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SURVEY OF CURRENT BUSINESS
BEA’s M O N T H L Y JO U R N A L
In This Issue . . .
The Role o f Profits and Income in the Statistical Discrepancy
saiBEA
BUREAU OF ECONOMIC ANALYSIS
U.S. DEPARTMENT OF COMMERCE
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. D ep artm en t of C om m erce
John E. Bryson, Secretary
E conom ics and S tatistics A d m in istratio n
Rebecca M. Blank, Under Secretary for Economic Affairs
B ureau of E conom ic A nalysis
J. Steven Landefeld, Director
Brian C. Moyer, Deputy Director
Ana M. Aizcorbe, Chief Economist
Brian M. Callahan, Chief Information Officer
Dennis J. Fixler, Chief Statistician
Brent R. M oulton, Associate Director for National Economic Accounts
Carol E. Moylan, Associate Director for Industry Accounts
Joel D. Platt, Associate Director for Regional Economics
Paul W. Farello, Acting Associate Director for International Economics
B EA A d v is o ry C o m m ittee
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innovative and advancing technologies, and it provides recommendations from the perspective of business economists, academicians,
researchers, and experts in government and international affairs.
Ernst R. Berndt, Chair, Massachusetts Institute of Technology
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Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of Maryland
Dale W. Jorgenson, Harvard University
Ellen R. McGrattan, Federal Reserve Bank of Minneapolis
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
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SURVEY OF CURRENT BUSINESS
Feb ru ary 2012
1
Volum e 92 • N u m b er 2
G D P and th e Econom y: A dvance E stim ates for th e Fourth Q u arter of 2011
Real GDP rose 2.8 percent after rising 1.8 percent in the th ird quarter. Inventory investm ent
tu rn e d up, and consum er spending and residential investm ent accelerated. For the year 2011, real
GDP rose 1.7 percent after rising 3.0 percent in 2010.
8
T h e R ole of Profits and Inco m e in th e S tatistical D iscrepan cy
A look at estim ation issues regarding corporate profits and incom e and how these issues m ight
affect the statistical discrepancy, the difference betw een gross dom estic pro d u ct and gross
dom estic incom e.
w w w .b ea.g o v
February 2012
D -1
B EA C u rren t and H istorical Data
#77
D ire cto r’s M essage
iv
Taking A cco u n t
B E A ’s W eb S ite and C o n tacts (inside back cover)
S ch ed u le of U pcom ing B E A N ew s R eleases (b ack cover)
Looking A head
NIPA Translation of the Federal Budget. A look at federal governm ent estim ates th at
are based on the proposed budget o f the U.S. governm ent for 2013.
F eb ru ary 2 0 1 2
Director’s Message______________
The Bureau o f Economic Analysis (BEA) national income and
product accounts (NIPAs) include two widely used measures of
econom ic output: gross domestic product (GDP) and gross do
mestic income (GDI). In concept, GDP and GDI are equal, as
spending by one party in the econom y is by definition income to
another party. In practice, the two measures are not identical, be
cause o f differences in source data and estimation m ethodolo
gies. In this issue, we take a look at the difference between the two
measures— known as the statistical discrepancy— and explore
how estimation issues regarding corporate profits and income
might contribute to the discrepancy and why BEA records the
discrepancy on the income side o f the NIPAs.
Elsewhere, our “GDP and the Economy” article takes a look at
the advance estimates for the fourth quarter o f 2011.
I’d like to also note that BEA has recently made available two
additional chapters o f its NIPA handbook, which is being pub
lished in stages on www.bea.gov. The handbook provides a de
tailed explanation o f the NIPAs, including concepts, source data,
methodologies, and more. Last month, we noted the new chapter
on exports and imports. In this m onth’s Taking Account, we take a
look at the new chapter on government consumption expendi
tures and gross investment.
J. Steven Landefeld
Director, Bureau o f Economic Analysis
iv
February 2012
T a k in g A c c o u n t...
New chapters of NIPA
handbook now available
The Bureau o f Econom ic Analy
sis (BEA) has m ade available two
m ore chapters o f its national in
com e and p ro d u ct accounts (N I
PAs) handbook, w hich is being
released in stages on the BEA
Web site.
The NIPAs are a critical piece
o f the broad U.S. national eco
n om ic accounts, displaying the
value an d com position o f n a
tional o u tp u t and the d istrib u
tio n o f incom es generated in its
p ro d uction. The NIPA h a n d
boo k describes the fundam ental
concepts, definitions, classifica
tions, an d accounting fram e
w ork th at underlie the accounts
and the source data and m eth
odologies used to calculate the
estimates.
The two newly available chap
ters focus on exports and im
p o rts (chapter 8) and on
governm ent consum ption ex
penditures and gross invest
m en t (chapter 9). This Taking
Account will discuss the latter.
Last m o n th ’s item focused on
the former.
C hapter 9 covers essential in
form ation about governm ent
co n su m p tio n expenditures and
gross
investm ent— definitions
and concepts as well as how gov
ern m en t transactions are re
corded in the NIPAs— and
provides an overview o f source
data and estim ating m ethods,
an nual estim ates, cu rren t quar
terly estim ates, and price and
q u an tity indexes.
G overnm ent
consum ption
expenditures and gross invest
m ent m easures the p o rtio n o f
gross dom estic product, or final
expenditures, that is accounted
for by the governm ent sector.
G overnm ent consum ption ex
penditures consists o f spending
by governm ent to produce and
provide services to the public,
such as public school education.
Gross investm ent consists o f
spending by governm ent for
fixed assets th at directly benefit
the public, such as highway con
struction, or th at assist govern
m en t
agencies
in
their
pro d u ctio n activities, such as
purchases o f m ilitary hardware.
BEA prepares estim ates of
governm ent consum ption ex
penditures and gross invest
m ent for the federal governm ent
sector and for the state and local
governm ent sector. Estimates o f
governm ent spending by func
tion— such as defense, health,
and education— provide infor
m ation on how governm ents al
locate their funds.
The estimates o f governm ent
consum ption expenditures and
gross investm ent are an integral
p art o f the NIPAs, a set o f ac
counts th at provides a logical
and consistent fram ew ork for
presenting statistics on U.S. eco
nom ic activity (see “C hapter 2:
Fundam ental C oncepts”). In ad
dition, the estim ates o f gross in
vestm ent by governm ent in
structures, equipm ent, and soft
ware provide the building blocks
for the estim ates o f governm entow ned fixed assets in BEA’s fixed
assets and consum er durable
goods accounts.
The
first nine chapters of
the h an d b o o k are accessible
at w w w .bea.gov/m ethodologies/
index.htm #national_m eth.
For a p rim er on the BEA gov
ernm ent accounts, please see the
M arch 2008 issue o f the S u r v e y
of
C
urrent
B
u s in e s s .
M ore inform ation about gov
ern m en t statistics is available at
w w w .bea.gov/national/nipaw eb/
GovView.asp.
Stay connected to BEA
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1
February 2012
GDP and the Economy
A d van ce E stim ates fo r th e Fourth Q u arter of 2011
R
EAL GROSS dom estic p ro d u ct (GDP) increased
2.8 percent at an annual rate in the fourth quarter
o f 2011, according to the advance estim ates o f the n a
tional incom e and p roduct accounts (NIPAs) (chart 1
an d table l ) . 1 In the th ird quarter, real GDP increased
1.8 percent. For the year 2011, real GDP increased 1.7
percent after increasing 3.0 percent in 2010 (see page
6
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter
Seaso n ally adjusted annual rates
).
The acceleration in real GDP in the fo u rth quarter
o f 2011 prim arily reflected an u p tu rn in inventory in
vestm ent and accelerations in consum er spending and
in residential fixed investm ent th at were partly offset
by a deceleration in nonresidential fixed investm ent, a
d o w n tu rn in federal governm ent spending, an acceler
ation in im ports, and a larger decrease in state and lo
cal governm ent spending.2
• Prices o f goods and services purchased by U.S. resi
dents increased 0.8 percent in the fo u rth quarter after
increasing 2.0 percent in the third quarter (see page
3). Energy prices tu rn ed dow n in the fo u rth quarter,
and food prices decelerated. Excluding food and
energy, gross dom estic purchases prices increased 1.0
p ercent after increasing 1.8 percent.
• Real disposable personal incom e (DPI) increased 0.8
percent in the fourth quarter after decreasing 1.9 p er
cent in the th ird quarter (see page 4). C urrent-dollar
DPI accelerated, and the PCE im plicit price deflator
used to deflate DPI decelerated. The acceleration in
cu rrent-dollar DPI reflected an acceleration in per
sonal incom e th at was partly offset by an acceleration
in personal current taxes.
• The personal saving rate, personal saving as a p er
centage o f current-dollar DPI, was 3.7 percent in the
fo u rth quarter; in the third quarter, it was 3.9 p er
cent.
1. “Real” estimates are in chained (2005) dollars, and price indexes are
chain-type measures. Each GDP estimate for a quarter (advance, second,
and third) incorporates increasingly comprehensive and improved source
data; for more information, see “Revisions to GDP, GDI, and Their Major
Components” in the July 2011 S urvey o f C u r r e n t B usiness . Quarterly esti
mates are expressed at seasonally adjusted annual rates, which assumes that
a rate of activity for a quarter is maintained for a year.
2. In this article, “consumer spending” refers to “personal consumption
expenditures (PCE),” “inventory investment” refers to “change in private
inventories,” and “government spending” refers to “government consump
tion expenditures and gross investment.”
2008
2010
2011
Consumer spending
■
Nonresidential fixed investment
Residential fixed investment
Inventory investment
Exports
Imports
Government spending
-
1 .0
-0 .5
0
0 .5
1 .0
Percentage points at an annual rate
1 .5
2 .0
Prices: Percent change from the preceding quarter
Prices of g ro ss dom estic p u rch ases
n
M .l.ljlillf li. l l l l l l l l l l
2008
2009
2010
2011
Real DPI: Percent change from the preceding quarter
12
10
4
2
o
-2
-4
-6
ll I
■I
-8
-1 0
Christopher Swann prepared this article.
2009
Contributions to the percent change in real GDP in 2011 :IV
.......I........I
I.......I....... I....... I
2008
2009
U.S. Bureau of Economic Analysis
I____ I
2010
I
I
2011
I
GDP and the Economy
2
F eb ru ary 2 0 1 2
Real G D P O verview
Table 1. Real Gross Domestic Product (GDP) and Components
[Seasonally adjusted at annual rates]
G ross dom estic p ro d u c t1.....
Personal consum ption
expenditures..................................
Goods.........................................
Durable goods.........................
Nondurable goods..................
Services......................................
Gross private dom estic
investm ent......................................
Fixed investment.........................
Nonresidential.........................
Structures............................
Equipment and software.....
Residential..............................
Share of
currentdollar
GDP
(percent)
Change from
preceding period
(percent)
Contribution to percent
change in real GDP
(percentage points)
2011
2011
2011
IV
I
II
III
IV
I
II
III
IV
100.0
0.4
1.3
1.8
2.8
0.4
1.3
1.8
2.8
71.0
2.1
0.7
1.7
2.0
1.47
0.49
1.24
1.45
1.10 -0.38 0.33
0.85 -0.42 0.42
0.25 0.04 -0.09
0.36 0.87 0.90
1.34
1.07
0.27
0.10
0.47
0.79
0.17
2.35
12.6 1.2 9.2 13.0 3.3 0.15
10.3 2.1 10.3 15.7 1.7 0.20
2.8 -14.3 22.6 14.4 -7.2 -0.40
7.6 8.7 6.2 16.2 5.2 0.60
2 .3 - 2 . 4
4 .2
1 .3
10.9 - 0 . 0 6
1.07
0.98
0.54
0.44
1.52 0.41
1.49 0.18
0.37 -0.21
1.12 0.39
0.03 0.23
24.2 4.7 -1.6
1.4 5.7
7.8 11.7 -5.3 5.7 14.8
16.4 1.6 0.2 -0.5
1.7
46.8 0.8 1.9 1.9 0.2
13.1
Change in private inventories.....
0.5
Net exports o f goods and
s e rv ic e s ..............................................
-3 .8
Exports........................................
Goods......................................
Services..................................
Imports........................................
Goods......................................
Services..................................
6.4
3.8
19.7
Federal........................................
National defense.....................
Nondefense.............................
State and local............................
8.0
5.3
2.7
11.7
20.0
0 .0 9
0.32 - 0 . 2 8 -1.35
-0 .3 4
13.9 7.9
9.8 10.6
4.1
1.7
17.7 8.3
14.9 9.5
2.8 2.2
Governm ent consumption
expenditures and gross
investm ent......................................
1.3
-5 .9
0.24
1 .9 4
0.43 -0.1 1
3.6
2.5
6.2
1.4
1.6
0.4
4.7
5.0
4.0
1.2
0.5
4.8
4.7 1.01 0.48 0.64 0.64
5.0 0.94 0.24 0.48 0.48
3.9 0.07 0.24 0.16 0.16
4.4 -1.35 -0.24 -0.21 -0.75
4.1 -1.29 -0.23 -0.08 -0.60
5.6 -0.06 -0.01 -0.13 -0.15
-0 .9
-0 .1
-4 .6 -1 .2 3 -0.1 8 -0 .0 2 -0 .9 3
-9.4 1.9 2.1 -7.3 -0.82 0.16 0.17 -0.62,
-12.6 7.0 5.0 -12.5 -0.74 0.37 0.27 -0.73
-2.7 -7.6 -3.8 4.2 -0.08 -0.22 -0.10 0.11
-3.4 -2.8 -1.6 -2.6 -0.41 -0.34 -0.19 -0.32
1. The estimates of GDP under the contribution columns are also percent changes.
Note. Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares are from
NIPA table 1.1.10.
Table 2. Real Gross Domestic Product (GDP) and Related Measures
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
2011
Gross dom estic prod uct1..............
Final sales of domestic product
Change in private inventories..
Goods.........................................
Services......................................
Structures....................................
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2011
I
II
III
IV
I
100.0
0.4
1.3
0.4
1.3
1.6
1.8
3.2
2.8
99.5 0.0
0.5
28.6 4.9
64.6 -0.1
6.8 -13.1
0.8 0.04
0.32
2.2 12.9 1.36
1.2 -0.9 -0.05
5.8 -1.8 -0.95
1.62
-0.28
-0.17
1.18
0.33
II
III
1.8
3.16
-1.35
0.62
0.81
0.38
IV
2.8
0.81
1.94
3.48
-0.60
-0.12
Addenda:
Motor vehicle output.......................
GDP excluding motor vehicle output
Final sales of computers.................
GDP excluding final sales of
computers...................................
2.5 59.2
97.5 -0.7
0.7 14.7
99.3
0.3
5.1 12.8 1.08 -0.10 0.12
1.5 1.7 2.5 -0.73 1.44 1.69
13.0 42.1 32.1 0.08 0.07 0.22
-4.1
1.3
1.6
2.6 0.2/
1.26 1.60
0.30'
2.45
0.182.58
1. The estimates under the contribution columns are also percent changes.
N o t e . Percent changes are from NIPA table 1.2.1, contributions are from NIPA table 1.2.2, and shares are
calculated from NIPA table 1.2.5.
Nonresidential fixed investment slowed sharply, con
tributing 0.18 percentage point to real GDP growth af
ter contributing 1.49 percentage points. Equipment
and software slowed, and structures turned down.
Residential investment increased 10.9 percent and
contributed 0.23 percentage point to real GDP
growth. In the third quarter, it had increased 1.3 per
cent and contributed 0.03 percentage point. The
pickup mainly reflected an upturn in improvements.
Inventory investment turned up, adding 1.94 percent
age points to real GDP growth after subtracting 1.35
percentage points. The upturn reflected accumula
tions in manufacturing and in merchant wholesale
trade industries.
Net exports subtracted 0.11 percentage point from
real GDP growth after adding 0.43 percentage point.
Exports increased at the same rate (4.7 percent) as in
the third quarter, and imports picked up, increasing
4.4 percent after increasing 1.2 percent.
Government spending decreased more than in the
third quarter, and subtracted 0.93 percentage point
from real GDP growth after subtracting 0.02 percent
age point.
Federal government spending turned down, subtract
ing 0.62 percentage point from real GDP growth after
adding 0.17 percentage point. A large downturn in na
tional defense spending was partly offset by an upturn
in nondefense spending.
2011
IV
-0.6
1.8
5.0
Consumer spending picked up in the fourth quarter,
contributing 1.45 percentage points to real GDP
growth after contributing 1.24 percentage points in
the third quarter. The pickup mainly reflected a
pickup in motor vehicles and parts and an upturn in
clothing and footwear. In contrast, housing and utili
ties and finance and insurance turned down.
Real final sales of domestic product, real GDP less in
ventory investment, increased 0.8 percent in the
fourth quarter after increasing 3.2 percent.
Motor vehicle output picked up, increasing 12.8 per
cent and contributing 0.30 percentage point to real
GDP growth; in the third quarter, it increased 5.1 per
cent and contributed 0.12 percentage point.
Final sales of computers slowed, increasing 32.1 per
cent after increasing 42.1 percent.
February 2012
S urvey
of
C u r r e n t B u s in e s s
3
Prices
Table 3. Prices for Gross Domestic Purchases
Prices of goods and services purchased by U.S. resi
dents, as measured by the price index for gross domes
tic purchases, slowed in the fourth quarter, increasing
0.8 percent after increasing 2.0 percent.
[Percent change at annual rates; based on seasonally adjusted index numbers (2005=100)]
Change from
preceding period
(percent)
Contribution to percent
change in gross
domestic purchases prices
(percentage points)
2011
2011
I
II
III
IV
I
II
III
IV
G ross dom estic p u rchases1 .....................
4.0
3.3
2.0
0.8
4.0
3.3
2.0
0.8
Personal consum ption e xp end itures..........
3.9
3.3
2.3
0.7
2.67
2.26
1.60
0.48
Goods.........................................................
Durable goods........................................
Nondurable goods..................................
Services.....................................................
8.0
-0.6
12.4
1.9
Gross private dom estic investm en t............
Fixed investment........................................
Nonresidential........................................
Structures...........................................
Equipment and software....................
Residential..............................................
Change in private inventories.....................
5.1
2.9 -0.8 1.80
1.7 -0.5 -2.7 -0.04
6.7 4.5
0.1 1.84
2.4 2.1
1.5 0.87
1.17 0.67 -0.19
0.13 -0.04 -0.20
1.04 0.71 0.01
1.09 0.93 0.67
2.1
2.2
1.1
1.3
0.26
0.27
0.14
0.16
1.4
2.4
0.17
0.28
0.18
2 .5
1 .6
0 .1 4
0 .2 4
0 .1 7
5.0
0.2
1.5
6.1
1.2
2.0
1.5
1.8
5.6
0.4
0.3
1.2
1 .4
4.6
0.5
-0.3
0.12 0.15 0.15
0.01 0.09 0.03
0.03 0.04 0.01
0.09 -0.01 -0.04
0.15
0.15
0.12
0.03
-0.01
0.01
Governm ent consum ption expenditures
and gross inve s tm e n t..................................
5.4
4.2
1.3
0.9
1.05
0.81
0.24
0.17
Federal.......................................................
National defense.....................................
Nondefense............................................
State and local...........................................
5.3
6.3
3.4
5.5
3.8
3.8
3.7
4.5
1.8 -0.1
1.5 -0.4
0.4
2.3
0.9
1.6
0.42
0.33
0.09
0.63
0.30
0.20
0.10
0.52
0.14 -0.01
0.08 -0.02
0.06 0.01
0.10 0.18
Addenda:
Gross domestic purchases:
Food............................................................
Energy goods and services.......................
Excluding food and energy........................
Personal consumption expenditures (PCE):
Food and beverages for off-premises
consumption...........................................
Energy goods and services........................
Excluding food and energy.........................
Gross domestic product (GDP)......................
Exports............................................................
Imports............................................................
5.9
42.4
2.4
5.7
15.0
2.7
2.8
4.2
3.2 -6.5
1.8
1.0
6.5
40.7
1.6
6.4
15.0
4.7
3.3
2.1
2.5
11.0
19.1
2 .6
0.4
2.5
8.8
1.9 -4.0
12.5 -1.3 -1.0
2 .3
0.29
1.49
2.20
0.28
0.60
2.46
0.21 0.14
0.13 -0.28
1.64 0.95
Consumer prices slowed, reflecting slowdowns in
nondurable-goods prices and in services prices and a
larger decrease in durable-goods prices. The largest
contributors to the slowdown in consumer prices were
a downturn in gasoline and other energy goods prices
and a slowdown in clothing and footwear prices.
Prices paid for nonresidential fixed investment slowed
somewhat, reflecting a slowdown in structures prices.
Prices paid for residential investment decreased 0.3
percent, the first decrease since the second quarter of
2010, after increasing 0.3 percent in the third quarter.
Prices paid by government slowed. A downturn in
prices paid by the federal government, mainly for na
tional defense, was partly offset by a pickup in prices
paid by state and local governments.
Consumer prices excluding food and energy, a mea
sure of the “core” rate of inflation, slowed, increasing
1.1 percent after increasing 2.1 percent.
The GDP price index increased 0.4 percent, 0.4 per
centage point less than the percent change in the price
index for gross domestic purchases, reflecting a larger
decrease in export prices (4.0 percent) than in import
prices (1.0 percent). The decrease in export prices was
the first decrease since the first quarter of 2009.
2.7
-6.7
1.1
1. The estimates under the contribution columns are also percent changes
Note. Most percent changes are from NIPA table 1.6.7; percent changes for PCE for food and energy goods
and services and for PCE excluding food and energy are calculated from index numbers in NIPA table 2.3.4.
Contributions are from NIPA table 1.6.8. GDR export, and import prices are from NIPA tablel .1.7.
Note on Prices
BEA’s gross domestic purchases price index is the most
comprehensive index of prices paid by U.S. residents for
all goods and services. It is derived from the prices of per
sonal consumption expenditures (PCE), private invest
ment, and government consumption expenditures and
gross investment.
BEA also produces price indexes for all components of
GDP. The PCE price index is a measure of the total cost of
consumer goods and services, including durable goods,
nondurable goods, and services. PCE prices for food,
energy goods and services, and for all items except food
and energy are also estimated and reported. Because
prices for food and energy can be volatile, the price mea-
sure that excludes food and energy is often used as a mea
sure of underlying, or “core,” inflation. (The core PCE
price index includes purchased meals and beverages, such
as restaurant meals, and pet food. See FAQ 518 on BEA’s
Web site.)
BEA also prepares a supplemental PCE price index, the
“market-based” PCE price index, that is based on market
transactions for which there are corresponding price mea
sures. This index excludes many imputed expenditures,
such as financial services furnished without payment, that
are included in PCE and the PCE price index. BEA also
prepares a market-based measure that excludes food and
energy.
G D P and the E conom y
4
February 2012
Personal Incom e
Table 4. Personal Income and Its Disposition
[Billions of dollars; quarterly estimates are seasonally adjusted at annual rates]
Level
Change from preceding period
2011
2011
III
Personal in c o m e ..........................................................
IV
I
II
12,979.6 13,062.2
269.3
108.4
Compensation of employees, received............. 8,250.0 8,327.4
Wage and salary disbursements.................... 6,641.9 6,708.0
Private industries........................................ 5,452.6 5,519.1
1,100.9 1,112.7
Goods-producing industries...................
Manufacturing.....................................
701.6
707.7
Services-producing industries............... 4,351.7 4,406.4
Trade, transportation, and utilities...... 1,043.4 1,059.4
Other services-producing industries... 3,308.3 3,347.0
Government................................................
1,189.3 1,188.9
Supplements to wages and salaries.............
1,608.1 1,619.4
1,113.7 1,115.5
Proprietors’ income with IVA and CCAdj...........
Farm................................................................
58.7
67.5
Nonfarm.......................................................... 1,046.2 1,056.8
Rental income of persons with CCAdj..............
406.3
428.6
Personal income receipts on assets.................. 1,794.2 1,789.1
Personal interest income................................
994.8
975.7
Personal dividend income..............................
799.4
813.4
Personal current transfer receipts...................... 2,336.6 2,331.9
Government social benefits to persons......... 2,297.2 2,292.3
Social security............................................
722.3
716.3
Medicare......................................................
557.8
557.9
Medicaid......................................................
416.4
408.0
Unemployment insurance...........................
103.0
99.3
65.0
64.3
Veterans benefits........................................
Other...........................................................
438.6
440.5
Other current transfer receipts from business,
n e t...............................................................
39.4
39.6
Less: Contributions for government social
921.2
930.2
insurance.........................................................
Less: Personal current taxes.................................. 1,408.5 1,448.5
Equals: Disposable personal income (DPI).......... 11,571.1 11,613.8
Less: Personal outlays........................................... 11,114.6 11,184.5
Equals: Personal saving........................................
429.3
456.5
Personal saving as a percentage of DPI...............
3.9
3.7
121.7
101.2
98.7
21.5
14.9
77.1
18.3
58.8
2.5
20.7
14.1
6.0
8.1
30.2
33.7
15.1
18.6
-13.1
-13.3
3.2
12.5
-7.7
-11.2
1.9
-11.8
47.2
38.9
38.1
4.6
0.0
33.6
8.7
24.8
0.8
8.3
10.9
1.2
9.7
11.9
25.1
11.2
13.9
19.2
19.3
9.1
6.1
5.3
-8.7
1.5
5.8
0.2
-0.1
III
IV
24.3
8 2 .6 '
30.3 77.4
24.8 66.1
27.4 66.5
4.0 11.8
1.2
6.1
23.4 54.7
0.3 16.0
23.2 38.7
-2.6 -0.4
5.4 11.3
7.2
1.8
0.2 -8.8 s
7.0 10.6
9.4 22.3,
-8.1
-5.1
-21.1 -19.1
13.0 14.0
-10.7 -4.7
-10.7 -4.9
4.1
6.0
3.9
0.1
-21.0 -8.4
-5.8 -3.7
2.2 -0.7
5.9
1.9
0.0
0.2
-82.6
5.9
3.8
9.0
125.0 30.3 12.3 40.0144.3 78.2 11.9 42.7
153.5 100.5 112.0 69.9
-9.2 -22.4 -100.0 -27.2
Personal income, which is measured in current dol
lars, accelerated in the fourth quarter, increasing $82.6
billion after increasing $24.3 billion. The acceleration
primarily reflected accelerations in wages and salaries
and in rental income of persons that were partly offset
by a downturn in farm proprietors’ income.
Wages and salary disbursements increased $66.1 bil
lion after increasing $24.8 billion. The acceleration re
flected the incorporation of monthly employment,
hours, and earnings data for the fourth quarter from
the Bureau of Labor Statistics.
Farm proprietors’ income decreased $8.8 billion after
increasing $0.2 billion, largely reflecting a downturn
in the prices received by farmers based on the incor
poration of data from U.S. Department of Agriculture.
Rental income increased $22.3 billion after increasing
$9.4 billion. The acceleration primarily reflected a
larger decrease in contract interest, an expense that is
deducted in the calculation of rental income, based on
the incorporation of trade source data on mortgage
loans outstanding and mortgage interest rates.
Personal current taxes accelerated, increasing $40.0
billion after increasing $12.3 billion. Federal taxes ac
celerated, and state and local taxes turned up.
Addenda: Special factors in personal incom e
In government wages and salaries:
Federal pay raise............................................
Reservists' pay...............................................
In current transfers:
AERO..............................................................
Refundable tax credits....................................
In contributions for government social
insurance:
In state unemployment insurance programs:
Change in tax rates and taxable wage base
Social security rate reduction.........................
In federal personal current taxes:
“Making Work Pay” tax credit.........................
Refunds, settlements, and other...................
Note. Dollar levels are from NIPA tables 2.1 and 2.2B.
IVA Inventory valuation adjustment
1.6
6.7
1.6
6.6
1.6
-0.5
0.0
0.2
0.0
0.0
0.0
-0.1
0.0
87.5
2.4
87.5
-2.5
-9.0
0.4
0.0
-0.4
0.0
2.4
0.0
7.5
7.5
-105.4 -105.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
7.5
-105.4
0.0
-93.2
0.0
-93.2
38.6
50.5
CCAdj Capital consumption adjustment
AERO Automatic Earnings Reappraisal Operation
Saving
Personal saving— disposable personal income less personal
outlays—was $429.3 billion in the fourth quarter, a decrease
of $27.2 billion that followed a third-quarter decrease of
$100.0 billion. The smaller fourth-quarter decrease reflected
an acceleration in disposable personal income and a deceler
ation in personal outlays.
In 2011, the saving rate was 4.4 percent; in 2010, it was 5.3
percent, reflecting an acceleration in outlays and a decelera
tion in disposable personal income.
Chart 2. Personal Saving Rate
Percent
8
S eason ally adjusted annual rates
6
4
2
0
2008
U.S. Bureau of Economic Analysis
2009
2010
2011
February 2012
S urvey
of
5
C u r r e n t B u s in e s s
S ource D ata for the A dvance Estim ates
Table 5. Source Data and Key Assumptions for the Advance Estimates of GDP for the Fourth Quarter of 2011
[Billions of dollars, seasonally adjusted at annual rates]
2011
July
Private fixed investment:
Nonresidential structures:
Value of new nonresidential construction put in place.......................................................
Residential structures:
Value of new residential construction put in place:
Single fam ily.......................................................................................................................
Multifamily...........................................................................................................................
Change in private inventories:
Change in inventories for nondurable manufacturing............................................................
Change in inventories for merchant wholesale and retail industries other than motor
vehicles and equipment........................................................................................................
Net exports:2
Exports of goods:
U.S. exports of goods, international-transactions-accounts basis...................................
Excluding gold....................................................................................................................
Imports of goods:
U.S. imports of goods, international-transactions-accounts basis...................................
Excluding gold....................................................................................................................
Net exports of goods................................................................................................................
Excluding g o ld.......................................................................................................................
State and local government structures:
Value of new construction put in place....................................................................................
1. Assumption.
2. Nonmonetary gold is included in balance-of-payments exports and imports, but it is
August
Sept.
Oct.
Nov.
Dec.1
270.7
276.2
280.2
278.5
278.6
278.5
105.7
15.0
106.6
15.7
106.8
15.3
107.4
15.2
109.1
15.4
110.6
15.6
2.3
-14.4
5.1
48.9
10.6
4.8
29.9
24.6
-14.1
66.5
26.1
60.2
1,521.4
1,489.5
1,520.0 1,551.2 1,536.8 1,518.7 1,528.0
1,482.1 1,494.7 1,492.5 1,487.0 1,494.9
2,256.5
2,242.3
-735.1
-752.8
2,251.8 2,265.4 2,239.6 2,276.8 2,307.4
2,236.4 2,246.5 2,223.3 2,259.4 2,289.2
-731.7 -714.2 -702.8 -758.1 -779.4
-754.2 -751.8 -730.8 -772.4 -794.3
249.2
254.5
257.1
253.9
257.3
255.6
not used directly in estimating exports and imports in the national income and product
accounts.
Source Data and Key Assumptions for the Advance Estimates of GDP
While the advance estimates of many components of GDP
are based on 3 months of source data, some estimates are
based on only 2 months of data. For the following items,
the number of months for which data are available is shown
in parentheses.
Personal consumption expenditures: sales of retail stores
(3), unit auto and truck sales (3), and consumers’ shares of
auto and truck sales (2);
Nonresidential fixed investment: unit auto and truck sales
(3), construction spending (value put in place) (2), manu
facturers’ shipments of machinery and equipment (3), and
exports and imports of machinery and equipment (2);
Residential investment: construction spending (value put
in place) (2), single-family housing starts (3), sales of new
homes (2), and sales of existing houses (3);
Change in private inventories: trade and nondurablegoods manufacturing inventories (2), durable-goods man
ufacturing inventories (3), and unit auto and truck invento
ries (3);
Net exports of goods and services: exports and imports of
goods and services (2);
Government consumption expenditures and gross invest
ment: federal outlays (3), state and local government con
struction spending (value put in place) (2), and state and
local government employment (3);
Compensation: employment, average hourly earnings, and
average weekly hours (3); and
Prices: consumer price indexes (3), producer price indexes
(3), and values and quantities of petroleum imports (2).
Unavailable source data
When source data were unavailable, BEA made various
assumptions for December, including the following (table
5):
• A very slight decrease in nonresidential structures,
• An increase in single-family residential structures and a
slight increase in multifamily residential structures,
• An increase in the change in inventories of nondurablegoods manufacturing industries and a large increase in
the change in nonmotor vehicle merchant wholesale and
retail trade inventories,
• An increase in exports of goods excluding gold and a
larger increase in imports of goods excluding gold, and
• A decrease in state and local government structures.
A more comprehensive list is available on BEA’s Web site at
www.bea.gov.
GDP and the Economy
6
February 2012
Real G D P for 2011
Table 6. Real Gross Domestic Product (GDP) and Components
[Seasonally adjusted at annual rates]
Contribution to
Share of
percent
Change from
current-dollar preceding
period change in real
GDP
(percent)
GDP (percentage
(percent)
points)
2011
2010
2011
2010
Gross dom estic p ro d u c t1.............
Personal consum ption expenditures.
100.0
3.0
1.7
71.1
2.0
Goods.................................................
Durable goods................................
Nondurable goods..........................
Services.............................................
24.2
7.7
16.5
46.9
4.3
7.2
2.9
0.9
2.2
3.8
Gross private dom estic investm ent...
12.7
17.9
4.7
1.96
Fixed investment................................
Nonresidential................................
Structures....................................
Equipment and software............
Residential.....................................
12.4
2.6
10.1
2.7
7.4
4.4
-15.8
14.6
6.6
8.6
0.32
0.42
-0.51
0.93
2.2
-4 .3
Change in private inventories............
0.3
1.64
-3 .8
-0.5 1
Net exports o f goods and
s e rv ic e s ..............................................
Exports..............................................................
Goods............................................................
Services.......................................................
Imports..............................................................
Goods............................................................
Services.......................................................
13.8
9.8
4.1
17.7
14.8
8.1
1.7
1.4
4.1
10.3
-1.4
3.0
1.44
0.99
0.53
0.46
0.46
- 0 .1 1
2.8
11.3
14.4
5.0
12.5
14.8
2.9
Governm ent consum ption expenditures and
gross in v e s tm e n t..................................................
20.1
0.7
0.14
Federal..............................................................
National defense..........................................
Nondefense..................................................
State and local.................................................
8.2
5.5
2.7
11.9
4.5
3.3
7.1
0.37
0.18
0.19
-0.23
-
1.8
2011
1.31
1.12
0.19
-1.82
-1.74
-0.08
1. The estimates of GDP under the contribution columns are also percent changes.
N o t e . Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares are from
NIPA table 1.1.10.
Consumer spending picked up slightly in 2011 and
added 1.53 percentage points to real GDP growth after
adding 1.44 percentage points in 2010. Pickups in ser
vices and durable goods were largely offset by a slow
down in nondurable goods.
Nonresidential fixed investment accelerated, adding
0.82 percentage point to real GDP growth after adding
0.42 percentage point. The acceleration reflected an
upturn in structures that was partly offset by a slow
down in equipment and software.
Residential fixed investment decreased less than in
2010, subtracting 0.03 percentage point after subtract
ing 0.11 percentage point. Multifamily structures de
creased less than in 2010, and “other” structures
turned up; single-family structures turned down.
Inventory investment turned down, subtracting 0.20
percentage point from real GDP growth after adding
1.64 percentage points.
Net exports added 0.05 percentage point to real GDP
growth after subtracting 0.51 percentage point, re
flecting a sharp deceleration in imports that was partly
offset by a slowdown in exports.
Government spending decreased 2.1 percent after in
creasing 0.7 percent, the largest contraction in govern
ment spending since 1971.
Federal government spending turned down, reflecting
downturns in both national defense and nondefense
spending.
State and local government spending decreased more
than in 2010; the 2011 decrease was the largest de
crease since 1944.
Chart 3. Contributions to the Change in Real GDP
Chart 4. Key Contributors to the Change in Annual
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In This Issue . . .
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www.bea
February 2012
8
The Role of Profits and Incom e in the Statistical
Discrepancy
By Dylan G. Rassier
HE NATIONAL incom e and product accounts
(NIPAs) o f the Bureau o f Econom ic Analysis
(BEA) include two alternative m easures o f econom ic
output: gross dom estic p roduct (GDP) and gross d o
m estic incom e (GDI). GDP is an expenditure-based
m easure and is estim ated based on spending on final
goods and services. GDI is an incom e-based m easure
and is estim ated based on incom e generated in the
p ro d u ctio n o f goods and services. Before the recession
th at began in the fourth q uarter o f 2007 and ended in
the second qu arter o f 2009, GDI grow th was generally
lower th an GDP grow th, w hich has generated discus
sion ab out w hether the source data and adjustm ents
th at underlie GDP reflect enough econom ic cyclicality.
This article explores an alternative: w hether the source
data an d adjustm ents th at underlie GDI reflect too
m uch econom ic cyclicality and w hether this effect m ay
explain a significant share o f the difference between
GDP an d GDI d uring the dow nturn. In particular, this
article identifies and explains the following four factors
th at require adjustm ents to convert financial- or taxbased source data into econom ic accounting m easures
o f corporate profits and proprietors’ and partnership
incom e (hereafter, profits and incom e):
• M isreporting on tax returns com prises a significant
p o rtio n o f profits and incom e, and while there m ay
be reasons to th in k th at m isreporting w ould be
cyclical in nature, long-term enforcem ent efforts
m ay well offset any cyclicality in reporting, and the
overall cyclical effect o f adjustm ents for m isrep o rt
ing is am biguous.
• C apital gains and losses m ay be leaking into m ea
sures o f profits and incom e, w hich could yield
overly cyclical m easures o f profits and incom e.
• Inconsistent m easurem ent o f stock options in
source data m ay generate an overly cyclical m easure
o f GDI relative to GDP.
•A ssu m p tio n s regarding the capitalization rate o f
purchased software m ay overstate profits and
incom e d u rin g cyclical upturns.
For each o f these factors, additional research is w ar
ranted an d ongoing to understand the potential con
T
trib u tio n o f each factor to differences between GDP
and GDI.
BEA prepares current quarterly estim ates and an
nual estim ates o f GDP and GDI, each o f w hich is sub
ject to several revisions.1 Each revision yields a new
vintage o f estim ates. Each successive current quarterly
vintage incorporates newly available source data. Each
annual vintage incorporates newly available source
data as well as im proved estim ating m ethodologies. In
addition to revising annual estim ates, an annual revi
sion includes revisions to the quarterly estimates. A p
proxim ately every 5 years, BEA prepares a benchm ark
revision, w hich incorporates newly available, com pre
hensive source data, im proved estim ating m eth o d o lo
gies, and definition changes.
In concept, GDP and GDI are equal because expen
ditures by one party in the econom y becom e incom e to
another party. In practice, all vintages o f GDP and GDI
are estim ated from largely independent and incom
plete source data, so the errors in each m easure are n o t
the same. Vintages face tradeoffs between tim eliness
and accuracy. W hile current quarterly vintages offer
the tim eliest look at econom ic outp u t, the accuracy o f
current quarterly vintages is affected m ore th an the ac
curacy o f later vintages by the com pleteness and reli
ability o f the underlying source data. A nnual and
benchm ark revisions im prove accuracy, b u t the result
ing vintages are less tim ely th an the current quarterly
vintages.2 Regardless o f the vintage, discrepancies
betw een GDP and GDI are introduced th ro u g h
1. There are three current quarterly vintages for each quarter: advance,
second, and third. Advance, second, and third quarterly vintages are
released approximately 1,2, and 3 months, respectively, after the end of the
reference quarter. Likewise, there are three annual vintages for each year:
first, second, and third. Annual vintages are released at the end of July for
the previous 3 years. The most recent vintage of annual estimates comes
from the 2011 annual revision, which was released on July 29, 2011. The
2011 annual revision includes the first annual revision for 2010, the second
for 2009, and the third for 2008. In addition, the 2011 annual revision was
the first “flexible” annual revision, which includes revisions to current-dollar GDP and some components back to the first quarter of 2003.
2. However, revision studies generally conclude that annual and bench
mark revisions do not substantively change BEA’s measures of long-term
growth, pictures of business cycles, and trends in major components of
GDP (Fixler, Greenaway-McGrevy, and Grimm 2011).
February 2012
S urvey
of
differences in source data, adjustm ents o f source data
to econom ic concepts and definitions, differences in
interpolation and extrapolation techniques, and
differences in the tim ing o f quarterly seasonal
adjustm ents. Thus, even after annual and benchm ark
revisions are incorporated, differences between GDP
and GDI persist in annual and quarterly estimates.
However, recent w ork shows th at GDP and GDI levels
follow the sam e trend and rarely drift far from each
oth er (Greenaway-M cGrevy 2011).
The difference between GDP and GDI is know n as
the statistical discrepancy. Both GDP and GDI provide
a com plete picture o f econom ic output, so the statisti
cal discrepancy provides an indication o f net m easure
m en t error. In addition, changes in the degree and
direction o f the statistical discrepancy from one period
to an o th er reflect differences in the rates o f grow th b e
tween GDP and GDI. Internationally, statistical agen
cies generally choose one o f two alternatives to handle
the statistical discrepancy. O ne alternative is to publish
a statistical discrepancy as a separate line item in the
national accounts based on the relative reliability o f the
underlying source data. A second alternative is to allo
cate the discrepancy to the com ponents o f o u tp u t
w here m easurem ent errors are m ost likely to exist.3
BEA follows the first alternative and publishes a statis
tical discrepancy as a line item w ith aggregate GDI.
The resulting double-entry accounts yield a break
dow n by com ponent o f GDP and GDI in addition to
an indication o f the consistency between the two sides
o f the accounts.
BEA recognizes strengths and weaknesses o f both
GDP and GDI as m easures used to analyze econom ic
activity and business cyclicality. However, a decision
ultim ately has to be m ade regarding w hich side o f the
national accounts to record the statistical discrepancy.
Given the im p o rtan t role th at corporate profits and
p roprietors’ and partnership incom e play as com po
nents o f GDI and given the challenges o f adjusting
source data to accord w ith econom ic accounting m ea
sures o f profits and incom e, BEA records the statistical
discrepancy w ith GDI in order to reflect the relative re
liability o f the source data and required adjustm ents
underlying GDI relative to GDP. Thus, this article fo
cuses on incom e-side factors and adjustm ents that
have led to concern at BEA about possible m easure
3. For the first alternative, the System of National Accounts 2008 (SNA)
suggests .. it is usual to attach [the discrepancy] to the variant of [national
output] the office feels is least accurate. The aim is to show users something
about the degree of reliability of the published data” ( SNA paragraph
18.16). For the second alternative, the SNA suggests “The alternative is for
the office to remove the discrepancy by examining the data in the light of
the many accounting constraints in the SNA, making the best judgment
possible about where the errors are likely to have arisen and modifying the
data accordingly” (SNA paragraph 18.17).
9
C u r r e n t B u s in e s s
m ent error. In particular, this article focuses on the re
cent behavior o f the statistical discrepancy and
potential cyclicality o f the m easurem ent erro r in p ro f
its and incom e.
Table 1 shows the com ponent shares o f GDI for the
5-year period from 2006 to 2010 using quarterly BEA
data from the 2011 annual revision o f the NIPAs,
w hich provides the m ost recent vintage o f estimates.
This period includes the m ost recent recession (from
the fourth quarter o f 2007 to the second q uarter o f
2009) as determ ined by the Business Cycle D ating
C om m ittee o f the N ational Bureau o f Econom ic Re
search (NBER). Profits and incom e generally account
for 15 to 20 percent o f GDI. Table 1 shows th at profits
declined sharply through the fo u rth quarter o f 2008,
and incom e declined slightly thro u g h the second q u ar
ter o f 2009. The declines in profits and incom e were
offset in p art by increases in the shares o f com pensa
tion, other net operating surplus, and consum ption o f
fixed capital. Table 1 does n o t provide insight regard
ing m easurem ent error b u t does indicate profits and
incom e account for a larger-than-proportionate share
o f any declines in GDI during the recession.4
In addition to profits and incom e, other co m p o
nents o f GDI are subject to m easurem ent error. Like
wise, m easurem ent error affects all com ponents o f
GDP. As a result, som e recent studies have questioned
BEA’s decision to record the statistical discrepancy
w ith GDI and the resulting em phasis on GDP in news
4. A similar perspective of GDP for the same period indicates a sharp
decrease in private investment, which is offset in part by increases in net
exports and government expenditures and gross investment.
Table 1. Component Shares of Gross Domestic Income, 2006-2010
[Percent]
Other net Consump
Compen Taxes less Proprietors’ Corporate
operating tion of fixed
sation
profits
subsidies income
surplus
capital
2006: I ...........
II ..........
I ll.........
IV.........
2007: I ...........
II..........
I ll.........
IV.........
2008: 1...........
II .......
I ll.........
IV.........
2009: 1...........
II .......
I ll.........
IV.........
55.0
54.9
54.7
55.3
55.7
55.7
56.1
56.4
56.6
56.2
56.2
57.1
56.6
56.8
56.4
55.8
2010: I ...........
I I..........
I ll.........
IV
55.0
55.1
55.0
54.7
6.9
6.9
6.8
6.8
6.9
6.9
6.9
6.9
6.8
6.9
6.9
6.9
6.9
7.0
6.9
7.0
6.9
6.9
6.8
6.8
8.4
8.4
8.3
8.2
7.9
7.8
7.7
7.7
7.8
7.8
7.7
7.4
6.9
6.7
6.7
6.8
6.9
7.1
7.2
7.3
10.0
9.9
10.2
9.5
8.8
8.9
8.0
7.3
7.5
7.8
7.8
7.8
8.2
8.2
8.5
8.9
6.6
6.4
6.2
4.4
5.9
6.7
7.8
8.5
9.5
9.9
10.1
10.8
10.1
9.3
8.8
8.7
12.1
12.2
12.2
12.3
12.5
12.5
12.7
12.7
12.7
12.8
13.0
13.4
13.6
13.6
13.4
13.3
9.5
9.6
9.8
10.1
8.7
8.4
8.3
8.1
13.0
12.9
12.9
12.9
N o t e s . The shaded area is the date of the recession determined by the Business Cycle Dating
Committee of the National Bureau of Economic Research. GDI components are from NIPA table 1.10.
The data are from the 2011 annual NIPA revision.
10
February 2012
Statistical Discrepancy
releases (for example, see Klein and M akino 2000; Fixler an d Nalewaik 2009; Nalewaik 2010). As a steward o f
the U.S. national accounts, BEA does n o t intend to
pro m o te one m easure over another, and the recent
w ork generally supports BEA’s conclusion th at b oth
GDP an d GDI are valid m easures o f output. However,
how m uch each m easure m ight be weighted in a com
bined m easure and w hether tem poral variation should
be assum ed to indicate less reliability or m ore reliabil
ity rem ains unresolved and, in som e cases, m ay ru n
co ntrary to o ther studies (for example, see Weale 1992;
Sm ith, Weale, and Satchell 1998; G rim m and Parker
1998; Fixler an d G rim m 2002 2005; and GreenawayM cGrevy 2011). In addition, m ost o f the w ork to date
on com bining GDP and GDI focuses on weighting ag
gregate m easures rather th an on weighting the u n d er
lying source data. As an alternative, BEA is currently
conducting research on weighting the underlying
source data based on reliability in a m odel to distribute
the statistical discrepancy before aggregating the com
p o n en t estim ates (for example, see C hen 2006, 2010).
W hile weighting the underlying source data receives
strong su p p o rt from a theoretical perspective (for ex
am ple, see Stone, Meade, and C ham pernow ne 1942;
Byron 1978), the practicality and feasibility o f w eight
ing the underlying source data have yet to be deter
m ined.5
The first section presents an accounting fram ew ork
to describe the role o f profits and incom e in the statis
tical discrepancy. The section also discusses em pirical
evidence to explain the focus on profits and incom e
rather th an on other com ponents o f GDI and GDP.
The next section identifies and explains the factors o f
profits an d incom e th at are m ost likely to contribute to
the statistical discrepancy. The final section offers
som e concluding observations.
Profits and Incom e and
the S tatistical D iscrepan cy
Accounting framework
To provide som e conceptual context, we follow Klein
and M akino’s (2000) construction o f the national ac
counting identity.6 The expenditure-based m easure o f
5. Weighting underlying source data in a statistical framework has been
successfully implemented at BEA to reconcile and balance the gross operat
ing surplus component of the 2002 input-output accounts and GDP by
industry accounts (Rassier et al. 2007).
6. Klein and Makino (2000) argue that BEA’s decision to record the statis
tical discrepancy with GDI is tenable but may result in nonrandom error in
the NIPAs. As a result, the authors argue that the statistical discrepancy
should be distributed among the components of GDP and GDI. While their
conclusions are subject to question (see Grimm 2007), their analytic frame
work is uncontroversial and useful to explain BEA’s decision to record the
statistical discrepancy with GDI.
o u tp u t can be w ritten as the sum o f consum er expen
ditures (C), investm ent (i), governm ent expenditures
(G), and exports (X) less im ports (M ). Likewise, the
incom e-based m easure o f o u tp u t can be w ritten as the
sum o f wages ( W), profits and incom e (P), rents and
interest (R ), and taxes on prod u ctio n ( T) less subsidies
(S). Thus, if all these variables are m easured in accor
dance w ith econom ic accounting principles, the ac
counting identity for o u tp u t is as shown in the
following equation:
C *+/* + G *+X *-M *
=
+p*
+ £* +
(1)
7^ _ $ *
The left side o f equation (1) captures all final expen
ditures on goods and services in the economy, and the
right side captures all incom e accruing to the in p u t
factors used for the prod u ctio n o f the goods and ser
vices. The asterisks in equation (1) indicate co m p o
nents m easured w ithout error. In practice, each o f the
com ponents is usually estim ated from independent
and incom plete source data. In addition, at least som e
o f the com ponents in equation (1) are estim ated from
source data th at are n o t consistent w ith econom ic ac
counting concepts and thus require adjustm ents. Thus,
the identity is inevitably n o t satisfied, resulting in a sta
tistical discrepancy (SD) as follows:
SD = (C + I + G + X - M )
- ( W+P +R + T -S )
(2)
In equation (2), asterisks are rem oved to reflect m ea
surem ent error in each o f the com ponents.
Klein and M akino (2000) p o in t out th at firm-level
profits and incom e ( I I ) are never directly estim able
b u t are m erely a residual betw een sales and costs as
follows:7
n = S a l e s - C o s ts
(3)
From a financial accounting perspective, the results o f
equation (3) m ay vary across firm s because o f flexibil
ity in the application o f financial accounting rules.
Likewise, the results o f equation (3) m ay vary between
financial and tax accounting records w ithin a firm b e
cause o f differences betw een financial and tax account
ing rules.
From an econom ic accounting perspective, a m ea
sure o f profits and incom e from equation (2) can be
obtained by calculating the residual betw een the
m easured expenditure-based com ponents an d the
7. We use different notation for profits and income in equation (3) than
in equation (1) because P in equation (1) denotes aggregate profits and
income that are consistent with economic accounting concepts while
(El) in equation (3) denotes firm-level profits and income that are consis
tent with financial or tax accounting concepts.
February 2012
S urvey
of
C u r r e n t B u s in e s s
m easured incom e-based com ponents other th an prof
its and incom e as follows:
P =
(c + i + G +X - M )
Sales
(4)
- (W+R + T-S)
Costs
In equation (4), the expenditure-based com ponents in
the first set o f parentheses correspond to sales in equa
tio n (3), an d the incom e-based com ponents in the sec
o n d set o f parentheses correspond to costs. If the
econom ic accounting m easure o f profits and incom e is
d eterm ined by equation (4), the statistical discrepancy
is allocated entirely to profits and incom e, w hich is
m ost likely incorrect.
Alternatively, a m easure o f profits and incom e for
equation (2) can be obtained by aggregating profits
and incom e for each firm j from equation (3) as fol
lows:
P = £ I I •+A d j u s t m e n t s
j
J
(5)
The adjustm ents in equation (5) are required in order
to obtain an econom ic accounting m easure o f profits
an d incom e based on source data th at m ight be incon
sistent w ith econom ic accounting concepts. In contrast
to equation (4), equation (5) provides a check on the
accuracy o f the other m easured com ponents in equa
tio n (2), an d uncertainty rem ains as to the allocation
o f the statistical discrepancy.
Practical considerations
In practice, GDP and GDI in the NIPAs are estim ated
from largely independent and incom plete source data.
In addition, profits and incom e in the NIPAs are esti
m ated according to equation (5) rather than equation
(4). As sum m arized in equation (2), the statistical dis
crepancy reflects the com pleteness and reliability of
the underlying source data and the consistency of
the underlying source data w ith econom ic account
ing concepts for each o f the m easured expenditurebased an d incom e-based com ponents. In equation (5),
adjustm ents are required to m anage incom plete and
less reliable source data and source data th at are incon
sistent w ith econom ic accounting concepts. A djust
m ents are generally required for all expenditure-based
an d incom e-based com ponents in the NIPAs, b u t all
quarterly and annual vintages o f GDI are generally
subject to m ore adjustm ents than corresponding v in
tages o f GDP (G rim m and W eadock 2006; H oldren
and G rim m 2008). W ith som e exceptions, the source
data underlying current quarterly estim ates and a n
11
nual estim ates o f GDP are collected by the Census Bu
reau in a set o f surveys th at are designed to provide
data consistent w ith econom ic accounting concepts. In
contrast, the source data underlying cu rren t quarterly
estim ates and annual estim ates o f profits an d incom e
are generally collected from financial- and tax-based
source data, w hich are often inconsistent w ith eco
nom ic accounting concepts. In addition to conceptual
inconsistencies, tax-based source data underlying pro f
its and incom e are less tim ely th an the source data u n
derlying GDP. As a result, current quarterly estim ates
and the first annual estim ates o f GDP are based on a
m ore com plete set o f source data th an the estim ates o f
profits and incom e for the sam e vintages.8 Given the
im p o rtan t roles th at profits and incom e play as com
ponents o f GDI and the challenges o f adjusting finan
cial- and tax-based source data for com pleteness,
reliability, and econom ic accounting concepts, BEA re
cords the statistical discrepancy w ith GDI, reflecting
the relative reliability o f the source data and required
adjustm ents underlying GDI relative to GDP.
To be clear, com ponents o f GDI other th an profits
and incom e also pose estim ation challenges th at likely
contribute to the statistical discrepancy. Likewise, esti
m ation challenges exist for com ponents o f GDP. Re
lated research has used aggregate BEA data and applied
statistical analyses to determ ine the contributions o f
GDI com ponents and GDP com ponents to the statisti
cal discrepancy. Klein and M akino (2000) use regres
sion analysis to estim ate the statistical discrepancy for
the period 1947 to 1997; they found th at in addition to
profits and incom e, the discrepancy is affected signifi
cantly by exports and governm ent expenditures. H ow
ever, Klein and M akino’s (2000) results were n o t
supported w hen using m ore recent vintages o f esti
m ates in G rim m (2007), w hich used regression analy
sis to estim ate the statistical discrepancy for 1970 to
2004. G rim m (2007) found th at the effect o f any GDI
or GDP com ponent on the statistical discrepancy is in
determ inate for the period because o f m ulticollinearity
A dditional related research used aggregate BEA data
to determ ine w hether GDI, GDP, or a com bination o f
GDI and GDP offers a better m easure o f tru e eco
nom ic output. Fixler and Nalewaik (2009) m ade the
reasonable assum ption th at revisions to GDP an d GDI
add news to the estim ates (M ankiw and Shapiro 1986)
and applied a revision decom position for 1984 to 2005
to find th at the idiosyncratic variation in GDI grow th
was higher than the idiosyncratic variation in GDP
8. See Grimm and Weadock (2006), Holdren and Grimm (2008), and
Landefeld (2010) for further discussion.
12
Statistical Discrepancy
grow th after revisions. Fixler and Nalewaik (2009) a t
trib u ted the increased variation in GDI grow th to news
and concluded th at GDI should be weighted m ore
th an GDP in a com bined m easure o f o u tp u t w ithout
suggesting a com bination o f appropriate weights. In
addition, Nalewaik (2010) applied statistical tests to
determ ine w hether grow th in GDP or GDI better re
flects business cyclicality in o u tp u t grow th for 1978 to
2009, and the study concluded th at GDI grow th is a
better m easure o f cyclicality w ithout providing a rigor
ous analysis for a weighted m easure o f output.
Greenaway-M cGrevy (2011) applied a Kalm an filter
to determ ine tru e econom ic o u tp u t for the period
1983-2009 and concludes th at the m easurem ent error
o f GDP is sm aller th an the m easurem ent error o f GDI.
Greenaway-M cGrevy (2011) suggested th at GDP
should be weighted approxim ately 60 percent and GDI
should be w eighted approxim ately 40 percent in a
com bined m easure o f output.
O th er related research used disaggregated BEA data
to determ ine the distribution o f the statistical discrep
ancy to GDI and GDP com ponents. C hen (2010) ap
plied a generalized least squares (GLS) m odel to
distribute the statistical discrepancy in 2002 to the
com ponents o f expenditure-based GDP in the NIPAs,
the com ponents o f value added in the incom e-based
GDP by in d u stry accounts, and the gross o u tp u t and
interm ediate inputs o f the in p u t-o u tp u t accounts
based on the relative reliabilities o f underlying source
data in all the accounts. She found th at the optim al ad
justm ents to gross output, interm ediate inputs, and
GDP com ponents are relatively small, while the o p ti
m al adjustm ents to value added are relatively large due
to the relatively low reliability o f tax-based source data
an d adjustm ents included in the gross operating sur
plus co m ponent o f value added.9 In earlier work, C hen
(2006) applied a GLS m odel to distribute the statistical
discrepancy in 1997 to the com ponents o f value added
in the incom e-based GDP by industry accounts and to
gross o u tp u t and interm ediate inputs o f the in p u t-o u t
p u t accounts. In contrast to C hen (2010), the com po
nents o f expenditure-based GDP were held fixed in
C hen (2006). Similar to C hen (2010), C hen (2006)
found relatively small adjustm ents to gross o u tp u t and
interm ediate inputs and relatively large adjustm ents to
value added given the relative reliabilities o f the u n d er
lying data.
February 2012
In sum , the studies th at used disaggregated data
w ith statistical analyses have yielded a consistent set o f
results and conclusions, whereas studies that used ag
gregated data w ith statistical analyses have so far
yielded a m ixed set o f results and conclusions. In other
words, a b o tto m -u p approach m ay be necessary to
draw conclusions about the extent to w hich the statis
tical discrepancy is likely to be attributable to expendi
ture-based and incom e-based com ponents. Thus, from
a practical perspective, BEA m u st rely on its experience
w ith underlying source data in its decision to record
the statistical discrepancy w ith GDI.
Cyclicality
The behavior o f the statistical discrepancy m ay look
different on a quarterly basis th an on an annual basis
because quarterly variation is netted o u t in annual esti
m ates.10 The behavior o f the statistical discrepancy
during cyclical tu rn in g points is particularly im p o rtan t
to policym akers and other decisionm akers because dif
ferences between GDP and GDI can com plicate the de
cisionm aking process. Likewise, w hen it comes to
m aking real-tim e decisions, cu rren t quarterly vintages
o f GDP and GDI are tim elier th an vintages based on
annual and benchm ark revisions. Regardless o f the
vintage, the cyclicality o f underlying source data and
required adjustm ents affecting GDP and GDI is im
p o rta n t to consider in the decision about where to re
cord the statistical discrepancy because source data
and adjustm ents th at are overly cyclical or n o t cyclical
enough are likely to yield a less accurate m easure o f
econom ic output.
C hart 1 presents the quarterly statistical discrepancy
as a percent o f GDP for the 5-year period 2006-2010.
This period includes the recession th at began in the
fourth quarter o f 2007 and ended in the second q u ar
ter o f 2009, as determ ined by NBER’s Business Cycle
D ating C om m ittee. Before the recession th at began in
2007, the quarterly statistical discrepancy changes
from relatively large and negative in the first qu arter to
relatively large and positive by the last quarter. W ith
the exception o f the period from the first q uarter o f
2006 to the first q uarter o f 2007, the quarterly statisti
cal discrepancy as a percent o f GDP is less th an 1 p er
cent.
10. While first annual estimates are generally based on the same source
data used for quarterly interpolations and extrapolations, second and third
annual estimates are based on tax-based source data. Thus, quarterly varia
9. Corporate profits, proprietors’ income, and partnership income consti tion related to the second and third annual estimates comes from the source
data used for quarterly interpolations.
tute a large proportion of gross operating surplus.
February 2012
Survey
of
C u r r e n t B u s in e s s
C hart 2 presents real GDP levels and real GDI lev
els.11 The difference between the two series reflects the
variation in the statistical discrepancy as show n in
chart 1. As show n in chart 2, real GDI is generally
higher th an real GDP before the third quarter o f 2007
b u t relatively flat for the three quarters leading to the
NBER peak in the fourth quarter o f 2007. Real GDI in
11. Real GDP and real GDI are published in chained 2005 dollars. We
deflate current-dollar GDI using the implicit price deflator for GDP
because there is no price deflator specifically for GDI.
13
creases slightly in the first quarter o f 2008 before de
creasing significantly during the rem aining quarters o f
the recession. At b oth the NBER peak and the NBER
trough, real GDI is lower than real GDP. Real GDP in
creases consistently in the quarters preceding the
NBER peak in 2007 b u t decreases slightly for the first
quarter o f 2008 before increasing slightly and th en de
creasing significantly during the rem aining quarters o f
the recession.
14
Statistical Discrepancy
C hart 3 presents the percent changes from the pre
ceding p eriod in real GDP and real GDI. As shown in
chart 3, b o th GDP and GDI grow th begin to slow in
the second quarter o f 2006. Thus, the m easures o f o u t
p u t dem onstrate weakness p rio r to the NBER peak.
The percent change in real GDI seesaws for the three
quarters before the NBER peak and increases in the
first qu arter o f 2008 before decreasing significantly in
the rem aining quarters o f the recession. The percent
change in real GDP generally decreases in quarters p re
ceding and im m ediately after the NBER peak before
increasing and then decreasing significantly during the
recession. Thus, chart 2 and chart 3 show sim ilar p a t
terns for GDP and GDI for the last half o f the recession
b u t slightly different patterns for the quarters leading
up to the NBER peak and im m ediately after the NBER
peak.
Factors of Profits and Incom e That
C on tribu te to the Statistical D iscrepan cy
This section explains the following factors th at require
adjustm ents to convert financial- or tax-based source
data into econom ic accounting m easures o f profits and
incom e: (1) m isreporting, (2) capital gains and losses,
(3) employee stock options, and (4) produced intangi
bles. BEA considers potential m easurem ent error in
these factors to be likely contributors to the statistical
discrepancy regardless o f econom ic cyclicality. H ow
ever, som e factors m ay be m ore likely than others to
contribute to the statistical discrepancy during cyclical
tu rn in g points because of cyclicality in the related
m easurem ent error. W hile ongoing w ork at BEA and
other federal agencies attem pts to address and m itigate
the related m easurem ent error, the w ork is lim ited by
conceptual differences and regulatory reporting re
quirem ents underlying the financial- and tax-based
source data.
Misreporting
Studies conducted at the Internal Revenue Service
(IRS) have determ ined th at taxpayers make significant
tax m isreporting errors. Because tax-based source data
are used to estim ate profits and incom e for annual and
benchm ark revisions, adjustm ents are required for
m isreporting by taxpayers. BEA makes separate m isre
porting adjustm ents for corporate profits and for p ro
prietors’ and partnership incom e. Any inaccuracy in
the m isreporting adjustm ents affects the cyclicality o f
m easured profits and incom e, b u t as discussed below,
it is unclear how any errors in the m isreporting adjust
m ents m ay affect the cyclicality o f profits and incom e.
M isreporting data for proprietors’ and partnership
incom e com e from two sources. First, the IRS provides
industry-level tabulations o f und errep o rted taxable in
com e based on a study conducted for the 2001 tax
year under the N ational Research Program (NRP).
Because 2001 is the m ost recent year for which NRP
data are available, BEA extrapolates underreporting
am ounts from the 2001 data. Second, the Census Bu
reau provides industry-level estim ates o f nonrep o rtin g
based on annual exact-m atch studies. The n o n re p o rt
ing p o rtio n o f the m isreporting adjustm ent is small
relative to the underreporting portion.
M isreporting data for corporate profits come
Chart 3. Quarterly Percent Change in Real GDP and Real GDI, 2006-2010
Percent
NBER National Bureau of Economic Research
N o t e s .Percent changes in real GDP are from NIPA table 1.1.1, and those in real GDI are from NIPA table 1.7.1. The data are from the 2011 annual NIPA revision.
U.S. Bureau of Economic Analysis
February 2012
February 2012
S urvey
of
C u r r e n t B u s in e s s
prim arily from annual IRS corporate audit reports,
which provide estim ates o f additional tax am ounts
owed as determ ined through audits. BEA supplem ents
the au d it reports w ith IRS tabulations o f the am ounts
actually collected versus the am ounts recom m ended in
the au d it reports. To determ ine m isreported profits,
BEA m akes judgm ents regarding m arginal tax rates. In
addition, given the n o n ra n d o m nature o f the audit
sam ple, BEA makes judgm ents regarding the applica
tio n o f the audit am ounts to the universe o f corpora
tions.
Given the patchw ork o f m isreporting source data
an d the age o f som e m isreporting source data, BEA
considers the m isreporting adjustm ents to be o f rela
tively low reliability for assessing year-to-year changes.
In addition, the m isreporting adjustm ents com prise a
significant am o u n t o f corporate profits and p ro p ri
etors’ an d p artnership incom e. As a percent o f p ro p ri
etors’ an d partnership incom e in the NIPAs, the
m isreporting adjustm ents for proprietors and p artn e r
ships have been approxim ately 50 percent since 1970.
As a percent o f profits before taxes in the NIPAs, the
m isreporting adjustm ents for corporations have gener
ally fluctuated betw een 15 and 25 percent. Thus, the
m isreporting adjustm ents for proprietors and p artn e r
ships are generally larger as a percent th an the m isre
p o rtin g adjustm ents for corporations.
BEA does n o t m ake any explicit cyclical adjustm ents
to its overall m isreporting adjustm ents. This is in part
due to u n certainty about the potential effect o f cycli
cality on m isreporting. For example, if m isreporting
increases during a dow nturn as businesses attem pt to
retain a larger after-tax share o f their business incom e,
the decline in profits and incom e could be overstated
d u rin g the d o w nturn. However, long-term efforts by
the IRS to increase the num ber o f exam inations and
audits overall, including audits on high-incom e indi
viduals, an d to increase the num ber o f audits o f sole
proprietors and partnerships m ay result in a tren d de
crease in overall m isreporting.
C onfronted w ith this uncertainty, the effect o f b oth
procyclical an d countercyclical m isreporting are as
sum ed in sim ulating the effect on the statistical dis
crepancy for the m ost recent recession. In order to
sim ulate the change in the statistical discrepancy in the
case o f countercyclicality, we assum e a 10 percent
increase in annual m isreporting for 2008. If total
m isreporting increased 10 percent in 2008, the statisti
cal discrepancy w ould change from -$2.4 billion to $73.3 billion, and the percent change in real GDI
w ould increase from -0 .4 to 0.1. Likewise, if m isre
15
porting is procyclical and decreased 10 percent in
2008, the statistical discrepancy w ould change from
-$ 2 .4 billion to $68.3 billion, and the percent change
in real GDI w ould decrease from -0 .4 percent to -0 .9
percent.
Capital gains and losses
Capital gains and losses reflect changes in prices rather
than changes in quantities or econom ic production. In
other words, capital gains and losses do n o t reflect
profits and incom e arising from productio n and
should be excluded from the m easures o f profits and
incom e in the NIPAs. However, b o th financial- and
tax-based source data include capital gains an d losses,
w hich requires BEA to m ake adjustm ents to remove
them . There are two areas where BEA has concerns re
garding the accurate removal o f capital gains and losses
due to a lack o f data: gains and losses attributable to
corporate partners and gains and losses associated w ith
m ark-to-m arket (or fair value) accounting. To the ex
tent th at BEA cannot identify capital gains an d losses
attributable to corporate partners or m ark-to -m ark et
accounting, m easured profits and incom e in the NIPAs
m ay be affected.
Corporate partners
C apital gains and losses attributable to corporate p a rt
ners m ay be leaking into m easures o f partnership in
come, w hich could result in an overly cyclical m easure
o f partnership incom e.
A nnual tax-based source data on b o th corporate
profits and partnership incom e include partnership in
com e attributable to corporate partners. To prevent
double-counting, BEA removes the corporate share
from the NIPA m easure o f partnership incom e. Source
data on the corporate share o f NIPA partnership in
com e are n o t available, b u t data on the corporate share
o f tax-based partnership incom e are available. H ow
ever, the tax-based partnership incom e attributable to
corporate partners includes capital gains and losses. In
order to be consistent w ith NIPA partnership incom e,
the capital gains and losses m ust be rem oved from the
corporate share o f tax-based partnership incom e.12
Thus, the adjustm ent to remove the corporate share
from the NIPA m easure o f partnership incom e is
12. Capital gains and losses are included in tax-based partnership income
as part of portfolio income and losses. In addition to capital gains and
losses, portfolio income and losses includes interest, dividends, and royal
ties. BEA removes all portfolio income and losses. However, the focus here
is on the capital gains and losses portion because of the effect on partner
ship income.
Statistical Discrepancy
16
determ ined by subtracting an approxim ation o f capital
gains and losses from the corporate share o f tax-based
p artnership incom e.
Table 2 displays net capital gains and losses attrib u t
able to partnerships as a p ro p o rtio n o f net partnership
incom e published by the IRS’s Statistics o f Income
( SO I) for the 10-year period 1999-2008.13 (Data for ta
ble 2 are n o t available by type o f partner). The p ro p o r
tion o f n et capital gains and losses in table 2 appears to
be procyclical w ith relatively high proportions in years
preceding NBER peaks and relatively low proportions
in years following NBER peaks. Given the unavailabil
ity o f data by type o f partner, BEA approxim ates the
corporate share o f capital gains and losses w ith a com
bination o f SO I tabulations o f capital gains and losses
and assum ptions regarding the corporate share o f cap
ital gains and losses. If capital gains and losses are dis
proportionately high
relative to
the
chosen
assum ptions, the corporate p artn e r adjustm ent would
yield a m easure o f partnership incom e th at is too high.
If capital gains and losses are disproportionately low
relative to the chosen assum ptions, the corporate p a rt
ner adjustm ent w ould yield a m easure o f partnership
incom e th at is too low. Thus, while BEA makes the best
estim ate possible o f partnership incom e given the
available data, the m easure of partnership incom e is
subject to the procyclicality o f capital gains and losses
based on the corporate p artn e r adjustm ent.
Mark-to-m arket accounting
In addition to partnership incom e, capital gains and
losses m ay be leaking into m easures o f corporate prof13 . Net capital gains include short-term and long-term capital gains and
losses. SOI data for more recent years have not yet been published.
Table 2. Proportion of Net Capital Gains
in Net Partnership Income, 1999-2008
[Percent]
Net capital
gains proportion
1999...................................................................................................
34.6
2000...................................................................................................
37.4
2001...................................................................................................
11.0
2002...................................................................................................
1.6
2003...................................................................................................
19.3
2004...................................................................................................
34.9
2005...................................................................................................
37.0
2006...................................................................................................
39.3
2007...................................................................................................
46.7
2008...................................................................................................
1.6
N o t e s . Net capital gains include short-term and long-term capital gains and losses.
The shaded areas are approximate dates of recessions determined by the Business Cycle Dating
Committee of the National Bureau of Economic Research.
The data are from the Internal Revenue Service’s Statistics of income.
Net capital gains include short-term and long-term capital gains and losses.
February 2012
its through m ark-to-m arket accounting practices,
w hich could yield an overly cyclical m easure o f co rp o
rate profits.
W hile the m ischaracterization o f capital gains and
losses as ordinary incom e and losses and vice versa is
possible, BEA has no evidence to suggest systematic
m ischaracterization in either financial- or tax-based
source data. However, capital gains and losses associ
ated w ith m ark-to-m arket accounting rules m ay be re
quired to be characterized and reported as ordinary
incom e and losses in financial statem ents and tax re
turns. In this case, ordinary incom e and losses refer to
incom e and losses arising from production and used
by BEA to derive econom ic accounting m easures of
profits.
U nder m ark-to-m arket accounting rules, an asset
held at the end o f a reporting period m ay be treated as
sold at its fair value even if the asset was n o t actually
sold. Likewise, a liability held at the end o f a reporting
period m ay be treated as transferred even if the liability
was n o t actually transferred. As a result, capital gains
and losses m ay be recognized in financial statem ents or
on tax returns, b u t they need to be excluded from p ro f
its for econom ic accounting purposes. However, b e
cause o f a lack o f data, BEA’s adjustm ents for capital
gains and losses in financial- or tax-based source data
m ay n o t capture m ark-to-m arket gains and losses th at
are required to be reported as ordinary incom e and
losses. W hile m ethods for valuing the asset or liability
m ay differ un d er financial accounting rules an d tax ac
counting rules, the application o f m ark-to-m arket ac
counting m ay differ considerably un d er financial
accounting rules and tax accounting rules.
Tax ac co u n tin g rules. U nder tax accounting rules,
gains and losses associated w ith hedging transactions
that are conducted in the norm al course o f a taxpayer’s
business are generally required to be characterized and
reported on an incom e tax re tu rn as p art o f ordinary
incom e and losses.14 For example, a taxpayer th at m a n
ages future in p u t costs w ith a hedge w ould recognize
ordinary incom e o r losses associated w ith the hedge.
Likewise, a taxpayer th at uses a hedge to m anage in ter
est-rate risk related to a future debt issuance w ould
recognize ordinary incom e or losses associated w ith
the hedge. W hile the taxpayer has som e flexibility in
choosing an accounting m ethod for recognizing gains
and losses associated w ith hedging transactions, these
gains and losses m ust generally be recognized in the
same period as gains and losses associated w ith the
14. Tax rules regarding the definition and identification of hedging trans
actions and regarding the treatment of gains and losses associated with
hedging transactions are provided in Treasury Regulations §1.1221-2.
February 2012
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underlying asset or liability.15 In cases where a hedge
and the underlying asset or liability are b o th disposed
o f in the sam e year, recognizing the gains and losses
m ay satisfy the recognition requirem ent. However, a
hedging transaction m ay also be accounted for under
m ark -to -m ark et accounting in order to satisfy the rec
ognition requirem ent, w hich results in capital gains
an d losses recognized on the taxpayer’s incom e tax re
tu rn as ordinary incom e and losses. No separate line
item is required on the tax retu rn for the gains and
losses associated w ith the m ark-to-m arket accounting.
Thus, BEA’s adjustm ents to tax-based source data for
capital gains and losses does n o t account for m ark-tom arket gains and losses associated w ith hedging tran s
actions.
IRS schedule M -3 is a recent inform ation form that
corporations w ith $10 m illion or m ore in assets are re
quired to file. Schedule M -3 provides previously u n
available details regarding receipts and deductions
reported on a corporate incom e tax return; one o f the
line item s on schedule M -3 is for hedging transactions.
SO I has recently published tabulations o f schedule
M -3 for 2008, showing a hedging transactions loss of
$95.1 billion. Assum ing hedging transactions include
som e m ark -to -m arket gains and losses, n o t adjusting
for the m ark-to-m arket gains and losses could yield an
overly cyclical annual m easure o f profits and incom e
and contribute to the statistical discrepancy. However,
w ith o u t m ore data and further study, BEA has no d i
rect evidence regarding the degree or cyclicality o f the
m ark-to-m arket gains and losses included in hedging
transactions.
Financial accounting rules. U nder financial ac
counting rules, m ark-to-m arket accounting is required
on a recurring basis (that is, periodically) for som e fi
nancial assets and liabilities and m ay be elected for
o th er financial assets and liabilities. Examples o f finan
cial assets an d liabilities include investm ent securities,
derivative instrum ents, loans and other receivables,
notes and other payables, and debt instrum ents issued.
N onfinancial assets and liabilities are generally ac
counted for at historic cost w ith fair value gains or
losses recognized as ordinary gains or losses only w hen
the value o f an asset o r liability is considered to be
“oth er-th an -tem porarily” im paired. Since gains or
losses associated w ith oth er-th an -tem p o rary im pair
m en t are only recognized on a nonrecurring basis,
nonfinancial assets and liabilities are outside the cu r
rent scope. Thus, the focus here is on financial ac-
17
counting rules th at require or allow m ark-to-m arket
accounting for financial assets and liabilities.16
Financial accounting rules distinguish three classes
o f debt and equity investm ent securities: (1) debt secu
rities intended to be held to m aturity, (2) debt an d eq
uity securities bought prim arily for sh o rt-term trading
purposes, and (3) debt and equity securities th at are
available for sale b u t n o t classified in the previous two
classes.17 H eld-to-m aturity securities are accounted for
at historic cost. M ark-to-m arket accounting is re
quired on a recurring basis for the second o f the three
classes— trading securities— and the th ird class— available-for-sale securities. Trading securities include
m ortgage-backed securities th at are held for sale in
conjunction w ith m ortgage banking activities. M arkto-m arket gains and losses generated by trading securi
ties are required un d er financial accounting rules to be
included w ith earnings in the incom e statem ent (that
is, ordinary incom e or losses) w ith a separate disclo
sure o f the am o u n t in the notes to the financial state
m ents. No separate line item is required in the
financial statem ents for the gains and losses associated
w ith the m ark-to-m arket accounting. M ark-to-m arket gains and losses generated by available-for-sale se
curities are required to be included directly in
shareholder’s equity rather th an in earnings. Thus,
earnings reported in financial statem ents m ay include
capital gains and losses associated w ith trading securi
ties b u t n o t available-for-sale securities.
Financial accounting rules also require m ark-tom arket accounting on a recurring basis for derivative
assets and liabilities, including derivatives th at qualify
as hedges.18 M ark-to-m arket gains and losses generated
by derivative assets and liabilities and derivatives quali
fied as hedges o f changes in fair value o f an asset or lia
bility are required to be included w ith earnings in the
incom e statem ent (that is, ordinary incom e or losses)
w ith no separate line item to distinguish the m ark-tom arket gains or losses. In the aggregate, gains o r losses
associated w ith derivative assets should be offset by
gains or losses associated w ith derivative liabilities.
However, earnings available in disaggregated source
data m ay include capital gains and losses associated
w ith derivative instrum ents. Likewise, gains or losses
associated w ith hedged assets or liabilities are p resu m
ably offset only to the extent o f the gains or losses on
the qualified derivative. Thus, earnings reported in fi
nancial statem ents m ay include capital gains and losses
16. Financial accounting rules for fair value measurement are provided in
Statement of Financial Accounting Standards ( SFAS) number 157 or topic
15. Tax rules regarding the accounting methods for hedging transactions 820 in the new Accounting Standards Codification (ASC).
and regarding the recognition of gains and losses associated with hedging
17. Financial accounting rules for investments in debt and equity securi
transactions are provided in Treasury Regulations §1.446-4 for most tax
ties are provided in SFAS number 115 or ASC topic 320.
payers except securities dealers. Accounting methods for securities dealers
18. Financial accounting rules for derivative instruments and hedging
are provided in Treasury Regulations §1.475.
activities are provided in SFAS number 133 or ASC topic 815.
18
Statistical Discrepancy
associated w ith derivative instrum ents and financial
assets and liabilities th at have n o t been offset by
hedges.
In addition to requiring m ark-to-m arket account
ing for investm ent securities and derivative in stru
m ents, financial accounting rules allow com panies to
elect m ark -to -m arket accounting for other financial
assets and liabilities, such as receivables, payables, and
debt in stru m en ts.19 A m ark-to-m arket election is gen
erally applied to an individual in stru m en t and is irre
vocable. In addition, sim ilar to trading securities and
derivative instrum ents, m ark-to-m arket gains and
losses associated w ith an election are required to be in
cluded w ith earnings in the incom e statem ent (that is,
ord in ary incom e or losses) w ith no separate line item.
The m ark -to -m arket election has been broadly avail
able since 2008, so earnings reported in recent finan
cial statem ents m ay include capital gains and losses
associated w ith the financial assets and liabilities cov
ered by the accounting rules.
BEA uses financial-based source data for quarterly
indicators o f corporate profits in som e industries. In
particular, BEA uses quarterly financial reports (QFRs)
provided by the Census Bureau for m ining, m anufac
turing, wholesale trade, and retail trade industries.
QFRs include a sam ple o f publicly ow ned and privately
ow ned com panies and also include adjustm ents to re
move capital gains and losses for use in the NIPAs. In
addition to QFRs, BEA uses C om pustat data for som e
utilities, tran sp ortation, inform ation, real estate, and
finance and insurance industries. For the finance and
insurance industries, quarterly indicators com e from
C om pustat for nondeposit credit interm ediaries, secu
rities dealers, life insurance, and real estate investm ent
trusts. The C om pustat database only includes publicly
ow ned com panies and does n o t provide a variable to
distinguish m ark-to-m arket gains and losses included
in earnings. Thus, for quarters w ith substantial
changes in m arket values o f securities, BEA can only
resort to a small sam ple o f quarterly financial reports
filed w ith the Securities and Exchange C om m ission by
individual com panies to adjust for m ark-to-m arket
gains an d losses.20 A ssum ing m ark-to-m arket gains
and losses are procyclical, overadjusting based on the
chosen sam ple w ould yield a quarterly m easure o f
profits th at is n o t cyclical enough, and underadjusting
based o n the chosen sam ple w ould yield a quarterly
m easure o f profits th at is too cyclical.
19. Financial accounting rules for the fair value option for financial assets
and liabilities are provided in SFAS number 159 or ASC topic 825.
20. For more information on corporate profits in the NIPAs, see Hodge
(2011) and Bureau of Economic Analysis (2002).
February 2012
Finance and insurance industries. Given the inclu
sion of m ortgage-backed securities w ith trading secu
rities and given the concentration o f debt and equity
securities purchased and sold for finance-related activ
ities, financial institutions are particularly affected by
m ark-to-m arket accounting. Financial accounting
rules for m ark-to-m arket accounting have been u nder
increasing scrutiny since the m ost recent recession
(fourth quarter o f 2007 to the second quarter o f 2009)
and the related subprim e m ortgage crisis because o f
the volatile im pact th at the rules have on earnings d u r
ing tim es o f m arket volatility. For NIPA purposes, the
rem oval o f m ark-to-m arket gains and losses was p ar
ticularly im p o rtan t b u t challenging in the finance and
insurance industries leading up to and following the
NBER peak in the fourth quarter o f 2007 because o f
the lack o f adequate data on m ark-to-m arket gains and
losses included in earnings reported in financial state
m ents and com piled in the C om pustat database. Thus,
declines in profits in the finance and insurance in d u s
tries m ay reflect m ark-to-m arket losses to the extent
th at the losses were n o t identified. If so, profits in the
finance and insurance industries w ould be u n d er
stated.
C hart 4 presents quarterly estim ates o f corporate
profits w ith inventory valuation adjustm ent (IVA) and
capital consum ption adjustm ent (CCAdj) published in
the NIPAs. Separate series are show n for the finance
and insurance industries and all other industries. In
addition, the chart includes a series th at com bines all
dom estic industries and, for reference to patterns of
potential capital gains and losses, the chart includes a
series for the S&P 500 Index m easured on the right
axis.21
As shown in chart 4, m easured corporate profits
w ith IVA and CCAdj generally dropped consistently
from one quarter to the next for all dom estic industries
leading up to the NBER peak. The series for all dom es
tic industries continued to decline during the reces
sion, b u t the decline was driven prim arily by the
finance and insurance industries, w hich dropped con
siderably m ore th an the nonfinance industries. In ad
dition, in quarters outside o f the recession, corporate
profits in the finance and insurance industries were
generally as high as at least 40 percent o f corporate
profits in nonfinance industries; however, during the
recession, corporate profits in the finance and in su r
ance industries dropped to less than 5 percent o f cor
porate profits in nonfinance industries for some
quarters. The S&P 500 Index increased steadily until
21. The S&P 500 Index series is determined by the monthly average clos
ing value adjusted for dividends and stock splits.
February 2012
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19
C u r r e n t B u s in e s s
the th ird quarter o f 2007 and then decreased steadily
until it reached a low in the fourth quarter o f 2008 and
started an o th er steady increase.
The variation in corporate profits in chart 4 is
highly correlated w ith the variation in potential capital
gains an d losses reflected by the S&P 500 Index. In
2006-2010, the correlations between the S&P 500 In
dex an d corporate profits in the finance and insurance
industries and nonfinance industries are 0.41 and 0.49,
respectively. The correlation w ith all dom estic indus
tries is 0.52 for the full period. For the recessionary pe
riod, the correlations o f the S&P 500 Index w ith
finance and insurance and nonfinance are 0.48 and
0.33, respectively. The correlation w ith all dom estic in
dustries is 0.79 for the recessionary period.
C hart 4 does n o t lead to a conclusion th at corporate
profits include capital gains and losses. However, the
p attern o f corporate profits in the finance and insur
ance industries over the period raises the issue of
w hether m ark-to-m arket gains and losses play a role in
the p attern o f the statistical discrepancy given the rela
tively high corporate profits in the finance and insur
ance industries leading up to the NBER peak and
following the NBER trough and dram atically low cor
porate profits during the recession. In order to sim u
late the change in the statistical discrepancy in the case
o f the inclusion o f capital gains and losses during the
m ost recent recession, 10 percent o f quarterly corpo
rate profits are assum ed to be attributable to m ark-to-
m arket losses. If corporate profits increase by 10 p er
cent for each quarter o f the recession, the statistical
discrepancy w ould im prove for five o f the seven reces
sionary quarters, and the difference betw een the per
cent change in GDP and the percent change in GDI
w ould decline for five o f the seven recessionary q u ar
ters. F urther study is w arranted to better understand
how m ark-to-m arket gains and losses m ay affect cor
porate profits and the statistical discrepancy.
Employee stock options
Inconsistent m easurem ent o f stock options in source
data for corporate profits and com pensation m ay gen
erate an overly cyclical m easure o f GDI relative to GDP.
Differences between the m easurem ent o f stock o p
tions in source data can generate significant differences
between stock options expense included in corporate
profits from stock options included in wages an d sala
ries.22 Financial-based source data for curren t q u ar
terly estim ates and quarterly interpolations o f
corporate profits generally m easure stock options ex
pense as the fair m arket value o f the options allocated
over the vesting period on the date that options are
granted. Tax-based source data for annual estim ates o f
22. The focus here is on nonqualified stock options (NSOs) rather than
incentive stock options (ISOs) because NSOs are more common than ISOs
and because NSOs give rise to ordinary income and losses while ISOs give
rise to capital gains and losses, which are excluded from the NIPA concepts
of corporate profits and compensation (Moylan 2008).
Chart 4. Corporate Profits With Inventory Valuation and Capital Consumption Adjustments, 2006-2010
S&P 500 Index
1,800
B illions of dollars
1,600
All domestic industries
1,200
1,600
1,400
S&P 500
Nonfinance industries
1,000
1,200
1,000
800
800
600
Finance industries
400
600
200
400
0
-200
’N *s /
NBER peak
200
NBER trough
J____ I____ L
2006
0
2007
2008
2009
2010
NBER National Bureau of Economic Research
Notes. Corporate profits are from NIPA table 6.16D. The data are from the 2011 annual NIPA revision. The S&P 500 Index series is determined by the monthly average closing value adjusted for dividends and stock splits.
U.S. Bureau of Economic Analysis
20
Statistical Discrepancy
corporate profits generally m easure this expense as the
difference betw een the m arket price o f the stock and
the strike price o f the options on the date th at the o p
tions are exercised. Source data for wages and salaries
estim ates initially com e from the C urrent Em ploym ent
Statistics (CES) program at the Bureau o f Labor Statis
tics (BLS). The CES data exclude incom e from stock
options. Five m onths after the reference quarter, BEA
incorporates data into wage and salary estimates from
the BLS’s Q uarterly Census o f Em ploym ent and Wages
(QCEW ). T he QCEW includes incom e from stock o p
tions m easured consistently w ith the annual tax-based
source data.
Given the consistent m easurem ent o f stock options
in the annual tax-based source data underlying corpo
rate profits and the QCEW data underlying wages and
salaries estimates, the m easurem ent and tim ing differ
ences should n o t affect the annual statistical discrep
ancy by the second annual revision because QCEW
data and tax-based source data are fully incorporated
into the NIPAs by then. However, the m easurem ent
an d tim ing differences are likely to contribute to the
statistical discrepancy in current quarterly estimates,
and the effect is likely to persist in the quarterly inter
polations after the first annual revision because stock
options are m easured inconsistently in quarterly finan
cial-based source data and in the QCEW. The procycli
cal n ature o f stock prices and the incentive for
employees to exercise stock options w hen stock prices
increase as well as the disincentive w hen stock prices
decrease m ay yield an overly cyclical m easure o f q u ar
terly wages an d salaries. In contrast, quarterly corpo
rate profits as m easured by financial-based source data
w ould be less affected by changes in stock prices b e
cause stock options expenses in quarterly financial
data is m easured w hen stock options are granted and
are distributed evenly over the vesting period. Thus,
GDI m ay be overstated relative to GDP during stock
m arket increases b u t understated during stock m arket
declines. M oylan (2008) provides a com prehensive dis
cussion regarding the inclusion o f stock options in
m easures o f corporate profits and com pensation.
Produced intangibles
Any error in assum ptions regarding the capitalization
rate o f produced intangibles results in inaccurate m ea
sures o f profits and incom e.
In the year th at produced intangibles are acquired,
the seller o f the intangibles recognizes revenue and the
buyer recognizes expense for tax purposes if intangi
bles are n o t capitalized and depreciated. In this case,
revenues offset expenses, and the statistical discrep
February 2012
ancy is unaffected. W hen produced intangibles are
capitalized and depreciated for tax purposes, BEA adds
the depreciation back to tax-based receipts less deduc
tions, w hich is the starting p o in t for profits and in
come, and includes the depreciation in consum ption
o f fixed capital, w hich is BEA’s m easure o f depreciation
included in GDI.
In the case o f purchased com puter software, BEA
assumes a low rate o f capitalization for tax purposes.23
As a result, the depreciation for produced intangibles
th at is added back to tax-based receipts less deductions
includes only a small am o u n t o f depreciation for soft
ware. In the year software is purchased, tax-based re
ceipts less deductions overstates profits and incom e to
the extent th at software is capitalized and n o t depreci
ated for tax purposes beyond BEA’s assum ed rate o f
capitalization (that is, w hen aggregate receipts from
software sales are greater th an aggregate deductions
from software purchases). Thus, the statistical discrep
ancy m ay be affected. In the years th a t software is de
preciated, the statistical discrepancy is unaffected
because the capital consum ption adjustm ent absorbs
the difference betw een the actual depreciation and the
assum ed depreciation. Assum ing software purchases
are procyclical, failure to accurately adjust for capital
ized software w ould yield a m easure o f profits and in
com e th at m ay be too high during cyclical u p tu rn s b u t
less affected during dow nturns.
S u m m ary and C on clusion s
This article explains the significant role that profits
and incom e play in BEA’s decision to record the statis
tical discrepancy as a separate line item on the incom e
side o f the NIPAs and an overview o f the factors o f
profits and incom e that are m ost likely contributing to
the statistical discrepancy.
BEA’s decision to record the statistical discrepancy
w ith GDI reflects BEA’s experience an d careful consid
eration o f the reliability o f the underlying source data.
Source data underlying GDP are generally consistent
w ith econom ic accounting concepts and thus consid
ered m ore reliable than source data underlying GDI. In
contrast, data underlying the profits and incom e com
ponents o f GDI are generally collected from financialand tax-based sources, w hich can be inconsistent w ith
econom ic accounting concepts and thus require ad
justm ents for econom ic accounting purposes. W hile
BEA works to reduce m easurem ent error related to the
23. U.S. tax law allows taxpayers to deduct the cost in the year of acquisi
tion rather than to capitalize and depreciate the cost of qualifying property,
including purchased computer software, subject to deduction limitations
and other restrictions.
February 2012
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source data and required adjustm ents, the w ork is lim
ited by conceptual differences and regulatory reporting
requirem ents underlying the financial- and tax-based
source data.
This article specifically discussed four factors that
require adjustm ents to convert financial- or tax-based
source data into econom ic accounting m easures of
profits and incom e. First, adjustm ents for m isreport
ing are likely factors contributing to the statistical dis
crepancy, and the direction o f the effect is am biguous
w ith o u t fu rth er study. Second, capital gains and losses
m ay be leaking into m easures o f profits and incom e
an d co n tributing to the statistical discrepancy through
corporate p artn er adjustm ents and m ark-to-m arket
accounting practices, which could yield overly cyclical
m easures o f profits and incom e. M easurem ent o f prof
its in the finance and insurance industries was p articu
larly challenging during the m ost recent recession.
Third, inconsistent m easurem ent o f stock options in
source data for corporate profits and wages and sala
ries m ay generate an overly cyclical m easure o f GDI
relative to GDP. Finally, any error in assum ptions re
garding the capitalization rate of purchased software
m ay overstate profits and incom e during cyclical u p
turns.
These issues lend su p p o rt to BEA’s practices of not
p ro m oting one o u tp u t m easure over anoth er and o f
recording the statistical discrepancy in a transparent
m an n er on the incom e side o f the NIPAs. However,
m ore attention should be given to describing the GDI
estim ates in a m anner th at will inform the public
about this alternative source o f m acroeconom ic infor
m ation. F urtherm ore, additional research is w arranted
on factors co n tributing to the statistical discrepancy,
on a fram ew ork for weighting underlying source data
in an effort to distribute the statistical discrepancy, and
on a fram ew ork and appropriate weights for a com
b ined o u tp u t measure.
R eferences
Bureau o f Econom ic Analysis. 2002. Corporate Profits:
Profits Before Tax, Profits Tax Liability, and Dividends.
M ethodology Paper. W ashington, DC: Bureau o f Eco
nom ic Analysis, Septem ber; www.bea.gov/scb/pdf/
national/n ip a/m ethpap/m ethpap2 .pdf.
Byron, Ray P. 1978. “The Estim ation o f Large Social
A ccount M atrices.” Journal o f the Royal Statistical Soci
ety, Series A 141, p art 3 (M arch): 359-367.
Chen, Baoline. 2006. “A Balanced System o f Indus
try Accounts for the U.S. and S tructural D istribution
o f Statistical Discrepancy.” BEA W orking Paper
W P2006-8. W ashington, DC: Bureau o f Econom ic
Analysis; www.bea.gov.
Chen, Baoline. 2010. “Reconciling the System o f
21
U.S. Accounts and D istribution o f the Aggregate Statis
tical Discrepancy.” U npublished. W ashington, DC: Bu
reau o f Econom ic Analysis.
European C om m ission, International M onetary
Fund, O rganisation for Econom ic C o-operation and
Developm ent, U nited Nations, and W orld Bank. 2009.
System o f National Accounts 2008. New York: U nited
Nations.
Financial Accounting Foundation, Financial Ac
counting Standards Board. Statem ent o f Financial Ac
counting Standards. N um bers 115 (May 1993), 133
(June 1998), 157 (Septem ber 2006), and 159 (February
2007).
Financial A ccounting F oundation, Financial Ac
counting Standards Board. Accounting Standards Codi
fication. Topics 320, 815, 820, and 825.
Fixler, D ennis J., and Bruce T. G rim m . 2002. “Reli
ability o f GDP and Related NIPA Estimates.” S u r v e y o f
C u r r e n t B u s i n e s s 81 (January): 9-27.
Fixler, D ennis J., and Bruce T. G rim m . 2005. “Reli
ability o f the NIPA Estimates o f U.S. Econom ic Activ
ity.” S u r v e y o f C u r r e n t B u s i n e s s 85 (February): 8-19.
Fixler, D ennis J., and Jeremy J. Nalewaik. 2009.
“News, Noise, and Estimates o f the “True” Unobserved
State o f the Economy.” BEA W orking Paper W P 201004. W ashington, DC: Bureau o f Econom ic Analysis;
www.bea.gov.
Fixler, D ennis J., Ryan Greenaway-McGrevy, and
Bruce T. G rim m . 2011. “Revisions to GDP, GDI, and
Their M ajor C om ponents.” S u r v e y o f C u r r e n t B u s i n e s s
91 (July): 9-31.
Greenaway-McGrevy, Ryan. 2011. “Is GDP or GDI a
Better M easure o f O utput? A Statistical Approach.”
BEA W orking Paper W P 2011-08. W ashington, DC:
Bureau o f Econom ic Analysis; www.bea.gov.
G rim m , Bruce T. 2007. “The Statistical D iscrep
ancy.” BEA W orking Paper W P2007-01. W ashington,
DC: Bureau o f Econom ic Analysis; www.bea.gov.
G rim m , Bruce T., and R obert P. Parker. 1998. “Reli
ability o f the Q uarterly and A nnual Estimates o f GDP
and Gross D om estic Income.” S u r v e y o f C u r r e n t B u s i
n e s s 78 (Decem ber): 12-21.
G rim m , Bruce T., and Teresa L. Weadock. 2006.
“Gross D om estic Product: Revisions and Source Data.”
S u r v e y o f C u r r e n t B u s i n e s s 86 (February): 11-15.
H oldren, Alyssa E., and Bruce T. G rim m . 2008.
“Gross D om estic Income: Revisions and Source Data.”
S u r v e y o f C u r r e n t B u s i n e s s 88 (Decem ber): 14-20.
Hodge, A ndrew W. 2011. “C om paring NIPA Profits
W ith S&P 500 Profits.” S u r v e y o f C u r r e n t B u s i n e s s 91
(M arch): 22-27.
Internal Revenue Service, U.S. D epartm en t o f the
Treasury. Code o f Federal Regulations, Title 26.
“C hapter I, Subchapter A, Part 1, sections 446, 475,
22
Statistical Discrepancy
and 1221.” W ashington, DC: Internal Revenue Service.
Klein, Lawrence R., and J. Junichi M akino. 2000.
“Econom ic Interpretations o f the Statistical D iscrep
ancy.” Journal o f Economic and Social M easurement 26
(January), no. 1, 11-29.
Landefeld, J. Steven. 2010. “C om m ents on ‘The In
com e- an d Expenditure-Side Estimates o f U.S. O u tp u t
Growth.” Brookings Papers on Economic Activity 1
(Spring): 112-123.
M ankiw, N. Gregory, and M atthew D. Shapiro.
1986. “News or Noise: An Analysis o f GNP Revisions.”
S u r v e y o f C u r r e n t B u s i n e s s 66 (May): 20-25.
M oylan, Carol E. 2008. “Employee Stock O ptions
and the N ational Econom ic Accounts ” S u r v e y o f C u r
r e n t B u s i n e s s 88 (February): 7-13.
Nalewaik, Jeremy J. 2010. “The Incom e- and Expen
diture-Side Estimates o f U.S. O u tp u t G row th ” Brook
ings Papers on Economic Activity 1 (Spring): 71-106.
Rassier, Dylan G., Thom as F. Howells III, Edward T.
February 2012
M organ, Nicholas R. Empey, and C onrad E. Roesch.
2007. “Im plem enting a Reconciliation and Balancing
M odel in the U.S. Industry Accounts.” BEA W orking
Paper W P2007-05. W ashington, DC: Bureau o f Eco
nom ic Analysis; www.bea.gov.
Smith, Richard J., M artin R. Weale, and Steven E.
Satchell. 1998. “M easurem ent E rror w ith Accounting
C onstraints: Point and Interval Estim ation for Latent
D ata w ith an A pplication to U.K. Gross Dom estic
Product.” The Review o f Economic Studies 65, no. 1
(January): 109-134.
Stone, Richard, James E. Meade, and David G.
C ham pernow ne. 1942. “The Precision o f N ational In
com e Estimates.” The Review o f Economic Studies 9, no.
2 (Sum m er): 111-125.
Weale, M artin. 1992. “E stim ation o f D ata M easured
w ith E rror and Subject to Linear Restrictions.” Journal
o f Applied Econometrics 7, no. 2 (A pril-June): 167-174.
February 2012
D-1
BEA Current and Historical Data
A selection of estimates from the national, industry, international, and regional accounts of the Bureau of Economic
Analysis (BEA) are presented in this section. BEA’s estimates are not copyrighted and may be reprinted without BEA’s
permission. Citing the S u r v e y o f C u r r e n t B u s i n e s s and BEA as the source is appreciated.
More detailed estimates from BEA’s accounts are available on BEA’s Web site at www.bea.gov. These estimates are
available in a variety of formats. In addition, news releases, articles, and other inform ation, including methodologies
and working papers, are available.
The tables present annual [A], quarterly [Q], and m onthly [M] data.
N ational Data
A. Selected NIPA tables [A,Q]
1. Domestic product and incom e..............................D-2
2. Personal income and outlays.................................D-20
3. Government current receipts and expenditures ...D -25
4. Foreign transactions...............................................D-36
5. Saving and investment...........................................D-40
6. Income and employment by industry.................. D-47
7. Supplemental tables................................................D-48
G. Investment tables [A]
G. 1 U.S. international investment position............. D-70
G.2 USDIA: Selected item s........................................D-71
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies............................D-72
G.4 FDIUS: Selected items.........................................D-73
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies.......................D-74
H. Charts
B. NIPA-related table
The United States in the international economy..... D-75
B.l Personal income and its disposition [A, M ]...... D-52
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............. D-53
D. Charts
Selected NIPA series................................................... D-57
Industry Data
R egio nal Data
I. State and regional tables
1.1 Personal income [Q ]............................................. D-76
1.2 Personal income and per capita
personal income [A]..........................................D-77
1.3 Disposable personal income and per capita
disposable personal income [A]...................... D-78
1.4 Gross domestic product by state [A]................... D-79
E. Industry table
E.l Value added by industry [A]................................D-63
Intern atio nal Data
F. Transactions tables
F.l U.S. international transactions in goods
and services [A, M ] ...........................................D-64
F.2 U.S. international transactions [A, Q ]................ D-65
F.3 U.S. international transactions by area [Q]........ D-66
F.4 Private services transactions [A]..........................D-69
J. Local area tables
J. 1 Personal income and per capita personal income
by metropolitan area [A ]..................................D—80
J.2 Gross domestic product by metropolitan area
for industries [A]............................................... D-85
K. Charts
Selected regional estimates.........................................D-89
A p p en d ixes
A. Additional information about the NIPA estimates
Statistical conventions................................................ D-91
Reconciliation table [A, Q ]........................................D-92
B. Suggested reading............................................... D-93
D-2
February 2012
N ational Data
A. S elected NIPA Tables
The selected set o f NIPA tables presents the m ost recent estim ates o f gross dom estic pro d u ct (GDP) and its
com ponents, w hich were released on January 27, 2012. These estim ates include the advance estimates for the
fo u rth qu arter o f 2011 and the initial annual estim ates for 2011.
The selected set presents quarterly estimates th at are updated m onthly. A nnual estim ates are presented in
m ost o f the tables. Estimates for all NIPA series for 1929 forw ard are on BEA’s Web site at www.bea.gov.
The GDP news release is available on BEA’s Web site w ithin m inutes after the release. To receive an e-m ail n o
tification o f the release, go to www.bea.gov and subscribe. The “Selected NIPA Tables” are available later th at
day.
1. Domestic Product and Income
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change
in Real Gross Domestic Product
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
Net exports of goods and services
Exports............................................
Goods..........................................
Services.....................................
Im ports............................................
Goods..........................................
Services.....................................
Government consumption
expenditures and gross
investment.....................................
Federal............................................
National defense........................
Nondefense................................
State and local................................
Addendum:
Gross domestic product, current
dollars..........................................
Line
2011
IV
Gross domestic product........
Personal consumption
expenditures.................................
Goods..............................................
Durable goods............................
Nondurable goods.....................
S ervices..........................................
Gross private domestic
investment.....................................
Fixed investment.............................
Nonresidential...........................
Structures...............................
Equipment and software.......
Residential..................................
Seasonally adjusted at annual rates
I
II
III
1
3.0
1.7
2.3
0.4
1.3
1.8
2.8
2
2.2
3.8
0.7
8.1
3.6
8.3
17.2
4.3
1.3
2.1
4.7
11.7
1 .6
0 .8
0 .2
1.7
1.4
5.7
-0.5
1.9
2.0
5.7
14.8
1.7
6
2.0
4.3
7.2
2.9
0.9
7
17.9
4.7
3.8
8
2 .6
9
4.4
-15.8
14.6
-4.3
6 .6
8 .6
-7.1
7.5
8.7
10.5
6.4
9.2
10.3
1.3
13.0
15.7
14.4
16.2
1.3
20.0
3.3
1.7
-7.2
5.2
10.9
3
4
5
10
11
12
13
14
15
16
17
18
19
20
11.3
14.4
5.0
12.5
14.8
2.9
0.7
4.5
3.3
7.1
21
22
23
24
25
26
-
1.7
1.4
4.1
10.3
-1.4
6 .8
7.5
5.1
5.0
5.8
1.1
8 .1
2.5
1 .2
2 .1
-14.3
8.7
-2.4
7.8
9.2
4.7
-2.3
-0.5
-10.4
1 .8
-2.1
- 2 .0
-2.4
- 1 .2
-2.3
-2.8
-3.0
-5.9
3.1
-2.7
4.2
3.9
4.2
7.9
1 0 .6
1.9
2 2 .6
6 .2
4.2
3.6
2.5
1.7
8.3
9.5
6 .2
2 .2
0.4
-5.9
-9.4
-
- 1 .6
-5.3
4.7
5.0
4.0
1.4
1 .2
1 .6
0.5
4.8
-0.1
0 .2
4.7
5.0
3.9
4.4
4.1
5.6
-2.7
-3.4
-0.9
1.9
7.0
-7.6
- 2 .8
5.0
-3.8
- 1 .6
-4.6
-7.3
-12.5
4.2
- 2 .6
3.1
4.0
4.4
3.2
1 2 .6
2010
2011
2.1
2010
IV
IV
Percent change at annual rate:
Gross domestic product........
Percentage points at annual rates:
Personal consumption
expenditures.................................
Goods..............................................
Durable goods...........................
Nondurable goods.....................
Services...........................................
Gross private domestic
investment.....................................
Fixed investment............................
Nonresidential............................
Structures...............................
Equipment and software.......
Residential..................................
Change in private inventories.......
Net exports of goods and services
Exports............................................
Goods..........................................
Services......................................
Imports.............................................
Goods..........................................
Services......................................
Government consumption
expenditures and gross
investment.....................................
Federal.............................................
National defense........................
Nondefense................................
State and local................................
2011
I
II
III
IV
1
3.0
1.7
2.3
0.4
1.3
1.8
2.8
2
1.44
0.99
0.53
0.46
0.46
1.53
0.87
0.60
0.28
2.48
1.87
1.47
1 .2 0
0.85
0.25
0.36
0.49
-0.38
-0.42
0.04
0.87
1.24
0.33
0.42
-0.09
0.90
1.45
1.34
1.07
0.27
1.96
0.32
0.42
-0.51
0.93
- 0 .1 1
1.64
-0.51
1.31
0.58
0.79
0.82
0.17
1.52
1.49
0.37
2.35
0.41
0.18
0.94
0.07
-1.35
-1.29
-0.06
0.79
1.07
0.98
0.54
0.44
0.09
-0.28
0.24
0.48
0.24
0.24
-0.24
-0.23
- 0 .0 1
0.03
-1.35
0.43
0.64
0.48
0.16
- 0 .2 1
-0.08
-0.13
-1.23
-0.82
-0.74
-0.08
-0.41
-0.18
0.16
0.37
- 0 .2 2
-0.34
-0.02
0.17
0.27
- 0 .1 0
-0.19
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
0 .6 6
0.67
0.61
-0.91
0 .8 8
0.19
-1.82
-1.74
-0.08
-0.82
-0.79
-0.03
0.82
0.26
0.56
0.06
-1.79
1.37
0.98
0.79
0.18
0.39
0.08
0.31
0.14
0.37
0.18
0.19
-0.23
-0.45
-0.17
-0.13
-0.03
-0.28
-0.58
-0.26
-0.34
0.09
-0.33
1 .1 2
0 .1 1
0.71
-0.03
- 0 .2 0
0.05
0 .8 8
0 .6 8
0 .2 0
1 .1 0
0.47
0.15
0 .2 0
-0.40
0.60
-0.06
0.32
-0.34
1 .0 1
1 .1 2
0 .1 0
- 0 .2 1
0.39
0.23
1.94
-0.11
0.64
0.48
0.16
-0.75
-0.60
-0.15
-0.93
-0.62
-0.73
0 .1 1
-0.32
February 2012
Survey
of
D-3
C u r r e n t B u s in e s s
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2010
2010
IV
Gross domestic product
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
S ervices.................................
Gross private domestic
investment.............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment and software
Residential.........................
Change in private inventories
Net exports of goods and
services.................................
Exports...................................
G oods.................................
S ervices.............................
Im ports...................................
G oods.................................
Services.............................
Government consumption
expenditures and gross
investment.............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
1
103.684 105.470
Seasonally adjusted
Line
2011
I
104.699 104.792
II
III
104.741 107.015 105.962 106.511 106.693 107.156 107.699
3 105.006 108.944 107.452 108.700 108.272 108.646 110.157
4 105.782 114.345 110.600 113.710 112.180 113.747 117.746
5 104.501 106.328 105.839 106.249 106.306 106.160 106.596
6 104.628 106.087 105.250 105.453 105.941
106.449 106.506
/
82.642 79.848
82.822 79.812
106.314 101.822
91.497 90.399
112.909 106.925
42.091
41.684
80.600 81.869
80.052 81.829
102.342 104.889
86.974 91.511
109.174 110.839
41.428 41.855
82.135
84.362
108.782
94.631
115.077
41.991
85.964
85.046
109.244
92.874
116.546
43.090
127.444 136.112 131.551
128.564 138.256 132.984
125.030 131.392 128.433
102.821 107.934 105.091
101.248 107.118 104.065
111.742 112.937 111.185
134.061 135.240
136.363 137.206
128.977 130.926
107.207 107.573
106.464 106.875
111.798 111.918
136.789
138.874
132.204
107.897
107.020
113.243
138.358
140.579
133.463
109.058
108.113
114.788
107.886 105.577 107.691 106.076 105.837 105.812
122.782 120.363 123.197 120.195 120.769 121.385
23 121.942 119.076 121.846 117.822 119.841 121.311
24 124.508 123.004 125.985 125.111 122.665 121.494
25 99.557 97.308 99.020 98.177 97.488
97.107
104.582
119.101
117.332
122.745
96.461
9
10
11
12
78.945
77.667
97.913
87.883
102.393
42.681
13
14
15
16
17
18
19
20
2011
IV
105.140 105.614 106.334
2
8
2010
21
22
2010
2011
IV
Gross domestic product
Personal consumption
expenditures........................
Goods.....................................
Durable g oods...................
Nondurable g oods............
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.......................
1
2 111.112 113.815
3 104.837 108.750
4 91.348 90.437
5 112.748 119.569
6 114.465 116.493
/ 104.743
104.843
9 105.373
1 0 121.117
99.634
11
1 2 102.214
n
8
14
15
16
17
18
19
20
I
110.617
109.690
112.669
113.032
112.607
114.560
111.673
105.367
90.507
114.092
115.037
III
IV
113.811
113.935
114.324
109.530
90.628
120.707
116.852
114.524
109.304
90.015
120.723
117.286
II
111.000 113.307 111.699 112.390 113.091
112.747
107.412
90.362
117.463
115.574
113.666
108.752
90.745
119.383
116.260
106.432 105.199 105.755 106.342 106.646 106.983
106.161 105.035 105.412 106.039 106.433 106.759
106.734 105.536 105.909 106.560 107.027 107.442
126.597 122.475 123.982 125.835 127.565 129.008
99.745 99.406 99.446 99.743 99.838 99.953
103.367 102.563 102.958 103.479 103.551 103.482
117.546 112.757
117.734 112.396
116.969 113.494
121.774 114.271
122.373 113.780
118.013 116.066
115.725
115.859
115.282
119.370
119.647
117.261
118.182
118.572
117.125
122.949
123.632
118.754
118.747
118.981
118.058
122.543
123.168
118.640
117.529
117.525
117.413
122.236
123.047
117.396
118.341
114.331
114.802
113.380
120.757
119.910
115.827
116.576
114.333
122.372
121.146
116.902
117.672
115.367
123.721
121.523
117.413
118.119
116.011
123.997
121.794
117.372
118.005
116.115
124.494
117.445 121.093
113.653 116.878
23 114.046 117.593
24 112.860 115.456
25 119.704 123.646
21
22
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product
Personal consumption
expenditures........................
G oods.....................................
Durable goods...................
Nondurable goods............
S ervices.................................
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............................
Im ports...................................
Goods.................................
S ervices............................
Government consumption
expenditures and gross
investment............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
Line
2011
I
II
14,526.5 15,087.7 14,755.0 14,867.8 15,012.8 15,176.1 15,294.3
2
10,245.5 10,722.6 10,417.1 10,571.7 10,676.0 10,784.5 10,858.1
3,387.0 3,645.2 3,483.4 3,592.2 3,622.7 3,661.2 3,704.5
1,085.5 1,161.9 1,124.7 1,154.5 1,143.8 1,158.3 1,190.9
2,301.5 2,483.3 2,358.7 2,437.8 2,478.9 2,503.0 2,513.6
6,858.5 7,077.4 6,933.7 6,979.4 7,053.3 7,123.2 7,153.6
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2011
1,999.7
1,927.1
1,581.5
421.7
1,159.9
345.6
72.6
1,795.1
1,728.2
1,390.1
374.4
1,015.7
338.1
66.9
1,913.6
1,866.4
1,529.2
407.8
1,121.4
337.2
47.2
1,818.0
1,779.3
1,447.9
389.6
1,058.3
331.3
38.7
1,853.1
1,791.1
1,460.5
379.5
1,081.0
330.6
62.0
1,895.3
1,841.7
1,506.0
405.2
1 , 1 0 0 .8
335.7
53.6
1,906.6
1,905.8
1,568.7
424.8
1,143.9
337.0
-516.9
1,839.8
1,277.8
562.0
2,356.7
1,947.3
409.4
-578.2
2,087.6
1,474.4
613.2
2,665.8
2,239.5
426.2
-500.2
1,935.3
1,353.8
581.5
2,435.5
2 ,0 2 2 .8
412.7
-571.3
2,024.1
1,431.0
593.2
2,595.4
2,176.2
419.3
-597.1
2,085.3
1,473.5
611.7
2,682.4
2,257.3
425.1
-562.3
2,119.2
1,496.6
622.6
2,681.6
2,251.9
429.7
1,496.4
625.1
2,703.6
2,272.7
431.0
3,002.8
1 ,2 2 2 .8
819.2
403.6
1,780.0
3,029.7
1,232.7
824.8
407.9
1,797.0
3,020.2
1,234.3
823.9
410.3
1,786.0
3,014.4
1,219.9
809.0
410.9
1,794.4
3,038.6
1,237.1
830.6
406.5
1,801.5
3,047.3
1,248.9
844.0
404.9
1,798.5
3,018.6
1,225.0
815.6
409.4
1,793.7
0 .8
-582.1
2 , 1 2 1 .6
2010
IV
IV
III
1
3
4
5
2010
Gross domestic product
Personal consumption
expenditures........................
G oods.....................................
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......................................
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
2011
I
II
III
IV
13,088.0 13,313.4 13,216.1 13,227.9 13,271.8 13,331.6 13,422.4
9,220.9
3,230.7
1,188.3
2,041.3
5,991.8
9,421.1
3,351.9
1,284.5
2,077.0
6,075.4
9,328.4
3,306.0
1,242.4
2,067.4
6,027.5
9,376.7
3,344.4
1,277.4
2,075.4
6,039.1
9,392.7
3,331.2
1,260.2
2,076.6
6,067.0
9,433.5
3,342.7
1,277.8
2,073.7
6,096.1
9,481.3
3,389.2
1,322.7
2,082.2
6,099.4
1,714.9
1,648.4
1,319.2
309.1
1,019.4
330.8
58.8
1,795.2
1,757.8
1,432.4
321.8
1,124.1
326.2
35.6
1,734.5
1,693.9
1,371.9
318.0
1,064.5
323.1
38.3
1,750.9
1,699.0
1,378.9
305.9
1,086.9
321.1
49.1
1,778.4
1,736.7
1,413.2
321.9
1,103.5
324.4
39.1
1,784.2
1,790.4
1,465.6
332.9
1,145.7
325.4
- 2 .0
1,867.4
1,805.0
1,471.9
326.7
1,160.3
333.9
56.0
-421.8
1,663.2
1,164.9
498.8
2,085.0
1,729.3
357.4
-412.3
1,776.3
1,252.7
524.2
2,188.7
1,829.6
361.2
-414.2
1,716.8
1,204.9
512.4
2,131.0
1,777.4
355.6
-424.4
1,749.6
1,235.6
514.6
2,173.9
1,818.4
357.5
-416.4
1,765.0
1,243.2
522.4
2,181.4
1,825.4
357.9
-402.8
1,785.2
1,258.3
527.5
2,187.9
1,827.9
362.2
-405.8
1,805.6
1,273.8
532.5
2,211.5
1,846.5
367.1
2,556.8
1,075.9
718.3
357.7
1,487.0
8.5
2,502.0
1,054.7
701.4
353.3
1,453.4
-25.4
2,552.1
1,079.6
717.7
361.9
1,478.9
-7.9
2,513.9
1,053.3
694.0
359.4
1,466.4
- 2 1 .1
2,508.2
1,058.3
705.9
352.4
1,456.1
-17.6
2,507.6
1,063.7
714.6
349.0
1,450.4
-27.7
2,478.5
1,043.7
691.1
352.6
1,440.7
-35.9
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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.
February 2012
National Data
D-4
Table 1.1.7. Percent Change From Preceding Period
in Prices for Gross Domestic Product
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product
Personal consumption
expenditures........................
G oods.....................................
Durable goods...................
Nondurable goods............
S ervices.................................
Gross private domestic
investment............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment and software
Residential.........................
Change in private inventories
Net exports of goods and
Exports...................................
Goods.................................
S ervices............................
Im ports...................................
Goods.................................
S ervices............................
Government consumption
expenditures and gross
investment.............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
Addenda:
Implicit price deflators:
Gross domestic p ro d u ct 1
Gross national p ro d u ct 1
1
2
3
4
5
6
7
8
9
10
11
12
I
1.2
2.1
1.9
1.8
2.4
3.7
- 1 .0
1.9
3.4
-2.4
6 .0
1 .8
6 .2
1 .2
1.6
1.3
1.3
4.5
1.7
1 .6
-1.7
3.2
1.9
-1.6
-1.4
- 1 .6
- 1.1
- 1 .8
-0.4
0.1
1.1
Line
2011
II
2.6
0.4
3.9
3.3
5.1
1.7
6.7
2.4
2.3
2.9
-0.5
4.5
0.7
- 0 .8
-2.7
2.1
1.5
2.2
2.4
2.5
1.1
1.5
1.3
1 .8
1 .2
1 .6
6 .1
1 .2
2 .0
5.6
0.4
0.3
4.6
0.5
-0.3
2.1
1.4
1.4
5.0
0.4
3.6
- 0 .8
2.5
0 .2
1.5
0 .1
13
14
15
16
17
18
19
4.4
4.9
3.2
6.1
6 .8
20
2.7
21
22
2.2
2.4
2.4
2.4
23
24
25
2.1
26
1.1
27
28
1 .2
1.1
6.3
7.3
3.8
7.7
8.7
3.0
1.9
1.4
3.2
-1.3
-1.5
-0.4
-4.0
-4.8
- 2 .2
- 1 .0
-0.4
^ 1.1
1.3
0.9
1 .8
- 0 .1
-0.4
0.4
8 .6
1 1 .0
8 .8
11.5
12.9
6.5
19.1
22.3
4.2
9.7
6.5
12.5
14.0
5.2
3.8
5.4
5.3
6.3
3.4
5.5
4.2
3.8
3.8
3.7
4.5
1.5
2.3
0.9
1.9
2.5
2.5
2 .6
1 .8
1 .8
2.7
2.7
2 .6
2 .6
2 .6
2 .6
2 .2
8.4
8.9
5.8
3.1
3.1
2 .8
2 .0
3.1
2.3
3.3
2.5
1.1
2.1
2010
IV
2.5
8 .0
2011
IV
2.5
- 0 .6
12.4
1.9
0 .8
III
2010
1 .6
0.4
Percent change at annual
rate:
Gross domestic product
Percentage points at annual
rates:
Personal consumption
expenditures........................
G oods.....................................
Durable g oods...................
Nondurable g oods............
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.......................
2011
I
III
II
IV
1
1.2
2.1
1.9
2.5
2.5
2.6
0.4
2
1.25
0.36
-0.13
0.49
0.89
1.72
0.89
-0.07
0.96
0.84
1.37
0.79
-0.18
0.97
0.59
2.73
1.85
-0.05
1.89
2.33
0.50
- 0 .2 0
- 0 .2 1
0 .8 8
1 .1 2
1.66
0.70
-0.04
0.73
0.96
-0.18
-0.17
-0.16
-0.03
- 0 .1 2
- 0 .0 1
- 0 .0 1
0.19
0.15
0.13
0.20
0.09
0.04
0 .1 2
0 .0 1
0 .0 2
0.26
0.17
0.14
0.13
-0.06
0.05
0.15
0.19
0.18
0.15
0.03
0.16
0.15
0.16
0.13
0.03
0 .0 1
- 0 .0 1
0.04
0 .1 1
0.03
0.09
0.28
0.29
0.25
0.16
0.09
0.05
- 0 .0 1
-0.04
0 .0 1
-0.38
0.52
0.40
-0.47
0.82
0.67
0.15
-1.29
- 1 .2 0
-0.09
-0.26
1.07
0.98
0.09
-1.33
-1.17
-0.16
-1.57
1.40
1.15
0.25
-2.97
-2.85
- 0 .1 2
-0.93
1.16
0.91
0.26
-2.09
-1.95
-0.14
0.51
0.27
0.14
0.13
0.24
0.23
-0.40
-0.57
-0.48
-0.09
0.18
0.06
0 .0 1
0 .1 2
0.63
0.23
0.17
0.06
0.40
0.63
0.17
0.14
0.03
0.46
1.08
0.43
0.34
0.09
0.65
0.84
0.31
0 .2 1
0 .1 0
0.25
0.15
0.09
0.06
0.18
- 0 .0 1
- 0 .0 2
0.53
0 .1 1
0.19
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
0 .1 2
-0.90
-0.82
-0.08
21
22
0.46
23
24
25
0.13
0.07
0.26
0 .2 0
0 .1 0
0 .0 1
1 .2 1
0.13
1.07
0 .0 1
0.70
0 .0 1
1. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.1.9.
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2005=100]
[Percent]
Seasonally adjusted
2010
Line
Line
2010
2011
2010
IV
Gross domestic product
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
S ervices.................................
Gross private domestic
investment.............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment and software
Residential.........................
Change in private inventories
Net exports of goods and
Exports...................................
Goods.................................
Services............................
Im ports...................................
Goods.................................
Services.............................
Government consumption
expenditures and gross
investment............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
Addendum:
Gross national product.........
1
I
II
III
IV
111.112 113.815
3 104.836 108.749
4 91.347 90.452
5 112.748 119.564
6 114.465 116.493
111.670
105.365
90.527
114.086
115.035
112.744
107.410
90.381
117.457
115.571
113.663
108.750
90.765
119.377
116.257
114.321
109.528
90.647
120.701
116.849
114.521
109.302
90.034
120.717
117.284
106.597
106.180
106.757
126.707
99.759
103.375
104.811
105.042
105.544
122.534
99.415
102.568
105.838
105.420
105.917
124.041
99.455
102.963
106.569
106.046
106.567
125.895
99.753
103.484
106.858
106.441
107.035
127.626
99.847
103.556
107.085
106.767
107.449
129.070
99.963
103.487
7 104.678
8 104.843
9 105.373
1 0 121.117
11
99.634
1 2 102.214
13
14
15
16
17
18
19
20
110.617
109.690
112.669
113.032
112.607
114.559
117.445
113.653
23 114.046
24 112.860
25 119.704
21
22
26 110.971
117.520
117.696
116.968
121.798
122.408
118.012
121.090
116.875
117.594
115.446
123.643
112.726
112.354
113.481
114.289
113.807
116.068
115.693
115.816
115.269
119.389
119.676
117.261
118.149
118.527
117.112
122.969
123.662
118.756
118.714
118.937
118.045
122.562
123.198
118.641
117.496
117.481
117.400
122.255
123.077
117.398
119.910
115.824
116.573
114.329
122.374
121.146
116.898
117.669
115.363
123.723
121.523 121.794
117.410 117.369
118.116 118.002
116.007 116.111
123.999 124.496
111.623 112.379
113.106
113.823
118.340
114.327
114.799
113.376
120.759
Gross domestic product
Personal consumption
expenditures........................
Goods.....................................
Durable g oods...................
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....................................
G oods.................................
Services..............................
Government consumption
expenditures and gross
investment............................
Federal....................................
National defense...............
Nondefense.......................
State and local.......................
2011
2011
I
IV
110.992 113.327 111.644 112.398 113.118 113.836 113.946
2
2010
2011
II
III
IV
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2
70.5
23.3
7.5
15.8
47.2
71.1
24.2
7.7
16.5
46.9
70.6
23.6
7.6
16.0
47.0
71.1
24.2
7.8
16.4
46.9
71.1
24.1
7.6
16.5
47.0
71.1
24.1
7.6
16.5
46.9
71.0
24.2
7.8
16.4
46.8
12.4
11.9
9.6
12.7
12.4
12.3
12.5
13.1
1 2 .0
12.6
12.3
12.6
1 2.1
1 2 .6
1 2 .6
1 0.1
9.8
9.8
1 0 .0
10.3
10.3
2 .6
2.7
7.4
2 .6
2 .6
2 .8
2 .8
7.2
7.3
2.7
7.3
7.5
3
4
5
6
/
8
9
10
11
12
13
7.0
2.3
0.5
2 .2
2 .2
2 .2
2 .2
0.3
0.3
0.4
0.4
2 .2
0 .0
7.6
2.3
0.5
-3.4
13.1
9.2
3.9
16.5
13.7
-3.8
13.6
9.6
4.0
17.5
14.6
-4.0
13.9
9.8
4.1
17.9
15.0
-3.7
14.0
9.9
4.1
17.7
14.8
-3.8
13.9
9.8
4.1
17.7
14.9
14
15
16
17
18
19
-3.6
12.7
3.9
16.2
13.4
-3.8
13.8
9.8
4.1
17.7
14.8
20
2 .8
2 .8
2 .8
2 .8
2 .8
2 .8
2 .8
21
22
20.7
8.4
5.6
20.1
20.5
8.4
5.6
20.3
20.2
20.1
19.7
8 .2
8 .2
8 .2
8 .0
5.4
2 .8
12.1
2 .8
12.1
5.5
2.7
5.6
2.7
11.9
5.3
2.7
11.7
23
24
25
8 .8
2 .8
12.3
8 .2
5.5
2.7
11.9
1 2 .0
February 2012
S urvey
of
D-5
C u r r e n t B u s in e s s
Table 1.1.11. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
[Percent]
2010
2011
Line
IV
Gross domestic product......................................................................................................
Personal consumption expenditures.......................................................................................
G oods.................
Durable goods
Nondurable goods
Services.............
Gross private domestic investment...........................................................................................
Fixed investment.........................................................................................................................
Nonresidential
Structures
Equipment and software
Residential
Change in private inventories.....................................................................................................
Net exports of goods and services...........................................................................................
Exports...
Goods
Services
Imports...
Goods
Services...................................................................................................................................
Government consumption expenditures and gross investment.......................................
Federal..........................................................................................................................................
National defense
Nondefense....
State and local...
Addenda:
Final sales of domestic product................................................................................................
Gross domestic purchases........................................................................................................
Final sales to domestic purchasers...........................................................................................
Gross national product................................................................................................................
Real disposable personal incom e.............................................................................................
Price indexes (Chain-type):
Gross domestic purchases...................................................................................................
Gross domestic purchases excluding food and energy 1 ..................................................
Gross domestic product.........................................................................................................
Gross domestic product excluding food and energy 1 .......................................................
Personal consumption expenditures....................................................................................
Personal consumption expenditures excluding food and energy 1 ..................................
Market-based PCE 2 ..............................................................................................................
Market-based PCE excluding food and energy 2 ................................................................
I
II
III
6
1 .6
7
14.0
7.4
2.2
2.8
5.4
11.3
2.7
1.5
7.4
7.4
1 1 .1
1 0 .0
8 .0
- 1 .8
16.6
-6.3
1.5
13.4
-2.9
4.9
9.2
-6.9
8 .8
8.9
10.5
5.0
10.7
12.7
1.9
0.1
2.9
1.5
5.7
-1.7
10.1
6 .2
7.3
7.7
3.1
3.0
5.8
10.9
3.5
1
2
3
4
5
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
30
31
32
33
34
35
36
37
38
1.6
2.2
4.0
7.8
2.3
1.4
2.9
5.0
2.4
3.6
2.9
3.2
3.5
2 .2
2 .6
1.4
1 .2
1 .6
1 .0
1.1
0.7
1 .2
7.7
6 .6
7.3
2.7
9.0
3.4
5.2
5.7
3.9
3.8
3.9
3.2
-2.9
-3.3
-3.7
- 2 .6
- 2 .6
6.7
4.1
4.7
5.6
2.1
2.7
-0.9
-2.4
- 2 .2
-1.9
- 2 .8
- 2 .6
0 .6
-2.2
- 2 .0
- 1 .8
-2.4
-2.3
1.4
1.5
1.3
2.5
1.9
1.4
1.7
2 .6
2 .6
2 .0
1.1
1.9
1.4
1.5
2 .6
1 .8
2 .1
1 .8
1 .8
1.1
2.5
1.3
2.9
1.7
0.9
2 .6
3.0
1.7
2.7
1.3
1 .6
1 .8
1 .8
1.3
1.3
1.6
1.6
2.5
6.5
0.7
6 .0
6 .2
9.6
11.5
1.4
-1.1
-0.3
- 2 .0
3.1
-1.5
IV
1.5
2.0
3.1
7.0
1.4
1.5
1.0
7.6
9.1
7.3
9.7
1.4
2.3
1 .0
1 .8
1 .8
0.1
- 0 .1
2.9
2.5
2 .0
2 .0
2 .0
2 .0
2 .6
2.4
2.1
1 .6
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
N o t e . Percent changes for real estimates are calculated from corresponding quantity indexes presented in NIPA tables 1.1.3,1.2.3,1.4.3, and 1.7.3. Percent changes in price estimates are calculated from corre
sponding price indexes presented in NIPA tables 1.1.4,1.6.4, and 2.3.4.
Table 1.2.1. Percent Change From Preceding Period in Real
Gross Domestic Product by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2010
2011
2010
IV
Gross domestic product......................................................................................................
Final sales of domestic product.......................................................................................
Change in private inventories............................................................................................
Goods...............................................................................................................................................
Final sales..................
Change in private inventories................................................................................................
Durable goods...............
Final sales..................
Change in private inventories 1
Nondurable goods.........
Final sales..................
Change in private inventories 1 .............................................................................................
Services 2.........................................................................................................................................
Structures........................................................................................................................................
Addenda:
Motor vehicle output....................................................................................................................
Gross domestic product excluding motor vehicle output........................................................
Final sales of computers 3 .........................................................................................................
Gross domestic product excluding final sales of computers.................................................
Gross domestic purchases excluding final sales of computers to domestic purchasers
Final sales of domestic product, current dollars......................................................................
I
II
III
1
2
3.0
1.4
1.7
1.9
2.3
4.2
0.4
1.3
0 .0
3
4
5
11.7
5.1
4.5
5.3
5.9
13.2
7
6 .2
7.3
8
6.7
8 .2
10
11
1?
7.3
3.4
13
14
15
16
1/
18
19
fi
IV
1 .6
1.8
3.2
0 .8
4.9
3.8
-0.6
0.4
2.2
7.3
12.9
5.5
3.0
13.9
1 0 .0
3.0
4.8
12.3
12.5
3.3
6.4
9.1
12.5
- 0 .1
2 .2
-4.3
^f.O
-7.6
2.4
2 .1
24.2
4.6
1.1
-8.8
0.9
-2.0
1.0
1.0
-0.1
-13.1
1.8
5.0
1.2
5.8
-0.9
-1.8
27.4
11.9
1.5
32.8
-17.4
2.9
64.2
1 2 .8
2.1
1.5
4.0
0.7
-4.1
1.5
13.0
1.3
0.7
4.2
5.1
1.7
42.1
1 .6
59.2
-0.7
14.7
0.3
0.7
2.5
5.3
2.8
9
20
2 .6
20.5
2.9
3.2
2 .6
1 .6
6.1
1 .6
1 .2
5.9
2.5
32.1
2 .6
2 .6
1 .2
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are based on the North Amer
ican Industry Classification System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense) produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
February 2012
National Data
D-6
Table 1.2.3. Real Gross Domestic Product by
Major Type of Product, Quantity Indexes
Table 1.2.2. Contributions to Percent Change in Real
Gross Domestic Product by Major Type of Product
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Percent change at annual rate:
Gross domestic product......
Percentage points at annual
rates:
Final sales of domestic
product..............................
Change in private
inventories........................
G oods................................................
Final sales.................................
Change in private inventories
Durable goods...............................
Final sales.................................
Change in private inventories 1
Nondurable goods........................
Final sales.................................
Change in private inventories 1
Services 2..........................................
Structures........................................
Addenda:
Motor vehicle output.....................
Gross domestic product excluding
motor vehicle output................
Final sales of computers 3 ...........
Gross domestic product excluding
final sales of computers...........
1
2
I
II
1.7
2.3
0.4
1.3
1.8
2.8
1.39
1.92
4.14
0.04
1.62
3.16
0.81
- 0 .2 0
1.24
1.44
- 0 .2 0
-1.79
1.63
3.41
-1.79
0.42
1.83
-1.41
0.32
1.36
1.04
0.32
1.37
0.73
0.63
1 .2 0
- 0 .1 0
0.62
-0.14
1.58
-0.38
0.65
0.07
- 0 .0 1
0.30
-0.31
-0.05
-0.95
-0.28
0.43
0.67
-0.23
-0.61
-0.55
-0.05
1.18
0.33
13
14
15
0.49
0.27
-0.43
1.08
16
17
2.54
0 .1 0
1.45
0.17
2.78
0.29
18
2.93
1.56
2.06
6
7
8
9
10
11
12
1 .01
1 .1 2
- 0 .1 0
0.23
0.33
-1.07
0.29
-1.36
0.81
0.38
1.94
3.48
1.53
1.94
0.49
0.91
-0.42
2.98
0.63
2.36
-0.60
-0.12
- 0 .1 0
0 .1 2
0.30
-0.73
0.08
1.44
0.07
1.69
0 .2 2
2.45
0.18
0.27
1.26
1.60
2.58
-0.28
-0.17
0 .1 1
2010
2011
2010
IV
III
3.0
1.64
3.01
1.37
1.64
2.06
0.91
1.15
0.95
0.46
0.49
0.72
-0.69
3
4
5
Line
2011
-1.35
0.62
1.97
-1.35
1.69
1 .6 8
0 .0 1
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
2011
IV
Gross domestic product.......
Final sales of domestic
product...............................
Change in private
G oods................................................
Final sales..................................
Change in private inventories
Durable goods...............................
Final sales..................................
Change in private inventories 1
Nondurable goods........................
Final sales..................................
Change in private inventories 1
Services 2..........................................
Structures..........................................
Addenda:
Motor vehicle output.....................
Gross domestic product
excluding motor vehicle output
Final sales of com puters 3 ...........
Gross domestic product
excluding final sales of
computers..................................
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers.................................
I
II
III
1
103.684 105.470 104.699 104.792 105.140 105.614 106.334
2
103.626 105.638 104.841 104.850 105.275 106.108 106.318
4 114.630 119.771 117.244 118.667 118.481 119.130 122.807
5 114.483 120.597 117.933 119.039 119.156 121.273 122.921
fi
7 114.027 122.343 116.812 119.638 120.538 124.089 125.110
113.588 122.900 118.004 119.551 120.962 124.568 126.517
8
q
10
11
1?
115.326 117.202 117.745 117.727 116.432 114.151 120.495
115.328 118.152 117.752 118.405 117.206 117.827 119.171
13 106.133 107.140 106.696 106.676 107.158 107.488 107.238
14 65.018 63.740 65.029 62.784 63.555 64.457 64.166
15
77.389
86.633
76.651
8 6 .1 0 2
85.215
86.290
18 103.250 104.863 104.168 104.240 104.569 104.986 105.659
19 100.471 101.929 101.311 101.477 101.661 101.965 102.611
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Table 1.2.5. Gross Domestic Product by Major Type of Product
[Index numbers, 2005=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
2010
2011
2010
IV
Gross domestic product.......
Final sales of domestic
product.............................
Change in private
G oods................................................
Final sales.................................
Change in private inventories
Durable goods...............................
Final sales.................................
Change in private inventories 1
Nondurable goods........................
Final sales.................................
Change in private inventories 1
Services 2..........................................
Structures.........................................
Addenda:
Motor vehicle output.....................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3 ...........
Gross domestic product
excluding final sales of
computers..................................
Implicit price deflator for final
sales of domestic product , ,
Line
2011
I
II
III
111.000 113.307 111.699 112.390 113.091 113.811 113.935
2
110.981 113.242 111.647 112.315 113.021 113.754 113.876
'•i
4 100.673 102.178 101.429 101.655 101.888 102.855 102.315
5 100.537 101.878 101.181 101.329 101.574 102.581 102.031
fi
/
94.263
94.248
93.588
93.506
93.807
93.770
93.554
93.471
93.609
93.519
93.654
93.577
93.534
93.459
q
108.430 112.614
108.221 112.094
1?
13 115.100 117.654
14 113.710 117.334
10
11
110.654 111.466 111.921 114.074 112.994
110.213 110.902 111.391 113.592 112.492
115.741 116.629 117.499 118.057 118.430
114.659 115.626 116.886 117.944 118.878
15 100.633 103.302 100.856 101.487 103.120 104.401 104.202
16 111.350 113.648 112.062 112.756 113.431 114.136 114.269
17 46.985 42.545 45.618 44.120 43.301 41.795 40.965
18 111.554 113.954 112.278 113.001 113.722 114.476 114.616
19 110.981 113.241 111.642 112.311 113.017 113.750 113.872
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
2010
2011
IV
1
8
88.925
16 104.505 106.059 105.573 105.377 105.764 106.218 106.878
17 213.841 283.891 251.452 260.231 268.303 292.946 314.085
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
Line
IV
2010
IV
Gross domestic product
Final sales of domestic
product......................
Change in private
inventories...............
G oods.......................................
Final sales.........................
Change in private
inventories....................
Durable g oods......................
Final sales.........................
Change in private
inventories 1..................
Nondurable g oods...............
Final sales.........................
Change in private
inventories 1..................
Services 2 .................................
Structures.................................
Addenda:
Motor vehicle o utp ut............
Gross domestic product
excluding motor vehicle
output.................................
Final sales of computers 3...
Gross domestic product
excluding final sales of
computers.........................
2011
I
II
III
IV
1
14,526.5 15,087.7 14,755.0 14,867.8 15,012.8 15,176.1 15,294.3
2
14,459.6 15,040.5 14,716.3 14,805.8 14,959.2 15,175.3 15,221.7
3
4
5
66.9
4,009.9
3,943.0
47.2
4,256.0
4,208.8
38.7
4,126.1
4,087.4
62.0
4,193.8
4,131.8
53.6
4,199.4
4,145.8
4,262.2
4,261.4
6
66.9
2,051.5
2,006.0
47.2
2,185.9
2,153.6
38.7
2,091.3
2,073.6
62.0
2,136.8
2,094.1
53.6
2,154.1
2,119.9
2,218.7
2,184.5
72.6
2,234.0
2,215.9
45.5
1,958.4
1,937.0
32.3
2,070.1
2,055.2
17.7
2,034.8
2,013.8
42.7
2,057.0
2,037.7
34.2
2,045.3
2,025.9
34.2
2,043.5
2,076.9
18.2
2,134.6
2,080.2
21.4
9,508.6
1,008.0
14.9
9,811.8
1,020.0
2 1 .0
13
14
9,612.1
1,016.8
19.3
9,684.1
989.9
19.4
9,800.4
1,013.0
-33.4
9,877.2
1,036.7
54.4
9,885.4
1,040.2
15
326.2
374.9
323.8
366.1
368.1
377.3
388.1
7
8
9
10
11
12
0 .8
0 .8
72.6
4,368.7
4,296.1
16 14,200.3 14,712.8 14,431.2 14,501.7 14,644.6 14,798.7 14,906.1
17
77.6
93.4
88.9
88.9
90.0
94.9
99.7
18 14,449.0 14,994.4 14,666.1 14,778.9 14,922.8 15,081.2 15,194.6
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
February 2012
Survey
of
D-7
C u r r e n t B u s in e s s
Table 1.2.6. Real Gross Domestic Product by
Major Type of Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Gross domestic product.................................................................................................
Final sales of domestic product...................................................................................
Change in private inventories.......................................................................................
Residual..............................
Goods..............................................
Final sales...............................
Change in private inventories
Durable goods............................
Final sales...............................
Change in private inventories 1
Nondurable goods......................
Final sales...............................
Change in private inventories 1 .........................................................................................
Services 2.....................................................................................................................................
Structures....................................................................................................................................
Addenda:
Motor vehicle output................................................................................................................
Gross domestic product excluding motor vehicle output....................................................
Final sales of computers 3 .....................................................................................................
Gross domestic product excluding final sales of computers.............................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
I
II
III
13,088.0
13,028.9
58.8
0.3
3,984.2
3,921.9
58.8
2,176.8
2,128.4
41.5
1,806.8
1,789.9
18.6
8,261.2
886.5
-38.1
13,313.4
13,281.8
35.6
-4.0
4,162.9
4,131.4
35.6
2,335.6
2,302.9
28.2
1,836.2
1,833.7
9.1
8,339.6
869.0
-69.1
13,216.1
13,181.6
38.3
-3.8
4,075.1
4,040.1
38.3
2,230.0
2 ,2 1 1 . 2
16.4
1,844.7
1,827.5
22.3
8,305.0
886.6
-52.9
13,227.9
13,182.8
49.1
-4.0
4,124.5
4,078.0
49.1
2,283.9
2,240.2
37.4
1,844.4
1,837.6
13.9
8,303.5
856.0
-60.7
13,271.8
13,236.2
39.1
-3.5
4,118.1
4,082.0
39.1
2,301.1
2,266.6
29.8
1,824.2
1,819.0
324.2
12,753.8
165.1
12,953.5
362.9
12,943.5
219.2
13,155.9
321.1
12,884.2
194.1
13,068.7
360.7
12,860.3
200.9
13,077.7
IV
8,341.0
866.5
-62.2
13,331.6
13,340.9
- 2 .0
-7.3
4,140.6
4,154.6
- 2 .0
2,368.9
2,334.2
29.8
1,788.4
1,828.6
-27.2
8,366.7
878.8
-79.3
13,422.4
13,367.4
56.0
- 1 .0
4,268.4
4,211.0
56.0
2,388.4
2,370.7
15.9
1,887.8
1,849.5
38.7
8,347.2
874.8
-74.4
357.0
12,907.5
207.1
13,119.0
361.5
12,962.9
226.1
13,171.3
372.5
13,043.4
242.5
13,255.7
1 1.1
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are based on the North American
Industry Classification System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense) produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 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 is the difference between gross domestic product and the sum of the detailed
lines of goods, of services, and of structures.
Table 1.3.1. Percent Change From Preceding Period
in Real Gross Value Added by Sector
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
I
IV
Gross domestic product..................................................................................................
Business 1 ..................................................................................................................................
Nonfarm 2 .................................................................................................................................
Farm................................
Households and institutions
Households....................
Nonprofit institutions serving households 3 .........................................................................
General governm ent4 ..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
Addendum:
Gross housing value added..................................................................................................
-14.7
0.3
-0.9
1 .0
0 .6
10
3.0
3.9
4.0
-0.5
0.5
- 0 .2
1.3
0.5
3.7
-0.9
- 1 .0
-0.9
-0.1
1.9
- 1.1
11
0.4
- 0 .2
-1.3
1 .6
1
2
3
4
5
6
7
8
9
1.7
2.3
2 .6
1 .8
-0.3
2.3
3.2
3.8
-29.8
-0.1
-1.5
1.7
-0.4
II
0.4
0.3
0.9
-31.8
1.0
0.9
1.1
III
1.3
1.7
IV
1.8
2.7
1 .8
2 .8
-9.7
1.2
- 0 .1
2.7
-0.6
-6.3
-1.2
-4.5
3.0
-0.4
2.8
3.5
3.6
-5.9
0.5
- 0 .2
1.4
0.4
0 .8
0 .2
1 .8
- 1 .2
-0.7
-0.3
1 .0
-3.1
0.5
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
February 2012
National Data
D-8
Table 1.3.3. Real Gross Value Added by Sector, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Gross domestic product..................................................................................................
Business 1 ..
Nonfarm 2.
Farm.........
Households and institutions
Households..............................................................................................................................
Nonprofit institutions serving households 3 ..........................................................................
General governm ent4 ..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
Addendum:
Gross housing value added...................................................................................................
2011
I
II
III
IV
10
103.684
102.519
102.366
114.153
108.245
109.115
107.035
106.364
114.802
102.729
105.470
104.886
104.986
97.352
108.549
108.108
108.991
105.994
115.982
101.687
104.699
103.899
103.809
110.493
108.191
108.523
107.660
106.170
115.095
102.324
104.792
103.986
104.029
100.401
108.449
108.757
107.949
106.137
115.650
102.037
105.140
104.420
104.506
97.879
108.761
108.742
108.670
105.986
115.877
101.721
105.614
105.114
105.233
96.289
108.427
107.501
109.480
105.874
115.936
101.536
106.334
106.026
106.178
94.839
108.560
107.434
109.864
105.978
116.465
101.455
11
112.858
112.647
112.374
112.831
113.119
112.245
112.391
1
2
3
4
5
6
7
8
9
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.4. Price Indexes for Gross Value Added by Sector
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Gross domestic product..................................................................................................
Business 1 ...................................................................................................................................
Nonfarm 2 ..................................................................................................................................
Farm..........................................................................................................................................
Households and institutions
Households..............................................................................................................................
Nonprofit institutions serving households 3 ..........................................................................
General governm ent4 ..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
Addendum:
Gross housing value added...................................................................................................
1
1 1 1 .0 0 0
2
10
109.636
109.617
113.871
112.743
109.584
117.117
118.403
117.048
118.982
11
110.507
3
4
5
6
7
8
9
113.307
112.076
111.677
150.185
114.203
2011
I
II
III
IV
1 2 1 .1 1 1
113.935
112.626
112.247
148.560
115.253
112.167
119.540
121.455
118.627
120.751
119.594
121.229
111.699
110.427
110.249
127.892
112.930
109.864
117.181
119.047
117.596
119.673
112.390
111.147
110.782
145.976
113.357
110.108
117.856
119.833
118.617
120.342
113.091
111.909
111.496
151.431
113.623
110.296
118.229
120.602
119.437
121.085
113.811
112.623
112.184
154.775
114.577
111.475
118.884
120.118
121.507
121.983
112.042
110.791
111.125
111.329
112.452
113.263
1 1 1 .0 1 1
1 2 0 .2 0 1
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.5. Gross Value Added by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
10
14,526.5
10,879.1
10,746.5
132.6
1,838.4
1,033.6
804.8
1,809.1
589.6
1,219.5
15,087.7
11,381.8
11,230.4
151.4
1,867.5
1,037.3
830.1
1,838.5
608.6
1,230.0
14,755.0
11,098.9
10,954.7
144.1
1,840.5
1,030.6
810.0
1,815.6
593.8
1 ,2 2 1 . 8
14,867.8
11,188.9
11,038.0
150.9
1,851.9
1,035.1
816.8
1,827.0
601.9
1,225.2
15,012.8
11,315.1
11,161.4
153.6
1,861.6
1,036.7
824.9
1,836.1
607.2
1,228.9
15,176.1
11,462.7
11,307.4
155.3
1,871.5
1,035.9
835.6
1,841.9
611.0
1,231.0
15,294.3
11,560.5
11,414.7
145.8
1,884.8
1,041.6
843.2
1,849.0
614.2
1,234.8
11
1,314.5
1,330.3
1,312.3
1,321.5
1,327.4
1,330.4
1,341.7
IV
Gross domestic product
Business 1 ..
Nonfarm 2.
Farm.........
Households and institutions
Households..............................................................................................................................
Nonprofit institutions serving households 3 ..........................................................................
General governm ent4 ..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
Addendum:
Gross housing value added...................................................................................................
1
2
3
4
5
6
7
8
9
2011
I
II
III
IV
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
February 2012
S urvey
of
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
Table 1.4.1. Percent Change From Preceding Period
in Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
[Percent]
2011
IV
Gross domestic product
Business 1................................
Nonfarm 2 ..............................
Farm .......................................
Households and institutions
H ouseholds...........................
Nonprofit institutions serving
households 3 ....................
General governm ent4...........
Federal..................................
State and local......................
Residual....................................
Addendum:
Gross housing value added
D-9
C u r r e n t B u s in e s s
II
I
III
Seasonally adjusted at annual rates
IV
13,088.0 13,313.4 13,216.1 13,227.9 13,271.8 13,331.6 13,422.4
9,923.9 10,153.1 10,057.5 10,065.9 10,107.9 10,175.1 10,263.4
3 9,804.7 10,055.7 9,942.8 9,964.0 10,009.6 10,079.2 10,169.8
4
116.5
99.3
112.7
102.4
99.9
98.2
96.8
5 1,630.6 1,635.2 1,629.8 1,633.7 1,638.4 1,633.4 1,635.4
6
943.2
934.5
938.1
940.1
940.0
929.2
928.7
Line
1
2010
2011
2010
7
10
11
687.2
1,527.9
503.7
1,025.0
7.7
699.8
1,522.6
508.9
1,014.6
12
1,189.5
8
9
2 .8
697.7
1,522.5
508.4
1,014.9
1.3
702.9
1,520.9
508.7
1,013.1
0.3
705.4
1,522.3
511.0
1 ,0 1 2 . 2
-1.5
1,189.2
1,192.3
1,183.1
1,184.6
693.1
1,524.6
507.4
1,018.1
0 .6
691.2
1,525.1
505.0
1,020.9
5.4
1,187.3
1,184.4
1. Equals gross domestic product excluding gross value added of households and institutions and of general govern
ment.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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.
2011
IV
2
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.......................................
Addenda:
Final sales of domestic product.....
Gross domestic purchases, current
dollars............................................
Final sales to domestic purchasers,
current dollars...............................
3
4
3.0
11.3
12.5
3.4
6
1 .8
1
2
1.7
I
III
II
IV
0.4
7.9
8.3
0.7
1.3
3.6
1.4
1 .8
2 .8
4.7
1 .2
4.7
4.4
1 .6
2.3
7.8
-2.3
0.9
1 .0
1.3
2 .8
1 .8
2.7
0.4
1.3
2.7
0.9
6 .8
5.0
7
1.4
1.9
4.2
0 .0
1 .6
3.2
0 .8
8
5.0
4.1
2.9
4.9
4.5
3.3
3.6
9
3.3
4.3
4.8
4.3
4.7
4.7
1.7
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
Line
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......................................
Addendum:
Final sales of domestic product
2010
2011
2010
103.684 105.470
127.444 136.112
3 102.821 107.934
4 101.160 102.784
5
1
2
6
Line
2011
IV
I
II
III
IV
104.699
131.551
105.091
102.064
104.792
134.061
107.207
102.237
105.140
135.240
107.573
102.504
105.614
136.789
107.897
102.844
106.334
138.358
109.058
103.550
101.091 102.926 102.182 102.276 102.615 103.292 103.520
7 103.626 105.638 104.841 104.850 105.275 106.108 106.318
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......................................
Addenda:
Final sales of domestic product......
Implicit price deflator for final sales
to domestic purchasers..............
2010
2011
2010
1 1 1 1 . 0 0 0 113.307
2 110.617 117.546
3 113.032 121.774
4 111.438 114.186
‘i
6
2011
IV
I
II
III
IV
111.699
112.757
114.271
112.048
112.390
115.725
119.370
113.147
113.091
118.182
122.949
114.081
113.811
118.747
122.543
114.642
113.935
117.529
122.236
114.873
111.426 114.132 112.006 113.084 114.024 114.597 114.826
7 110.981 113.242 111.647 112.315 113.021 113.754 113.876
8
111.426 114.132 112.003 113.080 114.021 114.593 114.822
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
IV
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.........
Addendum:
Final sales of domestic
product...............................
1
Seasonally adjusted at annual rates
Line
2011
2010
I
II
III
14,526.5 15,087.7 14,755.0 14,867.8 15,012.8 15,176.1 15,294.3
2
1,839.8
2,087.6
1,935.3
2,024.1
2,085.3
2,119.2
2 , 1 2 1 .6
3
2,356.7
2,665.8
2,435.5
2,595.4
2,682.4
2,681.6
2,703.6
4 15,043.4 15,665.9 15,255.2 15,439.1 15,609.9 15,738.4 15,876.3
5
6
66.9
47.2
38.7
62.0
53.6
0 .8
72.6
14,976.5 15,618.7 15,216.6 15,377.1 15,556.3 15,737.6 15,803.8
7 14,459.6 15,040.5 14,716.3 14,805.8 14,959.2 15,175.3 15,221.7
2010
2011
IV
2010
IV
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..........
Addendum:
Final sales of domestic
product................................
N o t e . Chained
1
2011
1
II
III
IV
13,088.0 13,313.4 13,216.1 13,227.9 13,271.8 13,331.6 13,422.4
2
1,663.2
1,776.3
1,716.8
1,749.6
1,765.0
1,785.2
1,805.6
3
2,085.0
2,188.7
2,131.0
2,173.9
2,181.4
2,187.9
2,211.5
4 13,500.4 13,717.2 13,621.2 13,644.2 13,679.9 13,725.3 13,819.5
5
6
58.8
35.6
38.3
49.1
39.1
- 2 .0
56.0
13,440.7 13,684.7 13,585.9 13,598.4 13,643.4 13,733.4 13,763.7
7 13,028.9 13,281.8 13,181.6 13,182.8 13,236.2 13,340.9 13,367.4
(2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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.
D-10
February 2012
National Data
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
Table 1.5.2. Contributions to Percent Change in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product..........
Personal consumption
expenditures...................................
Goods................................................
Durable goods..............................
Motor vehicles and parts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles................................
Other durable goods...............
Nondurable goods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear............
Gasoline and other energy
goods ...................................
Other nondurable goods.........
S ervices............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
H ealthcare...............................
Transportation services..........
Recreation services.................
Food services and
accommodations.................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (NPISHs ) 1 ..........
Gross output of nonprofit
institutions 2 ........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 ........
Gross private domestic investment
Fixed investment...............................
Nonresidential..............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 .......................
O ther................................
Industrial equipment...........
Transportation equipment
Other equipm ent................
Residential....................................
Net exports of goods and services
Exports..............................................
Goods............................................
S ervices........................................
Im ports..............................................
Goods............................................
S ervices........................................
Government consumption
expenditures and gross
investment........................................
Federal..............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
Seasonally adjusted at annual rates
Line
2011
I
II
III
3.0
1.7
2.3
0.4
1.3
1.8
2.8
2
3
4
5
2.0
4.3
7.2
2.3
2.2
3.8
3.6
8.3
17.2
37.1
2.1
4.7
11.7
15.8
0.7
- 1 .6
-5.3
-25.5
1.7
1.4
5.7
2.0
5.7
14.8
37.7
1 .6
6
8.1
5.4
8.9
3.5
3.1
5.6
8 .6
7
12.3
6.1
15.3
8.5
12.1
2 .6
9
2.9
11.4
4.5
4.3
8.9
8
11.9
5.2
1.7
9.8
-7.0
1.7
10
11
2.4
5.8
1 .6
0 .8
3.0
4.8
12.4
12
0.1
13
14
3.4
0.9
-4.2
4.2
1.4
-5.9
5.2
1.3
- 6 .0
5.3
15
16
17
18
19
0.9
0.9
1.4
1.5
0.1
2 .0
1.7
-0.7
4.3
-1.5
0 .6
0 .8
2 .0
0.5
3.2
-
0.1
1 .2
-0.5
- 2 .0
20
3.1
3.9
3.6
21
22
-
1 .6
3.1
6 .1
0 .2
-0.5
1 .2
2 .2
- 0 .1
-7.8
- 8 .0
2.7
1.9
-1.5
1.9
0.7
0 .2
3.0
2 .6
-0.5
3.5
1.9
0 .2
-3.1
2 .8
1 .6
2 .8
- 0 .6
- 0 .2
9.2
0.3
7.5
0.4
2.5
6.9
1.1
2 .6
6.3
1.3
1.5
3.5
- 0 .8
-3.0
1.5
0 .8
0 .8
1 .2
1.5
1 .0
4.3
0.3
1 .2
3.0
0 .2
0 .0
1.1
23
1.1
-0.4
-7.8
0 .6
0 .8
9.7
4.9
24
1.9
1 .2
3.6
-1.7
1.4
-0.3
2 .2
2 .2
1.7
4.7
7.6
-7.1
7.5
8.7
10.5
-2.5
3.8
1.3
20.0
3.3
1.7
-7.2
5.2
1 .2
2 .1
1.5
6.4
9.2
10.3
8.1
-14.3
8.7
2 2 .6
6 .2
-3.4
1.3
13.0
15.7
14.4
16.2
10.9
0.3
8.9
1 .2
6.3
17.4
5.9
23.0
-6.7
50.5
8 .2
8 .0
0 .6
8.9
9.9
2 .0
1 .6
12.1
8 .0
-6.7
- 0 .8
14.9
-0.5
4.2
-13.0
31.8
33.0
36.7
1.3
23.9
5.7
- 2 .0
25
26
27
28
29
30
4.4
-15.8
14.6
4.1
10.3
31
9.9
5.9
32
33
34
35
36
37
38
39
41)
41
4?
43
44
45
46
47
48
30.5
49
50
51
52
b3
54
55
56
57
58
b9
17.9
2 .6
2 .8
11.4
6.9
68.9
1 1 .6
-4.3
6 .6
8 .6
12.9
25.2
10.4
-1.4
11.3
14.4
5.0
12.5
14.8
2.9
6 .8
0.7
4.5
3.3
3.0
5.1
7.1
-2.1
- 2 .0
-2.4
- 1.1
-9.9
- 1 .2
-1.5
0.5
-2.3
- 1 .2
-7.0
6 .2
14.3
- 1 .8
-1.3
-3.9
7.5
5.1
5.0
5.8
1.1
11.7
37.8
- 0 .6
4.3
2.5
1 2 .6
-2.4
7.8
9.2
4.7
-2.3
-0.5
-10.4
-2.8
-3.0
-5.9
- 8 .0
7.9
3.1
2 .6
6.5
-2.7
- 1.1
-9.0
7.9
1 0 .6
-
3.6
2.5
1.7
8.3
9.5
6 .2
2 .2
0.4
-5.9
-9.4
-0.9
1.9
7.0
9.1
-5.8
-7.6
- 8 .0
-5.0
- 2 .8
-1.4
-8.9
1 2 .6
-7.3
-39.1
-2.7
-2.4
-5.3
-3.4
0 .0
-16.9
2 0 .2
7.5
-11.7
10.9
4.7
5.0
4.0
1.4
1 .2
1 .6
0.5
4.8
-0.1
2.1
5.0
4.0
11.9
-3.8
-4.9
4.2
- 1 .6
- 2 .0
0.4
4.7
5.0
3.9
4.4
4.1
5.6
-4.6
-7.3
-12.5
-11.5
-19.0
4.2
-
6 .8
12.1
- 2 .6
-2.9
-1.5
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
2011
IV
1
8.1
8 .0
2010
2010
IV
Percent change at annual rate:
Gross domestic product..........
Percentage points at annual rates:
Personal consumption
expenditures...................................
G oods................................................
Durable goods..............................
Motor vehicles and p a rts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles.................................
Other durable goods...............
Nondurable g oods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear.............
Gasoline and other energy
goods....................................
Other nondurable goods.........
Services.............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health ca re ...............................
Transportation services...........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (NPISHs) 1 ..........
Gross output of nonprofit
institutions 2 .........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 .........
Gross private domestic investment
Fixed investment...............................
Nonresidential...............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 ........................
Other.................................
Industrial equipment...........
Transportation equipment
Other equipment..................
Residential....................................
Change in private inventories.........
Farm ..............................................
Nonfarm.........................................
Net exports of goods and services
Exports..............................................
Goods............................................
Services.........................................
Imports...............................................
G oods............................................
Services.........................................
Government consumption
expenditures and gross
investment........................................
Federal...............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
1
3.0
1.7
2.3
2
3
4
5
1.44
0.99
0.53
0.05
1.53
0.87
0.60
0.19
6
0.13
0.09
7
9
0.27
0.07
0.46
0.26
0.06
0.28
10
11
0.13
0.13
12
8
13
14
15
16
17
18
19
2011
I
II
III
IV
0.4
1.3
1.8
2.8
2.48
1.87
1.47
1 .2 0
0.76
0.85
0.37
0.49
-0.38
-0.42
-0.74
1.24
0.33
0.42
0.04
1.45
1.34
1.07
0.81
0.14
0.06
0.05
0.09
0.14
0.24
0.05
0.67
0.32
0 .2 0
0 .2 1
0 .1 0
0.25
0.07
0.04
0.26
0.03
-0.09
0.08
0.07
0.25
0.27
0.04
0.07
0.06
0.05
- 0 .0 1
-0.19
0 .0 1
0 .0 0
0 .2 0
- 0 .1 2
0.25
0 .6 6
-0.17
0.30
0.36
-0.24
0.16
0.87
-0.04
0.15
0.90
- 0 .0 1
0.46
-0.15
0.30
0.61
0.76
- 0 .1 0
0.49
0.35
-0.19
0.06
- 0 .0 1
-0.05
0.85
0.09
0.32
0.73
0.35
-0.07
0 .0 0
0 .0 1
0 .0 1
0.23
0.19
0.07
0.43
0.67
0 .1 2
0 .0 1
0.16
0.23
1 .1 0
-0.09
0.27
0.07
0 .2 1
0 .1 0
0 .0 1
-0.40
0.13
0 .0 2
0 .0 1
0 .0 0
0.05
0.08
-0.03
20
0.14
0.17
0.16
0.30
0.05
0 .1 2
0.28
21
22
-0.07
0.08
0.07
0.05
0.19
0.23
0 .0 2
0.07
0.09
0.19
-0.05
-0.16
0.09
23
0 .0 2
- 0 .0 1
-0.15
0 .0 1
0 .0 1
0.18
0.09
24
0.15
0.09
0.27
-0.13
0 .1 0
- 0 .0 2
0.17
25
26
27
28
29
30
0.13
1.96
0.32
0.42
-0.51
0.93
0 .1 0
0.58
0.79
0.82
0.43
-0.91
0 .8 8
-0.15
0.47
0.15
0.82
0.26
0.56
0.08
2.35
0.41
0.18
-0.40
0.60
- 0 .2 0
0.17
1.52
1.49
0.37
0.71
0.09
0.79
1.07
0.98
0.54
0.44
1 .1 2
- 0 .2 1
0.39
31
0.35
0 .2 2
0.39
0 .0 1
0.32
0.04
0.23
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
0.16
0.05
0.14
0.08
0.36
0.14
0 .1 1
0 .1 0
0 .0 1
0.14
0.14
-0.05
0.04
0 .1 1
0 .1 1
0 .0 0
0 .0 2
0.08
0.14
-0.18
0.36
0.30
0.42
0.03
-1.35
0.19
-1.82
-1.74
-0.08
0.27
0.14
-0.09
- 0 .0 1
0.14
- 0 .0 1
0.09
-0.28
- 0 .0 2
-0.26
0.24
0.48
0.24
0.24
-0.24
-0.23
- 0 .0 1
49
50
51
52
53
54
55
56
57
58
59
0.14
0.37
0.18
0.14
0.04
0.19
0.14
0.05
-0.23
-0.13
- 0 .1 0
-0.18
0.16
0.37
0.42
-0.04
- 0 .2 2
- 0 .2 0
- 0 .0 2
-0.34
-0.14
- 0 .2 0
-0.02
0.17
0.27
0.19
0.08
- 0 .1 0
- 0 .1 2
0 .0 2
- 0 .1 1
1.64
0 .0 0
1.64
-0.51
1.31
1 .1 2
0 .1 1
0.15
0 .2 2
0.13
-0.03
- 0 .2 0
-0.04
-0.16
0.05
0.05
0.06
-1.79
0 .0 1
-0.82
-0.79
-0.03
-1.80
1.37
0.98
0.79
0.18
0.39
0.08
0.31
-0.45
-0.17
-0.13
-0.05
-0.08
-0.03
-0.04
-0.58
-0.26
-0.34
-0.40
0.06
0.09
0.06
0 .8 8
0 .6 8
0 .2 0
0 .0 0
0 .0 2
-0.28
- 0 .1 2
-0.16
-0.33
- 0 .1 1
- 0 .2 2
0 .2 0
0.14
0.30
0.15
-0.06
0.32
-0.09
0.41
-0.34
1 .01
0.94
0.07
-1.35
-1.29
-0.06
-1.23
-0.82
-0.74
-0.36
-0.38
-0.08
-0.06
- 0 .0 2
-0.41
0 .0 0
-0.41
0 .1 1
-1.46
0.43
0.64
0.48
0.16
- 0 .2 1
-0.08
-0.13
0 .0 1
-0.19
- 0 .2 0
0 .0 1
0.15
0 .1 0
- 0 .0 2
0.25
0.08
-0.17
0.23
1.94
0.04
1.90
-0.11
0.64
0.48
0.16
-0.75
-0.60
-0.15
-0.93
-0.62
-0.73
-0.58
-0.15
0 .1 1
0.16
-0.04
-0.32
-0.28
-0.03
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2 . Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded," or bundled, in computers and other equipment.
February
2012
S urvey
of
C u r r e n t B u s in e s s
D -1 1
Table 1.5.3. Real Gross Domestic Product,
Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product,
Expanded Detail
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
Line
2010
2011
2010
IV
Gross domestic product..........
Personal consumption
expenditures...................................
Goods.................................................
Durable goods..............................
Motor vehicles and parts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles................................
Other durable goods...............
Nondurable goods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear............
Gasoline and other energy
goods...................................
Other nondurable goods.........
Services............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health care...............................
Transportation services..........
Recreation services................
Food services and
accommodations.................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (NPISHs ) 1 ..........
Gross output of nonprofit
institutions 2 ........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 ........
Gross private domestic investment
Fixed investment...............................
Nonresidential..............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 .......................
O ther................................
Industrial equipment...........
Transportation equipment
Other equipm ent.................
Residential....................................
Net exports of goods and services
Exports..............................................
Goods............................................
S ervices.......................................
Im ports..............................................
Goods............................................
S ervices........................................
Government consumption
expenditures and gross
investment........................................
Federal..............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
1
Line
2011
I
II
III
103.684 105.470 104.699 104.792 105.140 105.614 106.334
104.741 107.015 105.962 106.511 106.693 107.156 107.699
3 105.006 108.944 107.452 108.700 108.272 108.646 110.157
4 105.782 114.345 110.600 113.710 112.180 113.747 117.746
5 80.859 87.331 86.951 90.207 83.810 84.149 91.156
2
6
99.542 104.934 102.203 103.088 103.869 105.298 107.483
7 146.932 164.395 152.979 158.516 161.925 166.608 170.532
109.810 115.556 112.106 114.425 116.129 116.886 114.785
9 104.501 106.328 105.839 106.249 106.306 106.160 106.596
8
10
11
104.440 106.062 105.629 105.834 106.151 106.113 106.153
108.594 111.859 111.477 112.335 112.949 1 1 0 .6 6 6 111.487
92.582 88.665 91.657 90.250 88.396 88.061 87.953
13 108.633 113.227 110.625 112.061 112.808 113.523 114.515
14 104.628 106.087 105.250 105.453 105.941 106.449 106.506
12
105.132
105.567
112.453
87.922
107.380
104.345
105.664
111.719
87.999
105.018
104.548
105.274
111.877
87.898
104.487
1b
16
17
18
19
103.607
105.474
110.235
87.488
104.025
20
103.207 107.283 104.542 106.309 106.592 107.288 108.943
21
22
95.619 97.079 95.583 96.600 96.923 97.761 97.031
101.882 103.064 102.732 102.794 103.175 102.956 103.331
105.043
105.464
112.655
87.858
106.816
105.466
106.183
112.483
87.922
108.767
105.472
105.347
112.796
88.009
109.449
23 132.264 131.681 129.390 129.577 129.829 132.863 134.456
24 113.146 114.463 114.560 114.062 114.447 114.357 114.985
25 107.201 109.019 109.765 109.083 109.502 108.565 108.928
26 78.945 82.642 79.848 80.600 81.869 82.135 85.964
27 77.667 82.822 79.812 80.052 81.829 84.362 85.046
28 97.913 106.314 101.822 102.342 104.889 108.782 109.244
29 87.883 91.497 90.399 86.974 91.511 94.631 92.874
30 102.393 112.909 106.925 109.174 110.839 115.077 116.546
31 126.788 134.330 131.401 131.506 134.328 134.713 136.774
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
191.322
117.486
116.229
91.804
65.668
90.851
42.681
224.703 205.532 201.997 223.733 230.203 242.880
124.379 120.360 120.968 123.327 125.728 127.493
116.930 120.179 120.670 118.585 114.526 113.939
103.629 96.295 99.003 98.806 105.861 110.845
82.205 70.925 76.843 79.550 85.431 86.995
100.284 94.388 97.224 97.113 105.005 101.796
42.091 41.684 41.428 41.855 41.991 43.090
127.444
128.564
125.030
102.821
101.248
111.742
136.112
138.256
131.392
107.934
107.118
112.937
131.551
132.984
128.433
105.091
104.065
111.185
134.061
136.363
128.977
107.207
106.464
111.798
135.240
137.206
130.926
107.573
106.875
111.918
136.789
138.874
132.204
107.897
107.020
113.243
138.358
140.579
133.463
109.058
108.113
114.788
49
50
51
52
53
54
55
56
57
58
59
107.886
122.782
121.942
118.281
148.516
124.508
122.522
139.013
99.557
100.080
97.424
105.577
120.363
119.076
116.976
133.810
123.004
120.731
139.731
97.308
98.928
90.566
107.691
123.197
121.846
117.569
153.045
125.985
123.619
143.408
99.020
99.619
96.575
106.076
120.195
117.822
115.377
135.186
125.111
122.882
141.478
98.177
99.615
92.202
105.837
120.769
119.841
117.923
133.174
122.665
120.354
139.686
97.488
99.268
90.069
105.812
121.385
121.311
119.087
136.957
121.494
118.853
141.125
97.107
98.773
90.168
104.582
119.101
117.332
115.515
129.923
122.745
120.833
136.635
96.461
98.054
89.826
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
2010
2011
Gross domestic product..........
Personal consumption
expenditures...................................
Goods................................................
Durable g oods..............................
Motor vehicles and p a rts ........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles.................................
Other durable goods...............
Nondurable g oods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear.............
Gasoline and other energy
goods....................................
Other nondurable goods.........
Services.............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health ca re ...............................
Transportation services...........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (NPISHs ) 1 ..........
Gross output of nonprofit
institutions 2 .........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 .........
Gross private domestic investment
Fixed investment...............................
Nonresidential...............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 ........................
Other.................................
Industrial equipment...........
Transportation equipment
Other equipment..................
Residential....................................
Net exports of goods and services
Exports..............................................
G oods............................................
Services........................................
Imports...............................................
Goods............................................
Services.........................................
Government consumption
expenditures and gross
investment........................................
Federal...............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
1
2011
2010
IV
IV
I
II
III
IV
111.000 113.307 111.699 112.390 113.091 113.811 113.935
111.112 113.815 111.673 112.747 113.666 114.324 114.524
3 104.837 108.750 105.367 107.412 108.752 109.530 109.304
4 91.348 90.437 90.507 90.362 90.745 90.628 90.015
5 103.050 106.156 103.467 104.039 106.251 107.374 106.957
2
6
93.732
92.336
92.148
92.169
92.542
92.637
91.995
7
71.744 66.917 69.865 68.628 67.580 66.317 65.142
110.924 114.264 111.883 113.178 113.957 114.497 115.422
9 112.748 119.569 114.092 117.463 119.383 120.707 120.723
8
10
11
113.853 118.352 114.306 116.117 117.922 119.287 120.081
98.033 99.727 97.485 97.639 98.281 101.331 101.659
125.907 158.700 134.334 153.235 160.678 162.387 158.499
13 112.788 114.585 113.170 113.784 114.434 114.798 115.326
14 114.465 116.493 115.037 115.574 116.260 116.852 117.286
12
117.140
114.993
117.461
121.380
113.917
115.665
113.689
116.287
118.634
112.467
116.203
114.142
116.653
120.208
113.123
116.892
114.637
117.301
121.232
113.706
117.503
115.309
117.811
121.533
114.087
117.962
115.884
118.081
122.545
114.753
15
16
17
18
19
115.126
113.417
115.561
118.111
112.049
20
115.787 118.718 116.488 116.939 118.423 119.697 119.813
21
22
116.833 118.672 117.252 117.947 118.646 118.917 119.180
116.385 118.696 117.193 117.771 118.310 118.995 119.709
23 100.071 102.394 101.342 101.854 102.474 102.665 102.583
24 113.103 115.593 113.989 114.672 115.429 116.007 116.262
25
26
27
28
29
30
118.068
104.743
104.843
105.373
121.117
99.634
120.624
106.432
106.161
106.734
126.597
99.745
118.809
105.199
105.035
105.536
122.475
99.406
119.557
105.755
105.412
105.909
123.982
99.446
120.366
106.342
106.039
106.560
125.835
99.743
121.093
106.646
106.433
107.027
127.565
99.838
121.479
106.983
106.759
107.442
129.008
99.953
31
90.252
88.757
89.543
89.255
88.891
88.603
88.280
32
33
34
35
36
37
38
“W
40
41
4?
43
44
45
46
47
48
62.170
100.702
92.651
115.052
102.857
111.005
102.214
58.477
100.486
91.389
118.426
104.940
112.518
103.367
61.223
100.306
91.781
115.791
103.302
111.261
102.563
59.975
100.502
91.636
117.083
104.109
110.755
102.958
58.833
100.561
91.382
118.273
105.182
111.999
103.479
57.879
100.495
91.407
119.074
105.033
113.000
103.551
57.222
100.386
91.131
119.275
105.437
114.319
103.482
110.617
109.690
112.669
113.032
112.607
114.560
117.546
117.734
116.969
121.774
122.373
118.013
112.757
112.396
113.494
114.271
113.780
116.066
115.725
115.859
115.282
119.370
119.647
117.261
118.182
118.572
117.125
122.949
123.632
118.754
118.747
118.981
118.058
122.543
123.168
118.640
117.529
117.525
117.413
122.236
123.047
117.396
49
50
51
52
53
54
55
56
57
58
59
117.445
113.653
114.046
115.292
106.262
112.860
114.438
102.616
119.704
119.000
122.674
121.093
116.878
117.593
119.059
108.549
115.456
117.307
103.569
123.646
123.014
126.308
118.341
114.331
114.802
116.097
106.751
113.380
115.011
102.824
120.757
120.098
123.520
119.910
115.827
116.576
118.016
107.694
114.333
116.092
103.003
122.372
121.146
116.902
117.672
119.152
108.545
115.367
117.227
103.423
123.721
1 2 1 .8 8 8 123.246
124.337 125.636
121.523
117.413
118.119
119.584
109.084
116.011
117.901
103.886
123.997
123.299
126.971
121.794
117.372
118.005
119.485
108.874
116.115
118.009
103.964
124.494
123.622
128.287
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
D-12
National Data
February 2012
Table 1.5.5. Gross Domestic Product, Expanded Detail
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product........................................................................................................
Personal consumption expenditures
G oods.............................................
Durable goods............................
Motor vehicles and parts.....
Furnishings and durable household equipment................................................................
Recreational goods and vehicles........................................................................................
Other durable goods............
Nondurable goods......................................................................................................................
Food and beverages purchased for off-premises consumption.....................................
Clothing and footwear...........................................................................................................
Gasoline and other energy goods.......................................................................................
Other nondurable goods
................................................................................................
Services..........................................................................................................................................
Household consumption expenditures (for services)...........................................................
Housing and utilities.............
Health care.............................
Transportation services......
Recreation services.............
Food services and accommodations
Financial services and insurance........................................................................................
Other services........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs ) 1
Gross output of nonprofit institutions 2 ...............................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ...............
Gross private domestic investment.............................................................................................
Fixed investment............................................................................................................................
Nonresidential...............
S tructures.................
Equipment and software
Information processing equipment and software.........................................................
Computers and peripheral equipm ent......................................................................
Software 4
Other.................
Industrial equipm ent........................................................................................................
Transportation equipm ent...............................................................................................
Other equipment...
Residential.....................
Change in private inventories
Farm................................
Nonfarm .........................
Net exports of goods and services.............................................................................................
Exports.............................................................................................................................................
G oods...
Services
Imports.,,,
G oods...
Services......................................................................................................................................
Government consumption expenditures and gross investment..........................................
Federal.............................................................................................................................................
National defense...........
Consumption expenditures
Gross investment
Nondefense....................
Consumption expenditures
Gross investment
State and local...................
Consumption expenditures
Gross investment.......................................................................................................................
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
14,526.5
10,245.5
3,387.0
1,085.5
340.1
243.8
329.8
171.8
2,301.5
766.4
334.3
354.1
846.7
6,858.5
6,578.3
1,893.2
1,667.4
295.5
382.6
638.0
780.2
921.4
280.2
1,118.9
838.6
1,795.1
1,728.2
1,390.1
374.4
1,015.7
543.8
93.8
257.9
192.1
168.6
122.7
180.5
338.1
66.9
- 1 .6
6 8 .6
-516.9
1,839.8
1,277.8
562.0
2,356.7
1,947.3
409.4
3,002.8
1 ,2 2 2 . 8
819.2
702.1
117.1
403.6
351.9
51.7
1,780.0
1,443.5
336.5
15,087.7
10,722.6
3,645.2
1,161.9
378.3
253.2
344.1
186.2
2,483.3
809.0
350.3
427.4
896.6
7,077.4
6,791.9
1,921.2
1,728.8
305.2
401.5
680.0
804.6
950.6
285.5
1,156.7
871.2
1,913.6
1,866.4
1,529.2
407.8
1,121.4
566.7
103.6
272.5
190.7
195.9
156.8
2 0 2 .0
337.2
47.2
-7.5
54.8
-578.2
2,087.6
1,474.4
613.2
2,665.8
2,239.5
426.2
3,029.7
1,232.7
824.8
717.0
107.8
407.9
355.5
52.5
1,797.0
1,475.0
322.0
14,755.0
10,417.1
3,483.4
1,124.7
367.1
246.1
334.5
176.9
2,358.7
778.2
341.3
374.1
865.2
6,933.7
6,656.0
1,901.1
1,700.4
298.5
387.7
650.1
782.7
935.5
277.6
1,141.6
864.0
1,818.0
1,779.3
1,447.9
389.6
1,058.3
559.3
99.3
263.2
196.8
178.0
133.1
187.9
331.3
38.7
-6.5
45.2
-500.2
1,935.3
1,353.8
581.5
2,435.5
2 ,0 2 2 . 8
412.7
3,020.2
1,234.3
823.9
702.7
1 2 1 .2
410.3
356.9
53.5
1,786.0
1,450.1
335.9
2011
I
14,867.8
10,571.7
3,592.2
1,154.5
383.0
248.3
340.5
182.7
2,437.8
792.0
344.5
420.2
881.1
6,979.4
6,700.0
1,901.7
1,708.1
302.1
387.9
663.7
795.7
940.7
279.4
1,143.5
864.0
1,853.1
1,791.1
1,460.5
379.5
1,081.0
557.9
95.6
265.1
197.3
185.0
145.4
192.7
330.6
62.0
-9.4
71.4
-571.3
2,024.1
1,431.0
593.2
2,595.4
2,176.2
419.3
3,014.4
1,219.9
809.0
701.0
108.0
410.9
358.1
52.8
1,794.4
1,471.7
322.8
II
15,012.8
10,676.0
3,622.7
1,143.8
363.4
251.2
342.5
186.7
2,478.9
806.7
348.6
431.5
892.1
7,053.3
6,771.6
1,913.3
1,729.5
304.6
398.6
673.9
803.1
948.5
281.7
1,154.9
873.2
1,895.3
1,841.7
1,506.0
405.2
1 , 1 0 0 .8
567.6
103.9
270.4
193.3
186.5
152.0
194.6
335.7
53.6
-9.9
63.5
-597.1
2,085.3
1,473.5
611.7
2,682.4
2,257.3
425.1
3,038.6
1,237.1
830.6
723.4
107.3
406.5
354.1
52.4
1,801.5
1,482.9
318.6
III
15,176.1
10,784.5
3,661.2
1,158.3
368.7
254.9
345.8
188.8
2,503.0
815.8
352.2
434.5
900.6
7,123.2
6,834.4
1,937.7
1,734.4
305.6
407.3
685.6
811.9
952.0
288.8
1,159.8
871.0
1,906.6
1,905.8
1,568.7
424.8
1,143.9
567.4
105.1
275.5
186.8
15,294.3
10,858.1
3,704.5
1,190.9
397.9
258.4
347.7
186.9
2,513.6
821.5
355.9
423.5
912.6
7,153.6
6,861.5
1,932.0
1,743.2
308.4
412.2
696.9
807.6
961.2
292.0
1,168.7
876.7
1,999.7
1,927.1
1,581.5
421.7
1,159.9
573.9
109.7
279.0
185.2
2 0 1 .2
2 1 1 .0
163.1
212.3
337.0
166.7
208.2
345.6
72.6
-5.3
77.8
-582.1
2 , 1 2 1 .6
1,496.4
625.1
2,703.6
2,272.7
431.0
3,018.6
1,225.0
815.6
710.6
105.0
409.4
357.9
51.5
1,793.7
1,469.2
324.4
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
IV
0 .8
-5.6
6.4
-562.3
2,119.2
1,496.6
622.6
2,681.6
2,251.9
429.7
3,047.3
1,248.9
844.0
733.2
110.9
404.9
351.7
53.1
1,798.5
1,476.1
322.3
February 2012
S urvey
of
D-13
C u r r e n t B u s in e s s
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product........................................................................................................
Personal consumption expenditures
G oo d s........................................
Durable goods......................
Motor vehicles and parts.
Furnishings and durable household equipment................................................................
Recreational goods and vehicles
...............................................................
Other durable goods.......
Nondurable goods......................................................
Food and beverages purchased for off-premises consumption.....................................
Clothing and footwear...........................................
Gasoline and other energy goods.......................
Other nondurable goods......................................
Services...........................................................................
Household consumption expenditures (for services)
Housing and utilities..............................................................................................................
Health care.............................................................................................................................
Transportation services........................................................................................................
Recreation services..............................................................................................................
Food services and accommodations.................................................................................
Financial services and insurance........................................................................................
Other services.......................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs ) 1
Gross output of nonprofit institutions 2 ...............................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ...............
Gross private domestic investment.............................................................................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software......................................................................................................
Information processing equipment and software.........................................................
Software 5 .....................................................................................................................
O ther........................
Industrial equipm ent...
Transportation equipment
Other equipment........
Residential.................................................................................................................................
Change in private inventories
Farm.........................
Nonfarm...................
Net exports of goods and services
Exports............................................................................................................................................
Goods
Services
Imports
Goods
Services......................................................................................................................................
Government consumption expenditures and gross investment..........................................
Federal............................................................................................................................................
National defense........................................................................................................................
Consumption expenditures
Gross investment...........
Nondefense.........................
Consumption expenditures
Gross investment..................................................................................................................
State and local............
Consumption expenditures
Gross investment...
Residual...........................
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
V
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
2011
I
II
III
IV
13,088.0
9,220.9
3,230.7
1,188.3
330.1
260.1
459.6
154.9
2,041.3
673.1
341.0
281.3
750.7
5,991.8
5,714.0
1,669.2
1,442.9
250.2
341.4
551.0
667.8
791.7
280.0
989.2
710.3
1,714.9
1,648.4
1,319.2
309.1
1,019.4
602.6
13,313.4
9,421.1
3,351.9
1,284.5
356.5
274.2
514.3
163.0
2,077.0
683.6
351.3
269.4
782.5
6,075.4
5,798.1
1,670.7
1,471.9
251.4
352.5
572.8
678.0
800.9
278.8
1,000.7
722.4
1,795.2
1,757.8
1,432.4
321.8
1,124.1
638.4
13,216.1
9,328.4
3,306.0
1,242.4
354.9
267.0
478.5
158.1
2,067.4
680.8
350.1
278.4
764.5
6,027.5
5,754.7
1,672.2
1,462.3
251.6
344.7
558.2
667.6
798.3
273.9
1 ,0 0 1 . 6
727.3
1,734.5
1,693.9
1,371.9
318.0
1,064.5
624.5
13,227.9
9,376.7
3,344.4
1,277.4
368.2
269.3
495.9
161.4
2,075.4
682.1
352.8
274.2
774.4
6,039.1
5,765.9
1 ,6 6 6 . 0
1,464.3
251.4
343.0
567.6
674.7
798.8
274.3
997.2
722.8
1,750.9
1,699.0
1,378.9
305.9
1,086.9
625.0
13,271.8
9,392.7
3,331.2
1,260.2
342.1
271.4
506.5
163.8
2,076.6
684.1
354.7
268.5
779.6
6,067.0
5,793.2
1,669.1
1,474.5
251.2
350.6
569.1
676.9
801.8
274.9
1 ,0 0 0 .6
725.5
1,778.4
1,736.7
1,413.2
321.9
1,103.5
638.4
13,331.6
9,433.5
3,342.7
1,277.8
343.5
275.1
521.2
164.9
2,073.7
683.9
347.5
267.5
784.5
6,096.1
5,816.6
1,680.4
1,472.3
251.4
357.0
572.8
682.8
800.1
281.3
999.8
719.3
1,784.2
1,790.4
1,465.6
332.9
1,145.7
640.2
13,422.4
9,481.3
3,389.2
1,322.7
372.1
280.8
533.5
161.9
2,082.2
684.1
350.1
267.2
791.4
6,099.4
5,816.9
1,667.2
1,476.4
251.7
359.2
581.7
677.7
803.0
284.7
1,005.3
721.7
1,867.4
1,805.0
1,471.9
326.7
1,160.3
650.0
256.1
207.3
146.6
119.3
162.6
330.8
58.8
-1.4
60.7
-421.8
1,663.2
1,164.9
498.8
2,085.0
1,729.3
357.4
2,556.8
1,075.9
718.3
609.0
271.2
208.6
165.4
149.4
179.5
326.2
35.6
- 6 .8
44.9
-412.3
1,776.3
1,252.7
524.2
2,188.7
1,829.6
361.2
2,502.0
1,054.7
701.4
602.2
99.3
353.3
303.0
50.7
1,453.4
1,199.0
255.0
-90.7
262.4
214.4
153.7
128.9
168.9
323.1
38.3
-5.2
44.7
-414.2
1,716.8
1,204.9
512.4
2,131.0
1,777.4
355.6
2,552.1
1,079.6
717.7
605.3
113.6
361.9
310.3
52.0
1,478.9
1,207.4
271.9
-61.2
263.7
215.2
158.1
139.6
174.0
321.1
49.1
-7.8
59.7
-424.4
1,749.6
1,235.6
514.6
2,173.9
1,818.4
357.5
2,513.9
1,053.3
694.0
594.0
100.3
359.4
308.4
51.3
1,466.4
1,207.4
259.6
-74.8
268.9
211.5
157.7
144.6
173.8
324.4
39.1
-8.7
51.0
-416.4
1,765.0
1,243.2
522.4
2,181.4
1,825.4
357.9
2,508.2
1,058.3
705.9
607.1
98.8
352.4
302.1
50.6
1,456.1
1,203.2
253.6
-86.5
274.1
204.3
169.0
155.2
187.9
325.4
- 2 .0
- 6 .0
5.5
-402.8
1,785.2
1,258.3
527.5
2,187.9
1,827.9
362.2
2,507.6
1,063.7
714.6
613.1
277.9
203.2
177.0
158.1
182.2
333.9
56.0
-4.9
63.6
-405.8
1,805.6
1,273.8
532.5
2,211.5
1,846.5
367.1
2,478.5
1,043.7
691.1
594.7
96.4
352.6
303.3
49.5
1,440.7
1,188.4
252.9
-106.4
1 1 0 .2
357.7
307.5
50.4
1,487.0
1,213.0
274.3
-39.3
1 0 1 .6
349.0
298.3
51.2
1,450.4
1,197.2
253.9
-94.7
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. The quantity index for computers can be used to accurately measure the real growth of this component. However, because computers exhibit rapid changes in prices relative to other prices in the economy, the
chained-dollar estimates should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series; accurate estimates of these contributions are shown in table
1.5.2 and real growth rates are shown in table 1.5.1.
5. Excludes software “embedded," or bundled, in computers and other equipment.
N o t e . The residual line is the difference between the first line and the sum of the most detailed lines.
D-14
February 2012
National Data
Table 1.6.4. Price Indexes for
Gross Domestic Purchases
Table 1.6.7. Percent Change From Preceding Period in
Prices for Gross Domestic Purchases
[Index numbers, 2005=100]
[Percent]
Seasonally adjusted
Line
Gross domestic purchases...........
Personal consumption expenditures
Goods..................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods..................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
goods .....................................
Other nondurable goods...........
S ervices..............................................
Household consumption
expenditures...............................
Housing and utilities..................
Healthcare.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services............................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)...............
Gross private domestic investment
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment and software...........
Information processing
equipment and software...
Computers and peripheral
equipm ent.....................
Software 1 .........................
O ther..................................
Industrial equipment.............
Transportation equipment....
Other equipm ent...................
Residential......................................
Farm................................................
Government consumption
expenditures and gross
investment..........................................
Federal................................................
National defense............................
Consumption expenditures.......
Gross investment.......................
Nondefense....................................
Consumption expenditures.......
Gross investment.......................
State and local....................................
Consumption expenditures.......
Gross investment.......................
Addenda:
Final sales of computers to domestic
purchasers 2 ...................................
Gross domestic purchases excluding
final sales of computers to
domestic purchasers.....................
Food 3 ...................................................
Energy goods and services..............
Gross domestic purchases excluding
food and energy.............................
Gross domestic product....................
Gross domestic product
excluding final sales of
com puters..............................
Food 3 .........................................
Energy goods and services......
Gross domestic product
excluding food and energy...
Final sales of domestic product........
Final sales to domestic purchasers
Implicit price deflator for gross
domestic purchases......................
2010
2011
2010
Seasonally adjusted at annual rates
Line
2011
IV
I
II
III
3
4
5
111.438
111.112
104.837
91.348
103.050
114.186
113.815
108.750
90.437
106.156
112.048
111.673
105.367
90.507
103.467
113.147
112.747
107.412
90.362
104.039
114.081
113.666
108.752
90.745
106.251
114.642
114.324
109.530
90.628
107.374
6
93.732
92.336
92.148
92.169
92.542
92.637
7
q
71.744
110.924
112.748
66.917
114.264
119.569
69.865
111.883
114.092
68.628
113.178
117.463
67.580
113.957
119.383
66.317
114.497
120.707
10
11
113.853
98.033
118.352
99.727
114.306
97.485
116.117
97.639
117.922
98.281
119.287
101.331
12
13
14
125.907
112.788
114.465
158.700
114.585
116.493
134.334
113.170
115.037
153.235
113.784
115.574
160.678
114.434
116.260
162.387
114.798
116.852
15
16
17
18
19
115.126
113.417
115.561
118.111
112.049
117.140
114.993
117.461
121.380
113.917
115.665
113.689
116.287
118.634
112.467
116.203
114.142
116.653
120.208
113.123
116.892
114.637
117.301
121.232
113.706
117.503
115.309
117.811
121.533
114.087
1
2
8
20
115.787
118.718
116.488
116.939
118.423
119.697
21
22
116.833
116.385
118.672
118.696
117.252
117.193
117.947
117.771
118.646
118.310
118.917
118.995
23
24
25
26
27
28
100.071
104.743
104.843
105.373
121.117
99.634
102.394
106.432
106.161
106.734
126.597
99.745
101.342
105.199
105.035
105.536
122.475
99.406
101.854
105.755
105.412
105.909
123.982
99.446
102.474
106.342
106.039
106.560
125.835
99.743
102.665
106.646
106.433
107.027
127.565
99.838
29
90.252
88.757
89.543
89.255
88.891
88.603
30
31
32
33
34
35
36
37
38
39
62.170
100.702
92.651
115.052
102.857
111.005
102.214
58.477
100.486
91.389
118.426
104.940
112.518
103.367
61.223
100.306
91.781
115.791
103.302
111.261
102.563
59.975
100.502
91.636
117.083
104.109
110.755
102.958
58.833
100.561
91.382
118.273
105.182
111.999
103.479
57.879
100.495
91.407
119.074
105.033
113.000
103.551
40
41
42
43
44
45
46
47
48
49
50
117.445
113.653
114.046
115.292
106.262
112.860
114.438
102.616
119.704
119.000
122.674
121.093
116.878
117.593
119.059
108.549
115.456
117.307
103.569
123.646
123.014
126.308
118.341
114.331
114.802
116.097
106.751
113.380
115.011
102.824
120.757
120.098
123.520
119.910
115.827
116.576
118.016
107.694
114.333
116.092
103.003
122.372
51
58.381
54.127
52
53
54
112.125
113.861
121.675
5b
56
110.898
124.337
121.146
116.902
117.672
119.152
108.545
115.367
117.227
103.423
123.721
123.246
125.636
121.523
117.413
118.119
119.584
109.084
116.011
117.901
103.886
123.997
123.299
126.971
57.435
55.874
54.707
53.403
115.011
118.283
141.969
112.765
114.594
126.633
113.915
116.241
138.321
114.890
117.871
143.241
115.491
119.094
144.366
1 1 1 .0 0 0
112.874
113.307
111.326
111.699
111.987
112.390
112.734
113.091
113.239
113.811
b/
58
59
111.554
114.555
94.999
113.954
119.945
101.997
112.278
115.933
103.414
113.001
118.018
101.576
113.722
119.228
99.645
114.476
120.989
106.326
60
61
62
111.104
110.981
111.426
113.142
113.242
114.132
111.586
111.647
112.006
112.267
112.315
113.084
113.008
113.021
114.024
113.517
113.754
114.597
63
111.429
114.206
111.996
113.155
114.108
114.667
1 2 1 .8 8 8
114.873
Gross domestic purchases............
114.524
Personal consumption expenditures
109.304
Goods...................................................
Durable goods................................
90.015
106.957
Motor vehicles and parts..........
Furnishings and durable
91.995
household equipment...........
Recreational goods and
65.142
vehicles..................................
115.422
Other durable goods..................
120.723
Food and beverages purchased
for off-premises consumption
120.081
Clothing and footwear................
101.659
Gasoline and other energy
158.499
goods.......................................
Other nondurable goods...........
115.326
117.286
Services...............................................
Household consumption
117.962
expenditures...............................
115.884
Housing and utilities..................
Health care.................................
118.081
122.545
Transportation services............
114.753
Recreation services...................
Food services and
119.813
accommodations...................
Financial services and
119.180
insurance................................
119.709
Other services............................
Final consumption expenditures of
nonprofit institutions serving
102.583
households (NPISHs)...............
Gross private domestic investment
106.983
Fixed investment.................................
106.759
107.442
Nonresidential................................
129.008
Structures...................................
99.953
Equipment and software...........
Information processing
equipment and software...
88.280
Computers and peripheral
equipm ent.....................
57.222
100.386
Software 1 .........................
91.131
O ther..................................
Industrial equipment.............
119.275
Transportation equipment....
105.437
Other equipment....................
114.319
103.482
Residential......................................
37
Farm ................................................
39
Government consumption
expenditures and gross
investment..........................................
121.794
117.372
Federal..................................................
118.005
National defense.............................
Consumption expenditures.......
119.485
108.874
Gross investment.......................
116.115
Nondefense....................................
118.009
Consumption expenditures.......
Gross investment.......................
103.964
124.494
State and local....................................
123.622
Consumption expenditures.......
128.287
Gross investment.......................
Addenda:
Final sales of computers to domestic
52.524
purchasers 2 ...................................
Gross domestic purchases excluding
final sales of computers to
115.747
domestic purchasers.....................
Food 3 ...................................................
119.925
141.946
Energy goods and services..............
Gross domestic purchases excluding
food and energy..............................
113.535
113.935
Gross domestic product.....................
Gross domestic product
excluding final sales of
114.616
computers...............................
Food 3 ..........................................
121.546
100.440
Energy goods and services......
Gross domestic product
excluding food and energy...
113.776
Final sales of domestic product........
113.876
114.826
Final sales to domestic purchasers
Implicit price deflator for gross
114.884
domestic purchases 4 ....................
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2010
2011
IV
2010
2011
IV
I
II
III
2.1
1.9
3.4
-2.4
-0.3
4.0
3.9
- 0 .6
3.3
3.3
5.1
1.7
2 .2
8 .8
2.0
2.3
2.9
-0.5
4.3
IV
2
1.5
1.8
3
4
5
1 .6
2.5
2.4
3.7
-1.7
5.0
- 1 .0
3.0
6
-4.2
-1.5
-4.0
0.1
1 .6
0.4
-2.7
7
-6.7
3.0
-6.5
4.0
6 .2
6.7
-7.3
1.9
45
-6.9
3.3
6 .0
-6.9
4.7
12.4
- 6 .0
q
-7.3
0.5
3.2
10
11
0.3
-0.7
4.0
1.7
1.4
-2.9
6.5
6.4
2.7
4.7
13.0
2.7
1.3
12
18.2
26.0
45.3
69.3
13
14
1 .8
1 .6
1 .8
0 .6
1 .2
2 .2
20.9
2.3
2.4
4.3
1.3
-9.2
1.9
1.5
15
16
17
18
19
2 .0
1.7
1.4
1 .0
0 .8
1.9
2.4
1.7
2.1
1 .6
2 .8
1.3
2 .2
2 .0
3.5
1 .8
1 .0
1.7
0.3
2 .1
1.3
1
8
1.9
0.3
2.5
2.1
1.1
8 .0
2 .8
0 .6
1.9
1 .6
1.3
5.4
2.4
2.1
2.4
0.8
0.7
- 0 .8
-2.7
-1.5
0 1
1 .6
2 .0
0.9
3.4
2.4
20
1.4
2.5
1 .0
1 .6
5.2
4.4
0.4
21
22
5.6
2.5
1 .6
2 .0
0 .8
2.4
2.4
1.4
2 .0
1 .8
0.9
2.3
0.9
2.4
23
24
25
26
27
28
- 1.1
-1.6
-1.4
- 1 .6
- 1.1
- 1 .8
2.3
1.6
1.3
1.3
4.5
6 .0
2 .0
1.7
2.1
1.4
1.4
5.0
2.5
2.2
2.4
2.5
0.7
1.1
1.5
-0.3
1.3
1 .8
1 .2
1 .6
6.1
1 .2
5.6
0.4
4.6
0.5
29
-
30
31
32
33
34
35
36
-4.9
-0.9
- 1 .6
1 .8
1 .0
- 6 .6
- 2 .0
-0.4
0 .8
0.4
3.6
0.1
- 0 .8
0 .2
-1.7
- 2 .2
-1.3
-
1 .6
-1.3
-1.5
-5.9
- 0 .2
-1.4
2.9
-4.4
-0.9
- 2 .8
-7.9
-7.4
-6.3
-0.3
-4.5
-0.4
- 1 .2
0.7
1.5
4.8
-0.3
1.4
2 .2
1 .6
- 0 .8
1.1
2.5
2 .0
0 .8
0 .2
- 0 .6
4.5
3.2
- 1 .8
1.5
- 1.1
4.1
4.2
4.6
5.4
5.3
6.3
4.2
3.8
3.8
3.9
3.2
3.7
4.0
2 .0
0.1
2.7
- 0 .6
3.6
0.3
38
40
41
42
43
44
45
46
47
48
49
50
2.2
2.4
2.4
2.7
3.1
3.1
2 .8
2 .0
3.1
3.3
2.5
2.5
2.4
6 .8
3.6
3.4
3.8
0.7
5.5
1.3
1 .8
1.5
1.5
0.9
- 0 .1
-0.4
-0.3
- 0 .8
0.4
0.4
0.3
0 .6
2 .2
2.4
2.1
2 .6
0 .2
2.3
2.5
0.9
3.3
3.4
3.0
51
-5 ./
-7.3
52
53
54
1 .6
2 .6
2 .2
0.4
10.5
3.9
16.7
2.4
25.5
55
56
1 .2
1 .2
1 .8
2 .1
1 .2
5/
58
59
1 .2
2 .2
2 .0
2 .6
2 .6
- 0 .2
-4.4
4.7
7.4
5.3
2 2 .8
7.4
-6.9
4.2
-7.4
60
61
62
1.4
1 .2
1 .8
2 .0
1.5
2.4
1 .8
2 .0
2.5
2.4
3.9
2.7
2.5
3.4
1 .8
2 .6
2 .0
0 .8
63
1.5
2.5
2 .0
4.2
3.4
2 .0
0 .8
2 .8
- 0.1
1.1
1 .2
0.3
3.8
4.3
1.9
2 .0
2.3
2.3
1 .6
1 .8
0 .2
1 .6
1.1
2.7
4.5
4.5
4.2
4.3
4.2
-5.0 -10.4
- 8 .1
-9.2
-6.4
4.1
5.9
42.4
3.5
5.7
15.0
2 .1
0.9
4.2
3.2
-6.5
2.4
2.5
2.7
2.5
1 .8
2 .6
0.4
1.9
1.3
6.1
0.9
2 .8
1 .0
2.7
0.5
6 .0
1.9
29.6 -20.4
0.9
0.4
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classi
fied in food services.
4. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.6.4.
February 2012
S urvey
D-15
C u r r e n t B u s in e s s
of
Table 1.6.8. Contributions to Percent Change in
the Gross Domestic Purchases Price Index
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Percent change at annual rate:
Gross domestic purchases...........
Percentage points at annual rates:
Personal consumption expenditures
Goods...................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods..................
Nondurable goods.........................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
goods ......................................
Other nondurable goods...........
Services..............................................
Household consumption
expenditures...............................
Housing and utilities..................
H ealthcare.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)...............
Gross private domestic investment
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment and software...........
Information processing
equipment and software...
Computers and peripheral
equipment.....................
Software 1 .........................
O ther..................................
Industrial equipment.............
Transportation equipment....
Other equipm ent...................
Residential......................................
Change in private inventories...........
Farm ................................................
Nonfarm...........................................
Government consumption
expenditures and gross
investment..........................................
Federal................................................
National defense.............................
Consumption expenditures.......
Gross investment.......................
Nondefense....................................
Consumption expenditures.......
Gross investment.......................
State and local....................................
Consumption expenditures.......
Gross investment.......................
Addenda:
Final sales of computers to domestic
purchasers 2 ...................................
Gross domestic purchases excluding
final sales of computers to
domestic purchasers.....................
Food 3 ..................................................
Energy goods and services..............
Gross domestic purchases excluding
food and energy............................
Seasonally adjusted at annual rates
Line
2011
I
II
III
1.5
2.5
2.1
4.0
3.3
2.0
0.8
2
1.22
0.35
1.67
0 .8 6
1.34
0.76
-0.18
- 0 .0 1
2.67
1.80
-0.04
0.05
2.26
1.17
0.13
1.60
0.67
-0.04
0 .2 1
0 .1 0
0.48
-0.19
- 0 .2 0
-0.04
3
4
5
- 0 .1 2
0 .1 1
-0.07
0.07
6
-0.07
- 0 .0 2
-0.06
0 .0 0
0.03
0 .0 1
-0.05
7
-0.17
0 .0 2
-0.16
0.04
0 .0 1
9
0.48
-0.15
0.04
0.93
-0.15
0.05
0.94
-0.16
0.05
1.84
-0.13
0.03
1.04
-0.17
8
0.71
0 .0 1
10
11
0 .0 2
0 .2 0
0.04
0.07
-0.06
0.33
- 0 .0 2
0 .0 1
0.32
0.06
0.24
0.27
0.14
0.03
12
0.37
1.38
0.13
0.87
0.53
0.13
1.09
-0.26
0 .1 0
0 .8 6
0.89
0.04
0.57
0 .1 2
13
14
0.60
0.09
0.81
0.07
0.93
0 .1 1
0 .8 8
0.04
0.28
0.04
0.03
0.77
0.17
0.18
0.05
0.04
20
0.06
21
22
0.29
0.16
23
24
25
26
27
28
- 0 .0 2
-0.18
-0.16
-0.15
-0.03
- 0 .1 2
0.46
1.04
0.83
0 .1 0
0 .2 0
0 .2 1
0.14
0.04
0.14
0 .0 1
0.06
0.25
0.07
0.05
0 .1 1
0.04
0.07
0.08
0.04
0.09
0.13
0 .1 2
0 .1 1
0.04
0.26
0.17
0.14
0.05
0.27
0.28
0.24
0.15
0.09
0 .1 2
0 .1 0
0.91
0.29
0.19
0.67
0 .1 0
0.03
0 .2 2
0.19
0 .0 2
0.13
0.05
0.14
0.05
0.14
IV
Gross domestic product............
Plus: Income receipts from the
Less: Income payments to the rest
of the w orld.................................
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
1
3.0
?
8.5
H
4
5
3.7
3.3
6
7
8
9
10
Net domestic product................
Net domestic income 3 .............
Net domestic purchases...........
Gross national product, current
dollars.....................................
II
1.8
9.9
8.9
25.7
-7.3
36.9
1.7
2.3
-17.2
1.5
10.1
2 .0
1.9
2 .2
2 .0
2 .8
2 .8
3.0
3.0
-13.7
1.9
2.5
2.4
3.3
3.3
3.0
2.2
3.4
1.8
0 .2
1 .0
1 .2
- 0 .1
0 .2
0.3
1.7
- 0.1
2 .8
0.9
1 .2
2 .8
4.8
4.5
2.9
2.9
2.9
3.0
2.9
3.6
2.9
2 .8
2 .6
1.6
1.4
1.5
2.4
3.5
1 fi
4.4
0 .8
1.5
IV
1.3
2 .2
2 .8
2 .8
1.7
III
0.4
2 .2
2 .0
13
14
15
1?
I
2.3
1 .0
0 .6
3.6
3.8
3.3
4.0
3.8
11
1.7
2011
2.4
1.3
0.7
0 .1
3.5
4.2
2.2
2.5
0.5
2.8
2.7
2 .6
3.5
3.5
3.7
0 .0 1
- 0 .0 1
0.16
0.15
0.15
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.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product,
and Real Net National Product, Quantity Indexes
[Index numbers, 2005=100]
0.04
0.19
0.15
0 .1 2
0 .1 2
0 .0 1
0 .1 1
0.20
0.09
0.04
0.09
-0.06
0 .1 2
0 .0 1
0.14
0.18
0.17
0.15
0.03
-0.07
-0.06
-0.08
-0.05
-0.06
-0.05
-0.05
30
31
32
33
34
35
36
37
38
39
-0.03
- 0 .0 2
- 0 .0 2
-0.04
-0.05
-0.05
-0.04
0 .0 1
- 0 .0 1
0 .0 0
0 .0 1
0 .0 0
0 .0 0
-0.03
- 0 .0 1
- 0 .0 1
0 .0 1
0.03
-0.03
- 0 .0 2
-0.04
0.03
0.03
-0.04
- 0 .0 2
- 0 .0 1
- 0 .0 1
0 .0 2
0 .0 2
0 .0 2
- 0 .0 1
0.05
0.05
0.04
0.06
0.04
40
41
42
43
44
45
46
4/
48
49
50
0 .0 0
- 0 .0 1
0.45
0.19
0.13
-
0.04
- 0 .0 1
0.05
-
- 0 .0 1
- 0 .0 2
0.03
0.09
- 0 .0 2
- 0 .0 1
- 0 .0 2
0 .1 2
0 .1 1
0 .0 1
0 .1 0
0 .0 2
0 .1 2
0 .0 2
0.06
0.06
0.06
0.06
0.03
0.03
1.05
0.42
0.33
0.30
0.03
0.09
0.09
0 .0 0
0 .0 0
0 .0 0
0 .0 0
0 .0 1
0.26
0.25
0.38
0.32
0.06
0.45
0.40
0.04
0.63
0.57
0.06
0.52
0.43
0.09
0 .1 2
0 .0 0
0 .0 0
0.61
0.23
0.17
0.15
0 .0 1
0.05
0.03
0.61
0.16
0.14
0.81
0.30
0 .2 0
0.18
0 .0 2
0 .1 0
0.09
- 0 .0 1
0.05
0 .0 1
0 .0 2
0 .0 1
0.06
- 0 .0 1
-0.04
- 0 .0 1
-0.03
0 .0 1
0 .0 0
0 .0 0
0.24
0.14
0.08
0.07
0 .0 1
0.06
0.05
0 .0 1
0 .1 0
0 .0 2
0.09
Line
2010
2011
0.17
- 0 .0 1
- 0 .0 2
- 0 .0 1
- 0 .0 1
0 .0 1
0 .0 1
0 .0 0
0.18
2010
IV
0.03
29
0 .0 0
0 .0 2
Seasonally adjusted
0 .1 2
Gross domestic product............
Plus: Income receipts from the
rest of the w orld.........................
Less: Income payments to the rest
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
Net domestic product................
Net domestic purchases...........
1
2011
I
II
III
IV
103.684 105.470 104.699 104.792 105.140 105.614 106.334
? 110.667
114.346 116.799 123.678 121.351
96.962
4 104.253
5 113.828
6 113.414
7 115.675
8 116.311
102.487
105.218
114.672
114.178
116.887
117.532
116.286
115.667
119.086
119.748
97.763
105.598
115.255
114.714
117.689
118.350
100.154
106.164
115.883
115.290
118.560
119.225
96.531
106.665
116.606
115.962
119.527
120.193
117.399
116.702
120.566
121.226
9 112.524 115.804 113.692 114.420 115.267 116.233 117.297
102.929
103.911 104.264 104.821 105.292
10
11
12
102.271 103.967 103.308 103.336 103.647 104.087 104.797
99.513 101.034 100.425 100.547 100.769 101.062 101.756
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[Index numbers, 2005=100]
0 .1 0
0.08
Seasonally adjusted
51
-0.06
-0.08
-0.05
- 0 .1 1
-0.09
- 0 .1 0
Line
-0.07
2010
2011
2010
IV
52
53
54
55
1.55
2 .2 0
0 .1 2
0.37
2.55
0.19
0.64
1 .1 0
1.63
0 .0 2
0.90
4.09
0.29
1.49
3.43
0.28
0.60
1 .1 2
2 .2 0
2.46
2.08
0 .8 8
0 .2 1
0.13
0.14
-0.28
Gross domestic product............
Plus: Income receipts from the
1.64
0.95
Less: Income payments to the rest
of the w orld.................................
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
Net domestic product................
Net domestic purchases...........
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food
services.
2010
0 .6 8
0.24
0.06
0.06
0 .0 2
2011
IV
1
15
16
17
18
19
2010
2011
I
II
III
IV
1 111.000 113.307 111.699 112.390 113.091 113.811 113.935
? 110.831
111.322 112.376 113.337 113.927
a 111.283
4 110.979
5 106.863 108.790
6 105.256 107.012
7 115.248 118.041
8 114.780 117.314
111.751
111.676
107.279
105.647
115.790
115.171
112.852
112.372
107.758
106.061
116.597
115.977
113.722
113.080
108.607
106.875
117.628
116.950
114.271
113.799
109.210
107.400
118.622
117.857
109.585
107.711
119.317
118.472
9 117.637 121.768 118.963 119.770 121.105 122.545 123.652
m 111.610
112.350 113.078 113.765 114.502
11
12
111.642 114.009 112.385 113.110 113.788 114.526 114.611
1 1 2 .1 1 2 114.982 112.752 113.943 114.890 115.444 115.653
D-16
February 2012
National Data
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product,
Net National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Gross domestic product...........
Plus: Income receipts from the
1
?
Less: Income payments to the
rest of the w orld........................
Equals: Gross national product
Less: Consumption of fixed
capital.........................................
Private..........................
Domestic business
Capital
consumption
allowances......
Less: Capital
consumption
adjustment.....
Households and
institutions...........
Government..................
General government
Government
enterprises..........
Equals: Net national product....
Less: Statistical discrepancy...
Equals: National income...........
Less: Corporate profits with
inventory valuation and capital
consumption adjustments........
Taxes on production and
imports less subsidies
Contributions for
government social
insurance, domestic....
Net interest and
miscellaneous
payments on a ssets....
Business current transfer
payments (net)............
Current surplus of
government
enterprises...................
Wage accruals less
disbursements.............
Plus: Personal income receipts on
assets.........................................
Personal current transfer
receipts.........................
Equals: Personal income..........
Addenda:
Net domestic product..............
Net domestic purchases..........
Line
2011
II
I
III
729.4
702.9
752.1
803.2
792.2
7
1,914.3
1,570.5
1,270.1
1,939.9
1,590.5
1,287.8
1,962.8
1,607.6
1,303.2
1,983.0
1,622.5
1,316.7
8
1,442.1
1,622.1
1,709.2
1,607.9
1,616.4
1,626.5
1,637.8
9
196.5
327.7
450.5
337.8
328.6
323.3
321.1
10
11
12
295.2
334.0
278.6
303.3
352.2
293.2
298.4
339.1
282.5
300.4
343.8
286.4
302.7
349.4
291.0
304.4
355.2
295.6
305.8
360.4
299.7
55.4
13
14 12,841.0
15
0.8
1 fi 12,840.1
59.1
57.4
58.4
56.6
59.6
13,043.3 13,180.6 13,334.1 13,480.5
-52.0
24.5
-10.0
49.6
13,018.8 13,232.6 13,344.1 13,430.9
60.7
1,857.4
1,876.4
1,937.6
1,970.1
1,035.2
1,006.4
1,027.3
1,038.5
1,035.8
1,039.0
986.8
920.1
994.1
911.5
917.4
921.2
930.2
20
564.3
535.8
548.7
556.6
525.6
535.7
525.1
21
136.7
134.4
135.7
134.7
133.9
133.7
135.4
18
996.7
19
-15.7
-14.6
-16.5
-15.6
-14.6
-14.5
634.2
655.2
fa
1,754.5
1,464.0
289.8
242.7
1,792.4
1,493.0
298.4
249.9
47.1
11,506.2
48.5
6
7
8
9
10
1,767.5
1,473.8
292.9
245.3
695.4
708.7
1,809.6
1,506.4
302.1
253.0
47.9
48.7
47.6
48.3
11,615.9 11,655.3 11,717.7 11,770.3
49.1
13,087.2
13,194.2
13,260.3
13,361.9
13 11,333.3 11,521.2 11,448.2
14 11,332.5
11,426.3
15 11,746.8 11,926.3 11,854.5
1,776.5
1,480.7
294.9
247.0
13,274.1
13,478.4
11,451.3
11,497.2
1 1 ,8 6 8 .8
1,786.2
1,488.2
297.1
248.8
13,280.6
13,513.0
11,485.7
11,494.5
11,895.1
13,288.0
13,524.3
11,534.5 11,613.1
11,491.2
11,929.6 1 2 ,0 1 1 . 6
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.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
N ote . Except as noted in footnotes 1, 2 and 3, chained (2 0 0 5 ) dollar series are calculated as the product of the chaintype quantity index and the 2 0 0 5 current-dollar value of the corresponding series, divided by 1 00 . 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.
Table 1.8.3. Command-Basis Real Gross Domestic Product
and Gross National Product, Quantity Indexes
[Index num bers, 2005=100]
Seasonally adjusted
2010
2011
2010
IV
23
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
24
1,721.2
1,790.7
1,743.5
1,777.2
1,802.3
1,794.2
1,789.1
25 2,281.2 2,336.0 2,341.2 2,328.1 2,347.3 2,336.6 2,331.9
26 12,373.5 12,961.0 12,577.6 12,846.9 12,955.3 12,979.6 13,062.2
71 14,525.7
14,730.5 14,919.8 15,022.7
?a 14,715.1
14,914.9 15,146.9 15,284.0
13,597.3
13,789.4 14,000.4 14,126.2
30 12,651.6 13,137.8 12,858.9 12,953.5 13,072.9
31 12,650.8
12,834.4 13,005.5 13,082.9
3? 11,722.4
11,893.3 12,086.2 12,186.4
33 13,168.5 13,716.0 13,359.1 13,524.8 13,670.0
669.3
1,797.3
1,496.8
299.5
250.8
1?
Net domestic purchases..........
IV
487.7
465.2
476.6
459.4
13,383.9 13,432.2 13,504.2 13,567.9
11
Net domestic product...............
III
II
2011
-13.9
15,126.5
15,393.8
14,238.7
13,213.2 13,311.3
13,163.6
12,275.9
13,775.6 13,893.4
1. Consists of compensation of employees, proprietors’ income with inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj), rental income of persons with CCAdj, corporate profits with IVA and CCAdj, net interest
and miscellaneous payments, and consumption of fixed capital.
2. Consists of gross national factor income less consumption of fixed capital.
Less: Consumption of fixed
capital.........................................
Private..........................
Government..................
General government
Government
enterprises..........
Equals: Net national product....
Addenda:
2011
I
13,088.0 13,313.4 13,216.1 13,227.9 13,271.8 13,331.6 13,422.4
1
Line
22
2010
3
461.4
4 13,261.0
1,896.1
1,557.0
1,258.7
1,800.1
Gross domestic product...........
Plus: Income receipts from the
rest of the w orld........................
Less: Income payments to the
525.0
542.0
524.9
545.0
14,939.4 15,094.9 15,274.0 15,443.4
1,950.0
1,597.8
1,294.4
1/
2011
IV
1,874.9
1,540.9
1,245.7
6
2010
IV
14,526.5 15,087.7 14,755.0 14,867.8 15,012.8 15,176.1 15,294.3
3
513.5
4 14,715.9
fa
Seasonally adjusted at annual rates
Gross domestic product.............
Less: Exports of goods and
services........................................
Plus: Imports of goods and
services........................................
Equals: Gross domestic
purchases...................................
Plus: Exports of goods and
services, command basis 1........
Less: Imports of goods and
services, command basis 1........
Equals: Command-basis gross
domestic prod uct12................
Plus: Income receipts from the rest
I
III
II
IV
1
103.684 105.470 104.699 104.792 105.140 105.614 106.334
2
127.444 136.112 131.551 134.061 135.240 136.789 138.358
3 102.821 107.934 105.091 107.207 107.573 107.897 109.058
4 101.160 102.784 102.064 102.237 102.504 102.844 103.550
fa 126.506
6
140.087 132.365 137.096 140.081 141.666 141.537
104.292 115.129 107.223 113.153 115.987 115.384 116.100
7 103.269 104.677 104.327 104.104 104.258 104.877 105.481
8
110.065
M
96.827
113.661 116.061 122.933 120.654
Less: Income payments to the rest
Equals: Command-basis gross
national prod uct1’3...................
Addenda:
Command-basis net domestic
product 4 ..................................
Net domestic product..................
Command-basis net national
102.295
99.917
96.293
10
103.816
104.824 104.886 105.262 105.908
11
12
101.834 103.107 102.920 102.594 1 0 2 .6 8 6 103.289 103.868
102.271 103.967 103.308 103.336 103.647 104.087 104.797
13 102.460
14 102.929
Percent change from
preceding period
(seasonally adjusted at
annual rates):
Real gross domestic product
Command-basis gross
domestic product...............
Real gross national product...
Command-basis gross
national product..................
97.585
103.488 103.484 103.826 104.462
103.911 104.264 104.821 105.292
15
3.0
1.7
2.3
0.4
1.3
1 .8
2 .8
16
17
2.7
3.3
1.4
2 .0
-0.9
1.5
0 .6
2 .2
2.4
1.9
2.3
1.7
18
2.9
1.3
0 .2
1.4
2.5
1. Deflator is the gross domestic purchases price index.
2. This measure is called “real gross domestic income” in the System of National Accounts, 2 0 0 8 .
3. This measure is called “real gross national income” in the System of National Accounts, 2 0 0 8 .
4. Deflator is the net domestic purchases price index.
February 2012
S urvey
of
D-17
C u r r e n t B u s in e s s
Table 1.8.6. Command-Basis Real Gross Domestic Product and Gross National Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
13,088.0
1,663.2
2,085.0
13,500.4
1,651.0
2,114.8
13,035.6
630.7
460.8
13,205.5
13,313.4
1,776.3
2,188.7
13,717.2
1,828.2
2,334.6
13,213.3
13,216.1
1,716.8
2,131.0
13,621.2
1,727.2
2,173.6
13,168.5
651.0
486.4
13,333.0
13,227.9
1,749.6
2,173.9
13,644.2
1,788.9
2,293.9
13,140.3
664.7
464.0
13,341.0
13,271.8
1,765.0
2,181.4
13,679.9
1,827.9
2,351.3
13,159.7
704.1
475.1
13,388.7
13,331.6
1,785.2
2,187.9
13,725.3
1,848.6
2,339.1
13,237.8
691.0
457.9
13,470.9
13,422.4
1,805.6
2,211.5
13,819.5
1,846.9
2,353.6
13,314.1
11,284.8
11,333.3
11,453.7
11,506.2
11,425.9
11,521.2
11,404.6
11,448.2
11,568.2
11,615.9
11,368.5
11,451.3
11,567.8
11,655.3
11,378.6
11,485.7
11,606.0
11,717.7
11,445.5
11,534.5
11,677.1
11,770.3
11,509.7
11,613.1
13
14
15
16
17
18
99.607
97.864
97.409
103.493
99.230
96.528
96.209
107.237
99.688
98.675
98.784
105.430
99.331
96.947
96.835
106.745
99.132
96.122
95.907
107.733
99.275
96.903
96.601
107.708
99.184
96.150
95.512
106.754
2011
IV
Gross domestic product...............................................................................................................
Less: Exports of goods and services............................................................................................
Plus: Imports of goods and services.............................................................................................
Equals: Gross domestic purchases..........................................................................................
Plus: Exports of goods and services, command basis 1 ............................................................
Less: Imports of goods and services, command basis 1 ...........................................................
Equals: Command-basis gross domestic prod uct12...........................................................
Plus: Income receipts from the rest of the world, command basis 1 ........................................
Less: Income payments to the rest of the world, command basis 1 ..........................................
Equals: Command-basis gross national prod uct1’3.............................................................
Addenda:
Command-basis net domestic p roduct 4 ..................................................................................
Net domestic product..................................................................................................................
Command-basis net national product 4 ....................................................................................
Net national product....................................................................................................................
Trade indexes (seasonally adjusted):
Trading gains index 5...............................................................................................................
Terms of trade index 6 ............................................................................................................
Terms of trade, g oods 7 ......................................................................................................
Terms of trade, nonpetroleum goods 8.............................................................................
1
2
3
4
5
6
7
fi
q
m
11
12
1. Uses gross domestic purchases price index as deflator.
2. This measure is called “real gross domestic income" in the System of National Accounts, 2008.
3. This measure is called “real gross national income” in the System of National Accounts, 2008.
4. Uses net domestic purchases price index as deflator.
5. Ratio (multiplied by 100) of price index for gross domestic product to the price index for gross
domestic purchases.
I
II
III
IV
6 . Ratio (multiplied by 100) of the price index for exports of goods and services to the price index for
imports of goods and services.
7. Ratio (multiplied by 100) of the price index for goods exports to the price index for goods imports.
8 . Ratio (multiplied by 100) of the price index for goods exports to the price index for nonpetroleum
goods imports.
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Gross domestic incom e......................................................................................................
Compensation of employees, paid............................................................................................
Wage and salary accruals
Disbursements........
To persons..........
To the rest of the world
Wage accruals less disbursements.......................................................................................
Supplements to wages and salaries.........................................................................................
Taxes on production and imports..............................................................................................
Less: Subsidies.
Net operating surplus
Private enterprises
Net interest and miscellaneous payments, domestic industries.......................................
Business current transfer payments (net)............................................................................
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,
domestic industries............................................................................................................
Taxes on corporate income...............................................................................................
Profits after tax with inventory valuation and capital consumption adjustments........
Net dividends..................................................................................................................
Undistributed corporate profits with inventory valuation and capital consumption
adjustments...............................................................................................................
Current surplus of government enterprises
Consumption of fixed capital..............
Private....................................................
Government.................................................................................................................................
Addendum:
Statistical discrepancy................................................................................................................
1
2
3
4
5
fi
14,525.7
7,980.6
6,417.5
6,417.5
6,403.0
14.5
8,251.4
6,645.3
6,645.3
I
14,730.5
8,059.9
6,486.2
6,486.2
6,471.8
14.4
II
14,919.8
8,181.5
6,587.2
6,587.2
6,572.7
14.4
III
15,022.7
8,228.7
6,626.0
6,626.0
6,611.6
14.4
IV
15,126.5
8,258.9
6,650.9
6,650.9
6,636.5
14.4
8,336.4
6,717.0
6,717.0
7
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
8
1,606.1
1,098.3
63.1
1,573.7
1,065.5
59.1
3,768.1
3,784.6
728.0
135.7
1,081.5
354.8
1,594.4
1,087.4
60.0
3,796.7
3,812.2
731.3
134.7
1,095.6
385.0
1,602.7
1,101.1
62.7
3,815.7
3,830.3
700.8
133.9
1,106.5
396.9
1,608.1
1,100.0
64.2
3,868.9
3,883.3
710.3
133.7
1,113.7
406.3
1,619.4
1,104.6
65.6
13
14
15
16
1,563.1
1,054.0
57.3
3,673.5
3,689.2
747.6
136.7
1,036.4
350.2
17
18
iq
?n
1,418.2
411.1
1,007.1
615.3
1,484.5
404.7
1,079.8
659.8
1,465.7
422.3
1,043.3
644.2
1,492.2
420.5
1,071.7
664.1
1,519 3
411.4
1,107.9
610.6
V1
22
391.8
-15.7
1,874.9
1,540.9
334.0
420.0
-16.5
1,896.1
1,557.0
339.1
399.2
-15.6
1,914.3
1,570.5
343.8
407.6
-14.6
1,939.9
1,590.5
349.4
497.3
-14.5
1,962.8
1,607.6
355.2
24.5
-52.0
9
10
11
1?
23
24
25
0 .8
134.4
1,107.8
404.2
-14.6
1,950.0
1,597.8
352.2
-
1 0 .0
49.6
135.4
1,115.5
428.6
-13.9
1,983.0
1,622.5
360.4
February 2012
National Data
D-18
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
1
Compensation of employees
Wage and salary accruals
Government.................
Other.............................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance fu n d s................................
Employer contributions for government social insurance.......
Proprietors’ income with IVA and CCAdj..............................................................
Farm...............................................
Nonfarm.........................................
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Profits after tax with IVA and CCAdj..........................................................................................
Net dividends...........................
Net interest and miscellaneous paym ents..............................................................................
Taxes on production and imports..............................................................................................
Less: Subsidies..............................................................................................................................
Business current transfer payments (nel)
To persons (net).........................................
To government (net)..................................
To the rest of the world (ne t)....................
Current surplus of government enterprises
Addenda for corporate cash flow:
Consumption of fixed capital..................................................................................................
Addenda:
Proprietors’ income with IVA and CCAdj..................................................................................
Farm..........................................................................................................................................
Proprietors’ income with IVA.............................................................................................
Capital consumption adjustment.......................................................................................
Nonfarm ....................................
Proprietors’ income (without IVA and CCAdj).................................................................
Inventory valuation adjustment.........................................................................................
Capital consumption adjustment.......................................................................................
Rental income of persons with CCAdj.......................................................................................
Rental income of persons (without CCAdj)..........................................................................
Capital consumption adjustment
Corporate profits with IVA and CCAdj.......................................................................................
Net dividends..............
Capital consumption adjustment...........................................................................................
IVA inventory valuation adjustment
CCAdj Capital consumption adjustment
2
3
4
5
6
7
8
9
10
11
12
13
14
1 *S
16
17
18
19
20
21
22
23
24
25
12,840.1
7,971.4
6,408.2
1,190.8
5,217.4
1,563.1
1,089.9
473.2
1,036.4
52.2
984.2
350.2
1,800.1
411.1
1,389.1
737.3
651.7
564.3
1,054.0
57.3
136.7
38.3
99.0
- 0 .6
-15.7
W
?7
28
1,699.0
651.7
1,027.1
- 2 0 .2
30
31
32
33
34
35
36
3/
38
39
40
41
4?
4T
44
45
46
47
48
49
1,036.4
52.2
58.0
-5.8
984.2
793.0
- 6 .0
197.2
350.2
364.9
-14.7
1,800.1
1,780.4
1,819.5
411.1
1,408.4
737.3
671.1
-39.1
19.7
8,242.4
6,636.3
1,190.3
5,446.0
1,606.1
1 ,1 1 1 .0
495.1
1,107.8
64.9
1,042.9
404.2
814.6
535.8
1,098.3
63.1
134.4
39.5
99.6
-4.7
-14.6
1,068.7
1,107.8
64.9
70.9
- 6 .0
1,042.9
810.0
-9.0
241.9
404.2
419.0
-14.8
814.6
106.6
13,018.8
8,050.8
6,477.0
1,188.6
5,288.4
1,573.7
1,096.8
476.9
1,081.5
60.1
1,021.4
354.8
1,857.4
404.7
1,452.7
774.8
677.9
548.7
1,065.5
59.1
135.7
39.3
2011
I
II
III
-3.7
-16.5
1,029.5
385.0
1,876.4
422.3
1,454.1
793.8
660.3
556.6
1,087.4
60.0
134.7
39.5
99.1
-3.8
-15.6
13,344.1
8,219.7
6,617.1
1,191.9
5,425.2
1,602.7
1,108.7
494.0
1,106.5
67.3
1,039.2
396.9
1,937.6
420.5
1,517.1
807.4
709.6
525.6
1 ,1 0 1 .1
62.7
133.9
39.4
99.0
-4.5
-14.6
13,430.9
8,250.0
6,641.9
1,189.3
5,452.6
1,608.1
1 , 1 1 2 .6
495.5
1,113.7
67.5
1,046.2
406.3
1,970.1
411.4
1,558.7
821.4
737.3
535.7
1 ,1 0 0 .0
64.2
133.7
39.4
99.3
-5.1
-14.5
1,704.9
677.9
1,038.3
11.3
1,726.0
660.3
1,048.0
-17.7
1,812.2
709.6
1,063.1
-39.4
1,848.0
737.3
1,076.2
-34.5
1,081.5
60.1
65.9
-5.8
1,021.4
771.3
-15.8
265.8
354.8
369.6
-14.7
1,857.4
1,652.2
1,742.5
404.7
1,337.8
774.8
563.0
-90.3
205.2
1,095.6
1,106.5
67.3
73.3
- 6 .0
1,039.2
804.1
-7.0
242.1
396.9
411.8
-14.8
1,937.6
1,830.2
1,890.6
420.5
1,470.1
807.4
662.7
-60.4
107.3
1,113.7
67.5
73.5
- 6 .0
1,046.2
811.0
-6.3
241.4
406.3
421.2
-14.8
1,970.1
1,867.4
1,912.9
411.4
1,501.5
821.4
680.1
-45.5
102.7
1 0 0 .1
13,232.6
8,172.5
6,578.2
1,191.1
5,387.1
1,594.4
1,103.0
491.4
1,095.6
6 6 .1
6 6 .1
71.9
-5.9
1,029.5
804.2
-17.8
243.1
385.0
399.7
-14.8
1,876.4
1,761.1
1,877.1
422.3
1,454.8
793.8
660.9
-116.0
115.4
IV
8,327.4
6,708.0
1,188.9
5,519.1
1,619.4
1,119.7
499.7
1,115.5
58.7
1,056.8
428.6
835.6
525.1
1,104.6
65.6
135.4
39.6
1 0 1 .1
-5.3
-13.9
1,087.6
1,115.5
58.7
64.7
- 6 .0
1,056.8
820.6
-4.9
241.1
428.6
443.4
-14.8
835.6
1 0 0 .8
February 2012
S urvey
of
D-19
C u r r e n t B u s in e s s
Table 1.14. Gross Value Added of Domestic Corporate Business in Current Dollars and Gross Value Added of Nonfinancial
Domestic Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2011
2010
IV
G ross value added o f corporate business 1 ........................
Consumption of fixed capital...............................................................
Net value added................
Compensation of employees
Wage and salary accruals
Supplements to wages and salaries..........................................
Taxes on production and imports less subsidies..........................
Net operating surplus.......................................................................
Net interest and miscellaneous payments................................
Business current transfer payments (net).................................
Corporate profits with IVA and CCAdj.......................................
Taxes on corporate income
Profits after tax with IVA and CCAd|......................................
Net dividends...,
Undistributed profits with IVA and CCAdj.........................
G ross value added o f financial corporate business 1 ......
Gross value added o f nonfinancial corporate business \
Consumption of fixed capital...............................................................
Net value added................
Compensation of employees
Wage and salary accruals
Supplements to wages and salaries.........................................
Taxes on production and imports less subsidies..........................
Net operating surplus....
Net interest and miscellaneous payments................................
Business current transfer payments (net).................................
Corporate profits with IVA and CCAdj.......................................
Taxes on corporate income....................................................
Profits after tax with IVA and CCAdj......................................
Net dividends.......................................................................
Undistributed profits with IVA and CCAdj.........................
Addenda:
Corporate business:
Profits before tax (without IVA and CCAdj)..............................
Profits after tax (without IVA and CCAdj)..................................
Undistributed profits after tax (without IVA and CC A dj)..........
Inventory valuation adjustment..................................................
Capital consumption adjustment................................................
Nonfinancial corporate business:
Profits before tax (without IVA and CCAdj)..............................
Profits after tax (without IVA and CCAdj).................................
Inventory valuation adjustment.................................................
Capital consumption adjustment...............................................
8.218.4
1.027.1
7.191.4
4.821.5
3.973.6
848.0
660.2
1.709.6
192.7
98.8
1.418.2
411.1
1.007.1
615.3
391.8
1.316.4
6.902.0
856.8
6.045.2
4.263.0
3.513.4
749.6
614.3
1,167.8
130.9
85.4
951.5
229.3
722.3
398.8
323.5
Gross value added o f nonfinancial corporate business 2
Consumption of fixed c a p ita l 3 ..............................................
Net value added 4 ...................................................................
6,329.5
805.4
5,524.1
1.437.5
1.026.5
411.2
-39.1
19.7
942.8
713.5
-39.1
47.8
8.359.3
1.038.3
7.321.0
4.879.8
4.027.5
852.3
666.3
1.774.9
193.6
96.8
1.484.5
404.7
1.079.8
659.8
420.0
1.392.8
6.966.5
865.4
6 101.1
4.315.9
3.562.4
753.4
620.7
1.164.6
106.5
85.5
972.6
212.4
760.2
432.3
327.9
8.451.8
1.048.0
7.403.8
4.967.7
4.102.4
865.4
680.2
1.755.9
194.0
96.2
1.465.7
422.3
1.043.3
644.2
399.2
1.373.5
7.078.3
873.4
6.205.0
4.386.5
3.621.5
765.0
633.2
1.185.3
106.6
86.3
992.3
238.5
753.8
422.0
331.8
8,525.7
1.063.1
7.462.6
5,000.5
4.131.3
869.2
687.8
1.774.3
186.6
95.4
1.492.2
420.5
1.071.7
664.1
407.6
1.309.2
7.216.5
885.4
6.331.1
4.426.3
3,657.9
768.4
641.2
1.263.6
103.0
87.5
1.073.1
252.2
821.0
459.2
361.7
8,592.3
1,076.2
7.516.1
5.024.5
4.152.2
872.3
687.8
1.803.8
189.3
95.3
1.519.3
411.4
1.107.9
610.6
497.3
1.322.4
7.269.9
896.3
6.373.6
4.450.5
3,679.4
771.1
640.9
1,282.1
104.5
86.7
1,091.0
250.1
840.9
434.0
406.9
106.6
1,369.7
964.9
305.1
-90.3
205.2
1,466.3
1,044.0
399.8
-116.0
115.4
1.445.2
1,024.7
360.6
-60.4
107.3
1,462.1
1,050.7
440.1
-45.5
102.7
100.S
126.3
848.9
636.5
-90.3
214.1
974.8
736.3
-116.0
133.6
1.006.3
754.1
-60.4
127.2
1,013.4
763.3
-45.5
123.1
121.4
1,068.7
5,018.3
4,147.1
871.1
686.7
95.9
890.1
4.440.7
3.670.7
770.1
639.8
87.1
.
1,087.6
5,080.3
4,202.7
877.6
690.9
96.6
905.5
4,499.7
3,723.9
775.8
644.0
87.9
Value-added, in billions of chained (2005) dollars
825.3
6,338.4
811.3
5,527.1
6,407.9
816.3
5,591.6
6,504.1
821.7
5,682.3
6,491.6
828.1
5,663.5
835.2
1. Estimates for financial corporate business and nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are
based on the North American Industry Classification System (NAICS).
2. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available,
the chain-type price index for GDP goods and structures is used.
3. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided by
100.
4. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross product and the consumption of fixed capital.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2010
2011
2011
2010
IV
Price per unit of real gross value added of nonfinancial corporate business 1.......................
Compensation of employees (unit labor cost).................................................................................
Unit nonlabor c o s t...................................................................................................................................
Consumption of fixed capital................................................................................................................
Taxes on production and imports less subsidies plus business current transfer payments (net)
Net interest and miscellaneous paym ents.........................................................................................
Corporate profits with IVA and CCAdj (unit profits from current production)..........................
Taxes on corporate income..................................................................................................................
Profits after tax with IVA and CCAdj....................................................................................................
1.090
0.674
0.267
0.135
0.111
0.021
0.150
0.036
0.114
1.099
0.681
0.265
0.137
1.105
0.685
0.265
0.136
0.111
0.112
0.112
0.017
0.153
0.034
0.017
0.155
0.037
0.118
0.016
0.165
0.039
0.126
0.120
1.110
0.681
0.264
0.136
1.120
0.686
0.266
0.138
0.112
0.016
0.168
0.039
0.130
1. The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System (NAICS).
N o t e .The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not avail
able, the chain-type price index for GDP goods and structures is used.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
February 2012
National Data
D-20
2. Personal Incom e and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2010
2011
2010
12,961.0
8,242.4
6,636.3
5,446.0
1,190.3
1,606.1
1 , 1 1 1 .0
495.1
1,107.8
64.9
1,042.9
404.2
1,790.7
997.8
792.9
2,336.0
2,296.5
713.5
554.3
423.5
107.2
63.4
434.7
39.5
920.1
1,404.8
11,556.2
11,050.9
10,722.6
157.0
171.3
97.6
73.8
505.3
4.4
12,577.6
8,050.8
6,477.0
5,288.4
1,188.6
1,573.7
1,096.8
476.9
1,081.5
60.1
1,021.4
354.8
1,743.5
989.6
753.9
2,341.2
2,301.9
699.9
535.3
439.8
128.7
59.4
438.7
39.3
994.1
1,240.9
11,336.7
10,748.6
10,417.1
162.7
168.9
96.5
72.5
588.1
5.2
12,846.9
8,172.5
6,578.2
5,387.1
1,191.1
1,594.4
1,103.0
491.4
1,095.6
23
24
25
26
27
28
29
30
31
32
33
34
35
12,373.5
7,971.4
6,408.2
5,217.4
1,190.8
1,563.1
1,089.9
473.2
1,036.4
52.2
984.2
350.2
1,721.2
1,003.4
717.7
2,281.2
2,242.9
690.2
518.4
405.4
138.7
57.9
432.4
38.3
986.8
1,193.9
11,179.7
10,586.9
10,245.5
173.4
168.0
95.1
72.9
592.8
5.3
36
9,083.0
9,335.4
IV
Personal income......................................................................................................................................
Compensation of employees, received
Wage and salary disbursements
Private industries..................
Government..........................
Supplements to wages and salaries
Employer contributions for employee pension and insurance funds....................................
Employer contributions for government social insurance.......................................................
Proprietors’ income with inventory valuation and capital consumption adjustments...................
Farm...................................................................................................................................................
Nonfarm ............................................................................................................................................
Rental income of persons with capital consumption adjustment....................................................
Personal income receipts on assets..................................
Personal interest income.................................................................................................................
Personal dividend income
Personal current transfer receipts
Government social benefits to persons.........................................................................................
Social security 1 .......
Medicare 2 ...............
Medicaid....................
Unemployment insurance
Veterans’ benefits....
O ther.........................
Other current transfer receipts, from business (net)....................................................................
Less: Contributions for government social insurance, dom estic....................................................
Less: Personal current taxes...............................................................................................................
Equals: Disposable personal income
Less: Personal outlays...................
Personal consumption expenditures
Personal interest payments 3 ......
Personal current transfer payments...................................................................................................
To government..................................................................................................................................
To the rest of the world (net)..........................................................................................................
Equals: Personal saving........................................................................................................................
Personal saving as a percentage of disposable personal income.........................................
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005) d ollars4
Disposable personal income:
Total, billions of chained (2005) dollars 4 ......................................................................................
Per capita:
Current dollars.............................................................................................................................
Chained (2005) dollars................................................................................................................
Population (midperiod, thousands)....................................................................................................
Percent change from preceding period:
Disposable personal income, current dollars.........................................................................
Disposable personal income, chained (2005) dollars...........................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
I
II
III
IV
1,029.5
385.0
1,777.2
1,004.7
772.5
2,328.1
2,288.6
703.1
547.8
432.1
117.5
61.3
426.9
39.5
911.5
1,365.9
11,481.0
10,902.1
10,571.7
160.3
170.1
96.6
73.5
578.9
5.0
12,955.3
8,219.7
6,617.1
5,425.2
1,191.9
1,602.7
1,108.7
494.0
1,106.5
67.3
1,039.2
396.9
1,802.3
1,015.9
786.4
2,347.3
2,307.9
712.2
553.9
437.4
108.8
62.8
432.7
39.4
917.4
1,396.2
11,559.2
11,002.6
10,676.0
155.9
170.7
97.1
73.5
556.5
4.8
12,979.6
8,250.0
6,641.9
5,452.6
1,189.3
1,608.1
1 , 1 1 2 .6
495.5
1,113.7
67.5
1,046.2
406.3
1,794.2
994.8
799.4
2,336.6
2,297.2
716.3
557.8
416.4
103.0
65.0
438.6
39.4
921.2
1,408.5
11,571.1
11,114.6
10,784.5
158.4
171.6
97.8
73.8
456.5
3.9
13,062.2
8,327.4
6,708.0
5,519.1
1,188.9
1,619.4
1,119.7
499.7
1,115.5
58.7
1,056.8
428.6
1,789.1
975.7
813.4
2,331.9
2,292.3
722.3
557.9
408.0
99.3
64.3
440.5
39.6
930.2
1,448.5
11,613.8
11,184.5
10,858.1
153.4
173.0
98.8
74.2
429.3
3.7
9,166.7
9,329.8
9,332.9
9,309.7
9,369.8
6 6 .1
37
10,061.6
10,153.5
10,152.0
10,183.2
10,169.7
1 0 ,1 2 1 . 6
10,141.2
38
39
40
36,090
32,481
309,774
37,035
32,539
312,040
36,491
32,678
310,670
36,895
32,724
311,184
37,082
32,625
311,717
37,048
32,407
312,330
37,113
32,407
312,930
41
42
3.6
1.8
3.4
0.9
3.5
1.5
5.2
1.2
2.8
-0.5
0.4
-1.9
1.5
0.8
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
Table 2.2B. Wage and Salary Disbursements by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Wage and salary disbursements................................................................................................
Private industries...............
Goods-producing industries
Manufacturing..............
Services-producing industries
Trade, transportation, and utilities..................................................................................................
Other services-producing industries 1 ..........................................................................................
Government..............................................................................................................................................
1
2
3
4
5
6
7
8
6,408.2
5,217.4
1,059.2
674.2
4,158.2
1,006.0
3,152.2
1,190.8
6,636.3
5,446.0
1,100.7
702.5
4,345.3
1,045.1
3,300.2
1,190.3
6,477.0
5,288.4
1,070.8
685.5
4,217.6
1,016.1
3,201.5
1,188.6
2011
I
6,578.2
5,387.1
1,092.3
700.4
4,294.7
1,034.4
3,260.3
1,191.1
II
6,617.1
5,425.2
1,096.9
700.4
4,328.3
1,043.1
3,285.1
1,191.9
III
6,641.9
5,452.6
1,100.9
701.6
4,351.7
1,043.4
3,308.3
1,189.3
IV
6,708.0
5,519.1
1,112.7
707.7
4,406.4
1,059.4
3,347.0
1,188.9
1. Other services-producing industries consists of information; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; management of companies and enterprises,
administrative and support and waste management and remediation services; educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other
services.
N o t e . Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
February 2012
Survey
of
D-21
C u r r e n t B u s in e s s
Table 2.3.1. Percent Change From Preceding Period in Real Personal Consumption Expenditures by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Personal consumption expenditures (PC E ).....................................................................
Goods..................................................................................................................................................
Durable goods..............
Motor vehicles and parts
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles
Other durable goods
Nondurable goods........
Food and beverages purchased tor oft-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods
Other nondurable goods.....
Services.........................................
Household consumption expenditures (tor services)................................................................
Housing and utilities..................................................................................................................
Health care...............
Transportation services............................................................................................................
Recreation services.
Food services and accommodations......................................................................................
Financial services and insurance
Other services..........
Final consumption expenditures of nonprofit institutions serving households (NPISHs) '
Gross output of nonprofit institutions 2 ...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ...............................................................................................
Energy goods and services 5 .......................................................................................................
Market-based PCE 6 .....................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
2.0
4.3
7.2
2.3
2.2
3.8
3
4
5
8.1
6
12.3
7
6.1
8
2.9
2.4
5.8
5.4
11.9
5.2
1.7
1
2
9
10
11
12
0.1
3.4
0.9
0.9
0.9
1.4
13
14
15
16
17
18
19
20
21
22
1 .6
3.0
-4.2
4.2
1.4
1.5
0.1
2 .0
1 .2
0.5
3.2
3.9
1.5
0.3
1 .2
1.1
-0.4
1.9
1 .2
2 .2
1.7
3.1
-
23
24
25
26
27
28
3.6
8.3
17.2
37.1
8.9
11.4
4.5
4.3
4.8
12.4
-5.9
5.2
1.3
1.7
-0.7
4.3
8.1
8 .0
0 .8
2 .0
2 .0
2 .6
1.7
2.3
2.3
-3.1
2.3
2.9
I
-
II
2.1
4.7
11.7
15.8
3.5
15.3
8.5
III
0.7
-1.6
-5.3
-25.5
3.1
8.9
1 .6
0 .8
3.1
-
- 6 .0
5.3
0.8
0 .8
-1.5
0 .6
-0.5
- 2 .0
6.9
4.3
0 .1
1 .2
3.6
1 .0
3.0
-7.8
3.6
7.6
4.1
-5.8
4.2
5.0
IV
-
1.7
1.4
5.7
2.0
5.7
14.8
37.7
1 .6
6.1
0 .2
1 .2
2 .2
8 .0
5.6
8 .6
1 2 .1
2 .6
9.8
-7.0
1.7
-0.5
- 0.1
-7.8
-1.5
1.9
3.0
-0.5
3.5
0.2
1 .6
2 .8
-3.1
2.7
1.9
1.9
0.7
2 .6
2 .8
0 .2
- 0 .6
0.3
7.5
9.2
0 .2
1.1
2 .6
1.3
1.5
3.5
- 0 .8
9.7
-0.3
-3.4
0 .2
0 .6
0 .8
-1.7
-2.5
1.4
1.5
3.0
- 8 .8
1 .0
1 .6
-4.1
5.9
2 .2
0 .6
3.2
0.9
1 .8
1 .6
0 .0
1.1
0.4
2.5
6.3
-3.0
1.5
4.9
2 .2
1.3
3.1
-
1 0 .1
2 .1
3.4
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2011
2010
2011
2010
I
IV
Percent change at annual rate:
Personal consumption expenditures (PC E ).....................................................................
Percentage points at annual rates:
Goods..................................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................................................................................................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................................................
Transportation services.............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations......................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs ) 1
Gross output of nonprofit institutions 2 ...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ...............................................................................................
Energy goods and services 5 .......................................................................................................
Market-based PCE 6 .....................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
1
2.0
2.2
3.6
2
7
0 .1 0
8
0.65
0.18
0.18
1.24
0.85
0.27
0.13
0.37
0.09
0.39
2.68
1.72
1.09
6
1.39
0.74
0.08
0.19
0.38
3
4
5
9
10
11
12
13
14
15
16
17
18
19
20
21
22
0 .0 0
0.28
0.64
0.61
0.16
0.23
0 .0 2
0.07
0.19
-0.09
0.03
0.03
0 .1 2
0 .1 0
0 .2 0
0.35
0.08
0.96
0.36
0.39
-0.17
0.35
0.93
0.94
- 0 .2 1
0.43
0.88
0 .0 2
0.33
-0.13
0.70
1 .1 0
0 .0 1
0 .1 2
-0.04
0.25
0 .2 2
0 .1 2
0 .1 0
- 0 .0 1
0.08
0.27
0 .0 0
II
III
2.1
0.7
1.7
2.0
1.57
-0.54
-0.59
-1.03
0.07
0.27
1.89
1.51
1.14
0.05
0.09
0.07
-0.33
0.47
0.60
0.06
0.13
0.37
0.05
-0.13
- 0 .0 1
-0.27
-0.06
0 .2 2
0 .2 1
1.22
1.27
1.03
0.49
1.21
0.53
0.08
0.46
0.14
0.36
0.06
0 .1 0
-0.23
0.43
0.52
0.50
-0.27
0.09
- 0 .0 1
-0.07
0.42
0.32
0 .1 0
1 .2 0
0.13
0.45
- 0 .0 1
0.33
0.07
0 .1 0
0.13
0 .0 2
0.18
- 0 .2 2
0.39
0.61
0 .0 2
0 .0 2
0.13
0.14
-0.19
- 0 .2 1
0.15
0.13
1.76
0.09
2.03
1.76
2.24
-0.19
2.06
2.14
3.55
-0.34
3.71
3.70
2.57
-0.54
1.90
2.38
0.85
-0.26
0.53
0.70
23
24
0 .2 1
25
26
27
28
IV
- 0 .1 0
0 .0 1
0.27
0.17
0.26
-0.07
0.25
-0.03
-0.28
1.40
0.35
1.55
1 .2 1
0 .2 0
0.30
-0.13
0.38
0 .0 1
0 .1 0
- 0 .0 2
0.29
0.15
0 .0 2
-0.56
0.18
0 .0 1
0 .1 0
0.39
- 0 .2 2
0.13
0.13
0.24
0 .1 1
2 .6 8
-0.65
1.85
2.48
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
D-22
February 2012
National Data
Table 2.3.3. Real Personal Consumption Expenditures by Major Type of Product, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Personal consumption expenditures (P C E ).....................................................................
Goods....................................
Durable goods...................
Motor vehicles and parts...........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.......................................................
Nondurable goods................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods.................................
Other nondurable goods................................................
Services..............................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care....................
Transportation services
Recreation services..................................................................................................................
Food services and accommodations......................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs) 1
Gross output of nonprofit institutions 2 ...................................................................................
Less; Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ...............................................................................................
Energy goods and services 5 .......................................................................................................
Market-based PCE 6 .....................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
2011
I
II
III
23
24
107.015
108.944
114.345
87.331
104.934
164.395
115.556
106.328
106.062
111.859
88.665
113.227
106.087
105.132
105.567
112.453
87.922
107.380
107.283
97.079
103.064
131.681
114.463
109.019
105.962
107.452
110.600
86.951
102.203
152.979
112.106
105.839
105.629
111.477
91.657
110.625
105.250
104.345
105.664
111.719
87.999
105.018
104.542
95.583
102.732
129.390
114.560
109.765
106.511
108.700
113.710
90.207
103.088
158.516
114.425
106.249
105.834
112.335
90.250
112.061
105.453
104.548
105.274
111.877
87.898
104.487
106.309
96.600
102.794
129.577
114.062
109.083
106.693
108.272
112.180
83.810
103.869
161.925
116.129
106.306
106.151
112.949
88.396
112.808
105.941
105.043
105.464
112.655
87.858
106.816
106.592
96.923
103.175
129.829
114.447
109.502
88.061
113.523
106.449
105.466
106.183
112.483
87.922
108.767
107.288
97.761
102.956
132.863
114.357
108.565
107.699
110.157
117.746
91.156
107.483
170.532
114.785
106.596
106.153
111.487
87.953
114.515
106.506
105.472
105.347
112.796
88.009
109.449
108.943
97.031
103.331
134.456
114.985
108.928
25
26
27
28
105.369
96.132
105.126
105.928
108.102
93.169
107.591
108.963
106.689
96.040
106.525
107.474
107.477
93.858
107.096
108.328
107.741
92.877
107.256
108.581
108.176
94.212
107.726
109.020
109.011
91.727
108.286
109.924
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
107.156
108.646
113.747
84.149
105.298
166.608
116.886
106.160
106.113
IV
104.741
105.006
105.782
80.859
99.542
146.932
109.810
104.501
104.440
108.594
92.582
108.633
104.628
103.607
105.474
110.235
87.488
104.025
103.207
95.619
101.882
132.264
113.146
107.201
1
1 1 0 .6 6 6
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major Type of Product
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Personal consumption expenditures (PC E).....................................................................
Goods...........................................................................
Durable goods.........................................................
Motor vehicles and parts...................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................
Nondurable goods.........................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
Services..............................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................
Transportation services............
Recreation services.................
Food services and accommodations.....................................................................................
Financial services and insurance
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs) 1
Gross output of nonprofit institutions 2 ...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ...............................................................................................
Energy goods and services 5 ...................
Market-based PCE 6 ......................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
2011
I
II
III
IV
23
24
111.112
104.837
91.348
103.050
93.732
71.744
110.924
112.748
113.853
98.033
125.907
112.788
114.465
115.126
113.417
115.561
118.111
112.049
115.787
116.833
116.385
100.071
113.103
118.068
113.815
108.750
90.437
106.156
92.336
66.917
114.264
119.569
118.352
99.727
158.700
114.585
116.493
117.140
114.993
117.461
121.380
113.917
118.718
118.672
118.696
102.394
115.593
120.624
111.673
105.367
90.507
103.467
92.148
69.865
111.883
114.092
114.306
97.485
134.334
113.170
115.037
115.665
113.689
116.287
118.634
112.467
116.488
117.252
117.193
101.342
113.989
118.809
112.747
107.412
90.362
104.039
92.169
68.628
113.178
117.463
116.117
97.639
153.235
113.784
115.574
116.203
114.142
116.653
120.208
113.123
116.939
117.947
117.771
101.854
114.672
119.557
113.666
108.752
90.745
106.251
92.542
67.580
113.957
119.383
117.922
98.281
160.678
114.434
116.260
116.892
114.637
117.301
121.232
113.706
118.423
118.646
118.310
102.474
115.429
120.366
114.324
109.530
90.628
107.374
92.637
66.317
114.497
120.707
119.287
101.331
162.387
114.798
116.852
117.503
115.309
117.811
121.533
114.087
119.697
118.917
118.995
102.665
116.007
121.093
114.524
109.304
90.015
106.957
91.995
65.142
115.422
120.723
120.081
101.659
158.499
115.326
117.286
117.962
115.884
118.081
122.545
114.753
119.813
119.180
119.709
102.583
116.262
121.479
25
26
27
28
110.208
121.746
110.857
109.763
111.790
141.352
113.646
111.273
110.534
126.436
111.394
110.025
110.963
137.711
112.498
110.391
111.585
142.620
113.478
111.038
112.156
143.780
114.200
111.670
112.454
141.297
114.408
111.993
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
February
2012
S urvey
of
D-23
C u r r e n t B u s in e s s
Table 2.3.5. Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Personal consumption expenditures (PC E ).....................................................................
Goods...................................................................................
Durable goods..................................................................
Motor vehicles and parts............................................
Furnishings and durable household equipment......
Recreational goods and vehicles.............................
Other durable goods..................................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods.....
Services........................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care...............
Transportation services
Recreation services.
Food services and accommodations.....................................................................................
Financial services and insurance............................................................................................
Other services..........
Final consumption expenditures of nonprofit institutions serving households (NPISHs ) 1
Gross output of nonprofit institutions 2 ...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ...............................................................................................
Energy goods and services 5 .......................................................................................................
Market-based PCE 6 .....................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
2011
I
II
III
IV
23
24
10,245.5
3,387.0
1,085.5
340.1
243.8
329.8
171.8
2,301.5
766.4
334.3
354.1
846.7
6,858.5
6,578.3
1,893.2
1,667.4
295.5
382.6
638.0
780.2
921.4
280.2
1,118.9
838.6
10,722.6
3,645.2
1,161.9
378.3
253.2
344.1
186.2
2,483.3
809.0
350.3
427.4
896.6
7,077.4
6,791.9
1,921.2
1,728.8
305.2
401.5
680.0
804.6
950.6
285.5
1,156.7
871.2
10,417.1
3,483.4
1,124.7
367.1
246.1
334.5
176.9
2,358.7
778.2
341.3
374.1
865.2
6,933.7
6,656.0
1,901.1
1,700.4
298.5
387.7
650.1
782.7
935.5
277.6
1,141.6
864.0
10,571.7
3,592.2
1,154.5
383.0
248.3
340.5
182.7
2,437.8
792.0
344.5
420.2
881.1
6,979.4
6,700.0
1,901.7
1,708.1
302.1
387.9
663.7
795.7
940.7
279.4
1,143.5
864.0
10,676.0
3,622.7
1,143.8
363.4
251.2
342.5
186.7
2,478.9
806.7
348.6
431.5
892.1
7,053.3
6,771.6
1,913.3
1,729.5
304.6
398.6
673.9
803.1
948.5
281.7
1,154.9
873.2
10,784.5
3,661.2
1,158.3
368.7
254.9
345.8
188.8
2,503.0
815.8
352.2
434.5
900.6
7,123.2
6,834.4
1,937.7
1,734.4
305.6
407.3
685.6
811.9
952.0
288.8
1,159.8
871.0
10,858.1
3,704.5
1,190.9
397.9
258.4
347.7
186.9
2,513.6
821.5
355.9
423.5
912.6
7,153.6
6,861.5
1,932.0
1,743.2
308.4
412.2
696.9
807.6
961.2
292.0
1,168.7
876.7
25
26
27
28
8,901.3
577.9
9,015.5
7,671.6
9,263.2
650.3
9,459.1
8 ,0 0 0 .1
9,039.3
599.6
9,179.5
7,802.1
9,141.4
638.3
9,320.2
7,890.2
9,215.2
654.1
9,415.5
7,955.0
9,299.8
668.9
9,516.9
8,032.6
9,396.5
640.0
9,583.8
8 , 1 2 2 .6
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.6. Real Personal Consumption Expenditures by Major Type of Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Personal consumption expenditures (PC E ).....................................................................
Goods................................
Durable goods..............
Motor vehicles and parts
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................................................................................................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods
Other nondurable goods..........................................................................................................
Services.......................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care...............
Transportation services
Recreation services.
Food services and accommodations......................................................................................
Financial services and insurance............................................................................................
Other services..........
Final consumption expenditures of nonprofit institutions serving households (NPISHs ) 1
Gross output of nonprofit institutions 2 ...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Residual...............................................................................................................................................
Addenda:
PCE excluding food and energy 4 ................................................................................................
Energy goods and services 5 ...........................
Market-based PCE 6 ..........................................
Market-based PCE excluding food and energy 6
2011
III
IV
23
24
25
9,220.9
3,230.7
1,188.3
330.1
260.1
459.6
154.9
2,041.3
673.1
341.0
281.3
750.7
5,991.8
5,714.0
1,669.2
1,442.9
250.2
341.4
551.0
667.8
791.7
280.0
989.2
710.3
-23.0
9,421.1
3,351.9
1,284.5
356.5
274.2
514.3
163.0
2,077.0
683.6
351.3
269.4
782.5
6,075.4
5,798.1
1,670.7
1,471.9
251.4
352.5
572.8
678.0
800.9
278.8
1,000.7
722.4
-50.2
9,328.4
3,306.0
1,242.4
354.9
267.0
478.5
158.1
2,067.4
680.8
350.1
278.4
764.5
6,027.5
5,754.7
1,672.2
1,462.3
251.6
344.7
558.2
667.6
798.3
273.9
1 ,0 0 1 . 6
727.3
-33.1
9,376.7
3,344.4
1,277.4
368.2
269.3
495.9
161.4
2,075.4
682.1
352.8
274.2
774.4
6,039.1
5,765.9
1 ,6 6 6 .0
1,464.3
251.4
343.0
567.6
674.7
798.8
274.3
997.2
722.8
-41.8
9,392.7
3,331.2
1,260.2
342.1
271.4
506.5
163.8
2,076.6
684.1
354.7
268.5
779.6
6,067.0
5,793.2
1,669.1
1,474.5
251.2
350.6
569.1
676.9
801.8
274.9
1 ,0 0 0 .6
725.5
-46.3
9,433.5
3,342.7
1,277.8
343.5
275.1
521.2
164.9
2,073.7
683.9
347.5
267.5
784.5
6,096.1
5,816.6
1,680.4
1,472.3
251.4
357.0
572.8
682.8
800.1
281.3
999.8
719.3
-51.9
9,481.3
3,389.2
1,322.7
372.1
280.8
533.5
161.9
2,082.2
684.1
350.1
267.2
791.4
6,099.4
5,816.9
1,667.2
1,476.4
251.7
359.2
581.7
677.7
803.0
284.7
1,005.3
721.7
-60.3
26
27
28
29
8,076.8
474.6
8,132.6
6,989.3
8,286.3
460.0
8,323.3
7,189.5
8,178.0
474.2
8,240.8
7,091.3
8,238.4
463.4
8,285.0
7,147.7
8,258.7
458.6
8,297.4
7,164.3
8,292.0
465.2
8,333.7
7,193.3
8,356.0
452.9
8,377.1
7,252.9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
1 . Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the
1
II
rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
N o t e . Chained (2005) dollar series are calculated as the product ol the chain-type quantity index and the 2005 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.
D-24
National Data
February 2012
Table 2.3.7. Percent Change from Preceding Period in Prices for Personal Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Personal consumption expenditures (PC E ).....................................................................
Goods..................................................................................................................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles
Other durable goods................
Nondurable goods.........................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods...........................................................................................................
S ervices..............................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care....................
Transportation services
Recreation services....
Food services and accommodations......................................................................................
Financial services and insurance
Other services..............
Final consumption expenditures of nonprofit institutions serving households (N P IS H s)'
Gross output of nonprofit institutions 2 ....................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Addenda:
PCE excluding food and energy 4 ................................................................................................
Energy goods and services 5 .......................................................................................................
Market-based PCE 6 ......................................................................................................................
Market-based PCE excluding food and energy 6 ......................................................................
1
2
3
4
5
6
7
8
9
10
11
12
1.8
1.6
-1.7
5.0
-4.2
-7.3
0.5
3.2
0.3
-0.7
18.2
13
14
1b
16
17
18
19
20
21
22
23
24
25
26
27
28
II
- 1 .0
3.0
-1.5
-6.7
3.0
1.9
3.4
-2.4
-0.3
-4.0
-6.5
4.0
6 .0
6 .2
4.0
1.7
26.0
1.4
-2.9
45.3
1 .8
1 .6
0 .6
2 .2
1.9
1.8
1.7
1.4
1.2
1.9
1.9
2 .0
0.3
2.5
2.1
1.1
1.4
5.6
2.5
-
2.4
3.7
I
1.1
1 .8
2 .8
1.4
10.3
1.5
1 .0
1 .6
2 .8
1.7
2.5
1 .6
2 .0
1 .0
0 .8
1.3
3.9
8.0
- 0 .6
III
3.3
5.1
1.7
2 .2
0.1
8 .8
1 .6
-6.9
4.7
12.4
6.5
- 6 .0
0 .6
69.3
1 .6
2 .8
6.7
6.4
2.7
20.9
2.3
2.4
2.4
1.7
2 .2
0.3
1.3
5.4
2.4
1 .0
0 .8
1 .6
2.4
5.2
2.4
2 .0
1.4
2.3
6 .0
2 .2
2 .2
2.3
1.4
16.1
2.5
1.4
0.7
24.7
1.1
1 .8
0.3
2 .0
2 .0
2.4
2.5
1 .6
40.7
4.0
1.3
3.5
2.1
1 .8
2.5
2.7
2.7
2.3
15.0
3.5
2.4
IV
2.3
2.9
-0.5
4.3
0.4
-7.3
1.9
4.5
4.7
13.0
4.3
1.3
2.1
2.1
2.4
1 .8
1 .0
1.3
4.4
0.9
2.3
0.7
2 .0
2.4
0.7
-0.8
-2.7
-1.5
-2.7
-6.9
3.3
0.1
2.7
1.3
-9.2
1.9
1.5
1 .6
2 .0
0.9
3.4
2.4
0.4
0.9
2.4
-0.3
0.9
1.3
2.1
1.1
3.3
2 .6
-6.7
0.7
2.3
1 .2
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6 . Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
February
2012
S urvey
of
D-25
C u r r e n t B u s in e s s
3. Governm ent Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2010
2011
2011
IV
Current receipts...................................... ....................
.....................................
Current tax receipts.......................
................................... ...........
Personal current taxes.............
Taxes on production and imports
Taxes on corporate income.....
Taxes from the rest of the world
Contributions for government social insurance.....................................................
Income receipts on assets.......................
Interest and miscellaneous receipts....
Dividends......................................................................................................................................
Current transfer receipts..................................................................................................................
From business (net)....................................................................................................................
From persons...............................................................................................................................
Current surplus of government enterprises..................................................................................
Current expenditures...........................................................................................................
Consumption expenditures
Current transfer payments
Government social benefits
To persons................
To the rest of the woild
Other current transfer payments to the rest of the world (net)..............................................
Interest payments.............................................................................................................................
To persons and business............................................................................................................
To the rest of the world................................................................................................................
Subsidies...........................................................................................................................................
Less: Wage accruals less disbursements....................................................................................
Net government saving.......................................................................................................
Social insurance funds....................................................................................................................
O ther..................................................................................................................................................
Addenda:
Total receipts..............................................................................................................................
......................................
Current receipts.............................................. ...........
Capital transfer receipts
Total expenditures....
Current expenditures
Gross government investment
Capital transfer payments
Net purchases of nonproduced a ssets................................................................................
Less: Consumption of fixed capital......................................................................................
Net lending or net borrowing ( - ) ............................................................................................
1
?
3
4
S
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3,962.8
2,648.7
1,193.9
1,054.0
387.4
13.3
991.7
144.0
124.4
19.6
194.1
99.0
95.1
-15.7
5,261.8
2,497.5
2,316.8
2,259.5
2,242.9
16.6
57.3
390.2
254.1
136.1
57.3
1,404.8
1,098.3
15.9
924.6
145.2
123.5
2 1 .6
197.2
99.6
97.6
-14.6
5,409.8
2,547.5
2,370.8
2,313.3
2,296.5
16.8
57.5
428.5
I
4,025.0
2,700.6
1,240.9
1,065.5
380.2
13.9
999.0
145.4
124.5
20.9
196.6
1 0 0 .1
II
III
IV
4,106.0
2,864.7
1,365.9
1,087.4
397.2
14.3
915.9
145.2
123.8
21.4
195.7
99.1
96.6
-15.6
5,364.3
2,530.7
2,361.8
2,305.0
2,288.6
16.4
56.8
411.7
276.3
135.4
60.0
4,154.4
2,907.0
1,396.2
1 ,1 0 1 .1
394.4
15.3
921.9
144.0
123.0
4,163.3
2,909.9
1,408.5
1 , 1 0 0 .0
384.3
17.0
925.7
145.1
123.1
2 1 .0
2 2 .0
2 2 .2
196.1
99.0
97.1
-14.6
5,470.0
2,560.4
2,389.6
2,324.7
2,307.9
16.8
64.9
457.4
322.0
135.4
62.7
197.1
99.3
97.8
-14.5
5,418.9
2,561.0
2,370.0
2,314.2
2,297.2
17.1
55.8
423.7
287.7
136.0
64.2
199.9
1,448.5
1,104.6
16.8
934.7
146.3
124.1
1 0 1 .1
?3
?4
25
26
71
28
?9
63.1
96.5
-16.5
5,347.8
2,509.7
2,376.4
2,318.3
2,301.9
16.4
58.1
402.6
267.2
135.4
59.1
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
-1,299.0
-292.2
-1,006.8
-285.5
-1,322.8
-302.5
-1,020.3
-1,258.3
-286.9
-971.4
-1,315.6
-288.1
-1,027.5
-1,255.6
-286.9
-968.7
-280.2
30
31
32
33
34
35
36
37
38
39
3,982.5
3,962.8
19.7
5,538.8
5,261.8
505.3
90.9
14.8
334.0
-1,556.3
4,034.7
4,025.0
9.7
5,589.5
5,347.8
510.5
55.4
14.9
339.1
-1,554.9
4,112.3
4,106.0
6.3
5,578.8
5,364.3
483.6
59.2
15.5
343.8
-1,466.5
4,164.8
4,154.4
10.4
5,700.2
5,470.0
478.2
4,169.5
4,163.3
9.8
5,635.3
5,409.8
482.3
80.0
15.5
352.2
20
21
22
8 6 .2
15.3
349.4
-1,535.4
6 .2
5,641.9
5,418.9
486.3
76.8
15.0
355.2
-1,472.4
98.8
-13.9
5,386.2
2,537.7
2,361.7
2,309.1
2,292.3
16.8
52.6
421.2
65.6
16.4
5,620.4
5,386.2
480.9
97.7
16.0
360.4
D-26
National Data
February 2012
Table 3.2. Federal Government Current Receipts and Expenditures
Table 3.3. State and Local Government Current Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Current receipts..........
Current tax receipts..............
Personal current taxes.....
Taxes on production and
im ports..........................
Excise taxes..................
Customs duties.............
Taxes on corporate
income...........................
Federal Reserve banks
O th er..............................
Taxes from the rest of the
world...............................
Contributions for government
social insurance.................
Income receipts on assets....
Interest receipts.................
Dividends............................
Rents and royalties...........
Current transfer receipts.......
From business...................
From persons....................
Current surplus of
government enterprises....
Current expenditures
Consumption expenditures...
Current transfer payments....
Government social
benefits..........................
To persons.....................
To the rest of the world
Other current transfer
payments.......................
Grants-in-aid to state
and local
governments.............
To the rest of the world
(net)...........................
Interest payments.................
To persons and business
To the rest of the w orld....
Subsidies................................
Less: Wage accruals less
disbursements...................
Net federal
government saving
Social insurance funds.........
O th er.......................................
Addenda:
Total receipts...................
Capital transfer receipts
Total expenditures..........
Current expenditures....
Gross government
investment................
Capital transfer
payments...................
Net purchases of
nonproduced assets
Less: Consumption of
fixed capital..............
Net lending or net
borrowing ( - ) ...............
1
?
3
4
5
6
7
2010
20
21
22
I
II
III
IV
2,554.1
1,532.7
1,065.4
2,571.8
1,546.5
1,082.7
1,108.6
101.5
72.9
28.6
110.9
79.2
31.7
101.9
73.1
28.8
106.7
76.5
30.2
1 1 2 .0
80.0
32.0
112.3
79.5
32.8
112.5
80.8
31.7
329.1
87.4
241.7
345.4
91.3
254.1
340.0
84.4
255.6
334.5
69.8
264.7
13.9
14.3
15.3
17.0
970.9
53.1
29.9
17.0
15.9
977.9
55.0
30.0
18.2
6 .8
894.6
54.6
29.7
18.5
6.4
2 1 .0
902.9
55.5
30.4
18.5
6.5
67.6
47.7
19.8
69.7
48.8
20.9
-4.8
3,703.3
1,054.0
2,313.7
-1.4
3,753.6
1,072.5
2,306.1
-4.9
3,757.8
1,059.6
2,350.7
6 .2
69.7
48.7
16.8
47.8
20.3
900.3
54.9
30.6
18.0
6.3
67.4
47.5
19.9
904.0
55.5
30.2
18.7
6.5
66.9
47.3
19.6
912.9
56.9
31.0
18.9
6.9
67.9
48.4
19.5
-2.7
3,729.0
1,059.1
2,312.7
- 1 .2
3,829.5
1,077.5
2,346.9
- 1.1
3,744.2
1,084.9
2,289.0
- 0 .8
3,711.8
1,068.5
2,275.9
6 8 .1
23
24
25
1,724.9
1,708.3
16.6
1,756.1
1,739.4
16.8
1,747.7
1,731.3
16.4
1,741.5
1,725.1
16.4
1,754.3
1,737.5
16.8
1,762.6
1,745.6
17.1
1,766.1
1,749.4
16.8
26
588.8
550.0
602.9
571.2
592.6
526.3
509.8
27
531.5
492.5
544.9
514.5
527.7
470.6
457.1
28
29
30
31
32
57.3
279.9
143.7
136.1
55.8
57.5
312.4
56.8
298.0
162.7
135.4
59.2
64.9
342.8
207.5
135.4
62.2
55.8
306.6
170.6
136.0
63.8
52.6
302.3
62.6
58.1
289.4
154.0
135.4
58.2
33
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
34 -1,273.7
35
-294.1
3fi
-979.5
-287.9
-1,287.3 -1,201.1 -1,275.4 -1,172.4
-289.2
-289.2
-304.6
-290.5
-984.9
-982.6
-911.9
-883.1
65.1
........
-282.5
37
38
39
40
41
2,444.6
2,429.6
15.0
3,906.9
3,703.3
5.1
3,927.2
3,753.6
2,475.5
2,470.5
5.0
3,934.7
3,757.8
2,529.4
2,527.9
1.5
3,882.2
3,729.0
2,559.7
2,554.1
5.7
4,009.1
3,829.5
2,573.3
2,571.8
1.5
3,919.7
3,744.2
3,897.8
3,711.8
42
168.8
160.2
174.7
160.9
159.6
164.0
156.5
43
164.6
151.3
134.4
126.7
157.0
151.3
170.3
44
0 .2
- 0.1
0.1
0.3
- 0 .2
- 0 .6
0 .2
4b
130.0
137.9
132.3
134.6
136.8
139.2
141.0
46 -1,462.3
-1,459.2 -1,352.8 -1,449.4 -1,346.4
2010
2011
2010
IV
2,527.9
1,513.3
1,046.8
13.3
19
IV
2,470.5
1,372.8
927.8
10
12
13
14
15
16
17
18
Seasonally adjusted at annual rates
Line
2011
1,075.9
329.6
79.3
250.3
11
2010
2,429.6
1,340.7
896.4
q
8
2011
1 1 .8
Current receipts.......................
Current tax receipts............................
Personal current taxes...................
Income taxes..............................
Other............................................
Taxes on production and imports
Sales taxes.................................
Property taxes...........................
Other............................................
Taxes on corporate income...........
Contributions for government social
insurance.........................................
Income receipts on assets................
Interest receipts..............................
Dividends.........................................
Rents and royalties........................
Current transfer receipts....................
Federal grants-in-aid......................
From business (net).......................
From persons..................................
Current surplus of government
enterprises......................................
Current expenditures.............
Consumption expenditures...............
Government social benefit payments
to persons........................................
Interest paym ents...............................
Subsidies.............................................
Less: Wage accruals less
disbursements................................
Net state and local
government saving.............
Social insurance funds.......................
Other.....................................................
Addenda:
Current receipts.........................
Capital transfer receipts............
Total expenditures.......................
Current expenditures................
Gross government investment
Capital transfer payments.........
Net purchases of nonproduced
assets.....................................
Less: Consumption of fixed
capital.....................................
Net lending or net borrowing (-)
1 2,064.7
? 1,307.9
3
297.5
4
266.9
5
30.6
6
952.6
7
438.3
8
430.6
9
83.6
10
57.9
11
12
13
14
15
16
17
18
19
20
21
22
328.9
296.9
32.0
987.4
457.8
435.9
93.7
2 1 .6
2 1 .1
90.9
75.0
89.7
72.4
3.1
14.2
622.1
492.5
51.9
77.7
90.3
73.9
2.7
13.8
671.8
544.9
51.4
75.6
2 .6
II
III
IV
2,099.3 2,092.5 2,128.0 2,062.1
1,327.8 1,351.4 1,374.2 1,363.4
313.1
319.0
330.8
325.8
281.9
287.7
299.1
293.7
31.1
31.3
31.7
32.1
963.6
980.7
989.1
987.8
447.0
453.1
459.9
458.5
433.4
434.3
435.1
435.7
83.2
93.3
94.0
93.5
51.1
51.7
54.4
49.8
2 0 .8
13.4
655.9
531.5
50.3
74.1
2011
I
21.3
90.6
73.8
2.9
13.9
642.1
514.5
51.3
76.3
2 1 .6
89.1
72.0
3.0
14.1
656.4
527.7
51.5
77.2
21.7
89.6
72.0
3.3
14.3
600.8
470.6
52.0
78.2
339.9
307.1
32.8
992.1
459.6
438.4
94.0
2 1 .8
89.5
71.6
3.3
14.6
589.1
457.1
52.7
79.3
- 1 0 .8
-13.2
- 1 1 .6
-13.4
-13.2
-12.9
-13.3
2,090.0 2,148.7 2,134.8 2,149.7 2,168.2 2,145.3 2,131.5
1,443.5 1,475.0 1,450.1 1,471.7 1,482.9 1,476.1 1,469.2
23
24
25
534.6
110.4
557.1
116.1
0.5
570.6
113.2
1 .6
1 .0
563.6
113.7
0.9
570.4
114.5
0.4
551.6
117.1
0.4
542.9
118.9
0.5
26
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
27
28
?9
-25.3
1.9
-27.3
-35.5
-57.2
2.3
-83.2
2.4
-85.6
30
31
32
33
34
35
36
2.1
2 .2
-37.6
-59.5
-40.2
2.4
-42.5
2,143.0
2,183.0
2,064.7
2,099.3
78.3
76.1
83.7
2,237.0 2,272.0 2,278.7
2,090.0 2,148.7 2,134.8
336.5
322.0
335.9
2,164.8
2,092.5
72.3
2,278.5
2,149.7
322.8
2,203.7
2,128.0
75.7
2,289.7
2,168.2
318.6
.......
2.3
2,141.3
2,062.1
79.2
77.2
2,267.3 2,252.4
2,145.3 2,131.5
324.4
322.3
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
3/
14.5
15.5
14.8
15.2
15.5
15.7
15.8
38
39
204.0
-94.0
214.3
206.8
-95.7
209.2
-113.7
2 1 2 .6
216.1
-125.9
219.4
-86.0
February 2012
Survey
of
D-27
C u r r e n t B u s in e s s
Table 3.9.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and Gross Investment
Table 3.9.2. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2010
I
IV
Government consumption
expenditures and gross
investm ent..........................
Consumption expenditures 1
Gross investm ent 2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense..................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local.................................
Consumption expenditures..........
Gross investment..........................
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
0.7
0.9
-0.3
-3.4
4.9
4.5
4.0
7.8
14.1
6.3
3.3
3.0
5.1
1.3
5.8
7.1
6 .2
14.3
32.0
7.7
- 1 .8
-1.3
-3.9
-5.2
2 .0
- 2.1
- 1 .2
-6.9
-9.9
-2.4
- 2 .0
- 1 .2
-6.7
-
1 2 .6
-5.2
-2.4
- 1.1
-9.9
-16.9
-8.7
- 1 .2
-1.5
0.5
- 8 .0
4.5
-2.3
- 1 .2
-7.0
-9.6
3.7
- 2 .8
- 2 .6
-3.7
- 1 0 .8
8 .0
-3.0
-4.6
7.5
-4.5
10.7
-5.9
- 8 .0
7.9
-13.8
12.3
3.1
2 .6
6.5
6.3
6.5
-2.7
- 1.1
-9.0
-
1 1 .6
2.5
Seasonally adjusted at annual rates
Line
2011
II
-5.9
-2.4
- 2 1 .6
-21.9
- 2 1 .1
-9.4
-5.6
-30.0
-30.2
-29.9
- 1 2 .6
-7.3
-39.1
-41.3
-38.8
-2.7
-2.4
-5.3
-17.3
0 .8
-3.4
0 .0
-16.9
-20.7
0.3
- 0.1
-0.7
3.3
- 0 .6
9.2
2 .6
1.9
3.1
-5.5
-20.3
- 1 .6
7.0
9.1
-5.8
-27.7
-1.7
-7.6
- 8 .0
-5.0
-12.9
- 1 .2
- 2 .8
-1.4
-8.9
-13.6
11.3
2011
IV
III
-0.9
0.5
-7.8
-14.4
2010
2 .1
1 .0
9.3
6.5
1 0 .0
5.0
4.0
11.9
47.2
7.0
-3.8
-4.9
4.2
- 2 2 .2
17.8
- 1 .6
- 2 .0
0.4
-1.4
7.7
-4.6
-4.1
-6.9
-7.5
- 6 .0
-7.3
-5.8
-16.8
-43.0
-9.5
-12.5
-11.5
-19.0
-52.9
- 1 1 .8
4.2
6 .8
- 1 2 .1
-31.0
-3.5
- 2 .6
-2.9
-1.5
- 2 .2
0.9
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Percent change at annual rate:
Government consumption
expenditures and gross
investment...........................
Percentage points at annual
rates:
Consumption expenditures 1
Gross investm ent2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.........................
Consumption expenditures......
Gross investment......................
Structures.............................
Equipment and software.....
Nondefense..................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
2010
2011
IV
I
II
III
IV
1
0.7
- 2.1
- 2 .8
-5.9
-0.9
- 0 .1
-4.6
2
0.72
-0.05
-0.36
0.32
1.77
1.36
0.41
0.14
0.27
0.87
0.67
0.19
-0.98
-1.16
- 1 .0 0
-0.16
-0.80
-0.43
-0.37
-0.14
-0.23
-0.64
-0.26
-0.38
- 0 .1 0
-0.29
-0.16
-0.17
-2.16
-0.63
-1.16
0.52
- 1 .2 2
-1.64
0.42
-0.05
0.47
-1.64
-1.94
0.31
-0.09
0.39
0.42
0.30
0 .0 1
0 .1 1
0.04
0.08
-1.58
-0.53
-1.05
- 1 .1 0
0.05
0.40
-1.29
-1.46
0.17
0.78
1.08
-0.30
-0.23
-0.07
1.84
2.05
- 0 .2 1
-0.16
-0.05
-1.07
-0.98
-0.09
-0.07
- 0 .0 1
-1.67
- 0 .6 8
-0.99
-1.23
0.24
-0.61
0.52
-0.06
0.58
0.83
0.36
0.47
0.06
0.41
1.34
0.94
0.40
0.19
-0.04
0.05
-1.34
-0.56
-0.79
- 0 .8 6
0.08
-1.95
-3.91
-2.38
-1.54
-3.90
-1.96
-1.93
-0.39
-1.54
-3.54
-1.70
-1.84
-0.28
-1.55
-0.36
-0.27
-0.09
- 0 .1 0
-3.46
- 1 .1 1
-0.71
-0.40
-3.02
-2.07
-0.95
-0.53
-0.42
-3.59
-2.85
-0.73
-0.36
-0.38
0.57
0.79
- 0 .2 2
-0.18
-0.04
-1.55
-1.40
-0.15
-0.18
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
0 .0 1
0.19
0.90
0 .6 8
0 .2 2
0.13
0.09
-1.09
-0.63
-0.46
-0.50
0.04
0 .0 1
-1.97
0 .0 1
-1.98
-1.99
0 .0 1
0 .2 1
-0.51
-0.58
0.07
-0.13
0 .2 0
-0.93
-0.97
0.05
- 0 .1 2
0.17
0 .0 2
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Table 3.9.3. Real Government Consumption Expenditures
and Gross Investment, Quantity Indexes
Table 3.9.4. Price Indexes for Government Consumption Expenditures
and Gross Investment
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
Line
2010
2011
2010
IV
Government consumption
expenditures and gross
investm ent..........................
Consumption expenditures 1
Gross investm ent 2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense..................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local.................................
Consumption expenditures..........
Gross investment..........................
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
107.886
107.503
109.830
96.714
135.731
122.782
119.664
145.395
181.121
138.556
121.942
118.281
148.516
197.867
142.225
124.508
122.522
139.013
165.804
129.540
99.557
100.080
97.424
91.269
130.229
105.577
106.236
102.217
87.132
132.527
120.363
118.207
135.620
158.306
131.287
119.076
116.976
133.810
164.365
129.888
123.004
120.731
139.731
152.536
135.412
97.308
98.928
90.566
82.527
134.988
107.691
107.171
110.322
95.930
138.954
123.197
119.542
149.880
185.309
143.097
121.846
117.569
153.045
198.767
147.206
125.985
123.619
143.408
172.884
132.968
99.020
99.619
96.575
90.174
130.906
Line
2011
I
106.076
106.518
103.821
90.194
130.943
120.195
117.823
137.113
169.380
130.935
117.822
115.377
135.186
173.987
130.227
125.111
122.882
141.478
164.872
133.247
98.177
99.615
92.202
85.085
130.990
II
105.837
106.643
101.728
86.756
131.798
120.769
118.724
135.172
160.028
130.414
119.841
117.923
133.174
160.421
129.662
122.665
120.354
139.686
159.299
132.837
97.488
99.268
90.069
82.022
134.541
III
105.812
106.449
102.564
86.623
134.722
121.385
119.024
138.209
162.562
133.549
121.311
119.087
136.957
176.700
131.877
121.494
118.853
141.125
149.610
138.396
97.107
98.773
90.168
81.724
137.050
104.582
105.333
100.754
84.956
132.647
119.101
117.255
131.987
141.254
130.251
117.332
115.515
129.923
146.354
127.787
122.745
120.833
136.635
136.365
137.169
96.461
98.054
89.826
81.277
137.372
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2010
2011
IV
2010
IV
Government consumption
expenditures and gross
investment...........................
Consumption expenditures 1
Gross investm ent 2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
National defense.........................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
Nondefense..................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
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
117.445
117.458
117.366
127.674
101.738
113.653
115.012
105.119
117.961
103.026
114.046
115.292
106.262
117.415
105.114
112.860
114.438
102.616
118.705
97.766
119.704
119.000
122.674
128.562
99.364
121.093
121.238
120.375
132.281
102.799
116.878
118.472
106.972
121.557
104.530
117.593
119.059
108.549
120.782
107.254
115.456
117.307
103.569
122.582
97.696
123.646
123.014
126.308
133.289
99.552
118.341
118.396
118.059
128.863
101.801
114.331
115.738
105.520
118.923
103.310
114.802
116.097
106.751
118.166
105.564
113.380
115.011
102.824
119.925
97.614
120.757
120.098
123.520
129.777
98.982
2011
I
II
119.910 121.146
1 2 0 .1 2 2 121.386
118.839 119.930
129.878 131.429
102.280 102.811
115.827 116.902
117.373 118.508
106.214 106.919
119.857 121.023
103.957 104.570
116.576 117.672
118.016 119.152
107.694 108.545
119.290 120.443
106.484 107.295
114.333 115.367
116.092 117.227
103.003 103.423
120.672 121.854
97.581 97.732
122.372 123.721
1 2 1 .8 8 8 123.246
124.337 125.636
130.800 132.397
99.135 99.514
III
IV
121.523
121.637
120.969
133.048
103.173
117.413
119.019
107.433
122.065
104.979
118.119
119.584
109.084
121.135
107.815
116.011
117.901
103.886
123.241
97.885
123.997
123.299
126.971
134.089
99.789
121.794
121.808
121.765
134.771
102.930
117.372
118.990
107.321
123.285
104.613
118.005
119.485
108.874
122.262
107.420
116.115
118.009
103.964
124.559
97.584
124.494
123.622
128.287
135.871
99.768
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
February 2012
National Data
D-28
Table 3.9.5. Government Consumption Expenditures
and Gross Investment
Table 3.10.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and General Government Gross Output
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2010
2011
IV
Government consumption
expenditures and gross
investm ent..........................
Consumption expenditures 1
Gross investm ent 2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense..................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
State and local.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and so ftw are ........
I
3,002.8 3,029.7 3,020.2
2,497.5 2,547.5 2,509.7
3
505.3
482.3
510.5
4
304.3
284.0
304.7
2 0 1 .0
198.3
205.9
5
6 1,222.8 1,232.7 1,234.3
7 1,054.0 1,072.5 1,059.6
174.7
168.8
160.2
8
33.6
30.2
34.6
9
135.2
130.0
140.1
10
11
819.2
824.8
823.9
12
702.1
717.0
702.7
117.1
107.8
1 2 1 .2
13
14
17.5
17.3
14.8
103.7
15
99.8
93.0
403.6
407.9
410.3
16
17
355.5
356.9
351.9
51.7
52.5
53.5
18
15.4
17.1
19
16.3
20
35.4
37.0
36.3
21
1,780.0 1,797.0 1,786.0
2 2 1,443.5 1,475.0 1,450.1
23
336.5
322.0
335.9
24
253.8
270.0
270.8
65.7
68.3
65.8
25
1
2
Line
2011
2010
II
3,014.4
2,530.7
483.6
288.7
194.9
1,219.9
1,059.1
160.9
31.9
129.0
809.0
701.0
108.0
15.5
92.6
410.9
358.1
52.8
16.4
36.4
1,794.4
1,471.7
322.8
256.8
3,038.6
2,560.4
478.2
281.0
197.2
1,237.1
1,077.5
159.6
30.4
129.2
830.6
723.4
107.3
14.4
92.9
406.5
354.1
52.4
16.0
36.3
1,801.5
1,482.9
318.6
250.6
6 6 .0
6 8 .0
3,047.3
2,561.0
486.3
284.1
202.3
1,248.9
1,084.9
164.0
31.2
132.8
844.0
733.2
110.9
15.9
94.9
404.9
351.7
53.1
15.2
37.9
1,798.5
1,476.1
322.3
252.9
69.5
3,018.6
2,537.7
480.9
282.2
198.7
1,225.0
1,068.5
156.5
27.4
129.1
815.6
710.6
105.0
13.3
91.6
409.4
357.9
51.5
14.0
37.5
1,793.7
1,469.2
324.4
254.8
69.6
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Table 3.9.6. Real Government Consumption Expenditures
and Gross Investment, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
IV
Government consumption
expenditures and gross
investment..........................
Consumption expenditures 1
Gross investm ent 2 ..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense..................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software..........
R esidual.............................................
2011
2010
I
2,556.8 2,502.0 2,552.1 2,513.9
2,126.3 2 , 1 0 1 .2 2,119.7 2,106.8
400.7
430.6
432.5
407.0
238.4
214.8
236.4
222.3
192.9
2 0 2 .2
190.6
197.5
6 1,075.9 1,054.7 1,079.6 1,053.3
902.3
7
916.4
905.3
915.5
149.8
165.6
151.5
8
160.6
29.1
9
28.5
24.9
26.6
124.1
131.3
124.4
135.6
10
717.7
11
718.3
701.4
694.0
12
609.0
602.2
605.3
594.0
1 1 0 .2
113.6
100.3
13
99.3
14.7
1 2 .2
13.0
14
14.8
94.9
86.7
86.9
15
98.3
357.7
359.4
16
353.3
361.9
308.4
17
307.5
303.0
310.3
50.4
50.7
18
52.0
51.3
13.7
14.3
13.6
19
1 2 .6
37.2
20
36.3
37.9
37.3
21
1,487.0 1,453.4 1,478.9 1,466.4
22
1,213.0 1,199.0 1,207.4 1,207.4
271.9
259.6
23
274.3
255.0
24
2 1 0 .6
190.4
208.1
196.3
6 6 .2
6 8 .6
66.5
66.5
25
26
-9.1
- 1 0 .6
- 10.1
-9.5
1
2
3
4
5
II
III
IV
2,508.2 2,507.6 2,478.5
2,109.3 2,105.4 2,083.3
398.8
402.1
395.0
213.8
213.5
209.4
191.8
196.1
193.1
1,058.3 1,063.7 1,043.7
909.2
911.5
898.0
152.7
149.3
145.8
25.2
25.6
2 2 .2
126.5
123.4
123.6
691.1
705.9
714.6
607.1
613.1
594.7
96.4
98.8
1 0 1 .6
1 2 .0
13.2
10.9
85.3
8 6 .6
8 8 .0
352.4
349.0
352.6
302.1
298.3
303.3
50.6
51.2
49.5
12.4
13.2
11.3
37.2
38.7
38.4
1,456.1 1,450.4 1,440.7
1,203.2 1,197.2 1,188.4
253.6
253.9
252.9
187.6
189.3
188.6
68.3
69.6
69.8
- 1 1 .2
- 1 0 .8
-11.5
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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.
2010
2011
IV
III
Government consumption
expenditures 1 ..................................
Gross output of general government
Value added....................................
Compensation of general
government employees........
Consumption of general
government fixed c a p ita l2....
Intermediate goods and services
purchased 3 ................................
Durable goods............................
Nondurable goods.....................
Services......................................
Less: Own-account investm ent 4 ......
Sales to other sectors...........
Federal consumption expenditures 1 ...........
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l 2 ........
Intermediate goods and services
purchased 3 ....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent 4 ..........
Sales to other sectors...............
Defense consumption expenditures 1
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l 2 ........
Intermediate goods and services
purchased 3 ....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent 4 ..........
Sales to other sectors................
Nondefense consumption
expenditures 1........................................
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed ca p ita l 2 ........
Intermediate goods and services
purchased 3 ....................................
Durable goods................................
2010
2011
IV
I
II
III
IV
1
2
0.9
3
O.b
-1.2
- 0 ./
-0.3
-2.6
- 2 .6
-0.4
-2.4
- 2 .1
- 0 .1
0.5
0.9
- 0 .6
-0.4
-4.1
-4.9
0.4
4
0.1
-
-
1 .0
- 0 ./
-
1 .2
- 1.1
- 0 .2
b
2.9
3.0
2 .8
2 .8
3.0
3.3
3.5
6
2.1
2 .6
-1.4
-4.5
- 6 .1
-5.1
11.7 -34.9
0 .2
- 0 .2 -0.7
- 1 .6 -9.7 -3.3
-5.0 - 1 0 .8 -13.0
2.4 - 2 .1
1 .0
-1.2 -4.6 -5.6
- 1 .0 -b.b - 6 .0
1 .0
0 .6
1.9
3.2
4.9
-12.9
-4.6
-4.7
-16.8
7
1.1
1 .0
-0.7
1 .6
8 .6
1.1
6 .8
2 .2
3.5
5.9
- 6 .1
3.8
3.1
3.6
17.3
1.0
-
6 .2
0 .2
-
13
14
0.3
2.7
-5.5
3.1
4.0
4.1
3.7
1b
3.6
0 .2
-0.3
1.4
- 0 .2
16
4.0
4.2
3.9
4.0
4.3
5.0
5.3
17
18
19
-3.5 -12.4 -15.1
-6.5
18.1 -47.1
1.1
0.3 -4.9
-3.8 -17.7 - 1 1.1
2 .2
-7.9
0.5
18.7 -63.7 -43.6
-1.1
-8.0 -7.3
- 1.1
- /.9
- /.3
1 ./
1.9
1.4
7.2
13.5
3.3
7.1
- 0 .1
86.3
9.1
9.0
1 .b
14.1
23
24
2b
4.6
4.1
1.9
5.1
4.8
11.9
3.0
2.9
3.4
14.7
-1.3
3,575.2
4.0
4.0
1.7
-22.9
-5.0
-7.9
-27.2
- 0 .6
-96.2
-11.5
-11.4
2.9
26
3.1
0.9
1 .2
0 .6
0 ./
0.7
2 .1
/
4.3
4.2
4.0
4.0
4.2
5.0
5.2
28
29
30
31
32
33
2.4
3.5
-4.4
2.9
6.7
- 2.1
-4.4 -18.2 -16.9
-7.0
19.5 -49.6
3.9 -4.9
10.4
-4.9 -25.2 -11.7
1.4
4.9 -9.1
-3.0
1.5 - 1 0 .2
18.8
16.1
22.9
18.8
-3.2
-4.4
6.7
8.9
-2.7
7.7
0.5
-26.2
-3.6
6.4
-33.1
5.1
2 .1
2 .0
34
35
36
6.2
6.4
4.1
-1.5
- 0 .8
-0.3
2.6
- 0 .6
- 1 .8
-2.4
-3.4
2.9
-8.0
-6.3
- 0 .6
-4.9
- 2 .6
6.8
-7.2
- 0 .1
37
4.3
- 1.1
- 2 .8
2.7
- 1 .6
-4.0
-
38
3.4
4.2
3 ./
4.0
4.6
4.9
5.9
39
40
41
9.5
11.9
-1.5
- 0 .2
0.9 -11.3 -13.6
1 .6
-5.9 -12.9
31.4
31.9
-15.8
-19.5
4?
43
44
45
46
47
48
49
9.2
9.8
3.3
20.7
-1.3
- 0 .6
-0.9
- 2 .b
3.6 - 1 2 .1 - 2 0 .b
36.9
-1.4 - 0 .1
-9.8 -13.2
30.8
3.0 -16.9
9.0
2.4
- 2 .6
29.6 -78.9 -59.4 193.8 12,137.9
-1.2 -1.1
0.0 -1.4
-2.0
- 0 .6 -0.9
0.3 -0.7
- 1 .0
- 1 .2
-0.7
- 1 .0 -0.9 - 1.1
-24.0
-14.2
-4.9
-98.7
-2.9
-1.9
-0.3
bO
-1.4
-1.4
-1.3
- 1 .6
-1.7
b1
2.1
1.9
1.9
1.9
1.9
2 .0
2 .0
52
53
54
55
56
57
0 .2
2.9
0.3 - 0 . 8
-0.4 -0.9 - 0 . 6
- 0 .1
-0.3
0.3
4.8
0.5 - 1.1
-7.0 - 1 1 .6 -16.7
2 .0
0.7
2.3
0.4
-1.4
-0.3
-0.3
- 2 .1
3.3
2.7
-4.7
-3.7
-3.8
-5.3
1.7
1.7
2.4
2.4
3.3
2 .0
2 .0
1.1
8
9
10
11
12
20
21
22
2
2 .2
0 .8
-
1 .2
1 0 .0
-5.8
1 0 .0
1 .8
0.9
1.1
1 0 .6
1 2 .8
1 0 .8
1 .2
Commodity Credit Corporation
Other nondurable goods...........
Services...........................................
Less: Own-account investm ent 4 ..........
Sales to other sectors...............
State and local consumption expenditures 1
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed ca p ita l 2 ........
Intermediate goods and services
purchased 3 ....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent 4 ..........
Sales to other sectors...............
Tuition and related
educational charges.........
Health and hospital charges
Other sales............................
58
59
60
-0.5
- 0 .1
0.4
- 8 .0
2.9
2 .2
2.9
3.3
1 .8
2 .2
1 .8
- 0 .1
0 .6
0.3
-7.8
2.5
1 .8
2.4
2.4
2.4
2.4
- 0 .8
2.1
2 .6
0.4
-
1.1
-0.7
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software in table 3.9.5.
February 2012
S urvey
of
D-29
C u r r e n t B u s in e s s
Table 3.10.3. Real Government Consumption Expenditures and General Government Gross Output, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Government consumption expenditures 1.................................................................
Gross output of general government............................
Value added.................................................................
Compensation of general government employees
Consumption of general government fixed ca p ita l 2
Intermediate goods and services purchased 3 .......
Durable goods.........................................................
Nondurable goods..................................................
Services..................................................................................................................
Less: Own-account investment4
Sales to other sectors..
Federal consumption expenditures 1...
Gross output of general government
Value added....................................................................................................................
Compensation of general government employees
Consumption of general government fixed ca p ita l 2 .............................................
Intermediate goods and services purchased 3
Durable goods.................................................
Nondurable goods..........................................
Services...........................................................
Less: Own-account investment 4 ..........................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1 .............................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Nondurable goods................
Services.................................
Less: Own-account investment4.
Sales to other sectors......
Nondefense consumption expenditures 1
Gross output of general government
Value added...............................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.......................
Nondurable goods................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods..
Services.................................
Less: Own-account investment4.
Sales to other sectors......
State and local consumption expenditures 1
Gross output of general government
Value added...............................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.............................................................................................................
Nondurable goods................
Services.................................
Less: Own-account investment4.
Sales to other sectors......
Tuition and related educational charges........................................................
Health and hospital charges............................................................................
Other sales........................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
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
107.503
107.492
106.364
104.687
116.311
109.392
132.366
102.352
110.126
98.912
108.024
119.664
119.423
114.802
113.051
121.330
125.486
152.938
115.655
123.784
2011
I
II
III
IV
103.869
118.281
118.093
114.171
112.023
121.098
122.912
153.266
102.917
120.678
108.538
94.560
122.522
122.115
115.970
114.788
121.922
131.248
150.166
106.236
106.703
105.994
103.692
119.748
107.903
126.435
102.531
108.342
94.009
110.655
118.207
118.229
115.982
113.257
126.464
121.128
143.073
116.965
119.113
112.664
123.255
116.976
116.789
116.138
113.073
126.242
117.484
142.600
106.890
114.718
110.025
91.682
120.731
121.136
115.671
113.552
127.026
129.263
149.870
107.171
107.214
106.170
104.261
117.532
108.974
137.826
102.538
108.992
98.162
108.129
119.542
119.161
115.095
112.986
123.073
124.483
162.248
116.534
121.361
112.769
90.066
117.569
117.407
114.949
112.507
122.892
120.375
163.136
100.260
116.327
112.963
94.615
123.619
122.711
115.353
113.786
123.520
133.678
152.859
106.518
106.655
106.137
104.089
118.350
107.544
123.820
102.350
108.090
94.796
108.396
117.823
117.336
115.650
113.378
124.288
119.500
138.392
115.092
117.858
112.905
78.060
115.377
115.211
115.354
112.680
124.102
114.928
137.474
102.766
112.765
110.286
92.105
122.882
121.641
116.191
114.554
124.750
129.747
150.535
106.643
106.882
105.986
103.769
119.225
108.390
126.405
102.634
109.033
93.321
109.420
118.724
118.370
115.877
113.334
125.617
121.595
142.829
116.040
119.890
112.876
91.198
117.923
117.721
115.796
112.875
125.399
119.993
142.702
108.208
117.722
109.385
91.070
120.354
119.664
116.013
114.100
126.166
125.091
145.445
106.449
107.311
105.874
103.481
120.193
109.699
128.501
103.186
110.600
93.823
113.883
119.024
120.163
115.936
113.033
127.144
125.665
146.469
119.581
124.084
112.520
224.546
119.087
118.876
116.290
113.070
126.931
121.965
145.785
107.458
119.919
109.523
91.552
118.853
122.758
115.253
112.949
127.679
133.926
155.862
105.333
105.964
105.978
103.431
121.226
105.980
127.012
101.955
105.645
94.096
110.922
117.255
117.048
116.465
113.283
128.808
117.750
144.601
117.146
114.618
112.356
99.214
115.515
115.349
117.113
113.666
128.537
113.050
144.439
109.127
108.466
110.905
92.000
120.833
120.481
115.228
112.603
129.509
128.287
147.636
128.028
130.698
111.530
109.784
100.080
101.579
102.729
101.426
112.532
99.486
102.918
99.382
99.317
96.225
108.182
106.928
111.798
104.179
124.805
128.896
114.822
142.334
98.928
100.989
101.687
99.959
114.720
99.743
102.502
99.315
99.803
89.535
110.307
108.838
114.246
106.020
131.547
132.569
112.598
87.693
99.619
101.292
102.324
100.858
113.369
99.426
102.952
99.412
99.198
94.671
108.692
107.247
112.575
104.463
127.371
129.198
115.044
69.993
99.615
101.358
102.037
100.464
113.893
100.147
102.790
99.495
100.358
90.454
109.318
107.891
113.251
105.008
120.278
124.698
115.742
91.635
99.268
101.187
101.721
100.036
114.434
100.241
102.772
99.636
100.429
88.627
109.989
108.538
113.931
105.686
130.095
133.356
114.974
304.781
98.773
100.942
101.536
99.752
114.991
99.888
102.700
99.550
99.886
89.339
110.721
109.189
114.614
106.543
121.474
128.332
113.525
102.929
98.054
100.467
101.455
99.584
115.564
98.696
101.747
98.578
98.540
89.718
1 1 0 .2 0 0
1 1 1 .2 0 0
109.735
115.187
106.844
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
February 2012
National Data
D-30
Table 3.10.4. Price Indexes for Government Consumption Expenditures and General Government Gross Output
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
IV
Government consumption expenditures 1.................................................................
Gross output of general government...........................................................................
Value added................................................................................................................
Compensation of general government employees............................................
Consumption of general government fixed ca p ita l 2 ........................................
Intermediate goods and services purchased 3 ......................................................
Durable goods........................................................................................................
Nondurable goods..................................................................................................
Services..................................................................................................................
Less: Own-account investment4 .................................................................................
Sales to other sectors.......................................................................................
Federal consumption expenditures 1........................................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
Services.......................................................................................................................
Less: Own-account investment4 ......................................................................................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1 .............................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment4 ......................................................................................
Sales to other sectors...........................................................................................
Nondefense consumption expenditures 1......................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Other nondurable goods.......................................................................................
Services......................................................................................................................
Less: Own-account investment4 ......................................................................................
Sales to other sectors...........................................................................................
State and local consumption expenditures 1..........................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment4 ......................................................................................
Sales to other sectors...........................................................................................
Tuition and related educational charges........................................................
Health and hospital charges............................................................................
Other sales........................................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
1b
1/
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
b1
b2
53
54
55
56
57
58
59
60
117.458
117.888
118.403
119.072
114.780
117.028
104.578
121.736
116.519
116.457
120.916
115.012
114.997
117.048
119.739
107.763
112.476
103.304
117.229
113.062
116.250
112.765
115.292
115.298
117.749
1 2 0 .6 6 8
109.089
112.471
104.272
123.632
112.731
117.644
115.100
114.438
114.388
115.772
118.202
104.258
112.503
92.296
i 10.320
113.803
115.161
111.003
119.000
119.391
118.982
118.781
120.651
120.071
106.904
122.838
119.483
116.453
121.132
134.288
117.145
118.152
2011
2010
I
II
III
121.238
121.593
120.751
121.381
117.314
122.943
105.083
139.001
119.087
119.655
124.163
118.472
118.414
119.594
122.442
109.774
116.950
103.633
131.125
116.769
119.842
113.200
119.059
119.064
120.545
123.555
111.622
117.382
104.679
148.550
116.579
122.966
117.456
117.307
117.138
117.859
120.603
104.880
116.104
91.821
118.396
118.817
119.047
119.764
115.171
118.417
104.516
125.421
117.282
117.252
121.808
115.738
115.719
117.596
120.334
108.149
113.402
103.102
119.283
113.991
116.826
113.238
116.097
116.101
118.380
121.336
109.617
113.470
104.074
127.752
113.690
118.213
115.799
115.011
114.956
116.168
118.679
104.267
113.285
92.053
120.122
120.466
119.833
120.547
115.977
121.472
104.683
135.997
118.039
118.772
122.961
117.373
117.349
118.617
121.409
108.989
115.771
103.307
129.282
115.566
118.823
114.026
118.016
118.023
119.637
122.642
110.730
116.178
104.300
146.029
115.352
121.790
116.850
116.092
116.027
116.758
119.372
104.378
114.976
92.040
120.602
121.276
116.950
123.376
104.982
141.031
119.023
119.588
123.767
118.508
118.477
119.437
122.275
109.653
117.280
103.589
132.723
116.966
119.921
114.292
119.152
119.156
120.371
123.363
111.498
117.786
104.623
151.913
116.767
123.326
117.249
117.227
117.144
117.734
120.476
104.767
116.282
91.898
121.707
117.857
123.437
105.219
139.706
119.543
120.034
124.654
119.019
118.934
120.118
122.991
110.218
117.468
103.726
131.922
117.306
120.454
112.374
119.584
119.588
121.067
124.079
112.134
117.914
104.760
149.518
117.151
123.882
117.689
117.901
117.652
118.389
121.192
105.140
116.596
92.033
115.308
117.227
117.401
110.879
123.014
123.264
121.229
120.918
123.647
127.118
107.788
140.995
120.902
119.528
124.509
141.023
119.135
121.379
110.892
114.669
115.735
111.364
120.098
120.446
119.673
119.517
121.042
121.837
107.151
126.962
120.066
117.308
122.037
135.879
117.619
119.245
114.062
116.074
116.499
111.976
121.888
122.103
120.342
120.171
121.816
125.425
107.236
137.685
120.007
118.687
123.199
138.257
118.177
120.506
115.338
117.444
117.266
112.155
123.246
123.343
121.085
120.840
123.063
127.631
107.571
143.139
120.579
119.416
124.019
139.865
118.899
120.952
115.955
117.693
117.780
109.869
123.299
123.608
121.507
121.145
124.276
127.588
108.009
141.672
121.279
119.835
125.075
142.125
119.568
121.789
121.386
1 2 1 .6 6 6
121.637
122.004
1 2 1 .1 1 1
IV
121.808
122.236
121.455
121.997
118.472
123.486
105.450
139.268
119.742
120.228
125.271
118.990
118.896
1 2 0 .2 0 1
123.093
110.236
117.280
103.911
130.571
117.237
120.170
112.109
119.485
119.489
121.105
124.135
112.124
117.649
105.034
146.741
117.045
122.865
118.037
118.009
117.730
118.554
121.374
105.234
116.561
91.314
115.877
117.696
118.058
109.518
123.622
124.003
121.983
121.518
125.435
127.827
108.336
141.485
121.744
120.174
125.743
143.845
119.897
122.271
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
February 2012
Survey
of
D-31
C u r r e n t B u s in e s s
Table 3.10.5. Government Consumption Expenditures and General Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2010
2011
2011
I
IV
Government consumption expenditures 1.................................................................
Gross output of general government..........................................................................
Value added.................................................................
Compensation of general government employees
Consumption of general government fixed capital 2 ........................................
Intermediate goods and services purchased 3
Durable goods.........................................................
Nondurable goods............
Services.............................
Less: Own-account investment 4
Sales to other sectors..
Federal consumption expenditures 1.......................................................................................
Gross output of general government...................
Value added........................................................
Compensation of general government employees
Consumption of general government fixed ca p ita l 2 .............................................
Intermediate goods and services purchased 3
Durable goods.................................................
Nondurable goods......................................................................................................
Services....................
Less: Own-account investment4
Sales to other sectors
Defense consumption expenditures 1 ............................................................................
Gross output of general government
Value added.................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods
.................................................................................................
Nondurable goods....
Services....................
Less: Own-account investment4
Sales to other sectors
Nondefense consumption expenditures 1......................................................................
Gross output of general government
...........................................................
Value added....................................................................................................................
Compensation of general government employees
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods.................................................
Nondurable goods..........................................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods......................................................................................
Services......................................................................................................................
Less: Own-account investment 4
Sales to other sectors
State and local consumption expenditures 1.........................................................................
Gross output of general government...............................................................................
Value added........................................................
Compensation of general government employees
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods................................................
Nondurable goods.........................................
Services..........................................................
Less: Own-account investment 4 .....................................................................................
Sales to other sectors..............................
Tuition and related educational charges
Health and hospital charges...............
Other sales............................................
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
2,497.5
2,913.8
1,809.1
1,530.5
278.6
1,104.8
75.6
271.1
758.1
27.4
389.0
1,054.0
1,070.6
589.6
466.3
123.3
481.1
51.1
55.1
374.9
5.9
1 0 .6
702.1
708.3
382.3
291.6
90.7
326.0
47.2
26.6
252.2
2,547.5
2,983.4
1,838.5
1,545.3
293.2
1,144.9
72.5
310.1
762.2
26.8
409.2
1,072.5
1,091.4
608.6
477.7
130.9
482.9
47.9
62.3
372.6
6.3
12.7
717.0
723.4
398.1
301.3
96.8
325.2
44.1
33.2
247.9
2 .6
2 .8
3.6
351.9
362.3
207.2
174.7
32.6
155.1
3.9
28.5
- 0 .1
28.6
122.7
3.3
7.1
1,443.5
1,843.2
1,219.5
1,064.2
155.3
623.7
24.5
216.0
383.2
21.4
378.3
87.8
173.3
117.2
3.6
355.5
368.0
210.4
176.3
34.1
157.6
3.8
29.1
0 .0
29.1
124.7
3.5
9.1
1,475.0
1,892.0
1,230.0
1,067.7
162.3
662.0
24.6
247.8
389.6
20.5
396.5
93.9
180.1
122.5
II
2,509.7
2,929.2
1,815.6
1,533.1
282.5
1,113.6
78.6
279.8
755.2
27.4
392.2
1,059.6
1,075.0
593.8
468.3
125.5
481.1
54.1
56.5
370.6
2,530.7
2,954.4
1,827.0
1,540.6
286.4
1,127.4
70.8
302.8
753.8
26.8
396.9
1,059.1
1,073.4
601.9
474.1
127.7
471.5
46.2
60.4
364.9
6 .1
6 .2
8.1
9.3
702.7
709.1
387.0
294.5
92.5
322.1
50.2
26.8
245.2
2.7
3.6
356.9
365.9
206.8
173.9
33.0
159.0
3.9
29.7
0.1
29.5
125.4
3.4
5.7
1,450.1
1,854.3
1 ,2 2 1 . 8
1,064.8
157.0
632.5
24.6
223.3
384.6
21.3
382.9
89.1
175.2
118.6
701.0
707.3
392.5
298.1
94.4
314.9
42.4
31.4
241.1
2,560.4
2,990.2
1,836.1
1,545.2
291.0
1,154.1
72.5
314.9
766.7
26.5
403.3
1,077.5
1,093.3
607.2
477.3
129.9
486.1
47.8
62.6
375.7
6.3
9.5
723.4
729.7
396.4
300.4
96.0
333.3
44.1
34.4
254.8
III
IV
2,561.0
3,010.5
1,841.9
1,546.3
295.6
1,168.6
73.8
313.6
781.1
26.8
422.7
1,084.9
1,114.1
611.0
478.8
132.1
503.1
49.1
64.1
389.9
6.3
22.9
733.2
739.5
400.4
302.6
97.8
339.1
45.1
33.6
260.4
2,537.7
2,978.4
1,849.0
1,549.3
299.7
1,129.4
73.1
308.9
747.4
26.9
413.8
1,068.5
1,084.9
614.2
480.3
133.9
470.7
48.6
62.1
360.0
6.3
10.1
710.6
717.0
403.3
304.3
99.0
313.6
44.8
33.5
235.3
2 .8
2 .8
2 .8
2 .8
3.6
358.1
366.1
209.4
176.1
33.3
156.7
3.9
29.1
-0.4
29.4
123.7
3.5
4.5
1,471.7
1,881.0
1,225.2
1,066.5
158.7
655.8
24.5
242.4
388.9
20.5
388.8
91.2
177.1
120.5
3.5
354.1
363.6
3.6
351.7
374.6
2 1 0 .8
2 1 0 .6
177.0
33.8
152.8
3.7
28.2
176.2
34.4
164.0
4.0
30.5
- 0 .1
30.6
129.5
3.5
19.4
1,476.1
1,896.4
1,231.0
1,067.5
163.5
665.4
24.7
249.5
391.2
20.5
399.8
94.9
181.3
123.6
3.6
357.9
367.9
210.9
176.0
34.9
157.0
3.7
28.7
0.1
28.1
1 2 0 .8
3.5
5.9
1,482.9
1,896.9
1,228.9
1,067.8
161.1
6 6 8 .0
24.6
252.3
391.0
20.3
393.8
92.9
179.2
121.7
0.1
28.5
124.6
3.5
6.5
1,469.2
1,893.5
1,234.8
1,069.0
165.8
658.7
24.5
246.8
387.4
2 0 .6
403.7
96.5
182.7
124.4
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software in table 3.9.5.
D-32
February 2012
National Data
Table 3.10.6. Real Government Consumption Expenditures and General Government Gross Output, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Government consumption expenditures 1.................................................................
Gross output of general government..........................................................................
Value added...............................................................................................................
Compensation of general government employees............................................
Consumption of general government fixed capital 2 .........................................
Intermediate goods and services purchased 3 ......................................................
Durable goods........................................................................................................
Nondurable goods.................................................................................................
Services..................................................................................................................
Less; Own-account investment 4 .................................................................................
Sales to other sectors......................................................................................
Federal consumption expenditures 1........................................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment 4 .....................................................................................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1 .............................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed c apital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment 4 .....................................................................................
Sales to other sectors...........................................................................................
Nondefense consumption expenditures 1......................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods.......................................................................................
Services......................................................................................................................
Less: Own-account investment 4 .....................................................................................
Sales to other sectors...........................................................................................
State and local consumption expenditures 1.........................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital 2 .............................................
Intermediate goods and services purchased 3 ..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment 4 .....................................................................................
Sales to other sectors...........................................................................................
Tuition and related educational charges........................................................
Health and hospital charges............................................................................
Other sales........................................................................................................
Residual............................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
25
26
21
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
2,126.3
2,471.7
1,527.9
1,285.3
242.7
944.0
72.3
222.7
650.6
23.5
321.7
916.4
931.0
503.7
389.4
114.4
427.7
49.4
47.0
331.6
5.1
9.4
609.0
614.3
324.7
241.6
83.2
289.8
45.3
21.5
223.7
2,101.2
2,453.6
1,522.6
1,273.1
249.9
931.2
69.0
223.1
640.1
22.4
329.5
905.3
921.7
508.9
390.1
119.3
412.8
46.3
47.5
319.1
5.2
2 .2
2.3
3.0
303.0
314.2
178.5
146.2
32.5
135.8
4.2
25.3
3.1
307.5
316.7
179.0
147.8
31.2
137.8
4.2
25.8
- 0.1
25.9
107.9
2.9
6.4
1,213.0
1,543.9
1,025.0
895.9
128.7
519.4
22.9
175.9
320.7
18.4
312.3
65.4
147.9
99.2
-4.5
I
2,119.7
2,465.3
1,525.1
1,280.1
245.3
940.4
75.2
223.1
643.9
23.3
322.0
915.5
928.9
505.0
389.2
116.1
424.3
52.5
47.3
325.1
5.2
1 1 .2
8 .2
602.2
607.5
330.3
243.9
86.7
277.0
42.1
22.3
605.3
610.7
326.9
242.7
84.4
283.8
48.2
20.9
215.6
2.3
3.1
310.3
318.3
178.0
146.5
31.6
140.4
4.2
26.8
2 1 2 .6
0 .0
0.1
25.3
106.4
3.0
26.7
109.4
2.9
5.1
1,207.4
1,539.5
1,020.9
890.9
129.7
519.1
22.9
175.9
320.3
18.1
313.8
65.6
148.9
99.5
-4.8
8 .2
1,199.0
1,534.9
1,014.6
883.0
131.2
520.8
2 2 .8
175.7
322.3
17.1
318.4
6 6 .6
151.2
1 0 1 .0
-3.6
II
2,106.8
2,452.5
1,524.6
1,278.0
247.0
928.1
67.6
222.7
638.6
22.5
322.8
902.3
914.7
507.4
390.5
117.2
407.3
44.7
46.7
315.7
5.2
7.1
594.0
599.3
328.1
243.1
85.2
271.0
40.6
21.5
209.0
2.3
3.0
308.4
315.5
179.3
147.5
31.9
136.3
4.2
25.6
- 0 .2
25.8
106.6
3.0
4.1
1,207.4
1,540.5
1,018.1
887.4
130.3
522.9
22.9
176.1
324.1
17.3
315.6
2,109.3
2,457.7
1,522.5
1,274.1
248.8
935.4
69.0
223.3
644.2
2 2 .2
325.8
909.2
922.8
508.4
390.4
118.5
414.4
46.2
47.1
321.2
5.2
8.3
607.1
612.4
329.3
243.5
8 6 .1
282.9
42.2
2 2 .6
218.2
2 .2
3.0
302.1
310.4
179.1
146.9
32.3
131.4
4.0
24.4
0.1
149.8
24.4
102.9
3.0
5.3
1,203.2
1,537.9
1,014.9
883.7
130.9
523.4
22.9
176.3
324.3
17.0
317.5
66.4
150.7
1 0 0 .0
1 0 0 .6
-3.7
-3.8
6 6 .0
III
IV
2,105.4
2,467.5
1,520.9
1,270.5
250.8
946.7
70.2
224.5
653.4
22.3
339.1
911.5
936.8
508.7
389.3
119.9
428.3
47.4
48.6
332.4
5.2
20.4
613.1
618.4
330.7
243.9
87.2
287.6
43.1
22.4
222.3
2.3
3.0
298.3
318.4
177.9
145.4
32.7
140.7
4.3
26.3
2,083.3
2,436.6
1,522.3
1,269.9
253.0
914.6
69.3
2 2 1 .8
624.1
22.4
330.3
898.0
912.5
511.0
390.2
121.5
401.3
46.7
47.6
307.0
5.2
9.0
594.7
600.0
333.1
245.2
88.3
266.6
42.7
2 2 .8
2 0 1 .1
2.3
3.0
303.3
312.5
177.9
145.0
33.2
134.7
4.1
24.7
0 .0
0.1
26.4
24.6
105.9
2.9
1 1 0 .0
3.0
17.6
1,197.2
1,534.2
1,013.1
881.1
131.5
521.5
22.9
176.1
322.5
17.1
319.6
6 6 .8
151.6
101.5
-3.5
6 .0
1,188.4
1,527.0
1 ,0 1 2 .2
879.7
132.2
515.3
22.7
174.4
318.2
17.2
321.0
67.1
152.4
101.7
-4.3
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software in table 3.9.5.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 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.
February 2012
S urvey
of
D-33
C u r r e n t B u s in e s s
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2010
2010
2011
2011
IV
National defense consumption expenditures and gross investm ent......................
Consumption expenditures 1......................................................................................................
Gross output of general government............................
Value added................................................................
Compensation of general government employees
M ilitary................................................................
Civilian................................................................
Consumption of general government fixed capital 2
Intermediate goods and services purchased 3 ...................................................................
Durable goods.....................................................................................................................
Aircraft..............................................................................................................................
Missiles
Ships....
Vehicles
Electronics
Other durable goods
Nondurable goods..............................................................................................................
Petroleum products ..................................................................................................
Ammunition..................
Other nondurable goods
Services...........................
Research and development
Installation support.....
Weapons support........
Personnel support..........................................................................................................
Transportation of material
Travel of persons,,,
Less: Own-account investm ent 4
Sales to other sectors.
Gross investm ent5....................
Structures.....................................................................................................................................
Equipment and software............................................................................................................
Aircraft.......................
Missiles....................
Ships.........................
Vehicles....................
Electronics and software
Other equipm ent.....
1
2
3
4
5
3.3
3.0
2.9
3.4
3.1
6
1 .6
7
6.5
4.3
2.4
3.5
7.7
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
1.1
8.3
0.7
2.3
1 .0
-4.4
- 1 .2
0.5
-10.5
2.9
-2.3
2 .2
4.1
6.7
2.3
3.6
6.7
- 2.1
5.1
1.3
5.8
2 2 .2
13.0
0 .8
7.5
2.5
1 .0
-2.4
-1.1
- 1.1
1.7
0.9
-0.4
3.7
4.2
-4.4
-7.0
I
-12.6
-7.3
-7.3
1.4
1 .2
0 .6
0.1
-18.5
-18.2
-17.2
-24.5
-7.0
3.9
7.6
- 6 .2
-1.5
7.1
4.0
-18.2
19.5
70.8
-19.6
-21.5
37.5
2.9
-4.2
-4.9
-19.3
38.2
0 .8
2 .1
-4.9
- 6 .0
-9.5
-21.7
6.9
-8.9
- 10.1
1.4
-3.0
-9.9
-16.9
-8.7
5.1
-16.5
- 6 .0
-29.2
- 1 0 .1
- 8 .8
-25.2
-17.2
-33.0
-58.6
-16.6
1 2 .0
II
-5.9
-8.0
-7.9
1.9
2 .2
6 .0
4.9
1.5
7.9
-13.8
12.3
62.8
-28.0
47.7
14.0
6 .6
- 6 .2
1.7
4.0
-16.9
-49.6
-50.9
-54.4
-77.6
-45.4
-65.1
-23.1
10.4
20.5
- 2 0 .6
10.4
-11.7
-15.5
-17.0
-41.1
7.6
-15.5
- 2 1 .0
-9.1
- 1 0 .2
-39.1
-41.3
-38.8
-44.6
-30.4
-63.4
-64.7
-40.2
-12.3
III
IV
7.0
9.1
9.0
1.5
0.7
5.0
4.0
4.0
1.7
0.7
-12.5
-11.5
-11.4
2.9
0 .8
0 .6
- 0 .1
2.4
5.0
6.7
8.9
28.4
-6.7
4.3
-29.1
-3.1
7.5
-2.7
-5.3
21.3
-6.4
7.7
40.9
-2.7
-14.9
6.4
-0.3
- 1 1 .8
0.5
- 0 .2
7.0
5.2
-26.2
-3.6
0.4
65.3
-5.0
9.8
-11.9
-23.8
6.4
4.2
18.8
16.1
76.8
-23.1
152.1
14.9
-7.0
-18.9
22.9
41.8
-14.8
6 .6
18.8
-6.4
14.0
78.9
35.4
-17.9
-13.1
-3.2
-4.4
-5.8
-27.7
-1.7
34.3
15.3
29.0
-30.5
0 .6
- 2 1 .0
2.1
8 .2
15.4
-1.3
-33.1
-43.6
-23.6
-71.3
-18.9
-10.5
- 2 0 .6
5.1
2.1
2 .0
11.9
47.2
7.0
87.2
-55.2
-7.2
-13.5
2.7
-1.3
-19.0
-52.9
- 1 1 .8
- 1 2 .1
1 1.1
81.0
- 2 0 .8
-3.7
-38.1
1. National defense consumption expenditures are defense services produced by government that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures.
D-34
February 2012
National Data
Table 3.11.3. Real National Defense Consumption Expenditures
and Gross Investment by Type, Quantity Indexes
Table 3.11.4. Price Indexes for National Defense Consumption
Expenditures and Gross Investment by Type
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
National defense
consumption expenditures
and gross investment........
Consumption expenditures 1........
Gross output of general
governm ent................................
Value a dded...............................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed ca p ita l 2
Intermediate goods and
services purchased 3 ...........
Durable goods.......................
Aircraft................................
Missiles..............................
S hips..................................
Vehicles.............................
Electronics.........................
Other durable goods.........
Nondurable goods................
Petroleum products..........
Ammunition.......................
Other nondurable goods...
S ervices.................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons..............
Less: Own-account investm ent 4
Sales to other se ctors......
Gross investm ent5..........................
Structures........................................
Equipment and software...............
Aircraft.........................................
Missiles........................................
S hip s...........................................
Vehicles......................................
Electronics and software..........
Other equipment........................
1
2
Seasonally adjusted
Line
2011
I
II
III
121.942 119.076 121.846 117.822 119.841 121.311 117.332
118.281 116.976 117.569 115.377 117.923 119.087 115.515
3 118.093 116.789 117.407 115.211 117.721 118.876 115.349
4 114.171 116.138 114.949 115.354 115.796 116.290 117.113
b 112.023 113.073 112.507 112.680 112.875 113.070 113.666
6 110.766 110.345 110.199 110.224 110.431 110.390 110.336
7 114.692 118.978 117.485 117.987 118.153 118.869 120.902
8
121.098 126.242 122.892 124.102 125.399 126.931 128.537
9 122.912
1 0 153.266
11 143.866
1 2 130.386
13 51.704
14 295.877
15 206.775
16 137.759
17 102.917
18 100.502
19 89.409
2 0 117.108
21 120.678
117.484
142.600
161.105
106.303
42.305
244.878
156.127
128.049
106.890
108.175
83.894
118.095
114.718
120.375
163.136
166.983
132.649
51.353
287.945
208.326
143.237
100.260
96.828
88.582
114.876
116.327
114.928
137.474
139.803
109.007
35.325
247.475
160.112
134.154
102.766
101.443
83.607
117.757
112.765
119.993
142.702
161.205
102.087
44.512
256.220
157.244
127.316
108.208
110.701
80.322
119.646
117.722
121.965
145.785
171.611
100.344
44.979
235.117
156.011
129.629
107.458
109.194
84.289
117.682
119.919
113.050
144.439
171.801
113.775
44.404
240.700
151.142
121.096
109.127
111.362
87.359
117.293
108.466
96.557
115.241
120.230
143.885
167.842
105.000
108.538
94.560
148.516
197.867
142.225
122.937
139.459
98.368
235.371
172.092
142.498
88.859
104.259
94.168
153.849
152.981
94.399
110.025
91.682
133.810
164.365
129.888
129.222
116.391
92.423
166.635
154.791
129.926
93.046
108.714
105.388
143.410
166.732
105.829
112.963
94.615
153.045
198.767
147.206
131.561
135.730
109.928
238.530
175.640
144.546
89.217
103.765
92.311
146.044
159.834
99.778
110.286
92.105
135.186
173.987
130.227
113.479
123.994
85.476
183.922
154.474
139.863
87.746
107.229
106.763
157.540
152.158
96.337
109.385
91.070
133.174
160.421
129.662
122.154
128.483
91.101
167.914
154.699
131.854
95.606
106.491
102.553
159.988
152.041
93.360
109.523
91.552
136.957
176.700
131.877
142.893
105.138
89.409
161.940
155.731
131.410
82.868
99.553
75.044
151.823
147.891
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
8 8 .1 2 0
110.905
92.000
129.923
146.354
127.787
138.361
107.951
103.707
152.763
154.260
116.576
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2010
2011
IV
2010
IV
National defense
consumption expenditures
and gross investment.........
Consumption expenditures 1.........
Gross output of general
government.................................
Value added................................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed c a p ita l 2
Intermediate goods and
services purchased 3 ............
Durable goods.......................
A ircraft................................
Missiles...............................
Ships...................................
Vehicles..............................
Electronics.........................
Other durable goods.........
Nondurable goods................
Petroleum products...........
Ammunition........................
Other nondurable goods...
Services..................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons...............
Less: Own-account investm ent 4
Sales to other sectors.......
Gross investm ent5..........................
Structures.......................................
Equipment and software...............
Aircraft........................................
Missiles.......................................
Ships............................................
Vehicles......................................
Electronics and software...........
Other equipment........................
1
2
2011
I
II
III
IV
114.046 117.593 114.802 116.576 117.672 118.119 118.005
115.292 119.059 116.097 118.016 119.152 119.584 119.485
3 115.298 119.064 116.101 118.023 119.156 119.588 119.489
4 117.749 120.545 118.380 119.637 120.371 121.067 121.105
b
1 2 0 .6 6 8 123.555 121.336 122.642 123.363 124.079 124.135
6 121.616 124.889 122.464 124.140 124.717 125.360 125.338
7 118.732 120.831 119.026 119.591 120.602 121.463 121.671
8
109.089 111.622 109.617 110.730 111.498 112.134 112.124
9
112.471
104.272
101.778
107.820
109.458
105.125
101.954
107.043
123.632
132.138
120.154
111.471
112.731
117.382
104.679
101.698
108.889
111.533
106.434
101.944
108.013
148.550
180.729
125.881
114.056
116.579
113.470
104.074
101.329
107.715
109.519
105.668
101.508
107.224
127.752
139.838
121.530
111.999
113.690
116.178
104.300
101.505
108.294
111.614
105.960
101.800
107.207
146.029
177.436
123.943
112.242
115.352
117.786
104.623
101.611
108.805
111.372
106.236
101.953
108.003
151.913
187.716
125.878
113.847
116.767
117.914
104.760
101.677
109.110
111.504
106.225
102.042
108.292
149.518
181.517
127.361
115.101
117.151
117.649
105.034
101.998
109.347
111.642
107.314
101.980
108.550
146.741
176.246
126.344
115.033
117.045
114.230
113.675
110.880
111.265
112.889
115.464
117.644
115.100
106.262
117.415
105.114
104.836
107.210
122.008
106.166
93.700
105.861
117.949
119.815
113.215
113.261
120.859
125.833
122.966
117.456
108.549
120.782
107.254
109.634
111.423
128.719
107.916
92.956
106.989
115.353
114.834
111.541
111.907
115.116
116.511
118.213
115.799
106.751
118.166
105.564
106.342
109.155
122.871
106.289
93.270
106.069
116.439
118.227
111.964
112.577
119.337
122.991
121.790
116.850
107.694
119.290
106.484
109.121
110.079
126.579
106.590
93.044
106.112
117.850
120.805
112.948
113.073
123.619
125.661
123.326
117.249
108.545
120.443
107.295
109.659
111.587
129.193
107.392
92.991
106.980
118.554
120.887
113.775
113.542
121.292
127.105
123.882
117.689
109.084
121.135
107.815
110.960
112.088
130.041
108.098
92.903
107.288
118.953
119.341
114.174
113.852
119.188
127.574
122.865
118.037
108.874
122.262
107.420
108.796
111.938
129.062
109.583
92.887
107.576
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
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
February 2012
S urvey
of
D-35
C u r r e n t B u s in e s s
Table 3.11.5. National Defense Consumption Expenditures
and Gross Investment by Type
Table 3.11.6. Real National Defense Consumption Expenditures
and Gross Investment by Type, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
National defense
consumption expenditures
and gross investment
Consumption expenditures 1
Gross output of general
governm ent................................
Value a dded...............................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed ca p ita l 2
Intermediate goods and
services purchased 3 ...........
Durable goods.......................
Aircraft.
Missiles
Ships...
Vehicles
Electronics.........................
Other durable goods
Nondurable goods................
Petroleum products..........
Ammunition.......................
Other nondurable goods...
Services.................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons..............
Less: Own-account investment 4
Sales to other se ctors.....
Gross investm ent5..........................
Structures.......................................
Equipment and software...............
Aircraft.........................................
Missiles........................................
S hip s...........................................
Vehicles......................................
Electronics and software
Other equipment........................
Line
2011
I
II
III
IV
2
824.8
717.0
823.9
702.7
809.0
701.0
830.6
723.4
844.0
733.2
815.6
710.6
3
4
708.3
382.3
723.4
398.1
709.1
387.0
707.3
392.5
729.7
396.4
739.5
400.4
717.0
403.3
5
291.6
198.1
93.5
301.3
2 0 1 .2
96.9
300.4
202.5
97.8
302.6
203.5
99.1
304.3
203.3
98.7
294.5
198.4
96.0
298.1
2 0 2 .6
7
8
90.7
96.8
92.5
94.4
96.0
97.8
99.0
9
326.0
47.2
15.7
4.6
325.2
44.1
17.6
3.8
0.7
2.9
322.1
50.2
18.2
4.7
314.9
42.4
15.2
3.9
0.5
2.9
333.3
44.1
17.6
3.6
0.7
3.1
339.1
45.1
18.7
3.6
0.7
313.6
44.8
18.8
4.1
0.7
2.9
8.3
6
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
0 .8
3.5
11.3
11.3
26.6
13.4
4.3
8.9
252.2
33.2
19.8
4.2
9.2
247.9
59.5
46.3
32.5
89.4
14.6
9.9
8 .6
1 0 .6
0 .8
3.4
11.4
1 1 .8
8 .8
1 1 .0
245.2
31.4
18.2
4.1
9.0
241.1
56.5
44.2
26.0
97.3
14.3
9.7
57.9
44.1
28.7
89.6
14.8
56.0
43.4
25.2
91.8
14.7
10.1
2 .6
2 .8
10.1
2 .8
3.6
117.1
17.3
99.8
17.4
3.6
107.8
14.8
93.0
19.1
5.2
11.7
7.0
18.2
31.8
2.7
3.6
121.2
17.5
103.7
18.9
5.9
13.2
9.8
20.7
35.1
6 .0
1 1 .8
9.7
20.4
34.5
26.8
13.7
4.3
8 .8
3.6
108.0
15.5
92.6
16.7
5.5
1 0 .6
7.6
18.2
34.0
8 .6
10.5
34.4
2 .8
8 .6
1 0 .8
33.6
1 0 1 .0
10.1
2 1 .0
2 0 .1
4.0
9.3
254.8
4.3
9.3
260.4
33.5
19.9
4.4
9.2
235.3
55.8
45.8
29.4
99.4
14.5
9.9
61.1
45.5
28.4
101.4
14.2
9.7
53.2
42.0
20.9
96.5
13.6
9.2
2 .8
2 .8
2 .8
3.5
107.3
14.4
92.9
18.1
5.8
11.5
7.0
18.2
32.3
3.6
110.9
15.9
94.9
21.4
4.7
11.4
3.6
105.0
13.3
91.6
20.3
4.8
13.1
6.5
18.1
28.7
6 .8
18.3
32.3
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2011
National defense
consumption expenditures
and gross investment
Consumption expenditures 1
Gross output of general
government.................................
Value added................................
Compensation of general
government employees....
M ilitary................................
Civilian................................
Consumption of general
government fixed c a p ita l 2
Intermediate goods and
services purchased 3 ............
Durable goods.......................
Aircraft................................
Missiles...............................
Ships...................................
Vehicles..............................
Electronics.........................
Other durable goods
Nondurable g oods................
Petroleum products...........
Ammunition........................
Other nondurable goods...
Services..................................
Research and
development.................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons...............
Less: Own-account investm ent4
Sales to other sectors
Gross investm ent5..........................
Structures
Equipment and software...............
A ircraft.........................................
Missiles.......................................
Ships.
Vehicles......................................
Electronics and software...........
Other equipment........................
Residual...............................................
2011
2010
IV
819.2
702.1
1
2010
I
II
III
IV
2
718.3
609.0
701.4
602.2
717.7
605.3
694.0
594.0
705.9
607.1
714.6
613.1
691.1
594.7
3
4
614.3
324.7
607.5
330.3
610.7
326.9
599.3
328.1
612.4
329.3
618.4
330.7
600.0
333.1
5
7
241.6
162.9
78.7
243.9
162.3
81.7
242.7
162.0
80.7
243.1
162.1
81.0
243.5
162.4
81.1
243.9
162.3
81.6
245.2
162.2
83.0
8
83.2
86.7
84.4
85.2
8 6 .1
87.2
88.3
9
289.8
45.3
15.5
4.3
0.7
3.3
277.0
42.1
17.3
3.5
283.8
48.2
17.9
4.3
0.7
3.2
271.0
40.6
15.0
3.6
0.5
282.9
42.2
17.3
3.3
287.6
43.1
18.4
3.3
266.6
42.7
18.5
3.7
0 .6
11.1
1 0 .6
8.4
9.8
22.3
10.9
3.3
2.9
8.4
9.8
0 .6
2 .6
0 .6
2 .8
8 .6
8.4
9.9
22.4
8 .1
1
6
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
0 .6
2 .8
1 1 .2
1 1 .0
8.1
2 1 2 .6
20.9
9.8
3.5
7.8
215.6
52.1
40.7
29.3
80.3
12.9
47.9
36.8
22.9
85.9
50.2
38.4
25.7
80.1
1 1 .8
1 2 .8
8 .6
2 .2
7.7
2.3
3.0
99.3
8.7
2.3
3.1
113.6
14.8
98.3
17.8
5.4
21.5
10.1
3.6
8 .0
223.7
3.1
110.2
14.7
94.9
16.6
5.6
9.7
9.1
2 1 .8
32.6
-2.4
1 2 .2
86.7
17.5
4.7
9.1
6.4
19.6
29.8
- 1 .0
1 0 .8
9.2
2 2 .2
33.1
- 2 .6
10.3
21.5
1 0 .2
3.3
2 2 .6
1 1 .2
3.2
1 1 .0
2.7
9.3
2 2 .8
1 1 .2
3.3
3.5
8 .0
8 .2
8 .0
209.0
218.2
222.3
8 .0
2 0 1 .1
48.1
36.7
22.5
81.5
12.3
47.3
37.9
26.0
51.6
37.6
25.0
89.3
11.7
7.6
2.3
3.0
101.6
13.2
8 .2
2.3
3.0
100.3
13.0
86.9
15.3
5.0
8.4
7.1
19.5
32.0
-0.9
8 8 .0
11.7
7.9
2 .2
3.0
98.8
1 2 .0
8 6 .6
16.5
5.2
8.9
6.5
19.6
30.2
- 1.1
8 8 .0
19.3
4.2
44.7
35.2
18.3
84.8
11.4
7.2
2.3
3.0
96.4
10.9
85.3
18.7
4.3
8 .8
1 0 .2
6.3
19.7
30.1
- 1.1
5.9
19.5
26.7
-0.5
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2 005 currentdollar 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.
D-36
National Data
February 2012
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Current receipts from the rest of the w orld....................................................................
Exports of goods and services...................................................................................................
Goods 1 ..............................
Durable..
Nondurable....................
Services 1.
Income receipts.......
Wage and salary receipts
Income receipts on assets
Interest..............
Dividends..........
Reinvested earnings on U S. direct investment abroad.....................................................
Current payments to the rest of the w orld......................................................................
Imports of goods and services...................................................................................................
Goods 1 .........................................................................................................................................
DurableNondurable
Services 1 .
Income payments
Wage and salary payments........................................................................................................
Income payments on a ssets......................................................................................................
Interest......................................................................................................................................
Dividends.................................................................................................................................
Reinvested earnings on foreign direct investment in the United States..........................
Current taxes and transfer payments to the rest of the world (net)..................................
From persons (net)......................................................................................................................
From government (net)
From business (net)
Balance on current account, NIPAs.................................................................................
Addenda:
Net lending or net borrowing (-), NIPAs...................................................................................
Balance on current account, NIPAs.......................................................................................
Less: Capital account transactions (net) 2 ...........................................................................
??
?3
?4
25
26
27
28
?q
2,542.7
1,839.8
1,277.8
800.7
477.1
562.0
702.9
5.3
697.6
127.9
215.9
353.8
3,021.8
2,356.7
1,947.3
1,105.7
841.6
409.4
513.5
14.5
499.0
311.3
93.8
93.9
151.6
72.9
55.7
23.1
-479.2
30
31
3?
-479.9
-479.2
0.7
1
2
3
4
5
6
7
8
q
10
11
1?
13
14
15
16
17
18
19
?n
?1
2,087.6
1,474.4
897.9
576.5
613.2
2,665.8
2,239.5
1,234.9
1,004.6
426.2
149.3
73.8
54.0
2 1 .6
2011
I
2,664.7
1,935.3
1,353.8
836.4
517.4
581.5
729.4
5.3
724.1
132.5
210.9
380.8
3,129.4
2,435.5
2 ,0 2 2 .8
1,160.6
862.2
412.7
545.0
14.4
530.6
311.8
95.9
122.9
148.9
72.5
55.7
II
2,776.2
2,024.1
1,431.0
869.1
561.9
593.2
752.1
5.4
746.7
134.8
248.1
363.8
3,269.7
2,595.4
2,176.2
1,214.2
962.0
419.3
525.0
1 44
5106
309 5
98.5
III
IV
2,911.5
2,119.2
1,496.6
917.0
579.6
622.6
792.2
5.4
786.8
1364
313.5
3368
3,353.7
2,681.6
2,251.9
1,246.2
1,005.7
429.7
524.9
144
510 5
311 0
102.7
96.8
147.2
73.8
51.3
-464.7
149.3
73.5
54.5
21.4
-493.5
2,888.5
2,085.3
1,473.5
893.0
580.6
611.7
803.2
5.4
797.8
136.9
259.9
401.0
3,381.5
2,682.4
2,257.3
1,223.7
1,033.6
425.1
542.0
144
527 6
312 1
116.6
98.9
157.1
73.5
62.0
21.5
-493.0
-465.3
-464.7
0.5
-494.0
-493.5
0.5
-496.7
-493.0
3.7
-442 7
-442 2
04
2 0 .8
1 0 2 .6
2 2 .1
2,121.6
1,496.4
912.5
583.9
625.1
2,703.6
2,272.7
1,255.4
1,017.3
431.0
143.7
74.2
48.0
21.4
-442.2
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 reclassi
fied from goods to sen/ices.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets. Prior to 1982, reflects only capital grants paid to the U.S. territories and the Commonwealths of Puerto Rico and
Northern Mariana Islands.
February 2012
Survey
D-37
C u r r e n t B u s in e s s
of
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
Table 4.2.2. Contributions to Percent Change in Real Exports and in
Real Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
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........................................
O th er...........................................
Automotive vehicles, engines, and
p a rts............................................
Consumer goods, except
automotive..................................
Durable goods............................
Nondurable goods.....................
O th e r...............................................
Exports of services 1 ......................
Transfers under U.S. military
agency sales contracts.............
Travel...............................................
Passenger fares..............................
Other transportation......................
Royalties and license fees............
Other private services...................
O th er...............................................
Imports of goods and
services.................................
Imports of goods 1..........................
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.......................................
O th er...........................................
Automotive vehicles, engines, and
parts............................................
Consumer goods, except
automotive..................................
Durable goods...........................
Nondurable goods.....................
O th er...............................................
Imports of services 1.......................
Direct defense expenditures.........
Travel...............................................
Passenger fares..............................
Other transportation......................
Royalties and license fees............
Other private services...................
O th er...............................................
Addenda:
Exports of durable goods.............
Exports of nondurable goods.......
Exports of agricultural goods 2 ....
Exports of nonagricultural goods
Imports of durable goods..............
Imports of nondurable goods........
Imports of nonpetroleum g oods...
1
2
3
4
5
6
7
11.3
14.4
10.4
15.6
16.9
14.9
14.0
6.8
7.5
-1.9
6.7
4.4
7.8
10.5
7.8
9.2
22.3
11.1
11.9
1 0 .8
10.4
II
III
1 .0
0 .0
-9.1
15.7
6.4
4.7
5.0
4.6
9.5
-7.3
17.4
1 0 .1
1 .6
47.5
1.9
17.0
2.4
-6.3
7.6
- 6 .1
-9.3
9
19.2
18.8
17.5
13.7
13.9
2 1 .2
6.1
2 2 .8
1 0 .2
14.0
4.7
5.0
-19.5
4.4
-
1 .0
1 .8
11
36.3
16.4
6.1
48.2
- 1 .0
28.0
-10.4
12
9.4
17.7
5.2
9.6
18.7
14.9
23.3
-42.3
4.7
-10.5
5.7
-27.0
90.0
1.7
15.2
11.9
19.6
-23.5
6.2
1.5
14.7
- 0.1
3.7
- 8 .6
4.0
25.5
8.4
3.9
-25.5
5.6
- 1 .0
4.5
9.6
6.3
-1.7
0.4
4.3
28.6
13.4
7.3
-5.5
5.3
4.5
2.5
-4.9
5.0
13
14
15
16
1.1
0.1
-1.4
5.0
1.5
5.1
17
18
19
1 .6
6 .6
2 .0
6.3
7.1
20
21
22
8.3
7.2
4.3
-5.6
23
0 .6
2 .6
6 .6
1 1 .2
6.4
-4.4
- 8 .2
3.6
7.5
2.4
-5.6
14.4
5.4
4.5
8 .6
1.4
1.6
3.8
1.2
0.5
4.8
4.4
4.1
22.7
0 .6
-3.0
4.3
2 .6
6.1
-1.7
9.5
-2.7
-2.3
-0.5
-14.1
8.3
9.5
0 .8
24
25
26
12.5
14.8
2 .2
5.0
5.8
2.7
27
28
29
30
31
14.6
14.5
14.7
0.4
21.5
7.5
9.7
5.3
-1.5
13.6
-13.2
- 1 1 .0
-15.3
-19.3
12.9
20.3
47.2
- 2 .8
13.2
11.4
23.5
11.9
37.4
-11.3
16.8
-2.5
- 8 .2
3.9
-5.8
1.9
- 1 1 .8
- 1 2 .2
-11.4
10.3
9.1
32
- 0 .8
8 .2
7.1
0 .2
7.7
-12.4
94.6
33
34
26.9
22.3
7.8
16.6
-5.6
0 .8
16.3
52.2
7.7
- 1 .8
4.6
8 .8
2 1 .1
35
40.8
1 0 .0
-4.9
40.2
-37.7
70.6
- 1.1
36
37
38
39
40
41
42
43
44
4b
46
47
12.5
15.9
8.9
14.3
2.9
2.5
- 0 .1
-4.6
11.9
4.8
4.1
5.5
-9.5
1.1
-9.1
0.3
8 .6
2 .6
7.7
9.6
-64.9
2.2
-7.0
-5.7
7.8
4.8
-5.3
17.6
54.2
0.4
-17.1
5.3
- 1 1.1
- 1 2 .0
- 1 0 .0
-37.1
4.8
-5.0
6 .2
1 0 .6
2 .1
3.2
2.4
-5.7
4.6
- 2 .6
15.2
5.2
-1.4
10.4
-13.0
36.3
5.6
9.1
- 0 .2
- 6 .2
7.9
13.6
7.9
-1.5
48
49
50
b1
b2
53
54
-1.4
16.9
1 0 .2
1 0 .8
14.7
22.4
5.7
18.2
0 .2
-2.3
109.6
-10.4
-23.4
- 6 .2
6.3
1 .6
1.1
-28.7
7.1
- 8 .8
- 6 .8
9.9
3.9
-3.0
8 .8
8.1
1 1 .0
2 1 .0
8 .0
9.3
1.3
7.6
6.4
-9.2
4.0
2 1 .8
1.9
2 .8
- 2 0 .8
1.4
2.9
0.5
-9.4
1 2 .8
8 .6
7.1
-0.3
11.9
14.6
3.2
8.7
- 6 .2
-17.9
5.1
-1.4
5.3
5.2
8 .0
12.1
3.1
9.0
- 1 .0
-24.9
- 1 .0
15.2
8 .6
4.5
5.1
2.9
6.3
- 6 .0
2.3
1 0 .2
2 .6
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.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
2011
2010
IV
3.6
2.5
-7.4
- 6 .2
8
2010
IV
7.9
10.6
-9.6
15.3
6.3
19.7
4.9
19.7
10
Line
2011
I
Percent change at annual rate:
Exports of goods and
services.................................
Percentage points at annual rates:
Exports of goods 1 ..........................
Foods, feeds, and beverages........
Industrial supplies and materials
Durable g oods...........................
Nondurable g oods.....................
Capital goods, except automotive
Civilian aircraft, engines, and
p a rts........................................
Computers, peripherals, and
p a rts.......................................
Other............................................
Automotive vehicles, engines, and
parts.............................................
Consumer goods, except
automotive..................................
Durable goods...........................
Nondurable g oods.....................
Other................................................
Exports of services 1.......................
Transfers under U.S. military
agency sales contracts.............
Travel................................................
Passenger fares..............................
Other transportation.......................
Royalties and license fe e s............
Other private services....................
Other................................................
Percent change at annual rate:
Imports of goods and
services.................................
Percentage points at annual rates:
Imports of goods 1...........................
Foods, feeds, and beverages........
Industrial supplies and materials,
except petroleum and products
Durable g oods...........................
Nondurable goods.....................
Petroleum and products................
Capital goods, except automotive
Civilian aircraft, engines, and
p a rts........................................
Computers, peripherals, and
p a rts.......................................
Other............................................
Automotive vehicles, engines, and
parts.............................................
Consumer goods, except
automotive..................................
Durable g oods...........................
Nondurable g oods.....................
Other................................................
Imports of services 1.......................
Direct defense expenditures.........
Travel................................................
Passenger fares..............................
Other transportation.......................
Royalties and license fe e s............
Other private services....................
Other................................................
2011
I
II
IV
III
1
11.3
6.8
7.8
7.9
3.6
4.7
4.7
2
5.26
-0.15
1.47
0.30
1.17
2.47
6.36
1.25
2.31
0.78
1.53
2.49
7.33
-0.61
3.30
0.44
1.18
1.79
-0.47
-1.48
0.07
-1.55
3.43
3.51
-1.29
1.04
7
9.69
0.61
3.02
1.06
1.97
3.38
3.54
0.27
2.16
-0.52
2.67
0.39
8
-0.29
0.29
-0.24
-0.36
0 .6 6
1.51
0.08
9
0.44
3.23
0.39
1.79
0.31
2.42
0.46
1.08
0.48
2.29
0.37
0.42
- 0 .0 2
0.33
11
1.84
0.97
0.37
2.47
-0.06
1.58
-0.70
12
0 .8 8
0 .8 8
0.05
1.54
-1.64
1.45
0.53
0.67
-0.83
1.77
0 .0 0
0 .0 0
-0.95
0.28
-1.23
1.95
0.52
0.13
0.82
0.05
-0.05
1.64
1.57
0.69
1 .2 0
13
14
15
16
0.45
0.45
- 0 .0 1
0.24
0.15
0.13
-0.09
0.05
0.04
3
4
5
6
10
2 .8 6
0 .0 0
1.04
2.31
1.19
0.30
0.14
-0.26
1.15
0 .8 8
0.05
-0.25
-0.16
0 .0 2
-0.04
0.27
0.19
0.07
0.39
0.31
-0.04
0.24
1.13
0 .0 1
0 .0 0
0.35
23
0.39
0.04
0.19
0.44
0.63
-0.06
- 0 .0 1
-0.24
0.31
0.04
-0.06
0.15
1.27
- 0 .0 2
24
12.5
5.0
-2.3
8.3
1.4
1.2
4.4
25
26
11.97
0.09
4.81
0 .1 1
-0.42
-0.59
7.92
0.34
1.31
0.15
0.46
0.19
3.50
0.85
27
28
29
30
31
1.49
0.73
0.76
0.06
3.93
0.81
0.52
0.29
-0.25
2.54
-1.48
-0.62
- 0 .8 6
-3.10
2.38
2.04
2.17
-0.13
2.37
0.65
1.72
-0.28
-0.50
2 .0 2
2.14
- 2 .1 1
2.97
-1.05
0.36
-1.38
-0.72
-0.67
1.71
1.71
32
- 0 .0 1
0 .1 1
0.09
0 .0 0
0.09
-0.17
0.90
33
34
1.23
2.71
0.34
2.09
-0.27
2.56
0.04
2.09
1.89
0.99
-0.08
0.61
0.39
0.42
17
18
19
20
21
22
0 .1 2
0 .0 1
0.24
0.83
0.19
0.70
0 .1 2
- 0 .1 2
0.28
0.58
0 .2 1
0 .0 2
0.74
0.70
0.03
35
3.20
0.95
-0.49
3.36
-4.39
4.98
- 0 .1 1
36
37
38
39
40
41
42
43
44
45
46
47
2 .6 6
0.06
0.28
1.72
0.84
0 .0 0
0 .0 0
-0.06
0.26
0.16
0.18
- 0 .0 1
0.07
0 .0 2
0 .0 2
-0.73
0.09
-0.69
-0.03
0.93
-0.57
1.51
1.38
0.07
- 0 .2 1
0.15
0.07
0.03
0.04
0.03
-0.04
-2.28
-1.30
-0.98
-1.46
0.75
-0.06
0.23
0.05
-0.05
0.19
0.35
0.05
-0.25
1.76
0.90
0.54
0.56
0.04
0.98
0.46
0.52
-0.34
0.17
-0.13
0.04
0.18
-0.03
- 0 .2 2
2.81
-1.89
-0.35
- 0 .2 0
0 .8 8
-3.71
0.38
-0.09
-0.18
0.09
0.42
0.03
0 .2 1
- 0 .1 0
1 .0 2
-1.27
0.96
0.88
0.09
- 0 .0 1
-0.08
0.16
0.17
0.54
- 0 .0 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.
D-38
National Data
February 2012
Table 4.2.3. Real Exports and Imports of Goods and Services
by Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports
of Goods and Services by Type of Product
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
IV
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....................................
O ther........................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O th er............................................
Exports of services 1 ...................
Transfers under U.S. military
agency sales contracts..........
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
Imports of goods and
services..............................
Imports of goods 1.......................
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....................................
O ther........................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O ther............................................
Imports of services 1....................
Direct defense expenditures......
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
Addenda:
Exports of durable goods..........
Exports of nondurable g oods....
Exports of agricultural goods 2
Exports of nonagricultural
goods........................................
Imports of durable goods...........
Imports of nondurable goods....
Imports of nonpetroleum goods
Seasonally adjusted
Line
2011
2010
I
II
III
127.444 136.112 131.551 134.061 135.240 136.789 138.358
128.564 138.256 132.984 136.363 137.206 138.874 140.579
3 131.908 129.404 137.888 134.452 131.895 124.928 126.342
1
4 141.250 150.775 145.603 150.894 148.509 150.120 153.575
5 129.641 135.341 133.692 135.739 136.068 136.063 133.495
6 147.725 159.244 152.243 159.238 155.480 157.893 164.363
7 124.757 137.846 130.786 132.346 137.265 140.612 141.162
104.773 112.691 106.021 103.464 108.214 119.256 119.830
9 130.989 153.949 138.423 145.241 152.905 159.018 158.633
129.293 142.490 136.429 138.448 143.055 143.901 144.557
10
11
108.656 126.444 112.057 123.632 123.334 131.173 127.636
12
134.492
137.543
131.062
104.905
125.030
141.421
150.684
131.214
106.445
131.392
140.066
144.949
134.613
95.871
128.433
136.230
146.968
124.430
112.556
128.977
141.140
151.144
130.133
105.262
130.926
141.679
151.096
131.306
102.936
132.204
146.633
153.528
138.989
105.026
133.463
17 78.338 78.818
18 113.364 120.454
19 120.887 129.494
85.464 86.016
20
21 147.671 154.028
2 2 139.905 148.486
23 101.036 99.324
75.518
115.979
123.906
85.201
150.515
146.206
98.275
75.335
117.257
126.773
86.508
149.877
146.340
99.314
80.227
120.994
129.029
85.292
151.811
147.964
99.923
79.232
122.467
132.491
86.042
154.569
148.829
98.488
80.477
121.098
129.682
13
14
15
16
8 6 .2 2 2
159.857
150.810
99.572
24 102.821 107.934 105.091 107.207 107.573 107.897 109.058
25 101.248 107.118 104.065 106.464 106.875 107.020 108.113
26 103.928 106.723 101.858 103.978 104.963 106.194 111.755
27
28
29
30
81.171
73.250
90.410
90.100
87.241
80.319
95.188
88.745
80.931
72.748
90.526
88.093
84.753
80.124
89.881
90.876
89.352
82.410
97.312
88.191
88.799
80.660
98.239
86.878
86.061
78.084
95.318
89.035
31 122.182 138.837 130.216 133.771 139.072 139.719 142.788
32
96.589 104.556 100.306 100.346 102.218
98.878 116.780
33 164.187 176.931 162.507 162.851 180.889 180.078 183.907
34 113.043 131.756 124.156 128.944 131.363 132.857 133.861
35
89.325
98.273
36
37
38
39
40
41
42
43
44
45
46
47
113.830
114.604
112.961
85.168
111.742
88.243
93.011
76.293
79.801
122.419
160.348
94.900
119.246
119.270
119.222
77.051
112.937
80.192
93.203
81.070
80.678
126.336
164.230
89.482
92.254 100.385
117.586
119.428
115.509
95.824
111.185
84.633
92.769
78.538
76.487
121.832
161.142
95.329
120.033
121.674
118.180
73.748
111.798
83.116
91.428
80.030
80.346
122.420
162.269
89.943
89.171 101.911 101.624
121.457
120.019
123.071
82.179
111.918
79.312
92.610
81.239
80.633
123.298
162.465
87.743
117.949
116.238
119.871
73.192
113.243
78.306
94.412
82.164
80.098
127.747
164.518
90.288
117.545
119.151
115.767
79.085
114.788
80.037
94.361
80.849
81.635
131.879
167.669
89.953
48 123.488 135.675 128.315 132.237 134.985 137.913 137.564
49 137.667 143.101 141.286 143.730 141.439 141.079 146.156
50 132.641 128.679 137.538 137.418 130.794 121.761 124.744
51 128.067 139.291 132.425 136.193 137.888 140.760 142.322
52 103.937 113.604 108.898 112.682 112.284 114.005 115.445
53 96.958 98.247 97.099 97.876 99.148 97.628 98.334
54 103.258 111.063 107.255 109.513 110.922 111.549 112.269
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.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
2011
IV
2
8
2010
2010
IV
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
p a rts...................................
Computers, peripherals, and
p a rts...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
Exports of services 1...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Imports of goods and
services............................
Imports of goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable g oods.......................
Nondurable g oods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p arts...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Imports of services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
2011
I
II
III
IV
1 110.617 117.546 112.757 115.725 118.182 118.747 117.529
109.690 117.734 112.396 115.859 118.572 118.981 117.525
3 138.496 164.461 150.810 162.020 165.192 166.919 163.712
2
4 120.945 141.747 127.233 136.920 144.868 144.848 140.354
5 117.602 129.970 121.714 127.929 130.624 131.919 129.409
6 122.679 147.642 130.045 141.439 151.969 151.301 145.857
7
8
9
10
99.874
99.457
99.454
99.150
99.362
99.677
99.640
122.912 127.262 124.563 125.700 126.655 127.723 128.969
73.457
99.556
69.518
98.978
72.061
98.950
70.537
98.634
70.339
98.799
69.031
99.292
68.166
99.186
11
104.736 106.487 105.046 105.358 106.014 106.868 107.708
12
106.988
103.477
111.182
114.247
112.669
108.141
104.325
112.727
117.374
113.494
107.960
104.584
111.966
121.310
115.282
108.373
104.672
112.822
124.353
117.125
108.978
105.087
113.679
124.892
118.058
108.577
105.242
112.548
123.367
117.413
17 109.578 111.490 109.986
18 111.619 117.277 112.555
19 122.018 135.102 123.071
2 0 113.196 120.650 115.104
21 111.033 113.637 111.516
2 2 111.792 115.065 112.581
23 129.636 130.001 129.271
110.502
114.940
125.827
117.928
112.589
114.130
132.913
111.504
117.435
134.863
121.776
113.525
115.236
130.336
111.873
118.854
141.949
121.690
114.102
115.706
128.984
112.081
117.880
137.770
121.204
114.330
115.188
127.773
13
14
15
16
108.472
104.896
112.754
123.480
116.969
24 113.032 121.774 114.271 119.370 122.949 122.543 122.236
25 112.607 122.373 113.780 119.647 123.632 123.168 123.047
26 130.671 149.792 137.904 146.162 153.420 150.133 149.454
27
28
29
30
115.974
125.750
106.467
155.872
127.706
138.129
117.604
207.700
118.005
129.297
107.219
161.342
125.869
136.841
115.304
194.636
128.901
140.029
118.182
216.017
129.817
140.346
119.613
209.183
126.235
135.300
117.318
210.963
31
96.727
96.951
96.712
96.905
97.084
97.087
96.730
32 125.628 129.880 126.599 127.884 130.033 130.411 131.193
33 76.537 72.776
34 101.912 103.683
75.882
1 0 2 .1 2 0
74.343 73.200 72.221 71.342
103.017 103.664 104.117 103.933
35 105.472 108.674 106.078 106.557 109.017 109.465 109.659
36
37
38
39
40
41
42
43
44
45
46
47
105.624
102.510
109.334
119.962
118.013
121.216
120.723
146.874
109.173
1 1 1 .0 2 0 113.629
115.139 116.809
112.754 116.809
103.866
101.514
106.666
115.190
114.560
114.514
117.704
136.737
103.594
103.449
100.337
107.167
116.211
116.066
117.213
119.119
141.562
106.933
111.508
115.669
114.008
104.236
101.244
107.805
118.047
117.261
119.162
120.156
144.529
108.110
112.581
116.587
115.593
105.114
102.389
108.365
119.976
118.754
124.034
121.742
145.186
111.241
113.517
117.207
117.513
106.116
103.096
109.710
121.132
118.640
122.566
121.279
148.270
110.118
114.095
117.170
117.697
107.029
103.311
111.457
120.693
117.396
119.101
119.715
149.509
107.225
114.323
116.271
116.434
48 103.771 105.908 104.324 105.187 105.871 106.411 106.164
49 123.219 143.344 130.272 139.066 146.029 146.159 142.123
50 138.227 166.818 152.655 166.891 169.059 167.719 163.605
51
52
53
54
107.566
103.755
127.151
105.988
113.977
106.005
149.782
109.789
109.348
103.935
130.079
106.607
111.964
105.086
143.970
108.538
114.717
106.284
152.712
110.060
115.250
106.600
150.904
110.467
113.978
106.050
151.541
110.089
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.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
February 2012
S urvey
of
D-39
C u r r e n t B u s in e s s
Table 4.2.5. Exports and Imports of Goods and Services
by Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services
by Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
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
p arts....................................
Computers, peripherals, and
parts....................................
O th er........................................
Automotive vehicles, engines,
and p arts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O th er............................................
Exports of services 1 ...................
Transfers under U.S. military
agency sales contracts..........
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
Imports of goods and
services..............................
Imports of goods 1.......................
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....................................
O th er.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O th er............................................
Imports of services 1....................
Direct defense expenditures......
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods.......................................
Imports of durable goods...........
Imports of nondurable goods....
Imports of nonpetroleum goods
2010
2011
2010
Seasonally adjusted at annual rates
Line
2011
IV
I
II
III
IV
1,839.8
1,277.8
107.7
2,087.6
1,474.4
125.2
1,935.3
1,353.8
122.4
2,024.1
1,431.0
128.2
2,085.3
1,473.5
128.2
2,119.2
1,496.6
122.7
2,121.6
1,496.4
121.7
6
388.7
125.3
263.4
485.9
144.5
341.3
421.2
133.7
287.5
469.8
142.7
327.1
489.2
146.0
343.1
494.4
147.5
346.9
490.1
141.9
348.2
7
446.6
491.5
466.3
470.4
488.9
502.4
504.2
8
72.0
80.2
73.8
72.7
76.6
85.1
86.4
9
10
43.8
330.8
48.7
362.6
45.5
347.0
46.7
351.0
49.0
363.3
50.0
367.3
49.3
368.6
11
1 1 2 .0
132.5
115.8
128.2
128.7
137.9
135.3
12
165.9
88.4
77.5
56.9
562.0
176.8
98.1
78.7
62.5
613.2
174.6
93.9
80.7
53.5
581.5
169.5
95.4
74.1
64.9
593.2
176.3
98.2
78.1
62.2
611.7
178.0
98.6
79.4
61.1
622.6
183.5
100.3
83.2
61.6
625.1
15.5
103.5
30.9
39.9
105.6
250.3
16.2
15.9
115.6
36.7
42.8
112.7
273.4
16.0
15.0
106.8
32.0
40.5
108.1
263.4
15.7
15.1
16.2
116.2
36.5
42.9
16.0
119.1
39.4
43.2
113.6
275.6
15.7
16.3
116.8
37.5
43.1
117.7
278.0
15.8
1
2
3
4
5
13
14
15
16
17
18
19
20
21
22
23
1 1 0 .2
33.4
42.1
108.7
267.3
16.3
1 1 1 .0
272.9
16.1
24
25
26
2,356.7
1,947.3
92.5
2,665.8
2,239.5
108.9
2,435.5
2,022.8
95.7
2,595.4
2,176.2
103.5
2,682.4
2,257.3
109.7
2,681.6
2,251.9
108.6
2,703.6
2,272.7
113.8
27
28
29
30
250.4
125.3
125.2
353.7
296.6
150.9
145.7
464.0
254.2
127.9
126.3
358.0
283.9
149.1
134.8
445.5
306.5
156.9
149.6
479.8
306.8
154.0
152.8
457.7
289.1
143.7
145.5
473.1
31
450.0
512.5
479.5
493.6
514.1
516.5
525.9
32
31.2
35.0
32.7
33.0
34.2
33.2
39.4
33
34
117.3
301.5
1 2 0 .0
357.5
115.0
331.8
112.9
347.6
123.5
356.4
121.3
362.0
122.4
364.1
35
225.6
255.7
234.3
256.1
232.8
267.1
266.9
36
37
38
39
40
41
42
43
44
45
46
47
486.6
260.6
225.9
500.6
268.6
232.1
100.5
412.7
29.9
76.2
29.0
50.7
33.4
182.3
1 0 .6
515.1
268.6
246.6
80.0
429.7
28.9
79.0
31.8
54.6
35.9
188.6
10.9
517.8
275.9
241.9
1 1.1
514.9
276.1
238.9
78.6
419.3
29.8
75.8
30.2
53.8
33.9
185.1
10.7
525.5
275.4
250.0
89.0
425.1
29.6
77.8
30.8
55.6
34.4
186.3
1 1 .0
518.3
274.0
244.3
83.4
426.2
29.3
77.6
31.1
54.6
35.3
187.7
10.7
431.0
28.7
77.9
31.6
54.2
37.1
190.7
10.7
48
49
50
800.7
477.1
119.0
897.9
576.5
139.1
836.4
517.4
136.0
869.1
561.9
148.6
893.0
580.6
143.3
917.0
579.6
132.3
912.5
583.9
132.2
1,217.8
1,160.6
862.2
1,664.9
1,282.4
1,214.2
962.0
1,730.7
1,364.3
1,246.2
1,005.7
1,794.2
1,364.2
1,255.4
1,017.3
1,799.6
51
52
53
54
8 8 .6
409.4
30.4
75.5
27.3
51.2
33.5
180.6
1,158.8
1,105.7
841.6
1,593.6
1,335.3
1,234.9
1,004.6
1,775.5
1,330.3
1,223.7
1,033.6
1,777.5
8 6 .2
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.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
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
p a rts ...................................
Computers, peripherals, and
2010
2011
2010
2011
IV
I
II
III
IV
1,785.2
1,258.3
73.7
1,805.6
1,273.8
74.5
341.5
1,663.2
1,164.9
77.8
1,776.3
1,252.7
76.3
1,716.8
1,204.9
81.3
1,749.6
1,235.6
79.3
1,765.0
1,243.2
77.8
321.4
106.6
214.7
343.0
331.3
109.9
343.3
337.9
1 1 1 .2
1 1 1 .6
1 1 1 .8
1 1 1 .8
6
231.4
2 2 1 .2
231.4
225.9
229.5
349.4
109.7
238.9
/
447.2
494.1
468.8
474.4
492.0
504.0
506.0
8
58.6
63.0
59.3
57.8
60.5
66.7
67.0
10
332.3
366.2
350.6
355.8
367.7
369.8
371.5
11
106.9
124.4
110.3
121.7
121.4
129.1
125.6
12
155.0
85.4
69.7
49.8
498.8
163.0
93.6
69.8
50.6
524.2
161.5
90.0
71.6
45.5
512.4
157.1
91.2
162.7
93.8
69.2
50.0
522.4
163.3
93.8
69.9
48.9
527.5
169.0
95.3
73.9
49.9
532.5
14.2
92.7
25.3
35.3
95.1
223.9
12.5
13.7
94.9
26.0
35.2
96.9
234.0
14.3
2 .8
14.3
98.5
27.2
35.5
99.2
237.7
12.3
-5.0
- 8 .1
14.6
99.1
27.2
35.6
102.9
241.4
12.3
- 6 .0
26
27
2,085.0
1,729.3
70.8
2,188.7
1,829.6
72.7
2,131.0
1,777.4
69.4
2,173.9
1,818.4
70.8
2,181.4 2,187.9
1,825.4 1,827.9
71.5
72.3
2,211.5
1,846.5
76.1
28
29
30
31
215.9
99.6
117.5
226.9
232.1
109.2
123.8
223.5
215.3
98.9
117.7
221.9
225.5
109.0
116.9
228.9
237.7
32
465.2
528.6
495.8
509.3
33
24.9
26.9
25.8
M
35
295.8
344.8
1
2
3
4
5
9
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
Exports of services 1...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Residual...........................................
Imports of goods and
services............................
Imports of goods 1.......................
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
p a rts...................................
Computers, peripherals, and
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Imports of services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Residual...........................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 3
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
13
14
15
16
17
18
19
20
21
22
23
24
2b
1 2 .2
1 .2
6 6 .2
53.5
514.6
13.6
95.9
26.6
35.7
96.5
234.2
12.3
0 .2
14.5
99.0
27.1
35.2
97.8
236.8
12.4
-5.5
1 0 0 .2
27.8
35.5
99.5
238.2
1 2 .2
2 2 2 .1
236.2
109.7
127.7
218.8
228.9
106.2
123.9
224.2
529.5
532.0
543.7
25.8
26.3
25.5
30.1
324.9
337.4
343.8
347.7
350.3
1 1 2 .1
126.5
36
213.9
235.3
220.9
240.4
213.5
244.0
243.3
3/
38
39
40
41
42
43
44
45
46
47
48
49
468.4
256.7
499.8
268.9
230.8
74.2
357.9
23.9
63.9
485.4
260.4
224.8
483.7
266.9
217.1
71.4
367.1
24.1
65.1
2 0 .0
2 1 .2
49.4
30.1
156.9
9.7
-19.8
50.0
31.1
160.6
9.2
-33.5
483.9
267.5
216.6
86.5
355.6
25.5
64.0
20.5
47.4
30.0
157.6
9.8
-25.5
494.0
272.6
76.9
357.4
26.5
64.2
490.7
267.2
223.6
69.6
361.2
24.1
64.3
50
51
52
771.6
387.2
8 6 .1
847.8
402.4
83.5
801.8
397.3
89.2
53
54
55
56
1,077.3
1,065.7
661.9
1,503.6
1,171.7
1,164.8
670.7
1,617.2
1,114.0
1,116.6
662.8
1,561.8
2 1 1 .8
2 2 1 .6
6 6 .6
6 6 .1
49.9
30.3
158.9
9.0
-34.2
362.2
23.6
65.1
21.5
49.6
31.4
160.9
9.3
-38.5
826.3
404.2
89.2
843.5
397.8
84.9
861.8
396.8
79.0
859.6
411.0
80.9
1,145.6
1,155.4
1,159.9
1,151.3
676.8
1,615.2
1,184.1
1,169.0
666.4
1,624.3
1,197.2
1,183.7
671.3
1,634.8
357.5
25.0
63.1
20.9
49.8
30.1
158.7
9.2
-24.9
6 6 8 .1
1,594.6
2 1 .2
2 1 .1
50.6
32.5
164.0
9.2
-36.2
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.
2. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggre
gate series; accurate estimates of these contributions are shown in table 4.2.2 and real growth rates are shown in table
4.2.1.
3. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
N ote. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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. For exports and for
imports, the residual line is the difference between the aggregate line and the sum of the most detailed lines.
February 2012
National Data
D-40
5. Saving and Investment
Table 5.1. Saving and Investment by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2010
2011
2011
IV
Gross saving............................................................................................................................
1
?
4
5
Inventory valuation adjustment, corporate........................................................................
Capital consumption adjustment, corporate.....................................................................
Households and institutions....
Personal saving....................
Wage accruals less disbursements
Net government saving...............
Consumption of fixed capital
Private...............................
Domestic business......
Households and institutions
Government...................................................................................................................................
Federal........................................................................................................................................
State and local...........................................................................................................................
6
/
8
9
10
11
V?
13
14
15
16
17
18
19
20
Net lending or net borrowing (-), NIPAs
106.6
505.3
505.3
0 .0
0 .0
0 .0
0 .0
1,950.0
1,597.8
1,294.4
303.3
352.2
137.9
214.3
-1,322.8
-1,287.3
-35.5
1,896.1
1,557.0
1,258.7
298.4
339.1
132.3
206.8
-1,258.3
- 1 ,2 0 1 .1
-57.2
1,914.3
1,570.5
1,270.1
300.4
343.8
134.6
209.2
1,843.2
2,336.7
1,853.1
1,454.7
398.4
483.6
160.9
322.8
0.5
-67.8
-23.8
-44.0
68.4
125.5
-57.1
-494.0
972.5
447.5
525.0
-1,466.5
-1,352.8
-113.7
-1,299.0
-1,273.7
-25.3
1,874.9
1,540.9
1,245.7
295.2
334.0
130.0
204.0
III
1,901.1
-61.8
1,193.8
737.3
680.1
-45.5
102.7
456.5
456.5
IV
429.3
429.3
0 .0
0 .0
0 .0
-1,315.6
-1,275.4
-40.2
1,939.9
1,590.5
1,287.8
302.7
349.4
136.8
2 1 2 .6
-1,255.6
-1,172.4
-83.2
1,962.8
1,607.6
1,303.2
304.4
355.2
139.2
216.1
1,983.0
1,622.5
1,316.7
305.8
360.4
141.0
219.4
1,880.5
2,373.5
1,895.3
1,490.0
405.3
478.2
159.6
318.6
3.7
-87.3
-46.0
-41.3
91.0
151.2
-60.2
-496.7
1,038.7
543.5
495.2
-1,535.4
-1,449.4
- 8 6 .0
1,950.7
2,392.9
1,906.6
1,498.4
408.2
486.3
164.0
322.3
0.4
-85.3
-37.6
-47.7
85.7
149.2
-63.5
-442.7
1,029.7
629.3
400.4
-1,472.4
-1,346.4
-125.9
23
24
25
26
27
28
?9
3(1
31
3?
33
34
3^
36
37
38
39
40
41
4?
149.8
-63.8
-479.9
1,076.4
541.0
535.4
-1,556.3
-1,462.3
-94.0
43
0.8
24.5
-52.0
-10.0
49.6
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
2,785.4
1,897.4
2,809.7
1,930.4
879.3
-914.5
-1,066.5
152.0
422.4
282.6
184.6
98.0
139.8
26.3
113.6
12.5
-0.1
0.0
2,856.6
1,997.4
859.2
-966.2
-1,138.6
172.4
433.6
304.8
0.0
2,823.0
1,936.6
886.4
-983.7
-1,154.9
171.3
432.4
260.9
158.4
102.5
171.4
42.4
129.1
12.3
-0.4
0.0
106.0
12.4
-0.3
0.0
2,801.4
2,040.5
760.9
-900.3
-1,033.2
132.9
430.1
299.0
195.2
103.8
131.1
24.8
106.3
12.3
-0.4
0.0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
22
1,821.3
2,300.4
1,795.1
1,388.6
406.5
505.3
168.8
336.5
0.7
-85.3
-31.4
-53.9
II
1,890.5
-49.4
1,266.2
709.6
662.7
-60.4
107.3
556.5
556.5
1,863.8
2,328.5
1,818.0
1,417.1
400.9
510.5
174.7
335.9
0.5
-60.1
5.3
-65.4
60.7
129.6
-68.9
-465.3
1,089.6
538.6
551.0
-1,554.9
-1,459.2
-95.7
?1
Gross domestic investment..........................................................................................................
Gross private domestic investment.............................................................................................
Domestic business......
Households and institutions.....................................................................................................
Gross government investment
Federal.........................
State and local............
I
1,839.3
-56.8
1,266.0
677.9
563.0
-90.3
205.2
588.1
588.1
1,895.2
-19.1
1,239.2
660.3
660.9
-116.0
115.4
578.9
578.9
1,820.5
-54.5
1,244.5
651.7
671.1
-39.1
19.7
592.8
592.8
2,395.9
1,913.6
1,507.2
406.4
482.3
160.2
322.0
8 6 .0
1 0 0 .8
2,480.6
1,999.7
1,585.8
413.9
480.9
156.5
324.4
Addenda:
Households and institutions
Gross government saving
Net domestic investment.
Private.........................................................................................................................................
Domestic business..
Households and institutions
..........................................................
Government................
Federal.....................
State and local...........................................................
Gross saving as a percentage of gross national income
Net saving as a percentage of gross national income
Disaster losses2..............................................................
Private..............................................................................
Domestic business................................................................................................................
Households and institutions
Government................
Federal.....................
State and local
8 8 8 .0
-964.9
-1,143.6
178.7
425.5
254.2
143.0
111.3
171.3
38.8
132.5
12.4
-0.4
0.0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
808.6
445.9
315.9
2 1 2 .8
103.1
130.0
22.3
107.7
2 0 2 .2
1 0 2 .6
128.8
2 2 .8
735.2
497.6
377.2
269.1
108.1
120.5
15.4
105.0
0.0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets. Prior to 1982, reflects only capital grants paid to the U.S. territories and the Commonwealths of Puerto Rico and
Northern Mariana Islands.
2. Consists of damages to fixed assets.
February
2012
S urvey
of
C u r r e n t B u s in e s s
D -4 1
Table 5.3.1. Percent Change From Preceding Period in Real Private Fixed Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2011
2010
2010
2011
IV
Private fixed investment......................................................................................................
Nonresidential................................................................................................................................
Structures....................
Commercial and health care
Manufacturing..........
Power and communication
Mining exploration, shafts, and wells....................................................................................
Other structures 1....
Equipment and software
Information processing equipment and software...............................................................
Computers and peripheral equipment..............................................................................
Software 2 ............
O th e r 3 ..................
Industrial equipment.
Transportation equipment......................................................................................................
Other equipm ent 4 ..................................................................................................................
Residential..........
Structures.......
Permanent site
Single family
Multifamily.
Other structures 5
Equipm ent..................................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures.......................................................................................................
Residential structures............................................................................................................
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
2.6
4.4
-15.8
-24.5
-31.8
-15.1
16.6
-26.2
14.6
9.9
30.5
2 .8
11.4
6.9
68.9
1 1 .6
-4.3
-4.6
-3.8
8 .6
-49.1
-5.1
8.1
I
II
6.6
8.6
4.1
-4.3
-10.3
6.9
21.9
-7.4
10.3
5.9
17.4
5.9
7.5
8.7
10.5
- 8 .2
-34.1
81.1
21.9
-17.9
8.1
10.9
23.0
1.2
2.1
-14.3
-19.5
-20.5
-33.3
8 .2
0 .6
8.9
9.9
2 .0
1 .6
12.9
25.2
10.4
-1.4
-1.5
-5.3
-5.7
-2.4
0 .8
4.6
-10.9
14.5
- 11.1
-15.7
^ .1
-
8 .0
1 1 .1
8.7
0.3
-6.7
-2.4
-2.6
- 0 .8
1.3
-15.0
-3.7
3.3
-9.2
IV
13.0
15.7
14.4
1 0 .8
35.6
19.6
7.5
16.2
16.2
1 2 .6
1 0 .0
9.8
3.3
1.5
6.7
1 0 .2
8.1
8 .6
6 .2
1.5
4.1
-1.9
3.9
10.4
-4.4
-9.3
-14.2
- 2 .0
13.2
22.3
1.4
3.3
1.7
-7.2
-14.9
-15.9
21.7
-19.4
2 .1
5.2
6.3
23.9
5.7
- 2 .0
1 .2
12.1
8 .0
8 .0
-6.7
- 0 .8
14.9
-0.5
4.2
4.2
-4.6
-6.4
11.7
37.8
- 0 .6
4.3
2.5
2.3
-15.2
-16.7
- 2 .0
15.0
8.5
III
9.2
10.3
22.6
22.7
55.4
13.0
33.6
-2.4
6.2
8.9
50.5
-13.0
31.8
33.0
36.7
1.3
1.2
7.6
3.6
41.6
-2.3
5.5
13.9
2 0 .2
7.5
-11.7
10.9
11.1
7.2
8.3
-0.3
13.4
3.7
0.4
5.2
8.3
16.1
7.9
14.2
- 0 .8
0 .8
-7.3
14.3
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded," or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
6 . Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Table 5.3.2. Contributions to Percent Change in Real Private Fixed Investment by Type
Seasonally adjusted at annual rates
Line
2010
2011
2011
2010
IV
Percent change at annual rate:
Private fixed investment......................................................................................................
Percentage points at annual rates:
Nonresidential................................................................................................................................
Structures...................................................................................................................................
Commercial and health care
Manufacturing.......................
Power and communication...
Mining exploration, shafts, and wells
Other structures 1 ...................................................................................................................
Equipment and softw are................................
Information processing equipment and software
Computers and peripheral equipment
Software 2 ..................................................
O th e r 3 .................................................................................................................................
Industrial equipment.
Transportation equipment......................................................................................................
Other equipm ent4 ...
Residential.......................
Structures...................................................................................................................................
Permanent site
Single family
Multifamily
Other structures 5
Equipm ent..................................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ...
Nonresidential structures..............................
Residential structures...................................
I
III
II
IV
1
2.6
6.6
7.5
1.2
9.2
13.0
3.3
2
3.51
-4.18
-1.80
-1.14
-0.82
0.85
-1.28
7.69
2.92
1.33
0.42
1.17
0.64
3.01
6.91
0.89
-0.23
-0.24
0.32
1.30
-0.26
6.01
1.85
0.91
0.87
0.07
1.27
1.82
1.08
-0.27
-0.29
-0.39
-0.37
- 0 .0 2
7.02
2.22
-0.44
-0.87
1.67
-3.33
-1.07
-0.43
-1.98
0.52
-0.37
5.00
8.39
4.52
12.69
3.10
0.53
0.65
0.89
0.55
0.47
9.59
0.45
0.67
1.17
-1.39
2.98
2.59
3.57
0.28
0.25
0.49
1.44
-1.65
-0.78
-0.36
0.98
-1.56
0.06
3.09
1.82
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1 .1 2
23
-0.89
-0.93
-0.30
0.53
-0.83
-0.63
0.04
24
25
26
27
28
-5.11
7.73
-4.84
-4.14
-0.70
20
21
22
2 .8 8
0.02
1.29
-0.65
4.80
3.32
1.16
1.19
0.96
0.96
0.05
0.47
0.49
0.45
-1.15
-1.13
- 0 .0 2
1.60
0.04
0.60
6.04
0.57
2.67
4.84
1.50
0 .1 0
0 .8 8
2 .2 0
-0.31
-0.70
0 .1 0
-0.38
0.30
0.18
1.13
2.50
1.26
-0.46
-0.47
-0.05
0.07
-0.13
-0.42
0.02
-3.81
5.02
-3.62
-3.31
-0.31
1 .0 2
0.87
0.59
2 .1 1
-0.06
3.87
2.73
2.30
1.17
-0.74
-0.05
1 .2 2
-0.03
0.78
0.77
-0.31
-0.38
0.07
1.08
0.02
5.29
3.89
4.72
4.49
0.23
0 .2 1
1 .2 1
0.81
- 0 .2 0
1.99
0.63
-1.36
1.85
1.83
0.45
0.45
0.28
-0.24
0.03
1.39
0.02
3.35
9.62
2.97
3.07
-0.09
0.18
3.11
0.31
-1.67
1.98
0 .0 0
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
6 . Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
February 2012
National Data
D-42
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
IV
Private fixed investment......................................................................................................
Nonresidential................................................................................................................................
Structures....................................................................................................................................
Commercial and health care..................................................................................................
Manufacturing..........................................................................................................................
Power and communication.....................................................................................................
Mining exploration, shafts, and wells....................................................................................
Other structures 1 ...................................................................................................................
Equipment and softw are.........................................................................................................
Information processing equipment and software...............................................................
Computers and peripheral equipment..............................................................................
Software 2 ............................................................................................................................
O th e r 3 ..................................................................................................................................
Industrial equipment................................................................................................................
Transportation equipm ent......................................................................................................
Other equipm ent 4 ..................................................................................................................
Residential.......................................................................................................................................
Structures....................................................................................................................................
Permanent site........................................................................................................................
Single family.........................................................................................................................
Multifamily............................................................................................................................
Other structures 5 ...................................................................................................................
Equipm ent..................................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 .....
Nonresidential structures.................................
Residential structures......................................
2011
2010
I
II
III
IV
23
77.667
97.913
87.883
58.838
115.845
140.073
99.530
85.061
102.393
126.788
191.322
117.486
116.229
91.804
65.668
90.851
42.681
42.015
26.048
26.447
25.387
69.208
96.989
82.822
106.314
91.497
56.312
103.940
149.757
121.375
78.800
112.909
134.330
224.703
124.379
116.930
103.629
82.205
100.284
42.091
41.366
24.657
24.938
24.769
69.795
101.492
79.812
101.822
90.399
57.027
98.392
156.274
113.208
79.891
106.925
131.401
205.532
120.360
120.179
96.295
70.925
94.388
41.684
40.982
24.588
24.932
24.235
68.880
99.170
80.052
102.342
86.974
54.023
92.902
141.234
115.407
77.573
109.174
131.506
201.997
120.968
120.670
99.003
76.843
97.224
41.428
40.714
24.541
25.010
23.268
68.240
99.969
81.829
104.889
91.511
56.857
103.722
145.608
124.078
77.111
110.839
134.328
223.733
123.327
118.585
98.806
79.550
97.113
41.855
41.136
24.252
24.602
23.830
69.848
100.780
84.362
108.782
94.631
58.334
111.931
152.267
126.331
80.054
115.077
134.713
230.203
125.728
114.526
105.861
85.431
105.005
41.991
41.258
24.700
24.822
25.997
69.434
102.138
85.046
109.244
92.874
56.035
107.204
159.920
119.683
80.462
116.546
136.774
242.880
127.493
113.939
110.845
86.995
101.796
43.090
42.357
25.132
25.320
25.979
71.659
103.082
24
25
26
27
28
57.317
102.341
58.258
88.286
40.841
58.161
112.802
59.142
91.871
40.063
57.531
106.852
58.612
90.798
39.864
56.166
109.087
57.196
87.387
39.662
58.022
110.745
58.995
91.896
39.801
59.197
114.956
60.127
94.988
39.721
59.259
116.421
60.249
93.212
41.067
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers' commissions on the sale of structures.
2. Excludes software “embedded", or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
6 . Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
[Index numbers, 2005=100]
Seasonally adjusted
Line
2010
2011
2010
IV
Private fixed investment......................................................................................................
Nonresidential....................
Structures.......................
Commercial and health care..................................................................................................
Manufacturing.............
Power and communication.....................................................................................................
Mining exploration, shafts, and wells....................................................................................
Other structures 1
Equipment and softw are.........................................................................................................
Information processing equipment and software................................................................
Computers and peripheral equipment........
Software 2 ......................................................
O th e r 3 ...........................................................
Industrial equipment................................................................................................................
Transportation equipm ent......................................................................................................
Other equipm ent 4 .....
Residential..........................
Structures.......................
Permanent site........................................................................................................................
Single family
Multifamily............................................................................................................................
Other structures 5 ...................................................................................................................
Equipment
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures....................
Residential structures.........................
2011
I
II
III
IV
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
104.843
105.373
121.117
115.926
117.733
126.268
131.586
110.965
99.634
90.252
62.170
100.702
92.651
115.052
102.857
111.005
102.214
102.407
101.596
98.185
122.158
102.635
93.029
106.161
106.734
126.597
117.847
119.942
133.600
142.611
112.377
99.745
88.757
58.477
100.486
91.389
118.426
104.940
112.518
103.367
103.668
102.271
98.823
123.220
104.238
90.676
105.035
105.536
122.475
116.117
118.217
129.210
134.237
111.106
99.406
89.543
61.223
100.306
91.781
115.791
103.302
111.261
102.563
102.825
102.038
98.598
122.939
103.029
91.127
105.412
105.909
123.982
116.477
118.097
130.908
137.766
111.531
99.446
89.255
59.975
100.502
91.636
117.083
104.109
110.755
102.958
103.272
102.073
98.632
122.981
103.725
89.853
106.039
106.560
125.835
117.221
118.963
133.016
141.456
112.011
99.743
88.891
58.833
100.561
91.382
118.273
105.182
111.999
103.479
103.800
102.038
98.598
122.939
104.588
90.133
106.433
107.027
127.565
118.196
120.492
134.464
144.715
112.594
99.838
88.603
57.879
100.495
91.407
119.074
105.033
113.000
103.551
103.834
102.245
98.798
123.189
104.519
91.418
106.759
107.442
129.008
119.493
122.216
136.013
146.506
113.373
99.953
88.280
57.222
100.386
91.131
119.275
105.437
114.319
103.482
103.766
102.729
99.265
123.771
104.122
91.300
24
25
26
27
28
109.912
99.573
111.654
121.329
104.334
113.238
99.660
115.535
126.852
106.370
110.787
99.328
112.661
122.699
104.944
111.747
99.356
113.784
124.216
105.637
112.918
99.654
115.156
126.084
106.466
113.800
99.759
116.196
127.826
106.671
114.487
99.872
117.003
129.284
106.704
1
2
3
4
5
6
7
8
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers' commissions on the sale of residential structures.
6 . Excludes net purchases of used structures and brokers' commissions on the sale of structures.
February 2012
S urvey
of
D-43
C u r r e n t B u s in e s s
Table 5.3.5. Private Fixed Investment by Type
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
13
14
15
16
17
18
19
1,728.2
1,390.1
374.4
92.7
40.8
79.9
100.9
60.2
1,015.7
543.8
93.8
257.9
192.1
168.6
122.7
180.5
338.1
329.2
127.2
20
21
22
2 0 2 .0
23
8.9
24
25
26
27
28
703.6
1,024.5
655.2
375.3
279.9
1
2
3
4
5
6
7
8
9
10
11
12
1,866.4
1,529.2
407.8
90.3
37.3
90.3
133.5
56.5
1,121.4
566.7
103.6
272.5
190.7
195.9
156.8
2 0 2 .0
337.2
328.2
121.3
106.8
14.4
206.9
9.1
1 1 2 .6
14.7
736.0
1,130.4
6 8 8 .6
408.6
280.0
II
1,791.1
1,460.5
379.5
85.6
32.8
83.4
1,779.3
1,447.9
389.6
90.1
34.8
91.1
117.1
56.6
1,058.3
559.3
99.3
263.2
196.8
178.0
133.1
187.9
331.3
322.5
120.7
106.6
14.1
III
8.9
CO
CO
Private fixed investment......................................................................................................
Nonresidential...................
Structures......................
Commercial and health care
Manufacturing.............
Power and communication.....................................................................................................
Mining exploration, shafts, and wells....................................................................................
Other structures 1 ....................
Equipment and software.........
Information processing equipment and software................................................................
Computers and peripheral equipment..............................................................................
Software 2 ..
O th e r 3 ........
Industrial equipment................................................................................................................
Transportation equipment.......................................................................................................
Other equipm ent 4 ...................................................................................................................
Residential
Structures
Permanent s ite ........................................................................................................................
Single fam ily........................................................................................................................
Multifamily............................................................................................................................
Other structures 5 ....................................................................................................................
Equipment...................................................................................................................................
Addenda:
Private fixed investment in structures.......................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures........................................................................................................
Residential structures.............................................................................................................
I
1,841.7
1,506.0
405.2
90.7
36.9
87.3
135.3
55.1
1,100.8
567.6
103.9
270.4
193.3
186.5
152.0
194.6
335.7
326.7
119.0
105.2
13.9
207.7
8.9
712.1
1,067.2
665.3
390.5
274.8
701.2
1,089.8
655.7
380.5
275.3
732.0
1,109.7
684.5
406.1
278.4
1 2 2 .6
55.2
1,081.0
557.9
95.6
265.1
197.3
185.0
145.4
192.7
330.6
321.7
120.5
106.9
13.5
201.3
2 0 1 .8
IV
1,905.8
1,568.7
424.8
93.8
40.3
92.3
140.9
57.5
1,143.9
567.4
105.1
275.5
186.8
1,927.1
1,581.5
421.7
91.1
39.2
98.1
135.2
58.2
1,159.9
573.9
109.7
279.0
185.2
2 0 1 .2
2 1 1 .0
163.1
212.3
337.0
327.8
121.5
106.3
15.1
206.4
9.2
166.7
208.2
345.6
336.3
124.2
109.0
15.2
752.6
1,153.1
703.9
425.6
278.4
758.0
1,169.1
710.3
422.4
287.9
2 1 2 .2
9.3
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
6 . Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2010
2011
2011
IV
Private fixed investment......................................................................................................
Nonresidential................................................................................................................................
Structures...................................................................................................................................
Commercial and health c a re .................................................................................................
Manufacturing.........................
Power and communication....
Mining exploration, shafts, and wells....................................................................................
Other structures 1 ...................
Equipment and software..........................................................................................................
Information processing equipment and software................................................................
Computers and peripheral equipm ent 2 ..........................................................................
Software 3 ............................................................................................................................
O th e r 4 .....................
Industrial equipment..
Transportation equipment.......................................................................................................
Other equipm ent 5 .....
Residential.........................
Structures....................................................................................................................................
Permanent s ite ........................................................................................................................
Single fam ily.........................................................................................................................
M ultifamily............................................................................................................................
Other structures 6
22
Equipment.........
Residual............................................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 7 .............................................................................
Nonresidential structures........................................................................................................
Residential structures..............................................................................................................
1
2
3
4
5
I
II
III
IV
1,648.4
1,319.2
309.1
80.0
34.6
63.2
76.7
54.2
1,019.4
602.6
1,757.8
1,432.4
321.8
76.5
31.1
67.6
93.5
50.2
1,124.1
638.4
1,693.9
1,371.9
318.0
77.5
29.4
70.6
87.2
50.9
1,064.5
624.5
1,699.0
1,378.9
305.9
73.4
27.8
63.8
88.9
49.4
1,086.9
625.0
1,736.7
1,413.2
321.9
77.3
31.0
65.7
95.6
49.1
1,103.5
638.4
1,790.4
1,465.6
332.9
79.3
33.5
256.1
207.3
146.6
119.3
162.6
330.8
321.5
125.2
114.7
194.0
9.8
-37.5
268.9
211.5
157.7
144.6
173.8
324.4
314.8
116.6
106.7
11.3
198.6
9.9
-41.5
274.1
204.3
169.0
155.2
187.9
325.4
315.7
118.8
107.6
12.3
197.4
10.0
-39.0
277.9
203.2
177.0
158.1
182.2
333.9
324.1
23
24
262.4
214.4
153.7
128.9
168.9
323.1
313.6
118.2
108.1
11.5
195.9
9.8
-37.4
263.7
215.2
158.1
139.6
174.0
321.1
311.5
118.0
108.4
196.8
9.5
-36.1
271.2
208.6
165.4
149.4
179.5
326.2
316.5
118.6
108.1
11.7
198.5
10.0
-40.8
25
26
27
28
29
640.2
1,028.9
586.8
309.3
268.3
649.6
1,134.1
595.7
321.9
263.2
642.6
1,074.3
590.4
318.1
261.9
627.3
1,096.8
576.1
306.2
260.5
648.1
1,113.4
594.2
321.9
261.4
661.2
1,155.8
605.6
332.8
260.9
661.9
1,170.5
606.8
326.6
269.8
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
1 2 .0
1 1 .0
6 8 .8
97.4
51.0
1,145.7
640.2
1,805.0
1,471.9
326.7
76.2
32.0
72.2
92.2
51.3
1,160.3
650.0
1 2 0 .8
109.8
12.3
203.8
10.1
-44.9
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. The quantity index for computers can be used to accurately measure the real growth rate of this component. However, because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates should
not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series; accurate estimates of these contributions are shown in table 5.3.2 and real growth rates are shown in table 5.3.1.
3. Excludes software “embedded,” or bundled, in computers and other equipment.
4. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
5. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
6 . Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
7. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
N ote. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 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.
February 2012
National Data
D-44
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
2011
IV
Change in private inventories............................................................................................
Farm...................................................................................................................................................
Mining, utilities, and construction
Manufacturing.....................
Durable goods industries
Nondurable goods industries
Wholesale trade .................
Durable goods industries
Nondurable goods industries
Retail trade..........................
Motor vehicle and parts dealers
Food and beverage stores
General merchandise stores
Other retail stores..........
Other industries...................
Addenda:
Change in private inventories
Durable goods industries
Nondurable goods industries
Nonfarm industries.........
Nonfarm change in book value 1
Nonfarm inventory valuation adjustm ent 2 ..........................................................................
Wholesale trade.............
Merchant wholesale trade
Durable goods industries
Nondurable goods industries
Nonmerchant wholesale trade..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
32.3
26.0
6.3
29.9
24.2
5.7
-12.5
-16.1
31.8
19.0
12.7
17.6
9.9
- 0 .2
3.7
4.2
1 .6
20
21
22
117.6
-49.0
31.8
25.9
15.3
2 2 .0
1.4
47.2
32.3
14.9
54.8
122.9
- 6 8 .1
29.9
19.9
19.0
6 8 .6
1 0 .6
1 .0
5.8
9.9
-0.7
-9.6
-0.4
4.2
5.0
4.3
1.4
38.7
17.7
2 1 .0
45.2
147.5
-102.3
18.6
15.7
16.1
-0.5
3.0
53.6
-9.9
3.0
31.5
25.2
6.3
50.8
35.5
15.3
-23.6
-24.7
2.7
- 1 .0
-0.5
1.7
1 1 .0
1 .6
2 .2
III
II
62.0
-9.4
-1.5
40.9
32.2
8.7
28.4
17.4
20.5
18.6
15.6
3.0
-15.4
-18.6
- 0 .6
0 .6
2 .2
0 .8
66.9
45.5
21.4
I
38.7
-6.5
- 2 .0
42.5
2 .8
2 0 .8
2 .6
16
17
18
19
23
24
25
26
47.2
-7.5
66.9
- 1 .6
-4.9
23.3
62.0
42.7
19.3
71.4
206.3
-134.8
28.4
10.3
53.6
34.2
19.4
63.5
132.6
-69.1
50.8
43.4
32.8
1 .8
1 0 .6
16.3
7.4
1 2 .1
IV
0.8
-5.6
- 1 .0
14.3
2 2 .6
-8.3
8.1
27.1
-19.0
-14.6
- 1 2 .0
1.7
- 0 .2
-4.1
-0.4
0 .8
34.2
-33.4
6.4
57.1
-50.7
8.1
-1.5
19.7
-21.3
9.7
72.6
-5.3
1 0 .6
42.7
24.2
18.5
32.2
16.6
15.6
-10.9
-17.9
2.5
2.5
1.9
3.2
72.6
18.2
54.4
77.8
95.5
-17.7
32.2
25.8
13.1
12.7
6.4
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) under
lying inventories derived primarily from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived primarily from Internal Revenue Service statistics.
N ote. Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.6.6B. Change in Real Private Inventories by Industry, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2011
2010
I
IV
Change in private inventories............................................................................................
Farm...................................................................................................................................................
Mining, utilities, and construction
Manufacturing.....................
Durable goods industries
Nondurable goods industries
Wholesale trade..................
Durable goods industries...........................................................................................................
Nondurable goods industries
Retail trade..........................
Motor vehicle and parts dealers
Food and beverage stores
General merchandise stores
Other retail stores..........
Other industries...................
Residual............................................................................................................................................
Addenda:
Change in private inventories.....................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries................................................................................................
Nonfarm industries......................................................................................................................
Wholesale trade.............
Merchant wholesale trade
Durable goods industries
Nondurable goods industries
Nonmerchant wholesale trade..............................................................................................
58.8
-1.4
-4.3
20.3
18.5
2.4
27.0
17.0
35.6
- 6 .8
2.3
25.7
9
1 0 .1
10
11
12
16.2
9.5
- 0 .1
3.3
4.0
0.7
-0.9
3.9
- 1 0 .8
-14.9
1.3
1
2
3
4
5
6
7
8
13
14
15
16
17
18
19
20
21
22
23
24
25
58.8
41.5
18.6
60.7
27.0
2 2 .1
13.7
8.5
4.9
2 2 .1
4.7
23.1
38.3
-5.2
- 1 .6
39.7
19.4
2 0 .1
1 .2
16.5
13.9
3.3
-13.7
-17.7
-0.5
1.4
0.5
1.9
-1.4
2 .2
1 .2
1 .8
35.6
28.2
9.1
44.9
23.1
15.5
16.3
38.3
16.4
22.3
44.7
16.5
14.0
14.3
2 0 .8
II
49.1
-7.8
- 1 .2
33.3
27.3
7.0
22.3
15.2
7.5
-0.7
-9.1
-0.3
3.7
4.3
3.9
-1.4
0 .8
0 .6
49.1
37.4
13.9
59.7
22.3
9.6
9.0
1.4
7.6
2.5
1 2 .6
III
39.1
-8.7
2.5
24.2
2 1 .2
4.0
39.0
30.6
10.1
-20.5
-23.0
2.1
-0.9
-0.4
1.5
0.1
39.1
29.8
1 1.1
51.0
39.0
33.5
28.1
7.2
5.5
-2.0
- 6 .0
- 0 .8
11.3
19.1
-5.9
6.4
23.2
-12.4
-12.7
- 1 1.1
1.3
- 0 .2
-3.5
-0.4
-5.3
- 2 .0
29.8
-27.2
5.5
6.4
-0.9
16.8
-13.9
7.4
IV
56.0
-4.9
8 .6
34.1
20.7
13.5
24.8
14.3
10.5
-9.5
-16.6
2 .0
2.1
1 .6
2.7
1.5
56.0
15.9
38.7
63.6
24.8
19.9
1 1 .2
8 .6
4.9
N o te. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2005) 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 annual rates. 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.
February
2012
S urvey
of
D-45
C u r r e n t B u s in e s s
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
Seasonally adjusted quarterly totals
Line
2010
2011
I
IV
Private inventories 1 ............................................................................................................
Farm..................................................................................................................................................
Mining, utilities, and construction
M anufacturing....................
Durable goods industries
Nondurable goods industries
Wholesale trade...............................................................................................................................
Durable goods industries
Nondurable goods industries
Retail trade.........................
Motor vehicle and parts dealers
Food and beverage stores
General merchandise stores
Other retail stores.........
Other industries................................................................................................................................
Addenda:
Private inventories.......................................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries................................................................................................
Nonfarm industries......................................................................................................................
Wholesale trade..........................................................................................................................
Merchant wholesale trade......................................................................................................
Durable goods industries..................................................................................................
Nondurable goods industries............................................................................................
Nonmerchant wholesale trade..............................................................................................
Final sales of domestic business 2..................................................................................
Final sales of goods and structures of domestic business 2....................................
Ratios 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..............................................
2,084.5
214.8
82.3
640.9
368.6
272.3
515.8
268.6
247.1
477.3
129.0
43.7
83.8
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
2 2 0 .8
153.6
16
17
18
19
2,084.5
851.5
1,233.0
1,869.7
515.8
449.2
235.5
213.6
20
21
22
23
24
25
26
6 6 .6
812.0
423.1
27
28
29
2.57
2.30
4.42
II
III
2,189.6
237.7
85.3
680.5
388.1
292.4
541.6
277.5
264.1
485.8
127.9
45.1
86.3
226.6
158.6
2,211.6
230.0
2,189.6
880.5
1,309.1
1,951.9
541.6
467.4
242.2
225.2
74.2
816.5
424.6
2 ,2 1 1 .6
8 8 .0
690.7
395.9
294.8
557.8
289.2
268.5
484.7
124.8
45.4
87.0
227.5
160.4
897.0
1,314.6
1,981.6
557.8
482.4
252.9
229.6
75.3
825.4
427.7
2 .6 8
2 .6 8
2.39
4.60
2.40
4.63
IV
2,225.8
234.8
89.0
689.5
398.6
290.9
566.0
297.8
268.3
486.3
122.3
46.7
88.3
229.0
160.1
2,246.4
233.0
90.9
701.4
400.3
301.1
573.4
301.6
271.8
485.6
117.0
47.7
89.4
231.5
162.1
2,225.8
905.4
1,320.4
1,991.0
566.0
487.8
259.4
228.5
78.2
840.3
439.3
2,246.4
904.9
1,341.5
2,013.4
573.4
491.9
262.3
229.6
81.4
845.8
442.4
2.65
2.37
4.53
2.38
4.55
2 .6 6
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 private inventories component of
GDR 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. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross output of general government, gross value added of nonprofit institutions, compensation paid to
domestic workers, and imputed rental of owner-occupied nonfarm housing. It includes a small amount of final sales by farm and by government enterprises.
N ote. Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales by Industry, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted quarterly totals
Line
2010
2011
IV
Private inventories 1............................................................................................................
Farm..................................................................................................................................................
Mining, utilities, and construction..........................
Manufacturing..........................................................
Durable goods industries...................................
Nondurable goods industries............................
Wholesale trade.......................................................
Durable goods industries...................................
Nondurable goods industries............................
Retail trade.......................................................................................................................................
Motor vehicle and parts dealers................................................................................................
Food and beverage stores
General merchandise stores
Other retail stores........
Other industries.................
Residual............................................................................................................................................
Addenda:
Private inventories.......................................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries
Nonfarm industries....................
Wholesale trade........................
Merchant wholesale trade....
Durable goods industries...................................................................................................
Nondurable goods industries............................................................................................
Nonmerchant wholesale tra d e ..............................................................................................
Final sales of domestic business 2..................................................................................
Final sales of goods and structures of domestic business 2....................................
Ratios 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
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
I
II
1,730.5
154.0
70.6
526.1
320.0
207.1
413.9
237.3
175.7
428.8
123.5
35.7
74.5
193.7
134.7
3.7
1,742.8
152.1
70.3
534.5
326.8
208.9
419.5
241.1
177.6
428.6
III
IV
35.6
75.4
194.8
135.7
3.3
1,752.6
149.9
70.9
540.5
332.1
209.9
429.2
248.8
180.1
423.5
115.5
36.2
75.2
194.7
136.0
3.3
1,752.1
148.4
70.7
543.3
336.9
208.4
430.9
254.6
177.0
420.3
112.7
36.5
75.1
193.8
135.9
1,730.5
760.7
968.5
1,576.6
413.9
360.5
207.3
152.1
53.5
742.9
403.7
1,742.8
770.1
972.0
1,591.6
419.5
362.9
209.5
152.4
56.7
744.1
404.0
1,752.6
777.5
974.7
1,604.3
429.2
371.2
216.5
154.2
58.0
747.8
405.3
1,752.1
785.0
968.0
1,605.7
430.9
371.0
220.7
150.7
59.9
755.4
412.2
1,766.1
789.0
977.6
1,621.6
437.1
376.0
223.6
152.9
61.1
760.3
416.4
2.33
2.34
2.14
3.94
2.34
2.15
3.96
2.32
2.13
3.90
2.32
2.13
3.89
2 .1 2
3.91
1 2 1 .2
2.1
1,766.1
147.2
72.9
551.9
342.1
2 1 1 .8
437.1
258.2
179.6
417.9
108.6
37.0
75.6
194.2
136.6
2.3
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. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross output of general government, gross value added of nonprofit institutions, compensation paid to
domestic workers, and imputed rental of owner-occupied nonfarm housing. It includes a small amount of final sales by farm and by government enterprises.
N o te. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2005) dollar inventory series are calculated to ensure that the chained (2005) dollar change in inventories for 2005 equals the current-dollar change in inventories for 2005 and that the average of the 2004
and 2005 end-of-year chain-weighted and fixed-weighted inventories are equal.
February 2012
National Data
D-46
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2005=100]
Seasonally adjusted
Line
IV
Private inventories 1 ............................................................................................................
1
2
Mining, utilities, and construction...................................................................................................
Manufacturing..................................................................................................................................
Durable goods industries
Nondurable goods industries
Wholesale trade..................
Durable goods industries
Nondurable goods industries.....................................................................................................
Retail trade...........................
Motor vehicle and parts dealers................................................................................................
Food and beverage stores..........................................................................................................
General merchandise stores......................................................................................................
Other retail stores...........
Other industries...................
Addenda:
Private inventories.......................................................................................................................
Durable goods industries
Nondurable goods industries................................................................................................
Nonfarm industries..........
Wholesale trade...........................................................................................................................
Merchant wholesale trade......................................................................................................
Durable goods industries
Nondurable goods industries............................................................................................
Nonmerchant wholesale trade..............................................................................................
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1. Implicit price deflators are as of the end of the quarter and are consistent with inventory stocks.
N ote. Estimates in this table are based on the North American Industry Classification System (NAICS).
2011
2010
I
II
III
IV
120.457
139.459
116.580
121.807
115.190
131.458
124.600
113.184
140.640
111.315
104.409
122.386
112.504
114.007
114.007
125.640
156.335
121.371
127.329
118.765
139.980
129.112
115.088
148.705
113.357
105.505
126.563
114.430
116.315
116.936
126.192
153.437
124.145
127.788
119.207
140.464
129.943
116.250
149.086
114.467
108.102
125.426
115.827
116.833
117.929
127.040
158.281
125.903
126.904
118.323
139.586
131.376
116.950
151.550
115.709
108.518
127.848
117.546
118.169
117.767
127.198
158.317
124.786
127.097
117.015
142.206
131.186
116.813
151.284
116.198
107.747
128.823
118.240
119.210
118.675
120.457
111.934
127.308
118.590
124.600
124.610
113.629
140.476
124.454
125.640
114.340
134.685
122.641
129.112
128.817
115.596
147.777
130.967
126.192
115.364
134.863
123.519
129.943
129.955
116.779
148.856
129.833
127.040
115.339
136.413
123.994
131.376
131.493
117.494
151.575
130.604
127.198
114.694
137.220
124.163
131.186
130.841
117.333
150.206
133.268
February 2012
S urvey
of
D-47
C u r r e n t B u s in e s s
6. Income and Employment by Industry
Table 6.1 D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
National income without capital consumption adjustment....
Domestic industries.......................................................................................
Private industries.......................................................................................
Agriculture, forestry, fishing, and hunting..............................................
M ining.......................................................................................................
Utilities........
Construction
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Retail trade..
Transportation and warehousing............................................................
Information...............................................................................................
Finance, insurance, real estate, rental, and leasing............................
Professional and business services 1 ...................................................
Educational services, health care, and social assistance..................
Arts, entertainment, recreation, accommodation, and food services
Other services, except government......................................................
Government................................................................................................
Rest of the w orld............................................................................................
2011
2010
2011
2010
12,568.3
12,383.9
10,747.5
126.5
138.6
153.0
517.6
1.197.2
12.643.7
12,454.3
10.819.8
1 2 0 .0
156.0
174.3
527.9
1,229.2
694.9
534.3
716.8
863.7
349.1
412.9
2,342.8
1.778.5
1.295.5
484.1
369.1
1.634.5
189.4
6 8 6 .1
511.1
687.0
860.2
339.6
396.4
2,360.6
1,811.0
1,305.0
484.3
370.4
1.636.3
184.4
12,894.8
12,667.7
11,024.6
132.8
156.9
164.1
520.5
1.249.0
709.3
539.6
721.4
876.4
343.3
428.5
2.433.6
1.816.7
1,316.5
489.2
375.7
1.643.1
227.1
13,015.5
12,754.3
11,107.0
135.5
171.3
165.1
525.7
1.281.3
714.4
566.9
749.7
872.8
349.4
430.9
2,369.6
1,853.5
1,328.0
497.0
377.4
1.647.3
261.2
13,107.6
12,840.3
11,195.5
136.8
176.5
160.7
531.3
1,301.9
733.2
568.7
745.1
871.4
357.6
418.7
2,378.4
1,884.1
1.347.8
502.8
382.4
1.644.8
267.3
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and administrative and waste management services.
N o te . Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
Table 6.16D. Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2010
2011
2010
IV
Corporate profits with inventory valuation and capital consumption adjustments
Domestic industries........................................................................................................................
Financial1 ......................................................................................................................................
Nonfinancial...................................................................................................................................
Rest o f the w o rld .............................................................................
Receipts from the rest of the w orld.............................................
Less: Payments to the rest of the w orld.....................................
Corporate profits w ith inventory valuation adjustment..
Dom estic in du strie s........................................................................
Financial..........................................................................................
Federal Reserve banks............................................................
Other financial 2
Nonfinancial....
Utilities.......
Manufacturing
Durable goods
Fabricated metal products..............................................
Machinery.........................................................................
Computer and electronic products....
Electrical equipment, appliances, and components....
Motor vehicles, bodies and trailers, and p a rts.............
Other durable goods 3 ....................................................
Nondurable goods....................................
Food and beverage and tobacco products....................
Petroleum and coal products.............
Chemical products...........................................................
Other nondurable goods 4
Wholesale trade..................
Retail trade..........................
Transportation and warehousing
Information..........................
Other nonfinancial5 ...........
Rest o f the w o rld .......................
1,800.1
1,418.2
466.7
951.5
381.9
569.6
187.7
1.780.4
1.398.5
494.7
71.6
423.2
903.7
25.0
217.1
95.0
11.7
15.3
39.5
7.0
-12.7
34.1
1 2 2 .1
37.8
36.0
34.7
13.7
85.8
1 2 2 .6
34.4
87.7
331.2
381.9
1.857.4
1.484.5
512.0
972.6
372.9
591.6
218.8
1.652.2
1.279.3
520.8
69.5
451.3
758.5
7.1
187.7
84.5
13.5
16.9
41.9
2.4
-19.1
28.8
103.2
29.6
28.4
35.0
1 0 .2
49.5
117.3
28.2
79.1
289.6
372.9
1,876.4
1,465.7
473.3
992.3
410.8
611.9
2 0 1 .1
1,761.1
1,350.3
491.5
72.7
418.8
858.8
14.9
217.6
90.8
14.6
2 0 .0
29.0
4.3
-
1 2 .0
34.8
126.9
33.5
37.9
36.1
19.3
71.6
1 2 0 .2
23.5
98.9
312.0
410.8
1,937.6
1,492.2
419.1
1.073.1
445.4
660.9
215.5
1.830.2
1,384.9
438.9
80.7
358.3
945.9
15.2
249.9
97.1
15.6
20.3
34.5
-
2 .0
1 2 .2
36.8
152.9
34.7
71.3
32.4
14.4
90.8
112.7
26.8
103.6
346.9
445.4
1,970.1
1.519.3
428.3
1,091.0
450.8
650.4
199.5
1.867.4
1,416.6
448.7
77.6
371.0
967.9
10.7
268.2
113.6
17.5
24.5
35.4
1.9
-10.9
45.1
154.7
28.5
72.2
38.0
16.0
85.6
.
.
.
.
.
,
,
1 1 0 .6
33.5
97.1
362.2
450.8
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit intermediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic mineral products; primary metals; other transportation equipment; furniture and related products; and miscellaneous manufacturing.
4. Consists of textile mills and textile product mills; apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
5. Consists of agriculture, forestry, fishing, and hunting; mining; construction; real estate and rental and leasing; professional, scientific, and technical services; administrative and waste management services;
educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services, except government.
N o te . Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
National Data
D-48
February 2012
7. Supplem ental Tables
Table 7.1. Selected Per Capita Product and Income Series in Current and Chained Dollars
[Dollars]
Seasonally adjusted at annual rates
Line
Current dollars:
Gross domestic product.....................................................................................................
Personal income...........................
Disposable personal income......
Personal consumption expenditures................................................................................
G oods.......................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services...........................................................................................................................
Chained (2005) dollars:
Gross domestic product.....................................................................................................
Gross national product.......................................................................................................
Disposable personal income
Personal consumption expenditures................................................................................
G oods..............
Durable goods
Nondurable goods
Services...........
Population (midperiod, thousands).......................................................................................
1
?
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
2010
2011
2011
2010
46,894
47,505
39,944
36,090
33,074
10,934
3,504
7,430
22,140
48,352
42,250
42,809
32,481
29,767
10,429
3,836
6,590
19,343
309,774
42,666
41,536
37,035
34,363
11,682
3,723
7,958
22,681
32,539
30,192
10,742
4,116
6,656
19,470
312,040
IV
I
II
III
IV
47,494
48,088
40,485
36,491
33,531
48,162
49,000
41,561
37,082
34,249
11,622
3,669
7,952
22,627
48,590
49,446
41,557
37,048
34,529
11,722
3,708
8,014
22,807
48,874
3,620
7,592
22,318
47,778
48,508
41,284
36,895
33,972
11,544
3,710
7,834
22,429
42,541
43,081
32,678
30,027
10,642
3,999
6,655
19,402
310,670
42,508
43,165
32,724
30,132
10,747
4,105
6,669
19,407
311,184
42,577
43,322
32,625
30,132
10,687
4,043
6,662
19,463
311,717
42,684
43,441
32,407
30,204
10,703
4,091
6,639
19,518
312,330
42,893
1 1 ,2 1 2
41,742
37,113
34,698
11,838
3,806
8,032
22,860
32,407
30,299
10,831
4,227
6,654
19,491
312,930
Table 7.2.1 B. Percent Change from Preceding Period in Real Motor Vehicle Output
[Percent]
Seasonally adjusted at annual rates
Line
2010
2011
2011
2010
IV
Motor vehicle output...............................................................................................
Auto output...........
Truck output........
Final sales of domestic product
Personal consumption expenditures..........................................................................
New motor vehicles........................................................................................................
Autos............................................................................................................................
Light trucks (including utility vehicles).....................................................................
Net purchases of used autos and used light trucks..................................................
Used autos..................................................................................................................
Used light trucks (including utility vehicles)............................................................
Private fixed investment.................................................................................................
New motor vehicles
Autos............
Trucks...........................................................................................................................
Light trucks (including utility vehicles).................................................................
Other.......................................................................................................................
Net purchases of used autos and used light trucks..................................................
Used autos..................................................................................................................
Used light trucks (including utility vehicles)............................................................
Gross government investment
Autos.............................
Trucks...........................
Exports.............................................................................................................................
Autos
Trucks...........................................................................................................................
Imports.
Autos
Trucks..........................................................................................................................
Change in private inventories............................................................................................
Foreign
Foreign
Addenda:
Final sales of motor vehicles to domestic purchasers...................................................
Private fixed investment in new autos and new light tru cks..........................................
Domestic output of new autos 2 ........................................................................................
Sales of imported new autos 3 ..........................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
?4
25
26
27
28
29
30
31
V
31
34
35
HH
37
38
39
40
41
42
43
44
45
27.4
16.5
33.8
11.8
2.1
5.4
-4.6
13.0
-2.9
- 1 .6
-3.9
137.3
34.9
29.9
38.9
45.6
2 0 .6
- 1 2 .8
-10.5
-14.7
-11.1
-9.1
- 1 1 .6
11.9
4.4
15.8
18.4
8.8
1 1 .6
13.6
10.3
4.5
3.2
5.6
33.3
16.5
3.0
26.5
17.0
58.0
-3.5
-2.9
^ .0
22.5
-2.4
28.4
I
-17.4
-24.0
-14.2
46.5
42.2
53.1
56.2
51.2
26.5
32.5
5.1
-38.5
35.0
-11.8
0.9
4.5
-21.5
25.6
-4.9
-16.1
4.5
62.2
44.0
5.0
74.6
83.5
54.8
19.1
- 1 0 .8
53.8
52.3
2.3
64.1
51.7
4.0
7.1
1.9
-8.2
-4.0
—8 .8
- 1 .2
-12.4
31.0
3.2
-2.7
8.4
4.5
-38.1
13.7
-17.0
8.3
-36.9
-4.3
3.7
-14.8
10.3
- 0 .1
-26.3
23.0
27.5
9.4
-13.0
-27.4
0.4
-30.4
-13.0
-33.9
62.3
44.6
51.3
40.5
17.7
140.0
23.1
67.2
-3.9
44.7
-19.6
63.9
50.9
42.7
60.5
34.4
33.3
35.8
25.6
17.6
34.5
-51.1
-58.1
-40.3
8.4
-3.2
21.3
141.3
176.5
101.3
28.7
32.2
47.0
70.8
-18.4
-17.1
16.3
41.8
9.6
16.8
37.4
28.4
14.8
30.8
-1.5
-17.1
8 .1
8 .6
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
1 2 .6
2 2 .1
13.6
38.0
-7.6
-6.4
-15.6
1 2 .0
-4.1
15.9
-
IV
2 1 .0
2 0 .0
18.6
19.6
17.5
7.7
9.7
5.0
9.0
9.0
59.2
94.7
45.3
29.9
18.9
18.0
56.9
-2.5
20.5
III
5.4
-28.6
-30.4
-38.9
-23.9
-25.5
-27.9
-23.7
8.5
-7.6
- 1 2 .2
-4.4
-21.3
57.2
-27.4
- 1 1 .2
-39.5
60.6
69.2
58.9
36.3
33.5
39.3
40.0
34.4
47.9
1 0 .1
II
6 .8
-34.0
- 2 1 .1
12.8
32.9
5.1
30.2
43.4
72.2
1 1 0 .6
25.8
-
1 0 .8
42.9
30.6
February 2012
S urvey
of
D-49
C u r r e n t B u s in e s s
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
Motor vehicle output......
Auto output....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures........................
New motor vehicles..............
A utos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light tru cks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Private fixed investm ent........
New motor vehicles..............
A utos..................................
Trucks.................................
Light trucks (including
utility vehicles)..........
O ther..............................
Net purchases of used autos
and used light tru cks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment............................
A utos......................................
Trucks.....................................
Exports...................................
A utos..................................
Trucks.................................
Im ports...................................
A utos..................................
Trucks.................................
Change in private inventories...
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
2010
2011
Seasonally adjusted
Line
2011
2010
IV
I
II
III
IV
77.389
71.884
80.609
74.459
86.633
75.060
93.378
88.173
76.651
64.466
83.710
81.689
86.102
76.148
91.903
87.213
85.215
79.005
88.863
88.362
86.290
69.963
95.779
85.638
88.925
75.125
96.967
91.478
7
79.824
71.808
70.096
86.859
80.107
79.604
86.452
78.937
76.493
90.279
82.268
85.613
82.987
75.140
75.699
83.165
75.978
71.260
91.008
87.041
85.845
a
73.091
80.643
80.738
80.230
74.946
79.342
88.052
9
97.874 102.307 103.537 108.470 100.758
85.306 88.023 90.724 95.157 87.678
1
2
3
4
5
6
10
99.507 100.493
83.907 85.351
110.081 116.228 115.992 121.413 113.483 114.743 115.275
59.915 79.862 65.830 74.299 75.825 85.571 83.754
13 74.270 86.534 76.649 84.054 82.420 90.293 89.369
14 86.537 89.114 82.301 91.279 88.352 89.432 87.394
15 67.103 84.916 73.263 79.757 78.865 90.660 90.383
11
12
16
17
73.380
51.419
85.828
81.229
80.415
55.479
83.755
69.056
78.896
77.330
91.831
86.256
88.830
92.274
18 111.964 108.006 106.266 111.939 103.336 107.945 108.802
19 102.597 99.574 90.961 103.435 100.403 97.567 96.890
20
21
22
23
?4
2b
26
27
28
29
30
31
V
33
34
35
36
37
38
39
40
41
121.481 116.563 121.810 120.593 106.366 118.446 120.846
89.378 109.524
76.000 74.199
93.378 119.857
120.045
133.401
108.361
86.133
103.117
70.739
142.380
159.595
127.340
92.789
113.131
74.264
86.084 94.412 106.278 118.055 119.350
72.806 68.947 78.637 79.080 70.131
90.035 101.880 114.389 129.462 133.698
123.215
141.487
107.382
88.189
108.292
69.982
136.572 144.579 147.531 140.836
154.633 161.035 159.744 162.966
120.858 130.160 136.604 121.740
94.946 79.392 98.955 97.862
116.363 93.621 120.725 121.814
75.541 66.414 79.108 75.995
Trucks...........................................
42
73.841
43
44
45
79.384 87.381 81.353 87.226 83.231
70.370 76.730 66.460 73.182 74.396
96.129 104.805 100.234 114.589 103.265
84.750
79.917
85.116
80.897
84.017
88.971
90.819 88.251
76.118 83.224
97.321 104.045
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
Motor vehicle o utput.....
Auto output....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures........................
New motor vehicles...............
Autos...................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment.........
New motor vehicles...............
Autos...................................
Trucks.................................
Light trucks (including
utility vehicles)..........
Other...............................
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment............................
Autos.......................................
Trucks.....................................
Net exports
Exports
Autos...................................
Trucks
Imports....................................
Autos...................................
Trucks.................................
Change in private inventories. ..
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
2010
1 100.633
2 101.992
3 99.778
4 100.557
2011
103.302
105.036
102.247
103.348
2010
2011
IV
I
II
III
IV
100.856
101.838
100.166
100.834
101.487
102.855
100.622
101.457
103.120
105.242
101.890
103.177
104.401
106.462
103.195
104.489
104.202
105.585
103.282
104.267
b 100.782 103.696 101.130 101.569 103.849 104.966 104.400
6
99.854 102.675 100.047 100.660 102.980 103.891 103.171
7 102.146 105.188 101.853 102.468 105.466 106.908 105.908
8
98.191 100.803
98.642
99.252 101.115 101.698 101.148
9 101.927 104.949 102.495 102.640 104.842 106.299 106.014
101.165 105.627 101.642 102.712 106.026 107.413 106.357
10
102.562
98.300
13 102.309
14 102.144
15 102.599
11
12
104.470
100.158
105.004
105.169
105.123
103.193
98.603
102.510
101.829
103.176
102.630
99.492
103.116
102.476
103.756
103.988
100.621
105.183
105.436
105.244
105.497
100.142
106.053
106.880
105.769
105.766
100.376
105.666
105.884
105.724
16 98.313 100.949 98.778 99.412 101.268 101.838 101.280
17 116.504 118.684 117.468 117.844 118.239 118.646 120.006
18 102.608 107.178 103.222 103.387 106.828 109.982 108.517
19 102.566 106.585 103.103 103.121 106.143 109.127 107.950
20
102.634 107.689 103.309 103.592 107.417 110.725 109.021
21
22
109.065 110.858 109.781 109.920 110.878 110.883 111.753
107.340 108.095 107.838 106.320 109.351 108.341 108.371
109.441 111.479 110.219 110.721 111.260 111.460 112.474
23
?4
2b
26
27
28
29
30
31
V
33
34
35
38
37
38
39
40
41
104.149
102.821
105.669
104.400
102.874
106.351
106.176
104.009
108.618
106.039
105.748
106.437
104.799
103.177
106.644
104.899
102.855
107.648
105.004
103.240
107.009
105.075
103.244
107.526
105.697
103.464
108.214
107.109
106.229
108.286
106.447
103.960
109.232
105.916
106.807
104.731
107.557
105.372
110.016
106.055
106.711
105.204
42 101.381 103.947 101.687 102.228 104.188 104.833 104.539
43 99.894 102.693 99.985 100.625 102.989 103.952 103.204
44 102.142 104.401 102.051 102.543 104.444 105.311 105.304
45 102.143 105.187 101.851 102.473 105.465 106.904 105.905
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
N ational Data
D-50
February 2012
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2010
2011
2010
IV
Motor vehicle output
Auto output....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures........................
New motor vehicles..............
A utos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks
Used autos........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment
New motor vehicles..............
A utos..................................
Trucks.................................
Light trucks (including
utility vehicles)
O ther..............................
Net purchases of used autos
and used light trucks
Used autos........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment.............................
A utos......................................
Trucks.....................................
Net exports................................
Exports...................................
Autos
Trucks.................................
Im ports.
Autos
Trucks
Change in private inventories...
A utos...........................................
N ew .........................................
Domestic...........................
Foreign...............................
Used........................................
Trucks..........................................
N ew .........................................
Domestic...........................
Foreign...............................
Used 1 ....................................
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
Seasonally adjusted at annual rates
Line
2011
III
IV
216.1
316.4
374.9
118.4
256.5
385.0
323.8
98.6
225.2
348.0
366.1
117.7
248.4
373.8
368.1
124.9
243.2
385.1
377.3
111.9
265.5
378.0
388.1
119.1
269.0
402.9
290.9
178.5
69.8
325.5
204.7
81.5
316.1
196.5
75.9
331.5
206.1
85.5
311.6
192.6
77.8
315.6
196.5
74.3
343.5
223.5
7
8
108.7
123.1
1 2 0 .6
1 2 0 .6
114.8
1 2 2 .2
134.9
9
112.4
48.0
120.9
51.7
119.5
51.3
125.4
54.4
119.0
51.7
119.1
50.1
1 2 0 .0
64.4
87.1
161.8
68.7
93.1
69.2
118.3
193.6
72.9
120.7
6 8 .2
96.0
167.4
65.2
67.3
112.8
184.6
72.5
1 1 2 .2
69.0
126.7
204.0
74.4
129.6
69.5
124.3
1 0 2 .2
71.0
109.3
184.6
72.8
111.9
16
17
71.3
2 1 .8
85.6
35.1
78.5
23.7
82.2
29.6
78.9
33.3
92.4
37.2
88.9
40.3
18
19
-74.7
-34.4
-75.3
-34.8
-71.4
-30.8
-75.3
-35.0
-71.9
-35.0
-77.3
-34.9
-76.8
-34.3
20
-40.2
-40.5
-40.6
-40.3
-36.9
-42.3
-42.5
21
22
14.7
18.3
2 .8
14.3
2.7
11.9
-76.4
55.0
28.0
27.0
131.3
73.8
57.6
9.8
2.9
15.6
-77.2
66.5
33.9
32.6
143.6
83.2
60.4
-10.0
-6.4
- 0 .8
0 .6
0.9
-1.9
-1.3
-5.6
-3.7
2.5
17.8
3.0
14.8
-57.0
67.2
34.0
33.2
124.2
69.2
55.0
-17.0
-9.9
-4.2
1.9
- 6.1
-5.7
-7.1
19.8
3.0
16.8
-84.0
69.1
33.9
35.1
153.1
89.7
63.4
-0.7
0.9
4.5
2 .0
15.7
2.5
13.1
-82.7
63.1
32.6
30.5
145.7
83.6
62.1
-7.7
-11.5
-4.7
-3.1
- 1 .6
-6.9
3.8
11.4
20.1
2 .8
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
1 0 .2
1 .2
1
2
326.2
3
4
5
6
10
11
12
13
14
15
1 1 0 .1
1 .0
8 .8
10.3
9.0
1.3
-1.5
1 1 .6
2 .8
-78.3
56.8
29.8
27.0
135.1
77.5
57.6
-24.1
-18.1
-9.3
-5.2
-4.1
- 8 .8
- 6 .0
- 2 .0
- 2.1
-0.3
- 6 .2
0.1
^ .0
I
-7.6
II
8 8 .6
50.5
2 0 1 .1
72.0
129.2
2 .6
17.5
-85.0
6 6 .6
35.1
31.5
151.6
90.4
61.2
-14.8
-4.9
1 .2
3.2
1 .0
4.3
-3.7
- 1 .6
3.1
4.5
-3.5
- 8.1
1.9
-4.7
- 2 .0
- 6 .1
-9.9
-5.5
-4.7
- 0 .8
-4.3
42
392.8
462.1
426.3
456.4
442.1
462.0
487.9
43
44
45
140.0
77.5
84.8
158.5
86.4
95.1
143.6
73.1
155.0
80.9
101.4
151.4
83.8
94.1
166.7
86.5
89.9
160.8
94.5
95.2
8 8 .2
1 . Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
2011
2010
IV
0 .2
1 .2
2010
Motor vehicle output......
Auto output....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures........................
New motor vehicles...............
Autos...................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment.........
New motor vehicles...............
Autos...................................
Trucks.................................
Light trucks (including
utility vehicles)..........
Other...............................
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment............................
Autos.......................................
Trucks.....................................
Net exports................................
Exports...................................
Autos...................................
Trucks.................................
Imports....................................
Autos...................................
Trucks.................................
Change in private inventories. ..
Autos............................................
New..........................................
Domestic............................
Foreign................................
U sed.......................................
Trucks...........................................
New..........................................
Domestic............................
Foreign................................
Used 1.....................................
Residual...........................................
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
2011
III
IV
250.9
372.6
321.1
96.9
224.9
345.2
360.7
114.4
246.9
368.5
357.0
118.7
238.8
373.4
361.5
105.1
257.3
361.9
372.5
112.9
260.5
386.6
288.6
178.7
68.3
314.1
199.4
77.6
312.6
196.5
74.5
326.4
204.8
83.4
300.1
187.0
73.8
300.7
189.1
69.4
329.1
216.6
83.7
8
110.7
1 2 2 .1
122.3
121.5
113.5
1 2 0 .2
133.4
9
110.3
47.5
115.3
49.0
116.7
50.5
122.3
53.0
113.6
48.8
1 1 2 .2
113.3
47.5
62.8
88.7
158.2
67.3
90.7
66.3
118.2
184.3
69.3
114.8
6 6 .2
13
14
15
97.4
163.2
64.0
99.0
69.2
109.9
179.0
71.0
107.8
64.7
112.2
175.5
68.7
106.6
65.4
126.6
192.3
69.5
1 2 2 .6
6 8 .0
1 2 2 .2
16
17
72.5
18.7
84.8
29.6
2 0 .2
82.7
25.1
77.9
28.2
90.7
31.4
87.8
33.6
18
19
-72.8
-33.6
-70.2
-32.6
-69.1
-29.8
-72.8
-33.9
-67.2
-32.9
-70.2
-31.9
-70.7
-31.7
20
-39.2
-37.6
-39.3
-38.9
-34.3
-38.2
-39.0
21
22
13.5
16.5
2 .6
2 .6
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
10.9
-73.0
52.8
27.2
25.5
125.8
71.7
54.1
9.7
14.0
-72.9
62.6
32.6
30.0
135.5
78.7
56.8
-9.5
- 6 .1
- 0 .8
0.5
-1.3
-5.2
-3.4
2.5
14.3
2.4
11.9
-78.6
60.1
31.6
28.5
138.7
80.9
57.8
-7.5
- 1 1 .2
-4.5
-3.0
-1.5
- 6 .6
3.8
16.0
2.7
13.3
-52.4
63.6
32.9
30.7
116.0
65.1
50.8
-16.1
-9.4
-4.0
1.9
-5.8
-5.4
-6.7
17.8
2.7
15.1
-79.7
64.9
32.6
32.2
144.5
84.0
60.5
-0.5
0.9
4.4
18.0
2.4
15.6
-81.0
61.9
33.3
28.7
142.9
84.7
58.1
-14.0
-4.7
0 .2
8.9
1.3
-1.4
- 1 .0
13.0
2.5
10.5
-74.6
54.2
28.9
25.3
128.8
75.3
53.5
-23.4
-17.5
-9.1
-5.1
-4.0
-8.5
-5.8
- 2 .0
- 2.1
-0.3
-5.8
3.0
-1.9
-5.6
-9.4
-5.3
-4.6
- 0 .8
-4.0
43
44
45
46
1
2
3
4
b
6
7
10
11
12
324.2
108.0
216.6
314.6
1 .0
2.7
1.9
0.9
- 1 .8
8.7
10.1
362.9
1 1 2 .8
79.4
I
0.1
1 1 .2
1 0 .0
1 .2
0 .0
-3.9
- 1 .8
-7.3
-0.9
387.4
444.7
419.3
140.2
75.9
83.0
154.3
82.7
90.5
143.6
71.6
2 .8
8 6 .6
II
1 .0
4.4
-3.4
-7.6
46.7
4.1
-3.3
-1.4
3.1
1 .2
1 .8
65.7
123.9
190.3
1.1
0 .8
-4.3
0.5
446.6
424.4
440.8
466.8
154.0
78.9
99.0
146.9
80.2
89.2
160.3
82.0
84.0
155.8
89.7
89.9
0 .2
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
N o te . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar 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.
February 2012
S urvey
D-51
C u r r e n t B u s in e s s
of
Table 7.5. Consumption of Fixed Capital by Legal Form of Organization and Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Consumption of fixed capital................................................................................
Private......................................................................................................................................
Domestic business..........................................................................................................
Corporate business........................................................................................................
Financial......................................................................................................................
Nonfinancial...............................................................................................................
Noncorporate business.......
Sole proprietorships and partnerships....................................................................
Farm..............................
Nonfarm.......................
Other private business....
Rental income of persons
Nonfarm tenant-occupied housing
Proprietors’ income...............................................................................................
Households and institutions..........................................................................................
Owner-occupied housing..............................................................................................
Nonprofit institutions serving households...................................................................
Government............................................................................................................................
General government..........................................................................................................
Federal.............................................................................................................................
State and local................................................................................................................
Government enterprises...................................................................................................
Federal.............................................................................................................................
State and local................................................................................................................
Addendum:
Nonfarm business...............................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
1S
1 fi
17
18
19
20
21
22
23
24
25
26
27
28
2010
2011
2010
2011
IV
I
II
III
IV
1,950.0
1,597.8
1,294.4
1,068.7
178.6
890.1
225.7
192.6
25.2
167.4
33.1
30.7
1,896.1
1,557.0
1,258.7
1,038.3
172.9
865.4
220.4
187.6
24.2
163.3
32.9
30.4
1,914.3
1,570.5
1,270.1
1,048.0
174.6
873.4
189.1
24.6
164.6
33.0
30.5
1,939.9
1,590.5
1,287.8
1,063.1
177.7
885.4
224.7
191.6
25.0
166.6
33.1
30.7
1,962.8
1,607.6
1,303.2
1,076.2
179.9
896.3
227.0
193.8
25.3
168.5
33.2
30.7
1,983.0
1,622.5
1,316.7
1,087.6
182.0
905.5
229.1
195.9
25.8
170.1
33.2
30.7
2.4
298.4
206.8
91.6
339.1
282.5
125.5
157.0
56.6
48.7
2.5
303.3
208.7
94.6
352.2
293.2
130.9
162.3
59.1
7.0
52.0
49.8
2.4
300.4
207.7
92.7
343.8
286.4
127.7
158.7
57.4
6.9
50.5
2.4
302.7
208.7
94.0
349.4
291.0
129.9
161.1
58.4
7.0
51.5
2.5
304.4
209.2
95.2
355.2
295.6
132.1
163.5
59.6
7.1
52.6
2.5
305.8
209.4
96.4
360.4
299.7
133.9
165.8
60.7
7.1
53.6
1,266.9
1,317.0
1,280.5
1,292.1
1,310.1
1,326.1
1,339.9
1,874.9
1,540.9
1,245.7
1,027.1
170.3
856.8
218.6
185.9
23.9
162.0
32.7
30.3
27.8
0.3
0.3
1.9
2.4
295.2
205.3
90.0
334.0
278.6
123.3
155.3
55.4
6 .8
6 .8
2 2 2 .1
February 2012
D-52
B. N IPA -R elated Table
Table B .l presents the m ost recent estim ates o f personal incom e and its disposition. These estim ates were
released on January 30, 2012.
Table B.1 Personal Income and Its Disposition
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
2011
2010
2010
2011
Nov.
Dec.
Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
O c t.r
Nov. '
D e c.p
Personal income....................................................................... 12,373.5 12,961.0 12,561.8 12,625.0 12,780.3 12,850.6 12,909.7 12,938.7 12,957.2 12,970.1 12,979.1 12,969.4 12,990.2 13,036.9 13,044.3 13,105.6
Compensation of employees, received....................................
7,971.4 8,242.4 8,041.5 8,056.8 8,126.2 8,177.6 8,213.9 8,217.3 8,222.7 8,219.3 8,243.2 8,237.7 8,268.9 8,316.2 8,316.4 8,349.6
Wage and salary disbursements.......................................... 6,408.2 6,636.3 6,468.2 6,481.4 6,536.8 6,582.9 6,614.8 6,616.5 6,619.6 6,615.1 6,637.4 6,630.3 6,658.1 6,699.1 6,697.7 6,727.2
Private industries................................................................ 5,217.4 5,446.0 5,280.4 5,293.0 5,346.5 5,391.9 5,422.8 5,424.0 5,427.5 5,424.0 5,448.3 5,440.4 5,469.0 5,510.3 5,508.9 5,538.0
1,059.2 1,100.7 1,069.5 1,071.0 1,087.4 1,090.2 1,099.4 1,098.1 1,097.9 1,094.7 1,100.5 1,098.2 1,103.9 1,113.4 1,106.9 1,117.7
Goods-producing industries
702.5
684.2
687.1
705.9
702.2
701.3
697.5
700.2
709.3
Manufacturing............
674.2
697.5
698.0
703.0
701.8
703.1
710.5
Service-producing industries.......................................
4,158.2 4,345.3 4,210.8 4,222.0 4,259.2 4,301.6 4,323.4 4,325.8 4,329.6 4,329.4 4,347.8 4,342.2 4,365.1 4,396.9 4,402.0 4,420.3
Trade, transportation, and utilities..........................
1,006.0 1,045.1 1 ,0 1 2 .8 1,017.6 1,025.3 1,035.5 1,042.5 1,045.8 1,041.3 1,042.3 1,044.0 1,039.6 1,046.6 1,056.0 1,058.0 1,064.1
Other services-producing industries.......................
3,152.2 3,300.2 3,198.0 3,204.4 3,233.9 3,266.1 3,280.8 3,280.0 3,288.3 3,287.1 3,303.8 3,302.7 3,318.5 3,340.8 3,344.0 3,356.3
Government........................
1,190.8 1,190.3 1,187.8 1,188.4 1,190.2 1,191.0 1,192.0 1,192.5 1,192.1 1,191.1 1,189.0 1,189.8 1,189.1 1,188.8 1,188.8 1,189.2
Supplements to wages and salaries
1,563.1 1,606.1 1,573.3 1,575.4 1,589.4 1,594.7 1,599.1 1,600.8 1,603.1 1,604.2 1,605.8 1,607.5 1,610.9 1,617.1 1,618.7 1,622.3
Employer contributions for employee pension and
insurance funds.............................................................
1,089.9 1 , 1 1 1 .0 1,096.7 1,098.6 1,100.9 1,103.0 1,105.0 1,106.9 1,108.7 1,110.4 1 , 1 1 0 .8 1 , 1 1 2 .6 1,114.5 1,117.8 1,119.6 1,121.5
494.1
493.7
494.9
Employer contributions for government social insurance
473.2
495.1
476.5
476.8
488.5
491.7
493.9
494.3
495.1
496.4
499.2
499.1
500.8
Proprietors’ income with IVA and CCAdj.................................
1,036.4 1,107.8 1,081.0 1,085.7 1,086.6 1,097.1 1,103.1 1,105.9 1,106.6 1,107.2 1,109.1 1,116.2 1,115.9 1,115.9 1,114.7 1,115.8
69.2
Farm .........................................................................................
52.2
64.9
60.1
63.0
6 6 .1
68.3
67.3
66.4
67.5
63.4
58.7
59.9
67.0
6 8 .1
54.0
Nonfarm...................................................................................
984.2 1,042.9 1 ,0 2 1 .0 1,025.7 1,023.6 1,031.1 1,033.9 1,037.6 1,039.3 1,040.7 1,042.1 1,048.7 1,047.8 1,052.5 1,056.0 1,061.8
Rental income of persons with CCAdj.....................................
404.2
354.9
354.7
369.7
384.9
400.3
396.8
395.7
406.2
350.2
398.3
400.8
412.0
428.7
420.1
436.9
Personal income receipts on assets........................................
1,721.2 1,790.7 1,738.6 1,766.8 1,772.2 1,780.2 1,779.2 1,791.8 1,802.6 1,812.6 1,806.0 1,794.7 1,781.8 1,786.4 1,785.8 1,795.1
Personal interest incom e.......................................................
1,003.4
997.8
989.3 1,001.5 1,003.1 1,004.7 1,006.4 1 ,0 1 1 .1
1,015.9 1,020.7 1,007.7
994.8
981.8
978.8
975.7
972.6
786.7
Personal dividend income
717.7
792.9
765.3
769.1
775.4
772.8
780.6
791.9
799.9
807.6
810.2
749.3
798.3
799.9
822.5
Personal current transfer receipts
2,281.2 2,336.0 2,338.9 2,355.6 2,331.2 2,322.9 2,330.1 2,342.7 2,346.4 2,352.7 2,340.3 2,334.4 2,335.1 2,327.2 2,327.6 2,340.8
Government social benefits to persons............................... 2,242.9 2,296.5 2,299.8 2,316.8 2,291.1 2,284.0 2,290.7 2,303.2 2,307.0 2,313.3 2,300.7 2,295.0 2,295.8 2,287.6 2,288.1 2,301.2
696.7
705.6
711.4
712.1
690.2
713.5
702.8
701.4
705.1
713.1
715.2
716.1
717.7
718.3
Social security 1 ..............................................................
719.5
729.2
540.7
518.4
554.3
535.2
551.1
554.7
Medicare 2 .............
544.3
547.9
553.1
553.9
555.8
558.1
559.5
558.8
557.8
557.1
Medicaid................
405.4
423.5
441.2
447.2
436.5
430.7
429.0
433.3
438.5
440.5
425.4
413.8
409.9
407.9
407.9
408.1
107.2
106.4
138.7
127.8
124.6
121.5
116.4
114.5
1 1 0 .8
109.3
104.7
1 0 2 .1
98.4
Unemployment insurance.................................................
102.3
97.9
1 0 1 .6
63.4
62.4
Veterans’ benefits..............................................................
57.9
58.9
59.6
61.0
60.6
63.1
61.8
63.6
65.4
65.7
64.0
64.3
65.1
63.5
434.7
O ther...................................................................................
432.4
440.0
439.0
424.9
427.0
428.6
429.8
435.0
433.3
439.5
440.7
439.2
435.6
440.6
441.7
39.4
Other current transfer receipts, from business (net)..........
38.3
39.5
39.1
38.8
40.1
38.9
39.3
39.4
39.3
39.3
39.6
39.3
39.6
39.6
39.5
Less: Contributions for government social insurance............
920.1
993.2
994.5
905.7
912.1
916.8
917.1
918.0
986.8
917.3
920.4
919.9
923.5
929.0
929.0
932.7
Less: Personal current taxes.................................................
Equals: Disposable personal income..................................
1,193.9
1,404.8
1,239.9
1,247.6
1,352.8
1,367.1
1,377.7
1,387.9
1,397.4
1,403.2
1,405.9
1,405.9
1,413.8
1,436.1
1,447.6
1,461.7
11,179.7 11,556.2 11,321.9 11,377.3 11,427.5 11,483.5 11,532.1 11,550.8 11,559.7 11,566.9 11,573.2 11,563.5 11,576.4 11,600.8 11,596.7 11,643.8
Less: Personal outlays............................................................ 10,586.9 11,050.9 10,749.4 10,786.3 10,828.8 10,908.1 10,969.3 10,998.0 11,016.7 10,993.2 11,077.0 11,093.5 11,173.1 11,180.7 11,188.9 11,183.7
Personal consumption expenditures........................................ 10,245.5 10,722.6 10,417.7 10,456.1 10,498.0 10,577.7 10,639.2 10,669.6 10,690.1 10,668.4 10,749.4 10,763.4 10,840.6 10,851.1 10,862.5 10,860.5
Goods......................................................................................
3,387.0 3,645.2 3,481.4 3,502.5 3,546.0 3,603.3 3,627.4 3,647.1 3,625.5 3,595.6 3,643.3 3,640.1 3,700.4 3,711.7 3,707.7 3,694.1
Durable goods
1,085.5 1,161.9 1,123.1 1,127.6 1,139.9 1,162.6 1,161.0 1,157.7 1,144.4 1,129.3 1,154.6 1,143.5 1,176.7 1,189.7 1,193.8 1,189.2
Nondurable goods
2,301.5 2,483.3 2,358.3 2,374.8 2,406.1 2,440.7 2,466.4 2,489.4 2,481.1 2,466.3 2,488.6 2,496.6 2,523.7 2,522.0 2,513.9 2,504.9
Services
6,858.5 7,077.4 6,936.3 6,953.6 6,952.0 6,974.4 7,011.9 7,022.5 7,064.7 7,072.8 7,106.2 7,123.4 7,140.2 7,139.4 7,154.9 7,166.4
157.9
155.9
Personal interest payments 3 ...................................................
173.4
157.0
162.7
161.2
160.8
160.3
159.8
154.0
156.2
158.4
160.7
157.0
153.4
149.8
169.0
170.2
170.6
Personal current transfer payments..........................................
168.0
171.3
168.9
170.0
170.1
170.5
170.9
171.4
171.6
172.6
171.9
173.0
173.4
96.7
To government........................................................................
97.6
96.5
96.6
96.6
97.1
98.4
95.1
96.6
96.9
97.3
97.5
97.8
98.1
98.7
99.1
To the rest of the world (net).................................................
72.9
73.8
72.5
72.5
73.5
73.5
73.5
73.5
73.5
73.5
73.8
74.2
74.2
73.8
73.8
74.2
Equals: Personal saving.........................................................
Personal saving as percentage of disposable personal
income....................................................................................
Addenda:
Personal income excluding current transfer receipts:
Billions of chained (2005) dollars .......................................
Disposable personal income:
Billions of chained (2005) dollars 4 ......................................
Per capita:
Current dollars....................................................................
Chained (2005 dollars)......................................................
Population (midperiod, thousands ) 5 .......................................
Personal consumption expenditures:
Billions of chained (2005) dollars..........................................
Goods..................................................................................
Durable goods................................................................
Nondurable goods.........................................................
Services..............................................................................
Implicit price deflator, 2005=100...........................................
592.8
505.3
572.5
591.0
598.6
575.4
562.8
552.8
543.0
573.7
496.2
470.0
403.3
420.1
407.8
460.1
5.3
4.4
5.1
5.2
5.2
5.0
4.9
4.8
4.7
5.0
4.3
4.1
3.5
3.6
3.5
4.0
9,083.0
9,335.4
9,159.8
9,178.4
9,305.0
9,337.7
9,346.8
9,329.4
9,325.9
9,343.5
9,328.1
9,299.6
9,301.6
9,353.6
9,360.1
9,395.7
10,061.6 10,153.5 10,144.6 10,168.7 10,176.3 10,185.5 10,188.3 10,170.1 10,160.0 10,179.1 10,147.4 10,111.5 10,105.9 10,131.9 10,128.8 10,163.0
36,742 36,903
36,443
36,601
32,654
32,712
32,719 32,732
310,673 310,850 311,019 311,181
37,039
37,078
32,723 32,646
311,351 311,529
37,085
37,084
37,080
37,023
37,040
37,093
37,058 37,188
32,594
32,635
32,374
32,396
32,511
32,335
32,367 32,458
311,713 311,908 312,117 312,330 312,542 312,747 312,932 313,109
1 1 1 .1 1 0
9,421.1
3,351.9
1,284.5
2,077.0
6,075.4
113.815
9,334.4
3,310.1
1,239.9
2,073.2
6,029.6
111.606
1 1 1 .8 8 6
9,399.5
3,351.0
1,284.1
2,076.2
6,055.2
113.190
9,394.2
3,348.0
1,277.3
2,078.8
6,052.7
113.577
9,395.7
3,328.4
1,261.1
2,073.2
6,072.6
113.777
9,388.4
3,317.3
1,242.1
2,077.7
6,075.7
113.634
9,425.1
3,338.6
1,270.8
2,075.1
6,091.8
114.051
9,411.8
3,321.9
1,260.4
2,067.8
6,094.5
114.361
9,463.5
3,367.8
1,302.2
2,078.1
6 ,1 0 2 .0
114.551
9,477.1
3,387.5
1,317.5
2,084.5
6,096.8
114.498
3.7
4.7
0.1
0.5
1 .2
0 .6
0.5
0 .2
0.1
0.1
0.1
- 0.1
0 .2
0.4
0 .1
0.5
3.6
3.4
0.9
0 .1
0 .0
0.5
0.4
0.5
0.4
0 .2
0 .1
0 .2
0.1
0.1
0 .0
- 0 .2
- 0 .1
-0.3
- 0.1
-0.4
0.1
0 .2
0 .1
0 .2
0 .1
1 .8
- 0.1
0.3
0 .0
0 .0
0.4
0.3
3.8
4.7
0.4
0 .8
0 .0
0.4
0.3
- 0 .1
0 .2
0 .0
- 0 .2
- 0 .1
0.1
0.1
0 .6
0 .2
0 .8
2 .2
0.4
0.3
0.4
2 .0
0.4
- 0 .1
0.7
0.5
0.1
0.1
0.1
0.1
36,090
37,035
32,481
32,539
309,774 312,040
9,220.9
3,230.7
1,188.3
2,041.3
5,991.8
9,345.3
3,311.1
1,249.8
2,066.2
6,039.2
9,348.6 9,382.1
3,327.0 3,355.3
1,262.8 1,285.2
2,070.8 2,079.3
6,027.8 6,034.2
112.295 112.744
9,487.5
3,392.2
1,326.2
2,082.3
6,102.7
114.493
9,479.4
3,388.0
1,324.4
2,079.9
6,098.6
114.571
Percent change from preceding period:
Personal income, current dollars..........................................
Disposable personal income:
Current dollars........................................................................
Chained (2005) dollars..........................................................
Personal consumption expenditures:
Current dollars.............................................................................
Chained (2005) dollars..............................................................
p Preliminary
r Revised
CCAdj Capital consumption adjustment
IVAInventory valuation adjustment
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the
federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the
0 .0
- 0.1
federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized
population. The monthly estimate is the average of estimates for the first of the month and the first of the following month;
the annual estimate is the average of the monthly estimates.
D-53
c.
al M easures
Thi:
Maj
ind<
drived from the “Selected NIPA Tables” that are published in this issue and from the “GDP and Other
tries’’ tables that were published in the August 2011 issue. (The changes in prices are calculated from
sed to three decimal places.)
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Ye
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Chain-type price indexes
[2005=100]
Percent change from
preceding period
Real gross
domestic
product
Real final
sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2005=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959
2,760.1
2,761.6
2,778.1
7.2
6.3
18.363
17.987
18.355
18.336
1.1
1 .2
1 .2
1960
1961
1962
1963
1964
2,828.5
2,894.4
3,069.8
3,204.0
3,389.4
2,834.2
2,902.1
3,062.3
3,199.9
3,390.8
2,848.2
2,916.1
3,094.1
3,230.1
3,417.5
2.5
2.3
2 .6
18.620
18.830
19.087
19.290
19.589
18.235
18.428
18.670
18.887
19.191
18.612
18.821
19.078
19.281
19.580
18.592
18.802
19.060
19.264
19.563
1.4
1.4
1.4
1.1
1.1
1.1
1.1
1.4
1.3
1.4
1.4
1.1
1 .6
1 .2
1 .6
1.1
1 .6
1.1
1 .6
1965
1966
1967
1968
1969
3,607.0
3,842.1
3,939.2
4,129.9
4,258.2
3,587.6
3,803.4
3,920.0
4,115.8
4,245.0
3,636.4
3,869.8
3,967.7
4,160.6
4,288.0
6.4
6.5
2.5
4.8
3.1
5.8
19.945
20.511
21.142
22.040
23.130
19.524
20.071
20.654
21.526
22.582
19.936
20.502
21.133
22.031
23.119
19.920
20.486
21.116
22.015
23.101
1 .8
2 .8
2 .8
1 .8
2 .8
1 .8
2 .8
3.1
4.2
4.9
2.9
4.2
4.9
3.1
4.2
4.9
3.1
4.3
4.9
1970
1971
1972
1973
1974
4,266.3
4,409.5
4,643.8
4,912.8
4,885.7
4,284.3
4,403.6
4,636.7
4,884.0
4,870.0
4,295.8
4,442.2
4,678.9
4,960.3
4,939.8
0 .2
0.9
3.4
5.3
5.8
2 .8
- 0 .6
5.3
5.3
-0.3
24.349
25.567
26.670
28.148
30.695
23.798
25.021
26.134
27.647
30.484
24.338
25.554
26.657
28.136
30.690
24.320
25.537
26.639
28.121
30.669
5.3
5.0
4.3
5.5
9.0
5.4
5.1
4.4
5.8
10.3
5.3
5.0
4.3
5.5
9.1
5.3
5.0
4.3
5.6
9.1
1975
1976
1977
1978
1979
4,875.4
5,136.9
5,373.1
5,672.8
5,850.1
4,922.1
5,115.9
5,340.3
5,634.9
5,836.2
4,917.2
5,186.8
5,429.1
5,728.4
5,925.2
- 0 .2
5.4
4.6
5.6
3.1
3.9
4.4
5.5
3.6
33.606
35.535
37.796
40.447
43.811
33.328
35.238
37.617
40.286
43.833
33.591
35.519
37.783
40.435
43.798
33.570
35.502
37.767
40.419
43.782
9.5
5.7
6.4
7.0
8.3
9.3
5.7
9.5
5.7
6.4
7.0
8.3
9.5
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
5,834.0
5,982.1
5,865.9
6,130.9
6,571.5
5,873.6
5,954.4
5,918.2
6,167.6
6,490.0
5,908.3
6,047.3
5,934.0
6,197.1
6,634.1
-0.3
2.5
-1.9
4.5
7.2
47.817
52.326
55.514
57.705
59.874
48.448
52.909
55.906
57.865
59.904
47.791
52.270
55.459
57.652
59.817
47.769
52.251
55.438
57.635
59.800
9.1
9.4
10.5
9.2
5.7
3.5
3.5
9.1
9.4
9.1
9.4
1985
1986
1987
1988
1989
6,843.4
7,080.5
7,307.0
7,607.4
7,879.2
6,833.1
7,092.7
7,289.9
7,601.3
7,860.8
6 ,8 8 8 .0
7,110.4
7,335.9
7,643.9
7,917.3
4.1
3.5
3.2
4.1
3.6
61.686
63.057
64.818
67.047
69.579
61.605
63.000
64.978
67.215
69.765
61.628
62.991
64.819
67.046
69.577
61.614
62.973
64.804
67.031
69.570
1990
1991
1992
1993
1994
8,027.1
8,008.3
8,280.0
8,516.2
8,863.1
8,025.8
8,027.9
8,277.2
8,508.0
8,801.7
8,075.0
8,048.8
8,319.4
8,556.0
8,893.0
1.9
- 0 .2
3.4
2.9
4.1
2 .1
0 .0
3.5
72.274
74.826
76.602
78.288
79.935
72.601
74.980
76.788
78.404
80.029
72.262
74.824
76.598
78.290
79.940
1995
1996
1997
1998
1999
9,086.0
9,425.8
9,845.9
10,274.7
10,770.7
9,065.4
9,404.4
9,774.2
10,208.3
10,706.5
9,121.7
9,463.1
9,873.4
10,295.3
10,802.9
2.5
3.7
4.5
4.4
4.8
3.0
3.7
3.9
4.4
4.9
81.602
83.154
84.627
85.580
86.840
81.743
83.220
84.468
85.034
86.377
2000
2001
11,158.0
11,382.0
11,533.6
11,820.5
12,181.3
11,259.2
11,395.0
11,597.1
11,909.9
12,341.6
4.1
4.2
1.1
1 .8
2 .0
2003
2004
11,216.4
11,337.5
11,543.1
11,836.4
12,246.9
88.724
90.731
92.192
94.134
96.784
88.537
90.198
91.498
93.584
96.415
2005
2006
2007
2008
2009
12,623.0
12,958.5
13,206.4
13,161.9
12,703.1
12,573.0
12,899.3
13,177.5
13,200.5
12,852.7
12,720.1
13,028.3
13,322.0
13,316.9
12,843.2
3.1
2.7
1.9
-0.3
-3.5
3.2
1 0 0 .0 0 0
2 .6
2 .2
0 .2
2 .6
103.237
106.231
108.565
109.732
2010
13,088.0
13,313.4
13,028.9
13,281.8
13,261.0
3.0
1.7
1.4
1.9
1 1 1 .0 0 0
2002
2011
2.4
5.5
4.5
6.1
4.4
5.8
6 .0
6 .0
3.1
5.0
3.1
1.1
0 .6
1.4
- 0 .6
4.2
5.2
5.3
3.8
2 .8
4.3
3.4
3.1
2 .8
1.3
2.5
3.1
2.5
3.5
-
113.307
6.1
3.9
3.8
1.7
6 .8
7.1
8 .8
1 .2
1.4
6.1
6 .1
4.0
3.8
4.0
3.8
3.0
2 .8
3.0
3.0
2 .2
2 .8
2 .2
2 .2
3.4
3.8
2.3
3.1
3.4
3.8
2.9
3.4
3.8
2.9
3.4
3.8
72.260
74.819
76.586
78.291
79.942
3.9
3.5
2.4
4.1
3.3
2.4
3.9
3.5
2.4
3.9
3.5
2.4
2 .2
2 .1
2.1
2.1
2 .2
2 .1
2 .2
2.1
81.606
83.159
84.628
85.584
86.842
81.611
83.166
84.630
85.581
86.840
2.1
2.1
1 .8
2 .1
2 .1
1.9
1.9
1.9
1 .8
1.1
1.5
0.7
1 .8
1.1
1 .8
1.1
1.5
1 .6
1.5
1.5
88.723
90.727
92.196
94.135
96.786
88.720
90.725
92.191
94.131
96.782
2 .2
2.5
1.9
1.4
2.3
3.0
2 .2
2 .2
2.3
2.3
1 .6
2.1
2 .8
1 .6
2 .1
2 .8
1 0 0 .0 0 0
1 0 0 .0 0 0
1 0 0 .0 0 0
103.354
106.402
109.858
109.803
103.231
106.227
108.582
109.729
103.234
106.230
108.589
109.717
3.7
3.4
2.9
3.2
3.3
3.2
2.9
3.3
3.2
2.9
2 .2
1.1
2 .2
1 .0
111.438
114.186
110.992
113.327
110.971
1 .2
2 .1
1.1
2.3
1 .6
2 .1
2 .8
3.3
3.2
2.9
2 .2
1.1
1 .2
2 .1
- 0 .1
1.5
2.5
D-54
National Data
February 2012
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
1959:
1960:
1961:
1962:
1963:
1964:
1965:
1966:
1967:
1968:
1969:
1970:
1971:
1972:
1973:
1974:
1975:
1976:
............
I
II....................
Ill...................
IV...................
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Real gross
domestic
product
Real final
sales of
domestic
product
Chain-type price indexes
[2005=100]
Implicit price deflators
[2005=100]
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit pric e deflators
Gross
domestic
product
Gross
national
product
2,708.0
2,776.4
2,773.1
2,782.8
2,712.4
2,759.1
2,792.7
2,782.2
2,725.1
2,793.6
2,791.5
2,802.2
8.3
10.5
-0.5
1.4
8.5
7.1
5.0
-1.5
18.283
18.325
18.385
18.461
17.907
17.952
18.007
18.081
18.297
18.314
18.366
18.443
18.277
18.295
18.347
18.423
1.5
0.9
1.3
1.7
1 .6
1 .0
1 .2
0 .6
0 .6
0.4
0.4
1.1
1.1
1.7
1.7
1.7
2,845.3
2,832.0
2,836.6
2,800.2
2,812.6
2,839.4
2,835.4
2,849.3
2,864.0
2,851.1
2,856.5
2,821.2
9.3
-1.9
0.7
-5.0
4.4
3.9
- 0 .6
18.115
18.193
18.276
18.356
18.521
18.579
18.648
18.700
18.502
18.560
18.628
18.680
0 .8
0 .8
1.7
1.3
1.5
1.7
1.3
1.5
2 .0
18.499
18.577
18.662
18.742
2,816.9
2,869.6
2,915.9
2,975.3
2,851.6
2,882.2
2,904.4
2,970.4
2,839.0
2,890.6
2,937.5
2,997.3
2.4
7.7
18.766
18.802
18.851
18.900
18.376
18.398
18.447
18.489
18.743
18.785
18.843
18.908
18.723
18.765
18.824
18.890
0.5
8.4
0.3
4.4
3.1
9.4
I
II....................
I ll...................
IV...................
3,028.7
3,062.1
3,090.4
3,097.9
3,006.7
3,057.9
3,081.6
3,102.9
3,050.5
3,086.0
3,114.6
3,125.4
7.4
4.5
3.7
5.0
7.0
3.1
19.020
19.047
19.092
19.152
19.002
19.029
19.074
19.135
2.1
2.4
2.4
1 .0
1.1
1.3
0 .6
0 .6
1 .0
2 .8
18.585
18.643
18.691
18.760
2.3
1 .0
19.009
19.057
19.108
19.175
1.4
1.5
0.9
1.3
0.9
1.3
............
3,138.4
3,177.7
3,237.6
3,262.2
3,123.5
3,176.5
3,232.9
3,266.5
3,164.7
3,203.2
3,263.5
3,288.9
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.2
19.229
19.248
19.283
19.399
18.819
18.843
18.884
19.002
19.196
19.233
19.272
19.418
19.179
19.216
19.255
19.401
1.1
1.3
0.5
0.9
2.5
0.9
0.9
0 .8
0 .8
0 .8
0 .8
3.1
3.1
3,335.4
3,373.7
3,419.5
3,429.0
3,337.9
3,377.6
3,419.4
3,428.3
3,364.4
3,401.6
3,448.3
3,455.9
9.3
4.7
5.5
9.0
4.8
5.1
19.477
19.529
19.607
19.703
19.459
19.512
19.590
19.686
1 .6
2 .0
1 .8
1 .8
1 .0
19.076
19.146
19.232
19.312
1.5
1.3
1.1
19.469
19.534
19.631
19.721
1.7
1 .2
1.1
1 .6
2 .0
1 .2
1.1
1 .6
2 .0
3,513.3
3,560.9
3,633.2
3,720.8
3,482.6
3,545.5
3,612.1
3,710.2
3,543.6
3,592.2
3,662.4
3,747.6
1 0 .2
6.5
7.4
7.7
11.3
19.805
19.893
19.980
20.103
19.380
19.466
19.557
19.691
19.801
19.887
19.960
20.088
19.785
19.871
19.944
20.073
1.7
1.4
2 .0
1 .8
1 .8
1 .8
1.7
1.5
2 .0
1 .8
1.9
2.5
2 .8
2 .6
I
II....................
I ll...................
IV...................
3,812.2
3,824.9
3,850.0
3,881.2
3,772.1
3,789.2
3,820.7
3,831.5
3,839.9
3,852.6
3,877.2
3,909.5
1 0 .2
6 .8
1 .8
20.227
20.418
20.608
20.790
19.801
19.990
20.163
20.329
20.218
20.391
20.601
20.791
20.203
20.375
20.585
20.775
2.5
3.8
3.8
3.6
2.3
3.9
3.5
3.3
2 .6
2 .6
3.5
4.2
3.7
3.4
4.2
3.7
............
3,915.4
3,916.2
3,947.5
3,977.6
3,870.3
3,911.6
3,931.6
3,966.4
3,943.4
3,943.5
3,977.4
4,006.7
3.6
20.892
2 0 .8 8 6
20.870
20.981
21.187
21.421
2 .0
1 .6
20.997
21.203
21.438
2.5
3.7
4.5
2.5
3.8
4.4
1 .8
2.1
1 .8
2.1
4.0
4.5
4.0
4.5
4,059.5
4,128.5
4,156.7
4,174.7
4,049.4
4,090.1
4,148.7
4,175.1
4,089.4
4,158.9
4,188.1
4,205.9
I
II....................
Ill...................
IV...................
4,240.5
4,252.8
4,279.7
4,259.6
4,218.2
4,239.0
4,260.9
4,261.7
4,271.7
4,283.0
4,308.6
4,288.5
............
4,252.9
4,260.7
4,298.6
4,253.0
4,273.3
4,265.1
4,303.3
4,295.3
4,282.5
4,291.2
4,328.7
4,280.7
I
II....................
I ll...................
IV...................
4,370.3
4,395.1
4,430.2
4,442.5
4,348.5
4,378.5
4,417.1
4,470.3
4,402.9
4,429.4
4,461.4
4,475.3
11.5
2.3
3.2
............
4,521.9
4,629.1
4,673.5
4,750.5
4,532.4
4,607.7
4,649.2
4,757.4
4,556.1
4,662.9
4,710.0
4,786.8
7.3
9.8
3.9
I
II ....................
I ll...................
IV...................
4,872.0
4,928.4
4,902.1
4,948.8
4,861.7
4,885.5
4,891.6
4,897.2
4,913.7
4,972.8
4,953.7
5,000.8
I
II ....................
I ll...................
IV...................
............
4,905.4
4,918.0
4,869.4
4,850.2
4,891.2
4,896.6
4,881.5
4,810.6
4,966.3
4,975.6
4,921.9
4,895.5
-3.5
............
4,791.2
4,827.8
4,909.1
4,973.3
4,848.2
4,897.9
4,941.9
5,000.3
5,086.3
5,124.6
5,149.7
5,187.1
5,069.4
5,086.5
5,118.0
5,189.5
............
I
I I ....................
I ll...................
IV...................
............
I
I I ....................
I ll...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II ....................
I ll...................
IV...................
............
I
II ....................
I ll...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
I ll...................
IV...................
6 .6
5.5
8.4
1 0 .0
1.3
2.7
3.3
0 .1
3.2
3.1
8.5
7.0
3.4
1.1
4.1
4.3
1.7
0 .8
1 .0
1 .0
0.4
0.7
2.4
1.1
1 .2
0.9
1.4
1.5
1.5
2 .6
21.445
8 .6
21.676
21.918
22.130
22.437
21.173
21.395
21.618
21.919
21.672
21.899
22.115
22.426
21.656
21.883
22.099
22.409
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.7
4.5
4.3
4.0
5.7
22.663
22.966
23.299
23.591
22.128
22.426
22.743
23.032
22.660
22.952
23.280
23.581
22.642
22.934
23.262
23.562
4.1
5.5
5.9
5.1
3.9
5.5
5.8
5.2
4.2
5.3
5.8
5.3
4.2
5.3
5.8
5.3
23.918
24.261
24.453
24.763
23.366
23.690
23.912
24.225
23.915
24.247
24.438
24.752
23.897
24.229
24.420
24.733
5.7
5.9
3.2
5.2
5.9
5.7
3.8
5.3
5.8
5.7
3.2
5.2
5.8
5.7
3.2
5.2
25.136
25.473
25.727
25.932
24.584
24.915
25.187
25.399
25.126
25.455
25.711
25.918
25.108
25.437
25.694
25.900
6 .2
6.1
6 .2
6 .2
5.5
4.0
3.2
5.5
4.4
3.4
5.3
4.1
3.3
5.3
4.1
3.2
26.356
26.508
26.751
27.064
25.797
25.974
26.229
26.536
26.319
26.475
26.731
27.083
26.301
26.457
26.713
27.067
6.7
2.3
3.7
4.8
6.4
4.0
4.8
6.3
2.4
3.9
5.4
6.3
2.4
3.9
5.4
5.4
7.7
7.6
7.7
4.8
6.3
4.8
6.4
8 .0
8 .2
8 .0
8 .2
7.9
9.9
12.4
12.5
7.9
9.9
12.4
12.5
2 .6
4.2
1 .2
2 .6
-1.9
2 .0
2.1
0.1
- 0 .6
0.7
3.6
-4.2
- 0 .8
3.6
-0.7
1.1
5.0
2 .8
3.6
4.9
5.7
6 .8
3.7
9.6
1 0 .6
9.1
4.7
- 2 .1
3.9
0.5
0.5
27.418
27.875
28.407
28.894
26.885
27.391
27.895
28.415
27.403
27.828
28.370
28.932
27.388
27.813
28.354
28.917
7.9
7.0
-3.9
- 1 .6
-0.5
0.4
- 1 .2
-5.7
29.491
30.151
31.090
32.050
29.170
30.006
30.929
31.832
29.488
30.192
31.085
32.015
29.470
30.172
31.064
31.991
8.5
9.3
13.1
12.9
4,829.3
4,866.2
4,950.6
5,022.6
-4.8
3.1
6.9
5.3
3.2
4.2
3.6
4.8
32.788
33.265
33.886
34.484
32.528
33.019
33.591
34.173
32.757
33.245
33.864
34.463
32.734
33.222
33.843
34.442
9.5
5.9
7.7
7.2
5,134.3
5,174.4
5,200.0
5,238.6
9.4
3.0
5.6
1.4
2.5
5.7
34.871
35.238
35.710
36.322
34.560
34.934
35.437
36.019
34.837
35.208
35.686
36.331
34.818
35.190
35.670
36.315
4.6
4.3
5.5
7.0
2 .0
1.1
0.9
0.9
1.3
1.4
3.6
1.7
2.9
1.1
0.9
0.9
20.410
20.535
20.725
20.948
6.5
1 .0
0.4
0.5
2 1 .0 2 0
2 1 .2 1 2
4.1
5.9
6 .8
1.7
1 .8
1 .8
2.1
2 .8
1.1
1.7
1 .8
2 .0
5.3
6 .8
2 .8
1 1 .1
1 2 .0
12.9
1 2 .2
9.0
9.6
9.6
6 .2
6 .1
6.1
7.1
7.1
7.7
7.3
7.7
7.3
4.6
4.4
5.9
6.7
4.4
4.3
5.5
7.4
4.4
4.3
5.6
7.4
February 2012
Survey
of
D-55
C u r r e n t B u s in e s s
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
1977:
1978:
1979:
1980:
1981:
1982:
1983:
1984:
1985:
1986:
1987:
1988:
1989:
1990:
1991:
1992:
1993:
1994:
............
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
I
II....................
Ill...................
IV...................
5,247.3
5,351.6
5,447.3
5,446.1
5,238.2
5,322.4
5,378.4
5,422.3
5,306.1
5,409.2
5,504.3
5,496.9
............
5,464.7
5,679.7
5,735.4
5,811.3
5,429.2
5,644.6
5,696.4
5,769.5
5,523.4
5,728.7
5,788.8
5,872.6
5,821.0
5,826.4
5,868.3
5,884.5
5,787.8
5,787.5
5,871.4
5,898.2
I
II....................
I ll...................
IV...................
5,903.4
5,782.4
5,771.7
5,878.4
............
6 ,0 0 0 . 6
Percent change from
preceding period
Real gross
domestic
product
Chain-type price indexes
[2005=100]
Real final
sales of
domestic
product
Implicit price deflators
[2005=100]
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
4.7
3.8
8 .2
6 .6
- 0 .1
4.3
3.3
36.933
37.523
38.042
38.685
36.698
37.326
37.896
38.550
36.943
37.470
37.927
38.758
36.925
37.454
37.913
38.742
6.9
6.5
5.6
6.9
7.8
7.0
7.4
1.4
16.7
4.0
5.4
0.5
16.8
3.7
5.2
39.324
40.082
40.776
41.607
39.178
39.934
40.627
41.404
39.326
40.050
40.716
41.575
39.309
40.035
40.701
41.560
6 .8
6.7
7.9
7.1
7.9
5,883.8
5,896.8
5,952.3
5,967.8
0.7
0.4
2.9
1.3
0 .0
1.1
1 .8
42.370
43.401
44.298
45.175
42.204
43.280
44.382
45.467
42.318
43.362
44.301
45.194
42.303
43.344
44.283
45.174
5,909.6
5,793.8
5,869.3
5,921.8
5,988.3
5,860.9
5,845.6
5,938.6
1.3
-7.9
-0.7
7.6
-7.6
5.3
3.6
46.165
47.196
48.273
49.633
46.717
47.867
48.955
50.253
46.144
47.178
48.256
49.593
46.125
47.157
48.235
49.571
6,064.8
6,013.2
6,089.3
6 ,0 2 2 .1
8 .6
5,952.7
6,025.0
5,950.0
5,950.9
5,962.7
5,969.6
5,934.4
50.937
51.847
52.799
53.720
51.577
52.504
53.316
54.238
50.851
51.813
52.730
53.692
50.831
51.791
52.711
53.674
5,852.3
5,884.0
5,861.4
5,866.0
5,917.7
5,915.2
5,876.5
5,963.5
5,920.6
5,960.6
5,926.3
5,928.6
6.1
54.477
55.152
55.918
56.511
54.952
55.540
56.278
56.853
54.421
55.080
55.864
56.470
54.402
55.059
55.842
56.449
5,938.9
6,072.4
6,192.2
6,320.2
6,026.5
6 ,1 1 1 .8
6,225.2
6,307.0
6 ,0 0 0 .8
4.3
5.8
7.6
5.4
56.995
57.411
57.997
58.416
57.205
57.599
58.161
58.496
56.929
57.345
57.929
58.355
6,442.8
6,554.0
6,617.7
6,671.6
6,349.2
6,465.6
6,525.2
6,620.3
6,507.2
6,618.8
6,681.9
6,728.7
7.1
3.9
3.3
2.7
7.5
3.7
6 .0
59.141
59.675
60.163
60.517
59.222
59.749
60.163
60.482
6,734.5
6,791.5
6,897.6
6,950.0
6,732.5
6,783.8
6,894.0
6,922.1
6,780.0
6,840.0
6,937.6
6,994.5
3.8
3.4
6.4
3.1
7.0
3.1
6.7
1.7
61.209
61.524
61.816
62.195
7,016.8
7,045.0
7,112.9
7,147.3
6,993.4
7,046.1
7,145.3
7,185.8
7,055.9
7,073.0
7,144.3
7,168.5
3.9
4.2
3.1
5.8
2.3
I
II....................
Ill...................
IV...................
7,186.9
7,263.3
7,326.3
7,451.7
7,166.6
7,262.2
7,348.9
7,382.0
7,210.9
7,293.5
7,355.6
7,483.8
2 .2
1.1
4.3
3.5
7.0
5.4
4.9
............
7,490.2
7,586.4
7,625.6
7,727.4
7,491.1
7,581.4
7,617.4
7,715.3
7,530.3
7,623.1
7,658.6
7,763.7
2.1
6 .0
5.2
5.5
4.9
1.9
5.2
7,799.9
7,858.3
7,920.6
7,937.9
7,752.5
7,827.8
7,926.4
7,936.3
7,835.6
7,892.6
7,957.7
7,983.3
3.8
3.0
3.2
0.9
1.9
3.9
5.1
0.5
8 ,0 2 0 . 8
8,052.7
8,052.6
7,982.0
8,022.4
8,025.9
8,041.7
8,013.2
8,063.5
8,096.6
8,089.6
8,050.1
4.2
4.4
1 .6
0 .0
0 .2
0 .8
-3.5
-1.4
7,943.4
7,997.0
8,030.7
8,062.2
7,981.1
8,038.5
8,049.6
8,042.3
7,994.7
8,033.4
8,062.6
8,104.4
-1.9
2.7
1.7
-
1 .6
I
II....................
Ill...................
IV...................
8,150.7
8,237.3
8,322.3
8,409.8
8,166.6
8,225.0
8,315.4
8,401.9
8,192.3
8,278.3
8,359.1
8,447.8
4.5
4.3
4.2
4.3
............
8,425.3
8,479.2
8,523.8
8,636.4
8,396.4
8,466.8
8,533.2
8,635.4
8,472.8
8,518.0
8,570.1
8,663.0
0.7
8,720.5
8,839.8
8,896.7
8,995.5
8,681.6
8,754.7
8,849.6
8,920.7
8,755.9
8,870.0
8,924.0
9,022.1
I
II....................
Ill...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV..................
............
I
II....................
Ill...................
IV...................
............
I
II....................
I ll...................
IV...................
6,138.3
6,259.3
6,389.9
-3.2
4.9
-4.9
-6.4
2 .2
-1.5
0.3
6 .0
7.6
6 .8
1 0 .2
1 0 .2
8.9
8.3
9.0
8.3
9.4
8.7
9.3
9.5
1 1 .8
1 1 .0
1 1 .6
8.7
9.3
9.5
11.5
10.9
7.3
7.5
7.2
1 1 .0
10.5
7.8
7.3
7.5
1 0 .6
7.4
6.3
7.1
5.8
5.0
5.7
4.3
5.4
4.3
5.4
4.1
5.5
4.9
5.8
4.4
5.5
4.9
5.8
4.4
56.909
57.328
57.913
58.340
3.5
3.0
4.1
2.9
2.5
3.3
3.0
4.1
3.0
3.3
3.0
4.1
3.0
59.096
59.602
60.081
60.465
59.079
59.585
60.063
60.446
5.1
3.7
3.3
2.4
5.2
3.5
3.3
5.2
3.5
3.2
2 .6
2 .6
61.060
61.408
61.730
62.221
61.136
61.483
61.736
62.140
61.114
61.467
61.729
62.131
4.7
1.9
2.5
2.1
4.5
2.3
1.7
4.5
2.3
1.7
3.2
2 .6
2 .6
62.511
62.823
63.219
63.676
62.563
62.690
63.133
63.615
62.456
62.786
63.143
63.567
62.444
62.769
63.124
63.545
2 .0
2 .0
2 .2
0 .8
2 .0
2.1
2 .0
2 .1
2.5
2.9
2.9
3.1
2.3
2.7
2.3
2.7
64.177
64.537
65.046
65.512
64.244
64.699
65.245
65.723
64.160
64.526
65.033
65.530
64.142
64.513
65.019
65.516
3.2
2.3
3.2
2.9
4.0
2.9
3.4
3.0
3.8
2.3
3.2
3.1
3.8
2.3
3.2
3.1
66.039
66.675
67.466
6 8 .0 1 0
66.276
66.910
67.536
68.138
66.068
66.689
67.442
67.953
66.053
66.674
67.426
67.940
3.3
3.9
4.8
3.3
3.4
3.9
3.8
3.6
3.3
3.8
4.6
3.1
3.3
3.8
4.6
3.1
68.720
69.405
69.876
70.316
68.893
69.639
70.017
70.510
68.723
69.399
69.855
70.317
68.710
69.390
69.849
70.314
4.2
4.0
2.7
2.5
4.5
4.4
2 .2
2 .8
4.6
4.0
2.7
2.7
4.6
4.0
2.7
2.7
71.170
71.997
72.666
73.265
71.465
72.130
72.946
73.863
71.166
71.993
72.655
73.239
71.164
71.987
72.651
73.239
4.9
4.7
3.8
3.3
5.5
3.8
4.6
5.1
4.9
4.7
3.7
3.3
4.9
4.7
3.7
3.3
74.371
74.707
75.198
75.642
74.026
74.553
75.133
75.569
74.025
74.551
75.127
75.562
4.3
2 .8
2 .8
1 .8
-0.4
74.049
74.567
75.131
75.557
3.1
2.3
2.7
2.4
4.4
2.9
3.1
2.3
4.4
2.9
3.1
2.3
6.3
2.9
4.5
4.2
75.984
76.436
76.776
77.212
76.115
76.589
77.032
77.418
75.954
76.423
76.778
77.214
75.942
76.411
76.765
77.204
2.3
2.4
1 .8
2.5
2.5
2.3
2.3
-0.3
3.4
3.2
4.9
77.687
78.109
78.476
78.883
77.838
78.270
78.568
78.942
77.677
78.106
78.466
78.897
77.673
78.106
78.468
78.901
2.5
2 .2
79.318
79.701
80.149
80.572
79.331
79.761
80.312
80.713
79.311
79.689
80.163
80.576
79.314
79.692
80.164
80.578
2 .2
5.9
0 .8
2 .0
0 .8
0.5
-2.3
- 1.1
- 0 .2
- 2 .6
1 .6
3.9
1.9
-
1 .8
2 .1
2 .6
6 .0
7.6
6 .8
8.7
8 .0
4.5
6.9
5.9
5.0
9.0
7.3
8.5
4.0
5.6
6.9
5.8
5.0
9.1
Gross
national
product
7.3
8.1
5.4
7.1
Gross
domestic
product
8.7
5.1
9.3
2 .6
2.1
7.9
7.1
8.4
6 .2
Implicit pric e deflators
1 .6
2.9
0 .6
3.4
4.4
3.2
7.5
1 0 .1
8.5
8 .2
9.1
9.2
9.4
2.1
2 .2
1.9
2.1
1.9
2.3
2.1
8 .0
1 0 .6
1 0 .6
1 0 .1
11.5
1 0 .2
2 .8
4.0
2.3
5.1
3.6
2 .8
2 .1
3.9
2.3
7.8
7.3
7.5
2 .1
2 .0
2 .0
2.5
1.9
2.3
2.5
1.9
2.3
2 .2
2 .2
2.4
2.5
2 .2
2 .2
1.5
1.9
1.9
1.9
2 .2
2 .2
2.1
2.1
2 .0
2 .2
2 .8
2 .0
1.9
2.4
1.9
2.4
2 .1
2.1
D-56
February 2012
National Data
Table C.1. GDP and Other Major NIPA Aggregates—Table Ends
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Real gross
domestic
product
Chain-type price indexes
[2005=100]
Real final
sales of
domestic
product
82.625
82.929
83.340
83.721
82.711
82.990
83.357
83.823
82.670
82.987
83.250
83.710
82.678
82.996
83.257
83.716
84.189
84.344
84.534
84.806
84.251
84.447
84.742
85.055
84.256
84.450
84.744
85.054
2.1
1.1
2 .6
84.147
84.522
84.758
85.080
2.5
6.9
4.7
7.0
85.207
85.417
85.736
85.962
84.760
84.882
85.125
85.369
85.198
85.402
85.729
85.988
85.197
85.399
85.726
85.986
86.326
86.689
86.993
87.350
85.706
86.172
86.581
87.048
86.371
86.675
86.998
87.305
86.368
86.673
86.996
87.303
88.015
88.462
88.984
89.435
87.852
88.227
88.791
89.278
8 8 .0 0 0
88.446
88.979
89.447
87.997
88.442
88.977
89.444
90.052
90.679
90.969
91.225
89.811
90.216
90.350
90.416
90.054
90.666
90.952
91.232
90.051
90.662
90.950
91.230
90.725
91.305
91.698
92.265
91.555
91.965
92.363
92.894
91.551
91.960
92.356
92.887
9,285.0
9,434.1
9,511.9
9,621.4
2 .8
9,624.4
9,701.0
9,854.1
9,917.5
9,685.0
9,837.4
9,951.3
10,019.8
3.1
2 .8
6.1
Il"
V.
9,658.0
9,801.2
9,924.2
10,000.3
5.1
3.1
3.2
6.5
Il"
V.
10,094.8
10,185.6
10,320.0
10,498.6
9,979.8
10,148.4
10,265.5
10,439.6
10,124.7
10,212.5
10,331.5
10,512.2
3.8
3.6
5.4
7.1
2.7
5.1
5.0
5.2
4.1
4.8
1.7
1998:
Gross
domestic
product
3.5
5.9
9,251.4
9,384.0
9,425.0
9,557.2
1997:
Gross
domestic
product
2.4
9,239.3
9,399.0
9,480.8
9,584.3
7.1
3.5
4.4
Implicit price deflators
81.042
81.403
81.787
82.202
Il"
V.
1996:
Chain-type price index
81.038
81.397
81.780
82.195
V.
2 .8
Gross
national
product
81.178
81.608
81.908
82.277
9,056.1
9,078.7
9,137.3
9,214.6
1 .0
Gross
domestic
product
81.054
81.416
81.760
82.180
8,958.7
9,011.7
9,119.0
9,172.2
0.9
3.4
Gross
domestic
purchases
Percent change from preceding period
1.7
2.4
4.9
2.4
9,017.6
9,037.0
9,112.9
9,176.4
1995:
Gross
domestic
product
Implicit price deflators
[2005=100]
1 .8
5.7
Gross
domestic
purchases
Gross
national
product
2.3
2.1
1.5
2.3
1.9
1.9
1 .8
2 .0
2.0
2 .2
2 .1
1.5
1.4
2 .0
1 .8
1 .8
2.3
1.5
1.3
2.3
1.5
1.3
2.3
2 .2
2 .2
1 .8
1.5
0.7
0.9
1.3
2.6
0.9
1.4
1.5
2.6
0.9
1.4
1.5
0.6
- 0 .2
0.7
0.7
1 .0
1 .0
1.5
0 .6
1 .2
1 .2
1.5
1.2
1.5
1.7
1.7
1.4
1.7
1 .6
2 .2
1 .8
1 .8
1.4
1.5
1.4
1.4
1.5
1.4
3.1
2.0
2.4
3.7
1.7
3.2
3.2
2.0
2.0
2 .6
2 .2
2.4
2.4
2 .1
2 .1
2.8
2.4
2 .8
1.3
1 .8
0 .6
2.7
2.7
1.3
2.7
2.7
1.3
1.1
0.3
1.2
1.2
1.5
1.4
1.4
1.4
1 .8
1 .8
2 .6
1 .8
1 .8
2.3
1.7
2.5
1.7
2.3
1.7
2.3
2 .8
1 .2
2 .2
2 .1
1 .8
1.7
2.1
1.8
1.0
1.1
1 .8
2.3
1 .8
1.2
Il"
V.
10,592.1
10,674.9
10,810.7
11,004.8
10,508.3
10,639.1
10,770.5
10,908.1
10,619.0
10,707.5
10,839.7
11,045.6
3.6
3.2
5.2
7.4
11,033.6
11,248.8
11,258.3
11,325.0
11,018.2
11,148.4
11,196.8
11,268.5
11,069.2
11,288.1
11,292.8
11,386.8
1.1
8 .0
Il"
V.
Il"
V.
11,287.8
11,361.7
11,330.4
11,370.0
11,325.6
11,375.7
11,364.1
11,462.6
11,333.9
11,416.9
11,360.3
11,468.8
-1.3
2.7
- 1.1
1.4
11,485.7
11,518.2
11,569.9
11,560.8
11,523.3
11,564.5
11,638.7
11,661.7
3.5
Il"
V.
11,467.1
11,528.1
11,586.6
11,590.6
2.1
2 .0
0 .1
-0.3
91.555
91.958
92.361
92.894
11,638.9
11,737.5
11,930.7
12,038.6
11,609.6
11,742.6
11,928.6
1 2 ,0 0 1 .1
11,694.9
11,808.1
1 2 ,0 0 0 . 8
12,136.0
1.7
3.4
6.7
3.7
1.7
4.7
6.5
2.5
93.548
93.819
94.337
94.833
93.152
93.214
93.744
94.225
93.543
93.815
94.337
94.818
93.538
93.810
94.332
94.814
2 .8
1 .2
2 .2
3.9
0.3
2.3
2.8
Il"
V.
2.1
2.1
2.1
12,066.5
12,118.4
12,224.2
12,316.1
12,234.0
12,285.1
12,386.7
12,460.7
2.7
2 .2
2 .6
Il"
V.
12,117.9
12,195.9
12,286.7
12,387.2
1.7
3.5
3.0
95.640
96.455
97.163
97.876
95.168
96.016
96.782
97.693
95.643
96.450
97.149
97.874
95.639
96.448
97.146
97.872
3.4
3.5
3.0
3.0
4.1
3.6
3.2
3.8
3.5
3.4
2.9
3.0
3.5
3.4
2.9
12,424.1
12,555.2
12,658.5
12,654.2
12,623.4
12,667.7
12,776.9
12,812.4
4.2
Il"
V.
12,515.0
12,570.7
12,670.5
12,735.6
98.784
99.444
100.467
101.305
98.571
99.333
100.539
101.558
98.776
99.437
100.458
101.302
98.774
99.436
100.461
101.306
3.8
2.7
4.2
3.4
3.6
3.1
4.9
4.1
3.7
2.7
4.2
3.4
3.7
2.7
4.2
3.4
12,831.9
12,877.3
12,882.8
13,005.3
12,974.7
13,021.6
13,009.6
13,107.3
5.1
102.055
102.948
103.724
104.186
102.060
102.952
103.729
104.186
3.5
2.9
3.0
3.5
3.0
3.0
3.5
3.1
3.9
102.259
103.147
103.878
104.133
3.0
3.6
3.0
2.7
102.055
102.955
103.731
104.206
2 .8
Il"
V.
12,896.4
12,948.7
12,950.4
13,038.4
1.8
1 .0
1 .8
1.8
13,038.2
13,126.2
13,231.8
13,314.0
13,122.6
13,248.4
13,405.8
13,511.0
0.5
3.6
3.0
1.7
1 .0
105.396
106.116
106.457
106.956
105.275
106.099
106.626
107.609
105.380
106.098
106.453
106.958
105.382
106.098
106.453
106.963
4.6
2.8
1.3
1.9
4.5
3.2
4.7
Il"
V.
13,056.1
13,173.6
13,269.8
13,326.0
2 .0
3.7
1.3
1.9
4.7
2.7
1.3
1.9
13,266.8
13,310.5
13,186.9
12,883.5
13,277.8
13,325.9
13,225.6
12,972.9
13,431.7
13,476.6
13,367.4
12,991.9
- 1 .8
1.3
-3.7
-8.9
-
IL
V.
1.5
-3.0
-7.4
107.623
108.282
109.107
109.247
108.703
109.893
110.982
109.852
107.591
108.302
109.162
109.300
107.600
108.312
109.176
109.295
2.5
2.5
3.1
0.5
4.1
4.5
4.0
-4.0
2.4
2.7
3.2
0.5
2.4
2.7
3.2
0.4
12,836.0
12,830.0
12,875.1
12,869.5
12,785.6
12,770.7
12,844.9
12,971.6
-6.7
-0.7
1.7
3.8
-4.2
- 0 .2
1.4
- 0 .2
109.709
109.589
109.662
109.969
109.340
109.472
109.913
110.485
109.717
109.594
109.658
109.943
109.705
109.582
109.649
109.931
1.7
-0.4
0.3
-1.9
0.5
1.5
-0.4
1.5
-0.4
Il"
V.
12,663.2
12,641.3
12,694.5
12,813.5
1 .6
2.1
0 .2
0 .2
1 .0
12,895.9
12,992.2
13,046.0
13,181.6
13,092.9
13,238.4
13,328.9
13,383.9
3.9
3.8
2.5
2.3
0 .8
110.370
110.770
111.162
111.699
111.057
111.190
111.456
112.048
110.358
110.793
111.156
111.644
110.345
110.769
111.133
111.623
1.5
1.5
1.4
1.9
2.1
Il"
V.
12,937.7
13,058.5
13,139.6
13,216.1
13,227.9
13,271.8
13,331.6
13,422.4
13,182.8
13,236.2
13,340.9
13,367.4
13,432.2
13,504.2
13,567.9
0.4
1.3
0 .0
1 .6
IL
V.
1 .8
2 .8
3.2
112.390
113.091
113.811
113.935
113.147
114.081
114.642
114.873
112.398
113.118
113.836
113.946
112.379
113.106
113.823
2.5
2.5
2.6
0.4
1999:
2000:
2001:
2002:
2003:
2004:
2005:
2006:
2007:
2008:
2009:
2010:
2011:
0.3
2.4
2 .6
2 .0
1 .8
-0.4
3.5
0 .8
1.1
1 .8
3.0
3.3
3.2
3.6
4.3
3.3
2.1
- 0.1
1 .8
5.7
1.4
1 .6
0.1
0 .2
2.7
3.3
2.5
1.1
3.0
1.7
4.2
0 .8
2.0
1.1
1.9
2 .2
1.2
2 .2
2 .8
1.0
1.5
0.5
1 .6
1 .0
2.1
1.3
1.8
4.0
3.3
2.7
2 .0
0 .8
2.6
2 .6
0.4
3 .0
1.5
1.5
1.3
1 .8
2.7
2.6
2.6
February 2012
D-57
D. C harts
All series are seasonally adjusted at annual rates. The percent changes in real gross domestic product are based on quarter-to-quarter
changes. The shaded areas mark the beginning and end of recessions as determined by the Business Cycle Dating Committee of the
National Bureau of Economic Research.
SELECTED NIPA SERIES
Th ousan ds of chained (2005) dollars
U.S. Bureau of Economic Analysis
N ational Data
D-58
February 2012
SELECTED NIPA SERIES
Percent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
SHARES OF FEDERAL GOVERNM ENT RECEIPTS
- 50
Personal current taxes
,-s
,
\y
i
^
'•
- 40
Contributions for governm ent social insurance
2 0
30
-
-
20
-
10
Taxes on corporate income
Taxes on production and im ports
Percent
Dec Nov
Nov
Mar
Ja n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
S HARES O F FEDERAL
»
60
V j.
A -
_
50
40
- 30
-
20
10
Percent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
RATIO, NET G O VERNM ENT SAVING TO G ROSS DOMESTIC PRODUCT
2
Dec
Jun
4
Net governm ent saving
-
-
2
-
0
State and loca
-
0
-
2
-
Federa
-
_4~
-
-2
-4
-6
-------- 6
-8
-8
10
H
-1 2
U.S. Bureau of Economic Analysis
—
10
-1 2
February 2012
S urvey
of
D-59
C u r r e n t B u s in e s s
SELECTED NIPA SERIES
Percent
Percent
Percent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
N ational Data
D-60
February 2012
SELECTED NIPA SERIES
2010
1963
S HARES O F NATIONAL INCOME
Supplem ents to wages
and salaries, 5.4%
W age and salary
accruals, 56.3%
S upplem ents to wages
and salaries, 12.4%
W age and salary
accruals, 49.9%
P roprietors’ income,
P roprietors’ income, 10.1%
8 .2 %
Rental income
of persons, 2.3%
Rental income
of persons, 3.5%
Corporate profits, 12.7%
Corporate profits, 12.2%
Net interest and misc. payments,
5.8%
Net interest and misc. payments, 2.7%
Other, 0.3%
Taxes on production and imports, 9.5%
SHARES OF G ROSS DO MESTIC PRODUCT BY SECTOR
O ther 0 5%
1963
^axes on production and im ports, 8.3%
2010
Business 75.2%
Business, 79.0%
Households, 7.1%
Households, 6.3%
Nonprofit institutions serving
households, 2.5%
General government,
federal, 4.0%
G eneral government,
federal 6 .2 %
General government,
state and local, 8 .2 %
G eneral governm ent,
state and local 6 .0 %
SHARES OF GROSS DO M ESTIC PURCHASES
2010
1963
Personal consum ption
expenditures, 62.5%
Nonprofit institutions
serving households,
5.4%
Personal consum ption
expenditures, 6 8 .2 %
Private nonresidential
investment, 1 0 . 1 %
Private residential
investment, 5.2%
Private nonresidential
investment, 9.8%
Private residential
investment, 2 .2 %
Federal government,*
0%
Federal governm ent,* 12.5%
State and local
governm ent,* 1 1 .8 %
and local governm ent,* 9.7%
'C onsum ption expenditures and gross investment
U.S. Bureau of Economic Analysis
February 2012
S urvey
of
D-61
C u r r e n t B u s in e s s
SELECTED NIPA SERIES
Percent
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
Dec
Jun
70
70
60-
-6 0
50-
-5 0
40-
-4 0
30-
-3 0
2 0
-
- 2 0
1 0
-
- 1 0
0
0
Percent
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
Dec
Jun
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
Dec
Jun
EXPORTS AS SHARE 0
IMPORTS AS SHARE O l
Percent
Dec Nov
70
SHARES O F PERSONAL C O NSUM PTIO N EXPENDITURES BY TY PE O F PIRODUCT
60 -
Services
- 60
50 -
- 50
40 -
- 40
30 -
- 30
20
-
-
20
10
-
-
10
0
U.S. Bureau of Economic Analysis
D-62
SELECTED NIPA SERIES
National Data
February 2012
February 2012
D-63
Industry Data
E. Industry Table
The statistics in this table were published in tables 3a and 5a in “Annual Industry Accounts: Revised Statistics for
2003-2010” in the December 2011 S u r v e y o f C u r r e n t B u s i n e s s .
Table E.1. Percent Changes in Chain-Type Quantity and Price indexes for Value Added by Industry for 2008-2010
Chain-type
quantity indexes
Line
Chain-type
price indexes
Line
2008
2009
2008
2009
1
Gross domestic product................................................
-0.3
-3.5
3.0
2.2
1.1
1.2
2
Private industries.....................................................................
-1.0
-4.4
3.6
2.4
1.1
0.9
3
4
b
Agriculture, forestry, fishing, and hunting.....................
Farms..................................................................................
Forestry, fishing, and related activities...........................
1 2 .6
- 6 .0
10.8 -3.1
15.1 -O.fa
-5.4 -14.4
1.4 -20.7
-24.6
3.8 - 1 .8
15.7
17.8
fi
9
Mining.....................................................................................
Oil and gas extraction........................................................
Mining, except oil and gas................................................
Support activities for m ining.............................................
-3.8
?0.9 -6.1
- 6 .8
40 R -16.1
3.6
-7.5
?,5
21.7
11.4 -15.0
30.3 -44.7
43.9 -58.3
15.6
0.5
0.9 -18.0
19.6
36.7
3.2
-9.2
10
Utilities...................................................................................
11
12
8
8.7
2010
0 .8
6.1
4.6 -11.4
3.3
-0.9
13.2
-0.7
Construction.........................................................................
-6.6 -12.9
-3.2
0.6
1.3
-2.5
-5.8 -9.4
- 1 .6 -14.9
-7.7 -1 5 4
- 1 0 .0 -19.?
- 1.1
6.3
- 6 .8 -24.0
- 0 .6 -20.9
17.4
3.9
5.3 -7.0
-26.9 -72.6
-1.7 -7.1
-15.8 -27.6
1.1
-2.4
-10.9 -2.7
-10.9 - 1 .8
2.5 -24.4
-9.5 - 1 .8
-15.9
3.3
-0.7 - 1 3 '?
2 .2 -1 ? 3
-1 8 9
35
2.4
-16.9
11.2
17.0
4.4
1.9
-2.3
4.0
- 6 .2
-1 6
-4.7
9.9
3.4 -41.2
5.7
14.1
-0.7
-2.4
2.7
-4.3
29.8
-6.3
-4.0
-3.9
-3.1
23
24
2h
26
2/
28
29
Hll
31
3?
33
Manufacturing...
Durable goods
Wood products
Nonmetallic mineral products......................................
Primary melals
Fabricated metal products............................................
Machinery..
Computer and electronic products.............................
Electrical equipment, appliances, and components
Motor vehicles, bodies and trailers, and parts...........
Other transportation equipment..................................
Furniture and related products.....
Miscellaneous manufacturing........
Nondurable goods...............................
Food and beverage and tobacco products................
Textile mills and textile product mills
Apparel and leather and allied products.....................
Paper products................................
Printing and related support activities
Petroleum and coal products.........
Chemical products.........................
Plastics and rubber products.......................................
34
Wholesale trade....................................................................
-1.1
-13.5
3.9
35
Retail trade............................................................................
-5.7
-2.4
10.1
36
37
38
39
40
41
42
43
44
Transportation and warehousing.....................................
Air transportation...............................................................
Rail transportation.............................................................
Water transportation..........................................................
Truck transportation...........................................................
Transit and ground passenger transportation................
Pipeline transportation......................................................
Other transportation and support activities....................
Warehousing and storage................................................
0.9 -12.0
-3.0 - 1 0 .2
1 .6 -14.3
2 2 .1
7.4
-4.0 -16.9
4.4 -4.2
30.5 -16.9
2.4 -14.3
0 .6
- 1 .6
3.5
1 .8
2 .6
8 .8
8 .6
0.1
1 2 .2
2.1
45
46
47
48
49
Information............................................................................
Publishing industries (includes software).......................
Motion picture and sound recording industries.............
Broadcasting and telecommunications..........................
Information and data processing services......................
1.7
-7.7
-5.1
6.3
-3.6
- 2 .6
- 6 .8
-4.6
6 .0
2 .0
13
14
15
16
17
18
19
20
21
22
68
9.1
- 1 1 .0
13.1
30.6
0 .8
1 2 .8
31.6 -10.3 -3.3
- 1 1 .0
3.1
1 1 .1
116.9 -8.9
54.2 - 1 2 .2
-19.4
0.3
5.9 -0.7
28.8
1 .0
1 1 .8
-3.4
- 0 .2
1 0 .0
4.8 -0.5
5.1
7.2
5.0
1.3
7.0 17.5
18.4 -10.5
- 1 0 ./
2.7
6 .0
-1.9
-11.3
0.1
1.9 -0.3
11.7
-7.5
4.5
2 .8
-0 4 -3 9
•r?
- 2 .6
30 5 - 4 8 -? ? 4 28.9
- ? 3 13.0
90
0 ?
1.9
2.7
9.8 -2.5
1.9
-4.0
10.4
-0.4
-4.2
0 .1
4.6
3.0
3.5
5.2
3.4
-1.3
2.0
-
7.9
-0.1
1.4
1.1
-4.0
1.6
7.2
-0.7
3.0
2.5
5.8
-5.2
1.9
9.0
- 0 .8
- 2 .8
1.3
-1.3
1.5
3.6
-1.5
0.3
1.1
- 2 .8
-0.7
-5.9
9.0
5.9
9.4
8.7
1.4
0.2
1.9
0.9
-0.5
- 0.1
-1.6
-3.5
0 .0
-0.9
-2.7
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social
2008
2010
50
51
52
53
54
55
b6
b/
b8
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
/6
II
78
79
80
81
82
83
84
85
86
87
88
89
90
91
Chain-type
price indexes
Chain-type
quantity indexes
2009
Finance, insurance, real estate, rental, and leasing. ..
-0.7
1.1
Finance and insurance..................................................
-6.5
6.8
Federal Reserve banks, credit intermediation, and
1.7
related activities........................................................
6 .2
Securities, commodity contracts, and investments... -28.3
36.4
Insurance carriers and related activities.................... -10.3
3.4
Funds, trusts, and other financial vehicles................
40.5 -39.4
Real estate and rental and leasing..............................
2.8 -1.9
Real estate.....................................................................
2.7 - 1.1
Rental and leasing services and lessors of intangible
assets........................................................................
4.2 - 8 .6
Professional and business services...............................
3.9 -6.9
Professional, scientific, and technical services......
5.2 -7.0
Legal services...............................................................
0 .6 - 1 0 .8
Computer systems design and related services
6.4
2.7
Miscellaneous professional, scientific, and technical
services.....................................................................
6.5 - 8 .1
2.0 -2.4
Management of companies and enterprises............
1.7 -9.5
Administrative and waste management services. ..
1.7 -9.9
Administrative and support services..........................
Waste management and remediation services.........
1.9 - 6 .1
Educational services, health care, and social
assistance........................................................................
4.6
1.0
2.3
Educational services......................................................
0.8
Health care and social assistance..............................
5.0
1.0
5.2
0 .6
Hospitals and nursing and residential care facilities
5.1
1.5
? .8
0.7
Social assistance..........................................................
Arts, entertainment, recreation, accommodation, and
food services....................................................................
-5.1
-7.6
Arts, entertainment, and recreation...........................
-5.8
-3.8
Performing arts, spectator sports, museums, and
related activities........................................................
-3.2
^ .1
Amusements, gambling, and recreation industries...
-8.9 -3.4
Accommodation and food services...........................
-4.8 -8.8
Accommodation............................................................
- 6 .2 -14.7
Food services and drinking places............................
-4.2 -6.5
-4.2 -5.1
Other services, except government................................
Government...............................................................................
1.8
0.9
Federal...................
2.7
3.7
General government
3.9
5.9
-6.4 -13.1
Government enterprises..................................................
State and lo c a l.....................................................................
1.4 -0.4
General government.........................................................
1 .2
0.1
Government enterprises..................................................
3.2 - 6 .6
Addenda:
-6.4
Private goods-producing industries 1..................................
-5.1
Private services-producing industries 2 ..............................
0 .2
-3.9
Information-communications-technology-producing
industries 3 .........................................................................
1.7
6 .1
2008
2009
2.8
3.2
0.5
-1.2
1.7
6.0
40.7
-4.4
- b ./
4.0 -0.7
9.5 -14.3
3.5
-0.9
6 .6
4.9
1.4
2.6
1 .6
2.4
1 1 .0
0 .2
2 .6
0 .0
-1.0
- 1 .2
3.8
4.9
2.3
10.9
4 5 7.70.1
1.1
1.1
1.0
2.0
3.6
5.9
- 0 .8 -1.9
0.3
2.3
1.1
3.8
-3.1
4.2
-4.4
6.4
6.4
5.8
1.5
0.1
-0.6
- 1.1
3.9
0.9
-3.1
4.2
4.3
3.6
1.3
10.8
0.6
0.4
2.8
0.2
3.2
6.5
2.4
4.6
2.1
2.2
3.9
2.0
19
- 0 .2
2.7
2.1
? .1
3.9
5.4
3.6
33
4.3
2.5
7.8
6.b
3.1
2.4
4.3
2.1
-0.4
0.5
8.5
3.9
8.2
19.1
4.b
2.1
0.6
3.2
3.7
- 1.1
-0.7
-0.9
2.5
2.9
1 ./
3.3
2.3
1 ./
5.0
-1.9
0.9
- 0 .1
-0.7
-2.7
5.6
3.0
14.7
2010
-0.2
6.6
0 .8
18.4
6 .6
1 .6
1 .6
4.1
4.1
3.5
2.4
2.5
2 .0
4.0
4.2
1.4
2010
2 .0
2 .1
2.3
/.8
0 .0
4.8
2.7
1.8
2.5
1.9
2.6
1 .0
2 .8
1.1
9.1
3.1
2.5
1.6
1.7
1 1 .2
0 .2
4.2
1.9
-4.4
2 .6
1.5
0.7
-3.9
-1.3
-3.4
assistance; arts, entertainment, recreation, accommodation, and food services; and other sen/ices, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
D-64
February 2012
International Data
F. Transaction s Tables
Selected U.S. international transactions tables are presented in this section. For BEA’s full set of detailed estimates of U.S.
international transactions, visit BEA’s Web site at www.bea.gov.
Table F.1. U.S. International Transactions in Goods and Services
[Millions of dollars, m onthly estim ates seasonally adjusted]
2010
2010
2011
2011
Nov.
Dec.
Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov. r
D e c .p
Exports of goods and services...........................................
1,837,577 2,103,123 161,238 164,006 167,810 165,687 173,942 176,266 175,694 171,755 177,772 178,003 180,579 179,333 177,525 178,757
G oods...................................................................................
Foods, feeds, and beverages........................................
Industrial supplies and materials...................................
Capital goods, except automotive.................................
Automotive vehicles, parts, and engines......................
Consumer goods (nonfood), except automotive..........
Other goods......................................................................
Adjustments 1 ...................................................................
1,288,699 1,498,226 113,790 116,315 119,498 117,410 124,517 126,543 125,240 121,144 126,744 126,628 129,227 128,030 126,155 127,091
107,705
126,147 10,234 10,277 10,421
10,571
11,248
11,050 11,016 10,182 10,159 10,380 10,333 10,256 10,189 10,343
499,452 35,130 36,259 39,507 38,599 41,268 43,281
391,748
41,469 39,415 42,140 42,928 44,272 42,979 41,304 42,290
446,597
491,400 38,495 39,625 38,882 38,892 39,768 40,974 41,344 39,857 42,052 41,683 41,816 42,262 42,012 41,858
10,784
111,989
132,519
9,376
9,832
9,915 11,316 10,546 10,769 10,822 12,086
11,007 11,682
11,093 11,279 11,221
14,734 14,306 15,056
165,883
176,260 14,967 14,572 14,065 13,856 14,479
14,418 14,658 15,436 14,885 15,689 14,681
54,341
54,886
4,530
4,809
4,417
3,862
4,767
4,484
4,851
4,366
4,482
4,603
4,560
5,052
4,558
4,884
10,436
17,561
1,058
941
1,422
1,714
1,484
1,670
1,475
1,446
1,408
1,284
1,532
1,354
1,375
1,396
Services................................................................................
Travel.................................................................................
Passenger fa re s..............................................................
Other transportation........................................................
Royalties and license fees..............................................
Other private services.....................................................
Transfers under U.S. military agency sales contracts 2
U.S. government miscellaneous services.....................
Imports of goods and services...........................................
Goods...................................................................................
Foods, feeds, and beverages........................................
Industrial supplies and materials...................................
Capital goods, except automotive.................................
Automotive vehicles, parts, and engines......................
Consumer goods (nonfood), except automotive..........
Other goods......................................................................
Adjustments 1 ...................................................................
548,878
103,505
30,931
39,936
105,583
250,320
17,483
1,121
604,897
115,700
36,733
42,531
119,804
271,141
17,830
1,157
47,449
8,922
2,653
3,395
9,043
21,971
1,375
88
2,337,604 2,661,143 200,081
47,691
8,925
2,630
3,423
9,177
22,077
1,367
91
48,311
9,128
2,803
3,471
9,222
22,201
1,382
104
48,278
8,923
2,696
3,433
9,365
22,365
1,390
106
49,424
9,250
2,863
3,560
9,425
22,763
1,459
104
49,723
9,558
2,916
3,529
9,825
22,328
1,478
90
204,459 215,380 211,118 220,052 219,541
50,455
9,729
3,122
3,597
9,979
22,449
1,491
88
50,611
9,877
3,084
3,510
10,018
22,529
1,506
87
51,028
9,938
3,289
3,532
10,121
22,543
1,512
93
51,374
9,928
3,304
3,562
10,172
22,791
1,522
95
51,304
9,857
3,148
3,563
10,322
22,796
1,520
97
51,371
9,687
3,126
3,576
10,512
22,850
1,521
98
51,667
9,818
3,116
3,570
10,666
22,875
1,523
98
225,948 223,572 223,554 223,057 224,463 222,317 224,583 227,557
1,934,555 2,235,283 166,289 170,713 180,786 176,771 185,230 184,346 190,342 187,943 187,716 187,320 188,453 186,309 188,677 191,390
91,730
107,450
7,939
8,055
8,419
8,581
8,576
8,935
9,040
9,146
8,865
8,895
9,142
9,413
9,266
9,169
756,344 50,703 54,481
602,663
59,764 57,645 64,362 62,977 67,574 64,961
62,712 63,549 64,650 61,050 63,388 63,711
449,178
510,928 40,329 40,013 41,920 39,766 41,180 41,801
43,088 42,914 43,099 42,800 42,415 43,641
43,637 44,668
225,049
254,086 19,383 19,566 21,896
19,938 21,818 18,981
19,563 19,304 22,629 21,594 22,192 21,403 22,117 22,651
513,657 40,839 41,173 41,813 43,863 41,746 43,824 43,163 43,113 43,099 42,231
483,268
42,201
42,317 43,256
43,031
61,272
64,492
4,871
5,245
5,410
4,726
5,340
5,534
5,334
4,924
5,950
5,842
5,268
5,214
5,738
5,751
28,327
21,395
1,850
2,016
2,103
2,251
2,209
2,292
2,554
2,387
2,580
2,409
2,586
2,557
2,184
2,215
Services................................................................................
Travel.................................................................................
Passenger fa re s..............................................................
Other transportation........................................................
Royalties and license fees..............................................
Other private services.....................................................
Direct defense expenditures 2 ........................................
U.S. government miscellaneous services.....................
403,048
75,507
27,279
51,202
33,450
180,598
30,391
4,621
Memoranda:
Balance on goods.................................................................
Balance on services............................................................
Balance on goods and services.........................................
-645,857
145,830
-500,027
425,860
79,301
31,161
54,722
35,660
190,856
29,784
4,375
33,792
6,345
2,435
4,182
2,779
15,161
2,489
401
33,746
6,309
2,393
4,153
2,830
15,189
2,483
389
34,594
6,453
2,535
4,558
2,909
15,251
2,520
369
34,347
6,349
2,495
4,361
2,971
15,288
2,525
359
34,821
6,478
2,522
4,533
2,999
15,411
2,525
353
35,195
6,562
2,484
4,620
2,908
15,746
2,525
350
35,606
6,622
2,662
4,685
2,843
15,926
2,517
351
35,629
6,666
2,555
4,644
2,836
16,070
2,503
356
35,838
6,734
2,636
4,631
2,917
16,076
2,468
376
35,736
6,650
2,618
4,549
2,984
16,102
2,453
381
36,009
6,769
2,700
4,538
3,042
16,136
2,443
381
36,008
6,693
2,619
4,557
3,068
16,255
2,439
377
35,906
6,609
2,636
4,491
3,086
16,281
2,435
368
36,167
6,716
2,699
4,555
3,097
16,314
2,430
355
-737,057 -52,499 -54,399 -61,288 -59,361 -60,713 -57,803 -65,102 -66,799 -60,972 -60,692 -59,226 -58,280 -62,522 -64,300
179,037
13,657 13,945 13,717 13,930 14,603 14,528 14,848 14,981
15,189
15,638 15,343 15,296 15,464
15,500
-558,020 -38,842 -40,454 -47,571 -45,431 -46,110 -43,275 -50,254 -51,817 -45,782 -45,054 -43,884 -42,984 -47,058 -48,800
p Preliminary
to prepare international and national accounts,
r Revised
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring Census Bureau data in line with the concepts and definitions used by BEA
Source: U.S. Bureau of Economic Analysis and U.S. Census Bureau.
51,352
10,007
3,266
3,629
10,177
22,651
1,526
96
February 2012
S urvey
D-65
C u r r e n t B u s in e s s
of
Table F.2. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
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
71a
72
73
74
75
76
77
(Credits +; debits -)
Current account
Exports of goods and services and income receipts......................
Exports of goods and services...........................................................
Goods, balance of payments basis...............................................
Services.........................................................................................
Transfers under U.S. military agency sales contracts...............
Travel.........................................................................................
Passenger fares........................................................................
Other transportation..................................................................
Royalties and license fees........................................................
Other private services...............................................................
U.S. government miscellaneous services.................................
Income receipts..................................................................................
Income receipts on U.S.-owned assets abroad............................
Direct investment receipts.........................................................
Other private receipts
U.S. government receipts..........................................................
Compensation of employees.........................................................
Imports of goods and services and income payments...................
Imports of goods and services...........................................................
Goods, balance of payments basis...............................................
Services.........................................................................................
Direct defense expenditures......................................................
Travel.........................
Passenger fares
.....................................
Other transportation...
Royalties and license fees
Other private services...............................................................
U.S. government miscellaneous services.................................
Income payments...............................................................................
Income payments on foreign-owned assets in the United States
Direct investment payments......................................................
Other private payments.............................................................
U.S. government payments.......................................................
Compensation of employees.........................................................
Unilateral current transfers, net
U.S. government grants......................................................................
U.S. government pensions and other transfers.................................
Private remittances and other transfers............................................
Capital account
Capital account transactions, net......................................................
Financial account
U.S.-owned assets abroad, excluding financial derivatives
(increase/financial outflow ( - ) ) ......................................................
U.S. official reserve assets.................................................................
Gold...............................................................................................
Special drawing rights....................................................................
Reserve position in the International Monetary Fund...................
Foreign currencies
U.S. government assets, other than official reserve assets..............
U.S. credits and other long-term assets.......................................
Repayments on U.S. credits and other long-term assets.............
U.S. foreign currency holdings and U.S. short-term assets..........
U.S. private assets.............................................................................
Direct investment...........................................................................
Foreign securities..........................................................................
U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns................................................................
U.S. claims reported by U.S. banks and securities brokers..........
Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+)).....................................
Foreign official assets in the United States.......................................
U.S. government securities............................................................
U.S. Treasury securities.............................................................
Other.........................................................................................
Other U.S. government liabilities..................................................
U.S. liabilities reported by U.S. banks and securities brokers.......
Other foreign official assets...........................................................
Other foreign assets in the United States.........................................
Direct investment....................................
U.S. Treasury securities..........................
U.S. securities other than U.S. Treasury securities.......................
U.S. currency..........................................
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns................................................................
U.S. liabilities reported by U.S. banks and securities brokers
Financial derivatives, net.....................................................................
Statistical discrepancy (sum of above items with sign reversed)...
Of which: Seasonal adjustment discrepancy....................................
Memoranda:
Balance on goods (lines 3 and 20)
...................................................
Balance on services (lines 4 and 2 1).....................................................
Balance on goods and services (lines 2 and 19)...................................
Balance on income (lines 12 and 29)..
Unilateral current transfers, net (line 3 5)...............................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 76)
p Preliminary
r Revised
1. Calculated excluding financial derivatives, net (line 70).
2010
Seasonally adjusted
2010
201 1
2010
I
II
III
IV
I
II r
663,240
657,963
432,000
224,469
1,494
5,278
-2,835,620
-2,337,604
-1,934,555
-403,048
-30,391
-75,507
-27,279
-51,202
-33,450
-180,598
-4,621
-498,016
-483,504
-151,361
-196,004
-136,139
-14,512
-136,095
-44,717
-10,365
-81,013
586,563
428,716
299,461
129,255
4,312
21,976
6,740
9,473
24,924
61,462
369
157,847
156,530
101,554
54,584
392
1,317
-647,648
-527,269
-433,279
-93,990
-7,721
-16,448
-5,945
-11,172
-9,000
-42,617
-1,087
-120,379
-116,699
-33,823
-48,916
-33,960
-3,680
-36,235
-12,285
-2,587
-21,363
617,258
450,516
317,945
132,572
4,498
25,989
7,478
10,089
26,305
57,974
239
166,741
165,420
109,360
55,729
331
1,321
-708,059
-585,267
-482,761
-102,506
-7,590
-20,658
-7,260
-12,878
-7,876
-45,128
-1,116
-122,792
-119,240
-36,074
-48,997
-34,169
-3,552
-31,283
-10,005
-1,576
-19,702
632,881
465,348
320,991
144,357
4,532
30,268
8,871
10,131
26,046
64,262
247
167,532
166,211
110,068
55,785
358
1,322
-737,291
-613,391
-507,368
-106,023
-7,609
-21,823
-7,277
-14,134
-7,960
-45,999
- 1,221
-123,900
-120,482
-38,220
-48,098
-34,164
-3,419
-35,127
-11,031
-3,126
-20,969
664,116
492,996
350,302
142,694
4,141
25,272
7,841
10,244
28,308
66,622
266
171,120
169,802
111,018
58,371
413
1,317
-742,622
-611,677
-511,147
-100,530
-7,471
-16,578
-6,797
-13,018
-8,614
-46,853
-1,198
-130,945
-127,084
-43,245
-49,993
-33,846
-3,861
-33,450
-11,396
-3,076
-18,978
677,696
498,655
355,642
143,013
4,231
23,676
7,887
10,272
27,306
69,327
314
179,040
177,681
117,070
60,231
379
1,360
-739,879
-614,283
-515,123
-99,161
-7,570
-16,569
-7,204
-12,978
-8,894
-44,865
-1,081
-125,595
-121,944
-37,181
-51,014
-33,749
-3,651
-32,698
-10,987
-1,892
-19,819
716,493
523,425
375,279
148,146
4,474
30,059
8,848
10,712
29,875
63,913
265
193,069
191,709
127,615
63,593
502
1,359
-810,760
-675,535
-566,315
-109,220
-7,545
-22,406
-8,236
-13,670
-8,522
-47,785
-1,057
-135,225
-131,758
-46,256
-51,731
-33,771
-3,467
-33,848
-13,179
-1,680
-18,990
-152
-3
-2
-146
-2
-29
-829
-1,005,182 -319,416 -175,174 -293,629 -216,963 -343,848
-1,834
-773
-165
-1,096
200
-3,619
18,697
-6,267
2,500,817
1,837,577
1,288,699
548,878
17,483
103,505
30,931
39,936
105,583
250,320
1,121
0
0
0
0
0
0
III
0
-31
-1,293
-510
7,540
-4,976
2,408
10,108
-7
-6
-8
-1 0
1,961
-159
-77
-581
-956
321
-6,428
-5,974
-185
-82
-132
-1 1 1
-134
848
-2,441
9,433
788
-240
-547
-1,358
-1,247
-1,835
-1,027
-867
-1,307
-2,337
399
679
547
783
610
1,259
10,281
-1,389
1,136
80
150
-279
- 1 ,0 1 0 ,8 8 8 -328,076 -172,568 -293,321 -216,923 -339,681
26,322
-351,350 -116,555 -76,115 -85,529 -73,151 -98,693 -144,957
-151,916 -47,028 -22,114 -39,336 -43,438 -58,171 -30,444
7,421
10,932
-515,043 -175,425
4,382
-2,146
-78,721 -166,310
-5,747
-94,587
-95,007
-87,810
7,069
194,654
1,245,736
349,754
316,980
397,797
-80,817
12,124
-9,375
30,025
895,982
236,226
256,428
120,453
28,319
328,462
89,751
84,837
97,364
-12,527
4,007
-16,005
16,912
238,711
51,207
84,193
5,421
2,265
188,526
66,736
45,128
31,751
13,377
2,503
3,888
15,217
121,790
35,820
82,062
-15,475
467,361
135,477
123,736
188,994
-65,258
1,773
10,019
-51
331,884
83,901
60,659
82,076
10,514
261,387
57,790
63,279
79,688
-16,409
3,841
-7,277
-2,053
203,597
65,298
29,514
48,431
13,440
486,470
48,764
48,814
33,510
15,304
2,645
-3,073
378
437,706
27,769
3,466
-2,590
12,576
6,841
95,143
76,346
79,552
-3,206
2,089
15,319
1,389
-88,302
56,176
-59,320
-10,743
13,989
77,456
177,100
13,735
216,761
27,728
67,897
16,152
72,125
21,302
-4,019
9,980
98,754
1 1 ,6 6 8
16,758
30,156
-504
68,039
2 ,1 0 0
83,066
-11,893
-22,157
2011
I
II
III
I
II '
727,257
538,506
378,699
159,807
4,559
35,151
10,853
10,719
29,734
68,505
285
188,751
187,388
121,424
65,547
417
1,363
-824,282
-691,553
-580,848
-110,705
-7,364
-23,166
-8,228
-14,101
-8,720
-47,988
-1,138
-132,729
-129,377
-43,063
-52,382
-33,932
-3,352
-34,050
-10,956
-2,831
-20,262
595,359
436,501
304,572
131,929
4,312
25,212
7,135
9,719
25,615
59,568
369
158,857
157,540
102,518
54,584
438
1,317
-678,617
-556,144
-457,404
-98,740
-7,721
-19,085
-6,228
-11,919
-8,998
-43,702
-1,087
-122,473
-118,856
-35,980
-48,916
-33,960
-3,617
-35,034
-12,285
-2,548
- 2 0,201
616,163
451,134
315,954
135,180
4,498
25,395
7,725
9,998
26,227
61,097
239
165,030
163,708
107,629
55,729
350
1,321
-703,516
-581,657
-481,912
-99,745
-7,590
-18,291
-6,770
-13,018
-7,916
-45,045
-1,116
-121,859
-118,222
-35,056
-48,997
-34,169
-3,637
-32,947
-10,005
-2,590
-20,352
632,309
465,194
325,514
139,680
4,532
26,203
8,076
10,098
26,720
63,805
247
167,115
165,793
109,653
55,785
355
1,322
-717,682
-596,307
-493,336
-102,971
-7,609
-19,077
-7,022
-13,600
-8,177
-46,265
- 1,221
-121,375
-117,727
-35,465
-48,098
-34,164
-3,649
-34,754
-11,031
-2,616
-21,107
27,021
65,851
266
172,239
170,921
112,199
58,371
351
1,317
-735,804
-603,496
-501,904
-101,592
-7,471
-19,054
-7,259
- 1 2 ,6 6 6
-8,359
-45,585
-1,198
-132,309
-128,700
-44,861
-49,993
-33,846
-3,609
-33,360
-11,396
-2,611
-19,353
687,815
507,557
361,544
146,013
4,231
27,301
8,362
10,464
28,012
67,329
314
180,258
178,898
118,231
60,231
436
1,360
-775,129
-647,529
-543,767
-103,763
-7,570
-19,280
-7,552
-13,451
-8,879
-45,949
-1,081
-127,600
-124,012
-39,249
-51,014
-33,749
-3,588
-32,277
-10,987
-2,629
-18,661
715,046
523,834
373,045
150,789
4,474
29,164
9,122
10,636
29,822
67,306
265
191,212
189,852
125,736
63,593
523
1,359
-804,315
-670,040
-563,609
-106,430
-7,545
-19,850
-7,701
-13,949
-8,587
-47,741
-1,057
-134,276
-130,702
-45,200
-51,731
-33,771
-3,574
-35,449
-13,179
-2,654
-19,617
724,845
536,473
382,718
153,754
4,559
29,873
9,859
10,722
30,470
67,985
285
188,373
187,009
121,047
65,547
415
1,363
-802,120
-672,053
-564,469
-107,584
-7,364
-20,153
-7,954
-13,718
-8,943
-48,314
-1,138
-130,068
-126,489
-40,175
-52,382
-33,932
-3,578
-33,006
-10,956
-2,675
-19,375
0
-3
-2
-146
-2
-29
-829
0
-79,501 -313,010 -168,537 -286,834 -236,802 -334,359
-4,079
-773
-165
-1,096
200
-3,619
25,115
-6,267
-70,833
-4,079
p
0
0
0
656,986
484,747
342,659
142,088
4,141
26,695
7,994
1 0,121
0
0
III
p
0
0
-27
-7
-6
-8
-1 0
-159
1,961
-3,909
-581
-77
321
-5,974
-956
-6,428
-1 1 1
-134
-143
-185
-82
-132
848
-1,265
9,433
-2,441
-547
788
-240
-1,358
-1,034
-1,247
-1,027
-867
-2,337
-1,835
-1,307
407
399
783
679
547
610
1,259
-279
-638
10,281
-1,389
1,136
80
150
-74,157 -321,669 -165,931 -286,526 -236,762 -330,193
32,740
-79,432 -110,148 -69,478 -78,734 -92,990 -89,205 -138,539
-27,561 -47,028 -22,114 -39,336 -43,438 -58,171 -30,444
-27
-3,909
-143
-1,265
-1,034
407
-638
-65,490
-70,765
-27,561
18,944
10,932
13,892 -175,425
0
IV
4,382
-2,146
-78,721 -166,310
-5,747
-94,587
-95,007
-87,810
7,069
194,654
18,944
13,892
266,646
57,790
63,279
79,688
-16,409
3,841
-7,277
-2,053
208,856
70,557
29,514
48,431
13,440
487,194
48,764
48,814
33,510
15,304
2,645
-3,073
378
438,430
28,493
3,466
-2,590
12,576
2,767
95,143
76,346
79,552
-3,206
2,089
15,319
1,389
-92,376
52,102
-59,320
-10,743
13,989
254,742
24,371
15,733
31,311
-15,578
2,365
5,041
1,232
230,371
75,267
123,814
-22,962
9,614
1 1 ,6 6 8
16,758
30,156
-504
82,841
14,802
259,524
24,371
15,733
31,311
-15,578
2,365
5,041
1,232
235,153
80,049
123,814
-22,962
9,614
329,340
89,751
84,837
97,364
-12,527
4,007
-16,005
16,912
239,589
52,085
84,193
5,421
2,265
186,636
66,736
45,128
31,751
13,377
2,503
3,888
15,217
119,900
33,930
82,062
-15,475
2 ,1 0 0
463,115
135,477
123,736
188,994
-65,258
1,773
10,019
-51
327,638
79,655
60,659
82,076
10,514
42,045
24,204 -19,020
354,440 -112,608
63,658
7,504
3,220
n.a.
-50,932
95,901 1 -48,949
27,728
67,897
16,152
85,813
13,688
21,302
-4,019
9,980
92,223
-6,531
83,066
-11,893
-44,116
-21,959
24,204 -19,020
42,045
63,658
354,440 -112,608
3,220
7,504
n.a.
-36,436
90,161 1 -73,627
14,497
-5,740 -24,678
-645,857 -133,818 -164,817 -186,377 -160,845 -159,480 -191,036 -202,149 -152,832 -165,958 -167,822 -159,245 -182,222 -190,564 -181,750
38,334
43,852
49,102
44,359
46,170
145,830
35,265
30,066
42,165
38,926
33,189
35,435
36,709
40,496
42,250
-500,027 -98,553 -134,751 -148,042 -118,680 -115,628 -152,110 -153,047 -119,642 -130,523 -131,113 -118,749 -139,972 -146,205 -135,580
165,224
43,632
57,844
56,022
36,384
43,170
45,740
39,930
56,936
58,305
37,468
43,950
40,175
53,445
52,658
-136,095 -36,235 -31,283 -35,127 -33,450 -32,698 -33,848 -34,050 -35,034 -32,947 -34,754 -33,360 -32,277 -35,449 -33,006
-470,898 -97,320 -122,085 -139,537 -111,956 -94,881 -128,115 -131,074 -118,292 -120,300 -120,127 -112,179 -119,591 -124,719 -110,281
February 2012
International Data
D-66
Table F.3. U.S. International Transactions, by Area—Continues
[Millions of dollars]
Europe
Line
2 0 1 1 :11 r
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
6/
68
69
70
71
72
73
74
/fa
76
77
European Union
Euro area
United Kingdom
(Credits +; debits - )
Current account
Exports of goods and services and income receipts..........................
Exports of goods and services...............................................................
Goods, balance of payments basis....................................................
Services.............................................................................................
Transfers under U.S. military agency sales contracts...................
Travel.................................................................
Passenger fares...............................................
Other transportation..........................................
Royalties and license fees................................
Other private services......................................
U.S. government miscellaneous services.........
Income receipts..........................................................
Income receipts on U.S.-owned assets abroad....
Direct investment receipts................................
Other private receipts.......................................
U.S. government receipts..............................................................
Compensation of employees.............................................................
Imports of goods and services and income payments.......................
Imports of goods and services...............................................................
Goods, balance of payments basis....................................................
Services.............................................................................................
Direct defense expenditures..........................................................
Travel.............
Passenger fares............................................................................
Other transportation......................................................................
Royalties and license fees.............................................................
Other private services...................................................................
U.S. government miscellaneous services.....................................
Income payments...................................................................................
Income payments on foreign-owned assets in the United States.....
Direct investment payments..........................................................
Other private payments
U.S. government payments...........................................................
Compensation of employees.............................................................
Unilateral current transfers, net..............................................................
U.S. government grants..........................................................................
U.S. government pensions and other transfers.....................................
Private remittances and other transfers.................................................
Capital account
Capital account transactions, net...........................................................
Financial account
U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow ( -))............................................................................
U.S. official reserve assets.....................................................................
Gold...................
...............
2011:111
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2011:11
r
2011:111
p
2011:11
r
2011:111
p
2011:11
83,783
83,651
57,358
26,156
137
132
-234,708
-166,378
-119,083
-47,295
-3,157
-7,823
-3,918
-5,649
-5,713
-20,523
-512
-68,330
-68,116
-34,874
-28,093
-5,149
-214
-1,931
-357
-513
-1,061
223,912
144,895
83,924
60,971
565
10,985
3,486
4,171
15,193
26,503
67
79,017
78,881
51,926
26,803
152
136
-223,094
-159,734
-112,176
-47,558
-3,067
-7,627
-3,982
-5,909
-5,841
-20,558
-574
-63,361
-63,168
-29,654
-28,239
-5,275
-193
-2,113
-469
-532
- 1 ,1 1 2
187,690
117,327
70,152
47,175
240
7,677
2,313
3,485
12,238
21,171
51
70,363
70,264
47,213
22,922
129
99
-195,127
-136,558
-96,510
-40,047
-2,897
-6,987
-3,563
-4,526
-4,441
-17,294
-339
-58,570
-58,400
-30,375
-24,934
-3,091
-170
-1,090
-43
-477
-570
185,800
119,279
68,108
51,171
271
10,023
3,153
3,590
12,318
21,764
52
66,522
66,419
42,750
23,530
139
103
-185,646
-132,793
-92,385
-40,409
-2,822
-6,750
-3,708
-4,839
-4,578
-17,345
-367
-52,853
-52,699
-24,574
-25,014
-3,111
-154
-1,052
-25
-496
-531
130,217
80,671
50,490
30,180
128
4,219
1,260
1,882
9,895
12,763
34
49,546
49,498
37,069
12,305
124
48
-135,107
-99,726
-74,576
-25,150
-2,615
-4,921
-2,292
-2,778
-3,120
-9,135
-288
-35,381
-35,292
-18,427
-14,792
-2,073
-89
-1,108
-14
-356
-738
130,060
82,175
49,056
33,118
153
6,064
1,894
1,901
9,991
13,082
34
47,885
47,837
35,148
12,552
137
48
-129,664
-96,593
-71,333
-25,260
-2,551
-4,801
-2,217
-2,893
-3,218
-9,269
-311
-33,071
-32,987
-15,907
-15,064
-2,016
-84
-1,090
-4
0
0
0
-32,672
76,290
-125
-46,767
111,275
-114
225,583
141,800
85,364
56,436
422
8,509
2,554
4,111
15,095
25,679
66
-1 2 1
0
0
-1 1 1
0
0
-114
-475
-177
-263
61
25
-32,374
-82,234
-22,026
-125
-447
-3
62
-505
76,861
-40,360
670
-228
-254
9
17
-46,428
-73,541
-34,022
27
-501
111,864
-37,220
-2,081
194
71,692
-18,621
135,172
167
60,968
-49,039
8,626
n
o
-70
(')
(')
-57,665
26,784
-21,809
-45,179
n.a.
188,454
37,385
( 1)
( 1)
( 1)
-267
( 1)
(')
151,069
44,964
91,075
-52,325
n.a.
-69,415
(2)
(2)
(2)
(2)
(2)
(2)
(2)
18,660
(2)
-46,236
n.a.
24,477
-41,938
662
92,109
-24,290
91,645
n.a.
4-263,448
-33,719
9,141
-24,579
15,453
-1,931
-11,056
-28,252
13,413
-14,839
15,656
-2,113
-1,295
-1 2 1
U.S. government assets, other than official reserve assets..................
U.S. credits and other long-term assets............................................
Repayments on U.S. credits and other long-term assets.................
U.S. foreign currency holdings and U.S. short-term assets..............
U.S. private assets.................................................................................
Direct investment...............................................................................
Foreign securities..............................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns........................................................................................
U.S. claims reported by U.S. banks and securities brokers..............
Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+)).........................................
Foreign official assets in the United States...........................................
U.S. government securities................................................................
U.S. Treasury securities.................................................................
Other.............................................................................................
Other U.S. government liabilities.......................................................
U.S. liabilities reported by U.S. banks and securities brokers...........
Other foreign official assets...............................................................
Other foreign assets in the United States..............................................
Direct investment...............................................................................
U.S. Treasury securities.....................................................................
U.S. securities other than U.S. Treasury securities...........................
U.S. currency.....................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns........................................................................................
U.S. liabilities reported by U.S. banks and securities brokers...........
Financial derivatives, net.........................................................................
Statistical discrepancy (sum of above items with sign reversed)......
Memoranda:
Balance on goods (lines 3 and 20).............................................................
Balance on services (lines 4 and 2 1).........................................................
Balance on goods and services (lines 2 and 19)........................................
Balance on income (lines 12 and 29).........................................................
Unilateral current transfers, net (line 35)....................................................
Balance on current account (lines 1,18, and 35 or lines 74, 75, and 76)
p
0
-1 1 1
r
2011:111
46,239
28,077
14,842
13,235
76
2,674
844
985
1,762
6,882
12
18,162
18,134
8,881
9,248
5
28
-45,163
-25,210
-13,321
-11,889
-268
-1,584
-1,096
-791
-861
-7,258
-31
-19,953
-19,902
-10,026
-9,264
-612
-52
-237
p
44,853
28,696
14,689
14,007
33
3,137
993
1,034
1,750
7,048
13
16,157
16,128
6,514
9,613
1
29
-42,134
-25,054
-13,098
-11,957
-255
-1,435
-1,232
-943
-8 8 8
-7,169
-34
-17,080
-17,033
-7,146
-9,201
-6 8 6
-47
-194
-6
0
0
-363
-720
-78
-159
-78
-116
0
0
0
0
-97,266
119,804
-114
44,898
-14,257
0
0
0
0
-1 1 0
0
-1 1 0
-62
-108
0
-114
-471
-1 1 2
-1 1 1
0
(*)
18
-97,074
-49,213
-13,299
30
-501
120,389
-26,601
9,498
(*)
45,010
-17,276
-17,507
(*)
-14,257
-9,380
-9,290
-18,929
170,094
4,145
-38,707
-8,301
145,793
-7,173
86,966
-17,441
21,854
125,150
(2)
(2)
(2)
(2)
(2)
(2)
(2)
37,174
(2)
-46,274
n.a.
-3,341
(2)
(2)
(2)
(2)
40
(2)
(2)
(2)
16,390
(2)
-14,553
n.a.
54,146
(2)
(2)
(2)
(2)
35
(2)
(2)
(2)
28,634
(2)
-35,703
n.a.
-59,305
(2)
(2)
(2)
(2)
7
(2)
(2)
73,515
(2)
(2)
(2)
(2)
78
(2)
(2)
(2)
4,887
(2)
-7,702
n.a.
25,086
2-66,905
599
124,110
-24,903
2159,147
n.a.
4-235,527
3,617
2-8,835
-867
107,471
344
21,579
2 60,836
2 -57,943
n.a.
4-173,256
1,694
11,874
-25,459
2101,711
n.a.
4-61,782
-26,359
7,128
-19,230
11,794
-1,090
-8,527
-24,276
10,762
-13,515
13,669
-1,052
-898
-24,086
5,031
-19,055
14,165
-1,108
-5,998
-22,277
7,858
-14,418
14,815
-1,090
-693
1,521
1,346
2,867
-1,792
-237
839
1,591
2,051
3,642
-923
-194
2,524
-2 0
-1
6
8
0
0
10,229
(2)
-33,177
n.a.
0
0
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
4. Calculated excluding financial derivatives, net (line 70).
February 2012
S urvey
of
D-67
C u r r e n t B u s in e s s
Table F.3. U.S. International Transactions, by Area—Continues
[M illions of dollars]
Latin America and Other
Western Hemisphere
Canada
Line
(Credits +; debits - )
2 0 1 1 :11 r
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
6/
68
69
70
71
72
73
74
75
76
77
Current account
Exports of goods and services and income receipts..........................
Exports of goods and services...............................................................
Goods, balance of payments basis...................................................
Services.............................................................................................
Transfers under U.S. military agency sales contracts...................
Travel........................
Passenger fares........
Other transportation..
Royalties and license fees
Other private services
U.S. government miscellaneous services.....................................
Income receipts..................
Income receipts on U.S.-owned assets abroad................................
Direct investment receipts............................................................
Other private receipts....................................................................
U.S. government receipts..............................................................
Compensation of employees.............................................................
Imports of goods and services and income payments.......................
Imports of goods and services...............................................................
Goods, balance of payments basis...................................................
Services.............................................................................................
Direct defense expenditures..........................................................
Travel........................
Passenger fares.......
Other transportation...
Royalties and license fees.............................................................
Other private services...................................................................
U.S. government miscellaneous services.....................................
Income payments...................................................................................
Income payments on foreign-owned assets in the United States.....
Direct investment payments..........................................................
Other private payments.................................................................
U.S. government payments...........................................................
Compensation of employees.............................................................
Unilateral current transfers, net..............................................................
U.S. government grants..........................................................................
U.S. government pensions and other transfers.....................................
Private remittances and other transfers................................................
Capital account
Capital account transactions, net..........................................................
Financial account
U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow (-))............................................................................
U.S. official reserve assets.....................................................................
Gold...................................................................................................
2011:111
102,959
87,920
72,958
14,962
67
5,584
1,228
867
2,458
4,749
9
15,039
14,988
9,226
5,762
(*)
51
-95,547
-89,105
-81,784
-7,321
-46
-1,968
-139
-1,257
-279
-3,581
-51
-6,442
-6,290
-2,835
-2,816
-639
-152
-668
p
2 0 1 1 :11 r
2011:111
Mexico
p
2 0 1 1 :11 r
Asia and Pacific
2011:111
2 0 1 1 :11 r
0
0
-181
-487
-179
-564
0
0
-1
0
0
0
0
-41,269
-28,030
157,662
-107,589
-3,047
-8,532
0
0
0
0
0
0
0
0
0
0
0
0
1
0
1
1
0
1
83
-51
-90
50
47
4
(*)
-41,270
-20,184
-7,851
1
51
-98,027
-90,785
-81,923
-8,862
-60
-3,432
-2 0 2
-1,207
-297
-3,608
-57
-7,241
-7,097
-3,574
-2,908
-615
-144
-743
61,467
57,488
51,079
6,409
14
1,621
710
305
693
3,058
2011:111
158,262
119,117
91,145
27,972
150
6,373
2,449
1,420
3,653
13,878
49
39,145
39,103
26,574
12,476
53
42
-152,278
-135,437
-113,806
-21,632
-76
-6,469
-805
-1,329
-629
-12,159
-165
-16,841
-14,253
-438
-10,647
-3,168
-2,588
-6,313
-699
-229
-5,386
102,636
85,789
71,506
14,283
38
4,596
1,442
794
2,416
4,988
9
16,847
16,796
10,827
5,968
59,929
55,305
49,115
6,190
16
1,620
692
262
697
2,896
p
2011:11
-1,918
-191
-217
-142
-783
-53
-3,359
-1,059
-319
-333
-407
-2,300
-3,302
-119
-95
-3,088
106
-262,191
-225,603
-199,329
-26,274
-2,450
-4,470
-2,614
-4,841
-1,829
-9,884
-186
-36,588
-36,180
- 6 ,0 1 1
-6,736
-23,433
-408
-8,228
-3,933
-290
-4,005
-74,893
-71,593
-68,062
-3,532
-2
-2
-2,217
-168
-204
-132
-756
-52
-3,299
-1,047
-337
-322
-388
-2,252
-3,267
-106
-96
-3,065
8
8
4,624
4,616
3,537
1,059
3,979
3,970
2,931
1,039
(*)
8
-74,362
-71,002
-67,697
-3,306
175,619
141,764
102,338
39,426
2,486
8,316
2,322
3,597
8,147
14,453
105
33,854
33,748
22,524
p
182,530
149,019
105,040
43,979
2,529
9,997
2,717
3,644
7,966
17,006
119
33,511
33,404
21,644
11,690
70
106
-282,413
-245,300
-219,090
-26,210
-2,450
-4,312
-2,471
-5,015
-1,835
-9,936
-190
-37,113
-36,783
-6,489
-6,967
-23,327
-330
-8,580
-3,536
-296
-4,748
163,081
125,159
94,950
30,209
145
7,740
2,816
1,424
3,641
14,395
48
37,922
37,880
25,177
12,687
16
42
-152,183
-134,458
-113,065
-21,393
-75
-6,043
-849
-1,354
-671
-12,236
-166
-17,726
-15,128
-1,061
-10,719
-3,348
-2,597
-6,357
-766
-228
-5,363
20
8
Australia
11 ,1 0 2
1 22
r
2011:111
15,952
10,571
6,408
4,163
110
1,087
128
107
769
1,959
3
5,381
5,374
2,716
2,658
p
17,169
11,522
7,201
4,321
56
1,250
135
125
765
1,988
3
5,647
5,641
2,861
2,780
0
0
7
-6,295
-4,115
-2,650
-1,466
-63
-384
-169
-70
-113
-651
-14
-2,180
-2,167
-1,332
-733
7
-6,146
-4,377
-2,833
-1,543
-40
-391
-242
-71
-116
-1 0 2
-13
-170
-6 6 8
-15
-1,769
-1,758
-889
-757
-1 1 2
-1 1
-161
0
0
-27
-143
-29
-132
0
0
0
-51,060
-13
-11,109
-18
-10,589
3,000
0
0
0
0
0
0
-18
-213
125
-127
-10,878
401
17,427
2
0
0
2
-2
0
0
-2
-10,591
-3,785
3,002
3,002
-2,163
3,157
Reserve position in the International Monetary Fund.......................
U.S. government assets, other than official reserve assets..................
U.S. credits and other long-term assets.............
Repayments on U.S. credits and other long-term assets.................
U.S. foreign currency holdings and U.S. short-term assets..............
U.S. private assets............................................................................
Direct investment...............................................................................
Foreign securities..............................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns........................................................................................
U.S. claims reported by U.S. banks and securities brokers..............
Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+)).........................................
Foreign official assets in the United States...........................................
U.S. government securities........
U.S. Treasury securities.........
Other.....................................
Other U.S. government liabilities......................................................
U.S. liabilities reported by U.S. banks and securities brokers...........
Other foreign official assets...............................................................
Other foreign assets in the United States.............................................
Direct investment.......................
U.S. Treasury securities.............
U.S. securities other than U.S. Treasury securities...........................
U.S. currency.............................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns............................... ' .........................'...........................’
U.S. liabilities reported by U.S. banks and securities brokers...........
Financial derivatives, net.........................................................................
Statistical discrepancy (sum of above items with sign reversed)
Memoranda:
Balance on goods (lines 3 and 20).............................................................
Balance on services (lines 4 and 21).........................................................
Balance on goods and services (lines 2 and 19)........................................
Balance on income (lines 12 and 29).........................................................
Unilateral current transfers, net (line 3 5)....................................................
Balance on current account (lines 1,18, and 35 or lines 74, 75, and 76)
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
-107,538
-24,383
-27,042
53
-5
-3,093
-2,272
-1,577
4
-8,536
-2,513
-6,326
-13
-605
-449
143
-299
-50,442
-17,363
9,856
11,721
174,971
36,851
-92,964
-743
1,499
169
134
-2,958
-39,977
1,900
-30,606
-1,179
-8,629
1,286
722
-129
n
n
8,900
1,619
( 1)
12,438
n.a.
10,305
-1,993
(1)
(')
( ’)
70
( 1)
(')
12,298
6,109
( 1)
-96
n.a.
-50,341
16,811
( 1)
(1)
(')
48
( 1)
( 1)
-67,152
14,093
(')
13,878
n.a.
10,360
-948
(1)
(')
( 1)
62
( 1)
n
11,308
-509
( 1)
18,659
n.a.
-2,192
(2)
(2)
(2)
(2)
17
(2)
(2)
(2)
256
(2)
945
n.a.
8,210
(2)
(2)
(2)
(2)
19
(2)
(2)
(2)
263
(2)
1,882
n.a.
55,280
53,706
(')
C)
0
1,672
( 1)
1,574
8,477
( ’)
8,154
n.a.
44,515
-14,606
(’ )
( 1)
( 1)
1,365
n
o
59,121
27,183
n
9,995
n.a.
10,461
(2)
(2)
(2)
(2)
289
(2)
(2)
(2)
-328
(2)
2,851
n.a.
21,396
(2)
(2)
(2)
(2)
227
(2)
(2)
(2)
17,904
(2)
-873
n.a.
(')
7,081
1,275
20,580
( 1)
2,230
n.a.
413,860
( ’)
-87,945
5,643
-112,633
0
-35,497
n.a.
492,688
( 1)
13,962
n.a.
475,056
105
-153
2 7,544
2 4,291
936
-10,295
n.a.
4-35,259
-8,826
7,641
-1,185
8,597
-10,417
5,421
-4,996
9,605
-743
3,866
-22,661
6,340
-16,321
22,304
-6,313
-330
-18,115
8,816
-9,298
20,196
-6,357
4,541
-114,051
17,769
-96,281
-3,602
-8,580
-108,463
3,758
2,697
6,456
3,201
-170
9,487
4,368
2,777
7,145
3,878
-161
10,863
-8 6
(*)
-28,032
-6,233
-17,582
178
-9
157,580
-16,499
-12,613
-1,804
-11,431
-1,623
-2,594
12,669
3,769
n
o
0
-6 6 8
6,745
-1 1
-2
-1
1
0
323
-280
2 -3,733
2 6,326
(3)
23,470
(3)
416,520
( ’)
1,547
-570
91,150
-18,947
2,658
-16,288
1,324
-3,267
-18,231
-16,618
3,104
-13,514
619
-3,302
-16,198
-96,991
13,153
-83,838
-2,733
-8,228
-94,800
-2 1 2
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
4. Calculated excluding financial derivatives, net (line 70).
D-68
International Data
February 2012
Table F.3. U.S. International Transactions, by Area—Table Ends
[Millions of dollars]
China
Line
India
Japan
Middle East
Africa
(Credits +; debits - )
2011:11'
Current account
1 Exports of goods and services and income receipts..........................
2
Exports of goods and services...............................................................
3
Goods, balance of payments basis....................................................
4
Services.............................................................................................
b
Transfers under U.S. military agency sales contracts...................
6
Travel.............................................................................................
/
Passenger fares............................................................................
..............
Other transportation....
B
9
Royalties and license fees.............................................................
10
Other private services..
11
U.S. government miscellaneous services.....................................
12
Income receipts....................
........................................
13
Income receipts on U.S.-owned assets abroad................................
14
Direct investment receipts....................
1b
Other private receipts...........................
16
U.S. government receipts.....................
1/
Compensation of employees.............................................................
18 Imports of goods and services and income payments.......................
19
Imports of goods and services...............................................................
20
Goods, balance of payments basis....................................................
21
Services.............................................................................................
22
Direct defense expenditures..........................................................
23
Travel...............
24
Passenger fares............................................................................
2b
Other transportation......................................................................
26
Royalties and license fees.............................................................
2/
Other private services...................................................................
28
U.S. government miscellaneous services.....................................
29
Income payments...................................................................................
30
Income payments on foreign-owned assets in the United States.....
31
Direct investment payments..........................................................
32
Other private payments
33
U.S. government payments...........................................................
34
Compensation of employees.............................................................
35 Unilateral current transfers, net..............................................................
36
U.S. government grants..........................................................................
3/
U.S. government pensions and other transfers......................................
38
Private remittances and other transfers.................................................
Capital account
39 Capital account transactions, net...........................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow ( - )) ............................................................................
41
U.S. official reserve assets.....................................................................
42
Gold...................................................................................................
43
Special drawing rights........................................................................
44
Reserve position in the International Monetary Fund.......................
45
Foreign currencies.............................................................................
46
U.S. government assets, other than official reserve assets..................
47
U.S. credits and other long-term assets............................................
48
Repayments on U.S. credits and other long-term assets.................
49
U.S. foreign currency holdings and U.S. short-term assets..............
50
U.S. private assets.................................................................................
b1
Direct investment...............................................................................
b2
Foreign securities..............................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns........................................................................................
b4
U.S. claims reported by U.S. banks and securities brokers..............
55 Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+)).........................................
56
Foreign official assets in the United States............................................
57
U.S. government securities................................................................
58
U.S. Treasury securities.................................................................
b9
Other...............
60
Other U.S. government liabilities.......................................................
61
U.S. liabilities reported by U.S. banks and securities brokers...........
62
Other foreign official assets...............................................................
63
Other foreign assets in the United States..............................................
64
Direct investment...............................................................................
6b
U.S. Treasury securities.....................................................................
66
U.S. securities other than U.S. Treasury securities...........................
6/
U.S. currency.....................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns........................................................................................
69
U.S. liabilities reported by U.S. banks and securities brokers...........
7 0 Financial derivatives, net.........................................................................
71 Statistical discrepancy (sum of above items with sign reversed)......
Memoranda:
12 Balance on goods (lines 3 and 20)....................................
/3 Balance on services (lines 4 and 2 1 ) ..................................
/4 Balance on goods and services (lines 2 and 19) .......................................
/b Balance on income (lines 12 and 2 9 ) ..................................
/6 Unilateral current transfers, net (line 3 5 ) ...............................
/ / Balance on current account (lines 1,18, and 35 or lines 74,75, and 76)
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2011:111 p
2011:11 r
2011:111 <>
2011:11r
2011:111 p
2011:11r
2011:111 p
2011:11 r
2011:111 p
32,794
35,459
10,566
10,105
33,857
35,202
24,821
25,608
14,966
14,896
29,034
32,072
9,037
8,720
27,603
28,749
20,198
20,967
12,006
12,035
23,846
25,308
6,048
5,442
16,664
16,596
14,661
14,731
8,813
8,548
5,188
6,763
(*)
(*)
2,989
31
3,278
4
10,939
78
12,152
106
5,538
1,149
6,236
1,119
3,194
186
3,488
130
1,027
319
619
1,630
524
639
1,185
499
91
978
417
85
2,580
1,172
948
3,423
1,440
929
825
137
580
1,289
203
539
452
158
126
544
189
130
947
2,270
6
943
3,021
6
163
1,007
12
161
1,622
12
2,536
3,587
38
2,487
3,723
45
243
2,586
18
240
2,825
22
276
1,978
19
275
2,199
20
3,760
3,744
3,079
662
4
16
3,387
3,371
2,674
687
10
16
1,530
1,525
959
565
2
5
1,384
1,380
762
613
5
5
6,254
6,235
2,916
3,306
13
20
6,453
6,434
2,824
3,592
18
20
4,622
4,577
3,989
558
30
45
4,640
4,595
4,014
548
33
45
2,960
2,938
2,343
531
64
22
2,860
2,839
2,235
546
58
22
-111,714
-123,696
-14,430
-14,305
-48,243
-56,371
-34,179
-36,693
-27,475
-27,403
-100,020
-112,098
-14,066
-13,975
-33,716
-40,698
-31,980
-34,406
-26,978
-26,800
-97,044
-109,267
-10,063
-9,646
-27,284
-34,263
-27,417
-30,073
-24,895
-24,520
-2,975
-3
-2,831
-3
-4,003
-12
-4,330
-3
-6,431
-567
-6,435
-561
-4,563
-1,706
-4,333
-1,605
-2,083
-110
-2,280
-107
-784
-174
-777
-617
-1 4 8
-8 0 7
-352
-45
-39
-629
-48
-60
-919
-407
-1,520
-953
-365
-1,546
-862
-588
-413
-763
-562
-408
-814
-172
-145
-989
-162
-157
- 44
-1,175
- 17
-48
-1,190
-18
-63
-3,486
-6
-67
-3,517
-6
-1,542
-1,448
-28
-1,535
-1,448
-26
-49
-871
-73
-53
-861
-80
-11
-761
-70
-11
-783
-70
-11,694
-11,562
-169
-934
-10,459
-1 3 2
-11,598
-11,485
-199
-985
-10,301
-1 1 3
-365
-293
-100
-41
-152
-72
-329
-2 7 6
-90
-39
-147
-54
-14,528
-14,498
-3,811
-2,915
-7,772
-30
-15,673
-15,646
-4,787
-3,007
-7,852
-26
-2,198
-2,164
5
-1,265
-904
-35
-2,286
-2,259
- 64
-1,309
-886
-28
-497
-427
-126
-98
-203
-71
-603
-543
-245
-99
-199
-6 0
-739
-880
-1,121
-1,325
-281
-231
-4,014
-2,213
-5,461
-4,457
-7
-3
-729
-6
-3
-871
-36
-7
-1,078
-28
-7
-1,290
-30
-81
-170
-24
-82
-125
-3,077
-36
-901
-1,222
-36
-955
-3,387
-10
-2,064
-2,291
-9
-2,157
0
0
0
0
0
0
0
0
-823
-1,445
6,214
-5,114
-3,392
-14,644
-5,197
3,724
-760
-2,402
-748
0
0
0
0
0
0
0
0
-13
0
-18
0
0
0
0
0
0
0
0
0
-13
-18
(*)
0
22
-22
55
0
35
20
-17
- 19
7
-4
12
0
13
-1
-3
0
0
-3
-4
0
0
-4
8
-62
66
4
-336
-370
35
-1
730
-57
787
0
34
-104
133
6
-1,445
-1,814
1,628
6,159
6,234
-3,648
-5,098
-1,012
-1,384
-3,405
-478
-79
-14,628
-2,036
4,358
-5,175
-1,323
7,307
3,716
-1,400
2,788
-424
-1,080
601
-3,132
-1,674
-71
-783
-2,179
-2,161
-359
-900
311
3,262
-442
-2,260
-385
-2,463
-510
-16,440
680
-11,839
21
2,307
258
-203
-122
-1,265
179
3,378
21,141
-34,641
-2,761
(2)
(2)
(2)
(2)
82,986
(2)
(2)
(2)
(2)
14,802
6,739
3,658
-7,662
(2)
(2)
(2)
(2)
-4,125
(2)
(2)
(2)
(2)
-3,016
(2)
(2)
(2)
(2)
11,089
11,603
1,140
-7,066
(')
(’)
( 1)
-17
637
(1)
( 1)
( 1)
0
V)
( 1)
1,116
-71
( ’)
(1)
0
(2)
(2)
(2)
(')
n
0
0
-4,864
228
( 1)
C)
n
(1)
2,518
1,790
-596
99
0
0
(2)
(2)
(2)
(2)
(2)
(2)
135
(2)
75
(2)
47
(2)
(2)
(2)
138
156
(2)
(2)
(2)
189
(2)
(2)
(2)
(2)
0
(2)
(2)
(2)
6,316
7,595
3,713
1,435
23
-2,751
1,090
(2)
(2)
-168
-99
4,510
14,963
892
1,138
( 1)
( 1)
13
n.a.
n.a.
n.a.
n.a.
n.a.
0
-3 4 5
n.a.
n.a.
n.a.
n.a.
n.a.
-194
2 23,951
1,424
2-37,230
-46
2-4,096
-27
2-2,980
-390
2-13,452
398
2 60,047
(')
2,255
0
-1,754
489
V)
0
-97
( 3)
59,963
(3)
4117,545
(3)
14,225
(3)
411,679
-1,810
34,137
n.a.
4-56,389
(3)
-5,154
(3)
47,320
666
16,873
n.a.
425,374
-73,199
2,213
-70,986
-7,934
-739
-79,659
-83,959
3,933
-80,026
-8,211
-880
-89,118
-4,015
-1,014
-5,029
1,165
-1,121
-4,985
-4,203
-1,052
-5,255
1,055
-1,325
-5,525
-10,621
4,508
-6,113
-8,274
-281
-14,668
-17,667
5,718
-11,949
-9,219
-231
-21,400
-12,757
975
-11,782
2,424
-4,014
-13,372
-15,342
1,903
-13,439
2,354
-2,213
-13,298
-16,082
1,111
-14,971
2,462
-5,461
-17,970
-15,973
1,208
-14,765
2,257
-4,457
-16,964
(2)
(2)
( 1)
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
4. Calculated excluding financial derivatives, net (line 70).
February 2012
S urvey
of
D-69
C u r r e n t B u s in e s s
Table F.4. Private Services Transactions
[M illions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2010
2010
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
II
III
IV
I
II r
Exports of private services......................................................................... 530,274 124,574 127,834 139,578 138,287 138,468 143,407
30,268 25,272 23,676
30,059
Travel (table F.2, line 6 )............................................................................... 103,505 21,976 25,989
8,871
7,841
7,887
8,848
Passenger fares (table F.2, line 7).
6,740
7,478
30,931
10,131
10,244
10,272
10,712
Other transportation (table F.2, line 8 )........................................................
39,936
9,473
10,089
Freight....................................................................................................
5,024
4,929
5,079
5,030
5,425
19,768
4,736
5,202
5,164
5,242
5,287
Port services............................
20,168
4,736
5,065
Royalties and license fees (table F.2, line 9 )............................................. 105,583 24,924 26,305 26,046 28,308 27,306 29,875
By type: 1
10,543
8,321
9,280
9,002
9,215
9,569
Industrial processes 2 .......................................................................
35,818
19,332
17,044
19,093
17,737
O ther 3 ..............................................................................................
69,765
16,602
17,025
By affiliation:
16,042
15,898
17,008
18,403
U.S. parents’ receipts from their foreign affiliates.............................
63,068
14,629
15,533
1,007
946
U.S. affiliates' receipts from their foreign parent groups...................
3,327
746
810
865
905
10,257
9,962
9,283
10,395
10,526
U.S. receipts from unaffiliated foreigners..........................................
39,188
9,548
63,913
Other private services (table F.2, line 10).................................................. 250,320 61,462 57,974 64,262 66,622 69,327
By type: 1
2,747
3,952
Education....
21,291
8,757
2,570
6,013
9,381
18,252
17,627
17,944
Financial services
66,387
15,699
16,785
15,651
3,487
3,729
3,968
3,853
3,703
Insurance services............................................................................
14,605
3,420
2,664
2,818
2,934
3,005
3,095
Telecommunications..........................................................................
11,095
2,680
32,242 34,831
32,778
33,670
Business, professional, ana technical services................................ 126,296 28,355 30,868
2,754
2,683
2,600
2,685
2,675
2 ,6 8 6
Other services 4 ................................................................................
10,646
By affiliation:
15,129
52,129
12,579
13,317
14,587
14,118
U.S. parents' receipts from their foreign affiliates.............................
11,646
U.S. affiliates’ receipts from their foreign parent groups...................
6,802
6,936
8,094
7,300
7,593
28,622
6,789
47,908 41,192
U.S. receipts from unaffiliated foreigners.......................................... 169,569 43,027
38,593 44,009 43,941
Imports of private services.......................................................................... 368,036 85,182 93,800 97,193 91,860 90,510 100,618
16,569 22,406
75,507
16,448 20,658 21,823
16,578
Travel (table F.2, line 23).............................................................................
6,797
7,204
27,279
7,260
7,277
8,236
Passenger fares (table F.2, line 24)............................................................
5,945
11,172
14,134
13,018
12,978
13,670
Other transportation (table F.2, line 25).....................................................
51,202
12,878
10,092
Freight......................................
9,527
9,678
8,044
10,639
9,705
37,915
3,578
3,352
3,495
3,313
3,300
Port sen/ices............................
13,288
3,128
8,894
8,522
7,960
8,614
Royalties and license fees (table F.2, line 2 6)...........................................
33,450
9,000
7,876
By type : 1
5,157
5,167
19,672
4,737
4,875
5,091
Industrial processes 2 .......................................................................
4,969
3,737
3,354
3,522
O ther 3 ..............................................................................................
13,778
4,031
3,139
3,085
By affiliation:
1,527
1,491
1,665
U.S. parents’ payments to their foreign affiliates..............................
5,322
1,167
1,243
1,385
4,421
4,485
4,452
4,749
5,010
U.S. affiliates’ payments to their foreign parent groups....................
18,048
4,363
2,394
2,224
2,264
2,338
2,435
U.S. payments to unaffiliated foreigners............................................
10,080
3,253
47,785
Other private services (table F.2, line 27).................................................. 180,598 42,617 45,128 45,999 46,853 44,865
By type: 1
1,125
1,515
Education..........................................................................................
5,677
1,443
1,250
1,073
1,911
3,974
3,297
3,387
3,291
3,828
4,060
Financial services....
13,803
15,113
13,796
14,185
Insurance services..
61,767
14,870
15,718
16,066
2,049
2,007
1,943
1,922
1,920
Telecommunications
8,006
2,031
25,987
Business, professional, and technical sen/ices................................
90,585 21,157 22,470 22,492 24,465 23,741
199
201
189
190
190
191
Other services 4 ................................................................................
759
By affiliation:
13,577
11,171
12,196
11,840
U.S. parents’ payments to their foreign affiliates..............................
44,624
10,406
10,851
6,337
6,233
U.S. affiliates’ payments to their foreign parent groups....................
5,572
5,653
6,143
6,159
23,705
U.S. payments to unaffiliated foreigners............................................ 112,269 26,638 28,304 29,006 28,320 26,866 27,974
Supplemental detail on insurance transactions:
6 ,2 2 2
24,774
6,369
6,885
6,568
Premiums received 5......................................................................................
5,701
5,819
4,209
4,221
4,160
Actual losses paid..........................................................................................
16,718
4,596
3,831
4,081
Premiums paid 5 ............................................................................................
25,204 25,882 23,927 21,442 22,428
98,668 23,656
12,674
12,918
13,113
12,673
12,610
12,691
Actual losses recovered.................................................................................
50,648
Memoranda:
Balance on goods (table F.2, line 72)............................................................. -645,857 -133,818 -164,817 -186,377 -160,845 -159,480 -191,036
Balance on private services (line 1 minus line 23)........................................ 162,238 39,392 34,034 42,385 46,427 47,958 42,789
Balance on goods and private services (lines 49 and 50)............................. -483,618 -94,426 -130,783 -143,991 -114,418 -111,522 -148,248
p Preliminary
r Revised
1. Royalties and license fees and “other private services” by detailed type of service include both affiliated and unaffil
iated transactions.
2. Includes royalties, license fees, and other fees associated with intangible assets, including patents, trade secrets,
and other proprietary rights, that are used in connection with the production of goods.
2011
2010
2011
II
III
IV
154,963 127,248
25,212
35,151
7,135
10,853
10,719
9,719
5,359
4,870
5,360
4,848
29,734 25,615
130,443
25,395
7,725
9,998
4,978
5,020
26,227
134,902
26,203
8,076
10,098
4,920
5,178
26,720
137,681
26,695
7,994
10,769
18,966
8,321
17,293
9,280
16,948
9,002
17,718
9,215
17,806
9,569
18,443
10,543
19,279
10,769
19,702
18,808
955
9,972
68,505
14,997
746
9,871
59,568
15,606
810
9,811
61,097
15,900
865
9,955
63,805
16,565
905
9,551
65,851
16,431
1,007
10,574
67,329
18,504
946
10,372
67,306
18,797
955
10,719
67,985
6,471
17,724
3,755
3,141
34,647
2,768
5,186
15,651
3,420
2,680
30,032
2,600
5,275
15,699
3,487
2,664
31,287
2,685
5,373
16,785
3,729
2,818
32,425
2,675
5,458
18,252
3,968
2,934
32,553
5,549
17,627
3,853
3,005
34,613
2,683
5,649
17,944
3,703
3,095
34,161
2,754
5,763
17,724
3,755
3,141
34,835
2,768
15,292
7,542
45,671
102,203
23,166
8,228
14,101
10,364
3,737
8,720
11,974
7,049
40,545
89,932
19,085
6,228
11,919
8,653
3,266
8,998
12,705
6,893
41,499
91,039
18,291
6,770
13,018
9,577
3,441
7,916
13,584
7,303
42,918
94,141
19,077
7,022
13,600
10,197
3,403
8,177
13,865
7,377
44,609
92,923
19,054
7,259
9,488
3,178
8,359
14,434
7,534
45,360
95,112
19,280
7,552
13,451
9,936
3,515
8,879
15,286
7,731
44,288
97,828
19,850
7,701
13,949
10,272
3,676
8,587
15,659
7,897
44,429
99,082
20,153
7,954
13,718
10,084
3,634
8,943
5,361
3,359
4,993
4,005
4,702
3,213
4,986
3,191
4,991
3,368
5,186
3,693
5,153
3,434
5,472
3,470
1,782
4,318
2,620
47,988
1,385
4,424
3,189
43,702
1,167
4,493
2,255
45,045
1,243
4,669
2,265
46,265
1,527
4,462
2,370
45,585
1,491
5,059
2,329
45,949
1,665
4,453
2,469
47,741
1,782
4,539
2,621
48,314
2 ,0 1 0
1,414
3,387
15,718
1,920
22,416
190
1,429
3,291
16,066
2,049
23,240
190
1,440
3,828
15,113
2,007
23,006
191
1,462
4,060
13,796
1,943
24,489
199
1,485
3,974
14,185
1,922
25,974
1,503
3,897
14,157
1,948
26,607
202
1,394
3,297
14,870
2,031
21,922
189
201
202
13,287
6,242
28,458
10,944
5,690
27,068
10,943
5,762
28,339
11,304
6,324
28,637
11,433
5,929
28,224
12,347
6,282
27,320
13,362
6,370
28,009
13,816
6,423
28,076
6,304
4,063
22,760
13,417
5,701
4,596
23,656
12,673
5,819
3,831
25,204
12,674
6,369
4,081
25,882
12,610
6,885
4,209
23,927
12,691
6,568
4,221
21,442
12,918
6 ,2 2 2
6,304
4,063
22,760
13,417
III
p
3,897
14,157
1,948
25,773
I
10,121
5,000
5,121
27,021
2 ,6 8 6
1 2 ,6 6 6
I
II '
III
141,467 146,049
27,301
29,164
8,362
9,122
10,464
10,636
5,168
5,368
5,296
5,268
28,012 29,822
4,160
22,428
13,113
p
148,910
29,873
9,859
10,722
5,360
5,362
30,470
-202,149 -152,832 -165,958 -167,822 -159,245 -182,222 -190,564 -181,750
44,758 46,356 48,221
49,828
52,760
37,316
39,403 40,760
-149,389 -115,516 -126,555 -127,061 -114,486 -135,866 -142,343 -131,922
3. Includes royalties, license fees, and other fees associated with copyrights, trademarks, franchises, rights to broad
cast live events, software licensing fees, and other intellectual property rights.
4. Other services receipts (exports) include mainly film and television tape rentals and expenditures of foreign resi
dents temporarily working in the United States. Payments (imports) include mainly expenditures of U.S. residents tempo
rarily working abroad and film and television tape rentals.
5. These reflect the amount of premiums explicitly charged by, or paid to, insurers and reinsurers.
D-70
February 2012
G. Investm ent Tables
Table G.1. International Investment Position of the United States at Yearend, 2009 and 2010
[Millions of dollars]
Changes in position in 2010
Attributable to:
Line
Type of investment
Position, 2009'
Valuation adjustments
Financial flows
(a)
Price changes
(b)
Exchange-rate
changes 1
(c)
Net international investment position of the United States (lines 2+3)............................
Financial derivatives, net (line 5 less line 2 5 ) 3.......................................................................
Net international investment position, excluding financial derivatives (line 6 less line 26).
-2,396,426
134,749
-2,531,175
-254,289
-13,735
-240,554
81.479
(4)
81.479
-39,633
(4)
-39,633
U.S.-owned assets abroad (lines 5 +6)..................................................................................
Financial derivatives (gross positive fair value)...................................................................
U.S.-owned assets abroad, excluding financial derivatives (lines 7+12+17)...................
18,487,042
3,500,786
14,986,256
(3)
(3)
1,005,182
(3)
(3)
621,838
(3)
(3)
-51,673
U.S. official reserve assets.....................................................................................................
Gold...............................
Special drawing rights.
Reserve position in the International Monetary Fund....................................................
Foreign currencies.......
403,804
284,380
57,814
11,385
50,225
1,834
U.S. government assets, other than official reserve assets...............................................
U.S. credits and other long-term assets 7 ........................................................................
Repayable in dollars..................................................................................................
O th e r 8 ........................................................................................................................
U.S. foreign currency holdings and U.S. short-term assets 9 ........................................
82,774
71,830
71,557
273
10,944
-7,540
2.568
2.568
U.S. private assets..................................................................................................................
Direct investment at current cost.......................................................................................
Foreign securities................................................................................................................
Bonds................................................................................................................................
Corporate stocks.............................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns............
U.S. claims reported by U.S. banks and securities brokers, not included elsewhere..
14,499,678
4,067,501
5,565,636
1,570,341
3,995,295
861,914
4,004,627
1,010,888
Foreign-owned assets in the United States (lines 25+26)....................................................
Financial derivatives (gross negative fair value).......................................................................
Foreign-owned assets in the Unites States, excluding financial derivatives (lines 27+34)..
20,883,468
3,366,037
17,517,431
(3)
(3)
1,245,736
Foreign official assets in the United States...............................................................................
U.S. government securities.....................................................................................................
U.S. Treasury securities......................................................................................................
O ther......................................................................................................................................
Other U.S. government liabilities 10 ........................................................................................
U.S. liabilities reported by U.S. banks and securities brokers, not included elsewhere..
Other foreign official assets.....................................................................................................
4,402,762
3,588,574
2,879,611
708,963
99,095
187,482
527,611
Other foreign assets....................................................................................................................
Direct investment at current cost..............
......
U.S. Treasury securities............................
......
U.S. securities other than U.S. Treasury securities............................................................
Corporate and other bonds...................
Corporate stocks....................................
U.S. currency...............................................
......
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns............
U.S. liabilities reported by U.S. banks and securities brokers, not included elsewhere.
Memoranda:
Direct investment abroad at market value.........................................................................................
Direct investment in the United States at market value...................................................................
5
83,157
83,157
31
1,293
510
-1 2 2
-
1,021
-186
1,085
0
Other changes:
(d)
4
137,880
-10,593
148,473
-74,563
-24,328
-50,235
-2,470,989
110,421
-2,581,410
<3)
(3)
100,847
1,828,317
152,123
1,676,194
20,315,359
3,652,909
16,662,450
0
60
0
0
0
84.869
83,157
-990
1,107
1,595
488,673
367,537
56,824
12,492
51,820
1
1
1
-7,539
2.569
2.569
-10,108
75,235
74,399
74,126
273
836
16,098,542
4,429,426
6,222,864
1,737,271
4.485.593
873,667
4,572,585
0
C)
C)
-10,108
-51,551
6,163
-43,079
-3,942
-39,137
-9,551
-5,084
100,846
14,122
28,725
57,999
1,598,864
361,925
657,228
166,930
490,298
11,753
567,958
(3)
(3)
540,359
(3)
(3)
-12,040
(3)
(3)
-47,626
1,902,880
176,451
1,726,429
22,786,348
3,542,488
19,243,860
349,754
316,980
397,797
-80,817
12,124
-9,375
30,025
112,083
51,650
43,286
8,364
-976
0
0
0
0
0
0
0
460,861
368,630
441,083
-72,453
11,148
-9,375
90,458
4,863,623
3,957,204
3,320,694
636,510
110,243
178,107
618,069
13,114,669
2,441,705
791,765
5,319,867
2,825,591
2,494,276
313,771
707,401
3,540,160
895,982
236,226
256,428
120,453
-22,691
143,144
28,319
77,456
177,100
428,276
-16,187
16,401
428,062
73,849
354,213
-47,626
-2,847
- 10,000
1,265,568
217,227
272,829
540,226
42.869
497,357
28,319
40,394
166,573
14,380,237
2,658,932
1.064.594
5,860,093
2,868,460
2,991,633
342,090
747,795
3,706,733
4,330,914
3,026,781
351,350
236,226
144,877
200,654
2,658
-12,256
512,411
424,624
4,843,325
3,451,405
p Preliminary
r Revised
* Less than $500,000 (+/-)
....Not applicable
1. Represents gains or losses on foreign-currency-denominated assets and liabilities due to their revaluation at current
exchange rates.
2. Includes changes due to year-to-year shifts in the composition of reporting panels, primarily for bank and nonbank
estimates, and to the incorporation of more comprehensive survey results. Also includes capital gains and losses of direct
investment affiliates and changes in positions that cannot be allocated to financial flows, price changes, or exchange-rate
changes.
3. Financial flows and valuation adjustments for financial derivatives are available only on a net basis, which is shown
on line 2 ; they are not separately available for gross positive fair values and gross negative fair values of financial deriva
tives. Consequently, columns (a) through (d) on lines 4,5,24, and 25 are not available.
4. Data are not separately available for the three types of valuation adjustments; therefore, the sum of all three types is
shown in column (d).
0
351,350
151,916
72,785
79,131
-7,421
515,043
538,681
-9,710
548,391
98,087
450,304
Position, 2 0 1 0 (
Total
(a+b+c+d)
-976
60,433
-11,064
35
-8,289
-8,289
-2,283
-527
13,526
0
0
0
0
0
0
0
0
-34,779
5. Reflects changes in the value of the official gold stock due to fluctuations in the market price of gold.
6 . Reflects changes in gold stock from U.S. Treasury sales of gold medallions and commemorative and bullion coins;
also reflects replenishment through open market purchases. These demonetizations/monetizations are not included in
international transactions financial flows.
7. Also includes paid-in capital subscriptions to international financial institutions and outstanding amounts of miscella
neous claims that have been settled through international agreements to be payable to the U.S. government over periods
in excess of 1 year. Excludes World War I debts that are not being sen/iced.
8 . Includes indebtedness that the borrower may contractually, or at its option, repay with its currency, with a third
country’s currency, or by delivery of materials or transfer of services.
9. Includes foreign-currency-denominated assets obtained through temporary reciprocal currency arrangements
between the Federal Reserve System and foreign central banks. These assets are included in the investment position at
the dollar value established at the time they were received, reflecting the valuation of these assets in the Federal Reserve
System’s balance sheet. The movement of exchange rates does not affect this valuation.
10. Includes U.S. government liabilities associated with military sales contracts and U.S. government reserve-related
liabilities from allocations of special drawing rights (SDRs).
February 2012
S urvey
of
D-71
C u r r e n t B u s in e s s
Table G.2. U.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 2007-2010
[Millions of dollars]
Direct investment position
on a historical-cost basis
2007
All countries, all industries...............................................
By country of foreign affiliate
Canada.............................................................................................
Europe..............................................................................................
O f which:
France.....................................................................................
Germany..................................................................................
Ireland......................................................................................
Netherlands.............................................................................
Switzerland..............................................................................
United Kingdom......................................................................
Latin America and Other Western Hemisphere..........................
Of which:
Bermuda..................................................................................
B razil........................................................................................
M exico.....................................................................................
United Kingdom Islands, Caribbean....................................
A frica.................................................................................................
Middle East.......................................................................................
Asia and Pacific...............................................................................
Of which:
Australia...................................................................................
Hong Kong...............................................................................
Japan........................................................................................
Singapore................................................................................
By industry of foreign affiliate
Mining...............................................................................................
Manufacturing..................................................................................
Food.............................................................................................
Chemicals....................................................................................
Primary and fabricated metals...................................................
Machinery....................................................................................
Computers and electronic products..........................................
Electrical equipment, appliances, and components..............
Transportation equipment..........................................................
Other manufacturing...................................................................
Wholesale trade...............................................................................
Information........................................................................................
Depository institutions (banking)..................................................
Finance (except depository institutions) and insurance.............
Professional, scientific, and technical services...........................
Holding companies (nonbank).......................................................
Other industries...............................................................................
2008
2009
ncome without current-cost
adjustment
2007
2008
2009
2010
2007
2008
2009
2010
2,993,980
3,232,493
3,547,038
3,908,231
393,518
308,296
282,686
328,905
350,237
392,954
335,283
409,555
250,642
1,682,023
246,483
1,844,182
266,577
2,005,931
296,691
2,185,898
22,331
239,803
12,293
178,415
12,038
162,971
27,085
175,260
21,170
175,702
31,419
196,977
16,772
178,380
29,586
198,567
74,179
100,601
117,708
412,122
94,675
426,357
556,160
84,409
107,833
150,131
423,059
133,222
448,412
588,992
89,249
110,958
160,232
481,140
149,772
458,536
676,183
92,820
105,828
190,478
521,427
143,627
508,369
724,405
1 2 ,0 1 0
9,569
15,506
109,097
7,365
21,978
55,324
-341
775
31,795
38,639
25,168
29,615
63,213
1,052
10,991
29,495
53,371
14,815
23,930
69,899
2,416
3,212
29,212
39,647
3,100
49,989
51,923
5,494
9,356
21,994
44,255
14,543
21,412
72,600
5,774
7,718
30,327
48,312
19,621
24,456
82,092
4,918
29,090
50,754
19,183
26,605
75,497
2,586
6,724
32,150
54,418
21,264
26,359
89,883
211,708
48,807
91,046
105,829
32,607
28,448
444,101
207,547
43,953
87,443
134,298
36,746
31,294
484,796
254,541
55,176
89,419
139,880
43,575
36,257
518,516
264,442
14,785
5,585
9,798
12,640
4,490
4,070
67,500
7,824
3,825
4,521
25,914
3,837
3,716
46,821
31,587
2,834
8,582
7,757
8,652
4,742
24,384
19,634
9,099
90,304
149,039
53,522
36,573
611,143
5,152
8,314
-63
66,386
23,176
7,617
11,634
10,431
6,726
7,692
66,347
25,033
9,251
10,239
13,289
8,133
8,817
65,517
26,230
7,226
7,382
15,115
5,183
4,933
54,518
29,474
9,875
9,894
17,021
7,305
9,168
75,046
84,331
40,720
85,224
93,529
92,668
40,042
99,803
83,169
109,827
49,152
96,015
88,925
133,990
54,035
113,263
106,042
1 0 ,1 2 2
11,533
15,721
14,003
10,158
-325
-1,656
8,572
6,557
6,955
6,565
4,627
19,139
-404
6,485
13,736
7,840
7,681
7,862
19,045
8,588
5,659
7,491
17,195
4,881
5,322
10,559
10,174
9,919
5,900
11,030
16,722
141,299
484,839
40,588
95,915
22,244
31,257
69,467
19,979
60,612
144,777
150,089
116,923
123,202
649,773
81,344
1,039,045
207,466
147,496
474,733
40,317
110,311
18,207
36,110
67,859
21,819
44,541
135,569
169,970
130,985
128,301
686,551
77,393
1,198,220
218,845
163,467
526,705
44,780
121,900
21,218
39,755
68,720
22,482
48,567
159,282
181,186
144,562
121,340
761,279
76,118
1,351,158
221,223
175,532
585,789
46,441
140,884
22,129
43,881
81,968
23,635
50,332
176,520
193,531
161,723
133,602
802,960
84,658
1,538,617
231,820
19,857
71,977
11,045
11,452
3,440
5,630
6,583
4,425
11,532
17,871
12,874
8,562
10,785
82,169
12,094
153,562
21,637
25,572
35,866
3,845
15,709
3,238
6,712
4,264
3,042
-11,623
10,679
31,718
7,946
4,408
58,478
9,444
118,621
16,242
17,784
47,126
3,166
16,487
429
3,377
-1,350
821
4,873
19,323
15,532
11,680
-16,399
49,691
4,030
140,858
12,384
12,637
61,149
4,669
19,500
1,300
3,762
11,175
2,087
1,033
17,622
17,064
13,137
2,194
13,506
7,441
184,277
17,501
32,315
66,435
4,525
14,154
2,405
5,735
12,253
1,870
5,733
19,762
28,527
11,144
-7,927
42,802
8,953
146,576
21,411
39,822
60,144
3,603
14,475
1,967
5,057
11,565
2,009
1,326
20,142
28,773
14,400
1,013
43,618
6,865
179,733
18,587
24,953
42,115
2,907
13,668
947
2,450
7,008
1,558
-1,114
14,691
21,440
14,647
2,350
41,465
6,495
166,191
15,628
29,675
63,246
3,558
15,904
1,553
4,322
10,833
1,696
6,638
18,743
25,828
17,409
5,933
40,241
7,442
198,633
21,146
N ote . The data in this table are from tables 14 and 15 in "U.S. Direct Investment Abroad Tables” in the
September 2011 S urvey of C urrent B u siness .
Financial outflows without current-cost
adjustment (inflows (-))
2010
6 6 ,0 2 1
1 ,8 8 8
1 ,2 1 1
D-72
International Data
February 2012
Table G.3. Selected Financial and Operating Statistics of Foreign Affiliates of U.S. Companies by Country and by Industry of Affiliate, 2009
All foreign affiliates
Majority-owned foreign affiliates
Millions of dollars
Total
assets
All countries, all industries............................................... 22,087,177
Sales
5,718,931
Net
income
Millions of dollars
Thousands
U.S.
U.S.
of
exports of imports of
employees
goods
goods
shipped to shipped by
affiliates
affiliates
Total
assets
Sales
900,474
237,932
266,973
12,961.5 18,760,410
4,857,010
(D)
76,534
1,171,577
498,620
4,774.9 10,937,785
2,506,749
Net
income
808,038
Value
added
Thousands
U.S.
U.S.
of
exports of imports of
employees
goods
goods
shipped to shipped by
affiliates
affiliates
1,139,594
227,497
252,000
10,801.4
41,823
111,106
65,635
77,965
1,077.5
479,823
591,826
68,508
75,954
4,173.9
By country of affiliate
1,222,729
522,468
43,365
68,052
Europe.......................................................................................... 12,034,933
Of which:
France .................................................................................
400,751
Germany.............................................................................. 1,002,826
Netherlands........................................................................
1,633,444
United Kingdom.................................................................. 4,617,394
2,897,824
523,512
71,886
210,780
394,296
249,599
664,142
8,527
13,014
133,851
71,945
3,679,143
674,231
234,453
390,156
154,674
211,088
A frica............................................................................................
257,305
Middle East..................................................................................
203,620
Asia and Pacific..........................................................................
Of which:
Australia...............................................................................
China...................................................................................
India.....................................................................................
Japan...................................................................................
Canada.........................................................................................
1,094.3
(D)
(D)
9,703
(D)
(D)
6,635
4,868
10,472
566.8
677.5
239.2
1,336.6
381,730
702,559
1,485,376
4,343,085
201,029
321,916
203,562
602,474
8,340
12,389
117,750
66,920
51,102
87,612
25,048
153,298
4,528
9,701
11,544
13,143
6,188
6,625
4,864
10,445
539.3
628.2
225.9
1,194.6
167,515
41,985
48,018
2,518.5
3,439,421
576,989
156,144
125,584
39,771
45,180
2,106.8
17,075
8,533
5,325
27,666
(D)
546.4
1,185.6
213,227
299,165
143,484
168,092
15,468
5,243
38,374
25,285
5,212
25,887
2,494
32,600
522.9
965.0
103,925
24,695
1,834
230,932
84,898
22,104
46,056
1,725
3,698
170.2
17,611
649
(D)
(D)
227.6
106,739
127.1
121,653
50,526
6 ,0 0 1
17,215
593
2,227
1 0 0 .0
4,689,447
1,413,743
123,775
53,525
51,382
4,219.1
2,859,042
1,139,227
102,143
247,807
51,265
46,976
3,173.0
466,932
165,153
243,772
51,092
300,429
14,495
28,742
2,824
10,878
(D)
(D)
2,484
7,272
1,472
13,159
5,004
344.0
1,433.2
600.6
611.6
439,181
188,768
82,932
960,218
139,805
147,565
41,814
219,679
13,980
98,260
1,155,371
3,101
11,257
44,901
30,861
13,997
53,054
5,246
5,540
1,308
12,731
2,475
6,890
588
1,469
296.9
943.8
490.7
322.7
Mining...........................................................................................
809,527
377,155
67,987
260,887
52,616
161,180
1,588
17,532
201.4
71,706
3,706
(D)
(D)
649,927
87,332
(D)
(D)
M
Utilities..........................................................................................
40.9
64,868
35,863
2,625
7,558
(D)
(D)
31.7
Manufacturing..............................................................................
O f which:
Food....................................................................................
Chemicals............................................................................
Primary and fabricated m etals........................................
Machinery............................................................................
Computers and electronic products.................................
Electrical equipment, appliances, and components.....
Transportation equipment.................................................
2,423,985
2,389,716
126,352
143,216
194,262
5,435.1
2,048,351
2,039,525
102,042
474,475
135,701
179,598
4,586.9
160,709
620,059
108,939
178,399
288,353
73,711
295,179
192,708
473,703
74,974
156,133
315,402
48,174
398,669
8,406
53,323
-1,087
12,135
12,754
3,952
-4,498
6,351
24,020
3,090
9,508
7,696
19,879
4,738
12,437
(D)
(D)
53,010
(D)
(D)
(D)
480.4
726.5
238.7
476.3
711.2
246.0
956.2
145,284
558,723
99,548
159,093
271,021
68,109
257,665
179,534
433,313
66,363
134,697
310,999
41,882
335,127
7,660
47,795
-830
11,167
12,476
3,889
-5,332
30,948
113,111
14,741
35,840
49,312
10,545
44,541
6,259
23,854
3,025
9,222
20,294
2,487
48,314
7,550
19,089
4,598
11,724
38,850
5,494
59,429
424.6
637.9
217.7
401.9
701.1
206.9
851.8
Wholesale trade..........................................................................
840,883
1,207,535
56,838
76,134
51,698
815.0
812,558
1,176,664
55,359
156,293
73,867
51,484
787.9
Information...................................................................................
448,241
284,760
25,485
4,789
236
534.6
305,871
178,243
13,320
48,751
4,788
236
394.9
Finance and insurance..............................................................
11,255,131
638,771
126,660
23
12
1,082.7
9,171,741
503,635
109,154
78,331
23
12
643.6
Professional, scientific, and technical services.......................
299,994
189,846
25,369
(D)
M
292,350
183,072
24,866
79,157
(D)
(D)
807.4
Other industries..........................................................................
5,922,083
559,441
468,078
8,883
(D)
(D)
3,842.2
5,414,743
479,121
448,056
133,850
8,325
1,041
3,347.7
Latin America and Other Western Hemisphere......................
Of which:
B razil...................................................................................
Mexico.................................................................................
(D)
35,226
(D)
1 1 ,0 1 2
By industry of affiliate
D Suppressed to avoid disclosure of data of individual companies.
N o tes . The following ranges are given in employment cells that are suppressed: A—1 to 499; F—500 to 999; G—1,000
to 2,499; H—2,500 to 4,999; 1—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999; L—50,000 to 99,999;
M—100,000 or more.
The data in this table are from “Operations of U.S. Multinational Companies in the United States and Abroad” in the
November 2011 S urvey of C urrent B usin ess .
February 2012
S urvey
of
D-73
C u r r e n t B u s in e s s
Table G.4. Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parent and by Industry of U.S. Affiliate, 2007-2010
[M illions of dollars]
Direct investment position
on a historical-cost basis
All countries, all industries............................................................
2007
2008
2009
1,993,156
2,046,662
2,114,501
Financial inflows without current-cost
adjustment (outflows (-))
2010
2,342,829
Income without current-cost
adjustment
2007
2008
2009
2010
2007
2008
215,952
306,366
152,892
228,249
120,960
125,721
2009
2010
88,336
143,384
By country of foreign parent
Canada...................................................................................................................
201,924
168,746
202,303
206,139
43,867
16,794
35,549
10,488
9,793
8,716
6,848
11,718
Europe....................................................................................................................
O f which:
France...........................................................................................................
Germany........................................................................................................
Luxembourg..................................................................................................
Netherlands
Switzerland....................................................................................................
United Kingdom............................................................................................
1,421,325
1,477,896
1,516,268
1,697,196
124,552
234,331
92,154
173,220
80,219
105,670
74,073
104,699
141,487
187,815
123,389
184,613
149,732
405,543
141,922
173,843
130,020
179,938
157,121
447,529
157,921
191,461
146,580
199,906
140,745
416,139
184,762
212,915
181,203
217,050
192,231
432,488
5,808
-12,690
16,051
25,973
-4,279
25,434
12,950
17,122
6,802
75,327
45,660
52,609
20,450
16,336
20,042
-2,695
10,613
20,419
19,452
20,052
28,692
10,821
41,268
37,022
5,640
3,200
4,390
21,395
5,915
26,622
13,054
15,216
6,810
10,581
22,871
24,013
8,614
10,917
2,179
13,105
13,483
22,162
13,496
15,090
4,657
14,874
11,781
28,983
Latin America and Other Western Hemisphere................................................
O f which:
Bermuda........................................................................................................
Mexico
Panama
United Kingdom Islands, Caribbean..........................................................
Venezuela......................................................................................................
58,869
56,538
48,300
60,074
2,484
8,822
14,344
8,637
8,058
6,314
827
2,514
4,713
8,478
1,066
34,353
4,051
13,703
8,420
916
27,799
2,402
2,175
11,492
-4,839
291
1,023
8,302
-2,032
4,522
731
188
3,674
-1,465
3,900
2,589
144
4,509
145
3,951
1,152
-32
1,266
356
450
1,248
1,163
3,095
2,231
1,498
411
25,120
2,599
5,142
12,591
1,485
31,150
2,857
(D)
(D)
-126
1,132
188
360
-479
1,157
1,472
98
170
-285
A frica......................................................................................................................
1,034
1,817
1,205
2 ,0 1 0
-103
958
-780
846
214
63
-30
44
Middle East............................................................................................................
15,028
16,233
16,949
15,407
5,430
3,455
618
-234
392
-584
-228
422
Asia and Pacific.....................................................................................................
Of which:
Australia.........................................................................................................
Japan.............................................................................................................
294,976
325,431
329,475
362,003
39,721
42,005
11,006
35,292
22,284
5,542
6,846
23,988
35,595
222,695
37,399
234,748
41,289
239,312
49,543
257,273
5,961
21,134
4,574
22,321
2,568
5,594
8,789
20,785
5,045
15,434
2,859
2,458
3,168
6,475
14,709
By industry of U.S. affiliate
Manufacturing........................................................................................................
Food...................................................................................................................
Chemicals..........................................................................................................
Primary and fabricated metals........................................................................
Machinery..........................................................................................................
Computers and electronic products................................................................
Electrical equipment, appliances, and components....................................
Transportation equipment................................................................................
Other manufacturing.........................................................................................
Wholesale trade.....................................................................................................
Retail trade.............................................................................................................
Information..............................................................................................................
Depository institutions (banking)........................................................................
Finance (except depository institutions) and insurance...................................
Real estate and rental and leasing.....................................................................
Professional, scientific, and technical services.................................................
Other industries.....................................................................................................
647,959
27,004
184,719
43,366
73,077
44,435
16,323
87,815
171,219
298,093
30,669
149,002
94,188
276,569
56,472
53,148
387,057
650,380
25,713
157,303
44,530
69,346
59,170
17,771
81,610
194,936
311,181
35,789
158,145
71,671
261,569
48,352
57,585
451,990
665,178
27,706
137,678
48,771
79,765
55,999
17,811
87,030
210,420
307,106
38,774
143,518
104,933
296,184
49,944
41,556
467,309
748,279
41,366
175,394
51,262
79,388
56,760
19,196
93,648
231,264
330,889
39,963
156,518
111,268
356,781
49,108
79,258
470,767
102,756
-476
42,111
9,769
16,687
757
8,808
12,236
12,864
31,808
- 2 ,2 0 1
8,963
-804
9,465
7,776
8,507
49,682
77,098
1,273
-2,776
9,649
9,221
10,031
53,513
1,551
19,353
5,318
5,553
-5,231
3,455
15,174
8,339
17,081
3,801
-8,680
15,318
30,203
2,301
-196
39,550
83,224
13,446
32,845
608
899
621
487
9,523
24,795
45,292
1,384
7,341
7,466
42,029
-1,080
5,202
37,391
46,886
2,977
17,531
4,393
2,780
-2,546
1,701
1,028
19,023
24,242
2,263
5,762
3,996
6,564
3,604
1,497
26,146
36,323
2,115
12,548
4,702
2,844
2,124
1,462
-664
11,191
22,733
1,744
4,623
3,825
25,964
2,495
2,975
25,038
31,635
3,475
20,634
-1,442
1,682
1,164
842
-1,669
6,949
8,293
2,698
3,411
52,030
4,473
23,802
1,055
3,793
3,084
1,272
5,824
8,728
21,821
2,901
5,980
5,727
20,997
392
1,932
31,604
1 ,1 0 1
D Suppressed to avoid disclosure of data of individual companies.
N o te . The data in this table are from tables 14 and 15 in “Foreign Direct Investment in the United States Tables” in the
September 2011 S urvey of C urrent B usin ess .
1 ,0 0 2
-6,249
54,948
32,888
7,203
8,550
24,752
95,353
-4,753
4,879
60,394
1 ,0 2 0
6 ,0 2 0
12
17,115
1,485
1,669
22,018
International Data
D-74
February 2012
Table G.5. Selected Financial and Operating Data of U.S. Affiliates of Foreign Companies,
by Country of Ultimate Beneficial Owner and by Industry of Affiliate, 2009
All affiliates
Majority-owned affiliates
Millions of dollars
Total assets
All countries, all industries........................................... 12,098,418
Sales
Millions of dollars
Thousands
of
Net income employees
3,266,465
7,960
5,970.1
Millions of dollars
U.S.
U.S.
exports of imports of
goods
goods
shipped by shipped to
affiliates
affiliates
231,920
Total
assets
507,342 11,371,253
Sales
Millions of dollars
Net
income
2,917,316
-6,241
Value
added
587,935
Thousands
U.S.
U.S.
of
exports of imports of
employees
goods
goods
shipped by shipped to
affiliates
affiliates
5,279.7
219,749
484,422
By country:
Canada.........................................................................................
1,361,848
314,667
-7,220
739.2
12,892
(D)
1,204,107
223,106
-1,172
53,665
473.9
9,455
29,661
Europe..........................................................................................
Of which:
France.................................................................................
Germany..............................................................................
Netherlands........................................................................
Sweden...............................................................................
Switzerland.........................................................................
United Kingdom..................................................................
8,502,341
1,917,093
27,787
3,816.6
121,079
203,070
8,140,537
1,739,977
6,930
388,637
3,499.3
117,897
197,031
1,365,126
1,419,287
926,677
57,531
1,332,486
258,839
344,762
257,249
44,239
224,012
(D)
566.5
633.1
356.4
172.9
447.3
1,004.3
15,584
33,546
(D)
6,803
4,875
2,704
617
9,297
11,396
19,542
(D)
30,194
5,550
16,665
47,892
1,325,428
1,403,040
911,571
57,318
1,314,055
2,122,071
231,829
332,665
248,504
43,915
217,006
439,468
1,839
4,894
-144
593
8,731
-4,493
52,811
74,804
36,575
11,911
57,032
100,381
514.7
567.0
342.0
172.5
430.6
902.3
14,758
33,438
17,260
4,147
10,784
25,521
18,918
53,067
30,156
5,544
16,566
47,255
Latin America and Other Western Hemisphere......................
O f which:
Bermuda..............................................................................
Mexico.................................................................................
United Kingdom Islands, Caribbean................................
Venezuela............................................................................
368,122
141,047
266
270.1
(D)
(D)
339,706
129,398
242
33,274
258.9
7,227
25,810
(D)
(D)
(D)
(D)
(D)
M
L
31.9
I
2,273
590
1,217
13,977
6,291
3,473
(D)
628
-134
685
-419
99.7
53.8
31.7
5.8
1,213
2,539
(D)
37,085
20,781
10,151
2,269
583
(D)
(D)
175,503
40,944
29,774
19,109
(D)
(D)
(D)
(D)
41,346
(D)
(D)
10,218
688
(D)
(D)
(D)
4,155
10,964
26,209
(D)
(D)
(D)
Africa............................................................................................
(D)
(D)
(D)
5.8
650
(D)
4,929
5,374
62
877
5.8
648
167
Middle East..................................................................................
154,521
76,886
-6,499
70.2
2,407
(D)
134,465
70,768
-5,846
10,575
59.8
2,327
1 0 ,8 6 8
Asia and Pacific..........................................................................
Of which:
Australia...............................................................................
Japan...................................................................................
Korea, Republic o f..............................................................
1,522,164
729,369
-8,207
954.3
74,554
212,253
1,446,467
681,630
-5,496
89,621
896.0
69,920
208,732
223,416
1,087,521
41,522
48,048
539,262
-1,083
-7,807
57
8 8 .6
704.1
28.0
3,030
56,357
10,705
(D)
159,504
(D)
(D)
206,754
1,057,470
40,935
43,570
511,661
64,508
-894
-4,834
45
11,118
65,051
3,596
85.7
661.4
26.9
2,999
52,937
10,661
2,067
157,160
39,203
United States...............................................................................
(D)
(D)
(D)
113.9
(D)
12,167
101,041
67,063
-960
11,286
8 6 .0
12,275
12,154
Manufacturing..............................................................................
Of which:
Food....................................................................................
Petroleum and coal products............................................
Chemicals............................................................................
Nonmetallic mineral products...........................................
Primary and fabricated m etals........................................
Machinery............................................................................
Computers and electronic products.................................
Electrical equipment, appliances, and components......
Transportation equipment.................................................
1,785,765
1,285,399
645
2,164.4
134,712
223,551
1,592,658
1,142,149
10,482
278,451
1,963.8
126,177
203,576
79,617
235,688
377,659
101,829
102,701
123,929
115,003
39,408
374,601
82,986
219,120
254,036
44,403
80,101
82,619
68,241
3,954
5,310
3,947
(D)
961
-16,172
43,565
1,145
6,189
11,399
15,486
4,727
62,812
79,280
211,649
250,120
43,679
73,174
81,834
64,485
27,489
187,335
3,862
4,718
12,805
-3,262
-3,779
865
-1,263
967
-7,539
18,961
39,053
68,567
14,728
15,665
23,668
14,392
7,423
33,974
164.9
66.3
367.6
5,195
12,785
32,473
1,750
7,335
13,427
13,872
3,533
22,766
3,898
56,679
43,411
(D)
33,002
1,774
7,635
13,517
14,631
3,540
26,764
(D)
77,739
233,445
372,020
101,196
97,267
123,152
110,602
39,312
240,060
162.9
57.1
305.0
133.7
163.9
279,940
167.4
59.2
308.0
135.9
169.2
214.1
169.5
66.5
499.4
Wholesale trade..........................................................................
555,049
792,247
-1,441
576.2
83,102
257,957
541,548
758,424
-5,093
60,662
560.1
80,642
255,729
Retail trade..................................................................................
87,620
162,970
(D)
648.1
701
(D)
71,439
122,912
1,189
27,884
469.4
688
7,234
Information...................................................................................
Of which:
Publishing industries.........................................................
Telecommunications..........................................................
507,266
202,280
12,642
380.7
3,214
(D)
264,263
119,776
-4,223
36,418
251.5
2,859
(D)
(D)
(D)
(D)
(D)
(D)
(D)
1 0 2 .8
M
739
90
(D)
(D)
74,870
77,628
32,088
35,552
-2,444
759
11,600
11,536
89.0
60.6
(D)
(D)
(D)
Finance and insurance..............................................................
7,973,429
400,585
-7,343
407.0
0
(*)
7,853,328
388,429
-8,366
42,250
383.9
0
(*)
Real estate and rental and leasing...........................................
170,243
29,151
-2,426
39.6
73
(D)
135,096
23,958
-2,744
11,718
38.3
(D)
(D)
By industry:
(D)
12,951
-3,184
-3,921
820
(D)
2 1 2 .0
1 ,1 2 2
5,514
11,232
15,050
4,719
47,549
49
Professional, scientific, and technical services.......................
137,147
79,444
-2,505
258.2
(D)
(D)
130,936
76,061
-2,196
26,851
245.4
858
308
Other industries...........................................................................
881,899
314,388
(D)
1,495.8
(D)
(D)
781,985
285,607
4,710
103,701
1,367.2
(D)
(D)
(*) Less than $500,000
D Suppressed to avoid disclosure of data of individual companies.
N ote s . The data in this table are from BEA’s annual survey of the operations of U.S. affiliates of foreign companies; see
“U.S. Affiliates of Foreign Companies: Operations in 2009” in the August 2011 S urvey of C urrent B u sin ess .
Size ranges are given in employment cells that are suppressed. The size ranges are: A—1 to 499; F—500 to 999;
G— 1,000 to 2,499; H—2,500 to 4,999; 1—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999; L—50,000
to 99,999; M—100,000 or more.
D-75
February 2012
H. C harts
THE U.S. IN THE INTERNATIONAL ECONOMY
BALANCE ON CURRENT ACCOUNT
COMPONENTS OF CURRENT ACCOUNT BALANCE
Services
Income
Unilateral transfe'rsv " ^ V
EXPORTS AND IMPORTS OF GOODS AND SERVICES
FINANCIAL FLOWS ON U.S.
DIRECT INVESTMENT ABROAD
(OUTWARD) AND FOREIGN
DIRECT INVESTMENT IN THE
UNITED STATES (INWARD)
Outward
Inward
NET INTERNATIONAL INVESTMENT POSITION
VALUED AT CURRENT COST
SECURITIES TRANSACTIONS
Net foreign purchases of U.S. securities
Foreign assets in the United States
U.S. assets abroad
11
Net U.S. purchases of foreign securities u
Net investment position'
-150
I
89
I
91
I
I
I
I
93
95
I
I
97
I
I
I
99
I
I
01
I
I
03
I
I
05
I
07
I
I
I
09
-4,000
I
11
N ote . All series except those for the international investment position are quarterly and are seasonally adjusted when
adjusted data are available. The series are from tables F.2, with opposite signs in some cases, and G.1.
U.S. Bureau of Economic Analysis
l l
89
I
91
I
I
93
I
I
95
I
I
97
I
99
I
I
I
01
I
I
03
I
I
05
I
I
07
I
I
09 10
February 2012
D-76
R egional Data
I. S tate and R egional Tables
The tables in this section include the m ost recent estimates of state personal income and gross domestic product by
state. The sources of these estimates are noted.
The quarterly and annual estimates of state personal income and the estimates of gross domestic product by state
are available online at www.bea.gov. For inform ation on state personal income, e-mail reis@bea.gov; write to the
Regional Economic Inform ation System, BE-55, Bureau of Economic Analysis, U.S. D epartm ent of Commerce,
Washington, DC 20230; or call 202-606-5360. For inform ation on gross domestic product by state, e-mail
gdpbystate@bea.gov; write to the Regional Product Division, BE-61, Bureau o f Economic Analysis, U.S. Departm ent
of Commerce, Washington, DC 20230; or call 202-606-5340.
Table 1.1. Personal Income by State and Region
[M illions of dollars, seasonally adjusted at annual rates]
2008
2007
2009
2010
Percent
change 1
2011
Area
IV
I
II
III
IV
I
United S tates...... 12,131,583 12,417,766 12,562,590 12,499,966 12,326,075 11,950,397
714,641
New England....................
699,204
713,183
716,023
707,440
686,875
Connecticut...................
202,937
202,625
2 0 2 ,8 6 8
191,666
199,685
198,598
48,650
Maine..............................
47,091
48,175
48,695
48,385
47,575
336,367
335,077
337,273
334,169
325,026
Massachusetts.............
328,296
58,130
57,704
57,116
58,276
58,511
55,829
New Hampshire............
43,987
Rhode Island................
43,057
44,203
44,318
43,967
42,701
24,516
24,601
24,639
24,617
24,078
Vermont.........................
23,959
Mideast.............................. 2,214,727 2,272,671 2,281,118 2,277,281 2,249,368 2,167,684
35,704
35,994
35,517
34,682
Delaware.......................
35,130
36,143
District of Columbia.....
40,636
41,135
41,286
40,925
40,285
38,338
279,207
278,987
276,822
271,957
Maryland........................
269,458
275,908
455,590
431,927
New Jersey....................
454,366
455,069
451,348
442,691
New York........................
956,705
952,743
950,363
934,147
889,763
931,185
509,352
516,819
515,061
510,609
499,070
Pennsylvania................
497,925
Great Lakes...................... 1,726,635 1,764,767 1,779,173 1,766,931 1,744,554 1,691,167
Illinois............................
544,419
555,690
559,025
556,551
546,603
527,939
223,814
225,998
224,341
215,664
217,719
Indiana...........................
222,499
M ichigan........................
354,822
350,359
346,173
351,763
346,845
331,819
423,094
419,914
Ohio................................
418,767
414,511
406,913
408,506
215,767
W isconsin......................
209,817
214,732
216,235
214,095
208,832
816,214
813,665
Plains.................................
810,338
809,556
783,978
777,139
115,986
115,569
114,972
112,357
Iowa................................
110,455
115,793
112,952
114,700
113,992
112,768
108,902
Kansas..........................
107,286
229,077
228,137
229,471
217,825
Minnesota......................
220,910
225,511
M issouri.........................
224,934
222,637
217,425
213,719
220,328
226,295
72,624
72,845
71,484
70,588
Nebraska.......................
69,609
73,275
27,029
26,904
26,818
26,835
26,085
North Dakota.................
24,805
32,122
30,795
South Dakota.................
30,355
32,660
32,366
31,690
Southeast......................... 2,778,189 2,832,096 2,877,209 2,851,281 2,815,264 2,750,551
Alabama........................
160,379
158,527
155,364
154,785
159,289
162,578
95,549
94,486
93,260
93,551
93,943
93,190
Arkansas .......................
742,804
Florida...........................
730,403
741,642
750,346
726,455
704,241
345,044
340,874
Georgia..........................
334,747
340,933
336,640
328,528
Kentucky........................
135,049
138,444
141,113
139,709
138,848
137,195
170,202
Louisiana.......................
165,493
168,676
168,843
164,651
161,845
91,087
90,247
93,249
88,970
Mississippi.....................
88,169
90,343
323,837
331,060
336,409
333,745
329,676
320,880
North Carolina..............
149,682
145,034
145,091
148,275
151,175
148,001
South Carolina..............
Tennessee.....................
218,920
221,755
220,158
213,007
215,951
216,959
351,864
351,671
Virginia ..........................
340,052
347,827
348,897
341,977
57,925
58,010
57,515
West Virginia................
55,000
56,413
58,131
Southwest........................ 1,327,277 1,382,738 1,417,299 1,405,684 1,383,304 1,327,933
227,024
226,687
216,597
A rizona..........................
221,471
228,940
223,075
New M exico...................
66,559
68,155
67,586
67,169
65,908
64,515
Oklahoma......................
140,829
139,705
129,553
128,056
136,111
136,495
953,044
971,707
Texas ..............................
979,375
956,564
915,875
913,235
422,200
402,737
Rocky Mountain..............
407,395
416,838
422,710
413,172
Colorado........................
218,109
218,191
212,508
208,059
211,416
214,999
Idaho..............................
50,954
51,431
50,750
48,426
50,118
50,056
M ontana........................
33,287
34,655
34,609
33,189
34,338
34,276
Utah................................
91,470
91,352
87,439
90,069
89,643
87,561
Wyoming........................
27,298
25,502
25,135
26,478
27,046
26,689
Far West............................. 2,201,017 2,225,135 2,252,844 2,248,282 2,203,417 2,139,471
Alaska.............................
28,607
30,321
30,751
30,990
31,133
29,940
C alifornia....................... 1,593,923 1,605,105 1,627,319 1,622,100 1,586,754 1,540,263
55,597
53,772
54,883
55,460
55,243
54,716
Hawaii.............................
106,704
105,780
103,001
99,487
Nevada..........................
107,225
106,545
O regon ..........................
140,271
142,171
141,643
139,711
135,925
136,881
Washington....................
290,303
292,310
281,289
287,330
287,575
279,140
II
III
IV
I
II
III
11,930,526
686,952
191,278
48,102
324,574
55,801
42,895
24,302
2,188,210
34,541
40,220
273,368
434,157
906,027
499,898
1,688,970
524,682
215,533
333,315
405,471
209,969
782,168
112,621
108,460
217,770
216,468
69,843
26,190
30,815
2,747,410
155,988
92,449
698,914
328,631
138,138
162,213
89,056
323,167
145,263
213,340
342,570
57,680
1,312,587
216,116
11,863,892
684,075
189,450
48,001
323,707
55,818
42,828
24,271
2,178,561
34,324
39,851
273,068
434,097
900,321
496,900
1,680,166
522,620
214,501
329,988
403,835
209,222
779,825
112,413
107,820
217,019
215,403
69,765
26,543
30,863
2,730,959
154,955
92,186
691,499
326,895
137,933
161,308
88,355
322,572
144,770
212,036
341,308
57,141
1,300,850
213,674
65,887
124,988
896,300
395,710
204,225
48,140
33,175
86,339
23,830
2,113,748
30,214
1,519,537
54,545
97,088
134,794
277,569
11,922,418
687,946
190,878
48,089
325,414
55,988
43,134
24,443
2,196,422
34,229
40,197
274,380
435,807
910,354
501,454
1,688,866
526,403
216,313
332,266
404,517
209,368
781,356
112,378
108,179
218,204
214,900
70,092
26,629
30,974
2,742,415
155,290
92,615
694,795
327,515
138,569
161,438
88,737
322,608
145,930
214,241
343,336
57,342
1,306,639
215,203
66,106
124,611
900,719
396,178
204,698
48,175
33,184
86,439
23,681
2,122,594
30,555
1,525,886
54,935
97,047
135,349
278,821
12,115,787
695,199
192,137
48,280
330,413
56,316
43,473
24,579
2,229,117
34,877
41,320
278,932
445,231
921,770
506,987
1,702,975
528,162
216,693
335,058
410,178
212,884
792,609
113,274
108,940
222,639
218,537
70,506
27,562
31,151
2,784,289
157,184
93,488
706,454
332,025
138,378
164,641
90,204
329,904
147,618
217,940
348,154
58,300
1,342,008
217,705
67,686
129,220
927,397
405,297
208,947
49,050
34,065
88,633
24,602
2,164,294
31,136
1,559,326
56,001
98,140
137,411
282,281
12,307,133
707,337
196,714
48,677
334,990
57,657
44,153
25,146
2,270,945
35,404
42,244
282,991
450,495
946,337
513,474
1,728,909
537,297
219,906
340,527
415,009
216,170
803,262
115,141
110,514
225,178
220,495
71,858
28,315
31,761
2,826,737
159,690
95,063
718,015
336,176
140,221
167,206
91,942
333,880
150,165
221,589
353,828
58,961
1,367,087
220,769
68,649
132,067
945,602
410,269
211,323
49,861
34,593
89,386
25,107
2,192,587
31,459
1,580,684
56,486
99,684
139,031
285,242
12,441,541
713,727
197,644
49,046
339,334
57,721
44,702
25,281
2,280,840
36,007
42,619
285,642
452,648
943,582
520,343
1,752,780
544,926
222,877
345,857
420,124
218,996
818,992
117,620
112,829
229,379
223,051
73,700
29,410
33,003
2,856,383
162,001
96,369
724,768
339,877
141,866
170,226
93,065
335,757
151,574
223,529
357,484
59,868
1,388,105
222,678
69,331
134,641
961,455
416,593
214,607
50,784
34,964
90,577
25,662
2,214,121
31,751
1,594,915
57,125
100,597
140,741
288,993
6 6 ,0 2 1
126,496
903,954
397,486
204,768
48,204
33,124
87,015
24,376
2,126,742
30,153
1,528,143
54,947
98,541
135,830
279,129
p Preliminary
r Revised
1. Percent change from preceding period was calculated from unrounded data.
N o te . The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
IV
Ir
II'
III p
12,563,991 12,825,123 12,934,733 12,953,429
716,768
732,388
742,098
742,571
198,704
204,117
206,747
206,583
48,977
50,107
50,184
50,222
340,862
347,527
352,533
353,114
57,877
59,228
59,970
60,064
44,957
45,531
46,380
46,294
26,284
25,392
25,878
26,294
2,290,563 2,343,445 2,359,218 2,361,889
36,464
37,052
37,618
37,523
43,171
43,994
44,469
44,605
288,113
293,786
296,415
297,209
453,049
467,394
463,495
468,039
946,566
972,127
974,882
975,633
523,200
532,990
538,440
538,881
1,768,923 1,809,587 1,820,416 1,822,747
550,171
563,952
568,163
568,932
224,338
229,579
231,253
231,147
358,082
349,210
358,273
358,702
424,193
431,631
435,150
435,858
2 2 1 ,0 1 1
226,152
227,768
228,108
827,767
843,002
851,485
852,503
121,047
122,555
118,573
122,636
113,802
115,330
116,562
116,771
232,980
238,381
240,028
240,314
224,520
227,960
229,951
229,986
74,414
75,673
76,638
76,864
30,089
30,976
31,560
31,665
33,634
34,191
33,390
34,268
2,879,559 2,929,381 2,956,523 2,956,859
162,654
164,593
165,710
165,661
96,967
97,856
98,536
98,479
731,649
744,383
752,611
751,902
343,927
351,230
352,818
352,719
142,387
146,671
145,323
146,604
170,849
173,616
175,354
176,043
93,616
94,426
95,261
95,238
338,203
344,512
347,700
348,054
152,626
155,515
157,308
157,298
225,757
229,722
232,772
232,925
360,754
369,771
367,261
370,144
60,170
60,945
62,010
61,791
1,406,958 1,439,102 1,456,189 1,462,022
225,309
229,775
231,822
232,175
70,079
71,116
72,013
72,093
136,669
138,893
141,155
141,504
974,901
999,318 1,011,199 1,016,250
429,837
435,023
422,630
435,955
217,932
221,729
224,495
225,057
51,363
52,348
52,942
52,950
35,371
36,322
35,881
36,346
92,046
93,598
94,657
94,988
25,918
26,281
26,607
26,614
2,250,822 2,298,381 2,313,781 2,318,884
32,564
31,901
32,403
32,574
1,626,191 1,662,140 1,671,473 1,674,899
57,630
58,620
59,125
59,135
100,984
102,522
103,899
103,707
142,186
145,264
147,149
147,056
297,432
299,571
291,929
301,512
2011:111
0.1
0.1
- 0.1
-
0.1
0 .2
0 .2
0 .2
0 .0
0.1
-0.3
0.3
0.3
0.1
0 .1
0.1
0.1
0.1
0 .0
0 .2
0 .2
0.1
0.1
0.1
0 .2
0 .1
0 .0
0.3
0.3
0 .2
0.0
0 .0
- 0 .1
- 0 .1
0 .0
0 .0
0.4
0 .0
0.1
0 .0
0.1
0.1
-0.4
0.4
0 .2
0 .1
0 .2
0.5
0.2
0.3
0 .0
0 .1
0.3
0 .0
0.2
0 .0
0 .2
0 .0
- 0 .2
- 0.1
0 .6
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 2 in the “Regional Quarterly Report” in the January 2012 S urvey of C urrent B u sin ess .
February 2012
S urvey
of
D-77
C u r r e n t B u s in e s s
Table I.2. Annual Personal Income and Per Capita Personal Income by State and Region
Personal income
Area
Percent
change 1
Millions of dollars
2005
United States......................
New England.................................................
Connecticut................................................
Maine
Massachusetts
New Hampshire..........................................
Rhode Island
Vermont....
Mideast
Delaware.
District of Columbia...................................
M aryland.
New Jersey..................................................
New York.....................................................
Pennsylvania
Great Lakes
Illinois
Indiana
Michigan..
Ohio
Wisconsin
Plains..............................................................
Iowa..............................................................
Kansas........................................................
Minnesota....................................................
Missouri.......................................................
Nebraska.....................................................
North Dakota..............................................
South Dakota..............................................
Southeast.......................................................
Alabam a..
Arkansas.
Florida
Georgia....
Kentucky..
Louisiana.
Mississippi
North Carolina
South Carolina
Tennessee
Virginia........................................................
West Virginia..............................................
Southwest......................................................
Arizona........................................................
New Mexico................................................
Oklahoma....................................................
Texas...........................................................
Rocky Mountain............................................
Colorado
Idaho
Montana
Utah
Wyoming......................................................
Far West
Alaska..........................................................
C alifornia.....................................................
Hawaii
Nevada
O regon........................................................
Washington.................................................
Per capita personal income
2006
2007
2008r
2009'
2010r
10,476,669 11,256,516 11,900,562 12,451,599 11,916,808 12,357,113
602,449
649,981
712,822
686,462
688,585
708,258
168,804
184,049
197,029
201,757
190,818
196,300
41,982
44,307
48,476
47,942
46,354
48,745
282,367
335,721
304,855
322,543
324,680
336,400
50,028
53,765
56,418
58,155
55,859
57,393
38,570
40,664
44,119
42,661
42,889
44,321
20,697
22,341
24,593
23,580
24,273
25,100
1,898,598 2,046,137 2,177,747 2,270,110 2,182,719 2,267,866
31,077
34,444
33,350
34,702
35,840
35,688
31,965
34,787
37,525
40,995
40,138
42,338
237,146
252,431
264,798
277,731
273,193
283,920
454,094
379,650
411,429
436,120
433,997
450,356
786,512
851,437
948,490
901,616
939,564
915,526
432,248
462,704
512,960
489,076
499,331
516,001
1,551,823 1,635,232
1,702,732
1,763,856
1,687,292
1,738,397
472,073
532,587
554,467
525,411
504,493
540,139
195,526
214,641
224,163
206,868
215,503
220,953
325,749
344,234
350,947
331,847
334,858
342,663
371,931
390,457
419,071
404,623
405,184
417,376
215,207
186,545
198,556
206,648
209,347
217,265
673,520
714,501
758,810
812,443
781,832
810,658
95,467
100,573
115,580
112,442
107,500
116,152
90,876
98,577
113,603
104,847
108,340
111,521
193,990
205,857
228,049
217,705
227,544
216,840
186,753
198,727
223,548
216,049
209,131
221,650
60,064
62,810
72,557
70,072
67,569
72,620
20,542
21,375
23,637
26,896
26,362
28,844
25,829
26,582
32,209
30,862
29,285
32,326
2,403,753 2,580,723 2,728,855 2,843,963 2,742,834 2,836,742
135,636
144,463
160,193
155,399
160,382
151,999
77,475
94,382
82,918
89,312
92,610
95,472
633,193
740,312
690,268
721,052
697,362
720,222
292,544
311,855
330,702
340,873
327,892
338,001
119,151
139,529
137,959
126,719
132,703
140,713
135,318
168,303
162,402
143,223
156,618
168,231
77,748
81,098
91,231
88,780
86,585
92,207
277,743
332,722
322,307
297,596
316,956
334,436
124,392
134,197
142,167
149,283
145,249
150,496
187,679
200,227
219,448
211,342
213,156
222,204
294,734
316,298
350,065
342,298
335,319
355,055
48,139
51,862
57,620
57,419
54,100
59,325
1,107,818 1,209,262
1,290,504 1,397,256 1,312,002 1,376,040
188,152
206,958
226,432
218,588
215,398
221,615
55,342
59,274
67,367
63,036
65,980
68,936
107,640
118,749
124,762
138,285
126,412
133,149
756,683
824,281
965,173
904,212
884,119
952,339
341,570
372,380
396,108
418,730
398,028
413,697
179,695
215,952
194,390
205,242
205,437
213,202
42,197
46,253
49,077
50,798
48,236
50,265
28,179
30,447
32,464
34,469
33,168
34,748
90,634
71,530
78,378
86,839
90,160
85,106
19,969
22,912
26,878
24,347
25,322
24,220
1,897,138 2,048,299 2,157,219 2,232,420 2,125,639 2,205,456
24,617
26,304
30,799
30,215
28,108
31,562
1,387,661
1,495,533
1,610,319
1,528,457
1,566,400
1,590,279
45,332
49,124
55,296
54,786
52,555
56,810
105,677
91,837
98,041
97,844
103,710
99,851
117,634
140,949
127,403
133,821
135,474
139,842
230,057
289,379
287,111
252,091
272,625
278,665
2010
3.7
3.2
2.9
1.7
3.6
2.7
3.3
3.4
3.9
3.6
5.5
3.9
3.8
4.2
3.3
3.0
2 .8
2.5
3.3
3.0
3.8
3.7
3.3
2.9
4.5
2 .6
3.6
9.4
4.7
3.4
3.2
3.1
3.3
3.1
2 .0
3.6
3.9
3.8
3.6
4.2
3.7
3.3
4.9
2.9
4.5
5.3
5.3
3.9
3.8
4.2
4.8
3.8
4.0
3.8
4.5
4.0
3.7
1 .8
3.2
3.0
Rank in
United
States
Dollars
2005r
35,452
42,376
48,134
31,834
44,097
38,528
36,117
33,317
40,191
36,771
56,362
42,405
43,880
41,108
34,719
33,773
37,437
31,141
32,409
32,445
33,635
34,011
32,204
33,102
37,892
32,253
34,098
31,795
33,306
32,418
29,681
27,858
35,489
32,775
28,486
29,567
26,755
31,905
29,131
31,327
38,898
26,443
32,489
32,223
28,641
30,333
33,220
34,253
38,795
29,544
29,975
29,104
38,839
37,874
36,911
38,731
35,067
37,760
32,557
36,766
2006r
37,725
45,627
52,324
33,474
47,559
41,092
38,251
35,867
43,227
38,812
60,957
44,858
47,500
44,567
36,984
35,493
39,900
32,667
33,365
34,008
35,598
35,802
33,719
35,678
39,867
34,013
35,432
32,914
33,948
34,379
31,208
29,385
37,996
34,061
30,034
33,287
27,917
33,373
30,794
32,885
41,218
28,372
34,605
34,326
30,209
33,040
35,287
36,544
41,181
31,493
31,959
31,035
43,836
40,504
38,951
41,518
37,507
38,786
34,706
39,570
2007r
39,506
48,223
55,859
34,930
50,150
42,984
40,349
37,820
45,873
39,808
65,329
46,839
50,256
47,852
38,927
36,865
41,950
33,645
34,419
35,183
36,831
37,741
35,843
37,663
41,642
35,521
37,887
36,208
36,993
35,848
32,528
31,353
39,256
35,369
31,175
35,794
29,568
34,761
31,990
34,221
43,261
29,497
36,226
35,441
31,675
34,329
37,098
38,064
42,724
32,607
33,651
32,761
45,281
42,272
41,316
43,211
39,946
39,872
35,950
42,192
2008r
40,947
49,708
56,904
36,434
51,897
44,194
41,819
39,403
47,606
40,549
70,653
48,854
52,128
49,369
40,671
38,117
43,498
34,890
35,282
36,392
38,151
40,123
38,313
40,456
43,463
37,737
40,391
40,903
40,306
36,907
33,952
32,834
39,958
35,863
32,525
37,944
30,949
35,740
32,962
35,126
44,688
31,310
38,525
36,054
33,505
37,690
39,704
39,467
44,164
33,108
35,302
34,034
49,222
43,257
44,801
43,993
41,507
39,824
37,399
44,098
2009r
2010
38,846
47,659
53,573
36,058
49,816
42,443
40,706
38,849
45,527
38,626
67,775
47,674
49,568
46,699
39,420
36,399
41,058
33,363
33,514
35,145
36,927
38,339
37,074
38,246
41,223
36,243
38,657
39,644
38,240
35,248
32,661
31,969
37,387
34,081
31,957
36,157
30,006
34,108
31,646
33,802
43,187
31,075
35,556
33,957
32,394
34,004
36,458
36,875
41,317
31,031
33,708
31,886
43,489
40,746
43,233
41,353
40,681
36,519
35,571
41,795
r Revised
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
1. Percent change from preceding period was calculated from unrounded data.
methodologies used to prepare the estimates, and in the timing of the availability of source data.
personal income level shown for the United States is derived as the sum of the state estimates. It differs from
Source: Table 2 in the “Regional Quarterly Report" in the October 2011 S urvey of C urrent B usiness
N o te . The
r
39,945
48,989
54,877
36,717
51,302
43,586
42,095
40,098
47,057
39,664
70,044
49,070
51,167
48,450
40,599
37,434
42,057
34,042
34,691
36,180
38,177
39,473
38,084
39,005
42,847
36,965
39,674
42,764
39,593
36,111
33,516
32,678
38,222
34,800
32,376
37,021
31,046
34,977
32,460
34,955
44,246
31,999
36,696
34,553
33,368
35,396
37,706
37,772
42,226
31,986
35,068
32,473
44,861
41,837
44,205
42,578
41,661
36,919
36,427
42,570
2010
1
31
2
9
15
19
21
4
3
5
18
16
41
39
33
25
26
23
10
29
20
11
22
42
44
24
38
47
28
50
36
46
37
7
48
40
43
34
27
14
49
35
45
6
8
12
17
30
32
13
D-78
Regional Data
February 2012
Table I.3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region
Disposable personal income
Area
C onnecticut...............................................
Maine..........................................................
Massachusetts..........................................
New Hampshire.........................................
Rhode Island.............................................
Vermont......................................................
Mideast..........................................................
Delaware...................................................
District of Columbia..................................
M aryland...................................................
New Jersey................................................
New York....................................................
Pennsylvania.............................................
Great Lakes..................................................
Illinois.........................................................
Indiana........................................................
Michigan....................................................
Ohio............................................................
W isconsin..................................................
Plains.............................................................
Iowa............................................................
Kansas.......................................................
Minnesota..................................................
Missouri
Nebraska
North Dakota.............................................
South Dakota.............................................
Southeast......................................................
Alabama.....................................................
Arkansas ...................................................
Florida........................................................
Georgia.......................................................
Kentucky.
Louisiana
Mississippi
North Carolina...........................................
South Carolina...........................................
Tennessee
V irginia...
West Virginia.............................................
Southwest....................................................
Arizona.......................................................
New Mexico...............................................
Oklahoma..................................................
Texas..........................................................
Rocky Mountain...........................................
Colorado....................................................
Idaho..........................................................
M ontana....................................................
Utah............................................................
Wyoming.....................................................
Far West....
Alaska....
California
Hawaii....
Nevada...
O regon...
Washington................................................
Percent
change 1
Millions of dollars
2005
United States.....................
Per capita disposable personal income
9,269,389
519,148
141,491
37,611
242,288
45,018
34,229
18,511
1,640,209
27,089
27,635
205,361
328,725
668,814
382,585
1,380,020
417,908
175,184
291,861
329,577
165,490
602,630
86,413
81,470
170,056
167,716
54,246
18,849
23,879
2,154,295
122,857
70,359
564,208
260,665
106,698
123,943
71,910
247,481
112,228
172,735
257,467
43,743
1,003,510
168,244
50,294
96,921
688,051
304,303
159,214
37,888
25,419
63,876
17,906
1,665,273
22,477
1,210,243
40,216
81,280
103,084
207,973
2006
2007
2008r
2009r
2010 r
9,905,432 10,413,288 11,017,237 10,776,595 11,164,436
558,095
584,036
614,933
606,828
625,217
153,813
162,375
169,880
164,863
169,747
43,330
43,754
39,596
41,313
44,501
260,656
271,640
288,252
285,775
295,164
48,178
50,261
52,272
51,234
52,597
37,564
39,267
35,953
38,983
40,238
20,884
21,932
19,899
22,219
22,970
1,755,189 1,848,506 1,954,104 1,925,083 1,996,262
29,108
30,243
31,590
30,944
31,896
30,114
32,176
35,939
35,561
37,543
217,700
226,944
241,709
241,929
251,680
372,187
393,214
384,804
355,529
399,774
714,843
759,029
799,116
781,981
811,077
407,895
427,927
452,536
449,863
464,293
1,447,415 1,498,573 1,564,133 1,530,919 1,577,480
489,124
443,565
464,450
474,213
488,005
184,570
190,383
200,237
196,404
200,956
299,376
305,994
313,424
303,797
313,679
367,727
344,743
355,910
371,505
378,758
188,779
175,160
181,836
189,843
196,083
710,684
736,962
635,546
670,781
722,801
90,432
95,877
103,694
102,808
106,188
87,754
92,554
101,102
98,478
101,246
188,367
199,332
179,851
194,978
203,836
199,657
177,581
185,762
197,291
202,521
56,222
60,174
65,169
64,126
66,497
19,412
21,337
24,260
24,181
26,508
24,293
29,588
28,822
30,167
26,710
2,302,607 2,429,703 2,559,062 2,514,506 2,601,264
145,042
129,861
136,352
143,231
147,942
75,136
80,465
85,365
85,186
87,866
614,903
642,460
671,968
643,968
665,096
275,989
292,117
305,411
298,999
308,236
113,474
118,249
124,641
125,876
128,223
129,587
155,529
142,008
150,949
149,435
82,838
74,603
79,543
83,923
86,159
263,532
296,204
304,257
278,855
293,070
127,171
120,475
135,181
133,963
138,848
182,823
192,528
202,023
199,653
207,981
305,707
316,782
275,159
291,099
306,568
47,064
48,857
51,787
52,581
54,346
1,087,780 1,158,581
1,261,082 1,211,189 1,270,309
184,234
194,674
205,087
199,270
204,985
56,682
60,714
53,451
61,359
63,419
111,142
124,257
106,223
115,953
122,301
796,084
835,252
879,604
743,873
870,378
328,862
347,479
372,406
361,773
376,356
170,853
178,875
190,834
185,533
192,579
43,654
41,189
45,720
44,439
46,413
27,299
28,842
30,864
30,255
31,746
69,370
79,204
82,382
74,949
81,079
20,151
21,159
23,910
22,342
23,236
1,789,939 1,875,628 1,968,715 1,915,612 1,980,586
23,892
25,320
27,805
27,760
28,965
1,298,263 1,351,033 1,409,382 1,368,353 1,417,347
43,547
46,629
49,504
50,036
51,846
86,564
92,006
95,814
89,957
91,762
111,224
124,062
117,516
122,258
125,912
226,448
243,123
262,147
257,248
264,753
2010
3.6
3.0
3.0
1.7
3.3
2.7
3.2
3.4
3.7
3.1
5.6
4.0
3.9
3.7
3.2
3.0
2.9
2.3
3.3
3.0
3.9
3.7
3.3
2 .8
4.5
2.7
3.7
9.6
4.7
3.5
3.3
3.1
3.3
3.1
1.9
4.1
4.0
3.8
3.6
4.2
3.6
3.4
4.9
2.9
4.5
5.5
5.3
4.0
3.8
4.4
4.9
4.0
4.0
3.4
4.3
3.6
3.6
2.0
3.0
2.9
Rank in
United
States
Dollars
2005r
31,367
36,517
40,346
28,520
37,838
34,669
32,052
29,798
34,721
32,052
48,727
36,722
37,994
34,957
30,730
30,034
33,141
27,902
29,038
28,751
29,839
30,432
29,150
29,676
33,217
28,965
30,795
29,174
30,793
29,054
26,885
25,299
31,622
29,203
25,509
27,082
24,746
28,428
26,282
28,832
33,980
24,028
29,430
28,814
26,028
27,312
30,207
30,515
34,373
26,528
27,039
25,990
34,826
33,245
33,701
33,779
31,110
33,419
28,530
33,237
2006r
33,197
39,177
43,728
29,915
40,663
36,822
33,819
31,946
37,081
33,875
52,769
38,686
41,046
37,417
32,603
31,417
35,081
29,146
29,830
30,027
31,404
31,846
30,320
31,761
34,831
30,394
31,715
29,891
31,024
30,674
28,054
26,627
33,847
30,144
26,894
30,118
25,681
29,553
27,646
30,026
35,857
25,747
31,128
30,557
27,241
29,555
31,844
32,273
36,194
28,045
28,655
27,468
38,553
35,395
35,380
36,042
33,249
34,314
30,299
35,545
2007r
34,569
40,901
46,034
31,132
42,235
38,293
35,528
33,496
38,937
34,692
56,017
40,143
42,889
39,673
34,060
32,445
36,583
29,843
30,595
30,947
32,408
33,363
31,967
33,248
36,174
31,551
33,740
32,685
33,741
31,918
29,180
28,247
34,977
31,242
27,780
32,455
27,163
30,583
28,616
31,175
37,556
26,639
32,522
31,564
28,482
30,581
33,404
33,391
37,236
29,004
29,898
28,851
39,560
36,754
37,220
37,270
35,441
35,373
31,570
37,626
2008r
36,230
42,882
47,913
32,567
44,559
39,723
37,220
35,139
40,980
35,740
61,939
42,517
45,139
41,594
35,881
33,801
38,372
31,166
31,510
32,262
33,654
35,696
34,373
36,004
37,990
33,703
36,278
36,894
37,025
33,210
30,741
29,697
36,269
32,132
29,055
34,031
28,470
31,818
29,848
32,337
39,135
28,140
34,770
32,655
30,517
33,867
35,805
35,101
39,028
29,798
31,609
30,446
43,788
38,147
40,446
38,503
37,160
36,107
32,919
39,948
2009r
35,129
42,130
46,286
32,908
43,847
38,928
36,999
35,561
40,153
34,702
60,046
42,219
43,949
40,502
35,515
33,025
37,057
30,406
30,682
31,896
33,299
34,850
33,898
34,765
36,919
33,096
35,377
36,364
35,712
32,314
30,104
29,406
34,524
31,078
29,158
33,269
27,997
31,014
29,187
31,661
38,571
28,456
32,824
31,415
29,809
31,191
33,677
33,516
37,314
28,589
30,747
29,083
39,907
36,720
39,719
37,021
37,154
33,508
32,101
38,583
2010 r
36,090
43,245
47,454
33,521
45,013
39,945
38,216
36,695
41,422
35,449
62,110
43,498
45,420
41,825
36,531
33,969
37,997
30,961
31,757
32,832
34,455
35,884
34,817
35,411
38,383
33,775
36,329
39,300
36,948
33,113
30,916
30,075
35,296
31,736
29,502
34,226
29,009
31,821
29,948
32,717
39,476
29,313
33,876
31,960
30,698
32,512
34,826
34,363
38,142
29,535
32,038
29,672
41,164
37,572
40,568
37,948
38,021
33,928
32,799
39,255
r Revised
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
1, Percent change from preceding period was calculated from unrounded data.
methodologies used to prepare the estimates, and in the timing of the availability of source data.
N ote . The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
Source: Table 3 in the “Regional Quarterly Report" in the October 2011 S urvey of C urrent B usiness
2010
1
31
3
8
13
19
22
4
2
5
20
16
41
39
32
27
26
23
12
30
21
10
18
42
44
24
40
48
28
50
38
45
34
9
49
37
43
35
25
14
47
36
46
6
7
17
15
29
33
11
February 2012
S urvey
of
D-79
C u r r e n t B u s in e s s
Table I.4. Gross Domestic Product (GDP) by State for Industries, 2010
[Millions of dollars]
State and region
Rank of
total GDP
by state
Total
Natural
NondurableDurable-goods
resources Construction
goods
manufacturing
and mining
manufacturing
Trade
Transportation
Information
and utilities
Financial
activities
Professional Education Leisure
Other
and
and health
and
Government
services
business
services hospitality
services
United States..............
14,551,782
435,502
505,557
961,179
756,346
1,670,483
682,179
670,341
3,093,726
1,771,943
1,274,357
531,116
343,817
1,855,236
New England........................
Connecticut.......................
Maine..................................
M assachusetts..................
New Hampshire.................
Rhode Island.....................
Vermont..............................
23
43
13
41
44
50
802,771
237,261
51,643
378,729
60,283
49,234
25,620
2,908
436
757
957
234
108
416
23,984
5,955
1,883
11,457
1,878
1,873
938
56,024
17,734
2,913
24,745
5,836
2,680
2,117
25,915
8,139
2,952
1,656
1,249
717
83,489
23,718
6,781
36,447
8,159
5,155
3,230
26,071
7,362
2,192
11,520
2,203
1,594
1,199
34,470
8,986
1,236
19,260
2,267
1,998
724
216,462
79,812
10,627
94,210
13,385
13,458
4,970
110,577
28,008
4,833
63,116
7,029
5,291
2,301
96,637
22,848
6,745
49,868
7,355
6,437
3,385
26,894
5,827
2,178
13,400
2,329
1,854
1,306
17,453
4,697
1,184
8,293
1,581
1,070
628
81,886
23,739
7,363
34,255
6,371
6,468
3,691
Delaware...........................
40
2,677,426
62,280
103,288
295,304
487,335
1,159,540
569,679
15,034
319
892
3,335
9,375
81,618
1,645
951
12,195
14,603
33,295
18,930
94,259
1,253
73
9,115
13,895
30,836
39,087
106,107
2,975
146
8,793
24,943
36,124
33,126
276,116
4,569
2,036
29,580
64,877
109,933
65,120
106,692
1,613
1,214
12,205
24,469
39,295
27,895
148,007
1,160
5,530
11,466
23,489
83,903
22,458
719,365
29,621
13,575
67,138
125,755
365,108
118,168
378,350
6,543
24,859
44,727
71,672
155,256
75,294
263,629
4,272
7,728
27,753
43,362
110,525
69,990
90,467
1,547
3,931
9,715
14,781
42,659
17,833
64,013
983
6,928
7,628
10,007
24,509
13,958
333,770
5,780
36,319
53,877
54,589
124,762
58,443
2,037,329
651,518
275,676
384,171
477,699
248,265
27,855
7,897
5,124
4,377
6,141
4,315
61,883
20,479
9,616
11,527
12,551
7,711
214,813
46,987
42,622
50,277
46,847
28,080
136,798
37,349
32,294
14,810
33,131
19,214
244,526
76,969
30,650
49,004
59,227
28,676
103,711
34,231
15,173
17,757
24,583
11,967
61,942
23,444
5,901
10,762
13,997
7,837
414,971
152,498
44,674
71,543
93,821
52,436
241,662
92,199
21,370
48,286
57,692
22,115
192,688
56,504
24,851
36,916
49,176
25,242
64,819
21,519
9,104
12,533
14,331
7,333
49,504
16,472
6,449
9,359
11,226
5,998
222,155
64,970
27,848
47,021
54,975
27,340
948,287
142,698
127,170
270,039
244,016
89,786
34,685
39,893
39,957
8,534
6,400
6,551
4,063
6,017
4,899
3,492
31,039
4,312
3,996
9,506
7,669
2,904
1,398
1,253
69,523
12,901
9,952
21,702
16,077
4,756
1,569
2,568
56,981
12,453
7,454
14,031
14,826
6,116
1,137
964
115,576
16,330
16,324
32,538
30,440
10,195
4,763
4,986
50,658
7,304
7,015
11,754
12,848
7,700
2,409
1,628
38,300
4,041
6,395
9,677
13,434
2,735
1,061
957
190,190
33,444
20,452
60,382
41,489
17,360
5,982
11,080
96,782
8,656
12,535
33,401
30,080
8,058
1,959
2,093
88,468
11,162
10,471
27,132
25,317
7,509
3,091
3,786
30,675
4,031
3,616
8,839
9,700
2,218
929
1,341
22,313
3,137
3,066
6,054
6,419
2,073
721
846
117,825
16,392
19,495
28,473
31,653
12,145
4,766
4,900
3,238,209
172,567
102,566
747,735
403,070
163,269
218,853
97,461
424,935
164,445
254,806
423,860
64,642
82,409
5,072
5,123
6,769
4,446
6,826
31,011
3,567
4,905
1,454
1,977
3,885
7,375
124,570
6,789
3,586
33,542
15,115
5,416
9,655
4,068
14,246
6,782
7,314
15,459
2,597
187,630
16,807
7,588
26,140
16,649
14,869
7,995
8,236
31,396
16,049
23,308
15,723
2,870
214,924
11,337
7,489
12,284
27,818
13,130
31,571
8,327
50,566
10,916
16,551
21,134
3,801
393,977
21,915
14,299
101,799
54,776
20,225
22,061
12,180
44,593
21,226
35,409
38,071
7,422
166,336
6,932
38,156
24,107
10,320
12,937
6,023
15,414
8,376
13,635
16,599
3,814
124,643
4,017
3,651
31,759
26,749
4,327
4,485
2,079
13,420
4,335
8,249
20,016
1,555
618,725
26,403
15,356
182,776
72,068
23,324
29,072
13,382
91,143
26,933
43,265
86,074
8,930
371,818
16,871
9,470
87,504
50,000
13,822
17,510
6,899
43,126
16,449
28,855
76,801
4,514
271,520
14,008
8,826
69,205
32,235
15,019
15,913
7,949
32,924
12,131
27,842
28,911
6,556
125,976
4,783
2,887
42,674
13,897
5,194
7,928
4,375
12,575
6,786
10,596
11,950
2,332
79,676
4,997
2,420
19,901
9,070
3,685
4,793
2,379
8,661
4,312
7,035
10,949
1,474
476,004
29,546
14,938
95,225
56,141
27,113
23,923
17,997
61,965
28,694
30,771
78,288
11,402
151,979
6,809
7,888
15,682
121,600
69,419
12,060
3,166
5,031
49,162
115,672
16,389
4,704
9,574
85,004
88,309
3,917
956
7,694
75,741
205,570
33,780
8,097
16,319
147,373
94,230
12,779
3,381
8,358
69,713
60,996
6,993
2,394
4,171
47,438
279,737
58,113
12,359
21,337
187,927
184,012
28,327
9,372
12,906
133,407
124,217
24,013
6,470
11,145
82,590
56,290
10,629
2,946
4,378
38,337
37,288
5,350
2,127
3,405
26,406
220,604
34,450
15,817
27,542
142,796
24,034
9,979
2,845
2,659
5,661
2,890
30,210
23,278
59,555
37,047
6,226
2,749
11,975
1,557
36,917
18,318
4,821
3,785
8,386
1,607
19,257
10,793
1,777
1,629
3,654
1,404
12,633
6,310
974
4,231
527
94,943
49,976
9,829
6,123
24,872
4,142
3,425
677
68,640
33,478
7,912
6,071
16,004
5,174
110,446
5,010
74,698
3,945
7,095
6,880
12,818
171,773
1,144
132,436
1,750
2,470
5,383
28,590
559,334
5,917
411,502
15,242
30,402
31,959
64,313
329,186
3,051
255,036
5,976
12,349
15,965
36,809
200,281
2,990
143,402
5,193
7,368
15,478
25,851
116,738
1,385
73,572
5,520
19,711
5,195
11,354
60,935
790
44,673
1,648
2,272
3,892
7,660
334,351
9,191
220,948
15,897
13,902
22,161
52,252
M aryland...........................
New Jersey........................
New Y ork...........................
Pennsylvania.....................
Great Lakes..........................
Illinois.................................
Indiana................................
Michigan.............................
Ohio....................................
W isconsin..........................
Plains.....................................
Iowa....................................
Kansas...............................
Minnesota..........................
Missouri..............................
Nebraska............................
North Dakota.....................
South Dakota.....................
15
7
3
6
5
16
12
8
21
30
31
17
Southeast..............................
Alabam a............................
Arkansas...........................
Florida................................
Georgia...............................
Kentucky............................
Louisiana...........................
Mississippi.........................
North Carolina...................
South Carolina...................
Tennessee.........................
V irginia...............................
West Virginia.....................
22
36
49
46
26
34
4
11
28
24
35
9
27
19
10
39
0
1 ,1 1 2
1 1 ,2 0 2
Arizona...............................
New Mexico.......................
Oklahoma..........................
Texas ..................................
37
29
2
1,688,324
253,609
79,678
147,543
1,207,494
Colorado............................
Idaho ..................................
M ontana............................
Utah....................................
Wyoming............................
18
42
48
33
47
502,207
257,641
55,435
36,067
114,538
38,527
36,906
14,024
3,677
3,113
3,587
12,505
20,854
9,599
2,554
1,885
5,115
1,701
25,539
10,441
3,996
682
9,974
447
17,556
7,518
2,017
4,465
2,434
55,163
26,879
7,362
4,274
13,188
3,460
2,657,228
49,120
1,901,088
66,760
125,650
174,151
340,460
78,453
12,952
48,249
415
5,814
3,915
7,108
92,191
1,858
62,056
3,405
6,402
5,786
12,684
197,719
109,755
1,655
90,850
963
1,306
4,927
10,053
296,066
2,955
214,287
6,498
12,674
18,789
40,863
Far West.................................
Alaska.................................
California...........................
Hawaii.................................
Nevada...............................
Oregon ...............................
Washington........................
20
45
1
38
32
25
14
220
129,380
309
3,885
33,820
30,105
1 ,1 2 2
N ote . Totals shown for the United States differ from the national income and product account statistics of gross
domestic product (GDP) because GDP by state excludes and national GDP includes the compensation of Federal civilian
and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad
1 0 ,0 2 2
1 ,2 0 0
1 ,2 2 0
1 ,0 0 1
and for military equipment, except office equipment. Also, GDP by state and national GDP have different revision schedules.
Source: This table reflects the GDP by state statistics for 2010 that were released on June 7,2011.
D-80
February 2012
J. Local A rea Table
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2008-2010—Continues
Personal income
Metropolitan p o rtio n ..........................................
M etropolitan statistical areas 2
Abilene, TX ............................................................
Akron, OH..............................................................
Albany, GA.............................................................
Albany-Schenectady-Troy, N Y ............................
Albuquerque, N M .................................................
Alexandria, LA .......................................................
Allentown-Bethlehem-Easton, PA-NJ................
Altoona, PA............................................................
Amarillo, TX ...........................................................
Ames, IA.................................................................
Anchorage, AK
Anderson, IN
Anderson, SC
Ann Arbor, Ml
Anniston-Oxford, A L .............................................
Appleton, Wl
Asheville, NC
Athens-Clarke County, G A ..................................
Atlanta-Sandy Springs-Marietta, G A ..................
Atlantic City-Hammonton, N J ..............................
Auburn-Opelika, A L ..............................................
Augusta-Richmond County, GA-SC....................
Austin-Round Rock-San Marcos, TX..................
Bake rsf ie Id-Delano, C A .......................................
Baltimore-Towson, M D ........................................
Bangor, ME..
Barnstable Town, M A ...........................................
Baton Rouge, LA
Battle Creek, Ml
Bay City, M l.
Beaumont-Port Arthur, TX ...................................
Bellingham, WA
Bend, OR....
Billings, MT............................................................
Binghamton, NY
Birmingham-Hoover, A L ......................................
Bismarck, ND
Blacksbu rg-Chri stiansbu rg -Radfo rd, VA............
Bloomington, IN
Bloomington-Normal, IL ......................................
Boise City-Nampa, ID
Boston-Cambridge-Quincy, MA-NH....................
Boulder, CO.
Bowling Green, KY
Bremerton-Silverdale, W A...................................
Bridgeport-Stamford-Norwalk, C T......................
Brownsville-Harlingen, T X ...................................
Brunswick, GA
Buffalo-Niagara Falls, N Y ....................................
Burlington, NC
Burlington-South Burlington, VT.........................
Canton-Massillon, O H ..........................................
Cape Coral-Fort Myers, FL..................................
Cape Girardeau-Jackson, MO-IL........................
Carson City, N V .....................................................
Casper, W Y ...........................................................
Cedar Rapids, IA ..................................................
Champaign-Urbana, IL.........................................
Charleston, W V .....................................................
Charleston-North Charleston-Summerville, SC
Charlotte-Gastonia-Rock Hill, NC-SC...............
Charlottesville, V A ................................................
Chattanooga, TN-GA............................................
Cheyenne, W Y ......................................................
Chicago-Joliet-Naperville, IL-IN-WI....................
Chico, C A ...............................................................
Cincinnati-Middletown, OH-KY-IN.......................
Clarksville, TN-KY................................................
Cleveland, TN ........................................................
Cleveland-Elyria-Mentor, O H...............................
Coeur d’Alene, ID ..................................................
College Station-Bryan, TX ...................................
Colorado Springs, C O ..........................................
Columbia, MO
Columbia, SC
Columbus, GA-AL
Columbus, IN .........................................................
Columbus, OH
Corpus Christi, TX
Corvallis, O R .........................................................
Crestview-Fort Walton Beach-Destin, F L ..........
See footnotes at end of table.
Percent change from
preceding period'
Millions of dollars
Area
Per capita personal income
Rank in
United
States
Dollars
2009
2010p
2008
2009
2010p
10,811,794
10,608,998
10,914,926
-1.9
2.9
42,578
41,366
42,159
5,657
26,510
4,811
36,006
30,145
5,495
31,628
4,033
8,712
3,088
17,522
4,171
5,627
13,766
3,686
8,378
14,355
5,814
209,581
10,803
3,757
17,960
64,412
23,979
129,323
4,965
11,360
29,515
4,352
3,363
13,775
7,144
5,841
6,087
8,349
44,868
4,052
4,515
5,654
6,455
21,188
251,777
15,237
3,753
10,518
71,232
8,597
3,739
41,978
4,713
8,677
13,422
24,996
3,017
2,317
4,187
10,076
7,844
11,316
23,352
68,639
8,544
18,050
4,055
438,902
7,147
84,080
9,388
3,423
84,553
4,450
6,172
23,758
5,980
26,418
10,644
2,995
68,777
15,429
3,160
7,592
5,632
25,944
4,834
36,195
30,309
5,530
31,420
4,120
8,747
3,106
17,311
4,025
5,599
13,159
3,656
8,166
14,188
5,722
203,138
10,639
3,756
18,122
64,015
23,924
129,704
5,045
11,086
29,989
4,370
3,348
13,851
7,111
5,705
6,060
8,408
43,650
4,181
4,530
5,744
6,489
20,587
245,736
14,584
3,728
10,454
67,380
8,874
3,650
42,108
4,612
8,664
13,201
23,916
3,073
2,219
3,976
5,812
26,667
4,953
37,134
30,984
5,611
32,255
4,228
9,015
3,143
17,955
4,138
5,813
13,496
3,733
8,500
14,622
5,816
208,107
10,823
3,861
18,854
66,937
24,853
133,587
5,165
11,309
30,438
4,519
3,439
14,315
7,274
5,792
6,234
8,542
44,445
4,401
4,631
5,886
6,661
-0.4
- 2 .1
0.5
0.5
0.5
3.2
34,811
37,693
30,536
41,564
34,915
36,049
38,853
31,726
35,640
35,164
47,921
31,707
30,496
40,299
31,427
37,672
34,386
30,610
40,678
39,571
27,927
32,986
39,423
29,302
48,258
32,372
52,335
37,467
31,695
31,047
35,756
36,317
37,244
39,469
33,063
40,165
38,454
28,001
29,890
38,691
35,125
56,161
52,386
30,777
42,599
78,812
21,874
34,118
36,940
31,911
41,453
33,048
40,911
31,744
41,713
56,825
39,436
34,348
37,256
36,282
40,320
43,181
34,793
45,526
46,769
32,628
39,831
35,895
29,947
40,551
32,814
28,227
38,280
35,548
35,425
37,089
39,367
38,208
36,460
37,557
41,771
34,368
36,886
30,602
41,634
34,582
36,105
38,421
32,396
35,366
34,790
46,216
30,585
30,014
38,305
30,886
36,352
33,620
29,801
38,894
38,822
27,108
32,949
38,051
28,819
48,109
32,812
51,324
37,679
32,065
31,026
35,778
35,579
36,260
38,725
33,341
38,791
39,015
27,895
30,101
38,459
33,674
54,280
49,743
29,943
42,020
74,010
22,168
32,781
37,087
30,753
41,170
32,586
39,060
32,136
40,055
52,843
38,935
33,920
37,665
35,544
38,162
42,221
33,775
45,149
45,090
32,712
38,834
35,154
29,489
39,645
32,229
28,143
38,111
35,604
34,788
36,555
37,342
37,575
35,602
36,685
41,385
35,086
37,935
31,479
42,642
34,810
36,406
39,233
33,280
35,958
35,087
46,886
31,437
31,043
39,085
31,497
37,620
34,362
30,175
39,360
39,400
27,425
33,753
38,730
29,509
49,218
33,569
52,370
37,839
33,209
31,930
36,794
36,076
36,681
39,326
33,990
39,368
40,277
28,398
30,467
39,221
34,136
55,576
50,697
30,517
42,482
76,070
22,974
32,788
38,259
31,481
42,193
33,439
39,138
32,620
40,186
54,340
39,974
34,398
38,575
36,232
39,236
42,667
34,903
45,331
45,957
33,498
39,683
36,265
30,259
40,879
32,500
28,753
38,662
36,303
35,096
37,709
38,603
38,361
36,708
37,327
42,488
1 0 ,0 0 2
7,830
11,465
23,297
66,389
8,445
17,701
4,083
425,178
7,189
82,460
9,484
3,394
82,503
4,428
6,335
24,048
6,079
26,418
10,709
2,859
68,469
15,212
3,133
7,497
2 1 ,1 0 2
253,463
14,964
3,856
10,697
69,886
9,375
3,689
43,432
4,770
8,923
13,514
24,271
3,146
2,219
4,103
10,322
7,984
11,735
24,193
69,224
8,614
18,464
4,176
435,413
7,372
84,611
9,980
3,507
84,854
4,514
6,599
25,145
6,293
27,022
11,149
2,967
70,609
15,719
3,194
7,679
2009
2010p
2 .8
2.5
2 .6
2 .2
-0.7
1.5
2.7
2 .2
2 .6
0.4
3.1
0 .6
1 .2
1 .2
0 .6
-3.5
-0.5
-4.4
- 0 .8
-2.5
- 1 .2
- 1 .6
-3.1
-1.5
3.7
2 .8
3.8
2 .6
2.1
4.1
3.1
1 .6
2.4
1.7
0 .0
2 .8
0.9
- 0 .6
- 0 .2
0.3
1 .6
4.0
4.6
3.9
3.0
2.4
-2.4
2 .0
1 .6
1.5
3.4
2.7
3.4
2.3
1.5
2.9
0.4
-0.4
0 .6
-0.5
-2.3
-0.4
0.7
-2.7
3.2
0.3
1 .6
1 .8
5.3
2 .2
1 .6
2.5
0.5
2 .6
- 2 .8
-2.4
-4.3
-0.7
- 0 .6
-5.4
3.2
-2.4
0.3
- 2 .2
- 0 .2
- 1 .6
-4.3
1.9
-4.2
-5.0
-0.7
- 0 .2
1.3
- 0 .2
-3.3
- 1.1
-1.9
0.7
-3.1
2.5
3.1
2 .6
3.4
2.3
3.7
5.6
1.1
3.1
3.4
3.0
2.4
1.5
2.4
0 .0
3.2
3.2
2 .0
2.4
3.8
4.3
2 .0
0 .6
4.3
2.3
2.4
2.5
-1.9
2 .6
1 .0
5.2
3.3
-0.9
-2.4
-0.5
2 .6
1 .2
1.7
0 .0
0 .6
-4.5
-0.4
-1.4
-0.9
- 1 .2
2 .8
1.9
4.2
4.6
3.5
2.3
4.1
3.8
3.1
3.3
2 .0
2.4
2008
Percent change from
preceding period
2010 P
2009
2010p
- 2 .8
1.9
203
129
300
50
-1.3
- 2 .1
2 .1
2 .8
210
-
0 .2
0 .2
1 .0
0 .2
- 1.1
2 .1
- 0 .8
- 1.1
2.9
2.4
0.7
163
98
252
177
202
25
302
312
105
298
139
219
332
94
91
354
236
112
339
18
241
12
133
254
290
154
174
157
95
230
93
77
350
325
99
226
7
15
324
53
1
365
265
126
299
55
246
1 01
272
79
10
82
218
119
170
97
49
209
33
29
243
89
168
329
69
273
349
113
166
200
136
116
124
156
142
52
-3.6
-3.5
- 1 .6
-4.9
-1.7
-3.5
- 2 .2
- 2 .6
-4.4
-1.9
-2.9
- 0 .1
-3.5
- 1 .6
-0.3
1.4
-1.9
0 .8
2.1
2.7
1.7
0.9
1.4
2 .8
3.4
2 .0
2 .0
3.5
2 .2
1.3
1 .2
1.5
1 .2
2.4
1 .8
2.4
2.3
2.3
2 .0
0 .6
1 .2
0 .1
0 .1
2 .0
2 .6
0.4
3.6
2.9
-1.9
1.4
0 .8
1.9
1.5
3.2
-
-3.4
1.5
-0.4
0.7
- 0 .6
-4.1
-3.3
-5.0
-2.7
-1.4
- 6 .1
1.3
-3.9
0.4
-3.6
-0.7
-1.4
-4.5
1 .2
-4.0
-7.0
-1.3
- 1 .2
1.1
- 2 .0
-5.4
- 2 .2
-2.9
- 0 .8
-3.6
0.3
-2.5
- 2 .1
-1.5
- 2 .2
- 1 .8
-0.3
-0.4
2 .8
1 .2
1 .6
1 .8
1 .2
2 .0
1.4
2.4
1.9
1.9
1.1
2 .8
3.6
0 .0
3.2
2.4
2.5
2 .6
0 .2
1.5
0.3
2 .8
2.7
1.4
2.4
1.9
2 .8
1.1
3.3
0.4
1.9
2.4
2 .2
3.2
2 .6
3.1
0 .8
2 .2
1.4
0 .2
2 .0
- 1 .8
-1.4
-5.1
-1.7
-2.4
-2.3
-0.9
0.9
3.2
3.4
2 .1
3.1
1 .8
2.7
February
2012
S urvey
of
C u r r e n t B u s in e s s
D -8 1
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2008-2010—Continues
Personal income
Area
Cumberland, MD-WV........................................................
Dallas-Fort Worth-Arlington, T X ......................................
Dalton, GA..........................................................................
Danville, IL..........................................................................
Danville, VA........................................................................
Davenport-Moline-Rock Island, IA -IL.............................
Dayton, OH.........................................................................
Decatur, A L ........................................................................
Decatur, IL..........................................................................
Deltona-Daytona Beach-Ormond Beach, F L ................
Denver-Aurora-Broomfield, C O .......................................
Des Moines-West Des Moines, IA...................................
Detroit-Warren-Livoma, M l...............................................
Dothan, AL
Dover, DE
Dubuque, IA
Duluth, MN-WI
Durham-Chapel Hill, NC...................................................
Eau Claire, Wl
El Centro, CA
Elizabethtown, K Y .............................................................
Elkhart-Goshen, IN ...........................................................
Elmira, NY
El Paso, TX
Erie, PA
Eugene-Springfield, O R ...................................................
Evansville, IN-KY...............................................................
Fairbanks, AK
Fargo, ND-M N....................................................................
Farmington, NM..................................................................
Fayetteville, NC
Fayetteville-Springdale-Rogers, AR-M O ........................
Flagstaff, AZ...
Flint, Ml
Florence, S C ..
Florence-Muscle Shoals, A L ............................................
Fond du Lac, W l.................................................................
Fort Collins-Loveland, C O ................................................
Fort Smith, AR-OK
Fort Wayne, IN
Fresno, C A ....
Gadsden, AL..
Gainesville, FL
Gainesville, G A .................................................................
Glens Falls, N Y ..................................................................
Goldsboro, NC....................................................................
Grand Forks, ND-MN
Grand Junction, CO
Grand Rapids-Wyoming, M l.............................................
Great Falls, MT...................................................................
Greeley, CO....
Green Bay, Wl
Greensboro-High Point, N C .............................................
Greenville, NC~..................................................................
Greenville-Mauldin-Easley, SC........................................
Gulfport-Biloxi, MS
Hagerstown-Martinsburg, MD-W V..................................
Hanford-Corcoran, CA
Harrisburg-Carlisle, PA
Harrisonburg, VA
Hartford-West Hartford-East Hartford, CT......................
Hattiesburg, MS
Hickory-Lenoir-Morganton, N C .......................................
Hinesville-Fort Stewart, GA..............................................
Holland-Grand Haven, M l.................................................
Honolulu, H I.......................................................................
Hot Springs, A R ................................................................
Houma-Bayou Cane-Thibodaux, L A ...............................
Houston-Sugar Land-Baytown, TX..................................
Huntington-Ashland, WV-KY-OH.....................................
Huntsville, A L .....................................................................
Idaho Falls, ID ....................................................................
Indianapolis-Carmel, IN.....................................................
Iowa City, IA........................................................................
Ithaca, NY
Jackson, M l........................................................................
Jackson, MS
Jackson, TN
Jacksonville, FL..................................................................
Jacksonville, N C .................................................................
Janesville, W l.....................................................................
Jefferson City, M O .............................................................
Johnson City, T N ................................................................
Johnstown, PA....................................................................
Jonesboro, AR....................................................................
Joplin, M O ..........................................................................
See footnotes at end of table.
Percent change from
preceding period'
Millions of dollars
2008
2009
3,021
275,258
3,882
2,460
3,180
14,781
29,668
4,837
4,290
16,307
121,505
23,821
175,014
4,731
4,864
3,342
9,688
20,382
5,350
4,671
3,895
6,540
2,925
21,315
9,112
11,882
12,976
3,887
8,031
3,904
13,967
14,817
4,467
12,623
6,570
4,434
3,624
11,515
9,195
14,243
28,097
3,121
9,162
5,634
4,234
3,595
3,557
5,299
26,003
3,047
7,153
11,232
25,218
5,771
21,727
8,533
8,662
4,060
21,192
3,724
61,636
4,155
3,135
269,280
3,765
2,459
3,184
14,659
29,436
4,841
4,239
15,995
118,961
23,649
167,009
4,713
4,910
3,317
9,633
20,554
5,386
4,786
3,984
6,028
2,904
22,073
9,142
11,784
12,836
3,837
7,981
3,811
14,430
14,764
4,481
12,520
6,571
4,441
3,541
11,292
9,054
13,949
28,050
3,108
9,163
5,452
4,263
3,605
3,511
5,083
25,242
3,077
6,926
11,198
24,980
5,811
21,370
8,567
8,819
3,931
21,312
3,689
60,607
4,189
10,902
1,963
8,470
41,291
3,320
1 1 ,1 0 0
1,990
8,569
41,188
3,308
8,328
280,247
8,809
15,391
4,158
68,537
5,813
3,425
4,768
19,631
3,703
53,381
6,816
5,142
5,091
6,108
4,566
3,616
5,175
8 ,2 2 2
273,247
9,025
15,588
4,113
67,187
5,831
3,428
4,713
19,468
3,645
52,297
7,349
5,012
5,115
6,075
4,602
3,627
5,200
Per capita personal income
2010 P
3,239
277,516
3,870
2,528
3,267
15,164
30,176
4,997
4,336
16,373
121,902
24,252
170,618
4,840
5,043
3,477
9,954
21,233
5,649
5,048
4,388
6,395
3,048
23,425
9,393
1 2 ,0 2 1
13,252
3,950
8,357
3,920
15,218
15,356
4,597
12,808
6,726
4,623
3,708
11,600
9,395
14,312
28,891
3,216
9,400
5,587
4,414
3,729
3,605
5,038
25,935
3,210
7,194
11,558
25,774
6,057
22,147
8,729
9,051
4,126
21,830
3,765
62,213
4,319
11,265
2,117
8,732
42,282
3,413
8,475
281,842
9,298
16,148
4,269
69,228
5,972
3,524
4,867
20,026
3,771
53,752
7,747
5,147
5,253
6,245
4,745
3,813
5,328
2009
2010p
3.8
- 2 .2
-3.0
-
0 .0
0.1
0 .8
0 .8
0.1
1 .2
-1.9
- 2.1
-0.7
-4.6
-0.4
1 .0
- 0 .8
- 0 .6
0 .8
0.7
2.5
2.3
-7.8
-0.7
3.6
0.3
- 0 .8
- 1.1
-1.3
- 0 .6
-2.4
3.3
-0.4
0.3
- 0 .8
0 .0
0 .2
-2.3
-1.9
-1.5
- 2.1
- 0 .2
-0.4
3.3
3.1
2 .8
2 .8
2 .6
3.4
2.5
3.2
2.3
2.4
2.5
2 .6
2 .2
2.7
2.7
4.8
3.3
3.3
4.9
5.5
1 0.1
6.1
5.0
6.1
2 .8
2 .0
3.2
2.9
4.7
2.9
5.5
4.0
2 .6
2.3
2.4
4.1
4.7
2.7
3.8
2 .6
3.0
3.5
0 .0
2 .6
-3.2
0.7
0.3
-1.3
2.5
3.5
3.4
2.7
-0.9
2.7
4.3
3.9
3.2
3.2
4.2
3.6
1.9
^ .1
-2.9
1 .0
-3.2
-0.3
-0.9
0.7
- 1 .6
0.4
1 .8
2 .6
-3.2
4.9
2.4
0 .6
-0.9
-1.7
0 .8
- 1 .8
-1.4
- 1.1
0.3
0.4
-1.3
-2.5
2.5
1.3
- 1.1
- 2 .0
0.3
0 .1
- 1 .2
- 0 .8
- 1 .6
- 2 .0
2 .1
2.7
3.1
3.3
7.9
3.1
2.4
2 .8
3.1
3.1
3.0
3.6
3.8
3.0
2.4
2 .8
3.3
2.9
3.5
2 .8
7.8
-2.5
0.5
-0.5
5.4
2.7
2.7
0 .8
3.1
5.1
2.5
0.3
0.5
Rank in
United
States
Dollars
2 .8
2008
29,488
44,699
27,648
30,025
29,657
39,262
35,198
31,843
38,788
32,788
49,313
43,026
40,330
33,095
30,797
36,124
34,779
41,603
33,714
27,818
34,155
33,071
33,050
27,684
32,698
34,126
36,490
41,105
39,886
30,762
39,266
33,178
33,880
29,148
32,238
30,228
35,837
39,481
31,219
34,565
30,888
29,947
35,013
31,783
32,795
29,983
36,262
37,016
33,625
37,838
29,383
37,136
35,447
31,479
34,805
35,177
32,587
26,704
39,079
30,435
51,174
29,828
30,493
26,398
32,716
44,114
34,594
40,222
49,147
30,695
38,251
33,131
39,875
39,063
34,119
29,647
36,806
32,510
40,357
40,316
32,006
34,444
31,127
31,568
30,668
29,957
2009
30,383
42,827
26,719
30,095
29,791
38,768
34,988
31,584
38,280
32,333
47,406
42,034
38,734
32,639
30,672
35,683
34,468
41,129
33,606
27,825
34,520
30,518
32,689
28,056
32,668
33,587
35,935
40,293
38,699
29,461
39,790
32,438
33,572
29,253
32,080
30,223
34,935
38,059
30,481
33,659
30,440
29,813
34,776
30,541
33,107
29,738
35,849
34,377
32,638
38,132
27,905
36,754
34,747
31,102
33,773
34,851
32,986
25,816
38,971
29,716
50,105
29,653
29,817
24,275
32,221
43,779
34,643
39,571
46,691
31,363
37,818
31,934
38,572
38,477
33,778
29,436
36,309
31,809
39,175
42,463
31,244
34,355
30,729
31,920
30,198
29,820
2010
P
31,376
43,341
27,162
31,003
30,701
39,881
35,868
32,452
39,163
33,109
47,696
42,409
39,754
33,149
30,955
37,038
35,585
41,967
34,988
28,808
36,232
32,354
34,317
29,124
33,465
34,151
36,912
40,173
39,911
30,118
41,383
32,964
34,136
30,143
32,696
31,428
36,476
38,585
31,421
34,335
30,957
30,782
35,543
30,996
34,218
30,337
36,548
34,433
33,485
39,380
28,291
37,683
35,537
31,846
34,681
34,960
33,561
26,935
39,686
30,011
51,291
30,113
30,831
27,334
33,069
44,239
35,494
40,709
47,156
32,330
38,523
32,632
39,315
39,053
34,682
30,378
37,075
32,641
39,840
43,167
32,108
35,001
31,388
33,068
31,425
30,292
2010
P
Percent change from
preceding period
2009
307
45
357
313
321
84
180
275
100
257
21
54
87
255
317
148
185
58
206
348
170
281
221
343
245
225
150
80
83
334
66
262
226
333
267
303
160
117
305
220
316
320
187
314
223
327
159
217
244
92
352
137
189
292
213
208
242
358
88
336
13
335
318
355
258
39
191
71
22
282
120
271
96
106
212
326
146
270
85
46
285
204
306
259
304
328
2010”
3.0
-4.2
-3.4
0 .2
0.5
-1.3
- 0 .6
- 0 .8
-1.3
-1.4
-3.9
-2.3
^ .0
-1.4
-0.4
- 1 .2
-0.9
- 1.1
-0.3
0 .0
1.1
-7.7
- 1.1
1.3
- 0 .1
- 1 .6
-1.5
- 2 .0
-3.0
-4.2
1.3
- 2 .2
-0.9
0.4
-0.5
0 .0
-2.5
-3.6
-2.4
- 2 .6
-1.5
-0.4
-0.7
-3.9
1 .0
-0 .8
- 1.1
3.3
1 .2
1.7
3.0
3.1
2.9
2.5
2.7
2.3
2.4
0 .6
0.9
2 .6
1 .6
0.9
3.8
3.2
2 .0
4.1
3.5
5.0
6 .0
5.0
3.8
2.4
1.7
2.7
-0.3
3.1
2 .2
4.0
1 .6
1.7
3.0
1.9
4.0
4.4
1.4
3.1
2 .0
1.7
3.3
2 .2
1.5
3.4
2 .0
1.9
-7.1
-2.9
0 .2
2 .6
0 .8
3.3
1.4
2.5
2.3
2.4
2.7
0.3
1.7
4.3
-5.0
- 1 .0
- 2 .0
- 1 .2
-3.0
-0.9
1 .2
-3.3
-0.3
-2.4
- 2.1
- 0 .6
- 2 .2
- 8 .0
-1.5
- 0 .8
0.1
- 1 .6
-5.0
2 .2
1.1
-3.6
-3.3
-1.5
- 1 .0
-0.7
-1.4
- 2 .2
-2.9
5.3
-2.4
-0.3
-1.3
1.1
-1.5
-0.5
1 .8
1 .0
2.4
1 .6
3.4
1 2 .6
2 .6
1.1
2.5
2.9
1 .0
3.1
1.9
2 .2
1.9
1.5
2.7
3.2
2.1
2 .6
1.7
1.7
2 .8
1.9
2.1
3.6
4.1
1 .6
D-82
Regional Data
February 2012
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2008-2010—Continues
Personal income
Area
See footnotes at end of table.
10,970
3,578
84,584
8,072
14,555
9,765
6,637
24,132
3,294
4,701
6,079
11,107
7,221
5,189
19,291
18,674
15,674
5,568
5,609
73,753
3,690
4,024
4,743
2,079
3,752
17,004
3,251
11,194
26,706
3,247
7,918
3,112
567,707
47,793
9,284
8,294
7,988
3,967
24,803
18,453
4,812
3,349
3,771
14,668
6,948
50,222
6,843
244,913
3,460
7,707
66,671
154,421
3,796
12,690
16,073
5,852
5,115
13,253
4,043
3,788
4,597
3,407
4,908
7,754
6,914
2 0 ,1 0 0
62,638
40,730
51,929
1,032,619
5,457
34,270
12,596
10,340
4,444
4,731
17,731
48,266
10,096
36,927
75,473
6,060
3,704
2009
10,804
3,598
83,610
8,484
14,921
9,710
6,626
23,713
3,129
4,773
6 ,0 1 2
10,966
7,030
5,101
18,865
18,450
15,510
5,624
5,814
69,855
3,732
4,140
4,809
2,072
3,777
16,816
3,193
11,134
27,029
3,221
7,782
3,147
550,832
47,433
9,428
8,242
7,968
3,982
24,572
17,948
4,913
3,287
3,689
15,200
6,907
49,095
6,750
237,215
3,354
7,167
65,978
149,795
3,819
12,713
15,949
5,959
4,881
13,147
4,189
3,792
4,569
3,389
4,834
7,679
6,706
19,128
61,164
40,184
50,818
992,331
5,377
33,388
12,499
10,217
4,452
4,516
17,717
47,547
10,240
36,514
73,466
6,059
3,729
2010
P
11,046
3,677
85,217
9,015
15,168
10,024
6,784
24,624
3,183
4,962
6,190
11,337
7,109
5,249
19,288
18,910
16,030
5,978
6,179
69,317
3,792
4,508
4,982
2,172
3,903
17,145
3,291
11,372
27,403
3,354
8,175
3,263
565,365
48,968
9,823
8,452
8,168
4,128
25,272
18,405
5,331
3,441
3,748
16,131
7,073
50,613
7,160
242,278
3,464
7,700
67,767
154,479
3,894
13,195
16,480
6,098
4,985
13,468
4,424
3,968
4,662
3,444
5,000
7,893
6,817
19,344
63,769
41,282
52,484
1,028,140
5,604
33,660
12,706
10,473
4,535
4,798
18,200
49,227
10,513
37,000
75,289
6,319
3,797
2009
2010
-1.5
0 .6
- 1 .2
5.1
2.5
- 0 .6
- 0 .2
-1.7
-5.0
1.5
- 1.1
-1.3
- 2 .6
-1.7
- 2 .2
- 1 .2
- 1.1
1 .0
3.6
-5.3
P
2 .2
2 .2
1.9
6.3
1.7
3.2
2.4
3.8
1.7
4.0
3.0
3.4
1.1
2.9
2 .2
2.5
3.4
6.3
6.3
- 0 .8
1.1
1 .6
2.9
1.4
-0.3
0.7
- 1.1
- 1 .8
-0.5
8.9
3.6
4.8
3.3
1 .2
0 .8
1.4
4.1
5.1
3.7
-1.7
1.1
-3.0
- 0 .8
1 .6
0 .6
-0.3
0.4
-0.9
-2.7
2.1
-1.9
- 2 .2
3.6
- 0 .6
- 2 .2
-1.4
-3.1
-3.1
-7.0
- 1 .0
-3.0
0 .6
0 .2
- 0 .8
1 .8
-4.6
- 0 .8
3.6
0.1
- 0 .6
-0.5
-1.5
- 1 .0
-3.0
-4.8
-2.4
-1.3
- 2 .1
-3.9
-1.5
- 2 .6
- 0 .8
- 1 .2
0 .2
-4.6
- 0.1
-1.5
1.4
- 1.1
-2.7
2 .0
3.1
2.1
2 .6
3.2
4.2
2.5
2.5
3.7
2 .8
2.5
8.5
4.7
1 .6
6.1
2.4
3.1
6.1
2.1
3.3
7.4
2.7
3.1
2 .0
3.8
3.3
2.3
2.1
2.4
5.6
4.6
2 .0
1 .6
3.4
2 .8
1 .6
1.1
4.3
2.7
3.3
3.6
4.2
0 .8
1.7
2.5
1.9
6 .2
0 .0
2.7
3.5
2.7
1.3
2.5
4.3
0.7
1 .8
Rank in
United
States
Dollars
2008
33,925
31,756
42,298
34,011
37,106
31,699
36,231
35,078
33,070
35,638
30,707
41,590
36,774
25,934
32,433
36,476
33,807
23,170
27,927
38,567
33,854
34,100
36,045
34,537
34,649
36,957
30,452
37,785
39,165
27,197
37,695
30,600
44,727
37,802
33,835
33,268
34,533
26,739
44,461
46,185
39,897
35,212
29,897
19,910
34,539
38,571
27,313
44,900
31,096
58,165
43,342
47,779
35,230
31,013
31,575
33,550
33,475
35,795
32,275
27,957
39,697
29,121
28,233
29,753
51,564
63,480
40,483
47,548
46,626
55,302
34,675
49,242
46,203
31,328
45,557
35,556
33,542
39,672
41,321
43,695
36,155
36,746
32,589
2009
33,180
31,810
41,376
34,546
37,738
31,393
36,280
34,151
31,690
35,868
29,942
40,393
35,502
25,546
31,511
35,717
33,487
22,871
28,305
36,018
33,919
34,515
36,171
34,268
35,030
35,984
29,975
37,159
39,065
26,178
36,513
30,810
43,119
37,198
33,636
32,779
34,334
26,682
43,487
44,854
40,031
34,203
29,442
20,067
34,142
37,505
26,755
43,094
30,090
52,605
42,577
45,928
35,126
30,857
31,178
33,921
32,050
35,356
32,855
27,859
39,201
28,843
27,984
28,906
49,573
60,059
38,870
46,724
44,359
52,783
34,235
47,836
45,677
30,878
45,782
32,979
32,846
38,413
40,971
42,645
34,786
36,407
32,602
O
CM
Kalamazoo-Portage, M l.....................................................
Kankakee-Bradley, IL.........................................................
Kansas City, MO-KS..........................................................
Kennewick-Pasco-Richland, W A .....................................
Killeen-Temple-Fort Hood, T X ..........................................
Kingsport-Bristol-Bristol, TN-VA.......................................
Kingston, N Y ......................................................................
Knoxville, TN
Kokomo, IN.
La Crosse, WI-MN
Lafayette, IN
Lafayette, LA.......................................................................
Lake Charles, LA...............................................................
Lake Havasu City-Kingman, A Z ......................................
Lakeland-Winter Haven, FL..............................................
Lancaster, PA
,,,
Lansing-East Lansing, M l.................................................
Laredo, TX..............
Las Cruces, NM.....
Las Vegas-Paradise, NV
Lawrence, KS
Lawton, OK.........................................................................
Lebanon, PA...........
Lewiston, ID-WA
Lewiston-Auburn, ME
Lexington-Fayette, KY
Lima, O H ................
Lincoln, N E .............
Little Rock-North Little Rock-Conway, A R ......................
Logan, UT-ID......................................................................
Longview, T X .......................
Longview, W A......................
Los Angeles-Long Beach-Santa Ana, C A ......................
Louisville-Jefferson County, KY-IN...................................
Lubbock, T X ........................
Lynchburg, V A .....................
Macon, G A ..........................
Madera-Chowchilla, CA.....................................................
Madison, W l.......................................................................
Manchester-Nashua, NH..................................................
Manhattan, KS....................................................................
Mankato-North Mankato, M N ...........................................
Mansfield, OH
McAllen-Edinburg-Mission, T X ........................................
Medford, O R ...........
Memphis, TN-MS-AR........................................................
Merced, C A ........................................................................
Miami-Fort Lauderdale-Pompano Beach, F L ................
Michigan City-La Porte, IN ...............................................
Midland, T X ........................................................................
Milwaukee-Waukesha-West Allis, W l..............................
Minneapolis-St. Paul-Bloomington, M N-W I....................
Missoula, M T......................................................................
Mobile, A L ...........................................................................
Modesto, CA.......................................................................
Monroe, LA.
Monroe, M l.
Montgomery, A L .................................................................
Morgantown, W V ................................................................
Morristown, T N ...................................................................
Mount Vernon-Anacortes, W A..........................................
Muncie, IN ..
Muskegon-Norton Shores, M l..........................................
Myrtle Beach-North Myrtle Beach-Conway, S C ............
Napa, CA.............................................................................
Naples-Marco Island, F L ..................................................
Nashville-Davidson-Murfreesboro-Franklin, T N ............
New Haven-Milford, C T .....................................................
New Orleans-Metairie-Kenner, LA...................................
New York-Northern New Jersey-Long Island, NY-NJ-PA
Niles-Benton Harbor, M l....................................................
North Port-Bradenton-Sarasota, F L ................................
Norwich-New London, C T ................................................
Ocala, FL.............................................................................
Ocean City, NJ
Odessa, TX
Ogden-Clearfield, U T ........................................................
Oklahoma City, OK
Olympia, WA.......................................................................
Omaha-Council Bluffs, NE-IA...........................................
Orlando-Kissimmee-Sanford, FL.....................................
Oshkosh-Neenah, W l........................................................
Owensboro, K Y ..................................................................
Percent change from
preceding period 1
Millions of dollars
2008
Per capita personal income
33,787
32,398
41,768
35,259
37,142
32,390
37,186
35,219
32,256
37,061
30,641
41,336
35,540
26,221
31,998
36,355
34,542
23,757
29,349
35,470
34,120
35,962
37,264
35,597
36,261
36,205
30,984
37,537
39,029
26,573
38,095
31,832
43,999
38,081
34,310
33,415
35,149
27,267
44,342
45,892
41,520
35,521
30,179
20,678
34,765
38,399
27,885
43,401
31,081
56,212
43,517
47,008
35,559
31,929
31,978
34,516
32,811
35,888
33,959
29,011
39,814
29,267
29,057
29,187
49,808
59,985
39,986
47,836
44,731
54,341
35,736
47,860
46,363
31,614
46,632
34,985
33,115
39,136
41,541
42,615
35,169
37,824
33,057
Percent change from
preceding period
2010p
2009
235
277
60
195
145
278
144
196
284
147
323
67
188
362
287
165
215
364
340
193
228
176
143
184
169
172
315
141
108
359
127
293
40
128
222
249
198
356
38
30
64
190
331
366
211
123
353
44
310
6
43
24
186
291
288
216
263
179
231
346
86
341
344
342
16
3
81
20
35
9
183
19
27
295
26
207
256
102
63
51
197
134
260
2010p
- 2 .2
0 .2
1 .8
1 .8
- 2 .2
0.9
1 .6
1.7
- 1 .0
0.1
- 2 .6
-4.2
0 .6
-2.5
-2.9
-3.5
-1.5
- 2 .8
- 2.1
-0.9
-1.3
1.4
- 6 .6
0 .2
1 .2
0.3
- 0 .8
1.1
- 2 .6
- 1 .6
-1.7
-0.3
-3.7
-3.1
0.7
-3.6
- 1 .6
- 0 .6
-1.5
- 0 .6
- 0 .2
- 2 .2
-2.9
0.3
-2.9
-1.5
0 .8
- 1.1
- 2 .8
- 2 .0
-4.0
-3.2
-9.6
- 1 .8
-3.9
-0.3
-0.5
-1.3
1.1
-4.3
- 1 .2
1 .8
-0.4
- 1 .2
- 1 .0
-0.9
- 2 .8
-3.9
-5.4
-4.0
-1.7
-4.9
-4.6
-1.3
-2.9
- 1.1
-1.4
0.5
-7.2
- 2.1
-3.2
- 0 .8
-2.4
-3.8
-0.9
0 .0
2.1
- 1 .6
3.2
2.5
3.1
1 .8
3.3
2.3
2.3
0.1
2 .6
1.5
1 .8
3.2
3.9
3.7
-1.5
0 .6
4.2
3.0
3.9
3.5
0 .6
3.4
1 .0
- 0 .1
1.5
4.3
3.3
2 .0
2.4
2 .0
1.9
2.4
2 .2
2 .0
2.3
3.7
3.9
2.5
3.0
1 .8
2.4
4.2
0.7
3.3
6.9
2 .2
2.4
1 .2
3.5
2 .6
1 .8
2.4
1.5
3.4
4.1
1 .6
1.5
3.8
1 .0
0.5
- 0 .1
2.9
2.4
0 .8
3.0
4.4
0 .1
1.5
2.4
1.9
6 .1
0 .8
1.9
1.4
- 0 .1
1.1
3.9
1.4
February 2012
S urvey
of
D-83
C u r r e n t B u s in e s s
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2008-2010— Continues
Personal income
Area
Oxnard-Thousand Oaks-Ventura, C A ............................
Palm Bay-Melbourne-Titusville, F L .................................
Palm Coast, FL...................................................................
Panama City-Lynn Haven-Panama City Beach, FL
Parkersburg-Marietta-Vienna, W V-OH...........................
Pascagoula, M S ................................................................
Pensacola-Ferry Pass-Brent, FL
Peoria, IL .............................................
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD........
Phoenix-Mesa-Glendale, A Z .............
Pine Bluff, A R ......................................
Pittsburgh, PA......................................
Pittsfield, M A ......................................
Pocatello, ID ........................................
Portland-South Portland-Biddeford, M E .........................
Portland-Vancouver-Hillsboro, OR-WA
Port St. Lucie, FL................................
Poughkeepsie-Newburgh-Middletown, N Y .....................
Prescott, A Z .......................................
Providence-New Bedford-Fall River, RI-M A ..................
Provo-Orem, U T ................................................................
Pueblo, CO....
Punta Gorda, FL................................................................
Racine, Wl...
Raleigh-Cary, NC
Rapid City, SD
Reading, PA...
Redding, CA.................................................................
Reno-Sparks, N V ..............................................................
Richmond, VA.....................................................................
Riverside-San Bernardino-Ontario, C A ..........................
Roanoke, V A ......................................................................
Rochester, M N ...................................................................
Rochester, N Y ....................................................................
Rockford, IL ........................................................................
Rocky Mount, N C ..............................................................
Rome, G A ..........................................................................
Sacramento-Arden-Arcade-Roseville, C A......................
Saginaw-Saginaw Township North, M l...........................
St. Cloud, M N.....................................................................
St. George, U T ...................................................................
St. Joseph, M O -KS...........................................................
St. Louis, M O -IL.................................................................
Salem, OR..........................................................................
Salinas, C A ........................................................................
Salisbury, M D .....................................................................
Salt Lake City, UT..............................................................
San Angelo, T X ..................................................................
San Antonio-New Braunfels, TX ......................................
San Diego-Carlsbad-San Marcos, C A ...........................
Sandusky, O H ....................................................................
San Francisco-Oakland-Fremont, C A ............................
San Jose-Sunnyvale-Santa Clara, C A ...........................
San Luis Obispo-Paso Robles, CA..................................
Santa Barbara-Santa Maria-Goleta, CA.........................
Santa Cruz-Watsonville, C A .............................................
Santa Fe, NM
Santa Rosa-Petaluma, C A ...............................................
Savannah, GA
Scranton-Wilkes-Barre, PA...............................................
Seattle-Tacoma-Bellevue, W A.........................................
Sebastian-Vero Beach, F L ...............................................
Sheboygan, W l...................................................................
Sherman-Demson, T X .....................................................
Shreveport-Bossier City, L A .............................................
Sioux City, IA-NE-SD.........................................................
Sioux Falls, SD
South Bend-Mishawaka, IN-MI........................................
Spartanburg, SC
Spokane, WA
Springfield, IL
Springfield, MA...................................................................
Springfield, M O ..................................................................
Springfield, O H...................................................................
State College, PA ..............................................................
Steubenville-Weirton, OH-WV..........................................
Stockton, C A ......................................................................
See footnotes at end of table.
Percent change from
preceding period 1
Millions of dollars
2008
2009
37,458
20,176
2,976
5,966
5,074
5,233
15,301
15,262
277,421
155,067
2,940
100,276
5,608
2,573
21,653
88,978
16,590
26,838
6,468
65,937
13,157
4,840
5,746
7,425
43,320
4,672
14,850
6,207
18,724
52,001
125,025
11,595
7,823
40,693
11,600
4,645
3,087
86,876
6,051
6,460
3,658
4,006
119,122
12,717
17,243
3,950
42,854
3,928
74,218
141,971
2,844
265,954
105,652
10,896
19,365
12,962
6,457
22,078
13,220
19,716
173,322
8,008
4,411
3,804
15,070
5,082
9,433
11,363
8,775
16,094
8,356
26,450
13,703
4,546
4,928
3,824
36,863
20,089
2,993
5,984
5,128
5,277
15,438
14,966
274,986
150,352
2,975
99,611
5,537
2,574
21,403
87,894
16,076
26,454
6,284
65,353
13,026
4,970
5,628
7,364
42,789
4,657
14,793
6,170
17,773
50,966
122,969
11,512
7,836
40,424
11,308
4,682
3,065
85,746
6,029
6,350
3,595
4,074
115,220
12,802
17,127
3,984
42,386
3,952
75,186
139,577
2,789
259,043
101,495
10,706
18,955
12,592
6,292
21,142
13,157
19,865
171,681
7,610
4,328
3,849
15,018
5,012
9,466
10,859
8,674
16,216
8,425
26,480
13,683
4,557
4,972
3,829
20,969
2 1 ,1 2 2
Per capita personal income
2010 P
2009
2010
P
37,670
20,560
3,071
- 1 .6
-0.4
0 .6
2 .6
6 ,2 2 1
0.3
4.0
2.5
2.4
5,257
5,402
15,878
15,284
281,517
152,810
3,069
103,039
5,616
2,639
21,941
90,654
16,336
27,256
6,377
67,143
13,393
5,147
5,738
7,602
44,467
4,807
15,187
6,292
17,753
52,231
125,756
11,634
8,310
41,603
11,650
4,804
3,148
86,943
6,214
6,470
3,649
4,122
117,421
13,096
17,574
4,056
43,594
4,136
78,416
143,109
2,895
265,969
108,280
10,872
19,262
12,981
6,431
21,731
13,564
20,397
176,085
7,629
4,455
3,974
15,629
5,172
9,621
11,169
8,959
16,577
8,691
27,055
13,968
4,659
5,179
3,860
21,464
1.1
0 .8
2 .2
2.3
0.9
-1.9
-0.9
-3.0
2 .8
2.1
1 .2
3.2
3.4
1.4
2.5
2.5
3.1
-0.7
-1.3
0 .0
- 1 .2
- 1 .2
-3.1
-1.4
- 2 .8
-0.9
- 1 .0
2.7
- 2 .1
- 0 .8
- 1 .2
-0.3
-0.4
- 0 .6
-5.1
- 2 .0
- 1 .6
-0.7
2.4
1 .6
1 .6
3.0
1.5
2.7
2 .8
3.6
2 .0
3.2
3.9
3.2
2.7
2 .0
- 0.1
2.5
2.3
0 .2
1.1
6 .0
-0.7
-2.5
2.9
3.0
0 .8
2 .6
-0.7
-1.3
-0.4
-1.7
-1.7
1.7
-3.3
0.7
-0.7
0.9
- 1.1
2.7
1.4
3.1
1.9
1.5
0 .6
1.3
-1.7
-1.9
- 2 .6
-3.9
-1.7
- 2.1
-2.9
- 2 .6
-4.2
-0.5
0 .8
-0.9
-5.0
-1.9
1 .2
-0.3
-1.4
0.3
-4.4
- 1 .2
-
0 .8
0 .8
0.1
0.1
0.3
0.9
Rank in
United
States
Dollars
1 .2
1.9
2.3
2 .6
1 .8
2 .8
4.6
4.3
2.5
3.8
2.7
6.7
1.5
1 .6
3.1
2 .2
2 .8
3.1
2.7
2 .6
0.3
2.9
3.3
4.1
3.2
1 .6
2.9
3.3
2 .2
3.2
2 .2
2.1
2 .2
4.2
0.1
0 .8
-0.7
2.4
2008
46,454
37,199
31,817
35,880
31,268
32,710
34,354
40,594
46,965
37,763
29,020
42,548
42,691
29,186
42,110
40,950
39,734
40,268
30,624
41,173
26,439
30,877
35,811
38,129
40,217
37,969
36,419
35,021
44,700
41,992
30,394
37,942
42,706
38,757
33,148
30,733
32,184
41,206
29,959
34,635
26,989
31,772
42,652
33,111
42,468
31,965
39,291
35,968
36,006
46,977
36,662
62,667
58,852
40,906
46,566
50,532
45,570
46,667
39,441
35,110
51,660
58,763
38,144
32,011
38,408
35,970
42,514
35,512
31,377
34,816
40,197
38,264
31,920
32,607
32,494
30,605
31,446
2009
45,224
37,056
31,609
35,731
31,617
32,687
34,570
39,450
46,282
36,198
29,571
42,290
42,182
28,720
41,581
39,830
38,291
39,545
29,757
40,821
25,293
31,488
35,257
37,738
38,547
37,213
36,090
34,802
42,136
40,758
29,555
37,399
42,317
38,403
32,331
30,855
31,796
40,206
30,019
33,755
26,221
32,077
41,084
32,967
41,746
32,005
38,191
35,779
35,707
45,596
36,179
60,203
55,780
39,928
45,092
48,429
43,934
44,095
38,245
35,289
50,276
55,543
37,456
32,055
38,034
35,136
41,901
34,020
30,614
34,632
40,328
38,262
31,511
32,837
32,486
30,695
30,939
2010 P
45,622
37,824
32,009
36,752
32,458
33,269
35,283
40,326
47,144
36,286
30,642
43,728
42,827
29,021
42,695
40,590
38,429
40,624
30,213
41,925
25,256
32,277
35,865
38,881
39,090
37,913
36,876
35,491
41,621
41,437
29,619
37,678
44,605
39,455
33,353
31,504
32,696
40,356
31,082
34,179
26,355
32,365
41,715
33,431
42,176
32,361
38,613
36,832
36,404
46,075
37,562
61,208
58,744
40,249
45,353
49,346
44,473
44,796
38,899
36,201
51,053
55,179
38,577
32,807
39,092
35,930
41,983
34,995
31,465
35,109
41,286
39,033
31,932
33,716
33,604
31,068
31,209
Percent change from
preceding period
2009
2010p
31
134
286
155
274
253
194
75
23
167
322
41
47
345
48
73
122
72
330
59
363
283
181
111
104
130
152
192
62
65
338
138
36
90
251
297
267
74
309
224
361
279
61
247
56
280
114
153
164
28
140
2
4
78
32
17
37
34
110
173
14
8
118
264
103
178
57
205
301
199
68
107
289
237
239
311
308
2010p
- 2 .6
-0.4
-0.7
-0.4
1.1
- 0 .1
0 .6
- 2 .8
-1.5
-4.1
1.9
- 0 .6
- 1 .2
- 1 .6
-1.3
-2.7
-3.6
- 1 .8
- 2 .8
-0.9
-4.3
2 .0
-1.5
- 1 .0
-4.2
- 2 .0
-0.9
- 0 .6
-5.7
-2.9
- 2 .8
-1.4
-0.9
-0.9
-2.5
0.4
- 1 .2
-2.4
0 .2
-2.5
- 2 .8
1 .0
-3.7
-0.4
-1.7
0.1
- 2 .8
-0.5
- 0 .8
-2.9
-1.3
-3.9
-5.2
-2.4
-3.2
-A 2
-3.6
-5.5
-3.0
0.5
-2.7
-5.5
- 1 .8
0.1
- 1 .0
-2.3
-1.4
-4.2
-2.4
-0.5
0.3
0.9
2 .1
1.3
2.9
2.7
1 .8
2.1
2 .2
1.9
0 .2
3.6
3.4
1.5
1 .0
2.7
1.9
0.4
2.7
1.5
2.7
- 0 .1
2.5
1.7
3.0
1.4
1.9
2 .2
2 .0
- 1 .2
1.7
0 .2
0.7
5.4
2.7
3.2
2.1
2 .8
0.4
3.5
1.3
0.5
0.9
1.5
1.4
1 .0
1.1
1.1
2.9
2 .0
1.1
3.8
1.7
5.3
0 .8
0 .6
1.9
1 .2
1 .6
1.7
2 .6
1.5
-0.7
3.0
2.3
2 .8
2.3
0 .2
2.9
2 .8
1.4
2.4
0 .0
2 .0
-1.3
0.7
1.3
2.7
3.4
0 .0
-
0.3
1 .2
1 .6
0.9
D-84
Regional Data
February 2012
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2008-2010— Table Ends
Personal income
Area
Sumter, S C .........................................................................
Syracuse, N Y .....................................................................
Tallahassee, F L ..................................................................
Tampa-St. Petersburg-Clearwater, F L ............................
Terre Haute, IN ...................................................................
Texarkana, TX-Texarkana, A R ..........................................
Toledo, O H...........................................................................
Topeka, KS ...
Trenton-Ewing, NJ
Tucson, A Z ..
Tulsa, O K ....
Tuscaloosa, AL
Tyler, T X .....
Utica-Rome, N Y .................................................................
Valdosta, GA
......
Vallejo-Fairfield, C A ...........................................................
Victoria, TX...
........
Vineland-Millville-Bridgeton, N J ......................................
Virginia Beach-Norfolk-Newport News, VA-NC.............
Visalia-Porterville, CA........................................................
Waco, T X .............................................................................
Warner Robins, G A ...........................................................
Washington-Arlington-Alexandria, DC-VA-MD-WV......
Waterloo-Cedar Falls, IA ..................................................
Wausau, W l........................................................................
Wenatchee-East Wenatchee, W A ...................................
Wheeling, W V-OH.............................................................
Wichita, KS.........................................................................
Wichita Falls, TX.................................................................
Williamsport, PA................................................................
Wilmington, NC
Winchester, VA-WV
Winston-Salem, NC
Worcester, MA
Yakima, W A .
York-Hanover, PA
Youngstown-Warren-Boardman, OH-PA.........................
Yuba City, CA......................................................................
Yuma, A Z .............................................................................
Percent change from
preceding period’
Millions of dollars
2008
2009
3,082
23,677
12,217
104,955
5,095
4,523
22,572
8,404
19,673
34,918
38,585
7,106
7,888
9,628
3,960
15,919
4,310
4,972
66,458
12,018
7,369
4,433
310,761
5,984
4,813
3,631
4,682
24,293
5,735
3,672
12,061
4,240
17,470
34,193
7,428
15,460
18,142
5,096
4,868
3,078
23,797
12,180
103,386
5,106
4,553
22,303
8,487
19,024
34,516
37,534
7,066
7,843
9,757
3,963
15,866
4,201
5,028
66,173
11,911
7,530
4,494
312,059
5,999
4,746
3,661
4,674
23,855
5,632
3,727
12,041
4,227
16,970
33,773
7,474
15,427
17,851
5,178
4,994
Per capita personal income
2010p
3,206
24,451
12,467
105,596
5,316
4,720
22,848
8,660
19,617
35,172
38,347
7,329
8,095
10,070
4,063
16,158
4,418
5,136
67,473
12,555
7,888
4,644
323,536
6,143
4,831
3,768
4,793
24,098
5,740
3,901
12,392
4,371
17,447
34,921
7,712
15,875
18,474
5,309
5,196
2009
2010
- 0 .1
0.5
-0.3
-1.5
P
4.2
2.7
2.4
2.1
- 1 .2
4.1
3.7
2.4
1 .0
2 .0
-3.3
- 1.1
-2.7
- 0 .6
- 0 .6
1.3
3.1
1.9
0 .2
0.7
0.1
-0.3
-2.5
1.1
-0.4
-0.9
2 .2
1.4
0.4
0 .2
2 .2
3.7
3.2
3.2
2.5
1 .8
5.2
2.1
2 .0
5.4
4.8
3.3
3.7
2.4
-1.4
1 .8
0 .8
2.9
2.5
- 0 .2
- 1 .8
- 1 .8
1.5
- 0 .2
-0.3
-2.9
- 1 .2
0 .6
- 0 .2
- 1 .6
1 .6
2 .6
1 .0
1.9
4.7
2.9
3.4
2 .8
3.4
3.2
2.9
3.5
2.5
4.0
Rank in
United
States
Dollars
2008
28,948
35,933
33,819
38,207
29,628
33,655
34,540
36,339
54,028
36,081
42,100
33,252
38,806
32,213
29,350
38,924
37,790
31,928
40,096
27,996
32,176
32,858
57,638
36,110
36,179
33,610
31,619
39,874
38,160
31,614
34,311
33,726
37,118
43,236
31,571
36,005
31,775
30,766
25,461
2009
28,768
36,010
33,399
37,405
29,655
33,600
34,195
36,497
52,066
35,380
40,367
32,414
37,867
32,633
28,766
38,670
36,476
32,124
39,783
27,256
32,502
32,704
56,797
35,873
35,470
33,397
31,603
38,518
37,354
32,108
33,673
33,198
35,706
42,468
31,193
35,627
31,420
31,198
25,783
2010p
29,807
36,893
33,869
37,860
30,828
34,639
35,096
36,969
53,484
35,811
40,793
33,355
38,452
33,640
28,998
38,999
38,263
32,681
40,284
28,298
33,421
33,005
57,671
36,573
36,026
33,851
32,418
38,610
37,893
33,586
34,067
33,948
36,467
43,675
31,545
36,453
32,709
31,754
26,441
2010
Percent change from
preceding period
P
2009
337
151
233
132
319
214
200
149
11
182
70
250
121
238
347
109
125
269
76
351
248
261
5
158
175
234
276
115
131
240
229
232
161
42
296
162
266
294
360
2010p
- 0 .6
0 .2
- 1 .2
- 2 .1
0 .1
- 0 .2
- 1 .0
0.4
-3.6
-1.9
^ .1
-2.5
-2.4
1.3
- 2 .0
-0.7
-3.5
-
0 .6
0 .8
2 .6
1 .0
-0.5
-1.5
-0.7
- 2 .0
- 0 .6
- 0 .1
-3.4
- 2.1
1 .6
-1.9
- 1 .6
-3.8
- 1 .8
- 1 .2
- 1 .0
- 1.1
1.4
1.3
p Preliminary
definitions issued by the Office of Management and Budget as of December 2009, for federal statistical
1. Percent change calculated from unrounded data.
purposes.
2. The metropolitan area definitions used by BEA for its personal income estimates are the county-based
3.6
2.5
1.4
1 .2
4.0
3.1
2 .6
1.3
2.7
1 .2
1.1
2.9
1.5
3.1
0 .8
0.9
4.9
1.7
1.3
3.8
2 .8
0.9
1.5
2 .0
1 .6
1.4
2 .6
0 .2
1.4
4.6
1 .2
2.3
2.1
2 .8
1.1
2.3
4.1
1 .8
2 .6
February 2012
Survey
of
D-85
C u r r e n t B u s in e s s
Table J.2. Gross Domestic Product by Metropolitan Area for Industries, 2010-C ontinues
[M illions of dollars]
Metropolitan area
U.S. metropolitan portion........................................
Abilene, TX..................................................................
Akron, O H ...................................................................
Albany, G A ..................................................................
Albany-Schenectady-Troy, NY....................................
Albuquerque, NM
Alexandria, LA.............................................................
Allentown-Bethlehem-Easton, PA-NJ.........................
Altoona, PA
Amarillo, TX
Ames, IA
Anchorage, AK............................................................
Anderson, IN...............................................................
Anderson, SC
Ann Arbor, Ml
Anniston-Oxford, AL....................................................
Appleton, W l...............................................................
Asheville, NC...............................................................
Athens-Clarke County, GA.........................................
Atlanta-Sandy Springs-Marietta, GA..........................
Atlantic City-Hammonton, NJ.....................................
Auburn-Opelika, AL.....................................................
Augusta-Richmond County, GA-SC...........................
Austin-Round Rock-San Marcos, T X .........................
Bakersfield-Delano, CA...............................................
Baltimore-Towson, MD...............................................
Bangor, ME
Barnstable Town, MA..................................................
Baton Rouge, LA.........................................................
Battle Creek, Ml
Bay City, Ml
Beaumont-Port Arthur, TX..........................................
Bellingham, WA...........................................................
Bend, OR
Billings, MT..................................................................
Binghamton, NY
Birmingham-Hoover, AL.............................................
Bismarck, ND..............................................................
Blacksburg-Christiansburg-Radford, VA.....................
Bloomington, IN ..........................................................
Bloomington-Normal, IL ..............................................
Boise City-Nampa, ID .................................................
Boston-Cambridge-Quincy, MA-NH...........................
Boulder, CO
Bowling Green, KY......................................................
Bremerton-Silverdale, WA..........................................
Bridgeport-Stamford-Norwalk, CT..............................
Brownsville-Harlingen, TX..........................................
Brunswick, GA
Buffalo-Niagara Falls, NY...........................................
Burlington, NC
Burlington-South Burlington, V T ................................
Canton-Massillon, OH................................................
Cape Coral-Fort Myers, F L ........................................
Cape Girardeau-Jackson, MO-IL...............................
Carson City, NV
Casper, WY
Cedar Rapids, IA.........................................................
Champaign-Urbana, IL...............................................
Charleston, WV..........................................................
Charleston-North Charleston-Summerville, SC.........
Charlotte-Gastonia-Rock Hill, NC-SC........................
Charlottesville, VA......................................................
Chattanooga, TN-GA.................................................
Cheyenne, WY
Chicago-Joliet-NaperviIle, IL-IN-WI............................
Chico, CA...................................................................
Cincinnati-Middletown, OH-KY-IN..............................
Clarksville, TN-KY
Cleveland, TN.............................................................
Cleveland-Elyria-Mentor, O H .....................................
Coeur d’Alene, ID.......................................................
College Station-Bryan, T X .........................................
Colorado Springs, CO................................................
Columbia, MO
Columbia, SC
Columbus, GA-AL......................................................
Columbus, IN .............................................................
Columbus, OH............................................................
Corpus Christi, T X .....................................................
Corvallis, OR
Crestview-Fort Walton Beach-Destin, FL...................
Cumberland, MD-WV..................................................
Dallas-Fort Worth-Arlington, TX.................................
Dalton, G A ..................................................................
Danville, IL
Danville, VA
Davenport-Moline-Rock Island, IA-IL.........................
Dayton, O H.................................................................
Decatur, A L .................................................................
Decatur, IL...................................................................
Deltona-Daytona Beach-Ormond Beach, FL
Rank of total
GDP by
metropolitan
area
258
78
277
56
60
274
70
304
178
320
79
347
283
108
327
174
141
232
10
146
333
107
35
73
19
253
199
59
267
357
123
202
237
216
201
50
276
263
227
188
87
9
110
290
193
36
207
350
54
300
164
148
98
343
359
220
135
192
126
76
24
184
95
261
3
231
30
169
339
27
303
225
83
221
69
154
299
31
122
296
182
362
6
260
364
356
117
65
279
257
151
Total
13,071,502
5,420
27,586
4,943
41,066
38,080
5,014
29,971
4,264
9,700
3,871
27,038
3,255
4,806
18,566
3,734
10,046
13,909
6,268
272,362
13,132
3,638
19,199
86,029
29,446
144,789
5,518
8,461
39,400
5,160
2,907
16,472
8,236
6,081
7,071
8,253
53,834
4,975
5,285
6,482
9,413
25,514
313,690
18,298
4,612
8,860
84,882
7,742
3,175
45,150
4,413
10,731
12,856
20,326
3,371
2,802
6,805
14,393
8,869
15,375
27,976
113,568
9,478
21 ,2 1 1
5,323
532,331
6,364
100,594
10,392
3,551
105,625
4,281
6,712
26,461
6,796
31,967
11,877
4,421
93,353
16,565
4,480
9,482
2,636
374,081
5,345
2,381
2,957
17,530
33,371
4,882
5,439
12,250
Durable- NondurableNatural
goods
goods
resources Con
struction manu
manu
and
facturing
facturing
mining
280,301 449,925
216
(D)
143
773
216
(D)
1,711
(D)
1,627
(D)
145
295
157
1,025
76
136
702
398
1 02
123
1,229
5,916
82
70
70
248
41
304
24
71
571
209
137
(D)
178
(D)
450
(D)
535
136
30
127
983
(D)
3,134
(D)
7,633
1,162
5,718
328
177
89
469
45
889
3,105
71
130
67
80
285
1,488
221
452
57
304
370
(D)
46
360
2,262
(D)
211
95
13
(D)
97
183
241
249
1,174
515
507
8,723
250
396
204
(D)
304
48
75
(D)
107
204
141
(D)
185
1,563
24
196
111
(D)
406
153
1,450
99
44
133
(D)
(D)
(D)
215
242
496
284
320
1,910
678
1 ,2 0 2
(D)
360
3,564
373
(D)
668
(D)
278
180
1,300 16,556
377
283
293
(D)
110
238
77
(D)
2,361
(D)
109
248
294
(D)
(D)
(D)
218
49
247
1 ,2 1 0
374
50
96
46
2,183
(D)
1,274
1,615
66
76
15
329
31
105
20,553
(D)
72
24
146
40
49
105
242
605
260
755
107
251
279
95
613
89
833,541
(D)
2,664
(D)
(D)
(D)
(D)
(D)
262
(D)
164
126
418
952
1,488
509
850
(D)
321
(D)
117
(D)
(D)
(D)
577
(D)
195
118
(D)
815
198
(D)
492
282
88
(D)
(D)
77
(D)
(D)
219
(D)
(D)
1,763
(D)
(D)
4,736
327
(D)
(D)
440
(D)
(D)
298
(D)
236
119
1,932
(D)
454
(D)
(D)
373
(D)
51
(D)
1 20
(D)
(D)
526
(D)
240
(D)
(D)
301
(D)
(D)
1,920
(D)
(D)
(D)
400
(D)
(D)
125
259
232
(D)
2,966
(D)
697
606
Trade
632,276 1,500,516
755
(D)
2,028
4,245
(D)
(D)
(D)
(D)
4,117
(D)
(D)
(D)
(D)
(D)
468
663
(D)
(D)
480
368
210
1,963
364
386
522
692
432
1,791
114
540
1,420
1,347
(D)
(D)
632
674
(D)
(D)
123
1,399
413
(D)
(D)
(D)
12,728
(D)
2,177
2,899
15,979
(D)
277
929
63
981
(D)
(D)
713
572
230
404
1,769
(D)
1,683
1,1 0 2
72
660
652
1,144
1,031
(D)
(D)
(D)
238
679
(D)
(D)
(D)
(D)
178
758
(D)
(D)
28,619
(D)
958
1,765
495
(D)
827
(D)
3,264
8,252
158
987
345
(D)
5,474
(D)
511
585
(D)
(D)
1,801
(D)
91
2,756
447
(D)
36
275
206
858
1,099
1,506
901
(D)
688
(D)
(D)
(D)
12,412
(D)
152
(D)
(D)
(D)
477
781
(D)
(D)
176
815
(D)
(D)
(D)
(D)
560
(D)
(D)
(D)
40
610
728
(D)
292
2,280
132
782
(D)
(D)
(D)
(D)
219
382
(D)
(D)
(D)
(D)
(D)
(D)
12
781
287
(D)
47,136
(D)
2,346
(D)
314
372
627
376
2,486
(D)
1,319
3,447
540
(D)
1,157
610
1,824
125
Transpor
tation and
utilities
Infor
mation
Financial
activities
Pro
fessional Education Leisure
Other Government
and
and health
and
services
business services hospitality
services
586,713 645,518 2,922,731 1,690,885 1,151,802
237
587
719
306
(D)
4,017
1,361
700
4,136
2,936
209
443
431
601
(D)
7,199
4,830
1,435
(D)
(D)
(D)
(D)
(D)
(D)
(D)
766
(D)
81
611
409
4,317
3,950
4,203
1,171
(D)
107
443
322
633
328
667
983
294
845
(D)
604
237
78
64
248
2,951
877
3,730
2,389
1,880
167
419
180
399
75
149
427
318
53
243
875
707
2,843
2,555
1,556
239
347
283
165
110
334
866
338
1,966
809
2,383
1,041
1,917
563
281
849
393
(D)
(D)
(D)
19,554
17,229
58,563
41,110
(D)
639
172
2,229
898
1,305
200
159
58
580
226
1,761
329
(D)
(D)
(D)
5,786
1,596
5,154
13,231
(D)
2,579
1,558
1,808
408
2,225
6,577
4,692
30,835
16,280
20,846
341
973
139
766
406
326
197
2,048
823
1,145
2 ,1 0 0
5,303
2,734
3,720
(D)
508
200
49
418
595
367
232
64
339
279
904
207
1,072
1,464
1,209
261
167
1,038
562
625
212
1,869
756
210
546
1,129
915
469
191
(D)
428
925
564
980
205
11,458
5,432
1,859
(D)
(D)
728
338
112
919
497
152
84
658
393
351
604
828
530
(D)
(D)
3,712
646
258
135
1 ,6 6 6
1,199
5,290
3,180
2,413
(D)
8,503
17,582
84,781
38,493
57,218
239
2,480
3,732
1,400
2,108
143
107
621
520
458
159
1,156
684
790
156
5,532
4,147
34,206
12,456
(D)
1,397
378
237
858
508
419
239
(D)
(D)
(D)
4,957
1,690
1,071
7,649
5,673
119
66
606
479
648
326
2,017
1,151
(D)
(D)
1,754
521
2,159
912
269
698
5,473
1,913
1,619
1,178
212
670
135
358
236
524
113
193
208
43
438
61
775
268
(D)
1,054
1,125
752
3,616
868
333
1,565
1,018
(D)
606
1,499
899
1,528
(D)
(D)
2,141
4,969
3,427
751
(D)
5,271
5,850
39,608
14,133
5,714
1,804
404
(D)
(D)
(D)
512
(D)
(D)
(D)
(D)
533
664
285
159
235
44,429
25,556
135,765
82,755
(D)
902
340
136
1,366
439
4,642
20,457
15,880
9,331
(D)
532
252
852
569
(D)
614
37
224
(D)
(D)
26,194
13,141
11,239
2,951
(D)
1 02
993
392
389
159
174
686
209
(D)
(D)
682
1,284
3,852
3,868
1,943
1,172
792
158
150
565
2,467
1,917
3,153
(D)
(D)
260
1,760
984
960
(D)
141
53
486
303
244
23,592
3,271
(D)
(D)
(D)
1,567
1,549
318
1,370
(D)
394
346
387
142
(D)
497
199
279
2,345
965
154
426
210
147
99
77,784
47,514
24,932
18,500
(D)
292
250
447
316
(D)
234
197
117
144
32
107
323
160
318
39
1,082
1,547
395
2,663
2,215
4,144
1,596
1,670
5,473
3,927
180
322
287
275
(D)
523
568
86
505
268
313
2,658
1,045
1,799
326
477,039 300,078
198
157
777
643
142
(D)
1,226
1,034
930
(D)
127
139
985
790
133
125
322
(D)
107
67
758
471
188
101
158
156
465
342
118
106
258
255
739
399
157
(D)
9,133
5,465
3,279
290
155
120
471
(D)
3,220
2,198
666
793
4,792
3,586
197
128
774
316
1,029
852
127
125
144
93
448
371
300
213
303
167
294
164
284
216
1,357
1,498
165
141
168
135
(D)
(D)
290
190
735
475
10,479
6,125
593
425
171
102
280
199
1,974
1,394
360
239
96
(D)
1,942
1,055
180
144
398
208
405
431
1,242
611
1 12
94
184
61
158
161
332
273
299
(D)
401
315
1,350
686
3,462
1,726
418
303
765
683
148
89
18,322
(D)
210
266
3,577
(D)
248
(D)
102
116
3,141
2,125
246
97
287
194
1,069
709
167
260
892
(D)
399
(D)
94
67
2,792
2 ,0 2 1
628
392
77
90
373
213
1 00
90
12,778
(D)
104
1 00
57
69
88
132
595
390
938
773
117
(D)
138
123
768
476
1,600,175
1,282
3,162
1,036
8,398
6,912
945
2,984
568
1,289
1,228
4,540
407
818
5,168
1,107
822
1 ,8 6 6
1,696
24,950
2 ,0 1 0
1,065
4,678
1 2,1 01
4,963
25,150
900
1,156
4,530
837
409
1,755
1,119
643
713
1,482
5,984
776
1,311
1,373
870
2,993
24,855
2,188
644
4,100
4,687
1,982
812
6,913
415
1,557
1,286
2,897
409
838
449
1,096
2,287
2 ,1 0 2
5,798
8,477
2,540
2,815
1,442
46,188
935
9,176
5,342
360
10,517
657
2,104
7,855
2,050
7,041
3,922
370
11,611
2,904
830
3,076
559
29,763
437
400
401
2,164
6 ,1 0 2
554
389
1,610
D-86
Regional Data
February 2012
Table J.2. Gross Domestic Product by Metropolitan Area for Industries, 2010—Continues
[M illions of dollars]
Metropolitan area
Denver-Aurora-Broomfield, CO...................................
Des Moines-West Des Moines, IA ..............................
Detroit-Warren-Livonia, M l..........................................
Dothan, AL...................................................................
Dover, DE.
Dubuque, IA.................................................................
Duluth, MN-WI
Durham-Chapel Hill, NC.............................................
Eau Claire, W l..............................................................
El Centro, CA...............................................................
Elizabethtown, KY........................................................
Elkhart-Goshen, IN......................................................
Elmira, NY
El Paso, TX
Erie, PA....
Eugene-Springfield, OR...............................................
Evansville, IN-KY
Fairbanks, AK...............................................................
Fargo, ND-MN..............................................................
Farmington, NM...........................................................
Fayetteville, NC............................................................
Fayettevill e-Springdale-Rogers, AR-MO.....................
Flagstaff, AZ..................................
Flint, M l........................................................................
Florence, SC
Florence-Muscle Shoals, AL.......................................
Fond du Lac, W l...........................................................
Fort Collins-Loveland, CO............................................
Fort Smith, AR-OK.......................................................
Fort Wayne, IN.............................................................
Fresno, CA...................................................................
Gadsden, AL................................................................
Gainesville, FL.............................................................
Gainesville, G A............................................................
Glens Falls, NY............................................................
Goldsboro, NC
Grand Forks. ND-MN..............................................
Grand Junction, CO.....................................................
Grand Rapids-Wyoming, Ml........................................
Great Falls, M T ............................................................
Greeley, C O .................................................................
Green Bay, W l..............................................................
Greensboro-High Point, NC.........................................
Greenville, NC..................
Greenville-Mauldin-Easley, SC
Gulfport-Biloxi, MS...........
Hagerstown-Martinsburg, MD-WV..............................
Hanford-Corcoran, CA
Harrisburg-Carlisle, PA
Harrisonburg, VA..........................................................
Hartford-West Hartford-East Hartford, C T..................
Hattiesburg, MS....
Hickory-Lenoir-Morganton, NC...................................
Hinesville-Fort Stewart, G A ........................................
Holland-Grand Haven, M l............................................
Honolulu, HI
Hot Springs, AR...........................................................
Houma-Bayou Cane-Thibodaux, LA ...........................
Houston-Sugar Land-Baytown, TX .............................
Huntington-Ashland, WV-KY-OH....
Huntsville, AL...............................................................
Idaho Falls, ID
Indianapolis-Carmel, IN ..............................................
Iowa City, IA .................................................................
Ithaca, NY....................................................................
Jackson,Ml..................................................................
Jackson, MS
Jackson, TN.................................................................
Jacksonville, FL............................................................
Jacksonville, NC...........................................................
Janesville, W l...............................................................
Jefferson City, MO........................................................
Johnson City, TN..........................................................
Johnstown, PA.............................................................
Jonesboro, AR.............................................................
Joplin, MO
Kalamazoo-Portage, M l...............................................
Kankakee-Bradley, IL...................................................
Kansas City, MO-KS...............................................
Kennewick-Pasco-Richland, WA..................................
Killeen-Temple-Fort Hood, TX......................................
Kingsport-Bristol-Bristol, TN-VA...................................
Kingston, NY................................................................
Knoxville, TN................................................................
Kokomo, IN...........................................................
La Crosse, WI-MN.................................................
Lafayette, IN..........................................................
Lafayette, LA................................................................
Lake Charles, LA
Lake Havasu City-Kingman, AZ..................................
Lakeland-Winter Haven, F L ........................................
Rank of total
GDP by
metropolitan
area
18
58
14
291
244
298
176
61
229
286
266
181
358
80
187
161
118
270
162
262
116
112
288
157
215
311
325
156
173
109
72
361
168
228
317
313
318
285
66
354
212
128
64
226
85
171
206
310
75
233
34
282
158
338
191
51
363
167
5
163
97
316
28
209
314
272
88
292
46
198
281
239
243
312
306
250
152
352
26
170
129
177
287
71
329
251
203
114
155
336
12 0
Total
157,567
39,465
197,773
4,606
5,833
4,438
9,763
37,986
6,398
4,759
5,228
9,515
2,898
27,025
9,428
11,252
17,368
5,112
11,053
5,322
17,654
18,249
4,683
11,511
7,135
4,111
3,762
11,552
10,185
18,422
29,515
2,640
10,433
6,443
3,957
4,005
3,943
4,786
33,361
3,035
7,341
15,270
34,652
6,568
26,101
10,288
7,790
4,133
28,708
6 ,211
87,963
4,810
11,405
3,562
8,997
51,327
2,566
10,534
384,603
10,882
20,900
3,970
105,163
7,550
4,000
5,034
24,379
4,604
60,303
8,462
4,835
5,998
5,845
4,092
4,205
5,739
12,162
3,150
105,968
10,370
15,267
9,755
4,755
29,863
3,689
5,701
8,109
18,057
11,780
3,595
16,723
Natural
Con
resources
struction
and mining
7,391
314
392
95
103
58
501
1 20
133
1,167
(D)
61
20
106
80
191
(D)
(D)
397
(D)
(D)
163
37
42
52
115
160
170
1,181
(D)
3,152
20
60
35
57
118
185
573
(D)
51
966
(D)
116
(D)
59
57
72
671
268
275
140
86
113
8
196
120
47
1,843
(D)
326
144
220
438
154
102
35
790
106
215
88
141
(D)
7
78
286
70
186
115
(D)
728
74
111
62
106
74
39
245
(D)
426
(D)
555
5,108
1,185
5,844
201
186
152
427
614
231
86
129
241
129
991
240
438
816
283
426
296
427
577
193
334
237
210
199
622
335
655
1,126
82
381
280
211
120
157
271
1,050
175
536
483
1,050
209
1,041
440
(D)
83
808
256
2,008
173
321
48
291
2,554
109
474
17,536
(D)
519
257
(D)
187
77
108
872
(D)
2,745
188
163
244
149
115
135
130
371
105
3,389
530
430
352
176
(D)
72
182
179
526
552
182
818
Durablegoods
manu
facturing
(D)
(D)
(D)
(D)
(D)
778
(D)
7,916
677
45
(D)
3,717
517
1,126
1,427
761
(D)
23
627
75
314
(D)
(D)
1,344
(D)
421
(D)
1,313
(D)
(D)
773
153
(D)
(D)
398
222
203
131
(D)
12
(D)
849
(D)
365
2,722
(D)
(D)
32
(D)
196
7,323
(D)
1,870
(D)
(D)
244
(D)
(D)
(D)
(D)
(D)
78
(D)
285
289
709
(D)
(°)
(D)
47
486
(D)
833
318
285
687
1,351
212
(D)
179
(D)
(D)
(D)
3,627
1,592
(D)
(D)
812
(D)
158
(D)
Nondurablegoods
manu
facturing
Trade
(D)
(D)
194
(D)
355
(D)
444
(D)
(D)
1,989
350
(D)
(D)
265
745
165
92
(D)
97
(D)
1,958
(D)
1,003
1,895
(D)
(D)
528
(D)
2,065
1,566
(D)
1,681
209
(D)
861
(D)
(D)
(D)
(D)
(D)
124
(D)
495
41
196
(D)
(D)
(D)
44
350
(D)
253
98
284
747
1,092
342
(D)
438
(D)
(D)
4,402
26,033
767
(D)
589
1,017
2,782
(D)
607
(D)
1,198
432
3,055
1,062
1,340
(D)
351
1,697
551
1,026
3,028
487
1,742
915
726
451
1,173
1,182
(D)
3,751
329
975
889
522
438
540
636
(D)
381
880
(D)
4,792
619
(D)
1,013
(D)
348
(D)
633
(D)
(D)
1,475
(D)
1,006
4,803
436
908
43,175
(D)
2,035
895
(D)
636
(D)
605
3,189
(D)
(D)
389
825
(D)
765
535
637
(D)
(D)
483
(D)
967
1,281
(D)
(D)
683
(D)
(D)
(D)
(D)
(D)
186
(D)
5,960
378
165
(D)
919
30
1,351
638
402
(D)
320
290
14
1,211
769
51
(D)
(D)
330
(D)
75
(D)
(D)
(D)
380
(D)
700
1,937
(D)
585
2,458
Transpor
tation and
utilities
6,381
1,042
8,462
647
210
196
891
610
(D)
331
141
315
124
1,440
329
263
(D)
452
430
606
405
1,356
184
436
564
117
222
226
740
(D)
1,752
130
364
194
128
156
254
318
(D)
198
333
(D)
1,408
(D)
(D)
707
383
104
(D)
214
(D)
(D)
636
(D)
344
2,976
75
1,762
(D)
(D)
187
152
5,253
391
(D)
1,038
1,237
142
(D)
134
311
(D)
144
266
157
(D)
(D)
173
(D)
306
490
372
197
958
123
(D)
212
(D)
(D)
203
1,092
Infor
mation
18,787
(D)
6,639
(D)
76
152
207
724
141
43
(D)
79
71
695
254
468
390
80
607
(D)
(D)
291
43
450
123
64
114
360
180
697
810
60
236
87
118
66
79
106
707
82
115
341
868
(D)
1,142
172
267
30
1,074
277
2,934
83
108
21
105
1,430
43
81
(D)
198
420
126
(D)
411
72
43
957
78
2,658
50
136
325
279
108
69
142
207
55
8,507
109
319
(D)
124
(D)
38
175
(D)
369
(D)
82
270
Financial
activities
34,041
18,357
40,843
562
1,184
777
1,460
4,682
1,292
339
452
890
327
5,869
1,502
2,279
1,801
485
2,834
(D)
1,671
2,855
565
2,023
974
459
521
1,792
1 ,2 2 0
3,434
4,405
394
1,770
816
467
366
509
656
6,331
421
1,024
3,104
7,220
873
3,870
1,359
1,327
233
5,886
682
34,638
760
1,319
119
1,273
11,231
473
1,712
51,584
1,160
2,128
598
24,589
1 ,2 1 0
460
515
4,986
475
14,514
603
625
522
632
543
779
501
2,381
398
(D)
1,079
949
(D)
674
4,502
307
1,173
1,214
2,895
887
531
2,968
Pro
fessional Education Leisure
Other
and
and health
and
services
business services hospitality
services
24,937
2,925
32,135
265
278
362
573
4,349
576
181
282
579
146
1,626
604
1,027
(D)
(D)
896
180
(D)
3,477
230
912
467
215
148
1,613
904
(D)
2,129
167
733
417
279
178
196
377
(D)
206
561
(D)
3,443
400
3,559
894
541
146
3,274
239
8,977
311
795
75
645
5,034
191
697
(D)
590
4,957
379
10,622
359
265
286
2,544
277
6,662
309
297
(D)
418
400
225
384
(D)
161
(D)
3,329
772
789
357
4,257
150
433
(D)
1,598
606
(D)
1,987
10,374
2,647
18,126
525
480
567
1,586
4,066
872
176
268
627
419
1,966
1,452
1,422
(D)
325
1,135
385
889
1,255
591
1,615
669
330
407
1,173
867
(D)
3,084
408
1,385
748
450
386
502
570
(D)
446
529
(D)
2,791
649
2,082
577
883
293
3,126
460
7,699
619
1,032
54
523
4,121
423
556
(D)
1,512
1,138
442
8,415
551
1,599
552
2,479
550
5,587
215
644
(D)
850
742
565
711
1,369
495
(D)
722
1,193
1,105
538
3,017
265
989
848
1,354
635
565
1,785
5,607
1,009
6,654
147
258
233
386
773
176
103
120
165
101
842
356
390
(D)
164
374
148
354
540
489
390
214
134
92
513
237
479
845
98
435
393
289
84
143
213
925
125
176
650
855
(D)
876
1,115
265
83
993
183
1,878
203
302
47
205
2,967
197
280
(D)
294
506
1 22
3,456
261
143
134
694
136
2,705
173
144
(D)
3,470
(D)
4,336
(D)
165
97
259
603
172
103
(D)
181
80
522
296
329
375
89
239
145
314
357
113
354
208
137
104
328
215
387
908
100
251
154
100
85
90
165
778
88
236
318
685
139
685
201
220
85
781
105
1,677
118
310
(D)
218
1,201
83
243
6,935
235
442
121
2 ,2 1 1
138
89
145
583
1 12
1,589
104
128
187
218
210
11 0
171
223
488
472
177
147
98
167
298
95
2,276
215
315
275
144
(D)
94
155
187
367
198
123
552
504
132
169
407
111
(D)
296
327
317
273
1,245
101
Government
15,191
3,164
18,048
674
1,870
291
1,643
4,789
710
1,413
2,454
542
503
7,435
1,190
1,940
1,156
1,916
1 ,1 0 0
755
9,847
1,932
1,251
1,675
1,098
829
374
1,826
1,236
1,416
4,790
349
3,361
634
673
1,041
921
677
2,590
752
865
1,322
2,982
1,793
3,109
3,021
1,495
1,497
4,949
625
9,201
994
1,444
2,697
967
13,784
335
768
27,979
1,427
5,226
457
8,964
2,473
442
668
4,112
843
8,286
6 ,1 2 0
586
1,607
1,086
634
554
552
1,454
406
12,289
1,472
8,424
1,009
1,150
3,709
442
653
1,573
1,019
837
574
1,984
February 2012
Survey
of
D-87
C u r r e n t B u s in e s s
Table J.2. Gross Domestic Product by Metropolitan Area for Industries, 2010—Continues
[M illions of dollars]
Metropolitan area
Lancaster, PA................................................................
Lansing-East Lansing, M l.............................................
Laredo, T X ....................................................................
Las Cruces, NM ............................................................
Las Vegas-Paradise, N V ...............................................
Lawrence, KS................................................................
Lawton, OK
Lebanon, PA
Lewiston, ID-WA............................................................
Lewiston-Auburn, ME....................................................
Lexington-Fayette, KY...................................................
Lima, OH.......................................................................
Lincoln, NE......................................
Little Rock-North Little Rock-Conway, AR....................
Logan, UT-ID.................................................................
Longview, TX..................................
Longview, WA..................................
Los Angeles-Long Beach-Santa Ana, CA....................
Louisville-Jefferson County, KY-IN...
Lubbock, TX ..................................................................
Lynchburg, VA...............................................................
Macon, GA.
Madera-Chowchilla, C A ................................................
Madison, W l..................................................................
Manchester-Nashua, N H ..............................................
Manhattan, KS
Mankato-North Mankato, MN........................................
Mansfield, O H...............................................................
McAllen-Edinburg-Mission, TX.....................................
Medford, OR..................................................................
Memphis, TN-MS-AR
Merced, CA...................................................................
Miami-Fort Lauderdale-Pompano Beach, FL...............
Michigan City-La Porte, IN .............
Midland, TX...................................................................
Milwaukee-Waukesha-West Allis, W l...........................
Minneapolis-St. Paul-Bloomington, MN-WI..................
Missoula, MT..................................
Mobile, A L......................................
Modesto, C A .................................................................
Monroe, LA
Monroe, Ml
Montgomery, AL............................................................
Morgantown, WV...........................................................
Morristown, TN..............................................................
Mount Vernon-Anacortes, WA......................................
Muncie, IN.
Muskegon-Norton Shores, Ml
.............................
Myrtle Beach-North Myrtle Beach-Conway, SC...........
Napa, C A ......................................................................
Naples-Marco Island, FL................
Nashville-Davidson-Murfreesboro-Franklin, TN ...........
New Haven-Milford, CT..................
New Orleans-Metairie-Kenner, L A ...............................
New York-Northern New Jersey-Long Island, NY-NJ-PA
Niles-Benton Harbor, Ml................................................
North Port-Bradenton-Sarasota, FL.............................
Norwich-New London, CT.............................................
Ocala, F L ..............
Ocean City, NJ
Odessa, TX ..........
Ogden-Clearfield, UT...................................................
Oklahoma City, OK
Olympia, WA
Omaha-Council Bluffs, NE-IA.......................................
Orlando-Kissimmee-Sanford, FL..................................
Oshkosh-Neenah, W l...................................................
Owensboro, KY
Oxnard-Thousand Oaks-Ventura, C A ..........................
Palm Bay-Melbourne-Titusville, F L ..............................
Palm Coast, F L .............................................................
Panama City-Lynn Haven-Panama City Beach, FL
Parkersburg-Marietta-Vienna, WV-OH.........................
Pascagoula, MS............................................................
Pensacola-Ferry Pass-Brent, FL..................................
Peoria, IL.......................................................................
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Phoenix-Mesa-Glendale, AZ.........................................
Pine Bluff, AR................................................................
Pittsburgh, PA................................................................
Pittsfield, MA..................................
Pocatello, ID...................................
Portland-South Portland-Biddeford, ME.......................
Portland-Vancouver-Hillsboro, OR-WA.........................
Port St. Lucie, FL ...........................
Poughkeepsie-Newburgh-Middletown, NY...................
Prescott, A Z...................................
Providence-New Bedford-Fall River, RI-MA.................
Provo-Orem, UT............................
Pueblo, CO....................................................................
Punta Gorda, F L ...........................................................
Racine, Wl.....................................................................
Raleigh-Cary, NC..........................................................
Rank of total
GDP by
metropolitan
area
104
103
241
249
33
326
278
324
365
322
90
293
134
67
341
183
355
2
47
175
196
210
330
63
96
240
323
332
142
234
44
235
11
337
172
37
13
294
125
130
230
328
131
238
342
255
344
284
186
217
145
39
57
41
1
247
89
136
214
315
242
119
48
195
52
29
204
302
62
106
366
223
246
208
138
111
7
15
349
22
265
360
86
21
160
93
297
43
133
305
346
222
49
Total
19,377
19,612
5,959
5,742
89,799
3,755
4,891
3,772
2 ,0 2 0
3,827
23,307
4,591
14,448
32,980
3,458
9,482
2,978
735,743
58,572
9,955
8,740
7,525
3,664
35,615
20,988
5,989
3,801
3,638
13,871
6,187
65,025
6,115
257,560
3,565
10,264
84,574
199,596
4,562
15,835
15,247
6,369
3,721
14,934
6,043
3,382
5,469
3,364
4,792
9,434
7,015
13,148
80,898
40,844
71,476
1,280,517
5,790
23,638
14,358
7,188
3,987
5,896
17,040
58,339
8,843
47,556
104,107
8,052
4,327
35,736
19,274
1,339
6,751
5,831
7,665
14,160
18,278
346,932
190,601
3,186
115,752
5,231
2,712
25,920
124,683
11,327
22,440
4,452
66,334
14,869
4,229
3,298
6,757
57,278
Natural
Con
resources
struction
and mining
613
216
568
228
216
17
20
168
(D)
35
784
75
157
599
(D)
1,717
119
8,646
434
389
31
95
816
453
20
(D)
282
(D)
616
1 02
581
1,279
1,262
96
4,979
199
(D)
38
345
1,248
(D)
94
163
217
30
(D)
53
44
36
346
377
140
74
9,573
813
1,159
481
127
215
4,841
115
115
115
76
163
813
107
474
1,160
180
578
257
19,875
2,078
(D)
(D)
(D)
126
966
558
222
157
115
416
358
1,643
206
10,600
149
256
2,174
6,134
211
978
553
(D)
182
622
249
(D)
251
95
139
388
321
870
(D)
25
1,288
2,624
34,312
133
1,375
357
443
(D)
421
874
1,938
292
1,690
4,469
236
(D)
1,115
755
50
349
(D)
(D)
111
438
83
135
35
(D)
97
6,595
101
546
379
34
167
2,146
25
(D)
57
49
392
1,021
2,549
(D)
2,433
17
53
(D)
1,283
(D)
137
424
410
108
44
64
(D)
291
411
760
698
(D)
9,464
151
4,148
231
134
835
3,972
630
821
269
(D)
672
237
191
185
2,293
Durablegoods
manu
facturing
1,934
1,845
31
312
1,970
99
(D)
379
(D)
167
(D)
584
(D)
(D)
441
822
294
43,550
(D)
(D)
1,136
(D)
172
(D)
2,880
(D)
(D)
723
236
318
(D)
87
Nondurablegoods
manu
facturing
Trade
(D)
15,740
69
433
(D)
(D)
9,262
87
2,960
(D)
911
515
9,012
378
301
679
(D)
(D)
3,005
551
(D)
4,805
347
1,346
424
89,016
(D)
1,656
(D)
(D)
366
3,977
2,809
(D)
472
519
2,465
(D)
(D)
670
39,449
393
1,068
9,413
(D)
555
(D)
(D)
2 ,1 0 2
(D)
557
(D)
2,026
409
19
10 0
759
280
(D)
495
(D)
353
(D)
1,033
(D)
(D)
429
555
384
30,923
(D)
(D)
1,188
(D)
93
(D)
508
(0)
(D)
108
208
175
(D)
521
(D)
578
(D)
559
(D)
(D)
572
344
315
1,777
(D)
55
(D)
(D)
512
1,626
67
(D)
(D)
244
147
217
(0)
3,383
1,941
(D)
(D)
888
(D)
500
13
402
(D)
(D)
169
(D)
(D)
1,478
(D)
2,663
3,637
51
(D)
(D)
(D)
47
1,299
58
(D)
1,548
10,051
(D)
(D)
533
(D)
135
41
88
(D)
(D)
97
(D)
(D)
1,487
(D)
3,854
108
7
(D)
(D)
(D)
285
(D)
(D)
(D)
331
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
186
(D)
1,420
427
33
1,272
(D)
(D)
41
(D)
629
65
5
1,190
(D)
2,056
960
(D)
1,675
575
(D)
625
409
714
1,238
713
1,658
(D)
5,032
7,110
(D)
549
3,132
1,374
1,121
411
1,025
1,805
(D)
1,248
(D)
12,555
(D)
584
4,772
2,085
194
746
662
401
1,661
1,665
36,955
26,877
(D)
13,601
506
(D)
3,130
(D)
1,731
3,117
679
(D)
1,794
487
514
744
6,681
Transpor
tation and
utilities
730
(D)
783
259
5,094
135
133
167
(D)
(D)
793
Infor
mation
631
504
77
117
1,908
183
66
(D)
1,670
(D)
558
194
27,100
4,336
396
230
485
146
1,115
478
(D)
142
(D)
690
64
33
91
830
106
308
(D)
58
500
44
69,633
(D)
(D)
151
(D)
96
2,051
1,225
107
166
166
297
(D)
201
201
6,592
376
14,846
275
308
2,977
(D)
293
1,176
737
265
(D)
569
212
(D)
223
131
183
174
223
280
2,914
1,201
(D)
46,634
675
668
1,244
321
(D)
233
642
(D)
244
4,542
3,911
(D)
311
825
527
(D)
296
(D)
284
640
1,009
(D)
9,701
(D)
5,734
154
(D)
(D)
4,449
1,507
1,139
113
2,598
350
354
61
(D)
1,747
(D)
137
12,870
43
164
3,272
7,946
144
356
187
523
36
(D)
(D)
(D)
38
43
125
238
118
282
(D)
1,505
(D)
96,576
58
607
214
203
69
145
(D)
1,750
121
(D)
4,712
208
(D)
1,050
538
(D)
182
(D)
86
484
341
13,983
5,567
(D)
4,614
124
(D)
703
(D)
(D)
551
69
2,483
(D)
86
71
60
3,622
Financial
activities
2,850
4,783
642
763
23,622
691
477
289
316
730
3,912
382
3,232
(D)
356
799
239
184,352
12,069
1,593
1,448
1,400
325
10,388
4,871
560
483
383
1,276
1,099
13,320
610
68,286
379
913
21,464
52,428
1,085
2,701
2,428
993
405
2,400
961
271
588
571
645
3,257
1,136
4,315
15,097
8 ,2 1 2
10,350
432,709
781
5,864
1,548
1,248
1,319
611
2,928
9,629
1,353
11,723
31,616
959
538
6,842
2,523
249
1,539
685
419
2,234
2,163
102,516
49,623
(D)
24,258
1,204
377
6,712
(D)
1,873
2,910
663
15,418
2,215
398
731
864
13,390
Pro
fessional Education Leisure
Other
and health
Government
and
and
services
business services hospitality
services
1,621
(D)
351
618
9,294
299
245
206
(D)
348
2,398
230
1,285
3,259
269
648
1 22
96,683
6,051
660
872
727
185
3,323
2,658
(D)
244
240
826
543
7,203
295
31,230
170
770
10,390
(D)
471
1,576
968
634
349
1,448
444
175
(D)
309
173
521
588
1,186
10,816
4,589
7,135
187,377
368
3,041
1,216
463
205
316
1,443
5,757
591
5,683
13,148
927
186
3,702
3,084
104
640
314
425
1,323
1,937
51,952
22,790
(D)
17,228
490
212
2,949
12,623
943
1,830
256
6,882
1,827
316
280
488
8,759
2 ,1 2 2
1,828
513
620
5,169
241
201
397
255
695
1,825
667
1,538
2,963
(D)
788
323
53,070
5,949
1,221
945
1,353
444
2,508
2,153
(D)
530
437
2,369
879
5,271
473
22,151
352
340
9,413
(D)
606
1,377
1,908
713
264
1,292
707
297
299
548
616
647
650
1,235
12,085
7,098
5,016
109,869
532
2,836
1,300
821
298
(D)
1,279
4,692
962
4,112
7,844
679
312
2,427
1,993
139
494
668
254
1,694
2,155
38,598
17,236
(D)
14,219
958
(D)
2,930
9,539
1,272
3,012
580
8,867
1,874
677
551
659
3,919
632
481
240
228
16,934
158
142
91
72
111
872
116
(D)
932
91
226
98
32,926
2,156
454
215
245
89
898
569
144
105
116
582
276
3,092
160
12,791
189
234
2,356
6,694
207
451
447
192
141
420
177
81
162
114
163
1,319
486
1,199
3,906
1,043
3,778
42,460
183
1,355
569
324
409
200
460
2 ,0 0 0
323
1,423
10,109
159
126
1,156
757
79
416
173
137
556
520
9,346
7,801
(D)
3,900
328
85
1,114
3,352
568
740
250
2,504
384
170
182
164
1,596
604
586
162
169
1,583
156
76
105
81
82
452
111
365
695
125
230
83
16,727
(D)
306
240
208
110
827
490
129
116
96
482
195
(D)
173
6,756
97
183
1,760
4,050
136
483
442
171
1 10
(D)
(D)
(D)
130
99
126
226
194
405
(D)
1,024
1,461
25,691
146
769
283
259
116
197
(D)
1,205
287
(D)
2,139
188
116
861
504
48
205
(D)
105
419
439
6,814
3,791
73
2,773
169
74
514
2,582
397
576
138
1,600
(D)
137
152
157
1,219
1,495
4,585
1,535
1,600
9,397
1 ,0 0 2
2,662
618
324
336
3,531
427
2,566
5,962
682
715
397
63,241
6,015
1,892
861
909
696
5,795
1,769
3,379
564
527
3,408
835
7,578
1,129
27,966
433
596
6,940
18,363
659
2,132
1,918
737
399
3,666
1,464
420
766
611
603
1,099
793
1,066
7,551
4,846
6,535
114,962
573
2,133
3,704
1,216
723
626
4,091
10,854
3,057
5,512
8,675
762
635
4,324
2,737
248
1,534
798
878
3,724
1,344
30,829
19,329
749
9,728
513
517
3,208
12,060
1,452
4,877
782
8,444
1,655
830
463
681
6,663
February 2012
Regional Data
D-88
Table J.2. Gross Domestic Product by Metropolitan Area for Industries, 2010—Table Ends
[Millions of dollars]
Metropolitan area
Rapid City, SD..............................................................
Reading, PA.....
Redding, CA ...........................................................
Reno-Sparks, NV
Richmond, VA...
Riverside-San Bernardino-Ontario, CA.......................
Roanoke, VA................................................................
Rochester, MN.............................................................
Rochester, NY..............................................................
Rockford, IL..................................................................
Rocky Mount, NC.........................................................
Rome, GA
.................................
Sacramento-Arden-Arcade-Roseville, CA...................
Saginaw-Saginaw Township North, M l.......................
St. Cloud, M N ...........................
St. George, UT....................................................
St. Joseph, MO-KS
St. Louis, MO-IL
Salem, OR
Salinas, CA
Salisbury, MD...,
Salt Lake City, U T........................................................
San Angelo, TX.
.................................
San Antonio-New Braunfels, T X .................................
San Diego-Carlsbad-San Marcos, CA........................
Sandusky, OH...........................
San Francisco-Oakland-Fremont, CA.........................
San Jose-Sunnyvale-Santa Clara, CA........................
San Luis Obispo-Paso Robles, CA
Santa Barbara-Santa Maria-Goleta, C A .....................
Santa Cruz-Watsonville, CA........................................
Santa Fe, NM...............................................................
Santa Rosa-Petaluma, CA..........................................
Savannah, GA...
Scranton-Wilkes-Barre, PA..........................................
Seattle-Tacoma-Bellevue, WA.....................................
Sebastian-Vero Beach, FL...........................................
Sheboygan, W l.
Sherman-Denison, TX
Shreveport-Bossier City, LA........................................
Sioux City, IA-NE-SD
Sioux Falls, SD..
South Bend-Mishawaka, IN-MI....................................
Spartanburg, SC..........................................................
Spokane, WA....
Springfield, IL....
Springfield, M A.
Springfield, MO.
Springfield, O H .
State College, PA
Steubenvi Ile-Wei rton, OH-WV....................................
Stockton, CA
Sumter, SC
Syracuse, NY....
Tallahassee, FL.
Tampa-St. Petersburg-Clearwater, FL.........................
Terre Haute, IN..
Texarkana, TX-Texarkana, A R ....................................
Toledo, OH
Topeka, KS.......
Trenton-Ewing, NJ
Tucson, AZ
Tulsa, OK
Tuscaloosa, AL..
Tyler, TX
Utica-Rome, NY
Valdosta, GA
Vallejo-Fairfield, CA......................................................
Victoria, TX
Vineland-Millville-Bridgeton, NJ..................................
Virginia Beach-Norfolk-Newport News, VA-NC...........
Visalia-Porterville, CA..................................................
Waco, TX
Warner Robins, GA......................................................
Washington-Arlington-Alexandria, DC-VA-MD-WV ,
Waterloo-Cedar Falls, IA..............................................
Wausau, Wl
...........................................................
Wenatchee-East Wenatchee, WA................................
Wheeling, WV-OH........................................................
Wichita, KS
Wichita Falls, TX
Williamsport, PA
Wilmington, NC.
Winchester, VA-WV......................................................
Winston-Salem, NC.....................................................
Worcester, M A..
Yakima, WA
York-Hanover, PA.........................................................
Youngstown-Warren-Boardman, OH-PA.....................
Yuba City, CA....
Yuma, A Z .....................................................................
Rank of total
GDP by
metropolitan
area
264
132
268
99
45
25
144
185
53
149
256
348
32
219
211
345
295
20
150
115
308
42
321
38
16
353
8
17
166
1 02
179
218
1 00
147
101
12
309
269
340
94
224
124
153
165
113
180
91
137
334
236
335
105
351
77
143
23
245
301
82
189
81
68
55
194
200
190
307
140
280
275
40
159
197
254
4
205
252
331
259
84
248
319
139
271
92
74
213
127
121
289
273
Total
5,241
14,876
5,147
20,172
64,321
109,818
13,304
9,457
45,742
12,521
5,465
3,207
92,873
6,884
7,456
3,348
4,497
129,734
12,488
17,777
4,139
66,456
3,863
82,036
171,568
3,124
325,927
168,517
10,662
19,623
9,697
6,897
19,888
12,933
19,697
231,221
4,135
5,130
3,465
22,243
6,734
16,232
12,029
10,673
18,090
9,681
22,619
14,316
3,628
6,095
3,599
19,375
3,156
27,620
13,395
113,702
5,833
4,362
26,605
9,371
26,680
32,324
44,823
8,859
8,461
9,138
4,161
13,925
4,840
4,984
80,518
11,349
8,597
5,491
425,167
7,810
5,650
3,653
5,363
26,299
5,744
3,876
13,976
5,069
22,590
29,233
7,291
15,318
16,613
4,682
5,034
Natural
Con
resources
struction
and mining
47
220
162
143
259
1,583
40
157
(D)
70
(D)
22
1,159
111
(D)
(D)
138
740
661
3,442
74
(D)
401
2,013
1,089
41
2,879
852
521
1,707
597
198
408
(D)
140
1,192
175
70
72
6,849
(D)
482
106
44
1 20
(D)
76
16
103
90
62
1,369
55
188
(D)
835
223
57
(D)
98
12
875
3,820
828
1,079
93
105
289
628
168
525
2,364
1 12
5
450
(D)
105
435
806
639
1,1 1 0
122
117
26
92
60
1,289
198
204
683
751
230
583
280
1,015
(D)
5,968
(D)
330
1,703
464
176
70
4,238
190
483
206
155
(D)
505
495
(D)
2,766
138
3,582
6,147
67
9,976
3,623
618
744
519
229
1,106
507
606
8,024
210
144
158
615
194
435
333
404
746
356
819
(D)
73
211
111
898
152
1,032
533
4,690
224
139
864
340
567
1,355
1,655
304
252
276
(D)
761
(D)
202
(D)
397
382
99
(D)
222
165
138
(D)
Durable- Nondurablegoods
goods
manu
manu
facturing
facturing
189
2,297
142
1,301
(D)
5,346
(D)
(D)
4,425
2,861
601
261
3,382
1,393
700
143
(D)
(D)
(D)
161
(D)
5,197
(D)
(D)
1 1 ,0 1 2
473
(D)
(D)
(D)
(D)
(D)
46
(D)
(D)
(D)
(D)
141
1,083
793
(D)
(D)
(D)
1,908
(D)
1,311
(D)
1,438
(D)
481
341
(D)
665
480
2,179
(D)
(D)
(D)
(D)
3,218
(D)
485
(D)
(D)
(D)
602
662
(D)
372
(D)
414
(D)
187
1,351
132
(D)
1,730
865
(D)
(D)
21
(D)
(D)
(D)
717
233
2,386
(D)
(D)
3,701
441
(D)
(D)
(D)
(D)
(D)
54
(D)
(D)
(D)
(D)
29
959
171
(D)
(D)
(D)
765
(D)
282
(D)
1,006
(D)
138
61
(D)
1,081
181
1,207
(D)
(D)
(D)
(D)
2,548
(D)
812
(D)
(D)
(D)
253
296
293
2,209
(D)
431
(D)
783
732
499
(D)
579
508
(D)
(D)
(D)
(D)
918
157
137
772
(D)
(D)
541
766
444
834
(D)
(D)
(D)
604
1,034
215
720
518
187
206
1,207
2,819
234
(D)
(D)
(D)
67
(D) Not shown to avoid disclosure of confidential information, but the estimates for this item are included in the totals.
28
1,041
37
362
(D)
3,553
748
(D)
5,133
607
1,219
513
1,464
109
531
4,376
1,473
414
(D)
(D)
(D)
115
Trade
712
1,991
781
2,476
6,936
16,598
1,771
(D)
(D)
(D)
747
375
(D)
847
933
454
490
(D)
1,165
2,317
582
(D)
(D)
9,805
16,383
358
29,631
16,379
1,246
1,959
1,458
831
2,573
(D)
(D)
26,934
631
525
437
2,033
782
1,950
1,520
1,651
2,673
1,007
2,533
(D)
(D)
458
366
2,861
306
3,610
(D)
15,209
(D)
(D)
(D)
(D)
2 ,2 2 2
3,299
5,124
(D)
1,090
(D)
498
1,664
(D)
(D)
(D)
1,538
945
390
28,100
(D)
803
549
(D)
3,431
580
526
1,520
621
(D)
3,596
1,125
1,667
2,486
(D)
572
Transpor
tation and
utilities
292
784
404
(D)
2,733
7,253
829
(D)
(D)
(D)
(D)
189
(D)
243
(D)
241
245
5,809
378
556
239
(D)
(D)
3,092
5,152
97
13,845
4,353
1,150
356
200
90
624
(D)
(D)
8,466
54
168
147
1,023
(D)
492
436
358
906
(D)
1,085
886
(D)
134
679
1,593
98
2,713
(D)
5,427
(D)
(D)
(D)
808
673
1,498
3,759
(D)
360
(D)
222
564
(D)
(D)
3,654
663
330
141
11,974
(D)
228
87
(D)
982
(D)
119
1,048
205
(D)
1,379
339
1,150
845
(D)
151
Infor
mation
149
182
10 2
(D)
(D)
2,997
(D)
183
1,848
239
(D)
133
2,909
231
(D)
(D)
(D)
(D)
172
337
130
2,345
(D)
3,856
9,751
39
18,965
21,902
199
733
167
237
475
221
997
26,751
117
31
56
408
111
480
265
12 2
352
(D)
533
542
36
273
73
367
30
714
598
5,430
79
71
494
(D)
1,720
800
1,765
(D)
381
226
(D)
228
(D)
113
(D)
201
202
43
25,562
113
75
62
121
791
(D)
84
413
(D)
(D)
938
87
349
329
67
63
Financial
activities
1,142
2,049
735
5,112
15,024
20,008
2,216
908
6,301
1,741
613
247
20,175
1,064
1,119
710
487
22,890
2,264
2,337
585
17,749
(D)
15,338
41,243
368
77,858
22,572
1,985
3,611
1,827
1,755
4,173
1,577
2,639
49,064
1,023
722
374
2,326
(D)
7,172
1,965
1,146
3,492
1,704
3,927
2,374
632
892
341
3,168
229
4,528
1,995
26,010
598
564
3,845
1,737
5,509
5,314
7,420
1,293
1,007
1,457
557
1,729
(D)
563
15,950
1,123
1,246
409
90,541
1,331
1,185
572
701
3,540
488
376
3,562
776
(D)
4,570
742
2,065
2,419
625
499
Pro
fessional Education Leisure
Other
Government
and
and health
and
services
business services hospitality
services
322
1,718
420
2,083
9,844
8,802
1,352
342
5,459
847
349
157
11,658
592
462
216
273
18,959
815
1,254
420
7,900
(D)
8,890
24,276
114
61,265
28,191
925
2 ,6 8 8
1,194
664
2,407
1,124
1,586
26,934
372
280
171
1,164
(D)
947
1,179
893
1,589
830
1,894
1,566
255
503
133
1,265
190
2,762
(D)
15,480
285
288
(D)
744
5,261
3,697
4,886
452
729
618
(D)
887
237
246
7,810
636
574
497
98,516
(D)
384
162
358
2,336
(D)
249
1,266
(O)
2,294
3,474
291
1,344
1,311
236
370
676
1,582
798
1,637
5,266
9,599
1,671
3,938
(D)
1,577
(D)
659
8,481
920
1,060
447
483
14,455
1,726
1,154
589
4,119
(D)
7,387
11,174
320
23,362
11,188
875
1,649
1 ,0 0 2
665
1,997
1,574
2,768
15,340
542
516
453
1,775
(D)
(D)
1,884
775
2,526
(D)
3,989
2,139
479
465
422
2 ,1 0 0
297
3,301
(D)
11,583
698
499
(D)
1,032
3,365
3,794
3,562
530
1,355
1,311
(D)
1,659
411
552
5,629
742
989
276
26,510
(D)
577
456
620
2,661
(D)
466
1,0 1 2
687
3,133
4,490
906
1,581
2,204
424
448
274
380
218
1,667
1,583
4,529
386
281
1,354
347
147
91
2,922
219
220
200
1 12
5,247
334
1,155
128
2,129
130
4,000
7,044
377
1 1 ,6 6 8
3,464
555
962
437
493
837
(D)
672
7,450
277
136
144
881
(D)
421
333
372
677
311
806
489
121
214
192
552
76
891
(D)
5,917
172
165
803
255
531
1,370
1,163
241
284
298
184
428
123
93
2,681
300
275
158
12,911
210
130
189
219
1,034
(D)
109
578
153
562
888
229
384
537
113
168
138
432
201
418
(D)
3,647
(D)
183
952
374
119
74
2,652
158
190
144
(D)
(D)
305
442
137
1,617
109
1,918
3,873
69
6,855
2 ,2 1 1
342
518
344
246
628
352
521
4,646
137
104
96
390
166
271
301
245
485
345
744
465
151
139
83
593
97
645
512
2,736
158
127
641
(D)
545
841
946
177
215
225
(D)
370
1 12
120
(D)
331
243
119
15,463
161
139
97
126
616
167
1 22
313
131
428
847
188
438
482
146
108
1,040
1,616
869
2,284
9,481
19,936
1,485
750
5,428
1,131
675
415
2 1 ,2 2 0
808
947
439
564
13,298
3,185
3,410
660
7,632
864
16,131
30,723
359
28,685
8,789
1,475
2,914
1,296
1,387
2 ,0 0 0
2,411
2 ,2 2 1
28,368
428
391
395
2,831
625
894
1,034
1,451
2,931
2,390
3,769
1,704
454
2,314
363
2,862
965
3,850
4,388
12,919
785
1,023
3,224
1,916
4,977
6,586
3,992
1,745
855
2,253
1,215
2,766
513
1,174
23,387
2,084
1,219
2,722
92,232
888
486
659
630
3,034
1,316
581
1,776
666
1,624
3,664
1,232
1,730
2,008
1,145
1,516
February 2012
D-89
K. C harts
SELECTED REGIONAL ESTIMATES
SH A R E S OF U.S. G R O S S DOMESTIC PRODUCT BY STATE BY REGION
Mideast
18.4%
1969
M ideast
23.5%
Great Lakes
21.3%
G reat Lakes
14.0%
New England
5.5%
Plains
6.5%
New England
5.8%
Plains
7.4%
Far W est
14.9%
Far West
18.3%
S outh east
2 2 .2
Rocky Mountain
2 .2
Rocky Mountain
3.5%
South east
17.7%
%
Southwest
7.3%
%
Southwest
1 1 .6
%
SH A R E S OF U.S. PERSO N A L INCOME BY REGION
.1970
Mideast
18.2%
M ideast
2 3 .'
G reat Lakes
20.3%
2010
G reat Lakes
14.2%
New England
5.7%
Plains
6.5%
New England
6.3%
Plains
7.6%
Far West
15.2%
Far West
17.9%
S outh east
23.1%
Rocky Mountain
2.3%
7.2%
South east
17.6%
Rocky Mountain
3.3%
Southwest
____________________ 11.4%
AVERAGE ANNUAL GROWTH RATE OF PERSO N AL INCOME, 20 0 0 -2 0 1 0
U.S. average
STATES WITH FA ST E ST GROWTH 3.9%
U.S. average
STATES WITH SLO W EST GROWTH 3.9%
Wyoming
New Mexico
Texas
North Dakota
Louisiana
Arizona
Montana
Alaska
Utah
Oklahoma
5
6
Percent
U.S. Bureau of Economic Analysis
D-90
February 2012
Regional Data
SELECTED REGIONAL ESTIMATES
P E R CAPITA G R O S S D O M EST IC P R O D U C T BY STATE IN C U R R E N T D O LLA R S, 2 0 1 0
ME
$38,901
MA
$57,757
Rl
$46,761
CT
$55,369 $66’328
DE
$69,217
$51,038
DC $170,879
U.S. = $47,040
* 1
HI
$48,958
□
Highest quintile
□
Fourth quintile
□
Third quintile
□
Second quintile
|
Lowest quintile
P E R CAPITA P E R S O N A L INCOME, 2 0 1 0
ME
$36,717
MA
$51,302
Rl
$42,095
CT
$51,167 $54’877
DE
$39,664
$49,070
DC $70,044
U.S. = $39,945
HI
$41,661
U.S. Bureau of Economic Analysis
□
Highest quintile
□
Fourth quintile
□
Third quintile
□
Second quintile
□
Lowest quintile
D-91
February 2012
A ppendixes
A. A dd itio n al Inform ation A bo ut th e NIPA Estim ates
Statistical Conventions
Current-dollar GDP is a measure of the market value
of goods, services, and structures that are produced in
the economy in a particular period. The changes in cur
rent-dollar GDP can be decomposed into quantity and
price components. Quantities, or “real” measures, and
prices are expressed as index num bers with the reference
year— at present, the year 2005— equal to 100.1
The annual changes in quantities and prices are calcu
lated using a Fisher formula that incorporates weights
from 2 adjacent years. For example, the annual percent
change in real GDP for 2006-2007 uses prices for 2006
and 2007 as weights, and the 2006-2007 annual percent
change in the GDP price index uses quantities for 2006
and 2007 as weights. Because the Fisher formula allows
for the effects of changes in relative prices and in the
composition of output over time, the resulting quantity
or price changes are not affected by the substitution bias
that is associated with changes in quantities and prices
calculated using a fixed-weighted formula. These annual
changes are “chained” (multiplied) together to form time
series of quantity and price indexes. The percent changes
in the Fisher indexes are not affected by the choice of the
reference year.
BEA also publishes implicit price deflators (IPDs),
which are calculated as the ratio of the current-dollar
value of a com ponent to the chained-dollar value of the
com ponent, multiplied by 100. The values of an IPD are
very close to the values of the corresponding “chain-type”
price index.
The measures of real GDP and its m ajor components
are also presented in dollar-denominated form, desig
nated “chained (2005) dollar estimates.” For most series,
these estimates are computed by multiplying the cur
rent-dollar value in 2005 by a corresponding quantity
index num ber and then dividing by 100. For example, if a
current-dollar GDP com ponent equaled $100 in 2005
and if real output for this com ponent increased by 10
percent in 2006, then the chained (2005) dollar value of
this com ponent in 2006 would be $110 ($100 x 1.10).
The percent changes calculated from the chained (2005)
dollar estimates and from the quantity indexes are the
same; any differences will be small and due to rounding.
The chained-dollar values for the detailed GDP com
ponents will not necessarily sum to the chained-dollar
estimate of GDP (or to any intermediate aggregate) in a
table, because the relative prices that are used as weights
for any period other than the reference year differ from
those o f the reference year. A measure of the effect of such
1.
S e e J. S t e v e n L a n d e f e l d , B r e n t R . M o u l t o n , a n d C i n d y M . V o j t e c h , “ C h a i n e d -
D o lla r I n d e x e s : Is s u e s , T ip s o n T h e ir U se , a n d U p c o m in g C h a n g e s ,” S u rv e y o f C u r r e n t
B u s in e s s ( N o v e m b e r
2003): 8- 16.
differences is provided by a “residual” line— the differ
ence between the chained-dollar value of the main aggre
gate in the table and the sum of the m ost detailed
com ponents in the table. For periods close to the refer
ence year, when the relative prices that are used as weights
have usually not changed much, the residuals tend to be
small, and the chained-dollar estimates can be used to
approximate the contributions to growth and to aggre
gate the detailed estimates. For periods further from the
reference year, the residuals tend to be larger, and the
chained-dollar estimates are less useful for analyses of
contributions to growth. In particular, for components
for which relative prices are changing rapidly, the calcula
tion of contributions based on chained-dollar estimates
may be misleading even just a few years from the refer
ence year. Thus, contributions derived from quantity
indexes provide a better measure than contributions
derived from chained-dollar estimates; contributions
based on quantity indexes are shown in selected NIPA
tables 1.1.2, 1.2.2, 1.5.2, 2.3.2, 3.9.2, 4.2.2, and 5.3.2.
For quarters and months, NIPA estimates are pre
sented at annual rates, which show the value that would
be registered if the rate of activity that is measured for a
quarter or for a m onth were m aintained for a full year.
Annual rates are used so that periods of different
lengths— for example, quarters and years— may be more
easily compared. These annual rates are determ ined sim
ply by multiplying the estimated rate of activity by 4 (for
quarterly data) or by 12 (for m onthly data).
For m ost quarterly NIPA estimates, percent changes in
the estimates are also expressed at annual rates. Calculat
ing these changes requires a variant o f the com pound
interest formula:
where r is the percent change at an annual rate; xt is the
level of activity in the later period; Xq is the level of activ
ity in the earlier period; m is the periodicity of the data
(for example, 1 for annual data, 4 for quarterly data, or 12
for m onthly data); and n is the num ber of periods
between the earlier periods and the later periods (that
is, ? - 0 ) .
Quarterly and m onthly NIPA estimates are seasonally
adjusted if necessary. Seasonal adjustm ent removes from
the time series the average effects of variations that nor
mally occur at about the same time and in about the same
magnitude each year— for example, weather, holidays,
and tax payment dates. After seasonal adjustment, cycli
cal and other short-term changes in the economy stand
out more clearly.
A ppen dix A
D-92
February 2012
Reconciliation Table
Table 1. Relation of Net Exports of Goods and Services and Net Receipts of Income
in the NIPAs to Balance on Goods and Services and Income in the ITAs
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2009
2010
Exports of goods and services and income receipts, ITAs............................................................................
Less: Gold, ITAs.........................................................................................................................................................
Statistical differences 1
Other items.................
Plus: Adjustment for grossing of parent/affiliate interest payments.....................................................................
Adjustment for U.S. territories and Puerto R ico............................................................................................
Services furnished without payment by financial intermediaries except life insurance carriers.............
1
3
4
5
Equals: Exports of goods and services and income receipts, NIPAs.........................................................
2
2011
2010
II
III
2,174.5
13.9
2,500.8
17.6
2,464.7
14.7
0 .0
0 .0
2 .0
0 .0
IV
III
50.8
7.5
8.3
47.3
6.7
1.5
8.3
41.2
6.4
6 .6
2,542.7
2,512.9
2,569.5
2,664.7
2,776.2
2,888.5
2,911.5
2,427.8
2,835.6
2,814.1
8 .8
1 2 .6
1 1 .8
2,870.7
10.3
2,943.2
18.4
3,100.5
14.7
3,217.3
14.8
17.1
3,208.5
16.2
17.1
7
7.4
47.0
6.9
8
2,222.8
9
10
6
2 0 .0
0 .0
2 .0
2.3
6 .8
2,627.9
17.6
II
2,860.2
27.6
6.7
1.3
7.4
50.2
6.3
1.5
7.7
49.0
7.0
2,529.2
I
0 .0
2,751.3
27.5
13.0
1.5
6 .8
53.6
2,899.4
42.1
6.7
1 .8
7.5
49.2
6 .0
Imports of goods and services and income payments, ITAs........................................................................
Less: Gold, ITAs.........................................................................................................................................................
Statistical differences 1
11
0 .0
Other items.................
Plus: Gold, NIPAs...............
Adjustment for grossing of parent/affiliate interest payments......................................................................
Adjustment for U.S. territories and Puerto R ico............................................................................................
Imputed interest paid to rest of world..............................................................................................................
12
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
0 .0
13
14
1b
16
-5.1
7.7
33.5
7.0
-7.1
7.4
39.9
6.9
-5.9
-8.4
8.3
49.5
6.4
-7.8
37.1
7.5
-7.3
8.3
34.4
6.7
6 .6
- 8 .8
7.4
34.1
6.3
Equals: Imports of goods and services and income payments, NIPAs......................................................
17
2,462.1
2,870.2
2,847.9
2,902.5
2,980.5
3,120.4
3,224.4
3,206.5
Balance on goods and services and income, ITAs (1 -9 )................................................................................
Less: Gold (2-10+13)................................................................................................................................................
Statistical differences (3-11 ) 1 .........................................................................................................................
Other items (4 -1 2 )............................................................................................................................................
Plus: Adjustment for U.S. territories and Puerto Rico (6 -1 5 )...............................................................................
18
19
-253.3
-334.8
- 2.1
-349.4
-3.0
-341.5
2.4
-315.3
-9.2
-349.2
5.0
0 .0
0 .0
2 .0
0 .0
1 1 .2
-309.1
15.7
-10.4
2 2 .8
-357.1
4.0
-10.4
1.3
16.1
Equals: Net exports of goods and services and net receipts of income, NIPAs (8 -1 7 ).........................
-344.2
-335.9
-295.0
1. Consists of statistical revisions to the ITAs that have not yet been incorporated into the NIPAs
ITAs International transactions accounts
NIFAs National income and product accounts
0 .0
20
21
0 .0
0 .0
0 .0
22
1.5
15.5
23
-239.3
0 .0
0 .0
2 .0
0 .0
6 .8
1 .8
7.1
2.3
13.7
12.9
1.5
-8.3
-327.5
-335.0
-333.0
-315.8
6 .8
30.8
1.5
0 .0
-
1 0 .2
7.5
28.0
6 .0
1 .8
2 1 .2
D-93
February 2012
B. Suggested Reading
The Bureau o f Econom ic Analysis (BEA) has published
a w ealth o f inform ation about the m ethodologies that
are used to prepare its national, industry, interna
tional, and regional accounts. M ost of this inform ation
is available on BEA’s Web site at www.bea.gov.
National accounts
The national accounts encom pass the detailed esti
m ates in the national incom e and product accounts
(including gross dom estic product) and the estim ates
o f fixed assets and consum er durable goods.
National income and product accounts (NIPAs).
This series o f papers docum ents the conceptual fram e
work o f the NIPAs and the m ethodologies that are
used to prepare the estimates.
Concepts and Methods o f the U.S. National Income
and Product Accounts
“In tro d u ctory C hapters 1 -4 ” (2009)
“C hapter 5: Personal C onsum ption Expendi
tures” (2009)
“C hapter 6: Private Fixed Investm ent” (2010)
“C hapter 7: Change in Private Inventories”
(
2 0 1 0
)
“C hapter 8: N et Exports o f G oods and Services”
(
2 0 1 1
)
“C hapter 9: G overnm ent C onsum ption E xpendi
tures and Gross Investm ent (2011)
Corporate Profits: Profits Before Tax, Profits Tax
Liability, and Dividends (2002)
A n Introduction to National Income and Product
Accounts (2007)
M easuring the Economy: A Primer on GDP and the
National Income and Product Accounts (2 0 0 7 )
The following S u rvey articles describe the 2 0 0 9
com prehensive revision o f the NIPAs.
“Initial Results o f the 2009 C om prehensive NIPA
Revision” (August 2009)
“Im proved Estimates o f the N ational Incom e and
Product Accounts: Results o f the 2009 C om pre
hensive Revision” (Septem ber 2009)
Preview o f the 2009 Com prehensive NIPA Revision
Changes in D efinitions and Presentations (M arch
2009)
New Classifications for Personal C onsum ption
Expenditures (May 2008)
Statistical Changes (May 2009)
“Preview o f the Revised NIPA Estimates for 2002:
Effects o f Incorporating the 2002 B enchm ark 1-0
Accounts and Proposed D efinition and Statistical
Changes” (M arch 2008)
In addition, see the following articles.
“A nnual Revision o f the N ational Incom e and P rod
uct Accounts” (August 2011) presents revisions and
describes any changes in the data and the m ethods
used to prepare the estimates.
“U pdated Sum m ary o f NIPA M ethodologies” (N o
vem ber 2011) describes the source data and m ethods
th at are used to prepare the estimates.
“C hained-D ollar Indexes: Issues, Tips on T heir Use,
and U pcom ing Changes” (Novem ber 2003) discusses
the advantages o f using chain-w eighted indexes and
the challenges o f using chained dollars.
“Revisions to GDP, GDI, and Their M ajor C om po
nents” (July 2011) evaluates the principal NIPA esti
m ates by exam ining the record o f revisions to them .
“Gross D om estic Product: Revisions and Source
D ata” (February 2006) describes the categories o f data
that are used for the advance, prelim inary (now called
second), and final (now called third) quarterly esti
m ates o f GDP.
Fixed assets and consumer durable goods. Fixed
Assets and Consumer Durable Goods in the United
States, 1925-97 (2003) discusses the concepts and sta
tistical considerations th at underlie the estim ates and
their derivation.
“Fixed Assets and C onsum er D urable G oods for
1997-2010” (Septem ber 2011) describes the im prove
m ents that were incorporated into these estim ates as
p art o f the 2011 annual NIPA revision.
Satellite account. This account extends the analyti
cal capacity o f the NIPAs by focusing on the effects o f a
particular aspect o f econom ic activity on GDP.
“Research and D evelopm ent Satellite A ccount”
For 1959-2002 (D ecem ber 2006)
For 1959-2004 (O ctober 2007)
For 1959-2007 (Decem ber 2010)
Mission Statement and Strategic Plan
The mission statement of the Bureau of Economic
Analysis and its most recently updated strategic plan
for improving the accuracy, reliability, and relevance
of the national, industry, regional, and interna
tional accounts are available on BEA’s Web site at
www.bea.gov under “About BEA
D-94
A ppendix B
Industry accounts
The in d u stry accounts consist o f the annual industry
accounts (the in p u t-o u tp u t accounts and the gross d o
m estic p ro d u ct by industry accounts), the benchm ark
in p u t-o u tp u t accounts, and two satellite accounts.
Annual industry accounts. Measuring the Nations
Economy: An Industry Perspective (2011) provides an
overview of these accounts and how they can be used to
examine industry activity in the U.S. economy and to
track the flow of goods and services throughout the
economy.
Benchmark input-output accounts. Concepts and
Methods o f the U.S. Input-O utput Accounts (September
2006) describes the concepts and m ethods that underlie
the preparation of these accounts.
Satellite accounts. These accounts extend the ana
lytical capacity o f the in p u t-o u tp u t accounts by focus
ing on a particular aspect o f econom ic activity.
“U.S. Travel and Tourism Satellite A ccounts”
For 2004-2007 (June 2008)
For 2005-2008 (June 2009)
For 2004-2009 (Novem ber 2010)
For 2007-2010 (June 2011)
International accounts
The international accounts encom pass the in tern a
tional transactions accounts and the international in
vestm ent position accounts, direct investm ent, and
international transactions in services.
International transactions accounts and interna
tional investment position accounts. “A Guide to the
U.S. International Transactions Accounts and the U.S.
International Investm ent Position Accounts” (Febru
ary 2010) introduces these accounts.
U.S. International Transactions Accounts: Concepts
and Estimation Methods (2011) describes the m eth o d
ologies used to prepare the estimates. The m ethodol
ogy is usually updated and im proved as p a rt o f the
annual revisions o f the international transactions ac
counts. The updated and im proved m ethodology is
described in a series o f articles, the latest o f w hich was
published in the July 2 0 1 1 Survey.
“M odernizing and Enhancing BEA’s International
Econom ic Accounts: A Progress R eport” (May 2011)
updates BEA’s plans to introduce the new international
statistical standards from recently updated m anuals
an d its plans for changes that were included in the
2011 annual revision.
Direct investment. U pdated m ethodologies are
February 2012
available in U.S. Direct Investm ent Abroad: Final Results
From the 2004 Benchmark Survey (2008) and in Foreign
Direct Investm ent in the United States: Final Results
From the 2002 Benchmark Survey (2006).
A dditional im provem ents are described in the fol
lowing annual articles: “D irect Investm ent Positions:
C ountry and Industry D etail” (July) and “O perations
o f U.S. M ultinational C om panies” (August 2010) and
“O perations o f U.S. Affiliates o f Foreign Com panies”
(August 2011).
International services. The m ethodology used to
prepare the estim ates is usually updated and im proved
in a series o f articles, the latest o f which was published
in the O ctober 2011 Survey.
“Selected Issues in the M easurem ent o f U.S.
International Services” (June 2002) describes key is
sues in defining and m easuring insurance, wholesale
and retail trade, finance, construction, and utilities ser
vices.
Regional accounts
The regional accounts include estim ates o f personal in
com e and gross dom estic product.
Personal income. Estimates o f personal incom e are
prepared for states and for local areas.
State Personal Incom e and E m ploym ent (2011) d e
scribes th e detailed m eth o d o lo g y th a t is used to p re
pare th e q u arte rly an d an n u a l estim ates for the
states, th e D istrict o f C olum bia, th e eight BEA re
gions, an d th e U nited States.
Local Area Personal Incom e and E m ploym ent
(2011) describes th e detailed m eth o d o lo g y th a t is
used to p rep are th e estim ates for counties, m e tro
p o lita n areas, m e tro p o lita n divisions, m icro p o litan
areas, co m b in ed statistical areas, an d BEA eco n o m ic
areas an d regions.
Gross domestic product. E stim ates o f gross d o
m estic p ro d u c t (G D P) are p re p are d for states an d
m etro p o lita n areas.
Gross D om estic Product by State (2006) describes
the sources an d th e m eth o d s th a t are used to p re
pare th e estim ates.
“Gross D om estic P ro d u ct by State” (D ecem ber
2010) presents th e results o f the m o st recen t co m
prehensive revision.
“In tro d u c in g N ew M easures o f th e M etro p o litan
Econom y: P ro to ty p e Estim ates o f G D P by M e tro
p o lita n Area” (N ovem ber 2007) describes th e p o te n
tial uses o f the estim ates.
@FedFRASER