type [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1999 1997 1998 III 1 IV I II 1999 III IV I II III IV Chain-type quantity indexes Government consumption expenditures and gross investment1. Federal National defense Consumption expenditures Durable goods 2 . . Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software Nondefense Consumption expenditures Durable aoods 2 Nondurable goods Commodity Credit Corporation inventory change. Other nondurables Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 1 102.51 104.02 104.36 105.11 106.43 106.78 107.97 99.44 96.92 99.67 99.10 100.05 99.94 100.46 101.49 105.02 97.65 98.25 99.92 10038 98.07 95.10 93.21 94.25 96.43 99 04 93.96 94.48 95.69 97.05 99.19 99.68 96.81 93.50 97.33 97.11 104.97 116.43 96.06 93.43 96.61 97.08 103.03 105.74 96.42 92.14 95.64 95.74 98.12 100.24 95.43 91.26 95.01 94.23 101.75 110.36 93.30 90.90 97.56 97.25 108.23 135.75 95.53 91.09 101.51 100.83 105.98 112.68 100.21 90.37 98.53 98.49 98.55 98.71 98.87 102.14 94.12 71.10 97.58 100.23 95.33 74.25 98.47 93.28 99.91 72.51 104.04 100.69 99.70 69.89 104.22 118.23 105.85 70.81 111.18 107.06 104.25 108.67 105.38 111.52 106.31 109.49 104.74 112.20 106.34 125.28 102.14 100.45 127.94 102.56 102.20 129.38 102.91 102.34 133.04 103.84 101.12 132.58 102.14 100.03 132.39 103.72 101.25 116.81 119.42 122.07 124.79 127.46 130.29 133.09 10241 122.50 92.48 139.61 97 99 116.39 98.35 126.26 94.98 120.29 96.51 133.70 94.78 124.27 97.52 139.46 99.24 136.51 89.07 164.30 94.49 132.22 93.48 154.65 96.29 140.37 93.05 168.05 107.47 106.89 117.89 115.32 105.66 102.92 108.11 107.73 119.84 117.07 106.38 103.38 110.27 108.64 122.01 118.95 107.16 103.92 110.51 109.59 124.20 120.85 107.98 104.48 111.81 110.64 126.43 122.78 108.91 105.21 113.56 111.58 128.71 124.74 109.70 105.68 98.91 100.00 102.24 104.00 107.89 100.99 102.38 102.80 102.78 2 100.92 100.00 99.84 98.94 101.73 98.53 100.87 100.52 3 101.37 10209 100.43 8944 102.56 104.42 100.00 100.00 100.00 100.00 100.00 100.00 97.55 99.03 99.29 99.93 98.98 96.41 95.71 96.37 100.91 105.22 95.81 93.39 97.43 97.01 103.52 114 76 96.12 90.90 96.04 98.20 98.50 10143 98.09 97.57 98.27 100.33 104.59 9620 100.12 96.61 98.23 99.33 94.16 101.72 99.65 96.37 9 100.61 100.00 99.39 98.66 98.65 99.69 99.51 99.27 99.08 98.85 98.70 98.56 10 11 12 13 101.04 97 45 96.50 97.58 100.00 100.00 100.00 100.00 103.08 89.23 82.70 90.16 97.75 92.11 76.17 94.46 103.10 100.20 71.87 104.48 97.64 83.84 85.65 83.57 106.68 86.63 81.30 87.40 105.62 92.10 82.42 93.50 102.38 94.33 81.41 96.20 89.21 8734 80.11 88.36 101.03 88.04 71.33 90.51 98.63 98.93 82.14 101.39 14 15 16 17 18 100.02 101.94 100.00 100.00 104.52 104.52 105.51 102.97 110.47 105.69 103.61 103.90 106.16 105.25 105.19 104.94 103.10 104.01 104.47 103.12 107.76 104.65 102.74 99.85 19 20 21 104.30 102.05 102.77 100.00 100.00 100.00 125.43 103.26 99.44 127.04 102.36 100.54 131.85 103.15 101.18 118.79 102.90 99.87 125.02 103.97 100.23 127.22 103.75 99.68 130.68 102.40 97.98 127.20 101.66 99.21 127.75 103.07 100.30 22 93.04 100.00 108.32 118.15 128.91 104.90 107.16 109.44 111.77 114.28 23 24 25 26 104 73 91.54 99.91 87.14 100.00 100.00 100.00 100.00 108.16 104.49 84.74 115.53 9906 117.50 94.86 130.18 96.20 133.34 93.28 156.61 107.62 102.31 90.17 108.99 10950 110.43 86.75 123.65 10887 106.37 90.42 115.16 106 64 98.84 71.61 114.32 10086 110.81 92.09 121.16 27 28 29 30 31 32 97.71 97.91 96.94 94.63 98.34 98.93 100.00 100.00 100.00 100.00 100.00 100.00 103.66 103.05 108.04 106.41 102.53 101.52 107.00 106.52 116.86 114.37 105.37 102.82 111.54 110.11 125.34 121.83 108.44 104.82 102.45 101.78 104.77 103.62 101.49 100.96 103.28 102.69 107.01 105.42 102.26 101.46 104.15 103.47 109.17 107.25 102.89 101.72 104.76 104.24 111.21 109.35 103.47 101.92 105.82 105.26 113.77 111.58 104.32 102.30 106.60 106.19 115.94 113.50 105.11 102.71 4 5 6 7 8 110.39 State and local Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 33 95.67 100.00 104.69 109.89 115.73 102.87 104.06 105.29 106.55 107.85 109.18 110.56 111.97 113.43 114.93 116.48 118.08 34 35 36 37 92.59 96.82 98 70 91.42 100.00 100.00 100.00 100.00 119.51 106.40 104.86 111.08 150.60 109.14 104.06 125.33 171.19 117.95 111.34 139.29 109.89 105.42 105.01 106.57 115.54 105.91 104.72 109.47 122.73 107.19 105.36 112.78 129.86 107.08 10435 115.50 140.36 108.28 104.57 119.91 14834 108.42 103.63 123.64 154.44 110.06 104 71 127.09 159.25 109.80 103.34 130.68 16387 117.60 112.51 133.60 168.95 114.64 107.81 136.82 172.90 117.02 109.47 141.72 17906 122.52 115.55 145.01 Addenda: Compensation of general government employees 3 . Federal State and local 38 100.25 100.00 100.40 100.94 102.07 100.25 100.47 100.56 100.30 100.59 100.84 101.03 101.31 101.61 101.80 102.26 102.61 39 40 103.81 98.90 100.00 100.00 97.49 101.52 96.00 102.84 94.70 104.91 98.40 100.96 97.90 101.46 97.56 101.72 96.08 101.92 96.14 102.30 95.97 102.71 96.03 102.95 95.85 103.41 95.36 104.01 94.70 104.54 94.43 105 29 94.32 105.82 See footnotes at the end of the table. 102 • April 2000 SURVEY OF CURRENT BUSINESS Table 7,11.—Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type—Continued [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1997 1999 1998 Chain-type price indexes Government consumption expenditures snd gross investment'. Federal National defense Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software Nondefense Consumption expenditures Durable goods 2 Nondurable goods Commodity Credit Corporation inventory change. Other nondurables Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software 100.00 101.87 103.44 106.24 101.38 101.57 101.94 102.60 102.84 103.20 97.21 100.00 101.33 102.42 105.51 101.22 101.27 101.22 101.61 102.11 96.88 96.36 99.67 91.38 96.24 93.83 100.00 100.00 100.00 100.00 100.00 100.00 101.22 101.68 99.54 97.66 101.96 102.91 102.03 102.91 99.18 86.89 103.66 105.37 104.80 105.92 98.73 91.02 106.89 109.95 101.20 101.61 99.98 102.79 101.70 102.78 101.16 101.58 99.83 96.85 101.84 102.90 101.07 101.54 99.38 94.61 101.90 102.76 101.45 102.00 98.96 96.39 102.40 103.21 101.86 102.61 99.37 89.46 103.24 105.03 99.44 100.00 100.07 99.17 100.58 100.13 100.09 99.90 100.17 99.55 98.91 99.06 101.88 98.53 103.33 97.88 104.45 96.83 105.89 95.68 107.03 98.28 109.66 96.88 101.17 98.86 101.97 98.43 101.50 98.78 102.92 98.21 102.06 98.31 103.70 97.59 102.80 98.17 104.72 97.31 103.22 97.41 104.63 96.47 104.06 97.17 105.15 96.14 105.04 96.55 106.33 95.31 97.90 97.31 100.00 100.00 100.00 100.00 100.00 100.00 101.56 102.13 103.18 104.38 106.86 108.62 101.27 101.72 101.48 102.00 101.53 102.13 101.94 102.66 102.61 103.57 103.27 104.47 103.16 104.39 99.93 97.00 95.55 100.00 100.00 100.00 99.61 102.27 102.94 99.36 104.73 106.62 102.50 109.26 113.82 98.37 101.88 102.64 99.72 102.13 102.66 100.09 102.25 102.75 100.27 102.81 103.71 99.58 103.83 105.50 99.27 104.81 106.08 99.55 104.85 107.01 100.60 100.00 99.15 98.20 99.30 99.34 99.34 99.01 98.92 98.47 98.23 98.10 98.02 99.11 98.92 98.16 100.67 97.20 102.67 102.44 98.97 103.17 97.01 104.36 97.97 106.48 94.30 105.52 99.49 109.17 95.41 101.67 99.24 101.60 98.03 102.39 99.16 102.69 97.47 102.77 98.82 103.68 96.59 102.92 98.67 104.72 95.96 103.28 98.34 105.65 95.16 105.60 98.04 106.00 94.60 104.08 97.81 106.74 93.98 104.50 97.68 107.54 93.47 104.94 99.47 107.99 95.77 105.23 99.13 108.69 95.09 105.50 99.10 109.53 94.78 106.39 100.27 110.46 96.01 97.77 97.66 100.40 96.49 97.75 97.51 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.19 102.30 99.45 99.25 102.75 102.71 104.03 104.35 99.18 94.44 105.77 106.28 106.67 101.48 101.56 99.53 101.29 101.64 101.56 101.74 101.75 99.43 98.72 102.19 102.09 102.36 102.50 99.37 98.49 103.09 103.12 103.18 103.38 99.46 98.52 104.09 104.08 103.27 103.50 99.27 95.62 104.63 104.94 103.70 104.05 99.20 95.19 105.32 105.81 104.41 104.79 99.18 94.23 106.31 106.87 104.73 105.05 99.06 92.72 106.82 107.49 105.09 105.46 98.94 92.31 107.36 108.21 106.14 106.57 98.78 96.39 108.08 108.89 107.23 107.80 98.62 100.43 108.95 109.80 108.24 108.85 99.13 102.09 109.92 110.72 100.00 101.08 101.39 102.86 101.10 101.05 101.48 101.16 101.04 101.49 101.86 101.98 102.64 102.99 103.82 100.73 98.25 97.02 102.00 100.00 100.00 100.00 100.00 108.28 101.72 103.40 107.98 102.64 106.09 93.19 108.56 104.53 109.73 90.89 106.10 101.11 102.09 98.24 107.56 101.68 103.14 97.44 108.13 101.75 103.63 96.36 111.33 102.34 104.75 95.50 107.98 102.24 105.07 94.34 107.65 102.20 105.35 93.49 108.60 102.74 106.41 92.77 107.69 103.36 107.54 92.14 106.35 103.49 108.02 91.44 107.72 104.28 109.33 90.97 109.01 104.75 110.21 90.49 111.14 105.60 111.35 90.65 96.65 100.00 102.77 106.16 109.94 101.88 102.29 103.02 103.90 105.01 105.71 106.65 107.27 108.93 109.50 110.29 111.04 94.46 97.51 100.00 100.00 102.93 102.71 105.84 106.28 111.44 109.40 102.73 101.56 102.82 102.09 102.77 103.12 103.41 104.08 105.21 104.94 105.45 105.81 106.04 106.87 106.68 107.49 110.97 108.21 111.23 108.89 111.64 109.80 111.94 110.72 99.80 97.22 100.15 62 State and local Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 . Other services Gross investment Structures Equipment and software Addenda: Compensation of general government employees3. Federal State and local 97.56 78 107.17 98.87 97.81 108.58 109.40 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures. 2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries by the Federal Government. 3. Compensation of government employees engaged in new own-account investment and related expenditures 103.70 104.03 105.01 105.77 106.64 107.55 102.34 102.45 102.79 104.93 105.16 105.63 106.34 101.85 102.64 99.23 87.42 103.34 105.07 102.07 103.01 98.90 85.49 103.84 105.45 102.32 103.37 99.22 85.18 104.23 105.95 104.21 105.20 98.93 82.52 106.36 109.71 104.47 105.58 98.67 87.76 106.64 109.86 104.93 106.13 98.51 93.93 107.05 109.98 105.58 106.75 98.83 99.86 107.50 110.25 99.15 100.29 100.30 100.76 100.97 105.48 96.20 107.46 94.80 105.87 98.38 108.05 97.15 106.55 98.02 109.26 96.64 107.40 97.94 110.36 96.44 108.29 98.80 110.96 97.31 103.69 105.09 106.28 107.88 106.47 108.22 106.95 108.84 107.76 109.54 99.06 105.44 107.88 100.04 108.59 112.96 101.49 108.89 113.41 103.65 109.45 114.28 104.82 110.10 114.62 100.17 for goods and services are classified as investment in structures and in software. The compensation of all general government employees is shown in the addenda. 4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial measure of the value of the services of general government fixed assets; use of depreciation assumes a zero net return on these assets. April 2000 • SURVEY OF CURRENT BUSINESS 103 Table 7.12.—Chain-Type Quantity and Price Indexes for National Defense Consumption Expenditures and Gross Investment by Type [Index numbers, 1996=100] Line 1995 1996 1997 1998 Line Chain-type quantity indexes 101.22 102.03 Consumption expenditures 96.36 100.00 101.68 102.91 Durable goods 2 .. .. Aircraft Missiles Ships Vehicles Electronics Other durable goods 99.67 99.54 99.27 99.84 99.70 99.18 98.61 98.83 100.00 100.00 100.00 100.00 100.00 100.00 100.00 104.85 97.08 100.13 119.80 93.71 100.04 91.38 81.43 101.42 99.53 100.00 100.00 100.00 100.00 97.66 94.74 99.57 99.97 86.89 67.85 97.58 100.64 96.24 93.83 100.00 100.00 101.96 102.91 105.37 93.17 94.96 99.44 97.85 99.73 98.66 96.56 95.47 92.29 99.88 93.68 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.60 103.47 100.07 101.88 102.53 100.87 102.84 103.58 98.01 100.75 104.17 104.52 106.89 99.17 104.45 104.33 103.04 105.22 108.06 99.22 104.29 108.61 99.80 100.00 98.53 96.83 97.22 100.00 103.33 105.89 100.15 97.36 103.08 97.88 94.25 95.16 101.74 101.05 95.95 100.15 95.68 98.66 103.87 98.49 100.00 100.00 100.00 100.00 100.00 100.00 100.00 89.95 94.48 99.79 99.62 91.89 100.12 93.84 100.00 102.92 105.38 Consumption expenditures 102.09 100.00 99.03 96.37 Durable goods 2 Aircraft Missiles Ships Vehicles Electronics Other durable goods 100.43 100.07 106.65 128.79 117.99 95.89 91.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.29 107.39 90.55 77.14 105.86 105.47 89.06 100.91 113.82 90.62 70.22 77.30 104.87 91.88 99.81 80.71 82.58 100.00 100.00 100.00 100.00 92.45 111.46 103.02 105.22 89.06 139.23 106.05 Nondurable goods Petroleum products Ammunition Other nondurable goods 102.56 104.42 100.00 100.00 96.41 93.39 103.81 105.46 100.61 101.04 91.22 100.58 128.13 102.76 93.21 108.90 97.31 94.88 99.39 103.08 104.83 98.08 110.66 104.71 94.54 92.48 71.26 95.11 90.45 98.66 97.75 91.11 94.64 110.71 101.53 100.28 86.95 61.00 Civilian Consumption of general government fixed capital 4 Other seivices Research and development Installation support Weapons support Personnel support Transportation of material Travel of persons Other Gross investment Structures Equipment and software Aircraft Missiles Ships Vehicles Electronics and software Other equipment Addendum: Compensation of general government employees3 95.71 95.81 National defense consumption expenditures and gross investment'. Services Compensation of general government employees, except own-account investment3. Military Civilian Consumption of general government fixed capital 4 Other services Research and development Installation support Weapons support Personnel support Transportation of material Travel of persons Other 95.77 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.45 100.00 96.50 100.00 82.70 76.17 Structures 94.46 Equipment and software Aircraft Missiles Ships Vehicles Electronics and software Other equipment 92.11 97.58 100.00 100.90 112.06 118.14 92.15 87.35 90.80 100.00 100.00 100.00 100.00 100.00 100.00 90.16 67.20 74.65 88.60 116.77 109.85 91.53 68.03 85.16 95.07 124.98 119.72 90.91 104.43 100.00 96.39 93.36 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures. 2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries. 3. Compensation of government employees engaged in new own-account investment and related expenditures 1998 100.00 97.55 Services Compensation of general government employees, except own-account investment3. Military 1997 96.88 100.00 Nondurable goods Petroleum products Ammunition Other nondurable goods 1996 Chain-type price indexes 101.37 National defense consumption expenditures and gross investment1. 1995 Gross investment Addendum: Compensation of general government employees3 37 99.42 100.62 99.75 96.54 102.44 99.96 for goods and services is classified as investment in structures and in software. The compensation of all general government employees is shown in the addendum. 4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial measu easure of the value of the services of general government fixed assets; use of depreciation assumes a zero net return on th these assets. t 104 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.13.—Chain-Type Quantity and Price Indexes for Gross Government Fixed Investment by Type [Index numbers, 1996=100] Line 1995 1996 1997 1998 Line Chain-type quantity indexes 106.49 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.91 103.30 99.51 100.00 100.00 100.00 84.74 87.25 95.74 94.86 87.27 90.77 129.14 100.00 62.37 42.75 87.84 95.97 87.50 111.43 100.13 100.00 100.00 100.00 100.00 100.00 112.39 98.06 68.48 85.26 76.63 81.03 104.00 90.49 88.48 78.05 98.70 98.80 100.00 100.00 100.00 100.00 104.86 104.70 103.57 88.21 104.06 103.59 104.11 97.18 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.15 103.30 106.73 107.38 100.18 96.21 107.71 107.26 110.66 103.24 90.09 108.62 106.52 91.85 91.68 105.77 100.48 121.09 102.76 97.75 90.16 67.20 74.65 88.60 116.77 109.85 91.53 115.53 111.08 112.71 105.13 94.46 68.03 85.16 95.07 124.98 119.72 90.91 130.18 125.33 Equipment and software2 Federal National defense Aircraft Missiles Ships Vehicles Electronics and software Other equipment Nondefense State and local 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.34 109.18 96.26 117.21 102.50 101.27 108.24 104.62 123.99 102.44 137.71 101.89 98.47 118.27 Addenda: Government enterprise gross fixed investment Federal Structures Equipment and software State and local Structures Equipment and software 100.00 95.27 97.45 91.54 100.00 100.00 100.00 State and local 96.82 100.00 98.69 98.63 96.50 96.50 99.71 101.32 96.09 95.15 100.00 Gross government fixed investment' Structures2 Federal National defense New Buildings Residential Industrial Military facilities3 Net purchases of used structures Nondefense New Buildings Residential Industrial Educational Hospital Other 4 Highways and streets Conservation and development Other 5 Net purchases of used structures State and local New Buildings Residential Industrial Educational Hospital Other 4 Highways and streets Conservation and development.... Sewer systems Water systems Other 5 Net purchases of used structures .... Equipment and software2 National defense . Aircraft Missiles Ships Vehicles Electronics and software .... Other equipment Nondefense State and local Addenda: Government enterprise gross fixed investment... Federal Structures Equipment and software State and local Structures Equipment and software 122.35 97.03 98.12 97.33 98.53 94.86 96.39 88.64 110.39 94.96 93.28 94.41 97.58 100.90 112.06 118.14 92.15 87.35 90.80 87.14 91.42 99.62 104.74 130.61 89.53 98.85 101.09 101.46 92.11 117.50 109.14 102.01 87.86 76.17 76.18 91.86 94.95 84.85 69.61 1. Consists of general government and government enterprise expenditures for fixed assets. 2. Structures and software include compensation of government employees engaged in new own-account investment and related expenditures for goods and services. 3. Consists of Department of Defense new structures, except family housing. 1996 1997 Chain-type price indexes 102.45 94.84 89.23 104.49 106.40 102.21 83.97 82.70 82.71 90.53 98.98 71.82 79.42 96.28 Federal National defense Nondefense 1995 59 98.89 100.00 100.71 100.88 Federal National defense Nondefense 60 61 62 100.11 99.80 100.67 100.00 100.00 100.00 98.69 98.53 98.97 97.29 96.83 97.97 State and local 63 98.25 100.00 101.72 102.64 64 65 66 67 68 69 70 71 72 73 74 97.05 97.20 97.22 97.22 97.73 98.21 96.65 97.00 96.63 97.20 97.17 97.49 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.38 103.23 103.33 103.33 103.17 102.88 103.93 103.40 103.73 103.17 103.24 103.41 106.11 106.27 105.89 105.89 105.79 105.02 107.86 105.94 106.82 106.48 106.03 107.16 96.59 97.83 97.34 97.76 95.80 97.29 96.55 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.75 103.06 103.57 103.30 103.82 102.80 103.54 107.77 106.70 108.37 106.74 105.68 104.95 105.35 97.02 96.99 97.64 98.19 100.00 100.00 100.00 100.00 103.40 103.41 103.35 102.99 106.09 106.10 106.89 105.06 97.83 97.39 97.33 95.88 97.15 97.88 97.88 96.54 98.02 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 103.24 103.51 103.52 103.83 102.86 102.34 102.33 103.81 103.09 106.74 108.41 107.14 105.64 104.92 104.24 104.21 106.61 105.94 99 100 101 102 103 104 105 106 107 108 109 101.30 100.89 100.15 97.36 103.08 99.96 98.66 103.87 98.49 102.67 102.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.31 97.60 97.88 94.25 95.16 101.74 101.05 95.95 100.15 97.01 96.89 94.38 95.21 95.68 89.95 94.48 99.79 99.62 91.89 100.12 94.30 93.19 110 111 112 113 114 115 116 98.51 100.35 97.43 102.44 98.23 97.16 103.40 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.45 98.74 103.10 96.39 103.02 103.21 102.17 103.73 97.00 106.12 92.42 104.81 105.73 100.97 Gross government fixed investment' Structures2 Federal National defense New Buildings Residential Industrial Military facilities 3 ; Net purchases of used structures Nondefense New Buildings Residential Industrial Educational Hospital Other4 Highways and streets Conservation and development Other 5 Net purchases of used structures State and local New Buildings Residential Industrial Educational Hospital Other 4 Highways and streets Conservation and development Sewer systems Water systems Other 5 Net purchases of used structures 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 4. Consists primarily of general office buildings, police and fire stations, courthouses, auditoriums, garages, and passenger terminals. 5. Consists primarily of electric and gas facilities, transit systems, and airfields. April 2000 • SURVEY OF CURRENT BUSINESS 105 Table 7.14.—Chain-Type Quantity and Price Indexes for Gross Domestic Product by Sector [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1999 1997 I II 1999 1998 III IV I II III I IV II III IV Chain-type quantity indexes 1 96.55 100.00 104.25 108.74 113.25 102.63 103.87 104.85 105.63 107.40 107.98 108.99 110.58 111.58 112.10 113.65 2 96.03 100.00 104.77 109.86 114.93 102.96 104.34 105.43 106.34 108.36 108.99 110.14 111.95 113.06 113.61 115.36 117.66 Nonfarm 2 Nonfarm less housing ., Housing Farm 3 4 5 6 96.08 95.76 98.98 92.69 100.00 100.00 100.00 100.00 104.67 105.05 101.24 112.04 109.86 110.65 102.71 109.23 114.99 116.01 105.93 107.95 102.89 103.08 101.16 108.13 104.25 104.57 101.38 110.97 105.30 105.75 101.29 115.81 106.25 106.82 101.13 113.25 108.33 109.06 101.74 110.56 109.00 109.72 102.48 107.23 110.14 110.93 103.08 109.10 111.96 112.91 103.52 110.01 113.10 114.05 104.67 108.67 113.64 114.57 105.34 110.25 115.48 116.49 106.43 103.89 117.75 118.93 107.28 109.01 Households and institutions . 7 97.97 100.00 103.42 105.87 107.96 102.01 102.99 103.98 104.68 105.27 105.64 106.04 106.51 107.07 107.52 108.22 109.05 8 9 101.87 97.83 100.00 100.00 97.87 103.62 110.60 105.70 121.93 107.46 96.53 102.21 96.74 103.22 97.98 104.20 100.25 104.84 103.61 105.33 107.65 105.57 112.54 105.81 118.59 106.08 121.19 106.56 121.56 107.02 122.36 107.71 122.61 108.56 10 99.78 100.00 100.80 101.78 103.35 100.50 100.81 101.00 100.90 101.28 101.62 101.92 102.30 102.71 103.03 103.59 104.06 11 12 102.42 98.54 100.00 100.00 98.55 101.87 97.89 103.61 97.54 106.08 99.08 101.17 98.81 101.75 98.65 102.11 97.67 102.43 97.81 102.91 97.80 103.42 97.97 103.77 97.98 104.33 97.77 105.03 97.44 105.66 97.43 106.49 97.54 107.13 Gross domestic product Business l Private households Nonprofit institutions General government 3 Federal State and local .... 115.67 Chain-type price indexes Gross domestic product .... Businessx Nonfarm 2 Nonfarm less housing . Housing Farm Households and institutions . Private househojds Nonprofit institutions General government3 Federal State and local 13 98.10 100.00 101.91 103.11 104.55 101.33 101.77 102.11 102.44 102.68 102.96 103.30 103.51 104.03 104.37 104.65 105.16 14 98.32 100.00 101.87 102.77 103.84 101.30 101.76 102.07 102.33 102.46 102.67 102.91 103.05 103.41 103.70 103.90 104.35 15 16 17 18 98.50 98.66 97.06 85.65 100.00 100.00 100.00 100.00 102.11 102.04 102.74 85.24 103.11 102.80 106.09 79.60 104.21 103.67 109.41 78.10 101.46 101.44 101.65 90.37 101.99 101.95 102.37 86.38 102.36 102.28 103.10 82.30 102.63 102.50 103.85 81.91 102.86 102.68 104.52 75.77 103.04 102.79 105.36 77.52 103.27 102.92 106.58 78.61 103.30 102.81 107.92 86.53 103.70 103.19 108.53 83.89 104.08 103.55 109.16 77.91 104.29 103.74 109.59 76.97 104.79 104.22 110.34 73.64 19 96.73 100.00 101.59 104.49 108.50 101.02 101.34 101.73 102.26 102.83 104.08 105.08 105.98 107.10 108.03 108.97 109.90 20 21 97.18 96.71 100.00 100.00 102.55 101.55 105.45 104.46 108.55 108.50 101.28 101.01 102.18 101.31 102.99 101.68 103.69 102.21 104.11 102.78 104.95 104.04 105.89 105.05 106.64 105.95 107.31 107.10 108.25 108.02 108.80 108.98 109.84 109.90 22 97.07 100.00 102.38 105.14 108.51 101.62 101.99 102.58 103.35 104.20 104.72 105.54 106.09 107.57 108.10 108.81 109.54 23 24 95.89 97.64 100.00 100.00 102.07 102.53 103.87 105.72 108.22 108.65 101.95 101.47 102.00 101.98 101.90 102.89 102.41 103.78 103.53 104.51 103.54 105.26 103.98 106.25 104.45 106.84 107.81 107.49 107.98 108.17 108.37 109.02 108.73 109.92 1. Equals gross domestic product less gross product of households and institutions and of general government. 2. Equals gross domestic business product less gross farm product. 3. Equals compensation of general government employees plus general government consumption of fixed capital. Table 7.15.—Price, Costs, and Profit Per Unit of Real Gross Product of Nonfinancial Corporate Business [Dollars] Seasonally adjusted Line 1995 1996 1997 1998 1999 1997 I Price per unit of real gross product of nonfinancial corporate business 1 . 1 0.996 Compensation of employees (unit labor cost).... 2 Unit nonlabor cost Consumption of fixed capital 3 4 Indirect business tax and nontax liability plus business transfer payments less subsidies. Net interest Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production). Profits tax liability Profits after tax with inventory valuation and capital consumption adjustments. III IV 1.006 1.006 1.006 I II III IV 1.005 1.005 1.008 1.007 I II III IV 1.009 1.012 1.012 1.014 1.006 1.012 1.004 .644 .652 .658 .643 .644 .642 .648 .649 .652 .653 .656 .656 .659 .659 .657 .235 .111 .232 .110 .234 .111 .235 .111 .236 .111 .234 .110 .233 .110 .232 .110 .232 .110 .231 .110 .234 .110 .232 .110 .232 .110 .235 .112 .236 .111 .099 .097 .096 .097 .097 .098 .097 .096 .096 .096 .095 .098 .096 .096 .096 .098 .026 .027 .026 .026 .027 .027 .027 .027 .026 .026 .026 .026 .026 .026 .027 .027 .112 .122 .127 .122 .120 .126 .126 .130 .125 .124 .121 .124 .118 .122 .121 .118 .121 .035 .077 .036 .086 .036 .091 .032 .090 .033 .087 .035 .090 .035 .091 .037 .093 .035 .090 .033 .091 .033 .089 .033 .091 .031 .088 .032 .089 .034 .087 .034 .084 .034 .086 1.000 1.006 .645 .641 .239 .110 .236 .111 5 .100 6 .029 7 8 9 1. The implicit price deflator for gross product of nonfinancial corporate business divided by 100. 1999 1998 II 106 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.16.—Implicit Price Deflators for Private Inventories by Industry Group [Index numbers, 1996=100] Seasonally adjusted 1996 Line I 1997 II III 1999 1998 II III IV 99.97 99.82 99.32 99.36 98.98 98.07 97.34 96.30 95.64 95.59 96.37 97.56 98.11 104.63 99.66 103.91 103.44 102.94 100.43 100.47 95.90 88.38 85.84 90.74 90.14 88.98 89.47 99.93 99.96 99.89 100.00 99.66 100.43 99.46 99.73 99.11 98.95 99.50 98.27 99.04 99.20 98.85 98.85 98.96 98.72 97.87 98.44 97.15 97.47 97.98 96.83 96.97 97.56 96.23 96.48 96.90 95.96 96.01 95.89 96.15 96.91 96.37 97.60 98.29 96.97 99.95 98.85 97.34 100.75 100.00 100.15 99.76 99.79 99.68 99.97 99.75 99.38 100.35 99.32 99.40 99.20 98.81 99.09 98.37 98.66 98.76 98.51 98.51 98.56 98.44 97.19 97.54 96.62 96.46 96.92 95.71 95.71 96.02 95.21 94.42 94.62 94.08 93.92 94.10 93.64 94.94 94.71 95.33 96.37 95.60 97.63 97.29 96.12 99.23 100.00 100.18 99.73 99.86 99.99 99.65 100.01 100.15 99.79 99.19 99.74 98.27 98.82 99.63 97.47 98.36 99.77 95.99 98.68 99.58 97.17 98.39 99.22 97.00 97.47 98.81 95.21 96.87 98.38 94.32 96.28 97.87 93.59 96.17 97.48 93.97 95.27 95.74 94.53 95.70 95.89 95.44 96.94 96.13 98.42 97.58 96.54 99.48 12 13 14 15 16 17 100.13 100.24 99.98 99.17 99.78 98.29 99.89 100.00 99.74 99.62 99.92 99.18 99.95 100.18 99.59 100.35 99.98 100.91 98.90 99.74 97.46 101.02 99.75 102.90 98.67 99.64 97.02 99.75 99.56 100.03 98.27 99.78 95.67 98.92 99.66 97.81 98.57 99.60 96.81 99.35 99.47 99.16 98.35 99.24 96.84 98.62 99.12 97.87 97.60 98.83 95.50 96.61 98.72 93.46 96.98 98.39 94.55 96.14 98.28 92.94 96.39 97.88 93.84 95.50 97.82 92.03 96.40 97.48 94.55 94.67 97.45 90.50 95.38 95.79 94.70 94.59 95.38 93.48 95.62 95.95 95.08 96.24 95.49 97.57 96.69 96.20 97.62 98.49 95.67 103.20 97.24 96.62 98.40 99.76 96.01 105.95 Retail trade Durable goods Motor vehicle dealers Other Nondurable goods 18 19 20 21 22 99.77 99.84 99.99 99.68 99.67 99.98 100.00 99.99 100.02 99.96 100.21 100.13 100.03 100.24 100.30 100.31 99.96 99.71 100.24 100.72 100.43 100.28 99.55 101.07 100.62 99.98 99.72 98.47 101.09 100.30 99.97 99.33 98.04 100.72 100.76 99.84 99.20 97.78 100.75 100.63 99.82 99.28 97.84 100.86 100.48 99.90 99.03 97.61 100.57 100.94 100.12 99.43 98.48 100.47 100.95 100.35 99.63 98.73 100.61 101.22 100.03 98.66 97.48 99.94 101.68 100.69 99.24 98.02 100.57 102.45 101.68 99.92 99.54 100.35 103.81 101.84 100.00 99.49 100.58 104.07 Other Durable goods Nondurable goods 23 24 25 99.81 100.00 99.80 99.87 100.26 99.85 99.31 101.27 99.16 102.93 100.91 103.07 98.85 101.76 98.63 98.06 102.06 97.76 98.81 101.77 98.59 98.58 101.26, 98.38 95.70 101.26 95.29 95.94 101.13 95.55 94.61 101.69 94.07 94.14 100.62 93.66 94.60 101.40 94.09 97.21 103.45 96.74 100.06 102.41 99.87 100.06 102.84 99.83 I II 99.98 100.39 100.31 Farm 1 2 99.97 105.42 Nonfarm Durable goods Nondurable goods. 3 4 5 99.98 100.17 99.74 99.94 100.06 99.80 Manufacturing Durable goods Nondurable goods . 6 7 8 100.16 100.39 99.80 Wholesale Durable goods Nondurable goods 9 10 11 Private inventories' .... Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods IV I II III IV I II III IV 1 1. Implicit price deflators are as of the end of the quarter and are consistent with the inventory stocks shown in tables 5.12 and 5.13. Table 7.17.—Chain-Type Quantity Indexes for Gross Domestic Product by Major Type of Product [Index numbers, 1996=100] Seasonally adjusted Line 1995 1996 1997 1998 1997 1999 I II 1999 1998 III Gross domestic product 1 96.55 100.00 104.25 108.74 113.25 102.63 103.87 104.85 Final sales of domestic product Chanoe in Drivate inventories 2 3 96.52 100.00 103.76 108.19 113.07 102.35 103.08 104.49 IV I II III 105.63 107.40 107.98 108.99 105.10 106.45 107.79 108.43 IV III IV 110.58 111.58 112.10 113.65 115.67 110.09 111.33 112.26 113.51 115.18 4 95.34 100.00 106.44 112.85 118.90 104.07 106.06 107.33 108.30 111.91 111.07 112.62 115.79 116.63 116.77 119.45 122.74 Final sales Chanae in Drivate inventories 5 6 95.24 100.00 105.15 111.43 118.51 103.34 103.96 106.39 106.90 109.40 110.62 111.15 114.54 116.04 117.33 119.17 121.49 Durable goods Final sales Chance in Drivate inventories 7 8 9 93.62 92.49 100.00 100.00 109.62 108.50 120.28 119.01 128.95 128.79 105.16 104.55 109.36 106.84 111.30 111.10 112.67 111.49 118.80 116.18 117.64 117.73 119.85 118.49 124.85 123.65 125.36 125.29 125.80 127.15 130.13 130.21 134.52 132.51 Nondurable goods Final sales Change in private inventories 10 11 12 96.81 97.58 100.00 100.00 103.78 102.37 106.73 105.24 110.72 110.21 103.15 102.33 103.30 101.56 104.02 102.50 104.66 103.10 106.23 103.84 105.64 104.80 106.68 105.15 108.39 107.15 109.48 108.55 109.38 109.38 110.78 110.29 113.22 112.61 Services 13 97.77 100.00 102.70 105.69 109.26 101.48 102.39 103.14 103.81 104.22 105.52 106.22 106.79 107.61 108.60 109.77 111.07 Structures 14 94.34 100.00 104.36 110.14 114.23 103.58 103.60 104.81 105.46 107.94 109.92 110.67 112.03 114.79 113.99 113.42 114.72 Addenda: Motor vehicle output Gross domestic product less motor vehicle output. 15 16 99.88 96.43 100.00 100.00 106.58 104.16 114.56 108.53 125.25 112.82 101.58 102.67 102.60 103.91 109.28 104.69 112.84 105.37 111.60 107.25 109.24 107.93 110.92 108.92 126.49 110.01 119.36 111.30 121.80 111.75 129.10 113.11 130.73 115.14 Goods April 2000 • SURVEY OF CURRENT BUSINESS 107 Table 7.18B.—Chain-Type Quantity Indexes for Motor Vehicle Output [Index numbers, 1996-100] Seasonally adjusted Line 1995 1996 1997 1998 1997 1999 I Motor vehicle output Auto output Truck output 1 1 2 3 99.88 105.87 94.86 100.00 100.00 100.00 106.58 101.45 110.89 114.56 104.87 122.70 125.25 102.97 143.69 II 101.58 95.99 106.31 102.60 101.00 103.95 1998 III IV I 109.28 103.56 114.08 112.84 105.24 119.23 111.60 102.91 118.90 II 109.24 95.36 120.90 1999 III IV 1 II III IV 110.92 104.55 116.25 126.49 116.65 134.74 119.36 99.19 136.08 121.80 101.00 139.04 129.10 102.88 150.78 130.73 108.82 148.87 4 96.04 100.00 103.20 112.55 119.74 100.85 98.17 106.32 107.45 109.34 114.22 108.03 118.63 115.28 119.13 122.37 122.18 Personal consumption expenditures New motor vehicles Autos Light trucks Net purchases of used autos 5 6 7 8 9 99.61 99.65 102.00 9683 99.48 100.00 100.00 100.00 100 00 100.00 102.90 101.65 101.04 102 37 106.62 114.53 115.33 111.43 11994 112.04 124.74 126.28 124.75 12813 119.97 101.77 100.19 101.61 98.51 106.44 97.93 95.16 94.36 96.11 106.20 105.99 105.31 104.65 106.09 108.00 105.92 105.94 103.55 108 77 105.85 110.45 110.46 108.03 11334 110.47 114.38 119.66 114.98 12520 98.37 112.08 110.45 106.64 114 95 116.85 121.22 120.75 116.09 12627 122.46 121.64 121.16 117.93 125.00 122.93 124.66 125.72 124.82 126.82 121.26 125.41 126.72 123.82 130.16 121.26 127.25 131.53 132.45 130.55 114.42 Private fixed investment New motor vehicles Autos Trucks Light trucks Other Net purchases of used autos 10 11 12 13 14 15 16 90.67 92.45 95.64 89.42 78.05 111.25 98.65 100.00 100.00 100.00 100.00 100.00 10000 100.00 106.91 106.71 101.28 111.90 114.67 106.61 106.02 115.07 114.37 102.10 126.11 126.47 125 29 111.81 132.74 129.72 106.35 152.03 154.88 146.64 118.64 106.36 106.22 104.27 108.08 112.46 99.68 105.73 103.76 103.79 100.31 107.11 110.69 100.28 103.94 108.55 108.11 102.25 113.70 116.70 108.00 106.50 108.95 108.73 98.29 118.71 118.82 11847 107.90 111.21 111.20 103.05 118.97 120.10 11680 111.18 115.46 115.85 105.55 125.70 130.27 117.20 117.37 109.39 108.79 94.31 122.66 119.31 128.60 106.58 124.22 121.64 105.49 137.11 136.20 138.57 112.09 126.04 123.88 102.09 144.69 145.83 142.43 115.90 129.17 127.75 107.97 146.67 148.90 142.44 122.60 140.75 137.06 111.31 161.64 168.43 149.17 123.47 134.98 130.18 104.04 155.11 156.37 152.53 112.58 Gross government investment Autos New trucks 17 18 19 100.06 103.79 98.02 100.00 100.00 100.00 110.38 91.08 121.07 109.63 95.01 117.67 117.93 107.15 123.73 103.21 92.85 108.96 109.77 84.62 123.75 124.01 90.90 142.47 104.51 95.94 109.08 99.61 83.70 108.74 122.02 99.64 134.50 98.49 92.83 101.40 118.22 103.89 126.04 107.78 95.31 114.58 99.74 92.29 103.70 120.88 108.30 127.71 143.29 132.69 148.92 Net exports Exports Autos Trucks Imports Autos Trucks 20 21 22 23 24 25 26 95.31 100.22 86.12 97 21 97.72 94.78 100.00 100.00 100.00 10000 100.00 100.00 105.28 98.31 118.29 109.75 108.65 115.03 100.44 94.32 111.90 116.94 118.90 107.48 96.30 94.43 99.87 143.75 143.37 145.51 99.27 95.10 107.11 111.32 111.26 111.63 104.20 102.09 108.21 109.60 108.72 113.82 107.80 99.05 124.16 111.73 109.64 121.82 109.83 97.02 133.69 106.33 104.98 112.87 110.78 99.58 131.64 114.13 115.32 108.42 102.64 92.92 120.74 113 79 116.58 100.38 89.29 85.02 97.31 112.78 114.01 106.86 99.04 99.75 97.92 127.05 129.71 114.27 92.12 90.26 95.69 138.59 139.67 133.39 100.78 102.60 97.65 139.34 136.13 154.67 93.62 89.63 101.02 147.87 148.38 145.45 98.68 95.22 105.12 149.18 149.32 148.51 36 96.38 100.00 104.60 114.56 127.44 103.49 100.44 107.51 106.98 110.37 115.02 110.65 122.21 122.79 125.48 130.86 130.62 37 88.43 100.00 106.74 112.00 126.04 107.61 104.55 108.14 106.64 110.01 115.59 104.46 117.95 119.83 124.57 134.48 125.26 38 39 102.73 102.66 100.00 100.00 99.77 109.27 98.16 129.63 100.87 149.10 97.95 108.66 98.47 103.55 101.43 112.24 101.23 112.64 97.03 125.05 90.52 132.42 99.05 121.33 106.06 139.71 98.93 136.53 99.28 146.46 103.95 148.58 101.31 164.84 Final sales of domestic product Change in private inventories 27 Autos New Domestic Foreign Used 28 29 30 31 32 New trucks Domestic . Foreign 33 34 35 Addenda: Final sales of motor vehicles to domestic purchasers. Private fixed investment in new autos and new light trucks. Domestic output of new autos 2 Sales of imported new autos 3 1. Except for exports and imports, consists of new trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of personal consumption expenditures, private fixed investment, and gross government investment. 108 • April 2000 SURVEY OF CURRENT BUSINESS Table 7.19.—Chain-Type Quantity indexes for Gross and Net Investment by Major Type [Index numbers, 1996=100] Line Gross private domestic investment Less: Consumption of fixed capital Equals: Net private domestic investment , Fixed investment Less: Consumption of fixed capital Equals: Net fixed investment Nonresidential Less: Consumption of fixed capital .. Equals: Net nonresidential 1996 1997 1998 94.97 86.37 100.00 100.00 100.00 111.51 106.15 120.62 124.52 113.50 143.23 91.46 94.97 85.09 100.00 100.00 100.00 108.52 106.15 112.83 121.37 113.50 135.66 94.22 81.91 100.00 100.00 100.00 110.71 106.85 121.11 124.80 115.14 150.88 100.00 100.00 100.00 108.45 101.89 119.32 112.93 104.09 127.58 100.00 100.00 100.00 111.48 108.23 122.05 129.09 118.30 164.22 98.99 89.21 100.00 100.00 100.00 102.35 102.53 102.22 111.78 105.20 116.19 96.28 97.36 93.81 100.00 100.00 100.00 102.45 103.00 101.19 106.49 106.37 106.77 1995 91.79 Structures Less: Consumption of fixed capital. Equals: Net structures 93.39 Equipment and software Less: Consumption of fixed capital Equals: Net equipment and software 90.08 Residential Less: Consumption of fixed capital Equals: Net residential 99.04 84.01 92.94 80.79 93.13 Change in private inventories Gross government investmentl Less: Consumption of fixed capital Equals: Net government investment .... Federal National defense Nondefense State and local Structures Less: Consumption of fixed capital .... Equals: Net structures Federal National defense Nondefense State and local Equipment and software Less: Consumption of fixed capital .... Equals: Net equipment and software . Federal National defense Nondefense State and local 97.76 100.00 108.89 109.28 98.69 98.20 99.20 100.00 100.00 100.00 102.21 101.81 102.63 102.01 103.57 100.36 99.39 100.00 107.24 103.80 93.28 96.78 45.04 100.00 100.00 100.00 102.76 103.85 87.81 112.71 108.43 171.77 87.25 100.00 120.20 149.42 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; change in inventories is included in government consumption expenditures. April 2000 • SURVEY OF CURRENT BUSINESS 109 8. Supplementary Tables. Table 8.1 .—Percent Change From Preceding Period in Selected Series [Percent] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 II! Gross domestic product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 7.4 4.5 2.8 2.8 Personal consumption expenditures: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 5.5 3.4 2.0 2.0 Durable goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 4.5 5.6 -1.0 -1.0 Nondurable goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Gross private domestic investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Fixed investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Nonresidential: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Structures: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Equipment and software: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator IV 4.3 6.6 -2.2 -2.2 8.6 11.3 -2.4 -2.4 4.3 2.9 1.3 1.3 9.4 7.3 2.0 1.9 1.0 7.0 5.3 1.6 1.6 7.1 4.4 2.6 2.6 2.6 1.5 1.1 1.1 7.7 6.4 1.3 1.3 8.7 11.5 -2.6 -2.6 9.7 10.9 -1.1 -1.1 -6.1 -1.5 -3.7 -3.7 16.3 20.2 -3.3 ^3.3 7.9 5.4 2.3 2.3 5.6 3.8 1.7 1.7 8.1 6.5 1.5 1.5 7.4 5.1 2.2 2.2 15.7 20.4 -3.9 -3.9 9.3 12.4 -2.8 -2.8 -1.9 -1.9 5.6 7.7 -2.0 -2.0 11.1 13.0 -1.7 -1.7 3.7 2.4 1.2 1.2 6.3 5.0 1.3 1.3 10.7 8.9 1.6 1.6 8.5 3.3 5.1 5.1 6.5 3.6 2.8 2.8 11.7 7.6 3.8 3.8 6.1 5.8 .3 .3 7.3 6.1 1.1 1.1 2.4 5.0 -2.5 -2.5 15.1 16.9 -1.5 -1.5 8.9 11.2 -2.0 -2.0 1.8 4.1 -2.3 -2.3 6.3 5.7 1.2 .3 .9 .9 4.3 5.8 -1.4 -1.4 6.5 6.7 -.2 -.2 7.0 9.1 8.5 5.9 2.5 2.5 6.0 2.7 3.3 3.3 6.3 3.1 3.2 3.2 6.2 4.1 2.1 2.1 6.2 4.0 2.1 2.1 7.4 3.4 3.9 3.9 6.1 3.0 3.0 3.0 6.8 4.2 2.5 2.5 6.7 4.5 2.2 2.2 5.2 3.7 1.5 1.5 7.4 4.9 2.4 2.4 6.6 4.7 1.8 1.8 3.7 1.5 2.1 2.1 6.5 4.2 2.3 2.3 7.0 5.2 1.7 1.7 7.2 5.0 2.1 2.1 6.5 3.7 2.7 2.7 4.2 3.0 1.2 1.2 11.3 11.5 -.2 -.1 10.7 11.7 6.0 5.8 -.2 .1 14.0 14.0 21.1 22.0 -.6 -.7 1.1 1.0 .4 .1 7.0 8.0 -.6 -1.0 29.5 33.4 -2.2 -3.0 -5.0 -4.7 -1.0 -.3 11.2 10.4 -.2 .7 12.2 11.5 -.2 .7 3.6 3.6 .1 0 -2.2 -2.1 -.4 -.1 13.1 13.6 -.3 -.4 10.0 .4 .3 7.4 6.0 1.2 8.5 8.5 -.1 -.1 11.0 11.8 -.8 -.8 8.1 8.1 0 0 7.6 7.9 -.2 -.2 8.2 8.6 -.3 -.3 12.5 12.0 .5 .5 3.3 4.1 -.7 -.7 21.0 23.4 -1.9 -1.9 11.4 12.5 -.9 2.1 2.0 .1 .1 13.6 13.8 -.2 -.2 9.4 9.1 .3 .3 6.5 6.6 -.1 -.1 6.9 6.8 .1 .1 3.2 2.6 .5 .5 9.6 10.7 -1.0 -1.0 10.7 12.7 -1.8 -1.8 6.9 8.3 8.4 -1.3 -1.3 -1.0 -1.1 8.7 9.9 -1.1 -1.1 15.2 16.0 -.7 1.5 3.2 -1.7 -1.7 23.3 26.7 -2.6 -2.6 9.7 12.1 -2.2 -2.2 -1.3 0 -1.4 -1.4 13.2 15.3 -1.8 -1.8 7.8 -.9 5.5 7.0 -1.4 -1.4 9.4 10.9 -1.3 -1.3 2.9 2.9 0 0 1.2 10.4 10.2 9.8 .4 .4 9.0 10.0 -.9 4.8 4.2 4.2 7.1 2.7 2.7 12.9 8.5 4.1 4.1 7.4 4.1 3.1 3.1 .2 -2.4 2.6 2.6 12.7 8.0 4.3 4.3 .4 -4.0 4.6 4.6 17.1 11.2 5.3 5.3 8.5 4.3 3.9 3.9 6.8 5.7 1.0 1.0 10.1 7.1 2.8 2.8 -6.6 3.6 3.6 9.5 5.8 3.5 3.5 -4.6 -5.8 1.3 1.3 -3.2 -5.3 2.2 2.2 -3.8 3.4 3.4 2.9 -.5 3.5 3.5 10.6 11.5 8.7 11.0 -2.1 -2.1 8.5 11.5 -2.6 -2.6 11.8 15.8 -3.4 -3.4 9.1 12.0 -2.5 -2.5 7.0 10.1 -2.8 -2.8 11.7 15.2 -3.0 -3.0 14.5 17.7 -2.7 -2.7 2.8 -3.6 -3.6 29.6 34.7 -3.8 -3.8 9.5 13.8 ^3.8 -3.8 -.7 2.4 -2.9 -3.0 14.4 18.6 -3.5 -3.5 10.8 12.5 -1.6 -1.6 8.4 11.2 -2.5 -2.5 12.6 15.7 -2.7 -2.7 -1.1 -1.1 9.6 2.9 4.0 Residential: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator -.1 -3.6 3.6 3.6 9.7 7.4 2.1 2.1 5.1 2.3 2.7 2.7 12.0 9.2 2.6 2.6 11.5 7.4 3.9 3.9 7.0 4.7 2.1 2.1 .6 4.2 4.1 9.2 6.6 2.4 2.4 14.3 14.0 .3 .3 16.9 13.6 3.0 3.0 12.7 8.0 4.4 4.3 14.7 9.8 4.5 4.5 17.3 12.9 4.0 4.0 9.3 5.5 3.6 3.6 .2 -3.8 4.1 4.1 4.0 1.8 2.2 2.2 Exports of goods and services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 12.9 10.3 2.4 2.4 8.2 -1.3 -1.3 10.7 12.5 -1.5 -1.5 -.2 2.2 -2.3 -2.3 3.3 3.8 -.5 -.4 16.3 15.9 .3 .3 10.0 11.3 -1.2 -1.2 0 1.7 -1.7 -1.7 -5.6 -1.5 -4.2 -4.2 -6.7 -3.9 -1.9 -1.9 -45 -1.6 -3.0 -3.0 14.5 16.3 -1.5 -1.5 -5.9 -5.5 -.5 -.5 4.7 4.0 .7 .7 13.0 11.5 1.3 1.3 12.9 10.1 2.6 2.6 Exports of goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 14.6 11.9 2.4 2.4 5.9 8.7 -2.6 -2.6 11.4 14.5 -2.7 -2.7 -1.1 2.1 -3.1 -3.1 2.6 4.0 -1.4 -1.4 13.3 14.4 -.8 -.9 17.0 18.3 -1.1 -1.1 11.6 13.0 -1.3 -1.3 .7 3.5 -2.7 -2.7 -7.3 -2.8 -4.6 -4.6 -11.6 -8.8 -3.0 -3.0 -2.7 1.6 -4.2 -4.2 16.6 19.4 -2.3 -2.3 -10.5 -9.3 -1.4 -1.4 3.7 4.3 -.6 -.6 17.7 16.9 .7 .7 14.0 11.1 2.6 2.6 Exports of services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 8.9 6.4 2.4 2.4 9.0 6.8 2.0 2.0 9.1 7.6 1.4 1.4 2.2 2.5 -.3 -.3 5.0 3.2 1.7 1.8 -5.5 -4.9 -.6 -.6 14.6 10.4 3.8 3.8 6.2 7.2 -1.7 -2.7 1.0 1.0 -1.5 See footnote and note at the end of the table. 1.6 -3.1 -3.1 -6.5 -8.5 0 0 9.2 5.7 4.1 1.5 1.5 10.4 7.6 2.6 2.6 110 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.1.—Percent Change From Preceding Period in Selected Series—Continued [Percent] Seasonally adjusted at annual rates Line 1997 1995 1997 1999 1999 Imports of goods and services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 11.2 8.2 2.7 2.7 6.7 8.6 -1.8 -1.8 9.7 13.7 ^3.6 5.6 11.6 -5.3 -5.3 12.2 11.7 .4 .4 10.2 15.5 -4.6 -4.6 10.4 19.1 -7.3 -7.3 14.7 17.6 -2.4 -2.4 2.5 5.2 -2.5 -2.5 2.1 14.4 -10.7 -10.8 8.4 13.0 -4.0 -4.0 .3 5.2 ^.6 -4.6 10.5 10.8 -.3 -.3 9.2 12.5 ^3.0 -3.0 20.4 14.4 5.2 5.2 22.1 14.9 6.2 6.2 14.0 8.7 4.9 4.9 Imports of goods: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 12.0 9.0 2.7 2.7 6.7 9.4 -2.5 -2.5 9.5 14.2 -4.1 -4.1 5.1 11.7 -5.9 -6.9 12.8 12.7 0 .1 8.9 14.6 -4.9 -4.9 10.6 21.2 -8.7 -8.7 14.5 17.0 -2.1 -2.1 2.4 5.2 -2.6 -2.6 1.4 14.0 -11.1 -11.1 7.3 13.6 -5.6 -5.6 -.8 4.9 -5.4 -5.4 11.5 12.8 -1.2 -1.2 9.4 12.6 -2.9 -2.9 21.2 15.5 4.9 4.9 24.2 17.3 5.9 5.9 16.2 9.7 5.9 5.9 7.2 4.1 3.0 3.0 6.6 4.8 1.7 1.7 10.6 11.2 -.5 -.5 8.4 10.8 -2.2 -2.2 17.3 20.6 -2.8 -2.8 9.3 15.6 20.7 -4.2 -4.2 3.2 5.3 -2.0 -2.0 6.2 16.7 -8.9 -9.0 14.5 9.7 4.4 4.3 6.0 1.6 4.4 4.4 8.2 11.9 ^3.3 -<3.3 16.2 8.9 6.7 6.7 11.8 3.6 8.0 7.9 3.3 3.4 -.2 -.1 6.4 5.6 .7 .7 3.2 1.6 1.5 1.5 2.5 -.1 2.6 2.6 -.1 -1.0 .9 .9 7.5 6.0 1.4 1.4 3.2 1.3 1.9 1.9 4.2 2.9 1.3 1.3 9.1 5.1 3.8 3.8 4.3 1.3 2.9 2.9 8.0 4.5 3.3 3.3 13.0 9.3 3.4 3.4 -1.6 -1.4 -.2 -.2 -2.8 -4.2 1.5 1.5 -8.0 -9.8 2.0 2.0 12.9 11.9 .9 -1.9 -2.3 .4 .4 5.3 3.9 8.1 -.5 8.6 8.6 3.0 2.1 6.0 4.1 1.8 1.8 17.8 14.7 2.7 2.7 -.9 -2.4 -15.6 -17.0 1.6 7.9 7.0 .9 -2.0 -2.9 1.5 1.5 1.6 11.1 11.1 -.1 0 1.0 1.0 3.3 -4.0 7.6 7.6 -1.6 -2.6 1.0 1.0 13.1 11.2 1.8 1.8 20.2 17.2 2.5 2.5 -6.2 -7.7 8.3 5.4 2.7 2.7 16.1 13.2 2.6 2.6 -17.8 -17.4 -.4 -.5 20.3 17.9 2.1 2.0 17.2 6.1 10.4 10.4 11.7 10.9 .7 .7 -5.3 -7.1 1.8 1.9 13.6 10.3 3.1 3.0 4.7 3.0 1.7 1.7 6.1 3.3 2.7 2.7 3.7 2.4 1.2 1.2 9.7 8.2 1.4 1.4 4.9 4.0 4.0 9.1 4.8 4.2 4.2 10.5 6.4 3.8 3.8 7.2 6.3 6.7 4.6 2.1 2.1 4.8 3.4 1.4 1.4 5.7 4.5 1.1 1.2 8.1 6.0 2.0 2.0 6.6 5.5 .9 1.1 7.5 5.8 1.6 1.6 5.2 3.2 1.9 1.9 8.1 6.2 1.7 1.7 9.6 7.2 2.3 2.3 Imports of services: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 67 Government consumption expenditures and gross investment: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator Federal: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 4.2 2.2 1.9 1.9 .1 -2.7 2.9 2.9 1.2 -.2 1.3 1.3 -2.9 3.5 3.6 10.0 9.8 .2 .2 National defense: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator -1.3 -0.7 2.5 2.5 -1.3 -2.5 1.2 1.2 -8.7 -11.3 2.9 2.9 9.5 9.6 -.1 -.2 Nondefense: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 3.0 -.5 3.5 3.5 21.6 15.8 4.9 5.0 11.1 10.2 5.4 2.5 2.9 2.9 7.3 4.1 3.1 3.1 State and local: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator -3.5 -3.6 .2 .1 1.6 1.7 6.0 3.4 2.5 2.5 1.4 1.3 .9 Addenda: Final sales of domestic product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 5.4 3.1 2.2 2.2 5.8 3.8 1.9 1.9 6.0 4.5 1.4 1.4 3.7 2.4 1.3 1.3 Gross domestic purchases: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 4.8 2.5 2.2 2.2 6.2 4.5 1.6 1.6 6.7 5.1 1.5 1.5 4.6 3.4 1.2 1.1 8.8 -.1 -.2 Final sales to domestic purchasers: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 5.3 3.0 2.2 2.2 5.7 4.0 1.6 1.6 7.1 5.5 1.5 1.5 4.0 2.8 1.2 1.2 7.2 7.2 0 0 6.8 5.8 8.5 6.7 1.7 1.7 6.7 4.7 2.0 2.0 7.0 5.1 1.8 1.8 8.4 5.9 2.3 2.3 Gross national product: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 4.9 2.7 2.2 2.2 6.0 4.1 1.9 1.9 5.6 4.0 1.4 1.5 4.2 2.9 1.3 1.2 7.8 7.0 7.4 6.3 .9 1.0 5.8 3.8 2.0 2.0 3.3 1.9 1.3 1.4 5.6 1.1 1.1 8.4 6.4 1.9 1.9 Command-basis gross national product: Chain-type quantity index 2.7 4.3 3.9 3.0 7.9 6.3 4.1 5.0 6.1 Disposable personal income: Current dollars Chained (1996) dollars 5.0 2.6 4.7 2.5 5.4 3.3 4.8 5.6 4.1 5.5 3.2 4.8 2.9 7.3 4.7 22.1 53.7 -20.5 -20.5 11.2 55.3 -28.4 -28.4 6.3 45.4 -26.9 -26.9 -19.1 -19.1 4.5 5.6 4.0 3.9 5.1 3.9 4.7 3.4 5.6 4.3 4.5 4.2 4.9 3.8 10.3 51.2 -27.1 -27.1 13.9 53.6 -26.0 -3.5 19.9 -19.8 -19.5 22.6 66.8 -27.9 -26.5 15.3 62.2 -29.4 1 Final sales of computers : Current dollars Chain-type quantity index Chain-type price index Implicit price deflator -.3 44.4 -31.2 -30.9 -6.1 31.6 21.4 44.2 -28.6 -15.8 -28.6 -15.8 24.0 53.2 -19.0 -19.1 Gross domestic product less final sales of computers: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 7.1 5.6 1.2 1.4 5.8 3.4 2.4 2.4 3.1 1.5 1.5 1.6 5.2 1.3 1.3 9.5 7.2 2.2 2.2 Gross domestic purchases less final sales of computers: Current dollars Chain-type quantity index Chain-type price index Implicit price deflator 4.9 1.5 1.6 7.4 5.3 2.0 2.0 4.9 2.6 2.2 2.3 8.0 5.8 2.1 2.1 9.7 7.0 2.6 2.5 10.7 53.9 -28.0 -28.0 1. For some components of final sales of computers, includes computer parts. NOTE.—Contributions to the percent change in real gross domestic product are shown in table 8.2. 6.3 14.1 44.1 -27.2 -26.2 56.1 -26.4 -26.9 -25.9 -28.9 7.4 77.5 -39.9 -39.5 -6.6 15.4 April2000 SURVEY OF CURRENT BUSINESS • 111 Table 8.2.—Contributions to Percent Change in Real Gross Domestic Product Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1999 1998 Percent change at annual rate: 4.9 3.8 3.0 6.9 2.2 3.8 5.9 3.7 1.9 5.7 7.3 2.93 1.05 4.16 2.17 3.89 4.00 2.67 3.14 4.28 3.36 3.33 4.07 .81 .39 .28 .14 -.11 -.40 .30 -.01 1.42 .87 .38 .17 .38 -.02 .31 1.24 .52 .52 .20 .84 .47 .23 .14 .33 -.23 .47 1.51 .94 .44 .13 .96 .13 .55 .28 .71 .30 .34 .08 .62 .10 .39 .13 1.03 .27 .49 .27 1.05 .40 .23 .04 .39 .77 .52 .18 -.07 .14 -.03 -.10 -.15 .13 1.11 .28 .49 .01 .34 .06 -.15 .11 -.04 .14 1.15 .35 .51 -.02 .31 1.28 .60 .24 .07 .36 .49 .23 -.04 .03 .27 .98 .60 .16 -.05 .27 1.69 .20 .83 .04 .62 .64 .24 .09 .04 .28 .73 .26 .21 .03 .23 1.51 1.08 -.14 .07 .50 1.59 .22 .16 .04 .11 .08 .27 .27 .59 1.34 .21 -.08 -.16 .08 .25 -.02 .13 .84 1.19 .16 .25 .09 .16 .09 .23 .09 .38 1.63 .20 .25 .01 .24 .14 .24 .07 .72 1.73 .23 .45 .27 .18 .06 .24 .12 .63 1.51 .31 -.20 1.85 .20 .42 .20 .21 .01 .19 .18 .66 .18 .13 .42 .18 .67 1.88 .28 .53 .37 .15 .14 .30 .05 .58 1.63 .31 .39 .24 .15 .08 .17 .27 .42 2.00 .23 .21 .05 .16 .10 .30 .31 .27 .25 .14 .11 .12 .43 .35 .56 1.53 .28 -.14 -.22 .08 .07 .40 .19 .72 1.93 .99 2.12 3.32 .17 1.30 5.04 -.85 1.74 1.94 .64 -.36 2.26 1.72 1.86 1.49 .13 1.37 .97 .83 -.14 1.19 1.07 .24 .83 1.30 1.12 -.12 1.24 .61 1.80 1.77 .32 1.45 .91 .63 .38 .13 .24 .44 3.45 2.91 .18 2.73 1.20 1.95 1.42 .22 1.21 .83 .34 .01 -.21 .22 .71 2.20 1.79 .18 1.61 1.49 .95 -.18 1.13 .80 1.10 .86 -.16 1.02 1.09 1.16 1.33 -.11 1.44 .88 -.01 .40 .54 2.7 3.6 4.2 4.3 4.2 4.5 2.00 2.14 2.30 3.25 3.45 .37 -.02 .28 .10 .44 .04 .30 .11 .51 .10 .31 .10 .86 .33 .39 .13 .81 .19 .44 .18 .60 .16 .18 .05 .21 .60 .12 .19 .05 .24 .59 .17 .16 .02 .24 .79 .26 .25 .01 .27 Services Housing Household operation Electricity and gas Other household operation Transportation Medical care Recreation Other 1.04 .20 .15 .03 .12 .16 .20 .17 .16 1.10 .12 .18 .05 .13 .17 .22 .12 .29 1.20 .18 .13 -.02 .14 .16 .21 .10 .42 1.59 .24 .21 .03 .18 .10 .29 .12 .64 Gross private domestic investment .47 1.37 1.82 1.39 1.10 .20 .91 1.31 1.22 .25 .97 .64 Gross domestic product Percentage points at annual rates: Personal consumption expenditures Durable goods Motor vehicles and parts Furniture and household equipment Other Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods Other Fixed investment Nonresidential Structures Equipment and software Information processing equipment and software. Computers and peripheral equipment. Software1 Other Industrial equipment Transportation equipment Other Residential .34 .34 .32 .11 .12 .16 .11 .08 -.15 .18 .11 .07 .14 .07 .28 .18 .14 .06 .14 .13 .09 Change in private inventories Farm Nonfarm -.41 -.28 -.14 -.02 .24 -.26 .50 -.05 .55 1.06 .86 .20 -.95 -.87 -.08 .22 -1.04 -.94 -.09 1.37 1.12 .25 -1.65 -1.43 -.22 .09 .21 .41 .31 Federal National defense Consumption expenditures Gross investment Nondefense Consumption expenditures Gross investment -.20 -.19 -.16 -.03 -.01 -.03 .02 -.06 -.06 -.08 .02 0 -.04 .04 -.01 -.11 -.04 -.07 .10 .08 .02 -.06 -.08 State and local Consumption expenditures Gross investment .28 .19 .10 .27 .20 .07 .42 .28 .13 1.47 1.17 .03 .02 .39 1.84 1.23 .50 0 .45 2.41 1.46 .38 .23 .39 Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment. Addenda: Goods Services Structures Motor vehicle output Final sales of computers2 1.03 .13 .90 .56 .11 1. Excludes software "embedded," or bundled, in computers and other equipment. 2. For some components of final sales of computers, includes computer parts. .96 .82 -.39 .21 -.37 -.49 .11 .07 .29 .12 .34 .48 .39 .33 .32 .34 .41 .20 .66 .45 .36 .43 .33 .40 .40 .18 .23 .17 .08 .31 .12 .37 .20 .30 .05 .11 -.02 .15 .21 .17 -.04 0 .18 .12 .15 .11 .27 .21 .15 .19 .19 .31 .10 .29 .15 .03 .19 .04 .26 .29 .09 1.17 .26 .54 .23 .14 .04 .13 .21 .53 .25 .09 .04 -.59 .06 .33 .26 .12 .01 .99 -.19 .41 .16 .30 -.17 .23 .28 .54 .23 .46 .07 .03 -.17 .24 .21 .27 .16 .55 -.14 -.17 .19 .17 .19 -.32 0 .09 .07 -.02 .09 .01 -.19 .20 .94 -.43 1.36 2.02 .57 1.45 -1.63 .66 -.14 .81 .01 1.58 -2.80 -.52 -2.27 1.40 .30 1.10 -.26 -.04 -1.59 .58 -.84 -.85 -.20 -.64 -1.46 -.24 -1.22 1.09 -.18 1.27 -.11 1.36 -1.18 -1.09 -.85 -.47 -.79 -.45 -1.93 -2.01 -.82 .33 -2.13 -1.35 -.73 -.12 .25 .17 .08 -1.43 -1.21 -.22 .48 .37 .10 -1.57 -1.43 -.14 .92 1.09 -.17 -1.78 -1.40 -.38 1.73 1.39 .34 -2.20 -2.03 -.17 1.27 1.03 .24 -2.07 -1.68 -.39 .20 .29 -.09 -.65 -.45 -.73 .29 -1.56 -1.37 -.20 -.17 .12 -.29 -.65 -.52 -.13 1.67 1.38 -.54 -.11 -.16 -.22 .06 -1.77 -1.44 -.33 -1.34 -1.30 -.04 -.61 -.74 .13 -1.53 -1.28 -.24 .42 .32 .10 -1.77 -1.59 -.19 1.19 1.19 0 -1.92 -1.84 -.08 1.08 .83 .24 -1.20 -1.12 .28 1.00 .30 -.01 -.16 1.03 .24 .53 .23 .81 1.61 .28 .19 .12 .07 .10 .03 .07 -.19 -.52 -.32 -.20 .33 .25 .08 .62 .40 .32 .08 .23 .10 .13 -.09 -.01 -.15 .14 -.08 -.02 -.06 -.28 -.10 -.16 .06 -.18 -.06 -.11 -.64 -.76 -.58 -.18 .12 -.06 .18 .42 .40 .02 .28 .11 .17 -.14 .27 .01 .26 -.41 -.33 -.03 -.16 -.19 .03 .13 .08 .06 .13 -.10 -.21 .11 .23 .06 .17 .26 .42 .43 0 -.09 .24 -.12 0 -.11 .36 .30 .06 -.16 -.10 -.06 .87 .65 .50 .14 .22 .11 .11 .37 .31 .52 .29 .23 .47 .26 .21 .38 .34 .04 .39 .27 .28 -.01 .48 .38 .10 .34 .33 .01 .38 .25 .13 .29 .30 -.02 .91 .28 .10 .10 .32 -.22 .55 .37 .18 .75 .33 .41 2.26 1.56 .49 .26 .47 2.09 1.89 .17 .11 .33 3.25 .75 .48 .38 .43 2.94 1.96 0 1.83 1.60 .41 .89 .43 1.38 1.42 .22 .47 .18 5.08 .94 .84 -.15 .54 -1.16 2.68 .65 -.30 2.12 1.45 .25 .21 .62 4.26 1.22 .46 1.94 .40 1.11 1.66 .90 -.87 .18 1.96 -.26 .29 .38 3.47 2.37 -.17 .87 .47 4.20 2.64 .43 .20 .16 -.10 .02 .02 -.03 .05 .14 .41 NOTE.—1 7.6,7.9, 7.11, and 7.1 .10 -.26 -.03 .26 .51 .29 .32 .59 .29 1.24 indexes on which the estimates in this table are based are shown in tables 7.1, 7.2, 7.4, 112 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.3.—Contributions to Percent Change in Real Personal Consumption Expenditures by Major Type of Product Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 1997 1998 1999 Percent change at annual rate: 3.0 Personal consumption expenditures . 3.2 3.4 4.9 5.3 4.4 1.5 6.4 3.3 5.8 6.1 4.0 4.6 6.5 5.1 4.9 5.9 Percentage points at annual rates: Durable goods Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods ..., Gasoline and oil Fuel oil and coal Other Services 1.29 1.22 1.22 -.03 .43 .16 .14 .47 .16 .50 .59 .20 .29 .66 .28 .58 .42 .21 .90 .87 1.19 1.62 .24 .27 .07 .05 .01 .31 .25 .24 .03 .04 -.01 .35 .40 .38 .01 .03 -.01 .40 .62 .35 .06 .04 .02 .59 1.55 1.64 1.79 2.40 .29 .22 .05 .17 .24 .29 .25 .24 .17 .26 .07 .19 .26 .33 .18 .43 .27 .19 -.02 .21 .23 .32 .15 .63 .36 .31 .04 .28 .15 .44 .18 .12 2.63 .14 2.87 .01 3.17 .05 4.43 .55 Motor vehicles and parts Furniture and household equipment. Other , Housing Household operation Electricity and gas Other household operation Transportation Medical care Recreation Other Addenda: Energy goods and services' Personal consumption expenditures less food and energy. 1.85 1.29 2.24 1.45 1.07 .92 1.51 -.03 .46 .14 .79 .77 .29 .71 .36 .21 -.34 .70 .12 1.40 .66 .19 .20 .83 .42 .45 .51 .12 .15 .58 .19 .39 .72 .40 1.71 .10 1.70 1.96 .72 1.44 2.56 .43 .74 .01 0 .02 .52 -.23 .17 -.05 -.02 -.04 .21 .51 .76 -.03 .02 -.06 .47 .93 .37 .11 .08 .03 .55 .35 -.06 .04 .04 0 .40 .23 -.07 -.04 -.03 .39 1.75 2.52 2.61 2.22 2.90 2.76 .23 .37 .14 .23 .13 .33 .13 .56 .32 .39 .01 .37 .22 .38 .11 1.10 .34 .68 .41 .27 .09 .37 .18 .94 .45 -.31 -.58 .27 .19 .62 .27 .44 .80 .57 .24 .21 .48 .08 .89 .29 .63 .31 .32 .02 .28 .27 1.28 .34 1.33 .03 5.93 .36 3.15 -.61 .67 4.54 .34 3.28 2.16 -.61 .45 -.02 1.32 .59 .25 1.16 -.05 .79 .27 -.10 -.06 -.04 .21 -.15 -.23 .20 .12 .08 .13 2.47 2.02 .35 .24 .07 .18 .12 .43 .41 .91 .32 -.11 -.24 .13 .37 -.02 .20 1.26 .12 4.57 -.34 3.96 1. Consists of gasoline, fuel oil, and other energy goods, and of electricity and gas. NOTE.—The quantity indexes on which the estimates in this table are based are shown in table 7.4. The estimates .99 1.07 2.21 .06 -.03 .09 .94 .36 .14 .06 .03 .03 .42 .38 .30 .04 .05 -.01 .34 1.58 -.21 .10 .15 -.05 .73 .95 2.50 3.03 2.90 2.21 .30 -.56 -.73 .17 .11 .42 .18 .49 .49 .58 .36 .22 .12 .27 .40 .64 .35 .32 .07 .25 .15 .46 .47 1.28 .39 .37 .20 .16 .17 .63 .52 .82 -.21 -.32 .11 .11 .58 .27 1.05 4.55 .42 5.78 .13 4.58 .24 4.26 -.22 4.57 .32 1.24 .41 in this table differ from those in table 8.2 because this table shows contributions to real personal consumption expenditures, whereas table 8.2 shows contributions to real gross domestic product. Table 8.4.—Contributions to Percent Change in Real Private Fixed Investment by Type Seasonally adjusted at annual rates Line 1995 1996 1997 1997 1999 1999 1998 Percent change at annual rate: Private fixed investment 8.1 7.9 9.50 7.01 .81 .74 .18 -.37 -.51 -.04 .17 .01 8.6 12.0 7.05 7.33 11.68 1.57 .91 -.56 1.30 -.07 -.74 -1.12 .14 .25 0 2.16 2.32 .20 -.50 .14 .15 -.19 5.48 4.53 8.07 3.96 9.52 5.90 1.59 2.78 18.12 7.69 5.42 7.38 5.78 7.96 5.21 2.87 1.46 1.09 .53 1.96 .78 2.20 1.47 2.12 .62 1.05 -.07 2.09 1.35 1.09 -.25 .02 1.17 2.21 1.00 .74 1.77 1.35 2.63 1.26 2.00 .71 1.89 1.03 1.27 1.23 .28 .61 -1.60 -.20 4.24 1.76 1.97 .77 7.58 1.81 2.34 1.05 .82 1.25 .29 1.63 2.30 1.63 -.01 .99 .34 .04 .81 -.11 .56 .37 1.24 .54 .19 .51 .25 -.17 1.62 .04 .06 .01 .02 6.0 9.3 8.5 11.8 7.06 7.42 7.91 .07 -.14 -.01 1.32 1.25 -.07 .25 -.11 1.60 1.14 -.03 .47 .02 6.19 3.85 6.10 4.19 6.31 4.16 2.30 .75 .80 1.08 .73 .52 2.26 1.20 .74 .45 .96 .50 2.06 1.16 .94 .40 .89 -1.01 1.92 6.6 2.0 13.8 9.12 .04 11.20 5.81 5.18 7.81 2.17 1.43 -1.27 -.21 .05 1.20 1.06 .25 -.20 .08 -1.04 -.21 -.15 -.62 -.06 -.94 -1.52 -.03 .30 .31 -.65 -1.09 .14 .53 -.22 -.08 -.20 -.13 .27 -.02 1.31 4.22 10.00 6.85 4.82 6.11 6.44 5.14 2.25 3.11 2.79 1.48 .94 .31 .86 1.31 2.15 1.51 .56 .22 -3.51 .37 2.63 1.60 .76 .05 6.03 -1.07 2.00 1.00 1.82 -1.00 1.37 1.66 1.36 2.72 .42 .22 3.79 3.36 1.97 2.62 3.25 2.59 1.65 -.02 .71 3.30 2.35 -.45 1.41 1.96 .98 .44 .21 3.72 2.71 .19 .82 3.16 1.89 .70 .58 .04 .01 .07 .06 .04 .09 23.4 12.5 2.44 19.58 .85 -.74 .04 .61 .94 1.46 2.02 .48 9.1 6.8 2.6 Percentage points at annual rates: Nonresidential Structures Nonresidential buildings, including farm Utilities Mining exploration, shafts, and wells Other structures Equipment and software Information processing equipment and software. Computers and peripheral equipment' Software2 Other Industrial equipment Transportation equipment Other Residential Structures Single family Multifamily Other structures Equipment -1.05 -1.43 .33 .05 1.02 .17 .70 .04 .03 -.09 1. Includes new computers and peripheral equipment only. 2. Excludes software "embedded," or bundled, in computers and other equipment. NOTE—The quantity indexes on which the estimates in this table are based are shown in table 7.6. The estimates .99 -.29 -.17 -.87 1.03 .05 .20 -.92 1.79 -.12 .29 .01 2.36 1.05 1.11 2.33 1.24 1.58 .92 3.23 -.83 1.10 -1.91 -.04 1.44 -.98 .46 1.39 -.01 -.12 1.52 -1.01 -1.11 -.01 .11 .44 1.34 -.07 -.83 .06 .04 .02 .95 in this table differ from those in table 8.2 because this table shows contributions to real private fixed investment, whereas table 8.2 shows contributions to real gross domestic product. April 2000 • SURVEY OF CURRENT BUSINESS 113 Table 8.5.—Contributions to Percent Change in Real Exports and in Real Imports of Goods and Services by Type of Product Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 Percent change at annual rate: Exports of goods and services 8.2 12.5 8.38 6.19 .65 1.30 5.26 .45 .49 .24 -.10 .79 4.43 .31 .58 .18 1.90 1.97 2.25 10.3 2.2 3.8 10.20 1.47 .01 1.40 6.51 .97 .78 .54 -.05 -.17 1.31 -.10 .20 .28 11.3 1.7 -1.5 -3.9 12.76 9.15 2.46 -2.02 -.32 2.50 7.86 1.25 .95 .52 -.01 .96 6.85 1.28 .02 .05 2.01 .37 -.75 -.12 .31 -.80 -.80 -.39 .43 -.14 -.33 8.3 15.9 2.99 9.75 .03 .79 1.47 .06 .37 .26 -1.09 .38 7.05 1.82 1.06 .53 -5.5 11.5 10.1 -1.6 16.3 -6.46 1.07 13.36 -6.70 3.02 11.51 7.77 -1.14 -1.53 -1.86 .41 .64 -1.85 .56 -.44 2.29 1.42 4.98 2.77 -.39 2.28 -1.61 -1.94 -2.78 -1.39 .23 .79 1.06 1.15 -.45 1.46 -.18 -.02 1.02 1.04 -2.98 -.97 -.56 4.32 9.00 .37 .63 -.56 -.06 3.59 1.76 .25 1.19 1.05 .48 2.55 -2.63 2.91 1.23 .98 .02 2.30 5.2 14.4 13.0 5.2 10.8 12.5 14.4 14.9 8.7 4.35 11.77 11.35 4.12 10.52 10.53 12.85 14.22 8.11 -.08 .54 -.86 2.69 .21 2.25 1.77 2.93 .20 3.38 .25 .73 .12 1.19 -.15 1.03 .07 -.70 -1.17 2.80 .11 .34 2.18 .39 3.82 2.30 2.28 .47 5.94 .69 2.90 .34 .08 .28 2.36 3.52 2.99 .96 .78 1.16 1.05 6.39 1.12 1.82 .53 .39 1.45 -.66 5.13 3.63 3.53 .75 .11 1.73 -1.92 4.08 .38 3.48 .25 .87 2.67 1.65 1.05 .33 1.99 1.55 .70 .58 Percentage points at annual rates: Exports of goods' Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Automotive vehicles, engines, and parts Consumer goods, except automotive Other Exports of services' •72 Percent change at annual rate: Imports of goods and services 8.6 8.2 11.6 Imports of goods' Foods, feeds, and beverages Industrial supplies and materials, except petroleum and products Petroleum and products Capital goods, except automotive Automotive vehicles, engines, and parts Consumer goods, except automotive Other Imports of services' 7.52 7.84 11.90 .08 .66 -.10 5.13 .24 1.39 .11 .37 .78 .53 4.13 .48 1.28 .27 .38 1.10 .34 5.79 1.12 2.54 .62 .68 .79 1.82 -1.43 3.18 2.18 15.5 19.1 17.6 12.25 17.47 14.29 .18 .27 -.55 5.91 4.81 1.18 .45 3.25 .60 1.95 2.39 7.35 -.29 4.04 1.42 1.59 .89 1.38 .48 6.05 1.12 2.69 1.69 3.30 11.7 13.7 Percentage points at annual rates: .65 .77 10.75 9.81 .28 1.38 .41 3.51 .88 2.48 .86 1.78 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment were reclassified from goods to services. NOTE.—The quantity indexes on which the estimates in this table are based are shown in table 7.10. The esti- .36 .54 0 4.42 2.03 2.85 .55 .97 -.92 2.87 mates in this table differ from those in table 8.2 because this table shows contributions to real exports and to real imports, whereas table 8.2 shows contributions to real gross domestic product. Because imports are subtracted in the calculation of gross domestic product, the contributions of components of real imports have opposite signs in this t a b l e a n d in table 8 2 - - Table 8.6.—Contributions to Percent Change in Real Government Consumption Expenditures and Gross Investment by Type Seasonally adjusted at annual rates Line 1995 1996 1997 1997 1999 1999 Percent change at annual rate: Government consumption expenditures and gross investment . 2.2 1.7 3.7 -.35 -.06 -.33 -.83 -.18 -.11 -.55 -.55 -.34 -.44 -.01 .06 -.49 -.41 -.61 -.21 -.01 0 -.20 -.34 -.45 -.55 .02 .02 -.60 -.28 -.04 .04 -.16 .02 -.18 -.03 -.06 .10 .02 .08 -.03 .17 -.41 -.08 -.32 -.06 0 -.20 .02 -.02 -.20 -.15 .74 1.45 4.95 -.67 -.01 -.10 -.18 .27 -.47 -.90 -1.06 -.26 -.09 -.71 -.32 -.59 -1.21 2.38 2.40 .33 .44 1.63 .07 3.68 2.87 -.11 -.42 3.40 -.23 -.20 -.46 0 -.40 .17 .06 .11 .01 -1.44 .62 -.03 .03 1.53 -.03 -.05 .02 .04 3.59 .81 .02 .80 -1.87 -1.55 .02 -.35 .03 2.03 1.72 1.49 .07 .16 .38 .77 .45 .04 .27 .14 .03 1.33 .36 .04 -.02 .34 1.27 .64 .03 0 .60 -.26 -.93 -.60 -.06 .08 -.62 -.23 .12 .18 .97 .01 .96 .12 -.50 -.49 .18 -.67 .12 -.34 .32 -.06 .37 .12 -.02 .32 .03 .29 .12 .49 .97 -.26 1.22 .13 -.51 -.33 .13 -.47 .13 .20 .63 -.01 .64 1.52 .58 2.01 1.93 .08 .40 1.46 .68 2.12 1:40 .07 .36 .97 .33 1.57 1.68 .07 .34 1.27 .71 5.23 1.83 .07 .36 1.40 .84 .57 1.84 .07 .36 1.40 .83 3.09 2.07 .07 .38 1.62 1.10 4.30 1.95 .07 .40 1.47 .80 .24 .70 .54 .08 .46 .25 .53 .08 -.31 .39 .25 .39 .72 .37 .35 .26 .31 -.11 -.46 .26 .29 3.40 .26 .31 -1.26 -1.57 .30 .27 .25 1.02 .56 .46 .29 .39 2.35 2.04 .31 1.6 -0.1 -1.0 6.0 1.3 1.39 -1.06 3.50 -.50 -1.57 -3.66 4.03 -.82 1.36 .53 .02 .02 .50 -.28 -2.89 -1.76 .23 .21 -2.20 -.32 2.24 1.82 .35 -.11 1.58 -.35 -.04 -.84 -.59 .11 -.36 -.09 -.58 -.89 .32 -.03 -1.19 -.46 -4.32 -3.30 -.19 -.02 -3.08 -.23 2.43 2.34 .15 .01 1.55 .05 .31 .29 2.17 -.35 -.56 -.02 -.03 -.29 .10 -.03 .13 .77 .36 0 .36 -.01 -1.87 -1.13 -.15 -.98 -.03 1.96 .42 -.08 .50 -.04 -.23 .79 .02 .77 -.03 -.69 .31 -.02 .33 -.04 -2.82 -1.02 -.02 -.99 -.02 2.54 .09 -.16 .26 -.02 -.51 1.50 .20 1.30 .55 .46 .02 .13 .31 -.03 .12 -.15 -.09 .02 -.08 .06 .50 .13 .01 .08 .05 -.06 1.83 1.38 .15 .31 .92 .10 1.26 .56 .06 .08 .41 .08 -.46 .66 -.34 .07 -.14 -.27 .26 1.60 .62 .01 .06 .55 .24 -2.36 -.12 -.09 .05 -.08 -.12 -.99 -.36 -.01 .15 -.50 -.36 .10 .24 .10 -.12 .22 .12 -.26 .27 .11 .09 -.14 .19 0 .19 .10 0 .37 -.04 .40 .10 .72 .46 .05 .41 .11 .22 .71 -.11 .81 .11 -.07 -.34 .11 -.45 .11 -.25 -.63 -.59 -.04 .12 -.66 1.00 .64 .36 1.51 .99 .02 .19 .77 .61 1.46 1.08 .03 .30 .75 .42 2.30 1.56 .07 .36 1.13 .58 2.06 1.75 .08 .41 1.26 .50 2.35 1.14 .06 .29 .79 .31 2.57 1.40 .10 .29 1.01 .47 2.14 1.90 .08 .40 1.42 .81 2.15 2.61 1.10 .39 1.48 1.53 .07 .44 1.02 .31 .22 .33 .74 .42 .32 .24 .52 .31 -.07 .38 .20 .28 1.21 .91 .30 .23 .32 1.17 .81 .36 .23 .38 .23 -.09 .32 .23 .48 .58 .22 .36 .23 .48 -.05 — 34 .29 -1.06 -.99 9.3 1.3 5.6 1.1 4.5 5.1 1.5 0.5 2.9 Percentage points at annual rates: Federal National defense Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 Other services Gross investment Structures Equipment and software Nondefense Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 Other services Gross investment Structures Equipment and software State and local Consumption expenditures Durable goods 2 Nondurable goods Services Compensation of general government employees, except own-account investment3. Consumption of general government fixed capital 4 Other services ....'. Gross investment Structures Equipment and software -.17 -.01 -.02 -.13 -.23 .06 .03 .10 0 .20 -.04 .52 .28 .24 1 .21 .12 .37 .11 .26 1. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures. 2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods transferred to foreign countries by the Federal Government. 3. Compensation of government employees engaged in new own-account investment and related expenditures for goods and services are classified as investment in structures and in software. 1.57 .08 .39 2.07 .09 .46 .36 3.11 .29 .19 .17 -1.56 -.13 .65 4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial measure of the value of the services of general government fixed assets; use of depreciation assumes a zero net return on these assets. NOTE.—The quantity indexes on which the estimates in this table are based are shown in table 7.11. The estimates in this table differ from those in table 8.2 because this table shows contributions to real government consumption expenditures and gross investment, whereas table 8.2 shows contributions to real gross domestic product. 114 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.7.—Selected Per Capita Product and Income Series in Current and Chained Dollars [Dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1999 28,131 28,208 23,571 20,613 2,242 5,692 10,955 29,428 29,496 24,660 21,385 19,727 2,322 5,929 11,476 30,983 25,932 22,320 20,610 2,398 6,125 12,087 32,373 32,336 27,195 23,231 21,614 2,580 6,315 12,718 33,885 33,812 28,525 24,307 22,907 2,777 6,747 13,383 28,676 28,753 21,055 19,294 2,218 5,812 11,265 29,428 29,496 21,385 19,727 2,322 5,929 11,476 30,386 30,409 21,887 20,210 2,452 6,044 11,716 1997 1998 1999 Current dollars: Gross domestic product Gross national product Personal income Disposable personal income Personal consumption expenditures Durable goods Nondurable goods Services 30,430 30,449 25,493 21,994 20,337 2,382 6,106 11,849 30,857 30,893 25,780 22,215 20,422 2,345 6,079 11,998 31,165 31,172 26,056 22,410 20,749 2,429 6,156 12,165 30,318 30,361 21,821 20,059 2,390 6,008 11,661 30,522 30,537 21,944 20,317 2,495 6,076 11,749 31,415 31,416 26,397 22,658 20,929 2,437 6,158 12,333 31,939 31,951 26,687 22,863 21,198 2,519 6,212 12,467 32,136 32,136 27,001 23,086 21,524 2,568 6,296 12,660 32,471 32,376 27,362 23,345 21,737 2,572 6,336 12,830 32,941 32,878 27,725 23,628 21,993 2,661 6,417 12,915 33,338 33,285 28,037 23,904 22,381 2,715 6,569 13,096 33,530 33,477 28,348 24,171 22,732 2,755 6,690 13,287 33,993 33,937 28,632 24,389 23,047 2,785 6,778 13,483 34,675 34,545 29,077 24,759 23,465 2,852 6,950 13,662 Chained (1996) dollars: 32,465 32,958 32,418 32,841 23,275 23,485 21,994 22,257 3,002 3,088 6,505 6,608 12,516 12,599 263,073 265,504 268,046 270,595 273,161 267,040 267,671 268,399 269,075 269,591 270,219 270,946 271,623 272,145 272,778 273,518 274,204 Gross domestic product Gross national product Disposable personal income Personal consumption expenditures Durable goods Nondurable goods Services Population (mid-period, thousands) 31,396 31,367 22,569 20,998 2,703 6,228 12,077 32,392 32,328 23,244 21,905 2,986 6,502 12,447 30,028 30,052 21,664 20,031 2,404 6,025 11,602 30,673 30,682 22,118 20,430 2,520 6,065 11,848 31,125 31,143 22,304 20,680 2,615 6,138 11,934 31,220 31,227 22,462 20,942 2,679 6,224 12,048 31,430 31,345 22,650 21,090 2,699 6,245 12,155 31,807 31,751 22,859 21,277 2,820 6,305 12,171 32,033 31,987 23,043 21,574 2,898 6,429 12,272 32,108 32,063 23,172 21,792 2,955 6,466 12,399 Table 8.8B.-Motor Vehicle Output [Billions of dollars] Seasonally adjusted at annual rates Line Motor vehicle output Auto output Truck output1 1995 1996 1997 1998 1997 1999 1999 1998 270.3 130.5 139.8 275.6 126.1 149.5 293.5 127.0 313.3 130.5 182.8 342.4 126.9 215.5 282.1 121.8 160.4 282.7 126.3 156.4 301.6 130.3 171.3 307.3 129.7 177.6 304.7 127.9 176.9 296.9 117.6 179.3 306.1 133.0 173.2 345.3 143.5 201.9 325.0 121.2 203.8 330.9 122.7 208.2 355.0 128.7 226.3 358.8 135.1 223.8 263.3 279.7 288.8 312.3 331.9 284.4 275.9 297.1 297.9 302.8 315.8 301.5 329.0 319.3 329.3 339.2 339.7 Personal consumption expenditures New motor vehicles Autos Light trucks Net purchases of used autos 196.7 146.7 82.2 64.5 50.0 201.6 150.1 81.9 68.3 51.4 207.0 153.6 82.8 70.8 53.4 228.9 173.3 90.6 82.7 55.5 249.7 189.4 100.6 88.8 60.2 206.7 151.8 83.5 68.3 54.9 197.8 143.9 77.4 66.5 53.9 212.2 159.0 85.7 73.3 53.1 211.4 159.6 84.5 75.1 51.8 220.3 166.3 88.0 78.2 54.0 228.0 179.4 93.3 86.1 225.4 166.2 86.8 79.3 59.2 241.8 181.5 94.3 87.2 60.3 242.0 181.8 95.4 86.3 60.2 248.1 188.3 100.6 87.6 59.8 251.9 190.1 99.7 90.4 61.8 256.8 197.6 106.7 90.9 59.1 Private fixed investment New motor vehicles Autos Trucks Light trucks Other Net purchases of used autos 108.0 141.9 71.2 70.7 40.5 30.1 -^33.9 120.8 155.2 75.7 79.5 52.3 27.2 -34.4 130.2 165.2 76.7 88.5 59.5 29.0 -35.0 139.2 175.4 76.7 98.7 64.1 34.7 -36.3 160.8 199.4 79.3 120.2 78.7 41.5 -38.7 129.3 165.5 79.2 86.3 59.1 27.1 -36.1 126.3 161.2 76.1 85.1 57.8 27.3 -34.8 132.9 167.4 77.4 90.0 60.5 29.5 -34.5 132.1 166.8 74.1 92.7 60.6 32.1 -34.7 134.5 170.2 77.6 92.6 60.7 31.9 -35.7 139.2 177.0 79.1 97.8 65.6 32.3 -37.8 132.3 166.9 71.0 96.0 60.3 35.7 -34.6 150.7 187.6 79.2 108.5 69.7 38.8 -36.9 153.8 190.8 76.3 114.5 74.4 40.1 -37.0 157.1 196.4 80.5 115.9 75.7 40.2 -59.3 169.8 210.6 82.8 127.7 85.4 42.3 -40.7 162.4 200.0 77.5 122.6 79.1 43.4 -37.6 Gross government investment Autos New trucks 10.7 3.9 6.8 10.8 3.8 7.0 12.0 3.6 8.4 11.9 3.8 8.1 12.9 4.3 8.6 11.2 3.6 7.7 11.9 3.3 8.7 13.5 3.6 9.9 11.3 3.8 7.5 10.8 3.3 7.5 13.2 3.9 9.2 10.7 3.7 7.0 12.9 4.1 11.7 3.8 8.0 10.9 3.7 7.2 13.2 4.3 15.7 5.3 10.4 -52.2 24.5 16.7 7.7 76.7 63.8 12.8 -63.6 26.0 17.0 9.0 79.5 65.9 13.7 -60.3 27.7 16.8 10.9 88.0 72.2 15.8 -67.7 26.7 16.2 10.5 94.3 79.4 15.0 -81.5 25.9 16.4 9.5 117.3 96.7 20.6 -628 25.9 16.2 9.7 88.7 73.4 15.3 -60.2 27.4 17.5 9.9 87.5 72.0 15.6 -61.4 28.5 17.0 11.4 89.8 73.2 16.7 -56.9 28.9 16.5 12.4 85.9 70.3 15.6 -$2.8 29.3 17.0 12.3 92.1 77.1 15.0 -64.5 27.2 15.9 11.3 91.8 77.8 14.0 -66.9 23.8 14.7 9.1 90.7 75.8 14.9 -76.5 26.3 17.2 9.2 102.8 86.8 16.0 -88.3 24.6 15.6 9.0 112.9 94.1 18.8 -66.8 27.0 17.7 9.3 113.8 92.0 21.8 -95.7 25.1 15.5 9.6 120.8 100.2 20.7 -95.2 26.7 16.6 10.1 121.9 100.8 21.1 7.0 -4.0 4.6 1.0 10.5 -2.3 6.9 4.5 9.4 1.9 -18.9 4.6 16.3 5.7 1.6 15.8 19.1 4.1 3.1 3.6 -.5 1.1 -3.4 -5.5 -3.9 -1.6 2.1 1.0 -.2 -.2 0 1.2 3.3 2.6 1.0 1.6 .7 1.5 1.3 .2 1.1 .2 -5.0 -5.7 .7 -1.1 5.0 1.0 .4 .6 4.0 1.2 .1 .6 -.6 1.1 4.0 3.3 4.0 -.7 .7 2.2 -1.4 3.6 -1.4 -7.7 -14.9 -15.9 1.0 7.2 8.0 11.0 11.7 -.7 -3.0 12.1 11.9 9.5 2.4 .1 .9 .2 .2 -8.4 -6.1 -7.7 1.6 -2.3 5.4 4.1 3.5 .6 1.3 8.2 7.1 4.8 2.3 1.1 3.6 2.9 .6 -2.3 -2.1 -.1 9.0 8.5 .5 3.7 2.5 1.3 1.9 1.6 .2 3.3 3.8 -.5 5.4 3.9 1.5 1.2 .9 .3 -11.2 -12.1 .9 -3.4 -1.7 -1.7 4.2 4.2 0 4.8 3.6 1.2 10.0 10.4 -.4 10.4 11.3 -1.0 11.0 8.7 2.2 Final sales of domestic product Net exports Exports Autos Trucks Imports Autos Trucks Change in private inventories Autos New Domestic Foreign Used New trucks Domestic Foreign Addenda: Final sales of motor vehicles to domestic purchasers. Private fixed investment in new autos and new light trucks. Domestic output of new autos 2 Sales of imported new autos3 2.8 3.1 -.3 315.5 333.2 349.2 379.9 423.4 347.3 336.0 358.5 354.9 365.5 380.3 368.4 405.5 407.6 416.1 434.9 434.9 111.8 128.0 136.2 140.8 157.9 138.3 133.8 137.9 134.7 138.3 144.7 131.3 148.8 150.7 156.2 168.3 156.6 118.2 55.9 116.7 55.3 116.2 60.5 114.2 71.2 116.8 81.3 114.5 60.4 114.0 57.4 119.2 62.1 117.1 62.1 113.0 68.8 104.5 72.6 116.3 66.8 122.8 76.7 114.0 74.7 114.0 79.8 121.7 80.9 117.6 1. Except for exports and imports, consists of new trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of personal consumption expenditures, private fixed investment, and gross government investment. SURVEY OF CURRENT BUSINESS April 2000 • 115 Table 8.9B.-Real Motor Vehicle Output [Billions of chained (1996) dollars] Seasonally adjusted at annual rates Line 1995 1996 1997 1998 1997 1999 I Motor vehicle output Auto output Truck output1 1999 1998 II III IV I II III IV I II III IV 1 2 3 275.3 133.6 141 8 275.6 126.1 149 5 293.7 128.0 165.7 315.7 132.3 183.4 345.2 129.9 214.8 280.0 121.1 158.9 282.8 127.4 155.4 301.2 130.6 170.5 311.0 132.8 178.2 307.6 129.8 177.7 301.1 120.3 180.7 305.7 131.9 173.8 348.6 147.2 201.4 329.0 125.1 203.4 335.7 127.4 207.8 355.8 129.8 225.4 360.3 137.3 222.5 4 268.6 279.7 288.6 314.8 334.9 282.0 274.5 297.3 300.5 305.8 319.4 302.1 331.8 322.4 333.1 342.2 341.7 Personal consumption expenditures New motor vehicles Autos Light trucks Net purchases of used autos 5 6 7 8 9 200.8 149 6 83.5 66.1 51.2 201.6 1501 81.9 68.3 51.4 207.4 152.6 82.7 69.9 54.8 230.9 1732 91.2 81.9 57.6 251.5 189.6 102.1 87.5 61.7 205.1 150.4 83.2 67.3 54.8 197.4 142.9 77.3 65.6 54.6 213.7 158.1 85.7 72.4 55.5 213.5 159.1 84.8 74.3 54.4 222.6 165.9 88.4 77.4 56.8 230.6 179.7 94.1 85.5 50.6 225.9 165.8 87.3 78.5 60.1 244.3 181.3 95.0 86.2 63.0 245.2 181.9 96.6 85.3 63.2 251.3 188.8 102.2 86.6 62.4 252.8 190.3 101.4 88.9 62.4 256.5 197.5 108.4 89.1 58.9 Private fixed investment New motor vehicles Autos Trucks Light trucks Other Net purchases of used autos 10 11 12 13 14 15 16 109.5 143.4 72.4 71 1 408 30.3 -33.9 120.8 155.2 75.7 79 5 52.3 27.2 ^34.4 129.1 165.6 76.6 89 0 60.0 29.0 -36.4 139.0 177.5 77.3 100 3 66.1 34.1 -38.4 160.3 201.3 80.5 120 9 81.0 39.9 ^10.8 128.5 164.8 78.9 85 9 58.8 27.1 -36.3 125.3 161.1 75.9 85.2 57.9 27.3 -35.7 131.1 167.8 77.4 90 4 61.0 29.4 -36.6 131.6 168.7 74.4 94 4 62.1 32.2 -37.1 134.3 172.5 78.0 94 6 62.8 31.8 -38.2 139.5 179.8 79.9 99.9 68.1 31.9 ^0.3 132.1 168.8 71.4 975 62.4 35.0 -36.6 150.1 188.7 79.8 1090 71.2 37.7 -38.5 152.3 192.2 77.2 115.0 76.3 38.8 -39.8 156.0 198.2 81.7 116.6 77.9 38.8 -42.1 170.0 212.7 84.2 128.5 88.1 40.6 -42A 163.1 202.0 78.7 123.3 81.8 41.5 -38.7 Gross government investment Autos New trucks . . . 17 18 19 10.8 4.0 69 10.8 3.8 7.0 12.0 3.5 85 11.9 3.6 8.2 12.8 4.1 8.7 11.2 3.6 7.6 11.9 3.2 8.7 13.4 3.5 10.0 11.3 3.7 7.6 10.8 3.2 7.6 13.2 3.8 9.4 10.7 3.6 71 12.8 4.0 8.8 11.7 3.7 8.0 10.8 3.5 7.3 13.1 4.1 8.9 15.5 5.1 10.4 Net exports Exports Autos Trucks Imports Autos Trucks 20 21 22 23 24 25 26 -52.6 24.8 170 7.8 77.3 64 4 13.0 -53.6 26.0 170 9.0 79.5 65.9 13.7 -59.9 27.3 167 10.7 87.3 71.6 15.7 -66.9 26.1 160 10.1 93.0 78.3 14.7 -89.3 25.0 160 9.0 114.3 94.4 19.9 -62.8 25.8 16.1 9.7 88.5 73.3 15.3 -60.1 27.1 17.3 9.7 87.2 71.6 15.6 -60.9 28.0 168 11.2 88.9 72.2 16.7 -66.0 28.5 16.5 12.0 84.6 69.1 15.4 -62.0 28.8 169 11.9 90.8 76.0 14.8 -63.8 26.7 15.8 10.9 90.5 76.8 13.7 -66.5 23.2 144 8.8 89.7 751 14.6 -75.3 25.7 16.9 8.8 101.1 85.4 15.6 -86.3 23.9 153 8.6 110.2 92.0 18.2 -84.7 26.2 17.4 8.8 110.8 89.7 21.2 -93.3 24.3 15.2 9.1 117.6 97.7 19.9 -93.0 25.6 16.2 9.5 118.7 98.4 20.3 Final sales of domestic product 27 6.6 -4.0 5.2 1.0 10.1 -2.1 8.3 3.9 10.6 1.9 -18.1 3.6 16.6 6.4 2.5 13.3 18.0 Autos New Domestic Foreign Used 28 29 30 31 32 3.7 27 3.3 -7 10 -3.4 -55 -3.9 -1 6 2.1 1.6 4 .5 -1 1.3 3.4 2.6 1.1 1 5 .8 1.2 10 -.1 1 1 .2 -5.9 -4.8 -5.4 6 -1.1 6.6 25 2.1 4 4.1 .6 -5 .1 -6 1.2 5.3 4.4 5.1 -7 .8 .8 22 -1.5 35 -1.5 -7.2 -14.4 -15.7 1 1 7.7 7.2 102 11.0 -7 -3.2 12.9 126 10.4 22 .1 1.7 10 1.0 -1 .8 -7.9 -5.4 -7.0 1.5 -2.5 3.3 1.9 1.3 7 1.3 7.7 6.6 4.3 2.3 1.1 New trucks Domestic Foreign 33 34 35 3.0 3.3 -.3 -.7 -.8 .1 3.5 2.9 .6 -2.2 -2.0 -.1 8.2 7.8 .5 3.7 2.4 1.3 1.8 1.6 .2 3.2 3.6 -.5 5.2 3.8 1.5 1.1 .9 .3 -10.6 -11.4 .8 -3.2 -1.6 -1.7 3.9 3.9 0 4.5 3.3 1.1 9.2 9.6 -.4 9.4 10.2 -.9 9.9 7.9 2.0 Residual 36 0 .1 -.2 -.3 .3 0 -.2 0 .1 .1 -.6 -.4 .1 -.1 .9 .3 .5 Addenda: Final sales of motor vehicles to domestic purchasers. Private fixed investment in new autos and new light trucks. Domestic output of new autos2 Sales of imported new autos3 37 321.1 333.2 348.6 381.7 424.6 344.8 334.7 358.2 356.5 367.8 383.3 368.7 407.2 409.2 418.1 436.0 435.2 38 113.2 128.0 136.6 143.3 161.3 137.7 133.8 138.4 136.5 140.8 147.9 133.7 150.9 153.3 159.4 172.1 160.3 39 40 119.9 56.8 116.7 55.3 116.4 60.5 114.6 71.7 117.7 82.5 114.3 60.1 114.9 57.3 118.4 62.1 118.1 62.3 113.2 69.2 105.6 73.3 115.6 67.1 123.8 77.3 115.4 75.5 115.9 81.0 121.3 82.2 118.2 91.2 Change in private inventories 1. Except for exports and imports, consists of new trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of personal consumption expenditures, private fixed investment, and gross government investment. current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the lines NOTE.-Ohained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 In [ ^ ^ % ^ i n d e x e s for t h e s e r i e s in t h i s t a b l e a r e s h o w n in t a b l e 7 . 18B . 116 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.10.—Farm Sector Output, Gross Product, and National Income [Billions of dollars] Line 1995 Table 8.11.—Real Farm Sector Output, Real Gross Product, and Real Net Product [Billions of chained (1996) dollars] 1996 1997 1998 197.9 222.6 226.2 214.2 194.2 107.1 87.1 6.0 .5 6.3 201.2 108.3 93.0 6.2 .5 6.8 198.2 103.7 -9.2 -9.4 .2 -1.1 208.7 112.1 96.5 6.4 .5 7.8 2.8 3.1 -.4 124.7 110.7 13.9 130.4 114.3 16.1 138.1 122.1 16.0 134.1 119.0 15.1 Equals: Gross farm product 73.2 92.2 88.0 80.2 Less: Intermediate goods and services purchased Intermediate goods and services, other than rent . Rent paid to nonoperator landlords Less: Consumption of fixed capital 24.6 25.4 26.2 27.1 Equals: Net farm product 48.6 61.9 53.1 5.2 6.3 Farm output Cash receipts from farm marketings Crops Livestock Farm housing Farm products consumed on farms Other farm income Change in farm inventories Crops Livestock Less: Intermediate goods and services purchased Intermediate goods and services, other than rent Rent paid to nonoperator landlords 5.0 6.1 Less: Indirect business tax and nontax liability Plus: Subsidies to operators Equals: Farm national income Compensation of employees Wage and salary accruals Supplements to wages and salaries Proprietors' income and corporate profits with inventory valuation and capital consumption adjustments. Proprietors' income Corporate profits Net interest 7.9 9.0 5.0 6.2 94.5 6.6 .5 8.6 .3 Line Farm output Cash receipts from farm marketings . Crops Livestock Farm housing Farm products consumed on farms .. Other farm income Change in farm inventories Crops Livestock 1995 1996 1997 1998 217.9 222.6 237.3 237.9 214.7 121.1 201.2 108.3 218.7 121.2 220.3 121.8 93.7 6.3 .5 7.0 93.0 6.2 .5 6.8 7.9 9.0 98.7 5.9 .5 -12.3 -12.4 .3 -1.1 97.5 6.0 .5 8.2 3.0 3.4 -.4 132.3 117.9 14.3 130.4 114.3 16.1 134.5 119.0 15.5 137.2 121.8 15.5 Equals: Gross farm product 85.5 92.2 103.3 100.7 Less: Consumption of fixed capital 25.1 25.4 25.8 26.3 5.3 10.7 Equals: Net farm product 60.2 66.8 77.9 74.4 NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. .9 -.6 49.7 68.1 63.0 58.6 15.7 13.3 2.4 24.7 16.6 14.2 2.4 42.0 17.5 15.0 2.4 35.5 18.6 16.2 2.4 29.2 22.2 2.5 9.3 34.3 7.7 9.5 29.5 6.0 10.1 25.1 4.1 10.8 9.6 .9 1.7 -.7 Table 8.12.—Housing Sector Output, Gross Product, and National Income Table 8.13.—Real Housing Sector Output, Real Gross Product, and Real Net Product [Billions of dollars] [Billions of chained (1996) dollars] Line Housing output' Nonfarm housing Owner-occupied .. Tenant-occupied . Farm housing Less: Intermediate goods and services consumed Equals: Gross housing product Nonfarm housing Owner-occupied .... Tenant-occupied .... Farm housing 1995 1996 1997 1998 712.3 742.3 777.9 822.8 706.3 529.3 771.5 585.5 186.0 816.2 622.6 177.0 736.1 555.4 180.6 6.0 6.2 6.4 6.6 89.9 94.4 103.9 116.8 622.5 647.9 673.9 705.9 617.5 459.8 157.7 5.0 668.6 505.7 162.9 5.3 126.2 67.6 700.4 531.5 169.0 5.5 131.9 71.9 -68.6 -60.0 193.6 Less: Consumption of fixed capital Capital consumption allowances Less: Capital consumption adjustment 115.9 60.3 -55.6 642.8 482.3 160.5 5.1 119.6 63.6 -56.0 Equals: Net housing product 506.6 528.4 547.7 574.0 Less: Indirect business tax and nontax liability plus business transfer payments. Plus: Subsidies less current surplus of government enterprises 114.4 118.9 123.4 127.9 21.8 23.3 23.9 23.9 Equals: Housing national income 413.9 432.8 448.3 470.0 8.1 23.2 8.4 22.6 9.0 21.6 9.6 22.0 100.7 111.2 111.5 119.3 4.8 4.7 4.7 4.9 277.3 285.7 301.6 314.2 Compensation of employees 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 1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in table 2.4. Line 1995 1996 1997 1998 734.0 742.3 755.9 775.2 2 3 4 5 727.7 546.1 181.6 6.3 736.1 555.4 749.9 569.0 769.3 586.6 180.6 180.9 182.6 6.2 6.0 5.9 6 92.6 94.4 100.1 110.0 7 641.4 648.0 655.8 665.1 8 9 10 11 636.2 474.9 161.3 5.2 642.8 482.3 160.5 650.8 491.9 158.9 660.2 500.9 159.4 Housing output 1 Nonfarm housing Owner-occupied Tenant-occupied Farm housing Less: Intermediate goods and services consumed , Equals: Gross housing product Nonfarm housing Owner-occupied Tenant-occupied Farm housing Less: Consumption of fixed capital 12 118.5 Equals: Net housing product 13 523.0 5.1 5.0 4.9 119.6 122.5 125.7 528.4 533.2 539.4 1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in table 2.5. NOTE.—Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. SURVEY OF CURRENT BUSINESS Table 8.14.—Consumption of Fixed Capital by Legal Form of Organization April 2000 • Table 8.16.—Business Transfer Payments by Type [Billions of dollars] [Billions of dollars] Line Line 1995 1996 911.7 956.2 1,009.1 1,064.6 743.6 781.9 828.5 878.4 Domestic corporate business Financial Nonfinancial Sole proprietorships and partnerships Farm Nonfarm 512.1 74.7 437.5 543.5 80.8 462.7 578.8 87.8 490.9 616.9 96.3 520.6 97.8 22.6 75.2 101.0 23.3 77.8 105.0 24.0 81.1 109.7 24.7 85.0 Other private business Rental income of persons Nonfarm housing Owner-occupied Tenant-occupied Farms owned by nonoperator landlords Nonfarm nonresidentiai properties Fixed assets owned and used by nonprofit institutions serving individuals. Proprietors' income 133.6 101.6 100.6 85.1 15.5 .1 .9 29.7 137.4 104.6 103.6 87.6 16.1 .1 .9 30.5 144.7 110.5 109.5 92.8 16.7 .1 .9 31.9 151.8 115.7 114.7 97.6 17.1 .1 1.0 33.8 24 2.3 2.3 2.3 168.1 174.3 180.5 186.2 Employer contributions for social insurance (3.6;2) 144.3 79.9 64.4 23.9 4.1 19.7 149.2 81.0 68.2 25.0 4.3 20.7 154.2 82.0 72.2 26.3 4.6 21.8 158.6 82.5 76.0 27.6 4.9 22.8 Other labor income (6.11;1) 742.8 630.2 781.6 665.4 828.7 706.0 879.0 750.7 Consumption of fixed capital Private Government General government Federal State and local Government enterprises Federal State and local Addenda: Nonfarm business Nonfarm business less housing 1997 1998 Table 8.15.—Capital Consumption Adjustment by Legal Form of Organization and Type of Adjustment [Billions of dollars] Line Capital consumption adjustment' 1995 1996 -14.3 -2.5 15.4 27.7 Domestic corporate business For consistent accounting at historical cost For current-cost valuation Financial For consistent accounting at historical cost For current-cost valuation Nonfinancial For consistent accounting at historical cost For current-cost valuation 18.6 89.9 -71.3 -20.1 -19.3 -.7 38.7 109.2 -70.6 24.6 91.1 -66.5 -21.2 -21.7 .5 45.8 112.8 -66.9 35.3 97.9 -62.6 -16.9 -18.5 1.5 52.2 116.4 -64.2 45.6 102.8 -67.2 -19.6 -22.3 2.7 65.2 125.0 -59.8 Sole proprietorships and partnerships Farm1 Nonfarm For consistent accounting at historical cost For current-cost valuation 21.9 -8.0 29.9 46.5 -16.6 27.7 -7.9 35.5 52.0 -16.4 37.3 -7.7 45.0 61.5 -16.5 40.5 -7.6 48.2 64.6 -16.4 Other private business1 Rental income of persons Nonfarm housing Owner-occupied Tenant-occupied Farms owned by nonoperator landlords Nonfarm nonresidentiai properties Fixed assets owned and used by nonprofit institutions serving individuals. Proprietors'income -54.8 -47.5 -47.2 -38.8 -8.4 _< -2 -6.7 -54.8 -47.6 ^7.3 -38.8 -8.6 -.1 -.2 -57.1 -49.9 -49.6 -40.7 -6.9 -.1 -.3 -S.6 -58.4 -51.1 -50.8 -41.8 -9.0 -.1 -.3 -6.7 -.7 -.7 Addendum: Capital consumption adjustment for national income (4+13+19+26) 27 -6.5 4.0 -.6 22.0 34.4 1. Except for farm proprietorships and partnerships (line 14) and other private business (line 18), the capital consumption adjustment is calculated in two parts. The adjustment for consistent accounting at historical cost converts depreciation, based on the service lives and depreciation schedules employed by firms when filing their income tax returns, to consistent service lives and empirically based depreciation schedules. The adjustment for currentcost valuation converts the historical-cost series with consistent accounting to a series valued at current cost. For farm proprietorships and partnerships and for other private business, the historical-cost series is based on consistent service lives and empirically based depreciation schedules, so the adjustment reflects only a conversion to currentcost valuation. Business transfer payments Payments to persons insurance payments to persons by business Automobile insurance Medical malpractice insurance Donations by corporate business to nonprofit institutions serving individuals. Other1 Payments to the rest of the world 2 1995 1996 1997 33.5 34.4 36.9 38.1 25.8 13.4 11.1 2.3 7.4 26.4 14.2 11.6 2.6 7.8 27.9 14.9 12.2 2.6 8.4 28.8 15.2 12.5 2.7 9.2 5.0 44 4.6 4.4 7.7 8.0 9.0 9.3 1. Consists largely of cash prizes from business and losses by business due to fraud and unrecovered thefts. 2. Consists of income taxes paid by domestic business to foreign governments on income earned abroad. Table 8.17.—Supplements to Wages and Salaries by Type [Billions of dollars] 1995 1996 1997 761.4 765.4 791.0 821.7 264.5 497.0 275.4 490.0 290.1 500.9 306.0 515.7 359.6 170.1 35.7 23.2 2.5 .9 41.7 85.4 361.0 179.3 36.6 26.9 2.6 1.2 43.2 71.3 381.4 191.9 38.5 26.7 2.7 1.0 44.1 76.5 395.7 204.9 39.1 26.3 2.8 1.0 43.1 78.4 305.3 47.3 1.3 0 256.6 308.6 50.2 1.2 0 257.2 315.7 53.9 1.2 0 260.7 333.1 57.7 1.1 0 274.3 9.5 0 9.5 10.0 0 10.0 10.3 0 10.3 10.4 0 10.4 Workers'compensation Federal (3.6;15) State and local (3.6;19) Private insurance (6.11;31)2 52.8 1.9 11.0 39.9 51.9 1.9 10.2 39.8 50.3 1.9 9.4 39.0 49.7 2.0 9.0 38.8 Unemployment insurance State unemployment insurance (3.6:8) Federal unemployment tax (3.6;9) Railroad employees unemployment insurance (3.6,10) , Federal employees unemployment insurance (3.6;11) ., Private supplemental unemployment (6.11;32) 31.9 22.9 5.8 0 .7 2.6 314 22.2 5.9 0 .6 2.5 30.6 21.4 6.2 0 .5 2.5 29.7 20.5 6.3 .1 .5 2.3 2.4 2.5 2.7 3.0 Line Supplements to wages and salaries 1998 By type Pension, profit-sharing, and other retirement benefit plans Old-age, survivors, and disability insurance (3.6;5) Federal civilian employee retirement (6.11;24) Federal military employee retirement (6.11:25) Railroad retirement (3.6;12) Pension benefit guaranty (3.6,13) State and local employee retirement (6.11;26) Private pension and profit-sharing (6.11 ;22) Health insurance Federal hospital insurance (3.6;6) Military medical insurance (3.6,16) Temporary disability insurance (3.6,18) Private group health insurance (6.11;29)2 Life insurance Veterans life insurance (3.6,14) Private group life insurance (6.11;30)2 1997 159.4 136.4 167.3 143.1 -150.7 -145.6 -144.0 -139.6 For consistent accounting at historical cost . For current-cost valuation 117 Other (6.11 ;33)3 1. Employer contributions to privately administered programs and to publicly administered government employee retirement plans are classified as other labor income. Employer contributions to other publicly administered programs are classified as employer contributions for social insurance. 2. Government contributions to privately administered health, life, and workers' compensation insurance for government employees are classified as other labor income. 3. Consists of judicial fees paid to jurors and to witnesses, compensation of prison inmates, and marriage fees paid to justices of the peace. NOTE.—The numbers in parentheses indicate the tables and line numbers from which the entries in this table are derived. 118 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.20.—interest Paid and Received by Sector and Legal Form of Organization Table 8.18.—Rental Income of Persons by Type [Billions of dollars] Line Rental income of persons Rental income Nonfarm housing Owner-occupied Permanent site Manufactured homes 1995 1996 177.4 180.0 188.6 156.9 167.2 170.5 179.0 147.8 158.5 161.0 170.1 99.5 90.9 8.7 109.2 100.4 112.8 103.3 9.4 120.3 109.9 10.4 48.2 49.7 6.5 3.0 9.6 6.0 3.0 9.5 5.5 Farms owned by nonoperator landlords 3.6 Nonfarm nonresidential properties2 [Billions of dollars] 1998 165.4 48.3 Tenant-occupied (permanent site) .... 1997 8.8 49.3 6.5 2.1 10.2 1. Rental income of owner-occupied farm housing is included in farm income as shown in table 8.10. 2. Includes rental income of private noninsured pension plans. Table 8.19.-Dividends Paid and Received by Sector [Billions of dollars] Line Dividends paid Domestic corporate business1 Financial Nonfinancial Rest of the world 2 Dividends received Domestic corporate business 2 1995 1997 1998 425.4 482.6 496.3 302.9 356.4 402.5 427.0 76.6 226.3 99.0 257.4 115.6 286.9 123.3 303.8 58.4 69.0 80.1 69.3 361.3 425.4 482.6 496.3 117.8 112.4 50.6 67.1 54.0 58.4 Financial 34.3 46.9 Nonfinancial 25.8 31.2 35.4 .3 .3 .3 Rest of the world» Government Persons3 Publicly administered government employee retirement plans ... Other Net corporate dividend payments (16+17) Domestic corporate business (2-7) Rest of the world (5-10) Personal dividend income (15-11) 43.6 55.5 297.4 254.0 15.4 238.5 18.3 279.1 333.4 21.4 311.9 348.3 22.1 326.1 254.2 221.6 32.6 254.0 297.7 257.3 40.4 297.4 333.7 284.8 48.9 333.4 348.6 314.6 33.9 348.3 1. Remitted earnings to foreign residents from their unincorporated U.S. affiliates are treated as dividends paid by domestic corporate business (line 2) and as dividends received by the rest of the world (line 10). 2. Earnings of U.S. residents remitted by their unincorporated foreign affiliates are treated as dividends paid by the rest of the world (line 5) and as dividends received by domestic corporate business (line 7). 3. Dividends received by insured private pension plans are included in dividends received by financial corporate business (line 8), and in imputed interest received by persons, table 8.20 (line 53). Domestic business' Corporate business Financial On deposits 2 On other liabilities Nonfinancial Sole proprietorships and partnerships Farm Nonfarm Other private business Rental income of persons Nonprofit institutions serving individuals Proprietors' income 1995 1996 1997 1998 1,857.0 1,933.0 2,098.0 2,257.0 1,262.7 852.5 513.4 126.4 387.1 339.1 121.7 1,313.4 886.7 531.3 131.6 399.8 355.4 129.7 10.0 119.7 297.0 280.3 15.4 1.3 1,441.1 982.0 587.3 139.7 447.6 394.7 146.3 10.6 135.7 312.8 295.7 15.8 1.2 1,567.9 1,086.6 658.1 145.9 512.2 428.5 156.4 10.6 145.8 9.7 112.1 288.4 272.3 14.7 1.4 324.9 308.3 15.4 1.2 Persons 134.7 149.9 166.7 185.7 Government Federal State and local 357.5 289.6 67.8 366.6 296.2 70.4 369.2 298.6 70.6 368.4 297.7 70.7 Rest of the world To business and persons To Federal Government 102.1 98.2 3.9 103.2 99.1 4.1 121.1 117.9 3.2 135.0 131.8 3.2 1,857.0 1,933.0 2,098.0 2,257.0 1,136.2 1,111.1 925.3 185.8 25.0 0 1,193.3 1,157.8 1,321.2 1,275.9 1,046.1 1,439.6 1,387.8 1,130.0 257.7 485.5 101.7 383.8 491.3 101.7 491.7 105.0 386.7 515.6 109.4 406.1 20.9 59.6 82.6 21.3 61.3 82.4 20.8 61.7 80.7 17.9 62.8 154.8 97.5 57.4 165.9 98.3 67.6 202.7 114.6 88.1 221.2 130.1 91.1 396.4 411.6 466.4 488.1 396.4 255.5 140.9 411.6 269.3 142.3 466.4 306.5 159.9 488.1 324.2 163.8 396.4 411.6 466.4 74.9 54.4 9.1 45.4 20.3 1.8 18.7 .2 67.2 47.7 8.3 39.4 19.3 1.7 17.7 .2 18.5 .2 76.1 56.3 9.0 47.3 19.5 1.7 17.9 .2 307.0 166.1 140.9 319.3 177.0 142.3 363.2 203.3 159.9 382.2 218.4 163.8 Government Federal State and local 9.0 1.2 7.8 9.6 1.3 8.2 11.0 1.5 9.5 11.3 1.4 9.9 Rest of the world 14.5 15.5 17.3 18.5 386.3 464.5 92.8 412.5 511.4 118.1 80.8 312.5 -98.9 275.7 166.7 854.9 435.7 540.3 130.6 85.1 324.6 -104.7 276.4 185.7 897.8 Monetary interest received 361.3 81.3 Line Monetary interest paid Domestic business' Corporate business Financial Nonfinancial Financial sole proprietorships and partnerships3 Other private business Persons 3 Publicly administered government employee retirement plans.. Other 29 Government Federal State and local Rest of the world From business From Federal Government Imputed interest paid Domestic corporate business (financial) Banks, credit agencies, and investment companies Life insurance carriers Imputed interest received Domestic business» Corporate business Financial Nonfinancial Sole proprietorships and partnerships Farm Nonfarm Other private business 45.4 7.9 37.5 20.4 1.7 Persons From banks, credit agencies, and investment companies From life insurance carriers Addenda: Net interest (59+63) Domestic business (2+39-23-43) Corporate (3+39-24-44) Sole proprietorships and partnerships (8-27-47) Other private business (11-28-50) Rest of the world (19-35-67) Net interest paid by government (16-32-64) Interest paid by persons (15) Personal interest income (58+64+65) or (29+51) 58 457.0 92.4 76.4 288.2 -67.2 268.0 134.7 792.5 950.5 207.3 35.4 0 74.9 296.8 -78.2 274.4 149.9 810.6 229.8 45.3 0 51.8 0 1. Excludes interest paid or received by government enterprises, which is included in the government sector. 2. Consists of interest paid on the deposit liabilities of commercial and mutual savings banks, savings and loan associations, and credit unions. 3. Interest received by nonfinancial sole proprietorships and partnerships is considered interest received by persons and is included in line 29. NOTE.—In this table, imputed interest paid (line 38) is the difference between the property income received by financial intermediaries from the investment of depositors' or beneficiaries' funds and the interest paid by them to business, persons, governments, and the rest of the world. In table 8.21, imputed interest (line 155)—the interest component of imputations that affect gross national product-consists of the imputed the imputed interest paid by financial intermediaries other than life insurance carriers to persons and government and of the interest paid on owner-occupied housing and on buildings and equipment owned and used by nonprofit institutions serving individuals. April 2000 • SURVEY OF CURRENT BUSINESS 119 Table 8.21.—Imputations in the National Income and Product Accounts [Billions of dollars] Line Gross national product Gross national product Imputations (112-115+130+135 +136+139+143+144+145+146+147+151+153). Excluding imputations (1-2) 1995 1996 Line 1997 7,420.9 7,831.2 8,305.0 8,750.0 1,117.1 1,159.7 1,222.5 1,284.4 6,303.7 6,671.5 7,082.5 7,465.6 Personal consumption expenditures Imputations (112-115-149-150 +130+135+139+143+144+145+146). Excluding imputations (4-5) 4,969.0 5,237.5 5,524.4 5,848.6 676.5 683.7 711.8 732.0 Gross private domestic investment Imputations (149+150+151) Excluding imputations (7-6) 1,143.8 284.0 Net exports of goods and services and income Imputations (14-17) Excluding imputations (10-11) Exports of goods and services and income receipts Imputations (138) Excluding imputations (13-14) Imports of goods and services and income payments Imputations (138) Excluding imputations (16-17) Government consumption expenditures and gross investment Imputations (136+147+153) Excluding imputations (19-20) Government consumption expenditures Imputations (136+147+153-154) Excluding imputations (22-23) Gross government investment Imputations (154) Excluding imputations (25-26) 4,292.4 4,553.8 4,812.6 5,116.6 -63.9 0 -63.9 1,242.7 1,383.7 1,531.2 314.0 342.3 379.5 928.7 1,041.4 1,151.8 -70.9 0 -70.9 -84.1 0 -64.1 -159.5 0 -159.5 1,050.8 1,119.7 1,250.6 1,251.6 14.5 15.5 17.3 18.5 1,036.3 1,104.2 1,233.3 1,233.2 1,114.7 1,190.6 1,334.7 1,411.1 14.5 15.5 17.3 18.5 1,100.3 1,175.1 1,317.4 1,392.6 1,372.0 1,421.9 1,481.0 1,529.7 168.4 173.0 156.6 162.0 1,215.4 1,259.9 1,312.6 1,356.7 1,133.9 1,171.8 1,222.9 1,261.0 -81.6 -89.7 -95.7 -68.1 1,215.4 1,259.9 1,312.6 1,356.7 238.2 238.2 0 250.1 250.1 0 258.1 258.1 0 268.7 268.7 0 Gross national income Gross national income Imputations (112-115+130+135+136+139+142+151+153) Excluding imputations (28-29) Compensation of employees Imputations (142) Excluding imputations (31-32) 7,394.4 7,798.4 8,308.2 8,797.6 1,117.1 1,159.7 1,222.5 1,284.4 6,277.2 6,638.7 7,085.7 7,513.2 4,202.5 4,395.6 4,675.7 5,011.2 279.3 280.6 284.6 298.7 3,923.2 4,115.0 4,391.1 4,712.5 1995 1996 1997 1998 10.2 10.6 10.9 9.9 3,414.8 3,616.2 3,878.3 4,175.1 Imputations (143+144+145) Excluding imputations (55-56) Other labor income Imputations (146) Excluding imputations (58-59) 497.0 266.1 230.9 490.0 267.2 222.9 500.9 270.9 229.9 515.7 284.7 231.0 Proprietors' income with inventory valuation and capital consumption adjustments. Imputations (128+139+151) Excluding imputations (61-62) 497.7 544.7 578.6 606.1 6.1 491.6 538.1 7.2 571.4 7.6 598.5 Rental income of persons with capital consumption adjustment Imputations (129) Excluding imputations (64-65) 117.9 60.7 57.2 129.7 70.5 59.3 130.2 72.1 58.1 137.4 78.5 58.9 Personal interest income Imputations (135) Excluding imputations (67-68) 792.5 166.1 626.4 810.6 177.0 633.6 854.9 203.3 651.6 897.8 218.4 679.4 Transfer payments to persons Imputations (-124) Excluding imputations (70-71) 885.9 -.1 886.0 928.8 0 928.8 962.4 -.1 962.5 983.6 0 983.6 Personal tax and nontax payments Imputations (-121-132) Excluding imputations (73-74) 778.3 -64.8 863.1 968.3 1,072.6 -88.0 -91.2 -94.4 957.7 1,059.5 1,167.0 Disposable personal income Imputations (53-74) Excluding imputations (76-77) 5,422.6 5,677.7 5,982.8 6,286.2 593.6 619.5 655.2 694.5 4,829.0 5,058.2 5,327.6 5,591.7 Personal outlays Imputations (83+86) Excluding imputations (79-60) 5,120.2 5,405.6 5,711.7 427.4 426.8 440.9 4,692.8 4,978.8 5,270.8 6,056.6 449.9 5,606.7 Personal consumption expenditures Imputations (5) Excluding imputations (82-63) 4,969.0 5,237.5 5,524.4 5,848.6 676.5 683.7 711.8 732.0 4,292.4 4,553.8 4,812.6 5,116.6 Interest paid by persons Imputations (-118-131) Excluding imputations (85-86) 134.7 -549.2 383.9 149.9 -257.0 302.4 166.2 136.2 272.1 192.8 79.4 Personal saving Imputations (149+150+151-125-133) Excluding imputations (88-69) 90 406.8 166.7 185.7 -270.9 -282.1 437.6 467.8 271.1 214.3 56.8 229.7 244.7 -15.0 Proprietors' income with inventory valuation and capital consumption adjustments. Imputations (128+139+151) Excluding imputations (34-35) 497.7 544.7 578.6 606.1 Government current receipts, expenditures, and surplus or deficit 6.1 491.6 6.6 538.1 7.2 571.4 7.6 598.5 Rental income of persons with capital consumption adjustment Imputations (129) Excluding imputations (37-38) 117.9 60.7 57.2 129.7 70.5 59.3 130.2 72.1 58.1 137.4 78.5 58.9 Government current receipts Imputations (147) Excluding imputations (91-92) 2,117.1 2,269.1 2,440.5 2,611.8 3.3 3.2 3.1 3.1 2,113.8 2,265.9 2,437.4 2,608.7 Net interest Imputations (155) Excluding imputations (40-41) 389.8 424.3 -34.5 386.3 443.5 -57.3 412.5 485.2 -72.7 435.7 511.8 -76.2 Government current expenditures Imputations (147+153-154) Excluding imputations (94-95) 2,293.7 2,384.5 2,461.8 2,523.1 -80.6 -97.7 -100.8 -107.0 2,384.3 2,482.2 2,562.6 2,630.2 -176.7 Indirect business tax and nontax liability Imputations (122+123+132) Excluding imputations (43-44) 594.6 84.8 509.8 620.0 88.0 532.0 645.8 91.2 554.5 677.0 94.4 582.6 Government current surplus or deficit Imputations (154-153) Excluding imputations (97-98) 22.2 .1 22.1 22.6 0 22.6 19.0 .1 18.9 20.8 0 20.8 Less: Subsidies less current surplus of government enterprises Imputations (124) Excluding imputations (46-47) Consumption of fixed capital Imputations (125+133+153) Excluding imputations (49-50) 911.7 262.1 649.7 956.2 1,009.1 1,064.6 270.5 282.2 293.4 685.7 726.8 771.2 Personal income, outlays, and saving Personal income Imputations (128+129-124+135+139+143+144+145+146+151) Excluding imputations (52-53) Wage and salary disbursements See footnotes and note at the end of the table. 6,200.9 6,547.4 6,951.1 7,358.9 508.8 531.5 564.0 600.1 5,692.1 6,015.9 6,387.1 6,758.8 3,424.7 3,626.5 3,888.9 4,186.0 -115.4 -21.3 93.9 100.9 103.9 -270.6 -216.3 -125.2 88.7 110.2 -21.5 Gross saving or gross investment Gross investment, or gross saving and statistical discrepancy Imputations (148+154) Excluding imputations (100-101) 1,284.0 1,382.1 1,518.1 1,598.4 314.0 284.0 342.3 379.5 1,000.0 1,068.1 1,175.8 1,219.0 Personal saving Imputations (148-125-133) Excluding imputations (103-104) 302.4 166.2 136.2 272.1 192.8 79.4 Consumption of fixed capital Imputations (125+133+153) Excluding imputations (106-107) 911.7 262.1 649.7 956.2 1,009.1 1,064.6 270.5 282.2 293.4 685.7 726.8 771.2 Government current surplus or deficit Imputations (154-153) Excluding imputations (109-110) -176.7 93.9 -270.6 -115.4 100.9 -216.3 271.1 214.3 56.8 -21.3 103.9 -125.2 229.7 244.7 -15.0 88.7 110.2 -21.5 120 • April 2000 SURVEY OF CURRENT BUSINESS Table 8.21.—Imputations in the National Income and Product Accounts—Continued [Billions of dollars] Line 1995 1996 1997 1998 Owner-occupied housing: Space rent Nonfarm Farm Intermediate inputs Nonfarm Farm Net interest Nonfarm Farm Indirect business tax and nontax liability Nonfarm Farm Subsidies (nonfarm) Consumption of fixed capital Nonfarm Farm Proprietors' income with inventory valuation and capital consumption adjustments (114-117-120-123-127). Rental income of persons with capital consumption adjustment (113-116-119-122+124-126). 534.9 529.3 5.6 70.5 69.5 81.0 80.2 .8 .1 88.1 85.1 3.0 .2 84.2 83.3 .8 0 90.7 87.6 3.2 .2 591.5 585.5 6.0 80.8 79.8 1.0 255.1 254.5 .6 87.2 86.4 .8 .1 96.1 92.8 3.3 .2 60.7 70.5 72.1 1.0 234.4 233.9 .6 561.3 555.4 5.8 74.1 73.1 1.0 241.6 241.0 .6 49.8 51.7 53.4 14.7 3.8 29.7 15.4 3.9 30.5 15.8 4.0 31.9 15.4 4.3 33.8 Services furnished without payment by financial intermediaries except life insurance carriers (imputed interest received). 255.5 269.3 306.5 324.2 166.1 9.0 65.9 14.5 177.0 9.6 67.2 15.5 203.3 11.0 74.9 17.3 218.4 11.3 76.1 18.5 .5 .5 .3 .5 .3 .5 .3 Persons2 Government Business Rest of the world 3 Farm products consumed on farms Output .3 Less: Intermediate inputs .V. Food furnished to employees, including military and domestic service 4 . Standard clothing issued to military personnel 4 Employees' lodging 4 Employer contributions for health and life insurance5 Contributions for social insurance for Federal Government employees for certain programs 6 . Private investment-related imputations Owner-occupied residential structures7 Nonresidential fixed investment by nonprofit institutions serving individuals8. 279.3 280.6 284.6 298.7 9.2 9.5 9.9 10.2 .3 .4 266.1 3.3 .3 .4 267.2 3.2 .3 .4 270.9 3.1 .3 .4 284.7 3.1 284.0 314.0 342.3 379.5 235.8 42.6 263.1 44.7 282.9 52.7 315.6 56.7 1. Residential dwellings owned and used by nonprofit institutions serving individuals are included in owner-occupied housing categories. 2. Includes services furnished without payment by financial intermediaries except life insurance carriers to government employee retirement plans. 3. Classified as a service in exports of goods, services, and income receipts and as an income payment in imports of goods, services, and income payments. 4. For general government employees, recorded as compensation of employees (wages and salaries) and as a sale; government consumption expenditures is not affected. Similar payments for employees of government enterprises are not included in government consumption expenditures; they are deducted in the calculation of the surplus of government enterprises. 5. Health insurance premiums paid by employers are included in the calculation of the "health insurance" category of personal consumption expenditures (PCE); life insurance premiums paid by employers are included in the calculation of the "expenses of handling life insurance and pension plans" category of PCE. 6. Consists of the programs for which a social insurance fund is imputed, and for which contributions are set equal to benefits paid. These payments are funded directly out of the current budget. The specific programs consist of workers' compensation, unemployment insurance, and medical services for the dependents of active duty military personnel at nonmilitary facilities. Source data are not available for the corresponding treatment for similar State and local government programs. Similar payments for employees of government enterprises are not included in government consumption expenditures; they are deducted in the calculation of the surplus of government enterprises. 7.2 399.4 149.2 250.1 412.3 154.2 258.1 427.3 158.6 268.7 Net interest (118+131+134-137-138) Monetary interest paid by persons Owner-occupied housing (118) Interest paid by nonprofit institutions serving individuals (131) Imputed interest paid by banks, credit agencies, and investment companies (134). Less: Imputed interest received By-business (137) By the rest of the world (138) 424.3 249.2 234.4 14.7 255.5 443.5 257.0 241.6 15.4 269.3 485.2 270.9 255.1 15.8 306.5 511.8 282.1 266.8 15.4 324.2 80.4 65.9 14.5 82.7 67.2 15.5 -249.2 -234.4 -14.7 -257.0 -241.6 -15.4 -270.9 -255.1 -15.8 -282.1 -266.8 -15.4 166.1 424.3 -9.0 177.0 443.5 203.3 485.2 -11.0 -270.9 218.4 511.8 -11.3 Personal interest income (134-136-137-138) Net interest (118+131+134-137-138) Imputed interest received by government (-136) Interest paid by persons (-118-131) 48.1 1998 382.5 144.3 238.2 Government investment-related imputations General government consumption of fixed capital 9 Gross government investment 10 78.5 101.0 1997 6.7 Interest paid by persons Owner-occupied housing (-118) Interest paid by nonprofit institutions serving individuals (-131) . .6 90.2 89.3 .9 0 1996 6.2 97.6 3.4 .2 91.2 1.0 266.8 266.1 1995 5.6 628.8 622.6 6.2 92.2 Rental value of nonresidential fixed assets owned and used by nonprofit institutions serving individuals'. Net interest (interest paid) Indirect business tax and nontax liability Consumption of fixed capital Employment-related imputations Line Margins on owner-built housing Specific imputations Interest-related imputations: -9.6 -249.2 -257.0 92.2 74.9 17.3 94.5 76.1 18.5 -282.1 Selected aggregates Gross domestic product Imputations Owner-occupied housing (113-116+114-117) Rental value of nonresidential fixed assets owned and used by nonprofit institutions serving individuals (131+132+133). Services furnished without payment by financial intermediaries except life insurance carriers (135+136+138). Employment-related imputations (142) Farm products consumed on farms (139) Margins on owner-built housing (151) Consumption of general government fixed capital (153) Excluding imputations (170-171) 7,400.5 7,813.2 8,300.8 8,759.9 1,131.6 1,175.2 1,239.8 1,302.9 536.6 510.7 464.4 487.1 53.4 51.7 48.1 49.8 Personal income Imputations Food furnished to employees, including military and domestic service (143). Standard clothing issued to military personnel (144) : Employees' lodging (145) Employer contributions for health and life insurance (146) Owner-occupied farm housing (128) Farm products consumed on farms (139) Margins on owner-built housing (151) Owner-occupied nonfarm housing (129-124) Services furnished without payment by financial intermediaries except life insurance carriers (135). Excluding imputations (180-181) 6,200.9 6,547.4 508.8 531.5 9.5 9.2 6,951.1 564.0 9.9 7,358.9 600.1 10.2 .3 .4 267.2 .2 .2 6.2 70.5 177.0 .3 .4 270.9 .2 .2 6.7 72.0 203.3 .3 .4 284.7 .2 .2 7.2 78.4 218.4 6,015.9 6,387.1 6,758.8 189.6 202.1 279.3 .2 5.6 280.6 .2 6.2 149.2 144.3 6,638.0 .3 .4 266.1 .2 .2 5.6 60.6 166.1 5,692.1 231.6 248.2 298.7 284.6 .2 .2 6.7 7.2 154.2 158.6 7,061.0 7,457.0 7. Consists of owner-occupant purchases of new single-family dwellings, including manufactured homes, expenditures on improvements, and payments of commissions on new and existing residential dwellings, less sales of dwellings to government. The series is calculated from the investment data prepared as part of BEA's capital stock estimates. It differs from the investment data shown in table 5.6 because the series shown in that table reflect total purchases by private business. 8. Excludes investment by nonprofit institutions serving individuals in residential properties, which is included in owner-occupant investment (see footnote 1) and in sales of existing structures to governments. The series is calculated from the investment data prepared as part of BEA's capital stock estimates. It differs from the investment data shown in table 5.6 because the series shown in that table reflect total purchases by private business. 9. The consumption of fixed capital (CFC) of government enterprises is not included in government consumption expenditures; it is deducted in the calculation of the current surplus of government enterprises and is recorded as part of total government CFC. 10. Includes gross investment of government enterprises. NOTE.—"Imputations" are transactions recorded in the national income and product accounts that are not transactions of the market economy. In this table, the imputations shown in the "specific imputations" section are those that affect gross national product (GNP). In table 8.20, imputed interest paid by life insurance carriers (line 41) consists of the property incomes earned on life insurance and pension reserves. These incomes are considered to be incomes received by persons and not by the insurance carriers; this reclassification is not considered an imputation for purposes of table 8.21, because it does not affect GNP. April 2000 • SURVEY OF CURRENT BUSINESS 121 Table 8.22.—Relation of Consumption of Fixed Capital in the National Income and Product Accounts (NIPA's) to Depreciation and Amortization as Published by the Internal Revenue Service (IRS) Table 8.24.—Relation of Net Farm Income in the National Income and Product Accounts (NIPA's) to Net Farm Income as Published by the U.S. Department of Agriculture (USDA) [Billions of dollars] [Billions of dollars] Line 1995 1996 1997 Line Corporations Depreciation and amortization, IRS Less: Depreciation of assets of foreign branches Depreciation or amortization of intangible assets' Other 2 Plus: Accidental damage to fixed capital other than repairable damage Depreciation of computer software not in IRS depreciation Depreciation of mining exploration, shafts, and wells charged to current expense. Depreciation of motor vehicles not in IRS depreciation3 Depreciation of railroad track charged to current expense4 Equals: Capital consumption allowances, NIPA's Less: Capital consumption adjustment Equals: Consumption of fixed capital, NIPA's 496.7 3.3 27.7 13.3 4.1 53.9 13.3 535.8 3.5 32.0 14.9 4.0 59.2 12.3 5.4 5.4 1.6 1.6 530.7 568.1 614.0 18.6 24.6 35.3 45.6 512.1 543.5 578.8 616.9 107.3 116.8 130.5 1.1 9.2 .7 .8 5.3 2.3 1.9 9.6 .8 .6 5.4 2.2 2.7 10.3 .8 .8 5.6 2.4 662.5 Less: Depreciation or amortization of intangible assets Adjustment for misreporting on income tax returns . Plus: Accidental damage to fixed capital other than repairable damage Depreciation of computer software not in IRS depreciation Depreciation of mining exploration, shafts, and wells charged to current expense. Depreciation of motor vehicles not in IRS depreciation3 .5 .5 113.3 126.1 133.2 Less: Capital consumption adjustment 29.9 35.5 45.0 48.2 Equals: Consumption of fixed capital, NIPA's 75.2 77.8 81.1 85.0 1. Consists of intangible assets that the IRS allows to be amortized. 2. Consists of depreciation or amortization of the following items: Breeding, dairy, and work animals; motion picture films; rental videocassettes; and rental clothing. 3. Consists of depreciation of employees' motor vehicles reimbursed by business and depreciation of business motor vehicles charged to current expense. 4. Beginning with 1981, included in IRS depreciation (line 1). 5. Consists of depreciation of assets owned by Federal Reserve banks, Federally sponsored credit agencies, credit unions, and nonprofit institutions serving business; depreciation of interest paid by public utilities for ownaccount investment prior to 1987 (beginning with 1987, included in line 1). 6. Consists of depreciation or amortization of rental videocassettes and rental clothing. Table 8.23.—Relation of Nonfarm Proprietors' Income in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) [Billions of dollars] Line Net profit (less loss) of nonfarm proprietorships and partnerships, plus payments to partners, IRS. 1995 1996 247.3 287.1 1997 311.3 Plus: Adjustments for misreporting on income tax returns Posttabulation amendments and revisions1 Depletion on domestic minerals Adjustment to depreciate expenditures for mining exploration, shafts; and wells. Bad debt expense Income received by fiduciaries Income of tax-exempt cooperatives 213.7 -24.0 224.4 -48.1 4.6 1.1 3.5 6.1 1.1 3.7 1.2 3.9 Equals: Nonfarm proprietors' income, NIPA's 447.8 476.0 504.2 231.8 -54.7 .9 2.9 532.2 1. Consists largely of an adjustment to expense all meals and entertainment, of oilwell bonus payments written off, of adjustments for corporate partners and statutory employees, of interest income, and of margins on ownerbuilt housing. 1997 1998 37.2 54.9 48.6 44.1 Plus: Depreciation and other consumption of farm capital, USDA Farm housing, NIPA's Monetary interest received by farm corporations Valuation adjustment, Commodity Credit Corporation loans Less: Consumption of fixed capital, NIPA's Gross rental value of farm housing, USDA Patronage dividends received from cooperatives Other1 2 3 4 5 6 7 8 9 17.5 6.0 .7 -'.9 24.6 9.4 .5 1.3 17.8 6.2 .8 -.6 25.4 9.9 .6 1.3 17.8 6.4 .7 .4 26.2 10.1 .8 1.4 18.0 6.6 .7 0 27.1 10.8 Equals: Farm proprietors' income and corporate profits with inventory valuation and capital consumption adjustments. Proprietors'income : Corporate profits 10 24.7 42.0 35.5 29.2 11 12 222 2.5 34.3 7.7 29.5 6.0 25.1 4.1 .6 1.7 1. Consists largely of salaries paid to corporate officers and to certain farm operators. [Billions of dollars] 105.1 Equals: Capital consumption allowances, NIPA's 1996 1 Table 8.25.—Relation of Corporate Profits, Taxes, and Dividends in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) Nonfarm sole proprietorships and partnerships Depreciation and amortization, IRS 1995 Net farm income, USDA 1997 1998 795.9 781.9 Line 1995 1996 Total receipts less total deductions, IRS 1 717.8 797.6 Plus: Adjustment for misreporting on income tax returns Posttabulation amendments and revisions1 Income of organizations not filing corporation income tax 2 3 4 85.7 -6.4 27.8 94.1 -4.3 28.4 5 6 7 8 9 222 2.6 30 8.1 -2.1 218 2.7 40 8.2 .6 10 11 12 31.7 -79.2 67.8 33.0 -66.4 74.7 13 14 15 115.5 38.7 92.3 132.9 47.2 107.1 16 17 20.5 7.7 25.3 8.0 18 92.0 100.9 Equals: Profits before taxes, NIPA's 19 668.5 726.3 Federal income and excess profits taxes, IRS 20 198.8 223.7 Plus: Posttabulation amendments and revisions, including results of audit and renegotiation and carryback refunds. Amounts paid to U.S. Treasury by Federal Reserve banks State and local corporate profits tax accruals Less: U.S. tax credits claimed for foreign taxes paid Investment tax credit5 Other tax credits 5 21 -.5 -.1 22 23 24 25 26 23.4 31.7 33.5 20.1 33.0 43.3 89 98 Equals: Profits tax liability, NIPA's 27 211.0 223.6 238.3 240.2 Profits after tax, NIPA's (19-27) 28 457.5 502.7 557.6 541.7 Dividends paid in cash or assets, IRS 29 445.1 530.8 Plus: Posttabulation amendments and revisions6 Dividends paid by Federal Reserve banks and certain federally sponsored credit agencies2. U.S. receipts of dividends from abroad, net of payments to 30 31 -68 2 1.3 -918 1.4 32 32.6 40.4 33 2.8 3.7 34 -79.2 -86.4 Less: Dividends received by U S. corporations Earnings of U.S. residents remitted by their unincorporated foreign affiliates. 35 36 74.1 6.0 93.5 7.0 Equals: Net corporate dividend payments, NIPA's 37 254.2 297.7 333.7 348.6 Federal Reserve banks 2 Federally sponsored credit aqencies y Other^ Depletion on domestic minerals Adjustment to depreciate expenditures for mining exploration, shafts and wells State and local corporate profits tax accruals Interest payments of regulated investment companies Bad debt expense Less: Tax-return measures of: Gains, net of losses, from sale of property Dividends received from domestic corporations Income on equities in foreign corporations and branches (to Costs of trading or issuing corporate securities4 Taxes paid by domestic corporations to foreign governments on income earned abroad. Plus: Income received from equities in foreign corporations and branches by all U.S. residents, net of corresponding payments. Earnings remitted to foreign residents from their unincorporated U.S. affiliates. Interest payments of regulated investment companies 1. Consists largely of an adjustment to expense all meals and entertainment, of oilwell bonus payments written off, of adjustments for insurance carriers and savings and loan associations, of amortization of intangible assets, and of tax-exempt interest income. 2. Consists of the Farm Credit System for 1947 forward and the Federal home loan banks for 1952 forward. 3. Consists of nonprofit organizations serving business and of credit unions. 4. Includes the imputed financial service charge paid by corporations to domestic securities dealers who do not charge an explicit commission. 5. Beginning with 1984, the investment tax credit is included in other tax credits (line 26). 6. Consists largely of an adjustment to remove capital gains distributions of regulated investment companies. 122 SURVEY OF CURRENT BUSINESS • April 2000 Table 8.26.—Relation of Monetary Interest Paid and Received in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) Table 8.28.—Comparison of Personal Income in the National Income and Product Accounts (NIPA's) with Adjusted Gross Income as Published by the Internal Revenue Service (IRS) [Billions of dollars] [Billions of dollars] Line 1995 1996 1997 1998 Corporations 1 744.8 770.9 Less: Interest paid by foreign branches of commercial banks Plus: Interest paid by organizations not filing corporation income tax 2 3 11.0 29.0 9.1 29.9 Federally sponsored credit agencies Other1 Interest paid by regulated investment companies reported as distributions to stockholders. Adjustment for mutual savings banks and savings and loan associations. Other2 4 5 6 17.4 11 6 79.2 17.5 124 86.4 7 3.0 2.5 8 7.6 6.1 9 852.5 886.7 Interest paid, IRS 10 52.6 59.6 70.3 Plus1 Interest reported on rental expense schedule Interest passed through to partners Interest capitalized on tax returns Less: Adjustment for misreporting on income tax returns 11 12 13 14 57.2 10.0 1.5 9.3 57.0 11.8 1.2 10.0 59.3 16.4 1.0 11.3 Equals: Monetary interest paid, NIPA's 15 112.1 119.7 135.7 Interest paid, IRS .. .. Equals: Monetary interest paid by corporations, NIPA's 982.0 1,086.6 145.8 Corporations Interest received, IRS 16 17 18 11.5 68.3 12.0 70.1 Federal Reserve banks Federally sponsored credit agencies Other3 Adjustment for mutual savings banks and savings and loan 19 20 21 22 25.4 19.8 231 5.4 25.2 20.2 24 7 6.2 Other4 23 9.4 11.5 Less: Interest received by foreign branches of commercial banks Plus: Interest received by organizations not filing corporation income Equals: Monetary interest received by corporations, NIPA's 24 Nonfarm proprietorships and partnerships 25 25.0 35.4 45.3 Equals: Monetary interest received by sole proprietorships and partnerships, NIPA's. 26 25.0 35.4 45.3 51.8 Table 8.27.—Relation of Wages and Salaries in the National Income and Product Accounts (NIPA's) to Wages and Salaries as Published by the Bureau of Labor Statistics (BLS) [Billions of dollars] Plus: Adjustment for misreporting on employment tax returns2 Adjustment for thrift savings plans 3 Adjustment for selected industries4 Other5 Equals: Wage and salary disbursements, NIPA's . Plus: Wage accruals less disbursements, NIPA's 1996 1997 1998 3,215.9 3,414.7 3,669.5 3,967.8 78.1 5.3 114.6 10.7 83.5 3.1 113.6 11.6 89.9 1.5 114.7 13.3 97.4 0 118.2 2.7 3,424.7 3,626.5 3,888.9 4,186.0 16.4 3.6 -4.1 3.5 3,441.1 3,630.1 3,884.7 4,189.5 1. Total annual wages of workers covered by State unemployment insurance (Ul) laws and by the Unemployment Compensation for Federal Employees program. Data for the most recent year are preliminary. 2. Consists of unreported wages and salaries paid by employers and of unreported tips. 3. Consists of voluntary contributions by employees. Prior to 1985, employers were not required to report these contributions. In 1985, reporting requirements were enacted by over one half of the States; by 1990, the requirement had been enacted by almost all States. 4. For the following industries, consists of the difference between estimates from more comprehensive source data (excluding the adjustments in lines 2 and 3) and BLS wages and salaries: Agriculture, forestry, and fishing; railroad transportation; health services; educational services; social services; membership organizations; private households; and the Federal Government. 5. Consists of wages and salaries for insurance agents classifed as statutory employees, for students and their spouses employed by public colleges or universities, for nonprofit organizations not participating in the Ul program (in industries not listed in footnote 4), and of other coverage adjustments. 870.1 498.2 293.0 394.9 59.8 59.9 60.0 72.9 79.9 87.4 240.6 273.2 294.8 840.7 978.0 1,151.2 268.8 167.4 292.2 79.2 33.2 280.4 249.5 311.6 89.3 47.1 298.1 338.2 341.0 100.7 73.2 4,766.4 5,151.6 5,604.0 4,189.4 4,536.0 4,973.6 577.0 615.6 630.3 12.1 12.0 11.2 87.9 88.0 315.9 1. Consists of the imputations included in personal income shown in table 8.21 except for employer contributions for health and life insurance (line 146). In table 8.28, these premiums are included in line 4. 2. Consists of income earned by low-income individuals who are not required to file income tax returns, of unreported income that is included in the NIPA measure, and of gross errors and omissions in lines 2 through 15. Also includes the net effect of errors in the IRS adjusted gross income (line 17) and NIPA personal income (line 1) measures. Such errors can arise from the sample used by IRS to estimate line 17 and from the source data used by BEAto estimate line 1. [Billions of dollars] Line 1995 1998 Table 8.29.—Capital Transfers (Net) 1. Consists of interest paid by nonprofit organizations serving business and by credit unions. 2. Consists of construction interest capitalized on tax returns, interest reported on tax returns in cost of goods sold, and interest passed through to shareholders by small business corporations. 3. Consists of nonprofit organizations serving business, of credit unions, and of other tax-exempt interest received by commercial banks and nonlife insurance carriers. 4. Consists of interest received by credit agencies and finance companies reported as business receipts on tax returns and of interest passed through to shareholders by small business corporations. Line 842.3 487.5 264.3 366.7 Equals: BEA-derived adjusted gross income 16). 1,111.1 1,157.8 1,275.9 1,387.8 806.0 494.6 242.7 358.8 Adjusted gross income, IRS AGI gap (line 18) as a percentage of BEA-derived AGI (line 16). AGI of IRS (line 17) as a percentage of BEA-derived AGI (line Interest received by financial sole proprietorships and partnerships, IRS. Total wages and salaries, BLS 1 Less: Portion of personal income not included in adjusted gross income. Nontaxable transfer payments Other labor income except fees Imputed income in personal income' Investment income of life insurance carriers and pension plans. Investment income received by nonprofit institutions or retained by fiduciaries. Differences in accounting treatment between NIPA's and tax regulations, net. Other personal income exempt or excluded from adjusted gross income. Adjusted gross income (AGI) gap 2 1,039.5 1,082.1 1995 1996 1997 6,200.9 6,547.4 6,951.1 7,358.9 2,275.3 2,373.8 2,498.4 Plus: Portion of adjusted gross income not included in personal income. Personal contributions for social insurance Gains, net of losses, from sales of property Taxable pensions Small business corporation income Other types of income Nonfarm proprietorships and partnerships Equals: Wage and salary accruals, NIPA's Line Personal income, NIPA's Capital transfers received by government (net) Federal Estate and gift taxes paid by persons Less: Capital transfers paid to the rest of the world (net)* Less: Federal investment grants to State and local governments2 Less: Investment grants to business3 State and locaj Estate and gift taxes paid by persons Federal investment grants to State and local governments2 Capital transfers received by the rest of the world (net) Capital transfers received from U.S. government (net) Less: Immigrants' transfers received by persons (net) 4 1995 1996 1997 1998 19.6 23.1 26.8 32.6 -12.8 14.9 .4 27.2 0 32.3 5.1 27.2 -10.7 17.5 0 28.1 0 33.8 5.6 28.1 -8.4 20.6 .2 28.8 0 35.3 6.5 28.8 -3.6 25.2 0 28.8 0 36.2 7.4 28.8 .3 .4 .1 -.1 -.1 0 .2 1. Consists of forgiveness of debts owed by foreign governments to the U.S. Government. 2. Consists of Federal Government investment grants for highways, transit, air transportation, and water treatment plants. 3. Consists of maritime construction subsidies paid by the Federal Government. 4. Consists of a limited measure of immigrants' transfers to the United States (transfers of funds by individuals moving across borders). April 2000 • SURVEY OF CURRENT BUSINESS 123 9. Seasonally Unadjusted Estimates. Table 9.1.—Gross Domestic Product, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted 1995 Line 1996 1998 1997 I Gross domestic product Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment and software Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment. Federal National defense Nondefense State and local Addendum: Gross national product 1,764.9 1,824.6 1,878.6 1,932.4 1,850.8 1,926.7 1,984.7 2,051.0 1,966.8 2,049.4 2,111.0 2,173.5 2,079.1 2,157.8 2,221.2 2,301.8 1,173.5 1,233.6 1,245.6 1,316.2 1,243.1 1,298.8 1,309.1 1,386.4 1,314.0 1,361.4 1,386.8 1,462.2 1,379.3 1,451.3 1,469.4 1,548.6 129.1 336.0 708.3 148.5 370.8 714.4 148.8 374.0 722.8 163.3 416.5 736.4 137.6 355.4 750.1 156.5 388.3 754.0 153.4 390.7 765.0 168.9 439.6 777.9 143.1 375.1 795.8 158.3 402.7 800.4 162.5 409.8 814.6 179.0 454.1 829.0 151.4 383.1 844.8 174.9 422.5 853.9 173.5 425.4 870.5 198.4 477.9 872.3 281.6 280.6 296.8 284.8 285.0 304.2 339.0 314.5 321.6 345.2 368.9 348.0 365.7 371.0 403.1 391.4 253.2 194.7 45.4 149.3 58.5 28.4 283.8 210.9 51.6 159.3 72.9 -0.2 286.2 205.4 54.4 151.0 80.8 10.6 287.5 214.0 53.1 160.8 73.5 -2.7 269.2 207.8 47.8 160.0 61.4 15.8 309.9 227.2 55.6 171.6 82.7 -5.7 317.6 227.7 60.2 167.4 89.9 21.4 316.0 236.8 61.3 175.5 79.2 -1.4 292.5 226.7 55.1 171.6 65.8 29.1 335.5 249.1 62.6 186.6 86.4 9.7 346.0 252.5 69.0 183.6 93.5 22.9 341.3 257.8 67.4 190.4 83.5 6.7 324.1 253.9 60.0 193.9 70.2 41.6 374.9 281.5 69.1 212.4 93.4 -3.9 376.8 272.2 71.9 200.4 104.5 26.3 384.3 283.6 71.8 211.9 100.6 7.1 -16.7 -56.5 -25.0 -16.0 -11.6 -22.1 -35.7 -19.5 -14.3 -18.8 -31.9 -23.3 -21.0 -37.5 -51.5 -39.6 195.7 141.0 54.7 212.4 179.5 32.9 201.9 146.3 55.6 228.3 191.2 37.1 207.4 143.3 64.1 232.4 192.8 212.8 153.0 59.9 224.5 189.4 35.1 216.1 154.4 61.7 238.2 199.2 39.1 214.0 147.5 230.3 164.6 65.7 244.6 206.0 38.6 242.2 174.0 68.2 261.0 217.8 43.2 75.0 276.2 229.0 47.3 251.3 181.1 70.1 274.5 232.4 42.2 241.5 172.9 68.6 262.4 220.7 41.8 241.0 170.8 70.3 278.6 231.2 47.4 234.2 159.9 74.3 285.8 235.0 50.8 249.6 177.7 66.4 249.6 207.0 42.6 231.3 163.5 67.8 250.8 212.8 38.0 244.3 169.3 39.6 213.7 153.3 60.4 229.7 194.1 35.5 326.5 336.8 361.3 347.4 334.3 345.9 372.2 369.6 345.6 361.6 387.2 386.6 355.0 373.0 400.2 401.5 124.5 83.7 40.7 202.1 124.1 84.4 39.7 131.3 91.7 39.5 216.2 123.8 83.7 40.0 210.5 124.2 84.8 39.4 212.7 141.7 90.7 51.0 219.6 221.7 142.1 90.3 51.9 230.1 141.5 98.3 43.3 228.0 122.5 80.3 42.2 223.1 127.3 83.4 43.9 234.3 142.8 89.8 52.9 244.4 145.3 99.0 46.2 241.3 120.4 78.6 41.8 234.7 126.4 81.6 44.8 246.5 143.1 90.3 52.8 257.2 148.8 98.2 50.6 252.7 1,771.0 1,830.8 1,880.5 1,938.5 1,930.9 1,986.9 2,055.0 1,969.4 2,051.6 2,110.8 2,173.2 2,081.1 2,157.5 2,214.3 2,297.3 71.9 289.1 243.6 45.6 Table 9.2.—Personal Consumption Expenditures by Major Type of Product, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted Line 1996 1995 1997 I Personal consumption expenditures Durable goods Motor vehicles and parts Furniture and household equipment Other Nondurable goods Food Clothing and shoes Gasoline, fuel oil, and other energy goods Gasoline and oil Fuel oil and coal Other Services Housing Household operation Electricity and gas Other household operation Transportation Medical care Recreation Other Addenda: Energy goods and services' Personal consumption expenditures less food and energy IV 1,173.5 1,233.6 1,245.6 1,316.2 1,243.1 1,298.8 1,309.1 1,386.4 1,314.0 1,361.4 1,386.8 1,462.2 1,379.3 1,451.3 1,469.4 1,548.6 129.1 148.5 148.8 163.3 137.6 156.5 153.4 168.9 143.1 158.3 162.5 179.0 151.4 174.9 173.5 198.4 56.6 48.4 24.1 67.4 52.9 28.2 65.4 54.9 28.6 59.9 68.9 34.5 60.2 51.5 26.0 69.5 56.6 30.5 65.9 57.3 30.1 60.7 71.5 36.7 60.8 54.3 28.0 67.9 58.8 31.5 69.7 60.8 31.9 64.6 75.6 38.8 63.1 58.6 29.6 77.1 63.3 34.5 73.8 65.4 34.2 75.2 81.3 41.9 336.0 370.8 374.0 416.5 355.4 388.3 390.7 439.6 375.1 402.7 409.8 454.1 383.1 422.5 425.4 477.9 174.7 49.0 31.3 26.6 4.7 81.0 190.6 58.4 32.4 29.7 2.7 89.3 193.6 59.9 31.7 29.4 2.4 88.7 196.8 80.4 31.9 27.7 4.3 107.4 183.6 51.9 33.4 27.7 5.8 86.5 196.9 61.3 35.6 32.8 2.8 94.5 200.0 62.1 34.4 32.0 2.4 94.2 205.5 83.3 36.2 31.6 4.6 114.6 191.6 55.1 35.7 30.3 5.4 92.6 204.8 63.0 35.0 32.0 2.9 99.9 209.0 65.6 35.2 32.7 2.5 196.0 57.6 31.9 27.2 4.7 97.5 214.4 68.4 31.8 29.2 2.6 100.0 211.5 87.4 35.5 31.2 4.4 119.6 107.8 217.9 68.7 31.3 29.1 2.3 107.5 225.1 91.6 31.2 27.5 3.7 130.0 708.3 714.4 722.8 736.4 750.1 754.0 765.0 777.9 795.8 800.4 814.6 829.0 844.8 853.9 870.5 872.3 181.6 76.9 33.8 43.1 47.6 192.2 41.6 168.4 184.2 69.6 26.1 43.5 49.0 194.0 43.4 174.2 186.8 74.7 30.4 44.3 50.3 195.8 45.5 188.2 76.9 322 44.7 50.8 198.7 45.4 176.4 189.9 84.3 38.4 45.9 51.4 199.5 46.0 179.0 192.0 74.1 27.1 47.0 53.0 202.5 47.3 185.0 194.7 77.6 30.4 47.2 54.1 204.6 49.0 185.0 195.9 81.3 32.8 48.4 55.6 207.8 48.8 188.5 198.3 86.9 37.8 49.1 57.0 201.2 76.4 26.5 49.9 58.3 206.0 86.6 34.4 52.2 59.7 209.0 89.5 36.4 53.0 60.5 211.2 51.0 202.3 215.8 52.1 194.5 220.1 53.5 212.3 212.4 81.7 27.6 54.1 61.5 223.3 54.5 220.5 216.1 89.2 33.8 55.4 61.6 209.4 49.7 204.3 82.8 31.6 51.2 59.2 213.8 52.6 201.8 226.5 56.9 220.2 218.4 86.5 30.3 56.2 61.7 224.4 56.1 225.1 65.1 933.7 58.4 984.6 62.2 64.1 1,055.3 71.8 987.8 62.7 1,039.2 64.8 1,044.4 69.1 1,111.8 73.5 1,048.8 61.4 1,095.1 70.0 1,180.7 68.3 1,114.9 59.3 1,177.5 65.1 1,186.5 61.5 1,261.9 1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas. 169.7 66.8 124 • April 2000 SURVEY OF CURRENT BUSINESS Table 9.3.—Federal Government Current Receipts and Expenditures, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted Line Current receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance 1995 1997 1996 1998 340.9 379.3 341.2 322.4 356.3 423.0 366.8 353.0 381.6 466.2 399.1 380.2 411.8 514.0 425.0 399.9 134.7 41.0 23.1 142.1 167.3 46.2 23.7 142.0 150.1 48.6 23.0 119.5 139.7 43.5 23.2 116.0 142.8 44.1 22.0 147.5 202.6 50.2 22.0 148.3 169.7 50.0 23.0 124.1 155.0 46.4 28.0 123.5 159.2 46.1 21.5 154.8 235.0 51.5 23.8 155.8 186.0 55.6 25.1 132.4 170.6 51.0 24.5 134.2 177.6 48.5 22.9 162.7 271.2 53.2 24.1 165.5 211.5 55.1 25.6 132.7 175.4 49.6 24.6 150.3 377.9 398.6 393.7 405.5 393.4 404.9 407.8 429.8 403.1 414.5 414.6 443.8 410.1 418.9 421.3 453.5 Consumption expenditures 103.5 103.4 120.3 112.0 101.8 102.4 119.5 121.5 104.1 107.4 120.8 124.7 101.3 105.9 119.7 126.5 Transfer payments (net) To persons 165.7 163.2 2.6 46.7 166.2 163.9 2.3 47.6 160.0 157.4 2.6 44.2 160.2 157.8 2.3 46.0 180.7 176.8 3.9 46.9 172.0 168.9 171.4 167.3 4.1 48.0 186.6 184.6 1.9 48.7 178.6 176.2 2.4 49.0 173.7 171.5 2.2 46.7 177.7 174.2 3.4 51.3 192.6 190.5 2.1 51.0 180.7 178.4 2.3 51.2 176.5 174.0 2.5 52.7 1807 49.5 167.5 165.0 2.5 46.0 55.1 60.9 47.6 13.3 5.8 76.4 82.2 68.1 14.1 5.8 57.8 63.1 48.3 14.9 5.3 78.2 83.3 68.2 15.1 5.1 58.2 63.5 48.4 15.2 5.3 77.7 83.2 67.4 15.8 5.5 58.6 64.5 46.8 17.7 5.9 79.1 85.0 66.0 19.0 5.9 58.1 64.0 43.7 20.3 5.9 78.5 84.4 62.4 22.0 5.9 59.7 65.2 42.4 22.9 5.5 80.0 84.9 62.1 22.9 4.9 59.4 64.1 41.4 22.7 4.7 79.1 84.1 61.1 23.0 5.0 59.9 64.5 41.7 22.8 4.6 80.0 85.1 62.4 22.7 5.0 6.8 9.0 2.2 4.9 7.1 2.2 11.5 5.8 9.2 11.0 1.8 5.8 6.7 3.3 4.9 1.6 16.1 10.1 -6.1 11.8 1.9 5.6 7.5 1.9 1.0 3.3 2.3 13.6 7.9 10.1 13.2 3.0 5.8 8.0 2.2 2.0 4.8 2.7 12.5 6.8 11.9 15.7 3.8 0 0 0 0 0 0 Current expenditures To the rest of the world (net) Grants-in-aid to State and local governments Net interest paid Interest paid To persons and business To the rest of the world Less: Interest received by government Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements -37.0 Current surplus or deficit (-), national income and product accounts. -5.7 0 -19.3 -52.6 0 -63.1 3.1 .9 0 -47.1 18.2 -41.0 -76.9 -21.5 -5.7 0 0 51.6 1.7 -15.4 95.1 -5.7 177.1 3.5 54.4 0 3.7 -53.6 Table 9.4.—State and Local Government Current Receipts and Expenditures, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted 1995 Line 1997 1996 1998 227.8 225.8 216.7 247.5 237.4 238.2 228.0 256.9 247.8 248.6 240.6 272.1 260.9 268.3 251.5 2897 44.5 7.1 126.0 3.5 46.7 50.4 8.1 116.2 3.4 45.7 8.6 114.7 3.4 45.9 7.7 144.7 3.3 48.6 7.6 131.0 3.2 54.3 8.7 122.5 3.2 48.2 8.7 121.9 3.1 48.5 8.0 149.4 3.0 58.9 8.6 129.3 2.8 52.4 9.3 129.4 2.7 52.8 8.4 156.9 2.7 56.4 8.0 142.8 2.7 69.4 8.7 136.3 2.7 47.6 44.2 46.9 49.5 46.0 48.0 53.3 7.7 135.3 2.9 48.7 49.0 46.7 51.3 51.0 51.2 55.0 9.0 132.1 2.7 52.7 56.2 8.0 168.5 2.7 54.4 223.4 226.4 227.0 225.8 228.8 236.8 235.9 237.5 240.9 243.4 246.2 251.0 251.2 255.7 259.0 2627 171.3 173.1 174.3 175.9 178.2 180.7 182.6 185.0 187.8 189.8 192.6 195.7 197.9 200.6 203.4 205.5 Transfer payments to persons 54.1 55.7 55.5 52.4 53.7 58.6 56.3 55.7 56.1 56.9 .1 16.9 16.7 0 17.0 17.0 0 17.2 17.2 .1 .2 17.4 17.3 .2 17.6 17.3 .2 17.7 17.4 .2 17.7 17.5 0 17.7 17.6 57.0 -.5 17.6 18.1 58.7 -.5 17.7 18.2 60.5 .3 16.7 16.4 58.5 -.3 17.6 18.0 58.6 Net interest paid Interest paid to persons and business Less: Interest received by government1 56.4 -1 17.7 17.8 -.5 17.7 18.2 -.5 17.7 18.2 -5.3 .1 -2.6 .1 2.7 -2.8 .1 -2.5 .1 -3.3 .1 3.4 -3.0 .1 3.1 -2.5 .1 2.6 -3.1 .1 -2.8 .1 2.9 -3.1 .1 3.2 -3.0 .1 3.1 -2.3 .1 -2.8 .1 2.6 -2.7 .1 2.8 -3.2 .1 2.9 -3.2 .1 3.3 2.5 2.9 0 0 0 0 0 0 0 0 0 0 8.6 1.4 19.4 7.0 5.1 21.0 97 12.6 Current receipts . Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Federal grants-in-aid Current expenditures Consumption expenditures Less: Dividends received by government! Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements Current surplus or deficit (-), national income and product accounts. 2.4 0 4.5 1. Prior to 1968, dividends received is included in interest received (line 12). 0 -.5 -10.3 21.8 3.3 0 -7.9 -.2 177 17.8 3.2 0 -5.6 0 0 -7.5 27.0 April 2000 • SURVEY OF CURRENT BUSINESS 125 Table 9.5.—Foreign Transactions in the National Income and Product Accounts, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted 1995 Line Receipts from the rest of the world Exports of goods and services . Goods1 Services1 Income receipts Payments to the rest of the world Imports of goods and services Goods 1 Services1 Income payments 1998 252.2 260.6 264.8 273.2 273.2 275.6 275.0 295.9 298.2 313.6 316.7 322.2 314.8 314.4 303.1 319.3 195.7 141.0 54.7 201.9 146.3 55.6 207.4 143.3 64.1 213.7 153.3 60.4 212.8 153.0 59.9 216.1 154.4 61.7 214.0 147.5 66.4 231.3 163.5 67.8 230.3 164.6 65.7 242.2 174.0 68.2 244.3 169.3 75.0 251.3 181.1 70.1 241.5 172.9 241.0 170.8 70.3 234.2 159.9 74.3 249.6 177.7 71.9 56.5 58.8 57.4 59.6 60.3 59.5 61.1 64.6 67.9 71.4 72.4 70.9 73.3 73.4 68.9 69.7 252.2 260.6 264.8 273.2 273.2 275.6 275.0 295.9 298.2 313.6 316.7 322.2 314.8 314.4 303.1 319.3 212.4 179.5 32.9 228.3 191.2 37.1 232.4 192.8 39.6 229.7 194.1 35.5 224.5 189.4 35.1 238.2 199.2 39.1 249.6 207.0 42.6 250.8 212.8 38.0 244.6 206.0 38.6 261.0 217.8 43.2 276.2 229.0 47.3 274.5 232.4 42.2 262.4 220.7 41.8 278.6 231.2 47.4 285.8 235.0 50.8 289.1 243.6 45.6 50.3 52.6 55.5 53.5 52.6 55.4 58.9 60.7 65.4 69.3 72.6 71.2 71.4 73.7 75.8 74.3 8.7 4.2 2.6 1.9 7.9 3.7 2.3 1.8 8.7 4.2 2.6 1.9 8.7 4.4 2.3 2.0 10.4 4.6 3.9 1.8 9.3 4.3 3.1 2.0 9.1 4.6 2.5 2.0 11.0 4.7 4.1 2.2 9.2 5.2 1.9 2.1 9.3 4.8 2.4 2.2 9.9 5.4 2.2 2.3 11.2 5.3 3.4 2.4 9.9 5.6 2.1 2.2 9.8 5.2 2.3 2.3 10.6 5.8 2.5 2.3 11.7 5.7 3.5 2.5 -19.3 -28.1 -31.9 -18.7 -14.2 -27.3 -42.6 -26.6 -21.0 -25.9 -42.0 -34.7 -28.9 -47.7 -69.0 -55.9 Transfer payments (net) From persons (net) From government (net) ., From business Net foreign investment 1997 1996 1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment were reclassified from goods to services. Table 9.6.—Corporate Profits With Inventory Valuation Adjustment, Not Seasonally Adjusted [Billions of dollars] Quarterly totals not seasonally adjusted 1995 Line I Corporate profits with inventory valuation adjustment. Profits before tax Profits tax liability Profits after tax Inventory valuation adjustment II III IV I II 1998 1997 1996 II I III IV 183.2 III IV 196.8 207.9 191.6 197.0 189.9 203.1 202.9 186.1 59.4 137.6 56.5 133.3 62.0 141.1 64.2 138.7 57.6 128.5 3.7 7.0 3.3 5.1 5.5 IV 202.9 216.4 200.7 1 143.0 164.5 176.3 166.5 167.8 188.2 190.9 182.5 2 153.1 171.9 177.4 166.0 169.6 188.4 188.4 180.0 182.3 202.4 214.2 3 4 48.1 105.0 54.4 117.6 57.2 120.2 51.3 114.8 51.7 117.9 58.9 129.5 58.7 129.7 54.4 125.6 53.8 128.5 60.2 142.2 64.9 149.3 5 -10.1 -7.5 -1.1 .4 -1.8 -.2 2.6 2.5 .8 .5 2.2 II 206.4 III I 126 • April 2000 SURVEY OF CURRENT BUSINESS GDP and Other Major NIPA Series, 1929-99 TABLES 1-4 PRESENT historical series from the national income and product accounts (NIPA's). Table 1 presents current-dollar gross domestic product and its components. Tables 2A and 2B present real gross domestic product and its components, in chained dollars and in index form, respectively. Table 3 presents NIPA price indexes, and table 4 presents national income and personal income. These estimates are updated quarterly and are available on the BEA Web site at <www.bea.doc.gov>; for information, call 202-606-5304. The estimates are also available on the STAT-USA Web site at <www.stat-usa.gov>; for information, call 202-482-1986. Table 1 .—Gross Domestic Product [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Personal consumption expenditures Net exports of goods and Gross private domestic investment Percent change from preceding period Government consumption can/mac Fixed investment Year and quarter Gross domestic product nvestment Nonresidential Total Durable goods Nondurable goods Services Total Total Total Structures Equipment and software Residential Change in private inventories Net Exports Imports Total Federal State and local Final sales of domestic product Gross national product Gross domestic product Final sales of domestic product 1929 103.7 77.5 9.2 37.7 30.5 16.5 14.9 11.0 5.5 5.5 4.0 1.5 0.4 5.9 5.6 9.4 1.7 7.7 102.2 104.5 1930 1931 1932 1933 1934 91,3 76.6 58.8 56.4 66.0 70.2 60.7 48.7 45.9 51.5 7.2 5.5 3.6 3.5 4.2 34.0 29.0 22.7 22.3 26.7 29.0 26.3 22.4 20.2 20.5 10.8 11.0 4.2 2.6 1.5 1.4 2.1 2.4 1.8 .8 .6 .9 -1.1 -2.4 -1.4 -.6 .3 0 0 .1 .3 4.4 2.9 2.0 2.0 2.6 4.1 2.9 1.9 1.9 2.2 10.0 7.0 3.6 3.1 4.3 4.4 2.6 1.4 1.1 1.2 -.2 5.9 1.3 1.7 3.7 8.6 5.3 2.9 2.5 3.3 10.6 1.8 1.8 1.8 2.3 3.2 8.2 8.1 7.0 6.5 7.3 91.5 77.7 61.2 57.9 66.6 92.0 77.1 59.2 56.7 66.3 -12.0 -16.1 -23.2 -4.0 16.9 -10.4 -15.1 -21.3 -5.4 15.1 1935 1936 1937 1938 1939 73.3 83.7 91.9 86.1 92.0 55.9 62.2 66.8 64.2 67.2 5.1 6.3 6.9 5.7 6.7 29.3 32.9 35.2 34.0 35.1 21.5 23.0 24.7 24.6 25.4 6.7 8.6 5.6 7.5 9.5 7.7 9.1 4.3 5.8 7.5 5.5 6.1 1.4 1.9 2.7 2.1 2.2 2.8 3.9 4.8 3.4 3.9 1.3 1.7 2.1 2.1 3.0 1.1 1.2 2.6 -.6 .2 -.2 -.2 0 .9 .8 2.8 3.0 4.0 3.8 3.9 3.0 3.2 4.0 2.8 3.1 10.9 13.1 12.8 13.8 14.7 3.3 5.5 5.0 5.6 5.9 7.6 7.6 7.8 8.2 8.9 72.2 82.6 89.2 86.6 91.8 73.7 84.0 92.3 86.5 92.5 11.0 14.2 14.4 9.7 8.1 -6.3 -2.9 6.9 6.0 1940 1941 1942 1943 1944 101.3 126.7 161.8 198.4 219.7 71.2 81.0 88.9 99.7 108.5 7.8 9.7 6.9 6.5 6.7 37.0 42.9 50.8 58.6 64.3 26.4 28.5 31.3 34.6 37.4 13.6 18.1 10.4 11.2 13.8 5.2 6.4 4.1 3.7 5.0 3.5 4.1 2.2 1.4 1.4 1.4 1.0 -.3 4.8 5.4 4.3 3.9 4.8 3.4 4.4 4.6 6.3 6.9 15.1 26.6 62.8 94.9 105.5 6.4 6.1 7.8 2.6 3.3 2.2 1.8 2.4 2.4 8.5 6.9 8.7 7.7 9.7 6.3 5.4 7.4 17.9 54.1 86.5 97.0 8.7 8.7 8.7 8.5 8.5 98.9 122.4' 159.9 199.2 220.6 101.7 127.2 162.2 198.8 220.1 10.1 25.0 27.7 22.7 10.7 23.7 30.6 24.6 10.8 1945 1946 1947 1948 1949 223.0 222.3 244.4 269.6 267.7 119.8 144.2 162.3 175.4 178.8 8.0 71.9 82.7 90.9 96.6 94.9 40.0 45.8 51.0 55.9 58.9 10.8 31.1 35.0 48.1 36.9 12.3 25.1 35.5 42.4 39.6 10.6 17.3 23.5 26.8 24.9 3.3 7.4 8.1 9.5 9.2 7.3 9.9 1.7 7.8 6.7 15.3 17.3 15.7 12.1 15.6 14.6 7.5 7.0 7.9 9.2 93.2 39.8 36.4 40.6 46.8 84.2 29.0 22.6 24.2 27.6 9.0 15.8 20.4 22.9 25.1 10.8 13.9 16.5 19.2 224.5 216.3 245.0 263.9 270.3 223.4 223.0 245.6 271.1 269.0 1950 1951 1952 1953 1954 294.3 339.5 358.6 379.9 381.1 192.7 208.6 219.7 233.4 240.5 30.7 29.9 29.3 32.7 31.9 98.2 109.2 114.7 117.8 119.7 63.7 69.6 75.6 82.9 88.9 54.1 60.2 54.0 56.4 53.8 48.3 50.3 50.5 54.5 55.8 27.8 31.8 31.9 35.1 34.7 10.0 12.0 12.2 13.6 13.9 17.8 19.9 19.7 21.5 20.8 20.5 18.4 18.6 19.4 21.1 -1.9 1955 1956 1957 1958 1959 415.2 438.0 461.5 467.9 507.4 259.0 271.9 287.0 296.6 318.1 38.8 38.1 40.0 37.4 42.7 124.7 130.8 137.1 141.7 148.5 95.4 102.9 109.9 117.4 127.0 69.0 72.0 70.5 64.5 78.5 64.0 68.1 69.7 64.9 74.6 39.0 44.5 47.5 42.5 46.5 15.2 18.2 19.0 17.6 18.1 23.9 26.3 28.6 24.9 28.4 25.0 23.6 22.2 22.3 28.1 5.0 3.9 .8 -.4 3.9 1960 1961 1962 1963 1964 527.4 545.7 586.5 618.7 664.4 332.3 342.7 363.8 383.1 411.7 43.3 41.8 46.9 51.6 56.7 152.9 156.6 162.8 168.2 178.7 136.1 144.3 154.1 163.4 176.4 78.9 78.2 88.1 93.8 102.1 75.7 75.2 82.0 88.1 97.2 49.4 48.8 53.1 56.0 63.0 19.6 19.7 20.8 21.2 23.7 29.8 29.1 32.3 34.8 39.2 26.3 26.4 29.0 32.1 34.3 3.2 3.0 6.1 5.6 4.8 1965 1966 1967 1968 1969 720.1 789.3 834.1 911.5 985.3 444.3 481.8 508.7 558.7 605.5 63.3 68.3 70.4 80.8 85.9 191.6 208.8 217.1 235.7 253.2 189.5 204.7 221.2 242.3 266.4 118.2 131.3 128.6 141.2 156.4 109.0 117.7 118.7 132.1 147.3 74.8 85.4 86.4 93.4 104.7 28.3 31.3 31.5 33.6 37.7 46.5 54.0 54.9 59.9 67.0 34.2 32.3 32.4 38.7 42.6 9.2 1970 1971 1972 1973 1974 1,039.7 1,128.6 1,240.4 1,385.5 1,501.0 648.9 702.4 770.7 852.5 932.4 85.0 96.9 110.4 123.5 122.3 272.0 285.5 308.0 343.1 384.5 292.0 320.0 352.3 385.9 425.5 152.4 178.2 207.6 244.5 249.4 150.4 169.9 198.5 228.6 235.4 109.0 114.1 128.8 153.3 169.5 40.3 42.7 47.2 55.0 61.2 68.7 71.5 81.7 98.3 108.2 41.4 55.8 69.7 75.3 66.0 1975 1976 1977 1978 1979 1,635.2 1,823.9 2,031.4 2,295.9 2,566.4 1,030.3 1,149.8 1,278.4 1,430.4 1,596.3 133.5 158.9 181.2 201.7 214.4 420.7 458.3 497.2 550.2 624.4 476.1 532.6 600.0 678.4 757.4 230.2 292.0 361.3 436.0 490.6 236.5 274.8 339.0 410.2 472.7 173.7 192.4 228.7 278.6 331.6 61.4 65.9 74.6 91.4 114.9 112.4 126.4 154.1 187.2 216.7 1980 1981 1982 1983 1984 2,795.6 3,131.3 3,259.2 3,534.9 3,932.7 1,762.9 1,944.2 2,079.3 2,286.4 2,498.4 214.2 231.3 240.2 281.2 326.9 696.1 758.9 787.6 831.2 884.7 852.7 954.0 1,051.5 1,174.0 1,286.9 477.9 570.8 516.1 564.2 735.5 484.2 541.0 531.0 570.0 670.1 360.9 418.4 425.3 417.4 490.3 133.9 164.6 175.0 152.7 176.0 227.0 253.8 250.3 264.7 314.3 12.2 7.1 9.3 • 4.3 1.9 -.7 -.9 -1.5 6.0 -.6 5.7 -2.7 5.8 9.9 3.5 1.9 13.6 -2.4 -2.2 -9 7.1 9.9 8.8 8.7 5.4 5.2 14.1 18.7 15.5 14.4 .7 2.4 1.0 -.8 .3 12.3 17.0 16.3 15.2 15.7 11.6 14.6 15.3 16.0 15.4 46.9 68.3 83.9 90.8 86.5 26.0 45.0 59.2 64.4 57.3 20.9 23.3 24.7 26.4 29.2 288.5 329.6 355.1 378.0 383.0 .4 2.3 4.0 .4 -1.7 17.6 21.2 23.9 20.4 20.6 17.2 18.9 19.9 20.0 22.3 86.8 91.8 100.1 106.5 112.5 54.9 56.7 61.3 63.9 67.4 31.9 35.1 38.8 42.6 45.1 2.4 3.4 2.4 3.3 5.5 25.3 26.0 27.4 29.4 33.6 22.8 22.7 25.0 26.1 28.1 113.8 121.5 132.2 138.5 145.1 65.9 69.5 76.9 78.5 79.8 3.9 1.9 1.4 35.4 38.9 41.4 45.3 49.3 31.5 37.1 39.9 46.6 50.5 153.7 174.3 195.3 212.8 224.6 55.8 62.3 74.2 91.2 127.5 10.8 10.1 1.8 -3.7 13.3 7.7 2.4 295.8 341.5 360.7 381.9 383.3 10.0 15.4 14.2 5.6 5.9 .3 7.7 6.4 1.3 410.2 434.0 460.7 468.3 503.5 417.8 440.8 464.7 470.7 510.3 9.0 5.5 5.4 1.4 8.4 7.1 5.8 6.2 1.6 7.5 47.9 52.0 55.3 59.9 65.3 524.1 542.7 580.4 613.1 659.6 530.6 549.3 590.7 623.2 669.4 3.9 3.5 7.5 5.5 7.4 4.1 3.5 7.0 5.6 7.6 82.1 94.4 106.8 114.0 116.1 71.6 79.9 88.6 98.8 108.5 710.9 775.7 824.2 902.4 976.2 725.5 794.5 839.5 917.6 991.5 8.4 9.6 5.7 9.3 8.1 7.8 9.1 6.3 9.5 8.2 237.1 251.0 270.1 287.9 322.4 116.4 117.6 125.6 127.8 138.2 120.7 133.5 144.4 160.1 184.2 1,037.7 1,120.3 1,231.3 1,369.7 1,487.0 1,046.1 1,136.2 1,249.1 1,398.2 1,516.7 5.5 8.6 9.9 6.3 8.0 9.9 11.7 11.2 -1.3 -1.2 2.0 8.3 9.1 -5.0 -8.0 15.9 14.0 -3.1 57.0 59.3 66.2 91.8 124.3 62.7 82.5 110.3 131.6 141.0 -6.3 17.1 22.3 25.8 18.0 13.6 -5.3 -23.7 -26.1 -24.0 136.3 148.9 158.8 186.1 228.7 122.7 151.1 182.4 212.3 252.7 361.1 384.5 415.3 455.6 503.5 152.1 160.6 176.0 191.9 211.6 209.0 223.9 239.3 263.8 291.8 1,641.4 1,806.8 2,009.1 2,270.1 2,548.4 1,648.4 1,841.0 2,052.1 2,318.0 2,599.3 123.2 122.6 105.7 152.5 179.8 -6.3 29.8 -14.9 -5.8 65.4 -14.9 -15.0 -20.5 -51.7 -102.0 278.9 302.8 282.6 277.0 303.1 293.8 317.8 303.2 328.6 405.1 569.7 631.4 684.4 735.9 800.8 245.3 281.8 312.8 344.4 376.4 324.4 349.6 371.6 391.5 424.4 2,801.9 3,101.5 3,274.1 3,540.7 3,867.3 2,830.8 3,166.1 3,295.7 3,571.8 3,968.1 .6 7.7 -.7 9.9 9.1 9.2 1.2 1.5 -.3 10.0 10.3 8.4 6.7 8.3 8.6 8.9 10.4 10.1 11.2 13.0 12.3 11.5 11.4 13.0 11.8 8.9 9.9 12.0 10.7 4.1 8.5 5.6 8.1 9.2 11.3 April 2000 • SURVEY OF CURRENT BUSINESS 127 Table 1.—Gross Domestic Product-Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Personal consumption expenditures Gross private domestic investment Net exports of goods and services Fixed investment Year and quarter Gross domestic product Nonresidential Total NonDurable durable Services goods goods Total Total Total Structures Equipment and software Residential Change in private inventories Net Exports Imports Government consumption expenditures and aross nvestmen t Total Federal State and local Percent change from preceding period Final sales of domestic product Gross national product Final Gross sales of domestic domestic product product 1985 1986 1987 1988 1989 4,213.0 4,452.9 4,742.5 5,108.3 5,489.1 2,712.6 2,895.2 3,105.3 3,356.6 3,596.7 928.8 363.3 401.3 958.5 419.7 1,015.3 450.2 1,082.9 467.8 1,165.4 1,420.6 1,535.4 1,670.3 1,823.5 1,963.5 736.3 747.2 781.5 821.1 872.9 714.5 740.7 754.3 802.7 845.2 527.6 522.5 526.7 568.4 613.4 193.3 175.8 172.1 181.6 193.4 334.3 346.8 354.7 386.8 420.0 186.9 218.1 227.6 234.2 231.8 21.8 6.6 27.1 18.5 27.7 -114.2 -131.9 -142.3 -106.3 -80.7 303.0 320.3 365.6 446.9 509.0 417.2 452.2 507.9 553.2 589.7 878.3 942.3 997.9 1,036.9 1,100.2 413.4 438.7 460.4 462.6 482.6 464.9 503.6 537.5 574.3 617.7 4,191.2 4,446.3 4,715.3 5,089.8 5,461.4 4,238.4 4,468.3 4,756.2 5,126.8 5,509.4 7.1 5.7 6.5 7.7 7.5 8.4 6.1 6.1 7.9 7.3 1990 1991 1992 1993 1994 5,803.2 5,986.2 6,318.9 6,642.3 7,054.3 3,831.5 3,971.2 4,209.7 4,454.7 4,716.4 467.6 443.0 470.8 513.4 560.8 1,246.1 1,278.8 1,322.9 1,375.2 1,438.0 2,117.8 2,249.4 2,415.9 2,566.1 2,717.6 861.7 800.2 866.6 955.1 1,097.1 847.2 800.4 851.6 934.0 1,034.6 630.3 608.9 626.1 682.2 748.6 202.5 183.4 172.2 179.4 187.5 427.8 425.4 453.9 502.8 561.1 216.8 191.5 225.5 251.8 286.0 14.5 -.2 15.0 21.1 62.6 -71.4 -20.7 -27.9 -60.5 -S7.1 557.2 601.6 636.8 658.0 725.1 628.6 622.3 664.6 718.5 812.1 1,181.4 1,235.5 1,270.5 1,293.0 1,327.9 508.4 527.4 534.5 527.3 521.1 673.0 708.1 736.0 765.7 806.8 5,788.7 5,986.4 6,303.9 6,621.2 6,991.8 5,832.2 6,010.9 6,342.3 6,666.7 7,071.1 5.7 3.2 5.6 5.1 6.2 6.0 3.4 5.3 5.0 5.6 1995 1996 1997 1998 1999 7,400.5 7,813.2 8,300.8 8,759.9 9,256.1 4,969.0 5,237.5 5,524.4 5,848.6 6,257.3 589.7 1,497.3 616.5 1,574.1 642.9 1,641.7 698.2 1,708.9 758.6 1,843.1 2,882.0 3,047.0 3,239.8 3,441.5 3,655.6 1,143.8 1,110.7 825.1 1,242.7 1,212.7 899.4 1,383.7 1,315.4 986.1 1,531.2 1,460.0 1,091.3 1,622.7 1,578.0 1,166.7 204.6 225.0 254.1 272.8 273.4 620.5 674.4 732.1 818.5 893.4 285.6 313.3 329.2 368.7 411.3 33.0 30.0 68.3 71.2 44.6 -S4.3 -89.0 -88.3 -149.6 -253.9 818.6 902.8 1,372.0 874.2 963.1 1,421.9 968.0 1,056.3 1,481.0 966.3 1,115.9 1,529.7 998.3 1,252.2 1,630.1 521.5 531.6 537.8 538.7 570.6 850.5 890.4 943.2 991.0 1,059.4 7,367.5 7,783.2 8,232.4 8,688.7 9,211.5 7,420.9 7,831.2 8,305.0 8,750.0 9,236.2 4.9 5.6 6.2 5.5 5.7 5.4 5.6 5.8 5.5 6.0 1946:1 II Ill IV .... 210 6 218.4 228.2 232.0 134 9 140.1 148.9 153.1 12.6 14.7 17.1 18.7 78.9 80.6 85.1 86.3 43.5 44.8 46.6 48.1 25.0 32.0 33.1 34.5 19.4 23.5 27.4 30.2 13 6 16.1 18.7 20.9 62 7.4 7.9 7.9 73 8.6 10.8 13.0 5.9 7.4 8.7 9.3 55 8.5 5.7 4.3 65 7.3 8.4 6.3 13.0 14.2 15.4 13.6 66 7.0 7.0 7.3 442 39.1 37.8 38.1 343 28.7 26.7 26.2 99 10.4 11.1 11.9 2050 210.0 222.5 227.7 2112 219.1 229.0 232.9 15.8 19.2 6.8 9.9 26.2 9.6 1947:1 II Ill IV .... 237.5 240.7 244.9 254.7 156.5 160.5 164.0 168.2 19.4 20.0 20.3 22.0 87.7 90.1 92.1 93.6 49.4 50.4 51.6 52.5 33.7 32.4 32.7 41.0 33.2 33.6 35.6 39.6 22.8 23.2 23.3 24.5 7.9 7.9 8.3 8.4 14.9 15.2 15.0 16.1 10.4 10.4 12.3 15.1 .5 -1.2 -2.9 1.5 10.8 11.2 11.7 9.2 18.3 19.4 19.4 17.6 7.5 8.2 7.7 8.3 36.5 36.6 36.4 36.2 23.4 23.1 22.3 21.5 13.1 13.5 14.1 14.8 237.0 241.9 247.8 253.2 238.6 241.8 246.1 256.0 9.9 5.5 7.2 17.0 17.5 8.5 10.1 9.0 1948:1 II Ill IV .... 260.8 267.7 274.3 275.6 170.9 174.7 177.6 178.4 22.0 22.5 23.7 23.4 95.1 97.0 97.0 97.3 53.8 55.2 56.9 57.8 45.0 48.1 50.3 49.1 41.3 42.2 43.1 43.1 26.2 26.0 27.0 28.1 8.8 9.3 9.9 10.1 17.3 16.7 17.1 18.0 15.2 16.3 16.1 15.0 3.6 5.9 7.2 6.0 7.2 5.2 4.9 4.4 16.9 15.2 15.4 14.6 9.6 10.0 10.5 10.1 37.7 39.8 41.5 43.6 22.4 23.7 24.6 26.0 15.3 16.1 16.9 17.6 257.1 261.9 267.1 269.6 262.2 269.3 275.8 277.1 9.9 11.1 10.1 1.9 6.3 7.6 8.2 3.7 1949:1 II Ill IV .... 270.4 266.6 268.0 265.6 177.3 178.9 178.3 180.8 22.8 24.8 25.8 26.8 96.3 95.3 93.5 94.3 58.2 58.8 59.0 59.7 40.9 34.0 37.3 35.2 40.5 39.2 38.6 39.9 26.6 25.5 24.1 23.5 9.7 9.4 8.9 8.7 16.8 16.1 15.2 14.9 14.0 13.7 14.5 16.3 .4 -6.1 -1.3 -4.7 6.4 6.2 5.1 2.9 16.0 15.6 14.0 12.0 9.6 9.4 8.9 9.1 45.7 47.4 47.3 46.7 27.5 28.5 27.6 26.8 18.2 18.9 19.7 19.9 270.0 271.7 269.3 270.3 271.8 268.0 269.4 266.8 -7.3 -5.5 2.2 -3.6 .6 2.6 -3.5 1.4 1950:1 II Ill IV .... 275.7 285.1 302.5 313.9 183.5 187.4 201.1 198.5 27.7 28.1 35.6 31.5 94.8 96.3 100.9 100.9 61.0 63.0 64.6 66.1 44.4 49.9 56.1 65.9 42.3 47.0 52.0 51.8 24.2 26.6 29.6 30.6 9.1 9.5 10.3 11.0 15.1 17.1 19.4 19.6 18.1 20.4 22.3 21.3 2.0 2.8 4.2 14.0 2.1 1.6 -.8 -.2 11.6 11.8 12.2 13.5 9.5 10.2 13.0 13.7 45.7 46.2 46.0 49.7 25.5 25.7 24.9 27.9 20.2 20.5 21.2 21.8 273.7 282.3 298.3 299.8 277.0 286.5 304.2 315.5 16.1 14.3 26.8 15.9 5.1 13.1 24.8 2.0 1951:1 II Ill IV .... 329.3 336.9 343.7 348.1 209.6 205.3 207.9 211.8 33.8 28.9 28.3 28.4 107.8 107.4 109.4 112.0 68.0 69.0 70.1 71.3 62.1 64.8 59.4 54.4 51.7 50.0 49.6 49.6 30.9 31.8 32.5 32.2 11.5 12.2 12.3 11.9 19.4 19.7 20.2 20.2 20.8 18.2 17.2 17.5 10.4 14.8 9.7 4.7 .1 1.9 3.7 4.1 15.0 17.0 18.0 18.1 14.9 15.2 14.3 14.0 57.6 64.9 72.8 77.9 35.2 41.8 49.2 53.9 22.3 23.1 23.7 23.9 318.9 322.1 334.0 343.4 330.9 338.8 345.8 350.4 21.2 9.5 8.4 5.3 28.1 4.0 15.6 11.8 1952:1 II Ill IV .... 351.5 352.4 358.8 371.8 213.2 217.4 220.0 228.2 28.9 29.1 27.6 31.7 111.4 113.7 115.9 117.9 72.9 74.5 76.5 78.5 55.2 49.9 53.9 57.2 50.5 51.4 48.3 51.9 32.4 32.9 29.8 32.5 12.0 12.1 12.2 12.6 20.4 20.8 17.7 19.9 18.0 18.5 18.5 19.4 4.7 -1.5 5.6 5.3 3.6 1.8 -.1 -1.1 18.6 16.5 15.1 15.2 15.0 14.6 15.3 16.3 79.4 83.3 85.1 87.6 55.4 58.5 60.5 62.4 24.0 24.8 24.7 25.2 346.7 353.9 353.3 366.5 353.6 354.6 360.9 373.9 3.9 1.1 7.5 15.2 3.9 8.6 -.8 15.9 1953:1 II Ill IV .... 378.9 382.5 381.7 376.6 231.8 233.6 234.4 233.9 33.3 33.1 32.7 31.8 118.1 118.1 117.6 117.5 80.4 82.4 84.2 84.7 57.9 58.2 57.4 52.3 54.0 54.6 55.1 54.3 34.3 34.8 35.9 35.4 13.1 13.5 13.7 14.0 21.3 21.3 22.1 21.4 19.7 19.8 19.2 18.9 3.9 3.6 2.3 -2.0 -.8 -1.4 -.7 -.4 15.0 15.1 15.7 15.1 15.8 16.4 16.3 15.5 90.0 92.1 90.6 90.7 63.9 66.2 64.0 63.6 26.0 25.9 26.6 27.2 375.0 378.9 379.4 378.6 380.9 384.7 383.6 378.5 7.8 3.9 -.8 -5.3 9.6 4.3 .5 -.9 1954:1 II III IV .... 376.0 376.7 381.5 390.1 236.0 238.8 241.2 245.9 31.1 31.8 31.4 33.2 118.7 118.8 119.9 121.3 86.2 88.1 89.9 91.4 51.6 51.2 54.7 57.8 53.5 54.6 56.8 58.1 34.5 34.3 35.0 34.9 13.9 13.9 13.9 13.8 20.6 20.4 21.1 21.1 19.0 20.3 21.8 23.2 -2.0 -3.4 -2.1 -.3 -.4 .2 .5 1.1 14.3 16.3 15.8 16.5 14.8 16.2 15.3 15.5 88.9 86.5 85.2 85.3 60.8 57.7 55.4 55.2 28.1 28.8 29.8 30.1 377.9 380.1 383.6 390.4 378.1 378.8 383.7 392.6 -.6 .8 5.2 9.3 -.6 2.3 3.8 7.3 1955:1 II Ill IV .... 403.1 411.4 419.9 426.4 252.1 257.1 261.3 265.3 36.5 38.8 40.5 39.4 122.3 124.0 125.0 127.5 93.3 94.3 95.8 98.4 64.2 68.1 70.0 73.9 60.4 63.5 65.7 66.6 35.4 37.9 40.4 42.5 14.3 14.7 15.4 16.2 21.1 23.1 25.0 26.3 25.0 25.6 25.2 24.2 3.8 4.6 4.3 7.2 1.0 -.3 .6 .1 17.2 16.8 18.1 18.3 16.2 17.1 17.4 18.1 85.7 86.4 88.0 87.1 54.6 54.7 55.9 54.4 31.1 31.7 32.2 32.8 399.3 406.8 415.6 419.2 405.6 413.9 422.5 429.0 14.0 8.4 8.6 6.3 9.4 7.7 9.0 3.5 1956:1 II Ill IV .... 428.8 434.7 439.7 448.6 266.9 269.6 272.8 278.2 37.7 37.8 37.6 39.4 129.1 130.0 131.3 132.7 100.1 101.8 103.8 106.0 73.0 71.4 72.5 71.2 66.6 67.8 68.9 69.0 42.8 43.9 45.4 45.9 17.4 18.0 18.6 18.7 25.4 25.9 26.8 27.2 23.7 23.9 23.5 23.0 6.4 3.6 3.6 2.2 .3 1.8 2.5 4.4 19.3 20.8 21.7 23.0 18.9 19.0 19.3 18.5 88.6 91.9 92.0 94.8 54.7 57.1 56.5 58.6 33.9 34.7 35.5 36.2 422.4 431.1 436.2 446.4 431.7 437.6 442.8 451.3 2.2 5.6 4.7 8.3 3.1 8.5 4.8 9.7 1957:1 II Ill IV .... 457.6 459.6 466.8 462.0 282.5 284.8 289.4 291.1 40.6 40.1 39.8 39.4 134.5 135.8 139.2 138.9 107.5 108.9 110.5 112.9 71.8 71.9 73.2 64.9 69.6 69.3 70.4 69.4 47.0 47.1 48.4 47.5 18.8 19.0 19.1 18.9 28.2 28.1 29.3 28.6 22.6 22.2 22.0 21.9 2.2 2.7 2.8 -4.5 4.7 4.0 3.9 3.3 24.8 24.3 23.6 22.9 20.1 20.3 19.8 19.6 98.6 98.8 100.3 102.7 61.0 60.5 61.2 62.7 37.5 38.4 39.1 40.0 455.4 456.9 464.0 466.5 460.8 463.0 470.2 464.7 8.2 1.8 6.5 -4.0 8.3 1.3 6.4 2.2 1958:1 II Ill IV .... 454.6 458.9 472.4 485.8 290.8 293.8 298.9 302.8 37.4 36.6 37.3 38.5 139.5 140.8 142.8 143.9 113.9 116.4 118.9 120.3 60.5 58.7 65.5 73.2 64.6 63.0 63.9 68.0 43.6 42.0 41.4 43.0 18.1 17.6 17.3 17.6 25.5 24.4 24.1 25.5 20.9 21.0 22.5 24.9 -4.0 -4.2 1.5 5.2 1.0 .4 .7 -.4 20.4 20.4 20.5 20.5 19.5 20.1 19.7 20.8 102.3 106.0 107.3 110.2 61.3 64.0 64.2 66.1 41.0 42.0 43.2 44.1 458.6 463.1 470.9 480.6 457.4 461.7 475.1 488.5 -6.2 3.8 12.3 11.8 -6.6 4.0 6.9 8.5 1959:1 II Ill IV .... 496.1 509.2 510.2 514.2 310.4 316.5 321.7 323.9 41.5 43.2 44.1 41.8 146.1 147.7 149.3 150.9 122.9 125.6 128.4 131.2 76.2 82.2 76.5 79.3 72.3 74.9 76.1 75.2 44.5 46.1 47.8 47.7 17.4 18.0 18.6 18.5 27.1 28.1 29.2 29.2 27.8 28.8 28.3 27.5 3.9 7.3 .4 4.1 -1.7 -5.5 -1.1 -1.4 19.7 20.0 21.8 21.1 21.4 22.5 22.9 22.5 111.3 113.1 113.1 112.4 66.4 67.9 67.9 67.4 44.9 45.1 45.2 45.0 492.3 502.0 509.8 510.1 498.8 512.0 513.1 517.3 8.8 11.0 .8 3.2 10.1 8.1 6.4 .2 1960:1 II Ill IV .... 527.9 527.1 529.9 524.6 327.4 333.3 333.3 335.2 43.2 44.1 43.6 42.4 150.8 153.6 153.0 153.9 133.4 135.6 136.6 138.9 89.1 79.7 78.7 68.1 77.9 76.4 74.4 73.9 49.5 50.3 49.0 48.6 19.4 19.5 19.4 20.0 30.2 30.8 29.6 28.6 28.4 26.1 25.3 25.3 11.2 3.2 4.3 -5.8 .9 1.7 3.0 4.0 24.2 25.2 25.9 25.8 23.3 23.5 22.9 21.7 110.5 112.4 115.0 117.3 64.2 64.8 66.5 68.0 46.3 47.6 48.5 49.2 516.7 523.8 525.6 530.4 530.9 530.2 533.2 528.1 11.1 -.6 2.2 -3.9 5.3 5.7 1.4 3.7 1961:I II Ill IV .... 528.9 539.9 550.3 563.4 335.7 340.6 343.5 350.8 39.9 40.9 42.1 44.2 155.2 156.0 156.5 158.6 140.6 143.7 144.9 148.0 70.3 75.8 82.3 84.2 72.9 74.0 75.7 78.2 47.5 48.5 48.7 50.4 19.9 19.6 19.7 19.6 27.6 28.8 29.1 30.8 25.3 25.5 26.9 27.8 -2.5 1.8 6.7 6.0 4.4 3.3 2.8 2.9 26.1 25.2 26.1 26.8 21.7 21.9 23.3 23.9 118.5 120.3 121.7 125.5 67.4 69.1 69.7 71.7 51.1 51.2 52.0 53.9 531.5 538.1 543.7 557.5 532.6 543.4 553.9 567.1 3.3 8.6 7.9 9.9 .8 5.1 4.2 10.5 128 • April 2000 SURVEY OF CURRENT BUSINESS Table 1.—Gross Domestic Product—Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Personal consumption expenditures Gross private domestic investment Net exports of goods and services Fixed investment Year and quarter Gross domestic product Nonresidential Total Durable goods Nondurable goods Services Total Total Total Structures Equipment and software Residential Change in private inventories Net Exports Imports Government consumption expenditures and nross nvestmen Total Federal State and local Percent change from preceding period Final sales of domestic product Gross national product 567.4 578.4 584.8 591.0 Gross domestic product Final sales of domestic product 580.5 588.0 595.2 599.2 9.8 5.0 5.0 2.3 7.3 8.0 4.5 4.3 1962:1 II Ill IV .... 576.8 583.9 591.0 594.4 356.0 361.6 365.6 371.8 45.2 46.4 46.9 48.9 160.6 161.9 163.4 165.3 150.2 153.3 155.2 157.6 89.4 87.9 89.3 86.0 80.0 82.4 83.1 82.6 51.6 53.2 53.9 53.5 20.0 20.8 21.4 20.9 31.6 32.4 32.5 32.6 28.4 29.2 29.2 29.1 9.4 5.4 6.2 3.4 2.3 3.2 2.9 1.5 26.6 28.1 28.0 27.0 24.3 24.9 25.1 25.6 129.2 131.2 133.3 135.1 75.0 76.4 78.5 54.2 54.8 55.6 56.6 1963:1 II Ill IV ..„ 603.4 612.1 624.9 634.3 375.4 379.5 386.5 391.1 50.0 51.3 52.0 53.1 166.3 167.0 169.4 169.9 159.1 161.3 165.0 168.1 90.5 92.2 95.0 97.4 83.6 87.3 89.3 92.3 53.4 55.1 56.8 58.7 20.2 21.2 21.4 21.9 33.2 33.9 35.4 36.8 30.2 32.2 32.5 33.7 6.9 4.8 5.7 5.1 2.0 3.7 3.1 4.4 27.2 29.6 29.8 31.1 25.2 25.9 26.7 26.8 135.5 136.7 140.3 141.4 77.4 77.7 79.6 79.4 58.1 59.0 60.7 62.0 596.6 607.3 619.1 629.3 608.0 616.5 629.4 639.0 6.2 5.9 8.6 6.2 3.8 7.4 8.0 6.7 1964:1 II Ill IV .... 650.4 659.6 671.2 676.3 400.7 408.6 417.5 420.1 55.2 56.6 58.4 56.4 174.1 177.3 181.0 182.3 171.4 174.7 178.1 181.5 100.7 100.6 102.5 104.5 95.6 96.1 97.8 99.5 60.1 62.0 64.1 65.7 22.4 23.4 24.3 24.8 37.7 38.5 39.8 40.9 35.4 34.2 33.7 33.8 5.1 4.5 4.7 5.0 5.9 4.9 5.4 5.7 32.9 32.6 33.9 35.0 27.0 27.7 28.4 29.3 143.1 145.5 145.8 146.0 79.9 80.5 79.8 79.0 63.2 65.0 66.0 67.0 645.3 655.2 666.5 671.3 655.5 664.6 676.3 681.1 10.5 10.6 5.8 7.2 3.1 6.3 7.1 2.9 1965:1 II Ill IV .... 696.5 709.0 726.2 748.7 430.9 437.9 447.2 461.3 61.9 61.7 63.6 65.9 185.0 188.7 192.6 200.0 184.0 187.5 191.0 195.4 115.7 115.8 119.6 121.8 104.1 107.3 110.4 114.2 70.2 73.1 76.1 79.7 26.1 28.2 28.5 30.4 44.1 44.9 47.5 49.3 33.9 34.2 34.3 34.5 11.5 3.0 4.7 3.7 4.1 31.5 36.3 35.7 38.0 28.5 31.7 32.0 33.9 146.9 150.6 155.7 161.6 78.6 80.2 82.7 86.9 68.3 70.4 73.0 74.7 684.9 700.5 716.9 741.2 702.0 714.8 731.6 753.6 12.5 8.6 9.3 7.6 8.4 9.4 9.7 1966:1 II Ill IV .... 772.3 781.5 794.8 808.6 471.8 477.0 486.2 492.0 68.9 66.3 68.8 69.1 204.3 208.0 211.0 211.7 198.6 202.8 206.3 211.2 131.8 130.7 130.2 132.6 117.9 118.4 118.3 116.1 83.1 85.2 86.4 86.9 31.1 31.2 31.9 31.2 52.0 54.0 54.5 55.7 34.8 33.2 31.9 29.2 13.9 12.3 11.9 16.5 3.2 2.0 .8 1.5 38.2 38.2 39.0 40.4 35.0 36.2 38.2 38.8 165.5 171.8 177.7 182.4 88.8 93.2 97.0 98.7 76.7 78.6 80.6 83.7 758.4 769.2 782.9 792.1 777.4 786.7 799.9 813.9 13.2 4.9 7.0 7.1 9.6 5.8 7.4 4.7 1967:1 II Ill IV .... 819.3 823.9 838.7 854.4 496.3 505.5 512.7 520.3 67.6 71.0 71.1 72.0 213.9 215.6 218.0 220.9 214.9 218.8 223.6 227.4 129.3 123.7 128.5 132.9 113.8 117.4 119.3 124.5 85.5 85.7 85.9 88.4 31.7 30.9 31.5 32.0 53.8 54.8 54.4 56.5 28.3 31.6 33.4 36.0 15.4 6.3 9.3 8.4 2.3 2.1 1.1 .2 41.7 41.1 40.7 41.9 39.4 39.0 39.5 41.7 191.4 192.7 196.3 201.0 105.3 105.2 107.3 109.4 86.1 87.5 89.0 91.6 803.9 817.6 829.4 846.0 824.6 829.1 844.4 860.0 5.4 2.3 7.3 7.7 6.1 7.0 5.9 8.2 1968:1 II Ill IV .... 881.4 905.7 920.9 937.8 538.1 551.9 568.0 576.9 77.1 79.1 83.3 83.6 228.1 233.3 239.4 242.0 232.9 239.6 245.3 251.3 137.2 143.4 139.7 144.4 128.8 129.3 132.0 138.4 91.9 91.2 93.1 97.5 33.1 33.2 33.2 34.8 58.8 58.0 59.9 62.7 36.9 38.2 38.9 40.9 8.4 -1.2 -.6 43.2 44.8 47.0 46.2 44.4 45.4 48.2 48.2 207.4 211.0 214.4 218.5 112.6 113.3 114.4 115.8 94.7 97.7 100.0 102.7 873.0 891.7 913.2 931.8 887.3 911.8 927.2 944.1 13.3 11.5 13.4 14.1 6.9 7.5 10.0 1969:1 II Ill IV .... 961.9 977.0 997.2 1,005.3 588.9 600.2 610.5 622.5 85.5 85.9 86.1 86.2 246.4 251.1 255.2 259.9 257.0 263.2 269.2 276.3 155.7 155.7 160.3 154.1 144.2 146.4 150.2 148.3 101.0 103.0 106.9 107.6 35.8 36.7 38.9 39.4 65.2 66.4 68.0 68.3 43.8 52.7 52.4 53.1 219.1 222.9 227.6 228.7 114.3 115.2 117.8 117.1 104.8 107.7 109.8 111.6 950.4 967.8 987.0 999.5 968.2 983.2 1,003.1 1,011.3 10.7 6.5 8.5 3.3 8.2 7.5 8.2 5.2 1970:1 II Ill IV .... 1,018.2 1,034.4 1,051.9 1,054.2 633.7 643.8 655.8 662.5 84.9 86.0 86.9 82.1 266.2 269.8 273.7 278.4 282.7 287.9 295.2 302.0 150.6 153.9 156.0 148.9 148.8 148.8 151.0 152.9 108.1 109.4 110.6 107.9 39.5 40.3 40.6 40.8 1971:1 II Ill IV .... 1,099.9 1,120.6 1,140.8 1,153.1 681.7 695.7 708.0 724.3 92.7 95.5 97.8 101.5 280.3 284.1 286.7 291.0 308.7 316.1 323.5 331.8 171.3 178.9 183.4 179.1 159.1 168.0 173.2 179.4 110.5 113.4 114.8 117.9 1972:1 II Ill IV .... 1,192.5 1,227.5 1,252.0 1,289.7 741.7 759.9 778.2 803.1 104.9 108.1 111.4 117.0 295.9 304.3 311.5 320.5 340.9 347.5 355.3 365.6 193.1 206.5 212.4 218.5 189.9 194.5 198.7 211.0 1973:1 II Ill IV .... 1,338.4 1,374.4 1,394.1 1,435.3 827.9 843.1 861.9 877.2 125.2 124.1 123.8 121.1 330.4 337.0 347.6 357.4 372.3 381.9 390.5 398.7 232.6 246.1 241.8 257.6 1974:1 II Ill IV .... 1,450.0 1,487.6 1,514.8 1,551.6 895.4 923.6 951.4 959.2 118.9 123.0 128.8 118.6 369.1 380.4 391.7 396.8 407.3 420.2 430.9 443.7 1975:1 II Ill IV .... 1,567.2 1,603.1 1,659.9 1,710.5 984.4 1,013.7 1,047.2 1,076.0 123.2 128.3 138.0 144.4 404.5 415.6 427.8 435.1 1976: I II Ill IV .... 1,770.3 1,803:1 1,837.0 1,885.3 1,111.1 1,131.1 1,160.8 1,196.1 154.1 156.3 159.6 165.3 1977:1 II Ill IV .... 1,939.1 2,006.6 2,067.5 2,112.4 1,231.6 1,260.3 1,291.9 1,329.9 1978:1 II Ill IV .... 2,150.4 2,276.6 2,338.5 2,418.0 1979:1 ii ....;. Ill IV .... 111 7.4 10.1 13.0 14.2 8.8 7.7 6.0 -1.3 -1.9 43.2 43.4 43.2 40.7 11.5 -1.9 -1.8 -1.3 5.8 .1 41.9 50.9 51.0 53.2 68.6 69.1 70.0 67.2 40.7 39.4 40.4 45.0 1.8 5.1 5.1 1.1 2.4 .9 .4 54.7 57.6 57.3 58.3 53.5 55.2 56.4 57.9 232.7 234.2 239.2 242.4 117.5 115.9 115.9 116.3 115.2 118.4 123.2 126.1 1,016.3 1,029.3 1,046.9 1,058.2 1,024.5 1,041.0 1,058.5 1,060.3 5.2 6.5 7.0 .9 6.9 5.2 7.0 4.4 41.5 42.3 43.1 43.8 69.0 71.1 71.7 74.1 48.6 54.6 58.3 61.5 .8 59.5 59.5 62.4 56.0 58.7 63.3 65.5 61.9 246.1 249.8 252.5 255.7 116.6 117.3 118.0 118.3 129.4 132.5 134.5 137.4 1,087.6 1,109.7 1,130.6 1,153.4 1,107.4 1,128.6 1,148.1 1,160.9 18.5 11.6 -3.8 -3.1 -6.0 7.7 7.4 4.4 8.4 7.7 8.3 123.3 126.3 129.1 136.7 45.8 46.6 47.3 49.0 77.5 79.7 81.8 87.7 66.6 68.2 69.6 74.3 63.5 63.1 66.2 72.1 72.2 71.4 74.1 79.2 266.3 269.5 269.4 275.1 125.7 127.6 124.0 125.3 140.6 141.9 145.4 149.9 1,189.2 1,215.5 1,238.3 1,282.2 1,200.8 1,235.8 1,261.0 1,298.8 14.4 12.3 13.0 7.5 -8.6 -8.3 -7.9 -7.1 222.0 227.8 232.0 232.6 144.2 152.1 157.0 159.8 51.3 54.1 56.8 57.7 92.8 98.0 100.1 102.1 77.9 75.8 75.0 10.6 18.2 -4.4 -1.1 9.8 111 25.0 3.2 4.7 81.0 88.3 94.3 103.4 85.4 89.5 91.1 98.7 282.4 286.4 287.2 295.7 128.2 128.8 125.5 128.9 154.2 157.6 161.7 166.8 1,327.8 1,356.2 1,384.3 1,410.3 1,349.2 1,386.1 1,408.0 1,449.7 244.1 252.3 245.5 255.9 231.5 234.9 239.9 235.4 162.6 167.4 172.5 175.4 59.0 61.3 61.4 63.2 103.6 106.0 111.1 112.2 69.0 67.5 67.4 60.0 12.5 17.4 -5.6 -9.1 -2.2 114.6 123.8 124.5 134.4 110.3 129.4 133.6 136.6 306.2 317.4 327.0 338.8 132.5 135.6 139.2 145.5 173.7 181.8 187.9 193.2 1,437.4 1,470.2 1,509.3 1,531.2 1,467.2 1,504.2 1,530.3 1,565.2 456.7 469.8 481.5 496.5 218.7 216.8 237.7 247.7 228.7 230.7 239.1 247.3 171.1 170.8 174.5 178.6 61.7 60.4 61.3 62.0 109.4 110.4 113.2 116.6 57.7 59.9 64.6 68.7 -10.0 -14.0 -1.4 .3 13.1 16.6 11.6 12.9 138.0 131.8 133.7 141.7 124.9 115.2 122.1 128.7 350.9 356.1 363.3 373.9 148.1 150.6 152.4 157.2 202.8 205.5 210.9 216.7 1,577.2 1,617.1 1,661.3 1,710.2 1,578.8 1,615.0 1,673.1 1,726.7 445.4 452.7 462.6 472.6 511.5 522.1 538.6 558.2 274.8 291.5 296.6 305.0 260.1 269.1 275.8 294.5 183.9 188.4 195.1 202.0 64.1 65.1 66.7 67.8 119.8 123.4 128.5 134.1 76.2 80.7 80.6 92.5 14.7 22.5 20.8 10.5 4.2 -1.1 -5.0 -7.2 143.1 146.0 150.9 155.4 138.9 147.1 155.8 162.7 380.3 381.5 384.6 391.5 157.1 158.6 160.9 165.6 223.2 222.9 223.7 225.9 1,755.6 1,780.7 1,816.2 1,874.8 1,786.3 1,820.0 1,854.4 1,903.5 173.7 178.8 183.2 189.2 483.9 492.2 498.7 513.8 574.1 589.3 610.0 626.9 326.7 355.1 378.2 385.4 311.9 335.6 347.3 361.3 214.3 224.0 232.3 244.3 69.7 73.6 76.4 78.5 144.6 150.3 155.9 165.8 97.6 111.7 115.0 116.9 14.8 19.5 30.9 24.1 -21.6 -21.7 -21.1 -30.3 154.8 161.3 161.8 157.1 176.4 183.0 182.9 187.4 402.4 413.0 418.5 427.4 170.3 175.4 177.1 181.4 232.1 237.6 241.4 246.0 1,924.3 1,987.2 2,036.6 2,088.2 1,960.2 2,027.8 2,088.7 2,131.5 1,359.8 1,419.0 1,452.1 1,490.6 187.0 204.7 205.0 210.2 524.4 542.9 558.5 575.2 648.5 671.4 688.6 705.2 396.2 429.3 448.8 469.7 370.8 405.0 423.9 441.2 249.7 274.5 288.1 302.1 79.2 88.6 95.8 102.0 170.5 185.9 192.3 200.2 121.1 130.5 135.8 139.1 25.5 24.3 25.0 28.5 -39.3 -23.3 -24.6 -17.3 164.0 185.6 190.5 204.5 203.3 208.8 215.1 221.8 433.7 451.6 462.1 475.0 184.0 190.0 193.4 200.0 249.7 261.6 268.7 275.0 2,125.0 2,252.4 2,313.5 2,389.5 2,172.9 2,295.8 2,360.0 2,443.3 2,470.9 2,529.3 2,601.5 2,663.8 1,531.5 1,566.9 1,620.1 1,666.5 211.5 210.3 218.9 216.9 593.9 610.5 635.8 657.6 726.2 746.0 765.5 792.0 478.5 490.9 495.9 497.3 454.6 463.5 483.8 488.7 316.0 322.6 340.3 347.5 104.8 110.0 119.1 125.7 211.3 212.7 221.1 221.8 138.6 140.9 143.5 141.2 23.9 27.4 12.1 8.6 -19.2 -23.4 -24.4 -29.0 210.7 219.7 232.9 251.5 229.8 243.1 257.3 280.5 480.1 494.9 509.9 529.0 203.0 208.7 212.7 222.2 277.1 286.3 297.2 306.8 2,447.1 2,501.9 2,589.4 2,655.3 2,497.5 2,559.8 2,638.6 2,701.3 1980:1 II Ill IV .... 2,732.9 2,736.9 2,793.6 2,918.8 1,716.0 1,719.3 1,777.1 1,839.2 220.0 199.8 213.1 223.8 679.7 686.6 699.5 718.5 816.3 832.9 864.5 897.0 504.3 468.2 441.7 497.2 494.4 460.5 475.5 506.4 359.8 349.3 359.6 375.0 130.3 129.8 133.6 141.9 229.5 219.5 226.0 233.2 134.5 111.2 115.9 131.3 9.9 7.8 -37.2 -16.7 -33.9 -9.1 3.3 -8.9 267.1 275.9 282.5 290.3 304.3 292.6 279.2 299.2 549.8 566.2 571.6 591.3 232.8 244.4 245.5 258.4 317.0 321.8 326.0 332.9 2,723.0 2,729.2 2,827.5 2,927.9 2,771.7 2,773.7 2,829.2 2,948.7 1981:1 II Ill IV .... 3,052.6 3,086.2 3,183.5 3,203.1 1,893.1 1,926.7 1,970.5 1,986.4 233.5 228.3 239.2 224.3 745.8 756.2 763.2 770.2 913.8 942.2 968.1 991.8 562.4 549.4 590.7 580.7 523.7 537.7 546.8 555.9 391.7 408.9 426.6 446.3 147.5 158.3 166.8 185.7 244.2 250.6 259.8 260.6 132.0 128.9 120.2 109.6 38.8 11.7 44.0 24.8 -17.0 -16.4 -10.2 -16.3 302.8 305.5 299.7 303.2 319.7 322.0 309.9 319.4 614.1 626.5 632.5 652.3 268.2 280.5 283.3 295.3 345.9 346.0 349.3 357.1 3,013.8 3,074.5 3,139.5 3,178.3 3,086.0 3,118.3 3,217.9 3,242.0 9.2 10.2 -4.0 12.3 10.9 10.2 -.3 3.2 12.0 13.7 5.6 20.4 4.3 8.4 8.2 9.1 7.7 12.6 15.0 16.0 11.2 15.0 5.8 12.4 8.8 8.6 7.7 10.8 7.9 9.4 7.5 11.1 4.2 10.1 5.9 4.1 9.5 14.9 12.8 12.6 10.5 11.4 12.3 14.7 11.1 7.6 7.7 5.8 8.2 10.9 13.5 11.9 14.7 12.7 11.0 13.7 10.3 10.5 9.0 7.4 7.2 25.6 11.3 14.3 26.2 11.3 13.8 9.0 9.8 10.0 11.9 9.9 14.7 10.6 10.8 10.6 .6 8.5 9.3 .9 19.2 15.2 15.0 19.6 12.3 4.5 8.3 8.7 5.0 13.2 2.5 April 2000 • SURVEY OF CURRENT BUSINESS 129 Table 1.—Gross Domestic Product—Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Personal consumption expenditures Gross private domestic investment Net exports of goods and services Fixed investment Year and quarter Gross domestic product Nonresidential Total Durable goods Nondurable goods Services Total Total Total Structures Equipment and software Residential Change in private inventories Net Exports Imports Government consumption expenditures and gross investment Total Federal State and local Percent change from pr per od Final sales of domestic product Gross national product Gross domestic product Final sales of domestic product 1982:1 II Ill IV .... 3,193.8 3,248.9 3,278.6 3,315.6 2,023.0 2,048.8 2,093.7 2,151.7 234.0 236.6 239.1 251.2 776.2 778.6 793.0 802.7 1,012.8 1,033.6 1,061.6 1,097.8 525.2 529.2 526.3 483.5 546.7 533.4 520.5 523.3 441.9 430.6 418.2 410.5 183.8 179.6 170.4 166.2 258.1 251.0 247.8 244.3 104.8 102.8 102.3 112.8 -21.5 ^.2 5.8 -39.8 -17.2 -5.0 -30.3 -29.7 292.3 294.2 279.0 265.1 309.5 299.1 309.3 294.9 662.7 675.8 688.9 710.1 300.6 307.0 314.7 328.9 362.1 368.8 374.2 381.3 3,215.2 3,253.0 3,272.8 3,355.4 3,230.2 3,289.8 3,313.3 3,349.2 -1.2 7.1 3.7 4.6 4.7 4.8 2.5 10.5 1983:1 II Ill IV .... 3,378.5 3,489.6 3,582.9 3,688.8 2,188.4 2,260.0 2,319.4 2,377.9 255.7 276.0 288.3 304.9 806.2 824.0 842.4 852.1 1,126.4 1,160.0 1,188.8 1,220.9 495.7 543.7 578.0 639.5 530.8 551.4 582.2 615.6 399.9 403.2 419.6 447.0 156.7 147.8 151.0 155.5 243.2 255.3 268.6 291.6 130.9 148.2 162.6 168.5 -35.1 -7.7 -4.2 23.9 -24.6 -45.5 -65.2 -71.3 270.6 272.5 278.2 286.7 295.3 318.0 343.4 358.0 719.1 731.3 750.7 742.7 334.2 343.4 355.8 344.4 384.9 387.9 394.9 398.3 3,413.6 3,497.2 3,587.1 3,664.8 3,412.5 3,526.2 3,620.5 3,728.0 7.8 13.8 11.1 12.4 7.1 10.2 10.7 9.0 1984:1 II Ill IV .... 3,813.4 3,909.4 3,974.7 4,033.5 2,427.1 2,481.4 2,517.1 2,568.0 316.7 326.1 326.7 338.0 866.4 883.8 889.7 898.7 1,244.1 1,271.4 1,300.7 1,331.4 709.3 736.0 753.2 743.6 636.3 666.6 681.9 695.7 460.7 485.2 501.1 514.3 164.5 174.4 181.0 184.2 296.2 310.8 320.1 330.2 175.6 181.4 180.8 181.3 73.0 69.3 71.3 48.0 -94.3 -103.5 -103.1 -107.1 293.7 303.0 306.5 309.2 388.0 406.5 409.6 416.4 771.2 795.5 807.5 829.0 361.5 376.2 377.2 390.6 409.8 419.3 430.2 438.4 3,740.4 3,840.0 3,903.4 3,985.5 3,849.6 3,945.9 4,011.0 4,065.8 14.2 10.5 6.9 6.0 8.5 11.1 6.8 8.7 1985:1 II Ill IV .... 4,109.7 4,170.1 4,252.9 4,319.3 2,632.9 2,682.1 2,749.8 2,785.6 351.8 356.6 379.1 365.6 910.5 924.2 932.8 947.5 1,370.6 1,401.3 1,437.9 1,472.5 721.1 734.2 727.7 762.3 704.9 712.6 711.4 729.2 521.5 529.8 523.8 535.3 193.5 194.1 191.0 194.6 328.0 335.7 332.8 340.7 183.4 182.8 187.7 193.9 16.2 21.7 16.3 33.1 -91.4 -114.7 -117.2 -133.6 305.9 303.9 297.0 305.3 397.3 418.6 414.2 438.9 847.1 868.4 892.5 905.1 399.3 408.2 421.0 425.1 447.9 460.2 471.5 480.0 4,093.5 4,148.5 4,236.6 4,286.2 4,135.4 4,197.8 4,275.5 4,344.8 7.8 6.0 8.2 6.4 11.3 5.5 8.8 4.8 1986:1 II Ill IV .... 4,375.3 4,415.2 4,483.4 4,537.5 2,825.1 2,857.0 2,928.6 2,970.0 372.7 387.3 424.7 420.5 957.3 950.6 956.9 969.1 1,495.1 1,519.1 1,547.0 1,580.4 764.0 754.2 733.6 737.1 733.6 738.5 740.6 749.8 529.1 520.2 516.6 524.3 190.9 173.9 168.3 170.1 338.2 346.3 348.3 354.2 204.5 218.3 224.1 225.6 30.3 15.7 -7.0 -12.7 -127.1 -129.2 -138.5 -132.8 312.0 314.2 320.1 334.9 439.0 443.4 458.6 467.7 913.2 933.2 959.7 963.2 421.8 434.8 452.0 446.1 491.4 498.4 507.7 517.1 4,344.9 4,399.6 4,490.4 4,550.3 4,397.0 4,429.6 4,499.7 4,547.1 5.3 3.7 6.3 4.9 5.6 5.1 8.5 5.4 1987:1 II Ill IV .... 4,612.3 4,695.8 4,770.2 4,891.6 3,011.4 3,081.5 3,145.5 3,182.9 397.3 417.2 437.8 426.5 994.4 1,011.9 1,022.0 1,033.1 1,619.7 1,652.5 1,685.7 1,723.3 762.6 766.4 765.3 831.6 734.6 749.9 764.3 768.5 509.3 520.7 536.9 540.1 165.4 167.3 175.3 180.3 343.9 353.3 361.6 359.8 225.3 229.2 227.4 228.4 28.0 16.5 1.0 63.1 -139.4 -144.7 -142.8 -142.2 337.5 356.8 373.7 394.5 476.8 501.5 516.5 536.7 977.6 992.6 1,002.2 1,019.3 452.1 459.7 461.5 468.5 525.5 532.9 540.7 550.8 4,584.3 4,679.3 4,769.2 4,828.5 4,623.5 4,710.3 4,784.0 4,906.8 6.8 7.4 6.5 10.6 3.0 8.5 7.9 5.1 1988:1 II Ill ..... IV .... 4,957.0 5,066.5 5,151.5 5,258.3 3,259.8 3,319.5 3,387.0 3,460.1 446.5 448.5 445.3 460.5 1,049.4 1,070.3 1,095.2 1,116.5 1,763.8 1,800.7 1,846.5 1,883.0 797.7 819.2 825.7 842.0 780.7 799.5 807.5 822.9 551.1 566.3 571.8 584.5 177.5 182.8 182.3 184.0 373.6 383.5 389.5 400.5 229.6 233.3 235.7 238.4 17.0 19.7 18.2 19.1 -121.0 -103.4 -96.3 -104.4 421.0 441.9 455.8 469.0 542.0 545.3 552.1 573.5 1,020.5 1,031.2 1,035.1 1,060.7 461.2 460.0 457.2 472.2 559.3 571.2 578.0 588.5 4,940.0 5,046.9 5,133.3 5,239.2 4,977.8 5,085.1 5,167.5 5,276.6 5.5 9.1 6.9 8.6 9.6 8.9 7.0 8.5 1989:1 II Ill IV .... 5,379.0 5,461.7 5,527.5 5,588.0 3,511.8 3,572.9 3,626.9 3,675.1 460.5 467.5 478.7 464.3 1,134.3 1,161.3 1,174.0 1,191.9 1,917.0 1,944.1 1,974.2 2,018.8 881.2 875.4 868.3 866.7 833.0 839.4 858.4 850.1 596.0 607.1 628.1 622.3 189.0 189.0 197.6 197.9 406.9 418.1 430.6 424.4 237.0 232.3 230.2 227.8 48.2 36.0 10.0 16.6 -84.2 -61.4 -79.6 -77.6 492.0 512.5 509.4 522.0 576.2 594.0 589.0 599.6 1,070.3 1,094.8 1,111.9 1,123.9 470.4 482.6 490.0 487.2 599.8 612.2 621.9 636.8 5,330.8 5,425.6 5,517.5 5,571.4 5,397.2 5,479.1 5,547.5 5,614.1 9.5 6.3 4.9 4.5 7.2 7.3 6.9 4.0 1990:1 II Ill IV .... 5,720.8 5,800.0 5,844.9 5,847.3 3,754.8 3,806.2 3,871.6 3,893.4 486.4 469.2 463.7 451.0 1,221.7 1,233.2 1,258.5 1,270.9 2,046.7 2,103.8 2,149.3 2,171.6 881.6 883.0 869.4 812.8 867.7 849.3 847.6 824.2 633.6 625.1 635.4 627.2 203.7 204.2 205.2 197.0 429.9 420.9 430.2 430.2 234.1 224.2 212.1 196.9 13.9 33.7 21.9 -11.3 -74.2 -60.7 -78.8 -72.1 541.6 554.6 555.3 577.1 615.8 615.3 634.1 649.2 1,158.5 1,171.4 1,182.7 1,213.1 502.0 506.9 505.8 519.1 656.5 664.6 676.9 694.0 5,706.8 5,766.3 5,823.1 5,858.6 5,745.5 5,825.8 5,866.1 5,891.5 9.8 5.7 3.1 .2 10.1 4.2 4.0 2.5 1991:1 II Ill IV .... 5,886.3 5,962.0 6,015.9 6,080.7 3,904.6 3,958.6 3,998.2 4,023.6 439.4 441.4 448.9 442.5 1,267.8 1,281.0 1,284.9 1,281.5 2,197.4 2,236.2 2,264.4 2,299.5 786.5 780.5 801.5 832.1 801.8 798.3 800.5 801.1 616.8 611.7 605.9 601.1 194.5 189.7 177.6 .172.0 422.3 421.9 428.4 429.1 185.0 186.6 194.5 200.0 -15.3 -17.7 1.0 31.1 -33.4 -12.6 -22.3 -14.5 577.1 602.5 602.3 624.5 610.5 615.1 624.5 639.0 1,228.6 1,235.5 1,238.4 1,239.5 530.3 532.2 526.9 520.1 698.3 703.3 711.5 719.4 5,901.6 5,979.7 6,014.8 6,049.6 5,919.1 5,983.6 6,034.0 6,106.8 2.7 5.2 3.7 4.4 3.0 5.4 2.4 2.3 1992:1 II Ill IV .... 6,183.6 6,276.6 6,345.8 6,469.8 4,123.1 4,171.5 4,225.7 4,318.3 459.0 463.3 474.2 486.6 1,305.2 1,309.2 1,326.0 1,351.4 2,358.9 2,399.1 2,425.4 2,480.3 810.9 867.2 878.7 909.8 811.8 845.4 859.6 889.6 600.1 621.5 633.0 649.9 170.2 170.7 172.6 175.4 429.8 450.7 460.4 474.5 211.8 223.9 226.6 239.7 -1.0 21.8 19.1 20.2 -7.7 -27.1 -36.4 -40.1 629.5 633.4 637.2 647.0 637.3 660.5 673.6 687.1 1,257.3 1,265.1 1,277.8 1,281.8 527.1 530.5 540.6 539.9 730.2 734.5 737.2 741.9 6,184.5 6,254.8 6,326.7 6,449.6 6,208.6 6,301.1 6,367.3 6,492.4 6.9 6.2 4.5 8.0 9.2 4.6 4.7 8.0 1993:1 II Ill IV .... 6,521.6 6,596.7 6,655.5 6,795.5 4,350.6 4,421.3 4,488.2 4,558.7 487.6 507.5 520.8 537.9 1,355.7 1,370.4 1,379.6 1,395.0 2,507.3 2,543.4 2,587.8 2,625.8 938.0 943.6 943.0 995.8 901.9 919.3 936.1 978.8 659.3 675.2 683.2 711.4 176.7 177.5 179.2 184.2 482.6 497.7 503.9 527.3 242.7 244.1 252.9 267.3 36.1 24.3 7.0 17.0 ^6.5 -57.3 -72.0 -66.2 646.4 660.6 646.4 678.8 692.9 717.9 718.3 744.9 1,279.5 1,289.1 1,296.2 1,307.1 528.9 525.3 526.9 528.0 750.5 763.9 769.3 779.1 6,485.5 6,572.4 6,648.5 6,778.5 6,552.0 6,620.6 6,685.1 6,809.1 3.2 4.7 3.6 8.7 2.2 5.5 4.7 8.1 1994:1 II Ill IV .... 6,887.8 7,015.7 7,096.0 7,217.7 4,613.8 4,677.5 4,753.0 4,821.3 546.2 553.6 563.2 580.0 1,409.7 1,425.1 1,449.9 1,467.2 2,657.9 2,698.8 2,739.8 2,774.0 1,042.0 1,106.4 1,094.0 1,146.1 998.1 1,026.6 1,042.0 1,071.6 721.7 738.2 752.7 781.8 178.0 188.2 189.9 193.9 543.7 550.0 562.8 587.9 276.4 288.4 289.3 289.8 43.8 79.8 52.0 74.6 -71.3 -84.2 -99.1 -93.8 683.8 714.5 736.1 765.8 755.1 798.7 835.2 859.6 1,303.3 1,316.1 1,348.1 1,344.0 515.8 515.9 532.5 520.0 787.5 800.2 815.6 824.0 6,844.0 6,936.0 7,044.0 7,143.1 6,908.5 7,032.4 7,111.1 7,232.6 5.5 7.6 4.7 7.0 3.9 5.5 6.4 5.8 1995:1 II III'""! IV .... 7,297.5 7,342.6 7,432.8 7,529.3 4,868.6 4,943.7 5,005.2 5,058.4 578.2 584.4 596.2 600.0 1,475.8 1,492.2 1,502.6 1,518.5 2,814.7 2,867.1 2,906.3 2,939.9 1,162.8 1,133.1 1,123.5 1,155.6 1,100.1 1,097.2 1,110.1 1,135.4 812.5 820.3 825.2 842.3 200.5 204.8 206.2 207.0 612.0 615.5 619.0 635.3 287.6 276.9 284.9 293.1 62.7 35.8 13.4 20.2 -94.5 -109.0 -74.2 -59.3 787.7 802.5 834.1 850.0 882.2 911.5 908.3 909.3 1,360.6 1,374.9 1,378.3 1,374.5 523.4 525.5 525.0 512.3 837.1 849.4 853.3 862.2 7,234.8 7,306.8 7,419.4 7,509.1 7,318.9 7,367.9 7,444.1 7,552.7 4.5 2.5 5.0 5.3 5.2 4.0 6.3 4.9 1996:1 II Ill IV .... 7,629.6 7,782.7 7,859.0 7,981.4 5,130.5 5,218.0 5,263.7 5,337.9 606.4 621.3 616.7 621.5 1,539.6 1,569.4 1,578.8 1,608.4 2,984.4 3,027.4 3,068.2 3,107.9 1,172.4 1,231.5 1,282.6 1,284.3 1,165.6 1,201.7 1,232.6 1,250.9 865.1 885.4 913.6 933.7 213.4 220.0 226.3 240.3 651.7 665.4 687.3 693.4 300.5 316.3 319.0 317.2 6.8 29.8 50.0 33.5 -75.8 -89.8 -110.6 -79.7 853.3 864.7 865.6 913.1 929.1 954.5 976.1 992.8 1,402.6 1,423.0 1,423.4 1,438.9 530.6 537.2 529.1 529.4 872.0 885.7 894.3 909.4 7,622.8 7,752.9 7,809.0 7,947.9 7,656.5 7,800.3 7,870.5 7,997.7 5.4 8.3 4.0 6.4 6.2 7.0 2.9 7.3 1997:1 II Ill IV .... 8,125.9 8,259.5 8,364.5 8,453.0 5,430.8 5,466.3 5,569.1 5,631.3 636.1 627.8 651.9 655.8 1,630.5 1,627.1 1,652.3 1,657.1 3,164.2 3,211.4 3,265.0 3,318.5 1,327.0 1,392.2 1,395.9 1,419.6 1,274.1 1,299.6 1,338.3 1,349.4 952.7 972.7 1,007.7 1,011.4 247.6 247.8 257.8 263.1 705.2 724.9 749.9 748.3 321.4 326.8 330.7 338.0 52.9 92.6 57.6 70.2 -87.7 -77.5 -90.6 -97.4 929.6 965.3 988.6 988.6 1,017.3 1,042.8 1,079.2 1,086.0 1,455.8 1,478.6 1,490.1 1,499.5 530.2 543.0 540.9 537.1 925.6 935.6 949.2 962.3 8,073.0 8,166.9 8,306.9 8,382.8 8,131.1 8,269.1 8,366.5 8,453.3 7.4 6.7 5.2 4.3 6.4 4.7 7.0 3.7 1998:1 II Ill IV .... 8,610.6 8,683.7 8,797.9 8,947.6 5,714.7 5,816.2 5,889.6 5,973.7 679.2 693.9 696.9 722.8 1,674.6 1,701.2 1,716.6 1,742.9 3,360.9 3,421.1 3,476.1 3,508.0 1,514.3 1,495.0 1,535.3 1,580.3 1,415.4 1,454.2 1,461.7 1,508.9 1,065.9 1,090.8 1,087.2 1,121.4 267.4 274.0 271.7 278.0 798.4 816.8 815.4 843.4 349.5 363.4 374.5 387.5 98.9 40.8 73.7 71.4 -117.4 -153.9 -165.7 -161.2 974 3 1,091.7 960.1 1,114.0 949.1 1,114.8 981.8 1,143.1 1499 0 1,526.5 1,538.7 1,554.8 526.1 542.2 539.7 546.7 972.9 984.2 999.0 1,008.1 8,511.7 8,642.9 8,724.2 8,876.2 8,613.7 8,683.7 8,772.2 8,930.5 7.7 3.4 5.4 7.0 6.3 6.3 3.8 7.2 1999:1 II Ill IV .... 9,072.7 6,090.8 9,146.2 6,200.8 9,297.8 6,303.7 9,507.9 6,434.1 739.0 751.6 761.8 782.1 1,787.8 1,824.8 1,853.9 1,905.8 3,564.0 3,624.3 3,688.0 3,746.2 1,594.3 1,585.4 1,635.0 1,675.8 1,543.3 1,567.8 1,594.2 1,606.8 1,139.9 1,155.4 1,181.6 1,190.0 274.7 272.5 272.1 274.1 865.2 882.9 909.5 916.0 403.4 412.4 412.7 416.7 51.0 17.6 40.8 69.1 -201.6 -245.8 -278.2 -290.1 1,589.1 1,605.9 1,637.2 1,688.0 557.4 561.6 569.8 593.6 1,031.8 1,044.3 1,067.4 1,094.4 9,021.6 9,128.6 9,257.0 9,438.8 9,058.2 9,131.9 9,282.3 9,472.3 5.7 3.3 6.8 9.4 6.7 4.8 5.7 8.1 966.9 978.2 1,008.5 1,039.5 1,168.5 1,224.0 1,286.6 1,329.6 130 • April 2000 SURVEY OF CURRENT BUSINESS Table 2A.—Real Gross Domestic Product [Billions of chained (1996) dollars; quarterly estimates are seasonally adjusted at annual rates] Year and quarter GDP Personal /vtno imnfinn ujiisunipiiun expenditures Gross private domestic investment Exports and imports of goods and services Exports Percent change from preceding period Government 1 Finsil QSIOQ tn Final QfllpQ D 'A 1 tieSIQUal Imports riiicii ocuco OI UOillcSllo product purchases Filial oalvd LU UUIIItJblll/ purchasers GNP GDP Final caloc rindl aalco of domestic product domestic purchases rliicU bdlcb iU domestic purchasers GNP 1929 822.2 625.7 93.6 35.8 46.3 110.1 3.3 830.9 838.3 847.4 828.9 1930 1931 1932 1933 1934 751.5 703.6 611.8 603.3 668.3 592.3 574.3 523.0 511.0 546.9 62.5 39.2 11.8 17.5 31.6 29.6 24.6 19.3 19.4 21.5 40.3 35.1 29.2 30.4 31.0 121.3 126.6 122.4 118.0 133.0 -13.9 -26.0 -35.5 -32.2 -33.7 774.2 729.5 646.5 626.2 685.2 768.5 721.1 628.4 620.3 685.2 792.0 747.9 664.3 644.0 702.7 757.9 708.8 616.1 606.8 671.4 -8.6 -6.4 -13.0 -1.4 10.8 -6.8 -5.8 -11.4 -3.1 9.4 -8.3 -6.2 -12.9 -1.3 10.5 1935 1936 1937 1938 1939 728.3 822.5 865.8 835.6 903.5 580.6 639.6 663.5 652.6 689.0 58.4 74.9 93.6 61.9 79.6 22.7 23.9 30.1 29.8 31.4 40.7 40.2 45.2 35.2 36.9 137.0 158.9 153.2 164.6 179.7 -29.7 -34.6 -29.4 -38.1 -39.3 728.4 823.8 859.3 846.7 909.7 752.7 848.0 888.6 849.6 918.8 753.0 849.5 882.2 861.1 925.2 731.9 825.5 869.9 840.0 908.0 9.0 6.3 9.8 7.1 9.0 12.9 13.1 12.7 12.8 12.8 5.3 4.3 4.8 3.8 5.4 -3.5 -1.5 -4.4 -2.4 -3.4 8.1 7.4 8.1 7.4 8.1 1940 1941 1942 1943 1944 980.7 1,148.8 1,360.0 1,583.7 1,714.1 724.9 776.7 758.3 779.1 801.7 110.9 135.4 71.6 42.3 52.2 35.7 36.7 24.1 20.1 21.6 37.8 46.5 42.2 53.2 55.7 182.4 303.0 711.1 1,059.9 1,195.6 -05.4 -56.5 -162.9 -264.5 -301.3 969.4 1,125.7 1,359.5 1,604.8 1,737.3 993.2 1,172.5 1,404.2 1,651.6 1,786.0 981.7 1,148.9 1,404.2 1,674.0 1,810.6 984.5 1,153.8 1,364.8 1,588.2 1,718.8 8.2 8.3 8.1 8.2 8.2 1945 1946 1947 1948 1949 1,693.3 1,505.5 1,495.1 1,560.0 1,550.9 851.8 956.9 976.4 998.1 1,025.3 69.0 175.0 168.6 215.3 164.3 30.5 66.5 75.9 59.8 59.2 59.2 49.1 46.6 54.4 52.5 1,041.0 359.7 307.1 328.9 367.3 -239.8 ^3.5 13.7 12.3 -12.7 1,721.4 1,483.3 1,517.0 1,544.8 1,580.5 1,752.4 1,492.8 1,465.4 1,565.0 1,554.6 1,782.0 1,469.8 1,487.4 1,549.5 1,584.8 1,697.1 1,511.0 1,502.7 1,569.0 1,559.1 -1.2 -11.1 -.9 -13.8 -1.6 -17.5 -1.3 -11.0 -.7 4.3 -.6 2.3 1.8 2.3 -1.9 -14.8 -1.8 1.2 4.2 2.3 -.5 4.4 -.6 1950 1951 1952 1953 1954 1,686.6 1,815.1 1,887.3 1,973.9 1,960.5 1,090.9 1,107.1 1,142.4 1,197.2 1,221.9 232.5 233.2 211.1 221.0 210.8 51.8 63.5 60.6 56.5 59.3 62.0 64.5 70.1 76.7 72.9 367.4 500.0 605.1 647.5 602.9 6.0 -24.2 -61.8 -71.6 -61.5 1,672.4 1,789.2 1,887.0 1,979.7 1,984.3 1,713.7 1,830.5 1,915.0 2,016.5 1,994.8 1,699.4 1,804.2 1,914.9 2,022.7 2,019.3 1,695.6 1,826.3 1,899.2 1,985.1 1,972.5 8.7 7.6 4.0 4.6 -.7 5.8 7.0 5.5 4.9 .2 -1.1 7.2 6.2 6.1 5.6 -.2 8.8 7.7 4.0 4.5 -.6 1955 1956 1957 1958 1959 2,099.5 2,141.1 2,183.9 2,162.8 2,319.0 1,310.4 1,348.8 1,381.8 1,393.0 1,470.7 262.1 258.6 247.4 226.5 272.9 65.6 76.5 83.1 71.8 72.4 81.7 88.4 92.1 96.4 106.6 580.4 580.8 606.7 626.2 661.4 -37.3 -05.2 ^3.0 -58.3 -51.8 2,093.9 2,141.9 2,196.5 2,179.3 2,317.4 2,137.3 2,171.7 2,210.1 2,208.5 2,377.2 2,131.8 2,172.7 2,223.2 2,225.7 2,376.0 2,113.0 2,156.0 2,199.6 2,176.3 2,332.8 7.1 2.0 2.0 7.1 1.6 1.8 -.1 7.6 5.6 1.9 2.3 .1 6.8 7.1 2.0 2.0 7.2 5.5 2.3 2.6 -.8 6.3 1960 1961 1962 1963 1964 2,376.7 2,432.0 2,578.9 2,690.4 2,846.5 1,510.8 1,541.2 1,617.3 1,684.0 1,784.8 272.8 271.0 305.3 325.7 352.6 87.5 88.9 93.7 100.7 114.2 108.0 107.3 119.5 122.7 129.2 661.3 693.2 735.0 752.4 767.1 -47.7 -55.0 -52.9 -49.7 -43.0 2,378.5 2,435.5 2,569.5 2,683.6 2,844.1 2,417.5 2,471.5 2,626.9 2,734.7 2,883.0 2,419.7 2,475.2 2,617.6 2,728.1 2,880.8 2,391.9 2,448.8 2,598.0 2,710.8 2,868.5 2.5 2.3 6.0 4.3 5.8 2.6 2.4 5.5 4.4 6.0 1.7 2.2 6.3 4.1 5.4 1.8 2.3 5.8 4.2 5.6 2.5 2.4 6.1 4.3 5.8 1965 1966 1967 1968 1969 3,028.5 3,227.5 3,308.3 3,466.1 3,571.4 1,897.6 2,006.1 2,066.2 2,184.2 2,264.8 402.0 437.3 417.2 441.3 466.9 116.5 124.3 127.0 136,3 143.7 142.9 164.2 176.2 202.4 213.9 791.1 862.1 927.1 956.6 952.5 -35.8 -38.1 -53.0 -49.9 -42.6 3,008.5 3,191.1 3,288.2 3,450.0 3,555.9 3,079.1 3,292.3 3,382.6 3,555.9 3,664.5 3,059.0 3,255.6 3,362.5 3,540.2 3,649.3 3,051.7 3,248.9 3,330.4 3,489.8 3,594.1 6.4 6.6 2.5 4.8 3.0 5.8 6.1 3.0 4.9 3.1 6.8 6.9 2.7 5.1 3.1 6.2 6.4 3.3 5.3 3.1 6.4 6.5 2.5 4.8 3.0 1970 1971 1972 1973 1974 3,578.0 3,697.7 3,898.4 4,123.4 4,099.0 2,317.5 2,405.2 2,550.5 2,675.9 2,653.7 436.2 485.8 543.0 606.5 561.7 159.3 160.4 173.5 211.4 231.6 223.1 235.0 261.3 273.4 267.2 931.1 913.8 914.9 908.3 924.8 -43.0 -32.5 -22.2 -5.3 -5.6 3,588.6 3,688.1 3,887.7 4,094.3 4,080.7 3,659.6 3,791.1 4,003.8 4,196.6 4,136.5 3,671.1 3,782.0 3,993.5 4,167.4 4,118.2 3,600.6 3,722.9 3,925.7 4,161.0 4,142.3 .2 3.3 5.4 5.8 -.6 .9 2.8 5.4 5.3 -.3 -.1 3.6 5.6 4.8 .6 3.0 5.6 4.4 -1.4 -1.2 .2 3.4 5.4 6.0 -.4 1975 1976 1977 1978 1979 4,084.4 4,311.7 4,511.8 4,760.6 4,912.1 2,710.9 2,868.9 2,992.1 3,124.7 3,203.2 462.2 555.5 639.4 713.0 735.4 230.0 243.6 249.7 275.9 302.4 237.5 284.0 315.0 342.3 347.9 942.5 943.3 952.7 982.2 1,001.1 -23.7 -15.6 -7.1 4,118.5 4,288.8 4,478.8 4,722.9 4,894.4 4,085.2 4,354.2 4,586.4 4,834.8 4,956.3 4,119.6 4,331.1 4,553.3 4,797.0 4,938.4 4,117.7 4,351.4 4,556.6 4,805.3 4,973.9 -.4 5.6 4.6 5.5 3.2 .9 4.1 4.4 5.5 3.6 -1.2 5.3 5.4 2.5 0 5.1 5.1 5.4 2.9 -.6 5.7 4.7 5.5 3.5 1980 1981 1982 1983 1984 4,900.9 5,021.0 4,919.3 5,132.3 5,505.2 3,193.0 3,236.0 3,275.5 3,454.3 3,640.6 655.3 715.6 615.2 673.7 871.5 334.8 338.6 314.6 306.9 332.6 324.8 333.4 329.2 370.7 461.0 1,020.9 1,030.0 1,046.0 1,081.0 1,118.4 21.7 34.2 -2.8 -12.9 4,863.8 4,990.0 4,916.6 5,194.1 5,646.6 4,890.3 4,958.6 4,951.7 5,215.9 5,569.5 4,962.3 5,075.4 4,973.6 5,184.9 5,553.8 -.2 2.5 -1.0 2.6 4.3 7.3 .7 1.2 _7 4^0 5.3 -1.9 -2.0 3.1 4,928.1 4,989.5 4,954.9 5,154.5 5,427.9 1.4 -.1 5.3 6.8 1985 1986 1987 1988 1989 5,717.1 5,912.4 6,113.3 6,368.4 6,591.8 3,820.9 3,981.2 4,113.4 4,279.5 4,393.7 863.4 857.7 879.3 902.8 936.5 341.6 366.8 408.0 473.5 529.4 490.7 531.9 564.2 585.6 608.8 1,190.5 1,255.2 1,292.5 1,307.5 1,343.5 -8.6 -16.6 -15.7 -9.3 -2.5 5,698.8 5,912.6 6,088.8 6,352.6 6,565.4 5,883.1 6,096.2 6,286.2 6,489.5 6,674.6 5,865.0 6,096.6 6,261.9 6,474.0 6,648.3 5,750.9 5,932.5 6,130.8 6,391.1 6,615.5 3.8 3.4 3.4 4.2 3.5 5.0 3.8 3.0 4.3 3.3 4.2 3.6 3.1 3.2 7.1 17.9 -6.5 -5.6 -11.2 -4.0 9.1 -8.6 -6.5 -13.1 -1.5 10.6 8.5 6.6 8.1 6.1 8.4 17.1 18.4 16.5 16.1 20.8 18.0 18.1 19.8 17.6 17.0 22.2 19.2 17.2 18.3 16.4 -1.0 6.8 -.7 10.2 6.8 4.6 5.3 6.6 -1.5 5.6 8.7 2.9 5.3 3.9 2.7 3.4 2.7 See footnotes and note at the end of the table. NOTE: Chained (1996) dollars (and chain-type quantity indexes) provide the best available measures of how a particular series changes over time. However, users of this table are cautioned that comparisons across chained (1996) dollar components of GDP may be misleading, particularly for periods before 1987, when the residual is sometimes quite large. For example, during the years of World War II, the residual column in this table, which is the difference between GDP and the sum of the most detailed component series in this table, is very large. During these years, because of spending associated with World War II, the share of GDP accounted for by government consumption expenditures and gross investment doubled before returning to a more normal share; in addition, the prices paid for goods and services throughout the economy were tightly controlled and very different from postwar levels. The large residuals illustrate the problems with calculating contributions to GDP or other aggregates from the chained (1996) dollar values. Accurate estimates can be made of the contributions of components to the percent change in GDP; these estimates are provided in NIPA table 8.2. Contributions to percent change in major components of real GDP are shown in tables 8.3 through 8.6. Additional historical data may be found on BEA's Web site at <www.bea.doc.gov>. For a more detailed discussion of the use of chained dollars, including a method for closely approximating contributions to changes in real GDP for longer periods, see "BEA'S Chain Indexes, Time Series, and Measures of Long-Term Economic Growth" in the May 1997 SURVEY OF CURRENT BUSINESS. Additional versions of NIPA table 1.2 that use alternative reference years are available on BEA's Web site. Tables 1.2A, 1.2B, 1.2C, and 1.2D will be based on chained 1937,1952, 1972, and 1982 dollars, respectively. -1.1 7.2 -.2 2.3 -2.0 4.2 7.1 3.5 3.2 3.3 4.2 3.5 SURVEY OF CURRENT BUSINESS April 2000 • 131 Table 2A.—Real Gross Domestic Product—Continued [Billions of chained (1996) dollars; quarterly estimates are seasonally adjusted at annual rates] Year and quarter GDP Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services Exports Percent change from preceding period Government1 Residual Imports Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers GNP GDP Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers GNP 1990 1991 1992 1993 1994 6,707.9 6,676.4 6,880.0 7,062.6 7,347.7 4,474.5 4,466.6 4,594.5 4,748.9 4,928.1 907.3 829.5 899.8 977.9 1,107.0 575.7 613.2 651.0 672.7 732.8 632.2 629.0 670.8 731.8 819.4 1,387.3 1,403.4 1,410.0 1,398.8 1,400.1 -4.7 -7.3 -4.5 -3.9 -.9 6,695.6 6,681.5 6,867.7 7,043.8 7,285.8 6,764.9 6,688.4 6,896.4 7,120.6 7,434.2 6,752.6 6,693.5 6,884.1 7,101.8 7,372.2 6,740.0 6,703.4 6,905.8 7,087.8 7,364.3 1.8 -.5 3.0 2.7 4.0 2.0 -.2 2.8 2.6 3.4 1.4 -1.1 3.1 3.3 4.4 1.6 -.9 2.8 3.2 3.8 1.9 -.5 3.0 2.6 3.9 1995 1996 1997 1998 1999 7,543.8 7,813.2 8,144.8 8,495.7 8,848.2 5,075.6 5,237.5 5,417.3 5,681.8 5,983.6 1,140.6 1,242.7 1,385.8 1,547.4 1,637.7 808.2 874.2 983.1 1,004.6 1,042.3 886.6 963.1 1,095.2 1,222.2 1,365.4 1,406.4 1,421.9 1,453.7 1,478.8 1,534.1 -.4 0 .1 5.3 15.9 7,512.2 7,783.2 8,075.5 8,420.8 8,800.5 7,621.8 7,902.1 8,255.9 8,704.8 9,151.2 7,590.3 7,872.1 8,186.6 8,629.8 9,103.6 7,564.0 7,831.2 8,150.9 8,487.8 8,830.8 2.7 3.6 4.2 4.3 4.2 3.1 3.6 3.8 4.3 4.5 2.5 3.7 4.5 5.4 5.1 3.0 3.7 4.0 5.4 5.5 2.7 3.5 4.1 4.1 4.0 1947:1 II Ill IV .... 1,481.7 1,489.4 1,493.1 1,516.4 963.4 978.7 981.7 981.8 165.0 159.4 158.6 191.5 80.7 79.8 75.9 67.3 48.1 49.0 43.5 45.8 306.0 307.7 309.7 305.1 14.7 12.8 10.7 16.5 1,504.4 1,513.4 1,525.0 1,525.2 1,445.9 1,456.0 1,459.8 1,499.7 1,468.6 1,480.0 1,492.2 1,508.5 1,488.9 1,496.9 1,500.5 1,524.3 2.1 1.0 6.4 2.4 3.1 0 2.8 1.0 11.4 3.1 3.3 4.5 2.2 1.0 6.5 1948:1 II Ill IV .... 1,537.9 1,562.0 1,568.4 1,571.4 986.7 997.8 999.7 1,008.0 209.8 220.4 221.1 210.1 64.2 58.1 59.5 57.4 51.7 53.7 56.5 55.6 311.2 325.9 332.0 346.5 17.7 13.5 12.6 5.0 1,531.9 1,542.5 1,545.4 1,559.5 1,532.9 1,569.1 1,576.6 1,581.6 1,526.5 1,549.1 1,552.9 1,569.5 1,546.6 1,571.1 1,577.6 1,580.5 5.8 6.4 1.7 .8 1.8 2.8 .7 3.7 9.1 9.8 1.9 1.3 4.8 6.1 1.0 4.3 6.0 6.5 1.7 .7 1949:1 II Ill IV .... 1,549.4 1,545.1 1,562.6 1,546.5 1,009.0 1,024.6 1,026.7 1,041.1 178.3 153.9 167.4 157.6 64.2 63.7 58.4 50.6 53.8 53.1 51.0 51.9 355.3 371.5 375.3 367.1 -3.6 -15.5 -14.2 -18.0 1,564.3 1,584.7 1,584.0 1,588.9 1,547.4 1,543.1 1,566.1 1,561.7 1,562.5 1,583.4 1,588.0 1,605.1 1,558.2 1,553.6 1,570.7 1,553.9 -5.5 -1.1 4.6 -4.0 1.2 5.3 -.2 1.2 -8.4 -1.1 6.1 -1.1 -1.8 5.4 1.2 4.4 -5.5 -1.2 4.5 -^.2 1950:1 II Ill IV .... 1,610.5 1,658.8 1,723.0 1,753.9 1,058.9 1,075.9 1,131.0 1,097.6 198.1 220.4 239.7 271.8 49.7 50.3 51.6 55.7 53.1 56.1 69.3 69.5 361.0 366.4 359.6 382.5 -4.1 1.9 10.4 15.8 1,615.2 1,657.6 1,717.3 1,699.3 1,629.4 1,681.1 1,759.0 1,785.0 1,634.4 1,680.0 1,753.5 1,729.7 1,618.4 1,667.2 1,733.1 1,763.9 17.6 12.5 16.4 7.4 6.8 10.9 15.2 -4.1 18.5 13.3 19.9 6.0 7.5 11.6 18.7 -5.3 17.7 12.6 16.8 7.3 1951:1 II Ill IV .... 1,773.5 1,803.7 1,839.8 1,843.3 1,122.8 1,091.4 1,103.9 1,110.5 242.9 249.2 230.1 210.6 58.6 64.3 65.9 65.3 69.5 67.1 61.4 59.7 421.9 480.1 534.2 563.7 -0.2 -14.2 -32.9 -47.1 1,746.9 1,755.7 1,813.6 1,840.7 1,801.3 1,821.1 1,848.5 1,850.9 1,774.5 1,772.5 1,821.8 1,848.3 1,782.9 1,814.9 1,851.6 1,855.8 4.5 7.0 8.2 .8 11.7 2.0 13.8 6.1 3.7 4.5 6.1 .5 10.8 -.4 11.6 6.0 4.4 7.4 8.3 .9 1952:1 II Ill IV .... 1,864.7 1,866.2 1,878.0 1,940.2 1,113.6 1,135.1 1,140.4 1,180.5 215.6 197.7 207.8 223.3 68.5 61.0 56.2 56.6 66.8 66.5 70.5 76.7 584.8 604.4 610.5 620.8 -51.0 -65.5 -66.4 -64.3 1,858.7 1,888.4 1,869.6 1,931.2 1,876.6 1,888.7 1,912.4 1,982.3 1,870.5 1,911.4 1,904.1 1,973.5 1,876.7 1,878.2 1,889.9 1,951.9 4.7 .3 2.6 13.9 4.0 6.6 -3.9 13.9 5.7 2.6 5.1 15.4 4.9 9.0 -1.5 15.4 4.6 .3 2.5 13.8 1953:1 II Ill IV .... 1,976.0 1,992.2 1,979.5 1,947.8 1,194.9 1,202.5 1,199.8 1,191.8 227.5 228.5 222.8 205.0 55.6 56.0 58.3 56.3 75.0 78.8 78.5 74.6 641.2 655.9 647.6 645.4 -68.2 -71.9 -70.5 -76.1 1,972.8 1,989.1 1,984.1 1,972.8 2,018.2 2,038.2 2,021.7 1,987.9 2,015.1 2,035.4 2,026.7 2,013.6 1,987.4 2,004.3 1,990.2 1,958.6 7.6 3.3 -2.5 -6.3 8.9 3.3 -1.0 -2.3 7.5 4.0 -3.2 -6.5 8.7 4.1 -1.7 -2.6 7.5 3.4 -2.8 -6.2 1954:1 II Ill IV .... 1,938.1 1,941.0 1,962.0 2,000.9 1,196.2 1,211.3 1,227.3 1,252.6 203.4 203.0 213.3 223.3 53.8 61.6 59.5 62.3 70.2 76.5 72.1 72.9 627.1 606.1 591.2 587.4 -72.2 -64.5 -57.2 -51.8 1,960.9 1,968.9 1,987.6 2,020.0 1,976.6 1,975.9 1,995.1 2,031.7 2,000.0 2,004.5 2,021.4 2,051.3 1,949.7 1,952.6 1,973.7 2,014.1 -2.0 .6 4.4 8.2 -2.4 1.6 3.8 6.7 -2.2 -.2 3.9 7.6 -2.7 .9 3.4 6.1 -1.8 .6 4.4 8.4 1955:1 II Ill IV .... 2,058.1 2,091.0 2,118.9 2,130.1 1,280.1 1,304.3 1,320.3 1,336.7 247.2 262.8 266.4 272.0 64.6 63.1 67.2 67.5 76.8 81.3 82.8 85.9 586.4 579.9 584.0 571.3 -43.4 -07.8 -36.2 -31.5 2,058.1 2,084.0 2,114.6 2,118.8 2,091.1 2,131.6 2,156.0 2,170.3 2,091.4 2,124.8 2,151.9 2,159.1 2,071.6 2,104.3 2,132.4 2,143.9 11.9 6.5 5.5 2.1 7.8 5.1 6.0 .8 12.2 8.0 4.7 2.7 8.0 6.6 5.2 1.3 11.9 6.5 5.5 2.2 1956:1 II Ill IV .... 2,121.0 2,137.7 2,135.3 2,170.4 1,339.2 1,343.7 1,346.8 1,365.3 262.9 260.0 257.1 254.4 70.7 75.5 78.1 81.6 89.1 88.8 89.6 85.8 570.9 582.6 577.3 592.5 -33.6 -35.3 -34.4 -37.6 2,114.6 2,138.0 2,139.1 2,175.9 2,160.0 2,170.1 2,165.0 2,191.8 2,153.8 2,170.6 2,169.0 2,197.5 2,136.4 2,152.8 2,150.8 2,184.1 -1.7 3.2 -.5 6.8 -.8 4.5 .2 7.1 -1.9 1.9 -.9 5.0 -1.0 3.2 -.3 5.4 -1.4 3.1 -.4 6.3 1957:1 II Ill IV .... 2,182.7 2,177.7 2,198.9 2,176.0 1,374.2 1,376.5 1,387.7 1,388.8 250.0 249.9 255.6 234.1 86.9 84.3 81.9 79.3 92.4 93.2 91.3 91.5 604.0 600.6 605.5 616.6 -40.0 -40A -40.5 -51.3 2,194.1 2,186.1 2,203.0 2,202.7 2,203.9 2,203.3 2,226.3 2,206.6 2,215.8 2,212.1 2,230.7 2,234.1 2,198.8 2,195.0 2,215.5 2,189.2 2.3 -.9 4.0 -4.1 3.4 -1.4 3.1 -.1 2.2 -.1 4.3 -3.5 3.4 -.7 3.4 .6 2.7 -.7 3.8 -4.7 1958:1 II Ill IV .... 2,117.4 2,129.7 2,177.5 2,226.5 1,370.1 1,380.9 1,402.3 1,418.8 216.7 211.3 228.4 249.6 71.4 71.7 72.0 71.9 92.6 96.5 95.5 101.1 609.6 625.0 628.4 641.5 -57.8 -62.7 -58.1 -54.2 2,146.7 2,157.4 2,186.7 2,226.3 2,158.9 2,174.9 2,222.2 2,278.0 2,189.0 2,203.5 2,232.1 2,278.1 2,131.0 2,143.6 2,190.9 2,239.7 -10.3 2.4 9.3 9.3 -9.8 2.0 5.5 7.4 -8.4 3.0 9.0 10.4 -7.8 2.7 5.3 8.5 -10.2 2.4 9.1 9.2 1959:1 II Ill IV .... 2,273.0 2,332.4 2,331.4 2,339.1 1,445.2 1,468.2 1,483.8 1,485.6 263.0 286.2 266.6 275.6 69.1 70.6 76.4 73.5 102.3 108.0 109.4 106.7 651.5 663.9 668.1 662.2 -53.5 -18.5 -54.1 -51.1 2,275.1 2,314.9 2,344.3 2,335.5 2,330.4 2,394.7 2,387.3 2,396.5 2,332.9 2,377.2 2,400.8 2,393.1 2,286.2 2,345.5 2,345.5 2,354.1 8.6 10.9 -.2 1.3 9.1 7.2 5.2 -1.5 9.5 11.5 -1.2 1.5 10.0 7.8 4.0 -1.3 8.6 10.8 0 1.5 1960:1 II Ill IV .... 2,391.0 2,379.2 2,383.6 2,352.9 1,499.2 1,518.1 1,512.1 1,513.5 305.3 274.0 272.4 239.5 83.8 87.3 89.3 89.3 110.5 111.1 107.8 102.7 648.8 657.4 665.9 673.1 -35.6 -46.5 -48.3 -59.8 2,360.4 2,382.7 2,380.0 2,391.1 2,439.4 2,423.3 2,421.8 2,385.6 2,408.5 2,427.2 2,418.4 2,424.8 2,405.4 2,393.9 2,398.9 2,369.3 9.2 -2.0 .7 -5.0 4.3 3.8 -.5 1.9 7.4 -2.6 -.3 -5.8 2.6 3.1 -1.4 1.1 9.0 -1.9 .8 -4.9 1961:I II Ill IV .... 2,366.5 2,410.8 2,450.4 2,500.4 1,512.8 1,535.2 1,542.9 1,574.2 245.0 263.3 285.5 290.2 89.9 85.7 89.2 90.8 102.2 103.5 110.4 113.0 680.4 687.2 694.0 711.1 -59.4 -57.1 -50.8 -52.9 2,392.9 2,418.3 2,437.7 2,493.2 2,398.1 2,450.4 2,492.8 2,544.4 2,425.3 2,458.4 2,480.0 2,537.3 2,383.7 2,427.1 2,467.2 2,517.5 2.3 7.7 6.8 8.4 .3 4.3 3.2 9.4 2.1 9.0 7.1 8.5 .1 5.6 3.6 9.6 2.5 7.5 6.8 8.4 1962:1 II Ill IV .... 2,544.0 2,571.5 2,596.8 2,603.3 1,590.6 1,609.9 1,622.9 1,645.9 307.3 304.5 310.0 299.5 90.1 96.1 95.9 92.5 116.4 119.0 120.5 122.0 723.4 731.7 740.8 744.2 -51.0 -51.7 -52.3 -56.8 2,522.5 2,564.6 2,586.2 2,604.6 2,593.1 2,615.7 2,643.3 2,655.7 2,571.5 2,608.9 2,632.8 2,657.3 2,561.0 2,590.3 2,615.7 2,625.1 7.2 4.4 4.0 1.0 4.8 6.8 3.4 2.9 7.9 3.5 4.3 1.9 5.5 5.9 3.7 3.8 7.1 4.7 4.0 1.4 1963:1 II Ill IV .... 2,634.1 2,668.4 2,719.6 2,739.4 1,657.1 1,673.0 1,695.7 1,710.0 315.4 320.8 331.5 335.2 92.8 101.3 102.1 106.7 119.1 121.9 125.0 124.6 740.0 744.3 765.9 759.2 -52.1 -49.1 -50.6 -47.1 2,619.3 2,663.9 2,712.0 2,739.6 2,684.2 2,710.7 2,765.0 2,778.9 2,669.4 2,706.4 2,757.5 2,779.3 2,654.8 2,688.2 2,739.8 2,760.3 4.8 5.3 7.9 2.9 2.3 7.0 7.4 4.1 4.4 4.0 8.3 2.0 1.8 5.7 7.8 3.2 4.6 5.1 7.9 3.0 1964:1 II Ill IV .... 2,800.5 2,833.8 2,872.0 2,879.5 1,743.8 1,775.0 1,807.8 1,812.8 348.9 347.5 355.7 358.3 112.6 111.7 115.0 117.4 124.5 127.3 130.7 134.3 763.1 772.9 766.4 766.1 -43.4 -46.0 ^2.2 -40.8 2,799.3 2,833.5 2,868.3 2,875.5 2,833.6 2,871.4 2,909.5 2,917.4 2,832.6 2,871.4 2,905.9 2,913.5 2,823.2 2,855.7 2,894.7 2,900.5 9.2 4.8 5.5 1.0 9.0 5.0 5.0 1.0 8.1 5.4 5.4 1.1 7.9 5.6 4.9 1.0 9.4 4.7 5.6 .8 See footnotes and note at the end of the table. 132 • April 2000 SURVEY OF CURRENT BUSINESS Table 2A.—Real Gross Domestic Product—Continued [Billions of chained (1996) dollars; quarterly estimates are seasonally adjusted at annual ra! Year and quarter GDP Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services Exports Percent change from preceding period Government1 Residual Imports Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers GNP Final sales of domestic product GDP Gross domestic purchases Final sales to domestic purchasers GNP 1965:1 II Ill IV .... 2,950.1 2,989.9 3,050.7 3,123.6 1,852.5 1,873.2 1,905.3 1,959.3 394.9 394.6 408.4 410.1 103.2 119.6 117.5 125.6 129.4 144.7 145.3 152.4 765.5 781.3 800.3 817.2 -36.6 -54.1 -55.5 -56.2 2,920.2 2,973.2 3,029.4 3,111.4 3,003.4 3,036.9 3,102.6 3,173.3 2,973.3 3,020.2 3,081.2 3,161.1 2,974.0 3,014.6 3,073.6 3,144.5 10.2 5.5 8.4 9.9 6.4 7.4 7.8 11.3 12.3 4.5 8.9 9.4 8.5 6.5 8.3 10.8 10.5 5.6 8.1 9.5 1966:1 II Ill IV .... 3,201.1 3,213.2 3,233.6 3,261.8 1,988.6 1,994.0 2,016.6 2,025.1 444.1 436.5 432.7 435.8 124.0 123.1 123.9 126.1 156.3 160.2 169.2 171.1 832.5 857.8 870.1 888.0 -31.8 -38.0 -40.5 -42.1 3,165.1 3,180.0 3,205.0 3,214.5 3,258.3 3,275.5 3,303.8 3,331.6 3,221.9 3,241.9 3,274.9 3,283.6 3,222.6 3,234.8 3,254.7 3,283.7 10.3 1.5 2.6 3.5 7.1 1.9 3.2 1.2 11.2 2.1 3.5 3.4 7.9 2.5 4.1 1.1 10.3 1.5 2.5 3.6 1967:1 II Ill IV .... 3,291.8 3,289.7 3,313.5 3,338.3 2,037.3 2,064.6 2,075.2 2,087.9 424.9 405.0 415.2 423.6 127.9 126.6 125.3 128.3 173.5 172.4 174.7 184.0 925.6 921.3 926.8 934.8 -50.4 -55.4 -54.3 -52.3 3,246.9 3,281.5 3,297.4 3,326.9 3,362.1 3,360.7 3,388.8 3,418.9 3,316.6 3,352.7 3,373.0 3,407.7 3,313.4 3,310.7 3,336.6 3,360.8 3.7 -.3 2.9 3.0 4.1 4.3 2.0 3.6 3.7 -.2 3.4 3.6 4.1 4.4 2.4 4.2 3.7 -.3 3.2 2.9 1968:1 II Ill IV .... 3,406.2 3,464.8 3,489.2 3,504.1 2,136.2 2,169.6 2,210.7 2,220.4 433.8 451.8 437.3 442.2 131.3 133.5 141.8 138.7 194.7 197.7 209.5 207.7 951.4 956.0 958.3 960.5 -51.8 ^8.4 -49.4 -50.0 3,394.2 3,428.5 3,478.1 3,499.5 3,494.2 3,554.1 3,578.9 3,596.6 3,482.6 3,517.4 3,568.1 3,592.5 3,429.2 3,488.3 3,513.4 3,528.1 8.4 7.1 2.8 1.7 8.3 4.1 5.9 2.5 9.1 7.0 2.8 2.0 9.1 4.1 5.9 2.8 8.4 7.1 2.9 1.7 1969:1 II Ill IV .... 3,558.3 3,567.6 3,588.3 3,571.4 2,244.8 2,258.8 2,269.0 2,286.5 470.8 467.1 477.2 452.6 124.1 150.5 148.8 151.4 188.2 225.3 222.4 219.9 956.9 956.0 954.1 943.1 -50.1 -39.5 -38.4 -42.3 3,535.0 3,551.3 3,569.0 3,568.3 3,653.4 3,661.9 3,682.8 3,660.0 3,630.2 3,646.0 3,663.7 3,657.5 3,582.2 3,590.6 3,610.3 3,593.3 6.3 1.0 2.3 -1.9 4.1 1.9 2.0 -.1 6.5 .9 2.3 -2.5 4.3 1.8 2.0 -.7 6.3 .9 2.2 -1.9 1970:1 II Ill IV .... 3,566.5 3,573.9 3,605.2 3,566.5 2,300.8 2,312.0 2,332.2 2,324.9 438.0 439.4 446.5 421.0 155.0 160.1 159.9 162.1 219.2 223.5 223.0 226.5 936.2 927.3 930.9 929.9 -44.3 -41.4 -41.3 -44.9 3,578.9 3,573.2 3,605.0 3,597.4 3,649.8 3,654.7 3,686.7 3,647.3 3,663.2 3,654.6 3,687.0 3,679.5 3,589.1 3,597.4 3,628.3 3,587.6 -.6 .8 3.6 -4.2 1.2 -.6 3.6 -.8 -1.1 .5 3.5 -4.2 .6 -.9 3.6 -.8 -.5 .9 3.5 -4.4 1971:1 II Ill IV .... 3,666.1 3,686.2 3,714.5 3,723.8 2,369.8 2,391.4 2,409.8 2,449.8 475.9 490.2 496.5 480.6 160.7 160.6 169.4 151.0 223.8 240.7 246.0 229.3 918.6 915.2 911.9 909.4 -55.1 -30.5 -27.1 -57.7 3,643.1 3,667.8 3,698.9 3,742.5 3,748.6 3,784.4 3,807.1 3,824.4 3,725.7 3,766.3 3,791.9 3,844.2 3,691.3 3,712.8 3,738.4 3,749.2 11.6 2.2 3.1 1.0 5.2 2.7 3.4 4.8 11.6 3.9 2.4 1.8 5.1 4.4 2.7 5.6 12.1 2.4 2.8 1.2 1972:1 II Ill IV .... 3,796.9 3,883.8 3,922.3 3,990.5 2,482.2 2,527.5 2,565.9 2,626.3 513.6 544.9 554.1 559.4 168.8 166.4 173.8 184.9 262.8 253.4 258.7 270.3 920.8 921.9 907.6 909.1 -25.7 -23.5 -20.4 -18.9 3,802.2 3,862.7 3,897.2 3,988.5 3,907.1 3,990.5 4,025.5 4,092.0 3,913.3 3,969.7 4,000.5 4,090.7 3,823.4 3,910.0 3,950.7 4,018.7 8.1 9.5 4.0 7.1 6.5 6.5 3.6 9.7 8.9 8.8 3.6 6.8 7.4 5.9 3.1 9.3 8.2 9.4 4.2 7.1 1973:1 II Ill IV .... 4,092.3 4,133.3 4,117.0 4,151.1 2,674.2 2,671.4 2,682.5 2,675.6 595.2 618.2 597.5 615.3 201.8 210.5 212.4 221.1 282.8 274.7 267.1 269.1 914.5 911.5 898.5 908.4 -10.6 -3.6 -6.8 -.2 4,075.5 4,094.4 4,100.7 4,106.3 4,187.0 4,209.6 4,182.6 4,207.1 4,170.5 4,170.6 4,166.6 4,162.1 4,125.0 4,168.3 4,158.0 4,192.5 10.6 4.1 -1.6 3.4 9.0 1.9 .6 .5 9.6 2.2 -2.5 2.4 8.0 0 -.4 -.4 11.0 4.3 -1.0 3.4 1974:1 II Ill IV .... 4,119.3 4,130.4 4,084.5 4,062.0 2,652.4 2,662.0 2,672.2 2,628.4 579.2 577.3 543.4 547.0 228.6 238.4 226.7 232.6 260.0 273.8 269.0 266.3 920.0 927.8 924.2 927.4 -.9 -1.3 -13.0 -7.1 4,101.8 4,105.6 4,089.8 4,025.8 4,152.2 4,166.4 4,131.2 4,096.3 4,134.7 4,141.7 4,136.7 4,060.0 4,168.1 4,176.5 4,126.5 4,098.0 -5.0 1.1 -4.4 -2.2 -.4 .4 -1.5 -6.1 -5.1 1.4 ^3.3 -3.3 -2.6 .7 -.5 -7.2 -2.3 .8 -4.7 -2.7 1975: I II Ill IV .... 4,010.0 4,045.2 4,115.4 4,167.2 2,648.8 2,695.4 2,734.7 2,764.6 450.8 436.4 474.9 486.8 232.2 222.7 226.5 238.7 239.6 220.4 238.7 251.5 940.8 938.3 941.8 949.1 -23.0 -27.2 -23.8 -20.5 4,054.7 4,099.2 4,135.9 4,184.3 4,009.3 4,034.0 4,123.4 4,174.2 4,054.4 4,088.4 4,144.1 4,191.5 4,040.1 4,075.6 4,148.4 4,206.7 -5.0 3.6 7.1 5.1 2.9 4.5 3.6 4.8 -8.2 2.5 9.2 5.0 -.5 3.4 5.6 4.7 -5.5 3.6 7.3 5.7 1976:1 II Ill IV .... 4,266.1 4,301.5 4,321.9 4,357.4 2,824.7 2,850.9 2,880.3 2,919.6 535.1 559.8 561.1 565.9 237.9 240.1 246.8 249.7 267.2 278.8 290.2 299.8 952.5 943.3 938.9 938.6 -16.9 -13.8 -15.0 -16.6 4,248.8 4,264.1 4,289.7 4,352.4 4,295.0 4,342.3 4,367.7 4,411.4 4,277.7 4,304.7 4,335.3 4,406.6 4,304.2 4,341.2 4,362.0 4,398.4 9.8 3.4 1.9 3.3 6.3 1.4 2.4 6.0 12.1 4.5 2.4 4.1 8.5 2.5 2.9 6.7 9.6 3.5 1.9 3.4 1977:1 II Ill IV .... 4,410.5 4,489.8 4,570.6 4,576.1 2,954.7 2,970.5 2,999.1 3,044.0 595.5 635.0 670.7 656.4 245.9 252.5 254.5 246.0 313.9 316.8 312.4 316.8 945.3 955.1 956.0 954.5 -17.0 -6.5 2.7 -8.0 4,393.8 4,464.0 4,509.7 4,547.5 4,488.6 4,562.8 4,635.5 4,658.6 4,472.0 4,537.0 4,574.3 4,629.9 4,457.6 4,535.9 4,616.4 4,616.6 5.0 7.4 7.4 .5 3.9 6.5 4.2 3.4 7.2 6.8 6.5 2.0 6.1 5.9 3.3 4.9 5.5 7.2 7.3 0 1978:1 II Ill IV .... 4,588.9 4,765.7 4,811.7 4,876.0 3,060.8 3,127.0 3,143.1 3,167.8 667.2 709.7 728.8 746.3 251.8 278.2 281.1 292.3 338.0 339.1 343.6 348.3 956.7 982.1 990.3 999.6 -0.6 7.8 12.0 18.3 4,552.0 4,730.8 4,774.7 4,834.2 4,690.6 4,832.6 4,880.4 4,935.4 4,653.9 4,797.6 4,843.3 4,893.4 4,636.0 4,804.8 4,854.6 4,925.8 1.1 16.3 3.9 5.5 .4 16.7 3.8 5.1 2.8 12.7 4.0 4.6 2.1 12.9 3.9 4.2 1.7 15.4 4.2 6.0 1979:1 II Ill IV .... 4,888.3 4,891.4 4,926.2 4,942.6 3,188.6 3,184.3 3,213.9 3,225.7 746.0 745.7 732.1 717.8 292.3 292.9 303.1 321.2 347.3 349.2 343.9 351.3 990.6 1,000.5 1,002.4 1,010.8 18.1 17.2 18.6 18.4 4,855.1 4,852.9 4,921.9 4,947.7 4,945.9 4,950.9 4,963.6 4,964.8 4,912.7 4,912.3 4,959.2 4,969.6 4,939.6 4,949.3 4,995.6 5,011.4 1.0 .3 2.9 1.3 1.7 -.2 5.8 2.1 .9 .4 1.0 .1 1.6 0 3.9 .8 1.1 .8 3.8 1.3 1980:1 II Ill IV .... 4,958.9 4,857.8 4,850.3 4,936.6 3,222.4 3,149.2 3,181.2 3,219.4 711.7 647.4 599.8 662.2 331.3 337.5 336.2 334.3 351.7 326.1 302.6 318.9 1,025.6 1,028.7 1,015.4 1,013.9 19.6 21.1 20.3 25.7 4,961.4 4,861.6 4,923.9 4,965.2 4,967.8 4,819.4 4,777.2 4,890.9 4,970.0 4,822.9 4,849.4 4,918.8 5,028.8 4,922.5 4,911.3 4,986.3 1.3 -7.9 -.6 7.3 1.1 -7.8 5.2 3.4 .2 -11.4 -5.5 9.9 0 -11.3 2.2 5.8 1.4 -8.2 -.9 6.3 1981:1 II Ill IV .... 5,032.5 4,997.3 5,056.8 4,997.1 3,233.1 3,235.5 3,250.5 3,225.0 726.3 693.4 733.9 708.8 340.2 342.0 334.8 337.5 332.5 333.0 329.3 338.7 1,027.5 1,030.1 1,027.8 1,034.8 37.9 29.3 39.1 29.7 4,985.6 4,995.9 5,003.5 4,972.9 4,998.0 4,961.5 5,024.9 4,975.9 4,951.3 4,959.8 4,971.7 4,951.7 5,086.4 5,048.1 5,110.5 5,056.8 8.0 -2.8 4.9 -4.6 1.7 .8 .6 -2.4 9.1 -2.9 5.2 -3.8 2.7 .7 1.0 -1.6 8.3 -3.0 5.0 -4A 1982:1 II Ill IV .... 4,914.3 4,935.5 4,912.1 4,915.6 3,244.3 3,253.4 3,274.6 3,329.6 634.8 631.6 623.5 571.1 323.8 326.0 311.3 297.5 329.1 323.7 338.7 325.4 1,033.6 1,039.5 1,046.8 1,064.0 6.9 8.7 -5.4 -21.2 4,959.7 4,954.2 4,916.8 4,989.1 4,899.0 4,909.5 4,926.8 4,930.9 4,943.7 4,927.8 4,931.3 5,003.8 4,969.4 4,996.9 4,963.4 4,964.8 -6.5 1.7 -1.9 .3 -1.1 -.4 -3.0 6.0 -5.0 .9 1.4 .3 -6 -1.3 .3 6.0 -6.7 2.2 -2.7 .1 1983:1 II Ill IV .... 4,972.4 5,089.8 5,180.4 5,286.8 3,360.1 3,430.1 3,484.7 3,542.2 590.7 650.7 691.4 762.2 302.4 303.4 307.9 314.1 332.8 358.4 386.3 405.3 1,069.8 1,078.2 1,097.0 1,078.8 -17.8 -14.2 -14.3 -5.2 5,036.1 5,113.1 5,200.3 5,268.5 4,991.4 5,140.6 5,261.1 5,383.3 5,054.6 5,163.6 5,280.6 5,364.9 5,021.5 5,142.2 5,233.9 5,342.0 4.7 9.8 7.3 8.5 3.8 6.3 7.0 5.4 5.0 12.5 9.7 9.6 4.1 8.9 9.4 6.5 4.6 10.0 7.3 8.5 1984:I II Ill IV .... 5,402.3 5,493.8 5,541.3 5,583.1 3,579.7 3,628.3 3,653.5 3,700.9 845.0 873.2 890.7 876.9 321.4 329.4 336.5 343.1 437.8 456.2 468.0 481.8 1,091.0 1,115.2 1,123.1 1,144.2 3.0 3.9 5.5 -.2 5,313.9 5,410.8 5,456.0 5,531.0 5,529.8 5,633.7 5,686.5 5,736.7 5,441.4 5,550.7 5,601.3 5,684.6 5,452.6 5,544.3 5,591.1 5,627.1 9.0 7.0 3.5 3.1 3.5 7.5 3.4 5.6 11.3 7.7 3.8 3.6 5.8 8.3 3.7 6.1 8.5 6.9 3.4 2.6 1985:1 II Ill IV .... 5,629.7 5,673.8 5,758.6 5,806.0 3,756.8 3,791.5 3,860.9 3,874.2 848.9 862.8 854.1 887.8 342.8 341.3 336.2 346.2 471.1 494.2 489.3 508.3 1,157.6 1,180.5 1,209.2 1,214.7 -5.3 -8.1 -12.5 -8.6 5,619.8 5,657.0 5,746.0 5,772.5 5,771.2 5,844.1 5,929.7 5,987.1 5,761.5 5,827.4 5,917.3 5,953.9 5,664.3 5,710.9 5,788.6 5,839.6 3.4 3.2 6.1 3.3 6.6 2.7 6.4 1.9 2.4 5.1 6.0 3.9 5.5 4.7 6.3 2.5 2.7 3.3 5.6 3.6 See footnotes and note at the end of the table. April 2000 • SURVEY OF CURRENT BUSINESS 133 Table 2A.—Real Gross Domestic Product—Continued [Billions of chained (1996) dollars; quarterly estimates are seasonally adjusted at annual rates] Year and quarter GDP Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services Exports Percent change from preceding period Government 1 Residual Imports Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers GNP Final sales of domestic product GDP Gross domestic purchases Final sales to domestic purchasers GNP 1986:1 II Ill IV .... 5,858.9 5,883.3 5,937.9 5,969.5 3,907.9 3,950.4 4,019.7 4,046.8 886.2 868.3 838.0 838.2 355.9 360.0 368.6 382.6 507.3 528.8 543.6 548.1 1,224.0 1,248.0 1,277.4 1,271.5 -7.8 -14.6 -22.2 -21.5 5,828.7 5,872.6 5,956.0 5,993.1 6,027.3 6,071.4 6,132.6 6,153.2 5,997.2 6,061.0 6,151.1 6,177.1 5,887.3 5,901.9 5,959.0 5,981.7 3.7 1.7 3.8 2.1 3.9 3.1 5.8 2.5 2.7 3.0 4.1 1.4 2.9 4.3 6.1 1.7 3.3 1.0 3.9 1.5 1987:1 II Ill IV .... 6,013.3 6,077.2 6,128.1 6,234.4 4,049.7 4,101.5 4,147.0 4,155.3 863.4 863.9 860.5 929.3 383.6 399.3 416.7 432.2 544.9 558.9 569.9 583.0 1,278.4 1,289.1 1,292.4 1,310.0 -16.9 -17.7 -18.6 -9.4 5,985.4 6,066.8 6,138.7 6,164.1 6,192.2 6,253.9 6,297.5 6,401.1 6,164.5 6,243.8 6,308.3 6,331.1 6,027.6 6,095.8 6,145.8 6,254.1 3.0 4.3 3.4 7.1 -.5 5.6 4.8 1.7 2.6 4.0 2.8 6.7 -.8 5.2 4.2 1.5 3.1 4.6 3.3 7.2 1988:1 II Ill IV .... 6,275.9 6,349.8 6,382.3 6,465.2 4,228.0 4,256.8 4,291.6 4,341.4 884.6 902.5 907.5 916.7 456.1 468.8 477.3 491.8 580.3 573.2 586.1 603.0 1,300.1 1,302.4 1,300.3 1,327.2 -12.6 -7.5 -8.3 -8.9 6,263.0 6,334.0 6,365.9 6,447.5 6,411.5 6,462.0 6,499.7 6,585.2 6,398.7 6,446.3 6,483.3 6,567.6 6,302.0 6,372.8 6,402.0 6,487.4 2.7 4.8 2.1 5.3 6.6 4.6 2.0 5.2 .6 3.2 2.4 5.4 4.3 3.0 2.3 5.3 3.1 4.6 1.9 5.4 1989:1 II Ill IV .... 6,543.8 6,579.4 6,610.6 6,633.5 4,357.1 4,374.8 4,413.4 4,429.4 952.7 941.1 929.3 922.9 510.5 530.8 530.8 545.5 595.7 606.9 612.3 620.2 1,319.3 1,340.6 1,353.5 1,360.4 -.1 -1.0 -4.1 -4.5 6,492.7 6,542.8 6,605.8 6,620.4 6,633.3 6,658.4 6,695.8 6,711.0 6,582.3 6,621.9 6,691.0 6,697.9 6,565.6 6,599.7 6,633.4 6,663.4 5.0 2.2 1.9 1.4 2.8 3.1 3.9 .9 3.0 1.5 2.3 .9 .9 2.4 4.2 .4 4.9 2.1 2.1 1.8 1990:1 II Ill IV .... 6,716.3 6,731.7 6,719.4 6,664.2 4,466.0 4,478.8 4,495.6 4,457.7 934.0 933.0 912.6 849.6 565.8 577.6 572.8 586.5 628.1 639.3 640.4 621.0 1,381.2 1,384.7 1,384.8 1,398.6 -2.6 -3.1 -6.0 -7.2 6,705.8 6,697.6 6,699.2 6,680.0 6,779.5 6,794.5 6,788.9 6,696.6 6,769.0 6,760.4 6,768.8 6,712.3 6,743.6 6,760.8 6,742.6 6,713.3 5.1 .9 -.7 -3.2 5.3 -.5 .1 -1.1 4.1 .9 -.3 -5.3 4.3 -.5 .5 -3.3 4.9 1.0 -1.1 -1.7 1991:1 II Ill IV .... 6,631.4 6,668.5 6,684.9 6,720.9 4,437.5 4,469.9 4,484.3 4,474.8 815.1 808.8 829.8 864.2 584.5 613.3 616.9 638.3 602.7 623.9 640.8 648.7 1,404.7 1,408.9 1,403.0 1,397.0 -7.7 -8.5 -8.3 -4.7 6,652.5 6,692.5 6,689.2 6,692.0 6,645.5 6,674.9 6,705.9 6,727.5 6,666.4 6,698.8 6,710.1 6,698.5 6,667.4 6,692.1 6,704.7 6,749.4 -2.0 2.3 1.0 2.2 -1.6 2.4 -.2 .2 -3.0 1.8 1.9 1.3 -2.7 2.0 .7 -.7 -2.7 1.5 .8 2.7 1992:1 II Ill IV .... 6,783.3 6,846.8 6,899.7 6,990.6 4,544.8 4,566.7 4,600.5 4,665.9 843.8 901.8 912.1 941.6 643.9 647.1 650.8 662.2 650.6 670.1 672.9 689.5 1,407.6 1,405.7 1,413.1 1,413.7 -6.2 -4.4 -3.9 -3.3 6,788.9 6,827.1 6,882.7 6,972.4 6,785.7 6,866.6 6,918.4 7,015.0 6,791.3 6,847.0 6,901.4 6,996.8 6,811.1 6,873.8 6,923.3 7,015.1 3.8 3.8 3.1 5.4 5.9 2.3 3.3 5.3 3.5 4.9 3.0 5.7 5.7 3.3 3.2 5.6 3.7 3.7 2.9 5.4 1993:1 II Ill IV .... 6,988.7 7,031.2 7,062.0 7,168.7 4,674.9 4,721.5 4,776.9 4,822.3 964.8 967.0 964.1 1,015.6 661.4 674.4 660.8 694.3 705.8 726.1 733.1 762.2 1,396.4 1,398.0 1,398.4 1,402.2 -3.0 -3.6 -5.1 -3.5 6,953.6 7,008.8 7,057.9 7,154.8 7,031.3 7,081.5 7,133.8 7,235.9 6,996.2 7,059.1 7,129.6 7,222.0 7,020.9 7,056.0 7,092.4 7,182.1 -.1 2.5 1.8 6.2 -1.1 3.2 2.8 5.6 .9 2.9 3.0 5.8 0 3.6 4.1 5.3 .3 2.0 2.1 5.2 1994:1 II Ill IV .... 7,229.4 7,330.2 7,370.2 7,461.1 4,866.6 4,907.9 4,944.5 4,993.6 1,057.3 1,118.5 1,101.8 1,150.5 696.7 725.1 742.4 767.1 776.8 811.3 834.6 854.8 1,388.0 1,390.4 1,417.5 1,404.5 -2.4 -.4 -1.4 .2 7,187.1 7,250.2 7,318.5 7,387.2 7,309.2 7,416.2 7,462.4 7,548.8 7,266.9 7,336.2 7,410.8 7,474.8 7,249.8 7,346.3 7,385.1 7,476.0 3.4 5.7 2.2 5.0 1.8 3.6 3.8 3.8 4.1 6.0 2.5 4.7 2.5 3.9 4.1 3.5 3.8 5.4 2.1 5.0 1995:1 II Ill IV .... 7,488.7 7,503.3 7,561.4 7,621.9 5,011.6 5,059.6 5,099.2 5,132.1 1,162.4 1,128.5 1,119.1 1,152.4 780.6 788.9 821.9 841.4 873.1 886.4 889.1 897.8 1,407.3 1,414.0 1,410.8 1,393.5 -.1 -1.3 -.5 .3 7,427.3 7,469.6 7,549.7 7,602.5 7,581.3 7,601.1 7,627.9 7,677.2 7,520.0 7,567.4 7,616.2 7,657.8 7,510.2 7,528.6 7,572.3 7,645.2 1.5 .8 3.1 3.2 2.2 2.3 4.4 2.8 1.7 1.0 1.4 2.6 2.4 2.5 2.6 2.2 1.8 1.0 2.3 3.9 1996:1 II Ill IV .... 7,676.4 7,802.9 7,841.9 7,931.3 5,174.3 5,229.5 5,254.3 5,291.9 1,172.3 1,233.4 1,281.4 1,283.7 846.1 860.1 867.0 923.5 921.1 950.4 982.9 998.1 1,404.8 1,430.4 1,422.0 1,430.6 0 -.1 .1 -.3 7,669.6 7,773.4 7,792.1 7,897.6 7,751.0 7,893.1 7,957.9 8,006.5 7,744.1 7,863.6 7,908.0 7,972.7 7,703.1 7,820.4 7,853.5 7,947.9 2.9 6.8 2.0 4.6 3.6 5.5 1.0 5.5 3.9 7.5 3.3 2.5 4.6 6.3 2.3 3.3 3.1 6.2 1.7 4.9 1997:1 II Ill IV .... 8,018.7 8,115.4 8,192.2 8,253.2 5,349.2 5,369.3 5,453.1 5,497.3 1,326.5 1,394.1 1,397.6 1,424.9 942.1 977.6 1,004.2 1,008.4 1,034.7 1,080.8 1,125.5 1,139.9 1,436.0 1,455.8 1,461.8 1,461.4 -.4 -.6 1.0 1.1 7,966.4 8,022.7 8,132.6 8,180.3 8,111.5 8,218.1 8,311.7 8,382.3 8,059.2 8,125.4 8,252.2 8,309.4 8,025.1 8,126.7 8,196.1 8,255.7 4:5 4.9 3.8 3.0 3.5 2.9 5.6 2.4 5.4 5.4 4.6 3.4 4.4 3.3 6.4 2.8 3.9 5.2 3.5 2.9 1998:1 II Ill IV .... 8,391.1 8,436.3 8,515.7 8,639.5 5,575.1 5,658.8 5,714.2 5,779.3 1,531.5 1,513.1 1,551.1 1,593.9 1,004.5 994.5 990.6 1,028.7 1,179.0 1,215.6 1,231.0 1,263.1 1,457.6 1,479.1 1,483.9 1,494.7 1.4 6.4 6.9 6.0 8,285.5 8,389.5 8,439.4 8,568.7 8,560.7 8,648.6 8,746.0 8,863.7 8,454.8 8,601.9 8,669.5 8,792.7 8,396.0 8,438.2 8,492.8 8,624.4 6.9 2.2 3.8 5.9 5.2 5.1 2.4 6.3 8.8 4.2 4.6 5.5 7.2 7.1 3.2 5.8 7.0 2.0 2.6 6.3 1999:1 II Ill IV .... 8,717.6 8,758.3 8,879.8 9,037.2 5,871.3 5,944.5 6,015.7 6,102.9 1,608.2 1,599.8 1,651.6 1,691.4 1,014.3 1,024.3 1,052.6 1,078.2 1,300.9 1,345.4 1,393.0 1,422.3 1,513.4 1,518.3 1,535.3 1,569.6 11.3 16.8 17.6 17.4 8,665.0 8,737.5 8,835.0 8,964.6 8,988.8 9,059.5 9,197.8 9,358.6 8,936.2 9,039.0 9,153.1 9,286.0 8,705.1 8,746.0 8,866.8 9,005.2 3.7 1.9 5.7 7.3 4.6 3.4 4.5 6.0 5.8 3.2 6.2 7.2 6.7 4.7 5.1 5.9 3.8 1.9 5.6 6.4 1. Government consumption expenditures and gross investment. NOTE.—The residual is the difference between GDP and the sum of the detailed components shown in this table. GDP Gross domestic product. GNP Gross national product. 134 • April 2000 SURVEY OF CURRENT BUSINESS Table 2B.—Chain-Type Quantity Indexes for Gross Domestic Product [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services Government consumption expenditures and gross investment PjyoH im/ncfrrtant Year and quarter Gross domestic product Total ftnrahla uurauie goods Nondurable goods Nonresidentia Services Total Structures Equipment and software Total Total Residential iiai Exports Imports Total Federal State and local Final sales of domestic product Gross national product 1929 10.52 11.95 6.36 17.27 10.04 7.54 10.16 8.65 32.96 4.28 16.34 4.10 4.81 7.75 3.55 13.18 10.68 10.59 1930 1931 1932 1933 1934 9.62 9.01 7.83 7.72 8.55 11.31 10.97 9.99 9.76 10.44 5.24 4.48 3.36 3.29 3.80 16.46 16.38 15.04 14.82 16.08 9.80 9.49 8.88 8.60 8.92 5.03 3.16 1.41 2.54 7.78 5.40 3.14 2.78 3.59 7.13 4.67 2.80 2.52 3.21 28.20 18.15 11.13 8.65 9.74 3.39 2.26 1.33 1.36 1.88 9.94 8.31 4.39 3.59 4.91 3.39 2.82 2.21 2.22 2.46 4.18 3.65 3.03 3.15 3.22 8.53 8.90 8.61 8.30 9.35 3.94 4.08 4.16 5.11 6.88 14.50 15.15 14.46 12.96 13.62 9.95 9.37 8.31 8.05 8.80 9.68 9.05 7.87 7.75 8.57 1935 1936 1937 1938 1939 9.32 10.53 11.08 10.70 11.56 11.09 12.21 12.67 12.46 13.16 4.64 5.70 6.00 4.90 5.83 17.05 19.05 19.73 20.01 21.04 9.20 9.67 10.00 9.89 10.20 4.70 6.03 7.53 4.98 6.40 4.65 6.19 7.27 5.76 6.91 4.07 5.51 6.60 4.84 5.40 10.79 14.15 17.95 14.36 15.15 2.56 3.51 4.09 2.85 3.29 6.87 8.69 9.45 9.51 13.47 2.60 2.73 3.44 3.41 3.60 4.22 4.17 4.70 3.65 3.83 9.63 11.18 10.77 11.58 12.64 7.03 10.72 9.74 10.74 11.57 14.08 14.02 14.07 14.87 16.37 9.36 10.59 11.04 10.88 11.69 9.35 10.54 11.11 10.73 11.60 1940 1941 1942 1943 1944 12.55 14.70 17.41 20.27 21.94 13.84 14.83 14.48 14.88 15.31 6.71 7.79 4.75 4.15 3.80 21.98 23.46 23.87 24.67 25.64 10.56 11.09 11.57 12.16 12.57 8.92 10.90 5.76 3.40 4.20 8.30 9.48 5.35 4.13 5.07 6.69 7.88 4.64 3.88 5.15 17.20 20.43 12.63 9.18 12.02 4.26 5.00 2.87 2.58 3.45 15.19 16.14 8.16 4.85 4.18 4.08 4.19 2.75 2.30 2.47 3.93 4.83 4.38 5.53 5.78 12.83 21.31 50.01 74.54 84.08 12.51 33.22 102.01 161.79 185.15 15.88 14.91 13.59 12.40 11.97 12.46 14.46 17.47 20.62 22.32 12.57 14.73 17.43 20.28 21.95 1945 1946 1947 1948 1949 21.67 19.27 19.14 19.97 19.85 16.26 18.27 18.64 19.06 19.58 4.28 8.14 9.69 10.32 11.17 27.49 29.00 28.21 28.30 28.74 13.00 14.23 14.94 15.52 15.91 5.55 14.08 13.57 17.33 13.22 6.95 12.66 15.24 16.78 15.33 7.24 10.47 12.20 12.83 11.65 16.20 32.01 29.12 30.64 29.62 4.94 5.95 8.11 8.53 7.47 4.91 20.68 26.65 31.89 29.48 3.49 7.61 8.69 6.84 6.78 6.15 5.10 4.84 5.65 5.45 73.21 25.29 21.60 23.13 25.83 158.67 42.88 31.88 34.30 37.49 12.29 13.52 15.41 16.39 18.88 22.12 19.06 19.49 19.85 20.31 21.67 19.29 19.19 20.04 19.91 1950 1951 1952 1953 1954 21.59 23.23 24.16 25.26 25.09 20.83 21.14 21.81 22.86 23.33 13.63 12.42 12.08 13.58 13.53 29.64 30.42 31.63 32.63 33.04 16.71 17.50 18.28 19.08 19.86 18.71 18.77 16.99 17.78 16.96 18.31 17.54 17.22 18.42 18.71 12.72 13.31 13.06 14.23 13.93 31.75 34.15 34.04 37.06 38.33 8.25 8.49 8.25 9.00 8.50 40.33 33.76 33.16 34.33 37.18 5.93 7.27 6.93 6.47 6.78 6.44 6.69 7.28 7.97 7.57 25.84 35.16 42.56 45.54 42.40 35.34 58.41 76.67 82.70 71.75 20.45 20.61 20.94 21.97 23.88 21.49 22.99 24.24 25.44 25.50 21.65 23.32 24.25 25.35 25.19 1955 1956 1957 1958 1959 26.87 27.40 27.95 27.68 29.68 25.02 25.75 26.38 26.60 28.08 16.53 15.86 16.00 14.71 16.49 34.64 35.82 36.48 36.83 38.35 20.88 21.95 22.79 23.66 24.90 21.09 20.81 19.91 18.23 21.96 21.15 21.24 21.01 19.47 22.20 15.48 16.37 16.62 14.76 15.94 41.09 45.39 45.37 42.64 43.65 9.67 9.93 10.19 8.71 9.74 43.20 39.69 37.26 37.65 47.26 7.50 8.75 9.51 8.21 8.28 8.49 9.17 9.56 10.01 11.07 40.82 40.85 42.67 44.04 46.52 65.10 63.99 66.27 66.23 70.91 25.63 26.43 27.98 30.34 31.42 26.90 27.52 28.22 28.00 29.78 26.98 27.53 28.09 27.79 29.79 1960 1961 1962 1963 1964 30.42 31.13 33.01 34.43 36.43 28.85 29.43 30.88 32.15 34.08 16.82 16.19 18.08 19.84 21.67 38.93 39.64 40.89 41.75 43.80 25.99 27.04 28.38 29.67 31.47 21.95 21.81 24.57 26.21 28.37 22.39 22.32 24.33 26.21 28.74 16.84 16.74 18.19 19.20 21.47 47.12 47.76 49.91 50.46 55.71 10.16 9.96 11.11 12.04 13.58 43.89 44.02 48.24 53.92 57.05 10.00 10.17 10.72 11.52 13.06 11.21 11.14 12.40 12.74 13.41 46.51 48.75 51.69 52.91 53.95 68.81 71.46 77.38 77.16 75.85 32.79 34.81 35.87 38.04 40.61 30.56 31.29 33.01 34.48 36.54 30.54 31.27 33.17 34.62 36.63 1965 1966 1967 1968 1969 38.76 41.31 42.34 44.36 45.71 36.23 38.30 39.45 41.70 43.24 24.42 26.48 26.90 29.85 30.92 46.12 48.65 49.42 51.67 53.05 33.15 34.83 36.54 38.42 40.24 32.35 35.19 33.57 35.51 37.58 31.66 33.47 32.84 35.12 37.30 25.20 28.35 27.95 29.19 31.39 64.59 69.02 67.26 68.21 71.89 16.06 18.61 18.48 19.62 21.34 55.39 50.43 48.84 55.50 57.14 13.33 14.22 14.53 15.59 16.44 14.84 17.05 18.29 21.02 22.21 55.64 60.63 65.20 67.27 66.99 76.00 84.59 92.84 93.69 90.57 43.34 46.08 48.37 51.22 52.71 38.65 41.00 42.25 44.33 45.69 38.97 41.49 42.53 44.56 45.90 1970 1971 . . . 1972 1973 1974 45.80 47.33 49.90 52.78 52.46 44.25 45.92 48.70 51.09 50.67 29.91 32.91 37.08 40.91 38.10 54.32 55.30 57.73 59.62 58.42 41.87 43.46 45.86 48.02 49.07 35.10 39.09 43.70 48.81 45.20 36.51 39.26 43.96 47.97 44.96 31.22 31.21 34.04 38.99 39.30 72.12 70.94 73.12 79.08 77.43 21.12 21.31 24.04 28.44 29.13 53.73 68.46 80.63 80.11 63.57 18.22 18.35 19.84 24.19 26.49 23.16 24.40 27.13 28.39 27.75 65.48 64.26 64.34 63.87 65.04 84.21 78.24 76.53 72.77 72.47 54.21 55.96 57.18 58.84 60.96 46.11 47.39 49.95 52.60 52.43 45.98 47.54 50.13 53.13 52.89 1975 1976 1977 1978 1979 52.28 55.19 57.75 60.93 62.87 51.76 54.78 57.13 59.66 61.16 38.09 42.95 46.95 49.43 49.26 59.28 62.17 63.67 66.05 67.81 50.73 53.13 55.48 58.12 59.99 37.20 44.70 51.45 57.38 59.18 40.13 44.08 50.41 56.22 59.37 35.41 37.14 41.32 47.15 51.88 69.32 71.02 73.97 82.66 93.08 26.35 27.98 32.18 37.09 40.33 55.32 68.34 83.02 88.26 85.03 26.32 27.87 28.57 31.56 34.59 24.66 29.49 32.70 35.54 36.13 66.28 66.34 67.00 69.07 70.40 72.47 71.63 72.89 74.82 76.63 62.99 63.62 63.90 66.08 67.12 52.92 55.10 57.54 60.68 62.88 52.58 55.57 58.19 61.36 63.51 1980 1981 1982 1983 1984 62.73 64.26 62.96 65.69 70.46 60.96 61.79 62.54 65.95 69.51 45.39 45.98 45.98 52.81 60.54 67.71 68.51 69.17 71.47 74.31 60.99 61.90 62.96 66.06 68.84 52.73 57.59 49.51 54.22 70.13 55.58 56.79 52.81 56.76 66.28 51.85 54.77 52.72 52.19 61.37 99.23 107.09 105.47 94.53 108.03 38.88 40.52 38.42 40.50 48.40 67.05 61.68 50.45 71.19 81.56 38.30 38.74 35.99 35.11 38.05 33.73 34.61 34.18 38.49 47.86 71.80 72.44 73.56 76.02 78.65 80.31 84.08 87.13 92.61 95.50 67.08 65.75 65.66 66.24 68.73 63.32 64.11 63.66 66.23 69.74 63.37 64.81 63.51 66.21 70.92 1985 1986 1987 1988 1989 73.17 75.67 78.24 81.51 84.37 72.95 76.01 78.54 81.71 83.89 66.52 72.58 73.84 78.11 79.75 76.33 79.07 80.97 83.55 85.83 72.44 74.86 78.09 81.30 83.56 69.48 69.02 70.76 72.65 75.36 69.77 70.60 70.58 73.15 75.14 65.49 63.73 63.65 67.11 70.83 115.92 103.43 99.69 100.95 103.42 51.48 52.51 53.37 57.37 61.39 82.67 92.58 92.79 92.32 88.53 39.08 41.96 46.67 54.17 60.56 50.95 55.23 58.58 60.81 63.21 83.72 88.28 90.89 91.95 94.48 102.79 108.45 112.45 110.41 111.88 72.44 76.34 78.13 81.02 84.18 73.22 75.97 78.23 81.62 84.35 73.44 75.75 78.29 81.61 84.48 1990 1991 1992 1993 1994 85.85 85.45 88.06 90.39 94.04 85.43 85.28 87.72 90.67 94.09 79.01 73.79 77.70 84.08 90.46 87.01 86.65 88.29 90.87 94.35 85.86 87.03 89.59 91.98 94.72 73.01 66.75 72.41 78.69 89.08 73.77 68.65 73.10 79.03 86.25 71.35 67.83 70.11 76.00 82.78 104.95 93.38 87.70 88.39 89.14 61.63 60.38 64.86 72.22 80.79 80.92 70.57 82.09 88.09 96.64 65.85 70.15 74.47 76.95 83.83 65.64 65.31 69.64 75.98 85.08 97.56 98.69 99.16 98.37 98.46 114.16 113.80 111.95 107.60 103.71 87.73 89.73 91.56 92.88 95.34 86.03 85.85 88.24 90.50 93.61 86.07 85.60 88.18 90.51 94.04 1995 1996 1997 1998 1999 96.55 100.00 104.25 108.74 113.25 96.91 100.00 103.43 108.48 114.25 94.66 100.00 106.63 118.66 132.32 97.14 100.00 102.92 107.07 112.84 97.26 100.00 103.06 107.26 111.59 91.79 100.00 111.51 124.52 131.79 91.46 100.00 108.52 121.37 131.15 90.89 100.00 110.71 124.80 135.17 93.39 100.00 108.45 112.93 110.25 90.08 ""• 93.13 100.00 100.00 111.48 102.35 129.09 111.78 144.55 120.06 92.45 100.00 112.46 114.92 119.24 92.05 100.00 113.72 126.89 141.77, 98.91 100.00 102.24 104.00 107.89 100.92 100.00 99.84 98.94 101.73 97.71 100.00 103.66 107.00 111.54 96.52 100.00 103.76 108.19 113.07 96.59 100.00 104.08 108.38 112.76 1947:1 II Ill IV .... 18.96 19.06 19.11 19.41 18.39 18.69 18.74 18.75 9.32 9.50 9.63 10.30 27.91 28.38 28.47 28.09 14.82 15.01 14.99 14.94 13.28 12.82 12.76 15.41 14.97 14.56 15.05 16.37 12.38 12.17 11.93 12.31 29.32 29.09 29.25 28.81 8.26 8.08 7.82 8.27 24.51 23.27 26.82 32.00 9.23 9.13 8.68 7.70 5.00 5.09 4.51 4.76 21.52 21.64 21.78 21.46 32.23 32.22 32.09 30.97 15.00 15.23 15.59 15.84 19.33 19.44 19.59 19.60 19.01 19.11 19.16 19.46 1948:1 II Ill IV .... 19.68 19.99 20.07 20.11 18.84 19.05 19.09 19.25 10.21 10.29 10.48 10.31 28.10 28.39 28.16 28.56 15.22 15.44 15.64 15.76 16.88 17.74 17.79 16.90 16.92 16.91 16.73 16.54 13.08 12.62 12.66 12.98 29.43 30.27 31.19 31.67 8.96 8.37 8.26 8.53 31.62 33.47 32.42 30.04 7.35 6.65 6.80 6.56 5.37 5.58 5.87 5.78 21.88 22.92 23.35 24.37 32.05 33.96 34.61 36.57 15.80 16.26 16.53 16.95 19.68 19.82 19.86 20.04 19.75 20.06 20.15 20.18 .95 April 2000 • SURVEY OF CURRENT BUSINESS 135 Table 2B.—Chain-Type Quantity Indexes for Gross Domestic Product—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services Government consumption expenditures and gross investment Fixed investment Year and quarter Gross domestic product Total Durable goods Nondurable goods IPresidential Services Total Total Total Structures Equipment and software Residential Exports Imports Total Federal State and local Final sales of domestic product Gross national product 1949:1 II Ill IV .... 19.83 19.78 20.00 19.79 19.26 19.56 19.60 19.88 10.07 11.01 11.57 12.01 28.70 28.76 28.54 28.94 15.84 15.94 15.90 15.95 14.35 12.38 13.47 12.68 15.59 15.09 15.05 15.59 12.36 11.87 11.28 11.09 31.02 30.31 28.97 28.16 7.99 7.59 7.19 7.12 27.76 27.29 29.62 33.24 7.35 7.29 6.68 5.78 5.59 5.52 5.30 5.39 24.99 26.12 26.40 25.81 37.13 38.52 38.11 36.18 17.64 18.66 19.43 19.79 20.10 20.36 20.35 20.42 19.90 19.84 20.06 19.84 1950:1 II Ill IV .... 20.61 21.23 22.05 22.45 20.22 20.54 21.60 20.96 12.49 12.56 15.72 13.73 29.29 29.61 30.14 29.50 16.20 16.66 16.89 17.08 15.94 17.74 19.29 21.88 16.58 18.12 19.47 19.07 11.40 12.42 13.54 13.52 29.53 31.01 32.80 33.64 7.24 8.05 8.92 8.78 37.03 40.61 42.85 40.84 5.68 5.75 5.90 6.37 5.52 5.83 7.20 7.21 25.39 25.77 25.29 26.90 34.43 35.13 33.89 37.91 20.30 20.47 20.51 20.52 20.75 21.30 22.06 21.83 20.67 21.29 22.13 22.52 1951:1 II Ill IV .... 22.70 23.09 23.55 23.59 21.44 20.84 21.08 21.20 14.15 12.04 11.78 11.69 30.25 29.91 30.58 30.92 17.34 17.44 17.59 17.65 19.55 20.05 18.52 16.95 18.36 17.51 17.23 17.06 13.17 13.35 13.50 13.23 33.73 34.87 34.66 33.34 8.41 8.42 8.61 8.53 38.66 33.46 31.33 31.61 6.70 7.36 7.54 7.47 7.22 6.97 6.37 6.20 29.67 33.77 37.57 39.64 45.13 54.83 64.22 69.44 20.30 20.65 20.75 20.72 22.45 22.56 23.30 23.65 22.77 23.18 23.64 23.70 1952:1 II Ill IV .... 23.87 23.89 24.04 24.83 21.26 21.67 21.77 22.54 11.81 12.01 11.23 13.28 30.72 31.45 31.96 32.38 17.90 18.14 18.39 18.69 17.35 15.91 16.72 17.97 17.26 17.51 16.42 17.68 13.27 13.44 12.21 13.32 33.39 33.64 33.92 35.21 8.57 8.70 7.40 8.34 32.45 33.04 32.70 34.46 7.84 6.97 6.43 6.48 6.94 6.90 7.32 7.97 41.13 42.50 42.93 43.66 73.22 76.08 78.11 79.25 20.77 21.22 20.64 21.12 23.88 24.26 24.02 24.81 23.96 23.98 24.13 24.92 1953:1 II Ill IV .... 25.29 25.50 25.34 24.93 22.82 22.96 22.91 22.76 13.78 13.70 13.62 13.21 32.63 32.78 32.55 32.53 18.85 19.12 19.23 19.12 18.31 18.39 17.93 16.50 18.39 18.48 18.50 18.30 14.05 14.13 14.46 14.28 36.28 36.96 37.17 37.83 8.93 8.91 9.21 8.93 34.99 35.10 33.77 33.48 6.36 6.41 6.66 6.44 7.79 8.18 8.15 7.74 45.10 46.13 45.54 45.39 82.18 84.89 82.48 81.25 21.59 21.54 22.12 22.66 25.35 25.56 25.49 25.35 25.38 25.59 25.41 25.01 1954:1 II Ill IV .... 24.81 24.84 25.11 25.61 22.84 23.13 23.43 23.92 12.79 13.44 13.50 14.37 32.77 32.66 33.08 33.64 19.34 19.75 20.08 20.28 16.37 16.33 17.17 17.97 18.02 18.31 19.05 19.47 13.87 13.71 14.10 14.05 38.21 38.48 38.40 38.24 8.45 8.26 8.66 8.63 33.83 36.03 38.23 40.63 6.15 7.04 6.81 7.12 7.29 7.95 7.49 7.57 44.10 42.62 41.58 41.31 76.74 72.84 69.13 68.30 23.45 23.54 24.21 24.32 25.19 25.30 25.54 25.95 24:90 24.93 25.20 25.72 1955:1 II Ill IV .... 26.34 26.76 27.12 27.26 24.44 24.90 25.21 25.52 15.71 16.59 17.15 16.65 33.89 34.48 34.74 35.46 20.59 20.71 20.91 21.31 19.89 21.15 21.44 21.89 20.26 21.13 21.60 21.62 14.30 15.20 15.99 16.43 39.44 40.41 41.74 42.76 8.71 9.49 10.08 10.38 43.65 44.30 43.35 41.51 7.39 7.21 7.69 7.72 7.98 8.44 8.60 8.92 41.24 40.78 41.07 40.18 66.56 64.90 65.69 63.24 25.36 25.70 25.66 25.80 26.44 26.78 27.17 27.22 26.45 26.87 27.23 27.38 1956:1 II Ill IV .... 27.15 27.36 27.33 27.78 25.57 25.66 25.72 26.07 15.87 15.89 15.58 16.10 35.81 35.72 35.75 36.01 21.54 21.80 22.07 22.39 21.15 20.93 20.69 20.47 21.15 21.33 21.30 21.16 16.11 16.38 16.51 16.48 44.08 45.66 45.96 45.87 9.86 9.90 9.99 9.97 40.42 40.17 39.39 38.77 8.09 8.64 8.93 9.33 9.26 9.22 9.31 8.91 40.15 40.97 40.60 41.67 62.77 64.38 63.24 65.55 26.06 26.37 26.50 26.77 27.17 27.47 27.48 27.96 27.28 27.49 27.46 27.89 1957:1 II Ill IV .... 27.94 27.87 28.14 27.85 26.24 26.28 26.50 26.52 16.43 16.01 15.88 15.69 36.13 36.30 36.84 36.66 22.52 22.69 22.83 23.11 20.12 20.11 20.57 18.84 21.16 20.96 21.16 20.76 16.59 16.56 16.89 16.44 45.52 45.47 45.42 45.08 10.14 10.11 10.46 10.05 38.21 37.29 36.79 36.74 9.94 9.65 9.37 9.07 9.59 9.67 9.48 9.50 42.48 42.24 42.59 43.36 66.61 65.65 65.95 66.87 27.43 27.67 28.06 28.75 28.19 28.09 28.31 28.30 28.08 28.03 28.29 27.96 1958:1 II Ill IV .... 27.10 27.26 27.87 28.50 26.16 26.37 26.78 27.09 14.63 14.38 14.66 15.20 36.22 36.48 37.09 37.52 23.19 23.58 23.89 23.99 17.44 17.01 18.38 20.09 19.47 18.90 19.16 20.35 15.25 14.57 14.34 14.88 44.06 42.59 41.62 42.28 8.99 8.52 8.43 8.88 35.28 35.37 37.95 42.00 8.16 8.20 8.24 8.23 9.62 10.02 9.92 10.50 42.87 43.96 44.20 45.12 64.45 66.56 66.21 67.70 29.56 29.98 30.63 31.20 27.58 27.72 28.10 28.60 27.21 27.37 27.98 28.60 1959:1 II Ill IV .... 29.09 29.85 29.84 29.94 27.59 28.03 28.33 28.37 16.08 16.69 17.02 16.16 37.95 38.26 38.46 38.72 24.33 24.76 25.10 25.42 21.17 23.03 21.45 22.18 21.62 22.31 22.59 22.28 15.36 15.82 16.33 16.26 42.12 43.42 44.70 44.37 9.38 9.66 9.98 9.96 46.82 48.48 47.56 46.17 7.91 8.07 8.74 8.40 10.63 11.21 11.36 11.07 45.82 46.69 46.99 46.57 69.20 71.27 71.99 71.19 31.37 31.47 31.50 31.34 29.23 29.74 30.12 30.01 29.19 29.95 29.95 30.06 1960:1 II Ill IV .... 30.60 30.45 30.51 30.12 28.63 28.99 28.87 28.90 16.71 17.10 16.97 16.51 38.71 39.17 38.90 38.93 25.73 25.99 26.00 26.26 24.57 22.05 21.92 19.27 23.05 22.59 21.99 21.93 16.87 17.13 16.72 16.66 46.22 46.76 46.86 48.65 10.31 10.50 10.07 9.76 47.50 43.59 42.27 42.21 9.59 9.99 10.22 10.22 11.47 11.54 11.19 10.66 45.63 46.23 46.83 47.34 67.97 68.32 69.11 69.83 31.87 32.65 33.13 33.51 30.33 30.61 30.58 30.72 30.72 30.57 30.63 30.25 1961:1 II Ill IV .... 30.29 30.86 31.36 32.00 28.88 29.31 29.46 30.06 15.54 15.87 16.26 17.07 39.18 39.59 39.62 40.18 26.51 26.98 27.09 27.59 19.72 21.19 22.97 23.35 21.63 21.94 22.48 23.22 16.28 16.60 16.76 17.31 48.42 47.61 47.62 47.37 9.41 9.85 10.00 10.59 42.38 42.53 44.83 46.33 10.29 9.80 10.21 10.38 10.61 10.75 11.46 11.73 47.85 48.33 48.81 50.01 69.50 71.06 71.83 73.46 34.59 34.37 34.66 35.61 30.74 31.07 31.32 32.03 30.44 - 30.99 31.50 32.15 1962:1 II Ill IV .... 32.56 32.91 33.24 33.32 30.37 30.74 30.99 31.43 17.45 17.91 18.06 18.90 40.53 40.72 41.03 41.28 27.84 28.27 28.52 28.88 24.73 24.51 24.95 24.10 23.71 24.43 24.64 24.53 17.70 18.23 18.47 18.36 48.24 50.00 51.34 50.07 10.86 11.13 11.19 11.26 47.17 48.64 48.60 48.54 10.31 11.00 10.97 10.59 12.09 12.35 12.51 12.66 50.87 51.46 52.10 52.34 76.07 77.19 78.13 78.13 35.35 35.60 36.06 36.45 32.41 32.95 33.23 33.47 32.70 33.08 33.40 33.52 1963:1 II Ill IV .... 33.71 34.15 34.81 35.06 31.64 31.94 32.38 32.65 19.31 19.75 19.98 20.31 41.45 41.62 41.96 41.98 29.03 29.35 29.94 30.35 25.38 25.81 26.68 26.97 24.80 25.94 26.62 27.46 18.31 18.89 19.47 20.10 48.32 50.60 50.95 51.97 11.46 11.72 12.25 12.74 50.29 53.91 54.91 56.58 10.62 11.59 11.68 12.21 12.37 12.66 12.98 12.94 52.04 52.34 53.86 53.40 76.30 76.55 78.91 76.87 37.15 37.49 38.49 39.03 33.65 34.23 34.84 35.20 33.90 34.33 34.99 35.25 1964:1 II Ill IV .... 35.84 36.27 36.76 36.85 33.29 33.89 34.52 34.61 21.08 21.64 22.36 21.61 42.78 43.56 44.35 44.50 30.80 31.26 31.70 32.14 28.08 27.96 28.63 28.83 28.52 28.44 28.89 29.08 20.61 21.14 21.85 22.28 53.32 55.15 56.97 57.41 13.06 13.32 13.77 14.15 60.04 57.02 56.09 55.07 12.88 12.77 13.16 13.43 12.93 13.22 13.57 13.94 53.67 54.35 53.90 53.87 76.69 77.05 75.20 74.48 39.60 40.51 40.95 41.39 35.97 36.41 36.85 36.95 36.05 36.47 00.yo 37.04 1965:1 II Ill IV .... 37.76 38.27 39.05 39.98 35.37 35.77 36.38 37.41 23.69 23.75 24.59 25.64 45.01 45.51 46.18 47.78 32.44 32.90 33.35 33.92 31.78 31.75 32;86 33.00 30.42 31.27 32.12 32.85 23.79 24.69 25.62 26.72 60.35 64.56 65.23 68.24 15.25 15.54 16.38 17.05 55.26 55.69 55.91 54.70 11.81 13.69 13.44 14.37 13.44 15.02 15.09 15.82 53.84 54.95 56.28 57.47 73.79 75.01 76.57 78.64 41.78 42.84 44.04 44.69 37.52 38.20 38.92 39.98 37.98 38.49 39.25 40.15 1966:1 II Ill IV .... 40.97 41.13 41.39 41.75 37.97 38.07 38.50 38.67 26.88 25.76 26.64 26.65 48.22 48.64 48.97 48.78 34.25 34.66 34.96 35.44 35.74 35.13 34.82 35.07 34.09 33.62 33.60 32.57 27.90 28.30 28.64 28.55 69.88 68.51 70.03 67.65 18.01 18.64 18.76 19.03 55.94 51.45 49.78 44.56 14.18 14.09 14.18 14.42 16.23 16.63 17.57 17.76 58.54 60.33 61.19 62.45 80.50 84.55 85.95 87.38 45.26 45.61 46.13 47.31 40.67 40.86 41.18 41.30 41.15 41.31 41.56 41.93 1967:1 II Ill IV .... 42.13 42.10 42.41 42.73 38.90 39.42 39.62 39.86 26.14 27.30 27.05 27.09 49.15 49.39 49.43 49.70 35.88 36.32 36.83 37.13 34.19 32.59 33.41 34.08 31.80 32.64 32.95 33.97 27.94 27.86 27.72 28.28 68.34 66.40 67.09 67.20 18.29 18.52 18.26 18.83 43.22 48.13 50.54 53.49 14.63 14.48 14.34 14.68 18.02 17.90 18.14 19.10 65.09 64.79 65.18 65.74 93.35 92.15 92.86 92.98 47.87 48.13 48.32 49.16 41.72 42.16 42.37 42.75 42.31 42.28 42.61 42.92 1968:1 II Ill IV .... 43.60 44.35 44.66 44.85 40.79 41.43 42.21 42.39 28.82 29.38 30.71 30.50 50.79 51.44 52.23 52.23 37.55 38.21 38.72 39.21 34.91 36.36 35.19 35.59 34.79 34.60 35.11 35.99 29.16 28.65 29.03 29.90 68.54 67.94 67.49 68.88 19.54 19.09 19.57 20.26 53.81 55.17 56.16 56.86 15.02 15.27 16.22 15.86 20.22 20.52 21.76 21.57 66.91 67.24 67.39 67.55 94.58 93.92 93.25 93.03 50.06 51.02 51.71 52.09 43.61 44.05 44.69 44.96 43.79 44.54 44.86 45.05 136 • April 2000 SURVEY OF CURRENT BUSINESS Table 2B.—Chain-Type Quantity Indexes for Gross Domestic Product—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Personal consumption expenditures Gross private domestic investment Exports and imports of goods and services PjyoH ini/oetmorrt ^w Year and quarter Gross domestic product Total Durable goods Nondurable goods Government consumption expenditures and gross investment IM?VVUIIV NonresidentiaI Services Total Total Total Structures Equipment and software Residential Exports Imports Total Federal State and local Final sales of domestic product Gross national product 1969:1 II Ill IV .... 45.54 45.66 45.93 45.71 42.86 43.13 43.32 43.66 31.07 30.97 30.89 30.73 52.72 52.99 53.07 53.40 39.60 40.02 40.40 40.94 37.89 37.59 38.40 36.42 37.09 37.27 37.90 36.94 30.76 31.10 31.95 31.76 69.92 70.50 73.85 73.31 20.99 21.26 21.61 21.50 58.91 58.28 57.80 53.58 14.20 17.22 17.02 17.32 19.54 23.39 23.09 22.83 67.29 67.23 67.10 66.33 91.85 91.07 90.59 88.78 52.41 52.80 52.88 52.75 45.42 45.63 45.86 45.85 45.74 45.85 46.10 45.88 1970:1 II Ill IV .... 45.65 45.74 46.14 45.65 43.93 44.14 44.53 44.39 30.19 30.50 30.59 28.38 53.95 54.06 54.41 54.84 41.35 41.59 42.11 42.41 35.24 35.36 35.93 33.88 36.79 35.99 36.61 36.66 31.55 31.40 31.55 30.38 72.76 72.00 72.28 71.46 21.37 21.34 21.44 20.33 53.68 50.11 52.78 58.34 17.73 18.32 18.29 18.55 22.76 23.21 23.16 23.52 65.84 65.21 65.47 65.39 86.64 84.51 83.19 82.51 53.28 53.60 54.83 55.13 45.98 45.91 46.32 46.22 45.83 45.94 46.33 45.81 1971:1 II Ill IV .... 46.92 47.18 47.54 47.66 45.25 45.66 46.01 46.78 31.57 32.29 33.15 34.61 55.03 55.23 55.24 55.70 42.78 43.21 43.59 44.27 38.29 39.45 39.95 38.67 37.49 39.02 39.74 40.80 30.67 31.10 31.21 31.84 71.26 71.07 70.82 70.61 20.67 21.17 21.33 22.07 61.45 67.65 70.99 73.74 18.39 18.37 19.38 17.27 23.24 24.99 25.55 23.81 64.60 64.36 64.13 63.95 79.96 78.75 77.90 76.34 55.42 55.80 55.95 56.65 46.81 47.13 47.52 48.09 47.14 47.41 47.74 47.88 1972:1 II Ill IV .... 48.60 49.71 50.20 51.07 47.39 48.26 48.99 50.15 35.45 36.32 37.27 39.29 56.04 57.42 58.23 59.24 44.97 45.47 46.04 46.95 41.33 43.85 44.59 45.02 42.64 43.39 43.88 45.93 32.92 33.47 34.00 35.79 72.47 72.87 72.99 74.13 22.91 23.44 24.01 25.79 78.66 80.20 80.39 83.26 19.31 19.03 19.88 21.16 27.29 26.31 26.86 28.07 64.76 64.84 63.83 63.94 78.06 78.57 75.23 74.27 56.88 56.68 57.17 57.97 48.85 49.63 50.07 51.25 48.82 49.93 50.45 51.32 1973:1 II Ill IV .... 52.38 52.90 52.69 53.13 51.06 51.01 51.22 51.09 41.84 41.16 40.84 39.81 59.89 59.37 59.72 59.50 47.41 47.93 48.24 48.51 47.89 49.75 48.08 49.51 47.88 48.27 48.12 47.62 37.47 38.97 39.61 39.90 76.57 78.96 80.76 80.02 27.21 28.43 28.80 29.29 86.05 81.68 78.22 74.48 23.08 24.08 24.29 25.29 29.37 28.52 27.73 27.94 64.32 64.11 63.19 63.89 74.79 74.08 70.77 71.45 58.26 58.38 59.00 59.71 52.36 52.61 52.69 52.76 52.67 53.23 53.10 53.54 1974:1 II Ill IV .... 52.72 52.86 52.28 51.99 50.64 50.83 51.02 50.18 38.71 39.08 39.40 35.22 58.72 58.51 58.63 57.81 48.56 48.96 49.16 49.58 46.61 46.46 43.73 44.02 46.51 45.83 45.03 42.46 39.88 39.78 39.33 38.21 79.60 79.30 75.87 74.93 29.35 29.29 29.50 28.40 69.02 66.00 63.83 55.43 26.15 27.27 25.93 26.61 26.99 28.43 27.93 27.65 64.70 65.25 65.00 65.22 72.36 72.61 72.13 72.76 60.47 61.20 61.09 61.06 52.70 52.75 52.55 51.72 53.22 53.33 52.69 52.33 1975:1 II Ill IV .... 51.32 51.77 52.67 53.34 50.57 51.46 52.21 52.79 36.04 36.81 39.16 40.35 58.05 59.30 59.79 59.97 49.92 50.57 50.91 51.54 36.27 35.12 38.21 39.17 39.88 39.31 40.28 41.05 35.88 34.94 35.24 35.60 71.12 68.42 68.84 68.90 26.51 25.99 26.26 26.65 52.00 53.12 56.83 59.31 26.57 25.48 25.91 27.30 24.88 22.88 24.79 26.11 66.16 65.98 66.23 66.74 72.41 72.71 72.24 72.50 62.83 62.35 63.05 63.73 52.10 52.67 53.14 53.76 51.59 52.04 52.97 53.72 1976:1 II Ill IV .... 54.60 55.05 55.32 55.77 53.93 54.43 54.99 55.74 42.48 42.58 42.98 43.77 61.16 61.98 62.51 63.05 52.28 52.69 53.33 54.21 43.06 45.05 45.15 45.54 42.74 43.47 43.92 46.18 36.23 36.66 37.46 38.20 70.78 70.55 71.28 71.48 26.98 27.52 28.29 29.10 65.38 67.26 66.16 74.59 27.21 27.47 28.23 28.57 27.75 28.95 30.13 31.13 66.99 66.34 66.03 66.01 71.72 71.66 71.45 71.67 64.62 63.60 63.22 63.05 54.59 54.79 55.12 55.92 54.96 55.43 55.70 56.17 1977:1 II Ill IV .... 56.45 57.46 58.50 58.57 56.42 56.72 57.26 58.12 45.58 46.68 47.31 48.23 63.42 63.30 63.41 64.57 54.68 55.00 55.82 56.43 47.92 51.10 53.97 52.82 47.86 50.55 51.15 52.09 39.70 40.87 41.66 43.08 71.28 73.93 75.06 75.61 30.87 31.66 32.34 33.86 76.84 85.63 85.36 84.24 28.14 28.88 29.12 28.14 32.60 32.89 32.43 32.89 66.48 67.17 67.23 67.13 71.98 73.18 73.43 72.98 63.62 64.00 63.93 64.05 56.45 57.35 57.94 58.43 56.92 57.92 58.95 58.95 1978:1 II Ill IV .... 58.73 61.00 61.58 62.41 58.44 59.71 60.01 60.48 46.95 50.62 49.90 50.27 64.98 65.68 66.37 67.17 57.25 58.06 58.44 58.72 53.69 57.11 58.65 60.06 52.46 56.12 57.58 58.73 43.41 46.91 48.40 49.88 74.72 81.31 85.75 88.87 34.45 37.10 37.88 38.92 84.72 88.70 89.92 89.68 28.81 31.83 32.16 33.43 35.10 35.21 35.67 36.17 67.28 69.07 69.64 70.30 73.25 74.92 75.21 75.90 64.13 66.02 66.78 67.42 58.49 60.78 61.35 62.11 59.20 61.35 61.99 62.90 1979: I II Ill IV .... 62.57 62.61 63.05 63.26 60.88 60.80 61.36 61.59 49.75 48.61 50.01 48.68 67.52 67.24 67.97 68.51 59.46 59.89 60.05 60.57 60.03 60.00 58.91 57.77 59.26 58.88 59.97 59.38 51.07 51.00 52.66 52.79 88.80 90.41 95.00 98.11 40.35 39.90 40.82 40.26 87.59 86.04 84.90 81.57 33.44 33.51 34.68 36.75 36.06 36.26 35.71 36.48 69.66 70.36 70.49 71.09 75.96 76.78 76.72 77.06 66.33 66.96 67.21 67.97 62.38 62.35 63.24 63.57 63.08 63.20 63.79 63.99 1980:1 II Ill IV .... 63.47 62.18 62.08 63.18 61.53 60.13 60.74 61.47 48.03 42.66 44.70 46.15 68.35 67.47 67.33 67.68 60.78 60.36 61.03 61.79 57.27 52.09 48.27 53.29 58.69 53.41 53.99 56.25 53.44 50.68 51.09 52.19 99.90 97.52 98.26 101.24 40.61 37.88 38.20 38.83 75.76 61.17 62.34 68.92 37.90 38.60 38.45 38.24 36.52 33.86 31.42 33.11 72.13 72.34 71.41 71.31 79.27 81.24 80.29 80.45 68.28 67.39 66.46 66.18 63.75 62.46 63.26 63.79 64.22 62.86 62.71 63.67 1981:1 II Ill IV .... 64.41 63.96 64.72 63.96 61.73 61.78 62.06 61.58 47.54 45.62 47.11 43.63 68.33 68.54 68.53 68.63 61.40 61.98 62.08 62.15 58.44 55.80 59.06 57.04 56.66 56.90 56.89 56.71 53.02 54.01 55.34 56.70 100.96 104.71 107.29 115.40 39.90 40.19 41.18 40.82 67.74 65.12 59.98 53.90 38.92 39.13 38.30 38.61 34.52 34.58 34.19 35.17 72.26 72.44 72.28 72.78 82.12 84.61 84.55 85.05 66.69 65.42 65.20 65.70 64.06 64.19 64.29 63.89 64.95 64.46 65.26 64.57 1982:1 II Ill IV .... 62.90 63.17 62.87 62.91 61.94 62.12 62.52 63.57 45.14 45.28 45.65 47.83 68.73 68.83 69.22 69.88 62.33 62.56 62.99 63.95 51.08 50.82 50.17 45.96 55.06 53.05 51.47 51.66 55.43 53.36 51.55 50.55 111.73 107.96 102.10 100.08 40.18 38.57 37.82 37.10 50.82 49.17 48.55 53.27 37.04 37.29 35.61 34.03 34.17 33.60 35.16 33.78 72.69 73.11 73.62 74.82 85.19 86.02 87.42 89.91 65.47 65.62 65.57 65.98 63.72 63.65 63.17 64.10 63.46 63.81 63.38 63.40 1983:1 II Ill IV .... 63.64 65.14 66.30 67.67 64.16 65.49 66.53 67.63 48.36 52.01 54.06 56.81 70.23 70.93 71.99 72.71 64.69 65.74 66.47 67.32 47.54 52.36 55.64 61.33 52.69 54.94 58.08 61.33 49.67 50.37 52.60 56.12 96.06 91.58 93.79 96.71 37.03 38.99 41.19 44.78 61.52 69.49 75.84 77.91 34.59 34.70 35.22 35.94 34.56 37.21 40.11 42.08 75.24 75.83 77.15 75.87 90.76 92.59 95.21 91.89 66.12 65.93 66.46 66.44 64.71 65.69 66.81 67.69 64.12 65.66 66.83 68.21 1984:1 II Ill IV .... 69.14 70.32 70.92 71.46 68.35 69.28 69.76 70.66 59.03 60.40 60.39 62.35 73.10 74.41 74.65 75.07 67.81 68.36 69.14 70.05 68.00 70.27 71.68 70.56 63.31 66.02 67.32 68.49 57.85 60.72 62.66 64.26 102.20 107.32 110.66 111.94 45.53 47.78 49.32 50.97 80.69 82.69 81.64 81.23 36.77 37.68 38.50 39.24 45.46 47.37 48.59 50.02 76.73 78.43 78.98 80.47 92.70 95.73 95.41 98.17 67.35 68.21 69.34 70.02 68.27 69.52 70.10 71.06 69.63 70.80 71.40 71.86 1985:1 II Ill IV .... 72.05 72.62 73.70 74.31 71.73 72.39 73.72 73.97 64.56 65.25 69.45 66.81 75.49 76.10 76.57 77.17 71.19 71.88 72.93 73.77 68.31 69.43 68.73 71.44 69.16 69.83 69.39 70.70 64.97 65.94 64.94 66.10 116.74 116.82 114.30 115.82 50.63 51.81 51.21 52.27 81.76 81.32 82.93 84.69 39.21 39.04 38.46 39.60 48.91 51.31 50.81 52.78 81.41 83.02 85.04 85.43 99.49 101.65 105.02 105.02 70.73 72.01 73.20 73.83 72.21 72.68 73.83 74.17 72.33 72.93 73.92 74.57 1986:1 II Ill IV .... 74.99 75.30 76.00 76.40 74.61 75.43 76.75 77.27 68.10 70.37 76.50 75.35 78.17 79.01 79.19 79.92 74.01 74.41 75.10 75.94 71.31 69.87 67.44 67.45 70.80 70.71 70.24 70.65 65.21 63.65 62.70 63.36 113.13 102.52 98.76 99.32 51.85 52.64 52.43 53.10 88.29 93.35 94.58 94.10 40.71 41.19 42.17 43.77 52.67 54.90 56.44 56.91 86.08 87.76 89.83 89.42 104.39 107.50 111.77 110.12 75.29 76.10 76.83 77.16 74.89 75.45 76.52 77.00 75.18 75.36 76.09 76.38 1987: I II Ill IV .... 76.96 77.78 78.43 79.79 77.32 78.31 79.18 79.34 70.60 73.61 76.69 74.45 80.43 81.00 81.06 81.39 77.02 77.71 78.46 79.16 69.47 69.52 69.25 74.78 69.04 70.35 71.58 71.38 61.59 63.02 65.05 64.93 96.60 97.35 101.47 103.34 51.62 53.20 54.66 54.01 93.00 93.88 92.36 91.92 43.88 45.68 47.67 49.44 56.58 58.03 59.17 60.53 89.90 90.66 90.89 92.13 110.72 112.36 112.53 114.18 77.58 77.81 78.07 79.07 76.90 77.95 78.87 79.20 76.97 77.84 78.48 79.86 1988:1 II Ill IV .... 80.32 81.27 81.69 82.75 80.72 81.28 81.94 82.89 78.14 78.11 77.03 79.17 82.32 83.06 83.95 84.87 80.20 80.79 81.77 82.44 71.19 72.62 73.03 73.77 71.86 73.12 73.49 74.15 65.65 67.08 67.46 68.25 100.17 102.06 100.84 100.71 55.75 57.04 57.83 58.86 91.61 92.24 92.62 92.82 52.18 53.63 54.60 56.26 60.25 59.52 60.85 62.61 91.43 91.59 91.45 93.33 110.92 109.71 108.79 112.22 79.89 80.86 81.18 82.16 80.47 81.38 81.79 82.84 80.47 81.38 81.75 82.84 April 2000 • SURVEY OF CURRENT BUSINESS 137 Table 2B.—Chain-Type Quantity Indexes for Gross Domestic Product—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Gross private domestic investment Personal consumption expenditures Year and quarter Gross domestic product tfoH in\/ocfrmc XcU INVcoUIJI Total Durable goods Nondurable goods Exports and imports of goods and services Government consumption expenditures and gross investment nt IPresidential Services Total Total Total Structures Equipment and software Residential Exports Imports Total Federal State and local Final sales of domestic product Gross national product 1989:1 II Ill IV .... 83.75 84.21 84.61 84.90 83.19 83.53 84.27 84.57 78.77 79.88 81.54 78.83 85.20 85.25 86.06 86.81 82.90 83.20 83.67 84.47 76.66 75.73 74.78 74.26 74.67 74.77 76.14 74.98 69.28 70.29 72.39 71.34 102.58 101.35 105.20 104.55 59.66 61.27 62.89 61.73 91.62 88.71 87.62 86.16 58.40 60.72 60.72 62.40 61.85 63.02 63.57 64.39 92.78 94.28 95.19 95.67 109.67 112.13 113.19 112.54 82.79 83.71 84.54 85.68 83.42 84.06 84.87 85.06 83.84 84.27 84.70 85.09 1990:1 II Ill IV .... 85.96 86.16 86.00 85.30 85.27 85.51 85.84 85.11 82.20 79.36 78.42 76.05 87.05 87.20 87.41 86.39 84.77 85.82 86.51 86.35 75.16 75.08 73.44 68.37 76.09 74.24 73.61 71.14 72.27 71.09 71.75 70.28 106.69 106.19 105.87 101.03 62.32 60.96 61.89 61.36 87.84 83.79 78.91 73.15 64.73 66.07 65.53 67.09 65.22 66.38 66.49 64.48 97.14 97.38 97.39 98.36 114.34 114.50 113.45 114.34 86.95 87.24 87.85 88.87 86.16 86.05 86.07 85.83 86.11 86.33 86.10 85.72 1991:1 II Ill IV .... 84.87 85.35 85.56 86.02 84.73 85.35 85.62 85.44 73.42 73.65 74.66 73.45 86.33 86.95 87.00 86.33 86.30 87.01 87.24 87.57 65.59 65.08 66.77 69.55 68.70 68.40 68.62 68.89 68.51 68.04 67.56 67.22 98.83 96.29 90.17 88.22 59.72 59.82 60.92 61.04 68.53 68.83 71.32 73.60 66.87 70.15 70.57 73.01 62.58 64.78 66.53 67.35 98.79 99.08 98.66 98.24 115.24 115.39 113.39 111.17 89.02 89.40 89.92 90.56 85.47 85.99 85.94 85.98 85.14 85.45 85.62 86.19 1992:1 II Ill IV .... 86.82 87.63 88.31 89.47 86.77 87.19 87.84 89.09 76.03 76.46 78.21 80.11 87.75 87.61 88.19 89.60 88.58 89.30 89.73 90.75 67.90 72.57 73.40 75.77 69.88 72.68 73.75 76.09 67.11 69.62 70.89 72.83 87.35 87.21 87.76 88.48 61.13 64.36 65.84 68.11 78.20 81.92 82.32 85.94 73.66 74.02 74.45 75.75 67.55 69.58 69.86 71.58 98.99 98.86 99.38 99.42 111.32 111.20 112.55 112.70 91.66 91.52 91.55 91.53 87.23 87.72 88.43 89.58 86.97 87.77 88.41 89.58 1993:1 II Ill IV .... 89.45 89.99 90.39 91.75 89.26 90.15 91.21 92.07 80.36 83.26 85.11 87.58 89.59 90.57 91.37 91.95 91.00 91.40 92.42 93.09 77.64 77.82 77.58 81.73 76.68 77.86 79.06 82.51 73.57 75.22 76.07 79.14 88.26 87.83 87.93 89.54 69.13 71.38 72.43 75.94 86.03 85.73 88.01 92.61 75.66 77.15 75.59 79.42 73.28 75.39 76.12 79.14 98.21 98.32 98.34 98.61 109.03 107.64 107.02 106.72 91.77 92.78 93.19 93.80 89.34 90.05 90.68 91.93 89.65 90.10 90.57 91.71 1994:1 II Ill IV .... 92.53 93.82 94.33 95.49 92.92 93.71 94.41 95.34 88.72 89.49 90.47 93.16 93.09 93.87 94.72 95.71 93.71 94.51 95.07 95.60 85.08 90.01 88.66 92.58 83.69 85.75 86.66 88.89 80.05 81.62 83.07 86.40 85.88 90.16 89.93 90.57 78.20 78.96 80.92 85.06 94.64 98.16 97.41 96.33 79.70 82.95 84.93 87.76 80.66 84.23 86.66 88.75 97.61 97.78 99.68 98.77 103.63 102.56 105.94 102.72 94.04 94.95 95.96 96.42 92.34 93.15 94.03 94.91 92.58 93.81 94.30 95.46 1995:1 II Ill IV .... 95.85 96.03 96.78 97.55 95.69 96.60 97.36 97.99 92.53 93.66 95.81 96.62 96.20 96.90 97.31 98.13 96.07 97.06 97.71 98.20 93.54 90.82 90.05 92.74 90.86 90.29 91.29 93.40 89.66 90.22 90.80 92.89 92.49 93.79 93.72 93.53 88.74 89.06 89.86 92.67 94.42 90.50 92.71 94.89 89.29 90.25 94.02 96.25 90.65 92.04 92.32 93.21 98.97 99.44 99.22 98.00 102.35 102.39 101.66 97.28 96.96 97.68 97.76 98.43 95.43 95.97 97.00 97.68 95.90 96.14 96.69 97.62 1996:1 II Ill IV .... 98.25 99.87 100.37 101.51 98.79 99.85 100.32 101.04 97.61 100.64 100.26 101.50 98.72 99.73 100.29 101.26 99.08 99.74 100.35 100.83 94.33 99.25 103.12 103.30 96.08 99.26 101.56 103.10 95.80 98.46 101.65 104.09 95.95 98.38 100.18 105.49 95.75 98.49 102.15 103.61 96.91 101.56 101.30 100.24 96.80 98.39 99.18 105.64 95.64 98.68 102.05 103.63 98.79 100.59 100.00 100.61 99.53 101.61 99.60 99.26 98.35 99.99 100.24 101.42 98.54 99.87 100.12 101.47 98.36 99.86 100.28 101.49 1997:1 II Ill IV .... 102.63 103.87 104.85 105.63 102.13 102.52 104.12 104.96 104.15 103.76 108.64 109.98 102.22 102.17 103.60 103.67 101.68 102.44 103.50 104.63 106.75 112.18 112.47 114.66 105.07 107.25 110.33 111.43 106.50 109.05 113.18 114.09 107.55 106.46 109.31 110.48 106.13 109.94 114.52 115.32 100.98 102.15 102.30 103.96 107.77 111.83 114.87 115.36 107.43 112.22 116.86 118.35 100.99 102.38 102.80 102.78 98.53 100.87 100.52 99.44 102.45 103.28 104.15 104.76 102.35 103.08 104.49 105.10 102.48 103.77 104.66 105.42 1998:1 II Ill IV .... 107.40 107.98 108.99 110.58 106.45 108.04 109.10 110.35 114.35 117.42 118.62 124.26 105.13 106.85 107.49 108.80 105.59 106.85 108.09 108.50 123.24 121.76 124.82 128.26 117.44 120.95 121.55 125.55 121.03 124.54 124.56 129.06 112.03 113.98 112.05 113.64 124.24 128.33 129.09 134.70 107.43 110.91 113.07 1,15.74 114.91 113.77 113.32 117.68 122.41 126.21 127.81 131.14 102.51 104.02 104.36 105.11 96.92 99.67 99.10 100.05 105.82 106.60 107.47 108.11 106.45 107.79 108.43 110.09 107.21 107.75 108.45 110.13 1999:1 II Ill IV .... 111.58 112.10 113.65 115.67 112.10 113.50 114.86 116.52 127.95 130.76 133.21 137.35 111.15 112.05 113.04 115.12 109.61 111.01 112.36 113.38 129.41 128.74 132.90 136.11 128.30 130.37 132.54 133.40 131.49 133.74 137.23 138.23 111.96 110.44 109.37 109.23 138.74 142.47 147.77 149.22 119.30 120.91 119.75 120.27 116.03 117.17 120.42 123.34 135.07 139.69 144.63 147.68 106.43 106.78 107.97 110.39 99.94 100.46 101.49 105.02 110.27 110.51 111.81 113.56 111.33 112.26 113.51 115.18 111.16 111.68 113.22 114.99 138 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.—Price Indexes for Gross Domestic Product and Gross Domestic Purchases [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Chain-type price indexes Implicit price deflators Private fixed investment Year and quarter Personal consumption expenditures Nonresidential GDP Total Tntal lUldl Durable goods Nondurable goods Services Total Structures Equipment and Residential cnft 5011ware Exports and imports of goods and services Percent change from preceding period for chaintype1 price index*;s Government' Gross domestic purchases Total Federal GNP GDP GNP GDP State and local Gross domestic purchases GNP Exports Imports 1929 12.62 12.38 23.59 13.86 9.97 12.13 14.12 7.41 19.03 7.73 16.60 12.00 8.72 9.45 6.57 12.33 12.61 12.62 12.60 1930 1931 1932 1933 1934 12.13 10.91 9.67 9.42 9.89 11.85 10.57 9.32 8.99 9.41 22.19 19.86 17.60 17.07 18.00 13.13 11.23 9.60 9.54 10.54 9.71 9.08 8.26 7.72 7.56 11.64 10.76 9.51 9.34 9.81 13.46 12.53 11.34 11.13 11.53 7.01 6.41 5.56 5.61 5.63 18.27 17.32 16.34 15.69 16.57 7.56 6.85 5.58 5.50 6.11 15.02 11.82 10.25 10.26 11.89 10.23 8.27 6.63 6.35 7.21 8.45 8.01 7.30 7.54 8.10 9.02 8.95 8.57 8.74 9.31 6.39 6.00 5.40 5.59 6.04 11.82 10.65 9.41 9.15 9.60 12.12 10.90 9.66 9.42 9.89 12.15 10.88 9.61 9.36 9.88 12.14 10.87 9.60 9.35 9.87 -3.9 -10.0 -11.4 -2.6 -4.2 -9.9 -11.6 -2.7 -3.9 -10.0 -11.4 -2.6 4.9 4.9 5.0 1935 1936 1937 1938 1939 10.07 10.19 10.56 10.35 10.21 9.63 9.72 10.07 9.84 9.75 17.90 18.01 18.74 18.80 18.61 10.93 10.96 11.34 10.78 10.60 7.66 7.81 8.09 8.16 8.17 9.86 9.96 10.82 10.96 10.90 11.65 11.63 12.59 12.69 12.55 5.90 5.90 6.70 6.58 6.51 16.42 16.39 17.31 17.72 17.52 6.02 6.32 6.93 7.15 7.20 12.18 12.55 13.30 12.68 12.46 7.33 7.85 8.76 8.09 8.49 8.13 8.41 8.56 8.57 8.38 9.30 10.11 10.24 10.35 10.05 6.07 6.10 6.24 6.20 6.09 9.77 9.90 10.28 10.07 9.96 10.07 10.19 10.55 10.35 10.21 10.07 10.18 10.61 10.30 10.19 10.06 10.18 10.61 10.29 10.18 1.9 1.2 3.6 1.8 1.3 3.8 1.9 1.2 3.6 -1.9 -1.4 -2.0 -1.1 -1.9 -1.4 1940 1941 1942 1943 1944 10.29 10.96 11.86 12.52 12.81 9.83 10.43 11.72 12.80 13.53 18.78 20.13 23.47 25.54 28.61 10.70 11.60 13.51 15.09 15.94 8.22 8.43 8.87 9.32 9.77 11.17 11.99 13.15 13.72 14.18 12.83 13.67 15.11 15.59 15.90 6.61 7.07 7.89 8.57 8.76 17.98 19.11 21.01 21.12 21.51 7.41 8.10 8.70 9.41 10.33 13.49 14.75 17.86 19.56 22.02 9.06 9.57 10.96 11.80 12.39 8.26 8.77 8.82 8.95 8.82 9.61 10.13 9.96 10.04 9.84 6.13 6.53 7.19 7.69 7.98 10.02 10.66 11.51 12.15 12.41 10.29 10.96 11.86 12.51 12.80 10.33 11.03 11.89 12.53 12.81 10.33 11.02 11.89 12.52 12.81 .8 6.5 8.2 5.5 2.3 .6 6.4 8.0 5.5 2.2 .8 6.5 8.2 5.5 2.3 1945 1946 1947 1948 1949 13.15 14.71 16.32 17.26 17.27 14.07 15.07 16.62 17.57 17.44 30.15 31.40 34.23 35.96 36.40 16.62 18.13 20.46 21.68 20.97 10.09 10.55 11.20 11.83 12.15 14.62 16.38 19.22 20.86 21.28 16.30 18.40 21.38 23.22 23.78 9.15 10.25 12.42 13.82 13.77 21.87 24.77 28.00 30.03 31.22 11.03 12.06 14.44 15.65 15.86 21.88 21.17 24.61 25.91 24.34 12.74 14.21 17.02 18.50 17.63 8.95 11.06 11.86 12.35 12.73 9.97 12.69 13.30 13.23 13.84 8.24 9.01 10.10 11.30 11.40 12.76 14.36 15.92 16.86 16.89 13.15 14.70 16.32 17.26 17.26 13.17 14.77 16.35 17.28 17.26 13.16 14.76 16.34 17.28 17.25 1950 1951 1952 1953 1954 17.41 18.60 18.98 19.24 19.45 17.66 18.85 19.23 19.50 19.68 36.60 39.03 39.40 39.09 38.23 21.06 22.80 23.05 22.94 23.02 12.51 13.05 13.57 14.26 14.69 21.75 23.62 24.19 24.40 24.57 24.26 26.58 27.17 27.42 27.67 13.94 15.56 15.96 16.27 16.08 32.00 34.69 35.38 35.49 36.31 16.25 17.42 17.90 18.03 18.10 23.70 26.78 26.98 26.90 26.56 18.73 22.63 21.81 20.88 21.16 12.76 13.65 13.85 14.02 14.33 13.81 14.48 14.50 14.63 14.99 11.49 12.68 13.24 13.51 13.74 17.10 18.31 18.65 18.87 19.10 17.41 18.59 18.98 19.23 19.44 17.45 18.71 19.00 19.25 19.44 1955 1956 1957 1958 1959 19.74 20.41 21.13 21.64 21.88 19.76 20.16 20.77 21.29 21.63 38.08 39.01 40.51 41.28 41.97 22.87 23.19 23.87 24.45 24.60 15.00 15.39 15.83 16.28 16.74 24.97 26.43 27.35 27.46 27.72 28.04 30.24 31.78 32.02 32.44 16.40 17.80 18.56 18.38 18.48 36.64 39.33 41.56 42.37 43.15 18.47 18.95 18.99 18.95 18.99 26.81 27.71 28.76 28.50 28.53 21.05 21.42 21.66 20.76 20.95 14.95 15.79 16.49 16.99 16.99 15.84 16.65 17.38 18.12 17.85 14.00 14.91 15.56 15.76 16.11 19.37 20.02 20.70 21.18 21.41 19.73 20.41 21.12 21.63 21.87 1960 1961 1962 1963 1964 22.19 22.43 22.74 22.99 23.34 22.00 22.23 22.49 22.75 23.07 41.77 41.86 42.05 42.20 42.40 24.95 25.10 25.30 25.59 25.92 17.19 17.51 17.82 18.07 18.40 27.87 27.78 27.81 27.73 27.90 32.59 32.41 32.42 32.43 32.60 18.46 18.35 18.50 18.67 18.94 43.51 43.28 43.08 42.86 42.84 19.12 19.15 19.18 19.02 19.18 28.88 29.29 29.27 29.22 29.42 21.15 21.15 20.90 21.30 21.75 17.19 17.51 17.97 18.39 18.90 17.98 18.25 18.66 19.12 19.75 16.41 16.79 17.32 17.70 18.06 21.71 21.94 22.23 22.50 22.85 1965 1966 1967 1968 1969 23.77 24.45 25.21 26.29 27.59 23.41 24.02 24.62 25.58 26.74 42.03 41.83 42.48 43.89 45.10 26.39 27.26 27.91 28.98 30.32 18.76 19.29 19.86 20.69 21.73 28.39 28.99 29.81 31.02 32.56 32.99 33.49 34.36 35.58 37.07 19.49 20.19 20.82 21.87 23.31 42.91 43.05 44.03 45.24 46.52 19.72 20.44 21.15 22.27 23.81 30.38 31.32 32.56 33.23 34.29 22.06 22.57 22.66 23.00 23.60 19.41 20.20 21.05 22.23 23.56 20.28 20.96 21.60 22.85 24.08 18.56 19.48 20.56 21.66 23.11 1970 1971 1972 1973 1974 29.05 30.52 31.81 33.60 36.60 28.00 29.20 30.22 31.86 35.14 46.09 47.77 48.28 48.98 52.08 31.82 32.80 33.90 36.56 41.82 22.89 24.17 25.22 26.37 28.46 33.96 35.69 37.23 39.30 43.18 38.82 40.67 24.83 26.74 42.08 28.68 30.91 35.15 48.25 49.73 50.37 51.25 55.08 24.58 26.00 27.58 30.03 33.12 35.77 36.98 38.17 43.40 53.68 25.00 26.53 28.40 33.34 47.70 25.44 27.44 29.49 31.67 34.83 25.95 28.20 30.81 32.98 35.80 1975 1976 1977 1978 1979 40.03 42.29 45.02 48.22 52.24 38.01 40.08 42.73 45.78 49.83 56.84 59.99 62.61 66.20 70.60 45.09 46.83 49.61 52.93 58.50 30.80 32.90 35.49 38.31 41.43 48.59 51.42 55.46 60.17 65.65 54.55 57.59 61.54 65.69 71.07 39.34 41.25 44.81 49.15 54.87 63.24 67.02 71.02 74.84 79.67 36.20 38.53 42.41 47.61 52.95 59.24 61.11 63.58 67.48 75.63 51.67 53.22 57.92 62.01 72.62 38.28 40.72 43.55 46.37 50.28 1980 1981 1982 1983 1984 57.05 62.37 66.26 68.87 71.44 55.21 60.08 63.48 66.19 68.63 76.54 81.62 84.76 86.38 87.58 65.31 70.37 72.34 73.89 75.64 45.88 50.58 54.81 58.33 61.35 71.83 78.55 82.91 82.81 83.37 77.39 84.93 89.69 88.93 88.83 59.97 68.31 73.76 71.82 72.42 86.58 92.86 96.60 96.91 96.29 58.68 63.47 66.87 68.40 70.37 83.32 89.41 89.83 90.24 91.13 90.45 95.32 92.10 88.65 87.89 1985 1986 1987 1988 1989 73.69 75.32 77.58 80.22 83.27 70.99 72.72 75.49 78.44 81.86 88.59 89.69 92.21 93.49 95.14 77.30 77.01 79.66 82.34 86.26 64.36 67.31 70.20 73.61 77.12 84.45 86.51 88.12 90.48 92.76 89.57 91.17 92.01 94.17 96.29 74.11 75.54 76.72 79.98 83.10 96.28 97.92 98.53 99.95 101.45 72.18 75.21 78.29 80.99 83.59 88.70 87.33 89.62 94.39 96.15 1990 1991 1992 1993 1994 86.53 89.66 91.85 94.05 96.01 85.63 88.91 91.62 93.81 95.70 96.00 97.39 98.28 99.06 100.56 90.98 93.76 95.20 96.15 96.83 80.95 84.82 88.50 91.57 94.16 94.70 96.14 96.07 97.46 98.92 98.23 99.80 99.29 99.81 100.54 85.77 87.32 87.29 90.22 93.50 102.93 104.48 103.75 103.24 102.98 85.54 86.64 87.69 91.24 94.48 1995 1996 1997 1998 1999 98.10 100.00 101.91 103.11 104.55 97.90 100.00 101.98 102.93 104.57 101.06 100.00 97.79 95.45 93.00 97.93 100.00 101.35 101.40 103.76 97.25 100.00 103.17 105.31 107.51 100.14 100.00 99.95 99.20 99.22 100.93 100.00 99.04 97.22 95.97 97.39 100.00 104.14 107.37 110.21 102.12 100.00 97.37 94.01 91.63 IV 15.92 16.15 16.44 16.78 16.25 16.40 16.71 17.13 33.80 34.10 34.28 34.72 19.97 20.17 20.54 21.17 10.93 11.02 11.30 11.54 18.32 19.05 19.54 19.95 20.49 21.16 21.73 22.13 11.95 12.14 12.58 13.01 1948:1 II Ill IV 16.97 17.16 17.47 17.45 17.32 17.51 17.77 17.70 34.95 35.43 36.71 36.77 21.49 21.70 21.89 21.63 11.60 11.74 11.93 12.04 20.15 20.60 21.23 21.47 22.25 22.89 23.71 24.05 13.35 13.71 14.05 14.17 1947:1 II Ill See footnotes at the end of the table. 43.71 47.95 2.7 2.8 2.7 11.8 11.0 12.5 10.9 11.8 11.0 5.8 0 5.9 .2 5.8 0 17.45 18.70 18.99 19.24 19.43 .8 6.8 2.1 1.3 1.1 1.2 7.1 1.9 1.2 1.2 .9 6.8 2.1 1.3 1.1 19.78 20.45 21.13 21.64 21.88 19.77 20.45 21.12 21.63 21.88 1.5 3.4 3.5 2.4 1.1 1.4 3.4 3.4 2.3 1.1 1.5 3.4 3.5 2.4 1.1 22.18 22.43 22.73 22.99 23.33 22.19 22.44 22.74 23.00 23.34 22.18 22.43 22.74 22.99 23.34 1.4 1.1 1.4 1.1 1.5 1.4 1.1 1.3 1.2 1.6 1.4 1.1 1.4 1.1 1.5 23.26 23.91 24.61 25.66 26.92 23.77 24.45 25.20 26.29 27.58 23.78 24.46 25.21 26.30 27.59 23.77 24.45 25.21 26.29 27.59 1.9 2.8 3.1 4.3 4.9 1.8 2.8 2.9 4.3 4.9 1.9 2.9 3.1 4.3 4.9 25.01 26.79 28.38 30.56 33.94 28.37 29.84 31.17 32.99 36.35 29.05 30.52 31.81 33.60 36.60 29.06 30.52 31.82 33.60 36.62 29.05 5.3 5.4 30.52 5.0 4.2 5.6 9.0 5.2 31.82 33.60 36.62 10.2 5.3 5.1 4.3 5.6 8.9 39.41 42.07 45.33 48.20 51.93 37.26 39.53 42.05 44.83 48.84 39.69 41.93 44.80 48.02 52.26 40.03 42.30 45.03 48.24 52.25 40.03 42.30 45.02 48.23 52.25 40.03 42.31 45.03 48.24 52.26 9.4 5.7 6.4 7.1 8.3 9.2 5.7 6.8 7.2 8.8 9.4 5.7 6.4 7.1 8.3 55.80 61.30 65.43 68.08 71.61 57.45 63.06 67.53 69.95 74.14 54.32 59.71 63.57 66.39 69.36 57.79 63.05 66.71 69.05 71.46 57.06 62.38 66.27 68.89 71.45 57.04 62.37 66.25 68.88 71.44 57.05 62.38 66.26 68.89 71.45 9.2 9.3 6.2 3.9 3.7 10.6 9.1 5.8 3.5 3.5 9.2 9.3 6.2 4.0 3.7 85.02 85.01 90.02 94.46 96.87 73.78 75.08 77.21 79.30 81.89 75.67 76.10 77.03 78.82 81.12 72.07 74.10 77.26 79.60 82.41 73.56 75.22 77.70 80.36 83.45 73.70 75.33 77.58 80.22 83.28 73.69 75.31 77.58 80.21 83.27 73.70 75.32 77.58 80.22 83.28 3.2 2.2 3.0 3.4 3.8 2.9 2.3 3.3 3.4 3.8 3.2 2.2 3.0 3.4 3.8 96.79 98.10 97.82 97.82 98.94 99.43 98.93 99.09 98.18 99.12 85.16 88.04 90.11 92.44 94.84 83.78 87.18 89.83 92.18 94.51 86.16 88.64 90.28 92.59 95.04 86.85 89.81 92.03 94.14 96.06 86.54 89.67 91.84 94.06 96.02 86.51 89.66 91.84 94.05 96.01 86.53 89.67 91.84 94.06 96.02 3.9 3.6 2.4 2.4 2.1 4.1 3.4 2.5 2.3 2.0 3.9 3.6 2.4 2.4 2.1 97.91 100.00 102.68 105.30 109.40 101.29 100.00 98.47 96.19 95.76 101.83 100.00 96.45 91.31 91.64 97.56 100.00 101.87 103.44 106.24 97.21 100.00 101.33 102.42 105.51 97.77 100.00 102.19 104.03 106.67 98.20 100.00 101.61 102.35 103.86 98.11 100.00 101.89 103.09 104.53 98.10 100.00 101.91 103.11 104.61 98.11 100.00 101.89 103.09 104.59 2.2 1.9 1.9 1.2 1.4 2.2 1.8 1.6 .7 1.5 2.2 1.9 1.9 1.2 1.4 26.78 27.91 28.53 28.80 13.62 14.38 14.70 15.07 22.57 24.25 25.49 26.13 15.58 16.69 17.60 18.21 11.90 11.89 11.76 11.87 13.63 13.49 13.07 13.02 9.80 9.95 10.16 10.49 15.57 15.75 16.01 16.35 15.91 16.15 16.44 16.78 16.03 16.16 16.40 16.80 16.02 16.16 16.40 16.79 6"0 4"9 6"i 7.3 8.7 6.7 8.8 7.3 8.7 28.65 29.50 30.72 31.27 15.34 15.50 15.85 15.93 26.27 26.14 25.83 25.41 18.62 18.68 18.49 18.19 12.10 12.21 12.51 12.58 13.11 13.14 13.34 13.34 10.88 11.11 11.52 11.69 16.56 16.76 17.07 17.06 16.97 17.16 17.46 17.45 16.95 17.14 17.49 17.54 16.95 17.14 17.48 17.53 4.6 4.6 7.2 -.4 5.1 5.0 7.6 -.3 4.6 4.6 7.2 -.4 4.5 5.8 April 2000 • SURVEY OF CURRENT BUSINESS 139 Table 3.—Price Indexes for Gross Domestic Product and Gross Domestic Purchases—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Chain-type price indexes Implic t price defl ators Private fixed investment Year and quarter Nonresidential Personal consumption expenditures GDP Total Total Durable goods Nondurable goods Services Total Structures Equipment and software Residential Govemmen Exports and imports of goods and services Imports 1 Gross domestic purchases Total Exports Federal Percent change rom preceding period for type price index es GNP GDP GNP GDP State and local Gross domestic purchases GNP 1949:1 II Ill IV 17.42 17.31 17.16 17.17 17.57 17.46 17.37 17.36 36.75 36.55 36.12 36.18 21.32 21.05 20.82 20.69 12.06 12.10 12.17 12.28 21.44 21.41 21.17 21.09 23.89 23.85 23.75 23.61 13.95 13.75 13.68 13.71 31.22 31.40 31.29 30.95 16.07 16.04 15.67 15.67 24.98 24.50 24.09 23.80 17.83 17.62 17.52 17.55 12.85 12.75 12.59 12.72 13.92 13.90 13.62 13.93 11.57 11.37 11.35 11.29 17.03 16.93 16.80 16.82 17.41 17.30 17.16 17.17 17.45 17.25 17.15 17.17 17.44 17.25 17.15 17.17 -0.7 -2.6 -3.2 .2 -0.7 -2.3 -3.0 .5 -0.7 -2.5 -3.2 .2 1950:1 II Ill IV 17.11 17.19 17.53 17.82 17.34 17.43 17.79 18.09 36.00 36.35 36.78 37.28 20.56 20.67 21.27 21.72 12.37 12.40 12.56 12.71 21.08 21.43 22.04 22.44 23.62 23.86 24.37 25.18 13.67 13.63 13.93 14.53 31.03 31.57 32.25 33.14 15.65 16.06 16.67 16.64 23.44 23.49 23.71 24.16 17.95 18.30 18.88 19.77 12.64 12.60 12.80 12.98 13.89 13.73 13.79 13.83 11.18 11.26 11.59 11.93 16.78 16.87 17.22 17.52 17.10 17.18 17.53 17.81 17.12 17.19 17.56 17.89 17.12 17.18 17.55 17.89 -1.5 1.9 8.3 6.6 -.9 2.2 8.7 7.1 -1.5 1.9 8.3 6.6 1951:1 II Ill IV 18.44 18.53 18.59 18.83 18.67 18.81 18.83 19.07 38.74 38.94 38.99 39.46 22.65 22.81 22.74 23.02 12.87 12.98 13.08 13.27 23.21 23.56 23.74 23.98 26.05 26.50 26.75 27.02 15.12 15.49 15.74 15.88 34.18 34.62 34.79 35.18 17.18 17.38 17.48 17.64 25.56 26.51 27.29 27.74 21.38 22.55 23.24 23.35 13.65 13.52 13.63 13.80 14.68 14.33 14.36 14.55 12.36 12.57 12.80 12.97 18.15 18.25 18.30 18.53 18.43 18.52 18.58 18.82 18.57 18.68 18.68 18.89 18.56 18.67 18.68 18.88 14.7 2.0 1.3 5.2 15.1 2.2 1.2 4.9 14.6 2.0 1.3 5.2 1952:1 II Ill IV 18.82 18.91 19.06 19.14 19.15 19.16 19.29 19.33 39.75 39.33 39.78 38.75 23.04 22.98 23.05 23.13 13.36 13.49 13.65 13.79 24.10 24.20 24.25 24.20 27.17 27.21 27.15 27.15 16.01 15.96 15.92 15.96 35.31 35.47 35.39 35.35 17.73 17.88 18.05 17.94 27.11 27.00 26.93 26.87 22.37 21.99 21.61 21.27 13.57 13.78 13.94 14.11 14.19 14.43 14.55 14.81 12.99 13.15 13.42 13.40 18.51 18.59 18.73 18.79 18.82 18.90 19.05 19.13 18.85 18.88 19.11 19.16 18.84 18.88 19.10 19.15 -.1 1.9 3.2 1.6 -.3 1.7 3.0 1.4 -.1 1.9 3.2 1.6 1953:1 II Ill IV 19.16 19.20 19.27 19.33 19.40 19.43 19.54 19.63 39.16 39.19 38.93 39.06 23.00 22.90 22.95 22.94 14.00 14.15 14.36 14.53 24.21 24.35 24.54 24.49 27.16 27.39 27.59 27.56 16.00 16.23 16.45 16.42 35.30 35.47 35.60 35.57 17.95 17.97 18.13 18.05 27.01 26.95 26.87 26.78 21.05 20.87 20.79 20.80 14.02 14.03 13.97 14.05 14.61 14.64 14.56 14.68 13.54 13.51 13.50 13.48 18.80 18.83 18.90 18.97 19.15 19.19 19.26 19.33 19.17 19.20 19.28 19.33 19.17 19.19 19.27 19.32 .4 .8 1.5 1.4 .1 .7 1.4 1.5 .4 .8 1.4 1.4 1954:1 II Ill IV 19.42 19.45 19.45 19.47 19.73 19.71 19.65 19.63 39.38 38.37 37.70 37.46 23.01 23.11 23.02 22.92 14.63 14.65 14.70 14.79 24.50 24.60 24.59 24.61 27.66 27.80 27.59 27.64 16.19 16.03 16.03 16.05 36.10 36.67 36.20 36.26 17.96 18.01 18.22 18.21 26.64 26.56 26.52 26.52 21.06 21.15 21.21 21.21 14.16 14.26 14.39 14.51 14.87 14.87 15.04 15.18 13.45 13.76 13.83 13.91 19.07 19.10 19.10 19.13 19.41 19.44 19.44 19.47 19.40 19.41 19.45 19.50 19.39 19.40 19.44 19.49 1.9 .6 -.1 .5 2.2 .7 0 .5 1.9 .6 -.1 .6 1955:1 II Ill IV 19.55 19.66 19.80 19.93 19.70 19.72 19.79 19.85 37.73 37.92 38.28 38.39 22.92 22.85 22.87 22.85 14.88 14.95 15.04 15.15 24.61 24.78 25.08 25.42 27.55 27.72 28.15 28.76 16.09 16.23 16.45 16.82 36.02 36.18 36.80 37.56 18.29 18.45 18.57 18.58 26.60 26.72 26.86 27.05 21.05 21.03 21.03 21.08 14.61 14.88 15.06 15.24 15.40 15.83 15.96 16.15 13.79 13.85 14.08 14.26 19.19 19.30 19.43 19.56 19.54 19.66 19.79 19.93 19.59 19.67 19.82 20.02 19.58 19.67 19.81 20.01 1.5 2.4 2.8 2.7 1.3 2.3 2.7 2.6 1.5 2.4 2.8 2.7 1956:1 II Ill IV 20.13 20.32 20.54 20.67 19.93 20.06 20.26 20.38 38.52 38.60 39.20 39.74 22.90 23.12 23.34 23.41 15.26 15.33 15.44 15.54 25.95 26.23 26.68 26.88 29.57 29.81 30.57 30.99 17.57 17.51 17.98 18.15 38.23 38.84 39.79 40.45 18.74 19.02 19.05 18.97 27.27 27.55 27.86 28.17 21.23 21.36 21.48 21.61 15.51 15.76 15.92 15.99 16.38 16.67 16.77 16.78 14.59 14.80 15.05 15.21 19.75 19.93 20.15 20.26 20.12 20.31 20.54 20.66 20.22 20.33 20.59 20.67 20.21 20.33 20.59 20.66 3.9 3.9 4.5 2.5 3.9 3.8 4.4 2.4 3.9 3.9 4.5 2.5 1957: I II Ill IV 20.91 21.05 21.21 21.33 20.56 20.69 20.86 20.96 40.07 40.65 40.63 40.69 23.64 23.77 24.01 24.07 15.67 15.75 15.88 16.03 27.13 27.26 27.45 27.58 31.46 31.65 31.88 32.15 18.33 18.57 18.69 18.68 41.22 41.26 41.58 42.19 18.91 18.96 19.09 19.02 28.56 28.77 28.86 28.86 21.76 21.76 21.65 21.47 16.30 16.44 16.55 16.65 17.21 17.29 17.42 17.61 15.36 15.58 15.66 15.64 20.49 20.63 20.78 20.89 20.90 21.05 21.21 21.32 20.96 21.10 21.23 21.23 20.96 21.10 21.22 21.23 4.7 2.8 3.1 2.2 4.6 2.6 3.0 2.1 4.7 2.8 3.1 2.2 1958: I II Ill IV 21.52 21.62 21.69 21.74 21.23 21.28 21.32 21.34 41.44 41.28 41.26 41.15 24.47 24.52 24.45 24.37 16.13 16.20 16.33 16.47 27.34 27.46 27.50 27.55 31.82 32.01 32.08 32.16 18.24 18.36 18.43 18.48 42.14 42.38 42.43 42.52 18.93 18.95 18.95 18.96 28.61 28.50 28.45 28.44 21.01 20.80 20.66 20.58 16.77 16.95 17.07 17.16 17.86 18.07 18.21 18.33 15.60 15.73 15.82 15.88 21.06 21.16 21.22 21.27 21.51 21.61 21.68 21.73 21.47 21.55 21.70 21.82 21.46 21.54 21.69 21.81 3.6 1.9 1.2 .9 3.4 1.8 1.2 .9 3.6 1.9 1.2 1.0 1959: I || III IV 21.79 21.84 21.90 21.99 21.48 21.56 21.68 21.80 41.82 42.02 42.03 42.01 24.46 24.52 24.65 24.75 16.57 16.65 16.78 16.94 27.58 27.70 27.78 27.82 32.20 32.40 32.55 32.61 18.36 18.47 18.54 18.55 42.79 43.07 43.31 43.41 18.98 18.99 18.99 19.00 28.45 28.39 28.49 28.78 20.91 20.88 20.91 21.10 17.07 17.02 16.92 16.96 18.01 17.90 17.72 17.77 16.08 16.11 16.11 16.15 21.33 21.37 21.43 21.52 21.78 21.83 21.89 21.99 21.83 21.83 21.88 21.98 21.82 21.83 21.88 21.98 .9 .9 1.2 1.7 1.2 .9 1.1 1.7 .9 .9 1.1 1.7 1960: I II Ill IV 22.04 22.14 22.23 22.33 21.84 21.96 22.04 22.15 41.92 41.84 41.69 41.62 24.76 24.92 24.99 25.12 17.02 17.13 17.25 17.36 27.86 27.91 27.89 27.81 32.64 32.65 32.62 32.45 18.62 18.51 18.42 18.29 43.38 43.57 43.63 43.46 19.06 19.13 19.13 19.15 28.88 28.84 28.96 28.86 21.08 21.11 21.23 21.17 17.02 17.08 17.26 17.41 17.75 17.81 18.06 18.29 16.30 16.38 16.45 16.51 21.57 21.66 21.76 21.86 22.03 22.13 22.23 22.33 22.08 22.15 22.23 22.30 22.07 22.15 22.23 22.29 .9 1.7 1.8 1.8 .8 1.8 1.8 1.9 .9 1.7 1.8 1.8 1961:1 II Ill IV 22.36 22.40 22.45 22.51 22.19 22.19 22.27 22.29 41.62 41.83 42.02 41.97 25.17 25.04 25.10 25.08 17.41 17.48 17.55 17.61 27.79 27.81 27.76 27.76 32.47 32.44 32.35 32.37 18.29 18.33 18.35 18.42 43.51 43.39 43.13 43.08 19.09 19.17 19.17 19.16 28.99 29.38 29.30 29.52 21.19 21.16 21.13 21.12 17.40 17.49 17.52 17.64 18.22 18.26 18.21 18.32 16.59 16.74 16.85 16.99 21.88 21.91 21.96 22.01 22.36 22.40 22.45 22.50 22.35 22.40 22.46 22.53 22.34 22.39 22.45 22.53 .5 .7 .9 1.0 .4 .5 .9 .9 .5 .7 .9 1.0 1962: I II Ill IV 22.64 22.71 22.77 22.84 22.38 22.47 22.53 22.59 41.98 42.07 42.17 42.00 25.18 25.26 25.31 25.44 17.71 17.79 17.86 17.91 27.80 27.83 27.81 27.78 32.41 32.46 32.44 32.39 18.45 18.52 18.49 18.55 43.12 43.13 43.13 42.93 19.19 19.19 19.18 19.15 29.50 29.19 29.17 29.21 20.88 20.92 20.84 20.95 17.84 17.91 17.99 18.14 18.51 18.58 18.68 18.87 17.21 17.29 17.32 17.43 22.13 22.20 22.26 22.34 22.64 22.70 22.76 22.84 22.67 22.71 22.76 22.83 22.67 22.70 22.75 22.83 2.4 1.1 1.1 1.4 2.2 1.3 1.0 1.4 2.4 1.1 1.1 1.4 1963:1 II Ill IV 22.93 22.95 22.98 23.12 22.66 22.69 22.79 22.87 42.01 42.13 42.25 42.40 25.49 25.49 25.66 25.72 17.99 18.03 18.09 18.18 27.80 27.75 27.65 27.72 32.44 32.42 32.44 32.44 18.61 18.65 18.70 18.72 42.95 42.85 42.82 42.80 19.16 19.08 18.87 18.99 29.30 29.25 29.16 29.18 21.14 21.23 21.36 21.48 18.30 18.35 18.31 18.61 19.05 19.07 18.95 19.40 17.58 17.67 17.71 17.85 22.42 22.45 22.49 22.63 22.92 22.94 22.97 23.11 22.91 22.94 22.98 23.16 22.90 22.93 22.97 23.15 1.4 .3 .6 2.5 1.6 .4 .8 2.6 1.4 .3 .6 2.5 1964:1 II Ill IV 23.20 23.27 23.39 23.49 22.98 23.02 23.10 23.18 42.49 42.42 42.39 42.31 25.85 25.86 25.93 26.02 18.26 18.35 18.44 18.54 27.62 27.87 27.90 28.21 32.44 32.59 32.60 32.78 18.70 18.90 18.93 19.23 42.82 42.86 42.86 42.83 18.82 19.12 19.18 19.59 29.25 29.22 29.45 29.77 21.67 21.78 21.75 21.82 18.74 18.81 19.01 19.04 19.56 19.62 19.92 19.91 17.93 18.02 18.10 18.18 22.72 22.79 22.90 22.99 23.19 23.27 23.38 23.49 23.22 23.28 23.37 23.49 23.22 23.27 23.37 23.48 1.4 1.2 2.0 1.8 1.5 1.3 1.8 1.7 1.4 1.2 2.0 1.8 1965:1 II Ill IV 23.60 23.71 23.81 23.97 23.26 23.38 23.47 23.54 42.35 42.16 41.93 41.66 26.12 26.34 26.50 26.59 18.62 18.70 18.80 18.91 28.24 28.29 28.34 28.68 32.84 32.91 33.01 33.18 19.26 19.40 19.45 19.84 42.90 42.87 43.01 42.85 19.58 19.60 19.58 20.13 30.47 30.38 30.40 30.28 21.99 21.90 22.05 22.28 19.18 19.27 19.45 19.76 20.01 20.08 20.29 20.75 18.36 18.47 18.63 18.78 23.08 23.19 23.30 23.46 23.60 23.70 23.81 23.97 23.61 23.71 23.81 23.97 23.60 23.71 23.80 23.97 1.9 1.8 1.8 2.6 1.6 1.8 1.9 2.9 1.9 1.8 1.8 2.6 1966:1 II Ill IV 24.11 24.33 24.57 24.79 23.73 23.92 24.11 24.30 41.59 41.73 41.91 42.07 26.92 27.16 27.38 27.58 19.03 19.20 19.37 19.56 28.52 29.03 29.03 29.39 33.12 33.46 33.54 33.85 19.78 20.22 20.25 20.51 42.80 42.94 43.07 43.38 19.84 20.57 20.44 20.89 30.79 31.05 31.44 32.01 22.39 22.63 22.56 22.70 19.87 20.02 20.41 20.53 20.72 20.71 21.21 21.21 19.04 19.36 19.63 19.88 23.59 23.81 24.03 24.22 24.11 24.33 24.57 24.78 24.13 24.32 24.58 24.79 24.12 24.32 24.58 24.79 2.4 3.8 4.0 3.5 2.1 3.8 3.7 3.3 2.4 3.8 4.0 3.5 1967: I II Ill IV 24.90 25.06 25.29 25.57 24.36 24.48 24.71 24.92 41.96 42.17 42.67 43.13 27.64 27.74 28.02 28.23 19.66 19.78 19.92 20.10 29.52 29.66 29.85 30.22 34.03 34.21 34.44 34.77 20.60 20.71 20.85 21.14 43.63 43.87 44.15 44.47 20.93 21.00 21.12 21.53 32.60 32.51 32.47 32.65 22.72 22.63 22.63 22.65 20.67 20.90 21.16 21.48 21.19 21.44 21.69 22.08 20.20 20.42 20.70 20.94 24.32 24.47 24.70 24.96 24.90 25.06 25.29 25.57 24.89 25.05 25.31 25.59 24.89 25.04 25.31 25.59 1.9 2.5 3.8 4.4 1.6 2.5 3.8 4.3 1.9 2.5 3.8 4.4 1968:1 II Ill IV 25.86 26.15 26.39 26.76 25.19 25.44 25.70 25.99 43.41 43.67 44.03 44.44 28.53 28.82 29.12 29.44 20.36 20.58 20.80 21.04 30.53 30.83 31.01 31.72 35.03 35.38 35.68 36.24 21.43 21.71 21.89 22.44 44.64 45.03 45.41 45.88 21.89 22.10 22.11 22.98 32.87 33.57 33.13 33.35 22.81 22.98 23.03 23.19 21.78 22.05 22.35 22.72 22.36 22.65 23.04 23.36 21.26 21.52 21.72 22.15 25.24 25.51 25.77 26.13 25.86 26.15 26.39 26.76 25.88 26.14 26.39 26.76 25.87 26.14 26.39 26.76 4.6 4.5 3.8 5.7 4.6 4.2 4.1 5.7 4.6 4.5 3.8 5.7 See footnotes at the end of the table. 140 • April 2000 SURVEY OF CURRENT BUSINESS Table 3.—Price Indexes for Gross Domestic Product and Gross Domestic Purchases—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Chain-type price ndexes Implicit price deflators Private fixed investment Year and quarter Nonresidential Personal consumption expenditures GDP Total Total NonDurable durable goods goods Total Services Structures Equipment and software Residential Governmentl Exports and imports of goods and services Gross domestic purchases Total Exports Imports Percent change from preceding period for c a type price index 3S Federal GNP GDP GNP GDP State and local Gross domestic purchases GNP 1969:1 II Ill IV 27.02 27.39 27.79 28.15 26.24 26.58 26.91 27.23 44.67 45.00 45.22 45.50 29.69 30.11 30.55 30.93 21.30 21.59 21.87 22.15 32.06 32.40 32.67 33.10 36.51 36.84 37.22 37.68 22.76 23.13 23.44 23.89 46.05 46.28 46.68 47.06 23.42 23.76 23.85 24.21 33.82 33.85 34.33 35.15 23.29 23.39 23.56 24.17 22.88 23.30 23.84 24.22 23.37 23.75 24.42 24.77 22.46 22.91 23.32 23.75 26.37 26.73 27.11 27.46 27.02 27.38 27.78 28.14 27.03 27.39 27.79 28.15 27.03 27.38 27.79 28.15 3.9 5.5 6.0 5.3 3.8 5.6 5.8 5.3 3.9 5.5 6.0 5.3 1970:1 II Ill IV 28.54 28.94 29.17 29.55 27.54 27.85 28.12 28.50 45.59 45.76 46.09 46.93 31.35 31.71 31.95 32.25 22.44 22.72 23.01 23.38 33.35 34.10 34.00 34.40 38.08 38.74 38.97 39.50 24.13 24.88 24.95 25.35 47.59 48.03 48.40 48.98 24.19 25.09 24.42 24.62 35.28 35.99 35.85 35.97 24.42 24.70 25.31 25.56 24.84 25.24 25.67 26.04 25.46 25.73 26.16 26.45 24.30 24.81 25.25 25.69 27.85 28.24 28.51 28.89 28.53 28.94 29.17 29.55 28.55 28.94 29.18 29.56 28.54 28.94 29.17 29.56 5.6 5.8 3.2 5.3 5.8 5.6 3.9 5.5 5.6 5.8 3.2 5.3 1971:1 II Ill IV 30.00 30.40 30.71 30.96 28.77 29.10 29.38 29.57 47.64 47.99 47.85 47.58 32.36 32.68 32.98 33.19 23.68 24.01 24.36 24.60 35.00 35.52 35.95 36.28 40.05 40.55 40.92 41.17 25.89 26.48 27.06 27.54 49.46 49.78 49.85 49.82 25.28 25.79 26.27 26.68 37.01 37.05 36.81 37.05 26.20 26.29 26.62 27.01 26.76 27.26 27.66 28.08 27.38 27.95 28.42 29.06 26.23 26.67 27.01 27.24 29.31 29.71 30.04 30.30 29.99 30.40 30.71 30.96 30.00 30.40 30.71 30.96 30.00 30.40 30.71 30.96 6.1 5.5 4.1 3.3 6.0 5.5 4.6 3.5 6.1 5.5 4.1 3.3 1972:1 II Ill IV 31.42 31.61 31.92 32.30 29.89 30.07 30.33 30.59 48.00 48.28 48.51 48.33 33.54 33.68 33.99 34.38 24.89 25.09 25.33 25.56 36.74 36.97 37.34 37.88 41.66 41.96 42.22 42.47 28.08 28.43 28.82 29.38 50.20 50.40 50.50 50.40 27.05 27.18 27.63 28.47 37.63 37.93 38.10 39.03 27.47 28.19 28.65 29.29 28.89 29.20 29.64 30.23 30.22 30.46 30.90 31.65 27.76 28.12 28.57 29.04 30.76 30.98 31.30 31.67 31.42 31.61 31.92 32.30 31.41 31.61 31.92 32.32 31.41 31.61 31.92 32.32 6.1 2.5 4.0 4.8 6.1 2.9 4.2 4.8 6.1 2.5 3.9 4.8 1973:1 II Ill IV 32.73 33.27 33.90 34.48 30.96 31.56 32.13 32.78 48.55 48.92 49.15 49.31 35.05 36.06 36.98 38.16 25.78 26.16 26.57 26.98 38.25 38.93 39.76 40.26 42.80 43.42 44.08 44.54 29.81 30.45 31.29 32.06 50.60 51.13 51.56 51.70 28.85 29.56 30.57 31.11 40.19 42.04 44.51 46.86 30.16 32.53 34.06 36.60 30.84 31.39 31.93 32.53 32.14 32.62 33.28 33.88 29.73 30.33 30.79 31.39 32.09 32.69 33.29 33.91 32.73 33.27 33.91 34.49 32.71 33.25 33.86 34.58 32.71 33.25 33.86 34.58 5.4 6.8 7.9 7.0 5.4 7.7 7.6 7.6 5.4 6.8 7.8 7.0 1974:1 II III IV 35.18 35.97 37.07 38.20 33.75 34.69 35.60 36.49 49.78 50.99 52.96 54.60 39.93 41.29 42.44 43.61 27.53 28.17 28.77 29.38 41.01 42.20 43.87 45.65 45.31 46.75 48.74 50.98 32.91 34.34 35.93 37.44 52.33 53.65 55.83 58.51 31.81 32.56 33.61 34.52 50.18 51.92 54.89 57.75 42.41 47.28 49.73 51.36 33.26 34.19 35.35 36.50 34.37 35.08 36.21 37.56 32.28 33.37 34.55 35.55 34.80 35.79 36.87 37.93 35.18 35.96 37.06 38.19 35.20 36.02 37.09 38.20 35.20 36.02 37.08 38.19 8.4 9.2 12.8 12.7 10.9 11.9 12.7 12.0 8.3 9.2 12.8 12.7 1975:1 II Ill IV 39.08 39.63 40.35 41.05 37.17 37.62 38.31 38.93 55.48 56.56 57.20 58.11 44.27 44.53 45.46 46.11 30.04 30.50 31.05 31.62 47.28 48.40 48.97 49.71 52.98 54.36 55.04 55.81 38.53 39.23 39.56 40.03 61.15 63.00 63.93 64.90 35.40 36.02 36.36 37.02 59.41 59.18 59.02 59.36 52.13 52.27 51.10 51.17 37.27 37.93 38.55 39.36 38.41 38.92 39.62 40.70 36.26 37.02 37.58 38.19 38.76 39.33 39.99 40.67 39.07 39.62 40.35 41.05 39.08 39.63 40.33 41.05 39.08 39.63 40.33 41.05 9.6 5.8 7.5 7.1 9.0 6.0 7.0 6.9 9.6 5.8 7.6 7.1 1976:1 II Ill IV 41.49 41.93 42.51 43.25 39.34 39.68 40.31 40.97 58.89 59.56 60.26 61.27 46.28 46.41 47.02 47.62 32.12 32.53 33.15 33.80 50.20 51.08 51.80 52.61 56.46 57.17 57.94 58.80 40.26 40.99 41.59 42.18 65.86 66.50 67.34 68.37 37.23 38.32 38.94 39.63 60.18 60.83 61.16 62.26 52.02 52.80 53.75 54.31 39.89 40.40 40.91 41.66 41.12 41.55 42.25 43.34 38.78 39.35 39.74 40.24 41.11 41.56 42.18 42.88 41.49 41.94 42.52 43.25 41.50 41.92 42.50 43.27 41.50 41.92 42.51 43.28 4.3 4.3 5.6 7.1 4.4 4.5 6.1 6.8 4.4 4.3 5.7 7.1 1977:1 II Ill IV 43.97 44.69 45.32 46.08 41.69 42.44 43.08 43.70 61.82 62.15 62.82 63.66 48.48 49.41 49.98 50.56 34.46 35.17 35.87 36.47 53.76 54.79 56.03 57.24 60.03 60.96 62.03 63.12 43.49 44.28 45.27 46.21 69.46 70.44 71.52 72.66 40.57 41.68 43.05 44.35 62.95 63.89 63.58 63.88 56.21 57.78 58.55 59.15 42.52 43.19 43.73 44.75 44.40 44.97 45.25 46.69 40.97 41.70 42.41 43.14 43.68 44.45 45.14 45.92 43.98 44.70 45.33 46.09 43.97 44.69 45.23 46.16 43.97 44.71 45.25 46.17 6.9 6.7 5.8 6.9 7.7 7.2 6.4 7.0 6.8 6.8 5.8 6.9 1978:1 II Ill IV 46.86 47.79 48.64 49.62 44.44 45.39 46.21 47.07 64.63 65.62 66.68 67.85 51.28 52.53 53.47 54.43 37.19 37.96 38.68 39.42 58.34 59.58 60.76 62.00 64.02 65.13 66.23 67.40 47.21 48.53 49.74 51.10 73.44 74.35 75.31 76.27 45.66 47.02 48.24 49.51 65.17 66.79 67.86 70.08 60.15 61.60 62.61 63.70 45.33 45.97 46.67 47.52 47.21 47.68 48.36 49.54 43.75 44.52 45.21 45.84 46.67 47.60 48.45 49.37 46.86 47.80 48.65 49.63 46.86 47.77 48.60 49.59 46.87 47.78 48.61 49.60 6.9 8.2 7.3 8.3 6.8 8.2 7.3 7.8 6.9 8.2 7.3 8.3 1979:1 II Ill IV 50.58 51.73 52.79 53.86 48.04 49.21 50.42 51.67 68.98 70.19 70.99 72.25 55.90 57.70 59.44 60.99 40.09 40.89 41.85 42.92 63.29 64.93 66.51 67.86 68.84 70.37 71.86 73.20 52.54 54.13 55.81 57.00 77.64 79.05 80.31 81.69 50.48 52.22 53.89 55.20 72.15 75.11 76.90 78.35 66.18 69.62 74.84 79.84 48.47 49.47 50.86 52.34 50.24 51.10 52.11 54.26 46.94 48.04 49.68 50.70 50.38 51.58 52.89 54.20 50.60 51.75 52.81 53.87 50.55 51.71 52.81 53.90 50.56 51.72 52.82 53.90 8.0 9.4 8.5 8.3 8.4 9.9 10.5 10.3 8.0 9.4 8.4 8.3 1980:1 II Ill IV..... 55.08 56.35 57.62 59.16 53.26 54.60 55.86 57.13 74.30 75.96 77.30 78.62 63.18 64.65 66.00 67.43 44.09 45.30 46.50 47.65 69.45 71.07 72.61 74.20 74.85 76.60 78.24 79.89 57.99 59.18 60.43 62.30 83.76 85.86 87.69 89.02 56.65 57.98 59.31 60.77 80.66 81.76 84.03 86.82 86.47 89.61 92.09 93.64 53.60 55.03 56.27 58.31 55.24 56.59 57.52 60.44 52.13 53.61 55.08 56.47 55.73 57.14 58.43 59.89 55.09 56.35 57.63 59.17 55.11 56.34 57.60 59.13 55.12 56.35 57.61 59.14 9.4 9.5 9.4 11.1 11.8 10.5 9.3 10.4 9.4 9.5 9.4 11.1 1981:1 II Ill IV 60.67 61.75 62.95 64.10 58.55 59.55 60.62 61.59 79.62 81.15 82.33 83.37 69.33 70.09 70.75 71.30 48.85 49.90 51.19 52.38 76.21 77.93 79.25 80.82 82.19 84.23 85.76 87.56 65.03 67.31 69.24 71.65 90.76 92.46 93.55 94.67 62.10 63.08 63.88 64.82 88.98 89.32 89.51 89.83 96.11 96.67 94.15 94.36 59.76 60.83 61.56 63.04 61.46 62.38 63.06 65.32 58.23 59.40 60.16 61.05 61.42 62.53 63.56 64.70 60.68 61.77 62.96 64.11 60.66 61.76 62.95 64.10 60.67 61.77 62.97 64.11 10.6 7.3 8.0 7.5 10.7 7.4 6.7 7.4 10.6 7.4 8.0 7.5 1982:1 II Ill IV 65.00 65.84 66.75 67.44 62.36 62.98 63.95 64.64 84.08 84.74 84.99 85.22 71.74 71.86 72.79 72.97 53.34 54.23 55.32 56.36 81.85 82.88 83.38 83.51 88.63 89.70 90.17 90.25 73.18 73.93 74.14 73.78 95.20 96.46 97.13 97.59 65.77 66.75 67.31 67.63 90.30 90.26 89.64 89.14 94.05 92.42 91.32 90.62 64.13 65.02 65.82 66.76 66.40 67.15 67.72 68.83 62.12 63.13 64.10 64.91 65.56 66.29 67.16 67.83 65.01 65.85 66.76 67.44 64.99 65.83 66.75 67.45 65.00 65.84 66.76 67.46 5.8 5.3 5.6 4.2 5.4 4.6 5.4 4.0 5.8 5.2 5.6 4.2 1983:1 II Ill IV 67.98 68.59 69.17 69.75 65.14 65.90 66.58 67.15 85.82 86.11 86.53 87.07 72.94 73.81 74.35 74.46 57.16 57.92 58.71 59.54 83.06 82.75 82.65 82.77 89.50 88.98 88.68 88.56 72.50 71.74 71.57 71.46 97.35 97.06 96.67 96.55 67.96 68.12 68.46 69.07 89.51 89.84 90.35 91.26 88.71 88.71 88.88 88.31 67.22 67.83 68.43 68.85 69.26 69.76 70.29 70.51 65.38 66.08 66.74 67.34 68.22 68.80 69.35 69.83 67.99 68.61 69.18 69.77 67.95 68.56 69.16 69.77 67.96 68.57 69.18 69.79 3.3 3.6 3.4 3.4 2.3 3.5 3.2 2.8 3.3 3.7 3.4 3.4 1984:1 II Ill IV 70.59 71.18 71.74 72.24 67.81 68.40 68.90 69.40 87.04 87.59 87.75 87.93 75.30 75.47 75.72 76.05 60.22 61.05 61.75 62.39 82.88 83.28 83.54 83.77 88.54 88.85 88.93 89.01 71.55 72.26 72.71 73.14 96.44 96.44 96.23 96.05 69.48 70.03 70.71 71.25 91.36 91.97 91.07 90.13 88.58 89.07 87.49 86.41 70.71 71.35 71.91 72.47 73.38 73.93 74.40 74.87 68.35 69.05 69.71 70.33 70.67 71.25 71.72 72.18 70.60 71.19 71.75 72.25 70.59 71.16 71.73 72.24 70.60 71.17 71.74 72.25 4.9 3.4 3.2 2.8 4.9 3.3 2.7 2.5 4.9 3.3 3.2 2.8 1985:1 II Ill IV 73.01 73.49 73.88 74.40 70.09 70.75 71.23 71.91 88.40 88.65 88.54 88.77 76.63 77.16 77.40 78.01 63.20 64.00 64.72 65.52 84.05 84.16 84.54 85.05 89.25 89.34 89.68 90.03 73.68 73.86 74.25 74.67 96.05 96.07 96.35 96.64 71.61 71.77 72.26 73.09 89.24 89.05 88.34 88.17 84.36 84.72 84.66 86.34 73.20 73.58 73.82 74.53 75.52 75.56 75.43 76.17 71.13 71.78 72.36 73.02 72.80 73.32 73.73 74.38 73.01 73.50 73.89 74.41 73.00 73.50 73.85 74.39 73.01 73.50 73.86 74.40 4.3 2.7 2.1 2.9 3.5 2.8 2.3 3.6 4.3 2.7 2.1 2.9 1986:1 II Ill IV 74.69 75.04 75.51 76.05 72.30 72.33 72.86 73.40 88.81 89.30 90.08 90.55 77.80 76.44 76.76 77.04 66.31 67.01 67.61 68.31 85.45 86.13 86.95 87.52 90.20 90.86 91.60 92.00 74.97 75.37 75.71 76.10 96.73 97.54 98.51 98.90 73.97 74.68 75.65 76.53 87.64 87.26 86.85 87.56 86.52 83.82 84.36 85.33 74.62 74.79 75.13 75.76 76.02 76.10 76.08 76.21 73.32 73.57 74.22 75.27 74.71 74.85 75.37 75.94 74.69 75.05 75.52 76.06 74.68 75.05 75.51 76.01 74.69 75.05 75.51 76.02 1.5 1.9 2.5 2.9 1.8 .7 2.9 3.0 1.5 1.9 2.5 2.9 1987:1 II Ill IV 76.73 77.27 77.83 78.46 74.37 75.14 75.86 76.61 91.31 91.96 92.62 92.95 78.55 79.36 80.10 80.65 69.03 69.80 70.52 71.46 87.75 87.90 88.06 88.79 91.94 91.86 91.76 92.50 76.12 76.41 76.80 77.55 98.78 98.48 98.08 98.78 77.34 77.93 78.59 79.30 88.02 89.40 89.73 91.33 87.54 89.77 90.67 92.10 76.48 77.00 77.55 77.82 76.82 76.96 77.15 77.19 76.08 76.93 77.79 78.25 76.76 77.40 78.01 78.64 76.74 77.27 77.84 78.46 76.70 77.27 77.84 78.46 76.71 77.27 77.84 78.46 3.6 2.9 2.9 3.3 4.4 3.4 3.2 3.3 3.6 2.8 2.9 3.3 1988:1 II Ill IV 78.99 79.79 80.73 81.36 77.11 77.99 78.93 79.71 92.69 93.15 93.76 94.36 81.00 81.88 82.89 83.59 72.19 73.16 74.12 74.98 89.59 90.18 90.61 91.52 93.34 93.86 94.26 95.23 78.77 79.60 80.36 81.21 99.37 99.69 99.87 100.88 80.01 80.73 81.23 81.99 92.34 94.31 95.52 95.38 93.41 95.14 94.19 95.10 78.50 79.18 79.61 79.92 78.22 78.87 79.05 79.14 78.64 79.35 79.97 80.46 79.21 80.01 80.75 81.46 78.99 79.80 80.73 81.36 78.98 79.79 80.71 81.33 78.99 79.79 80.72 81.34 2.7 4.1 4.8 3.2 2.9 4.1 3.8 3.6 2.7 4.1 4.8 3.2 See footnotes at the end of the table. April 2000 • SURVEY OF CURRENT BUSINESS 141 Table 3.—Price Indexes for Gross Domestic Product and Gross Domestic Purchases—Continued [Index numbers, 1996=100; quarterly estimates are seasonally adjusted] Chain-type price indexes Implicit price deflators Private fixed investment Year and quarter Personal consumption expenditures Nonresidential GDP Total Total Durable goods Nondurable goods Services Total Structures Equipment and software Residential Exports and imports of goods and services Governmen Gross domestic purchases Total Exports Imports Percent change f rom preceding period for chaintype price index Federal GNP GDP GNP GDP State and local Gross domestic purchases GNP 1989:1 II Ill IV 82.20 83.02 83.62 84.24 80.61 81.68 82.18 82.97 94.83 94.93 95.24 95.55 84.60 86.56 86.67 87.23 75.90 76.69 77.45 78.45 92.00 92.58 92.97 93.48 95.66 96.03 96.47 96.99 81.92 82.87 83.49 84.12 101.14 101.18 101.52 101.95 82.58 83.58 83.86 84.36 96.39 96.55 95.97 95.69 96.74 97.86 96.20 96.67 81.12 81.67 82.15 82.61 80.68 80.96 81.43 81.41 81.39 82.15 82.63 83.48 82.36 83.26 83.74 84.43 82.21 83.03 83.63 84.26 82.20 83.01 83.62 84.24 82.20 83.02 83.63 84.25 4.2 4.0 2.9 3.0 4.5 4.4 2.4 3.3 4.2 4!1 3.0 3.0 1990:1 II Ill IV 85.19 86.17 87.00 87.76 84.08 84.98 86.12 87.34 95.99 95.90 95.92 96.20 89.16 89.84 91.46 93.45 79.24 80.46 81.55 82.54 94.02 94.32 94.93 95.52 97.47 97.76 98.45 99.22 84.85 85.44 86.13 86.66 102.29 102.39 103.07 103.95 85.05 85.40 85.79 85.93 95.74 96.04 96.95 98.41 98.02 96.22 98.98 104.49 83.88 84.61 85.41 86.74 82.57 83.28 83.87 85.41 84.82 85.57 86.54 87.71 85.48 86.27 87.26 88.41 85.21 86.18 87.01 87.78 85.18 86.16 86.99 87.74 85.20 86.17 87.00 87.76 4.6 4.7 3.9 3.5 5.1 3.7 4.7 5.3 4.6 4.7 3.9 3.6 1991:1 II Ill IV 88.78 89.41 89.99 90.47 87.99 88.56 89.16 89.92 97.07 97.21 97.54 97.73 93.29 93.59 93.84 94.31 83.57 84.35 85.19 86.19 96.24 96.23 96.20 95.89 100.10 99.96 99.72 99.42 87.46 87.59 87.55 86.70 104.86 104.59 104.25 104.22 86.17 86.54 87.08 86.75 98.72 98.24 97.62 97.83 101.24 98.55 97.44 98.49 87.47 87.70 88.27 88.72 86.56 86.76 87.41 87.99 88.11 88.36 88.87 89.23 89.09 89.51 90.04 90.60 88.79 89.42 89.99 90.47 88.76 89.40 89.99 90.47 88.78 89.41 90.00 90.48 4.7 2.9 2.6 2.2 3.1 1.9 2.4 2.5 4.7 2.8 2.6 2.2 1992:1 II Ill IV 91.16 91.68 91.98 92.56 90.73 91.35 91.86 92.56 97.93 98.28 98.37 98.55 94.51 94.94 95.53 95.82 87.41 88.18 88.72 89.71 95.81 95.92 96.12 96.42 99.41 99.25 99.27 99.22 86.63 87.01 87.41 88.11 104.24 103.82 103.67 103.29 86.48 87.29 87.91 89.06 97.77 97.88 97.90 97.71 97.96 98.59 100.13 99.67 89.33 90.00 90.43 90.67 89.07 89.76 90.35 90.12 89.48 90.14 90.44 91.04 91.25 91.81 92.26 92.81 91.16 91.68 91.98 92.56 91.16 91.67 91.97 92.55 91.15 91.67 91.97 92.55 3.1 2.3 1.3 2.5 2.9 2.5 2.0 2.4 3.1 2.3 1.3 2.5 1993:1 II Ill IV 93.33 93.83 94.26 94.79 93.07 93.65 93.96 94.54 98.44 98.88 99.27 99.65 96.14 96.13 95.93 96.38 90.44 91.34 91.90 92.58 97.00 97.37 97.64 97.82 99.63 99.80 99.85 99.94 88.99 89.84 90.61 91.43 103.50 103.37 103.14 102.93 90.08 90.93 91.76 92.17 97.73 97.95 97.82 97.77 98.16 98.86 97.98 97.74 91.63 92.21 92.70 93.22 91.26 91.79 92.61 93.07 91.86 92.48 92.73 93.30 93.42 93.98 94.32 94.83 93.33 93.84 94.27 94.80 93.32 93.82 94.24 94.79 93.32 93.83 94.26 94.81 3.4 2.2 1.8 2.3 2.7 2.4 1.5 2.2 3.4 2.2 1.8 2.3 1994:1 II Ill IV 95.28 95.72 96.29 96.74 94.81 95.31 96.13 96.56 99.88 100.36 101.00 101.00 96.21 96.45 97.26 97.40 93.09 93.73 94.59 95.24 98.35 98.74 99.16 99.41 100.24 100.56 100.74 100.60 92.15 92.81 93.86 95.17 103.08 103.26 103.12 102.46 93.25 93.80 94.81 96.05 98.17 98.57 99.17 99.84 97.24 98.51 100.12 100.60 93.90 94.66 95.11 95.70 93.63 94.63 94.55 95.23 94.06 94.66 95.46 95.99 95.22 95.74 96.43 96.86 95.30 95.73 96.30 96.75 95.28 95.71 96.28 96.74 95.29 95.73 96.29 96.74 2.1 1.8 2.4 1.9 1.7 2.2 2.9 1.8 2.1 1.8 2.4 1.9 1995:1 II Ill IV 97.45 97.86 98.31 98.79 97.15 97.71 98.16 98.57 101.36 101.22 100.94 100.72 97.46 97.83 98.10 98.31 96.16 96.95 97.63 98.27 99.84 100.20 100.27 100.25 100.75 101.09 101.04 100.82 96.35 97.06 97.79 98.38 102.25 102.45 102.14 101.64 97.23 97.69 98.09 98.62 100.92 101.73 101.48 101.01 101.05 102.84 102.15 101.28 96.67 97.23 97.69 98.63 96.18 96.52 97.11 99.04 96.98 97.66 98.04 98.39 97.51 98.04 98.42 98.85 97.46 97.87 98.31 98.80 97.45 97.86 98.30 98.78 97.45 97.87 98.31 98.79 3.0 1.7 1.8 2.0 2.7 2.2 1.6 1.8 3.0 1.7 1.8 2.0 1996:1 II Ill IV 99.40 99.74 100.23 100.63 99.16 99.79 100.18 100.87 100.78 100.13 99.77 99.32 99.09 99.98 100.02 100.92 98.87 99.62 100.35 101.17 100.04 99.84 100.08 100.05 100.40 99.97 99.92 99.71 98.87 99.42 100.44 101.28 100.91 100.16 99.74 99.19 99.00 99.44 100.53 101.03 100.83 100.51 99.81 98.85 100.87 100.42 99.28 99.43 99.84 99.48 100.10 100.58 100.27 99.45 99.93 100.35 99.58 99.50 100.20 100.72 99.42 99.74 100.16 100.68 99.40 99.75 100.23 100.63 99.39 99.74 100.22 100.63 99.39 99.74 100.22 100.63 2.5 1.4 2.0 1.6 2.3 1.3 1.7 2.1 2.5 1.4 1.9 1.6 1997:1 II Ill IV 101.33 101.77 102.11 102.44 101.53 101.81 102.13 102.44 99.05 98.12 97.31 96.70 101.34 101.17 101.32 101.55 102.14 102.90 103.54 104.10 100.00 99.92 100.03 99.86 99.45 99.17 98.98 98.56 102.34 103.50 104.85 105.86 98.49 97.74 97.06 96.18 101.60 102.14 103.18 103.80 98.66 98.73 98.44 98.03 98.27 96.43 95.85 95.24 101.38 101.57 101.94 102.60 101.22 101.27 101.22 101.61 101.48 101.74 102.36 103.18 101.25 101.44 101.73 102.03 101.31 101.75 102.09 102.42 101.34 101.78 102.10 102.42 101.32 101.75 102.08 102.39 2.8 1.8 1.3 1.3 2.3 .8 1.2 1.2 2.7 1.7 1.3 1.3 1998:1 II Ill IV 102.68 102.96 103.30 103.51 102.51 102.79 103.07 103.37 96.32 95.83 95.29 94.34 101.20 101.15 101.46 101.78 104.47 105.09 105.56 106.12 99.38 99.15 99.16 99.11 97.90 97.36 97.03 96.60 106.11 106.85 107.79 108.73 95.25 94.34 93.64 92.81 103.88 104.64 105.76 106.93 96.99 96.53 95.80 95.44 92.57 91.63 90.55 90.48 102.84 103.20 103.70 104.03 102.11 102.34 102.45 102.79 103.27 103.70 104.41 104.73 102.01 102.21 102.48 102.72 102.65 102.93 103.28 103.50 102.62 102.93 103.31 103.57 102.59 102.91 103.29 103.55 .9 1.1 1.3 .8 -.1 .8 1.0 .9 .9 1.1 1.3 .9 1999:1 II Ill IV 104.03 104.37 104.65 105.16 103.74 104.32 104.79 105.43 93.67 93.22 92.75 92.35 102.19 103.47 104.20 105.18 106.72 107.16 107.73 108.45 99.19 99.17 99.19 99.32 96.38 96.04 95.72 95.71 109.07 109.67 110.58 111.52 92.44 91.86 91.24 90.99 107.97 108.93 110.04 110.65 95.33 95.49 95.80 96.41 89.81 90.96 92.35 93.46 105.01 105.77 106.64 107.55 104.93 105.16 105.63 106.34 105.09 106.14 107.23 108.24 103.13 103.62 104.06 104.65 104.01 104.36 104.63 105.14 104.07 104.43 104.71 105.21 104.06 104.41 104.69 105.19 2.0 1.3 1.1 2.0 1.6 1.9 1.7 2.3 2.0 1.3 1.1 1.9 1. Government consumption expenditures and gross investment. GDP Gross domestic product. GNP Gross national product. 142 • April 2000 SURVEY OF CURRENT BUSINESS Table 4.—National Income and Disposition of Personal Income [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Compensation of employees Year and quarter National income Total Wage and salary accruals Supplements to wages and salaries Proprietors1 income with IVA and WIUl IVrt aiHJ CCAdj. Farm Nonfarm Rental income of persons with CCAdj. Corporate profits with IVA and CCAdj. Total IVA CCAdj. Profits before tax Profits after tax Net interest Personal income Less* Personal tax and nontax payments Equals: DPI Less: Personal outlays Equals: Personal saving Saving as a percentage of DPI Real DPI 1 1929 86.8 51.1 50.5 0.7 6.2 8.7 5.6 10.6 0.5 -0.5 10.6 9.2 4.6 85.3 2.1 83.2 79.3 3.9 4.7 672.3 1930 1931 1932 1933 1934 75.6 60.4 43.9 41.4 50.2 46.9 39.8 31.1 29.6 34.3 46.2 39.2 30.5 29.0 33.7 .7 .6 .6 .5 .6 4.4 3.5 2.1 2.6 2.9 7.3 5.6 3.5 3.2 4.6 4.9 4.0 3.2 2.5 2.1 7.3 2.8 -.4 -.3 2.3 3.3 2.4 1.0 -.3 0 4.3 .4 3.4 -.1 -1.5 -1.9 -.6 .1 -.2 1.7 3.1 1.2 2.3 76.5 65.5 50.0 46.9 53.8 1.9 1.3 1.0 1.0 1.1 74.6 64.2 49.1 45.9 52.7 71.3 61.6 49.5 46.6 52.1 3.2 2.6 -.4 -.7 .6 4.3 4.0 -.8 -2.1 4.8 4.8 4.4 3.9 3.9 1935 1936 1937 1938 1939 57.9 65.8 74.0 67.4 72.9 37.4 42.9 48.0 45.0 48.1 36.7 42.0 46.1 43.0 46.0 .7 1.0 1.8 2.0 2.2 5.3 4.3 6.0 4.4 4.4 5.4 6.6 7.1 6.8 7.3 2.2 2.3 2.6 3.1 3.3 3.8 5.9 6.7 4.6 6.2 -.2 -.7 0 1.0 -.7 -.2 -.3 -7 -.8 -.7 4.2 6.9 7.5 4.4 7.6 3.3 5.5 5.9 3.4 6.2 3.9 3.7 3.6 3.5 3.5 60.5 68.8 74.3 68.6 73.1 1.3 1.5 2.1 2.1 1.7 59.2 67.3 72.2 66.5 71.4 56.6 63.0 67.7 65.1 68.0 2.6 4.3 4.5 1.5 3.4 1940 1941 1942 1943 1944 81.1 104.3 137.6 171.4 184.3 52.2 64.8 85.3 109.6 121.3 49.9 62.1 82.1 105.8 116.7 2.3 2.7 3.2 3.8 4.5 8.4 -.2 15.0 20.0 24.5 24.6 -2.5 -1.2 -.8 -.9 -.8 -.3 .4 10.4 18.3 22.0 25.6 24.5 7.6 10.9 14.0 17.0 18.3 3.4 4.0 5.0 5.6 5.9 9.5 10.1 12.0 12.0 10.7 10.6 11.5 11.5 3.2 3.2 3.1 2.7 2.3 78.6 96.3 123.8 152.4 166.3 1.9 2.5 5.1 17.0 18.0 76.7 93.8 118.7 135.4 148.3 72.2 82.1 89.7 100.4 109.3 1945 1946 1947 1948 1949 183.3 182.3 198.6 223.3 216.7 123.3 119.6 130.1 142.0 142.0 117.5 112.0 123.1 135.5 134.7 5.8 7.6 7.0 6.5 7.2 12.4 14.8 15.1 17.5 12.7 19.3 21.7 20.5 22.9 23.1 6.1 7.0 7.0 7.6 7.8 20.1 17.4 23.5 30.8 28.6 -.6 .7 -5.3 -5.9 -2.2 -2.3 -2.5 -2.9 -2.9 20.0 24.9 31.9 35.9 29.6 15.8 20.7 23.5 19.4 2.1 1.8 2.4 2.4 2.6 171.9 179.5 192.1 211.1 208.2 19.8 17.5 20.1 19.6 17.1 152.1 162.0 172.1 191.6 191.1 120.8 145.6 164.0 177.5 181.1 31.4 16.3 20.6 10.1 8.1 14.1 10.0 4.7 7.3 5.2 1,081.5 1,074.4 1,035.2 1,090.0 1,095.6 1950 1951 1952 1953 1954 241.0 278.7 293.3 308.2 308.4 155.4 181.5 196.3 210.3 209.3 147.2 171.6 185.6 199.0 197.2 8.1 9.9 13.5 16.0 15.1 13.0 12.5 25.1 27.8 29.2 30.3 31.0 8.7 9.5 10.5 11.5 12.5 35.4 40.4 38.4 38.7 37.9 -6.0 -1.2 10.7 11.4 12.0 -2.9 -3.2 -2.8 -2.0 -1.1 43.2 44.8 40.2 41.7 39.3 25.3 22.2 20.8 21.4 21.7 3.0 3.5 3.8 4.4 5.3 229.9 258.7 276.1 292.6 295.2 19.3 27.5 32.5 33.8 30.7 210.6 231.2 243.6 258.8 264.5 195.4 211.5 223.0 237.5 244.8 15.2 19.7 20.6 21.3 19.8 7.2 8.5 8.5 8.2 7.5 1,192.7 1,227.0 1,266.8 1,327.5 1,344.0 1955 1956 1957 1958 1959 338.5 358.7 375.0 377.3 411.5 225.8 244.6 257.6 259.6 281.0 212.1 229.0 239.9 241.3 259.8 13.7 15.6 17.7 18.3 21.2 11.5 11.3 11.3 13.1 10.9 34.0 35.7 37.7 38.3 40.9 12.8 13.1 13.8 14.5 15.2 48.5 47.4 47.0 42.4 53.7 -1.7 -2.7 -1.5 -.3 -.3 .3 -.4 -.5 -.3 .3 49.9 50.5 , 49.1 43.0 53.7 27.8 28.5 27.7 24.0 30.0 6.0 6.6 7.7 9.4 9.7 316.8 340.0 359.3 370.0 394.0 33.4 37.2 39.6 39.2 42.8 283.4 302.8 319.7 330.8 351.2 263.8 277.4 292.9 302.6 324.7 19.5 25.4 26.8 28.2 26.5 6.9 8.4 8.4 8.5 7.6 1,433.8 1,502.3 1,539.5 1,553.7 1,623.8 1960 1961 1962 1963 1964 427.5 442.5 477.1 504.4 542.1 296.4 305.3 327.2 345.3 370.7 272.8 280.5 299.3 314.8 337.7 23.6 24.8 27.9 30.4 33.0 11.4 12.1 12.1 11.9 10.8 40.4 42.3 44.4 45.8 49.9 16.2 16.9 17.8 18.5 18.6 52.3 53.5 61.6 67.6 74.8 -.2 .3 0 .1 -.5 1.0 1.7 4.6 5.6 6.4 51.5 51.5 56.9 61.9 68.9 28.8 28.7 32.9 35.7 40.9 10.7 12.4 14.1 15.2 17.3 412.7 430.3 457.9 481.0 515.8 46.6 47.9 52.3 55.3 52.8 366.2 382.4 405.6 425.8 463.0 339.8 350.5 372.2 392.7 422.4 26.4 31.9 33.5 33.1 40.5 7.2 8.3 8.3 7.8 8.8 1,664.8 1,720.0 1,803.5 1,871.5 2,006.9 1965 1966 1967 1968 1969 589.6 646.7 681.7 743.6 802.7 399.5 442.6 475.2 524.3 577.6 363.7 400.3 428.9 471.9 518.3 35.8 42.4 46.2 52.4 59.4 13.1 14.1 12.8 12.8 14.2 52.2 55.5 58.4 62.6 64.7 19.2 19.9 20.4 20.2 20.3 86.0 92.0 89.6 96.5 93.7 -1.2 -2.1 -1.6 -3.7 -5.9 7.2 7.6 7.9 8.0 8.5 80.0 86.5 83.3 92.2 91.1 49.1 52.8 50.6 52.8 51.4 19.7 22.6 25.4 27.2 32.2 557.4 606.4 650.4 714.5 780.8 58.4 67.3 74.2 88.3 105.9 498.9 539.1 576.2 626.2 675.0 456.2 494.6 522.3 573.6 622.3 42.7 44.5 54.0 52.7 52.6 8.6 8.3 9.4 8.4 7.8 2,131.0 2,244.6 2,340.5 2,448.2 2,524.3 1970 1971 1972 1973 1974 837.5 903.9 1,000.4 1,127.4 1,211.9 617.2 658.8 725.1 811.2 890.2 551.5 584.5 638.7 708.6 772.2 65.7 74.4 86.5 102.6 118.0 14.3 14.9 18.8 30.7 25.2 65.5 71.2 78.9 84.5 90.3 20.3 21.2 21.6 23.1 23.0 81.6 95.1 109.8 123.9 114.5 -6.6 -4.6 -6.6 -19.6 -38.2 7.6 7.3 9.0 9.4 5.9 80.6 92.4 107.3 134.2 146.8 46.2 54.7 65.5 84.9 95.0 38.4 42.6 46.2 53.9 68.8 841.1 905.1 994.3 1,113.4 1,225.6 104.6 103.4 125.6 134.5 153.3 736.5 801.7 868.6 979.0 1,072.3 667.0 721.6 791.7 876.5 957.9 69.5 80.1 76.9 102.5 114.3 9.4 2,630.0 2,745.3 2,874.3 3,072.3 3,051.9 1975 1976 1977 1978 1979 1,302.2 1,456.4 1,635.8 1,860.2 2,075.6 949.0 1,059.3 1,180.4 1,336.0 1,500.8 814.7 899.6 994.0 1,121.0 1,255.6 134.4 159.7 186.4 215.0 245.2 23.5 18.7 17.5 21.5 23.7 98.1 115.6 130.8 148.5 160.0 22.0 21.5 20.4 22.4 24.5 133.0 160.6 190.9 217.2 222.5 -10.5 -14.1 -15.7 -23.7 -40.1 -1.2 -4.0 -2.4 -4.0 -7.4 144.8 178.6 209.0 244.9 270.1 93.9 114.4 136.0 161.4 182.1 76.6 80.8 95.7 114.5 144.2 1,331.7 1,475.4 1,637.1 1,848.3 2,081.5 150.3 175.5 201.2 233.5 273.3 1,181.4 1,299.9 1,436.0 1,614.8 1,808.2 1,056.2 1,177.8 1,310.4 1,469.4 1,642.4 125.2 122.1 125.6 145.4 165.8 10.6 1980 1981 1982 1983 1984 2,243.0 2,497.1 2,603.0 2,796.5 3,162.3 1,651.7 1,825.7 1,926.0 2,042.7 2,255.9 1,377.4 1,517.3 1,593.4 1,684.3 1,854.8 274.3 308.5 332.6 358.5 401.1 13.1 20.3 14.4 31.3 39.6 39.6 36.9 39.5 198.5 219.0 201.2 254.1 309.8 -42.1 -24.6 -7.5 -7.4 -4.0 -10.8 13.3 30.2 47.7 251.4 240.9 195.5 231.4 266.0 166.6 159.8 132.4 154.1 172.0 183.9 226.5 256.3 267.2 309.6 2,323.9 2,599.4 2,768.4 2,946.9 3,274.8 304.2 351.5 361.6 360.9 387.2 2,019.8 2,247.9 2,406.8 2,586.0 2,887.6 1,814.1 2,004.2 2,144.6 2,358.2 2,581.1 205.6 243.7 262.2 227.8 306.5 10.2 10.8 10.9 21.6 164.5 165.9 165.4 188.3 225.9 10.6 3,658.0 3,741.1 3,791.7 3,906.9 4,207.6 1985 1986 1987 1988 1989 3,380.4 3,525.8 3,803.4 4,151.1 4,392.1 2,425.2 2,570.7 2,755.6 2,973.8 3,151.0 1,995.2 2,114.4 2,270.2 2,452.7 2,596.8 430.0 456.3 485.4 521.1 554.2 21.5 23.0 29.0 26.0 32.2 245.5 255.6 274.8 312.7 329.6 39.1 32.2 35.8 44.1 40.5 322.4 300.7 346.6 405.0 395.7 0 7.1 -16.2 -22.2 -16.3 67.2 50.3 48.2 45.3 35.3 255.2 243.4 314.6 381.9 376.7 158.7 136.9 187.5 244.8 235.3 326.7 343.6 361.5 389.4 443.1 3,515.0 3,712.4 3,962.5 4,272.1 4,599.8 428.5 449.9 503.0 519.7 583.5 3,086.5 3,262.5 3,459.5 3,752.4 4,016.3 2,803.9 2,994.7 3,206.7 3,460.1 3,714.4 282.6 267.8 252.8 292.3 301.8 9.2 8.2 7.3 7.8 7.5 4,347.8 4,486.6 4,582.5 4,784.1 4,906.5 1990 1991 1992 1993 1994 4,642.1 4,756.6 4,994.9 5,251.9 5,556.8 3,351.0 3,454.9 3,644.8 3,814.4 4,016.2 2,754.6 2,824.2 2,966.8 3,091.6 3,254.3 596.4 630.7 677.9 722.8 761.9 31.1 26.4 32.7 30.1 31.9 349.9 357.8 401.7 431.7 444.6 49.1 56.4 63.3 90.9 110.3 408.6 431.2 453.1 510.5 573.2 19.9 10.2 12.2 401.5 416.1 451.6 510.4 573.4 260.9 282.6 308.4 345.0 386.7 452.4 429.8 399.5 374.3 380.5 4,903.2 5,085.4 5,390.4 5,610.0 5,888.0 609.6 610.5 635.8 674.6 722.6 4,293.6 4,474.8 4,754.6 4,935.3 5,165.4 3,959.3 4,103.2 4,340.9 4,584.5 4,849.9 334.3 371.7 413.7 350.8 315.5 7.8 8.3 8.7 7.1 6.1 5,014.2 5,033.0 5,189.3 5,261.3 5,397.2 1995 1996 1997 1998 1999 5,876.7 6,210.4 6,635.5 7,038.8 7,496.3 4,202.5 4,395.6 4,675.7 5,011.2 5,331.7 3,441.1 3,630.1 3,884.7 4,189.5 4,472.3 761.4 765.4 791.0 821.7 859.4 22.2 34.3 29.5 25.1 31.3 475.5 510.5 549.1 581.0 627.3 117.9 129.7 130.2 137.4 145.9 668.8 754.0 838.5 848.4 892.7 -18.3 20.9 -13.0 18.6 24.6 35.3 45.6 57.2 668.5 726.3 795.9 781.9 848.5 457.5 502.7 557.6 541.7 589.1 389.8 386.3 412.5 435.7 467.5 6,200.9 6,547.4 6,951.1 7,358.9 7,791.8 778.3 869.7 968.3 1,072.6 1,152.1 5,422.6 5,677.7 5,982.8 6,286.2 6,639.7 5,120.2 5,405.6 5,711.7 6,056.6 6,483.3 302.4 272.1 271.1 229.7 156.3 5.6 4.8 4.5 3.7 2.4 5,539.1 5,677.7 5,866.7 6,107.1 6,349.4 1946:1 II Ill IV .... 172.4 179.0 186.3 191.5 115.2 117.5 121.4 124.4 107.7 109.6 113.5 117.2 7.5 8.0 7.8 7.2 13.0 13.6 16.1 16.6 21.1 22.1 14.0 17.0 18.0 20.5 -1.2 -2.8 -8.1 -8.9 -1.8 -2.1 -2.5 -2.9 17.0 21.9 28.6 32.3 10.8 13.9 18.1 20.5 1.7 1.8 1.8 1.9 172.4 176.9 182.7 185.9 16.3 17.6 18.1 18.0 156.0 159.3 164.6 167.9 136.1 141.5 150.3 154.7 200 128 17.9 14.2 13.2 11.2 21.3 7.4 7.0 6.8 6.8 1947:1 II Ill IV .... 194.2 195.4 198.5 206.1 127.2 128.7 130.1 134.3 119.7 121.5 123.4 127.8 7.5 7.2 6.6 6.5 16.7 13.2 14.8 15.7 20.7 20.3 20.2 20.9 6.8 6.9 7.1 7.3 20.5 23.9 24.0 25.6 -9.7 -4.7 -4.0 -5.2 -2.6 -2.3 -2.6 -2.6 32.8 31.0 30.6 33.5 21.2 20.0 19.8 21.7 2.4 2.4 2.4 2.3 188.5 186.8 194.9 198.3 19.4 19.8 20.0 21.1 169.1 167.1 174.9 177.2 158.2 162.1 165.8 169.9 10.9 6.4 3.0 5.2 4.1 1,040.6 1,019.2 1,046.6 1,034.5 1948:1 II Ill IV .... 215.4 222.6 227.0 228.4 138.0 139.7 144.5 146.0 131.4 133.2 138.1 139.5 6.6 6.5 6.5 6.5 15.7 18.8 18.5 16.9 22.1 22.8 23.3 23.5 7.5 7.6 7.7 7.8 29.6 31.3 30.5 31.9 -2.9 -2.9 -2.8 -2.6 -2.8 -3.1 ^3.2 35.1 36.9 36.3 35.2 22.9 24.1 23.8 23.0 2.5 2.4 2.4 2.4 204.3 209.7 215.3 215.3 21.5 19.3 18.6 18.8 182.8 190.4 196.7 196.5 172.9 176.8 179.7 180.6 5.4 7.2 8.6 8.1 1,055.3 1,087.7 1,107.1 1,109.8 See footnotes at the end of the table. 4.5 6.4 7.2 222 -.8 -.3 1.9 1.0 -1.0 -.3 -12.9 4.9 -2.8 -4.0 -12.4 3.1 7.4 -.1 0 2.7 4.3 4.1 9.3 1.2 629.3 607.8 526.5 510.7 560.3 4.4 6.4 6.2 2.2 4.7 614.7 692.2 716.6 675.9 732.3 4.5 5.9 11.7 29.0 34.9 39.0 12.4 24.4 25.8 26.3 781.1 899.0 1,012.4 1,057.9 1,096.1 5.0 9.1 7.3 9.8 13.6 17.0 15.9 -1.5 10.0 8.9 10.5 10.7 9.4 8.7 9.0 9.2 8.8 3,108.5 3,243.5 3,360.7 3,527.5 3,628.6 8.7 7.9 April 2000 • SURVEY OF CURRENT BUSINESS 143 Table 4.—National Income and Disposition of Personal Income—Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Compensation of employees Year and quarter National income Total SuppleWage ments to and wages salary and accruals . salaries Proprietors' income with IVA and WIUl IVrt dilU CCAdj. Farm Nonfarm Rental income of persons with CCAdj. Corporate profits with IVA and CCAdj. Total IVA CCAdj. Profits before tax Profits aftertax Net interest Personal income Less* Personal tax and nontax payments Equals: DPI Less: Personal outlays Equals: Personal saving Saving as a percentage of DPI Real DPI 1 1949:1 II Ill IV .... 221.2 216.3 216.3 213.1 144.2 142.0 141.1 140.5 136.9 134.6 133.9 133.4 7.2 7.4 7.2 7.1 13.3 12.7 12.1 12.4 23.0 23.1 23.0 23.2 7.6 7.7 7.9 8.1 30.5 28.2 29.4 26.2 1.4 2.8 3.0 .2 -2.9 -2.9 -2.9 -2.8 32.1 28.3 29.3 28.8 21.0 18.6 19.2 18.8 2.5 2.6 2.7 2.7 209.3 208.0 207.2 208.3 18.2 17.4 16.7 16.2 191.2 190.6 190.5 192.1 179.4 181.1 180.6 183.2 11.7 9.5 9.9 8.9 6.1 5.0 5.2 4.6 1,087.8 1,091.3 1,096.8 1,106.3 1950:1 II Ill IV .... 222.2 232.7 248.3 260.7 144.7 150.7 159.1 167.0 137.1 142.9 150.8 158.3 7.6 7.9 8.3 8.8 12.8 12.8 13.7 14.9 23.9 24.5 26.0 25.9 8.4 8.6 8.7 9.0 29.6 33.2 37.8 40.9 -.7 -3.3 -7.3 -8.5 -2.6 -2.8 -2.8 -3.3 33.0 39.4 47.9 52.7 19.3 23.1 28.0 30.8 2.9 2.9 3.0 3.1 222.6 223.2 232.1 241.8 17.0 18.0 19.3 22.9 205.6 205.3 212.8 218.8 186.1 190.1 203.9 201.4 19.5 15.2 8.8 17.4 9.5 7.4 4.2 8.0 1,186.1 1,178.1 1,196.5 1,210.0 1951:1 II Ill IV .... 270.2 276.6 281.4 286.7 175.1 180.7 183.9 186.6 165.5 170.8 173.8 176.2 9.6 9.9 10.0 10.3 15.7 15.9 15.9 16.6 27.4 27.5 28.0 28.4 9.1 9.4 9.6 9.9 39.7 39.8 40.4 41.7 -3.7 -1.0 3.5 1.5 -3.5 -3.3 -3.1 ^3.0 51.9 44.1 40.1 43.2 25.6 21.8 19.9 21.6 3.3 3.4 3.6 3.6 250.4 257.3 260.9 266.3 24.9 26.8 28.2 30.1 225.5 230.5 232.7 236.2 212.5 208.1 210.8 214.8 13.0 22.4 22.0 21.5 5.8 9.7 9.4 9.1 1,207.9 1,225.8 1,235.8 1,238.5 1952:1 II Ill IV .... 287.6 288.2 293.5 303.7 191.6 192.9 196.4 204.3 181.2 182.4 185.7 193.3 10.4 10.5 10.7 11.0 14.7 15.3 16.7 13.7 28.6 29.0 29.3 30.0 10.1 10.4 10.6 10.9 39.0 36.9 36.7 40.9 1.3 1.2 .7 .8 -3.1 -3.0 -2.7 -2.6 40.7 38.7 38.8 42.7 20.9 20.0 20.2 22.2 3.6 3.7 3.8 3.9 268.5 272.1 278.9 284.9 31.3 32.3 32.7 33.5 237.1 239.8 246.1 251.4 216.3 220.6 223.3 231.7 20.9 19.2 22.8 19.6 8.8 8.0 9.3 7.8 1,238.5 1,252.0 1,276.1 1,300.5 1953:1 II Ill IV .... 309.0 311.4 309.9 302.6 208.1 211.5 211.6 210.1 196.9 200.1 200.3 198.7 11.2 11.4 11.4 11.5 13.5 13.1 12.4 12.8 30.5 30.3 30.2 30.3 11.2 11.4 11.6 11.9 41.6 40.8 39.6 32.7 -.4 -1.6 -2.0 0 -2.5 -2.2 -2.0 -1.4 44.5 44.6 43.6 34.1 22.9 22.8 22.3 17.5 4.2 4.3 4.4 4.8 289.5 293.6 293.6 293.7 33.9 33.9 33.7 33.5 255.6 259.6 259.9 260.2 235.6 237.7 238.6 238.1 20.0 22.0 21.3 22.1 7.8 8.5 8.2 8.5 1,317.5 1,336.3 1,330.2 1,325.9 1954:1 II Ill IV .... 304.3 304.5 308.0 316.8 208.2 207.8 208.4 212.7 196.4 195.9 196.3 200.3 11.9 11.9 12.1 12.4 13.6 12.0 12.5 11.9 30.2 30.8 31.0 32.0 12.2 12.4 12.5 12.7 35.1 36.3 38.2 41.9 0 0 -.7 -.5 -1.4 -1.3 -1.1 -.7 36.5 37.7 40.0 43.1 20.1 20.8 22.1 23.8 5.0 5.1 5.3 5.6 293.2 292.3 294.7 300.7 30.7 30.5 30.6 31.0 262.5 261.8 264.2 269.7 240.2 243.0 245.7 250.3 22.3 18.8 18.5 19.4 8.5 7.2 7.0 7.2 1,330.3 1,327.9 1,344.2 1,373.6 1955:1 II Ill IV .... 327.7 336.1 342.1 348.3 217.2 223.7 228.7 233.7 204.2 210.3 214.6 219.4 13.0 13.4 14.0 14.3 12.0 11.8 11.3 10.8 33.0 33.6 34.4 35.0 12.7 12.7 12.8 12.9 47.0 48.3 48.8 49.9 -1.1 -.9 -2.2 -2.8 -.2 .2 .8 .5 48.3 49.0 50.1 52.1 27.0 27.4 28.0 29.1 5.8 6.0 6.1 6.0 306.3 313.6 321.1 326.1 31.9 33.0 33.9 34.8 274.3 280.6 287.2 291.4 256.6 261.9 266.3 270.5 17.7 18.7 20.9 20.9 6.5 6.7 7.3 7.2 1,392.7 1,423.3 1,451.1 1,468.1 1956:1 II Ill IV .... 351.0 356.7 360.0 367.0 238.2 242.8 245.9 251.7 223.3 227.5 229.9 235.3 14.9 15.3 16.0 16.4 10.6 11.1 11.8 11.6 35.1 35.5 35.8 36.4 13.0 13.0 13.2 13.3 47.7 47.6 46.7 47.4 -2.9 -3.6 -1.2 -3.0 .4 -.1 -.8 -1.1 50.3 51.4 48.7 51.5 28.2 28.9 27.6 29.2 6.3 6.6 6.7 6.6 331.1 337.3 342.2 349.5 35.9 36.8 37.5 38.5 295.1 300.5 304.7 311.0 272.3 275.1 278.4 283.9 22.8 25.3 26.2 27.1 7.7 8.4 8.6 8.7 1,480.9 1,497.8 1,504.1 1,526.5 1957:1 II Ill IV .... 373.0 375.0 378.8 373.4 255.4 257.1 259.8 258.3 238.2 239.6 241.8 240.1 17.2 17.5 18.0 18.2 10.4 11.0 11.8 11.9 37.3 37.6 38.1 37.8 13.5 13.7 13.8 14.0 49.1 48.0 47.4 43.5 -2.4 -1.5 -1.3 -.9 -.8 -.6 -.4 -.4 52.3 50.1 49.1 44.8 29.5 28.2 27.6 25.3 7.2 7.5 8.0 8.0 353.3 358.0 362.9 363.0 39.2 39.6 39.9 39.5 314.0 318.4 323.0 323.5 288.4 290.7 295.4 297.2 25.6 27.6 27.6 26.3 8.2 8.7 8.5 8.1 1,527.5 1,538.6 1,548.7 1,543.1 1958:1 II Ill IV .... 367.9 368.8 379.7 392.6 255.3 254.9 261.0 267.3 237.3 236.9 242.6 248.4 18.0 18.0 18.4 18.9 13.4 13.3 13.0 12.6 37.7 38.0 38.5 39.2 14.3 14.4 14.5 14.6 38.4 38.9 43.1 49.1 -.2 .3 -.2 -.9 .1 -.6 -.6 -.3 38.5 39.2 43.9 50.2 21.6 22.0 24.5 27.9 8.8 9.3 9.6 9.8 362.5 364.8 373.9 378.9 38.9 38.4 39.6 40.0 323.6 326.4 334.2 338.9 296.9 299.8 304.8 308.8 26.8 26.6 29.4 30.1 8.3 8.2 8.8 8.9 1,524.7 1,534.1 1,568.1 1,588.0 1959:1 II Ill IV .... 402.7 416.0 411.4 415.8 274.4 281.7 282.4 285.7 254.0 260.5 260.9 263.9 20.5 21.1 21.5 21.8 11.7 10.8 10.3 10.9 39.9 41.1 41.4 41.0 14.6 15.1 15.5 15.7 52.7 57.6 52.1 52.4 -.6 -1.0 -.3 .8 0 .5 .2 .4 53.3 58.1 52.2 51.1 29.8 32.5 29.2 28.6 9.4 9.7 9.8 10.1 384.8 393.7 395.9 401.6 41.2 42.4 43.1 44.2 343.6 351.3 352.8 357.4 316.6 322.9 328.4 330.9 26.9 28.4 24.3 26.5 7.8 8.1 6.9 7.4 1,599.5 1,629.6 1,627.0 1,639.2 1960:1 II Ill IV .... 427.9 427.6 428.2 426.5 294.1 296.9 297.7 297.1 270.7 273.4 273.9 273.3 23.4 23.6 23.7 23.8 10.3 11.3 11.8 12.4 40.8 40.6 40.2 40.1 16.0 16.1 16.3 16.5 56.4 52.4 51.4 49.2 -.9 -.6 .5 .3 .7 .8 1.0 1.2 56.5 52.1 49.8 47.7 31.5 29.2 27.9 26.9 10.4 10.3 10.8 11.2 407.8 412.4 414.6 416.2 45.8 46.5 47.0 47.0 362.0 365.9 367.6 369.2 334.6 340.7 340.9 343.0 27.4 25.2 26.7 26.3 7.6 6.9 7.3 7.1 1,657.7 1,666.5 1,667.7 1,667.2 1961:1 II Ill IV .... 427.9 437.2 446.0 458.8 298.0 302.2 307.2 313.9 273.7 277.6 282.2 288.4 24.3 24.6 25.0 25.5 12.3 11.5 11.9 12.6 41.2 42.0 42.6 43.3 16.7 16.8 17.0 17.3 48.2 52.5 54.7 58.5 -.1 1.0 .3 -.2 1.5 1.8 1.8 1.8 46.8 49.6 52.6 56.9 26.2 27.7 29.3 31.6 11.6 12.2 12.6 13.3 420.0 425.9 433.1 442.0 47.1 47.6 48.1 48.8 372.9 378.4 385.1 393.2 343.5 348.4 351.4 358.8 29.5 30.0 33.7 34.4 7.9 7.9 8.7 8.8 1,680.6 1,705.4 1,729.4 1,764.4 1962:1 II Ill IV .... 467.8 474.4 479.8 486.6 320.4 326.4 329.2 332.7 293.2 298.7 301.1 304.2 27.2 27.7 28.1 28.5 12.2 11.8 11.9 12.3 43.7 44.3 44.8 44.7 17.5 17.7 18.0 18.1 60.9 60.2 61.4 63.7 .4 -.1 -.8 .5 4.5 4.6 4.7 4.8 56.0 55.7 57.5 58.4 32.2 32.2 33.2 34.0 13.0 14.0 14.5 15.0 448.0 455.8 461.0 466.7 50.1 51.6 53.0 54.3 397.9 404.2 408.0 412.4 364.0 369.9 374.1 380.6 33.9 34.3 33.9 31.8 8.5 8.5 8.3 7.7 1,777.9 1,799.3 1,811.4 1,825.5 1963:1 II Ill IV .... 491.5 500.3 508.1 517.7 337.5 342.4 347.5 353.6 307.9 312.3 316.8 322.2 29.6 30.1 30.7 31.4 12.1 11.7 11.7 12.3 44.9 45.4 46.1 47.0 18.3 18.5 18.6 18.6 64.0 67.4 68.8 70.4 1.0 .2 -.2 -.8 5.0 5.6 5.8 6.2 58.0 61.6 63.2 64.9 33.6 35.5 36.4 37.4 14.7 14.9 15.4 15.9 471.4 476.3 483.6 492.9 54.8 55.0 55.3 55.9 416.6 421.3 428.3 437.0 384.5 388.8 396.2 401.1 32.1 32.5 32.1 35.8 7.7 7.7 7.5 8.2 1,838.9 1,857.2 1,879.2 1,910.5 1964:1 II Ill IV .... 529.1 537.3 547.7 554.4 360.0 367.4 374.7 380.7 328.2 334.8 341.4 346.7 31.9 32.6 33.3 34.0 10.8 10.1 10.4 11.8 48.5 49.8 50.6 50.6 18.6 18.5 18.6 18.6 74.6 74.5 75.6 74.7 -.2 -.1 -.9 -.7 6.5 6.3 6.5 6.3 68.4 68.3 70.0 69.0 40.6 40.5 41.6 41.1 16.5 17.1 17.8 18.0 502.0 510.8 520.7 529.7 54.5 50.5 52.4 54.0 447.5 460.3 468.3 475.7 410.8 419.1 428.4 431.3 36.7 41.2 39.9 44.4 8.2 8.9 8.5 9.3 1,947.6 1,999.4 2,027.8 2,052.6 1965:1 II Ill IV .... 570.9 582.1 593.6 611.6 387.3 394.2 402.3 414.2 352.8 358.8 366.2 377.1 34.6 35.3 36.2 37.1 12.0 12.8 13.3 14.0 51.0 51.7 52.3 53.7 18.9 19.1 19.4 19.4 82.7 84.8 86.1 90.2 -.4 -1.1 -1.5 -1.9 6.9 7.2 7.6 7.3 76.2 78.8 80.0 84.8 46.8 48.5 49.1 51.9 19.0 19.5 20.1 20.1 539.6 549.2 563.6 577.1 57.7 59.2 57.8 59.1 481.9 490.1 505.8 518.0 442.2 449.8 459.3 473.6 39.6 40.3 46.5 44.5 8.2 8.2 9.2 8.6 2,071.8 2,096.4 2,155.3 2,200.4 1966:1 II Ill IV .... 631.8 640.4 651.5 663.0 426.7 437.8 448.9 457.1 385.7 395.9 406.1 413.4 41.0 41.9 42.8 43.7 15.7 13.5 13.5 13.7 54.9 55.1 55.6 56.3 19.8 19.8 20.1 20.1 93.4 92.2 90.5 91.7 -1.2 -2.7 -3.6 -1.0 7.5 7.6 7.6 7.7 87.1 87.3 86.6 84.9 53.1 53.3 52.9 51.9 21.3 22.1 22.9 24.0 589.0 598.7 612.3 625.7 62.4 66.5 68.9 71.6 526.6 532.2 543.4 554.1 484.3 489.8 499.1 505.1 42.3 42.4 44.3 49.0 8.0 8.0 8.2 8.8 2,219.3 2,224.6 2,254.0 2,280.5 1967:1 II Ill IV .... 667.7 672.8 686.1 700.0 463.3 469.0 478.7 489.6 418.8 423.5 431.9 441.5 44.5 45.5 46.7 48.1 13.2 12.3 13.0 12.5 57.3 57.9 59.2 59.1 20.3 20.4 20.5 20.4 89.0 87.9 89.2 92.3 -.4 -1.3 -1.7 -2.8 7.6 7.7 8.1 8.1 81.8 81.5 82.8 87.1 49.6 49.6 50.6 52.9 24.5 25.3 25.6 26.1 635.7 642.5 656.0 667.2 72.3 72.1 75.1 77.2 563.4 570.4 581.0 590.1 509.6 519.2 526.3 533.9 53.8 51.2 54.7 56.1 9.6 9.0 9.4 9.5 2,312.6 2,329.9 2,351.4 2,367.9 1968:1 II Ill IV .... 717.8 736.5 752.8 767.5 504.5 517.6 531.4 543.9 454.1 465.9 478.3 489.3 50.3 51.7 53.1 54.5 12.6 12.3 13.0 13.3 60.6 62.3 63.6 64.0 20.2 20.2 20.3 20.1 93.3 97.1 97.2 98.5 -4.7 -2.9 -3.0 -4.1 8.1 8.1 8.0 7.8 89.9 91.9 92.2 94.7 51.5 52.6 52.8 54.3 26.6 27.1 27.3 27.8 686.8 706.5 724.7 739.9 79.8 82.9 93.1 97.1 607.0 623.5 631.5 642.8 552.2 566.5 583.2 592.4 54.8 57.1 48.3 50.4 9.0 9.2 7.7 7.8 2,409.5 2,451.2 2,457.9 2,474.3 See footnotes at the end of the table. 144 • April 2000 SURVEY OF CURRENT BUSINESS Table 4.—National Income and Disposition of Personal Income—Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Compensation of employees Year and quarter National income Total Wage ana salary accruals Supplements to wages and salaries Proprietors' income with IVA and CCAdj, Farm Nonfarm Rental income of persons with CCAdj. 1969:1 II Ill IV .... 782.4 796.1 812.4 819.7 556.0 569.8 586.5 598.2 499.0 511.3 526.3 536.4 57.0 58.5 60.2 61.8 12.8 13.9 14.5 15.4 64.7 65.0 65.1 64.0 20.3 20.3 20.4 20.3 ' 1970:1 II Ill IV .... 823.7 833.8 846.7 845.7 608.5 614.0 622.1 624.1 545.0 549.0 555.6 556.3 63.5 65.0 66.5 67.9 15.1 13.8 14.5 13.9 64.2 64.7 65.9 67.1 1971:1 II Ill IV .... 878.7 896.4 910.6 929.9 641.6 653.6 663.9 676.3 570.1 580.2 588.6 598.9 71.5 73.5 75.3 77.4 14.4 14.8 14.5 16.0 1972:1 II Ill IV .... 961.4 979.0 1,009.4 1,051.8 701.0 715.8 729.7 754.0 617.8 630.4 642.3 664.2 83.2 85.4 87.4 89.8 1973:1 II Ill IV .... 1,087.9 1,110.2 1,136.7 1,174.9 781.6 800.9 819.8 842.5 683.2 700.0 716.1 735.3 1974:1 II Ill IV .... 1,184.2 1,199.9 1,224.8 1,238.8 1975:1 II Ill IV .... Corporate profits, with IVA and CCAdj. Total IVA CCAdj. Profits before tax Profits after tax Net interest Personal income Less: Personal tax and nontax payments Equals: DPI Less: Personal outlays Equals: Personal saving Saving as a percentage of DPI Real DPI 1 98.5 95.5 92.9 88.0 -4.9 -5.2 -4.9 -8.4 8.4 8.5 8.6 8.4 95.0 92.2 89.2 87.9 53.7 52.0 50.4 49.4 30.1 31.6 33.0 33.9 753.8 771.7 791.7 806.2 103.9 107.0 105.5 107.1 649.9 664.7 686.1 699.1 604.9 616.9 627.6 639.9 45.0 47.8 58.6 59.2 6.9 7.2 8.5 8.5 2,477.5 2,501.5 2,550.2 2,568.1 20.2 19.9 20.5 20.7 80.3 83.9 83.7 78.7 -8.8 -4.6 -6.2 -6.6 8.1 7.6 7.4 7.2 81.0 80.8 82.5 78.0 46.8 46.6 47.2 44.3 35.4 37.4 39.8 41.2 817.1 838.3 850.5 858.5 106.0 107.0 102.2 103.1 711.1 731.2 748.3 755.4 651.4 661.8 674.0 680.8 59.6 69.5 74.3 74.6 8.4 9.5 9.9 9.9 2,581.9 2,626.0 2,661.1 2,650.9 68.1 70.3 72.1 74.1 20.6 21.1 21.3 21.6 91.8 93.8 95.9 99.1 -3.6 -4.7 -5.6 ^.5 7.0 7.3 7.5 7.4 88.4 91.2 94.1 . 96.1 51.0 53.0 56.6 58.2 42.1 42.8 42.8 42.8 877.6 900.2 912.8 929.8 99.9 102.4 104.0 107.2 777.6 797.9 808.8 822.5 700.2 714.6 727.4 744.2 77.4 83.3 81.4 78.4 10.0 10.4 10.1 9.5 2,703.5 2,742.6 2,752.9 2,782.1 15.0 17.2 19.7 23.1 75.5 76.5 79.3 84.2 21.9 19.1 22.7 22.8 104.5 105.6 110.7 118.2 -5.8 -5.8 -5.8 -9.0 8.4 8.3 9.4 10.1 102.0 103.1 107.2 117.1 62.0 62.9 65.6 71.4 43.5 44.7 47.2 49.5 957.6 974.0 1,000.9 1,044.5 121.7 125.4 126.3 129.2 835.9 848.7 874.6 915.3 761.9 780.6 799.4 825.0 74.1 68.0 75.1 90.3 8.9 8.0 8.6 9.9 2,797.6 2,822.9 2,883.6 2,993.0 98.4 101.0 103.7 107.3 23.2 28.8 31.5 39.3 84.5 83.6 84.7 85.3 23.2 23.3 22.5 23.5 125.4 122.1 122.6 125.7 -15.8 -21.1 -18.7 -22.7 9.9 9.1 8.7 9.7 131.4 134.0 132.6 138.7 82.3 84.4 84.6 88.3 49.9 51.5 55.5 58.7 1,067.1 1,096.8 1,125.5 1,164.4 128.5 131.2 136.1 142.0 938.6 965.6 989.4 1,022.4 850.4 866.4 886.0 903.1 88.3 99.1 103.4 119.3 9.4 10.3 10.5 11.7 3,031.9 3,059.6 3,079.3 3,118.3 860.5 881.3 903.1 915.9 112.4 748.1 765.2 116.2 783.0 120.1 792.4 i 123.5 30.7 21.8 22.9 25.2 87.8 89.5 92.3 91.7 23.5 22.8 23.0 22.7 118.6 117.0 113.2 109.0 -31.8 -36.7 -60.0 -34.4 8.8 7.3 5.5 2.1 141.6 146.5 157.8 141.2 92.8 95.1 101.2 90.9 63.0 67.5 70.3 74.4 1,182.0 1,207.8 1,244.4 1,268.2 145.0 151.2 157.3 160.0 1,037.0 1,056.6 1,087.2 1,108.2 920.5 949.0 977.2 985.0 116.6 107.6 109.9 123.2 11.2 10.2 10.1 11.1 3,072.1 3,045.5 3,053.3 3,036.7 1,243.7 1,270.8 1,326.8 1,367.6 919.2 931.7 957.7 987.6 791.8 800.2 821.2 845.6 127.4 131.5 136.5 141.9 20.9 21.7 25.6 25.8 94.1 95.8 99.3 103.2 22.3 22.1 22.0 21.7 1.10.9 123.6 145.4 152.2 -12.4 -7.0 -11.7 -11.1 .3 -.9 -1.7 -2.7 122.9 131.4 158.9 166.0 80.0 85.3 102.3 108.1 76.4 75.8 76.8 77.3 1,281.0 1,310.9 1,348.4 1,386.5 160.5 123.7 155.6 161.4 1,120.5 1,187.1 1,192.9 1,225.1 1,010.1 1,039.1 1,073.2 1,102.3 110.4 148.1 . 119.7 122.8 9.9 12.5 10.0 10.0 3,015.0 3,156.6 3,114.9 3,147.6 1976:1 II Ill IV .... 1,416.0 1,438.3 1,469.3 1,501.8 1,022.3 1,045.9 1,070.8 1,098.1 871.1 889.2 908.3 929.8 151.2 156.7 162.5 168.3 21.0 18.6 17.6 17.4 108.8 113.2 118.2 122.2 21.7 21.0 21.4 21.8 164.5 159.0 159.4 159.3 -10.7 -14.9 -15.2 -15.6 -3.7 -4.6 -4.1 -3.4 178.9 178.5 178.8 178.3 113.5 114.1 114.8 115.3 77.7 80.5 81.8 83.1 1,424.6 1,453.2 1,492.8 1,530.9 165.2 172.1 179.0 185.7 1,259.4 1,281.1 1,313.8 1,345.2 1,138.1 1,158.7 •1,189.1 1,225.2 121.4 122.5 124.7 120.0 9.6 9.6 9.5 8.9 3,201.9 3,229.0 3,259.7 3,283.5 1977:1 II Ill IV .... 1,551.1 1,612.4 1,667.8 1,712.1 1,127.0 1,164.4 1,196.9 1,233.4 949.9 980.8 1,007.3 1,038.0 177.1 183.6 189.6 195.5 18.4 15.7 15.1 20.6 125.7 128.7 132.6 136.4 21.9 20.4 19.7 19.6 168.6 190.2 205.9 199.1 -21.4 -15.3 -9.5 -16.6 -4.2 -2.9 -1.2 -1.2 194.2 208.4 216.5 216.9 126.8 135.4 140.9 140.9 89.5 93.0 97.6 102.9 1,569.7 1,610.4 1,656.3 1,712.1 191.9 198.9 201.9 211.9 , 1,377.8 1,411.5 1,454.4 1,500.2 1,261.8 1,291.6 1,324.4 1,363.8 116.0 119.8 130.1 136.4 8.4 8.5 8.9 9.1 3,305.4 3,326.8 3,376.5 3,433.8 1978:1 II Ill IV .... 1,750.1 1,841.5 1,893.1 1,956.0 1,269.5 1,318.3 1,355.7 1,400.4 1,064.0 1,106.3 1,137.8 1,176.0 205.5 212.1 217.9 224.4 20.4 22.5 22.2 21.0 139.8 148.4 152.1 153.8 21.6 21.0 23.2 23.9 192.1 219.3 223.7 233.7 -20.8 -23.2 -23.3 -27.5 -2.6 -3.7 ^.6 -5.1, 144.3 215.6 246.2 . 161.0 165.2 251.6 175.3 266.4 106.5 111.9 116.3 123.2 1,755.7 1,821.0 1,879.4 1,937.0 215.6 226.8 240.2 251.2 1,540.0 1,594.1 1,639.2 1,685.8 1,395.8 1,457.0 1,492.2 1,532.5 144.2 137.1 147.1 153.3 9.4 8.6 9.0 9.1 3,466.3 3,513.0 3,548.1 3,582.6 1979:1 II Ill IV .... 2,007.6 2,044.8 2,095.5 2,154.5 1,445.1 1,477.5 1,519.1 1,561.3 1,210.0 1,236.1 1,270.7 1,305.6 235.0 241.4 248.5 255.7 25.3 23.3 23.9 22.4 156.0 158.6 161.3 164.1 26.0 22.6 22.1 27.1 224.2 224.4 222.5 219.0 -35.1 -40.0 -44.1 -41.4 -5.9 -7.4 -8.3 -8.1 265.2 271.7 274.9 268.5 176.4 182.5 186.6 182.8 131.1 138.3 146.6 160.7 1,996.8 2,041.2 2,108.6 2,179.4 257.8 266.3 279.2 289.8 1,739.1 1,774.9 1,829.3 1,889.7 1,574.9 1,611.9 1,667.1 1,715.6 164.1 163.0 162.2 174.0 9.4 9.2 8.9 9.2 3,620.7 3,607.1 3,628.8 3,657.8 1980:1 II Ill IV .... 2,206.2 2,185.1 2,233.9 2,346.6 1,602.7 1,625.2 1,658.0 1,721.1 1,338.2 1,354.6 1,380.8 1,436.0 264.5 270.6 277.2 285.1 14.6 4.9 13.3 19.7 165.7 159.5 163.7 169.0 32.1 32.3 28.6 32.2 215.0 183.7 189.8 205.4 -53.5 -34.0 -42.3 -38.8 -10.4 -11.3 -11.2 -10.3 278.8 229.0 243.3 254.5 184.0 154.2 162.2 166.0 176.1 179.6 180.6 199.1 2,248.1 2,268.8 2,339.0 2,439.8 289.1 296.7 306.9 323.9 1,959.0 1,972.1 2,032.1 2,115.9 1,766.7 1,769.9 1,828.3 1,891.7 192.3 202.2 203.8 224.2 9.8 10.3 10.0 10.6 3,678.5 3,612.2 3,637.6 3,703.8 1981:1 II Ill IV .... 2,428.7 2,452.2 2,550.0 2,557.3 1,773.9 1,807.6 1,846.6 1,874.8 1,474.5 1,502.1 1,534.9 1,557.6 299.4 305.5 311.7 317.3 19.3 19.5 24.5 18.1 173.7 162.4 165.3 162.2 39.6 38.1 38.8 42.0 218.6 211.7 230.9 214.6 -37.4 -24.3 -18.2 -18.6 -2.7 1.6 7.0 4.8 258.8 234.4 242.0 228.5 170.0 155.1 159.1 154.8 203.6 213.0 243.9 245.6 2,510.6 2,549.5 2,652.3 2,685.1 336.2 348.3 362.7 358.7 2,174.4 2,201.2 2,289.6 2,326.4 1,950.3 1,985.8 2,031.5 2,049.2 224.1 215.5 258.1 277.2 10.3 9.8 11.3 11.9 3,713.5 3,696.6 3,777.0 3,777.2 1982:1 II Ill IV .... 2,560.3 2,606.6 2,618.1 2,626.9 1,898.7 1,917.4 1,937.0 1,950.8 1,573.0 1,586.8 1,601.9 1,611.8 325.7 330.6 335.1 339.0 15.4 14.0 13.1 15.3 155.1 165.5 166.0 175.1 41.6 38.5 40.1 38.0 193.8 206.0 206.5 198.7 -12.9 -4.7 -6.4 -6.0 10.4 11.5 14.8 16.5 196.3 199.2 198.1 188.2 133.3 134.6 132.8 128.9 255.6 265.2 255.4 249.1 2,709.4 2,754.0 2,786.4 2,823.7 359.0 366.5 357.2 363.9 2,350.4 2,387.6 2,429.2 2,459.9 2,086.6 2,113.4 2,159.4 2,218.9 263.8 274.2 269.9 240.9 11.2 11.5 11.1 9.8 3,769.4 3,791.4 3,799.4 3,806.4 1983:1 II Ill IV .... 2,678.9 2,754.6 2,830.2 2,922.3 1,977.8 2,016.0 2,059.8 2,117.3 1,629.2 1,661.4 1,698.7 1,747.8 348.6 354.5 361.2 369.5 14.0 8.9 1.2 4.6 175.0 184.1 193.8 200.2 37.6 37.5 34.8 37.9 219.3 250.2 267.7 279.3 2.2 -7.1 -15.2 -9.8 25.8 30.2 33.3 31.5 191.3 227.0 249.6 257.6 131.2 151.5 164.1 169.7 255.2 257.8 272.9 283.1 2,853.6 2,909.2 2,968.6 3,056.2 358.4 367.5 353.7 364.2 2,495.2 2,541.8 2,614.9 2,692.1 2,256.6 2,329.9 2,392.2 2,454.1 238.6 211.9 222.7 238.0 9.6 8.3 8.5 8.8 3,831.2 3,857.8 3,928.6 4,010.2 1984:1 II Ill IV .... 3,049.0 3,139.4 3,207.5 3,253.2 2,182.5 2,235.1 2,282.6 2,323.5 1,793.6 1,837.6 1,877.1 1,910.9 389.0 397.5 405.4 412.6 20.5 22.2 21.2 22.7 215.3 227.0 236.2 225.1 37.1 35.4 40.1 45.4 305.7 314.8 305.7 312.8 -6.6 -9.8 .3 .2 33.4 47.4 52.2 57.9 278.9 277.2 253.2 254.7 178.0 178.0 165.7 166.2 287.9 305.0 321.7 323.8 3,152.0 3,239.9 3,327.6 3,379.7 370.0 379.6 393.5 405.6 2,782.0 2,860.3 2,934.1 2,974.1 2,506.0 2,563.3 2,601.1 2,654.1 276.0 297.0 332.9 320.0 9.9 10.4 11.3 10.8 4,103.0 4,182.4 4,258.8 4,286.1 1985:1 II Ill IV .... 3,315.6 3,352.4 3,403.9 3,449.9 2,366.4 2,402.7 2,442.0 2,489.7 1,946.1 1,976.0 2,008.9 2,049.7 420.3 426.7 433.1 440.0 23.2 21.0 20.0 22.0 243.1 243.0 245.4 250.5 41.7 40.3 37.9 36.5 315.3 319.2 335.5 319.8 .6 .3 7.2 -8.0 65.7 68.6 68.5 66.2 249.1 250.3 259.9 261.6 153.7 156.6 160.4 164.1 325.7 326.3 323.1 331.5 3,447.2 3,489.3 3,528.1 3,595.4 442.4 399.0 432.4 440.2 3,004.9 3,090.4 3,095.7 3,155.2 2,721.3 2,772.6 2,842.1 2,879.6 283.6 317.8 253.5 275.6 9.4 10.3 8.2 8.7 4,287.6 4,368.7 4,346.6 4,388.3 1986:1 II Ill IV .... 3,487.7 3,503.5 3,537.6 3,574.5 2,522.5 2,545.8 2,582.9 2,631.6 2,075.7 2,093.4 2,123.6 2,164.8 446.8 452.3 459.2 466.8 20.0 20.2 25.9 26.0 251.9 255.5 259.4 255.6 36.6 34.8 30.7 26.8 313.5 302.5 293.2 293.7 19.7 13.9 5.4 -10.9 56.8 51.5 47.4 45.3 237.0 237.0 240.4 259.3 133.2 133.8 136.2 144.4 343.2 344.7 345.5 340.9 3,650.9 3,688.2 3,736.0 3,774.7 437.9 441.4 451.7 468.9 3,213.0 3,246.8 3,284.3 3,305.9 2,922.5 2,955.9 3,028.9 3,071.7 290.5 291.0 255.4 234.2 9.0 9.0 7.8 7.1 4,444.5 4,489.3 4,507.9 4,504.5 1987:1 II Ill IV .... 3,665.3 3,756.0 3,849.3 3,943.0 2,681.8 2,725.9 2,773.7 2,841.0 2,207.1 2,244.2 2,284.8 2,344.8 474.7 481.7 488.9 496.2 27.1 29.1 29.1 30.8 267.8 272.1 278.2 281.3 32.7 30.8 37.8 41.9 309.7 342.5 364.3 370.0 -13.9 -19.2 -15.7 -16.2 46.9 48.1 49.7 48.1 276.6 313.5 330.3 338.0 164.6 187.3 195.6 202.6 346.2 355.6 366.2 378.1 3,852.2 3,915.3 3,992.4 4,090.1 463.7 524.8 502.7 520.9 3,388.5 3,390.5 3,489.6 3,569.2 3,111.8 3,182.6 3,247.8 3,284.7 276.8 207.9 241.9 284.5 8.2 6.1 6.9 8.0 4,556.9 4,512.7 4,600.7 4,659.6 1988:1 II Ill IV .... 4,023.3 4,107.3 4,186.9 4,286.8 2,888.4 2,951.8 3,001.3 3,053.7 2,379.6 2,434.7 2,476.4 2,520.1 508.8 517.1 524.9 533.6 32.9 26.8 28.0 16.5 296.6 310.4 318.3 325.6 44.9 41.5 40.0 50.0 381.1 400.4 408.5 430.2 -18.3 -25.5 -26.1 -18.8 47.8 46.4 45.3 41.6 351.6 379.4 389.4 407.4 225.4 244.1 249.1 260.5 379.4 376.4 390.8 410.9 4,156.8 4,227.7 4,308.7 4,395.1 514.5 516.6 519.1 528.5 3,642.3 3,711.1 3,789.7 3,866.6 3,362.2 3,422.5 3,490.3 3,565.3 280.1 288.6 299.3 301.3 7.7 7.8 7.9 7.8 4,724.1 4,758.9 4,801.9 4,851.4 See footnotes at the end of the table. April 2000 • SURVEY OF CURRENT BUSINESS 145 Table 4.—National Income and Disposition of Personal Income—Continued [Billions of dollars; quarterly estimates are seasonally adjusted at annual rates] Compensation of employees Year and quarter National income Total Wage and salary accruals Supplements to wages and salaries Proprietors' income with IVA and CCAdj. Farm Nonfarm Rental income of persons with CCAdj. Corporate profits with IVA and CCAdj. Total IVA CCAdj. Profits before tax Profits after tax Net interest Personal income Less: Personal tax and nontax payments Equals: DPI Less: Personal outlays Equals: Personal saving Saving as a percentage of DPI Real DPI 1 1989:1 II Ill IV .... 4,350.2 4,375.0 4,396.4 4,446.7 3,097.0 3,126.6 3,163.6 3,216.9 2,555.8 2,577.3 2,605.5 2,648.6 541.2 549.3 558.1 568.3 35.7 31.5 29.2 32.1 330.8 326.3 326.3 335.0 46.6 44.9 37.4 33.1 406.7 397.4 390.0 388.6 -33.7 -18.9 -.4 -12.3 37.8 36.9 34.1 32.5 402.7 379.3 356.4 368.4 249.3 235.5 223.4 232.8 433.3 448.3 449.8 440.9 4,517.5 4,573.5 4,617.4 4,690.7 565.3 578.9 588.4 601.3 3,952.2 3,994.5 4,029.0 4,089.4 3,623.3 3,689.2 3,746.6 3,798.7 328.9 305.3 282.4 290.7 8.3 7.6 7.0 7.1 4,903.5 4,891.0 4,902.7 4,928.8 1990:1 || III IV .... 4,552.9 4,645.0 4,675.6 4,695.0 3,284.1 3,343.4 3,383.7 3,393.0 2,701.6 2,750.4 2,781.8 2,784.7 582.6 593.0 601.9 608.3 33.2 31.5 30.9 29.0 343.3 347.2 355.9 353.0 42.1 45.3 53.2 55.8 403.2 427.0 401.9 402.2 -6.6 2.0 -30.2 -19.8 22.3 22.1 19.4 15.9 384.4 402.9 412.7 406.1 250.7 261.8 264.7 266.5 447.1 450.5 450.1 462.0 4,800.8 4,879.3 4,951.4 4,981.4 595.7 607.6 617.3 618.0 4,205.1 4,271.7 4,334.1 4,363.5 3,879.2 3,932.4 4,001.0 4,024.5 325.9 339.4 333.1 339.0 7.8 7.9 7.7 7.8 5,001.6 5,026.6 5,032.7 4,995.8 1991:1 II Ill IV .... 4,703.5 4,737.1 4,773.0 4,812.6 3,403.5 3,436.2 3,471.0 3,509.0 2,786.7 2,810.7 2,835.7 2,863.7 616.8 625.5 635.3 645.3 26.5 27.7 23.8 27.5 346.7 355.4 361.3 367.9 53.9 56.4 57.6 57.8 432.9 429.0 428.3 434.7 11.4 8.6 1.4 -1.7 10.5 10.2 9.9 10.0 410.9 4102 417.0 426.4 281.1 277.9 280.9 290.3 440.0 432.5 430.9 415.7 4,999.9 5,064.1 5,110.1 5,167.4 600.7 606.5 611.6 623.2 4,399.1 4,457.5 4,498.5 4,544.2 4,035.9 4,090,5 4,130.2 4,156.0 363.2 367.1 368.3 388.1 8.3 8.2 8.2 8.5 4,999.5 5,033.3 5,045.4 5,053.8 1992:1 II Ill IV .... 4,935.1 4,995.5 4,951.9 5,097.2 3,574.8 3,625.4 3,668.0 3,710.9 2,913.3 2,952.4 2,984.0 3,017.4 661.4 673.0 683.9 693.4 31.4 33.6 33.2 32.5 389.2 399.1 403.5 414.9 59.3 63.8 53.2 76.8 469.8 468.6 401.4 472.5 2.2 -10.6 »3.4 .4 9.0 8.1 -6.0 6.1 458.6 471.0 410.7 466.0 314.2 320.9 281.9 316.8 410.6 405.0 392.7 389.6 5,276.8 5,352.2 5,390.7 5,541.8 614.7 627.3 638.0 663.1 4,662.0 4,724.9 4,752.7 4,878.7 4,255.3 4,302.9 4,356.2 4,449.1 406.7 421.9 396.5 429.6 8.7 8.9 8.3 8.8 5,138.8 5,172.5 5,174.2 5,271.5 1993:1 II Ill IV .... 5,150.2 5,232.6 5,259.4 5,365.5 3,750.6 3,795.5 3,835.1 3,876.3 3,044.8 3,077.3 3,107.0 3,137.4 705.9 718.2 728.1 738.9 29.5 34.4 22.9 33.7 426.4 430.0 432.5 437.9 84.7 90.3 90.8 97.6 472.4 503.6 508.5 557.6 -&1 -6.3 .4 -4.1 1.8 3.6 2.3 8.8 476.6 506.3 505.8 552.8 325.6 340.8 343.5 370.1 386.6 378.8 369.5 362.4 5,465.8 5,595.3 5,630.3 5,748.5 644.0 671.0 681.8 701.7 4,821.7 4,924.2 4,948.5 5,046.8 4,481.8 4,550.5 4,617.1 4,688.6 340.0 373.7 331.5 358.2 7.1 7.6 6.7 7.1 5,181.2 5,258.6 5,266.8 5,338.5 1994:1 II Ill IV .... 5,373.4 5,525.2 5,608.7 5,719.9 3,943.5 3,994.9 4,032.8 4,093.6 3,190.2 3,233.4 3,267.7 3,325.9 753.3 761.5 765.1 767.7 40.6 33.9 27.7 25.5 427.9 445.6 448.1 457.0 98.0 112.0 116.2 115.2 498.8 569.3 598.5 626.2 -8.3 -10.2 -15.7 -15.6 -7.8 16.8 18.8 21.1 514.8 562.7 595.4 620.7 349.4 379.8 401.0 416.6 364.6 369.6 385.4 402.5 5,713.7 5,860.8 5,935.3 6,042.4 695.4 732.2 724.3 738.5 5,018.3 5,128.6 5,211.0 5,303.9 4,744.0 4,809.1 4,886.9 4,959.7 274.3 319.5 324.1 344.2 5.5 6.2 6.2 6.5 5,293.2 5,381.2 5,420.9 5,493.4 1995:1 II Ill IV .... 5,775.0 5,833.7 5,920.0 5,978.1 4,142.7 4,178.8 4,224.3 4,264.1 3,379.6 3,417.2 3,463.6 3,503.8 763.1 761.6 760.7 760.2 21.4 19.6 20.5 27.3 467.2 471.8 479.2 483.9 116.9 115.1 116.6 123.2 630.0 655.5 692.8 696.7 -02.5 -58.2 -3.8 -2.6 19.4 18.4 19.2 17.5 643.2 665.3 683.5 681.8 440.1 456.6 464.8 468.5 396.8 392.8 386.7 383.0 6,109.9 6,163.3 6,225.9 6,304.6 751.8 780.5 781.6 799.5 5,358.1 5,382.8 5,444.4 5,505.1 5,012.1 5,091.3 5,158.4 5,218.8 346.0 291.5 285.9 286.3 6.5 5.4 5.3 5.2 5,515.4 5,509.0 5,546.6 5,585.3 1996:1 II Ill ..:.. IV .... 6,066.6 6,177.5 6,254.5 6,342.9 4,297.4 4,367.8 4,427.8 4,489.4 3,537.4 3,604.6 3,660.9 3,717.6 760.0 763.2 766.8 771.8 31.1 36.3 38.0 31.7 494.8 510.3 515.5 521.4 128.4 129.0 130.1 131.4 736.7 748.6 755.0 775.8 2.1 -1.7 4.7 7.1 21.4 23.9 25.4 27.7 713.2 726.3 724.9 741.0 493.5 501.0 500.9 515.4 378.2 385.5 388.1 393.3 6,405.1 6,509.4 6,597.1 6,677.9 830.7 872.5 877.3 898.1 5,574.4 5,637.0 5,719.8 5,779.7 5,292.2 5,383.9 5,433.7 5,512.6 282.2 253.1 286.1 267.1 5.1 4.5 5.0 4.6 5,622.0 5,649.4 5,709.7 5,729.9 1997:1 II Ill IV .... 6,474.4 6,582.3 6,695.3 6,789.9 4,566.1 4,631.3 4,705.2 4,800.3 3,785.3 3,844.3 3,911.3 3,997.9 780.8 787.0 793.9 802.4 32.5 30.2 28.9 26.3 536.6 544.9 554.0 561.0 132.4 132.0 129.4 126.7 804.4 832.0 863.2 854.3 9.3 11.2 4.9 4.0 31.8 34.3 36.2 38.8 763.3 786.5 822.1 811.6 534.4 553.3 575.3 567.4 402.3 411.8 414.6 421.2 6,807.6 6,900.6 6,993.5 7,102.7 934.2 954.4 978.6 1,006.0 5,873.4 5,946.2 6,014.9 6,096.7 5,609.9 5,650.2 5,759.4 5,827.4 263.4 296.1 255.5 269.3 4.5 5.0 4.2 4.4 5,785.1 5,840.7 5,889.6 5,951.5 1998:1 II Ill IV .... 6,887.3 6,979.1 7,090.1 7,198.6 4,889.4 4,967.0 5,053.6 5,134.7 4,079.6 4,149.7 4,227.9 4,300.8 809.8 817.3 825.7 833.9 17.5 18.7 22.9 41.1 569.1 575.5 583.6 596.0 129.5 133.9 139.3 147.0 858.4 849.4 846.8 839.0 29.5 13.6 19.8 20.8 40.1 43.8 46.9 51.6 788.9 792.0 780.1 766.7 548.9 550.9 535.8 531.0 423.3 434.6 444.0 440.8 7,194.7 7,296.3 7,413.6 7,530.8 1,031.2 1,058.0 1,088.3 1,113.0 6,163.5 6,238.3 6,325.3 6,417.8 5,914.7 6,020.9 6,100.5 6,190.3 248.9 217.5 224.8 227.5 4.0 3.5 3.6 3.5 6,013.0 6,069.5 6,136.9 6,209.0 1999:1 II Ill IV .... 7,339.4 7,428.1 7,527.0 7,690.9 5,217.7 5,287.1 5,373.6 5,448.3 4,371.5 4,432.6 4,509.4 4,575.6 846.2 854.5 864.2 872.7 32.5 34.1 21.0 37.6 607.5 621.2 633.0 647.4 148.6 148.8 139.0 147.3 886.9 880.5 884.1 919.4 13.3 -13.6 -26.7 -24.9 55.5 58.2 57.0 58.0 818.1 835.8 853.8 886.3 570.1 581.4 594.3 610.6 446.3 456.4 476.3 491.0 7,630.2 7,732.6 7,831.4 7,972.9 1,124.8 1,139.4 1,160.4 1,183.8 6,505.4 6,593.2 6,671.0 6,789.1 6,310.3 6,425.2 6,531.5 6,666.3 195.1 168.0 139.5 122.8 3.0 2.5 2.1 1.8 6,271.0 6,320.7 6,366.2 6,439.6 1. Real DPI in chained (1996) dollars. Derived by deflation using the implicit price deflator for personal consumption expenditures. CCAdj. Capital consumption adjustment. DPI Disposable personal income. IVA Inventory valuation adjustment. 146 April SURVEY OF CURRENT BUSINESS 2000 U.S. International Transactions, Fourth Quarter and Year 1999 By Christopher L Bach FOURTH QUARTER 1999 ( 7 HE U.S. current-account deficit—the comJL bined balances on trade in goods and services, income, and net unilateral current transfers—increased to $99.8 billion in the fourth quarter of 1999 from $89.1 billion (revised) in the third quarter (table A).1 The goods and services deficit, the income deficit, and net unilateral current transfers all contributed to the increase. In the financial account, net recorded inflows—the difference between changes in U.S.1. Quarterly estimates of U.S. current- and financial-account components are seasonally adjusted in cases in which statistically significant seasonal patterns are present. The accompanying tables present both adjusted and unadjusted estimates. owned assets abroad and changes in foreignowned assets in the United States—were $90.9 billion in the fourth quarter, down slightly from $94.3 billion in the third quarter. Financial inflows fell more than financial outflows. The statistical discrepancy—errors and omissions in recorded transactions—was a positive $9.6 billion in the fourth quarter, compared with a negative $5.4 billion in the third quarter. The following are highlights for the fourth quarter of 1999: • Goods exports increased; as a result, goods exports in the second half of the year were well above their level in the first half, when Table A.—Summary of U.S. International Transactions [Millions of dollars, seasonally adjusted] 1999 1998 Lines in tables 1 and 10 in which transactions are included are indicated in ( ) Line 1998 1999" Change: 1998-99 Ch hange: \\jp 1999 III-IV Current account 41,713 302,289 298,463 291,493 299,985 295,503 300,939 313,183 324,317 11,134 12,775 170,665 165,198 164,259 170,124 164,008 165,577 173,680 179,756 6,076 13,406 65,166 66,691 65,025 66,780 67,559 68,597 69,574 71,336 1,762 66,765 69,929 73,225 3,296 15,532 66,458 66,574 62,209 63,081 Exports of goods and services and income receipts (1) . Goods, balance of payments basis (3) Services (4) Income receipts (12) 1,192,231 670,246 263,661 258,324 1,233,944 683,021 277,067 273,856 Imports of goods and services and income payments (18) Goods, balance of payments basis (20) Services (21) Income payments (29) -1,368,718 -917,178 -181,011 -270,529 -1,526,281 -1,030,152 -197,484 -298,645 -157,563 -112,974 -16,473 -28,116 -335,380 -225,541 -43,628 -66,211 -44,075 -46,581 -2,506 -9,927 617 -172 -789 143 Unilateral current transfers, net (35) . -340,977 -228,698 -45,152 -67,127 -344,182 -229,228 -45,780 -69,174 -348,180 -233,711 -46,455 -68,014 -354,099 -238,389 -47,355 -68,355 -370,921 -250,168 -49,296 -71,457 -391,060 -265,623 -50,219 -75,218 ^10,204 -19,144 -275,972 -10,349 -50,616 -397 -83,616 -8,398 -9,886 -10,787 -13,474 -10,306 -11,175 -11,208 -13,892 -2,684 Capital and financial account Capital account 10 Capital account transactions, net (39) 160 148 166 166 178 175 -691 -666 Financial account U.S.-owned assets abroad, net (increase/financial outflow (-)) (40) U.S. official reserve assets, net (41) U.S. Government assets, other than official reserve assets, net (46) U.S. private assets, net (50) Foreign-owned assets in the United States, net (increase/ financial inflow (+)) (55) Foreign official assets in the United States, net (56) Other foreign assets in the United States, net (63) Statistical discrepancy (sum of above items with sign reversed) (70) Memoranda: Balance on goods (71) Balance on services (72) Balance on goods and services (73) Balance on income (74) Unilateral current transfers, net (75) Balance on current account (76) Capital account transactions, net (39) Net financial flows (40 and 55) r Revised. p Preliminary. -292,818 -6,784 -372,567 -79,749 -59,599 -120,517 -62,097 -50,607 -15,394 -154,959 -113,388 -88,822 24,566 1,572 -378 1,950 1,159 -444 -1,945 -2,026 -2,369 4,068 8,749 15,533 -429 -285,605 594 1,280 -392 64 -686 -50 185 -483 -365 119 -81 -380,951 -95,346 -59,074 -118,089 -60,256 -48,188 -19,581 -155,726 -114,652 -90,988 23,664 502,637 -21,684 524,321 750,765 248,128 44,570 66,254 706,195 181,874 10,126 -39,108 ^9,234 96,817 162,466 93,547 149,805 11,004 -10,551 ^6,489 24,352 85,813 173,017 140,036 125,453 88,968 274,379 207,735 179,686 -28,049 -628 11,881 28,609 16,728 4,708 84,260 275,007 195,854 151,077 -44,777 -4,838 -38,441 -5,437 -246,932 -347,131 -100,199 -54,876 -63,500 -64,969 -63,587 -74,381 -64,591 82,650 79,583 -3,067 21,538 21,539 19,245 20,325 20,204 19,301 -164,282 -267,548 -103,266 -33,338 -41,961 -45,724 -43,262 -54,177 -65,290 -12,205 -24,789 -12,584 -553 -6,965 -4,933 -4,419 -4,692 247 -44,075 -46,581 -2,506 -9,927 -9,886 -10,787 -13,474 -10,306 -11,175 -220,562 -338,918 -118,356 -43,018 -52,400 -63,476 -61,669 -68,902 -81,157 617 160 178 148 143 -789 -172 166 166 209,819 378,198 168,379 37,218 41,949 31,450 99,198 73,574 119,420 -91,943 19,355 -72,588 -5,289 -11,208 -89,085 175 94,347 5,657 10,291 31,878 -37,695 9,606 15,043 -96,216 20,720 -75,496 -10,391 -13,892 -99,779 -691 90,864 -4,273 1,365 -2,908 -5,102 -2,684 -10,694 -666 -3,483 they were weak. Goods imports continued to rise strongly. • Claims reported by U.S. banks increased sharply to meet a step-up in demand for credit abroad. Liabilities reported by U.S. banks reflected a strong demand for funds, partly to finance a sharp acceleration in U.S.commercial and industrial loans. • Net foreign purchases of U.S. securities other than U.S. Treasury securities remained exceptionally strong. Transactions in U.S. Treasury securities shifted to net sales. • Net financial inflows for foreign direct investment in the United States also remained strong, though they were not boosted by inflows from large-scale mergers as they were in the two previous quarters. 147 April 2000 SURVEY OF CURRENT BUSINESS CHART 1 Nominal Indexes of Foreign Currency Price of the US. Dollar January 1999=100 120 80 130 f U.S. dollar in exchange markets 110 In the fourth quarter, the dollar depreciated 2 percent on a nominal, trade-weighted quarterly average basis against a group of 7 major currencies that trade widely in international markets (table B, chart 1). The dollar depreciated 8 percent against the Japanese yen and it appreciated 1 percent against the euro. The Japanese yen appreciated sharply in the fourth quarter, as it had in the third; by the quarter's end, the yen was 15 percent above its level early in 1999 and exceeded its high of 2 years ago. 100 i ' 120 i i i Japanese yen r" 1 90 German mark 80 70 Euro , , ' ' " ' , , , ,,l 1995 1 1996 Inn 1997 1998 1999 Indexes prepared by SEA from weekly data. Data: Federal Reserve Board Note-See table 8 for definition of indexes. U.S. Department of Commerce, Bureau of Economic Analysis Table B.—Indexes of Foreign Currency Price of the U.S. Dollar [January 1999=100] 1998 Nominal:' Broad2 Major Other Real:' Broad 2 Major Other 1998 1999 1999 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. currencies3 important trading partners1 100.3 101.3 99.0 101.4 101.7 100.9 102.1 104.1 99.7 101.7 103.0 100.1 100.7 101.0 100.4 99.8 101.0 98.4 100.0 100.0 100.0 101.5 101.5 101.4 102.7 103.6 101.4 102.1 103.8 100.0 101.9 103.8 99.5 102.4 104.7 99.6 102.4 104.9 99.4 101.6 102.8 100.1 101.1 101.3 100.8 100.6 100.2 101.2 100.8 101.2 100.3 100.8 101.6 99.8 currencies3 important trading partners' 100.5 100.7 100.1 101.2 101.8 100.5 102.3 104.3 99.9 102.1 103.7 100.3 101.0 102.0 99.7 99.8 100.5 98.9 100.0 100.0 100.0 101.1 101.6 100.5 102.5 103.7 101.0 102.4 104.1 100.3 102.0 104.0 99.6 102.6 104.9 99.7 102.9 105.5 99.7 102.0 103.4 100.4 101.4 102.1 100.7 100.9 101.1 100.7 101.1 102.3 99.5 101.0 102.5 99.0 Selected currencies: (nominal)5 Canada European currencies: Germany France Italy Euro area 6 United Kingdom Switzerland Japan Mexico Brazil 101.6 99.5 96.9 97.8 96.9 101.6 100.0 98.6 99.9 97.9 96.2 96.7 98.0 98.3 97.2 97.2 96.6 96.9 98.6 98.6 98.6 n.a. 98.5 98.2 105.5 98.8 79.1 103.3 103.3 103.3 103.3 101.1 102.9 102.8 98.3 117.8 109.7 109.7 109.7 109.7 102.7 109.3 106.7 93.3 113.7 110.5 110.5 110.5 110.5 103.0 110.2 99.8 92.5 123.2 111.7 111.7 111.7 111.7 101.2 111.3 92.1 93.5 126.6 99.0 98.9 99.0 n.a. 98.7 98.2 103.3 97.8 79.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 103.5 103.5 103.5 103.5 101.4 103.0 103.0 98.8 127.4 106.5 106.5 106.5 106.5 101.8 105.8 105.5 96.1 126.0 108.3 108.3 108.3 108.3 102.5 108.0 105.7 93.1 112.6 109.0 109.0 109.0 109.0 102.1 108.8 107.7 92.8 111.5 111.7 111.7 111.7 111.7 103.4 111.0 106.6 93.9 116.9 111.8 111.8 111.8 111.8 104.7 111.7 105.3 92.5 119.2 109.3 109.3 109.3 109.3 102.7 108.9 99.9 92.8 124.7 110.4 110.4 110.4 110.4 101.5 110.1 94.3 92.2 125.6 108.3 108.3 108.3 108.3 99.6 107.5 93.5 94.5 130.2 112.2 112.2 112.2 112.2 101.8 112.1 92.4 93.0 127.7 114.6 114.6 114.6 114.6 102.3 114.3 90.5 93.1 122.0 1. For more information on the nominal and real indexes of the foreign exchange value of the U.S. dollar, see Federal Reserve Bulletin, vol. 84 (October 1998): 811-18. 2. Weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group of U.S. trading partners, including the currencies of the euro-area countries, Australia, Canada, Japan, Sweden, Switzerland, United Kingdom, Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia, and Russia. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA. 3. Weighted average ol the foreign exchange value of the U.S. dollar against broad-index currencies that circulate widely outside the country of issue, including the currencies of euro-area countries, Australia, Canada, Japan, Sweden, Switzerland, and the United Kingdom. The weight for each currency is its broad-index weight divided by the sum of the broad-index weights for all of the currencies included in the major currency index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA. 4. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that do not circulate widely outside the country of issue, including the currencies of Argentina, Brazil, Chile, Colombia, Mex- ico, Venezuela, China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia, and Russia. The weight for each currency is its broad-index weight divided by the sum of the broad-index weights for ail of the currencies included in the other important trading partners index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA. 5. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA. 6. The euro area includes Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. Exchange rates (but not index values with January 1999=100) for the individual euro-area currencies can be derived from the euro exchange rate by using the lixed conversion rates (in currencies per euro) as shown below: 13.7603 Austrian schillings: 40.3399 Belgian francs: 5.94573 Finnish markkas: 6.55957 French francs: 1.95583 German marks:,787564 Irish pounds: 1936.27 Italian lira;40.3399 Luxembourg francs: 2.20371 Netherlands guilders: 200.482 Portuguese escudos: 166.386 Spanish pesetas. 148 • April 2000 SURVEY OF CURRENT BUSINESS Economic reports released in the fourth quarter continued to point to recovery in the Japanese economy, although the strength of the recovery appeared to be very limited. Partly in anticipation of improving conditions, the Nikkei stock market, Economic reports released in the fourth quarter continued to point to recovery in the Japanese economy, although the strength of the recovery appeared to be very limited. Partly in anticipation of improving conditions, the Nikkei stock market, which had been rising for some time, reached a 2year high. The more positive economic environment attracted large amounts of portfolio investment to Japan, including capital from the United States. During the quarter, there were several publicly confirmed reports of intervention in the foreign exchange markets by Japanese authorities to limit the yen's appreciation. The dollar appreciated against the euro. U.S. economic growth remained strong, raising bank credit demand and interest rates and leading to a tightening of monetary conditions in mid-November, when the Federal Reserve raised the target federal funds rate 25 basis points to 5.50 percent. Nonetheless, U.S. stock prices continued to rise to record levels, and economic reports released in the quarter gave no indication that economic growth might slow in the near future. In contrast, though recovery in Europe was more apparent than earlier in the year and the rise in demand for credit led to small increases in market and official interest rates, economic growth was expected to remain restrained and thereby put little pressure on interest rates. Consequently, in November and December, interest-rate differentials moved more in favor of U.S. assets, which led to capital inflows to the United States and to appreciation of the dollar (charts 2 and 3). CHART 2 CHART 3 Short-Term Interest Rates Long-Term Interest Rates Percent 10 Percent 10 U.S. and Foreign Long-Term Government Interest Rates' U.S. and Foreign Short-Term Interest Rates' _- United Kingdom Q Short-Term Interest-Rale Differentials' (Plus (+) Indicates Differentials in Favor of U.S. Dollar Assets) \ \ M I ) ) ) I I I I I I I 1 I ) I 1 1 I I I I t Long-Term Interest-Rate Differentials2 (Plus (+) Indicates Differentials in Favor of U.S. Dollar Assets) Euro area, ' Germany United Kingdom -2 United Kingdom' n 1995 1996 I 199? 1998 1 Three-month interest rates. 2, U.S. interest rales less respective toreign interest rates. Data: Federal Reserve Board. U.S. Department of Commerce, Bureau of Economic Analysis 1999 1995 1996 1997 1998 1. Long-term government bonds, 10-year maturities 2. US. interest rates less respective foreign Interest rates: Data: Federal Reserve Board. U.S. Department of Cwnmeree, Bureau ot Economic Analysis 1999 SURVEY OF CURRENT BUSINESS Current Account Goods and services The deficit on goods and services increased to $75.5 billion in the fourth quarter from $72.6 billion in the third. The deficit on goods increased $4.3 billion, to $96.2 billion, and the surplus on services increased $1.4 billion, to $20.7 billion. Goods.—The deficit on goods increased to $96.2 billion in the fourth quarter from $91.9 billion in the third. The increase resulted from a larger increase in imports than exports (table A). Exports.—Exports increased $6.1 billion, or 3 percent, to $179.8 billion in the fourth quarter. Quantities increased 3 percent, and prices were unchanged.2 In value, nonagricultural exports increased $6.4 billion, or 4 percent, to $167.2 billion. Nonagricultural industrial supplies and materials increased $3.7 billion. Chemicals accounted for nearly onethird of the increase. Nonmonetary gold, energy products, and paper also rose. Capital goods increased $1.2 billion. Semiconductors accounted for nearly half of the increase and have risen strongly for six consecutive quarters. Electric generating machinery and industrial, agricultural, and service industry machinery also increased; both have risen strongly in each of the last three quarters. Civilian aircraft, engines, and parts changed little, and telecommunications equipment and computers, peripherals, and parts decreased. Consumer goods increased $0.8 billion. Automotive vehicles, engines, and parts increased $0.2 billion. Agricultural products decreased $0.3 billion, or 2 percent, to $12.6 billion. Corn, mainly to the Republic of Korea and Japan, more than accounted for the decrease. Soybeans also fell. These decreases were partly offset by stronger exports of meat products and poultry and of raw cotton. Imports.—Imports increased $10.3 billion, or 4 percent, to $276.0 billion in the fourth quarter. Quantities and prices each increased 2 percent. In value, nonpetroleum imports increased $8.5 billion, or 3 percent, to $254.4 billion. Strength in imports was spread across all major commodity categories. Capital goods increased $3.0 billion. The same high-technology products that fueled growth in the first three quarters continued to do 2. Quantity (real) estimates are calculated using a chain-type Fisher formula with annual weights for all years and quarters except for the most recent year, which is calculated using quarterly weights. Real estimates are expressed as chained (1996) dollars. Price indexes (1996=100) are also calculated using a chain-type Fisher formula. April 2000 • so in the fourth quarter. Over half of the fourthquarter increase was accounted for by semiconductors, by communications equipment, and by computers, peripherals, and parts. Industrial, agricultural, and service industry machinery also increased strongly. Consumer goods increased $2.8 billion. Nonpetroleum industrial supplies and materials increased $2.3 billion, mostly in nonferrous metals, but also in steelmaking materials, iron and steel products, chemicals, and paper. Automotive vehicles, engines, and parts increased only $0.2 billion, but remained at historically high levels. Petroleum imports increased $1.9 billion, or 10 percent, to $21.5 billion—the highest level since the first quarter of 1981. The average price per barrel jumped to $22.00—the highest level since the fourth quarter of 1996—from $18.63; prices have risen sharply since the first quarter of 1999, when major petroleum producers curbed production in an effort to boost prices. This cut in production, coupled with increases in world demand, also resulted in a drawdown of worldwide inventories. The average number of barrels imported daily decreased to 10.68 million from 11.49 million. U.S. domestic production and consumption increased, and inventories declined. Balances by area.—The deficit on goods increased $4.3 billion, to $96.2 billion in the fourth quarter, compared with a $7.4 billion increase in the third.3 Higher deficits with industrial countries more than accounted for the fourth-quarter increase; the deficit with Western Europe was up $2.0 billion; that with Canada, up $2.0 billion; and that with Japan, up $1.6 billion. These higher deficits were partly offset by lower deficits with Asia and with Latin America; the lower deficit with Latin America was more than accounted for by Mexico. Services.—The surplus on services increased to $20.7 billion in the fourth quarter from $19.4 billion in the third (table A). Most major categories of services exports increased. For services imports, travel, passenger fares, and "other" transportation more than accounted for the increase. Foreign visitors spent $19.3 billion on travel to the United States, up 4 percent. Receipts from 3. Seasonally adjusted estimates for exports for areas and countries are derived by applying seasonal factors for total U.S. agricultural and nonagricultural exports to the unadjusted agricultural and nonagricultural exports for areas and countries and then summing the seasonally adjusted estimates. Seasonally adjusted estimates for imports for areas and countries are derived by applying seasonal factors for total U.S. petroleum and nonpetroleum imports to the unadjusted petroleum and nonopetroleum imports for areas and countries and then summing the seasonally adjusted estimates. (The seasonal factors are derived from the seasonal adjustment of U.S. exports and U.S. imports by fivedigit end-use commodity category.) 149 150 • April 2000 SURVEY OF CURRENT BUSINESS overseas visitors were $16.5 billion, up 5 percent, as a result of an increase in the number of visitors. Receipts from Canada decreased 4 percent, and receipts from Mexico were unchanged. Payments by U.S. travelers were $15.4 billion, up 3 percent. Payments for overseas travel were $12.4 billion, up 4 percent. Payments to Canada were up 2 percent, and payments to Mexico were down 4 percent. Passenger fare exports were $5.5 billion, up 4 percent, and passenger fare imports were $5.5 billion, up 3 percent. "Other" transportation exports were $7.3 billion, up $0.4 billion. The increase was mostly due to an increase in export volume that resulted in increases in both freight and port expenditures receipts. Increased economic activity in the United States, Europe, and Asia boosted the demand for bulk commodities such as iron ore and coal, and freight rates increased. "Other" transportation payments were $9.3 billion, up 1 percent. After two quarters of large rises, freight payments slowed sharply in response to smaller increases in export and import volumes in the fourth quarter. Royalties and license fees exports were unchanged at $9.3 billion, and royalties and license fees imports were virtually unchanged at $3.1 billion. "Other" private services exports increased $0.6 billion, to $25.7 billion; affiliated services (transactions between affiliated companies) changed little, and unaffiliated transactions increased, partly reflecting an increase in financial services as a result of higher foreign activity in U.S. financial markets. "Other" private services imports decreased $0.3 Revisions to the Estimates for the Third Quarter of 1999 The international transactions account estimates for the third quarter were revised to incorporate more complete source data. The current-account deficit was revised to $89.1 billion from $89.9 billion. The goods deficit was revised to $91.9 billion from $92.1 billion (based on updated Census Bureau data); the services surplus was revised to $19.4 billion from $18.3 billion (reflecting newly available source data); the deficit on income was revised to $5.3 billion from $4.9 billion (reflecting updated capital flow and position data); and unilateral current transfers were net outflows of $11.2 billion, virtually unchanged from the previous estimate (based on updated U.S. Government agency reports). Net recorded financial inflows were revised to $94.3 billion from $105.7 billion (reflecting newly available source data). billion to $12.9 billion, largely as a result of a decrease in affiliated services. Transfers under U.S. military agency sales contracts decreased $0.2 billion, to $4.0 billion. Direct defense expenditures abroad decreased $0.1 billion, to $3.7 billion. Income The deficit on income increased to $10.4 billion in the fourth quarter from $5.3 billion in the third (table A). Investment income.—Receipts of income on U.S.owned assets abroad increased to $72.8 billion from $69.5 billion. Much of the increase was attributable to "other" private receipts, but direct investment receipts were also higher. Payments of income on foreign-owned assets in the United States increased to $81.7 billion from $73.3 billion. Direct investment payments, "other" private payments, and U.S. Government payments were all substantially higher. Receipts of income on U.S. direct investment abroad increased to $31.1 billion in the fourth quarter from $30.3 billion in the third. By industry, petroleum earnings increased; growth was mainly in the producing areas, such as the United Kingdom, Norway, and Australia. The increases were partly offset by lower downstream (refining and marketing) earnings in several regions, especially Japan. Manufacturing earnings increased slightly; much of the increase occurred in Latin America and Australia. Earnings of "other" affiliates also increased slightly, mostly due to an increase in earnings of British utility affiliates and Swiss wholesale trading affiliates. These increases were partly offset by a decrease in earnings in banking that was mainly in Asia, and by a decrease in earnings in finance in several financial centers. Payments of income on foreign direct investment in the United States increased to $17.9 billion in the fourth quarter from $13.8 billion in the third. Continued strong expansion in the U.S. economy boosted earnings of manufacturing and of "other" affiliates, largely in wholesale trade. A decrease in petroleum earnings reflected poor results from downstream refiners and marketers. Receipts of income on "other" private investment were $40.9 billion in the fourth quarter, up from $38.4 billion in the third. Higher amounts outstanding for securities and for bank and nonbank claims and a sharp rise in average interest rates accounted for the increase. Interest rates have SURVEY OF CURRENT BUSINESS risen strongly for four consecutive quarters. Payments of income on "other" private investment were $38.6 billion in the fourth quarter, up from $35.4 billion in the third. As with receipts, increases in both amounts outstanding and average interest rates accounted for the rise. Receipts of income on U.S. Government investment were virtually unchanged at $0.7 billion. Payments of income on U.S. Government liabilities were $25.2 billion, up from $24.1 billion, largely as a result of higher average interest rates. Compensation of employees.—-Receipts for com- pensation of U.S. workers abroad were unchanged at $0.5 billion in the fourth quarter. Payments for compensation of foreign workers in the United States were unchanged at $1.9 billion. Unilateral current transfers Unilateral current transfers were net outflows of $13.9 billion in the fourth quarter, up from $11.2 billion in the third (table A). Nearly all of the increase was attributable to U.S. Government grants, which rose to $5.1 billion from $2.7 billion, as a result of cash grants to Israel—$1.4 billion under the credit waiver program to finance military purchases and $1.0 billion for economic support. Not all of the funds allocated to Israel were drawn in the fourth quarter; another $0.5 billion will be drawn over the remainder of the U.S. Government's fiscal year. Capital Account Net capital account transactions were outflows of $0.7 billion in the fourth quarter, in contrast to inflows of $0.2 billion in the third. Fourth-quarter transactions included the transfer of the U.S. Government's assets in the Panama Canal Commission April 2000 • 151 to the Republic of Panama. The assets are valued at the historical cost carried on the books of the Commission.4 Financial Account Net recorded financial inflows—the difference between changes in U.S.-owned assets abroad and changes in foreign-owned assets in the United States—were $90.9 billion in the fourth quarter, down slightly from $94.3 billion (revised) in the third. Financial inflows fell more than financial outflows. U.S.-owned assets abroad Net U.S.-owned assets abroad increased $88.8 billion in the fourth quarter, following an increase of $113.4 billion in the third. Net U.S. purchases of foreign securities were sharply lower, but outflows by U.S. banks were sharply higher. Net outflows for U.S. direct investment abroad were lower. U.S. official reserve assets.—Net U.S. official reserve assets decreased $1.6 billion in the fourth quarter, compared with a decrease of $2.0 billion in the third (table C). Claims reported by banks.—U.S. claims on foreigners reported by U.S. banks increased $37.9 billion 4. In concept, the international transactions estimates and the international investment position estimates should reflect all transactions and positions, respectively, at market, or "current" values. Most transactions and position estimates have long been valued on that basis, and in 1991, BEA revalued direct investment capital and income transactions and positions, and U.S. gold reserves, to "current" values. The U.S. Government's assets in the Panama Canal Commission were not revalued at that time because of resource constraints and problems in the accurate valuation of the holdings. With the completion of the transfer of the U.S. Government's assets in the Panama Canal Commission to the Republic of Panama in the fourth quarter of 1999, BEA will take the opportunity to restate the assets in the Panama Canal Commission to a "current value" and will publish the revised transactions and position estimates as part of its annual revisions at the end of June. Table C—Selected Transactions with Official Agencies [Millions of dollars] 1998 Changes in foreign official assets in the United States, net (decrease-) (table 1, line 56) Industrial countriesl Members of OPEC 2 Other countries Changes in U.S. official reserve assets, net (increase-) (table 1, line 41) 1999p Change: 1998-99 1999 1998 I II III IV I II Illr IVp Change: 1999 III-IV -51,684 -7,025 -11,499 -0,160 44,570 31,609 968 11,993 66,254 38,634 12,467 15,153 11,004 -56 -1,257 12,317 -10,551 -9,740 -657 -154 -46,489 -6,174 -11,642 -28,673 24,352 8,945 2,057 13,350 4,708 3,330 2,058 -680 -628 1,447 1,966 -4,041 11,881 14,008 -983 -1,144 28,609 12,824 -2,073 17,858 16,728 -1,184 -1,090 19,002 -6,784 8,749 15,533 -444 -1,945 -2,026 -2,369 4,068 1,159 1,950 1,572 -078 Activity under U.S. official reciprocal currency arrangements with foreign monetary authorities:3 Foreian drawinas or reoavments i—) net Drawings Repayments . .... r Revised. p Preliminary. 1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. 2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Excludes Ecuador beginning January 1993 and Gabon beginning January 1995. 3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund. 152 • April 2000 SURVEY OF CURRENT BUSINESS in the fourth quarter, following an increase of $8.8 billion in the third. U.S. banks' own claims payable in dollars increased $28.2 billion, following an increase of $7.7 billion. Interbank claims were sharply higher, mainly on offices in the Caribbean, France, and Germany; the higher claims were partly to meet increased credit demands in Europe associated with business consolidations and with an acceleration in economic activity. Yearend lending for balance sheet adjustments at banks, mainly in the Caribbean, also accounted for some of the increase. These increases were partly offset by a decline in lending by U.S. securities dealers, mainly to the Caribbean in October. U.S. banks' domestic customers' claims payable in dollars increased $3.7 billion, following an increase of $6.1 billion. U.S. banks' claims payable in foreign currencies increased $6.0 billion, following a decrease of $5.0 billion. Foreign securities.—Net U.S. purchases of foreign securities slowed sharply, to $7.0 billion in the fourth quarter from $34.4 billion in the third. Sharply reduced merger-related exchanges of stock resulted in a decline in net U.S. purchases of foreign stocks to $11.3 billion from $27.1 billion. Rising long-term interest rates in the U.S. bond market outpaced more slowly rising rates in foreign markets, resulting in a shift to net U.S. sales of foreign bonds of $4.3 billion from net purchases of $7.3 billion. Net U.S. purchases of foreign stocks dropped to $11.3 billion from $27.1 billion. Merger-related exchanges of foreign stocks declined to $5.6 billion from $26.4 billion because of a reduction in largescale mergers. Net purchases of other stocks increased to $5.8 billion from $0.7 billion; the increase was more than accounted for by a very strong step-up in net purchases from Japan. Signs of limited economic recovery in Japan buoyed expectations and resulted in record net purchases of $19.8 billion in Japanese stocks, more than double third-quarter net purchases, as Japanese stock prices rose 14 percent in the fourth quarter and the yen appreciated 8 percent against the U.S. dollar, yielding total appreciation of 22 percent in just 3 months. Net sales of stocks occurred in Western Europe, despite economic recovery and a sharp rise in stock prices. Gross trading in foreign stocks—that is gross purchases plus gross sales— increased 20 percent. Transactions in foreign bonds shifted to net sales of $4.3 billion from net purchases of $7.3 billion. New issues in the United States were $2.9 billion—the lowest since the third quarter of 1990-— compared with $9.7 billion. Rising U.S. long-term bond rates, associated with both sustained economic growth and a tightening of monetary policy, discouraged all but a few Latin American sovereign issues. Transactions in outstanding foreign bonds shifted to net sales of $1.1 billion from net purchases of $4.2 billion. Net sales to Latin America and to Japan more than offset net purchases from the United Kingdom and the euro area. Redemptions of outstanding bonds remained strong, particularly from Latin America and Western Europe. Gross trading in foreign bonds decreased 16 percent. Direct investment—Net financial outflows for U.S. direct investment abroad were $31.3 billion in the fourth quarter, compared with $47.4 billion in the third. Net equity capital outflows dropped to $5.9 billion from $22.8 billion. In the third quarter, but not in the fourth, there were a number of largescale U.S. acquisitions of foreign companies. In addition, an increase in selloffs in the fourth quarter also contributed to the decline. Reinvested earnings increased to $22.0 billion from $21.6 billion. Net intercompany debt outflows increased to $3.4 billion from $3.0 billion. Foreign-owned assets in the United States Net foreign-owned assets in the United States increased $179.7 billion in the fourth quarter, following an increase of $207.7 billion in the third. Inflows for net foreign purchases of U.S. securities other than U.S. Treasury securities remained exceptionally strong, net inflows for direct investment in the United States were sharply lower, but still very sizable, and transactions in U.S. Treasury securities shifted to net sales from net purchases. Foreign official assets.—Net foreign official assets in the United States increased $28.6 billion in the fourth quarter, compared with an increase of $11.9 billion in the third. In the fourth quarter, assets of industrial countries increased $12.8 billion, and assets of developing countries increased $15.8 billion. The increase in industrial countries largely reflected intervention sales of foreign currencies for dollars by a few countries in Asia. The increase in assets of developing countries was widespread, reflecting a variety of factors (table C). April 2000 • SURVEY OF CURRENT BUSINESS Liabilities reported by banks.—U.S. liabilities reported by U.S. banks increased $24.3 billion in the fourth quarter, compared with an increase of $22.6 billion in the third. U.S. banks' own liabilities payable in dollars increased $30.2 billion, following an $8.6 billion increase. Strong demand for funds to finance a sharp acceleration in U.S. commercial and industrial loans and demand for credit abroad, including year end balance sheet adjustments, led to the step-up. In addition, the rise in U.S. short-term interest rates relative to foreign rates encouraged the placement of funds in the United States; most of the funds came from the Caribbean and Western Europe. These increases were partly offset by U.S. securities dealers' repayments of borrowings to banks in Western Europe, mostly to the United Kingdom in December. U.S. banks' custody liabilities payable in dollars increased $6.4 billion in the fourth quarter, mostly to Caribbean banking centers, following a $6.7 billion increase in the third. U.S. banks' foreign currency liabilities decreased $12.3 billion in the fourth quarter after a $7.3 billion increase in the third, as banks repaid earlier borrowings. U.S. Treasury securities.—Foreign transactions in U.S. Treasury securities shifted to net sales of $17.2 billion in the fourth quarter from net purchases of $9.6 billion in the third. Foreigners continued to purchase higher yielding U.S. corporate and U.S. Government agency bonds rather than U.S. Treasury bonds, despite a 40-basis-point rise in the yield on the benchmark 30-year U.S. Treasury bond to 6.48 percent, its highest level in 2 years, and a substantial increase in interest-rate differentials of U.S. Treasury bonds over most foreign government bonds. Most sales of U.S. Treasury bonds occurred in October, when leveraged bond hedge funds in the Caribbean sold large amounts of bonds. Net sales also occurred by several countries in Asia. The net sales were partly offset by purchases by Western Europe. Other U.S. securities.—Net foreign purchases of U.S. securities other than U.S. Treasury securities were especially strong at $90.7 billion in the fourth quarter, but they were down from a record $94.6 billion in the third. Net foreign purchases of U.S. stocks were a record $33.2 billion, up from $23.9 billion. Net foreign purchases of U.S. stocks accelerated, largely from Western Europe, as a result of solid economic expansion, low inflation, and a strong rise in corporate profits in the United States. In this environment, U.S. stock prices accelerated sharply in the fourth quarter, accounting for more than half of the gain for the year; the S & P 500 index gained 15 percent^ the DJIA gained 11 percent, while the NASDAQ—which is weighted heavily with technology issues—gained 48 percent. The increase in foreign purchases occurred despite sharp rises in the broad European stock indexes, which rose even more sharply than the broad U.S. indexes. Gross trading in U.S. stocks increased 32 percent. Net foreign purchases of bonds were $57.5 billion, down from a record $70.7 billion. Net foreign purchases of bonds dropped sharply, mostly as a result of a drop in new bonds issued abroad by U.S. corporations. New issues had been boosted to exceptionally high levels in the third quarter. In addition, a sharp rise in interest rates slowed new borrowing, despite a narrowing in the spread between Eurobond rates and U.S. bond rates. Net foreign purchases of outstanding U.S. corporate and U.S. Government agency bonds changed little. Gross trading in U.S. bonds decreased 2 percent. U.S. currency flows.—Net U.S. currency shipments were $12.2 billion in the fourth quarter, up from $4.7 billion in the third. Large shipments toward yearend may have been partly attributable to cur- Data Availability The current and historical estimates that are presented in tables 1-10 of the U.S. international transactions accounts are available as compressed files on BEA's Web site at <www.bea.doc.gov>; under "International," click on "Data," and look under "Balance of Payments." The estimates are also available from BEA on the following diskettes: • U.S. International Transactions. The most recently released annual and quarterly estimates are available as a 1-year subscription (four installments)—product number IDS-0001, price $80.00. The subscription also includes the diskette of the historical estimates (see below). • U.S. International Transactions, Fourth Quarter 1999. Annual estimates for 1998 and 1999 and quarterly estimates for 1998:I-1999:IV on a single diskette—product number IDN-0243, price $20.00. • U.S. International Transactions, Historical Series. All the available historical annual and quarterly estimates on a single diskette, for some series as far back as 1960—product number IDN-0237, price $20.00. To order, call the BEA Order Desk at 1-800-704-0415 (outside the United States, call 202-606-9666). 153 154 • April 2000 SURVEY OF CURRENT BUSINESS rency ordered as a precaution against possible disruptions from Y2K problems. Direct investment—Net financial inflows for foreign direct investment in the United States were $44.1 billion in the fourth quarter, down from $60.8 billion. A sharp drop in net intercompany debt inflows to $3.2 billion from $18.8 billion was mostly with the United Kingdom, where the decreases were widespread across most industries, and to a much lesser extent with Japan, where the decreases were concentrated in wholesale trade and manufacturing. Net equity capital inflows, at $30.4 billion, w£re down from $36.2 billion, but remained strong; they included several large-scale foreign acquisitions of U.S. companies, largely by Western European purchasers. Partly offsetting were outflows from the sale of several affiliate operations by, and return of capital to, Western European parents. Reinvested earnings increased to $10.6 billion. THE YEAR 1999 The U.S. current-account deficit increased to $338.9 billion in 1999 from $220.6 billion in 1998. Most of the increase was attributable to a rise in the deficit on goods and services, but the deficit on investment income and net unilateral current transfers also increased (table D). In the financial account, net recorded financial inflows were $378.2 billion in 1999, compared with $209.8 billion in 1998. Financial inflows accelerated much more than financial outflows. The statistical discrepancy—errors and omissions in recorded transactions—was a negative $39.1 billion in 1999, compared with a positive $10.1 billion in 1998. The following are highlights for 1999: • The U.S. current-account deficit was substantially higher, mostly as a result of the sizable increase in the deficit on goods. However, the deficit on income was also markedly higher, and the surplus on services fell. • Net financial inflows to the United States increased by a substantial amount, led by inflows into U.S. securities other than U.S. Treasury securities, as exceptional inflows into U.S. corporate bonds and stocks continued. Net inflows for foreign direct investment in the United States also increased by a substantial amount, as an especially high number of large-scale acquisitions of U.S. companies by foreign companies were completed. These acquisitions were just one aspect of the worldwide boom in acquisitions and consolidations. • Financial flows to U.S. banks and financial flows from U.S. banks were both larger than last year. However, as in many recent years, a far greater share of transactions took place through securities channels rather than through bank channels. • Net financial outflows for U.S. direct investment abroad included numerous large-scale U.S. acquisitions of foreign companies, as has been typical in each of the past several years. • Net U.S. purchases of foreign stocks and bonds were just under net purchases in 1998, as U.S. investors increased their purchases of foreign stocks and cut back sharply in their purchases of foreign bonds. U.S. dollar in exchange markets In 1999, the dollar traded in a range just below the Table D.—Selected Balances on U.S. International Transactions [Millions of dollars, quarters seasonally adjusted] 1999 1997 1998 1999' \\JP I'Balance on goods -196,651 -246,932 -347,131 -74,381 -64,591 -91,943 -96,216 Balance on services 91,921 82,650 79,583 20,204 19,301 19,355 20,720 Balance on income 3,231 8,185 69,220 23,456 -12,205 -6,956 59,405 21,138 -87,499 -24,789 -19,186 58,433 14,327 -91,946 -4,419 -3,029 -4,692 -3,308 13,913 5,112 -22,333 -5,289 -3,887 16,543 -10,391 Investment income, net Direct, net Other private, net U.S. Government, net Compensation of employees, net Unilateral current transfers, net -84,491 -41,966 Balance on current account 4,001 -21,787 -1,390 -5,603 -44,075 -46,581 -1,402 -6,964 13,218 2,245 -24,427 -1,427 -11,208 -13,892 -69,085 -99,779 -11,175 -68,902 -338,918 2,969 -23,399 -1,384 -10,306 -220,562 -143,465 ' Preliminary. -5,249 -4,954 14,757 -61,157 SURVEY OF CURRENT BUSINESS peak value achieved in the summer of 1998. The plateau on which the dollar traded was in marked contrast to the long period of dollar appreciation that began in mid-1995 and continued through mid-1998. However, many of the conditions that provided the impetus for sustained appreciation in the earlier period were the same as those that provided support to the dollar in 1999. In 1999, U.S. economic growth remained strong at 4.2 percent and much greater than growth in other industrial countries, inflation did not emerge as a major problem in the United States, U.S. interest rates exceeded those abroad by a significant margin, and U.S. stock prices rose substantially. By contrast, economic growth in industrial countries abroad was about 2.5 percent, but picked up over the course of the year; recessions lingered in many of the developing countries in Asia as a consequence of financial crises in 1997 and 1998, although some recovery occurred over the course of the year; and there was little growth in Latin America. In this environment, the United States remained an important destination for the exports of foreign goods and services and an attractive location for portfolio and direct investment capital. The value of the dollar was unchanged from yearend 1998 to yearend 1999 on a nominal, tradeweighted basis against the group of 7 major currencies that trade widely in international markets (table B, chart 1). During the first half of the year, the dollar appreciated 12 percent against the euro and 7 percent against the yen. During the last half of the year, the dollar appreciated an additional 3 percent against the euro, but it fell 16 percent against the yen. Large differences in relative growth rates and perceptions about prospective changes in growth rates were key determinants of exchange rates in 1999. During the first half of the year, the dollar appreciated 12 percent against the euro as the result of a large disparity between the prospects for economic growth in the United States and in the euro area countries. Growth in the U.S. economy continued strong, while growth in the euro area economies remained relatively weak. The spread between future U.S. and euro area short-term interest rates implied by futures market prices widened over much of the period in favor of the dollar, partly as a result of belief by financial market participants that the disparity between economic growth prospects would lead to a tightening of monetary conditions in the United States relative to those in the euro area. These expectations and April 2000 • continued rapid U.S. growth led to a strong rise in U.S. short-and long-term interest rates relative to those abroad (charts 2 and 3). In late June, the Federal Reserve System raised the target Federal funds rate by 25 basis points to 5.00 percent. In contrast, weak economic growth led the European Central Bank to lower its short-term lending rate by 50 basis points to 2.50 percent. During the second half of the year, the dollar appreciated 3 percent against the euro, partly as more positive European economic news, particularly from Germany, prompted increased interest in European investments, while expectations of tighter monetary policy in the United States encouraged profit-taking in U.S. stock and bond markets. A rise in German bond rates relative to U.S. long-term rates decreased the yield differential in favor of U.S. bonds and gave further indication that a pickup in economic growth was under way in Europe. However, conditions in the United States continued to be very positive and led to record U.S. stock prices and a tightening of monetary conditions by the Federal Reserve System in late August and mid-November. Consequently, interest rates and growth rates in the United States were well above those in the euro area, and the dollar appreciated. The dollar appreciated 7 percent against the Japanese yen in the first half of the year. During the first half, there were indications that the recovery in Japan was beginning to take hold. However, the pace of expansion was unclear and considerable uncertainty prevailed as to whether the expansion was sustainable. By mid-year, in anticipation of recovery, Japanese stock prices had increased strongly, encouraging strong purchases of Japanese stocks by foreign investors. In contrast, rising U.S. interest rates created a strong incentive to place assets in the United States, which contributed to the dollar's appreciation. During the second half of the year, the dollar depreciated 16 percent against the Japanese yen. Positive news about the Japanese economy, continued expansionary fiscal policy, and the maintenance of near-zero short-term interest rates all contributed to a more favorable outlook for the Japanese economy. Economic reports released in the second half continued to indicate a limited recovery, but expectations of a strengthening recovery encouraged further yen appreciation and a sharp rise in Japanese stock prices. In this environment, a considerable amount of portfolio capital flowed into the Japanese stock market, including 155 156 • April 2000 SURVEY OF CURRENT BUSINESS billion, or 11 percent, up from a $61.7 billion, or 8-percent, increase. Increases were especially strong in automotive products and capital goods. U.S. export growth in 1999 was limited by real GDP growth in many industrial countries abroad that, for the year, was up only slightly from reduced growth in 1998 (chart 4). Growth in Western Europe was higher and picked up over the capital from the United States. Japanese authorities intervened in exchange markets on several occasions in the third and fourth quarters to slow the especially rapid rise of the yen. Current Account Goods and services The deficit on goods and services increased to $267.5 billion in 1999 from $164.3 billion in 1998. A record annual increase in the goods deficit was augmented by the second annual decrease in the services surplus since 1985 (table D). Table F.—Percent Changes in U.S. Trade in Goods, Current and Chained (1996) Dollars [Balance of payments basis] Chained (1996) dollars Current dollars Goods.—The deficit on goods increased to $347.1 billion in 1999 from $246.9 billion in 1998. Imports increased by a very substantial amount, and exports recovered only slightly from a drop in 1998. Goods exports increased $12.8 billion, or 2 percent, to $683.0 billion in 1999 after decreasing $9.5 billion, or 1 percent, in 1998. The increase was limited almost entirely to capital goods, mostly as a result of a pickup in worldwide demand for semiconductors, computers and computer parts, and telecommunications equipment (tables E and F). Goods imports increased $113.0 billion, or 12 percent, to $1,030.2 billion in 1999, up from an increase of $40.8 billion, or 5 percent, in 1998. Petroleum imports increased $16.9 billion after 2 years of decline. Nonpetroleum imports increased $96.1 Exports Agricultural products Nonagricultural products Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Exports, n.e.c Imports Petroleum and products Nonpetroleum products Foods, feeds, and beverages ...... Industrial supplies and materials Capital goods, except automotive Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Imports, n.e.c, and U.S. goods returned 1997 1998 1999^ 11.1 -5.0 12.8 -1.4 -9.1 -.7 1.9 14.2 -6.9 1.8 2.7 15.5 -7.3 6.9 16.8 -9.9 -6.3 1.5 13.9 10.4 12.9 1997 1998 1999' 1.8 .1 1.9 3.3 .5 3.6 -2.3 -.9 3.5 -.9 7.4 -1.0 22.9 4.3 2.5 .6 5.1 -1.2 2.1 12.9 -1.3 1.5 2.4 1.0 1.7 7.8 9.6 14.1 2.5 3.3 2.0 9.1 4.7 9.1 -1.3 -29.1 10.1 7.7 12.3 33.1 11.1 13.8 4.6 14.7 11.3 7.0 11.6 12.2 .2 13.1 3.9 -6.6 5.7 10.5 10.1 10.1 5.9 7.3 9.7 14.8 9.2 1.8 11.2 3.8 11.1 20.4 6.5 13.2 10.7 11.5 14.1 11.7 11.2 19.6 8.2 6.6 12.7 15.4 25.4 6.4 8.4 22.6 15.8 11.8 16.4 23.5 p Preliminary. n.e.c. Not elsewhere classified. Table E.—U.S. Trade in Goods, Current and Chained (1996) Dollars [Balance of payments basis, millions of dollars, quarters seasonally adjusted] Chained (1996) dollars1 Current dollars 1999 1999 1997 1998 1997 1999^ V Exports Agricultural products Nonagricultural products Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Exports, n.e.c Imports Petroleum and products Nonpetroleum products Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Imports, n.e.c., and U.S. goods returned r Revised. p Preliminaro. n.e.c. Not elsewhere classified. \V III' 1998 1999' \\}P lr \\r \\\r IV 679,715 58,425 621,290 670,246 53,106 617,140 683,021 49,449 633,572 164,008 11,773 152,235 165,577 12,200 153,377 173,680 12,881 160,799 179,756 12,595 167,161 698,658 62,585 635,972 711,177 62,654 648,298 734,555 62,990 671,424 176,733 14,643 161,952 178,616 15,601 162,994 186,954 16,578 170,519 192,252 16,168 175,959 51,506 158,274 295,742 74,029 46,398 148,270 300,130 73,156 45,340 146,988 310,591 74,666 10,761 34,060 75,286 17,832 11,278 35,024 74,753 18,730 11,737 37,129 79,693 18,961 11,564 40,775 80,859 19,143 55,625 158,951 311,153 73,420 55,133 157,359 324,425 72,450 56,491 158,364 340,966 73,504 13,188 37,511 82,280 17,603 13,958 38,404 81,966 18,471 14,726 39,753 87,864 18,662 14,619 42,696 88,856 18,768 77,366 22,798 79,261 23,031 80,618 24,818 19,863 6,206 19,750 6,042 20,114 6,046 20,891 6,524 76,788 23,042 78,673 23,807 80,255 25,964 19,804 6,492 19,691 6,353 20,014 6,344 20,746 6,775 876,366 71,772 804,594 917,178 1,030,152 50,903 67,771 866,275 962,381 238,389 10,647 227,742 250,168 15,971 234,197 265,623 19,630 245,993 275,972 21,523 254,449 913,998 1,016,842 1,141,368 76,092 81,619 81,440 837,896 935,193 1,057,678 269,671 20,241 248,898 279,517 21,380 257,642 292,536 20,729 271,216 299,644 19,269 279,922 39,695 217,357 253,281 139,811 41,242 203,095 269,558 149,055 43,586 224,362 296,869 179,520 10,420 46,983 69,786 42,803 10,935 53,270 72,958 43,664 11,045 59,956 75,575 46,450 11,186 64,153 78,550 46,603 39,333 222,003 286,035 139,532 42,206 243,588 328,353 148,572 46,107 248,023 378,876 177,687 10,922 59,927 86,907 42,505 11,498 61,584 92,704 43,232 11,800 63,245 97,516 45,945 11,887 63,267 101,749 46,005 193,936 32,286 216,654 37,574 239,732 46,083 57,277 11,120 58,181 11,160 60,723 11,874 63,551 11,929 196,317 32,467 222,283 37,604 247,741 46,454 58,927 11,187 60,166 11,284 62,860 11,982 65,788 12,001 1. Because chain indexes use weights of more than one period, the corresponding chained dollar estimates are usually not additive. April 2000 • SURVEY OF CURRENT BUSINESS course of the year, and in Asia, several key countries partially recovered from the financial problems of late 1997 and 1998. Growth in Canada accelerated, and Japan showed some signs of recovery from its recession. There was little growth in Latin America. U.S. import growth increased substantially in 1999, as the U.S. economy continued to grow strongly. Growth in U.S. real GDP was 4.2 percent in 1999, following growth of 4.3 percent in 1998 and 4.2 percent in 1997. Domestic prices of exports slowed their decline in 1999, and some prices began to rise by yearend. The largest declines were in foods, feeds, and beverages and in capital goods (in computers, peripherals, and parts) (table G). When converted into foreign currencies, most price declines were larger, because appreciation of foreign currencies added to the price reductions (table H). Dollar prices of most imports were unchanged. However, prices of petroleum and petroleum products were sharply higher, prices of other industrial supplies and materials were somewhat higher, and prices of capital goods (particularly computers, peripherals, and parts) continued to decline (table G). Exports.—Nonagricultural exports increased $16.4 billion, or 3 percent, to $633.6 billion in 1999, following a decrease of 1 percent in 1998. Quantities increased 4 percent, and prices decreased 1 percent. In value, capital goods accounted for more than half of the increase in 1999. Other major Table G.—Percent Changes in U.S. Goods Trade Chain-Weighted Price Indexes [Based on index numbers (1996=100)] 1997 Exports Agricultural products Nonagricultural products CHART 4 Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Computers, peripherals, and parts Civilian aircraft, engines, and parts Other capital goods Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Exports, n.e.c Major Industrial Countries: Real GDP Percent change from four quarters earlier Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Computers, peripherals, and parts Civilian aircraft, engines, and parts Other capital goods Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Imports, n.e.c, and U.S. goods returned United Kingdom - Canada 1999'' -2.7 -6.6 -2.3 -3.2 -9.2 -2.6 -1.3 -7.4 -7.4 -9.1 -5.4 -2.7 -12.1 ^t.6 -1.5 -1.5 -9.3 -.4 -4.9 -14.0 -.8 3.4 1.4 ^.1 -1.4 .8 .7 .2 2.1 -.7 .6 -1.0 -2.3 -.4 -1.2 -4.1 -5.7 ^t.O -5.9 -33.7 -3.5 32.8 -1.7 .9 -11.8 -3.2 -14.8 -7.3 -17.1 1.7 -3.9 .2 .1 -1.3 .7 -1.2 -1.3 -.7 -.6 -.5 -.7 Imports Petroleum and products Nonpetroleum products United States 1998 -2.1 -11.4 -13.6 3.8 .1 0 -3.3 8.4 ^t.5 -13.3 1.8 f Preliminary. n.e.c. Not elsewhere classified. i I Table H.—Percent Changes in Foreign Currency Cost of U.S. Exports of Goods Japan t [Based on index numbers (1996=100)] V Germany i i i 1994 1 i 1996 i,, i i Exports Agricultural products Nonagricultural products 1997 1998 U.S. Department of Commerce, Bureau of Economic Analysis Foods, feeds, and beverages Industrial supplies and materials Capital goods, except automotive Computers, peripherals, and parts Civilian aircraft, engines, and parts Other capital goods Automotive vehicles, parts, and engines Consumer goods (nonfood), except automotive Exports, n.e.c i Data: International Monetary Fund. 1998 1999' France Vw i, , i , ! i . i . i 1995 1997 ^-v 1999 4.9 .7 5.3 1.7 -4.7 2.3 -3.1 -9.1 -2.7 -.2 7.4 2.5 -7.3 11.5 3.4 8.7 8.6 6.7 -4.5 -.7 2.1 -6.4 -3.3 -3.3 -7.7 6.4 3.6 5.2 5.1 2.6 -10.9 .2 -2.6 -1.3 -2.2 -3.1 p Preliminary. n.e.c. Not elsewhere classified. NOTE.—Chain-weighted price indexes multiplied by trade-weighted exchange rate index of the currencies of Australia, Austria, Belgium, Canada, Finland, France, Germany, Ireland, Italy, Japan, Luxembourg, Netherlands, Portugal, Spain, Sweden, Switzerland, and United Kingdom. 157 158 • April 2000 SURVEY OF CURRENT BUSINESS commodity categories increased only slightly or decreased (chart 5). Capital goods, except automotive, increased $10.5 billion, or 3 percent, following an increase of 1 percent. Unlike in 1998 when increases in aircraft, engines, and parts more than offset decreases in most other capital goods, in 1999, most capital goods increased, albeit some by small amounts, and aircraft decreased. Semiconductors, which accounted for over 80 percent of the increase in capital goods, increased $9.2 billion, or 24 percent, following a decrease of $1.2 billion, or 3 percent. This is the largest annual increase on record, reflecting increased shipments to Asia, Latin America, and Western Europe. Electric generating equipment and parts increased $2.0 billion, following a decrease of $0.7 billion. Telecommunications equipment—mainly to Europe, Canada, and Mexico—increased $1.6 billion, up from an increase of $1.0 billion. Computers, peripherals, and parts—mainly to the newly industrialized countries in Asia—increased $1.3 billion, following a decrease of $4.1 billion. Scientific, hospital, and medical equipment—mainly to Europe, Canada, Mexico, and Japan—increased $1.0 billion, following a decrease of $0.3 billion. These increases were partly offset by lower exports of oil drilling, mining, and construction machinery, which fell $4.1 billion, following little change, largely to developing countries in Asia and Latin America but also to Western Europe (table I). Civilian aircraft, engines, and parts decreased $0.6 billion, or 1 percent, following increases of 29 percent in 1998, 34 percent in 1997, and 18 percent in 1996. A decline in deliveries of both complete aircraft and aircraft parts to Asia reflected the weakened financial position of countries in that area and more than accounted for the worldwide decline. Deliveries to Europe were higher and nearly offset the decline to Asia. Automotive vehicles, engines, and parts increased $1.5 billion, or 2 percent, following a 1percent decrease. Exports to Canada increased $4.2 billion, or 10 percent. In contrast, exports to other countries, mainly in Latin America, decreased $2.7 billion, or 8 percent, largely as a result of the economic difficulties in countries where major production facilities are located. Consumer goods increased $1.4 billion, or 2 percent, following a 2-percent increase. Medicinal, dental, and pharmaceutical preparations more than accounted for the increase in 1999. Nonagricultural industrial supplies and materials increased $0.7 billion, or 1 percent, following a 6-percent decrease. Increases in chemicals, "other" nonmetals, and textile supplies more than offset decreases in metals and nonmetallic products and in energy products (table J). Agricultural products decreased $3.7 billion, or 7 percent—the third consecutive annual decrease—reaching the lowest level since 1994. Quantities increased 1 percent, and prices declined 8 percent. Raw cotton decreased $1.6 billion, 42 percent in quantity and 20 percent in price. Other CHART 5 Growth in Exports by Selected Commodity Categories and Areas 1990=100 400 350 CAPITAL GOODS, EXCEPT AUTOMOTIVE - 300 Canada Western Europe Japan Asia, excluding Japan Latin America 250 200 150 100 50 INDUSTRIAL SUPPLIES AND MATERIALS 400 350 CONSUMER GOODS (NONFOOD), EXCEPT AUTOMOTIVE 300 250 200 150 100 50 1990 91 92 93 94 95 96 p Preliminary U.S. Department of Commerce, Bureau of Economic Analysis 97 98 99" April 2000 • SURVEY OF CURRENT BUSINESS bulk commodities, such as soybeans and wheat, increased in quantity, but large price declines more than offset the increases. Soybean prices declined 21 percent, and wheat prices, 9 percent. ties increased 13 percent, and prices fell 2 percent. In value, the largest increases were in automotive vehicles, engines, and parts and in capital goods, and both increased by substantially greater amounts in 1999 than in 1998. The increase in consumer goods was also sizable, while the increase in nonpetroleum industrial supplies and materials was small (chart 6). Imports.—Nonpetroleum imports increased $96.1 billion, or 11 percent, to $962.4 billion in 1999, following an 8-percent increase in 1998. Quanti- Table I.—U.S. Trade in Capital Goods, except Automotive [Balance of payments basis, millions of dollars] 1994 1995 1996 1997 1998 1999' 205,248 233,778 253,252 295,742 300,130 310,591 Computers, peripherals, and parts Semiconductors Telecommunications equipment Scientific, hospital, and medical equipment and parts 33,320 25,178 16,296 11,523 39,654 34,153 20,248 13,073 43,719 35,768 20,323 14,748 49,360 38,861 23,996 16,114 45,246 37,650 24,956 15,773 46,583 46,872 26,568 16,777 Industrial, agricultural, and service industry machinery Machine tools, metalworking equipment, and control instruments . Oil drilling, mining, and construction machinery Industrial engines, pumps, and compressors Electric generating machinery, electric apparatus, and parts 31,922 12,320 10,216 9,176 19,674 37,088 14,259 11,517 10,160 23,040 40,178 15,607 12,693 10,287 24,112 45,619 18,275 15,965 12,614 27,977 42,803 18,815 15,943 11,727 27,301 42,973 19,226 11,878 11,814 29,251 Civilian aircraft, engines, and parts 31,475 26,128 30,792 41,359 53,547 52,959 5,690 Exports 4,148 4,458 5,025 5,602 6,369 184,369 221,429 228,075 253,281 269,558 Computers, peripherals, and parts Semiconductors Telecommunications equipment Scientific, hospital, and medical equipment and parts 46,160 26,156 14,184 5,908 56,277 39,042 15,331 6,669 61,513 36,707 13,360 7,209 70,176 36,881 14,774 8,153 72,475 33,417 17,074 9,579 81,445 37,628 24,019 11,337 Industrial, agricultural, and service industry machinery Machine tools, metalworking equipment, and control instruments . Oil drilling, mining, and construction machinery Industrial engines, pumps, and compressors Electric generating machinery, electric apparatus, and parts 31,852 9,804 5,325 5,758 20,030 36,707 12,245 5,481 6,176 24,150 38,195 13,463 5,201 6,266 24,749 41,552 14,973 6,381 6,541 27,920 44,400 16,173 8,007 7,338 29,074 45,871 15,496 7,025 8,291 32,842 Civilian aircraft, engines, and parts 11,298 10,709 12,671 16,598 21,814 7,894 8,642 8,741 9,332 10,207 Other capital goods, n.e.c Imports Other capital goods, n.e.c 23,363 9,552 p Preliminary. n.e.c. Not elsewhere classified. Table J.-U.S. Trade in Nonagricultural Industrial Supplies and Materials [Balance of payments basis, millions of dollars] 1994 Exports 1995 1996 1997 1998 1999" 112,558 135,483 137,961 147,671 138,490 Energy products 12,041 13,778 15,556 16,520 13,294 12,745 Chemicals, excluding medicinals Paper and paper base stocks Building materials, except metals Other nonmetals . 35,137 10,104 8,183 8,839 11,900 42,985 14,487 9,284 9,061 13,410
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