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BEA’s MONTHLY JOURNAL
JANUARY 2009
Survey of C urrent B usiness
In This Issue . . .
BEA Briefing: Toward Better Measurement of Innovation
and Intangibles
U.S. International Transactions, Third Quarter of 2008
Regional Quarterly Report
State Personal Income, Third Quarter of 2008
County Compensation by Industry, 2005-2007
a BEA
BUREAU OF ECONOMIC ANALYSIS
US. DEPARTMENT OF COMMERCE
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. Department of Commerce
Carlos M. Gutierrez, Secretary
Economics and Statistics Administration
Cynthia A. Glassman, Under Secretary for Economic Affairs
Bureau of Economic Analysis
J. Steven Landefeld, Director
Rosemary D. Marcuss, Deputy Director
Ana M. Aizcorbe, C hief Economist
Brian M. Callahan, C hief Information Officer
Dennis J. Fixler, C hief Statistician
Brent R. Moulton, Associate Director for National Economic Accounts
Brian C. Moyer, Associate Director for Industry Accounts
Joel D. Platt, Associate Director for Regional Economics
Obie G. Whichard, Associate Director for International Economics
BEA Advisory Committee
The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA’s national,
regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising from
innovative and advancing technologies, and it provides recommendations from the perspective of business economists, academicians,
researchers, and experts in government and international affairs.
Dale W. Jorgenson, Chair, Harvard University
Alan J. Auerbach, University o f California, Berkeley
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry R Bosworth, The Brookings Institution
Susan M. Collins, University o f Michigan
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University o f Maryland
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
Andrew D. Reamer, The Brookings Institution
James Kim, Editor-in-Chief
M. Gretchen Gibson, M anaging Editor
Kristina L. Maze, Production Manager
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Colby Johnson, Graphic Designer
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Survey of C urrent B usiness
January 2009
1
Volume 89 • Number 1
GDP and the Economy: Final Estimates for the Third Quarter of 2008
Real GDP decreased 0.5 percent after increasing 2.8 percent in the second quarter. Prices paid by
U.S. residents increased 4.5 percent after increasing 4.2 percent, reflecting accelerated food prices.
7
Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade
for the Third Quarter of 2008
These statistics, including those for inventories for manufacturing by stage of fabrication,
have been updated.
10
BEA Briefing: Toward Better Measurement of Innovation and Intangibles
This briefing discusses BEA’s ongoing efforts to better measure investment in innovative activity and
intangible assets. It notes the progress and the challenges of measuring investment in specific areas,
such as research and development.
24
U.S. International Transactions: Third Quarter of 2008
The U.S. current-account deficit decreased $6.9 billion to $174.1 billion in the third quarter from
$180.9 billion in the second quarter; the surpluses on income and services increased, and the deficit
on goods and net unilateral current transfers to foreigners decreased.
62
An Ownership-Based Framework of the U.S. Current Account, 1998-2007
This annual supplement to the international transactions accounts presents current-account
statistics that combine cross-border trade and net receipts of affiliates of multinational companies.
www.bea.gov
//'
65
January 2009
Regional Quarterly Report
The inaugural version of this report offers highlights of state personal income statistics for the third
quarter of 2008 and county compensation statistics by industry for 2005-2007.
D-1
BEA Current and Historical Data
Hi
Director’s Message
iv
Taking Account
BEA’s Web Site and Contacts (inside back cover)
Schedule of Upcoming News Releases (back cover)
Looking Ahead
Structures. A nontechnical look at how BEA accounts for investment in structures.
January 2009
Director’s Message______________
——
—
— — ....... .
■■MM—— 111.......... — — — ■■■■■!■■■■ ^
. .............. ...................................I II......I ■■■■■.................. . MM......................... ...■—
The Bureau of Economic Analysis (BEA) has a long tradition of
updating its statistics to better reflect the ever-changing economy.
Today, economists have increasingly pointed to the importance
of better measurement of the contribution of innovation to eco
nomic growth. Over time, BEA has updated its accounts to reflect
the impact of innovative activity in important ways. For example,
in the 1980s, we worked with I B M to develop quality-adjusted
computer price indexes; in the 1990s, we capitalized spending on
software; and in 2006, we launched a research and development
satellite account. A BEA Briefing in this issue of the S u r v e y o f
C u r r e n t B u s in e s s discusses BEA’s plans to address key areas of in
novation and how our core accounts might be affected.
Also this month, we’re pleased to launch a new Regional Quar
terly Report. The goal of the new report is to provide a vehicle for
discussing a wide range of regional economic issues on a regular
basis. In this inaugural version, personal income statistics for the
third quarter of 2008 and newly available county compensation
statistics for 2007 are discussed.
This issue includes a discussion of the “final” estimates of
gross domestic product for the third quarter of 2008 and balance
of payments statistics for the third quarter of 2008.
It also includes our annual presentation of the current account
from an ownership point of view. This supplemental presenta
tion counts the sales to foreigners that U.S. companies make
through their overseas subsidiaries as well as their sales to for
eigners directly from parent companies located in the United
States.
As always, we’re interested in feedback from our users. Please
contact us via the methods noted at www.bea.gov/contacts/
search.htm.
iv
January 2009
Taking Account...
Travel Spending Turns
Down in Third Quarter
Real spending on travel and
tourism turned down sharply in
the third quarter of 2008, ac
cording to recent estimates from
the Bureau of Economic Analy
sis (BEA) travel and tourism sat
ellite accounts. Spending at an
annual rate decreased 8.1 per
cent— the largest decline since
the fourth quarter of 2001. In
the second quarter, spending
grew 2.8 percent (revised).
By comparison, real gross do
mestic product declined at an
annual rate of 0.5 percent in the
third quarter of 2008 after grow
ing 2.8 percent in the second
quarter.
Passenger air transportation
led the travel and tourism down
turn, decreasing 20.4 percent in
the third quarter after decreasing
18.7 percent in the second quar
ter. Real spending on interna
tional flights fell sharply after
two quarters of strong demand;
spending on domestic flights de
clined for the fourth consecutive
quarter.
Spending on accommoda
tions turned down, decreasing
3.0 percent in the third quarter
after a strong 19.5 percent in
crease in the second quarter. Ho
tel occupancy fell and room
rates rose as more hotels elimi
nated discounts.
Retail shopping by travelers
dropped for only the second
time in the past 3 V2 years, fall
ing 6.9 percent in the third quar
ter after rising 4.7 percent in the
second quarter.
Travel and tourism prices ac
celerated, increasing 10.6 per
cent following a 6.2 percent
increase. Transportation prices
accelerated, increasing 18.4 per
cent after increasing 14.7 per
cent. Prices for accommodations
turned up, increasing 5.0 per
cent after decreasing 6.5 percent.
Employment supported di
rectly by tourist spending fell 1.2
percent in the second quarter
(the most recent period for
which data are available). In the
first quarter, employment grew
1.0 percent. By comparison,
overall U.S. employment de
creased 0.6 percent in the second
quarter of 2008 and 0.3 percent
in the first quarter.
Deputy Director Marcuss
Wins Service Award
Rosemary D. Marcuss, Deputy
Director of BEA, has been
awarded a 2008 Presidential
Rank Award as a Meritorious
member of the Federal Senior
Executive Service. The award is
presented annually to a select
group of federal executives for
sustained extraordinary accom
plishments.
Among her achievements are
fostering professional develop
ment of the BEA staff; expand
ing outreach to the users of
BEA’s statistics, especially users
in the business community; and
bringing to BEA’s written mate
rial, including the S u r v e y o f
C u r r e n t B u s i n e s s , clearer, more
accessible exposition.
Marcuss’s innovative solu
tions helped enable BEA to con
sistently implement its 5-year
strategic plan and the President’s
Management Agenda.
Under Marcuss’s direction,
both the U.S. Office of Manage
ment and Budget and the U.S.
Office of Personnel Manage
ment recognized BEA’s exem
plary performance record with
some of the highest ratings in
the federal government.
Marcuss oversees the mod
ernization of BEA’s statistical
production and dissemination
infrastructure and the opera
tion of the BEA Web site. Under
her leadership, the Web site has
garnered customer satisfaction
scores that rank among the
highest in the government ac
cording to the University of
Michigan American Satisfaction
Index. In 2006, as Acting Chief
Economist of BEA, she managed
the production of the first BEA
research and development satel
lite account.
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1
January 2009
GDP and the Economy
Final Estimates for the Third Quarter of 2008
EAL GROSS domestic product (GDP) decreased
0.5 percent in the third quarter after increasing 2.8
percent in the second quarter, according to the “final”
estimates of the national income and product accounts
(chart 1 and table l ) .1 The rate of change in GDP was
unrevised from the “preliminary” estimate (page 3).2
The downturn in real GDP primarily reflected a
sharp downturn in consumer spending, a deceleration
in exports, a smaller decrease in imports, a decelera
tion in nonresidential structures, a larger decrease in
equipment and software, and a deceleration in state
and local government spending.3 In contrast, inven
tory investment turned up, and federal government
spending accelerated.
• Prices of goods and services purchased by U.S. resi
dents increased 4.5 percent after increasing 4.2 per
cent. Food prices accelerated, and energy prices
decelerated. Excluding food and energy, gross
domestic purchases prices increased 2.8 percent
after increasing 2.2 percent.
• Real disposable income (DPI) decreased 8.8 percent
after increasing 10.7 percent. The downturn
reflected a downturn in current-dollar DPI that
resulted from a deceleration in personal income and
an upturn in personal current taxes; both primarily
reflected the second-quarter effects of the rebates
from the Economic Stimulus Act of 2008.4
• The personal saving rate, personal saving as a per
centage of current-dollar DPI, was 1.2 percent; in
the second quarter, it was 2.5 percent.
• Profits from current production decreased $18.5
billion, or 1.2 percent at a quarterly rate, after
decreasing $60.2 billion.
R
1. “Real” estimates are in chained (2000) dollars, and price indexes are
chain-type measures.
2. Each GDP estimate for a quarter (advance, preliminary, and final)
incorporates increasingly comprehensive and improved source data. More
information can be found at www.bea.gov/bea/about/infoqual.htm and
www.bea.gov/bea/faq/national/gdp_accuracy.htm. Quarterly estimates are
expressed at seasonally adjusted annual rates, which assumes that a rate of
activity for a quarter is maintained for a year.
3. In this article, “consumer spending” refers to the NIPA series “personal
consumption expenditures,” “inventory investment” refers to “change in
private inventories,” and “government spending” refers to “government
consumption expenditures and gross investment.”
4. For more information about these rebates, see FAQ 490 on BEA’s Web
site.
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter
2004
2007
2008
N o n re s id e n tia l fix e d in v e stm e n t
R e s id e r ^ J f o g H iv e s t m e n t
;Invento ry in v e s tm e n t
;E x p o rts
i Im p o rts
:G ove rn m e n t; s p e n d in g
-3
-
2
1
0
Percentage points at an annual rate
1
Prices: Percent change from the preceding quarter
2004
2005
2006
2007
2008
Real DPI: Percent change from the preceding quarter
12
10
8
6
4
2
0
-2
-4
-6
-8
2004
2006
C o n s u m e r s p e n d in g
-1 0
Christopher Swann prepared this article.
2005
Contributions to the percent change in real GDP in 2008:111
J ___ I
I
2005
U.S. Bureau of Economic Analysis
J ___ I___ L
2006
J___ L
2007
2008
GDP and the Economy
2
January 2009
Real GDP Overview
Table 1. Real Gross Domestic Product and Components
Consumer spending turned down sharply in the third
quarter, decreasing 3.8 percent after increasing 1.2
percent. The decrease, the largest since the second
quarter of 1980, reduced the third-quarter percent
change in real GDP by 2.75 percentage points. It re
flected a downturn in nondurable goods, a larger de
crease in durable goods, and a downturn in services.
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
2008
2007
III
IV
-0.2
II
0.9
Gross dom estic p ro d u c t1 ...
100.0
70.5
1.0
0.9
Durable goods.............................
Nondurable goods......................
Services......................................
7.1
21.1
42.3
0.4
03
14
-4.3
-0 4
?4
14.0 -11.9
14.3 -6.2
2007
2008
I
Personal consum ption
expenditures..............................
Gross private dom estic
in vestm ent.................................
Fixed investment........................
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2008
III
IV
I
II
2.8
-0.5
-0.2
0.9
2.8
1.2
-3 .8
0.67
0.61
-2.8 -14.8
3 9 -7 1
0 7 -0 1
-5.8 -11.5
-5.6 -1.7
III
-0.5
0.87 -2.75
0.03 -0.33 -0.21 -1.16
0.05 -0.08
0.80 -1.57
1.02 0.28 -0.03
0.59
0.4 -1.93 -0.89 -1.74
0.06
-5.3 -0.97 -0.86 -0.25 -0.79
Nonresidential........................
11.0
3.4
2.4
2.5
-1.7
0.36
Structures............................
Equipment and software....
4.0
7.0
8.5
1.0
8.6
-0.6
18.5
-5.0
9.7
-7.5
0.29 0.30 0.64 0.36
0.07 -0.04 -0.37 -0.55
Residential..............................
3.3 -27.0 -25.1 -13.3 -16.0 -1.33
Change in private inventories....
-0.3
Net exports o f goods and
services......................................
-4.9
Exports........................................
13.7
4.4
5.1
Goods......................................
Services..................................
9.5
4.1
5.1
2.7
4.5
6.4
-
0.26
-
0.27 -0.19
1.12 -0.52 - 0 .6 0 '
0.96 -0.02 -1.50
0.94
0.77
2.93
1.05
12.3
0.53
0.63
1.54
0.40
16.3
3.8
3.7
1.4
0.43
0.10
0.39
0.24
1.39
0.15
0.34
0.06
0.14
1.39
0.65
Imports.........................................
18.6
-2.3
-0.8
-7.3
-3.5
0.40
Goods......................................
Services..................................
15.6
3.0
-2.6
-0.9
-2.0
5.5
-7.1
-8.0
-4.7
3.3
0.38 0.29
0.02 -0.15
1.14 0.74
0.25 -0.09
Government consum ption
expenditures and gross
in vestm ent.................................
20.4
0.8
1.9
3.9
0.16
0.38
0.78
1.141
Federal........................................
7.6
-0.5
5.8
6.6
13.8 -0.04
0.41
0.47
0.97
National defense....................
Nondefense.............................
5.3
2.3
-0.9
0.4
7.3
2.9
18.0 -0.04
0.01
5.1
0.34
0.06
0.36
0.11
0.85
0.12
State and local............................
12.8
16
-0 3
7.3
5.0
?5
0.19 -0.03
0.31
0.17
0.79
4.32 -1.35
13
Addenda:
Final sales of domestic product
0.8
nq
44
-1 3
Gross domestic purchases price
index........................................
4.0
3.5
4.2
4.5
GDP price index..........................
2.8
2.6
1.1
3.9
0.89
Residential investment decreased more than in the
second quarter, subtracting 0.60 percentage point
from the third-quarter percent change in real GDP af
ter subtracting 0.52 percentage point.
0.84
3.0
5.8
Nonresidential fixed investment turned down, reflect
ing a notable deceleration in structures and a larger
decrease in equipment and software. The downturn
subtracted 0.19 percentage point from the percent
change in real GDP after adding 0.27 percentage
point.
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 NIFA table 1.1.10.
Inventory investment turned up, adding 0.84 percent
age point to the percent change in real GDP after sub
tracting 1.50 percentage points.
Exports slowed, mainly reflecting a deceleration in ex
ports of goods. Industrial supplies and materials
slowed, and “other” goods exports turned down. Ex
ports of services decelerated.
Imports decreased less than in the second quarter, pri
marily reflecting a much smaller third-quarter de
crease in petroleum and petroleum products. Imports
of services turned up.
Government spending accelerated, mainly reflecting a
sharp acceleration in federal spending for national de
fense. State and local government spending slowed.
GDP and Gross Domestic Purchases
In addition to gross domestic product (GDP), another
related measure of economic growth—gross domestic pur
chases— is included in the national income and product
accounts (NIPAs).
GDP measures the market value of final goods and ser
vices produced by labor and property in the United States,
including the goods that are added to, or subtracted from,
inventories. GDP is defined as the sum of consumer spend
ing, business and residential investment, inventory invest
ment, government spending, and exports less imports.
Gross domestic purchases is defined as GDP less exports
plus imports. It measures domestic demand for goods and
services regardless of their origin. Exports represent foreign
demand for U.S. goods and services. Subtracting exports
from GDP yields a measure of expenditures that focuses on
domestic buyers. Imports can be viewed as the value of
goods and services that exceed the domestic supply and
that expand the consumption and investment alternatives
for domestic purchasers.
Differences between GDP and gross domestic purchases
reflect patterns in imports less exports: As imports exceed
exports, gross domestic purchases exceeds GDP.
For annual and quarterly estimates of these measures, see
NIPA tables 1.4.1 and 1.4.3-1.4.6.
See also “A Guide to the National Income and Product
Accounts of the United States” at www.bea.gov/bea/an/
nipaguid.pdf. For a related discussion about GDP prices
and gross domestic purchases prices, see FAQ 499.
January 2009
S u rv ey o f C u rren t B usiness
3
Revisions to GDP
Table 2. Preliminary and Final Estimates for the Third Quarter of 2008
[Seasonally adjusted at annual rates]
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding quarter
(percent)
Prelim
inary
Final
minus
prelim
inary
Final
Prelim
inary
Final
Final
minus
prelim
inary
Gross dom estic product (GDP)1................
-0.5
-0.5
0.0
-0.5
-0.5
0.0
Personal consum ption expenditures................
-3.7
-3.8
-0.1
-2.69
-2.75
-0.06
Durable goods.....................................................
Nondurable goods...............................................
S ervices...............................................................
-15.2
-6.9
0.0
-14.8
-7.1
-0.1
0.4
-0.2
-0.1
-1.19
-1.51
0.00
-1.16
-1.57
-0.03
0.03
-0.06
-0.03
Gross private dom estic in vestm ent..................
Fixed investment.................................................
Nonresidential.................................................
0.4
-5.6
-1.5
0.4
-5.3
-1.7
0.0
0.3
-0.2
0.06
-0.82
-0.16
0.06
-0.79
-0.19
0.00
0.03
-0.03
Structures....................................................
6.6
9.7
3.1
0.25
0.36
0.11
-0.14
Equipment and software.............................
-5.7
-7.5
-1.8
-0.41
-0.55
Residential.......................................................
-17.6
-16.0
1.6
-0.66
-0.60
0.06
Change in private inventories.............................
0.89
0.84
-0.05
Net exports of goods and s e rv ic e s...................
1.07
1.05
-0.02
Exports.................................................................
3.4
3.0
-0.4
0.46
0.40
-0.06
Goods...............................................................
Services............................................................
3.9
2.4
3.7
1.4
-0.2
-1 .0
0.36
0.10
0.34
0.06
-0.02
-0.04
Imports.................................................................
-3.2
-3.5
-0.3
0.61
0.65
0.04
Goods..............................................................
-4.4
-4 .7
-0.3
0.70
0.74
0.04
Services...........................................................
3.2
3.3
0.1
-0.09
-0.09
0.00
Government consum ption expenditures and
gross investm ent...............................................
Federal.................................................................
National defense..............................................
Nondefense.....................................................
State and lo cal....................................................
5.4
13.6
18.0
4.5
0.8
5.8
13.8
18.0
5.1
1.3
0.4
0.2
0.0
0.6
0.5
1.06
0.96
0.85
0.10
0.10
1.14
0.97
0.85
0.12
0.17
0.08
0.01
0.00
0.02
0.07
Addenda:
Final sales of domestic product.........................
-1.4
-1.3
0.1
-1.40
-1.35
0.05
Gross domestic purchases price index.............
4.7
4.5
-0.2
GDP price index..................................................
4.2
3.9
-0.3
The final estimate of the third-quarter real GDP de
cline was the same as the preliminary estimate. Up
ward revisions to nonresidential structures and to
farm inventory investment were offset by downward
revisions to private nonfarm inventory investment
and to equipment and software. The average revision
(without regard to sign) from the preliminary esti
mate to the final estimate is 0.3 percentage point.
The upward revision to nonresidential structures was
primarily to power and communication structures
and to manufacturing structures.
The downward revision to equipment and software
primarily reflected a downward revision to prepack
aged software.
The downward revision to inventory investment was
primarily to wholesale trade and to retail trade inven
tories; the revision was partly offset by an upward re
vision to farm crop inventories.
1. The estimates for GDP under the contribution columns are also percent changes.
Source Data for the Final Estimates
The final estimates of gross domestic product for the third
quarter of 2008 incorporated the following source data.
Personal consumption expenditures: Retail sales for Sep
tember (revised) and quarterly services survey for the
third quarter (new), motor vehicle registrations for Sep
tember (revised) and electricity sales data for September
(revised).
Nonresidential fixed investment. Construction spending
(value put in place) for August and September (revised)
and quarterly services survey for the third quarter (new).
Residential fixed investment: Construction spending
(value put in place) for August and September (revised).
Change in private inventories: Crop market sales data for
September (new) and manufacturers’ and trade invento
ries for September (revised).
Exports and imports o f goods and services: International
transactions accounts data for services for July-September
(revised) and data for goods for September (revised).
Government consumption expenditures and gross invest
ment: State and local government construction spending
(value put in place) for August and September (revised).
GDP prices: Export and import prices for luly, August,
and September (revised), unit value index for petroleum
imports for September (revised), and prices of single
family houses under construction for the third quarter
(revised).
4
GDP and the Economy
January 2009
Corporate Profits
Table 3. Corporate Profits
Profits from current production decreased $18.5 bil
lion, or 1.2 percent at a quarterly rate, in the third
quarter after decreasing $60.2 billion. Third-quarter
profits were reduced by $46.2 billion because of Hurri
cane Ike: benefit payments by insurance companies re
duced profits by $22.0 billion, and uninsured losses
reduced profits by $24.2 billion.
[Seasonally adjusted]
Billions of dollars (annual rate)
Percent change from
preceding quarter
(quarterly rate)
Change from
preceding quarter
Level
2008
2007
2007
III
IV
I
1,514.80
-57.2
-17.6
Domestic industries................ 1,136.40 -122.2
5.4
-75.5 -15.7
2008
2008
III
IV
I
-60.2
-18.5
-3.4
-1.1
-3.8
-1.2
-35.3
-23.4
-9.3
0.4
-3.0
-2.0
II
II
III
Current production measures:
Corporate profits........................
Financial..............................
301.10
-69.0
37.3
-31.0
10.1
-7.6 -2 0 .0 '
Nonfinancial....................
835.30
-53.1
-32.1
-4.2
52.1
-6.1
-3.9
-0.5
6.7
Rest of the w orld....................
378.40
64.9
-22.8
-25.0
4.9
18.2
-
5.4
-6.3
1.3 N
555.30
24.7
3.7
8.9
-10.4
4.7
0.7
1.6
-1.8
176.90
-40.2
26.5
33.9
-15.3 -23.4
20.1
21.4
-8.0
393.50
-17.6
-30.6
3.9
3.9
-7.0
1.0
-3.3
Receipts from the rest of
the world.........................
Less: Payments to the rest
of the world.....................
Less: Taxes on corporate
income.................................
Equals: Profits after tax.............. 1 . 121.30
Net dividends.........................
841.10
Undistributed profits from
current production..............
280.30
Net cash flo w .............................. 1,319.60
-13.3
-
39.7
13.0
64.1
-
5.2
-3.3
1.1
-5 .4
-0.5
18.8
16.1
13.9
-5.3
2.4
2.0
1.7
-0.6
-
58.5
-3.1
-78.1
0.3 -13.9
-0.9
21.8
0.1
-
44.5
10.1
-
-3.2
0.8
-4.5
3.4
-
-
60.5
43.1
Note. Levels of these and other profits series are shown in NIPA tables 1.12,1.14,1.15, and 6.16D.
Profits of domestic financial corporations decreased
$75.5 billion, or 20.0 percent, after decreasing $31.0
billion.
Profits of domestic nonfinancial corporations in
creased $52.1 billion, or 6.7 percent, after decreasing
$4.2 billion.
Profits from the rest of the world increased $4.9 bil
lion, or 1.3 percent, after decreasing $25.0 billion.
Taxes on corporate income decreased $13.3 billion, or
3.3 percent, after increasing $3.9 billion.
After-tax profits decreased $5.2 billion, or 0.5 percent,
after decreasing $64.1 billion.
Undistributed corporate profits (a measure of net sav
ing that equals after-tax profits less dividends) in
creased $0.3 billion, or 0.1 percent, after decreasing
$78.1 billion.
Net cash flow, a profits-related measure of internally
generated funds available for investment, increased
$43.1 billion, or 3.4 percent, after decreasing $60.5 bil
lion.
Measuring Corporate Profits
Corporate profits is a widely followed economic indicator
used to gauge corporate health, assess investment condi
tions, and analyze the effect on corporations of economic
policies and conditions. In addition, corporate profits is an
important component in key measures of income.
BEA’s measure of corporate profits aims to capture the
income earned by corporations from current production
in a manner that is fully consistent with the national
income and product accounts (NIPAs). The measure is
defined as receipts arising from current production less
associated expenses. Receipts exclude income in the form
of dividends and capital gains, and expenses exclude bad
debts, natural resource depletion, and capital losses.
Because direct estimates of NIPA-consistent corporate
profits are unavailable, BEA derives these estimates in
three steps.
First, BEA measures profits before taxes to reflect corpo
rate income regardless of any redistributions of income
through taxes. This measure is partly based on tax return
information from the Internal Revenue Service; BEA uses
tax accounting measures as a source of information on
profits for two reasons: They are based on well-specified
accounting definitions, and they are comprehensive, cover
ing all incorporated businesses—publicly traded and pri
vately held—in all industries. BEA also uses other sources
of information to estimate pretax profits, including infor
mation from the Census Bureau.
Second, to remove the effects of price changes on inven
tories valued at historical cost and of tax accounting for
inventory withdrawals, BEA adds an inventory valuation
adjustment that values inventories at current cost.
Third, to remove the effects of tax accounting on depre
ciation, BEA adds a capital consumption adjustment
(CCAdj). CCAdj is defined as the difference between con
sumption of fixed capital (the decline in the value of the
stock of assets due to wear and tear, obsolescence, acciden
tal damage, and aging) and capital consumption allow
ances (tax return depreciation).
January 2009
5
S u rv ey of C u rren t B usiness
Corporate Profits by Industry
Table 4. Corporate Profits by Industry
Profits with inventory valuation adjustment increased
$6.8 billion, or 0.4 percent at a quarterly rate, in the
third quarter after decreasing $45.5 billion in the sec
ond quarter. The difference between the third-quarter
decrease in this measure of profits and the $18.5 bil
lion decrease in profits from current production re
flects the capital consumption adjustment, which
decreased $25.3 billion.
[Seasonally adjusted]
Billions of dollars (annual rate)
Percent change from
preceding quarter
(quarterly rate)
Change from
preceding quarter
Level
2008
2007
III
IV
2007
2008
I
II
III
2008
IV
I
II
III
Industry profits:
Profits with IVA....................
Domestic industries........
-45.9 -178.7
-45.5
6.8
-2.5
-9.8
-2.8
0.4
1,224.4 -110.8 -155.8
-20.6
1.9
-7.3
-11.1
-1.7
0.2-
1,602.8
Financial......................
308.8
-67.9
20.4
-29.6
-74.4
-14.7
5.2
-7.2
-19.4
Nonfinancial.................
915.6
-42.8 -176.3
9.1
76.3
-4.1
-17.5
1.1
9.1
Utilities.....................
Manufacturing.........
Wholesale trade......
Retail tra d e..............
Transportation and
warehousing........
Information...............
Other nonfinancial...
Rest of the w orld.............
59.1
272.6
92.1
86.2
4.5
-14.5
-28.9
-1.5
-17.0
-51.6
-31.0
-12.5
10.5
-25.6
10.2
-19.3
2.4
57.7
32.7
-6.5
7.7
-4.7
-26.5
-1.2
-26.9
-17.7
-38.7
-10.1
22.8
-10.6
20.7
-17.3
4.1
26.8
55.1
-7.0
25.2
103.8
276.6
378.4
-9.3
9.5
-2.6
64.9
-13.3
-11.9
-38.9
-22.8
0.4
9.0
23.8
-25.0
0.4
-11.2
0.8
4.9
-19.9
8.8
-0.9
18.2
-35.4
-10.1
-13.4
-5.4
1.9
8.5
9.4
-6.3
1.7
-9.7
0.3
1.3
Addenda:
Profits before tax (without
IVA and CCAdj)............... 1,693.7
Profits after tax (without IVA
and CCAdj)...................... 1,300.1
-90.9
-2.8 -143.4
-0.9
-56.3
-0.1
-7.6
-0.1
-3.2
14.8 -112.9
-43.1 -35.3
-4.8
-44.6
-43.1
63.1
1.0
-7.7
-0.4
-3.2
CCAdj...................................
-11.4
-14.7
-25.3
-88.0
161.2
Profits of domestic industries increased $1.9 billion,
or 0.2 percent, after decreasing $20.6 billion.
Profits of domestic financial industries decreased
$74.4 billion, or 19.4 percent, after decreasing $29.6
billion.
Profits of domestic nonfinancial industries increased
$76.3 billion, or 9.1 percent, after increasing $9.1 bil
lion. The acceleration mainly reflected an upturn in
the profits of manufacturing industries and an accel
eration in the profits of wholesale trade industries. In
contrast, profits of utilities industries slowed, and
profits of information industries turned down. Profits
of “other” nonfinancial industries also slowed.
N ote. Levels of these and other profits series are shown in NIPA tables 1.12,1.14,1.15, and 6.16D.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
Chart 2. Corporate Profits With Inventory Valuation Adjustment: Change From the Preceding Quarter, 2008:111
Billions of dollars
75
50
25
0
I
-2 5
-5 0
-7 5
-1 00
Total
Domestic
financial
U tilities
M anufacturing
W holesale
Retail
Transportation1 Information
O th e r2
Rest of world
D om estic nonfinancial
1. Includes warehousing.
2. “Other” nonfinancial corporations include the agriculture, mining, construction, and services industries.
N o t e . Based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
Corporate Profits by Industry
Industry profits are corporate profits by industry with
inventory valuation adjustment (IVA). The IVA removes
the effect of prices on inventories. The IVA is the difference
between the cost of inventory withdrawals at acquisition
cost and replacement cost. Ideally, BEA would also add the
capital consumption adjustment (CCAdj) for each indus
try. However, estimates of the CCAdj are only available for
two broad categories: Total financial industries and total
nonfinancial industries. For more information about BEA’s
methodology, see “Corporate Profits: Profits Before Tax,
Profits Tax Liability, and Dividends” at www.bea.gov/bea/
mp_national.htm.
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7
January 2009
Real Inventories, Sales, and Inventory-Sales Ratios
for Manufacturing and Trade for the Third Quarter of 2008
This report presents quarterly estimates for the second
and third quarters of 2008 and monthly estimates for
May to October 2008.
Tables IB, 2B, 3B, and 4B present chain-weighted
estimates. Table IB presents inventories. Table 2B pre
sents sales. Table 3B presents inventory-sales ratios that
can be used to assess the likelihood that businesses will
add to, or reduce, inventories in response to changes in
demand; these ratios supplement the quarterly current-dollar and real estimates of ratios of inventories to
final sales of domestic business, nonfarm business, and
goods and structures presented in NIPA tables 5.7.5B
and 5.7.6B. Table 4B presents estimates of manufactur
ing inventories by stage of fabrication.
The estimates for 1967 forward are available in
interactive
tables
on
BEA’s Web
site
at
www.bea.gov. Click on “Gross Domestic Product,” and
under “Supplemental Estimates,” click on “Underlying
detail tables” and then on “List of Underlying Detail
Tables.”
Table 1B. Real Manufacturing and Trade Inventories, Seasonally Adjusted, End of Period
[Billions of chained (2000) dollars]
2008
II
2008
III
May
June
July'
Aug.r
Sept.'
Oct.p
Manufacturing and trade industries.................................................................
1,272.3
1,269.9
1,272.9
1,272.3
1,275.9
1,273.8
1,269.9
1,268.4
Manufacturing..................................................................................................................
Durable goods.............................................................................................................
Wood products...........................................................................................................
Nonmetallic mineral products..
Primary m etals........................
Fabricated metal products......
Machinery.................................
Computer and electronic products
Electrical equipment, appliances, and components...............................................
Transportation equipment.......
Furniture and related products
Miscellaneous manufacturing..
Nondurable goods.....................
Food products...........................
Beverage and tobacco products
Textile mills................................
Textile product mills..................
Apparel.....................................
Leather and allied products....
Paper products........................
Printing and related support activities
Petroleum and coal products....................................................................................
Chemical products.....................................................................................................
Plastics and rubber products....................................................................................
460.5
283.5
9.7
9.5
17.7
31.2
36.6
64.8
12.6
78.3
7.0
18.4
177.5
31.1
12.2
4.7
3.3
7.2
1.3
16.4
6.5
19.1
53.3
19.7
454.1
282.1
9.9
9.3
18.1
30.7
35.7
64.9
12.5
78.0
6.9
18.2
173.0
30.1
12.2
4.8
3.4
7.1
1.3
16.1
6.1
18.3
52.3
19.4
461.1
284.8
9.8
9.6
17.8
31.5
37.0
65.1
12.6
78.1
7.2
18.3
176.9
31.3
12.3
4.8
3.4
7.2
1.4
16.5
6.6
18.3
54.1
19.8
460.5
283.5
9.7
9.5
17.7
31.2
36.6
64.8
12.6
78.3
7.0
18.4
177.5
31.1
12.2
4.7
3.3
7.2
1.3
16.4
6.5
19.1
53.3
19.7
458.3
282.7
9.8
9.4
17.6
31.0
36.2
64.8
12.5
78.5
7.0
18.3
176.1
30.7
12.2
4.8
3.4
7.2
1.3
16.2
6.3
18.9
53.0
19.7
457.9
282.5
9.8
9.3
17.9
30.8
35.9
65.1
12.5
78.5
6.9
18.1
176.0
30.2
12.2
4.8
3.4
7.2
1.3
16.2
6.2
19.1
53.0
19.9
454.1
282.1
9.9
9.3
18.1
30.7
35.7
64.9
12.5
78.0
6.9
18.2
173.0
30.1
12.2
4.8
3.4
7.1
1.3
16.1
6.1
18.3
52.3
19.4
453.9
284.0
9.9
9.4
18.5
30.7
35.7
65.3
12.5
79.0
6.8
18.3
171.1
30.2
12.2
4.8
3.4
7.1
1.3
16.2
6.0
17.0
52.6
19.4
Merchant wholesale tra d e.............................................................................................
Durable goods...............................................................................................................
Nondurable goods.........................................................................................................
352.6
221.1
132.4
356.7
227.1
131.3
352.1
221.2
131.9
352.6
221.1
132.4
355.0
223.7
132.5
356.7
226.0
132.2
356.7
227.1
131.3
355.7
226.8
130.6
Retail trade........................................................................................................................
Motor vehicle and parts dealers...................................................................................
Furniture and home furnishings and electronics and appliance stores....................
Building material and garden equipment and supplies stores...................................
Food and beverage stores.............................................................................................
Clothing and clothing accessories stores....................................................................
General merchandise stores........................................................................................
Other retail stores..........................................................................................................
457.8
146.7
35.6
46.7
33.6
37.4
72.6
84.4
458.7
147.9
35.9
46.7
33.8
37.4
72.4
84.0
458.3
146.4
35.5
47.0
33.6
37.5
72.8
84.6
457.8
146.7
35.6
46.7
33.6
37.4
72.6
84.4
462.1
150.5
36.0
46.6
33.6
37.6
72.7
84.8
458.1
147.8
35.9
46.7
33.6
37.4
71.9
84.2
458.7
147.9
35.9
46.7
33.8
37.4
72.4
84.0
458.4
147.8
35.9
46.3
33.9
37.3
72.5
84.1
p Preliminary
dollar change in inventories for 2000 equals the current-dollar change in inventories for 2000 and
r Revised
that the average of the 1999 and 2000 end-of-year chain-weighted and fixed-weighted inventories
Note. Estimates in this table are based on the North American Industry Classification System
are equal. Because the formula for the chain-type quantity indexes uses weights of more than one
(NAICS). Chained (2000) dollar inventory series are calculated to ensure that the chained (2000)
period, the corresponding chained-dollar estimates are usually not additive.
Real Inventories and Sales
January 2009
Table 2B. Real Manufacturing and Trade Sales, Seasonally Adjusted at Monthly Rate
[Billions of chained (2000) dollars]
2008
2008
III
II
May
June
Julyr
Aug.'
Sept.r
Oct.p
Manufacturing and trade industries........................................................
962.8
936.2
962.7
960.6
951.5
939.0
918.1
922.6
Manufacturing.........................................................................................................
Durable goods.....................................................................................................
Wood products..................................................................................................
Nonmetallic mineral products..........................................................................
Primary metals..................................................................................................
Fabricated metal products................................................................................
Machinery..........................................................................................................
Computer and electronic products..................................................................
Electrical equipment, appliances, and components......................................
Transportation equipment.................................................................................
Furniture and related products........................................................................
Miscellaneous manufacturing
Nondurable goods...............
Food products.....................
Beverage and tobacco products
Textile m ills........................................................................................................
Textile product m ills.
Apparel....................
Leather and allied products
Paper products..........
Printing and related support activities............................................................
Petroleum and coal products...........................................................................
Chemical products.............................................................................................
Plastics and rubber products...........................................................................
332.5
185.7
7.4
6.9
11.4
20.9
23.6
44.0
8.2
48.3
5.3
11.4
146.7
34.6
9.5
2.5
2.1
2.9
0.5
11.8
7.7
20.0
39.2
14.8
318.6
181.3
7.3
6.8
11.1
20.4
23.4
43.0
8.1
46.6
5.1
11.0
138.3
33.7
9.5
2.5
2.0
2.9
0.5
11.8
7.5
17.7
36.7
14.4
331.3
184.5
7.3
6.9
11.3
20.8
23.5
44.1
8.2
47.4
5.3
11.5
146.6
34.4
9.5
2.5
2.2
2.9
0.5
11.7
7.6
20.2
39.1
14.7
329.9
184.2
7.4
6.9
11.3
20.8
23.3
42.5
8.2
48.4
5.3
11.2
145.6
34.3
9.5
2.5
2.1
2.9
0.5
11.8
7.6
19.5
39.5
14.9
329.5
187.5
7.4
6.9
11.5
20.9
23.5
45.1
8.4
49.2
5.2
11.3
143.0
34.0
9.6
2.6
2.1
3.0
0.5
11.9
7.7
18.9
38.2
14.7
318.5
178.4
7.2
6.7
11.0
20.2
23.2
42.5
8.0
45.0
5.1
11.0
140.2
33.5
9.5
2.5
2.0
2.9
0.5
11.8
7.4
18.7
37.0
14.3
307.8
177.9
7.1
6.7
10.9
20.0
23.5
41.6
7.9
45.8
5.0
10.7
131.6
33.6
9.4
2.4
1.9
2.9
0.5
11.6
7.4
15.5
35.0
14.2
310.4
174.0
7.3
6.5
10.2
19.8
22.7
43.0
7.9
43.2
4.8
10.6
136.6
34.1
9.4
2.4
1.9
2.8
0.5
11.3
7.4
18.3
35.3
13.7
Merchant wholesale trade.....................................................................................
Durable goods.......................................................................................................
Nondurable goods.................................................................................................
279.8
154.8
127.3
275.6
151.7
125.9
279.9
153.9
128.0
281.3
155.6
128.0
276.9
154.1
125.4
277.2
150.6
128.0
272.6
150.5
124.2
279.1
146.7
132.3
Retail tra d e ...............................................................................................................
Motor vehicle and parts dealers..........................................................................
Furniture and home furnishings and electronics and appliance stores............
Building material and garden equipment and supplies stores...........................
Food and beverage stores....................................................................................
Clothing and clothing accessories stores...........................................................
General merchandise stores................................................................................
Other retail stores..................................................................................................
356.0
77.2
35.4
32.1
42.7
21.8
58.7
92.2
346.6
72.0
34.6
31.4
42.3
21.2
58.4
90.4
357.5
77.6
35.7
32.4
42.6
21.9
58.9
92.6
354.6
75.6
35.3
32.1
42.7
21.9
59.1
91.9
349.8
72.4
35.3
32.1
42.4
21.7
58.9
91.0
347.9
73.6
34.4
31.3
42.4
21.4
58.4
90.1
342.2
69.9
34.2
31.0
42.0
20.6
57.9
90.1
336.2
66.6
34.0
30.8
41.8
20.4
57.9
88.2
p Preliminary
Chained (2000) dollar sales are calculated as the product of the chain-type quantity index and the
r Revised
2000 current-dollar value of the corresponding series, divided by 100. Because the formula for the
Note. Estimates in this table are based on the North American Industry Classification System
chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar
(NAICS).
estimates are usually not additive.
Table 3B. Real Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on chained (2000) dollars]
2008
II
2008
III
May
June
July'
Aug.'
Sept.’
Oct.p
Manufacturing and trade industries........................................................
1.32
1.36
1.32
1.33
1.34
1.36
1.38
1.38
Manufacturing....
Durable goods
Wood products
Nonmetallic mineral products..........................................................................
Primary m etals..................................................................................................
Fabricated metal products................................................................................
Machinery..........................................................................................................
Computer and electronic products..................................................................
Electrical equipment, appliances, and components......................................
Transportation equipment...
Furniture and related products
Miscellaneous manufacturing
Nondurable goods...............
Food products.....................
Beverage and tobacco products......................................................................
Textile m ills........................................................................................................
Textile product m ills ..........................................................................................
Apparel...............................................................................................................
Leather and allied products..............................................................................
Paper products..................................................................................................
Printing and related support activities............................................................
Petroleum and coal products...........................................................................
Chemical products.............................................................................................
Plastics and rubber products...........................................................................
1.39
1.53
1.31
1.37
1.55
1.49
1.55
1.47
1.55
1.62
1.33
1.62
1.21
0.90
1.29
1.89
1.56
2.48
2.55
1.39
0.84
0.95
1.36
1.33
1.43
1.56
1.37
1.38
1.63
1.51
1.53
1.51
1.55
1.67
1.35
1.66
1.25
0.89
1.28
1.92
1.69
2.45
2.61
1.37
0.82
1.03
1.42
1.35
1.39
1.54
1.33
1.39
1.58
1.52
1.58
1.48
1.55
1.65
1.36
1.59
1.21
0.91
1.29
1.95
1.58
2.47
2.58
1.41
0.87
0.90
1.39
1.34
1.40
1.54
1.31
1.36
1.56
1.50
1.57
1.53
1.55
1.62
1.33
1.64
1.22
0.91
1.29
1.89
1.56
2.44
2.70
1.39
0.85
0.98
1.35
1.32
1.39
1.51
1.32
1.35
1.53
1.48
1.54
1.44
1.49
1.60
1.34
1.62
1.23
0.90
1.27
1.88
1.65
2.43
2.65
1.36
0.82
1.00
1.39
1.34
1.44
1.58
1.36
1.39
1.63
1.52
1.55
1.53
1.57
1.75
1.36
1.65
1.26
0.90
1.28
1.92
1.69
2.49
2.64
1.37
0.83
1.02
1.43
1.40
1.48
1.59
1.40
1.40
1.66
1.54
1.52
1.56
1.58
1.70
1.38
1.70
1.31
0.90
1.29
1.97
1.76
2.49
2.54
1.39
0.83
1.18
1.50
1.37
1.46
1.63
1.35
1.44
1.81
1.55
1.57
1.52
1.58
1.83
1.43
1.73
1.25
0.89
1.30
2.03
1.81
2.56
2.70
1.43
0.81
0.93
1.49
1.41
Merchant wholesale trade.....................................................................................
Durable goods.......................................................................................................
Nondurable goods.................................................................................................
1.26
1.43
1.04
1.29
1.50
1.04
1.26
1.44
1.03
1.25
1.42
1.04
1.28
1.45
1.06
1.29
1.50
1.03
1.31
1.51
1.06
1.27
1.55
0.99
Retail tra d e ...............................................................................................................
Motor vehicle and parts dealers..........................................................................
Furniture and home furnishings and electronics and appliance stores...........
Building material and garden equipment and supplies stores...........................
Food and beverage stores....................................................................................
Clothing and clothing accessories stores...........................................................
General merchandise stores................................................................................
Other retail stores..................................................................................................
1.29
1.90
1.01
1.46
0.79
1.72
1.24
0.92
1.32
2.06
1.04
1.48
0.80
1.76
1.24
0.93
1.28
1.89
0.99
1.45
0.79
1.71
1.24
0.91
1.29
1.94
1.01
1.46
0.79
1.71
1.23
0.92
1.32
2.08
1.02
1.45
0.79
1.73
1.23
0.93
1.32
2.01
1.04
1.49
0.79
1.75
1.23
0.93
1.34
2.12
1.05
1.51
0.81
1.82
1.25
0.93
1.36
2.22
1.06
1.50
0.81
1.83
1.25
0.95
p Preliminary
r Revised
Note. Estimates in this table are based on the North American Industry Classification System
(NAICS).
January 2009
9
S u rv ey o f C u rren t B usiness
Table 4B. Real Manufacturing Inventories, by Stage of Fabrication, Seasonally Adjusted, End of Period
[Billions of chained (2000) dollars]
2008
II
2008
III
May
June
July'
Aug.'
Sept.'
Oct.p
Materials and supplies
Manufacturing.........................................................................................................
Durable goods.....................................................................................................
Wood products..................................................................................................
Nonmetallic mineral products..........................................................................
Primary m etals..................................................................................................
Fabricated metal products...............................................................................
Machinery..........................................................................................................
Computer and electronic products...................................................................
Electrical equipment, appliances, and components......................................
Transportation equipment................................................................................
Furniture and related products........................................................................
Miscellaneous manufacturing..........................................................................
Nondurable goods..............................................................................................
Food products....................................................................................................
Beverage and tobacco products......................................................................
Textile m ills........................................................................................................
Textile product m ills..........................................................................................
Apparel..............................................................................................................
Leather and allied products.............................................................................
Paper products..................................................................................................
Printing and related support activities............................................................
Petroleum and coal products...........................................................................
Chemical products............................................................................................
Plastics and rubber products...........................................................................
157.1
94.8
4.3
3.7
6.5
11.0
13.1
22.0
5.1
19.8
3.5
5.7
62.4
9.9
5.5
1.7
1.1
1.9
0.4
7.9
2.5
6.4
16.3
8.0
155.5
94.3
4.3
3.6
6.8
11.1
12.8
22.0
5.1
19.2
3.4
5.7
61.3
9.2
5.5
1.7
1.1
1.8
0.4
7.7
2.3
6.0
16.8
7.9
157.8
95.2
4.3
3.7
6.4
11.1
13.2
22.0
5.1
20.0
3.6
5.7
62.7
9.9
5.5
1.7
1.1
1.9
0.4
7.9
2.6
6.2
16.7
8.0
157.1
94.8
4.3
3.7
6.5
11.0
13.1
22.0
5.1
19.8
3.5
5.7
62.4
9.9
5.5
1.7
1.1
1.9
0.4
7.9
2.5
6.4
16.3
8.0
156.5
94.8
4.3
3.7
6.5
11.1
13.1
21.9
5.1
20.0
3.5
5.7
61.8
9.7
5.5
1.7
1.1
1.8
0.4
7.8
2.4
6.2
16.3
8.1
155.8
94.3
4.3
3.6
6.6
11.0
12.9
21.9
5.1
19.6
3.5
5.6
61.5
9.4
5.5
1.7
1.1
1.8
0.4
7.8
2.3
6.2
16.4
8.0
155.5
94.3
4.3
3.6
6.8
11.1
12.8
22.0
5.1
19.2
3.4
5.7
61.3
9.2
5.5
1.7
1.1
1.8
0.4
7.7
2.3
6.0
16.8
7.9
155.0
95.0
4.3
3.6
7.1
11.1
12.9
22.0
5.0
19.3
3.4
5.7
60.2
9.5
5.6
1.7
1.1
1.8
0.4
7.8
2.2
5.7
16.2
7.9
Work-in-process
Manufacturing.........................................................................................................
Durable goods
Wood products
Nonmetallic mineral products..........................................................................
Primary m etals..................................................................................................
Fabricated metal products......
Machinery.................................
Computer and electronic products
Electrical equipment, appliances, and components......................................
Transportation equipment.................................................................................
Furniture and related products........................................................................
Miscellaneous manufacturing..........................................................................
Nondurable goods..............................................................................................
Food products....................................................................................................
Beverage and tobacco products......................................................................
Textile m ills.......
Textile product mills
Apparel..............
Leather and allied products
Paper products..................................................................................................
Printing and related support activities............................................................
Petroleum and coal products...........................................................................
Chemical products............................................................................................
Plastics and rubber products...........................................................................
138.5
107.8
1.8
1.0
5.3
9.8
10.8
25.8
4.2
45.5
1.2
3.8
31.0
4.0
1.8
0.9
0.5
1.1
0.2
1.7
1.1
4.7
11.6
2.1
138.0
107.9
1.8
1.0
5.3
9.4
11.1
25.9
4.2
45.8
1.2
3.7
30.6
3.9
1.8
1.0
0.5
1.1
0.2
1.7
1.0
4.7
11.3
2.1
139.4
108.1
1.8
1.0
5.4
9.9
10.9
26.0
4.2
45.3
1.2
3.8
31.5
4.1
1.8
1.0
0.5
1.1
0.2
1.7
1.1
4.9
11.6
2.1
138.5
107.8
1.8
1.0
5.3
9.8
10.8
25.8
4.2
45.5
1.2
3.8
31.0
4.0
1.8
0.9
0.5
1.1
0.2
1.7
1.1
4.7
11.6
2.1
138.9
107.7
1.8
1.0
5.2
9.7
10.7
26.0
4.2
45.7
1.2
3.8
31.4
3.9
1.8
1.0
0.5
1.1
0.2
1.7
1.0
5.0
11.6
2.1
139.1
108.0
1.8
1.0
5.2
9.6
10.8
26.0
4.2
46.2
1.1
3.7
31.3
3.9
1.9
1.0
0.5
1.1
0.2
1.7
1.0
5.0
11.5
2.1
138.0
107.9
1.8
1.0
5.3
9.4
11.1
25.9
4.2
45.8
1.2
3.7
30.6
3.9
1.8
1.0
0.5
1.1
0.2
1.7
1.0
4.7
11.3
2.1
137.8
109.2
1.9
1.1
5.3
9.5
11.0
26.3
4.2
46.7
1.1
3.8
29.3
3.9
1.8
0.9
0.5
1.1
0.2
1.7
0.9
3.8
11.7
2.1
Finished goods
Manufacturing.........................................................................................................
Durable goods.....................................................................................................
Wood products........................
Nonmetallic mineral products.
Primary m etals........................
Fabricated metal products......
Machinery..........................................................................................................
Computer and electronic products...................................................................
Electrical equipment, appliances, and components......................................
Transportation equipment.................................................................................
Furniture and related products........................................................................
Miscellaneous manufacturing..........................................................................
Nondurable goods.....................
Food products..........................
Beverage and tobacco products
Textile m ills...............................
Textile product m ills ..........................................................................................
Apparel..............................................................................................................
Leather and allied products..............................................................................
Paper products..................................................................................................
Printing and related support activities............................................................
Petroleum and coal products...........................................................................
Chemical products.............................................................................................
Plastics and rubber products...........................................................................
165.3
81.1
3.6
4.7
6.0
10.3
12.6
17.0
3.2
13.1
2.3
8.9
84.1
17.3
4.8
2.1
1.7
4.2
0.7
6.8
2.9
8.0
25.5
9.6
161.0
80.1
3.7
4.7
6.0
10.1
11.8
17.1
3.3
13.1
2.3
8.9
81.0
17.0
4.7
2.2
1.7
4.2
0.7
6.6
2.8
7.5
24.2
9.4
164.2
81.8
3.7
4.8
6.0
10.5
12.9
17.1
3.3
13.0
2.4
8.8
82.6
17.4
4.9
2.2
1.7
4.2
0.7
6.8
2.9
7.1
25.8
9.6
165.3
81.1
3.6
4.7
6.0
10.3
12.6
17.0
3.2
13.1
2.3
8.9
84.1
17.3
4.8
2.1
1.7
4.2
0.7
6.8
2.9
8.0
25.5
9.6
163.3
80.3
3.7
4.7
5.8
10.2
12.4
17.0
3.2
13.0
2.3
8.8
82.9
17.1
4.8
2.1
1.7
4.2
0.7
6.7
2.9
7.7
25.3
9.5
163.6
80.4
3.7
4.7
6.0
10.2
12.2
17.3
3.2
12.8
2.3
8.8
83.1
17.0
4.7
2.1
1.7
4.2
0.7
6.7
2.8
7.8
25.2
9.8
161.0
80.1
3.7
4.7
6.0
10.1
11.8
17.1
3.3
13.1
2.3
8.9
81.0
17.0
4.7
2.2
1.7
4.2
0.7
6.6
2.8
7.5
24.2
9.4
161.5
80.0
3.7
4.7
6.0
10.0
11.7
17.0
3.2
13.2
2.3
9.0
81.6
16.9
4.7
2.2
1.7
4.2
0.7
6.7
2.9
7.5
24.7
9.4
p Preliminary
r Revised
N ote. Estimates in this table are based on the North American Industry Classification System
(NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the chained (2000) dollar
change in inventories for 2000 equals the current-dollar change in inventories for 2000 and that the
average of the 1999 and 2000 end-of-year chain-weighted and fixed-weighted inventories are equal.
Because the formula for the chain-type quantity indexes uses weights or more than one period, the
corresponding chained-dollar estimates are usually not additive.
10
January 2009
■ B E A BRIEFING
Toward Better Measurement of Innovation and Intangibles
By Ana M. Aizcorbe, CaroIE. Moylan, and Carol A. Robbins
HILE all countries account for investment in
tangible assets in their gross domestic product
(GDP) statistics, no country currently includes a com
prehensive estimate of business investment in intan
gible assets in their official accounts. Most economists
agree, however, that intangible assets— which repre
sent an important input into the innovative pro
cess— are critical components of the modern economy.
In the United States, some have suggested that invest
ment in intangible assets now roughly equals invest
ment in tangible assets.
Understanding the role of intangible assets— and
thus the role of innovative activity in general— is criti
cal to understanding the modern economy. This article
updates the ongoing efforts at the Bureau of Economic
Analysis (BEA) to better measure investment in vari
ous intangible assets.
BEA has a history of continuously improving its
GDP statistics to account for major shifts in the econ
omy (chart 1). Indeed, some intangible investments
are already included in the GDP accounts. Expendi
tures on software, for example, have been treated as in
vestment in the core accounts since 1999. And in 2006,
BEA launched a research and development (R&D) sat
ellite account, to explore investment in R&D and its
larger economic effects.
BEA is currently exploring the feasibility of creating
satellite accounts that would report investment in a va
riety of other intangible assets. Although there are
thorny conceptual issues to consider, the binding con
straint on progress remains measurement, which is ex
tremely difficult because of the paucity of source data
and lack of firm evidence supporting the assumptions
required for measurement.
A satellite account refers to a set of accounts that al
lows for experimental measurement in a framework
consistent with GDP but separate from the official ac
counts. Satellite accounts typically allow for a more de
tailed look at specific parts of the economy, measures
based on new methodologies and source data, and new
estimation approaches. The R&D satellite account, for
example, provided a means of exploring the impact of
capitalizing R&D spending on GDP growth and a
framework through which various methodological and
W
conceptual issues can be worked out.
As of now, BEA’s main efforts to measure innovative
activity have focused on its R&D account, which was
produced in partnership with the National Science
Foundation (NSF). The most recent version of the
R&D account, released in 2007, provides statistics for
1959-2004 on R&D investment and the impact of
treating R&D as investment on GDP statistics and
other aggregates. The account was also expanded to in
clude detail about the effects on BEA’s industry, re
gional, and international accounts. In the satellite
account where R&D is properly treated as investment,
investments in R&D contribute approximately 0.2 per
centage point to the 3.3 percent growth rate of GDP in
1995-2004.1
Although budget reductions prevented the provi
sion of updated statistics in 2008, BEA has continued
the necessary research to incorporate R&D investment
into core GDP accounts in 2 0 13.2 Methodological is
sues still remain. Estimates of real investment in R&D
require the use of a deflator, and there is not yet a con
sensus on how to construct this deflator. BEA is con
ducting research and hopes to work with the Bureau of
Labor Statistics (BLS) on this issue in the future; BEA
is also exploring improved measures of depreciation
for the R&D stock.
In addition to R&D, investment in artistic origi
nals— mainly motion picture and sound record
ings— is scheduled to be incorporated into the GDP
accounts in 2013.
Currently, there are no plans to include investment
in any other types of intangible assets in the core
accounts. However, BEA will continue to work with
the NSF in its efforts to expand the NSF survey beyond
technological innovation and R&D and to explore the
potential impact on macroeconomic aggregates of
treating these other asset classes as investment. Beyond
1. For more information on BEA’s satellite account for R&D, see Robbins
and Moylan (2007) and the documentation provided on the BEA Web site:
www.bea.gov/industry/index.htm#satellite.
2. For the first time, the 2008 System o f National Accounts recommends
treating R&D expenditures as investment. The following intellectual prop
erty expenditures are also treated as investment: mineral exploration and
evaluation; computer software; databases; entertainment, literary and artis
tic originals; and other intellectual property products.
January 2009
S u r v ey o f C u rren t B usiness
properly accounting for firms’ investments in intangi
ble assets— the subject of this article— BEA is also ex
ploring measures of individuals’ investments in human
capital— another type of intangible asset. (See the box
“Measuring Human Capital”)
The rest of this article discusses the following:
•The conceptual issues surrounding the measure
ment of innovation and firms’ investments in intan
gible assets
• The logic underlying the national accounting meth
ods used to measure investment
• The different types of intangible assets considered in
the literature, including technological and nontechnological innovative assets
• The existing data available for measurement and
other measurement challenges
• Details on BEA’s plans
Innovation and Economic Growth
Innovation has long been recognized as an important
driver of economic growth. For example, the invention
of the transistor over 50 years ago gave rise to wave af-
Chart 1. A History of Progress at BEA
Trillions of dollars
11
ter wave of new goods that have transformed the econ
omy. Entirely new products, like the semiconductor,
and new ways of approaching markets, like the Inter
net, are examples of the fruits of innovative activities
that followed from the development of the transistor.
The notion of “innovation” can be elusive, as seen in
the widely different definitions that economists, policy
analysts, and business leaders frequently use (see the
box “What Is Innovation?” on page 14). Common to
these definitions, however, is the realization of com
mercial value in the market place from the creation
of something that did not previously exist. In Janu
ary of last year, the Commerce Department’s Advi
sory Committee on Measuring Innovation in the 21st
Century Economy published a report Innovation M ea
surement: Tracking the State o f Innovation in the Am eri
can Economy that included a definition consistent with
the above notion:
The design, invention, development and/or
implementation of new or altered products, ser
vices, processes, systems, organizational struc
tures, or business models for the purpose of
Innovation and Intangibles
12
creating new value for customers and financial
returns for the firm.
While this view of innovation recognizes the im
portance of both technological and nontechnological
innovation, until recently, economic studies on inno
vation were primarily focused on technological inno
vation. Examples o f this focus include studying the
transformation of R&D expenditures into patents and
the diffusion of technology across the economy
through the adoption of new products or processes,
such as a new hybrid seed stock or a new generation
of information technology equipment.3 The emphasis
has only recently begun shifting to include the role of
new products, processes, and business models in the
3. See Griliches’ (1957) classic work on hybrid corn and Fichman (1992),
who provides an early survey of the literature on the diffusion of informa
tion technology.
Measuring Human Capital
Building on work that BEA has done in the measure
ment of education and earlier work by Jorgenson and
Fraumeni (1992) and others, BEA is conducting
research to measure individuals’ investments in
human capital. The importance of human capital as a
source of growth has long been recognized: “Separate
education accounts would contain data essential for
improving our understanding of how investment and
the capital stock, defined more broadly to include
both human and nonhuman capital, affect economic
growth” (National Research Council 2005). This ini
tiative would provide statistics with which to track the
stock of human capital, the rate at which the stock
depreciates, and the returns to investments. This
information is important for tracking and managing
one of the nation’s most important assets that repre
sents an important input into the innovation process.
The measure currently under consideration differs
in several respects from that used in Corrado, Hulten,
and Sichel (2006). First, BEA will only measure invest
ments in traditional education, not on-the-job train
ing. Although this would miss an important type of
investment that firms make in their workers, the mea
surement of investment by firms in their workers’
human capital is relatively new, and the data sources
are sparse. In contrast, the theory underlying the mea
surement of individuals’ investments in their human
capital dates back many years, and the needed data are
available. Second, to remain within the scope of
national accounting standards, BEA will focus on
market-based activity and will only measure marketbased investments in education, not individuals’
investments in time.
January 2009
increasingly important and growing service sector of
the economy.4
The microeconomic literature has not given rise to a
paradigm that lends itself to measuring innovation and
its impact on economic growth. Modeling these activi
ties at a microlevel is difficult, in part because the pro
cess of innovation involves a complex set of economic
actors and interactions that in principle require that
one take account of networks, linkages, and comple
mentarities.5 For example, Stephen Kline and Nathan
Rosenberg (1986) have argued that a linear model— in
which research expenditures lead to product develop
ment and then commercialization— is not an accurate
model for the innovation process; this narrow focus on
the formal research process misses the feedback be
tween innovators, their competitors, and their custom
ers. A more fundamental problem is that traditional
microeconomic theory and measurement are often
based on the presumption that change is incremental,
while innovation by its nature creates not only incre
mental improvements but also completely new prod
ucts, processes and markets.6
In contrast, macroeconomists and national accoun
tants take a more stylized view of the economy and use
a “residual” method to understand the overall contri
bution of innovation to economic growth. As Robert
Solow (1957) noted, most o f the growth in gross na
tional product could not be explained by growth in
conventional inputs, such as (tangible) capital and la
bor. He attributed most of the unexplained residual in
economic growth to “advances in knowledge.” This
observation helped fuel over 40 years of conceptual
and empirical research into the sources of economic
growth. Researchers such as Denison (1962) and Jor
genson and Griliches (1967) built growth accounting
models that provided a conceptual and accounting
framework for explaining the sources of growth with a
special emphasis on accounting for the unexplained
residual, also called multifactor productivity (chart 2).
Using this metric, less than half of the growth in the
economy today can be attributed to growth of the tra
ditional inputs, labor and capital. The residual can also
be attributed to mismeasurement of labor and capital
inputs and to the effects of any spillovers— benefits of
4. “Innovation in Services” in Miles (2004) and “Supporting Innovation
in Services,” United Kingdom Department for Business, Enterprise, and
Regulatory Reform (2008).
5. For example, it is commonly understood that innovation is influenced
not only by the actions of a particular firm but also by the institutional
environment, the structure of the production process, the other firms and
customers that the firm interacts with, the public research infrastructure,
and the characteristics of the labor market (Fagerberg 2004).
6. Indeed, Alfred Marshall’s preface to Principles o f Economics (1946),
“Natura non facit saltum,” or “nature does not make leaps,” is at odds with
the views of many economists who study innovation.
January 2009
S u rv ey o f C u rren t B usiness
innovative activity above what an economic entity has
paid for; because they are not paid for directly, spill
overs lie outside the scope of firm-supplied inputs to
production and will be captured in the residual.
Much of the recent work by macroeconomists in
this area has concentrated on identifying and measur
ing inputs other than tangible capital and labor that
are related to innovation and can contribute signifi
cantly to growth. In particular, one focus has been on
investments in intangible assets. A paper by Leonard
Nakamura (1999) and a series of papers by Corrado,
Hulten, and Sichel (2004, 2006) has shown that under
a plausible set of assumptions, the measured contribu
tion of intangible assets to economic growth could be
substantial. Their results for the United States have
been replicated for other countries, and there is now a
growing consensus on the importance of these assets in
accounting for economic growth.
Summing up, the innovation process leads to the
creation of economically useful knowledge that exists
Chart 2. Simple Sources of Growth Model:
Interpreting Multifactor Productivity
L
L'
L
Note. T h is fig u re illu s tra te s tw o w a y s an e c o n o m y can in c re a s e its o u tp u t.
T h e c h a rt s h o w s tw o s im p le p ro d u c tio n fu n c tio n s w ith in p u ts o f la b o r (L),
w h ich d iffe rs betw een points B and C, and cap ita l (K), w h ich rem ains fixed.
Each p ro d u c tio n fu n c tio n d e m o n s tra te s th e le v e l o f o u tp u t (Y) th a t can be
o b ta in e d fro m c o m b in a tio n s o f in p u ts . A t p o in t A, th e e c o n o m y u s e s th e
p ro d u c tio n f(L ,K ) to p ro d u c e o u tp u t le v e l, Y. By c h a n g in g its p ro d u c tio n
p ro c e s s , an e c o n o m y c a n s h ift to f '(L ,K ) u s in g th e s a m e le v e l o f la b o r,
m oving to point B, where it produces a higher level of output, Y'. Alternatively,
the eco n o m y can use th e o rig in a l p ro d u c tio n fu n c tio n , f(L ,K ), but in c re a s e
la b o r in p u t to a c h ie v e Y' at p o in t C; th is re s u lts in th e sam e le v e l of o u tp u t
produce d at point B. In the tra d itio n a l sources of grow th m odel, the residual
w o u ld in c lu d e th e in c re a s e in o u tp u t fro m p o in t A to p o in t B o r w o u ld be
interpreted as m ultifactor productivity.
13
separately from either people or tangibles, such as
equipment or structures. This economically useful
knowledge is an intangible that is an output of a pro
ductive process as well as an input into the creation of
new output. By identifying measures of this knowl
edge, measuring them using national accounting, and
incorporating them into a growth-accounting frame
work, one can begin to develop a comprehensive set of
statistics to better understand innovation as a driver of
economic growth.
Measuring Intangibles
in the National Accounts
As demonstrated by Corrado, Hulten, and Sichel, ac
counting for intangible assets in the national accounts
and in the Solow growth calculation can be done using
the same method that is currently used for tangible as
sets. That method is summarized in this section.
Essentially, treating spending on intangibles as in
vestment would have two primary effects on the na
tional income and product accounts: it would increase
GDP and gross domestic income (GDI) in periods
when firms invest in intangibles. It would also add a
new input— intangible capital or “the stock of knowl
edge”— and the value of the capital services generated
by that capital would be measured in the income ac
count in subsequent periods.
Table 1 shows the consolidated income and product
accounts for the United States: the right, or “product,”
side of this account shows the total final output pro
duced in the nation organized by type of expenditure,
and the left, or “income,” side shows the incomes
earned and other costs incurred in production.
The summary measure of production on the right
side— GDP— is defined as the market value of final
goods and services produced by labor and property
within the United States during a given period. The
product entries show the approach used by BEA to de
rive GDP: it is measured as the sum of purchases by fi
nal users— and includes the familiar spending
categories of consumption, investment (including in
ventories), and net trade.
Gross private domestic investment includes pur
chases of fixed assets (equipment, software, and
structures) by private businesses and nonprofit institu
tions serving households that contribute to production
and have a useful life of more than 1 year. It also in
cludes construction of housing for households and pri
vate business investment in inventories. Importantly,
intermediate inputs, which are entirely used in the
production process in one period and do not contrib
ute to future production, are not included in invest
ment.
On the left is the sum of all the incomes earned and
14
Innovation and Intangibles
costs incurred in production. Specifically, the left side
shows GDI as the sum of the income earned by labor
(compensation of employees), by governments (taxes
on production and imports less subsidies), and by en
trepreneurs (net operating surplus, which is a profits
January 2009
like measure for private and government enterprises),
and the consumption of fixed capital (the using up of
capital).
To trace through how investment is recorded in the
accounts, suppose a firm purchases a new productive
Table 1. Domestic Income and Product Account, 2007
[Billions of dollars]
Line
Line
1 Compensation of employees, p a id ..................................................................
7,819.4
15 Personal consumption expenditures ( 3 - 3 ) ...................................................
2
Wage and salary accruals..............................................................................
6,362.8
16
Durable goo ds.................................................................................................
1,082.8
3
Disbursements (3 -1 2 and 5 - 1 1 ) .............................................................
6,369.0
17
Nondurable g oo ds..........................................................................................
2,833.0
18
S e rvices...........................................................................................................
5,794.4
9,710.2
4
Wage accruals less disbursements (4 -9 and 6 -1 1 )............................
-6 .3
5
Supplements to wages and salaries (3 -1 4 )...............................................
1,456.6
19 Gross private dom estic investm ent.................................................................
2,130.4
6 Taxes on production and im ports ( 4 -1 6 ) ........................................................
1,015.5
20
Fixed investment ( 6 -2 ) ..................................................................................
2,134.0
7 Less: Subsidies ( 4 -8 ) .........................................................................................
52.3
21
Nonresidential..............................................................................................
1,503.8
8 Net operating s u rp lu s .........................................................................................
q
Private enterprises ( 2 -1 9 ) ............................................................................
3,386.0
22
Structures.................................................................................................
480.3
Equipment and s o ftw a re .......................................................................
1,023.5
630.2
10
3,393.9
Current surplus of government enterprises (4 -2 6 )..................................
-7 .9
24
Residential...................................................................................................
11 Consumption of fixed capital (6 -1 3 )................................................................
1,720.5
25
Change in private inventories ( 6 - 4 ) ...........................................................
-3 .6
26 Net exports of goods and se rvice s.................................................................
1? G ross d o m e s tic in c o m e ..................................................................................
13 Statistical discrepancy (6 -1 9 )...........................................................................
14 GROSS DOMESTIC PR O D UC T......................................................................
13,889.0
-8 1 .4
13,807.5
?7
Exports ( 5 - 1 ) ..................................................................................................
-7 0 7 .8
1,662.4
28
Imports (5 -9 )...................................................................................................
2,370.2
29 Government consumption expenditures and gross investment
(4-1 and 6 - 3 ) .....................................................................................................
2,674.8
30
F ederal..............................................................................................................
979.3
31
National defense.........................................................................................
662.2
32
N ondefense.................................................................................................
317.1
33
State and lo c a l................................................................................................
1,695.5
34 GROSS DOMESTIC PRODUCT......................................................................
13,807.5
What is Innovation?
The following definitions of innovation vary, but the
common thread is the extraction of economic value from
novel activities (Innovation Vital Signs Project 2007).
Innovation is “the commercial or industrial application
of something new—a new product, process or method of
production; a new market or sources of supply; a new
form of commercial business or financial organization.”
Schumpeter 1983
Innovation is the “intersection of invention and in
sight, leading to the creation of social and economic
value.”
Council on Competitiveness 2005
Innovation covers a wide range of activities to improve
firm performance, including the implementation of a
new or significantly improved product, service, distribu
tion process, manufacturing process, marketing method
or organizational method.
European Commission 2004
Innovation—the blend of invention, insight and entre
preneurship that launches growth industries, generates
new value and creates high value jobs.
Business Council o f New York State 2006
The design, invention, development and/or implementa
tion of new or altered products, services, processes, sys
tems, organizational models for the purpose of creating
new value for customers and financial returns for the
firm.
Advisory Committee on Measuring Innovation in the 21st
Century Economy, Department o f Commerce 2008
An innovation is the implementation of a new or signifi
cantly improved product (good or service), or process, a
new marketing method, or a new organizational method
in business practices, workplace organization or external
relations. Innovation activities are all scientific, techno
logical, organizational, financial and commercial steps
which actually, or are intended to, lead to the implemen
tation of innovations.
OECD 2005
Innovation success is the degree to which value is created
for customers through enterprises that transform new
knowledge and technologies into profitable products and
services for national and global markets. A high rate of
innovation in turn contributes to more market creation,
economic growth, job creation, wealth and a higher stan
dard of living.
Innovation Vital Signs Project 2007
January 2009
asset that was created in the same period.7 This pur
chase affects the national accounts both in the period
when it is purchased and in subsequent periods as the
asset provides services to the firm. Because the asset is
a final good, its value is recorded as investment and
adds to GDP in the period that the asset is produced.
The value of the asset may be thought of as the ex
pected discounted present value of the stream of bene
fits it will provide into the future. Offsetting this entry,
the costs of producing the asset— payments to factors
of production— are recorded on the income side of the
account. Once purchased, the asset becomes an input
to the production process, and the flow of services to
the production of other goods and services from the
asset in each period of its service life is recorded in the
income account. This flow of services may be thought
of as the amount that producers would be willing to
pay to rent the asset for a given period. In principle, the
sum of all the rental payments would equal the value
and, hence, the price of the asset.
In practice, national accountants use the notion of a
capital stock to deal with the intertemporal nature of
these capital assets. The perpetual inventory method is
used to construct capital stocks that track the value of
assets in an asset account separate from the GDP ac
counts. In the fixed assets accounts, investments are
added to the capital stock in the period when they are
made, and depreciation is used to measure reductions
in the capital stock. The value of capital services— the
value of the assets’ use in production, similar to the
rental payments described above— is defined as the
sum of depreciation and the net return on investment.
Depreciation (or consumption of fixed capital) pro
vides a measure of how much of the asset is “used up”
in production. This per period value reflects an
amount that would need to be set aside to eventually
replace the asset as it is used up in the production pro
cess. The net return on investment recognizes that the
asset contributes to the profitability of the company. In
the business sector, net returns are assumed to be in
cluded implicitly in the measure of net operating sur
plus in the income account.8
In the Solow (1957) growth model, recognizing
these intangibles as investment would increase the
value of output— real GDP— and of inputs— the value
7. This section explains how a new investment is recorded in the accounts
over its service life. For an explanation of how changing the accounting
treatm ent of spending on intangible assets from an expense on an interme
diate good to investment, see the box “How R&D Investment Affects GDP
and GDI” in Robbins and Moylan (2007).
8. The inclusion in the R&D satellite account of net returns to nonprofits
and general government is a departure from BEA’s current calculation of
GDI, which includes only depreciation, a partial measure of capital services.
In the current GDP accounts, governments do not earn profits, so only
depreciation is counted.
15
Su r v ey of C u rren t B usiness
of services from the new input. While this, in principle,
could increase or decrease the Solow residual, empiri
cal studies typically show reductions in the size of the
residual when the treatment of intangible inputs is
changed from an intermediate good to an investment
good.
The construction of these national accounting mea
sures requires data on nominal spending to measure
investment, price deflators to translate nominal invest
ment into real quantities, and several parameters for
the construction of the capital stocks and services from
that stock, notably depreciation rates.
Identifying and Measuring Nominal
Spending on Intangibles
This section discusses the broad classes of spending
that have been considered intangible assets in previous
studies with a focus on two major issues.9 The first is
sue concerns the types of spending that can be consid
ered investment. This issue hinges on the length of
assets’ service lives; goods that are treated as invest
ment goods in the national accounts typically have ser
vices lives longer than 1 year. The second issue
concerns the data available to construct these mea
sures, an important issue because existing studies sug
gest that the choice of which spending to treat as
investment is often guided by data availability and
quality issues rather than by conceptual issues about
which types of spending constitute investment.
Table 2 provides a list of spending classes that Cor
rado, Hulten, and Sichel (2004, 2006) explored and
their estimates of these expenditures.
9. See Corrado, Hulten, and Sichel (2004) for a fuller discussion of these
issues and the measurement difficulties.
Table 2. Business Spending on Intangibles, 1998-2000
[As a p ercent of gross dom estic product]
Total intangible expenditures as a percent o f gross dom estic pro d u ct.
Computerized information software and databases................................
Innovative pro p e rty............................................................................................
Research and development, including social sciences and hum anities.
Mineral exploration and evaluation................................................................
13.2
1.7
4.6
2.9
0.2
O ther innovative property
New architectural and engineering d e s ig n s .............................................
0.8
0.7
Econom ic com petencies..................................................................................
6.9
Copyright and license c o s ts ........................................................................
Brand equity
Advertising expenditures..............................................................................
Market research............................................................................................
2.3
0.2
Firm specific human capital
Direct firm expe n s e s ....................................................................................
0.2
Wage and salary costs of employee tim e .................................................
1.0
Organizational structure
Purchased.......................................................................................................
Own acco u n t..................................................................................................
Source: Corrado, Hulten, and Sichel 2004.
0.9
2.3
16
Innovation and Intangibles
Computerized information
Information contained in software and databases is a
significant knowledge asset that can be an important
contributor to the innovation process and thus eco
nomic growth. Expenditures for these types of intangi
ble assets are perhaps the easiest to measure, and
indeed many of these expenditures are already treated
as investment in GDP.
Notably, BEA has treated business and government
expenditures for computer software as investment
since 1999. The relative accessibility of data sources for
computerized information allows a fairly detailed and
comprehensive estimate for nominal investment in
software. Purchases of software by businesses and gov
ernment, either prepackaged or custom, are derived by
first forming estimates of domestic absorption of soft
ware and then removing software purchases by house
holds, software embedded in computer equipment,
and changes in inventories.
The source data for these calculations include
the Census Bureau Service Annual Survey, Census
Bureau data on trade in goods, financial statements
for original equipment manufacturers, and input-output relationships. Investment in own-account soft
ware— software produced internally by firms— is
measured as the sum of production costs, primarily
based on information on employment and wages from
the BLS Occupational Employment Statistics Survey.
Expenditures on computerized databases have typi
cally not been estimated separately in the literature.
According to estimates from the Service Annual Sur
vey, databases purchased externally appear to be small
relative to overall spending by firms on software. Data
bases that are produced internally are thought to be al
ready captured in the software estimates (custom and
own-account).
Innovative property
Expenditures for technological and creative property
are larger than those for computerized information,
representing about a third of total spending on intan
gible assets, according to the Corrado, Hulten, and
Sichel estimates. These assets are mostly the output of
R&D but also include creative property, such as the de
velopment of new motion picture films and other
forms of entertainment and, more broadly, nontechnological spending for new product development.10
January 2009
The portion of spending on innovative property
that involves technological R&D, which accounts for
about half of the business spending in this class, is cur
rently measured in the BEA R&D satellite account.
Comprehensive measures for R&D were facilitated by a
long time series of data on R&D spending provided by
the NSF. For technological activity, the NSF data on
R&D expenditures and federal government outlays
and obligations for R&D allow the measurement of
R&D performed by private business, private non
profit institutions serving households, and govern
ment entities. Data on R&D performed by others at
the government’s expense and data on R&D per
formed by the government for its own use are both
available.11
A portion of social science-related R&D, or non
technological R&D, is also measured in the account.
BEA measures for the nontechnological piece of R&D
investment are less comprehensive but do include esti
mates for (1) the sale of social science R&D by private
business based on economic census data, (2) the per
formance of social science R&D by federal government
labs, and (3) the performance of social science and hu
manities-related R&D by academic institutions. The
latter two estimates are based on data from the NSF
survey.12
Among other types of innovative property, mineral
exploration, a relatively small component, is currently
treated as investment in the GDP accounts, based on
data from the Census Bureau. A related category of
creative property— entertainment, literary, or artistic
originals— includes spending to create musical scores,
films, musical recordings, and artistic images. Research
is currently underway at BEA to develop methodolo
gies and data sources to incorporate film originals and
sound recordings into the GDP accounts.13
With regard to other categories of innovative prop
erty, data sources tend to be scarce. Existing studies
have therefore tended to use proxies that assume the
growth rates in spending track some indicator series.
For example, Corrado, Hulten, and Sichel estimate
new product development costs for finance and other
11. These measures of R&D investment are based on R&D expenditures,
which implicitly treat both failed and successful activity as capital forming.
R&D expenditures are adjusted to prevent double-counting with other
forms of capital formation, deflated with a price index for R&D output, and
cumulated into stocks with the perpetual inventory method.
12. The limitation for business-performed R&D is that the current NSF
10. BEA considers the scope of R&D investment to include both techno source data only include the activity of people who are trained in engineer
logical and nontechnological activity as long as the purpose is to increase
ing or in the physical, biological, mathematical, statistical, or computer sci
the stock of knowledge, including knowledge of m an, culture, and society
ences. Some activities were specifically excluded: market research, sales
that is used to devise new applications. This definition of R&D is from the
promotion, sales service, and other nontechnological activities, including
Organisation of Econom ic Co-operation and Development (2002, 30, para
research in the social sciences or psychology (National Science Foundation
graph 63). BEA considers R&D in the social sciences and the humanities to
2006). The NSF’s new survey will specifically include social science R&D.
be nontechnological R&D.
13. See Soloveichik (2008).
January 2009
Su r v ey of C urren t B usiness
services industries as some percentage of intermediate
purchases by those industries.
The NSF and Census Bureau are currently working
to expand the existing Business Research and Develop
ment Survey, an important effort that will help fill the
gaps in existing data sources. NSF announced a new
Business R&D and Innovation Survey (BRDIS) devel
oped jointly with Census Bureau (Wolfe 2008). The
initial BRDIS questionnaire will be launched in Janu
ary 2009. It will collect data for 2008, and this initial
cycle will serve as a full-scale pilot for the new annual
survey.
In addition, NSF’s Science of Science and Innova
tion Policy program is funding research to better un
derstand the microfoundations of innovation and
innovation ecosystems through the development of
models, tools, metrics, and data. The program is also
investing in the development of a research database to
study knowledge generation and innovation within or
ganizations.
Economic competencies
Economic competencies is the largest category in the
Corrado, Hulten, and Sichel framework, making up
about half of the spending shown in table 2. This cate
gory of spending presents both conceptual and specific
measurement challenges.
Brand equity. Advertising and marketing spending
that is aimed at the development of brands and trade
marks may be considered investment in an intangible
asset. While accountants have long recognized the
value in a trade name, or “brand,” to individual
firms, there are conceptual issues about whether this
type of asset to a firm should be treated as invest
ment in a national account. First, some argue that ad
vertising and marketing expenditures are in some
sense unproductive, perhaps because advertising and
brand equity are thought to affect the demand func
tion instead of the production function. In contrast,
spending on other intangibles directly affect the pro
duction function by either creating a better output or
the same output using fewer inputs or better inputs.
This issue is contentious, however; Hulten and Hao
(2008) argue in favor of treating this type of spending
as investment.
A separate issue is that cumulating advertising ex
penditures may increase a firm’s output, but it does
not follow that cumulating all firms’ advertising ex
penditures increases aggregate output. Therefore, there
is potentially a fallacy of composition problem in
volved in capitalizing these expenditures in the na
tional accounts and calling them part of an aggregate
17
capital stock.14
Finally, a measurement issue discussed in Corrado,
Hulten, and Sichel (2006) is that reported expendi
tures on advertising and marketing typically include
both expenditures on brand equity— a long-lived as
set— and expenditures for other types of advertising.
Corrado, Hulten, and Sichel (2006) estimate that
about 60 percent of the reported expenditures for ad
vertising and marketing are devoted to developing
brand equity and, as such, may be considered invest
ment.
Other assets. Other economic competencies repre
sent spending that affects either the inputs, such as hu
man capital, or the production function, such as
organizational change, and are more likely to have
long-lived effects.
On-the-job training and other types of education
improve the quality of the workforce and likely im
prove productivity. Moreover, many economists be
lieve that the quality of the workforce is a critical
component not just to growth but to innovation as
well.15 With regard to data sources, firms’ investments
in the human capital of their workers appear to be the
easiest to measure but represent a relatively small piece
of spending on economic competencies. Even here,
a full accounting of this human capital would also
include an estimate of the wage and salary costs of
employee time, a component that Corrado, Hulten,
and Sichel estimated to be much larger than direct
firm expenses.
Spending on organizational change— an asset that
includes, for example, spending on business models
like improved inventory and distribution systems— is
more difficult to measure because there is no broad
consensus on the scope of these assets and little
hard data with which to measure the spending.16 The
portion of organizational capital that is purchased can
be estimated using data on the revenues of manage
ment consulting companies. However, a substantial
portion of these activities are handled in-house and
there are no available data on these activities. Existing
studies tend to estimate the value of the own-account
14. However, for those interested in competitiveness across national bor
ders, which is a relative concept, it may be valid to say that U.S. firms’ brand
equity can increase aggregate U.S. output at the expense of India or Europe.
When we consider global GDP, the composition problem reemerges.
15. In Aghion and Howitt’s (1992) endogenous growth model, for exam
ple, the average growth rate is a function of the size of the skilled labor
force.
16. Examples of this type of innovation are organizational structure
changes, major strategic partnerships, shared services, alternative financing
or investment vehicles, divestitures and spin-offs, and the use of a third
party operating utility. This description is drawn from IBM Global Business
Services (2006).
18
Innovation and Intangibles
component by making an assumption about the per
centage of management’s time that is devoted to these
activities.
Translating Nominal Spending into
Real Spending, Capital Stocks,
and Capital Services
As mentioned above, obtaining measures for nominal
spending by businesses on intangibles is only the first
step in measurement. Some additional assumptions
are required that pose a separate set of challenges.
First, the value of investment must be translated into
real investment; that is, the influence of inflation must
be removed so that one is conceptually left with “quan
tities” of the asset. Second, as is the case with tangible
assets, constructing a stock of these knowledge assets
requires assumptions about depreciation rates or ser
vice lives. Third, estimating the value of services pro
vided by the asset requires the construction of a user
cost.
Deflators
Ideally, one would want a price deflator that allows
one to break out any changes in the dollar value of
investment in these assets into price and quantity
components. There are both conceptual and practical
difficulties in constructing these price indexes for ser
vices that are even more difficult for intangibles, which
are often created by firms for internal use only.
Within computerized information in the current
GDP accounts, the value of software is deflated using
price indexes from BLS. Specifically, the BLS producer
price index (PPI) for prepackaged software is used to
deflate prepackaged software, and a composite of the
BLS employment cost index and the PPI for prepack
aged software is used to deflate own-account and cus
tom software. The indexes for own-account and
custom software combine indexes of the likely employ
ment costs to generate the software and measures for
potential quality improvements in the software— im
January 2009
plicitly measured in the PPI for prepackaged software.
In contrast, in the 2006 and 2007 versions of the
BEA satellite account, business investment in R&D is
deflated using price indexes for R&D output based on
the output prices of the goods produced; spending by
government and other nonmarket entities is deflated
using input prices. Previous work at BEA has demon
strated that the choice of deflator matters; Okubo and
others (2006) show that different output deflators can
yield very different measures of real R&D output.
For broader classes of intangibles, a common solu
tion for measuring the outputs of service industries
has been to develop a price index for the costs involved
in producing the asset— such as wages of engineers and
scientists. However, it is well known that this ignores
any productivity gains in the production of the asset.
An alternative that has been used in some recent stud
ies is the deflator associated with the final industry or
the economy as a whole. The idea is that if one can’t
measure a price index for the intangible, the next best
thing might be to use a price index for the good that
embodies that intangible asset.
Table 3 summarizes the types of deflators that have
been used in recent studies on intangibles. For the
most part, studies have used output deflators either at
the major sector level (Corrado, Hulten, and Sichel
2006; Marrano, Haskel, and Wallis 2007) or at the in
dustry level (Fukao and others 2007). Some countries
continue to use input price indexes; Statistics Nether
lands uses these price indexes for some assets (van
Rooijen-Horsten and others 2008). The use of these
broad output price indexes is a testament to the diffi
culty in obtaining more accurate deflators. Corrado,
Hulten, and Sichel recognize this when they stated that
their choice of deflator was a plausible placeholder un
til further research permits better measures.
User cost and depreciation
Constructing the capital stock and the flow of ser
vices from that stock requires assumptions about
Table 3. Major Assumptions in Growth-Accounting Studies of Intangible Assets
Depreciation rates
Country
Study
Deflator used for new assets
Comput
erized
information
Innovative
property
Economic competencies
Advertising
Other
Corrado, Hulten, and Sichel 2 0 0 6 ...................
United States
Nonfarm business output deflator
33
20
60
40
Marrano, Haskel, and W allis 2 00 7...................
The United Kingdom
Implied market sector gross value-added deflator
33
20
60
40
Fukao, et al. 200 7................................................ Japan
Industry-level deflators
33
20
60
40
van Rooijen-Horsten, et al. 20 0 8 ...................... The Netherlands
Combination of input and output deflators
30
20
60
40
Jalava, Aulin-Ahmavaara, and Alanen 2007... Finland
National account and implicit investment deflators
42
22
69
0)
Baldwin, et al. 2 0 0 8 ............................................
Gross dom estic product deflator for business sector
(2)
(2)
(2)
(2)
Canada
1. The rate is 18 percent for firm-specific human capital and 33 percent for organizational structures.
2. A range of rates was used: 25, 50, and 75 percent.
January 2009
depreciation rates and a “rental cost” for the use of
the asset, which is typically measured using a user cost
formula. Under commonly used methods of con
structing user costs, the only element that is specific to
the asset is the depreciation rate. Therefore, the pri
mary measurement difficulty in constructing a user
cost has to do with the depreciation rate. For intangi
bles, these depreciation rates are particularly difficult
to measure because the depreciation is often related to
obsolescence, which can vary immensely across intan
gible assets, rather than physical decay and wear and
tear, a more readily observable phenomena.
Ideally, one would have evidence from microeco
nomic studies to measure the decay of capital stocks.
Usually, however, depreciation rates for these intangi
bles are necessarily based on assumptions guided by
limited evidence. The service lives for software, for
example, are based on some indirect quantitative esti
mates of the relationships between computer expendi
tures and software expenditures, anecdotal evidence
(including an informal survey of business use of soft
ware previously conducted by BEA about how long
software is used before it is replaced), and tax-lawbased lives of software.
In the R&D satellite account, the choices of service
life assumptions were based primarily on econometric
studies of R&D depreciation and vary by industry. The
R&D stock used by the transportation equipment
manufacturing industry is assumed to depreciate at 18
percent per year, computer and electronic manufactur
ing R&D investment at 16.5 percent per year, chemical
manufacturing R&D at 11 percent per year, and all
other R&D stock at 15 percent per year. Assuming a
declining balance rate of 1.7, this implies a mean ser
vice life that ranges from 9V2 years for transportation
equipment-related R&D assets to 15V2 years for chemical-related R&D assets.17
In contrast, relatively little is known about deprecia
tion rates and profiles for the other intangible assets.
The right column of table 3 gives the depreciation rates
that have been used in existing studies. Most of these
studies have followed the assumptions made in Corrado, Hulten, and Sichel. For computerized informa
tion, they used the depreciation rate that BEA uses for
custom software. For innovative property, Corrado,
Hulten and Sichel used the midpoint of a range of de
preciation rates used for R&D (0.12 to 0.29). The esti
mated depreciation rate for brand equity is set faster
17. The declining balance rate reflects a difference in the depreciation rate
in the early years of an asset’s life relative to later years. W hen the declining
balance rate is 1, an asset depreciates the same am ount in each year of its
life. W hen the declining balance rate is 2, the asset depreciates twice as
quickly in the first year of its life, compared with the straight line deprecia
tion. The 1.7 rate is used in BEA’s capital stock measures for producers
equipment and software.
19
S u rv ey o f C u rren t B usiness
than other assets to allow for the possibility that these
assets are relatively short lived. Finally, for other eco
nomic competencies, they used the average of the de
preciation rates for R&D and brand equity.
The scant evidence on the sensitivity of these esti
mates to choices of depreciation rates suggests that at
least some of the measures of interest are not sensitive
to the choice of depreciation rate. For example, Marrano, Haskel, and Wallis (2007) conclude that their cal
culated multifactor productivity rates were not very
sensitive to large changes in depreciation rates. Simi
larly, Baldwin and others’ (2008) study for Canada also
explored different depreciation rates and found that
the relative importance of intangible to tangible capital
was not sensitive to the choice of depreciation rates.
Summing up, properly accounting for investments
in intangible assets poses difficult measurement
challenges. For some assets, there is sufficient infor
mation with which to construct estimates, and BEA ei
ther includes the asset in the national accounts— for
example, software— or plans to include them in the fu
ture— R&D. Research on data sources and methods is
needed to properly measure the other types of intangi
bles. Indeed, there are several government initiatives to
explore new surveys and other data sources in order to
improve measures of innovative activities (see table 4).
BEA’s Plans
In addition to incorporating R&D spending as invest
ment into its core accounts in 2013, BEA is considering
an expanded satellite account that would contain ex
perimental statistics for a broader array of intangible
assets alongside our existing measures for R&D.
In order to develop comprehensive statistics on in
vestment in innovation and intangibles, expanded sur
vey data will be needed to augment the high quality
data currently available from NSF. Expanded collection
of the data for nontechnological innovative expendi
tures is a high priority for augmented innovation sta
tistics. Three key areas are spending for the
development of new business models, the creation of
artistic and literary originals, and spending for the de
sign of new products that is not currently captured by
existing surveys. Current work by the NSF and the
Census Bureau to expand the existing Business Re
search and Development Survey is an important step
in this direction, and BEA hopes to continue to work
with these agencies to develop survey instruments to
measure spending on intangible assets.
BEA also plans to conduct research on the mea
surement issues involved in translating these expendi
tures on intangibles into their impacts on GDR As
discussed above, two important areas are the develop
ment of appropriate output price indexes for each type
20
Innovation and Intangibles
January 2009
growth. Other initiatives relevant to this effort are the
following:
•Work with BLS to develop an integrated production
account that will provide a more consistent frame
work for estimating the contributions of innovation
of intangible and depreciation measures.
This work on measuring spending on intangibles as
investment is part of BEA’s overall efforts to modernize
the national accounts, refine existing measures, and
improve their usefulness for measuring productivity
Table 4. A Summary of Selected Government Initiatives to Measure Innovation
Sponsor
U.S. C o ngress.................................................
Initiative
Description
COMPETES Act (RL. 110-69) (August 2007)
Establishes a President’s Council on Innovation and Competitiveness. In
addition to policy monitoring and advice, the Council’s duties include
“developing a process for using m etrics to assess the impact of existing
and proposed policies and rules that affect innovation capabilities in the
United States” as well as “developing metrics for m easuring the progress
of the federal government with respect to im proving conditions for
innovation,
including
through
talent development,
investment,
and
infrastructure development.”
Office of Science and Technology Policy....
Science of Science Policy Interagency Task Group
Established in O ctober 2006, the task group is analyzing federal and
international efforts in science and innovation policy, identifying tools
needed for new indicators and charting a strategic road map to improve
theoretical frameworks, data, models, and methodologies.
National Science F oundation.......................
Science of Science and Innovation Policy (SciSIP)
Established in 2006, the initiative is expected to develop the foundations
of an evidence-based platform from which policymakers and researchers
may assess the nation’s science and engineering enterprise, improve
their understanding of its dynamics, and predict its outcomes. The
research, data collection, and com munity development com ponents of
SciSIP’s activities will
• Develop theories of creative processes and their transform ation into
social and economic outcomes,
• Improve and expand science metrics, datasets, and analytical tools, and
• Develop a community of experts on SciSIP
National Science Fou ndation.......................
W orkshop
on
Advancing
Measures
of
Innovation:
The workshop was in response to the challenge set forth by Dr. John H.
Knowledge Flows, Business Metrics, and Measurement Marburger III, the President’s science and technology adviser, for better
Strategies (2006)
data,
models, and tools for understanding the
U.S. science
and
engineering enterprise. A number of strategies for data development were
discussed
■Survey-based methods,
• Data linking and data integration,
• Nonsurvey-based methods (such as mining of administrative data), and
• Using case studies and qualitative data.
These diverse strategies are not mutually exclusive.
National Science Foundation.......................
Business R&D Innovation Survey
This new survey covers a variety of data on the R&D activities of
companies operating in the United States. The five main topic areas are
the following:
• Financial m easures of R&D activity,
■Company R&D activity funded by others,
• R&D employment,
• R&D management and strategy, and
• Intellectual property, technology transfer, and innovation.
Organisation for Economic Co-operation
and Development (O E C D )........................
OECD Innovation Strategy
The goal is to help policymakers improve framework conditions for
innovation and trigger a virtuous circle driving growth. This project is built
around evidence-based analysis and benchmarking. It will include a
framework for dialogue and review, new indicators on the innovationeconomic performance link, initiatives for innovation-friendly business
environments,
and the development of best practices and
policy
recommendations.
Department of C om m erce.............................
Advisory Committee on Measuring Innovation in the 21st This committee of business and academic leaders was charged to
Century Economy (2008)
develop new and improved measures of innovation in three areas:
■How innovation occurs in different sectors of the economy,
• How it is diffused across the economy, and
• How it affects economic growth.
Source: Stone, et al. 2008.
January 2009
S u rv ey of C u rren t B usiness
to economic growth and productivity. Harper,
Moulton, Rosenthal, and Wasshausen (forthcom
ing) provide annual estimates at the aggregate
level. Next steps, which will require incremental
funding, include expansion to industry-by-industry
estimates and quarterly estimates.
•Work with the NSF and the Census Bureau to
develop detailed estimates of innovation-related
intermediate inputs. These inputs, ranging from IT
equipment to scientists and engineers, are critical to
21
understanding the sources of innovations own con
tributions to growth.
•Work with the NSF and the Census Bureau to pub
lish innovation statistics on firm- and establish
ment-level data in order to provide more
comprehensive estimates of employment in innova
tion occupations.
• Begin exploring methods and data sources to con
struct estimates for human capital, an important
conduit for the diffusion of innovations.
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24
January 2009
U.S. International Transactions
Third Quarter of 2008
By Douglas B. Weinberg and Renee M. Sauers
HE U.S. current-account deficit— the combined
balances on trade in goods and services, income,
and net unilateral current transfers— decreased to
$174.1 billion (preliminary) in the third quarter of
2008 from $180.9 billion (revised) in the second quar
ter (table A, chart l ) .1All of the major current-account
components contributed to the reduction in the defi
cit, as the surpluses on income and on services in
creased and both the deficit on goods and net
unilateral current transfers to foreigners decreased.
T
1.
Quarterly estimates of U.S. current-account and fmancial-account
components are seasonally adjusted when series demonstrate statistically
significant seasonal patterns. W hen available, seasonally adjusted estimates
are cited in this article. The accompanying tables present both adjusted and
unadjusted estimates.
In the financial account, net financial inflows— net
acquisitions by foreign residents of assets in the United
States less net acquisitions by U.S. residents of assets
abroad— were $135.2 billion in the third quarter, up
from $122.9 billion in the second quarter. Net acquisi
tions by foreign residents of assets in the United States
picked up, and transactions by U.S. residents resulted
in a smaller decrease in U.S.-owned assets abroad in
the third quarter than in the second quarter. Financialaccount transactions continued to be affected by the
unsettled financial market conditions that began in the
third quarter of 2007.
The statistical discrepancy— errors and omissions
in recorded transactions— was $39.5 billion in the
third quarter, compared with $58.7 billion in the
Table A. Summary of U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
2007
Line
Corresponding lines in tables 1 and 12 are indicated in ()
(Credits +; debits -)
2008
January-September
2007
I
II
III
IV
1
II'
III >>
Change:
2008:ll—III
Change:
2007-2008
2007
2008
1,812,697
845,300
364,959
602,437
2,007,125
1,001,661
414,537
590,928
194,428
156,361
49,578
-11,509
-5,549 -2,293,748 -2,448,638
-7,605 -1,455,754 -1,643,732
-2,406
-280,981
-306,190
4,463
-557,013
-498,716
-154,890
-187,978
-25,209
58,297
Current account
1 Exports of goods and services and income receipts (1)........
2
Goods, balance of payments basis (3).....................................
3
Services (4).............................
4
Income receipts (12)................
2,463,505
1,148,481
497,245
817,779
572,182
270,318
115,118
186,746
602,122
279,488
120,463
202,171
638,393
295,494
129,378
213,520
650,808
303,180
132,285
215,343
651,473
317,813
133,833
199,827
671,944
337,312
138,186
196,446
683,708
346,536
142,518
194,655
5 Imports of goods and services and income payments (18)
-3,082,014
6
Goods, balance of payments basis (20)................................... -1,967,853
7
Services (21)...........................................................................
-378,130
8
Income payments (29).............................................................
-736,030
-738,938
-473,681
-91,298
-173,959
-771,262
-485,375
-93,395
-192,492
-783,548
-496,698
-96,288
-190,562
-788,264
-512,099
-97,149
-179,016
-795,371
-528,845
-99,910
-166,615
-823,859
-553,641
-101,937
-168,282
-829,408
-561,246
-104,343
-163,819
-112,705
-30,174
-24,953
-27,796
-29,784
-31,742
-29,028
-28,390
638
-82,923
-89,160
-6,237
-1,843
-543
-112
-617
-571
-600
-631
-593
38
-1,272
-1,824
-552
11 U.S.-owned assets abroad, excluding financial derivatives
(increase/financial outflow (-)) (40)...................................... -1,289,854
12
U.S. official reserve assets (41)................................................
-122
13
U.S. government assets, other than official reserve assets (46)
-22,273
14
U.S. private assets (50)........................................................... -1,267,459
-442,065
-72
445
-442,438
-523,556
26
-596
-522,985
-170,476
-54
623
-171,045
-153,757
-22
-22,744
-130,990
-260,644
-276
3,265
-263,634
102,698
-1,267
-41,592
145,558
9,505
-179
-225,994
235,678
-93,193 -1,136,097
1,088
-100
-184,402
472
90,120 -1,136,468
-148,441
-1,722
-264,321
117,602
987,656
-1,622
-264,793
1,254,070
9 Unilateral current transfers, net (35)........................................
11,764
9,224
4,332
-1,791
Capital account
10 Capital account transactions, net (39).....................................
Financial account
15 Foreign-owned assets in the United States, excluding
financial derivatives (increase/financial inflow (+)) (55).....
16
Foreign official assets in the United States (56).......................
17
Other foreign assets in the United States (S3).........................
2,057,703
411,058
1,646,645
692,713
163,270
529,443
718,112
88,822
629,290
266,476
13,469
253,007
380,402
145,497
234,905
459,017
173,533
285,484
22,719
145,391
-122,672
125,692
117,663
8,029
102,973
-27,728
130,701
1,677,301
265,561
1,411,740
607,428 -1,069,873
436,587
171,026
170,841 -1,240,899
18 Financial derivatives, net (70)...................................................
6,496
14,795
-1,007
5,942
-13,234
-8,001
-2,519
n.a.
2,519
19,730
n.a
-19,730
19 Statistical discrepancy (sum of above items with sign
reversed)(71).........................................................................
-41,287
-67,970
656
71,627
-45,600
-14,131
58,677
39,487
-19,190
4,313
-73,510
-77,823
Memoranda:
20 Balance on current account (77)..................................................
21 Net financial flows (40,55, and 70).............................................
-731,214
774,345
-196,930
265,443
-194,093
193,549
-172,952
101,942
-167,241
213,411
-175,640
190,372
-180,944
122,898
-174,091
135,197
6,853
12,299
-563,975
560,934
-530,675
458,987
33,300
-101,947
p Preliminary
r Revised
n.a. Not available
January 2009
25
S u rv ey o f C u rren t B usiness
Chart 1. U.S. Current-Account Balance and
Its Components
•Net foreign purchases of U.S. Treasury securities
increased strongly.
• Both claims and liabilities reported by U.S. banks
and securities brokers decreased substantially for
the second consecutive quarter as a result of cut
backs in international lending and borrowing by
these institutions.
B illio n $
6 0 1--------------------------------------------------------------------------------40
20
0 -------------------------------------------------------
C urrent A ccoun t
Goods and services
-240
1997
98
99 2 0 0 0 01
02
03
04
05
06
07
08
S e a s o n a lly a d ju s te d
U.S. Bureau of Economic Analysis
second quarter.
The following are highlights for the third quarter of
2008:
• Both exports and imports of goods increased much
less in the third quarter than in the second quarter.
• Both receipts and payments of income on direct
investment decreased, partly as a result of declines
in earnings of finance affiliates. Both receipts and
payments of “other” private income increased
slightly after decreasing substantially in previous
quarters.
• U.S. government assets other than official reserve
assets increased strongly as a result of drawings on
central bank reciprocal currency arrangements.
• Both net U.S. sales of foreign securities and net for
eign sales of U.S. securities other than U.S. Treasury
securities were very large.
The deficit on goods and services decreased to $176.5
billion in the third quarter from $180.1 billion in the
second quarter. The deficit on goods decreased $1.6
billion, and the surplus on services increased $1.9 bil
lion.
After increasing sharply from 2002 to 2005 and
peaking in the third quarter of 2006, the deficit on
goods and services has been lower in recent quarters,
and the third-quarter deficit was 11 percent lower than
its peak level (chart 1). Exports of goods and services
have increased substantially in the last 5 years as a re
sult of strong economic growth abroad and the cumu
lative effect of the depreciation of the dollar against
major foreign currencies. Imports of goods and ser
vices have increased at a much lower rate than exports
since late 2006, partly as a result of weak U.S. domestic
demand (chart 2). In the third quarter of 2008, goods
exports and imports increased at much lower rates
than in the preceding two quarters, as goods trade
contracted in August and September. Services exports
and imports increased at nearly the same rates in the
third quarter as in the second quarter.
The third-quarter goods deficit was $3.9 billion
lower than the peak deficit in the third quarter of
2006. Over this 2-year period, goods exports in
creased $87.3 billion, or 34 percent, and goods imports
Revisions to Estimates
The preliminary estimates of U.S. international trans
actions for the second quarter that were published in
the October 2008 S u r v e y o f C u r r e n t B u s i n e s s have
been revised.
The current-account deficit was revised to $180.9
billion from $183.1 billion. The goods deficit was
unrevised at $216.3 billion; the services surplus was
revised to $36.2 billion from $35.8 billion; the income
surplus was revised to $28.2 billion from $27.3 billion;
and unilateral current transfers were revised to net
outflows of $29.0 billion from $29.9 billion. Net finan
cial inflows were revised to $122.9 billion from $136.7
billion.
26
U.S. International Transactions
increased $83.3 billion, or 17 percent. Much of the in
crease in imports resulted from petroleum and
products, which increased $48.1 billion, or 58 percent.
Nonpetroleum imports increased only $35.2 billion, or
9 percent, while nonpetroleum exports increased $75.3
billion, or 30 percent. As a result, the deficit on petro
leum and products increased $36.1 billion in the last
2 years, but the deficit on nonpetroleum products
decreased $40.1 billion (chart 3). The services surplus
January 2009
Chart 3. Deficits on Petroleum and Nonpetroleum
Products__________________________________
B illio n $
40
20
0
-20
-4 0
Chart 2. Exports and Imports of Goods and
Services: Percent Change From Preceding Quarter
-6 0
-8 0
P e rc e n t
7 | GOODS
-100
■ Exports
6
ilm p o fts
-1 20
-1 4 0
-1 6 0
2006
2007
2008
S e a s o n a lly a d ju s te d
U.S. Bureau of Economic Analysis____________________________________
increased $17.0 over the last 2 years. Services exports
increased $34.2 billion, or 32 percent, and services im
ports increased $17.1 billion, or 20 percent.
Exports of goods and services also increased at a
much higher rate than imports of goods and services
on a price-adjusted, or real, basis. Over the last 2 years,
real goods exports increased 18 percent. In contrast,
real goods imports decreased 3 percent, as the increase
in current-dollar goods imports resulted from higher
prices, particularly for petroleum imports. Real ser
vices exports also increased at a much higher rate than
real services imports. Real net exports of goods and
services, or exports less imports, made a substantial
positive contribution to the percent change in real
gross domestic product in the last six quarters.
Goods
The deficit on goods decreased to $214.7 billion in the
third quarter from $216.3 billion in the second quarter.
Exports increased more than imports, but both in
creased much less in the third quarter than in the sec
ond quarter.
Exports. Exports of goods increased $9.2 billion, or
2.7 percent, to $346.5 billion (table B). Both real ex
ports and export prices increased 1.4 percent.2
S e a s o n a lly a d ju s te d
U.S. Bureau of Economic Analysis
2. Quantity (real) estimates are calculated using a chain-type Fisher for
mula with annual weights for all years and quarterly weights for all quar
ters. Real estimates are expressed as chained (2000) dollars. Price indexes
are also calculated using a chain-type Fisher formula.
January 2009
27
S urv ey o f C u rrent B usiness
On a monthly basis, exports peaked in July after an
extended period of strong growth. Exports decreased
in August but remained strong and then fell sharply in
September as a result of substantial declines in all ma
jor commodity categories.
Nonagricultural industrial supplies and materials
increased $4.5 billion in the third quarter. These com
modities were the largest contributor to growth in total
exports for the third consecutive quarter, largely as a
result of strong growth in petroleum and products and
in chemicals. However, both petroleum and products
and chemicals fell sharply in September, partly as a re
sult of delays caused by storms in the Gulf of Mexico.
Automotive vehicles, parts, and engines increased
$1.9 billion. Exports of passenger cars and other vehi
cles increased strongly, both to Canada and to “other”
areas, such as the Middle East and Europe.
Capital goods increased $1.8 billion. The largest in
crease was in oil drilling, mining, and construction
machinery despite a sharp drop in this machinery in
September. In addition, semiconductors rebounded,
and scientific, hospital, and medical equipment con
tinued to increase moderately. In contrast, many other
types of capital goods decreased or increased less in the
third quarter than in the second quarter. Civilian air
craft increased slightly despite a large strike-related
drop in deliveries of completed aircraft in September.
Consumer goods increased $1.4 billion. Exports of
many consumer goods peaked in July. For the quarter,
nondurable goods increased strongly, mostly because
of continued strong growth in medical, dental, and
pharmaceutical products. In contrast, durable goods
increased much less than in recent quarters. Down
turns in “other” durable goods and in toys and sport
ing goods and a slowdown in “other” household goods
were partly offset by a surge in gems, jewelry, and col
lectibles.
Agricultural products were virtually unchanged af
ter rising substantially in recent quarters. Soybeans fell
sharply, mostly as a result of a decrease in shipments
due to a late harvest. In contrast, raw cotton picked up,
and meat products and poultry were strong for the
third consecutive quarter. Corn and wheat increased
moderately. Prices of many agricultural commodities
rose sharply in July and then turned down.
Imports. Imports of goods increased $7.6 billion, or
1.4 percent, to $561.2 billion (table B). Real imports
decreased 1.0 percent, and import prices increased 2.4
percent. The increase in value resulted from a rise in
petroleum and products. Nonpetroleum products de
creased slightly.
On a monthly basis, imports peaked in July. Petro
leum and products decreased substantially in August
and September, and nonpetroleum products turned
down in September.
Petroleum and products increased $7.8 billion in
the third quarter. The average price per barrel rose 8
percent to $117.49, and the average number of barrels
imported daily fell 2 percent to 12.27 million (chart 4).
After rising strongly since early 2007, petroleum prices
peaked in July and then began to decline. The increase
in petroleum imports was about evenly divided be
tween members of OPEC, mostly Saudi Arabia and
Venezuela, and non-OPEC members.
Table B. U.S. Trade in Goods in Current and Chained (2000) Dollars and Percent Changes From Previous Period
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Current dollars
Chained (2000) dollars '
2007
2006
Exports.......................................
Agricultural products................
Nonagricultural products.........
2008
2007
2007
1,023,109 1,148,481
72,869
92,115
950,240 1,056,366
Imports....................................... 1,861,380 1,967,853
Petroleum and products..........
302,430 330,978
Nonpetroleum products........... 1,558,950 1,636,875
2006
I
II
III
270,318
19,933
250,385
279,488
21,517
257,971
473,681 485,375
70,797
78,131
402,884 407,244
I
IV
295,494 303,180
24,960
25,705
270,534 277,475
II
317,813 337,312
29,455
32,457
288,358 304,855
496,698 512,099 528,845
83,019
99,031 112,172
413,679 413,068 416,673
346,536
32,463
314,073
I
920,633
58,085
864,334
998,141
62,194
938,016
553,641 561,246 1,630,344 1,663,077
123,619 131,436
138,163
135,413
430,022 429,810 1,504,865 1,547,009
238,822
14,305
225,126
417,120 414,528 416,434
32,395
35,773
33,589
384,442 385,940 390,753
III p
415,065 415,018 405,934 402,019
35,046
31,088
30,566
33,655
385,854 381,827 383,719 380,811
2007
2006
III
II
I
243,900 256,101 258,940 265,030 273,224 276,925
16,711
16,732
15,176
15,873
16,320
16,433
229,210 239,684 243,767 249,404 257,309 261,660
2008
2007
II
IV
Chained (2000) dollars 1
2007
I
III
II
Current dollars
2006
2008
2007
III "
IV
2008
2007
I
II
Exports.......................................
Agricultural products................
Nonagricultural products.........
14.4
12.3
14.5
12.3
26.4
11.2
1.7
6.1
1.4
3.4
7.9
3.0
5.7
16.0
4.9
2.6
3.0
2.6
4.8
14.6
3.9
6.1
10.2
5.7
2.7
0.0
3.0
10.7
8.5
10.8
8.4
7.1
8.5
0.9
0.1
0.9
2.1
6.1
1.8
5.0
10.1
4.6
1.1
-5.0
1.7
2.4
2.8
2.3
3.1
2.5
3.2
1.4
-1.8
1.7
Imports.......................................
Petroleum and products..........
Nonpetroleum products...........
10.7
20.1
9.0
5.7
9.4
5.0
1.8
5.0
1.3
2.5
10.4
1.1
2.3
6.3
1.6
3.1
19.3
-0.1
3.3
13.3
0.9
4.7
10.2
3.2
1.4
6.3
0.0
6.2
-1.9
7.8
2.0
-2.0
2.8
1.6
7.0
0.7
-0.6
-6.1
0.4
0.5
-3.6
1.2
-0.3
3.9
-1.3
0.0
4.1
-1.0
-2.2
-11.3
0.5
-1.0
-1.7
-0.8
p Preliminary
1. Because chain indexes use weights of more than one period, the corresponding chained dollar estimates are usually not additive.
Percent changes in quarterly estimates are not annualized and are expressed at quarterly rates.
No te .
I
III p
III
II
IV
II
I
III p
28
January 2009
U.S. International Transactions
Chart 4. Imports of Petroleum and Products:
Indexes of Value, Price per Barrel, and Barrels
Imported per Day
2006:1=100
U.S. Bureau of Economic Analysis
Nonpetroleum industrial supplies and materials in
creased $3.2 billion. These commodities were the larg
est contributors to growth in nonpetroleum imports
for the third consecutive quarter, largely as a result of
strong growth in chemicals, in iron and steel products,
and in steelmaking materials. The growth in these
products partly reflected substantial increases in their
prices, but prices for most of the products began to
ease in the third quarter. Imports of natural gas de
creased sharply in the third quarter, partly as a result of
a substantial fall in natural gas prices.
Consumer goods increased $1.7 billion. The in
crease was largely accounted for by nondurable goods,
mostly medicinal, dental, and pharmaceutical prod
ucts. Durable goods increased much less in the third
quarter than in the second quarter. Downturns in tele
visions, video receivers, and other video equipment, in
gems, jewelry, and collectibles, and in “other” durable
goods were partly offset by a surge in toys, shooting,
and sporting goods.
Capital goods decreased for the first time in
nearly 6 years. The $1.3 billion decline was partly at
tributable to a sharp drop in computers, peripherals,
and parts— mainly peripherals and parts. Civilian air
craft also decreased substantially as a result of declines
in complete aircraft and in aircraft engines and parts.
Many other types of capital goods increased less in the
third quarter than in the second quarter or decreased.
In contrast, oil drilling, mining, and construction ma
chinery increased strongly.
Automotive vehicles, parts, and engines decreased
$4.3 billion. The record decline mostly resulted from
a drop in imports of passenger cars, particularly from
lapan, Germany, the Republic of Korea, and Sweden.
Trucks and buses from Mexico and parts and en
gines— mostly from Mexico, Canada, and Ger
many— also decreased. U.S. domestic sales o f imported
automobiles fell sharply in the third quarter, and do
mestic sales of all motor vehicles decreased very sub
stantially for the third consecutive quarter.
Balances by area. The goods deficit decreased $1.6
billion to $214.7 billion in the third quarter. The deficit
with Latin America and Other Western Hemisphere
decreased as a result of a large decline in the deficit
with Mexico and a shift to a surplus with Brazil. The
deficit with Europe also fell; decreases in the deficits
with Germany and several other countries and in
creases in the surpluses with the Netherlands and Bel
gium were partly offset by an increase in the deficit
with the United Kingdom. The deficits with Africa and
with Canada also decreased. In contrast, the large defi
cit with Asia and Pacific increased, as a surge in the
deficit with China was only partly offset by decreases in
the deficits with Japan and India.
Services
The surplus on services increased to $38.2 billion in
the third quarter from $36.2 billion in the second
quarter. Services receipts increased $4.3 billion to
$142.5 billion, and services payments increased $2.4
billion to $104.3 billion.
Travel receipts increased $1.4 billion to $29.5 billion
as a result of an increase in receipts from overseas visi
tors to the United States. Travel payments edged down
$0.1 billion to $20.2 billion. Over the last six quarters,
the surplus on travel has nearly tripled, as receipts in
creased $7.7 billion, or 35 percent, and payments in
creased only $1.6 billion, or 9 percent. The
appreciation of many foreign currencies against the
U.S. dollar through most of the period boosted the
number of foreign visitors to the United States and
their expenditures and discouraged U.S. travel abroad
Data Availability
The estimates that are presented in tables 1-12 of the
U.S. international transactions accounts are available
interactively on BEAs Web site at www.bea.gov. Users
may view and download the most recent quarterly
estimates for an entire table, or they may select the
period, frequency, and lines that they wish to view.
The estimates are available in an HTML table, in a
spreadsheet file (.xls format), or as comma-separated
values.
January 2009
29
S u rv ey of C u rren t B usiness
Chart 5. Nominal Indexes of Foreign Currency Price
of the U.S. Dollar
(chart 5).
Passenger fare receipts increased $0.8 billion to $8.5
billion, and passenger fare payments increased $0.2
billion to $8.2 billion.
“Other” transportation receipts were virtually un
changed at $15.8 billion. Receipts had increased
strongly in the previous three quarters, partly as a re
sult of foreign air carriers’ increased fuel expenditures
in U.S. ports. “Other” transportation payments in
creased $0.3 billion to $18.8 billion. Payments for port
services increased much less than in the previous two
quarters, partly as a result of a smaller rise in U.S. air
carriers’ expenditures in foreign ports.
“Other” private services receipts increased $1.4 bil
lion to $61.6 billion. The increase was largely ac
counted for by a rise in receipts for business,
professional, and technical services, but receipts for
most other major types of services also increased. In
contrast, financial services receipts decreased, as a
downturn in securities issuance resulted in reduced
underwriting fees. “Other” private services payments
increased $0.8 billion to $39.1 billion. The increase was
largely accounted for by a rise in payments for busi
ness, professional, and technical services.
January 1999=100
Income
The surplus on income increased to $30.8 billion in the
third quarter from $28.2 billion in the second quarter.
Income receipts decreased $1.8 billion to $194.7 bil
lion, and income payments decreased $4.5 billion to
$163.8 billion.
N o te.
See table C for the definitions of the indexes. Monthly average rates.
Data: Federal Reserve Board. Indexes rebased by BEA.
U.S. Bureau of Economic Analysis
Table C. Indexes of Foreign Currency Price of the U.S. Dollar
[January 1999=100]
2007
III
Sept.
Oct.
Dec.
Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
III
86.7
77.6
98.7
85.1
76.2
96.8
83.8
75.0
95.3
85.6
77.8
95.9
89.1
80.3
100.6
87.3
78.3
99.1
86.0
76.4
98.7
86.8
78.0
98.3
86.1
77.3
97.6
85.4
76.8
96.7
83.7
74.4
96.0
83.5
74.6
95.2
83.8
74.9
95.5
84.0
75.6
95.1
83.4
75.1
94.4
85.6
78.4
95.2
87.7
79.9
98.0
92.8
90.1
95.8
89.0
85.7
92.6
87.1
84.5
89.9
86.7
84.2
89.5
88.8
87.6
90.3
91.9
88.8
95.4
89.7
86.5
93.3
88.4
84.6
92.6
88.9
86.0
92.0
88.3
85.6
91.3
87.0
85.1
89.1
85.9
82.9
89.2
86.0
83.5
88.9
86.8
84.0
89.8
87.4
85.1
89.9
86.8
84.7
89.2
88.7
88.1
89.6
90.9
89.9
92.0
68.8
64.6
66.1
66.5
68.5
67.6
64.2
63.7
66.0
66.5
65.7
66.0
66.7
65.8
66.9
66.7
69.3
69.6
84.3
81.6
86.5
103.9
108.2
126.7
80.0
80.7
82.7
99.9
107.1
118.0
77.3
83.4
77.0
92.9
106.7
114.8
74.2
83.7
74.5
92.4
103.0
109.4
77.3
87.4
77.5
95.0
102.0
110.4
83.3
81.7
85.5
101.5
108.9
125.8
81.4
80.7
84.7
102.3
106.8
119.0
78.9
79.7
81.1
98.0
107.4
116.9
79.6
81.8
82.3
99.3
107.1
118.1
78.7
83.7
79.4
95.2
107.7
117.1
78.5
84.0
78.6
94.5
106.3
114.4
74.7
82.4
73.1
88.9
106.0
113.0
73.6
83.3
73.2
90.6
103.8
111.5
74.5
84.0
75.4
92.1
103.1
109.7
74.5
83.9
74.8
94.4
102.0
107.0
73.6
83.0
74.2
94.3
100.8
105.2
77.5
87.5
78.2
96.5
99.9
106.7
80.8
91.8
80.1
94.1
105.3
119.3
Real:1
Broad 2....................................................
Major currencies 3................................
Other important trading partners 4.......
1. For more information on the nominal and real indexes of the foreign exchange value of the U.S. dollar, see Federal
Reserve Bulletin, vol. 84 (October 1998): 811-18.
2. Weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group of U.S.
trading partners, including the currencies of the euro area countries, Australia, Canada, Japan, Sweden, Switzerland,
United Kingdom, Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, China, Hong Kong, India, Indonesia, Korea,
Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia, and Russia. Data: Federal Reserve Board.
Monthly and quarterly average rates. Index rebased by BEA.
3. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that circulate
widely outside the country of issue, including the currencies of the euro area countries, Australia, Canada, Japan, Sweden,
Switzerland, and the United Kingdom. The weight for each currency is its broad-index weight divided by the sum of the
broad-index weights for all of the currencies included in the major currency index. Data: Federal Reserve Board. Monthly
Nov.
II
89.8
81.4
100.6
IV
2008
I
Nominal:1
Broad 2....................................................
Major currencies3................................
Other important trading partners4.......
Selected currencies: (nom inal)5
Canada....................................................
European currencies:
Euro area 6..........................................
United Kingdom....................................
Switzerland..........................................
Japan.......................................................
Mexico.....................................................
Brazil.......................................................
2007
2008
and quarterly average rates. Index rebased by BEA.
4. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that do not circu
late widely outside the country of issue, including the currencies of Argentina, Brazil, Chile, Colombia, Mexico, Venezuela,
China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia,
and Russia. The weight for each currency is its broad-index weight divided by the sum of the broad-index weights for all of
the currencies included in the other important trading partners index. Data: Federal Reserve Board. Monthly and quarterly
average rates. Index rebased by BEA.
5. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
6. The euro area includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Nether
lands, Portugal, Slovenia, and Spain; beginning with the first quarter of 2008, also includes Cyprus and Malta.
30
U.S. International Transactions
Receipts of income on U.S. direct investment abroad
decreased $3.5 billion to $98.1 billion. Earnings of for
eign affiliates decreased amid slowing economic activ
ity in major foreign countries, depreciation of major
foreign currencies against the U.S. dollar, and turmoil
in global financial markets. Earnings of foreign affili
ates in finance and insurance decreased substantially,
mostly as a result of a decline in earnings of nondepos
itory institutions in Asia and Europe. Earnings of
holding company affiliates also fell, mostly because of
lower earnings of affiliates in Europe.
Payments of income on foreign direct investment in
the United States decreased $3.9 billion to $32.8 bil
lion. The decrease resulted from a sharp decline in
earnings of U.S. affiliates in finance and insurance,
which have fluctuated substantially in recent quarters.
The third-quarter decrease was mostly by depository
institutions.
Receipts of “other” private income increased $1.3
billion to $94.8 billion as a result of increases in re
ceipts on U.S. nonbank claims and on U.S. holdings of
foreign securities. U.S. government income receipts in
creased $0.3 billion to $1.1 billion.
Payments of “other” private income increased $0.9
billion to $87.0 billion. An increase in income pay
ments on foreign holdings of U.S. securities other than
U.S. Treasury securities was partly offset by decreases
in income payments on U.S. bank and nonbank liabili
ties. U.S. government income payments decreased $1.4
billion to $41.5 billion.
Unilateral current transfers
Net unilateral current transfers to foreigners were
$28.4 billion in the third quarter, down from $29.0 bil
lion in the second quarter. The decrease was largely ac
counted for by a decline in private remittances and
other transfers.
Capital Account
Net capital account payments (outflows) were virtually
unchanged at $0.6 billion in the third quarter.3
Financial Account
Net financial inflows— net acquisitions by foreign resi
dents of assets in the United States less net acquisitions
by U.S. residents of assets abroad— were $135.2 billion
in the third quarter, up from $122.9 billion in the sec
ond quarter.4 Net acquisitions by foreign residents of
3. Capital-account transactions largely consist of changes in financial
assets of migrants as they enter or leave the United States and U.S. govern
ment debt forgiveness.
4. Third-quarter net financial inflows exclude transactions in financial
derivatives because data are not yet available. Second-quarter net financial
inflows excluding transactions in financial derivatives were $125.4 billion.
January 2009
assets in the United States picked up, and transactions
by U.S. residents resulted in a smaller decrease in U.S.owned assets abroad in the third quarter than in the
second quarter.
Financial-account transactions continued to be af
fected by the unsettled financial market conditions
that began in the third quarter of 2007. In the third
quarter of 2008, financial markets responded to indi
cations that major world economies were slowing and
to the deteriorating financial condition of two U.S.
government-sponsored housing finance agencies,
which were placed into conservatorship on September
7. The bankruptcy of a large U.S. investment bank on
September 15 marked the beginning of a period of ad
ditional significant strain in global financial markets.
After the investment bank bankruptcy, many short
term funding markets, including interbank markets
and markets for commercial paper and other short
term instruments, ceased to function normally, leading
to liquidity problems for some large global financial
institutions. Stock and corporate bond prices fell
sharply, and U.S. Treasury security prices surged, as in
vestors became extremely risk averse. Credit spreads
rose sharply. The heightened strains prompted U.S.
and foreign governments to provide large-scale sup
port to markets.
The strains in short-term funding markets and the
government responses substantially affected transac
tions in the U.S. government and U.S. banking and
nonbanking accounts. In the U.S. government ac
counts, U.S. government assets other than official re
serve assets increased sharply as a result of drawings on
temporary reciprocal currency arrangements between
the U.S. Federal Reserve System and foreign central
banks to address elevated pressures in U.S. dollar
short-term funding markets worldwide. In the banking
accounts, both claims and liabilities reported by U.S.
banks and securities brokers decreased substantially.
The decreases represented a cutback in international
lending and borrowing by these institutions and their
customers, reflecting the elevated pressures in inter
bank markets and in markets for short-term instru
ments, which are important sources of funds for some
large financial institutions. In the nonbanking ac
counts, claims of U.S. nonbanking concerns decreased
for the fifth consecutive quarter, partly as a result of
transfers of funds to U.S. financial intermediaries that
were unable to roll over maturing asset-backed com
mercial paper.
The strains in long-term capital markets substan
tially affected securities transactions. Both net U.S.
transactions in foreign securities and net foreign trans
actions in U.S. securities other than U.S. Treasury se
curities shifted to very large net sales, mostly as a result
January 2009
S u rv ey o f C u rren t B usiness
of net sales of bonds. In contrast, net foreign purchases
of U.S. Treasury securities by foreign official institu
tions and by private foreigners increased strongly.
U.S.-owned assets abroad
Net U.S.-owned assets abroad decreased $9.5 billion in
the third quarter after a decrease of $102.7 billion in
the second quarter. The smaller decrease resulted from
a much larger increase in U.S. government assets other
than official reserve assets in the third quarter than in
the second quarter and a smaller decrease in claims re
ported by U.S. banks in the third quarter than in the
second quarter. These changes were partly offset by a
substantial shift to net U.S. sales of foreign securities
from net U.S. purchases.
U.S. official reserve assets. U.S. official reserve as
sets increased $0.2 billion in the third quarter after an
increase of $1.3 billion in the second quarter. The
third-quarter increase resulted from an increase in U.S.
official holdings of foreign currencies that was partly
offset by a decrease in the U.S. reserve position in the
International Monetary Fund.
U.S. government assets other than official reserve
assets. U.S. government assets other than official re
serve assets increased $226.0 billion in the third quar
ter after an increase of $41.6 billion in the second
quarter. The exceptionally large third-quarter increase
resulted from drawings on temporary reciprocal cur
rency arrangements (swap lines) between the U.S. Fed
eral Reserve System and foreign central banks that do
not meet the strict definition of U.S. reserve assets. The
swap lines allow foreign central banks to obtain U.S.
dollars, for a limited period of use, directly from the
Federal Reserve in exchange for foreign currencies.
These swap lines were established in the fourth quarter
o f 2007 to address elevated pressures in short-term
U.S. dollar funding markets in Europe during the early
stages of the ongoing financial market turmoil. They
were expanded substantially in the last 2 weeks of Sep
tember 2008 to an authorized limit o f $620 billion be
tween the Federal Reserve and nine foreign central
banks, as short-term U.S. dollar funding pressures
worldwide became more acute. At quarter end, dollar
drawings were about half of the authorized limit and
were mostly by the European Central Bank and, to a
lesser extent, the Bank of England, the Bank of Japan,
and the Swiss National Bank. Early in the fourth quar
ter, limits on swap lines between the Federal Reserve
and these foreign central banks were removed in order
to accommodate whatever quantity of U.S. dollar
funding was demanded, and additional swap lines
were established between the Federal Reserve and sev
eral other foreign central banks.
31
Claims reported by banks and by nonbanks. U.S.
claims on foreigners reported by U.S. banks and secu
rities brokers decreased $152.0 billion in the third
quarter, following a decrease o f $213.9 billion in the
second quarter (chart 6). The two consecutive large
quarterly decreases, in conjunction with two consecu
tive large decreases in U.S. liabilities to foreigners re
ported by U.S. banks and brokers, represented a
significant cutback in international lending and bor
rowing by these institutions. The cutback largely re
flected the elevated pressures in interbank funding
markets and concerted efforts by financial institutions
to reduce risk. Banks and securities brokers sought to
deleverage their balance sheets and maintain liquidity
by transferring funds between their home and foreign
offices. Banks’ customers reduced their dollar deposits
abroad and their holdings o f foreign short-term in
struments.
Banks’ own claims denominated in dollars de
creased $71.6 billion after a decrease of $141.7 billion.
The third-quarter decrease resulted from a substantial
drop in claims o f foreign-owned banks in the United
States, reflecting a cutback in lending to their own of
fices abroad. In contrast, claims o f U.S.-owned banks
increased. Claims of securities brokers and dealers in
creased as a result of substantial lending by foreignowned brokers early in the quarter.
Claims of all major types o f U.S. reporting insti
tutions, including U.S.-owned banks and securities
Chart 6. U.S. Claims and Liabilities Reported by U.S.
32
U.S. International Transactions
brokers and foreign-owned banks and securities bro
kers, decreased in September. In the last half of Sep
tember, financial institutions became very reluctant to
lend to each other, and several U.S. and foreign finan
cial institutions experienced liquidity difficulties.
Spreads on interbank lending rose sharply, and lending
moved to a predominantly overnight basis (chart 7). In
response, U.S. and foreign governmental authorities
provided large-scale support to financial markets
through injections of liquidity, direct financial support
o f several troubled financial institutions, and facilita
tion of the sale of other troubled financial institutions.
In liquidity operations, U.S. monetary authorities ex
panded the types of collateral that could be pledged
under the Term Securities Lending Facility and the Pri
mary Dealer Credit Facility and increased the credit
available under the Term Auction Facility. In addition,
U.S. and foreign central banks substantially increased
the U.S. dollar funds available to foreign markets un
der swap lines.
Banks’ domestic customers’ claims denominated in
dollars decreased $50.9 billion after a decrease of $57.4
Chart 7. Money Market Yields and Spreads________
Percent
7 --------------------------------YIELDS'
January 2009
billion. The two consecutive decreases mostly resulted
from decreases in customers’ dollar deposits and bro
kerage balances at banks abroad. In the third quarter,
customers’ holdings of foreign commercial paper also
fell substantially, as the commercial paper market ex
perienced severe difficulties in the last half of Septem
ber.
Claims reported by U.S. nonbanking concerns de
creased $53.8 billion in the third quarter after a de
crease of $49.3 billion in the second quarter. These
claims have decreased in every quarter since the third
quarter of 2007. The decreases over the period resulted
from declines in deposits abroad and in financial inter
mediaries’ claims, largely reflecting transfers o f funds
to U.S. financial intermediaries that were unable to roll
over maturing asset-backed commercial paper.
Foreign securities. Transactions in foreign securi
ties shifted to net U.S. sales of $86.8 billion in the third
quarter from net U.S. purchases o f $33.6 billion in the
second quarter. Both the shift and the net sales were
the largest on record.
Net U.S. sales of foreign bonds were $72.0 billion, a
shift from net U.S. purchases o f $12.2 billion (chart 8).
In the five quarters preceding the third quarter of 2007,
U.S. investors had net purchases of foreign bonds in
excess of $50 billion per quarter. After the third quarter
of 2007, net U.S. purchases have been much smaller,
and net U.S. sales in the third quarter were by far the
largest net sales ever. Net sales occurred in every
month of the third quarter, but they were largest in
Chart 8. Transactions in Foreign Securities,
2006: IV-2008: III1
Billion $
2008:11
1.30-day yields.
LIBOR London Interbank Offered Rate
Data: British Bankers' Association, Federal Reserve Board.
U.S. Bureau of Economic Analysis
2008:111
1. Under balance-of-payments concepts, net U.S. purchases are shown with a negative sign
in tables 1-12, and net U.S. sales are shown with a positive sign.
U.S. Bureau of Economic Analysis
January 2009
S u r v ey o f C urren t B usiness
September. Global bond prices edged higher in the first
2 months of the quarter, as concerns about inflationary
pressures eased and as it became increasingly evident
that global economic activity was slowing. In Septem
ber, global corporate bond prices fell sharply, and
credit spreads rose considerably, as several large U.S.
and European financial institutions experienced severe
difficulties. Global bond issuance plummeted in the
third quarter. Transactions in foreign bonds with Eu
rope shifted to substantial net U.S. sales, largely reflect
ing net sales to France, Spain, and the United
Kingdom. Transactions with “other” areas (mainly
Australia), with Canada, and with Caribbean financial
centers also shifted to net U.S. sales. These shifts were
partly offset by a substantial decrease in net U.S. sales
to Asia.
Net U.S. sales of foreign stocks were $14.8 billion, a
shift from net U.S. purchases of $21.4 billion. The net
sales mostly resulted from large net sales in July, when
foreign stock prices fell moderately. For the quarter,
foreign stock markets declined nearly 16 percent in lo
cal currency terms, mostly as a result of sharp declines
in September. Transactions in foreign stocks with the
United Kingdom and Canada shifted to net U.S. sales,
and net U.S. sales to Hong Kong and Japan increased.
These changes were partly offset by a substantial in
crease in net U.S. purchases from Caribbean financial
centers.
Direct investment. Net financial outflows for U.S.
direct investment abroad were $56.9 billion in the
third quarter, down from $84.0 billion in the second
quarter. The slowdown largely resulted from a shift
from an increase to a decrease in net intercompany
debt investment abroad, reflecting foreign affiliates’ re
payments of previously borrowed funds to their U.S.
parents. In addition, reinvested earnings fell partly as a
result of a decrease in U.S. parents’ earnings. In con
trast, net equity capital investment abroad picked up.
Foreign-owned assets in the United States
Net foreign-owned assets in the United States in
creased $125.7 billion in the third quarter after an in
crease of $22.7 billion in the second quarter. The
pickup largely resulted from an increase in liabilities
reported by U.S. nonbanking concerns in the third
quarter after a decrease in the second quarter and a
smaller decrease in liabilities reported by U.S. banks.
These changes were partly offset by a shift to net for
eign sales of U.S. securities other than U.S. Treasury se
curities from net foreign purchases.
Foreign official assets. Foreign official assets in the
United States increased $117.7 billion in the third
quarter after an increase of $145.4 billion in the second
quarter. By area, the third-quarter increase was more
33
than accounted for by a strong rise in the assets of
Asian countries. By instrument, the increase was al
most entirely accounted for by a strong rise in net pur
chases of U.S. Treasury securities. Net foreign official
purchases of long-term U.S. Treasury bonds and notes
were substantial, and net purchases of short-term U.S.
Treasury bills and certificates were unusually large. In
contrast, net foreign official transactions in other U.S.
securities, mainly federally sponsored agency securi
ties, shifted to net sales from large net purchases.
Liabilities reported by banks and by nonbanks.
U.S. liabilities reported by U.S. banks and securities
brokers, excluding U.S. Treasury securities, decreased
$147.9 billion in the third quarter after a very large de
crease of $256.6 billion in the second quarter (chart 6).
The two consecutive large decreases, in conjunction
with two consecutive large decreases in U.S. claims on
foreigners reported by U.S. banks and brokers, repre
sented a significant cutback in international lending
and borrowing by these institutions.
Banks’ own liabilities denominated in dollars de
creased $64.8 billion after a decrease of $237.3 billion.
The third-quarter decrease resulted from a decrease in
liabilities of securities brokers, as an exceptionally large
drop in U.S.-owned brokers’ liabilities was only partly
offset by a rise in foreign-owned brokers’ liabilities. Li
abilities of banks increased, mostly as a result of an in
crease in foreign-owned banks’ liabilities.
As with banks’ own claims, there were substantial
changes in banks’ own liabilities in September. U.S.owned brokers' liabilities fell sharply, mostly reflecting
brokers' repayments of funds at the maturity of repur
chase agreements, which are an important short-term
borrowing instrument for brokers. New borrowing
was limited by the bankruptcy of a major U.S. invest
ment bank and funding difficulties at other U.S. invest
ment banks. In contrast, liabilities of foreign-owned
banks and brokers in the United Sates increased
strongly in September. The increases coincided with
foreign central bank auctions of U.S. dollar funds to
banks in Europe, which initially deposited the funds
with their own offices in the United States.
Banks’ customers’ liabilities denominated in dollars
decreased $65.2 billion after a decrease of $6.9 billion.
The large third-quarter decrease was accounted for by
decreases in negotiable certificates of deposit and other
short-term instruments and in “other” liabilities.
U.S. liabilities reported by U.S. nonbanking con
cerns increased $83.6 billion in the third quarter after a
decrease of $54.4 billion in the second quarter. The in
crease mostly reflected an increase in borrowing from
the United Kingdom.
U.S. Treasury securities. Net foreign purchases of
U.S. Treasury securities were $89.5 billion in the third
34
U.S. International Transactions
quarter, up from $65.7 billion in the second quarter
(chart 9). Net foreign purchases of U.S. Treasury secu
rities have been strong since the third quarter of 2007.
In the third quarter of 2008, investors became ex
tremely risk averse near the end of the quarter when fi
nancial market turmoil intensified. Demand for short
term U.S. Treasury securities was exceptionally strong,
and yields on 3-month Treasury bills fell to the lowest
level in more than 50 years. Net foreign purchases of
short-term U.S. Treasury securities were $75.4 billion,
the strongest quarterly net purchases on record by far.
The next largest net foreign purchases were $47.9 bil
lion in the first quarter of 2008, which were much
larger than in any previous quarter.
Other U.S. securities. Transactions in U.S. securities
other than U.S. Treasury securities shifted to net for
eign sales of $89.2 billion in the third quarter from net
foreign purchases of $17.1 billion in the second quar
ter. The size of the net sales was unprecedented, reflect
ing net foreign sales of U.S. corporate bonds and of
U.S. federally sponsored agency bonds.
Net foreign sales of U.S. corporate bonds were $34.7
billion, a shift from net foreign purchases of $50.6 bil
lion. In the four quarters preceding the third quarter of
2007, foreign investors had very large net purchases of
U.S. corporate bonds. Since the third quarter of 2007,
foreign investors had net sales in three out of five quar
ters, and the net sales in the third quarter o f 2008 were
the largest ever by far. Net foreign sales of U.S. corpo
rate bonds occurred in every month o f the third quar
ter. Conditions in U.S. corporate bond markets
January 2009
deteriorated steadily through most of the quarter,
amid indications that the U.S. economy was slowing
and that financial institutions were experiencing addi
tional significant losses. Spreads on corporate bonds
widened, and new issue volume fell substantially. In
late September, corporate bond prices fell sharply, and
spreads rose to record levels (chart 10).
Net foreign sales of U.S. federally sponsored agency
bonds were $57.0 billion, up from $32.8 billion. Net
sales of agency bonds by investors in Europe and in
Asia, particularly Japan, increased substantially. In
contrast, transactions by investors in Caribbean finan
cial centers shifted to net purchases from net sales. The
third-quarter net foreign sales were exceptionally large.
Concerns about the financial soundness of two large
government-sponsored housing agencies increased in
July, prompting the U.S. government to temporarily
increase the lines of credit available to the agencies and
authorize U.S. government equity investment in the
agencies. Concerns intensified in August, and spreads
on agency debt securities rose substantially. The U.S.
government placed both agencies into conservatorship
on September 7.
Chart 10. U.S. Bond Yields and Spreads__________
Percent
14
12
10
8
Chart 9. Transactions in U.S. Debt Securities,
2006:1V—2008:111_______________________________
6
Billion $
4
■ Corporate bonds
160
« Agency bonds
■ U.S.Treasury securities
140
2 0 0 8 :ll
2 0 0 8 :lll
2008:11
2 0 0 8 :111
12
120
100
10
80
Net foreign purchases (+)
8
60
ll
40
20
0
-2 0
6
I I I 1 I I lllll lllllill
4
2
Net foreign sales (-)
-4 0
-6 0
2
I
I
I
I
I
I
2 0 0 6 :IV—20 0 8 :111
2 0 0 6 :IV - 2 0 0 8 :III
N o t e . Excludes transactions in foreign official assets.
U.S. Bureau of Economic Analysis
2 0 0 6 :IV - 2 00 8 :III
Source: Merrill Lynch.
U.S. Bureau of Economic Analysis
January 2009
S u r v ey o f C u rren t B usiness
Net foreign purchases of U.S. stocks were $2.5 bil
lion, a shift from net foreign sales of $0.7 billion. In the
last three quarters, foreign transactions have been
small net purchases or net sales. Net purchases by in
vestors in Europe have weakened considerably, and
transactions by investors in Caribbean financial cen
ters have been large net sales or small net purchases. In
the third quarter, transactions by investors in Carib
bean financial centers shifted to net purchases from
large net sales. In contrast, transactions by investors
from Asia shifted to net sales from net purchases.
U.S. currency. Net U.S. currency shipments to for
eigners were $5.8 billion in the third quarter, up from
$0.2 billion in the second quarter.
35
Direct investment. Net financial inflows for foreign
direct investment in the United States were $66.1 bil
lion in the third quarter, down from $105.3 billion in
the second quarter. The slowdown almost entirely re
sulted from a slowdown in net intercompany debt in
vestment in the United States. Borrowing by U.S.
affiliates from their foreign parents was minimal in the
third quarter after very strong borrowing in the second
quarter. In addition, reinvested earnings fell as a result
of a decrease in U.S. affiliates’ earnings. In contrast, net
equity capital investment edged up, mostly as a result
of equity capital investment in finance and insurance
affiliates.
Tables 1 through 12 follow.
36
U.S. International Transactions
January 2009
Table 1. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits - ) 1
2007
2007
I
1
2
3
4
5
6
/
8
9
10
11
12
13
14
16
1b
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
40
54
55
56
57
58
59
60
61
62
63
64
65
66
6/
68
69
70
71
/1a
72
73
74
75
76
77
2008
III
IV
Current account
Exports of goods and services and income receipts........................... 2,463,505 566,539 608,364 634,480 654,122
Exports of goods and services........................................................... 1,645,726 381,201 404,467 420,832 439,225
Goods, balance of payments basis2............................................... 1,148,481 267,716 285,008 287,925 307,832
Services 3.....................................................................................
497,245 113,485 119,459 132,908 131,393
Transfers under U.S. military agency sales contracts 4..................
16,052
4,629
4,000
3,881
3,542
Travel.......................................................................................
96,712
24,387
19,658
29,159
23,508
Passenger fares........................................................................
25,586
5,529
5,848
6,868
7,340
Other transportation..........
51,586
11,873
12,575
13,018
14,120
Royalties and license fees 5
82,614
19,683
18,490
21,588
22,853
Other private services 5....
223,483
53,010
52,679
58,084
59,710
U.S. government miscellaneous services.....................................
1,212
296
288
309
320
Income receipts........................
817,779 185,339 203,897 213,647 214,897
Income receipts on U.S.-owned assets abroad.................................
814,807 184,606 203,160 212,901 214,141
Direct investment receipts...
91,434
95,105
99,764
368,275
81,973
Other private receipts.......
444,299 102,063 111,187 117,275 113,774
U.S. government receipts...
570
521
603
2,233
539
Compensation of employees...
2,972
733
737
746
756
Imports of goods and services and income payments......................... -3,082,014 -713,978 -777,437 -793,312 -797,288
Imports of goods and services............................................................ -2,345,984 -541,050 -583,705 -603,246 -617,983
Goods, balance of payments basis 2............................................... -1,967,853 -454,424 -487,304 -503,513 -522,612
Sen/ices 3.....................................................................................
-378,130 -86,626 -96,401 -99,733 -95,371
Direct defense expenditures.......................................................
-32,820
-7,915
-8,085
-8,132
-8,688
Travel...................
-76,167 -15,837 -21,390 -21,916 -17,024
Passenger fares....
-6,158
-7,588
-7,841
-6,899
-28,486
Other transportation...................................................................
-67,050 -15,570 -16,903 -17,476 -17,101
Royalties and license fees 5........................................................
-25,048
-6,386
-6,004
-6,646
-6,011
Other private services 5................
-144,375 -33,744 -35,406 -37,294 -37,931
U.S. government miscellaneous services.....................................
-4,184
-1,016
-1,018
-1,069
-1,081
Income payments.................................
-736,030 -172,928 -193,732 -190,066 -179,305
Income payments on foreign-owned assets in the United States.......
-726,031 -170,529 -191,353 -187,602 -176,548
Direct investment payments...........
-134,414 -32,097 -41,982 -34,800 -25,536
Other private payments................
-426,515 -99,373 -107,963 -110,898 -108,281
U.S. government payments............
-165,102 -39,059 -41,408 -41,904 -42,731
Compensation of employees...........................................................
-2,399
-2,379
-2,464
-2,757
-9,999
Unilateral current transfers, net........................................................... -112,705 -30,543 -24,299 -27,693 -30,171
U.S. government grants 4...................................................................
-33,237 -10,567
-9,950
-5,611
-7,109
U.S. government pensions and other transfers.....................................
-1,540
-1,777
-7,323
-1,260
-2,746
Private remittances and other transfers 6.............................................
-72,145 -18,436 -16,910 -19,324 -17,475
Capital account
39 Capital account transactions, net........................................................
41
42
43
44
4b
46
47
48
49
50
51
52
53
II
-1,843
-543
-112
-617
-571
2007
2008
1
II'
III "
1
II
III
IV
644,178
446,177
315,351
130,826
4,371
24,152
7,077
14,277
20,916
59,735
299
198,001
197,238
95,434
101,088
716
763
-767,073
-601,621
-507,017
-94,603
-8,769
-17,410
-7,277
-17,192
-6,428
-36,444
-1,083
-165,452
-162,938
-25,884
-94,302
-42,752
-2,514
-32,408
-9,990
-1,680
-20,738
676,958
478,512
341,526
136,985
3,554
29,112
7,732
15,673
22,387
58,219
308
198,446
197,679
103,541
93,412
726
767
-831,466
-661,838
-556,515
-105,323
-8,986
-23,084
-8,721
-18,773
-6,352
-38,320
-1,088
-169,628
-167,200
-38,122
-86,115
-42,963
-2,428
-28,214
-7,305
-2,014
-18,895
679,785
484,947
338,138
146,809
3,570
33,662
8,888
15,939
23,034
61,401
315
194,838
194,093
98,275
94,759
1,059
745
-846,437
-683,299
-575,389
-107,910
-9,150
-22,907
-8,704
-19,276
-7,503
-39,263
-1,107
-163,139
-160,628
-32,123
-86,987
-41,518
-2,511
-28,231
-7,117
-1,539
-19,575
572,182
385,436
270,318
115,118
4,629
21,818
5,800
12,076
18,991
51,508
296
186,746
186,013
83,391
102,063
559
733
-738,938
-564,979
-473,681
-91,298
-7,915
-18,538
-6,721
-16,022
-6,643
-34,444
-1,016
-173,959
-171,560
-33,128
-99,373
-39,059
-2,399
-30,174
-10,567
-1,805
-17,802
602,122
399,951
279,488
120,463
4,000
23,154
5,996
12,639
19,866
54,521
288
202,171
201,434
89,673
111,187
574
737
-771,262
-578,770
-485,375
-93,395
-8,085
-18,849
-6,979
-16,767
-6,260
-35,437
-1,018
-192,492
-189,991
-40,620
-107,963
-41,408
-2,501
-24,953
-5,611
-1,834
-17,508
638,393
424,873
295,494
129,378
3,881
25,241
6,530
13,081
21,940
58,396
309
213,520
212,774
94,953
117,275
546
746
-783,548
-592,986
-496,698
-96,288
-8,132
-19,247
-7,422
-17,119
-6,155
-37,145
-1,069
-190,562
-188,045
-35,243
-110,898
-41,904
-2,517
-27,796
-7,109
-1,837
-18,850
650,808
435,465
303,180
132,285
3,542
26,499
7,259
13,790
21,817
59,056
320
215,343
214,587
100,259
113,774
554
756
-788,264
-609,248
-512,099
-97,149
-8,688
-19,533
-7,364
-17,142
-5,991
-37,350
-1,081
-179,016
-176,436
-25,424
-108,281
-42,731
-2,580
-29,784
-9,950
-1,849
-17,985
-600
-631
-593
-543
-112
-617
-571
-600
98,197
-1,267
0
-22
-955
-290
-41,592
-1,106
497
-40,983
141,056
-88,551
-33,576
-3,697
-179
0
-30
256
-405
-225,994
-338
597
-226,253
222,476
-70,073
86,768
-442,065
-72
0
-43
212
-241
445
-608
1,091
-38
-442,438
-66,706
-99,541
-523,556
26
0
-39
294
-229
-596
-1,405
687
122
-522,985
-93,616
-84,671
-170,476
-54
0
-37
230
-247
623
-182
780
25
-171,045
-62,043
-100,317
-153,757
-22
0
-35
285
-272
-22,744
-279
1,546
-24,011
-130,990
-110,905
-4,202
-260,644
-276
0
-29
112
-359
3,265
-179
487
2,957
-263,634
-89,100
-35,066
Financial account
U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow (-))........................................................................ -1,289,854 -448,713 -526,163 -179,448 -135,529 -272,093
U.S. official reserve assets.................................................................
-122
-72
26
-54
-22
-276
Gold 7..........................................................................................
0
0
0
0
0
0
Special drawing rights....................................................................
-154
-43
-37
-35
-29
-39
Resen/e position in the International Monetary Fund........................
294
1,021
212
285
230
112
Foreign currencies........................................................................
-241
-247
-272
-989
-229
-359
U.S. government assets, other than official reserve assets....................
-596
-22,273
445
623 -22,744
3,265
-608
-1,405
-182
-279
U.S. credits and other long-term assets...........................................
-2,475
-179
4,104
687
Repayments on U.S. credits and other long-term assets 8................
1,091
780
1,546
487
U.S. foreign currency holdings and U.S. short-term assets................
122
-23,902
-38
25 -24,011
2,957
U.S. private assets............................................................................. -1,267,459 -449,086 -525,593 -180,017 -112,763 -275,082
Direct investment..........................................................................
-333,271 -73,354 -96,224 -71,015 -92,678 -100,548
Foreign securities..........................................................................
-288,731 -99,541 -84,671 -100,317
-4,202 -35,066
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
80,012 100,043
concerns...........................7.......................................................
-706 -46,048 -134,713
81,848
U.S. claims reported by U.S. banks, not included elsewhere.............. -644,751 -230,143 -209,985 -88,697 -115,926 -221,316
Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+))........................................ 2,057,703 692,604 720,720 267,216 377,162 459,399
88,822
Foreign official assets in the United States..........................................
411,058 163,270
13,469 145,497 173,533
U.S. government securities...
230,330 121,640
61,641
-7,788
54,837 167,883
40,337
U.S. Treasury securities 9...
58,865
1,610 -25,810
42,728
88,649
Other10...........................
81,303
18,022
171,465
60,031
12,109
79,234
Other U.S. government liabilities 11.................................................
5,342
366
4,132
-69
913
1,645
U.S. liabilities reported by U.S. banks, not included elsewhere...........
15,956
52,537 -26,930
108,695
30,329
9,873
Other foreign official assets 12.........................................................
66,691
10,935
11,294
10,471
33,991
30,935
Other foreign assets in the United States............................................. 1,646,645 529,334 631,898 253,747 231,665 285,866
Direct investment..........................................................................
237,542
13,917
64,470 106,648 52,506
80,819
U.S. Treasury securities.................................................................
42,882 -13,522
156,825
67,406
60,059
63,263
573,850 183,507 310,340 -30,486 110,489 -20,475
U.S. securities other than U.S. Treasury securities...........................
U.S. currency................................................................................
-6,165
-1,635
-10,675
655
-3,530
-914
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns..................................................................................
156,290
90,061 122,476
55,599 -111,846
84,085
U.S. liabilities reported by U.S. banks, not included elsewhere...........
532,813 205,132 149,769
53,925 123,987
79,088
Financial derivatives, net.....................................................................
6,496
14,795
-1,007
5,942 -13,234
-8,001
Statistical discrepancy (sum of above items with sign reversed).........
-41,287 -80,161
-66
93,431 -54,491 -23,403
Of which: Seasonal adjustment discrepancy........................................
Memoranda:
Balance on goods (lines 3 and 20).......................................................... -819,373 -186,708 -202,296 -215,588 -214,780 -191,666
Balance on services (lines 4 and 21).......................................................
26,859
23,058
36,023
119,115
33,175
36,223
Balance on goods and services (lines 2 and 19)......................................
-700,258 -159,849 -179,238 -182,414 -178,757 -155,443
Balance on income (lines 12 and 29)......................................................
81,749
12,410
10,165
23,582
35,592
32,549
Unilateral current transfers, net (line 35)..................................................
-112,705 -30,543 -24,299 -27,693 -30,171 -32,408
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 )13
-731,214 -177,982 -193,372 -186,525 -173,336 -155,302
See the footnotes on pages 60-61.
Seasonally adjusted
49,324
213,859
53,787 -46,048 -134,713
151,994 -230,143 -209,985
25,630 125,948
145,391 117,663
151,288 108,118
58,143 116,479
93,145
-8,361
1,714
2,439
-30,055
9,617
21,719
-1,786
-119,761
8,285
108,215
66,373
65,692
89,506
17,068 -89,163
230
5,845
692,713 718,112
163,270
88,822
61,641
121,640
40,337
1,610
81,303
60,031
366
-69
30,329
15,956
10,935
11,294
529,443 629,290
61,862
14,026
42,882 -13,522
183,507 310,340
-6,165
-1,635
83,598
-54,350
-256,616 -147,874
-2,519
n.a.
62,045
73,226
90,061
205,132
14,795
-67,970
12,192
-214,988
31,662
-183,326
28,819
-28,214
-182,722
I
III p
651,473 671,944 683,708
451,645 475,498 489,053
317,813 337,312 346,536
133,833 138,186 142,518
4,371
3,554
3,570
27,060
28,053
29,468
7,623
7,687
8,462
14,632
15,791
15,820
21,559
22,577
23,310
58,289
61,572
60,216
299
308
315
199,827 196,446 194,655
199,064 195,679 193,910
97,262 101,524
98,068
101,088
93,412
94,759
714
743
1,083
763
767
745
-795,371 -823,859 -829,408
-628,756 -655,578 -665,589
-528,845 -553,641 -561,246
-99,910 -101,937 -104,343
-8,769
-8,986
-9,150
-20,403 -20,292 -20,168
-7,928
-8,033
-8,245
-17,869 -18,563 -18,838
-6,663
-7,727
-6,626
-37,196 -38,349 -39,108
-1,083
-1,107
-1,088
-166,615 -168,282 -163,819
-164,055 -165,734 -161,274
-27,001 -36,656 -32,769
-94,302 -86,115 -86,987
-42,752 -42,963 -41,518
-2,560
-2,547
-2,545
-31,742 -29,028 -28,390
-9,990
-7,117
-7,305
-1,951
-1,966
-1,970
-19,801 -19,757 -19,303
80,012 100,043
81,848
-88,697 -115,926 -221,316
266,476
13,469
-7,788
-25,810
18,022
913
9,873
10,471
253,007
105,908
67,406
-30,486
655
II r
-631
-593
102,698
9,505
-1,267
-179
0
0
-22
-30
-955
256
-290
-405
-41,592 -225,994
-338
-1,106
497
597
-40,983 -226,253
145,558 235,678
-84,049 -56,871
-33,576
86,768
49,324
213,859
53,787
151,994
380,402 459,017
22,719
145,497 173,533 145,391
54,837 167,883 151,288
42,728
88,649
58,143
79,234
12,109
93,145
4,132
1,645
2,439
52,537 -26,930 -30,055
33,991
30,935
21,719
234,905 285,484 -122,672
80,437 105,304
55,746
60,059
63,263
65,692
110,489 -20,475
17,068
-3,530
-914
230
125,692
117,663
108,118
116,479
-8,361
1,714
9,617
-1,786
8,029
66,117
89,506
-89,163
5,845
122,476
55,599 -111,846
84,085 -54,350
83,598
149,769
53,925 123,987
79,088 -256,616 -147,874
-1,007
5,942 -13,234
-8,001
-2,519
n.a.
656
71,627 -45,600 -14,131
58,677
39,487
722 -21,805
8,892
9,271
-3,368 -33,739
-237,251 -203,363 -205,887 -201,204 -208,919 -211,032 -216,328 -214,710
38,900
23,820
27,068
33,922
33,090
35,136
36,249
38,175
-198,351 -179,543 -178,819 -168,114 -173,783 -177,110 -180,079 -176,536
31,699
12,787
9,679
36,327
33,212
22,958
28,164
30,835
-28,231 -30,174 -24,953 -27,796 -29,784 -31,742 -29,028 -28,390
-194,883 -196,930 -194,093 -172,952 -167,241 -175,640 -180,944 -174,091
January 2009
37
S u rv ey o f C u rren t B usiness
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
2007
Line
2007
II
I
2007
2008
III
IV
II
I
I
III "
II
2008
IV
III
III p
II
I
A Balance of payments adjustments to Census trade data:
EXPORTS
1 Exports of goods, Census basis 1 including reexports and including
military grant shipm ents...........................................................................
2
3
4
5
6
7
1,162,479 271,350 288,690 291,067 311,373 317,564 343,606 340,499 273,952 283,170 298,637 306,721 320,027 339,393 348,895
Adjustments:
Private gift parcel remittances......................................................................
Gold exports, nonmonetary..........................................................................
1,115
0
256
0
262
0
265
0
332
0
248
0
245
0
235
0
256
0
262
0
265
0
332
0
248
0
245
0
235
0
Exports transferred under U.S. military agency sales contracts identified in
Census documents 3................................................................................
Other adjustments, n e t4..............................................................................
-11,057
-4,057
-2,866
-1,024
-2,788
-1,156
-2,508
-899
-2,895
-978
-1,546
-915
-1,308
-1,017
-1,554
-1,042
-2,866
-1,024
-2,788
-1,156
-2,508
-899
-2,895
-978
-1,546
-915
-1,308
-1,017
-1,554
-1,042
8 Equals: Exports of goods, adjusted to balance of payments basis,
excluding “ military” (table 1, line 3 ).........................................................
1,148,481 267,716 285,008 287,925 307,832 315,351 341,526 338,138 270,318 279,488 295,494 303,180 317,813 337,312 346,536
IMPORTS
9 Imports of goods, Census basis 1 (general im ports).................................
Adjustments:
Electric energy.............................................................................................
10
Gold imports, nonmonetary..........................................................................
11
12
Inland freight in Canada...............................................................................
13
Imports of U.S. military agencies identified in Census documents 3.............
14
15
Other adjustments, n e t5 6............................................................................
16 Equals: Imports of goods, adjusted to balance of payments basis,
excluding “ military” (table 1, line 20).......................................................
1,956,962 451,989 484,369 500,303 520,301 502,982 553,463 572,255 471,246 482,440 493,488 509,788 524,810 550,589 558,112
460
4,147
4,846
115
838
1,235
71
1,397
1,248
131
1,414
1,185
143
498
1,178
120
2,550
1,208
120
1,588
1,211
120
1,666
1,133
115
838
1,235
71
1,397
1,248
131
1,414
1,185
143
498
1,178
120
2,550
1,208
120
1,588
1,211
120
1,666
1,133
-1,706
3,144
-400
647
-453
672
-417
897
-436
928
-534
691
-459
592
-521
736
-400
647
-453
672
-417
897
-436
928
-534
691
-459
592
-521
736
1,967,853 454,424 487,304 503,513 522,612 507,017 556,515 575,389 473,681 485,375 496,698 512,099 528,845 553,641 561,246
B Trade in goods, by area and country, adjusted to balance of payments
basis, excluding m ilita ry:7
EXPORTS
1 Total, all countries (A-8)................................................................................
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Europe.........................................................................................................
European Union
Euro area
Austria......
Belgium....
Finland.....................................................................................................
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands..............................................................................................
Norway....................................................................................................
Portugal
Russia
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other Europe............................................................................................
24
Canada 2.....................................................................................................
25
26
27
28
29
30
31
3?
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
Latin America and Other Western Hemisphere.......................................
South and Central America......................................................................
Argentina.............................................................................................
Brazil...................................................................................................
Chile....................................................................................................
Colombia.............................................................................................
Mexico.................................................................................................
Venezuela............................................................................................
Other...................................................................................................
Other Western Hemisphere.....................................................................
1,148,481 267,716 285,008 287,925 307,832 315,351 341,526 338,138 270,318 279,488
280,845 68,594 71,828 68,610 71,813 81,372 87,322 82,296 69,409 70,236
242,244 60,675 60,850 58,654 62,065 68,047 72,622 67,567 61,409 59,456
178,328 44,551 43,853 43,723 46,200 50,291 53,215 50,289 45,117 42,843
787
734
644
973
3,163
756
669
654
735
951
5,834
6,402
6,644
7,160
7,831
7,403
6,195
25,153
5,758
6,350
779
794
1,124
720
3,068
714
788
788
1,075
769
6,438
6,854
6,954
7,032
6,750
27,133
6,912
6,929
7,948
7,045
49,025 11,737 12,171 12,392 12,726 13,227 14,541 13,594 11,876 11,899
397
491
1,822
334
328
357
480
811
325
803
8,997
2,033
2,779
2,207
1,781
2,689
1,874
2,653
1,916
2,395
3,830
4,399
3,476
3,341
13,893
3,436
3,420
3,253
3,785
3,676
128
941
124
155
381
281
166
192
450
155
8,722
32,670
7,979
7,679
8,379 10,262
9,827 10,153
7,801
8,633
754
682
734
2,929
699
801
865
956
769
675
2,447
672
648
596
638
672
618
569
636
565
2,642
1,382
7,334
1,786
2,050
2,121
2,125
2,534
1,768
1,378
2,334
2,574
2,612
3,141
3,207
2,219
9,718
2,199
3,106
2,291
1,024
1,146
1,299
1,096
1,182
4,450
1,083
1,208
1,135
1,415
3,332
5,429
4,458
6,348
5,618
5,303
16,940
3,268
3,785
5,743
1,654
1,489
2,032
3,237
1,468
6,306
1,476
1,688
3,140
1,645
48,733 12,481 13,048 11,334 11,871 13,965 14,770 12,909 12,609 12,751
3,914
5,771
5,695
3,791
4,082
16,121
3,750
4,172
4,285
4,776
249,712 58,178 63,922 61,452 66,159 64,624 71,897 66,959 58,749 62,705
56,337
51,870
1,240
5,635
1,632
1,897
32,476
2,251
6,738
4,467
63,910
58,918
1,639
6,550
2,113
2,313
35,827
2,738
7,738
4,992
64,172
58,210
1,624
6,952
2,404
2,353
33,868
2,531
8,479
5,962
67,535
61,670
1,672
7,006
2,699
2,871
36,235
2,486
8,701
5,865
73,015
66,961
2,198
7,756
3,717
2,758
37,720
2,996
9,816
6,054
80,743
74,132
2,067
9,936
3,200
3,265
41,619
3,494
10,551
6,611
90,557
6,000
18,697
5,954
5,988
1,841
17,942
9,299
3,589
2,233
7,082
6,906
2,621
2,404
55,754
51,324
1,228
5,547
1,618
1,884
32,148
2,228
6,671
4,430
59,794
55,243
1,362
5,508
2,097
1,931
34,429
2,733
7,182
4,551
62,264
57,423
1,605
6,430
2,063
2,247
34,891
2,664
7,523
4,842
65,250
59,168
1,636
7,011
2,422
2,404
34,494
2,569
8,633
6,082
66,919
61,098
1,650
6,911
2,677
2,869
35,871
2,472
8,647
5,821
73,800
67,714
2,249
7,900
3,793
2,765
38,078
3,006
9,923
6,086
Asia and Pacific..........................................................................................
Australia...................................................................................................
China........................................................................................................
Hong Kong ...............................................................................................
India........................................................................................................
Indonesia..................................................................................................
Japan .......................................................................................................
Korea, Republic of....................................................................................
Malaysia...................................................................................................
Philippines................................................................................................
Singapore.................................................................................................
Taiwan......................................................................................................
Thailand...................................................................................................
Other........................................................................................................
71,055
4,249
14,614
4,610
2,878
843
15,098
7,823
2,901
1,880
6,687
5,425
1,848
2,199
75,459
4,484
15,852
4,790
3,382
1,131
15,450
8,693
2,783
1,923
6,175
6,880
1,889
2,030
78,121
4,879
16,249
5,231
5,763
1,056
14,751
8,134
2,806
1,831
6,267
6,694
2,275
2,184
83,613
5,024
18,359
5,456
5,494
1,185
15,599
8,996
3,098
2,039
6,745
6,963
2,355
2,300
83,794
5,491
17,954
5,105
4,223
1,439
16,127
8,553
3,225
2,246
7,565
7,027
2,142
2,699
88,696
5,721
18,667
6,025
4,628
1,489
17,285
9,568
3,398
2,074
8,105
6,971
2,275
2,488
49
50
51
52
Middle East.................................................................................................
Israel........................................................................................................
Saudi Arabia.............................................................................................
Other........................................................................................................
43,646
11,794
10,012
21,841
8,789
2,746
1,813
4,229
9,168
2,734
2,027
4,406
11,202
3,197
2,358
5,647
14,488
3,116
3,813
7,559
12,110
3,557
2,511
6,042
53
54
55
56
57
Africa...........................................................................................................
Algeria......................................................................................................
Nigeria......................................................................................................
South Africa.............................................................................................
Other........................................................................................................
22,966
1,64£
2,788
5,50C
13,029
5,346
280
597
1,127
3,342
4,837
281
627
1,293
2,636
6,274
517
739
1,624
3,393
6,509
572
824
1,456
3,657
6,533
395
817
1,52C
3,802
58
International organizations and unallocated...........................................
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Memorandum:
59 Members of OPEC...........................................................................................
48,659
9,695
10,684
12,405
15,876
13,625
15,514
17,992
9,715
10,509
12,784
15,651
13,725
15,429
18,509
58,644
54,160
1,328
5,360
2,050
1,903
33,791
2,673
7,055
4,484
70,220 70,981 82,146 85,737 83,993
59,993 61,387 68,794 71,217 68,888
44,693 45,675 50,776 52,190 51,265
655
656
742
640
799
7,541
6,585
7,244
7,665
6,539
784
799
1,100
1,093
795
7,167
6,777
7,021
7,778
6,575
12,655 12,595 13,371 14,261 13,843
482
488
337
349
404
1,817
2,359
2,171
2,076
2,801
3,757
4,318
3,342
3,736
3,868
464
188
381
276
166
8,304 10,365
9,642 10,361
7,843
794
937
783
719
882
662
630
626
674
616
2,537
2,738
2,114
2,070
2,120
3,144
3,065
3,286
2,653
2,555
1,321
1,125
1,387
1,048
1,159
4,547
3,758
6,354
5,629
5,730
3,324
3,128
1,555
1,639
2,030
11,607 11,766 14,180 14,476 13,167
5,829
4,228
4,822
5,671
4,020
62,968 65,289 65,215 70,847 68,504
243,063
223,158
5,831
24,497
8,199
8,466
135,962
10,193
30,009
19,905
308,248
18,637
65,073
20,087
17,516
4,214
60,898
33,646
11,587
7,673
25,874
25,961
8,367
8,714
See the footnotes on pages 60-61.
78,732
72,319
2,033
9,777
3,124
3,170
40,526
3,398
10,291
6,413
295,494 303,180 317,813 337,312 346,536
88,057 71,653 74,152 80,323 82,120 84,151 88,037
4,303
4,982
4,976
5,529
5,610
5,876
4,376
18,219 14,718 15,610 16,725 18,020 17,985 18,537
5,377
5,942
5,825
4,659
4,693
5,359
5,156
5,424
4,527
2,912
5,906
4,250
5,875
3,275
1,527
834
1,138
1,755
1,137
1,105
1,431
17,318 15,167 15,269 15,249 15,213 16,183 17,333
8,834
8,571
9,549
9,005
7,901
8,545
8,366
2,934
3,063
3,340
3,516
2,722
2,869
3,258
2,080
2,151
1,896
1,895
1,890
1,991
2,253
7,934
6,394
6,699
6,957
6,765
6,016
7,630
6,887
6,846
6,908
6,696
5,47C
6,756
7,055
2,254
2,547
1,875
2,335
2,301
2,163
1,856
2,237
2,496
2,314
2,220
2,256
2,688
2,001
8,824
13,104 14,227
8,975 11,521 14,326 12,241 12,950
3,076
3,496
3,557
3,466
2,776
2,656
3,285
3,599
2,719
1,826
2,417
3,780
2,531
2,678
3,146
1,988
4,222
7,470
6,775
7,615
4,330
5,818
6,111
6,828
6,292
6,727
7,867
5,345
4,777
6,553
6,525
6,708
279
547
320
25
A
277
546
385
316
798
983
971
1,256
595
621
77c
819
1,667
1,438
1,542
1,494
1,521
1,73S
1,133
1,261
3,508
3,930
4,619
3,338
2,617
3,566
3,780
3,900
14,586
3,541
3,219
7,826
8,153
260
1,311
1,784
4,798
38
U.S. International Transactions
January 2009
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2007
2007
I
II
Seasonally adjusted
2008
III
IV
I
II
2007
III»
I
II
2008
III
IV
I
II
III p
B Trade in goods, by area and country, adjusted to balance of payments
basis, excluding m ilitary7—Continues:
IMPORTS
60 Total, all countries (A-16)..............................................................................
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
Europe.........................................................................................................
European Union...................................................................................
Euro area
.......................
Austria
.......................
Belgium
.......................
Finland
.......................
France......................................................................................................
Germany
Greece
Ireland
Italy...
Luxembourg
Netherlands
Norway
Portugal....................................................................................................
Russia......................................................................................................
Spain,
Sweden
Switzerland
Turkey
United Kingdom
Other Europe
83
Canada 2
84
85
86
87
88
89
90
91
92
93
Latin America and Other Western Hemisphere.......................................
South and Central America......................................................................
Argentina
Brazil
Chile
Colombia
Mexico
Venezuela
Other
Other Western Hemisphere......................................................................
94
95
96
97
98
99
100
101
102
103
104
105
106
107
Asia and Pacific
Australia
China............
Hong Kong...
India.........................................................................................................
Indonesia
Japan.
Korea, Republic of
Malaysia
Philippines
Singapore
Taiwan
Thailand
Other.
108
109
110
111
Middle East
Israel..
Saudi Arabia
Other........................................................................................................
112
113
114
115
116
117
Africa....
Algeria
Nigeria
South Africa
Other........................................................................................................
International organizations and unallocated...........................................
Memorandum:
118 Members of OPEC...........................................................................................
See the footnotes on pages 60-61.
1,967,853 454,424 487,304 503,513 522,612 507,017 556,515 575,389 473,681 485,375 496,698
411,179 94,649 104,325 103,689 108,517 106,381 118,311 116,085 98,343 104,245 102,647
356,180 83,514 90,087 89,197 93,382 89,614 97,947 94,393 86,655 90,180 88,428
268,772 63,445 67,690 67,351 70,287 68,195 74,741 70,039 65,777 67,807 66,779
10,691
2,321
2,628
2,211
3,532
2,684
2,127
1,811
2,644
2,410
2,200
15,284
3,560
4,221
3,545
3,958
4,647
4,852
4,251
4,204
3,705
3,497
1,194
5,270
1,581
1,197
1,298
1,632
1,193
1,931
1,247
1,568
1,189
41,544
9,645 10,244 10,797 10,857 10,642 11,424 11,191 10,010 10,271 10,730
94,280 22,227 23,322 24,099 24,632 24,220 26,552 24,511 23,018 23,396 23,905
1,174
252
292
321
308
210
242
241
265
293
316
8,256
30,483
7,818
6,846
7,564
7,842
7,861
7,414
8,529
7,851
6,792
35,027
8,060
8,603
9,102
9,263
8,857
9,485
8,627
9,689
8,358
9,018
526
135
121
128
141
122
139
156
140
129
140
18,371
3,652
4,497
4,961
5,261
4,541
6,131
5,498
4,484
3,816
4,909
7,213
1,629
2,010
1,779
1,794
1,620
2,481
1,823
1,733
1,953
1,729
3,047
752
766
765
763
610
624
628
783
760
748
3,779
19,315
5,196
5,127
5,213
5,357
7,966
8,438
5,097
4,003
4,972
12,586
3,261
2,607
3,469
3,249
2,443
3,017
2,969
3,362
3,458
3,218
13,087
3,412
3,561
2,826
3,288
3,198
3,403
3,065
3,531
3,563
2,801
3,424
16,794
4,258
4,531
4,581
6,489
6,139
6,420
3,549
4,274
4,507
4,596
1,161
1,158
1,126
1,151
1,021
1,160
1,165
1,202
1,156
1,117
56,367 12,485 14,581 14,243 15,058 13,739 15,075 16,033 13,018 14,543 14,111
25,524
5,443
5,991
6,825
7,265
6,948
7,545
9,306
5,664
5,974
6,747
320,323 76,833 81,618 78,764 83,108 83,995 92,714 91,104 80,050 81,256 77,631
348,378 79,538 85,651 89,544 93,645 90,398 100,785 104,707 83,224 84,890 87,885
329,621 74,927 80,791 84,933 88,970 85,677 95,824 99,438 78,389 80,098 83,377
1,065
4,489
999
1,370
1,055
1,346
1,472
1,491
1,120
978
1,020
25,650
5,915
6,441
6,439
6,682
6,855
8,439
8,186
6,165
6,416
6,754
2,531
2,187
9,000
2,315
1,966
2,409
2,050
2,163
2,615
2,191
2,283
9,436
2,031
2,034
2,695
2,676
2,967
3,614
3,826
2,144
2,001
2,619
213,552 49,429 52,863 54,552 56,708 53,146 58,024 57,445 51,483 52,701 53,847
39,910
7,488
9,600 10,181 12,640 11,283 14,441 16,781
8,104
9,182
9,692
27,585
6,468
6,669
7,280
7,168
7,845
8,017
9,312
6,759
6,629
7,161
18,758
4,611
4,860
4,612
4,675
4,721
4,961
5,269
4,792
4,835
4,508
718,562 168,232 174,048 186,964 189,318 172,693 181,269 197,222 174,450 174,665 185,762
8,570
1,885
2,247
2,188
2,250
2,190
2,874
3,056
1,948
2,198
2,232
321,685 71,450 76,644 86,522 87,069 72,767 81,575 96,204 74,187 77,014 86,114
1,521
7,090
1,705
1,886
1,978
1,834
1,723
1,461
1,714
1,581
1,879
5,829
24,102
5,887
5,896
6,490
6,639
6,197
6,693
6,037
5,903
5,854
14,302
3,496
3,517
3,428
3,860
3,662
3,825
4,403
3,627
3,434
3,828
146,037 36,238 35,634 36,310 37,855 37,492 36,384 34,321 37,528 35,764 36,040
47,547 12,023 12,318 11,571 11,636 11,751 12,612 12,487 12,479 12,299 11,435
8,132
32,640
7,649
8,278
8,580
7,969
8,251
7,980
8,414
7,661
8,204
9,411
2,273
2,172
2,496
2,470
2,213
2,294
2,154
2,352
2,181
2,481
4,657
18,423
4,738
4,543
4,486
4,499
3,971
3,918
4,817
4,748
4,512
38,489
8,991
9,454
9,964 10,080
9,049
9,121
9,718
9,321
9,483
9,892
22,757
5,394
5,561
5,802
5,999
5,732
5,882
6,281
5,582
5,578
5,767
27,510
6,342
6,671
7,586
6,910
7,007
6,964
8,033
6,577
6,687
7,525
77,405 15,392 18,868 20,498 22,646 26,232 30,038 33,697 16,411 18,355 19,781
20,780
4,861
5,301
5,657
4,961
5,552
6,232
5,908
5,028
5,317
4,933
35,626
6,225
8,565
9,690 11,146 12,174 14,653 17,412
6,768
8,189
9,218
20,999
4,306
5,003
5,847
5,843
8,506
9,153 10,377
4,615
4,848
5,630
92,005 19,779 22,793 24,053 25,379 27,319 33,398 32,575 21,204 21,964 22,992
17,816
3,806
4,875
5,204
3,931
4,024
6,292
5,532
4,130
4,681
4,940
6,872
32,770
7,065
8,190 10,642 10,496 11,152 10,434
7,423
6,718
7,750
9,047
2,013
2,328
2,270
2,436
2,534
2,831
2,650
2,081
2,329
2,408
32,372
7,089
8,525
8,223
8,535 10,265 13,303 13,778
7,570
8,236
7,893
0
0
0
0
0
0
0
0
0
0
0
174,340
35,087
41,821
45,874
51,558
56,772
67,976
74,267
37,792
40,149
43,778
512,099 528,845 553,641 561,246
105,944 110,310 118,106 113,645
90,917 92,793 98,053 92,634
68,410 70,575 74,839 68,754
2,777
3,437
2,140
1,782
3,878
4,866
4,842
4,145
1,234
1,266
1,899
1,588
10,533 11,025 11,440 10,982
23,962 24,988 26,695 24,123
217
300
244
237
7,311
8,091
7,908
7,292
9,024
9,155
9,715
9,323
117
125
140
154
5,162
4,736
6,042
5,359
1,798
1,706
2,419
1,757
636
755
623
613
5,242
5,723
7,740
8,085
2,549
2,534
2,950
2,955
3,192
3,306
3,421
3,010
4,464
6,613
6,168
6,346
1,054
1,120
1,161
1,140
14,695 14,278 15,048 15,715
7,247
7,139
7,511
9,038
81,386 87,657 92,225 88,790
92,379
87,756
1,371
6,314
1,911
2,672
55,521
12,932
7,036
4,623
94,879
89,926
1,422
6,992
2,487
3,151
55,374
12,275
8,225
4,953
99,716 101,620
94,796 96,482
1,472
1,428
8,084
8,204
2,064
2,133
3,536
3,675
57,866 56,093
13,809 15,905
7,965
9,044
4,920
5,138
183,686 178,242 182,332 194,132
2,193
2,265
2,872
2,993
84,369 75,114 82,100 94,737
1,916
1,778
1,470
1,803
6,308
6,853
6,239
6,590
3,412
3,780
3,845
4,326
36,705 38,658 36,591 33,798
11,334 12,165 12,661 12,257
8,217
8,361
8,303
7,858
2,398
2,280
2,168
2,260
4,347
4,640
3,997
3,855
9,793
9,335
9,178
9,573
5,830
5,915
5,913
6,180
6,721
7,244
6,997
7,902
22,858 28,277 29,084 32,091
5,502
5,723
6,273
5,815
11,451 13,350 14,002 16,451
9,204
5,906
8,809
9,825
25,845 29,481 32,176 30,967
4,392
4,065
6,020
5,240
10,879 11,419 10,683
9,847
2,229
2,610
2,666
2,793
8,672 11,060 12,808 13,087
0
0
0
0
52,620
61,597
65,265
70,391
January
2009
S u r v ey o f C u rren t B usiness
39
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2007
2007
I
II
Seasonally adjusted
2008
III
IV
I
II
2007
III»
I
II
2008
III
IV
I
II
III p
B Trade in goods, by area and country, adjusted to balance of
payments basis, excluding militaryT—Continues:
BALANCE (EXCESS OF EXPORTS +)
119 Total, all countries............................................................................
142
-819,373 -186,706 -202,296 -215,586 -214,780 -191,666 -214,988 -237,251 -203,363 -205,887 -201,204 -208,919 -211,032 r-216,328 -214,710
Europe........................................................................................... -130,334 -26,055 -32,497 -35,078 -36,703 -25,009 -30,989 -33,789 -28,934 -34,010 -32,427 -34,964 -28,163 -32,370 -29,652
European Union..................................................................... -113,936 -22,839 -29,237 -30,543 -31,317 -21,567 -25,325 -26,826 -25,247 -30,724 -28,435 -29,531 -23,999 -26,835 -23,747
Euro area...............................................................................
-90,445 -18,894 -23,837 -23,627 -24,086 -17,903 -21,526 -19,750 -20,660 -24,964 -22,086 -22,735 -19,799 -22,648 -17,490
Austria
-1,424 -2,864 -1,950 -1,474 -1,167 -1,436 -1,910 -1,401
-2,034 -1,500 -1,127
-7,528 -1,369 -1,871
-2,781
Belgium...
2,198
2,129
2,512
2,979
2,129
1,991
3,042
2,707
2,823
3,396
9,869
2,856
2,686
3,153
2,379
-799
Finland....
-2,202
-480
-793
-510
-399
-807
-557
-527
-394
-482
-799
-495
-418
-435
France
-14,411
-2,734 -3,315 -4,359 -4,004 -3,688 -3,476 -4,145 -2,978 -3,521
-4,155 -3,756 -4,004 -3,662 -3,816
Germany.
-45,255 -10,490 -11,152 -11,707 -11,907 -10,993 -12,011 -10,917 -11,142 -11,496 -11,250 -11,367 -11,617 -12,434 -10,280
Greece....
42
187
239
546
32
21
49
187
238
251
648
550
7
49
249
Ireland........................................................................................
-21,486 -5,603 -5,901
-4,813 -5,169 -5,062 -5,654 -5,633 -5,840 -5,977 -4,716 -4,952 -5,290 -5,738 -5,476
Italy.............................................................................................
-21,134 -4,624 -5,183 -5,849 -5,478 -5,027 -5,289 -5,808 -4,882 -5,287 -5,677 -5,288 -5,287 -5,397 -5,566
Luxembourg
-11
26
294
-12
41
310
415
240
160
45
54
26
241
160
49
Netherlands
14,299
3,481
3,119
5,721
4,654
2,934
3,142
3,600
5,002
4,981
2,718
3,696
4,906
3,317
5,629
-974
Norway
-4,283
-954 -1,257 -1,079
-993
-755 -1,525 -1,055 -1,050 -1,219 -1,010 -1,005
-824 -1,482
17
-214
Portugal
-187
62
-132
-129
39
-10
-600
-118
-167
-127
-125
38
48
Russia
-3,329 -2,858 -3,172 -3,602 -5,204 -5,347
-11,980 -2,401
-3,410 -3,076 -3,092 -3,233 -5,432 -5,796 -2,621
Spain
698
137
7
116
331
-2,868 -1,063 -1,135
-675
5
191 -1,143 -1,167
-565
610
Sweden
-8,637 -2,329 -2,353 -1,802 -2,153 -2,052 -1,988 -1,767 -2,435 -2,381
-1,753 -2,068 -2,147 -2,034 -1,689
Switzerland
-157
1,171
-141
-217
-616
146
-73
-795
-396
-802
1,029
40
-705
-260
-539
Turkey
496
537
1,981
1,967
2,185
1,710
315
363
1,011
2,073
266
488
438
519
977
United Kingdom..........................................................................
-7,634
-5
-1,533 -2,909 -3,187
226
-304 -3,123
-409 -1,792 -2,503 -2,930
-97
-572 -2,548
Other Europe..............................................................................
-1,874 -1,891
-2,727 -2,911
-9,403 -1,693 -1,820 -2,911 -2,980 -2,173 -1,775 -3,611
-2,425 -1,840 -3,209
Canada2........................................................................................
-70,611 -18,655 -17,696 -17,312 -16,949 -19,371 -20,817 -24,145 -21,300 -18,551 -14,663 -16,097 -22,442 -21,378 -20,287
143
144
145
146
147
148
149
150
151
152
Latin America and Other Western Hemisphere..........................
South and Central America........................................................
Argentina.................................................................
Brazil...
Chile....
Colombia
Mexico.
Venezuela
O therOther Western Hemisphere........................................
153
154
155
156
157
158
159
160
161
162
163
164
165
166
Asia and Pacific...............
Australia....................................................................................
China..........................................................................................
Hong Kong .................................................................................
India...........................................................................................
Indonesia....................................................................................
Japan .........................................................................................
Korea, Republic of......................................................................
Malaysia.....................................................................................
Philippines..................................................................................
Singapore...................................................................................
Taiwan........................................................................................
Thailand.....................................................................................
Other..........................................................................................
167
168
169
170
171
172
173
174
175
Middle East...................................................................................
Israel..........................................................................................
Saudi Arabia...............................................................................
Other..........................................................................................
Africa.............................................................................................
Algeria........................................................................................
Nigeria........................................................................................
South Africa...............................................................................
Other..........................................................................................
International organizations and unallocated..............................
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
176
Memorandum:
177 Members of OPEC.............................................................................
See the footnotes on pages 60-61.
-105,316 -23,785 -25,857 -27,280 -28,394
-106,463 -23,603 -25,548 -27,510 -29,801
1,342
163
363
266
550
-930
-1,153
-368
-424
570
-801
-913
-91
-252
456
-147
-102
-272
-970
-448
-77,589 -17,281 -18,433 -19,661 -22,214
-6,867 -7,518 -10,072
-29,717 -5,261
512
2,424
203
244
1,465
1,147
-182
-309
1,407
230
-410,314 -97,177 -98,590 -108,843 -105,705
2,364
2,296
10,067
2,629
2,778
-256,611 -56,836 -60,793 -70,273 -68,710
12,997
3,089
3,085
3,478
3,345
-997
-6,586 -2,951
-2,505
-133
-10,087 -2,653 -2,298 -2,804 -2,332
-85,139 -21,140 -20,184 -21,559 -22,256
-4,199 -3,625 -3,436 -2,641
-13,901
-4,866 -5,472 -5,483
-21,052 -5,231
-393
-249
-1,738
-665
-431
1,437
7,451
2,030
1,724
2,260
-12,528 -3,566 -2,575 -3,270 -3,118
-14,390 -3,547 -3,672 -3,527 -3,644
-18,796 -4,144 -4,641 -5,401
-4,610
-23,479
-24,579
305
229
269
-98
-17,275
-8,811
802
1,100
-88,899
3,301
-54,813
3,382
-2,416
-2,223
-21,365
-3,198
-4,744
32
3,065
-2,022
-3,590
-4,308
-25,974 -26,887 -26,247 -23,975 -28,207
-27,119 -26,519 -25,938 -24,459 -29,546
562
120
253
350
619
1,338
-530 -1,056
-204
638
-982
961
-141
-170
493
-247
-656
-98
-306
-319
-16,919 -19,007 -18,909 -18,020 -21,653
-13,382 -5,853 -6,509 -6,954 -10,401
1,443
980
-21
577
426
1,144
-368
484
1,339
-309
-92,573 -109,165 -102,797 -100,512 -105,439 -101,566
2,847
2,820
2,355
2,177
2,751
2,783
-62,907 -77,985 -59,469 -61,404 -69,389 -66,349
3,992
3,078
2,979
3,479
3,461
4,565
-884
-817 -3,125 -2,628
52
-1,569
-2,336 -2,648 -2,792 -2,297 -2,724 -2,274
-19,099 -17,003 -22,361 -20,495 -20,790 -21,492
-3,044 -3,482 -4,578 -3,754 -3,069 -2,500
-4,853 -4,464 -5,481 -4,939 -5,335 -5,298
-406
-80
-143
-456
-285
-590
1,947
2,352
4,134
3,039
1,883
1,269
-2,150 -3,020 -3,851 -2,725 -3,006 -2,946
-3,607 -3,735 -3,707 -3,723 -3,432 -3,529
-4,476 -5,719 -4,357 -4,686 -5,270 -4,484
-26,985
-28,110
759
-287
1,743
-849
-19,946
-11,435
1,906
1,124
-33,759 -6,604 -9,701 -9,296 -8,158 -14,122 -16,934 -19,469 -7,587 -9,380 -8,260 -8,532
-8,986 -2,115 -2,567 -1,764 -2,541
-1,995 -2,675 -2,442 -2,253 -2,661
-1,648 -2,425
-25,614 -4,412 -6,538 -7,332 -7,333 -9,663 -11,934 -14,266 -4,942 -6,201
-6,800 -7,671
-77
1,564
842
-596
-200
1,716 -2,464 -2,325 -2,762
-392
188
-518
-69,039 -14,434 -17,956 -17,779 -18,870 -20,786 -26,690 -24,708 -15,859 -17,188 -16,439 -19,553
-16,167 -3,526 -4,594 -4,687 -3,359 -3,629 -5,976 -5,278 -3,851 -4,404 -4,394 -3,518
-29,983 -6,275 -6,438 -7,451
-9,818 -9,679 -10,182 -9,178 -6,828 -6,097 -6,977 -10,080
-3,547
-886 -1,035
-814 -1,014 -1,129 -1,092
-948 -1,067
-741
-791
-812
-19,343 -3,747 -5,888 -4,829 -4,878 -6,464 -9,403 -9,159 -4,232 -5,619 -4,327 -5,164
0
0
0
0
0
0
0
0
0
0
0
0
-27,344
-28,256
250
14
212
-280
-19,139
-9,789
475
912
-26,702
-27,835
727
-328
1,652
-778
-20,146
-10,813
1,851
1,134
-20,877
-22,350
639
1,732
1,067
-410
-14,474
-12,410
1,508
1,473
-94,091 -94,296 -103,576
3,007
3,264
2,738
-57,129 -63,562 -76,040
4,472
4,150
3,378
-602
-2,603 -1,712
-2,349 -2,318 -2,485
-22,475 -19,258 -15,856
-3,594 -3,112 -2,959
-4,959 -4,963 -4,269
-27
-28
-88
3,937
3,228
2,990
-2,279 -2,270 -2,666
-3,752 -3,659 -3,559
-5,498
-4,555 -4,501
-16,037 -16,134 -17,505
-2,124 -2,777 -2,274
-10,819 -11,324 -13,232
-3,094 -2,033 -1,999
-22,955 -25,449 -22,814
-4,007 -5,700 -4,979
-10,600 -9,700 -8,537
-1,068 -1,172 -1,009
-7,280 -8,877 -8,289
0
0
0
-125,681 -25,393 -31,138 -33,469 -35,682 -43,147 -52,462 -56,275 -28,077 -29,640 -30,994 -36,969 -47,872 -49,836 -51,883
40
U.S. International Transactions
January 2009
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2007
2007
1
II
Seasonally adjusted
2008
III
IV
I
II
2007
III p
I
II
2008
III
IV
I
II
III »
C Trade in goods, by principal end-use category, adjusted to balance of
payments basis, excluding military:
1 Exports of goods, balance of payments basis, excluding military (A-8)... 1,148,481 267,716 285,008 287,925 307,832 315,351 341,526 338,138 270,318 279,488 295,494 303,180 317,813 337,312 346,536
Agricultural products................................................................................
92,115 20,728 20,263 22,383 28,741 30,812 29,432 29,022 19,933 21,517 24,960 25,705 29,455 32,457 32,463
Nonagricultural products......................................................................... 1,056,366 246,988 264,745 265,542 279,091 284,539 312,094 309,116 250,385 257,971 270,534 277,475 288,358 304,855 314,073
Foods, feeds, and beverages...................................................................
84,264 18,931 17,961 20,884 26,488 28,423 26,616 27,144 18,473 19,667 22,471 23,653 27,342 29,929 29,551
Agricultural..............................................................................................
5
77,592 17,409 16,546 18,793 24,844 26,731 25,174 24,998 16,885 18,001 20,758 21,948 25,576 28,238 27,786
Grains and preparations......................................................................
5,628
5,495
8,574
9,604
9,444 10,024
6
26,925
7,228
5,566
5,734
7,392
8,233
9,835 10,229
9,456
7
Wheat..............................................................................................
1,372
2,954
8,450
1,312
2,829
2,937
2,948
3,676
1,405
1,542
2,620
2,883
3,069
3,217
3,357
Corn................................................................................................
8
11,210
2,599
2,518
2,759
3,334
3,979
3,970
3,961
2,971
2,548
2,539
3,152
3,879
4,018
4,255
Soybeans
............................................................................................
1,407
9
10,443
2,991
1,449
4,596
5,579
2,909
2,086
2,125
2,606
2,887
2,825
4,147
5,524
4,322
Meat products and poultry...................................................................
10
9,803
2,061
2,339
2,626
2,777
3,443
3,921
2,769
2,218
2,353
2,615
2,617
2,956
3,461
3,860
11
3,244
3,329
3,252
4,087
Vegetables, fruits, nuts, and preparations...........................................
13,975
4,150
3,772
3,885
3,314
3,367
3,595
3,699
4,277
3,836
4,157
12
Other agricultural foods, feeds, and beverages....................................
16,446
3,485
3,976
4,238
4,747
5,007
5,291
5,082
3,662
3,941
4,269
4,574
5,181
5,261
5,098
13
Nonagricultural (fish, distilled beverages, etc.)........................................
6,672
1,522
1,415
2,091
1,644
1,692
1,442
2,146
1,588
1,666
1,713
1,705
1,766
1,691
1,765
14
Fish and shellfish................................................................................
4,374
860
1,451
1,031
1,032
1,129
796
1,452
1,042
1,112
1,099
1,121
1,034
1,140
1,115
Industrial supplies and materials............................................................
316,361 71,946 79,901 81,256 83,258 92,594 105,567 108,421 72,414 78,208 81,480 84,259 93,059 103,621 108,612
15
Agricultural..............................................................................................
16
14,100
3,600
4,134
4,094
3,201
3,509
3,790
3,950
3,948
2,946
3,410
3,650
3,766
4,108
4,573
17
Raw cotton..........................................................................................
4,591
885
1,505
1,323
1,157
1,468
878
1,281
717
1,582
1,157
1,135
1,067
1,601
1,169
18
Tobacco, unmanufactured...................................................................
162
1,201
380
193
466
285
409
115
288
363
332
218
309
216
401
19
Hides and skins, including furskins
2,183
576
589
523
495
559
589
490
554
537
553
554
539
528
509
1,344
20
6,125
1,470
1,792
Other agricultural industrial supplies...................................................
1,360
1,951
1,825
2,062
1,612
1,388
1,503
1,622
1,862
1,984
2,247
21
Nonagricultural......................
302,261 68,745 76,301 77,747 79,468 88,644 101,433 104,473 69,468 74,798 77,386 80,609 89,293 99,513 104,039
22
Energy products................
48,984
9,847 11,686 12,677 14,774 17,812 23,536 25,496 10,116 11,685 12,567 14,616 18,137 23,471 25,428
23
4,614
1,074
Coal and related products
921
1,296
1,323
1,417
2,445
2,255
1,007
1,042
1,264
1,301
1,567
2,212
2,392
24
Petroleum and products.
37,757
7,542
8,629
9,745 11,841 14,362 18,684 20,963
9,667 11,705 14,538 18,672 20,937
7,725
8,660
25
Natural gas....................
3,164
654
1,268
634
1,367
608
1,164
1,265
654
1,268
608
634
1,164
1,367
1,265
Paper and paper base stocks
26
18,657
4,562
4,333
4,746
5,016
5,045
5,335
5,442
4,345
4,552
4,760
5,000
5,072
5,416
5,326
27
Textile supplies and related materials.................................................
3,157
3,447
12,956
3,365
3,270
3,164
3,254
3,320
3,201
3,276
3,178
3,301
3,299
3,262
3,328
28
Chemicals, excluding medicinals
94,469 22,273 23,754 24,160 24,282 26,146 28,967 29,967 22,319 23,205 24,205 24,740 26,072 28,242 30,024
29
Building materials, except metals
11,361
2,682
2,996
3,171
2,843
2,840
2,843
3,163
2,728
2,853
2,863
2,917
3,172
2,889
3,009
30
Other nonmetals................
27,298
6,652
6,989
6,944
7,365
6,713
6,835
7,418
6,680
6,982
6,751
6,885
6,832
7,124
7,440
31
Metals and nonmetallic products
88,536 19,801 22,949 23,107 22,679 26,709 29,620 29,659 20,079 22,574 22,733 23,150 26,992 29,079 29,231
32
Steelmaking materials....
9,882
2,276
2,565
2,445
2,596
2,751
4,434
4,517
2,359
2,421
2,430
2,672
2,844
4,201
4,430
33
Iron and steel products...
14,637
3,753
3,665
4,980
3,481
3,738
4,278
5,335
3,404
3,621
3,760
3,852
4,187
5,411
4,815
34
Nonferrous m etals........
43,214
9,147 11,301 11,642 11,124 14,189 14,212 13,812
9,344 11,398 11,202 11,270 14,404 14,283 13,464
35
Nonmonetary gold.....
2,999
13,308
2,616
4,123
3,570
6,151
4,760
4,432
2,616
3,570
4,123
2,999
6,151
4,432
4,760
36
Other precious metals
2,371
8,438
1,912
1,945
2,210
3,554
2,671
2,703
1,912
2,210
2,371
1,945
2,703
3,554
2,671
37
Other nonferrous metals.............................................................
5,233
5,862
5,754
21,468
4,619
5,335
5,898
6,709
4,816
5,330
5,422
5,900
5,550
5,969
6,361
38
Other metals and nonmetallic products...........................................
20,803
4,897
5,330
5,355
5,221
5,994
5,491
5,995
4,972
5,134
5,341
5,356
5,557
5,780
5,926
Capital goods, except automotive...........................................................
39
447,433 105,866 110,700 112,334 118,533 114,896 122,469 120,039 107,480 108,316 114,427 117,210 116,540 120,148 121,952
40
Machinery and equipment, except consumer-type...................................
355,419 85,243 88,226 89,302 92,648 91,698 97,242 96,619 86,188 87,015 90,368 91,848 92,522 96,027 97,540
41
Electric generating machinery, electric apparatus, and parts...............
41,326 10,117 10,300 10,505 10,404 10,309 11,189 10,806 10,170 10,204 10,505 10,447 10,341 11,104 10,755
42
Oil drilling, mining, and construction machinery..................................
7,194
29,429
7,193
7,506
8,630
7,536
7,753
9,161
7,310
6,972
7,560
7,587
8,372
9,217
7,878
43
Industrial engines, pumps, and compressors.......................................
19,148
4,219
4,388
4,583
5,958
5,488
5,511
4,704
4,849
4,316
4,379
5,612
5,749
4,935
5,473
44
Machine tools and metalworking machinery.......................................
1,719
6,715
1,663
1,680
1,653
1,764
1,882
1,936
1,699
1,693
1,654
1,669
1,796
1,877
1,972
45
Measuring, testing, and control instruments........................................
21,818
5,614
5,627
5,467
5,110
5,406
5,475
5,322
5,213
5,652
5,477
5,476
5,320
5,518
5,351
Other industrial, agricultural, and service industry machinery.............
76,017 17,796 19,806 19,298 19,117 20,161 22,073 20,859 17,848 18,801 19,668 19,700 20,208 20,950 21,158
46
47
Computers, peripherals, and parts......................................................
45,546 11,699 10,737 11,167 11,943 10,875 11,237 11,285 11,698 11,230 11,487 11,131 10,808 11,788 11,625
Semiconductors..................................................................................
48
50,444 12,256 12,639 12,428 13,121 12,916 13,065 13,456 12,428 12,389 12,334 13,293 13,077 12,825 13,349
49
Telecommunications equipment..........................................................
7,287
30,310
6,938
7,925
8,160
8,202
8,142
7,229
7,999
7,326
7,900
7,855
8,265
8,287
8,083
50
Other office and business machines...................................................
692
2,786
745
1,017
650
699
1,078
1,160
679
698
739
670
1,149
1,024
1,142
51
Scientific, hospital, and medical equipment and parts.........................
31,881
7,603
7,889
7,866
8,523
8,984
8,588
8,981
7,597
8,126
7,870
8,288
8,548
9,308
8,976
52
Civilian aircraft, engines, and parts.........................................................
87,300 19,622 21,253 21,838 24,587 21,999 23,935 21,935 20,291 20,080 22,865 24,064 22,818 22,829 22,927
53
Civilian aircraft, complete, all types.....................................................
48,821 10,367 11,827 12,327 14,300 11,762 13,244 11,002 10,949 10,779 13,204 13,889 12,545 12,237 11,868
54
Other transportation equipment..............................................................
4,714
1,001
1,221
1,194
1,298
1,292
1,199
1,485
1,001
1,221
1,194
1,298
1,200
1,292
1,485
55
Automotive vehicles, parts, and engines................................................
121,045 27,856 31,738 29,259 32,192 29,522 33,203 30,564 28,398 29,644 31,564 31,439 30,595 31,045 32,968
56
To Canada...............................................................................................
60,095 14,714 16,099 13,651 15,631 13,816 15,481 12,760 14,596 14,581 15,536 15,382 13,942 14,025 14,749
57
Passenger cars, new and used...........................................................
4,167
15,120
3,398
3,218
4,337
3,881
4,561
3,475
3,399
4,056
3,510
4,155
4,063
4,472
3,890
58
Trucks, buses, and special purpose vehicles......................................
3,597
12,568
2,806
2,818
3,347
2,611
3,211
2,630
2,983
3,192
3,057
3,336
2,793
3,046
2,833
59
Engines and engine parts...................................................................
6,927
1,757
1,888
1,564
1,718
1,591
1,655
1,444
1,825
1,693
1,703
1,706
1,540
1,591
1,546
60
Other parts and accessories...............................................................
25,480
6,622
6,578
6,051
6,054
6,229
5,733
5,211
6,389
6,186
6,720
6,185
5,546
5,711
5,685
61
To other areas.......................
60,950 13,142 15,639 15,608 16,561 15,706 17,722 17,804 13,802 15,063 16,028 16,057 16,653 17,020 18,219
62
Passenger cars, new and used
28,622
5,641
7,287
7,256
8,438
7,630
9,153
9,168
6,138
6,898
7,539
8,047
8,363
8,654
9,452
63
Trucks, buses, and special purpose vehicles.......................................
1,054
4,465
1,177
1,384
850
1,014
1,202
1,415
921
1,054
1,246
1,244
1,114
1,194
1,491
64
Engines and engine parts..
6,595
1,509
1,733
1,766
1,587
1,693
1,717
1,755
1,526
1,687
1,786
1,596
1,721
1,668
1,771
65
Other parts and accessories
21,268
5,142
5,565
5,409
5,152
5,650
5,217
5,369
5,466
5,424
5,457
5,170
5,504
5,455
5,505
66
146,102 35,274 36,642 36,124 38,062 39,369 41,803 40,981 35,210 35,860 37,403 37,629 39,232 40,982 42,364
Consumer goods (nonfood), except automotive....................................
67
Nondurable goods.................
63,393 15,809 15,855 16,088 15,641 16,591 17,545 18,348 15,693 15,673 16,275 15,752 16,425 17,401 18,438
68
Apparel, footwear, and household goods............................................
7,264
1,821
1,886
1,769
1,788
1,815
2,088
1,849
1,879
1,786
1,798
1,831
1,836
1,905
2,015
69
Medicinal, dental, and pharmaceutical products.................................
35,165
9,034
9,011
8,826
8,294
8,820
8,471
9,390 10,014 10,297
8,766
9,108
9,137
9,780 10,568
70
Other nondurable goods......................................................................
20,964
4,954
5,376
5,559
5,075
5,386
5,652
5,963
5,024
5,121
5,336
5,483
5,452
5,716
5,855
71
Durable goods.........................................................................................
82,709 19,465 20,787 20,036 22,421 22,778 24,258 22,633 19,517 20,187 21,128 21,877 22,807 23,581 23,926
72
Televisions, video receivers, and other video equipment.....................
3,857
852
882
963
1,160
897
919
928
956
974
901
1,026
1,000
940
931
73
Radio and stereo equipment, including records, tapes, and disks
1,674
7,431
1,733
1,846
2,178
1,918
1,819
1,851
1,801
1,826
1,875
1,929
2,000
2,001
1,935
74
Toys and sporting goods, including bicycles.......................................
10,603
2,245
2,602
2,713
3,043
2,887
3,206
2,780
2,282
2,561
2,855
2,905
2,941
2,924
3,154
75
Household and kitchen appliances and other household goods..........
28,512
7,374
6,963
7,180
6,995
7,345
8,062
8,027
6,982
7,184
7,271
7,075
7,360
7,952
8,228
76
Household furnishings and related products....................................
3,592
804
936
997
855
947
1,080
1,023
835
865
964
928
978
1,037
1,064
77
Household and kitchen appliances.................................................
6,940
1,566
1,751
1,799
1,824
1,674
1,874
1,962
1,719
1,685
1,758
1,778
1,793
1,841
1,904
78
Other household goods...................................................................
17,980
4,260
4,593
4,574
4,553
4,724
5,165
4,985
4,462
4,491
4,498
4,529
4,589
5,074
5,260
79
Gems, jewelry, and collectibles...........................................................
14,717
3,184
3,640
4,017
3,876
4,502
3,812
3,988
3,514
3,652
3,672
3,879
4,342
3,645
4,450
80
Other durable goods............................................................................
17,589
4,032
4,432
4,335
4,790
5,229
6,264
5,235
3,982
4,172
4,514
4,921
5,164
5,889
5,458
Exports, n.e.c.............................................................................................
81
33,276
8,068
7,843
8,066
9,299 10,547 11,868 10,989
8,343
7,793
8,149
8,990 11,045 11,587 11,089
2
3
4
See the footnotes on pages 60-61.
January 2009
41
S u rv ey o f C u rren t B usiness
Table 2. U.S. Trade in Goods—Table Ends
[Millions of dollars]
Not seasonally adjusted
Line
2007
2007
I
II
Seasonally adjusted
2007
2008
III
IV
I
II
III p
I
II
2008
III
IV
I
II
III "
C Trade in goods, by principal end-use category, adjusted to balance of
payments basis, excluding military—Continues:
82 Imports of goods, balance of payments basis, excluding military (A-16)
528,845 553,641 561,246
83
84
112,172 123,619 131,436
416,673 430,022 429,810
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
1,967,853 454,424 487,304 503,513 522,612 507,017 556,515 575,389 473,681 485,375 496,698 512,099
Petroleum and products6........................................................................
330,978 65,247 81,792 87,334 96,605 102,832 129,268 139,030 70,797 78,131 83,019 99,031
Nonpetroleum products........................................................................... 1,636,875 389,177 405,512 416,179 426,007 404,185 427,247 436,359 402,884 407,244 413,679 413,068
Foods, feeds, and beverages...................................................................
81,683 19,915 20,167 19,993 21,608 21,586 22,548 22,218 19,854 20,090 20,809 20,930
Agricultural.....................
62,128 15,455 15,547 14,907 16,219 17,247 17,717 16,819 14,958 15,225 15,860 16,085
1,224
1,411
Coffee, cocoa, and sugar
4,723
1,133
1,191
1,175
1,484
1,426
1,119
1,139
1,226
1,239
Green coffee..........
3,237
777
808
879
773
948
1,037
988
691
810
906
830
Meat products and poultry
1,994
2,024
8,009
2,007
2,099
1,832
2,004
2,022
1,909
1,913
1,785
1,959
Vegetables, fruits, nuts, and preparations...........................................
17,471
5,154
4,914
4,615
3,480
4,222
5,525
4,015
4,242
4,383
4,448
4,398
Wine, beer, and related products........................................................
1,857
8,355
2,121
2,158
2,219
1,854
2,205
2,237
2,081
2,021
2,142
2,111
6,504
Other agricultural foods, feeds, and beverages....................................
23,570
5,226
5,671
6,471
7,355
7,356
5,557
5,678
6,072
6,263
6,169
4,460
4,620
5,086
5,389
4,339
4,831
5,399
4,896
4,865
4,949
4,845
Nonagricultural (fish, distilled beverages, etc.)........................................
19,555
Fish and shellfish.......
13,548
3,155
3,206
3,594
3,593
3,293
3,804
3,412
3,260
3,098
3,458
3,418
Whiskey and other alcoholic beverages..............................................
5,547
1,207
1,674
1,382
1,464
1,296
1,370
1,101
1,386
1,335
1,409
1,339
Industrial supplies and materials
639,352 138,927 162,031 166,610 171,784 182,869 216,714 228,678 145,109 156,875 162,079 175,289
21,352
22,519
22,935
16,631
1,367
862
1,868
4,524
2,071
6,801
17,442
1,437
1,063
1,836
4,694
2,115
7,360
17,728
1,431
992
1,877
5,049
2,187
7,184
4,721
3,368
1,212
5,077
3,497
1,423
5,207
3,604
1,397
192,655 209,640 220,662
102
103
104
105
106
Agricultural.....................
Nonagricultural products.
Energy products.........
Petroleum and products 6
Natural gas.............
Paper and paper base stocks..............................................................
Textile supplies and related materials.................................................
Chemicals, excluding medicinals........................................................
Building materials, except metals........................................................
Other nonmetals..................................................................................
107
108
109
110
111
112
113
114
115
Metals and nonmetallic products.........................................................
Steelmaking materials.....................................................................
Iron and steel products...................................................................
Nonferrous metals...........................................................................
Nonmonetary gold......................................................................
Other precious metals.................................................................
Bauxite and aluminum................................................................
Other nonferrous metals.............................................................
Other metals and nonmetallic products..........................................
116
Capital goods, except automotive...........................................................
117
118
119
120
121
122
123
124
125
126
127
128
Machinery and equipment, except consumer-type..................................
Electric generating machinery, electric apparatus and parts...............
Oil drilling, mining, and construction machinery.................................
Industrial engines, pumps, and compressors......................................
Machine tools and metalworking machinery.......................................
Measuring, testing, and control instruments.......................................
Other industrial, agricultural, and service industry machinery.............
407,079
55,050
19,157
15,738
8,670
14,975
82,937
96,273 100,946 103,810 106,050 100,468 107,288 108,725
12,685 13,765 14,641 13,959 13,468 14,357 15,149
5,162
4,541
4,626
4,926
5,483
6,331
4,828
3,877
4,074
4,105
3,682
4,331
4,713
4,716
2,204
2,195
2,294
2,496
2,477
2,136
2,135
3,752
3,822
3,862
3,774
3,849
3,787
3,539
19,378 20,994 20,950 21,615 21,259 22,339 21,820
Computers, peripherals, and parts......................................................
Semiconductors....................
Telecommunications equipment
Other office and business machines...................................................
Scientific, hospital, and medical equipment and parts.........................
105,159
26,614
44,055
6,378
28,347
25,436
6,666
9,997
1,622
6,507
25,389
6,436
10,681
1,715
6,981
26,646
6,717
11,139
1,664
7,194
27,688
6,795
12,238
1,377
7,665
24,850
6,560
10,602
1,205
7,200
26,635
6,599
11,569
1,373
7,874
26,761
6,671
11,840
1,301
7,872
26,908
6,713
10,565
1,745
6,852
25,960
6,527
10,659
1,673
7,058
25,926
6,622
11,137
1,612
7,130
26,365
6,752
11,694
1,348
7,307
26,059
6,570
11,114
1,288
7,556
27,343
6,711
11,569
1,339
7,951
25,819
6,523
11,759
1,256
7,711
129
130
131
Transportation equipment, except automotive
Civilian aircraft, engines, and parts....
Civilian aircraft, complete, all types
37,409
34,407
13,281
8,875
8,183
3,351
9,363
8,647
3,393
9,534
8,687
3,240
9,637
8,890
3,297
9,847
9,200
3,509
10,306
9,544
3,220
9,234
8,563
2,646
8,935
8,243
3,351
9,347
8,632
3,393
9,597
8,750
3,240
9,530
8,782
3,297
9,901
9,254
3,509
10,282
9,521
3,220
9,221
8,550
2,646
258,920
69,129
36,697
11,329
4,360
16,743
189,791
97,162
11,985
16,410
64,234
63,196
17,926
9,432
3,150
1,135
4,209
64,989
17,805
9,206
2,949
1,132
4,518
47,184
22,995
3,224
4,346
16,619
62,842
15,568
8,107
2,476
1,037
3,948
47,274
23,618
3,306
4,112
16,238
67,893
17,830
9,952
2,754
1,056
4,068
63,154
15,288
8,591
1,619
1,050
4,028
47,866
25,385
2,736
4,096
15,649
63,755
15,040
8,856
1,551
956
3,677
55,562
12,761
7,279
1,696
635
3,151
42,801
21,895
1,925
3,949
15,032
64,190
17,662
9,289
3,210
1,079
4,084
138
139
140
141
142
Automotive vehicles, parts, and engines
From Canada..........................................................................................
Passenger cars, new and used...........................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts...................................................................
Other parts and accessories...............................................................
From other areas.....................................................................................
Passenger cars, new and used...........................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts...................................................................
Other parts and accessories...............................................................
132
133
134
135
136
137
8,825
2,184
2,249
2,047
2,345
2,608
630,527 136,743 159,782 164,563 169,439 180,261
374,473 75,526 92,844 98,548 107,555 113,812
330,978 65,247 81,792 87,334 96,605 102,832
8,157
7,784
32,033
8,626
7,466
8,099
14,086
3,525
3,460
3,465
3,636
3,546
3,127
13,161
3,403
3,298
3,164
3,333
56,220 13,809 14,425 13,717 14,269 16,489
29,947
8,060
7,997
6,814
7,076
5,926
6,834
27,011
6,780
6,954
6,491
6,443
115,629 27,297 30,745 30,378 27,209 30,833
7,295
1,873
2,017
1,957
1,960
1,448
8,671
35,514
9,568
8,102
8,715
9,173
52,924 12,627 14,056 14,037 12,204 15,287
8,826
1,960
2,440
2,673
1,753
4,468
11,083
2,890
2,671
2,716
2,806
3,188
3,497
3,494
2,982
13,443
3,470
3,052
19,572
4,481
5,229
5,064
4,798
4,579
19,896
4,551
5,248
5,151
4,946
4,871
444,488 105,148 110,309 113,344 115,687 110,315
45,270
23,165
2,671
3,858
15,576
50,063
27,384
2,784
4,094
15,801
2,870
2,763
2,729
2,170
2,192
2,378
2,502
2,667
2,085
213,951 225,949 143,024 154,705 159,887 172,911 190,153 206,973 217,792
142,119 151,567 80,531 89,630 94,624 109,688 122,717 136,978 144,367
129,268 139,030 70,797 78,131 83,019 99,031 112,172 123,619 131,436
9,257
7,641
7,995
7,423
7,597
8,998
8,010
7,428
9,682
3,551
3,687
3,544
3,451
3,602
3,528
3,563
3,586
3,573
3,304
3,267
3,275
3,332
3,346
3,244
3,223
3,208
3,180
17,500 17,948 13,358 13,996 14,124 14,742 15,793 17,071 18,811
6,037
6,543
7,611
7,580
7,604
7,152
6,342
6,403
6,158
6,962
7,166
6,634
6,839
6,760
6,814
6,939
6,743
6,795
33,972
2,907
10,296
15,098
3,149
3,417
3,556
4,976
5,671
35,911
3,641
11,734
14,419
3,181
3,041
3,514
4,683
6,117
28,045
1,602
9,098
12,570
1,960
2,693
3,421
4,496
4,775
48,715
25,964
2,655
4,218
15,878
46,528
23,941
2,938
3,892
15,757
143
Consumer goods (nonfood), except automotive...................................
Nondurable goods...................................................................................
Apparel, footwear, and household goods............................................
Medicinal, dental, and pharmaceutical products.................................
Other nondurable goods.....................................................................
478,541 111,787 113,955 124,412 128,387 112,827 118,531 133,310 119,819
214,772 52,657 52,410 56,719 52,986 52,957 53,101 61,176 54,775
117,377 27,838 27,538 33,745 28,256 26,976 26,872 33,313 29,474
71,733 18,986 18,378 16,292 18,077 19,791 19,569 20,951 19,048
6,494
25,662
6,682
6,653
6,190
6,660
6,912
6,253
5,833
148
149
150
151
152
153
154
155
Durable goods.........................................................................................
Televisions, video receivers, and other video equipment.....................
Radio and stereo equipment, including records, tapes, and disks.......
Toys and sporting goods, including bicycles.......................................
Household and kitchen appliances and other household goods..........
Household furnishings and related products....................................
Household and kitchen appliances.................................................
Other household goods...................................................................
263,769
39,789
15,052
38,499
112,049
25,136
19,793
67,120
27,693
1,934
8,322
12,377
1,753
2,634
3,233
4,757
5,060
31,711
2,171
9,160
15,294
4,468
3,219
2,999
4,608
5,086
33,199
2,811
10,030
14,932
3,149
3,437
3,359
4,987
5,426
34,813
3,491
11,127
14,258
3,181
2,989
3,441
4,647
5,937
63,502 66,236 64,992 64,321 62,476 58,195
16,958 17,279 17,230 14,981 14,279 14,150
8,817
9,360
8,395
8,445
8,280
9,231
1,824
2,818
2,639
2,662
1,666
1,478
1,074
1,144
1,063
690
1,001
899
4,249
4,242
4,168
3,457
3,356
3,919
46,544 48,957 47,762 49,340 48,197 44,045
23,235 25,198 24,788 26,323 26,285 23,207
1,834
3,105
2,733
3,085
2,581
3,209
3,959
4,196
4,157
4,165
4,125
4,064
16,008 16,393 16,076 15,807 15,267 15,045
118,971 118,675 121,076 120,348 124,081 125,734
54,130 52,430 53,437 54,989 54,909 56,051
29,310 29,514 29,079 28,469 28,710 28,752
18,463 16,402 17,820 19,913 19,682 20,640
6,357
6,514
6,538
6,607
6,517
6,659
156
Games, jewelry, and collectibles.........................................................
24,748
5,769
5,486
6,126
75,401
13,170
4,433
11,727
29,282
6,347
4,502
18,433
7,367
5,460
5,424
5,159
6,044
5,988
6,397
6,319
5,707
5,903
157
Other durable goods...........................................................................
33,632
7,697
8,263
8,250
9,422
8,343
9,405
9,121
8,151
8,371
8,243
8,867
8,806
9,479
8,910
158
159
160
Imports, n.e.c., and U.S. goods returned................................................
64,869
15,451
15,853
16,312
17,253
16,266
17,373
17,662
15,834
16,480
16,544
16,569
17,590
17,715
U.S. goods returned................................................................................
Other products, including balance of payments adjustments not included
above (minimum value shipments and miscellaneous imports)...........
35,688
8,757
8,512
8,919
9,500
8,871
9,424
9,572
8,860
16,011
8,757
9,129
8,942
8,946
9,732
9,614
29,181
6,694
7,341
7,393
7,753
7,395
7,949
8,090
6,974
7,254
7,351
7,602
7,623
7,858
8,101
See the footnotes on pages 60-61.
59,130
8,114
3,201
8,215
26,134
6,318
4,855
14,961
67,693
10,024
3,899
9,949
29,445
6,174
4,851
18,420
29,845
1,940
8,771
14,089
2,673
2,866
3,477
5,073
5,045
117,594 117,959 108,875 109,926 112,419 113,268 113,600 117,335 116,005
99,940 100,579 102,822 103,738 103,699 107,053 106,784
13,248 13,732 14,135 13,935 14,039 14,318 14,385
4,702
4,878
4,971
6,401
4,659
4,918
5,203
4,284
4,786
3,657
3,779
4,153
4,149
4,595
2,479
2,177
2,088
2,419
2,478
2,230
2,175
3,760
3,788
3,853
3,852
3,720
3,631
3,796
19,733 20,375 21,218 21,611 21,546 21,694 21,945
144
145
146
147
61,545
8,481
3,519
8,608
27,188
6,297
5,585
15,306
30,046
1,819
9,323
13,888
2,440
2,890
3,312
5,246
5,016
59,870
8,551
2,941
8,224
26,351
6,005
4,423
15,923
65,430
10,307
3,047
8,455
28,792
6,145
5,542
17,105
72,134
11,225
3,478
11,350
31,801
5,962
5,054
20,785
65,044
9,670
3,755
9,638
27,786
6,340
4,956
16,490
64,841
9,430
3,725
9,809
27,518
6,097
4,995
16,426
66,245
10,014
3,904
9,327
28,360
6,399
4,955
17,006
67,639
10,675
3,668
9,725
28,385
6,300
4,887
17,198
65,359
10,044
3,417
9,578
27,807
5,971
4,471
17,365
69,172
11,503
3,251
9,651
29,385
5,961
4,961
18,463
69,683
11,085
3,503
10,657
30,225
6,124
5,130
18,971
5,303
42
U.S. International Transactions
January 2009
Table 3. Private Services Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2007
1 Exports of private services..................................................
2
3
4
5
6
Travel (table 1, line 6 ) ..........................................................
Passenger fares (table 1, line 7)..........................................
Other transportation (table 1, line 8).....................................
Freight.............................................................................
Port services...................................................................
7
Royalties and license fees (table 1, line 9 )...........................
By type: 1
Industrial processes 2..................................................
Other3.........................................................................
By affiliation:
U.S. parents’ receipts from their foreign affiliates.........
U.S. affiliates’ receipts from their foreign parent groups
U.S. receipts from unaffiliated foreigners.....................
2007
I
II
479,980
108,560
115,171
96,712
25,586
51,586
19,596
31,990
19,658
5,529
11,873
4,412
7,461
Seasonally adjusted
2008
III
2007
IV
I
IIr
III p
I
128,718
127,532
126,156
133,123
142,924
110,193
116,176
24,387
5,848
12,575
4,895
7,680
29,159
6,868
13,018
4,951
8,067
23,508
7,340
14,120
5,338
8,782
24,152
7,077
14,277
5,370
8,907
29,112
7,732
15,673
5,655
10,018
33,662
8,888
15,939
5,745
10,194
21,818
5,800
12,076
4,520
7,556
II
2008
III
IV
I
II r
III p
125,188
128,423
129,163
134,324
138,633
23,154
5,996
12,639
4,848
7,791
25,241
6,530
13,081
4,964
8,117
26,499
7,259
13,790
5,264
8,526
27,060
7,623
14,632
5,499
9,133
28,053
7,687
15,791
5,598
10,193
29,468
8,462
15,820
5,752
10,068
82,614
18,490
19,683
21,588
22,853
20,916
22,387
23,034
18,991
19,866
21,940
21,817
21,559
22,577
23,310
37,441
45,172
8,611
9,879
8,789
10,894
10,177
11,411
9,864
12,989
9,373
11,543
10,027
12,360
10,305
12,729
8,611
10,380
8,789
11,077
10,177
11,763
9,864
11,953
9,373
12,186
10,027
12,550
10,305
13,005
54,726
4,154
23,733
12,157
1,062
5,271
12,993
918
5,772
14,354
1,123
6,111
15,223
1,052
6,578
13,771
914
6,230
14,502
1,016
6,869
14,800
1,045
7,190
12,506
1,062
5,423
13,080
918
5,868
14,537
1,123
6,280
14,603
1,052
6,162
14,222
914
6,422
14,571
1,016
6,990
14,919
1,045
7,346
Other private services (table 1, line 10)................................
By type:1
Education....................................................................
Financial services........................................................
Insurance services......................................................
Telecommunications....................................................
Business, professional, and technical services............
Other services 4..........................................................
By affiliation:
U.S. parents’ receipts from their foreign affiliates.........
U.S. affiliates’ receipts from their foreign parent groups
U.S. receipts from unaffiliated foreigners.....................
223,483
53,010
52,679
58,084
59,710
59,735
58,219
61,401
51,508
54,521
58,396
59,058
58,289
60,216
61,572
15,732
58,266
10,286
8,283
107,675
23,241
6,453
12,870
2,351
1,967
24,129
5,241
1,923
13,996
2,554
2,079
26,647
5,479
4,386
15,567
2,676
2,128
27,260
6,067
2,970
15,833
2,706
2,109
29,639
6,453
6,865
15,398
2,575
2,179
26,678
6,040
2,038
15,619
2,824
2,377
30,345
5,015
4,681
15,343
2,890
2,517
30,754
5,216
3,848
12,870
2,351
1,967
25,231
5,241
3,897
13,996
2,554
2,079
26,515
5,479
3,962
15,567
2,676
2,128
27,996
6,067
4,025
15,833
2,706
2,109
27,932
6,453
4,090
15,398
2,575
2,179
28,008
6,040
4,146
15,619
2,824
2,377
30,234
5,015
4,223
15,343
2,890
2,517
31,384
5,216
49,238
24,052
150,193
10,843
5,802
36,365
12,453
6,112
34,113
12,515
5,626
39,944
13,428
6,512
39,770
12,532
5,500
41,702
13,076
6,216
38,927
13,078
6,077
42,245
11,226
5,985
34,297
12,232
6,140
36,149
12,804
6,031
39,561
12,976
5,897
40,185
12,984
5,754
39,551
12,734
6,377
41,104
13,343
6,514
41,716
23 Imports of private services...................................................
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
341,126
77,695
87,298
90,532
85,602
84,751
95,249
97,653
82,367
84,292
87,087
87,380
90,059
91,863
94,086
24
25
26
27
28
Travel (table 1, line 23)........................................................
Passenger fares (table 1, line 24).........................................
Other transportation (table 1, line 25)..................................
Freight.............................................................................
Port services...................................................................
76,167
28,486
67,050
45,576
21,474
15,837
6,158
15,570
10,798
4,772
21,390
7,588
16,903
11,626
5,277
21,916
7,841
17,476
11,848
5,628
17,024
6,899
17,101
11,304
5,797
17,410
7,277
17,192
11,061
6,131
23,084
8,721
18,773
11,649
7,123
22,907
8,704
19,276
11,836
7,440
18,538
6,721
16,022
11,059
4,963
18,849
6,979
16,767
11,547
5,220
19,247
7,422
17,119
11,656
5,463
19,533
7,364
17,142
11,314
5,828
20,403
7,928
17,869
11,484
6,385
20,292
8,033
18,563
11,525
7,038
20,168
8,245
18,838
11,632
7,206
29
Royalties and license fees (table 1, line 26).........................
By type: 1
Industrial processes2..................................................
O ther3.........................................................................
By affiliation:
U.S. parents’ payments to their foreign affiliates..........
U.S. affiliates’ payments to their foreign parent groups
U.S. payments to unaffilialed foreigners.......................
25,048
6,386
6,011
6,004
6,646
6,428
6,352
7,503
6,643
6,260
6,155
5,991
6,663
6,626
7,727
18,093
6,955
4,694
1,691
4,405
1,607
4,348
1,656
4,646
2,001
4,676
1,753
4,633
1,719
4,806
2,697
4,887
1,756
4,590
1,669
4,460
1,694
4,156
1,836
4,854
1,809
4,845
1,782
4,979
2,748
2,233
17,420
5,396
553
4,499
1,334
528
4,168
1,315
636
4,017
1,351
515
4,736
1,396
546
4,459
1,423
574
4,338
1,439
595
4,534
2,373
553
4,756
1,334
528
4,416
1,315
636
4,167
1,351
515
4,081
1,396
546
4,693
1,423
574
4,613
1,439
595
4,759
2,373
Other private services (table 1, line 27)................................
By type:1
Education....................................................................
Financial services........................................................
Insurance services......................................................
Telecommunications....................................................
Business, professional, and technical services............
Other services4..........................................................
By affiliation:
U.S. parents’ payments to their foreign affiliates..........
U.S. affiliates’ payments to their foreign parent groups
U.S. payments to unaffiliated foreigners.......................
144,375
33,744
35,406
37,294
37,931
36,444
38,320
39,263
34,444
35,437
37,145
37,350
37,196
38,349
39,108
4,523
18,928
42,761
7,334
68,763
2,065
866
4,430
10,426
1,667
15,895
459
1,156
4,798
10,172
1,912
16,855
514
1,523
4,727
11,113
1,908
17,460
562
978
4,973
11,050
1,847
18,553
530
883
4,847
11,187
1,779
17,133
615
1,180
4,884
10,615
1,870
19,104
667
1,556
4,792
10,731
1,918
19,564
702
1,119
4,430
10,426
1,667
16,342
459
1,135
4,798
10,172
1,912
16,907
514
1,140
4,727
11,113
1,908
17,694
562
1,129
4,973
11,050
1,847
17,820
530
1,145
4,847
11,187
1,779
17,623
615
1,156
4,884
10,615
1,870
19,157
667
1,162
4,792
10,731
1,918
19,802
702
36,545
20,518
87,312
8,273
4,927
20,544
8,804
5,327
21,275
9,302
5,046
22,945
10,166
5,218
22,547
9,100
4,445
22,899
10,885
4,595
22,840
11,039
4,638
23,586
8,720
4,927
20,797
8,856
5,327
21,254
9,536
5,046
22,562
9,434
5,218
22,698
9,591
4,445
23,160
10,938
4,595
22,816
11,277
4,638
23,193
45 Premiums received 5...............................................................
46 Actual losses paid...................................................................
20,951
11,619
4,879
2,706
5,226
2,856
5,532
2,988
5,314
3,069
4,681
3,097
5,280
3,094
5,352
3,074
4,879
2,706
5,226
2,856
5,532
2,988
5,314
3,069
4,681
3,097
5,280
3,094
5,352
3,074
47 Premiums paid 5......................................................................
48 Actual losses recovered..........................................................
74,848
30,430
18,596
7,642
17,704
7,595
19,454
7,577
19,093
7,616
19,094
7,713
17,719
7,844
17,508
7,993
18,596
7,642
17,704
7,595
19,454
7,577
19,093
7,616
19,094
7,713
17,719
7,844
17,508
7,993
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
Supplemental detail on insurance transactions:
Memoranda:
49 Balance on goods (table 1, line 72)......................................... -819,373 -186,708 -202,296 -215,588 -214,780 -191,666 -214,988 -237,251 -203,363 -205,887 -201,204 -208,919 -211,032 -216,328 -214,710
50 Balance on private services (line 1 minus line 25)...................
138,854
30,865
27,873
38,186
37,874
45,271
31,884
41,930
41,405
27,825
39,104
38,101
41,043
42,460
44,546
51 Balance on goods and private services (lines 53 and 54)
-680,519 -155,843 -174,423 -177,402 -172,850 -150,261 -177,115 -191,980 -175,538 -174,004 -163,103 -167,876 -171,928 -173,868 -170,164
See the footnotes on pages 60-61.
January 2009
43
S u r v ey of C u rren t B usiness
Table 4. Investment Income
[Millions of dollars]
Not seasonally adjusted
Line
2007
2007
I
II
Seasonally adjusted
2007
2008
III
IV
I
II r
III p
I
II
2008
III
IV
II '
I
III p
1 Income receipts on U.S.-owned assets abroad (table 1, line 13).....
814,807 184,606 203,160 212,901 214,141 197,238 197,679 194,093 186,013 201,434 212,774 214,587 199,064 195,679 193,910
2
3
4
Direct investment receipts (table 1, line 14)......................................
Earnings........................................................................................
Interest..........................................................................................
368,275
361,869
6,407
5
Other private receipts (table 1, line 15).............................................
444,299 102,063 111,187 117,275 113,774 101,088
93,412
94,759 102,063 111,187 117,275 113,774 101,088
93,412
94,759
6
7
8
Income on foreign securities.........................................................
Dividends..................................................................................
Interest......................................................................................
193,961
114,617
79,344
43,916
25,140
18,776
47,155
27,342
19,813
50,815
30,676
20,139
52,075
31,459
20,616
56,411
35,663
20,748
56,708
35,350
21,358
57,330
36,157
21,173
43,916
25,140
18,776
47,155
27,342
19,813
50,815
30,676
20,139
52,075
31,459
20,616
56,411
35,663
20,748
56,708
35,350
21,358
57,330
36,157
21,173
9
10
11
Interest on claims reported by banks............................................
Banks’ own claims.....................................................................
Banks’ customers’ claims..........................................................
184,055
142,587
41,468
42,990
33,527
9,463
47,043
36,860
10,183
48,338
37,095
11,243
45,684
35,105
10,579
32,939
25,732
7,207
26,391
20,404
5,987
26,067
20,055
6,012
42,990
33,527
9,463
47,043
36,860
10,183
48,338
37,095
11,243
45,684
35,105
10,579
32,939
25,732
7,207
26,391
20,404
5,987
26,067
20,055
6,012
12
Interest on claims reported by nonbanking concerns....................
66,284
15,157
16,989
18,123
16,015
11,738
10,313
11,363
15,157
16,989
18,123
16,015
11,738
10,313
11,363
13
U.S. government receipts (table 1, line 16).......................................
2,233
570
539
521
603
716
726
1,059
559
574
546
554
714
743
1,083
81,973
80,452
1,521
91,434
89,925
1,509
95,105
93,391
1,714
99,764
98,101
1,663
95,434 103,541
93,652 101,814
1,782
1,727
98,275
96,516
1,759
83,391
81,870
1,521
89,673
88,164
1,509
94,953 100,259
93,239 98,596
1,714
1,663
97,262 101,524
95,480 99,796
1,727
1,782
98,068
96,309
1,759
14 Income payments on foreign-owned assets in the United States
(table 1, line 30)...............................................................................
726,031 170,529 191,353 187,602 176,548 162,938 167,200 160,628 171,560 189,991 188,045 176,436 164,055 165,734 161,274
15
16
17
Direct investment payments (table 1, line 3 1)...................................
Earnings.......................................................................................
Interest..........................................................................................
134,414
109,784
24,630
32,097
26,866
5,231
25,536
18,149
7,387
25,884
19,320
6,563
38,122
32,947
5,175
32,123
26,414
5,708
33,128
27,897
5,231
25,424
18,037
7,387
27,001
20,438
6,563
36,656
31,482
5,175
32,769
27,061
5,708
18
Other private payments (table 1, line 32)..........................................
426,515
99,373 107,963 110,898 108,281
94,302
86,115
86,987
99,373 107,963 110,898 108,281
94,302
86,115
86,987
19
20
21
Income on U.S. corporate securities.............................................
Dividends..................................................................................
Interest......................................................................................
193,880
54,344
139,536
44,375
12,622
31,753
48,383
13,003
35,380
49,845
13,913
35,932
51,276
14,806
36,471
52,791
15,874
36,917
53,619
15,572
38,046
55,643
16,152
39,491
44,375
12,622
31,753
48,383
13,003
35,380
49,845
13,913
35,932
51,276
14,806
36,471
52,791
15,874
36,917
53,619
15,572
38,046
55,643
16,152
39,491
22
23
24
Interest on liabilities reported by banks.........................................
Banks’ own liabilities.................................................................
Banks’ customers’ liabilities......................................................
189,884
147,141
42,743
45,766
35,693
10,072
48,854
38,297
10,556
49,212
38,007
11,205
46,053
35,144
10,909
32,927
25,084
7,843
24,479
18,226
6,253
23,561
17,197
6,365
45,766
35,693
10,072
48,854
38,297
10,556
49,212
38,007
11,205
46,053
35,144
10,909
32,927
25,084
7,843
24,479
18,226
6,253
23,561
17,197
6,365
41,982
36,220
5,762
34,800
28,549
6,250
40,620
34,858
5,762
35,243
28,992
6,250
25
Interest on liabilities reported by nonbanking concerns.................
42,751
9,232
10,727
11,840
10,952
8,584
8,017
7,782
9,232
10,727
11,840
10,952
8,584
8,017
7,782
26
U.S. government payments (table 1, line 33)....................................
165,102
39,059
41,408
41,904
42,731
42,752
42,963
41,518
39,059
41,408
41,904
42,731
42,752
42,963
41,518
Memorandum:
27 Balance on investment income (line 1 minus line 14)............................
88,776
14,077
11,807
25,299
37,593
34,300
30,479
33,465
14,453
11,443
24,729
38,151
35,009
29,945
32,636
See the footnotes on pages 60-61.
44
U.S. International Transactions
January 2009
Table 5. U.S. Official Reserve Assets and Foreign Official Assets in the United States
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets or increase in foreign assets.
Debits increase in U.S. assets or decrease in foreign assets.)
2007
2007
I
II
A1 U.S. official reserve assets, net (table 1, line 41)............................................................
2
Gold (table 1, line 42)...................................................................................................
3
Special drawing rights (table 1, line 43).......................................................................
4
Reserve position in the International Monetary Fund (table 1, line 44).........................
Foreign currencies (table 1, line 45).............................................................................
-122
0
-154
1,021
-989
-72
0
-43
212
-241
26
0
-39
294
-229
B1 Foreign official assets in the United States, net (table 1, line 56).................................
By instrument:
2
U.S. Treasury securities (table 1, line 58).....................................................................
3
Bills and certificates.................................................................................................
4
Bonds and notes, marketable..................................................................................
5
Bonds and notes, nonmarketable............................................................................
6
Other U.S. government securities (table 1, line 5 9).....................................................
7
Other U.S. government liabilities (table 1, line 60).......................................................
8
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, line 61)..........
9
Banks’ liabilities for own account1...........................................................................
10
Repurchase agreements......................................................................................
11
Deposits and brokerage balances 2.....................................................................
VI
Other liabilities.....................................................................................................
13
Banks’ customers’ liabilities 1...................................................................................
14
Negotiable certificates of deposit and other short-term instruments....................
15
Other liabilities.....................................................................................................
16
Other foreign official assets (table 1, line 62)...............................................................
411,058
163,270
58,865
19,648
39,133
84
171,465
5,342
108,695
32,556
40,668
-6,411
-1,701
76,139
75,240
899
66,691
40,337
22,275
18,042
20
81,303
366
30,329
30,331
34,569
1,432
-5,670
-2
80
-82
10,935
73,375
721
80,352
278,384
6,976
-28,750
18,394
626
22,823
111,395
1,735
8,297
fa
1/
18
19
20
21
22
By area:
Europe........................................................................................................................
Canada........................................................................................................................
Latin America and Caribbean
Asia................................
Africa..............................
Other..............................
See the footnotes on pages 60-61.
2008
III
IV
I
II '
III p
Amounts
outstanding
Sept. 30,
2008
-54
0
-37
230
-247
-22
0
-35
285
-272
-276
0
-29
112
-359
-1,267
0
-22
-955
-290
-179
0
-30
256
-405
291,785
231,296
9,418
4,750
46,321
88,822
13,469
145,497
173,533
145,391
117,663
3,712,381
1,610
-38,152
39,741
21
60,031
-69
15,956
15,367
7,813
4,955
2,599
589
-131
720
11,294
-25,810
17,352
-43,183
21
18,022
913
9,873
-27,354
-21,118
-4,927
-1,309
37,227
36,823
404
10,471
42,728
18,173
24,533
22
12,109
4,132
52,537
14,212
19,404
-7,871
2,679
38,325
38,468
-143
33,991
88,649
6,223
82,404
22
79,234
1,645
-26,930
-20,974
-18,277
-3,201
504
-5,956
-13,583
7,627
30,935
58,143
24,817
33,303
23
93,145
2,439
-30,055
-6,738
4,037
-4,830
-5,945
-23,317
-17,857
-5,460
21,719
116,479
49,328
67,128
23
-8,361
1,714
9,617
19,666
3,618
9,842
6,206
-10,049
-6,881
-3,168
-1,786
1,979,094
276,848
1,701,067
1,179
964,068
29,822
358,730
216,040
148,256
56,521
11,263
142,690
142,690
(*)
380,667
-7,127
304
33,079
50,498
4,168
7,900
15,707
-1,056
15,640
10,678
-593
-26,907
46,401
847
8,810
105,813
1,666
-18,040
42,919
-17
8,730
115,426
1,645
4,830
22,790
202
23,053
95,754
3,688
-96
362
-178
-14,244
132,371
2,500
-3,148
653,709
11,544
294,165
2,696,215
35,321
21,427
January 2009
45
S u rv ey o f C u rren t B usiness
Table 6. Selected U.S. Government Transactions
[Millions of dollars]
Not seasonally adjusted
2007
Line
2007
II
I
A1 U.S. government grants and transactions increasing Government assets, total...............................................................
2008
IV
III
I
III p
II'
59,724
11,213
6,945
7,324
34,242
7,221
33,348
33,237
5,980
27,257
10,567
10,567
3,640
6,927
5,662
5,611
509
5,102
7,167
7,109
705
6,404
9,952
9,950
1,126
8,824
9,999
9,990
3,803
6,187
49,412 233,708
By category
Grants, net.............................................................................................................................................................................
U.S. government current grants, net (table 1, line 36, with sign reversed)..........................................................................
Financing military purchases 1..................................................................
Other grants.............................................................................................
110
0
51
57
2
10
18
0
8
9
10
11
12
Credits and other long-term assets (table 1, line 47, with sign reversed)...............................................................................
Capital subscriptions and contributions to international financial institutions, excluding IMF.............................................
Credits repayable in U.S. dollars........................................................................................................................................
Credits repayable in other than U.S. dollars.......................................................................................................................
Other long-term assets......................................................................................................................................................
2,475
1,651
818
5
0
608
284
319
5
0
1,405
1,184
221
0
0
182
90
92
0
0
279
93
186
0
0
179
103
76
0
0
1,106
1,067
38
0
0
338
129
209
0
0
13
14
23,902
5
38
5
-122
0
-25
0
24,011
0
-2,957
0
0
0
5
0
0
0
0
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20
21
22
Foreign currency holdings and short-term assets, net (table 1, line 49 with sign reversed)...................................................
Foreign currency holdings (excluding administrative cash holdings), net...........................................................................
Receipts from:
Sales of agricultural commodities..............................................................................................................................
Interest.......................................................................................................................................................................
Repayments of principal............................................................................................................................................
Reverse grants...........................................................................................................................................................
Other sources............................................................................................................................................................
Less currencies disbursed for:
Grants and credits in the recipient’s currency.............................................................................................................
Other grants and credits............................................................................................................................................
Other U.S. government expenditures.........................................................................................................................
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
23
24
25
26
Assets acquired in performance of U.S. government guarantee and insurance obligations, net.........................................
Other assets held under Commodity Credit Corporation Charter Act, net..........................................................................
Assets financing military sales contracts, n e t2..................................................................................................................
Other short-term assets (including changes in administrative cash holdings), n e t9..........................................................
-147
0
0
24,044
4
0
0
29
-106
0
0
-16
-44
0
0
20
0
0
0
24,011
3
0
0
-2,959
12
34
0
0
0
0
40,949 226,241
27
28
29
30
31
32
33
34
35
Capital subscriptions and contributions to international financial institutions, excluding IMF.................................................
Under Agricultural Trade Development and Assistance Act and related programs.................................................................
Under Foreign Assistance Act and related programs................
Under Export-lmport Bank Act..................................................
Under Commodity Credit Corporation Charter Act....................
Under other grant and credit programs.....................................
Other foreign currency assets acquired (lines A16, A17, and A19)
Less foreign currencies used by U.S. government other than for grants or credits (line A22)................................................
Other (including changes in administrative cash holdings), n e t9...........................................................................................
1,651
1,802
30,474
66
147
1,536
5
0
24,044
284
464
9,981
18
98
334
5
0
29
1,184
456
4,990
42
-3
293
0
0
-16
90
445
6,207
3
0
560
0
0
20
93
437
9,296
3
52
350
0
0
24,011
103
413
9,305
6
4
352
0
0
-2,959
1,067
129
438
398
6,317
6,522
57
14
4
0
521
461
0
0
0
0
40,949 226,241
36
37
38
39
40
41
42
43
44
45
Estimated transactions involving no direct dollar outflow from the United States...................................................................
Expenditures on U.S. goods..............................................................................................................................................
Expenditures on U.S. services4........................................................................................................................................
Financing of military sales contracts by U.S. government5 (line C6)
By long-term credits..........................................................
By short-term credits 1......................................................
By grants 1........................................................................
U.S. government grants and credits to repay prior U.S. government credits 14.................................................................
U.S. government long- and short-term credits to repay prior U.S. private credits 6 and other assets..................................
Increase in liabilities associated with U.S. government grants and transactions increasing government assets (including
changes in retained accounts)7 (line C11).....................................................................................................................
Less receipts on short-term U.S. government assets (a) financing military sales contracts 1(b) financing repayment of
private credits and other assets, and (c) financing expenditures on U.S. goods............................................................
Less foreign currencies used by U.S. government other than for grants or credits (line A22)............................................
Estimated dollar payments to foreign countries and international financial institutions 9
21,264
7,723
10,816
2,539
207
0
2,332
294
-95
7,645
4,143
2,791
615
51
0
564
91
10
3,672
1,010
2,055
565
61
0
504
133
7
4,150
948
2,442
721
21
0
700
65
-119
5,797
1,621
3,528
638
73
0
564
5
7
7,339
4,163
2,470
672
0
0
672
31
16
4,260
903
2,564
730
0
0
730
23
52
4,424
1,045
2,435
894
22
0
872
26
27
0
0
0
0
0
0
0
0
12
0
38,461
5
0
3,567
98
0
3,274
-92
0
3,175
1
0
28,445
12
0
-118
B1 Repayments on U.S. government long-term assets, total (table 1, line 48)....
2
Receipts of principal on U.S. government credits............................................
3
Under Agricultural Trade Development and Assistance Act and related programs
4
Under Foreign Assistance Act and related programs...................................
5
Under Export-lmport Bank Act.....................................................................
Under Commodity Credit Corporation Charter Act......................................
6
7
Under other credit programs........................................................................
8
Receipts on other long-term assets.......................................................................................................................................
4,104
4,104
941
1,517
1,218
428
0
(*)
5,342
5,358
1,091
1,091
136
548
278
129
0
0
687
687
40
326
292
30
0
0
780
780
127
294
350
8
0
0
487
487
60
232
182
13
0
0
497
497
57
168
269
3
0
0
597
597
68
266
250
13
0
0
366
383
-69
-88
913
933
1,546
1,546
638
348
298
262
0
(*)
4,132
4,129
1,645
1,649
2,439
2,438
1,714
1,714
19,904
535
497
2,539
207
0
2,332
5,197
303
497
615
51
0
564
3,434
88
0
565
61
0
504
4,153
59
0
721
21
0
700
7,119
86
0
638
73
0
564
7,267
36
1,883
672
0
0
672
3,483
4
-1,784
730
0
0
730
4,448
58
0
894
22
0
872
16,052
4,629
4,000
3,882
3,541
4,371
3,554
3,570
0
3
0
-4
0
1
0
0
(*)
2
(*)
-4
0
1
0
0
15
16
17
18
19
Debt forgiveness (table 1, part of line 39, with sign reversed)......................
7,323
7,305
732
6,574
7,117
7,117
877
6,241
2
3
4
5
6
7
40,983 226,253
0
0
By program
By disposition 3
46
4/
48
C1 U.S. government liabilities other than securities, total, net increase (+) (table 1, line 60).................................................
2
Associated with military sales contracts2..............................................................................................................................
3
U.S. government cash receipts from foreign governments (including principal repayments on credits financing military
sales contracts), net of refunds 1...................................................................................................................................
4
Less U.S. government receipts from principal repayments.................................................................................................
b
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United States............
Plus financing of military sales contracts by U.S. government5 (line A39).........................................................................
6
1
By long-term credits.....................................................................
8
By short-term credits 1.................................................................
9
By grants 1.....................................................................................................................................................................
10
Less transfers of goods and services (including transfers financed by grants for military purchases, and by credits)12
(table 1, line 5 )...............................................................................................................................................................
11
Associated with U.S. government grants and transactions increasing government assets (including changes in retained
accounts)7 (line A45)........................................................................................................................................................
12
Associated with other liabilities..............................................................................................................................................
13
Sales of nuclear material by Department of Energy/U.S. Enrichment Corporation 8..........................................................
14
Sales of space launch and other services by National Aeronautics and Space Administration.........................................
15
Other sales and miscellaneous operations........................................................................................................................
See the footnotes on pages 60-61.
0
-16
0
-17
0
19
0
-21
(*)
-16
0
-17
0
19
0
-21
11
3
0
0
45,152 229,284
46
U.S. International Transactions
January 2009
Table 7. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services—Continues
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
2007
2007
I
II
Seasonally adjusted
2007
2008
III
IV
I
II 1
I II "
I
II
2008
III
IV
I
II r
III p
U.S. direct investment abroad:
1 Income (table 1, line 14)............................................................
2
Earnings..................................................................................
3
Distributed earnings............................................................
4
Reinvested earnings............................................................
5
Reinvested earnings without current-cost adjustment......
6
Current-cost adjustment..................................................
368,275
361,869
98,558
263,311
243,827
19,484
81,973
80,452
15,083
65,369
60,493
4,876
91,434
89,925
22,007
67,918
63,042
4,876
95,105
93,391
17,376
76,015
71,144
4,871
99,764
98,101
44,093
54,009
49,148
4,861
95,434 103,541
93,652 101,814
25,925
30,595
67,728
71,219
62,905
66,408
4,823
4,811
98,275
96,516
24,384
72,132
67,328
4,804
83,391
81,870
23,149
58,721
53,845
4,876
89,673
88,164
22,853
65,311
60,435
4,876
94,953
93,239
26,196
67,043
62,172
4,871
100,259
98,596
26,360
72,236
67,375
4,861
Interest....................................................................................
U.S. parents’ receipts..........................................................
U.S. parents’ payments.......................................................
6,407
10,882
-4,475
1,521
2,598
-1,077
1,509
2,686
-1,177
1,714
2,803
-1,089
1,663
2,795
-1,133
1,782
2,857
-1,075
1,727
2,780
-1,053
1,759
2,784
-1,025
1,521
2,598
-1,077
1,509
2,686
-1,177
1,714
2,803
-1,089
10 Income without current-cost adjustment.......................................
11
Manufacturing......................................................................
12
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
13
14
Holding companies, except bank holding companies...........
Other...................................................................................
15
348,791
65,127
30,238
40,557
136,875
75,994
77,097
13,907
6,328
8,960
31,525
16,376
86,558
17,004
7,554
10,337
33,348
18,315
90,234
16,956
7,595
11,237
35,392
19,054
94,903
17,260
8,761
10,023
36,610
22,248
90,611
17,199
7,120
10,885
34,640
20,767
98,730
18,784
8,232
11,996
37,969
21,749
93,471
18,056
7,881
9,997
36,146
21,391
78,515
14,727
7,014
8,873
31,525
16,376
84,797
15,925
7,362
9,846
33,348
18,315
16
17
18
19
20
21
Earnings without current-cost adjustment (line 2 less line 6)....
Manufacturing......................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
Holding companies, except bank holding companies...........
Other...................................................................................
342,385
64,015
29,863
40,802
134,879
72,826
75,576
13,589
6,252
9,055
31,042
15,638
85,049
16,701
7,471
10,436
32,884
17,557
88,520
16,704
7,492
11,287
34,824
18,213
93,240
17,021
8,648
10,024
36,129
21,418
88,829
16,944
7,020
10,837
34,118
19,910
97,003
18,530
8,180
11,993
37,483
20,817
91,712
17,796
7,823
9,956
35,638
20,499
76,994
14,410
6,937
8,967
31,042
15,638
22
23
24
25
26
2/
Interest....................................................................................
Manufacturing......................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance 1
Holding companies, except bank holding companies...........
Other...................................................................................
6,407
1,112
376
-244
1,995
3,168
1,521
317
77
-94
483
738
1,509
303
82
-99
464
758
1,714
252
103
-50
568
841
1,663
239
114
-1
480
831
1,782
255
100
49
523
857
1,727
254
53
3
486
932
1,759
260
58
41
508
892
28 Capital (table 1, line 5 1 )............................................................ -333,271
29
Equity capital........................................................................... -87,969
30
Increases in equity capital................................................... -152,297
31
Decreases in equity capital..................................................
64,328
32
Reinvested earnings (line 4 with sign reversed)....................... -263,311
33
Intercompany debt...................................................................
18,008
34
-11,635
U.S. parents' receivables.....................................................
35
29,643
U.S. parents’ payables.........................................................
-73,354
-17,777
-25,568
7,791
-65,369
9,792
1,109
8,683
-96,224
-44,019
-59,358
15,339
-67,918
15,713
7,649
8,064
-71,015
2,718
-20,706
23,424
-76,015
2,282
-10,878
13,160
-92,678 -100,548 -88,551
-8,633
-28,890 -22,011
-46,664 -28,628 -17,860
6,617
17,774
9,227
-54,009 -67,728 -71,219
-9,779 -10,809
-8,700
-9,515 -16,360 -12,371
-264
5,552
3,671
-70,073
-12,429
-23,891
11,462
-72,132
14,488
12,586
1,903
36 Capital without current-cost adjustment....................................... -313,787 -68,478
37
Manufacturing...................................................................... -55,249
-8,708
38
Wholesale trade.................................................................. -26,385 -11,103
39
Finance (including depository institutions) and insurance.... -53,079 -11,631
40
Holding companies, except bank holding companies........... -115,260 -16,459
41
Other................................................................................... -63,814 -20,576
-91,348
-26,660
-3,492
-18,019
-36,715
-6,463
-66,144
-13,541
-6,470
-13,402
-17,890
-14,841
-87,817
-6,341
-5,319
-10,027
-44,196
-21,934
7
8
9
98,068
96,309
37,379
58,930
54,126
4,804
1,663
2,795
-1,133
1,782
2,857
-1,075
1,727
2,780
-1,053
1,759
2,784
-1,025
90,082
16,988
7,947
10,701
35,392
19,054
95,398
17,487
7,915
11,137
36,610
22,248
92,439
18,238
7,883
10,912
34,640
20,767
96,713
17,589
7,992
11,414
37,969
21,749
93,264
18,037
8,233
9,457
36,146
21,391
83,288
15,622
7,280
9,945
32,884
17,557
88,368
16,735
7,844
10,751
34,824
18,213
93,735
17,249
7,801
11,138
36,129
21,418
90,657
17,983
7,783
10,863
34,118
19,910
94,985
17,335
7,940
11,411
37,483
20,817
91,505
17,777
8,175
9,416
35,638
20,499
1,521
317
77
-94
483
738
1,509
303
82
-99
464
758
1,714
252
103
-50
568
841
1,663
239
114
-1
480
831
1,782
255
100
49
523
857
1,727
254
53
3
486
932
1,759
260
58
41
508
892
-66,706
-17,777
-25,568
7,791
-58,721
9,792
1,109
8,683
-93,616
-44,019
-59,358
15,339
-65,311
15,713
7,649
8,064
-62,043 -110,905 -89,100 -84,049 -56,871
2,718 -28,890 -22,011
-8,633 -12,429
-20,706 -46,664 -28,628 -17,860 -23,891
23,424
17,774
6,617
9,227 11,462
-67,043 -72,236 -56,280 -66,717 -58,930
2,282
-9,779 -10,809 -8,700
14,488
-10,878
-9,515 -16,360 -12,371
12,586
-264
5,552
3,671
13,160
1,903
-95,725
-17,086
-11,292
-21,952
-24,733
-20,662
-83,740 -65,269 -61,830
-9,711
-8,347
-18,433
-8,877 -11,332
-7,061
-7,038
-565 -10,542
-33,123 -31,806 -13,358
-18,086 -14,309 -18,251
-88,740
-24,938
-2,897
-16,711
-35,963
-8,231
-57,172 -106,044 -84,277 -79,238 -52,067
-12,961
-9,003 -17,010 -16,466 -9,091
-6,322
-5,835 -11,671
-6,575 -8,619
-12,049 -13,777 -20,821
-3,978
1,196
-13,298 -52,641 -17,061 -32,968 -24,371
-12,543 -24,789 -17,712 -19,251 -11,182
-8,633 -12,429 -17,777
-2,496
-1,105
-4,871
334
-16
-58
128
2,357 -7,388
-2,002
-3,431
-9,469
-3,167
-4,196
-3,459
-44,019
-14,252
-2,101
-16,968
-17,134
6,435
2,718
-1,540
-1,250
-7,225
11,130
1,603
-67,328 -53,845 -60,435
-13,188 -10,900 -12,162
-6,326
-5,351
-4,699
-5,365
-5,149
-3,899
-26,350 -23,965 -24,344
-16,316
-9,730 -13,865
-62,172
-12,433
-5,717
-6,422
-25,190
-12,409
42
43
44
45
46
47
Equity capital...........................................................................
Manufacturing......................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
Holding companies, except bank holding companies...........
Other...................................................................................
2,718 -28,890
6,582
-1,540
-1,250
-355
-7,225
-2,246
11,130 -28,353
1,603 -4,519
-22,011
-1,529
-742
-10,395
-2,386
-6,960
48
49
50
51
52
53
Reinvested earnings without current-cost adjustment (line 5
with sign reversed).............................................................. -243,827 -60,493 -63,042 -71,144 -49,148
-48,515 -11,261 -13,883 -13,013 -10,358
Manufacturing......................................................................
-5,123
-5,295
-5,866
-5,885
Wholesale trade..................................................................
-22,168
-4,987
-3,094
Finance (including depository institutions) and insurance.... -22,531
-6,673 -7,776
Holding companies, except bank holding companies........... -98,232 -27,066 -25,095 -29,782 -16,289
Other................................................................................... -52,380 -12,055 -12,097 -14,707 -13,522
-62,905
-14,615
-6,263
-6,290
-22,986
-12,750
-66,408
-14,828
-7,242
-1,177
-26,596
-16,565
54
55
56
57
58
59
Intercompany debt...................................................................
Manufacturing......................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance 2
Holding companies, except bank holding companies...........
Other...................................................................................
18,008
7,347
-454
3,278
19,331
-11,494
9,792
7,424
-5,923
744
12,610
-5,063
15,713
1,475
3,903
5,622
5,514
-801
2,282
1,012
646
1,598
762
-1,737
-9,779
-2,564
920
-4,687
445
-3,893
-10,809
-942
-4,287
-5,266
639
-953
-8,700
-1,108
-152
-5,988
-3,096
1,645
14,488
4,581
-2,536
2,226
4,013
6,204
9,792
7,424
-5,923
744
12,610
-5,063
15,713
1,475
3,903
5,622
5,514
-801
2,282
1,012
646
1,598
762
-1,737
-9,779 -10,809
-2,564
-942
920 -4,287
-4,687 -5,266
639
445
-3,893
-953
-8,700
-1,108
-152
-5,988
-3,096
1,645
14,488
4,581
-2,536
2,226
4,013
6,204
60 Royalties and license fees, n et................................................
61
U.S. parents’ receipts (table 1, part of line 9 )...........................
62
U.S. parents’ payments (table 1, part of line 26)......................
52,494
54,726
-2,233
11,603
12,157
-553
12,465
12,993
-528
13,717
14,354
-636
14,708
15,223
-515
13,225
13,771
-546
13,928
14,502
-574
14,204
14,800
-595
11,953
12,506
-553
12,552
13,080
-528
13,901
14,537
-636
14,088
14,603
-515
13,676
14,222
-546
13,997
14,571
-574
14,324
14,919
-595
63 Other private services, net.......................................................
64
U.S. parents’ receipts (table 1, part of line 10).........................
65
U.S. parents’ payments (table 1, part of line 27)......................
12,693
49,238
-36,545
2,569
10,843
-8,273
3,649
12,453
-8,804
3,212
3,262
13,428
12,515
-9,302 -10,166
3,432
2,191
2,040
12,532
13,076
13,078
-9,100 -10,885 -11,039
2,506
11,226
-8,720
3,376
12,232
-8,856
3,268
12,804
-9,536
3,543
12,976
-9,434
3,393
1,796
2,066
12,984 12,734 13,343
-9,591 -10,938 -11,277
See the footnotes on pages 60-61.
-67,969 -17,777 -44,019
-14,081
-4,871 -14,252
-3,763
-58
-2,101
-33,827
-7,388 -16,968
-2,002 -17,134
-36,358
6,435
60 -3,459
97,262 101,524
95,480 99,796
33,079
39,201
56,280 66,717
51,457 61,906
4,823
4,811
-28,890 -22,011
6,582 -1,529
-742
-355
-2,246 -10,395
-28,353 -2,386
-4,519 -6,960
-8,633 -12,429
-2,496 -1,105
334
-16
128
2,357
-3,431
-9,469
-3,167 -4,196
-67,375 -51,457 -61,906 -54,126
-13,020 -14,540 -12,862 -12,567
-6,400 -6,643 -6,756 -6,068
-6,845 -5,160
1,883 -3,387
-24,733 -15,314 -26,441 -18,915
-16,377 -9,800 -17,729 -13,189
Ja n u a ry 2 0 0 9
S u r v ey o f C u rren t B usiness
47
Table 7. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services—Table Ends
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
2007
2007
I
II
Seasonally adjusted
III
IV
I
II'
2008
2007
2008
I II »
I
II
III
IV
I
II'
III p
Foreign direct investment in the United States:
-134,414
-109,784
-41,256
-68,528
-63,825
-4,703
-32,097
-26,866
-7,819
-19,047
-17,841
-1,206
Interest....................................................................................
U.S. affiliates’ payments......................................................
U.S. affiliates’ receipts.........................................................
-24,630
-31,033
6,403
-5,231
-6,348
1,117
75 Income without current-cost adjustment......................................
Manufacturing.....................................................................
76
77
Wholesale trade..................................................................
78
Finance (including depository institutions) and insurance....
Other...................................................................................
79
-129,711
-60,890
-23,773
-6,411
-38,638
66 Income (table 1, line 31)............................................................
67
Earnings..................................................................................
68
Distributed earnings............................................................
Reinvested earnings...........................................................
69
70
Reinvested earnings without current-cost adjustment.....
71
Current-cost adjustment..................................................
72
73
74
80
81
82
83
84
Earnings without current-cost adjustment (line 67 less line 71)
Manufacturing.....................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
Other...................................................................................
85
86
87
88
89
Interest....................................................................................
Manufacturing.....................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance 1
Other...................................................................................
90 Capital (table 1, line 64)............................................................
91
Equity capital...........................................................................
92
Increases in equity capital...................................................
93
Decreases in equity capital.................................................
94
Reinvested earnings (line 69 with sign reversed).....................
Intercompany debt..................................................................
95
U.S. affiliates’ payables.......................................................
96
97
U.S. affiliates’ receivables...................................................
98 Capital without current-cost adjustment......................................
Manufacturing.....................................................................
99
100
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
101
102
Other...................................................................................
-41,982 -34,800 -25,536 -25,884 -38,122
-36,220 -28,549 -18,149 -19,320 -32,947
-6,591
-7,932 -18,914 -11,047
-8,230
-29,628 -20,618
764 -8,274 -24,717
-28,442 -19,451
1,908 -7,176 -23,637
-1,186
-1,167
-1,144
-1,098
-1,080
-5,762
-7,371
1,609
-7,387
-9,377
1,990
-6,563
-8,526
1,963
-5,175
-6,983
1,809
-5,708
-7,543
1,835
-5,231
-6,348
1,117
-5,762
-7,371
1,609
-35,243 -25,424 -27,001 -36,656
-28,992 -18,037 -20,438 -31,482
-9,676
-9,115 -15,562 -12,545
-19,877
-7,892 -21,806
-2,476
-18,710
-1,332
-6,794 -20,726
-1,167
-1,144
-1,080
-1,098
-32,769
-27,061
-6,971
-20,090
-19,023
-1,067
-5,175
-6,983
1,809
-5,708
-7,543
1,835
-6,250
-7,937
1,686
-30,891 -40,796 -33,633 -24,392 -24,786 -37,042 -31,056 -31,922 -39,434 -34,076
-8,867 -13,559 -12,125 -13,877 -15,666 -13,153
-12,846 -17,028 -12,710 -18,305
-4,571
-6,069
-5,557
-7,776
-5,868
-5,557
-7,776
-5,868
-6,043 -5,046
-4,960
-4,746
-796
-3,094
-4,010
-4,746
-4,010
-4,960
7,305
-8,323
-8,478 -11,245 -10,094
-8,821
-9,079 -10,114
-9,768
-8,478 -11,245 -10,094
-105,081 -25,660 -35,034
-49,069 -10,115 -14,264
-7,494
-22,686 -5,353
-4,290
-4,475
-3,448
-8,986
-28,851
-6,744
-24,630
-11,821
-1,087
-1,936
-9,787
-6,250
-7,937
1,686
-32,123 -33,128 -40,620
-26,414 -27,897 -34,858
-6,069
-8,742
-7,837
-20,346 -19,155 -27,021
-19,279 -17,949 -25,835
-1,067
-1,206 -1,186
-5,231
-2,731
-204
-561
-1,734
-5,762
-2,764
-282
-457
-2,259
-7,387
-9,377
1,990
-6,563
-8,526
1,963
-24,280 -25,903 -35,576 -31,702
-18,193
-9,985 -12,094 -12,771
-4,571
-5,046
-6,069
-6,043
-3,094
7,305
-8,323
-796
-9,768
-8,821
-9,079 -10,114
-27,382 -17,005 -18,222 -31,867 -25,347 -26,691 -33,672 -27,825 -16,893 -19,340
-7,360
-6,242 -11,386
-9,782 -14,909
-9,810 -11,146 -12,902 -10,225 -14,797
-4,291
-4,857
-5,353
-7,494
-5,548
-4,291
-5,811
-5,548
-5,811
-5,713
-7,827 -2,616
-3,448
-4,290
-4,455
7,718
-253
-4,455
7,718
-253
-6,744
-7,598
-5,524
-5,524
-5,916
-7,797
-8,986
-5,916
-7,598
-7,208
-6,250
-2,929
-321
-505
-2,496
-7,387
-3,397
-280
-413
-3,297
237,542
64,470 106,648
13,917
52,506
147,432
36,662
69,018
24,144
17,608
213,206
30,518
46,728
72,585
63,376
-65,774 -12,910 -10,066
-3,567 -39,231
19,047
29,628
20,618
-764
68,528
-1,821
21,581 -22,738
17,013 29,126
79,418
21,337 -1,377
23,330
36,128
-444
-57,837 -44,075
-6,317 -7,002
-6,563
-2,625
-233
-544
-3,162
-5,175
-2,173
-190
-496
-2,316
-5,708
-2,314
-356
-479
-2,560
-5,231
-2,731
-204
-561
-1,734
-5,762
-2,764
-282
-457
-2,259
-6,250
-2,929
-321
-505
-2,496
-7,387
-3,397
-280
-413
-3,297
-30,402 -25,994
-9,921 -10,457
-4,857
-5,713
-7,827 -2,616
-7,797
-7,208
-5,175
-2,173
-190
-496
-2,316
-5,708
-2,314
-356
-479
-2,560
80,437 105,304
42,408
45,689
49,799
54,316
-7,391
-8,628
7,892
21,806
41,090
26,856
23,537
51,563
3,319 -10,473
66,117
44,897
52,479
-7,582
20,090
1,130
1,234
-104
-6,563
-2,625
-233
-544
-3,162
80,819 108,215
45,689
42,408
54,316
49,799
-8,628 -7,391
8,274 24,717
26,856
41,090
23,537
51,563
3,319 -10,473
55,746
14,026 61,862 105,908
66,373
69,018
24,144
44,897
17,608 36,662
52,479
30,518 46,728
72,585
63,376
-7,582 -12,910 -10,066 -3,567 -39,231
19,877
2,476
20,346
19,155 27,021
-1,821
17,013
29,126
1,130 -22,738
21,337
1,234
-1,377
23,330
36,128
-444
-6,317
-7,002
-104 -44,075
12,820
65,306
12,450
12,786
13,327
6,283
29,531 -19,782
13,532
9,998
60,676
12,910
7,597
16,460
23,709
104,741
54,602
43,533
38,883
13,702
732
18,158 -19,552
29,348
34,538
79,339
18,446
16,539
20,208
24,146
104,224
31,229
26,200
26,619
20,176
65,050
13,097
13,327
29,038
9,588
232,839
12,711
108,113
11,756
28,314
6,283
-4,715 -19,067
101,127
13,739
63,284
14,272
7,597
16,821
24,595
105,481
51,362
43,089
38,995
13,702
732
19,057 -21,526
29,633
33,161
79,721
17,329
16,539
21,405
24,449
107,135
32,695
26,200
27,189
21,051
103
104
105
106
107
Equity capital...........................................................................
Manufacturing.....................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
Other...................................................................................
147,432
75,630
5,850
18,513
47,438
17,608
7,744
448
2,118
7,298
36,662
16,123
2,509
8,589
9,441
69,018 24,144
22,084
29,679
893
2,000
18,896 -11,089
27,145
3,555
45,689
9,474
721
23,044
12,451
42,408
13,414
10,512
15,095
3,387
44,897
8,630
6,565
21,439
8,263
17,608
7,744
448
2,118
7,298
36,662
16,123
2,509
8,589
9,441
69,018 24,144
22,084
29,679
893
2,000
18,896 -11,089
27,145
3,555
45,689
9,474
721
23,044
12,451
42,408
13,414
10,512
15,095
3,387
44,897
8,630
6,565
21,439
8,263
108
109
110
111
112
Reinvested earnings without current-cost adjustment (line 70
with sign reversed)..............................................................
Manufacturing.....................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance....
Other...................................................................................
63,825
26,448
21,252
-4,943
21,069
17,841
6,385
5,263
1,458
4,734
28,442
12,056
6,724
1,946
7,715
19,451
-1,908
5,280
2,726
5,320
3,944
2,864 -11,212
5,987
2,633
7,176
4,042
5,585
-3,764
1,313
23,637
6,425
4,452
6,049
6,711
19,279
6,663
5,103
1,962
5,550
17,949
7,416
5,263
743
4,527
25,835
10,695
6,724
1,586
6,830
18,710
5,723
5,320
1,965
5,702
1,332
2,614
3,944
-9,237
4,010
6,794
5,159
5,585
-4,961
1,010
20,726
4,960
4,452
5,479
5,835
19,023
7,310
5,103
1,470
5,140
113
114
115
116
117
Intercompany debt..................................................................
Manufacturing.....................................................................
Wholesale trade..................................................................
Finance (including depository institutions) and insurance 2
Other...................................................................................
21,581 -22,738
-1,821
6,035
-2,374 -13,907
1,213
572 -1,637
-18,286 -22,643
6,285
1,707
7,438
32,620
17,013
15,726
7,489
-2,703
-3,499
29,126
6,590
-5,212
775
26,973
26,856
3,814
10,232
2,125
10,685
41,090
12,856
11,236
6,045
10,953
-1,821
1,130 -22,738
-2,374 -13,907
-2,843
572 -1,637
1,659
6,129 -22,643
6,285
1,707
-3,815
7,438
17,013
15,726
7,489
-2,703
-3,499
29,126
6,590
-5,212
775
26,973
26,856
3,814
10,232
2,125
10,685
41,090
12,856
11,236
6,045
10,953
1,130
-2,843
1,659
6,129
-3,815
118 Royalties and license fees, net................................................
U.S. affiliates’ payments (table 1, part of line 26).....................
119
U.S. affiliates’ receipts (table 1, part of line 9)..........................
120
-13,265
-17,420
4,154
-3,437
-4,499
1,062
-3,251
-4,168
918
-2,894
-4,017
1,123
-3,684
-4,736
1,052
-3,544
-4,459
914
-3,322
-4,338
1,016
-3,489
-4,534
1,045
-3,694
-4,756
1,062
-3,499
-4,416
918
-3,044
-4,167
1,123
-3,029
-4,081
1,052
-3,779
-4,693
914
-3,596
-4,613
1,016
-3,714
-4,759
1,045
121 Other private services, net.......................................................
122
U.S. affiliates’ payments (table 1, part of line 27).....................
U.S. affiliates’ receipts (table 1, part of line 10)........................
123
3,534
-20,518
24,052
875
-4,927
5,802
785
-5,327
6,112
579
-5,046
5,626
1,294
-5,218
6,512
1,055
-4,445
5,500
1,621
-4,595
6,216
1,439
-4,638
6,077
1,058
-4,927
5,985
813
-5,327
6,140
984
-5,046
6,031
679
-5,218
5,897
1,309
-4,445
5,754
1,782
-4,595
6,377
1,876
-4,638
6,514
See the footnotes on pages 60-61.
48
U.S. International Transactions
January 2009
Table 8. Transactions in Long-Term Securities
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
2007
2007
I
A1 Foreign securities, net purchases (-) or net sales (+) by U.S. residents (table 1, line 52 or lines 4 + 18 below).............
-288,731
2
Stocks, gross purchases by U.S. residents...................................................................................................................
5,334,954
3
Stocks, gross sales by U.S. residents
5,216,931
4
Stocks, net purchases by U.S. residents
-118,023
5
New issues in the United States 1
n.a.
n.a.
6
Transactions in outstanding stocks, net.....................................................................................................................
n.a.
Net purchases by U.S. residents, by area:
7
Europe ..............................................................................................................................................................
-82,450
8
-71,384
Of which United Kingdom
9
Canada
-7,943
-1,555
10
-6,817
Caribbean financial centers 2..............................................................................................................................
11
Latin America, excluding Caribbean financial centers............................................................................................
-11,314
12
Asia..................................................................................................................................................................
-4,826
13
Of which: Japan.............................................................................................................................................
-1,529
14
Africa
-1,917
121
15
Other
-2,756
16
Bonds, gross purchases by U.S. residents....................................................................................................................
3,143,328
17
Bonds, gross sales by U.S. residents...........................................................................................................................
2,972,620
18
Bonds, net purchases by U.S. residents
-170,708
19
New issues in the United States 1
n.a.
20
Transactions in outstanding bonds, net.....................................................................................................................
n.a.
Net purchases by U.S. residents, by area:
21
Europe
.........................................................................................................................................................
-149,520
22
Of which: United Kingdom...............................................................................................................................
-92,500
23
Canada ........................................................................................................................................................
-4,818
24
Caribbean financial centers 2..............................................................................................................................
-46,200
25
Latin America, excluding Caribbean financial centers............................................................................................
3,362
26
Asia.........
31,370
27
Of which: Japan..............................................................................................................................................
5,587
28
Africa
.........................................................................................................................................................
3,011
29
Other.................................................................................................................................................................
-7,913
B1 U.S. securities, excluding transactions in U.S. Treasury securities and transactions of foreign official agencies, net
purchases (+) or net sales (-) by foreign residents (table 1, line 66 or lines 4 + 16 + 30 below).................................
573,850
2
Stocks, gross purchases by foreign residents...............................................................................................................
10,600,970
3
Stocks, gross sales by foreign residents........................................................................................................................ 10,418,560
4
Stocks, net purchases by foreign residents.............................................................................................................
182,410
Net purchases by foreign residents, by area:
5
Europe..............................................................................................................................................................
90,791
67,854
6
Of which: United Kingdom...............................................................................................................................
7
Canada.............................................................................................................................................................
9,780
47,124
8
Caribbean financial centers 2..............................................................................................................................
9
Latin America, excluding Caribbean financial centers............................................................................................
1,156
10
Asia...................................................................................................................................................................
27,855
11
Of which: Japan.
-5,571
12
Africa..................
-355
13
Other...................
6,059
14
1,840,549
Corporate bonds, gross purchases by foreign residents.................................................................................................
1,468,462
15
Corporate bonds, gross sales by foreign residents........................................................................................................
16
372,087
Corporate bonds, net purchases by foreign residents..............................................................................................
17
New issues sold abroad by U.S. corporations 1.........................................................................................................
n.a.
18
Transactions in outstanding bonds, net.....................................................................................................................
n.a.
Net purchases by foreign residents, by area:
19
215,411
Europe..............................................................................................................................................................
20
Of which: United Kingdom...............................................................................................................................
128,869
21
Canada.............................................................................................................................................................
12,412
22
61,915
Caribbean financial centers 2
23
Latin America, excluding Caribbean financial centers............................................................................................
4,696
24
71,799
Asia.........
Of which: Japan.............................................................................................................................................
38,552
25
26
Africa
.........................................................................................................................................................
-401
27
Other
6,255
28
Federally sponsored agency bonds, gross purchases by foreign residents......................................................................
1,693,220
29
Federally sponsored agency bonds, gross sales by foreign residents
1,673,867
30
Federally sponsored agency bonds, net purchases by foreign residents..................................................................
19,353
31
n.a.
New issues sold abroad by federally sponsored agencies 1
32
Transactions in outstanding bonds, net.................................
n.a.
Net purchases by foreign residents, by area:
33
Europe..............................................................................................................................................................
53,428
34
Of which: United Kingdom...............................................................................................................................
72,621
35
3,337
Canada.............................................................................................................................................................
36
Caribbean financial centers 2..............................................................................................................................
-16,901
37
Latin America, excluding Caribbean financial centers............................................................................................
3,285
38
Asia................................
-24,227
39
Of which: Japan...........
-9,305
40
Africa.............................
-83
41
Other.................................................................................................................................................................
514
C1 U.S. Treasury bonds and notes, excluding transactions of foreign official agencies, net purchases (+) or net sales (-)
by foreign residents (table 1, part of line 65)............................................................................................................
127,958
2
U.S. Treasury bonds and notes, gross purchases by foreign residents............................................................................. 14,349,195
3
U.S. Treasury bonds and notes, gross sales by foreign residents.................................................................................... 14,221,237
Net purchases by foreign residents, by area:
4
Europe..................................................................................................................................................................
129,317
5
Canada .................................................................................................................................................................
-3,147
6
Caribbean financial centers 2...................................................................................................................................
2,372
7
Latin America, excluding Caribbean financial centers................................................................................................
18,646
8
Asia......................................................................................................................................................................
-19,626
9
Africa
1,501
10
Other
-1,105
Memoranda:
Net purchases of marketable long-term U.S. securities by foreign official agencies included elsewhere in the
international transactions accounts, net purchases (+) or net sales (-) (lines in table 5):
1
U.S. Treasury marketable bonds and notes (line B4).....................................................................................................
39,133
2
Other U.S. government securities (line B6)...................................................................................................................
171,465
3
51,584
U.S. corporate and other bonds (part of line B16)..........................................................................................................
4
15,107
U.S. stocks (part of line B16).......................................................................................................................................
See the footnotes on pages 60-61.
II
2008
III
-99,541
1,150,926
1,107,188
-43,738
n.a.
n.a.
-84,671
1,278,627
1,251,880
-26,747
-37,572
-26,825
IV
1
II '
III <■
n.a.
-100,317
1,415,030
1,358,168
-56,862
n.a.
n.a.
-4,202
1,490,371
1,499,695
9,324
n.a.
n.a.
-35,066
1,481,084
1,454,234
-26,850
n.a.
n.a.
-33,576
1,521,861
1,500,509
-21,352
n.a.
n.a.
86,768
1,457,656
1,472,413
14,757
n.a.
n.a.
-3,085
782,609
726,806
-55,803
n.a.
n.a.
-28,709
-28,161
-2,490
14,872
-536
-9,238
-4,584
-280
-366
887,380
829,456
-57,924
n.a.
n.a.
-11,264
-7,996
-1,420
-33,655
-7,095
-2,609
-479
-1,103
284
816,252
772,797
-43,455
n.a.
n.a.
-4,905
-8,402
-2,478
10,597
-5,449
11,803
6,091
-655
411
657,087
643,561
-13,526
n.a.
n.a.
-14,524
-12,442
-4,166
-12,621
-226
3,672
-35
-171
1,186
762,102
753,886
-8,216
n.a.
n.a.
-11,431
-16,324
-6,216
-5,902
440
5,939
2,523
-1,911
-2,271
575,813
563,589
-12,224
n.a.
n.a.
14,355
8,641
4,409
-23,439
-4,529
24,694
10,256
-68
-665
470,845
542,856
72,011
n.a.
n.a.
-44,245
-24,420
-1,816
-16,483
-8
7,975
-1,223
25
-1,251
-43,218
-18,190
-870
-14,030
-6,022
9,883
-783
151
-3,818
-56,915
-45,209
543
917
4,493
6,764
3,171
536
207
-5,142
-4,681
-2,675
-16,604
4,899
6,748
4,422
2,299
-3,051
-17,731
-9,237
5,444
-3,455
13,846
10,386
3,078
458
-17,164
-11,719
-10,533
-4,821
-3,283
1,063
16,055
-117
991
-10,510
56,464
7,131
1,043
755
4,923
1,041
-2,611
1,867
5,918
183,507
2,132,802
2,090,408
42,394
310,340
2,446,848
2,342,369
104,479
-30,486
2,992,423
3,013,100
-20,677
110,489
3,028,897
2,972,683
56,214
-20,475
3,390,980
3,382,704
8,276
17,068
3,014,693
3,015,375
-682
-89,163
3,334,579
3,332,030
2,549
25,333
20,213
-1,163
17,119
444
-709
-531
-133
1,503
498,803
326,953
171,850
n.a.
n.a.
53,950
37,172
1,121
40,463
586
5,661
-3,891
-58
2,756
525,437
355,864
169,573
n.a.
n.a.
-17,363
-12,926
2,924
-12,843
144
6,335
-1,293
-20
146
412,699
419,951
-7,252
n.a.
n.a.
28,871
23,395
6,898
2,385
-18
16,568
144
-144
1,654
403,610
365,694
37,916
n.a.
n.a.
-632
-8,531
1,701
-11,606
1,533
19,429
4,726
-2,591
442
386,016
396,745
-10,729
n.a.
n.a.
3,082
13,295
3,904
-22,432
820
12,551
1,786
-289
1,682
453,137
402,587
50,550
n.a.
n.a.
5,312
18,192
697
2,987
2,192
-6,428
1,629
-1,831
-380
266,907
301,577
-34,670
n.a.
n.a.
121,615
65,401
5,258
27,730
807
13,267
2,785
-3
3,176
374,193
404,930
-30,737
n.a.
n.a.
127,133
75,794
3,266
18,784
1,470
16,156
6,303
-147
2,911
404,385
368,097
36,288
n.a.
n.a.
-26,726
-15,133
2,951
-2,564
1,477
17,461
11,788
-173
322
432,515
435,072
-2,557
n.a.
n.a.
-6,611
2,807
937
17,965
942
24,915
17,676
-78
-154
482,127
465,768
16,359
n.a.
n.a.
-25,731
-18,178
1,341
-117
1,636
12,038
9,211
-84
188
772,591
790,613
-18,022
n.a.
n.a.
2,417
-1,866
3,224
27,627
-171
16,382
9,383
-32
1,103
620,433
653,233
-32,800
n.a.
n.a.
-30,742
-11,241
255
-7,418
289
4,734
4,446
-283
-1,505
458,618
515,660
-57,042
n.a.
n.a.
-17,876
-12,571
1,655
-5,446
689
-9,798
-8,312
43
-4
20,646
21,722
1,045
-2,089
1,193
15,550
8,256
-26
-31
21,069
27,682
1,021
-14,261
1,358
-11,494
-7,612
-24
-226
29,589
35,788
-384
4,895
45
-18,485
-1,637
-76
775
22,969
18,040
4,304
-32,620
85
-13,821
4,725
17
1,044
-5,972
9,872
3,635
-19,283
893
-12,048
-3,168
-100
75
-28,351
-9,672
-2,320
1,417
432
-27,911
-19,569
-65
-244
38,412
3,291,540
3,253,128
-836
3,400,999
3,401,835
51,915
4,013,569
3,961,654
38,467
3,643,087
3,604,620
15,403
4,161,209
4,145,806
69,184
3,510,382
3,441,198
14,118
3,675,036
3,660,918
31,092
3,268
6,881
3,697
-6,749
-430
653
18,797
220
-32,892
1,491
10,497
814
237
67,733
-7,256
11,570
4,613
-24,114
190
-821
11,695
621
16,813
8,845
740
927
-1,174
-8,019
2,471
-23,538
6,299
36,924
1,837
-571
43,403
6,922
12,784
1,872
2,531
2,243
-571
-6,103
-6,682
25,361
568
1,254
369
-649
18,042
81,303
10,782
153
39,741
60,031
10,965
329
-43,183
18,022
9,184
1,287
24,533
12,109
20,653
13,338
82,404
79,234
12,407
18,528
33,303
93,145
20,720
999
67,128
-8,361
-1,488
-298
1,369
1,766
-4,782
-2,557
January
2009
S u rv ey o f C u rren t B usiness
49
Table 9. Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns Except Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets or increase in U.S. liabilities.
Debits increase in U.S. assets or decrease in U.S. liabilities.)
2007
2007
I
2008
II '
III p
-134,713
80,012
100,043
81,848
49,324
53,787
1,177,354
II
III
IV
Amounts
outstanding
Sept. 30,
2008
I
-706
-46,048
2
3
4
Financial claims............................................................................................................
Denominated in U.S. dollars....................................................................................
Denominated in foreign currencies..........................................................................
9,620
34,959
-25,339
-45,302
-26,162
-19,140
-129,507
-109,428
-20,079
80,119
73,658
6,461
104,310
96,891
7,419
80,581
97,728
-17,147
53,481
53,482
-1
49,268
49,226
42
1,130,964
910,150
220,814
5
6
I
8
9
10
By instrument:2
Resale agreements.................................................................................................
Negotiable certificates of deposit.............................................................................
Other short-term instruments (including money market instruments).......................
Deposits..................................................................................................................
Other claims............................................................................................................
Of which: Financial intermediaries’ accounts 3....................................................
5,626
-16
1,528
-88,141
90,623
96,873
-4,750
9
2,157
-40,978
-1,740
3,641
4,013
-14
-1,625
-70,201
-61,680
-58,072
1,591
6
878
-26,250
103,894
102,680
4,772
-17
118
49,288
50,149
48,624
2,043
3
-336
77,603
1,268
2,293
1,612
-9
-24
40,671
11,231
7,340
1,199
-12
446
-997
48,632
48,548
5,836
49
901
775,948
348,230
305,664
-39,235
-41,202
-37,219
29,152
10,034
37,435
48,782
83,253
817,044
12
13
14
15
By area:
Europe....................................................................................................................
Of which:
United Kingdom...............................................................................................
Germany.........................................................................................................
Caribbean financial centers 4...................................................................................
Other.......................................................................................................................
-29,659
12,029
50,291
-1,436
-22,345
6,169
-3,739
-361
-50,259
-1,079
-88,656
-3,632
44,371
1,743
49,599
1,368
-1,426
5,196
93,087
1,189
46,601
872
33,081
10,065
61,891
-4,344
6,238
-1,539
59,305
5,623
-35,367
1,382
444,070
39,205
273,337
40,583
16
17
18
Commercial claims.......................................................................................................
Denominated in U.S. dollars....................................................................................
Denominated in foreign currencies..........................................................................
-10,326
-9,838
-488
-746
-1,129
383
-5,206
-5,355
149
-107
-492
385
-4,267
-2,862
-1,405
1,267
158
1,109
-4,157
-5,081
924
4,519
3,350
1,169
46,390
44,595
1,795
19
20
By instrument:
Trade receivables....................................................................................................
Advance payments and other claims.......................................................................
-8,347
-1,979
-440
-306
-2,668
-2,538
-389
282
-4,850
583
2,094
-827
-4,284
127
3,324
1,195
40,290
6,100
21
22
23
24
By area:
Europe....................................................................................................................
Canada...................................................................................................................
Asia.........................................................................................................................
Other.......................................................................................................................
-2,451
-1,779
-4,312
-1,784
-733
554
167
-734
-1,896
-1,253
-1,639
-418
324
529
-471
-489
-146
-1,609
-2,369
-143
-78
619
1,222
-496
-2,050
-243
-302
-1,562
3,329
402
-541
1,329
15,468
4,384
15,016
11,522
B1 Liabilities, total (table 1, line 68).......................................................................................
A1 Claims, total (table 1, line 53)...........................................................................................
11
156,290
90,061
122,476
55,599
-111,846
84,085
-54,350
83,598
1,082,687
2
3
4
Financial liabilities.........................................................................................................
Denominated in U.S. dollars....................................................................................
Denominated in foreign currencies..........................................................................
141,184
89,749
51,435
87,949
78,162
9,787
111,324
95,364
15,960
51,786
42,583
9,203
-109,875
-126,360
16,485
74,823
72,413
2,410
-57,511
-16,422
-41,089
84,719
36,243
48,476
1,015,701
809,211
206,490
5
6
7
8
By instrument:2
Repurchase agreements..........................................................................................
Short-term instruments............................................................................................
Other liabilities........................................................................................................
Of which: Financial intermediaries’ accounts 3....................................................
-11,557
-6,937
159,678
25,659
2,430
-3,949
89,468
23,863
3,767
-953
108,510
397
-10,193
-2,250
64,229
40,878
-7,561
215
-102,529
-39,479
-2,738
2,540
75,021
13,924
-387
-1,318
-55,806
373
-588
9
85,298
-9,463
3,906
6,163
1,005,632
245,411
115,194
89,259
73,052
51,108
-98,225
79,248
-48,853
75,448
914,727
71,450
-739
23,516
2,474
63,391
-9,401
-1,480
170
65,860
9,419
35,807
2,465
-15,991
1,611
-454
1,132
-41,810
-2,368
-10,357
-1,293
52,951
9,223
-1,589
-2,836
-35,055
-13,123
-9,192
534
72,355
7,478
10,686
-1,415
558,941
106,346
80,491
20,483
10
11
12
13
By area:
Europe....................................................................................................................
Of which:
United Kingdom...............................................................................................
Germany.........................................................................................................
Caribbean financial centers 4...................................................................................
Other.......................................................................................................................
14
15
16
Commercial liabilities....................................................................................................
Denominated in U.S. dollars....................................................................................
Denominated in foreign currencies..........................................................................
15,106
15,354
-248
2,112
1,816
296
11,152
11,326
-174
3,813
4,529
-716
-1,971
-2,317
346
9,262
8,533
729
3,161
3,965
-804
-1,121
-746
-375
66,986
64,320
2,666
17
18
By instrument:
Trade payables........................................................................................................
Advance receipts and other liabilities.......................................................................
2,038
13,068
1,480
632
1,017
10,135
1,020
2,793
-1,479
-492
4,556
4,706
5,489
-2,328
-4,284
3,163
33,416
33,570
19
20
21
22
By area:
Europe....................................................................................................................
4,281
Canada
1,910
Asia4,539
Other
4,376
792
417
-11
914
3,103
602
5,266
2,181
153
-477
2,724
1,413
233
1,368
-3,440
-132
289
-285
7,053
2,205
2,162
480
-258
777
93
96
1,283
-2,593
17,853
5,930
31,410
11,793
9
See the footnotes on pages 60-61.
50
U.S. International Transactions
January 2009
Table 10. Claims on Foreigners Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
(Credits +; decrease in U.S. assets.
Debits increase in U.S. assets.)
Line
2007
2007
I
1 Claims reported by U.S. banks and securities brokers, total (table 1, line 54)......................
-644,751
2
Claims for own accounts.......................................................................................................
3
II
2008
III
IV
I
-88,697 -115,926 -221,316
-523,293 -222,213 -123,041
-56,992
-121,047 -233,462
Denominated in dollars........................................................................................................
-496,754
-59,212 -103,536 -216,959
4
5
6
7
8
By instrument:2
Resale agreements......................................................................................................
Negotiable certificates of deposit.................................................................................
Other short-term instruments (including money market instruments)...........................
Deposits and brokerage balances...............................................................................
Other claims (including loans)......................................................................................
-136,054
442
-7,910
-47,870
-305,362
-75,037
-3,522
977
-64,938
-79,800
-54,991
513
-2,293
-11,022
-43,893
-49,384
3,328
-2,151
76,673
-87,678
9
10
11
By foreign borrower:
Claims on:
Foreign banks..........................................................................................................
Foreign nonbanks, excluding foreign official institutions...........................................
Foreign official institutions 3.....................................................................................
-394,250 -182,961
-91,280
-44,952
-11,224
5,593
-51,556
-56,657
-3,473
-61,176
-7,729
9,693
12
13
By type of U.S. reporting institution:4
U.S.-owned banks’ claims on:
Foreign banks..........................................................................................................
Foreign nonbanks and foreign official institutions....................................................
-21,555
-8,581
-8,119
-22,928
17,264
-1,646
14
15
Foreign-owned banks’ claims on:
Foreign banks..........................................................................................................
Foreign nonbanks and foreign official institutions....................................................
-226,817 -107,574
-28,942
-10,272
-18,740
-2,501
16
17
Brokers’ and dealers’ claims on:
Foreign banks..........................................................................................................
Foreign nonbanks and foreign official institutions....................................................
-92,420
-38,369
-53,832
-20,506
18
Denominated in foreign currencies......................................................................................
-26,539
19
20
By instrument:2
Deposits and brokerage balances...............................................................................
Other claims (including loans)......................................................................................
21
22
23
24
25
26
27
II'
III p
Amounts
outstanding
Sept. 30,
2008
213,859
151,994
3,669,174
155,257
91,760
2,926,602
141,715
71,619
2,784,094
43,358 -51,199
3,730
123
-515
-4,443
-48,583 -146,073
-22,902
-93,991
75,324
-510
3,028
25,626
38,247
-6,598
354
-302
101,273
-23,108
748,798
2,256
40,075
991,605
1,001,360
-98,557 -178,277
18,058 -44,914
-23,037
6,232
100,517
30,856
10,342
11,361
40,591
19,667
2,136,530
565,392
82,172
-62,603
-2,038
-82,007
-26,249
49,616
5,904
-12,351
3,835
581,615
154,348
-35,029
-9,048
-65,474
-7,121
-51,785
-8,096
14,244
8,140
89,177
-779
1,202,259
111,271
-24,697
-34,701
-43,411
12,658
29,520
4,180
-44,485
-4,337
36,657
27,154
-65,465
57,202
352,656
381,945
107
-11,355
2,220
-17,511
-16,503
13,542
20,141
142,508
-9,089
-17,450
-4,008
4,115
-1,925
-9,430
1,039
1,181
-4,195
-13,316
-2,234
-14,269
476
13,066
6,980
13,161
65,882
76,626
Claims for customers’ accounts...........................................................................................
-121,458
-7,930
-86,944
-31,705
5,121
12,146
58,602
60,234
742,572
Denominated in dollars........................................................................................................
-118,139
4,700
-84,030
-36,611
-2,198
22,656
57,409
50,892
670,177
By instrument:2
Commercial paper5....................................................................................................
Negotiable certificates of deposit.................................................................................
Other short-term instruments (including money market instruments)6........................
Deposits and brokerage balances (including sweep accounts)7.................................
Other claims.................................................................................................................
1,728
-1,295
-319
-116,725
-1,528
6,071
19,591
-5,400
-13,897
-1,665
-6,462
-26,455
-31,885
-18,893
-335
6,074
-19,720
16,036
-30,173
-8,828
-3,955
25,289
20,930
-53,762
9,300
-17,972
-15,665
31,695
23,576
1,022
2,767
20,859
-14,066
46,234
1,615
24,005
1,324
-5,330
31,292
-399
121,920
171,364
52,917
308,280
15,696
28
Denominated in foreign currencies......................................................................................
-3,319
-12,630
-2,914
4,906
7,319
-10,510
1,193
9,342
72,395
29
30
By instrument:2
Deposits and brokerage balances...............................................................................
Other claims................................................................................................................
-10,310
6,991
-16,053
3,423
-3,229
315
7,184
-2,278
1,788
5,531
-8,296
-2,214
4,151
-2,958
9,888
-546
40,992
31,403
-34,853 -141,344
151,773
34,984
2,015,172
-52,182
16,755
-21,939
-50,355
-1,627
1,051
-11,483
-7,985
883
121,778
50,252
23,927
41,305
-11,233
11,731
3,764
-2,753
-891
-65,207
16,700
-11,293
82,706
3,375
22,447
9,697
13,934
5,841
1,140,837
116,776
152,626
1,188,317
99,574
150,634
80,539
5,368
57,483
-75,013
-35,193
-230,143
-209,985
-222,320 -111,686
Claims, total (line 1), by area:
31
32
33
34
35
36
37
38
39
40
Europe.....................................................................................................................................
Of which:
United Kingdom..............................................................................................................
Switzerland.....................................................................................................................
Canada....................................................................................................................................
Caribbean financial centers 8...................................................................................................
Latin America, excluding Caribbean financial centers.............................................................
Asia............
Of which: Japan
Africa..........
Other..........
Memoranda:
1 International banking facilities’ (IBFs) own claims, denominated in dollars (in lines 1-15 above)
2
3
By bank ownership:4
U.S.-owned IBFs..................................................................................................................
Foreign-owned IBFs............................................................................................................
See the footnotes on pages 60-61.
-463,738 -177,034 -118,245 -133,606
-200,111
-75,511
-30,957
-138,732
-27,798
41,149
62,072
-5,794
-18,881
-43,294
-57,821
-3,764
-61,164
-4,275
19,484
21,511
604
-3,994
-69,231 -108,692
-4,124
-5,067
-5,067
-23,832
-50,223
21,649
-15,405
-5,968
-6,734
48,137
5,347
26,965
277
-390
-4,015
-5,260
21,106
-6,499
1,706
-48,994
-2,150
-19,738
8,249
-6,285
-5,612
-119,295
-94,936
12,964
28,542
-65,865
35,645
119,845
-4,630
493,342
-38,693
-80,602
-22,137
-72,799
559
12,405
20,280
8,262
-37,395
-28,470
-13,157
48,802
63,344
56,501
-13,063
8,433
65,898
427,444
January 2009
Su r v e y
of
51
C u r r e n t B u s in e ss
Table 11. Liabilities to Foreigners, Except Foreign Official Agencies, Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
(Credits +; increase in U.S. liabilities.
Debits decrease in U.S. liabilities.)
Line
2007
2007
1
1 Liabilities reported by U.S. banks and securities brokers, total (table 1, part of line 65 and table 1,
line 69)................................................................................................................................................
II
2008
III
IV
I
IIr
I II "
Amounts
outstanding
Sept. 30,
2008
3,838,301
137,083
69,416 145,579
126,948
-260,108
-72,486
4,470
-12,686
15,491
21,592
47,860
-3,492
75,388
225,122
Other U.S. liabilities, total (table 1, line 69)......................................................................................
532,813 205,132
149,769
53,925 123,987
79,088
-256,616 -147,874
3,613,179
4
Liabilities for own accounts.........................................................................................................
443,997 172,822
137,330
32,113 101,732
43,964
-247,301
-76,907
3,024,717
5
Denominated in dollars...............................................................................................................
168,304
113,168
28,823
60,106
46,858
-237,273
-64,779
2,798,858
6
7
8
By instrument:2
Repurchase agreements.....................................................................................................
Deposits and brokerage balances.......................................................................................
Other liabilities (including loans)..........................................................................................
29,981 125,520
227,005 32,518
113,415
10,266
19,136 -65,729 -48,946
55,052 62,272 77,163
38,980 32,280 31,889
10,774
25,430
10,654
-119,965
-95,866
-21,442
-95,551
-16,792
47,564
747,219
1,401,460
650,179
9
10
By foreign holder:
Liabilities to:
Foreign banks.................................................................................................................
Foreign nonbanks, including international organizations.................................................
270,328
100,073
96,035
72,269
76,608 46,890
36,560 -18,067
-172,000
44,280
-65,273 -109,059
1,970,726
828,132
11
12
By type of U.S. reporting institution:3
U.S.-owned banks’ liabilities to:
Foreign banks.................................................................................................................
Foreign nonbanks, including international organizations.................................................
184,778
5,859
2,347
-3,552
13
14
Foreign-owned banks' liabilities to:
Foreign banks.................................................................................................................
Foreign nonbanks, including international organizations.................................................
58,344
23,739
4,417
6,823
15
16
Brokers’ and dealers’ liabilities to:
Foreign banks.................................................................................................................
Foreign nonbanks, including international organizations.................................................
27,206
70,475
89,271
68,998
17
Denominated in foreign currencies..............................................................................................
73,596
4,518
24,162
3,290
41,626
-2,894
18
19
By instrument:2
Deposits and brokerage balances.......................................................................................
Other liabilities (including loans)..........................................................................................
16,037
57,559
532
3,986
5,664
18,498
-3,939
7,229
13,780
27,846
20
Liabilities for customers’ accounts..............................................................................................
88,816
32,310
12,439
21,812
21
Denominated in dollars...............................................................................................................
89,750
30,812
1,360
36,035
22
23
By instrument:2
Negotiable certificates of deposit and other short-term instruments....................................
Other liabilities (including loans)..........................................................................................
46,017
43,733
13,056
17,756
15,761
-14,401
Denominated in foreign currencies..............................................................................................
-934
2
U.S. Treasury bills and certificates (table 1, part of line 65)..........................................................
3
24
561,680 209,602
28,867
370,401
50,795
9,311
-28,173
75,031
37,075
4,071
31,822 113,534
-9,991
15,331
22,179
21,334
-40,837
6,760
12,240
-10,473
870,040
142,085
33,434
9,180
46,585 -26,092
-1,952
9,688
-16,719
-5,599
-61,100
-3,521
7,288
17,090
705,194
111,000
6,099 -31,517 -36,647
23,309 -6,124 -15,708
-33,633
59,296
24,752
-70,063
-68,512 -115,676
395,492
575,047
-10,028
-12,128
225,859
-6,326
3,432
-9,298
-730
-5,565
-6,563
95,247
130,612
22,255
35,124
-9,315
-70,967
588,462
21,543
32,222
-6,875
-65,227
576,775
13,276
22,759
3,924
17,619
33,946
-1,724
-3,083
-3,792
-37,938
-27,289
289,903
286,872
1,498
11,079 -14,223
712
2,902
-2,440
-5,740
11,687
199,872 201,893
3,208
12,762
4,534
231,839
1,112
10,058
68,490 -5,534
3
7,705
-84
2,087
48,569 -83,012
8,740
8,424
59,366 96,129
2,780
-447
26,939 34,460
1,375 -1,310
2,000
-319
32,422
-7,610
71,810
6,613
12,625
7,637
490
61,870
12,021
5,040
1,006
-12,303
5,806
5,648
-213,127 -102,541
2,522
-5,817
-71,799 -53,377
-2,392
-4,365
20,397
37,116
4,540 -16,557
-2,333
3,243
1,345,362
66,881
1,746,882
109,651
307,145
9,969
27,289
Other U.S. liabilities, total (line 3), by area:
?5
?fi
?7
28
?9
30
31
Canada...........................................................................................................................................
Caribbean financial centers 4...........................................................................................................
Latin America, excluding Caribbean financial centers.....................................................................
Other...............................................................................................................................................
Memoranda:
1 International banking facilities’ (IBFs) own liabilities, denominated in dollars (in lines 3-14 above).........
104,067
16,024
20,005
37,911
30,127
14,429
-27,628
2,755
471,569
By bank ownership:3
U.S.-owned IBFs.............................................................................................................................
Foreign-owned IBFs........................................................................................................................
56,968
47,099
17,925
-1,901
2,406
17,599
-2,057
39,968
38,694
-8,567
34,901
-20,472
-25,607
-2,021
-25,326
28,081
162,301
309,268
?
3
See the footnotes on pages 60-61.
52
U.S. International Transactions
2009
J a n u a ry
Table 12. U.S. International
[Millions
Europe
Line
(Credits +; debits - ) 1
European Union 15
2008
Euro area 16
2008
2007
2007
II r
III <•
Belgium
2008
2008
2007
II r
I II "
2007
II r
III p
II '
III p
Current account
1 Exports of goods and services and income receipts........................................
895,727
240,763
235,541
779,899
205,629
200,937
488,035
136,150
132,194
37,086
11,372
11,096
2
Exports of goods and services............................................................................
490,372
143,369
424,739
122,827
120,660
283,057
82,560
81,399
29,125
8,967
8,633
3
4
5
6
7
8
Goods, balance of payments basis 2...............................................................
280,845
145,206
87,322
82,296
242,244
72,622
67,567
178,328
53,215
50,289
25,153
7,831
Services 3........................................................................................................
Transfers under U.S. military agency sales contracts4................................
Travel...........................................................................................................
Passenger fares..........................................................................................
Other transportation....................................................................................
209,527
4,184
57,884
839
61,073
920
182,494
3,018
50,204
485
53,093
532
104,729
1,190
29,345
215
31,110
216
3,971
47
1,136
8
31,527
8,155
19,328
9,956
2,771
5,537
11,607
3,168
5,674
29,012
7,505
17,215
9,135
2,540
4,872
10,752
2,934
4,981
14,547
4,171
9,657
4,764
1,484
2,760
5,865
1,638
2,852
598
330
543
194
88
151
7,403
1,230
8
219
136
144
9
10
11
Royalties and license fees 5........................................................................
Other private services 5...............................................................................
U.S. government miscellaneous services...................................................
47,797
98,222
314
13,147
25,559
75
13,539
26,076
89
38,772
86,731
241
10,638
22,476
58
26,950
48,053
161
7,306
12,778
38
7,525
12,962
52
839
1,611
4
289
405
1
298
423
1
12
Income receipts...................................................................................................
13
Income receipts on U.S.-owned assets abroad...............................................
14
Direct investment receipts...........................................................................
15
Other private receipts..................................................................................
16
U.S. government receipts............................................................................
17
Compensation of employees...........................................................................
18 Imports of goods and services and income payments......................................
19
Imports of goods and services............................................................................
405,355
95,556
92,172 355,160
95,440
404,909
92,055 354,798
47,759
44,171
148,912
176,881
47,177
226,974
47,056 204,942
1,054
504
828
944
117
117
446
362
-937,050 -254,858 -245,419 -817,551
-580,206 -165,129 -163,079 -501,975
82,803
82,708
39,481
42,780
447
95
-216,012
10,970
22,853
70
80,277
80,181
36,491
42,955
735
95
204,978
204,775
113,725
90,109
941
203
53,591
53,537
31,207
21,884
446
54
-204,190
-524,662
-143,631
-138,765
-135,240
-359,218
-100,353
-95,258 -18,618
-5,846
-5,230
20
Goods, balance of payments basis 2...............................................................
-411,179 -118,311
-116,085 -356,180
-97,947
-94,393
-268,772
-74,741
-70,039 -15,284
-4,852
-4,251
21
22
Services 3........................................................................................................
Direct defense expenditures........................................................................
-169,026
-12,563
-46,819
-3,551
-46,993 -145,795
-3,625 -11,115
-40,817
-3,144
-40,848
-3,210
-90,445
-9,484
-25,612
-2,580
-25,219
-2,685
-3,333
-159
-994
-36
-980
-40
50,795
7,961
2,404
2,463
50,742
7,941
2,399
2,458
28,769
3,356
1,041
1,039
21,253
4,585
1,358
1,419
720
0
0
0
53
20
5
5
-129,587 -41,964 -11,563 -10,602
23
24
25
Travel....................
Passenger fares....
Other transportation
-24,345
-14,029
-26,151
-8,874
-4,741
-7,495
-8,400
-4,633
-7,751
-21,953
-13,285
-22,857
-8,063
-4,541
-6,626
-7,590
-4,414
-6,869
-14,677
-8,006
-13,555
-5,793
-2,711
-3,978
-4,964
-2,678
-4,203
-175
-35
-712
-75
-25
-231
-50
-27
-225
26
27
28
Royalties and license fees 5
Other private services a...............................................................................
U.S. government miscellaneous services...................................................
-15,258
-74,607
-2,073
-3,850
-17,788
-519
-3,995
-18,067
-522
-11,906
-63,136
-1,543
-2,960
-15,108
-376
-3,067
-15,304
-394
-7,819
-35,629
-1,276
-1,908
-8,313
-330
-1,982
-8,359
-349
-206
-1,999
-47
-58
-556
-14
-60
-564
-14
29
30
31
32
33
34
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
-356,845
-356,223
-82,019
-238,478
-35,726
-621
-89,728
-89,581
-30,075
-48,508
-10,998
-147
-82,340 -315,576
-82,203 -315,095
-23,494 -72,683
-48,145 -217,816
-10,564 -24,596
-138
-481
-77,247
-77,132
-24,910
-44,534
-7,688
-115
-68,950
-68,841
-17,476
-44,119
-7,246
-109
-165,444
-165,108
-48,262
-100,120
-16,726
-336
-43,278
-43,196
-15,783
-23,757
-3,656
-82
-34,329 -23,347
-34,250 -23,337
-7,418 -2,049
-23,736 -18,853
-3,096 -2,435
-79
-10
-5,717
-5,715
-588
-4,641
-486
-2
-5,372
-5,369
-190
-4,722
-457
-2
35 Unilateral current transfers, net
36
U.S. government grants 4.........
3/
U.S. government pensions and otner transters...................................................
38
Private remittances and other transfers 6............................................................
-11,922
-1,856
-1,779
-8,287
-2,133
-492
-459
-1,182
-2,049
-574
-464
-1,011
-4,713
-155
-1,661
-2,897
-963
-49
-427
-487
-691
-23
-431
-237
-8,487
-10
-1,251
-7,226
-1,525
-20
-323
-1,182
-937
-14
-300
-623
-217
0
-24
-193
-41
0
-6
-35
-40
0
-6
-34
Capital account
39 Capital account transactions, net........................................................................
-375
-228
-231
25
-122
-124
-258
-68
-68
-24
-6
-6
-958,643
83,066
-33,412 -868,121
32,486
-19,592
-412,893
8,757
-263
0
-365
0
-194
0
-291
0
-679
0
-110,551
-194
0
-14,357 -46,135 -17,811
-896
0
-263
-365
^679
-194
-291
-40,954 -186,586
-13
-38
49
89
-40,990 -186,637
-19,920
-207
285
-19,998
-34,985
0
7
-34,992
-169,709
-22
49
-169,736
-679
-19,929
0
76
-20,005
-34,990
0
7
-34,997
-847,522
-175,475
-235,455
-40,461
-396,131
67,665
-43,697
-31,079
46,346
96,095
150,408
-31,796
68,345
87,384
26,475
-392,285
-136,342
-74,017
-6,332
-175,594
-75,367
-35,744
-7,570
-13,532
-18,521
4,481 1,019,024
-177,044
-11,802
349,580
-75,799
Financial account
40
41
42
43
44
45
U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-)).........................................................................................................
U.S. official reserve assets..................................................................................
Gold 7..............................................................................................................
Reserve position in the International Monetary Fund
Foreign currencies..................................................
46
47
48
49
50
51
52
53
64
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 8..............................
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, not included elsewhere...........................
55
Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...........................................................................
56
57
58
59
60
61
62
Foreign official assets in the United States.........................................................
U.S. government securities..
U.S. Treasury securities 9.
O ther10...........................
Other U.S. government liabilities 11
U.S. liabilities reported by U.S. banks, not included elsewhere........................
Other foreign official assets '2.........................................................................
63
64
65
66
6/
68
69
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, not included elsewhere........................
70 Financial derivatives, net......................................................................................
-896
-23,101
-300
1,200
-24,001
-934,646
-197,254
-231,970
-41,684
-463,738
124,283
-51,071
-23,150
46,731
151,773
1,049,740 -138,732
73,375
n
V7)
n
-378
(")
(")
976,365
144,853
152,536
359,630
n.a.
119,474
199,872
153,539
-38,846
70,819
86,582
34,984
-679
0
22,790
362
n
n
( 18)
(17)
( ,7)
n
( 18)
( 18)
( ,7)
(” )
( 18)
n
(17)
n
113
410
-768
169
( 18)
( 18)
( ,7)
(")
( , 8)
( 18)
C7)
(17)
( 18)
-161,522
4,119
n
148,417
57,326
59,591
45,482
( 18)
41,442
25,311
(” )
-473
-53,781
353,014
-6,102
n.a.
n.a.
n.a.
n.a.
75,539
117,874
-46,690
-48,182
-213,127 -102,541 18400,487 1S—168,411
16,309
-53,785
10,018
-8,304
80,715
41,090 -118,580
164,330
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 35).................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 )13............
-130,334
40,501
-89,833
48,510
-11,922
-53,246
-30,989
11,065
-19,923
5,828
-2,133
-16,228
-33,789 -113,936
14,080
36,700
-19,709 -77,236
9,832
39,584
-2,049
-4,713
-11,927 -42,365
-25,325
9,387
-15,938
5,555
-963
-11,345
72
/3
/4
/b
76
77
See the footnotes on pages 60-61.
-8,593
n.a.
71 Statistical discrepancy (sum of above items with sign reversed)14.................
-194
-291
0
0
0
0
0
0
0
-291
-124,712
0
27
-124,739
-1
0
0
-1
(*)
0
0
(*)
-17,811
-363
-9,564
746
-8,630
(*)
0
0
(*)
8,756
-518
-1,838
-387
11,499
-454
-1,214
110,646 -46,134
-29,973 -3,226
42,772 -29,019
21,860 -8,355
75,987 -5,534
-7,531
20,934
n
n
( 16)
( 18)
( 18)
( 18)
( 18)
( 16)
( 18)
( 18)
( 16)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
660
n
250
100
7
9
H
n
H
12
( 16)
( ’8)
( 18)
( 18)
( 18)
( 16)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
48,884
115,463
30,103
( 18)
( 18)
( '“)
-49,674
81,889
-32,503
n.a.
n.a.
n.a.
75,919
45,850
-13,720
18-87,244 18105,718 18-59,929
n.a.
-3,260
-13,613
35,462
111,944
209,036
34,936
9,741
2,127
4,077
( 18)
( 18)
( 18)
( 18)
n
n
313
( 18)
( 18)
( 18)
-26,826
12,245
-14,580
11,327
-691
-3,944
-90,445
14,284
-76,161
39,534
-8,487
-45,114
-21,526
3,733
-17,794
10,313
-1,525
-9,005
(18)
-44,702 13,466
n.a.
n.a.
4,298 -6,777
1S—2,163 184,497
( 18)
-3,388
-2,987
n.a.
n.a.
916
-279
,8—118 18-2,037
n.a.
-2,396
101
n.a.
20,286
32,717
18,402
-7,991
-19,750
9,869
5,891
638
-13,859 10,507
16,466 -15,386
-937
-217
1,670 -5,096
2,979
142
3,121
-3,313
-41
-233
3,153
250
3,402
-2,909
-40
454
January 2009
Su r v e y
53
C u r r e n t B usin ess
of
Transactions, by Area—Continues
of dollars]
Germany
France
2007
II '
2007
2007
III
115,828
35,133
34,604
1
65,633
22,379
22,709
2
17,438
98
38,601
27,032
1,166
14,700
7,679
354
14,729
7,981
388
4
5
2,515
650
2,113
9,024
11,491
73
821
231
665
855
234
692
6
7
8
2,565
8,161
14
4,107
1,018
1,304
2,649
8,249
14
2,509
3,083
16
2,570
3,223
19
9
10
11
136,155
136,053
29,635
106,418
0
102
25,552
25,526
6,398
19,128
0
26
26,151
26,124
6,081
20,028
15
27
50,194
50,110
27,968
22,032
110
84
12,754
12,732
8,278
4,397
57
22
11,895
11,873
7,679
4,101
93
22
12
13
14
15
16
17
III »
246,016
56,844
56,499
109,861
31,292
30,348
10,153
4,132
38
48,733
14,770
16,521
97
12,909
61,128
407
459
174
425
452
207
446
11,936
3,002
4,467
3,523
895
1,267
2,489
6,667
10
502
2,486
3
517
2,468
3
8,859
32,397
61
1,829
1,824
786
1,038
0
5
57,948
57,928
41,770
16,158
0
20
15,778
15,774
11,698
4,076
0
5
14,738
14,733
10,917
3,816
0
5
II r
I II »
103,201
29,691
29,023
45,253
13,913
14,285
32,670
12,582
241
9,827
4,086
37
633
247
246
3,676
2,881
20
840
369
228
1,188
435
1,553
1,695
3,873
12
455
921
2
471
950
4
6,120
6,099
2,277
3,457
365
22
7,345
7,326
2,950
4,376
0
19
1,787
1,782
711
1,071
0
5
III
72,163
19,959
18,809
99,249
27,913
27,095
30,378
8,710
8,386
43,266
12,477
11,868
74,658
21,467
20,974
23,034
6,923
6,557
27,133
7,948
7,045
49,025
14,541
13,594
16,133
51
4,822
11
7,380
36
1,336
410
866
1,584
442
919
13,893
9,140
158
1,920
732
751
4,399
2,524
19
1,148
228
479
25,633
193
4,007
1,149
3,573
6,926
36
2,696
627
1,636
4,529
11
937
235
488
3,360
7,716
46
863
1,980
14
890
2,050
16
6,448
10,194
68
1,795
2,469
14
1,858
2,524
18
28,897
28,853
6,414
22,439
0
44
7,482
7,470
2,423
5,047
0
12
6,942
6,930
1,959
4,971
0
12
24,591
24,514
9,944
13,674
896
77
6,446
6,424
2,670
3,491
263
22
o
IIr
II r
III "
II'
Line
2008
2008
2007
2007
III e
II 1
Europe, excluding European Union
United Kingdom
2008
2008
2007
f
Netherlands
Italy
2008
2008
3
-77,504
-23,550
-18,792
-149,264
-13,120
-64,661
-17,496
-15,330
-239,362
-57,817
-60,002
-119,499
-38,846
-41,229
18
-15,582
-125,899
-33,384
-45,940
-43,357
-13,625
-16,033
-41,669
-35,417
-37,486
-56,636
-12,459
-12,312
-27,849
-8,816
-8,087
-100,960
-27,257
-28,551
-78,231
-26,365
-27,838
19
-41,544
-11,424
-11,191
-94,280
-26,552
-24,511
-35,027
-9,689
-9,485
-18,371
-6,131
-5,498
-56,367
-15,075
-16,033
-54,999
-20,364
-21,692
20
-15,093
-109
-4,609
-30
-4,391
-30
-31,618
-6,962
-8,865
-1,810
-8,872
-1,900
-8,330
-1,106
-2,770
-293
-2,828
-300
-9,478
-127
-2,685
-24
-2,589
-25
-44,594
-1,423
-12,182
-511
-12,518
-475
-23,231
-1,448
-6,001
-407
-6,146
-415
21
22
-3,129
-1,675
-2,032
-1,349
-591
-609
-981
-564
-704
-2,867
-3,078
-5,347
-983
-1,074
-1,550
-907
-996
-1,535
-3,359
-713
-974
-1,403
-150
-341
-1,278
-251
-361
-1,155
-736
-2,295
-470
-265
-658
-320
-263
-699
-5,989
-4,516
-4,623
-2,170
-1,389
-1,462
-2,392
-744
-3,294
-811
-200
-870
-810
-219
-882
23
24
25
-2,756
-5,020
-372
-759
-1,186
-85
-789
-1,233
-90
-2,842
-10,052
-470
-682
-2,642
-123
-712
-2,701
-121
-202
-1,853
-123
^11
-513
-29
-41
-565
-32
-848
-4,252
-65
-147
-1,108
-14
-152
-1,112
-18
-2,621
-25,216
-206
-1,839
-1,564
-1,398
-621
-6,215
-34
-639
-6,341
-43
-3,352
-11,471
-530
-891
-2,681
-142
-928
-2,763
-128
26
27
28
-20,867
-20,755
-11,559
-8,088
-1,108
-113
-7,518
-7,489
-5,445
-1,830
-214
-28
-3,210
-3,182
-1,247
-1,771
-164
-28
-23,366
-23,266
-5,779
-14,931
-2,556
-100
-6,252
-6,228
-1,610
-4,091
-527
-25
-4,102
-4,079
359
-3,961
-477
-24
-2,583
-2,531
-798
-1,022
-711
-51
-1,166
-1,153
-866
-154
-133
-13
-808
-796
-501
-177
-118
-12
-36,812
-36,797
-19,763
-15,143
-1,891
-15
-8,680
-8,676
-5,009
-3,259
-408
-4
-7,243
-7,239
-3,739
-3,123
-377
-4
-138,402
-138,297
-18,848
-114,071
-5,378
-105
-30,560
-30,534
-7,314
-19,751
-3,469
-26
-31,452
-31,427
-8,462
-19,335
-3,630
-25
-41,268
-41,129
-9,337
-20,662
-11,130
-140
-12,481
-12,449
-5,165
-3,974
-3,310
-32
-13,391
-13,362
-6,018
-4,026
-3,318
-29
29
30
31
32
33
34
348
0
-96
444
102
0
-23
125
67
0
-24
91
-1,188
0
-434
-754
-499
0
-111
-388
-274
0
-111
-163
-441
0
-251
-190
-174
0
-63
-111
-184
0
-63
-121
186
0
-30
216
125
0
-8
133
-33
0
-8
-25
4,524
0
-280
4,804
758
0
-71
829
783
0
-72
855
-7,210
-1,701
-118
-5,391
-1,170
-443
-32
-695
-1,359
-551
-33
-775
35
36
37
38
-36
-9
-9
-22
-6
-6
-29
-7
-7
8
2
2
437
-15
-16
-400
-106
-107
39
-58,585
4,906
33,459
-13,514
-18,306
16,919
-6,633
2,019
5,423
-108,274
-22,863
4,106
-425,510
153,412
-31,954
-90,522
50,580
-13,820
40
-249
0
-84
0
-109
0
-247
0
-52
0
-110
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-217
0
-69
0
-74
0
-249
-84
-109
-247
-52
-110
-217
-69
-74
41
42
43
44
45
-1
0
0
-1
-58,335
-4,730
-12,699
-5,030
-35,876
-1
0
0
-1
4,991
-2,083
1,219
-2,382
8,237
-1
0
0
-1
1
0
0
1
1
0
0
1
2,018
-457
3,780
798
-2,103
0
0
0
0
-108,274
-73,324
4,254
-15,066
-24,138
(*)
0
0
(*)
-22,863
-15,694
-207
-3,405
-3,557
(*)
0
0
(*)
4,106
-17,647
2,514
10,750
8,489
6
0
0
6
-425,516
-31,181
-163,884
-30,340
-200,111
2
0
0
2
153,410
-3,033
-26,857
61,522
121,778
8,043
-2,508
15,772
59,986
-65,207
-3,181
-93
915
-4,003
-87,124
-21,779
3,485
-1,223
-67,607
-5,969
-13
42
-5,998
56,618
-7,374
7,929
385
55,678
-16,877
-16
40
-16,901
3,131
-7,050
2,474
-802
8,509
46
47
48
49
17,028
-1,433
4,559
5,918
7,984
1
0
0
1
5,422
334
3,709
650
729
-39,997
0
0
-39,997
-18,255
-3,857
-2,949
-5,300
-6,149
-1
0
0
-1
-6,632
-3,841
5,140
-158
-7,773
1
0
0
1
33,569
-1,080
20,040
-290
14,899
-2
0
0
-2
-13,265
-8,291
6,419
12,046
-23,439
40,555
-21,688
12,390
66,896
8,233
-3,788
628,918
-102,948
4,142
30,716
38,313
16,283
55
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
H
H
(18)
56
57
58
59
60
61
62
55,591
-34,080
15,357
-6,470
-1,106
5,619
H
H
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
20
H
16
1
-27
32
-10
-32
-2
5
H
H
-12
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
H
24,659
7,289
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
H
n
(" )
( 18)
H
( 18)
H
( 18)
H
n
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
21,764
H
27,927
n.a.
631
18-9,787
3,202
2,622
-5,316
5,693
8,244
5,722
1,336
651
( 18)
( 18)
-5,900
n.a.
-736
1S—18,270
-7,429
n.a.
499
1816,697
-3,782
-2,675
n.a.
-101
-2,746
n.a.
741
44
26,841
22,955
-45,924
9,249
69,393
-21,605
28,392
4,140
-14,411
1,040
-13,371
8,030
348
-4,993
-3,476
-80
-3,556
-36
102
-3,489
-4,145
431
-3,715
3,732
67
85
-45,255
-5,985
-51,241
1,225
-1,188
-51,203
-12,011
-1,939
-13,950
194
-499
-14,255
-10,917
-1,492
-12,409
2,018
-274
-10,665
-21,134
810
-20,324
4,762
-441
-16,002
-5,289
-247
-5,536
621
-174
-5,089
-5,808
53
-5,756
1,021
-184
-4,919
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( ! 8)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
3
64
H
-1
93
46
390
H
-56
( 18)
( 18)
( 18)
( 18)
( 18)
( 16)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
(1S)
( 18)
H
2,372
H
H
( 18)
97
( 18)
( 18)
( , 8)
( 18)
16,660
H
16,492
( 18)
13,034
(18)
-3,564
11,845
10,707
( 18)
( 18)
( 18)
( 18)
( 18)
269,344
21,301
n.a.
n.a.
71,712
-34,360
18274,829 ,8- 1 06,642
-2,721
n.a.
71,635
1B—81,310
6,616
n.a.
1,600
1825,674
5,629
n.a.
1,492
1819,403
-4,107
n.a.
-380
189,966
50
51
52
53
54
63
64
65
66
67
68
69
( 18)
( 18)
( 18)
( 16)
( 18)
( 18)
( 18)
( 18)
-10,041
14,811
n.a.
n.a.
67
-13,048
1846,056 1S—16,716
-2,824
n.a.
7,439
182,508
-12,755
n.a.
71
18524
-144
n.a.
-649
,8- 1 ,647
-636
n.a.
927
184,672
10,085
n.a.
30,534
,s 1,630
2,263
n.a.
-392
18-930
n.a.
516
-3,202
-4,473
n.a.
-4,520
182,769
n.a.
13,133
5,424
n.a.
6,291
-289
n.a.
-6,116
2,127
5,509
-13,980
-228,156
-55,657
30,549
64,795
-83,615
5,628
70
71
14,299
3,105
17,404
21,135
186
38,726
3,696
1,401
5,097
7,098
125
12,320
4,654
1,543
6,197
7,495
-33
13,660
-7,634
16,534
8,901
-2,247
4,524
11,178
-304
4,339
4,035
-5,008
758
-215
-3,123
4,920
1,797
-5,301
783
-2,721
-16,398
3,801
-12,597
8,926
-7,210
-10,881
-5,664
1,678
-3,986
273
-1,170
-4,883
-6,964
1,835
-5,129
-1,496
-1,359
-7,984
72
73
74
75
76
77
( 18)
54
U.S. International Transactions
January 2009
Table 12. U.S. International
[Millions
Latin America and Other Western
Hemisphere
Canada
Line
(Credits +; debits - ) 1
2008
2008
2007
Argentina
2008
2007
II'
South and Central America
2008
2007
III »
II '
2007
III o
II r
III >>
II '
III p
Current account
1 Exports of goods and services and income receipts.........................................
338,445
97,463
92,324
513,488
138,622
146,246
325,860
96,002
102,180
11,359
3,967
2
Exports of goods and services............................................................................
292,984
84,382
79,057
329,150
97,159
281,173
8,604
3,132
2,941
Goods, balance of payments basis 2...............................................................
249,712
71,897
66,959
243,063
73,800
223,158
83,621
67,714
89,684
3
4
5
6
7
8
104,661
78,732
72,319
5,831
2,249
Services 3........................................................................................................
Transfers under U.S. military agency sales contracts 4................................
43,273
279
12,486
134
12,098
134
86,087
710
23,360
162
25,929
198
58,015
676
15,907
154
17,365
176
2,773
11
882
7
2,033
907
7
Travel..........................................................................................................
Passenger fares..........................................................................................
Other transportation........................................................... ........................
12,852
3,318
3,423
4,351
944
941
3,606
1,003
1,009
23,120
7,294
5,970
6,135
1,963
1,912
7,629
2,299
2,036
19,542
6,273
4,737
5,336
1,730
1,452
6,038
1,869
1,555
854
403
132
292
144
39
283
144
46
Royalties and license fees5........................................................................
Other private services 5...............................................................................
U.S. government miscellaneous services...................................................
6,294
17,003
104
1,686
4,392
38
1,739
4,584
22
7,451
41,372
170
1,826
11,308
53
1,876
11,838
53
5,021
21,633
133
1,362
5,829
44
1,398
6,284
44
305
1,059
8
102
295
3
105
320
3
Income receipts...................................................................................................
Income receipts on U.S.-owned assets abroad...............................................
Direct investment receipts...........................................................................
Other private receipts..................................................................................
U.S. government receipts............................................................................
Compensation of employees...........................................................................
45,461
45,307
21,685
23,622
0
154
13,081
13,040
6,996
6,044
0
42
13,268
13,226
6,909
6,317
0
41
184,339
184,116
66,689
117,191
236
223
41,463
41,406
20,493
20,857
56
57
41,586
41,529
19,783
21,715
31
57
44,687
44,492
30,735
13,565
192
195
12,381
12,331
8,891
3,390
50
50
12,496
12,446
8,920
3,498
28
50
2,755
2,747
1,935
802
10
8
835
833
653
179
1
2
858
856
675
179
2
2
-105,290 -568,948 -147,277 -152,777 -393,205 -112,260 -116,212
-98,767 -411,695 -118,844 -123,033 -363,371 -105,404 -109,007
-91,104 -348,378 -100,785 -104,707 -329,621
-95,824
-99,438
-6,536
-1,992
-1,993
-5,756
-1,857
-1,848
-4,489
-1,491
-1,472
9
10
11
12
13
14
1b
16
1/
3,799
18 Imports of goods and services and income payments......................................
-374,017 -105,995
19
-345,476
-99,150
-320,323
-92,714
-25,153
-222
-6,436
-49
-7,663
-60
-63,317
-342
-18,059
-84
-18,326
-88
-33,750
-305
-9,580
-77
-9,569
-78
-1,267
-7
-366
-1
-376
-1
-153
-21
-43
-149
-24
-44
-4
-150
-4
-145
-143
3
-104
-42
-2
Imports of goods and services.
20
Goods, balance of payments basis 2
21
22
Services3............................
Direct defense expenditures
23
24
25
Travel..............................
Passenger fares..........................................................................................
Other transportation....................................................................................
-7,248
-399
-4,916
-1,888
-88
-1,353
-3,111
-88
-1,304
-24,241
-3,406
-6,339
-6,564
-866
-1,976
-6,219
-1,020
-2,087
-18,556
-2,733
-3,367
-5,034
-684
-1,126
-4,739
-792
-1,164
26
27
28
Royalties and license fees 5........................................................................
Other private services 5...............................................................................
U.S. government miscellaneous services...................................................
-748
-11,267
-352
-181
-2,761
-115
-188
-2,802
-110
-432
-27,982
-574
-97
-8,319
-152
-105
-8,648
-159
-161
-8,143
-485
-31
-2,500
-128
-32
-2,630
-135
-646
-83
-120
-14
-385
-12
29
30
31
32
33
34
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 grants4....................................................................................
U.S. government pensions and other transfers...................................................
Private remittances and other transfers 6............................................................
-28,541
-28,010
-13,506
-13,216
-1,288
-531
-6,846
-6,707
-3,018
-3,330
-359
-139
-6,523 -157,253
-6,390 -149,767
-2,621
-6,672
-3,429 -123,866
-19,229
-340
-133
-7,485
-28,433
-26,567
-726
-21,158
-4,683
-1,865
-29,835
-22,473
-3,212
-9,598
-9,663
-7,362
-6,856
-5,006
-364
-1,675
-2,967
-1,850
-7,206
-5,222
-668
-1,757
-2,797
-1,984
-780
-769
-22
-548
-199
-10
-1,733
0
-648
-1,085
-381
0
-167
-214
-451
0
-165
-286
-30,017
-2,303
-779
-26,934
-8,273
-564
-204
-7,505
-29,745
-27,733
-1,664
-21,555
-4,514
-2,011
-8,753
-831
-207
-7,715
-4
-141
-3
-135
-133
9
-100
-42
-2
-25,829
-1,984
-649
-23,195
-6,825
-476
-170
-6,179
-7,322
-740
-173
-6,410
-263
-1
-28
-234
-90
-1
-8
-81
-133
-1
-8
-124
172
23
53
-224
-53
-39
-227
-54
-40
-10
(*)
1
-67,178
9,964
-9,270
-211,775
14,353
14,590
-58,716
-16,066
-3,588
-4,727
537
-1,940
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
188
-21
187
22
5
-74
84
-5
955
-159
1,084
29
166
-21
169
18
9
0
8
1
14,165
-12,534
-7,682
4,309
30,072
14,585
-14,686
-22,290
-34,520
86,081
-59,670
-23,695
-6,835
-952
-28,188
-16,232
-5,502
1,952
-1,630
-11,052
-6
-74
73
-5
-3,582
-7,144
309
78
3,175
123
-1
112
12
9,963
-2,155
-11,037
-772
23,927
1
1,002
0
-301
1,274
0
1
28
-9,271 -212,776
-4,064 -33,718
5,452 -60,969
634
48,441
-11,293 -166,530
-4,850
-1,311
-1,816
14
-1,737
528
-747
1,018
-65
322
(*)
0
0
(*)
-1,940
-639
-447
99
-953
1,902
35
36
37
38
Capital account
39 Capital account transactions, net........................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-)).........................................................................................................
41
42
43
44
45
U.S. official reserve assets
Gold 7.......................
Special drawing rights
46
47
48
49
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 8..............................
U.S. foreign currency holdings and U.S. short-term assets..............................
50
51
52
53
54
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, not included elsewhere...........................
1
0
0
1
-67,179
-22,772
-12,761
-689
-30,957
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...........................................................................
73,694
33,136
-15,645
476,730
-36,298
9,144
118,236
26,598
-11,727
721
(")
H
(")
151
(17)
( ,7)
72,973
36,927
202
(,7)
n
n
-53
n
80,351
n
n
V7)
84
(17)
(,7)
396,379
-575
(" )
101,275
n.a.
23,053
(,7)
n
(17)
6
(")
(1?)
-59,351
18,543
-14,244
(")
(17)
C7)
50
(17)
(")
23,388
4,071
n
-101
n.a.
(,e)
n
n
n
82
n
( 18)
(«)
n
n
n
n
50
n
n
10,763
n.a.
-178
( 17)
n
V7)
15
( ,7)
(")
-15,467
1,612
( 17)
-1,368
n.a.
(” )
( ,7)
( ’7)
(")
-5,817
56
57
58
59
60
61
62
Foreign official assets in the United States.........................................................
U.S. government securities.............................................................................
U.S. Treasury securities 9............................................................................
O ther10.......................................................................................................
Other U.S. government liabilities " .................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere........................
Other foreign official assets 12.........................................................................
63
64
65
66
6/
68
69
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 reponeo by U.S. nonoanking concerns
U.S. liabilities reported by U.S. banks, not included elsewhere........................
(” )
25,529
n.a.
( 17)
h
32,934
11,544
n
n
-12,546
n.a.
12,762
2,522
241,897
-74,191
71 Statistical discrepancy (sum of above items with sign reversed)14.................
-2,953
33,570
393
-34,602
n.a.
-2,767
38,278 -176,488
4,441
34,484
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 35).................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 )13............
-70,611
18,120
-52,492
16,919
-1,733
-37,305
-20,817
6,050
-14,767
6,235
-381
-8,913
-24,145 -105,316
4,434
22,770
-19,710 -82,546
6,745
27,086
-451
-30,017
-13,417
-85,476
-26,985
5,301
-21,685
13,030
-8,273
-16,927
70 Financial derivatives, net......................................................................................
72
73
74
75
76
77
See the footnotes on pages 60-61.
(18)
n
1,238
n
8,638
n.a.
n
-57,742 18108,278
( 17)
n
n
6
(<«)
{18)
(18)
3,016
n
1,414
n.a.
n
1,467
n
2,877
n.a.
n
n
,822,162 1S—16,121
n
(,8)
n
n
58
1,823
(18)
(18)
(18)
(18)
(18)
(18)
(16)
(18)
6
-4
-3
(18)
(18)
(18)
(,8)
(18)
(18)
n
-239
n
453
n.a.
59
181,623
(18)
(18)
322
103
(18)
(18)
400
n.a.
-40
18-620
91
n.a.
-38
181,670
-1,317
243
n.a.
(.9)
35,197
12,362
36,709
-1,726
-2,481
-1,558
-25,974 -106,463
7,602
24,265
-18,372 -82,197
11,841
14,852
-8,753
-25,829
-15,284 -93,174
-28,110
6,327
-21,782
5,525
-6,825
-23,083
-27,119
7,796
-19,323
5,291
-7,322
-21,354
1,342
1,505
2,848
1,976
-263
4,560
759
517
1,275
700
-90
1,886
562
531
1,093
714
-133
1,673
n.a.
-8,411
n
n
January 2009
Survey
of
55
C u r r e n t B usin ess
Transactions, by Area—Continues
of dollars]
Brazil
Mexico
2008
Venezuela
2008
2007
2007
II'
Other South and Central America
2007
I II "
2008
II r
Line
2007
2007
I II »
II 1
Other Western Hemisphere
2008
2008
I II "
II r
II '
III “
III p
47,674
15,328
17,163
175,613
48,273
50,902
17,125
4,621
5,583
74,088
23,814
24,734
187,628
42,620
44,066
1
34,421
10,973
46,730
14,077
4,090
4,801
64,306
21,320
22,197
47,976
13,538
14,977
2
7,900
159,766
135,962
44,107
24,497
13,015
9,777
38,078
40,526
10,193
3,006
3,398
46,675
16,481
16,585
3,073
8
23,803
22
6,029
4
5,613
157
1,634
543
185
7,576
2,151
2,095
2,141
590
639
2,578
715
689
3,578
1,021
1,233
7,452
9
799
233
460
6,413
8,564
22
1,818
612
430
1,402
n
601
201
70
4,838
134
7,194
2,331
1,457
1,084
(*)
390
136
66
17,631
561
695
248
278
6,204
3
1,824
562
449
3,884
1
2,284
845
868
3,238
8
752
247
301
19,905
28,072
33
6,086
9,924
82
1,475
4,361
9
447
1,394
3
457
1,470
3
2,156
10,620
23
478
2,679
8
491
2,866
9
320
1,200
2
89
402
1
765
4,392
91
246
1,059
30
254
1,190
30
2,431
19,739
37
13,253
13,233
8,324
4,816
93
20
4,355
4,349
2,902
1,407
40
6
4,147
4,141
2,669
1,469
3
6
15,848
15,812
11,370
4,435
7
36
4,166
4,157
3,160
996
(*)
9
4,172
4,163
3,159
1,002
2
9
3,048
3,037
2,507
524
6
11
530
527
373
151
3
3
91
438
(*)
782
779
586
193
0
3
9,782
9,662
6,598
2,988
76
120
2,495
2,465
1,802
657
6
30
2,537
2,506
1,830
655
21
30
139,652
139,624
35,954
103,626
44
28
-35,271
-11,325
-11,605
-243,597
-65,783
-65,111
-43,105
-14,893
-17,566
-64,697
-18,267
-19,938
-175,742
-29,701
-9,517
-9,911
-229,347
-62,257
-61,436
-40,581
-14,630
-17,007
-57,986
-17,143
-18,805
-48,325
-25,650
-8,186
-8,439
-213,552
-58,024
-57,445
-39,910
-14,441
-16,781
-46,021
-13,681
-15,301
-18,758
-4,051
-10
-1,331
-4
-1,472
-5
-15,795
-10
-4,233
-2
-3,991
-2
-671
-2
-189
0
-227
0
-11,966
-276
-3,461
-70
-3,504
-70
-919
-293
-484
-247
-78
-161
-4
-832
-5
-339
-91
-173
-4
-855
-5
-10,334
-793
-1,062
-2,677
-224
-373
-2,380
-247
-356
-293
-72
-115
-70
-10
-54
-91
-21
-59
-6,364
-1,492
-1,586
-1,887
-351
-496
-134
-3,279
-183
-16
-895
-47
-16
-941
-49
-3
-175
-11
(*)
-53
-2
(*)
-54
-2
-3
-1,984
-260
-7
-579
-71
-1,780
-409
-532
-7
-630
-75
-1,694
-1,691
-62
-143
-1,486
-3
-14,250
-6,999
-833
-3,104
-3,062
-7,252
-3,526
-1,698
-274
-624
-800
-1,828
-3,675
-1,708
-313
-656
-739
-1,967
-2,524
-2,512
-263
-260
-559
-557
-1,133
-1,123
(D)
-1,159
-183
(D)
(D)
(D)
-203
(D)
(D)
(D)
-2
-2
-6,710
-6,643
-1,207
-3,675
-1,761
-67
-1,125
-1,111
(D)
-20
-1,808
-1,804
-76
-134
-1,594
-4
-13
-947
-22
-23
-902
-293
-3
-6
-284
-320
-6
-6
-308
-12,528
-89
-292
-12,147
-3,227
-24
-75
-3,128
-3,286
-28
-77
-3,181
24
-9
-4
37
-36
-1
-1
-34
-43
-3
-1
-38
-12,114
-1,863
-302
-9,949
-3,179
-447
-80
-2,652
-5
-2
-1
-109
-29
-25
14
3
3
-116
-26,034
-11,858
2,183
-12,842
2,613
-2,705
-3,168
-6,061
-418
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
203
-1
205
-1
-26,236
-4,114
-11,436
262
-10,948
77
-6
85
-2
52
-3
48
7
20
0
12
8
12
-6
14
4
1
0
0
1
-12,894
-8,815
3,025
-461
-6,643
2,593
-1,720
4,128
-1,098
1,283
-2,717
-2,849
900
337
-1,105
12
0
12
0
-3,180
-1,408
-1,480
-223
-69
9
0
8
1
-11,935
-1,294
506
-467
-10,680
6
-5
14
-3
2,177
-2,090
-1,671
-399
6,337
-6,070
102
-6,269
23
74
86,654
( 18)
9,877
( 18)
12,961
( 18)
n
( 18)
( 18)
-35
n
( 18)
( 18)
8,300
( 18)
( 18)
( 18)
( 16)
0
( 18)
( 18)
-3,922
( 18)
( 18)
( 18)
( 18)
581
( 18)
( 18)
( 18)
( 18)
2,643
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
0
( 18)
( 18)
( 18)
( 18)
-6
-2,320
-19
-5,570
-5,550
(D)
-1,112
(D)
n
n
17
( 18)
( 18)
-13,079
( 18)
( 18)
n
H
15
( 18)
( 18)
("
n
( 18)
2
( 18)
( 18)
-12
1,591
430
480
465
5,479
9
478
5,554
9
9
10
11
29,082
29,075
11,602
17,467
6
7
29,089
29,082
10,862
18,217
3
7
12
13
14
15
16
17
-35,017
-36,565
18
-13,440
-14,026
19
-4,961
-5,269
20
-29,567
-37
-8,479
-7
-8,757
-10
21
22
-5,685
-673
-2,972
-1,530
-182
-850
23
24
25
-272
-19,839
-89
-67
-5,819
-25
-1,480
-228
-923
-74
-6,018
-25
26
27
28
-10
-127,418
-127,294
-3,460
-114,268
-9,566
-124
-21,577
-21,561
-362
-19,483
-1,716
-16
-22,539
-22,512
-997
-19,798
-1,717
-27
29
30
31
32
33
34
-3,540
-701
-81
-2,758
-4,188
-319
-130
-3,739
-1,448
-88
-<34
-1,326
-1,430
-91
-34
-1,305
35
36
37
38
-26
-18
3
1
1
39
-11,945
-1,297
-709
-153,059
30,419
18,179
40
0
0
0
0
0
0
0
0
0
0
0
0
41
42
43
44
45
51
-15
56
10
-1,348
-1,843
2,569
-23
-2,051
-25
-63
45
-7
-684
-1,139
1,391
-32
-904
47
-142
190
-1
22
-153,106
-10,023
-54,134
49,393
-138,342
30,398
-7,031
-9,634
5,939
41,124
11
0
11
0
18,168
-7,541
-22,599
-34,598
82,906
46
47
48
49
-419
-428
136
73
-200
565
-153
707
11
-12,510
-8,047
4,872
-544
-8,791
546
( 18)
( 18)
( 18)
( 18)
0
( 18)
( 18)
16,137
( 18)
( 18)
( 18)
( 18)
109
( 18)
( 18)
5,720
( 18)
( 18)
2,905
( 18)
( 18)
( 18)
( 18)
38
( 18)
( 18)
358,494
( 18)
( 18)
( 18)
( 18)
2
( 18)
( 18)
-62,896
( 18)
( 18)
( 18)
( 18)
0
( 18)
( 18)
20,870
( 18)
( 18)
( 18)
55
-634
(D)
H
( 18)
-7
( 18)
n
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
373
( 18)
-874
n.a.
675
1886,515
1,336
( 18)
457
( 18)
1,253
n.a.
-3
'*-14,801
63
( 18)
987
( 18)
749
-40
( 18)
404
177
( 18)
1,080
( 18)
-33
(»)
4,750
n.a.
604
187,542
-1,010
n.a.
1,090
187,233
231
n.a.
-1,604
'8-3,298
-239
n.a.
217
18643
-28
n.a.
301
181,966
18
n.a.
154
18197
4,548
n.a.
( 18)
463
n.a.
-54
'*8,115
C)
3
4
5
6
7
8
( 18)
-651
(D)
O
18
4
H
0
( 18)
( 18)
50
51
52
53
54
56
57
58
59
60
61
62
( 18)
( 18)
-19
( 18)
-1,813
( 18)
15,527
1,284
n.a.
n
181,602
92,637
n.a.
( 18)
-13,960
n.a.
( 18)
-2,978
n.a.
( 18)
1810,400
1,589
n.a.
n
184,171
18267,668
18-64,463
1821,245
63
64
65
66
67
68
69
-1,317
243
n.a.
-1,450
4,198
H
H
H
H
2,603
( 18)
n.a.
70
-72,072
-1,727
5,659
80,501
9,853
24,147
28,530
13,724
11,894
-37
-7,007
-3,433
-211,686
22,122
-45,120
71
-1,153
5,873
4,720
7,683
-947
11,456
-287
1,742
1,456
2,547
-293
3,709
1,338
1,767
3,104
2,454
-320
5,238
-77,589
8,008
-69,581
1,597
-12,528
-80,512
-19,946
1,796
-18,150
640
-3,227
-20,737
-16,919
2,213
-14,706
497
-3,286
-17,496
-29,717
3,213
-26,504
524
24
-25,956
-11,435
895
-10,540
268
-36
-10,308
-13,382
1,176
-12,207
223
-43
-12,026
654
5,666
6,320
3,072
-12,114
-2,723
2,800
1,377
4,177
1,370
-3,179
2,368
1,284
2,109
3,393
1,404
-3,540
1,256
1,147
-1,495
-348
12,234
-4,188
7,698
1,124
-1,027
98
7,505
-1,448
6,155
1,144
-193
951
6,550
-1,430
6,070
72
73
74
75
76
77
H
n
n
P)
n
n
n
n
n
56
U.S. International Transactions
January 2009
Table 12. U.S. International
[Millions
Asia and Pacific
Line
(Credits +; debits - ) 1
Australia
2008
China
2008
2007
2008
2007
II r
Hong Kong
2008
2007
III p
II '
III p
2007
II '
III p
II'
III p
Current account
1 Exports of goods and services and income receipts.........................................
549,508
152,045
155,118
46,705
13,441
25,079
24,826
37,304
9,999
10,033
Exports of goods and services............................................................................
432,229
122,389
125,631
29,711
8,896
13,819
9,234
88,130
2
79,278
22,609
22,544
25,896
7,621
7,536
3
Goods, balance of payments basis 2...............................................................
308,248
88,696
88,057
18,637
5,721
5,876
65,073
18,667
18,219
20,087
6,025
5,825
4
5
Services 3........................................................................................................
Transfers under U.S. military agency sales contracts4................................
123,981
4,209
37,574
965
11,075
612
3,175
89
3,359
89
6
7
8
Travel...........................................................................................................
Passenger fares..........................................................................................
Other transportation....................................................................................
25,384
6,225
17,719
33,693
1,020
7,447
1,823
5,565
9,231
2,196
5,521
2,711
625
355
846
191
118
944
218
123
14,205
(*)
2,081
618
2,653
3,941
0
714
220
872
4,325
0
837
238
817
5,809
(*)
497
146
1,398
1,595
O
142
39
499
1,711
(*)
191
50
504
9
10
11
Royalties and license fees 5........................................................................
Other private services 5...............................................................................
U.S. government miscellaneous services...................................................
5,260
12,471
107
5,394
14,156
111
2,106
4,649
18
593
1,333
5
611
1,368
5
1,879
6,949
24
519
1,608
9
531
1,893
8
533
3,218
16
151
761
4
155
809
2
12
13
14
15
16
17
Income receipts........................
Income receipts on U.S.-owned assets abroad...............................................
Direct investment receipts.
Other private receipts.......
U.S. government receipts..
Compensation of employees.
19,283
50,696
465
117,279
116,882
70,071
46,299
512
397
29,655
29,551
18,673
10,761
117
104
29,488
29,383
18,137
11,146
100
105
16,994
16,966
7,905
9,061
0
28
-28,002
4,545
4,538
2,173
2,365
0
7
-7,242
4,585
4,578
2,119
2,459
0
7
8,852
8,816
5,983
2,778
55
36
2,471
2,461
1,843
610
8
10
11,408
11,336
8,502
2,828
6
72
2,378
2,359
1,817
542
0
19
2,497
2,478
1,764
713
1
19
-7,324 -375,411
2,282
2,272
1,638
619
15
10
-96,945 -112,248
-5,466
-4,681
-4,935 -330,476
-84,129
-98,798
-21,291
-14,032
-5,332
-14,751
-3,643
18 Imports of goods and services and income payments......................................
19
Imports of goods and services............................................................................
-974,243 -245,529 -260,628
-809,423 -207,121 -223,003
20
Goods, balance of payments basis 2...............................................................
-718,562 -181,269 -197,222
21
22
Services 3........................................................................................................
Direct defense expenditures
-8,570
-2,874
-3,056 -321,685
-81,575
-96,204
-7,090
-1,461
-3,789
-1,834
-90,861
-6,302
-25,852
-1,828
-25,782
-1,825
-6,181
-149
-1,807
-61
-1,879
-50
-8,791
-4
-2,554
-1
-2,594
-1
-6,942
-25
-2,182
-3
-1,955
-5
-583
-214
-1,006
-1,282
-1,361
-2,056
-359
-526
-490
-324
-333
-491
-39
-741
-11
-33
-2,144
-41
-11
-781
-12
-11
-781
-10
-1,689
-1,686
-55
-998
-633
-3
-1,678
-1,675
-59
-1,094
-522
-2
-5
0
-3
-2
-22
0
-3
-19
23
24
25
Travel................................
Passenger fares...............
Other transportation.........
-16,436
-9,602
-23,404
-4,512
-2,608
-6,404
-3,958
-2,610
-6,541
-1,343
-970
-330
-323
-224
-104
-341
-286
-65
-2,458
-694
-3,378
26
27
28
Royalties and license fees 5........................................................................
Other private services5...............................................................................
U.S. government miscellaneous services...................................................
-8,316
-26,114
-687
-2,162
-8,165
-173
-2,257
-8,419
-171
-417
-2,888
-84
-131
-943
-20
-137
-985
-16
-115
-2,111
-32
-637
-158
-999
-38
-712
-10
29
30
31
32
33
34
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...........................................................................
-164,820
-163,610
-26,926
-36,215
-100,469
-1,210
-38,409
-38,160
-3,856
-9,387
-24,917
-248
-37,624
-37,416
-3,171
-9,939
-24,306
-208
-13,251
-13,233
-7,447
-4,001
-1,785
-18
-2,561
-2,557
-1,358
-927
-272
-4
-2,389
-2,385
-1,233
-908
-244
-4
-44,935
-44,513
-38
-4,644
-39,831
-421
-12,816
-12,719
-29
-1,371
-11,319
-97
-13,450
-13,360
-20
-1,505
-11,835
-90
35 Unilateral current transfers, net...........................................................................
36
U.S. government grants 4....................................................................................
3/
U.S. government pensions and other transfers...................................................
38
Private remittances and other transfers 6............................................................
-20,957
-9,250
-913
-10,794
-5,565
-2,499
-230
-2,836
-5,160
-1,541
-228
-3,392
177
0
-77
254
-53
0
-21
-32
-18
0
-22
4
-2,422
-11
-8
-2,403
-606
-2
-2
-602
-725
-2
-2
-721
-7,259
-7,240
-267
-3,557
-3,416
-19
-57
0
-12
-45
-992
-268
-274
-29
-8
-8
-166
-46
-47
-21
-5
-6
-17,242
-4,782
10,400
-28,836
1,976
-1,244
6,240
-5,590
-2,105
4,111
-27
0
-40
0
0
0
-16,201
0
0
2,565
-93
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-10,006
0
0
-10,006
18
0
22
-4
12,571
-818
7,774
340
5,275
126
0
125
1
1,850
-5,710
11,149
-96
-3,493
-1,262
-2,748
5,446
-273
-3,687
36
0
40
-4
6,204
-3,277
281
27
9,173
28
0
28
0
-5,618
-5,392
9,481
-8,031
-1,676
(*)
0
0
(*)
-2,105
-3,002
908
-746
735
15
0
15
(*)
4,096
-1,058
8,887
890
-4,623
-6,405
235,607
109,989
130,946
47,713
3,451
12,799
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
(1S)
( 18)
( 18)
( 18)
( 18)
Capital account
39 Capital account transactions, net........................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-)).........................................................................................................
41
42
43
44
45
U.S. official reserve assets..................................................................................
G old7..............................................................................................................
Special drawing rights.....................................................................................
46
47
48
49
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 8..............................
U.S. foreign currency holdings and U.S. short-term assets..............................
819
-237
1,059
-3
147
-32
181
-2
-39,486
-98
234
-39,622
-2
0
0
-2
50
51
52
53
54
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, not included elsewhere...........................
-17,968
-54,357
10,403
-5,567
31,553
-4,903
-18,449
8,676
-770
5,640
49,926
-5,630
28,375
1,508
25,673
-28,834
-9,296
-5,432
5,867
-19,973
-6
0
0
-6
-16,195
-2,181
-8,778
176
-5,412
406,845
136,621
120,930
230,789
(")
n
(")
5,848
84,693
(,7)
n
n
1,245
n
n
51,928
18,689
( ,7)
14,934
n.a.
n
22,656
-93
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...........................................................................
-27
-40
-6,734
9,373
( 18)
115,942
( 18)
( 17)
( 18)
( 17)
( 18)
C7)
754
258
( 18)
( ,7)
( 18)
( ,7)
4,988
( 1S)
9,274
133
( 18)
( ,7)
-32,710
11,448
n.a.
n.a.
1,060
( ,7)
34,851 18-28,774
( 18)
2,653
n.a.
186
184,750
n.a.
-20,386
-1,617
53
18,336
635
-92,573 -109,165
7,842
11,792
-84,732
-97,373
-8,753
-8,137
-5,565
-5,160
-99,050 -110,670
10,067
4,893
14,960
3,742
177
18,879
2,847
1,368
4,215
1,984
-53
6,147
56
57
58
59
60
61
62
Foreign official assets in the United States.........................................................
U.S. government securities.............................................................................
U.S. Treasury securities 9..
O ther10............................
Other U.S. government liabilities "
U.S. liabilities reported by U.S. banks, not included elsewhere........................
Other foreign official assets 12
63
64
65
66
6/
68
69
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, not included elsewhere........................
H
( 17)
176,056
49,161
n
77,745
n.a.
(,7)
67,984
70 Financial derivatives, net......................................................................................
-4,477
1,452
71 Statistical discrepancy (sum of above items with sign reversed)14.................
61,558
-33,973
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 35).................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 )13............
-410,314
33,121
-377,194
-47,541
-20,957
-445,692
72
73
74
7b
76
77
See the footnotes on pages 60-61.
( 18)
( 18)
n
n
( 18)
H
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
26
126
0
0
0
-2
( 18)
0
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
0
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
1,758
1,352
123
-33
207
-543
( , 8)
106
196
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
-2,280
-3,417
-910
-6,730
n.a.
n.a.
n.a.
n.a.
-241
-459
707
642
18—5,362 18239,360 18110,225 18136,827
37,861
n.a.
470
189,927
3,257
n.a.
84
-377
n.a.
67
1812,913
n.a.
-2,630
18 4
( 1S)
52,286
n
-36,228
n
-48,991
n
-58,058
n
-6,002
n
-21,448
2,820 -256,611
1,480
5,413
4,299 -251,198
2,196 -36,083
-18
-2,422
6,477 -289,703
-62,907
1,387
-61,520
-10,345
-606
-72,472
-77,985
1,731
-76,254
-11,168
-725
-88,147
12,997
-1,133
11,864
4,149
-57
15,956
4,565
-587
3,978
689
-5
4,662
3,992
-244
3,747
819
-22
4,544
January 2009
Su r v e y
57
C u r r e n t B u s in e ss
of
Transactions, by Area—Continues
of dollars]
India
Japan
2008
2008
2007
2008
2007
II '
Singapore
Korea, Republic of
II '
III p
36,605
29,791
31,187
8,222
9,393
130,343
34,809
27,022
7,504
8,899
102,052
27,739
17,516
4,628
5,875
60,898
17,285
9,506
2,876
3,024
102
10
1,102
8
10,454
128
II '
III p
55,206
15,141
15,196
47,292
13,217
13,268
17,318
12,472
129
33,646
9,568
9,005
13,646
896
2,515
90
3,061
3,650
248
667
28
952
4,263
248
982
45
911
2,549
4,496
39
796
951
812
1,256
8
1,924
1,918
1,062
855
2008
2008
2008
2007
2007
I II»
Other Asia and Pacific
Taiwan
II r
III p
69,246
19,925
20,871
53,928
15,702
16,456
1
2
6,698
2,167
205
40,555
11,725
13,373
883
3,978
311
12,283
4,174
254
3
4
5
319
13
796
388
15
778
2,389
217
855
74
705
852
71
698
6
803
2,354
27
216
418
222
553
1,230
6,454
6
88
312
1,703
18
323
1,955
6
4,100
4,080
2,425
1,655
1,181
1,176
744
432
1,058
1,053
638
415
15,318
15,230
11,861
3,038
331
4,223
4,200
3,273
848
79
23
4,415
4,391
3,457
896
38
23
-32,103
-30,727
-33,888
-32,643
19
II r
III p
III p
53,540
15,302
14,451
37,848
10,125
9,923
33,303
10,157
9,037
33,747
8,944
8,865
25,874
8,105
6,957
25,961
6,971
7,429
169
2,052
31
2,079
31
7,786
784
1,972
204
497
3
847
171
4
272
143
(*)
287
1,026
1,879
3,998
35
518
1,047
532
1,077
8
8
8
1,929
1,923
1,117
805
20,237
20,205
18,315
1,890
5,145
5,137
4,637
500
5,415
5,406
4,889
517
462
176
942
384
177
41,154
763
11,019
3,451
4,058
903
4,279
54
264
847
15
271
1,227
15
7,400
14,299
164
1,891
3,803
34
3,952
1,175
1,225
1,937
4,018
36
4,164
4,148
2,738
1,392
18
16
718
714
354
358
493
489
117
366
7,070
7,049
2,771
4,251
27
6,815
6,793
2,398
4,356
39
1
6
0
8
0
20
88
-55,508
-64,555
-16,806
-16,449
-6,930
-6,763
-52,696
5
-12,469
5
-58,076
32
-29,354
0
8
0
22
1
6
0
21
7,915
7,891
4,030
3,852
9
24
-12,914
-125,092
2,649
1,053
466
2,631
792
1,176
Line
2007
2007
II r
22
2,770
2,111
21
7
8
9
10
11
12
2
6
-36,088
5
-9,627
5
-10,068
28,292
28,211
8,313
19,805
93
81
-241,755
-33,765
-9,149
-9,630
-172,240
-43,523
-41,537
-56,441
-14,977
-14,855
-22,676
-5,183
-5,165
-45,912
-11,109
-11,651
-119,129
-24,102
-6,197
-6,693
-146,037
-36,384
-34,321
-12,612
-12,487
-18,423
-3,971
-3,918
-38,489
-9,121
-9,718
-28,991
-2,952
-3
-2,938
-5
-26,204
-1,605
-7,140
-444
-7,216
-454
-2,365
-617
-2,368
-550
-4,252
-320
-1,213
-144
-1,246
-160
-7,423
-253
-1,988
-51
-1,933
-75
-106,619
-12,510
-1,588
-27,076
-9,663
-41
-47,547
-8,894
-2,317
-3,651
-504
-3,652
-525
20
21
22
-3,323
-1,855
-2,132
-844
-435
-661
-697
-484
-690
23
24
25
0
-135
-70
-324
-99
-106
-335
-1,044
-1,575
-3,927
-315
-420
-1,042
-6
-528
-5
-7
-534
-5
-32
-582
-5
-152
-3
-5
-155
-3
-45
-3,240
-327
-26
- 1,101
-80
-27
-1,146
-83
26
27
28
-1,746
-1,745
-178
-1,176
-391
-1,598
-1,597
-74
-1,178
-345
-1,360
-1,349
-1
-11
-8
-5,963
-5,821
-33
-1,817
-3,971
-142
-1,376
-1,349
-30
-314
-1,005
-27
-1,245
-1,225
-302
-1,039
-1,263
-1,255
29
-317
-967
-2
-6,784
-6,720
-353
-1,559
-4,808
-64
-20
29
30
31
32
33
34
17
7
0
-4
21
-2
-86
-137
-16,218
-9,096
-452
-6,670
-4,200
-2,474
-15
-156
0
-1
1
-89
(*)
-15
-62
0
-1
8
-445
(*)
-5
-440
-139
0
(*)
-1,614
-3,356
-1,513
-114
-1,729
35
36
37
38
39
-518
-64
-98
-434
-35
-108
-3,379
-1,280
-6,633
-1,071
-330
-1,846
-924
-328
-1,935
-1,117
-1,376
-3,226
-310
-381
-840
-98
-6,884
-25
-2,324
-7
-7,415
-5,763
-129
- 2,000
-1,543
-31
-73
-760
-25
-7
-209
-6
-6
-2,323
-2,081
-744
-628
-709
-242
-478
-432
-227
-92
-113
-46
-437
-69,514
-69,389
-17,175
-13,323
-38,891
-126
-1,915
-1,504
-30
-14,553
-14,526
-1,808
-3,706
-9,012
-27
-205
-21
-23
-2,239
-7
-13,971
-13,948
-1,601
-4,001
-8,346
-23
-8,114
-7,946
-678
-2,036
-5,232
-168
-1,829
-1,798
-164
-501
-1,133
-31
-1,594
-1,570
-504
-1,054
-24
-89
-1,742
-18
-6,678
-6,669
-193
-4,650
-1,826
-9
-2,568
-143
-592
-23
-758
-26
1,160
50
29
-601
-77
-171
0
0
-68
0
0
0
118
-63
92
-61
-540
^101
-102
-109
-36
18
-243
-409
-1,043
-2,069
-142
-408
-190
13
14
15
16
17
—6
-313
-415
-868
-12
-421
-349
-1,314
-10
-8
0
-2
-112
-11
-330
-884
-21
-6
-6
-2,404
-563
-726
-273
1,433
-183
-51
-52
4
1
1
-30
-9
-9
(*)
(*)
(*)
-32
-8
-9
-533
-143
-145
-7,829
-1,553
-1,030
48,564
3,107
-7,221
-5,201
11,081
8,195
-6,468
2,874
-1,846
1,954
866
-294
-15,812
-1,609
-320
40
0
0
0
0
0
0
-93
-27
-40
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-93
-27
-40
41
42
43
44
45
100
0
4
13
-A
18
-29,604
39
3
4
-4
0
6
0
0
0
(*)
(*)
(*)
(*)
(*)
535
-237
768
4
110
0
41
-32
141
56
-98
153
97
3
-7,929
-3,726
-2,648
-162
-1,393
0
12
—8
0
21
-8
0
0
0
0
0
0
-4
-29,604
-2
-4
22,423
5,037
7,645
45
9,696
-5,240
-2,709
787
-74
-3,244
8,191
-1,024
3,367
-16
5,864
-6,464
-6,141
1,507
-778
-1,052
(*)
-1,847
-3,562
1,268
-32
479
O
1,954
-1,920
2,178
-262
1,958
(*)
865
-514
371
223
785
(*)
-294
-529
742
77
-584
1
48,660
-15,586
4,058
-1,884
62,072
(*)
2,875
-2,958
5,642
-244
435
1
-1,043
-135
1,136
-69
-1,975
-3
11,078
-386
3,275
4
8,185
-1
-1,557
-327
13
-124
-1,119
18
3,116
-2,996
2,406
-58
3,764
46
47
48
49
-16,347
-3,877
-10,677
-147
-1,646
-1,719
-3,338
-607
272
1,954
-376
-265
-2,725
246
2,368
50
51
52
53
54
2,523
1,108
3,180
68,201
33,367
6,106
18,994
-11,419
-10,274
20,104
-5,894
-15,321
-7,190
-6,152
3,640
27,627
2,799
-3,740
55
(18 )
H
(IS)
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(1 8 )
(1 8 )
(1 8 )
(18 )
(18 )
(18 )
(18 )
(18 )
(16 )
(18 )
(IS)
(18 )
(18 )
(18 )
(18 )
(18 )
( ’ 8)
(18)
H
(18)
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
82
(1S)
H
-18
(18 )
H
(18 )
-163
-11
5
2
(18 )
(18 )
(18 )
(18 )
(18)
(18 )
(18 )
(18 )
56
57
58
59
60
61
62
H
15,758
(" )
-640
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
4,007
5
-320
(1 8 )
(18 )
(18 )
8,001
852
n.a.
-107
1S—12,158
-269
n.a.
397
18—10,087
-284
n.a.
-831
H
-9,443
n.a.
-151
(16 )
5,103
H
-1,161
n.a.
700
(18 )
(18 )
(18 )
(18 )
1816,160
18—6,312
18-5,105
1,661
n.a.
-54
1s—8,583
165
H
1,279
n.a.
-98
18-7,482
n
-209
-3,020
234
-2,786
-204
-139
-3,129
H
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
(18 )
72
H
n
H
5
H
0
0
0
0
H
0
0
H
(18 )
0
0
C8)
(IS)
673
n.a.
3,371
n.a.
-86
183,058
(16 )
(18 )
(18)
(16 )
(18 )
(18 )
(18 )
248
(18 )
(18 )
-379
n.a.
1,064
18373
-149
n.a.
-75
181,084
-112
-10
182,984
28,775
(18)
23,676
n.a.
1,351
1814,327
n.a.
-1,067
1810,593
-13,494
n.a.
1,429
1818,829
4,685
n.a.
-25
1810,490
n
12,959
n
2,492
( ,s)
-€65
-2,490
2,998
n.a.
(1 8 )
(1 9 )
(1 9 )
(1 9 )
(1 9 )
(1 9 )
-4,027
-16,256
19,988
n
-3,813
2,088
3,512
-37,839
-5,360
9,479
20,562
n
7,728
-6,586
-157
-6,743
1,841
-2,568
-7,470
-1,569
-76
-1,645
240
-592
-1,997
-817
-85,139
14,950
-70,189
-41,222
1,160
-110,251
-19,099
3,315
-15,784
-7,483
50
-23,217
-17,003
5,256
-11,746
-7,156
29
-18,874
-13,901
4,752
-9,150
-199
-601
-9,950
-3,044
1,284
-1,760
95
-77
-1,742
-3,482
1,895
-1,587
335
-171
-1,424
7,451
3,177
10,628
13,559
17
24,203
4,134
839
4,973
3,399
7
8,380
3,039
833
3,872
3,816
(*)
7,688
-12,528
363
-12,165
-2,683
-445
-15,293
-2,150
-16
-2,165
-179
-89
-2,433
(1 8 )
(18 )
('")
186
86
(18 )
(18 )
(18 )
-731
56
-758
-1,433
-22
(18 )
(18 )
n.a.
1,100
(18 )
1,523
(18 )
5,802
H
n
(18)
1,050
-63
(18 )
H
17
58
(18 )
(18 )
(16 )
(18 )
(18)
(18 )
(16 )
2
70
(18 )
n
(16 )
(1 8 )
(18 )
62
(18 )
(18 )
(18 )
(18)
(18 )
(18 )
H
-16
-58
n
0
0
H
H
(18 )
(18 )
(IS)
496
(18 )
n
H
-56
63
64
65
1817,404
H
45
n
235
n.a.
n
,81,419
18-3,502
69
-370
-1,599
n .a .
70
61,152
16,930
20,578
71
-66,063
863
-65,201
9,355
-16,218
-72,064
-15,351
327
-15,024
2,847
-4,200
-16,378
-16,709
522
-16,187
3,170
-3,356
-16,373
72
73
74
75
76
77
(16 )
-678
n.a.
(18 )
66
67
68
58
U.S. International Transactions
January 2009
Table 12. U.S. International
[Millions
Middle East
(Credits +; debits - ) 1
Line
Africa
2008
2007
2008
2007
111"
II'
II r
III p
Current account
1 Exports of goods and services and income receipts.............................................................
2 Exports of goods and services.................................................................................................
3
Goods, balance of payments basis 2....................................................................................
4
Services 3............................................................................................................................
5
Transfers under U.S. military agency sales contracts4
6
Travel..................................................................
7
8
9
10
11
12
Passenger fares.................................................
Other transportation...........................................
Royalties and license fees 5................................
Other private services 5......................................
U.S. government miscellaneous services........................................................................
73,572
21,694
23,184
41,351
12,312
13,397
63,093
18,487
33,628
9,604
43,646
13,104
20,005
14,227
22,966
6,708
10,986
7,867
19,447
5,267
5,383
1,158
5,777
1,107
10,662
1,292
3,119
2,432
326
2,403
748
116
826
1,033
118
781
1,397
267
1,185
2,896
208
475
115
349
838
243
2,274
19
251
2,467
951
5,482
88
225
1,507
17
234
1,645
20
3,207
3,181
2,618
553
7,723
7,647
6,030
1,429
188
76
2,708
2,411
2,391
1,898
438
55
-99,787
8,111
70
Income receipts.......................................................................................................................
Income receipts on U.S.-owned assets abroad....................................................................
Direct investment receipts.
Other private receipts.......
U.S. government receipts..
Compensation of employees.
10,479
10,379
7,437
2,857
85
100
26
3,179
3,153
2,573
565
15
26
18 Imports of goods and services and income payments..........................................................
-110,505
-37,905
-42,304
13
14
15
16
1/
19
2,192
481
15
556
104
359
20
20
20
-35,618
-34,767
-96,725
-35,440
-39,164
-97,822
-35,108
-34,287
Goods, balance of payments basis 2
-77,405
-30,038
-33,697
-92,005
-33,398
-32,575
Services 3............................................................................................................................
Direct defense expenditures.............................................................................................
-19,321
-13,031
-5,402
-3,364
-5,468
-3,440
-5,817
-360
-1,710
-1,712
-110
-112
23
24
2b
Travel...............................................................................................................................
Passenger fares...............................................................................................................
Other transportation.........................................................................................................
-1,657
-757
-1,241
-544
-309
-381
-534
-266
-410
-2,240
-293
-445
-702
-109
-149
-685
-87
-149
26
27
28
Royalties and license fees 5.........
Other private services 5................
U.S. government miscellaneous services
-211
-44
-694
-65
-45
-708
-65
-29
-2,193
-257
-8
-8
-2,193
-230
-574
-58
-600
-71
-1,965
-1,874
-25
-1,019
-830
-92
-510
-493
-215
-267
-17
-479
-467
-9
-194
-264
-13
20
21
22
29
30
31
32
33
34
Imports of goods and services..
10
2,688
202
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.
-13,780
-13,720
-563
-6,228
-6,929
-60
-2,466
-2,454
645
-1,502
-1,597
-11
-3,139
-3,130
-96
-1,641
-1,393
-9
35 Unilateral current transfers, net.
36
U.S. government grants 4.........
3/
U.S. government pensions and other transfers
38
Private remittances and other transfers 6.................................................................................
-12,044
-9,496
-134
-2,414
-2,057
-1,648
-47
-362
-2,093
-1,656
-47
-390
-8,882
-4,953
-48
-3,881
-2,284
-1,165
-2,482
-1,251
-8
- 1,111
-1,223
-345
-90
-91
-80
-15
-12
-13,274
1,812
3,796
-6,746
-2,421
14,876
0
0
0
0
0
0
0
0
0
0
0
0
125
-50
173
65
21
-8
-5
38
126
-250
398
-65
-58
20
55
-99
152
-27
-2,356
1,428
-920
14,821
-998
1,799
-11
-8
Capital account
39 Capital account transactions, net.............................................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-))
41
42
43
44
45
U.S. official reserve assets
Gold 7........................
Special drawing rights
46
47
48
49
50
51
52
53
54
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 8 ..................................................
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, not included elsewhere...............................................
55 Foreign-owned assets in the United States, excluding financial derivatives (increase/
financial inflow (+)).................................................................................................................
-12
-22
-13,400
-3,683
1,773
-892
-10,598
60
13
1,747
-960
2,028
-41
720
3,775
-1,045
2,198
-706
3,328
-6,872
-2,003
1,094
-169
-5,794
2
2
-111
86
-2,753
13,934
38,650
21,359
16,318
15,310
9,836
-16,146
56
57
58
59
60
61
62
Foreign official assets in the United States..............................................................................
U.S. government securities..................................................................................................
U.S. Treasury securities 9.................................................................................................
O ther 10...........................................................................................................................
Other U.S. government liabilities 11......................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere.............................................
Other foreign official assets 12..............................................................................................
18,573
10,903
13,001
6,976
3,688
2,500
C7)
11
(,7)
(,7)
(17)
1,030
(,7)
(”)
(")
(,7)
63
64
65
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, not included elsewhere............................................
10,456
1,151
70 Financial derivatives, net..........................................................................................................
20,077
3,149
V1)
10,027
n.a.
n
508
(19)
71 Statistical discrepancy (sum of above items with sign reversed)14.....................................
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 35)......................................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 ),3................................
66
67
68
69
72
73
74
75
76
77
See the footnotes on pages xx-xx.
V7)
V7)
(")
4,693
n.a.
(,7)
(’7)
H
C7)
142
n
n
3,317
-125
(17)
816
n.a.
r 7)
(")
(17)
(17)
V7)
V7)
n
(")
(")
V7)
V7)
-647
8,334
-675
(”)
-839
n.a.
(,7)
36
6,148
-118
V7)
-421
n.a.
(")
(”)
n
V7)
63
(”)
(,7)
-18,646
24
(")
-2,179
n.a.
(")
2,773
320
7,705
4,540
-16,557
n
1,189
-267
35
n.a.
23,946
n
-4,813
59,102
18,155
25,134
-33,759
126
-33,632
-3,301
-12,044
-48,977
-16,934
-18
-16,953
741
-2,057
-18,268
-19,469
310
-19,160
40
-2,093
- 21,212
-69,039
4,845
-64,194
5,758
-8,882
-67,318
-26,690
1,186
-25,503
2,198
-2,284
-25,589
-24,708
1,407
-23,301
1,932
-2,482
-23,852
January 2009
Su r v ey
of
59
C u r r e n t B u sin ess
Transactions, by Area—Table Ends
of dollars]
South Africa
Other Africa
2008
International organizations and unallocated 20
2008
2008
2007
2007
II '
Line
2007
I II»
III ”
II r
II '
III >>
9,367
2,437
2,720
31,984
9,875
10,677
51,414
14,059
13,973
7,630
2,068
2,319
25,999
7,536
8,667
4,269
1,283
1,239
5,500
1,521
1,739
17,466
5,187
6,128
0
0
0
2,130
1
547
(*)
106
8,533
1,291
4,269
110
1,283
32
1,239
42
1,051
235
994
2,349
207
369
107
282
2,539
0
0
0
0
0
0
67
580
(*)
111
15
67
1,558
543
561
539
1,017
4
140
224
1
145
240
1
412
4,465
84
85
1,283
16
O
2,598
1,737
1,729
835
883
369
367
105
257
5
402
400
119
281
5,986
5,918
5,195
546
177
2,339
2,321
2,087
224
(*)
708
(*)
12,776
12,374
4,811
7,539
24
402
n
635
(*)
12,734
12,356
4,804
7,522
30
378
346
32
191
8
202
445
89
291
88
1,405
19
2
3
4
5
6
7
8
9
10
11
12
2
0
2
68
18
2,009
1,992
1,780
157
55
18
-10,727
-3,096
-3,332
-89,060
-31,435
-17,463
-4,284
-5,253
18
-10,527
-3,023
-3,279
-87,295
-32,522
-32,084
-31,008
-4,636
-1,047
-1,965
19
-9,047
-2,650
-2,831
-82,958
-30,747
-29,744
0
0
0
-1,481
-5
-373
-448
-1,264
-110
-1,047
-1,965
-2
-1,337
-108
-4,636
-2
-4,337
-355
-541
-163
-127
-48
-29
-192
-51
-29
-1,699
-130
-359
-575
-61
-493
-36
0
0
0
0
0
0
0
0
0
20
21
22
-121
-120
-4,554
-1,013
-1,034
23
24
25
-4
-149
-14
-4
-156
-14
-8
-1,584
-4
-445
-57
-53
-18
-9
-19
-201
-3
-424
-44
-11
-6
-903
-19
-9
26
27
28
-73
-70
-52
-50
-6
-1
-34
-30
-33
-16
-1,765
-1,684
(D)
-875
(D)
-82
-437
-423
-5
-181
-237
-15
-427
-416
-7
-161
-248
-12,827
-12,827
-4,703
-7,493
-631
-3,237
-3,237
-1,080
-2,015
-142
-3,288
-3,288
-1,067
-2,084
-137
-10
0
0
0
29
30
31
32
33
34
-2,074
-1,107
-2,279
-1,223
-6
-6
-961
-1,050
-27,151
-5,379
-3,022
-18,750
-7,521
-936
-899
-5,686
-7,242
-1,264
-420
-5,558
35
36
37
38
11
8
-86
-20
-609
-56
-200
-190
(D)
-144
(D)
-10
-718
-155
-2
-2
-210
-58
-202
-28
10
47,145
45,569
19,484
25,927
158
1,576
1
2
13
14
15
16
17
-8
-2
-2
-555
-150
-172
-8,164
-4,798
-40
-3,326
-4
-1
-1
-76
-14
-11
1
(*)
-2,418
-188
-961
-4,328
-2,233
15,837
-14,997
-3,795
-4,677
40
0
0
0
0
0
0
0
0
0
0
0
0
867
-977
226
0
0
-154
0
-22
1,021
-955
-30
256
41
42
43
44
45
-1,246
-1,337
-974
-974
-4
-24
n
39
-2
0
0
-2
2
0
0
2
1
0
0
1
128
-250
398
-67
-58
20
54
-99
152
-20
1
91
0
0
0
20
-2,416
-722
-1,731
-29
-962
90
-502
4
-554
-4,456
-1,281
2,825
-140
-5,860
15,783
-1,088
2,301
82
14,488
-14,618
-19,484
3,699
-146
1,313
-1,844
-4,811
-1491
66
-190
-3
-251
-52
116
-29
-2,166
1,431
-669
-59
-2,869
46
47
48
49
4,480
-4,899
-4,804
415
203
-713
50
51
52
53
54
265
-1,549
-1,235
15,044
11,385
-14,911
-3,265
-292
6,866
55
n
n
p)
n
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
62
280
0
0
0
0
0
0
0
0
0
-647
P)
P)
P)
P)
273
63
273
62
280
n
n
P)
P)
P)
0
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
P)
0
0
0
0
0
0
56
57
58
59
60
61
62
-3,538
4,703
(18)
-354
1,080
(18)
6,586
1,067
(18)
63
64
65
-2,307
n.a.
(18)
483
-10,675
118
230
160
5,845
67
2
-1
0
68
18-12,640
181,949
,8—1,781
18-486
69
0
0
n
-447
147
P)
P)
-144
n.a.
18
18838
150
n.a.
-15
18—1,831
36
51
-229
-265
P)
P)
P)
128
n.a.
-695
n.a.
-571
n.a.
0
18- 1,414
P)
P)
1816,615
1812,185
-27
(18)
0
-22
66
P)
P)
P)
-267
35
n.a.
651
-247
n.a.
70
4,235
2,607
3,011
54,867
15,548
22,123
10,811
2,079
-3,668
71
-3,547
649
-2,898
1,537
-718
-2,078
-1,129
174
-955
296
-1,092
132
-961
349
-65,492
4,196
-61,296
4,220
-8,164
-65,240
-25,561
-23,616
1,275
-22,341
1,583
-2,279
-23,038
0
0
0
-24,549
1,902
-2,074
-24,721
-368
-368
34,318
-27,151
6,800
236
236
9,539
-7,521
2,254
-726
-726
9,446
-7,242
1,479
72
73
74
75
76
77
-210
-202
-869
-814
1,012
60
U.S. International Transactions
January 2009
Footnotes to U.S. International Transactions Tables 1-12
General notes for all tables: p Preliminary. r Revised. 0 Transactions are
possible, bu t are zero for a given period. (* ) Transactions are less than
$ 5 0 0 ,0 0 0 (± ). D Suppressed to avoid disclosure o f data o f individual co m p a
nies. n.a. Transactions are possible, but data are n o t available...............N ot
applicable, or for data periods 1 9 6 0 -1 9 9 7 , transactions th at are 0, “n o t avail
able,” o r “n o t applicable.” Q uarterly estim ates are n o t annualized and are
expressed at quarterly rates.
Table 1:
1. Credits, + : Exp orts o f goods and services and incom e receipts; unilateral
cu rren t transfers to the United States; capital acco u n t transactions receipts;
financial inflows— increase in foreign-ow ned assets (U.S. liabilities) or
decrease in U .S.-ow n ed assets (U.S. claim s).
Debits,
Im p orts o f goods and services and incom e paym ents; unilateral
cu rren t transfers to foreigners; capital acco u n t transactions paym ents; finan
cial outflows— decrease in foreign-ow ned assets (U.S. liabilities) or increase in
U.S.-ow ned assets (U .S. claim s).
2. Excludes exports o f goods under U.S. m ilitary agency sales con tracts
identified in Census e xp o rt docu m en ts, excludes im ports o f goods under
direct defense expenditures identified in Census im p o rt docu m en ts, and
reflects various other adjustm ents (for valuation, coverage, and tim ing) o f
Census statistics to balance o f paym ents basis; see table 2.
3. Includes som e goods: M ainly m ilitary equipm ent in line 5; m ajor equip
m ent, other m aterials, supplies, and petroleum prod ucts purchased abroad by
U.S. m ilitary agencies in line 2 2 ; and fuels pu rchased by airline and steam ship
operators in lines 8 and 25.
4. Includes transfers o f goods and services under U.S. m ilitary grant p ro
gram s.
5. Beginning in 1982, these lines are presented on a gross basis. The defini
tion o f exports is revised to exclude U.S. parents’ paym ents to foreign affiliates
and to include U.S. affiliates’ receipts from foreign parents. The definition o f
im ports is revised to include U.S. parents’ paym ents to foreign affiliates and to
exclude U.S. affiliates’ receipts from foreign parents.
6. Beginning in 1 9 82, the “other transfers” com p on en t includes taxes paid
by U.S. private residents to foreign governm ents and taxes paid by private
nonresidents to the U.S. Governm ent.
7. At the present tim e, all U.S. Treasury-ow ned gold is held in the United
States.
8. Includes sales o f foreign obligations to foreigners.
9. Consists o f bills, certificates, m arketable bonds and notes, and n o n m arketable convertible and nonconvertible bonds and notes.
10. Consists o f U.S. Treasury and E x p o rt-lm p o rt Bank obligations, not
included elsewhere, and o f debt securities o f U.S. G overnm ent corporations
and agencies.
11. Includes, prim arily, U.S. G overnm ent liabilities associated with m ili
tary agency sales con tracts and oth er transactions arranged with o r through
foreign official agencies; see table 6.
12. Consists o f investm ents in U.S. corp orate stocks and in debt securities
o f private corporations and state and local governm ents.
13. Conceptually, the sum o f line 77 and line 39 is equal to “net lending or
net borrow ing” in the national in com e and p rod u ct accoun ts (N IPA s). H ow
ever, the foreign transactions acco u n t in the NIPAs (a) includes adjustm ents
to the international transactions accoun ts for the treatm ent o f gold, (b)
includes adjustm ents for the different geographical treatm en t o f transactions
with U.S. territories and Puerto Rico, and (c ) includes services furnished w ith
ou t paym ent by financial pension plans except life insurance carriers and p ri
vate noninsured pension plans. A reconciliation o f the balance on goods and
services from the international accoun ts and the NIPA net exports appears in
reconciliation table 2 in appendix A in this issue o f the Survey o f C urrent B usi
ness . A reconciliation o f the other foreign transactions in the two sets o f
accounts appears in table 4 .3 B o f the full set o f NIPA tables.
Additional footnotes for historical data in July issues o f the Survey :
14. Fo r 1974, includes extraord in ary U.S. G overnm ent transactions with
India. See “Special U.S. G overnm ent Transactions,” June 1974 Survey, p. 27.
15. Fo r 1 9 7 8 -8 3 , includes foreign curren cy-den om inated notes sold to p ri
vate residents abroad.
16. Break in series. See Technical Notes in the June 1 9 8 9 -9 0 , 1 9 9 2 -9 5 , and
July 1 9 9 6 -2 0 0 8 issues o f the Survey .
Table 2:
cal Notes in the D ecem ber 1985 S u rvey ). Seasonally adjusted data reflect the
application o f seasonal factors developed jointly by Census and BEA. The sea
sonally adjusted data are the sum o f seasonally adjusted five-digit end-use
categories (see technical Notes in the June 1980 S urvey , in the June 1988 S ur
vey , and in the June 1991 Su rvey ). P rio r to 1983, annual data are as published
by the Census Bureau, except th at for 1 9 7 5 -8 0 published Census data are
adjusted to include trade between the U .S . Virgin Islands and foreign co u n
tries.
2. Adjustm ents in lines A5 and A 13, B 24, B 83, and B 142 reflect the Census
B ureau’s reconciliation o f discrepancies between the goods statistics published
by the United States and the cou n terp art statistics published in Canada. These
adjustm ents are distributed to the affected end-use categories in section C.
Beginning in 1986, estim ates for undocu m en ted exports to Canada, the largest
item in the U .S.-C anadian reconciliation, are included in Census basis data
shown in line A l.
3. Exp orts o f m ilitary equipm ent under U.S. m ilitary agency sales c o n
tracts with foreign governm ents (line A 6 ), and direct im ports by the D ep art
m ent o f Defense and the C oast Guard (line A 1 4 ), to the extent such trade is
identifiable from C ustom s declarations. The exports are included in tables 1
and 12, line 5 (transfers under U.S. m ilitary agency sales con tracts); the
im ports are included in tables 1 and 12, line 22 (d irect defense expenditures).
4. Addition o f electric energy; deduction o f exposed m otio n picture film
for rental rather than sale; net change in stock o f U .S.-ow ned grains in storage
in Canada; coverage adjustm ents for special situations in which shipm ents
were om itted from Census data; deduction o f the value o f repairs and alter
ations to foreign-ow ned equipm ent shipped to the United States for repair;
and the inclusion o f fish exported outside o f U.S. custom s area. Also includes
deduction o f exports to the Panam a Canal Z one before O ctober 1, 1979, and
for 1 9 7 5 -8 2 , net tim ing adjustm ents for goods recorded in Census data in one
period but found to have been shipped in an o th er (see July issues o f the S urvey
for historical data).
5. Coverage adjustm ents for special situations in which shipm ents were
om itted from Census data; the deduction o f the value o f repairs and alter
ations to U .S.-ow ned equipm ent shipped abroad for repair; and the adjust
m ent o f software im ports to m arket value. Also includes addition o f
understatem ent o f inland freight in f.a.s. values o f U.S. im ports o f goods from
C anada in 1 9 7 4 -8 1 ; deduction o f im ports from the P an am a C anal Zone
before O ctober 1, 1979; and for 1 9 7 5 -8 2 , net tim ing adjustm ents for goods
recorded in Census data in one period bu t found to have been shipped in
another (see July issues o f the Survey for historical data).
6. For 1 9 8 8 -8 9 , correctio n for the understatem ent o f cru de petroleum
im ports from Canada.
7. A nnual and unadjusted quarterly data shown in this table correspond to
cou n try and area data in table 12, lines 3 and 20. Trade with international
organizations includes purchases o f n o n m on etary gold from the International
M on etary Fund, transfers o f tin to the International Tin C ouncil (IT C ), and
sales o f satellites to Intelsat. The m em oran d a are defined as follows: M em bers
o f O P EC : Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Q atar, Saudi
Arabia, United Arab Em irates, Venezuela, beginning with the first quarter of
2 0 0 7 , Angola, and beginning w ith the fourth quarter o f 2 0 0 7 , Ecuador.
Table 3:
1. Royalties and license fees and “other private services” by detailed type o f
service include both affiliated and unaffiliated transactions.
2. Includes royalties, license fees, and other fees associated with intangible
assets, including patents, trade secre ;, and other p rop rietary rights, that are
used in conn ection with the prod ucti n o f goods.
3. Includes royalties, license fees, and other fees associated with copyrights,
tradem arks, franchises, rights to broadcast live events, software licensing fees,
and other intellectual p rop erty rights.
4. O ther unaffiliated services receipts (exp orts) include m ainly film and
television tape rentals and expenditures o f foreign residents tem porarily
working in the United States. Paym ents (im p orts) include m ainly expendi
tures o f U.S. residents tem porarily working abroad and film and television
tape rentals.
5. These reflect the am oun t o f prem ium s explicitly charged by, or paid to,
insurers and reinsurers.
Table 4:
No footnotes.
Table 5:
1.
E xp orts, Census basis, represent transactions values, f.a.s. U.S. p o rt o f
exportation , for all years; im ports, Census basis, represent Custom s values
1. C om plete instru m en t detail is only available beginning with 2 003.
(see Technical Notes in the June 1982 S urvey ), except for 1 9 7 4 -8 1 , when they
2. Prio r to 2 0 0 3 , includes only dem and deposits and nonnegotiable tim e
represent transactions values, f.a.s. foreign p o rt o f exportation (see July issues
and savings deposits.
o f the Survey for historical d ata). From 1983 forw ard, both unadjusted and
Table 6:
seasonally adjusted data have been prepared by BEA from “actu al” and
1.
Expenditures to release foreign governm ents from their con tractu al lia
“revised statistical” m onthly data supplied by the Census Bureau (see Techni
bilities to pay for m ilitary goods and services purchased th rough m ilitary sales
January 2009
Su r v e y
of
C u r r e n t B u sin ess
con tracts— first authorized (for Israel) under Public Law 9 3 - 1 9 9 , section
4, and subsequently authorized (for m any recipients) under sim ilar legisla
tion— are included in line A 4. Deliveries against these m ilitary sales contracts
are included in line CIO; see footn ote 2. O f the line A 4 item s, part o f these
m ilitary expenditures is applied in lines A 43 and A 46 to reduce sh ort-term
assets previously record ed in lines A41 and C 8; this application o f funds is
excluded from lines C3 and C 4. A second p a rt o f line A 4 expenditures finances
future deliveries under m ilitary sales contracts for the recipient countries and
is applied directly to lines A 42 and C 9. A third p art o f line A 4, disbursed
directly to finance purchases by recipient countries from com m ercial suppliers
in the United States, is included in line A 37. A fourth p a rt o f line A 4, repre
senting dollars paid to the recipient countries to finance purchases from co u n
tries other than the U nited States, is included in line A 48.
2. Transactions under m ilitary sales con tracts are those in which the
D ep artm en t o f Defense sells and transfers m ilitary goods and services to a for
eign purchaser, on a cash or credit basis. Purchases by foreigners directly from
com m ercial suppliers are n o t included as transactions under m ilitary sales
contracts. T he entries for the several categories o f transactions related to m ili
tary sales con tracts in this and other tables are partly estim ated from in co m
plete data.
3. The identification o f transactions involving direct dollar outflows from
the U nited States is m ade in reports by each operating agency.
4. Line A 38 includes foreign curren cy collected as interest and line A43
includes foreign cu rren cy collected as principal, as recorded in lines A 16 and
A 17, respectively.
5. Includes (a) advance paym ents to the D ep artm en t o f Defense (o n m ili
tary sales co n tracts) financed by loans extended to foreigners by U.S. G overn
m ent agencies and (b) the co n tra -e n try for the p a rt o f line CIO th at was
delivered w ithout prepaym ent by the foreign purchaser. Also includes expen
ditures o f app ropriations available to release foreign purchasers from liability
to make repaym ent.
6. Includes purchases o f loans from U.S. banks and exporters and pay
m ents by the U.S. G overnm ent under com m ercial e xp o rt credit and invest
m ent guarantee program s.
7. Excludes liabilities associated with m ilitary sales con tracts financed by
U.S. G overnm ent grants and credits and included in line C 2.
8. Excludes transactions o f the U.S. En rich m en t C orp oration since it
becam e a n o n-governm ent entity in July 1998.
9. Beginning in the fourth quarter o f 2 0 0 7 , includes drawings and repay
m ents under tem p o rary reciprocal curren cy arrangem ents between the U.S.
Federal Reserve System and foreign central banks th at do n o t m eet the strict
definition o f U.S. reserve assets.
Table 7:
1. Fo r bank affiliates, includes only interest on perm anent debt investm ent
by their p arent com panies. Excludes interest between financial parent co m p a
nies and nonbank financial affiliates.
2. For bank affiliates, includes only perm anent debt investm ent by their
parent com panies. Excludes intercom pany debt between financial parent
com panies and nonbank financial affiliates.
Table 8:
1. Beginning with 2 0 0 5 , source data for new issue estim ates are no longer
separately available. New issues continue to be included in net purchases.
2. Baham as, B erm uda, British W est Indies (C aym an Islands), and N ether
lands Antilles.
Table 9:
1. P rior to 2 0 0 3 , securities brokers’ claim s on and liabilities to their for
eign affiliates are included in the estim ates. T hey are excluded beginning in
20 0 3 .
2. C om plete in stru m en t detail is only available beginning with 2 003.
3. Financial interm ediaries’ accounts are show n under “other claim s (lia
bilities)” because the m ajority o f these claim s (liabilities) are in the form o f
in tercom p any balances. Financial interm ediaries’ accoun ts represent tran sac
tions between firm s in a direct investm ent relationship (that is, between U.S.
parents and their foreign affiliates or between U.S. affiliates and their foreign
parent grou ps), where both the U.S. and foreign firms are classified in a
finance industry, b u t the firm s are neither banks n o r securities brokers.
4. B aham as, Berm uda, British W est Indies (C aym an Islands), and N ether
lands Antilles.
Table 10:
1. Beginning with 2 0 0 3 , includes securities brokers’ claims on their foreign
affiliates.
2. C om plete in stru m en t detail is only available beginning with 2003.
3. Includes foreign official agencies and international and regional organ i
61
zations. Prio r to 2 0 0 3 , also includes governm ent-ow ned corporations and
state, provincial, and local governm ents and their agencies.
4. U .S.-ow ned banks include U .S.-chartered banks, Edge A ct subsidiaries,
and U.S. bank holding com panies. Foreign-ow ned banks include U.S.
branches and agencies o f foreign banks and m ajority-ow ned bank subsidiaries
in the U nited States. Brokers and dealers m ay be U .S.-ow ned o r foreignowned.
5. C om m ercial paper issued in the U.S. m arket by foreign in corp orated
entities and held in U.S. custom ers’ accounts. Excludes com m ercial paper
issued through foreign direct investm ent affiliates in the U nited States.
6. Prio r to 2 0 0 3 , includes negotiable certificates o f deposit and other nego
tiable and transferable instrum ents.
7. Prio r to 2 0 0 3 , includes only deposits.
8. Baham as, Berm uda, British W est Indies (C aym an Islands), and N ether
lands Antilles.
T a b le ll:
1. Beginning with 2 0 0 3 , includes securities brokers’ liabilities to their for
eign affiliates.
2. C om plete in stru m en t detail is only available beginning with 2 003.
3. U .S.-ow ned banks include U .S.-chartered banks, Edge A ct subsidiaries,
and U.S. bank holding com panies. Foreign-ow ned banks include U.S.
branches and agencies o f foreign banks and m ajority-ow ned bank subsidiaries
in the U nited States. Brokers and dealers m ay be U .S.-ow ned o r foreignowned.
4. B aham as, B erm uda, British W est Indies (C aym an Islands), and N ether
lands Antilles.
Table 12:
Fo r footnotes 1 -1 3 , see table 1.
14. At the global level, the statistical discrepancy represents net errors and
om issions in recorded transactions. For individual countries and regions, it
m ay also reflect discrepancies that arise when transactions with one cou n try
or region are settled th rough transactions with another co u n try or region.
15. The “European U nion” includes Belgium , D enm ark, France, G erm any
(includes the form er G erm an D em ocratic Republic (E ast G erm any) begin
ning in the fourth quarter o f 1 9 9 0 ), Greece, Ireland, Italy, Luxem bourg, N eth
erlands, Portugal, Spain, and the United K ingdom ; beginning with the first
quarter o f 1995, also includes Austria, Finland, and Sweden; beginning with
the second quarter o f 2 0 0 4 , also includes C yprus, Czech Republic, Estonia,
H ungary, Latvia, Lithuania, M alta, Poland, Slovakia, and Slovenia; and begin
ning with the first quarter o f 2 0 0 7 , also includes Bulgaria and R om ania. The
“European U nion” also includes the European A tom ic Energy C om m unity,
the European C oal and Steel C om m u n ity (through the third quarter o f 2 0 0 2 ),
and the European Investm ent Bank.
16. T he “Euro area” includes A ustria, Belgium , Finland, France, Germany,
Ireland, Italy, Luxem bourg, N etherlands, Portugal, and Spain; beginning with
the first quarter o f 2 0 0 1 , also includes Greece; beginning w ith the first qu arter
o f 2 0 0 7 , also includes Slovenia; and beginning with the first quarter o f 2 0 0 8 ,
also includes Cyprus and M alta.
17. Details n o t show n separately; see totals in lines 56 and 63.
18. Details n o t show n separately are included in line 69.
19. Estim ates o f financial derivatives for several countries are n o t available
separately. Estim ates for Luxem bourg are included in O ther Euro area. Esti
m ates for Argentina, Brazil, M exico, and Venezuela are included in O ther
South and C entral A m erica. Estim ates for China, H ong Kong, India, Korea,
Singapore, and Taiwan are included in O ther Asia and Pacific. Estim ates for
South Africa are included in O ther Africa. In addition, estim ates for the M id
dle East are com bined with estim ates for Asia and Pacific and included in
O ther Asia and Pacific.
20. Includes, as p art o f international and unallocated, taxes withheld; c u r
ren t-co st adjustm ents associated with U.S. and foreign direct investm ent; and
net U.S. curren cy flows. Before 1999, also includes the estim ated direct invest
m ent in foreign affiliates engaged in international shipping, in operating oil
and gas drilling equipm ent internationally, and in petroleum trading. Before
1996, also includes small transactions in business services th at are not
reported by country.
N ote . C ou n try data are based on inform ation available from U.S. re p o rt
ing sources. In som e instances, the statistics m ay n o t necessarily reflect the
ultim ate foreign transactor. For instance: U.S. goods exp o rt statistics reflect
cou n try o f reported destination; in m any cases the goods m ay be transshipped
to third countries (especially true for the N etherlands and G erm any). The
geographic breakdown o f securities transactions reflects the cou n try with
which transactions occu rred but m ay n o t necessarily reflect the ultim ate
sources o f foreign funds or ultim ate destination o f U.S. funds.
62
January 2009
An Ownership-Based Framework of the U.S. Current Account, 1998-2007
The Bureau of Economic Analysis (BEA) annually
updates its supplemental, ownership-based framework of
the current-account portion of the U.S. international
transactions accounts. This report presents new sum
mary statistics of the major current-account aggregates
for 2007, more detailed statistics for 2006, and revised
statistics for 2002-2005.1 A technical note that presents
information on the conceptual basis of the ownershipbased framework follows the highlights of this presenta
tion.2
The following are highlights of the updated statistics:
• Net receipts by U.S. parents of direct investment
income from the sales by their foreign affiliates were
$368.3 billion in 2007, up from $328.5 billion in 2006
(table 1). Net payments to foreign parents of direct
investment income from the sales by their U.S. affili
ates were $134.4 billion in 2007, down from $144.4
billion in 2006.
• In 2006 (the latest year for which the detailed statistics
are available), the net receipts of $328.5 billion con
sisted of $329.1 billion from nonbank foreign affiliates
and -$0.5 billion from bank foreign affiliates. For the
parents of nonbank affiliates, the net receipts resulted
from sales by foreign affiliates of $4,731.4 billion less
deductions of $4,402.3 billion (such as for labor, capi
tal, and purchased inputs).3 The net payments of
$144.4 billion consisted of $136.2 billion by nonbank
U.S. affiliates and $8.2 billion by bank U.S. affiliates.
For nonbank U.S. affiliates, the net payments resulted
from sales of $3,083.4 billion less deductions of
$2,947.3 billion.
• In 2007, receipts from exports of goods and services or
sales by foreign affiliates were $2,014.0 billion, which
consisted of U.S. exports of goods and services of
$1,645.7 billion and net income receipts of U.S. par
ents from the sales by their foreign affiliates of $368.3
billion. Payments from imports of goods and services
or sales by U.S. affiliates were $2,480.4 billion, which
consisted of U.S. imports of goods and services of
1. The estimates for 1 9 8 2 -2 0 0 7 are available on BEA’s Web site at
www.bea.gov. Under “International,” click on “Operations of Multinational
Companies,” and then look under “Supplemental Estimates” for “Owner
ship-Based Framework of the U.S. Current Account.”
2. F o r additional in fo rm atio n on the sources and m eth o d s used to p re
p are the supplem ental estim ates, see O bie G. W h ich ard and Jeffrey H.
Lowe, “An O w nership -B ased D isaggregation o f the U.S. C u rren t A cco u n t,
19 82-93,” Survey o f C urrent B usiness 75 (O cto b er 1995): 5 2 -6 1 . F o r a gen
eral review o f the issues relating to ow nership relationships in international
tran sactio n s, see J. Steven Landefeld, O bie G. W h ich ard , and Jeffrey H.
Lowe, “Alternative Fram ew orks for U.S. International Transactions,” Survey
73 (D ecem b er 1993): 5 0 -6 1 .
3. These detailed statistics can only be provided for nonbank affiliates for
2006 back. Beginning with 2007, these statistics will fully incorporate data
for bank affiliates.
Jeffrey H. Lowe prepared this report.
$2,346.0 billion and net income payments to foreign
parents from the sales by their U.S. affiliates of $134.4
billion.
• The resulting U.S. deficit on goods, services, and net
receipts from sales by affiliates was $466.4 billion in
2007 ($2,014.0 billion minus $2,480.4 billion). This
deficit was $233.9 billion less than the $700.3 billion
deficit on trade in goods and services in the conven
tional international accounts framework. The owner
ship-based deficit was smaller because the receipts of
income by U.S. parents from sales by their foreign
affiliates exceeded the payments of income to foreign
parents from sales by their U.S. affiliates.
• The $466.4 billion deficit on goods, services, and net
receipts from sales by affiliates in 2007 was $102.7 bil
lion less than the deficit in 2006. This was the first
decline in the deficit since 2001. The 2007 decrease
resulted from a $53.0 billion decrease in the deficit on
trade in goods and services and a $49.7 billion increase
in the surplus of net receipts from sales by affiliates.
The updated statistics incorporate the results of the
2008 annual revision of the U.S. international transac
tions accounts that features improved estimating meth
odologies, the incorporation of newly available source
data, and changes in presentation in the tables.4 As part of
the annual revision, services receipts and payments were
revised for 2006-2007 to incorporate the results of BEA’s
benchmark survey of international services for 2006 and
the new follow-on quarterly surveys of international ser
vices for 2007. Services receipts and payments were also
revised for 2004-2005 to incorporate updated source
data. In addition, the 2006—2007 statistics on U.S. hold
ings of, and transactions in, foreign securities and related
dividend and interest receipts were improved as a result
of the incorporation of the results of the U.S. Treasury
Department’s recent benchmark survey of securities
claims. These accounts were also revised for 2002-2005
to adjust the results from earlier annual surveys. Simi
larly, the 2006-2007 statistics on foreign holdings of, and
transactions in, U.S. securities and related dividend and
interest payments were improved as a result of the incor
poration of the results of the U.S. Treasury Department’s
recent annual survey of securities liabilities. Finally, the
statistics also incorporate the preliminary results from
the 2006 annual surveys of U.S. direct investment abroad
and foreign direct investment in the United States, the
final results from the 2005 annual surveys of U.S. direct
investment abroad and of foreign direct investment in the
United States, and the final results of the 2004 benchmark
survey of U.S. direct investment abroad.
4. For more information on these changes and other revisions to the U.S.
international accounts, see Christopher L. Bach, “Annual Revision of the
U.S. International Accounts, 1974-2007,” Survey 88 (July 2008): 3 6 -5 2 .
January 2009
Sur v ey
of
C u r r e n t B u sin ess
63
only for sales originating abroad are most of the costs
Technical Note
The ownership-based framework was developed in the incurred abroad and accrued to the benefit of foreign
early 1990s in response to interest in examining interna economies. This methodology also eliminates the dou
tional transactions in a way that would reflect the increas ble-counting that would occur if both the total value of
ing importance of multinational companies in world the sales by parents to their affiliates and the subsequent
economies and, particularly, the growing tendency of sales by the affiliates to others were included.
Conceptually, the ownership-based framework is fully
these companies to use locally established affiliates to
consistent with the current account in the conventional
deliver goods and services to international markets.5
In the conventionally constructed current account, the international transactions accounts, and it can be viewed
trade balance reflects only the goods and services that are as a “satellite” of those accounts.6 (The current-account
delivered to international markets through cross-border balance is the same in both sets of accounts.) The group
exports and imports. This balance is an important indi ing of the income from affiliates with cross-border trade
cator of U.S. performance in foreign markets; it reflects in goods and services recognizes the active role of parent
the net value of the transactions in goods and services companies in managing and coordinating their affiliates’
between U.S. residents (including companies) and for operations. This direct investment income from affiliates
eign residents. Because in the international accounts, differs fundamentally from income on other types of
affiliates are treated as resident in their countries of loca investments. For example, for U.S. direct investment
tion rather than in the countries of their owners, the sales abroad, direct investment income represents U.S. compa
of goods and services by foreign affiliates of U.S. compa nies’ returns on sales that for reasons such as efficiency,
nies to other foreign residents and by U.S. affiliates of for transportation costs, or the avoidance of trade barriers
eign companies to other U.S. residents are not regarded are made by affiliates in foreign countries rather than by
as exports and imports and are therefore excluded from U.S. parent companies; other investment income repre
sents returns on passive investments, such as on foreign
the trade balance.
stocks
and bonds.7 Indeed, in many cases, a portion of the
In the ownership-based framework, a balance is intro
income
from affiliates may be regarded as a kind of
duced in which net receipts resulting from sales by affili
implicit
management
fee that compensates parent com
ates are combined with cross-border exports and
panies
for
undertaking
active roles in the operations of
imports. Specifically, the net receipts that accrue to U.S.
their
affiliates.
parent companies from the sales by their foreign affiliates
In addition, the most detailed presentation of the
are combined with cross-border sales to foreigners by
framework
provides information on ownership relation
U.S. companies (U.S. exports of goods and services), and
ships
by
disaggregating
the trade in goods and services
the net payments that accrue to foreign parent companies
into
trade
between
affiliated
parties (that is, trade within
from the sales by their U.S. affiliates are combined with
multinational
companies)
and
trade between unaffiliated
cross-border sales to the United States by foreign compa
parties.
It
also
shows
how
receipts
and payments of direct
nies (U.S. imports of goods and services). The difference
investment
income
are
derived
from
the production and
between these receipts and payments is an indicator of
sales
by
affiliates.
To
highlight
the
links between the
the net effect of United States-foreign commerce on the
income
and
the
activities
that
produce
it, the income is
U.S. economy, and it reflects the perspective that both
designated
as
“resulting
from
sales
by
affiliates.”
In the
cross-border trade and sales through affiliates represent
addenda
to
table
1,
the
framework
also
provides
informa
methods of active participation in the international mar
tion on the U.S. content and the foreign content of affili
kets for goods and services.
Only the net receipts that accrue to the U.S. parent ates’ sales and on the extent to which such content results
companies, not the gross value of sales by their foreign from the affiliates’ own value added.
affiliates, are included in these calculations, because
only for sales originating in the United States are most of
the costs— such as for labor, capital, and purchased
6. According to the international System o f National Accounts, satellite
inputs— incurred domestically and accrued to the benefit
accounts augment the central national accounts by “expanding the analyti
of the U.S. economy. Similarly, only the net payments cal capacity of national accounting for selected areas...in a flexible manner,
that accrue to foreign parent companies, not the gross without overburdening or disrupting the central system”; they may intro
value of sales by their U.S. affiliates, are included, because duce additional information, alternative accounting frameworks, or “com
plementary or alternative concepts,” while maintaining links to the central
accounts. See Commission of the European Communities, International
Monetary Fund, Organisation for Econom ic Co-operation and Develop
5.
Among those calling for m ore information on ownership was a
ment, United Nations, and World Bank, System o f National Accounts, 1993
National Academy o f Sciences study panel. See Anne Y. Kester, ed., Behind
(Brussels/Luxembourg, New York, Paris, and Washington, DC, 1993): 489.
the Numbers: U.S. Trade in the World Economy, National Research Council,
7. Direct investment income consists of net receipts of earnings and of
Panel on Foreign Trade Statistics (Washington, DC: National Academy
interest by parents from their affiliates.
Press, 1992).
64
Ownership-Based U.S. Current Account
January 2009
Table 1. Ownership-Based Framework of the U.S. Current Account, 1998-2007
[Billions of dollars]
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007 1
1,259.8
1,421.5
1,295.7
1,255.7
1,338.2
1,574.3
1,819.0
2,142.2
Receipts resulting from exports of goods and services and sales by foreign affiliates......
1,195.0
1,037.1
1,097.5
1,222.4
1,133.6
1,120.3
1,204.2
1,411.2
1,578.3
1,785.6
2,463.5
2,014.0
Exports of goods and services, total (ITA table 1, line 2)...................................................
Goods, balance of payments basis (ITA table 1, line 3 )...................................................
Services (ITA table 1, line 4)
To unaffiliated foreigners
Goods.............
Services..........
To affiliated foreigners
Goods.............
Services..........
To foreign affiliates of U.S. parents...................................................................................
Goods.....................................................................................................................
Services......
To foreign parent groups of U.S. affiliates.........................................................................
Goods.....................................................................................................................
Services..................................................................................................................
933.2
670.4
262.8
645.1
436.5
208.6
288.1
233.9
54.2
218.8
176.3
42.5
69.2
57.6
11.7
965.9
684.0
281.9
675.6
455.2
220.4
290.3
228.8
61.5
218.7
168.9
49.8
71.6
59.9
11.7
1,070.6
772.0
298.6
756.2
523.0
233.2
314.4
248.9
65.4
234.1
182.7
51.4
80.3
1,004.9
718.7
286.2
702.6
482.6
974.7
682.4
292.3
681.8
462.8
219.0
292.9
219.6
73.3
204.9
150.6
54.3
1,160.6
807.5
353.1
820.3
556.8
263.5
340.3
250.7
89.5
238.9
170.6
1,283.8
894.6
389.1
913.4
620.8
292.6
370.3
273.8
96.5
264.7
188.8
75.9
105.6
85.1
1,457.0
1,023.1
433.9
1,050.6
726.8
323.8
406.5
296.3
69.0
19.0
1,017.8
713.4
304.3
707.3
481.5
225.8
310.5
232.0
78.5
215.3
156.6
58.6
95.2
75.3
19.9
11
12
13
14
15
16
Net receipts by U.S. parents of direct investment income resulting from sales by their
foreign affiliates (ITA table 1, line 14)...............................................................................
Nonbank affiliates................................................................................................................
Sales by foreign affiliates..................................................................................................
Less: Foreign affiliates’ purchases of goods and services directly from the United States
Less: Costs and profits accruing to foreign persons.........................................................
Compensation of employees of foreign affiliates
Other.............................................................
Less: Sales by foreign affiliates to other foreign affiliates of the same parent...................
Bank affiliates......................................................................................................................
104.0
103.2
2,370.0
248.9
1,601.2
263.6
1,337.6
416.6
0.7
131.6
130.7
2,611.8
246.3
1,787.3
295.3
1,492.0
447.5
151.8
149.6
2,905.5
260.7
1,989.1
310.8
1,678.4
506.1
2.2
145.6
144.2
2,945.7
232.8
2,038.7
311.4
1,727.3
530.0
1.3
186.4
184.1
3,319.5
242.6
2,246.3
338.1
1,908.2
646.4
2.3
250.6
249.3
3,841.4
264.0
2,548.2
378.6
2,169.6
780.0
1.3
294.5
294.4
4,362.2
293.1
2,837.3
405.0
2,432.3
937.5
1.0
128.7
126.3
2,945.9
249.5
2,055.2
309.7
1,745.6
514.8
2.3
17
18
19
20
Other income receipts................................................
Other private receipts on U.S.-owned assets abroad (ITA table 1, line 15)..............................
U.S. Government receipts (ITA table 1, line 16).......................................................................
Compensation of employees (ITA table 1, line 17).....
157.9
151.8
3.6
2.4
162.3
156.4
3.2
2.7
199.1
192.4
3.8
135.4
129.2
3.3
134.0
126.5
4.7
163.1
157.3
3.0
2.8
162.1
155.7
3.6
2.9
2.8
2.8
21 Imports of goods and services and income payments (ITA table 1, line 18)............................
22
Payments resulting from im ports of goods and services and sales by U.S. affiliates.........
1,356.9
1,511.0
1,780.3
1,629.1
1,652.0
1,137.7
1,284.4
1,507.3
1,382.8
1,099.3
918.6
180.7
710.5
557.1
153.4
388.8
361.5
27.3
168.6
156.4
1,231.0
1,031.8
199.2
798.6
634.9
163.7
432.3
396.8
35.5
184.8
167.0
17.8
247.6
229.9
17.7
1,450.4
1,226.7
223.7
946.0
761.9
184.0
504.5
464.7
39.7
209.9
191.2
18.7
294.6
273.6
1,370.0
1,148.2
21.0
21.8
53.4
50.5
2,044.4
342.7
1,651.2
292.7
1,358.5
n.a.
3.0
56.9
53.3
2,334.7
393.1
1,888.2
332.2
1,556.1
n.a.
3.6
226.6
138.1
80.5
Line
Exports of goods and services and income receipts (ITA table 1, line 1).................................
9
10
23
23a
23b
24
24a
24b
25
25a
25b
26
26a
26b
27
27a
27b
Imports of goods and services, total (ITA table 1, line 19).................................................
Goods, balance of payments basis (ITA table 1, line 20).................................................
Services (ITA table 1, line 21)............................
From unaffiliated foreigners....................................
Goods...........................................................
Services......................................................................................................................
From affiliated foreigners......................................................................................................
Goods.............
Services..........
From foreign affiliates of U.S. parents..............................................................................
Goods.....................................................................................................................
Services..................................................................................................................
From foreign parent groups of U.S. affiliates....................................................................
Goods.....................................................................................................................
Services..................................................................................................................
28
Net payments to foreign parents of direct investment income resulting from sales by
their U.S. affiliates (ITA table 1, line 31)............................................................................
Nonbank affiliates................................................................................................................
Sales by U.S. affiliates......................................................................................................
Less: U.S. affiliates’ purchases of goods and services directly from abroad....................
Less: Costs and profits accruing to U.S. persons............................................................
Compensation of employees of U.S. affiliates..............................................................
Other...........................................................................................................................
Less: Sales by U.S. affiliates to other U.S. affiliates of the same parent 2........................
Bank affiliates......................................................................................................................
29
30
31
32
33
34
35
36
37
38
39
40
12.2
220.2
205.2
15.1
38.4
35.8
1,875.5
307.1
1,532.5
262.1
1,270.4
n.a.
2.6
66.2
14.1
220.0
302.3
236.1
66.2
221.7
170.2
51.5
80.6
65.9
14.7
88.0
68.2
101.4
80.1
21.3
20.6
110.1
289.6
203.4
86.3
116.8
93.0
23.9
368.3
367.9
0.2
328.5
329.1
4,731.4
320.8
3,046.8
426.2
2,620.6
1,034.7
-0.5
356.6
351.3
2.4
2.9
449.5
444.3
2.8
240.7
235.1
2.7
2.9
1,789.8
2,114.8
2,458.2
2,838.3
3,082.0
1,441.7
1,588.4
1,868.1
2,116.7
2,354.7
2,480.4
1,398.4
1,167.4
231.1
894.1
707.6
186.5
504.3
459.8
44.6
1,768.3
1,477.1
291.2
1,166.1
925.6
240.5
602.3
551.5
50.7
241.8
218.8
23.0
360.4
332.7
27.7
1,995.3
1,681.8
313.5
1,322.2
1,066.8
255.4
673.1
615.0
58.2
270.7
245.0
25.7
402.4
370.0
32.4
2,210.3
1,861.4
348.9
1,500.3
1,219.2
281.1
710.0
642.2
67.8
286.6
252.2
34.4
423.4
390.0
33.4
2,346.0
1,967.9
378.1
182.0
19.9
302.4
277.7
24.7
1,514.7
1,264.3
250.4
975.6
771.9
203.7
539.1
492.4
46.6
214.1
192.6
21.5
324.9
299.8
25.2
43.2
41.7
2,216.5
372.8
1,802.1
341.9
1,460.2
n.a.
73.8
71.6
2,323.2
393.3
1,858.2
342.7
1,515.5
n.a.
1.6
2.2
121.3
117.0
2,792.5
495.0
2,180.5
365.5
1,815.0
n.a.
4.4
144.4
136.2
3,083.4
527.2
2,420.1
395.8
2,024.3
n.a.
2.0
99.8
95.1
2,526.3
437.5
1,993.8
351.9
1,641.9
n.a.
4.7
134.4
140.8
2,327.1
369.6
1,946.7
344.7
1,601.9
n.a.
246.3
159.8
78.4
201.4
119.1
73.8
8.5
246.8
155.3
82.5
9.0
341.6
228.4
103.9
9.3
483.6
339.1
135.0
9.5
601.6
426.5
165.1
8.1
210.3
127.0
74.9
8.4
-51.3
-64.9
-71.8
-84.5
-89.8
-92.0
-112.7
-700.3
-466.4
-731.2
221.8
880.5
699.6
180.9
489.5
448.6
40.9
201.3
182.2
19.1
288.3
266.5
12.8
10.8
202.0
8.2
41 Unilateral current transfers, net (ITA table 1, line 35)..................................................................
219.1
128.0
84.2
7.0
-53.2
-50.4
273.0
180.9
84.5
7.5
-58.6
Memoranda:
Balance on goods and services (line 3 minus line 23, and ITA table 1, line 74)...........................
Balance on goods, services, and net receipts from sales by affiliates (line 2 minus line 22)........
Balance on current account (line 1 minus line 21 plus line 41, and ITA table 1, line 77)..............
-166.1
- 100.6
-215.1
-265.1
-186.9
-301.6
-379.8
-284.9
-417.4
-365.1
-249.2
-384.7
-423.7
-321.4
-461.3
-496.9
-384.2
-523.4
-607.7
-456.9
-625.0
-711.6
-538.4
-729.0
-753.3
-569.1
-788.1
Source of the content of foreign nonbank affiliates’ sales and change in inventories:
Sales to nonaffiliates and change in inventories, total (line 10 minus line 15 plus the change in
inventories)..........................................................................................................................
Foreign content...................................................................................................................
Value added by foreign affiliates of U.S. parents..............................................................
Other foreign content 3....................................................................................................
U.S. content.........................................................................................................................
1,959.2
1,710.3
608.5
1,101.8
248.9
2,160.6
1,914.3
666.7
1,247.7
246.3
2,406.8
2,146.1
702.9
1,443.2
260.7
2,424.0
2,174.5
683.4
1,491.1
249.5
2,425.9
2,193.1
704.5
1,488.6
232.8
2,692.3
2,449.7
808.4
1,641.3
242.6
3,092.4
2,828.5
948.9
1,879.6
264.0
3,544.0
3,250.9
1,050.0
2,200.9
293.1
3,650.4
3,329.5
1,142.4
2,187.1
320.8
Source of the content of U.S. nonbank affiliates’ sales and change in inventories : 4
Sales to nonaffiliates and change in inventories, total (line 30 minus line 35 plus the change in
inventories)..........................................................................................................................
U.S. content.........................................................................................................................
Value added by U.S. affiliates of foreign parents..............................................................
Other U.S. content 5........................................................................................................
Foreign content...................................................................................................................
1,887.2
1,580.1
419.8
1,160.3
307.1
2,056.1
1,713.4
457.7
1,255.7
342.7
2,349.9
1,956.7
516.7
1,440.1
393.1
2,318.9
1,949.3
477.0
1,472.3
369.6
2,214.5
1,841.7
502.7
1,339.0
372.8
2,326.1
1,932.7
519.9
1,412.8
393.3
2,543.4
2,105.9
563.5
1,542.4
437.5
2,814.6
2,319.5
611.5
1,708.0
495.0
3,106.4
2,579.2
678.1
1,901.1
527.2
42
43
44
Other income payments............................................................................................................
Other private payments on foreign-owned assets in the United States (ITA table 1, line 32)....
U.S. Government payments (ITA table 1, line 33).....................................................................
Compensation of employees (ITA table 1, line 34)...................................................................
8.0
1,645.7
1,148.5
497.2
0.4
2.2
3.0
n.a.
-6.4
10.0
Addenda:
n.a. Not available
1. The estimates in this column are from the international transactions accounts, which are published quar
terly. Estimates are not yet available for the items from BEA’s 2007 annual survey of U.S. direct investment
abroad and 2007 benchmark survey of foreign direct investment in the United States. The detailed preliminary
estimates for 2007 will be published in the second half of 2009.
2. Conceptually, sales by U.S. affiliates to other U.S. affiliates of the same foreign parent should be
subtracted, but data on these sales are unavailable. However, because U.S. affiliates are generally required to
report to BEA on a fully consolidated basis, most of these sales are eliminated through consolidation, and the
remaining amount is thought to be immaterial.
3. Line 48, other foreign content—which equals purchases from foreign persons by foreign affiliates—is
overstated to the extent that it includes U.S. exports that are embodied in goods and services purchased by
foreign affiliates from foreign suppliers.
4. In principle, the sales exclude the affiliates’ sales to other affiliates of their parent. For U.S. affiliates, data
on sales to other affiliates are unavailable, but these sales are thought to be immaterial. (See footnote 2.)
5. Line 53, other U.S. content—which equals purchases from U.S. persons by U.S. affiliates—is overstated
to the extent that it includes U.S. imports that are embodied in goods and services purchased by U.S. affiliates
from U.S. suppliers.
N o t e . Details may not add to totals because of rounding.
ITA International transactions accounts
65
January 2009
State personal income, 2008:111
Personal income growth in the United States slowed sharply in the third
quarter of 2008; all states except New Jersey and Wyoming shared in the
slowdown, according to statistics released by the U.S. Bureau of Economic
Analysis (BEA). Nationwide, personal income growth was nil in the third
quarter, compared with 1.6 percent in the second quarter. Second quarter
growth was boosted by payments from the Economic Stimulus
Act (see page 70). Only $5 billion in economic stimulus payments
were made in the third quarter, down from $113 billion in the
In this report. . .
second. This decline offset increases in the other components of
•Third quarter 2008 state personal
personal income.
income statistics
Third quarter growth was the weakest since the first quarter of
1994 (highlights on page 68). Third quarter growth ranged from
• Economic Stimulus Act of 2008 and
a 1.4 percent increase in Wyoming to a 1.6 percent decrease in
personal income
Mississippi.
Inflation, as measured by the national price index for personal
• Hurricane Ike adjustments and
consumption expenditures, was 1.3 percent in the third quarter
personal income
compared with 1.0 in the second quarter.
•County compensation by industry
statistics, 2007
County compensation by industry, 2007
Total compensation of U.S. workers grew 5.2 percent in 2007, and
most counties shared in that growth. Compensation grew in
more than 90 percent of 3,111 counties (see page 72). Inflation, as
For information about BEA regional
measured by the national price index for personal consumption
statistics, go to www.bea.gov.
expenditures, grew 2.6 percent in 2007.
The compensation-by-industry statistics cover 114 industries
for 3,111 counties. The 2005-2006 statistics have been revised to incorporate
newly available source data; the 2007 statistics are new. In addition, BEA has
released compensation by industry for metropolitan areas, metropolitan di
visions, micropolitan areas, combined statistical areas, and BEA economic
areas. The information can be accessed at www.bea.gov/bea/regional/reis.
A note about this report
BEA is pleased to present the inaugural Regional Quarterly Report, which will
provide information and analysis on state personal income and related statis
tics as well as new features, such as primers and explanatory articles. The re
port will appear in the January, April, July, and October issues of the S u r v e y
o f C u r r e n t B u s in e s s . A s always, BEA welcomes any suggestions. Please direct
feedback to customerservice@bea.gov.
The following BEA economists contributed to this report: Tina C. Highfill,
David G. Lenze, and Mauricio Ortiz.
66
Regional Quarterly Report
January 2009
S tate Personal Incom e
Construction
The construction industry in four sunbelt states— Ari
zona, California, Florida, and Nevada— accounted for
23 percent of national construction industry earnings
in the third quarter. That’s down from 26 percent in
the third quarter of 2006. (Earnings is the sum o f three
components o f personal income: wage and salary dis
bursements, supplements to wages and salaries, and
proprietors' income.) The loss in construction-industry share in these states occurred simultaneously with a
drop in national housing starts from 1.7 million in the
third quarter of 2006 to 0.9 million in third quarter of
2008.
Construction Earnings in Four Sunbelt States and
U.S. Housing Starts
Percent of U.S. construction earnings
Million housing starts
29
U.S. housing starts
■Construction earnings
2004
2005
2006
2007
Housing starts data are from the Census Bureau.
N o te .
U.S. Bureau of Economic Analysis
Housing Prices
In California, prices have fallen 25 percent since the
third quarter of 2006. That reversed a 217 percent in
crease from the first quarter of 1997 to the third quar
ter o f 2006. In Florida, prices have fallen 19 percent
since the fourth quarter of 2006, reversing a 175 per
cent increase from the first quarter o f 1997 to the
fourth quarter o f 2006. In Nevada, prices have fallen 24
percent after a 134 percent increase over the same
timeframes. And in Arizona, prices have fallen 15 per
cent since the first quarter of 2007 after a 152 percent
increase from the first quarter o f 1997 to the first quar
ter of 2007.
Housing Prices
1997:1=1.0
N o te . Housing price data are from the Office of
U.S. Bureau of Economic Analysis
Federal Housing Enterprise Oversight.
2008
January 2009
Survey
of
67
C u r r e n t B usin ess
State Personal Incom e
Farm prices
Farm proprietors’ income fell 12 percent in the third
quarter, the third decline in the past four quarters. In
contrast, from the second quarter of 2006 to the third
quarter of 2007, farm proprietors’ income tripled.
Farm proprietors’ income generally rises and falls with
grain prices. Wheat prices peaked in the first quarter of
2008, while corn and soybean prices peaked in the sec
ond quarter. From 2006 to 2008, strong price increases
for these grains were driven by strong export and do
mestic demand for use in food, feeds, and biofuel.
U.S. Farm Proprietors’ Income and Grain Prices
Dollars per bushel
Billions of dollars
N o te . Grain price data are from the U.S. Department of Agriculture.
U.S. Bureau of Economic Analysis
Mining industry and oil prices
In four energy-producing states— Alaska, Oklahoma,
Texas, and Wyoming— mining industry earnings re
mained relatively strong in the third quarter of 2008,
growing 9.2 percent as oil prices peaked. (The mining
industry includes oil extraction.) Earnings in the third
quarter were 2.2 times earnings in the first quarter of
2004. In contrast, third quarter earnings in all other in
dustries were 1.3 times higher. Alaska’s 2008 personal
income was boosted by a 224 percent increase in the
Alaska Permanent Fund dividend to $3,269 per person.
(A portion o f oil lease rents and royalties received by
the state are deposited in this fund).
U.S. Spot Price of Oil and Earnings in Four Energy
Producing States
Dollars per barrel
2004:1=1.0
120
2.4
H I Price of oil
— Mining earnings
— Earnings in aii other industries
0
2004
N o te . Oil
2005
2006
price data are from the Energy Information Agency.
U.S. Bureau of Economic Analysis
2007
2008
Regional Quarterly Report
68
January 2009
State Personal Incom e
Economic Stimulus Payments
In the Bureau of Economic Analysis (BEA) quarterly state
personal income statistics, the income tax rebates autho
rized by the Economic Stimulus Act of 2008 for individuals
who pay no income taxes (or for whom the rebate would
exceed the amount of the income taxes they do pay) are
treated as personal current transfer receipts. These rebates
amounted to $113 billion in the second quarter of 2008 and
$5.4 billion in the third quarter. For details, see the box
“Economic Stimulus Act of 2008” in the October 2008 issue
o f t h e S u r v e y o f C u r r e n t B u s in e s s .
Table A. Economic Stimulus Payments by State
[Millions of dollars]
2008:11
Alabama.................
Alaska.....................
Arizona...................
Arkansas................
California................
Colorado.................
Connecticut............
Delaware................
District of Columbia.
Florida....................
Georgia...................
Hawaii.....................
Idaho......................
Illinois.....................
Indiana....................
Iowa........................
Kansas...................
Kentucky.................
Louisiana................
Maine......................
Maryland................
Massachusetts........
Michigan.................
Minnesota...............
Mississippi..............
Missouri..................
2,977
177
2,115
1,545
11,536
1,212
771
294
235
7,970
5,177
389
493
4,404
2,217
798
855
1,738
3,019
366
1,627
1,359
3,370
1,193
2,345
2,251
2008:1
2008:1
142
8
101
74
551
58
37
14
11
381
247
19
24
210
106
38
41
83
144
17
78
65
161
57
112
108
Montana............
Nebraska...........
Nevada..............
New HampshireNew Jersey........
New Mexico.......
New York...........
North Carolina....
North Dakota.....
Ohio...................
Oklahoma..........
Oregon..............
Pennsylvania.....
Rhode Island.....
South Carolina...
South Dakota.....
Tennessee.........
Texas.................
Utah...................
Vermont.............
Virginia..............
Washington.......
West Virginia.....
Wisconsin..........
Wyoming...........
United States.....
2008:11
324
534
811
256
2,319
1,004
7,029
4,158
174
4,019
1,596
15
26
39
12
111
48
336
199
8
688
192
76
49
178
15
114
12
138
602
33
7
117
77
33
1,427
142
113,000
7
5,400
1,021
3,720
322
2,377
260
2,896
12,603
684
147
2,438
1,621
68
Special Hurricane Ike Adjustments
The third-quarter estimate of state personal income for
Texas and several other states reflects the effects of Hurri
cane Ike, which landed in Texas on September 13, 2008.
Rental income of persons in Texas was reduced by $6.5 bil
lion (at an annual rate) and nonfarm proprietors’ income
was reduced by $2.1 billion to reflect uninsured losses of
residential and business property. Transfer receipts from
business were boosted by $6.6 billion to reflect net insur
ance benefits paid to persons. The combined effect of these
adjustments was to lower third quarter personal income
$2.0 billion in Texas and $0.8 billion in eight other states.
Because other effects of the hurricane were embedded in
the source data, the Bureau of Economic Analysis did not
attempt to quantify their impact. For further details on how
natural disasters are treated in state personal income, see
the articles in the January and April 2006 issues of the S u r
vey
o f C u r r e n t B u s in e s s .
Table B. Special Hurricane Ike Adjustments to State Personal
Income for the Third Quarter of 2008
[Millions of dollars, annual rate]
Texas
Nonfarm proprietors’ income.....................................
Rental income of persons...........................................
Transfer receipts (net insurance settlements)...........
Total adjustments........................................................
-2,114
-6,483
6.557
-2,040
Other
states'
-786
-2,417
2,443
-760
U.S.
-2,900
-8,900
9,000
-2,800
1.
The other states ate Ohio, Kentucky, Indiana, Illinois, Louisiana, Pennsylvania, Missouri, and
Arkansas.
January 2009
Survey
of
69
C u r r e n t B usin ess
State Personal Incom e
Table 1. Personal Income by State and Region
[Millions of dollars, seasonally adjusted at annual rates]
2004
2005
2008
2007
2006
Area name
IV
United States....... 10,013,509
583,516
New England...............
164,622
Connecticut...............
Maine.......................
40,582
Massachusetts..........
272,128
New Hampshire.........
48,353
Rhode Island.............
37,558
Vermont....................
20,273
Mideast........................ 1,847,325
30,436
Delaware..................
District of Columbia ,,,
30,135
Maryland..................
225,630
New Jersey...............
371,430
764,467
New York..................
425,227
Pennsylvania.............
1,513,450
Great Lakes.................
Illinois.......................
456,790
Indiana.....................
190,708
Michigan...................
325,666
Ohio.........................
361,190
Wisconsin.................
179,097
649,038
Plains..........................
Iowa..........................
93,261
Kansas.....................
86,772
189,495
Minnesota................
Missouri..
178,742
56,979
Nebraska
19,292
North Dakota.............
South Dakota............
24,498
Southeast.
2,252,177
130,174
Alabama
73,277
Arkansas
Florida...
588,191
Georgia.
272,528
Kentucky
114,697
Louisiana..................
125,500
Mississippi................
71,335
258,794
North Carolina...........
116,927
South Carolina..........
178,717
Tennessee................
Virginia..
275,290
West Virginia.............
46,746
1,043,117
Southwest
Arizona..
170,893
New Mexico...............
51,298
103,173
Oklahoma.................
Texas........................
717,753
Rocky Mountain...........
318,608
168,584
Colorado...................
39,362
Idaho........................
26,656
Montana...................
Utah.........................
65,634
18,372
Wyoming..................
Far West......................
1,806,279
Alaska......................
23,015
California..................
1,302,488
Hawaii......................
42,346
Nevada.....................
84,313
Oregon.....................
112,080
242,037
Washington...............
I
II
III
IV
10,032,018 10,170,092 10,268,993 10,540,294
579,617
586,406
598,099
607,945
172,474
168,503
162,391
164,945
40,127
40,511
41,099
39,781
281,425
285,586
272,658
275,266
49,112
47,666
48,323
49,593
37,632
38,091
38,559
37,223
20,457
20,634
19,898
20,113
1,847,305 1,869,246 1,905,309 1,940,602
30,813
32,213
30,020
30,290
32,234
31,627
32,549
31,088
234,869
238,343
227,601
230,910
379,883
384,916
369,446
373,057
767,135
776,902
795,381
815,161
422,014
426,460
432,130
437,419
1,500,668 1,514,629 1,532,237 1,546,101
459,371
471,887
454,318
466,891
192,392
187,854
194,119
190,183
322,130
324,512
326,278
328,240
368,214
357,972
360,582
364,038
178,393
179,981
182,639
183,640
659,783
665,992
643,219
650,257
91,312
92,742
94,063
94,729
88,982
87,451
89,713
86,283
187,912
191,605
193,129
188,538
181,618
183,947
177,107
179,376
58,637
56,304
57,203
57,999
20,200
19,639
19,973
20,405
25,317
24,662
24,973
25,431
2,262,851
2,406,190
2,276,751 2,313,100
133,373
137,943
130,753
132,886
74,347
75,143
73,279
76,669
607,067
621,679
634,328
594,560
286,092
276,815
281,028
292,928
114,641
116,384
117,746
118,869
46,335
140,550
127,493
128,878
68,553
72,495
73,539
78,560
262,932
270,551
274,245
266,445
121,111
123,077
117,453
119,238
185,424
187,828
179,670
182,056
283,937
289,075
292,843
279,906
47,770
46,753
47,295
48,349
1,067,424 1,085,659 1,113,460 1,137,939
185,642
175,605
188,683
180,328
53,851
54,505
52,115
53,035
105,512
107,583
110,007
103,876
766,384
784,743
735,828
746,785
324,157
329,562
336,598
342,056
171,305
173,811
177,050
179,296
41,234
39,716
40,424
42,037
26,812
27,815
28,235
27,223
70,604
72,093
67,451
68,828
18,873
19,895
20,396
19,276
1,792,878 1,821,233 1,860,654 1,893,469
23,601
24,340
24,692
23,859
1,306,682 1,326,949 1,357,686 1,380,012
43,787
44,288
45,176
43,196
86,925
90,915
92,584
89,666
113,344
115,669
111,668
116,890
227,757
220,806
223,628
234,115
I
10,761,825
622,914
176,942
41,668
292,743
51,084
38,897
21,580
1,979,815
32,796
33,260
242,189
397,395
826,761
447,414
1,570,304
481,939
198,722
328,962
371,902
188,779
676,101
95,560
92,984
197,040
186,749
58,811
20,050
24,908
2,449,076
138,452
78,027
652,955
295,053
121,917
136,176
77,248
279,324
127,364
190,955
302,059
49,545
1,164,943
194,707
55,726
114,686
799,824
351,417
185,227
43,075
28,645
73,352
21,119
1,947,255
25,274
1,420,391
46,255
93,721
121,283
240,331
II
III
IV
I
II
III
IV
r
ir
IIIP
10,898,010 11,041,447 11,207,967 11,441,897 11,545,164 11,699,803 11,839,420 11,933,709 12,125,277 12,131,245
668,297
701,493
630,240
677,233
686,529
691,988
698,265
636,449
648,315
664,200
197,407
198,333
190,820
195,448
196,044
178,406
180,573
183,751
189,817
194,193
46,664
46,753
42,280
42,720
42,974
44,506
44,946
45,335
45,961
44,155
332,341
327,142
330,318
296,768
298,742
305,029
311,792
313,600
318,065
324,360
54,632
56,549
51,432
52,094
53,804
53,674
54,548
55,280
55,913
56,360
43,323
42,459
43,030
43,385
39,753
40,382
40,613
41,895
41,699
41,981
24,194
23,897
24,131
21,937
22,144
22,867
23,124
23,416
23,648
21,601
2,006,629 2,028,576 2,066,288 2,119,288 2,121,774 2,151,449 2,178,120 2,203,556 2,224,062 2,230,974
35,793
34,841
34,947
35,392
33,113
33,533
33,312
34,255
34,519
35,743
37,996
33,676
34,151
34,497
35,410
35,716
36,545
36,806
37,359
37,738
266,027
268,279
273,199
244,844
258,002
263,151
272,179
248,051
251,085
261,106
442,150
428,439
433,820
439,956
440,552
403,356
405,653
412,538
423,373
425,063
937,678
893,264
904,449
917,303
928,865
935,060
838,810
849,228
870,988
887,029
502,791
452,829
478,341
484,023
489,216
493,705
504,158
457,961
463,869
474,983
1,587,927 1,603,345 1,617,486 1,662,578 1,669,877 1,687,081 1,703,989 1,714,583 1,741,741 1,741,641
539,072
547,789
548,473
487,643
492,734
499,485
521,232
528,006
537,231
517,209
218,000
200,419
202,754
204,425
211,225
213,276
215,391
218,505
207,896
209,038
355,841
332,366
334,168
347,461
347,893
350,160
355,579
335,119
343,925
344,263
396,729
399,464
408,858
376,867
380,466
382,967
392,984
393,662
402,791
409,583
210,470
190,633
193,223
200,564
201,682
203,660
206,126
207,169
210,285
195,490
769,073
728,701
738,141
748,598
758,572
769,750
684,285
690,090
701,676
718,886
109,482
97,344
103,087
104,915
106,368
107,921
109,718
96,450
99,255
101,523
101,404
106,492
95,642
98,034
103,376
104,628
106,605
94,282
99,456
100,869
221,591
222,078
199,521
208,947
214,030
216,643
220,671
201,081
203,360
212,145
198,204
203,558
205,288
208,681
188,863
190,146
192,545
196,440
200,891
209,205
64,844
67,331
67,080
59,613
59,752
61,323
62,543
63,760
65,735
66,036
20,562
23,291
25,182
25,211
20,445
21,056
22,338
22,592
23,781
24,386
29,137
29,642
30,049
25,111
25,563
26,103
27,639
28,043
28,766
30,118
2,482,445
2,517,026 2,553,097 2,597,089 2,627,405 2,659,895 2,683,231 2,699,866 2,756,824 2,745,239
150,854
158,611
157,205
140,779
142,872
147,571
152,350
154,021
144,460
149,020
88,466
87,407
89,306
79,258
80,359
81,678
83,153
84,260
85,431
90,015
719,883
705,336
708,060
711,068
721,956
663,229
674,619
683,248
689,443
694,417
320,704
325,893
332,637
330,135
298,512
302,435
307,563
315,471
317,353
322,273
133,754
136,739
123,344
124,708
126,321
130,274
130,851
132,435
137,125
128,776
155,783
157,375
161,296
159,733
138,174
140,436
143,066
146,435
154,686
157,035
84,571
84,462
88,444
87,013
78,768
79,803
83,424
85,022
77,968
80,601
310,249
318,843
282,649
287,342
292,566
306,303
312,139
319,800
300,735
302,806
135,879
130,702
134,432
137,761
139,334
140,370
143,814
143,179
128,940
132,460
206,166
209,567
214,491
213,710
194,554
196,136
199,189
202,023
204,118
210,786
333,545
307,908
311,425
316,107
318,455
322,806
324,723
327,813
332,738
304,828
55,946
50,739
51,319
52,343
52,714
53,328
53,936
54,559
55,896
50,209
1,204,556 1,226,449 1,251,682 1,269,327 1,289,223 1,308,620 1,327,754 1,357,883 1,358,839
1,183,408
214,789
201,332
204,512
205,894
210,081
211,199
212,953
215,533
197,368
207,005
57,249
58,071
61,476
63,933
56,401
59,096
59,738
60,839
62,509
64,073
119,082
125,081
127,527
131,124
135,225
115,890
117,773
123,076
129,435
135,016
944,892
921,167
943,262
828,201
844,784
863,617
877,502
890,776
906,509
813,748
401,576
363,262
368,584
385,398
392,394
395,002
400,623
355,818
373,970
379,795
190,057
200,794
204,766
206,383
208,774
209,969
186,020
191,551
194,703
197,395
48,952
46,704
48,525
48,277
44,122
44,528
45,830
47,176
47,739
49,095
33,244
31,461
29,648
30,138
31,117
31,990
32,426
32,691
33,253
28,986
74,771
80,122
81,233
81,657
82,701
76,300
77,899
77,646
79,387
83,150
25,444
26,711
22,730
24,753
25,995
26,350
21,919
23,165
23,800
24,375
1,967,257
1,998,143 2,026,072 2,054,204 2,079,988 2,111,383 2,137,940 2,142,389 2,176,130 2,182,409
29,844
27,390
27,673
29,062
25,822
26,080
26,523
26,889
27,224
29,615
1,432,731
1,454,902 1,473,240 1,491,280 1,510,395 1,529,991 1,547,832 1,548,576 1,575,481 1,579,156
49,711
50,557
51,649
52,556
47,780
48,308
49,247
51,003
52,426
47,008
100,161
104,920
105,369
95,861
97,165
99,134
99,466
102,311
104,730
105,073
124,579
126,462
128,679
130,207
132,288
133,871
134,586
136,915
137,290
122,488
247,637
268,847
272,642
273,787
278,195
252,405
258,643
262,289
276,620
243,346
See also “Table 3. Personal Income by M ajor Source and
Earnings by Industry, 2007:1-2008:111” on page 76.
Percent
change1
2008:112008:lll
0.0
0.5
0.5
0.2
0.6
0.3
- 0.1
0.3
0.3
0.1
0.7
0.4
0.4
0.3
0.3
0.0
0.1
- 0.2
0.1
- 0.2
0.1
-0.1
- 0.2
- 0.1
0.2
-0.3
-0.4
0.1
- 0.2
-0.4
-0.9
- 0.8
-0.3
- 0.8
-0.3
- 1.0
- 1.6
-0.3
-0.4
-0.4
0.2
0.1
0.1
-0.3
- 0.2
0.2
0.2
0.2
0.6
-0.3
0.0
-0.5
1.4
0.3
0.8
0.2
0.2
0.3
0.3
0.6
70
January 2009
Regional Quarterly Report
C ounty C om pensatio n
County compensation by industry, 2005-2007
Compensation increased in more than 90 percent of
the 3,111 counties in the United States in 2007. Total
compensation of U.S. workers grew 5.2 percent (see
chart 1 on page 74).
Each December, county compensation by industry
statistics for the previous year are released by BEA.
These statistics are the earliest county-level data avail
able from BEA and provide the first glimpse at a local
area’s industrial composition. Compensation is the
sum of wage and salary disbursements and supple
ments to wages and salaries and accounts for nearly 60
percent of personal income.1 It is one of several statis
tics available for assessing a local area’s economy. Com
pensation is measured by place of work and can
therefore be used as a proxy for production. It also
provides an early view of the changes in the industrial
mix within the local areas.
In 2007, the 164 largest counties in the United
States, those with total compensation of $10 billion or
more, accounted for about two-thirds of the nation’s
total compensation.2 These 164 counties are concen
trated in the northeast, southeast, and southwest
coastal areas of the United States (see chart 2 on page
75). The share of U.S. compensation among large
counties, medium counties (667 counties with total
compensation of between $1 billion and $10 billion in
2007), and small counties (2,280 counties with total
compensation less than $1 billion in 2007) counties
has been quite stable between 1969 and 2007.
Compensation growth in large counties has been
more volatile than growth in medium or small coun
ties. Two major industry sectors are mainly responsible
for this: “professional and technical services” and “fi
nance and insurance.” In large counties, these sectors,
along with the health care and social assistance sector,
accounted for about 30 percent of total compensation.
While growth in the health care and social assistance
sector has remained relatively steady, the fluctuating
1. Because compensation is on a place-of-work basis while personal in
come is on a place-of-residence basis and because compensation includes
government contributions to social insurance, which is not part of personal
income, the formula to calculate compensation as a percent of personal in
come is most accurately presented as: ((wage and salary disbursements) +
(supplements to wages and salaries) - (contributions for government social
insurance) + (adjustment for residence)) / (personal income). The last year
this formula can be calculated for counties is 2006.
2. All large counties are part of metropolitan areas.
growth in the professional and technical services and
finance and insurance sectors has driven the growth in
large counties (chart 3).
Chart 3. Select Industry Growth Rates, Large Counties
Percentage
12
10
8
6
4
2
0
-2
—4
2002
2003
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
Compensation growth in medium and small coun
ties has been less volatile because local government and
health care and social assistance industry sectors ac
count for a large share of compensation. These indus
try
sectors
have
exhibited
relatively stable
compensation growth during 2001-2007 (chart 4 and
chart 5). These sectors, along with the durable-goods
manufacturing sector, account for approximately 32
percent and 37 percent of total compensation for me
dium and small counties, respectively.
Chart 4. Select Industry Growth Rates, Medium Counties
Percentage
12
10
8
6
4
2
0
-2
2002
2003
U.S. Bureau of Economic Analysis
2004
2005
2006
2007
January 2009
Su rvey
of
71
C u r r e n t B usin ess
C ou nty C om pensatio n
Chart 5. Select Industry Growth Rates, Small Counties
Southwest Region
Percentage
10
Percentage
■ Local government
1? Health care and social assistance
■ Durable-goods manufacturing
8
Chart 6. Annual Growth for Largest Sectors in the
14
12
10
8
6
6
4
4
2
0
2
-2
0
-4
2002
2003
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
-6
2002
2003
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
In 2007, compensation growth ranged from a low in
the Great Lakes region of 3.4 percent to a high in the
Southwest region of 7.1. The Southwest region in
cludes counties in Arizona, New Mexico, Oklahoma,
and Texas, while the Great Lakes region consists of
counties in Illinois, Indiana, Michigan, Ohio, and Wis
consin. Compensation declined in almost 13 percent
of Great Lakes counties in 2007, compared with less
than 4 in Southwest counties. Since 2001, annual
growth rates have averaged 5.9 percent in the South
west, compared with 3.1 percent growth in the Great
Lakes. The sectors that contribute the most to com
pensation in these two regions provide insight into the
considerable differences in compensation growth.
Compensation is concentrated in the same four in
dustry sectors in both the Southwest and Great Lakes
regions: local government, durable-goods manufactur
ing, health care and social assistance, and professional
and technical services.
In the Southwest region, the local government sec
tor contributed the most to compensation and has
grown by at least 5.5 percent annually since 2001
(chart 6). Total growth from 2001 to 2007 was more
than 45 percent. Starting in 2005, the professional and
technical services sector has grown 23.2 percent, out
pacing local government (13.2 percent). Professional
and technical services became the third largest sector
in the Southwest in 2007, replacing durable-goods
manufacturing.
In the Great Lakes region, the durable-goods manu
facturing sector contributed the most to compensa
tion; annual growth ranged from -5 .2 percent in 2004
to 5.7 percent in 2003 (chart 7). Since 2001, compensa
tion in the sector has grown only 2 percent; in 2007,
growth was less than 1 percent. As the contribution of
durable-goods manufacturing continued to decline in
the Great Lakes and Southwest, the health care and so
cial assistance sector, continues to increase. The health
care and social assistance sector was the second largest
sector for both regions.
Chart 7. Annual Growth for Largest Sectors in Great
Lakes Region
Percentage
12
10
8
Local government
Health care and social assistance
I Durable-goods manufacturing
Professional and technical services
6
4
2
0
-2
-4
—6
2002
2003
U.S. Bureau of Economic Analysis
2004
2005
2006
2007
Chart 1. Percent Change in Compensation by County, 2007
" j
rv>
Regional Quarterly Report
U.S. grow th rate = 5.2%
|
H
H ighest quintile
Fourth quintile
| T hird quintile
j Second quintile
U.S. Bureau of E conom ic A nalysis
January 2009
j Lowest quintile
January
Chart 2. Compensation in Counties With at Least $10 Billion, 2007
2 00 9
S urvey
of
C urrent
B usiness
U.S. Bureau of Econom ic Analysis
-si
co
74
Regional Quarterly Report
January 2009
C ou nty C om pensatio n
Table 2. Total Compensation and Average Compensation by County, 2005-2007—Continues
Counties with 2007 total compensation greater than or equal to $10 billion
Total compensation
Area
United States............................................................................
New York, N Y ................................................................................................
Los Angeles, CA
Cook, IL...
Harris, TX
Dallas, TX
Maricopa, AZ.................................................................................................
Orange, CA
Santa Clara, CA
San Diego, CA
King, WA..
District of Columbia
Middlesex, MA
Hennepin, M N ...............................................................................................
Miami-Dade, FL.............................................................................................
Fulton, G A..........
Fairfax, Fairfax City + Falls Church, VA.........................................................
Suffolk, MA
San Francisco, CA
Alameda, CA
Clark, NV
Wayne, Ml...........
Oakland, M l...................................................................................................
Tarrant, T>
Cuyahoga, OH
Philadelphia, PA
Fairfield, CT
Allegheny, PA
Broward, FL
DuPage, IL
Sacramento, CA............................................................................................
Nassau, NY...................................................................................................
Bexar, TX.
Franklin, OH
Suffolk, NY
Mecklenburg, NC
St. Louis, MO
Orange, FL
Hartford, CT...................................................................................................
Montgomery, MD.
Hillsborough, FL..
Montgomery, PA..
Travis, TX............
San Bernardino, CA
Marion, IN...........
Westchester, NY..
Bergen, N J....................................................................................................
Palm Beach, FL.............................................................................................
San Mateo, CA
Hamilton, OH
Riverside, CA
Salt Lake, UT
Denver, CO
Shelby, TN
Middlesex, NJ
Queens, NY
Duval, FL.......................................................................................................
Milwaukee, W l...............................................................................................
Honolulu, HI...................................................................................................
Essex, NJ
Lake, IL....
Multnomah, OR
Wake, NC
Contra Costa, CA
Davidson, TN.................................................................................................
Morris, NJ ......................................................................................................
Jefferson, KY.................................................................................................
Kings, NY
Erie, NY...
Baltimore, MD
Baltimore City, MD
New Haven, CT
Oklahoma, OK
Pinellas, FL
Norfolk, MA
Jackson, MO
Jefferson, AL
Monroe, NY
Ramsey, MN
Prince George’s, MD.....................................................................................
Ventura, CA...................................................................................................
Cobb, GA.......................................................................................................
Newcastle, DE.............................................................................................
Macomb, Ml...................................................................................................
See the footnotes at the end of the table.
Millions of dollars
2005
2006
2007
7,011,325
240,064
250,137
163,840
118,597
91,342
88,032
92,810
80,132
82,961
75,264
61,788
58,571
55,645
54,663
53,105
49,442
48,300
45,646
47,418
44,316
49,651
46,266
38,912
40,836
39,837
37,800
38,133
38,696
36,320
36,742
35,843
34,197
35,780
34,389
33,053
34,929
33,087
33,457
33,470
32,684
32,182
30,831
31,545
32,495
29,497
29,915
29,634
28,401
30,500
28,260
26,427
27,706
27,592
26,498
26,253
26,221
26,509
25,409
24,844
22,681
23,228
21,629
23,563
22,177
22,037
21,990
21,865
21,427
20,858
21,385
20,979
20,095
20,771
20,057
20,232
20,301
20,017
19,261
19,034
19,040
18,060
18,399
19,135
7,417,593
264,533
263,554
171,139
130,344
97,854
96,890
97,616
87,054
87,201
81,667
65,088
61,645
57,712
58,144
56,705
52,328
50,981
48,957
49,946
47,817
49,092
45,847
42,014
42,319
41,443
40,122
39,786
41,183
38,684
38,670
37,361
37,031
37,096
36,754
36,103
36,414
35,294
34,573
35,255
34,655
34,243
33,998
33,424
34,008
31,084
31,023
31,307
29,464
30,870
30,658
28,743
29,484
28,978
28,145
27,242
28,287
27,604
26,971
25,716
24,220
24,726
23,625
24,720
23,883
23,478
23,234
22,848
22,386
21,922
21,898
21,746
21,875
21,768
21,566
7,804,384
294,612
274,833
178,695
144,297
103,705
101,197
100,166
94,426
91,370
87,615
68,422
66,516
61,893
60,106
59,178
55,375
55,320
53,204
51,919
50,734
49,923
46,680
44,443
43,663
43,463
43,118
42,066
42,045
40,458
40,035
39,513
39,356
38,893
38,762
38,339
37,803
36,913
36,827
36,652
36,032
35,774
35,575
34,925
34,717
33,247
32,806
32,467
31,784
31,726
31,488
31,415
31,354
30,153
29,488
29,363
29,164
28,670
28,391
26,805
26,382
26,246
25,585
25,515
24,789
24,313
24,270
24,032
23,237
22,921
22,711
22,701
22,658
22,192
22,168
21,903
21,714
21,180
20,755
20,739
20,488
19,835
19,545
19,503
21,112
21,106
20,595
19,793
19,712
19,646
18,598
19,261
19,075
Average compensation
Percent change’
2006-2007
5.2
11.4
4.3
4.4
10.7
6.0
4.4
2.6
8.5
4.8
7.3
5.1
7.9
7.2
3.4
4.4
5.8
8.5
8.7
4.0
6.1
1.7
1.8
5.8
3.2
4.9
7.5
5.7
2.1
4.6
3.5
5.8
6.3
4.8
5.5
6.2
3.8
4.6
6.5
4.0
4.0
4.5
4.6
4.5
2.1
7.0
5.7
3.7
7.9
2.8
2.7
9.3
6.3
4.1
4.8
7.8
3.1
3.9
5.3
4.2
8.9
6.1
8.3
3.2
3.8
3.6
4.5
5.2
3.8
4.6
3.7
4.4
3.6
2.0
2.8
3.7
2.9
2.8
4.9
5.2
4.3
6.6
1.5
2.2
Dollars
2005
49,735
99,671
57,379
60,230
59,488
60,340
48,670
57,997
88,026
55,515
62,894
84,548
68,166
61,825
49,223
66,710
74,069
79,449
81,231
65,790
48,527
58,061
59,816
50,721
51,321
57,235
83,352
51,750
47,679
58,595
55,852
55,943
45,643
48,771
53,541
59,168
52,517
46,237
63,524
66,306
47,292
62,120
55,172
45,665
51,693
66,735
61,933
48,094
80,938
53,615
43,640
45,676
60,512
50,379
62,354
50,043
50,823
49,488
50,302
63,560
61,631
50,196
49,399
64,403
49,330
72,050
48,306
43,307
44,676
52,414
57,716
52,851
44,613
43,567
59,106
51,059
50,361
49,298
54,215
55,845
56,156
53,772
60,053
54,680
2006
51,755
107,650
59,594
62,339
63,008
63,032
50,895
60,101
93,443
57,804
66,165
88,400
70,852
63,423
51,796
68,148
77,194
82,695
85,459
68,686
49,798
58,796
60,691
53,087
52,986
59,349
87,669
53,889
49,714
61,122
57,775
57,819
47,564
50,377
56,508
61,837
54,396
47,970
64,644
68,938
49,885
65,489
58,462
47,078
53,867
70,039
64,130
49,659
82,167
55,212
45,265
47,563
63,327
52,217
65,515
51,356
53,393
51,301
52,262
65,594
65,099
52,127
51,170
66,747
52,217
75,163
50,152
44,796
46,758
54,440
59,166
54,414
47,800
45,056
63,105
52,809
51,960
51,024
55,353
57,763
57,371
55,127
62,456
55,288
Percent change
2007
53,892
116,977
61,659
64,990
67,108
65,893
52,578
61,951
99,231
60,344
69,573
92,281
75,210
67,457
53,346
71,875
80,739
87,565
89,993
71,190
52,276
61,186
62,284
54,805
54,976
62,242
93,023
56,576
50,649
63,351
59,779
60,804
49,542
52,169
58,692
63,332
56,899
49,042
68,135
72,557
51,487
67,956
58,846
48,618
54,872
73,478
67,124
51,892
87,050
57,264
46,531
50,158
65,767
54,364
66,881
54,053
54,968
53,018
54,558
68,224
70,315
54,294
52,955
69,050
54,339
78,097
52,063
46,176
48,435
56,454
61,788
56,684
49,485
46,163
64,110
54,511
54,001
52,487
57,883
59,687
59,805
56,948
63,311
57,885
2006-2007
4.1
8.7
3.5
4.3
6.5
4.5
3.3
3.1
6.2
4.4
5.2
4.4
6.2
6.4
3.0
5.5
4.6
5.9
5.3
3.6
5.0
4.1
2.6
3.2
3.8
4.9
6.1
5.0
1.9
3.6
3.5
5.2
4.2
3.6
3.9
2.4
4.6
2.2
5.4
5.2
3.2
3.8
0.7
3.3
1.9
4.9
4.7
4.5
5.9
3.7
2.8
5.5
3.9
4.1
2.1
5.3
2.9
3.3
4.4
4.0
8.0
4.2
3.5
3.5
4.1
3.9
3.8
3.1
3.6
3.7
4.4
4.2
3.5
2.5
1.6
3.2
3.9
2.9
4.6
3.3
4.2
3.3
1.4
4.7
January 2009
Sur v ey
of
75
C u r r e n t B u sin ess
C ounty C om pensatio n
Table 2. Total Compensation and Average Compensation by County, 2005-2007— Table Ends
Counties with 2007 total compensation greater than or equal to $10 billion
Average compensation
Total compensation
2005
Gwinnett, GA................................................................................................
Hudson, NJ...................................................................................................
Pima, AZ...
Anne Arundel, MD
Arapahoe, CO
Johnson, KS
Collin, TX..
DeKalb, GA
Worcester, MA..............................................................................................
Tulsa, OK......................................................................................................
Essex, M A...................................................................................................
Chester, PA
Union, NJ..
Douglas, NE
Kent, M l....
Bernalillo, NM
Pierce, WA
Arlington, VA.................................................................................................
Dane, W l......................................................................................................
Fresno, C A ...................................................................................................
Somerset, NJ...............................................................................................
Washington, OR...........................................................................................
Providence, R l.............................................................................................
Monmouth, NJ.............................................................................................
Snohomish, WA............................................................................................
Mercer, NJ...................................................................................................
St. Louis City, MO.........................................................................................
El Paso, CO.................................................................................................
Polk, IA ........................................................................................................
Bucks, PA....................................................................................................
Kern, CA......................................................................................................
Pulaski, AR...................................................................................................
Montgomery, OH..........................................................................................
Guilford, NC.................................................................................................
Summit, OH.................................................................................................
Durham, N C ................................................................................................
Sedgwick, KS...............................................................................................
Norfolk (Independent City), VA.....................................................................
Onondaga, NY.............................................................................................
East Baton Rouge, LA..................................................................................
Waukesha, W l.............................................................................................
Albany, NY...................................................................................................
Delaware, PA...............................................................................................
Burlington, NJ...............................................................................................
Hillsborough, NH..........................................................................................
El Paso, TX...................................................................................................
Camden, N J................................................................................................
Bronx, NY....................................................................................................
Jefferson, CO...............................................................................................
Greenville, SC..............................................................................................
Washtenaw, M l............................................................................................
Richland, SC................................................................................................
Charleston, SC.............................................................................................
Washoe, NV.................................................................................................
Knox, T N .....................................................................................................
Brevard, FL..................................................................................................
Madison, A L.................:..............................................................................
San Joaquin, CA..........................................................................................
Bristol, MA...................................................................................................
Lucas, O H...................................................................................................
Lee, FL.........................................................................................................
Kane, IL........................................................................................................
Lancaster, PA...............................................................................................
Ada, ID .........................................................................................................
Henrico, VA...................................................................................................
Sonoma, CA.................................................................................................
Boulder, CO..................................................................................................
Orleans, LA ..................................................................................................
Richmond (Independent City), VA................................................................
Santa Barbara, CA.......................................................................................
Spokane, WA................................................................................................
Passaic, NJ...................................................................................................
Hampden, M A..............................................................................................
Jefferson, LA................................................................................................
Cumberland, N C ..........................................................................................
Lehigh, PA....................................................................................................
Dauphin, PA..................................................................................................
Anchorage Municipality, AK..........................................................................
Virginia Beach (Independent City), VA.........................................................
Lake, IN........................................................................................................
Dakota, M N..................................................................................................
1. Percent change was calculated from unrounded data
Percent change1
Millions of dollars
Area
2006
17,439
17,472
16,878
16,912
16,890
16,602
14,952
16,850
16,947
15,981
16,730
16,175
16,299
15,872
16,752
15,586
14,896
15,177
15,072
14,813
13,847
14,229
14,992
14,789
12,801
13,894
14,574
14,162
13,726
13,642
12,697
12,460
14,159
12,964
13,203
11,479
12,204
12,271
12,450
11,410
12,309
12,497
11,741
11,858
11,641
10,812
11,536
11,433
11,249
10,991
11,363
10,605
10,112
10,522
10,188
10,713
9,767
10,256
10,490
10,807
10,210
10,310
10,486
9,449
9,819
10,138
9,704
11,504
9,836
9,901
9,262
10,202
9,789
9,138
8,871
9,039
9,334
9,053
9,043
9,348
9,177
18,864
18,144
18,189
17,927
18,278
17,633
16,578
17,001
17,705
17,552
17,492
17,043
17,187
16,829
17,209
16,655
16,031
15,799
15,924
15,629
15,026
15,317
15,753
15,300
14,080
14,810
14,881
14,787
14,539
14,415
13,688
13,096
14,464
13,689
13,549
12,526
13,405
13,074
12,988
12,723
13,225
13,142
12,384
12,383
12,124
11,673
12,012
11,927
11,609
11,600
11,591
11,409
10,803
11,083
10,773
11,258
10,521
10,698
10,886
11,096
11,129
10,785
10,792
10,578
10,143
10,561
10,198
9,891
10,345
10,128
9,927
10,380
10,106
9,766
9,448
9,586
9,788
9,579
9,568
9,660
9,597
2007
19,325
19,144
19,101
19,069
18,937
18,839
18,632
18,593
18,507
18,324
18,179
18,149
17,833
17,720
17,520
17,380
17,368
16,600
16,580
16,445
16,242
16,164
16,041
15,977
15,821
15,410
15,385
15,344
15,207
15,061
14,621
14,387
14,372
14,328
14,133
13,872
13,859
13,575
13,569
13,562
13,483
13,385
12,842
12,760
12,759
12,536
12,438
12,434
12,316
12,264
11,947
11,921
11,749
11,530
11,387
11,337
11,252
11,244
11,240
11,174
11,123
11,106
11,089
11,018
10,933
10,916
10,853
10,821
10,716
10,601
10,534
10,528
10,431
10,358
10,260
10,235
10,218
10,116
10,026
10,023
10,000
2006-2007
2005
2.4
5.5
5.0
6.4
3.6
6.8
12.4
9.4
4.5
4.4
3.9
6.5
3.8
5.3
1.8
4.4
8.3
5.1
4.1
5.2
8.1
5.5
1.8
4.4
12.4
4.0
3.4
3.8
4.6
4.5
6.8
9.9
- 0.6
4.7
4.3
10.7
3.4
3.8
4.5
6.6
2.0
1.8
3.7
3.0
5.2
7.4
3.5
4.2
6.1
5.7
3.1
4.5
8.8
4.0
5.7
0.7
6.9
5.1
3.2
0.7
- 0.1
3.0
2.7
4.2
7.8
3.4
6.4
9.4
3.6
4.7
6.1
1.4
3.2
6.1
8.6
6.8
4.4
5.6
4.8
3.8
4.2
Percent change
Dollars
51,452
67,399
43,775
59,894
58,379
51,162
57,707
52,824
49,900
45,005
53,281
64,724
65,073
46,779
46,285
44,558
49,060
88,015
46,550
41,128
76,134
56,391
48,916
53,295
51,767
60,980
56,741
49,753
49,414
48,349
44,476
46,272
47,659
44,659
46,003
63,032
46,356
57,576
47,017
42,455
49,924
51,740
51,870
53,608
55,359
37,498
50,783
46,685
50,621
43,694
54,089
45,129
44,081
47,505
42,641
47,437
53,271
44,505
44,782
44,538
43,213
46,838
42,896
45,036
53,483
50,081
57,553
48,550
56,433
48,954
42,475
53,973
46,868
42,572
51,835
48,917
48,958
56,199
43,024
44,608
49,409
2006
53,679
70,844
45,368
62,637
61,967
53,250
59,268
54,770
51,751
47,869
55,270
66,705
68,079
48,999
47,562
46,167
51,160
91,978
48,610
42,472
81,352
58,122
51,107
54,829
54,182
63,798
58,257
51,306
51,036
50,490
46,710
47,947
49,668
46,075
46,712
66,272
49,637
61,293
49,104
45,904
52,716
54,532
54,332
55,370
57,476
39,489
52,475
48,549
51,978
44,962
55,689
47,490
45,871
48,488
44,089
48,752
56,000
46,011
46,451
45,948
44,630
48,296
43,905
47,802
54,284
51,720
59,619
57,059
58,944
50,348
44,059
54,279
48,402
47,484
54,796
50,887
50,038
58,176
45,266
45,884
50,771
2007
54,510
74,476
46,996
65,281
62,858
55,126
62,033
56,606
53,928
49,161
57,282
69,335
70,114
50,894
48,793
47,688
53,461
95,062
50,097
44,268
86,516
60,274
52,210
56,950
56,862
67,078
59,381
52,999
52,573
52,478
49,144
52,202
50,278
47,538
48,503
70,365
50,207
64,422
50,899
48,244
53,576
55,569
55,626
57,355
60,100
41,520
55,057
50,460
54,278
46,345
58,479
48,678
48,069
50,485
45,682
50,203
57,907
47,649
48,136
47,072
45,595
48,939
44,865
48,875
56,467
53,015
61,979
57,247
62,211
52,053
45,783
55,343
50,048
48,499
58,297
53,757
52,039
61,024
47,300
47,378
52,589
2006-2007
1.5
5.1
3.6
4.2
1.4
3.5
4.7
3.4
4.2
2.7
3.6
3.9
3.0
3.9
2.6
3.3
4.5
3.4
3.1
4.2
6.3
3.7
2.2
3.9
4.9
5.1
1.9
3.3
3.0
3.9
5.2
8.9
1.2
3.2
3.8
6.2
1.1
5.1
3.7
5.1
1.6
1.9
2.4
3.6
4.6
5.1
4.9
3.9
4.4
3.1
5.0
2.5
4.8
4.1
3.6
3.0
3.4
3.6
3.6
2.4
2.2
1.3
2.2
2.2
4.0
2.5
4.0
0.3
5.5
3.4
3.9
2.0
3.4
2.1
6.4
5.6
4.0
4.9
4.5
3.3
3.6
76
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
United States
Item
Line
I
Income by place of residence
Personal income (lines 2 -11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions tor government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent 4.................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors' income5 ...................................................
Farm proprietors’ income........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing..........................................................
Durable goods.....................................................
Nondurable goods...............................................
Wholesale trade......................................................
Retail trade..............................................................
Transportation and warehousing..............................
Information..............................................................
Finance and insurance............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services...............................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Alabama
2007
II
2007
2008
III
IV
lr
II'
III
IV
lr
II'
II| p
1 11,441,897 11,545,164 11,699,803 11,839,420 11,933,709 12,125,277 12,131,245 147,571
149,020
150,854
152,350
154,021
158,611
157,205
2
111,101
111,673
12,789
8,741,954
958,924
8,780,231
958,536
8,875,032
965,732
8,984,739
975,104
9,057,298
992,034
4
496,772
496,680
500,232
505,008
5
10
462,152
-1,409
7,781,621
1,965,148
1,695,128
30,948
461,856
-1,420
7,820,276
2,026,264
1,698,624
30,896
465,500
-1,437
7,907,863
2,071,844
1,720,096
32,224
470,096
-1,458
8,008,176
2,093,916
1,737,328
33,956
11
1,664,180
1,667,728
1,687,872
12
6,287,040
1,431,732
6,304,052
1,441,404
6,371,004
1,453,704
6
7
8
9
13
I
2008
II
3
II| p
9,086,243
995,233
9,140,462
998,552
106,218
12,113
107,122
12,172
108,194
12,298
109,239
12,398
110,341
12,629
515,042
516,915
518,800
6,578
6,608
6,665
6,714
6,854
6,917
6,945
476,992
-1,477
8,063,787
2,092,340
1,777,582
37,829
478,318
-1,480
8,089,530
2,109,986
1,925,761
41,038
479,752
-1,493
8,140,417
2,118,936
1,871,892
58,815
5,535
1,574
95,678
23,810
28,082
240
5,564
1,567
96,517
24,366
28,136
231
5,634
1,579
97,474
24,873
28,506
242
5,684
1,583
98,425
25,144
28,782
241
5,775
1,610
99,321
25,248
29,451
280
5,822
1,608
99,970
25,606
33,035
318
5,844
1,613
100,498
25,866
30,842
479
1,703,372
1,739,753
1,884,723
1,813,077
27,842
27,906
28,265
28,541
29,171
32,717
30,363
6,458,968
1,467,660
6,510,855
1,483,854
6,523,865
1,494,244
6,564,404
1,502,415
76,842
18,655
77,363
18,833
78,218
19,043
79,080
19,177
79,792
19,412
80,402
19,641
80,930
19,755
12,739
14
969,580
979,548
988,204
997,564
1,006,862
1,015,926
1,022,663
13,120
13,269
13,410
13,493
13,637
13,818
13,912
15
16
17
18
462,152
1,023,182
24,554
998,628
461,856
1,034,775
26,687
1,008,088
465,500
1,050,324
34,208
1,016,116
470,096
1,058,111
32,119
1,025,992
476,992
1,062,589
33,187
1,029,402
478,318
1,068,134
29,819
1,038,315
479,752
1,073,643
26,095
1,047,548
5,535
10,720
546
10,174
5,564
10,926
679
10,247
5,634
10,932
694
10,238
5,684
10,982
659
10,322
5,775
11,136
902
10,234
5,822
11,058
708
10,350
5,844
10,988
582
10,406
19
47,202
8,694,752
7,263,337
27,838
114,205
88,246
546,355
1,066,716
675,445
391,272
460,679
544,496
287,632
307,597
706,237
199,351
848,670
208,237
331,293
117,404
821,912
90,925
246,131
249,411
1,431,415
274,648
143,895
1,012,872
49,741
8,730,490
7,285,238
28,510
119,283
89,919
545,855
1,064,495
677,907
386,588
467,821
548,410
297,798
312,221
673,553
196,533
859,790
205,013
333,938
119,081
832,241
91,383
247,705
251,690
1,445,252
275,221
145,707
1,024,324
57,497
8,817,535
7,354,898
28,728
121,746
91,363
544,777
1,062,275
679,275
383,000
472,374
549,317
289,674
318,559
694,368
191,111
879,239
209,818
338,498
121,449
843,710
92,574
250,642
254,675
1,462,638
275,120
147,617
1,039,901
55,464
8,929,275
7,452,535
28,884
126,686
92,831
542,481
1,071,386
681,982
389,404
481,029
553,685
292,863
326,651
699,114
188,337
902,496
213,088
343,307
124,146
858,266
93,993
254,915
258,376
1,476,739
274,947
147,453
1,054,339
56,782
9,000,516
7,499,017
28,632
133,357
95,196
533,880
1,071,388
679,437
391,951
481,875
551,740
295,281
328,138
711,771
190,917
914,406
213,285
343,820
125,699
871,006
93,453
254,568
260,604
1,501,500
282,380
152,973
1,066,147
53,625
9,032,619
7,511,028
28,714
138,960
95,047
525,538
1,072,029
679,515
392,514
484,860
552,762
292,653
331,160
693,084
189,231
928,635
212,465
342,309
127,813
882,664
94,766
256,103
262,235
1,521,590
286,111
155,299
1,080,181
50,096
9,090,366
7,549,461
28,289
151,667
94,730
521,531
1,069,909
677,401
392,508
485,771
553,050
290,185
334,046
693,027
191,107
940,386
214,776
342,358
130,156
893,869
93,143
256,774
264,688
1,540,905
288,608
159,146
1,093,151
721
105,496
83,265
589
1,079
1,485
6,748
18,143
11,548
6,595
5,434
7,629
3,434
1,762
5,422
1,672
8,421
1,196
3,108
737
10,032
441
2,498
3,434
22,231
5,222
858
106,264
83,947
605
1,114
1,483
6,799
18,240
11,714
6,526
5,529
7,692
3,549
1,735
5,339
1,664
8,489
1,240
3,164
761
10,125
453
2,547
3,421
22,317
5,230
2,247
14,840
875
107,319
84,714
597
1,133
1,630
6,815
18,316
11,776
6,540
5,549
7,704
3,482
1,797
5,725
1,625
8,524
1,171
3,208
791
10,178
455
2,570
3,445
22,604
5,244
2,254
15,107
842
108,397
85,367
577
1,151
1,556
7,038
18,306
11,721
6,585
5,659
7,719
3,593
1,683
5,417
1,611
8,767
1,256
3,263
774
10,415
457
2,627
3,498
23,030
5,261
2,248
15,521
1,086
109,255
85,946
579
1,197
1,545
6,801
18,520
11,909
6,610
5,686
7,696
3,530
1,741
5,834
1,595
8,838
1,166
3,323
753
10,518
457
2,631
3,536
23,308
5,380
2,342
15,586
894
110,207
86,466
581
1,259
1,470
6,756
18,584
11,965
6,619
5,773
7,685
3,520
1,761
5,752
1,609
9,114
1,213
3,357
753
10,580
455
2,683
3,560
23,741
5,436
2,392
15,913
770
110,903
86,830
573
1,372
1,472
6,713
18,530
11,918
6,612
5,784
7,699
3,497
1,775
5,737
1,640
9,248
1,231
3,356
761
10,709
448
2,693
3,591
24,073
5,505
2,446
16,122
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
2,220
14,788
January 2009
Su r v e y
of
77
C u r r e n t B u sin ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
Alaska
Arizona
2007
I
2008
III
II
IV
lr
II'
Arkansas
2007
II| p
2007
2008
I
II
III
IV
I'
II'
II| p
I
II
Line
2008
III
IV
lr
II'
III?
26,889
27,224
27,390
27,673
29,062
29,615
29,844
205,894
207,005
210,081
211,199
212,953
215,533
214,789
83,153
84,260
85,431
88,466
87,407
90,015
89,306
1
22,308
2,213
22,610
2,231
22,649
2,225
22,918
2,247
23,280
2,309
23,541
2,336
23,883
2,367
153,878
17,515
153,704
17,414
155,388
17,579
155,480
17,541
156,526
17,848
155,639
17,743
155,612
17,681
58,536
6,918
59,302
6,969
59,902
6,997
63,005
7,348
61,137
7,203
61,662
7,274
61,908
7,303
3
1,080
1,092
1,092
1,103
1,136
1,150
1,166
9,199
9,138
9,205
9,179
9,362
9,310
9,281
3,703
3,733
3,743
3,953
3,862
3,903
3,921
4
1,173
-1,397
19,574
3,984
5,504
89
1,186
-1,411
19,794
4,052
5,769
103
1,201
-1,437
20,079
4,096
5,669
109
8,316
707
137,069
36,292
32,532
272
8,276
719
137,009
37,361
32,635
282
8,373
731
138,540
38,343
33,198
319
8,362
778
138,717
38,847
33,635
351
8,486
764
139,442
38,890
34,621
414
8,432
768
138,664
39,253
37,616
459
8,401
777
138,708
39,594
36,487
640
3,216
-310
51,307
14,199
17,647
297
3,236
-320
52,013
14,553
17,694
303
3,254
-308
52,597
14,885
17,949
323
3,395
-409
55,247
15,094
18,124
318
3,341
-316
53,618
15,239
18,550
332
3,371
-329
54,058
15,462
20,495
360
3,382
-328
54,277
15,520
19,509
482
10
2
1,133
-1,309
18,786
3,771
4,331
91
1,139
-1,343
19,036
3,851
4,336
87
1,133
-1,345
19,080
3,925
4,385
89
1,144
-1,378
19,293
3,966
4,414
82
4,241
4,249
4,296
4,332
5,415
5,666
5,560
32,260
32,353
32,879
33,284
34,208
37,157
35,847
17,350
17,391
17,626
17,806
18,218
20,135
19,028
11
15,208
4,676
15,440
4,733
15,487
4,727
15,715
4,754
16,004
4,863
16,168
4,949
16,435
5,008
114,903
24,317
114,652
24,423
116,003
24,754
116,232
24,744
117,163
25,080
116,338
25,028
116,260
25,032
41,496
10,286
41,965
10,426
42,222
10,526
44,777
11,081
43,242
10,740
43,632
10,862
43,936
10,915
13
3,543
3,594
3,595
3,610
3,691
3,762
3,807
16,000
16,147
16,380
16,382
16,594
16,596
16,631
7,070
7,190
7,272
7,685
7,400
7,491
7,533
14
1,133
2,424
1,139
2,437
1,133
2,435
1,144
2,449
1,173
2,413
1,186
2,424
1,201
2,440
0
1
2
-10
-10
-12
2,424
2,436
2,434
2,447
2,422
2,435
2,452
8,276
14,630
179
14,451
8,373
14,631
257
14,374
8,362
14,504
206
14,298
8,486
14,283
105
14,178
8,432
14,273
1
8,316
14,658
164
14,494
14,205
8,401
14,320
31
14,289
3,216
6,754
832
5,922
3,236
6,911
940
5,971
3,254
7,153
1,185
5,968
3,395
7,147
1,129
6,018
3,341
7,155
1,136
6,019
3,371
7,168
1,091
6,077
3,382
7,056
958
6,098
15
16
17
18
14
22,294
14,936
205
1,697
199
1,700
794
186
608
425
1,379
1,475
484
680
383
1,256
108
576
113
1,981
191
742
548
7,359
1,659
2,196
3,504
14
22,596
15,243
207
1,775
15
22,634
15,251
207
1,847
16
22,902
15,555
4
23,276
15,729
189
1,968
219
1,760
824
197
627
453
1,415
1,509
513
725
373
1,381
107
623
113
2,045
190
759
563
7,547
1,683
2,231
3,633
3
23,538
15,874
193
1,986
2
768
154,620
128,343
465
1,193
1,435
13,588
14,449
12,113
2,337
8,499
12,567
4,649
3,216
10,257
5,007
12,937
2,502
9,138
1,733
15,689
1,610
5,354
4,052
26,277
4,937
2,391
18,949
717
154,763
128,210
455
1,249
1,429
12,995
14,390
11,954
2,437
8,545
12,587
4,535
3,258
9,909
4,803
13,260
2,481
9,219
1,819
15,933
1,698
5,548
4,098
26,553
4,965
2,389
19,198
622
155,904
128,618
439
1,459
1,511
12,410
14,524
12,152
2,372
8,443
12,479
4,608
3,307
9,993
5,095
13,340
2,337
9,347
1,872
16,296
1,708
5,396
4,056
27,285
5,116
2,470
19,699
589
155,049
127,799
444
1,405
1,475
11,991
14,429
11,994
2,435
8,399
12,345
4,507
3,284
9,965
4,963
13,303
2,388
9,177
1,913
16,707
1,651
5,404
4,049
27,251
5,241
2,483
19,526
557
155,055
127,486
437
1,542
1,472
11,502
14,419
11,993
2,426
8,405
12,180
4,440
3,277
9,939
5,062
13,432
2,400
9,075
1,956
16,952
1,644
5,361
3,992
27,569
5,330
2,533
19,707
1,096
57,440
46,397
547
1,211
1,461
58,441
47,061
529
737
655
3,186
9,354
5,120
4,234
3,113
4,008
3,390
1,849
2,381
884
3,142
2,107
1,558
382
6,331
313
1,420
1,723
11,380
1,870
1,070
8,440
1,407
61,598
50,225
526
776
653
3,235
9,355
5,086
4,269
3,158
4,054
3,446
4,571
2,381
872
3,200
2,036
1,596
397
6,459
327
1,440
1,744
11,373
1,860
1,073
8,440
1,417
59,720
48,154
542
810
706
3,231
9,341
5,074
4,267
3,212
4,093
3,358
1,973
2,447
883
3,214
2,176
1,641
392
6,586
339
1,454
1,755
11,567
1,893
1,374
60,287
48,668
532
1,243
60,665
48,937
524
967
734
3,214
9,330
5,045
4,285
3,280
4,134
3,348
2,050
2,461
891
3,301
2,287
1,676
409
6,743
308
1,475
1,802
11,727
1,928
1,154
8,646
200
212
1,706
841
185
657
428
1,380
1,538
495
695
383
1,285
1,702
819
188
631
435
1,385
1,455
492
694
369
1,313
115
586
114
1,997
199
759
551
7,383
1,658
2,148
3,577
102
586
115
2,005
199
751
552
7,353
1,657
2,154
3,543
202
1,902
214
1,730
855
199
656
444
1,415
1,479
500
702
364
1,361
105
605
111
2,037
201
766
562
7,347
1,658
2,124
3,565
23,881
16,129
192
2,197
221
220
1,704
841
197
644
457
1,408
1,507
541
727
366
1,431
106
621
113
2,107
198
774
573
7,664
1,714
2,316
3,634
1,693
841
196
645
450
1,408
1,486
552
733
374
1,463
108
622
114
2,139
196
762
579
7,753
1,722
2,347
3,684
662
153,216
127,854
462
1,034
1,331
14,304
14,333
12,030
2,303
8,397
12,457
4,702
3,154
10,791
5,263
12,361
2,484
9,010
1,643
15,153
1,616
5,414
3,944
25,362
4,868
2,329
18,165
685
153,019
127,649
491
1,129
1,353
13,789
14,590
12,295
2,295
8,573
12,618
4,728
3,161
10,572
5,168
12,494
2,096
8,923
1,695
15,282
1,555
5,414
4,019
25,370
4,896
2,366
18,108
68
666
624
3,268
9,460
5,158
4,302
3,016
3,924
3,384
1,676
2,328
913
3,012
2,039
1,499
369
6,274
300
1,391
1,707
11,043
1,880
1,021
8,141
58,091
47,026
538
698
661
3,256
9,409
5,095
4,314
3,057
4,002
3,470
1,751
2,347
908
3,136
2,093
1,535
376
6,352
307
1,401
1,728
11,065
1,876
1,047
8,142
1,111
8,562
886
736
3,219
9,339
5,061
4,278
3,261
4,124
3,392
2,031
2,465
883
3,256
2,252
1,671
403
6,649
312
1,470
1,789
11,619
1,910
1,131
8,578
5
6
7
8
9
12
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
78
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
California
Item
Line
2007
I
Income by place of residence
Personal income (lines 2 -11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5 ...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction
Manufacturing
Durable goods
Nondurable goods................................................
Wholesale trade
Retail trade
Transportation and warehousing..............................
Information
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services...............................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military......................................................................
State and local.........................................................
See the footnotes at the end of the table.
Colorado
II
2008
III
IV
I'
II'
2007
lllp
I
II
2008
III
IV
I'
II'
IN'1
1 1,491,280 1,510,395 1,529,991 1,547,832 1,548,576 1,575,481 1,579,156
194,703
197,395
200,794
204,766
206,383
208,774
209,969
2 1,149,809 1,159,832 1,169,590 1,182,527 1,179,969 1,189,607 1,195,271
3
4
5
6
7
8
9
10
126,071
126,432
126,951
127,959
129,007
130,159
130,351
155,921
15,948
157,725
16,042
160,197
16,242
163,944
16,619
165,314
16,862
165,692
16,906
167,180
17,007
64,751
64,736
64,741
65,127
65,826
66,470
66,597
8,021
8,074
8,177
8,367
8,510
8,539
8,595
61,697
62,832
63,754
61,320
62,210
63,181
63,689
-192
-170
-173
-143
-133
-180
-168
1,023,568 1,033,208 1,042,465 1,054,424 1,050,829 1,059,268 1,064,752
276,089
285,012
293,083
296,815
296,584
299,825
303,508
191,624
196,594 201,162
192,175
194,443
216,388
210,895
4,879
5,360
6,115
6,358
8,946
4,613
4,783
7,928
432
140,405
34,512
19,786
295
7,968
434
142,117
35,456
19,822
286
8,065
437
144,391
36,306
20,097
308
8,252
436
147,761
36,712
20,292
307
8,352
445
148,897
36,689
20,797
367
8,367
448
149,233
37,112
22,429
382
8,411
451
150,625
37,524
21,820
589
11
187,010
187,392
189,564
191,234
195,047
210,029
201,950
19,491
19,536
19,790
19,985
20,431
22,046
21,231
12
13
813,746
187,625
821,086
189,962
828,135
191,307
839,164
193,197
838,260
193,411
845,157
196,018
848,917
196,742
108,316
23,924
109,455
24,199
111,292
24,582
114,397
25,102
114,993
25,383
115,208
25,538
116,266
25,748
14
126,305
128,265
129,096
130,365
130,231
132,329
132,988
15,997
16,231
16,516
16,850
17,031
17,171
17,336
15
16
17
18
61,320
148,438
3,515
144,923
61,697
148,784
3,366
145,417
62,210
150,148
4,518
145,631
62,832
150,166
3,971
146,195
63,181
148,298
2,922
145,376
63,689
148,432
2,443
145,989
63,754
149,612
2,463
147,150
7,928
23,681
8,065
24,323
183
24,141
8,252
24,445
115
24,330
8,352
24,938
23,683
7,968
24,070
134
23,937
8,367
24,946
26
24,920
8,411
25,167
-118
25,284
8,662
9,872
9,341
7,984
8,710
8,350
7,920
1,141,099 1,151,170 1,159,718 1,173,186 1,171,619 1,181,686 1,187,286
954,899
962,205
968,404
978,500
976,417
983,109
986,700
6,584
6,911
6,919
6,909
7,039
6,924
6,908
5,671
4,403
4,498
4,709
4,887
4,995
5,203
11,749
11,610
12,220
12,565
12,650
12,793
12,785
68,687
78,035
76,720
74,759
72,816
69,926
67,768
134,017
132,466
133,577
134,175
135,023
132,033
134,349
91,093
93,198
94,143
94,512
91,483
93,220
92,762
40,379
41,373
40,032
40,511
40,550
41,130
41,255
60,752
58,356
59,075
60,100
60,796
60,361
60,586
73,459
73,628
74,289
74,602
73,181
73,762
73,595
31,621
31,847
32,287
32,828
32,300
32,631
32,605
57,984
64,025
55,978
59,686
59,255
60,275
63,159
79,327
78,987
80,909
80,163
79,013
75,380
75,120
31,362
32,027
33,505
32,951
31,769
31,419
32,073
140,652
147,212
152,214
135,236
136,955
145,275
150,369
22,270
23,007
22,548
22,473
22,590
22,303
22,143
45,852
45,624
44,433
44,505
45,296
45,451
45,318
14,799
13,863
14,170
14,449
13,065
13,293
13,560
94,117
96,091
100,588
91,348
92,399
97,643
99,288
17,867
17,343
17,338
17,578
18,168
18,100
18,196
33,639
33,920
34,297
34,440
32,485
32,775
33,199
33,604
31,761
32,116
32,542
33,065
33,228
33,865
191,314
194,686
195,202
198,577
200,586
186,200
188,965
23,896
23,760
24,597
24,917
25,012
23,878
23,875
15,937
16,232
16,459
16,524
17,138
17,456
17,886
146,384
154,402
156,204
157,688
148,858
150,959
153,466
503
155,418
131,264
230
4,412
1,104
11,957
11,761
8,156
3,605
8,045
8,882
4,228
11,867
10,825
5,003
18,709
3,647
6,178
1,379
11,604
2,036
4,833
4,563
24,154
5,192
3,312
15,650
647
157,078
132,817
237
4,532
1,080
699
159,497
134,506
242
4,666
1,081
12,244
11,581
8,154
3,426
8,381
9,039
4,241
12,437
11,117
4,793
19,329
3,604
6,483
1,477
11,939
2,134
5,027
4,691
24,992
5,191
3,467
16,334
632
163,311
138,007
245
5,061
1,038
12,161
11,786
8,260
3,526
8,477
9,208
4,370
12,742
11,268
4,892
20,368
3,882
6,605
1,457
12,360
2,174
5,136
4,777
25,304
5,179
3,472
16,653
725
164,589
138,836
245
5,543
1,261
11,928
11,802
8,136
3,665
8,776
9,220
4,405
13,019
11,605
4,698
19,951
3,722
6,607
1,483
12,417
2,140
5,157
4,855
25,753
5,278
3,635
16,840
553
165,138
139,153
247
5,723
1,158
11,754
11,976
8,088
3,888
414
166,766
140,315
244
6,248
1,156
11,651
11,806
8,097
3,709
8,669
9,200
4,264
13,184
11,329
4,838
20,763
3,729
6,604
1,526
12,860
2,104
5,191
4,950
26,450
5,418
3,769
17,262
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
-2
12,210
11,487
8,073
3,414
8,304
8,987
4,388
12,176
10,874
4,957
18,894
3,567
6,396
1,415
11,659
2,065
4,961
4,630
24,261
5,200
3,383
15,679
202
24,736
8,666
9,176
4,301
13,025
11,272
4,739
20,451
3,664
6,609
1,502
12,647
2,149
5,190
4,904
25,985
5,366
3,673
16,946
January 2009
Su r v ey
of
79
C u r r e n t B u s in ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
Connecticut
District of Columbia
Delaware
2007
2007
2008
II
I
2007
2008
III
IV
I'
llr
II| p
I
II
Line
2008
IV
III
II'
I'
IMP
I
II
III
IV
r
II'
II| p
189,817
190,820
194,193
195,448
196,044
197,407
198,333
34,255
34,519
34,841
34,947
35,392
35,743
35,793
35,410
35,716
36,545
36,806
37,359
37,738
37,996
1
140,194
13,972
140,213
13,891
141,821
13,986
142,178
13,976
142,572
14,151
143,185
14,216
143,798
14,231
28,602
3,109
28,752
3,113
28,799
3,104
28,727
3,084
29,141
3,157
28,939
3,137
29,073
3,143
71,864
6,743
72,085
6,738
73,971
6,917
73,954
6,889
75,872
7,146
75,788
7,130
76,619
7,190
3
1,647
3,280
3,280
3,368
3,350
3,481
3,473
3,502
4
7,358
7,298
7,333
7,307
7,412
7,454
7,462
1,618
1,622
1,621
1,611
1,653
1,643
6,614
5,859
132,081
36,667
21,070
542
6,593
5,360
131,682
38,051
21,087
522
6,653
5,725
133,560
39,294
21,339
562
6,669
5,949
134,151
39,786
21,511
570
6,738
6,194
134,615
39,475
21,954
642
6,762
5,954
134,924
39,402
23,082
662
6,768
6,017
135,585
39,753
22,994
1,025
1,491
-2,190
23,303
5,871
5,082
113
1,491
- 2,221
23,418
6,013
5,088
106
1,484
-2,154
23,540
6,142
5,159
108
1,473
-2,118
23,524
6,203
5,220
115
1,504
-2,146
23,838
6,206
5,349
121
1,494
-2,097
23,705
6,273
5,765
134
20,528
20,565
20,777
20,940
21,312
22,419
21,969
4,969
4,982
5,051
5,105
5,227
5,631
5,445
4,139
4,148
4,195
4,231
4,314
100,963
21,316
100,850
21,342
102,009
21,592
102,271
21,564
102,530
102,951
21,856
103,327
21,925
21,142
4,692
21,204
4,720
21,222
21,686
4,709
21,158
4,682
21,456
4,735
21,290
4,715
21,395
4,735
53,022
14,409
53,088
14,495
54,588
14,780
54,478
14,712
14,701
14,749
14,939
14,895
14,948
15,094
15,157
3,201
3,229
3,225
3,209
3,231
3,221
3,239
10,946
11,038
11,231
6,614
17,915
6,593
18,022
3
18,019
6,653
18,220
6,669
18,343
14
18,329
6,738
18,356
5
18,350
6,762
18,379
6,768
18,546
1,491
2,767
141
2,626
1,491
2,827
170
2,657
1,484
1,473
2,868
2,886
1,494
2,934
187
2,747
1,496
2,944
175
2,768
3,463
4,434
3,457
4,501
175
28,426
24,244
205
28,547
24,520
224
28,715
24,440
23
38
269
1,796
2
0
18,377
18,546
141
134
127
127
147
132
140,067 140,086 141,674 142,037 142,438 143,054
122,700 122,704 123,476 124,079 124,173 124,745
45
47
50
46
46
50
253
268
283
233
238
243
1,274
1,338
1,254
1,261
1,320
1,370
7,082
7,084
6,944
6,912
7,038
6,670
19,214
19,683
19,563
19,019
19,431
19,676
13,414
14,060
14,108
13,967
13,588
13,780
5,626
5,623
5,456
5,606
5,651
5,709
6,971
6,841
7,053
7,060
6,751
6,915
8,107
8,207
8,129
7,996
8,053
8,092
2,697
2,783
2,775
2,679
3,060
2,813
4,181
4,221
4,252
4,019
4,161
4,166
23,007
24,209
23,867
23,020
23,356
23,393
2,753
2,564
2,567
2,586
2,570
2,526
13,415
13,477
13,608
13,966
14,049
14,160
4,960
4,593
4,753
4,600
5,237
4,725
4,642
4,619
4,405
4,450
4,506
4,591
3,211
2,924
2,961
3,037
3,086
3,160
14,349
14,704
13,803
14,620
13,959
13,975
1,057
1,098
1,053
1,084
1,031
1,068
2,760
2,679
2,681
2,705
2,746
2,776
3,337
3,393
3,406
3,421
3,328
3,379
17,367
17,958
18,265
17,382
18,198
18,308
1,738
1,777
1,782
1,783
1,766
1,756
907
930
931
917
918
936
14,654
15,313
15,570
15,590
14,685
15,525
131
143,667
125,145
46
307
1,369
6,579
19,623
13,940
5,683
7,098
8,133
2,651
4,295
23,295
2,577
14,320
4,764
4,620
3,274
14,882
1,067
2,794
3,450
18,522
1,784
982
15,756
6
17,909
20
18,200
21
21
31
232
1,877
3,033
1,477
1,556
1,370
1,772
629
537
4,157
490
3,106
1,148
908
272
2,871
292
718
780
4,183
464
455
3,264
32
249
1,871
3,205
1,646
1,559
1,272
1,797
645
535
4,253
502
3,160
1,048
914
284
2,927
296
714
793
4,027
482
463
3,081
179
2,689
170
2,716
1,504
2,950
232
2,718
214
28,585
24,235
23
32
251
1,860
2,994
1,470
1,524
1,307
1,804
624
562
4,008
494
3,179
1,075
889
305
3,014
298
717
798
4,350
477
479
3,395
206
28,521
24,308
268
28,873
24,543
22
22
34
247
1,787
3,222
1,628
1,594
1,368
1,805
626
568
3,686
478
3,230
36
271
1,785
2,930
1,338
1,592
1,309
1,816
631
582
4,014
477
3,377
1,110
1,101
1,112
942
302
3,031
293
743
815
4,213
469
473
3,271
934
305
3,102
295
729
828
4,330
470
498
3,362
945
312
3,119
296
738
831
4,275
492
512
3,271
2,868
1,288
1,580
1,315
1,783
633
581
3,908
481
3,392
2
3,688
3,463
3,457
3,549
3,539
3,665
3,658
- 2,100 -39,125 -39,207 -40,276 -40,113 -41,277 -41,176 -41,646
26,952
27,482
27,783
25,996
26,140
26,778
27,449
23,831
5,564
5,636
5,219
5,374
5,512
5,561
5,533
6,338
4,292
4,692
4,576
4,196
4,203
4,255
4,378
5,625
113
61
64
69
180
56
56
60
10
4,624
4,463
11
55,951
15,152
55,730
15,220
56,343
15,368
12
11,173
11,487
11,563
11,681
14
3,549
4,602
3,539
4,764
3,665
4,770
3,658
4,838
3,688
4,908
0
0
0
4,770
4,838
4,908
15
16
17
18
1,496
0
0
0
0
4,434
4,501
4,602
4,764
5
6
7
8
9
13
212
0
0
0
0
0
0
0
19
28,862
24,524
23
41
268
1,782
2,864
1,283
1,581
1,320
1,786
629
587
3,888
490
3,432
1,125
943
317
3,160
290
740
839
4,337
504
522
3,310
71,864
42,786
950
72,085
42,981
960
73,971
44,602
968
73,954
44,793
957
75,872
45,666
957
75,788
45,271
966
76,619
45,798
948
13
284
905
183
62
20
21
22
10
10
10
11
12
12
276
889
181
53
128
553
681
354
2,733
2,906
1,168
16,771
411
2,116
269
877
184
65
119
552
675
350
2,788
2,586
1,147
17,089
439
2,115
285
906
185
64
303
924
177
57
119
600
674
344
2,800
2,832
1,145
18,056
380
2,195
2,343
3,756
448
1,842
5,006
29,161
24,076
2,080
3,005
332
971
182
59
123
572
663
371
2,978
2,820
1,135
18,273
466
2,248
2,412
3,791
489
1,834
5,158
30,206
24,714
2,140
3,352
285
885
183
62
2,220
2,221
3,619
424
1,773
4,752
29,078
24,061
2,039
2,978
3,670
433
1,778
4,838
29,103
24,118
2,067
2,919
121
584
669
341
2,836
3,073
1,169
17,699
624
2,147
2,273
3,672
459
1,793
4,910
29,368
24,119
2,090
3,159
120
121
568
685
343
2,800
2,551
1,154
18,427
322
2,275
2,465
3,718
524
567
683
343
2,824
2,532
1,181
18,672
327
2,315
2,501
3,795
514
1,889
5,322
30,821
25,303
2,176
3,342
1,868
5,241
30,517
25,059
2,145
3,313
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
80
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Florida
Item
Line
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities....
Construction
Manufacturing
Durable goods
Nondurable goods................................................
Wholesale trade
Retail traae..............................................................
Transportation and warehousing..............................
Information..............................................................
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Georgia
2007
II
2008
III
IV
I'
II'
2007
HIP
I
II
2008
III
IV
lr
II'
II| p
1
689,443
694,417
705,336
708,060
711,068
721,956
719,883
315,471
317,353
320,704
322,273
325,893
332,637
330,135
2
3
446,357
51,151
445,343
50,830
450,172
51,287
448,597
50,945
448,681
51,407
447,688
51,286
449,286
51,310
250,744
26,564
251,116
26,463
252,818
26,598
253,121
26,538
256,262
27,133
256,252
27,142
256,860
27,139
4
27,788
27,705
27,993
27,840
28,155
28,103
28,123
14,015
13,994
14,074
14,053
14,397
14,411
14,413
5
23,125
1,845
396,358
188,608
109,451
1,075
23,294
1,872
400,756
193,597
110,982
10
23,364
1,849
397,054
183,263
109,127
994
1,222
23,105
1,915
399,567
196,399
112,094
1,269
23,252
1,950
399,224
196,919
114,926
1,670
23,183
1,954
398,356
198,332
125,268
1,847
23,187
1,969
399,945
199,403
120,535
2,851
12,550
- 1,011
223,169
49,193
43,109
602
12,469
-990
223,663
50,491
43,198
593
12,525
-984
225,235
51,671
43,798
637
12,485
-933
225,650
52,288
44,334
746
12,737
-980
228,149
52,355
45,389
824
12,730
-985
228,125
52,978
51,534
909
12,726
-981
228,740
53,483
47,912
1,473
11
108,133
108,376
109,760
110,825
113,255
123,421
117,684
42,507
42,605
43,161
43,589
44,565
50,625
46,439
12
334,733
71,925
333,647
71,863
337,278
72,696
336,262
72,340
336,095
72,735
334,956
72,961
336,039
73,164
182,339
41,576
182,170
41,814
183,428
42,096
183,680
42,044
185,978
42,802
185,883
43,013
186,375
43,122
6
7
8
9
13
14
48,561
48,738
49,402
49,235
49,483
49,778
49,977
29,026
29,345
29,571
29,559
30,065
30,283
30,397
15
16
17
18
23,364
39,699
234
39,465
23,125
39,833
84
39,749
23,294
40,198
219
39,979
23,105
39,995
80
39,914
23,252
39,851
196
39,655
23,183
39,771
96
39,675
23,187
40,082
117
39,965
12,550
26,829
1,093
25,737
12,469
27,132
1,217
25,915
12,525
27,294
1,280
26,014
12,485
27,396
1,169
26,227
12,737
27,482
1,127
26,355
12,730
27,356
878
26,478
12,726
27,362
749
26,614
19
1,676
444,681
372,425
1,550
443,793
372,966
1,722
748
2,953
35,904
26,592
18,679
7,913
26,078
34,511
14,056
13,977
31,396
13,272
40,771
8,379
28,837
4,967
47,029
8,507
18,024
15,244
70,827
12,089
7,872
50,865
1,699
448,472
375,072
1,803
763
3,009
35,626
26,543
18,635
7,908
26,381
34,729
13,769
14,224
31,915
12,904
40,939
8,540
28,528
5,128
47,927
8,432
18,360
15,551
73,400
12,071
7,907
53,421
1,564
447,033
373,056
1,861
796
3,045
33,653
26,254
18,348
7,906
26,617
34,217
14,155
14,540
31,622
12,556
41,547
8,315
27,625
5,252
48,511
8,485
18,367
15,638
73,977
12,108
7,802
54,067
1,695
446,986
371,503
1,908
835
3,221
31,967
26,160
18,131
8,029
26,266
34,295
14,153
14,485
31,403
12,661
42,413
7,793
26,839
5,370
49,291
8,627
18,288
15,527
75,484
12,771
8,077
54,636
1,609
446,079
369,238
1,939
840
3,279
30,652
25,862
17,959
7,902
26,144
34,155
14,069
14,695
30,845
12,588
42,247
7,991
26,054
5,412
49,914
8,696
18,353
15,502
76,841
12,908
8,226
55,707
1,642
447,644
369,959
1,907
913
3,278
30,151
25,746
17,840
7,906
26,222
34,105
13,920
14,749
30,640
12,863
42,681
8,114
25,878
5,523
50,693
8,537
18,405
15,634
77,684
12,946
8,374
56,364
1,443
249,301
206,575
802
685
3,235
15,211
27,661
13,425
14,236
17,450
16,064
10,280
14,227
16,225
6,106
22,327
6,305
11,164
3,117
19,923
1,805
7,174
6,815
42,727
9,231
7,299
26,196
1,572
249,544
206,300
796
653
3,196
15,106
27,414
13,366
14,048
17,499
15,989
11,943
13,681
15,703
6,087
22,594
5,481
11,156
3,139
20,175
1,756
7,114
6,819
43,244
9,286
7,420
26,538
1,636
251,182
207,290
784
642
3,391
14,604
27,411
13,474
13,937
17,737
16,017
11,461
13,580
15,897
5,806
23,147
5,582
11,272
3,225
20,769
1,828
7,226
6,910
43,892
9,302
7,493
27,097
1,525
251,596
207,214
784
643
3,289
14,610
27,476
13,285
14,191
17,980
16,045
10,794
13,713
15,814
5,851
23,831
4,951
11,327
3,323
20,714
1,862
7,314
6,893
44,382
9,320
7,526
27,535
1,487
254,776
209,224
776
576
3,306
14,367
27,616
13,473
14,143
17,916
15,898
11,259
13,982
16,510
5,788
24,064
5,232
11,435
3,334
21,174
1,823
7,310
6,858
45,552
9,630
7,909
28,012
1,240
255,012
208,891
768
602
3,419
14,021
27,325
13,290
14,035
18,020
15,878
10,887
14,080
16,086
5,720
24,550
5,354
11,348
3,377
21,334
1,882
7,346
6,894
46,121
9,666
8,138
28,318
1,114
255,746
209,185
757
655
3,404
13,688
27,177
13,215
13,962
17,974
15,913
10,773
14,183
16,066
5,851
24,858
5,407
11,275
3,448
21,583
1,858
7,374
6,942
46,561
9,791
8,299
28,471
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
1,668
784
2,858
36,774
26,258
18,349
7,909
25,752
34,501
13,748
13,756
32,183
13,500
39,958
8,196
29,872
4,866
46,473
8,293
17,723
15,262
72,255
12,076
7,869
52,310
January 2009
Su r v ey
of
81
C u r r e n t B u sin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
Hawaii
Idaho
2007
I
II
2007
2008
III
IV
lr
Illinois
II| p
II'
I
II
2007
2008
III
IV
lr
Line
2008
II 1
II| p
I
II
III
IV
r
llr
III”
49,247
49,711
50,557
51,003
51,649
52,426
52,556
46,704
47,176
47,739
48,525
48,277
49,095
48,952
517,209
521,232
528,006
537,231
539,072
547,789
548,473
1
39,007
4,018
39,222
4,007
39,801
4,046
40,085
4,057
40,682
4,165
40,855
4,178
41,091
4,184
33,827
3,909
34,008
3,888
34,186
3,874
34,791
3,936
34,232
3,926
34,231
3,943
34,288
3,948
398,534
42,887
400,174
42,830
404,191
43,023
412,541
43,796
412,871
44,172
414,804
44,323
416,880
44,367
2
2,069
2,074
2,101
2,110
2,171
2,180
2,185
1,930
1,932
1,931
1,964
1,967
1,977
1,980
21,795
21,808
21,919
22,323
22,571
22,665
22,698
4
21,021
21,473
-2,077
366,668
98,242
72,321
1,829
21,600
-1,980
366,719
98,313
74,040
2,035
21,658
-1,995
368,486
99,255
80,048
2,273
21,668
5
-1,994
370,519
99,923
78,031
3,125
6
10
36,907
8,433
7,215
272
1,979
704
30,622
9,100
6,982
126
1,956
720
30,840
9,344
6,993
119
1,943
745
31,058
9,572
7,109
137
1,972
757
31,612
9,715
7,199
150
1,959
767
31,073
9,795
7,409
186
1,966
767
31,054
9,946
8,095
223
1,968
775
31,115
10,019
7,819
283
21,092
-1,970
353,677
92,876
70,656
1,840
-1,968
355,376
95,133
70,723
1,754
21,104
-1,969
359,199
97,191
71,616
1,786
7,199
6,943
6,856
6,873
6,972
7,049
7,223
7,872
7,536
68,817
68,969
69,830
70,492
72,005
77,775
74,906
11
29,495
8,299
29,569
8,377
29,713
8,444
23,369
5,655
23,434
5,690
23,481
5,676
23,969
5,770
23,721
5,748
23,810
5,806
23,910
5,828
289,531
63,743
290,586
64,124
292,993
64,491
299,620
65,588
299,413
65,815
300,199
66,348
301,398
66,521
12
6,305
6,379
6,445
3,676
3,733
3,733
3,798
3,789
3,840
3,860
42,650
43,102
43,388
44,114
44,214
44,691
44,853
14
1,994
1,998
2,908
-64
2,972
1,999
2,935
-60
2,995
1,979
4,804
460
4,344
1,956
4,884
533
4,352
1,943
5,029
1,972
5,051
577
4,474
1,959
4,763
426
4,337
1,966
4,615
264
4,351
1,968
4,550
172
4,378
21,092
45,260
1,766
43,494
21,021
21,104
46,707
2,157
44,550
21,473
47,333
2,274
45,059
21,600
47,643
2,329
45,314
21,658
48,257
2,578
45,679
21,668
48,962
2,714
46,248
15
16
17
18
161
40,694
27,099
55
62
325
3,213
1,025
395
630
166
40,925
27,042
54
67
327
3,169
1,023
399
623
1,219
2,546
1,487
747
1,318
1,003
2,535
667
1,620
598
3,550
466
3,346
1,299
13,883
3,177
5,208
5,498
971
32,856
26,977
416
1,051
32,957
26,850
423
226
274
2,928
4,286
3,015
1,271
1,620
2,878
1,035
536
1,485
545
3,083
767
1,294
283
3,149
316
891
832
6,106
1,125
573
4,409
1,189
32,998
27,044
425
1,101
955
33,277
27,041
398
250
290
2,692
4,304
2,935
1,369
1,646
2,865
1,047
578
1,545
517
3,239
641
1,346
285
3,312
310
917
860
6,236
1,148
609
4,479
798
33,433
27,043
384
258
294
2,583
4,277
2,882
1,395
1,645
2,873
1,047
603
1,517
510
3,276
672
1,343
291
3,382
302
924
861
6,390
1,198
612
4,579
710
33,578
27,113
378
282
294
2,564
4,257
2,858
1,399
1,650
2,867
1,033
609
1,520
521
3,305
680
1,339
296
3,428
298
925
867
6,465
2,271
3,102
1,918
2,670
2,788
2,848
396,264 398,256 401,521 409,753 410,022 411,702
344,197 346,082 348,675 356,331 356,069 356,948
424
422
411
419
405
396
3,241
3,294
3,512
3,218
3,655
3,115
3,270
3,567
3,231
3,363
3,351
3,531
23,417
23,475
23,143
23,154
22,697
22,905
52,972
54,071
53,244
53,255
53,300
53,026
32,734
32,201
32,719
32,876
32,589
33,478
20,237
20,379
20,711
20,593
20,826
20,525
26,115
27,258
26,584
26,822
25,285
25,746
21,717
21,834
21,389
21,508
23,223
22,056
15,862
15,744
15,854
15,466
15,956
15,859
11,871
11,994
11,242
11,528
11,905
11,328
39,802
38,130
37,255
39,180
38,845
37,055
9,331
8,857
8,883
9,890
9,266
8,895
47,216
48,624
48,800
49,388
45,292
46,513
12,524
12,652
12,200 11,854
12,649
12,345
16,314
16,895
17,079
17,220
17,139
15,985
6,172
6,245
6,462
6,515
5,985
6,006
36,434
36,720
34,704
35,020
35,538
35,895
3,536
3,546
3,548
3,636
3,503
3,602
9,692
9,960
10,200 10,067 10,150
9,779
12,095
12,465
12,492
12,678
11,946
12,005
52,846
53,422
53,954
54,754
52,066
52,174
8,724
8,417
8,433
8,488
8,768
8,410
3,074
3,103
3,238
3,343
3,099
3,136
40,621
41,310
41,861
41,992
42,643
40,557
3,242
413,638
358,391
414
3,962
3,563
22,536
54,016
33,369
20,647
26,944
22,056
15,710
12,046
38,667
9,017
50,069
12,004
17,120
6,602
37,155
3,567
10,176
12,766
55,248
8,795
3,379
43,074
1,948
1,933
1,945
1,947
1,994
1,998
1,999
0
0
0
0
0
0
0
34,989
7,804
6,454
96
35,215
8,026
6,470
97
35,755
8,228
6,574
115
36,029
8,325
6,649
125
36,517
8,311
6,821
147
36,677
8,363
7,386
187
6,358
6,373
6,459
6,525
6,675
28,176
7,864
28,315
7,943
28,761
8,068
29,004
8,106
5,915
6,010
6,123
6,159
1,948
2,968
1,933
2,965
-15
2,979
1,945
2,972
3
2,969
1,947
2,976
-A
2,980
-69
2,956
204
39,019
26,365
42
55
299
3,162
1,009
389
620
1,141
2,507
1,630
757
1,305
1,028
2,363
651
1,577
550
3,248
471
3,349
1,223
12,653
2,977
4,722
4,955
223
39,578
26,668
38
55
321
3,182
1,004
390
614
1,148
2,513
1,613
772
1,295
999
2,388
680
1,569
559
3,429
474
3,392
1,237
12,910
2,971
4,824
5,115
216
39,869
26,885
39
56
310
3,254
994
385
609
1,190
2,521
1,645
774
1,282
982
2,454
629
1,588
574
3,421
485
3,434
1,250
12,984
2,971
4,863
5,150
154
40,527
27,155
53
60
321
3,308
1,017
389
628
1,207
2,567
1,650
758
1,307
998
2,470
618
1,612
588
3,478
476
3,403
1,264
13,373
3,044
5,068
5,260
-8
2,975
208
38,799
26,275
46
55
293
3,154
1,006
385
620
1,120
2,478
1,591
733
1,288
1,063
2,312
661
1,586
540
3,350
453
3,328
1,217
12,524
2,976
4,674
4,875
3
2,888
1,221
2,555
1,558
739
1,335
993
2,504
659
1,631
597
3,516
475
3,362
1,275
13,595
3,111
5,124
5,360
212
269
3,017
4,424
3,103
1,320
1,580
2,889
1,024
534
1,501
546
3,039
888
1,287
283
3,067
308
871
824
5,879
1,137
566
4,176
666
4,363
220
287
2,846
4,409
3,105
1,305
1,665
2,830
1,027
559
1,521
526
3,170
745
1,325
275
3,169
310
902
833
5,953
1,118
581
4,253
33,690
27,594
419
252
286
3,308
4,325
3,008
1,317
1,661
2,861
1,034
556
1,527
513
3,255
637
1,344
279
3,266
301
919
851
6,096
1,128
582
4,386
1,201
627
4,637
45,465
1,408
44,057
7
8
9
13
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
82
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Indiana
Item
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing..........................................................
Durable goods
Nondurable goods
Wholesale trade
Retail trade.......
Transportation and warehousing..............................
Information.......
Finance and insurance
................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services
Educational services...............
Health care and social assistance
Arts, entertainment, and recreation
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian........................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Iowa
2007
Line
II
2007
2008
IV
III
I'
II'
III”
I
II
2008
III
IV
I'
II'
III"
1
207,896
209,038
211,225
213,276
215,391
218,505
218,000
101,523
103,087
104,915
106,368
107,921
109,718
109,482
2
157,075
17,649
157,508
17,644
158,887
17,748
160,329
17,884
162,023
18,226
161,747
18,172
162,037
18,171
77,116
8,853
78,364
8,947
79,756
9,024
81,077
9,191
82,377
9,338
82,908
9,377
82,936
9,399
3
4
9,347
9,360
9,416
9,489
9,693
9,670
9,672
4,709
4,764
4,798
4,885
4,978
5,004
5,018
5
8,284
4,502
144,367
31,993
32,678
710
8,333
4,502
145,641
32,559
33,025
10
8,302
4,463
143,890
31,365
32,642
738
688
8,395
4,613
147,059
32,847
33,371
750
8,533
4,602
148,399
32,888
34,103
836
8,502
4,659
148,234
33,276
36,995
926
8,499
4,688
148,555
33,277
36,168
1,406
4,144
913
69,176
16,225
16,122
342
4,183
927
70,344
16,597
16,146
335
4,226
941
71,674
16,935
16,306
322
4,306
955
72,841
17,087
16,441
324
4,360
953
73,993
17,127
16,801
380
4,373
974
74,505
17,289
17,924
429
4,381
981
74,518
17,461
17,503
537
11
31,903
31,968
32,337
32,620
33,267
36,069
34,762
15,780
15,810
15,984
16,117
16,421
17,495
16,966
12
13
113,421
27,357
113,542
27,535
114,259
27,763
115,427
27,948
116,540
28,320
116,084
28,293
116,400
28,331
54,828
12,852
55,522
13,028
56,003
13,174
57,202
13,403
57,607
13,487
57,821
13,532
58,131
13,582
6
7
8
9
14
19,055
19,251
19,430
19,553
19,787
19,792
19,833
8,708
8,844
8,948
9,097
9,127
9,160
9,201
15
16
17
18
8,302
16,298
759
15,539
8,284
16,431
690
15,741
8,333
16,866
1,073
15,793
8,395
16,955
1,057
15,897
8,533
17,163
1,327
15,835
8,502
17,369
1,376
15,993
8,499
17,306
1,332
15,974
4,144
9,436
2,565
6,870
4,183
9,814
2,870
6,945
4,226
10,580
3,516
7,063
4,306
10,472
3,330
7,141
4,360
11,283
4,191
7,092
4,373
11,555
4,412
7,143
4,381
11,223
4,033
7,190
19
1,108
155,968
134,449
248
905
1,674
9,922
40,224
29,156
11,068
8,078
9,826
6,612
2,451
6,990
2,557
8,379
2,523
5,224
1,805
16,456
1,871
3,886
4,819
21,518
3,334
841
17,344
1,043
156,465
134,955
249
915
1,680
1,428
157,459
135,422
255
945
1,785
10,078
39,717
28,872
10,845
8,348
9,822
6,550
2,548
7,045
2,446
8,626
2,427
5,388
1,900
16,833
1,882
3,909
4,919
22,037
3,369
854
17,814
1,413
158,917
136,863
252
953
1,762
10,139
39,776
28,627
11,150
8,575
9,876
6,680
2,586
7,248
2,401
8,842
2,500
5,497
1,908
17,075
1,843
3,970
4,979
22,054
3,373
851
17,829
1,687
160,336
137,854
215
966
1,912
10,027
40,284
28,556
11,728
8,528
9,860
6,699
2,588
7,284
2,438
9,037
2,475
5,477
1,928
17,322
1,843
3,959
5,015
22,482
3,470
877
18,134
1,738
160,008
137,455
216
1,697
160,340
137,484
214
1,082
1,863
10,019
39,341
27,905
11,436
8,623
9,894
6,641
2,631
7,079
2,428
9,199
2,472
5,437
1,984
17,669
1,801
4,010
5,097
22,856
3,540
945
18,371
3,153
73,963
61,412
280
190
814
4,792
14,218
8,983
5,235
4,130
5,073
3,096
1,865
6,739
898
3,466
1,030
1,987
942
7,379
638
1,730
2,145
12,551
1,537
499
10,515
3,464
74,900
62,363
289
168
821
4,704
14,219
8,927
5,291
4,242
5,159
3,336
1,878
6,860
893
3,544
4,113
75,644
62,734
300
170
812
4,808
14,550
9,226
5,324
4,316
5,175
3,102
1,833
6,757
867
3,617
1,107
2,108
995
7,556
641
1,795
2,224
12,909
1,531
517
10,861
3,926
77,150
64,091
291
170
814
4,849
14,783
9,365
5,418
4,435
5,233
3,158
1,907
7,176
865
3,706
1,114
2,156
1,013
7,673
644
1,831
2,273
13,059
1,520
520
4,794
77,584
64,421
290
171
832
4,750
14,957
9,248
5,709
4,554
5,298
3,154
1,926
7,100
876
3,727
1,057
2,173
1,028
7,826
646
1,853
11,020
11,120
5,020
77,888
64,700
293
179
872
4,782
14,806
9,192
5,614
4,546
5,287
3,141
1,957
7,222
871
3,790
1,064
2,164
1,040
7,931
638
1,869
2,248
13,188
1,563
444
11,181
4,646
78,291
64,947
289
195
870
4,751
14,790
9,144
5,646
4,547
5,307
3,117
1,952
7,243
890
3,860
1,078
2,175
1,073
8,034
634
1,875
2,268
13,343
1,573
455
11,314
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
10,122
40,075
29,048
11,027
8,194
9,867
6,745
2,495
6,925
2,522
8,444
2,328
5,299
1,848
16,625
1,846
3,898
4,878
21,511
3,347
845
17,318
1,001
1,867
10,013
39,679
28,280
11,399
8,621
9,882
6,722
2,610
7,087
2,436
9,086
2,440
5,459
1,972
17,487
1,831
3,993
5,052
22,554
3,514
913
18,127
1,111
2,040
955
7,542
626
1,770
2,206
12,537
1,527
505
10,505
2,202
13,163
1,556
487
January 2009
Survey
of
83
C u r r e n t B u sin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
I
Louisiana
Kentucky
Kansas
2007
2007
2008
Line
2008
2007
2008
II
III
IV
lr
II'
lljp
I
II
III
IV
I'
II'
III"
I
II
III
IV
r
II'
II| p
100,869
101,404
103,376
104,628
106,605
106,492
128,776
130,274
130,851
132,435
133,754
137,125
136,739
146,435
154,686
155,783
157,375
157,035
161,296
159,733
1
76,038
8,356
77,093
8,391
76,979
8,327
78,855
8,508
79,926
8,680
80,721
8,783
81,022
8,813
97,274
10,921
98,516
11,036
98,334
100,635
11,342
101,694
11,462
102,210 106,461
11,502
10,752
107,221
10,790
109,520
10,989
111,354
11,152
113,162
11,460
114,786
11,627
116,229
11,739
2
11,001
99,665
11,144
4,415
4,461
4,443
4,551
4,655
4,711
4,729
5,761
5,830
5,810
5,886
6,004
6,071
6,094
6,029
6,046
6,158
6,247
6,437
6,531
6,595
4
3,941
834
68,515
16,740
14,200
238
3,931
823
69,525
17,111
14,233
245
3,884
925
69,577
17,452
14,374
237
3,957
71,234
17,643
14,498
247
4,026
839
72,085
17,718
14,826
315
4,072
797
72,735
17,939
15,931
330
4,084
799
73,008
18,087
15,397
411
5,161
-2,317
84,036
19,083
25,657
436
5,206
-2,393
85,088
19,487
25,699
425
5,191
-2,329
85,004
19,852
25,996
424
5,258
-2,375
86,145
20,038
26,251
450
5,338
-2,461
86,832
20,092
26,830
505
5,391
-2,567
87,665
20,370
29,090
554
5,408
-2,628
88,079
20,177
28,483
791
4,723
-176
95,533
24,737
26,165
169
4,743
-172
96,259
32,154
26,272
234
4,831
-182
98,349
30,966
26,468
187
4,905
-180
100,023
30,729
26,623
156
5,023
-192
101,510
28,422
27,103
210
5,095
-206
102,953
27,768
30,575
278
5,144
-208
104,282
27,271
28,181
312
10
13,962
13,988
14,137
14,251
14,511
15,601
14,986
25,221
25,273
25,572
25,801
26,325
28,537
27,692
25,996
26,038
26,281
26,467
26,893
30,297
27,868
11
53,554
13,080
54,107
13,248
53,933
13,156
55,385
13,424
55,983
13,613
56,576
13,815
56,937
13,891
70,287
17,917
71,096
18,185
70,876
18,121
71,971
18,297
72,548
18,564
73,252
18,840
73,715
18,995
74,697
18,318
75,245
18,332
76,975
18,617
78,461
18,805
79,907
19,194
80,951
19,469
81,950
19,665
12
13,594
13,589
13,786
13,900
14,171
14,374
14,521
14
4,723
13,447
394
13,052
4,743
13,644
397
13,247
4,831
13,928
502
13,426
4,905
14,089
465
13,624
5,023
14,062
320
13,742
5,095
14,366
362
14,004
5,144
14,614
342
14,272
15
16
17
18
687
650
108,833 110,704
88,329
89,913
514
529
6,852
6,680
1,164
1,152
8,834
8,780
11,948
12,138
5,563
5,708
6,385
6,430
5,065
5,167
7,437
7,331
5,545
5,681
1,965
1,991
4,245
4,269
2,325
2,306
7,995
7,766
1,571
1,680
3,904
3,933
1,148
1,099
10,343
10,632
1,484
1,447
3,282
3,389
3,294
3,358
20,504
20,791
2,902
2,899
2,380
2,380
15,222
15,511
507
112,655
91,314
526
7,335
1,240
8,733
12,206
5,594
6,612
5,198
7,386
5,713
2,090
4,339
2,270
8,056
1,848
3,926
1,186
10,837
1,619
3,388
3,418
21,341
2,967
2,427
15,946
551
114,235
92,691
539
7,694
533
115,696
93,877
531
8,395
20
21
22
99,456
888
9,139
9,317
9,273
9,467
9,588
9,743
9,807
12,756
12,979
12,930
13,040
13,226
13,448
13,586
3,941
9,404
137
9,267
3,931
9,738
356
9,382
3,884
9,889
413
9,476
3,957
10,046
399
9,647
4,026
10,330
581
9,749
4,072
10,330
370
9,960
4,084
10,195
5,161
9,070
457
8,613
5,206
9,235
530
8,705
5,191
9,337
579
8,758
5,258
9,397
571
8,826
5,338
9,524
739
8,785
5,391
9,603
704
8,899
5,408
9,500
656
8,845
617
75,420
61,417
279
1,515
785
4,031
13,725
8,313
5,411
4,118
4,643
2,751
3,545
4,162
1,069
5,099
1,035
2,775
511
7,044
311
1,765
2,255
14,003
2,183
2,355
9,465
846
76,247
61,943
281
1,546
761
3,963
13,572
8,196
5,377
4,176
4,668
2,784
4,025
4,123
1,067
5,147
1,015
2,795
523
7,155
314
1,819
2,209
14,304
2,162
2,515
9,627
909
76,069
61,596
282
1,591
826
4,099
13,178
7,920
5,257
4,263
4,694
2,751
3,515
4,175
1,030
5,103
1,132
2,859
530
7,247
308
1,794
2,219
14,473
2,105
2,632
9,736
897
77,958
63,184
280
1,627
796
4,194
13,371
8,072
5,299
4,408
4,709
2,785
3,780
4,293
1,006
5,414
1,282
2,992
546
7,349
318
1,796
2,237
14,774
1,084
78,842
63,877
258
1,725
857
4,203
13,685
8,325
5,360
4,526
4,748
2,776
3,635
4,338
1,046
5,491
1,273
2,937
573
7,454
317
1,769
2,265
14,965
2,153
2,764
10,048
878
79,843
64,672
258
1,814
864
4,179
13,930
8,476
5,455
4,507
4,712
2,794
3,599
4,384
1,040
5,586
1,354
3,052
585
7,570
314
1,810
2,320
15,171
2,189
2,824
10,158
613
80,409
65,046
255
1,975
857
4,177
13,889
8,431
5,458
4,516
4,724
2,765
3,636
4,388
1,062
5,657
1,376
3,049
594
7,655
309
1,823
2,338
15,363
2,243
2,859
10,260
715
96,560
77,265
392
794
97,722
78,156
398
2,098
599
5,260
16,818
847
97,487
77,650
414
2,134
636
5,339
16,509
10,771
5,738
5,230
6,539
5,264
840
98,824
78,809
424
2,176
625
5,377
16,543
10,784
5,760
5,317
6,619
5,316
1,665
5,264
1,168
5,680
1,885
2,991
844
10,869
615
2,685
2,747
20,015
3,144
4,044
12,827
1,011
979
100,715
79,841
418
2,415
644
5,399
16,551
10,730
5,821
5,288
6,620
5,381
1,712
5,283
1,178
5,810
2,106
3,018
852
11,049
608
2,719
2,788
20,874
3,247
4,482
13,145
933
101,277
79,979
412
2,636
644
5,325
16,511
10,679
5,832
5,304
6,633
5,351
1,728
5,248
1,113
5,899
2,018
2,993
867
11,171
595
2,720
2,812
21,298
3,307
4,651
13,340
2,112
2,675
9,987
101
10,094
2,121
586
5,159
16,608
10,823
5,785
5,184
6,575
5,589
1,598
5,065
1,203
5,378
1,765
2,872
785
10,505
604
2,674
2,601
19,295
3,186
3,990
12,119
11,001
5,817
5,211
6,549
5,934
1,597
5,045
1,174
5,480
1,770
2,878
796
10,599
595
2,663
2,694
19,566
3,173
4,002
12,391
1,668
5,129
1,142
5,579
1,783
2,923
808
10,574
633
2,664
2,684
19,837
3,140
4,031
12,666
99,624
79,172
413
2,265
635
5,318
16,722
10,886
5,837
5,321
6,589
5,374
1,695
5,278
1,189
5,799
1,833
3,035
821
10,860
606
2,670
2,749
20,452
3,207
4,293
12,951
579
573
105,888 106,642
86,164
86,897
504
507
6,297
6,581
1,119
1,111
8,352
8,344
12,016
11,938
5,529
5,476
6,540
6,409
4,967
4,959
7,256
7,230
5,388
5,605
1,891
1,939
4,252
4,166
2,350
2,341
7,355
7,510
1,671
1,639
3,772
3,768
1,083
1,091
10,064
10,299
1,410
1,453
3,215
3,206
3,197
3,215
19,724
19,745
2,908
2,945
2,261
2,321
14,518
14,516
1,200
1,202
9,101
12,145
5,589
6,556
5,295
7,420
5,735
2,172
4,334
2,297
8,242
1,862
4,120
9,151
12,119
5,566
6,553
5,300
7,433
5,714
2,173
4,359
2,324
8,327
1,901
4,199
1,237
11,069
1,526
3,427
3,490
21,819
2,998
2,515
16,306
1,221
10,953
1,544
3,383
3,434
21,544
2,992
2,439
16,114
3
5
6
7
8
9
13
19
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
84
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Maine
Item
Line
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing..........................................................
Durable goods.....................................................
Nondurable goods...............................................
Wholesale trade......................................................
Retail trade..............................................................
Transportation and warehousing..............................
Information..............................................................
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Maryland
2007
II
2008
III
IV
I'
II'
2007
III?
I
II
2008
III
IV
\'
II'
III?
1
44,155
44,506
44,946
45,335
45,961
46,664
46,753
258,002
261,106
263,151
266,027
268,279
272,179
273,199
2
3
30,865
3,433
31,055
3,450
31,299
3,477
31,534
3,501
32,014
3,601
32,056
3,603
32,213
3,614
179,397
19,865
181,611
20,066
181,602
20,044
184,113
20,303
185,354
20,636
186,867
20,827
188,079
20,915
4
1,896
1,906
1,919
1,931
1,990
1,993
1,999
10,298
10,429
10,424
10,567
10,764
10,868
10,916
5
1,545
863
28,468
7,321
8,718
121
1,558
858
28,680
7,449
8,816
114
1,570
879
28,911
7,515
8,909
125
1,612
889
29,302
7,550
9,108
140
1,610
10
1,537
849
28,281
7,178
8,697
119
29,339
7,676
9,649
146
1,615
889
29,488
7,767
9,498
203
9,567
27,099
186,631
42,746
28,625
475
9,637
27,054
188,600
43,802
28,704
494
9,620
27,840
189,398
44,748
29,006
455
9,736
27,643
191,454
45,195
29,379
565
9,873
28,413
193,131
45,124
30,024
610
9,959
28,377
194,417
45,502
32,260
678
9,999
28,673
195,837
45,906
31,456
967
11
8,578
8,597
8,702
8,783
8,969
9,503
9,295
28,150
28,210
28,551
28,814
29,413
31,582
30,489
12
13
22,126
5,322
22,256
5,365
22,434
5,407
22,648
5,433
23,060
5,531
23,061
5,561
23,193
5,592
130,757
30,892
132,337
31,372
132,307
31,281
134,430
31,585
135,336
32,035
136,437
32,428
137,387
32,641
6
7
8
9
886
14
3,785
3,820
3,849
3,864
3,919
3,951
3,978
21,326
21,735
21,660
21,849
22,163
22,469
22,641
15
16
17
18
1,537
3,416
39
3,377
1,545
3,435
40
3,394
1,558
3,458
58
3,400
1,570
3,453
42
3,411
1,612
3,423
63
3,360
1,610
3,434
55
3,379
1,615
3,428
48
3,380
9,567
17,747
162
17,585
9,637
17,902
184
17,719
9,620
18,015
229
17,785
9,736
18,098
218
17,879
9,873
17,982
154
17,828
9,959
18,003
114
17,888
9,999
18,052
19
117
30,748
24,808
381
17
224
2,038
3,795
1,898
1,897
1,324
2,707
803
647
1,798
517
1,921
458
867
478
4,620
333
1,043
838
5,940
1,345
586
4,009
120
30,935
24,997
379
18
259
2,028
3,765
1,905
1,859
1,347
2,739
825
659
1,784
513
1,929
528
884
474
4,641
344
1,032
850
5,938
1,350
589
3,999
139
31,161
25,141
383
19
243
2,036
3,799
1,914
123
31,410
25,378
393
19
241
2,038
3,868
1,933
1,935
1,341
2,748
822
679
1,763
479
2,038
513
950
469
4,762
339
1,054
861
6,032
1,359
576
4,098
146
31,869
25,790
370
23
245
1,994
3,877
1,940
1,937
1,345
2,709
899
661
1,804
511
2,104
719
960
469
4,841
336
1,054
870
6,079
1,374
593
4,111
138
31,918
25,763
377
23
245
1,970
3,930
1,987
1,943
1,335
2,727
895
675
1,740
493
2,081
649
961
474
4,922
336
1,055
876
6,155
1,404
581
4,171
132
32,081
25,860
372
25
244
1,946
3,935
1,986
1,948
1,331
2,727
883
681
1,736
503
2,113
658
973
481
4,980
330
1,054
887
287
179,109
136,617
124
176
3,282
14,084
10,835
6,392
4,444
7,768
10,750
4,019
5,069
10,969
4,537
24,047
2,272
6,609
3,113
17,253
1,546
4,525
5,637
42,492
18,731
3,833
19,928
312
181,299
138,419
126
177
3,317
14,171
11,751
6,615
5,136
7,880
10,811
4,023
5,211
10,704
4,511
24,227
2,235
6,607
3,132
17,733
1,553
4,575
5,675
42,880
18,917
3,798
20,165
360
181,242
137,799
128
178
3,296
14,064
10,914
6,448
4,466
7,963
10,694
3,991
5,227
10,734
4,377
24,601
2,216
6,708
3,154
17,683
1,565
4,610
5,696
43,444
18,995
3,766
20,683
350
183,763
140,052
127
179
3,373
13,955
11,081
6,593
4,488
7,991
10,711
4,017
5,337
11,305
4,300
24,983
2,317
6,891
3,227
18,152
1,588
4,700
5,816
43,711
18,993
3,729
20,990
287
185,067
140,301
123
187
3,533
13,832
11,320
248
186,619
141,108
127
190
3,425
13,547
11,235
6,576
4,659
8,096
10,533
4,030
5,499
10,991
4,386
25,843
2,271
6,804
3,314
18,718
1,523
4,747
5,831
45,511
19,866
3,922
21,723
223
187,856
141,817
125
207
3,416
13,460
11,205
6,548
4,656
8,126
10,546
4,000
5,546
10,936
4,466
26,162
2,304
6,827
3,374
18,967
1,497
4,769
5,883
46,039
20,091
3,992
21,956
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
1,886
1,348
2,745
815
667
1,764
498
1,976
560
907
467
4,682
334
1,042
855
6,020
1,359
593
4,069
6,222
1,424
596
4,202
6,668
4,653
8,029
10,569
4,026
5,468
10,922
4,323
25,355
2,272
6,684
3,287
18,460
1,474
4,641
5,795
44,765
19,549
3,884
21,333
88
17,963
January 2009
Survey
of
85
C u r r e n t B usin ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
I
II
2007
2008
III
Minnesota
Michigan
Massachusetts
2007
IV
I'
II'
II| p
I
II
2007
2008
III
IV
I'
II'
Line
2008
H|p
I
II
III
IV
I'
II'
HIP
311,792
313,600
318,065
324,360
327,142
330,318
332,341
343,925
344,263
347,461
347,893
350,160
355,579
355,841
208,947
212,145
214,030
216,643
220,671
221,591
222,078
1
246,618
26,330
246,689
26,158
249,663
26,413
255,716
26,965
258,285
27,520
258,964
27,607
260,475
27,662
262,036
30,108
261,210
29,877
263,136
30,048
262,365
29,864
263,747
30,314
263,897
30,331
265,027
30,366
164,355
19,470
167,016
19,695
167,829
19,673
169,937
19,867
173,817
20,453
172,197
20,226
172,781
20,249
2
13,392
13,332
13,443
13,736
14,056
14,110
14,147
15,420
15,314
15,387
15,290
15,561
15,581
15,604
10,012
10,145
10,132
10,238
10,569
10,455
10,470
4
12,938
-5,526
214,763
53,372
43,657
1,353
12,827
-5,531
214,999
54,847
43,754
1,358
12,970
-5,686
217,564
56,170
44,331
1,416
13,230
-5,937
222,814
56,756
44,790
1,474
13,464
-5,975
224,790
56,577
45,775
1,547
13,496
-6,033
225,325
56,949
48,045
1,632
13,515
-6,065
226,748
57,493
48,100
2,286
14,688
1,468
233,396
51,188
59,340
1,849
14,563
1,483
232,817
52,076
59,371
1,764
14,660
1,484
234,572
52,857
60,032
1,774
14,574
1,525
234,026
53,241
60,626
14,750
1,547
235,113
53,866
66,600
2,291
14,762
1,550
236,211
54,355
65,274
3,302
9,458
-1,367
143,517
38,102
27,327
691
9,551
-1,405
145,916
38,823
27,406
712
9,541
-1,376
146,779
39,486
27,765
744
9,629
-1,371
148,699
39,889
28,056
783
9,884
-1,402
151,962
40,045
28,664
816
9,771
-1,335
150,637
40,560
30,394
835
9,779
-1,328
151,203
40,844
30,031
1,170
5
1,866
14,752
1,543
234,976
53,246
61,938
2,033
10
42,304
42,395
42,915
43,315
44,228
46,413
45,814
57,491
57,606
58,258
58,760
59,905
64,309
61,972
26,636
26,694
27,021
27,273
27,847
29,559
28,861
11
183,640
38,389
183,468
38,448
185,680
38,783
190,567
39,712
192,738
40,164
193,178
40,392
194,172
40,531
188,543
44,551
187,367
44,633
188,493
45,032
187,846
44,823
188,948
45,076
188,892
45,238
189,656
45,394
122,680
26,891
124,653
27,373
124,880
27,389.
126,690
27,631
129,259
28,218
127,663
28,070
128,173
28,144
13
25,452
25,621
25,813
26,483
26,700
26,896
27,016
29,863
30,070
30,371
30,249
30,324
30,488
30,632
17,433
17,823
17,848
18,003
18,334
18,299
18,365
14
12,938
24,589
12,827
24,773
-5
24,777
12,970
25,200
7
25,193
13,230
25,437
4
25,432
13,464
25,383
-24
25,408
13,496
25,394
-27
25,420
13,515
25,772
-26
25,798
14,688
28,942
219
28,723
14,563
29,210
245
28,965
14,660
29,611
473
29,139
14,574
29,695
443
29,252
14,752
29,723
505
29,218
14,750
29,767
416
29,351
14,762
29,977
370
29,607
9,458
14,784
1,297
13,487
9,551
14,990
1,389
13,601
9,541
15,560
1,854
13,706
9,629
15,616
1,808
13,808
9,884
16,341
2,575
13,766
9,771
16,464
2,649
13,815
9,779
16,463
2,540
13,923
15
16
17
18
1,092
107
79
78
864
901
1,135
1,107
1,176
1,053
98
96
110
79
246,520 246,593 249,553 255,609 258,205 258,886 260,396 261,172 260,309 262,001 261,258 262,571 262,804 263,975
218,023 217,578 220,890 226,070 228,185 228,594 229,830 223,686 222,017 223,560 222,886 223,673 223,319 224,106
344
344
349
351
346
560
532
538
600
495
488
348
350
481
407
477
1,062
1,072
1,137
1,191
1,235
1,350
397
404
403
423
439
1,116
3,284
1,897
1,897
3,277
3,254
3,362
3,311
3,207
3,285
1,717
1,745
1,825
1,799
1,851
12,079
13,064
13,027
12,727
13,150
13,188
12,827
12,395
11,950
12,988
12,819
12,809
12,599
13,266
52,052
27,171
27,040
28,498
27,373
27,036
26,981
55,694
54,060
53,686
53,030
52,389
51,891
27,456
40,762
40,267
40,417
19,583
19,468
19,650
19,433
19,301
19,229
44,299
42,739
42,368
41,686
19,649
7,752
11,321
11,344
11,626
11,625
11,636
7,807
7,588
7,573
8,848
7,940
7,735
11,395
11,318
13,271
13,714
13,142
13,193
13,301
13,371
13,587
13,785
13,796
12,783
13,150
13,169
13,496
13,748
15,867
15,853
15,928
15,974
15,883
12,594
12,613
12,645
12,601
12,900
12,909
12,918
15,749
15,876
4,349
4,327
4,425
4,398
4,364
7,407
7,585
7,533
7,487
7,339
7,241
4,505
4,446
7,561
9,144
9,029
9,334
9,721
9,931
10,021
4,988
5,015
5,099
5,061
5,069
5,081
5,086
9,939
27,682
29,721
31,141
29,528
13,117
13,030
13,165
13,178
13,324
13,281
13,311
29,698
29,849
29,508
4,972
4,867
5,918
5,677
5,533
5,640
5,609
5,739
5,252
5,170
4,873
4,948
4,960
5,993
27,327
28,174
28,232
34,587
35,364
37,742
39,402
39,924
26,640
26,691
27,289
27,996
34,309
37,106
6,877
6,864
6,764
7,032
7,028
7,090
7,194
7,161
7,333
7,313
7,125
7,476
7,563
6,953
8,664
8,652
10,897
11,097
10,921
10,845
8,468
8,532
8,677
8,728
8,735
10,875
10,988
11,098
8,364
8,621
9,064
2,462
2,553
2,625
2,675
8,212
8,356
8,808
8,899
2,448
2,519
2,626
29,267
30,054
31,032
27,222
27,691
27,947
28,354
28,911
28,235
28,910
28,999
30,353
30,633
27,025
2,597
2,471
2,562
2,571
2,397
2,453
2,550
2,625
2,585
2,548
2,428
2,432
2,610
2,565
5,952
5,972
5,982
6,254
6,304
6,336
6,473
6,482
6,555
6,561
5,953
5,969
6,056
6,028
7,184
7,352
7,372
7,347
7,414
6,176
6,278
6,349
6,429
6,447
6,504
7,136
7,289
6,093
38,441
29,015
28,663
29,539
30,021
30,292
30,566
37,486
38,292
38,372
38,898
39,485
39,868
28,496
5,044
5,037
5,347
4,965
4,954
5,103
5,144
5,188
5,056
5,061
5,255
5,346
4,951
4,973
974
1,007
1,022
1,028
1,063
1,081
940
932
940
936
958
1,012
1,043
1,096
23,702
32,388
32,536
32,482
32,837
33,368
33,669
22,433
22,931
22,576
23,473
23,865
24,123
31,595
1,887
162,468
140,026
339
588
1,431
9,320
24,582
16,413
8,169
10,594
9,357
5,186
4,541
14,534
3,189
13,693
7,411
4,890
1,963
18,465
1,641
3,740
4,561
22,442
3,065
953
18,423
1,991
165,025
142,525
342
582
1,477
9,258
24,723
16,512
2,463
165,365
142,416
354
591
1,533
9,203
24,514
16,351
8,162
11,072
9,409
5,264
4,520
14,686
3,090
14,000
8,242
5,005
2,019
18,840
1,523
3,804
4,747
22,949
3,070
979
18,900
2,420
167,518
144,533
357
599
1,519
9,120
24,586
16,401
8,186
11,382
9,641
5,387
4,493
14,404
3,070
14,447
8,733
5,075
2,103
19,419
1,596
3,854
4,749
22,985
3,058
977
18,950
3,193
170,624
147,062
349
628
1,597
9,034
24,665
16,355
8,310
11,974
9,552
5,561
4,520
13,968
3,167
14,481
3,273
168,924
145,188
348
644
1,569
8,694
24,928
16,627
8,301
11,639
9,661
5,224
4,561
14,287
3,131
14,604
11,001
9,136
4,987
5,062
2,118
2,146
19,491
19,135
1,588
1,510
3,847
3,795
4,813
4,831
23,563
23,736
3,130
3,175
1,060
1,018
19,415
19,501
3,168
169,613
145,641
343
705
1,566
8,645
24,804
16,532
8,272
11,636
9,697
5,189
4,602
14,295
3,180
14,724
9,238
4,940
2,190
19,730
1,493
3,796
4,867
23,972
3,194
1,103
19,674
0
24,588
8,211
11,043
9,573
5,929
4,478
14,560
3,125
13,701
8,542
4,921
2,016
18,406
1,486
3,743
4,619
22,500
3,071
965
18,465
3
6
7
8
9
12
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
86
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Mississippi
Item
2007
Line
I
Income by place of residence
Personal income (lines 2 -11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4.................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities....
Construction
Manufacturing
Durable goods
Nondurable goods...............................................
Wholesale trade......................................................
Retail trade..............................................................
Transportation and warehousing..............................
Information..............................................................
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services...............................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Missouri
II
2008
III
IV
lr
II'
2007
IMP
I
II
2008
III
IV
r
II'
III p
1
80,601
83,424
84,571
84,462
85,022
88,444
87,013
196,440
198,204
200,891
203,558
205,288
209,205
208,681
2
3
55,120
6,265
55,381
6,243
56,313
6,324
56,852
6,362
57,903
6,537
58,579
6,629
58,871
6,653
150,828
16,848
151,970
16,933
153,985
17,122
156,276
17,366
157,461
17,654
158,123
17,730
158,813
17,771
4
3,469
3,459
3,503
3,523
3,628
3,681
3,694
8,879
8,931
9,025
9,148
9,321
9,369
9,396
5
2,783
2,460
51,598
13,663
18,164
153
2,821
2,471
52,461
13,726
18,385
166
2,838
2,544
53,034
12,887
18,542
162
2,909
2,537
53,903
12,218
18,902
156
2,949
2,514
54,463
12,379
21,603
182
2,959
2,527
54,745
12,494
19,774
307
7,968
-4,395
129,586
32,284
34,570
446
8,002
10
2,797
2,426
51,281
11,199
18,121
147
-4,407
130,630
32,936
34,639
444
8,098
-4,548
132,315
33,528
35,049
448
8,217
-4,549
134,361
33,832
35,364
451
8,333
-4,564
135,243
33,887
36,158
532
8,360
-4,529
135,865
34,231
39,110
589
8,375
-4,548
136,494
34,440
37,747
754
11
17,974
18,011
18,219
18,379
18,745
21,421
19,467
34,124
34,195
34,601
34,913
35,626
38,521
36,993
12
13
39,030
10,084
39,083
10,134
39,730
10,286
40,152
10,347
40,866
10,559
41,392
10,730
41,647
10,801
109,946
25,694
110,679
25,950
111,984
26,289
113,861
26,625
114,654
26,896
115,071
27,083
115,688
27,219
14
7,287
7,350
7,465
7,508
7,650
7,781
7,842
17,726
17,948
18,191
18,408
18,563
18,723
18,844
15
16
17
18
2,797
6,006
494
5,513
2,783
6,165
585
5,579
2,821
6,297
665
5,632
2,838
6,353
651
5,702
2,909
6,479
730
5,749
2,949
6,457
606
5,851
2,959
6,423
515
5,908
7,968
15,188
422
14,767
8,002
15,341
467
14,874
8,098
15,713
715
14,998
8,217
15,790
664
15,126
8,333
15,911
838
15,073
8,360
15,969
827
15,142
8,375
15,905
717
15,188
19
676
54,444
41,355
512
915
625
3,308
8,630
5,741
2,889
2,285
4,202
2,191
833
2,058
685
2,669
781
1,453
423
5,454
456
2,218
1,657
13,089
2,298
1,739
9,051
772
54,609
41,350
513
942
644
3,317
8,455
5,599
2,856
2,332
4,229
2,237
822
2,052
677
2,693
790
1,482
425
5,422
426
2,234
1,658
13,259
2,296
1,773
9,191
853
55,460
41,969
502
962
649
3,403
8,563
5,712
2,851
2,339
4,248
2,218
837
2,085
669
2,734
781
1,527
438
5,595
465
2,259
1,695
13,491
2,290
1,830
9,370
841
56,011
42,368
502
992
633
3,508
8,601
5,766
2,835
2,340
4,258
2,237
813
2,117
677
2,820
786
1,551
447
5,590
477
2,313
1,709
13,644
2,268
1,827
9,548
921
56,982
43,007
496
1,045
662
3,853
8,520
5,687
2,833
2,348
4,266
2,242
851
2,148
693
2,851
793
1,551
464
5,668
458
2,381
1,717
13,975
2,327
1,929
9,719
799
57,780
43,647
499
1,107
676
4,070
8,547
5,711
2,836
2,403
4,265
2,265
872
2,150
674
2,936
847
1,609
465
5,728
445
2,329
1,759
14,133
2,344
1,978
9,811
710
58,161
43,856
493
768
150,060
125,974
298
564
1,066
152,919
128,211
344
594
1,301
10,134
19,683
12,564
7,119
8,853
10,094
5,893
5,460
9,187
2,403
12,889
6,399
5,457
2,729
15,487
1,015
155,261
130,483
332
779
1,296
10,233
20,035
12,714
7,321
9,029
10,191
5,903
5,550
9,291
2,357
13,191
6,768
5,674
2,769
15,747
1,999
4,356
4,985
24,778
4,978
2,335
17,464
1,192
156,269
131,092
322
604
1,356
10,159
19,995
12,532
7,464
9,098
10,253
5,887
5,668
9,557
2,413
13,220
6,763
5,758
2,816
15,880
1,974
4,369
5,002
25,177
5,115
2,439
17,623
1,184
156,940
131,305
335
565
1,336
9,908
19,640
12,033
7,607
9,257
10,302
5,855
5,506
9,439
2,401
13,441
6,926
5,827
2,878
16,231
1,077
157,736
131,763
331
618
1,334
9,824
19,601
11,983
7,618
9,274
10,307
5,787
5,553
9,419
2,431
13,609
7,005
5,824
2,933
16,439
1,983
4,423
5,067
25,973
5,249
2,585
18,139
6
7
8
9
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
1,211
672
4,051
8,530
5,687
2,843
2,406
4,265
2,246
880
2,151
688
3,006
859
1,607
472
5,797
433
2,318
1,772
14,305
2,387
2,049
9,868
1,201
10,141
19,821
12,485
7,336
8,632
9,962
5,814
5,310
9,138
2,459
12,378
6,036
5,263
2,634
15,152
2,072
4,229
4,871
24,086
5,076
2,271
16,739
817
151,154
126,945
317
612
1,241
10,034
19,761
12,474
7,287
8,699
10,082
5,895
5,183
9,003
2,440
12,658
6,382
5,386
2,665
15,337
2,048
4,323
4,879
24,209
5,005
2,290
16,914
2,120
4,287
4,898
24,709
5,004
2,335
17,370
2,021
4,414
5,024
25,635
5,219
2,483
17,933
January 2009
Survey
of
87
C u r r e n t B u sin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
Montana
II
I
2008
III
IV
Nevada
Nebraska
2007
I'
II'
2007
III"
I
II
2007
2008
III
IV
lr
II'
II| p
I
2008
Line
II
III
IV
I'
II'
II| p
31,117
31,461
31,990
32,426
32,691
33,253
33,244
62,543
63,760
64,844
65,735
66,036
67,331
67,080
99,466
100,161
102,311
104,920
104,730
105,073
105,369
1
21,848
2,724
22,060
2,739
22,423
2,778
22,745
2,819
22,828
2,865
22,862
2,872
23,027
2,891
48,463
5,427
49,508
5,494
50,303
5,524
51,099
5,603
51,213
5,633
51,817
5,728
51,811
5,745
75,102
7,796
75,040
7,741
76,531
7,862
78,902
8,076
78,206
8,069
77,111
7,954
77,511
7,953
2
1,362
1,371
1,390
1,410
1,438
1,443
1,453
2,832
2,883
2,907
2,957
2,981
3,032
3,043
3,982
3,953
4,017
4,136
4,139
4,077
4,083
4
1,362
34
19,158
6,873
5,087
1,388
34
19,679
7,155
5,156
64
1,409
34
19,961
7,247
5,218
79
1,427
35
19,998
7,340
5,353
106
1,429
36
20,025
7,458
5,770
2,595
-955
42,081
11,355
9,107
97
2,611
-986
43,028
11,613
9,119
91
2,617
-998
43,780
11,849
9,214
90
2,646
- 1,022
44,475
11,969
9,292
93
2,702
-1,057
45,009
12,230
9,840
162
66,668
22,022
102
2,696
-1,051
45,037
12,127
10,167
109
3,814
-638
102
1,438
36
20,172
7,505
5,566
125
2,652
- 1,022
44,559
12,006
9,471
66
1,369
34
19,355
7,018
5,088
57
10,776
299
3,788
-624
66,676
22,670
10,816
311
3,845
-650
68,019
23,277
11,015
354
3,940
-703
70,123
23,634
11,162
381
3,930
-670
69,467
23,749
11,514
458
3,877
-632
68,525
23,977
12,571
455
3,870
-632
68,927
24,111
12,331
779
10
5,021
5,031
5,092
5,139
5,247
5,667
5,441
9,010
9,027
9,124
9,199
9,369
10,058
9,679
10,478
10,505
10,662
10,782
11,056
12,115
11,552
11
14,879
3,864
15,029
3,904
15,293
3,963
15,581
4,009
15,713
4,058
15,742
4,086
15,890
4,120
34,436
7,962
35,136
8,105
35,526
8,173
36,277
8,290
36,144
8,297
36,710
8,453
36,938
8,490
56,567
11,684
56,403
11,763
57,563
11,992
59,559
12,334
58,905
12,302
57,933
12,215
58,163
12,277
12
2,501
2,535
2,574
2,599
2,631
2,657
2,682
5,366
5,494
5,555
5,644
5,645
5,757
5,788
7,870
7,975
8,147
8,394
8,372
8,339
8,407
14
1,362
3,105
82
3,023
1,369
3,127
99
3,028
1,388
3,167
167
3,000
1,409
3,155
151
3,005
1,427
3,057
74
2,982
1,429
3,035
43
2,992
1,438
3,017
-4
3,021
2,595
6,066
2,611
6,267
1,039
5,228
2,617
6,604
1,328
5,276
2,646
6,532
1,240
5,292
2,652
6,772
1,486
5,286
2,696
6,653
1,321
5,333
2,702
6,383
1,030
5,353
3,814
6,850
5
6,845
3,788
6,875
3,845
6,976
17
6,959
3,940
7,009
3,877
6,963
14
6,949
3,870
7,071
6,998
3,930
6,999
24
6,975
15
16
17
18
281
21,567
16,839
301
21,759
17,021
217
826
417
1,966
1,305
749
556
946
1,861
872
403
981
617
1,448
371
22,052
17,212
230
826
448
1,928
1,267
713
554
955
1,889
354
22,391
17,546
219
860
444
1,960
1,299
738
561
988
1,938
876
425
1,008
591
1,534
99
653
124
2,709
288
835
700
4,845
1,162
466
3,217
280
22,548
17,623
204
875
462
1,870
1,308
733
575
991
1,940
861
439
1,024
588
1,546
124
644
131
2,779
286
840
711
4,925
1,191
488
3,245
250
22,612
17,621
206
891
454
1,768
1,314
729
586
993
1,955
862
436
1,032
586
1,578
117
654
134
2,789
281
853
717
4,991
1,216
497
3,278
205
22,822
17,758
203
971
453
1,743
1,316
726
590
993
1,957
857
443
1,029
600
1,595
119
656
136
2,828
276
855
729
5,064
1,234
500
3,330
1,398
47,065
38,516
1,554
47,953
39,405
204
213
1,274
3,043
5,452
1,844
48,459
39,783
1,755
49,344
40,641
223
2,006
49,207
40,382
216
236
1,322
3,044
5,653
2,794
2,859
2,721
3,161
3,532
1,262
3,737
560
3,466
1,363
1,534
597
5,181
284
1,077
1,435
8,825
1,364
948
6,514
1,846
49,971
41,044
214
247
1,339
3,057
5,759
2,831
2,928
2,772
3,204
3,577
1,321
3,706
544
3,551
1,540
1,531
603
5,258
295
1,086
1,440
8,927
1,371
955
6,601
1,560
50,252
41,240
82
75,019
64,246
33
1,150
520
9,424
3,342
2,359
984
2,885
5,229
2,415
1,217
3,827
2,291
5,412
2,552
3,056
296
5,286
1,448
12,160
1,704
10,774
1,612
1,045
8,117
89
74,952
64,046
29
1,224
529
9,348
3,399
2,417
982
2,923
5,292
2,483
1,208
3,821
2,277
5,597
2,097
3,039
296
5,359
1,440
11,953
1,729
10,906
1,591
1,065
8,250
90
78,812
67,616
43
1,350
539
9,522
3,568
2,590
978
3,000
5,270
2,635
1,307
3,796
2,143
5,631
4,183
3,057
314
5,542
1,419
12,503
1,791
11,196
1,565
1,093
8,538
104
78,102
66,583
43
1,234
552
9,295
3,530
2,541
988
2,989
5,293
2,687
1,263
3,955
2,142
5,584
3,350
3,049
325
5,635
1,442
12,421
1,794
11,519
1,611
1,154
8,754
94
77,017
65,373
49
1,297
562
9,053
3,523
2,525
998
3,037
5,264
2,707
1,249
3,795
2,105
5,688
2,500
3,027
337
5,698
1,446
12,243
1,792
11,644
1,644
1,179
8,821
82
77,430
65,486
48
1,383
563
8,845
3,501
2,508
993
3,034
5,252
2,684
1,252
3,839
2,142
5,745
2,585
3,011
342
5,774
1,420
12,246
1,820
11,944
1,662
1,233
9,048
211
783
420
1,959
1,281
721
560
937
1,830
867
398
973
624
1,411
89
604
117
2,590
277
793
676
4,728
1,189
464
3,075
86
628
120
2,547
288
811
684
4,738
1,190
468
3,080
866
416
997
591
1,485
91
638
120
2,666
287
822
688
4,840
1,184
471
3,186
886
5,180
210
203
1,221
3,012
5,446
2,675
2,771
2,523
3,022
3,532
1,225
3,459
570
3,097
1,465
1,412
569
4,888
276
1,048
1,337
8,549
1,389
923
6,238
222
215
1,264
3,175
5,468
2,686
2,686
2,766
2,561
3,113
3,595
1,273
3,561
584
3,124
1,555
1,553
572
5,019
282
1,059
1,368
8,548
1,366
933
6,249
2,781
2,581
3,101
3,570
1,342
3,586
549
3,239
1,608
1,553
574
5,012
288
1,062
1,374
8,675
1,350
933
6,393
220
1,254
3,085
5,547
2,763
2,784
2,736
3,149
3,563
1,880
3,611
548
3,392
1,450
1,490
586
5,108
286
1,082
1,433
8,703
1,328
921
6,454
211
268
1,335
3,046
5,781
2,833
2,948
2,773
3,212
3,532
1,332
3,710
558
3,609
1,564
1,540
605
5,336
290
1,091
1,448
9,012
1,385
961
6,666
11
6,865
95
76,435
65,319
33
1,212
533
9,410
3,370
2,389
981
2,986
5,263
2,469
1,239
3,846
2,237
5,598
2,741
3,034
309
5,475
1,458
12,371
1,737
11,117
1,577
1,085
8,454
12
1
7,071
3
5
6
7
8
9
13
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
88
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
New Hampshire
Item
2007
Line
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent 4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction
Manufacturing
Durable goods
Nondurable goods...............................................
Wholesale trade
Retail trade
Transportation and warehousing..............................
Information
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
New Jersey
II
2008
III
IV
llr
I'
2007
II|p
I
II
2008
III
IV
\'
II'
III"
1
53,674
54,548
54,632
55,280
55,913
56,360
56,549
423,373
425,063
428,439
433,820
439,956
440,552
442,150
2
3
39,146
4,332
39,995
4,431
39,651
4,384
40,086
4,432
40,708
4,561
40,649
4,552
40,854
4,566
301,439
34,643
303,181
34,863
303,053
34,881
307,225
35,359
313,253
36,453
310,325
36,059
311,756
36,113
4
2,382
2,437
2,410
2,436
2,511
2,508
2,517
18,212
18,225
18,119
18,303
18,921
18,722
18,756
5
1,994
4,321
39,885
8,265
6,398
98
1,974
4,460
39,727
8,434
6,471
99
1,996
4,592
40,245
8,504
6,531
103
2,050
4,620
40,767
8,480
6,665
10
1,949
4,403
39,218
8,074
6,383
95
112
2,044
4,652
40,749
8,551
7,060
138
2,050
4,674
40,961
8,645
6,942
168
16,431
38,660
305,457
66,097
51,819
1,811
16,637
37,120
305,438
67,744
51,882
1,782
16,762
38,497
306,670
69,256
52,513
1,893
17,056
39,064
310,930
69,950
52,940
1,920
17,532
39,446
316,246
69,729
53,981
2,046
17,337
39,372
313,638
69,653
57,261
2,182
17,357
39,644
315,287
69,933
56,930
3,362
11
6,288
6,300
6,372
6,427
6,553
6,923
6,775
50,008
50,099
50,620
51,020
51,935
55,080
53,568
12
28,320
13
6,021
28,973
6,184
28,665
6,133
29,048
6,196
29,598
6,326
29,513
6,331
29,689
6,359
220,386
45,922
221,397
46,307
220,964
46,192
224,224
46,753
229,088
47,785
226,322
47,414
227,316
47,539
14
4,072
4,190
4,158
4,200
4,277
4,287
4,309
29,491
29,669
29,430
29,697
30,253
30,077
30,182
15
16
17
18
1,949
4,805
1,974
4,853
4,785
2,044
4,805
-4
4,809
2,050
4,806
-5
4,811
16,431
35,131
46
35,085
16,637
35,477
29
35,448
16,762
35,898
54
35,844
17,056
36,247
42
36,206
17,532
36,380
25
36,355
17,337
36,589
4,847
1,996
4,841
5
4,837
2,050
4,784
4,802
1,994
4,839
3
4,836
17,357
36,901
25
36,876
19
37
39,109
34,336
39
39,957
35,156
43
39,608
34,697
41
40,044
35,121
133
58
362
2,450
6,398
4,952
1,445
2,524
3,600
706
36
40,672
35,680
115
62
365
2,440
6,538
5,072
1,466
2,555
3,623
700
1,152
2,895
745
3,725
707
1,527
1,059
4,726
401
34
40,616
35,523
117
55
379
2,422
6,332
4,863
1,469
2,569
3,610
704
1,217
2,863
739
3,733
728
1,490
1,068
4,738
399
32
40,821
35,676
116
60
378
2,377
6,330
4,855
1,475
2,590
3,619
700
1,227
229
301,210
257,982
128
303
2,205
15,694
33,041
12,498
20,543
21,627
19,250
10,617
12,074
28,325
7,063
35,991
9,471
11,574
3,745
29,067
2,434
216
302,965
257,936
134
307
2,277
15,830
32,518
12,579
19,939
21,512
19,264
10,629
12,410
27,634
7,107
36,116
9,481
11,856
3,745
29,224
2,471
244
302,809
259,523
137
312
2,269
15,947
32,057
12,331
19,727
233
306,992
263,169
138
322
2,341
15,905
32,505
12,729
19,775
22,241
19,525
10,745
12,947
28,437
6,672
37,399
9,890
12,014
3,841
29,937
2,627
218
313,034
268,332
138
340
2,266
15,805
32,639
12,832
19,807
22,453
19,332
10,850
13,311
29,629
6,882
38,427
11,103
12,080
3,891
30,443
2,664
7,993
8,085
44,702
6,304
1,399
36,999
217
310,108
264,576
138
347
2,309
15,419
32,235
12,814
19,421
22,490
19,216
10,761
12,700
28,838
6,626
38,068
9,917
12,134
3,973
30,772
2,656
7,974
8,005
45,531
6,394
1,413
37,724
6
7
8
9
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
2
6
122
122
122
60
360
2,608
6,062
4,668
1,394
2,488
3,597
699
1,031
2,684
785
3,389
991
1,396
986
4,399
372
1,164
1,143
4,773
796
156
3,821
59
362
2,589
6,281
4,869
1,412
2,533
3,614
711
1,124
2,801
773
3,410
1,192
1,381
1,041
4,456
377
60
383
2,553
6,201
4,802
1,399
2,515
3,615
696
1,089
2,723
672
3,468
892
1,443
1,014
4,535
384
1,122
2,740
733
3,645
690
1,547
1,042
4,612
409
-1
2,866
755
3,795
738
1,501
1,079
4,783
391
21,688
19,365
10,613
12,725
27,879
6,858
36,580
9,553
11,950
3,777
29,704
2,512
1,178
1,172
1,178
1,172
1,175
1,172
7,823
7,786
7,800
7,921
1,153
4,801
792
160
3,849
1,159
4,911
796
162
3,953
1,172
4,924
808
162
3,954
1,172
4,993
801
167
4,024
1,183
5,092
809
171
4,113
1,197
5,146
813
175
4,157
7,551
43,228
6,484
1,341
35,403
7,636
45,028
6,495
1,347
37,186
7,796
43,286
6,284
1,365
35,637
7,762
43,823
6,230
1,346
36,247
22
36,567
222
311,535
265,633
135
377
2,303
15,360
32,139
12,702
19,437
22,539
19,248
10,665
12,827
28,760
6,747
38,449
10,082
12,246
4,042
31,055
2,597
7,961
8,102
45,901
6,443
1,425
38,033
January 2009
Su r v ey
of
89
C u r r e n t B u sin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
New Mexico
New York
2007
I
II
2008
III
IV
I'
II'
North Carolina
2007
HIP
2007
2008
Line
2008
I
II
III
IV
lr
II'
IIIP
I
II
III
IV
I'
II'
II|p
59,096
59,738
60,839
61,476
62,509
64,073
63,933
893,264
887,029
904,449
917,303
928,865
935,060
937,678
300,735
302,806
306,303
310,249
312,139
319,800
318,843
1
43,252
4,695
43,676
4,710
44,503
4,783
44,972
4,830
45,747
4,954
45,900
4,988
46,352
5,032
728,713
77,073
713,008
74,835
727,296
75,689
738,694
76,469
750,899
78,418
746,674
78,008
752,311
78,338
228,538
26,567
229,321
26,535
231,033
26,695
234,092
27,014
235,181
27,402
236,779
27,623
237,922
27,698
3
2,511
2,517
2,554
2,576
2,649
2,668
2,692
39,135
37,771
38,364
38,750
39,859
39,554
39,706
13,862
13,840
13,897
14,050
14,284
14,406
14,449
4
2,184
314
38,871
9,146
11,079
123
2,192
320
39,286
9,345
11,107
124
2,229
325
40,046
9,523
11,270
136
2,254
332
40,474
9,608
11,393
143
2,305
335
41,128
9,705
11,676
160
2,320
335
41,246
9,897
12,930
169
2,340
37,938
341 -49,091
41,660 602,549
10,039 147,104
12,234 143,611
227
1,980
37,064
37,325
-46,837 -48,634
591,336 602,973
151,710 155,927
143,982 145,549
2,093
2,200
37,719
38,559
-49,483 -50,277
612,742 622,203
157,828 157,172
146,732 149,490
2,260
2,453
38,454
38,631
-49,668 -50,008
618,999 623,965
157,189 158,185
158,872 155,528
2,488
3,883
12,705
-1,086
200,885
49,269
50,581
682
12,695
-1,077
201,710
50,477
50,619
596
12,798
-1,064
203,275
51,563
51,465
731
12,964
- 1,102
205,976
52,084
52,189
909
13,118
-1,105
206,674
52,167
53,298
771
13,217
- 1,121
208,035
52,877
58,887
1,075
13,249
- 1,120
209,103
53,504
56,236
1,434
5
10
10,956
10,983
11,134
11,251
11,516
12,761
12,007
141,631
141,889
143,349
144,472
147,037
156,384
151,644
49,899
50,024
50,734
51,280
52,527
57,812
54,803
11
31,403
7,629
31,604
7,709
32,192
7,900
32,618
7,935
33,152
8,075
33,340
8,149
33,722
8,233
532,680
110,633
517,508
109,002
528,902
109,760
537,398
110,921
546,325
112,933
541,299
113,132
544,764
113,820
168,977
40,075
169,293
40,288
170,601
40,576
173,233
41,065
174,061
41,515
175,281
41,998
176,244
42,268
13
2
6
7
8
9
12
5,445
5,517
5,671
5,681
5,771
5,829
5,892
72,695
71,939
72,435
73,202
74,374
74,678
75,189
27,370
27,593
27,778
28,101
28,397
28,782
29,019
14
2,184
4,220
258
3,963
2,192
4,363
356
4,007
2,229
4,411
364
4,047
2,254
4,419
325
4,093
2,305
4,519
400
4,119
2,320
4,410
249
4,162
2,340
4,398
162
4,235
37,938
85,400
562
84,838
37,064
86,498
627
85,871
37,325
88,635
742
87,892
37,719
90,375
716
89,659
38,559
91,641
623
91,018
38,454
92,243
543
91,700
38,631
93,726
535
93,191
12,705
19,486
1,017
18,469
12,695
19,740
1,228
18,511
12,798
19,856
1,336
18,520
12,964
19,794
1,247
18,547
13,118
19,605
13,217
19,500
1,220
1,022
18,385
18,479
13,249
19,409
869
18,541
15
16
17
18
509
42,743
31,419
611
43,064
31,760
125
1,911
364
3,003
2,655
1,986
669
1,431
3,202
1,245
819
1,556
721
5,083
349
1,685
370
4,256
303
1,461
622
43,881
32,039
130
1,935
417
3,071
2,709
2,039
671
1,452
3,168
1,251
879
1,607
702
4,874
357
1,718
380
4,358
307
1,484
1,240
11,841
2,904
1,131
7,806
584
44,389
32,753
660
45,086
33,204
163
2,064
459
3,286
2,633
1,933
700
1,500
3,260
1,236
938
1,616
689
5,252
323
1,754
392
4,539
302
1,519
1,280
11,882
2,985
1,103
7,795
512
45,388
33,453
136
2,193
463
3,247
2,651
1,943
708
1,509
3,285
1,249
958
1,600
701
5,193
352
1,779
404
4,566
321
1,541
1,306
11,935
3,023
1,088
7,824
428
45,924
33,823
134
2,423
456
3,222
1,050
1,173
975
727,738 711,958 726,124
625,519 606,859 624,896
1,197
1,227
1,137
2,016
2,031
1,938
6,394
6,199
6,673
28,367
27,887
28,698
46,144
46,235
46,030
26,234
25,884
26,168
20,352
19,976
19,797
32,683
31,723
31,408
34,144
34,389
34,514
14,234
15,131
14,199
41,954
41,411
42,431
154,234 132,299 146,100
16,818
16,623
16,011
79,495
80,618
82,723
22,344
19,790
21,314
21,890
22,365
21,849
15,205
15,506
14,978
69,127
69,671
68,560
9,297
9,494
9,223
15,707
15,915
16,134
17,692
17,791
18,105
102,219 105,099 101,228
11,788
11,812
11,728
3,513
3,563
3,482
89,797
85,937
86,925
1,150
737,545
634,907
1,254
1,061
749,837
645,052
1,308
2,258
6,467
30,001
46,362
26,476
19,886
32,432
35,145
14,770
44,307
152,636
16,154
86,960
20,587
23,295
16,112
71,388
9,381
16,543
18,946
104,785
11,948
3,649
89,188
985
745,689
638,854
1,325
2,376
6,893
29,904
46,966
26,952
20,014
32,337
35,291
14,472
44,928
143,285
15,990
87,596
20,752
23,058
16,431
72,301
9,693
16,682
18,573
106,836
12,058
3,754
91,023
1,758
1,994
981
1,983
2,099
2,013
751,330 226,780 227,338 228,935 232,080 233,187
643,302 182,046 182,067 182,605 185,168 185,372
659
682
652
1,304
668
663
352
2,569
455
440
401
366
1,468
1,540
1,430
1,526
1,529
6,750
15,141
15,006
14,993
14,828
14,351
30,158
35,592
35,027
34,672
35,114
35,190
46,825
19,637
19,477
19,576
19,587
26,848
19,453
15,955
15,550
15,097
15,527
15,737
19,977
13,204
32,308
12,551
12,748
12,946
12,946
15,343
15,564
15,584
35,408
15,556
15,662
6,400
6,482
6,416
14,466
6,523
6,573
5,862
5,915
45,310
5,973
6,066
6,285
15,153
14,404
14,284
143,640
14,591
14,623
4,058
4,003
3,882
3,802
3,841
16,258
16,258
16,576
16,980
17,338
17,484
89,078
6,702
20,738
7,028
6,902
7,146
7,256
8,114
8,234
23,290
8,358
8,565
8,745
2,830
2,877
3,074
16,708
2,928
3,075
20,654
73,298
21,086
21,315
21,706
22,256
2,046
2,141
2,122
2,194
2,201
9,566
16,814
6,083
6,121
6,163
6,248
6,280
6,411
18,816
6,353
6,419
6,520
6,486
44,734
45,270
108,028
46,330
46,911
47,815
5,567
5,583
5,679
5,822
12,123
5,640
3,904
10,011
10,246
10,369
10,498
11,056
29,157
29,441
30,320
30,734
30,937
92,001
1,802
234,977
186,374
649
356
1,527
14,115
34,971
19,503
15,468
13,265
15,581
6,502
6,225
14,814
3,859
17,783
7,383
8,705
3,137
22,431
2,217
6,321
6,532
48,603
5,883
11,355
31,365
120
1,795
365
2,972
2,582
1,914
669
1,409
3,154
1,232
835
1,569
719
5,097
365
1,667
361
4,205
298
1,458
1,215
11,324
2,894
1,154
7,276
1,222
11,304
2,897
1,149
7,258
121
1,975
434
3,153
2,686
1,973
713
1,478
3,255
1,268
925
1,693
694
5,039
379
1,748
383
4,425
307
1,525
1,263
11,636
2,907
1,083
7,646
2,668
1,953
715
1,512
3,301
1,227
973
1,601
711
5,249
357
1,795
407
4,615
315
1,544
1,314
12,101
3,051
1,099
7,951
2,102
6,391
29,574
46,400
26,583
19,817
32,239
34,920
14,498
42,998
147,710
16,260
85,613
21,269
22,825
15,820
70,798
9,638
16,458
18,141
102,638
11,708
3,513
87,418
1,656
236,266
186,820
640
390
1,526
13,956
34,867
19,384
15,483
13,264
15,602
6,437
6,271
14,788
3,942
17,986
7,467
8,668
3,207
22,737
2,167
6,332
6,572
49,446
5,976
11,697
31,773
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
Regional Quarterly Report
90
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
North Dakota
Item
II
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent 4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5 ...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction
Manufacturing
Durable goods
Nondurable goods................................................
Wholesale trade
Retail trade
Transportation and warehousing..............................
Information
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Ohio
2007
Line
2007
2008
III
IV
II'
I'
III”
I
II
2008
III
IV
lr
II'
IIIP
1
22,338
22,592
23,291
23,781
24,386
25,182
25,211
392,984
393,662
396,729
399,464
402,791
409,583
408,858
2
18,307
2,072
18,966
3
18,091
2,039
19,500
2,178
20,104
2,244
20,678
2,278
20,807
2,300
299,424
32,628
298,552
32,380
299,847
32,390
301,454
32,479
304,013
33,045
305,062
33,166
306,167
33,222
4
1,039
1,057
1,074
1,107
1,144
1,162
1,173
16,264
16,169
16,192
16,238
16,575
16,649
16,687
5
1,015
-698
15,538
3,604
3,451
50
1,037
-718
16,136
3,673
3,482
45
1,070
-754
16,568
3,705
3,508
44
1,100
-785
17,075
3,735
3,576
47
1,116
-806
17,595
3,775
3,812
51
1,127
-818
17,689
3,812
3,711
68
16,364
-1,799
264,997
59,133
68,854
1,144
16,211
-1,746
264,427
60,287
68,948
10
999
-681
15,371
3,528
3,438
44
1,111
16,198
-1,737
265,720
61,322
69,687
1,127
16,241
-1,712
267,264
61,831
70,369
1,253
16,469
-1,710
269,258
61,809
71,724
1,339
16,517
-1,696
270,200
62,351
77,032
1,482
16,534
-1,684
271,262
61,631
75,965
2,054
11
3,394
3,400
3,437
3,465
3,528
3,760
3,643
67,710
67,837
68,560
69,116
70,385
75,551
73,911
12
13
12,013
2,969
12,237
3,039
12,472
3,107
12,897
3,190
13,175
3,263
13,359
3,315
13,522
3,344
221,026
50,910
219,937
50,883
220,580
51,073
221,884
51,157
223,846
51,829
224,489
52,122
225,583
52,319
14
1,970
2,025
2,070
2,119
2,163
2,199
2,218
34,546
34,671
34,876
34,916
35,360
35,605
35,785
15
16
17
18
999
3,109
1,434
1,675
1,015
3,031
1,342
1,689
1,037
3,387
1,687
1,699
1,070
3,413
1,685
1,728
1,100
1,116
4,004
2,257
1,748
1,127
3,941
2,177
1,763
16,364
27,489
536
26,952
16,211
27,732
479
27,253
16,198
28,193
768
27,425
16,241
28,414
775
27,639
16,469
28,339
799
27,540
16,517
28,451
754
27,697
16,534
28,264
717
27,547
19
1,601
16,490
12,696
99
474
376
1,109
1,489
941
548
1,091
1,224
706
456
1,513
16,794
12,946
103
488
395
1,087
1,500
948
552
1,113
1,250
726
475
881
219
802
284
367
93
2,139
77
443
502
3,848
790
750
2,308
1,862
17,103
13,188
108
493
405
1,133
1,541
997
544
1,146
1,264
734
496
914
214
820
295
373
95
1,861
17,639
13,701
109
542
409
1,247
1,612
1,057
555
1,196
1,299
750
481
930
217
856
292
385
91
2,213
79
466
527
3,937
791
755
2,391
2,436
18,242
14,182
2,358
18,448
14,348
109
697
420
1,297
1,632
1,052
580
1,263
1,343
801
481
960
234
899
307
379
1,037
298,388
252,750
265
1,654
2,307
15,434
56,436
39,551
16,885
16,702
18,801
11,165
5,959
18,539
4,864
22,931
11,372
11,187
3,360
33,196
2,559
7,360
8,662
45,637
7,466
1,894
36,277
987
297,565
252,129
266
1,767
2,407
15,666
55,582
38,917
16,665
16,834
18,610
11,288
6,058
17,721
4,822
23,268
11,182
11,161
3,411
33,439
2,512
7,406
8,729
45,436
7,492
1,906
36,038
1,279
298,568
252,427
269
1,655
2,445
15,514
54,972
38,471
16,501
17,035
18,531
11,216
6,060
18,234
4,705
23,493
10,943
11,369
3,473
33,905
2,529
7,392
1,286
300,168
254,137
271
1,744
2,440
15,381
54,472
38,319
16,153
17,184
18,555
11,351
6,182
18,123
4,615
24,310
11,351
11,555
3,519
34,316
2,498
7,456
8,814
46,031
7,559
1,896
36,576
1,315
302,698
255,402
266
1,805
2,705
15,142
54,724
37,994
16,730
17,286
18,714
11,440
6,150
18,158
4,646
24,444
11,287
11,679
3,614
34,722
2,493
7,405
8,722
47,295
7,833
1,970
37,492
1,275
303,787
256,275
263
1,905
2,512
14,692
54,682
38,216
16,466
17,527
18,640
11,475
1,243
304,924
256,873
260
2,046
2,505
14,550
54,616
38,042
16,574
17,550
18,647
11,358
6,276
17,908
4,467
24,967
11,925
11,670
3,716
35,535
2,574
7,444
8,858
48,051
8,023
2,029
37,999
6
7
8
9
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
866
221
774
298
360
91
2,059
76
431
495
3,794
783
743
2,268
2,111
2,122
78
447
510
3,915
790
761
2,364
3,667
1,944
1,722
2,122
17,982
13,979
105
591
425
1,238
1,640
1,073
567
1,225
1,309
784
467
960
223
865
298
386
101
2,285
80
472
524
4,003
805
782
2,416
110
642
423
1,267
1,631
1,051
581
1,251
1,328
789
482
957
228
892
308
373
98
2,317
81
474
531
4,060
819
785
2,456
101
2,333
80
480
532
4,101
821
786
2,493
8,688
46,141
7,511
1,913
36,717
6,212
17,932
4,636
24,674
11,792
11,693
3,668
35,117
2,620
7,454
8,781
47,512
7,940
1,979
37,593
January 2009
Survey
of
91
C u r r e n t B usin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
Oklahoma
Oregon
2007
2008
Pennsylvania
2007
2008
2007
Line
2008
I
II
III
IV
I'
II'
IIIp
I
II
III
IV
I'
II'
III p
I
II
III
IV
I'
II'
III p
123,076
125,081
127,527
129,435
131,124
135,016
135,225
128,679
130,207
132,288
133,871
134,586
136,915
137,290
474,983
478,341
484,023
489,216
493,705
502,791
504,158
1
89,657
9,326
91,258
9,476
93,217
9,742
94,704
9,883
95,957
97,636
10,282
98,832
10,391
96,946
11,917
97,923
11,983
99,312
12,111
100,509
12,228
100,694
12,382
101,200 101,631
10,111
4,895
4,987
5,130
5,207
5,341
5,432
5,488
5,835
5,881
5,947
6,008
4,431
1,219
81,551
20,534
20,991
167
4,489
1,235
83,017
21,030
21,034
161
4,613
1,232
84,706
21,493
21,328
174
4,675
1,304
86,126
21,775
21,534
165
4,770
1,274
87,121
21,972
22,032
172
4,851
1,280
88,633
22,285
24,097
197
4,903
1,288
89,729
22,449
23,047
292
6,081
-2,417
82,613
26,148
19,918
516
6,102
6,164
-2,451
84,750
27,322
20,215
543
6,220
-2,436
83,504
26,761
19,943
500
20,824
20,873
21,153
21,369
21,860
23,900
22,755
19,403
19,443
56,789
14,702
57,593
14,910
59,059
15,229
59,973
15,358
60,794
15,622
61,731
15,894
62,530
16,080
70,318
16,457
10,271
10,420
10,616
10,683
10,852
11,044
11,177
4,431
18,166
38
18,127
4,489
18,755
228
18,528
4,613
18,929
233
18,696
4,675
19,373
198
19,174
4,770
19,541
-140
19,681
4,851
4,903
20,011
20,221
-373
20,384
-551
20,773
341
89,316
70,721
194
7,887
1,742
3,989
14,292
5,895
8,397
3,630
5,647
3,433
2,019
3,471
1,574
4,980
1,007
3,368
614
7,917
551
2,007
2,398
18,595
4,172
2,720
11,704
539
90,719
72,001
549
92,668
73,659
207
8,920
1,736
4,199
14,558
6,051
8,508
3,747
5,771
3,448
2,082
3,532
1,545
5,150
1,226
3,563
629
8,156
576
517
94,187
75,229
182
95,776
76,453
195
9,418
1,808
4,451
15,230
6,261
8,968
3,902
5,879
3,538
2,197
3,718
1,445
5,344
1,092
3,749
648
8,521
561
2,164
2,596
19,323
4,276
2,707
12,340
-48
97,684
78,178
197
10,123
1,794
4,495
15,717
6,436
9,282
3,989
5,930
3,525
2,232
3,750
1,421
5,458
1,130
3,826
661
8,559
577
2,193
2,601
19,506
4,345
2,743
12,417
-224
99,056
79,325
195
10,983
1,793
4,490
15,740
6,532
9,208
4,023
5,958
3,517
2,246
3,760
1,453
5,554
1,128
3,797
202
8,464
1,608
4,062
14,501
5,952
8,549
3,676
5,705
3,572
2,019
3,413
1,427
5,074
1,052
3,455
621
8,089
569
2,035
2,455
18,718
4,161
2,697
11,860
2,100
2,515
19,008
4,178
2,696
12,135
211
9,266
1,799
4,365
14,857
6,184
8,674
3,926
5,862
3,483
2,109
3,622
1,456
5,314
1,106
3,677
636
8,290
534
2,142
2,574
18,959
4,171
2,651
12,137
666
8,632
573
2,208
2,608
19,731
4,370
2,824
12,537
2
12,455
12,472
350,835
41,139
352,701
41,177
356,427
41,554
360,478
41,930
363,592
42,678
367,403
43,169
369,439
43,302
3
6,101
6,142
6,153
21,177
21,243
21,450
21,655
22,096
22,366
22,443
4
-2,479
85,801
27,647
20,423
574
6,282
-2,526
85,786
27,849
20,951
698
6,313
-2,547
86,198
28,334
22,383
746
6,319
-2,542
86,617
28,630
22,043
1,070
19,963
4,688
314,383
74,505
86,096
2,239
19,934
4,632
316,156
75,995
86,190
2,163
20,104
4,538
319,410
77,353
87,260
2,268
20,275
4,592
323,140
78,047
88,029
2,295
20,582
4,750
325,665
78,072
89,968
2,539
20,803
4,465
328,699
78,684
95,407
2,725
20,860
4,474
330,610
79,147
94,401
3,887
10
19,673
19,849
20,252
21,637
20,972
83,856
84,026
84,992
85,734
87,430
92,682
90,514
11
71,015
16,672
71,996
16,896
72,997
17,094
73,258
17,237
73,636
17,371
73,961
17,449
252,473
57,057
253,442
57,391
256,232
57,925
259,440
58,375
261,636
59,072
264,420
59,809
266,001
60,093
13
10,376
10,570
10,732
10,874
10,955
11,058
11,130
37,094
37,457
37,820
38,100
38,490
39,006
39,233
14
6,081
10,172
6,102
6,164
10,420
327
10,093
6,220
6,313
10,194
6,319
10,417
273
10,145
6,282
10,198
173
10,025
10,082
89
10,132
19,963
41,305
689
40,616
19,934
41,868
783
41,084
20,104
42,270
921
41,349
20,275
42,662
921
41,741
20,582
42,884
1,071
41,813
20,803
43,174
941
42,233
20,860
43,345
883
42,462
15
16
17
18
1,223
98,089
81,854
1,473
228
728
6,800
14,340
11,341
2,999
6,461
6,933
3,393
2,881
4,921
1,909
7,002
2,748
3,397
1,027
10,646
820
3,045
3,103
16,235
2,723
556
12,955
1,170
99,338
82,924
1,452
225
722
6,716
14,798
11,774
3,024
6,389
6,895
3,405
2,925
5,031
1,843
7,184
2,955
3,440
1,059
10,937
751
3,081
3,115
16,414
2,721
550
13,143
1,081
99,613
82,857
1,389
230
738
6,487
14,863
11,799
3,064
6,419
6,904
3,408
2,958
4,949
1,851
7,274
2,766
3,470
1,074
11,052
798
3,092
3,135
16,756
2,873
568
13,315
1,028
100,173
83,240
1,378
234
726
6,337
14,713
11,623
3,090
6,606
6,871
3,423
2,943
4,907
1,843
7,362
2,905
3,473
1,095
11,311
834
3,114
3,165
16,932
2,890
575
13,466
100,619
83,307
1,359
253
725
6,204
14,594
11,485
3,109
6,601
6,855
3,369
2,959
4,897
1,863
7,472
2,936
3,451
1,132
11,528
820
3,109
3,180
17,312
2,906
604
13,803
1,119
1,223
349,716 351,478
304,258 305,801
464
468
2,707
2,599
3,776
3,746
20,676
20,732
48,708
48,728
29,160
29,469
19,548
19,259
18,758
18,885
21,447
21,749
13,159
13,306
10,252
10,318
25,234
24,779
6,619
6,508
34,752
35,101
11,739
11,810
10,960
11,203
9,194
9,271
44,191
44,719
3,146
3,131
8,071
8,118
10,464
10,570
45,458
45,677
9,846
9,840
1,785
1,796
33,827
34,042
1,367
355,060
308,724
470
2,804
3,830
20,751
48,578
29,464
19,114
19,127
21,593
13,155
10,511
25,084
6,306
35,840
12,421
11,328
9,530
45,383
3,180
8,152
10,680
46,336
9,873
1,820
34,643
1,370
359,108
312,810
469
2,837
3,896
20,725
48,809
29,596
19,212
19,111
21,807
13,289
10,633
25,634
1,525
362,067
315,347
467
2,965
4,019
20,570
49,765
30,157
19,607
19,607
1,399
366,005
318,863
474
3,131
4,046
20,444
49,714
30,246
19,468
19,859
21,903
13,354
11,041
25,971
6,435
37,599
13,116
11,685
9,936
47,439
3,335
8,296
11,085
47,142
10,165
1,860
35,117
1,345
368,094
320,270
468
3,420
4,028
20,279
49,561
30,084
19,477
19,899
21,909
13,250
211
9,961
1,084
95,862
80,231
1,424
223
685
6,643
14,277
11,218
3,059
6,302
6,835
3,349
2,653
4,935
1,971
6,778
2,659
3,346
998
10,390
759
2,962
3,043
15,631
2,728
542
12,361
10,236
180
10,056
1,068
96,855
80,977
1,446
229
672
6,789
14,345
11,339
3,006
6,341
6,875
3,407
2,801
4,836
1,939
6,803
2,695
3,357
1,011
10,606
761
3,005
3,058
15,879
2,728
544
12,606
112
10,221
1,012
6,201
36,726
13,035
11,586
9,649
45,971
3,254
8,333
10,845
46,298
9,857
1,808
34,633
21,888
13,348
10,964
26,037
6,371
36,631
12,410
11,488
9,893
46,550
3,219
8,198
10,956
46,720
10,110
1,842
34,768
11,120
25,858
6,546
38,014
13,289
11,686
10,128
48,055
3,277
8,309
11,172
47,824
10,376
1,902
35,546
5
6
7
8
9
12
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
January 2009
Regional Quarterly Report
92
Table 3. Personal Income by Major Source and
[Millions of dollars,
South Carolina
Rhode Island
Item
2007
Line
II
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds....................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing....
Durable goods
Nondurable goods
Wholesale trade.
Retail trade........
Transportation and warehousing..............................
Information........
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
2007
2008
III
IV
II'
I'
III"
I
II
2008
III
IV
I'
II'
III”
1
41,895
41,699
41,981
42,459
43,030
43,385
43,323
134,432
135,879
137,761
139,334
140,370
143,814
143,179
2
3
29,370
3,589
28,862
3,502
28,851
3,492
29,136
3,517
29,700
3,629
29,524
3,599
29,612
3,599
96,298
11,061
97,175
11,109
98,295
11,219
99,370
11,314
99,791
11,475
99,941
11,499
100,520
11,536
4
1,938
1,897
1,892
1,907
1,971
1,957
1,958
5,816
5,847
5,900
5,951
6,050
6,068
6,088
5
1,599
1,632
26,992
7,345
7,644
229
1,610
1,692
27,310
7,418
7,730
256
1,658
1,679
27,750
7,416
7,864
256
1,642
1,712
27,636
7,431
8,318
267
1,641
1,725
27,738
7,453
8,132
285
5,245
1,970
87,207
22,079
25,146
359
5,262
1,954
88,019
22,659
25,200
355
5,318
1,950
89,026
23,189
25,546
376
5,364
1,976
90,031
23,470
25,833
413
5,425
90,316
23,600
26,453
462
5,431
2,017
90,459
23,972
29,383
499
91,005
24,243
27,931
875
5,448
9
1,650
1,527
27,308
7,058
7,528
10
202
1,606
1,578
26,938
7,207
7,554
214
11
7,326
7,340
7,416
7,475
7,608
8,051
7,846
24,788
24,845
25,170
25,420
25,991
28,884
27,056
12
13
21,359
5,068
20,898
4,998
20,860
4,983
21,076
5,017
21,529
5,130
21,342
5,120
21,403
5,123
70,961
17,440
71,525
17,674
72,386
17,912
73,288
18,066
73,637
18,242
73,747
18,309
74,179
18,470
14
3,417
3,392
3,383
3,406
3,472
3,478
3,482
12,195
12,411
12,594
12,702
12,817
12,878
13,022
15
16
17
18
1,650
2,944
1,606
2,966
1,610
3,043
1,658
3,041
1,642
3,061
1,641
3,086
2
1
0
1
2,942
2,966
3,042
3,040
3,061
3,086
5,262
7,975
161
7,814
5,318
7,996
175
7,821
5,364
8,015
157
7,859
5,431
7,885
51
7,834
5,448
7,870
1
5,245
7,897
136
7,761
5,425
7,913
2
1,599
3,009
3
3,007
19
15
29,355
24,181
51
28
290
1,723
3,508
2,274
1,234
1,393
1,914
490
921
2,290
504
2,329
1,053
910
974
3,782
306
887
828
5,173
1,050
530
3,594
14
28,848
23,597
50
28
291
1,657
3,331
2,131
1,199
1,356
1,780
490
873
2,299
490
2,167
1,028
916
982
3,815
316
887
839
5,250
1,049
544
3,658
16
28,835
23,620
50
28
295
1,624
3,268
16
29,120
23,911
52
28
302
1,613
3,342
2,092
1,250
1,376
1,775
485
895
2,284
469
2,269
1,104
936
1,024
3,882
327
893
853
5,210
1,039
543
3,628
15
29,684
24,378
50
29
310
1,578
3,311
2,115
1,197
1,397
1,783
496
960
2,430
473
2,403
1,224
936
1,036
3,899
319
892
854
5,306
1,054
570
3,682
15
29,509
24,151
51
29
313
1,587
3,324
2,124
1,199
1,411
1,771
493
927
2,294
466
2,319
1,197
932
1,050
3,931
309
899
851
5,358
1,055
584
3,719
15
29,597
24,230
51
31
311
1,573
3,310
297
96,000
75,740
374
114
1,035
7,103
15,638
8,439
7,198
4,691
7,511
2,761
1,811
4,920
1,991
6,198
326
96,848
76,290
370
114
1,184
7,085
15,681
8,563
7,118
4,755
7,607
2,807
1,817
4,808
1,980
6,306
1,131
4,688
770
7,851
765
3,519
3,051
20,558
2,602
3,657
14,299
342
97,952
77,012
373
113
1,217
6,992
15,798
8,707
7,090
4,823
7,645
2,788
1,904
4,889
1,938
6,440
1,132
4,792
796
7,956
775
3,565
3,076
20,940
2,617
3,764
14,559
325
99,045
77,737
364
113
1,214
6,939
15,824
8,696
7,128
4,907
7,667
2,828
1,881
5,122
1,911
6,634
1,167
4,815
806
8,031
786
3,616
3,113
21,308
2,637
3,710
14,961
222
175
100,345
77,983
354
128
1,341
6,345
15,862
8,715
7,147
4,977
7,673
2,707
1,997
4,833
1,971
6,840
1,150
4,890
850
8,408
813
3,636
3,209
22,362
2,766
3,960
15,636
6
7
8
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
2,102
1,166
1,358
1,788
483
922
2,246
477
2,154
1,127
922
1,009
3,830
311
885
842
5,215
1,043
544
3,628
2,110
1,200
1,411
1,770
486
935
2,293
474
2,338
1,211
1,112
930
1,070
3,975
303
902
854
5,368
1,065
585
3,717
4,616
768
7,818
758
3,498
3,023
20,261
2,582
3,604
14,075
2,000
122
7,791
291
99,500
77,834
360
117
1,276
6,696
15,943
8,811
7,132
4,918
7,658
2,770
1,951
4,972
1,926
6,699
1,101
4,841
820
8,222
784
3,635
3,146
21,666
2,659
3,865
15,142
99,719
77,870
359
117
1,339
6,425
15,909
8,767
7,142
4,983
7,672
2,732
1,979
4,845
1,932
6,771
1,137
4,896
835
8,307
824
3,625
3,184
21,849
2,715
3,745
15,390
2,021
2
7,868
January 2009
Su r v ey
of
93
C u r r e n t B u sin ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
South Dakota
Tennessee
Texas
2007
2008
II
I
III
IV
llr
I'
lll»
2007
2008
2008
Line
2007
I
II
III
IV
V
llr
III p
I
II
III
IV
I'
II'
nip
27,639
28,043
28,766
29,137
29,642
30,118
30,049
202,023
204,118
206,166
209,567
210,786
214,491
213,710
863,617
877,502
890,776
906,509
921,167
943,262
944,892
1
19,718
2,108
20,023
2,140
20,635
2,180
20,923
2,215
21,373
2,297
21,397
2,283
21,496
2,305
158,528
17,170
160,075
17,297
161,217
17,401
164,542
17,752
165,059
17,988
164,605
17,924
165,300
17,948
708,956
68,843
720,511
69,699
730,258
70,573
744,733
71,807
757,977
73,762
764,125
74,212
774,633
75,169
3
1,167
1,185
1,204
1,223
1,271
1,264
1,276
9,409
9,479
9,522
9,710
9,859
9,832
9,847
36,018
36,546
37,019
37,686
38,799
39,067
39,589
4
941
-209
17,401
6,144
4,094
25
956
-214
17,669
6,269
4,105
27
976
992
-223
18,485
6,465
4,187
1,019
-232
18,881
6,619
4,618
28
1,029
-236
18,955
6,657
4,436
28
7,761
-1,209
140,148
25,363
36,512
425
7,817
-1,247
141,531
25,974
36,613
447
7,878
-1,266
142,550
26,516
37,100
483
8,041
-1,370
145,420
26,740
37,407
445
8,129
-1,276
145,795
26,729
38,262
509
8,092
-1,164
145,518
27,067
41,907
544
-1,114
146,238
27,432
40,040
833
32,826
-1,977
638,136
114,432
111,048
1,195
33,154
-2,041
648,771
117,454
111,277
1,141
33,554
-2,073
657,612
21
1,026
-239
18,837
6,528
4,277
25
8,101
18,236
6,387
4,143
16
1,211
34,121
-2,128
670,798
121,510
114,201
1,223
34,962
-2,196
682,019
121,919
117,229
1,430
35,145
-2,205
687,708
123,051
132,503
1,552
35,580
-2,267
697,197
117,765
129,930
2,272
10
4,069
4,078
4,127
4,165
4,252
4,590
4,409
36,088
36,167
36,617
36,963
37,753
41,362
39,207
109,853
110,136
111,742
112,978
115,799
130,950
127,658
11
13,076
3,149
13,278
3,210
13,508
3,274
13,756
3,318
14,138
3,417
14,034
3,418
14,202
3,457
110,903
25,078
111,971
25,388
112,757
25,520
115,402
25,986
115,800
26,217
115,301
26,173
115,778
26,252
471,151
104,183
478,555
105,707
485,510
107,030
495,800
108,848
504,486
110,749
507,177
111,724
515,265
113,250
12
2,208
2,254
2,299
2,326
2,391
2,398
2,428
17,317
17,570
17,642
17,944
18,088
18,081
18,151
71,357
72,553
73,477
74,727
75,787
76,579
77,670
14
941
3,493
1,186
2,307
956
3,535
976
3,853
1,513
2,341
992
3,849
1,490
2,359
1,026
3,818
1,478
2,340
1,019
3,946
1,590
2,356
1,029
3,836
1,468
2,368
7,761
22,546
-391
22,937
7,817
22,717
-387
23,104
7,878
22,941
-341
23,282
8,041
23,154
-328
23,482
8,129
23,042
-204
23,245
8,092
23,131
-215
23,346
8,101
23,270
-241
23,510
32,826
133,623
1,144
132,479
33,154
136,250
1,544
134,706
33,554
137,717
1,783
135,934
34,121
140,085
1,689
138,396
34,962
142,741
1,272
141,470
35,145
145,224
641
144,583
35,580
146,118
160
145,958
15
16
17
18
1,340
18,378
14,692
1,370
18,653
14,969
1,674
18,962
15,187
114
76
242
1,261
2,259
1,469
790
1,084
1,495
658
420
1,509
309
789
263
452
209
2,636
1,652
19,271
15,482
118
80
244
1,307
2,282
1,503
779
1,642
19,731
15,882
108
1,756
19,642
15,733
-220
-212
86
275
1,289
2,337
1,537
799
1,164
1,531
667
438
1,634
311
830
314
441
224
2,789
90
255
1,255
2,338
1,537
801
1,158
1,525
674
431
1,568
310
863
289
439
226
2,743
220
601
626
3,848
925
490
2,433
609
628
3,909
943
501
2,466
158,747
136,492
360
395
392
9,323
25,614
15,737
9,877
9,239
11,992
9,073
3,411
9,628
3,374
10,873
1,976
7,937
2,361
18,709
1,792
5,012
5,029
22,255
4,669
1,073
16,513
160,288
137,548
362
405
396
9,328
25,467
15,517
9,950
9,435
12,094
9,433
3,411
9,442
3,330
11,109
2,071
8,190
2,409
18,752
1,780
5,050
5,084
22,740
4,662
1,083
16,995
-163
161,381
138,390
357
409
418
9,423
25,176
15,347
9,829
9,435
12,250
9,084
3,577
9,778
3,255
11,386
2,274
8,153
2,478
19,028
1,798
5,041
5,072
22,991
4,662
1,092
17,237
-150
164,691
141,282
353
413
406
9,681
25,520
15,529
9,991
9,656
12,227
9,072
3,780
9,956
3,246
11,818
2,230
8,414
2,555
19,422
1,860
5,449
5,223
23,409
4,667
1,097
17,645
-23
165,082
141,176
333
440
419
9,300
25,928
15,404
10,524
9,587
12,261
9,098
3,664
10,033
3,264
11,716
2,600
8,506
1,884
19,933
1,778
5,166
5,264
23,907
4,739
1,127
18,041
-32
164,638
140,634
340
449
418
9,121
25,332
15,300
10,032
9,690
12,228
9,022
3,660
10,074
3,256
11,977
2,283
8,420
1,940
20,215
1,815
5,082
5,314
24,003
4,793
1,124
18,086
1,757
2,783
2,377
741,950 755,600 762,369
635,995 647,670 652,800
1,644
1,605
1,655
58,639
62,452
64,733
14,792
15,469
15,372
49,160
47,730
48,758
94,389
93,941
94,893
52,487
53,362
53,284
41,902
40,579
41,610
46,022
45,699
46,106
43,142
42,651
42,963
32,353
32,381
32,756
22,615
23,032
23,175
44,991
45,985
46,450
17,210
17,914
18,051
66,936
69,017
70,768
7,916
8,537
8,449
30,321
30,415
29,910
5,708
5,825
6,005
60,327
58,616
59,659
4,767
4,942
4,815
18,608
18,646
18,908
19,774
19,372
19,494
105,955 107,930 109,569
18,254
17,569
17,942
13,827
14,320
14,403
76,912
74,558
75,668
1,285
773,348
662,034
1,582
70,677
14,755
49,913
95,109
53,648
41,461
46,221
43,319
32,238
23,101
46,421
16,927
71,898
220
1,635
19,861
15,879
109
98
257
1,252
2,360
1,550
810
1,166
1,535
674
438
1,567
318
876
294
444
229
2,792
217
620
631
3,983
950
512
2,520
1,212
2,324
121
110
69
231
1,196
2,196
1,428
769
1,035
1,458
648
416
1,472
322
743
237
421
205
2,545
219
567
592
3,686
904
446
2,335
72
225
1,193
2,240
1,445
794
1,069
1,478
654
432
1,511
321
760
277
448
208
2,579
218
578
595
3,685
905
452
2,328
-220
221
585
604
3,775
909
463
2,403
1,110
1,529
668
437
1,510
306
811
274
464
218
2,672
227
603
621
3,789
904
464
2,421
111
-57
165,357
141,094
336
491
417
9,011
25,280
15,234
10,046
9,711
12,235
8,944
3,695
2,204
706,752
605,262
1,514
52,089
14,295
45,174
92,322
51,254
41,068
42,384
41,737
31,638
21,713
10,101 43,792
17,964
3,325
12,121 62,891
2,309
7,706
28,172
8,425
1,976
5,360
55,767
20,468
1,786
4,739
17,697
5,104
5,359
18,308
24,263 101,490
17,452
4,821
13,412
1,148
18,294
70,626
120,212
112,952
2,624
2,874
717,887 727,383
615,073 622,735
1,550
1,597
54,923
56,072
14,738
14,483
45,829
46,415
91,712
92,603
51,812
52,593
39,900
40,011
43,266
44,373
42,246
42,412
32,641
31,913
21,829
22,302
42,986
44,674
18,116
17,685
64,129
65,650
8,065
8,135
28,985
29,189
5,515
5,550
57,172
57,723
4,776
4,748
17,993
18,292
18,602
18,920
102,814 104,649
17,542
17,571
13,565
13,804
71,707
73,273
8,688
30,181
6,124
60,938
4,872
18,925
20,144
111,314
18,414
14,785
78,116
2
5
6
7
8
9
13
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
94
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Vermont
Utah
Item
Line
2007
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5 ...................................................
Farm proprietors' income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing...
Durable goods
Nondurable goods
Wholesale trade
Retail trade......
Transportation and warehousing..............................
Information......
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
II
2008
III
IV
I'
II 1
2007
lllp
I
II
2008
III
IV
I'
II'
IIIP
1
77,646
79,387
80,122
81,233
81,657
83,150
82,701
22,867
23,124
23,416
23,648
23,897
24,131
24,194
2
64,811
7,296
66,361
7,421
66,668
67,612
7,480
67,943
7,598
68,550
7,669
68,351
7,622
16,181
1,886
16,341
1,900
16,533
1,925
16,688
1,944
16,857
1,988
16,796
1,984
16,871
1,990
3
7,412
4
3,579
3,650
3,651
3,689
3,759
3,799
3,777
1,025
1,031
1,042
1,051
1,078
1,076
1,079
5
3,771
33
58,973
11,564
8,850
3,791
42
60,175
11,963
9,095
119
3,839
41
60,387
11,926
9,344
157
10,233
171
3,845
41
60,770
12,119
9,811
239
861
384
14,678
4,238
3,950
87
869
389
14,830
4,332
3,961
89
883
380
14,988
4,418
4,010
893
388
15,132
4,463
4,053
88
3,761
38
59,294
11,842
8,986
104
3,871
35
60,916
10
3,717
44
57,559
11,256
8,831
90
86
88
911
394
15,263
4,481
4,154
98
908
393
15,205
4,533
4,393
108
911
395
15,276
4,573
4,345
130
11
8,741
8,762
8,883
8,975
9,187
10,062
9,572
3,863
3,872
3,924
3,964
4,056
4,285
4,215
12
47,074
11,265
48,281
11,560
48,557
11,602
49,336
11,751
49,679
11,862
50,132
11,994
49,973
11,955
11,586
2,753
11,678
2,791
11,829
2,827
11,972
2,847
12,133
2,892
12,094
2,899
12,161
2,917
14
7,548
7,789
7,841
7,960
8,023
8,124
8,110
1,891
1,922
1,944
1,954
1,982
1,991
2,007
15
16
17
18
3,717
6,472
6,462
3,771
6,520
32
6,488
3,761
6,509
37
6,472
3,791
6,525
29
6,496
3,839
6,402
-31
6,432
3,871
6,423
-65
6,489
3,845
6,423
-98
6,521
861
1,842
118
1,724
869
1,872
140
1,732
883
1,877
148
1,729
893
1,869
141
1,728
911
1,832
130
1,702
908
1,802
106
1,697
911
1,792
94
1,699
19
164
64,647
53,124
70
1,077
452
5,791
7,821
5,268
2,553
3,071
5,004
2,669
1,763
3,848
1,383
5,827
1,432
2,343
958
4,868
580
1,720
2,446
11,523
3,131
897
7,495
189
66,172
54,439
73
1,216
454
5,777
7,897
5,300
2,597
3,097
5,087
3,301
1,881
3,805
1,397
5,987
1,389
2,389
971
4,875
603
1,744
2,498
11,733
3,156
910
7,666
195
66,473
54,563
187
67,426
55,205
72
1,186
513
5,597
8,215
5,551
2,664
3,252
5,266
2,771
1,962
3,903
1,341
6,300
1,426
2,360
1,015
5,073
590
1,813
2,551
129
67,814
55,435
69
1,236
500
5,211
8,325
5,589
2,737
3,244
5,160
2,784
96
68,454
55,943
75
1,311
480
5,083
8,389
5,613
2,776
3,322
5,144
2,684
2,038
3,968
1,362
6,836
1,474
2,375
1,031
5,277
592
1,861
2,639
12,511
3,250
939
8,322
64
68,287
55,665
74
1,435
479
4,857
8,333
5,549
2,784
3,348
5,152
2,649
2,056
3,928
1,384
6,620
1,488
2,336
1,046
5,391
583
1,867
2,639
12,622
3,234
954
8,434
174
16,006
13,076
74
51
226
1,179
2,418
1,839
579
646
1,340
376
340
791
198
16,144
13,190
75
52
259
1,166
2,458
1,874
585
642
1,360
385
338
757
218
1,225
26
362
481
2,099
139
675
473
2,953
532
158
2,263
207
16,327
13,315
74
53
242
1,133
2,463
200
190
16,667
13,595
73
63
240
1,080
2,496
1,913
583
672
1,377
393
343
872
218
1,305
166
16,630
13,526
76
58
229
1,014
2,495
1,904
591
690
1,381
397
345
804
213
1,331
154
16,717
13,569
75
64
229
6
7
8
9
13
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
10
68
1,160
508
5,706
8,010
5,419
2,591
3,161
5,203
2,845
1,947
3,837
1,380
6,038
1,401
2,392
989
5,048
589
1,781
2,500
11,910
3,132
923
7,855
12,221
3,134
919
8,167
2,001
3,941
1,357
6,382
1,530
2,386
1,019
5,256
563
1,854
2,616
12,379
3,207
940
8,231
12,002
220
1,213
26
357
480
2,073
141
654
472
2,931
531
156
2,243
1,886
576
653
1,354
380
351
800
216
1,264
25
376
501
2,144
143
668
476
3,012
539
160
2,313
16,488
13,459
75
53
219
1,102
2,459
1,884
575
658
1,377
387
347
863
210
1,297
25
387
501
2,191
148
678
482
3,029
542
160
2,327
1,001
2,485
1,894
591
690
1,383
394
348
800
218
1,347
20
20
20
411
516
396
518
2,246
141
679
492
3,104
559
173
2,373
397
527
2,275
139
681
497
3,148
571
183
2,394
2,210
141
675
489
3,072
553
166
2,352
January 2009
Su r v e y
of
95
C u r r e n t B u sin ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
Washington
Virginia
2007
West Virginia
2007
2008
2008
2008
2007
II
II
III
IV
I'
II'
III?
I
II
III
IV
lr
II'
III”
316,107
318,455
322,806
324,723
327,813
332,738
333,545
258,643
262,289
268,847
272,642
273,787
276,620
278,195
52,343
52,714
53,328
53,936
54,559
55,896
55,946
1
249,657
27,290
250,553
27,251
253,231
27,484
254,230
27,504
256,691
28,035
258,622
28,280
260,677
28,431
196,889
23,927
199,052
24,063
204,311
24,594
207,272
24,867
207,778
25,179
207,582
25,168
209,551
25,335
35,755
4,639
35,980
4,668
36,427
4,738
36,964
4,811
37,482
4,930
37,877
4,983
38,389
5,043
3
I
III
IV
lr
II'
Line
I
III?
2
14,274
14,283
14,411
14,434
14,743
14,882
14,966
11,191
11,298
11,588
11,735
11,910
11,910
11,994
2,250
2,256
2,282
2,310
2,375
2,401
2,429
4
13,016
8,529
230,897
49,642
35,568
368
12,968
8,600
231,902
50,901
35,652
369
13,072
8,856
234,603
52,057
36,145
385
13,070
8,860
235,587
52,618
36,518
391
13,291
9,236
237,893
52,515
37,405
441
13,397
9,110
239,452
52,626
40,659
500
13,466
9,249
241,495
52,897
39,153
678
12,735
2,898
175,860
49,410
33,373
702
12,766
2,923
177,911
50,948
33,430
694
13,006
2,911
182,628
52,355
33,863
754
13,132
2,950
185,355
53,086
34,201
805
13,269
3,003
185,602
53,211
34,973
923
13,258
3,034
185,448
53,878
37,295
1,032
13,341
3,034
187,251
54,442
36,503
1,285
2,389
1,025
32,141
6,696
13,506
170
2,412
1,033
32,346
6,846
13,523
167
2,456
1,023
32,712
6,980
13,636
165
2,501
1,015
33,169
7,038
13,729
168
2,556
210
2,614
985
34,331
7,246
14,369
232
5
33,554
7,053
13,952
188
2,582
1,003
33,897
7,153
14,846
10
35,200
35,284
35,761
36,127
36,965
40,159
38,475
32,671
32,737
33,109
33,396
34,050
36,262
35,218
13,335
13,356
13,472
13,561
13,764
14,637
14,136
11
183,763
45,356
184,159
45,649
186,179
46,115
187,093
46,139
188,875
46,809
190,360
47,324
191,912
47,651
142,979
33,612
144,651
34,031
148,735
34,816
151,181
35,275
151,639
35,540
151,416
35,593
152,865
35,978
25,068
7,108
25,137
7,207
25,438
7,338
25,822
7,430
26,238
7,549
26,485
7,655
26,861
7,746
12
32,341
32,681
33,043
33,068
33,518
33,927
34,185
20,877
21,265
21,810
22,143
22,271
22,335
22,637
4,719
4,796
4,882
4,930
4,994
5,073
5,132
14
13,016
20,537
12,968
20,745
152
20,593
13,072
20,937
188
20,749
13,070
20,999
172
20,827
13,291
21,007
195
20,812
13,397
20,938
131
20,806
13,466
21,114
12,735
20,298
452
19,846
12,766
20,370
367
20,003
13,006
20,760
612
20,147
13,132
20,815
536
20,279
13,269
20,599
385
20,214
13,258
20,573
291
20,282
13,341
20,709
264
20,445
2,389
3,579
-119
3,698
2,412
3,636
-103
3,738
2,456
3,650
-107
3,757
2,501
3,712
2,556
3,695
-144
3,839
2,582
3,737
-172
3,908
2,614
3,782
15
16
17
18
1,564
1,744
1,505
1,631
1,819
1,606
1,523
195,258 197,488 202,492 205,527 206,172 206,059 208,046
158,661 160,483 164,485 167,155 167,106 166,673 167,646
2,147
2,144
2,094
2,084
2,054
2,131
2,183
387
318
328
327
358
336
329
712
698
744
743
789
793
775
14,749
14,816
15,170
15,372
15,187
15,228
14,951
24,327
24,192
24,887
25,214
24,617
24,720
23,900
18,242
18,662
17,838
18,315
18,756
19,086
18,531
6,087
6,062
6,013
5,950
6,131
6,128
6,058
9,762
10,008
10,518
10,011
10,490
10,405
10,463
13,917
13,991
13,295
13,672
13,492
13,765
13,821
6,374
6,310
6,440
6,282
6,286
6,275
6,329
14,949
13,642
13,715
14,852
16,128
15,490
14,815
10,597
10,987
11,114
11,319
10,970
11,285
11,228
4,186
4,152
4,021
3,990
4,042
4,042
4,096
17,767
16,689
16,830
18,855
18,155
18,419
18,013
3,805
3,541
3,825
3,663
3,681
3,785
3,779
7,012
7,146
7,441
7,371
7,319
7,400
7,389
1,711
1,519
1,532
1,578
1,598
1,673
1,635
17,088
17,485
17,818
18,228
18,894
19,099
18,480
1,947
1,919
1,902
1,967
1,959
1,903
1,893
5,157
5,172
5,357
5,175
5,283
5,405
5,436
5,524
5,454
5,611
5,751
5,847
5,966
6,031
36,597
37,005
38,007
38,373
39,066
39,386
40,400
6,480
6,475
6,471
6,398
6,579
6,618
6,519
5,904
6,025
6,337
6,921
6,239
6,494
6,570
24,506
25,297
26,237
26,861
24,213
25,638
26,054
-89
35,843
27,732
118
2,760
569
2,439
3,912
2,165
1,747
1,466
2,615
1,247
625
1,127
418
1,915
303
911
-71
36,051
27,842
118
2,840
556
2,361
3,920
-74
36,501
28,140
118
2,918
617
2,273
3,907
2,206
1,701
1,448
-78
37,042
28,649
119
2,966
594
2,373
3,961
2,234
1,727
1,512
2,698
1,294
657
1,176
399
2,014
372
988
-111
-139
38,016
29,402
-166
38,556
29,893
109
3,694
635
2,397
3,931
2,205
1,726
1,525
2,720
1,305
675
1,198
414
2,136
352
1,031
227
4,987
333
1,093
1,133
8,663
2,198
438
6,027
88
20,449
66
21,048
374
412
397
422
305
361
297
249,352 250,179 252,819 253,834 256,268 258,261 260,380
188,356 188,709 190,408 191,274 192,491 193,885 195,266
322
331
338
334
321
317
328
1,289
1,594
1,270
1,295
1,313
1,395
1,465
2,174
2,027
2,214
2,316
2,217
2,145
2,231
15,887
15,844
15,760
15,136
14,643
15,393
14,565
17,764
18,048
18,050
17,798
18,269
17,898
17,769
10,897
10,524
10,979
10,363
10,650
10,775
10,483
7,150
7,290
7,401
7,248
7,275
7,273
7,286
9,544
9,657
9,415
9,581
9,611
9,585
9,665
13,658
13,694
13,724
13,612
13,678
13,771
13,814
6,178
6,283
6,175
6,291
6,356
6,341
6,265
9,537
9,414
9,652
9,563
9,798
9,900
9,456
13,654
13,397
12,835
12,867
13,742
12,720
13,281
5,392
5,381
5,317
5,260
5,225
5,327
5,556
42,237
39,786
40,846
41,939
43,483
44,059
39,681
8,911
8,869
8,531
8,916
8,616
8,621
8,759
8,477
8,190
8,626
8,690
8,724
8,090
8,563
2,771
2,882
2,742
2,924
2,939
3,021
3,079
17,937
18,917
17,530
18,221
18,665
19,500
19,786
1,598
1,652
1,503
1,606
1,672
1,553
1,613
6,072
6,099
6,192
6,242
6,016
6,281
6,303
8,021
8,050
8,173
8,334
8,458
8,553
8,642
63,777
64,376
60,996
61,470
62,411
62,560
65,114
19,664
20,192
19,368
19,619
19,753
20,529
20,694
14,937
15,094
15,208
15,695
15,128
15,536
15,799
26,757
27,539
28,152
28,621
26,691
27,679
28,050
2,202
1,719
1,484
2,654
1,280
630
1,123
405
1,940
311
942
212
210
4,665
363
960
1,106
4,642
356
997
1,074
8,209
2,108
403
5,697
8,111
2,105
398
5,608
2,666
1,268
651
1,161
393
1,971
362
952
216
4,775
352
1,020
1,072
8,361
2,098
409
5,853
-110
3,822
222
4,810
355
1,060
1,080
8,394
2,089
409
5,895
1,002
37,593
29,094
111
110
3,109
629
2,356
3,937
2,203
1,734
1,521
2,712
1,323
687
3,320
633
2,393
3,946
2,217
1,730
1,532
2,726
1,303
1,201
1,205
405
2,096
352
1,023
225
4,936
338
1,076
1,117
8,614
2,174
426
6,014
406
2,054
356
1,011
226
4,945
338
1,072
1,099
8,499
2,140
416
5,944
668
-200
3,982
6
7
8
9
13
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
96
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Wisconsin
Item
Line
2007
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5 ...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing.
Durable goods
Nondurable goods
Wholesale trade
Retail trade....
Transportation and warehousing..............................
Information....
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Wyoming
II
2007
2008
III
IV
r
II'
HIP
I
II
2008
IV
III
I'
III?
II'
1
200,564
201,682
203,660
206,126
207,169
210,285
210,470
23,800
24,375
24,753
25,444
25,995
26,350
26,711
2
149,306
17,028
149,506
16,976
150,501
17,059
152,460
17,253
153,011
17,487
153,868
17,627
154,320
17,654
16,050
1,798
16,421
1,825
16,562
1,834
17,171
1,902
17,658
1,974
17,738
1,984
18,205
2,033
3
4
8,877
8,861
8,902
9,005
9,149
9,229
9,246
927
944
948
984
1,024
1,030
1,056
5
8,115
3,723
136,252
35,982
29,448
845
8,157
3,734
137,176
36,678
29,805
891
8,248
3,812
139,019
37,057
30,051
896
8,338
3,856
139,380
37,158
30,630
928
8,399
3,818
140,059
37,599
32,628
1,004
8,408
3,832
140,499
37,914
32,057
1,374
871
-16
14,235
6,935
2,630
31
881
-18
14,578
7,158
2,639
35
886
918
10
8,151
3,664
135,943
35,220
29,402
854
-17
14,711
7,370
2,673
38
15,248
7,504
2,692
34
950
-27
15,656
7,584
2,754
42
954
-28
15,726
7,671
2,954
51
977
-33
16,138
7,703
2,870
60
11
28,548
28,603
28,915
29,155
29,702
31,624
30,683
2,599
2,604
2,635
2,659
2,713
2,903
2,809
12
13
110,214
26,247
110,144
26,227
110,826
26,362
112,462
26,668
112,923
26,786
113,732
27,106
114,232
27,207
11,345
2,581
11,598
2,638
11,702
2,662
12,198
2,744
12,546
2,828
12,599
2,857
12,953
2,924
14
18,096
18,112
18,205
18,419
18,448
18,708
18,799
1,710
1,757
1,776
1,827
1,877
1,902
1,947
15
16
17
18
8,151
12,845
606
12,240
8,115
13,135
829
12,305
8,157
13,313
915
12,398
8,248
13,330
857
12,473
8,338
13,303
908
12,395
8,399
13,030
596
12,434
8,408
12,882
369
12,512
871
2,124
-137
2,261
881
2,184
886
2,294
2,198
-113
2,311
918
2,228
950
2,284
-128
2,412
954
2,282
-166
2,448
977
2,327
-203
2,531
19
1,517
147,790
125,946
364
274
1,754
147,752
126,413
365
273
1,180
9,137
32,119
20,551
11,568
8,214
9,392
5,474
3,394
9,825
1,837
8,829
4,296
4,221
1,742
16,997
1,262
3,543
4,311
21,339
2,453
696
18,190
1,846
148,655
127,183
376
276
1,253
9,123
32,311
20,693
11,619
8,266
9,352
5,386
3,491
10,027
1,804
9,037
4,089
4,256
1,779
17,202
1,249
3,553
4,353
21,472
2,434
719
18,319
1,789
150,671
128,475
395
279
1,850
151,161
129,427
369
284
1,295
9,016
32,965
21,262
11,703
8,522
9,369
5,541
3,537
10,342
1,878
9,247
3,877
4,386
1,853
17,773
1,547
152,321
129,949
390
284
1,340
8,792
32,889
21,063
11,826
8,572
9,434
5,375
3,596
10,592
1,770
9,336
4,275
4,340
1,897
17,794
1,235
3,608
4,428
22,372
2,477
721
19,174
1,328
152,992
130,269
385
309
1,330
8,735
32,825
20,961
11,865
8,598
9,430
5,323
3,632
10,608
1,800
9,460
4,347
4,311
1,918
17,979
1,207
3,620
4,452
22,724
2,485
747
19,491
-28
16,077
12,522
48
3,006
231
1,537
736
292
443
581
2
-1
-10
16,419
12,781
49
3,052
239
1,577
736
297
439
582
1,019
16,563
12,877
46
3,051
256
1,675
733
299
434
594
17,181
13,439
47
3,166
268
1,805
744
307
437
606
1,058
889
208
499
422
809
104
315
58
-15
17,673
13,844
51
3,304
263
1,978
756
303
453
647
1,064
897
209
518
408
843
98
303
58
1,149
145
699
454
3,829
638
395
2,796
-52
17,790
13,878
42
3,461
259
1,799
766
303
462
649
1,069
905
207
527
405
842
103
313
58
1,191
151
6
7
8
9
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
1,202
9,318
32,235
20,432
11,804
8,153
9,328
5,351
3,326
9,827
1,870
8,663
4,434
4,148
1,708
16,747
1,184
3,551
4,263
21,843
2,469
686
18,688
1,221
9,165
32,389
20,771
11,618
8,330
9,327
5,421
3,522
10,245
1,778
9,178
4,275
4,374
1,833
17,484
1,243
3,604
4,411
22,196
2,424
723
19,050
1,221
3,575
4,379
21,735
2,458
702
18,575
1,000
847
196
470
420
733
81
281
56
1,063
149
639
448
3,555
622
370
2,562
-110
1,021
866
870
196
485
419
787
96
291
58
1,083
151
617
480
3,638
622
376
2,640
488
414
773
75
300
55
1,105
155
617
446
3,686
624
381
2,681
202
-22
-122
2,350
1,120
153
706
459
3,742
624
379
2,739
688
442
3,911
654
399
2,858
-88
18,293
14,311
42
3,836
258
1,794
763
303
461
652
1,078
896
210
537
414
850
104
315
59
1,213
150
690
449
3,982
651
412
2,919
January 2009
Su r v e y
of
97
C u r r e n t B u sin ess
Earnings by Industry, 2007:1—2008:1111—Continues
seasonally adjusted at annual rates]
New England
Mideast
2008
I
2007
2007
Line
2008
I'
ll|p
II
III
IV
I'
II'
lllp
664,200
668,297
677,233
686,529
691,988
698,265
701,493
2,119,288
2,121,774
2,151,449
2,178,120
2,203,556
2,224,062
2,230,974
1
502,374
53,541
503,155
53,333
507,819
53,677
515,337
54,335
520,136
55,450
521,174
55,561
523,823
55,661
1,660,849
182,572
1,651,338
180,791
1,671,148
182,189
1,693,190
184,034
1,718,110
188,489
1,715,997
188,329
1,727,277
189,001
2
27,991
27,900
28,039
28,368
29,018
29,098
29,162
93,720
92,570
93,345
94,236
96,775
96,625
96,970
4
25,550
7,496
456,328
116,588
91,285
2,398
25,432
6,979
456,802
120,023
91,472
2,403
25,638
7,368
461,510
123,111
92,612
2,505
25,968
7,563
468,564
124,442
93,523
2,618
26,432
7,801
472,487
123,979
95,521
2,795
26,463
7,565
473,177
124,541
100,546
2,952
26,499
7,634
475,796
125,685
88,220
4,097
88,852
-19,959
1,458,318
341,541
319,428
6,674
-19,460
1,451,088
350,638
320,049
6,695
88,844
-20,189
1,468,770
358,936
323,743
6,985
89,798
-20,414
1,488,742
362,785
326,593
7,216
91,714
-21,091
1,508,531
361,835
333,189
7,834
91,705
-20,728
1,506,940
362,865
354,257
8,275
92,031
-20,962
1,517,314
365,146
348,515
12,392
10
88,887
89,069
90,107
90,905
92,727
97,594
95,915
312,754
313,354
316,758
319,377
325,355
345,982
336,123
11
367,994
78,869
368,122
79,127
371,477
79,724
377,582
80,769
381,588
81,729
382,140
82,159
383,945
82,448
1,210,460
263,605
1,198,977
263,288
1,214,215
264,646
1,231,129
267,029
1,249,791
271,712
1,245,498
272,718
1,253,206
274,195
12
53,318
53,695
54,086
54,801
55,297
55,696
55,948
174,753
175,068
175,802
177,230
179,997
181,013
182,165
14
25,550
55,511
168
55,343
25,432
55,906
182
55,724
25,638
56,618
242
56,376
25,968
56,986
208
56,778
26,432
56,819
175
56,645
26,463
56,875
132
56,742
26,499
57,430
88,220
57,319
88,852
186,784
1,601
185,184
189,073
1,792
187,280
88,844
192,287
2,125
190,163
89,798
195,033
2,068
192,965
91,714
196,608
2,106
194,502
91,705
197,781
1,807
195,974
92,031
199,875
1,706
198,169
15
16
17
18
569
501,804
437,124
1,154
786
4,154
27,617
62,452
43,915
18,537
25,386
30,148
9,413
16,102
61,471
10,030
56,576
14,475
16,403
14,054
56,912
4,606
12,682
12,703
64,680
10,561
3,365
50,754
594
502,562
437,222
1,235
800
4,190
27,588
62,025
43,776
18,249
25,869
30,158
9,976
16,183
59,190
9,728
56,795
14,534
16,525
14,303
57,880
4,659
12,757
12,827
65,339
10,551
3,402
51,386
661
507,158
441,138
629
514,708
448,017
1,240
819
4,184
26,966
64,248
44,571
19,677
26,141
30,209
9,608
16,945
60,506
9,350
60,320
14,604
17,190
14,743
59,850
4,947
13,036
13,110
66,691
10,523
3,376
52,793
600
519,536
451,800
1,254
869
4,331
26,812
63,159
44,580
18,579
26,517
30,599
9,709
17,275
62,161
9,465
61,328
14,389
17,160
15,048
60,649
4,835
13,022
13,219
67,736
10,814
3,478
53,443
561
520,612
452,302
1,163
887
4,432
26,390
62,794
44,147
18,647
26,778
30,527
9,566
17,347
60,565
9,304
63,026
14,795
17,062
15,219
61,174
4,866
13,139
13,269
68,310
10,954
3,525
53,831
544
523,280
454,309
1,147
964
4,428
26,076
62,664
44,014
18,649
26,869
30,550
9,478
17,507
60,519
9,486
63,838
14,955
17,074
15,495
61,928
4,777
13,164
13,389
68,971
11,004
3,618
54,349
2,785
1,658,064
1,391,406
2,884
5,057
15,970
81,107
142,034
75,464
66,570
81,484
88,044
42,977
72,077
225,826
36,695
194,162
47,384
54,017
33,522
165,562
17,064
38,664
46,875
266,658
71,398
12,935
182,324
3,007
1,648,331
1,376,516
2,936
5,250
16,252
81,849
142,531
76,542
65,988
82,783
88,684
44,083
73,217
202,256
36,398
196,311
44,803
54,584
33,857
167,400
17,180
38,839
47,304
271,815
71,640
12,984
187,191
3,358
1,667,790
1,399,778
2,863
5,368
16,603
82,226
140,759
76,011
64,749
82,390
88,640
42,957
74,292
216,879
35,215
200,623
47,204
55,388
34,545
169,127
17,508
39,207
47,985
268,012
71,476
13,083
183,454
3,308
1,689,882
1,420,038
2,967
5,485
16,551
82,869
142,193
77,187
65,006
83,550
89,442
43,518
75,283
219,605
35,057
206,007
48,002
56,453
35,180
171,645
17,850
39,997
48,384
269,844
71,333
12,948
185,563
3,360
1,714,750
1,439,242
3,016
5,797
16,888
82,963
143,198
77,530
65,668
84,403
89,414
43,996
77,612
226,058
35,341
209,023
47,939
56,729
35,900
173,734
17,521
39,939
49,770
275,508
73,094
13,412
189,002
3,072
1,712,925
1,433,112
3,053
6,094
17,227
81,995
143,200
77,938
65,262
84,666
89,410
43,594
77,549
215,542
35,072
210,925
47,490
56,902
36,431
176,065
18,027
40,306
49,565
279,812
74,035
13,607
192,170
2,982
1,724,295
1,441,346
3,004
6,628
17,049
81,944
142,777
77,526
65,251
84,760
89,580
43,352
78,213
215,614
35,688
213,808
47,865
57,309
37,071
178,330
17,740
40,482
50,134
282,950
74,840
13,921
194,189
1,211
806
4,242
27,412
62,202
43,952
18,250
25,958
30,238
9,513
16,529
60,648
9,402
57,834
15,174
16,832
14,384
58,165
4,790
12,807
12,989
66,020
10,537
3,419
52,065
I
100,012
111
II
III
IV
II'
3
5
6
7
8
9
13
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
98
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and
[Millions of dollars,
Great Lakes
Item
Line
2007
I
Income by place of residence
Personal income (lines 2-11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent 4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors’ income5...................................................
Farm proprietors' income.........................................
Nonfarm proprietors’ income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing...
Durable goods
Nondurable goods
Wholesale trade
Retail trade......
Transportation and warehousing..............................
Information......
Finance and insurance.............................................
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services...............................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services..........................
Other services, except public administration............
Government and government enterprises....................
Federal, civilian.........................................................
Military.....................................................................
State and local.........................................................
See the footnotes at the end of the table.
Plains
II
2007
2008
III
IV
I'
II'
IMP
I
II
2008
III
IV
I'
II'
HIP
1 1,662,578 1,669,877 1,687,081 1,703,989 1,714,583 1,741,741 1,741,641
718,886
728,701
738,141
748,598
758,572
769,750
769,073
2 1,266,376 1,266,950 1,276,562 1,289,149 1,295,665 1,299,377 1,304,432
554,609
63,102
562,281
63,673
568,453
63,961
577,667
64,927
586,271
66,300
587,841
66,405
589,666
66,583
3
4
5
6
7
8
9
10
140,300
139,706
140,268
141,276
143,243
143,619
143,779
71,703
71,513
71,817
72,345
73,550
73,794
73,908
33,055
33,425
33,583
34,109
34,919
34,997
35,106
68,597
68,452
68,932
69,693
69,825
68,193
69,871
6,014
6,162
6,333
5,826
5,995
6,311
6,393
1,131,903 1,133,239 1,142,309 1,154,035 1,158,732 1,162,091 1,167,046
283,415
286,346
269,782
275,471
280,607
283,218
287,100
260,894
266,737
293,304
261,168
264,166
272,436
287,496
6,424
6,184
6,594
7,172
7,976
11,262
6,266
30,047
-5,860
485,647
124,379
108,859
1,884
30,248
-5,959
492,649
126,954
109,098
1,905
30,378
-5,994
498,498
129,310
110,333
1,903
30,818
-6,077
506,663
130,590
111,345
1,962
31,381
-6,218
513,753
131,046
113,772
2,217
31,407
-6,181
515,255
132,540
121,955
2,371
31,477
-6,207
516,876
133,532
118,665
3,129
11
254,470
254,983
257,899
260,143
265,264
285,328
276,234
106,975
107,193
108,430
109,382
111,555
119,584
115,536
12
13
922,735
212,807
921,576
213,401
927,151
214,722
937,239
216,184
941,669
217,825
943,396
219,107
947,269
219,772
400,532
92,597
405,613
93,953
408,306
94,562
416,069
95,881
420,959
97,191
421,233
97,686
423,591
98,128
14
144,210
145,208
146,270
147,252
148,132
149,282
149,901
62,550
63,705
64,184
65,063
65,810
66,279
66,651
15
16
17
18
68,597
130,835
3,887
126,948
68,193
131,973
3,651
128,322
68,452
134,690
5,385
129,305
68,932
135,726
5,406
130,320
69,693
136,170
5,869
130,301
69,825
136,874
5,719
131,155
69,871
137,391
5,502
131,888
30,047
61,480
7,926
53,554
30,248
62,716
8,674
54,042
30,378
65,585
11,026
54,559
30,818
65,717
10,617
55,100
31,381
31,407
68,922
13,426
55,496
31,477
67,947
12,067
55,880
19
6,796
6,603
8,359
8,383
8,877
8,754
8,562
10,764
543,845
454,733
1,626
3,602
6,059
33,600
81,478
51,239
30,239
32,124
34,738
21,732
17,359
40,369
8,728
39,250
17,513
17,109
6,915
57,532
5,233
13,512
16,255
89,112
14,938
8,191
65,983
11,555
550,726
461,095
1,646
3,681
6,194
33,282
81,467
51,189
30,278
32,904
35,323
22,920
17,743
40,498
8,650
39,735
19,167
17,511
7,031
58,177
5,051
13,735
16,380
89,631
14,826
8,410
66,395
13,931
554,521
463,116
1,723
3,730
6,383
33,813
81,192
51,214
29,978
33,316
35,232
21,972
17,587
40,813
8,463
40,457
19,046
17,808
7,152
58,900
5,179
13,774
16,577
91,405
14,759
8,620
68,026
13,526
564,141
472,115
1,709
4,018
6,333
34,034
82,216
51,874
30,342
34,296
35,750
22,216
18,527
41,215
8,369
41,817
19,913
18,235
7,327
60,181
5,148
13,987
16,825
92,026
14,692
8,647
68,687
16,033
570,238
476,693
1,649
4,042
6,663
33,717
82,932
51,863
31,069
35,262
35,851
22,360
17,915
41,293
8,596
42,081
22,068
18,290
7,457
60,550
5,109
13,989
16,868
93,545
15,048
8,928
69,569
16,391
571,449
476,823
15,057
574,609
478,864
1,647
4,556
6,639
32,993
82,857
51,524
31,333
35,176
36,126
21,864
17,994
41,582
8,672
43,234
20,862
18,349
7,726
62,319
5,007
14,108
17,153
95,745
15,416
9,262
71,067
20 1,259,580 1,260,347 1,268,204 1,280,766 1,286,788 1,290,623 1,295,870
21 1,081,029 1,081,595 1,087,267 1,098,692 1,102,425 1,103,946 1,107,123
22
1,616
1,672
1,609
1,639
1,630
1,690
1,619
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
7,010
11,691
70,845
237,615
165,638
71,977
71,360
75,093
46,434
27,966
86,603
25,175
111,904
37,931
47,441
15,319
128,127
11,544
30,529
36,825
178,551
26,631
7,460
144,460
7,246
11,790
71,491
235,080
163,974
71,106
72,182
75,462
46,768
28,290
84,556
24,429
113,745
37,027
47,870
15,455
129,303
11,655
30,509
37,107
178,752
26,681
7,516
144,555
7,232
12,206
71,377
233,659
163,138
70,521
73,066
75,080
46,202
28,725
85,727
23,898
115,660
36,975
48,896
15,843
131,169
11,667
30,869
37,344
180,937
26,713
7,530
146,695
7,407
12,085
70,656
232,923
162,279
70,644
74,717
76,835
46,847
29,222
87,973
23,222
118,282
37,413
49,602
16,131
132,717
11,693
31,258
38,022
182,074
26,798
7,479
147,797
7,757
12,651
69,735
233,662
161,163
72,499
74,506
75,704
47,123
29,249
88,910
23,459
119,701
36,871
49,860
16,409
134,605
11,676
30,958
37,979
184,363
27,588
7,745
149,029
8,080
12,571
68,272
233,212
161,303
71,909
75,327
75,985
46,771
29,492
87,737
23,334
120,480
37,389
49,552
16,678
136,030
11,932
31,177
38,286
186,677
27,844
7,929
150,904
8,747
12,545
67,790
232,851
160,693
72,158
75,510
75,910
46,273
29,671
87,573
23,452
121,929
37,837
49,383
16,895
137,605
11,714
31,232
38,587
188,747
28,031
8,112
152,604
68,121
13,093
55,028
1,668
4,181
6,659
33,141
83,033
51,746
31,287
35,130
36,020
22,054
17,857
41,564
8,526
42,726
20,617
18,373
7,577
61,542
5,079
14,056
17,022
94,626
15,278
9,051
70,296
January 2009
Su r v e y
of
99
C u r r e n t B u sin ess
Earnings by Industry, 2007:1-2008:1111—Continues
seasonally adjusted at annual rates]
Southwest
Southeast
2007
I
2,597,089
III
II
2,627,405
2007
2008
2,659,895
IV
2,683,231
I'
2,699,866
II'
2,756,824
III”
2,745,239
I
1,251,682
II
III
1,269,327
Line
2008
1,289,223
IV
1,308,620
I'
1,327,754
IIr
II| p
1,357,883
1,358,839
1
2
1,889,485
211,413
1,897,103
211,361
1,915,455
213,031
1,931,031
214,280
1,942,326
217,542
1,949,587
218,468
1,959,846
219,091
995,744
100,380
1,009,149
101,299
1,023,365
102,677
1,039,889
104,061
1,056,207
106,674
1,063,300
107,225
1,075,428
108,274
112,953
113,080
113,959
114,670
116,648
117,207
117,564
52,623
53,188
53,908
54,648
56,151
56,477
57,050
4
98,460
11,263
1,689,335
478,533
429,220
4,888
98,281
11,262
1,697,003
500,180
430,222
4,946
99,072
11,618
1,714,042
509,876
435,977
5,341
99,610
11,525
1,728,276
514,527
440,428
5,669
100,894
12,005
1,736,789
512,556
450,521
6,348
101,261
11,833
1,742,952
516,589
497,283
7,276
101,527
11,984
1,752,738
519,536
472,965
10,747
47,757
263
895,627
180,405
175,650
1,756
48,111
233
908,083
185,190
176,053
1,708
48,768
216
920,904
189,570
178,748
1,840
49,413
287
936,115
191,741
180,763
1,883
50,523
177
949,709
192,486
185,558
2,176
50,748
177
956,252
194,486
207,145
2,378
51,224
139
967,294
189,847
201,698
3,432
5
10
424,332
425,276
430,636
434,760
444,174
490,007
462,218
173,894
174,345
176,908
178,881
183,383
204,768
198,267
11
1,379,097
323,817
1,382,652
325,793
1,396,089
328,847
1,409,221
330,777
1,417,039
334,339
1,421,642
336,975
1,429,569
338,805
674,246
150,831
682,403
152,748
692,765
154,912
704,624
156,885
715,596
159,526
718,585
160,796
727,777
162,594
12
225,357
227,512
229,775
231,166
233,445
235,714
237,278
103,074
104,637
106,144
107,473
109,003
110,047
111,370
14
98,460
186,571
4,780
181,790
98,281
188,658
5,484
183,175
99,072
190,518
6,374
184,144
99,610
191,033
5,862
185,171
100,894
190,948
6,338
184,610
101,261
190,970
5,262
185,707
101,527
191,472
4,415
187,056
47,757
170,667
1,604
169,063
48,111
173,998
2,307
171,691
48,768
175,687
2,638
173,050
49,413
178,379
2,418
175,961
50,523
181,085
1,636
179,448
50,748
183,919
586
183,333
51,224
185,057
-198
185,255
15
16
17
18
8,951
1,880,534
1,523,813
6,854
17,541
16,140
128,713
217,801
127,478
90,323
101,443
131,198
69,675
56,907
112,103
41,825
164,047
41,289
83,405
20,293
178,101
19,813
58,460
58,205
356,720
71,130
56,422
229,168
9,735
1,887,368
1,529,097
6,928
17,929
16,350
127,610
216,724
127,104
89,619
102,675
131,825
73,078
56,811
109,479
41,232
166,391
40,517
83,192
20,590
180,269
10,674
1,904,781
1,538,641
7,009
18,181
16,989
127,195
216,244
127,784
88,459
103,677
132,350
70,860
57,463
111,218
40,186
169,451
41,073
83,558
21,171
183,012
20,218
59,670
59,115
366,140
71,500
57,808
236,832
10,176
1,920,855
1,551,063
7,035
18,556
16,906
125,469
216,990
127,394
89,597
105,060
132,295
71,229
60,986
110,456
39,733
173,583
40,441
83,601
21,766
185,824
20,574
60,698
59,858
369,793
71,686
57,743
240,364
10,698
1,931,628
1,554,286
7,019
19,477
17,483
122,108
218,135
127,401
90,734
104,507
132,163
71,748
58,966
111,730
39,776
175,425
40,685
83,480
21,266
189,205
20,583
60,517
60,014
377,343
73,728
60,089
243,526
9,660
1,939,926
1,557,608
7,057
20,510
17,573
119,915
216,308
126,617
89,691
105,311
132,124
71,148
59,653
110,687
39,626
178,264
41,402
82,911
21,643
191,594
20,788
60,668
60,425
382,319
74,597
61,128
246,593
8,850
1,950,996
1,563,680
6,953
22,446
17,540
118,565
215,654
125,973
89,681
105,412
132,225
70,508
60,077
110,448
40,348
180,462
41,854
82,723
22,057
194,151
20,417
60,881
60,959
387,316
75,317
62,531
249,467
3,716
992,027
835,256
2,289
62,806
17,734
66,439
123,529
71,092
52,437
55,820
62,995
41,005
27,722
59,623
25,520
85,329
11,563
42,218
7,978
83,041
7,203
26,575
25,866
156,772
29,386
19,615
107,771
4,459
1,004,690
846,484
2,369
66,427
18,063
66,683
123,458
72,045
51,413
56,945
63,771
42,186
27,827
58,527
25,432
86,780
11,563
43,047
4,813
1,018,552
856,776
2,398
4,600
1,035,289
872,186
2,441
71,129
19,131
68,243
126,323
72,598
53,725
59,971
64,355
41,666
28,907
60,215
24,163
90,549
11,882
44,965
8,545
87,264
7,306
27,823
27,307
163,102
29,613
19,951
113,538
3,842
1,052,365
885,945
2,441
75,394
19,150
68,904
126,328
73,709
52,619
59,543
64,581
42,137
29,617
61,776
25,280
92,952
12,288
45,265
8,737
89,015
7,386
27,725
27,426
166,420
30,319
20,599
115,502
2,810
1,060,490
892,230
2,383
78,454
18,524
68,893
127,690
73,657
54,033
60,004
64,701
41,634
29,506
61,300
24,998
94,721
12,320
44,692
8,983
90,160
7,491
28,047
27,730
168,260
30,863
20,718
116,679
2,045
1,073,384
902,668
2,348
85,624
18,477
69,127
127,936
74,126
53,809
60,160
64,758
41,422
29,597
61,721
24,153
96,135
12,573
44,847
9,153
91,137
7,404
28,037
28,058
170,715
31,165
21,241
118,310
20,101
58,948
58,448
358,271
71,433
57,166
229,672
8,200
84,800
7,204
26,903
26,299
158,206
29,496
19,777
108,934
68,120
18,071
67,274
124,320
72,794
51,525
58,070
63,918
41,262
28,480
60,070
24,939
88,611
12,219
43,608
8,292
85,926
7,241
27,230
26,726
161,775
29,591
20,022
112,162
3
6
7
8
9
13
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
100
Regional Quarterly Report
January 2009
Table 3. Personal Income by Major Source and Earnings by Industry, 2007:l-2008:lll1—Table Ends
[Millions of dollars, seasonally adjusted at annual rates]
Rocky Mountain
Item
Line
2007
I
Income by place of residence
Personal income (lines 2 -11)..........................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-46)...........
Less: Contributions for government social insurance 2 ....
Employee and self-employed contributions for
government social insurance................................
Employer contributions for government social
insurance.............................................................
Plus: Adjustment for residence3.......................................
Equals: Net earnings by place of residence.....................
Plus: Dividends, interest, and rent4..................................
Plus: Personal current transfer receipts............................
State unemployment insurance benefits..................
Personal current transfer receipts excluding state
unemployment insurance benefits........................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..................................
Supplements to wages and salaries.............................
Employer contributions for employee pension and
insurance funds...................................................
Employer contributions for government social
insurance.............................................................
Proprietors' income5...................................................
Farm proprietors’ income.........................................
Nonfarm proprietors' income....................................
Earnings by industry
Farm earnings.................................................................
Nonfarm earnings............................................................
Private earnings..........................................................
Forestry, fishing, related activities, and other 6.........
Mining......................................................................
Utilities.....................................................................
Construction............................................................
Manufacturing..........................................................
Durable goods.....................................................
Nondurable goods...............................................
Wholesale trade............
Retail trade....................
Transportation and warehousing..............................
Information....................
Finance and insurance...
Real estate and rental and leasing...........................
Professional and technical services.........................
Management of companies and enterprises............
Administrative and waste services...........................
Educational services.................
Health care and social assistance
Arts, entertainment, and recreation
Accommodation and food services
Other services, except public administration............
Government and government enterprises....................
Federal, civilian..........................
Military.......................................
State and local...........................
II
2008
III
IV
I'
II'
2007
lll»
I
II
2008
III
IV
I'
II'
II|p
1
373,970
379,795
385,398
392,394
395,002
400,623
401,576 2,054,204 2,079,988 2,111,383 2,137,940 2,142,389 2,176,130 2,182,409
2
3
292,457
31,676
296,575
31,916
300,036
32,140
306,263
32,756
307,974
33,225
309,072
33,376
311,051 1,580,061 1,593,680 1,612,194 1,632,213 1,630,609 1,639,896 1,648,939
33,502
175,941
176,458
177,789
179,435
181,111
182,250
182,661
4
15,819
15,970
16,097
16,414
16,697
16,788
5
10
15,857
1,197
261,979
68,676
43,316
608
15,946
1,204
265,863
70,541
43,392
585
16,044
1,237
269,133
72,244
44,022
649
16,342
1,249
274,756
73,141
44,496
689
16,528
1,261
276,010
73,334
45,658
858
16,588
1,258
276,954
74,189
49,480
929
11
42,707
42,807
43,372
43,807
44,800
48,551
12
13
204,983
47,288
207,798
47,991
210,325
48,484
215,483
49,376
216,652
49,879
217,491
50,281
14
31,431
32,045
32,440
33,034
33,352
33,693
33,935
174,886
177,680
179,502
181,544
181,825
184,202
185,414
15
16
17
18
15,857
40,186
413
39,773
15,946
40,786
16,044
41,227
940
40,287
16,342
41,405
749
40,655
16,528
41,443
543
40,900
16,588
41,301
16,639
41,484
-252
41,736
87,032
191,150
4,176
186,974
87,424
191,666
3,909
187,757
88,304
193,711
5,478
188,233
89,216
193,832
4,789
189,043
89,828
191,395
3,426
187,969
90,321
191,494
2,786
188,708
90,483
192,987
2,743
190,244
19
1,891
290,566
240,727
975
9,489
2,476
24,261
26,022
17,541
8,482
14,213
19,605
9,635
14,757
17,617
7,978
29,719
6,138
10,693
2,793
23,192
3,349
8,857
8,957
49,839
11,272
5,609
32,958
2,190
294,385
243,910
999
9,851
2,464
24,457
25,712
17,434
8,278
14,548
19,833
10,461
15,191
17,629
7,934
30,199
5,905
10,999
2,846
23,312
3,423
9,024
9,123
50,476
11,292
5,709
33,474
2,453
297,583
246,202
2,264
303,999
251,791
2,074
305,900
252,778
967
11,208
2,775
23,679
26,494
17,696
8,799
15,304
20,249
9,994
16,246
18,634
7,568
31,962
6,114
11,285
2,976
24,915
3,444
9,467
9,496
53,122
11,463
6,067
35,592
1,646
307,427
253,638
955
11,643
2,645
22,988
26,722
17,616
9,107
15,274
20,218
9,800
16,310
18,317
7,602
32,983
6,031
11,295
3,017
25,286
3,475
9,516
9,563
53,788
11,684
6
7
8
9
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
688
40,097
1,011
1,002
9,922
2,580
24,399
26,000
17,690
8,310
14,756
19,983
9,850
15,561
17,961
7,705
30,794
5,916
11,138
2,917
23,928
3,475
9,148
9,158
51,381
11,249
5,823
34,309
10,525
2,549
24,832
26,369
17,864
8,505
14,984
20,331
9,940
15,893
18,205
7,758
32,265
6,148
11,277
2,934
24,528
3,505
9,408
9,337
52,208
11,229
5,818
35,161
p Preliminary
r Revised
1. The estimates of earnings for 2007 forward are based on the 2007 North American Industry Classification System
(NAICS).
2. Contributions for government social insurance are included in earnings by type and industry, but they are excluded
from personal income.
3. The adjustment for residence is the net inflow of the earnings of interarea commuters. For the United States, it
consists of adjustments for border workers: Wage and salary disbursements to U.S. residents commuting to Canada less
Far West
101
41,200
6,120
35,984
16,862
88,909
89,034
89,485
90,219
91,283
91,929
92,178
16,639
87,032
87,424
88,304
90,321
89,216
89,828
90,483
1,271
-1,636
-1,672
-1,707
-1,752
-1,724
-1,736
-1,744
278,820 1,402,484 1,415,550 1,432,698 1,451,025 1,447,775 1,455,910 1,464,533
74,871
385,244
397,268
408,190
413,472
418,430
413,689
423,220
47,886
266,476
267,170
270,495
273,443
301,790
280,926
294,656
1,296
6,316
6,470
6,733
7,325
8,430
8,881
12,461
46,590
260,161
260,700
263,762
266,118
272,496
292,909
282,195
218,992 1,126,993 1,136,910 1,150,677 1,167,621 1,167,561 1,173,880 1,180,054
50,574
265,104
261,919
267,806
270,759
271,653
274,523
275,898
11,729
1,306
11,599
13,248
12,578
11,299
10,729
10,752
309,745 1,568,332 1,582,081 1,598,946 1,619,634 1,619,310 1,629,167 1,638,187
255,162 1,299,248 1,309,319 1,321,980 1,338,633 1,335,846 1,341,369 1,346,309
10,767
941
10,440
10,842
10,797
10,799
10,678
10,631
12,773
7,914
8,387
8,099
8,749
9,111
9,929
8,813
2,640
14,021
14,617
14,287
15,094
15,254
15,416
15,413
22,608
113,771
112,895
111,081
109,411
105,962
103,945
102,429
26,476
175,785
177,499
177,899
179,069
180,125
177,481
178,696
123,079
17,533
125,842
126,692
126,491
128,215
126,012
125,495
52,707
8,943
51,656
51,208
51,910
52,579
52,684
51,985
15,311
78,849
79,916
81,140
82,310
82,370
82,574
81,833
20,254
102,674
103,354
103,876
103,777
103,647
104,468
103,179
9,699
46,761
48,326
47,058
47,838
48,214
48,086
47,588
16,503
74,707
76,959
79,923
80,888
83,447
84,484
81,258
18,343
102,626
101,418
97,371
101,053
100,939
97,226
101,209
7,758
43,399
42,730
41,303
40,684
41,432
40,768
41,551
33,133
167,683
169,833
175,808
179,673
181,934
185,508
187,848
6,120
31,946
31,497
32,211
34,685
32,423
32,711
32,931
11,249
60,009
61,271
60,210
61,522
61,983
61,750
61,423
3,063
16,530
16,797
17,147
18,265
17,520
17,905
18,696
25,720
129,443
131,101
133,481
136,257
138,332
140,814
142,678
3,411
22,112
22,111
22,496
22,971
23,108
22,671
22,899
9,529
56,851
56,990
57,938
58,707
58,951
59,195
59,340
9,634
43,726
44,202
44,780
45,533
46,375
46,774
45,831
54,583
269,084
272,762
276,966
283,464
287,798
281,001
291,878
11,739
39,302
39,333
39,297
39,074
40,327
40,855
41,097
6,262
30,298
30,743
31,312
32,654
33,220
34,199
31,491
36,582
199,453
202,717
206,358
210,436
210,483
213,723
216,583
wage and salary disbursements to Canadian and Mexican residents commuting into the United States.
4. Rental income of persons includes the capital consumption adjustment.
5. Proprietors’ income includes the inventory valuation adjustment and the capital consumption adjustment.
6. “Other” consists of the wage and salary disbursements of U.S. residents employed by international organizations and
foreign embassies and consulates in the United States.
N o t e . The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
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.
January 2009
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 rv e y o f C u r r e n t B u siness 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 information, including methodologies
and working papers, are available.
The tables present annual [A], quarterly [Q], and monthly [M] data.
National Data
A. Selected NIPA tables [A,Q]
1. Domestic product and income..............................D-2
2. Personal income and outlays..................................D -18
3. Government current receipts and expenditures ...D-21
4. Foreign transactions...............................................D-33
5. Saving and investment............................................D-37
6. Income and employment by industry.................. D-42
7. Supplemental tables................................................ D-43
G. Investment tables [A]
G.l U.S. international investment position.............. D-64
G.2 USDIA: Selected items......................................... D-65
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies............................D-66
G.4 FDIUS: Selected items......................................... D-67
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies.......................D-68
H. Charts
B. NIPA-related table
The United States in the international economy..... D-69
B.l Personal income and its disposition [A, M ]...... D-46
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............. D-47
D. Charts
Selected NIPA series................................................... D-51
Industry Data
Regional Data
I. State and regional tables
1.1 Personal income [Q]............................................. D-70
1.2 Personal income and per capita
personal income [A]..........................................D-71
1.3 Disposable personal income and per capita
disposable personal income [A ].......................D-72
1.4 Gross domestic product by state [A]................... D-73
E. Industry table
E.l Value added by industry [A]................................D-57
International Data
F. Transactions tables
F.l U.S. international transactions in goods
and services [A, M]............................................ D-58
F.2 U.S. international transactions [A, Q ]................ D-59
F.3 U.S. international transactions by area [Q]........ D-60
F.4 Private services transactions [A]..........................D-63
J. Local area tables
1.1 Personal income and per capita personal income
by metropolitan area [A]...................................D—74
1.2 Gross domestic product by metropolitan area
for industries [A]............................................... D-79
K. Charts
Selected regional estimates......................................... D-83
Appendixes
A. Additional information about the NIPA esti
mates
Statistical conventions................................................ D-85
Reconciliation table [A, Q ]........................................D-86
B. Suggested reading............................................... D-87
D-2
January 2009
National Data
A. Selected NIPA Tables
The selected set of NIPA tables presents the most recent estimates of gross domestic product (GDP) and its
components which were released on December 23, 2008. These estimates include the “final” estimates for the third
quarter of 2008.
The selected set presents quarterly estimates that are updated monthly. Annual estimates are presented in most
of the tables.
The GDP news release is available on BEA’s Web site within minutes after the release. To receive an e-mail noti
fication of the release, go to www.bea.gov and subscribe. The “Selected NIPA Tables” are available later that 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
2006
2007
2007
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services.................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
1
IV
III
Seasonally adjusted at annual rates
2008
Line
1
2.8
2.0
4.8
- 0.2
0.9
2.8
-0.5
2.8
2.0
1.0
3
4
5
3.0
4.5
3.7
2.5
4.8
2.5
2.3
1.2
- 2.8
2.6
2.4
0.4
0.3
1.4
0.9
-4.3
-0.4
2.4
3.9
0.7
-3.8
-14.8
-7.1
- 0.1
6
2.1
-5.4
-3.1
4.9
12.7
1.7
-17.9
3.5
-0.9
8.7
20.5
3.6
-11.9
- 6.2
3.4
8.5
-5.8
-5.6
2.4
1.0
8.6
- 0.6
- 20.6
-27.0
-25.1
-11.5
-1.7
2.5
18.5
-5.0
-13.3
0.4
-5.3
-1.7
9.7
-7.5
-16.0
7
8
1.9
7.5
9
8.2
10
11
1?
7.2
-7.1
Net exports of goods and
Exports....................................
Goods..................................
Services..............................
Imports...................................
Goods..................................
Services..............................
Government consumption
expenditures and gross
investment..............................
Federal...................................
National defense..................
Nondefense.........................
State and local.........................
13
14
15
16
17
18
19
9.1
9.9
7.2
8.4
7.5
10.5
6.0
6.0
6.0
2.2
1.7
4.4
23.0
21.8
25.9
3.0
2.4
6.3
4.4
5.1
2.7
-2.3
- 2.6
-0.9
20
21
22
1.7
2.3
2.1
1.6
3.8
7.2
1.6
2.5
23
24
3.6
1.3
- 0.2
2.3
10.2
1.2
-0.5
-0.9
0.4
0.8
1.9
1.6
5.1
4.5
6.4
- 0.8
- 2.0
5.5
1.9
5.8
7.3
2.9
-0.3
2007
III
II
2
1.2
2006
12.3
16.3
3.8
-7.3
-7.1
- 8.0
3.9
6.6
7.3
5.0
2.5
3.0
3.7
1.4
-3.5
-4.7
3.3
5.8
13.8
18.0
5.1
1.3
2007
III
2008
IV
I
II
III
Percent change at annual rate:
Gross domestic product....
1
2.8
2.0
4.8
- 0.2
0.9
2.8
-0.5
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services...................................
2
2.13
0.36
0.74
1.44
0.19
0.25
1.00
0.67
0.03
0.05
0.59
0.61
-0.33
-0.08
1.02
1.95
0.38
0.50
1.07
1.02
0.87
- 0.21
0.80
0.28
-2.75
-1.16
-1.57
-0.03
10
11
12
0.35
0.32
0.77
0.23
0.54
-0.45
0.03
-0.90
-0.50
0.52
0.40
0.13
- 1.02
-0.40
0.54
-0.15
0.91
0.65
0.26
-1.06
0.69
-1.93
-0.97
0.36
0.29
0.07
-1.33
-0.96
-0.89
- 0.86
0.26
0.30
-0.04
- 1.12
- 0.02
-1.74
-0.25
0.27
0.64
-0.37
-0.52
-1.50
0.06
-0.79
-0.19
0.36
-0.55
-0.60
0.84
13
14
15
16
17
18
19
- 0.02
0.96
0.73
0.23
-0.98
-0.82
-0.16
0.58
0.95
0.59
0.36
-0.37
-0.25
- 0.12
2.03
2.54
0.94
0.53
0.43
0.77
0.63
0.39
0.24
0.14
0.29
-0.15
2.93
1.54
1.39
0.15
1.39
1.14
0.25
1.05
0.40
0.34
0.06
0.65
0.74
-0.09
20
21
22
0.32
0.16
0.08
0.08
0.16
0.40
0.38
0.41
0.34
0.06
-0.03
0.78
0.47
0.36
1.14
0.97
0.85
0.11
0.12
0.31
0.17
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.........................
3
4
5
6
7
8
9
23
24
0.11
0.12
0.00
0.28
1.66
0.88
0.10
-0.51
-0.34
-0.17
0.40
0.38
0.75
0.51
0.48
0.03
0.24
0.16
-0.04
-0.04
0.02
0.01
0.19
January 2009
Sur v ey
of
D-3
C u r r e n t B u sin ess
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services..................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
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.........................
Seasonally adjusted
2008
IV
I
Line
II
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
2 119.135 122.456 122.838 123.130 123.395 123.770 122.572
3 137.274 143.908 144.720 144.856 143.284 142.273 136.695
4 119.930 122.872 123.182 123.261 123.147 124.317 122.035
5 115.298 118.259 118.605 119.020 119.739 119.937 119.916
6 110.200 104.278 105.950 102.639 101.110
7 111.109
8 106.987
9 86.318
10 115.467
11 123.728
1?
107.717
112.244
97.264
117.412
101.534
108.218
113.863
100.005
118.348
99.644
106.503
114.819
102.076
118.636
92.110
104.969
115.504
104.206
118.470
85.698
98.071
104.522
116.212
108.716
116.961
82.692
98.169
103.102
115.714
111.257
114.709
79.154
130.068
127.335
136.868
133.654
134.921
127.581
133.747
130.571
141.620
134.033
135.197
128.460
135.189
132.219
142.570
133.254
134.315
128.185
136.880
133.690
144.792
132.991
133.654
129.913
140.908
138.826
146.131
130.509
131.212
127.217
141.943
140.079
146.640
129.367
129.653
128.249
1U
14
15
16
17
18
19
119.937
118.407
123.826
130.815
132.613
122.153
2006
2007
III
20 114.497 116.871 117.642 117.879 118.443 119.594 121.288
21 128.019 130.078 131.772 131.610 133.488 135.628 140.080
22 132.315 135.596 138.002 137.694 140.125 142.621 148.643
23 120.318 120.127 120.506 120.614 121.469 122.949 124.473
24 107.642 110.167 110.484 110.914 110.844 111.517 111.891
2007
III
2008
IV
I
II
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services..................................
2 114.675 117.659 117.969 119.221 120.283 121.544 123.041
3 88.772 87.154 86.938 86.598 86.581 86.237 86.110
4 114.984 118.407 118.682 121.092 123.059 125.021 128.129
5 120.752 124.712 125.179 126.253 127.133 128.450 129.538
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
10 94.594 94.870 94.712 94.798 94.700 95.101 95.710
11 136.897 138.884 138.820 138.803 137.900 136.687 135.535
1?
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services..............................
Imports....................................
Goods..................................
Services...............................
14
15
16
17
18
19
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
6 116.102 117.735 117.566 117.960 117.815 117.926 118.510
7 116.380 117.995 117.836 118.189 118.117 118.353 119.037
8 107.277 108.739 108.558 109.015 109.177 109.788 110.913
9 151.822 157.662 157.402 159.138 160.182 161.496 164.285
1'1
112.618
111.131
116.156
115.932
114.171
125.257
116.586 117.018 118.794
115.062 115.382 117.085
120.211 120.905 122.855
120.168 121.200 124.907
118.326 119.274 123.378
129.928 131.423 132.874
121.397
119.916
124.932
128.722
127.427
135.377
124.560
123.456
127.211
137.136
136.387
140.740
23 122.803 126.636 126.721 126.886 128.986 129.868 130.465
24 128.109 134.671 135.400 137.649 139.866 142.632 144.540
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services.................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services..............................
Imports...................................
Goods.................................
Services.............................
Government consumption
expenditures and gross
investment..............................
Federal...................................
National defense..................
Nondefense.........................
State and local.........................
Line
2008
IV
1
II
Gross domestic product....
1,071.0
2,950.7
5,980.6
1,059.3
3,026.2
6,052.5
1,016.2
3,044.6
6,102.7
6 2,220.4 2,130.4 2,164.0 2,092.3 2,056.1
1,082.8
2,833.0
5,794.4
1,086.2
2,846.6
5,832.8
1,083.0
2,906.2
5,903.5
10
11
12
2,171.1
1,414.1
410.4
1,003.7
757.0
49.3
2,134.0
1,503.8
480.3
1,023.5
630.2
-3.6
2,141.0
1,522.9
492.9
1,030.0
618.1
23.0
2,113.4
1,542.1
508.7
1,033.4
571.3
- 21.1
2,081.7
1,553.6
522.7
1,030.9
528.1
-25.6
2,000.9
2,077.0
1,571.9
549.8
1,022.1
505.0
-76.0
2,010.9
2,060.6
1,581.2
572.4
1,008.8
479.4
-49.7
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Residential...........................
Change in private inventories...
13
14
15
16
17
18
19
-757.3
1,480.8
1,032.1
448.7
2,238.1
1,882.7
355.4
-707.8
1,662.4
1,149.2
513.2
2,370.2
1,985.2
385.1
-682.6
1,714.9
1,181.2
533.8
2,397.5
2,005.4
392.1
-696.7
1,759.7
1,213.7
546.0
2,456.5
2,060.9
395.6
-705.7
1,820.8
1,256.9
563.9
2,526.5
2,118.0
408.5
-718.2
1,923.2
1,343.7
579.5
2,641.4
2,225.5
415.9
-707.7
1,968.9
1,374.3
594.6
2,676.6
2,251.0
425.6
Net exports of goods and
services.................................
Exports....................................
Goods..................................
Services...............................
Imports.....................................
Goods.................................
Services...............................
7
8
9
20 2,508.1 2,674.8 2,703.5 2,742.9 2,798.1 2,873.7 2,946.1
21
932.2
994.0
979.3
998.3 1,026.5 1,056.1 1,098.0
22
624.1
662.2
675.6
679.3
723.3
699.9
759.5
23
24
308.0
1,575.9
317.1
1,695.5
318.3
1,709.5
319.0
1,744.6
326.6
1,771.6
332.9
1,817.6
2007
338.5
1,848.1
2007
III
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services..................................
2 9,207.2 9,710.2 9,765.6 9,892.7 10,002.3 10,138.0 10,163.5
1,052.1
2,685.2
5,469.9
2006
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
3
4
5
126.592
125.137
130.082
140.189
139.607
142.873
20 127.239 132.941 133.497 135.174 137.237 139.588 141.107
21 125.806 130.076 130.342 131.070 132.879 134.553 135.447
22 127.381 131.874 132.232 133.237 134.905 136.967 138.004
Table 1.1.5. Gross Domestic Product
Line
III
Gross domestic product....
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
Residual......................................
2008
IV
I
II
III
1 11,294.8 11,523.9 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4
2 8,029.0 8,252.8 8,278.5 8,298.2 8,316.1
3
4
5
1,185.1
2,335.3
4,529.9
1,242.4
2,392.6
4,646.2
1,249.4
2,398.6
4,659.8
1,250.6
2,400.2
4,676.1
1,237.0
2,397.9
4,704.3
8,341.3
1,228.3
2,420.7
4,712.1
8,260.6
1,180.1
2,376.3
4,711.3
6 1,912.5 1,809.7 1,838.7 1,781.3 1,754.7 1,702.0 1,703.7
7
1,865.5
10
11
12
270.3
1,061.0
552.9
42.3
304.6
1,078.9
453.8
-2.5
313.2
1,087.5
445.3
16.0
319.7
1,090.1
411.6
- 8.1
326.4
1,088.6
383.0
- 10.2
1,754.9
1,431.8
340.5
1,074.7
369.6
-50.6
1,731.1
1,425.7
348.4
1,054.0
353.7
-29.6
13
14
15
16
17
18
19
-615.7
1,314.8
928.7
386.3
1,930.5
1,649.0
283.7
-546.5
1,425.9
998.7
426.9
1,972.4
1,677.7
296.4
-511.8
1,466.2
1,024.1
441.8
1,978.0
1,681.1
298.4
-484.5
1,482.1
1,037.0
444.7
1,966.5
1,670.2
297.8
-462.0
1,500.6
1,048.6
451.7
1,962.6
1,662.0
301.8
-381.3
1,544.7
1,088.9
455.8
1,926.0
1,631.6
295.5
-353.1
1,556.1
1,098.7
457.4
1,909.1
1,612.2
297.9
1,808.5
1,817.0
1,788.2
1,762.4
8 1,318.2 1,382.9 1,402.9 1,414.7 1,423.1
9
20 1,971.2 2,012.1 2,025.3 2,029.4 2,039.1 2,058.9 2,088.1
21
741.0
761.7
785.0
752.9
762.7
772.6
810.8
22
490.0
502.1
509.9
528.1
550.4
511.0
518.9
23
24
25
250.8
1,230.2
-35.3
250.4
1,259.0
-55.1
251.2
1,262.6
-55.3
251.5
1,267.5
-62.1
253.2
1,266.7
-56.3
256.3
1,274.4
-44.3
259.5
1,278.7
-16.4
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdoilar 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-4
National Data
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
January 2009
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Seasonally adjusted at annual rates
Line
2008
IV
I
II
1
3.2
2.7
1.5
2.8
2.6
1.1
3.9
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services.................................
2
3
4
5
2.8
-1.3
3.0
3.5
2.6
- 1.8
3.0
3.3
2.5
-1.9
2.9
3.1
4.3
- 1.6
8.4
3.5
3.6
- 0.1
6.7
4.3
- 1.6
6.5
4.2
5.0
- 0.6
10.3
3.4
4.2
4.2
3.3
12.3
1.4
1.4
1.4
3.8
0.3
1.5
-0.3
-0.4
- 0.6
0.5
- 1.2
0.3
1.3
-0.5
- 0.2
0.4
0.6
2.3
3.3
1.7
-3.5
2.0
2.3
4.2
7.1
10
11
1?
Net exports of goods and
services.................................
Exports....................................
Goods..................................
Services..............................
Imports....................................
Goods..................................
Services..............................
14
14
15
16
17
18
19
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
Addendum:
Gross national product............
6
7
8
9
20
21
22
23
24
25
0.1
5.9
3.5
3.3
3.8
4.3
4.2
4.8
4.7
4.1
4.5
3.4
5.1
3.2
3.5
3.5
3.5
3.7
3.6
3.7
4.5
3.4
3.5
3.1
5.1
1.2
1.7
4.5
0.4
0.0
6.2
6.0
6.6
12.8
3.5
2.8
5.2
7.4
7.7
14.5
4.5
6.1
3.4
0.9
-0.5
4.9
9.1
10.8
10.0
12.3
7.5
28.8
31.2
16.8
6.9
12.8
13.8
7.8
6.8
6.2
5.6
5.1
7.0
5.1
6.3
6.8
6.6
2.8
8.1
2.6
2.8
1.5
0.8
2.7
-0.4
- 2.6
5.1
2.3
3.1
0.5
1.6
2.7
2.8
2007
2.6
-3.3
6.7
5.6
9.3
9.2
9.8
6.2
4.4
2.7
3.1
1.9
5.5
1.1
2007
III
Gross domestic product....
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
2006
III
3.9
2008
IV
I
II
III
Percent change at annual rate:
Gross domestic product....
1
3.2
2.7
1.5
2.8
2.6
1.1
3.9
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services...................................
2
1.94
- 0.11
0.62
1.44
1.83
-0.15
0.61
1.36
1.73
-0.15
0.59
1.29
2.99
- 0.12
2.53
- 0.01
1.35
1.18
2.96
- 0.12
1.33
1.75
3.52
-0.04
0.71
0.70
0.35
0.34
0.23
-0.05
-0.05
-0.06
-0.07
-0.04
0.07
0.05
0.10
0.12
0.12
0.28
0.34
0.45
0.27
0.18
-0.13
-0.06
- 0.12
-0.05
-3.26
1.36
1.06
0.29
-4.61
-4.16
-0.45
-0.75
0.84
0.27
-2.13
-1.92
- 0.21
1.20
0.40
0.25
0.15
0.80
1.36
0.37
0.30
0.06
0.99
0.89
3
4
5
1.66
1.44
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Residential...........................
Change in private inventories...
10
11
12
0.00
0.02
-0.08
0.21
0.19
0.19
0.16
0.03
0.35
0.08
0.01
0.01
0.01
0.01
0.00
0.02
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services...............................
Imports....................................
Goods.................................
Services..............................
13
14
15
16
17
18
19
-0.33
0.38
0.25
0.13
-0.71
-0.59
-0.13
-0.21
0.41
0.28
-0.81
0.42
0.23
0.19
-1.23
-1.06
-0.17
-1.34
0.75
0.51
0.25
-2.09
-1.97
- 0.12
20
21
22
0.90
0.29
0.65
0.07
0.08
0.98
0.16
0.15
23
24
0.08
0.61
- 0.01
0.58
0.01
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
6
7
8
9
0.21
0.22
0.15
0.13
0.12
-0.62
-0.52
- 0.10
0.85
0.24
0.17
0.07
0.61
0.02
0.82
-0.03
- 0.10
-0.04
-1.02
1.11
0.12
0.25
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2000=100]
[Percent]
2007
Seasonally adjusted
Line
Line
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services..................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
IV
I
II
III
2 114.675 117.659 117.964 119.215 120.277 121.539 123.036
87.154
118.408
124.712
86.941
118.675
125.173
86.600
121.085
126.248
86.584
123.053
127.128
86.240
125.014
128.445
86.113
128.123
129.532
6 116.100 117.718 117.691 117.462 117.174 117.564 118.032
7
116.380
117.995
117.835
118.188
118.116
118.352
119.035
8 107.277 108.740 108.556 109.010 109.173 109.784 110.909
9 151.823
94.594
10
11 136.898
1?
157.661
94.870
138.885
157.384
94.712
138.803
159.129
94.797
138.780
160.172
94.699
137.878
161.486 164.276
95.099
95.708
136.665 135.512
Net exports of goods and
Exports....................................
Goods..................................
Services..............................
Imports....................................
Goods..................................
Services..............................
14
14
15
16
17
18
19
112.618
111.131
116.156
115.932
114.170
125.257
116.585
115.062
120.210
120.168
118.326
129.929
118.735
117.035
122.771
124.915
123.392
132.861
121.337
119.864
124.847
128.730
127.441
135.364
124.498
123.403
127.124
137.144
136.403
140.727
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
20
21
22
23
24
127.239
125.806
127.381
122.803
128.110
132.940 133.482 135.159
130.077 130.331 131.057
131.874 132.213 133.217
126.636 126.718 126.883
134.671 135.388 137.638
137.223
132.867
134.885
128.984
139.854
139.573 141.092
134.540 135.435
136.946 137.983
129.865 130.463
142.619 144.527
Addendum:
Gross national product............
25
116.672
119.813
121.495
121.876
116.962
115.336
120.825
121.208
119.287
131.412
119.990
120.737
126.528
125.083
129.992
140.198
139.623
142.859
123.037
0.88
0.52
0.37
-1.63
-1.46
-0.18
0.20
0.16
0.04
0.69
2008
II
III
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2
69.9
3
4
5
70.3
7.8
20.5
42.0
70.0
7.8
20.4
41.8
70.5
7.7
20.7
42.1
70.7
7.6
20.9
42.3
70.9
7.4
70.5
7.1
20.4
41.5
21.2
21.1
42.3
42.3
16.8
16.5
10.7
3.1
7.6
5.7
0.4
15.4
15.5
10.9
3.5
7.4
4.6
15.5
15.3
10.9
3.5
7.4
4.4
14.9
15.1
14.5
14.7
14.0
14.5
14.0
14.3
11.0
11.0
11.0
11.0
3.6
7.4
4.1
3.7
7.3
3.7
0.0
0.2
- 0.2
- 0.2
3.8
7.2
3.5
-0.5
4.0
7.0
3.3
-0.3
13
14
15
16
17
18
19
-5.7
-5.1
11.2
12.0
7.8
3.4
17.0
14.3
2.7
8.3
3.7
17.2
14.4
-4.9
12.3
8.5
3.8
17.2
14.4
-5.0
12.5
8.7
3.9
17.5
14.7
2.8
2.8
2.8
-5.0
12.9
8.9
4.0
17.9
15.0
2.9
-5.0
13.5
9.4
4.1
18.5
15.6
2.9
-4.9
13.7
9.5
4.1
18.6
15.6
3.0
20
21
22
19.0
7.1
4.7
2.3
19.4
7.1
4.8
2.3
12.3
19.4
7.1
4.8
2.3
12.3
19.5
7.1
4.8
2.3
12.4
19.8
7.3
4.9
2.3
12.5
20.1
7.4
5.1
2.3
12.7
20.4
7.6
5.3
2.3
10
11
12
Net exports of goods and
services.................................
Exports...................................
Goods..................................
Services...............................
Imports.....................................
Goods.................................
Services...............................
6
7
8
9
23
24
8.0
12.0
III
IV
1
1
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Nondurable goods...................
Services...................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Residential...........................
Change in private inventories...
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
1.45
2007
2008
1 116.676 119.816 119.997 120.743 121.508 121.890 123.056
3 88.771
4 114.985
5 120.752
2006
2.11
12.8
January 2009
Sur v ey
D-5
C u r r e n t B u sin ess
of
Table 1.2.2. Contributions to Percent Change in Real
Gross Domestic Product by Major Type of Product
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
Seasonally adjusted at annual rates
Line
2006
2007
2007
Line
2008
2006
2007
2007
2008
III
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
0.2
-0.5
0.8
-1.3
14.8
7.6
-4.4
0.0
4.9
-4.2
-6.7
-5.9
1.4
6.4
-5.4
14.1
17.4
Services 2.....................................
-
11.6
-7.7
2.7
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..............................
10.1
-
-0.9
2.9
25.0
19
2.1
21.3
17.3
-25.7
4.4
52.6
0.7
23.7
1.5
10.1
-14.2
-
1.0
-33.8
7.3
4.0
28.4
-0.7
-1.7
2.6
1.9
4.5
-0.3
0.8
2.7
-0.5
2.4
1.2
2.4
-1.3
0.0
-0.3
-1.4
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.
IV
I
II
Gross domestic product......
Percentage points at annual
rates:
Final sales of domestic
product............................
Change in private
inventories......................
1
2.8
2.0
4.8
- 0.2
0.9
2.8
-0.5
2
2.75
2.43
4.07
0.79
0.89
4.32
-1.35
3
0.03
-0.40
0.69
-0.96
- 0.02
-1.50
0.84
4
5
1.67
1.64
0.03
0.73
0.85
0.97
1.37
-0.40
0.57
0.80
-0.23
0.40
0.57
-0.17
2.71
0.01
2.02
0.97
-0.96
0.78
0.97
-0.19
-0.77
0.29
0.31
1.49
2.98
-1.50
-0.80
0.00
- 0.02
0.19
0.19
- 0.20
-0.77
0.00
-1.29
-2.13
0.84
0.82
-0.74
1.56
- 2.11
-1.39
-0.71
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
10
11
12
- 0.12
0.94
0.79
0.14
Services 2.....................................
13
1.35
1.61
2.35
0.79
1.62
1.02
0.87
Structures.....................................
14
-0.24
-0.55
-0.30
-0.97
-1.03
0.32
-0.09
15
-0.03
-0.03
0.47
- 0.86
-0.41
- 1.01
0.16
16
17
2.81
0.15
2.06
0.13
4.29
0.28
0.69
0.14
1.28
0.05
3.84
0.17
-0.67
- 0.01
18
2.63
1.90
4.48
-0.31
0.82
2.66
-0.50
Addenda:
Motor vehicle output...................
Gross domestic product excluding
motor vehicle output...............
Final sales of computers 3..........
Gross domestic product excluding
final sales of computers..........
6
7
8
9
0.69
1.92
1.03
0.88
0.80
0.99
- 0.02
0.10
0.12
0.20
- 1.00
2.29
2.79
-0.49
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 1.2.3. Real Gross Domestic Product by Major Type of Product,
Quantity Indexes
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2006
2007
2007
III
Gross domestic product......
Final sales of domestic
product...........................
Change in private
Line
2008
IV
I
II
2007
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
2 115.254 118.062 118.898 119.133 119.397 120.679 120.273
2007
III
Gross domestic product
Final sales of domestic
product............................
Change in private
2008
IV
I
II
III
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
2 116.710 119.853 120.020 120.856 121.653 122.008 123.204
3
123.877 124.165 125.657 124.327
126.345 126.661 129.733 127.497
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.....................................
4 118.120 121.819 123.866
5 118.665 123.980 125.357
fi
7 118.271 123.215 125.357
8 119.702 126.764 128.215
q
10 118.359 121.079 123.053
11 118.106 122.064 123.381
1?
13 115.073 118.248 118.918 119.317 120.128 120.637 121.075
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.....................................
14 107.317 101.904 102.193
Structures.....................................
127.148 127.375 125.460 127.422
130.498 130.779 131.235 129.429
121.691 122.025 126.129 122.284
123.382 123.725 128.779 126.215
99.726
97.097
97.897
97.653
15 115.156 113.904 118.665 110.163 106.030
95.654
97.343
16 115.042 117.488 118.410 118.620 119.009 120.173 119.967
17 229.878 278.889 294.677 310.796 317.000 337.452 336.042
18 114.427 116.612 117.603 117.510 117.751 118.531 118.382
19 115.743 117.129 117.771 117.389 117.388 117.301 116.900
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.
2006
III
S
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..............................
III
Percent change at annual rate:
Addenda:
Motor vehicle output...................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3..........
Gross domestic product
excluding final sales of
computers..............................
4 100.861 101.692 101.431 101.528 101.688 100.206 101.245
5 100.843 101.662 101.406 101.485 101.675 100.257 101.327
6
7
8
91.905
91.759
90.584
90.447
90.161
90.032
89.828
89.712
89.625
89.522
88.743
88.703
88.924
88.935
9
10 109.125 112.039 111.935 112.458 112.983 110.919 112.791
11 109.229 112.124 112.027 112.504 113.075 111.074 112.954
12
13 122.444 126.792 127.240 128.542 129.814 131.357 132.626
14 140.886 145.862 145.998 147.015 147.227 147.509 148.667
15
97.526
96.738
96.803
96.322
95.413
94.710
94.312
16 117.425 120.718 120.887 121.778 122.625 122.998 124.232
17 34.667 29.500 28.537 27.141 26.310 25.177 24.327
18 117.855 121.184 121.376 122.275 123.102 123.482 124.715
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.
D-6
National Data
January 2009
Table 1.2.5. Gross Domestic Product
by Major Type of Product
Table 1.2.6. Real Gross Domestic Product
by Major Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
IV
III
I
Line
II
2 13,129.0 13,811.2 13,927.6 14,052.3 14,176.4 14,370.5 14,462.5
22.2
-76.0
4,337.1
4,413.1
-76.0
1,881.0
1,924.9
-43.9
2,456.1
2,488.2
-32.1
4,333.6
4,383.3
-49.7
1,914.2
1,903.4
10.9
2,419.4
2,480.0
-60.5
8,134.5
8,208.8
8,320.7
8,460.2
8,597.0
8,711.5
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
1,400.3
1,405.6
1,381.2
1,346.7
1,360.4
1,367.7
Services 2....................................
-3.6
23.0
4,336.2
4,313.1
23.0
1,909.6
1,908.8
10
11
12
4,272.7
4,276.4
-3.6
1,885.4
1,895.6
- 10.2
2,387.3
2,380.8
6.5
Services 2.....................................
13
7,644.6
Structures......................................
14
1,424.3
6
7
8
9
15
409.9
402.2
0.8
2,426.6
2,404.4
419.4
387.1
-25.6
368.5
-49.7
330.4
333.5
16 12,768.5 13,405.3 13,531.1 13,644.1 13,782.3 13,964.1 14,079.3
17
87.6
90.4
93.0
93.3
92.3
94.0
90.4
18 13,090.8 13,717.1 13,857.6 13,937.9 14,058.6 14,200.5 14,322.4
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial 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.
2007
Structures....................................
Residual........................................
Addenda:
Motor vehicle output..................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3
Gross domestic product
excluding final sales of
computers..............................
2008
IV
I
3
4
42.3
3.2
-2.5
3.0
16.0
4.7
- 8.1
- 10.2
2.5
-50.6
- 0.8
-29.6
0.8
5
4,074.4
4,026.1
42.3
1,998.0
1,979.1
18.3
2,083.1
2,054.5
23.8
6,243.4
4,201.9
4,206.5
-2.5
2,081.6
2,095.8
-8.7
2,131.0
2,123.3
5.3
4,272.6
4,253.2
16.0
2,117.7
2,119.8
0.9
2,165.7
2,146.3
14.2
4,272.9
4,286.7
- 8.1
2,148.0
2,157.5
-5.2
2,141.7
2,146.3
-3.2
4,282.9
4,297.4
- 10.2
2,151.8
2,162.2
- 6.1
2,147.6
2,152.2
-4.3
4,334.3
4,401.6
-50.6
2,119.5
2,169.7
-36.1
2,219.8
2,240.2
-16.9
4,288.5
4,325.8
-29.6
2,152.6
2,139.9
9.3
2,152.2
2,195.6
-34.3
6,415.6
6,452.0
6,473.6
6,517.6
6,545.3
6,569.0
15
16
1,011.0
-35.3
960.0
-67.4
962.7
-70.2
939.5
-87.8
914.7
-90.3
922.2
-97.0
919.9
-87.0
17
420.3
415.7
433.1
402.1
387.0
349.1
355.3
6
7
8
9
10
11
12
13
14
20 11,107.5 11,319.6 11,415.8 11,406.7 11,430.1 11,505.8 11,491.4
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial 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.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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 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.
[Percent]
[Index numbers, 2000=100]
Seasonally adjusted at annual rates
2007
2007
Gross domestic product....
Business 1..................................
Nonfarm 2................................
Farm.......................................
Households and institutions....
Households.............................
Nonprofit institutions serving
households 3 .......................
1
2
3
4
5
6
7
8
2.8
3.0
3.2
-6.9
3.2
5.2
0.8
0.6
General government4...............
Federal....................................
State and local.........................
10
- 0.1
0.9
Addendum:
Gross housing value added
11
4.9
9
I
2.0
2.0
2.0
4.8
- 0.2
5.5
5.5
- 0.6
-0.7
9.7
8.6
2.7
3.0
2.2
8.2
1.1
0.6
2.2
3.0
1.3
0.7
2.1
1.8
1.6
1.6
3.8
1.3
1.4
1.7
3.7
2.8
1.0
2.5
Seasonally adjusted
Line
2008
IV
III
II
0.9
0.7
0.9
-15.5
0.8
2007
2007
III
-0.5
-10.7
- 1.8
-1.9
7.1
4.5
5.0
4.5
5.5
2008
IV
I
II
III
Gross domestic product....
Business 1.................................
Nonfarm 2
Farm
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
2 116.682 119.063 120.313 120.127 120.328 121.115 120.573
3 116.664
4 116.668
118.951
127.943
120.213
128.120
5 112.824
6 115.089
115.821
118.550
116.319 116.647 116.894
119.024 119.201 118.834
118.174 119.490
120.301 121.920
7 110.212
112.654
113.181
115.732
119.992
130.659
120.265
125.276
121.106
121.771
120.532
123.878
3.5
3.7
3.3
Households and institutions....
Households..............................
Nonprofit institutions serving
households 3........................
2.2
3.7
2.4
4.3
1.6
1.6
3.0
6.9
1.4
General government4...............
Federal....................................
State and local.........................
106.857 107.655
10 107.046 108.732
- 1.0
5.4
5.5
Addendum:
Gross housing value added
11 110.964 115.030 115.622 115.914 115.635 117.179 118.749
- 1.2
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 term 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.
2006
III
2.8
2.6
2.8
2.8
18 10,873.8 11,105.0 11,192.1 11,212.0 11,248.7 11,358.8 11,339.3
19
252.7
306.6
324.0
341.7
348.5
369.4
371.0
Table 1.3.3. Real Gross Value Added by Sector,
Quantity Indexes
2006
III
2 11,249.3 11,523.4 11,605.0 11,628.0 11,653.7 11,778.8 11,739.2
Table 1.3.1. Percent Change From Preceding Period
in Real Gross Value Added by Sector
Line
II
1 11,294.8 11,523.9 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4
Gross domestic product
Final sales of domestic
product...........................
Change in private
inventories.....................
Residual.............................
4,343.9
4,369.5
-25.6
1,928.7
1,935.9
-7.2
2,415.2
2,433.6
-18.4
49.3
4,109.4
4,060.1
49.3
1,836.3
1,816.0
20.3
2,273.1
2,244.1
29.0
2007
III
- 21.1
4,329.4
4,350.5
- 21.1
1,929.7
1,935.8
- 6.1
2,399.7
2,414.6
-14.9
3
4
5
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
2006
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
Gross domestic product......
Final sales of domestic
product...........................
Change in private
inventories......................
Addenda:
Motor vehicle output...................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3..........
Gross domestic product
excluding final sales of
computers...............................
Seasonally adjusted at annual rates
2008
113.691
114.675
116.684
8 106.991 108.403 108.634 109.058 109.661 110.322 111.147
9
108.030 108.402 109.403 110.570 112.424
108.898 109.346 109.773 110.210 110.581
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 tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
January 2009
Su r v e y
D-7
C u r r e n t B usin ess
of
Table 1.3.4. Price Indexes for Gross Value Added by Sector
Table 1.3.5. Gross Value Added by Sector
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2006
2007
2007
III
2008
IV
I
II
Line
2007
2007
2008
III
III
Gross domestic product....
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
Gross domestic product....
Business 1..................................
Nonfarm 2................................
Farm.......................................
2 113.880 116.631 116.748 117.437 118.051 118.251 119.505
Business 1.................................
Nonfarm 2 ................................
Farm.......................................
3 113.942 116.321 116.403 117.008 117.637 117.860 119.226
4 109.192 149.982 153.727 162.934 162.072 159.800 149.255
Households and institutions....
Households.............................
Nonprofit institutions serving
households3 .......................
5 122.503 126.083 126.246 127.999 129.363 129.987 130.735
6 117.778 120.862 121.111 122.770 124.126 124.831 125.332
General government4...............
Federal....................................
State and local.........................
8 130.843 136.547 137.091 138.142 139.658 140.764 141.853
Addendum:
Gross housing value added
7 128.587 132.840 132.880 134.758 136.128 136.640 137.722
IV
I
II
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
2 10,183.8 10,642.3 10,767.0 10,802.5 10,874.7 10,969.5 11,034.3
3 10,092.6 10,505.1 10,623.7 10,659.1 10,739.2 10,838.2 10,910.2
143.4
135.5
124.1
4
91.1
137.3
143.2
131.3
Households and institutions....
Households..............................
Nonprofit institutions serving
households 3........................
6
1,497.3
834.5
1,582.0
882.1
1,590.8
887.4
1,617.4
900.9
1,638.1
908.1
1,664.0
924.5
1,692.2
940.7
7
662.8
699.9
703.3
716.5
730.0
739.5
751.5
5
8 1,497.3 1,583.2 1,592.8 1,611.3 1,638.0 1,661.0 1,686.3
10 128.464 134.010 134.741 136.102 137.167 138.343 139.758
General government4...............
Federal....................................
State and local.........................
10 1,037.2 1,099.0 1,106.6 1,122.4 1,135.6 1,149.9 1,165.6
11 117.808 121.146 121.401 123.054 124.357 125.104 125.781
Addendum:
Gross housing value added..
11
9 136.545 142.629 142.719 143.022 145.621 146.562 146.879
9
460.1
1,038.3
484.2
486.2
488.9
1,132.9
1,114.8
1,106.9
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2007
2006
2007
2008
III
IV
I
III
II
Gross domestic product...........................................
1
11,294.8
11,523.9
11,625.7
11,620.7
11,646.0
11,727.4
11,712.4
Business 1..........................................................................
Nonfarm 2........................................................................
Farm................................................................................
2
8,945.6
8,860.8
83.4
9,128.2
9,034.5
91.5
9,224.0
9,130.4
91.6
9,209.7
9,113.6
93.5
9,225.2
9,134.3
89.6
9,285.5
9,198.2
87.1
9,243.9
9,154.6
Households and institutions............................................
Households.....................................................................
Nonprofit institutions serving households 3......................
5
1,219.3
708.5
512.6
1,251.7
729.9
523.9
1,257.1
732.8
526.4
1,260.6
733.9
528.7
1,263.3
731.6
533.3
1,277.1
740.6
538.2
1,291.3
750.6
542.7
3
4
6
7
8
88.6
General government4.......................................................
Federal............................................................................
State and local.................................................................
Residual...............................................................................
10
11
1,144.4
337.0
807.4
-14.9
1,159.5
339.5
820.1
-15.5
1,161.9
340.7
821.3
-17.5
1,166.5
341.9
824.7
-15.6
1,172.9
345.0
827.9
-15.7
1,180.0
348.7
831.2
-16.6
1,188.8
354.5
834.0
- 12.6
Addendum:
Gross housing value added.............................................
12
881.4
913.7
918.4
920.7
918.5
930.7
943.2
9
4.
Equals compensation of general government employees plus general
government consumption of fixed capital.
Note. Chained (2000) dollar series are calculated as the product of the chaintype quantity index and the 2000 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 esti
mates are usually not additive. The residual line is the difference between the
first line and the sum of the most detailed lines.
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 tenant-occupied housing
owned by nonprofit institutions.
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
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
2008
IV
II
I
III
1
2
2.8
2.0
9.1
8.4
6.0
2.6
2.2
4.8
23.0
3.0
- 0.2
4.4
-2.3
0.9
5.1
- 0.8
12.3
-7.3
-0.5
3.0
-3.5
Equals: Gross domestic purchases..................................
3
4
■i
1.4
2.6
- 1.0
0.1
- 0.1
-1.5
Equals: Final sales to domestic purchasers....................
6
2.6
1.8
1.9
- 0.1
0.1
1.3
-2.3
Addendum:
Final sales of domestic product.......................................
7
2.8
2.4
4.0
0.8
0.9
4.4
-1.3
Gross domestic product...................................................
Less: Exports of goods and services..................................
Plus: Imports of goods and services....................................
502.4
1,142.1
511.1
1,164.3
520.7
1,186.3
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.
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.
2006
2.8
D-8
National Data
January 2009
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, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Gross domestic product...........
Less: Exports of goods and
services...................................
Plus: Imports of goods and
services...................................
Equals: Gross domestic
purchases..............................
Less: Change in private
inventories...............................
Equals: Final sales to domestic
purchasers............................
Addendum:
Final sales of domestic product
Seasonally adjusted
2008
IV
I
Line
II
2 119.937 130.068 133.747 135.189 136.880 140.908 141.943
130.815
4 116.748
133.654
134.033
118.343 119.013
133.254 132.991
118.700 118.726
130.509
118.694
2007
III
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
3
2006
129.367
118.255
R
2007
III
Gross domestic product...........
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services...................................
Equals: Gross domestic
purchases...............................
Less: Change in private
inventories..............................
2008
IV
I
II
III
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
2 112.618 116.586 117.018 118.794 121.397 124.560 126.592
3
115.932
120.168
121.200 124.907 128.722 137.136 140.189
4 117.066 120.294 120.571
121.766
122.821
124.103 125.475
s
6 116.948 118.995 119.469 119.427 119.461 119.853 119.173
Equals: Final sales to domestic
purchasers..............................
6 117.101 120.329 120.609 121.798 122.863 124.160 125.543
7 115.254
Addendum:
Final sales of domestic product
7 116.710
118.062
118.898
119.133
119.397
120.679
120.273
119.853
120.020 120.856 121.653 122.008 123.204
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 (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross domestic product...........
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services...................................
Seasonally adjusted at annual rates
Line
2008
IV
I
II
2006
2007
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
2
1,480.8
1,662.4
1,714.9
1,759.7
1,820.8
1,923.2
1,968.9
3
2,238.1
2,370.2
2,397.5
2,456.5
2,526.5
2,641.4
2,676.6
2007
III
Gross domestic product...........
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
2008
IV
I
II
III
1 11,294.8 11,523.9 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4
2
1,314.8
1,425.9
1,466.2
1,482.1
1,500.6
1,544.7
1,556.1
3
1,930.5
1,972.4
1,978.0
1,966.5
1,962.6
1,926.0
1,909.1
Equals: Gross domestic
purchases..............................
Less: Change in private
inventories...............................
5
-49.7
Equals: Gross domestic
purchases...............................
Less: Change in private
inventories..............................
Equals: Final sales to domestic
purchasers.............................
6 13,886.4 14,519.0 14,610.1 14,749.0 14,882.2 15,088.7 15,170.2
Equals: Final sales to domestic
purchasers..............................
6 11,858.5 12,066.0 12,114.1 12,109.8 12,113.3 12,153.0 12,084.1
Addendum:
Final sales of domestic product
7 13,129.0 13,811.2 13,927.6 14,052.3 14,176.4 14,370.5 14,462.5
Addendum:
Final sales of domestic product
7 11,249.3 11,523.4 11,605.0 11,628.0 11,653.7 11,778.8 11,739.2
4 13,935.7 14,515.3 14,633.1 14,728.0 14,856.6 15,012.7 15,120.5
49.3
-3.6
23.0
- 21.1
-25.6
-76.0
4 11,904.1 12,066.8 12,135.1 12,103.2 12,105.8 12,102.6 12,057.8
5
42.3
-2.5
16.0
-8.1
- 10.2
-50.6
-29.6
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
January 2009
Survey
of
D-9
C u r r e n t B u sin ess
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
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food...................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other..................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1 ...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Farm...................................
Nonfarm...............................
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services..............................
Imports...................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures
Gross investment.................
2008
I
IV
II
Line
2.0
4.8
-0.2
0.9
2.8
-0.5
2
2.8
4.8
1.0
0.4
- 2.6
2.0
2.0
2.3
-6.7
0.9
-4.3
-10.7
1.2
3
4
3.0
4.5
- 2.8
-19.7
-3.8
-14.8
-26.6
5
12.1
8.0
8.8
6
6.3
3.7
4.0
5.9
4.8
2.5
1.9
4.7
9.4
14.0
2.4
3.9
4.1
10.9
- 8.2
-4.6
-7.1
-7.3
-13.3
-6.4
-13.4
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
- 2.0
4.5
2.5
3.2
-0.4
-3.0
1.5
2.0
2.6
3.2
2.5
2.1
1.9
7.5
8.2
7.2
26
9.1
27
28
29
30
24.7
4.1
7.9
5.7
31
32
33
34
35
36
6.7
4.1
-7.1
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
1.2
0.3
4.4
-3.2
0.8
-0.4
3.2
2.0
2.6
2.4
0.7
1.5
1.8
1.9
1.8
1.9
2.3
3.7
2.4
2.8
-5.4
-3.1
4.9
12.7
1.7
3.5
-0.9
8.7
20.5
3.6
2.5
0.5
3.9
- 0.8
4.0
-0.4
- 0.8
-11.9
- 6.2
3.4
8.5
1.0
- 6.0
- 1.8
2.4
0.5
6.2
0.2
1.8
0.7
1.7
-4.3
7.4
- 11.0
- 0.1
0.7
- 8.2
-20.7
1.0
2.1
-3.0
-2.3
2.5
-1.5
- 2.1
1.7
4.9
-4.7
4.1
-5.8
-5.6
2.4
8.6
- 0.6
13.0
13.0
-3.6
-22.4
-4 A
5.3
- 8.8
-14.0
-12.5
-25.1
-46.6
-3.2
-13.3
-44.7
18.0
-16.0
19.5
6.4
6.5
- 2.8
19.3
9.9
7.3
-14.3
-5.6
4.6
-15.2
6.3
-27.0
2.2
1.7
4.4
- 20.6
23.0
21.8
25.9
3.0
2.4
6.3
1.7
2.3
2.1
1.6
3.8
7.2
1.6
0.8
2.5
10.2
2.6
1.6
10.9
5.4
- 0.2
- 0.2
1.2
0.2
2.3
2.0
3.7
1.7
- 2.2
1.9
1.5
3.5
4.4
5.1
2.7
-2.3
- 2.6
-0.9
0.8
-0.5
-0.9
-1.4
3.0
0.4
- 0.8
8.1
1.6
1.6
1.5
0.4
-5.3
-1.7
9.7
-7.5
0.2
0.8
17.9
- 12.6
-5.2
-17.9
-11.5
-1.7
2.5
18.5
-5.0
0.2
16.1
9.9
7.2
5.4
1.4
1.3
-0.3
-4.2
10.5
10.0
2.8
8.0
8.7
6.0
6.0
6.0
2.6
1.2
-2.3
-0.4
1.3
3.0
9.6
8.4
7.5
10.5
10.7
1.3
1.7
- 0.2
-1.7
-1.5
1.4
1.6
1.1
1.9
2.9
4.5
3.2
9.1
9.9
7.2
7.0
3.6
2.8
1.8
5.1
4.5
6.4
- 0.8
- 2.0
5.5
1.9
5.8
7.3
7.4
2.1
12.3
16.3
3.8
-7.3
-7.1
- 8.0
3.0
3.7
1.4
-3.5
-4.7
3.3
2.9
2.9
7.3
3.4
38.7
5.0
4.0
2.8
11.8
-0.3
1.4
- 6.8
2.5
5.8
13.8
18.0
17.3
22.7
5.1
5.6
1.5
1.3
1.2
1.1
7.8
2.3
6.0
3.9
6.6
2007
2008
IV
I
II
III
Percent change at annual rate:
Gross domestic product....
3.9
-3.6
0.3
2007
III
2.8
- 0.8
2006
III
1
1. Excludes software “embedded,” or bundled, in computers and other equipment.
Seasonally adjusted at annual rates
1
2.8
2.0
4.8
-0.2
0.9
2.8
-0.5
2
2.13
0.36
-0.09
1.95
0.38
0.07
1.44
0.19
- 0.22
0.67
0.03
-0.03
0.61
-0.33
-0.35
0.87
- 0.21
-0.64
-2.75
-1.16
-0.83
0.24
0.08
0.50
0.18
0.13
0.26
0.15
0.25
0.03
0.11
0.05
-0.04
-0.08
0.13
0.08
0.39
0.04
0.80
0.40
0.28
-0.25
-0.08
-1.57
-0.75
-0.38
0.02
- 0.01
0.11
1.00
-0.05
-0.08
0.59
-0.18
- 0.10
0.12
- 0.02
-0.05
0.03
0.05
0.31
0.09
0.24
0.17
1.07
0.16
0.07
0.03
0.04
0.05
0.35
0.13
0.31
0.05
0.07
23
24
25
0.35
0.32
0.77
0.23
0.54
26
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services...................................
Housing................................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other....................................
3
4
5
0.35
6
0.10
7
0.74
0.38
0.16
8
9
-0.05
0.25
13
14
15
16
17
18
19
0.34
0.12
0.02
0.01
0.11
- 0.20
0.33
0.28
0.18
-0.17
-0.19
0.04
0.06
0.45
0.07
0.28
0.08
- 0.02
0.48
- 0.01
-0.08
-0.05
0.04
0.59
-0.14
0.40
-0.08
0.35
0.04
-0.03
-0.90
-0.50
0.52
0.40
0.13
0.54
-0.15
0.91
0.65
0.26
-1.93
-0.97
0.36
0.29
0.07
-0.89
- 0.86
0.26
0.30
-0.04
-1.74
-0.25
0.27
0.64
-0.37
0.06
-0.79
-0.19
0.36
-0.55
0.32
0.34
0.31
0.37
0.27
0.30
-0.16
27
28
29
30
0.15
0.06
0.11
0.12
0.10
0.10
0.16
0.16
0.07
0.02
0.09
-0.04
0.10
- 0.20
0.00
0.01
0.08
0.04
0.18
-0.05
-0.16
-0.08
0.08
- 0.12
31
32
33
34
35
36
0.09
0.05
-0.45
0.03
-0.03
0.06
-0.17
-0.07
- 1.02
-0.40
0.04
-0.44
-0.07
0.06
-1.06
0.69
-0.08
0.77
-0.18
0.08
-1.33
-0.96
0.47
-1.43
-0.16
-0.16
- 1.12
- 0.02
-0.17
0.15
-0.58
-0.04
-0.52
-1.50
-0.14
-1.36
-0.47
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
37
38
39
40
41
42
43
-0.02
0.96
0.73
0.23
-0.98
-0.82
-0.16
0.58
0.95
0.59
0.36
-0.37
-0.25
- 0.12
2.03
2.54
0.94
0.53
0.43
0.77
0.63
0.39
0.24
0.14
0.29
-0.15
2.93
1.54
1.39
0.15
1.39
1.14
0.25
1.05
0.40
0.34
0.06
0.65
0.74
-0.09
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.................
44
45
46
47
48
49
50
51
52
53
54
0.32
0.16
0.08
0.04
0.04
0.08
0.05
0.03
0.16
0.16
0.78
0.47
0.36
0.15
1.14
0.97
0.85
0.72
0.14
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software 1................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm....................................
Nonfarm...............................
10
11
12
-0.06
0.05
0.27
-0.09
20
21
22
1.02
0.11
0.00
0.15
0.08
0.40
0.11
0.12
0.11
0.01
0.00
0.00
0.00
0.28
0.20
0.09
0.08
0.06
1.66
0.88
0.09
0.12
0.10
1.02
-0.51
-0.34
-0.17
0.40
0.38
0.75
0.51
0.48
0.45
0.03
0.03
0.03
0.16
-0.04
-0.04
-0.06
- 0.02
0.38
0.41
0.34
0.31
0.04
0.06
0.06
- 0.01
0.24
0.15
0.09
0.02
0.01
0.19
0.15
0.04
-0.03
0.14
-0.18
0.02
0.02
0.01
1. Excludes software “embedded,” or bundled, in computers and other equipment.
0.02
0.21
0.11
0.08
0.03
0.31
-0.45
0.01
-0.03
0.08
-0.33
-0.38
0.05
-0.06
0.31
-0.04
0.02
0.20
-0.60
0.84
0.01
0.83
0.12
0.11
0.00
0.17
0.12
0.11
0.19
0.06
D-10
National Data
January 2009
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, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing...............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other...................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1 ...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Seasonally adjusted
2008
IV
I
II
Line
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
137.274
113.304
143.908
115.582
144.720
114.746
144.856
114.513
143.284
111.313
142.273
105.357
136.695
97.517
5 175.831
6 132.979
7 119.930
8 117.831
9 132.484
189.830
139.314
122.872
120.038
138.677
192.006
142.080
123.182
120.080
139.942
193.857
140.796
123.261
120.924
138.806
194.714 201.210
139.967 140.804
123.147 124.317
121.315 122.534
139.821 143.488
196.934
139.174
122.035
120.232
138.462
10 102.633 103.438 103.330
11 125.011 128.976 129.588
12 115.298 118.259 118.605
102.901
129.094
119.020
116.839
108.696
105.540
110.980
102.969
130.943
125.365
115.638
101.329
128.514
119.739
116.978
109.183
107.453
110.404
103.408
132.522
123.860
116.814
96.137
130.525
119.916
117.687
105.716
98.502
111.261
102.026
134.285
123.801
116.768
13
14
15
16
17
18
19
20
114.718
106.000
103.457
107.826
100.853
125.648
119.546
111.625
116.420
107.959
105.447
109.760
102.731
129.317
124.880
115.218
116.501
108.035
105.399
109.932
103.172
129.659
125.479
115.866
99.664
130.448
119.937
117.469
108.001
104.375
110.677
102.628
133.451
124.263
116.714
21 110.200 104.278 105.950 102.639 101.110 98.071 98.169
22 111.109 107.717 108.218 106.503 104.969 104.522 103.102
23
24
25
106.987
86.318
115.467
112.244
97.264
117.412
113.863
100.005
118.348
114.819
102.076
118.636
115.504
104.206
118.470
116.212
108.716
116.961
115.714
111.257
114.709
26
127.574
139.842
141.339
144.914
147.465
150.324
148.727
27
28
29
30
195.433 230.472 234.740 245.331 254.682 262.580 246.464
122.340 134.548 135.899 139.131 142.463 143.201 141.617
108.784 114.710 115.585 117.627 117.698 121.342 122.931
95.494
96.414
97.805
99.953
96.179
96.369
93.311
31
32
33
44
99.186
119.265
123.728
86.683
113.095
101.534
85.427
113.716
99.644
81.981
115.475
92.110
78.949
111.679
85.698
67.497
110.767
82.692
58.204
115.457
79.154
119.937
118.407
123.826
130.815
132.613
122.153
130.068
127.335
136.868
133.654
134.921
127.581
133.747
130.571
141.620
134.033
135.197
128.460
135.189
132.219
142.570
133.254
134.315
128.185
136.880
133.690
144.792
132.991
133.654
129.913
140.908
138.826
146.131
130.509
131.212
127.217
141.943
140.079
146.640
129.367
129.653
128.249
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.................
44 114.497 116.871 117.642 117.879 118.443 119.594
45 128.019 130.078 131.772 131.610 133.488 135.628
46 132.315 135.596 138.002 137.694 140.125 142.621
47 129.097 132.457 134.826 134.343 136.773 137.921
48 157.208 159.765 162.446 163.647 166.030 180.174
49 120.318 120.127 120.506 120.614 121.469 122.949
50 119.305 119.048 119.441 119.214 120.061 121.235
51 128.081 128.357 128.627 131.166 132.081 135.821
52 107.642 110.167 110.484 110.914 110.844 111.517
53 107.669 109.828 110.046 110.478 110.874 111.201
54 107.447 111.471 112.188 112.612 110.632 112.741
121.288
140.080
148.643
143.533
189.622
124.473
122.897
136.325
111.891
111.509
113.391
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other....................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing...............................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other....................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software 1................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
2008
IV
I
II
III
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
2 114.675 117.659 117.969 119.221 120.283 121.544 123.041
87.154
86.938
86.598
86.581
86.237
3
88.772
86.110
4
99.099
98.589
98.737
98.919
98.698
98.382
98.345
5
73.331
98.460
114.984
115.344
91.332
69.924
99.421
118.407
119.682
90.595
69.426
99.232
118.682
120.440
90.114
68.445
99.608
121.092
121.553
90.311
68.115
100.809
123.059
123.007
90.203
67.161
102.109
125.021
124.943
89.520
66.716
102.720
128.129
127.519
90.817
6
7
8
9
10 171.084 185.237 185.479 205.630 218.289 231.457 251.777
11 109.796 111.013 110.946 111.638 112.598 113.027 113.325
12 120.752 124.712 125.179 126.253 127.133 128.450 129.538
13
14
15
16
17
18
19
20
120.281
121.503
141.370
110.042
116.172
122.136
118.532
121.376
124.679
124.813
144.797
113.275
119.318
126.601
120.418
125.365
125.110
125.018
144.522
113.745
119.935
126.962
120.595
126.145
126.086
126.005
146.182
114.354
121.004
128.078
121.833
127.259
126.994
127.183
148.139
115.093
122.455
128.364
122.851
128.529
127.623 128.405
131.604 134.783
157.995 164.322
116.476 117.958
124.768 126.808
129.127 130.037
123.699 125.200
129.950 130.416
21 116.102 117.735 117.566 117.960 117.815 117.926 118.510
22 116.380 117.995 117.836 118.189 118.117 118.353 119.037
23
24
25
107.277
151.822
94.594
108.739
157.662
94.870
108.558
157.402
94.712
109.015
159.138
94.798
109.177
160.182
94.700
109.788
161.496
95.101
110.913
164.285
95.710
26
80.851
79.170
78.830
78.586
78.245
78.370
78.293
2/
28
29
30
44.779
95.464
90.860
111.551
40.062
95.888
90.278
115.968
39.308
95.850
90.097
116.383
38.391
96.147
90.047
117.484
37.024
96.339
90.345
118.620
36.297
96.976
90.863
120.525
35.608
97.196
91.160
122.615
31 110.916
32 110.642
33 136.897
44
4S
46
112.762
113.222
138.884
112.494
113.376
138.820
112.519
113.933
138.803
111.871
114.175
137.900
111.849
114.579
136.687
112.692
116.616
135.535
116.586
115.062
120.211
117.018
115.382
120.905
120.168
118.326
129.928
119.274
131.423
118.794
117.085
122.855
124.907
123.378
132.874
121.397
119.916
124.932
128.722
127.427
135.377
124.560
123.456
127.211
137.136
136.387
140.740
126.592
125.137
130.082
140.189
139.607
142.873
44 127.239 132.941 133.497
45 125.806 130.076 130.342
46 127.381 131.874 132.232
47 131.213 136.220 136.573
48 103.657 105.255 105.625
49 122.803 126.636 126.721
50 125.964 130.378 130.499
51 103.916 104.556 104.446
52 128.109 134.671 135.400
53 128.485 134.517 135.190
54 126.675 135.383 136.337
135.174
131.070
133.237
137.704
105.920
126.886
130.637
104.753
137.649
137.612
137.896
137.237
132.879
134.905
139.603
106.296
128.986
133.128
104.758
139.866
140.173
138.722
139.588
134.553
136.967
141.872
107.217
129.868
134.139
104.948
142.632
143.333
139.890
141.107
135.447
138.004
142.967
107.925
130.465
134.776
105.326
144.540
145.179
142.050
Net exports of goods and
M
38
39
40
41
42
43
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2007
III
4fi
Net exports of goods and
Exports....................................
Goods..................................
Services..............................
Imports....................................
Goods.................................
Services..............................
2007
III
2 119.135 122.456 122.838 123.130 123.395 123.770 122.572
3
4
2006
Exports....................................
Goods.................................
Services...............................
Imports.....................................
Goods..................................
Services...............................
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Grass investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
4f
38
39
40
41
42
43
112.618
111.131
116.156
115.932
114.171
125.257
121.200
1. Excludes software “embedded,” or bundled, in computers and other equipment.
January 2009
Survey
of
D-11
C u r r e n t B usin ess
Table 1.5.5. Gross Domestic Product, Expanded Detail
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food...................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services..................................
Housing...............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other..................................
Seasonally adjusted at annual rates
2008
IV
I
II
Line
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts ....
Furniture and household
equipment........................
Other....................................
9,710.2
1,082.8
440.4
9,765.6
1,086.2
437.9
9,892.7 10,002.3 10,138.0 10,163.5
1,083.0 1,071.0 1,059.3 1,016.2
424.7
437.8
400.6
370.7
403.5
214.6
2,685.2
1,257.4
360.2
415.3
227.0
2,833.0
1,329.1
374.0
417.2
231.1
2,846.6
1,337.9
375.4
415.3
229.9
2,906.2
1,359.8
373.2
415.1
231.3
2,950.7
1,380.5
375.5
423.0
235.7
3.026.2
1.416.3
382.4
411.2
234.3
3,044.6
1,418.4
374.4
336.2
731.4
5,469.9
1,388.7
502.4
209.6
292.9
341.2
1,575.8
380.1
1,281.6
366.9
762.9
5,794.4
1,460.9
525.7
218.8
306.9
357.0
1,681.1
403.4
1,366.3
367.1
766.1
5,832.8
1,466.9
526.9
218.3
308.6
360.4
1,690.2
405.9
1,382.5
405.3
767.9
5,903.5
1,482.7
534.3
313.2
362.9
1,721.9
409.7
1,392.0
423.7
771.1
5,980.6
1,495.1
541.7
228.1
313.6
368.8
1,746.6
408.2
1,420.2
441.8
785.7
6,052.5
1,508.8
554.5
236.3
318.1
372.9
1,769.3
412.3
1,434.6
463.6
788.2
6,102.7
1,520.9
555.8
231.9
323.9
376.8
1,792.9
415.8
1,440.4
23
24
25
2,220.4
2,171.1
1,414.1
410.4
1,003.7
2,130.4
2,134.0
1,503.8
480.3
1,023.5
2,164.0
2,141.0
1,522.9
492.9
1,030.0
2,092.3
2,113.4
1,542.1
508.7
1,033.4
2,056.1
2,081.7
1,553.6
522.7
1,030.9
2,000.9
2,077.0
1,571.9
549.8
1,022.1
2,010.9
2,060.6
1,581.2
572.4
1,008.8
26
482.3
517.7
521.1
532.5
539.6
550.9
544.5
?7
28
29
30
88.8
205.7
187.8
171.2
93.7
227.3
196.8
180.6
93.7
229.5
197.9
185.2
96.8
244.6
209.5
183.2
89.2
242.5
212.9
182.2
31
32
33
34
3b
36
177.0
173.1
757.0
49.3
-3.9
53.3
157.2
168.0
630.2
-3.6
105.5
176.6
479.4
-49.7
-4.2
-45.5
Software 2................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm...................................
Nonfarm...............................
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services..............................
Imports...................................
Goods.................................
Services..............................
3/
38
39
40
41
42
43
-707.7
1,968.9
1,374.3
594.6
2,676.6
2,251.0
425.6
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.................
44
45
46
47
48
49
50
b1
52
53
54
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1 ...............
Other.......................
Industrial equipment
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Farm...................................
Nonfarm..............................
5
6
7
8
9
10
11
12
13
14
1b
16
17
18
19
20
21
22
221.1
95.7
235.6
95.8
241.8
201.2
202.0
179.9
182.0
148.4
172.6
571.3
- 21.1
5.7
-26.7
142.1
167.3
528.1
-25.6
-5.2
154.6
169.2
618.1
23.0
- 0.2
23.2
-25.8
121.4
166.5
505.0
-76.0
-4.1
-71.9
-757.3
1,480.8
1,032.1
448.7
2,238.1
1,882.7
355.4
-707.8
1,662.4
1,149.2
513.2
2,370.2
1,985.2
385.1
-682.6
1,714.9
1,181.2
533.8
2,397.5
2,005.4
392.1
-696.7
1,759.7
1,213.7
546.0
2,456.5
2,060.9
395.6
-705.7
1,820.8
1,256.9
563.9
2,526.5
2,118.0
408.5
-718.2
1,923.2
1,343.7
579.5
2,641.4
2,225.5
415.9
2,508.1
932.2
624.1
544.6
79.5
308.0
267.2
40.8
1,575.9
1,269.6
306.3
2,674.8
979.3
662.2
580.1
82.1
317.1
276.0
41.1
1,695.5
1,355.9
339.6
2,703.5
994.0
675.6
591.9
83.7
318.3
277.2
41.2
1,709.5
1,365.3
344.2
2,742.9
998.3
679.3
594.7
84.6
319.0
276.9
42.1
1,744.6
1,395.2
349.4
2,798.1
1,026.5
699.9
613.8
2,873.7
1,056.1
723.3
629.0
94.3
332.9
289.2
43.7
1,817.6
1,462.7
354.9
1.6
0.2
86.1
326.6
284.2
42.4
1,771.6
1,426.3
345.3
2,946.1
1,098.0
759.5
659.6
99.9
338.5
294.5
44.0
1,848.1
1,485.7
362.4
2007
III
9,207.2
1,052.1
434.0
3
4
2007
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
2
2006
2008
IV
I
II
III
1 11,294.8 11,523.9 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4
2
8,029.0
1,185.1
437.9
8,252.8
1,242.4
446.7
8,278.5
1,249.4
443.5
8,298.2
1,250.6
442.6
8,316.1
1,237.0
430.2
8,341.3
1,228.3
407.2
8,260.6
1,180.1
376.9
550.2
218.0
2,335.3
1,090.1
394.4
594.0
228.3
2,392.6
1,110.5
412.9
600.8
232.9
2,398.6
1,110.9
416.6
606.6
230.8
2,400.2
1,118.7
413.2
609.3
229.4
2,397.9
1,122.4
416.3
629.6
230.8
2,420.7
1,133.6
427.2
616.2
228.1
2,376.3
1,112.3
412.2
196.5
4,529.9
1,154.6
413.5
148.3
266.1
293.7
1,290.2
320.7
1,055.9
198.1
687.3
4,646.2
1,171.7
421.2
151.1
270.9
299.2
1,327.8
335.0
1,089.9
197.9
690.5
4,659.8
1,172.5
421.5
151.0
271.3
300.5
1,331.4
336.6
1,096.0
197.0
687.9
4,676.1
1,175.9
424.0
151.2
273.9
299.9
1,344.5
336.3
1,093.9
194.0
684.8
4,704.3
1,177.3
425.9
154.0
272.5
301.2
1,360.8
332.3
1,105.0
190.8
695.1
4,712.1
1,182.3
421.3
149.6
273.2
298.9
1,370.3
333.4
1,104.0
184.1
695.5
4,711.3
1,184.5
412.4
141.2
274.6
297.2
1,378.9
332.1
1,104.6
23
24
25
1,912.5
1,865.5
1,318.2
270.3
1,061.0
1,809.7
1,808.5
1,382.9
304.6
1,078.9
1,838.7
1,817.0
1,402.9
313.2
1,087.5
1,781.3
1,788.2
1,414.7
319.7
1,090.1
1,754.7
1,762.4
1,423.1
326.4
1,088.6
1,702.0
1,754.9
1,431.8
340.5
1,074.7
1,703.7
1,731.1
1,425.7
348.4
1,054.0
26
596.6
653.9
660.9
677.6
689.6
702.9
695.5
?7
28
29
30
215.5
206.7
153.5
237.0
218.0
155.7
239.4
219.6
159.1
245.1
223.5
153.1
251.0
223.6
153.4
252.3
230.6
152.0
249.5
233.6
148.6
31
32
33
34
35
36
159.5
156.5
552.9
42.3
-3.2
46.3
139.4
148.4
453.8
-2.5
131.9
151.5
411.6
- 8.1
10.5
- 20.6
127.0
146.5
383.0
- 10.2
-17.9
108.6
145.3
369.6
-50.6
2.4
-55.1
93.6
151.5
353.7
-29.6
-3.7
137.4
149.2
445.3
16.0
-2.5
19.2
-33.3
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services...............................
Imports....................................
Goods.................................
Services...............................
3/
38
39
40
41
42
43
-615.7
1,314.8
928.7
386.3
1,930.5
1,649.0
283.7
-546.5
1,425.9
998.7
426.9
1,972.4
1,677.7
296.4
-511.8
1,466.2
1,024.1
441.8
1,978.0
1,681.1
298.4
-484.5
1,482.1
1,037.0
444.7
1,966.5
1,670.2
297.8
-462.0
1,500.6
1,048.6
451.7
1,962.6
1,662.0
301.8
-381.3
1,544.7
1,088.9
455.8
1,926.0
1,631.6
295.5
-353.1
1,556.1
1,098.7
457.4
1,909.1
1,612.2
297.9
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......................................
44
45
46
47
48
49
50
51
52
53
54
55
1,971.2
741.0
490.0
415.0
76.7
250.8
2,012.1
752.9
502.1
425.8
78.0
250.4
211.7
39.3
1,259.0
1,008.0
250.9
-152.7
2,025.3
762.7
511.0
433.5
79.3
251.2
212.4
39.4
1,262.6
1,010.0
252.5
-158.2
2,029.4
761.7
509.9
431.9
79.9
251.5
2,039.1
772.6
518.9
439.7
81.0
253.2
213.5
40.5
1,266.7
1,017.6
249.0
-178.7
2,058.9
785.0
528.1
443.4
87.9
256.3
215.6
41.6
1,274.4
1,020.6
253.7
-191.6
2,088.1
810.8
550.4
461.5
92.6
259.5
218.5
41.8
1,278.7
1,023.4
255.2
-162.8
3
4
5
6
7
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing................................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other...................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
666.1
212.2
39.3
1,230.2
988.2
241.8
-99.7
1.0
212.0
40.2
1,267.5
1,013.9
253.4
-171.9
6.0
2.2
1. Excludes software “embedded,” orbund ed, in comp uters and ther equipnnent.
1. 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.
2. 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.
January 2009
National Data
D-12
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, 2000=100]
[Percent]
Seasonally adjusted
Line
2006
2007
2007
III
Gross domestic purchases...
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services..................................
Housing...............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other...................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1 ...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Seasonally adjusted at annual rates
Line
2008
IV
I
II
1 117.066 120.294 120.571 121.766 122.821 124.103 125.475
2 114.675 117.659 117.969 119.221 120.283 121.544 123.041
3 88.772 87.154 86.938 86.598 86.581 86.237 86.110
4
99.099
98.589
98.737
98.919
98.698
98.382
98.345
69.924 69.426 68.445 68.115 67.161
66.716
73.331
98.460 99.421 99.232 99.608 100.809 102.109 102.720
7 114.984 118.407 118.682 121.092 123.059 125.021 128.129
8 115.344 119.682 120.440 121.553 123.007 124.943 127.519
9 91.332 90.595 90.114 90.311
90.203 89.520 90.817
5
6
10 171.084 185.237 185.479 205.630 218.289 231.457 251.777
11 109.796 111.013 110.946 111.638 112.598 113.027 113.325
12 120.752 124.712 125.179 126.253 127.133 128.450 129.538
13
14
15
16
17
18
19
120.281
121.503
141.370
110.042
116.172
122.136
118.532
20 121.376
124.679
124.813
144.797
113.275
119.318
126.601
120.418
125.365
125.110
125.018
144.522
113.745
119.935
126.962
120.595
126.145
126.086
126.005
146.182
114.354
121.004
128.078
121.833
127.259
126.994
127.183
148.139
115.093
122.455
128.364
122.851
128.529
127.623
131.604
157.995
116.476
124.768
129.127
123.699
129.950
128.405
134.783
164.322
117.958
126.808
130.037
125.200
130.416
21 116.102 117.735 117.566 117.960 117.815 117.926 118.510
22 116.380 117.995 117.836 118.189 118.117 118.353 119.037
23 107.277 108.739 108.558 109.015 109.177 109.788 110.913
24 151.822 157.662 157.402 159.138 160.182 161.496 164.285
95.710
25 94.594 94.870 94.712 94.798 94.700 95.101
26
80.851
79.170
78.830
78.586
78.245
78.370
2006
2007
III
78.293
37.024 36.297 35.608
27 44.779 40.062 39.308 38.391
28 95.464 95.888 95.850 96.147 96.339 96.976 97.196
29 90.860 90.278 90.097 90.047 90.345 90.863 91.160
30 111.551 115.968 116.383 117.484 118.620 120.525 122.615
31 110.916 112.762 112.494 112.519 111.871 111.849 112.692
32 110.642 113.222 113.376 113.933 114.175 114.579 116.616
33 136.897 138.884 138.820 138.803 137.900 136.687 135.535
T4
2007
III
Gross domestic purchases. ..
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services..................................
Housing................................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other....................................
Gross private domestic
investment..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software 1................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
2008
IV
I
II
III
1
3.4
2.8
2.2
4.0
3.5
4.2
4.5
2
2.8
-1.3
0.6
2.6
- 1.8
-0.5
2.5
-1.9
1.5
4.3
- 1.6
0.7
3.6
- 0.1
-0.9
4.3
- 1.6
-1.3
5.0
- 0.6
- 0.2
-4.6
-4.6
- 6.2
-0.5
2.9
4.8
- 1.6
-5.5
1.5
8.4
3.7
0.9
-1.9
4.9
6.7
4.9
-0.5
-5.5
5.3
6.5
6.4
-3.0
- 2.6
2.4
10.3
8.5
5.9
51.1
2.5
3.5
3.2
3.2
4.7
27.0
3.5
26.4
1.5
4.2
40.0
2.2
2.6
3.3
5.3
0.7
3.1
2.9
0.7
-2.4
2.9
4.7
2.9
1.5
4.6
3.6
3.6
4.2
3.6
4.9
0.9
3.4
4.1
-0.3
-0.4
- 0.6
0.5
- 1.2
1.3
-0.5
- 0.2
0.4
1.7
4.5
0.4
0.6
0.1
1.4
1.4
1.4
3.8
0.3
2.7
-0.4
2.3
3.3
1.7
26
- 2.1
- 2.1
-2.9
- 1.2
-1.7
0.6
-0.4
2/
-12.9
1.3
-0.3
3.2
-10.5
0.4
- 0.6
4.0
-12.7
-9.0
-13.5
0.1
1.2
- 0.2
0.8
-7.6
2.7
2.3
0.9
2.3
5.9
1.7
2.3
1.5
3/
38
39
40
41
42
43
44
45
46
47
4.7
4.1
4.5
4.8
4.5
3.4
3.5
3.8
1.5
3.1
3.5
48
3
4
5
6
0.8
1.0
7
3.0
2.3
-0.4
3.0
3.8
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
28
29
30
31
32
33
34
12.6
1.9
3.5
3.6
5.2
8.9
2.6
3.1
3.0
3.0
3.5
4.2
4.2
3.3
12.3
- 0.8
8.3
1.1
3.3
3.7
2.7
2.4
2.9
2.7
3.7
1.6
1.2
2.8
2.9
3.8
5.5
2.0
14.6
29.4
4.9
7.8
2.4
2.8
4.5
0.8
1.1
3.4
2.5
10.0
17.0
5.2
6.7
2.8
4.9
1.4
2.0
2.3
4.2
7.1
2.6
3.8
1.3
3.9
6.6
-7.4
0.9
1.3
7.1
-2.5
0.9
0.3
0.1
2.0
0.0
-2.3
0.9
- 2.6
- 0.1
1.4
-3.5
3.0
7.3
-3.3
3.4
0.9
5.1
2.3
3.1
3.4
6.2
5.6
5.1
5.6
1.4
7.0
5.1
6.3
6.7
3.5
-1.4
3.1
3fi
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.......................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product..........
Gross domestic product
excluding final sales of
computers...................
Food................................
Energy goods and
services.......................
Gross domestic product
excluding food and
energy.........................
Final sales of domestic product
Final sales to domestic
purchasers...........................
37
38
39
40
41
42
43
44
45
46
47
127.239
125.806
127.381
131.213
103.657
122.803
125.964
103.916
128.109
128.485
126.675
132.941
130.076
131.874
136.220
105.255
126.636
130.378
104.556
134.671
134.517
135.383
133.497
130.342
132.232
136.573
105.625
126.721
130.499
104.446
135.400
135.190
136.337
135.174
131.070
133.237
137.704
105.920
126.886
130.637
104.753
137.649
137.612
137.896
137.237
132.879
134.905
139.603
106.296
128.986
133.128
104.758
139.866
140.173
138.722
139.588
134.553
136.967
141.872
107.217
129.868
134.139
104.948
142.632
143.333
139.890
141.107
135.447
138.004
142.967
107.925
130.465
134.776
105.326
144.540
145.179
142.050
48
38.206
34.096
33.465
32.388
31.478
30.688
29.840
49 118.561 122.010 122.316 123.584 124.703 126.052 127.496
50 115.149 119.572 120.284 121.569 122.979 124.814 127.400
51 161.394 171.369 171.305 184.703 194.992 210.365 222.469
52 115.371 118.194 118.437 119.129 119.770 120.421 121.243
53 116.676 119.819 119.984 120.826 121.613 121.951 123.134
54 117.855 121.184 121.376 122.275 123.102 123.482 124.715
55 115.457 120.469 121.143 122.921 125.086 127.311 129.889
56 135.401
139.410 135.717 137.744 140.086 129.829 135.251
5 / 116.243 119.152 119.371 120.074 120.661 121.111 122.008
58 116.710 119.853 120.020 120.856 121.653 122.008 123.204
59 117.101
120.329 120.609 121.798 122.863 124.160 125.543
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
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........................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product...........
Gross domestic product
excluding final sales of
computers....................
Food.................................
Energy goods and
services.......................
Gross domestic product
excluding food and
energy..........................
Final sales of domestic product
Final sales to domestic
purchasers...........................
1.6
0.5
0.4
6.8
2.8
7.8
1.2
6.8
0.0
6.6
3.1
0.7
7.4
4.7
7.7
2.4
9.3
3.4
4.4
2.7
3.1
3.1
2.7
1.9
1.9
1.4
5.5
5.3
6.3
5.1
4.7
6.9
1.4
2.9
-0.5
-0.5
-0.3
4.9
4.7
5.3
-13.9
- 10.8
-14.1
-12.3
- 10.8
-9.7
- 10.6
49
50
51
3.6
2.3
11.3
2.9
3.8
2.4
4.8
2.6
3.7
4.7
24.2
4.4
6.2
4.2
4.3
35.1
35.5
4.7
8.5
25.1
52
53
3.1
3.2
2.4
2.7
1.9
1.5
2.4
2.2
2.6
2.2
1.1
2.8
64
55
3.4
2.8
4.3
1.7
5.3
6.0
2.7
7.2
1.2
2.2
7.3
4.1
8.3
bb
6.9
3.0
-17.4
6.1
7.0
-26.2
17.8
57
58
3.2
3.2
2.5
2.7
1.8
2.4
2.0
1.5
1.5
2.8
2.7
1.2
3.0
4.0
59
3.4
2.8
2.2
4.0
3.5
4.3
4.5
2.0
3.4
3.7
1.5
5.1
4.8
6.3
0.6
1.1
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
2.8
3.0
8.1
6.1
3.9
January 2009
Su r v e y
of
D-13
C u r r e n t B u sin ess
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
Table 1.6.8. Contributions to Percent Change in the Gross Domestic
Purchases Price Index
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
2008
IV
I
Line
III
II
2006
2007
2007
III
2008
IV
I
III
II
Percent change at annual rate:
Gross domestic purchases...
1
3.4
2.8
2.2
4.0
3.5
4.2
4.5
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other..................................
Gross private domestic
investment.............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1 ...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
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.......................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
2
0.02
1.73
-0.14
- 0.02
5
-0.14
-0.14
6
0.01
0.02
0.58
3
4
7
1.84
- 0.11
8
0.21
9
- 0.01
0.58
0.34
- 0.02
10
11
12
0.29
0.20
0.10
0.06
1.29
0.36
1.66
2.88
-0.15
0.05
- 0.11
-0.18
- 0.01
0.56
0.44
-0.04
-0.16
0.13
0.04
1.24
0.29
2.43
- 0.01
-0.03
2.87
- 0.11
-0.04
3.37
-0.04
-0.16
0.08
1.29
0.60
-0.08
-0.07
0.04
0.02
-0.05
0.08
1.30
0.45
- 0.01
1.10
0.68
0.13
1.39
0.32
0.18
1.13
0.29
0.14
0.08
0.06
0.69
0.08
1.69
0.51
0.41
1.03
0.06
1.39
0.25
0.36
0.25
0.02
0.02
1.60
0.34
20
1.36
0.36
0.19
0.13
0.06
0.08
0.34
0.08
0.33
21
22
0.66
23
24
25
0.14
-0.04
-0.05
-0.06
0.00
0.12
0.02
26
-0.07
27
28
29
30
0.04
0.05
0.04
0.05
0.05
31
32
33
34
35
36
0.01
0.02
-0.03
- 0.02
0.03
0.33
0.03
0.07
0.01
0.00
0.02
0.01
0.00
0.01
0.01
0.01
0.01
0.00
0.01
0.00
0.02
0.00
0.02
0.01
0.01
- 0.10
-0.03
0.04
-0.08
0.85
0.27
0.19
0.81
0.23
0.16
0.15
0.62
0.06
0.07
0.06
0.94
0.15
0.14
0.14
0.01
0.01
0.02
- 0.01
- 0.01
0.00
0.01
0.01
0.01
0.00
13
14
15
16
17
18
19
0.10
0.02
0.12
0.04
0.06
0.07
0.42
0.04
0.31
-0.04
0.06
0.07
0.05
0.09
0.41
0.22
0.21
0.11
0.33
0.04
0.43
0.12
0.34
0.20
0.09
0.38
2.02
0.78
0.15
0.10
0.11
0.19
0.28
0.08
0.43
0.16
0.34
0.14
0.14
-0.08
-0.07
-0.03
0.06
0.09
-0.03
0.05
0.18
0.18
0.15
0.03
0.12
0.12
0.27
0.32
0.43
0.26
0.17
-0.08
- 0.10
-0.04
-0.06
0.02
- 0.01
-0.09
-0.07
-0.09
-0.06
-0.09
0.01
- 0.01
0.00
- 0.02
0.02
0.00
0.01
0.02
-0.05
0.04
0.03
0.08
-0.05
0.02
0.00
0.00
0.02
- 0.12
0.02
0.67
0.33
0.32
0.02
0.11
0.23
1
2.8
2.0
4.8
- 0.2
0.9
2.8
2
22.5
15.7
21.1
0.4
-28.0
-13.0
-7.8
3
30.5
14.3
-5.3
-23.5
- 21.8
-2.5
-15.3
2.6
2.2
1.3
5.5
0.1
8.0
6.1
9.1
8
3.7
3.9
3.0
3.1
6.3
4.7
5.1
2.1
-3.1
-4.0
1.5
3.1
2.8
2.8
2.7
2.7
2.6
2.6
- 0.2
21.9
26.0
3.5
3.6
-0.5
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government
Government
enterprises..........
4
5
9
-5.7
2.9
2.9
2.6
2.6
3.6
3.2
Equals: Net national product....
10
3.5
2.0
6.6
0.7
- 1.0
1.5
-3.0
11
12
3.5
3.3
3.7
4.4
1.4
1.5
0.7
4.8
- 0.8
0.7
- 1.0
- 1.6
-0.5
-1.3
- 0.1
-1.7
0.7
1.8
1.1
- 1.2
-0.9
-3.5
-4.3
Addenda:
Gross domestic income 1 ........
Gross national income 2 ..........
Net domestic product...............
Net domestic income 3 ............
6
7
13
14
2.2
0.2
6.4
7.0
3.5
3.5
0.0
2.3
- 0.1
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, 2000=100]
Seasonally adjusted
37
38
39
40
41
42
43
44
45
46
47
0.20
0.08
0.07
0.07
0.07
0.00
0.00
0.57
0.44
0.14
0.58
0.43
0.15
0.56
0.44
0.12
0.79
0.68
0.11
0.01
0.01
0.02
0.08
0.08
- 0.11
-0.05
-0.06
-0.03
-0.03
-0.05
1.15
0.38
0.24
0.23
1.32
0.36
0.29
0.27
0.85
0.19
0.15
0.13
0.01
0.02
0.02
0.06
0.06
0.04
0.04
0.15
0.15
0.00
0.00
0.77
0.72
0.06
0.88
0.96
0.08
0.00
0.00
0.66
0.51
0.15
Line
2006
2007
2007
IV
III
Gross domestic product...........
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government
Government
enterprises..........
2008
I
II
III
1 115.054 117.388 118.425 118.374 118.631 119.460 119.308
2 162.549 188.098 195.771 195.944 180.516 174.333 170.835
3 161.192 184.231
190.305 177.954 167.341 166.304 159.560
4 115.284 117.795
5 121.791 126.321
6 122.731 127.463
7 117.032 120.585
8 116.639 120.211
118.913
126.919
128.093
121.028
120.651
119.302
128.631
129.996
121.844
121.472
119.329
131.133
132.871
122.626
122.253
119.950
133.184
135.137
123.699
123.318
119.901
139.944
143.163
124.775
124.411
9 119.224 122.684 123.145 123.935 124.726 125.837 126.829
Equals: Net national product....
10 114.406 116.652 117.838 118.054 117.763 118.201 117.292
Addendum:
Net domestic product...............
11 114.143 116.187 117.280 117.000 116.966 117.639 116.610
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[Index numbers, 2000=100]
48
-0.16
- 0.12
-0.16
-0.14
- 0.12
- 0.11
- 0.11
Seasonally adjusted
Line
49
50
51
3.51
2.88
0.21
0.52
52
2.63
0.35
0.30
2.39
0.44
0.13
4.16
0.41
1.58
3.63
0.44
2.10
1.66
2.03
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
0.12
0.11
0.20
0.00
Gross domestic product...........
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
1.21
4.35
0.57
1.79
4.61
0.80
1.34
1.85
1.88
2.35
2006
2007
2007
III
Gross domestic product...........
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government
Government
enterprises..........
2008
IV
I
II
III
1 116.676 119.819 119.984 120.826 121.613 121.951 123.134
2 116.618 119.722 119.975 121.060 122.117 123.386 124.803
3 116.794 119.907 120.197
4 116.673 119.815 119.978
5 112.252 114.661 114.879
6 111.504 113.313 113.456
7 116.233 121.816 122.423
8 115.252 120.682 121.268
121.302 122.572 124.018 125.573
120.822
115.095
113.515
123.471
122.286
121.601
114.142
112.213
124.403
123.312
9 121.399 127.796 128.517 129.721 130.151
121.938
113.974
111.821
125.463
124.385
123.117
114.180
111.792
126.994
125.901
131.143 132.751
Equals: Net national product....
10 117.304 120.554 120.708 121.644 122.685 123.099 124.432
Addendum:
Net domestic product...............
11 117.310 120.561 120.717 121.653 122.706 123.122 124.460
D-14
National Data
January 2009
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 (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross domestic product..............
Plus: Income receipts from the rest
of the world.................................
Less: Income payments to the rest
of the world.................................
Equals: Gross national product...
Less: Consumption of fixed capital
Private...........................
Domestic business.....
Capital consumption
allowances.........
Less: Capital
consumption
adjustment.........
Households and
institutions..............
Government....................
General government....
Government
enterprises.............
Equals: Net national product.......
Seasonally adjusted at annual rates
2008
IV
I
II
Line
2
725.4
861.7
898.5
907.4
843.2
822.8
815.6
647.1
759.3
786.3
742.0
705.1
708.9
688.7
4 13,256.6 13,910.0 14,062.8 14,196.6 14,289.0 14,408.3 14,539.6
5 1,623.9 1,720.5 1,731.9 1,758.6 1,778.0 1,803.1 1,898.1
6 1,356.0 1,431.1 1,440.1 1,462.3 1,477.5 1,497.4 1,585.9
7 1,085.5 1,147.0 1,154.4 1,171.4 1,186.1 1,205.6 1,266.0
1,055.5
1,059.4
1,067.2
1,286.0
1,295.2
1,323.6
9
-79.4
-91.5
-95.1
-104.2
100.0
89.6
57.6
10
11
12
270.5
268.0
223.7
284.1
289.4
241.4
285.7
291.8
243.4
290.9
296.3
247.1
291.4
300.5
250.8
291.8
305.7
255.2
320.0
312.1
260.6
13
44.3
48.0
48.4
49.2
49.7
50.5
51.5
14 11,632.7 12,189.5 12,330.8 12,438.0 12,511.1 12,605.2 12,641.6
Less: Statistical discrepancy......
15
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........................
Net interest and
miscellaneous payments
on assets........................
Business current transfer
payments (net)...............
Current surplus of
government enterprises
Wage accruals less
disbursements................
Plus: Personal income receipts on
assets.........................................
Personal current transfer
receipts...........................
16 11,795.7 12,270.9 12,338.6 12,424.1 12,447.6 12,468.6 12,478.8
-163.0
-81.4
-7.8
13.9
63.4
136.6
162.8
17
1,668.5
1,642.4
1,668.3
1,611.1
1,593.5
1,533.3
1,514.8
18
926.4
963.2
965.7
975.3
975.1
988.5
993.8
19
925.5
965.1
966.0
975.3
992.2
995.4
998.4
20
631.2
664.4
663.0
688.1
662.3
683.4
656.6
21
85.4
100.2
102.2
103.1
103.2
102.1
92.1
22
- 8.6
-7.9
-5.5
-6.7
-7.1
-7.7
- 8.0
23
1.3
-6.3
0.0
0.0
0.0
0.0
0.0
24
1,824.8
2 ,000.1
2,030.9
2,056.2
2,054.1
2,052.3
2,055.7
25
1,603.0
1,713.3
1,720.6
1,737.8
1,778.1
1,926.3
1,872.7
Gross domestic product...........
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government
Government
enterprises..........
Equals: Net national product....
Addenda:
Gross domestic income 1 ........
Gross national income 2 ..........
Net domestic product...............
Net domestic income 3 ............
2008
I
IV
II
III
1 11,294.8 11,523.9 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4
2
622.2
719.9
749.3
749.9
690.9
667.2
653.9
3
554.1
633.3
654.1
611.7
575.2
571.6
548.5
4 11,362.3 11,609.8 11,719.9 11,758.3 11,760.9 11,822.2 11,817.3
5 1,446.7 1,500.5 1,507.6 1,527.9 1,557.6 1,582.0 1,662.3
6 1,216.1 1,263.0 1,269.2 1,288.1 1,316.6 1,339.0 1,418.5
7
237.5
238.4
230.5
240.0
241.6
243.7
245.8
194.1
200.7
8
200.0
202.1
203.4
205.2
207.0
9
10
36.5
37.5
37.7
37.9
38.2
38.8
38.5
9,916.8 10,111.5 10,214.3 10,233.0 10,207.8 10,245.7 10,166.9
11 11,434.6 11,591.9 11,632.3 11,609.3 11,593.8 11,615.2 11,580.1
12 11,502.0 11,677.7 11,726.4 11,746.8 11,708.8 11,710.0 11,685.0
13
14
9,849.6 10,025.9 10,120.3 10,096.1 10,093.2 10,151.2 10,062.4
9,988.5 10,093.5 10,126.7 10,084.7 10,041.4 10,040.2 9,931.5
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 o t e . Except as noted in footnotes 1,2 and 3, chained (2000) dollar series are calculated as the product of the chain-type
quantity index and the 2000 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.
Table 1.8.3. Command-Basis Real Gross National Product, Quantity Indexes
Equals: Personal income.............
26 10,993.9 11,663.2 11,730.4 11,872.1 11,960.5 12,152.2 12,159.4
Addenda:
Gross domestic income..............
Gross national income................
Gross national factor income 1....
Net domestic product.................
Net domestic income..................
Net national factor income 2
27
28
29
30
31
32
13,341.4
13,419.7
12,416.5
11,554.4
11,717.5
10,792.5
13,889.0
13,991.4
12,935.9
12,087.1
12,168.5
11,215.5
13,958.4
14,070.6
13,008.2
12,218.6
12,226.4
11,276.3
14,017.4
14,182.7
13,111.1
12,272.6
12,258.8
11,352.5
14,087.4
14,225.6
13,154.4
12,372.9
12,309.5
11,376.4
14,157.8
14,271.7
13,188.7
12,491.3
12,354.7
11,385.6
14,250.0
14,376.8
13,298.9
12,514.8
12,352.0
11,400.9
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.
2007
III
3
1,006.1
2007
III
1 13,178.4 13,807.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8
8
2006
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Gross national product.............
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1 ....................................
Equals: Command-basis gross
national product.....................
Addendum:
Percent change from preceding
period in command-basis
real gross national product...
2008
I
IV
II
III
1 115.284 117.795 118.913 119.302 119.329 119.950 119.901
2 131.369 145.597 150.337 151.448 148.662 150.058 149.930
3 128.521
142.179
146.163
145.463
141.612
138.541
137.696
4 114.857
117.282
118.287
118.404
118.271
118.222
118.065
2.1
5.7
0.4
-0.4
- 0.2
-0.5
5
2.5
1.
Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
Table 1.8.6. Command-Basis Real Gross National Product, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross national product.............
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1 ....................................
2008
IV
I
II
III
1 11,362.3 11,609.8 11,719.9 11,758.3 11,760.9 11,822.2 11,817.3
2
1,942.9
2,153.3
2,223.4
2,239.8
2,198.6
2,219.3
2,217.4
3
1,900.8
2,102.7
2,161.7
2,151.4
2,094.4
2,049.0
2,036.5
Equals: Command-basis gross
national product.....................
4 11,320.2 11,559.2 11,658.3 11,669.8 11,656.8 11,651.9 11,636.5
Addendum:
Terms of trade 2.......................
5
97.832
97.652
97.226
96.051
95.261
92.328
91.843
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit
price deflator for imports divided by 100.
N o t e . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
January 2009
Survey
of
D-15
C u r r e n t B u s in ess
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross domestic income...........................................................................................................
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
1
2
III
13,958.4
14,017.4
14,087.4
14,157.8
14,250.0
7,819.4
6,362.8
6,369.0
6,359.0
7,846.4
6,384.8
6,384.8
6,374.8
8,017.0
6,525.2
6,525.2
6,515.0
8,040.7
6,538.5
6,538.5
6,528.2
8,087.6
6,577.3
6,577.3
6,567.1
10.0
-6.3
1,456.6
10.1
0.0
7,948.3
6,472.8
6,472.8
6,462.5
10.3
10.2
0.0
10.2
0.0
10.2
0.0
1,461.6
1,475.5
1,491.7
1,502.2
1,510.3
1,015.5
1,019.2
1,027.7
1,025.8
1,039.4
1,044.1
53.5
3,414.4
3,419.9
900.1
50.6
3,317.4
3,324.5
915.4
103.2
1,071.7
39.1
50.8
3,325.5
3,333.3
935.8
1,076.9
58.6
50.3
3,270.6
3,278.6
901.0
92.1
1,080.5
68.5
8
9
976.2
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 aftertax 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....................................................................................................................................
10
11
12
Addendum:
Statistical discrepancy....................................................................................................................
II
13,889.0
Taxes on production and imports....................................................................................................
6
7
I
13,341.4
7,440.4
6,035.1
6,033.9
6,024.4
9.5
1.3
1,405.3
3
4
5
2008
IV
0.0
49.7
52.3
3,350.6
3,359.2
813.8
85.4
1,014.7
44.3
3,386.0
3,393.9
899.6
100.2
102.2
1,056.2
40.0
1,063.8
41.8
52.3
3,335.2
3,341.9
936.7
103.1
1,073.8
38.6
1,401.0
468.9
932.1
628.8
1,297.8
450.4
847.4
671.1
1,311.9
451.1
860.8
662.2
1,189.7
433.5
756.3
706.6
1,195.1
402.9
792.1
654.9
1,159.8
406.8
753.0
681.6
1,136.4
393.5
742.9
647.3
176.3
-7.9
137.2
-7.1
71.4
-7.7
95.6
- 8.0
1,720.5
1,431.1
289.4
198.6
-5.5
1,731.9
1,440.1
291.8
49.7
-6.7
23
24
25
303.3
- 8.6
1,623.9
1,356.0
268.0
1,758.6
1,462.3
296.3
1,778.0
1,477.5
300.5
1,803.1
1,497.4
305.7
1,898.1
1,585.9
312.1
26
-163.0
-81.4
-7.8
13.9
63.4
136.6
162.8
13
14
1b
16
17
18
19
20
21
22
102.1
D-16
National Data
January 2009
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
1
2
National income........................................................................................................................
Compensation of employees............................................................................................................
Wage and salary accruals
Government..............
Other.........................
Supplements to wages and salaries................................................................................................
Employer contributions for employee pension and insurance funds............................................
Employer contributions for government social insurance.............................................................
Proprietors’ income with IVA and CCAdj
Farm..........................................
Nonfarm....................................
3
4
5
6
7
8
9
10
2008
IV
I
II
III
11,795.7
12,270.9
12,338.6
12,424.1
12,447.6
12,468.6
12,478.8
7,433.8
6,028.5
1,023.0
5,005.5
1,405.3
956.8
448.5
7,812.3
6,355.7
1,075.2
5,280.5
1,456.6
991.9
464.7
7,839.3
6,377.7
1,080.8
5,297.0
1,461.6
996.5
465.1
7,941.0
6,465.5
1,092.1
5,373.4
1,475.5
1,005.9
469.6
8,009.7
6,518.0
1,109.7
5,408.3
1,491.7
1,015.3
476.4
8,033.5
6,531.3
1,123.4
5,407.9
1,502.2
1,024.4
477.8
8,080.4
6,570.1
1,138.3
5,431.7
1,510.3
1,031.2
479.0
1,014.7
16.2
998.6
1,056.2
44.0
1,012.2
1,063.8
47.4
1,016.4
1,073.8
47.1
1,026.7
1,071.7
41.6
1,030.1
1,076.9
38.0
1,039.0
1,080.5
32.4
1,048.2
Rental income of persons with CCAdj
11
12
44.3
40.0
41.8
38.6
39.1
58.6
68.5
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
13
14
15
16
17
1,668.5
468.9
1,199.6
702.1
497.5
1,642.4
450.4
1,192.0
788.7
403.4
1,668.3
451.1
1,217.3
797.6
419.7
1,611.1
433.5
1,177.6
816.4
361.2
1,593.5
402.9
1,190.6
832.5
358.1
1,533.3
406.8
1,126.5
846.4
280.0
1,514.8
393.5
1,121.3
841.1
280.3
Net interest and miscellaneous payments
18
631.2
664.4
663.0
688.1
662.3
683.4
656.6
Taxes on production and imports.....................................................................................................
19
976.2
1,015.5
1,019.2
1,027.7
1,025.8
1,039.4
1,044.1
Less: Subsidies.................................................................................................................................
20
21
22
49.7
52.3
53.5
52.3
50.6
50.8
50.3
100.2
31.9
61.4
6.9
102.2
32.5
61.5
103.1
33.1
62.1
103.2
32.2
63.0
102.1
32.4
63.6
92.1
41.5
46.4
4.2
Business current transfer payments (net).......................................................................................
To persons (net)..............................................................................................................................
To government (net).........................................................................................................................
To the rest of the world (net)............................................................................................................
23
24
85.4
24.9
57.9
2.5
8.1
8.0
8.0
6.1
Current surplus of government enterprises....................................................................................
25
-8.6
-7.9
-5.5
-6.7
-7.1
-7.7
-8.0
Cash flow:
Net cash flow with IVA and CCAdj...................................................................................................
Undistributed profits with IVA and CCAdj.....................................................................................
Consumption of fixed capital........................................................................................................
Less: Inventory valuation adjustment...............................................................................................
Equals: Net cash flow......................................................................................................................
26
27
28
29
30
1,390.3
497.5
892.8
-39.5
1,429.8
1,348.7
403.4
945.3
-51.2
1,399.9
1,371.4
419.7
951.8
-31.0
1,402.5
1,326.9
361.2
965.7
-74.1
1,401.0
1,337.0
358.1
978.8
-109.4
1,446.3
1,276.5
280.0
996.5
-154.0
1,430.5
1,319.6
280.3
1,039.4
-90.9
1,410.5
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..............................................................................................
Corporate profits with IVA............................................................................................................
Profits before tax (without IVA and CCAdj)..............................................................................
Taxes on corporate income..................................................................................................
Profits after tax (without IVA and CCAdj).............................................................................
Net dividends...................................................................................................................
Undistributed profits (without IVA and CCAdj).................................................................
Inventory valuation adjustment................................................................................................
Capital consumption adjustment..................................................................................................
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
1,014.7
16.2
23.3
-7.2
998.6
892.5
-3.8
109.9
44.3
60.7
-16.4
1,668.5
1,834.2
1,873.7
468.9
1,404.8
702.1
702.7
-39.5
-165.7
1,056.2
44.0
51.5
-7.5
1,012.2
893.5
- 6.8
125.5
40.0
56.8
-16.8
1,642.4
1,835.1
1,886.3
450.4
1,435.9
788.7
647.3
-51.2
-192.7
1,063.8
47.4
54.9
-7.5
1,016.4
893.3
-3.9
127.0
41.8
58.6
-16.8
1,668.3
1,866.1
1,897.1
451.1
1,446.1
797.6
648.5
-31.0
-197.8
1,073.8
47.1
54.8
-7.7
1,026.7
907.0
- 10.0
129.7
38.6
55.7
-17.0
1,611.1
1,820.2
1,894.3
433.5
1,460.9
816.4
644.5
-74.1
-209.2
1,071.7
41.6
49.4
-7.8
1,030.1
871.0
-13.5
172.6
39.1
55.9
-16.8
1,593.5
1,641.5
1,750.9
402.9
1,348.0
832.5
515.5
-109.4
-48.0
1,076.9
38.0
45.9
-7.9
1,039.0
881.9
-19.7
176.7
58.6
75.1
-16.5
1,533.3
1,596.0
1,750.0
406.8
1,343.2
846.4
496.7
-154.0
-62.7
1,080.5
32.4
40.6
- 8.2
1,048.2
883.5
-10.5
175.2
68.5
89.9
-21.4
1,514.8
1,602.8
1,693.7
393.5
1,300.1
841.1
459.1
-90.9
- 88.0
IVA inventory valuation adjustment
CCAdj Capital consumption adjustment
January 2009
Sur v ey
of
D-17
C u r r e n t B u sin ess
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
2006
2007
7,962.5
892.8
7,069.7
4,876.2
4,013.0
863.3
640.8
1,552.7
95.2
56.5
1,401.0
468.9
932.1
628.8
303.3
1,099.1
8,195.3
945.3
7,249.9
5,110.1
4,223.6
886.5
663.9
1,476.0
100.5
77.8
1,297.8
450.4
847.4
671.1
176.3
1,120.2
8,235.9
951.8
7,284.2
5,125.4
4,236.8
1,137.3
1,071.6
1,114.0
1,071.4
1,037.0
23
24
25
26
27
28
29
30
31
6,863.4
775.2
6,088.3
4,316.8
3,548.2
768.6
591.1
1,180.3
169.6
71.8
939.0
309.3
629.7
474.4
155.3
7,075.1
822.3
6,252.8
4,525.3
3,734.2
791.1
611.9
1,115.5
179.4
321.1
547.0
503.4
43.5
7,098.6
828.1
6,270.6
4,537.2
3,744.2
793.0
614.2
1,119.1
178.8
67.7
872.6
318.9
553.7
492.7
61.0
7,135.5
840.7
6,294.8
4,602.7
3,802.8
799.9
619.5
1,072.6
185.4
67.7
819.5
314.7
504.7
533.0
-28.3
7,119.3
852.6
6,266.7
4,623.0
3,814.8
808.2
617.9
1,025.8
180.5
57.9
787.4
279.8
507.6
494.0
13.6
7,153.1
868.5
6,284.6
4,630.8
3,819.1
811.7
625.6
1,028.2
186.7
58.2
783.2
294.0
489.2
514.2
-25.0
7,257.6
909.8
6,347.8
4,650.4
3,836.3
814.1
628.6
1,068.8
180.9
52.6
835.3
303.7
531.6
498.4
33.2
Corporate business:
Profits before tax (without IVA and CCAdj)..................................................................................
Profits after tax (without IVA and CCAdj).....................................................................................
Inventory valuation adjustment....................................................................................................
Capital consumption adjustment..................................................................................................
32
33
34
3b
1,606.2
1,137.3
-39.5
-165.7
1,541.6
1,091.2
-51.2
-192.7
1,540.7
1,089.6
-31.0
-197.8
1,473.0
1,039.6
-74.1
-209.2
1,352.4
949.5
-109.4
-48.0
1,376.5
969.7
-154.0
-62.7
1,315.2
921.7
-90.9
- 88.0
Nonfinancial corporate business:
Profits before tax (without IVA and CCAdj)..................................................................................
Profits after tax (without IVA and CCAdj).....................................................................................
Inventory valuation adjustment....................................................................................................
Capital consumption adjustment..................................................................................................
36
37
38
39
1,127.4
818.1
-39.5
-149.0
1,091.7
770.7
-51.2
-172.5
1,080.4
761.5
-31.0
-176.8
1,080.6
765.8
-74.1
-187.0
939.6
659.8
-109.4
-42.8
993.3
699.3
-154.0
-56.1
1,006.5
702.7
-90.9
-80.3
Gross value added of nonfinancial corporate business 2......................................................
Consumption of fixed capital3.................................................................................................
Net value added 4...................................................................................................................
40
41
42
6,156.4
686.7
5,469.7
6,243.1
716.9
5,526.2
6,375.1
757.5
5,617.7
6,408.2
789.3
5,618.8
Line
2007
IV
III
1
2
Gross value added of 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
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
13
14
15
Gross value added of financial corporate business 1............................................................
16
Gross value added of nonfinancial 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
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.............................................................................
17
18
19
3
4
b
6
7
8
9
10
11
12
20
21
22
68.1
868.1
2008
888.6
666.4
1,492.4
100.1
80.4
1,311.9
451.1
860.8
662.2
198.6
I
8,207.1
965.7
7,241.4
5,194.4
4,298.0
896.4
672.1
1,374.9
103.6
81.6
1,189.7
433.5
756.3
706.6
49.7
III
II
8,233.3
978.8
7,254.5
5,222.3
4,316.6
905.7
670.4
1,361.8
100.6
66.1
1,195.1
402.9
792.1
654.9
137.2
8,224.4
996.5
7,227.9
5,219.5
4,309.9
909.6
678.8
1,329.6
105.2
64.7
1,159.8
406.8
753.0
681.6
71.4
8,294.5
1,039.4
7,255.2
5,236.7
4,324.5
912.3
682.0
1,336.5
102.5
97.6
1,136.4
393.5
742.9
647.3
95.6
Addenda:
Value added, in billions of chained (2000) dollars
6,271.2
721.0
5,550.3
6,304.4
731.6
5,572.9
6,283.0
744.8
5,538.3
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 2000 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
2006
2007
2007
III
Price per unit of real gross value added of nonfinancial corporate business 1...........................
Compensation of employees (unit labor cost)................................................................................
1
2
2008
IV
I
II
III
1.115
1.133
1.132
1.132
1.133
1.122
1.133
0.701
0.725
0.723
0.730
0.736
0.726
0.726
0.262
0.126
0.108
0.028
0.270
0.132
0.109
0.029
0.270
0.132
0.109
0.029
0.271
0.133
0.109
0.029
0.273
0.136
0.108
0.029
0.272
0.136
0.107
0.029
0.276
0.142
0.106
0.028
8
0.153
0.050
9
0.102
0.139
0.051
0.088
0.139
0.051
0.088
0.130
0.050
0.080
0.125
0.045
0.081
0.123
0.046
0.077
0.130
0.047
0.083
Unit nonlabor cost............................................................................................................................
Consumption of fixed capital............................................................................................................
Taxes on production and imports less subsidies plus business current transfer payments..............
Net interest and miscellaneous payments.......................................................................................
3
4
5
Corporate profits with IVA and CCAdj (unit profits from current production)..............................
Taxes on corporate income.............................................................................................................
Profits after tax with IVA and CCAdj.................................................................................................
7
6
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
D-18
National Data
January 2009
2. Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
1
2
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
Old-age, survivors, disability, and health insurance benefits....................................................
Government unemployment insurance benefits.......................................................................
Veterans benefits..................
Family assistance 1...............
Other....................................
Other current transfer receipts, from business (net).....................................................................
Less: Contributions for government social insurance.......................................................................
23
24
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
2008
IV
I
II
10,993.9
7,432.6
6,027.2
5,004.2
1,023.0
1,405.3
956.8
448.5
1,014.7
16.2
998.6
44.3
1,824.8
1,125.4
699.4
1,603.0
1,578.1
938.9
29.9
39.2
18.3
551.7
24.9
925.5
11,663.2
7,818.6
6,362.0
5,286.7
1,075.2
1,456.6
991.9
464.7
1,056.2
44.0
1,012.2
40.0
2 ,000.1
1,214.3
785.8
1,713.3
1,681.4
999.4
32.3
41.9
18.8
588.9
31.9
965.1
11,730.4
7,839.3
6,377.7
5,297.0
1,080.8
1,461.6
996.5
465.1
1,063.8
47.4
1,016.4
41.8
2,030.9
1,236.2
794.7
1,720.6
1,688.0
1,008.8
32.5
42.1
18.9
585.7
32.5
966.0
11,872.1
7,941.0
6,465.5
5,373.4
1,092.1
1,475.5
1,005.9
469.6
1,073.8
47.1
1,026.7
38.6
2,056.2
1,242.7
813.5
1,737.8
1,704.7
1,009.6
34.3
42.7
19.0
599.2
33.1
975.3
11,960.5
8,009.7
6,518.0
5,408.3
1,109.7
1,491.7
1,015.3
476.4
1,071.7
41.6
1,030.1
39.1
2,054.1
1,224.6
829.5
1,778.1
1,745.8
1,032.4
38.2
44.6
19.2
611.5
32.2
992.2
1,501.6
III
12,152.2
8,033.5
6,531.3
5,407.9
1,123.4
1,502.2
1,024.4
477.8
1,076.9
38.0
1,039.0
58.6
2,052.3
1,208.7
843.6
1,926.3
1,893.9
1,050.0
41.4
44.9
19.3
738.4
32.4
995.4
12,159.4
8,080.4
6,570.1
5,431.7
1,138.3
1,510.3
1,031.2
479.0
1,080.5
32.4
1,048.2
68.5
2,055.7
1,217.4
838.3
1,872.7
1,831.2
1,068.9
59.2
45.7
19.4
637.9
41.5
998.4
Less: Personal current taxes.........
25
1,492.8
10,170.5
1,468.6
10,228.8
1,520.5
10,351.5
1,346.1
26
1,353.2
9,640.7
1,535.0
Equals: Disposable personal income
10,425.5
10,806.0
10,690.7
Less: Personal outlays...................
Personal consumption expenditures................................................................................................
Personal interest payments 2 ..........................................................................................................
Personal current transfer payments
To government..........................
To the rest of the world (net).....
27
28
29
30
31
32
9,570.0
9,207.2
235.4
127.4
76.2
51.1
10,113.1
9,710.2
265.4
137.5
81.2
56.3
10,182.0
9,765.6
278.2
138.1
81.8
56.3
10,309.2
9,892.7
276.7
139.8
82.5
57.3
10,404.9
10,002.3
261.7
140.8
82.9
57.9
10,538.2
10,138.0
253.8
146.4
83.7
62.7
10,559.9
10,163.5
248.9
147.5
84.8
62.7
Equals: Personal saving.................
33
34
70.7
57.4
46.8
42.4
20.6
267.9
130.8
0.7
0.6
0.5
0.4
0.2
2.5
1.2
35
8,407.0
8,644.0
8,671.1
8,683.1
8,667.9
8,891.0
8,689.1
36
37
38
32,222
28,098
299,199
33,667
28,614
302,087
33,820
28,669
302,452
34,138
28,636
303,225
34,309
28,525
303,868
35,485
29,196
304,528
35,016
28,460
305,313
Disposable personal income, current dollars.........................................................................
39
6.4
5.5
5.7
40
3.5
2.8
3.1
4.9
0.6
2.9
-0.7
15.4
10.7
-4.2
Disposable personal income, chained (2000) dollars.............................................................
Personal saving as a percentage of disposable personal income............................................
Addenda:
Disposable personal income:
Total, billions of chained (2000) dollars 3 .....................................................................................
Per capita:
Current dollars........................................................................................................................
Chained (2000) dollars............................................................................................................
Population (midperiod, thousands)..................................................................................................
Percent change from preceding period:
-8.8
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Consists of nonmortgage interest paid by households.
3. Equals disposable personal income 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
2006
2007
2007
III
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
2008
IV
I
II
III
6,027.2
6,362.0
6,377.7
6,465.5
6,518.0
6,531.3
6,570.1
7
5,004.2
1,167.2
731.2
3,837.1
986.7
2,850.4
5,286.7
1,205.4
746.0
4,081.3
1,035.2
3,046.1
5,297.0
1,204.3
743.4
4,092.6
1,035.3
3,057.4
5,373.4
1,218.2
750.2
4,155.3
1,048.3
3,106.9
5,408.3
1,217.7
748.4
4,190.5
1,050.4
3,140.2
5,407.9
1,212.7
745.0
4,195.2
1,048.4
3,146.7
5,431.7
1,217.7
743.6
4,214.0
1,047.4
3,166.6
8
1,023.0
1,075.2
1,080.8
1,092.1
1,109.7
1,123.4
1,138.3
3
4
5
6
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 1997 North American Industry Classification System (NAICS).
January 2009
Su r v e y
of
D-19
C u r r e n t B u sin ess
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
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
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Personal consumption
expenditures..................
Durable goods..........................
Motor vehicles and parts.........
Furniture and household
equipment............................
Other......................................
Nondurable goods.....................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other......................................
Services......................................
Housing...................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other.......................................
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy...........................
2008
IV
I
Line
2.8
2.0
1.0
0.9
1.2
-3.8
4.5
4.8
0.4
3
- 2.6
2.0
2.3
-6.7
- 0.8
-4.3
-10.7
-2.8
-19.7
-14.8
-26.6
4
5
12.1
8.0
8.8
4.8
9.4
3.9
-3.6
1.8
6.3
3.7
4.0
5.9
-2.3
14.0
2.4
- 8.2
-4.6
2.5
1.9
4.7
1.2
0.3
4.4
-3.2
-0.4
1.3
3.0
3.9
4.1
10.9
-7.1
-7.3
-13.3
- 2.0
-1.7
-5.5
4.5
0.8
0.1
10.0
-0.4
0.9
-15.5
-13.4
-12.4
-26.2
2.0
- 6.0
-5.2
-16.1
- 1.8
-6.4
-4.9
-23.7
3.2
-1.7
- 2.0
3.2
-1.5
6.2
0.2
13
14
15
16
17
18
19
2.5
3.2
-0.4
-3.0
1.5
2.6
1.5
2.4
0.7
1.4
2.4
0.5
1.8
1.6
1.1
2.5
0.5
3.9
2.0
2.6
20
21
3.2
2.5
1.9
2.9
4.5
3.2
22
-2.4
23
3.3
7
8
9
10
11
12
2.8
1.8
0.7
1.7
-4.3
7.4
- 11.0
-0.1
0.7
- 8.2
-20.7
1.0
2.1
-3.0
1.3
-0.3
-2.3
2.5
-1.5
2.8
- 0.8
4.0
-0.4
- 0.8
- 2.1
1.7
4.9
-4.7
4.1
1.2
0.2
-0.9
-1.5
- 8.0
-16.0
3.1
2.4
0.8
1.0
1.5
- 2.1
1.9
1.8
1.2
1.9
2.3
3.7
2.4
2.8
2007
2008
IV
III
3.0
0.3
2007
III
II
1
2
6
2006
0.2
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Percent change at annual rate:
Personal consumption
expenditures..................
I
II
III
1
3.0
2.8
2.0
1.0
0.9
1.2
-3.8
2
3
0.52
-0.13
0.54
0.09
0.26
-0.32
0.04
-0.04
-0.47
-0.49
-0.30
-0.90
-1.60
-1.15
4
5
0.51
0.14
0.34
0.36
0.11
0.21
0.16
-0.09
0.07
-0.05
0.55
0.06
-0.35
- 0.11
6
1.06
0.55
0.23
0.72
0.26
0.18
0.35
0.04
0.17
0.08
0.38
- 0.12
-0.11
0.18
0.11
1.13
0.56
0.39
-2.17
-1.04
-0.52
0.03
-0.07
-0.07
-0.26
- 0.20
-0.05
-0.14
-0.28
- 0.20
-0.08
0.46
-0.63
-0.54
-0.09
0.25
- 0.01
0.03
-0.04
0.16
1.53
1.40
0.11
1.44
0.07
0.01
0.12
0.39
-0.03
0.69
- 0.01
- 0.11
0.16
-0.07
0.06
0.84
- 0.20
0.57
0.40
0.25
-0.24
-0.27
0.03
- 0.11
0.49
0.05
-0.05
-0.04
0.22
0.10
0.84
0.17
0.13
-0.47
-0.53
0.07
-0.09
0.44
-0.06
0.03
Percentage points at annual
rates:
Durable goods............................
Motor vehicles and parts..........
Furniture and household
equipment............................
Other.......................................
Nondurable goods.....................
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal...................
Other.......................................
Services......................................
Housing...................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other.......................................
Addenda:
Energy goods and services ’ ....
Personal consumption
expenditures excluding food
and energy..........................
7
8
20
21
-0.07
-0.06
- 0.01
0.36
1.47
0.48
- 0.02
-0.07
0.05
0.08
0.45
0.13
0.35
22
-0.14
0.07
0.01
-0.05
-0.09
-0.55
-1.16
23
2.64
2.46
1.96
0.62
0.78
1.22
-1.62
9
10
11
12
13
14
15
16
17
18
19
0.00
0.02
0.04
0.06
0.07
0.50
0.18
0.45
0.01
- 0.12
0.09
0.03
0.06
0.09
0.63
0.10
0.10
0.02
0.11
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Table 2.3.3. Real Personal Consumption Expenditures by Major
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major
Type of Product, Quantity Indexes
Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2006
2007
2007
III
Personal consumption
expenditures..................
Durable goods...........................
Motor vehicles and parts.........
Furniture and household
equipment............................
O ther......................................
Line
2008
IV
1
II
3 113.304
115.582
114.746
114.513
111.313
105.357
97.517
4
5
189.830
139.314
192.006
142.080
193.857
140.796
194.714 201.210
139.967 140.804
196.934
139.174
6 119.930 122.872 123.182 123.261 123.147 124.317 122.035
Nondurable goods.....................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.......................................
10 104.870 105.007 105.146 104.617 103.243 101.954 98.641
11 78.606 86.464 83.740 84.398 80.774 75.486 69.967
12 125.011 128.976 129.588 129.094 128.514 130.448 130.525
Services......................................
Housing...................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other......................................
13 115.298
14 114.718
15 106.000
16 103.457
17 107.826
18 100.853
19 125.648
20 119.546
21 111.625
Addenda:
Energy goods and services '...
Personal consumption
expenditures excluding food
and energy...........................
7
117.831
120.038
120.080
120.924
121.315
122.534
120.232
8 132.484 138.677 139.942 138.806 139.821 143.488 138.462
9
102.633
103.438
103.330
102.901
101.329
96.137
119.937
117.469
108.001
104.375
110.677
102.628
133.451
124.263
116.714
119.916
117.687
105.716
98.502
111.261
102.026
134.285
123.801
116.768
22 102.973 104.223 104.139 103.913 103.532 101.388
97.073
23
120.507
118.259
116.420
107.959
105.447
109.760
102.731
129.317
124.880
115.218
124.197
118.605
116.501
108.035
105.399
109.932
103.172
129.659
125.479
115.866
124.679
119.020 119.739
116.839 116.978
108.696 109.183
105.540 107.453
110.980 110.404
102.969 103.408
130.943 132.522
125.365 123.860
115.638 116.814
99.664
124.921
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
125.225
125.703
125.048
2007
2007
III
1 119.135 122.456 122.838 123.130 123.395 123.770 122.572
2 137.274 143.908 144.720 144.856 143.284 142.273 136.695
175.831
132.979
2006
III
Personal consumption
expenditures..................
Durable goods............................
Motor vehicles and parts..........
Furniture and household
equipment............................
Other.......................................
Nondurable goods.....................
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal...................
Other.......................................
Services.....................................
Housing...................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other.......................................
Addenda:
Energy goods and services 1,.„
Personal consumption
expenditures excluding food
and energy..........................
2008
IV
I
II
III
1 114.675 117.659 117.969 119.221 120.283 121.544 123.041
2 88.772 87.154 86.938 86.598 86.581 86.237 86.110
3
99.099
98.589
98.737
98.919
98.698
98.382
98.345
4
5
73.331
98.460
69.924
99.421
69.426
99.232
68.445
99.608
68.115
100.809
67.161
102.109
66.716
102.720
6 114.984 118.407 118.682 121.092 123.059 125.021 128.129
7
121.553
90.311
123.007
90.203
8
115.344
91.332
119.682
90.595
120.440
90.114
124.943
89.520
127.519
90.817
9
171.084
185.237
185.479 205.630 218.289 231.457 251.777
10 170.343 184.642 184.912 204.938 216.917 228.625 249.711
11 180.338 192.322 192.164 213.849 235.889 270.125 278.348
12 109.796 111.013 110.946 111.638 112.598 113.027 113.325
13
14
15
16
17
18
19
20
21
120.752 124.712 125.179 126.253
120.281 124.679 125.110 126.086
121.503 124.813 125.018 126.005
141.370 144.797 144.522 146.182
110.042 113.275 113.745 114.354
116.172 119.318 119.935 121.004
122.136 126.601 126.962 128.078
118.532 120.418 120.595 121.833
121.376 125.365 126.145 127.259
127.133 128.450 129.538
126.994 127.623 128.405
127.183 131.604 134.783
148.139 157.995 164.322
115.093 116.476 117.958
122.455 124.768 126.808
128.364 129.127 130.037
122.851 123.699 125.200
128.529 129.950 130.416
22 158.328 167.857 167.880 180.026 188.015 199.763 214.001
23
112.129
114.548
114.797
115.512
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
116.158
116.782
117.481
D-20
National Data
January 2009
Table 2.3.5. Personal Consumption Expenditures by Major
Type of Product
Table 2.3.6. Real Personal Consumption Expenditures by Major
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Personal consumption
expenditures..................
Durable goods...........................
Motor vehicles and parts.........
Furniture and household
equipment............................
Other......................................
Nondurable goods.....................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.......................................
Services......................................
Housing...................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other.......................................
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy..........................
1 9,207.2
2 1,052.1
Seasonally adjusted at annual rates
2008
IV
I
II
Line
Personal consumption
expenditures..................
9,710.2
9,765.6
9,892.7 10,002.3 10,138.0 10,163.5
434.0
1,082.8
440.4
1,086.2
437.9
1,083.0
437.8
1,071.0
424.7
1,059.3
400.6
1,016.2
370.7
4
5
403.5
214.6
415.3
227.0
417.2
231.1
415.3
229.9
415.1
231.3
423.0
235.7
411.2
234.3
6
2,685.2
1,257.4
360.2
2,833.0
1,329.1
374.0
2,846.6
1,337.9
375.4
2,906.2
1,359.8
373.2
2,950.7
1,380.5
375.5
3,026.2
1,416.3
382.4
3,044.6
1,418.4
374.4
336.2
313.8
22.4
731.4
366.9
340.6
26.3
762.9
367.1
341.6
25.5
766.1
405.3
376.7
28.6
767.9
423.7
393.4
30.2
771.1
441.8
409.5
32.3
785.7
463.6
432.7
30.9
788.2
5,794.4
1,460.9
525.7
218.8
306.9
357.0
1,681.1
403.4
1,366.3
5,832.8
1,466.9
526.9
218.3
308.6
360.4
1,690.2
405.9
1,382.5
5,903.5
1,482.7
534.3
20
21
5,469.9
1,388.7
502.4
209.6
292.9
341.2
1,575.8
380.1
1,281.6
313.2
362.9
1,721.9
409.7
1,392.0
5,980.6
1,495.1
541.7
228.1
313.6
368.8
1,746.6
408.2
1,420.2
6,052.5
1,508.8
554.5
236.3
318.1
372.9
1,769.3
412.3
1,434.6
6,102.7
1,520.9
555.8
231.9
323.9
376.8
1,792.9
415.8
1,440.4
Services.....................................
Housing....................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation...............................
Other.......................................
Residual.......................................
22
545.8
585.7
585.4
626.4
651.8
678.1
695.6
Addenda:
Energy goods and services '....
Personal consumption
expenditures excluding food
and energy...........................
7
9
10
11
12
13
14
15
16
17
18
19
23
7,404.0
7,795.3
7,842.3
221.1
7,906.6
7,970.1
8,043.5
2007
III
3
8
2006
8,049.5
Durable goods............................
Motor vehicles and parts.........
Furniture and household
equipment............................
Other.......................................
Nondurable goods.....................
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.......................................
1 8,029.0
2 1,185.1
2007
2008
III
IV
I
II
III
8,252.8
8,278.5
8,298.2
8,316.1
8,341.3
8,260.6
3
437.9
1,242.4
446.7
1,249.4
443.5
1,250.6
442.6
1,237.0
430.2
1,228.3
407.2
1,180.1
376.9
4
5
550.2
218.0
594.0
228.3
600.8
232.9
606.6
230.8
609.3
229.4
629.6
230.8
616.2
228.1
6
2,335.3
1,090.1
394.4
2,392.6
1,110.5
412.9
2,398.6
1,110.9
416.6
2,400.2
1,118.7
413.2
2,397.9
1,122.4
416.3
2,420.7
1,133.6
427.2
2,376.3
1,112.3
412.2
196.5
184.2
12.4
197.9
184.7
13.3
690.5
197.0
183.8
13.4
687.9
194.0
181.4
684.8
190.8
179.1
11.9
695.1
184.1
173.3
666.1
198.1
184.5
13.7
687.3
695.5
20
21
22
4,529.9
1,154.6
413.5
148.3
266.1
293.7
1,290.2
320.7
1,055.9
-53.8
4,646.2
1,171.7
421.2
151.1
270.9
299.2
1,327.8
335.0
1,089.9
-70.7
4,659.8
1,172.5
421.5
151.0
271.3
300.5
1,331.4
336.6
1,096.0
-74.0
4,676.1
1,175.9
424.0
151.2
273.9
299.9
1,344.5
336.3
1,093.9
-74.4
4,704.3
1,177.3
425.9
154.0
272.5
301.2
1,360.8
332.3
1,105.0
-73.6
4,712.1
1,182.3
421.3
149.6
273.2
298.9
1,370.3
333.4
1,104.0
-84.9
4,711.3
1,184.5
412.4
141.2
274.6
297.2
1,378.9
332.1
1,104.6
-78.1
23
344.7
348.9
348.6
347.9
346.6
339.4
325.0
24
6,603.1
6,805.3
6,831.7
6,845.0
6,861.6
6,887.8
6,851.9
7
8
9
10
11
12
13
14
15
16
17
18
19
12.8
11.1
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
N o t e . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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 differ
ence between the first line and the sum of the most detailed lines.
January 2009
Su r v ey
of
D-21
C u r r e n t B u sin ess
3. Government Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
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 world
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
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
3,963.8
2,792.4
1,353.2
976.2
449.7
13.4
925.5
120.4
117.7
2.7
134.2
57.9
76.2
- 8.6
4,118.8
2,081.5
1,611.0
1,581.4
1,578.1
3.3
29.6
376.5
241.6
135.0
49.7
4,177.8
2,948.5
1,492.8
1,015.5
426.3
14.0
965.1
129.5
126.6
2.8
142.6
61.4
81.2
-7.9
4,396.7
2 ,212.0
1,721.3
1,685.0
1,681.4
3.6
36.3
411.1
246.0
165.1
52.3
2008
I
IV
II
III
4,194.4
2,959.7
1,501.6
1,019.2
426.0
13.0
966.0
130.9
128.0
2.9
143.3
61.5
81.8
-5.5
4,218.1
2,973.7
1,520.5
1,027.7
407.7
17.9
975.3
131.3
128.4
2.9
144.5
62.1
82.5
-6.7
4,215.6
2,951.8
1,535.0
1,025.8
375.8
15.3
992.2
132.7
129.7
3.0
145.9
63.0
82.9
-7.1
4,049.9
2,779.2
1,346.1
1,039.4
378.9
14.8
995.4
135.6
132.7
2.9
147.4
63.6
83.7
-7.7
4,150.5
2,893.2
1,468.6
1,044.1
365.2
15.2
998.4
135.7
132.9
4,434.0
2,234.4
1,723.1
1,691.7
1,688.0
3.6
31.5
422.9
255.3
167.6
53.5
4,476.7
2,266.8
1,751.2
1,708.4
1,704.7
3.6
42.8
406.4
235.5
170.9
52.3
4,598.7
2,324.3
1,793.5
1,749.5
1,745.8
3.7
44.0
430.3
259.2
171.1
50.6
4,766.3
2,380.9
1,930.2
1,897.6
1,893.9
3.8
32.6
404.4
232.4
172.0
50.8
4,801.7
2,439.8
1,866.8
1,834.9
1,831.2
3.7
31.9
444.8
278.6
166.2
50.3
2.8
131.2
46.4
84.8
- 8.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27
28
29
-155.0
29.4
-184.4
-218.9
11.9
-230.8
-239.5
4.0
-243.5
-258.6
11.7
-270.3
-383.1
-385.3
-716.4
-14.2
-702.2
-651.2
-46.5
-604.8
Total receipts.......
Current receipts..
Capital transfer receipts
30
31
32
3,996.7
3,963.8
32.9
4,209.3
4,177.8
31.6
4,226.4
4,194.4
32.0
4,250.6
4,218.1
32.5
4,249.8
4,215.6
34.3
4,084.8
4,049.9
35.0
4,183.5
4,150.5
33.0
Total expenditures
Current expenditures
Gross government investment............................................
Capital transfer payments..........
Net purchases of nonproduced assets
Less: Consumption of fixed capilal
33
34
35
36
37
38
4,291.8
4,118.8
426.7
18.1
-3.7
268.0
4,608.7
4,396.7
462.8
28.8
9.7
289.4
4,651.6
4,434.0
469.1
27.0
13.3
291.8
4,700.5
4,476.7
476.1
34.6
9.4
296.3
4,810.0
4,598.7
473.9
34.6
3.3
300.5
4,906.4
4,766.3
492.8
34.6
-81.6
305.7
5,034.8
4,801.7
506.3
34.6
4.4
312.1
Net lending or net borrowing (-).
39
-295.1
-399.4
-425.2
-450.0
-560.2
-821.6
-851.3
Net government saving...........
Social insurance funds......................
Other.........................................................................................
2.2
Addenda:
D-22
National Data
January 2009
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
2006
2007
2007
Current receipts......................
Current tax receipts..........................
Personal current taxes..................
Taxes on production and imports...
Excise taxes.............................
Customs duties.........................
Taxes on corporate income..........
Federal Reserve banks............
Other.......................................
Taxes from the rest of the world....
Contributions for government social
insurance.....................................
Income receipts on assets................
Interest receipts............................
Rents and royalties.......................
Current transfer receipts...................
From business..............................
From persons...............................
Current surplus of government
enterprises...................................
2008
IV
III
Seasonally adjusted at annual rates
I
II
Line
98.0
71.3
26.7
388.9
29.1
359.9
13.4
97.7
68.9
28.8
365.4
34.6
330.8
14.0
98.2
69.4
28.8
365.1
34.4
330.7
13.0
902.4
25.7
18.0
7.7
35.7
19.6
16.0
942.3
29.2
21.9
7.2
37.5
20.5
17.1
943.3
29.8
22.5
7.3
37.6
20.4
17.2
952.3
29.5
13
14
15
16
17
18
-3.6
- 2.2
- 0.2
- 0.8
6
7
8
9
10
11
12
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 world.................
Subsidies.........................................
Less: Wage accruals less
disbursements..............................
19 2,711.6
20
811.8
21 1,568.1
22 1,180.4
23 1,177.1
24
3.3
25
387.7
98.0
68.1
29.9
349.5
33.5
316.0
17.9
21.6
7.9
38.2
20.7
17.5
2,880.5 2,909.2 2,915.6
856.1
869.1
871.6
1,666.7 1,671.4 1,692.5
1,254.2 1,264.1 1,270.1
1,250.6 1,260.5 1,266.5
3.6
3.6
3.6
422.4
412.5
407.3
Current receipts......................
Current tax receipts..........................
Personal current taxes..................
95.8
94.7
96.9
Income taxes............................
Other........................................
66.8
67.5
66.1
29.4
Taxes
on production and imports...
29.0
28.6
324.4
322.5
313.4
Sales taxes...............................
32.9
28.5
31.6
Property taxes..........................
289.6
296.0
281.7
Other........................................
15.3
14.8
15.2
Taxes on corporate income...........
Contributions for government social
968.9
971.8
974.5
insurance.....................................
29.9
31.7
32.4
Income receipts on assets................
21.7
22.4
21.9
Interest receipts............................
8.2
9.8
10.1
Dividends.....................................
39.4
40.0
22.4
21.7
Current transfer receipts...................
22.0
4.3
17.7
18.0
18.1
Federal grants-in-aid.....................
From business (net)......................
-0.5
- 0.6
- 0.1
From persons................................
Current surplus of government
3,003.2 3,128.4 3,139.8
enterprises....................................
898.0
918.2
954.2
1,729.2 1,860.1 1,794.9
Current expenditures.............
Consumption expenditures...............
1,305.3 1,443.1 1,376.5
1,301.7 1,439.4 1,372.7
Government social benefit payments
3.7
3.8
3.7
to persons.....................................
418.4
423.9
417.0
Interest payments.............................
Subsidies.........................................
384.4
379.9
386.6
Less: Wage accruals less
44.0
32.6
31.9
disbursements..............................
329.4
302.3
342.6
Net state and local
158.3
130.3
176.4
government saving.............
171.1
166.2
172.0
Social insurance funds......................
48.2
46.6
47.8
Other................................................
26
27
28
29
30
31
358.0
29.6
282.3
147.3
135.0
49.4
376.3
36.3
312.6
147.5
165.1
45.2
375.9
31.5
323.9
156.3
167.6
44.8
379.6
42.8
306.4
135.5
170.9
45.1
32
0.0
0.0
0.0
0.0
0.0
0.0
0.0
saving..................................
Social insurance funds.....................
Other...............................................
33
34
35
-201.1
22.9
-224.1
-229.3
6.4
-235.7
-244.3
-1.4
-242.9
-236.3
6.4
-242.7
-330.7
-3.2
-327.5
-649.6
-19.8
-629.8
-547.6
-52.1
-495.5
Total receipts..............................
Current receipts........................
Capital transfer receipts............
3b
3/
38
2,538.3
2,510.4
27.8
2,677.7
2,651.2
26.5
2,691.7
2,664.9
26.9
2,706.6
2,679.2
27.4
2,701.7
2,672.5
29.2
2,508.7
2,478.8
29.8
2,619.9
2,592.1
27.8
Total expenditures......................
Current expenditures................
Gross government investment...
Capital transfer payments.........
Net purchases of nonproduced
assets...................................
Less: Consumption of fixed
capital...................................
39
40
41
42
2,783.2
2,711.6
120.3
70.2
2,973.1
2,880.5
123.2
82.4
3,009.7
2,909.2
124.9
86.0
3,016.3
2,915.6
126.7
89.6
3,095.5
3,003.2
128.5
86.4
3,144.4
3,128.4
138.0
87.5
3,251.0
3,139.8
143.9
93.2
43
-13.3
-1.3
2.2
-1.7
-7.7
-92.6
- 6.6
44
105.6
111.8
112.5
113.9
115.0
116.9
119.2
45
-244.9
-295.4
-318.0
-309.6
-393.8
-635.8
-631.0
Net lending or net borrowing (-)
2007
2007
2008
III
1 2,510.4 2,651.2 2,664.9 2,679.2 2,672.5 2,478.8 2,592.1
2 1,550.2 1,644.5 1,654.4 1,660.0 1,634.9 1,436.0 1,563.0
3 1,049.9 1,167.3 1,178.1 1,194.7 1,201.2
999.8 1,139.7
4
5
2006
III
IV
I
II
III
1 1,811.4 1,902.8 1,905.5 1,918.4 1,922.9 1,955.4 1,944.9
2 1,242.2 1,304.1 1,305.3 1,313.7 1,317.0 1,343.3 1,330.2
3
4
5
6
7
8
9
10
11
12
13
14
IS
16
17
18
19
303.3
277.0
26.3
878.2
421.5
369.6
87.1
60.7
23.1
94.7
80.6
2.7
11.4
456.5
358.0
38.3
60.2
325.4
298.3
27.1
917.8
436.5
390.9
90.3
60.9
323.5
296.3
27.2
921.0
438.4
393.6
89.1
60.9
325.8
298.4
27.5
929.7
439.8
398.3
91.5
58.2
333.7
306.7
27.0
929.9
438.5
401.5
89.9
53.3
346.4
319.0
27.4
942.4
436.9
403.8
101.7
54.5
329.0
301.3
27.6
949.4
440.2
405.9
103.4
51.9
22.8
22.8
101.1
22.9
101.8
23.6
103.9
85.2
2.9
13.0
481.6
375.9
41.1
64.6
85.9
2.9
13.0
485.9
379.6
41.3
65.0
23.3
102.9
87.0
3.0
23.9
103.2
87.3
100.3
84.6
2.8
12.8
481.3
376.3
40.9
64.1
12.8
486.4
379.9
41.4
65.2
88.2
2.9
12.9
491.8
384.4
41.6
65.8
2.8
13.1
495.4
386.6
42.1
66.8
20
-5.0
-5.3
-5.9
- 6.6
-7.9
21 1,765.3 1,892.4 1,900.7 1,940.7 1,975.3 2,022.3 2,048.5
22 1,269.6 1,355.9 1,365.3 1,395.2 1,426.3 1,462.7 1,485.7
-5.7
-7.1
23
24
25
401.0
94.3
0.4
430.8
98.5
7.1
427.6
99.1
438.3
458.4
102.1
7.3
444.2
100.9
4.0
454.5
8.8
3.0
102.2
2.2
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
?7
?a
?9
46.2
6.5
39.7
10.4
5.5
4.9
4.7
5.4
- 0.6
-22.3
5.3
-27.6
-52.4
5.4
-57.8
-66.9
5.5
-72.4
-103.6
5.6
-109.2
Total receipts...............................
Current receipts........................
Capital transfer receipts............
30
31
32
1,868.6
1,811.4
57.2
1,961.5
1,902.8
58.7
1,969.6
1,905.5
64.1
1,978.6 1,979.8
1,918.4 1,922.9
56.9
60.1
Total expenditures......................
Current expenditures................
Gross government investment...
Capital transfer payments.........
Net purchases of nonproduced
assets...................................
Less: Consumption of fixed
capital..................................
33
34
35
1,918.8 2,065.5
1,765.3 1,892.4
306.3
339.6
2,076.7
1,900.7
344.2
2,118.9 2,146.2 2,199.3 2,229.0
1,940.7 1,975.3 2,022.3 2,048.5
349.4
354.9
345.3
362.4
100.0
Addenda:
Net lending or net borrowing (-)
2,013.5 2,008.7
1,955.4 1,944.9
58.1
63.8
37
9.6
11.0
11.1
11.2
11.1
11.0
11.0
38
39
162.3
177.6
179.3
182.4
185.5
188.8
192.9
-50.2
-104.0
-107.2
-140.3
-166.3
-185.8
-220.3
January 2009
Su r v e y
of
D-23
C u r r e n t B u sin ess
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
2006
Line
2007
2007
III
Seasonally adjusted at annual rates
II
I
2006
Line
2008
IV
2007
2007
III
III
2008
IV
II
I
III
Percent change at annual rate:
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
1
2
3
4
5
6
Federal..........................................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
7
Nondefense..............................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
State and local..............................
Consumption expenditures.........
Gross investment........................
Structures...............................
Equipment and software
3.8
3.9
3.3
5.1
8.1
2.1
1.9
3.0
3.8
1.7
0.0
1.0
2.3
1.4
1.6
1.7
7.2
7.8
8.2
6.2
8.6
0.2
-0.5
- 1.2
4.7
42.0
- 1.1
1.6
2.5
0.8
1.6
2.1
-1.3
0.8
0.5
2.3
3.1
1.2
2.8
7.4
2.6
1.6
12.8
0.6
34.6
- 1.8
10.2
10.9
5.4
78.1
0.3
2.6
-0.2
- 0.2
1.2
1.7
10.7
0.2
11.8
4.0
8.1
12.1
20
21
22
10.4
- 1.0
- 2.2
11.7
-6.7
1.3
1.7
2.3
1.6
2.0
23
24
25
- 0.2
- 1.8
7.2
3.7
3.6
4.6
1.9
1.5
3.5
3.5
3.4
8
9
10
11
12
National defense.......................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
1.7
13
14
15
7.0
-1.5
7.8
16
17
18
19
3.6
-0.9
-1.4
3.0
94.8
-4.1
1.9
3.2
-3.8
-9.4
7.3
5.8
1.5
0.9
4.7
13.4
9.5
20.7
5.8
5.8
5.9
6.1
5.7
13.8
13.5
15.7
50.1
-*5.1
14.0
7.3
3.4
38.7
60.4
36.6
18.0
17.3
22.7
100.3
16.1
2.9
2.9
5.0
4.0
6.0
4.9
-13.8
8.9
7.3
7.4
6.0
10.2
2.8
11.8
19.6
-3.0
-6.9
20.0
5.1
5.6
1.5
19.4
-4.7
-0.3
1.4
- 6.8
-9.1
4.5
2.5
1.3
- 0.8
1.6
2.1
6.6
3.6
29.4
16.5
31.8
0.4
6.7
3.9
1.2
1.1
7.8
9.0
2.5
2.3
3.4
- 2.6
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 invest
ment (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.
Government consumption
expenditures and gross
investment.........................
Percentage points at annual
rates:
Consumption expenditures 1
Gross investment2 .............
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
1.7
2.1
3.8
0.8
1.9
3.9
2
1.31
0.35
-0.14
0.50
1.56
0.52
0.41
3.25
0.58
0.57
0.01
2.60
-0.67
- 1.10
0.43
1.76
2.18
0.11
0.40
0.41
0.35
0.06
1.17
0.35
0.84
0.46
0.38
0.04
0.34
0.59
0.54
0.05
0.05
2.60
2.46
0.13
-0.18
-0.39
2.09
1.87
0.21
0.22
2.38
1.15
1.23
0.20
0.01
-0.07
0.25
-0.04
- 0.11
0.33
0.11
1.12
4.92
4.19
0.72
0.32
0.41
0.40
0.19
0.61
0.56
0.05
0.03
2.45
2.29
0.17
0.16
-0.22
-0.31
0.09
1.76
1.58
0.18
-0.19
0.36
1.81
0.75
1.06
0.14
0.92
4.33
3.63
0.70
0.24
0.46
0.57
0.40
0.17
-0.03
0.59
0.56
0.20
0.08
-0.05
1.56
0.61
0.95
0.90
0.05
0.87
0.58
0.29
0.35
-0.05
3
4
5
6
7
8
9
10
11
12
13
14
15
0.21
0.00
0.22
0.02
0.01
- 0.11
16
17
18
19
0.44
0.28
0.16
0.04
-0.02
- 0.02
0.04
-0.08
20
21
22
0.12
- 0.01
0.14
0.18
-0.03
0.04
-0.08
0.05
0.07
0.33
0.29
0.04
0.08
-0.03
1.24
0.79
0.44
0.37
0.07
0.99
0.80
0.19
0.09
-0.16
0.73
-0.89
-0.99
0.10
0.10
23
24
25
0.82
0.85
- 0.02
-0.18
0.16
0.00
0.02
1.48
1.02
0.46
0.36
0.10
0.21
0.12
1.01
5.8
4.77
1.02
0.66
0.02
1. Government consumption expenditures are sen/ices (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 invest
ment (construction and software).
2. Grass 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, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
Seasonally adjusted
Line
2008
IV
I
II
1 114.497 116.871 117.642 117.879 118.443 119.594 121.288
2 114.036 116.177 116.911 117.054 117.969 118.584 120.256
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
120.662
106.217
150.355
133.488
130.915
152.854
104.397
163.622
124.513
108.649
157.610
135.628
132.071
163.015
108.456
175.330
126.317
110.258
159.804
140.080
136.324
169.051
120.041
179.636
Federal..........................................
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
National defense.......................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
121.846
108.862
147.731
131.610
129.032
151.035
108.340
160.179
137.694
134.343
163.647
127.851
167.228
140.125
136.773
166.030
110.037
172.794
142.621
137.921
180.174
123.836
186.813
148.643
143.533
189.622
147.324
193.933
National defense.......................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
Nondefense...............................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
16 120.318 120.127 120.506
17 119.305 119.048 119.441
18 128.081 128.357 128.627
19 89.113 92.648 93.662
20 145.967 144.470 144.310
120.614
119.214
131.166
96.374
146.668
121.469
120.061
132.081
100.780
145.551
122.949
121.235
135.821
98.994
152.354
124.473
122.897
136.325
103.471
150.519
Nondefense..............................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
State and local..............................
Consumption expenditures.........
Gross investment........................
Structures...............................
Equipment and software
21 107.642 110.167 110.484
22 107.669 109.828 110.046
23 107.447 111.471 112.188
24 104.247 107.965 108.713
25 123.013 128.636 129.163
110.914
110.478
112.612
108.950
130.667
110.844
110.874
110.632
106.396
132.115
111.517 111.891
111.201 111.509
112.741 113.391
108.713 109.616
132.924 132.051
State and local..............................
Consumption expenditures.........
Gross investment........................
Structures...............................
Equipment and software
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 invest
ment (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.
2007
2007
2008
III
IV
I
II
III
1 127.239 132.941
2 128.804 134.359
3 120.099 126.461
4 136.245 147.467
5 96.777 97.122
6 125.806 130.076
7 129.409 134.215
8 103.802 105.078
9 134.408 141.487
10 99.179 99.751
11 127.381 131.874
12 131.213 136.220
13 103.657 105.255
14 136.094 143.122
15 101.047 102.270
133.497
134.878
127.183
148.712
97.193
130.342
134.490
105.287
142.143
99.908
132.232
136.573
105.625
143.852
102.616
135.174
136.669
128.346
150.761
97.247
137.237
139.047
128.990
151.825
97.371
131.070
135.294
105.586
143.406
100.079
133.237
137.704
105.920
144.374
102.891
132.879
137.386
105.838
144.468
100.223
134.905
139.603
106.296
145.342
103.220
139.588
141.695
130.006
153.179
97.956
134.553
139.241
106.520
144.946
100.926
136.967
141.872
107.217
145.282
104.211
141.107
143.184
131.654
155.763
98.469
135.447
140.187
107.124
146.208
101.441
138.004
142.967
107.925
145.635
104.948
126.636
130.378
104.556
140.686
93.892
126.721
130.499
104.446
141.275
93.622
126.886
130.637
104.753
143.087
93.557
128.986
133.128
104.758
144.225
93.278
129.868
134.139
104.948
145.078
93.299
130.465
134.776
105.326
147.069
93.269
III
3 116.662 120.192 121.141
4 103.300 107.222 108.033
5 143.703 146.140 147.381
6 128.019 130.078 131.772
7 125.637 127.744 129.427
8 145.892 147.570 149.324
9 90.833 97.565 99.244
10 158.638 158.877 160.618
11 132.315 135.596 138.002
12 129.097 132.457 134.826
13 157.208 159.765 162.446
14 93.490 105.467 108.220
15 165.275 166.336 168.967
Federal..........................................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
2006
16
17
18
19
122.803
125.964
103.916
133.556
20 94.779
21 128.109 134.671 135.400 137.649 139.866 142.632 144.540
22 128.485 134.517 135.190 137.612 140.173 143.333 145.179
23 126.675 135.383 136.337 137.896 138.722 139.890 142.050
24 136.359 147.857 149.139 151.244 152.308 153.727 156.413
25 93.009 92.969 92.896 92.756 92.846 93.232 93.744
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 invest
ment (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.
D-24
National Data
January 2009
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and
Gross Investment, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investment2..............
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..........
Seasonally adjusted at annual rates
2008
IV
I
II
Line
462.8
299.4
163.5
469.1
304.1
165.0
476.1
310.7
165.5
473.9
305.2
168.6
492.8
315.0
177.8
506.3
325.1
181.3
6
932.2
811.8
120.3
16.2
104.1
979.3
856.1
123.2
18.4
104.9
994.0
869.1
124.9
18.7
106.2
998.3
871.6
126.7
1,026.5
898.0
128.5
1,056.1
918.2
138.0
20.9
117.1
1,098.0
954.2
143.9
23.3
120.6
Federal..........................................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
624.1
544.6
79.5
6.3
73.2
662.2
580.1
82.1
7.5
74.6
317.1
276.0
41.1
10.9
30.3
675.6
591.9
83.7
7.7
76.0
318.3
277.2
41.2
7.9
78.2
723.3
629.0
94.3
8.9
85.4
759.5
659.6
99.9
10.7
89.2
National defense.......................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
326.6
284.2
42.4
332.9
289.2
43.7
338.5
294.5
44.0
12.7
31.3
Nondefense..............................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
9
13
14
15
16
17
18
19
308.0
267.2
40.8
9.9
30.9
20.6
20.0
106.1
679.3
594.7
84.6
9.2
75.4
108.5
319.0
276.9
42.1
11.5
30.6
699.9
613.8
86.1
11.0
12.1
12.0
20
30.2
30.3
31.7
21 1,575.9 1,695.5 1,709.5 1,744.6 1,771.6 1,817.6 1,848.1
22 1,269.6 1,355.9 1,365.3 1,395.2 1,426.3 1,462.7 1,485.7
23
24
25
306.3
250.2
56.1
339.6
281.0
58.6
344.2
285.4
58.8
349.4
290.0
59.4
345.3
285.2
60.1
354.9
294.1
60.7
362.4
301.8
60.7
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 invest
ment (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.
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
426.7
266.5
160.2
10
11
12
2007
III
3
4
5
8
2007
III
1 2,508.1 2,674.8 2,703.5 2,742.9 2,798.1 2,873.7 2,946.1
2 2,081.5 2 ,212.0 2,234.4 2,266.8 2,324.3 2,380.9 2,439.8
7
2006
State and local..............................
Consumption expenditures.........
Gross investment........................
Structures...............................
Equipment and software.........
Residual.........................................
2008
IV
I
II
III
1 1,971.2 2,012.1 2,025.3 2,029.4 2,039.1 2,058.9 2,088.1
2 1,616.0 1,646.3 1,656.7 1,658.8 1,671.7 1,680.4 1,704.1
3
4
5
355.3
195.6
165.5
366.0
203.0
168.3
368.9
204.5
169.8
371.0
206.1
170.2
367.4
6
741.0
627.3
115.9
762.7
646.3
118.7
13.2
106.3
761.7
644.3
14.4
106.0
772.6
653.7
121.5
13.9
108.3
201.1
173.2
379.2
205.7
181.5
785.0
659.5
129.5
14.4
116.0
384.7
208.7
184.1
9
12.1
10
11
12
105.0
752.9
637.8
117.3
13.0
105.1
490.0
415.0
76.7
4.6
72.5
502.1
425.8
78.0
5.2
72.9
511.0
433.5
79.3
5.4
74.1
509.9
431.9
79.9
6.4
73.3
518.9
439.7
81.0
5.5
75.8
528.1
443.4
87.9
81.9
550.4
461.5
92.6
7.3
85.0
250.8
250.4
211.7
39.3
7.7
32.3
251.2
212.4
39.4
7.8
32.2
251.5
39.3
7.4
32.6
256.3
215.6
41.6
259.5
218.5
41.8
241.8
183.5
60.3
-5.1
250.9
190.1
63.1
-4.7
252.5
191.4
63.3
-4.8
253.4
191.8
64.0
-4.6
253.2
213.5
40.5
8.4
32.5
1,266.7
1,017.6
249.0
187.3
64.8
- 6.0
7
8
13
14
15
16
17
18
19
212.2
120.0
212.0
40.2
8.0
20
32.7
21 1,230.2 1,259.0 1,262.6 1,267.5
22
988.2 1,008.0 1,010.0 1,013.9
23
24
25
26
6.2
810.8
680.7
134.3
16.0
118.9
8.2
8.6
34.0
1,274.4
1,020.6
253.7
191.4
65.2
-7.6
33.6
1,278.7
1,023.4
255.2
193.0
64.7
-7.5
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 invest
ment (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 (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
January 2009
Su r v e y
of
D-25
C u r r e n t B u sin ess
Table 3.10.1. Percent Change From Preceding Period in Real Government Consumption Expenditures and
General Government Gross Output
[Percent]
Seasonally adjusted at annual rates
Line
2007
2006
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
1
2
1.6
1.3
3
4
0.6
0.2
6
6
3.1
2.4
5.9
/
8
1.6
9
2.4
-1.5
-0.5
10
11
12
Federal consumption expenditures 1
Gross output of general government
Value added.......................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods................
Nondurable goods..........
Services..........................................................................................................................
Less: Own-account investment4 .............................................................................................
Sales to other sectors............
20
21
22
Defense consumption expenditures 1
Gross output of general government.,
Value added..................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2
Intermediate goods and services purchased 3.....
Durable goods..................................................
Nondurable goods............................................
Services...........................................................
Less: Own-account investment4 ..............................
Sales to other sectors...................................
23
24
25
26
27
28
29
30
31
32
33
Nondefense consumption expenditures 1...............................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Commodity Credit Corporation inventory change........................................................
Other nondurable goods
Services.........................
Less: Own-account investment4
Sales to other sectors.
34
35
36
37
38
39
40
41
42
43
44
45
46
State and local consumption expenditures 1
Gross output of general government
Value added.......................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
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..............................................................................................................
47
48
49
50
51
52
53
54
55
56
57
58
59
60
13
14
15
16
1/
18
19
1.4
1.3
- 0.1
- 1.1
3.5
3.1
8.6
-1.3
3.1
-1.7
- 10.0
0.8
0.9
-0.5
- 1.6
3.0
2.6
8.4
-3.6
2.4
- 2.0
6.7
2.6
2.1
0.6
- 0.2
1.9
1.9
1.3
1.0
3.1
2.8
6.2
2.8
IV
2.1
2.0
2.8
1.6
1.4
2.7
2.2
2.2
2.6
3.5
2.7
7.8
0.9
2.3
-4.1
-1.4
2.6
10.9
2.6
11.8
-1.4
-2.5
0.5
-0.4
3.1
5.2
8.5
4.2
4.7
2.9
1.6
0.0
2.8
4.9
-4.5
7.4
-0.2
-0.4
1.3
0.6
- 1.8
-3.1
-3.8
-8.9
1.7
1.3
0.9
2.0
-1.5
- 0.2
0.7
-2.4
2.4
3.2
2.9
-1.2
- 2.1
1.4
0.9
3.0
- 6.2
5.1
-30.6
-3.6
- 11.2
-58.4
1.7
0.7
- 0.8
4.5
-1.4
-20.3
2.2
1.8
0.5
0.3
7.8
8.3
3.8
4.0
3.1
14.2
32.0
19.6
11.3
4.3
73.5
1.8
2.0
1.6
1.4
2.7
2.8
3.6
3.2
2.6
5.4
1.9
II
3.9
3.9
3.8
3.3
2.5
3.5
4.6
- 2.8
0.9
0.6
I
- 1.6
4.0
-4.1
- 1.1
0.7
- 0.8
5.0
4.3
11.7
2.7
1.9
1.9
2008
2007
III
6.7
20.0
5.3
6.1
21.0
34.4
34.8
17.4
-5.0
264.4
1.7
1.5
3.0
2.9
3.6
-0.7
6.1
-1.5
-1.4
12.2
-15.5
1.5
1.7
1.3
1.2
2.6
2.2
3.2
2.8
1.8
3.7
1.2
0.7
2.8
-6.5
4.6
-49.1
- 1.8
-4.8
-80.4
3.9
6.8
2.1
2.1
2.4
2.2
3.5
1.5
10.3
2.0
4.4
- 10.2
0.5
4.1
2.1
1.6
6.0
5.7
3.7
4.0
2.7
3.6
3.6
4.3
4.6
3.6
2.7
15.7
6.4
0.5
-7.3
8.1
10.8
9.3
7.6
-10.4
-14.4
7.4
7.0
3.1
3.3
2.6
11.6
11.2
3.4
3.4
4.0
4.2
3.5
2.7
16.5
11.5
12.3
10.1
5.8
5.3
3.0
2.9
3.6
8.8
13.3
4.4
10.5
1.0
2.8
13.5
13.7
6.9
7.6
4.3
22.4
20.8
23.1
22.6
4.2
47.1
17.3
17.1
8.6
10.1
4.1
26.9
21.2
11.6
-0.4
-12.7
-39.2
- 10.1
12.3
26.3
28.1
-7.3
-4.1
2.9
2.9
4.9
5.4
5.6
6.7
3.7
3.5
4.8
11.4
15.4
-0.8
- 1.1
1.7
1.4
3.5
-5.3
10.7
- 0.2
1.9
4.0
4.0
4.9
5.2
3.7
2.5
5.2
6.3
-7.7
-15.9
-13.7
5.1
-1.4
- 8.6
10.5
6.4
2.7
-5.1
10.5
- 12.0
9.8
13.7
94.3
1.6
1.4
1.5
1.2
1.3
1.6
1.6
1.1
1.3
1.4
1.4
2.5
1.4
1.3
3.5
3.1
1.6
1.7
1.5
2.6
1.4
2.4
1.9
1.0
2.8
0.6
0.9
1.7
- 10.1
2.5
1.1
0.4
3.4
1.3
0.5
1.5
3.0
2.2
1.8
2.0
2.0
2.7
1.3
3.6
2.0
III
2.1
0.8
2.1
1.2
0.4
6.5
1.4
2.0
2.0
0.2
1.1
1.1
1.6
1.2
1.0
0.4
2.0
2.0
2.0
1.9
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.
D-26
January 2009
National Data
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
Government consumption expenditures 1..........................................................................
Gross output of general government...................................................................................
Value added....................................................................................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods....
Nondurable goods
Services.............
Less: Own-account investment4
Sales to other sectors..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
2008
IV
I
II
III
129.172
135.247
120.430
131.716
113.472
112.458
116.911
116.363
108.634
106.680
120.651
130.834
139.226
121.735
133.300
114.494
113.105
117.054
116.456
109.058
107.042
121.472
130.303
140.611
120.457
132.919
114.684
112.880
117.969
117.287
109.661
107.616
122.253
131.557
142.939
121.092
134.350
111.647
113.481
118.584
117.886
110.322
108.212
123.318
132.046
146.498
121.689
134.503
112.764
113.938
120.256
119.425
111.147
108.994
124.411
134.873
151.148
123.003
137.895
113.053
114.728
127.744
127.251
107.655
105.768
115.096
161.051
154.736
157.686
162.834
108.130
99.992
129.427
129.057
108.030
106.119
115.565
165.505
161.735
165.041
166.528
109.183
112.356
129.032
128.384
108.402
106.369
116.413
162.891
163.740
150.643
165.006
105.986
90.211
130.915
130.172
109.403
107.428
117.186
166.109
167.994
154.043
168.068
103.115
86.760
136.324
135.610
112.424
110.638
119.463
175.885
182.639
164.778
177.064
102.208
98.121
143.533
143.284
112.975
112.532
115.390
195.318
180.427
147.789
205.389
121.296
114.687
114.036
113.501
106.991
105.415
116.639
125.668
127.388
117.172
128.535
109.591
110.483
116.177
115.637
108.403
106.483
120.211
Federal consumption expenditures '..
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....
20
21
22
125.637
125.231
106.857
105.769
111.216
156.793
143.477
156.342
159.115
112.762
101.447
Defense consumption expenditures 1
Grass output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods....................
Nondurable goods..............
Services............................
Less: Own-account investment4
Sales to other sectors....
23
24
25
26
27
28
29
30
31
32
33
129.097
129.245
107.490
107.634
108.009
165.878
140.057
141.326
174.871
140.455
147.916
132.457
132.615
107.989
107.247
111.333
174.466
151.923
145.268
183.437
134.069
158.862
134.826
135.148
108.426
107.690
111.751
180.841
159.259
156.506
188.880
132.967
191.719
134.343
134.289
108.747
107.873
112.518
177.813
161.068
132.219
188.019
131.345
127.489
136.773
136.595
109.583
108.743
113.253
182.777
165.524
136.110
193.245
126.970
112.586
132.071
131.323
110.570
108.630
118.214
167.205
174.220
156.448
168.282
101.174
89.103
137.921
137.740
110.665
109.860
114.231
184.007
171.966
139.410
193.068
123.628
115.894
Nondefense consumption expenditures 1
Gross output of general government
Value added...........................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
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....
34
35
36
37
38
39
40
41
42
43
44
45
46
119.305
118.091
105.759
102.963
120.338
140.031
189.785
119.048
117.634
107.103
103.588
125.857
136.156
191.432
119.441
118.107
107.366
103.790
126.477
137.018
192.949
119.214
117.776
107.832
104.149
127.566
135.177
197.895
120.061
118.612
109.139
105.523
128.451
135.112
198.811
121.235
119.775
110.463
106.867
129.623
135.958
201.337
122.897
121.732
111.472
107.788
131.139
139.666
208.662
195.178
133.542
97.917
81.276
191.742
129.393
94.236
74.060
191.994
130.254
96.490
77.019
194.955
127.656
92.406
74.232
197.377
127.203
90.355
76.115
200.452
128.050
89.184
78.044
194.159
131.091
92.103
92.144
State and local consumption expenditures 1
Gross output of general government
Value added..........................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
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.............................................................................................................
47
48
49
50
51
52
53
54
55
56
57
58
59
60
107.669
108.282
107.046
105.306
121.820
110.600
108.543
111.491
110.307
109.000
110.778
104.864
107.533
120.372
109.828
110.470
108.732
106.797
125.143
113.735
112.493
115.011
113.163
114.845
112.849
105.994
109.117
123.990
110.046
110.718
108.898
106.933
125.559
114.137
113.039
115.471
113.523
115.864
113.173
106.058
109.451
124.511
110.478
111.146
109.346
107.338
126.363
114.528
113.720
116.024
113.797
116.828
113.553
106.200
109.932
124.927
110.874
111.560
109.773
107.722
127.154
114.918
113.888
116.279
114.288
113.749
114.265
106.732
110.481
126.045
111.201
111.920
111.509
112.274
110.581
108.376
129.227
115.466
114.930
116.976
114.703
115.687
115.235
107.801
111.589
126.711
13
14
15
16
17
18
19
110.210
108.078
128.257
115.142
114.468
116.628
114.404
115.566
114.670
107.264
111.033
126.109
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 sen/ices 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.
January 2009
Sur v ey
of
D-27
C u r r e n t B u sin ess
Table 3.10.4. Price Indexes for Government Consumption Expenditures and
General Government Gross Output
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
128.804
128.665
130.843
133.771
115.252
124.888
106.594
140.070
121.891
124.494
128.096
134.359
134.197
136.547
139.519
120.682
130.138
107.355
148.731
126.514
129.105
133.553
134.878
134.699
137.091
140.053
121.268
130.581
107.271
148.662
127.175
129.653
133.942
136.669
136.510
138.142
141.108
122.286
133.528
107.470
158.706
128.109
130.793
135.929
139.047
138.733
139.658
142.722
123.312
136.809
107.837
169.221
129.367
132.347
137.206
141.695
141.173
140.764
143.833
124.385
141.248
108.460
182.830
131.262
133.874
138.369
143.184
142.656
141.853
144.830
125.901
143.315
109.362
185.953
133.120
135.514
139.797
134.215
134.117
142.629
153.196
112.290
123.265
104.642
139.217
123.877
135.161
123.360
134.490
134.391
142.719
153.209
112.580
123.740
104.293
139.896
124.439
135.524
123.434
135.294
135.197
143.022
153.405
113.157
125.078
104.345
148.996
125.043
135.524
124.884
137.386
137.278
145.621
156.846
113.502
126.576
104.337
154.817
126.276
137.738
125.743
139.241
139.123
146.562
157.787
114.427
129.368
104.850
170.131
127.973
138.791
126.775
140.187
140.064
146.879
157.783
115.586
130.958
105.348
171.892
129.715
139.444
127.437
III
Government consumption expenditures 1..........................................................................
Gross output of general government...................................................................................
Value added...
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods
Nondurable goods
Services........
Less: Own-account investment4
Sales to other sectors..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
2008
IV
I
II
III
Federal consumption expenditures 1...............................................................................................
Gross output of general government
Value added......................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3 ....................................................................
Durable goods...............
Nondurable goo ds......
Services.......................
Less: Own-account investment4
Sales to other sectors
20
21
22
129.409
129.318
136.545
145.848
109.674
119.930
104.845
133.758
120.285
130.184
119.313
Defense consumption expenditures 1
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
Intermediate goods and services purchased 3
Durable goods..........................
Nondurable goods.....................
Services...................................
Less: Own-account investment4
Sales to other sectors...........
23
24
25
26
27
28
29
30
31
32
33
131.213
131.190
139.545
151.433
111.114
120.944
106.255
149.576
121.147
132.160
126.570
136.220
136.200
146.218
159.639
114.249
124.212
106.301
156.573
124.706
137.008
132.067
136.573
136.552
146.472
159.797
114.709
124.664
105.956
156.904
125.300
137.669
132.150
137.704
137.682
147.018
160.322
115.297
126.338
106.067
172.884
126.045
137.219
133.879
139.603
139.582
149.545
163.763
115.762
127.603
106.142
180.365
127.053
139.726
135.565
141.872
141.847
150.754
164.975
116.945
130.834
106.740
209.218
128.757
141.220
137.537
142.967
142.939
151.126
164.854
118.414
132.582
107.299
212.474
130.624
141.900
138.448
Nondefense consumption expenditures 1
Gross output of general government.
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
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
34
35
36
37
38
39
40
41
42
43
44
45
46
125.964
125.805
131.334
137.396
105.956
117.819
89.990
130.378
130.200
136.397
143.439
107.265
121.314
87.379
130.499
130.321
136.205
143.232
107.129
121.853
86.995
130.637
130.479
136.086
142.928
107.681
122.386
86.423
133.128
132.929
138.809
146.369
107.725
124.457
85.568
134.139
133.929
139.289
146.901
108.007
126.169
85.170
134.776
134.564
139.510
147.074
108.400
127.367
85.007
117.215
118.890
128.498
114.981
121.338
122.569
133.568
117.891
122.336
123.063
133.703
117.964
124.497
123.343
134.044
119.188
128.643
125.119
136.032
119.503
130.852
126.810
136.750
119.951
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.............................................................................................................
47
48
49
50
51
52
53
54
55
56
57
58
59
60
128.485
128.379
128.464
129.517
120.189
128.245
108.948
141.168
123.229
123.101
128.311
152.756
125.955
116.990
134.517
134.287
134.010
134.707
128.103
134.810
111.263
150.480
128.737
127.627
133.804
162.313
130.111
122.004
135.190
134.904
134.741
135.419
128.950
135.226
111.609
150.258
129.486
128.215
134.202
163.240
130.276
122.418
137.612
137.230
136.102
136.771
130.359
139.295
112.062
160.480
130.707
129.581
136.203
166.002
132.143
124.167
140.173
139.527
137.167
137.751
131.989
143.815
113.079
171.909
131.986
131.002
137.490
168.651
132.719
125.647
143.333
142.275
138.343
138.921
133.193
149.406
113.893
185.162
134.054
132.618
138.655
171.447
133.537
126.388
131.553
128.255
137.382
120.466
145.179
144.043
139.758
140.271
135.026
151.812
115.538
188.561
136.015
134.443
140.102
173.773
134.417
128.096
13
14
15
16
17
18
19
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 sen/ices 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.
D-28
National Data
January 2009
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
2,081.5
2,427.7
1,497.3
1,273.7
223.7
930.3
59.9
238.5
632.0
24.7
321.5
2,212.0
2,579.7
1,583.2
1,341.8
241.4
996.5
64.0
260.3
672.2
26.5
341.2
2,234.4
2,605.4
1,592.8
1,349.4
243.4
1,012.5
65.9
262.9
683.8
26.9
344.2
2,266.8
2,642.5
1,611.3
1,364.2
247.1
1,031.2
811.8
824.6
460.1
360.6
99.5
364.4
36.1
39.6
288.7
4.7
856.1
869.0
484.2
378.8
105.5
384.7
38.9
41.5
304.3
4.7
869.1
883.0
486.2
380.1
106.2
396.8
40.5
43.7
312.6
4.8
9.2
III
Government consumption expenditures 1..........................................................................
Gross output of general government..
Value added...................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3
Durable goods...........................
Nondurable goods......................................................................................................
Services.........................
Less: Own-account investment4
Sales to other sectors.
1
2
3
4
5
6
7
8
9
10
11
12
2008
IV
I
II
III
66.6
68.0
277.7
27.1
348.6
297.7
701.0
26.7
353.7
2,380.9
2,766.3
1,661.0
1,405.8
255.2
1,105.4
70.1
323.2
712.1
27.3
358.1
871.6
883.7
488.9
381.4
107.5
394.8
41.1
42.5
311.2
4.6
7.5
898.0
909.8
502.4
393.9
108.5
407.4
42.1
45.1
320.1
4.6
7.2
918.2
930.2
511.1
400.7
110.4
419.1
43.9
50.4
324.8
4.5
7.5
954.2
967.0
520.7
408.1
112.7
446.3
46.2
53.6
346.4
4.6
8.3
591.9
598.9
316.3
239.1
77.2
282.6
37.6
25.7
219.4
594.7
600.0
318.4
240.3
78.1
281.6
38.0
23.9
219.7
613.8
618.8
326.4
247.4
79.0
292.4
39.1
25.7
227.6
629.0
634.1
332.3
251.8
80.5
301.8
40.9
30.5
230.4
659.6
664.7
340.0
257.8
82.3
324.6
43.1
32.8
248.7
686.8
2,324.3
2,704.7
1,638.0
1,387.2
250.8
1,066.7
2,439.8
2,831.9
1,686.3
1,425.7
260.6
1,145.6
72.9
332.3
740.4
27.7
364.3
Federal consumption expenditures
Gross output of general government.......................................................................................
Value added.........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
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 capital2 ........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods....................
Nondurable goods..............
Services.............................
Less: Own-account investment4
Sales to other sectors.....
8.0
8.2
23
24
25
26
27
28
29
30
31
32
33
544.6
550.3
298.8
226.5
72.3
251.6
33.1
580.1
586.3
314.5
237.9
76.6
271.8
36.0
23.7
2.1
212.1
2.1
2.1
2.0
2.0
2.0
2.0
3.6
4.1
4.9
3.3
3.0
Nondefense consumption expenditures 1
Gross output of general government
Value added...........................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
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,,
34
35
36
37
38
39
40
41
42
43
44
45
46
267.2
274.2
161.4
134.1
27.3
112.9
3.0
17.5
- 0.1
17.6
92.3
276.0
282.7
169.7
140.9
28.9
113.0
2.9
17.8
- 0.1
17.9
92.2
277.2
284.1
169.9
141.0
29.0
114.2
3.0
18.0
284.2
291.0
176.0
146.4
29.6
115.0
3.0
19.5
294.5
302.4
180.7
150.3
30.4
121.7
3.1
19.5
92.5
94.4
2.6
2.6
2.6
2.6
2.6
4.4
4.1
18.0
93.2
2.7
4.2
276.9
283.7
170.5
141.1
29.4
113.2
3.0
18.6
- 0.1
18.6
91.6
3.1
289.2
296.1
178.8
148.9
29.9
117.3
3.0
19.9
-0.3
State and local consumption expenditures 1
Gross output of general government
Value added...........................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
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.............................................................................................................
47
48
49
50
51
52
53
54
55
56
57
58
59
60
1,269.6
1,603.1
1,037.2
913.0
124.1
565.9
23.7
198.9
343.3
19.9
313.5
71.0
142.9
99.6
1,355.9
1,710.7
1,099.0
963.1
135.9
611.7
25.1
218.7
367.9
1,365.3
1,722.3
1,106.6
969.4
137.3
615.7
25.3
219.2
371.2
13
14
15
16
17
18
19
20
21
22
22.0
196.4
0.0
21.8
22.1
333.0
76.2
149.8
107.0
335.0
76.7
150.4
107.8
0.0
20.1
4.1
4.2
4.4
1,395.2
1,758.8
1,122.4
982.8
139.6
636.4
25.6
235.3
375.6
22.5
341.1
78.1
153.3
109.7
1,426.3
1,794.9
1,135.6
993.3
142.3
659.3
25.8
252.6
380.9
1,462.7
1,836.2
1,149.9
1,005.1
144.8
686.3
26.2
272.8
387.3
22.1
22.8
346.5
79.8
154.7
350.7
81.5
156.4
112.7
112.0
3.1
20.8
1.2
19.6
97.8
2.7
5.2
1,485.7
1,864.8
1,165.6
1,017.6
147.9
699.3
26.6
278.7
393.9
23.1
356.1
83.0
158.3
114.8
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.
January 2009
Survey
of
D-29
C u r r e n t B u sin ess
Table 3.10.6. Real Government Consumption Expenditures and General
Government Gross Output, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2007
2007
2006
III
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 investment4
Sales to other sectors
1
2
3
4
5
6
7
8
9
10
11
12
1,616.0
1,886.8
1,144.4
952.1
194.1
744.9
56.2
170.3
518.5
19.8
251.0
1,646.3
1,922.3
1,159.5
961.8
200.0
765.7
59.6
175.0
531.3
20.5
255.5
2008
I
IV
6.6
23
24
25
26
27
28
29
30
31
32
33
415.0
419.5
214.1
149.6
65.1
208.0
31.2
14.7
162.1
2.9
425.8
430.4
215.1
149.0
67.1
218.8
33.8
15.1
170.1
1.5
3.1
433.5
438.7
216.0
149.6
67.3
226.8
35.5
16.3
175.1
1.5
3.7
431.9
435.9
216.6
149.9
67.8
223.0
35.9
13.8
174.3
1.5
2.5
Nondefense consumption expenditures 1...............................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees
Consumption of general government fixed capital2
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..........
34
35
36
37
38
39
40
41
42
43
44
45
46
212.2
218.0
122.9
97.6
25.7
95.8
3.3
14.9
- 0.1
15.0
77.7
211.7
217.1
124.4
98.2
26.9
93.1
3.4
14.7
- 0.1
14.7
75.2
212.4
218.0
124.7
98.4
27.0
93.7
3.4
14.7
212.0
217.4
125.3
98.8
27.3
92.5
3.5
14.9
2.1
2.0
2.0
3.8
3.5
3.6
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..........
Residual..........................................
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
988.2
1,248.7
807.4
705.0
103.3
441.3
1,008.0
1,273.9
820.1
714.9
106.1
453.8
1,010.0
1,276.8
821.3
715.9
106.5
455.4
22.7
145.9
286.7
17.2
249.6
47.0
115.5
Defense consumption expenditures 1
Gross output of general government
Value added................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4 .............................................................................................
Sales to other sectors..................................................................................................
1.6
21.8
22.6
140.9
278.6
16.2
244.3
46.5
113.5
85.1
-3.8
145.4
285.8
17.1
248.9
47.0
115.1
87.7
-4.9
659.5
668.7
348.7
253.9
96.5
324.1
41.9
29.6
253.9
3.3
5.9
680.7
690.5
354.5
258.6
97.5
340.9
43.9
31.2
267.1
3.3
6.5
439.7
443.4
218.3
151.1
443.4
447.1
220.4
152.6
461.5
465.1
225.0
156.4
69.5
244.9
40.2
15.4
190.4
1.4
644.3
653.7
341.9
248.6
95.0
315.7
39.3
28.5
248.9
3.4
646.3
657.1
340.7
248.1
94.3
320.8
38.9
31.2
251.2
3.5
7.4
20
21
22
653.7
662.8
345.0
251.1
95.6
321.9
40.4
29.1
253.6
3.3
5.7
20.2
637.8
647.9
339.5
247.2
93.9
312.1
37.2
29.8
245.7
3.5
13
14
15
16
17
18
19
257.8
20.8
256.4
772.4
62.0
175.0
536.2
627.3
637.6
337.0
247.2
90.8
303.9
34.5
29.6
240.1
3.6
6.7
Federal consumption expenditures 1
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2 ........................................................
Intermediate goods and services purchased 3
Durable goods..........................
Nondurable goods....................
Services..................................
Less: Own-account investment4 .....
Sales to other sectors..........
1,704.1
1,985.3
1,188.8
984.4
207.0
799.5
1,658.8
1,935.9
1,166.5
966.8
202.1
6.0
68.2
68.8
229.2
36.9
14.2
179.2
1.4
230.8
38.3
14.5
179.0
1.4
2.3
2.2
213.5
219.0
126.8
100.1
27.5
92.4
3.5
15.1
0.0
0.0
0.0
14.8
75.7
15.0
74.2
1.9
3.5
15.2
74.0
1.9
3.6
1,013.9
1,281.7
824.7
718.6
107.1
456.9
1,017.6
1,286.5
827.9
721.1
107.8
458.5
88.1
-5.5
III
II
1,680.4
1,959.7
1,180.0
977.4
205.2
782.7
64.6
176.8
542.6
20.4
258.8
1,671.7
1,949.7
1,172.9
972.0
203.4
779.8
63.0
176.0
542.0
1,656.7
1,934.4
1,161.9
963.5
200.7
775.6
61.4
176.9
537.7
20.7
257.0
22.8
22.8
146.6
287.4
17.4
250.5
47.1
116.0
88.4
-5.9
147.0
288.6
16.9
252.0
47.3
116.6
89.2
-6.4
215.6
221.1
128.3
101.3
27.7
93.0
3.6
15.2
- 0.2
15.4
74.5
1.9
3.6
1,020.6
1,290.7
831.2
723.5
108.7
459.4
23.0
147.4
288.9
17.2
252.9
47.5
117.2
89.2
-6.3
66.6
178.7
556.3
20.5
260.6
2.2
218.5
224.7
129.5
102.2
28.0
95.5
3.7
15.7
0.8
14.9
76.2
1.9
4.3
1,023.4
1,294.7
834.0
725.5
109.6
460.7
23.1
147.8
289.7
17.2
254.2
47.8
117.7
89.6
-7.2
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.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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-30
January 2009
National Data
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
2006
2007
2007
III
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 capital2 ................................................................
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 investment4
Sales to other sectors
Gross investment5.....................
Structures..................................
Equipment and software
Aircraft.,
Missiles
Ships...
Vehicles
Electronics and software
Other equipment
1
2
1.6
0.8
3
4
5
2008
I
IV
2.5
10.2
-0.9
10.9
11.8
-1.4
-2.5
0.5
-0.4
- 0.8
4.2
4.7
0.7
6
0.9
-0.5
- 1.6
-2.4
2.6
2.6
7
0.0
0.6
8
3.0
1.9
2.9
9
2.6
3.1
5.2
8.5
4.4
7.4
10
11
12
13
14
15
16
17
18
19
20
21
22
8.4
0.0
20.5
4.9
43.4
16.0
4.3
-3.6
- 2.6
-4.8
-4.4
2.4
8.6
23
24
25
26
27
28
29
-2.5
-4.2
5.9
- 2.2
-16.1
- 2.0
6.7
30
31
32
33
34
35
36
37
38
7.0
-1.5
7.8
1.5
14.5
0.5
30.8
12.4
7.1
2.1
34.4
22.0
-0.9
2.8
2.3
-3.7
7.6
4.9
-3.0
- 0.2
11.8
6.5
50.5
9.6
-4.5
7.4
1.6
12.8
0.6
-5.8
-6.7
- 6.2
20.5
17.4
-5.0
6.0
21.0
34.4
40.9
12.5
108.8
17.8
36.3
31.0
34.8
43.7
96.6
-1.5
17.4
-19.6
16.4
45.8
30.7
106.1
44.5
-5.0
264.4
5.4
78.1
0.3
-30.2
-27.4
- 0.8
7.9
28.0
7.4
1.2
- 1.0
4.5
2.8
-6.5
4.6
27.8
24.6
-45.1
22.3
-15.6
-5.6
-49.1
-59.5
-44.3
-26.2
- 1.8
16.1
-10.4
-15.9
III
II
7.3
7.4
7.0
3.1
3.3
5.7
-1.9
2.6
11.6
11.5
-30.3
-13.4
12.6
3.6
103.6
35.1
12.3
-8.7
68.4
29.6
7.3
18.0
3.4
3.4
4.0
4.2
3.0
6.7
3.5
2.7
16.5
44.9
17.3
17.1
2.6
-1.7
79.6
44.1
-35.9
10.1
28.8
-41.3
12.8
11.6
-0.4
- 1.2
-41.8
-4.8
-80.4
-5.8
28.4
25.4
21.5
-18.0
-6.4
-12.7
-39.2
-7.9
- 12.2
1.5
-27.5
-18.6
- 10.1
12.3
3.0
94.8
-4.1
-42.6
-23.8
40.8
-40.5
12.3
10.4
-45.1
14.0
-36.7
-3.7
-45.0
276.2
35.9
27.7
2.0
6.0
20.2
38.7
60.4
36.6
326.6
127.9
32.1
-6.3
28.3
- 12.2
8.6
10.1
11.9
6.2
4.1
26.9
21.2
26.1
- 1.8
59.1
-20.5
43.2
14.4
26.3
33.9
45.4
1.3
28.1
-3.1
35.3
92.0
40.8
7.1
-19.2
-7.3
-4.1
22.7
100.3
16.1
-4.8
27.1
11.3
70.5
22.0
10.0
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.
January 2009
Su r v e y
of
D-31
C u r r e n t B u sin ess
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, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
III
National defense
consumption
expenditures and gross
investment.........................
Seasonally adjusted
Line
2008
IV
I
II
23
24
25
26
27
28
29
116.703
221.396
224.191
139.546
120.418
140.455
147.916
116.496
247.616
238.770
209.966
131.967
134.069
158.862
120.253
269.408
249.484
235.262
142.822
132.967
191.719
Gross investment5.......................
Structures...................................
Equipment and software.............
Aircraft....................................
Missiles..................................
Ships......................................
Vehicles..................................
Electronics and software........
Other equipment.....................
30
31
32
33
34
35
36
37
38
157.208
93.490
165.275
208.769
161.777
126.521
280.616
159.991
156.208
159.765
105.467
166.336
196.590
150.912
118.700
338.161
187.839
148.332
162.446
108.220
168.967
201.495
138.019
116.372
375.050
196.043
148.340
3 129.245 132.615 135.148 134.289 136.595 137.740 143.284
4 107.490 107.989 108.426 108.747 109.583 110.665 112.975
b 107.634 107.247 107.690 107.873 108.743 109.860 112.532
6 109.510 108.650 109.347 109.072 110.596 111.422 114.603
7 104.423 105.015 104.929 106.078 105.574 107.311 108.925
8 108.009 111.333 111.751 112.518 113.253 114.231 115.390
9 165.878 174.466 180.841 177.813 182.777 184.007 195.318
10 140.057 151.923 159.259 161.068 165.524 171.966 180.427
11 104.230 108.826 113.916 121.127 110.668 121.411 128.654
12 151.557 162.779 164.769 174.092 167.922 169.023 168.256
13
14
15
16
17
18
19
102.704
199.485
232.006
155.322
141.326
131.513
189.747
20 132.409
21 174.871
104.894
268.205
283.075
153.997
145.268
134.493
182.816
142.512
183.437
119.156
282.012
303.451
158.594
156.506
149.686
199.261
144.179
188.880
102.590
296.576
290.827
156.342
132.219
119.399
172.141
133.630
188.019
105.680
299.234
347.384
168.557
136.110
116.718
196.088
142.592
193.245
105.217
346.415
380.609
150.796
139.410
124.341
171.644
146.941
193.068
118.160
327.119
416.337
155.970
147.789
133.764
188.481
147.411
205.389
22 186.497 180.920 173.200 179.790 177.127 185.459 184.017
117.007
258.013
250.721
234.577
124.748
131.345
127.489
163.647
127.851
167.228
175.408
128.943
126.762
329.460
201.794
152.060
124.562
273.010
263.232
223.197
122.697
126.970
112.586
122.029
264.249
264.183
205.930
116.545
123.628
115.894
131.612
311.062
287.765
209.472
110.479
121.296
114.687
166.030
110.037
172.794
156.436
127.727
109.180
458.841
217.863
161.658
180.174
123.836
186.813
224.825
156.938
117.039
451.455
231.853
156.481
189.622
147.324
193.933
222.049
166.632
120.202
515.870
243.649
160.272
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 soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government grass 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 sen/ices 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.
2007
2007
III
III
1 132.315 135.596 138.002 137.694 140.125 142.621 148.643
2 129.097 132.457 134.826 134.343 136.773 137.921 143.533
Consumption expenditures 1......
Gross output of general
government............................
Value added...........................
Compensation of general
government employees...
Military............................
Civilian............................
Consumption of general
government fixed capital2
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 investment4
Sales to other sectors....
2006
National defense
consumption
expenditures and gross
investment.........................
2008
IV
I
II
III
1 127.381 131.874 132.232 133.237 134.905 136.967 138.004
2 131.213 136.220 136.573 137.704 139.603 141.872 142.967
Consumption expenditures 1.....
Gross output of general
government.............................
Value added............................
Compensation of general
government employees...
Military............................
Civilian............................
Consumption of general
government fixed capital2
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 investment4
Sales to other sectors.....
23
24
25
26
27
28
29
124.112
116.087
119.931
127.499
129.071
132.160
126.570
128.472
118.471
124.281
128.907
131.264
137.008
132.067
129.345
118.881
124.727
130.243
132.745
137.669
132.150
130.111
119.296
125.543
131.067
133.180
137.219
133.879
131.279
120.145
125.671
132.695
137.492
139.726
135.565
133.163
120.858
126.466
140.968
146.285
141.220
137.537
134.396
121.971
127.543
149.714
155.475
141.900
138.448
Gross investment5.......................
Structures..................................
Equipment and software.............
Aircraft
Missiles
Ships.
Vehicles
Electronics and software.........
Other equipment.....................
30
31
32
33
34
35
36
37
38
103.657
136.094
101.047
83.937
103.750
128.660
97.210
88.665
107.877
105.255
143.122
102.270
83.714
105.554
134.873
101.514
87.256
109.422
105.625
143.852
102.616
84.300
105.491
135.993
102.265
86.862
109.840
105.920
144.374
102.891
85.813
107.270
135.870
102.260
86.228
110.071
106.296
145.342
103.220
86.308
106.547
138.880
103.023
85.567
110.308
107.217
145.282
104.211
86.313
106.596
145.704
102.781
85.434
111.671
107.925
145.635
104.948
86.371
106.992
150.818
3 131.190 136.200 136.552 137.682 139.582 141.847 142.939
4 139.545 146.218 146.472 147.018 149.545 150.754 151.126
5 151.433 159.639 159.797 160.322 163.763 164.975 164.854
6 158.102 167.465 167.824 168.796 172.162 173.811 173.550
7 138.549 144.559 144.342 144.027 147.599 147.987 148.130
8 111.114 114.249 114.709 115.297 115.762 116.945 118.414
9 120.944 124.212 124.664 126.338 127.603 130.834 132.582
10 106.255 106.301 105.956 106.067 106.142 106.740 107.299
11 107.707 106.086 105.339 104.766 104.673 104.989 105.494
12 110.015 111.246 111.048 111.487 111.892 112.514 112.833
13
14
15
16
17
18
19
109.852
118.628
95.427
106.505
149.576
210.625
119.182
20 111.156
21 121.147
107.944
120.059
95.009
108.362
156.904
225.013
122.886 122.636
114.008 114.297
124.706 125.300
108.860
120.803
95.252
108.127
156.573
224.381
109.107
121.644
94.797
109.049
172.884
266.054
125.172
115.504
126.045
109.075
121.599
94.889
109.213
180.365
286.283
126.868
115.813
127.053
110.131
121.873
95.022
110.818
209.218
366.222
130.288
117.461
128.757
112.701
121.331
95.285
111.991
212.474
372.172
133.627
118.456
130.624
22 120.515 123.754 124.173 125.013 126.567 127.725 129.372
101.886
85.420
112.822
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 soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
sen/ices 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 sen/ices 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.
January 2009
National Data
D-32
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 (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
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 capital2
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 investment4
Sales to other sectors.....
Gross investment5........................
Structures....................................
Equipment and software..............
Aircraft.....................................
Missiles....................................
Ships......................................
Vehicles...................................
Electronics and software.........
Other equipment......................
1
2
Line
2008
IV
624.1
662.2
675.6
679.3
544.6
580.1
591.9
594.7
I
II
699.9
613.8
723.3
759.5
629.0
659.6
586.3
314.5
598.9
316.3
600.0
318.4
618.8
326.4
634.1
332.3
664.7
340.0
5
226.5
154.8
71.6
237.9
162.7
75.2
239.1
164.1
75.0
240.3
164.6
75.7
247.4
170.3
77.2
251.8
173.2
78.6
257.8
177.9
79.9
8
72.3
76.6
77.2
78.1
79.0
80.5
82.3
9
251.6
33.1
271.8
36.0
11.3
4.4
1.5
2.5
7.9
8.3
23.7
282.6
37.6
281.6
38.0
12.5
4.8
1.5
292.4
39.1
11.4
4.6
1.5
324.6
43.1
13.4
4.7
2.8
8.1
2.8
301.8
40.9
12.5
4.7
1.5
3.3
10.6
11.6
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
11.0
4.1
1.5
1.8
6.5
8.2
22.0
11.2
4.1
6.7
196.4
59.0
36.1
24.6
61.7
7.6
7.3
12.2
4.1
7.4
212.1
58.8
37.3
28.1
11.8
4.5
1.7
2.6
8.4
8.5
25.7
13.7
4.4
7.5
219.4
56.5
38.8
30.7
71.4
13.1
8.9
8.5
23.9
13.0
3.9
7.0
219.7
59.1
37.9
29.5
72.2
13.2
7.8
9.6
9.2
25.7
13.6
4.5
7.5
227.6
58.9
40.7
31.4
75.9
12.7
7.9
8.3
30.5
18.6
4.1
7.9
230.4
1.8
3.1
8.7
32.8
20.3
4.6
8.0
248.7
62.2
40.5
30.6
76.6
12.5
62.6
44.1
36.3
84.2
13.5
8.1
2.0
2.1
68.1
11.6
8.1
2.1
2.1
2.0
2.0
8.0
2.0
3.6
4.1
4.9
3.3
3.0
3.1
3.1
79.5
6.3
73.2
13.6
4.5
10.7
5.0
14.3
25.1
82.1
7.5
74.6
83.7
7.7
76.0
13.2
3.9
10.4
7.0
17.2
24.2
84.6
9.2
75.4
11.7
3.7
11.3
86.1
7.9
78.2
10.5
3.7
94.3
8.9
85.4
15.1
4.5
10.0
11.2
6.2
8.7
18.9
26.5
8.5
99.9
10.7
89.2
14.9
4.8
11.9
9.7
12.8
4.3
10.5
6.3
16.6
24.1
17.6
24.9
20.0
21.1
26.0
26.9
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.
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 capital2
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 investment4
Sales to other sectors.....
Gross investment5.......................
Structures...................................
Equipment and software.............
Aircraft....................................
Missiles..................................
Ships.......................................
Vehicles..................................
Electronics and software.........
2008
2007
III
550.3
298.8
7
2007
III
3
4
6
2006
IV
II
I
III
1
2
490.0
502.1
511.0
509.9
518.9
528.1
550.4
415.0
425.8
433.5
431.9
439.7
443.4
461.5
3
4
419.5
214.1
430.4
215.1
438.7
216.0
435.9
216.6
443.4
218.3
447.1
220.4
465.1
225.0
5
7
149.6
97.9
51.7
149.0
97.2
52.0
149.6
97.8
52.0
149.9
97.5
52.5
151.1
98.9
52.3
152.6
99.6
53.1
156.4
102.5
53.9
8
65.1
67.1
67.3
67.8
68.2
68.8
69.5
9
208.0
31.2
218.8
33.8
10.7
4.0
1.4
226.8
35.5
223.0
35.9
11.9
4.3
1.4
2.3
8.5
7.8
13.8
4.8
3.1
229.2
36.9
10.9
4.1
1.4
2.3
230.8
38.3
11.9
4.1
1.4
2.7
244.9
40.2
10.1
11.1
12.2
8.4
14.2
4.7
3.6
6.5
179.2
7.5
14.5
5.0
3.1
6.7
179.0
7.8
15.4
5.4
3.4
6.7
190.4
46.5
31.0
26.2
60.4
9.6
5.8
1.4
48.7
30.4
25.3
60.6
8.9
5.5
1.4
2.3
48.3
32.8
29.8
87.9
92.6
7.3
85.0
17.2
4.5
7.9
9.4
24.6
23.8
-14.0
6
10
11
12
10.2
3.7
1.4
1.5
13
14
15
16
17
18
19
7.7
14.7
5.3
3.4
20
21
162.1
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
6.8
6.0
2.1
8.3
7.7
15.1
5.5
3.3
6.5
170.1
11.2
4.0
1.6
2.2
8.9
7.9
16.3
6.1
3.6
6.6
6.1
175.1
174.3
45.5
30.0
25.8
57.3
47.2
29.2
24.7
57.5
6.0
47.5
29.0
23.7
54.8
9.0
10.1
10.1
5.6
6.2
1.6
1.5
3.1
6.7
1.5
3.7
5.9
1.5
2.5
79.9
6.4
73.3
13.6
3.5
8.3
6.0
3.4
7.2
8.4
19.0
79.3
5.4
74.1
15.6
3.7
7.7
6.9
19.8
20.4
22.0
22.1
22.1
22.6
-8.9
-9.6
-9.5
24.0
- 11.0
49.0
29.1
21.2
51.5
2.9
76.7
4.6
72.5
16.2
4.4
8.3
5.1
16.2
23.2
- 6.6
78.0
5.2
72.9
15.2
4.1
7.8
6.2
2.2
81.0
5.5
75.8
12.1
6.2
81.9
17.4
4.2
7.7
8.3
23.4
23.3
-13.1
12.6
4.1
1.6
2.5
66.0
9.0
5.2
1.4
2.2
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 (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
January 2009
Survey
of
D-33
C u r r e n t B u sin ess
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Current receipts from the rest of the world.............................................................................
Exports of goods and services........................................................................................................
Goods 1...........................................................................................................................................
Durable.
Nondurable
Services 1.
1
2
3
4
5
6
2008
IV
I
II
III
2,206.1
2,524.1
2,613.4
2,667.1
2,664.0
2,746.0
2,784.5
1,480.8
1,032.1
718.2
313.9
448.7
1,662.4
1,149.2
788.7
360.5
513.2
1,714.9
1,181.2
807.6
373.6
533.8
1,759.7
1,213.7
826.4
387.3
546.0
1,820.8
1,256.9
829.2
427.7
563.9
1,923.2
1,343.7
476.9
579.5
1,968.9
1,374.3
882.1
492.1
594.6
861.7
3.0
858.8
349.6
213.2
296.0
898.5
3.0
895.5
367.0
227.5
301.0
907.4
3.0
904.3
351.3
231.3
321.8
843.2
3.0
840.2
283.4
292.0
264.8
822.8
3.0
819.8
254.0
271.1
294.6
815.6
3.0
812.6
257.3
291.5
263.8
866.8
Income receipts
Wage and salary receipts...............................................................................................................
Income receipts on assets
Interest........................
Dividends....................
Reinvested earnings on U.S. direct investment abroad...............................................................
10
11
12
725.4
2.9
722.5
283.6
175.4
263.5
Current payments to the rest of the world...............................................................................
13
2,977.7
3,242.7
3,295.4
3,318.1
3,357.0
3,468.6
3,480.9
Imports of goods and services........................................................................................................
Goods 1 ,
Durable.
Nondurable
Services 1.
14
15
16
17
18
2,238.1
1,882.7
1,127.6
755.1
355.4
2,370.2
1,985.2
1,172.5
812.7
385.1
2,397.5
2,005.4
1,189.5
815.8
392.1
2,456.5
2,060.9
1,181.9
878.9
395.6
2,526.5
2,118.0
1,173.2
944.8
408.5
2,641.4
2,225.5
1,210.6
1,014.9
415.9
2,676.6
2,251.0
1,194.3
1,056.7
425.6
19
647.1
9.5
637.6
466.2
786.3
742.0
10.3
731.7
599.9
121.5
10.3
705.1
708.9
688.7
10.2
10.2
10.2
694.8
536.5
114.4
43.9
698.7
506.5
106.3
86.0
678.5
501.6
97.8
79.1
125.4
57.9
32.4
35.1
118.2
62.7
21.5
34.0
115.6
62.7
20.4
32.5
Income payments
Wage and salary payments
Income payments on assets...........................................................................................................
Interest..
Dividends
Reinvested earnings on foreign direct investment in the United States.......................................
7
8
9
20
21
22
759.3
10.0
10.1
776.2
604.2
92.1
79.9
23
24
102.2
92.5
51.1
19.6
21.8
33.2
119.6
57.3
28.6
33.8
Balance on current account, NIPAs.........................................................................................
25
26
27
28
29
749.3
584.8
95.6
68.9
113.2
56.3
25.9
31.0
-771.6
-718.6
-682.0
-651.0
-693.0
-722.6
-696.5
Addenda:
Net lending or net borrowing (-), NIPAs...........................................................................................
Balance on current account, NIPAs..............................................................................................
Less: Capital account transactions (net) * ...................................................................................
30
31
32
-775.5
-771.6
3.9
-720.4
-718.6
-684.5
-682.0
2.5
-653.3
-651.0
2.3
-695.4
-693.0
2.4
-725.2
-722.6
-699.1
-696.5
2.6
2.6
Current taxes and transfer payments to the rest of the world (net)..............................................
From persons (net)..........................................................................................................................
From government (net)
From business (net)........................................................................................................................
69.2
1.8
111.7
56.3
22.1
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 reclassi
fied from goods to services.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
D-34
National Data
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
January 2009
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
2006
2007
2007
III
Exports of goods and
services..........................
Exports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts................................
Other...................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Exports of services 1 ................
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other.......................................
Imports of goods and
services..........................
Imports of goods 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................................
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 fees.......
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
Line
I
II
8.4
23.0
4.4
5.1
12.3
3.0
9.9
7.5
8.8
- 12.0
4.5
14.3
16.3
8.7
3.7
3
21.8
43.7
5.1
8.0
- 10.8
4
5
5.5
5.6
5.4
16.3
19.6
14.3
7.4
11.2
11.1
6
7.5
9.6
6.3
5.3
-5.4
21.7
29.0
41.9
22.5
8.7
7.4
9.4
7
13.3
8.0
25.3
10.0
-3.6
11.2
4.4
8
18.8
11.4
61.6
17.3
-24.1
-3.2
-3.0
9
3.5
7.9
14.4
18.5
-9.2
10
9.4
12.7
11.0
0.4
2.7
57.4
10.3
5.4
6.4
11
7.4
11.9
27.8
- 2.8
-11.5
4.3
25.9
12
10.9
15.4
5.4
-5.4
16.8
13
14
15
10.5
13.2
7.4
2.4
14.9
14.6
15.4
37.1
15.3
12.7
18.9
28.8
12.8
2.2
12.7
-7.1
0.3
13.4
-15.1
18.9
28.5
-53.3
16
7.2
10.5
25.9
2.7
6.4
3.8
1.4
17
18
19
-12.9
0.5
4.6
5.3
8.5
13.9
-0.5
-12.3
8.9
7.6
7.4
11.4
14.5
4.9
-22.3
34.6
32.4
1.4
46.2
26.7
4.0
-31.2
14.1
27.0
8.4
-5.7
- 0.1
77.3
-0.4
-10.5
-68.4
12.5
- 6.6
1.8
-6.4
23
8.2
4.7
10.0
7.3
-3.1
11.6
8.6
-19.8
8.3
5.2
-44.3
24
6.0
2.2
3.0
-2.3
-0.8
-7.3
-3.5
25
26
6.0
6.1
1.7
1.3
2.4
4.7
-2.6
-7.7
-2.0
-5.2
-7.1
4.7
-4.7
-1.4
27
28
29
30
4.3
9.7
-1.5
-1.9
-3.8
-9.7
3.7
- 2.0
5.6
-5.5
19.9
-13.5
-20.3
-15.0
-25.9
16.5
-17.3
-10.4
-24.2
17.6
-0.4
- 11.8
13.2
-38.1
7.7
7.8
7.6
- 6.6
31
11.2
5.9
6.1
1.6
1.1
8.9
-5.4
32
6.1
15.3
-5.3
-3.3
17.0
3.4
-37.3
33
34
17.3
9.6
9.8
3.6
- 0.2
9.8
9.7
-0.5
6.3
- 2.2
26.0
4.3
-13.1
35
36
37
38
39
40
41
42
43
44
45
46
47
6.8
- 0.1
17.0
8.0
8.2
5.8
7.0
4.4
-0.4
-3.1
7.0
-14.2
24.5
6.3
-7.7
- 2.2
14.8
4.1
- 8.1
17.2
3.5
7.8
1.9
6.0
-3.2
0.6
-0.3
5.3
-6.4
18.5
- 0.8
4.4
-4.1
-1.7
-2.7
4.4
2.6
12.4
1.6
- 11.0
6.4
6.5
6.2
-34.3
-0.9
1.0
11.9
-8.4
-7.4
-13.4
- 0.8
1.8
-7.9
-6.5
-15.2
5.3
- 0.1
5.5
-12.3
8.5
32.9
4.2
11.4
3.9
-3.6
-12.7
8.2
19.7
-4.4
23.2
-8.0
- 21.8
- 11.2
- 21.0
-12.3
5.2
0.5
-7.7
1.8
-25.7
4.3
2.0
7.3
-17.7
3.3
0.2
4.9
-5.4
-11.4
80.9
2.5
2.9
8.5
5.4
7.1
23.2
18.6
47.2
8.7
- 2.1
-18.6
- 2.2
19.7
11.8
15.1
18.6
10.5
4.9
1.5
-7.0
10.1
7.6
8.9
1.7
7.5
2.2
1.1
19.8
7.6
-4.8
5.8
7.7
-4.3
- 0.1
-6.3
3.8
-6.3
4.0
-6.4
17.0
3.7
-18.7
4.0
4.9
-7.1
-1.7
-4.1
48
49
50
11.5
6.5
8.5
51
52
53
54
2.5
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.
2008
IV
I
II
III
Percent change at annual rate:
9.1
11.8
- 6.8
8.6
2007
III
III
1
2
20
21
22
2007
2008
IV
20.1
2006
Exports of goods and
services..........................
1
9.1
8.4
23.0
4.4
5.1
12.3
3.0
2
6.88
0.36
5.26
0.42
15.08
2.01
3.53
-0.69
3.13
0.77
11.11
0.52
2.55
-0.70
1.33
0.62
0.71
1.01
0.39
0.62
3.05
1.36
1.69
1.33
0.72
0.61
2.02
6
-0.37
2.39
5.34
2.57
2.77
1.75
0.52
1.23
7
3.64
2.21
6.69
2.59
-0.95
2.85
1.09
8
0.87
0.58
2.75
0.88
-1.45
-0.16
-0.14
9
0.31
2.46
0.11
-0.25
1.96
0.49
1.15
1.85
0.13
1.53
0.41
3.54
0.01
10
11
0.55
0.85
2.00
- 0.21
-0.84
0.29
1.52
12
0.92
0.62
0.30
0.08
0.94
0.73
1.52
0.02
1.21
13
14
15
1.01
-0.18
- 0.20
0.69
0.52
0.92
0.11
0.51
0.63
-0.60
0.48
1.29
0.63
0.21
16
2.21
3.19
7.96
0.86
1.97
1.19
0.43
17
18
19
-0.13
0.52
- 0.21
1.92
0.47
0.05
-0.29
0.79
0.38
0.25
-0.29
- 0.01
23
-0.18
0.03
0.07
0.17
0.42
1.70
- 0.01
0.02
0.45
-0.03
-0.18
0.26
0.23
1.31
-0.07
-0.79
0.71
0.18
-0.23
0.41
0.95
-0.04
-0.04
0.65
0.13
-0.72
0.38
0.65
-0.63
24
6.0
2.2
3.0
-2.3
-0.8
-7.3
-3.5
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................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
25
26
5.01
0.20
1.46
0.04
2.01
0.16
-2.17
-0.27
-1.65
-0.18
-5.97
0.16
-3.97
-0.05
27
28
29
30
-0.50
-0.71
0.72
-0.38
- 0.10
-0.26
0.21
1.10
-0.28
-1.98
-2.76
-1.04
-1.72
2.28
-2.25
-0.67
-1.58
2.74
-0.03
-0.76
0.73
-8.59
0.92
0.47
0.45
-1.29
31
2.04
1.08
1.12
0.29
0.21
1.52
-0.97
32
0.08
0.20
-0.08
-0.05
0.23
0.05
-0.63
33
34
0.75
- 0.01
1.21
0.40
-0.06
0.26
-0.28
0.96
0.52
-0.56
1.21
0.42
0.46
35
0.78
- 0.01
1.73
-1.26
-0.85
-1.31
- 2.66
36
37
38
39
1.60
0.89
0.71
0.08
1.15
0.76
0.39
-0.64
0.75
-1.39
0.89
1.22
0.70
0.52
-1.30
-1.75
0.45
1.49
1.87
-0.38
0.78
0.59
-0.71
Imports of services 1.................
Direct defense expenditures....
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
40
41
42
43
44
45
46
47
0.95
-0.05
Percentage points at annual
rates:
Exports of goods 1 ....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts...............................
Computers, peripherals, and
parts................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Exports of services 1.................
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
3
4
5
20
21
22
0.12
0.23
0.56
1.85
0.06
2.11
3.57
0.05
0.66
0.82
1.10
1.04
0.93
-2.15
Percent change at annual rate:
Imports of goods and
services..........................
Percentage points at annual
rates:
0.57
0.66
0.16
-0.08
0.91
- 0.02
0.71
-0.06
-0.05
-0.03
0.13
0.03
0.69
-0.09
0.98
- 0.11
- 0.22
-0.14
-0.05
0.00
0.01
0.02
0.01
0.02
0.00
1.01
- 0.11
-0.07
0.17
0.12
- 1.66
-0.14
0.01
0.36
0.00
0.86
-0.18
0.26
0.35
0.12
0.11
0.23
- 0.02
-1.29
-0.33
-0.36
-0.29
-0.36
0.05
0.03
-0.03
0.22
0.80
0.21
0.51
0.00
0.15
-0.07
-0.34
0.61
0.14
0.01
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.
January 2009
Survey
of
D-35
C u r r e n t B u sin ess
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
[Index numbers, 2000=100]
[Index numbers, 2000=100]
by Type of Product
Seasonally adjusted
Seasonally adjusted
Line
2006
2007
2007
III
Exports of goods and
services..........................
Exports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts...............................
Computers, peripherals, and
parts...............................
Other..................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other......................................
Exports of services 1................
Transfers under U.S. military
agency sales contracts........
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
Imports of goods and
services..........................
Imports of goods 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................................
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 fees.......
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
Line
2008
IV
I
II
1 119.937 130.068 133.747 135.189 136.880 140.908 141.943
2 118.407 127.335 130.571 132.219 133.690 138.826 140.079
3 109.575 119.271
126.977 122.992 127.180 129.849 126.180
4 116.095 122.476 124.728 126.975 130.383 138.941 141.863
5 111.896 118.170 120.266 123.461 121.763 132.886 135.281
6 118.774 125.223 127.573 129.234 135.750 142.815 146.043
7 118.027 127.527 130.727 133.894 132.678 136.258 137.745
8 123.828 137.935 144.072 149.937 139.942 138.797 137.757
9 111.415 115.369 117.726 114.931 115.052 128.863 130.555
10 118.331 127.650 130.258 133.690 134.568 137.895 140.039
11 127.051 142.112 148.178 147.116 142.695 144.199 152.742
12 140.127 155.341 158.748 158.849 164.473 170.414 175.616
13 148.146 170.904 174.598 180.181 186.423 192.062 193.125
14 131.414 138.535 141.611 135.949 140.907 147.140 156.648
15 96.059 90.843 88.163 92.062 99.614 106.123 87.711
24 130.815 133.654 134.033 133.254 132.991 130.509 129.367
Imports of goods and
services..........................
98.096
103.534
84.315
125.524
169.177
185.491
108.263
89.332
106.994
89.499
128.079
166.709
185.436
108.749
103.088
106.880
87.045
130.621
168.639
189.916
106.953
77.285
110.083
89.501
128.335
172.160
193.273
106.118
25 132.613 134.921 135.197 134.315 133.654 131.212 129.653
26 137.943 139.687 140.990 138.203 136.368 137.957 137.459
36
37
38
39
158.553
168.057
148.420
107.322
167.794
179.857
154.939
106.881
166.163
180.504
150.899
111.402
168.747
183.369
153.183
100.285
171.012
184.982
156.147
100.600
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................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
40
41
42
43
44
45
46
47
122.153
143.086
85.902
89.388
123.176
123.900
172.108
108.544
127.581
137.224
84.472
86.966
128.657
127.134
193.484
110.284
128.460
134.841
82.413
89.609
130.838
124.638
198.350
109.949
128.185 129.913 127.217 128.249
135.192 130.835 123.016 123.082
84.766 86.503 83.980 84.993
87.672 94.132 88.756 87.528
128.341 129.672 125.470 121.731
120.221 123.500 125.079 145.057
197.937 199.847 200.087 201.324
110.443 109.441 107.269 108.051
Imports of services 1.................
Direct defense expenditures....
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
27
28
29
30
129.889
141.936
117.849
114.958
124.901
128.155
122.231
112.670
128.136
128.092
129.144
107.819
121.051 115.429 115.320 117.475
122.999 119.673 115.967 118.154
119.819 111.806 115.321 117.455
112.011 116.638 103.467 101.727
31 134.054 141.960 143.292 143.846 144.252 147.344 145.299
32
91.980 106.094 106.631 105.750 109.995 110.914
98.700
33 182.230 200.083 198.043 202.660 205.800 218.025 210.478
34 124.561 129.089 131.241 131.086 130.354 131.724 132.308
35 126.012 125.864 128.889 125.174 122.624 118.526 110.056
165.927
175.981
155.176
100.254
169.218
184.064
153.435
105.627
48 119.980 130.213 133.434 136.241 135.479 140.328 142.009
49 116.304 122.542 125.813 125.159 130.919 136.624 137.131
50 110.008 117.787 126.889 120.532 123.936 127.064 124.789
51
52
53
54
119.268
137.423
126.624
135.800
128.309
140.459
127.961
139.177
130.994
142.050
126.487
140.707
133.444
140.490
126.448
138.434
134.709
138.219
127.688
136.179
140.091
139.473
121.248
137.510
141.760
136.912
120.726
136.077
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
parts................................
Computers, peripherals, and
parts................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
75.967
113.135
91.371
121.458
175.606
195.718
91.682
103.511
99.730
82.805
125.616
159.545
178.017
107.650
2007
2007
III
Exports of services 1.................
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other........................................
16 123.826 136.868 141.620 142.570 144.792 146.131 146.640
17 118.002
18 91.579
19 76.961
20 116.982
21 143.172
22 155.451
23 102.595
2006
III
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
2008
IV
1
II
III
1 112.618 116.586 117.018 118.794 121.397 124.560 126.592
2 111.131 115.062 115.382 117.085 119.916 123.456 125.137
3 125.753 147.582 148.198 161.062 180.050 193.041
196.142
4 138.182 148.503 150.077 153.764 160.153 170.957 176.443
5 142.356 151.498 151.688 152.563 157.844 163.036 164.607
6 135.654 146.653 149.020 154.350 161.369 175.337 183.065
7
98.488
98.278
98.065
98.076
98.410
98.790
99.191
8 126.231 131.606 132.100 133.591 135.724 136.905 138.530
9
10
76.890
97.473
71.080
97.268
70.270
97.037
69.745
96.840
67.654
97.263
65.881
97.910
64.124
98.521
11 104.786 105.999 106.045 106.390 106.744 107.184 107.455
12 103.060 105.231 105.456
13 102.557 103.620 103.649
14 103.630 107.233 107.716
15 115.375 120.698 121.210
106.028
103.992
108.607
123.286
106.761
104.782
109.256
126.673
107.639
105.162
110.847
130.764
107.970
106.111
110.317
132.799
16 116.156 120.211 120.905 122.855 124.932 127.211 130.082
17 107.432 109.910 110.418
18 113.595 117.687 118.347
19 138.404 149.360 149.751
20 132.867 137.793 139.936
21 116.633 119.775 119.991
22 111.248 114.840 115.246
23 121.798 126.772 129.132
111.277
120.227
156.826
144.582
121.085
116.587
131.480
111.868 112.553 113.274
121.940
159.669
153.404
122.169
117.291
142.119
123.610
161.357
166.021
123.461
117.885
151.672
126.347
174.462
175.746
124.900
118.949
159.815
24 115.932 120.168 121.200 124.907 128.722 137.136 140.189
25 114.171 118.326 119.274 123.378 127.427 136.387 139.607
26 118.150 127.179 128.386 131.729 136.193 141.977 145.124
27
28
29
30
129.252
128.882
129.072
218.894
136.387
138.711
133.004
244.422
135.648
140.979
129.028
256.269
139.737
140.283
138.118
294.251
149.143
144.953
152.649
320.072
163.340
160.575
165.193
397.641
166.465
163.412
168.601
430.013
31
89.910
90.226
90.435
90.766
90.777
91.795
92.031
32 117.001
122.958 124.449 125.945 127.586 130.173 131.369
33 61.958 58.552 58.342 57.979 56.434 55.893 54.670
34 100.325 102.305 102.635 103.256 104.058 105.850 106.907
35 103.970 105.022 104.945 106.030 107.118 107.641
107.982
36 99.779 101.130 101.301 101.768 102.875
37 97.030 98.070 98.171
98.668 99.344
38 102.892 104.641 104.904 105.327 106.995
39 110.238 113.066 113.147 114.437 116.944
104.003
100.524
108.050
118.809
104.282
100.764
108.380
119.692
140.740
213.891
150.763
153.358
142.827
123.418
120.466
135.544
142.873
217.715
148.065
159.501
149.398
124.857
122.082
136.640
40
41
42
43
44
45
46
47
125.257
160.975
129.724
126.745
127.892
116.537
113.652
122.246
129.928
177.523
139.353
134.939
125.798
119.644
116.559
127.079
131.423
178.906
144.374
136.544
126.360
119.949
117.035
129.132
132.874
190.629
142.452
138.476
129.000
121.043
117.929
129.518
135.377
199.134
145.244
141.005
133.055
122.127
118.934
131.890
48 105.152 106.408 106.322 106.560 107.529 108.520 109.130
49 125.484 136.746 138.173 143.992 151.990 162.407 166.985
50 125.453 148.110 149.362 161.946 180.483 193.981 197.549
51 109.939 112.617 112.871 113.828
52 99.983 101.715 102.039 102.510
53 141.041 150.215 152.422 164.257
54 103.594 105.809 105.867 107.053
115.619
103.430
174.843
109.126
118.478
105.766
197.803
112.067
120.031
106.289
206.845
112.867
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.
January 2009
National Data
D-36
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 (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Exports of goods and
services..........................
Exports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts................................
Other..................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Exports of services 1 ................
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other.......................................
Imports of goods and
services..........................
Seasonally adjusted at annual rates
2008
IV
I
II
Line
1 1,480.8 1,662.4 1,714.9 1,759.7 1,820.8 1,923.2 1,968.9
2 1,032.1 1,149.2 1,181.2 1,213.7 1,256.9 1,343.7 1,374.3
119.7
118.2
3
66.0
84.3
89.9
94.6
109.4
4
5
6
267.3
101.3
166.0
303.1
113.9
189.2
311.6
116.0
195.6
325.0
119.8
205.2
347.6
122.3
225.4
395.4
137.8
257.6
416.7
141.6
275.1
7
415.0
447.4
457.7
468.8
466.2
480.6
487.8
8
75.2
87.3
91.5
96.3
91.3
91.3
91.7
9
10
47.6
292.2
45.5
314.6
45.9
320.3
44.5
328.1
43.2
331.7
47.2
342.1
46.5
349.6
11
107.0
121.0
126.3
125.8
122.4
124.2
131.9
12
13
14
15
129.1
71.0
58.1
47.8
146.1
82.7
63.4
47.3
149.6
84.5
65.1
46.1
150.5
87.5
63.0
48.9
156.9
91.2
65.7
54.4
163.9
94.3
69.6
59.8
169.5
95.7
73.7
50.2
16
448.7
513.2
533.8
546.0
563.9
579.5
594.6
17
18
19
16.3
85.7
13.9
12.8
14.8
107.4
28.8
59.7
89.1
243.4
29.9
63.5
91.9
249.0
117.8
33.0
63.6
94.8
254.4
23
106.0
29.0
55.2
87.3
236.2
19.5
11.2
112.1
46.3
72.2
189.1
17.1
14.6
96.7
25.6
51.6
82.6
223.5
18.7
101.0
22.0
20.8
22.0
20.0
20
21
22
26.1
52.3
87.8
233.6
19.1
11.1
24
2,238.1
2,370.2
2,526.5
2,641.4
2,676.6
25
26
1,882.7
74.9
1,985.2
81.7
2,397.5
2,005.4
83.2
2,456.5
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................................
Other..................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
2,060.9
83.7
2,118.0
85.4
2,225.5
90.1
2,251.0
91.7
27
28
29
30
290.1
161.8
128.3
302.4
294.4
157.2
137.1
331.0
300.4
159.8
140.6
332.1
292.3
152.6
139.7
396.1
297.5
153.4
144.0
448.7
325.5
164.7
160.8
494.5
337.9
170.8
167.1
525.7
31
418.3
444.5
449.7
453.1
454.4
469.3
464.0
36
37
38
39
446.1
243.9
202.3
94.2
478.5
263.8
214.8
96.2
474.7
265.0
209.7
100.4
484.3
270.6
213.8
91.4
481.4
261.4
Imports of services 1.................
Direct defense expenditures....
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
40
41
42
43
44
45
46
47
355.4
31.0
72.1
27.5
65.3
23.8
125.2
10.5
385.1
32.8
76.2
28.5
67.1
25.0
144.4
392.1
32.5
77.0
29.7
68.5
24.6
148.6
395.6
34.8
78.1
29.5
11.1
11.2
48
49
50
718.2
313.9
72.9
788.7
360.5
92.1
807.6
373.6
99.8
826.4
387.3
51
52
53
54
959.2
1,127.6
755.1
1,580.2
1,057.1
1,172.5
812.7
1,654.2
1,081.3
1,189.5
815.8
1,673.3
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
32
28.4
34.4
35.0
35.1
37.0
38.1
34.2
33
34
101.3
288.5
105.2
304.9
103.7
311.0
105.5
312.5
104.2
313.1
109.4
321.9
103.3
326.5
35
256.6
258.9
264.9
260.0
257.3
249.9
232.8
93.4
496.3
276.7
219.6
99.9
502.9
278.7
224.2
95.9
408.5
35.1
81.3
32.2
71.5
24.8
152.1
11.4
415.9
35.5
81.9
33.0
74.2
25.4
154.3
11.5
425.6
36.1
81.4
33.9
75.3
29.8
157.3
11.7
866.8
102.8
829.2
427.7
117.8
476.9
129.8
882.1
492.1
129.9
1,110.9
1,181.9
878.9
1,664.7
1,139.1
1,173.2
944.8
1,669.3
1,213.9
1,210.6
1,014.9
1,731.1
1,244.4
1,194.3
1,056.7
1,725.3
68.6
24.0
149.4
11.3
220.0
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
2006
2007
III
2007
III
Exports of goods and
services..........................
Exports of goods ' ....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts 2..............................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Exports of services 1.................
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
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
parts................................
Computers, peripherals, and
parts 2.............................
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 fees.......
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
2008
IV
I
II
III
1 1,314.8 1,425.9 1,466.2 1,482.1 1,500.6 1,544.7 1,556.1
2
928.7
998.7 1,024.1 1,037.0 1,048.6 1,088.9 1,098.7
3
52.5
57.1
60.8
58.9
60.9
62.2
60.4
4
5
204.1
75.2
129.0
207.8
76.5
131.4
211.6
78.5
133.1
217.2
77.5
139.8
231.5
84.5
147.1
236.4
6
193.4
71.2
122.3
7
421.4
455.3
466.7
478.0
473.7
486.4
491.7
8
59.6
66.3
69.3
72.1
67.3
66.7
66.2
10
299.8
323.4
330.0
338.7
341.0
349.4
354.8
11
102.1
114.2
119.1
118.2
114.7
115.9
122.7
12
13
14
15
125.2
69.2
56.1
41.4
138.8
79.8
59.1
39.2
141.9
81.5
60.4
38.0
142.0
84.2
58.0
39.7
147.0
87.1
60.1
43.0
152.3
89.7
62.8
45.8
157.0
90.2
16
386.3
426.9
441.8
444.7
451.7
455.8
457.4
17
18
19
23
24
15.1
75.5
15.9
34.9
61.9
169.9
14.0
-8.5
13.3
82.2
17.1
37.4
69.0
194.6
14.7
-9.8
9.7
93.2
18.9
36.2
75.9
214.0
12.5
- 12.2
25
1,930.5
26
27
1,649.0
63.4
28
29
30
31
86.1
150.4
q
66.8
37.8
12.6
11.5
13.2
85.3
17.4
37.4
73.1
88.2
88.1
14.8
-9.6
18.5
38.2
72.1
202.7
14.9
-9.2
18.0
38.9
72.9
207.6
14.6
- 8.0
9.9
90.7
18.5
38.2
74.4
211.3
14.5
-8.5
1,972.4
1,978.0
1,966.5
1,962.6
1,926.0
1,909.1
1,677.7
64.2
1,681.1
64.8
1,670.2
63.5
1,662.0
62.7
1,631.6
63.4
1,612.2
63.2
224.4
125.5
99.4
138.2
215.8
113.3
103.1
135.4
221.4
113.3
108.9
129.6
209.2
108.8
199.3
134.6
199.5
105.8
94.3
140.2
97.3
124.4
203.0
104.5
99.1
122.3
32
465.2
492.6
497.3
499.2
500.6
511.3
504.2
33
24.3
28.0
28.1
27.9
29.0
29.3
26.0
34
35
287.6
298.0
303.0
302.7
301.0
304.1
305.5
36
246.8
246.5
252.5
245.2
240.2
232.2
215.6
37
38
39
40
41
42
43
44
45
46
47
48
49
447.1
251.3
196.6
85.4
283.7
19.3
55.6
21.7
51.0
20.4
473.2
269.0
205.2
85.1
296.4
18.5
54.7
468.6
269.9
199.9
88.7
467.9
263.2
205.6
79.8
477.2
275.3
203.3
84.1
482.3
276.6
206.8
80.1
301.8
17.6
56.0
22.9
53.7
20.3
127.9
8.7
-51.0
295.5
16.6
54.3
21.5
52.0
297.9
16.6
55.0
128.1
8.5
-87.3
-84.1
20
21
22
202.8
101.1
102.6
21.1
21.8
-38.4
53.3
20.9
123.9
8.7
-56.1
54.2
20.5
127.0
8.7
-62.2
475.9
274.2
202.9
79.8
297.8
18.2
54.8
21.3
53.2
19.8
126.7
8.7
-58.8
50
51
52
683.0
250.2
58.1
741.2
263.6
62.2
759.6
270.6
67.0
775.5
269.2
63.6
771.2
281.6
65.4
798.8
293.9
67.1
808.4
295.0
65.9
53
54
55
56
872.5
1,127.8
535.4
1,525.4
938.6
1,152.7
541.0
1,563.4
958.3
1,165.8
534.8
1,580.5
976.2
1,153.0
534.6
1,555.0
985.5
1,134.3
539.9
1,529.7
1,024.8
1,144.6
512.6
1,544.6
1,037.0
1,123.6
510.4
1,528.5
110.2
8.6
298.4
18.2
53.3
20.6
21.2
50.4
23.9
128.9
8.6
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. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computeis 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 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 o t e . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
January 2009
Survey
D-37
C u r r e n t B u sin ess
of
5. Saving and Investment
Table 5.1. Saving and Investment
Table 5.3.1. Percent Change From Preceding Period
in Real Private Fixed Investment by Type
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Gross saving.........................
IV
I
II
Line
III
1 2,038.5 1,956.0 1,958.9 1,903.6 1,773.6 1,634.6 1,657.9
2
414.5
235.6
226.9
145.0
-4.4 -168.5 -240.1
Net saving....................................
Net private saving.......................
Personal saving......................
Undistributed corporate profits
with inventory valuation and
capital consumption
adjustments........................
Undistributed profits...........
Inventory valuation
adjustment......................
Capital consumption
adjustment......................
Wage accruals less
disbursements....................
Net government saving...............
Federal...................................
State and local........................
10
11
12
1.3
-155.0
- 201.1
46.2
-6.3
-218.9
-229.3
10.4
Consumption of fixed capital......
Private.......................................
Domestic business.................
Households and institutions....
Government................................
Federal...................................
State and local........................
13
14
15
16
17
18
19
1,623.9
1,356.0
1,085.5
270.5
268.0
105.6
162.3
1,720.5
1,431.1
1,147.0
284.1
289.4
20
21
1,875.5
2,647.0
Gross domestic investment,
capital account
transactions, and net
lending, NIPAs..................
Gross domestic investment............
Gross private domestic
investment..............................
Gross government investment....
Capital account transactions (net) 1
Net lending or net borrowing (-),
NIPAs..........................................
Seasonally adjusted at annual rates
2008
3
4
5
6
569.5
70.7
497.5
702.7
454.5
57.4
403.4
647.3
466.5
46.8
419.7
648.5
403.6
42.4
361.2
644.5
378.7
20.6
358.1
515.5
547.9
267.9
280.0
496.7
411.1
130.8
280.3
459.1
7
-39.5
-51.2
-31.0
-74.1
-109.4
-154.0
-90.9
8
-165.7
-192.7
-197.8
-209.2
-48.0
-62.7
- 88.0
0.0
0.0
0.0
0.0
0.0
-239.5
-244.3
4.7
-258.6
-236.3
-22.3
-383.1
-330.7
-52.4
-716.4
-649.6
-66.9
-651.2
-547.6
-103.6
177.6
1,731.9
1,440.1
1,154.4
285.7
291.8
112.5
179.3
1,758.6
1,462.3
1,171.4
290.9
296.3
113.9
182.4
1,778.0
1,477.5
1,186.1
291.4
300.5
115.0
185.5
1,803.1
1,497.4
1,205.6
291.8
305.7
116.9
188.8
1,898.1
1,585.9
1,266.0
320.0
312.1
119.2
192.9
1,874.6
2,593.2
1,951.1
2,633.1
1,917.4
2,568.4
1,837.0
2,530.0
1,771.2
2,493.8
1,820.7
2,517.2
22 2,220.4 2,130.4 2,164.0 2,092.3 2,056.1
2,000.9
492.8
2,010.9
506.3
2.6
2.6
-699.1
162.8
9
111.8
23
24
426.7
3.9
462.8
1.8
469.1
2.5
476.1
2.3
473.9
2.4
25
-775.5
-720.4
-684.5
-653.3
-695.4
-725.2
Statistical discrepancy........
Addenda:
Gross private saving...................
Grass government saving...........
Federal...................................
State and local........................
Net domestic investment............
26
-163.0
-81.4
-7.8
13.9
63.4
136.6
27
28
29
30
31
1,925.5
113.0
-95.5
208.5
1,023.1
1,885.6
70.4
-117.5
187.9
872.7
1,906.6
52.3
-131.8
184.0
901.2
1,865.9
37.7
-122.4
160.1
809.8
1,856.2
-82.6
-215.8
133.1
752.0
2,045.3
-410.7
-532.7
Gross saving as a percentage
of gross national income.....
32
15.2
14.0
13.9
13.4
12.5
11.5
11.5
Net saving as a percentage of
gross national income....
33
3.1
1.7
1.6
1.0
0.0
-1.2
-1.7
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
122.0
690.7
1,997.0
-339.1
-428.4
89.3
619.2
Private fixed investment....
Nonresidential............................
1
2
Structures...............................
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
3
4
5
8
Equipment and software.......
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software2........................
Other 3.............................
Industrial equipment............
Transportation equipment....
Other equipment4 ...............
9
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..........
2006
2007
2007
2008
III
IV
I
II
III
1.9
-3.1
-0.9
-6.2
-5.6
-1.7
-5.3
7.5
4.9
8.7
3.4
2.4
2.5
-1.7
8.2
12.7
8.3
14.1
23.1
20.5
13.5
19.8
21.4
8.5
18.5
49.5
16.2
8.6
-3.6
13.0
23.2
9.7
- 8.8
16.5
7.7
9.3
19.3
28.7
23.5
-8.4
13.2
7.2
1.7
3.6
1.0
10
9.1
9.6
8.7
10.5
11
12
24.7
4.1
7.9
5.7
6.7
4.1
17.9
6
6.1
10.2
8.1
7
11.6
13
14
15
16
17
10.0
5.4
1.4
- 12.6
-5.2
19.5
6.4
6.5
- 2.8
-5.6
4.6
8.8
19.3
9.9
7.3
-14.3
-15.2
6.3
0.2
136.1
0.5
6.8
12.8
31.6
17.3
45.3
1.9
-0.6
-5.0
-7.5
7.2
8.0
-4.2
16.1
9.9
13.0
0.2
0.8
13.0
-3.6
-46.6
-3.2
-22.4
-4.4
5.3
- 8.8
-44.7
18.0
15.5
-14.0
-12.5
2.1
-7.1
-17.9
-20.6
-27.0
-25.1
-13.3
-16.0
20
21
22
-7.2
-8.5
-9.5
0.7
-5.1
-18.1
-25.8
-27.4
- 12.8
-5.3
-20.9
-25.9
-26.7
- 20.1
-13.6
-27.3
-39.8
-42.8
-17.7
- 8.2
-25.4
-40.8
-46.2
- 1.1
-3.6
-13.7
-23.2
-30.7
24.7
-3.1
-16.0
-24.2
-30.4
7.8
-7.6
23
3.2
-1.4
0.2
-2.5
-4.9
8.0
-17.4
24
-2.4
-7.1
-5.0
-12.5
-10.4
1.6
-3.1
25
7.2
1.7
3.6
0.9
- 0.6
-4.9
-7.6
26
27
28
-1.4
8.4
- 6.6
-6.3
12.7
-18.4
-1.4
20.5
-17.4
-11.5
8.5
-27.5
- 10.1
8.5
-26.9
2.1
- 2.6
9.6
-16.9
18
19
18.3
-14.7
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.
D-38
National Data
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
January 2009
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[Index numbers, 2000 = 100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Line
2008
IV
I
II
1.9
-3.1
-0.9
-6.2
-5.6
-5.3
Nonresidential............................
1.84
-1.27
4.36
2.50
-0.80
0.37
0.24
Structures...............................
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
-1.7
Percentage points at annual
rates:
Nonresidential...........................
2
Structures..............................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures ' ................
3
4
5
0.12
6
7
Equipment and software
Information processing
equipment and software...
Computers and peripheral
equipment...................
Software 2 .......................
Other 3.............................
Industrial equipment............
Transportation equipment ,,
Other equipment4...............
3.20
5.87
4.19
0.17
2.43
0.59
0.18
0.52
8
0.48
0.25
9
4.66
1.41
0.40
1.77
2.04
-0.32
0.27
0.57
2.40
1.94
0.72
0.67
0.47
0.46
0.67
1.40
0.93
3.24
0.78
1.02
1.79
0.70
0.02
-0.49
0.58
0.84
0.59
1.72
0.81
0.10
1.67
0.46
-0.27
-2.52
-3.78
2.44
1.77
2.01
- 1.12
0.78
0.68
0.56
0.24
10
1.96
2.10
1.99
11
12
0.91
0.39
0.78
13
14
15
16
0.66
0.70
0.94
0.47
0.43
0.53
0.32
-1.03
-0.41
0.12
0.02
0.22
2.60
0.66
1.02
1.07
0.55
-0.25
-0.42
0.36
0.63
-1.31
-1.16
0.49
0.02
1.20
0.07
-1.04
-1.07
-0.32
-3.95
-0.26
-1.13
-0.52
0.53
-0.81
-3.21
1.37
Residential.................................
17
-2.71
-6.25
-6.81
-8.59
-7.40
-3.53
-4.05
Structures..............................
Permanent site....................
Single family....................
Multifamily.......................
Other structures 5................
18
19
20
21
22
-2.72
- 2.02
-2.03
-0.70
-6.25
-5.56
-5.24
-0.32
-0.69
-6.81
-4.99
-4.49
-0.50
-1.82
-8.58
-7.56
-7.16
-0.41
- 1.02
-7.38
-6.94
-6.92
- 0.02
-0.44
-3.57
-3.19
-3.66
0.47
-0.38
-3.97
-3.03
-3.20
0.17
-0.94
Equipment..............................
23
0.01
-0.01
0.00
-0.01
-0.02
0.03
-0.08
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software .,.
Private fixed investment in new
structures 6..........................
Nonresidential structures
Residential structures..........
0.02
24
-1.31
-3.82
-2.62
-6.64
-5.34
0.80
-1.47
25
3.26
0.77
1.67
0.45
-0.29
-2.49
-3.86
26
27
28
-0.69
1.44
-2.14
-3.09
2.42
-5.51
-0.65
4.18
-4.84
-5.61
1.94
-7.54
-4.85
0.99
4.33
-3.34
-1.14
2.48
-3.63
2.02
- 6.86
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, 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.
2007
III
Private fixed investment....
1
2007
III
Percent change at annual rate:
Private fixed investment....
2006
Equipment and software.......
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software 2........................
Other 3.............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
Residential.................................
2008
IV
I
II
III
1 111.109 107.717 108.218 106.503 104.969 104.522 103.102
2 106.987 112.244 113.863 114.819 115.504 116.212 115.714
3
4
5
6
7
8
86.318
80.413
65.806
75.480
149.933
80.025
9 115.467
97.264 100.005 102.076 104.206 108.716
87.048
88.025
89.911
89.086
89.133
75.083
83.763
86.364 107.059
75.756
92.881
96.608 100.294 105.666 105.804
163.896
95.505
117.412
170.885
99.416
118.348
167.155
102.543
118.636
111.257
87.099
111.222
107.551
173.291 185.600 203.757
105.677 109.978 110.490
118.470 116.961 114.709
10 127.574 139.842 141.339 144.914 147.465 150.324 148.727
11 195.433 230.472 234.740 245.331 254.682 262.580 246.464
12 122.340 134.548 135.899 139.131 142.463 143.201 141.617
13 108.784
14
96.414
15 99.186
16 119.265
114.710
97.805
86.683
113.095
17 123.728
101.534
99.644
92.110
18
19
101.216
93.247
90.399
117.306
114.250
99.303
91.392
88.829
113.089
112.243
91.686
80.509
77.259
107.728
109.882
127.738
126.133
115.585
99.953
85.427
113.716
117.627
96.179
81.981
115.475
117.698
96.369
78.949
111.679
121.342
95.494
67.497
110.767
122.931
93.311
58.204
115.457
85.698
82.692
79.154
85.216
70.609
66.172
107.427
108.883
82.144
66.108
60.369
113.512
108.043
78.634
61.683
55.132
115.667
105.916
128.573
122.582
Structures...............................
Permanent site.....................
Single family....................
Multifamily........................
Other structures5 ................
20
21
22
123.659
125.587
124.554
134.561
120.705
Equipment..............................
23
130.379
128.580
128.541
24
108.196
100.474
100.632
97.315
94.690
95.063
94.327
25
115.588
117.501
118.430
118.708
118.530
117.055
114.771
26
27
28
105.658
86.311
121.254
98.988
97.241
98.884
99.675
99.979
97.706
96.681
102.046
90.146
94.142
104.159
83.356
94.638
108.637
80.114
94.021
111.163
76.502
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. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, 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.
January 2009
Su r v ey
of
D-39
C u r r e n t B u sin ess
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
Table 5.3.5. Private Fixed Investment by Type
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2006
2007
2007
III
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 .......................
Other 3............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
2008
IV
I
II
Line
1 116.380 117.995 117.836 118.189 118.117 118.353 119.037
2 107.277 108.739 108.558 109.015 109.177 109.788 110.913
3 151.822 157.662 157.402 159.138 160.182 161.496 164.285
4 138.099 145.646 146.318 147.712 148.729 149.067 150.169
5 130.934 138.106 138.727 140.011 141.573 142.078 145.475
6 136.877 143.206 143.898 145.296 146.941 149.897 154.762
7 264.801
8 132.465
9
94.594
80.851
79.170
78.830
78.586
11
12
44.779
95.464
90.860
111.551
110.916
110.642
40.062
95.888
90.278
115.968
112.762
113.222
39.308
95.850
90.097
116.383
112.494
113.376
38.391
96.147
90.047
117.484
112.519
113.933
17 136.897
138.884
138.820 138.803
13
14
15
16
Private fixed investment....
Nonresidential............................
Structures..............................
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
2008
2007
II
III
1 2,171.1
2 1,414.1
2,134.0
2,141.0
2,113.4
2,081.7
2,077.0
1,503.8
1,522.9
1,542.1
1,553.6
1,571.9
2,060.6
1,581.2
410.4
152.8
27.4
48.4
480.3
174.4
33.0
62.3
492.9
177.1
33.4
65.0
508.7
182.6
37.3
68.2
522.7
182.2
38.9
72.6
549.8
182.7
48.4
74.2
572.4
179.9
51.5
77.9
107.9
74.1
118.1
92.6
120.7
96.7
120.0
100.6
125.0
104.0
1,008.8
3
4
5
6
IV
I
153.5
109.7
9
1,003.7
1,023.5
1,030.0
1,030.9
10
482.3
517.7
521.1
532.5
539.6
550.9
544.5
35.608
97.196
91.160
122.615
112.692
116.616
Equipment and software.......
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software 2........................
Other 3.............................
Industrial equipment............
Transportation equipment....
Other equipment 4 ...............
11
12
88.8
205.7
187.8
171.2
177.0
173.1
93.7
229.5
197.9
185.2
154.6
169.2
95.7
235.6
95.8
241.8
13
14
15
16
93.7
227.3
196.8
180.6
157.2
168.0
201.2
202.0
179.9
148.4
172.6
182.0
142.1
167.3
96.8
244.6
209.5
183.2
121.4
166.5
89.2
242.5
212.9
182.2
105.5
176.6
78.293
36.297
37.024
96.976
96.339
90.863
90.345
118.620 120.525
111.871 111.849
114.175 114.579
7
III
136.1
108.5
1,022.1
78.370
78.245
2007
1,033.4
265.158 259.684 263.966 265.221 269.548 277.090
138.742 139.323 140.532 140.978 141.296 142.169
94.870
94.712
94.798
94.700
95.101
95.710
10
2006
III
8
136.687 135.535
Residential.................................
17
757.0
630.2
618.1
571.3
528.1
505.0
479.4
Structures..............................
Permanent site....................
Single family....................
Multifamily.......................
Other structures 5................
18 137.516 139.508 139.441 139.431 138.512 137.276 136.061
19 140.838 142.989 142.795 142.608 140.827 138.467 136.207
20 141.050 142.573 142.246 141.997 140.224 137.874 135.624
21 138.857 145.435 145.726 145.839 144.018 141.605 139.293
22 132.297 134.056 134.167 134.368 134.364 134.220 133.968
Structures...............................
Permanent site.....................
Single family....................
Multifamily........................
Other structures 5................
18
19
620.7
353.4
305.2
48.2
267.3
608.6
345.8
299.2
46.6
262.8
561.8
304.2
259.8
44.4
257.6
518.7
263.4
219.7
43.7
255.3
495.6
242.5
197.1
45.4
253.1
470.2
20
21
22
747.4
468.8
416.0
52.8
278.7
Equipment..............................
23
Equipment.............................
23
9.5
9.5
9.5
9.5
9.3
9.5
9.2
24
1,157.9
1,100.9
1,101.5
1,070.5
1,041.5
1,045.4
1,042.6
25
1,013.2
1,033.1
1,039.5
1,042.9
1,040.2
1,031.6
1,018.0
26
27
28
1,057.7
409.9
647.8
1,017.1
479.7
537.4
1,022.8
998.1
508.2
489.9
971.7
522.1
449.6
978.1
549.1
429.0
978.4
571.6
406.8
Residential................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
24
99.210
142.171
100.892 100.942 100.635
145.566
25
94.633
94.921
26
27
28
143.600
152.151
138.771
147.387
158.055
141.150
137.900
100.461
100.246
101.678
145.412
146.147
146.120
146.097
94.765
94.848
94.750
95.145
95.761
147.187 148.083 148.062 148.255
157.799 159.549 160.603 161.927
141.009 141.173 140.117 139.124
149.270
164.739
138.138
146.842
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, 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.
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
492.4
530.4
222.6
177.1
45.5
247.6
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, 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,
sen/ice 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.
D-40
National Data
January 2009
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of chained (2000) dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
Private fixed investment....
Nonresidential...........................
Structures..............................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures 1................
IV
I
II
Line
3
4
5
326.4
122.5
27.5
49.5
340.5
24.1
45.2
319.7
123.7
26.6
46.9
34.0
49.5
348.4
119.8
35.4
50.3
44.5
66.7
46.4
69.4
45.4
71.6
47.1
73.8
50.4
76.8
55.4
77.2
1,061.0
1,078.9
1,087.5
1,090.1
1,088.6
1,074.7
1,054.0
596.6
653.9
660.9
677.6
689.6
702.9
695.5
313.2
20.9
35.3
304.6
119.7
23.9
43.5
8
40.7
55.9
9
10
6
7
11
12
Residential.................................
Structures..............................
Permanent site....................
Single family....................
Muffifamily.......................
Other structures 6................
20
21
22
Equipment..............................
Residual.....................................
23
24
270.3
110.6
121.1
215.5
206.7
153.5
159.5
156.5
237.0
218.0
155.7
139.4
148.4
239.4
219.6
159.1
137.4
149.2
245.1
223.5
153.1
131.9
151.5
17
552.9
453.8
445.3
18
19
543.5
332.9
294.9
38.0
210.6
444.9
247.1
214.1
33.1
199.4
436.5
242.2
210.3
32.0
195.9
9.6
-41.0
9.5
-78.2
9.5
-79.7
13
14
15
16
122.6
251.0
223.6
153.4
127.0
146.5
252.3
230.6
152.0
108.6
145.3
249.5
233.6
148.6
93.6
151.5
411.6
383.0
369.6
353.7
403.0
213.4
182.9
30.4
191.7
374.6
187.1
156.7
30.4
190.0
361.1
175.2
142.9
32.1
188.5
345.6
163.5
130.5
32.7
184.8
9.4
-94.4
9.3
-104.3
9.5
-106.6
9.0
-90.8
25
814.4
756.3
757.5
732.5
712.8
715.6
710.0
26
1,070.6
1,088.4
1,097.0
1,099.5
1,097.9
1,084.2
1,063.1
27
28
29
736.6
269.4
466.8
690.1
303.5
380.7
694.9
312.1
376.2
674.0
318.5
347.1
656.3
325.1
320.9
659.8
339.1
308.4
655.5
347.0
294.5
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 o t e . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 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.
2006
2007
III
1 1,865.5 1,808.5 1,817.0 1,788.2 1,762.4 1,754.9 1,731.1
2 1,318.2 1,382.9 1,402.9 1,414.7 1,423.1 1,431.8 1,425.7
Equipment and software.......
Information processing
equipment and software...
Computers and peripheral
equipment 2.................
Software3 .......................
Other 4.............................
Industrial equipment............
Transportation equipment....
Other equipment 5...............
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 7..........................
Nonresidential structures.....
Residential structures..........
Seasonally adjusted at annual rates
2008
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
adjustment2 ....................
Wholesale trade.......................
Merchant wholesale trade....
Durable goods industries
Nondurable goods
industries.....................
Nonmerchant wholesale
trade...............................
1
2
3
4
5
49.3
-3.9
6.5
15.0
-3.6
1.6
- 1.1
2007
2008
I
III
IV
23.0
- 0.2
-3.5
-2.5
-2.9
0.4
17.1
- 2.0
19.0
10.4
-21.1
5.7
-7.7
3.0
16.9
-14.0
- 2.0
3.9
-5.9
-22.4
-26.6
II
-25.6
0.2
- 2.6
0.4
1.7
- 1.1
4.3
2.3
-15.4
18.1
3.9
14.2
- 8.0
6.4
-14.4
- 20.8
-10.4
0.4
-3.1
-7.7
0.3
23.0
- 21.1
- 6.1
-14.9
-26.7
-25.6
-7.2
-18.4
-25.8
III
-76.0
-4.1
-14.4
-37.2
-19.7
-17.5
-49.7
-4.2
-15.0
-38.7
- 8.2
-30.6
5.6
23.6
-18.0
4.0
5.2
7
7.0
17.0
8
11.2
9
5.8
10.5
-0.4
0.9
1.9
-4.9
- 0.2
-4.7
3.6
-1.7
5.4
- 6.2
- 8.6
0.9
-0.5
8.0
2.0
4.2
3.3
16
17
18
19
49.3
20.3
29.0
53.3
-3.6
- 10.2
6.5
-5.2
20
91.0
54.4
48.5
60.6
111.0
124.9
51.2
21
22
-37.7
17.0
14.5
-25.3
17.1
18.9
-87.3
- 2.0
-96.7
5.6
0.6
3.2
-136.8
- 8.0
- 2.1
14.6
-196.8
10.1
-59.6
3.6
5.9
- 1.2
25
4.4
7.1
18.3
- 1.0
-16.7
1.2
-7.4
26
2.5
-2.3
- 1.8
-4.2
-5.9
-10.7
-16.0
6
10
11
12
13
14
15
23
24
8.0
10.6
2.0
0.8
22.2
23.2
1.0
2.2
2.1
2.8
-0.7
-18.3
-13.1
0.8
0.1
1.2
- 6.2
-4.2
- 0.8
-1.5
-1.3
-76.0
-43.9
-32.1
-71.9
-49.7
10.9
-60.5
-45.5
2.1
12.8
11.6
21.6
29.0
1. This series is derived from the Census Bureau series “current cost inventories.”
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The
IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) underlying inventories 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 o t e . Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.6.6B. Real Change in Private Inventories
by Industry, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
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................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
2006
42.3
-3.2
4.6
11.8
6.7
5.1
14.9
10.3
4.8
9.9
-0.4
0.7
1.8
7.3
3.8
2007
-2.5
1.0
- 0.6
-3.5
0.0
-3.2
3.2
-1.5
4.0
-5.6
- 8.6
0.7
-0.4
1.8
0.8
3.0
1.3
23
42.3
18.3
23.8
46.3
14.9
12.9
9.2
-2.5
-8.7
5.3
-3.7
3.2
5.2
- 1.0
24
3.8
5.5
25
2.0
- 1.8
17
18
19
20
21
22
2007
2008
III
IV
16.0
-2.5
-2.3
- 2.2
- 2.2
- 0.2
14.3
-1.7
14.1
9.6
10.7
1.7
-2.4
0.4
1.5
- 1.1
-8.1
10.5
-5.0
2.9
13.8
-9.1
-1.5
3.5
-4.2
- 20.2
-26.6
0.8
- 1.0
3.9
2.1
3.2
II
-10.2
6.0
-9.4
13.7
3.0
9.7
-5.1
5.6
-8.4
-18.5
-10.3
0.3
- 2.8
-6.5
0.3
2.3
III
-50.6
2.4
- 8.0
-26.0
-14.4
-11.3
1.0
2.3
- 0.8
-16.0
-13.0
0.6
0.1
-5.1
-3.4
0.0
-29.6
2.2
- 8.0
-25.6
-5.7
-18.0
4.2
19.7
- 10.8
3.5
5.1
0.9
-0.7
- 1.2
- 1.0
- 12.1
2.0
- 10.2
- 6.1
-4.3
-17.9
-5.1
-0.5
2.9
12.8
14.0
-0.7
-10.3
0.8
-4.6
-1.5
-3.2
^ .1
-7.4
- 10.2
16.0
0.9
14.2
19.2
14.3
16.1
0.6
- 8.1
-5.2
-3.2
I
- 20.6
-1.5
-50.6
-36.1
-16.9
-55.1
1.0
9.6
9.8
-29.6
9.3
-34.3
-33.3
4.2
16.2
24.1
N o t e . Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) 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 chaineddollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most
detailed lines.
January 2009
Su r v ey
of
D-41
C u r r e n t B u sin ess
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted quarterly totals
2007
Line
III
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...........................................................
Seasonally adjusted quarterly totals
2008
IV
1
II
III
1 2,030.7 2,088.0 2,178.2 2,264.4 2,233.8
2
182.1
191.2
220.2
235.1
227.0
95.2
661.9
373.4
288.5
531.2
286.6
244.5
518.4
150.8
43.2
81.6
242.9
151.4
103.5
697.2
389.9
307.3
552.3
295.3
256.9
522.4
147.9
44.6
82.8
247.1
153.9
98.9
677.8
387.4
290.4
546.4
302.5
243.9
527.0
149.7
45.3
83.5
248.4
156.7
2,264.4
949.7
1,314.7
2,029.3
552.3
475.5
264.5
Final sales of domestic business ...................
16 2,030.7 2,088.0 2,178.2
17
900.7
904.4
927.0
18 1,130.0 1,183.6 1,251.2
19 1,848.5 1,896.8 1,958.0
531.2
20
492.0
511.9
21
422.7
439.1
456.9
22
242.3
245.2
254.4
23
180.3
193.9
202.5
24
69.3
74.3
72.8
795.4
@FedFRASER