Full text of Survey of Current Business : June 2008
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J U N E
2 0 0 8
B E A ’s
M O N T H L Y
J O U R N A L
S urvey of C urrent B usiness
In T h i s I s s u e . . .
U.S. T r a v e l a n d T o u r i s m S a t e l l i t e A c c o u n t s f o r 2 0 0 4 - 2 0 0 7
N e w F o r e i g n D i r e c t I n v e s t m e n t in t h e U n i t e d S t a t e s in 2 0 0 7
BEA B r i e f i n g : I m p r o v i n g B E A ’s A c c o u n t s T h r o u g h F l e x i b l e
A nnual Revisions
m
B U R E A U
BEA
O F E C O N O M IC
U .S . D E P A R T M E N T
A N A L Y S IS
O F C O M M E R C E
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, Chief Economist
Brian M. Callahan, Chief Information Officer
Dennis J. Fixler, Chief Statistician
Brent R. Moulton, Associate Director for National Economic Accounts
Joel D. Platt, Associate Director for Regional Economics
Obie G. Whichard, Associate Director for International Economics
Vacant, Associate Director for Industry Accounts
BEA Advisory Committee
The BEA Advisory Committee advises the Director o f BEA on matters related to the development and improvement o f BEA’s national,
regional, industry, and international economic accounts, especially in areas o f 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 of California, Berkeley
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry R Bosworth, The Brookings Institution
Susan M. Collins, University of Michigan
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of 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, E ditor-in-C h ief
M. Gretchen Gibson, M anaging E ditor
Kristina L. Maze, Production M anager
Wm. Ronnie Foster, Graphic Designer
Robert E. Wehausen, Production E ditor
Danielle M. Wittenberg, E ditor
Anastassia Bogosian-Scissors, Intern
Elizabeth M. Terroni, Intern
Joshua M. Thomas, Intern
T h e S u r v ey o f C u r r e n t B u s in e s s ( I S S N 0 0 3 9 - 6 2 2 2 ) is p u b
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Survey of Current Business
June 2008
1
Volum e 88 • N u m b er 6
G D P and th e Econom y: P relim in ary E stim ates for th e First Q u arter of 2008
Real GDP increased 0.9 percent after increasing 0.6 percent in the fourth quarter. C onsum er
spending for services, exports, federal governm ent spending, and inventory investm ent increased.
In contrast, consum er spending for durable goods and housing investm ent decreased.
10
11
The Effect of the Economic Stimulus Act of 2008 on Corporate Profits
G o vern m en t R eceipts and E xpenditures: First Q u a rter of 2008
Net governm ent saving decreased $115.3 billion to -$375.6 billion. Net federal governm ent saving
decreased $93.4 billion to -$311.9 billion. State and local governm ent saving decreased $21.8 billion
to -$63.7 billion.
14
U.S. Travel and Tourism S atellite A cco u n ts for 2 0 0 4 -2 0 0 7
The travel and tourism industry grew for the sixth consecutive year in 2007. Revised estim ates show
th at the industry grew 1.9 percent in 2007, com pared w ith 3.1 percent in 2006 and 2.9 percent in
2005.
29
B EA B riefing: Im proving B E A ’s A cco u n ts Throug h Flexible A nnual R evisions
The Bureau o f Econom ic Analysis will take a new approach to annual revisions o f its econom ic
accounts beginning in 2010. This article discusses the benefits of the new approach.
33
Foreign D irect Investm ent in th e U nited States: N ew Investm ent in 2007
Outlays by foreign investors to acquire or establish U.S. businesses increased $111.2 billion to
$276.8 billion, the second largest outlays on record and the highest level since the peak in 2000.
w w w .b e a .g o v
/'/'
June 2008
D -1
B EA C urren t and H istorical Data
iii
D ire cto r’s M essage
iv
Taking A cco u n t
B E A ’s W eb S ite and C on tacts (inside back cover)
S ch ed u le of U pcom ing N ew s R eleases (b ack cover)
Looking A head . . .
G ross D om estic P ro d u ct by State. Advance statistics for 2007 and revised statistics
for 2004-2006.
A n n u al R evision o f th e U.S. In te rn a tio n a l T ransactions A ccounts. A sum m ary o f
the m ajor sources o f the revisions to these accounts for 1998-2007.
June 2008
D irector’s M essage_________________
At the Bureau o f Econom ic Analysis (BEA), o u r goal is to p ro
duce statistics on the state o f the econom y in a tim ely m anner.
Like other statistical agencies, we continually weigh the benefits
o f incorporating new source data against the need for tim eliness
and the need to update o u r statistics to account for m ajor shifts
in the econom y against the need to provide consistent historical
data.
To allow us to better m anage such tradeoffs, we will im ple
m ent a new approach to annual revisions. This new approach,
called flexible annual revisions, will begin in 2010. An overview
article in this m o n th ’s S u r v e y o f C u r r e n t B u s in e s s describes how
the new system will allow us to m ake m ajor im provem ents to o u r
econom ic accounts faster. M ethodological and conceptual
changes th at were previously reserved for every-5-year com pre
hensive revisions can now be rolled o u t annually. O u r users will
benefit from m ore up-to-date inform ation and less onerous
changes in com prehensive revisions.
Elsewhere in this issue, we present o u r annual update o f o u r
travel and tourism satellite account, w hich showed th at grow th in
the travel industry m oderated in 2007. A nother article updates
statistics on foreign direct investm ent in the U nited States, which
was strong in 2007 and 2006.
You’ll also find articles th at detail the latest gross dom estic
p ro d u ct statistics and governm ent receipts and expenditures in
easy-to-read form ats.
iv
June 2008
Taking Account...
BEA Study Estimates Price
Indexes for Metro Areas
Price deflators are com m only
used to adjust data for changes
in price levels. For regional
econom ists, one challenge has
long been to deflate production
and personal incom e data for
specific regions w ith appropriate
price indexes.
In a recent paper th at builds
on her previous research, Bettina H. Aten, econom ist at the
Bureau o f Econom ic Analysis
(BEA), has calculated estim ates
o f experim ental price deflators
for 2005 th at m ay be used to ad
just price level differences across
363 m etropolitan areas and
across all states and the D istrict
o f Colum bia. These “place-toplace” price differences m ake
possible com parisons o f eco
nom ic data th at are adjusted for
geographic differences in price
levels.
In in ternational com pari
sons, these adjustm ents are
term ed purchasing pow er p ari
ties; w hen divided by exchange
rates, they are called national
price levels. In areas w ith a com
m on currency, like the euro, the
exchange rates are the same and
the purchasing pow er parities
becom e price levels.
lust as there are differences in
price levels betw een European
U nion m em ber countries, there
are significant differences in the
purchasing pow er o f a currency
across diverse areas of the
U nited States. Price m ovem ents
in m etropolitan New York, for
example, are likely m uch differ
ent th an price m ovem ents in ru
ral South Dakota.
Aten uses the term spatial
price indexes to label these esti
m ates, w hich can be seen as the
regional equivalent o f purchas
ing pow er parities for consum p
tion.
Spatial price indexes can be
used to adjust consum ption-re
lated statistics— such as per cap
ita incom es, expenditures, and
o u tp u t— providing users w ith a
m ore accurate picture o f re
gional econom ic differences at a
given po in t in time.
Aten’s calculation o f the spa
tial price indexes proceeded in
three steps. In the first step, 38
areas w ith specific consum er
price indexes (CPIs) were de
com posed into sm aller and
m ore consistent geographical ar
eas, generally counties.
In the second step, estimates
were m ade for the rem aining
counties in the U nited States.
These counties, for which there
was n o t a relevant CPI, tend to
be in nonm etropolitan and rural
areas.
In the third step, these county
price level estim ates were aggre
gated for all states and 363 m et
ropolitan areas.
The paper also calculated the
values o f personal incom e and
gross dom estic p roduct by m et
ropolitan area and state deflated
by their respective spatial price
index and thus adjusted for geo
graphic differences in prices.
The results dem onstrate the
feasibility o f estim ating state
price levels from the best infor
m ation available on prices and
rents from the Bureau o f Labor
Statistics and the Census Bu
reau s A m erican C om m unity
Survey. Just as econom ists de
flate incom es and o u tp u t over
tim e to adjust for changes in
prices across years using the CPI,
the spatial price indexes can be
used to adjust incom es or o u t
p u t for differences in relative
price levels across places.
The paper is available on the
BEA Web site at <www.bea.gov>
by clicking on “Papers and
W orking Papers.”
New FAQs Posted on BEA’s
Web Site
New or updated answers to the
following frequently asked ques
tions (FAQs) are now available
on BEA’s Web site:
• How does the Econom ic
Stim ulus Act o f 2008 affect
corporate profits in the
national incom e and pro d u ct
accounts (NIPAs)?
• H ow will rebates for individ
uals from the stim ulus act be
recorded in the NIPAs?
• W hy does gross dom estic
p roduct
(GDP)
contain
im putations?
• Have GDP revisions over
tim e raised GDP growth?
• Is there evidence GDP grow th
is overstated because im ports
are mismeasured?
Since the FAQ feature was
launched in M arch 2006, it has
becom e a valuable tool for users
in need o f quick answers about
all aspects o f BEA’s accounts. It
allows users to search for an
swers by category and keyword.
It is regularly updated w ith new
and relevant items.
The service is available at
< www.bea.gov> by clicking on
“FAQ” near the top o f the page.
1
June 2008
GDP and the Economy
P r e lim in a r y E s tim a te s fo r th e F ir s t Q u a r te r o f 2 0 0 8
R
EAL gross dom estic product (GDP) increased 0.9
percent in the first quarter o f 2008 after increasing
0.6 percent in the fourth quarter o f 2007, according to
the “prelim inary” estim ates o f the national incom e and
p ro d u ct accounts (NIPAs) (chart 1 and table l ) . 1 The
first-quarter grow th rate was revised up 0.3 percentage
p o in t from the “advance” estim ate (page 9).2
The slight step-up in real GDP grow th prim arily re
flected an u p tu rn in inventory investm ent; in contrast,
consum er spending decelerated.3
• Prices o f goods and services purchased by U.S. resi
dents increased 3.5 percent after increasing 3.7 p er
cent in the fourth quarter (page 8). The firstquarter increase was unrevised from the “advance”
estim ate. Food prices picked up, and energy prices
slowed. Excluding food and energy, gross dom estic
purchases prices increased 2.2 percent, following an
increase o f 2.3 percent in the fo u rth quarter.
• Real disposable personal incom e (DPI) increased
1.8 percent after increasing 0.9 percent (revised) in
the fo u rth quarter. The first-quarter increase was
revised up 0.4 percentage point. Personal current
taxes and the personal consum ption expenditures
im plicit price deflator used to deflate current-dollar
DPI b o th decelerated.
• The personal saving rate, personal saving as a p er
centage o f current-dollar DPI, was 0.6 percent in
the first quarter, revised up 0.4 percentage point
from the “advance” estimate; in the fourth quarter,
it was 0.2 percent (revised).
• C orporate profits rose $5.2 billion in the first q u ar
ter after falling $52.9 billion in the fourth quarter.
Profits in the first quarter reflected the Econom ic
Stim ulus Act o f 2008 (page 10).
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
R e a l G D P : P e rc e n t c h a n g e fro m
2004
2006
2007
2008
: C o n s u m e r s p e n d in g
I
: N o n re s id e n tia l fixed in v e s tm e n t
R e s id e n tia l fixed in v e s tm e n t
In v e n to ry in v e s tm e n t
:E xp o rts
Im ports
G o v e rn m e n t sp e n d in g
-2
-1
0
1
P e rce n ta g e p o in ts at an a n n u a l rate
P r ic e s : P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
2005
2006
2007
2008
2007
2008
D P I: P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
2004
C hristopher Swann prepared this article.
2005
C o n t r i b u t i o n s t o t h e i n c r e a s e i n r e a l G D P i n 2 0 0 8 :1
2004
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 assume that a rate
of activity for a quarter is maintained for a year.
3. In this article, “consumer spending” refers to “personal consumption
expenditures,” “inventory investment” refers to “change in private invento
ries,” and “government spending” refers to “government consumption
expenditures and gross investment.”
th e p r e c e d in g q u a r t e r
2005
U.S. Bureau of Economic Analysis
2006
GDP and the Economy
2
June 2008
Real G D P O verview
Table 1. Real Gross Domestic Product and Components
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
2007
2008
I
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2008
2007
II
III
IV
I
II
III
4.9
0.6
0.9
3.8
4.9
1.0
Gross dom estic prod uct1.....
100.0
3.8
Personal consum ption
expenditures..................................
70.8
1.4
2.8
2.3
1.00
Durable goods............................
Nondurable goods......................
Services.....................................
7.5
20.8
42.5
1.7
-0.5
2.3
4.5
2.2
2.8
2.0 -6.2 0.14
1.2 -0.3 -0.10
2.8
3.0 0.96
Gross private dom estic
investm ent......................................
14.4
4.6
Fixed investment........................
14.5
3.2
-0.7
-4.0
Nonresidential........................
Structures...........................
Equipment and software.....
10.8
3.6
7.2
11.0
26.2
4.7
9.3
16.4
6.2
6.0 -0.2
12.4
1.1
3.1 -0.9
Residential.............................
I
0.6
0.9
2.01
1.58
0.70 1
0.35
0.46
1.20
0.15 -0.49
0.25 -0.07
1.18 1.25
-6 .5
0.71
-7.8
0.49 -0.11 -0.62 -1.20
1.12
0.78
0.34
0.22
Change in private inventories.....
-0.2
-5 .0
Exports.......................................
Goods.....................................
Services.................................
12.6
8.8
3.7
Imports.......................................
Goods.....................................
Services.................................
17.6 -2.7
14.9 -2.9
2.8 -1.7
Federal.......................................
National defense....................
Nondefense............................
State and local...........................
2008
IV
0.77 -2.4 0 -0.9 8
0.96
0.52
0.44
0.63 -0.03
0.41 0.04
0.22 -0.07
3.8 -11.8 -20.5 -25.2 -25.5 -0.62 -1.08 -1.25 -1.17
Net exports of goods and
s e rv ic e s ..........................................
G overnm ent consum ption
expenditures and gross
investm ent......................................
5.0 -1 4 .6
19.9
7.2
4.9
2.3
12.7
7.5
6.6
9.6
19.1
26.2
4.0
4.1
6.0
8.5
0.9
3.0
6.5
3.9
13.2
2.8
1.5
5.8
0.89 -1.79
0.21
1.32
1.38
1.02
0.80
0.85
2.10
1.96
0.14
0.77
0.33
0.45
0.340.13
0.21
0.47 -0.72
0.24
0.46
0.53
0.33
Consumer spending slowed, as spending for durable
goods and nondurable goods turned down. The 1.0
percent increase in the first quarter added 0.70 per
centage point to real GDP growth. In the fourth quar
ter, consumer spending increased 2.3 percent and
added 1.58 percentage points to real GDP growth.
4.4 -1 .4 -2.6
4.8 -2.6 -3.6
1.7
5.5 2.8
0.42 -0.67 0.39 0.54
0.05 -0.05 -0.15 -0.08
3.8
2.0
2.0
0 ./9
0.74
0.38
0.38
7.1
0.5
10.1 -0.5
1.1
2.8
1.9 2.8
4.4
5.6
1.8
0.6
0.41
0.39
0.02
0.37
0.50 0.04
0.47 -0.03
0.03 0.06
0.24 0.34
0.31
0.27
0.04
0.08
1. The estimates of GDP under the contribution columns are also percent changes.
Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares
are from NIPA table 1.1.10.
N ote .
Nonresidential fixed investment turned down, reflect
ing a slowdown in investment in structures and a
downturn in investment in equipment and software.
Residential fixed investment decreased more in the
first quarter than in the fourth quarter. It was the larg
est percentage decrease since the fourth quarter of
1981 and subtracted 1.17 percentage points from firstquarter real GDP growth.
Inventory investment turned up, mainly reflecting an
upturn in retail trade and a smaller decrease in whole
sale trade.
Exports slowed, increasing 2.8 percent after increasing
6.5 percent. The slowdown reflected decelerations in
exports of both goods and services.
Imports decreased more in the first quarter than in the
fourth quarter. Imports of goods decreased more than
in the fourth quarter. Imports of services slowed.
Federal government spending accelerated, increasing
4.4 percent after increasing 0.5 percent; national de
fense spending turned up.
State and local government spending slowed.
Table 2. Real Gross Domestic Product (GDP) by Type of Product
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
2007
2008
I
Gross dom estic prod uct1 ...............
Final sales of domestic product
Change in private inventories....
Goods..........................................
Services.......................................
Structures.....................................
100.0
100.2
-0.2
30.5
60.0
9.5
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2007
2008
II
III
IV
3.8
3.6
4.9
4.0
5.4
3.1
3.0
11.7
3.1
-4.2
13.1 -26.0 -12.3
0.6
2.4
I
0.9
0.7
-1.6
1.0
3.1
3.2
-7.0 -12.6
II
III
2008
IV
I
3.8
4.9
0.6
0.9
3.60 4.02 2.36 0.69
0.22 0.89 -1.79 0.21
1.65 3.48 -0.49 0.32
1.85 1.86 1.80 1.89
0.32 -0.43 -0.73 -1.31
Addenda:
Motor vehicle output........................
2.6
1.0
0.03
0.36 -0.86 -0.35
GDP excluding motor vehicle output
97.4
3.9
4.7
1.5
1.3
3.79
4.54
1.43
1.25
Final sales of computers..................
GDP excluding final sales of
computers....................................
0.7
35.7
49.8
26.6
8.6
0.21
0.28
0.16
0.06-
99.3
3.6
4.6
0.4
0.9
3.61
4.63
0.41
0.84
1. The estimates of GDP under the contribution columns are also percent changes.
N ote . Percent changes are from NIPA table 1.2.1, contributions are from NIPA table 1.2.2, and shares
are calculated from NIPA table 1.2.5.
Real final sales of domestic product, real GDP less in
ventory investment, decelerated, increasing 0.7 per
cent in the first quarter after increasing 2.4 percent in
the fourth quarter.
Motor vehicle output decreased 12.3 percent after de
creasing 26.0 percent. The first-quarter increase was
revised up 1.5 percentage points.
Excluding motor vehicle output, real GDP increased
1.3 percent after increasing 1.5 percent.
Final sales of computers decelerated, increasing 8.6
percent in the first quarter after increasing 26.6 per
cent. The first-quarter increase was revised down 9.8
percentage points.
June 2008
3
S u r v e y o f C u r r e n t B u s in e s s
C o n su m er S pending
Table 3. Real Personal Consumption Expenditures (PCE)
[Seasonally adjusted at annual rates]
Share of
currentdollar
PCE
(percent)
2008
I
Contribution to percent
change in real PCE
(percentage points)
Change from
preceding period
(percent)
2007
II
III
2007
2008
IV
I
II
III
2008
IV
I
P C E 1.......................................
100.0
1.4
2.8
2.3
1.0
1.4
2.8
Durable g o o d s.............................
10.6
1.7
4.5
2.0
-6 .2
0.19
0.49
0.22 -0 .6 9
Motor vehicles and parts
Furniture and household
equipment..........................
4.2
-2.9
-5.2
2.8 -13.5 -0.14 -0.24
0.13 -0.63
O t h e r 2 ..........................................
4.1
2.2
4.2
6.8
10.8
13.4
Nondurable g o o d s .....................
29.4
-0 .5
2.2
1.2
-0 .3 -0 .1 4
Food......................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
13.8
3.7
-1.4
2.4
1.3
6.3
4.2
-3.6
1.1 -0.19
1.7 0.09
O t h e r 3 ..........................................
4.1
7.7
-4.5
1.7
-0.6
3.3
-1.4
-0.1
S e rv ic e s .........................................
60.1
2.3
2.8
2.8
3.0
1.35
1.70
1.69
Housing.................................
Household operation.............
Electricity and gas.............
Other household operation
Transportation.......................
Medical care..........................
Recreation.............................
Other4...................................
15.1
5.6
2.5
3.1
3.7
17.4
4.1
14.2
2.7
1.4
1.2
1.5
4.4
2.3
0.9
1.9
2.5
6.2
13.5
1.1
3.5
2.2
3.5
2.4
3.2
6.0
12.1
1.6
2.8
4.3
0.0
0.3
2.2
6.5
13.7
1.2
1.5
3.6
-1.5
3.6
0.41
0.08
0.03
0.05
0.16
0.40
0.04
0.27
0.38
0.33
0.30
0.03
0.13
0.38
0.14
0.34
0.49
0.32
0.27
0.05
0.10
0.74
4.5
-4.0
0.6
-3.9
0.18
0.15
2.3
1.0
0.44 0.19 0.02
0.29 -0.09 -0.09
0.65
0.36 - 0 . 0 9 '
0.18 0.56
0.24 -0.14
0.15
0.06
-4.8 -0.17 -0.02 -0.06 -0.20
-1.4 0.13 0.25 -0.01 -0.11
1.78
0.33
0.35
0.31
0.04
0.06
0.61
0.00 -0.06
0.05 0.49
1. The estimates under the contribution columns are also percent changes.
2. Includes jewelry and watches, ophthalmic products and orthopedic equipment, books and maps,
bicycles and motorcycles, guns and sporting equipment, photographic equipment, boats, and pleasure
aircraft.
3. Includes tobacco, toilet articles, drug preparations and sundries, stationery and writing supplies,
toys, film, flowers, cleaning preparations and paper products, semidurable house furnishings, and maga
zines and newspapers.
4. Includes personal care, personal business, education and research, religious and welfare activities,
and net foreign travel.
N o te . Percent changes are from NIPA table 2.3.1, and contributions, from NIPA table 2.3.2; shares are
calculated from NIPA table 2.3.5.
Spending for durable goods turned down in the first
quarter and reduced growth in consumer spending
0.69 percentage point. In the fourth quarter, it added
0.22 percentage point to growth. The downturn
mainly reflected a downturn in spending for motor
vehicles and parts.
Spending for nondurable goods also turned down, re
ducing growth in real consumer spending by 0.09 per
centage point after adding 0.36 percentage. The
downturn reflected a sharp deceleration in spending
for food and a larger decrease in spending for gasoline,
fuel oil, and other energy goods. In contrast, spending
for clothing and shoes turned up.
Spending for services picked up slightly and added
1.78 percentage points to the growth in consumer
spending. The pickup mainly reflected an acceleration
in “other” services. In contrast, spending for housing
services and for medical care services slowed.
Chart 2. Real Personal Consumption Expenditures
P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
6
2004
2005
2006
2007
C o n t r ib u t i o n s t o t h e i n c r e a s e in P C E in 2 0 0 8 :1
Durable goods i
I
Nondurable goods
Services
-1
0
1
Percentage points at an annual rate
U.S. Bureau of Economic Analysis
2008
4
June 2008
GDP and the Economy
Private Fixed Investm ent
Table 4. Real Private Fixed Investment (PFI)
[Seasonally adjusted at annual rates]
Share of
currentdollar
PFI
(percent)
2008
Private fixed investm ent1 ...
2007
II
I
100.0
Contribution to percent
change in real PFI
(percentage points)
Change from
preceding period
(percent)
3.2
2008
III
IV
I
-0 .7
-4 .0
2007
2008
II
III
IV
I
-7 .8
3.2
-0 .7
-4 .0
-7 .8
4.19 -0 .1 7
N onresidential.................................
73.9
11.0
9.3
6.0
-0 .2
7.16
6.22
S tru ctu res....................................
24.5
26.2
16.4
12.4
1.1
4.97
3.37
Commercial and health care
Manufacturing.......................
Power and communication....
Mining exploration, shafts,
and wells...........................
Other structures2.................
8.8
1.7
3.1
2.5
19.0
52.1
5.2
-7.2
21.3
1.7
64.9
29.2
-0.4
35.8
-6.2
0.21 0.42
0.23 -0.10
1.07 0.53
0.14 -0.03
0.72 0.49
0.76 -0.20
5.9
4.9
48.6
40.7
25.5
34.0
6.7
17.2
-6.5
8.7
2.13
1.34
1.27
1.24
0.37 -0.39
0.72 0.40
Equipm ent and s o ftw a re ........
49.5
4.7
6.2
3.1
-0 .9
2.19
2.86
1.48 -0 .4 4
25.9
10.1
6.6
14.7
5.9
2.30
1.52
3.35
Information processing
equipment and software....
Computers and peripheral
equipment.....................
Software3.........................
Other4..............................
Industrial equipment.............
Transportation equipment.....
Other equipment5................
R esidential........................................
S tru ctu res....................................
Permanent site.....................
Single family.....................
Multifamily.........................
Other structures6.................
E q u ip m e n t...................................
4.9 12.3
11.1 10.8
8.4
9.9
8.7 16.3
6.8 -23.8
8.1
9.3
11.7 32.8 17.2 0.53
4.4 11.9
6.5 1.03
9.7
0.3 0.73
6.5
8.2 -12.9
3.0 1.22
3.0 -16.3 -14.2 -2.03
6.1
6.9 -12.7 0.69
26.1 -1 1 .8 -2 0 .5
- 2 5 .2
- 2 5 .5
2.71
0 .2 7 -
1.46
0.50 1.31 0.76
0.44 1.17 0.68
0.58 0.87 0.02
0.66 -1.16 0.25
0.21 -1.25 -1.04
0.47 0.54 -1.10
-4.01 -6 .9 5 -8 .1 9 -7.61
Nonresidential fixed investment turned down in the
first quarter, decreasing 0.2 percent after increasing 6.0
percent in the fourth quarter. The downturn reflected
a slowdown in business spending for structures and a
downturn in investment in equipment and software.
The slowdown in structures investment was wide
spread. Investment in power and communication
structures, in mining exploration, shafts, and wells,
and in commercial and health care structures turned
down. Investment in “other” structures and in manu
facturing structures slowed.
The downturn in equipment and software investment
reflected a deceleration in information processing
equipment and software and a downturn in “other”
equipment, especially agricultural machinery. In con
trast, investment in industrial equipment turned up.
Residential investment decreased for the ninth consec
utive quarter and reflected continuing deterioration
that was widespread across housing categories.
25.6 -1 1 .9 -2 0 .8 -2 5 .5 -2 5 .8 -3 .9 8 -6 .9 7 -8 .1 8 -7 .5 8
12.9 -14.4 -23.3 -38.3 -39.2 -2.77 -4.44 -7.34
10.8 -14.2 -24.5 -41.2 -43.4 -2.35 -4.05 -6.89
2.1 -15.8 -15.6 -18.5 -10.8 -0.42 -0.39 -0.45
12.7 -8.5 -17.6 -6.4 -8.2 -1.21 -2.53 -0.84
0.5
-6 .0
3.3
-2 .0
-5 .5 -0 .0 3
0.01 -0.01
-6.54
-6.30
-0.24
-1.05
-0 .0 2
Chart 3. Real Private Fixed Investment
Percent change from the preceding quarter
15
1. The estimates of fixed investment under the contribution columns are also percent changes.
2. 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 struc
tures.
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 struc
tures, and brokers’ commissions on the sale of residential structures.
N o te . Percent changes are from NIPA table 5.3.1, contributions are from NIPA table 5.3.2, and shares
are calculated from NIPA table 5.3.5.
10
5
0
-5
-1 0
2004
2005
2006
2007
2008
Contributions to the increase in real private fixed investment in 2008:1
Nonresidential structurS
I
Nonresidential equipment and software
Residential investment
-8
-6
-
4
-
2
P e r c e n ta g e p o in ts a t a n a n n u a l r a te
U.S. Bureau of Economic Analysis
0
2
June 2008
5
S u r v e y o f C u r r e n t B u s in e s s
Inventory Investm ent
Real inventory investment increased $3.9 billion in the
first quarter after decreasing $48.9 billion in the fourth
quarter, mainly reflecting an upturn in retail trade and
a smaller decrease in wholesale trade.
Table 5. Real Change in Private Inventories by Industry
[Billions of chained (2000) dollars; seasonally adjusted at annual rates]
Change from
preceding quarter
Level
2007
I
Change in private inventories1
Farm....................................................
Mining, utilities, and construction........
Manufacturing.....................................
Durable-goods industries................
Nondurable-goods industries..........
Wholesale trade..................................
Durable-goods industries................
Nondurable-goods industries..........
2007
2008
III
IV
I
II
0.1
5.8
30.6 -1 8 .3 -1 4 .4
5.0
3.6
1.9
4.1
-2.6
2.2
-0.9
-b.b
-b .2
-1.4
-2.4
-5.0 -4.2
0.8 -7.5
-5.3
2.7
4.4 -0.2
8./ -13.3
-3.4 10.9
3.1
1.4
1.7
8.5
20.5
-9.4
16.4
5.0
10.4
0.8
-8.3
8.0
13.9
-0.4
12.7
-3.3
6.1
-7.7
4.3
Retail trade.......................................... -13.5
Motor vehicle and parts dealers...... -15.4
Food and beverage stores............... -0.1
General merchandise stores...........
2.3
Other retail stores............................ -1.5
Other industries...................................
2.3
Residual2............................................
II
3.3
-5.2
0.7
2.5
4.6
12.7 -22.9
11.6 -30.8
1.8
0.9
-1.8 -0.7
1.9
4.5
5.7
-5.9 -4.6
4.1 -22.0
-8.0 14.3
-20.2 16.8
-13.9 10.2
0.4
0.8
-1.7
0.2
-6.2
6.1
III
2008
IV
I
24.8 -4 8 .9
0.5
-1.9
-4 .b
-2 .9
7.3
8.9
-1.0
14.1
12.9
1.8
9.4
16.8
1.1
-4.3
-2.7
5.4
19.1
-11.1
-17.2
6.5
-20.4
3.9
-3.1
0.3
7.9
-15.5
19.8
-2.6-2.0
-0.3
-35.6
2.7
-42.4 16.9
-0.9 -0.5
1.1 -1.0
2.6 -10.7
0.6
0.3
-0.2
-1.1
-1.7
-0.3
-0.5
-0.9
2.4
4.3
-0.1
1.8
2.7
1.9
-4.4
1.9
0.9
2.43
2.24
2.41
2.21
2.39
2.20
2.37
2.18
2.37
2.18
3.61
3.57
3.54
3.52
3.54
Addenda: Ratios of private
inventories to final sales of
dom estic business:3
Private inventories to final sales......
Nonfarm inventories to final sales....
Nonfarm inventories to final sales of
goods and structures...................
1. The levels are from NIPA table 5.6.6B.
2. The residual is the difference between the first line and the sum of the most detailed lines. It reflects
that chained-dollar estimates are usually not additive, because they are based on quantity indexes that
use weights of more than one period.
3. The ratios are from NIPA table 5.7.6B.
Inventory investment in mining, utilities, and con
struction industries increased $0.3 billion after de
creasing $2.9 billion.
The $2.6 billion decrease in inventory investment in
wholesale trade industries in the first quarter was
smaller than the $17.2 billion decrease in the fourth
quarter. The smaller first-quarter decrease mainly re
flected a smaller decrease in nondurable-goods indus
tries.
The $2.7 billion increase in inventory investment in
retail trade industries followed a $35.6 billion de
crease. It mainly reflected an upturn in motor vehicle
and parts dealers that exceeded a downturn in “other”
retail stores.
Chart 4. Real Private Inventory Investment
Change from the preceding quarter
Billions of chained (2000) dollars
60
Inventory Investment
The real change in private inventories, often called real pri
vate inventory investment, represents the change in the
physical stock of goods held by businesses. It includes fin
ished goods, goods at various stages of production, and raw
materials.
The change in private inventories is a key component of
gross domestic product (GDP), which aims to measure out
put derived from current production. To include the value
of currently produced goods that are not yet sold and to
exclude the value of goods produced in previous periods,
change in private inventories must be included in the GDP
calculation.
Thus, GDP can also be seen as the sum of final sales of
domestic product and the change in private inventories
(table 2).
For most industries, the estimates of change in private
inventories are prepared by revaluing book-value estimates
of inventories from the Census Bureau to a replacementcost basis and calculating the change over a quarter or year.
BEA does not always have complete data for every industry.
-4 0
2004
2005
2006
2007
2008
Composition of change in inventory investment in 2008:1
I
Mining, utilities, and construction
Manufacturing
Wholesale trade
Retail trade
-4
-2
0
U.S. Bureau of Economic Analysis
2
4
6
8
10
June 2008
GDP and the Economy
6
E xports and Im ports
Table 6. Real Exports and Imports of Goods and Services
[Seasonally adjusted at annual rates]
Share of
currentdollar
exports
and
imports
(percent)
2008
I
Contribution to
percent change in
real exports and imports
(percentage points)
Change from
preceding period
(percent)
2007
II
2008
III
IV
I
Exports of goods and
s ervices1 ...........................
100.0
7.5
19.1
6.5
2.8
Exports of g o o d s 2.......................
70.3
6.6
26.2
3.9
1.5
44.0 -13.4
Foods, feeds, and beverages
Industrial supplies and
materials.............................
Capital goods, except
automotive..........................
Automotive vehicles, engines,
and parts............................
Consumer goods, except
automotive..........................
Other......................................
2007
II
III
7.5
19.1
6.5
2.8
4.66 17.84
2.76
1.06
IV
I
6.2
24.4
14.0
1.09
2.06 -0.79
0.77
19.5
6.4
19.9
8.2
7.0
1.16
3.67
1.50
1.31
26.1
5.1
28.3
10.4
-4.5
1.41
7.37
2.75 -1.24
6.7
24.5
40.7
-9.9 -17.4
1.64
2.80 -0.78 -1.33
8.8
4.5
3.0 -28.2
21.3
1.0
-2 .1
4.0
13.2
11.1
14.1 0.41
14.1 -1.04
Exports of s e rv ic e s 2 ..................
29.7
9.6
Im ports of goods and
services1...........................
100.0
-2 .7
4.4
Im ports of g o o d s 2......................
84.2
-2 .9
4.8
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products......................
Petroleum and products.........
Capital goods, except
automotive..........................
Automotive vehicles, engines,
and parts............................
Consumer goods, except
automotive..........................
Other......................................
3.4
-5.9
7.2 -13.5
2.1 -0.21
Im ports of s ervic es 2 ..................
2008
5.8
2.87
-1 .4
-2 .6
-2 .7
-2 .6
-3 .6 -2 .4 4
1.89 -0.24
0.03 0.31
1.16
0.40
1.28
3.78
1.70
4.4
-1 .4
-2 .6 '
4.07 -2 .2 5 -3 .0 5
0.24 -0.50
0.07
11.8 22.2
4.9 -27.5 -11.6 2.53 0.62 -3.91 -1.44
18.0 -22.3 -18.3 28.1 14.4 -3.27 -2.75 3.71 2.29
18.2
1.3
10.1
-2.3
26.2 -13.2 -15.6 -0.26
2.61 -1.55 -1.76
19.1 -3.5
3.6 -16.7
1.8
/.3 -10.9 -0./3
36.0 -31.2 -8.1 -0.73
0.37 1.40 -2.24
1.25 -1.46 -0.31
15.8
-1 .7
9.4
1.7
0.3
5.5
1.8
0.24
2.8 -0.2 6
1.72
0.28
0.06
0.84
0.34
0 .4 3 -
Addenda:
Exports of agricultural goods3
Exports of nonagricultural
goods .................................
Imports of nonpetroleum
goods .................................
6.6
35.5
63.7
4.6
66.3
1.2
56.3 -25.2
11.0
23.8
7.1
0.6
10.0
-8.3
-7.7
1. The estimates under the contribution columns are also percent changes.
2. Exports and imports of certain goods, primarily military equipment purchased and sold by the
Federal Government, are included in services.
3. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and
of nondurable nonautomotive consumer goods.
Note. Percent changes are from NIPA table 4.2.1, contributions are from NIPA table 4.2.2, and shares
are calculated from NIPA table 4.2.5.
Real export growth slowed, increasing 2.8 percent in
the first quarter after increasing 6.5 percent in the
fourth quarter.
Exports of goods increased 1.5 percent after increasing
3.9 percent. The slowdown reflected a downturn in
nonautomotive capital goods and a larger decrease in
automotive vehicles, engines, and parts. In contrast,
both exports of nonautomotive consumer goods and
exports of foods, feeds, and beverages turned up.
Exports of services decelerated, increasing 5.8 percent
after increasing 13.2 percent. The deceleration re
flected a slowdown in travel by foreigners in the
United States and a deceleration in “other” private ser
vices.
Real imports decreased 2.6 percent after decreasing 1.4
percent.
Imports of goods decreased 3.6 percent after decreas
ing 2.6 percent. Imports of nonautomotive consumer
goods turned down, and imports of petroleum and
products slowed. In contrast, imports of nonpetro
leum industrial supplies and materials and “other”
imports decreased less in the first quarter than in the
fourth quarter.
Imports of services slowed. Imports of “other” private
services decelerated. In contrast, travel by U.S. citizens
abroad decreased by less than in the fourth quarter.
Chart 5. Real Exports and Imports of Goods
and Services
P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
24
■ Exports I Imports
18
j ____ i
2004
2005
U.S. Bureau of Economic Analysis
2006
2007
2008
June 2008
7
S u r v e y o f C u r r e n t B u s in e s s
G overnm en t Spending
Table 7. Real Government Consumption Expenditures
and Gross Investment (CEGI)
[Seasonally adjusted at annual rates]
Share of
currentdollar
CEGI
(percent)
Change from
preceding period
(percent)
2008
I
2007
II
Contribution to percent
change in real CEGI
(percentage points)
2007
2008
III
IV
I
2.0
II
III
4.1
3.8
2008
IV
I
2.0
2.0
G overnm ent consum ption expen
ditures and gross inve s tm e n t1
100.0
4.1
3.8
2.0
Consumption expenditures
Gross investment......................
83.0
17.0
3.3
7.9
3.5
5.2
2.0
3.1
1.9 -3.5
2.73 2.89
1.35 0.90
F e d e ra l....................................................
36.2
6.0
7.1
0.5
4.4
2.15
2.54
0.19
1.56
National d e fe n s e ............................
24.7
8.5
10.1
-0 .5
5.6
2.04
2.41 -0.1 3
1.36
Consumption expenditures
Gross investment......................
21.7
2.9
8.7
7.6
9.6
1.3
13.7 -12.7
5.8 1.81
4.6 0.23
2.01 0.28
0.40 -0.41
1.22
0.13
Nondefense.......................................
11.6
0.9
0.13
0.32
0.21
1.63 2.57
0.33 -0.62
1.1
2.8
1.8
10.2 -0.9
2.0
1.4 14.9 -4.7
2.2
7.3
1.6 -0.09 0.20
2.7 0.20 -0.07
0.22 0.17
0.10 0.04
State and local......................................
63.8
3.0
1.9
2.8
0.6
1.93
1.25
1.76
Consumption expenditures...........
Gross investment.........................
51.1
12.7
2.0
7.2
1.3
4.4
2.2 2.3 1.01
5.0 -5.9 0.92
0.67
0.57
1.12 1.17
0.63 -0.79
Consumption expenditures
Gross investment......................
0.11
Growth in real government spending was 2.0 percent
in the first quarter, unchanged from the fourth quar
ter. Federal government spending picked up, but state
and local government spending slowed.
Federal government spending increased 4.4 percent,
following an increase of 0.5 percent. The pickup re
flected an upturn in spending for national defense.
Nondefense spending slowed.
State and local government spending decelerated, re
flecting a downturn in gross investment.
0.39
1. The estimates under the contribution columns are also percent changes.
Percent changes are from NIPA table 3.9.1, contributions from NIPA table 3.9.2, and shares are
calculated from NIPA table 3.9.5.
N o te .
Chart 6. Real Government Consumption Expenditures
and Gross Investment
Government Spending
“Government consumption expenditures and gross invest
ment,” or “government spending,” consists of two compo
nents: (1) consumption expenditures by federal government
and by state and local governments and (2) gross investment
by government and government-owned enterprises.
Government consumption expenditures consists of the
goods and services that are produced by general government
(less any sales to other sectors and investment goods pro
duced by government itself). Governments generally pro
vide services to the general public without charge. The value
of government production—that is, government’s gross out
put— is measured as spending for labor and for intermediate
goods and services and a charge for consumption of fixed
capital.1
Gross investment consists of new and used structures
(such as highways and dams) and equipment and software
purchased or produced by government and governmentowned enterprises.
Government consumption expenditures and gross invest
ment excludes current transactions of government-owned
enterprises, current transfer payments, interest payments,
subsidies, and transactions in financial assets and nonpro
duced assets, such as land.
P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
Based on seasonally adjusted annual rates
-2
J ____ L
-4
2004
2005
-I--------U
2006
2007
C o n t r i b u t io n s t o t h e in c r e a s e in 2 0 0 8 :1
:Nondefense spending:
State and local government spending
1. Capital services represents a partial measure of the services provided by
government-owned fixed capital.
-1
0
1
Percentage points at an annual rate
U.S. Bureau of Economic Analysis
2008
June 2008
GDP and the Economy
8
Prices
Table 8. Prices for Gross Domestic Purchases
[Percent change at annual rates; based on seasonally adjusted index numbers (2000=100)]
Contribution to percent
change in gross
domestic purchases prices
(percentage points)
Change from
preceding period
(percent)
2007
Gross dom estic p u rchases1......................
2007
2008
2008
II
III
IV
I
II
III
IV
I
3.8
1.8
3.7
3.5
3.8
1.8
3.7
3.5
3.5
2.84
1.21
2.64
2.32 -
Personal consum ption exp end itures ..........
4.3
1.8
3.9
Durable goods............................................
Nondurable goods......................................
Services.....................................................
-1.4
10.0
2.6
-1.8
1.1
2.8
-1.7
7.1
3.5
-0.2 -0.11 -0.13 -0.12 -0.01
6.6 1.89 0.22 1.37 1.28
2.6 1.06 1.12 1.40 1.06
-1 .0 -0 .0 5 -0 .0 5
0.12 -0 .1 4
Gross private dom estic investm ent.............
-0 .4
-0 .3
0.8
Fixed investment........................................
Nonresidential........................................
Structures...........................................
Equipment and software.....................
Residential.............................................
Change in private inventories.....................
-0.3
0.0
-1.1
0.5
-0.8
-0.5
-0.6
0.5
-1.1
-0.3
0.7
1.1
3.2
0.1
-0.4
G overnment consumption expenditures
and gross investm ent....................................
b.b
3.2
b.2
6.9
1.00
0.b9
0.96
1.28
Federal.......................................................
National defense....................................
Nondefense............................................
State and local...........................................
3.8
4.1
3.3
6.5
1.6
1.9
1.1
4.2
2.5
3.0
1.3
6.8
6.1
5.8
6.6
7.4
0.26
0.18
0.07
0.74
0.11
0.09
0.02
0.48
0.17
0.14
0.03
0.79
0.41
0.27
0.14
0.87
4.8
49.6
1.5
4.8
-5.2
1.9
4.0
29.3
2.3
4.2
23.9
2.2
0.44 0.44
2.02 -0.27
1.32 1.58
0.38
1.37
1.97
0.39
1.21
1.86
4.7
51.3
1.4
4.7
1.2
2.6
4.7
-6.7
2.0
1.4
1.5
1.0
3.6
24.9
2.5
4.0
2.3
2.4
4.8
18.6
2.1
3.7
2.0
2.6
-0.5 -0.04 -0.07 0.10
0.2 0.00 -0.06 0.12
2.0 -0.04 0.02 0.11
-0.7 0.03 -0.07 0.01
-2.3 -0.04 -0.01 -0.02
-0.01 0.02 0.02
-0.07
0.020.07
-0.05
-0.09
-0.07
Addenda:
Gross domestic purchases:
Food...........................................................
Energy goods and services........................
Excluding food and energy.........................
Personal consumption expenditures (PCE):
Food...........................................................
Energy goods and services........................
Excluding food and energy.........................
Market-based PCE.....................................
Excluding food and energy.....................
1. The estimates under the contribution columns are also percent changes.
N ote . Most percent changes are from NIPA table 1.6.7; percent changes for PCE for food and energy
goods and services and for PCE excluding food and energy are calculated from index numbers in NIPA
table 2.3.4. Contributions are from NIPA table 1.6.8.
Note on Prices
BEA’s gross domestic purchases price index is the most com
prehensive index of prices paid by U.S. residents for all
goods and services purchased in the United States. It is
derived from prices of consumer spending, private invest
ment, government spending, and prices paid for imports.
The GDP price index measures the prices paid for all the
goods and services produced in the United States, and it
includes the prices of goods and services that are exported.
The difference between the gross domestic purchases
price index and the GDP price index reflects the differences
between the imports prices (included in the gross domestic
purchases index) and the exports prices (included in the
GDP price index).
Prices paid by U.S. residents, as measured by the price
index for gross domestic purchases, slowed slightly in
the first quarter, increasing 3.5 percent after increasing
3.7 percent in the fourth quarter. About 0.3 percent
age point of the first-quarter increase was due to the
federal government pay increases.
Consumer prices, as measured by the price index for
consumer spending slowed, primarily reflecting decel
erations in prices paid for medical care services and
for gasoline, fuel oil, and other energy goods.
Prices of nonresidential fixed investment decelerated.
Prices paid for structures slowed, and prices for equip
ment and software turned down.
Residential investment prices decreased more in the
first quarter than in the fourth quarter. It was the larg
est percentage drop in residential prices since the third
quarter of 1970.
Prices paid by government accelerated. Prices paid by
the federal government accelerated, mainly reflecting
the pay raise for federal civilian and military person
nel, which is treated as an increase in the price of em
ployee services purchased by the federal government.
Prices paid by state and local government also acceler
ated.
Consumer prices excluding food and energy, a mea
sure of the “core” rate of inflation, increased 2.1 per
cent after increasing 2.5 percent.
The GDP price index increased 2.6 percent, 0.9 per
centage point less than the increase in the price index
for gross domestic purchases, reflecting a larger in
crease in import prices than in export prices.
Chart 7. Gross Domestic Purchases Prices
P e r c e n t c h a n g e f r o m t h e p r e c e d in g q u a r t e r
5 --------------------------------------■ Total I Less food and energy
2004
2005
2006
2007
2008
N o te . Percent change at annual rate from preceding quarter; based on seasonally adjusted
index numbers (2000=100).
U.S. Bureau of Economic Analysis
June 2008
S u r v e y o f C u r r e n t B u s in e s s
9
R evisions
Table 9. Advance and Preliminary Estimates for the First Quarter of 2008
[Seasonally adjusted at annual rates]
Change from
preceding quarter
(percent)
Contribution to percent
change in real GDP
(percentage points)
Prelim
Prelim
inary
inary
Ad Prelim
Ad Prelim
minus
minus
vance inary
vance inary
ad
ad
vance
vance
Gross dom estic product (G D P )1..................
0.6
0.9
Personal consumption e xp end itures..................
1.0
1.0
0.3
0.0
Durable goods..................................................
Nondurable goods...........................................
-6.1
-1.3
-6.2
-0.3
-0.1
1.0
0.6
0.9
0.70
0.3
0.02
-0.48 -0.49
-0.27 -0.07
-0.01
0.20
0.68
Services..........................................................
3.4
3.0
-0.4
1.43
1.25
-0 .1 8
Gross private dom estic investm ent....................
-4 .7
-6 .5
-1 .8
-0 .7 0
-0 .9 8
-0 .2 8
Fixed investment..............................................
Nonresidential..............................................
Structures.................................................
Equipment and software...........................
Residential....................................................
Change in private inventories...........................
-9.7
-2.5
-6.2
-0.7
-26.7
-7.8
-0.2
1.1
-0.9
-25.5
1.9
2.3
7.3
-0.2
1.2
-1.50 -1.20
-0 .2 8 -0.03
0.04
-0.23
-0.05 -0.07
-1.23 -1.17
0.81
0.21
0.30
0.80
0.58
5.5
2.8
1.5
5.8
-2.6
-3.6
2.8
-2.7
-3.7
-0.3
0.67 0.34
0.45 0.13
0.22 0.21
-0.44
0.46
0.54
-0.35
-0.09 -0.08
-0.33
-0.32
-0.01
0.90
0.89
0.01
Net exports of goods and s e rv ic e s .....................
Exports.............................................................
Goods...........................................................
Services........................................................
Imports.............................................................
Goods...........................................................
Services........................................................
0.22
5.2
6.1
2.5
2.4
3.5
-5.1
-6.0
-0.7
The upward revision to consumer spending for non
durable goods mainly reflected food and “other” non
durable goods.
0.25
0.27'
-0.02
0.06
-0.60
G overnm ent consum ption expenditures and
gross investm ent....................................................
2.0
2.0
0.0
0.39
0.38
-0.01
Federal.............................................................
National defense...........................................
Nondefense..................................................
State and local.................................................
4.6
6.0
1.8
0.5
4.4
5.6
1.8
0.6
-0.2
-0.4
0.0
0.1
0.32
0.28
0.04
0.07
0.31
0.27
0.04
0.08
-0.01
-0.01
0.00
0.01
-0.2
3.5
2.6
0.7
3.5
2.6
0.9
0.0
0.0
-0.21
0.69
0.90
Addenda:
Final sales of domestic product........................
Gross domestic purchases price index............
GDP price index...............................................
The 0.9 percent preliminary estimate of real GDP
growth is 0.3 percentage point more than the “ad
vance” estimate. The average revision (without regard
to sign) between the “advance” and “prelim inary” es
timates is 0.5 percentage point. The upward revision
reflected a downward revision to im ports and upward
revisions to nonresidential structures and to con
sumer spending for nondurable goods that exceeded
downward revisions to inventory investment, exports,
and consumer spending for services.
The downward revision to consumer spending for ser
vices mainly reflected brokerage and investment coun
seling.
The upward revision to nonresidential structures
mainly reflected commercial and health care struc
tures, “other” structures, and power and com m unica
tion structures.
The downward revision to inventory investment pri
marily reflected wholesale and retail trade inventories.
The upward revision to exports was mostly to goods
and was widespread.
The downward revision to imports was mostly to
goods and was widespread.
1. The estimates for GDP under the contribution columns are also percent changes.
Source Data for the Preliminary Estimates
Personal Income for the Fourth Quarter of 2007
Personal consumption expenditures: Retail sales for January,
With the release of the prelim inary estimates of GDP, BEA
also releases revised estimates of various income-related
measures for the previous quarter. This revision reflects the
incorporation of newly available fourth-quarter tabulations
from the Quarterly Census of Employment and Wages from
the Bureau of Labor Statistics.
Wage and salary disbursements increased $85.7 billion in
the fourth quarter, an upward revision of $26.0 billion. Per
sonal current taxes increased $22.9 billion, an upward revi
sion of $4.7 billion. Contributions for government social
insurance, which are subtracted in calculating personal
income, increased $10.9 billion, an upward revision of $3.5
billion. As a result of these revisions,
• Personal income increased $145.9 billion, an upward revi
sion of $24.3 billion.
• Disposable personal income increased $123.0 billion, an
upward revision of $19.6 billion.
• Personal saving decreased $25.1 billion, $19.6 billion less
of a decrease than previously published.
• The personal saving rate was 0.2 percent, an upward revi
sion of 0.2 percentage point.
February, and March (revised). M otor vehicle registrations
for January and February (revised) and March (new). Retail
natural gas sales for January (revised) and February (new).
Nonresidential fixed investment: Construction put in place
for January and February (revised) and March (new). M an
ufacturers’ shipments (M3) of m achinery and equipment
for January, February, and March (revised). Exports and
im ports for February (revised) and March (new).
Residential investment: Construction put in place for Jan
uary and February (revised) and M arch (new).
Change in private inventories: M anufacturers’ inventories
for January, February, and March (revised) and trade inven
tories for January and February (revised) and March (new).
Exports and imports of goods and services: International
transactions for February (revised) and March (new).
Government consumption expenditures and gross invest
ment: State and local construction put in place for January
and February (revised) and March (new).
GDP and the Economy
10
June 2008
C orporate Profits
Table 10. Corporate Profits
Profits from current production increased $5.2 billion,
or 0.3 percent at a quarterly rate, in the first quarter,
following a decrease of $52.9 billion in the fourth
quarter.
[S e a s o n a lly a d ju s te d ]
B illio n s o f d o lla rs (a n n u a l rate)
P e rc e n t c h a n g e fro m
p re c e d in g q u a rte r
C h a n g e fro m
Level
(q u a rte rly rate)
p re c e d in g q u a r te r
2008
2007
1
II
III
2007
2008
IV
I
II
III
2008
IV
Domestic profits of financial corporations decreased
$3.0 billion, or 0.7 percent, after decreasing $74.4 bil
lion.
I
C urrent production measures:
C o rp o ra te p r o f it s ................................
1 ,5 7 4 .2
947
-2 0 .5
-5 2 .9
5 .2
6.1
-1 .2
-3 .3
0 .3 '
D o m e s tic in d u s trie s ......................
1 ,1 7 2 .4
7 8 .0 - 4 6 .9
- 1 0 8 .7
0 .2
6 .2
-3 .5
-8 .5
0 .0
F in a n c ia l......................................
4 1 1 .5
5 2 .7 - 3 2 .5
-7 4 .4
- 3 .0
11 .2
N o n f in a n c ia l...............................
7 6 0 .9
2 5 .3 - 1 4 . 4
-3 4 .3
3 .2
3 .2
- 1 .8
-4 .3
0 .4
R e s t o f th e w o r ld ...........................
4 0 1 .8
16.7
2 6 .4
55 .8
5 .0
5 .6
8 .4
16.4
1.2 s
533.1
3 3 .9
2 7 .6
12.3
10 .6
7 .6
5 .7
2 .4
- 6 .2 -1 5 .2
-0 ./'
Profits from the rest of the world increased $5.0 bil
lion, or 1.2 percent, after increasing $55.8 billion. In
the first quarter, receipts increased $10.6 billion, and
payments increased $5.6 billion.
R e c e ip ts fro m th e re s t o f th e
w o r ld ....................................
2 .0
L e s s : P a y m e n ts to th e re s t o f
th e w o r ld ............................
1 3 1 .3
17 .2
1.1
- 4 3 .4
5 .6
11.4
L e s s : T a xes o n c o rp o ra te in c o m e
4 1 7 .5
3 7 .6 - 2 0 .7
-1 5 .0
-3 6 .9
8 .3
-A 2
0 .7 - 2 5 .7
-3 .2
-8 .1
E q u a ls : P ro fits a fte r ta x ...................
1 ,1 5 6 .6
5 7 .0
0 .3
-3 7 .9
4 2 .0
5.2
0 .0
-3 .3
3 .8
N e t d iv id e n d s .................................
8 4 6 .4
2 4 .8
2 3 .5
2 1 .7
17 .0
3 .3
3 .0
2 .7
2 .0
c u rre n t p r o d u c t io n ..............
3 1 0 .2
3 2 .2 - 2 3 .3
- 5 9 .5
2 5 .0
9 .6
- 6 .3 -1 7 .3
8 .8
N e t c a s h f l o w ......................................
1 ,2 4 1 .7
3 7 .4 -2 1 .1
-5 5 .7
2 9 .6
3 .0
-1 .6
-4 .4
1 ,6 4 7 .9
1 0 1 .2 - 1 7 . 4
- 4 8 .9
- 1 6 2 .6
5 .7
-0 .9
-2 .6
- 9 .0
-1 1 .8
4 .5
Taxes on corporate income decreased $36.9 billion, or
8.1 percent, following a decrease of $15.0 billion.
U n d is trib u te d p ro fits fro m
2 .4 ,
After-tax profits increased $42.0 billion, or 3.8 per
cent, after decreasing $37.9 billion.
industry profits:
P ro fits w ith IV A ..............................
D o m e s tic in d u s tr ie s .................
1 ,2 4 6 .2
8 4 .4 - 4 3 .8
- 1 0 4 .6
- 1 6 7 .5
5 .7
-2 .8
-6 .9
F in a n c ia l.................................
4 1 8 .7
5 3 .4 - 3 2 .2
- 7 3 .9
- 2 1 .6
10.8
- 5 .9
- 1 4 .4
-4 .9
N o n fin a n c ia l...........................
8 2 7 .5
3 1 .0 - 1 1 . 6
-3 0 .7
-1 4 5 .9
3.2
-1 .1
-3 .1
- 1 5 .0
R e s t o f th e w o r ld ......................
4 0 1 .8
16 .7
2 6 .4
5 5 .8
5 .0
5 .6
8 .4
16.4
1.2
1 1 5 .7 - 5 1 .8
0 .2
- 1 3 3 .3
6 .4
-2 .7
0 .0
-7 .1
5.7
-2 .2
1.1
-6 .8
Undistributed corporate profits (after-tax profits less
dividends) increased $25.0 billion, or 8.8 percent, fol
lowing a decrease of $59.5 billion.
Addenda:
P ro fits b e fo re ta x (w ith o u t IV A a n d
C C A d j) ..............................................
1 ,7 4 6 .6
P ro fits a fte r ta x (w ith o u t IV A a n d
C C A d j) ..............................................
1 ,329.1
78.1
- 3 1 .2
1 5.3
-9 6 .4
I V A ...........................................................
-9 8 .7
- 1 4 .5
3 4 .4
-4 9 .1
-2 9 .3
C C A d j....................................................
- 7 3 .8
-6 .5
- 3 .0
-4 .1
1 6 7 .7
N ote. Levels of these and oth e r profits series are
shown in NIPA tables 1 .1 2 ,1 .1 4 ,1 .1 5 , and 6.16D.
IVA
Net cash flow from current production, a profits-related measure of internally generated funds available
for investment, increased $29.6 billion, or 2.4 percent,
after decreasing $55.7 billion.
Inventory valuation adjustm ent
CC Adj
Domestic profits of nonfinancial corporations in
creased $3.2 billion, or 0.4 percent, following a de
crease of $34.3 billion.
C apital consum ption adjustm ent
The Effect of the Economic Stimulus Act of 2008 on Corporate Profits
As of the first quarter of 2008, NIPA corporate profits
reflect bonus depreciation provisions and higher ceilings
for small business expenses provided by the Economic
Stimulus Act of 2008. The law offers a first-year bonus
depreciation of 50 percent for qualifying property pur
chased and put in place in 2008. It also raises the ceiling for
small business expenses under Internal Revenue Code Sec
tion 179 from $128,000 to $250,000. Because the deduct
ible amount summed across 2008 and future tax years
equals the cost of the property, the accelerated deductions
in 2008 will lead to lower deductions in the future.
Profits from current production were not affected by the
act, because they do not depend on the depreciationaccounting practices used for federal taxes. This profits
measure includes inventory valuation and capital con
sumption adjustments to put it on an economic-accounting basis, not a tax basis. But industry profits adjusted for
inventory valuations and profits before taxes are affected
by the inventory and depreciation-accounting practices
used for federal corporate taxes.
The act’s provisions increased the depreciation that cor
porations could claim in the first quarter by $139.7 billion,
thus reducing profits before taxes by the same amount. As
a result, taxes on profits was reduced $37.8 billion, and
profits after tax was reduced $102.0 billion.
The capital consumption adjustment (CCAdj) is the dif
ference between the tax-based depreciation and economicaccounting depreciation. Because the tax-based deprecia
tion estimate was raised $139.7 billion, the CCAdj
increased by the same amount.
Historically, similar adjustments were made for the lob
Creation and Worker Assistance Act of 2002 (see the April
2002 S u r v e y o f C u r r e n t B u s i n e s s ) and the lobs and Growth
Tax Relief Reconciliation Act of 2003 (see the luly 2003
S u rv e y ).
The effects are net of offsetting bonus depreciation that
was claimed in earlier years. See the table “Net Effects of
the Tax Acts of 2002, 2003, and 2008 on Selected Measures
of Corporate Profits” at <www.bea.gov/national/xls/
technote_tax_acts.xls>.
June 2008
11
Government Receipts and Expenditures
F ir s t Q u a r te r o f 2 0 0 8
N
ET GOVERNMENT saving, the difference be
tween current receipts and current expenditures
o f the federal governm ent and state and local govern
m ents, was -$375.6 billion in the first quarter o f 2008,
decreasing $115.3 billion from -$260.3 billion in the
fo u rth q uarter o f 2007.
Net federal governm ent saving was -$311.9 billion
in the first quarter, decreasing $93.4 billion from
-$218.5 billion in the fourth quarter (see page 12).
C urrent receipts tu rn ed down, and current expendi
tures accelerated.
Net state and local governm ent saving was -$63.7
billion in the first quarter, decreasing $21.8 billion
from -$41.9 billion in the fourth quarter (see page 13).
C u rren t receipts accelerated, and current expenditures
decelerated.
Net borrow ing was $567.1 billion in the first q u ar
ter, increasing $105.4 billion from $461.7 billion in the
fo u rth quarter. Federal governm ent net borrow ing was
$374.5 billion in the first quarter, increasing $83.8 bil
lion from $290.7 billion in the fourth quarter. State
and local governm ent net borrow ing was $192.7 bil
lion in the first quarter, increasing $21.6 billion from
$171.1 billion in the fourth quarter.
Chart 1. Government Fiscal Position
C u r r e n t R e c e ip ts , C u r r e n t E x p e n d it u r e s , a n d N e t G o v e r n m e n t S a v in g
Billions of dollars
N e t S a v in g
Billions of dollars
100
-6 0 0
2004
2005
2006
2007
2008
T o ta l R e c e ip ts ,T o ta l E x p e n d itu r e s , a n d N e t L e n d in g o r B o r r o w in g
Billions of dollars
Table 1. Net Government Saving and Net Lending or Net Borrowing
[Billions of dollars, seasonally adjusted at annual rates]
Level
C h a n g e f r o m p r e c e d in g q u a r t e r
2007
2008
I
II
III
2008
IV
I
C u r r e n t r e c e i p t s .............................................
4 ,2 3 7 .7
8 1 .6
1 9 .2
3 7 .2
-2 .6
C u r r e n t e x p e n d i t u r e s ..................................
4 ,6 1 3 .3
5 0 .6
6 9 .2
5 4 .2
1 1 2 .7
N e t g o v e r n m e n t s a v i n g .........................
-3 7 5 .6
3 0 .9
-4 9 .8
-1 7 .1
-1 1 5 .3
F e d e r a l ............................................................
-3 1 1 .9
1 1 .7
-2 3 .5
1 1 .8
-9 3 .4
N e t L e n d in g o r N e t B o r r o w in g
Billions of dollars
1 00
S t a t e a n d l o c a l ............................................
-6 3 .7
1 9 .2
-2 6 .4
-2 8 .9
-2 1 .8
N e t le n d in g o r n e t b o r r o w in g ( - ) . . .
-5 6 7 .1
3 0 .9
-6 4 .2
- 2 3 .9
-1 0 5 .4
F e d e r a l ............................................................
-3 7 4 .5
1 0 .5
-3 8 .6
1 3 .0
-8 3 .8
S t a t e a n d l o c a l ............................................
-1 9 2 .7
2 0 .4
-2 5 .6
-3 7 .0
-2 1 .6
-6 0 0
Debasis C h a u d h u ri prepared this article.
2004
2005
2006
NOTE. All estimates seasonally adjusted at annual rates.
U.S. Bureau of Economic Analysis_________________
2007
2008
Government Receipts and Expenditures
12
June 2008
Federal G overnm en t
Table 2. Federal Government Current Receipts and Expenditures
Personal current taxes turned down in the first quarter
as a result of a downturn in nonwithheld income
taxes.
[Billions of dollars, seasonally adjusted at annual rates]
Level
C h a n g e f r o m p r e c e d in g q u a r t e r
2007
2008
1
II
III
2008
IV
Taxes on corporate income decreased more in the first
quarter than in the fourth quarter as a result of the
Economic Stimulus Act of 2008 that provided a firstyear bonus depreciation of 50 percent for qualifying
property purchased in 2008 and raised the ceiling for
small business expensing (see the box on the effect of
this act on corporate profits on page 10).
I
C u r r e n t r e c e i p t s .........................................
2 ,6 9 8 .0
5 0 .4
1 9 .3
2 5 .3
-1 6 .7
C u r r e n t t a x r e c e i p t s ..................................................
1 ,6 4 1 . 2
4 4 .2
4 .0
1 2 .9
-3 8 .9
-5 .3
P e r s o n a l c u r r e n t t a x e s ........................................
1 ,1 8 6 . 6
1 2 .9
1 9 .0
2 1 .2
T a x e s o n p r o d u c t i o n a n d i m p o r t s ...............
1 0 4 .5
0 .4
3 .1
0 .8
2 .3
T a x e s o n c o r p o r a t e i n c o m e ............................
3 3 6 .4
3 1 .0
-1 8 .8
-1 3 .4
-3 2 .7
T a x e s f r o m t h e r e s t o f t h e w o r l d ..................
1 3 .7
0 .0
0 .6
4 .4
-3 .3
9 8 9 .7
2 .3
1 1 .0
1 0 .8
2 1 .6
0 .2
Taxes from the rest of the world turned down, follow
ing a fourth-quarter boost in taxes paid by U.S. affili
ates of foreign corporations.
C o n t r i b u t i o n s f o r g o v e r n m e n t s o c ia l
i n s u r a n c e .....................................................................
I n c o m e r e c e i p t s o n a s s e t s ...................................
2 5 .6
0 .5
0 .2
0 .1
C u r r e n t t r a n s f e r r e c e i p t s ........................................
4 2 .7
0 .4
0 .9
2 .0
1 .3
C u r r e n t s u r p l u s o f g o v e r n m e n t e n t e r p r is e s
-1 .2
3 .1
3 .2
-0 .6
-0 .8
C u r r e n t e x p e n d i t u r e s ............................
3 ,0 0 9 .9
3 8 .7
4 2 .8
1 3 .5
7 6 .7
C o n s u m p t io n e x p e n d i t u r e s ..................................
9 0 0 .8
2 0 .0
1 7 .9
9 .2
2 3 .9
N a t io n a l d e f e n s e ...................................................
6 1 3 .9
1 8 .1
1 5 .8
6 .8
1 7 .5
2 .1
2 .4
6 .4
2 5 .5
1 8 .1
3 2 .0
Contributions for government social insurance accel
erated. Social security contributions accelerated as the
maximum taxable wage base increased to $102,000 in
2008 from $97,500 in 2007. Contributions for supple
mentary medical insurance accelerated mainly be
cause the monthly premiums for Medicare Part B
increased.
N o n d e f e n s e ...............................................................
2 8 6 .9
2 .0
C u r r e n t t r a n s f e r p a y m e n t s ...................................
1 ,7 4 6 . 5
5 .3
G o v e r n m e n t s o c ia l b e n e f i t s ............................
1 ,3 2 1 . 6
2 2 .9
1 4 .9
4 .8
3 0 .5
T o p e r s o n s ..............................................................
1 ,3 1 7 . 8
2 2 .8
1 4 .8
4 .9
3 0 .3
T o t h e r e s t o f t h e w o r l d ..................................
3 .8
0 .1
0 .1
-0 .2
0 .3 '
O t h e r c u r r e n t t r a n s f e r p a y m e n t s ..................
4 2 4 .9
-1 7 .5
1 0 .7
1 3 .2
1 .5
0 .7
G r a n t s - in - a id t o s t a t e a n d lo c a l
g o v e r n m e n t s ...................................................
3 8 1 .4
2 .1
3 .0
1 .6
T o t h e r e s t o f t h e w o r l d ..................................
4 3 .5
-1 9 .7
7 .8
1 1 .6
I n t e r e s t p a y m e n t s ......................................................
3 1 4 .6
1 3 .1
-0 .1
-1 4 .6
S u b s i d i e s .........................................................................
4 8 .0
0 .3
- 0 .7
0 .9
0 .0
0 .0
0 .0
0 .0
0 .0
-9 3 .4
L e s s : W a g e a c c r u a ls le s s d is b u r s e m e n t s
0 .8 ,
1 9 .9
0 .9 1
N e t f e d e r a l g o v e r n m e n t s a v i n g ...................
-3 1 1 .9
1 1 .7
-2 3 .5
1 1 .8
S o c ia l in s u r a n c e f u n d s ..........................................
-5 .9
-1 7 .8
-2 .3
1 0 .6
2 .7
O t h e r ...................................................................................
-3 0 6 .0
2 9 .5
-2 1 .2
1 .2
-9 6 .1
T o t a l r e c e i p t s .........................................................
2 ,7 2 5 .3
5 7 .1
1 6 .4
2 7 .9
-1 7 .7
C u r r e n t r e c e i p t s ................................................
2 ,6 9 8 .0
5 0 .4
1 9 .3
2 5 .3
-1 6 .7
C a p it a l t r a n s f e r r e c e i p t s ...............................
2 7 .3
6 .7
-2 .8
2 .4
-0 .9
T o t a l e x p e n d i t u r e s .............................................
3 ,0 9 9 .8
4 6 .6
5 5 .0
1 4 .8
6 6 .2
C u r r e n t e x p e n d i t u r e s ......................................
3 ,0 0 9 .9
3 8 .7
4 2 .8
1 3 .5
7 6 .7
G r o s s g o v e r n m e n t i n v e s t m e n t ................
1 2 2 .7
3 .0
2 .8
-1 .8
1 .9
C a p i t a l t r a n s f e r p a y m e n t s ..........................
8 8 .5
7 .5
5 .7
8 .2
-5 .0
N e t p u r c h a s e s o f n o n p ro d u c e d a s s e ts
- 7 .7
-1 .0
4 .5
-3 .9
-6 .0
L e s s : C o n s u m p t i o n o f f ix e d c a p i t a l ......
1 1 3 .5
1 .6
0 .7
1.1
1 .5
N e t l e n d i n g o r n e t b o r r o w i n g ( - ) ................
-3 7 4 .5
1 0 .5
-3 8 .6
1 3 .0
-8 3 .8
Addenda:
Defense expenditures accelerated. Compensation of
employees was boosted $5.3 billion because of the Jan
uary 2008 pay raise. Spending for services accelerated,
and spending for durable goods turned up.
Nondefense expenditures accelerated, primarily as a
result of the January 2008 pay raise that boosted com
pensation $3.5 billion.
Government social benefits to persons accelerated, re
flecting an acceleration in benefits for social security
and an upturn in benefits for Medicare. A 2.3 percent
cost-of-living adjustment boosted benefits for social
security, veterans pensions, supplemental security in
come, and other programs by $15.5 billion.
Other current transfer payments to the rest of the
world decelerated, reflecting a downturn in payments
to Afghanistan.
Interest payments turned up, reflecting an upturn in
interest paid to persons and business on Treasury In
flation-Protected Securities.
F e d e r a l G o v e r n m e n t E s tim a te s
Estimates of federal government current receipts, current
expenditures, and net federal government saving are based
on data from the federal budget, from the Monthly Treasury
Statement and other reports from the Department of the
Treasury, and from other federal government agencies.
Total receipts, total expenditures, and net lending or net
borrowing, which are alternative measures of the federal fis
cal position, are based on these same sources.
Quarterly and annual estimates are published monthly in
NIPA table 3.2. Detailed annual estimates of these transac
tions by component are published annually in NIPA tables
3.4-3.8, 3.12, and 3.13. Detailed quarterly estimates are
available in underlying NIPA tables at <www.bea.gov/bea/
dn/nipaweb/nipa_underlying/Index.asp>.
June 2008
S u r v e y o f C u r r e n t B u s in e s s
13
S tate and Local G overnm en t
Table 3. State and Local Government Current Receipts and Expenditures
[Billions of dollars, seasonally adjusted at annual rates]
Level
C h a n g e f r o m p r e c e d in g q u a r t e r
2008
1
2007
II
2008
IV
III
I
C u r r e n t r e c e i p t s .............................................
1 ,9 2 1 .0
3 3 .3
2 .9
1 3 .4
1 4 .8
C u r r e n t t a x r e c e i p t s ......................................................
1 ,3 1 5 .0
2 8 .5
-3 .0
9 .0
9 .9
P e r s o n a l c u r r e n t t a x e s ..........................................
3 2 9 .5
1 0 .0
-6 .8
1 .8
8 .6
T a x e s o n p r o d u c t io n a n d i m p o r t s ...................
9 2 9 .7
1 2 .8
7 .2
9 .5
7 .2
T a x e s o n c o r p o r a t e i n c o m e ................................
5 5 .9
5 .6
-3 .3
-2 .4
-5 .8
2 6 .2
0 .1
0 .0
0 .1
0 .2
C o n t r i b u t i o n s f o r g o v e r n m e n t s o c ia l
i n s u r a n c e .......................................................................
In c o m e r e c e ip t s o n a s s e t s .......................................
9 2 .4
0 .6
1.1
0 .8
1 .6
C u r r e n t t r a n s f e r r e c e i p t s ............................................
5 0 0 .5
4 .3
5 .2
3 .9
3 .5
F e d e r a l g r a n t s - i n - a i d ...............................................
3 8 1 .4
2 .1
3 .0
1 .6
0 .7
O t h e r ..................................................................................
1 1 9 .1
2 .3
2 .3
2 .2
2 .8
-1 3 .2
-0 .2
-0 .4
-0 .3
-0 .5
3 6 .7
C u r r e n t s u r p lu s o f g o v e r n m e n t e n t e r p r is e s
C u r r e n t e x p e n d i t u r e s ................................
1 ,9 8 4 .8
1 4 .1
2 9 .3
4 2 .3
C o n s u m p t io n e x p e n d i t u r e s ......................................
1 ,4 4 2 . 9
29.2
1 8 .4
3 2 .1
3 6 .5
G o v e r n m e n t s o c ia l b e n e f i t s .....................................
4 4 0 .2
-1 6 .6
1 0 .2
9 .2
-0 .7
In t e r e s t p a y m e n t s ..........................................................
1 0 1 .2
1 .3
0 .7
1.1
0 .8
S u b s i d i e s .............................................................................
0 .4
0 .0
0 .0
0 .0
0 .0
L e s s : W a g e a c c r u a ls le s s d i s b u r s e m e n t s ....
0 .0
0 .0
0 .0
0 .0
0 .0
N e t s t a t e a n d l o c a l g o v e r n m e n t s a v i n g . ..
-6 3 .7
1 9 .2
-2 6 .4
-2 8 .9
-2 1 .8
S o c ia l in s u r a n c e f u n d s ...............................................
6 .0
-0 .1
-0 .2
-0 .1
0 .1
O t h e r ......................................................................................
-6 9 .7
1 9 .4
-2 6 .2
-2 8 .8
-2 1 .9
T o t a l r e c e i p t s .............................................................
1 ,9 7 6 .1
4 0 .7
8 .0
1 0 .4
9 .7
C u r r e n t r e c e i p t s .....................................................
1 ,9 2 1 . 0
3 3 .3
2 .9
1 3 .4
1 4 .8
Personal current taxes accelerated in the first quarter,
reflecting an acceleration in state personal income
taxes.
Taxes on corporate income decreased more in the first
quarter than in the fourth quarter, reflecting the effect
of the Economic Stimulus Act of 2008.
Consumption expenditures accelerated, reflecting an
acceleration in spending for nondurable goods and
services.
Government social benefit payments turned down, re
flecting a downturn in Medicaid expenditures.
Gross government investment turned down, reflecting
a downturn in investment for structures.
Addenda:
C a p it a l t r a n s f e r r e c e i p t s ...................................
5 5 .1
7 .5
5 .0
-2 .9
-5 .1
T o t a l e x p e n d i t u r e s ................................................
2 ,1 6 8 .8
2 0 .4
3 3 .6
4 7 .3
3 1 .4
C u r r e n t e x p e n d i t u r e s .........................................
1 ,9 8 4 .8
1 4 .1
2 9 .3
4 2 .3
3 6 .7
G r o s s g o v e r n m e n t i n v e s t m e n t .....................
3 5 8 .4
9 .5
7 .4
8 .4
-1 .9
C a p it a l t r a n s f e r p a y m e n t s ...............................
1 1 .5
0 .0
0 .0
0 .0
0 .1
L e s s : C o n s u m p t io n o f f ix e d c a p i t a l ..........
1 8 5 .8
3 .2
3 .1
3 .4
3 .4
N e t l e n d i n g o r n e t b o r r o w i n g ( - ) ....................
-1 9 2 .7
2 0 .4
-2 5 .6
-3 7 .0
-2 1 .6
N e t p u r c h a s e s o f n o n p r o d u c e d a s s e ts
Estimates of State and Local Government Receipts and Expenditures
The estimates of state and local government current re
ceipts and expenditures and total receipts and expenditures
are mainly based on compilations of data for state and local
government finances. The Census Bureau produces the pri
mary source data: the census of governments that is con
ducted in years that end in a 2 or a 7 and the Government
Finances series of surveys for the other years. In addition,
other sources of Census Bureau data are from the Quarterly
Summary of State and Local Government Tax Revenue and
the monthly Value of Construction Put in Place. Data
sources from the Bureau of Labor Statistics include the
Quarterly Census of Employment and Wages and the
Employment Cost Index.
Quarterly and annual estimates are available monthly in
NIPA table 3.3. Detailed annual estimates of state and
local government transactions by component are available
annually in NIPA tables 3.4-3.8, 3.12, and 3.13. Detailed
quarterly estimates are available in underlying NIPA
tables at <www.bea.gov/bea/dn/nipaweb/nipa_underlying/
Index.aspX For a historical time series of reconciliations of
the NIPA estimates with the Census Bureau data from
Government Finances, see NIPA table 3.19.
BEA also prepares annual estimates of receipts and
expenditures of state governments and of local
governments.1 These estimates are available annually in
NIPA table 3.20 (state government receipts and expen
ditures) and in NIPA table 3.21 (local government receipts
and expenditures); see “Newly Available NIPA Tables” in
the October 2007 S u r v e y .
1. Bruce E. Baker, “Receipts and Expenditures o f State Governments and
o f Local Governments,” Survey 85 (October 2005): 5-10.
June 2008
14
U .S . T r a v e l a n d T o u r is m
S a te llite A c c o u n ts fo r 2 0 0 4 - 2 0 0 7
By Sarah R. Mattingly and Eric S. Griffith
HE TRAVEL and tourism industry— as m easured
by the real o u tp u t o f goods and services sold d i
rectly to visitors— grew for the sixth consecutive year
in 2007, according to the m ost recent statistics from
the travel and tourism satellite accounts o f the Bureau
o f Econom ic Analysis (BEA). These revised estimates
show increases in real direct o u tp u t o f 1.9 percent in
2007, 3.1 percent in 2006, and 2.9 percent in 2005.1
The slowdown in 2007 is larger than previously re
p o rted and reflects an upw ard revision o f 0.6 percent
age p o in t to grow th in 2006. Em ploym ent in the
tourism industry accelerated, increasing 1.7 percent in
2007 after increasing 0.6 percent in 2006 and 1.0 per
cent in 2005.
O ther highlights from the travel and tourism satel
lite accounts include the following:
• In b o u n d tourism grew 15.8 percent in 2007, and
o u tb o u n d tourism grew 4.8 percent. As a result, net
exports o f travel and tourism nearly tripled to $18.4
billion in 2007 from $6.7 billion in 2006.
• C urrent-dollar
total
tourism -related
outp u t
increased 5.8 percent to $1.32 trillion in 2007 from
$1.25 trillion in 2006.
• Prices for tourism goods and services increased for
the fifth consecutive year in 2007, increasing 3.6
percent after increasing 4.2 percent in 2006.
• Real o u tp u t slowed or tu rn ed dow n in 14 o f 24
com m odities in 2007, including traveler accom m o
dations, international passenger air transp ortation,
and gambling.
The travel and tourism estim ates o f o u tp u t and em
ploym ent for 2004-2007 have been revised. This revi
sion incorporates detailed statistics from the m ost
recent U.S. annual in p u t-o u tp u t (I-O ) tables, which
include data up to 2006, and sum m ary statistics from
the national incom e and product accounts (NIPAs),
which include data up to 2007. See the box “Data
Availability.”
The rem ainder o f this article includes a discussion
o f trends in travel and tourism o u tp u t and prices, the
com position o f tourism dem and, and tourism value
added and em ploym ent, followed by the core travel
and tourism account tables.
T
1. All measures o f tourism activity not identified as being in “real” terms
are current-dollar estimates.
Tren d s in Travel and Tou rism
O utp u t and Prices
Real o u tp u t. Real direct tourism o u tp u t— the value of
the tourism sector’s goods and services sold directly to
visitors— increased 1.9 percent in 2007, com pared
w ith 3.1 percent in 2006. The grow th in 2007 was the
weakest since 2002. The slowdown in 2007 was w ide
spread. G row th decelerated or tu rn ed dow n in m any
com ponents, including real sales o f traveler accom m o
dations (1.2 percent in 2007, com pared w ith 3.8 p er
cent in 2006), gasoline (-1.3 percent, com pared with
3.3 percent), food and beverage services (1.7 percent,
com pared w ith 3.2 percent), and international passen
ger air tran sp o rtatio n (2.7 percent, com pared w ith 8.2
percent). Partially offsetting this sluggishness, grow th
in dom estic passenger air transportation tu rn ed up
(2.5 percent in 2007, com pared w ith -0 .4 percent in
2006), and grow th in autom otive rental and leasing ac
celerated (7.5 percent, com pared w ith 0.3 percent) (ta
ble A). Transportation contributed m ost to the 1.9
percent grow th in real tourism output, accounting for
43 percent (0.84 percentage point) o f the overall in
crease in 2007 (tables B and C). Recreation, en tertain
m ent, and shopping accounted for 33 percent o f total
growth. Food and beverage services, w hich co n trib
uted significantly to grow th in previous years, ac
counted for only 13 percent o f the total increase in
2007 (chart 1).
Prices. Tourism goods and services prices also
slowed, increasing 3.6 percent in 2007, com pared w ith
4.2 percent in 2006. The slowdown in price grow th was
widespread. The key drivers were a slowdown in d o
mestic passenger air transportation grow th (0.3 p e r
cent in 2007, com pared w ith 5.7 percent in 2006), a
dow nturn in autom otive rental and leasing growth,
(-0.2 percent, com pared w ith 5.9 percent), and a
Data Availability
The detailed annual estimates of tourism activity for
2006 are presented in eight tables at the end of this arti
cle. The detailed annual estimates for 1998-2006, esti
mates of output and employment for 2007, and
quarterly estimates of output and employment are avail
able on BEA’s Web site at <www.bea.gov> under “Indus
try” and “Satellite Accounts.”
June 2008
Table A. Annual Growth in Real Output by Tourism
Commodity in 2001-2007
[Percent change from preceding period]
Commodity
2001
All tourism goods and s ervic es ..................
-4 .7
Traveler accommodations........................
-8.2
Food and beverage services....................
-2.2
Transportation..........................................
-4.1
Passenger air transportation................
-9.2
Domestic passenger air transportation
services........................................
-6.7
International passenger air
transportation services................. -15.1
All other transportation-related
commodities.....................................
-0.1
Passenger rail transportation services
2.8
Passenger water transportation
services........................................
14.1
Intercity bus services........................
^ .0
Intercity charter bus services........... -10.2
Local bus and other transportation
services........................................
-1.8
Taxicab services...............................
-3.9
Scenic and sightseeing transportation
services........................................
-7.3
Automotive rental and leasing..........
-2.7
-7.9
Other vehicle rental and leasing.......
7.4
Automotive repair services...............
Parking.............................................
6.7
2.4
Highway tolls....................................
Travel arrangement and reservation
services........................................
-1.7
Gasoline...........................................
-0.6
Recreation, entertainment, and shopping
-4.8
Recreation and entertainment.............
-1.5
Motion pictures and performing arts
-2.0
Spectator sports............................... -11.8
Participant sports.............................
-2.9
Gambling..........................................
2.8
All other recreation and entertainment -3.7
Nondurable PCE commodities other than
gasoline............................................
-7.1
2002 2003 2004 2005 2006 2007
0.8
2.0
1.5
-0.5
-1.9
6.2
2.9
3.1
1.9
3.4 3.6
4.4 5.5
0.8 6.7
3.3 10.6
1.8
4.5
3.4
2.7
3.8
3.2
2.7
2.6
1.2
1.7
2.0
2.6
3.1
-0.8
6.8
7.9
-2.7
-0.4
2.5
-4 .8
-4.3
17.4
14.0
8.2
2.7
0.5
4.5
-0.8
3.2
4.0
8.5
3.9 2.8
-6.4 -0.8
1.7
6.2
1.2
-2.9
-3.1
20.6 40.5
15.3 -6.3
-3.7 -4.0
13.8 4.8 7.5
-6.7 -6.6 -8.6
6.7 3.2
-4.8
-7.1
-7.2
-2.6
1.5
-9.0 -4.0
12.9
9.4
8.1
5.8
2.4
1.9
6.4 2.8
-5.3 -0.8 3.2
3.9
-5.7 -1.5 9.0
4.1
0.3 7.5
-4.3
1.2 15.6 18.0 4.1 -3.5
3.5 -12.1 -6.4 -3.8 -5.0 1.4
1.7 -11.1 -5.2
2.4 12.0 0.4
6.8
8.1 -0.8 -7.8 -11.2 -2.5
5.1
4.9 2.6
0.6 -4.5
1.9
5.4 7.3
1.6
4.5
5.5 5.1
5.3
2.3 3.5
15.8
2.6 6.1
1.2 1.0
0.0
9.3 9.9
5.1
2.9
5.6 -1.1
-0.6
5.3
9.9
7.6 5.7 4.2
1.4 3.3 -1.3
1.5 2.8 2.3
1.6
1.6 1.8
-3.8 -2.4 -1.3
-4.7
4.1 2.7
1.3 -3.6 2.9
2.2 3.3 1.2
4.1
1.6 3.3
2.7
5.0
3.2
PCE Personal consumption expenditures
Table B. Contributions to Growth in Real Tourism Output by Tourism
Commodity in 2001-2007
[Percentage points]
Commodity
2001 2002 2003 2004 2005 2006 2007
All tourism goods and s ervices.................... -4.7 0
Traveler accommodations..........................
Food and beverage services......................
Transportation...........................................
Passenger air transportation..................
Domestic passenger air transportation
services.........................................
International passenger air
transportation services...................
All other transportation-related
commodities.......................................
Passenger rail transportation services
Passenger water transportation
services.........................................
Intercity bus services..........................
Intercity charter bus services.............
Local bus and other transportation
services..........................................
Taxicab services.................................
Scenic and sightseeing transportation
services..........................................
Automotive rental and leasing............
Other vehicle rental and leasing.........
Automotive repair services.................
Parking...............................................
Highway tolls......................................
Travel arrangement and reservation
services..........................................
Gasoline.............................................
Recreation, entertainment, and shopping
Recreation and entertainment...............
Motion pictures and performing arts ...
Spectator sports.................................
Participant sports...............................
Gambling............................................
All other recreation and entertainment
Nondurable PCE commodities other than
gasoline..............................................
PCE Personal consumption expenditures
15
S u r v e y o f C u r r e n t B u s in e s s
3.12
1.95
-1.44 0.34
-0.34 0.24
-1.61 -0.21
-1.58 -0.31
0.58 0.64 0.32 0.64
0.73 0.93 0.75 0.53
0.33 2.49 1.29 1.06
0.50 1.57 0.39 0.39
0.20
0.26
0.84
0.35
-0.82 -0.08
0.69
0.82 -0.28 -0.04
0.21
-0.76 -0.22 -0.20
0.75 0.66
0.43
0.14
-0.03
0.01
0.92 0.90 0.67
0.02 -0.01 -0.00
0.49
0.01
0.78
3.15
0.10 -0.16
0.01 0.01
6.22
2.91
0.14 0.01 0.21 0.45 0.19 0.07 0.10
-0.01 -0.01 0.04 -0.02 -0.02 -0.02 -0.02
-0.02 -0.01 -0.01 -0.01 -0.01 0.01 0.00
-0.01 -0.04 -0.01 0.01
-0.02 -0.05 -0.06 -0.02
0.06 0.04 0.01
0.05 0.03 0.01
-0.02
-0.22
-0.00
0.08
0.01
0.01
-0.00
-0.06
0.00
-0.30
0.04
0.01
0.01
0.32
0.01
-0.14
0.00
-0.00
0.02 0.02 0.01
0.15 0.01 0.24
0.01 0.00 -0.00
-0.07 -0.09 0.02
0.01 -0.03 -0.01
-0.01 -0.01 -0.00
-0.09 0.29
-0.04 0.04
-1.30 0.42
-0.16 0.51
-0.03 0.10
-0.09 0.12
-0.05 0.00
0.11 0.22
-0.09 0.07
0.28
-0.32
1.50
0.67
0.05
0.02
0.02
0.43
0.15
0.15
0.14
2.16
0.60
0.07
0.06
0.02
0.48
-0.03
0.42
0.11
0.56
0.12
-0.07
-0.04
0.02
0.11
0.11
-1.14 -0.09
0.83
-0.03
-0.10
-0.01
0.15
0.02
0.00
0.32
0.30
0.90
0.13
-0.04
0.04
-0.06
0.16
0.04
0.23
-0.12
0.65
0.18
-0.02
0.02
0.04
0.06
0.08
slowdown in gasoline growth (8.7 percent, com pared
with 12.9 percent). These slowdowns were partially
offset by accelerating prices for traveler accom m oda
tions (4.8 percent in 2007, com pared w ith 2.6 percent
in 2006) and food and beverage services (3.7 percent,
com pared w ith 3.1 percent) (table D).
Despite the deceleration, total travel and tourism
prices increased for the fifth consecutive year in 2007.
Traveler accom m odations contributed 0.89 percentage
point to total price grow th in 2007 and accounted for
25 percent o f the growth, while tran sportation con
tributed 1.32 percentage points and accounted for 37
percent of total price grow th (chart 2 and table E).
T ransportation, which includes passenger air travel
and gasoline, rem ained volatile. D om estic air travel
prices rem ained below their 2000 level, b ut in tern a
tional air travel prices were 39.2 percent higher than in
2000. Gasoline prices accounted for 21.6 percent of
overall 2007 price growth and were 85.5 percent above
their 2000 level (table F).
Total o u tp u t. Total tourism -related o u tp u t in
creased to $1.32 trillion in 2007, up 5.8 percent from
$1.25 trillion in 2006. Total o u tp u t consisted o f $746.5
billion in direct tourism o u tp u t and $572.7 billion in
indirect tourism o u tp u t (chart 3). The 1.77 ratio o f to
tal o u tp u t to direct o u tp u t in 2007 means that every
dollar of direct tourism o u tp u t required an additional
77 cents o f indirect tourism output.
Direct tourism o u tp ut includes goods and services
sold directly to visitors, such as passenger air travel. In
direct tourism o u tp u t includes sales o f all goods and
Chart 1. Contributions to Annual Growth in Real
Tourism Output in 2004-2007
Percent
3.0
2.5
■ i Traveler accom m odations
b
Food and beverage services
■
Transportation
■
R ecreation, e ntertainm ent, and shopping
2 .0
1.5
1 .0
0.5
2004
1.57 0.44 0.77 0.47
U.S. Bureau of Economic Analysis
2005
2006
2007
16
U.S. Travel and Tourism Satellite Accounts
June 2008
Table D. Annual Growth in Prices for Tourism
Commodities in 2002-2007
services used to produce that direct output, such as jet
fuel to fly the plane.
[Percent change from preceding period]
The C om po sition of T ou rism D em and
Commodity
The travel and tourism accounts include estim ates of
the com position o f tourism dem and by type of visitor.
All tourism goods and services ....
Traveler accommodations............
Food and beverage services
Transportation..............................
Passenger air transportation
Domestic passenger air
transportation services
International passenger air
transportation services
All other transportation-related
commodities.........................
Passenger rail transportation
services............................
Passenger water
transportation services
Intercity bus services............
Intercity charter bus services
Local bus and other
transportation services
Taxicab services...................
Scenic and sightseeing
transportation services
Automotive rental and leasing
Other vehicle rental and
leasing..............................
Automotive repair services....
Parking.................................
Highway tolls.........................
Travel arrangement and
reservation services..........
Gasoline...............................
Recreation, entertainment, and
shopping...................................
Recreation and entertainment
Motion pictures and
performing arts.................
Spectator sports...................
Participant sports..................
Gambling..............................
All other recreation and
entertainment....................
Nondurable PCE commodities
other than gasoline...............
Chart 2. Contributions to Annual Growth in the
Chain-Type Price Index for Tourism Goods and
Services in 2004-2007
Percent
3.0
i T raveler accom m odations
F ood and beverage services
2.5
O verall annual grow th
3.6% in 2004
i T ransportation
R ecreation, entertainm ent, and shopping
4.4% in 2005
4.2% in 2006
3.6% in 2007
2 .0
1.5
1 .0
0.5
2004
2005
2006
2007
2002
2003
2004
2005
2006
2007
-0.5
-0.8
2.7
-3.2
-5.8
2.8
1.6
2.1
4.7
3.4
3.6
5.7
3.1
3.8
-1.1
4.4
5.0
3.2
6.1
3.0
4.2
2.6
3.1
6.6
5.6
3.6
4.8
3.7
3.7
2.5
-9.7
2.8
-2.3
2.5
5.7
0.3
4.6
4.6
1.6
4.2
5.5
6.1
-1.5
5.6
7.2
8.2
7.2
4.5
4.5
-7.5
-3.5
3.5
7.3
4.7
-3.7
3.2
3.0
-8.0
3.7
4.1
-1.5
3.8
2.5
1.3
3.6
2.4
0.2
7.2
3.5
-0.5
0.9
3.2
1.6
2.2
5.0
7.2
4.5
6.0
4.6
4.7
2.8
3.3
2.0
2.1
3.0
5.0
4.1
3.2
2.5
1.2
2.4
0.3
3.5
5.9
3.2
-0.2
0.4
3.7
3.6
-2.4
8.3
2.8
2.8
2.2
7.6
1.7
4.4
8.4
-1.2
4.4
8.1
12.4
1.7
4.2
3.0
8.4
10.3
3.5
3.4
5.4
-3.0
-6.3
-0.3
16.7
3.7
18.1
0.2
21.9
3.7
12.9
1.4
8.7
2.1
2.1
2.1
2.1
2.6
2.6
2.8
2.8
2.8
2.8
2.8
2.8
3.4
4.3
2.6
1.6
4.6
1.8
1.3
2.3
3.6
4.8
2.1
2.6
3.8
6.3
2.2
3.4
3.5
3.7
3.0
3.2
3.9
4.9
0.9
2.9
2.5
2.5
2.8
3.0
3.2
3.1
0.8
0.5
1.7
1.5
1.7
2.2
U.S. Bureau of Economic Analysis
PCE Personal consumption expenditures
Table C. Real Output by Tourism Commodity in 2000-2007
[Millions of chained (2000) dollars]
Commodity
All tourism goods and services........................................................
Traveler accommodations.................................................................
Food and beverage services............................................................
Transportation..................................................................................
Passenger air transportation........................................................
Domestic passenger air transportation services......................
International passenger air transportation services..................
All other transportation-related commodities................................
Passenger rail transportation services.....................................
Passenger water transportation services.................................
Intercity bus services................................................................
Intercity charter bus services....................................................
Local bus and other transportation services.............................
Taxicab services.......................................................................
Scenic and sightseeing transportation services.......................
Automotive rental and leasing...................................................
Other vehicle rental and leasing...............................................
Automotive repair services.......................................................
Parking......................................................................................
Highway tolls.............................................................................
Travel arrangement and reservation services...........................
Gasoline...................................................................................
Recreation, entertainment, and shopping.......................................
Recreation and entertainment......................................................
Motion pictures and performing arts.........................................
Spectator sports.......................................................................
Participant sports......................................................................
Gambling..................................................................................
All other recreation and entertainment.....................................
Nondurable PCE commodities other than gasoline......................
PCE Personal consumption expenditures
2000
546,908
97.041
83,683
219,040
97,677
71,026
26,651
121,363
1,145
5,526
1,537
966
2,993
3,461
2,316
20,851
525
11,014
1,315
548
30,735
38,430
147,144
59,094
9,466
4,294
9,954
21,760
13,620
88,050
2001
521,226
89,131
81,812
210,105
88,731
66,290
22,626
121,195
1,177
6,307
1,475
867
2,940
3,326
2,147
20,294
484
11,826
1,403
561
30,218
38,214
140,011
58,210
9,278
3,788
9,665
22,370
13,116
81,784
2002
525,313
90,897
83,015
209,083
87,020
65,770
21,533
121,791
1,230
6,385
1,433
841
2,730
3,088
2,033
19,136
463
12,244
1,436
599
31,756
38,449
142,182
60,835
9,770
4,387
9,667
23,505
13,497
81,290
2003
541,835
93,952
86,680
210,818
89,900
70,213
20,597
120,848
1,269
7,700
1.652
810
2,658
2,811
2,016
18,848
468
10,768
1,608
648
33,311
36,705
149,878
64,206
9,991
4,503
9,788
25,684
14,258
85,616
2004
575,551
97,377
91,462
224,855
99,431
75,723
24.175
125,716
1,377
10,827
1,548
777
2,698
2,699
2,081
20,538
549
10,074
1,614
642
34,169
37,416
157,778
68,224
10,346
4,777
9,890
28,215
14,095
94,132
2005
592,308
99,167
95,560
232,542
102,076
73,658
27,567
130,610
1,289
12,320
1,444
740
3,045
2,954
2,162
21,372
647
9,691
1,641
592
36,756
37,937
160,215
69,307
9,956
4,553
10,018
28,829
14,676
96,707
2006
610,812
102,887
98,572
238.852
104,735
73,343
29,819
134,223
1,278
12,915
1,348
790
3,292
3,126
2,300
21,437
674
9,204
1,460
526
38,859
39,187
164,760
70,387
9,713
4,742
9,660
29,767
14,910
101,497
2007
622,705
104,144
100,237
243,681
107,424
75,144
30,623
136,571
1,357
13,888
1,232
815
3,372
3,185
2,363
23,052
651
9,330
1,384
513
40,505
38,673
168,493
71,671
9,585
4,871
9,944
30,130
15,408
104,760
June 2008
17
S u r v e y o f C u r r e n t B u s in e s s
The accounts distinguish expenditures o f U.S. resi
dents traveling abroad from those of U.S. residents
and nonresidents traveling w ithin the U nited States for
leisure, business, or governm ent purposes. The balance
o f tourism trade can be derived by subtracting expen
ditures on foreign travel by U.S. residents (an im port
o f goods and services to outbound travelers) from ex
penditures on U.S. travel by nonresidents (an export of
goods and services to inbound travelers).
In te rn a tio n a l travel an d to u rism . International
travel (the sum o f inbound travel and outb o u n d travel)
grew 10.5 percent in 2007 and 4.8 percent in 2006. In
2007, in b o u n d tourism — travel-related expenditures
and international transportation purchases from U.S.
providers by nonresidents traveling in the U nited
States— grew 15.8 percent to $119.6 billion (chart 4).
O u tb o u n d tourism — travel-related expenditures and
international transportation purchases from foreign
providers by U.S. residents traveling abroad— grew 4.8
percent to $101.2 billion. As a result, net exports of
travel and tourism increased sharply to $18.4 billion in
2007 from $6.7 billion in 2006 (table G).
Table E. Contributions to Annual Growth in the Chain-Type Price
Indexes for Tourism Commodities in 2001-2007
Inbound travel has been strong, increasing an an
nual average o f 11.9 percent since 2003. Over th at same
tim e period, o u tb o u n d travel increased an average of
Chart 3. Total Tourism-Related Output in 2004-2007
Billions of current dollars
1,400 ------------------------
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
Table F. Chain-Type Price Indexes for Tourism Commodities
in 2000-2007
[Index numbers, 2000=100]
[Percentage points]
Commodity
Commodity
2001
2002
2003
2004
2005
2006
2000 2001 2002 2003 2004 2005 2006 2007
2007
All tourism goods and services. .. 100.0 100.5 100.0 102.8 106.4 111.1 115.7 119.9
All tourism goods and s ervices ........
Traveler accommodations................
Food and beverage services...........
Transportation..................................
Passenger air transportation.......
Domestic passenger air
transportation services.........
International passenger air
transportation services.........
All other transportation-related
commodities.............................
Passenger rail transportation
services................................
Passenger water transportation
services................................
Intercity bus services...............
Intercity charter bus services....
Local bus and other
transportation services.........
Taxicab services......................
Scenic and sightseeing
transportation services.........
Automotive rental and leasing...
Other vehicle rental and leasing
Automotive repair services.......
Parking.....................................
Highway tolls............................
Travel arrangement and
reservation services.............
Gasoline...................................
Recreation, entertainment, and
shopping......................................
Recreation and entertainment.....
Motion pictures and performing
arts.......................................
Spectator sports......................
Participant sports.....................
Gambling..................................
All other recreation and
entertainment.......................
Nondurable PCE commodities
other than gasoline..................
0.52
3.56
4.38
4.16
3.61
0.28 0.98
0.35 0.51
1.75 1.43
0.50 -0.17
0.86
0.53
2.33
0.45
0.44
0.52
2.54
0.82
0.89
0.73
1.32
0.36
-1.01 -1.08
0.30 -0.24
0.25
0.53
0.03
0.20
0.21
0.07
0.21
0.30
0.33
-0.16 -0.31
1.25
1.60
1.88
1.71
0.97
0.31
0.00
0.01 -0.02 -0.01
0.01
0.01
-0.08 -0.04 -0.09 -0.02
0.01 0.01 0.01 0.01
0.01 0.00 0.01 0.00
0.02
0.01
0.00
0.00 -0.01
0.02 0.00
0.00 0.00
0.02
0.03
0.02
0.02
0.01
0.02
0.01
0.01
0.01
0.03
0.04
0.02
0.03
0.01 0.01
-0.02 0.18
0.00 0.00
0.07 0.08
0.01 0.01
0.00 -0.00
0.02
0.12
0.01
0.07
0.01
0.00
0.01 0.01
0.05 0.01
0.01 -0.00
0.03 0.08
0.01 0.02
0.01 0.01
0.01 0.01
0.21 -0.01
0.00 0.01
0.07 0.05
0.01 0.01
0.01 0.00
0.21
1.22
0.01
1.64
0.21
1.12
0.08
0.78
0.06 -0.17 -0.02
-0.26 -0.43
1.07
0.01
0.01
0.61
0.34
0.40
0.28
0.39
0.31
0.64
0.36
0.66
0.41
0.65
0.39
0.66
0.33
0.06
0.04
0.06
0.11
0.06
0.03
0.05
0.07
0.09
0.02
0.03
0.11
0.07
0.04
0.04
0.13
0.07
0.06
0.04
0.17
0.06
0.03
0.05
0.16
0.06
0.04
0.01
0.14
0.08
0.06
0.07
0.08
0.08
0.08
0.08
0.26
0.12
0.08
0.28
0.25
0.27
0.33
P C E P erso nal co n s u m p tio n e x p e n d itu re s
-0.51
2.77
0.31 -0.13
0.45 0.42
-0.86 -1.20
-0.70 -0.88
Traveler accommodations............
Food and beverage services
Transportation..............................
Passenger air transportation
Domestic passenger air
transportation services
International passenger air
transportation services
All other transportation-related
commodities.........................
Passenger rail transportation
services............................
Passenger water
transportation services
Intercity bus services...........
Intercity charter bus services
Local bus and other
transportation services
Taxicab services...................
Scenic and sightseeing
transportation services
Automotive rental and leasing
Other vehicle rental and
leasing..............................
Automotive repair services....
Parking.................................
Highway tolls........................
Travel arrangement and
reservation services
Gasoline...............................
Recreation, entertainment, and
shopping..................................
Recreation and entertainment
Motion pictures and
performing arts.................
Spectator sports...................
Participant sports.................
Gambling..............................
All other recreation and
entertainment...................
Nondurable PCE commodities
other than gasoline..............
100.0 102.0 101.2 102.8 108.7 114.2 117.1
100.0 103.2 106.0 108.2 111.5 115.0 118.6
100.0 97.7 94.5 98.9 102.7 109.0 116.2
100.0 95.6 90.1 93.2 92.2 94.9 100.2
100.0
91.4
82.5
84.8
82.9
85.0
89.8
122.7
123.0
120.5
102.7
90.1
100.0 107.4 112.2 117.5 119.3 124.3 131.2 139.2
100.0
99.3
97.8 103.3 110.8 119.9 128.5 134.3
100.0 102.4 107.1
99.0
95.5
98.9 106.1 111.2
100.0 91.9 88.4 81.5 80.2 81.2 81.4 80.9
100.0 103.3 106.6 110.5 114.7 118.9 127.4 128.5
100.0 103.9 107.1 111.4 114.2 116.9 121.0 124.8
100.0 101.6 103.2 108.4 113.3 118.4 121.7 124.2
100.0 103.0 105.3 112.8 119.6 125.2 129.4 132.1
100.0 103.9 107.1 111.5 114.2 116.9 121.0 124.8
100.0 99.4 104.4 107.8 109.1 109.4 115.8 115.6
100.0
100.0
100.0
100.0
100.9 101.3 109.7 118.0 116.5
103.6 107.4 110.4 112.3 117.3
104.5 108.3 111.3 116.2 125.6
100.3 98.0 100.1 108.5 122.0
100.0 101.1
100.0 96.1
118.5
122.2
129.4
132.2
130.6
126.4
133.8
139.3
98.0 97.7 101.4 101.6 105.3 106.7
90.0 105.1 124.0 151.2 170.7 185.5
100.0 102.5 104.0 105.4 110.2 113.3 116.5 119.7
100.0 103.4 105.9 108.6 110.2 113.3 116.5 119.7
100.0
100.0
100.0
100.0
103.9
105.9
103.4
102.8
107.4
110.5
106.1
104.4
112.3
112.5
107.5
106.8
116.4
117.8
109.8
109.6
120.8
125.2
112.2
113.3
125.0
129.8
115.5
117.0
129.9
136.2
116.5
120.4
100.0 103.3 105.9 108.6 111.7 115.0 118.7 122.4
100.0 101.8 102.6 103.1 104.9 106.5 108.3 110.6
P C E P e rso nal co n s u m p tio n e x p e n d itu re s
18
U.S. Travel and Tourism Satellite Accounts
7.6 percent. Accordingly, net exports grew an average
o f 133 percent each year from $0.9 billion in 2003 to
$18.4 billion in 2007. The m ost recent spike in net
exports o f travel and tourism coincided w ith the dol
lar’s relative drop against m ajor currencies that m ade
travel to the U nited States by nonresidents less expen
sive. Furtherm ore, the appreciation o f the euro and the
p o u n d over 2007, coupled w ith rising prices abroad,
discouraged significant grow th in o u tb o u n d travel.2
Internal tourism includes travel and tourism w ithin
the borders o f the U nited States— the sum o f dom estic
tourism and inb o u n d tourism .3 Inbound to u rism s
share o f internal tourism peaked in 2000, accounting
for 15.3 percent o f the total (table H and chart 5). After
declining to 11.7 percent in 2003, inbound to u rism s
share has reb ounded slightly, accounting for 12.7 p er
cent o f internal tourism in 2005 and 12.4 percent in
2006.
N ational to u rism consists o f travel and tourism by
U.S. residents, both w ithin the U nited States and
abroad— the sum o f dom estic tourism and o u tb o u n d
tourism . The calculation o f o u tb o u n d tourism is m o d
ified here to include all expenditures on international
tran sp o rtatio n , w hether purchased from foreign p ro
viders or from U.S. providers. O u tb o u n d to u rism s
share o f national tourism rem ained steady at 17.5 p er
cent in 2007 (table I and chart 6). This share peaked in
2000 at 18.2 percent o f national tourism .
D o m estic travel a n d to u rism . D om estic tourism
2. See Christopher L. Bach, “U.S. International Transactions,” Survey o f
Current Business 88 (April 2008): 22-47.
3. As a component of internal tourism, the calculation of inbound tour
ism is modified to exclude all expenditures on international transportation,
whether purchased from foreign or U.S. providers. This makes possible an
equally defined comparison between expenditures by U.S. residents travel
ing within the U.S. (domestic tourism), and expenditures by nonresidents
traveling within the U.S. (inbound tourism).
Acknowledgments
Sherlene K. S. Lum and Paul V. Kern of the Current
Industry Analysis Division supervised the preparation
of the estimates. Mary L. Streitweiser, Acting Associate
Director of Industry Accounts, and George M. Smith,
Chief of the Current Industry Analysis Division, pro
vided overall guidance. Sarah R. Mattingly prepared
the estimates. Eric S. Griffith provided support.
BEA staff members of the Current Industry Analy
sis Division, the National Income and Wealth Divi
sion, the Government Division, and the Regional
Product Division contributed to the development of
the estimates.
The Office of Travel and Tourism Industries of the
International Trade Administration provided funding
for the preparation of the travel and tourism satellite
accounts.
June 2008
Table G. U.S. International Travel and Tourism in 2001-2007
[Billions of dollars]
2001
2002
2003
2004
2006
2005
2007
166.4 155.9 152.3 177.2 190.7 199.9 220.9
Total international travel and tourism
Inbound travel and tourism ......................
Outbound travel and tourism....................
86.3
80.1
80.0
75.9
76.6
75.7
89.6
87.6
Net exports of travel and tourism.............
6.2
4.2
0.9
1.9
98.5 103.3 119.6
92.2
96.6 101.2
6.7
6.3
18.4
Table H. Internal Travel and Tourism in the United States by
Residents and Nonresidents in 2000-2006
Billions of dollars
Year
2000.........................................
2001.........................................
2002.........................................
2003.........................................
2004.........................................
2005.........................................
2006.........................................
Residents
Nonresidents
(inbound)
446,578
436,526
443,862
478,332
518,231
552,148
593,725
80,902
70,737
65,383
63.245
73,362
80,341
83,981
Share
Total
Residents
Nonresidents
(inbound)
84.7
86.1
87.2
88.3
87.6
87.3
87.6
15.3
13.9
12.8
11.7
12.4
12.7
12.4
527,480
507,263
509,244
541,577
591,593
632,489
677,706
Chart 4. U.S. Trade in Tourism in 2001-2007
Billions of dollars
2001
Billions of dollars
2002
2003
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
Chart 5. Inbound Tourism’s Share of Internal
Travel and Tourism in 2001-2006
Percent
U.S. Bureau of Economic Analysis
June 2008
19
S u r v e y o f C u r r e n t B u s in e s s
includes travel and tourism by U.S. residents w ithin
the borders o f the U nited States. Puerto Rico and the
U.S. Virgin Islands are outside o f this defined b o u n d
ary and are classified as “international travel.” The
travel and to urism accounts break out all expenditures
o n dom estic travel and tourism by type of visitor: resi
dent households, business, and governm ent (table 3).
Business travel’s share of dom estic travel and tourism
has increased for the fourth straight year to reach 32.1
percent in 2006 (table J and chart 7). G overnm ent
travel accounted for 5.0 percent o f dom estic travel in
2006 after declining each year since its peak o f 5.7 p er
cent in 2002.
tourism continues to account for a larger share o f GDP
th an industries such as utilities, com puter and elec
tronic products m anufacturing, and broadcasting and
telecom m unications.
D irect em ploym ent. D irect tourism em ploym ent
includes jobs th at involve producing goods and ser
vices th at are sold directly to visitors. Airline pilots, h o
tel clerks, and travel agents are examples o f such
employees. Overall, direct em ploym ent increased 1.7
percent in 2007 (table L and chart 8). Food services
and drinking places accounted for 41 percent o f the to
tal grow th in direct em ploym ent, and traveler accom
m odations accounted for 21 percent o f the total
T ou rism V alue A dded and E m ploym en t
Value added and em ploym ent are two m easures that
facilitate analysis o f travel and tourism by industry
rather th an by com m odity.
Value added. A sector’s value added m easures its
co n trib u tio n to gross dom estic product (GDP). In
2006 (the m ost recent year for w hich data are avail
able), to u rism ’s share o f GDP was 2.7 percent (table
K). Despite the dow ntrend in tourism ’s share o f GDP,
Table I. National Travel and Tourism in the United States and
Abroad in 2000-2006
Billions of dollars
Percent
Abroad
(outbound)
In the
Abroad
United
(outbound)
States
Table J. Domestic Travel and Tourism by Type of Visitor
in 2000-2006
Billions of dollars
Year
2000.......
2001 .......
2002.......
2003.......
2004.......
2005.......
2006
Percent
Resident
Business Government
households
274,177
278,072
283,455
307,202
332,975
354,122
379,666
156,956
139,331
139,679
151,296
165,601
178,842
193,695
20,565
24,281
25,715
25,291
27,433
28,659
30,182
Total
Resident
Business Government
households
451,699
441,683
448,849
483,790
526,009
561,624
603,543
60.7
63.0
63.2
63.5
63.3
63.1
62.9
2000..............................................
2001 ..............................................
2002..............................................
2003..............................................
2004..............................................
2005 ..............................................
2006..............................................
In the
United
States
446,578
436,526
443,862
478,332
518,231
552,148
593,725
99,508
93,911
90,224
91,872
107,909
117,260
125,820
Total
546,087
530,437
534,085
570,204
626,140
669,408
719,544
81.8
82.3
83.1
83.9
82.8
82.5
82.5
Chart 6. Outbound Tourism’s Share of National
Travel and Tourism in 2001-2006
18.2
17.7
16.9
16.1
17.2
17.5
17.5
4.6
5.5
5.7
5.2
5.2
5.1
5.0
Table K. Travel and Tourism as a Share of Gross Domestic Product
in 2000-2006
Percent
Billions of dollars
Year
34.7
31.5
31.1
31.3
31.5
31.8
32.1
Year
Gross domestic
product (GDP)
2000.....................................
2001 .....................................
2002.....................................
2003.....................................
2004.....................................
2005.....................................
2006.....................................
Tourism value added
Tourism value added
as share of GDP
289.5
283.4
285.2
297.9
317.2
328.2
349.2
2.95
2.80
2.72
2.72
2.71
2.64
2.65
9,817.0
10,128.0
10,469.6
10,960.8
11,685.9
12,433.9
13,194.7
Chart 7. Business Travel’s Share of Domestic
Travel and Tourism in 2001-2006
Percent
2001
2002
U.S. Bureau of Economic Analysis
2003
2004
2005
2006
U.S. Travel and Tourism Satellite A ccounts
20
growth. Air tran sp o rtatio n services added employees
for the first tim e since 2000 (table M ). The revisions to
the previously published estim ates for 2004-2006 are
show n in table N.
Total em p lo y m ent. Total tourism -related em ploy
m ent (the sum o f direct and indirect jobs) grew to 8.6
m illion jobs in 2007, the fourth consecutive year of
growth. The 8.6 m illion jobs consisted o f 5.9 m illion
direct to urism jobs and 2.7 m illion indirect tourism
jobs (chart 9). Direct tourism em ploym ent includes
jobs that produce direct tourism outp u t, such as air
line pilots; indirect tourism em ploym ent consists of
jobs th at produce indirect tourism outp u t, such as re
finery workers who produce jet fuel. The m ost recent
data indicate that every direct tourism job generates an
additional 46 percent o f a job in indirect tourism em
ploym ent (see table 7 at the end o f this article).
Table M. Direct Employment by Tourism Industry in 2001-2007
[Thousands of employees]
2001
2002
2003
2004
2005
2006
2007
All tourism industries........................
5,756
5,583
5,579
5,679
5,739
5,772
5,869
Traveler a c c o m m o d a tio n s ................
N onfarm residential tenant
o ccupied p e rm anent s it e .............
Food services and drinking places
T ra n sp o rta tio n ......................................
A ir transportation s e rv ic e s ...........
All other transportation-related
in d u s trie s .....................................
Rail transportation s e rv ic e s ....
W ater transportation services
In terurban bus transportation
In terurban c h a rte r bus
tra n sp o rta tio n .........................
Urban transit system s and
other tra n s p o rta tio n .............
Taxi s e rv ic e .................................
Scenic and sightseeing
transportation s e rv ic e s .......
A utom otive equipm ent rental
and le a s in g ............................
A utom otive repair s e rv ic e s .....
P arking lots and g a ra g e s ........
Toll h ighw ays...............................
Travel a rrangem ent and
reservation se rv ic e s .............
1,367
1,319
1,319
1,331
1,343
1,347
1,367
10
1,608
1,327
592
9
1,636
1,208
515
9
1,697
1,134
473
9
1,777
1,117
467
9
1,847
1,108
450
10
1,869
1,110
446
10
1,909
1,125
454
735
11
28
25
693
12
27
25
660
12
28
24
650
10
34
23
658
9
40
23
664
9
43
22
671
10
44
22
Industry
Table L. Contributions to Growth in Employment by
Tourism in 2001-2007
[Percentage points]
2003
2004
2005
2006
2007
All tourism industries............................................ -1.32 -3.01 -0.07
1.81
1.04
0.58
1.68
0.22
0.05
0.35
-0 .0 0
0.01
1.24
0.39
0.02
-0 .1 5
-0 .3 0 -0 .0 8
0.10
0.15
0.00
-0 .0 1
0.05
0.10
-0 .0 1 -0 .0 1
-0 .0 1 -0 .0 1
0.00
0.69
0.27
0.15
0.12
0.01
0.01
0.00
0.00
Industry
2001
2002
Traveler acco m m o d a tio n s....................................... -0 .6 5 -0 .8 4
N onfarm residential tenant occupied
p erm anent s it e .....................................................
0.00 -0 .0 1
0.49
Food services and drinking p la c e s ....................... -0 .2 2
T ra n s p o rta tio n ........................................................... -0 .1 2 -2 .0 7
A ir transp o rta tio n s e rv ic e s ................................ -0 .0 7 -1 .3 b
All other transporta tio n -re la te d in d u s trie s ..... -0 .0 4 - 0 . / 2
0.02
R ail tra nsp ortatio n s e r v ic e s ......................... -0 .0 1
W ater tra nsp o rta tio n s e r v ic e s .....................
0.02 -0 .0 1
0.02 -0 .0 0
In te ru rba n bus tra n s p o rta tio n .......................
In terurban c h a rte r bus tra n s p o rta tio n .......
0.01 -0 .0 3
U rban tra n sit system s and other
0.01 -0 .0 4
tra n s p o rta tio n ..............................................
Taxi s e r v ic e ....................................................... -0 .0 2 - 0 .1 2
S cen ic and sig htse ein g transportation
s e rv ic e s ......................................................... -0 .0 1 -0 .0 3
A utom otive eq u ip m en t rental and leasing
0.00 -0 .1 0
0.07
0.06
A utom otive rep air s e rv ic e s ...........................
0.02
0.01
P arking lots and g a r a g e s ..............................
0.00
Toll h ig h w a y s .................................................... -0 .0 0
Travel arrangem ent and reservation
se rv ic e s ......................................................... -0 .1 1 - 0 .4 2
Petroleum re fin e rie s ....................................... -0 .0 0 -0 .0 1
G asoline service s ta tio n s .............................. -0 .0 3 - 0 .0 8
Recreation, e ntertainm ent, and s h o p p in g ......... -0 .2 8 - 0 .4 8
R ecreation and e n te rta in m e n t..........................
0.18 -0 .0 4
0.01
M otion p ictures and perform ing a r t s .......... -0 .0 3
S p ecta to r s p o rts .............................................. -0 .0 4
0 .0 /
0.10 -0 .0 6
P articipa nt s p o r ts ............................................
G a m b lin g ...........................................................
0.16 - 0 .0 4
All other recreation and e n te rta in m e n t...... -0 .0 0 -0 .0 0
S h o p p in g ................................................................ -0 .4 6 -0 .4 4
In dustries p roducing nondurable PCE
c om m odities, e xcluding petroleum
r e fin e rie s ....................................................... -0 .3 1 -0 .2 0
R etail tra d e se rvice s, excluding gasoline
service s ta tio n s ........................................... - 0 .1 6 -0 .2 4
A ll o th e r in d u s trie s .................................................... -0 .0 5 -0 .1 0
All oth e r industries, excluding w holesale
0.08
trade and transportation s e rv ic e s ............... -0 .0 3
W ho lesa le trade and tran sportation services -0 .0 2 -0 .1 8
PCE Personal consumption expenditures
- 0 .0 0
0.21
- 0 .0 0
1.08
- 1 .3 3
-0 .7 4
-0 .5 9
0.01
0.01
-0 .0 2
- 0 .0 2
0.01
1.43
- 0 .3 0
-0 .1 1
-0 .1 9
-0 .0 5
0.11
-0 .0 1
0.02
0.02
0.02
-0 .0 8 -0 .0 1
0.12
0.06
0.01
-0 .0 1
-0 .0 7 -0 .0 2
-0 .1 5 -0 .0 8
0.01
0.03
0.01 - 0 .0 0
0.01
0.01
- 0 .0 5
0.01
-0 .0 0
-0 .0 1
0.01
-0 .0 1 - 0 .0 2
-0 .0 3 -0 .0 0
0.00
0.01
-0 .0 1 -0 .0 0
-0 .2 8
-0 .0 0
-0 .0 4
0.20
0.18
0.01
0.03
0.10
0.01
0.03
0.02
-0 .0 7
-0 .0 0
-0 .0 1
- 0 .3 3
0.08
-0 .0 4
0.01
0.06
0.09
-0 .0 4
- 0 .4 0
-0 .0 3
0.01
0.04
- 0 .0 9
-0 .1 1
0.01
0.02
0.03
-0 .0 /
- 0 .1 0
0.02
0.01
0.01
0.01
0.32
0.27
0.01
0.05
0.08
0.10
0.03
0.05
-0 .0 8
0.00 -0 .1 8
- 0 .0 5
-0 .0 2
0.11
-0 .0 2
0.14 - 0 .2 2
0.04
0.03
0.07
0.20
0.07
0.06
-0 .1 6
-0 .0 1
-0 .0 2
0.43
0.29
-0 .0 1
0 .0 /
0.15
0.10
-0 .0 1
0.14
-0 .0 2 - 0 .0 2
0.09
0.00
0.05 - 0 .0 5
0.05
0.05
0.04
0.03
0.06 -0 .0 0
0.14
0.06
June 2008
Petroleum re fin e rie s ..................
G asoline service s ta tio n s........
Recreation, e ntertainm ent, and
s h o p p in g ...........................................
R ecreation and e n te rta in m e n t....
M otion pictures and
perform ing a r t s .....................
S pectator s p o r ts ........................
P articipant s p o rts .......................
G a m b lin g .....................................
A ll other recreation and
e n te rta in m e n t........................
S h o p p in g ...........................................
Industries producing
nondurable PCE
com m odities, excluding
petroleum re fin e rie s.............
Retail trade services,
excluding gasoline service
s ta tio n s ....................................
All other in d u s trie s .............................
All oth e r industries, excluding
w holesale trade and
transportation s e rv ic e s ............
W holesale trade and
transportation s e rv ic e s ............
PCE Personal consumption expenditures
23
21
20
21
21
20
20
49
47
49
48
44
49
44
56
47
59
49
61
51
55
20
18
18
18
18
18
19
109
57
11
4
104
61
12
4
100
53
13
5
98
48
14
5
99
46
14
5
98
44
14
4
97
44
15
4
250
8
85
226
8
81
210
8
78
202
7
77
198
7
77
196
7
79
197
8
79
1,190
596
1,162
594
1,173
603
1,197
620
1,179
624
1,174
618
1,192
633
32
53
214
172
33
57
210
169
33
58
216
170
33
62
224
175
30
63
227
180
31
64
229
176
31
67
234
182
125
594
125
569
126
570
126
578
123
555
117
556
119
559
185
174
169
169
159
156
155
409
254
395
248
401
247
408
249
396
251
400
263
404
266
75
80
79
77
83
86
86
179
169
169
171
169
177
180
June 2008
21
S u r v e y o f C u r r e n t B u s in e s s
Chart 8. Contributions to Annual Growth in Direct
Tourism Employment in 2004-2007
Percent
Chart 9. Total Tourism-Related Employment
in 2004-2007
Thousands of employees
9,000
I Direct
Indirect I B
Total
8 ,0 0 0
7,000
6 ,0 0 0
5,000
4,000
3,000
2 ,0 0 0
1 ,0 0 0
2004
2005
2006
2007
U.S. Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
Table N. Revisions to Real Growth in Direct Tourism Output and Employment In 2004-2007
[Percent change]
Direct Tourism Output
2004
Commodity group
Previously
Revised
published
2005
Previously
Revision
Revised
published
2007
2006
Revision Previously Revised
published
Previously
Revision
Revised
published
Revision
All tourism c o m m o d ities ....................................................
5.9
6.2
0.3
2.9
2.9
0.0
2.5
3.1
0.6
2.1
1.9
-0 .2
Traveler accommodations..........................................
Passenger air transportation......................................
All other transportation-related commodities.............
Food services and drinking places............................
Recreation and entertainment...................................
Shopping ..................................................................
4.1
9.1
4.1
5.1
5.2
9.0
3.6
10.6
4.0
5.5
5.1
9.9
-0.4
1.5
-0.1
0.4
-0.1
0.9
2.2
5.3
1.9
4.9
0.8
2.4
1.8
2.7
3.9
4.5
1.6
2.7
-0.3
-2.7
2.0
-0.4
0.8
0.4
2.8
1.2
0.5
4.8
3.0
3.5
3.8
2.6
2.8
3.2
1.6
5.0
0.9
1.4
2.3
-1.6
-1.4
1.4
1.9
2.1
2.7
1.6
1.1
2.8
1.2
2.6
1.7
1.7
1.8
3.2
-0.7
0.4
-0.9
0.1
0.7
0.4
Direct Tourism Employm ent
2004
Industry group
Previously
Revised
published
2005
Revision Previously Revised
published
2007
2006
Previously
Revision
Revised
published
Previously
Revised
Revision
published
Revision
All tourism in d u s trie s ..........................................................
1.8
1.8
0.0
1.6
1.0
-0 .6
1.2
0.6
-0 .6
n.a.
1.7
n.a.
Traveler accommodations..........................................
Air transportation services.........................................
All other transportation-related industries..................
Food and beverage services......................................
Recreation and entertainment...................................
Shopping..................................................................
All other industries.....................................................
0.8
-1.8
-1.5
4.4
3.5
1.6
1.0
0.2
-1.3
-1.6
4.7
2.7
1.4
0.6
-0.6
0.5
-0.1
0.3
-0.8
-0.3
-0.4
1.5
-0.9
1.2
3.4
2.0
-2.0
2.8
0.2
-3.6
1.3
4.0
0.7
^t.O
1.0
-1.2
-2.8
0.1
0.6
-1.3
-2.0
-1.8
1.1
-2.5
0.5
2.7
1.4
-0.2
2.3
0.1
-1.0
0.8
1.2
-1.0
0.2
4.5
-1.0
1.6
0.3
-1.5
-2.5
0.4
2.2
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
0.4
1.9
1.0
2.1
2.5
0.5
1.2
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a. not available
U.S. Travel and Tourism S atellite A ccounts
22
June 2008
Key Terms
Tourism employment. Total tourism-related employ
The following key terms are used to describe the travel
and tourism satellite accounts.
Domestic tourism. Travel-related expenditures by
U.S. residents traveling within the United States. It com
prises travel by resident households, business travel, and
travel by government employees.
Inbound tourism. Travel-related expenditures by
nonresidents traveling within the United States and
expenditures by nonresidents on international transpor
tation purchased from U.S. providers. These expendi
tures exclude expenditures for travel to study in the
United States and for medical reasons.1
Internal tourism. The sum of domestic tourism
expenditures and inbound tourism expenditures (net of
all international transportation expenditures).
National tourism. The sum of domestic tourism
demand and outbound tourism demand (including all
international transportation expenditures).
Outbound tourism. Travel-related expenditures by
U.S. residents traveling abroad and expenditures by U.S.
residents on international transportation purchased from
foreign providers.
Tourism commodities. Goods and services that are
typically purchased by visitors, such as airline passenger
transportation, hotel accommodations, and meals.2
1. In the travel and tourism satellite accounts, inbound and out
bound visitors are not differentiated by type o f visitor, because the data
to prepare these estimates are not available.
2. The classification o f tourism commodities in the travel and tour
ism satellite accounts is based on a list of primary activities o f visitors
that was developed from recommendations by the World Trade Organi
zation and by the Organization for Economic Co-operation and Devel
opment, and from various surveys o f U.S. visitors.
ment consists of direct tourism employment plus indirect
tourism employment. Direct tourism employment com
prises all jobs where the workers are engaged in the pro
duction of direct tourism output (for example, hotel staff
and airline pilots), and indirect tourism employment
comprises all jobs where the workers are engaged in the
production of indirect tourism output (for example,
workers producing hotel toiletries and delivering fuel to
airlines).
Tourism output. Total tourism-related output con
sists of direct tourism output and indirect tourism out
put. Direct tourism output comprises all domestically
produced goods and services purchased by travelers (for
example, traveler accommodations and passenger air
transportation), and indirect tourism output comprises
all output required to support the production of direct
tourism output (for example, toiletries for hotel guests
and fuel for airplanes).
Usual environment. The area of normal, everyday
activities, within 50-100 miles of home.3
Visitor. A person who travels outside of his or her
usual environment for less than a year or who stays over
night in a hotel or motel. The visitor may travel for plea
sure or business (private sector or government). Visitors
exclude travelers who expect to be compensated at the
location of their visit (such as migrant workers, persons
traveling to new assignments, and diplomatic and mili
tary personnel traveling to and from their duty stations
and their home countries).
3. The usual environment depends on the availability o f source data.
Tables 1 through 8 follow.
June 2008
23
S u r v e y o f C u r r e n t B u s in e s s
Table 1. Production of Commodities by Industry, 2006— Continues
[Millions of dollars]
Industry
C om m odity
Traveler
accom m
odations
Traveler a c c o m m o d a tio n s ............................................................................
Food se rvice s a nd drinking p la c e s ...........................................................
D om estic p assenger air transportation s e rv ic e s ...................................
In ternational p assenger air transportation s e rv ic e s ............................
P assenger rail tran spo rta tion s e r v ic e s ....................................................
P assenger w ater transportation s e rv ic e s ...............................................
Interurban bus tra n s p o rta tio n ..................
Interurban ch a rte r bus tra n s p o rta tio n ....
Urban tran sit system s and o the r tra nsp ortation s e rv ic e s ...................
Taxi s e rv ic e ....................................................
S cenic a nd sightseeing tran spo rtatio n s e rv ic e s ....................................
A utom otive re n ta l...........................................................................................
O the r veh icle re n ta l........
A utom otive re pa ir s e rv ic e s .........................................................................
Parking lots and garages
H ighw ay t o lls ....................
Travel arra ng em e nt and re servation s e rv ic e s ........................................
M otion pictures and perform ing a rts .........................................................
S pectator s p o rts ............................................................................................
P articipant sp o rts ...........................................................................................
G a m b lin g .........................................
All oth e r recreation and e n te rta in m e n t....................................................
G a s o lin e ..........................................
W holesale trade and transportation m argins on g a s o lin e ..................
Retail trade m argins on g a s o lin e .............7............ ' .................................
N on durable PC E com m od itie s o th e r th an g a s o lin e .............................
W h olesa le trad e and tra nsp orta tion m argins on nondurable PCE
com m o ditie s oth e r tha n g a s o lin e ..........................................................
R etail tra d e m a rgins o n nondurable P C E com m odities other than
g a s o lin e .......................................................................................................
A ll othe r c om m odities, except all oth e r trade and transportation
m a rg in s ........................................................................................................
All o th e r w ho lesa le trade and tra nsp ortation m a rg in s .........................
All oth e r retail trade m arg in s.......................................................................
Travel by U.S. residents a b ro a d ............................
Industry o u tp u t................................................................................................
In term ediate inputs
V alue a d d e d ......................
C o m pe nsa tio n o f e m p lo y e e s .................................................................
Taxes on p roduction and im ports, less s u b s id ie s ............................
G ross operating s u rp lu s .........................................................................
105,783
32,390
N onfarm
Food
residential
services
tenant
and
occupied
drinking
perm anent
places
site
12,484
Air
trans
portation
504
491,492
Rail
trans
portation
W ater
tra n s
portation
Interurban
bus
trans
portation
Urban
Interurban
transit
ch a rte r
system s
bus
and other
tra n s
trans
portation
portation
Taxi
service
S cenic and
sightseeing
tra n s
portation
A utom otive
equipm ent
rental and
leasing
Autom otive Parking
repair
lots and
services
garages
Toll
highw ays
81
65,858
39,134
1,357
11,163
1,666
40
43
16
5
12
770
186
29
14
72
21,153
13
32
4
21
12
22
17
42
12,202
35
31
2.694
2 6,269
647
4
1
105,910
10,651
9,496
29,921
1
486
1,793
13
1
839
139
36
1,556
2,063
3,775
2 59,580
4
173,949
62,403
111,546
57,991
15,854
37,701
5,838
27,411
3,432
6
4
30,624
3,684
13,831
23,436
2 6,625
1,518
58
27
3,846
59
36
8
253
1,701
146,698
86,762
59,936
43,585
7,666
8,685
67,909
27,602
40,306
19,924
804
19,579
43,594
27,300
16,294
10,879
603
4,813
1,807
741
1,067
787
14
265
1,028
210
818
654
17
146
25,157
14,886
10,272
22,140
-1 6
-1 1 ,8 5 3
12,311
4,317
7,994
5,341
511
2,143
2,828
627
2,201
924
320
957
44,788
32,115
12,673
7,896
3,862
914
121,134
62,862
58,272
2,126
969
97
272,064
69,787
202,277
9,711
28,873
163,693
495,812
2 54,526
241,285
164,111
25,740
51,435
3
17,588
13,488
32,511
8,606
17,155
-9
249
10,645
5,464
5,180
2 ,379
712
2 ,089
9,745
2,687
7,057
2,597
4 ,460
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry Account’s
commodity and industry estimates data from the Census Bureau’s accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
June 2008
U.S. Travel and Tourism S atellite A ccounts
24
Table 1. Production of Commodities by Industry, 2006-Table Ends
[Millions of dollars]
Industry
C om m odity
Traveler a c c o m m o d a tio n s ........................................................................
Food se rvice s and drinking p la c e s ........................................................
D om estic p asse ng er a ir tran spo rta tion s e r v ic e s ...............................
In te rnational p asse ng er air tra nsp orta tion s e rv ic e s .........................
Passenger rail transportation s e rv ic e s .......
P assenger w a te r tran spo rta tion s e r v ic e s ...
Interurban bus tra n s p o rta tio n ........................
Interurban c h a rte r bus tra n s p o rta tio n .........
Urban tra n sit system s and oth er tran spo rtation s e rv ic e s ...............
Taxi s e rv ic e ..........................................................
S cenic and sig h tsee in g tra nsp ortatio n s e rv ic e s ................................
Autom otive re n ta l..............................................
O ther vehicle re n ta l....................................................................................
A utom otive repair s e rv ic e s ......................................................................
Parking lots and g a ra g e s .........................................................................
H ighw ay to lls ................................................................................................
Travel arrangem ent and reservation s e rv ic e s .....................................
Motion pictures and perform ing a r ts .....................................................
S pectator s p o rts ...............................................
P articipant s p o rts ..............................................
G a m b lin g ............................................................
All other recreation and e n te rta in m e n t.......
G a s o lin e ..............................................................
W holesale trade and transportation m argins on g a s o lin e ..............
R etail trade m arg in s on g a s o lin e ...........................................................
Nondurable PCE com m odities oth e r than g a s o lin e ..........................
W h olesale tra de and tran spo rta tion m argins on nondurable PCE
com m o dities oth e r th a n g a s o lin e .......................................................
R etail trade m arg in s on nondurable PCE com m odities other than
g a s o lin e ...................................................................................................
All o th er c om m odities, except all o the r tra de and transportation
m a rg in s .....................................................................................................
All o th er w ho le sale tra de and tra n sp o rtatio n m a rg in s .....................
All o th er retail trade m a rg in s...................................................................
Travel by U.S. residents a b ro a d ..............................................................
Industry o u tp u t............................................................................................
Interm ediate in p u ts ....................................................................................
Value a d d e d .................................................................................................
C om pensation of e m p lo y e e s ..............................................................
Taxes on production and im ports, le ss s u b s id ie s .........................
Gross operating s u rp lu s ......................................................................
Travel
Motion
pictures
arrangem ent
and
and
reservation perform ing
arts
services
4
All other
S pectator Participant
recreation
Petroleum
G am bling
refineries
sports
sports
and
entertainm ent
5
382
6,225
2,492
Industries
producing
nondurable
PCE
com m odities,
excluding
petroleum
refineries
W holesale
trade and
tra n s
portation
services
4,735
28
8,223
G asoline
service
stations
Retail
trade
services,
excluding
gasoline
service
stations
7,451
12,258
10
5,965
1,075
73
72,724
All other
industries
1,334
31,681
2
57
290
1
7
84
167
411
42,628
21,241
12,964
15,181
95
176
600
58
39,731
43
2,683
61
3 9,786
36,137
37
2,774
70
1,974
561
16,497
3,941
16,563
155
49,622
242,652
87,431
1
78
44,835
204,753
1,403,289
14,445
466,934
88
159
318
563
102
2,179
98
22,733
8,736
666
12,025
2,029
4
18
45
42,814
44,177
23,140
21,037
15,625
1,728
3,685
39,996
10,624
29,372
17,010
2,291
10,071
44,089
19,266
24,823
17,901
2,449
4,474
54,488
25,856
28,632
14,955
2,832
10,845
51,991
20,908
31,083
15,651
4,551
10,880
22,536
20,278
15,068
990
4,220
120,487
588,813
65,858
39,134
1,357
11,176
1,717
956
21,780
12,216
2 ,783
27,427
730
193,048
11,062
9,496
42,628
35,076
15,181
38,878
69,714
62,229
242,652
90,062
49,199
,690,226
5 03,614
180
23
23,462
43,199
629
805,000
31,339
1,506
268,864
639,875
3,745
491,233
413,569
77,664
10,583
2,059
65,023
2,243,316
1,443,789
799,528
391,723
28,626
379,179
1,485,795
572,523
913,272
503,112
176,975
233,185
263
Dom estic
production at
producers'
prices
628,95 9
20,021
6 80,255
1,696
29,700 17,256,446
33 ,247
499,49 4
20 ,214
18,823,989
733,728
525,302
87,163
18,202
68,961
21,684
15,623
31,654
1,265,348 17,430,895
486,32 4
7,796 ,3 43
779,024
9,634,552
5,59 3,9 37
456,111
171,099
4 14,779
151,814 3,62 5,8 36
24,710,774
11,505,368
13,205,406
7,454,791
9 17,567
4,833,048
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry Account's
commodity and industry estimates data from the Census Bureau's accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
June 2008
25
S u r v e y o f C u r r e n t B u s in e s s
Table 2. Supply and Consumption of Commodities, 2006
[Millions of dollars]
C onsum ption
Supply
C o m m o d ity
Interurban bus tra n s p o rta tio n ........................................................
U rban tra n s it system s and o th e r tra nsp ortation s e rv ic e s .......
O the r ve hicle r e n ta l..........................................................................
Parking lots and g a ra g e s ............................................... -................
Travel a rra ng e m e n t and reservation s e rv ic e s ............................
W h o le s a le tra de and tra nsp ortatio n m arg ins on g a s o lin e ......
N ondurable PCE com m o dities oth e r tha n g a s o lin e ..................
W h ole sa le trade and tra nsp orta tion m argins on nondurable
PCE com m od itie s othe r th a n g a s o lin e ...................................
R etail trad e m argins on nondurable P C E com m odities other
Dom estic
production
at
p roducers’
prices
120,487
588,813
65,858
39,134
1,357
11,176
1,717
956
21,780
12,216
2,783
27,427
730
193,048
11,062
9,496
42,628
35,076
15,181
38,878
69,714
62,229
242,652
90,062
49,199
1,690,226
Im ports
Interm ediate
W holesale
Total supply
trade
G overnm ent
C hange in
Personal
G ross
m argins
Retail trade
at
consum ption private fixed
private
final
and
m argins
p u rchasers’
Private
G overnm ent
expenditures investm ent expenditures
inventories
transp o rta
prices
expenditures expenditures
tion costs
49,199
120,487
588,813
65,858
63,123
1,357
11,939
1,717
956
21,780
12,216
2,783
27,427
730
193,048
11,062
9,496
42,628
35,199
15,195
38,878
69,714
62,231
391,493
503,614
680,255
3 ,338,122
33,659
733,728
525,302 21,538,724
71,863
2 0,002
54,343
1,327,404
1,254,756 26,736,840
10,404,401
23,989
763
123
14
3
10,214
2
634
484,076
20,049
1,489,364
37,224
98,555
29,523
7,879
609
351
112
0
6,506
7,397
30
15,042
443
40,425
2,625
1,988
12,624
8,123
8,557
6,878
74
5,553
69,673
8,051
14,263
4,127
1,547
154
5
1,178
120,487
5 88,813
65,858
6 3,123
1,357
11,939
1,717
956
2 1,780
12,216
2,783
2 7,427
730
193,048
11,062
9,496
42 ,628
35 ,199
15,195
38 ,878
69 ,7 14
62,231
39 1 ,49 3
3,424
202,48 9
3,33 8,1 22
2,131,260
2,519,618
1,091,129
2 1,538,724
2,165,529
2,523,042 1,317,256
26,736,840
75,212
475,234
761
6,125
90,062
9,217
32,208
34,712
593
11,588
1,604
956
15,026
4,134
2,752
8,675
286
147,985
7,498
6,910
25,980
26,823
6,595
31,903
69,640
50,548
311,425
959,486
168,795
1.969.658
34,269
9,065,073
876,941
5,854,703
1,102,103
9,224,508
2
248
685
1
3,710
1
4,630
939
598
1,919
33
18
98
E xpo rts of
Total
goods and
consum ption
services
18,984
8
2,106
220
25
503,614
680,255
All o th er c om m odities, except all o th e r tra de and
A ll othe r w h ole sa le trade and tran spo rta tion m a rg in s .............
18,823,989
733,728
525,302
71,863
Total..................................................................................................
24,710,774 2,080,409
7 1,863
51,861
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry Account's
commodity and industry estimates data from the Census Bureau’s accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
Table 3. Demand for Commodities by Type of Visitor, 2006
[Millions of dollars]
C om m odity
Total consum ption
120,487
Food se rv ic e s and drinking p la c e s ...................................................
D o m estic p a sse n ge r air tran spo rtatio n s e rv ic e s ..........................
International passenger air transportation s e rv ic e s ....................
P assenger rail tran spo rta tion s e rv ic e s ............................................
P assenger w a te r tran spo rta tion s e r v ic e s .......................................
Interurban bus tra n s p o rta tio n ............................................................
Interurban ch a rte r bus tra n s p o rta tio n ..............................................
Urban transit system s and other transportation s e rv ic e s ...........
Taxi s e rv ic e .............................................................................................
S cenic and sigh tse eing tran spo rtatio n s e rv ic e s ...........................
A utom otive re n ta l...................................................................................
O the r ve hicle r e n ta l..............
A utom otive rep a ir s e r v ic e s .
P arking lots and g ara ge s....
H ighw ay to lls ...........................
Travel arra ng em e nt and re servation s e rv ic e s ................................
M otion pictures and perform ing a r ts ................................................
S pectator s p o rts ....................................................................................
P articipant s p o rts ...................
G a m b lin g .................................
All other recreation and e n te rta in m e n t............................................
G a s o lin e ..................................................................................................
N ondurable PCE com m odities oth e r than g a s o lin e .....................
5 88,813
6 5,858
63,123
1,357
11,939
1,717
956
21,780
12,216
2,783
27,427
730
193,048
11,062
9,496
42,628
35,199
15,195
38,878
69,714
62,231
391,493
3,338,122
21,538,724
R esident
households
B usiness
G overnm ent
N onresidents
51,563
57,853
26,400
34,712
486
10,873
1,314
783
2,571
1,282
2,256
5,790
122
6,978
1,186
439
24,881
7,171
1,601
7,185
28,708
13,829
46,086
8 0,307
37,224
33,954
2 9,523
7,879
609
8,051
7,330
4,127
1,547
154
112
2
1,133
2,384
30
14,866
443
2,788
423
128
12,090
4,020
4,230
3,411
43
221
1
3,667
1
213
151
39
1,838
2,746
18,417
25,164
Total demand less travel by U.S. residents abroad..................
26,664,976
414,378
201,574
Travel by U.S. residents a b ro a d .........................................................
71,863
51,861
20,002
Total demand......................................................................................
26,736,840
466,240
221,576
Total tourism
dem and
1,404
2,941
23,649
17,760
5,808
18,984
107
351
289
172
260
154
496
509
112
1,269
129
90
2,106
996
331
562
6,107
1,125
2,671
19,243
120,487
116,897
65,858
63,123
1,357
11,224
1,717
956
4,008
4,041
2,783
24,833
678
11,248
1,889
696
40,914
12,187
6,162
11,159
34,815
17,700
68,578
127,656
31,729
103,283
750,964
Tourism
com m o dity ratio
N ontourism
dem and
471 ,91 6
715
7,772
8,175
2,595
51
181,801
9,173
8,800
1,714
23,012
9,033
27,720
34,899
44,530
3 22,915
3,210,46 6
21,538 ,7 24
103,283
822,827
0.96
0.35
0.41
0.29
0.50
0.28
0.18
0.04
0.00
25,914,012
1.00
71,863
31,729
1.00
0.20
1.00
1.00
1.00
0.94
1.00
1.00
0.18
0.33
1.00
0.91
0.93
0.06
0.17
0.07
25,914,012
PCE Personal consumption expenditures
N o t e . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry A ccounfs
commodity and industry estimates data from the Census Bureau’s accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
26
U.S. Travel and Tourism Satellite A ccounts
June 2008
Table 3a. Demand for Commodities by Type of Visitor (Unadjusted for Travel Arrangement Commissions), 2006
[Millions of dollars]
C o m m od ity
Food se rvice s a nd drin kin g p la c e s ...................................................
D om estic p asse ng er a ir tra nsp ortation s e r v ic e s ..........................
In tern atio na l p a sse n ge r air tra nsp ortation s e rv ic e s ....................
P assenger rail tran spo rta tion s e rv ic e s ............................................
Passenger w a ter tran spo rta tion s e rv ic e s .......................................
Interurban bus tra n s p o rta tio n ............................................................
U rban tra n sit system s and other transportation s e rv ic e s ...........
Taxi s e rv ic e ..............................................................................................
S cenic and sightseeing transportation s e rv ic e s ...........................
A utom otive re n ta l...................................................................................
O the r vehicle re n ta l..............
A utom otive repair s e rv ic e s ..
P arking lots and g a ra g e s .....................................................................
H ighw ay to lls ..........................................................................................
Travel arra ng em e nt and reservation s e rv ic e s ................................
P articipant s p o r ts .............................................
G a s o lin e ..............................................................
N ondurable PCE com m odities oth e r than g a s o lin e .....................
Total d e m a n d less travel by
U.S.
residents abroad...................
Total consum ption
Resident
households
Business
G overnm ent
N onresidents
Total tourism
dem and
125,660
588,813
72,844
70,767
1,657
13,427
1,717
968
21,883
12,284
2,802
30,928
730
193,048
11,062
9,496
18,110
35,242
15,230
38,878
71,143
62,301
391,493
3 ,338,122
21,538,724
5 3,777
5 7,853
29,200
38,915
594
12,314
1,314
793
2 ,637
1,304
2,271
6,607
122
6,978
1,186
439
10,478
7,196
1,610
7,185
2 9,886
13,884
46,086
80,307
38,822
33,954
32,655
8,833
744
8,396
7,330
4,565
1,735
188
2 4,665
17,760
6,424
112
2
1,162
2,424
30
16,962
443
2,788
423
128
3,502
4,034
4,254
3,411
44
225
1
4 ,184
1
213
151
39
311
2,757
18,417
25,164
1,404
2,941
19,243
125,660
116,897
72,844
70,767
1,657
12,712
1,717
968
4,110
4,109
2,802
28,333
678
11,248
1,889
696
16,396
12,229
6,197
11,159
3 6,244
17,770
68,578
127,656
26,667,329
412,938
201,019
31,729
107,631
753,316
7 3,859
53,301
20,557
26,741,188
466,240
31,729
107,631
827,175
21,283
131
398
289
175
267
157
500
581
112
1,269
129
90
2,106
1,000
333
562
6,358
1,129
2,671
N ontourism
dem and
Tourism
c o m m o dity ratio
1.00
0.20
1.00
1.00
1.00
0.95
1.00
1.00
0.19
0.33
1.00
0.92
0.93
0.06
0.17
0.07
0.91
0.35
0.41
0.29
0.51
0.29
0.18
0.04
0.00
4 71,916
715
17,772
8,175
2,595
51
181,801
9 ,173
8 ,800
1,714
23,012
9,033
27,720
34,899
44,530
322,915
3,210 ,4 66
21,5 3 8,7 2 4
25,914,012
73,859
221,576
1.00
25,914,012
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry Account's
commodity and industry estimates data from the Census Bureau's accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
Table 4. Output and Value Added by Industry, 2006
[Millions of dollars]
Industry
Industry output
In term ediate
consum ption
Value added
Tourism industry ratio
Tourism output
Tourism interm ediate
consum ption
Tourism
value added
Traveler a c c o m m o d a tio n s .....................................................................
N onfarm residential te n an t o c cupied perm anent s ite ..................
Food se rvice s and d rinking p la c e s ....................................................
Air transportation s e rv ic e s ...................................................................
Rail transportation s e rv ic e s .................................................................
W ater transportation s e rvice s..............................................................
Interurban bus tra n s p o rta tio n ..........
Interurban c h a rte r bus tra n s p o rta tio n ...............................................
Urban tran sit system s and oth e r tra n s p o rta tio n ............................
Taxi s e rv ic e ...............................................................................................
S cenic and sightseeing tra n s p o rta tio n .............................................
A utom otive equipm ent rental and le a s in g .......................................
A utom otive repair s e rv ic e s ..................................................................
P a rk in g ...................................................
Toll h ig h w a y s ...........................................................................................
Travel a rrangem ent and reservation s e rv ic e s .................................
M otion pictures and perform ing a rts ..................................................
S pectator s p o rts ..................................
P articipant s p o r ts ...............................
G a m b lin g ..............................................
All other recreation and e n te rta in m e n t.............................................
Petroleum re fin e rie s ..............................................................................
Industries producing nondurable PCE com m odities, excluding
petroleum re fin e rie s...........................................................................
W holesale trade and transportation s e rv ic e s .................................
G asoline se rvice s ta tio n s .....................................................................
R etail trade services, excluding gasoline service s ta tio n s .........
All o th e r in d u s trie s ..................................................................................
173,949
272,064
495,812
146,698
67,909
43,594
1,807
1,028
25,157
12,311
2,828
44,788
121,134
10,645
9,745
4 2,814
44,177
3 9,996
44,089
54,488
51,991
491,233
62,403
69,787
254,526
86,762
27,602
27,300
741
210
14,886
4,317
627
32,115
62,862
5,464
2,687
22,536
23,140
10,624
19,266
25,856
20,908
4 13,569
111,546
202,277
241,285
59,936
40,306
16,294
1,067
818
10,272
7,994
2,201
12,673
58,272
5,180
7,057
20,278
21,037
29,372
24,823
28,632
31,083
77,664
0.73
0.05
0.20
0.72
0.04
0.25
0.95
0.82
0.16
0.33
0.97
0.54
0.05
0.17
0.07
0.96
0.17
0.29
0.27
0.37
0.25
0.10
127,237
12,484
9 8,324
105,280
2,735
10,789
1,714
845
4,016
4,044
2,752
24,391
6,177
1,819
696
40,917
7,372
11,447
12,032
20,386
13,215
50,335
4 5,645
3,202
50,475
62,267
1,112
6,757
702
173
2,376
1,418
610
17,489
3,205
934
192
21,537
3,861
3,041
5,258
9,673
5,314
42,377
81,592
9,282
47,849
43,014
1,623
4,033
1,012
673
1,640
2 ,626
2,142
6,901
2,971
885
504
19,380
3,510
8,406
6,774
10,712
7,901
7,958
2,243,316
1,485,795
87,163
1,265,348
17,430,895
1,443,789
572,523
18,202
486,324
7,796,343
799,528
913,272
68,961
779,024
9,634,552
0.02
0.02
0.12
0.03
0.00
54,234
34,204
10,587
3 3,247
15,507
34,905
13,180
2,211
12,778
6,936
19,329
2 1,024
8,376
20,469
8,571
Total.......................................................................................................
24,710,774
11,505,368
13,205,406
706,786
357,628
349,157
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the Annual Industry Account’s
commodity and industry estimates data from the Census Bureau’s accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incorporated in the NIPA estimates of GDP which were
released in July 2007.
June 2008
27
S u r v e y o f C u r r e n t B u s in e s s
Table 5. Output by Commodity, 2006
[Millions of dollars]
Dom estic production
at p u rchasers’ prices
Com m odity
Tourism com m odity ratio
D irect tourism output
Total com m odity
output m ultiplier
Total tourism -re la te d output
Traveler a cco m m o d a tio n s ................................................................................
Food service s and drinking p la c e s ............
D o m estic p a sse n ge r air transportation s e rv ic e s .......................................
International passenger air transportation s e rv ic e s .................................
Passenger rail tra nsp o rta tio n s e rv ic e s .....
Passenger w a ter tran spo rtation services.
In terurban bus tra n s p o rta tio n .....................
In terurban c h a rte r bus tra n s p o rta tio n ..........................................................
Urban tran sit system s and other transportation s e rv ic e s ........................
Taxi s e r v ic e .........................................................................................................
S cen ic and sightseeing transportation s e rv ic e s ........................................
A utom otive re n ta l...............................................................................................
O ther vehicle re n ta l...........................................................................................
A utom otive repair s e rv ic e s ..............................................................................
P arking lots and g a ra g e s ................................................................................
H ighw ay to lls .......................................................................................................
Travel arrangem ent and reservation s e rv ic e s ............................................
M otion pictures and perform ing a r t s ............................................................
S pectator s p o rts ...............................
P articipant s p o rts ............................
G a m b lin g ............................................
A ll othe r recreation and e n te rta in m e n t.........................................................
G a s o lin e .............................................
N ondurable PCE com m odities oth e r than g a s o lin e .................................
120,487
588,813
65,858
39,134
1,357
11,176
1,717
956
21,780
12,216
2,783
27,427
730
193,048
11,062
9,496
42,628
35,076
15,181
38,878
69,714
62,229
381,913
2,874,095
1.00
0.20
1.00
1.00
1.00
0.94
1.00
1.00
0.18
0.33
1.00
0.91
0.93
0.06
0.17
0.07
0.96
0.35
0.41
0.29
0.50
0.28
0.18
0.04
120,487
116,897
65,858
39,134
1,357
10,507
1,717
956
4,008
4,041
2 ,783
24,833
678
11,248
1,889
696
40,914
12,144
6,156
11,159
34,815
17,700
66,900
109,910
1.54
1.88
1.70
1.84
2.08
185,640
219,75 5
111,711
66,381
2 ,202
2 0,779
2,939
1,636
6,861
6,917
4,070
40,744
1,113
19,230
3,229
1,349
66,275
21,480
10,073
18,053
56,326
29,115
122,867
2 28,115
Total..................................................................................................................
4,627,755
0.15
706,786
1.76
1,246,860
1.70
1.62
1.98
1.71
1.71
1.71
1.71
1.46
1.64
1.64
1.71
1.71
1.94
1.62
1.77
1.64
1.62
1.62
1.64
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the s u m of value added for all industries differ fro m the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the
Annual Industry Account’s commodity and industry estimates data from the Census Bureau's accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incor
porated in the NIPA estimates of GDP which were released in July 2007.
Table 6. Employment and Compensation of Employees by industry, 2006
Industry
Total em ploym ent
(thousands of
em ployees)
C om pensation
(m illions o f dollars)
Tourism
industry ratio
Traveler acco m m o d a tio n s.............................................................................
Nonfarm residential tenant occupied p erm anent s ite ...........................
Food service s and drinking p la c e s ............................................................
A ir transportation s e rv ic e s ..........................................................................
Rail transportation s e rv ic e s ........................................................................
W ater transportation s e rv ic e s ....................................................................
Interurban bus tra n s p o rta tio n .....................................................................
Interurban c h a rte r bus tra n s p o rta tio n .......................................................
Urban transit system s and other tra n s p o rta tio n .....................................
Taxi s e rv ic e .....................................................................................................
S cenic and sig htseeing transportation s e rv ic e s .....................................
Autom otive equipm ent rental and le a s in g ...............................................
Autom otive repair s e rv ic e s ..........................................................................
Parking lots and garages .
Toll h ig h w a y s ...................................................................................................
Travel arrangem ent and reservation s e rv ic e s ........................................
M otion pictures and perform ing a r t s .........................................................
S pectator s p o rts ...............................
P articipant s p o rts ............................
G a m b lin g ............................................
A ll othe r recreation a n d e n te rta in m e n t.....................................................
Petroleum re fin e rie s ......................................................................................
Industries producing nondurable PCE com m odities, excluding
petroleum re fin e rie s .................................................................................
W holesale trade and transp o rta tio n s e rv ic e s .........................................
G asoline s ervice s ta tio n s .............................................................................
Retail trade services, excluding gasoline service s ta tio n s ..................
A ll othe r in d u s trie s .........................................................................................
1,841
207
9,427
621
228
174
23
24
370
150
18
180
866
83
60
205
186
223
840
471
461
72
57,991
9,711
164,111
43,585
19,924
10,879
787
654
22,140
5,341
924
7,896
32,511
2,379
2,597
15,068
15,625
17,010
17,901
14,955
15,651
10,583
0.73
0.05
0.20
0.72
0.04
0.25
0.95
0.82
0.16
6,457
7,673
649
15,222
96,809
391,723
503,112
21,684
456,111
5,593,937
Total..............................................................................................................
143,542
7,454,791
PCE Personal consumption expenditures
Tourism em ploym ent
(thousands of
em ployees)
Tourism
com pensation
(m illions of dollars)
Average
c om pensation
per tourism em ployee
42,418
446
32,545
31,279
802
2,692
747
538
3,535
0.33
0.97
0.54
0.05
0.17
0.07
0.96
0.17
0.29
0.27
0.37
0.25
0.10
1,347
10
1,869
446
9
43
22
20
59
49
18
98
44
14
4
196
31
64
229
176
117
7
1,755
899
4,300
1,658
406
185
14,401
2,607
4,868
4,885
5,595
3,978
1,084
31,502
4 6,839
17,409
70,174
87,463
62,668
33,641
27,066
59,879
35,491
50,198
43,752
37,553
28,561
43,381
73,389
84,061
76,158
2 1,320
3 1,730
33,919
147,854
0.02
0.02
0.12
0.03
0.00
156
177
79
400
86
9,470
11,582
2,634
11,984
4,977
60,667
6 5,568
33,403
2 9,964
57 ,783
5,772
202,272
28
U.S. Travel and Tourism S atellite A ccounts
June 2008
Table 7. Employment by Industry, 2006
[T h o u s a n d s o f e m p lo y e e s ]
Industry
D irect tourism em ploym ent
Total industry em ploym ent m ultiplier
Total tourism -related em ploym ent
Traveler a cc o m m o d a tio n s .............................................................................
N onfarm residential te n an t occupied perm anent s ite ...........................
Food s e rvice s an d drin king p la c e s ............................................................
A ir transportation s e rv ic e s ..........................................................................
Rail transportation se rv ic e s .........................................................................
W ater transportation s e rv ic e s ....................................................................
Interurban bus tra n s p o rta tio n .....................
In terurban c h a rte r bus tra n sp o rta tio n .......
U rban tra nsit system s an d oth e r tra n s p o rta tio n .....................................
Taxi s e r v ic e .....................................................
S cenic and sightseeing transportation s e rv ic e s .....................................
A utom otive equipm ent rental and leasing
A utom otive repair s e rv ic e s ..........................
P arking lots and g a ra g e s..............................................................................
Toll h ig h w a y s ...................................................
Travel arrangem ent and reservation se rv ic e s.........................................
M otion p ictures and pe rfo rm ing a rts .........
S pe cta tor s p o rts .............................................
P a rticipant s p o r ts ...........................................
G a m b lin g ..........................................................
A ll othe r recreation and e n te rta in m e n t.....
Petroleum re fin e rie s ......................................................................................
In du strie s prod ucing no ndurable PCE com m odities, excluding
p etroleum r e fin e rie s ..................................................................................
W h olesa le trade and tran sportation s e rv ic e s .........................................
G a soline s ervice s ta tio n s .............................................................................
R etail trad e services, excluding gasoline service s ta tio n s ..................
A ll o th er in d u s trie s ..........................................................................................
1,347
10
1,869
446
9
43
22
20
59
49
18
98
44
14
4
196
31
64
229
176
117
7
1.23
2.97
1.34
1.77
1.93
3.64
1.44
1.44
1.44
1.44
1.44
2.35
1.54
2.09
1.79
1.54
2.16
1.70
1.29
1.44
1.54
3.31
1,657
28
2,500
790
18
156
32
29
85
71
156
177
79
400
86
2.88
1.57
1.20
1.20
1.94
449
278
95
480
167
Total...............................................................................................................
5,772
26
230
68
30
8
302
67
109
295
254
181
24
8,429
PCE Personal consumption expenditures
Table 8. Real Tourism Output, 2006
C om m odity
D irect output (m illions of dollars)
C hain-type price index
Real output (m illions o f chained (2000) dollars)
Traveler a cc o m m o d a tio n s .............................................................................
Food se rvice s a nd drinking p la c e s ............................................................
D o m estic passe ng er air transportation s e rv ic e s ....................................
In te rn a tio n al p a sse ng e r air transportation s e rv ic e s ..............................
P assenger rail tra n sp o rtation s e rv ic e s .....................................................
Passenger w ater transportation s e rv ic e s ................................................
Interurban bus tra n s p o rta tio n .......
Interurban c h a rte r bus tra n sp o rta tio n ........................................................
Urban tran sit system s and other transp o rta tio n s e rv ic e s ....................
Taxi s e r v ic e ......................................................................................................
S cenic and sightseeing transportation s e rv ic e s .....................................
A utom otive re n ta l...........................................................................................
O ther vehicle re n ta l........................................................................................
Autom otive rep a ir services
P arking lots and g arages..
H ighw ay to lls ......................
Travel arran g em e nt an d reservation s e rv ic e s .........................................
M otion p ictures and p erform ing a rts ..........................................................
S pe cta tor s p o rts ..............................................................................................
P articipa nt s p o r ts ..............
G a m b lin g ..............................
A ll othe r recreation and e n te rta in m e n t.....................................................
G a s o lin e ............................................................................................................
N ondurable PCE com m odities oth e r than g a s o lin e ...............................
120,487
116,897
65,858
39,134
1,357
10,507
1,717
956
4,008
4,041
117.1
118.6
89.8
131.2
106.1
81.4
127.4
121.0
121.7
129.4
2,783
24,833
678
11,248
1,889
696
40,914
12,144
6,156
11,159
34,815
17,700
66,900
109,910
121.0
115.8
118.5
122.2
129.4
132.2
105.3
125.0
129.8
115.5
117.0
118.7
170.7
108.3
102,887
98,572
73,343
29,821
1,278
12,915
1,348
790
3,292
3,124
2 ,30 0
21,437
573
9,204
1,460
526
38,859
9,713
4,742
9,660
2 9,767
14,910
39,187
101,497
Total...............................................................................................................
706,786
115.7
610,812
PCE Personal consumption expenditures
N o te . For 2005 and 2006, the sum of final uses for all commodities and the sum of value added for all industries differ from the national income and product accounts (NIPA) estimates of GDP due to the incorporation in the
Annual Industry Account’s commodity and industry estimates data from the Census Bureau’s accelerated November 2007 release of the Annual Survey of Manufactures (ASM). These source data were not available to be incor
porated in the NIPA estimates of GDP which were released in July 2007.
29
June 2008
■ B E A
B R IE F IN G
I m p r o v i n g B E A ’s A c c o u n t s T h r o u g h F l e x i b l e A n n u a l
R e v is io n s
A
S PART o f its continuing effort to accurately p o r
tray the dynam ic U.S. economy, the Bureau o f
Econom ic Analysis (BEA) will soon adopt a new ap
proach to annual revisions o f its econom ic accounts
th at will allow im provem ents in concepts, definitions,
and source data to be introduced earlier than previ
ously possible. Starting in 2010, BEA plans to in tro
duce “flexible” annual revisions th at will retain the
features o f the current annual revisions o f BEA’s n a
tional, industry, and regional accounts b u t will also al
low for the kind o f im provem ents that traditionally
were reserved for BEA’s com prehensive revisions,
w hich historically occurred every 5 years.1 Flexible an
nual revisions will accelerate im provem ents to BEA’s
accounts by expanding the current 3-year period o f re
vision to earlier periods if necessary. This new ap
proach will provide several benefits to BEA and its
custom ers. D ata users will have a m ore accurate and
up -to -d ate set o f accounts w ith fewer changes reserved
for com prehensive revisions. Internally, flexible annual
revisions will allow BEA to better allocate its resources.
This BEA Briefing provides an overview o f BEA’s
plans for conducting flexible annual revisions in the
national, industry, and regional accounts. See chart 1
for an overview. The first part discusses why BEA is
adopting a new approach and provides som e back
g round on the role o f annual revisions in im proving
accuracy and m aintaining consistency in BEA’s eco
nom ic accounts. The second p art discusses the scope
o f flexible annual revisions, how they will differ from
the current annual revisions, and examples o f changes
1. The timetable for introducing flexible annual revisions for the national
income and product accounts (NIPAs) was announced in the July 2007
issue o f the Survey of Current Business, see <www.bea.gov/scb/pdf/2007/
07%20July/0707_ta.pdf>. The concept o f flexible annual revisions was dis
cussed at the May 2006 and November 2006 meetings of BEA’s Advisory
Committee and at the April 2007 National Economic Accounts Data Users’
Conference. See <www.bea.gov/about/advisory.htm> and < www.bea.gov/
agency/exhibit_schedule.htm>.
This article was prepared by Robert J. Kornfeld, Brian C.
Moyer, George M. Smith, D avid F. Sullivan, and Robert
E. Yuskavage
that m ight be introduced. The third p art discusses how
com parisons o f estimates in the national econom ic ac
counts and industry accounts can be used to im prove
b o th sets o f accounts through enhanced integration.
Finally, the fourth p art presents issues th at BEA will
face in im plem enting flexible annual revisions and a
tentative tim etable.
In the near future, BEA intends to publish ad d i
tional articles in the S u r v e y o f C u r r e n t B u s in e s s w ith
m ore details about flexible annual revisions. BEA en
courages its custom ers to consider how flexible annual
revisions will affect their uses o f BEA’s estim ates and to
provide feedback and questions.
Why flexible annual revisions?
Currently, BEA reserves m ajor im provem ents in defi
nitions, classifications, and m ethodologies in its eco
nom ic accounts to periodic “com prehensive revisions.”
C om prehensive revisions are usually conducted at 5year intervals that correspond w ith the integration of
u pdated statistics from BEA’s quinquennial benchm ark
in p u t-o u tp u t (I-O ) accounts. BEA has often in tro
duced m ajor im provem ents to the accounts in com
prehensive revisions because m any o f these
im provem ents also require revisions to a large n um ber
o f years or to m ultiple com ponents w ithin the ac
counts.
In contrast, BEA’s annual revisions are designed p ri
m arily to update the accounts with source data for re
cent periods, for example, inform ation on dom estic
p roduction, sales, and inventories from Census Bureau
surveys and inform ation from foreign trade reports.
BEA has also used annual revisions to introduce im
provem ents in m ethodologies that prim arily affected
these recent periods. By convention, annual revisions
have been lim ited to the 3 m ost recent years. As a re
sult, som e im provem ents that would also significantly
affect earlier periods have been reserved for com pre
hensive revisions in order to preserve tim e-series co n
sistency.
In January 2005, BEA established an internal in
tegration team to explore ways to im prove b o th the
national and industry accounts by further integrating
30
Flexible Annual R evisions
the m ethodologies and procedures used in these ac
counts and to explore ways to im prove the com pre
hensive revision process. After the 2003 com prehensive
revision o f the NIPAs, BEA realized th at changes were
needed in the scope o f com prehensive revisions be
cause th at com prehensive revision introduced a large
n u m b er o f im p o rtan t and com plex changes that were
difficult for BEA’s staff to im plem ent and for BEA’s
custom ers to easily absorb all at one tim e.2
O ne im p o rtan t outcom e o f the integration team ’s
w ork was initiating an annual “feedback loop” between
the industry and national accounts to im prove the esti
m ates in b o th accounts. At the same tim e, the team
recognized th at im plem enting m ajor im provem ents
derived from the feedback loop w ould be very difficult
2.
The 2003 comprehensive revision of the NIPAs was described in
Eugene P. Seskin and Daniel Larkins, “Improved Estimates of the National
Income and Product Accounts for 1929-2002: Results of the Comprehen
sive Revision,” Survey 84 (February 2004): 7-29.
June 2008
in the fram ew ork o f BEA’s existing annual revision
process and that a m ore flexible approach was needed.
A nother im p o rtan t outcom e o f the team ’s w ork was
the recognition th at the every-5-year com prehensive
revision process was insufficient for keeping up w ith
the rapid, continuous changes in the U.S. econom y
and w ith changes in international econom ic account
ing standards. In this area as well, BEA recognized th at
a m ore flexible approach to introducing changes in
definitions, classifications, and m ethodologies was
needed.
At the recom m endation o f the integration team ,
BEA decided to im plem ent flexible annual revisions.
Flexible annual revisions will allow som e o f the com
plex and cross-cutting im provem ents currently in tro
duced only every 5 years during com prehensive
revisions to be incorporated into the accounts on a
flow basis, providing the users o f BEA’s econom ic ac
counts better inform ation earlier. BEA’s users will also
Chart 1. Flexible Annual Revisions and Future Comprehensive Revisions, Compared With Traditional
Revisions
T r a d itio n a l A n n u a l R e v is io n s
• R e le a s e d
o n c e
•
R e v is e d
•
In c o rp o ra te d
•
L im ite d
th e
•
3
F le x ib le
a y e a r ty p ic a lly
s ta tis tic s
fo r th e
r e c e n tly
c h a n g e s
in
3
• W ill c o n t in u e
m o s t re c e n t y e a rs
u p d a te d
m e th o d s
s o u rc e
a n d
d a ta
d e fin itio n s
fro m
to
• W ill p o te n t ia lly
b e
fo r
in c o r p o r a te
e s tim a te s
in
th e
re fe re n c e
d e fin itio n s
y e a r
W ill r e v is e
3
s o m e
th a t w e re
c o m p r e h e n s iv e
•
o n c e
s ta tis tic s
a y e a r
fo r th e
e n tir e
tim e
m o s t re c e n t y e a rs , to
im p o r t a n t im p r o v e m e n t s
• W ill in c o r p o r a t e
r e v is in g
r e le a s e d
r e v is e
p e r io d , n o t ju s t f o r th e
m o s t re c e n t y e a rs
R e fr a in e d
A n n u a l R e v is io n s
c h a n g e s
p r e v io u s ly
in
m e th o d s
re s e rv e d
a n d
fo r
r e v is io n s
s ta tis tic s
fo r th e
re fe re n c e
y e a r in
s o m e
c a s e s
• W ill b e n e fit fr o m
e n h a n c e d
a c c o u n ts , n o ta b ly
th e
T r a d itio n a l C o m p r e h e n s iv e
•
R e le a s e d
•
In te g ra te d
e v e ry
5 y e a rs
s ta tis tic s
ty p ic a lly
fro m
B E A ’s
b e n c h m a rk
R e v is e d
s ta tis tic s
• In c o rp o ra te d
fo r th e
e n tir e
m a jo r c h a n g e s
th e
p e r io d
m e th o d s
a n d
re fe re n c e
y e a r
to
b e
to
in t e g r a t e
a n d
r e le a s e d
e v e ry
5 y e a rs
s ta tis tic s
fro m
ty p ic a lly
B E A ’s
in p u t- o u tp u t a c c o u n ts
• W ill c o n t in u e
a re
B E A
R e v is io n s
• W ill c o n t in u e
p e r io d
a m o n g
a c c o u n ts
p ro d u c t a c c o u n ts
• W ill c o n tin u e
w h e n
• W ill c o n t in u e
d e fin itio n s
• U p d a te d
in
tim e
in t e g r a t io n
a n n u a l in d u s tr y
a n d
C o m p r e h e n s iv e
b e n c h m a rk
in p u t- o u tp u t a c c o u n ts
•
n a tio n a l in c o m e
F u tu re
R e v is io n s
th e
to
r e v is e
s ta tis tic s
fo r th e
e n tir e
tim e
a p p r o p r ia te
to
in c o r p o r a te
f ir s t in c o r p o r a te d
in
th e
c o m p le x
c h a n g e s th a t
b e n c h m a rk
in p u t- o u tp u t
a c c o u n ts
• W ill r e s u lt in
le s s
o n e ro u s
b e e a s ie r f o r c u s to m e r s
• W ill c o n t in u e
U.S. Bureau of Economic Analysis
to
u p d a te
to
th e
c h a n g e s
th a t w ill lik e ly
d ig e s t
re fe re n c e
y e a r
June 2008
S u r v e y o f C u r r e n t B u s in e s s
benefit from having fewer cross-cutting im provem ents
to absorb w hen trying to understand how and why the
longterm picture of the econom y has changed in com
prehensive revisions. (C om prehensive revisions update
estim ates over long tim e periods.)
Flexible annual revisions will also strengthen BEA’s
review o f m any account im provem ents by rem oving
th em from the peak production periods leading up to
com prehensive revisions when the dem ands on BEA
staff are greatest.
In addition, flexible annual revisions are expected to
im prove the accounts by increasing the frequency and
scope o f staff interaction across BEA’s program areas.
Because BEA’s national, industry, regional, and in ter
national accounts are integrated, incorporating im
provem ents th at arise from any o f these program areas
requires close coordination. For example, state-level
estim ates o f gross dom estic pro d u ct (GDP) by in d u s
try include allocations o f U.S.-level estim ates o f GDP
by industry, whereas U.S.-level industry estim ates of
taxes on p ro d uction reflect aggregations o f state-level
in d u stry data. Historically, staff interactions across
p rogram areas in reviewing and im plem enting cross
cutting proposals for com prehensive revisions have re
sulted in exchanges o f source data, m ethodologies, and
insights th at led to further im provem ents in the ac
counts. W ith flexible annual revisions, these dialogues
will becom e continuous rather th an periodic around
com prehensive revisions. D istributing this w ork over a
longer period will also help BEA increase its efficiency
in producing econom ic accounts in a tight budget cli
m ate.
Scope of flexible annual revisions
The 3-year scope o f annual revisions has served BEA’s
business, governm ent, and academ ic custom ers well
for m any years b u t has delayed som e im p o rtan t
changes to the accounts until com prehensive revisions.
M any im provem ents, such as a m easure for a new ser
vice or new source data for a transaction, are in tro
duced in annual revisions; however, the current 3-year
scope prevents im provem ents significantly affecting
earlier years from being introduced in annual revi
sions.
O ther im provem ents, such as a new treatm ent of re
search and developm ent expenditures, are too com pre
hensive and com plex to incorporate into an annual
revision an d need to be incorporated into a bench
m ark I-O table before incorporation in BEA’s other
econom ic accounts. Flexible annual revisions would
allow the less com prehensive and less com plex im
provem ents to be introduced into BEA’s accounts once
31
they are ready. Such im provem ents w ould be lim ited to
those that w ould have a substantive effect on a m ajor
aggregate or th at provide a significantly clearer picture
o f econom ic activity o f w idespread m arket or policy
interest.
U nder flexible annual revisions, the curren t tim eta
ble for releasing each BEA program ’s annual revisions
will n o t change, b u t m ore flexibility in the tim e period
open to revision will be allowed in im plem enting some
o f the im provem ents. Beginning in 2010, the w indow
for allowing revisions will no longer be lim ited to the 3
m ost recent years b u t m ay extend to earlier years.
O ne change under this new policy is th at referenceyear statistics for chained-dollar estim ates and for
price and quantity indexes (currently 2000) m ay be
subject to revision. U nder the present policy, estim ates
for the reference year are n o t subject to change in
annual revisions. However, w ith flexible annual re
visions, revisions could extend to earlier years and
result in revisions to estim ates in the reference
year, potentially resulting in revisions to chaineddollar estim ates and indexes for the entire historical
period and for all related tim e series. BEA will carefully
consider the im pact o f changes that could affect refer
ence-year estimates.
Source data th at norm ally becom e available, or are
revised, for periods earlier th an the 3 m ost recent years
will be incorporated in flexible annual revisions when
they have a substantive effect on a m ajor aggregate or
provide a significantly clearer picture o f econom ic ac
tivity. For example, revisions to estim ates from BEA’s
balance o f paym ents accounts often extend back m ore
th an 3 years. These revisions will be incorporated into
the accounts w hen they are large and im portan t. Also,
final source data from the Census Bureau’s G overn
m ent Finance program w ould n o t likely be in co rp o
rated because they routinely result in m inor revisions
earlier th an the 3 m ost recent years.
Industry-national feedback loop
The feedback loop between the national and industry
accounts is expected to lead to ideas for im provem ents
th at could be introduced earlier via flexible annual re
visions. The feedback loop, w hich com pares corre
sponding estim ates in BEA’s annual industry accounts
w ith the national incom e and pro d u ct accounts
(NIPAs), becam e feasible when these accounts were in
tegrated in 2004.
For an example o f how this feedback loop m ight
lead to im proved estimates via flexible annual revi
sions, consider personal consum ption expenditures
(PCE) as m easured in the NIPAs and the annual
32
Flexible Annual R evisions
in d u stry accounts. The two m easures are conceptually
equivalent, however, each account uses its ow n estim a
tion m ethodology. The industry account’s com m odity
flow m eth o d uses source data on the dom estic supply
o f goods and services; the NIPA’s retail control m ethod
uses source data on the m erchandise sales o f the vari
ous types o f retail trade establishm ents.
Both accounts’ m ethodologies have lim itations. The
com m odity flow m ethod lacks current inform ation
on the share o f the dom estic supply o f televisions
purchased by individuals; it applies the share from the
previous benchm ark 1 -0 table. The retail control
m eth o d lacks current inform ation on the p roduct m ix
o f sales for the various types o f retailers; it applies the
p ro d u ct m ix from the previous benchm ark 1-0 table.
Recently, the com m odity flow m eth o d ’s estim ates of
PCE for televisions have been substantially higher than
the retail control m eth o d ’s estim ates published in the
NIPAs.
Research is underw ay to reconcile the largest o f the
discrepancies th at result from these alternative m eth
ods.3 Im proved estim ates o f PCE are expected from
this research.
Once im proved PCE estim ates are prepared, tested,
reviewed, and approved, flexible annual revisions
w ould allow revised PCE estim ates to be incorporated
in b o th recent and earlier periods if necessary to retain
tim e series consistency.
Implementation issues
Im plem enting flexible annual revisions w ithin the
tight tim efram es now used for annual revisions o f n a
tional, international, industry and regional accounts
will require early reviews o f proposed im provem ents.
Some revisions m ay require new m ethods to incorpo
rate at the regional level. BEA’s program areas have ini
tiated test im plem entation procedures that will (1)
show the full im pact o f a proposed im provem ent, (2)
clarify w hen it is ready for im plem entation, and (3) ex
pedite the im plem entation o f approved im provem ents.
These review procedures are generally m ore far reach-
June 2008
ing than the procedures that were previously possible
in com prehensive revisions.
BEA has already begun developing new test and im
plem entation procedures for flexible annual revisions.
For example, testing a proposed reclassification o f PCE
for the 2009 com prehensive revision o f the NIPAs is
well underw ay using prototype procedures.4 BEA staff
are identifying and coordinating w ork on research th at
m ay result in im provem ents for future flexible annual
revisions. Several research projects identified on BEA’s
strategic plan are am ong those that m ay be considered
for im plem entation.5 W ith the new testing and im ple
m entation procedures, BEA expects to incorporate im
provem ents to definitions, classifications, and
m ethodologies in future flexible annual revisions.
As noted above, flexible annual revisions will be in
troduced in 2010. The annual revisions over the next
12 m onths will continue to result in revisions for the 3
m ost recent years (2005-2007): the annual revision of
the NIPAs will be released in July 2008, the revision o f
the annual industry accounts will be released in D e
cem ber 2008, and the revision o f the gross dom estic
product by state will be released in June 2009. C o m
prehensive revisions to these accounts will follow in
2009 and 2010. Flexible annual revisions are scheduled
to begin w ith the NIPA release in July 2010.
For flexible annual revisions, BEA will announce the
im provem ents to be m ade and the periods subject to
revision in advance o f their release. This policy will
provide tim e for BEA’s custom ers to prepare for the
changes and determ ine how to incorporate th em into
their uses of the data. BEA will continue to investigate
issues related to the im pact on chained-dollar esti
m ates and various price and quantity indexes o f refer
ence year changes and how best to incorporate changes
that affect long historical tim e series.
4. The new classification of PCE was described in Clinton P. McCully and
Teresita D. Teensma, “Preview of the 2009 Comprehensive Revision o f the
National Income and Product Accounts: New Classifications for Personal
Consumption Expenditures,” Survey 88 (May 2008): 6-17. This article pre
sented restated PCE estimates for 2002-2006 using the proposed classifica
3. In practice, the annual industry accounts commodity flow based esti tion.
5. BEA’s strategic plan is updated annually and is available at
mates o f PCE are adjusted to be consistent with the NIPA’s published retail
<www.bea.gov/about/pdf/strategic_plan_matrix_2007-2011.pdf >.
control based category-level estimates of PCE.
33
June 2008
F o r e ig n D ir e c t In v e s t m e n t in t h e U n it e d S t a t e s
N e w I n v e s t m e n t in 2 0 0 7
By Y. Louise Ku-Graf
O
UTLAYS by foreign direct investors to acquire or
to establish U.S. businesses increased sharply in
2007, according to statistics from the Bureau o f Eco
nom ic Analysis. Outlays reached $276.8 billion in
2007, the second largest on record and the highest
since 2000, w hen new investm ent outlays peaked at
$335.6 billion (table 1 and chart 1).
Spending by foreign investors increased 67 percent
in 2007, following an increase o f 81 percent in 2006.
The increases in b oth years were significantly larger
th an the overall increases in U.S. m erger and acquisi
tion activity and broke a pattern o f m ore m oderate an
nual grow th from 2002 to 2005. The strong grow th in
spending in 2006 and 2007 coincided w ith declines in
the value o f the dollar against m any m ajor currencies.
In addition, in b o th years, large transactions— those
th at were $2 billion or m ore— accounted for about 50
percent o f foreign investors’ total outlays (table 2).
A m ong m ajor industries, outlays increased the m ost
in m anufacturing, w hich accounted for nearly half of
total investm ent outlays in 2007 (table 3). Outlays were
also sizable in “other industries” (m ostly in tran sp o rta
tion and warehousing, utilities, and m ining), in fi
nance (except depository institutions) and insurance,
in real estate and rental and leasing, and in depository
institutions (banks).
Outlays by investors from m ost m ajor geographic
areas increased. Outlays from Europe increased sub
stantially. Overall, the outlays from Europe accounted
for m ore th an half o f the worldw ide total (chart 2).
Outlays from Canada, Asia and Pacific, and the M iddle
East also rose considerably.
Chart 1. Outlays for New Investment in the United
States by Foreign Direct Investors, 1980-2007
B illio n s o f d o lla rs
350
300
250
200
150
100
50
0
1980 82
84 86
88
90
92
94
96
98
00
02
04
0607
U.S. Bureau of Economic Analysis
T a b le 1 . I n v e s t m e n t O u t la y s b y T y p e o f I n v e s t m e n t a n d I n v e s t o r , 1 9 9 2 - 2 0 0 7
[M illio n s o f d o lla rs ]
1992
1993
1994
1995
1996
1997
2002
2003
2004
2005
Total outlays............................................................
By type of investment:
15,333
26,229
45,626
57,195
79,929
69,708 215,256 274,956 335,629 147,109
54,519
63,591
86,219
91,390 165,603 276,835
U.S. businesses a c q u ire d .......................................
U.S. businesses e s ta b lis h e d .................................
10,616
4,718
21,761
4,468
38,753
6,873
47,179
10,016
68,733
11,196
60,733
8,974
182,357
32,899
265,127
9,829
322,703
12,926
138,091
9,017
43,442
11,077
50,212
13,379
72,738
13,481
73,997
17,393
148,604
16,999
254,972
21,863
4,058
11,275
6,720
19,509
13,628
31,999
11,927
45,268
32,230
47,699
13,899
55,809
120,828
94,428
120,878
154,078
105,151
230,478
23,134
123,975
13,650
40,869
27,866
35,725
34,184
52,035
40,304
51,086
4 4,129
121,474
102,339
174,496
2002
2003
2004
2005
2006'
2007 p
1998
1999
2000
2001
2006’
2007 p
By type of investor:
Foreign d ire ct in v e s to rs ..........................................
U.S. a ffilia te s .............................................................
p Preliminary
r Revised
T a b le 2 . D is t r ib u t io n o f I n v e s t m e n t O u t la y s b y S iz e , 1 9 9 2 - 2 0 0 7
[P e rce n t]
1992
Total outlays............................................................
100
$5 billion or more.............................................
$2 billion — $4,999 billion................................
$100 million — $1.999 billion..........................
Less than $100 million....................................
0
0
42
58
p Preliminary
r Revised
D Suppressed to avoid disclosure of data of individual companies.
1994
1993
1995
1996
1997
1998
1999
2000
2001
100
100
100
100
100
100
100
100
100
0
0
27
51
22
(D)
18
48
0
29
55
16
0
12
55
11
27
7
55
16
24
5
48
20
27
5
30
22
40
9
(D)
51
(D)
(D)
67
21
100
(D)
18
45
(D)
100
(D)
(D)
43
12
100
(D)
13
47
(D)
100
100
100
0
28
59
13
18
30
45
7
22
28
48
2
FDIUS: New Investm ent
34
O utlays in 2007
The 67 percent grow th in outlays for new foreign d i
rect investm ents com pares w ith the 24 percent grow th
in the value o f com pleted m ergers and acquisitions in
the U nited States, as estim ated by T hom pson Reuters.
(The sam e p attern held in 2006, when outlays for new
foreign direct investm ents grew 81 percent and overall
U.S. m ergers and acquisitions grew 44 percent.) In
2007, as in previous years, m ost outlays by foreign di
rect investors were to acquire existing U.S. businesses.
These outlays totaled $255.0 billion, com pared w ith
June 2008
$21.9 billion in outlays to establish new U.S. b usi
nesses.
Outlays m ade by, or through, existing U.S. affiliates
were $174.5 billion, com pared w ith $102.3 billion in
outlays m ade directly by foreign investors. O f the
$174.5 billion that was spent by U.S. affiliates, $119.1
billion came from their foreign parent groups. Thus,
foreign parent groups through a com bination o f direct
outlays and funds they supplied to existing U.S. affili
ates funded a total o f $221.5 billion, or 80 percent, of
the $276.8 billion in total outlays. These foreign parent
Chart 2. Outlays for New Investment in the United States by Foreign Direct Investors by Industry
and by Country, 2007
F in a n c e a n d in s u ra n c e
By country
By industry
C a nada 15%
In fo rm a tio n
O th e r 7 %
R e ta il a n d
w h o le s a le tra d e
5%
D e p o s ito ry
in s titu tio n s 6 %
E u ro p e 5 3 %
M id d le E a st
R e a l e s ta te a n d re n ta l
a n d le a s in g 7 %
P ro fe s s io n a l, s c ie n tific ,
A s ia a n d P a c ific 13%
a n d te c h n ic a l s e rv ic e s 4 %
L a tin A m e ric a a n d
M a n u fa c tu rin g
O th e r W e s te rn H e m is p h e re
49%
2%
U.S. Bureau of Economic Analysis
Key Terms
U.S. affiliate. A U.S. business enterprise in which a sin
Outlays. Expenditures by a foreign direct investor to
acquire or establish a new U.S. affiliate. The foreign direct gle foreign investor (a foreign parent) owns at least 10
investor, its affiliated foreign companies (foreign parent
group), and/or its existing U.S. affiliates may supply the
funds for the expenditures (outlays).
Person. Any individual, corporation, branch, partner
ship, associated group, association, estate, trust, or other
organization, and any government (including any corpo
ration, institution, or other entity or instrumentality of a
government).
Foreign person. A person that resides outside the 50
States, the District of Columbia, the Commonwealth of
Puerto Rico, and all U.S. territories and possessions.
Foreign direct investment in the United States. The
ownership or control, directly or indirectly, by one for
eign person of 10 percent or more of the voting securities
of an incorporated U.S. business enterprise or an equiva
lent interest in an unincorporated U.S. business enter
prise.
percent of the voting securities, or the equivalent.
Ultimate beneficial owner (UBO). For a U.S. affiliate,
the person (in the broad legal sense, including a com
pany), proceeding up the affiliate’s ownership chain
beginning with the foreign parent, that is not owned
more than 50 percent by another person. The UBO ulti
mately owns or controls the affiliate and derives the ben
efits associated with ownership or control. Unlike the
foreign parent, the UBO of a U.S. affiliate may be located
in the United States.
Foreign parent group. This group consists of (1) the
foreign parent, (2) any foreign person, proceeding up the
foreign parent’s ownership chain, that owns more than
50 percent of the person below it, up to and including the
UBO, and (3) any foreign person, proceeding down the
ownership chain(s) of each of these members, that is
owned more than 50 percent by the person above it.
June 2008
35
S u r v e y o f C u r r e n t B u s in e s s
funds are included in total foreign direct investm ent in
the U nited States, as recorded in the financial account
of the U.S. international transactions accounts.1
Outlays in m anufacturing rose to $135.2 billion in
2007 from $56.3 billion in 2006 (table 3). W ithin m a n
ufacturing, the largest increases were in chemicals,
tran sp o rtatio n equipm ent, prim ary metals, and m a
chinery. In chemicals, virtually all outlays in 2007 were
to acquire m anufacturers o f pharm aceuticals and m ed
icines; basic chemicals; and resins and synthetic ru b
ber, fibers, and filam ents. In transportation
equipm ent, m ost o f the spending was to acquire m a n
ufacturers o f m o to r vehicle parts and aerospace p ro d
ucts and parts. In p rim ary metals, m ore than half of
the outlays were for acquisitions o f steel products m an
ufacturers. In m achinery, m ost o f outlays were to ac
quire m anufacturers o f engines, turbines, and power
transm ission equipm ent.
Outlays in retail trade, depository institutions, real
estate, and “o ther industries” also increased. In retail
1. Foreign direct investment in the United States as recorded in the inter
national transactions accounts, unlike the data on investment outlays in
this article, includes financing of both existing and new U.S. affiliates and
reflects selioffs and other subtractions from investment as well as additions.
However, it excludes any domestic source funds that may be included in the
measure o f outlays reported in this article. For preliminary estimates o f for
eign direct investment in 2007, see Christopher L. Bach, “U.S. International
Transactions in 2007,” Survey of Current Business 88 (April 2008): 22-73;
revised estimates will be published in the July 2008 Survey.
Table 3. Investment Outlays by Industry
of U.S. Business Enterprise, 2004-2007
trade, m ost o f the outlays were for “other retail trad e”
(particularly health and personal care stores and cloth
ing and clothing accessories stores) and for food and
beverage stores. In “other industries,” m ost o f the o u t
lays were in tran sp o rtatio n and w arehousing, utilities,
and m ining.
Outlays by E uropean investors increased 37 percent
to $146.5 billion in 2007, and accounted for m ore than
half o f total outlays (table 4). Outlays in m an u factu r
ing, “other industries,” banks, and retail trade fueled
m uch o f the growth. The increase in spending by E uro
pean investors was m ore th an accounted for by British
investors, w hich invested m ainly in m anufacturing.
Outlays by investors from Spain also increased sub
stantially (tables 7.1 and 7.2).
Outlays by C anadian investors m ore than tripled,
reflecting stepped-up investm ents in m anufacturing,
finance (except banks) and insurance, and “other in
dustries,” particularly in tran sp o rtatio n and w arehous
ing.
Outlays by investors from the Asia and Pacific re
gion rose substantially in 2007, as outlays by investors
from Australia, Singapore, and Korea increased signifi
cantly. Outlays by investors from Australia in the real
estate and rental and leasing industry m ore th an tri
pled. Outlays from the M iddle East also rose su b stan
tially, reflecting higher spending from Saudi Arabia
and the U nited Arab Emirates. In 2007, m ore th an half
o f the outlays by investors from the M iddle East were
in m anufacturing.
[Millions of dollars]
2004
2005
2006 r
2007 p
All industries..................................................................
86,219
91,390
165,603
276,835
Manufacturing........................................................................
18,251
34,036
56,330
135,194
F o o d ...............................................
Beverages and to bacco p ro d u c ts .........................................
Textiles, apparel, and leather p ro d u c ts ................................
P a p e r..............................................
Printing and related supp o rt a c tiv itie s .................................
Petroleum and coal products....
C h e m ic a ls .....................................
P lastics and rubber products
N onm etallic m ineral products....
Prim ary m e ta ls ............................
F abricated m etal p ro d u c ts ......................................................
M a c h in e ry ...................................................................................
C om puters and e lectronic p ro d u c ts .....................................
E lectrical eq u ipm ent, appliances, and com ponents
T ransportation e q u ip m e n t........................................................
O th e r ............................................................................................
2,146
1,646
(D)
(D)
120
(D)
(D)
(D)
(D)
225
9,598
1,636
388
4,877
111
382
3,596
747
5,942
1,857
4,668
(D)
2,479
190
3,316
0
Wholesale trade......................................................................
Retail trade...............................................................................
(D)
3,073
Information..............................................................................
Publishing in d u s trie s ................................................................
M otion p icture and sound recording in d u s trie s .................
T ele co m m un ica tio n s.................................................................
O th e r............................................................................................
(D)
(D)
4,751
84
153
(D)
(D)
(D)
0
12,335
86
1,439
4,598
884
1,827
(D)
57,764
4,287
4 ,663
(D)
1,660
1,267
6,562
(D)
12,812
4,289
9,603
8,795
7,900
10,064
9,694
3,489
8,273
6,046
1,262
1,295
8,359
4,315
8,487
10,341
9,694
1,274
2 ,555
5,068
(D)
(D)
2,783
(D)
(D)
2,085
(0 )
4,308
3,911
0
3,562
2,220
Depository institutions.........................................................
(D)
7,973
7,547
Finance (except depository institutions) and insurance
26,234
5,529
33,776
Real estate and rental and leasing....................................
6,335
8,756
12,441
20,631
Professional, scientific, and technical services.............
(D)
10,121
6,407
8,923
9,984
15,453
26,677
47,422
Other industries.....................................................................
(D)
(D)
642
2,934
(D)
1,199
969
p Preliminary
r Revised
D Suppressed to avoid disclosure of data of individual companies.
(D)
Table 4. Investment Outlays by Country
of Ultimate Beneficial Owner, 2004-2007
[Millions of dollars]
2004
2005
2006 r
All countries...................................................................
86,219
91,390
165,603 276 835
Canada.....................................................................................
31,502
13,640
12,121
41 072
Europe
43,815
56,416
106,732
146 471
F ra n ce ..........................................................................................
G e rm a n y .....................................................................................
N e th e rla n d s ...............................................................................
S w itz e rla n d ................................................................................
U nited K in g d o m ........................................................................
O ther E u ro p e .............................................................................
6,415
4,788
461
6,505
23,288
2,358
5,608
7,239
2,609
2,332
30,420
8,206
18,140
20,514
4,769
12,401
26,261
24,648
Latin America and Other Western Hemisphere.............
2,629
5,042
(D)
6 692
S outh and Central A m e ric a ...................................................
O ther W estern H e m is p h e re ...................................................
1,382
1,247
980
4,062
2 ,273
5 624
1 067
(D)
2007 »
17
13
8
3
67
35
090
999
886
531
524
440
Africa.........................................................................................
(D)
(D)
(D)
97
Middle East..............................................................................
1,318
5,068
11,755
27 408
Asia and Pacific.....................................................................
6,015
10,924
15,759
36 933
15,255
A u s tra lia ......................................................................................
J a p a n ...........................................................................................
O ther A sia and P a c ific ............................................................
3,850
1,027
1,139
4,713
4,245
1,966
5 ,650
8,350
1,758
15 222
8 541
13 170
24,251
United States 1.......................................................................
(D)
(D)
(D)
18 163
p Preliminary
r Revised
D Suppressed to avoid disclosure of data of individual companies.
1.
The United States is the country of ultimate beneficial owner for businesses newly acquired or established
by foreign investors that are ultimately owned by persons located in the United States (see the box “Key
Terms”).
N ote . For investments in which more than one investor participated, each investor and each investor’s
outlays are classified by the country of each individual ultimate beneficial owner.
FDIUS: New Investm ent
36
Operations of acquired or established U.S.
businesses
In 2007, U.S. businesses that were newly acquired or
established by foreign direct investors em ployed
487,600 people, com pared w ith 223,400 people in 2006
(table 5). M anufacturing and retail trade— w ith
147,500 and 143,600 employees, respectively— ac
counted for the largest shares o f em ploym ent. C om
bined, these two industries accounted for 60 percent o f
total em ploym ent by U.S. businesses that were newly
acquired or established by foreign direct investors.
Professional, scientific, and technical services ac
counted for 29,500 employees.
In 2007, the total assets o f newly acquired or estab
lished businesses were $455.9 billion, up from $375.8
billion in 2006. M anufacturing accounted for $169.7
billion; finance (except banks) and insurance, for $81.0
billion; and banks, for $68.0 billion. Together, these
three industries accounted for 70 percent o f total as
sets.2
Land ow nership for newly acquired or established
businesses decreased to 364,000 hectares in 2007 from
m ore th an 1 m illion hectares in 2006. Net incom e o f
newly acquired or established U.S. affiliates was $7.7
billion in 2007, up from $2.9 billion in 2006. Total sales
were $179.1 billion, up from $80.2 billion.
R evisions
The estim ates of new foreign direct investm ent for
2007 are prelim inary. The estim ate o f total outlays for
2006 has been revised up 3 percent from the prelim i
nary estim ate.3 In addition, the estim ates o f operating
data o f U.S. businesses acquired or established by for
eign direct investors have been revised. The estim ate of
2. Because assets can be financed not only by funds from foreign direct
investors but also by funds from other owners and lenders, assets o f the
newly established or acquired U.S. affiliates generally will exceed the related
investment outlays.
3. See Lawrence R. McNeil, “Foreign Direct Investment in the United
States: New Investment in 2006,” Survey 87 (June 2007): 44-51.
June 2008
em ploym ent has been revised up 4 percent from the
prelim inary estimate; the estim ate o f total assets has
been revised up 5 percent; the estim ate o f sales has
been revised up 1 percent; and the estim ate o f net in
com e has been revised dow n 7 percent.
Technical Note
Estimates of new foreign direct investm ent, which
cover U.S. business enterprises that were acquired or
established by foreign direct investors during the year,
are based on data reported in surveys conducted by the
Bureau o f Econom ic Analysis (BEA). For the prelim i
nary estim ates for 2007, BEA also relied on estim ates
for reports not yet received. Each year, BEA receives
survey reports after the prelim inary estim ates are p u b
lished. To make the prelim inary estim ates as accurate
as possible, BEA augm ents the reported data w ith esti
m ates for late reports.
Availability of New Investment Data
Summary estimates of the outlays by foreign direct
investors to acquire or to establish businesses in the
United States are presented in this article. More
detailed estimates by industry and by country for
1980-2007 are available on BEA’s Web site at
<www.bea.gov>.
Discontinuation of New Investment Series
In order to align its programs with available funding,
B E A is eliminating the survey of new foreign direct
investment in the United States. The last report in this
series, which will present data on new investment by
foreign direct investors in 2008, will appear in the lune
2009 S u r v e y o f C u r r e n t B u s in e s s . B E A will continue to
collect extensive data on foreign direct investment in
the United States, but it will no longer be able to sepa
rately identify the portion accounted for by invest
ments in newly acquired or established U.S. affiliates.
Table 5. Selected Operating Data of U.S. Business Enterprises Acquired or Established, by Industry of U.S. Business Enterprise, 2006-2007
2006'
M illions o f dollars
Total assets
Sales
N et incom e
2007 »
Thousands
of em ployees
H ectares
of land 1
M illions of dollars
Total assets
Sales
N et incom e
Thousands
o f em ployees
H ectares
o f land 1
A ll i n d u s t r ie s ..............................................................................
375,772
80,157
2,912
223.4
(D)
455,865
179,107
7,694
4 87.6
3 64,025
M a nu fa cturin g....................................................................................
W h olesa le tr a d e ...............................................................................
R etail tra d e .........................................................................................
In fo rm a tio n .........................................................................................
D epository in s titu tio n s .....................................................................
F inance (except deposito ry institutions) and in s u ra n c e ........
Real estate and rental and le a s in g ..............................................
P rofessional, scientific, and te chnical s e rv ic e s ........................
O the r in d u s trie s .................................................................................
89,246
7,395
1,589
16,290
93,501
103,764
17,406
8,067
38,512
30,828
9,267
2,264
4,841
3,575
9,398
2,648
1,978
15,357
1,283
413
164
-5
872
-8 5 5
8
200
831
85.2
15.8
6.8
15.3
15.0
11.9
1.5
10.5
61.3
10,535
169,684
7,496
16,537
10,311
67,960
81,045
30,781
11,404
60,648
94,792
7,103
30,099
4,949
3,192
7,928
2,758
4,763
23,524
4,618
170
61
46
588
1,011
387
147.5
14.4
143.6
10.0
14.4
16.0
2.2
-9 3
908
29.5
110.0
3 18,596
171
714
120
299
15
12,758
32
31,320
p Preliminary
r Revised
D Suppressed to avoid disclosure of data of individual companies.
(D)
(D)
(D)
270
(D)
7,595
(D)
(D)
1. One hectare equals 2.471 acres. Thus, for all industries, acres of land owned in 2007 was 899,506.
N o te . For newly acquired businesses, the data cover the most recent financial reporting year preceding
acquisition. For newly established businesses, the data are projections for the first full year of operations.
June 2008
S u r v e y o f C u r r e n t B u s in e s s
For the survey, a U.S. business enterprise is catego
rized as “established” if the foreign parent or its exist
ing U.S. affiliate creates a new legal entity that is
organized and operated as a new U.S. business enter
prise or that directly purchases U.S. real estate.4 A U.S.
business enterprise is categorized as “acquired” if (1) a
foreign p arent or its U.S. affiliate obtains a voting in
terest o f 10 percent or m ore in the equity o f an existing
U.S. business enterprise and continues to operate the
enterprise as a separate legal entity; (2) a foreign p ar
ent or its U.S. affiliate purchases a business segm ent or
an operating un it o f an existing U.S. business and o r
ganizes it as a new separate legal entity; or (3) an exist
ing U.S. affiliate purchases a U.S. business, a segm ent
o f a U.S. business, or an operating unit o f a U.S. busi
ness and merges it into its ow n operations.
The estim ates o f new foreign direct investm ent do
not cover the acquisition o f additional equity in an ex
isting U.S. affiliate, the acquisition o f an existing U.S.
affiliate by one foreign investor from another, or the
expansion in the operations o f an existing U.S. affiliate
when no separate legal entity is created. Selloffs or
other disinvestm ents are n o t netted against the new in
vestm ents. (For m ore inform ation, see the box “Data
4. The number of new U.S. businesses established is not the same as the
number o f “greenfield” investments, which typically refers to the construc
tion o f new plants or other business facilities. First, direct purchases o f U.S.
real estate— which often involve purchases of existing office buildings,
hotels, retail stores, shopping centers, or other property— are included in
the “established” measure but are not considered “greenfield” investments.
Second, new plants that are built by existing U.S. affiliates are considered
“greenfield” investments, but they are included in these data as “estab
lished” businesses only if they are set up as separate legal entities.
on Foreign Direct Investm ent in the U nited States”)
A U.S. business that is acquired or established by a
foreign direct investor or by an existing U.S. affiliate of
a foreign investor and that has total assets o f m ore than
$3 m illion or owns 200 acres or m ore of U.S. land is re
quired to file a full report w ith BEA. In addition, a U.S.
business enterprise that is acquired by an existing U.S.
affiliate o f a foreign investor and m erged into the o p er
ations o f the affiliate m ust file a full report if the total
cost o f the acquisition exceeds $3 m illion or if the ac
quired enterprise ow ned 200 acres or m ore o f U.S.
land. To reduce the reporting burden, sm aller U.S.
businesses that have total assets o f $3 m illion or less
and that own fewer than 200 acres o f U.S. land are p er
m itted to file shorter, partial reports.5
BEA prepares estim ates to account for data not col
lected on the partial reports and com bines these esti
mates w ith the data it collects on the full reports.
Because the businesses that file partial reports are so
small, they generally have a negligible im pact on the
published aggregates. For example, in 2006, the total
assets of U.S. businesses that filed partial reports were
$166.4 m illion, less than 0.1 percent o f the total assets
o f all newly acquired or established U.S. affiliates.
A lthough the values for the partial reports are gen
erally negligible, the num ber o f partial reports is sig
nificant. For example, in 2006, BEA received 1,165
partial reports and 725 full reports. F urtherm ore,
the num ber of businesses that are subject to partial
5. Survey forms for both the full report (BE-13) and the partial report
(BE-13, Supplement C) are available on BEA’s Web site at <www.bea.gov>.
Data on Foreign Direct investment in the United States
In addition to the data on new foreign direct investment
presented in this article, BEA collects and publishes two
other broad sets of data on foreign direct investment in
the United States: Financial and operating data of U.S.
affiliates and balance-of-payments and direct-investment-position data.
Financial and operating data of U.S. affiliates are pub
lished at both the enterprise level and the establishment
level. Detailed enterprise-level financial and operating
data were most recently published in “U.S. Affiliates of
Foreign Companies: Operations in 2005” in the August
2007 S u r v e y o f C u r r e n t B u s in e s s ; the article includes a
description of the three types of data. Summary estimates
for 2006 were presented in the April 17, 2008, news
release “Summary Estimates for Multinational Compa
nies: Employment, Sales, and Capital Expenditures for
2006,” which is available on BEA’s Web site
<www.bea.gov>. Financial and operating data at the
37
establishment level are available for selected years as a
result of a project that links BEA’s enterprise data for U.S.
affiliates with the Census Bureau’s establishment data for
all U.S. companies. The most recent data are published in
Foreign Direct Investment in the United States: Estab
lishment D ata for 2002, which is available on BEA’s Web
site.
The balance-of-payments and direct-investment-position data were published in “The International Invest
ment Position of the United States at Yearend 2006” and
“Direct Investment Positions for 2006: Country and
Industry Detail” in the July 2007 S u r v e y , in “Foreign
Direct Investment in the United States: Detail for Historical-Cost Position and Related Capital and Income Flows
for 2004-2006” in the September 2007 S u r v e y , and in
“U.S. International Transactions in 2007” in the April
2008 S u r v e y . Revised and updated data will be published
in the July and September 2008 issues.
38
FDIUS: New Investment
reporting m ay be higher than the actual num ber o f
partial reports that BEA receives because not all o f the
sm aller U.S. businesses acquired or established by for
eigners file reports. BEA makes every effort to contact
all U.S. businesses that may have been newly acquired
or established by foreigners, b u t it m ust concentrate its
resources on ensuring com pliance w ith reporting re
quirem ents by larger businesses.
O f the 725 full reports filed for 2006, 526 reported
investm ents to acquire an existing U.S. business, and
199 reported investm ents to establish a new U.S. busi
ness. For 2007, BEA estim ates that 802 businesses will
have filed full reports by the tim e the revised estim ates
June 2008
are published in 2009.6 The num ber o f full reports by
size o f outlay is shown in the table below.
2005
2006r
2007 p
T o t a l....................................................................................................
655
725
$ 5 b illio n o r m o r e ...............................................................
0
3
6
$ 2 b illio n —$ 4 ,9 9 9 b i llio n .................................................
8
16
26
802
$ 1 0 0 m illio n —$ 1 .9 9 9 b i llio n ...........................................
131
179
190
L e s s th a n $ 1 0 0 m illio n ....................................................
516
527
580
p P relim inary
r Revised
For 2007, the n um ber o f investm ents in the two
largest classes represents the num ber of reports that
were received. The num ber o f investm ents in the two
smallest class sizes includes an estimate o f the num ber
o f late reports that will be received before the revised
estimates are published.
Acknowledgments
The data presented in this article are from BEA’s sur
vey of new foreign direct investment in the United
States. The survey was conducted under the supervi
sion of Dorrett E. Williams, with contributions by
Carmene T. Brown, Constance T. Deve, Edward J.
Kozerka, Y. Louise Ku-Graf, and Daniel K. Wakjira.
Neeta B. Kapoor programmed the tables.
6. As noted earlier, the preliminary estimates include BEA estimates of
late reports. Estimates of each data item covered by the survey are prepared,
and they cover both full and partial reports. BEA also estimates the number
o f full reports, but it does not estimate the number of partial reports,
because this number fluctuates considerably from year to year.
Tables 6, 7.1, and 7.2 follow.
Table 6. Investment Outlays by Type of Investment and Investor, by Industry of U.S. Business Enterprise, 2006-2007
[M illio n s o f d o lla rs ]
2006 '
2007 p
By type o f investm ent
Total
By type of investor
U.S. businesses U.S. businesses
acquired
established
Foreign direct
investors
By type of investm ent
Total
U.S. affiliates
U.S.
businesses
acquired
By type of investor
U.S.
businesses
established
Foreign direct
investors
U.S. affiliates
A ll in d u s tr ie s ...........................................................................
165,603
148,604
16,999
44,129
121,474
276,835
254,972
21,863
102,339
174,496
M a n u fa c tu rin g ......................................................................................
56,330
55,497
833
8,571
47,759
1 35,194
130,590
4,604
56,703
78,491
F o o d .....................................................................................................
Beverages and tobacco p ro d u c ts .................................................
Textiles, apparel, and leather p ro d u c ts .......................................
P a p e r...................................................................................................
Printing and related support a c tiv itie s ........................................
Petroleum and coal p ro d u c ts .........................................................
C h e m ic a ls ...........................................................................................
Plastics and ru bb er p ro d u c ts .........................................................
N o nm etallic m ineral p ro d u c ts ........................................................
P rim a ry a nd fabricated m e ta ls .......................................................
M a c h in e ry ...........................................................................................
C om pu te rs and ele ctron ic p ro d u c ts.............................................
E lectrical equipm ent, appliances, and c o m p o n e n ts ...............
T ransportation e q u ip m e n t...............................................................
O t h e r ...................................................................................................
1,857
4,668
(D)
(D)
(D)
(D)
(D)
0
(D)
(D)
(D)
(D)
0
0
936
920
(D)
(D)
0
0
0
(D)
(D)
(D)
(D)
0
(D)
2,479
190
3,316
0
(D)
(D)
190
3,316
0
(D)
2,451
(D)
28
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
57,764
4,287
(D)
57,764
4.287
746
(D)
(D)
0
0
35,062
0
(D)
(D)
0
453
1 ,3 7 4
9 .6 0 3
(D)
(D)
(D)
1,660
1,267
6,562
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
0
0
0
0
0
0
(D)
949
(D)
711
8 ,7 9 5
8 .7 9 5
0
(D)
(D)
(D)
(D)
(D)
(D)
(D)
7,900
10,064
9,694
(D)
9,840
(D)
225
236
261
(D)
(D)
210
7,664
9,803
9,484
Wholesale trade.............................................................................
8,273
8,191
82
5,960
2,312
6,046
(D)
(D)
230
5,817
Retail trade......................................................................................
1,295
(D)
(D)
(D)
(D)
8,359
(D)
(D)
4,412
3,946
Information......................................................................................
10,341
5.068
10,268
74
(D)
(D)
4,308
(D)
(D)
3,911
0
0
0
(D)
(D)
4 ,003
2,340
0
1,287
(D)
(D)
20
(D)
(D)
(D)
811
9,694
3,911
0
3,562
(D)
(D)
(D)
(D)
3,920
324
6,421
(D)
(D)
(D)
2,220
2,220
0
376
5,690
1,571
0
2,275
1,844
7,547
(D )
(D)
(D)
(D)
15,255
15,255
0
12,593
2,661
F in a n c e ( e x c e p t d e p o s i t o r y i n s t i t u t i o n s ) a n d i n s u r a n c e
33,776
27,651
6,124
7,524
26,252
24,251
19,831
4,420
11,193
13,057
Real estate and rental and leasing............................................
12,441
6,803
5,638
3,190
9,250
20,631
9,786
10,844
182
20,449
Professional, scientific, and technical services....................
8,923
26,677
(D)
(D)
9,984
47,422
(D)
1,153
2,521
22,725
(D )
25,524
6,402
3,952
47,305
117
1,082
11,940
8,903
35,482
P ublishing in d u s trie s........................................................................
Motion pictures and sound recording in d u s trie s .......................
T eleco m m u n ica tio n s........................................................................
O th e r ....................................................................................................
D e p o s i t o r y i n s t i t u t i o n s ..............................................................................
O th e r in d u s tr ie s ...................................................................................
p Preliminary
r Revised
D Suppressed to avoid disclosure of data of individual companies.
(D)
(D)
(D)
0
12,335
86
1,439
5,482
1,827
9
4.744
(D)
17,101
(D)
(D)
(D)
(D)
8.864
(D)
22,703
4,287
746
8.237
3 ,4 3 9
6 ,1 6 3
5 ,2 1 1
3 ,5 8 4
June 2008
39
S u r v e y o f C u r r e n t B u s in e s s
T a b le 7 .1 . I n v e s t m e n t O u t la y s , C o u n t r y o f U lt im a t e B e n e f ic ia l O w n e r b y I n d u s t r y o f U .S . B u s i n e s s E n t e r p r is e , 2 0 0 6
[Millions of dollars]
All industries
M anufacturing
W holesale
trade
Retail trade
Inform ation
D epository
institutions
Finance
(except
depository
institutions)
and insurance
Real estate
and rental
and leasing
Professional,
scientific,
and technical
services
O ther
industries
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
0)
(10)
All countries...........................................................................................
165,603
56,330
8,273
1,295
10,341
7,547
33,776
12,441
8,923
C anada..................................................................................................................
12,121
3,139
36
(D)
239
(D)
3,861
361
84
26,677
1,973
Europe...................................................................................................................
106,732
38,640
7,470
644
6,182
4,900
20,092
6,145
5,208
17,452
671
(D)
(D)
193
(D)
(D)
0
0
582
0
0
0
0
0
(D)
0
0
(D)
8,312
1,155
(D)
(D)
0
0
0
0
0
0
(D)
145
(D)
0
0
(D)
(D)
(D)
0
0
(D)
(D)
(D)
0
0
(D)
0
87
(D)
(D)
(D)
(D)
(D)
65
0
0
(D)
(D)
(D)
(D)
(D)
604
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
4 ,816
O f w h ich :
B e lg iu m .................................................................................................................
D enm ark..
F in la n d .....
F ra n c e .....
G e r m a n y ...............................................................................................................
Ir e la n d .....
Ita ly ...........
L u x e m b o u rg .........................................................................................................
N e th e rla n d s ..........................................................................................................
N o rw a y ....
S p a in .......
S w e d e n .................................................................................................................
S w itz e rla n d ...........................................................................................................
U nited K in g d o m ...................................................................................................
Latin America and Other Western Hemisphere...........................................
S outh a nd C e n tral A m e ric a ..................................................................................
(D)
632
18,140
20,514
4,551
(D)
(D)
4,769
(D)
9,727
1,246
12,401
26,261
(D)
(D)
0
(D)
1,511
0
(D)
0
(D)
788
751
6,656
(D)
(D)
(D)
1,556
0
0
(D)
(D)
(D)
(D)
0
0
0
0
0
0
0
(D)
(D)
1,015
(D)
(D)
0
(D)
(D)
(D)
(D)
162
(D)
0
(D)
0
0
(D)
0
38
(D)
(D)
1,159
(D)
0
0
0
(D)
(D)
(D)
(D)
161
60
(D)
(D)
(D)
(D)
(D)
21
(D)
(0 )
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
7,693
(D)
2,273
3,493
1,319
(D)
(D)
(D)
(D)
(D)
1,160
(D)
713
2,174
(D)
(D)
(D)
0
0
0
(D)
0
(D)
(D)
(D)
0
0
60
101
(D)
(D)
(D)
(D)
0
0
0
0
(D)
0
0
0
0
(D)
0
0
0
(D)
(D)
(D)
(D)
(D)
O f w h ich :
B ra z il......................................................................................................................
M e x ic o ....................................................................................................................
O ther W estern H em isp h e re ..................................................................................
(D)
O f w h ich :
B e rm u d a ................................................................................................................
N etherlands A n tille s ...........................................................................................
U nited Kingdom Islands, C a rib b e a n ..............................................................
4,364
(D)
(D)
(D)
(D)
A frica.....................................................................................................................
(D)
0
0
0
0
0
0
(D )
(D)
0
Middle E as t..........................................................................................................
11,755
(D)
(D)
(D)
(D)
0
(D)
1,392
(D)
1,683
Isra e l.......................................................................................................................
U nited A rab E m ira te s ........................................................................................
(D)
2,215
(D)
0
0
(D)
0
0
(D)
0
0
0
(D)
0
0
972
(D)
0
(D)
Asia and Pacific..................................................................................................
148
(D)
1,090
3,648
(D )
3,861
0
0
(D)
0
0
(D)
0
0
0
(D)
3 ,250
0
0
0
331
(D)
(D)
(D)
(D)
(D)
1,874
0
0
(D)
(D)
(D)
0
0
143
O f w h ich :
18
15,759
3,010
235
(D)
A u s tra lia ................................................................................................................
C h in a .......
H ong Kong ...........................................................................................................
In dia ........................................................................................................................
J a p a n .......
5,650
351
(D)
(D)
(D)
8,350
(D)
(D)
(D)
1,040
(D)
(D)
(D)
(D)
150
0
0
U n ite d S t a t e s ' .............................................................................................................
(D)
(D)
0
0
(D)
0
(D)
(D)
(D)
(D)
93,212
2,711
37,590
7 ,416
4,900
0
9,910
(D)
644
0
5,600
(D)
6,093
1,392
5 ,040
0
16,020
1,303
O f w h ich :
(D)
0
(D)
1,981
Addenda:
E uropean Union ( 2 5 ) 2 ...........................................................................................
O P E C 3 .......................................................................................................................
D Suppressed to avoid disclosure of data of individual companies.
1. The United States is shown as the country of ultimate beneficial owner for businesses newly acquired or established
by foreign investors that are, in turn, ultimately owned by persons located in the United States (see the box “Key Terms”).
2. The European Union (25) comprises Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France,
Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal,
Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
3. OPEC is the Organization of Petroleum Exporting Countries. In 2006, its members were Algeria, Indonesia, Iran,
(D)
(D)
Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
N otes . Data for 2 0 0 6 are revised. For investments in which more than one investor participated, each investor and each
investor's outlays are classified by the country of each individual ultimate beneficial owner.
This table presents the major regions, the European Union, OPEC, and the following countries: Australia, Canada,
China, France, Germany, Hong Kong, Japan, the Netherlands, Switzerland, the United Kingdom, and the United States. In
addition, it presents any country whose total outlays for 2006 were greater than $500 million.
40
FDIUS: New Investm ent
June 2008
Table 7.2. Investment Outlays, Country of Ultimate Beneficial Owner by Industry of U.S. Business Enterprise, 2007
[Millions of dollars]
All
industries
Manufacturing
Wholesale
trade
Retail
trade
Information
Depository
institutions
(3)
(4)
(5)
(6)
Finance
(except
Real estate
depository
and rental
institutions) and leasing
and insurance
(7)
(8)
Professional,
scientific,
and technical
services
Other
industries
(9)
(10)
(1)
(2)
All countries............................................................................................
276,835
135,194
6,046
8,359
9,694
15,255
24,251
20,631
9,984
Canada...................................................................................................................
41,072
18,048
(D)
(D)
1,366
1,365
8,292
(D)
1,413
6,292
Europe...................................................................................................................
146,471
64,260
3,391
3,788
6,050
13,790
11,021
3,010
7,924
33,237
8 ,095
648
(D)
402
0
266
1,016
677
0
0
(D)
4,025
0
0
452
2,055
5,346
3,297
U nited K in g d o m ...................................................................................................
17,090
13,999
8,922
1,686
8 ,886
15,961
3,919
3,531
67,524
Latin America and Other Western Hemisphere...........................................
6,692
(D)
0
South and Central America.................................................................
5,624
5,568
0
5,563
1,067
(D)
(D)
0
47,422
O f w h ich :
F ra n c e ....................................................................................................................
G e rm a n y .................................................................................................................
Ita ly ..........................................................................................................................
L uxe m b o urg ...........................................................................................................
N e th e rla n d s ..........................................................................................................
Spain
Sweden.........................................................................................
Switzerland....................................................................................
(D)
(D)
2,025
0
3,548
1,797
41,845
0
0
0
0
1,466
0
(D)
12,512
(D)
(D)
2,593
0
0
0
0
0
0
0
0
1,930
(D)
(D)
560
(D)
(D)
(D)
(D)
0
0
0
0
105
0
0
0
(D)
0
0
105
0
6,236
(D)
(D)
3,374
0
1,918
381
(D)
(D)
383
4,635
(D)
0
0
2,114
(D)
364
2 ,234
(D)
13,709
0
(D)
(D)
258
159
123
0
(D)
(D)
(D)
0
(D)
0
0
0
0
0
0
0
471
(D)
159
(D)
(D)
0
O f w h ich :
B r a z il..................................................................................................................
O the r W estern H e m is p h e re ...................................................................................
O f w h ich :
United K ingdom Islands, C a rib b e a n ..........................................................
834
(D)
0
0
0
0
412
(D)
159
(D)
A frica.....................................................................................................................
97
0
0
0
0
0
0
Middle East...........................................................................................................
27,408
(D)
16,634
(D)
(D)
0
0
(D)
5,493
(D)
0
(D)
0
O f w h ich :
Saudi Arabia..................................................................................
15,079
0
0
0
0
(D)
(D)
(D)
0
U nited A rab E m ira te s .........................................................................................
0
(D)
0
0
(D)
(D)
5,239
0
0
(D)
Asia and Pacific...................................................................................................
36,933
15,479
1,768
0
(D)
(D)
2,950
11,645
(D)
2,675
15,222
902
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,056
0
0
(D)
0
0
11,442
(D)
0
342
4,842
(D)
0
(D)
1,116
0
0
0
1,166
0
203
0
New Zealand.................................................................................
Singapore......................................................................................
(D)
0
1,921
8,541
3,039
1,241
6,271
(D)
451
0
0
United States 1.....................................................................................................
0
O f w h ich :
Australia.........................................................................................
China............................................................................................
H ong K o n g .............................................................................................................
In d ia .........................................................................................................................
J a p a n .......................................................................................................................
Korea, R epublic o f ...............................................................................................
0
(D)
1,241
(D)
0
0
0
(D)
(D)
0
0
0
0
0
0
(D)
0
0
0
425
193
0
0
0
18,163
15,023
0
0
(D)
0
0
(D)
0
(D)
142,624
26,208
62,187
15,670
2,831
3,788
13,790
0
3,010
5,258
7,550
0
32,794
(D)
6,038
0
10,637
(D)
(D)
1,686
0
0
0
0
0
Addenda:
European Union ( 2 7 ) 2 ...........................................................................................
O P E C 3........................................................................................................................
D Suppressed to avoid disclosure of data of individual companies.
1. The United States is shown as the country of ultimate beneficial owner for businesses newly acquired or established
by foreign investors that are, in turn, ultimately owned by persons located in the United States (see the box “Key Terms”).
2. The European Union (27) comprises Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France,
Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal,
Slovakia, Slovenia, Spain, Sweden, the United Kingdom and the two countries— Bulgaria and Romania— that joined in
2007.
3. OPEC is the Organization of Petroleum Exporting Countries. In 2007, its members were Angola (which joined at the
(D)
(D)
beginning of the year), Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates,
and Venezuela. Ecuador rejoined OPEC in November 2007, but is not included as a member in this annual tabulation.
N o tes . Data for 2007 are preliminary. For investments in which m ore than one investor participated, each investor and
each investor’s outlays are classified by the country of each individual ultimate beneficial owner.
This table presents the major regions, the European Union, OPEC, and the following countries: Australia, Canada,
China, France, Germany, Hong Kong, Japan, the Netherlands, Switzerland, the United Kingdom, and the United States. In
addition, it presents any country whose total outlays for 2007 were greater than $500 million.
D-1
June 2008
B E A
C u rre n t a n d
H is to r ic a l D a ta
A s e le c tio n o f e s tim a te s fr o m th e n a tio n a l, in d u s tr y , in te r n a tio n a l, a n d r e g io n a l a c c o u n ts o f th e B u r e a u o f E c o n o m ic
A n a l y s i s ( B E A ) a r e p r e s e n t e d in t h i s s e c t i o n . B E A ’s e s t i m a t e s a r e n o t c o p y r i g h t e d a n d m a y b e r e p r i n t e d w i t h o u t B E A ’s
p e r m i s s i o n . C i t i n g t h e S urvey
of
C u r r e n t B u siness a n d B E A a s t h e s o u r c e is a p p r e c i a t e d .
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 m onthly [M] data.
N ational D ata
A. Selected NIPA tables [A,Q]
1. Domestic product and incom e..............................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 item s.........................................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
R egional Data
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............. D-47
D. Charts
Selected NIPA series................................................... D-51
Industry 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
J. Local area table
J.l Personal income and per capita personal income
by metropolitan area [A]...................................D—74
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
K. Charts
Selected regional estimates.........................................D-79
A p p endixes
A. Additional information about the NIPA esti
mates
Statistical conventions................................................ D-81
Reconciliation table [A, Q ] ........................................D-82
B. Suggested reading........................................ D-83
D -2
June 2008
N a t i o n a l D a ta
A. S elected NIPA Tables
The selected set o f NIPA tables presents the m ost recent estim ates o f gross dom estic pro d u ct (GDP) and its
com ponents w hich were released on M ay 29, 2008. These estim ates include the “prelim inary” estim ates for the first
quarter o f 2008. Also included are revised estim ates o f wages and salaries and o f affected incom e-side series for the
fo u rth q uarter o f 2007 and for 2007.
The selected set presents quarterly estim ates that are updated m onthly. A nnual estim ates are presented in m ost
o f the tables.
The GDP news release is available on BEA’s Web site w ithin m inutes after the release. To receive an e-m ail n o ti
fication o f the release, go to <www.bea.gov> and subscribe. The “Selected NIPA Tables” are available later th at day.
1. Domestic Product and Income
T a b le 1 .1 .1 . P e r c e n t C h a n g e F r o m
P r e c e d in g
T a b le 1 .1 .2 . C o n t r i b u t i o n s t o
P e r io d in R e a l
P e r c e n t C h a n g e in R e a l
G r o s s D o m e s tic P r o d u c t
G r o s s D o m e s tic P r o d u c t
[P e rc e n t]
S easonally adjusted at annual rates
Line
2006
2007
2007
I
IV
3.8
4.9
0.6
0.9
3.7
1.4
2.8
2.3
1.0
3
4
5
3.8
3.6
2.7
4.7
2.4
2.8
8.8
3.0
3.1
1.7
- 0 .5
2.3
4.5
2.2
2.8
2.0
1.2
2.8
-6 .2
-0 .3
3.0
6
7
8
9
10
11
12
2.7
-4.9
-8.2
4.6
5.0
-14.6
-6.5
2.4
6.6
8.4
5.9
- 4 .6
-2 .9
4.7
12.9
1.3
- 1 7 .0
-4 .4
2.1
6.4
0.3
-1 6 .3
3.2
11.0
26.2
4.7
- 1 1 .8
-0 .7
9.3
16.4
6.2
-2 0 .5
- 4 .0
6.0
12.4
3.1
-2 5 .2
-7 .8
-0 .2
1.1
-0 .9
-2 5 .5
14
15
16
17
18
19
8.4
9.9
4.8
5.9
6.0
5.2
8.1
7.9
8.5
1.9
1.6
3.5
1.1
0.9
1.6
3.9
4.2
2.3
7.5
6.6
9.6
-2 .7
-2 .9
-1 .7
19.1
26.2
4.0
4.4
4.8
1.7
6.5
3.9
13.2
- 1 .4
- 2 .6
5.5
2.8
1.5
5.8
- 2 .6
- 3 .6
2.8
20
21
22
23
24
1.8
2.0
-0.5
4.1
3.8
2.0
2.0
E x p o rts ..........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts............................................
G o o d s ........................................
S e rv ic e s .....................................
2.2
1.9
2.8
1.6
1.7
2.8
- 0 .4
2.2
- 6 .3
-1 0 .8
3.8
3.0
6.0
8.5
0.9
3.0
7.1
10.1
1.1
1.9
0.5
- 0 .5
2.8
2.8
4.4
5.6
1.8
0.6
Government consumption
expenditures and gross
investment.................................
r-i
Government consumption
expenditures and gross
investment.................................
F e d e ra l...........................................
N ational d e fe n s e .....................
N o n d e fe n s e ..............................
State and lo c a l..............................
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures............................
0.6
2.9
Net exports of goods and
E x p o rts ...........................................
G o o d s........................................
S e r v ic e s ...................................
Im p o rts ...........................................
G o o d s ........................................
S e r v ic e s ....................................
2007
200 7
I
2.2
D urable g o o d s ..............................
N ondurable g o o d s ......................
S e r v ic e s ........................................
2006
I
3.1
1
Fixed in vestm e nt..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
E qu ip m en t and softw are
R e sid e n tia l................................
C h a ng e in private in v e n to rie s ...
III
2.9
Gross domestic product....
Personal consumption
expenditures............................
Gross private domestic
investment.................................
II
S easonally adjusted at annual rates
Line
2008
D urable g o o d s ..............................
Nondurable g o o d s ......................
S e rv ic e s .........................................
Gross private domestic
investment.................................
Fixed in ve stm e n t..........................
N on re sid e n tia l..........................
S tru c tu re s ............................
E quipm ent and softw are
R e s id e n tia l................................
Change in private in v e n to rie s ...
Net exports of goods and
services.....................................
Fed e ra l............................................
National d e fe n s e .....................
N o n d e fe n s e .............................
State and lo c a l..............................
II
1
2.9
2.2
0.6
2
3
4
5
2.15
2.02
0.31
0.74
1.11
0.36
0.48
1.18
0.45
0.39
0.68
0.24
0.44
- 0 .2 9
0.06
6
7
8
9
10
11
12
2008
III
IV
I
3.8
4.9
0.6
0.9
2.56
1.00
2.01
1.58
0.70
0.67
0.61
1.28
0.14
-0 .1 0
0.96
0.35
0.46
1.20
0.15
0.25
1.18
-0 .4 9
-0 .0 7
1.25
-0.82
-1.36
0.71
0.77
-2.40
-0.98
-0 .4 8
0.49
0.40
0.10
-0 .9 8
-0 .3 3
- 0 .7 0
0.22
0.20
0.02
-0 .9 3
-0 .6 5
0.49
1.12
0.78
0.34
-0 .6 2
0.22
-0 .1 1
0.96
0.52
0.44
- 1 .0 8
0.89
- 0 .6 2
0.63
0.41
0.22
-1 .2 5
-1 .7 9
-1 .2 0
-0 .0 3
0.04
- 0 .0 7
- 1 .1 7
0.21
13
14
15
16
17
18
19
-0.08
0.59
-0.51
1.32
1.38
1.02
0.80
0.88
0.73
0.16
-0 .9 6
-0 .8 3
-0 .1 3
0.91
0.62
0.28
-0 .3 2
-0 .2 2
-0 .0 9
0.13
0.07
0.05
-0 .6 3
-0 .5 7
-0 .0 6
0.85
0.53
0.33
0.47
0.42
0.05
2.10
1.96
0.14
-0 .7 2
- 0 .6 7
- 0 .0 5
0.77
0.33
0.45
0.24
0.39
-0 .1 5
0.34
0.13
0.21
0.46
0.54
-0 .0 8
20
21
22
23
24
0.35
0.39
-0.09
0.79
0.74
0.38
0.38
0.15
0.09
0.06
0.19
0.12
0.13
-0 .0 1
0.27
-0 .4 6
-0 .5 4
0.08
0.36
0.41
0.39
0.02
0.37
0.50
0.47
0.03
0.24
0.04
- 0 .0 3
0.06
0.34
0.31
0.27
0.04
0.08
June 2008
D -3
S u r v e y o f C u r r e n t B u s in e s s
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[In d e x num b ers, 2 0 0 0 = 1 0 0 ]
[In d e x num b ers, 2 0 0 0 = 1 0 0 ]
S easonally adjusted
Line
2006
2007
2007
I
Gross domestic product. ..
Personal consumption
expenditures............................
D urable g o o d s ..............................
N ondurable g o o d s ......................
S e r v ic e s ........................................
Gross private domestic
investment.................................
Fixed investm ent..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
E qu ip m en t and softw are
R e side n tial................................
C h an g e in private inve ntories...
S easonally adjusted
Line
2008
II
III
IV
2
3
4
5
119.359 122.828 121.906 122.331 123.190 123.885 124.191
142.263
123.367
121.090
D urable g o o d s ..............................
Nondurable g o o d s .......................
S e rv ic e s .........................................
6
7
8
9
10
11
1?
110.607 105.187 104.690 105.875 107.172 103.011 101.290
Gross private domestic
investment.................................
111.657
106.062
85.770
114.332
127.433
108.369
111.061
96.871
115.842
105.795
141.680
122.563
117.865
108.113
107.277
90.241
113.753
113.301
142.283
122.419
118.527
108.956
110.109
95.639
115.075
109.791
143.852
123.090
119.360
108.756
112.597
99.330
116.821
103.665
144.572
123.466
120.198
107.652
114.261
102.274
117.720
96.422
105.494
114.191
102.559
117.452
89.567
Net exports of goods and
2007
I
115.304 117.825 116.254 117.349 118.763 118.934 119.201
143.096
122.884
118.987
2007
I
1
136.735
120.051
115.696
2006
Gross domestic product....
Personal consumption
expenditures............................
Fixed in ve stm e n t..........................
N on re sid e n tia l..........................
S tru c tu re s ............................
Equipm ent and softw are
R e s id e n tia l................................
C hange in private in v e n to rie s ...
II
2008
III
IV
I
1
116.568 119.668 118.750 119.527 119.837 120.560 121.334
2
114.675 117.591 116.129 117.345 117.873 119.019 120.035
3
88.857
4
5
114.989
120.725
6
7
8
9
10
11
1?
87.276
118.398
124.556
87.799
115.620
123.252
87.488
118.413
124.055
87.091
118.751
124.921
8 6.726
120.810
125.996
86.681
122.752
126.814
115.090 116.458 116.532 116.426 116.325 116.549 116.253
115.352
106.961
150.806
94.485
134.288
116.637
108.293
155.709
94.857
135.450
116.718
108.301
155.637
94.892
135.736
116.636
108.293
155.199
95.002
112.537
111.118
115.917
115.610
114.178
123.039
116.510
115.171
119.687
119.613
118.278
126.462
114.433
113.220
117.305
115.114
116.546
108.481
157.367
94.612
135.459
116.498
108.140
155.392
94.751
135.367
116.696
108.440
156.609
9 4.783
135.238
134.453
115.912
114.624
118.964
118.408
117.064
125.310
116.992
115.533
120.461
120.572
119.256
127.298
118.704
117.306
122.018
124.360
123.243
129.939
121.200
120.209
123.518
128.072
127.247
131.996
Net exports of goods and
1S
14
15
16
17
18
19
E x p o rts ...........................................
G o o d s ........................................
S e r v ic e s ....................................
Im p o r ts ...........................................
G o o d s ........................................
S e rv ic e s ...................................
Government consumption
expenditures and gross
investment.................................
20
21
22
23
24
F e d e ra l...........................................
N ational d efe n s e .....................
N o n d e fe n s e .............................
S tate and lo c a l..............................
118.957
118.234
120.897
130.683
132.446
122.180
134.466
133.244
137.644
132.428
133.234
128.768
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts ............................................
G o o d s ........................................
S e rv ic e s .....................................
115.092 117.427 115.865 117.028 118.121 118.693 119.268
Government consumption
expenditures and gross
investment.................................
128.255
132.722
120.234
108.418
128.603
127.603
131.231
133.181
134.586
126.474
130.454
136.400
119.721
110.816
123.568
122.091
127.335
133.272
134.755
126.172
127.886
132.744
119.140
109.748
125.833
124.072
130.293
132.363
133.770
125.643
129.756
135.488
119.414
110.564
131.458
131.498
131.576
133.780
135.360
126.189
132.000
138.775
119.747
111.096
133.555
132.750
135.720
133.309
134.458
127.892
132.175
138.592
120.583
111.857
133.598
140.500
121.114
112.025
F e d e ra l............................................
N ational d e fe n s e .....................
N o n d e fe n s e ..............................
State and lo c a l..............................
1S
14
15
16
17
18
19
20
21
22
23
24
113.550
123.300
127.334 133.042 130.765 132.527 133.588 135.286 137.575
125.622
127.027
122.959
128.370
129.256
130.681
126.553
135.316
127.886
129.153
125.503
132.499
129.098
130.454
126.539
134.586
129.622
131.069
126.876
135.969
130.416
132.049
127.293
138.209
T a b le 1 .1 .5 . G r o s s D o m e s t ic P r o d u c t
T a b le 1 .1 .6 . R e a l G r o s s D o m e s t ic P r o d u c t , C h a in e d D o lla r s
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjuste d at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
Gross domestic product ...
Personal consumption
expenditures............................
D urable g o o d s .............................
N ondurable g o o d s ......................
S e r v ic e s ........................................
Gross private domestic
investment.................................
Fixed inve stm e n t..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
E qu ip m en t and softw are
R e side ntia l................................
C hange in private in v e n to rie s ...
Net exports of goods and
services.....................................
E x p o rts ..........................................
G o o d s ........................................
S e rv ic e s ....................................
I m p o r ts ..........................................
G o o d s ........................................
S e rv ic e s ....................................
Government consumption
expenditures and gross
investment.................................
F e d e ra l..........................................
N ational d efe n s e .....................
N o n d e fe n s e ..............................
S tate and lo c a l.............................
II
Line
2008
III
IV
9,224.5
9,734.2
9,540.5
9,674.0
9,785.7
9,936.6 10,046.2
3
1,048.9
2,688.0
5,487.6
1,078.2
2,833.2
5,822.8
1,074.0
2,759.4
5,707.1
1,074.7
2,822.7
5,776.5
1,081.6
2,846.3
5,857.8
1,082.5
2,904.5
5 ,949.7
1,064.7
2,948.8
6,032.7
D urable g o o d s .............................
Nondurable g o o d s ......................
S e rv ic e s .........................................
2,209.2
2,125.4
2,117.3
2,139.1
2,162.9
2,082.1
2,041.3
Gross private domestic
investment.................................
2,162.5
1,397.7
405.1
992.6
764.8
46.7
2,122.4
1,481.8
472.1
1,009.7
640.7
2.9
2,118.9
1,431.4
439.6
991.8
687.5
- 1 .6
2,133.9
1,469.1
464.5
1,004.5
664.8
5.1
2,127.5
1,500.1
483.1
1,017.1
627.3
35.4
2,109.5
1,526.5
501.3
1,025.3
582.9
-2 7 .4
2,064.5
1,526.2
505.1
1,021.1
538.4
- 2 3 .3
Fixed in v e stm e n t..........................
N o nresidential..........................
S tru c tu re s ............................
E quipm ent and softw are...
R e sid e n tia l................................
C hange in private in v e n to rie s ...
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2007
13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
2007
I
2
4
5
2006
I
Gross domestic product....
Personal consumption
expenditures............................
1
132.360
133.937
129.354
140.706
-762.0
-708.0
-714.2
-714.2
-694.7
-708.9
-716.6
Net exports of goods and
services.....................................
1,467.6
1,030.5
437.1
2,229.6
1,880.4
349.2
1,643.0
1,152.9
490.1
2 ,351.0
1,979.4
371.6
1,549.9
1,084.0
465.9
2,264.0
1,902.7
361.4
1,598.7
1,115.2
483.5
2,312.9
1,947.2
365.7
1,685.7
1,191.3
494.4
2 ,380.4
2,007.3
373.2
1,737.7
1,221.1
516.5
2,446.6
2,060.5
386.0
1,786.3
1,256.0
530.3
2,502.9
2,108.1
394.8
E x p o rts .
Goods
S e rv ic e s .....................................
Im ports..
Goods
S e rv ic e s .....................................
2,523.0
2,689.8
2,608.3
2,670.0
2,716.5
2,764.4
2,824.7
Government consumption
expenditures and gross
investment.................................
932.5
624.3
308.2
1,590.5
976.0
660.1
315.9
1,713.8
946.6
634.8
311.7
1,661.7
969.5
654.5
315.0
1,700.5
990.3
673.5
316.8
1,726.2
997.7
677.7
320.0
1,766.7
1,023.4
696.8
326.6
1,801.3
Fed e ra l............................................
National d e fe n s e .....................
N o n d e fe n s e .............................
State and lo c a l.............................
R e s id u a l..............................................
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
II
2008
III
IV
I
11,319.4 11,566.8 11,412.6 11,520.1 11,658.9 11,675.7 11,701.9
8,044.1
8,277.8
8,215.7
8,244.3
8,302.2
8,349.1
8,369.7
1,180.5
2,337.7
4,545.5
1,235.4
2,392.8
4,674.8
1,223.2
2,386.6
4,630.7
1,228.4
2,383.8
4,656.7
1,241.9
2,396.8
4,68 9.5
1,248.1
2,404.2
4 ,722.4
1,228.2
2,402.2
4 ,757.4
1,919.5
1,825.5
1,816.9
1,837.4
1,859.9
1,787.7
1,757.9
1,874.7
1,306.8
268.6
1,050.6
569.5
40.3
1,819.5
1,368.4
303.4
1,064.5
472.8
4.5
1,815.2
1,321.7
282.6
1,045.3
506.3
0.1
1,829.3
1,356.6
299.5
1,057.4
4 90.7
5.8
1,826.0
1,387.3
311.1
1,073.5
463.3
30.6
1,807.5
1,407.8
3 20.3
1,081.7
430.9
-1 8 .3
1,771.2
1,406.9
32 1.2
1,079.3
400.3
-1 4 .4
-624.5
-555.6
-612.1
-573.9
-533.1
-503.2
-480.2
1,304.1
927.4
377.1
1,928.6
1,646.9
283.8
1,409.9
1,000.8
409.4
1,965.4
1,673.5
293.8
1,354.7
957.6
397.2
1,966.8
1,675.6
293.1
1,379.5
973.1
406.4
1,953.4
1,663.4
291.9
1,441.2
1,031.4
410.4
1,974.3
1,683.2
293.1
1,464.1
1,041.2
423.4
1,967.3
1,671.9
297.1
1,474.1
1.045.1
429.4
1,954.3
1,656.7
299.1
1,981.4
2,021.6
1,994.7
2,014.8
2,033.6
2,043.4
2,053.3
742.3
491.5
250.7
1,239.0
-2 8 .3
755.0
505.1
249.6
1,266.4
- 4 5 .4
740.2
491.6
248.4
1,254.2
-4 2 .5
751.0
501.7
764.0
513.9
249.6
1,269.6
-4 6 .4
765.0
513.2
251.4
1,278.3
-5 2 .1
773.2
520.3
252.5
1,280.2
-4 4 .0
248.9
1,263,5
-4 0 .5
N ote . 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.
D-4
N ational Data
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
June 2008
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[P erc ent]
S easonally adjusted at annual rates
Line
2006
2007
2007
I
Gross domestic product....
Personal consumption
expenditures............................
Durable g o o d s ..............................
N ondurable g o o d s ......................
S e r v ic e s ........................................
Gross private domestic
investment.................................
Fixed investm ent..........................
N o n re s id e n tia l.........................
S tru c tu re s............................
E quipm ent and softw are
R e side n tial................................
C hange in private inve nto rie s...
Net exports of goods and
services.....................................
E x p o rts ...........................................
G o o d s ........................................
S e r v ic e s ....................................
Im p o r ts ...........................................
G o o d s ........................................
S e r v ic e s ....................................
Government consumption
expenditures and gross
investment.................................
F e d e ra l...........................................
N ational defe n se.....................
N o n d e fe n s e ..............................
S tate and lo c a l..............................
II
Seasonally a djusted at annual rates
III
IV
2.7
4.2
2.6
1.0
2
3
4
5
2.8
2.5
3.5
4.3
1.8
3.9
3.5
- 0 .2
6.6
2.6
2.4
2.6
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures............................
- 1 .3
3.1
3.4
-1 .8
3.0
3.2
-1 .9
5.0
3.8
- 1 .4
10.0
2.6
-1 .8
1.1
2.8
-1 .7
7.1
3.5
3.5
1.2
2.0
-0.4
-0.3
0.8
-1.0
3.5
3.1
11.7
0.0
4.4
1.1
1.2
3.3
0.4
0.9
1.9
1.9
4.1
1.0
2.0
- 0 .3
0.0
-1.1
0.5
-0 .8
-0 .5
-0 .6
0.5
-1 .1
- 0 .3
0.7
1.1
3.2
0.1
- 0 .4
- 0 .5
0.2
2.0
-0 .7
-2 .3
13
14
15
16
17
18
19
3.4
3.3
3.7
4.0
4.2
3.1
3.5
3.6
3.3
3.5
3.6
2.8
3.6
3.5
3.9
1.0
0.7
2.3
5.3
5.1
5.8
11.9
13.0
6.7
3.8
3.2
5.1
7.5
7.7
6.5
6.0
6.3
5.3
13.2
14.1
8.6
8.7
10.3
5.0
12.5
13.6
6.5
20
21
22
23
24
4.9
4.5
6.4
5.5
3.2
5.2
6.9
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts............................................
G o o d s ........................................
S e rv ic e s .....................................
3.9
4.1
3.5
5.4
2.9
2.9
2.9
5.4
5.3
5.0
5.9
7.0
3.8
4.1
3.3
6.5
1.6
1.9
1.1
4.2
2.5
3.0
1.3
6.8
6.1
5.8
6.6
7.4
Government consumption
expenditures and gross
investment.................................
4.2
2.6
2.6
F ed e ra l............................................
N ational d e fe n s e .....................
N o n d e fe n s e ..............................
State and lo c a l..............................
25
3.1
2.7
2.5
1.0
2007
2007
I
3.2
6
7
8
9
10
11
1?
2006
I
1
Addendum:
G ro ss national p ro d u c t..............
Line
2008
D urable g o o d s .............................
Nondurable g o o d s ......................
S e rv ic e s .........................................
Gross private domestic
investment.................................
Fixed in ve stm e n t..........................
N onre sid e n tia l..........................
S tru c tu re s ............................
E quipm ent and softw are...
R e s id e n tia l................................
C hange in private in v e n to rie s ...
Net exports of goods and
services.....................................
4.2
III
2.6
IV
I
1
3.2
2
3
4
5
1.94
1.80
2.44
2.95
1.26
2.74
2.42
-0.1 1
0.62
1.42
- 0 .1 4
0.61
1.33
- 0 .1 5
1.01
1.58
-0 .1 1
1.97
1.10
-0 .1 4
0.23
1.17
-0 .1 3
1.42
1.45
-0 .0 2
1.33
1.11
0.59
0.19
0.32
-0.06
-0.05
0.12
-0.15
0.58
0.32
0.32
0.00
0.26
0.01
0.18
0.13
0.10
0.03
0.05
0.01
0.31
0.20
0.13
0.07
0.10
0.01
-0 .0 4
0.00
-0 .0 4
0.03
-0 .0 4
-0 .0 1
- 0 .0 7
-0 .0 6
0.02
- 0 .0 8
-0 .0 1
0.02
0.10
0.12
0.11
0.01
-0 .0 2
0.02
-0 .0 8
0.02
0.07
- 0 .0 5
-0 .0 9
-0 .0 7
13
14
15
16
17
18
19
-0.30
-0.19
0.25
-1.30
-0.79
-1.42
-1.02
0.37
0.25
0.12
-0 .6 7
-0 .5 9
-0 .0 8
0.40
0.29
0.11
- 0 .5 9
-0 .5 2
-0 .0 7
0.41
0.28
0.13
-0 .1 6
-0 .1 0
-0 .0 6
0.60
0.40
0.20
-1 .8 9
-1 .7 2
-0 .1 7
0.44
0.26
0.18
-1 .2 3
-1 .0 6
-0 .1 7
0.71
0.53
0.19
-2 .1 3
-1 .9 1
-0 .2 2
1.04
0.86
0.18
-2 .0 6
-1 .8 9
-0 .1 7
20
21
22
23
24
0.92
0.86
1.22
1.04
0.62
0.99
1.34
0.27
0.19
0.08
0.64
0.20
0.14
0.07
0.65
0.37
0.24
0.13
0.84
0.27
0.19
0.08
0.78
0.11
0.09
0.02
0.51
0,17
0.14
0.03
0.82
0.43
0.28
0.15
0.91
6
7
8
9
10
11
12
2.7
II
2008
2.4
1.0
T a b le 1 .1 .9 . I m p lic it P r ic e D e f la t o r s f o r G r o s s D o m e s t ic P r o d u c t
T a b le 1 .1 .1 0 . P e r c e n ta g e S h a r e s o f G r o s s D o m e s t ic P r o d u c t
[Index numbers, 2000=100]
[Percent]
S easonally adjusted
2007
Line
Line
2006
2007
2007
I
Gross domestic product . ..
Personal consumption
expenditures............................
D urable g o o d s .............................
Nondurable g o o d s .......................
S e r v ic e s ........................................
Gross private domestic
investment.................................
Fixed investm ent..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
E quipm ent and softw are
R e side n tial................................
C hange in private in v e n to rie s ...
II
III
IV
I
116.567
119.664 118.745
119.519
119.826
120.542
121.310
2
3
4
5
114.675
117.593
116.125
117.341
117.868
119.015
120.030
88.856
114.989
120.725
87.277
118.404
124.556
8 7.803
115.621
123.244
87.493
118.414
124.047
87.095
118.753
124.914
86.730
120.811
125.988
86.686
122.754
126.806
6
7
8
9
10
11
12
115.087
116.427
116.538
116.416
116.290
116.466
116.122
115.352
106.962
150.806
94.485
134.287
116.650
108.290
155.612
94.854
135.503
116.732
108.297
155.527
94.889
135.779
116.650
108.289
155.089
95.000
135.502
116.511
108.136
155.281
94.749
135.409
116.710
108.435
156.497
94.781
135.280
116.560
108.477
157.255
94.610
134.496
Net exports of goods and
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s ....................................
Im p o rts ...........................................
G o o d s ........................................
S e rv ic e s ....................................
Government consumption
expenditures and gross
investment.................................
F e d e ra l.......
N ational d efe n s e .....................
N o n d e fe n s e ..............................
State and lo c a l..............................
112.537
111.117
115.916
115.610
114.178
123.039
116.537
115.195
119.718
119.617
118.277
126.480
114.412
113.196
117.297
115.114
113.548
123.305
115.891
114.599
118.955
118.408
117.062
125.314
116.971
115.508
120.453
120.572
119.255
127.303
118.683
117.281
122.008
124.360
123.241
129.945
121.178
120.183
123.507
128.072
127.245
132.001
20
21
22
23
24
127.335
133.051
130.760
132.522
133.583
135.281
137.569
125.622
127.026
122.959
128.370
129.265
130.692
126.565
135.324
127.884
129.146
125.512
132.492
129.096
130.446
126.549
134.580
129.619
131.063
126.885
135.963
130.414
132.042
127.303
138.203
132.358
133.930
129.363
140.699
25
116.558
119.656
118.736
119.512
119.814
120.535
121.301
Addendum:
G ross national p ro d u c t..............
I
Gross domestic product....
Personal consumption
expenditures............................
D urable g o o d s ..............................
Nondurable g o o d s ......................
S e rv ic e s .........................................
Gross private domestic
investment.................................
Fixed in ve stm e n t..........................
N onre sid e n tia l..........................
S tru c tu re s ............................
E quipm ent and so ftw are...
R e s id e n tia l................................
C hange in private in v e n to r ie s ...
Net exports of goods and
services.....................................
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts............................................
G o o d s ........................................
S e rv ic e s .....................................
Government consumption
expenditures and gross
investment.................................
F ederal............................................
N ational d e fe n s e .....................
N o n d e fe n s e .............................
State and lo c a l..............................
2008
2007
2008
1
13
14
15
16
17
18
19
2006
2.6
II
III
IV
I
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2
3
4
5
69.9
70.3
70.4
70.3
70.0
70.6
70.8
7.9
20.4
41.6
7.8
20.5
42.1
7.9
20.4
42.1
7.8
20.5
42.0
7.7
20.4
41.9
7.7
20.6
42.3
7.5
20.8
42.5
6
7
8
9
10
11
12
16.7
15.4
15.6
15.5
15.5
14.8
14.4
16.4
10.6
3.1
7.5
5.8
0.4
15.3
10.7
3.4
7.3
4.6
0.0
15.6
10.6
3.2
7.3
5.1
0.0
15.5
10.7
3.4
7.3
4.8
0.0
15.2
10.7
3.5
7.3
4.5
0.3
15.0
10.8
3.6
7.3
4.1
- 0 .2
14.5
10.8
3.6
7.2
3.8
- 0 .2
13
14
15
16
17
18
19
-5.8
-5.1
-5.3
-5.2
-5.0
-5.0
-5.0
11.1
7.8
3.3
16.9
14.3
2.6
11.9
8.3
3.5
17.0
14.3
2.7
11.4
8.0
3.4
16.7
14.0
2.7
11.6
8.1
3.5
12.1
8.5
3.5
12.6
8.8
3.7
16.8
14.1
2.7
17.0
14.4
2.7
12.3
8.7
3.7
17.4
14.6
2.7
17.6
14.9
2.8
20
21
22
23
24
19.1
19.4
19.2
19.4
19.4
19.6
19.9
7.1
4.7
2.3
12.1
7.1
4.8
2.3
12.4
7.0
4.7
7.0
4.8
2.3
12.4
7.1
4.8
2.3
12.4
7.1
4.8
2.3
12.6
7.2
4.9
2.3
12.7
2.3
12.3
June 2008
D -5
S u r v e y o f C u r r e n t B u s in e s s
T a b le 1 .2 .1 . P e r c e n t C h a n g e F r o m
P r e c e d in g
P e r io d in
R eal
T a b le 1 .2 .2 . C o n t r ib u t io n s t o
G r o s s D o m e s tic P r o d u c t b y M a jo r T y p e o f P r o d u c t
P e r c e n t C h a n g e in R e a l
G r o s s D o m e s tic P r o d u c t b y M a jo r T y p e o f P r o d u c t
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
S easonally adjusted at annual rates
Line
2008
2006
2007
2007
I
Gross domestic product.......
Final sales of dom estic
p ro d u c t................................
C hange in private
in v e n to rie s ..........................
G oods................................................
11.7
Final s a le s ....................................
C hange in private inventories
Durable g o o d s .................................
Final s a le s ....................................
C hange in private inventories 1
Nondurable g o o d s ..........................
Final s a le s ....................................
C hange in private in v e n to rie s 1
8.6
- 1 .6
4.3
1.0
0.4
Final sales of dom estic
p ro d u ct.................................
C hange in private
in v e n to rie s ..........................
- 2 .9
0.3
18.0
8.9
-4 .1
-0 .3
Services 2..........................................
Structures.........................................
Addenda:
M otor vehicle o u tp u t.......................
G ross dom estic product
excluding m otor vehicle output
Final sales of com puters 3............
G ross do m estic product
excluding final sales of
co m p u te rs .....................................
G ross dom estic pu rchases
excluding final sales of
c o m p u ters to dom estic
p u rc h a s e rs ....................................
0.7
Percent change at annual rate:
Gross domestic product......
Percentage points at annual
rates:
0.9
-0 .1
2.3
2.9
-4.7
-6 .2
-1 .3
-2.1
6.2
3.0
19.4
2.3
20.3
2.8
19
2.6
- 7 .8
0.7
4.3
0.4
3.1
-4.2
3.1
-7.0
-1 2 .6
1.0
13.1
-2 6 .0
-1 2 .3
3.9
35.7
4.7
49.8
1.5
26.6
1.3
8.6
2.1
2.1
1.3
0.6
3.6
4.6
0.!
2.2
3.2
3.2
0.4
0.9
-0 .7
G oods................................................
Final sa le s .....................................
C hange in private inventories
Durable g o o d s .................................
Final sa le s.....................................
Change in private in v e n to rie s 1
N ondurable g o o d s ..........................
Final s a le s .....................................
C hange in private inventories 1
1
2.9
2
2.81
2.52
3
0.06
-0 .3 3
4
5
6
7
8
9
10
11
12
1.53
1.02
1.46
0.06
0.59
0.68
-0 .0 9
0.94
0.79
0.16
2008
III
II
IV
3.8
4.9
1.25
3.60
-0 .6 5
0.22
0.06
1.35
-0 .3 3
0.57
0.75
-0 .1 8
0.44
0.60
-0 .1 5
2.2
0.6
0.6
0.9
4.02
2.36
0.69
0.89
- 1 .7 9
0.21
1.65
3.48
-0.49
0.32
0.72
-0 .6 5
0.80
0.76
0.03
-0 .7 3
-0 .0 4
-0 .6 9
1.43
0.22
0.31
1.10
-0 .8 0
1.34
0.32
1.02
2.59
0.89
2.27
1.18
1.08
1.21
1.41
- 0 .2 0
1.29
-1 .7 9
0.92
1.17
-0 .2 5
-1 .4 1
0.13
- 1 .5 4
0.11
0.21
- 0 .4 0
0.05
- 0 .4 5
0.72
0.06
0.66
1.85
0.32
1.86
-0.43
1.80
-0.73
1.89
-1.31
Services 2..........................................
Structures..........................................
Addenda:
14
1.36
-0.01
1.68
-0.51
1.21
-0.68
M otor vehicle o u tp u t......................
Gross d om estic product excluding
m otor vehicle o u tp u t..................
Final sales of c o m p u te rs 3............
G ross dom estic product excluding
final sales o f c o m p u te rs ............
15
-0 .0 4
-0 .0 7
0.18
0.03
0.36
- 0 .8 6
- 0 .3 5
16
17
2.91
0.13
2.25
0.13
0.42
-0 .0 1
3.79
0.21
4.54
0.28
1.43
0.16
1.25
0.06
18
2.74
2.06
0.61
3.61
4.63
0.41
0.84
13
0.0
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.
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.
T a b le 1 .2 .3 . R e a l G r o s s D o m e s t ic P r o d u c t b y M a jo r T y p e o f P r o d u c t ,
T a b le 1 .2 .4 . P r ic e I n d e x e s f o r G r o s s D o m e s t ic P r o d u c t
Q u a n tity In d e x e s
b y M a jo r T y p e o f P r o d u c t
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
I
II
Season ally adjusted
2008
III
IV
1
115.304 117.825 116.254 117.349 118.763 118.934 119.201
Final sales of dom estic
p ro d u c t................................
C hange in private
2
115.526
116.916
117.953
119.117
119.822
Line
Final s a le s ...................................
C hange in p rivate inventories
D urable g o o d s .................................
Final s a le s ...................................
C h a ng e in p riva te inventories 1
N ondurable g o o d s ..........................
Final s a le s ....................................
C hange in private inventories 1
4
5
6
/
8
q
120.028
117.643 121.503 118.766 120.338 123.700 123.208 123.530
123.486
120.844
122.228
124.777
126.093
126.204
117.200
118.567
122.224
125.297
118.695
121.425
119.342
123.890
124.375
126.564
126.484
129.309
125.555
129.420
10
11
1?
118.363
118.259
121.347
122.375
119.206
120.674
121.506
121.227
123.585
123.684
121.091
123.915
122.372
124.026
Services 2..........................................
Structures........................................
Addenda:
13
14
115.288 118.624 117.256 118.167 119.083 119.991 120.944
109.714 104.576 105.024 105.801 104.684 102.795 99.386
M otor vehicle o u tp u t.......................
G ross dom e stic product
excluding m oto r vehicle o utput
Final sales of co m pu ters 3............
G ro ss do m estic product
e xcluding final sales of
c o m p u te rs .....................................
G ro ss do m estic pu rchases
excluding final sales of
com p uters to dom estic
p u rc h a s e rs ....................................
15
115.213
112.741
112.874
113.165
116.692
108.233
104.745
16 115.299 117.978 116.354 117.474 118.822 119.260 119.642
17 240.490 289.426 254.992 275.237 3 04.496 322.978 329.712
18 114.622
116.013
116.999
117.567
115.526
116.675
116.561
117.319
117.893
118.239
118.016
118.035
118.266
118.029
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.
2007
I
II
2008
III
IV
I
1
116.568 119.668 118.750 119.527 119.837 120.560 121.334
Final sales o f dom estic
p ro d u ct.................................
C hange in private
2
116.603
119.692
118.773
119.555
119.860
120.579
121.374
H
118.243
19
2007
Gross domestic product......
3
G oods................................................
2006
I
Gross domestic product.......
118.452
I
G oods................................................
4
5
6
/
8
q
100.852 101.813 101.805 102.250 101.631 101.567 101.707
100.846
101.759
101.756
102.211
101.574
101.497
101.696
91.864
91.749
90.650
90.527
91.358
91.217
91.012
90.890
90.289
90.171
89.943
89.830
89.775
89.678
10
11
1?
109.143
109.240
112.166
112.192
111.475
111.518
112.671
112.727
112.152
112.171
112.364
112.353
112.809
112.900
Services 2..........................................
Structures..........................................
Addenda:
13
122.538 126.833 125.257 126.348 127.250 128.476 129.725
139.080 143.290 142.812 142.921 143.322 144.106 144.404
M otor vehicle o u tp u t......................
Gross dom estic product
excluding m otor vehicle output
Final sales of c o m p u te r s 3 ............
G ross dom estic product
excluding final sales of
c o m p u te rs .....................................
15
97.777
97.272
97.247
97.523
9 7.415
9 6.9 0 4
95.795
16
17
117.302
34.885
120.539
29.747
119.587
32.081
120.383
30.792
120.709
28.771
121.478
27.346
122.317
18
117.760
121.048
120.049
120.873
121.246
122.026
122.841
Final sa le s.....................................
C hange in private inventories
D urable g o o d s .................................
Final sa le s.....................................
C hange in private inventories 1
Nondurable g o o d s ..........................
Final sa le s.....................................
C hange in private inventories 1
14
26 .489
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
N ational Data
D -6
June 2008
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
[B illio n s o f do lla rs]
[B illio n s o f ch a in e d (2 0 0 0 ) dolla rs]
S easonally adjusted at annual rates
Line
2007
2006
2007
I
Gross domestic product
1
F inal sales o f dom e stic
p r o d u c t................................
C hange in private
in v e n to rie s ..........................
II
Seasonally ad justed at annual rates
IV
13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
46.7
2.9
- 1 .6
5.1
35.4
- 2 7 .4
- 2 3 .3
4
5
6
7
8
9
10
11
12
4,092.4
4,266.2
4,170.5
4,243.9
4,335.6
4,314.8
4,331.3
4,045.8
46.7
1,818.9
1,798.5
20.4
2 ,273.5
2,247.2
26.3
4,263.3
2.9
1,871.7
1,875.1
- 3 .4
2,394.5
2,388.2
6.3
4,172.1
-1 .6
1,832.1
1,831.3
0.9
2,338.3
2,340.8
-2 .5
4,238.8
5.1
1,835.1
1,861.7
-2 6 .6
2,408.8
2,377.0
31.7
4,300.1
35.4
1,897.4
4,342.2
- 2 7 .4
1,922.1
4,354.6
-2 3 .3
1,904.4
1,886.9
10.5
2,438.2
2,413.3
25.0
1,920.5
1.6
2,392.7
2,421.7
-2 9 .0
1,918.9
-1 4 .6
2,426.9
2,435.6
- 8 .7
Services 2..........................................
Structures..........................................
Addenda:
13
7,664.8
1,437.5
8,163.2
1,412.0
7,968.1
1,413.4
8,100.0
1,424.9
8,221.1
1,413.8
8,363.5
1,395.9
8,511.9
1,352.4
M otor v ehicle o u tp u t.......................
G ross dom e stic p roduct
excluding m oto r v ehicle output
Final sales of c o m p u te r s 3............
G ross dom e stic p roduct
excluding final sales of
c o m p u te rs .....................................
15
14
411.1
400.6
400.1
415.8
403.9
2007
2007
382.5
II
I
3
Final s a le s ....................................
C hange in private inventories
D urable g o o d s .................................
Final s a le s ....................................
C hange in private inventories 1
Nondurable g o o d s ..........................
Final s a le s ...................................
C h a ng e in private inventories 1
2006
I
2 13,148.0 13,838.4 13,553.5 13,763.6 13,935.0 14,101.6 14,218.8
G oods................................................
Line
2008
III
365.4
1
Final sales of dom estic
pro d u ct................................
C hange in private
in v e n to rie s .........................
R esid u a l..................................
3
4
40.3
3.2
4.5
0.8
0.1
0.9
5
6
7
8
9
10
11
12
13
4,057.9
4,191.0
4,011.8
40.3
1,979.9
1,960.3
18.5
2,083.2
2,057.2
21.7
4,189.7
4.5
2,064.8
2,071.6
- 3 .0
2,135.7
2 ,128.8
6.9
6,255.0
1,033.6
-2 6 .9
Final sa le s....................................
Change in private inventories
Durable g o o d s ................................
Final sa le s....................................
C hange in private inventories 1
N ondurable g o o d s .........................
Final sa le s ....................................
C hange in private inventories 1
Services 2 ........................................
Structures........................................
R e s id u a l................................................
2 11,275.9
14
15
16
IV
I
11,319.4 11,566.8 11,412.6 11,520.1 11,658.9 11,675.7 11,701.9
Gross domestic product.....
G oods...............................................
2008
III
11,561.5 11,411.6 11,512.8
11,626.4
5.8
1.5
30.6
1.9
11,695.2 11,715.3
-1 8 .3
-1 .2
-1 4 .4
1.0
4,096.6
4,150.9
4,266.8
4,249.9
4,261.0
4,100.1
0.1
2,005.2
2,007.5
0.8
2,098.0
2,099.2
-0 .6
4,147.0
5.8
2,016.1
2,048.3
-2 3 .4
2,138.5
2,108.8
25.7
4,233.5
30.6
2,101.2
2,092.5
9.3
2,175.1
2,151.5
20.6
4,278.1
- 1 8 .3
2,136.8
2,137.9
1.5
2,131.2
2,155.5
-1 8 .1
4,281.9
-1 4 .4
2,121.1
2 ,139.7
-1 2 .4
2,153.7
6,436.1
985.2
6,361.8
989.4
6,411.2
996.7
6,460.9
986.2
6,510.2
968.4
6,561.9
936.3
-5 8 .8
-4 5 .5
-4 7 .2
-6 2 .1
-7 9 .7
- 7 8 .0
413.0
2,157.5
-3 .1
Addenda:
16 12,783.6 13,440.8 13,151.8 13,364.9 13,554.7 13,691.7 13,830.1
96.4
97.2
96.1
17
92.2
94.3
90.1
93.3
18 13,102.5 13,747.1
13,461.9 13,675.5
13,874.0 13,977.0 14,099.4
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.
T a b le 1 .3 .1 . P e r c e n t C h a n g e F r o m
P r e c e d in g
M otor vehicle o u tp u t .....................
Gross dom estic product
excluding m otor vehicle output
Final sales of com puters 3 ...........
G ross dom estic product
excluding final sales of
co m p u te rs ....................................
17
420.5
411.5
412.0
425.9
395.0
382.3
18 10,898.1
264.4
19
11,151.2
318.2
10,997.8
280.3
11,103.6 11,231.1
302.6
334.8
11,272.5
355.1
11,308.6
362.5
11,126.4 11,357.1
11,214.1
11,314.6
11,455.9
11,480.1
20
T a b le 1 .3 .3 . R e a l G r o s s V a lu e A d d e d b y S e c t o r ,
P e r io d
in R e a l G r o s s V a lu e A d d e d b y S e c t o r
Q u a n tity In d e x e s
[Percent]
[Index numbers, 2000=100]
Season ally adjusted
S easonally adjusted a t annual rates
Line
2006
2007
2007
I
Gross domestic product....
Business 1.....................................
N onfarm 2......................................
Farm ....
Households and institutions....
H o u s e h o ld s ..................................
N on pro fit institutions se rving
h o u s e h o ld s 3 ...........................
General governm ent4................
F e d e ra l...........................................
State and lo c a l..............................
3.8
4.4
4.9
0.6
0.1
0.9
0.6
Gross domestic product....
Business 1.....................................
0.7
-7 .7
N onfarm 2 ......................................
F a r m ...............................................
2.9
3.1
3.2
0.6
2.3
-0 .3
0.3
-1 2 .5
4.2
14.8
5.7
5.6
9.6
0.2
- 3 .3
5
6
3.2
2.5
3.3
3.2
3.0
2.3
1.4
Households and institutions....
5.2
2.6
3.2
3.1
3.5
2.5
-0 .5
7
0.8
2.5
3.3
2.4
2.1
3.8
H o u se h o ld s....................................
N onprofit institutions serving
h o u s e h o ld s 3............................
8
9
10
0.6
1.2
0.8
0.9
1.6
1.7
2.3
General governm ent4................
-0 .2
1.0
0.6
1.4
-1 .2
1.6
- 0 .7
1.6
3.7
0.8
1.3
1.9
3.7
1.7
Fed e ra l............................................
State and lo c a l..............................
11
5.0
2.5
2.9
3.1
3.4
2.5
- 0 .7
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.
2007
1
2
3
4
5
6
II
2008
III
IV
I
115.304 117.825 116.254 117.349 118.763 118.934 119.201
116.947 119.624 117.834 119.099 120.759 120.802 120.989
116.884
122.379
120.761
123.688
120.982
121.248
113.025 115.887 114.618 115.514 116.373 117.045
117.441
115.385
119.588
122.013
117.828
117.755
119.058
121.894
120.704
124.715
118.354
116.997
117.886
118.892
119.640
119.487
111.873
112.780
113.462
114.044
115.100
7
110.304
113.040
8
9
10
107.192
108.435 107.919 108.157 108.597 109.066 109.695
106.820
107.352
107.410
108.880
106.978
108.326
106.789
108.753
107.765
108.959
108.107
109.482
109.093
109.956
11
111.201
114.015
112.725
113.583
114.528
115.224
115.034
Addendum:
Addendum:
G ross housing value added
2007
I
2
3
4
3.3
2006
I
2.2
2.3
1
0.6
0.2
Line
2008
IV
III
II
11,443.9
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.
N ote . 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.
G ross housing value a d d e d ......
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.
June 2008
D -7
S u r v e y o f C u r r e n t B u s in e s s
Table 1.3.4. Price Indexes for Gross Value Added by Sector
Table 1.3.5. Gross Value Added by Sector
[In d e x num b ers, 2 0 0 0 = 1 0 0 ]
[B illio n s o f do lla rs]
S easonally adjusted
Line
2007
2006
I
Gross domestic product . ..
Business 1.....................................
N onfarm 2......................................
F a rm ...............................................
Households and institutions....
H o u s e h o ld s ..................................
N onprofit ins titutions serving
house ho lds 3 ...........................
General governm ent4................
F e d e ra l...........................................
S tate and lo c a l..............................
1
2
3
4
S easonally adju ste d at annual rates
2007
II
2008
III
IV
Line
117.071
155.858
N onfarm 2 ......................................
F a r m ...............................................
Households and institutions....
117.435
122.228
120.068
121.678
122.655
124.512
125.646
7
129.125
134.521
132.889
133.835
135.092
136.268
137.630
H o u se h o ld s....................................
N onprofit institutions serving
h ouseholds 3............................
8
9
10
130.963 136.652 134.834 136.167 137.252 138.355 140.126
General governm ent4 ................
136.135
128.806
140.769
134.933
139.564
132.863
140.938
134.179
141.032
135.671
141.542
137.020
144.460
138.316
11
117.539
122.444
120.342
121.857
122.870
124.705
125.878
115.932
143.741
115.952
152.466
116.402
164.176
Gross domestic product....
Business 1.....................................
122.533 127.586 125.645 126.977 128.074 129.647 130.879
115.341
139.118
F ed e ra l............................................
State and lo c a l..............................
Addendum:
G ro ss ho us in g value ad ded
II
2008
III
IV
I
13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
1
2 10,192.8 10,654.7 10,435.6 10,604.7 10,761.8 10,816.5 10,886.6
3 10,097.2 10,524.8 10,319.0 10,479.8 10,627.2 10,673.3 10,752.9
4
95.7
143.2
124.9
134.6
133.6
129.8
116.6
5
6
1,500.3
1,601.8
1,560.0
1,588.9
1,614.5
1,643.8
834.2
890.6
864.8
883.0
8 97.7
917.0
924.2
7
666.1
711.2
695.2
705.9
716.8
726.8
74 0.8
8
9
10
1,501.5
1,584.9
1,556.3
1,575.2
1,594.2
1,613.9
1,644.0
458.6
1,042.9
4 76.8
1,108.1
470.8
1,085.5
4 74.6
1,100.5
4 79.3
1,114.9
4 82.6
1,131.4
497.0
1,147.0
11
1,038.2
1,108.9
1,077.4
1,099.3
1,117.6
1,141.2
1,150.0
1,665.0
Addendum:
G ross housing value added
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.
2007
I
5
6
115.907
149.875
2007
I
116.568 119.668 118.750 119.527 119.837 120.560 121.334
113.723 116.222 115.558 116.187 116.292 116.850 117.434
113.779
109.306
2006
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.
T a b le 1 .3 .6 . R e a l G r o s s V a lu e A d d e d b y S e c t o r , C h a in e d D o lla r s
[Billions of chained (2000) dollars]
S easonally adjusted at annual rates
2006
Line
2007
2007
I
Gross domestic product................................................
Business 1..................................................................................
N onfarm 2 ......................................................................................
F a rm ................................................................................................
Households and institutions.................................................
H o u s e h o ld s ...................................................................................
N onprofit institutions serving h o u s e h o ld s 3 ..........................
General governm ent4.............................................................
F e d e ra l..................
S tate and lo c a l.....
R esidual.....................
II
2008
IV
III
I
11,319.4
8,965.9
11,566.8
9,171.1
11,412.6
9,033.9
11,520.1
9,130.9
11,658.9
9,258.2
11,675.7
9,261.5
11,701.9
9,275.8
8,877.5
87.5
9,082.9
87.3
8,949.2
84.2
9,042.6
87.2
9,167.6
89.2
9,172.0
88.5
9,188.8
86.7
5
6
7
1,221.5
1,252.4
1,238.7
1,248.4
1,257.7
1,264.9
1,269.2
710.4
513.0
728.6
525.7
720.3
520.3
725.8
524.5
732.0
5 27.7
736.6
530.4
735.6
535.3
8
9
10
11
1,146.5
1,159.8
1,154.3
1,156.8
1,161.5
1,166.6
1,173.3
336.9
809.7
-1 5 .6
338.7
821.2
-1 7 .6
337.4
817.0
-1 5 .8
336.8
820.2
-1 7 .0
339.9
821.8
- 1 9 .3
340.9
825.7
- 1 8 .4
344.0
829.3
-1 7 .8
12
883.3
905.6
895.4
902.2
909.7
915.2
913.7
1
2
3
4
Addendum:
G ross housing value a d d e d ......................................................
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.
T a b le 1 .4 .1 . P e r c e n t C h a n g e F r o m
P r e c e d in g
4.
Equals compensation of general government employees plus general
government consumption of fixed capital.
N o te . 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.
P e r io d in R e a l G r o s s D o m e s t ic P r o d u c t , R e a l G r o s s
D o m e s t ic P u r c h a s e s , a n d R e a l F in a l S a le s t o
D o m e s tic P u r c h a s e r s
[Percent]
S easonally adjusted a t annual rates
Line
2007
2006
2007
I
Gross domestic product.........................................................
Less: E xports of goods and s e r v ic e s ..........................................
Plus: Im ports of goods and s e r v ic e s ...........................................
II
2008
III
IV
I
2.9
2.2
0.6
3.8
4.9
0.6
0.9
8.4
5.9
8.1
1.9
1.1
3.9
7.5
- 2 .7
19.1
4.4
6.5
- 1 .4
2.8
- 2 .6
4
2.8
5 ..................
1
2
3
1.5
1.1
3.3
-0.4
0.1
..................
...................
..................
...................
..................
...................
Equals: Final sales to domestic purchasers......................
Addendum:
6
2.7
1.8
1.7
2.1
2.5
1.3
-0.1
Final sales of dom estic p ro d u c t...............................................
7
2.8
2.5
1.3
3.6
4.0
2.4
0.7
Equals: Gross domestic purchases.....................................
Less: C hange in private inventories .............................................
2.4
D -8
N ational Data
June 2008
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
[Inde x num b ers, 2 0 0 0 = 1 0 0 ]
[Inde x num b e rs, 2 0 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2007
2007
III
IV
I
1
115.304
117.825
116.254 117.349
118.763
118.934
119.201
2
118.957
128.603
123.568
125.833
131.458
133.555
134.466
I
Gross domestic product............
Less: E xp o rts of g oods and
s e rv ic e s .........................................
Plus: Im ports of goods and
s e rv ic e s .........................................
Equals: Gross domestic
purchases..................................
S eason ally adjusted
2006
II
2008
Line
2007
2007
I
Gross domestic product............
3
130.683
133.181
133.272
132.363
133.780
133.309
132.428
Less: E xports of goods and
s e rv ic e s .........................................
Plus: Im ports of goods and
s e rv ic e s .........................................
4
117.071
118.844 117.871
118.560
119.535
119.409
119.436
Equals: Gross domestic
purchases..................................
Less: C hange in private
2006
6
117.292 119.450
118.515
119.146 119.878
120.263
Final sales of dom estic product
7
115.526
116.916
117.953
119.822
118.452
P u r c h a s e s , a n d F in a l S a le s t o
2
112.537
116.510
114.433
115.912
116.992
118.704
121.200
3
115.610
119.613
115.114
118.408
120.572
124.360
128.072
4
116.920 120.068 118.702 119.809 120.330 121.432 122.471
119.117
6
116.956 120.093 118.727 119.838 120.355 121.452 122.511
120.028
Final sales o f dom estic product
7
116.603
119.692
118.773
Line
2006
P u r c h a s e s , a n d R e a l F in a l S a le s t o
2007
2007
IV
D o m e s t ic P u r c h a s e r s , C h a in e d
1,467.6
1,643.0
1,549.9
1,598.7
1,685.7
1,737.7
1,786.3
3
2 ,229.6
2,351.0
2,264.0
2,312.9
2,380.4
2,446.6
2,502.9
Equals: Gross domestic
purchases..................................
4
6
7
13,956.7 14,549.3 14,266.1 14,483.0 14,665.1 14,783.1 14,912.2
- 1 .6
5.1
35.4
- 2 7 .4
- 2 3 .3
13,910.1 14,546.4 14,267.7 14,477.9 14,629.7 14,810.5 14,935.5
13,148.0
13,838.4
13,553.5
13,763.6
13,935.0
14,101.6
2006
2007
121.374
D o lla r s
14,218.8
2007
I
I
13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
2.9
Line
2008
III
II
2
46.7
120.579
S easonally adjusted at annual rates
Less: E xports of goods and
s e rv ic e s ..........................................
Plus: Im po rts of goods and
s e rv ic e s ..........................................
5
119.860
[Billions of chained (2000) dollars]
I
1
119.555
T a b le 1 .4 .6 . R e la t io n o f R e a l G r o s s D o m e s t ic P r o d u c t , R e a l G r o s s D o m e s t ic
D o m e s tic P u r c h a s e r s
S easonally adjusted at annual rates
I
120.230
[Billions of dollars]
Final sales o f dom estic product
IV
Equals: Final sales to domestic
purchasers.................................
Addendum:
T a b le 1 .4 .5 . R e la t io n o f G r o s s D o m e s t ic P r o d u c t , G r o s s D o m e s t ic
Equals: Final sales to domestic
purchasers................................
Addendum:
III
116.568 119.668 118.750 119.527 119.837 120.560 121.334
s
Equals: Final sales to domestic
purchasers................................
Addendum:
Less: C hange in private
in v e n to rie s .....................................
II
1
Less: C hange in private
H
Gross domestic product............
2008
Gross domestic product............
Less: E xports of goods and
s e rv ic e s .........................................
Plus: Im ports of goods and
s e rv ic e s .........................................
1
II
2008
III
IV
I
11,319.4 11,566.8 11,412.6 11,520.1 11,658.9 11,675.7 11,701.9
2
1,304.1
1,409.9
1,354.7
1,379.5
1,441.2
1,464.1
1,474.1
3
1,928.6
1,965.4
1,966.8
1,953.4
1,974.3
1,967.3
1,954.3
Equals: Gross domestic
purchases..................................
4
Less: C hange in private
in v e n to rie s .....................................
5
11,937.1 12,117.8 12,018.7 12,088.9 12,188.3 12,175.5 12,178.2
40.3
4.5
0.1
5.8
30.6
-1 8 .3
-1 4 .4
Equals: Final sales to domestic
purchasers.................................
Addendum:
6
11,893.4 12,112.2 12,017.4 12,081.4 12,155.6 12,194.6 12,191.3
Final sales of dom estic product
7
11,275.9
11,561.5
11,411.6
11,512.8
11,626.4
11,695.2
11,715.3
N o te . 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.
June 2008
D -9
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.2. Contributions to Percent Change in Real
Gross Domestic Product, Expanded Detail
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjuste d at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
Gross domestic product....
Personal consumption
expenditures............................
D urable g o o d s ..............................
M otor ve hicles and p a r ts ......
F u rnitu re and h ousehold
e q u ip m e n t............................
O th e r .........................................
N on durable g o o d s .......................
F o o d ...........................................
C lothing and s h o e s .................
G a soline, fu el oil, a nd othe r
e nergy g o o d s ......................
O th e r ..........................................
S e r v ic e s ........................................
H o u s in g .....................................
H ousehold o p e ra tio n .............
E le c tric ity and g a s .............
O the r ho use ho ld operation
T ra nsp ortatio n..........................
M edical c a r e ............................
R e c re a tio n ................................
O th e r .........................................
Gross private domestic
investment.................................
Fixed in vestm e nt..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
E q uipm ent and softw are...
Inform ation processing
e qu ip m en t and
s o ftw a re ......................
C om p u ters and
peripheral
e q u ip m e n t.............
S oftw are 1 ..................
O th e r ...........................
In dustrial e q u ip m e n t.....
T ransportation
e q u ip m e n t..................
O th e r e q u ip m e n t...........
R esid e n tia l................................
C hange in private inventories...
II
1
2.9
2.2
0.6
2
3
4
3.1
2.9
3.7
3.8
-3.1
4.7
2.2
5
6
7
8
9
11.9
4.1
3.6
4.0
5.0
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
IV
3.8
0.6
1.4
2.8
2.3
1.0
8.8
11.3
1.7
- 2 .9
4.5
-5 .2
2.0
2.8
-6 .2
-1 3 .5
7.8
3.9
2.4
2.3
4.6
9.5
2.7
3.0
1.7
8.4
4.2
6.8
-0 .5
-1 .4
2.4
10.8
13.4
2.2
1.3
6.3
4.5
-4 .0
1.2
4.2
- 3 .6
-3 .9
-0 .3
1.1
1.7
- 0 .3
4.2
2.7
2.7
- 0 .8
-3 .1
0.8
1.2
3.3
3.1
3.5
- 1 .2
3.1
2.8
2.4
3.2
5.8
1.3
3.1
2.7
3.9
3.0
2.4
3.1
3.1
2.5
1.0
1.6
0.5
2.6
3.9
2.1
4.0
-4 .5
1.7
2.3
2.7
1.4
1.2
1.5
4.4
2.3
0.9
1.9
- 0 .6
3.3
2.8
2.5
6.2
13.5
1.1
3.5
2.2
3.5
2.4
- 1 .4
2.7
-4.9
-8.2
4.6
5.0
-14.6
-6.5
2.4
6.6
8.4
5.9
-2 .9
4.7
12.9
1.3
-4 .4
2.1
6.4
0.3
3.2
11.0
26.2
4.7
- 0 .7
9.3
16.4
6.2
- 4 .0
6.0
12.4
3.1
-7 .8
-0 .2
1.1
-0 .9
7.5
8.3
16.7
10.1
6.6
14.7
5.9
2/
28
29
30
17.7
3.6
7.0
3.6
19.4
6.6
5.1
1.4
43.0
9.3
13.5
-2 .9
12.3
10.8
8.4
16.3
11.7
4.4
6.5
8.2
32.8
11.9
9.7
-1 2 .9
17.2
6.5
0.3
3.0
31
32
33
34
W
7.0
2.8
-4 .6
-1 1 .9
- 4 .6
-1 7 .0
-1 5 .2
-2 1 .3
-1 6 .3
- 2 3 .8
9.3
-1 1 .8
3.0
6.1
-2 0 .5
-1 6 .3
6.9
-2 5 .2
-1 4 .2
-1 2 .7
- 2 5 .5
-0 .1
2.8
3.2
6.0
12.1
1.6
2.8
4.3
0.0
0.3
0.9
0.6
-4 .8
-1 .4
3.0
2.2
6.5
13.7
1.2
1.5
3.6
-1 .5
3.6
Net exports of goods and
M
Government consumption
expenditures and gross
investment.................................
F e d e ra l...........................................
N ational defe n se.....................
C o nsu m ptio n expenditures
G ross in ve s tm e n t...............
N o n d e fe n s e .............................
C onsum ption expenditures
G ross inve stm e nt...............
S tate and lo c a l..............................
C onsum ption expenditures
G ross inve stm e nt....................
8.4
9.9
4.8
5.9
6.0
5.2
8.1
7.9
8.5
1.9
1.6
3.5
1.1
0.9
1.6
3.9
4.2
2.3
7.5
6.6
9.6
- 2 .7
-2 .9
-1 .7
44
45
46
47
48
49
50
b1
52
53
54
1.8
2.2
1.9
1.2
6.9
2.8
2.2
6.5
1.6
1.4
2.6
2.0
-0.5
4.1
1.7
2.8
3.0
0.8
-0 .4
0.2
- 4 .5
2.2
1.9
3.6
- 6 .3
-1 0 .8
-9 .2
-2 0 .6
3.8
7.3
-1 8 .0
3.0
2.0
7.1
6.0
8.5
8.7
7.6
0.9
-0 .9
14.9
3.0
2.0
7.2
1. Excludes software “embedded," or bundled, in computers and other equipment.
19.1
26.2
4.0
4.4
4.8
1.7
2007
2007
I
4.9
38
39
40
41
42
43
2006
I
N o n fa rm .....................................
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s ....................................
Im p o rts ...........................................
G o o d s ........................................
S e rv ic e s ...................................
Line
2008
III
6.5
3.9
13.2
- 1 .4
- 2 .6
5.5
2.8
1.5
5.8
- 2 .6
- 3 .6
2.8
3.8
2.0
2.0
7.1
10.1
9.6
13.7
1.1
2.0
-4 .7
1.9
1.3
4.4
0.5
-0 .5
1.3
- 1 2 .7
2.8
2.2
7.3
2.8
2.2
5.0
4.4
5.6
5.8
4.6
1.8
1.6
2.7
0.6
2.3
-5 .9
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures............................
D urable g o o d s ..............................
M o to r vehicles and p a r t s ......
Furniture and household
e q u ip m e n t............................
O th e r............
N ondurable g o o d s .......................
F o o d .............
Clothing and s h o e s .................
G asoline, fuel oil, and other
energy g o o d s ......................
O th e r...........................................
S e rv ic e s .........................................
H ousing ......................................
H ousehold o p eration ..............
E lectricity and g a s .............
O ther household operation
T ransp o rta tio n ..........................
M edical c a r e ............................
R e c re a tio n ................................
O th e r...........................................
Gross private domestic
investment.................................
Fixed inve stm e n t..........................
N on re sid e n tia l..........................
S tru c tu re s ............................
Equipm ent and softw are...
Inform ation processing
equipm ent and
s o ftw a re ......................
C om puters and
peripheral
e q u ip m e n t..............
Softw are 1...................
O th e r............................
Industrial e q u ip m e n t.....
T ransportation
e q u ip m e n t...................
O ther e q u ip m e n t............
R e sid e n tia l................................
C hange in private in v e n to rie s ...
F a rm ...........................................
N o n fa rm .....................................
Net exports of goods and
services.....................................
E x p o r ts ...........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts............................................
G o o d s ........................................
S e rv ic e s .....................................
Government consumption
expenditures and gross
investment.................................
Fed e ra l............................................
National d e fe n s e .....................
C onsum ption expenditures
G ross in ve stm e n t...............
N o n d e fe n s e .............................
C onsum ption expenditures
G ross inve stm e n t...............
State and lo c a l..............................
C onsum ption expenditures...
G ross in ve stm e n t....................
II
2008
III
0.6
0.9
2.9
2.2
0.6
2
3
4
2.15
2.02
2.56
1.00
2.01
1.58
0.70
0.31
-0 .1 1
0.36
0.07
0.67
0.35
0.14
-0 .1 0
0.35
-0 .1 7
0.15
0.09
- 0 .4 9
- 0 .4 4
5
6
7
8
9
0.35
0.07
0.74
0.38
0.13
0.23
0.06
0.48
0.22
0.12
0.28
0.04
0.61
0.16
0.22
0.13
0.11
-0 .1 0
-0 .1 4
0.06
0.31
0.20
0.46
0.13
0.17
0.13
- 0 .0 6
0.25
0.39
- 0 .1 0
0.02
- 0 .0 6
-0 .0 7
0.11
0.04
10
11
12
13
14
15
16
17
18
19
20
-0 .0 1
0.23
1.11
0.28
-0 .0 3
-0 .0 5
0.02
0.03
0.40
0.09
0.34
-0 .0 3
0.17
1.18
0.25
0.12
0.09
0.03
0.08
0.33
0.11
0.29
0.06
0.17
1.28
0.26
0.04
0.03
0.01
0.07
0.47
0.06
0.39
-0 .1 2
0.10
0.96
0.29
0.05
0.02
0.03
0.11
0.28
0.03
0.19
- 0 .0 2
0.18
1.20
0.27
0.23
0.21
0.02
0.09
0.27
0.10
0.24
-0 .0 4
-0 .0 1
1.18
0.34
0.22
0.19
0.03
0 .07
0.51
0.00
0.03
- 0 .1 4
- 0 .0 8
1.25
0.23
0.25
0.22
0.03
0.04
0.4 3
-0 .0 4
0.35
21
22
23
24
25
0.45
-0.82
-1.36
0.71
0.77
-2.40
-0.98
0.39
0.68
0.24
0.44
-0 .4 8
0.49
0.40
0.10
-0 .7 0
0.22
0.20
0.02
0.49
1.12
0.78
0.34
-0.1 1
0.96
0.52
0 .44
- 0 .6 2
0.63
0.41
0.22
- 1 .2 0
- 0 .0 3
0.04
- 0 .0 7
26
0.27
0.29
0.56
0.36
0.24
0.51
0.22
27
28
29
30
0.12
0.06
0.10
0.05
0.12
0.10
0.07
0.02
0.25
0.14
0.18
- 0 .0 4
0.08
0.16
0.11
0.19
0.08
0.07
0.09
0.10
0.20
0.18
0.13
- 0 .1 8
0.11
0.10
0.00
0 .04
31
32
33
34
35
36
0.09
0.04
-0 .2 9
0.06
0.00
0.06
-0 .1 5
-0 .0 6
-0 .9 8
-0 .3 3
0.04
- 0 .3 7
- 0 .2 0
-0 .3 0
-0 .9 3
-0 .6 5
0.04
-0 .6 9
-0 .3 2
0.11
- 0 .6 2
0.22
-0 .0 5
0.27
0.03
0.07
- 1 .0 8
0.89
0.01
0.87
- 0 .1 9
0.08
-1 .2 5
- 1 .7 9
- 0 .0 9
- 1 .6 9
-0 .1 6
-0 .1 6
-1 .1 7
0.21
-0 .1 4
0.35
37
38
39
40
41
42
43
-0.08
0.59
-0.51
1.32
1.38
1.02
0.80
0.88
0.73
0.16
-0 .9 6
-0 .8 3
-0 .1 3
0.91
0.62
0.28
-0 .3 2
-0 .2 2
-0 .0 9
0.13
0.07
0.05
-0 .6 3
-0 .5 7
-0 .0 6
0.85
0.53
0.33
0.47
0.42
0.05
2.10
1.96
0.14
-0 .7 2
-0 .6 7
-0 .0 5
0.77
0.33
0.45
0.24
0.39
-0 .1 5
0.34
0.13
0.21
0.46
0.54
-0 .0 8
0.35
0.39
-0.09
0.79
0.74
0.38
0.38
0.15
0.09
0.05
0.04
0.06
0.05
0.02
0.19
0.13
0.06
0.12
0.13
0.13
0.01
-0 .0 1
0.00
-0 .0 1
0.27
0.18
0.09
-0 .4 6
-0 .5 4
-0 .4 0
-0 .1 4
0.08
0.14
-0 .0 6
0.36
0.20
0.17
0.41
0.39
0.35
0.04
0.02
-0 .0 2
0.04
0.37
0.19
0.18
0.50
0.47
0.39
0.08
0.03
0.0 4
-0 .0 1
0.24
0.13
0.11
0.04
- 0 .0 3
0.05
-0 .0 8
0.06
0.04
0.02
0.34
0.22
0.12
0.31
0.27
0.24
0.03
0.04
0.0 3
0.01
0.08
0.23
- 0 .1 6
1. Excludes software “embedded,” or bundled, in computers and other equipment.
4.9
I
1
44
45
46
47
48
49
50
51
52
53
54
3.8
IV
D-10
N ational Data
June 2008
Table 1.5.3. Real Gross Domestic Product, Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product, Expanded Detail
[In d e x num b e rs, 2 0 0 0 = 1 0 0 ]
[In d e x nu m b e rs, 2 0 0 0 = 1 0 0 ]
S easonally adjusted
Line
2006
2007
2007
I
Gross domestic product ...
Personal consumption
expenditures............................
D urable g o o d s ..............................
M otor ve hicles and p a r ts ......
F u rnitu re and h ousehold
e q u ip m e n t............................
O th e r .........................................
N ondurable g o o d s ......................
F o o d ...........................................
C lothing and s h o e s .................
G asoline, fuel oil, and other
energy g o o d s .......................
O th e r .........................................
S e r v ic e s ........................................
H o u s in g .....................................
H ousehold o p e ra tio n .............
E lectricity and g a s .............
O th e r househ old operation
T ra nsp orta tion ..........................
M edical c a r e ............................
R e c re a tio n ................................
O th e r .........................................
Gross private domestic
investment.................................
Fixed investm ent..........................
N o n re s id e n tia l.........................
S tru c tu re s ............................
Equ ip m en t and softw are
Inform ation processing
e qu ip m en t and
s o ftw a re ......................
C om p ute rs and
p eripheral
e q u ip m e n t.............
S oftw are 1 ..................
O th e r ...........................
In dustrial e q u ip m e n t.....
T ransportation
e q u ip m e n t..................
O th e r e q u ip m e n t...........
R es id e n tia l................................
C hange in private inventories...
S ea son ally adjusted
2008
III
IV
I
116.254 117.349
118.763
118.934
119.201
122.828
121.906 122.331
123.190
123.885
124.191
143.096
115.614
141.680
116.816
142.283
115.961
143.852
114.438
144.572
115.240
142.263
111.141
176.051
130.511
120.051
118.012
131.374
189.710
135.588
122.884
120.736
137.398
185.319
132.153
122.563
120.553
136.061
187.229
134.342
122.419
120.125
136.866
192.081
138.626
123.090
120.516
138.969
194.212
137.231
123.466
121.749
137.695
194.492
135.884
123.367
122.088
138.263
10
11
12
13
14
15
16
17
18
19
20
103.734
125.015
115.696
114.098
105.845
103.643
107.421
99.981
126.634
119.760
113.106
102.451
128.858
118.987
116.808
109.188
109.626
108.774
103.056
130.115
124.486
116.443
103.514
127.942
117.865
115.625
107.686
106.853
108.210
101.621
128.866
123.744
115.666
102.322
128.489
118.527
116.406
108.062
107.182
108.622
102.714
129.608
124.031
116.208
102.168
129.521
119.360
117.132
109.697
110.628
108.915
103.590
130.306
125.090
116.900
101.799
129.480
120.198
118.068
111.307
113.842
109.347
104.301
131.680
125.078
117.000
100.549
129.032
121.090
118.708
113.069
117.568
109.661
104.702
132.844
124.595
118.025
D urable g o o d s ..............................
M otor vehicles and p a r ts ......
Furniture and household
e q u ip m e n t............................
O th e r...........................................
Nondurable g o o d s .......................
F ood............................................
Clothing and s h o e s .................
Gasoline, fuel oil, and other
energy g o o d s .......................
O th e r...........................................
S e rv ic e s .........................................
H o u s in g .....................................
H ousehold o p e ra tio n ..............
E lectricity and g a s .............
O ther household operation
T ra n sp o rta tio n ..........................
M edical c a r e ............................
R e c re a tio n ................................
O th e r...........................................
21
22
23
24
25
110.607 105.187 104.690
105.875
107.172
103.011
101.290
Gross private domestic
investment.................................
111.657
106.062
85.770
114.332
108.369
111.061
96.871
115.842
108.113
107.277
90.241
113.753
108.956
110.109
95.639
115.075
108.756
112.597
99.330
116.821
107.652
114.261
102.274
117.720
105.494
114.191
102.559
117.452
26
127.427
138.032
133.287
136.547
138.731
143.563
145.651
2/
28
29
30
200.789
120.918
107.802
93.939
239.684
128.874
113.315
95.281
226.974
124.834
110.077
9 2.500
233.652
128.068
112.319
96.050
240.216
129.453
114.101
97.955
257.894
133.143
116.764
94.618
268.348
135.242
116.838
95.314
31
32
33
34
96.487
119.025
127.433
84.966
113.514
105.795
90.017
110.340
113.301
84.103
112.810
109.791
84.721
114.494
103.665
81.025
116.410
96.422
77.979
112.516
89.567
1
115.304 117.825
2
3
4
119.359
136.735
113.133
5
6
7
8
9
II
Fixed in ve stm e n t..........................
N onre sid e n tia l..........................
S tru c tu re s ............................
E quipm ent and softw are...
Inform ation processing
equipm ent and
s o ftw a re .......................
C om puters and
peripheral
e q u ip m e n t..............
S oftw are ’ ...................
O th e r ...........................
Industrial e q u ip m e n t.....
T ransportation
e q u ip m e n t...................
O ther e q u ip m e n t............
R e s id e n tia l................................
C hange in private in v e n to rie s ...
F e d e ra l...........................................
N ational defense.....................
C onsum ption expenditures
G ro ss inve stm en t...............
N o n d e fe n s e ..............................
C o nsu m ptio n ex p enditures
G ross inve stm en t...............
S tate and lo c a l..............................
C o n su m ptio n expenditures
G ross in vestm en t....................
116.568
119.668
118.750 119.527
2
3
4
114.675
117.591
116.129
88.857
99.297
87.276
98.726
87.799
98.442
87.488
98.492
87.091
98.899
5
6
7
8
9
73.361
98.449
114.989
115.339
91.337
70.099
99.427
118.398
119.642
90.576
71.408
99.415
115.620
117.664
91.627
70.731
99.374
118.413
119.023
90.407
10
11
12
13
14
15
16
17
18
19
20
171.239
109.793
120.725
120.290
121.482
141.283
110.054
116.964
122.106
118.585
121.063
185.868
111.003
124.556
124.696
124.661
144.347
113.306
119.410
126.438
120.440
124.911
162.011
110.761
123.252
123.333
123.777
144.006
112.105
118.120
125.221
119.100
123.408
21
22
23
24
25
115.090
116.458
115.352
106.961
150.806
94.485
116.637
108.293
155.709
94.857
26
80.699
79.296
2/
28
29
30
44.843
95.459
90.895
111.442
31
32
33
34
II
2008
III
IV
I
119.837
120.560
121.334
117.345 117.873
119.019
120.035
86.726
99.070
86.681
98.725
69.631
99.290
118.751
120.406
9 0.004
68.628
99.628
120.810
121.476
9 0.265
68.336
100.848
122.752
122.920
90.164
190.805
110.725
124.055
124.231
124.807
145.407
112.921
118.707
125.838
120.288
124.191
187.163
110.938
124.921
125.122
124.601
143.318
113.812
120.143
126.687
120.583
125.483
2 03.495
111.588
125.996
126.099
125.459
144.656
114.386
120.670
128.006
121.787
126.562
2 15.994
112.546
126.814
127.005
126.681
146.699
115.110
122.056
128.190
122.812
127.685
116.532
116.426
116.325
116.549 116.253
116.718
108.301
155.637
94.892
116.636
108.293
155.199
95.002
116.498
108.140
155.392
94.751
116.696
108.440
156.609
94.783
116.546
108.481
157.367
94.612
79.840
79.509
79.026
78.809
78.447
40.040
95.881
91.400
115.429
41.934
95.740
91.061
114.150
40.706
95.812
91.356
115.110
39.240
95.840
91.522
115.793
38.281
96.134
91.661
116.663
36.859
96.362
92.031
117.741
110.759
110.906
134.288
112.715
113.299
135.450
112.520
112.718
135.736
113.338
113.166
135.459
112.524
113.486
135.367
112.476
113.828
135.238
111.669
113.823
134.453
38
39
40
41
42
43
112.537
111.118
115.917
115.610
114.178
123.039
116.510
115.171
119.687
119.613
118.278
126.462
114.433
113.220
117.305
115.114
113.550
123.300
115.912
114.624
118.964
118.408
117.064
125.310
116.992
115.533
120.461
120.572
119.256
127.298
118.704
117.306
122.018
124.360
123.243
129.939
121.200
120.209
123.518
128.072
127.247
131.996
44
45
46
47
48
49
50
51
52
53
54
127.334
133.042
130.765
132.527 133.588
135.286 137.575
125.622
127.027
130.776
103.760
122.959
126.083
104.273
128.370
128.822
126.623
129.256
130.681
134.834
105.127
126.553
130.143
105.156
135.316
135.331
135.338
127.886
129.153
133.137
104.564
125.503
128.942
104.988
132.499
132.344
133.194
129.098
130.454
134.637
104.741
126.539
130.150
105.020
134.586
134.602
134.604
130.416
132.049
136.341
105.692
127.293
130.948
105.521
138.209
138.396
137.562
36
'V
38
39
40
41
42
43
118.957
118.234
120.897
130.683
132.446
122.180
128.603
127.603
131.231
133.181
134.586
126.474
123.568
122.091
127.335
133.272
134.755
126.172
125.833
124.072
130.293
132.363
133.770
125.643
131.458
131.498
131.576
133.780
135.360
126.189
133.555
132.750
135.720
133.309
134.458
127.892
134.466
133.244
137.644
132.428
133.234
128.768
E x p o r ts ...........................................
G o o d s ........................................
S e rv ic e s .....................................
Im p o rts ............................................
G o o d s ........................................
S e rv ic e s .....................................
44
45
46
47
48
49
50
51
52
53
54
115.092
117.427 115.865
117.028
118.121
118.693
119.268
Government consumption
expenditures and gross
investment.................................
128.255
132.722
129.575
157.016
120.234
119.543
125.728
108.418
107.966
110.206
130.454
136.400
133.524
158.342
119.721
119.755
120.127
110.816
109.965
114.218
129.756
135.488
132.566
157.839
119.414
119.232
121.363
110.564
109.768
113.740
132.000
138.775
135.626
162.994
119.747
119.816
119.898
111.096
110.126
114.980
132.175
138.592
136.062
157.566
120.583
120.473
122.023
111.857
110.731
116.380
133.598
140.500
137.981
159.351
121.114
120.965
122.840
112.025
111.368
114.613
F ed e ra l............................................
National d e fe n s e .....................
C onsum ption expenditures
G ross inve stm e n t................
N o n d e fe n s e ..............................
C onsum ption expenditures
G ross inve stm e n t................
State and lo c a l..............................
C onsum ption e xpenditures...
G ross in ve stm e n t....................
127.886
132.744
129.843
154.971
119.140
119.498
117.224
109.748
109.235
111.772
1. Excludes software “embedded," or bundled, in computers and other equipment.
1
2007
Net exports of goods and
‘M
Government consumption
expenditures and gross
investment.................................
2007
I
Gross domestic product....
Personal consumption
expenditures............................
36
Net exports of goods and
E x p o rts ...........................................
G o o d s ........................................
S e rv ic e s ....................................
Im p o rts ...........................................
G o o d s ........................................
S e rv ic e s ...................................
2006
Line
1. Excludes software “embedded,” or bundled, in computers and other equipment.
129.622
131.069
135.222
105.511
126.876
130.532
105.095
135.969
135.984
135.991
132.360
133.937
138.404
106.561
129.354
133.348
105.627
140.706
141.180
138.936
June
2008
S urvey
of
C u r r e n t B u s in e s s
D -1 1
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
I
G ross dom estic product....
Personal consum ption
expen d itu res............................
Durable goods...........................
Motor vehicles and parts......
Furniture and household
equipment..........................
O th er......................................
Nondurable goods.....................
Food.......................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
O th er......................................
Services......................................
Housing..................................
Household operation............
Electricity and g a s............
Other household operation
Transportation........................
Medical care..........................
Recreation..............................
O th er......................................
G ross private dom estic
investm ent.................................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Information processing
equipment and
software.....................
Computers and
peripheral
equipment............
Software 1................
O ther.........................
Industrial equipment....
Transportation
equipment................
Other equipm ent..........
Residential.............................
Change in private inventories...
Farm ........................................
Nonfarm..................................
Net exports o f goods and
service s.....................................
Exports.......................................
Goods.....................................
Services.................................
Im ports.......................................
Goods.....................................
Services.................................
G overnment consum ption
expenditures and gross
investm ent.................................
Federal.......................................
National defense....................
Consumption expenditures
Gross investment..............
Nondefense...........................
Consumption expenditures
Gross investment..............
State and local...........................
Consumption expenditures...
Gross investment..................
II
Seasonally adjusted at annual rates
2008
Ill
IV
Line
2006
2007
I
1 13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
2
3
4
9,224.5
1,048.9
434.2
9,734.2
1,078.2
441.2
9,540.5
1,074.0
444.5
9,674.0
1,074.7
441.5
9,785.7
1,081.6
437.5
9,936.6 10,046.2
1,082.5 1,064.7
424.1
441.3
5
6
7
8
9
404.1
210.6
2,688.0
1,259.3
357.2
416.1
221.0
2,833.2
1,336.4
370.5
414.2
215.3
2,759.4
1,312.2
371.1
414.5
218.8
2,822.7
1,322.7
368.4
418.6
225.6
2,846.3
1,342.4
372.4
417.1
224.1
2,904.5
1,368.2
370.0
416.0
224.6
2,948.8
1,388.3
371.1
10
11
12
13
14
15
16
17
18
19
20
340.1
731.4
5,487.6
1,381.3
501.6
209.8
291.8
340.6
1,587.7
381.0
1,295.3
364.2
762.2
5,822.8
1,465.9
531.1
226.9
304.2
358.4
1,689.3
402.2
1,375.8
320.9
755.1
5,707.1
1,435.1
520.0
220.6
299.4
349.6
1,656.9
395.3
1,350.1
373.6
758.1
5,776.5
1,455.4
526.2
223.5
302.7
355.1
1,674.6
400.2
1,365.0
365.9
765.6
5,857.8
1,474.9
533.3
227.3
305.9
362.5
1,695.0
404.6
1,387.5
396.4
769.9
5,949.7
1,498.3
544.8
236.1
308.7
366.6
1,730.7
408.6
1,400.6
415.6
773.8
6,032.7
1,517.3
558.8
247.3
311.5
372.2
1,748.5
410.5
1,425.4
21
22
23
24
25
2,209.2
2,162.5
1,397.7
405.1
992.6
2,125.4
2,122.4
1,481.8
472.1
1,009.7
2,117.3
2,118.9
1,431.4
439.6
991.8
2,139.1
2,133.9
1,469.1
464.5
1,004.5
2,162.9
2,127.5
1,500.1
483.1
1,017.1
2,082.1
2,109.5
1,526.5
501.3
1,025.3
2,041.3
2,064.5
1,526.2
505.1
1,021.1
26
480.9
511.7
497.6
507.7
512.6
529.0
534.3
2/
28
29
30
91.3
203.3
186.2
166.7
97.3
217.7
196.8
175.1
96.6
210.5
190.5
168.1
96.6
216.1
195.0
176.0
95.7
218.5
198.4
180.6
100.2
225.5
203.4
175.7
100.4
229.6
204.3
178.7
31
32
33
34
35
36
171.9
173.2
764.8
46.7
-1.2
47.8
154.0
168.8
640.7
2.9
3.4
-0.5
162.9
163.2
687.5
-1.6
5.5
-7.0
153.3
167.5
664.8
5.1
4.0
1.1
153.3
170.5
627.3
35.4
3.8
31.6
146.6
173.9
582.9
-27.4
0.3
-27.7
140.1
168.1
538.4
-23.3
-3.7
-19.6
3/
38
39
40
41
42
43
-762.0
1,467.6
1,030.5
437.1
2,229.6
1,880.4
349.2
-708.0
1,643.0
1,152.9
490.1
2,351.0
1,979.4
371.6
-714.2
1,549.9
1,084.0
465.9
2,264.0
1,902.7
361.4
-714.2
1,598.7
1,115.2
483.5
2,312.9
1,947.2
365.7
-694.7
1,685.7
1,191.3
494.4
2,380.4
2,007.3
373.2
-708.9
1,737.7
1,221.1
516.5
2,446.6
2,060.5
386.0
-716.6
1,786.3
1,256.0
530.3
2,502.9
2,108.1
394.8
44
45
46
47
48
49
50
51
52
53
54
2,523.0
932.5
624.3
544.8
79.5
308.2
268.0
40.2
1,590.5
1,276.5
314.0
2,689.8
976.0
660.1
578.9
81.2
315.9
277.2
38.7
1,713.8
1,365.9
347.9
2,608.3
946.6
634.8
555.7
79.1
311.7
274.0
37.7
1,661.7
1,326.7
335.0
2,670.0
969.5
654.5
573.8
80.7
315.0
276.0
39.1
1,700.5
1,355.9
344.5
2,716.5
990.3
673.5
589.6
83.9
316.8
278.1
38.6
1,726.2
1,374.3
351.9
2,764,4
997.7
677,7
596.4
81.3
320.0
280.5
39.5
1,766.7
1,406.4
360.3
2,824.7
1,023.4
696.8
613.9
82.9
326.6
286.9
39.8
1,801.3
1,442.9
358.4
2007
I
Gross dom estic p ro d u c t....
Personal consum ption
e xp e n d itu re s............................
Durable g oods...........................
Motor vehicles and p a rts.....
Furniture and household
equipment..........................
Other.......................................
Food........................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
Other.......................................
Services......................................
Housing...................................
Household operation.............
Electricity and g a s ............
Other household operation
Transportation........................
Medical ca re ..........................
Recreation..............................
Other.......................................
Gross private dom estic
investm ent.................................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Information processing
equipment and
software.....................
Computers and
peripheral
equipm ent1..........
Software 2..................
Other..........................
Industrial equipment....
Transportation
equipment..................
Other equipment...........
Residential..............................
Change in private inventories...
Farm .......................................
Nonfarm..................................
Net exports o f goods and
se rv ic e s .....................................
E xports.......................................
G oods.....................................
Services..................................
Imports
G oods.....................................
Services..................................
Government consum ption
expenditures and gross
investm ent.................................
Federal........................................
National defense....................
Consumption expenditures
Gross investment..............
Nondefense...........................
Consumption expenditures
Gross investment..............
State and local...........................
Consumption expenditures...
Gross investment...................
Residual...........................................
II
2008
III
IV
I
1 11,319.4 11,566.8 11,412.6 11,520.1 11,658.9 11,675.7 11,701.9
2
3
4
8,044.1
1,180.5
437.3
8,277.8
1,235.4
446.9
8,215.7
1,223.2
451.5
8,244.3
1,228.4
448.2
8,302.2
1,241.9
442.3
8,349.1
1,248.1
445.4
8,369.7
1,228.2
429.6
5
6
7
8
9
550.9
213.9
2,337.7
1,091.8
391.1
593.6
222.2
2,392.8
1,117.0
409.1
579.9
216.6
2,386.6
1,115.3
405.1
585.9
220.2
2,383.8
1,111.4
407.5
601.0
227.2
2,396.8
1,115.0
413.7
607.7
224.9
2,404.2
1,126.4
409.9
608.6
222.7
2,402.2
1,129.5
411.6
10
11
12
13
14
15
16
17
18
19
20
198.6
666.2
4,545.5
1,148.3
412.9
148.5
265.1
291.2
1,300.3
321.3
1,069.9
196.2
686.6
4,674.8
1,175.6
426.0
157.1
268.5
300.2
1,336.0
334.0
1,101.5
198.2
681.7
4,630.7
1,163.7
420.1
153.1
267.1
296.0
1,323.2
332.0
1,094.1
195.9
684.7
4,656.7
1,171.6
421.6
153.6
268.1
299.2
1,330.8
332.7
1,099.3
195.6
690.2
4,689.5
1,178.9
427.9
158.5
268.8
301.7
1,338.0
335.6
1,105.8
194.9
689.9
4,722.4
1,188.3
434.2
163.1
269.9
303.8
1,352.1
335.5
1,106.8
192.5
687.6
4,757.4
1,194.7
441.1
168.5
270.7
304.9
1,364.1
334.2
1,116.4
21
22
23
24
25
1,919.5
1,874.7
1,306.8
268.6
1,050.6
1,825.5
1,819.5
1,368.4
303.4
1,064.5
1,816.9
1,815.2
1,321.7
282.6
1,045.3
1,837.4
1,829.3
1,356.6
299.5
1,057.4
1,859.9
1,826.0
1,387.3
311.1
1,073.5
1,787.7
1,807.5
1,407.8
320.3
1,081.7
1,757.9
1,771.2
1,406.9
321.2
1,079.3
26
595.9
645.5
623.3
638.5
648.7
671.3
681.1
71
28
29
30
213.0
204.8
149.6
227.0
215.3
151.7
219.9
209.2
147.3
225.6
213.4
152.9
228.0
216.8
156.0
234.5
221.9
150.6
238.2
222.0
151.8
31
32
33
34
35
36
155.2
156.2
569.5
40.3
-0.9
41.7
136.7
148.9
472.8
4.5
3.7
0.0
144.8
144.8
506.3
0.1
5.0
-5.8
135.3
148.0
490.7
5.8
3.6
1.3
136.3
150.2
463.3
30.6
4.1
26.0
130.3
152.7
430.9
-18.3
2.2
-21.7
125.4
147.6
400.3
-14.4
-0.9
-13.6
37
38
39
40
41
42
43
-624.5
1,304.1
927.4
377.1
1,928.6
1,646.9
283.8
-555.6
1,409.9
1,000.8
409.4
1,965.4
1,673.5
293.8
-612.1
1,354.7
957.6
397.2
1,966.8
1,675.6
293.1
-573.9
1,379.5
973.1
406.4
1,953.4
1,663.4
291.9
-533.1
1,441.2
1,031.4
410.4
1,974.3
1,683.2
293.1
-503.2
1,464.1
1,041.2
423.4
1,967.3
1,671.9
297.1
-480.2
1,474.1
1,045.1
429.4
1,954.3
1,656.7
299.1
44
45
46
47
48
49
50
51
52
53
54
55
1,981.4
742.3
491.5
416.6
76.6
250.7
212.6
38.5
1,239.0
990.9
248.0
-93.4
2,021.6
755.0
505.1
429.3
77.3
249.6
213.0
36.8
1,266.4
1,009.2
257.0
-145.8
1,994.7
740.2
491.6
417.4
75.6
248.4
212.5
35.9
1,254.2
1,002.5
251.5
-130.7
2,014.8
751.0
501.7
426.2
77.0
248.9
212.0
37.2
1,263.5
1,007.4
256.0
-136.3
2,033.6
764.0
513.9
436.0
79.6
249.6
213.1
36.8
1,269.6
1,010.7
258.8
-149.4
2,043.4
765.0
513.2
437.4
76.9
251.4
214.2
37.4
1,278.3
1,016.3
261.9
-165.9
2,053.3
773.2
520.3
443.6
77.8
252.5
215.1
37.7
1,280.2
1,022.1
257.9
-170.8
1. Excludes software “embedded,” orbund ed, in comf uters and ther equiprnent.
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.
D -1 2
June 2008
N a t io n a l D a t a
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
I
G ross dom estic p urch a se s...
Personal consum ption
e xp en d itu res............................
Durable goods...........................
Motor vehicles and parts.....
Furniture and household
equipment..........................
O th er......................................
Nondurable goods.....................
Food........................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
O ther......................................
S ervices.....................................
Housing..................................
Household operation............
Electricity and g as............
Other household operation
Transportation........................
Medical care..........................
Recreation..............................
O ther......................................
Gross private dom estic
investm ent.................................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Information processing
equipment and
software.....................
Computers and
peripheral
equipment............
Software 1................
O ther.........................
Industrial equipment....
Transportation
equipm ent................
Other equipm ent..........
Residential..............................
Change in private inventories...
G overnm ent consum ption
expenditures and gross
investm ent.................................
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
com puters.....................
Food...................................
Energy goods and
services.........................
Gross domestic product
excluding food and
energy ...........................
Final sales of domestic product
Final sales to domestic
purchasers..............................
II
2008
III
IV
Line
2006
2007
I
1 116.920 120.068 118.702 119.809 120.330 121.432 122.471
2 114.675 117.591 116.129 117.345 117.873 119.019 120.035
3 88.857 87.276 87.799 87.488 87.091 86.726 86.681
4 99.297 98.726 98.442 98.492 98.899 99.070 98.725
5 73.361 70.099 71.408 70.731 69.631 68.628 68.336
6 98.449 99.427 99.415 99.374 99.290 99.628 100.848
7 114.989 118.398 115.620 118.413 118.751 120.810 122.752
8 115.339 119.642 117.664 119.023 120.406 121.476 122.920
9 91.337 90.576 91.627 90.407 90.004 90.265 90.164
10
11
12
13
14
15
16
17
18
19
20
171.239
109.793
120.725
120.290
121.482
141.283
110.054
116.964
122.106
118.585
121.063
185.868
111.003
124.556
124.696
124.661
144.347
113.306
119.410
126.438
120.440
124.911
162.011
110.761
123.252
123.333
123.777
144.006
112.105
118.120
125.221
119.100
123.408
190.805
110.725
124.055
124.231
124.807
145.407
112.921
118.707
125.838
120.288
124.191
187.163
110.938
124.921
125.122
124.601
143.318
113.812
120.143
126.687
120.583
125.483
203.495
111.588
125.996
126.099
125.459
144.656
114.386
120.670
128.006
121.787
126.562
215.994
112.546
126.814
127.005
126.681
146.699
115.110
122.056
128.190
122.812
127.685
21
22
23
24
25
115.090
115.352
106.961
150.806
94.485
116.458
116.637
108.293
155.709
94.857
116.532
116.718
108.301
155.637
94.892
116.426
116.636
108.293
155.199
95.002
116.325
116.498
108.140
155.392
94.751
116.549
116.696
108.440
156.609
94.783
116.253
116.546
108.481
157.367
94.612
26
80.699
79.296
79.840
79.509
79.026
78.809
78.447
2 / 44.843 40.040 41.934 40.706 39.240 38.281 36.859
28 95.459 95.881 95.740 95.812 95.840 96.134 96.362
29 90.895 91.400 91.061 91.356 91.522 91.661 92.031
30 111.442 115.429 114.150 115.110 115.793 116.663 117.741
31 110.759 112.715 112.520 113.338 112.524 112.476 111.669
32 110.906 113.299 112.718 113.166 113.486 113.828 113.823
33 134.288 135.450 135.736 135.459 135.367 135.238 134.453
34
'iS
3/
38
39
40
41
42
43
44
45
46
47
127.334
125.622
127.027
130.776
103.760
122.959
126.083
104.273
128.370
128.822
126.623
133.042
129.256
130.681
134.834
105.127
126.553
130.143
105.156
135.316
135.331
135.338
130.765
127.886
129.153
133.137
104.564
125.503
128.942
104.988
132.499
132.344
133.194
132.527
129.098
130.454
134.637
104.741
126.539
130.150
105.020
134.586
134.602
134.604
133.588
129.622
131.069
135.222
105.511
126.876
130.532
105.095
135.969
135.984
135.991
135.286
130.416
132.049
136.341
105.692
127.293
130.948
105.521
138.209
138.396
137.562
137.575
132.360
133.937
138.404
106.561
129.354
133.348
105.627
140.706
141.180
138.936
48
38.284
34.151
35.863
34.841
33.498
32.402
31.477
49 118.426 121.798 120.333 121.505 122.091 123.265 124.370
50 115.165 119.617 117.588 118.964 120.363 121.551 122.795
51 161.360 171.410 157.229 173.873 171.574 182.965 193.024
52 115.203 117.927 117.156 117.600 118.141 118.811 119.454
53 116.568 119.668 118.750 119.527 119.837 120.560 121.334
54 117.760 121.048 120.049 120.873 121.246 122.026 122.841
55 115.475 120.542 118.280 119.685 121.262 122.943 124.936
56 135.390 140.200 138.970 148.177 136.767 136.889 139.234
5 / 116.118 118.956 118.192 118.658 119.171 119.805 120.396
58 116.603 119.692 118.773 119.555 119.860 120.579 121.374
59 116.956 120.093 118.727 119.838 120.355 121.452 122.511
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
Seasonally adjusted at annual rates
2007
I
Gross dom estic purchases ...
Personal consum ption
e xp e n d itu re s............................
Durable g oods...........................
Motor vehicles and p a rts......
Furniture and household
equipment..........................
Other.......................................
Nondurable g oods.....................
Food........................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
Other.......................................
Services......................................
Housing...................................
Household operation.............
Electricity and g a s ............
Other household operation
Transportation........................
Medical ca re ..........................
Recreation.............................
Other.......................................
Gross private dom estic
investm ent.................................
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...
Governm ent consum ption
expenditures and gross
investm ent.................................
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..............................
II
2008
III
IV
I
1
3.3
2.7
3.8
3.8
1.8
3.7
3.5
2
3
4
2.8
-1.3
0.7
2.5
-1.8
-0.6
3.5
-1.9
-1.8
4.3
-1.4
0.2
1.8
-1.8
1.7
3.9
-1.7
0.7
3.5
-0.2
-1.4
5
6
7
8
9
-4.5
0.8
3.1
2.3
-0.4
-4.4
1.0
3.0
3.7
-0.8
-3.9
2.1
5.0
4.8
0.6
-3.7
-0.2
10.0
4.7
-5.2
-6.1
-0.3
1.1
4.7
-1.8
-5.6
1.4
7.1
3.6
1.2
-1.7
5.0
6.6
4.8
-0.4
10
11
12
13
14
15
16
17
18
19
20
13.0
1.9
3.4
3.6
5.2
8.9
2.6
3.8
2.9
3.0
3.2
8.5
1.1
3.2
3.7
2.6
2.2
3.0
2.1
3.5
1.6
3.2
17.6
2.7
3.8
3.6
7.3
13.9
2.8
0.6
5.8
0.6
1.9
92.4
-0.1
2.6
2.9
3.4
3.9
2.9
2.0
2.0
4.1
2.6
-7.4
0.8
2.8
2.9
-0.7
-5.6
3.2
4.9
2.7
1.0
4.2
39.7
2.4
3.5
3.2
2.8
3.8
2.0
1.8
4.2
4.1
3.5
26.9
3.5
2.6
2.9
4.0
5.8
2.6
4.7
0.6
3.4
3.6
21
22
23
24
25
3.5
3.5
3.1
11.7
0.0
1.2
1.1
1.2
3.3
0.4
2.0
1.9
1.9
4.1
1.0
-0.4
-0.3
0.0
-1.1
0.5
-0.3
-0.5
-0.6
0.5
-1.1
0.8
0.7
1.1
3.2
0.1
-1.0
-0.5
0.2
2.0
-0.7
26
-2.2
-1.7
-1.5
-1.6
-2.4
-1.1
-1.8
2/
28
29
30
-12.8
1.3
-0.3
3.0
-10.7
0.4
0.6
3.6
-8.5
0.0
0.6
4.6
-11.2
0.3
1.3
3.4
-13.6
0.1
0.7
2.4
-9.4
1.2
0.6
3.0
-14.1
1.0
1.6
3.7
31
32
33
34
SS
3fi
0.8
2.3
4.4
1.8
2.2
0.9
4.2
1.5
2.0
2.9
1.6
-0.8
-2.8
1.1
-0.3
-0.2
1.2
-0.4
-2.8
0.0
-2.3
3/
38
39
40
41
42
43
44
45
46
4/
4.9
3.9
4.1
4.4
2.0
3.5
3.7
1.9
5.4
5.2
6.4
4.5
2.9
2.9
3.1
1.3
2.9
3.2
0.8
5.4
5.1
6.9
6.4
5.3
5.0
5.7
0.3
5.9
6.7
0.5
7.0
6.1
10.9
5.5
3.8
4.1
4.6
0.7
3.3
3.8
0.1
6.5
7.0
4.3
3.2
1.6
1.9
1.7
3.0
1.1
1.2
0.3
4.2
4.2
4.2
5.2
2.5
3.0
3.4
0.7
1.3
1.3
1.6
6.8
7.3
4.7
6.9
6.1
5.8
6.2
3.3
6.6
7.5
0.4
7.4
8.3
4.1
48
-13.8
-10.8
-7.5
-10.9
-14.5
-12.5
-10.9
49
50
51
3.5
2.3
11.5
2.8
3.9
6.2
3.9
5.0
14.9
4.0
4.8
49.6
1.9
4.8
-5.2
3.9
4.0
29.3
3.6
4.2
23.9
52
53
2.9
3.2
2.4
2.7
3.1
4.2
1.5
2.6
1.9
1.0
2.3
2.4
2.2
2.6
54
55
3.3
2.2
2.8
4.4
4.3
5.8
2.8
4.8
1.2
5.4
2.6
5.7
2.7
6.6
56
7.2
3.6
30.2
29.3
-27.4
0.4
7.0
5/
58
3.1
3.2
2.4
2.6
3.3
4.2
1.6
2.7
1.7
1.0
2.1
2.4
2.0
2.7
59
3.3
2.7
3.8
3.8
1.7
3.7
3.5
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
June 2008
S urvey
D -1 3
C u r r e n t B u s in e s s
of
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
Line
2006
2007
2007
I
Percent change at annual rate:
Gross dom estic p urch a se s...
Percentage points at annual
rates:
Personal consum ption
exp en d itu res............................
Durable goods...........................
Motor vehicles and parts.....
Furniture and household
equipment..........................
O th er......................................
Nondurable goods.....................
Food.......................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods.....................
O ther......................................
S ervices.....................................
Housing..................................
Household operation............
Electricity and g as............
Other household operation
Transportation........................
Medical care..........................
Recreation.............................
O th er......................................
G ross private dom estic
investm ent.................................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Information processing
equipment and
software.....................
Computers and
peripheral
equipment............
Software 1................
O ther.........................
Industrial equipment....
Transportation
equipment................
Other equipm ent..........
Residential..............................
Chanqe in private inventories...
Farm ........................................
Nonfarm..................................
G overnm ent consum ption
expenditures and gross
investm ent.................................
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..............................
F ood............................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
II
IV
III
Line
I
2006
2007
2007
I
1
3.3
2.7
3.8
3.8
1.8
3.7
3.5
2
3
4
1.83
-0.10
0.02
1.70
-0.14
-0.02
2.32
-0.14
-0.06
2.84
-0.11
0.01
1.21
-0.13
0.05
2.64
-0.12
0.02
2.32
-0.01
-0.04
5
6
7
8
9
-0.14
0.01
0.59
0.21
-0.01
-0.13
0.02
0.58
0.34
-0.02
-0.12
0.03
0.96
0.44
0.02
-0.11
0.00
1.89
0.43
-0.14
-0.18
-0.01
0.22
0.42
-0.05
-0.16
0.02
1.37
0.33
0.03
-0.05
0.07
1.28
0.45
-0.01
10
11
12
13
14
15
16
17
18
19
20
0.29
0.10
1.35
0.35
0.19
0.13
0.05
0.09
0.33
0.08
0.30
0.20
0.06
1.26
0.36
0.10
0.03
0.06
0.05
0.41
0.04
0.30
0.37
0.14
1.49
0.36
0.26
0.20
0.06
0.02
0.66
0.02
0.18
1.60
-0.01
1.06
0.30
0.12
0.06
0.06
0.05
0.23
0.11
0.24
-0.20
0.04
1.12
0.29
-0.02
-0.09
0.07
0.12
0.31
0.03
0.39
0.88
0.12
1.40
0.32
0.10
0.06
0.04
0.04
0.49
0.11
0.33
0.66
0.18
1.06
0.30
0.15
0.09
0.05
0.12
0.07
0.09
0.34
21
22
23
24
25
0.56
0.55
0.30
0.31
0.00
0.18
0.17
0.12
0.10
0.03
0.30
0.29
0.19
0.13
0.07
-0.05
-0.04
0.00
-0.04
0.03
-0.05
-0.07
-0.06
0.02
-0.07
0.12
0.10
0.12
0.11
0.01
-0.14
-0.07
0.02
0.07
-0.05
26
-0.08
-0.06
-0.05
-0.06
-0.09
-0.04
-0.07
27
28
29
30
-0.09
0.02
0.00
0.04
-0.08
0.01
0.01
0.04
-0.06
0.00
0.01
0.05
-0.08
0.00
0.02
0.04
-0.10
0.00
0.01
0.03
-0.07
0.02
0.01
0.04
-0.10
0.01
0.02
0.04
31
32
33
34
35
36
0.01
0.03
0.25
0.01
0.00
0.01
0.02
0.03
0.05
0.01
0.01
0.01
0.05
0.02
0.10
0.01
0.01
0.00
0.03
0.02
-0.04
-0.01
0.01
-0.02
-0.03
0.01
-0.01
0.02
0.01
0.01
0.00
0.01
-0.02
0.02
0.01
0.00
-0.03
0.00
-0.09
-0.07
0.01
-0.07
37
38
39
40
41
42
43
44
45
46
47
0.87
0.26
0.18
0.17
0.01
0.08
0.07
0.01
0.61
0.47
0.14
0.81
0.19
0.13
0.12
0.01
0.06
0.06
0.00
0.62
0.46
0.16
1.15
0.35
0.23
0.22
0.00
0.13
0.13
0.00
0.80
0.56
0.24
1.00
0.26
0.18
0.18
0.00
0.07
0.07
0.00
0.74
0.64
0.10
0.59
0.11
0.09
0.07
0.02
0.02
0.02
0.00
0.48
0.39
0.10
0.96
0.17
0.14
0.14
0.00
0.03
0.02
0.00
0.79
0.68
0.11
1.28
0.41
0.27
0.25
0.02
0.14
0.14
0.00
0.87
0.78
0.10
Gross dom estic p ro d u c t............
Plus: Income receipts from the
rest of the w orld .........................
Less: Income payments to the rest
of the w orld.................................
Equals: G ross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national p ro d u ct....
Addenda:
Gross domestic income 1 .........
Gross national income 2...........
Net domestic product................
Net domestic income 3 .............
1
2.9
2.2
2
23.3
15.2
3
4
5
6
7
8
29.2
2.8
-3.1
-4.0
1.4
3.0
11.1
2.4
2.8
2.9
2.8
2.8
9
10
-5.9
3.6
2.5
2.4
11
12
13
14
3.1
2.9
3.8
4.0
1.9
2.1
2.1
1.8
II
2008
III
IV
3.8
4.9
6.5
32.3
5.7
0.7
2.2
2.1
2.7
2.7
30.6
4.0
2.1
2.0
2.7
2.8
2.6
0.4
1.2
1.2
0.4
1.0
0.6
I
0.6
0.9
20.1
-7.0
-24.7
4.0
5.8
2.1
1.9
2.8
2.8
-28.5
1.9
2.0
1.8
2.9
3.0
-32.1
1.1
1.9
1.7
3.0
3.1
2.4
4.3
2.5
6.3
2.5
1.8
2.4
1.0
3.0
3.2
4.1
3.2
1.2
2.1
5.3
1.1
-0.2
1.1
0.4
-0.5
0.3
0.5
0.8
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
Line
2006
2007
2007
I
Gross dom estic p ro d u c t............
Plus: Income receipts from the
rest of the w orld.........................
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 p ro d u ct....
Addendum :
Net domestic product................
II
2008
III
IV
I
1 115.304 117.825 116.254 117.349 118.763 118.934 119.201
2 155.442 179.109 166.717 178.785 187.160 183.775 171.202
3
4
5
6
7
8
158.157
115.363
121.874
122.859
116.866
116.517
175.673
118.179
125.327
126.362
120.089
119.789
169.662
116.344
124.364
125.458
118.861
118.535
181.385
117.493
125.007
126.066
119.664
119.354
183.181
119.163
125.651
126.672
120.485
120.191
168.464
119.716
126.284
127.253
121.348
121.077
152.938
120.037
126.883
127.785
122.250
122.012
9 118.827 121.793 120.696 121.414 122.159 122.902 123.637
10 114.482 117.217 115.270 116.484 118.286 118.828 119.114
11 114.412 116.813 115.164 116.317 117.831
117.942 118.166
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
-0.08
-0.12
-0.17
-0.14
-0.12
Seasonally adjusted
Line
49
50
51
3.42
0.21
0.53
2.82
0.38
0.31
3.85
0.47
0.65
3.91
0.44
2.02
1.92
0.44
-0.27
3.85
0.38
1.37
3.59
0.39
1.21
52
2.52
2.01
2.65
1.32
1.58
1.97
1.86
1. Excludes software “embedded," or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
Seasonally adjusted at annual rates
2008
2006
2007
2007
I
Gross dom estic p ro d u c t............
Plus: Income receipts from the
rest of the w orld .........................
Less: Income payments to the rest
of the w o rld .................................
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national p ro d u ct....
Addendum :
Net domestic product................
II
2008
III
IV
I
1 116.568 119.668 118.750 119.527 119.837 120.560 121.334
2 116.245 119.268 117.928 119.034 119.487 120.625 121.659
3
4
5
6
7
8
116.520
116.558
111.573
110.688
116.300
115.342
119.564
119.659
113.294
111.702
121.710
120.714
118.172
118.740
113.107
111.777
120.141
119.183
119.284
119.518
113.371
111.864
121.345
120.401
119.844
119.824
113.289
111.608
122.180
121.151
120.957
120.552
113.408
111.561
123.176
122.121
122.093
121.324
113.503
111.459
124.304
123.229
9 121.352 126.964 125.194 126.317 127.604 128.742 129.977
10 117.275 120.572 119.546 120.400 120.762 121.580 122.450
11 117.288 120.587 119.561 120.414 120.782 121.594 122.468
D -14
June 2008
N a t io n a l D a t a
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 (200 0) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
Gross dom estic p ro d u c t...............
Plus: Income receipts from the rest
of the world....................................
Less: Income payments to the rest
of the world....................................
Equals: G ross national p ro d u c t...
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 pro d u ct........
Less: Statistical d iscrepancy.......
Equals: National incom e...............
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.............................
Equals: Personal in co m e ..............
Addenda:
Gross domestic income...............
Gross national income.................
Gross national factor income 1....
Net domestic product...................
Net domestic income....................
Net national factor income 2
II
III
IV
691.4
817.5
752.2
814.2
855.6
848.1
796.8
754.4
700.2
641.6
633.4
721.8
689.0
743.5
3
4 13,252.7 13,937.1 13,615.1 13,839.4 14,071.6 14,222.1 14,350.8
5 1,615.2 1,686.6 1,670.9 1,683.4 1,690.9 1,701.1 1,710.7
6 1,347.5 1,398.7 1,389.6 1,397.4 1,400.9 1,406.7 1,411.3
7 1,081.4 1,119.1 1,112.6 1,118.3 1,120.6 1,124.8 1,128.9
8
945.2
972.1
968.6
970.7
973.1
976.0
1,190.3
9
-136.1
-147.0
-144.0
-147.7
-147.5
-148.8
61.4
10
11
12
266.1
267.7
223.6
279.6
287.9
240.6
277.1
281.3
235.0
279.1
286.0
239.1
280.3
290.0
242.3
282.0
294.4
246.0
282.5
299.3
250.1
49.2
46.2
47.7
48.4
44.1
47.3
46.9
13
14 11,637.5 12,250.5 11,944.2 12,156.0 12,380.8 12,520.9 12,640.1
22.4
132.9
-66.3
-40.8
84.8
112.0
15
-18.1
16 11,655.6 12,228.0 12,010.5 12,196.8 12,296.0 12,408.9 12,507.2
17
1,553.7
1,595.2
1,547.7
1,642.4
1,621.9
1,569.0
1,574.2
18
917.6
961.4
943.8
956.8
967.8
977.3
985.8
19
927.6
979.9
969.8
972.2
983.2
994.1
1,015.9
2007
20
598.5
602.6
599.6
592.4
599.3
619.0
614,9
2007
II
I
Gross dom estic p ro d u c t............
Plus: Income receipts from the
rest of the w orld.........................
Less: Income payments to the rest
of the w orld.................................
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national p ro d u ct....
Addenda:
Gross domestic income 1 .........
Gross national income 2...........
Net domestic product................
Net domestic income 3 .............
2008
III
IV
I
1 11,319.4 11,566.8 11,412.6 11,520.1 11,658.9 11,675.7 11,701.9
2
595.0
685.6
638.2
684.3
716.3
703.4
655.3
603.8
583.2
623.5
579.1
525.7
3
543.6
629.6
4 11,370.1 11,647.6 11,466.7 11,580.0 11,744.6 11,799.1 11,830.7
5 1,447.7 1,488.7 1,477.2 1,484.9 1,492.5 1,500.0 1,507,2
6 1,217.3 1,252.1 1,243.1 1,249.1 1,255.1 1,260.9 1,266.2
230.2
234.1
235.7
7
236.6
237.3
239.0
240.8
197.2
8
193.9
199.3
198.6
201.5
203.0
200.0
9
10
36.4
37.3
9,923.4 10,160.4
37.1
36.9
37.4
37.6
37.8
9,991.7 10,096.9 10,253.1 10,300.1 10,324.9
11 11,335.0 11,548.1 11,468.5 11,554.2 11,588.2 11,582.8
12 11,385.6 11,628.9 11,522.5 11,614.1 11,673.8 11,706.2
13 9,872.8 10,080.0 9,937.7 10,037.2 10,167.8 10,177.4
14 9,888.2 10,061.4 9,993.1 10,071.0 10,097.6 10,085.2
11,592.3
11,721.1
10,196.7
10,088.1
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.
Note. 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
21
90.2
94.2
91.8
92.8
94.4
97.9
101.1
22
-13.9
-14.5
-17.8
-15.0
-12.2
-13.1
-14.4
23
7.5
22.5
0.0
25.0
25.0
40.0
10.0
24
1,796.5
1,947.2
1,882.9
1,930.0
1,976.2
1,999.8
2,012.6
25 1,612.5 1,731.7 1,710.7 1,717.1 1,742.3 1,756.5 1,786.1
26 10,983.4 11,665.6 11,469.2 11,577.3 11,735.0 11,880.9 12,018.4
27
28
29
30
31
32
13,212.8
13,270.8
12,276.9
11,579.5
11,597.6
10,661.7
13,818.9
13,914.6
12,873.5
12,154.8
12,132.3
11,186.9
13,618.2
13,681.4
12,663.7
11,881.0
11,947.3
10,992.8
13,809.5
13,880.2
12,845.6
12,085.4
12,126.1
11,162.2
13,885.7
13,986.9
12,936.9
12,279.6
12,194.8
11,246.0
13,962.1
14,110.0
13,047.9
12,373.0
12,261.0
11,346.7
14,062.6
14,217.8
13,145.3
12,484.9
12,352.0
11,434.6
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.
2006
I
1 13,194.7 13,841.3 13,551.9 13,768.8 13,970.5 14,074.2 14,195.6
2
Line
2008
[Index numbers, 2000=100]
Seasonally adjusted
Line
Gross national p ro d u c t..............
Less: Exports of goods and
services and income receipts
from the rest of the w orld..........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1.........................................
Equals: Com m and-basis gross
national p roduct.......................
Addendum :
Percent change from preceding
period in command-basis
real gross national product...
2006
2007
2007
2008
I
II
III
IV
I
1 115.363
118.179
116.344
117.493
119.163
119.716
120.037
2 128.748
142.117
135.127
139.988
146.346
147.007
144.398
3
126.109
139.142
134.476
137.646
142.832
141.615
137.961
4 114.967
117.732
116.246
117.141
118.636
118.907
119.071
2.4
1.0
3.1
5.2
0.9
0.6
5
2.6
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
I
Gross national p ro d u c t..............
Less: Exports of goods and
services and income receipts
from the rest of the w orld..........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1........................................
Equals: Com m and-basis gross
national p ro d u ct.......................
Addendum :
Terms of trade 2.........................
II
2008
III
IV
I
1 11,370.1 11,647.6 11,466.7 11,580.0 11,744.6 11,799.1 11,830.7
2
1,904.1
2,101.8
1,998.4
2,070.3
2,164.4
2,174.1
2,135.6
3
1,865.1
2,057.9
1,988.9
2,035.8
2,112.5
2,094.5
2,040.4
4 11,331.0 11,603.7 11,457.2 11,545.4 11,692.7 11,719.4 11,735.6
5
97.951
97.947
99.521
98.331
97.602
96.335
95.545
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit
price deflator for imports divided by 100.
Note. 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.
June 2008
Survey
of
D -1 5
C u r r e n t B u s in e s s
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
G ross dom estic in c o m e .......................................................................................................................
Com pensation o f employees, p a id .............................................................................................................
Wage and salary accruals............................................................................................................................
Disbursements..........................................................................................................................................
To persons........
To the rest of the world........................................................................................................................
Wage accruals less disbursements........................................................................................................
Supplements to wages and salaries..........................................................................................................
Taxes on production and im p orts................................................................................................................
Less: S ubsidies...............................................................................................................................................
Net operating s u rp lu s ....................................................................................................................................
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 adjustm ent.......................................................
Corporate profits with inventory valuation and capital consumption adjustments, domestic
industries..............................................................................................................................................
Taxes on corporate income...................................................................................
Profits after tax with inventory valuation and capital consumption adjustm ents.........................
Net dividends......................................................................................................
Undistributed corporate profits with inventory valuation and capital consumption
adjustments.................................................................................................................................
Current surplus of government enterprises..............................................................................................
C onsum ption of fixed ca p ita l.......................................................................................................................
Private............................................................................................................................................................
Government...................................................................................................................................................
Addendum :
Statistical discrepancy.................................................................................................................................
II
2008
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
13,212.8
7,454.8
6,032.2
6,024.7
6,015.3
9.4
7.5
1,422.6
967.3
49.7
3,225.3
3,239.2
791.3
90.2
1,006.7
54.5
13,818.9
7,888.2
6,395.7
6,373.2
6,363.1
10.0
22.5
1,492.5
1,008.5
47.1
3,282.7
3,297.2
837.4
94.2
1,042.6
65.4
13,618.2
7,771.6
6,301.1
6,301.1
6,291.5
9.6
0.0
1,470.5
990.8
47.0
3,231.9
3,249.8
827.6
91.8
1,027.4
53.2
13,809.5
7,833.9
6,350.9
6,325.9
6,315.9
10.0
25.0
1,483.0
1,004.1
47.3
3,335.4
3,350.4
829.3
92.8
1,038.4
62.1
13,885.7
7,914.8
6,414.9
6,389.9
6,379.8
10.1
25.0
1,500.0
1,014.4
46.6
3,312.2
3,324.5
832.0
94.4
1,048.7
68.4
13,962.1
8,032.5
6,515.8
6,475.8
6,465.4
10.4
40.0
1,516.6
1,024.8
47.5
3,251.3
3,264.3
860.5
97.9
1,055.9
77.8
14,062.6
8,118.2
6,577.7
6,567.7
6,557.2
10.5
10.0
1,540.5
1,034.2
48.4
3,247.9
3,262.3
854.0
101.1
1,055.9
78.9
17
18
19
20
1,296.4
453.9
842.5
623.1
1,257.7
466.6
791.0
659.5
1,249.8
452.5
797.3
650.8
1,327.8
490.1
837.6
660.8
1,280.9
469.4
811.5
643.1
1,172.2
454.4
717.8
683.5
1,172.4
417.5
754.9
658.3
21
22
23
24
25
219.4
-13.9
1,615.2
1,347.5
267.7
131.5
-14.5
1,686.6
1,398.7
287.9
146.5
-17.8
1,670.9
1,389.6
281.3
176.8
-15.0
1,683.4
1,397.4
286.0
168.4
-12.2
1,690.9
1,400.9
290.0
34.3
-13.1
1,701.1
1,406.7
294.4
96.5
-14.4
1,710.7
1,411.3
299.3
26
-18.1
22.4
-66.3
-40.8
84.8
112.0
132.9
D-16
June 2008
N a t io n a l D a t a
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
2006
2007
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
11,655.6
7,448.3
6,025.7
1,020.6
5,005.1
1,422.6
970.7
451.8
1,006.7
19.4
987.4
54.5
1,553.7
453.9
1,099.8
698.9
400.9
598.5
967.3
49.7
90.2
27.2
60.6
2.5
-13.9
12,228.0
7,881.1
6,388.6
1,067.8
5,320.8
1,492.5
1,016.8
475.8
1,042.6
36.2
1,006.4
65.4
1,595.2
466.6
1,128.6
795.2
333.5
602.6
1,008.5
47.1
94.2
27.9
66.2
0.2
-14.5
12,010.5
7,764.9
6,294.4
1,051.7
5,242.7
1,470.5
999.2
471.3
1,027.4
29.1
998.3
53.2
1,547.7
452.5
1,095.2
759.4
335.8
599.6
990.8
47.0
91.8
27.6
64.3
-0.1
-17.8
12,196.8
7,826.9
6,343.9
1,061.9
5,281.9
1,483.0
1,010.9
472.1
1,038.4
33.1
1,005.3
62.1
1,642.4
490.1
1,152.2
784.2
368.0
592.4
1,004.1
47.3
92.8
27.8
65.1
0.0
-15.0
12,296.0
7,907.7
6,407.7
1,072.9
5,334.8
1,500.0
1,022.7
477.3
1,048.7
38.6
1,010.0
68.4
1,621.9
469.4
1,152.5
807.7
344.7
599.3
1,014.4
46.6
94.4
28.0
66.4
0.1
-12.2
12,408.9
8,025.0
6,508.4
1,084.7
5,423.7
1,516.6
1,034.3
482.4
1,055.9
43.8
1,012.1
77.8
1,569.0
454.4
1,114.6
829.4
285.2
619.0
1,024.8
47.5
97.9
28.1
69.2
0.6
-13.1
12,507.2
8,110.8
6,570.3
1,103.9
5,466.4
1,540.5
1,048.3
492.2
1,055.9
37.4
1,018.4
78.9
1,574.2
417.5
1,156.6
846.4
310.2
614.9
1,034.2
48.4
101.1
28.1
72.1
0.9
-14.4
26
27
28
29
30
1,290.9
400.9
890.0
-36.3
1,327.2
1,255.1
333.5
921.6
-46.2
1,301.2
1,251.5
335.8
915.7
-40.2
1,291.7
1,288.9
368.0
920.8
-54.7
1,343.6
1,267.8
344.7
923.1
-20.3
1,288.1
1,212.1
285.2
926.9
-69.4
1,281.5
1,241.7
310.2
931.4
-98.7
1,340.3
31
32
33
34
3b
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
1,006.7
19.4
26.4
-7.0
987.4
888.8
-4.0
102.6
54.5
70.4
-15.9
1,553.7
1,769.5
1,805.8
453.9
1,351.9
698.9
653.0
-36.3
-215.8
1,042.6
36.2
42.7
-6.5
1,006.4
901.8
-6.3
110.9
65.4
81.5
-16.1
1,595.2
1,830.5
1,876.7
466.6
1,410.1
795.2
614.9
-46.2
-235.3
1,027.4
29.1
36.1
-7.0
998.3
896.6
-5.6
107.3
53.2
69.5
-16.3
1,547.7
1,775.6
1,815.8
452.5
1,363.3
759.4
603.9
-40.2
-227.9
1,038.4
33.1
39.9
-6.7
1,005.3
903.0
-7.4
109.7
62.1
78.3
-16.2
1,642.4
1,876.8
1,931.5
490.1
1,441.4
784.2
657.2
-54.7
-234.4
1,048.7
38.6
45.0
-6.4
1,010.0
900.4
-2.7
112.3
68.4
84.4
-16.0
1,621.9
1,859.4
1,879.7
469.4
1,410.2
807.7
602.5
-20.3
-237.4
1,055.9
43.8
49.8
-6.0
1,012.1
907.2
-9.5
114.5
77.8
93.6
-15.8
1,569.0
1,810.5
1,879.9
454.4
1,425.5
829.4
596.1
-69.4
-241.5
1,055.9
37.4
43.0
-5.5
1,018.4
874.9
-12.6
156.2
78.9
94.4
-15.5
1,574.2
1,647.9
1,746.6
417.5
1,329.1
846.4
482.7
-98.7
-73.8
Line
2007
I
National in co m e ......................................................................................................................................
Com pensation of e m plo ye e s........................................................................................................................
Wage and salary accruals............................................................................................................................
Government..............................................................................................................................................
O ther..........................................................................................................................................................
Supplements to wages and salaries..........................................................................................................
Employer contributions for employee pension and insurance fu n d s.................................................
Employer contributions for government social insurance....................................................................
P roprietors' incom e w ith IVA and CCAdj
Farm..............................................
Nonfarm .......................................
Rental incom e o f persons with CCAdj
Corporate profits w ith IVA and CCAdj
Taxes on corporate income..........................................................................................................................
Profits after tax with IVA and CCAdj......
Net dividends.......................................
Undistributed profits with IVA and CCAdj..............................................................................................
Net interest and m iscellaneous payments
Taxes on production and im p o rts................................................................................................................
Less: S ubsidies................................................................................................................................................
B usiness current transfer payments (n e t)................................................................................................
To persons (net)............................................................................................................................................
To government (net)......................................................................................................................................
To the rest of the world (net).........................................................................................................................
C urrent surplus o f governm ent e n te rp rise s.............................................................................................
Cash flow :
Net cash flow with IVA and C C A dj..............................................................................................................
Undistributed profits with IVA and CCAdj..............................................................................................
Consumption of fixed capital...................................................................................................................
Less: Inventory valuation adjustment.........................................................................................................
Equals: Net cash flow....................................................................................................................................
Addenda:
Proprietors’ income with IVA and CCAdj....................................................................................................
Farm............................................................................................................................................................
Proprietors’ income with IVA...............................................................................................................
Capital consumption adjustment........................................................................................................
N onfarm .....................................................................................................................................................
Proprietors’ income (without IVA and CCAdj)..................................................................................
Inventory valuation adjustm ent..........................................................................................................
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 IV A ........................................................................................................................
Profits before tax (without IVA and C C A dj).......................................................................................
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............................................................................................................
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
II
2008
III
IV
I
June 2008
S urvey
of
D -1 7
C u r r e n t B u s in e s s
Table 1.14. Gross Value Added of Domestic Corporate Business in Current Dollars and Gross Value Added of Nonfinancial
Domestic Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
I
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.....................................................................................
Gross value added of financial corporate business 1...................................................................
Gross value added o f 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.....................................................................................
Addenda:
Corporate business:
Profits before tax (without IVA and CC A dj)...........................................................................................
Profits after tax (without IVA and CCAdj)..............................................................................................
Inventory valuation adjustment..............................................................................................................
Capital consumption adjustment............................................................................................................
N onfinancial corporate business:
Profits before tax (without IVA and CCAdj)...........................................................................................
Profits after tax (without IVA and CCAdj)..............................................................................................
Inventory valuation adjustment..............................................................................................................
Capital consumption adjustment............................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
2008
III
IV
I
7,860.9
890.0
6,970.9
4,885.0
4,013.5
871.5
634.5
1,451.4
87.7
67.3
1,296.4
453.9
842.5
623.1
219.4
1,171.5
6,689.4
772.8
5,916.6
4,316.7
3,543.8
772.9
584.9
1,015.0
133.2
67.6
814.3
288.2
526.0
448.6
77.4
8,157.4
921.6
7,235.8
5,171.7
4,261.5
910.2
662.3
1,401.8
89.2
55.0
1,257.7
466.6
791.0
659.5
131.5
1,208.3
6,949.1
800.7
6,148.3
4,556.2
3,749.0
807.2
610.5
981.6
137.7
59.7
784.3
311.3
473.0
490.2
-17.2
8,060.1
915.7
7,144.4
5,102.6
4,202.1
900.5
650.5
1,391.4
88.1
53.5
1,249.8
452.5
797.3
650.8
146.5
1,195.1
6,865.0
795.7
6,069.3
4,494.1
3,695.5
798.6
599.7
975.6
136.0
58.5
781.1
298.6
482.5
483.7
-1.2
8,186.1
920.8
7,265.3
5,135.9
4,231.8
904.1
659.4
1,470.0
88.3
54.0
1,327.8
490.1
837.6
660.8
176.8
1,248.1
6,938.0
800.1
6,138.0
4,528.3
3,726.5
801.8
607.8
1,001.8
136.2
59.2
806.4
321.6
484.7
491.1
-6.4
8,198.8
923.1
7,275.7
5,184.5
4,271.1
913.4
666.2
1,425.0
88.8
55.3
1,280.9
469.4
811.5
643.1
168.4
1,225.3
6,973.5
802.0
6,171.6
4,568.5
3,758.5
810.1
614.2
988.8
136.9
60.0
792.0
310.0
482.0
478.0
4.0
8,184.6
926.9
7,257.7
5,263.8
4,341.1
922.7
672.9
1,321.0
91.7
57.1
1,172.2
454.4
717.8
683.5
34.3
1,164.9
7,019.7
805.2
6,214.5
4,633.8
3,815.5
818.3
620.3
960.3
141.5
61.1
757.7
315.1
442.6
508.0
-65.4
8,242.3
931.4
7,310.9
5,307.4
4,370.6
936.9
680.5
1,323.0
91.4
59.1
1,172.4
417.5
754.9
658.3
96.5
1,157.6
7,084.7
809.1
6,275.6
4,684.2
3,853.3
830.9
627.3
964.1
140.8
62.4
760.9
284.4
476.5
489.3
-12.8
32
33
34
35
1,548.5
1,094.6
-36.3
-215.8
1,539.1
1,072.5
-46.2
-235.3
1,517.9
1,065.4
-40.2
-227.9
1,616.9
1,126.7
-54.7
-234.4
1,538.7
1,069.2
-20.3
-237.4
1,483.1
1,028.7
-69.4
-241.5
1,344.9
927.3
-98.7
-73.8
36
37
38
39
1,043.2
755.0
-36.3
-192.7
1,040.6
729.3
-46.2
-210.2
1,024.9
726.3
-40.2
-203.6
1,070.5
748.8
-54.7
-209.4
1,024.5
714.5
-20.3
-212.1
1,042.8
727.7
-69.4
-215.6
926.1
641.8
-98.7
-66.6
6,211.3
711.7
5,499.6
6,260.6
714.5
5,546.0
Value added, in billions of chained (2000) dollars
G ross value added o f nonfinancial corporate business 2............................................................
Consumption of fixed ca p ita l3 ...........................................................................................................
Net value added 4................................................................................................................................
40
41
42
6,011.3
686.9
5,324.5
6,145.2
706.7
5,438.5
6,075.5
701.7
5,373.8
6,119.2
705.1
5,414.1
6,174.9
708.5
5,466.4
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
Price per unit o f real gross value added of nonfinancial corporate business 1..............................
Com pensation o f employees (unit labor c o s t).........................................................................................
Unit nonlabor c o s t..........................................................................................................................................
Consumption of fixed capital........................................................................................................................
Taxes on production and imports less subsidies plus business current transfer paym ents...............
Net interest and miscellaneous payments................................................................................................
C orporate profits w ith IVA and CCAdj (unit profits from current production)..................................
Taxes on corporate income..........................................................................................................................
Profits after tax with IVA and CCAdj...........................................................................................................
1
2
3
4
5
6
7
8
9
2006
1.113
0.718
0.260
0.129
0.109
0.022
0.135
0.048
0.088
2007
1.131
0.741
0.261
0.130
0.109
0.022
0.128
0.051
0.077
2007
I
II
1.130
0.740
0.261
0.131
0.108
0.022
0.129
0.049
0.079
1.134
0.740
0.262
0.131
0.109
0.022
0.132
0.053
0.079
2008
III
1.129
0.740
0.261
0.130
0.109
0.022
0.128
0.050
0.078
IV
1.130
0.746
0.263
0.130
0.110
0.023
0.122
0.051
0.071
I
1.132
0.748
0.261
0.129
0.110
0.022
0.122
0.045
0.076
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 ote. 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
2 .
June 2008
N a t io n a l D a t a
P e r s o n a l In c o m e
a n d
O u tla y s
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
2006
2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
10,983.4
7,440.8
6,018.2
4,997.6
1,020.6
1,422.6
970.7
451.8
1,006.7
19.4
987.4
54.5
1,796.5
1,100.2
696.3
1,612.5
1,585.3
946.4
29.9
39.5
18.2
551.3
27.2
927.6
1,354.3
9,629.1
9,590.3
9,224.5
238.0
127.8
78.9
48.9
38.8
0.4
11,665.6
7,858.6
6,366.1
5,298.3
1,067.8
1,492.5
1,016.8
475.8
1,042.6
36.2
1,006.4
65.4
1,947.2
1,154.7
792.5
1,731.7
1,703.8
1,022.5
31.9
42.9
18.6
587.8
27.9
979.9
1,483.7
10,181.9
10,134.1
9,734.2
262.8
137.1
86.1
51.1
47.8
0.5
11,469.2
7,764.9
6,294.4
5,242.7
1,051.7
1,470.5
999.2
471.3
1,027.4
29.1
998.3
53.2
1,882.9
1,126.1
756.8
1,710.7
1,683.1
999.4
31.8
41.6
18.4
591.8
27.6
969.8
1,454.7
10,014.5
9,917.5
9,540.5
243.3
133.7
83.4
50.4
97.0
1.0
11,577.3
7,801.9
6,318.9
5,256.9
1,061.9
1,483.0
1,010.9
472.1
1,038.4
33.1
1,005.3
62.1
1,930.0
1,148.4
781.6
1,717.1
1,689.4
1,020.1
31.7
43.0
18.5
576.1
27.8
972.2
1,477.6
10,099.7
10,069.2
9,674.0
259.5
135.7
85.3
50.5
30.5
0.3
11,735.0
7,882.7
6,382.7
5,309.8
1,072.9
1,500.0
1,022.7
477.3
1,048.7
38.6
1,010.0
68.4
1,976.2
1,171.1
805.0
1,742.3
1,714.4
1,034.6
31.7
43.5
18.7
585.9
28.0
983.2
1,489.8
10,245.2
10,200.9
9,785.7
275.8
139.3
87.1
52.2
44.4
0.4
11,880.9
7,985.0
6,468.4
5,383.7
1,084.7
1,516.6
1,034.3
482.4
1,055.9
43.8
1,012.1
77.8
1,999.8
1,173.2
826.6
1,756.5
1,728.4
1,036.1
32.4
43.7
18.8
597.4
28.1
994.1
1,512.7
10,368.2
10,348.9
9,936.6
272.5
139.7
88.5
51.2
19.3
0.2
12,018.4
8,100.8
6,560.3
5,456.4
1,103.9
1,540.5
1,048.3
492.2
1,055.9
37.4
1,018.4
78.9
2,012.6
1,169.3
843.3
1,786.1
1,758.0
1,056.7
34.6
45.6
19.0
602.1
28.1
1,015.9
1,516.1
10,502.3
10,441.2
10,046.2
253.6
141.4
89.7
51.7
61.1
0.6
35
8,396.9
8,658.6
8,623.9
8,607.1
8,692.1
8,711.7
8,749.7
36
37
38
32,183
28,064
299,199
33,705
28,663
302,087
33,270
28,650
301,004
33,480
28,532
301,667
33,874
28,739
302,452
34,193
28,730
303,225
34,562
28,794
303,868
39
40
5.9
3.1
5.7
3.1
9.1
5.4
3.4
-0.8
5.9
4.0
4.9
0.9
5.3
1.8
Line
2007
I
Personal incom e...............................................................................................................................................
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..........................................
O ther..................................................................
Other current transfer receipts, from business (net).............................................................................
Less: Contributions for government social insurance...............................................................................
Less: Personal current ta x e s ........................................................................................................................
Equals: Disposable personal in c o m e ........................................................................................................
Less: Personal o u tla y s .....................
Personal consumption expenditures..........................................................................................................
Personal interest paym ents2.........
Personal current transfer paym ents............................................................................................................
To government............................
To the rest of the world (net)......
Equals: Personal sa vin g ................................................................................................................................
Personal saving as a percentage of disposable personal in co m e.................................................
Addenda:
Disposable personal income:
Total, billions of chained (2000) dollars 3..............................................................................................
Per capita:
Current d ollars......................................................................................................................................
Chained (2000) dollars.........................................................................................................................
Population (midperiod, thousands).............................................................................................................
Percent change from preceding period:
Disposable personal incom e, current d o lla rs .................................................................................
Disposable personal income, chained (2000) d olla rs....................................................................
II
2008
III
IV
I
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
I
Wage and salary disb urse m e nts.........................................................................................................
Private in du strie s..............................................................................................................................................
Goods-producing industries..........................................................................................................................
Manufacturing..................
Services-producing industries.....................................................................................................................
Trade, transportation, and utilities...........................................................................................................
Other services-producing industries 1....................................................................................................
G overnm ent.......................................................................................................................................................
1
2
3
4
5
6
7
8
6,018.2
4,997.6
1,166.8
731.0
3,830.8
985.1
2,845.7
1,020.6
6,366.1
5,298.3
1,217.3
756.2
4,081.0
1,033.5
3,047.5
1,067.8
6,294.4
5,242.7
1,208.9
755.4
4,033.9
1,020.0
3,013.8
1,051.7
II
6,318.9
5,256.9
1,212.6
754.1
4,044.3
1,033.7
3,010.6
1,061.9
2008
III
6,382.7
5,309.8
1,217.5
754.7
4,092.3
1,033.3
3,059.0
1,072.9
IV
6,468.4
5,383.7
1,230.3
760.5
4,153.4
1,046.8
3,106.6
1,084.7
I
6,560.3
5,456.4
1,237.5
765.3
4,218.9
1,055.6
3,163.3
1,103.9
1. Other services-producing industries consists of information; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; management of companies and enterprises,
administrative and support and waste management and remediation services; educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other
services.
N ote. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
June 2008
S urvey
D -1 9
C u r r e n t B u s in e s s
of
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
Personal consum ption
e xp en d itu res....................
Durable g o o d s ..............................
Motor vehicles and p a rts..........
Furniture and household
equipment...............................
O th er...........................................
N ondurable g o o d s .......................
Food............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and oil.....................
Fuel oil and co a l....................
O th er...........................................
S ervices..........................................
Housing......................................
Household operation................
Electricity and g a s................
Other household operation...
Transportation............................
Medical care...............................
Recreation..................................
O th er...........................................
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy.............................
2006
2007
2007
Line
2008
I
II
III
IV
2006
2007
2007
I
I
1
2
3
3.1
3.8
-3.1
2.9
4.7
2.2
3.7
8.8
11.3
1.4
1.7
-2.9
2.8
4.5
-5.2
2.3
2.0
2.8
1.0
-6.2
-13.5
4
5
6
!
8
11.9
4.1
3.6
4.0
5.0
7.8
3.9
2.4
2.3
4.6
9.5
2.7
3.0
1.7
8.4
4.2
6.8
-0.5
-1.4
2.4
10.8
13.4
2.2
1.3
6.3
4.5
-4.0
1.2
4.2
-3.6
0.6
-3.9
-0.3
1.1
1.7
9
10
11
12
13
14
15
16
1/
18
19
20
21
-0.3
0.4
-9.7
4.2
2.7
2.7
-0.8
-3.1
0.8
1.2
3.3
3.1
3.5
-1.2
-2.0
9.2
3.1
2.8
2.4
3.2
5.8
1.3
3.1
2.7
3.9
3.0
2.4
-1.5
67.9
3.1
3.1
2.5
1.0
1.6
0.5
2.6
3.9
2.1
4.0
-4.5
-2.6
-26.1
1.7
2.3
2.7
1.4
1.2
1.5
4.4
2.3
0.9
1.9
-0.6
0.8
-19.0
3.3
2.8
2.5
6.2
13.5
1.1
3.5
2.2
3.5
2.4
-1.4
-2.3
11.2
-0.1
2.8
3.2
6.0
12.1
1.6
2.8
4.3
0.0
0.3
-4.8
-3.6
-20.5
-1.4
3.0
2.2
6.5
13.7
1.2
1.5
3.6
-1.5
3.6
22
-1.4
1.4
2.1
-2.3
4.5
3.5
1.7
23
3.3
3.1
4.2
2.2
3.0
1.9
0.9
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Percent change at annual rate:
Personal consum ption
e xp en d itu res....................
Percentage poin ts at annual
rates:
Durable g o o d s...............................
Motor vehicles and parts...........
Furniture and household
equipment...............................
Other............................................
Nondurable g o o d s .......................
Food.............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and o il.....................
Fuel oil and coal.....................
Other............................................
S ervice s..........................................
Housing........................................
Household operation..................
Electricity and g a s ................
Other household operation...
Transportation.............................
Medical c a re ...............................
Recreation..................................
Other............................................
Addenda:
Energy goods and services
Personal consumption
expenditures excluding food
and energy..............................
2008
III
II
I
IV
1
3.1
2.9
3.7
1.4
2.8
2.3
1.0
2
3
0.44
-0.16
0.52
0.10
0.97
0.51
0.19
-0.14
0.49
-0.24
0.22
0.13
-0.69
-0.63
4
5
6
7
8
0.50
0.09
1.06
0.54
0.19
0.33
0.09
0.69
0.32
0.18
0.40
0.06
0.88
0.23
0.32
0.18
0.15
-0.14
-0.19
0.09
0.44
0.29
0.65
0.18
0.24
0.19
-0.09
0.36
0.56
-0.14
0.02
-0.09
-0.09
0.15
0.06
9
10
11
12
13
14
15
16
17
18
19
20
21
-0.01
0.01
-0.02
0.33
1.59
0.40
-0.05
-0.07
0.02
0.04
0.57
0.13
0.49
-0.05
-0.07
0.02
0.24
1.70
0.36
0.17
0.13
0.04
0.11
0.48
0.16
0.42
0.08
-0.05
0.13
0.25
1.86
0.37
0.05
0.04
0.01
0.10
0.68
0.09
0.57
-0.17
-0.09
-0.08
0.13
1.35
0.41
0.08
0.03
0.05
0.16
0.40
0.04
0.27
-0.02
0.03
-0.05
0.25
1.70
0.38
0.33
0.30
0.03
0.13
0.38
0.14
0.34
-0.06
-0.08
0.03
-0.01
1.69
0.49
0.32
0.27
0.05
0.10
0.74
0.00
0.05
-0.20
-0.14
-0.06
-0.11
1.78
0.33
0.35
0.31
0.04
0.06
0.61
-0.06
0.49
22
-0.08
0.08
0.12
-0.14
0.27
0.22
0.11
23
2.62
2.51
3.36
1.73
2.38
1.50
0.73
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
Type of Product, Quantity Indexes
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major
Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2006
2007
2007
I
Personal consum ption
e xp en d itu res....................
Durable g o o d s ..............................
Motor vehicles and p a rts..........
Furniture and household
equipment...............................
O th er...........................................
Nondurable g o o d s.......................
F ood............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and oil.....................
Fuel oil and co a l....................
O th er...........................................
S ervices....................
Housing................
Household operation................
Electricity and g a s................
Other household operation...
Transportation............................
Medical care...............................
Recreation..................................
O th er...........................................
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy..............................
1 119.359 122.828
2 136.735 143.096
3 113.133 115.614
4
5
6
7
8
176.051
130.511
120.051
118.012
131.374
II
2008
III
IV
123.190
143.852
114.438
123.885 124.191
144.572 142.263
115.240 111.141
189.710 185.319 187.229
135.588 132.153 134.342
122.884 122.563 122.419
120.736 120.553 120.125
137.398 136.061 136.866
192.081
138.626
123.090
120.516
138.969
194.212 194.492
137.231 135.884
123.466 123.367
121.749 122.088
137.695 138.263
9
10
11
12
13
14
15
16
17
18
19
20
21
103.734 102.451 103.514
106.369 104.212 104.780
88.962
75.556 82.501
125.015 128.858 127.942
115.696 118.987 117.865
114.098 116.808 115.625
105.845 109.188 107.686
103.643 109.626 106.853
107.421 108.774 108.210
99.981 103.056 101.621
126.634 130.115 128.866
119.760 124.486 123.744
113.106 116.443 115.666
102.322
104.080
82.472
128.489
118.527
116.406
108.062
107.182
108.622
102.714
129.608
124.031
116.208
102.168
104.297
78.229
129.521
119.360
117.132
109.697
110.628
108.915
103.590
130.306
125.090
116.900
101.799 100.549
103.693 102.760
75.871
80.342
129.480 129.032
120.198 121.090
118.068 118.708
111.307 113.069
113.842 117.568
109.347 109.661
104.301 104.702
131.680 132.844
125.078 124.595
117.000 118.025
22
103.736
105.164
104.817
104.205
105.363
106.272
106.726
23
120.689
124.452
123.353
124.017
124.930
125.507
125.792
2006
2007
2007
I
121.906 122.331
141.680 142.283
116.816 115.961
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Line
I
Personal consum ption
e xp e n d itu re s....................
Durable g oo d s...............................
Motor vehicles and parts...........
Furniture and household
equipment...............................
Other............................................
Nondurable g o o d s .......................
Food.............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and o il.....................
Fuel oil and coal.....................
Other............................................
S ervice s..........................................
Housing.......................................
Household operation.................
Electricity and g a s ................
Other household operation...
Transportation............................
Medical c a re ...............................
R ecreation..................................
Other............................................
Addenda:
Energy goods and services 1....
Personal consumption
expenditures excluding food
and energy..............................
1 114.675 117.591 116.129
2 88.857 87.276 87.799
3 99.297 98.726 98.442
4 73.361
5 98.449
6 114.989
7 115.339
8 91.337
2008
II
III
117.345
87.488
98.492
117.873
87.091
98.899
IV
I
119.019 120.035
86.726 86.681
99.070 98.725
68.628 68.336
71.408 70.731
69.631
70.099
99.427 99.415 99.374
99.290 99.628 100.848
118.398 115.620 118.413 118.751 120.810 122.752
119.642 117.664 119.023 120.406 121.476 122.920
90.576 91.627 90.407 90.004
90.265
90.164
9
10
11
12
13
14
15
16
17
18
19
20
21
171.239
170.501
180.349
109.793
120.725
120.290
121.482
141.283
110.054
116.964
122.106
118.585
121.063
185.868 162.011 190.805 187.163
185.455 161.035 191.253 186.741
192.617 175.824 185.463 194.315
111.003 110.761 110.725 110.938
124.556 123.252 124.055 124.921
124.696 123.333 124.231 125.122
124.661 123.777 124.807 124.601
144.347 144.006 145.407 143.318
113.306 112.105 112.921 113.812
119.410 118.120 118.707 120.143
126.438 125.221 125.838 126.687
120.440 119.100 120.288 120.583
124.911 123.408 124.191 125.483
203.495
202.790
214.864
111.588
125.996
126.099
125.459
144.656
114.386
120.670
128.006
121.787
126.562
215.994
214.639
236.954
112.546
126.814
127.005
126.681
146.699
115.110
122.056
128.190
122.812
127.685
22
158.360
167.864
154.330
171.149
168.188
177.791
185.529
23
112.130
114.483
113.730
114.116
114.682
115.403
115.999
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
D-20
June 2008
N a t io n a l D a t a
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 (2 0 0 0 ) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
I
Personal consum ption
e xpen d itu res....................
Durable g o o d s ..............................
Motor vehicles and p a rts..........
Furniture and household
equipment...............................
O th er...........................................
Nondurable g o o d s .......................
Food............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and o il.....................
Fuel oil and co a l....................
O ther...........................................
S ervices..........................................
Housing......................................
Household operation................
Electricity and g a s................
Other household operation...
Transportation............................
Medical care...............................
Recreation..................................
O th er...........................................
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy............................
Seasonally adjusted at annual rates
2008
III
IV
Line
2006
2007
I
1
2
3
9,224.5
1,048.9
434.2
9,734.2
1,078.2
441.2
9,540.5
1,074.0
444.5
9,674.0
1,074.7
441.5
9,785.7
1,081.6
437.5
9,936.6 10,046.2
1,082.5 1,064.7
424.1
441.3
4
5
6
7
8
404.1
210.6
2,688.0
1,259.3
357.2
416.1
221.0
2,833.2
1,336.4
370.5
414.2
215.3
2,759.4
1,312.2
371.1
414.5
218.8
2,822.7
1,322.7
368.4
418.6
225.6
2,846.3
1,342.4
372.4
417.1
224.1
2,904.5
1,368.2
370.0
416.0
224.6
2,948.8
1,388.3
371.1
9
10
11
12
13
14
15
16
17
18
19
20
21
340.1
318.6
21.6
731.4
5,487.6
1,381.3
501.6
209.8
291.8
340.6
1,587.7
381.0
1,295.3
364.2
339.1
25.1
762.2
5,822.8
1,465.9
531.1
226.9
304.2
358.4
1,689.3
402.2
1,375.8
320.9
296.2
24.7
755.1
5,707.1
1,435.1
520.0
220.6
299.4
349.6
1,656.9
395.3
1,350.1
373.6
349.4
24.2
758.1
5,776.5
1,455.4
526.2
223.5
302.7
355.1
1,674.6
400.2
1,365.0
365.9
341.9
24.0
765.6
5,857.8
1,474.9
533.3
227.3
305.9
362.5
1,695.0
404.6
1,387.5
396.4
369.1
27.3
769.9
5,949.7
1,498.3
544.8
236.1
308.7
366.6
1,730.7
408.6
1,400.6
415.6
387.1
28.4
773.8
6,032.7
1,517.3
558.8
247.3
311.5
372.2
1,748.5
410.5
1,425.4
22
550.0
591.1
541.5
597.0
593.2
632.5
662.8
23
7,415.3
7,806.7
7,686.7
7,754.2
7,850.1
7,935.9
7,995.0
Personal consum ption
e xp en d itu res....................
Durable g oo d s...............................
Motor vehicles and p a rts..........
Furniture and household
equipment...............................
Other............................................
Nondurable g o o d s .......................
Food.............................................
Clothing and shoes....................
Gasoline, fuel oil, and other
energy goods.........................
Gasoline and o il.....................
Fuel oil and c o a l....................
Other............................................
S ervices..........................................
Housing.......................................
Household operation..................
Electricity and g a s ................
Other household operation...
Transportation.............................
Medical c a re ...............................
Recreation..................................
Other............................................
Residual...........................................
Addenda:
Energy goods and services ’ ....
Personal consumption
expenditures excluding food
and energy..............................
2007
2008
I
II
III
IV
I
1
2
3
8,044.1
1,180.5
437.3
8,277.8
1,235.4
446.9
8,215.7
1,223.2
451.5
8,244.3
1,228.4
448.2
8,302.2
1,241.9
442.3
8,349.1
1,248.1
445.4
8,369.7
1,228.2
429.6
4
5
6
7
8
550.9
213.9
2,337.7
1,091.8
391.1
593.6
222.2
2,392.8
1,117.0
409.1
579.9
216.6
2,386.6
1,115.3
405.1
585.9
220.2
2,383.8
1,111.4
407.5
601.0
227.2
2,396.8
1,115.0
413.7
607.7
224.9
2,404.2
1,126.4
409.9
608.6
222.7
2,402.2
1,129.5
411.6
9
10
11
12
13
14
15
16
17
18
19
20
21
22
198.6
186.8
12.0
666.2
4,545.5
1,148.3
412.9
148.5
265.1
291.2
1,300.3
321.3
1,069.9
-50.5
196.2
183.1
13.1
686.6
4,674.8
1,175.6
426.0
157.1
268.5
300.2
1,336.0
334.0
1,101.5
-66.7
198.2
184.1
14.1
681.7
4,630.7
1,163.7
420.1
153.1
267.1
296.0
1,323.2
332.0
1,094.1
-61.8
195.9
182.8
13.1
684.7
4,656.7
1,171.6
421.6
153.6
268.1
299.2
1,330.8
332.7
1,099.3
-64.8
195.6
183.2
12.4
690.2
4,689.5
1,178.9
427.9
158.5
268.8
301.7
1,338.0
335.6
1,105.8
-70.1
194.9
182.1
12.7
689.9
4,722.4
1,188.3
434.2
163.1
269.9
303.8
1,352.1
335.5
1,106.8
-69.4
192.5
180.5
12.0
687.6
4,757.4
1,194.7
441.1
168.5
270.7
304.9
1,364.1
334.2
1,116.4
-65.9
23
347.3
352.1
350.9
348.9
352.7
355.8
357.3
24
6,613.1
6,819.2
6,759.0
6,795.4
6,845.5
6,877.1
6,892.7
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 ote. 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.
June 2008
3 .
S urvey
G o v e r n m e n t C u r r e n t R e c e ip ts
a n d
of
D-21
C u r r e n t B u s in e s s
E x p e n d itu r e s
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Current receipts.......................................................................
Current tax receipts................
Personal current taxes........
Taxes on production and im ports................................................
Taxes on corporate income
Taxes from the rest of the w orld..................................................
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 w orld.................................................................
Subsidies.....................
Less: Wage accruals less disbursements......................................
Net governm ent saving..........................................................
Social insurance funds.....................................................................
O ther...................................................................................................
Addenda:
Total re c e ip ts ................................................................................
Current receipts.........................................................................
Capital transfer receipts...........................................................
Total expenditures............
Current expenditures.....
Gross government investment.................................................
Capital transfer payments........................................................
Net purchases of nonproduced assets..................................
Less: Consumption of fixed capital.........................................
Net lending or net borrow ing ( - ) .............................................
2006
2007
I
II
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
3,934.8
2,769.8
1,354.3
967.3
435.5
12.6
927.6
111.9
109.3
2.6
139.5
60.6
78.9
-13.9
4,130.3
2,089.3
1,618.3
1,588.7
1,585.3
3.3
29.6
372.9
239.2
133.8
49.7
0.0
-195.4
21.5
-217.0
4,182.4
2,950.1
1,483.7
1,008.5
444.5
13.4
979.9
114.6
111.9
2.7
152.3
66.2
86.1
-14.5
4,412.7
2,221.9
1,742.4
1,707.4
1,703.8
3.6
35.0
401.3
244.1
157.2
47.1
0.0
-230.3
-4.8
-225.5
4,102.3
2,889.7
1,454.7
990.8
432.1
12.0
969.8
112.9
110.3
2.6
147.6
64.3
83.4
-17.8
4,326.6
2,156.5
1,729.6
1,686.6
1,683.1
3.5
43.0
393.5
242.9
150.7
47.0
0.0
-224.3
7.2
-231.5
4,183.9
2,962.3
1,477.6
1,004.1
468.6
12.0
972.2
114.0
111.4
2.6
150.3
65.1
85.3
-15.0
4,377.2
2,205.7
1,716.3
1,693.0
1,689.4
3.6
23.3
407.9
250.1
157.8
47.3
0.0
-193.4
-10.7
-182.7
4,203.1
2,963.3
1,489.8
1,014.4
446.6
12.6
983.2
115.3
112.6
2.7
153.5
66.4
87.1
-12.2
4,446.4
2,242.1
1,749.1
1,718.0
1,714.4
3.7
31.1
408.6
249.9
158.7
46.6
0.0
-243.2
-13.2
-230.0
4,240.3
2,985.2
1,512.7
1,024.8
430.8
17.0
994.1
116.2
113.4
2.8
157.7
69.2
88.5
-13.1
4,500.6
2,283.3
1,774.7
1,731.9
1,728.4
3.5
42.7
395.1
233.7
161.4
47.5
0.0
-260.3
-2.6
-257.7
4,237.7
2,956.2
1,516.1
1,034.2
392.3
13.7
1,015.9
118.1
115.0
3.1
161.9
72.1
89.7
-14.4
4,613.3
2,343.7
1,805.3
1,761.8
1,758.0
3.8
43.5
415.8
255.0
160.9
48.4
0.0
-375.6
0.0
-375.7
30
31
32
33
34
35
36
37
38
39
3,967.5
3,934.8
32.6
4,312.3
4,130.3
433.8
18.1
-2.1
267.7
-344.8
4,213.1
4,182.4
30.7
4,632.5
4,412.7
467.9
29.2
10.6
287.9
-419.4
4,128.7
4,102.3
26.5
4,533.2
4,326.6
451.8
26.0
10.0
281.3
-404.5
4,217.1
4,183.9
33.2
4,590.6
4,377.2
464.3
26.1
9.0
286.0
-373.6
4,233.4
4,203.1
30.3
4,671.2
4,446.4
474.4
26.8
13.6
290.0
-437.8
4,273.0
4,240.3
32.7
4,734.7
4,500.6
481.0
37.8
9.7
294.4
-461.7
4,269.4
4,237.7
31.7
4,836.6
4,613.3
481.0
37.8
3.8
299.3
-567.1
2007
2008
D-22
June 2008
N a t io n a l D a t a
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
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
C urrent receipts........................
Current tax receipts.............................
Personal current taxes....................
Taxes on production and imports...
Excise taxes................................
Customs duties...........................
Taxes on corporate incom e...........
Federal Reserve b anks.............
O th er............................................
Taxes from the rest of the w o rld ....
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......................................
C urrent e xp en d itu res..............
Consumption expenditures................
Current transfer payments..................
Government social benefits...........
To persons...................................
To the rest of the world..............
Other current transfer payments....
Grants-in-aid to state and local
governments...........................
To the rest of the world (net)......
Interest payments................................
To persons and business...............
To the rest of the w orld...................
Subsidies..............................................
Less: Wage accruals less
disbursements.................................
Net Federal Government
sa vin g .....................................
Social insurance fu n d s.......................
O th er.....................................................
Addenda:
Total re c e ip ts .................................
Current receipts..........................
Capital transfer receipts.............
Total e xpenditures........................
Current expenditures..................
Gross government investment...
Capital transfer payments..........
Net purchases of nonproduced
assets......................................
Less: Consumption of fixed
capital......................................
Net lending or net borrow ing (-)
II
1 2,495.8 2,673.5 2,619.7
2 1,537.5 1,657.4 1,619.0
3 1,053.2 1,163.3 1,138.8
97.9
4
98.6
99.9
71.2
5
71.9
69.6
6
26.7
28.8
28.2
7
373.1
380.8
370.3
8
33.1
29.1
33.0
337.2
9
344.0
347.8
13.4
10
12.6
12.0
2008
III
2,670.1 2,689.4
1,663.2 1,667.2
1,151.7 1,170.7
98.3
101.4
72.9
70.1
28.1
28.5
401.3
382.5
33.7
33.0
367.6
349.6
12.0
12.6
IV
I
2,714.7
1,680.1
1,191.9
102.2
72.1
30.1
369.1
32.2
336.8
17.0
2,698.0
1,641.2
1,186.6
104.5
75.2
29.3
336.4
31.6
304.8
13.7
953.9
25.1
17.8
7.3
39.4
23.0
16.3
944.0
24.6
17.4
7.1
38.1
22.2
15.9
946.3
25.1
17.9
7.2
38.5
22.3
16.3
957.3
25.3
18.0
7.3
39.4
22.8
16.6
968.1
25.4
17.9
7.5
41.4
24.9
16.5
989.7
25.6
18.2
7.4
42.7
26.3
16.4
-3.2
-2.3
18
19 2,715.8 2,892.0
20
812.8
856.0
21 1,576.1 1,686.8
22 1,187.9 1,274.3
23 1,184.6 1,270.7
24
3.3
3.6
388.2
25
412.5
-6.1
2,838.2
829.8
1,665.6
1,248.5
1,245.0
3.5
417.0
-3.0
2,876.9
849.8
1,670.9
1,271.4
1,267.8
3.6
399.5
0.2
2,919.7
867.7
1,696.4
1,286.3
1,282.6
3.7
410.2
-0.4
2,933.2
876.9
1,714.5
1,291.1
1,287.5
3.5
423.4
-1.2
3,009.9
900.8
1,746.5
1,321.6
1,317.8
3.8
424.9
11
12
13
14
15
16
17
901.6
24.7
17.1
7.7
35.2
20.0
15.2
Line
26
27
28
29
30
31
358.6
29.6
277.5
143.8
133.8
49.4
377.5
35.0
302.4
145.2
157.2
46.7
374.0
43.0
296.3
145.6
150.7
46.6
376.1
23.3
309.4
151.5
157.8
46.9
379.1
31.1
309.3
150.6
158.7
46.2
380.7
42.7
294.7
133.3
161.4
47.1
381.4
43.5
314.6
153.7
160.9
48.0
W
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33
34
35
-220.0
14.4
-234.5
-218.5
-11.0
-207.6
-218.5
0.9
-219.4
-206.8
-16.9
-189.9
-230.3
-19.2
-211.1
-218.5
-8.6
-209.9
-311.9
-5.9
-306.0
36
37
38
39
40
41
42
2,523.6
2,495.8
27.8
2,786.9
2,715.8
119.7
70.2
2,699.6
2,673.5
26.1
2,983.4
2,892.0
120.0
82.6
2,641.6
2,619.7
21.9
2,917.2
2,838.2
116.8
72.1
2,698.7
2,670.1
28.6
2,963.8
2,876.9
119.8
79.6
2,715.1 2,743.0
2,689.4 2,714.7
25.8
28.2
3,018.8 3,033.6
2,919.7 2,933.2
122.6
120.8
85.3
93.5
2,725.3
2,698.0
27.3
3,099.8
3,009.9
122.7
88.5
43
-13.3
-0.8
-1.3
-2.3
2.2
-1.7
-7.7
44
45
105.4
-263.3
110.4
-283.8
108.6
-275.6
110.2
-265.1
110.9
-303.7
112.1
-290.7
113.5
-374.5
Current re c e ip ts........................
Current tax receipts............................
Personal current taxes....................
Income taxes...............................
Other.............................................
Taxes on production and imports...
Sales taxes..................................
Property ta xe s............................
Other.............................................
Taxes on corporate income............
Contributions for government social
insurance..........................................
Income receipts on assets..................
Interest receipts...............................
Dividends..........................................
Rents and royalties.........................
Current transfer receipts.....................
Federal grants-in-aid.......................
From business (net)........................
From persons...................................
Current surplus of government
enterprises.......................................
C urrent e xp en d itu res..............
Consumption expenditures................
Government social benefit payments
to persons........................................
Interest paym ents................................
Subsidies..............................................
Less: Wage accruals less
disbursements.................................
Net state and local
governm ent sa vin g..............
Social insurance funds........................
Other......................................................
Addenda:
Total receip ts..................................
Current receipts..........................
Capital transfer receipts.............
Total e xp en d itu res........................
Current expenditures..................
Gross government investment...
Net purchases of nonproduced
assets......................................
Less: Consumption of fixed
capital......................................
Net lending o r net borrow ing (-)
2006
1 1,797.7
2 1,232.3
3
301.2
4
275.1
5
26.1
6
868.8
7
415.4
8
367.8
9
85.5
10
62.4
2007
2007
I
II
1,886.4
1,292.7
320.4
293.5
26.9
908.6
429.1
389.7
89.8
63.7
1,856.6
1,270.6
315.9
289.2
26.7
893.0
423.9
381.5
87.5
61.8
1,889.9
1,299.1
325.9
299.2
26.7
905.8
428.5
386.9
90.4
67.4
2008
III
IV
I
1,892.8 1,906.2
1,296.1 1,305.1
319.1
320.9
292.1
293.5
27.0
27.3
913.0
922.5
433.4
430.6
392.4
397.8
89.9
91.3
64.1
61.7
1,921.0
1,315.0
329.5
301.9
27.5
929.7
433.7
403.3
92.7
55.9
11
12
13
14
15
16
17
18
19
26.0
87.1
73.8
2.6
10.7
462.9
358.6
40.6
63.7
25.9
89.5
75.9
2.7
10.9
490.4
377.5
43.2
69.7
25.8
88.3
75.0
2.6
10.7
483.6
374.0
42.1
67.4
25.9
88.9
75.5
2.6
10.8
487.9
376.1
42.8
69.0
25.9
90.0
76.3
2.7
11.0
493.1
379.1
43.5
70.5
26.0
90.8
76.8
2.8
11.2
497.0
380.7
44.3
72.0
26.2
92.4
77.7
3.1
11.6
500.5
381.4
45.9
73.3
20
21
22
-10.7
1,773.0
1,276.5
-12.2
1,898.2
1,365.9
-11.8
1,862.4
1,326.7
-12.0
1,876.5
1,355.9
-12.4
1,905.8
1,374.3
-12.7
1,948.1
1,406.4
-13.2
1,984.8
1,442.9
23
24
25
400.8
95.4
0.4
433.0
98.9
0.4
438.1
97.3
0.4
421.5
98.6
0.4
431.7
99.3
0.4
440.9
100.4
0.4
440.2
101.2
0.4
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27
28
29
24.6
7.1
17.5
-11.8
6.1
-17.9
-5.8
6.3
-12.2
13.4
6.2
7.2
-13.0
6.0
-19.0
-41.9
5.9
-47.8
-63.7
6.0
-69.7
1,854.5 1,944.4 1,907.3
1,797.7 1,886.4 1,856.6
56.9
58.0
50.6
1,936.0 2,080.0 2,036.1
1,773.0 1,898.2 1,862.4
314.0
347.9
335.0
1,948.0
1,889.9
58.1
2,056.5
1,876.5
344.5
1,956.0
1,892.8
63.1
2,090.1
1,905.8
351.9
11.4
11.4
11.4
11.5
179.0
-134.1
182.4
-171.1
185.8
-192.7
30
31
32
33
34
35
36
37
38
39
11.2
162.3
-81.5
11.4
177.5
-135.6
11.4
172.7
-128.9
175.9
-108.5
1,966.4 1,976.1
1,906.2 1,921.0
60.2
55.1
2,137.4 2,168.8
1,948.1 1,984.8
358.4
360.3
June 2008
S urvey
D-23
C u r r e n t B u s in e s s
of
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
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
G overnment consum ption
expenditures and gross
investm ent...........................
Consumption expenditures1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
N ondefense..................................
Consumption expenditures.....
Gross investment......................
Structures.............................
Equipment and software......
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software......
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
1b
19
20
21
22
23
24
25
1.8
1.4
3.7
1.9
6.9
2.2
1.5
6.8
2.2
7.5
1.9
1.2
6,9
-1.0
7.6
2.8
2.2
6.5
4.3
7.3
1.6
1.4
2.6
1.9
5.8
2.0
1.9
2.4
3.0
1.3
1.7
2.1
-0.9
0.9
-1.2
2.8
3.0
0.8
11.1
-0.1
-0.4
0.2
-4.5
-5.2
-4.1
2.2
1.9
3.6
3.1
6.1
-0.5
-0.4
-0.9
2.6
-7.0
-6.3
-4.2
-19.8
—43.3
-14.7
-10.8
-9.2
-20.6
-43.4
-18.0
3.8
7.3
-18.0
-43.2
-5.3
3.0
2.0
7.1
6.6
9.2
Line
2008
II
III
IV
4.1
3.3
7.9
7.4
9.0
6.0
5.4
9.9
4.3
10.9
8.5
8.7
7.6
20.4
6.5
0.9
-0.9
14.9
-5.4
23.2
3.0
2.0
7.2
7.5
5.7
3.8
3.5
5.2
5.5
4.6
7.1
7.1
7.4
23.0
5.0
10.1
9.6
13.7
40.5
11.4
1.1
2.0
-4.7
11.8
-10.1
1.9
1.3
4.4
4.5
3.9
2.0
2.0
1.9
4.9
-3.9
0.5
1.6
-6.7
13.1
-9.9
-0.5
1.3
-12.7
19.5
-15.5
2.8
2.2
7.3
8.6
6.8
2.8
2.2
5.0
4.4
7.7
2006
2007
2.0
3.1
-3.5
-7.9
5.7
4.4
4.4
4.0
-8.7
6.5
5.6
5.8
4.6
-11.7
6.5
1.8
1.6
2.7
-6.5
6.4
0.6
2.3
-5.9
-7.8
4.4
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account 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
I
I
Percent change at annual rate:
Governm ent consum ption
expenditures and gross
investm ent...........................
Percentage points at annual
rates:
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
National d efense.........................
Consumption expenditures.....
Gross investment......................
S tructures..............................
Equipment and software......
N ondefense..................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
S tructures..................................
Equipment and software
II
2008
III
I
IV
1
1.8
2.0
-0.5
4.1
3.8
2.0
2.0
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1.18
0.63
0.21
0.42
0.81
0.49
0.31
0.01
0.30
0.47
0.26
0.21
0.00
0.21
0.34
0.24
0.10
0.02
0.08
1.00
0.69
0.32
0.19
0.12
1.61
0.42
0.34
0.08
0.63
0.67
-0.04
0.01
-0.05
0.68
0.65
0.03
0.03
0.00
-0.05
0.02
-0.07
-0.02
-0.05
1.40
0.94
0.46
0.34
0.13
-0.33
-0.15
0.29
-0.44
-2.37
-1.35
-1.02
-0.39
-0.63
-2.81
-2.09
-0.72
-0.16
-0.57
0.44
0.73
-0.30
-0.24
-0.06
1.88
1.02
0.86
0.68
0.19
2.73
1.35
0.83
0.52
2.15
1.72
0.43
0.03
0.40
2.04
1.81
0.23
0.05
0.18
0.11
-0.09
0.20
-0.02
0.23
1.93
1.01
0.92
0.80
0.12
2.89
0.90
0.63
0.27
2.54
2.21
0.33
0.14
0.19
2.41
2.01
0.40
0.09
0.31
0.13
0.20
-0.07
0.04
-0.11
1.25
0.67
0.57
0.49
0.08
1.63
0.33
0.56
-0.23
0.19
0.50
-0.31
0.08
-0.39
-0.13
0.28
-0.41
0.05
-0.46
0.32
0.22
0.10
0.03
0.07
1.76
1.12
0.63
0.48
0.16
2.57
-0.62
-0.94
0.32
1.56
1.39
0.17
-0.06
0.23
1.36
1.22
0.13
-0.04
0.17
0.21
0.17
0.04
-0.03
0.06
0.39
1.17
-0.79
-0.88
0.09
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.
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
Seasonally adjusted
Line
G overnm ent consum ption
expenditures and gross
investm ent...........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
Nondefense..................................
Consumption expenditures.....
Gross investment......................
Structures.............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software..........
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
2006
115.092
114.368
118.575
107.629
140.328
128.255
126.034
144.865
94.146
156.577
132.722
129.575
157.016
93.294
165.077
120.234
119.543
125.728
94.559
140.045
108.418
107.966
110.206
108.648
117.770
2007
117.427
116.593
121.441
110.873
142.128
130.454
128.683
143.511
95.028
154.656
136.400
133.524
158.342
103.686
164.992
119.721
119.755
120.127
89.626
134.303
110.816
109.965
114.218
112.059
124.965
2007
I
II
III
IV
I
115.865
115.247
118.814
108.334
139.409
127.886
126.196
140.322
91.107
151.736
132.744
129.843
154.971
94.677
162.560
119.140
119.498
117.224
88.827
130.324
109.748
109.235
111.772
109.618
122.513
117.028
116.183
121.099
110.274
142.445
129.756
127.877
143.680
92.066
155.710
135.488
132.566
157.839
99.180
165.133
119.414
119.232
121.363
87.614
137.298
110.564
109.768
113.740
111.630
124.211
118.121
117.184
122.644
111.767
144.049
132.000
130.074
146.280
96.956
157.614
138.775
135.626
162.994
107.989
169.639
119.747
119.816
119.898
90.095
133.687
111.096
110.126
114.980
112.878
125.392
118.693
117.758
123.209
113.118
142.608
132.175
130.586
143.763
99.980
153.563
138.592
136.062
157.566
112.898
162.635
120.583
120.473
122.023
91.967
135.903
111.857
110.731
116.380
114.109
127.743
119.268
118.667
122.111
110.824
144.607
133.598
132.009
145.175
97.728
155.997
140.500
137.981
159.351
109.449
165.230
121.114
120.965
122.840
90.444
138.020
112.025
111.368
114.613
111.811
129.123
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.
Line
2008
Governm ent consum ption
expenditures and gross
investm ent...........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
F ederal...............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defe nse.........................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
N ondefense..................................
Consumption expenditures.....
Gross investment......................
S tructures..............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2006
127.334
128.913
120.128
136.047
96.841
125.622
129.158
103.990
134.009
99.352
127.027
130.776
103.760
136.013
101.166
122.959
126.083
104.273
132.964
95.042
128.370
128.822
126.623
136.179
92.845
2007
2007
133.042
134.469
126.518
147.121
97.137
129.256
133.216
105.200
141.063
99.830
130.681
134.834
105.127
143.387
102.123
126.553
130.143
105.156
139.857
94.368
135.316
135.331
135.338
147.520
92.829
2008
I
II
III
IV
I
130.765
132.048
124.894
144.328
97.046
127.886
131.684
104.764
139.136
99.578
129.153
133.137
104.564
141.543
101.648
125.503
128.942
104.988
137.852
94.656
132.499
132.344
133.194
144.672
93.009
132.527
133.974
125.914
146.166
96.997
129.098
133.085
104.894
140.468
99.564
130.454
134.637
104.741
143.170
101.727
126.539
130.150
105.020
138.992
94.415
134.586
134.602
134.604
146.542
92.901
133.588
135.019
127.046
147.969
97.247
129.622
133.603
105.442
141.711
100.022
131.069
135.222
105.511
144.267
102.472
126.876
130.532
105.095
140.341
94.178
135.969
135.984
135.991
148.381
92.799
135.286
136.834
128.218
150.021
97.259
130.416
134.491
105.701
142.938
100.157
132.049
136.341
105.692
144.568
102.644
127.293
130.948
105.521
142.241
94.224
138.209
138.396
137.562
150.487
92.608
137.575
139.378
129.365
151.744
97.641
132.360
136.662
106.321
143.982
100.718
133.937
138.404
106.561
145.660
103.495
129.354
133.348
105.627
143.254
94.103
140.706
141.180
138.936
152.254
92.697
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
June 2008
N a t io n a l D a t a
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and
Gross Investment, Chained Dollars
[Billions o f dollars]
[Billions of chained (200 0) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
G overnment consum ption
expenditures and gross
in ve stm e n t...........................
Consumption expenditures1
Gross investm ent2...............
Structures..........................
Equipment and software...
Federal................................................
Consumption expenditures......
Gross investment.......................
Structures...............................
Equipment and software.......
National defense..........................
Consumption expenditures......
Gross investment.......................
Structures...............................
Equipment and software......
Nondefense...................................
Consumption expenditures.......
Gross investment.......................
Structures...............................
Equipment and software.......
State and lo c a l..................................
Consumption expenditures...........
Gross investment...........................
Structures...................................
Equipment and software...........
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
2,523.0
2,089.3
433.8
277.2
156.5
932.5
812.8
119.7
16.8
102.9
624.3
544.8
79.5
6.3
73.2
308.2
268.0
40.2
10.5
29.7
1,590.5
1,276.5
314.0
260.5
53.6
2,689.8
2,221.9
467.9
308.9
159.0
976.0
856.0
120.0
17.8
102.2
660.1
578.9
81.2
7.4
73.9
315.9
277.2
38.7
10.4
28.3
1,713.8
1,365.9
347.9
291.1
56.9
2,608.3
2,156.5
451.8
296.0
155.8
946.6
829.8
116.8
16.8
100.0
634.8
555.7
79.1
6.6
72.4
311.7
274.0
37.7
10.2
27.5
1,661.7
1,326.7
335.0
279.2
55.9
II
2,670.0
2,205.7
464.3
305.1
159.2
969.5
849.8
119.8
17.2
102.6
654.5
573.8
80.7
7.0
73.6
315.0
276.0
39.1
10.1
28.9
1,700.5
1,355.9
344.5
288.0
56.6
Seasonally adjusted at annual rates
III
2,716.5
2,242.1
474.4
313.1
161.4
990.3
867.7
122.6
18.2
104.3
673.5
589.6
83.9
7.7
76.2
316.8
278.1
38.6
10.5
28.1
1,726.2
1,374.3
351.9
294.8
57.0
IV
2,764.4
2,283.3
481.0
321.3
159.8
997.7
876.9
120.8
19.0
101.8
677.7
596.4
81.3
8.1
73.2
320.0
280.5
39.5
10.9
28.6
1,766.7
1,406.4
360.3
302.3
58.0
2006
2007
I
2,824.7
2,343.7
481.0
318.4
162.6
1,023.4
900.8
122.7
18.7
104.0
696.8
613.9
82.9
7.9
75.0
326.6
286.9
39.8
10.8
29.0
1,801.3
1,442.9
358.4
299.7
58.7
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.
Line
2008
Governm ent consum ption
expenditures and gross
investm ent...........................
Consumption expenditures1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment......................
Structures.............................
Equipment and software.....
National defense .........................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
N ondefense..................................
Consumption expenditures.....
Gross investment......................
Structures.............................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software..........
Residual..............................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
1,981.4
1,620.7
361.1
203.8
161.6
742.3
629.3
115.1
12.5
103.6
491.5
416.6
76.6
4.6
72.4
250.7
212.6
38.5
7.9
31.3
1,239.0
990.9
248.0
191.3
57.7
-3.9
2,021.6
1,652.2
369.8
209.9
163.7
755.0
642.5
114.0
12.6
102.3
505.1
429.3
77.3
5.2
72.3
249.6
213.0
36.8
7.5
30.0
1,266.4
1,009.2
257.0
197.3
61.3
-3.5
2007
2008
I
II
III
IV
I
1,994.7
1,633.2
361.8
205.1
160.6
740.2
630.1
111.5
12.1
100.4
491.6
417.4
75.6
4.7
71.3
248.4
212.5
35.9
7.4
29.1
1,254.2
1,002.5
251.5
193.0
60.1
-3.3
2,014.8
1,646.4
368.8
208.8
164.1
751.0
638.5
114.2
12.2
103.0
501.7
426.2
77.0
4.9
72.4
248.9
212.0
37.2
7.3
30.7
1,263.5
1,007.4
256.0
196.5
60.9
-3.5
2,033.6
1,660.6
373.5
211.6
165.9
764.0
649.5
116.2
12.9
104.3
513.9
436.0
79.6
5.4
74.4
249.6
213.1
36.8
7.5
29.9
1,269.6
1,010.7
258.8
198.7
61.5
-3.6
2,043.4
1,668.7
375.2
214.2
164.3
765.0
652.0
114.2
13.3
101.6
513.2
437.4
76.9
5.6
71.3
251.4
214.2
37.4
7.7
30.3
1,278.3
1,016.3
261.9
200.9
62.6
-2.9
2,053.3
1,681.6
371.8
209.8
166.6
773.2
659.1
115.4
13.0
103.2
520.3
443.6
77.8
5.4
72.4
252.5
215.1
37.7
7.5
30.8
1,280.2
1,022.1
257.9
196.8
63.3
-3.7
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.
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 is the
difference between the first line and the sum of the most detailed lines.
June 2008
S urvey
of
D -25
C u r r e n t B u s in e s s
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
G overnm ent consum ption expenditures 1..................................................................................
Gross output of general government............................................................................................
Value added.................................................................................................................................
Compensation of general government employees............................................................
Consumption of general government fixed cap ita l2..........................................................
Intermediate goods and services purchased 3.......................................................................
Durable g oods........................................................................................................................
Nondurable g oods..................................................................................................................
Services...................................................................................................................................
Less: Own-account investment4..................................................................................................
Sales to other sectors........................................................................................................
Federal consum ption expenditures 1.........................................................................................................
Gross output of general governm ent................................................................................................
Value added.....................................................................................................................................
Compensation of general government employees..................................................................
Consumption of general government fixed ca p ita l2..............................................................
Intermediate goods and services purchased 3...........................................................................
Durable goods..............................................................................................................................
Nondurable goods.......................................................................................................................
Services........................................................................................................................................
Less: Own-account investment4.......................................................................................................
Sales to other sectors............................................................................................................
Defense consum ption 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............................................................................................................
Nondefense consum ption 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 toother sectors............................................................................................................
State and local consum ption 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.........................................................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2006
2007
2007
2008
I
II
1.4
1.4
0.6
0.2
3.0
2.6
6.0
1.4
2.7
5.0
0.9
1.5
1.4
-0.2
-1.1
3.4
3.4
8.4
-4.0
3.8
-1.7
-9.0
1.2
1.2
-0.5
-1.6
3.0
3.3
8.5
-7.6
3.7
-2.0
6.8
2.2
1.8
0.5
-0.2
4.4
3.5
7.5
1.9
2.0
1.2
0.9
2.8
3.5
4.2
1.4
4.2
5.7
2.4
2.1
2.1
0.6
0.0
2.7
3.9
4.6
-9.2
5.5
0.2
-1.6
3.0
3.1
0.3
-0.4
2.5
6.3
5.0
-14.8
8.7
0.0
8.3
0.2
0.0
1.0
0.5
3.2
-1.3
0.2
-0.4
0.3
0.8
0.4
2.7
-0.4
-13.8
1.9
0.2
7.9
4.5
-4.2
-3.5
-1.2
-2.2
2.6
-6.3
-24.1
-6.8
-3.8
-10.8
119.7
-9.2
-8.0
-2.8
-4.4
2.4
-13.6
-26.4
-15.6
-11.2
-12.9
760.5
7.3
6.4
1.9
1.7
2.9
13.4
9.9
3.3
3.2
0.9
0.6
2.8
7.0
12.5
1.1
8.8
7.6
2.4
5.4
5.3
-0.7
-1.6
2.6
13.3
18.9
-11.4
15.8
4.4
-7.2
8.7
7.8
-0.8
-1.8
2.5
18.7
20.2
-23.9
23.0
3.7
-62.5
-0.9
0.4
-0.5
-1.2
2.9
1.7
4.5
III
3.5
3.6
1.6
1.4
2.8
6.7
19.7
4.7
6.3
7.1
3.9
7.1
7.5
3.7
4.1
2.4
12.3
32.1
13.8
10.0
12.4
60.5
9.6
10.5
4.2
4.8
2.3
17.9
34.8
26.4
14.8
5.4
265.7
2.0
1.6
2.9
3.0
2.5
-0.3
1.6
IV
2.0
1.8
1.7
1.5
3.0
2.0
-0.6
-0.5
3.1
3.7
0.7
1.6
0.9
1.3
0.9
2.5
0.4
-3.1
-20.7
3.5
-3.9
-50.9
1.3
0.2
1.1
0.7
2.6
-0.8
-4.0
—44.4
4.7
4.1
-80.2
2.2
2.3
1.5
1.4
2.1
3.5
9.5
I
3.1
2.9
2.3
2.2
3.1
3.9
8.5
1.0
4.6
-5.6
2.4
4.4
4.1
3.7
4.0
2.6
4.7
13.1
-10.7
5.6
-1.2
-22.1
5.8
5.4
3.1
3.2
2.7
8.0
13.5
-17.3
9.5
-0.5
-39.7
1.6
1.5
4.8
5.3
2.1
-3.2
7.4
-2.0
3.9
-1.4
-18.8
1.4
1.4
1.0
0.8
2.8
2.1
2.5
2.5
1.8
6.5
1.2
0.9
-0.6
3.9
-2.5
-1.2
0.3
-9.9
1.9
2.0
1.4
1.2
2.9
3.2
3.6
3.3
3.1
6.9
2.5
2.2
2.0
3.5
5.8
15.2
-9.0
-36.3
2.0
2.3
1.6
1.5
2.7
3.6
4.4
3.5
3.7
12.4
2.8
2.0
2.0
4.6
6.6
1.1
5.0
130.8
2.0
2.2
1.6
1.4
3.0
3.3
3.8
3.3
3.2
8.3
2.7
2.4
2.4
3.2
-2.2
-0.6
18.2
-28.6
1.3
1.7
0.8
0.4
3.2
3.3
3.2
3.3
3.3
6.1
2.8
2.4
2.4
3.7
19.4
0.8
-9.7
18.0
2.2
2.3
1.9
1.7
3.4
3.0
3.3
3.2
2.8
5.3
2.5
2.4
2.4
2.6
-3.5
-3.5
-1.8
-5.8
2.3
2.3
1.7
1.5
3.6
3.4
2.0
2.9
3.7
-6.5
3.0
2.4
2.4
4.3
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
D-26
June 2008
N a t io n a l D a t a
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 20 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2006
2007
2007
I
G overnm ent consum ption 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........................................................................................................
Federal consum ption expenditures 1.....
...............................................
Gross output of general government................................................................................................
Value added..................................
...............................................
Compensation of general government employees..................................................................
Consumption of general government fixed capital2...............................................................
Intermediate goods and services purchased3............................................................................
Durable goods..............................................................................................................................
Nondurable goods........................................................................................................................
Services........................................................................................................................................
Less: Own-account investm ent4.......................................................................................................
Sales to other sectors.............................................................................................................
Defense consum ption expenditures 1 ..............................................................................................
Gross output of general government.................................................................................................
Value a d d e d .....................................................................................................................................
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.............................................................................................................
Nondefense consum ption 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 investm ent4.............................
Sales to other sectors...................................
State and local consum ption 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..........................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
II
2008
III
IV
I
114.368
114.071
107.192
105.667
116.517
126.940
128.231
117.899
130.063
116.517
112.053
126.034
125.631
106.820
105.772
111.028
157.984
143.691
149.000
161.583
112.708
102.376
129.575
129.717
107.494
107.637
108.011
167.183
141.094
133.472
177.435
140.320
147.845
119.543
118.353
105.645
102.962
119.594
141.004
178.140
116.593
116.409
108.435
106.586
119.789
131.358
133.603
119.517
135.532
123.127
114.766
128.683
128.213
107.410
105.728
114.036
164.212
150.317
135.342
170.523
112.925
100.697
133.524
133.702
107.838
107.220
110.747
177.720
148.137
113.711
192.877
140.348
160.161
119.755
118.375
106.679
103.515
123.398
139.132
178.443
115.247
115.076
107.919
106.188
118.535
128.476
127.776
118.617
132.110
120.115
113.647
126.196
125.754
106.978
105.458
112.983
158.023
140.661
138.189
163.528
110.649
100.409
129.843
130.155
107.373
106.923
109.744
168.584
138.051
120.349
181.716
138.121
178.601
119.498
117.895
106.308
103.286
122.197
138.449
175.633
116.183
115.991
108.157
106.334
119.354
130.677
131.586
118.946
134.924
122.341
114.328
127.877
127.389
106.789
105.032
113.706
163.031
146.883
134.064
169.632
111.848
98.560
132.566
132.631
107.159
106.429
110.416
175.960
144.543
112.414
191.360
139.387
139.761
119.232
118.001
106.163
102.969
123.068
139.035
177.557
117.184
117.019
108.597
106.711
120.191
132.817
137.628
120.325
137.014
124.464
115.440
130.074
129.714
107.765
106.087
114.378
167.818
157.472
138.464
173.705
115.168
110.934
135.626
135.980
108.256
107.674
111.055
183.360
155.760
119.185
198.068
141.233
193.275
119.816
118.463
106.920
103.722
123.835
138.929
178.243
117.758
117.549
109.066
107.113
121.077
133.463
137.421
120.180
138.079
125.587
115.651
130.586
129.994
108.107
106.336
115.079
167.977
156.251
130.653
175.225
114.036
92.884
136.062
136.043
108.564
107.854
111.771
182.975
154.193
102.898
200.363
142.652
129.006
120.473
119.140
107.323
104.082
124.491
140.114
182.339
118.667
118.402
109.695
107.692
122.012
134.733
140.268
120.491
139.634
123.783
116.347
132.009
131.320
109.093
107.388
115.807
169.909
161.120
127.007
177.626
113.679
87.271
137.981
137.853
109.399
108.717
112.521
186.525
159.155
98.137
204.971
142.474
113.665
120.965
119.583
108.584
105.439
125.150
138.997
185.617
187.929
135.863
97.908
82.691
107.966
108.928
107.352
105.653
121.755
111.909
110.113
113.376
111.283
117.544
112.366
104.532
109.258
123.261
183.176
134.249
98.230
74.544
109.965
111.161
108.880
106.946
125.265
115.487
114.077
117.150
114.725
125.630
115.202
106.858
111.393
127.624
179.457
134.001
95.916
65.585
109.235
110.322
108.326
106.497
123.835
114.109
112.603
115.730
113.376
122.446
114.059
105.901
110.396
126.102
182.358
134.376
97.083
80.836
109.768
110.920
108.753
106.866
124.741
115.034
113.658
116.673
114.282
124.911
114.810
106.537
111.058
127.087
181.335
134.180
101.235
74.309
110.126
111.381
108.959
106.980
125.720
115.977
114.560
117.629
115.221
126.762
115.612
107.176
111.724
128.237
189.554
134.440
98.685
77.447
110.731
112.019
109.482
107.440
126.765
116.830
115.486
118.568
116.020
128.401
116.325
107.819
112.394
129.071
187.881
133.262
98.226
76.290
111.368
112.666
109.956
107.838
127.876
117.798
116.071
119.430
117.082
126.265
117.195
108.467
113.068
130.433
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.
June 2008
S urvey
of
D-27
C u r r e n t B u s in e s s
Table 3.10.4. Price Indexes for Government Consumption Expenditures and
General Government Gross Output
[Index numbers, 2 0 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2006
2007
2007
I
G overnment consum ption expenditures ' ..................................................................................
Gross output of general government............................................................................................
Value added.................................................................................................................................
Compensation of general government employees............................................................
Consumption of general government fixed ca p ita l2..........................................................
Intermediate goods and services purchased 3.......................................................................
Durable g oods........................................................................................................................
Nondurable goods..
Services...................................................................................................................................
Less: Own-account investment4..................................................................................................
Sales to other sectors........................................................................................................
Federal consum ption 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............................................................................................................
Defense consum ption expenditures 1 ..........................................................
Gross output of general government................................................................................................
Value added.....................................................................................................................................
Compensation of general government employees..................................................................
Consumption of general government fixed ca p ita l2..............................................................
Intermediate goods and services purchased 3............................................................................
Durable goods..............................................................................................................................
Nondurable goods.
Services.......................
Less: Own-account investment4.......................................................................................................
Sales to other sectors............................................................................................................
Nondefense consum ption 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............................................................................................................
State and local consum ption expenditures 1...........................................................................................
Gross output of general government................................................................................................
Value added...........................................................
Compensation of general government employees..................................................................
Consumption of general government fixed cap ita l2..............................................................
Intermediate goods and services purchased3...........................................................................
Durable goods..............................................................................................................................
Nondurable goods....
Services.......................
Less: Own-account investment4.......................................................................................................
Sales to other sectors............................................................................................................
Tuition and related educational charges.........................................................................
Health and hospital charges.............................................................................................
Other sales .......................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
II
2008
III
IV
I
128.913
128.751
130.963
133.898
115.342
124.915
106.644
139.788
122.021
124.481
128.038
129.158
129.071
136.135
145.283
109.690
119.874
104.918
133.912
120.224
130.247
119.306
130.776
130.756
138.746
150.292
111.115
120.899
106.276
149.951
121.101
132.288
126.284
126.083
125.925
131.605
137.719
106.005
117.744
90.365
134.469
134.279
136.652
139.640
120.714
130.162
107.448
148.792
126.569
129.175
133.465
133.216
133.123
140.769
150.801
111.892
123.233
104.660
140.268
123.841
134.706
122.657
134.834
134.817
143.517
156.056
113.591
124.191
106.210
160.281
124.653
136.534
130.750
130.143
129.961
136.003
142.866
107.512
121.257
88.128
132.048
131.929
134.834
137.767
119.183
127.026
107.552
139.635
125.007
127.359
131.517
131.684
131.597
139.564
149.483
111.006
121.388
105.392
130.563
122.430
133.406
121.543
133.137
133.124
142.214
154.678
112.473
122.152
106.927
142.638
123.169
135.106
129.371
128.942
128.765
134.967
141.638
107.212
119.861
89.014
133.974
133.761
136.167
139.121
120.401
129.599
107.330
147.682
126.122
128.687
132.792
133.085
132.991
140.938
151.006
111.965
122.787
104.646
137.752
123.529
134.742
122.292
134.637
134.620
143.685
156.216
113.775
123.652
106.179
156.088
124.237
136.663
130.380
130.150
129.962
136.176
143.139
107.305
121.034
88.304
135.019
134.814
137.252
140.272
121.151
130.602
107.424
148.892
127.157
129.697
133.900
133.603
133.507
141.032
151.087
112.091
123.741
104.367
141.273
124.399
135.047
122.749
135.222
135.203
143.759
156.270
113.891
124.711
105.917
161.201
125.265
136.874
130.909
130.532
130.344
136.303
143.260
107.456
121.745
87.837
136.834
136.614
138.355
141.401
122.121
133.421
107.486
158.960
127.988
130.957
135.650
134.491
134.397
141.542
151.630
112.507
125.016
104.234
151.484
125.005
135.628
124.043
136.341
136.323
144.411
157.061
114.226
126.249
105.816
181.195
125.942
137.492
132.342
130.948
130.774
136.567
143.425
108.078
122.388
87.357
139.378
138.978
140.126
143.306
123.229
136.647
107.999
169.405
129.250
132.598
136.933
136.662
136.557
144.460
155.338
113.281
126.352
104.391
157.031
126.118
137.688
124.964
138.404
138.386
147.334
160.832
115.217
127.469
106.041
190.768
126.871
139.644
134.316
133.348
133.134
139.478
147.041
108.300
124.011
86.793
117.297
118.792
128.510
115.161
128.822
128.634
128.806
129.888
120.345
128.318
108.957
140.782
123.524
123.069
128.251
152.765
125.943
116.873
120.884
122.553
133.129
117.521
135.331
134.915
134.933
135.710
128.501
134.856
111.415
150.265
128.880
127.801
133.736
162.302
130.074
121.923
118.107
121.309
131.931
116.636
132.344
132.144
132.863
133.645
126.404
130.835
110.544
141.203
127.185
125.888
131.766
158.797
128.582
120.160
119.682
122.480
133.094
117.151
134.602
134.197
134.179
134.941
127.850
134.206
111.119
149.400
128.314
127.211
133.055
161.166
129.443
121.423
121.821
122.992
133.470
117.549
135.984
135.525
135.671
136.460
129.148
135.242
111.809
150.207
129.494
128.357
134.181
163.242
130.323
122.357
123.926
123.430
134.023
118.747
138.396
137.793
137.020
137.792
130.602
139.140
112.190
160.250
130.528
129.748
135.942
166.004
131.946
123.753
126.303
124.996
136.007
118.978
141.180
140.263
138.316
139.070
132.003
143.684
113.282
171.493
131.923
131.303
137.234
168.654
132.452
125.339
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-28
June 2008
N a t io n a l D a t a
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2,089.3
2,441.5
1,501.5
1,277.9
223.6
940.0
60.3
239.5
640.2
26.2
325.9
812.8
825.6
458.6
359.2
99.4
367.0
36.2
37.7
293.1
4.7
8.1
544.8
550.5
297.1
224.8
72.3
253.5
33.4
20.9
199.2
2.1
3.6
268.0
275.1
161.5
134.4
27.1
113.6
2.8
16.9
-0.1
16.9
93.8
2.6
4.5
1,276.5
1,615.8
1,042.9
918.7
124.2
572.9
24.1
201.7
347.1
21.5
317.9
70.8
145.2
101.9
2,221.9
2,598.7
1,584.9
1,344.3
240.6
1,013.8
63.3
258.5
692.0
28.8
348.0
856.0
869.1
476.8
372.7
104.1
392.3
37.8
35.9
318.7
4.9
8.2
578.9
585.1
308.3
232.5
75.8
276.9
35.0
18.9
223.0
2.2
4.1
277.2
284.0
168.6
140.2
28.4
115.4
2.8
17.0
-0.1
17.0
95.7
2.7
4.1
1,365.9
1,729.5
1,108.1
971.6
136.5
621.5
25.5
222.6
373.4
23.9
339.8
76.9
152.9
110.1
2007
I
G overnment consum ption expenditures 1..................................................................................
Gross output of general government............................................................................................
Value added.................................................................................................................................
Compensation of general government employees............................................................
Consumption of general government fixed ca p ita l2..........................................................
Intermediate goods and services purchased 3.......................................................................
Durable goods.........................................................................................................................
Nondurable goods..................................................................................................................
Services....................................................................................................................................
Less: Own-account investment4...................................................................................................
Sales to other sectors........................................................................................................
Federal consum ption 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.............................................................................................................
Defense consum ption 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 investm ent4.......................................................................................................
Sales to other sectors.............................................................................................................
Nondefense consum ption 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.............................................................................................................
State and local consum ption 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..........................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
61
52
53
54
55
56
57
58
59
60
2,156.5
2,523.7
1,556.3
1,321.3
235.0
967.4
60.6
240.7
666.2
27.7
339.5
829.8
842.6
470.8
368.5
102.3
371.8
35.6
34.1
302.0
4.8
8.1
555.7
562.4
304.1
229.8
74.3
258.2
32.9
17.9
207.5
2.1
4.5
274.0
280.2
166.7
138.7
28.0
113.5
2.8
16.2
-0.1
16.3
94.5
2.7
3.6
1,326.7
1,681.1
1,085.5
952.8
132.7
595.6
25.0
206.6
364.1
22.9
331.5
74.5
149.8
107.2
II
2,205.7
2,579.1
1,575.2
1,336.1
239.1
1,003.9
62.3
255.2
686.4
28.5
344.9
849.8
862.6
474.6
370.8
103.9
388.0
36.9
34.9
316.1
4.9
8.0
573.8
579.5
306.7
231.0
75.7
272.8
34.2
18.3
220.4
2.2
3.6
276.0
283.1
168.0
139.7
28.2
115.1
2.8
16.6
-0.1
16.8
95.7
2.7
4.4
1,355.9
1,716.5
1,100.5
965.3
135.2
615.9
25.3
220.3
370.3
23.6
336.9
76.1
151.7
109.1
2008
III
2,242.1
2,622.4
1,594.2
1,351.9
242.3
1,028.3
65.2
260.3
702.8
29.2
351.2
867.7
881.8
479.3
374.7
104.6
402.5
39.5
37.0
326.0
5.0
9.0
589.6
596.7
310.0
233.8
76.2
286.7
36.7
20.0
230.0
2.2
4.9
278.1
285.1
169.3
140.9
28.4
115.7
2.8
17.0
0.0
17.0
96.0
2.8
4.1
1,374.3
1,740.7
1,114.9
977.2
137.6
625.8
25.7
223.3
376.8
24.2
342.1
77.5
153.6
111.0
IV
2,283.3
2,669.5
1,613.9
1,367.9
246.0
1,055.6
65.1
277.6
712.9
29.8
356.4
876.9
889.6
482.6
376.9
105.6
407.0
39.1
37.4
330.5
5.0
7.6
596.4
601.9
312.3
235.4
76.9
289.7
36.3
19.4
233.9
2.2
3.3
280.5
287.6
170.3
141.5
28.8
117.3
2.8
18.0
0.0
18.1
96.5
2.8
4.3
1,406.4
1,779.9
1,131.4
991.0
140.4
648.6
26.0
240.2
382.4
24.8
348.8
79.3
156.5
113.0
I
2,343.7
2,735.4
1,644.0
1,393.9
250.1
1,091.4
66.8
296.6
728.0
29.7
361.9
900.8
913.1
497.0
389.9
107.0
416.1
40.4
37.7
338.0
5.1
7.2
613.9
619.2
321.0
242.9
78.1
298.1
37.6
19.5
241.1
2.3
3.0
286.9
293.9
176.0
147.0
29.0
117.9
2.8
18.2
0.0
18.2
96.9
2.8
4.2
1,442.9
1,822.3
1,147.0
1,003.9
143.1
675.3
26.4
258.9
390.0
24.6
354.7
81.1
158.0
115.6
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 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.
June 2008
Survey
of
D-29
C u r r e n t B u s in e s s
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
2006
2007
2007
I
G overnment consum ption expenditures 1..................................................................................
Gross output of general government............................................................................................
Value added.................................................................................................................................
Compensation of general government em ployees............................................................
Consumption of general government fixed ca p ita l2..........................................................
Intermediate goods and services purchased 3.......................................................................
Durable g oods........................................................................................................................
Nondurable g oods..................................................................................................................
Services...................................................................................................................................
Less: Own-account investment4..................................................................................................
Sales to other sectors........................................................................................................
Federal consum ption expenditures 1.........................................................................................................
Gross output of general government................................................................................................
Value added.....................................................................................................................................
Compensation of general government employees..................................................................
Consumption of general government fixed ca p ita l2..............................................................
Intermediate goods and services purchased 3............................................................................
Durable goods..............................................................................................................................
Nondurable goods.......................................................................................................................
Services........................................................................................................................................
Less: Own-account investment4.......................................................................................................
Sales to other sectors............................................................................................................
Defense consum ption 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............................................................................................................
Nondefense consum ption 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............................................................................................................
State and local consum ption 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..........................................................................................................................
Residual..............................................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
1,620.7
1,896.3
1,146.5
954.4
193.9
752.5
56.5
171.3
524.7
21.1
254.6
629.3
639.7
336.9
247.3
90.6
306.2
34.5
28.2
243.8
3.6
6.8
416.6
421.0
214.1
149.6
65.1
209.7
31.4
13.9
164.5
1.6
2.9
212.6
218.5
122.7
97.6
25.6
96.5
3.1
14.3
-0.1
14.4
79.0
2.1
3.9
990.9
1,256.2
809.7
707.3
103.2
446.5
22.1
143.3
281.0
17.5
247.8
46.3
115.3
87.2
-3.5
1,652.2
1,935.1
1,159.8
962.7
199.3
778.7
58.9
173.7
546.7
22.3
260.7
642.5
652.8
338.7
247.2
93.1
318.3
36.1
25.6
257.3
3.7
6.7
429.3
434.0
214.8
149.0
66.7
222.9
33.0
11.9
178.8
1.6
3.1
213.0
218.5
124.0
98.1
26.4
95.2
3.1
14.0
-0.1
14.1
78.1
2.1
3.5
1,009.2
1,281.9
821.2
715.9
106.2
460.8
22.9
148.1
289.7
18.7
254.1
47.4
117.5
90.3
-5.5
1,633.2
1,913.0
1,154.3
959.1
197.2
761.6
56.3
172.4
532.9
21.7
258.2
630.1
640.3
337.4
246.5
92.2
306.3
33.8
26.1
246.7
3.6
6.6
417.4
422.5
213.9
148.6
66.1
211.4
30.7
12.5
168.5
1.6
3.5
212.5
217.6
123.5
97.9
26.1
94.7
3.1
13.7
-0.1
13.8
77.9
2.0
3.1
1,002.5
1,272.2
817.0
712.9
105.0
455.3
22.6
146.3
286.3
18.2
251.6
46.9
116.5
89.2
-4.0
II
1,646.4
1,928.2
1,156.8
960.4
198.6
774.6
58.0
172.8
544.3
22.1
259.7
638.5
648.6
336.8
245.5
92.8
316.0
35.3
25.4
255.9
3.6
6.5
426.2
430.5
213.4
147.9
66.5
220.7
32.2
11.7
177.4
1.6
2.7
212.0
217.8
123.4
97.6
26.3
95.1
3.1
13.9
-0.1
14.0
78.1
2.0
3.8
1,007.4
1,279.1
820.2
715.4
105.8
459.0
22.8
147.5
288.6
18.6
253.2
47.2
117.2
89.9
-5.4
2008
III
1,660.6
1,945.3
1,161.5
963.8
200.0
787.3
60.7
174.8
552.7
22.5
262.3
649.5
660.5
339.9
248.0
93.3
325.2
37.8
26.2
262.1
3.7
7.3
436.0
441.4
215.6
149.6
66.9
229.9
34.7
12.4
183.6
1.6
3.8
213.1
218.7
124.2
98.3
26.5
95.0
3.1
13.9
0.0
13.9
78.0
2.1
3.5
1,010.7
1,284.4
821.8
716.2
106.6
462.7
23.0
148.7
291.0
18.8
255.0
47.5
117.9
90.7
-6.0
IV
1,668.7
1,954.1
1,166.6
967.4
201.5
791.1
60.6
174.6
557.0
22.7
262.7
652.0
661.9
340.9
248.6
93.9
325.6
37.5
24.7
264.4
3.7
6.2
437.4
441.6
216.2
149.9
67.3
229.5
34.3
10.7
185.8
1.6
2.5
214.2
219.9
124.7
98.7
26.6
95.8
3.2
14.5
0.0
14.6
78.2
2.1
3.6
1,016.3
1,291.8
825.7
719.2
107.5
466.1
23.2
149.9
293.0
19.1
256.6
47.8
118.6
91.3
-6.8
I
1,681.6
1,968.3
1,173.3
972.7
203.0
798.7
61.8
175.1
563.3
22.4
264.3
659.1
668.6
344.0
251.0
94.5
329.3
38.7
24.0
268.0
3.7
5.8
443.6
447.4
217.9
151.1
67.8
233.9
35.4
10.2
190.0
1.6
2.2
215.1
220.7
126.2
100.0
26.8
95.1
3.3
14.4
0.0
14.4
77.5
2.1
3.6
1,022.1
1,299.3
829.3
721.9
108.4
470.0
23.3
150.9
295.7
18.8
258.5
48.1
119.3
92.3
-7.1
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost ot 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
June 2008
N a t io n a l D a t a
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
National defense consum ption expenditures and gross in ve stm e n t.......................................
Consum ption expenditures 1.......................................................................................................................
Gross output of general government..........................................................................................................
Value added...............................................................................................................................................
Compensation of general government employees...........................................................................
M ilitary...............................................................................................................................................
C ivilian...............................................................................................................................................
Consumption of general government fixed c a p ita l2.......................................................................
Intermediate goods and services purchased 3....................................................................................
Durable goods.......................................................................................................................................
A ircraft...............................................................................................................................................
Missiles..............................................................................................................................................
Ships..................................................................................................................................................
Vehicles..............................................................................................................................................
Electronics........................................................................................................................................
Other durable goods........................................................................................................................
Nondurable goods................................................................................................................................
Petroleum products..........................................................................................................................
Ammunition.......................................................................................................................................
Other nondurable goods.................................................................................................................
Services.................................................................................................................................................
Research and development...........................................................................................................
Installation support..........................................................................................................................
Weapons support.............................................................................................................................
Personnel support............................................................................................................................
Transportation of m aterial...............................................................................................................
Travel of persons..............................................................................................................................
Less: Own-account investm ent4 ................................................................................................................
Sales to other sectors.....................................................................................................................
Gross in ve stm e n t5.........................................................................................................................................
Structures........................................................................................................................................................
Equipment and software..............................................................................................................................
Aircraft........................................................................................................................................................
Missiles......................................................................................................................................................
Ships...........................................................................................................................................................
Vehicles......................................................................................................................................................
Electronics and software..........................................................................................................................
Other equipment.......................................................................................................................................
1
2
3
4
5
6
/
8
y
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2b
26
21
28
29
30
31
32
33
34
35
36
37
38
2006
1.9
1.2
1.2
-0.5
-1.6
-2.4
0.0
3.0
3.3
8.5
1.6
20.8
5.5
27.5
16.5
4.3
-7.6
0.2
-4.7
-21.8
3.7
8.3
1.3
1.3
7.2
-5.9
-19.1
-2.0
6.8
6.9
-1.0
7.6
2.7
16.4
0.5
24.1
12.0
6.9
2007
2.8
3.0
3.1
0.3
-0.4
-0.8
0.5
2.5
6.3
5.0
4.9
5.7
0.3
-14.7
20.3
-2.4
-14.8
4.6
-3.5
-62.8
8.7
-0.6
5.4
19.3
14.8
18.8
-3.1
0.0
8.3
0.8
11.1
-0.1
-3.4
-7.2
-6.2
23.7
15.3
-7.5
2007
I
II
-10.8
-9.2
-8.0
-2.8
-4.4
-4.6
-4.0
2.4
-13.6
-26.4
-56.5
3.3
7.3
-59.6
14.5
-9.0
-15.6
54.2
-11.5
-88.5
-11.2
-7.3
-12.7
-30.9
-9.6
38.6
-6.1
-12.9
760.5
-20.6
-43.4
-18.0
-32.1
-8.3
-30.3
6.7
10.6
-24.7
8.5
8.7
7.8
-0.8
-1.8
-2.4
-0.6
2.5
18.7
20.2
49.0
12.0
-3.1
91.9
36.7
-20.9
-23.9
-1.0
-41.0
-71.1
23.0
-9.4
30.3
92.0
32.4
16.0
-10.7
3.7
-62.5
7.6
20.4
6.5
21.8
-59.3
5.5
216.9
27.7
-18.7
2008
III
10.1
9.6
10.5
4.2
4.8
6.0
2.2
2.3
17.9
34.8
45.3
9.7
97.3
-36.1
36.8
43.0
26.4
17.8
95.2
-20.2
14.8
-20.2
15.3
43.7
39.2
5.8
-1.5
5.4
265.7
13.7
40.5
11.4
-0.6
-43.3
-0.8
16.7
31.4
22.9
IV
I
-0.5
1.3
0.2
1.1
0.7
-1.0
4.3
2.6
-0.8
-4.0
25.3
32.7
-51.9
-8.7
-24.2
-22.4
-44.4
-51.1
-39.9
20.4
4.7
21.7
1.0
-4.2
2.3
13.8
-28.3
4.1
-80.2
-12.7
19.5
-15.5
-38.5
18.2
40.8
-40.5
-15.5
-16.7
5.6
5.8
5.4
3.1
3.2
5.8
-1.9
2.7
8.0
13.5
-24.0
-17.5
13.4
182.5
107.3
10.6
-17.3
-24.6
75.9
-74.6
9.5
-8.4
7.8
21.8
24.1
2.1
-23.6
-0.5
-39.7
4.6
-11.7
6.5
-19.7
-20.2
-45.0
260.5
45.3
-4.1
1. National defense consumption expenditures are defense services produced by government that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures.
June 2008
S urvey
of
D-31
C u r r e n t B u s in e s s
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 num bers, 2 0 0 0 = 1 0 0 ]
[Index num bers, 20 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2006
2007
2007
I
National defense
consum ption
expenditures and gross
investm ent...........................
C onsum ption expenditures 1.......
Gross output of general
government...............................
Value added.............................
Compensation of general
government employees...
M ilitary...............................
Civilian...............................
Consumption of general
government fixed ca p ita l2
Intermediate goods and
services purchased 3 ..........
Durable goods......................
Aircraft...............................
M issiles............................
S hips.................................
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....
G ross in v e s tm e n t5.........................
Structures......................................
Equipment and software..............
Aircraft.......................................
Missiles......................................
S hips..........................................
Vehicles.....................................
Electronics and software.........
Other equipment.......................
II
Seasonally adjusted
IV
3 129.717 133.702 130.155 132.631 135.980 136.043 137.853
4 107.494 107.838 107.373 107.159 108.256 108.564 109.399
b 107.637 107.220 106.923 106.429 107.674 107.854 108.717
6 109.510 108.631 108.401 107.743 109.327 109.052 110.592
7 104.423 104.940 104.505 104.341 104.903 106.012 105.499
110.747 109.744 110.416 111.055 111.771
112.521
9
10
11
12
13
14
15
16
17
18
19
20
21
167.183
141.094
105.904
157.206
103.312
183.228
233.937
155.459
133.472
134.369
189.746
104.745
177.435
177.720
148.137
111.102
166.127
103.584
156.381
281.530
151.664
113.711
140.580
183.078
38.942
192.877
168.584
138.051
96.594
157.777
99.895
146.887
259.358
153.888
120.349
143.968
191.446
49.423
181.716
175.960
144.543
106.712
162.316
99.121
172.894
280.444
145.132
112.414
143.613
167.822
36.234
191.360
183.360
155.760
117.156
166.115
117.478
154.606
303.308
158.703
119.185
149.626
198.361
34.243
198.068
182.975
154.193
123.945
178.302
97.842
151.138
283.010
148.931
102.898
125.114
174.682
35.869
200.363
186.525
159.155
115.725
169.942
100.964
195.935
339.606
152.734
98.137
116.581
201.161
25.466
204.971
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
175.901
130.010
235.674
226.604
138.440
118.749
140.320
147.845
157.016
93.294
165.077
211.329
160.806
126.521
269.779
159.138
156.427
174.789
137.041
281.106
260.102
164.528
115.016
140.348
160.161
158.342
103.686
164.992
204.101
149.158
118.700
333.849
183.506
144.726
180.839
127.930
237.176
235.951
157.550
120.067
138.121
178.601
154.971
94.677
162.560
202.676
185.640
115.060
270.395
171.007
148.247
176.433
136.668
279.181
253.084
163.498
116.710
139.387
139.761
157.839
99.180
165.133
212.901
148.260
116.607
360.770
181.793
140.782
166.747
141.613
305.652
274.888
165.803
116.283
141.233
193.275
162.994
107.989
169.639
212.574
128.625
116.372
374.948
194.638
148.240
175.139
141.954
302.415
276.484
171.260
107.004
142.652
129.006
157.566
112.898
162.635
188.252
134.106
126.762
329.283
186.587
141.634
171.318
144.660
317.728
291.827
172.165
100.034
142.474
113.665
159.351
109.449
165.230
178.212
126.741
109.180
453.732
204.852
140.163
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
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.
2006
2007
2007
I
I
1 132.722 136.400 132.744 135.488 138.775 138.592 140.500
2 129.575 133.524 129.843 132.566 135.626 136.062 137.981
8 108.011
Line
2008
III
National defense
consum ption
expenditures and gross
investm ent...........................
C onsum ption expenditures 1........
Gross output of general
government................................
Value added...............................
Compensation of general
government em ployees...
M ilitary...............................
Civilian...............................
Consumption of general
government fixed ca p ita l2
Intermediate goods and
services purchased 3...........
Durable g oods......................
Aircraft...............................
Missiles..............................
Ships..................................
Vehicles............................
Electronics........................
Other durable goods........
Nondurable goods...............
Petroleum products..........
Ammunition.......................
Other nondurable goods
Services.................................
Research and
development................
Installation support..........
Weapons support............
Personnel support...........
Transportation of material
Travel of persons..............
Less: Own-account investm ent4
Sales to other sectors.....
Gross in v e s tm e n t5.........................
Structures......................................
Equipment and software..............
Aircraft.......................................
Missiles......................................
Ships...........................................
Vehicles.....................................
Electronics and software..........
Other equipment.......................
II
2008
III
IV
I
1 127.027 130.681 129.153 130.454 131.069 132.049 133.937
2 130.776 134.834 133.137 134.637 135.222 136.341 138.404
3 130.756 134.817 133.124 134.620 135.203 136.323 138.386
4 138.746 143.517 142.214 143.685 143.759 144.411 147.334
5 150.292 156.056 154.678 156.216 156.270 157.061 160.832
6 156.194 162.290 160.806 162.382 162.418 163.553 167.376
7 138.875 144.007 142.830 144.293 144.381 144.525 148.191
112.473 113.775 113.891
114.226 115.217
9
10
11
12
13
14
15
16
17
18
19
20
21
120.899
106.276
107.715
109.822
109.940
118.168
95.503
106.618
149.951
210.537
119.183
110.952
121.101
124.191
106.210
106.105
111.033
108.691
119.576
95.586
107.821
160.281
226.185
122.689
113.891
124.653
122.152
106.927
107.819
111.841
109.702
120.173
95.952
107.403
142.638
190.903
121.552
111.957
123.169
123.652
106.179
106.299
110.419
109.028
119.411
95.627
107.617
156.088
217.625
122.628
113.746
124.237
124.711
105.917
105.375
110.935
107.754
118.513
95.422
108.149
161.201
227.479
123.209
114.469
125.265
126.249
105.816
104.927
110.938
108.281
120.208
95.341
108.114
181.195
268.733
123.368
115.391
125.942
127.469
106.041
104.672
111.217
108.240
120.120
95.553
109.162
190.768
288.402
123.686
117.420
126.871
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
120.521
123.975
116.120
119.931
127.426
128.893
132.288
126.284
103.760
136.013
101.166
83.537
103.544
128.660
98.563
88.829
108.195
123.756
128.482
118.471
124.173
128.718
131.010
136.534
130.750
105.127
143.387
102.123
84.059
104.239
134.904
99.583
87.615
109.190
122.500
126.348
117.857
122.837
126.150
127.455
135.106
129.371
104.564
141.543
101.648
82.313
103.900
132.084
100.024
88.401
109.143
123.299
127.993
117.844
123.877
128.216
131.193
136.663
130.380
104.741
143.170
101.727
82.741
103.235
135.597
98.141
87.944
108.892
124.233
129.462
118.960
124.598
129.686
132.480
136.874
130.909
105.511
144.267
102.472
84.396
104.553
136.027
100.135
87.242
109.783
124.991
130.124
119.225
125.380
130.822
132.912
137.492
132.342
105.692
144.568
102.644
86.786
105.266
135.908
100.034
86.872
108.940
126.402
131.340
119.944
125.515
133.105
136.983
139.644
134.316
106.561
145.660
103.495
86.990
104.466
138.919
100.645
86.620
110.755
8 111.115 113.591
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
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
D-32
June 2008
N a t io n a l D a t a
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
Line
2006
2007
2007
I
National defense
consum ption expenditures
and gross investment
Consum ption expenditures 1........
Gross output of general
governm ent................................
Value a dded...............................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed c a p ita l2
Intermediate goods and
services purchased 3 ...........
Durable goods.......................
Aircraft................................
M issiles..............................
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
G ross in v e s tm e n t5..........................
Structures........................................
Equipment and software...............
Aircraft.........................................
Missiles........................................
S hip s...........................................
Vehicles......................................
Electronics and software
Other equipment........................
1
2
II
Seasonally adjusted at annual rates
2008
III
IV
2006
2007
624.3
544.8
660.1
578.9
634.8
555.7
654.5
573.8
673.5
589.6
677.7
596.4
696.8
613.9
3
4
550.5
297.1
585.1
308.3
562.4
304.1
579.5
306.7
596.7
310.0
601.9
312.3
619.2
321.0
5
6
7
224.8
153.0
71.8
232.5
157.7
74.8
229.8
155.9
73.9
231.0
156.5
74.6
233.8
158.8
75.0
235.4
159.5
75.9
242.9
165.5
77.4
8
72.3
75.8
74.3
75.7
76.2
76.9
78.1
9
10
11
12
13
14
15
16
17
18
19
20
21
253.5
33.4
11.2
4.2
1.5
1.7
6.5
8.2
20.9
11.5
4.1
5.3
199.2
276.9
35.0
11.6
4.5
1.5
1.4
7.9
8.1
18.9
12.8
4.1
2.0
223.0
258.2
32.9
10.2
4.3
1.4
1.4
7.3
8.2
17.9
11.1
4.2
2.5
207.5
272.8
34.2
11.1
4.4
1.4
1.6
7.8
7.8
18.3
12.7
3.7
1.9
220.4
286.7
36.7
12.1
4.5
1.7
1.4
8.4
8.5
20.0
13.8
4.4
1.8
230.0
289.7
36.3
12.8
4.9
1.4
1.4
7.9
8.0
19.4
13.6
3.9
1.9
233.9
298.1
37.6
11.9
4.6
1.4
1.8
9.5
8.3
19.5
13.6
4.5
1.4
241.1
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
55.7
40.2
26.2
62.4
7.6
7.2
2.1
3.6
79.5
6.3
73.2
13.7
4.5
10.7
4.9
14.3
25.2
56.8
43.9
31.9
74.1
9.1
7.1
2.2
4.1
81.2
7.4
73.9
13.3
4.2
10.5
6.1
16.3
23.5
58.2
40.3
26.8
66.5
8.5
7.2
2.1
4.5
79.1
6.6
72.4
12.9
5.2
10.0
5.0
15.3
24.1
57.1
43.6
31.5
71.9
9.0
7.2
2.2
3.6
80.7
7.0
73.6
13.7
4.1
10.4
6.5
16.2
22.8
54.4
45.7
34.8
78.6
9.2
7.2
2.2
4.9
83.9
7.7
76.2
13.9
3.6
10.4
6.9
17.2
24.2
57.5
46.0
34.5
79.5
9.6
6.7
2.2
3.3
81.3
8.1
73.2
12.7
3.8
11.3
6.0
16.4
22.9
56.9
47.4
36.5
84.0
9.9
6.4
2.3
3.0
82.9
7.9
75.0
12.0
3.6
10.0
8.4
17.9
23.1
2007
I
I
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.
Line
National defense
consum ption
expenditures and gross
investm ent...........................
Consum ption expenditures 1........
Gross output of general
government................................
Value added...............................
Compensation of general
government employees...
M ilitary...............................
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 investm ent4
Sales to other sectors.....
G ross in ve stm e n t5.........................
Structures......................................
Equipment and software..............
A ircraft.......................................
Missiles......................................
Ships...........................................
Vehicles.....................................
Electronics and software..........
Other equipment.......................
Residual..............................................
II
2008
III
IV
I
1
2
491.5
416.6
505.1
429.3
491.6
417.4
501.7
426.2
513.9
436.0
513.2
437.4
520.3
443.6
3
4
421.0
214.1
434.0
214.8
422.5
213.9
430.5
213.4
441.4
215.6
441.6
216.2
447.4
217.9
5
6
7
149.6
97.9
51.7
149.0
97.1
52.0
148.6
96.9
51.8
147.9
96.3
51.7
149.6
97.8
51.9
149.9
97.5
52.5
151.1
98.9
52.2
8
65.1
66.7
66.1
66.5
66.9
67.3
67.8
9
10
11
12
13
14
15
16
17
18
19
20
21
209.7
31.4
10.4
3.9
1.4
1.4
6.8
7.7
13.9
5.4
3.4
4.8
164.5
222.9
33.0
10.9
4.1
1.4
1.2
8.2
7.5
11.9
5.7
3.3
1.8
178.8
211.4
30.7
9.5
3.9
1.3
1.1
7.6
7.7
12.5
5.8
3.5
2.3
168.5
220.7
32.2
10.5
4.0
1.3
1.3
8.2
7.2
11.7
5.8
3.0
1.7
177.4
229.9
34.7
11.5
4.1
1.5
1.2
8.9
7.9
12.4
6.1
3.6
1.6
183.6
229.5
34.3
12.2
4.4
1.3
1.2
8.3
7.4
10.7
5.1
3.2
1.6
185.8
233.9
35.4
11.4
4.2
1.3
1.5
9.9
7.6
10.2
4.7
3.6
1.2
190.0
22
23
24
2b
26
27
28
29
30
31
32
33
34
35
36
37
38
39
46.2
32.4
22.6
52.0
6.0
5.6
1.6
2.9
76.6
4.6
72.4
16.4
4.3
8.3
4.9
16.1
23.3
-6.6
45.9
34.2
26.9
59.7
7.1
5.4
1.6
3.1
77.3
5.2
72.3
15.8
4.0
7.8
6.1
18.6
21.5
-8.3
47.5
31.9
22.7
54.1
6.8
5.6
1.6
3.5
75.6
4.7
71.3
15.7
5.0
7.6
4.9
17.3
22.0
-6.6
46.4
34.1
26.8
58.1
7.0
5.5
1.6
2.7
77.0
4.9
72.4
16.5
4.0
7.7
6.6
18.4
20.9
-8.4
43.8
35.3
29.3
63.1
7.1
5.5
1.6
3.8
79.6
5.4
74.4
16.5
3.5
7.7
6.9
19.7
22.0
-9.5
46.0
35.4
29.0
63.5
7.4
5.0
1.6
2.5
76.9
5.6
71.3
14.6
3.6
8.3
6.0
18.9
21.1
-9.1
45.0
36.1
30.5
67.0
7.4
4.7
1.6
2.2
77.8
5.4
72.4
13.8
3.4
7.2
8.3
20.7
20.8
-10.5
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and sen/ices 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.
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 is
the difference between the first line and the sum of the most detailed lines.
June 2008
4 .
F o r e ig n
S urvey
of
D-33
C u r r e n t B u s in e s s
T r a n s a c tio n s
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
C urrent receipts from the rest o f the w o rld .....................................................................................
E xports of goods and service s....................................................................................................................
Goods 1................................
....................
Durable......................................................................................................................................................
Nondurable...............................................................................................................................................
Services 1 ...
Income receipts
Wage and salary receipts............................................................................................................................
Income receipts on assets...........................................................................................................................
Interest.......................................................................................................................................................
Dividends
Reinvested earnings on U.S. direct investment abroad......................................................................
Current paym ents to the rest o f the w o rld .......................................................................................
Im ports of goods and services
Goods 1................................
Durable...........................
Nondurable.....................
Services 1......................................................................................................................................................
Income paym ents.................
Wage and salary payments.........................................................................................................................
Income payments on assets.......................................................................................................................
Interest............................
Dividends..................................................................................................................................................
Reinvested earnings on foreign direct investment in the United States............................................
C urrent taxes and transfer paym ents to the rest o f the w orld (n e t)...................................................
From persons (net)........................................................................................................................................
From government (net)................................................................................................................................
From business (net).....................................................................................................................................
Balance on current account, N IPAs..................................................................................................
Addenda:
Net lending or net borrowing (-), NIPAs.....................................................................................................
Balance on current account, NIPAs........................................................................................................
Less: Capital account transactions (n e t)2............................................................................................
II
2008
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
2,159.0
1,467.6
1,030.5
717.3
313.1
437.1
691.4
2.9
688.6
268.8
167.2
252.6
2,953.2
2,229.6
1,880.4
1,126.5
753.9
349.2
633.4
9.4
624.0
461.5
91.4
71.1
90.1
48.9
20.3
20.9
-794.1
2,460.5
1,643.0
1,152.9
790.4
362.5
490.1
817.5
3.0
814.5
323.5
198.0
293.0
3,171.3
2,351.0
1,979.4
1,171.8
807.6
371.6
721.8
10.0
711.7
558.3
62.4
91.0
98.5
51.1
25.2
22.2
-710.8
2,302.0
1,549.9
1,084.0
751.6
332.4
465.9
752.2
2.9
749.2
300.5
184.7
264.0
3,058.1
2,264.0
1,902.7
1,151.7
751.0
361.4
689.0
9.6
679.4
528.6
76.1
74.7
105.1
50.4
34.5
20.2
-756.0
2,412.9
1,598.7
1,115.2
766.7
348.5
483.5
814.2
2.9
811.2
328.6
189.9
292.8
3,143.4
2,312.9
1,947.2
1,153.0
794.2
365.7
743.5
10.0
733.5
565.5
66.4
101.6
86.9
50.5
15.0
21.5
-730.5
2,541.3
1,685.7
1,191.3
812.9
378.4
494.4
855.6
3.0
852.6
342.4
206.7
303.5
3,232.2
2,380.4
2,007.3
1,195.8
811.4
373.2
754.4
10.1
744.3
575.1
42.0
127.1
97.4
52.2
22.2
23.0
-690.9
2,585.8
1,737.7
1,221.1
830.3
390.9
516.5
848.1
3.0
845.1
322.6
210.9
311.5
3,251.5
2,446.6
2,060.5
1,186.9
873.7
386.0
700.2
10.4
689.8
564.1
65.1
60.6
104.7
51.2
29.3
24.2
-665.7
2,583.2
1,786.3
1,256.0
827.6
428.4
530.3
796.8
3.0
793.8
260.7
250.9
282.1
3,256.1
2,502.9
2,108.1
1,166.6
941.6
394.8
641.6
10.5
631.1
499.8
62.9
68.4
111.5
51.7
33.6
26.2
-673.0
30
31
32
-798.0
-794.1
3.9
-712.4
-710.8
1.6
-757.7
-756.0
1.6
-732.3
-730.5
1.7
-692.4
-690.9
1.6
-667 1
-665.7
1.3
-673.0
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 reclas
sified from goods to services.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
D-34
June 2008
N a t io n a l D a t a
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
Table 4.2.2. Contributions to Percent Change in Real Exports and in
Real Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
II
III
IV
I
1
2
3
8.4
9.9
8.0
8.1
7.9
8.6
1.1
0.9
2.8
7.5
6.6
24.4
19.1
26.2
44.0
6.5
3.9
-13.4
2.8
1.5
14.0
4
5
6
7.5
9.6
6.3
5.5
5.2
5.7
-7.6
-7.0
-8.0
6.4
3.5
8.3
19.9
16.5
22.0
8.2
10.5
6.9
7.0
-7.6
16.2
7
13.3
8.2
-2.0
5.1
28.3
10.4
-4.5
8
18.8
12.4
-20.5
-6.6
79.4
25.4
-31.4
9
10
9.4
12.7
-2.4
8.6
-8.2
4.8
-17.8
12.3
19.9
18.1
-13.3
9.8
37.4
0.2
11
7.4
11.6
5.9
24.5
40.7
-9.9
-17.4
12
13
14
15
16
10.5
13.2
7.4
2.0
4.8
10.5
14.9
5.1
3.5
8.5
12.0
14.7
8.7
40.3
1.6
4.5
11.4
-3.8
-28.2
9.6
21.3
23.6
18.4
1.0
4.0
-2.7
14.8
-22.3
11.1
13.2
14.1
8.3
22.8
14.1
5.8
17
18
19
20
21
22
23
-14.7
0.5
5.3
5.1
1.8
10.8
-2.5
-5.3
11.8
4.5
6.0
7.9
10.1
2.8
6.2
4.8
-5.2
-1.4
4.2
0.3
4.2
-17.7
13.7
11.4
8.1
3.7
13.2
1.2
-21.9
26.9
15.4
-3.3
6.8
-3.3
0.9
-11.8
21.5
-2.9
15.5
4.5
16.8
1.9
15.1
2.5
14.1
-8.0
9.9
8.9
-1.6
24
25
26
5.9
6.0
6.1
1.9
1.6
1.3
3.9
4.2
8.1
-2.7
-2.9
-5.9
4.4
4.8
7.2
-1.4
-2.6
-13.5
-2.6
-3.6
2.1
27
28
29
30
4.3
9.7
-1.6
-2.0
-4.3
-9.2
1.7
-2.0
-17.8
-22.1
-12.0
29.6
22.2
-2.1
59.0
-22.3
4.9
4.3
5.6
-18.3
-27.5
-18.3
-37.0
28.1
-11.6
-17.3
-4.8
14.4
31
11.2
6.0
9.8
1.3
9.4
0.3
1.8
32
6.1
15.4
23.4
17.2
-2.4
-0.2
9.5
33
34
17.3
9.6
8.6
4.1
41.1
-0.9
-13.1
5.2
-3.8
15.6
10.3
-2.7
23.5
-5.3
35
6.8
-0.1
-11.0
-2.3
26.2
-13.2
-15.6
36
37
38
39
40
41
42
43
44
45
46
47
8.0
8.2
7.8
3.2
5.2
-3.0
5.1
-0.3
5.4
4.1
9.9
-0.7
5.8
7.0
4.3
-1.3
3.5
-4.7
0.9
0.1
3.3
2.6
8.8
-0.5
4.7
2.4
7.6
27.9
2.3
12.9
-0.8
6.7
-3.0
2.5
3.7
1.2
-3.5
-3.1
-4.1
-16.7
-1.7
-14.5
-11.6
-1.6
-4.0
3.9
8.7
-5.1
1.8
8.9
-6.2
36.0
1.7
-8.7
5.0
-1.7
2.9
7.7
2.1
-4.0
7.3
10.9
2.9
-31.2
5.5
4.5
-10.5
13.4
3.4
6.9
16.4
-5.0
-10.9
-17.8
-1.6
-8.1
2.8
-11.4
-0.3
17.1
-3.4
4.6
8.9
-5.3
48
49
50
11.5
6.5
8.5
OO
bo
Exports o f goods and
se rvice s............................
E xports o f goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable goods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
parts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and p arts................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
O th er...........................................
Exports of services 1 .................
Transfers under U.S. military
agency sales contracts.........
Travel...........................................
Passenger fares.........................
Other transportation..................
Royalties and license fees........
Other private services..............
O th e r...........................................
Im ports of goods and
se rvice s............................
Im ports of goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable goods.......................
Nondurable goods................
Petroleum and products...........
Capital goods, except
automotive.............................
Civilian aircraft, engines, and
parts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and p arts................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
O th er...........................................
Im ports of services 1...................
Direct defense expenditures....
Travel...........................................
Passenger fares.........................
Other transportation..................
Royalties and license fees........
Other private services..............
O th er...........................................
Addenda:
Exports of durable goods.........
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
Line
6.1
7.5
1.2
0.4
-4.1
6.9
6.0
35.5
26.9
24.6
56.3
7.5
-3.5
-25.2
-5.2
16.5
11.0
51
52
53
54
10.1
8.9
1.8
7.5
7.9
2.3
0.8
2.4
1.3
-1.0
12.8
0.3
4.6
-1.7
-4.6
1.2
23.8
13.0
-6.1
10.0
7.1
-4.7
0.4
-8.3
0.6
-9.8
5.0
-7.7
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
2008
2007
I
Percent change at annual rate:
Exports o f goods and
se rv ic e s ............................
Percentage poin ts at annual
rates:
Exports o f goods 1 ......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable g oods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p a rts ...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive.............................
Durable g oods.......................
Nondurable goods................
Other............................................
Exports o f services ' ...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Percent change at annual rate:
Im ports o f goods and
se rv ic e s ............................
Percentage points at annual
rates:
Im ports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable g oods.......................
Nondurable g oods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p a rts ...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Im ports o f services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
II
2008
III
IV
I
1
8.4
8.1
1.1
7.5
19.1
6.5
2.8
2
3
6.88
0.36
5.57
0.42
0.65
0.13
4.66
1.09
17.84
2.06
2.76
-0.79
1.06
0.77
4
5
6
1.34
0.63
0.71
1.04
0.37
0.67
-1.44
-0.51
-0.93
1.16
0.25
0.92
3.67
1.16
2.52
1.50
0.70
0.80
1.31
-0.54
1.86
7
3.65
2.25
-0.56
1.41
7.37
2.75
-1.24
8
0.88
0.63
-1.22
-0.35
3.35
1.29
-2.05
9
10
0.32
2.45
-0.07
1.68
-0.26
0.92
-0.54
2.30
0.52
3.51
-0.35
1.81
0.77
0.05
11
0.55
0.84
0.41
1.64
2.80
-0.78
-1.33
12
13
14
15
16
0.93
0.63
0.30
0.07
1.48
0.92
0.72
0.20
0.11
2.54
1.02
0.69
0.33
1.08
0.48
0.41
0.56
-0.15
-1.04
2.87
1.89
1.17
0.72
0.03
1.28
-0.24
0.71
-0.95
0.31
3.78
1.16
0.41
0.75
0.40
1.70
17
18
19
20
21
22
23
-0.20
0.03
0.08
0.16
0.08
1.35
-0.03
-0.06
0.69
0.07
0.19
0.33
1.28
0.03
0.06
0.27
-0.08
-0.04
0.18
0.05
0.05
-0.20
0.78
0.17
0.25
0.16
1.70
0.01
-0.23
1.51
0.23
-0.10
0.29
-0.44
0.01
-0.11
1.24
-0.04
0.46
0.19
2.03
0.02
0.12
0.16
0.21
-0.26
0.39
1.10
-0.02
24
5.9
1.9
3.9
-2.7
4.4
-1.4
-2.6
25
26
5.06
0.20
1.35
0.04
3.49
0.27
-2.44
-0.21
4.07
0.24
-2.25
-0.50
-3.05
0.07
27
28
29
30
0.56
0.66
-0.10
-0.27
-0.59
-0.69
0.10
-0.31
-2.47
-1.77
-0.71
3.21
2.53
-0.15
2.67
-3.27
0.62
0.29
0.33
-2.75
-3.91
-1.33
-2.59
3.71
-1.44
-1.17
-0.27
2.29
31
2.05
1.13
1.82
0.24
1.72
0.06
0.34
32
0.08
0.20
0.30
0.23
-0.04
0.00
0.13
33
34
0.75
1.22
0.39
0.53
1.63
-0.11
-0.65
0.66
-0.17
1.92
0.42
-0.35
0.90
-0.69
35
0.79
-0.02
-1.33
-0.26
2.61
-1.55
-1.76
36
37
38
39
40
41
42
43
44
45
46
47
1.60
0.89
0.71
0.13
0.82
-0.04
0.17
0.00
0.16
0.05
0.49
0.00
1.15
0.76
0.40
-0.05
0.56
-0.06
0.03
0.00
0.10
0.03
0.47
0.00
0.98
0.28
0.70
1.01
0.38
0.17
-0.03
0.08
-0.09
0.03
0.20
0.01
-0.73
-0.35
-0.39
-0.73
-0.26
-0.22
-0.39
-0.02
-0.12
0.05
0.46
-0.02
0.37
0.95
-0.58
1.25
0.28
-0.12
0.16
-0.02
0.08
0.09
0.12
-0.02
1.40
1.15
0.25
-1.46
0.84
0.06
-0.35
0.16
0.09
0.08
0.83
-0.02
-2.24
-2.10
-0.14
-0.31
0.43
-0.17
-0.01
0.20
-0.10
0.05
0.47
-0.02
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.
June 2008
Survey
D-35
C u r r e n t B u s in e s s
of
Table 4.2.3. Real Exports and Imports of Goods and Services
by Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports of Goods and Services
by Type of Product
[Index num bers, 2 0 0 0 = 1 0 0 ]
[Index num bers, 2 0 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2006
2007
2007
I
E xports of goods and
se rvice s............................
Exports o f goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable goods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
parts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and p a rts................................
Consumer goods, except
automotive.............................
Durable goods.......................
Nondurable goods................
O th e r...........................................
E xports o f services 1 .................
Transfers under U.S. military
agency sales contracts.........
Travel...........................................
Passenger fares.........................
Other transportation.................
Royalties and license fees........
Other private services..............
O th e r...........................................
Im ports o f goods and
se rvice s............................
Im ports of goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable goods.......................
Nondurable goods................
Petroleum and products...........
Capital goods, except
automotive.............................
Civilian aircraft, engines, and
p arts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and parts................................
Consumer goods, except
automotive.............................
Durable goods.......................
Nondurable goods................
O th er...........................................
Im ports o f services 1...................
Direct defense expenditures....
Travel...........................................
Passenger fares.........................
Other transportation.................
Royalties and license fees........
Other private services..............
O th er...........................................
Addenda:
Exports of durable goods.........
Exports of nondurable g oods...
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
II
Seasonally adjusted
III
IV
4 116.105 122.504 117.722 119.564 125.120 127.611 129.803
5 111.902 117.740 114.010 114.994 119.462 122.495 120.095
6 118.785 125.516 120.047 122.453 128.706 130.860 135.871
7 117.746 127.344 121.422 122.955 130.854 134.144 132.598
8 123.817 139.181 128.719 126.545 146.463 154.996 141.035
9 111.412 108.782 111.287 105.959 110.888 106.995 115.849
10 117.931 128.132 121.990 125.584 130.931 134.023 134.104
11 127.262 142.076 131.334 138.716 151.077 147.176 140.329
12
13
14
15
16
141.112
150.027
131.419
92.786
120.897
155.868
172.316
138.132
96.001
131.231
151.116
162.868
138.357
101.291
127.335
152.776
167.334
137.028
93.243
130.293
160.330
176.432
142.931
93.484
131.576
159.249
182.628
134.213
95.986
135.720
164.583
186.289
141.287
99.204
137.644
17
18
19
20
21
22
23
115.601
91.576
77.492
116.898
124.106
155.371
99.040
109.496
102.385
80.943
123.898
133.893
171.027
101.808
117.877
95.708
78.030
121.499
131.507
166.151
101.359
112.267
98.824
80.166
123.879
132.717
171.381
101.650
105.554
104.891
83.091
122.857
134.921
169.928
101.867
102.287
110.119
82.487
127.358
136.429
176.647
102.354
105.947
110.799
85.256
124.742
139.688
180.458
101.936
24 130.683 133.181 133.272 132.363 133.780 133.309 132.428
25 132.446 134.586 134.755 133.770 135.360 134.458 133.234
26 137.972 139.732 141.379 139.242 141.667 136.641 137.361
129.899
141.919
117.882
114.973
124.259
128.851
119.904
112.689
121.321
130.315
112.187
119.200
127.549
129.611
125.970
111.918
129.078
130.973
127.697
106.419
119.090
124.504
113.761
113.217
115.472
118.713
112.381
117.080
31 134.057 142.071 140.115 140.561 143.742 143.865 144.524
32
91.972 106.142 103.341 107.530 106.875 106.819 109.278
33 182.213 197.951 202.963 195.935 194.037 198.870 209.664
34 124.570 129.676 126.330 127.939 132.663 131.772 129.978
35 126.025 125.850 123.839 123.112 130.486 125.962 120.716
36
37
38
39
40
41
42
43
44
45
46
47
158.538
168.028
148.419
104.700
122.180
144.115
89.904
89.425
123.227
138.143
163.269
109.267
167.672
179.735
154.820
103.328
126.474
137.328
90.692
89.546
127.232
141.711
177.676
108.771
167.682
177.693
156.998
105.265
126.172
142.609
92.875
89.290
127.495
138.803
172.770
110.748
166.183
176.316
155.372
100.563
125.643
137.123
90.067
88.936
126.192
140.138
176.418
109.319
166.935
180.103
152.916
108.596
126.189
134.055
91.163
88.561
127.094
142.756
177.336
108.197
169.889
184.829
153.996
98.886
127.892
135.526
88.664
91.395
128.146
145.148
184.183
106.821
165.042
175.984
153.359
96.822
128.768
131.476
88.607
95.082
127.044
146.788
188.147
105.363
48 119.862 130.358 124.296 126.392 134.150 136.592 134.785
49 116.000 123.095 118.653 120.408 127.215 126.102 131.016
50 110.005 118.278 107.343 115.816 129.505 120.450 123.624
51
52
53
54
119.081
137.284
126.409
135.609
128.530
140.390
127.369
138.819
123.496
139.127
129.458
137.611
124.886
138.516
127.954
138.007
131.726
142.821
125.969
141.336
134.014
141.097
126.096
138.321
134.220
137.523
127.652
135.576
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
I
1 118.957 128.603 123.568 125.833 131.458 133.555 134.466
2 118.234 127.603 122.091 124.072 131.498 132.750 133.244
3 109.564 119.036 109.983 116.152 127.249 122.760 126.857
27
28
29
30
Line
2008
2007
I
Exports o f goods and
se rvice s............................
Exports o f goods 1 ......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable g oods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p a rts...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
Exports o f services 1...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Im ports o f goods and
se rv ic e s ............................
Im ports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable g oods.......................
Nondurable goods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts ...................................
Computers, peripherals, and
p arts...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
Im ports o f services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation..................
Royalties and license fe e s........
Other private services...............
Other............................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
II
2008
III
IV
I
1 112.537 116.510 114.433 115.912 116.992 118.704 121.200
2 111.118 115.171 113.220 114.624 115.533 117.306 120.209
3 125.764 148.419 139.596 142.574 149.295 162.211 180.988
4 138.170 148.572 142.024 148.164 150.155 153.945 161.013
5 142.347 151.880 148.554 153.732 152.083 153.151 160.268
6 135.641 146.579 138.171 144.869 148.960 154.317 161.352
7
98.463
98.402
98.771
98.240
98.241
98.355
98.587
8 126.242 131.556 129.906 130.752 132.097 133.470 135.503
9
10
76.892
97.438
71.201
97.404
73.316
97.848
71.150
97.362
70.421
97.226
69.918
97.181
67.879
97.454
106.054 106.401 106.788
11 104.791
106.008 105.676 105.901
12
13
14
15
16
103.061
102.567
103.628
115.374
115.917
105.223
103.603
107.254
120.685
119.687
104.310
103.150
105.725
118.154
117.305
105.104
103.654
106.899
120.045
118.964
105.456
103.635
107.750
121.220
120.461
106.023
103.972
108.640
123.322
122.018
106.632
104.725
109.037
126.792
123.518
17
18
19
20
21
22
23
107.519
113.564
138.396
132.888
116.261
110.552
124.661
110.178
117.515
149.082
137.538
119.291
113.768
128.141
108.799
114.304
142.014
131.012
117.933
112.733
124.046
109.320
117.188
148.142
135.375
119.047
113.194
125.445
110.721
118.495
148.742
139.792
119.521
114.254
131.493
111.870
120.073
157.432
143.972
120.662
114.893
131.580
112.754
121.759
159.169
152.749
121.715
114.732
137.549
24 115.610 119.613 115.114 118.408 120.572 124.360 128.072
25 114.178 118.278 113.550 117.064 119.256 123.243 127.247
26 118.126 127.277 123.265 125.480 128.497 131.865 136.253
27
28
29
30
129.258
128.925
129.037
218.866
135.748
138.491
132.173
244.907
132.485
133.694
130.622
197.828
136.697
139.577
132.908
232.368
135.104
140.711
128.389
256.072
138.706
139.981
136.772
293.359
147.634
144.037
151.151
319.277
31
89.910
90.244
89.967
89.770
90.450
90.790
90.801
32 117.013 122.919 120.325 121.059 124.440 125.851
127.476
33 61.964 58.572 59.515 58.401 58.358 58.013 56.495
34 100.321 102.336 101.557 101.840 102.662 103.287 104.074
35 103.973 105.015 104.477 104.630 104.936 106.015 107.132
36
37
38
39
40
41
42
43
44
45
46
47
99.778
97.029
102.893
110.253
123.039
159.940
123.820
126.701
127.878
116.188
111.482
119.822
101.119
98.046
104.647
113.750
126.462
176.299
128.613
134.808
125.291
119.249
114.040
122.759
100.685
97.699
104.103
112.615
123.300
165.197
122.427
132.085
122.730
117.892
113.152
119.196
100.740
97.701
104.225
113.302
125.310
173.471
126.785
131.686
124.627
119.006
113.455
121.868
101.291
98.144
104.914
113.881
127.298
178.498
129.587
137.260
125.945
119.480
114.429
123.564
101.761
98.641
105.346
115.201
129.939
188.031
135.652
138.199
127.863
120.620
115.123
126.407
102.857
99.304
107.010
117.743
131.996
195.795
137.904
141.450
131.321
121.673
115.500
128.487
48 105.135 106.529 106.243 106.591 106.479 106.802 107.893
49 125.487 136.850 130.299 134.601 138.337 144.164 152.067
50 125.453 149.086 139.901 142.456 150.669 163.318 181.667
51 109.925 112.681 111.227 112.553
52 99.985 101.720 100.881 101.448
53 141.066 150.040 137.190 146.780
54 103.592 105.745 104.766 105.459
112.958
102.041
152.335
105.816
113.984
102.512
163.855
106.939
115,863
103.377
174.433
108.939
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.
D-36
June 2008
N a t io n a l D a t a
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 (2 0 0 0 ) dollars]
Seasonally adjusted at annual rates
Line
Exports of goods and
se rvice s.........................
Exports o f goods 1...................
Foods, feeds, and beverages.
Industrial supplies and
materials..............................
Durable goods
Nondurable _
Capital goods, except
automotive.............................
Civilian aircraft, engines, and
parts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and parts................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
O th er...........................................
E xports o f services 1 .................
Transfers under U.S. military
agency sales contracts.........
Travel...........................................
Passenger fares.........................
Other transportation.................
Royalties and license fees........
Other private services..............
O th er...........................................
Im ports o f goods and
se rvice s............................
Im ports o f goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable goods.......................
Nondurable goods................
Petroleum and products...........
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
parts...................................
Computers, peripherals, and
parts...................................
O ther......................................
Automotive vehicles, engines,
and parts................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
O th er...........................................
Im ports o f services 1...................
Direct defense expenditures....
Travel...........................................
Passenger fares.........................
Other transportation.................
Royalties and license fees........
Other private services..............
O th er...........................................
Addenda:
Exports of durable goods.........
Exports of nondurable g oods...
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
2006
1 1,467.6
2 1,030.5
3
66.0
2007
2007
Seasonally adjusted at annual rates
2008
I
II
III
IV
I
1,643.0
1,152.9
84.7
1,549.9
1,084.0
73.5
1,598.7
1,115.2
79.3
1,685.7
1,191.3
90.9
1,737.7
1,221.1
95.3
1,786.3
1,256.0
109.9
4
5
6
267.3
101.3
166.0
303.4
113.7
189.6
278.4
107.7
170.7
295.0
112.4
182.6
312.9
115.5
197.3
327.1
119.3
207.9
348.0
122.4
225.7
7
413.9
447.3
428.1
431.2
458.9
471.0
466.6
8
75.2
88.1
80.4
79.5
93.0
99.4
91.9
9
10
47.6
291.1
43.0
316.2
45.3
302.4
41.9
309.8
43.4
322.5
41.6
330.0
43.7
331.1
11
107.2
121.0
111.5
118.0
128.7
125.8
120.4
12
13
14
15
16
130.0
71.9
58.1
46.2
437.1
146.6
83.4
63.2
49.9
490.1
140.9
78.4
62.4
51.6
465.9
143.5
81.0
62.5
48.3
483.5
151.1
85.4
65.7
48.9
494.4
150.9
88.7
62.2
51.0
516.5
156.8
91.1
65.7
54.2
530.3
17
18
19
20
21
22
23
15.9
85.7
22.2
46.3
62.4
187.8
16.9
15.5
99.2
25.0
50.8
69.1
212.7
17.8
16.5
90.1
22.9
47.4
67.0
204.7
17.2
15.7
95.4
24.6
50.0
68.3
212.0
17.4
15.0
102.4
25.6
51.2
69.7
212.2
18.3
14.7
109.0
26.9
54.6
71.2
221.8
18.4
15.3
111.2
28.1
56.8
73.5
226.3
19.2
24
25
26
2,229.6
1,880.4
74.9
2,351.0
1,979.4
81.7
2,264.0
1,902.7
80.1
2,312.9
1,947.2
80.3
2,380.4
2,007.3
83.7
2,446.6
2,060.5
82.8
2,502.9
2,108.1
86.0
27
28
29
30
290.1
161.8
128.3
302.4
291.5
157.8
133.8
330.7
277.8
154.0
123.8
283.4
301.4
160.0
141.4
312.6
301.4
163.0
138.5
327.5
285.5
154.1
131.4
399.2
294.7
151.2
143.5
449.3
31
418.3
444.9
437.4
437.9
451.2
453.3
455.4
32
28.4
34.4
32.8
34.3
35.1
35.4
36.7
33
34
101.3
288.5
104.1
306.4
108.5
296.2
102.8
300.8
101.7
314.4
103.6
314.2
106.4
312.3
35
256.7
258.9
253.4
252.3
268.2
261.6
253.3
36
37
38
39
40
41
42
43
44
45
46
47
446.1
243.8
202.3
91.9
349.2
31.1
72.0
27.5
65.3
26.4
116.5
10.4
478.1
263.5
214.6
93.6
371.6
32.6
75.4
29.3
66.1
27.8
129.7
10.6
476.0
259.6
216.5
94.4
361.4
31.8
73.6
28.6
64.9
26.9
125.1
10.5
472.1
257.5
214.5
90.7
365.7
32.1
73.9
28.4
65.2
27.5
128.1
10.6
476.8
264.3
212.5
98.5
373.2
32.3
76.4
29.5
66.4
28.1
129.9
10.6
487.5
272.6
214.9
90.7
386.0
34.4
77.8
30.7
67.9
28.8
135.7
10.7
478.7
261.3
217.4
90.8
394.8
34.7
79.1
32.7
69.2
29.4
139.1
10.7
48
49
50
717.3
313.1
72.9
790.4
362.5
93.3
751.6
332.4
79.3
766.7
348.5
87.1
812.9
378.4
103.0
830.3
390.9
103.9
827.6
428.4
118.6
51
52
53
54
957.6
1,126.5
753.9
1,578.0
1,059.6
1,171.8
807.6
1,648.8
1,004.7
1,151.7
751.0
1,619.2
1,028.1
1,153.0
794.2
1,634.7
1,088.3
1,195.8
811.4
1,679.7
1,117.3
1,186.9
873.7
1,661.4
1,137.4
1,166.6
941.6
1,658.8
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.
Line
Exports o f goods and
s e rvice s............................
Exports o f goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable g oods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
parts 2.................................
Other........................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
E xports o f services 1...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Residual...........................................
Im ports o f goods and
s e rvice s............................
Im ports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable g oods.......................
Nondurable g oods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p a rts 2.................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Im ports o f services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s ........
Other private services...............
Other............................................
Residual...........................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 3
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
2006
1 1,304.1
927.4
2
52.4
3
2007
2007
2008
I
II
III
IV
1
1,409.9
1,000.8
57.0
1,354.7
957.6
52.7
1,379.5
973.1
55.6
1,441.2
1,031.4
60.9
1,464.1
1,041.2
58.8
1,474.1
1,045.1
60.7
4
5
6
193.5
71.2
122.4
204.1
74.9
129.3
196.2
72.5
123.7
199.2
73.2
126.1
208.5
76.0
132.6
212.6
77.9
134.8
216.3
76.4
140.0
7
420.4
454.6
433.5
438.9
467.1
478.9
473.4
8
59.5
66.9
61.9
60.9
70.4
74.5
67.8
9
10
298.8
324.6
309.1
318.2
331.7
339.6
339.8
11
102.3
114.2
105.5
111.5
121.4
118.3
112.8
12
13
14
15
16
126.1
70.1
56.1
40.0
377.1
139.3
80.5
58.9
41.4
409.4
135.1
76.1
59.0
43.7
397.2
136.5
78.2
58.5
40.2
406.4
143.3
82.4
61.0
40.3
410.4
142.3
85.3
57.3
41.4
423.4
147.1
87.0
60.3
42.8
429.4
17
18
19
20
21
22
23
24
14.8
75.5
16.0
34.8
53.7
169.8
13.5
-8.7
14.0
84.4
16.7
36.9
57.9
187.0
13.9
-9.0
15.1
78.9
16.1
36.2
56.9
181.6
13.9
-10.0
14.4
81.4
16.6
36.9
57.4
187.4
13.9
-9.8
13.5
86.4
17.2
36.6
58.3
185.8
13.9
-8.8
13.1
90.7
17.1
38.0
59.0
193.1
14.0
-8.2
13.6
91.3
17.6
37.2
60.4
197.3
13.9
-9.1
25
26
27
1,928.6
1,646.9
63.4
1,965.4
1,673.5
64.2
1,966.8
1,675.6
65.0
1,953.4
1,663.4
64.0
1,974.3
1,683.2
65.1
1,967.3
1,671.9
62.8
1,954.3
1,656.7
63.2
28
29
30
31
224.5
125.5
99.4
138.2
214.7
114.0
101.2
135.4
209.6
115.3
94.6
143.3
220.4
114.6
106.3
134.5
223.0
115.8
107.7
127.9
205.8
110.1
96.0
136.1
199.5
105.0
94.8
140.7
32
465.2
493.0
486.2
487.8
498.8
499.2
501.5
33
24.3
28.0
27.3
28.4
28.2
28.2
28.8
34
35
287.6
299.4
291.7
295.4
306.3
304.2
300.1
36
246.9
246.5
242.6
241.1
255.6
246.7
236.5
37
38
39
40
41
42
43
44
45
46
47
48
49
447.1
251.3
196.6
83.3
283.8
19.4
58.2
21.7
51.1
22.7
104.5
8.7
-37.8
472.9
268.8
205.1
82.2
293.8
18.5
58.7
21.7
52.7
23.3
113.7
8.6
-54.3
472.9
265.7
208.0
83.8
293.1
19.2
60.1
21.7
52.8
22.9
110.6
8.8
-48.8
468.7
263.7
205.8
80.0
291.9
18.5
58.3
21.6
52.3
23.1
112.9
8.7
-51.7
470.8
269.3
202.6
86.4
293.1
18.1
59.0
21.5
52.7
23.5
113.5
8.6
-61.7
479.1
276.4
204.0
78.7
297.1
18.3
57.4
22.2
53.1
23.9
117.9
8.5
-55.7
465.4
263.2
203.2
77.1
299.1
17.7
57.3
23.1
52.6
24.2
120.4
8.3
-50.1
50
51
52
682.3
249.5
58.1
742.0
264.8
62.5
707.5
255.2
56.7
719.5
259.0
61.2
763.6
273.7
68.4
777.5
271.3
63.6
767.2
281.8
65.3
53
54
55
56
871.1
1,126.7
534.4
1,523.3
940.3
1,152.2
538.5
1,559.3
903.4
1,141.8
547.3
1,545.8
913.6
1,136.8
541.0
1,550.2
963.6
1,172.1
532.6
1,587.6
980.4
1,158.0
533.1
1,553.7
981.9
1,128.6
539.7
1,522.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component’s relative importance or its contribution to the growth rate of more 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.
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. For exports and for
imports, the residual line is the difference between the aggregate line and the sum of the most detailed lines.
June 2008
5 .
S a v in g
S urvey
a n d
D-37
C u r r e n t B u s in e s s
of
In v e s tm e n t
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
I
Gross sa vin g ...........................
Net s a v in g ........................................
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..........................
Consum ption of fixed c a p ita l......
Private............................................
Domestic business...................
Households and institutions....
Government...................................
Federal......................................
State and local..........................
G ross dom estic investment,
capital account
transactions, and net
lending, N IPAs....................
Gross domestic investment.............
Gross private domestic
investment.................................
Gross government investment....
Capital account transactions (n e t)1
Net lending or net borrowing (-),
NIPAs..............................................
S tatistical d iscre pa n cy.........
Addenda:
Gross private saving.....................
Gross government saving............
Federal......................................
State and local..........................
Net domestic investment.............
Gross saving as a percentage
o f gross national in co m e .....
Net saving as a percentage of
gross national income
II
III
IV
Line
I
1
2
3
4
1,866.9
251.7
447.2
38.8
1,860.0
173.4
403.8
47.8
1,879.4
208.5
432.8
97.0
1,913.6
230.2
423.5
30.5
1,861.7
170.9
414.1
44.4
1,785.3
84.2
344.5
19.3
1,716.4
5.7
381.4
61.1
5
6
400.9
653.0
333.5
614.9
335.8
603.9
368.0
657.2
344.7
602.5
285.2
596.1
310.2
482.7
7
-36.3
-46.2
-40.2
-54.7
-20.3
-69.4
-98.7
8
-215.8
-235.3
-227.9
-234.4
-237.4
-241.5
-73.8
9
10
11
12
13
14
15
16
17
18
19
7.5
-195.4
-220.0
24.6
1,615.2
1,347.5
1,081.4
266.1
267.7
105.4
162.3
22.5
-230.3
-218.5
-11.8
1,686.6
1,398.7
1,119.1
279.6
287.9
110.4
177.5
0.0
-224.3
-218.5
-5.8
1,670.9
1,389.6
1,112.6
277.1
281.3
108.6
172.7
25.0
-193.4
-206.8
13.4
1,683.4
1,397.4
1,118.3
279.1
286.0
110.2
175.9
25.0
-243.2
-230.3
-13.0
1,690.9
1,400.9
1,120.6
280.3
290.0
110.9
179.0
40.0
-260.3
-218.5
-41.9
1,701.1
1,406.7
1,124.8
282.0
294.4
112.1
182.4
10.0
-375.6
-311.9
-63.7
1,710.7
1,411.3
1,128.9
282.5
299.3
113.5
185.8
20
21
1,848.8
2,642.9
1,882.5
2,593.3
1,813.1
2,569.2
1,872.8
2,603.4
1,946.5
2,637.4
1,897.4
2,563.1
1,849.3
2,522.3
22
23
24
2,209.2
433.8
3.9
2,125.4
467.9
1.6
2,117.3
451.8
1.6
2,139.1
464.3
1.7
2,162.9
474.4
1.6
2,082.1
481.0
1.3
2,041.3
481.0
?5
26
-798.0
-18.1
-712.4
22.4
-757 7
-66.3
-732 3
-40.8
-692 4
84.8
-667 1
112.0
132.9
27
28
29
30
31
1,794.6
72.3
-114.6
186.9
1,027.7
1,802.4
57.6
-108.1
165.7
906.7
1,822.5
56.9
-110.0
166.9
898.3
1,820.9
92.7
-96.6
189.3
919.9
1,815.0
46.7
-119.3
166.0
946.5
1,751.3
34.1
-106.4
140.5
862.0
1,792.7
-76.3
-198.4
122.1
811.6
32
14.1
13.4
13.7
13.8
13.3
12.7
12.1
33
1.9
1.2
1.5
1.7
1.2
0.6
0.0
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
Seasonally adjusted at annual rates
2008
Private fixed investm ent....
N onresidential...............................
S tructu res..................................
Commercial and health care
Manufacturing........................
Power and communication....
Mining exploration, shafts,
and wells.............................
Other structures 1.................
Equipm ent and so ftw are ........
Information processing
equipment and software...
Computers and peripheral
equipment......................
Software 2..........................
O th e r3................................
Industrial equipment.............
Transportation equipment....
Other equipm ent4................
Residential.....................................
S tructures..................................
Permanent site.......................
Single fam ily......................
Multifamily..........................
Other structures 5..................
E qu ip m en t.................................
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
I
II
III
IV
I
1
2
3
4
5
6
2.4
6.6
8.4
7.2
7.7
7.7
-2.9
4.7
12.9
9.1
5.4
19.0
-4.4
2.1
6.4
14.7
-2.2
11.6
3.2
11.0
26.2
2.5
19.0
52.1
-0.7
9.3
16.4
5.2
-7.2
21.3
-4.0
6.0
12.4
1.7
64.9
29.2
-7.8
-0.2
1.1
-0.4
35.8
-6.2
7
8
9
13.5
5.1
5.9
14.4
18.3
1.3
-3.6
4.0
0.3
48.6
40.7
4.7
25.5
34.0
6.2
6.7
17.2
3.1
-6.5
8.7
-0.9
10
7.5
8.3
16.7
10.1
6.6
14.7
5.9
11
12
13
14
15
16
17
18
19
20
21
22
23
17.7
3.6
7.0
3.6
7.0
2.8
-4.6
-4.7
-6.7
-7.8
3.4
-1.3
3.9
19.4
6.6
5.1
1.4
-11.9
-4.6
-17.0
-17.2
-25.4
-27.7
-7.9
-3.7
-1.2
43.0
9.3
13.5
-2.9
-15.2
-21.3
-16.3
-16.6
-27.7
-29.8
-12.6
1.8
3.7
12.3
10.8
8.4
16.3
-23.8
9.3
-11.8
-11.9
-14.4
-14.2
-15.8
-8.5
-6.0
11.7
4.4
6.5
8.2
3.0
6.1
-20.5
-20.8
-23.3
-24.5
-15.6
-17.6
3.3
32.8
11.9
9.7
-12.9
-16.3
6.9
-25.2
-25.5
-38.3
-41.2
-18.5
-6.4
-2.0
17.2
6.5
0.3
3.0
-14.2
-12.7
-25.5
-25.8
-39.2
-43.4
-10.8
-8.2
-5.5
-14.0
24
-0.6
-6.6
-8.4
1.8
-6.7
-10.2
25
5.9
1.3
0.3
4.6
6.2
3.1
-1.0
26
27
28
0.5
8.5
-3.7
-5.7
12.9
-17.3
-9.0
6.3
-18.6
4.6
26.0
-9.6
-3.6
16.3
-17.9
-9.3
12.2
-25.8
-14.0
1.1
-27.4
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
June 2008
N a t io n a l D a t a
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[|ndex numbers, 2000= 100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
Percent change at annual rate:
Private fixed in ve stm e n t....
Percentage points at annual
rates:
N o nre sid en tia l.............................
S tru c tu re s.................................
Commercial and health care
Manufacturing........................
Power and communication...
Mining exploration, shafts,
and w e lls...........................
Other structures 1..................
Equipm ent and so ftw are ........
Information processing
equipment and software...
Computers and peripheral
equipm ent.....................
Software 2 .........................
O th e r3................................
Industrial equipment.............
Transportation equipment....
Other equipm ent4................
R e sid en tia l....................................
S tru c tu re s .................................
Permanent s ite ......................
Single fam ily......................
M ultifamily.........................
Other structures5..................
E quipm ent.................................
Addenda:
Private fixed investment in
structures................................
Private fixed investment in
equipment and software.......
Private fixed investment in new
structures 6............................
Nonresidential structures.....
Residential structures...........
IV
2006
2007
1
2.4
-2.9
-4.4
3.2
-0.7
-4.0
-7.8
2
3
4
5
6
4.11
1.43
0.48
0.09
0.16
3.05
2.45
0.66
0.07
0.42
1.42
1.28
1.09
-0.03
0.26
7.16
4.97
0.21
0.23
1.07
6.22
3.37
0.42
-0.10
0.53
4.19
2.71
0.14
0.72
0.76
-0.17
0.27
-0.03
0.49
-0.20
/
8
9
0.54
0.16
2.68
0.68
0.62
0.60
-0.19
0.14
0.15
2.13
1.34
2.19
1.27
1.24
2.86
0.37
0.72
1.48
-0.39
0.40
-0.44
10
1.64
1.81
3.54
2.30
1.52
3.35
1.46
11
12
13
14
15
16
17
18
19
20
21
22
23
0.72
0.34
0.59
0.28
0.54
0.23
-1.75
-1.76
-1.58
-1.66
0.08
-0.18
0.02
0.76
0.61
0.43
0.11
-0.95
-0.37
-6.00
-5.99
-5.50
-5.31
-0.19
-0.49
-0.01
1.56
0.86
1.11
-0.23
-1.27
-1.88
-5.79
-5.80
-6.05
-5.71
-0.34
0.25
0.02
0.53
1.03
0.73
1.22
-2.03
0.69
-4.01
-3.98
-2.77
-2.35
-0.42
-1.21
-0.03
0.50
0.44
0.58
0.66
0.21
0.47
-6.95
-6.97
-4.44
-4.05
-0.39
-2.53
0.01
1.31
1.17
0.87
-1.16
-1.25
0.54
-8.19
-8.18
-7.34
-6.89
-0.45
-0.84
-0.01
0.76
0.68
0.02
0.25
-1.04
-1.10
-7.61
-7.58
-6.54
-6.30
-0.24
-1.05
-0.02
24
-0.33
-3.54
-4.53
1.00
-3.60
-5.47
-7.31
25
2.70
0.59
0.17
2.16
2.87
1.47
-0.46
26
27
28
0.26
1.44
-1.18
-2.82
2.44
-5.26
-4.47
1.25
-5.71
2.20
4.94
-2.75
-1.78
3.34
-5.12
-4.59
2.68
-7.26
-6.82
0.26
-7.07
2007
I
I
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.
Line
2008
III
II
Private fixed investm ent....
N onresidential...............................
S tructu res..................................
Commercial and health care
Manufacturing........................
Power and communication....
Mining exploration, shafts,
and wells............................
Other structures 1..................
Equipm ent and so ftw are ........
Information processing
equipment and software...
Computers and peripheral
equipment......................
Software 2..........................
O th e r3................................
Industrial equipment.............
Transportation equipment....
Other equipm ent4................
Residential.....................................
S tructu res..................................
Permanent site.......................
Single fam ily......................
Multifamily..........................
Other structures5..................
E qu ip m en t.................................
Addenda:
Private fixed investment in
structures................................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6............................
Nonresidential structures.....
Residential structures...........
2008
II
III
108.956
110.109
95.639
88.207
66.909
87.938
108.756
112.597
99.330
89.339
65.675
92.287
IV
I
1 111.657
2 106.062
3 85.770
4 81.352
5 64.286
6 75.171
108.369 108.113
111.061 107.277
96.871
90.241
88.728
87.658
67.765 64.055
89.452 79.185
7 146.641
8 78.161
9 114.332
167.747 150.427 166.098 175.804 178.660 175.676
92.472
82.564 89.920 96.746 100.657 102.788
115.842 113.753 115.075 116.821 117.720 117.452
107.652 105.494
114.261 114.191
102.274 102.559
89.709 89.624
74.420 80.337
98.397 96.828
10
127.427
138.032
133.287
136.547
11
12
13
14
15
16
17
18
19
20
21
22
23
200.789
120.918
107.802
93.939
96.487
119.025
127.433
127.394
128.910
127.834
138.163
125.072
131.490
239.684
128.874
113.315
95.281
84.966
113.514
105.795
105.506
96.125
92.456
127.221
120.490
129.869
226.974
124.834
110.077
92.500
90.017
110.340
113.301
113.092
105.061
101.442
135.758
125.963
131.021
233.652 240.216 257.894 268.348
128.068 129.453 133.143 135.242
112.319 114.101 116.764 116.838
96.050 97.955 94.618
95.314
84.103
84.721
81.025 77.979
112.810 114.494 116.410 112.516
109.791 103.665 96.422 89.567
109.563 103.347 96.021
89.104
101.053
94.576
83.808 74.007
97.637
91.027
69.143
79.716
130.041 124.659 118.427 115.098
123.189 117.372 115.435 112.989
128.995 130.051 129.408 127.584
24
110.124
102.875
104.099
104.577
102.782
100.041
96.336
25
114.472
115.956
113.893
115.187
116.928
117.814
117.533
26
27
28
107.871
85.706
125.803
101.690
96.757
104.025
101.919
90.169
110.531
103.067
95.539
107.770
102.117
99.208
102.586
99.657
102.113
95.215
95.967
102.387
87.899
138.731
143.563
145.651
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.
June 2008
S urvey
of
D-39
C u r r e n t B u s in e s s
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
Table 5.3.5. Private Fixed Investment by Type
[Index numbers, 2 0 0 0 = 1 0 0 ]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2006
2007
2007
I
Private fixed in ve stm e n t....
N onresidential...............................
S tru c tu re s .................................
Commercial and health care
Manufacturing........................
Power and communication...
Mining exploration, shafts,
and w e lls...........................
Other structures 1..................
Equipm ent and so ftw are ........
Information processing
equipment and software...
Computers and peripheral
equipm ent.....................
Software 2 .........................
O th e r3................................
Industrial equipment.............
Transportation equipment....
Other equipm ent4.................
R e sid en tia l....................................
S tru c tu re s .................................
Permanent s ite ......................
Single fam ily......................
Multifamily.........................
Other structures 5.................
E quipm ent.................................
Addenda:
Private fixed investment in
structures................................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6............................
Nonresidential structures......
Residential structures...........
1
2
3
4
5
6
II
IV
7 264.531 259.360 267.105 260.237 255.430 254.667 256.075
8 131.260 138.474 137.175 137.815 138.884 140.022 140.553
94.783 94.612
9 94.485 94.857 94.892 95.002 94.751
10
80.699
79.840
79.509
79.026
11
12
13
14
15
16
17
18
19
20
21
22
23
44.843
95.459
90.895
111.442
110.759
110.906
134.288
134.863
137.271
137.431
135.797
131.113
99.222
40.040 41.934
95.881
95.740
91.400 91.061
115.429 114.150
112.715 112.520
113.299 112.718
135.450 135.736
136.016 136.311
137.988 138.997
138.065 139.076
137.618 138.625
132.785 132.186
100.897 100.683
40.706
95.812
91.356
115.110
113.338
113.166
135.459
136.016
137.930
138.008
137.560
132.863
101.329
39.240
95.840
91.522
115.793
112.524
113.486
135.367
135.930
137.613
137.690
137.244
133.063
100.948
38.281
36.859
96.134 96.362
91.661
92.031
116.663 117.741
112.476 111.669
113.828 113.823
135.238 134.453
135.805 135.008
137.411 135.792
137.488 135.869
137.042 135.428
133.029 133.098
100.629 100.463
24
139.971
142.416
142.210
142.233
142.664
95.057
94.804
94.834
94.662
143.593 143.608
155.571 155.769
136.954 136.833
144.178
157.006
136.866
144.065
157.772
135.952
142.556
25
94.525
94.909
94.942
26
27
28
141.133
151.128
135.654
143.856
156.088
137.018
144.045
156.007
137.420
78.809
78.447
142.554
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.
2006
2007
I
115.352 116.637 116.718 116.636 116.498 116.696 116.546
106.961 108.293 108.301 108.293 108.140 108.440 108.481
150.806 155.709 155.637 155.199 155.392 156.609 157.367
137.634 145.010 143.459 144.107 145.179 147.293 147.678
130.940 136.286 134.906 135.648 136.727 137.863 138.229
134.294 139.475 137.784 138.689 140.078 141.350 143.129
79.296
Line
2008
III
Private fixed investm ent....
N onresidential...............................
S tructu res..................................
Commercial and health care
Manufacturing........................
Power and communication....
Mining exploration, shafts,
and wells.............................
Other structures 1.................
Equipm ent and so ftw a re ........
Information processing
equipment and software...
Computers and peripheral
equipment......................
Software 2..........................
O th e r3................................
Industrial equipment.............
Transportation equipment....
Other equipm ent4 ................
Residential.....................................
S tructu res..................................
Permanent site.......................
Single fam ily......................
Multifamily..........................
Other structures 5 ..................
E qu ip m en t.................................
Addenda:
Private fixed investment in
structures................................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6.............................
Nonresidential structures......
Residential structures...........
2007
2008
I
II
III
IV
I
1
2
3
4
5
6
2,162.5
1,397.7
405.1
154.0
26.8
47.3
2,122.4
1,481.8
472.1
176.9
29.4
58.4
2,118.9
1,431.4
439.6
172.8
27.5
51.1
2,133.9
1,469.1
464.5
174.7
28.9
57.1
2,127.5
1,500.1
483.1
178.3
28.6
60.5
2,109.5
1,526.5
501.3
181.6
32.6
65.1
2,064.5
1,526.2
505.1
181.9
35.3
64.8
7
8
9
105.4
71.7
992.6
118.0
89.4
1,009.7
109.1
79.1
991.8
117.4
86.5
1,004.5
121.9
93.8
1,017.1
123.6
98.4
1,025.3
122.2
100.9
1,021.1
10
480.9
511.7
497.6
507.7
512.6
529.0
534.3
11
12
13
14
15
16
17
18
19
20
21
22
23
91.3
203.3
186.2
166.7
171.9
173.2
764.8
755.2
469.0
416.0
53.0
286.2
9.6
97.3
217.7
196.8
175.1
154.0
168.8
640.7
631.0
351.8
302.4
49.5
279.2
9.6
96.6
210.5
190.5
168.1
162.9
163.2
687.5
677.8
387.2
334.1
53.2
290.6
9.7
96.6
216.1
195.0
176.0
153.3
167.5
664.8
655.2
369.6
319.1
50.6
285.6
9.6
95.7
218.5
198.4
180.6
153.3
170.5
627.3
617.7
345.1
296.8
48.3
272.5
9.7
100.2
225.5
203.4
175.7
146.6
173.9
582.9
573.4
305.4
259.5
45.9
268.0
9.6
100.4
229.6
204.3
178.7
140.1
168.1
538.4
528.9
266.5
222.4
44.0
262.4
9.4
24
1,160.3
1,103.1
1,117.4
1,119.8
1,100.7
1,074.6
1,034.0
25
1,002.2
1,019.3
1,001.6
1,014.2
1,026.8
1,034.8
1,030.5
26
27
28
1,061.3
404.3
657.0
1,020.1
471.1
549.0
1,023.8
438.8
585.0
1,032.1
463.6
568.5
1,022.7
482.0
540.6
1,002.0
500.1
501.9
964.1
503.9
460.3
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.
D-40
June 2008
N a t io n a l D a t a
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 (200 0) dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Private fixed in ve stm e n t....
N o nre sid en tia l..............................
S tru c tu re s .................................
Commercial and health care
Manufacturing........................
Power and communication...
Mining exploration, shafts,
and w e lls...........................
Other structures 1..................
Equipm ent and so ftw are ........
Information processing
equipment and software...
Computers and peripheral
equipm ent2...................
Software 3 .........................
O th e r4................................
Industrial equipment.............
Transportation equipment....
Other equipm ent5................
R e sid en tia l....................................
S tru c tu re s.................................
Permanent s ite ......................
Single fam ily......................
Multifamily.........................
Other structures 6..................
E quipm ent.................................
Residual..........................................
Addenda:
Private fixed investment in
structures................................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures7............................
Nonresidential structures.....
Residential structures...........
2006
2007
2007
I
II
III
IV
I
1
2
3
4
5
6
1,874.7
1,306.8
268.6
111.9
20.4
35.2
1,819.5
1,368.4
303.4
122.0
21.5
41.9
1,815.2
1,321.7
282.6
120.6
20.4
37.1
1,829.3
1,356.6
299.5
121.3
21.3
41.2
1,826.0
1,387.3
311.1
122.9
20.9
43.2
1,807.5
1,407.8
320.3
123.4
23.7
46.1
1,771.2
1,406.9
321.2
123.3
25.5
45.3
7
8
9
39.8
54.6
1,050.6
45.6
64.6
1,064.5
40.9
57.7
1,045.3
45.1
62.8
1,057.4
47.8
67.6
1,073.5
48.5
70.3
1,081.7
47.7
71.8
1,079.3
10
595.9
645.5
623.3
638.5
648.7
671.3
681.1
11
12
13
14
15
16
17
18
19
20
21
22
23
24
213.0
204.8
149.6
155.2
156.2
569.5
560.0
341.7
302.7
39.0
218.2
9.7
-39.3
227.0
215.3
151.7
136.7
148.9
472.8
463.7
254.8
218.9
36.0
210.3
9.6
-73.6
219.9
209.2
147.3
144.8
144.8
506.3
497.1
278.5
240.2
38.4
219.8
9.6
-65.7
225.6
213.4
152.9
135.3
148.0
490.7
481.6
267.8
231.2
36.7
215.0
9.5
-67.0
228.0
216.8
156.0
136.3
150.2
463.3
454.3
250.7
215.5
35.2
204.8
9.6
-72.5
234.5
221.9
150.6
130.3
152.7
430.9
422.1
222.1
188.8
33.5
201.4
9.5
-89.3
238.2
222.0
151.8
125.4
147.6
400.3
391.7
196.2
163.7
32.5
197.2
9.4
-102.4
25
828.9
774.4
783.6
787.2
773.7
753.0
725.1
26
1,060.3
1,074.0
1,054.9
1,066.9
1,083.0
1,091.3
1,088.6
27
28
29
752.0
267.5
484.3
708.9
302.0
400.5
710.5
281.5
425.5
718.5
298.2
414.9
711.9
309.7
395.0
694.7
318.7
366.6
669.0
319.6
338.4
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 te . 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.
Line
2008
2006
2007
2007
II
I
Change in private
in ventories........................
Farm.................................................
Mining, utilities, and construction
Manufacturing.................................
Durable goods industries
Nondurable goods industries....
Wholesale trade..............................
Durable goods industries
Nondurable goods industries....
Retail tra d e .....................................
Motor vehicle and parts dealers
Food and beverage stores .....
General merchandise sto re s. ..
Other retail stores......................
Other industries..............................
Addenda:
Change in private inventories...
Durable goods industries
Nondurable goods industries
Nonfarm industries.....................
Nonfarm change in book
value 1................................
Nonfarm inventory valuation
adjustm ent2 ......................
Wholesale trade.........................
Merchant wholesale trade
Durable goods industries
Nondurable goods
industries.......................
Nonmerchant wholesale
tra d e ...................................
2008
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
46.7
-1.2
5.3
7.8
7.2
0.6
23.7
16.9
6.9
6.6
-3.3
0.6
1.8
7.5
4.4
2.9
3.4
-0.8
0.8
4.6
-3.8
4.4
0.3
4.1
-5.7
-9.9
1.0
0.6
2.6
0.8
-1.6
5.5
6.2
-6.6
0.9
-7.4
5.4
9.7
-4.3
-14.6
-15.1
-0.2
2.4
-1.7
2.5
5.1
4.0
2.9
-5.5
-9.2
3.7
-0.4
-14.9
14.5
3.5
-5.2
0.8
2.7
5.2
0.6
35.4
3.8
-3.9
4.6
1.7
2.9
16.9
-0.4
17.3
13.8
11.5
2.1
-2.0
2.1
0.3
-27.4
0.3
-8.3
10.5
24.9
-14.4
-4.2
6.9
-11.1
-25.4
-30.8
1.1
-0.7
5.0
-0.3
-23.3
-3.7
-8.2
21.5
6.1
15.3
-8.8
4.6
-13.5
-22.7
-13.9
0.5
-1.9
-7.3
-1.4
16
17
18
19
46.7
20.4
26.3
47.8
2.9
-3.4
6.3
-0.5
-1.6
0.9
-2.5
-7.0
5.1
-26.6
31.7
1.1
35.4
10.5
25.0
31.6
-27.4
1.6
-29.0
-27.7
-23.3
-14.6
-8.7
-19.6
20
80.8
52.0
41.1
67.5
45.3
54.0
105.6
21
22
23
24
-33.0
23.7
19.4
13.1
-52.5
4.4
5.7
0.4
-48.1
5.4
3.9
4.8
-66.4
-0.4
3.7
-10.6
-13.7
16.9
18.7
2.2
-81.8
-4.2
-3.5
5.2
-125.2
-8.8
-5.0
11.5
25
6.4
5.3
-0.9
14.3
16.5
I
oo
CO
Line
-16.5
26
4.3
1.5
-4.2
-1.8
-0.6
-3.9
-1.3
1. This series is derived from the Census Bureau series “current cost inventories.”
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The
IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) underlying inventories derived
primarily from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived
primarily from Internal Revenue Service statistics.
Note. 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
2006
2007
2007
I
Change in private
in ventories........................
Farm.................................................
Mining, utilities, and construction
Manufacturing.................................
Durable goods industries..........
Nondurable goods industries....
Wholesale trade..............................
Durable goods industries..........
Nondurable goods industries....
Retail tra d e .....................................
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
tra d e ...................................
II
2008
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
40.3
-0.9
3.9
5.8
6.0
0.1
20.8
15.5
5.7
6.3
-3.3
0.5
1.7
6.8
4.0
0.3
4.5
3.7
-0.5
0.6
3.8
-2.6
3.7
0.3
3.1
-5.1
-10.0
0.8
0.6
2.4
0.8
2.1
0.1
5.0
4.3
-5.0
0.8
-5.3
4.4
8.7
-3.4
-13.5
-15.4
-0.1
2.3
-1.5
2.3
2.4
5.8
3.6
1.9
-4.2
-7.5
2.7
-0.2
-13.3
10.9
3.3
-5.2
0.7
2.5
4.6
0.6
4.3
30.6
4.1
-2.6
3.1
1.4
1.7
13.9
-0.4
12.7
12.7
11.6
1.8
-1.8
1.9
0.3
-0.1
-18.3
2.2
-5.5
8.5
20.5
-9.4
-3.3
6.1
-7.7
-22.9
-30.8
0.9
-0.7
4.5
-0.2
1.8
-14.4
-0.9
-5.2
16.4
5.0
10.4
-5.9
4.1
-8.0
-20.2
-13.9
0.4
-1.7
-6.2
-1.1
2.7
17
18
19
20
21
22
23
40.3
18.5
21.7
41.7
20.8
17.3
11.9
4.5
-3.0
6.9
0.0
3.7
4.8
0.4
0.1
0.8
-0.6
-5.8
4.4
3.3
4.3
5.8
-23.4
25.7
1.3
-0.2
3.3
-9.4
30.6
9.3
20.6
26.0
13.9
15.6
1.9
-18.3
1.5
-18.1
-21.7
-3.3
-2.8
4.6
-14.4
-12.4
-3.1
-13.6
-5.9
-3.0
10.1
24
5.5
4.2
-0.7
11.1
12.5
-6.2
-10.3
25
3.4
-1.0
1.1
-3.2
-1.3
-0.5
-2.7
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.
Note.
June 2008
Survey
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
2007
I
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..................................................................
Addenda:
Private inventories.........................................................
Durable goods industries..........................................
Nondurable goods industries...................................
Nonfarm industries....
Wholesale tra d e .......
Merchant wholesale trade.......................................
Durable goods industries.....................................
Nondurable goods industries...............................
Nonmerchant wholesale trade.................................
Final sales o f dom estic business 2.....................
Final sales o f goods and structures of
dom estic business 2..........................................
Ratios o f private inventories to final sales of
dom estic business:
Private inventories to final sales..................................
Nonfarm inventories to final sales...............................
Nonfarm inventories to final sales of goods and
structures....................................................................
II
IV
2,043.8
210.7
88.6
590.3
342.7
247.6
500.6
282.8
217.8
515.3
155.7
40.6
81.6
237.4
138.3
2,102.3 2,177.7
218.9
231.1
89.4
95.2
650.4
615.8
351.1
366.9
264.7
283.5
521.1
539.6
286.7
294.7
244.9
234.5
515.8
516.8
146.1
148.8
42.1
43.2
82.9
82.0
242.9
244.6
141.3
144.6
16
17
18
19
20
21
22
23
24
25
1,991.2
893.1
1,098.1
1,794.2
487.9
419.0
247.7
171.3
68.9
772.7
2,020.4
895.8
1,124.6
1,823.7
494.3
424.3
246.7
177.6
70.1
783.5
2,043.8
896.1
1,147.6
1,833.0
500.6
431.4
247.6
183.8
69.1
792.0
2,102.3
901.7
1,200.6
1,883.5
521.1
447.2
250.8
196.4
73.9
799.8
2,177.7
921.7
1,256.0
1,946.6
539.6
463.9
259.8
204.1
75.6
801.6
26
465.5
472.0
476.2
478.2
475.6
27
28
2.58
2.32
2.58
2.33
2.58
2.31
2.63
2.36
2.72
2.43
29
3.85
3.86
3.85
3.94
4.09
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2000=100]
Seasonally adjusted
2007
2008
I
II
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
121.155
151.387
145.514
126.560
120.940
135.130
120.162
111.535
133.555
108.059
98.516
122.109
108.375
113.134
111.414
122.826
150.144
150.736
129.627
123.001
139.813
121.765
112.256
136.601
108.822
98.953
121.483
109.099
114.379
112.931
123.668
159.533
146.457
129.441
121.693
141.433
122.245
112.429
137.571
109.355
99.492
122.615
109.785
114.757
113.362
127.566
165.033
151.344
134.403
122.436
153.266
127.529
113.291
149.925
110.805
99.999
126.287
110.615
116.774
115.859
132.428
174.571
164.692
140.694
127.403
161.702
132.523
115.989
158.630
112.227
100.499
129.101
112.417
118.500
118.890
16
17
18
19
20
21
22
23
24
121.155
112.222
129.217
118.504
120.162
118.892
111.915
130.016
128.502
122.826
113.394
131.347
120.425
121.765
120.105
112.641
132.030
132.688
123.668
113.100
133.236
120.526
122.245
120.801
112.816
133.563
131.719
127.566
113.752
140.123
124.284
127.529
125.460
113.691
144.300
141.238
132.428
116.728
146.719
128.736
132.523
130.429
116.441
152.898
146.383
1. Implicit price deflators are as of the end of the quarter and are consistent with inventory stocks.
Estimates in this table are based on the North American Industry Classification System (NAICS).
Note.
Line
I
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from currentdollar inventories in this table is not the current-dollar change in private inventories component of GDP. The former is the
difference between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the
physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at
quarterly rates, whereas, the change in private inventories is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general government, gross value added of nonprofit institutions, compensation paid to domestic workers, and
space rent for owner-occupied housing. It includes a small amount of final sales by farm and by government enterprises.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
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..................................................................
Addenda:
Private inventories.........................................................
Durable goods industries..........................................
Nondurable goods industries...................................
Nonfarm industries........................................................
Wholesale tra d e ............................................................
Merchant wholesale trade........................................
Durable goods industries.....................................
Nondurable goods industries...............................
Nonmerchant wholesale trade.................................
Seasonally adjusted quarterly totals
2008
III
1 1,991.2 2,020.4
2
197.0
196.8
3
88.2
92.1
4
590.2
577.5
5
342.4
346.0
6
235.1
244.2
7
487.9
494.3
8
282.4
284.3
9
203.6
211.9
10
504.9
509.4
11
152.6
152.0
12
39.7
39.7
13
80.3
81.5
14
232.2
236.1
15
135.7
137.7
Line
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
[Billions of chained (200 0) dollars]
Seasonally adjusted quarterly totals
Line
D-41
C u r r e n t B u s in e s s
of
2007
I
Private inventories 1..............................................
Farm....................................................................................
Mining, utilities, and construction....................................
Manufacturing....................................................................
Durable goods industries.............................................
Nondurable goods industries......................................
Wholesale trade.............
Durable goods industries.............................................
Nondurable goods industries......................................
Retail tra d e .....................
Motor vehicle and parts dealers..................................
Food and beverage stores...........................................
General merchandise stores.......................................
Other retail stores.........................................................
Other industries.................................................................
Residual..............................................................................
Addenda:
Private inventories........................................................
Durable goods industries.........................................
Nondurable goods industries..................................
Nonfarm industries....
Wholesale trade.........
Merchant wholesale trade.......................................
Durable goods industries....................................
Nondurable gooas industries..............................
Nonmerchant wholesale trade................................
Final sales o f dom estic business 2....................
Final sales of goods and structures of
dom estic business 2..........................................
Ratios o f private inventories to final sales of
dom estic business:
Private inventories to final sa le s.....................................
Nonfarm inventories to final sales...................................
Nonfarm inventories to final sales of goods and
structures.......................................................................
2008
II
III
IV
I
1 1,643.5
2
130.1
3
60.6
4
456.3
283.1
5
174.0
6
7
406.0
8
254.9
9
152.4
467.3
10
154.9
11
12
32.5
74.1
13
14
205.2
15
121.8
-0.1
16
1,645.0
131.1
61.1
455.3
281.3
174.7
406.0
251.6
155.1
468.1
153.6
32.7
74.7
206.4
121.9
0.8
1,652.6
132.1
60.5
456.1
281.6
175.1
409.5
251.5
158.3
471.2
156.5
33.1
74.3
206.9
122.0
0.7
1,648.0
132.6
59.1
458.2
286.7
172.7
408.6
253.0
156.4
465.5
148.8
33.4
74.1
208.0
121.9
1.3
1,644.4
132.4
57.8
462.3
288.0
175.3
407.2
254.1
154.4
460.5
145.4
33.5
73.7
206.4
121.7
1.7
17
18
19
20
21
22
23
24
25
26
1,643.5
795.9
849.8
1,514.0
406.0
352.4
221.3
131.8
53.6
677.4
1,645.0
790.0
856.2
1,514.4
406.0
353.2
219.0
134.5
52.8
683.7
1,652.6
792.3
861.4
1,520.9
409.5
357.1
219.5
137.6
52.5
691.0
1,648.0
792.7
856.8
1,515.5
408.6
356.5
220.6
136.1
52.3
695.3
1,644.4
789.6
856.1
1,512.1
407.2
355.7
223.1
133.5
51.7
694.5
27
419.5
423.9
429.3
430.8
427.6
28
29
2.43
2.24
2.41
2.21
2.39
2.20
2.37
2.18
2.37
2.18
30
3.61
3.57
3.54
3.52
3.54
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at quarterly
rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general government, gross value added of nonprofit institutions, compensation paid to domestic workers, and
space rent for owner-occupied housing. It includes a small amount of final sales by farm and by government enterprises.
Note. 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.
D-42
6 .
June 2008
N a t io n a l D a t a
In c o m e
a n d
E m p lo y m e n t b y
In d u s tr y
Table 6.1 D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
National incom e w ith o ut capital consum ption a d ju stm e n t.
Domestic in du strie s...................................................................................
Private in du strie s.........................................................................................
Agriculture, forestry, fishing, and hunting...............................................
M ining.........................................................................................................
U tilities...........................................
Construction..................................
Manufacturing...............................
Durable goods..........................
Nondurable goods....................
Wholesale trade.........................................................................................
Retail trade...........................................................................
Transportation and warehousing......................................
Information...........................................................................
Finance, insurance, real estate, rental, and leasing.......
Professional and business services 1..............................
Educational services, health care, and social assistance....................
Arts, entertainment, recreation, accommodation, and food services..
Other services, except government........................................................
G overnm ent...................................................................................................
Rest o f the w o rld .
2006
2007
11.791.8
11.733.8
10,352.1
87.0
199.2
193.7
621.3
1.421.6
777.6
644.0
721.6
864.9
348.2
432.6
2.127.6
1,630.3
994.5
425.8
283.8
1.381.6
58.0
12,375.0
12,279.3
10,827.2
111.6
201.2
210.5
541.3
1,474.3
825.3
649.1
758.6
906.8
369.1
461.2
2,215.8
1.767.5
1.061.6
449.0
298.7
1,452.1
95.7
2007
12,344.4
12.273.8
10.830.9
108.1
203.5
206.1
535.9
1,510.9
818.8
692.2
761.5
901.4
369.7
448.4
2.237.8
1.751.2
1.047.3
452.2
296.9
1.442.9
70.7
12,154.5
12,091.3
10,667.2
102.1
186.8
199.2
571.5
1,459.8
811.3
648.5
744.4
894.8
357.7
459.8
2,180.3
1.749.0
1,026.6
440.8
294.3
1.424.0
63.2
2008
12,443.5
12,342.3
10,879.9
115.0
208.1
213.3
532.4
1.465.6
833.5
632.1
772.6
911.2
376.1
460.3
2.222.7
1,785.1
1,066.9
450.8
299.7
1,462.5
101.2
12.557.7
12.409.8
10.930.9
121.2
206.3
223.6
525.4
1,461.0
837.5
623.5
755.8
919.9
372.9
476.4
2.222.5
1.784.6
1.105.6
452.2
303.8
1,478.9
147.9
12.445.8
12,290.6
10.786.9
1,503.7
155.2
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and administrative and waste management services.
Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
Note.
Table 6.16D. Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
1,553.7
1,296.4
482.2
814.3
257.3
419.8
162.5
1,769.5
1,512.2
505.3
33.8
471.4
1,006.9
35.7
293.4
95.9
20.3
19.3
7.7
-1.9
-1.1
51.7
197.5
29.2
110.4
37.6
20.3
97.0
124.5
41.9
85.4
329.0
257.3
1,595.2
1,257.7
473.4
784.3
337.6
491.0
153.4
1,830.5
1,493.0
498.5
38.4
460.1
994.5
44.4
305.7
121.9
25.2
21.8
8.0
2.0
9.4
55.5
183.8
33.4
86.5
43.9
20.0
98.7
137.5
47.1
103.4
257.5
337.6
2007
I
Corporate profits w ith inventory valuation and capital consum ption adju stm en ts..............
Dom estic in du strie s........................................................................................................................................
Financial1......................................................................................................................................................
Nonfinancial...................................................................................................................................................
Rest o f the w o rld .................................
Receipts from the rest of the w orld.
Less: Payments to the rest of the w orld.....................................................................................................
Corporate profits w ith inventory valuation adjustm ent.................................................................
Dom estic industries........................................................................................................................................
Financial..........................................................................................................................................................
Federal Reserve banks............................................................................................................................
Other financial2...
Nonfinancial.............
Manufacturing......
Durable goods.......................................................................................................................................
Fabricated metal products..............................................................................................................
Machinery.........................................................................................................................................
Computer and electronic products.................................................................................................
Electrical equipment, appliances, and components....................................................................
Motor vehicles, bodies and trailers, and p a rts.............................................................................
Other durable goods 3 ....................................................................................................................
Nondurable goods.................................................................................................................................
Food and beverage and tobacco products....................................................................................
Petroleum and coal products.........................................................................................................
Chemical products...........................................................................................................................
Other nondurable goods 4 ..............................................................................................................
Wholesale trade...............
Retail trade........................
Transportation and warehousing.............................................................................................................
Other nonfinancial5.........
Rest o f the w o rld ..............................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
'•11
3?
33
1,547.7
1,249.8
468.7
781.1
297.9
448.7
150.8
1,775.6
1,477.7
493.0
38.5
454.5
984.7
36.4
298.9
113.0
23.3
21.8
9.0
1.3
4.6
52.9
185.9
30.1
94.9
41.0
20.0
97.8
134.3
39.1
109.5
268.7
297.9
II
1,642.4
1,327.8
521.4
806.4
314.6
482.6
168.0
1,876.8
1,562.1
546.4
39.2
507.2
1,015.7
41.2
347.0
117.2
22.2
22.5
7.7
0.7
12.3
51.8
229.8
35.4
136.5
41.8
16.1
104.9
134.4
45.8
92.9
249.5
314.6
2008
III
1,621.9
1,280.9
488.9
792.0
341.0
510.2
169.1
1,859.4
1,518.3
514.2
38.4
475.8
1,004.1
46.4
296.8
128.5
26.5
22.3
8.5
2.4
12.1
56.7
168.3
34.3
70.6
43.4
20.0
109.8
140.2
55.4
100 8
254.7
341.0
IV
1,569.0
1,172.2
414.5
757.7
396.8
522.5
125.7
1,810.5
1,413.7
440.3
37.6
402.7
973.4
53.7
280.3
129.2
28.8
20.4
7.0
3.6
8.7
60.7
151.1
33.7
44.0
49.2
24.1
82.2
141.3
48.3
1104
257.2
396.8
I
1,574.2
1,172.4
411.5
760.9
401.8
533.1
131.3
1,647.9
1,246.2
418.7
36.8
381.9
827.5
401.8
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit intermediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic mineral products; primary metals; other transportation equipment; furniture and related products; and miscellaneous manufacturing.
4. Consists of textile mills and textile product mills; apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
5. Consists of agriculture, forestry, fishing, and hunting; mining; construction; real estate and rental and leasing; professional, scientific, and technical services; administrative and waste management services; educa
tional services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services, except government.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
Su r v e y
June 2008
C u r r e n t B u s in e s s
of
D -43
7. Supplemental Tables
Table 7.1. Selected Per Capita Product and Income Series in
Current and Chained Dollars
Table 7.2.1 B. Percent Change from Preceding Period in
Real Motor Vehicle Output
[Percent]
[Dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
C urrent dollars:
Gross domestic product...........
Gross national product.............
Personal income........................
Disposable personal incom e....
Personal consumption
expenditures..........................
Durable goods.......................
Nondurable goods................
S ervices.................................
Chained (2000) dollars:
Gross domestic product...........
Gross national product.............
Disposable personal incom e....
Personal consumption
expenditures..........................
Durable goods.......................
Nondurable goods................
S ervices.................................
Population (midperiod, thousands)
2006
2007
2007
Line
2008
I
II
III
IV
I
1
2
3
4
44,100
44,294
36,709
32,183
45,819
46,136
38,617
33,705
45,022
45,232
38,103
33,270
45,642
45,877
38,378
33,480
46,191
46,525
38,800
33,874
46,415
46,903
39,182
34,193
46,716
47,227
39,551
34,562
5
6
7
8
30,831
3,506
8,984
18,341
32,223
3,569
9,379
19,275
31,695
3,568
9,167
18,960
32,068
3,563
9,357
19,149
32,355
3,576
9,411
19,368
32,770
3,570
9,579
19,621
33,061
3,504
9,704
19,853
9
10
11
37,832
38,002
28,064
38,290
38,557
28,663
37,915
38,095
28,650
38,188
38,387
28,532
38,548
38,831
28,739
38,505
38,912
28,730
38,510
38,934
28,794
12 26,885 27,402 27,294 27,329 27,450 27,534 27,544
13
3,945
4,090
4,064
4,072
4,106
4,042
4,116
14
7,921
7,813
7,902
7,925
7,929
7,929
7,905
15 15,192 15,475 15,384 15,437 15,505 15,574 15,656
16 299,199 302,087 301,004 301,667 302,452 303,225 303,868
2006
2007
2007
I
M otor vehicle o u tp u t.....
Auto output....................
Truck output...................
Final sales o f dom estic product
Personal consum ption
e xp e n d itu re s........................
New motor vehicles...............
Autos...................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks (including
utility vehicles)..............
Private fixed investm ent.........
New motor vehicles...............
Autos...................................
Trucks.................................
Light trucks (including
utility vehicles)..........
Other...............................
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks (including
utility vehicles)..............
Gross governm ent
investm ent............................
Autos.......................................
Trucks.....................................
Net exports
Exports...................................
Autos...................................
Trucks.................................
Imports....................................
Autos...................................
Trucks.................................
Change in private inventories....
Autos............................................
New..........................................
Domestic
Foreign...
U sed..........
Trucks.............
New............
Domestic
Foreign...
Used 1.....................................
Addenda:
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new a u to s 3
2008
II
III
IV
I
1
2
3
4
-1.3
3.2
-3.8
-1.2
-2.1
-2.2
-2.1
-0.4
6.2
-11.7
19.1
4.6
1.0
-0.3
1.8
-2.6
13.1
14.9
12.0
-9.8
-26.0
-4.8
-36.8
8.1
-12.3
-7.6
-15.2
-19.3
b
6
7
-3.4
-5.5
2.0
2.4
2.1
-3.0
12.2
20.1
-1.7
-3.1
-7.9
5.5
-7.2
-16.4
-32.0
5.0
14.0
45.0
-14.7
-23.3
-15.9
8
-10.7
6.1
39.5
-16.7
-2.9
-4.5
-28.6
9
10
1.2
-0.8
3.2
0.0
-2.5
-2.9
8.1
1.7
14.4
8.3
-10.6
-13.9
4.7
6.2
11
12
13
14
15
3.2
11.7
8.5
5.1
10.3
6.2
-15.2
-7.3
1.3
-11.5
-2.2
-32.8
-15.0
-8.5
-18.2
14.3
-28.5
-22.8
0.9
-33.2
20.1
14.8
16.6
23.7
12.8
-7.6
-11.8
-11.9
-7.9
-14.1
3.5
-24.3
-19.1
-25.3
-15.2
16
1/
10.3
10.2
-0.9
-36.7
2.3
-54.2
-12.9
-71.7
33.7
-43.7
-19.3
12.5
-12.9
-24.1
18
19
1.9
-1.1
11.4
6.0
37.5
15.8
-11.0
-9.1
19.9
-0.2
-12.0
-12.6
-9.2
12.2
20
4.9
16.5
62.0
-12.7
41.0
-11.5
-24.8
21
22
23
?4
25
26
27
28
29
30
31
3?
33
34
35
36
37
38
3P
40
41
1.9
7.6
0.3
-15.5
-4.6
-18.8
-45.7
-35.3
-48.5
-30.6
24.3
-43.4
-28.9
-50.5
-18.9
22.3
106.3
0.3
-26.4
-41.8
-19.3
10.9
16.4
6.1
9.0
10.7
7.5
22.6
31.8
13.8
-2.7
-1.6
-3.6
25.1
28.3
21.9
-18.0
-37.7
6.0
53.5
53.9
53.1
-15.7
-2.8
-26.0
49.2
80.7
21.3
40.2
58.2
24.6
14.3
23.0
5.0
-10.9
-16.2
-5.3
-17.7
-1.6
-34.0
-12.9
-3.3
-21.6
42
0.6
-3.2
-4.6
-11.2
-2.7
0.8
-17.5
43
44
45
8.1
2.5
8.7
0.0
-3.8
3.5
-2.3
-9.0
-5.3
-7.4
-8.5
13.6
29.4
23.1
-10.5
-14.7
1.4
5.1
-18.3
5.9
-30.9
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
D-44
June 2008
N a t io n a l D a t a
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2 000 = 1 00]
[Index numbers, 20 0 0 = 1 0 0 ]
Seasonally adjusted
Line
2006
2007
2007
I
M otor vehicle o u tp u t......
Auto output.....................
Truck output....................
Final sales o f dom estic product
Personal consum ption
expenditures.........................
New motor vehicles...............
A utos...................................
Light trucks (including
utility vehicles)...............
Net purchases of used autos
and used light trucks.........
Used autos.........................
Used light trucks (including
utility vehicles)...............
Private fixed in ve stm e n t.........
New motor vehicles...............
A utos...................................
Trucks..................................
Light trucks (including
utility vehicles)...........
O ther...............................
Net purchases of used autos
and used light tru cks.........
Used autos.........................
Used light trucks (including
utility vehicles)...............
Gross governm ent investm ent
A utos........................................
Trucks......................................
Exports....................................
A utos...................................
Trucks..................................
Im ports....................................
A utos...................................
Trucks..................................
Change in private in ve n to rie s....
Foreign................................
Foreign................................
Addenda:
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
1
2
3
4
115.213 112.741
103.924 101.664
123.323 120.698
119.702 119.275
b 113.419 116.166
6 117.741 120.178
7 105.880 102.741
II
III
IV
112.874 113.165 116.692 108.233
100.274 100.196 103.727 102.459
121.928 122.487 126.010 112.368
120.809 120.025 116.981 119.285
8 128.718
136.595
142.225
135.885
134.905
133.367
122.600
9 105.202
10 93.144
108.543
93.184
105.914
92.820
107.989
93.220
111.677
95.100
108.591
91.596
109.855
92.976
11
12
13
14
15
127.316 121.895
101.346 106.849
105.840 109.818
97.284 95.040
111.357 119.347
119.898
119.456
114.114
96.037
125.784
126.036 131.951
98.260 101.713
102.935 106.969
95.253 100.448
107.886 111.173
129.381 130.500
98.562 91.925
103.638 98.299
98.397 91.464
107.020 102.703
16 127.623
17 119.530
126.516
75.621
126.851
100.416
122.540
73.257
131.775
63.461
124.899
65.354
120.655
60.995
18 100.139
19 91.354
111.510
96.864
112.283
99.450
109.067
97.106
114.137
97.054
110.552
93.846
107.904
96.592
110.124 128.293 126.954 122.732
121.610 102.787 113.205 103.316
109.110 104.046 103.976 109.791
126.458 102.642 116.839 101.327
133.751
94.870
92.072
96.160
129.736
99.757
110.347
96.243
120.827
92.385
96.385
91.206
20
21
22
23
?4
2b
26
27
28
29
30
31
V
33
34
3S
36
37
38
39
40
41
174.003
185.330
164.151
118.872
106.996
132.809
213.275 184.857
244.294 205.074
186.833 167.514
115.714 115.322
105.270 100.922
127.987 132.154
205.753
228.402
186.327
110.493
100.213
122.566
2006
2007
I
II
III
IV
I
1
2
3
4
97.777
99.652
96.552
97.650
97.272
98.704
96.315
96.934
97.247
99.053
96.068
96.905
97.523
98.982
96.546
97.182
97.415
98.898
96.424
97.071
96.904
97.884
96.221
96.576
95.795
96.819
95.084
95.532
b
6
7
97.255
95.598
97.618
96.049
94.628
97.216
95.891
94.728
97.281
95.912
94.738
97.295
96.246
94.600
97.262
96.148
94.446
97.026
95.507
93.992
96.634
8
94.136
92.744
92.869
92.875
92.665
92.568
92.067
9 100.725 98.977
10 102.747 100.304
98.281
99.766
98.326 99.642
99.797 101.027
Line
I
104.745
100.450
107.818
113.055
117.570 116.663 114.513 115.919 111.403
123.756 121.242 115.926 119.789 112.120
104.206 105.608 95.904 105.247 100.778
227.388 235.102 223.918
264.829 278.871 277.717
195.541 197.951 178.422
120.224 116.817 112.853
112.396 107.549 106.661
129.488 127.740 120.195
M otor vehicle o u tp u t.......
Auto output.....................
Truck output....................
Final sales of dom estic product
Personal consum ption
exp en d itu res.........................
New motor vehicles...............
Autos....................................
Light trucks (including
utility vehicles)...............
Net purchases of used autos
and used light trucks..........
Used a uto s.........................
Used light trucks (including
utility vehicles)...............
Private fixed investm ent..........
New motor vehicles...............
Autos....................................
Trucks..................................
Light trucks (including
utility vehicles)...........
Other................................
Net purchases of used autos
and used light trucks..........
Used a uto s.........................
Used light trucks (including
utility vehicles)...............
Gross governm ent investm ent
Autos.........................................
Trucks......................................
E xports....................................
Autos....................................
Trucks..................................
Im ports....................................
Autos....................................
Trucks..................................
Change in private inventories....
Autos.............................................
Foreign.................................
Foreign.................................
42
116.188
112.436
115.284
111.917
111.153
111.388
106.156
43
44
45
112.655
94.570
121.519
112.679
90.965
125.722
111.769
90.027
124.071
109.633
88.044
128.086
116.937
92.736
124.583
112.376
93.053
126.149
106.823
94.393
115.016
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
Seasonally adjusted
2008
Addenda:
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
2007
2008
99.658 98.637
100.625 100.255
11 98.637 97.528 96.697 96.755 98.142 98.517 96.944
12 106.287 107.869 107.809 108.760 107.560 107.346 106.321
98.001
13 98.061
97.706 98.230 98.097 97.971
97.619
14 97.620 97.216 97.280 97.298 97.261
97.026 96.632
15 98.386 98.516 98.025 98.826 98.638 98.576 98.249
16 94.156 92.772 92.896 92.906 92.693 92.594 92.092
17 111.896 117.203 114.225 118.173 118.129 118.284 118.946
18
19
20
21
22
23
?4
2b
26
27
28
29
30
31
V
33
34
35
3fi
37
38
39
40
41
88.059
89.053
85.047
86.304
84.432
85.658
84.340
85.588
85.712
86.951
85.706
87.018
86.277
87.304
87.087 83.829 83.240 83.129 84.505 84.441
85.256
105.599 108.299 106.987 108.461 109.164 108.586 108.692
101.846 103.585 103.271 102.038 105.540 103.489 103.876
106.746 109.789 108.119 110.595 110.216 110.225 110.213
107.971
105.471
110.375
105.216
103.824
106.685
108.910 108.556 108.768 108.989
106.081 105.898 105.998 106.030
111.656 111.116 111.448 111.882
106.223 105.599 105.849 106.198
104.749 104.010 104.277 104.742
107.772 107.263 107.498 107.732
109.325
106.398
112.178
107.245
105.969
108.595
109.531
106.529
112.479
107.863
106.872
108.920
42
99.078
98.708
98.542
98.818
98.803
98.667
97.959
43
44
45
95.640
98.857
97.619
94.650
98.862
97.217
94.749
98.899
97.281
94.762
98.952
97.297
94.621
98.806
97.261
94.466
98.791
97.026
94.008
98.468
96.633
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-45
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (200 0) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
I
M otor vehicle output
Auto output.....................
Truck output....................
Final sales o f dom estic product
Personal consum ption
exp en d itu res.........................
New motor vehicles...............
A utos...................................
Light trucks (including
utility vehicles)...............
Net purchases of used autos
and used light trucks
Used autos.........................
Used light trucks (including
utility vehicles)...............
Private fixed in ve stm e n t.....
New motor vehicles...............
A utos...................................
Trucks..................................
Light trucks (including
utility vehicles)...........
O ther...............................
Net purchases of used autos
and used light tru cks.....
Used autos.........................
Used light trucks (including
utility vehicles)...............
G ross government
investm ent..............................
A utos.......................................
Trucks......................................
Net e xp orts.................................
Exports....................................
A utos...................................
Trucks..................................
Im ports....................................
A utos...................................
Trucks ..................................
Change in private in ve ntorie s....
Autos............................................
N ew ..........................................
D omestic............................
Foreign................................
Used.........................................
Trucks..
New.
Dom estic.............................
Foreign................................
Used 1 ’ ...................................
Addenda:
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks
Domestic output of new autos 2
Sales of imported new autos 3
II
III
IV
Line
2006
2007
I
1
2
3
4
411.1
156.5
254.7
414.3
400.6
151.6
249.0
409.8
400.1
150.1
250.0
414.9
403.9
149.8
254.0
413.4
415.8
155.0
260.8
402.5
382.5
151.5
231.0
408.3
365.4
146.9
218.5
382.8
5
6
7
359.0
241.2
107.1
363.2
243.7
103.5
367.0
251.2
105.0
364.2
246.1
106.4
358.8
235.0
96.6
362.8
242.4
105.8
346.3
225.8
100.9
8
134.1
140.2
146.2
139.7
138.3
136.6
124.9
9
10
117.9
58.0
119.5
56.7
115.8
56.2
118.1
56.4
123.8
58.3
120.4
55.9
120.5
56.5
11
12
13
14
15
59.8
150.2
216.4
71.6
144.8
62.8
129.3
200.6
72.2
128.3
59.6
136.2
207.5
70.6
136.9
61.7
126.4
195.5
70.8
124.7
65.5
129.4
202.9
74.6
128.3
64.5
125.1
196.3
72.9
123.4
64.0
115.6
185.6
67.5
118.0
16
17
103.4
41.4
101.0
27.3
101.4
35.5
98.0
26.8
105.1
23.2
99.5
23.9
95.6
22.4
18
19
-66.2
-32.4
-71.3
-33.3
-71.3
-34.0
-69.1
-33.2
-73.5
-33.7
-71.2
-32.6
-70.0
-33.6
20
-33.8
-37.9
-37.3
-36.0
-39.9
-38.6
-36.3
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
15.9
3.8
12.1
-110.8
49.1
23.9
25.2
159.9
77.1
82.8
-3.2
1.6
4.1
2.3
1.8
-2.5
-4.7
-2.8
-3.5
0.8
-2.0
13.8
3.7
10.1
-96.4
60.7
31.7
29.0
157.1
76.6
80.6
-9.2
-6.3
-2.6
-2.2
-0.3
-3.7
-2.9
-2.7
-2.1
-0.6
-0.3
15.0
3.7
11.3
-103.3
52.4
26.6
25.9
155.7
72.9
82.8
-14.8
-5.1
-2.6
-0.1
-2.5
-2.5
-9.7
-10.4
-10.1
-0.3
0.6
13.9
3.8
10.1
-91.1
58.5
29.6
28.8
149.5
72.5
77.0
-9.6
-11.6
-7.8
-3.3
-4.5
-3.8
2.0
3.7
5.5
-1.9
-1.7
12.8
3.3
9.5
-98.5
64.7
34.4
30.4
163.2
81.7
81.5
13.3
3.2
6.2
2.6
3.7
-3.1
10.1
9.0
5.9
3.1
1.1
13.4
3.9
9.5
-93.0
67.1
36.3
30.8
160.2
79.1
81.0
-25.8
-11.6
-6.2
-8.1
1.9
-5.4
-14.2
-13.0
-9.9
-3.1
-1.2
12.4
3.4
9.0
-91.5
64.1
36.2
27.9
155.6
79.1
76.5
-17.4
-4.8
0.7
-3.3
4.0
-5.5
-12.5
-8.6
-10.5
1.9
-3.9
42
525.1
506.2
518.2
504.5
501.0
501.3
474.3
43
44
45
175.0
103.3
99.5
173.2
99.4
102.5
172.0
98.4
101.2
168.8
96.3
104.5
179.7
101.3
101.6
172.4
101.6
102.6
163.1
102.7
93.2
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
Seasonally adjusted at annual rates
2008
2007
I
M otor vehicle output
Auto output.....................
Truck output....................
Final sales o f d om estic product
Personal consum ption
e xp e n d itu re s.........................
New motor vehicles................
Autos....................................
Light trucks (including
utility vehicles)...............
Net purchases of used autos
and used light trucks ..
Used a uto s.........................
Used light trucks (including
utility vehicles)...............
Private fixed investm ent
New motor vehicles................
Autos....................................
Trucks..................................
Light trucks (including
utility vehicles)...........
Other................................
Net purchases of used autos
and used light trucks
Used a uto s.........................
Used light trucks (including
utility vehicles)...............
Gross governm ent investm ent
Autos.........................................
Trucks......................................
Net e x p o rts .................................
Exports
Autos....................................
Trucks
Imports
Autos....................................
Trucks ..................................
Change in private inventories
Autos.............................................
New...........................................
Domestic..............................
Foreign.................................
U sed........................................
Trucks...
New..
Domestic..............................
Foreign.................................
Used 1......................................
Residual............................................
Addenda:
Final sales of motor vehicles to
domestic purchasers..............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
II
2008
III
IV
I
1
2
3
4
420.5
157.0
263.8
424.3
411.5
153.6
258.2
422.7
412.0
151.5
260.8
428.2
413.0
151.4
262.0
425.4
425.9
156.7
269.5
414.6
395.0
154.8
240.3
422.8
382.3
151.8
230.6
400.7
5
6
7
369.2
252.3
109.7
378.1
257.5
106.4
382.7
265.1
107.9
379.7
259.8
109.4
372.7
248.4
99.3
377.3
256.6
109.0
362.6
240.2
104.4
8
142.4
151.2
157.4
150.4
149.3
147.6
135.7
9
10
117.0
56.5
120.8
56.5
117.8
56.3
120.1
56.5
124.2
57.7
120.8
55.6
122.2
56.4
11
12
13
14
15
60.7
141.3
220.7
73.4
147.1
64.4
119.9
204.7
74.3
130.3
61.7
126.4
212.4
72.6
139.6
63.8
116.2
199.1
72.8
126.2
66.8
120.3
206.9
76.7
130.1
65.5
116.6
200.4
75.2
125.2
66.0
108.7
190.1
69.9
120.1
16
17
109.8
37.0
108.9
23.4
109.2
31.0
105.5
22.7
113.4
19.6
107.5
20.2
103.8
18.9
18
19
-75.2
-36.4
-83.8
-38.6
-84.3
-39.6
-81.9
-38.7
-85.7
-38.7
-83.0
-37.4
-81.0
-38.5
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
-38.8
15.1
3.7
11.4
-106.5
45.5
22.7
22.8
152.0
74.3
77.6
-3.0
1.7
4.1
2.4
1.7
-2.8
-4.3
-2.3
-3.1
0.7
-2.2
0.8
-45.2
12.7
3.5
9.2
-92.2
55.7
29.9
26.0
147.9
73.1
74.8
-9.2
-6.6
-2.6
-2.3
-0.3
-4.2
-2.8
-2.4
-1.9
-0.5
-0.3
-1.0
-44.7
14.0
3.5
10.5
-99.1
48.3
25.1
23.3
147.4
70.1
77.2
-14.7
-5.4
-2.6
-0.1
-2.4
-2.9
-9.0
-9.0
-8.7
-0.3
0.7
-1.2
-43.3
12.8
3.7
9.1
-87.5
53.8
27.9
25.9
141.3
69.6
71.6
-9.6
-12.2
-7.8
-3.4
-4.3
-4.3
1.7
3.0
4.8
-1.8
-1.9
-0.6
-47.1
11.7
3.1
8.6
-94.3
59.4
32.4
27.2
153.7
78.0
75.7
13.3
3.3
6.2
2.6
3.5
-3.5
9.5
7.9
5.0
2.9
1.3
-0.5
-45.7
12.4
3.8
8.6
-87.9
61.4
34.1
27.5
149.3
74.7
74.6
-25.7
-12.1
-6.1
-8.2
1.8
-6.2
-13.4
-11.5
-8.6
-2.9
-1.4
-1.7
-42.6
11.4
3.3
8.2
-85.8
58.5
34.0
24.8
144.3
74.0
70.2
-17.0
-5.0
0.7
-3.3
3.7
-6.2
-11.5
-7.3
-9.1
1.8
-4.4
-fl.3
43
530.0
512.9
525.9
510.5
507.0
508.1
484.2
44
45
46
183.0
104.5
101.9
183.1
100.5
105.4
181.6
99.5
104.1
178.1
97.3
107.4
190.0
102.5
104.5
182.6
102.8
105.8
173.5
104.3
96.5
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
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 is
the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
June 2008
D-46
B. N IPA -R elated Table
T a b le B . 1 p r e s e n t s t h e m o s t r e c e n t e s t im a t e s o f p e r s o n a l i n c o m e a n d it s c o m p o n e n t s a n d t h e d i s p o s i t i o n
o f
p e r s o n a l in c o m e . T h e s e e s t im a t e s w e r e r e le a s e d o n M a y 3 0 , 2 0 0 8 .
Table B.1 Personal Income and Its Disposition
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
2007
2006
2008
2007'
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Personal In co m e ....................................................................... 10,983.4 11,665.6 11,564.7 11,529.8 11,575.7 11,626.5 11,683.7 11,735.9 11,785.5
Compensation of employees, received.................................... 7.440.8 7,858.6 7.821.1 7,776.5 7.796.8 7.832.3 7.853.7 7,876.4 7,918.1
Wage and salary disbursements............................................... 6,018.2 6,366.1 6,343.6 6.298.3 6.314.1 6.344.2 6.358.6 6,376.8 6.412.9
Private industries.................................................................... 4.997.6 5.298.3 5,288.5 5.239.1 5.252.3 5.279.4 5.290.8 5.303.1 5,335.7
Goods-producing industries..................................................
1.166.8 1.217.3 1,217.3 1.210.4 1.211.3 1,216.1 1.215.8 1.217.1 1,219.6
754.9
754.2
756.0
Manufacturing.....................................................................
731.0
756.2
760.8
753.9
752.5
755.1
Service-producing industries................................................
3,830.8 4,081.0 4.071.2 4.028.7 4,041.0 4.063.3 4,075.0 4,086.0 4.116.0
985.1 1.033.5 1.027.0 1,026.0 1.032.2 1,042.9 1.031.9 1,031.3 1.036.9
Trade, transportation, and utilities....................................
Other services-producing industries................................ 2.845.7 3.047.5 3.044.2 3.002.7 3.008.8 3.020.4 3,043.2 3.054.7 3.079.1
Government............................................................................. 1,020.6 1,067.8 1.055.1 1.059.2 1.061.8 1,064.7 1.067.7 1.073.7 1.077.2
O ct.r
Nov.'
D e c/
Jan.r
Feb/
M ar/
A p r/
11,831.4 11,875.8 11,935.6 11,963.9 12,023.2 12,067.9 12,088.0
7,946.3 7,986.8 8,022.1 8,068.9 8.098.6 8.134.7 8,124.1
6.435.2 6.470.0 6.500.0 6.534.3 6.558.1 6.588.4 6,574.0
5.354.2 5.385.7 5.411.1 5.434.8 5.453.7 5.480.6 5.462.4
1.224.1 1.233.0 1,233.7 1.234.9 1,236.5 1,241.0 1,229.6
763.7
767.4
762.3
756.5
762.8
762.3
764.9
4.130.1 4.152.7 4,177.4 4.199.9 4.217.2 4.239.6 4,232.8
1,042.0 1.045.3 1.053.2 1,054.7 1.054.8 1.057.4 1.056.4
3.088.2 3,107.5 3.124.2 3,145.2 3.162.4 3,182.2 3.176.4
1,080.9 1.084.3 1,088.9 1.099.4 1.104.4 1.107.8 1.111.5
Supplements to wages and salaries.........................................
Employer contributions for employee pension and
insurance funds..................................................................
Employer contributions for government social insurance...
1,422.6
1,492.5
1,477.5
1.478.3
1,482.6
1,488.1
1.495.1
1,499.6
1.505.2
1,511.1
1,516.8
1,522.1
1,534.6
1.540.5
1.546.4
1,550.1
970.7
451.8
1,016.8
475.8
1,002.7
474.8
1.007.3
471.0
1,010.8
471.8
1,014.5
473.6
1.019.2
476.0
1,022.8
476.8
1.026.2
479.0
1,030.7
480.4
1,034.3
482.5
1,037.7
484.3
1,044.1
490.6
1.048.5
492.0
1.052.5
493.9
1,057.4
492.7
Proprietors’ income with IVA and CCAdj..................................
Farm .........................................................................................
Nonfarm...................................................................................
1,006.7
19.4
987.4
1,042.6
36.2
1,006.4
1,032.9
30.5
1,002.3
1.035.1
31.9
1.003.1
1.039.1
33.1
1.006.1
1,041.1
34.4
1,006.7
1,051.3
36.2
1,015.1
1,050.7
38.7
1,012.0
1.043.9
41.0
1.002.9
1,050.6
42.1
1,008.5
1,059.8
43.7
1,016.1
1,057.4
45.7
1,011.7
1,062.3
41.4
1,020.9
1.055.1
37.9
1.017.2
1.050.2
33.0
1.017.2
1.049.3
33.0
1,016.2
Rental income of persons with C C A dj.....................................
54.5
65.4
55.4
58.3
61.6
66.5
66.9
68.3
70.1
74.0
77.8
81.6
80.3
78.8
77.6
87.6
Personal income receipts on assets.........................................
Personal interest incom e.......................................................
Personal dividend income......................................................
1,796.5
1,100.2
696.3
1,947.2
1,154.7
792.5
1,906.6
1,141.5
765.0
1,918.4
1,145.0
773.4
1,930.1
1,148.4
781.7
1,941.5
1,151.8
789.7
1,959.0
1,161.5
797.5
1,976.3
1,171.1
805.1
1,993.2
1,180.8
812.4
1,996.5
1,177.0
819.5
1,999.9
1,173.2
826.6
2,003.1
1,169.4
833.7
2.007.4
1.169.4
838.1
2,012.7
1,169.3
843.4
2,017.6
1,169.2
848.4
2.023.0
1,170.3
852.8
Personal current transfer receipts.............................................
Government social benefits to persons...............................
Old-age, survivors, disability, and health insurance
benefits............................................................................
Government unemployment insurance benefits............
Other....................................................................................
Other current transfer receipts, from business (net)..........
1,612.5
1,585.3
1.731.7
1.703.8
1,725.3
1,697.6
1,711.4
1,683.7
1.719.7
1,691.9
1.720.4
1.692.5
1,733.2
1,705.4
1.746.6
1.718.6
1,747.1
1,719.0
1,754.0
1,725.9
1.746.0
1,717.9
1,769.5
1,741.4
1,757.5
1,729.4
1,793.6
1,765.5
1,807.3
1,779.2
1,821.6
1,793.4
946.4
29.9
609.0
27.2
1,022.5
31.9
649.4
27.9
1,007.8
31.9
657.9
27.7
1,010.2
31.9
641.5
27.7
1.022.7
31.6
637.7
27.8
1,027.3
31.5
633.7
27.9
1,027.6
31.5
646.2
27.9
1.038.7
32.1
647.7
28.0
1,037.4
31.5
650.2
28.0
1,035.8
31.5
658.5
28.1
1.027.1
32.3
658.5
28.1
1,045.3
33.3
662.7
28.2
1,031.0
33.4
665.0
28.1
1,064.3
34.6
666.6
28.1
1,074.8
35.7
668.7
28.2
1,071.8
37.1
684.4
28.2
Less:Contributions for government social insurance.............
927.6
979.9
976.6
969.9
971.6
975.2
980.4
982.3
986.9
989.9
994.4
998.2
1,012.5
1,015.7
1,019.6
1,017.6
Less; Personal current ta x e s.................................................
1,354.3
1,483.7
1,469.1
1,470.0
1,476.8
1,486.1
1,484.3
1,488.7
1,496.3
1,504.3
1,513.0
1,520.8
1,507.6
1,515.7
1,525.0
1,521.6
Equals: Disposable personal in co m e ..................................
9,629.1 10,181.9 10,095.5 10,059.8 10,098.9 10,140.4 10,199.4 10,247.2 10,289.2 10,327.1 10,362.9 10,414.7 10,456.3 10,507.6 10,543.0 10,566.4
Less: Personal o utlay s............................................................
9,590.3 10,134.1
Personal consumption expenditures.........................................
Durable g oods........................................................................
Nondurable goods..................................................................
Services
.............................................................................
Personal interest payments1......................................................
Personal current transfer payments..........................................
To government........................................................................
To the rest of the world (net)..................................................
9.224.5
1,048.9
2,688.0
5.487.6
238.0
127.8
78.9
48.9
9.734.2
1.078.2
2.833.2
5,822.8
262.8
137.1
86.1
51.1
9.573.0
1,073.6
2.786.1
5,713.4
238.3
134.4
84.1
50.4
9.631.8
1.068.9
2,794.6
5,768.3
248.9
135.1
84.7
50.5
9.684.5
1.086.6
2,838.1
5,759.8
259.5
135.7
85.3
50.5
9.705.6
1.068.6
2.835.4
5.801.5
270.1
136.4
85.9
50.5
9,742.0
1,063.4
2.854.3
5.824.3
272.9
138.7
86.5
52.2
9,783.1
1,085.8
2.830.6
5.866.7
275.8
139.3
87.1
52.2
9.832.0
1,095.7
2.854.0
5,882.3
278.7
140.0
87.8
52.2
9,865.9
1,092.8
2,868.4
5,904.7
275.6
139.4
88.1
51.2
9,960.7
1,083.0
2,920.2
5,957.5
272.5
139.7
88.5
51.2
Equals: Personal s a v in g .........................................................
Personal saving as percentage of disposable personal
in co m e ....................................................................................
38.8
47.8
149.8
43.9
19.1
28.4
45.7
48.9
38.5
46.2
-10.1
21.9
26.8
77.6
78.9
75.0
0.4
0.5
1.5
0.4
0.2
0.3
0.4
0.5
0.4
0.4
-0.1
0.2
0.3
0.7
0.7
0.7
8,396.9
8,658.6
8,659.9
8,604.5
8,597.0
8,619.9
8,660.3
8,702.5
8,713.5
8,728.4
8,759.0
8,761.7
8,760.7
9,945.7 10,015.8 10,079.7 10,112.0 10,153.7 10,198.3 10,250.6 10,280.9 10,373.0 10,392.8 10,429.5 10,429.9 10,464.1 10,491.4
9,983.2 10,027.1 10,034.9 10,076.6 10.098.0
1.071.7 1.067.1 1.070.0 1,056.9 1.051.5
2.924.8 2.945.1 2,938.9 2,962.4 2,966.0
5,986.7 6,014.8 6.026.0 6,057.3 6.080.5
251.0
261.5
253.6
245.6
269.5
142.4
141.0
141.4
141.9
140.1
90.7
89.3
89.7
90.2
88.9
51.7
51.7
51.7
51.7
51.2
Addenda:
Disposable personal income:
Billions of chained (2000) dollars2 ......................................
Per capita:................................................................................
Current dollars.........................................................................
Chained (2000 dollars)..........................................................
Population (midperiod, thousands)3 .........................................
32,183
33,705 33,517 33,374 33,478 33,587 33,753 33,880
28,551
28,660 28,773
28,064 28,663 28,751
28,546 28,499
299,199 302,087 301,205 301,426 301,660 301,914 302,178 302,450
Personal consumption expenditures:
Billions of chained (2000) dollars..........................................
Durable goods........................................................................
Nondurable g oods..................................................................
Services
.............................................................................
Implicit price deflator, 2000=100 ............................................
8,044.1
1.180.5
2,337.7
4.545.5
114.670
8.277.8
1,235.4
2.392.8
4.674.8
117.590
8,211.7
1.223.4
2.388.4
4,625.1
116.578
8,238.5
1.220.7
2.379.8
4,660.4
116.913
8.244.3
1,242.9
2.386.4
4,643.8
117.469
8,250.2
1,221.4
2,385.1
4,665.9
117.640
8,272.0
1.217.2
2,398.8
4.676.3
117.772
8,308.4
1.247.3
2,389.7
4.698.3
117.750
8,721.7
8,697.1
8,716.5
33,988 34,084
28,783 28,785
302,728 302,989
34,175
28,682
303,228
34,433 34,580 34,673 34,725
34,320
28,724 28,743 28,825
28,815 28,791
303,457 303,670 303,866 304,068 304,289
8,326.4
1,261.2
2,402.0
4,693.8
118.083
8.332.2
1.257.2
2,406.0
4,698.5
118.407
8.359.6
1.248.6
2.407.6
4.728.7
119.153
8,355.3
1.238.7
2.398.8
4.739.9
119.483
8.370.0
1.232.0
2.400.1
4.757.2
119.797
8.365.0
1.234.1
2.397.0
4.754.0
119.963
8,374.1
1.218.5
2.409.6
4,761.0
120.330
8.372.4
1,215.8
2,405.3
4.765.5
120.611
Percent change from preceding period:
Personal income, current d o lla rs ..........................................
6.6
6.2
0.8
-0.3
0.4
0.4
0.5
0.4
0.4
0.4
0.4
0.5
0.2
0.5
0.4
0.2
Disposable personal income:.....................................................
Current dollars....................................................................
Chained (2000) dollars......................................................
5.9
3.1
5.7
3.1
0.8
0.4
-0.4
-0.6
0.4
-0.1
0.4
0.3
0.6
0.5
0.5
0.5
0.4
0.1
0.4
0.1
0.3
-0.3
0.5
0.2
0.4
0.1
0.5
0.4
0.3
0.0
0.2
0.0
Personal consumption expenditures:.......................................
Current dollars....................................................................
Chained (2000) d ollars......................................................
5.9
3.1
5.5
2.9
0.2
-0.2
0.6
0.3
0.5
0.1
0.2
0.1
0.4
0.3
0.4
0.4
0.5
0.2
0.3
0.1
1.0
0.3
0.2
-0.1
0.4
0.2
0.1
-0.1
0.4
0.1
0.2
0.0
p Preliminary.
r Revised.
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures,
3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized
population. The monthly estimate is the average of estimates
for the first of the month and the first of the following month; the annual estimate is the average of the monthly estimates.
Source: U.S. Bureau of Economic Analysis.
D-47
June 2008
C. H istorical M easures
T h i s t a b le is d e r iv e d f r o m
M a jo r N IP A
t h e “ S e le c te d N I P A
T a b le s ” t h a t a r e p u b l i s h e d i n
S e r ie s ” t a b le s t h a t w e r e p u b l i s h e d
in
t h i s is s u e a n d f r o m
t h e A u g u s t 2 0 0 7 is s u e . ( T h e
c h a n g e s in
th e
“ G D P
a n d O th e r
p r ic e s a re c a lc u la t e d f r o m
in d e x e s e x p r e s s e d t o t h r e e d e c im a l p la c e s . )
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Q uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Gross
domestic
product
Chain-type price indexes
[2000=100]
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959
......................
2,441.3
2,442.7
2,457.4
7.1
6.2
20.754
20.365
20.751
20.727
1.2
1.2
1.2
1.2
1960
1961
1962
1963
1964
......................
......................
......................
......................
......................
2,501.8
2,560.0
2,715.2
2,834.0
2,998.6
2,506.8
2,566.8
2,708.5
2,830.3
2,999.9
2,519.4
2,579.3
2,736.9
2,857.2
3,023.6
2.5
2.3
6.1
4.4
5.8
2.6
2.4
5.5
4.5
6.0
21.044
21.281
21.572
21.801
22.134
20.646
20.865
21.139
21.385
21.725
21.041
21.278
21.569
21.798
22.131
21.018
21.255
21.547
21.777
22.111
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.3
1.2
1.6
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.4
1.1
1.5
1965
1966
1967
1968
1969
......................
......................
......................
......................
......................
3,191.1
3,399.1
3,484.6
3,652.7
3,765.4
3,173.8
3,364.8
3,467.6
3,640.3
3,753.7
3,217.3
3,423.7
3,510.1
3,680.0
3,792.0
6.4
6.5
2.5
4.8
3.1
5.8
6.0
3.1
5.0
3.1
22.538
23.180
23.897
24.916
26.153
22.102
22.724
23.389
24.380
25.580
22.535
23.176
23.893
24.913
26.149
22.516
23.158
23.874
24.893
26.127
1.8
2.8
3.1
4.3
5.0
1.7
2.8
2.9
4.2
4.9
1.8
2.8
3.1
4.3
5.0
1.8
2.9
3.1
4.3
5.0
1970
1971
1972
1973
1974
......................
......................
......................
......................
......................
3,771.9
3,898.6
4,105.0
4,341.5
4,319.6
3,787.7
3,893.4
4,098.6
4,315.9
4,305.5
3,798.2
3,927.8
4,136.2
4,383.6
4,367.5
0.2
3.4
5.3
5.8
-0.5
0.9
2.8
5.3
5.3
-0.2
27.538
28.916
30.171
31.854
34.721
26.964
28.351
29.619
31.343
34.546
27.534
28.911
30.166
31.849
34.725
27.512
28.889
30.145
31.830
34.699
5.3
5.0
4.3
5.6
9.0
5.4
5.1
4.5
5.8
10.2
5.3
5.0
4.3
5.6
9.0
5.3
5.0
4.3
5.6
9.0
1975
1976
1977
1978
1979
......................
......................
......................
......................
......................
4,311.2
4,540.9
4,750.5
5,015.0
5,173.4
4,352.5
4,522.3
4,721.6
4,981.6
5,161.2
4,348.4
4,585.3
4,800.3
5,064.4
5,240.1
-0.2
5.3
4.6
5.6
3.2
1.1
3.9
4.4
5.5
3.6
38.007
40.202
42.758
45.762
49.553
37.761
39.938
42.634
45.663
49.669
38.002
40.196
42.752
45.757
49.548
37.976
40.175
42.731
45.737
49.527
9.5
5.8
6.4
7.0
8.3
9.3
5.8
6.8
7.1
8.8
9.4
5.8
6.4
7.0
8.3
9.4
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
......................
......................
......................
......................
......................
5,161.7
5,291.7
5,189.3
5,423.8
5,813.6
5,196.7
5,265.1
5,233.4
5,454.0
5,739.2
5,227.6
5,349.7
5,249.7
5,482.5
5,869.3
-0.2
2.5
-1.9
4.5
7.2
0.7
1.3
-0.6
4.2
5.2
54.062
59.128
62.738
65.214
67.664
54.876
59.896
63.296
65.515
67.822
54.043
59.119
62.726
65.207
67.655
54.015
59.095
62.699
65.184
67.631
9.1
9.4
6.1
3.9
3.8
10.5
9.1
5.7
3.5
3.5
9.1
9.4
6.1
4.0
3.8
9.1
9.4
6.1
4.0
3.8
1985
1986
1987
1988
1989
......................
......................
......................
......................
......................
6,053.7
6,263.6
6,475.1
6,742.7
6,981.4
6,042.1
6,271.8
6,457.2
6,734.5
6,962.2
6,093.4
6,290.6
6,500.9
6,775.2
7,015.4
4.1
3.5
3.4
4.1
3.5
5.3
3.8
3.0
4.3
3.4
69.724
71.269
73.204
75.706
78.569
69.760
71.338
73.527
76.043
78.934
69.713
71.250
73.196
75.694
78.556
69.695
71.227
73.181
75.679
78.549
3.0
2.2
2.7
3.4
3.8
2.9
2.3
3.1
3.4
3.8
3.0
2.2
2.7
3.4
3.8
3.1
2.2
2.7
3.4
3.8
1990
1991
1992
1993
1994
......................
......................
......................
......................
......................
7,112.5
7,100.5
7,336.6
7,532.7
7,835.5
7,108.5
7,115.0
7,331.1
7,522.3
7,777.8
7,155.2
7,136.8
7,371.8
7,568.6
7,864.2
1.9
-0.2
3.3
2.7
4.0
2.1
0.1
3.0
2.6
3.4
81.614
84.457
86.402
88.390
90.265
82.144
84.836
86.828
88.730
90.583
81.590
84.444
86.385
88.381
90.259
81.589
84.440
86.375
88.382
90.262
3.9
3.5
2.3
2.3
2.1
4.1
3.3
2.3
2.2
2.1
3.9
3.5
2.3
2.3
2.1
3.9
3.5
2.3
2.3
2.1
1995
1996
1997
1998
1999
......................
......................
......................
......................
......................
8,031.7
8,328.9
8,703.5
9,066.9
9,470.3
8,010.2
8,306.5
8,636.6
8,997.6
9,404.0
8,069.8
8,365.3
8,737.5
9,088.7
9,504.7
2.5
3.7
4.5
4.2
4.5
3.0
3.7
4.0
4.2
4.5
92.115
93.859
95.415
96.475
97.868
92.483
94.145
95.440
96.060
97.556
92.106
93.852
95.414
96.472
97.868
92.114
93.863
95.420
96.475
97.869
2.0
1.9
1.7
1.1
1.4
2.1
1.8
1.4
0.6
1.6
2.0
1.9
1.7
1.1
1.4
2.1
1.9
1.7
1.1
1.4
2000
2001
2002
2003
2004
......................
......................
......................
......................
......................
9,817.0
9,890.7
10,048.8
10,301.0
10,675.8
9,760.5
9,920.9
10,036.5
10,285.1
10,619.8
9,855.9
9,933.6
10,079.0
10,355.3
10,746.0
3.7
0.8
1.6
2.5
3.6
3.8
1.6
1.2
2.5
3.3
100.000
102.402
104.193
106.409
109.462
100.000
101.994
103.583
105.966
109.235
100.000
102.399
104.187
106.404
109.462
100.000
102.396
104.179
106.396
109.455
2.2
2.4
1.7
2.1
2.9
2.5
2.0
1.6
2.3
3.1
2.2
2.4
1.7
2.1
2.9
2.2
2.4
1.7
2.1
2.9
2005
2006
2007
......................
......................
......................
11,003.4
11,319.4
11,566.8
10,966.9
11,275.9
11,561.5
11,064.7
11,370.1
11,647.6
3.1
2.9
2.2
3.3
2.8
2.5
113.005
116.568
119.668
113.225
116.920
120.068
113.000
116.567
119.664
112.994
116.558
119.656
3.2
3.2
2.7
3.7
3.3
2.7
3.2
3.2
2.7
3.2
3.2
2.7
D-48
June 2008
N a t io n a l D a t a
Table C.1. GDP and Other Major NIPA Aggregates— Continues
[Q uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Gross
domestic
product
Chain-type price indexes
[2000=100]
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959:
I .....................
II....................
I ll...................
IV...................
2,392.9
2,455.8
2,453.9
2,462.6
2,396.9
2.440.3
2,471.1
2.462.3
2,408.1
2,471.1
2,470.3
2,479.8
7.9
10.9
-0.3
1.4
8.1
7.4
5.1
-1.4
20.680
20.711
20.770
20.853
20.296
20.326
20.379
20.460
20.704
20.704
20.753
20.840
20.680
20.681
20.730
20.817
1.8
0.6
1.1
1.6
2.1
0.6
1.0
1.6
0.9
0.0
1.0
1.7
0.9
0.0
1.0
1.7
1960:
I .....................
II....................
I ll..................
IV..................
2,517.4
2,504.8
2,508.7
2,476.2
2,488.1
2,511.5
2,507.9
2,519.8
2,534.1
2,521.8
2,526.5
2,494.9
9.2
-2.0
0.6
-5.1
4.3
3.8
-0.6
1.9
20.903
20.995
21.093
21.186
20.505
20.598
20.694
20.787
20.931
21.004
21.084
21.146
20.909
20.982
21.061
21.122
1.0
1.8
1.9
1.8
0.9
1.8
1.9
1.8
1.8
1.4
1.5
1.2
1.8
1.4
1.5
1.2
1961:
I .....................
II....................
I ll...................
IV...................
2,491.2
2,538.0
2,579.1
2,631.8
2.522.0
2.549.1
2,568.9
2,627.3
2,510.8
2,556.7
2,598.3
2,651.4
2.4
7.7
6.6
8.4
0.4
4.4
3.1
9.4
21.210
21.249
21.305
21.360
20.807
20.831
20.887
20.933
21.192
21.237
21.303
21.375
21.169
21.214
21.280
21.352
0.5
0.7
1.1
1.0
0.4
0.5
1.1
0.9
0.9
0.9
1.2
1.4
0.9
0.9
1.3
1.4
1962:
I .....................
II....................
I ll...................
IV...................
2,679.1
2,708.4
2,733.3
2,740.0
2.659.5
2.704.5
2,725.6
2,744.5
2.698.6
2.729.7
2,754.8
2,764.5
7.4
4.4
3.7
1.0
5.0
6.9
3.2
2.8
21.482
21.538
21.596
21.671
21.041
21.109
21.163
21.241
21.501
21.533
21.585
21.653
21.479
21.511
21.564
21.632
2.3
1.0
1.1
1.4
2.1
1.3
1.0
1.5
2.4
0.6
1.0
1.3
2.4
0.6
1.0
1.3
1963:
I .....................
II....................
I ll...................
IV...................
2,775.9
2,810.6
2,863.5
2,885.8
2,762.8
2,809.7
2,859.4
2,889.5
2,799.4
2,833.3
2,886.6
2,909.6
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.3
21.732
21.754
21.794
21.923
21.308
21.335
21.382
21.514
21.702
21.745
21.788
21.951
21.681
21.724
21.768
21.930
1.1
0.4
0.7
2.4
1.3
0.5
0.9
2.5
0.9
0.8
0.8
3.0
0.9
0.8
0.8
3.0
1964:
I .....................
II....................
I ll...................
IV...................
2,950.5
2,984.8
3.025.5
3.033.6
2,952.7
2.988.1
3,025.4
3.033.2
2,976.3
3,009.6
3,051.1
3,057.5
9.3
4.7
5.6
1.1
9.0
4.9
5.1
1.0
22.001
22.073
22.180
22.282
21.596
21.674
21.769
21.860
22.016
22.073
22.160
22.270
21.995
22.053
22.140
22.250
1.4
1.3
2.0
1.9
1.5
1.5
1.8
1.7
1.2
1.0
1.6
2.0
1.2
1.1
1.6
2.0
1965:
I .....................
II....................
I ll...................
IV...................
3,108.2
3,150.2
3,214.1
3,291.8
3,081.0
3,136.6
3,195.5
3,282.4
3,135.2
3,178.0
3,240.0
3,315.7
10.2
5.5
8.4
10.0
6.5
7.4
7.7
11.3
22.380
22.479
22.578
22.717
21.940
22.037
22.140
22.292
22.383
22.480
22.563
22.707
22.363
22.460
22.544
22.688
1.8
1.8
1.8
2.5
1.5
1.8
1.9
2.8
2.0
1.7
1.5
2.6
2.0
1.7
1.5
2.6
1966:
I .....................
II....................
I ll...................
IV..................
3,372.3
3,384.0
3,406.3
3,433.7
3,337.0
3,352.4
3,380.2
3,389.6
3,396.9
3,408.7
3,430.4
3,458.9
10.1
1.4
2.7
3.3
6.8
1.9
3.4
1.1
22.857
23.071
23.293
23.498
22.416
22.629
22.831
23.018
22.855
23.048
23.291
23.505
22.837
23.029
23.272
23.486
2.5
3.8
3.9
3.6
2.2
3.9
3.6
3.3
2.6
3.4
4.3
3.7
2.7
3.4
4.3
3.7
1967:
I .....................
II....................
I ll...................
IV..................
3,464.1
3,464.3
3,491.8
3,518.2
3,424.2
3,460.2
3,477.8
3,508.2
3.489.0
3.488.5
3.518.5
3.544.1
3.6
0.0
3.2
3.1
4.1
4.3
2.0
3.5
23.611
23.759
23.977
24.242
23.109
23.254
23.469
23.723
23.612
23.741
23.975
24.241
23.593
23.722
23.955
24.221
1.9
2.5
3.7
4.5
1.6
2.5
3.7
4.4
1.8
2.2
4.0
4.5
1.8
2.2
4.0
4.5
1968:
I .....................
II....................
I ll...................
IV...................
3,590.7
3,651.6
3,676.5
3,692.0
3.581.7
3.617.7
3,669.4
3,692.2
3,617.2
3,678.7
3,704.4
3,719.6
8.5
7.0
2.7
1.7
8.6
4.1
5.8
2.5
24.503
24.777
25.017
25.367
23.979
24.230
24.483
24.826
24.506
24.763
25.008
25.362
24.487
24.743
24.988
25.342
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.8
4.5
4.2
4.0
5.8
1969:
I .....................
II....................
I ll...................
IV...................
3.750.2
3,760.9
3.784.2
3,766.3
3,730.5
3,748.6
3,767.6
3,768.1
3,778.0
3,787.7
3.810.0
3.792.1
6.5
1.1
2.5
-1.9
4.2
2.0
2.0
0.1
25.622
25.966
26.345
26.678
25.062
25.402
25.764
26.093
25.626
25.958
26.332
26.675
25.605
25.937
26.310
26.652
4.1
5.5
6.0
5.2
3.9
5.5
5.8
5.2
4.2
5.3
5.9
5.3
4.2
5.3
5.9
5.3
1970:
I .....................
II ....................
I ll...................
IV...................
3,760.0
3,767.1
3,800.5
3,759.8
3,778.0
3,771.0
3,804.6
3,797.2
3,786.3
3,794.3
3,827.4
3,784.5
-0.7
0.8
3.6
-4.2
1.1
-0.7
3.6
-0.8
27.051
27.437
27.655
28.009
26.474
26.841
27.093
27.449
27.056
27.428
27.647
28.004
27.034
27.406
27.624
27.982
5.7
5.8
3.2
5.2
6.0
5.7
3.8
5.4
5.8
5.6
3.2
5.3
5.9
5.6
3.2
5.3
1971:
I .....................
II....................
I ll..................
IV...................
3,864.1
3,885.9
3,916.7
3,927.9
3,844.7
3,871.3
3,905.2
3,952.5
3.893.1
3.916.4
3.944.4
3.957.1
11.6
2.3
3.2
1.1
5.1
2.8
3.5
4.9
28.429
28.809
29.097
29.329
27.854
28.230
28.539
28.779
28.425
28.798
29.089
29.322
28.403
28.777
29.069
29.300
6.1
5.5
4.1
3.2
6.0
5.5
4.5
3.4
6.2
5.4
4.1
3.2
6.2
5.4
4.1
3.2
1972:
I .....................
II....................
I ll...................
IV...................
3,997.7
4,092.1
4,131.1
4,198.7
4,006.9
4,073.0
4,109.6
4,204.8
4,028.1
4,122.1
4,163.5
4,231.0
7.3
9.8
3.9
6.7
5.6
6.8
3.6
9.6
29.814
29.989
30.264
30.620
29.234
29.437
29.728
30.078
29.781
29.959
30.250
30.652
29.759
29.937
30.229
30.631
6.8
2.4
3.7
4.8
6.5
2.8
4.0
4.8
6.4
2.4
3.9
5.4
6.4
2.4
4.0
5.4
1973:
I .....................
II....................
I ll...................
IV...................
4,305.3
4,355.1
4,331.9
4,373.3
4.296.4
4.317.4
4,322.6
4,327.3
4.342.5
4.394.6
4,377.8
4,419.5
10.6
4.7
-2.1
3.9
9.0
2.0
0.5
0.4
31.025
31.542
32.147
32.703
30.478
31.052
31.625
32.218
31.020
31.500
32.114
32.750
31.000
31.481
32.095
32.731
5.4
6.8
7.9
7.1
5.4
7.7
7.6
7.7
4.9
6.3
8.0
8.2
4.9
6.4
8.0
8.2
1974:
I .....................
II....................
I ll...................
IV...................
4,335.4
4,347.9
4.305.8
4.288.9
4,322.7
4,328.7
4,316.3
4,254.5
4.389.4
4,399.1
4.352.4
4,329.3
-3.4
1.2
-3.8
-1.6
-0.4
0.6
-1.1
-5.6
33.371
34.110
35.164
36.240
33.068
34.007
35.045
36.062
33.376
34.162
35.166
36.218
33.354
34.137
35.141
36.188
8.4
9.2
12.9
12.8
11.0
11.9
12.8
12.1
7.9
9.8
12.3
12.5
7.8
9.7
12.3
12.5
1975:
I .....................
II ....................
I ll...................
IV...................
4.237.6
4.268.6
4,340.9
4,397.8
4,287.8
4.331.0
4.370.1
4.421.1
4,271.5
4,302.8
4.377.7
4.441.7
-4.7
3.0
6.9
5.4
3.2
4.1
3.7
4.8
37.077
37.622
38.324
39.005
36.849
37.412
38.060
38.724
37.050
37.614
38.313
38.987
37.022
37.586
38.288
38.961
9.6
6.0
7.7
7.3
9.0
6.3
7.1
7.2
9.5
6.2
7.6
7.2
9.5
6.2
7.7
7.2
Su r v e y
June 2008
of
D-49
C u r r e n t B u s in e s s
Table C.1. GDP and Other Major NIPA Aggregates— Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1976:
4,496.8
4,530.3
4,552.0
4,584.6
4,482.1
4,496.3
4,523.7
4,587.1
4,539.3
4,574.6
4,596.7
4,630.4
9.3
3.0
1.9
2.9
5.6
1.3
2.5
5.7
39.443
39.866
40.405
41.096
39.163
39.595
40.168
40.828
39.418
39.840
40.385
41.122
39.396
39.818
40.365
41.101
4.6
4.4
5.5
7.0
4.6
4.5
5.9
6.7
4.5
4.4
5.6
7.5
4.5
4.4
5.6
7.5
1977:
4,640.0
4,731.1
4,815.8
4,815.3
4,631.5
4,705.5
4,755.2
4,794.1
4,692.2
4,782.3
4,866.4
4,860.4
4.9
8.1
7.4
0.0
3.9
6.5
4.3
3.3
41.781
42.452
43.036
43.762
41.591
42.306
42.950
43.688
41.796
42.401
42.917
43.852
41.773
42.381
42.899
43.831
6.8
6.6
5.6
6.9
7.7
7.1
6.2
7.1
6.7
5.9
5.0
9.0
6.7
6.0
5.0
9.0
1978:
4,830.8
5,021.2
5,070.7
5,137.4
4,799.5
4,989,9
5,036.0
5,100.6
4,882.9
5,064.7
5,118.2
5,191.9
1.3
16.7
4.0
5.4
0.5
16.8
3.7
5.2
44.493
45.350
46.133
47.074
44.410
45.266
46.048
46.928
44.505
45.321
46.072
47.047
44.483
45.301
46.052
47.027
6.9
7.9
7.1
8.4
6.8
7.9
7.1
7.9
6.1
7.5
6.8
8.7
6.1
7.6
6.8
8.7
1979:
5,147.4
5,152.3
5,189.4
5,204.7
5,117.8
5,117.9
5,192.3
5,216.9
5,203.1
5,214.9
5,263.8
5,278.6
0.8
0.4
2.9
1.2
1.4
0.0
5.9
1.9
47.929
49.092
50.102
51.088
47.828
49.044
50.289
51.515
47.876
49.058
50.115
51.117
47.857
49.034
50.093
51.093
7.5
10.1
8.5
8.1
7.9
10.6
10.5
10.1
7.2
10.2
8.9
8.2
7.2
10.2
8.9
8.2
1980:
5,221.3
5,115.9
5,107.4
5,202.1
5,227.3
5,126.2
5,193.5
5,239.7
5,296.5
5,185.5
5,173.0
5,255.6
1.3
-7.8
-0.7
7.6
0.8
-7.5
5.4
3.6
52.209
53.362
54.572
56.105
52.930
54.220
55.446
56.907
52.195
53.349
54.560
56.071
52.172
53.324
54.534
56.043
9.1
9.1
9.4
11.7
11.4
10.1
9.4
11.0
8.7
9.1
9.4
11.5
8.7
9.1
9.4
11.5
1981:
5,307.5
5,266.1
5,329.8
5,263.4
5,261.7
5,272.8
5,278.5
5,247.4
5,364.5
5,319.8
5,386.8
5,327.3
8.4
-3.1
4.9
-4.9
1.7
0.8
0.4
-2.3
57.566
58.582
59.661
60.704
58.397
59.434
60.355
61.400
57.517
58.598
59.641
60.729
57.492
58.571
59.616
60.706
10.8
7.2
7.6
7.2
10.9
7.3
6.3
7.1
10.7
7.7
7.3
7.5
10.8
7.7
7.3
7.5
1982:
5,177.1
5,204.9
5,185.2
5,189.8
5,232.9
5,230.5
5,196.6
5,273.3
5,237.7
5,272.8
5,242.9
5,245.3
-6.4
2.2
-1.5
0.4
-1.1
-0.2
-2.6
6.0
61.563
62.330
63.193
63.866
62.213
62.883
63.717
64.372
61.555
62.302
63.182
63.863
61.530
62.276
63.155
63.837
5.8
5.1
5.7
4.3
5.4
4.4
5.4
4.2
5.6
4.9
5.8
4.4
5.5
4.9
5.8
4.4
1983:
5,253.8
5,372.3
5,478.4
5,590.5
5,329.2
5,404.6
5,505.1
5,577.0
5,308.8
5,430.9
5,538.0
5,652.4
5.0
9.3
8.1
8.4
4.3
5.8
7.7
5.3
64.413
64.881
65.542
66.020
64.768
65.213
65.849
66.231
64.388
64.853
65.517
66.012
64.363
64.831
65.495
65.991
3.5
2.9
4.1
2.9
2.5
2.8
4.0
2.3
3.3
2.9
4.2
3.1
3.3
2.9
4.2
3.1
1984:
5,699.8
5,797.9
5,854.3
5,902.4
5,614.4
5,717.5
5,770.2
5,854.6
5,757.1
5,855.5
5,911.3
5,953.2
8.1
7.1
3.9
3.3
2.7
7.5
3.7
6.0
66.838
67.439
67.989
68.392
67.052
67.647
68.114
68.476
66.837
67.414
67.953
68.385
66.815
67.392
67.930
68.359
5.0
3.6
3.3
2.4
5.1
3.6
2.8
2.1
5.1
3.5
3.2
2.6
5.1
3.5
3.2
2.6
1985:
5,956.9
6,007.8
6,101.7
6,148.6
5,953.0
5,998.5
6,095.8
6,121.2
5,997.4
6,050.8
6,137.4
6,188.2
3.8
3.5
6.4
3.1
6.9
3.1
6.6
1.7
69.180
69.542
69.876
70.299
69.137
69.537
69.907
70.459
69.155
69.550
69.838
70.289
69.127
69.529
69.827
70.276
4.7
2.1
1.9
2.4
3.9
2.3
2.1
3.2
4.6
2.3
1.7
2.6
4.6
2.3
1.7
2.6
1986:
6,207.4
6,232.0
6,291.7
6,323.4
6,184.1
6,230.5
6,317.8
6,355.0
6,242.5
6,257.3
6,320.1
6,342.8
3.9
1.6
3.9
2.0
4.2
3.0
5.7
2.4
70.660
71.001
71.455
71.960
70.851
70.985
71.493
72.025
70.652
71.015
71.426
71.893
70.635
70.993
71.401
71.866
2.1
1.9
2.6
2.9
2.2
0.8
2.9
3.0
2.1
2.1
2.3
2.6
2.1
2.0
2.3
2.6
1987:
6,365.0
6,435.0
6,493.4
6,606.8
6,344.4
6,431.4
6,510.8
6,542.5
6,386.8
6,461.8
6,519.5
6,635.4
2.7
4.5
3.7
7.2
-0.7
5.6
5.0
2.0
72.514
72.904
73.450
73.948
72.728
73.229
73.819
74.332
72.487
72.882
73.425
73.958
72.465
72.870
73.412
73.944
3.1
2.2
3.0
2.7
4.0
2.8
3.3
2.8
3.3
2.2
3.0
2.9
3.4
2.3
3.0
2.9
1988:
6,639.1
6,723.5
6,759.4
6,848.6
6,637.2
6,716.4
6,749.5
6,835.1
6,675.0
6,756.2
6,788.9
6,880.9
2.0
5.2
2.1
5.4
5.9
4.9
2.0
5.2
74.564
75.296
76.178
76.786
74.975
75.706
76.406
77.086
74.587
75.300
76.141
76.712
74.571
75.285
76.124
76.700
3.4
4.0
4.8
3.2
3.5
4.0
3.8
3.6
3.4
3.9
4.5
3.0
3.4
3.9
4.5
3.1
1989:
6,918.1
6,963.5
7,013.1
7,030.9
6,873.3
6,933.6
7,015.3
7,026.8
6,950.1
6,993.9
7,046.2
7,071.4
4.1
2.6
2.9
1.0
2.3
3.6
4.8
0.7
77.588
78.342
78.913
79.433
77.937
78.764
79.227
79.807
77.580
78.324
78.879
79.425
77.566
78.316
78.875
79.422
4.2
3.9
2.9
2.7
4.5
4.3
2.4
3.0
4.6
3.9
2.9
2.8
4.6
3.9
2.9
2.8
7,112.1
7,130.3
7,130.8
7,076.9
7,110.6
7,103.8
7,118.3
7,101.3
7,150.0
7,169.9
7,163.9
7,137.1
4.7
1.0
0.0
-3.0
4.9
-0.4
0.8
-1.0
80.389
81.326
82.053
82.689
80.878
81.629
82.531
83.536
80.375
81.311
82.031
82.646
80.376
81.301
82.028
82.652
4.9
4.7
3.6
3.1
5.5
3.8
4.5
5.0
4.9
4.7
3.6
3.0
4.9
4.7
3.6
3.1
7,040.8
7,086.5
7,120.7
7,154.1
7,071.5
7,120.2
7,134.6
7,133.8
7,087.0
7,119.1
7,149.3
7,191.8
-2.0
2.6
1.9
1.9
-1.7
2.8
0.8
0.0
83.662
84.194
84.772
85.200
84.197
84.533
85.058
85.556
83.626
84.165
84.762
85.206
83.623
84.164
84.758
85.202
4.8
2.6
2.8
2.0
3.2
1.6
2.5
2.4
4.8
2.6
2.9
2.1
4.8
2.6
2.9
2.1
1991:
D-50
June 2008
N a t io n a l D a t a
Table C.1. GDP and Other Major NIPA Aggregates— Table Ends
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Gross
domestic
product
Finalsalesof
domestic
product
Gross
national
product
Chain-type price indexes
[2000=100]
Percent change from
preceding period
Gross
domestic
product
Finalsalesof
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1992:
7,228.2
7,297.9
7,369.5
7,450.7
7,239.3
7,284.3
7,360.5
7,440.3
7,265.5
7,334.5
7,402.6
7,485.0
4.2
3.9
4.0
4.5
6.0
2.5
4.2
4.4
85.766
86.212
86.587
87.042
86.093
86.588
87.098
87.531
85.721
86.190
86.580
87.029
85.710
86.181
86.567
87.019
2.7
2.1
1.8
2.1
2.5
2.3
2.4
2.0
2.4
2.2
1.8
2.1
2.4
2.2
1.8
2.1
1993:
7,459.7
7,497.5
7,536.0
7,637.4
7,431.2
7,483.7
7,540.6
7,633.7
7,502.4
7,532.8
7,577.7
7,661.5
0.5
2.0
2,1
5.5
-0.5
2.9
3.1
5.0
87.729
88.204
88.599
89.030
88.076
88.595
88.916
89.331
87.707
88.190
88.570
89.038
87.705
88.189
88.574
89.048
3.2
2.2
1.8
2.0
2.5
2.4
1.5
1.9
3.2
2.2
1.7
2.1
3.2
2.2
1.8
2.2
1994:
7,715.1
7,815.7
7,859.5
7,951.6
7,677.5
7,737.2
7,814.3
7,882.3
7,747.2
7,843.7
7,886.8
7,979.2
4.1
5.3
2.3
4.8
2.3
3.1
4.0
3.5
89.598
89.980
90.525
90.958
89.800
90.271
90.921
91.340
89.578
89.954
90.530
90.952
89.583
89.963
90.527
90.953
2.6
1.7
2.4
1.9
2.1
2.1
2.9
1.9
2.4
1.7
2.6
1.9
2.4
1.7
2.5
1.9
1995:
7,973.7
7,988.0
8,053.1
8,112.0
7,918.7
7,962.3
8,055.0
8,104.8
8,014.3
8,032.0
8,081.0
8,152.0
1.1
0.7
3.3
3.0
1.9
2.2
4.7
2.5
91.554
91.891
92.281
92.734
91.877
92.329
92.662
93.065
91.530
91.859
92.289
92.733
91.534
91.868
92.299
92.743
2.6
1.5
1.7
2.0
2.4
2.0
1.5
1.8
2.6
1.4
1.9
1.9
2.6
1.5
1.9
1.9
1996:
8,169.2
8,303.1
8,372.7
8,470.6
8,175.4
8,285.8
8,319.9
8,444.7
8,213.3
8,337.6
8,402.7
8,507.6
2.9
6.7
3.4
4.8
3.5
5.5
1.7
6.1
93.302
93.615
94.064
94.455
93.602
93.897
94.286
94.796
93.328
93.659
93.951
94.450
93.338
93.671
93.962
94.458
2.5
1.3
1.9
1.7
2.3
1.3
1.7
2.2
2.6
1.4
1.3
2.1
2.6
1.4
1.2
2.1
1997:
8,536.1
8,665.8
8,773.7
8,838.4
8,507.3
8,574.6
8,705.7
8,758.6
8,566.0
8,707.0
8,808.7
8,868.1
3.1
6.2
5.1
3.0
3.0
3.2
6.3
2.5
94.963
95.291
95.541
95.864
95.189
95.296
95.494
95.781
95.054
95.206
95.534
95.846
95.058
95.212
95.542
95.851
2.2
1.4
1.1
1.4
1.7
0.5
0.8
1.2
2.6
0.6
1.4
1.3
2.6
0.6
1.4
1.3
1998:
8,936.2
8,995.3
9,098.9
9,237.1
8,821.1
8,948.7
9,038.4
9,182.2
8,965.5
9,022.2
9,112.2
9,255.2
4.5
2.7
4.7
6.2
2.9
5.9
4.1
6.5
96.096
96.284
96.620
96.901
95.773
95.881
96.141
96.444
96.089
96.249
96.600
96.934
96.091
96.254
96.604
96.932
1.0
0.8
1.4
1.2
0.0
0.5
1.1
1.3
1.0
0.7
1.5
1.4
1.0
0.7
1.5
1.4
1999:
9,315.5
9,392.6
9,502.2
9,671.1
9,239.7
9,353.7
9,453.5
9,569.3
9,346.7
9,429.1
9,532.7
9,710.4
3.4
3.4
4.8
7.3
2.5
5.0
4.3
5.0
97.274
97.701
98.022
98.475
96.761
97.317
97.790
98.356
97.328
97.674
98.013
98.432
97.330
97.675
98.014
98.433
1.5
1.8
1.3
1.9
1.3
2.3
2.0
2.3
1.6
1.4
1.4
1.7
1.7
1.4
1.4
1.7
2000:
9,695.6
9,847.9
9,836.6
9,887.7
9,668.8
9,748.4
9,780.4
9,844.3
9,729.0
9,885.3
9,867.8
9,941.6
1.0
6.4
-0.5
2.1
4.2
3.3
1.3
2.6
99.292
99.780
100.241
100.687
99.275
99.714
100.283
100.727
99.317
99.745
100.259
100.666
99.311
99.741
100.262
100.672
3.4
2.0
1.9
1.8
3.8
1.8
2.3
1.8
3.6
1.7
2.1
1.6
3.6
1.7
2.1
1.6
2001:
9,875.6
9,905.9
9,871.1
9,910.0
9,883.2
9,908.7
9,899.9
9,992.3
9,913.6
9,949.8
9,887.7
9,983.1
-0.5
1.2
-1.4
1.6
1.6
1.0
-0.4
3.8
101.507
102.290
102.690
103.122
101.403
101.974
102.223
102.378
101.478
102.252
102.675
103.191
101.480
102.248
102.671
103.183
3.3
3.1
1.6
1.7
2.7
2.3
1.0
0.6
3.3
3.1
1.7
2.0
3.2
3.1
1.7
2.0
9,977.3
10,031.6
10,090.7
10,095.8
9,986.8
10,028.4
10,063.5
10,067.3
10,004.1
10,048.6
10,119.7
10,143.8
2.7
2.2
2.4
0.2
-0.2
1.7
1.4
0.1
103.553
103.944
104.347
104.926
102.755
103.385
103.816
104.374
103.568
103.938
104.328
104.907
103.552
103.928
104.321
104.903
1.7
1.5
1.6
2.2
1.5
2.5
1.7
2.2
1.5
1.4
1.5
2.2
1.4
1.5
1.5
2.3
2003:
10,126.0
10,212.7
10,398.7
10,467.0
10,100.9
10,213.7
10,385.9
10,440.0
10,163.8
10,266.9
10,449.9
10,540.5
1.2
3.5
7.5
2.7
1.3
4.5
6.9
2.1
105.742
106.076
106.616
107.204
105.435
105.587
106.170
106.671
105.724
106.062
106.611
107.190
105.718
106.053
106.602
107.180
3.1
1.3
2.1
2.2
4.1
0.6
2.2
1.9
3.2
1.3
2.1
2.2
3.1
1.3
2.1
2.2
2004:
10,543.6
10,634.2
10,728.7
10,796.4
10,507.1
10,568.5
10,666.6
10,737.0
10,633.0
10,701.4
10,804.9
10,844.4
3.0
3.5
3.6
2.5
2.6
2.4
3.8
2.7
108.180
109.185
109.807
110.677
107.787
108.893
109.637
110.622
108.175
109.178
109.793
110.671
108.170
109.173
109.786
110.666
3.7
3.8
2.3
3.2
4.3
4.2
2.8
3.6
3.7
3.8
2.3
3.2
3.7
3.8
2.3
3.2
2005:
10,878.4
10,954.1
11,074.3
11,107.2
10,813.0
10,940.4
11,064.8
11,049.5
10,941.9
11,014.7
11,151.2
11,151.1
3.1
2.8
4.5
1.2
2.9
4.8
4.6
-0.5
111.745
112.455
113.422
114.398
111.605
112.571
113.846
114.878
111.726
112.446
113.405
114.389
111.717
112.442
113.403
114.384
3.9
2.6
3.5
3.5
3.6
3.5
4.6
3.7
3.9
2.6
3.5
3.5
3.9
2.6
3.5
3.5
2006:
11,238.7
11,306.7
11,336.7
11,395.5
11,196.1
11,252.1
11,279.7
11,375.8
11,294.0
11,362.5
11,375.9
11,447.8
4.8
2.4
1.1
2.1
5.4
2.0
1.0
3.5
115.363
116.350
117.030
117.527
115.645
116.850
117.575
117.609
115.357
116.347
117.026
117.522
115.350
116.338
117.019
117.511
3.4
3.5
2.4
1.7
2.7
4.2
2.5
0.1
3.4
3.5
2.4
1.7
3.4
3.5
2.4
1.7
2007:
11,412.6
11,520.1
11,658.9
11,675.7
11,411.6
11,512.8
11,626.4
11,695.2
11,466.7
11,580.0
11,744.6
11,799.1
0.6
3.8
4.9
0.6
1.3
3.6
4.0
2.4
118.750
119.527
119.837
120.560
118.702
119.809
120.330
121.432
118.745
119.519
119.826
120.542
118.736
119.512
119.814
120.535
4.2
2.6
1.0
2.4
3.8
3.8
1.8
3.7
4.2
2.6
1.0
2.4
4.2
2.6
1.0
2.4
11,701.9
11,715.3
11,830.7
0.9
0.7
121.334
122.471
121.310
121.301
2.6
3.5
2.6
2.6
2008:
I.
D-51
June 2008
D. C harts
A l l s e r ie s a r e s e a s o n a lly a d ju s t e d a t a n n u a l r a t e s . T h e p e r c e n t c h a n g e s i n
r e a l g ro s s d o m e s tic p r o d u c t a re b a s e d o n
q u a rte r-
to -q u a rte r c h a n g e s .
SELECTED NIPA SERIES
Chained (2000) dollars
40,000
-35,000
-30,000
-25,000
- 2 0 ,0 0 0
-15,000
1 0 ,0 0 0
90
92
94
96
98
00
02
04
06
08
Percent
Apr Feb
Dec Nov
Nov
Mar
REAL GROSS DOM ESTIC PRODUCT (PERCENT CHANGE)
10
U.S. Bureau of Economic Analysis
J a n J Iy J ly
Nov
Jly Mar_______________________________ Mar Nov_______________________
N a t io n a l D a t a
D -5 2
June
2008
S E L E C T E D N IP A S E R IE S
Percent
Dec Nov
Nov
SHARES OF FEDERAL G OVERNM ENT RECEIPTS
. 'N
Personal current taxes
Y
t
Mar
i Br
\
j
\
Nov
Jly Mar
Mar Nov
•;
*
___f \
50
, y
+.»
v
40
X.
A
C ontributions for governm ent social insurance
- 30
20
Taxes on corporate incor
10
1
_
T a x flf> n production and im ports
-
60
50
40
- 30
-
20
10
00
Percent
Apr Feb
Dec Nov
Nov
M ar
Jan Jly Jly
Nov
02
04
06
08
M ar Nov
— 2
-----4
-6 -
U.S. Bureau of Economic Analysis
------ 6
June 2008
S urvey
D-53
C u r r e n t B u s in e s s
of
S E L E C T E D N IP A S E R IE S
Percent
Apr Feb
Dec Nov
Nov
Mar
Jan Jly Jly Nov
Jly Mar
Mar Nov
RATIO, SAVINGS TO GROSS NATIONAL INCOME
20 -
-
Gross saving
I
/
f
'"V
\
v *
15 -
h
' M
u
W
"
'V v- '
^
- 15
"
-v / — ^
10 -
-
Gross business saving
* **
•*
******
v
v
20
N
\
10
y ,
w
Personal saving
Gross government saving
‘Gross saving less personal saving and gross government saving
Percent
j i re
u
Apr
Feb
uvkj
Dec
inuv
Nov
inuv
Nov
ivi
Mar
Jan Jly Jly
Nov
Mar Nov
Jly Mar
RATIO, INVESTMENT TO
O GROSS
UHO SS NATIONAL PRODUCT
V -_ ,_
20
V
H i
W
/
v
v
'
.
V
-
_ , - N
,- H k
,
/
V
'
*\ / '
Gross private domestic investment
‘\
y
' V
Gross domestic investment plus balance on current account (NIPAs)
.
\ I /
V
v
10 -
Gross government investment
Balance on current account
10
60
I I I I I I I I I I I I I I I I I I I I ..f T... I" I I I I I I I T"" I I I I I I I I I I "I
62
64
66
68
70
Percent
Apr
60
72
74
76
78
Feb
|
80
Dec Nov
....
82
84
Nov
Mar
86
88
90
92
94
96
98
Jan Jly Jly Nov
50 -
I I I I I I
00
02
Jly Mar
04
06
08
Mar Nov
_1°
60
-
Nonresidential equipment and software
50
40 -
30 -
Residential investment
s
30
v
20 -
-
Nonresidential structures
10 -
I
60
I
62
I
I
64
I
I
66
U .S . B u r e a u o f E c o n o m ic A n a ly s is
I
I
68
I
I
70
I
I
72
I
I
74
I
I
76
I
I
78
I
I
80
I
I
82
I
I
84
I
I
86
I
I
88
I
I
90
I
I
92
I
I
94
I
I
96
I
I
98
I
I
00
I
I
02
I
I
04
I
I
06
I
08
20
D-54
June 2008
National Data
S E L E C T E D N IP A S E R IE S
2007
1960
SHARES OF NATIONAL INCOME
Supplem ents to wages
salaries, 5.0%
W age and salary
accruals, 57.5%
Supplem ents to wages
salaries, 12.2%
Wage and salary
accruals, 52.2%
Proprietors'incom e, 10.7%
Proprietors’ income,
8.5%
Rental income
of persons, 3.6%
Rental income
of persons, 0.5%
C orporate profits, 13.1%
C orporate profits, 11.3%
Net interest and misc. payments, 2.2%
O th e T o 4%
SHARES OF G ROSS DO MESTIC PRODUCT BY SECTOR
1960
2007
Business, 77.0%
Business, 79.9%
Other, 0.3%
^axes on Pr° d uc,'on and imports, 9.4%
Net interest and misc. payments,
4.9%
Taxes on production and im ports, 8.3%
Households, 6.4%
Households, 6.1%
Nonprofit institutions serving
households, 2.2%
General government,
federal 6.3%
General government,
state and local 5.3%
Nonprofit institutions
serving households,
5.1%
General governm ent,
federal, 3.4%
General government,
state and local, 8.0%
June 2008
S E L E C T E D N IP A S E R IE S
Percent
Percent
U .S . B u r e a u o f E c o n o m ic A n a ly s is
S urvey
of
C u r r e n t B u s in e s s
D-55
N ational Data
D -5 6
June 2008
S E L E C T E D N IP A S E R IE S
Percent
Apr Feb
U .S . B u r e a u o f E c o n o m ic A n a ly s is
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
M ar Nov
D-57
June 2008
Industry Data
E. Industry Table
The statistics in this table were published in tables 5A and 7A in “A nnual In d ustry Accounts: Advance Statistics on
GDP by In d u stry for 2007” in the M ay 2008 S u r v e y o f C u r r e n t B u s i n e s s .
Table E.1. Percent Changes in Chain-Type Quantity and Price Indexes for Value Added by Industry for 2004-2006
Chain-type
quantity indexes
Line
2005
2006
Chain-type
price indexes
2007
2005
2006
2007
Gross domestic product.........................................
3.1
2.9
2.2
3.2
3.2
2.7
? Private industries............................................................
3.4
3.5
2.1
3.0
2.8
2.6
3
4
b
Agriculture, forestry, fishing, and hunting...............
4.9
0.9
1.4 -13.7
-3.5
26.9
Farms..............................................................................
Forestry, fishing, and related activities.......................
5.9
1.3
0.6
1.8
-16.9
0.2
-5.7
4.7
6
7
8
9
Mining...........................................................................
-2.4
6.1
Oil and gas extraction....
Mining, except oil and gas............................................
Support activities for m ining........................................
-8 4
8.7
12.6
3.2
1.7
20.2
1U
Utilities.........................................................................
-2.2
-2.3
11
Construction................................................................
2.7
12
13
14
15
16
17
18
19
21)
Manufacturing
1
34.9
9 fi
42.9
14.2
27.7
3.2
13.5
28.8
5.3
6.2
12.1
2.8
-6.0 -12.1
9.8
10.3
1.6
2.9
1.5
1.9
07
10
-1.7
-4.8
7.6
12.8
14.4
20.4
4.9
0.6
2.2
0.9
-12.6 -13.3
0.1
0.0
5.1
.......................................................
1.0
2.9
2.3
49
0.6
-4.4
-7.3
2.0
8.6
21.0
60
6.1
-4.4
-8.9
5.7
6.4
21.5
4.9
21
22
23
24
2b
26
2/
28
29
30
31
3?
33
Durable goods....
Wood products
Nonmetallic mineral products..................................
Primary metals..........................................................
Fabricated metal products.......................................
Machinery..................................................................
Computer and electronic products.........................
Electrical equipment, appliances, and
components..........................................................
Motor vehicles, bodies and trailers, and parts.......
Other transportation equipment..............................
Furniture and related products................................
Miscellaneous manufacturing..................................
Nondurable goods.........................................................
Food and beverage and tobacco products............
Textile mills and textile product mills.......................
Apparel and leather and allied products................
Paper products..........................................................
Printing and related support activities....................
Petroleum and coal products...................................
Chemical products...................................................
Plastics and rubber products..................................
34
Wholesale trade...........................................................
1.8
1.7
0.9
3.5
3.5
3.9
35
Retail trade...................................................................
6.1
5.0
4.9
-1.4
-0.6
-0.4
36
37
38
39
40
41
42
43
44
Transportation and warehousing...............................
4.1
5.2
3.1
-0.1
2.2
1.5
Air transportation...........................................................
Rail transportation.........................................................
Water transportation......................................................
Truck transportation.......................................................
Transit and ground passenger transportation............
Pipeline transportation.................................................
Other transportation and support activities...............
Warehousing and storage............................................
6.2
-1.1
0.9
4.1
-3.2
6.3
3.9
12.1
2.9
27.8
6.5
2.1
1.2
1.0
4.3
4.6
45
46
4/
48
49
Information...................................................................
11.5
7.2
Publishing industries (includes software)...................
Motion picture and sound recording industries.........
Broadcasting and telecommunications......................
Information and data processing services................
9.0
1.5
14.0
11.2
4.5
0.5
7.5
16.1
-5.9
-3.9
3.5
10.9
12.2
6.8
-4.6
-0.5
2.8
2.4
-3.9
-1.0
0.2
2.2
-7.1 -11.9
-0.7
-3.1
2.8 -5.5
-0 3
0.9
-14.4
-6 0
-6 4
13
-3.3
-3.8
-1.1
2.4
6.5
-10.4 -11.9
3.1
3.2
3.5
2.4
-0.9
-0.8
7.9
4.8
1.4 -4.0
-1.1
3.9
-1.4
-0.2
0.8
5.7
-0.5
1.3
60.4
181
7.4
5.7
1.8
12.0
4.5
-3.5
-2.1
-0.2
2.8
-5.9
-2.4
1.1
2.1
-3.4
-5.1
2006
2007
2006
5.8
9.8
Federal Reserve banks, credit intermediation, and
related activities...................................................
Securities, commodity contracts, and investments
Insurance carriers and related activities...............
Funds, trusts, and other financial vehicles............
8.1
17.9
-4.7
16.0
8.1
23.2
5.1
0.2
Real estate and rental and leasing.......................
4.0
3.4
Real estate.................................................................
Rental and leasing services and lessors of
intangible assets..................................................
4.6
3.7
-3.7
-1.3
59
60
61
62
63
Professional and business services........................
Professional, scientific, and technical services
4.0
4.4
3.8
6.0
Legal services...........................................................
Computer systems design and related services ...
Miscellaneous professional, scientific, and
technical services................................................
-1.6
4.8
-0.2
8.4
6.3
7.5
64
65
66
67
68
Management of companies and enterprises.......
Administrative and waste management services
0.3
5.6
-2.4
2.7
Administrative and support services......................
Waste management and remediation services....
5.5
6.7
3.0
-0.7
Educational services, health care, and social
assistance................................................................
Educational services..............................................
Health care and social assistance........................
1.8
-0.3
2.1
3.5
1.1
3.9
Ambulatory health care services............................
Hospitals and nursing and residential care
facilities..................................................................
Social assistance......................................................
4.6
6.0
1.9
1.1
-1.4
4.2
1.1
4.2
4.3
0.3
4.2
1.8
Arts, entertainment, recreation, accommodation,
and food services....................................................
Arts, entertainment, and recreation.....................
1.3
0.0
3.1
3.8
3.5
3.3
3.8
3.5
Performing arts, spectator sports, museums, and
related activities...................................................
Amusements, gambling, and recreation industries
-0.4
0.2
5.6
2.3
4.8
2.1
3.9
3.1
53
54
55
bb
b/
bb
69
70
71
72
//
78
Accommodation and food services.....................
79
Accommodation........................................................
80
Food services and drinking places.........................
81
Other services, except government.........................
82 Government.....................................................................
83
Federal.........................................................................
84
General government.....................................................
85
Government enterprises..............................................
86
87
General governm ent....................................................
88
Government enterprises..............................................
-1.1
1.8
2.8
1.8
1.8
4.0
2.3
-0.6
0.7
0.2
-0.3
0.4
-0.1
0.7
-2.7
-0.2
-0.1
09
07
0.9
0.6
1.0
-2.8
1.3
4.0
0.8
4.2
11.3
11.7
1.2
-0.3
2005
4.8
6.2
75
/b
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health
care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other
2005
Chain-type
price indexes
Finance, insurance, real estate, rental, and leasing
Finance and insurance...........................................
50
51
b2
73
74
-12.8
6.8
12.8 -11.8
-3.8
1.1
2.3
3.0
2.1
2.7
-19.6
22.5
2.2
2.6
-0.2
1.8
9.0
Chain-type
quantity indexes
Line
2.1
4.6
5.4
0.9
4.9
3.5
3.3
3.5
1.9
1.0
2.2
2.1
1.2
0.4
1.5
2.2
1.9
2.2
1.4
2.3
-1.5
3.6
0.8
4.2
-3.8
1.1
-10.1
2.4
2.7
2.2
2.8
4.9
1.9
4.4
3.0
3.5
2.5
6.2
0.0
6.1
1.6
2.7
1.5
11.4
3.5
5.7
4.6
4.2
-3.1
4.3
7.4
3.1
5.5
2.7
2.7
5.0
2.4
3.6
3.9
4.9
3.0
2.8
4.5
5.8
4.4
4.6
4.9
4.7
4.9
5.7
-1.9
4.7
6.5
2007
2.6
2.1
2.9
3.2
2.8
7.1
1.6
3.1
3.6
3.1
3.4
2.9
3.6
2.9
4.3
3.5
4.7
44
46
4.5
2.8
4.6
4.1
-1.5
3.2
5.9
2.2
4.1
2.5
3.4
2.3
13.2
-4.1
-3.8
-5.3
Addenda:
89
90
91
Private goods-producing industries1...............................
Private services-producing industries2 ..........................
Information-communications-technology-producing
industries3......................................................................
services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and
data processing services; and computer systems design and related services.
D-58
June 2008
International Data
F. Transaction s Tables
Selected U.S. in te rn a tio n a l tra n sa c tio n s tables are p re se n te d in this section. For BEA’s full set o f d etailed esti
m ates o f U.S. in te rn a tio n a l tra n sa c tio n s, visit BEA’s W eb site at < w w w .bea.gov>.
Table F.1. U.S. International Transactions in Goods and Services
[Millions of dollars, monthly estimates seasonally adjusted]
2007
2006 '
March '
Exports of goods and services.......................................
Goods.............................................................................
2008
2007 r
A p rilr
May r
June r
July r
Aug. r
Sept. r
Oct. r
Nov. '
Dec. r
Jan. '
Feb. r
March '
April
p
1,457,014 1,645,726 130,134 130,520 133,687 135,744 139,982 142,113 142,778 144,108 145,214 146,144 150,213 153,478 150,579 155,545
91,054
91,210
93,411
94,867
97,502
98,524
99,468 100,371 100,968 101,842 104,686 108,098 105,029 109,564
Foods, feeds, and beverages.........................................
Industrial supplies and materials..................................
Capital goods, except automotive.................................
Automotive vehicles, parts, and engines.....................
Consumer goods (nonfood), except automotive.........
Other goods.....................................................................
Adjustments 1..................................................................
65,962
276,045
414,986
106,977
129,074
43,589
-13,525
84,264
316,335
447,433
121,045
146,102
47,300
-13,999
6,114
24,874
35,468
9,843
11,931
4,197
-1,373
6,515
25,352
34,950
9,838
11,937
3,954
-1,336
6,475
25,874
36,655
9,861
12,087
3,707
-1,248
6,677
26,979
36,711
9,945
11,837
3,815
-1,097
6,912
26,466
38,225
10,853
12,349
3,864
-1,167
7,505
27,365
38,108
10,282
12,440
3,901
-1,076
8,054
27,636
38,095
10,428
12,614
3,542
-900
7,700
27,555
38,991
10,502
12,480
4,186
-1,043
7,967
27,994
38,815
10,836
12,346
4,443
-1,433
7,986
28,704
39,404
10,101
12,802
3,909
-1,065
8,629
29,729
39,377
10,328
13,281
4,137
-796
9,113
31,775
39,331
10,826
13,364
4,594
-906
9,599
31,549
37,831
9,442
12,586
4,533
-512
9,730
32,627
40,053
10,085
13,403
4,442
-775
Services..........................................................................
433,905
497,245
39,080
39,310
40,276
40,877
42,480
43,589
43,310
43,737
44,246
44,302
45,527
45,381
45,550
45,981
85,720
22,036
46,323
72,191
189,050
17,430
1,155
96,712
25,586
51,586
82,614
223,483
16,052
1,212
7,520
2,006
4,132
6,354
17,590
1,380
98
7,586
1,964
4,179
6,465
17,714
1,305
97
7,740
2,007
4,231
6,607
18,182
1,414
96
7,828
2,025
4,230
6,793
18,626
1,281
95
8,292
2,155
4,326
7,191
19,090
1,324
101
8,468
2,165
4,389
7,341
19,834
1,289
103
8,481
2,210
4,366
7,408
19,472
1,268
105
8,753
2,379
4,483
7,258
19,568
1,190
106
8,866
2,399
4,695
7,265
19,725
1,188
107
8,880
2,481
4,611
7,294
19,765
1,163
107
8,843
2,376
4,995
7,353
20,202
1,653
105
9,002
2,375
4,970
7,418
20,189
1,322
105
9,003
2,437
4,956
7,497
20,460
1,093
104
9,064
2,462
5,128
7,575
20,438
1,211
104
Travel................................................................................
Passenger fares.......
Other transportation
Royalties and license fees.............................................
Other private services
Transfers under U.S. military agency sales contracts 1
U.S. Government miscellaneous services...................
1,023,109 1,148,481
Imports of goods and services.......................................
2,210,298 2,345,983 192,456 190,779 193,122 194,869 197,299 197,446 198,243 200,441 205,084 203,722 208,069 214,052 207,070 216,446
Goods.............................................................................
1,861,380 1,967,853 161,766 159,964 161,883 163,528 165,296 165,196 166,207 168,084 172,664 171,350 174,833 180,580 173,432 182,494
Foods, feeds, and beverages.........................................
Industrial supplies and materials..................................
Capital goods, except automotive.................................
Automotive vehicles, parts, and engines.....................
Consumer goods (nonfood), except automotive.........
Other goods.....................................................................
Adjustments 1..................................................................
74,938
601,988
418,259
256,627
442,639
59,487
7,441
81,683
634,746
444,486
258,920
474,892
62,234
10,892
6,779
49,812
36,324
21,870
40,509
5,055
1,417
6,616
50,539
36,067
21,345
39,241
4,983
1,173
6,720
52,042
36,672
20,732
39,429
5,167
1,122
6,755
52,826
37,186
21,425
39,490
5,205
641
6,883
53,548
37,228
22,233
39,056
5,268
1,081
6,963
53,483
37,283
21,928
39,231
5,272
1,035
6,963
53,505
37,907
22,075
39,377
5,284
1,094
6,922
55,139
37,704
22,170
39,975
5,299
876
7,102
59,198
37,851
22,099
40,314
5,468
632
6,907
60,310
37,712
20,722
39,727
5,168
804
7,081
63,954
37,446
21,229
39,059
5,272
794
7,183
64,510
38,272
22,794
40,963
5,201
1,657
7,088
61,521
37,882
20,299
39,531
5,526
1,584
7,369
67,140
39,132
21,303
40,220
5,748
1,582
Services..........................................................................
348,918
378,130
30,690
30,815
31,239
31,341
32,003
32,250
32,036
32,357
32,420
32,372
33,236
33,471
33,638
33,951
Travel................................................................................
Passenger fares...............................................................
Other transportation.......................................................
Royalties and license fees.............................................
Other private services....................................................
Direct defense expenditures 2.......................................
U.S. Government miscellaneous services...................
72,104
27,501
65,262
23,777
125,221
31,032
4,021
76,167
28,486
67,050
25,048
144,375
32,820
4,184
6,245
2,275
5,328
2,208
11,628
2,665
341
6,248
2,296
5,495
2,115
11,638
2,682
340
6,286
2,309
5,706
2,083
11,818
2,697
339
6,315
2,374
5,565
2,061
11,981
2,706
339
6,345
2,435
5,848
2,066
12,274
2,681
353
6,450
2,501
5,746
2,052
12,439
2,704
357
6,452
2,486
5,524
2,036
12,431
2,747
359
6,547
2,440
5,718
1,996
12,438
2,857
360
6,519
2,447
5,752
1,992
12,447
2,902
360
6,467
2,477
5,671
2,002
12,465
2,929
361
6,702
2,664
5,935
2,049
12,604
2,921
360
6,738
2,678
6,040
2,071
12,654
2,929
361
6,884
2,709
5,888
2,089
12,774
2,933
361
6,941
2,752
5,978
2,097
12,888
2,936
360
Memoranda:
Balance on goods................................................................
Balance on services...........................................................
Balance on goods and services........................................
-838,270 -819,373 -70,712 -68,754 -68,472 -68,661 -67,794 -66,672 -66,738 -67,713 -71,697 -69,509 -70,147 -72,483 -68,403 -72,931
84,987
10,477
11,274
119,115
8,390
8,495
9,037
9,536
11,339
11,380
11,930
11,826
12,291
11,909
11,911
12,030
-753,283 -700,258 -62,322 -60,259 -59,435 -59,125 -57,317 -55,333 -55,464 -56,333 -59,871 -57,579 -57,856 -60,573 -56,491 -60,901
p Preliminary
tions used to prepare BEA’s international and national accounts,
r Revised
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring the Census Bureau’s component data in line with the concepts and definiSource: U.S. Bureau of Economic Analysis and U.S. Bureau of the Census.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-59
Table F.2. U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
(Credits +; debits -)
2007
2006
II
Current account
1 Exports of goods and services and income receipts...................................
III
2007
IV
I
II
2007
2006
III '
IV
p
II
III
IV
\<
II r
III r
IV
p
2,410,587 524,226 528,476 553,692 552,813 597,713 620,195 639,866 518,595 532,894 550,649 557,146 590,756 626,130 636,554
2
Exports of goods and services.......................................................................... 1,628,358 360,837 362,051 380,696 377,567 400,657 414,230 435,904 356,575
Goods, balance of payments basis ............................................................. 1,149,208 258,538 254,059 268,493 267,879 285,234 287,991 308,103 252,458
3
4
Services ......................................................................................................
479,150 102,299 107,992 112,203 109,688 115,423 126,238 127,801 104,117
5
Transfers under U.S. military agency sales contracts ............................
4,188
4,102
4,291
3,950
3,837
3,661
4,188
15,706
4,259
21,212
97,097 22,050 24,006 20,853 19,712 24,557 29,177 23,651
Travel........................................................................................................
fi
7
25,329
6,032
5,698
7,080
5,328
Passenger fares.......................................................................................
5,233
5,520
5,860
6,868
Other transportation.................................................................................
51,854 11,640 11,954 11,837 11,903 12,571
8
13,143 14,237 11,754
15,514 17,536 15,889 17,559 18,248 19,650 15,196
9
Royalties and license fees ......................................................................
71,345 15,051
10
Other private services.............................................................................
216,609 43,850 46,090 51,691 52,109 50,638 54,657 59,205 46,153
11
U.S. government miscellaneous services................................................
294
297
296
288
309
318
286
1,210
286
12
Income receipts.................................................................................................
782,229 163,389 166,425 172,996 175,245 197,056 205,965 203,962 162,020
13
Income receipts on U.S.-owned assets abroad...........................................
779,267 162,662 165,713 172,276 174,516 196,321 205,221 203,208 161,293
14
Direct investment receipts.............
352,636 79,156 77,783 80,774 78,479 88,798 91,469 93,889 77,702
Other private receipts....................
424,433 83,004 87,348 90,830 95,467 106,981 113,231 108,754 83,004
15
582
672
521
587
16
U.S. government receipts..............
2,198
502
542
565
570
754
727
17
Compensation of employees.............
2,962
727
712
720
729
735
744
18 Imports of goods and services and income payments................................ -3,044,786 -708,953 -736,448 -720,683 -705,661 -765,310 -786,432 -787,383 -700,504
19
Imports of goods and services...............
-2,336,873 -556,647 -574,860 -558,370 -537,256 -581,566 -600,943 -617,109 -549,153
Goods, balance of payments basis ............................................................. -1,964,577 -468,288 -485,730 -472,120 -453,631 -486.927 -502,909 -521,110 -463,734
20
21
Services ......................................................................................................
-372,296 -88,359 -89,130 -86,250 -83,625 -94,639 -98,034 -95,999 -85,419
22
Direct defense expenditures.....................................................................
-7,737 —7.99C -7,601 -7,924 -8,091
-32,811
-8,136 -8,660 -7,737
23
Travel........................................................................................................
-76,426 -20,596 -20,549 -15,951 -15,917 -21,443 -21,992 -17,074 -18,077
24
Passenger fares....
-28,574 -7,528 -7,257 -6,542 -6,157 -7,568 -7,841 -7,008 -6,927
Other transportation.................................................................................
25
-67,094 -16,531 -17,037 -16,243 -15,568 -16,902 -17,519 -17,105 -16,401
26
Royalties and license fees ......................................................................
-27,924 -6,135 -6,092 -7,808 -6,405 -6,496 -6,493 -8,531
-6,532
27
Other private services............................................................................. -135,285 -28,816 -29,183 -31,118 -30,638 -33,121 -34,984 -36,542 -28,728
28
U.S. government miscellaneous services................................................
-4,182 -1,016 -1,022
-987 -1,016 -1,018 -1,069 -1,079 -1,016
29
Income payments..............................................................................................
-707,913 -152,306 -161,588 -162,313 -168,406 -183,744 -185,489 -170,274 -151,352
30
Income payments on foreign-owned assets in the United States................ -698,202 -150,062 -159,256 -159,763 -166,112 -181,432 -183,071 -167,586 -149,004
31
Direct investment payments..................................................................... -129,034 -34,113 -38,318 -32,558 -31,408 -37,808 -36,270 -23,547 -33,055
32
Other private payments............................................................................ -411,924 -83,037 -86,607 -91,171 -97,066 -104,146 -107,075 -103,637 -83,037
33
U.S. government payments...................................................................... -157,244 -32,912 -34,331 -36,034 -37,638 -39,478 -39,726 -40,402 -32,912
34
Compensation of employees........................................................................
-9,711 -2,244 -2,332 -2,550 -2,293 -2,312 -2,418 -2,688 -2,348
35 Unilateral current transfers, net.................................................................... -104,438 -22,860 -23,923 -20,823 -27,535 -22,558 -25,915 -28,430 -23,686
36
U.S. government grants ...................................................................................
-32,699 -7,226 -7,741 -6,504 -10,372 -5,435 -6,985 -9,903 -7,226
37
U.S. government pensions and other transfers.................................................
-6,835 -1,277 -1,465 -2,026 -1.54C -1 ,77£ -1,247 -2,26S -1,627
Private remittances and other transfers...........................................................
-64,904 -14,357 -14,717 -12,293 -15,623 -15,340 -17,683 -16,258 -14,833
38
365,868
260,285
105,583
4,102
21,527
5,696
11,716
15,815
46,433
294
167,026
166,314
78,372
87,348
594
712
377,623
266,486
111,137
4,291
22,110
5,765
11,789
16,444
50,441
297
173,025
172,305
80,846
90,830
629
720
380,995
269,289
111,706
4,259
21,877
5,772
12,144
16,645
50,713
296
176,151
175,422
79,422
95,467
533
729
395,362
278,511
116,851
3,950
23,164
6,132
12,677
17,569
53,072
288
195,394
194,659
87,075
106,981
603
735
419,701
297,118
122,583
3,837
25,211
6,550
13,084
18,384
55,209
309
206,428
205,684
91,928
113,231
525
744
432,298
304,290
128,009
3,661
26,845
6,874
13,949
18,747
57,615
318
204,256
203,502
94,211
108,754
537
754
-726,352 -717,914 -728,338 -757,645 -777,362 -781,438
-565,175
-479,184
-85,991
-7,990
-18,015
-6,889
-16,491
-6,497
-29,087
-1,022
-161,177
-158,823
-37,885
-86,607
-34,331
-2,354
-554,549
-466,825
-87,724
-7,601
-18,355
-6,939
-16,365
-6,636
-30,841
-987
-163,365
-160,977
-33,772
-91,171
-36,034
-2,388
-559,615
-471,001
-88,614
-7,924
-18,603
-6,769
-16,381
-6,810
-31,111
-1,016
-168,723
-166,405
-31,701
-97,066
-37,638
-2,318
-574,834
-483,570
-91,264
-8,091
-18,789
-6,921
-16,572
-6,898
-32,975
-1,018
-182,811
-180,390
-36,766
-104,146
-39,476
-2,421
-592,271
-497,665
-94,606
-8,136
-19,344
-7,298
-16,874
-7,015
-34,870
-1,069
-185,091
-182,647
-35,846
-107,075
-39,726
-2,444
-610,152
-512,341
-97,811
-8,660
-19,690
-7,586
-17,267
-7,201
-36,328
-1,079
-171,287
-168,760
-24,721
-103,637
-40,402
-2,527
-23,877 -20,673 -27,009 -23,169 -26,211 -28,052
-7,741 -6,504 -10,372 —5,43£ -6,985 -9,903
—1,71 £ -1,686
-1,62C -1,647 —1,70C -1,731
-14,516 -12,522 -14,937 -15,999 -17,507 -16,463
Capital account
39 Capital account transactions, net.................................................................
-2,317
-1,008
-545
-637
-559
-598
-609
-552
-1,008
-545
-637
-559
-598
-609
-552
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow (-))................................................................................. -1,206,332 -211,860 -213,420 -279,455 -455,679 -466,909 -178,610 -105,138 -212,218 -209,898 -289,028 -449,933 -465,90T -174,027 -116,464
41
42
43
44
45
46
47
48
49
50
51
52
U.S. official reserve assets................................................................................
-122
-560
1,006
1,415
G old ...............................................................
0
0
0
0
Special drawing rights...................................................................................
-154
-51
-54
-51
Reserve position in the International Monetary Fund..................................
1,021
-351
1,275
1,676
Foreign currencies........................................................................................
-212
-989
-158
-215
962
U.S. government assets, other than official reserve assets.............................
-22,931
1,765
1,570
-507
U.S. credits and other long-term assets........
-2,441
-376
-592
Repayments on U.S. credits and other long-term assets...........................
3.45C
2,147
1,454
2.17C
U.S. foreign currency holdings and U.S. short-term assets.........................
-23,940
-6
-8
15
U.S. private assets............................................................................................ -1,183,278 -213,065 -215,996 -281,832
Direct investment.......................................................................................... -335,415 -53,386 —52.54C -56,521
Foreign securities......................................................................................... -273,851 -59, oo: -55,496 -117.23C
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns...................................................................................................
15,819 -45,885 -29,162 15,818
U.S. claims reported by U.S. banks, not included elsewhere....................... -589,831 -54,791 -78,798 -123,899
53
54
55 Foreign-owned assets in the United States, excluding financial derivatives
56
57
58
59
60
61
62
63
64
65
66
67
-72
-54
26
0
0
0
-37
-43
-39
294
212
23C
-229
-247
-241
445
-369
623
-1,34?
-182
-60£
78C
1,091
881
-38
98
25
-456,048 -466,566 -179,179
-87,625 -79,42! -63,254
-87,206 -82,201 -100,220
-54
-22
-22
-560
1,006
-72
26
1,415
0
0
0
0
C
C
C
0
-54
-37
-35
-35
-51
-39
-51
-43
294
-351
1,275
212
230
285
285
1,678
-272
-272
-215
-241
-229
-247
-158
-212
1,570
623 -23,630
-23,630
1,765
962
445
-369
-302
-592
-182
-302
-376
-507
-608 -1,346
697
2,147
78C
697
1,454
1,091
881
2.17C
-6
-8
98
25 -24,025
-24,025
15
-38
-81,486 -213,423 -212,474 -291,405 -450,306 -465,565 -174,596 -92,812
-105,111 -53,74-! -49,015 -66,094 -81,886 -78,422 -58,671 -116,437
-4,222 -59,001 -55,496 -117,230 -87,206 -82,20c -100,22C -4,222
-47,830 -93,976 86,817 70,808 -45,885 -29,162 15,818 -47,830 -93,976 86,817 70,808
-233,384 -210,964 -102,522 ^2,961 -54,791 -78,798 -123,899 -233,384 -210,964 -102,522 -42,961
(increase/financial inflow (+))....................................................................
1,863,697 356,824 452,097 512,598 617,444 624,733 278,088 343,432 355,442 449,987 516,029 617,724 622,851 276,555 346,567
Foreign official assets in the United States.......................................................
U.S. government securities................
U.S. Treasury securities ..............
O th er............................................
Other U.S. government liabilities .....
U.S. liabilities reported by U.S. banks, not included elsewhere...................
Other foreign official assets.........................................................................
Other foreign assets in the United States.........................................................
Direct investment..................
U.S. Treasury securities................................................................................
U.S. securities other than U.S. Treasury securities......................................
U.S. currency................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns...........................................................!.......................................
U.S. liabilities reported by U.S. banks, not included elsewhere...................
412,698
231,852
49.90C
181,952
5,67:
108,456
66,717
1,450,999
204,41'
166,30"
391,88'
10,937
120,861
65,626
24,262
41,36-i
82'
42,530
11,878
235,963
50,43!
-19,307
145.75C
1,127
166,579
510,884
55,907
2,048
68
69
70 Financial derivatives, net..............................................................................
71 Statistical discrepancy (sum of above items with sign reversed)................
71a
Of which: Seasonal adjustment discrepancy....................................................
n.a
83,590
108,799 85,347 152,193 70,464 38,857 151,184 120,861
107,972 94,79! 110,772 43,275 17,586 60,21!!
65,626
24,262
52,746 47,04!
37,705 -13,125 -11 ,76£ 37,085
55,226 47,74!
73,067 56,400 29,35^
23,131
41,36'
82'
1,15'
1,129
-77
995
4,101
65'
-7,22" -15,666 29,797 15,989,805 52,87!
42,53!
6,894
5,086 10,970 11,285 10,471 33,991
11,878
343,298 427,251 465,251 554,269 239,231 192,248 234,581
45,08!
42,139 12,74!
49,056
52,01 - 102,875 36,78!
50,252 69,59! -19,307
-13,44*
22,09!
44,63!
1,81!
140,24! 132,745 112,26! 242,96! -43,12!
79,78! 145,75!
1,12!
8,382 -1,633,347
4,741
4,48!
1,127
108,799 85,347 152,193 70,464 38,857 151,184
107,972 94,798 110,772 43,275 17,586 60,219
52,746 47,04£ 37,705 -13,125 -11,765
37,088
23,131
55,226 47.74S 73,067 56,400 29,35^
-77
995
4,101
1,125
65^
1,15'
9,805 52,873
-7,221 -15,666 29,797 15,981
6,894
5,086 10,970 11,285 10,471 33,991
341,188 430,682 465,531 552,387 237,698 195,383
42,979 45.57C
13,025
50,129 101,342 39,915
50,252 69,598
-13,44!
1,81!
22,09!
44,635
140,24! 132,745 112,265 242,96! -43,128 79,780
4,741
4,480
3,347
1,125
8,382 -1,631
110,172
143,963
56,094 -93,311
68,397 94,921
55,907 69,637
2,048 100,640
14,001 14,911 -1,783
49,630 -21,148 -42,910
14,800
4,373
-1,007
33,935
8,552
n.a
84,731 -61,795
14,001 14,911 -1,783
49,378 -37,121 -36,643
-203,627
25,95!
-177,67'
10,68!
-20,82!
-187,814
-185,752
26,06-159,688
6,84!
-27,535
-180,384
-201,693
20,78-180,90!
13,312
-22,558
-190,155
69,637
100,640
49,612 93,624
172,283 203,603
49,612 93,624 110,172
172,283 203,603 143,963
14,800
16,170
-252
-15,973
6,267
11,796
-211,276
18.69S
-192,577
10,668
-23,686
-205,595
-218,895
19,592
-199,307
5,85C
-23,877
-217,334
-200,339
23,41-176,926
9,66
-20,67!
-187,938
-201,712
23,092
-178,62C
7,42!
-27,00!
-198,201
-1,007
34,719
56,094 -93,311
68,397 94,921
n.a.
8,552
66,972 -56,615
784 -17,759
5,180
-200,547
27,977
-172,57!
21,337
-26,21
-177,444
-208,051
30,198
-177,853
32,970
-28,052
-172,936
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20)........................................................................
Balance on services (lines 4 and 2 1)....................................................................
Balance on goods and services (lines 2 and 19)...................................................
Balance on income (lines 12 and 29)....................................................................
Unilateral current transfers, net (line 35)...............................................................
Balance on current account (lines 1,18, and 35 or lines 74, 75, and 76)............
p Preliminary
r Revised
-815,370
106,85-708,515
74,316
-104,43!
-738,638
-209,750
13.94C
-195,81
11,08!
—22,86(
-207,587
-231,671
18,862
-212,80!
4,837
-23,921
-231,895
-214,918
28,205
-186,71!
20,476
-25,915
-192,153
-213,007
31,802
-181,205
33,68!
-28,43!
-175,947
I
-205,059
25,588
-179,472
12,58!
-23,16!
-190,058
D-60
International Data
June 2008
Table F.3. U.S. International Transactions, by Area— Continues
[Millions of dollars]
European Union
Europe
Line
Euro area
United Kingdom
(Credits +; debits -)
2007:lll r
2007:IV
p
2007:lll r
2007:IV
p
2 0 0 7 :lll'
2007: IV
p
2007:lll r
2007:IV
p
C urrent account
Exports o f goods and services and incom e re c e ip ts ....................................................................
Exports of goods and services............................................................................................................
Goods, balance of payments basis...............................................................................................
Services............................................................................................................................................
Transfers under U.S. military agency sales contracts..............................................................
Travel......................................................................
Passenger fares....................................................
Other transportation.............................................
Royalties and license fees..........................................................................................................
Other private services.................................................................................................................
U.S. government miscellaneous services................................................................................
Income receipts.....................................................................................................................................
Income receipts on U.S.-owned assets abroad............................................................................
Direct investment receipts..........................................................................................................
Other private receipts....
U.S. government receipts
Compensation of employees..........................................................................................................
Im ports of goods and services and incom e p a ym en ts.................................................................
Imports of goods and services............................................................................................................
Goods, balance of payments b asis...............................................................................................
Services............................................................................................................................................
Direct defense expenditures.......................................................................................................
Travel..............................................................................................................................................
Passenger fares...........................................................................................................................
Other transportation....................................................................................................................
Royalties and license fees.......................
Other private services..............................
U.S. government miscellaneous services................................................................................
Income payments..............................................
Income payments on foreign-owned assets in the United States..............................................
Direct investment payments.......................................................................................................
Other private payments..
U.S. government payments........................................................................................................
Compensation of employees..........................................................................................................
Unilateral current transfers, n e t..........................................................................................................
U.S. government grants....................................
U.S. government pensions and other transfers................................................................................
Private remittances and other transfers..........
221,903
119,552
68,585
50,967
1,077
9,917
2,336
4,844
8,804
23,903
85
102,351
102,240
43,216
58,768
256
111
-240,984
-148,881
-104,029
-44,853
-3,091
-7,944
-4,177
-6,881
-4,021
-18,220
-519
-92,103
-91,975
-23,832
-58,916
-9,227
-128
-3,915
-514
-440
-2,961
225,836
124,229
71,853
52,376
810
7,469
2,329
5,287
9,660
26,740
80
101,607
101,495
44,402
56,818
275
112
-231,115
-152,139
-108,576
-43,563
-3,160
-5,401
-3,293
-6,689
-5,448
-19,044
-528
-78,975
-78,807
-12,861
-55,941
-10,005
-168
-3,193
-490
-431
-2,272
193,646
103,067
58,636
44,430
725
9,195
2,164
4,313
6,873
21,093
67
90,580
90,489
36,820
53,431
238
91
-209,748
-128,525
-89,535
-38,991
-2,728
-7,178
-3,979
-6,055
-3,157
-15,491
-402
-81,223
-81,122
-20,025
-53,984
-7,113
-101
-2,067
-38
-418
-1,611
196,952
107,707
62,096
45,611
591
6,850
2,121
4,712
7,611
23,666
59
89,245
89,153
37,667
51,233
253
92
-199,509
-130,941
-93,433
-37,508
-2,800
-4,959
-3,092
-5,865
-4,225
-16,171
-396
-68,568
-68,439
-9,489
-51,001
-7,949
-129
-1,291
-21
-408
-862
119,983
69,166
43,707
25,459
270
5,024
1,309
2,407
5,370
11,035
44
50,817
50,767
28,665
21,864
238
50
-133,832
-92,182
-67,681
-24,501
-2,243
-4,694
-2,433
-3,617
-2,228
-8,963
-323
-41,650
-41,576
-15,107
-22,502
-3,967
-74
-2,280
-3
-302
-1,975
122,622
71,653
46,229
25,424
267
3,331
1,161
2,581
5,597
12,449
38
50,969
50,918
29,175
21,491
252
52
-128,446
-93,738
-70,363
-23,375
-2,290
-2,955
-1,808
-3,502
-3,206
-9,287
-327
-34,708
-34,620
-8,673
-22,072
-3,875
-88
-2,628
-3
-300
-2,325
63,103
26,902
11,334
15,568
91
3,520
757
1,139
1,569
8,473
19
36,201
36,175
6,769
29,406
0
26
-61,759
-25,484
-14,243
-11,242
-311
-2,052
-1,256
-1,199
-472
-5,891
-61
-36,275
-36,252
-3,158
-30,563
-2,531
-23
396
0
-70
466
63,199
28,363
11,872
16,491
97
2,987
877
1,194
1,831
9,489
16
34,836
34,810
6,942
27,868
0
26
-57,228
-26,401
-15,036
-11,365
-350
-1,799
-1,145
-1,213
-588
-6,219
-51
-30,827
-30,799
609
-27,943
-3,465
-28
1,405
0
-69
1474
Capital account
39 Capital account transactions, n e t.......................................................................................................
-210
-210
-113
-113
-63
-63
-13
-13
-238,147
-219
0
-79,290
-249
0
-219,326
-163
0
-63,298
-185
0
-70,650
-163
0
-96,236
-185
0
-141,323
0
0
38,660
0
0
-219
42
-27
86
-17
-237,970
-44,865
-68,147
7,553
-132,511
-249
-23,968
-87
120
-24,001
-55,073
-58,362
-9,841
10,471
2,659
-163
14
-21
47
-12
-219,177
-38,372
-67,158
6,664
-120,311
-185
-19,992
-73
81
-20,000
-43,121
-56,459
-10,305
11,746
11,897
-163
17
0
25
-8
-70,504
-27,674
-18,323
-16,833
-7,674
-185
-19,991
0
7
-19,998
-76,060
-47,640
-73
2,155
-30,502
-1
0
0
-1
-141,322
-9,703
-53,189
28,645
-107,075
-2
0
0
-2
38,662
-6,556
-13,273
8,152
50,339
121,965
22,710
n
( 1)
( 1)
-319
( 1)
( 1)
99,255
74,976
62,514
-29,193
n.a.
51,662
-60,704
55,077
34,160
( 1)
( 1)
( 1)
295
n
( 1)
20,917
10,491
45,167
42,836
n.a.
-79,373
1,796
147,657
-7,186
78,049
-15,770
64,039
-1,745
( 2)
(2)
(2)
( 2)
-227
( 2)
( 2)
( 2)
78,565
(2)
-26,240
n.a.
51,522
244,037
(2)
(2)
(2)
(2)
61
( 2)
(2)
( 2)
-22,162
(2)
35,635
n.a.
-80,030
2 59,310
(2)
(2)
(2)
(2)
-34
( 2)
( 2)
( 2)
46,367
(2)
-20,531
n.a.
67,051
2-14,804
( 2)
(2)
(2)
(2)
200
(2)
(2)
( 2)
-21,698
( 2)
-21,988
n.a.
-37,388
265,104
( 2)
( 2)
( 2)
( 2)
35
(2)
(2)
( 2)
25,419
( 2)
-5,869
n.a.
-16,561
2 61,015
( 2)
(2)
(2)
(2)
-8
( 2)
( 2)
( 2)
-977
(2)
58,747
n.a.
-42,012
2-17,495
12,394
126,995
n.a.
32,894
10,587
79,364
n.a.
74,446
-709
9,502
n.a.
120,520
10,496
65,061
n.a.
-44,279
-35,443
6,114
-29,329
10,248
-3,915
-22,996
-36,723
8,813
-27,910
22,632
-3,193
-8,471
-30,898
5,440
-25,458
9,356
-2,067
-18,169
-31,337
8,102
-23,235
20,678
-1,291
-3,848
-23,975
958
-23,016
9,167
-2,280
-16,129
-24,134
2,049
-22,085
16,262
-2,628
-8,451
-2,909
4,327
1,418
-73
396
1,740
-3,165
5,126
1,962
4,009
1,405
7,376
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
3/
38
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-))
41
U.S. official reserve assets..................................................................................................................
42
Gold....................................................................................................................................................
43
44
45
46
U.S. government assets, other than official reserve assets...........................................................
47
U.S. credits and other long-term assets........................................................................................
Repayments on U.S. credits and other long-term assets...........................................................
48
49
U.S. foreign currency holdings and U.S. short-term assets........................................................
U.S. private assets...............................................................................................................................
50
51
Direct investment..............................................................................................................................
52
Foreign securities.............................................................................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns........................
54
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
Foreign official assets in the United S tates.......................................................................................
57
U.S. government securities
U.S. Treasury securities.
58
O ther..............................................................................................................................................
59
60
Other U.S. government liabilities....................................................................................................
61
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
62
Other foreign official assets.............................................................................................................
Other foreign assets in the United States..........................................................................................
63
64
Direct investment..............................................................................................................................
65
U.S. Treasury securities..................................................................................................................
U.S. securities other than U.S. Treasury securities.....................................................................
66
67
U.S. currency.....................................................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.....................
68
69
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
70 Financial derivatives, net..............................................................................................................
71 Statistical discrepancy (sum of above items with sign reversed)...........................................
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20).........................................................................................................
Balance on services (lines 4 and 2 1 ).....................................................................................................
Balance on goods and services (lines 2 and 1 9 ).................................................................................
Balance on income (lines 12 and 2 9).....................................................................................................
Unilateral current transfers, net (line 3 5 )...............................................................................................
Balance on current account (lines 1,18, and 35 or lines 74, 75, and 7 6 ).........................................
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-61
Table F.3. U.S. International Transactions, by Area—Continues
[Millions of dollars]
Latin America and Other
Western Hemisphere
Canada
Line
(Credits +; debits - )
2007:lll r
Current account
1 Exports of goods and services and income receipts...............................................................
2
Exports of goods and services...........................................................................................................
3
Goods, balance of payments b asis...............................................................................................
4
Services............................................................................................................................................
5
Transfers under U.S. military agency sales contracts.............................................................
6
Travel....................................................................................
7
Passenger fares...
8
Other transportation....................................................................................................................
9
Royalties and license fees..........................................................................................................
Other private services.................................................................................................................
10
11
U.S. government miscellaneous services................................................................................
12
Income receipts.........................
13
Income receipts on U.S.-owned assets abroad............................................................................
14
Direct investment receipts
Other private receipts......
15
U.S. government receipts.
16
17
Compensation of employees
18 Imports of goods and services and income payments............................................................
19
Imports of goods and services...........................................................................................................
Goods, balance of payments basis...............................................................................................
20
21
Services............................................................................................................................................
22
Direct defense expenditures.......................................................................................................
23
Travel.....................
24
Passenger fares...
25
Other transportation....................................................................................................................
26
Royalties and license fees..........................................................................................................
27
Other private services.................................................................................................................
28
U.S. government miscellaneous services................................................................................
29
Income payments.................................................................................................................................
30
Income payments on foreign-owned assets in the United States..............................................
31
Direct investment payments..............................................
32
Other private payments......................................................
33
U.S. government payments...............................................
34
Compensation of employees..........................................................................................................
35 Unilateral current transfers, net......................
36
U.S. government grants.....................................
3/
U.S. government pensions and other transfers................................................................................
38
Private remittances and other transfers...........
2007:IV
p
2007:lll '
2007: IV
Mexico
p
2007:111 r
Australia
Asia and Pacific
2007: IV
p
2007:lll '
2007:IV
p
2007:lll r
2007:IV
p
85,584
91,201
129,212
130,579
44,861
45,292
140,932
146,063
11,692
11,805
73,538
61,584
11,954
52
3,254
909
815
1,815
5,078
31
12,046
12,007
5,948
6,059
0
39
78,705
66,121
12,584
88
3,419
743
854
1,884
5,574
22
12,496
12,454
6,444
6,010
0
42
83,567
62,145
21,422
267
6,739
1,833
1,592
1,521
9,427
43
45,645
45,590
16,168
29,385
37
55
86,957
65,450
21,507
278
5,892
2,041
1,674
1,584
9,992
45
43,622
43,567
16,295
27,186
86
55
40,921
34,797
6,125
4
1,767
557
405
561
2,825
6
3,940
3,931
2,772
1,157
2
9
41,209
34,634
6,575
3
2,077
544
405
551
2,987
7
4,083
4,074
2,897
1,175
2
9
111,059
78,240
32,818
812
7,904
1,610
4,532
5,867
11,985
109
29,873
29,773
18,145
11,529
99
100
116,311
83,633
32,678
1,065
6,093
1,835
4,955
6,248
12,354
128
29,751
29,651
18,420
11,107
124
100
7,615
4,883
2,732
115
810
161
100
354
1,188
4
4,077
4,070
2,016
2,054
0
7
7,771
5,025
2,746
106
640
186
106
389
1,313
6
4,034
4,027
2,055
1,972
0
7
-93,448
-93,926
-144,146
-147,454
-61,906
-64,787
-248,433
-252,178
-5,625
-5,493
-86,029
-77,997
-8,032
-52
-3,176
-136
-1,259
-214
-3,103
-92
-7,419
-7,294
-3,505
-3,351
-438
-125
-87,448
-81,216
-6,232
-55
-1,147
-116
-1,269
-242
-3,304
-99
-6,478
-6,334
-2,488
-3,450
-396
-144
-104,932
-89,424
-15,508
-92
-5,979
-930
-1,635
-189
-6,532
-151
-39,214
-37,256
-1,862
-31,114
-4,280
-1,958
-109,273
-93,958
-15,315
-105
-5,727
-797
-1,620
-253
-6,665
-148
-38,181
-36,184
-1,751
-29,858
-4,575
-1,996
-58,235
-54,389
-3,846
-4
-2,341
-231
-266
-83
-872
-49
-3,671
-1,767
(D)
-706
(D)
-1,904
-61,150
-56,991
-4,159
-5
-2,691
-176
-273
-86
-880
-48
-3,637
-1,719
(D)
-703
(D)
-1,918
-208,800
-186,923
-21,877
-1,505
-3,740
-2,279
-6,097
-1,996
-6,083
-178
-39,633
-39,446
-5,606
-10,071
-23,769
-187
-212,482
-189,279
-23,203
-1,676
-3,943
-2,462
-5,989
-2,506
-6,449
-178
-39,696
-39,361
-5,299
-10,631
-23,431
-335
-3,905
-2,251
-1,655
-27
-322
-239
-86
-105
-852
-24
-1,720
-1,716
-448
-1,012
-256
-4
-4,048
-2,249
-1,800
-40
-341
-287
-90
-137
-878
-27
-1,444
-1,439
-362
-829
-248
-5
-219
-160
-7,383
-6,987
-2,924
-2,936
-4,489
-6,419
-54
-35
0
-162
-5 7
0
-162
2
-803
-204
-6,376
-581
-186
-6,220
-25
-7 4
-2,825
-2 8
-72
-2,836
-1,780
-221
-2,488
-4,219
-217
-1,983
0
-2 0
-3 4
0
-1 9
-1 6
39 Capital account transactions, net................................................................................................
38
38
-93
-40
-33
-27
-245
-245
-7
-7
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-))
-7,625
-13,543
29,531
20,082
-4,878
-4,576
37,921
-13,925
5,974
-2,147
0
0
0
0
0
0
0
0
0
0
0
0
-2 8
0
-2 3
0
0
0
0
0
0
0
0
0
-7,625
-2,718
-850
1,125
-5,182
0
0
0
0
-13,543
-11,769
-5,534
-1,545
5,305
13
-50
159
-96
29,518
697
-35,309
72,728
-8,598
201
-60
264
-3
19,881
-13,985
-6,428
61,568
-21,274
8
0
15
-7
-4,886
-1,909
361
-141
-3,197
0
-10
11
-1
-4,576
-2,720
-258
-5 8
-1,540
-28
347
-16
343
20
37,602
-11,872
2,682
4,835
41,957
-23
133
-46
180
-1
-14,035
-15,095
15,611
784
-15,335
-1
0
0
-1
5,975
-2,673
1,869
12,724
-5,945
0
0
0
0
-2,147
-1,523
-310
2,560
-2,874
financial inflow (+))....................................................................................................................
24,903
7,724
100,421
131,759
522
4,288
25,476
117,190
-13,715
-6,402
Foreign official assets in the United States.......................................................................................
56
57
U.S. government securities.............
58
U.S. Treasury securities..............
59
O ther..............................................
60
Other U.S. government liabilities....................................................................................................
61
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
62
Other foreign official assets....................................................
63
Other foreign assets in the United States.................................
64
Direct investment.....................................................................
65
U.S. Treasury securities..................................................................................................................
66
U.S. securities other than U.S. Treasury securities.....................................................................
6/
U.S. currency.....................................................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.....................
69
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
70 Financial derivatives, net..............................................................................................................
71 Statistical discrepancy (sum of above items with sign reversed)...........................................
-1,055
( 1)
(’)
( 1)
107
(')
( 1)
25,958
15,998
( 1)
6,808
n.a.
(')
9,005
846
n
( 1)
( 1)
55
( 1)
( 1)
6,878
6,858
( 1)
6,859
n.a.
(')
-7,538
15,636
( 1)
(>)
( 1)
28
V)
V)
84,785
1,017
( 1)
-27,130
n.a.
( 1)
85,148
8,755
( 1)
(’)
( 1)
13
( 1)
0
123,004
4,814
( 1)
22,401
n.a.
( 1)
78,642
(2)
0
(2)
(2)
-1
(2)
( 2)
(2)
196
(2)
1,240
n.a.
353
(2)
( 2)
(2)
(2)
3
( 2)
( 2)
(2)
-40
( 2)
-444
n.a.
-123
2 4,892
2,976
V)
n
( 1)
1,114
n
( 1)
22,500
9,790
(’)
5,209
n.a.
( 1)
36,992
91,893
n
n
V)
3,444
( 1)
( 1)
25,297
12,509
(')
5,720
n.a.
( 1)
14,577
(2)
(2)
(2)
( 2)
143
(2)
(2)
(2)
1,469
(2)
25
n.a.
486
2-15,838
( 2)
( 2)
(2)
( 2)
70
( 2)
(2)
( 2)
1,434
( 2)
1,060
n.a.
81
2-9,047
-590
-8,643
n.a.
8,666
-2,181
-105,361
n.a.
-127,939
( 3)
( 3)
24,357
22,746
-1,399
50,238
n.a.
9,515
35
1,700
n.a.
2,279
-16,413
3,922
-12,491
4,627
-219
-8,083
-15,094
6,352
-8,742
6,018
-160
-2,884
-27,280
5,915
-21,365
6,432
-7,383
-22,316
-28,509
6,192
-22,317
5,441
-6,987
-23,862
-19,592
2,278
-17,314
269
-2,924
-19,969
-22,357
2,416
-19,942
446
-2,936
-22,432
-108,682
10,941
-97,741
-9,760
-4,489
-111,990
-105,645
9,474
-96,171
-9,945
-6,419
-112,535
2,632
1,078
3,710
2,357
-54
6,013
2,777
946
3,722
2,590
-35
6,277
Capital account
41
U.S. official reserve assets..................................................................................................................
42
Gold..............................................................................
43
Special drawing rights...............................................
44
Reserve position in the International Monetary Fund.................................................................
45
Foreign currencies......................................................
46
U.S. government assets, other than official reserve assets...........................................................
47
U.S. credits and other long-term assets...............................
48
Repayments on U.S. credits and other long-term assets...
49
U.S. foreign currency holdings and U.S. short-term assets
50
U.S. private assets......................................................................
51
Direct investment..............................................................................................................................
52
Foreign securities.............................................................................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns........................
54
U.S. claims reported by U.S. banks, not included elsewhere.....................................................
55 Foreign-owned assets in the United States, excluding financial derivatives (increase/
CO
O
C
"7
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20).........................................................................................................
Balance on services (lines 4 and 2 1 )..................
Balance on goods and services (lines 2 and 19)
Balance on income (lines 12 and 2 9)..................
Unilateral current transfers, net (line 3 5 )................................................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 ).........................................
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
D-62
International Data
June 2008
Table F.3. U.S. International Transactions, by Area— Table Ends
[Millions of dollars]
China
India
Japan
Middle East
Africa
(Credits +; debits -)
Line
2007:lll '
2007: IV
p
2 0 0 7 :lllr
2007: IV
p
2007:lll r
2007:IV
p
2007:lll r
2007:IV
p
2007:lll r
2007:1V o
Current account
21,797
23,510
9,265
8,375
33,818
35,241
19,019
22,164
11,132
11,350
19,907
16,248
3,659
0
717
175
688
398
1,672
9
1,890
1,880
1,590
272
18
10
21,704
18,361
3,343
0
377
138
722
440
1,659
7
1,806
1,796
1,602
186
8
10
8,126
5,763
2,363
19
807
281
124
87
1,031
13
1,139
1,135
781
348
6
4
7,209
5,495
1,714
10
410
155
137
107
882
13
1,165
1,161
790
367
4
5
26,103
14,770
11,333
117
3,386
863
1,000
2,587
3,346
34
7,715
7,695
2,220
5,447
28
20
27,695
15,615
12,081
142
3,146
1,218
1,115
2,730
3,680
50
7,545
7,525
2,292
5,210
23
21
16,243
11,200
5,043
1,179
887
83
659
98
2,120
17
2,776
2,751
1,921
806
24
25
19,288
14,501
4,787
1,134
474
102
681
103
2,275
18
2,876
2,851
2,032
798
21
25
9,230
6,237
2,993
414
476
97
311
143
1,530
22
1,902
1,883
1,405
410
68
19
9,231
6,544
2,687
234
304
30
351
171
1,574
23
2,118
2,100
1,631
445
24
19
-100,369
-101,345
-8,383
-9,130
-59,817
-61,609
-28,827
-30,823
-26,044
-27,367
-88,647
-86,526
-2,121
-1
-551
-193
-890
-1 9
-458
-9
-11,721
-11,638
-9
-1,956
-9,673
-83
-89,085
-87,076
-2,009
-1
-504
-143
-870
-22
-461
-8
-12,260
-12,148
-13
-2,237
-9,898
-111
-7,677
-5,896
-1,781
-5
-410
-32
-97
-8
-1,224
-5
-706
-674
-8,527
-6,488
-2,040
-5
-537
-5 4
-108
-1 2
-1,319
-5
-602
-534
-44,867
-37,793
-7,074
-405
-639
-383
-1,704
-2,264
-1,646
-3 3
-16,742
-16,704
-4,179
-3,737
-8,788
-38
-25,504
-20,511
-4,992
-3,301
-505
-239
-320
-5 8
-509
-60
-3,323
-3,315
-201
-1,492
-1,622
-8
-27,765
-22,652
-5,112
-3,566
-365
-212
-323
-6 0
-529
-5 7
-3,059
-3,043
112
-1,559
-1,596
-16
-25,575
-24,025
-1,550
-95
-648
-8 0
-120
-6
-533
-68
-469
-457
12
-260
-209
-12
-26,887
-25,429
-1,458
-98
-491
-128
-113
-1 2
-548
-68
-480
-451
17
-249
-219
-29
-575
-3
-2
-570
39 Capital account transactions, net................................................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-))
1 Exports of goods and services and income receipts...............................................................
2
Exports of goods and services............................................................................................................
Goods, balance of payments basis................................................................................................
3
4
Services............................................................................................................................................
Transfers under U.S. military agency sales contracts..............................................................
5
Travel..............................................................................................................................................
6
7
Passenger fares............
Other transportation.....
8
9
Royalties and license fees..........................................................................................................
10
Other private services...
11
U.S. government miscellaneous services................................................................................
12
Income receipts...............................................
Income receipts on U.S.-owned assets abroad............................................................................
13
14
Direct investment receipts.....................
15
Other private receipts.............................
U.S. government receipts............................................................................................................
16
17
Compensation of employees..........................................................................................................
18 Imports of goods and services and income payments............................................................
19
Imports of goods and services............................................................................................................
20
Goods, balance of payments basis................................................................................................
21
Services..............................
Direct defense expenditures.......................................................................................................
22
23
Travel...............................
24
Passenger fares............
25
Other transportation....................................................................................................................
26
Royalties and license fees.....................
27
Other private services...........................
28
U.S. government miscellaneous services................................................................................
29
Income payments............................................
30
Income payments on foreign-owned assets in the United States..............................................
Direct investment payments.......................................................................................................
31
32
Other private payments.
33
U.S. government payments........................................................................................................
34
Compensation of employees...........................................................................................................
35 Unilateral current transfers, net...................................................................................................
36
U.S. government grants........................................................................................................................
37
U.S. government pensions and other transfers................................................................................
Private remittances and other transfers.............................................................................................
38
(D)
(D)
-32
-68
-42,893
-36,246
-6,648
-390
-874
-297
-1,715
-1,806
-1,532
-3 4
-16,923
-16,902
-4,366
-3,429
-9,107
-21
-497
-587
-481
402
470
-2,161
-2,964
-1,760
-1,513
-2
-1
-494
-30
-5
-552
-34
-5
-442
0
-67
469
0
-65
535
-1,432
-32
-697
-2,202
-30
-732
-930
-9
-821
-696
-9
-808
-42
-42
-45
-45
2
2
-85
-85
-15
-10
2,394
-1,097
-2,379
287
27,246
16,336
3,581
-8,628
-1,350
-4,206
0
0
0
0
0
0
0
0
-28
0
-23
0
0
0
0
0
0
0
0
0
40
0
39
1
2,354
-1,327
791
279
2,611
22
0
21
1
-1,119
-1,273
1,460
-38
-1,268
28
0
27
1
-2,407
-808
-502
-188
-909
14
-2
16
0
273
-786
1,400
-28
-313
-28
-1
0
0
-1
27,275
-2,757
2,689
315
27,028
-23
0
0
0
0
16,359
-1,414
10,287
-1,160
8,646
32
-13
45
(*)
3,549
644
1,272
568
1,065
26
-10
39
-3
-8,654
-1,703
257
-302
-6,906
91
-64
147
8
-1,441
-475
-573
-1
-392
18
-76
94
0
-4,224
467
1,646
-35
-6,302
34,118
(2)
(2)
48,849
(2)
545
1,777
(2)
4,807
(2)
27,430
(2)
2,097
15,338
-2,418
10,060
-1,116
0
()
(2)
(2)
( 2)
13,856
(')
-573
( 1)
1,673
( 1)
( ’)
( ’)
( 1)
n
(D)
(D)
-175
-159
Capital account
41
U.S. official reserve assets..................................................................................................................
42
Gold....................................................................................................................................................
43
44
45
46
U.S. government assets, other than official reserve assets...........................................................
47
U.S. credits and other long-term assets........................................................................................
Repayments on U.S. credits and other long-term assets...........................................................
48
U.S. foreign currency holdings and U.S. short-term assets........................................................
49
50
U.S. private assets....
Direct investment...
51
52
Foreign securities.............................................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns........................
53
54
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 (+)).....................................................................................................................
Foreign official assets in the United S tates.......................................................................................
56
57
U.S. government securities
58
U.S. Treasury securities
O ther..............................................................................................................................................
59
Other U.S. government liabilities....................................................................................................
60
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
61
62
Other foreign official assets.............................................................................................................
63
Other foreign assets in the United States..........................................................................................
64
Direct investment............................
65
U.S. Treasury securities................
66
U.S. securities other than U.S. Treasury securities.....................................................................
67
U.S. currency.....................................................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.....................
69
U.S. liabilities reported by U.S. banks, not included elsewhere.................................................
70 Financial derivatives, net..............................................................................................................
71 Statistical discrepancy (sum of above items with sign reversed)...........................................
( 2)
( 2)
( 2)
(2)
( 2)
( 2)
(2)
(2)
0
-9
-2
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
76
( 2)
(2)
256
(2)
-4 4
n.a.
194
2 1,373
-22
(2)
27
( 2)
( 2)
7,534
(2)
2,883
n.a.
478
2—6,115
162
-724
-1,303
7,640
n.a.
-17,870
( 3)
( 3)
6,375
4,998
330
20,124
n.a.
11,687
-22,179
5,007
-17,172
-9,196
470
-25,898
-9,312
51
-9,261
-547
-2,161
-11,969
-8,151
-326
-8,477
-183
-2,964
-11,624
-17,788
1,443
-16,345
1,433
-1,760
-16,672
-18,885
1,229
-17,656
1,638
-1,513
-17,531
-8,936
n.a.
-2,801
2 60,510
( 3)
( 3)
( 3)
( 3)
42,676
30,622
1,585
-783
405
-6,864
-70,278
1,538
-68,740
-9,831
-575
-79,146
-68,715
1,334
-67,381
-10,454
-497
-78,332
-133
581
448
433
-587
294
-992
-326
-1,318
563
-481
-1,236
-21,476
4,685
-16,791
-9,208
402
-25,597
(2)
V)
( 1)
-42
(’)
( 1)
3,213
550
( 1)
1,117
n.a.
-4,132
n.a.
435
237,824
(2)
( 1)
195
( 2)
( 2)
( 2)
6,280
( 2)
12,201
n.a.
-62
28,816
( 2)
( 2)
399
(2)
-105
n.a.
180
280
(2)
13
(2)
(2)
V)
V)
n
259
( 1)
(')
1,482
743
( 1)
2,273
n.a.
( 1)
-172
(')
( 1)
-1,845
-732
( 1)
-200
n.a.
( 1)
34
(’)
( 1)
8,387
89
( 1)
-289
n.a.
( ’)
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20).........................................................................................................
Balance on services (lines 4 and 2 1 )...............
Balance on goods and services (lines 2 and 1 9 ).................................................................................
Balance on income (lines 12 and 2 9).....................................................................................................
Unilateral current transfers, net (line 3 5 )...............................................................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6 ).........................................
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-63
Table F.4 Private Services Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2006
2007
II
1 Exports of private services................................
404,327 462,234
III
97,824
103,596
Seasonally adjusted
2007
2006
p
IV
I
II
2006
III r
IV
p
107,615 105,133 111,185 122,093 123,823
II
III
99,643 101,187
2007
IV
Ir
106,549 107,151
II '
III r
IV
p
112,614 118,438 124,030
2
3
4
5
6
Travel (table F.2, line 6 )........................................
Passenger fares (table F.2, line 7 )......................
Other transportation (table F.2, line 8 )...............
Freight................................................................
Port services.....................................................
85,694
22,187
46,297
17,266
29,031
97,097
25,329
51,854
19,486
32,368
22,050
5,233
11,640
4,300
7,340
24,006
6,032
11,954
4,405
7,549
20,853
5,698
11,837
4,501
7,336
19,712
5,520
11,903
4,387
7,516
24,557
5,860
12,571
4,811
7,760
29,177
6,868
13,143
4,909
8,234
23,651
7,080
14,237
5,379
8,858
21,212
5,328
11,754
4,252
7,502
21,527
5,696
11,716
4,422
7,294
22,110
5,765
11,789
4,443
7,346
21,877
5,772
12,144
4,487
7,657
23,164
6,132
12,677
4,762
7,915
25,211
6,550
13,084
4,929
8,155
26,845
6,874
13,949
5,308
8,641
7
8
9
10
11
12
13
Royalties and license fees (table F.2, line 9).....
Affiliated............................................................
U.S. parents' receipts..................................
U.S. affiliates’ receipts.................................
Unaffiliated........................................................
Industrial processes 1.................................
O th er2 ..........................................................
62,378
44,477
39,340
5,137
17,901
7,510
10,390
71,345
46,722
41,323
5,399
24,623
7,586
17,037
15,051
11,063
9,807
1,256
3,988
1,712
2,276
15,514
11,068
9,764
1,305
4,446
1,800
2,646
17,536
12,178
10,613
1,565
5,358
2,184
3,173
15,889
10,684
9,618
1,065
5,205
1,926
3,279
17,559
11,619
10,300
1,319
5,940
1,925
4,015
18,248
11,627
10,256
1,370
6,621
1,860
4,762
19,650
12,793
11,148
1,644
6,857
1,875
4,982
15,196
11,107
9,809
1,299
4,088
1,712
2,376
15,815
11,269
9,989
1,280
4,546
1,800
2,746
16,444
11,386
10,145
1,241
5,058
2,184
2,873
16,645
11,440
10,180
1,260
5,205
1,926
3,279
17,569
11,629
10,293
1,336
5,940
1,925
4,015
18,384
11,763
10,403
1,360
6,621
1,860
4,762
18,747
11,890
10,447
1,443
6,857
1,875
4,982
14
15
16
17
18
19
20
21
22
23
Other private services (table F.2, line 10)..........
Affiliated services.............................................
U.S. parents’ receipts..................................
U.S. affiliates’ receipts.................................
Unaffiliated services.........................................
Education......................................................
Financial services........................................
Insurance services......................................
Telecommunications....................................
Business, professional, and technical
services.....................................................
Other unaffiliated se rvice s3.......................
187,771
57,638
32,551
25,088
130,133
14,570
37,114
9,276
6,257
216,609
63,794
36,644
27,150
152,815
14,987
45,309
10,490
7,110
43,850
14,065
7,878
6,187
29,785
1,800
8,781
2,341
1,399
46,090
13,660
7,791
5,869
32,430
4,066
8,395
2,239
1,792
51,691
16,758
9,361
7,397
34,933
2,695
10,675
2,366
1,712
52,109
14,649
8,651
5,998
37,460
6,176
10,191
2,581
1,700
50,638
15,372
8,819
6,553
35,266
1,842
10,986
2,552
1,788
54,657
15,183
8,798
6,385
39,474
4,194
11,702
2,623
1,809
59,205
18,590
10,376
8,214
40,615
2,775
12,430
2,734
1,813
46,153
14,438
8,065
6,373
31,715
3,637
8,781
2,341
1,399
46,433
14,453
8,214
6,239
31,980
3,656
8,395
2,239
1,792
50,441
14,929
8,433
6,496
35,512
3,671
10,675
2,366
1,712
50,713
15,362
8,868
6,494
35,351
3,702
10,191
2,581
1,700
53,072
15,768
8,962
6,806
37,304
3,730
10,986
2,552
1,788
55,209
16,113
9,311
6,802
39,096
3,774
11,702
2,623
1,809
57,615
16,551
9,501
7,050
41,064
3,783
12,430
2,734
1,813
47,400
15,515
56,122
18,796
11,653
3,810
12,092
3,846
13,063
4,422
12,446
4,366
13,566
4,532
14,363
4,782
15,747
5,116
11,732
3,826
12,115
3,783
12,695
4,393
12,739
4,439
13,699
4,550
14,469
4,719
15,216
5,089
24
25 Imports of private services.................................
307,770 335,303
79,606
80,118
77,662
74,685
85,530
88,829
86,260
76,666
76,979
79,136
79,674
82,155
85,401
88,072
26
27
28
29
30
Travel (table F.2, line 23)......................................
Passenger fares (table F.2, line 2 4 )....................
Other transportation (table F.2, line 2 5).............
Freight................................................................
Port services.....................................................
72,029
27,503
65,282
45,700
19,582
76,426
28,574
67,094
45,632
21,462
20,596
7,528
16,531
11,430
5,101
20,549
7,257
17,037
11,785
5,252
15,951
6,542
16,243
11,480
4,763
15,917
6,157
15,568
10,798
4,770
21,443
7,568
16,902
11,626
5,276
21,992
7,841
17,519
11,893
5,626
17,074
7,008
17,105
11,315
5,790
18,077
6,927
16,401
11,346
5,055
18,015
6,889
16,491
11,515
4,976
18,355
6,939
16,365
11,612
4,753
18,603
6,769
16,381
11,254
5,127
18,789
6,921
16,572
11,352
5,220
19,344
7,298
16,874
11,544
5,330
19,690
7,586
17,267
11,482
5,785
31
32
33
34
35
36
37
Royalties and license fees (table F.2, line 26)....
Affiliated............................................................
U.S. parents’ payments...............................
U.S. affiliates’ payments..............................
Unaffiliated........................................................
Industrial processes 1.................................
O th er2 ..........................................................
26,432
20,963
2,260
18,703
5,469
3,017
2,453
27,924
22,883
2,468
20,415
5,040
3,272
1,769
6,135
4,814
552
4,262
1,321
708
614
6,092
4,810
553
4,258
1,282
741
542
7,808
6,643
593
6,049
1,165
782
382
6,405
5,128
615
4,513
1,277
856
421
6,496
5,254
602
4,652
1,242
776
466
6,493
5,251
603
4,647
1,242
812
430
8,531
7,251
648
6,603
1,280
828
452
6,532
5,211
552
4,660
1,321
708
614
6,497
5,216
553
4,663
1,282
741
542
6,636
5,471
593
4,877
1,165
782
382
6,810
5,533
615
4,918
1,277
856
421
6,898
5,656
602
5,054
1,242
776
466
7,015
5,773
603
5,170
1,242
812
430
7,201
5,921
648
5,273
1,280
828
452
38
39
40
41
42
43
44
45
46
47
Other private services (table F.2, line 2 7)..........
Affiliated services.............................................
U.S. parents' payments...............................
U.S. affiliates’ payments..............................
Unaffiliated services.........................................
Education......................................................
Financial services.......................................
Insurance services......................................
Telecommunications....................................
Business, professional, and technical
services.....................................................
Other unaffiliated services 3.......................
116,524
48,201
26,026
22,175
68,323
4,403
8,497
33,582
4,557
135,285
53,311
29,375
23,936
81,974
4,780
11,840
38,030
4,899
28,816
11,834
6,594
5,240
16,982
1,107
2,133
8,333
1,192
29,183
11,603
6,327
5,276
17,580
1,459
2,115
8,600
1,135
31,118
13,213
7,167
6,046
17,905
1,008
2,365
8,634
1,162
30,638
12,602
6,684
5,918
18,036
910
2,431
8,680
1,181
33,121
13,208
7,486
5,722
19,913
1,218
2,995
9,061
1,254
34,984
13,148
7,241
5,907
21,836
1,609
3,098
9,970
1,221
36,542
14,353
7,964
6,389
22,189
1,043
3,316
10,319
1,243
28,728
11,768
6,529
5,240
16,960
1,085
2,133
8,333
1,192
29,087
11,870
6,593
5,276
17,217
1,097
2,115
8,600
1,135
30,841
12,789
6,743
6,046
18,052
1,155
2,365
8,634
1,162
31,111
12,807
6,889
5,918
18,304
1,178
2,431
8,680
1,181
32,975
13,086
7,364
5,722
19,889
1,194
2,995
9,061
1,254
34,870
13,443
7,536
5,907
21,427
1,199
3,098
9,970
1,221
36,328
13,974
7,585
6,389
22,354
1,208
3,316
10,319
1,243
15,845
1,441
21,215
1,210
3,866
351
3,883
388
4,423
314
4,532
302
5,109
276
5,635
304
5,939
328
3,866
351
3,883
388
4,423
314
4,532
302
5,109
276
5,635
304
5,939
328
49 Premiums received 4................................................
50 Actual losses p aid .....................................................
23,252
10,928
22,781
11,302
5,937
2,780
5,415
2,558
5,905
2,486
5,490
2,556
5,400
2,712
5,768
2,911
6,122
3,123
5,937
2,780
5,415
2,558
5,905
2,486
5,490
2,556
5,400
2,712
5,768
2,911
6,122
3,123
51 Premiums paid 4........................................................
52 Actual losses recovered...........................................
65,280
29,324
70,642
31,653
16,348
7,246
16,522
7,436
16,270
7,601
16,078
7,738
16,871
7,860
18,538
7,973
19,154
8,083
16,348
7,246
16,522
7,436
16,270
7,601
16,078
7,738
16,871
7,860
18,538
7,973
19,154
8,083
48
Supplemental detail on insurance
transactions:
Memoranda:
53 Balance on goods (table 1, line 72)........................ -838,271 -815,370 -209,750 -231,671 -203,627 -185,752 -201,693 -214,918 -213,007 -211,276 -218,899 -200,339 -201,712 -205,059 -200,547 -208,051
54 Balance on private services (line 1 minus line 25)
96,558 126,931
23,478
33,037
18,219
29,953
30,448
25,655
37,563
22,977
24,208
27,414
27,477
30,459
33,265
35,958
55 Balance on goods and private services (lines 53
and 5 4 )................................................................... -741,714 -688,439 -191,531 -208,193 -173,674 -155,304 -176,037 -181,653 -175,444 -188,299 -194,691 -172,925 -174,235 -174,600 -167,510 -172,093
p Preliminary
r Revised
1. Includes royalties, license fees, and other fees associated with the use of intangible assets, including patents, trade
secrets, and other proprietary rights, that are used in connection with the production of goods.
2. Includes royalties, license fees, and other fees associated with the use of copyrights, trademarks, franchises, rights
to broadcast live events, software iicensing fees, and other intangible property rights.
3. Other unaffiliated services receipts (exports) include mainly film and television tape rentals and expenditures of
foreign residents temporarily working in the United States. Payments (imports) include mainly expenditures of U.S. resi
dents temporarily working abroad and film and television tape rentals.
4. These reflect the amount of premiums explicitly charged by, or paid to, insurers and reinsurers.
D-64
June 2008
G . In v e s tm e n t T a b le s
Table G.1. International Investment Position of the United States at Yearend, 2005 and 2006
[Millions of dollars]
Changes in position in 2006
Attributable to
Line
Type of investment
Valuation adjustments
Position, 2005r
Financial flows
Price changes
(a)
(b)
Total
Position, 2006p
Exchange-rate
Other changes2
changes1
(a+b+c+d)
(d)
(c)
Net international investm ent position o f the United States (lines 2 + 3 )............................
Financial derivatives, net (line 5 less line 25) 3........................................................................
Net international investment position, excluding financial derivatives (line 6 less line 26).
-2,238,359
-833,183
347.585
220.653
-36,325
-301,270
-2,539,629
57,915
-2,296,274
-28,762
-804,421
(4)
347.585
(4)
220.653
429,782
-66,107
1,020
-302,290
58,935
-2,598,564
U.S.-owned assets abroad (lines 5+6)..................................................................................
Financial derivatives, gross positive fair value....................................................................
U.S.-owned assets abroad, excluding financial derivatives (lines 7+12+17)...................
U.S. official reserve assets......................................................................................................
G old ................................
Special drawing rights...
Reserve position in the International Monetary Fund....................................................
Foreign currencies..............................................................................................................
U.S. Government assets, other than official reserve assets..............................................
U.S. credits and other long-term assets 7........................................................................
Repayable in d ollars......................................................................................................
O th e r8..............................................................................................................................
U.S. foreign currency holdings and U.S. short-term assets..........................................
U.S. private assets.........................
Direct investment at current c o s t......................................................................................
Foreign securities.......................
Bonds......................................
Corporate stocks.............................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns...........
U.S. claims reported by U.S. banks, not included elsewhere........................................
11,576,336
(3)
(3)
1,055,176
-2,374
0
223
-3,331
734
-5,346
-5,337
-5,337
0
-9
1,062,896
235.358
289,422
150,884
138,538
83,531
454,585
(3)
(3)
675,909
31,123
5 31,123
(3)
(3)
268,603
3,092
2,178,654
13.754.990
437
335
2,320
(3)
(3)
131,431
-31
6-31
0
0
0
265,511
39,188
198,181
13,727
184,454
13,075
15,067
131,450
-124
0
0
0
17,824
113,750
47,535
2,131,119
31,810
31,092
660
-2,996
3,054
-5,334
-5,325
-5,325
0
-9
2,104,643
320,431
1,086,380
152,579
933,801
114,430
583,402
1,237,564
12,517,426
219,853
165,267
8,870
5,040
40,676
72,189
71,635
71,362
273
554
12,225,384
2,855,619
5,432,264
1,180,758
4,251,506
848,464
3,089,037
Foreign-owned assets in the United States (lines 25+26).................................................
Financial derivatives, gross negative fair value........................................................................
Foreign-owned assets in the Unites States, excluding financial derivatives (lines 27+34).
Foreign official assets in the United States...............................................................................
U.S. Government securities....................................................................................................
U.S. Treasury securities....
Other......................................................................................................................................
Other U.S. Government liabilities 9........................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere.........................................
Other foreign official a ssets....................................................................................................
Other foreign assets....................
Direct investment at current c o s t...........................................................................................
U.S. Treasury securities..........................................................................................................
U.S. securities other than U.S. Treasury securities.............................................................
Corporate and other bonds................................................................................................
Corporate stocks................
U.S. currency............................................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.............
U.S. liabilities reported by U.S. banks, not included elsewhere.........................................
13,814,695
(3)
(3)
197,538
2,769
7,332
-411
7,743
0
-22,000
17,437
194,769
14,190
-4,386
-26,054
-15,789
-10,265
0
-62,849
273,868
2,479,924
16,294,619
46,515
2,433,409
463,873
379,503
180,170
199,333
3,133
40
81,197
1,969,536
231,181
-49,550
875,538
446,681
428,857
12,571
182,525
717,271
1,178,629
15.115.990
2,770,165
2,104,696
1,520,768
583,928
18,999
296,687
349,783
12,345,825
2,099,426
594,243
5,228,536
2,689,816
2,538,720
364,277
740,365
3,318,978
-1,221
9,387
807,578
416,450
4,377,830
3,222,479
1,190,029
10,386,307
188,043
134,175
8,210
8,036
37,622
77,523
76,960
76,687
273
563
10,120,741
2,535,188
4,345,884
1,028,179
3,317,705
734,034
2,505,635
1,132,114
12,682,581
2,306,292
1,725,193
1,340,598
384,595
15,866
296,647
268,586
10,376,289
1,868,245
643,793
4,352,998
2,243,135
2,109,863
351,706
557,840
2,601,707
(3)
(3)
1,859,597
440,264
380,734
189,181
191,553
3,133
22,040
34,357
1,419,333
180.580
-35,931
591,951
449,194
142,757
12,571
235,769
434,393
3,570,252
2,806,029
235.358
180.580
M emoranda:
Direct investment abroad at market value..........................................................................................
Direct investment in the United States at market value....................................................................
p Preliminary
r Revised
1. Represents gains or losses on foreign-currency-denominated assets and liabilities due to their revaluation at
current exchange rates.
2. Includes changes in coverage, capital gains and losses of direct investment affiliates, and other adjustments
to the value of assets and liabilities.
3. Financial flows and valuation adjustments for financial derivatives are available only on a net basis, which is
shown on line 2; they are not separately available for gross positive fair values and gross negative fair values of
financial derivatives. Consequently, columns (a) through (d) on lines 4,5, and 24,25 are not available.
4. Data are not separately available for the three types of valuation adjustments; therefore, the sum of all three
types is shown in column (d). Price changes result from changes in the value of derivatives contracts due to
changes in the value of their underlying assets or reference rates, which may arise from movements in interest
rates, stock prices, commodity prices, or other variables. Exchange-rate changes result from the revaluation of
foreign-currency-denominated derivatives contracts at current exchange rates. “Other changes” can result when
644,786
46,009
598,777
-12,032
610,809
(3)
328,324
20,840
-8,563
-8,600
37
29,403
307,484
32,495
-9,233
284,222
-12,143
296,365
47,950
47,950
3,916
25.419
25.419
9,605
9,010
393,709
226,483
179,732
12
12
12
data on investment positions that had accumulated in prior periods are covered by a new or more complete
survey.
5. Reflects changes in the value of the official gold stock due to fluctuations in the market price of gold.
6. Reflects changes in gold stock from U.S. Treasury sales of gold medallions and commemorative and bullion
coins; also reflects replenishment through open market purchases. These demonetizations/monetizations are not
included in international transactions financial flows.
7. Also includes paid-in capital subscriptions to international financial institutions and outstanding amounts of
miscellaneous claims that have been settled through international agreements to be payable to the U.S. Govern
ment over periods in excess of 1 year. Excludes World War I debts that are not being serviced.
8. Includes indebtedness that the borrower may contractually, or at its option, repay with its currency, with a
third country’s currency, or by delivery of materials or transfer of services.
9. Primarily U.S. Government liabilities associated with military sales contracts and other transactions
arranged with or through foreign official agencies.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-65
Table G.2. U.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 2003-2006
[Millions of dollars]
Direct investment position
on a historical-cost basis
All countries, all industries..................................................
Income without current-cost
adjustm ent1
Capital outflows without current-cost
adjustment (inflows (-))
2005
2006
2003
2004
2005
2006
257,967
-27,736
216,614
165,203
216,773
247,472
291,480
17,340
87,509
23,865
120,382
11,023
-55,068
14,793
127,375
15,826
86,480
22,771
108,494
22,745
122,538
23,442
146,608
65,933
99,253
83,615
215,715
90,085
364,084
403,284
1,074
4,376
7,408
15,502
14,462
26,738
3,901
7,820
9,432
8,336
26,489
9,468
29,755
22,915
-579
6,047
-3,174
-38,515
-12,290
3,114
-1,489
4,886
8,275
13,264
32,896
10,441
19,382
22,273
4,034
4,584
9,134
16,595
12,643
13,829
24,480
4,817
6,200
14,142
28,813
12,359
14,423
34,423
4,658
6,654
16,950
29,672
12,184
18,533
41,306
7,209
8,906
18,122
32,239
11,241
25,080
50,436
103,454
29,619
75,106
79,728
23,018
22,631
380,523
108,462
32,601
84,699
80,604
25,556
26,487
431,718
-3,778
-290
3,664
3,314
2,697
1,315
16,592
2,856
1,837
7,712
7,927
1,317
1,610
87,878
-5,137
1,147
7,385
-11,208
1,025
3,769
13,003
5,685
1,166
10,645
-4,635
2,176
4,956
45,041
7,089
1,465
5,343
5,388
3,156
2,640
32,621
8,944
2,520
7,381
6,316
4,517
4,268
42,299
9,729
3,683
8,458
7,321
4,748
5,042
51,092
11,260
5,973
9,391
8,837
5,493
6,274
59,227
(D)
27,847
69,076
60,773
115,623
32,577
79,280
54,500
122,587
38,118
91,769
60,417
7,717
-689
867
5,446
(D)
(D)
11,974
(D)
(D)
3,556
6,998
-9,625
6,460
4,817
12,241
5,363
3,406
3,718
8,103
5,987
4,871
4,625
9,490
8,709
5,819
5,202
10,861
11,586
7,601
6,105
10,235
12,853
102,384
414,687
28,743
107,090
25,308
22,620
55,568
11,500
50,913
112,945
128,276
63,171
57,094
433,510
44,352
723,297
158,004
115,956
449,202
30,540
116,075
23,441
27,330
62,074
13,837
48,968
126,937
139,444
65,439
65,798
452,726
48,834
620,765
177,327
136,145
503,495
32,517
129,778
23,220
32,172
76,660
15,765
55,526
137,858
164,290
74,368
67,550
484,840
57,429
710,336
185,549
3,930
31,207
3,420
6,983
-306
3,200
2,217
311
2,961
12,422
12,239
3,918
1,255
19,912
3,156
50,437
3,298
16,242
58,028
1,847
14,378
4,021
3,734
5,986
851
3,407
23,806
14,744
-2,182
-3,155
41,315
8,674
113,677
10,624
12,518
36,638
2,041
6,364
-850
2,909
7,718
1,880
-974
17,550
15,518
5,338
-4,168
15,745
6,546
-132,169
16,299
15,419
60,022
2,981
13,577
3,690
3,825
18,428
1,467
4,555
11,499
22,703
4,797
-4,214
24,847
6,813
73,929
12,929
11,189
34,594
3,631
9,921
1,710
2,314
4,345
583
2,152
9,937
18,440
6,221
2,268
19,623
3,250
59,248
10,370
17,775
46,209
3,815
12,704
2,445
2,520
6,745
993
4,048
12,938
23,716
8,475
806
25,957
5,326
72,104
16,404
24,108
48,422
3,684
14,295
2,270
2,827
8,430
1,229
1,677
14,010
25,701
10,467
213
29,778
5,978
85,602
17,203
31,543
59,243
3,773
16,144
2,619
3,821
11,992
1,462
4,304
15,128
29,271
11,069
-826
32,617
7,542
100,387
20,633
2003
2004
2005
2006
2003
1,769,613
2,124,775
2,135,492
2,384,004
129,352
187,953
976,889
213,012
1,169,620
233,474
1,109,950
246,451
1,250,508
51,229
72,262
60,604
186,366
92,750
277,246
297,222
61,362
77,731
81,987
218,906
109,481
330,897
341,480
60,127
90,574
71,255
184,614
81,048
333,497
365,895
84,508
29,553
56,851
61,882
19,835
16,885
270,830
99,016
28,574
66,428
75,710
21,708
19,088
359,866
48,447
36,426
57,794
51,053
85,473
371,078
27,692
91,435
21,349
20,825
47,171
10,774
47,903
103,929
119,891
46,728
58,695
316,847
35,832
598,964
136,106
2004
By country of foreign affiliate
Canada........................................................................................................
Europe.........................................................................................................
Of which:
France................................................................................................
Germany.............................................................................................
Ireland................................................................................................
Netherlands........................................................................................
Switzerland.........................................................................................
United Kingdom.................................................................................
Latin America and Other Western Hemisphere.....................................
Of which:
Bermuda.............................................................................................
B razil...................................................................................................
M exico...............................................
United Kingdom Islands, Caribbean
A frica..........................................................
Middle East................................................
Asia and Pacific..........................................................................................
Of which:
Australia..............................................................................................
Hong Kong..........................................................................................
Japan
Singapore...........................................................................................
By industry of foreign affiliate
Mining..........................................................................................................
Manufacturing.............................................................................................
Food........................................................................................................
Chemicals..................................
Primary and fabricated metals.
Machinery...............................................................................................
Computers and electronic products....................................................
Electrical equipment, appliances, and components.........................
Transportation equipment.....................................................................
Other manufacturing....
Wholesale trade...............
Information........................
Depository institutions...............................................................................
Finance (except depository institutions) and insurance........................
Professional, scientific, and technical services......................................
Holding companies (nonbank)..................................................................
Other industries..........................................................................................
D Suppressed to avoid disclosure of data of individual companies.
1. For 2003-2005, income without current-cost adjustment is presented net, or after deduction, of U.S. and
foreign withholding taxes. For 2006, it is presented gross, or before deduction, of U.S. and foreign withholding
taxes.
In 2006, income without current-cost adjustment and net of withholding taxes was $290,291 million.
N ote. The data in this table are from tables 16 and 17 in “U.S. Direct Investment Abroad: Detail for HistoricalCost Position and Related Capital and Income Flows, 2006" in the September 2007 S urvey of C urrent B usiness .
D -66
International Data
June 2008
Table G.3. Selected Financial and Operating Data of Nonbank Foreign Affiliates of U.S. Companies by Country and by Industry of Affiliate, 2005
All nonbank foreign affiliates
Majority-owned nonbank foreign affiliates
Millions of dollars
Millions of dollars
All countries, all Industries..................................
Total
assets
Sales
9,951,716
4,224,685
Net
income
U.S.
exports of
goods
shipped to
affiliates
549,750
218,208
Thousands
U.S.
of
imports of
employees
goods
shipped by
affiliates
289,190
10,333.3
Total
assets
9,265,024
Sales
3,693,759
Net
income
506,166
Value
added
U.S.
exports of
goods
shipped to
affiliates
Thousands
U.S.
of
imports of
employees
goods
shipped by
affiliates
882,099
210,240
261,522
8,955.8
By country of affiliate
Canada.......................................................................................
695,945
497,863
45,743
66,382
(D)
1,106.8
682,844
478,595
44,712
106,248
65,088
92,936
1,079.1
Europe........................................................................................
Of which:
France...............................................................................
Germany............................................................................
Netherlands......................................................................
United Kingdom................................................................
6,227,425
2,109,816
300,533
52,608
61,545
4,305.8
5,916,726
1,920,132
285,731
483,156
51,195
60,753
3,909.9
274,502
441,677
868,391
2,377,908
193,469
308,038
195,484
530,928
9,520
11,217
74,058
37,013
(D)
6,409
(D)
6,179
6,284
4,052
12,676
(D)
619.9
631.5
214.6
1,251.9
256,046
403,218
823,560
2,336,426
183,275
272,321
157,784
503,123
9,056
9,607
71,118
35,134
49,280
75,662
26,588
136,274
4,383
6,308
8,115
12,618
5,979
6,182
3,891
12,397
584.1
590.0
184.3
1,160.6
Latin America and Other Western Hemisphere....................
O f which:
B razil.................................................................................
Mexico...............................................................................
1,336,285
480,545
95,678
48,153
61,479
2,035.9
1,197,494
408,627
85,200
86,556
45,898
57,637
1,689.7
104,391
154,440
93,238
162,495
4,111
10,985
3,789
38,114
46,560
(D)
429.8
1,036.5
91,314
121,312
82,824
129,560
3,335
7,920
18,950
24,969
3,485
36,418
2,648
44,026
393.3
838.4
A frica..........................................................................................
110,290
65,887
10,226
1,662
(D)
179.0
100,187
60,079
9,252
26,009
1,541
3,136
154.0
Middle East................................................................................
82,371
58,350
11,365
1,671
(D)
102.3
41,662
24,627
4,785
9,061
1,577
1,774
59.8
Asia and Pacific........................................................................
Of which:
Australia.............................................................................
China.................................................................................
India...................................................................................
Japan.................................................................................
1,499,401
1,012,225
86,206
47,732
60,423
2,603.6
1,326,110
801,699
76,487
171,068
44,941
45,288
2,063.4
208,775
71,161
24,750
574,655
108,780
86,457
17,725
322,380
12,957
7,905
1,071
14,932
4,332
3,859
571
12,995
1,960
4,116
14,754
321.1
546.9
196.7
554.8
199,560
62,110
20,718
478,435
92,076
72,043
15,295
204,392
12,403
6,816
905
11,070
31,743
14,608
4,220
47,855
4,262
3,095
544
11,910
1,957
3,641
457
2,308
283.9
489.6
179.1
242.0
Mining.........................................................................................
445,660
196,925
50,198
(D)
(D)
188.2
387,186
167,151
43,514
109,525
1,739
16,059
171.1
Utilities........................................................................................
103,991
69,937
3,773
(D)
(D)
64.7
77,665
40,453
2,648
10,764
(D)
(D)
49.7
Manufacturing............................................................................
Of which:
Food..................................................................................
Chemicals.........................................................................
Primary and fabricated m etals......................................
Machinery..........................................................................
Computers and electronic products...............................
Electrical equipment, appliances, and components....
Transportation equipment...............................................
1,673,898
1,985,797
110,964
145,071
227,223
5,071.9
1,437,570
1,708,791
93,878
429,254
138,787
200,844
4,397.3
106,885
436,841
71,434
92,316
188,274
45,909
287,231
129,848
357,259
59,218
106,980
265,093
45,268
459,185
7,123
36,193
3,394
5,704
14,210
1,470
4,997
3,675
21,630
3,098
7,971
27,923
3,257
59,791
(D)
106,571
412.4
628.7
234.2
418.5
691.7
282.7
1,091.0
99,722
389,063
68,652
79,145
174,865
42,430
224,673
118,689
320,325
55,593
90,696
259,674
41,370
362,240
6,552
31,141
3,246
4,912
14,650
1,331
1,740
26,030
84,382
15,904
23,166
40,937
10,973
57,071
3,291
20,878
3,002
7,430
27,827
3,237
57,135
4,267
16,493
4,100
10,382
43,965
4,412
86,753
378.4
573.8
226.8
357.3
655.2
251.0
936.9
Wholesale trade........................................................................
571,167
978,989
37,764
57,026
39,298
781.7
548,245
941,586
36,438
119,251
56,020
39,247
730.5
Information.................................................................................
282,795
185,123
16,486
(D)
(D)
443.2
174,755
117,128
8,581
37,626
729
140
322.9
Finance (except depository institutions) and insurance.......
3,690,898
278,923
46,386
20
16
303.2
3,619,707
262,219
44,784
32,434
20
16
270.7
Professional, scientific, and technical services.....................
197,015
123,992
11,643
3,051
2,048
561.7
193,807
120,521
11,513
52,959
3,051
2,048
543.8
Other industries........................................................................
2,986,292
404,999
272,536
10,254
(D)
2,918.5
2,826,089
335,909
264,810
90,286
(D)
(D)
2,469.9
(D)
By industry of affiliate
D Suppressed to avoid disclosure of data of individual companies.
N ote . The data in this table are from “Operations of U.S. Multinational Companies in 2005" in the November 2007
17,992
4,153
11,798
44,039
(D)
S urvey of C urrent B usiness.
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-67
Table G.4. Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parent and by Industry of U.S. Affiliate, 2003-2006
[M illions of dollars]
Direct investment position
on a historical-cost basis
All countries, all industries.................................................................
Income without current-cost
adjustm ent1
Capital inflows without current-cost
adjustment (outflows (-))
2003
2004
2005
2006
2004
2005
2006
1,395,159
1,520,316
1,594,488
1,789,087
53,146
135,826
101,025
175,394
60,964
95,707
1,001,237
125,276
1,078,782
154,180
1,128,161
158,979
1,270,570
7,090
22,756
33,164
80,730
13,762
76,656
6,570
122,183
136,434
160,691
109,212
146,601
124,247
217,841
84,134
137,927
164,921
116,479
159,601
122,165
267,209
76,268
120,272
180,339
116,729
165,366
131,342
296,277
70,789
158,830
202,581
130,925
189,293
140,259
303,232
79,845
4,526
12,280
14,344
6,365
-3,127
-4,385
9,186
10,706
7,079
7,301
8,191
12,571
28,137
-2,945
5,291
14,622
2,402
5,756
4,137
34,323
-2,908
9,854
9,022
8,874
26,202
4,349
2,196
7,177
204,708
6,626
7,592
10,408
21,702
5,009
1,859
7,899
230,231
-471
3,806
11,109
23,932
5,304
2,734
8,396
230,228
2,757
6,075
12,994
24,572
7,246
2,244
17,639
259,810
-3,470
2,173
2,664
3,757
-86
-34
393
13,755
-597
-629
1,403
-3,936
624
-605
713
24,769
37,059
157,176
40,107
174,490
22,411
188,687
25,727
210,996
3,422
8,544
465,401
17,433
127,776
17,049
43,887
42,652
12,220
63,201
141,184
187,883
25,672
135,841
85,195
182,951
36,702
38,280
237,236
475,214
17,774
140,338
20,351
44,802
29,186
10,668
67,975
144,121
218,443
26,554
144,982
122,674
199,417
36,987
44,207
251,836
513,609
20,217
147,999
26,363
49,550
33,250
11,817
74,832
149,582
242,174
30,101
110,639
130,676
215,782
38,609
52,578
260,320
593,759
23,874
183,127
34,238
59,889
54,713
14,731
69,243
153,946
252,028
32,898
125,963
148,981
257,677
43,295
62,262
272,225
18,235
1,749
8,757
508
2,137
2,408
-1,914
2,968
1,622
-5,339
3,957
1,380
4,168
19,460
-3,561
1,974
12,873
2003
2005
2006
87,890
106,340
130,824
2,306
48,711
6,607
61,377
5,891
78,338
12,425
88,922
28,141
31,003
11,109
17,029
1,536
11,468
9,302
6,526
2,183
683
8,840
6,928
17,610
1,305
8,401
7,557
1,188
12,553
7,023
18,641
2,988
12,111
6,941
1,350
16,302
3,172
30,473
3,937
13,022
9,131
2,480
22,663
2,881
27,812
6,262
-7,157
142
967
657
320
524
1,508
11,482
2,550
2,387
1,710
-55
489
287
10,271
26,781
-1,205
616
1,081
1,027
425
-8
154
8,496
-373
17
(D)
197
(D)
177
488
16,253
-643
(D)
1,174
474
(D)
204
597
17,373
494
715
1,830
744
777
248
1,376
21,591
3,099
17,489
-6,022
13,889
1,658
21,282
1,178
7,346
2,446
12,774
3,465
12,160
2.998
17,065
21,005
2,193
11,874
1,976
492
-2,689
22
2,904
4,233
26,613
579
15,487
17,902
31,602
2,580
5,850
14,208
52,911
2,265
15,528
6,488
5,072
7,930
1,589
6,857
7,181
15,673
2,293
-11,412
9,839
6,901
1,719
9,611
13,490
65,804
3,855
25,985
8,161
10,742
12,989
2,258
-2,083
3,897
21,011
3,589
11,850
15,408
30,959
4,091
8,220
14,462
23,736
912
9,072
471
70
725
-531
4,143
8,874
18,170
922
1,381
2,156
6,962
1,411
321
5,905
34,375
677
9,067
2,780
1,110
160
610
4,786
15,184
24,517
2,043
4,608
4,698
6,249
1,879
1,223
8,298
46,871
1,952
16,489
2,731
2,579
1,876
853
4,438
15,953
25,959
2,501
2,936
4,410
4,906
2,374
1,288
15,095
54,319
2,155
16,414
5,533
3,371
2,828
996
3,916
19,106
28,218
3,338
3,407
7,762
10,839
3,004
3,014
16,924
2003
2004
By country of foreign parent
Canada....................................................................................................................
Europe.....................................................................................................................
Of which:
France............................................................................................................
Germany.........................................................................................................
Luxembourg....................................................................................................
Netherlands....................................................................................................
Switzerland.....................................................................................................
United Kingdom.............................................................................................
Latin America and Other Western Hemisphere.................................................
O f which:
Bermuda.........................................................................................................
Mexico............................................................................................................
Panama.................................
United Kingdom Islands, Caribbean...........................................................
Venezuela..............................
Africa..............................................
Middle East..............................................................................................................
Asia and Pacific......................................................................................................
Of which:
Australia..........................................................................................................
Japan...............................................................................................................
By industry of U.S. affiliate
Manufacturing.........................................................................................................
Food....................................................................................................................
Chemicals...........................................................................................................
Primary and fabricated metals.........................................................................
Machinery...........................................................................................................
Computers and electronic products................................................................
Electrical equipment, appliances, and components.....................................
Transportation equipment.................................................................................
Other manufacturing..........................................................................................
Wholesale trade......................................................................................................
Retail trade..............................................................................................................
Information...............................................................................................................
Depository institutions (banking).........................................................................
Finance (except depository institutions) and insurance....................................
Real estate and rental and leasing......................................................................
Professional, scientific, and technical services..................................................
Other industries......................................................................................................
D Suppressed to avoid disclosure of data of individual companies.
1. For 2003-2005, income without current-cost adjustment is presented net, or after deduction, of U.S. and
foreign withholding taxes. For 2006, it is presented gross, or before deduction, of U.S. and foreign withholding
taxes.
In 2006, income without current-cost adjustment and net of withholding taxes was $128,405 million.
Note. The data in this table are from tables 16 and 17 in “Foreign Direct Investment in the United States:
Detail for Historical-Cost Position and Related Capital and Income Flows, 2006” in the September 2007 Survey of
C urrent Business.
D-68
International Data
June 2008
Table G.5. Selected Financial and Operating Data of Nonbank U.S. Affiliates of Foreign Companies
by Country of Ultimate Beneficial Owner and by Industry of Affiliate, 2005
All nonbank affiliates
Millions of dollars
Total
assets
All countries, all industries...............................................................
Sales
Majority-owned nonbank affiliates
Millions of dollars
Net
income
Thousands
U.S.
U.S.
of
exports of imports of
employees
goods
goods
shipped by shipped to
affiliates affiliates
Millions of dollars
Total
assets
Sales
Net
income
Millions of dollars
Value
added
Thousands
U.S.
U.S.
of
exports of imports of
employees goods
goods
shipped by shipped to
affiliates affiliates
6,849,777 2,755,941
110,835
5,530.1
180,782
467,595 5,883,782 2,495,380
80,882
539,869
5,085.7
169,238
452,968
Canada..................................................................................................................
454,953
176,018
Europe................................................................................................................... 4,623,490 1,594,964
O f which:
France..........................................................................................................
633,575
195,819
Germany.......................................................................................................
636,072
351,487
Netherlands..................................................................................................
665,954 276,005
Sweden...
36,941
47,825
155,964
Switzerland................................................................................................... 1,231,075
United Kingdom........................................................................................... 1,154,744 424,153
Latin America and Other Western Hemisphere...............................................
191,837
334,936
Of which:
196,133
67,832
Bermuda.......................................................................................................
Mexico..........................................................................................................
29,872
22,229
United Kingdom Islands-Caribbean........................................................
74,053
17,069
Venezuela.....................................................................................................
12,518
(D)
A frica.....................................................................................................................
5,803
6,489
Middle East............................................................................................................
59,428
(D)
Asia and Pacific....................................................................................................
704,850
624,601
Of which:
Australia........................................................................................................
81,423
26,370
Japan.............................................................................................................
569,660
509,226
Korea, Republic o f.......................................................................................
19,368
46,321
684,297
United States........................................................................................................
102,605
7,267
67,981
435.5
3,689.7
8,304
96,876
26,047
425,138
164,817
184,891 4,432,035 1,499,619
6,210
54,336
43,063
350,615
376.9
3,517.1
8,014
92,658
25,826
182,888
12,878
6,025
11,388
1,781
5,407
26,526
5,655
485.2
672.1
467.5
196.6
410.5
995.2
390.8
12,047
35,582
10,995
4,043
6,862
18,404
184,743
343,293
259,291
47,818
149,589
375,239
167,245
10,011
5,555
8,371
1,785
5,721
19,008
4,711
48,465
66,479
43,729
12,670
36,732
109,862
40,812
473.1
654.9
441.8
196.6
388.9
907.8
323.2
11,580
33,894
10,642
4,043
6,344
17,732
11,989
18,058
65,245
27,066
7,208
13,404
30,116
30,721
1,714
448
804
8,773
948
103
319
518
3,443
3,741
1,319
169,241
17,089
72,598
65,428
21,477
15,341
1,493
357
801
19,683
4,532
3,151
3,434
(D)
(D)
(D)
(D)
(D)
315
(D)
(D)
60,132
203,676
4,299
37,477
667,079
6,322
57,003
578,603
-25
1,906
12,285
1,048
10,414
85,985
181.8
56.3
27.3
H
8.7
50.4
755.3
8,751
893
103
22
2,125
14,528
186.2
115.7
28.3
6.0
8.9
57.1
834.1
501
559
53,298
1,406
13,083
-138
13,256
51.3
674.8
16.6
113.9
2,529
47,592
7,296
2,275
2,411
160,218
33,441
3,808
74,894
544,356
18,611
28,473
22,775
472,361
45,022
21,771
1,358
10,956
-166
1,459
7,326
70,337
1,969
7,932
49.5
613.6
15.4
54.1
884
42,653
7,256
2,220
1,595
154,753
33,054
35,742
2,106.6
107,544
172,513 1,095,936 1,001,845
30,796
242,355
1,986.6
97,333
160,323
1,569
12,437
2,333
2,860
-3,363
321
3,419
28,101
1,478
8,708
137.1
304.7
182.8
213.5
150.7
71.3
404.0
580.7
602.0
291.6
7,079
21,474
7,186
8,434
13,605
2,601
29,510
66,621
177
1,440
2,911
26,879
9,446
9,323
15,297
2,576
61,078
282,149
4,819
6,920
18,438
5,169
8,320
2,876
25,889
8,048
8,461
14,405
2,556
58,815
279,847
4,721
1,392
5,033
20,851
3,475
4
12,476
117.4
95.3
267.5
59.3
205.3
1,417.0
1,037
216
(D)
(D)
0
1
568
By country of ultimate beneficial owner
(D)
(D)
18,616
627,425
65,512
627,624
27,169 622,797
7,208
36,918
13,499 1,208,918
30,614 1,050,847
35,947
289,281
(D)
(D)
(D)
(D)
311
(D)
196,642
(D)
By industry of U.S. affiliate
Manufacturing....................................................................................................... 1,173,300 1,082,778
Of which:
Food..............................................................................................................
92,914
72,023
Chemicals........................
256,509
198,129
Primary and fabricated m etals..................................................................
66,123
79,459
Machinery........................
90,062
72,598
61,972
Computers and electronic products..........................................................
61,266
20,717
Electrical equipment, appliances, and components...............................
21,515
Transportation equipment...........................................................................
259,272
247,682
809,198
Wholesale trade.......................
526,069
Retail trade...............................
138,950
70,431
Information.............................................................................................................
339,442
124,740
Of which:
Publishing industries..................................................................................
72,581
31,789
Telecommunications....................................................................................
143,608
54,431
Finance (except depository institutions) and insurance.................................. 3,986,856
268,172
Real estate and rental and leasing....................................................................
132,191
31,461
Professional, scientific, and technical services................................................
91,207
56,733
Other industries....................................................................................................
530,280
243,910
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
Notes . The data in this table are from BEA’s annual survey of the operations of U.S. affiliates of foreign
companies; see “U.S. Affiliates of Foreign Companies; Operations in 2005” in the August 2007 S urvey of C urrent
B usiness .
(D)
(D)
4,303
(D)
(D)
6,599
91,523
233,534
58,990
88,808
55,176
21,394
254,736
519,722
64,097
208,519
69,213
182,227
68,014
69,722
57,621
20,566
235,015
791,488
128,959
77,078
1,526
10,249
1,856
2,821
-3,157
327
3,147
26,383
1,355
1,423
14,923
50,237
18,650
20,788
14,234
5,692
36,746
98,271
28,953
28,162
130.8
276.6
173.2
209.6
143.2
70.8
387.9
567.8
531.1
211.9
60,326
66,254
3,313,319
98,663
87,830
495,696
28,945
20,799
191,610
25,708
54,172
224,519
1,460
-1,033
9,367
2,400
56
9,102
12,912
5,106
28,137
12,998
20,406
80,586
105.3
37.4
200.7
48.1
197.1
1,342.3
(D)
2,578
29,022
65,443
177
1,382
1,037
(*)
0
(D)
(D)
4,206
(D)
216
(D)
1
568
(D)
6,578
The following ranges are given in employment cells that are suppressed: A— 1 to 499; F— 500 to 999; G—
1,000 to 2,499; H -2 ,5 0 0 to 4,999; 1-5,000 to 9,999; J— 10,000 to 24,999; K -2 5 ,0 0 0 to 49,999; L-5 0 ,0 0 0 to
99,999; M— 100,000 or more.
June
D -6 9
2008
H. C harts
T H E U .S . IN T H E I N T E R N A T I O N A L E C O N O M Y
COMPONENTS OF CURRENT ACCOUNT BALANCE
BALANCE ON CURRENT ACCOUNT
Services
Income'
Unilateral transfers
Goods
EXPORTS AND IMPORTS OF GOODS AND SERVICES
CAPITAL FLOWS ON U.S. DIRECT
INVESTMENT ABROAD (OUTWARD)
AND FOREIGN DIRECT INVESTMENT
IN THE UNITED STATES (INWARD)
Inward
Outward
NET INTERNATIONAL INVESTMENT POSITION
VALUED AT CURRENT COST
SECURITIES TRANSACTIONS
Net foreign purchases of U.S. securities
Foreign assets in the United States
U.S. assets abroad
Net investment position
Net U.S. purchases of foreign securities
-40
85
I I I I I T"11...1 "I" I I I I I I I I I I I I 1
87
89
U .S . B u r e a u o f E c o n o m ic A n a ly s is
91
93
95
97
99
01
03
05
07
-4,000
i
85
i i i i i i I i i i i i i i i i i i i i r
87
89
91
93
95
97
99
01
03
05
07
D -70
June 2008
Regional Data
I. S tate and R egional Tables
T he tables in this section include the m ost recent estim ates o f state personal incom e and gross dom estic p ro d u ct by
state. The sources o f these estim ates are noted.
T he quarterly an d annual estim ates o f state personal incom e and the estim ates o f gross dom estic p ro d u ct by state
are available online at <www.bea.gov>. For inform ation on state personal incom e, e-m ail < reis.remd@ bea.gov>;
w rite to the Regional Econom ic Info rm atio n System, BE-55, Bureau o f Econom ic Analysis, U.S. D epartm ent o f C om
m erce, W ashington, D C 20230; or call 202-606-5360. For in form ation on gross dom estic p roduct by state, e-m ail
< gspread@ bea.gov>; w rite to the Regional Econom ic Analysis Division, BE-61, Bureau o f Econom ic Analysis, U.S.
D ep artm en t o f C om m erce, W ashington, D C 20230; or call 202-606-5340.
Table 1.1. Personal Income by State and Region
[Millions of dollars, seasonally adjusted at annual rates]
2004
2005
2006
Percent
change1
2007
Area
I
United States
New England........................
Connecticut..........................
Maine...................................
Massachusetts....................
New Hampshire...................
Rhode Island.......................
Vermont................................
Mideast..
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
2007: IH2007: IV
9,467,137 9,608 547 9,756,260 10,013,509 10,059,863 10,216,830 10,310,902 10,549,829 10,769,078 10,903,623 11,018,219 11,182,652 11,451,972 11,568,818 11,722,867 11,839,869
555,750 564 470 573,241
582,905
590,694
621,816
664,857
583,516
601,366
608,365
627,416
631,969
643,568
660,713
673,395
679,714
154,822
38,648
260,969
45,996
36,117
19,198
160,638
39,594
268,301
47,675
37,115
19,919
164,622
40,582
272,128
48,353
37,558
20,273
163,062
40,054
274,146
48,008
37,652
19,983
1,749,982 1,773 927 1,805,991
157 266
39 127
265 143
46 736
36 484
19 714
165,683
40,448
277,473
48,685
38,184
20,222
168,655
40,752
283,290
49,443
38,684
20,543
171,207
41,212
286,643
49,626
39,033
20,644
175,422
41,504
293,224
51,286
38,875
21,505
176,299
42,132
296,319
51,517
39,677
21,472
1.0
0.9
177,524
42,453
297,890
52,115
40,274
21,713
180,567
42,720
304,189
53,677
40,515
21,899
186,722
43,699
312,367
53,850
41,635
22,440
188,122
44,168
313,879
54,628
41,436
22,623
190,859
44,695
318,429
54,758
41,730
22,923
192,436
45,110
321,596
55,253
42,179
23,141
0.8
0.9
1.0
0.9
1.1
0.9
1,847,325
1,850,292
1,876,471
1,910,510
1,940,528
1,989,199
2,012,425
2,028,033
2,063,958
2,134,231
2,134,352
2,163,264
2,182,518
0.9
29,303
29,294
220,439
364,130
746,352
416,473
30,436
30,135
225,630
371,430
764,467
425,227
30,445
30,914
227,220
370,532
766,926
424,256
30,697
31,441
230,547
374,441
779,948
429,397
31,215
32,005
233,978
380,630
798,073
434,610
32,324
32,227
236,897
384,190
815,349
439,540
33,209
33,241
241,188
399,349
833,686
448,526
33,328
33,591
243,817
404,186
843,177
454,325
33,669
34,039
246,447
405,387
849,832
458,658
33,270
34,360
249,761
412,096
869,051
465,420
34,672
35,318
254,338
423,952
910,940
475,012
34,795
35,581
257,467
425,013
902,314
479,183
35,281
36,281
259,976
428,036
918,551
485,140
35,717
36,580
262,464
432,189
925,922
489,645
1.2
0.8
1.0
1.0
0.8
0.9
Great Lakes.......................... 1,445,623 1,464 502 1,483,848
1,513,450
1,513,117
1,529,030
1,544,803
1,556,463
1,586,149
1,604,262
1,616,321
1,630,394
1,667,010
1,676,993
1,693,965
1,708,994
0.9
467,057
194,517
332,153
367,684
183,392
471,391
196,170
333,509
371,419
183,973
482,690
200,768
337,701
375,872
189,117
488,713
202,612
341,408
381,000
190,529
492,239
204,383
342,979
384,323
192,397
499,377
206,244
343,258
386.654
194,860
510,458
210,511
350,286
396,246
199,508
515,848
212,351
350,993
397,469
200,333
520,779
214,235
354,890
401,134
202,928
525,895
216,111
357,337
404,738
204,914
1.0
0.9
0.7
0.9
1.0
681,546
Delaware.............................
District of Columbia.............
Maryland.............................
New Jersey.........................
New York.............................
Pennsylvania.......................
28,504
28,474
215,664
353,835
719,578
403,927
29 081
28 910
218 775
357 892
729 477
409 793
436,076
181,790
313,210
343,923
170,624
440 980
185 086
316 016
349 447
172 973
446,759
187,256
320,052
353,853
175,927
456,790
190,708
325,666
361,190
179,097
456,834
190,012
326,321
360,753
179,198
617,977
623 292
632,605
649,038
645,678
653,704
663,046
668,974
690,367
704,511
720,560
732,329
741,708
750,053
1.1
93,261
86,772
189,495
178,742
56,979
19,292
24,498
91,318
87,775
187,971
178,115
56,453
19,871
24,175
92,831
89,077
188,932
180,799
57,344
20,188
24,533
93,999
90,605
192,042
183,122
58,086
20,367
24,825
94,669
91,247
193,139
185,518
58,826
20,645
24,929
96,837
93,673
197,559
188,470
59,717
20,427
24,863
694,402
90,466
85,380
184,260
174,556
55.508
18,579
23,855
97,820
95,142
199,915
190,830
60,696
20,882
25,082
98,336
96,248
201,029
191,867
60,659
20,916
25,347
99,839
98,539
202,699
194,486
61,905
21,317
25,726
102,178
100,256
208,771
198,293
62,982
21,747
26,333
103,947
101,610
212,835
200,690
64,200
22,263
26,784
105,625
102,532
214,629
203,761
65,440
22,474
27,247
106,852
103,878
216,892
205,868
66,262
22,681
27,620
1.2
1.3
1.1
1.0
1.3
0.9
1.4
Southeast............................. 2,126,726 2,161 701 2,194,449
2,252,177
2,279,576
2,320,568
2,276,489
2,405,562
2,535,666
2,590,220
2,625,695
2,659,383
2,685,860
1.0
148,846
84,567
695,467
319,089
131,547
150,206
84,032
302,618
135,804
203,910
316,513
53,097
151,070
86,049
706,740
320,502
132,581
151,540
85,517
306,410
137,734
206,463
320,944
53,834
152.618
87,015
714,700
323,916
133,943
152,867
86,087
309,890
139,107
207,616
323,745
54,354
1.0
1.1
1.1
1.1
1.0
0.9
0.7
1.1
1.0
0.6
0.9
1.0
1,295,810
1,311,005
1.2
212,493
63,266
126,441
908,805
0.8
1.0
1.0
1.3
Illinois.
Indiana................................
Michigan..............................
O hio...
Wisconsin............................
Plains
Iowa...,
Kansas................................
Minnesota...........................
Missouri...............................
Nebraska.............................
North Dakota.......................
South Dakota......................
Alabama..............................
Arkansas.............................
Florida
Georgia...............................
Kentucky..............................
Louisiana.............................
Mississippi...........................
North Carolina.....................
South Carolina....................
Tennessee............................
Virginia................................
West Virginia.......................
Southwest
88,802
82,721
179,812
170,400
54,460
18,366
23,415
89 214
83 696
181 718
171 926
54 750
18 343
23 646
122,976
68,772
547,328
258,344
109,722
120,146
68,228
244,164
110,594
170,729
261,052
44,671
125 119
69 719
559 727
262 313
110 696
121 173
69 077
248 049
112 557
173 148
264 687
45 438
126,811
71,034
567,477
266,229
112,275
122,565
70,160
252,676
114,332
175,949
269,054
45,887
130,174
73,277
588,191
272,528
114,697
125,500
71,335
258,794
116,927
178,717
275,290
46,746
130,078
73,050
597,127
276,389
115,916
127,024
72,908
260,672
118,207
180,667
280,479
47,059
1,043,117
1,066,635
461,217
192,693
329,913
364,213
180,994
2,438,372
2,471,600
2,500,514
136,857
76,675
635,606
291,915
120,492
139,301
79,059
272,151
123,780
188,564
292,480
48,683
138,829
78,295
648,621
294,490
122,749
132,427
77,170
279,808
126,600
191,280
297,970
50,134
141,164
79,569
658,666
297,841
124,392
133,927
78,001
283,547
128,074
194,913
300,697
50,811
142,824
80,493
668,443
301,330
125,599
135,653
78,605
287,644
129,503
195,820
303,345
51,256
1,114,222
1,135,626
1,163,580
1,184,137
184,108
54,540
107,291
768,283
186,191
55,393
109,345
784,697
192,573
56,698
113,717
800,592
195,056
57,714
115,059
816,307
132,386
74,356
610,817
281.488
117,893
128,601
74,114
264,679
120,304
183,253
284,985
47,691
132,837
75,191
625,167
286,605
119,305
52,863
69,651
268,748
122,095
186,057
289,842
48,127
1,087,259
178,994
53,594
105,367
749,304
144,427
81,574
676,580
305,677
127,234
138,098
79,647
293,041
131,396
199,751
306,381
51,861
147,301
83,227
689,680
313,850
129,754
142,244
81,137
300,207
134,138
201,594
314,289
52,801
1,203,553
1,225,055
1,255,318
1,273,188
198,562
58,668
116,569
829,754
201,447
59,444
118,180
845,985
206,482
60,706
120,515
867,615
207,638
61,367
122,041
882,141
981,838
998 328 1,015,457
Arizona................................
New Mexico.........................
Oklahoma............................
Texas..
159,779
48,674
97,163
676,222
163 073
49 335
99 138
686 781
165,946
49,944
100,623
698,944
170,893
51,298
103,173
717,753
174,157
52,444
103,828
736,205
Rocky Mountain....................
300,933
306 577
309,681
318,608
323,368
329,446
335,964
340,904
349,827
354,594
366,276
374,030
379,990
385,723
390,249
1.2
162 662
37 702
25 572
63 047
17 595
163,764
38,292
25,872
63,937
17,817
168,584
39,362
26,656
65,634
18,372
171,580
39,206
26,641
67,638
18,303
174,447
39,998
27,064
69,266
18,670
177,422
40,792
27,603
71,006
19,141
179,487
41,422
27,927
72,575
19,494
185,314
42,522
28,554
73,506
19,931
360,794
159,936
36,961
25,152
61,642
17,243
186,302
43,662
28,898
75,108
20,624
189,800
43,947
29,413
76,416
21,217
191,471
45,067
29,743
78,382
21,613
195,429
45,776
30,419
80,367
22,040
197,874
46,447
30,851
82,344
22,475
201,234
47,141
31,388
83,156
22,805
203,566
47,742
31,703
84,158
23,080
1.2
1.3
1.0
1.2
1.2
1,688,308 1,715 750 1,740,987
1,806,279
1,798,292
1,829,657
1,864,502
1,938,590
1,958,822
2,081,414
2,131,478
1.0
24,850
1,382,667
45,344
92,826
116,671
231,049
25,975
1,443,049
47,819
97,755
123,577
244,459
26,420
1,463,044
48,291
99,893
125,647
249,928
27,180
1,489,176
49,443
101,724
127,671
254,695
27,534
1,512,753
49,843
102,826
129,510
258,948
2,109,619
24,519
1,363,071
44,494
91,171
115,777
225,471
25,780
1,426,103
47,016
96,756
121,846
241,322
2,013,222
24,043
1,335,194
43,959
89,989
113,910
222,562
25,170
1,413,588
46,232
94,352
120,569
238,679
1,982,633
2,049,889
23,682
1,312,089
43,334
86,870
112,456
219,862
1,893,407
23,015
1,302,488
42,346
84,313
112,080
242,037
27,720
1,530,473
50,753
104,892
131,316
264,465
27,885
1,545,784
51,397
105,944
132,915
267,553
0.6
1.0
1.3
1.0
1.2
1.2
Colorado..............................
Idaho..
Montana..............................
Utah...
Wyoming..............................
Far West
21,979
22 189
Alaska
22,555
California............................. 1,235,134 1,254 107 1,272,152
41,344
Hawaii
39,883
40 536
Nevada.................................
78 813
80,954
76,918
Oregon.................................
109
195
110,226
107,370
Washington.........................
207,023 210 911 213,756
1
210,829
62,669
125,167
897,145
. P e r c e n t c h a n g e w a s c a lc u la t e d f r o m u n r o u n d e d d a ta .
t h e m e t h o d o lo g ie s u s e d to p r e p a r e t h e e s t im a te s , a n d in t h e t im in g o f t h e a v a ila b ilit y o f s o u r c e d a ta .
N o te . T h e p e r s o n a l in c o m e le v e l s h o w n f o r t h e U n it e d S t a t e s is d e r iv e d a s t h e s u m o f t h e s ta te e s t im a te s . It d iff e r s
S o u r c e : T a b le
“ S ta t e P e r s o n a l In c o m e : F o u r th Q u a r t e r o f
a n d A n n u a l E s t im a t e s fo r
fr o m t h e e s t im a t e o f p e r s o n a l i n c o m e in t h e n a tio n a l in c o m e a n d p r o d u c t a c c o u n t s b e c a u s e o f d if f e r e n c e s in c o v e r a g e , in
S u r v e y o f C u r r e n t B u s in e s s .
1
2007
2007
" in th e A p r il
2008
Su r v e y
June 2008
of
C u r r e n t B u s in e s s
D-71
Table I.2. Annual Personal Income and Per Capita Personal Income by State and Region
Personal income
Area
Per capita personal income ’
Percent
change2
[Millions of dollars]
2002
2003
2004
2005
2006
2007
2006-2007
Rank in
United
States
[Dollars]
2002
2003
2004
2005
31,504
37,950
33,123
40,058
34,757
41,909
36,714
44,327
38,611
46,948
42,839
28,795
39,449
34,554
32,697
30,321
45,762
30,169
41,444
36,460
34,318
31,959
47,943
30,952
43,612
37,557
35,987
32,833
50,762
32,095
46,299
39,753
37,523
34,871
54,117
33,722
49,082
41,512
39,463
36,670
2006
2007
United States...............................
New England........................................................
8,872,871
528,030
9,150,320
538,413
9,711,363
569,244
10,284,356
595,833
10,968,393
631,192
11,645,882
669,670
Connecticut...........................................................
Maine............
M assachusetts......................................................
New Hampshire....................................................
Rhode Island
Vermont..................................................................
146,997
35,998
249,954
43,393
33,635
18,051
148,777
37,533
253,993
44,327
35,072
18,711
159,337
39,488
266,635
47,190
36,818
19,776
167,152
40,616
280,388
48,941
38,388
20,348
177,453
42,202
297,905
52,149
39,835
21,647
189,535
44,418
316,568
54,622
41,745
22,782
Mideast.................................................................
1,648,005
1,690,345
1,794,306
1,894,450
2,023,404
2,153,591
6.4
Delaware................................................................
District of Columbia..............................................
M aryland................................................................
New Jersey............................................................
New York................................................................
Pennsylvania.........................................................
35,203
35,944
38,020
40,066
42,696
45,350
26,530
25,786
198,824
337,009
677,604
382,251
27,395
26,914
205,737
342,858
693,533
393,908
29,331
29,203
220,127
361,822
739,969
413,855
31,170
31,647
232,160
377,448
790,074
431,951
33,369
33,808
245,303
405,254
848,937
456,732
35,116
35,940
258,561
427,297
914,432
482,245
5.2
6.3
5.4
5.4
7.7
5.6
32,962
44,521
36,590
39,378
35,416
31,063
33,581
46,607
37,447
39,844
36,107
31,954
35,438
50,383
39,751
41,872
38,423
33,514
37,083
54,371
41,657
43,598
41,016
34,927
39,131
57,746
43,788
46,763
44,027
36,825
40,608
61,092
46,021
49,194
47,385
38,788
Great Lakes..........................................................
1,386,117
1,428,321
1,476,856
1,535,853
1,609,282
1,686,741
Illinois
Indiana....................................................................
Michigan.................................................................
Ohio..
W isconsin..............................................................
4.8
30,375
31,189
32,130
33,327
34,819
36,401
413,711
172,474
303,465
333,158
163,309
426,877
178,675
313,503
341,146
168,120
445,151
186,210
318,736
352,103
174,655
464,125
193,348
330,474
366,017
181,889
490,755
203,502
341,337
381,963
191,726
518,245
213,302
353,376
399,897
201,921
5.6
4.8
3.5
4.7
5.3
32,891
28,040
30,214
29,186
29,992
33,811
28,891
31,116
29,831
30,705
35,106
29,943
31,550
30,744
31,697
36,489
30,900
32,694
31,939
32,829
38,409
32,288
33,788
33,320
34,405
40,322
33,616
35,086
34,874
36,047
576,806
598,619
630,728
657,850
692,706
736,163
6.3
29,638
30,618
32,078
33,277
34,791
36,715
82,398
78,606
166,968
161,104
50,390
16,743
20,596
83,920
81,116
173,498
166,129
53,391
18,179
22,386
90,436
84,642
183,821
173,906
55,424
18,645
23,853
93,204
89,676
190,521
181,888
57,677
20,268
24,616
98,208
95,901
200,300
191,413
60,744
20,885
25,255
104,651
102,069
213,282
202,153
64,721
22,291
26,996
6.6
6.4
6.5
5.6
6.5
6.7
6.9
28,112
28,980
33,256
28,382
29,203
26,415
27,029
28,583
29,802
34,339
29,115
30,778
28,712
29,191
30,698
30,995
36,145
30,272
31,781
29,279
30,813
31,535
32,709
37,256
31,426
32,882
31,871
31,557
33,038
34,799
38,859
32,789
34,440
32,763
32,030
35,023
36,768
41,034
34,389
36,471
34,846
33,905
1,973,853
2,040,368
2,183,763
2,320,549
2,486,538
2,640,290
6.2
27,740
28,355
29,935
31,355
33,212
34,804
113,835
63,234
495,489
244,957
103,866
112,744
63,979
228,684
104,046
159,173
240,534
43,312
118,356
66,476
514,378
250,806
106,319
115,695
66,305
234,983
107,203
165,402
250,605
43,841
126,270
70,701
565,681
264,854
111,847
122,346
69,700
250,921
113,603
174,636
267,521
45,686
133,040
74,818
617,179
284,100
118,401
111,948
73,933
266,562
121,097
184,635
286,947
47,890
141,811
79,983
663,077
299,834
124,993
135,026
78,356
286,010
128,893
195,441
302,098
51,016
149,959
85,214
701,647
319,339
131,956
149,214
84,193
304,781
136,696
204,896
318,873
53,522
5.7
6.5
5.8
6.5
5.6
10.5
7.4
6.6
6.1
4.8
5.6
4.9
25,461
23,391
29,727
28,513
25,401
25,248
22,377
27,488
25,348
27,435
33,033
24,061
26,371
24,440
30,330
28,696
25,843
25,861
23,116
27,904
25,852
28,257
34,001
24,313
28,007
25,776
32,618
29,688
27,017
27,261
24,144
29,387
27,039
29,539
35,841
25,316
29,306
26,989
34,798
31,193
28,387
24,901
25,490
30,713
28,460
30,827
37,968
26,523
30,894
28,473
36,720
32,095
29,729
31,821
27,028
32,247
29,767
32,172
39,540
28,206
32,404
30,060
38,444
33,457
31,111
34,756
28,845
33,636
31,013
33,280
41,347
29,537
Plains...
Iowa..
Kansas...................................................................
Minnesota..............................................................
Missouri
.........................................................
Nebraska
North Dakota
South Dakota
Southeast
Alabama.................................................................
Arkansas ................................................................
Florida....................................................................
Georgia...................................................................
Kentucky.................................................................
Louisiana................................................................
Mississippi.............................................................
North Carolina.......................................................
South Carolina.......................................................
Tennessee.............................................................
Virginia ...................................................................
West V irginia.........................................................
Southwest
6.2
6.1
30,821
37,364
6.8
5.3
6.3
4.7
4.8
5.2
42,585
27,816
38,862
34,109
31,527
29,339
905,918
939,250
1,009,685
1,100,935
1,194,081
1,283,830
7.5
27,865
28,432
30,043
32,146
34,026
Arizona...................................................................
New Mexico...........................................................
Oklahoma..............................................................
Texas
35,831
144,150
44,987
90,178
626,604
150,582
46,650
92,599
649,419
164,923
49,813
100,024
694,925
180,862
53,993
106,458
759,622
196,909
58,131
115,881
823,159
209,361
62,002
123,541
888,926
6.3
6.7
6.6
8.0
26,474
24,310
25,872
28,835
26,989
24,945
26,457
29,404
28,710
26,326
28,444
30,948
30,386
28,175
30,107
33,253
31,936
29,929
32,391
35,166
33,029
31,474
34,153
37,187
Rocky Mountain...................................................
283,369
289,654
308,950
332,420
357,873
382,498
6.9
29,535
29,833
31,328
33,087
34,849
36,474
Colorado.................................................................
Idaho ......................................................................
M ontana.................................................................
Utah..
Wyoming.................................................................
153,066
33,849
22,819
58,172
15,463
154,829
34,816
24,177
59,412
16,420
163,736
38,079
25,813
63,565
17,756
175,734
40,355
27,309
70,121
18,902
188,222
43,800
29,152
75,853
20,846
199,525
46,776
31,090
82,506
22,600
6.0
6.8
6.6
8.8
8.4
33,956
25,221
25,068
24,893
31,101
33,989
25,524
26,353
25,034
32,882
35,523
27,361
27,854
26,149
35,283
37,600
28,301
29,183
27,992
37,316
39,491
29,920
30,790
29,406
40,655
41,042
31,197
32,458
31,189
43,226
1,570,773
1,625,348
1,737,831
1,846,465
1,973,317
2,093,100
6.1
32,330
33,047
34,938
21,184
1,187,040
37,837
71,183
105,161
202,942
36,755
38,872
20,722
1,147,716
36,370
66,632
101,882
197,452
40,800
22,434
1,265,970
41,027
80,250
109,718
218,432
24,273
1,348,255
44,283
90,214
114,703
224,736
25,836
1,436,446
47,340
97,189
122,909
243,597
27,580
1,519,547
50,359
103,847
130,353
261,415
6.7
5.8
6.4
6.9
6.1
7.3
32,243
32,826
29,599
30,739
28,931
32,573
32,543
33,554
30,506
31,802
29,565
33,166
33,906
35,440
32,713
34,442
30,621
35,289
36,261
37,462
34,935
37,450
31,599
35,838
38,138
39,626
37,023
38,994
33,299
38,212
40,352
41,571
39,239
40,480
34,784
40,414
Far West
Alaska.....................................................................
C alifornia................................................................
Hawaii.....................................................................
Nevada...................................................................
O regon...................................................................
Washington............................................................
1. Per capita personal income was computed using midyear population estimates of the Census Bureau.
2. Percent change was calculated from unrounded data.
Note. 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
2007
1
35
3
8
17
23
12
5
2
4
19
16
37
26
28
25
27
22
11
32
24
29
34
42
48
20
38
46
31
50
36
47
39
9
49
40
43
33
21
10
44
41
45
6
15
7
18
13
30
14
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 2 “State Personal Income: Fourth Quarter of 2007 and Annual Estimates for 2007” in the April 2008
S urvey of C urrent Business.
D-72
R egional Data
June 2008
Table 1.3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region
Per capita disposable personal income1
Disposable personal income
Percent
change2
[Millions of dollars]
Area
2002
2003
2004
2005
2006
2007
New England........................................................
7,822,136
454,473
8,150,333
468,091
8,666,164
495,549
9,076,542
512,400
9,615,432
538,235
10,163,821
567,261
5.7
5.4
27,171
32,159
28,061
32,993
29,558
34,872
30,675
36,040
32,185
37,799
33,697
39,768
Connecticut...........................................................
Maine......................................................................
Massachusetts......................................................
New Hampshire.....................................................
Rhode Island.........................................................
Vermont..................................................................
123,813
31,984
214,288
38,709
29,644
16,036
126,684
33,713
219,666
39,979
31,192
16,857
135,760
35,562
230,805
42,764
32,799
17,859
139,779
36,251
240,253
43,923
34,034
18,160
146,708
37,474
253,241
46,524
35,048
19,241
155,342
39,293
267,316
48,472
36,632
20,206
5.9
4.9
5.6
4.2
4.5
5.0
35,868
24,713
33,317
30,427
27,786
26,064
36,477
25,864
34,118
31,164
29,080
27,317
38,990
27,170
35,874
33,041
30,572
28,861
40,092
27,625
37,369
33,706
31,905
29,302
41,967
28,499
39,357
35,465
33,013
30,995
44,354
29,830
41,446
36,838
34,630
32,524
Mideast.................................................................
1,422,594
1,474,695
1,565,954
1,634,548
1,733,708
1,833,329
5.7
30,388
31,358
33,182
34,569
36,583
38,606
Delaware................................................................
M aryland................................................................
New Jersey............................................................
New Y ork................................................................
Pennsylvania.........................................................
23,183
22,308
171,570
291,335
576,527
337,670
24,183
23,436
178,801
299,674
597,414
351,187
25,898
25,459
191,478
317,360
635,806
369,952
27,174
27,397
200,197
326,431
671,192
382,156
28,919
29,120
210,038
348,796
715,269
401,567
30,421
30,856
219,976
365,417
764,591
422,068
5.2
6.0
4.7
4.8
6.9
5.1
28,803
38,516
31,575
34,041
30,133
27,440
29,644
40,583
32,544
34,826
31,103
28,489
31,291
43,924
34,577
36,726
33,014
29,959
32,329
47,070
35,922
37,705
34,844
30,901
33,913
49,739
37,493
40,248
37,095
32,377
35,179
52,450
39,153
42,070
39,621
33,948
Great Lakes..........................................................
1,221,717
1,273,948
1,321,238
1,364,088
1,422,535
1,485,177
4.4
26,773
27,818
28,745
29,599
30,779
32,051
Illinois.....................................................................
Indiana....................................................................
Michigan.................................................................
Ohio........................................................................
Wisconsin..............................................................
362,767
153,422
269,198
292,555
143,775
379,815
160,676
281,273
302,840
149,343
397,414
168,139
287,282
312,785
155,619
409,982
173,269
296,635
323,448
160,753
430,444
181,615
305,480
336,363
168,633
452,364
189,805
315,185
351,069
176,753
5.1
4.5
3.2
4.4
4.8
28,841
24,942
26,803
25,629
26,404
30,084
25,980
27,917
26,481
27,276
31,342
27,037
28,436
27,311
28,242
32,232
27,692
29,347
28,225
29,014
33,689
28,816
30,239
29,342
30,261
35,196
29,913
31,294
30,616
31,554
Plains....................................................................
512,013
537,211
568,066
586,852
613,945
650,254
5.9
26,309
27,477
28,891
29,685
30,836
32,431
Iowa........................................................................
Kansas...................................................................
Minnesota..............................................................
Missouri..................................................................
Nebraska................................................................
North Dakota.........................................................
South Dakota.........................................................
74,161
70,049
145,240
143,294
45,123
15,266
18,879
76,099
73,094
152,623
149,429
48,403
16,745
20,819
82,341
76,496
162,522
157,119
50,242
17,170
22,177
84,140
80,279
166,545
162,818
51,834
18,572
22,664
88,160
85,154
174,055
170,310
54,236
18,965
23,065
93,759
90,206
184,662
179,203
57,687
20,163
24,573
6.4
5.9
6.1
5.2
6.4
6.3
6.5
25,302
25,826
28,929
25,245
26,150
24,084
24,776
25,919
26,855
30,208
26,188
27,902
26,446
27,148
27,950
28,012
31,957
27,350
28,809
26,962
28,647
28,468
29,281
32,568
28,131
29,551
29,204
29,054
29,658
30,900
33,767
29,174
30,750
29,751
29,253
31,378
32,495
35,528
30,485
32,507
31,519
30,863
1,762,224
1,840,485
1,971,328
2,072,509
2,208,916
2,336,590
5.8
24,766
25,577
27,023
28,003
29,504
30,801
102,725
56,919
443,369
216,481
92,299
102,141
58,542
202,246
93,514
145,548
209,201
39,240
107,741
60,504
466,917
223,843
95,199
105,959
61,165
209,846
97,135
152,470
219,705
40,001
115,175
64,474
510,652
236,929
100,610
112,259
64,519
224,854
103,253
161,480
235,246
41,877
120,405
67,697
548,383
252,296
105,921
101,638
68,506
236,222
108,635
169,674
249,645
43,488
127,659
72,111
584,901
264,422
111,753
123,336
72,305
251,961
115,187
178,613
260,525
46,143
134,564
76,652
616,926
280,131
117,553
136,215
77,535
267,022
121,522
186,546
273,704
48,220
5.4
6.3
5.5
5.9
5.2
10.4
7.2
6.0
5.5
4.4
5.1
4.5
22,976
21,055
26,600
25,198
22,572
22,873
20,475
24,310
22,782
25,087
28,730
21,799
24,006
22,244
27,532
25,611
23,140
23,685
21,324
24,919
23,424
26,048
29,808
22,183
25,546
23,506
29,445
26,557
24,303
25,013
22,349
26,335
24,576
27,314
31,517
23,205
26,523
24,420
30,919
27,701
25,395
22,608
23,619
27,217
25,531
28,330
33,032
24,085
27,811
25,670
32,391
28,304
26,580
29,066
24,940
28,408
26,601
29,402
34,099
25,511
29,077
27,040
33,802
29,349
27,715
31,728
26,564
29,469
27,570
30,299
35,490
26,611
2002
Southeast
Alabam a.................................................................
Arkansas ................................................................
Florida....................................................................
Georgia...................................................................
Kentucky.................................................................
Louisiana................................................................
Mississippi..............................................................
North Carolina.......................................................
South Carolina.......................................................
Tennessee.............................................................
V irginia...................................................................
West V irginia.........................................................
2003
2004
2005
2007
2006
2006-2007
Rank in
United
States
[Dollars]
818,959
857,087
925,182
996,504
1,073,579
1,149,367
7.1
25,190
25,945
27,529
29,096
30,592
32,078
Arizona...................................................................
New Mexico...........................................................
Oklahoma..............................................................
Texas ......................................................................
129,279
40,631
81,087
567,962
136,028
42,493
83,929
594,637
149,109
45,555
90,998
639,520
160,910
49,044
95,721
690,828
173,813
52,501
103,729
743,536
184,178
55,895
110,317
798,976
6.0
6.5
6.4
7.5
23,743
21,956
23,264
26,137
24,381
22,722
23,980
26,924
25,957
24,076
25,877
28,480
27,034
25,593
27,071
30,241
28,190
27,031
28,995
31,765
29,056
28,374
30,497
33,424
Rocky Mountain...................................................
251,784
259,930
277,937
295,113
315,346
335,126
6.3
26,243
26,771
28,183
29,373
30,708
31,956
Colorado.................................................................
Idaho......................................................................
Montana.................................................................
Utah........................................................................
Wyoming.................................................................
134,727
30,512
20,572
52,123
13,850
137,882
31,603
21,981
53,574
14,890
146,185
34,662
23,486
57,451
16,153
155,218
36,073
24,542
62,445
16,836
165,042
38,829
26,062
66,969
18,444
173,846
41,253
27,719
72,455
19,851
5.3
6.2
6.4
8.2
7.6
29,888
22,735
22,600
22,304
27,856
30,269
23,169
23,959
22,574
29,817
31,716
24,906
25,343
23,634
32,096
33,211
25,299
26,226
24,928
33,237
34,627
26,525
27,526
25,961
35,970
35,760
27,513
28,939
27,390
37,969
Far West................................................................
1,378,371
1,438,886
1,540,910
1,614,527
1,709,167
1,806,719
5.7
28,370
29,256
30,979
32,138
33,669
35,218
Alaska.....................................................................
California................................................................
Hawaii.....................................................................
Nevada...................................................................
Oregon ...................................................................
Washington............................................................
18,684
1,001,232
32,308
59,195
89,801
177,151
19,269
1,044,737
33,841
63,811
93,365
183,863
20,561
1,115,556
36,712
71,698
97,346
199,037
22,130
1,170,521
39,161
79,675
100,418
202,623
23,424
1,233,854
41,621
85,118
106,950
218,200
24,935
1,300,846
44,205
90,559
113,260
232,914
6.5
5.4
6.2
6.4
5.9
6.7
29,071
28,636
26,293
27,308
25,501
29,224
29,601
29,532
27,284
28,508
26,249
30,048
31,075
31,229
29,272
30,772
27,169
32,155
33,060
32,523
30,894
33,074
27,664
32,312
34,576
34,037
32,551
34,151
28,975
34,228
36,483
35,588
34,444
35,300
30,223
36,008
Southwest
1. Per capita disposable personal income was computed using midyear population estimates of the Census Bureau.
2. Percent change was calculated from unrounded data.
N ote. 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
2007
1
37
3
7
17
22
16
5
2
4
19
15
36
29
31
26
28
24
12
33
23
27
30
40
48
20
39
44
25
50
38
45
34
13
49
41
43
32
21
10
46
42
47
6
8
11
18
14
35
9
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 3 “State Personal Income: Fourth Quarter of 2007 and Annual Estimates for 2007" in the April 2008
S urvey of C urrent Business.
June 2008
D-73
S u r v e y o f C u r r e n t B u s in e ss
Table 1.4. Gross Domestic Product (GDP) by State for Industries, 2007
[Millions of dollars]
State and region
Rank of
total
G D P by
state
Total
Natural
resources Construction
and mining
Durable-goods
manufacturing
Nondurablegoods
manufacturing
Trade
Transportation
Information
and utilities
Financial
activities
Professional
and
business
services
Education
and health
services
Leisure
and
hospitality
Other
services
Government
U nited S t a t e s ...............
13,743,021
437,149
562,625
926,689
699,401
645,310
2,860,733
1,684,211
1,090,737
505,676
316,573
1,639,241
New E n g la n d ..........................
C o nnecticut.........................
M aine.....................................
M assachusetts...................
New H am pshire..................
Rhode Is la n d ......................
V erm ont................................
744,672
216,266
48,108
351,514
57,341
46,900
24,543
3,437
500
763
1,232
313
130
499
26,311
6,137
2,120
12,758
2,217
1,969
1,111
54,641
17,405
2,858
24,569
4,734
2,975
2,099
26,435
9,968
2,454
10,173
1,610
1,504
726
84,775
23,018
6,844
38,018
8,338
5,358
3,199
27,621
7,888
2,286
11,311
3,236
1,646
1,254
33,593
8,989
1,377
18,222
2,199
1,809
997
189,898
64,621
9,567
85,993
12,481
12,770
4,465
104,240
28,943
4,079
57,699
6,872
4,694
1,954
80,855
19,352
5,836
41,025
6,229
5,444
2,969
25,139
5,771
1,957
12,086
2,268
1,759
1,298
15,859
4,250
1,077
7,480
1,431
1,023
599
7 1,869
19,424
6,889
30,947
5,414
5,822
3,373
15
8
3
6
2,522,240
60,118
93,819
268,685
465,484
1,103,024
531,110
14,321
648
7
1,413
1,129
3,729
7,395
84,100
1,951
1,026
13,990
16,126
3 0,458
20,550
93,687
1,256
68
6,787
13,689
29,998
41,890
107,727
3,112
130
7,708
27,119
36,390
33,269
275,188
4,609
2,032
29,650
65,812
108,073
65,012
112,613
1,846
1,265
13,473
23,360
40,137
32,533
146,216
1,280
5,900
10,546
24,103
8 3,276
21,112
6 71,997
26,850
14,486
60,451
115,986
355,343
98,881
354,997
7,177
22,885
38,898
67,304
150,610
68,123
227,687
3,682
6,433
23,325
37,624
95,745
60,878
81,922
1,383
3,299
8,782
15,921
36,646
15,891
59,290
1,058
5,820
6,801
9,530
22,564
13,517
2 92,494
5,265
30,469
46,863
47,782
110,056
52,060
G reat L a k e s ............................
Illinois....................................
Indiana..................................
Michigan...............................
O h io .......................................
W isconsin............................
5
18
12
7
21
1,936,573
609,570
246,439
381,963
466,309
232,293
27,225
7,142
4,805
4,654
6,107
4,517
71,242
23,560
9,790
13,124
15,712
9,055
2 21,695
45,697
40,180
49,385
57,210
29,223
114,907
30,932
22,517
15,076
27,858
18,523
242,724
77,644
29,832
48,691
58,768
27,789
109,965
35,949
15,713
20,040
26,457
11,806
62,612
24,112
6,018
11,654
13,210
7,618
370,140
134,098
37,190
68,054
87,221
43,577
2 38,375
89,423
19,975
52,629
55,383
20,965
165,285
47,380
20,857
33,713
41,774
21,560
62,953
2 0,143
9,176
12,543
14,096
6,996
46,155
14,793
6,042
9,080
10,863
5,378
203,296
58,697
24,343
43,320
51,651
25,286
P la in s ........................................
Io w a .......................................
Kansas .................................
Minnesota............................
M issouri................................
N eb ra sk a.............................
North D ak o ta......................
South D akota......................
30
32
16
22
36
49
47
872,523
129,026
117,305
254,970
229,470
80,093
27,725
33,934
36,782
8,008
6,252
7,156
4,330
5,621
3,234
2,180
32,728
4,291
3,938
9,602
9,497
3,082
1,122
1,196
73,270
15,419
11,213
21,228
16,516
4,544
1,858
2,492
49,956
10,653
6,511
12,627
14,071
4,492
775
825
110,707
15,025
14,988
32,469
30,779
9,186
3,976
4,283
51,516
7,842
7,021
11,600
12,939
8,361
2,045
1,708
37,797
3,991
7,831
9,733
11,376
2,694
1,099
1,072
158,891
24,556
16,623
54,546
36,558
13,749
3,843
9,016
91,854
7,841
11,310
32,593
29,374
7,223
1,692
1,820
75,083
9,743
8,804
23,618
20,810
6,430
2,488
3,190
28,584
3,933
3,222
7,850
9,521
2,039
808
1,210
20,402
2,777
2,811
5,689
6,023
1,706
624
771
104,954
14,946
16,780
2 6,258
27,674
10,967
4,159
4,170
South east
A la b am a...............................
Arkansas .............................
Florida
G eorgia.................................
Kentucky...............................
Louisiana..............................
Mississippi...........................
North C aro lin a....................
South Carolina....................
Tennessee ...........................
Virginia .................................
West V irg in ia......................
25
34
4
10
27
24
35
9
28
19
11
40
3,087,889
165,796
95,371
734,519
396,504
154,184
216,146
88,546
399,446
152,830
243,869
382,964
57,711
89,010
5,924
5,244
7,746
5,653
7,350
32,894
4,971
6,767
1,745
2,314
3,836
4,567
142,957
7,236
3,571
45,004
17,572
5,522
8,147
3,606
16,748
7,884
9,214
16,258
2,194
196,961
18,179
9,566
25,383
19,139
17,421
9,121
8,265
30,981
14,842
24,309
16,138
3,616
199,770
10,463
7,376
11,207
24,420
11,657
40,545
5,556
43,297
9,644
15,061
17,731
2,814
402,035
22,887
13,224
103,996
56,874
19,827
22.103
12,050
46,273
21,458
37,277
38,822
7,244
164,955
9,864
6,834
32,971
26,055
10,497
12,967
5,869
16,400
8,035
14,090
16,455
4,918
123,528
4,935
3,892
30,914
25,893
4,391
4,665
2,212
12,664
4,450
8,469
19,457
1,587
574,598
24,253
12,316
177,746
72,520
20,751
22,613
11,271
88,420
24,242
37,837
75,124
7,506
347,507
14,994
7,869
93,748
47,413
12,024
15,721
6,022
38,302
14,817
27,234
65,366
3,996
232,321
12,599
7,716
59,838
27,377
13,207
13,009
6,884
27,881
9,997
24,259
2 3,834
5,719
120,818
4,489
2,696
4 0,588
13,257
4,914
8,036
4,480
12,119
6,508
10,384
11,278
2,070
73,675
4,284
2,204
19,819
8,250
3,408
4,012
2,091
8,105
3,779
6,489
9,884
1,349
4 19,753
25,688
12,863
85,559
52,081
23,215
2 2,313
15,269
5 1,488
25,431
26,933
68,781
10,132
S o u th w e s t...............................
A riz o n a .................................
New M exico .........................
O klahom a............................
Texas .....................................
17
37
29
2
1 ,604,494
2 47,028
76,178
139,323
1,141,965
160,487
6,749
12,064
21,685
119,988
74,567
14,754
3,161
4,450
52,203
107,773
16,647
4,543
9,554
77,030
86,101
2,965
1,030
5,954
76,151
200,574
34,196
7,694
15,940
142,744
103,220
11,343
3,943
8,415
79,520
61,956
7,166
2,016
4,705
48,069
253,852
58,545
10,345
17,742
167,220
178,710
29,612
8,752
11,928
128,417
106,033
19,671
5,452
9,970
70,940
51,377
10,596
2,649
4,120
34,012
33,2 88
4 ,846
1,587
3,050
23,805
186,557
29,938
12,942
21,811
121,867
R ocky M o u n ta in ....................
Colorado...............................
Id a h o .....................................
M o n ta n a ...............................
U ta h .......................................
Wyoming...............................
20
42
46
33
48
4 58,897
236,324
51,149
34,253
105,658
31,514
33,993
12,905
3,193
3,665
4,205
10,025
25,145
12,447
2,927
2,047
5,922
1,801
23,071
9,490
3,697
890
8,621
374
11,847
5,693
1,557
609
3,331
657
55,306
27,573
7,163
4,223
13,394
2,953
23,263
8,988
2,510
2,915
5,464
3,385
28,124
21,350
1,268
1,012
3,985
509
83,309
44,121
8,798
5,314
21,956
3,120
55,916
34,257
6,340
2,603
11,305
1,411
30,756
15,377
3,968
3,170
6,907
1,334
18,527
10,368
1,780
1,614
3,594
1,172
11,338
5 ,708
1,027
844
3,181
577
58,302
28,047
6,919
5,346
13,793
4,196
Far W e s t....................................
Alaska....................................
California..............................
Haw aii....................................
N e v a d a .................................
O re g o n .................................
Washington..........................
45
1
38
31
26
14
2,515,732
44,517
1,812,968
61,532
127,213
158,233
311,270
71,893
14,108
42,581
478
2,686
4,767
7,272
105,575
1,666
69,743
3,419
10,262
6,496
13,990
155,592
154
102,707
419
4,087
25,697
22,529
92,345
808
76,315
660
1,485
4 ,530
8,548
314,282
2,800
229,840
6,410
14,948
19,290
40,992
106,247
4,719
73,797
3,413
5,647
6,813
11,858
151,482
1,065
112,554
1,556
2,607
5,696
28,004
558,047
4,483
4 21,755
13,343
28,778
28,717
60,971
312,613
2,439
242,131
5,531
13,369
14,975
34,168
172,718
2,443
123,489
4,681
6,633
13,147
22,325
116,356
1,354
71,758
5,970
21,632
5,078
10,564
56,567
684
41,135
1,532
2,267
3,677
7,272
302,015
7,794
205,163
14,119
12,813
19,351
42,775
M id e a s t.....................................
D ela w a re .............................
District of C olum bia...........
M aryland...............................
New Jersey..........................
New York...............................
Pennsylvania......................
23
43
13
41
44
50
39
689,087 1,685,590
N o t e . Totals shown for the United States differ from the national income and product account estimates of gross
domestic product (GDP) because GDP by state excludes and national GDP includes the compensation of Federal civilian
and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad
and for military equipment, except office equipment. Also, GDP by state and national GDP have different revision schedules.
Source: This table reflects the GDP-by-state estimates for 2007 that were released on June 5, 2008.
D-74
June 2008
J. L o c a l A re a Tab le
T a b le 1 . P e r s o n a l I n c o m e a n d P e r C a p i t a P e r s o n a l I n c o m e b y M e t r o p o l i t a n A r e a , 2 0 0 4 - 2 0 0 6 — C o n t in u e s
Personal income
Area
Percent change from
preceding period 2
Millions of dollars
2004
Per capita personal incom e1
2005
2006
2004
2006
2005
Rank in
United
States
Dollars
2005
2006
2006
Percent change from
preceding period
2005
2006
9,711,363
10,284,356
10,968,393
5.9
6.7
33,123
34,757
36,714
4.9
5.6
M etro p o litan p o r t io n ..........................................................................
8,478,159
8,998,025
9,611,205
6.1
6.8
34,733
36,483
38,564
5.0
5.7
N o n m e tro p o lita n p o r tio n .................................................................
1 ,233,204
1,286,331
1,357,188
4.3
5.5
25,119
26,115
27,403
4.0
4.9
4,167
22,472
3,846
29,107
22,993
4,064
25,233
3,349
6,319
2,436
12,861
3,602
4,477
13,058
2,951
6,835
10,797
4,406
161,948
8,696
2 ,856
13,964
46,135
17,585
103,319
4,032
9,443
20,301
3,801
2,986
10,202
5,100
4,081
4,567
6,777
36,618
3,078
3,484
4,565
5,113
16,385
200,371
12,038
2,871
26,398
8,285
58,119
6,236
2,897
35,581
3,668
7,024
11,343
18,442
2,032
2,614
7,872
6,381
9,033
16,988
51,625
6,384
14,456
2,997
352,359
5,496
70,676
6,525
2,832
72,537
3,177
4,384
18,221
4,414
23,649
4,021
30,582
24,804
4,386
26,461
3,488
6,843
2,558
13,898
3,644
4,704
13,354
3,075
7,165
11,358
4,702
174,810
9,027
3,029
14,678
50,988
18,804
108,479
4,196
9,591
2 2,016
3,951
3,041
10,860
5,421
4,502
4,848
6,884
38,575
3,299
3,734
4,730
5,145
17,394
211,565
13,311
3,106
29,233
8,706
6 1,623
6,619
3,051
3 6,323
3,764
7,236
11,781
2 0,939
2,168
2,770
8,228
6,256
9,433
18,671
55,683
6,868
15,241
3,153
371,160
5,744
74,295
7,458
2,956
75,337
3,482
4,721
19,528
4,731
21,441
8,740
2,427
59,651
12,065
2,693
2,468
4,740
24,635
4,149
32,527
26,764
4,611
28,129
3,627
7,335
2,728
14,775
3,805
4,950
13,874
3,264
7,521
12,239
4,936
184,911
9,577
3,252
15,327
55,665
20,042
114,592
4,342
10,157
2 4,038
4,107
3,168
11,646
5,793
4,997
5,162
7,353
4 1,067
3,479
3,945
4,973
5,462
19,175
225,705
14,200
3,299
31,634
9,399
66,407
7,047
3,288
38,311
4,013
7,696
12,127
2 2,868
2,286
3,102
8,693
6,598
10,030
19,901
60,483
7,316
16,148
3,401
393,382
6,100
77,740
8,060
3,047
78,752
3,808
5,113
20,639
5,004
22,953
9,268
2,590
62,635
13,006
2,870
2,586
5.9
5.2
4.6
5.1
7.9
7.9
4.9
4.1
8.3
5.0
8.1
1.2
5.1
2.3
4.2
4.8
5.2
6.7
7.9
3.8
6.1
5.1
10.5
6.9
5.0
4.1
1.6
8.4
3.9
7.4
4.2
3.2
6.4
7.9
5.1
6.3
4.0
7.2
6.7
6.3
4.4
5.2
3.9
6.1
5.0
7.8
5.0
5.8
6.1
7.4
4.4
9.2
6.6
5.6
3.5
5.9
9.2
4.0
4.2
7.2
6.9
11.0
6.5
6.8
6.5
5.4
5.7
5.1
6.2
10.2
6.7
6.7
6.2
8.2
8.0
7.8
6.5
7.8
5.5
6.6
6.4
2.9
9.2
5.5
12.0
5.6
5.5
6.3
6.6
8.6
6.5
6.0
7.9
6.0
6.2
26,259
32,065
2 3,810
34,477
29,443
27,835
32,520
26,457
26,853
29,644
37,178
27,429
25,919
38,211
26,442
32,214
27,913
24,695
33,662
32,643
23,474
27,138
32,417
24,133
39,154
27,488
41,609
27,970
27,370
27,395
26,794
28,036
30,421
31,655
27,262
33,900
31,472
22,713
25,345
32,238
31,246
44,988
42,713
26,244
40,632
34,746
64,880
17,047
29,940
30,935
26,568
34,311
27,767
35,949
36,441
38,050
32,111
29,519
29,508
28,762
35,038
34,526
29,074
35,140
37,620
25,747
33,901
26,638
26,473
34,062
26,108
22,570
31,389
29,469
29,423
28,308
32,638
33,433
27,313
34,373
23,757
27,790
33,739
24,811
36,107
31,061
29,908
33,677
27,693
28,750
31,158
39,525
27,871
26,975
38,682
27,445
33,455
29,022
26,223
35,262
33,589
24,181
28,356
34,701
25,050
40,933
28,537
42,618
30,154
28,588
28,000
28,519
29,214
31,909
33,142
27,856
35,448
33,172
24,136
26,153
32,195
31,925
47,491
47,032
27,838
43,700
36,308
68,840
17,760
31,234
31,825
26,913
35,211
28,895
38,598
38,938
39,865
33,269
28,800
30,959
31,026
36,580
36,546
30,316
36,922
39,454
26,691
35,326
29,618
27,357
35,555
27,449
23,963
33,131
30,257
29,847
35,188
25,432
38,213
32,727
30,800
35,369
28,865
30,515
32,556
41,104
29,000
27,955
39,892
28,959
34,786
30,767
26,924
36,060
35,480
25,399
2 9,328
36,328
2 5,938
43,026
29,324
45,445
31,443
29,862
29,317
31,104
30,688
33,522
34,923
29,787
37,331
34,357
25,257
27,240
33,704
33,774
50,542
49,628
28,904
46,486
39,353
74,281
18,559
32,889
33,803
28,265
37,280
29,769
40,113
41,478
44,152
34,826
30,128
33,010
32,246
38,164
38,383
31,685
39,647
41,591
28,034
36,650
31,910
27,833
37,406
29,134
25,454
34,255
31,325
32,614
31,922
35,004
36,110
31,464
35,722
5.8
5.2
4.2
4.7
5.5
7.4
3.6
4.7
7.1
5.1
6.3
1.6
4.1
1.2
3.8
3.9
4.0
6.2
4.8
2.9
3.0
4.5
7.0
3.8
4.5
3.8
2.4
7.8
4.5
2.2
6.4
4.2
4.9
4.7
2.2
4.6
5.4
6.3
3.2
-0.1
2.2
5.6
10.1
6.1
7.6
4.5
6.1
4.2
4.3
2.9
1.3
2.6
4.1
7.4
6.9
4.8
3.6
- 2 .4
4.9
7.9
4.4
5.9
4.3
5.1
4.9
3.7
7.4
4.3
2.5
5.8
5.4
3.0
5.0
4.2
6.1
4.5
4.0
4.1
3.6
3.1
5.5
4.0
6.0
2.7
2.3
5.6
5.0
3.4
4.7
3.5
5.1
2.8
6.6
4.3
4.5
4.7
9.1
5.0
5.1
5.4
6.9
5.3
3.6
4.6
4.2
4.7
5.8
6.4
5.5
3.8
6.4
8.4
7.9
4.5
5.3
6.2
5.0
5.9
3.0
3.9
6.5
10.8
4.7
4.6
6.6
3.9
4.3
5.0
4.5
7.4
5.4
5.0
3.7
7.7
1.7
5.2
6.1
6.2
3.4
3.5
5.2
3.7
5.6
3.8
7.2
5.6
5.1
M etropolitan S tatistical A r e a s 4 .................................
Abilene, T X ..............................................................................................
Akron, O H ................................................................................................
Albany, G A ...............................................................................................
Albany-Schenectady-Troy, N Y ...........................................................
Albuquerque, N M ..................................................................................
Alexandria, L A ........................................................................................
Allentown-Bethlehem-Easton, P A -N J..............................................
Altoona, PA..............................................................................................
Amarillo, T X .............................................................................................
Ames, IA ..................................................................................................
Anchorage, A K ......................................................................................
Anderson, I N ..........................................................................................
Anderson, S C .........................................................................................
Ann Arbor, M l .........................................................................................
Anniston-Oxford, A L .............................................................................
Appleton, W l...........................................................................................
Asheville, N C ..........................................................................................
Athens-Clarke County, G A .................................................................
Atlanta-Sandy Springs-Marietta, G A ...............................................
Atlantic City-Hammonton, N J ............................................................
Auburn-Opelika, A L ..............................................................................
Augusta-Richmond County, G A -S C ..................................................
Austin-Round Rock, T X .......................................................................
Bakersfield, C A .......................................................................................
Baltimore-Towson, M D ........................................................................
Bangor, M E ..............................................................................................
Barnstable Town, M A ...........................................................................
Baton Rouge, L A ...................................................................................
Battle Creek, M l.....................................................................................
Bay City, M l .............................................................................................
Beaumont-Port Arthur, T X ...................................................................
Bellingham, W A ......................................................................................
Bend, O R .................................................................................................
Billings, M T ..............................................................................................
Binghamton, N Y ....................................................................................
Birmingham-Hoover, A L ......................................................................
Bismarck, N D .........................................................................................
Blacksburg-Christiansburg-Radford, V A ..........................................
Bloomington, IN .....................................................................................
Bloomington-Normal, I L ......................................................................
City-Nampa, ID ...........................................................................
Boston-Cambridge-Quincy, M A -N H ..................................................
Boulder, C O ............................................................................................
Bowling Green, K Y ...............................................................................
Bradenton-Sarasota-Venice, F L ........................................................
Bremerton-Silverdale, W A ..................................................................
Bridgeport-Stamford-Norwalk, C T ....................................................
Brownsville-Harlingen, T X ..................................................................
Brunswick, G A ........................................................................................
Buffalo-Niagara Falls, N Y ....................................................................
Burlington, N C ........................................................................................
Burlington-South Burlington, V T ........................................................
Canton-Massillon, O H ..........................................................................
Cape Coral-Fort Myers, F L .................................................................
Carson City, N V .....................................................................................
Casper, W Y .............................................................................................
C edar Rapids, IA ...................................................................................
Champaign-Urbana, IL ........................................................................
Charleston, W V .....................................................................................
Charleston-North Charleston-Summerville, S C ...........................
Charlotte-Gastonia-Concord, N C -S C ..............................................
Charlottesville, V A .................................................................................
Chattanooga, T N -G A ............................................................................
Cheyenne, W Y .......................................................................................
Chicago-Naperville-Joliet, IL -IN -W I..................................................
Chico, C A ................................................................................................
Cincinnati-Middletown, O H -K Y -IN .....................................................
Clarksville, T N -K Y .................................................................................
Cleveland, T N .........................................................................................
Cleveland-Elyria-Mentor, O H ..............................................................
Coeur d’Alene, ID ..................................................................................
College Station-Bryan, T X ..................................................................
Colorado Springs, C O ..........................................................................
Columbia, M O ........................................................................................
Columbia, S C .........................................................................................
Columbus, G A -A L .................................................................................
Columbus, IN ..........................................................................................
Columbus, O H ........................................................................................
Corpus Christi, T X .................................................................................
Corvallis, O R ..........................................................................................
Cumberland, M D -W V ...........................................................................
Boise
See the footnotes at the end of the table.
4,520
20,152
7,997
2,368
56,746
11,129
2,719
2,386
1.8
6.5
6.3
10.3
6.2
1.6
5.3
7.2
7.2
3.6
0.6
6.2
5.6
10.6
8.2
10.7
5.1
6.0
6.1
5.3
2.1
2.6
3.0
3.9
13.5
6.7
6.0
4.5
- 2 .0
4.4
9.9
7.9
7.6
5.4
5.2
5.3
4.5
5.1
14.3
4.4
3.9
9.6
7.7
7.2
4.7
6.4
9.3
2.5
5.1
8.4
-1 .0
3.5
4.6
8.1
3.1
4.5
9.4
8.3
5.7
5.8
7.1
6.0
6.7
5.0
7.8
6.6
4.8
31,001
30,771
33,156
34,777
29,353
33,814
24,775
26,038
235
101
342
59
155
207
99
270
215
160
34
266
299
43
268
109
208
322
85
95
343
250
81
337
26
252
14
192
233
254
198
212
137
106
239
71
116
345
315
132
131
7
10
269
13
49
1
362
151
130
288
72
240
39
31
21
108
226
148
165
60
53
184
46
30
296
79
179
301
70
260
341
120
194
158
178
105
84
191
91
334
4.2
11.2
3.3
4.4
5.1
6.2
5.5
2.7
5.4
8.7
1.6
4.0
7.5
-1 .6
4.3
June 2008
D-75
S u r v e y o f C u r r e n t B u s in e s s
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2004-2006—Continues
Personal income
Area
Per capita personal income
Percent change from
preceding period 2
Millions of dollars
2004
2005
2006
203,669
3,428
2,034
2,674
11,727
25,808
4,136
3 ,449
12,964
93,971
221,192
3,526
2,022
2,720
12,099
26,685
4,326
3,575
13,778
100,447
238,858
3,674
2,100
2,764
12,814
27,823
4,542
3,723
14,683
18,769
161,152
3,667
3,770
2,655
7,999
15,209
4,181
3,219
3,097
5,828
2,306
15,647
7,461
9,289
10,854
2,736
5,774
2,736
9,731
10,753
3,259
11,979
5,212
3,470
3,036
8,748
6,976
5,994
12,080
21,745
2 ,573
6 ,808
4,135
3,447
2,834
2 ,700
3,449
23,511
2,352
5,264
9,326
20,061
4,165
16,529
6,579
6,780
2,967
17,527
2,820
48,156
3,081
9,156
1,495
7,425
31,244
2,461
5,086
194,828
7,025
11,363
2,967
56,622
4,504
2,748
4,277
15,156
2,992
40,510
4,338
4,330
4,021
4,666
3,725
2,642
4,088
19,745
167,565
3,894
4,006
2,773
8,096
15,983
4,412
3,396
3,254
6,160
2,437
17,156
7,677
9,812
11,335
3,025
6,156
3,010
10,740
11,725
3,493
12,131
5,441
3,653
3,124
9,354
7,458
6,425
12,415
22,752
2,673
7,359
4,548
3,611
2,925
2,822
3,748
24,593
2,426
5,713
9,636
21,016
2005
2006
Rank in
United
States
Dollars
2004
2005
2006
2006
Percent change from
preceding period
2005
2006
M etro p o litan S tatistical A r e a s 4— Continued
Dallas-Fort Worth-Arlington, T X ........................................................
Dalton, G A ...............................................................................................
Danville, IL...............................................................................................
Danville, V A ............................................................................................
Davenport-Moline-Rock Island, IA -IL ..............................................
Dayton, O H .............................................................................................
Decatur, A L ............................................................................................
Decatur, IL ...............................................................................................
Deltona-Daytona Beach-Ormond Beach, F L ................................
Denver-Aurora, C O ...............................................................................
Des Moines-West Des Moines, IA ....................................................
Detroit-Warren-Livonia, M l .................................................................
Dothan, A L .............................................................................................
Dover, D E ................................................................................................
Dubuque, I A ...........................................................................................
Duluth, M N -W I........................................................................................
Durham, N C ...........................................................................................
Eau Claire, W l........................................................................................
El Centro, C A .........................................................................................
Elizabethtown, K Y ................................................................................
Elkhart-Goshen, I N ..............................................................................
Elmira, N Y ...............................................................................................
El Paso, T X ..............................................................................................
Erie, PA.....................................................................................................
Eugene-Springfield, O R ......................................................................
Evansville, IN -K Y ...................................................................................
Fairbanks, A K .........................................................................................
Fargo, N D -M N ........................................................................................
Farmington, N M .....................................................................................
Fayetteville, N C .....................................................................................
Fayetteville-Springdale-Rogers, A R -M O ........................................
Flagstaff, A Z ...........................................................................................
Flint, M l ....................................................................................................
Florence, S C ..........................................................................................
Florence-Muscle Shoals, A L ..............................................................
Fond du Lac, W l ....................................................................................
Fort Collins-Loveland, C O ..................................................................
Fort Smith, A R -O K ...............................................................................
Fort Walton Beach-Crestview-Destin, F L .......................................
Fort Wayne, I N ......................................................................................
Fresno, C A ..............................................................................................
Gadsden, A L ..........................................................................................
Gainesville, F L ......................................................................................
Gainesville, G A .....................................................................................
Glens Falls, N Y .....................................................................................
Goldsboro, N C ........................................................................................
Grand Forks, N D -M N ...........................................................................
Grand Junction, C O ..............................................................................
Grand Rapids-Wyoming, M l...............................................................
Great Falls, M T ......................................................................................
Greeley, C O ............................................................................................
Green Bay, W l .......................................................................................
Greensboro-High Point, N C ...............................................................
Greenville, N C ........................................................................................
Greenville-Mauldin-Easley, S C ..........................................................
Gulfport-Biloxi, M S ...............................................................................
Hagerstown-Martinsburg, M D -W V ...................................................
Hanford-Corcoran, C A ..........................................................................
Harrisburg-Carlisle, PA........................................................................
Harrisonburg, V A ...................................................................................
Hartford-West Hartford-East Hartford, C T ......................................
Hattiesburg, M S ....................................................................................
Hickory-Lenoir-Morganton, N C .........................................................
Hinesville-Fort Stewart, G A ................................................................
Holland-Grand Haven, M l...................................................................
Honolulu, H I ...........................................................................................
Hot Springs, A R ....................................................................................
Houma-Bayou Cane-Thibodaux, L A ...............................................
Houston-Sugar Land-Baytown, T X ...................................................
Huntington-Ashland, W V -K Y -O H .......................................................
Huntsville, A L .........................................................................................
Idaho Falls, I D ........................................................................................
Indianapolis-Carmel, IN .......................................................................
Iowa City, IA ............................................................................................
Ithaca, N Y ...............................................................................................
Jackson, M l............................................................................................
Jackson, M S ...........................................................................................
Jackson, T N ...........................................................................................
Jacksonville, F L .....................................................................................
Jacksonville, N C ....................................................................................
Janesville, W l .........................................................................................
Jefferson City, M O .................................................................................
Johnson City, T N ...................................................................................
Johnstown, PA........................................................................................
Jonesboro, A R ........................................................................................
Joplin, M O ...............................................................................................
See the footnotes at the end of the table.
4,439
17,528
6,446
7,260
3,109
18,210
3,010
50,523
3,271
9,573
1,615
7,890
33,684
2,667
5,291
216,765
7,301
12,174
3,236
59,477
4,662
2,815
4,453
16,164
3,131
44,281
4,895
4,455
4,215
4,859
3,870
2,775
4,259
107,788
21,118
171,339
4,147
4,234
2,924
8,533
17,216
4,659
3,592
3,490
6,429
2,586
18,123
8,046
10,483
11,986
3,292
6,557
3,306
11,442
12,625
3,767
12,616
5,799
3,852
3,251
9,968
8,020
6,862
13,057
23,980
2,799
7,854
4,846
3,822
3,093
2,945
4,122
25,635
2,599
6,120
10,038
22,346
4,776
18,615
7,092
7,765
3,329
19,097
3,147
53,147
3,583
10,175
1,685
8,261
35,954
2,896
6,345
237,784
7,719
13,114
3,509
63,030
4,957
3,001
4,583
17,152
3,262
47,972
5,174
4,802
4,390
5,117
4,051
2,947
4,485
8.6
2.9
- 0 .6
1.7
3.2
3.4
4.6
3.7
6.3
6.9
5.2
4.0
6.2
6.3
4.4
1.2
5.1
5.5
5.5
5.1
5.7
5.7
9.6
2.9
5.6
4.4
10.6
6.6
10.0
10.4
9.0
7.2
1.3
4.4
5.3
2.9
6.9
6.9
7.2
2.8
4.6
3.9
8.1
10.0
4.8
3.2
4.5
8.7
4.6
3.1
8.5
3.3
4.8
6.6
6.0
- 2 .0
7.1
4.8
3.9
6.7
4.9
6.2
4.6
8.0
6.3
7.8
8.4
4.0
11.3
3.9
7.1
9.0
5.0
3.5
2.4
4.1
6.7
4.6
9.3
12.8
2.9
4.8
4.1
3.9
5.0
4.2
8.0
4.2
3.8
1.6
5.9
4.3
5.0
4.1
6.6
7.3
7.0
2.3
6.5
5.7
5.4
5.4
7.7
5.6
5.8
7.3
4.4
6.1
5.6
4.8
6.8
5.7
8.8
6.5
9.9
6.5
7.7
7.8
4.0
6.6
5.5
4.1
6.6
7.5
6.8
5.2
5.4
4.7
6.7
6.6
5.8
5.7
4.4
10.0
4.2
7.2
7.1
4.2
6.3
7.6
6.2
10.0
7.0
7.1
4.9
4.6
5.2
9.5
6.3
4.4
4.7
6.7
8.6
19.9
9.7
5.7
7.7
8.4
6.0
6.3
6.6
2.9
6.1
4.2
8.3
5.7
7.8
4.1
5.3
4.7
6.2
5.3
35,831
26,610
24,737
24,891
31,435
30,602
28,261
31,377
27,175
40,324
36,601
35,767
27,299
27,153
29,280
29,075
33,608
27,254
21,382
28,430
30,610
25,795
22,178
26,663
27,943
31,313
29,614
31,410
22,623
27,861
27,372
26,431
27,219
26,568
24,491
30,919
32,130
24,881
32,893
30,166
25,224
25,083
27,888
25,833
27,175
24,927
27,584
27,116
30,730
28,781
24,094
31,674
30,120
25,767
28,361
25,853
27,885
20,794
33,851
25,055
40,907
23,719
26,065
20,521
29,408
34,875
26,739
25,791
37,402
24,618
31,318
27,144
34,894
31,938
27,438
26,417
29,355
27,196
33,107
26,752
27,855
28,330
24,918
25,202
23,710
24,933
38,089
26,984
24,719
25,492
32,405
31,739
29,401
32,649
28,329
42,476
37,650
37,204
28,701
27,881
30,462
29,515
34,775
28,519
22,074
29,500
31,826
27,567
24,081
27,520
29,209
32,612
32,001
33,108
24,675
31,110
2 8,694
28,008
27,602
27,641
25,741
31,745
33,886
26,376
35,023
30,813
26,052
26,071
29,663
27,458
28,282
25,797
28,992
28,917
31,966
29,647
25,183
32,503
31,138
27,030
29,715
25,101
29,071
21,609
34,992
26,329
42,782
24,800
27,034
21,844
30,995
37,343
28,592
26,764
40,734
25,652
32,949
28,879
36,160
32,706
28,088
27,370
30,977
28,260
35,439
30,619
28,467
29,363
25,709
26,347
24,640
25,647
39,924
27,720
25,700
26,008
34,236
33,195
30,683
34,133
29,615
44,691
39,418
38,119
30,147
28,616
31,959
31,152
36,693
29,837
22,769
31,524
32,723
29,320
24,977
28,767
30,825
34,378
34,722
34,639
27,155
32,817
29,807
29,879
28,803
29,328
27,025
32,923
35,397
27,985
37,497
32,127
27,081
27,194
30,971
28,110
29,799
27,417
30,093
30,746
33,172
31,740
26,002
33,627
32,539
28,280
30,998
31,171
30,289
22,771
36,395
27,120
44,835
26,469
28,500
23,510
32,122
39,653
30,400
31,562
43,174
27,145
34,689
30,396
37,735
34,272
29,857
28,100
32,287
29,066
37,519
31,942
30,356
30,325
26,735
27,733
25,705
26,601
42
307
339
335
122
143
213
124
245
18
48
61
225
279
173
197
78
236
356
190
156
253
347
275
206
114
110
112
317
152
237
231
273
250
321
150
98
298
68
169
320
316
203
293
238
311
227
211
144
183
336
134
161
287
202
196
221
355
80
319
17
330
284
353
170
45
217
188
25
318
111
218
64
119
234
294
164
262
67
176
219
220
325
305
338
327
6.3
1.4
-0 .1
2.4
3.1
3.7
4.0
4.1
4.2
5.3
2.9
4.0
5.1
2.7
4.0
1.5
3.5
4.6
3.2
3.8
4.0
6.9
8.6
3.2
4.5
4.1
8.1
5.4
9.1
11.7
4.8
6.0
1.4
4.0
5.1
2.7
5.5
6.0
6.5
2.1
3.3
3.9
6.4
6.3
4.1
3.5
5.1
6.6
4.0
3.0
4.5
2.6
3.4
4.9
4.8
- 2 .9
4.3
3.9
3.4
5.1
4.6
4.6
3.7
6.4
5.4
7.1
6.9
3.8
8.9
4.2
5.2
6.4
3.6
2.4
2.4
3.6
5.5
3.9
7.0
14.5
2.2
3.6
3.2
4.5
3.9
2.9
4.8
2.7
4.0
2.0
5.7
4.6
4.4
4.5
4.5
5.2
4.7
2.5
5.0
2.6
4.9
5.5
5.5
4.6
3.1
6.9
2.8
6.4
3.7
4.5
5.5
5.4
8.5
4.6
10.1
5.5
3.9
6.7
4.4
6.1
5.0
3.7
4.5
6.1
7.1
4.3
3.9
4.3
4.4
2.4
5.4
6.3
3.8
6.3
3.8
7.1
3.3
3.5
4.5
4.6
4.3
24.2
4.2
5.4
4.0
3.0
4.8
6.7
5.4
7.6
3.6
6.2
6.3
17.9
6.0
5.8
5.3
5.3
4.4
4.8
6.3
2.7
4.2
2.9
5.9
4.3
6.6
3.3
4.0
5.3
4.3
3.7
D-76
Regional Data
June 2008
T a b le J . 1 . P e r s o n a l I n c o m e a n d P e r C a p i t a P e r s o n a l I n c o m e b y M e t r o p o l i t a n A r e a , 2 0 0 4 - 2 0 0 6 — C o n t in u e s
Personal income
Percent change from
preceding period 2
Millions of dollars
Area
2004
2005
9,472
2,852
66,197
5,973
9,337
7,815
5,190
19,229
3,003
3,735
4,796
7,081
5,092
3,755
14,435
15,122
13,269
3,882
4,030
54,976
2,871
2,962
3,732
1,595
3,045
13,769
2,849
8,937
20,014
2,435
5,572
2,400
452,201
39,284
6,787
6,406
6,458
3,003
19,641
15,358
3,328
10,209
5,502
40,760
5,359
189,818
2,861
4,543
54,933
127,551
2,926
9,624
12,868
4,453
4,564
10,657
3,045
3,030
3,387
3,017
4,346
5,616
5,469
14,843
48,574
31,944
40,660
813,200
4,595
10,121
7,463
3,739
2,916
12,825
35,762
7,367
29,023
56,014
5,002
2,922
30,438
9,814
2,896
69,531
6,214
10,544
8,058
5,514
20,212
3,074
3,887
5,043
7,772
4,535
4,140
15,961
15,868
13,772
4,295
4,406
63,041
3,085
3,141
3,912
1,639
3,145
14,693
2,928
9,276
21,495
2,559
5,964
2,497
482,011
41,296
7,208
6,748
6,726
3,152
20,709
15,682
3,398
11,211
5,861
42,718
5,491
206,523
2,950
5,141
57,351
133,237
3,077
10,043
13,527
4,687
4,728
11,176
3,274
3,161
3,587
3,097
4,461
6,113
5,903
16,617
52,295
33,127
26,102
866,981
4,706
10,403
8,366
3,852
3,252
13,846
38,449
7,785
30,732
61,757
5,211
3,109
32,303
Per capita personal incom e’
2006
2005
2006
Rank in
United
States
Dollars
2004
2005
2006
2006
Percent change from
preceding period
2005
2006
M etro p o litan S ta tistical A r e a s 4— Continued
Kalamazoo-Portage, M l.......................................................................
Kankakee-Bradley, IL
Kansas City, M O -KS
....................................................................
Kennewick-Pasco-Richland, W A .......................................................
Killeen-Temple-Fort Hood, T X ...........................................................
Kingsport-Bristol-Bristol, T N -V A ........................................................
Kingston, N Y ..........................................................................................
Knoxville, T N ..........................................................................................
Kokomo, IN
La Crosse, W I-M N .................................................................................
Lafayette, I N ...........................................................................................
Lafayette, LA...........................................................................................
Lake Charles, L A ...................................................................................
Lake Havasu City-Kingman, A Z ........................................................
Lakeland-Winter Haven, F L ................................................................
Lancaster, PA
..................................................................................
Lansing-East Lansing, M l....................................................................
Laredo, T X ...............................................................................................
Las Cruces, N M .....................................................................................
Las Vegas-Paradise, N V ......................................................................
Lawrence, KS
Lawton, OK
Lebanon, PA
Lewiston, ID -W A ....................................................................................
Lewiston-Auburn, M E ...........................................................................
Lexington-Fayette, K Y ..........................................................................
Lima, O H .................................................................................................
Lincoln, NE
Little Rock-North Little Rock-Conway, A R ......................................
Logan, U T -ID ..........................................................................................
Longview, T X ..........................................................................................
Longview, W A .........................................................................................
Los Angeles-Long Beach-Santa Ana, C A ......................................
Louisville-Jefferson County, KY-IN....................................................
Lubbock, T X ...........................................................................................
Lynchburg, V A ........................................................................................
Macon, G A ..............................................................................................
Madera, C A .............................................................................................
Madison, W l ...........................................................................................
Manchester-Nashua, N H .....................................................................
Mansfield, O H .........................................................................................
McAllen-Edinburg-Mission, T X ..........................................................
Medford, O R ...........................................................................................
Memphis, T N -M S -A R ...........................................................................
Merced, C A .............................................................................................
Miami-Fort Lauderdale-Pompano Beach, F L ................................
Michigan City-La Porte, I N .................................................................
Midland, T X ............................................................................................
Milwaukee-Waukesha-West Allis, W l ..............................................
Minneapolis-St. Paul-Bloomington, M N -W I....................................
Missoula, M T ..........................................................................................
Mobile, AL
Modesto, C A ...........................................................................................
Monroe, L A ..............................................................................................
Monroe, M l ..............................................................................................
Montgomery, A L ....................................................................................
Morgantown, W V ...................................................................................
Morristown, T N .......................................................................................
Mount Vernon-Anacortes, W A ...........................................................
Muncie, I N ...............................................................................................
Muskegon-Norton Shores, M l ...........................................................
Myrtle Beach-North Myrtle Beach-Conway, S C ...........................
Napa, C A .................................................................................................
Naples-Marco Island, F L .....................................................................
Nashville-Davidson-Murfreesboro-Franklin, T N ...........................
New Haven-Milford, C T .......................................................................
New Orleans-Metairie-Kenner, LA ....................................................
New York-Northern New Jersey-Long Island, NY-NJ-PA............
Niles-Benton Harbor, M l ......................................................................
Norwich-New London, C T ..................................................................
Ocala, F L .................................................................................................
Ocean City, N J ........................................................................................
Odessa, TX
Ogden-Clearfield, U T ...........................................................................
Oklahoma City, O K ................................................................................
Olympia, W A ...........................................................................................
Omaha-Council Bluffs, N E -IA ............................................................
Orlando-Kissimmee, FL.......................................................................
Oshkosh-Neenah, W l ...........................................................................
Owensboro, K Y .....................................................................................
Oxnard-Thousand Oaks-Ventura, C A ..............................................
See the footnotes at the end of the table.
10,281
3,027
73,692
6,428
11,648
8,515
5,966
21,537
3,196
4,107
5,249
8,723
5,777
4,513
17,309
16,572
14,546
4,580
4,712
68,032
3,280
3,491
4,109
1,737
3,240
15,643
3,032
9,776
23,055
2,684
6,491
2,647
513,123
43,935
7,643
7,134
7,044
3,250
21,963
16,593
3,485
12,003
6,256
45,108
5,615
220,610
3,077
6,011
60,906
140,320
3,282
11,001
14,097
4,920
4,986
11,971
3,510
3,307
3,873
3,208
4,628
6,667
6,242
17,990
56,135
34,964
39,829
935,178
4,949
10,809
9,119
4,009
3,671
14,938
4 1,907
8,371
32,917
66,129
5,457
3,255
33,940
3.6
1.6
5.0
4.0
12.9
3.1
6.3
5.1
2.4
4.1
5.2
9.8
-1 0 .9
10.2
10.6
4.9
3.8
10.6
9.3
14.7
7.4
6.1
4.8
2.8
3.3
6.7
2.8
3.8
7.4
5.1
7.0
4.0
6.6
5.1
6.2
5.3
4.2
5.0
5.4
2.1
2.1
9.8
6.5
4.8
2.4
8.8
3.1
13.1
4.4
4.5
5.2
4.4
5.1
5.3
3.6
4.9
7.5
4.3
5.9
2.6
2.6
8.9
7.9
11.9
7.7
3.7
-3 5 .8
6.6
2.4
2.8
12.1
3.0
11.5
8.0
7.5
5.7
5.9
10.3
4.2
6.4
6.1
4.8
4.5
6.0
3.4
10.5
5.7
8.2
6.6
4.0
5.7
4.1
12.2
27.4
9.0
8.4
4.4
5.6
6.6
7.0
7.9
6.3
11.2
5.0
6.0
3.0
6.5
3.6
5.4
7.3
4.9
8.8
6.0
6.5
6.4
6.0
5.7
4.7
3.1
6.1
5.8
2.6
7.1
6.7
5.6
2.3
6.8
4.3
16.9
6.2
5.3
6.6
9.5
4.2
5.0
5.5
7.1
7.2
4.6
8.0
3.6
3.7
9.1
5.7
8.3
7.3
5.5
52.6
7.9
5.2
3.9
9.0
4.1
12.9
7.9
9.0
7.5
7.1
7.1
4.7
4.7
5.1
29,569
26,616
34,430
27,945
26,789
26,140
28,644
29,660
29,825
28,975
26,082
28,835
26,271
21,046
27,696
31,125
29,014
17,916
21,736
33,365
26,455
26,048
30,161
27,212
28,607
32,229
26,910
31,744
31,405
21,294
28,052
25,154
35,170
32,751
26,067
27,497
28,428
21,890
36,760
38,696
26,093
15,706
28,658
32,771
22,894
35,668
26,330
38,101
35,850
40,998
29,004
24,209
26,075
26,007
30,193
30,148
26,470
23,624
30,711
25,615
25,095
25,745
41,895
50,196
34,285
38,020
30,995
43,414
28,489
37,917
25,745
37,398
23,615
26,639
31,314
32,955
36,220
29,994
31,466
26,441
38,449
30,581
26,840
35,839
28,387
29,734
26,830
30,367
30,713
30,545
30,050
27,084
31,408
23,363
22,345
29,625
32,422
30,123
19,342
23,216
36,893
27,659
28,055
31,311
27,781
2 9,483
33,922
27,719
32,526
33,289
21,906
29,862
25,914
37,441
34,162
27,529
28,556
29,522
22,429
38,281
39,287
26,749
16,738
30,133
34,052
22,995
38,342
27,005
42,615
37,361
42,457
30,101
25,211
26,995
27,405
31,029
31,356
28,203
24,312
3 1,962
26,535
25,626
26,745
45,223
54,166
36,056
39,354
19,926
46,221
29,361
39,181
27,720
39,059
26,115
28,148
33,243
34,204
37,869
31,828
32,572
28,046
40,845
31,896
27,718
37,566
2 8,735
32,575
28,222
32,811
32,132
31,949
31,594
27,724
34,250
30,224
23,548
31,018
33,556
31,848
20,127
24,293
38,281
29,137
31,065
32,495
29,152
30,275
35,487
28,793
33,887
35,070
22,663
32,178
26,781
39,880
36,000
28,834
29,661
30,757
22,580
40,088
41,368
27,575
17,409
31,785
35,470
23,182
40,737
28,158
48,644
39,536
44,237
31,535
27,360
27,811
28,511
32,521
32,987
30,011
25,019
33,825
27,735
26,560
27,809
47,491
57,446
37,758
41,454
40,211
49,789
3 1,017
40,300
29,012
41,068
28,989
29,650
35,637
35,903
40,106
33,092
33,874
29,226
42,746
180
308
66
277
159
290
153
168
174
187
306
121
224
352
200
136
181
361
349
56
259
199
163
258
222
94
274
126
104
357
167
324
44
87
271
243
210
358
41
33
310
363
182
96
354
36
291
11
47
20
189
312
302
282
162
149
228
346
128
304
328
303
12
3
63
32
38
9
201
37
264
35
267
244
92
88
40
145
127
257
28
3.4
0.8
4.1
1.6
11.0
2.6
6.0
3.6
2.4
3.7
3.8
8.9
-1 1 .1
6.2
7.0
4.2
3.8
8.0
6.8
10.6
4.6
7.7
3.8
2.1
3.1
5.3
3.0
2.5
6.0
2.9
6.5
3.0
6.5
4.3
5.6
3.9
3.8
2.5
4.1
1.5
2.5
6.6
5.1
3.9
0.4
7.5
2.6
11.8
4.2
3.6
3.8
4.1
3.5
5.4
2.8
4.0
6.5
2.9
4.1
3.6
2.1
3.9
7.9
7.9
5.2
3.5
-3 5 .7
6.5
3.1
3.3
7.7
4.4
10.6
5.7
6.2
3.8
4.6
6.1
3.5
6.1
6.2
4.3
3.3
4.8
1.2
9.6
5.2
8.0
4.6
4.6
5.1
2.4
9.0
29.4
5.4
4.7
3.5
5.7
4.1
4.6
3.8
5.3
10.7
3.8
4.9
2.7
4.6
3.9
4.2
5.4
3.5
7.8
3.3
6.5
5.4
4.7
3.9
4.2
0.7
4.7
5.3
3.1
4.0
5.5
4.2
0.8
6.2
4.3
14.1
5.8
4.2
4.8
8.5
3.0
4.0
4.8
5.2
6.4
2.9
5.8
4.5
3.6
4.0
5.0
6.1
4.7
5.3
101.8
7.7
5.6
2.9
4.7
5.1
11.0
5.3
7.2
5.0
5.9
4.0
4.0
4.2
4.7
June 2008
D-77
S u r v e y o f C u r r e n t B u s in e s s
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2004-2006—Continues
Personal income
Area
Per capita personal income 1
Percent change from
preceding period 2
Millions of dollars
2004
2005
2006
15,785
1,817
4,524
4,256
3,791
11,734
11,685
225,703
115,438
2,378
83,116
4,619
2,041
17,625
69,328
12,482
21,309
4,525
54,732
8,719
3,715
4,433
6,317
31,533
3,688
11,907
4,970
15,655
40,608
9 6,756
9,107
6,328
33,929
9,281
3,821
2,545
67,937
5,548
5,076
2,365
3,094
95,325
10,060
14,096
3,075
31,702
2,884
53,669
113,003
2,546
207,951
83,603
8,334
15,382
10,195
4,907
18,040
9,477
16,163
133,157
5,871
3,718
2,846
10,913
4,068
7,130
9,700
6,850
12,184
6,792
21,231
10,433
3,891
3,871
16,556
2,504
17,023
2,148
4,909
4,309
3,919
12,580
12,319
237,201
126,848
2,433
85,876
4,797
2,100
18,124
73,087
13,580
22,649
5,033
57,029
9,801
3,816
4,736
6,475
34,010
3,814
12,449
5,155
16,669
43,550
104,067
9,437
6 ,504
35,424
9,618
3,886
2,705
71,974
5,630
5,215
2,784
3,208
99,882
10,327
14,772
3,250
35,098
3,045
58,722
118,793
2,582
224,702
89,926
8,768
16,500
10,519
5,516
18,926
10,290
16,724
135,770
6,387
3,850
3,015
11,659
4,155
7,578
10,027
7,221
12,573
6,787
22,210
11,165
3,988
4,069
17,257
2,603
20,374
18,130
2,391
5,267
4,555
4,214
13,482
13,237
251,979
138,465
2,554
91,101
5,049
2,221
18,938
78,618
14,744
24,096
5,538
59,425
10,669
4,009
5,129
6,853
37,242
3,990
13,331
5,491
17,834
45,699
111,596
9,921
6,858
37,300
10,189
4,058
2,827
76,481
5,851
5,476
3,087
3,426
105,191
11,057
15,586
3,399
37,883
3,195
63,546
126,194
2,659
240,484
97,685
9,334
17,490
11,322
5,977
20,038
11,112
17,558
148,015
7,002
4,036
3,231
12,367
4,325
7,983
10,459
7,628
13,541
7,075
23,103
11,710
4,161
4,313
18,125
2,732
21,465
2005
2006
Rank in
United
States
Dollars
2004
2005
2006
2006
Percent change from
preceding period
2005
2006
M etro p o litan S tatistical A r e a s 4— Continued
Palm Bay-Melbourne-Titusville, F L ..................................................
Palm Coast, FL......................................................................................
Panama City-Lynn Haven, FL............................................................
Parkersburg-Marietta-Vienna, W V -O H ............................................
Pascagoula, M S ....................................................................................
Pensacola-Ferry Pass-Brent, F L ......................................................
Peoria, IL .................................................................................................
Philadelphia-Camden-Wilmington, P A -N J-D E -M D .......................
Phoenix-Mesa-Scottsdale, A Z ...........................................................
Pine Bluff, A R .........................................................................................
Pittsburgh, PA.........................................................................................
Pittsfield, M A ..........................................................................................
Pocatello, I D ...........................................................................................
Portland-South Portland-Biddeford, M E .........................................
Portland-Vancouver-Beaverton, O R -W A ........................................
Port St. Lucie, FL...................................................................................
Poughkeepsie-Newburgh-Middletown, N Y .....................................
Prescott, A Z ...........................................................................................
Providence-New Bedford-Fall River, R I-M A ..................................
Provo-Orem, U T ....................................................................................
Pueblo, C O .............................................................................................
Punta Gorda, FL....................................................................................
Racine, W l...............................................................................................
Raleigh-Cary, N C ..................................................................................
Rapid City, S D ........................................................................................
Reading, PA............................................................................................
Redding, C A ...........................................................................................
Reno-Sparks, N V ..................................................................................
Richmond, VA.........................................................................................
Riverside-San Bernardino-Ontario, C A ..........................................
Roanoke, V A ..........................................................................................
Rochester, M N .......................................................................................
Rochester, N Y ........................................................................................
Rockford, IL ............................................................................................
Rocky Mount, N C ..................................................................................
Rome, G A ...............................................................................................
Sacram ento-Arden-Arcade-Roseville, C A ......................................
Saginaw-Saginaw Township North, M l............................................
St. Cloud, M N .........................................................................................
St. George, U T ......................................................................................
St. Joseph, M O -K S ..............................................................................
St. Louis, M O -IL ....................................................................................
Salem, O R ...............................................................................................
Salinas, C A ............................................................................................
Salisbury, M D .........................................................................................
Salt Lake City, U T ..................................................................................
San Angelo, T X .....................................................................................
San Antonio, T X ....................................................................................
San Diego-Carlsbad-San Marcos, C A ............................................
Sandusky, O H .......................................................................................
San Francisco-Oakland-Fremont, C A .............................................
San Jose-Sunnyvale-Santa Clara, C A ............................................
San Luis Obispo-Paso Robles, C A ...................................................
Santa Barbara-Santa Maria-Goleta, C A .........................................
Santa Cruz-W atsonville, C A ...............................................................
Santa Fe, N M .........................................................................................
Santa Rosa-Petaluma, C A .................................................................
Savannah, G A ........................................................................................
Scranton-Wilkes-Barre, PA.................................................................
Seattle-Tacoma-Bellevue, W A ...........................................................
Sebastian-Vero Beach, F L .................................................................
Sheboygan, W l......................................................................................
Sherman-Denison, T X ........................................................................
Shreveport-Bossier City, L A ...............................................................
Sioux City, IA -N E -S D ............................................................................
Sioux Falls, S D ......................................................................................
South Bend-Mishawaka, IN -M I..........................................................
Spartanburg, S C ...................................................................................
Spokane, W A .........................................................................................
Springfield, IL .........................................................................................
Springfield, M A ......................................................................................
Springfield, M O .....................................................................................
Springfield, O H ......................................................................................
State College, P A ..................................................................................
Stockton, C A ..........................................................................................
Sumter, S C ..............................................................................................
Syracuse, N Y .........................................................................................
See the footnotes at the end of the table.
19,521
7.8
18.2
8.5
1.3
3.4
7.2
5.4
5.1
9.9
2.3
3.3
3.9
2.9
2.8
5.4
8.8
6.3
11.2
4.2
12.4
2.7
6.8
2.5
7.9
3.4
4.6
3.7
6.5
7.2
7.6
3.6
2.8
4.4
3.6
1.7
6.3
5.9
1.5
2.8
17.7
3.7
4.8
2.7
4.8
5.7
10.7
5.6
9.4
5.1
1.4
8.1
7.6
5.2
7.3
3.2
12.4
4.9
8.6
3.5
2.0
8.8
3.5
6.0
6.8
2.1
6.3
3.4
5.4
3.2
-0 .1
4.6
7.0
2.5
5.1
4.2
4.0
4.4
6.5
11.3
7.3
5.7
7.5
7.2
7.5
6.2
9.2
5.0
6.1
5.3
5.8
4.5
7.6
8.6
6.4
10.0
4.2
8.9
5.1
8.3
5.8
9.5
4.6
7.1
6.5
7.0
4.9
7.2
5.1
5.4
5.3
5.9
4.4
4.5
6.3
3.9
5.0
10.9
6.8
5.3
7.1
5.5
4.6
7.9
4.9
8.2
6.2
3.0
7.0
8.6
6.5
6.0
7.6
8.4
5.9
8.0
5.0
9.0
9.6
4.8
7.1
6.1
4.1
5.3
4.3
5.6
7.7
4.3
4.0
4.9
4.3
6.0
5.0
4.9
5.4
30,562
26,632
28,656
26,203
24,525
26,654
31,908
39,066
30,998
22,735
34,775
35,034
23,784
34,584
33,657
34,432
32,324
23,858
33,829
19,686
24,947
28,380
32,844
34,318
31,350
30,593
28,144
40,646
35,153
25,729
31,359
36,288
32,723
27,679
26,584
27,102
33,774
26,682
28,283
21,426
25,356
34,529
27,367
34,224
26,910
31,032
27,058
29,047
38,452
32,468
50,209
48,109
32,479
38,138
40,528
35,529
38,793
30,527
29,429
42,030
47,286
32,829
24,722
28,740
28,614
34,148
30,708
26,057
28,002
33,178
31,016
26,549
27,472
27,390
25,725
23,796
30,009
32,314
28,474
30,378
26,643
25,248
28,267
33,540
40,948
32,660
23,456
36,159
36,614
24,358
35,425
34,921
36,086
3 4,164
2 5,460
35,412
21,127
2 5,438
30,886
33,404
35,585
32,287
31,617
29,010
42,219
37,082
26,818
32,308
36,886
34,294
28,311
27,004
28,705
35,318
27,246
28,741
23,353
26,345
35,991
27,699
36,137
28,016
33,469
28,519
31,189
40,383
33,171
54,191
51,277
33,959
40,968
42,017
39,522
40,821
32,730
30,476
42,356
50,369
33,861
26,046
30,543
29,444
35,276
31,741
27,179
28,544
33,083
32,475
27,860
28,157
28,696
26,239
24,831
31,445
34,081
29,001
32,081
28,285
28,156
29,880
35,887
43,364
34,215
24,838
38,550
38,774
25,490
37,000
36,845
37,937
36,164
26,786
37,040
22,187
26,363
33,510
35,209
37,221
33,498
33,432
30,762
44,337
38,233
27,936
33,693
38,341
36,179
29,502
28,071
29,730
37,078
28,550
29,864
24,248
28,032
37,652
29,107
38,373
28,737
35,145
29,680
32,810
42,801
34,292
57,747
55,020
35,872
43,510
45,194
42,363
43,318
34,563
32,002
45,369
54,045
35,419
27,591
31,941
30,450
36,017
33,082
28,261
30,266
34,365
33,815
28,518
29,463
29,910
27,272
26,242
33,198
125
265
171
286
292
230
89
23
123
348
52
50
340
76
77
62
83
323
75
359
332
138
100
73
139
141
209
19
57
300
133
55
82
247
295
241
74
280
232
350
297
65
261
54
276
102
242
154
27
118
2
4
90
22
16
29
24
113
172
15
5
97
309
177
216
86
146
289
223
115
129
281
248
229
314
333
142
5.7
6.9
6.0
1.7
2.9
6.1
5.1
4.8
5.4
3.2
4.0
4.5
2.4
2.4
3.8
4.8
5.7
6.7
4.7
7.3
2.0
8.8
1.7
3.7
3.0
3.3
3.1
3.9
5.5
4.2
3.0
1.6
4.8
2.3
1.6
5.9
4.6
2.1
1.6
9.0
3.9
4.2
1.2
5.6
4.1
7.9
5.4
7.4
5.0
2.2
7.9
6.6
4.6
7.4
3.7
11.2
5.2
7.2
3.6
0.8
6.5
3.1
5.4
6.3
2.9
3.3
3.4
4.3
1.9
- 0 .3
4.7
4.9
2.5
4.8
2.0
4.3
4.8
5.5
1.9
5.6
6.2
11.5
5.7
7.0
5.9
4.8
5.9
6.6
5.9
4.6
4.4
5.5
5.1
5.9
5.2
4.6
5.0
3.6
8.5
5.4
4.6
3.8
5.7
6.0
5.0
3.1
4.2
4.3
3.9
5.5
4.2
4.0
3.6
5.0
4.8
3.9
3.8
6.4
4.6
5.1
6.2
2.6
5.0
4.1
5.2
6.0
3.4
6.6
7.3
5.6
6.2
7.6
7.2
6.1
5.6
5.0
7.1
7.3
4.6
5.9
4.6
3.4
2.1
4.2
4.0
6.0
3.9
4.1
2.4
4.6
4.2
3.9
5.7
5.6
D-78
Regional Data
June 2008
Table J.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2004-2006—Table Ends
Per capita personal income 1
Personal income
Area
Percent change from
preceding period 2
Millions of dollars
2004
2005
9,468
82,518
4,231
3,410
19,647
6,635
15,896
25,171
29,014
5,347
5,601
7,819
2,917
13,091
3,142
4,053
51,844
9,194
5,642
3,349
239,506
4,783
3,906
3,224
2,771
3,963
18,727
4,246
3,193
8,585
3,224
14,079
27,327
5,597
12,352
15,794
3,851
3,527
10,209
89,013
4,323
3,601
20,184
6,903
16,631
27,496
31,043
5,782
6,070
8,086
3,102
13,654
3,295
4,176
54,862
9,615
6,081
3,590
258,222
4,958
4,109
3,258
2,864
4,097
20,170
4,461
3,213
9,380
3,460
14,599
2 8,498
5,753
13,162
16,234
4,004
3,807
2006
2005
2004
2006
Rank in
United
States
Dollars
2005
2006
2006
Percent change from
preceding period
2005
2006
M etro p o litan S tatistical A reas “— Continued
Tallahassee, F L ......................................................................................
Tampa-St. Petersburg-Clearwater, F L .............................................
Terre Haute, I N .......................................................................................
Texarkana, TX-Texarkana, A R ...........................................................
Toledo, O H ...............................................................................................
Topeka, K S ..............................................................................................
Trenton-Ewing, N J .................................................................................
Tucson, A Z ..............................................................................................
Tulsa, O K .................................................................................................
Tuscaloosa. A L .......................................................................................
Tyler, T X ..................................................................................................
Utica-Rome, N Y ....................................................................................
Valdosta, G A ..........................................................................................
Vallejo-Fairfield, C A ..............................................................................
Victoria, T X ..............................................................................................
Vineland-Millville-Bridgeton, N J ........................................................
Virginia Beach-Norfolk-Newport News, V A -N C ............................
Visalia-Porterville, C A ...........................................................................
Waco, T X .................................................................................................
Warner Robins, G A ..............................................................................
Washington-Arlington-Alexandrla, D C -V A -M D -W V .....................
W aterloo-Cedar Falls, I A .....................................................................
Wausau, W l.............................................................................................
Weirton-Steubenville, W V -O H ...........................................................
Wenatchee, W A .....................................................................................
Wheeling, W V -O H .................................................................................
Wichita, K S ..............................................................................................
Wichita Falls, T X ....................................................................................
Williamsport, P A ....................................................................................
Wilmington, N C ......................................................................................
Winchester, V A -W V ..............................................................................
Winston-Salem, N C ..............................................................................
Worcester, M A ........................................................................................
Yakima, W A .............................................................................................
York-Hanover, PA...................................................................................
Youngstown-Warren-Boardman, O H -PA ..........................................
Yuba City, C A ..........................................................................................
Yuma, A Z .................................................................................................
10,840
95,750
4,524
3,836
21,021
7,212
18,177
29,807
34,131
6,214
6,539
8,553
3,258
14,322
3,567
4,446
57,899
9,994
6,411
3,781
272,861
5,214
4,317
3,388
3,082
4,284
22,081
4,880
3,345
10,178
3,670
15,613
30,206
6,120
13,708
16,972
4,234
4,075
1. Per capita personal income was computed using Census Bureau midyear population estimates.
2. Percent change calculated from unrounded data.
3. The personal income level shown for the United States is derived as the sum of the county estimates. It
differs from the estimate of personal income in the national income and product accounts because of differ
ences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of
source data.
7.8
7.9
2.2
5.6
2.7
4.0
4.6
9.2
7.0
8.1
8.4
3.4
6.4
4.3
4.9
3.0
5.8
4.6
7.8
7.2
7.8
3.7
5.2
1.1
3.3
3.4
7.7
5.1
0.6
9.3
7.3
3.7
4.3
2.8
6.6
2.8
4.0
7.9
6.2
7.6
4.6
6.5
4.1
4.5
9.3
8.4
9.9
7.5
7.7
5.8
5.0
4.9
8.3
6.5
5.5
3.9
5.4
5.3
5.7
5.2
5.1
4.0
7.6
4.6
9.5
9.4
4.1
8.5
6.1
6.9
6.0
6.4
4.2
4.5
5.7
7.0
28,038
31,961
24,962
25,899
29,902
29,297
43,837
27,743
33,051
27,330
30,043
26,369
23,426
31,955
27,901
26,905
31,540
23,144
25,315
27,032
46,452
29,504
30,768
25,467
27,132
26,654
32,173
28,092
27,023
28,210
28,556
31,991
35,273
24,587
30,922
26,945
25,614
20,202
29,834
33,678
25,518
27,202
30,811
30,375
45,740
29,658
35,180
29,143
31,892
27,363
24,581
33,445
29,323
27,378
33,259
23,654
27,091
28,507
49,442
30,514
32,148
25,982
27,671
27,764
34,491
29,760
27,285
29,620
29,847
32,680
36,666
25,141
32,377
27,927
25,827
21,081
31,180
35,541
26,695
2 8,650
32,209
3 1,679
49,847
31.418
3 8,219
30,660
3 3,569
29,013
25,381
35,074
31,649
28,834
34,858
24,153
28,340
29,525
51,868
31,949
33,444
27,335
29,267
2 9,253
37,471
32,653
28,502
30,918
30,849
34,311
38,748
2 6,510
33,071
29,434
26,391
2 1,925
195
93
326
278
166
185
8
193
58
214
135
263
344
103
186
271
107
351
285
246
6
174
140
313
255
256
69
157
283
204
205
117
51
329
147
249
331
360
6.4
5.4
2.2
5.0
3.0
3.7
4.3
6.9
6.4
6.6
6.2
3.8
4.9
4.7
5.1
1.8
5.5
2.2
7.0
5.5
6.4
3.4
4.5
2.0
2.0
4.2
7.2
5.9
1.0
5.0
4.5
2.2
3.9
2.3
4.7
3.6
0.8
4.4
4.5
5.5
4.6
5.3
4.5
4.3
9.0
5.9
8.6
5.2
5.3
6.0
3.3
4.9
7.9
5.3
4.8
2.1
4.6
3.6
4.9
4.7
4.0
5.2
5.8
5.4
8.6
9.7
4.5
4.4
3.4
5.0
5.7
5.4
2.1
5.4
2.2
4.0
4. The metropolitan area definitions used by BEA for its personal income estimates are the new countybased definitions issued by the Office of Management and Budget in June 2003 (with revisions released
February 2004, March 2005, December 2005, December 2006, and November 2007) for federal statistical
purposes.
Source: Table 1 in “Local Area Personal Income for 2006” in the May 2008 Survey of Current Business.
June 2008
D-79
K. C h a rts
S E L E C T E D R E G IO N A L E STIM A TES
S H A R E S O F U .S . G R O S S
D O M E S T IC P R O D U C T B Y S T A T E B Y R E G IO N
S o u th w e s t
7 .3 %
1 1 .7 %
S H A R E S O F U .S . P E R S O N A L IN C O M E B Y R E G IO N
1 9 6 9
2 0 0 7
N e w E n g la n d
5 .8 %
N e w E n q la n d
6 .4 %
P la in s
7 .5 %
R o c k y M o u n ta in
2.2%
R o c k y M o u n ta in
3 .3 %
AVERAGE ANNUAL GROW TH
____
S o u th w e s t
11.0%
R A T E O F P E R S O N A L IN C O M E , 1 9 9 7 - 2 0 0 7
U .S . a v e r a g e
S T A T E S W IT H
FASTEST G RO W TH
U .S . a v e r a g e
5 .4 %
S T A T E S W IT H S L O W E S T G R O W T H
Nevada
Arizona
Wisconsin
Wyoming
Missouri
Texas
Pennsylvania
Utah
Indiana
Florida
Illinois
Colorado
Iowa
Idaho
West Virginia
Virginia
Ohio
New Mexico
Michigan
2
3
4
5
P e rc e n t
U.S. Bureau of Economic Analysis
5 .4 %
Nebraska
6
7
==1
5
P e rc e n t
6
7
June 2008
Regional Data
D-80
S E L E C T E D R E G IO N A L ESTIM A TES
P E R C A P IT A G R O S S
D O M E S T IC
P R O D U C T B Y S T A T E IN C U R R E N T D O L L A R S , 2 0 0 7
Rl
$ 4 4 ,3 3 6
CT
,7 5 0
$ 5 3 ,5 9 1
$ 4 7 ,8 2 3
DC
$ 1 5 9 ,4 7 6
U .S . = $ 4 5 , 5 6 4
H,
$ 4 7 ,9 4 5
~ j f ] H ig h e s t q u in tile
□
F o u rth q u in tile
n
T h ird q u in tile
□
S e c o n d q u in tile
□
L o w e s t q u in tile
P E R C A P IT A P E R S O N A L IN C O M E , 2 0 0 7
ME
$ 3 3 ,7 2 2
MA
$ 4 9 ,0 8 2
Rl
$ 3 9 ,4 6 3
CT
$ 4 9 ,1 9 4 $ 5 4 ’1 17
DE
$ 4 0 ,6 0 8
$ 4 6 ,0 2 1
DC
$ 6 1 ,0 9 2
U .S . = $ 3 8 ,6 1 1
HI
[~~§§ H ig h e s t q u in tile
$ 3 9 ,2 3 9
□
F o u rth q u in tile
□
T h ird q u in tile
□
S e c o n d q u in tile
L o w e s t q u in tile
U.S. Bureau of Economic Analysis
D-81
June 2008
A ppendixes
A . A d d itio n a l In fo rm a tio n A b o u t th e N IPA E s tim a te s
Statistical Conventions
Current-dollar GDP is a measure of the market value
of goods, services, and structures that are produced in
the economy in a particular period. The changes in cur
rent-dollar GDP can be decomposed into quantity and
price components. Quantities, or “real” measures, and
prices are expressed as index numbers with the reference
year—at present, the year 2000—equal to 100.1
The annual changes in quantities and prices are calcu
lated using a Fisher formula that incorporates weights
from 2 adjacent years. For example, the annual percent
change in real GDP for 2001-2002 uses prices for 2001
and 2002 as weights, and the 2001-2002 annual percent
change in the GDP price index uses quantities for 2001
and 2002 as weights. Because the Fisher formula allows
for the effects of changes in relative prices and in the
composition of output over time, the resulting quantity
or price changes are not affected by the substitution bias
that is associated with changes in quantities and prices
calculated using a fixed-weighted formula. These annual
changes are “chained” (multiplied) together to form time
series of quantity and price indexes. The percent changes
in the Fisher indexes are not affected by the choice of the
reference year.
BEA also publishes implicit price deflators (IPDs),
which are calculated as the ratio of the current-dollar
value of a component to the chained-dollar value of the
component, multiplied by 100. The values of an IPD are
very close to the values of the corresponding “chain-type”
price index.
The measures of real GDP and its major components
are also presented in dollar-denominated form, desig
nated “chained (2000) dollar estimates.” For most series,
these estimates are computed by multiplying the cur
rent-dollar value in 2000 by a corresponding quantity
index number and then dividing by 100. For example, if a
current-dollar GDP component equaled $100 in 2000
and if real output for this component increased by 10
percent in 2001, then the chained (2000) dollar value of
this component in 2001 would be $110 ($100 x 1.10).
The percent changes calculated from the chained (2000)
dollar estimates and from the quantity indexes are the
same; any differences will be small and due to rounding.
The chained-dollar values for the detailed GDP com
ponents will not necessarily sum to the chained-dollar
estimate of GDP (or to any intermediate aggregate) in a
table, because the relative prices that are used as weights
for any period other than the reference year differ from
those of the reference year. A measure of the effect of such
1. See J. S te v e n L a n d e fe ld , B r e n t R . M o u lt o n , a n d C in d y M . V o jte c h , “ C h a in e d D o lla r In d e x e s : Issu e s, T ip s o n T h e ir U se, a n d U p c o m in g C h a n g e s ,” S u r v e y o f C u r r e n t
B u s i n e s s (N o v e m b e r 2 0 0 3 ): 8 - 1 6 .
differences is provided by a “residual” line—the differ
ence between the chained-dollar value of the main aggre
gate in the table and the sum of the most detailed
components in the table. For periods close to the refer
ence year, when the relative prices that are used as weights
have usually not changed much, the residuals tend to be
small, and the chained-dollar estimates can be used to
approximate the contributions to growth and to aggre
gate the detailed estimates. For periods further from the
reference year, the residuals tend to be larger, and the
chained-dollar estimates are less useful for analyses of
contributions to growth. In particular, for components
for which relative prices are changing rapidly, the calcula
tion of contributions based on chained-dollar estimates
may be misleading even just a few years from the refer
ence year. Thus, contributions derived from quantity
indexes provide a better measure than contributions
derived from chained-dollar estimates; contributions
based on quantity indexes are shown in selected NIPA
tables 1.1.2, 1.2.2, 1.5.2, 2.3.2, 3.9.2, 4.2.2, and 5.3.2.
For quarters and months, NIPA estimates are pre
sented at annual rates, which show the value that would
be registered if the rate of activity that is measured for a
quarter or for a month were maintained for a full year.
Annual rates are used so that periods of different
lengths—for example, quarters and years—may be more
easily compared. These annual rates are determined sim
ply by multiplying the estimated rate of activity by 4 (for
quarterly data) or by 12 (for monthly data).
For most quarterly NIPA estimates, percent changes in
the estimates are also expressed at annual rates. Calculat
ing these changes requires a variant of the compound
interest formula:
\
r =
X<
m/h
- 1
X
1 0 0
where r is the percent change at an annual rate; xt is the
level of activity in the later period; is the level of activ
ity in the earlier period; m is the periodicity of the data
(for example, 1 for annual data, 4 for quarterly data, or 12
for monthly data); and n is the number of periods
between the earlier periods and the later periods (that
is, / - 0 ) .
Quarterly and monthly NIPA estimates are seasonally
adjusted if necessary. Seasonal adjustment removes from
the time series the average effects of variations that nor
mally occur at about the same time and in about the same
magnitude each year—for example, weather, holidays,
and tax payment dates. After seasonal adjustment, cycli
cal and other short-term changes in the economy stand
out more clearly.
Appendix A
D-82
June 2008
Reconciliation Table
Table 1. Relation of Net Exports of Goods and Services and Net Receipts of Income in the NIPAs
to Balance on Goods and Services and Income in the ITAs
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
2006
III
IV
I
II
III
IV
Exports of goods and services and income receipts, ITAs...................................................................
1 2,096.2 2,410.6 2,131.6 2,202.6 2,228.6 2,363.0 2,504.5 2,546.2
Less: Gold, ITAs.....................................................................................................................................
Statistical differences 1................................................................................................................
Other items...................................................................................................................................
2
3
4
8.8
0.0
1.2
13.3
10.2
1.5
9.6
0.0
1.2
9.0
0.0
1.0
10.6
-13.9
1.4
16.5
8.0
1.2
14.3
23.3
1.9
12.0
23.3
1.5
Plus: Adjustment for grossing of parent/affiliate interest payments.......................................................
Adjustment for U.S. territories and Puerto Rico.............................................................................
Services furnished without payment by financial intermediaries except life insurance carriers....
5
6
7
8.6
56.0
8.3
10.4
55.2
9.3
8.9
56.3
8.3
9.4
55.8
8.0
8.2
54.9
8.4
11.1
55.6
8.9
10.9
55.5
9.8
11.6
54.7
10.0
Equals: Exports of goods and services and income receipts, NIPAs.................................................
8 2,159.0 2,460.5 2,194.3 2,265.7 2,302.0 2,412.9 2,541.3 2,585.8
Imports of goods and services and income payments, ITAs................................................................
9 2,818.0 3,044.8 2,905.4 2,871.7 2,913.4 3,030.6 3,109.4 3,125.8
Less: Gold, ITAs.....................................................................................................................................
Statistical differences 1................................................................................................................
Other items...................................................................................................................................
10
11
12
5.6
0.0
0.0
8.8
16.5
0.0
5.6
0.0
0.0
5.1
0.0
0.0
7.8
5.2
0.0
9.8
16.9
0.0
10.7
22.0
0.0
7.0
22.0
0.0
Plus: Gold, NIPAs...................................................................................................................................
Adjustment for grossing of parent/affiliate interest payments......................................................
Adjustment for U.S. territories and Puerto Rico...........................................................................
Imputed interest paid to rest of world............................................................................................
13
14
15
16
-4.3
8.6
38.1
8.3
-4.6
10.4
38.2
9.3
-4.0
8.9
35.3
8.3
-5.1
9.4
32.2
8.0
-4.0
8.2
40.1
8.4
-4.7
11.1
37.2
8.9
-4.5
10.9
41.8
9.8
-5.1
11.6
33.6
10.0
Equals: Imports of goods and services and income payments, NIPAs.............................................
17 2,863.1 3,072.8 2,948.3 2,910.9 2,953.0 3,056.4 3,134.8 3,146.8
18 -721.8 -634.2 -773.8 -669.1
19
20
21
-1.1
0.0
1.2
-0.1
-6.3
1.5
0.0
0.0
1.2
-1.2
0.0
1.0
-1.2
-19.1
1.4
2.0
-8.9
1.2
-0.9
1.3
1.9
-0.1
1.3
1.5
Plus: Adjustment for U.S. territories and Puerto Rico (6-15)................................................................
22
17.9
17.0
21.0
23.6
14.8
18.4
13.7
21.1
Equals: Net exports of goods and services and net receipts of income, NIPAs (8 -1 7 )................
23 -704.1
-612.3 -754.0
-645.2
-651.0 -643.5
-593.5
-561.0
1. Consists of statistical revisions to the ITAs that have not yet been incorporated into the NIPAs.
ITAs International transactions accounts
NIPAs National income and product accounts
-684.8 -667.6
-604.9 -579.6
Balance on goods and services and income, ITAs (1 -9 )........................................................................
Less: Gold (2-10+13).............................................................................................................................
Statistical differences (3-11) 1.....................................................................................................
Other items (4-12).......................................................................................................................
D-83
June 2008
B. S uggested Reading
The Bureau of Economic Analysis (BEA) has published
a wealth of information about the methodologies that
are used to prepare its national, industry, interna
tional, and regional accounts. Most of this information
is available on BEA’s Web site at <www.bea.gov>; see
“Methodology Papers” and the
under “Publications.”
S u r v e y
o f
C
u r r e n t
B u s i
n e s s
National accounts
The national accounts encompass the detailed esti
mates in the national income and product accounts
(including gross domestic product) and the estimates
of fixed assets and consumer durable goods.
National income and product accounts (NIPAs).
This series of papers documents the conceptual frame
work of the NIPAs and the methodologies that have
been used to prepare the estimates.
An Introduction to National Income and Product
Accounts (2007)
Corporate Profits: Profits Before Tax, Profits Tax
Liability, and Dividends (2002)
Government Transactions (1988)
Measuring the Economy: A Primer on GDP and the
National Income and Product Accounts (2007)
Personal Consumption Expenditures (1990)
The methodologies described in these papers
have been updated and improved, typically as part of
the comprehensive and annual revisions of the
NIPAs.
The following
article describes the upcoming
2009 comprehensive revision of the NIPAs.
“Preview of the Revised NIPA Estimates for 2002:
Effects of Incorporating the 2002 Benchmark I-O Ac
counts and Proposed Definition and Statistical
Changes” (March 2008)
Preview of the 2009 Comprehensive NIPA Revision
New Classifications for Personal Consumption
Expenditures (May 2008)
The following
articles describe the most re
cent comprehensive revision of the NIPAs.
“Improved Estimates of the National Income and
Product Accounts for 1929-2002: Results of the Com
prehensive Revision” (February 2004)
Preview of the 2003 Comprehensive NIPA Revision
New and Redesigned Tables (August 2003)
Statistical Changes (September 2003)
“Measuring the Services of Commercial Banks in
the NIPAs: Changes in Concepts and Methods” (Sep
tember 2003)
“Measuring the Services of Property-Casualty In
surance in the NIPAs: Changes in Concepts and Meth
S u r v e y
S u r v e y
ods” (October 2003)
In addition, see the following articles.
“Annual Revision of the National Income and Prod
uct Accounts” (August 2007) presents revisions and
describes any changes in the data and the methods that
are used to prepare the estimates.
“Updated Summary NIPA Methodologies” (No
vember 2007) describes the source data and the meth
ods that are used to prepare the current-dollar and real
estimates of GDP.
“Chained-Dollar Indexes: Issues, Tips on Their Use,
and Upcoming Changes” (November 2003) discusses
the advantages of using chain-weighted indexes and
the challenges of using chained dollars.
“Reliability of the NIPA Estimates of U.S. Economic
Activity” (February 2005) evaluates the principal NIPA
estimates by examining the record of revisions to
them.
“Gross Domestic Product: Revisions and Source
Data” (February 2006) describes the categories of data
that are used for the advance, preliminary, and final
quarterly estimates of GDP.
Fixed assets and consumer durable goods. Fixed
Assets and Consumer Durable Goods in the United
States, 1925-97 (2003) discusses the concepts and sta
tistical considerations that underlie the estimates and
their derivation.
“Fixed Assets and Consumer Durable Goods for
1925-2002” (May 2004) describes the improvements
that were incorporated into these estimates as part of
the most recent comprehensive NIPA revision.
“Fixed Assets and Consumer Durable Goods for
1997-2006” (September 2007) provides estimates that
reflect the incorporation of the most recent annual
NIPA revision.
Satellite accounts. These accounts extend the ana
lytical capacity of the NIPAs by focusing on the effects
of a particular aspect of economic activity on GDP.
“Research and Development Satellite Account”
For 1959-2002 (December 2006)
For 1959-2004 (October 2007)
Mission Statement and Strategic Plan
The mission statement of the Bureau of Economic
Analysis and its most recently updated strategic plan
for improving the accuracy, reliability, and relevance
of the national, industry, regional, and international
accounts are available on BEA’s Web site at
<www.bea.gov> under “About BEA.”
Appendix B
D-84
Industry accounts
The industry accounts consist of the annual industry
accounts (the input-output accounts and the gross-domestic-product-by-industry accounts), the benchmark
input-output accounts, and one satellite account.
Annual industry accounts. “Improved Annual In
dustry Accounts for 1998-2003” (June 2004) describes
the comprehensive revision of the annual input-output
accounts and the GDP-by-industry accounts that features
the integration of the two sets of accounts.
“Annual Industry Accounts” (December 2006) pre
sents the annual revision of these accounts and de
scribes the source data and any changes in the methods
that are used to prepare the estimates.
“Preview of the Comprehensive Revision of the
Annual Industry Accounts: Integrating the Annual In
put-Output Accounts and the Gross-Domestic-Product-by-Industry Accounts” (March 2004) provides the
details about the comprehensive revision.
Benchmark input-output accounts. “Preview of the
Benchmark Input-Output Accounts for 2002” (Septem
ber 2005) includes the proposed new sectors that are
based on the 2002 North American Industry Classifica
tion System.
“U.S. Benchmark Input-Output Accounts, 2002”
(October 2007)
Satellite accounts. These accounts extend the ana
lytical capacity of the input-output accounts by focus
ing on a particular aspect of economic activity.
“U.S. Travel and Tourism Satellite Accounts”
For 2001-2004 (June 2005)
For 2002-2005 (June 2006)
For 1998-2006 (June 2007)
For 2004-2007 (June 2008)
International accounts
The international accounts encompass the interna
tional transactions accounts, direct investment, and
international transactions in services.
International transactions accounts. The Balance
of Payments of the United States: Concepts, Data
Sources, and Estimating Procedures (1990) describes the
methodologies used to prepare the estimates in the
ITAs and the international investment position of the
United States. These methodologies are usually up
dated and improved as part of the annual revisions of
the international transactions accounts.
The annual revisions of the international transac
tions accounts are described in a series of articles, the
latest of which was published in the July
Direct investment. International Direct Investment:
Studies by the Bureau of Economic Analysis (1999) is a
collection of previously published articles on U.S. di
2 0 0 7
S u r v e y .
June 2008
rect investment abroad and foreign direct investment
in the United States. It includes “A Guide to BEA Sta
tistics on U.S. Multinational Companies,” which is also
available in the March 1995
and “A Guide to
BEA Statistics on Foreign Direct Investment in the
United States,” which is also available in the February
1990
In addition, the updated methodologies are avail
able in U.S. Direct Investment Abroad: Final Results
From the 1999 Benchmark Survey (2004) and in Foreign
Direct Investment in the United States: Final Results
From the 2002 Benchmark Survey (2006).
International services. U.S. International Transac
tions in Private Services: A Guide to the Surveys Con
ducted by the Bureau of Economic Analysis (1998)
describes 11 surveys. It includes classifications, defini
tions, release schedules, the methods used to prepare
the estimates, and samples of the survey forms.
“Selected Issues in the Measurement of U.S.
International Services” (June 2002) describes key is
sues in defining and measuring insurance, wholesale
and retail trade, finance, construction, and utilities ser
vices and explores possible actions to address these is
sues.
S u r v e y ,
S u r v e y .
Regional accounts
The regional accounts include estimates of personal in
come and gross domestic product. The following
methodologies are available on BEA’s Web site at
<www.bea.gov/regional/methods.cfm>.
Personal income. Estimates of personal income
are prepared for states and for local areas.
State Personal Income (2007) describes the im
provements in the methodology that are used to
prepare the estimates.
Local Area Personal Income (2007) describes the
detailed methodology that is used to prepare the es
timates for counties, metropolitan divisions and ar
eas, micropolitan areas, BEA economic areas and
regions.
Gross domestic product. Estimates of gross do
mestic product (GDP) are prepared for states and
metropolitan areas.
Gross Domestic Product by State (2006) describes
the sources and the methods that are used to pre
pare the estimates.
“Gross Domestic Product by State for 2003-2006”
(July 2007) presents the most recent annual revision.
“Introducing New Measures of the Metropolitan
Economy: Prototype GDP-by-Metropolitan-Area
Estimates for 2001-2005” (November 2007) de
scribes the potential uses of the estimates and the
methodology used to prepare them.
@FedFRASER