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MARCH 2007
S urvey of C urrent B usiness
In This Issue . . .
Federal Budget Estimates for Fiscal Year 2008
R&D Activities o f U.S. M ultinational Companies in 2004
Research Spotlight: Internal Markets o f Multinational Firms
SSB EA
BUREAU OF ECONOMIC ANALYSIS
U.S. DEPARTMENT OF COMMERCE
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. D ep artm en t of C om m erce
Carlos M. Gutierrez, Secretary
E conom ics and S tatistics A d m inistration
Cynthia A. Glassman, Under Secretary for Economic Affairs
B ureau o f E conom ic A n alysis
J. Steven Landefeld, Director and Acting Chief Economist
Rosemary D. Marcuss, Deputy Director
Dennis J. Fixler, Chief Statistician
Ralph Kozlow, Associate Director for International Economics
Vacant, Chief Information Officer
Brent R. Moulton, Associate Director for National Economic Accounts
Sumiye Okubo, Associate Director for Industry Accounts
Vacant, Associate Director for Regional Economics
B EA A d v is o ry C om m ittee
The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA’s national,
regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising
from innovative and advancing technologies, and it provides recommendations from the perspective of business economists, academi
cians, 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, Georgetown University
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of Maryland
Edward E. Learner, University of California, Los Angeles
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
James Kim, Editor-in-Chief
M. Gretchen Gibson, Managing Editor
Kristina L. Maze, Production Manager
Wm. Ronnie Foster, Graphic Designer
Dan Seidov, Editor
Robert E. Wehausen, Production Editor
Danielle M. Wittenberg, Editor
The Survey o f Current Business (ISSN 0039- 6222) is published
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Survey of C urrent B usiness
M arch 2007
1
Volum e 87 • N um ber 3
G D P and th e Econom y: P relim in ary E stim ates for the Fourth Q u arter of 2006
Real GDP increased 2.2 percent after increasing 2.0 percent, reflecting a downturn in im ports and
accelerations in consumer spending, in exports, and in Federal, state, and local government
spending. Real disposable personal income increased 5.3 percent after increasing 3.2 percent.
10
Federal B udget Estim ates for Fiscal Year 2008
Each year, BEA prepares estimates o f Federal Government current receipts and expenditures that
are based on the proposed Budget of the U.S. Government. The analysis o f these translated estimates
can be used to gauge the effects o f the Federal budget on U.S. economic activity.
20 New Transactions in the NIPA Federal Sector
22
R esearch and D evelop m ent A ctivities of U.S. M ultinational C om panies:
P relim in ary R esults From th e 2004 B en chm ark S urvey
In 1999-2004, R&D expenditures o f U.S. multinational companies grew at a 4-percent average
annual rate after growing at a 7-percent rate in 1994-99. The R&D employment o f these
companies was 998,000 in 2004, up from 770,000 in 1999.
42
R esearch S potlight: T h e Internal M arkets of M ultination al Firm s
The authors summarized their recent studies o f the internal markets o f multinational
corporations. Their research was based on BEA’s firm-level international data, available through a
program that allows researchers to work at BEA as special sworn employees.
w w w .bea.gov
March 2007
//'
D -1
B EA C urrent 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 ched ule of U pcom ing N ew s R eleases (b ack cover)
Looking A h ead . . .
Per Capita State Personal Income for 2006. These estimates, together with the esti
mates of state personal income for the fourth quarter, will be published in the April
S u rv e y .
U.S. International Transactions for 2006. The estimates of these transactions in the
current account, the capital account, and the financial account will also be published
in the April S u r v e y .
March 2007
Director’s Message
Providing improved data about research and development
(R&D) is a high priority at BEA. And I am pleased to note an ar
ticle in this month’s S u r v e y o f C u r r e n t B u s in e s s that details R&D
activity by U .S . multinational companies and their affiliates. This
effort complements other initiatives at BEA, notably our R&D
satellite account, the preliminary results o f which were sum m a
rized in the December issue. I’d like to note also that the 2008
budget proposal, submitted by the President to Congress in Feb
ruary, includes a $2.1 million request for an initiative to incorpo
rate our measures o f R&D into the national income and product
accounts (NIPAs).
Speaking o f the budget, another article translates the Presi
dent’s proposal into a government spending account that is con
sistent with the NIPAs. Economists and researchers often find
this translation, published once a year, a useful tool for analyzing
the economic consequences o f the budget proposal.
This issue also includes a Research Spotlight on internal m ar
ket activity at U.S. multinational companies. The article sum m a
rizes an impressive body o f research by three professors— Mihir
A. Desai, C. Fritz Foley, and James R. Hines Jr.— on a wide range
o f topical issues. The research was based largely on BEA’s firmlevel international data, which was made available through a pro
gram allowing researchers to work as unpaid special sworn em
ployees o f BEA. These special employees are granted access, for
research purposes, to the rich store o f m icrodata that BEA col
lects under the International Investment and Trade in Services
Survey Act. We started publishing Research Spotlights a few years
ago and are always on the lookout for outside research based on
BEA data that can be similarly presented.
As always, the first article presents the m ost recent estimates o f
gross domestic product in an easy-to-view format.
J. Steven Landefeld
Director, Bureau o f Economic Analysis
iv
March 2007
Taking A c c o u n t...
BEA Contributes to New
SNA Guidelines
The System o f National Ac
counts (SNA) is a set o f interna
tional guidelines for national
accounts that was last updated in
1993. Since then, the Bureau o f
Econom ic Analysis (BEA) has
used the SNA as a guide to im
proving its economic accounts.
Several m ajor improvements
to the national accounts that
were outlined in the 1993 SNA
include chain-type price and
quantity indexes, capitalization
o f software, and the recognition
o f the implicit services provided
by commercial banks.
Since 1993, however, the
economy has changed signifi
cantly. Transactions that were
not discussed in the 1993 SNA,
such as employee stock options,
have become more important.
The world economy has become
more interdependent. The im
portance o f intangible assets,
such as research and develop
ment, has become better under
stood. And national accounts
users have asked for better infor
m ation on pension funding and
liabilities.
In 2003, the United Nations
Statistical Com m ission called for
an update to the SNA. BEA has
actively participated in that pro
cess, helping to develop a set o f
final recom m endations on 44 is
sues. These recommendations
were adopted by the U.N. Statis
tical Com m ission at its meeting
in February-M arch 2007. BEA
has already done considerable
work on implementing key pro
posals and will do more. Rec
om m endations to better account
for the fast-changing economy
include the following:
• Research and development
(R&D) in principle should be
treated as fixed investment.
BEA has recently released a
satellite R&D account and
intends to treat R&D as
investment
in
its
core
accounts by 2013.
• Employee
stock
options
should be valued as com pen
sation during the period
between granting and vesting,
and their valuation should be
based on fair value. This
treatment is similar to the lat
est standards adopted by the
Financial Accounting Stan
dards Board.
• For defined-benefit pension
plans, the value o f com pensa
tion should be based on the
increase in the net present
value o f the employee’s pen
sion entitlement.
• Estimates o f capital services
should be part o f the m ea
surement o f multifactor pro
ductivity. A new discussion o f
capital services and the user
cost form ula will be included.
Countries are encouraged to
compile estimates o f capital
services and multifactor pro
ductivity.
• The updated SNA will include
two recommendations that
have already been adopted in
BEA’s accounts: A measure o f
insurance services that avoids
large swings due to disasters,
and the capitalization o f m ili
tary assets.
• The issue o f whether to
include a net return for the
services o f capital owned and
used by government or non
profit institutions was placed
on the research agenda.
Work will continue on the
updated SNA, and BEA will con
tinue to participate. The updated
SNA will be released in two vol
umes, with the first volume con
taining the core o f the system
and integrating the 44 newly
adopted proposals that are
scheduled to be presented to the
U.N. Statistical Com m ission for
final approval in 2008.
BEA to Hold National
Accounts User Meeting
The Bureau o f Economic Analy
sis will host a meeting for users
o f the national income and
product accounts at BEA’s office
in Washington, DC, on April 13,
2007.
March 2007
1
GDP and the Economy
Preliminary Estimates for the Fourth Quarter of 2006
EAL gross domestic product (GDP) increased 2.2
.percent after increasing 2.0 percent in the third
quarter, according to the “preliminary” estimates of
the national income and product accounts (NIPAs)
(chart 1 and table 1).1The fourth-quarter growth rate
was revised down 1.3 percentage points, an unusually
large revision, from the “advance” estimate released in
January (see “Revisions”).2
The small acceleration in real GDP growth in the
fourth quarter primarily reflected a downturn in im
ports (subtracted in the derivation of GDP) and accel
erations in consumer spending, in exports, and in
Federal Government spending that were partly offset
by downturns in inventory investment, in equipment
and software investment, and in nonresidential struc
tures investment.3
• Prices of goods and services purchased by U.S. resi
dents increased 0.2 percent, following a 2.2-percent
increase. Energy prices turned down sharply, and
food prices decelerated.
• Real disposable personal income (DPI) increased
5.3 percent after increasing 3.2 percent (revised) in
the third quarter. The acceleration reflected a down
turn in the implicit price deflator used to adjust
current-dollar DPI, which decelerated.
• The personal saving rate, personal saving as a per
centage of current-dollar DPI, was -1.2 percent in
the fourth quarter; in the third quarter, it was -1.4
percent (revised).
R
1. “Real” estimates are in chained (2000) dollars, and price indexes are
chain-type measures.
2. Each GDP estimate for a quarter (advance, preliminary, and final)
incorporates increasingly comprehensive and improved source data. More
information can be found at <www.bea.gov/bea/about/infoqual.htm> and
at < www.bea.gov/bea/faq/national/gdp_accuracy.htm>. Quarterly esti
mates are expressed at seasonally adjusted annual rates, which show the
value of an activity if the quarterly rate were maintained for a year.
3. In this article, “consumer spending” refers to the NIPA series “personal
consumption expenditures,” “inventory investment” refers to “change in
private inventories,” “Federal Government spending” refers to “Federal
Government consumption expenditures and gross investment,” and “state
and local government spending” refers to “state and local government con
sumption expenditures and investment.”
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter
10
2003
2004
2005
2006
Contributions to the increase in real GOP in 2006:IV
C onsu m er spending
Nonresidential fixed investm ent
Residential fixed investm ent
Inventory investm ent
Exports
0
1
2
P e r c e n ta g e p o in ts a t a n a n n u a l ra te
Prices: Percent change from the preceding quarter
■llilltl - llll
2003
2004
2005
2006
DPI: Percent change from the preceding quarter
-2
-4
i
I
2003
Christopher Swann prepared this article.
U.S. Bureau of Economic Analysis
i
i
2004
i
I
i
i
2005
i
I
i
i
2006
GDP and the Economy
2
March 2007
Real GDP Overview
Table 1. Real Gross Domestic Product and Components
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
S h a re of
c u rre n t-
C h a n g e fro m
C o n trib u tio n to p e r c e n t
d o lla r
p r e c e d in g p e rio d
c h a n g e in r e a l G D P
GDP
(p e r c e n t)
(p e r c e n ta g e p o in ts )
(p e rc e n t)
2006
2006
2006
IV
I
II
III
IV
I
II
5.6
2.6
2.0
2.2
5.6
2.6
Gross domestic product1....
100.0
Personal consumption
expenditures................................
70.1
4.8
D u r a b l e g o o d s ...............................................
8.0
1 9 .8
-
2.6
2.8
4.2
3.38
0.1
6 .4
4 .4
1 .5 0
-
IV
III
2.0
2.2
1.81
1.96
2.88
0.01
0 .5 0
0 .3 5
N o n d u r a b l e g o o d s .....................................
2 0 .3
5 .9
1 .4
1 .5
6.0
1.20
0 .3 0
0 .3 2
1 .1 9
S e r v i c e s ..............................................................
4 1 .7
1.6
3 .7
2.8
3 .2
0 .6 7
1 .5 2
1 .1 4
1 .3 4
Gross private domestic
investment...................................
16.1
7.8
1.0
-0.8 -15.6
1.31
F i x e d i n v e s t m e n t ........................................
1 5 .9
8.2
1.6
-
1.2
- 8 .5
1 .3 4
- 0 .2 7
- 0 .1 9
- 1 .4 3
1 3 .7
4 .4
10.0
- 2 .4
1 .3 6
0 .4 5
1.01
- 0 .2 6
-
0 .2 5
0 .5 6
0 .4 6
-0 .0 3
0.10
0 .5 5
-0 .2 4
1.20
-1 .1 6
0 .0 6
- 1 .3 5 ,
N o n r e s i d e n t i a l .........................................
10.6
-
0.8
S t r u c t u r e s ..............................................
3 .2
8 .7
2 0 .3
1 5 .7
E q u i p m e n t a n d s o f t w a r e .........
7 .4
1 5 .6
-1 .4
7 .7
- 3 .2
R e s i d e n t i a l .................................................
5 .3
- 0 .3
-1 8 .7
- 1 9 .1
C h a n g e i n p r i v a t e i n v e n t o r i e s .........
0.1
Net exports of goods and
services.....................................
-
11.1
G o o d s ..............................................................
1 1 .3
8.0
-
0.02
- 0 .7 2
1 7 .3
1 0 .5
9 .4
8 .5
S e r v i c e s .......................................................
3 .3
6 .7
6 .7
0.8
1 5 .5
1 6 .6
9 .1
1 .4
5 .6
-
G o o d s ..............................................................
1 3 .9
9 .4
7 .1
S e r v i c e s .......................................................
2 .7
7 .4
9 .9
Government consumption
expenditures and gross
investment...................................
19.1
4.9
0.8
F e d e r a l ..................................................................
7 .0
8.8
- 4 .5
N a t i o n a l d e f e n s e ..................................
4 .7
8 .9
-
N o n d e f e n s e ...............................................
2.2
12.2
8 .5
- 9 .3
6 .5
2 .7
4 .0
1 .9
-
0.1
-
0 .7 3
1 .1 3
1.20
0.21
0 .4 5
0 .7 1
0 .6 5
- 1 .4 6
0.21
0 .0 3
0 .4 8
- 0 .2 4
-0 .9 3
0 .3 8
- 1 .2 7
0.01
7 .1
- 0 .1 9
- 0 .2 5
1.7
3.3
0.94
-
0.16
1.00
-
Nonresidential fixed investment turned down and
subtracted 0.26 percentage point from real GDP
growth after adding 1.01 percentage points. The
downturn reflected downturns both in equipment and
software and in structures.
Residential investment decreased about the same in
the fourth quarter as in the third and subtracted 1.16
percentage points from real GDP growth after sub
tracting 1.20 percentage points.
Inventory investment turned down and subtracted
1.35 percentage points from real GDP growth after
adding slightly to third-quarter growth.
1.50
0.66
- 3 .8
1.2
-
0.42 -0.19
1 .4 1
2.6
1 .3
2.0
2.2
-
0 .4 4
-0.04
6.8
6.2
6.0
1 4 .0
I m p o r t s ..................................................................
S t a t e a n d l o c a l ..............................................
1.11
- 0 .0 3
-5.2
E x p o r t s ..................................................................
-
0.17 -0.13 -2.78
Consumer spending accelerated and contributed 2.88
percentage points to real GDP growth in the fourth
quarter after adding 1.96 percentage points in the
third quarter. Nondurable goods and services acceler
ated, while durable goods decelerated.
0 .5 6
0 .0 7
-0 .1 8
0.32
0.62
4 .4
0 .6 1
-0 .3 2
0 .0 9
0 .3 0
1 2 .3
0 .4 1
- 0 .0 9
-0 .0 6
0 .5 4
10.2
2.6
0.20
- 0 .2 3
0 .1 5
-0 .2 4
0 .3 3
0 .4 8
0 .2 3
0 .3 2
1 . T h e e s tim a te s o f G D P u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
N o t e . P e r c e n t c h a n g e s a r e f r o m N IP A t a b l e 1 . 1 . 1 , c o n t r i b u t i o n s a r e f r o m N IP A t a b l e 1 . 1 . 2 , a n d s h a r e s
a r e f r o m N IP A t a b l e 1 . 1 . 1 0 .
Table 2. Real Gross Domestic Product (GDP) by Type of Product
Exports accelerated and contributed 1.13 percentage
points to real GDP growth after adding 0.73 percent
age point. A strong acceleration in services more than
offset a slight deceleration in goods.
Imports turned down, reflecting a downturn in goods
that more than offset an upturn in services, and added
0.38 percentage point to real GDP growth after sub
tracting 0.93 percentage point.
Federal Government spending picked up, reflecting an
upturn in national defense spending that added 0.54
percentage point to real GDP growth. Nondefense
spending turned down, reducing real GDP growth by
0.24 percentage point.
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
S h a re of
c u rre n t-
C h a n g e fro m
C o n trib u tio n to p e r c e n t
d o lla r
p r e c e d in g p e rio d
c h a n g e in r e a l G D P
GDP
(p e r c e n t)
(p e r c e n ta g e p o in ts )
2006
2006
State and local government spending accelerated, pri
marily reflecting an upturn in investment.
(p e r c e n t)
2006
IV
Gross domestic product1 ...............
F in a l s a le s o f d o m e s tic p r o d u c t
C h a n g e in p r i v a t e i n v e n t o r i e s
I
II
III
IV
100.0
5 .6
2.2
5 .6
2.6
2.1
2.0
9 9 .9
1 .9
3 .6
0.1
I
5 .6
5 .6 1
- 0 .0 3
II
IV
III
2.6
2.11
1 .9 0
2.0
3 .5 7
2.2
- 1 .3 5
0 .4 4
0 .0 6
G o o d s ........................................................................
3 1 .2
12^8
3 .6
3 .8
3 .7
3 .8 6
1.12
1 .1 7
1 .1 6
S e r v i c e s ....................................................................
5 8 .2
2 .4
2 .4
2.8
3 .8
1 .3 9
1 .4 0
1 .6 3
2 .1 9
S t r u c t u r e s ................................................................
10.6
2 .9
0 .3
10.1
0 .3 3
0 .0 4
- 0 .8 4
- 1 .1 4
2 .9
3 .8
-9 .4
0.12 -0.31
0 7 6
9 7 .1
5 .6
3 .0
1.2
3 .6
5 .4 6
2 .8 7
1.20
3 .4 6
9 .5
6 .7
11.7
43.0
0.07
0.04
0.07
0.23
5 .6
2 .5
1 .9
2.0
5 .5 2
2 .5 1
1 .8 9
1 .9 9
- 7 .4
-
Addenda:
M o t o r v e h i c l e o u t p u t ..........................................
G D P e x c lu d in g m o to r v e h ic le o u tp u t
F i n a l s a l e s o f c o m p u t e r s ................................
0.7
2/A -33.4
- 1
.24
G D P e x c lu d in g f in a l s a l e s o f
c o m p u t e r s ..............................................................
9 9 .4
1 . T h e e s tim a te s o f G D P u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
N ote . P e r c e n t c h a n g e s a r e f r o m N IP A t a b l e 1 . 2 . 1 , c o n t r i b u t i o n s a r e f r o m N IP A t a b l e 1 . 2 . 2 , a n d s h a r e s
a r e c a l c u l a t e d f r o m N IP A t a b l e 1 . 2 . 5 .
Real final sales of domestic product, real GDP less in
ventory investment, accelerated, increasing 3.6 percent
after increasing 1.9 percent.
Motor vehicle output turned down sharply, primarily
reflecting downturns in both truck and auto output,
and subtracted 1.24 percentage points from real GDP
growth after adding 0.76 percentage point.
Final sales of computers accelerated, increasing 43.0
percent after increasing 11.7 percent.
March 2007
S u rvey
3
C u r r e n t B u sin ess
of
Consumer Spending
Table 3. Real Personal Consumption Expenditures (PCE)
[S e a s o n a ll y a d ju s te d a t a n n u a l r a te s ]
S h a re of
c u rre n t-
C h a n g e fro m
C o n trib u tio n to p e r c e n t
d o lla r
p r e c e d in g p e rio d
c h a n g e in r e a l P C E
PCE
(p e r c e n t)
(p e r c e n ta g e p o in ts )
(p e rc e n t)
2006
PCE 1....................................
2006
2006
IV
I
II
III
IV
100.0
11.5
4.8
19.8
2.6
-0.1
2.8
6.4
4 .7
1 8 .9
-
1.2
8.6
-4 .4
e q u i p m e n t ...........................................
4 .4
22.8
3 .3
6 .7
2 ........................................................
2 .4
1 6 .3
Nondurable goods....................
29.0
5.9
F o o d ................................................................
1 3 .9
6 .7
C l o t h i n g a n d s h o e s .........................
3 .9
Durable goods...........................
M o to r v e h i c l e s a n d p a r t s
4.2
4.4
I
II
III
4.8
2.6
2.14 -0.01
0 .7 2
0 .8 5
- 0 .0 6
0 .4 0
IV
4.2
2.8
0 .5 0 '
-
0.21
F u r n itu re a n d h o u s e h o ld
O th e r
8.6
- 3 .7
1.4
2.0
1 3 .3
0 .9 2
0 .1 4
0 .2 8
1.6
7 .2
0 .3 7
- 0 .0 9
0 .0 4
0 .1 7
1.5
6.0
1.71
0.46
1.73
6.6
0 .9 2
0 .2 7
0 .3 3
- 0 .1 5
0.10
0.21
0 .9 0
6 .7
- 0 .7
- 3 .8
5 .5
0.42
-
0 .5 5
0 .2 6
G a s o l i n e , f u e l o il, a n d o t h e r
- 1 .3
0 .7
5 .0
1.0
- 0 .0 5
0 .0 3
0 .1 9
0 .0 4
3........................................................
8.0
6 .4
3 .4
2.0
6 .9
0 .5 1
0 .2 7
0 .1 5
0 .5 4
Services......................................
59.5
1.6
3 .7
3.2
0.96
2.17
1.64
1.94 '
1 5 .1
2 .3
2 .4
2.8
2.6
3 .2
0 .3 4
0 .3 6
0 .3 8
0 .4 8
H o u s e h o l d o p e r a t i o n ......................
5 .5
- 1 4 .0
8 .4
9 .7
3 .9
- 0 .8 4
0 .4 4
0 .5 1
0.22
E l e c t r i c i t y a n d g a s ......................
2 .3
- 2 9 .7
1 5 .8
2 1 .9
8 .5
- 0 .8 3
0 .3 4
0 .4 6
0 .1 9
e n e r g y g o o d s ...................................
O th e r
H o u s i n g .......................................................
3 .3
0.1
3 .4
1.6
0 .7
0.00
0.11
0 .0 5
0.02
T r a n s p o r t a t i o n ......................................
3 .6
4 .0
1 .7
1 .3
3 .5
0 .1 5
0 .0 6
0 .0 5
0 .1 3
2.6
0.8
6.1
2.1
3 .1
0 .7 4
0 .4 4
0 .3 6
0 .5 3
3 .0
2.6
0 .1 3
0 .0 3
0.11
1.6
3 .4
0 .4 5
0 .8 3
0.12
0.22
O th e r h o u s e h o ld o p e ra tio n
3 .2
-
M e d i c a l c a r e ............................................
1 7 .2
4 .3
R e c r e a t i o n .................................................
4 .1
3 .1
O t h e r 4...........................................................
1 4 .0
3 .2
Spending for durable goods slowed in the fourth quar
ter, reflecting a downturn in motor vehicles and parts
that was partly offset by accelerations in furniture and
household equipment and in “other” durable goods.
Spending for nondurable goods accelerated and con
tributed 1.73 percentage points to the growth in real
consumer spending. The acceleration mainly reflected
an upturn in spending for food. Spending for “other”
nondurable goods accelerated.
Spending for services accelerated and contributed 1.94
percentage points to the growth in real consumer
spending. Accelerations in “other” services, in medical
care, and in housing were the main contributors to the
growth in real consumer spending for services. Spend
ing for electricity and gas decelerated.
0 .4 8
1. T h e e s tim a te s u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
2 . I n c lu d e s je w e lr y a n d w a t c h e s , o p h th a lm ic p r o d u c t s a n d o r th o p e d i c e q u ip m e n t , b o o k s a n d m a p s ,
b ic y c le s a n d m o to rc y c le s , g u n s a n d s p o r tin g e q u ip m e n t, p h o to g r a p h ic e q u ip m e n t, b o a ts , a n d p le a s u r e
a irc ra ft.
Chart 2. Real Personal Consumption Expenditures
3 . I n c lu d e s t o b a c c o , to ile t a r ti c le s , d r u g p r e p a r a t i o n s a n d s u n d r i e s , s ta t i o n e r y a n d w ritin g s u p p li e s ,
t o y s , f ilm , f l o w e r s , c l e a n i n g p r e p a r a t i o n s a n d p a p e r p r o d u c t s , s e m i d u r a b l e h o u s e f u r n i s h i n g s , a n d m a g a
z in e s a n d n e w s p a p e rs .
4 . I n c lu d e s p e r s o n a l c a r e , p e r s o n a l b u s in e s s , e d u c a tio n a n d r e s e a r c h , re lig io u s a n d w e lfa re a c tiv itie s ,
a n d n e t f o re ig n tr a v e l.
Percent change from the preceding quarter
81
Based on seasonally adjusted annual rates
N o t e . P e r c e n t c h a n g e s a r e f r o m N IP A t a b l e 2 . 3 . 1 , a n d c o n t r i b u t i o n s , f r o m N IP A t a b l e 2 . 3 . 2 ; s h a r e s a r e
c a l c u l a t e d f r o m N IP A t a b l e 2 . 3 . 5 .
2003
2004
2005
2006
Contributions to the increase in PCE in the fourth quarter of 2006
1
Percentage points at an annual rate
U.S. Bureau of Economic Analysis
2
4
GDP and the Economy
March 2007
Private Fixed Investm ent
Real private fixed nonresidential investment turned
down, reflecting downturns in business investment in
equipment and software and in structures.
Table 4. Real Private Fixed Investment (PFI)
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
S h a re of
c u rre n t-
C h a n g e fro m
d o lla r
p r e c e d in g p e rio d
C o n trib u tio n to p e r c e n t
c h a n g e in r e a l P F I
PFI
(p e rc e n t)
(p e r c e n ta g e p o in ts )
(p e r c e n t)
2006
2006
IV
I
II
2006
III
IV
I
II
III
IV
P r i v a t e f i x e d i n v e s t m e n t 1 ....
100.0
8.2
-1.6
-1.2
-8.5
8.2
-1.6
-1.2
N o n r e s i d e n t i a l ...............................................
66.4
13.7
4.4
10.0
-2 .4
8.30
2.72
6.16 -1.56
2.79 -0.16
20.2
8.7
20.3
15.7
-0 .8
C o m m e r c ia l a n d h e a lth c a r e
7 .5
7 .1
1 1 .7
2 5 .6
-
M a n u f a c t u r i n g .......................................
1 .4
-1 .7
2 8 .0
1 1 .3
- 9 .7
P o w e r a n d c o m m u n i c a t i o n ....
2.1
1 4 .3
4 .9
1 6 .0
-8.5
1.50
3.34
0 .4 6
0 .7 4
1 .6 1
-0 .1 5
0.02
0 .3 2
0 .1 5
- 0 .1 4
- 1 1 .5
0 .2 7
0.10
0 .3 1
-0 .2 5
2.1
-
M in i n g e x p l o r a t i o n , s h a f t s ,
2.0
a n d w e l l s .............................................
5 .3
2 8 .0
10.0
3 7
0 .0 9
1 .1 6
0 .4 8
0 .1 9
O t h e r s t r u c t u r e s 2.............................
3 .8
2 3 .6
3 5 .1
7 .3
5 .5
0 .7 1
1 .0 3
0 .2 5
0.20
E q u i p m e n t a n d s o f t w a r e ............
46.2
15.6
-1.4
7.7
-3.2
22.8
21.8
-
1.1
10.0
22.0
6.0
6.80 -0.62
3.36 -1.41
0.6
4 .5 2
- 0 .2 4
2 .1 3
0 .1 3
1 .5
0 .9 4
0 .1 8
0 ./ 9
0 .0 6
8 .3
1.12
0 .3 9
0 .5 6
0 .7 8
- 0 .8 2
0 .7 8
- 0 .7 1
0.02
- 0 .4 2
In fo rm a tio n p r o c e s s in g
e q u i p m e n t a n d s o f t w a r e .. . .
C o m p u te r s a n d p e rip h e r a l
e q u i p m e n t ...................................
4 .0
2 4 .9
4 ./
12.2
4 .2
I n d u s t r i a l e q u i p m e n t ......................
10.0
8.8
8.0
- 3 .6
T r a n s p o r t a t i o n e q u i p m e n t ........
7 .2
2 7 .7
O t h e r e q u i p m e n t 5...........................
8.2
8 .5
R e s i d e n t i a l .........................................................
33.6
-0.3
S t r u c t u r e s ....................................................
33.1
-0.5 -11.2 -18.9 -19.3 -0.17 -4.32 -7.30 -6.91
P e r m a n e n t s i t e ...................................
1 9 .9
S i n g l e f a m i l y ...................................
1 7 .1
S o f tw a re
3..........................................
O t h e r 4 ..................................................
-
0.8
1.8
-9 .0
1 3 .6
-
22.8
7 .4
-
0.2
- 7 .8
2 .4 6
- 5 .4
- 0 .2 8
0 .9 8
1 3 .6
- 1 4 .0
1 .9 0
- 1 .9 1
0 .9 2
- 1 .0 5
3 .8
- 0 .9
0 .5 6
0 .3 0
- 0 .0 7
0.66
- 1 7 .6
- 2 5 .0
- 2 9 .7
0 .1 9
- 4 .4 6
- 6 .2 8
-6 .9 1
- 1 9 .2
- 2 8 .6
- 3 4 .5
-0 .3 9
- 4 .3 9
- 6 .4 7
- 7 .2 3
7 .8
1 2 .3
0 .5 8
-0 .0 7
0 .1 9
0 .3 2
O t h e r s t r u c t u r e s 6.............................
1 3 .3
- 2 .7
E q u i p m e n t ...................................................
0 .5
1 3 .6
-2.9
2 5 .7
9 .3
Investment in equipment and software turned down; a
deceleration in information processing equipment
and software and a downturn in transportation equip
ment were the main contributors.
Residential investment decreased about the same in
the fourth quarter as in the third quarter. A larger
decrease in single-family structures was offset by a up
turn in “other” structures, notably brokers’ commis
sions.
11.1 -18.7 -19.1 -0.11 -4.33 -7.31 -6.91
2.6
1.1
M u l t i f a m i l y ..........................................
2.8
3 1 .6
Investment in nonresidential structures turned down,
mainly reflecting downturns in commercial and
health care structures, power and communication
structures, and manufacturing structures.
-
- 7 .5
-2.2
0.0
- 1 .3
-0 .3 6
0.06
-
0 .1 4
-
1.02
0.01
-
0.01
-
Chart 3. Real Private Fixed Investment
0.00
P ercent ch a n g e from the preced ing q u a rte r
0.01
15
1 . T h e e s t i m a t e s o f fix e d in v e s tm e n t u n d e r t h e c o n trib u tio n c o l u m n s a r e a l s o p e r c e n t c h a n g e s
2 . C o n s i s t s p rim a rily o f r e lig io u s , e d u c a tio n a l , v o c a tio n a l, lo d g in g , r a il r o a d s , f a r m , a n d a m u s e m e n t a n d
r e c re a tio n a l s tr u c tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s io n s o n th e s a le of s tr u c
10
tu re s .
3 . E x c l u d e s s o f t w a r e “e m b e d d e d , ” o r b u n d l e d , in c o m p u t e r s a n d o t h e r e q u i p m e n t .
4 . I n c lu d e s c o m m u n ic a tio n e q u ip m e n t, n o n m e d ic a l in s tru m e n ts , m e d ic a l e q u ip m e n t a n d in s tru m e n ts ,
p h o to c o p y a n d r e la te d e q u ip m e n t, a n d o ffic e a n d a c c o u n tin g e q u ip m e n t.
5
5 . C o n s i s t s p r im a r il y o f f u r n i tu r e a n d f ix tu r e s , a g r ic u ltu r a l m a c h in e r y , c o n s t r u c t i o n m a c h in e r y , m in in g
a n d o ilf ie ld m a c h i n e r y , s e r v i c e i n d u s t r y m a c h i n e r y , a n d e l e c t r i c a l e q u i p m e n t n o t e l s e w h e r e c l a s s i f i e d .
6 C o n s is ts
p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n t s , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s t r u c
tu r e s , a n d b r o k e r s ’ c o m m is s io n s o n th e s a le o f re s id e n tia l s tr u c tu re s .
0
N ote . P e r c e n t c h a n g e s a r e f r o m N IP A t a b l e 5 . 3 . 1 , c o n t r i b u t i o n s a r e f r o m N IP A t a b l e 5 . 3 . 2 , a n d s h a r e s
a r e c a l c u l a t e d f r o m N IP A t a b l e 5 . 3 . 5 .
-5
-1 0
2003
2004
2005
2006
C ontributions to th e in crease in real private fixed investm ent in 2 0 0 6 :IV
Percentage points at an annual rate
U.S. Bureau of Economic Analysis
March 2007
S urvey
of
5
C u rr e n t B u sin e ss
Inventory Investm ent
Table 5. Real Change in Private Inventories by Industry
[B i llio n s o f c h a i n e d ( 2 0 0 0 ) d o lla r s ; s e a s o n a l l y a d j u s t e d a t a n n u a l r a t e s ]
C h a n g e fro m
L evel
2006
2005
C h a n g e in p r iv a t e i n v e n t o r i e s 1
p re c e d in g q u a rte r
2006
4 3 .5
4 1 .2
5 3 .7
5 5 .4
1 7 .3
-2 .3
1 2 .5
1 .7
F a r m ....................................................................................
4 .8
4 .3
1 .9
2 .5
2 .4
-0 .5
- 2 .4
0.6
M i n i n g , u t i l i t i e s , a n d c o n s t r u c t i o n ..........
- 0 .5
2.0
5 .4
1.6
1.0
-1 .5
7 .4
- 3 .8
-1.0
-
M a n u f a c t u r i n g ......................................................
0 .5
7 .6
11.1
10.1
8 .5
7 .1
3 .5
D u r a b l e - g o o d s i n d u s t r i e s ..................
- 1 .3
-0.1
5 .7
9 .4
1 4 .3
1.2
5 .8
3 .7
N o n d u r a b l e - g o o d s i n d u s t r i e s ........
1 .5
7 .1
5 .2
1.1
-4 .8
5 .6
- 1 .9
- 4 .1
W h o l e s a l e t r a d e ................................................
1 3 .3
1 5 .0
1 9 .3
3 3 .7
8.1
1 .7
4 .3
1 4 .4
D u r a b l e - g o o d s i n d u s t r i e s ..................
1 7 .8
6 .4
1 5 .3
2 7 .7
4 .8
-1 1 .4
8 .9
1 2 .4
N o n d u r a b l e - g o o d s i n d u s t r i e s .......
- 3 .3
8.2
4 .5
6 .9
3 .2
1 1 .5
- 3 .7
2 .4
R e t a i l t r a d e .............................................................
2 6 .4
12.8
7 .8
2.2
- 7 .9
- 1 3 .6
- 5 .0
- 5 .6
M o to r v e h ic le a n d p a r t s d e a l e r s .
1 9 .8
5 .5
1.0
1.0
- 1 7 .6
- 1 4 .3
- 4 .5
-8.2
-0.8
0.2
-0.2
- 0 .3
- 0 .5
4 .8
4 .7
- 5 .8
4 .2
5 .3
10.8
6.1
3 .6
3 .5
5 .7
- 4 .7
- 2 .5
1.0
F o o d a n d b e v e r a g e s t o r e s ................
1 .3
G e n e r a l m e r c h a n d i s e s t o r e s .........
1.1
- 4 .7
O t h e r r e t a i l s t o r e s .....................................
5 .1
0.8
- 7 .2
0.0
5 .2
7 .4
5 .1
3 .6
4 .4
2.2
- 2 .3
-3 .6
- 0 .5
0 .7
- 0 .3
2 .4
3 .1
1.2
-1.0
P r i v a t e i n v e n t o r i e s t o f i n a l s a l e s ..........
2 .4 2
2 .4 0
2 .4 0
2 .4 1
2 .3 9
N o n f a r m i n v e n t o r i e s t o f i n a l s a l e s ....
2.22
2.20
2.20
2.21
2.20
3 .5 5
3 .4 8
3 .5 0
3 .5 2
3 .5 0
O t h e r i n d u s t r i e s .................................................
R e s i d u a l 2................................................................
- 3 8 .1
A d d e n d a : R a tio s o f p riv a te
in v e n to r ie s to fin a l s a l e s o f
d o m e s tic b u s in e s s
:3
Real inventory investment turned down, decreasing
$38.1 billion; in contrast, in the third quarter, it in
creased $1.7 billion.
Inventory investment in the mining, utilities, and con
struction industries decreased $0.6 billion after de
creasing $3.8 billion.
Inventory investment in manufacturing decreased $1.6
billion in the fourth quarter after decreasing $1.0 bil
lion, reflecting a larger decrease in nondurable-goods
industries that more than offset a step-up in durablegoods industries.
Inventory investment in wholesale trade turned down
sharply. The downturn was widespread across both durable-goods and nondurable-goods industries.
Inventory investment in retail trade decreased more
than in the third quarter, primarily reflecting a larger
decrease in investment by retail motor vehicle and parts
dealers.
N o n f a r m i n v e n to r ie s to f in a l s a l e s o f
g o o d s a n d s t r u c t u r e s ................................
Chart 4. Real Private Inventory Investment
1 . T h e l e v e l s a r e f r o m N IP A t a b l e 5 . 6 . 6 B .
2 . T h e r e s i d u a l i s t h e d i f f e r e n c e b e t w e e n t h e f i r s t l i n e a n d t h e s u m o f t h e m o s t d e t a i l e d l i n e s . It r e f l e c t s
t h a t c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e , b e c a u s e th e y a r e b a s e d o n q u a n tity in d e x e s t h a t
Billions of chained (2 0 0 0 ) dollars
u s e w e ig h ts o f m o r e th a n o n e p e rio d .
80
B a s e d o n s e a s o n a lly a d ju s te d a n n u a l ra te s
3 . T h e r a t i o s a r e f r o m N IP A t a b l e 5 . 7 . 6 B .
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.
I
40
20
0
-2 0
-4 0
-6 0
'
-8 0
2003
2004
1
2005
2006
Com position of inventory investm ent in 2 0 0 6 :IV
-0 .1
Mining, utilities, and construction
Manufacturing
-3 0
-2 5
-2 0
U.S. Bureau of Economic Analysis
-1 5
-1 0
GDP and the Economy
6
March 2007
E xports and Im ports
Table 6. Real Exports and Imports of Goods and Services
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
S h a re of
c u rre n td o lla r
C h a n g e fro m
e x p o rts
p r e c e d in g p e rio d
and
(p e r c e n t)
C o n trib u tio n to
p e r c e n t c h a n g e in
re a l e x p o r ts a n d im p o r ts
(p e r c e n ta g e p o in ts )
im p o r ts
(p e r c e n t)
2006
2006
I
IV
2006
II
III
IV
I
II
III
IV
E x p o rts o f g o o d s a n d
1 .......................................
100.0
1 4 .0
6.2
6.8
1 0 .5
1 4 .0
2................................
7 0 .8
1 7 .3
6.0
9 .4
8 .5
1 1 .9 2
F o o d s , fe e d s , a n d b e v e r a g e s ..
4 .5
1 5 .8
2 0 .7
1 3 .2
- 1 8 .3
1 8 .3
2 6 .5
1 4 .4
3 .1
2 8 .5
1 6 .3
s e rv ic e s
E x p o rts o f g o o d s
6.2
6.8
1 0 .5
4 .2 2
6 .5 8
6 .0 5 /
0 .6 9
0.86
0 .5 9
- 0 .9 3
9 .5
4 .3 6
2 .4 8
0 .5 8
1 .7 3
5 .6
1 5 .0
4 .5 9
1 .8 5
1 .5 8
4 .1 1
2 6 .9
- 7 .8
0.22
- 0 .3 5
1 .8 1
- 0 .5 9
1 5 .2
1 4 .9
1 .3 9
1 .2 9
1 .2 8
I n d u s tr ia l s u p p li e s a n d
m a t e r i a l s .................................................
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ............................................
6.6
Real export growth accelerated, reflecting an accelera
tion in exports of services that more than offset a
small deceleration in exports of goods.
The deceleration in exports of goods reflected down
turns in automotive vehicles, engines, and parts and in
foods, feeds, and beverages. The downturns were
partly offset by step-ups in nonautomotive capital
goods and in industrial supplies and materials.
Exports of services accelerated, primarily reflecting an
upturn in travel and an acceleration in “other” private
services.
A u to m o tiv e v e h ic le s , e n g i n e s ,
7 .2
2 .7
9 .0
1 5 .7
O t h e r ................................................................
3 .4
2 0 .5
- 1 9 .7
1 3 .8
0.68
- 0 .7 2
0 .7 3
0 .4 5
2..........................
2 9 .2
6 .7
6 .7
0.8
1 5 .5
2 .0 7
1 .9 7
0 .2 5
4 .4 3
100.0
9 .1
1 .4
5 .6
-
9 .1
1 .4
5 .6
7 .9 0
- 0 .0 5
5 .9 8
- 3 .2 6 '
0 .5 4
- 0 .1 6
0 .3 3
- 0 .0 4
a n d p a r t s ...............................................
-4 .6
C o n su m er goods, except
a u t o m o t i v e ............................................
E x p o r ts o f s e r v i c e s
1.1
2 4 .0
0.10
Im p o r ts o f g o o d s a n d
s e rv ic e s
1.......................................
2................................
8 4 .0
9 .4
F o o d s , f e e d s , a n d b e v e r a g e s ..
3 .5
1 6 .5
Im p o rts o f g o o d s
-
0.1
- 4 .8
7 .1
1 0 .4
2.2
- 3 .8
-
1.2
-
2.2
Real imports turned down, reflecting a downturn in
imports of goods.
The downturn in imports of goods primarily reflected
downturns in nonpetroleum industrial supplies and
materials, in petroleum and products, and in nonau
tomotive capital goods.
In d u s tr ia l s u p p li e s a n d
m a te r ia ls , e x c e p t p e tro le u m
a n d p r o d u c t s .....................................
P e tr o le u m a n d p r o d u c ts
1.2
1 4 .2
- 1 9 .6
0 .2 7
- 0 .1 5
1 .7 7
- 2 .8 4
7 .1
- 2 0 .4
- 0 .6 7
- 2 .7 8
1.01
- 3 .0 1
11.6
1 3 .5
- 2 .7
2 .0 5
2 .4 1
- 0 .5 1
1 4 .3
- 1 .3
- 8 .3
7 .3
1 .6 5
- 0 .1 5
- 0 .9 7
0 .8 0
1 3 .0
1 .9
1 1 .9
- 4 .8
1 9 .2
1 6 .1
11.6
-
- 1 8 .3
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ............................................
2.88
Imports of services turned up, primarily reflecting an
upturn in travel by U.S. citizens abroad and an accel
eration in “other” private services.
A u to m o tiv e v e h ic le s , e n g i n e s ,
a n d p a r t s ...............................................
C o n su m er goods, except
a u t o m o t i v e ............................................
21.1
8 .4
5 .7
1 5 .2
1 8 .2
1 .6 4
1 .0 7
2 .8 0
3 .3 9
O t h e r ................................................................
3 .8
4 4 .1
1 .9
- 2 8 .6
- 2 3 .9
1 .6 1
0 .0 8
- 1 .3 8
- 1 .0 4
2 .........................
1 6 .0
7 .4
9 .9
2.6
7 .1
1 .1 5
1 .4 9
- 0 .4 0
4 .9
2 3 .8
1 9 .1
2.1
- 1 7 .9
6 5 .8
1 6 .8
5 .1
10.0
7 2 .1
1 2 .3
3 .9
7 .2
Im p o rts o f s e r v i c e s
-
1 .0 7 /
A ddenda:
E x p o r ts o f a g ric u ltu ra l g o o d s
3
E x p o r ts o f n o n a g ric u ltu r a l
10.8
I m p o r ts o f n o n p e tro le u m
-0 .4
1. T h e e s tim a te s u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
2.
E x p o r ts a n d
im p o rts of c e r ta in
g o o d s , p rim a rily m ilita ry e q u i p m e n t p u r c h a s e d
and
s o ld
b y th e
F e d e r a l G o v e r n m e n t , a r e i n c l u d e d in s e r v i c e s .
Chart 5. Real Exports and Imports of Goods
and Services
3 . I n c lu d e s p a r t s o f f o o d s , f e e d s , a n d b e v e r a g e s , o f n o n d u r a b le in d u s tria l s u p p li e s a n d m a te r ia ls , a n d
of n o n d u r a b le n o n a u to m o tiv e c o n s u m e r g o o d s .
N ote . P e r c e n t c h a n g e s a r e f r o m N IP A t a b l e 4 . 2 . 1 , c o n t r i b u t i o n s a r e f r o m N IP A t a b l e 4 . 2 . 2 , a n d s h a r e s
P e r c e n t c h a n g e fro m
th e p re c e d in g q u a rte r
20
a r e c a l c u l a t e d f r o m N IP A t a b l e 4 . 2 . 5 .
15
10
5
0
-5
2003
2004
U.S. Bureau of Economic Analysis
2005
2006
March 2007
S urvey
of
7
C u rr en t B u sin ess
G overnm en t S pending
Table 7. Real Government Consumption Expenditures
and Gross Investment (CEGI)
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
S h a re of
c u rre n t-
C h a n g e fro m
C o n trib u tio n to p e r c e n t
d o lla r
p r e c e d in g p e rio d
c h a n g e in r e a l C E G I
CEGI
(p e r c e n t)
(p e r c e n ta g e p o in ts )
(p e rc e n t)
2006
2006
2006
I
II
III
IV
4.9
0.8
1.7
3.3
2 .0 6
2 .9 8
- 0 .3 9
0 .2 8
I
II
Government consum ption expen
ditures and gross investm ent1...
100.0
4.9
0.8
C o n s u m p tio n e x p e n d itu r e s
8 2 .9
4 .4
G r o s s i n v e s t m e n t .....................................
1 7 .1
7 .6
Federal..............................................
36.4
8.8
-4.5
National d e fe n se .........................
24.7
8.9
-2.0
2 1 .5
9 .1
^ .1
- 0 .9
1 1 .3
1 .9 1
- 0 .9 1
-
3 .2
7 .9
1 4 .1
- 3 .1
1 9 .0
0 .2 4
0 .4 1
-
11.7
8.5
-9.3
6.5 -10.2
1.02 -1.19
0.77 -1.28
8.1
10.8
- 5 .0
6 .5
- 9 .1
0 .8 5
- 0 .5 5
0 .6 7
- 0 .9 9
- 3 2 .9
6 .7
- 1 7 .3
0 .1 8
- 0 .6 5
0.10
- 0 .2 8
G r o s s i n v e s t m e n t .....................................
Nondefense...................................
C o n s u m p tio n e x p e n d itu r e s
1 0 .3
G r o s s i n v e s t m e n t .....................................
State and lo ca l..................................
G r o s s i n v e s t m e n t ..........................................
1 .5
III
IV
IV
C o n s u m p tio n e x p e n d itu r e s
Real government spending picked up, reflecting an ac
celeration in consumption expenditures and an up
turn in gross investment that was due to an upturn in
investment in structures.
1.7
3.3
- 0 .5
2 .5
3 .6
3 .6 5
7 .4
- 2 .3
1.6
1 .2 6
1.3
4.4
3.17 -1.69
-1.2
12.3
- 0 .4 1
1.22
0.47
1.58
2.15 -0.50 -0.30
2.86
0.20
0.10
2 .3 1
0 .5 5
63.6
2.7
4.0
1.9
2.6
1.74
2.50
1.20
5 1 .1
1 .7
2.1
3 .1
3 .3
0 .8 9
1 .0 5
1 .5 9
1 .6 7
1 2 .5
7 .0
1 2 .5
- 3 .1
0.1
0 .8 5
1 .4 6
- 0 .3 9
0.01
Federal Government spending accelerated, reflecting
an upturn in national defense spending that more
than offset a downturn in nondefense spending.
State and local government spending accelerated, re
flecting an upturn in gross investment that primarily
reflected a smaller decrease in structures than in the
third quarter; consumption expenditures accelerated.
1.69
1. T h e e s tim a te s u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
N o t e . P e r c e n t c h a n g e s a r e f r o m N I P A t a b l e 3 . 9 . 1 , c o n t r i b u t i o n s f r o m N IP A t a b l e 3 . 9 . 2 , a n d s h a r e s a r e
c a l c u l a t e d f r o m N IP A t a b l e 3 . 9 . 5 .
Chart 6. Real Government Consumption Expenditures
and Gross Investment_______________________
Government Spending
“Government consumption expenditures and gross invest
ment,” or “government spending,” consists of two main
components: (1) Consumption expenditures by Federal
and by state and local governments and (2) gross invest
ment by government and government-owned enterprises.
Government consumption expenditures consists of the
goods and services that are produced by general govern
ment (less any sales to other sectors and investment goods
produced by government itself). Governments generally
provide services to the general public without charge. The
value of government production—that is, government’s
gross output—is measured as spending for labor and capi
tal services and for intermediate goods and services.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 and gross investment excludes
current transactions of government-owned enterprises,
current transfer payments, interest payments, subsidies,
and transactions in financial assets and nonproduced assets,
such as land.
1. Capital services is also known as consumption of fixed capital (depre
ciation) and represents a partial measure of the services provided by gov
ernment-owned fixed capital.
Percent change from the preceding quarter
8
B a se d
o n
s e a s o n a lly
6
a d ju s te d
ll
4
2
1
I.li.l.l.l.l
]..
i
1
t
-2
1
1.
I.
1.
2003
ll
1
.t.l l l t l . L . l i . l j .
o
a n n u a l ra te s
1
l
2004
"I.
1.
L
1.
1
L ... .. ..
2005
___
2006
Contributions to the increase in the fourth quarter of 2006
National defense spen ding
Nondefense s| >ending
State and local govern ment spending
-2
0
2
P e r c e n ta g e p o in ts a t a n a n n u a l ra te
U.S. Bureau of Economic Analysis
4
8
GDP and the Economy
March 2007
P rices
Table 8. Prices for Gross Domestic Purchases
[P e r c e n t c h a n g e a t a n n u a l ra te s ; b a s e d o n s e a s o n a lly a d ju s te d in d e x n u m b e r s ( 2 0 0 0 = 1 0 0 ) ]
C o n trib u tio n to p e r c e n t
C h a n g e fro m
c h a n g e in g r o s s d o m e s t i c
p r e c e d in g p e rio d
p u r c h a s e s p r ic e s
(p e r c e n t)
( p e r c e n ta g e p o in ts )
2006
2006
I
II
III
G ross dom estic purchases1 ....................
2.7
4.0
2.2
0.2
2.7
4.0
Personal consum ption expenditures.........
2.0
4.0
2.4
-0.9
1.35
2.66
D u r a b l e g o o d s ..........................................................................
N o n d u r a b l e g o o d s ................................................................
S e r v i c e s .........................................................................................
Gross private dom estic investm ent............
-
1.0
1.1
3 .1
-
IV
1.1
-2 .7
8 .3
2 .3
-7 .7
2 .9
3 .0
3 .0
0.8
-
I
- 0 .0 7
0.21
1.22
II
III
IV
2.2
0.2
1.55 -0.58
-
0.21
- 0 .0 6
- 0 .0 8
1 .5 8
0 .4 6
- 1 .5 5
1 .1 5
1 .1 8
1 .1 8
3.7
3.1
0.6
3.2
0.58
0.50
0.10
0.49
F i x e d i n v e s t m e n t ...................................................................
3 .8
3 .0
0 .5
3 .1
0 .5 9
0 .4 7
0 .0 8
0 .4 7
N o n r e s i d e n t i a l ...................................................................
3 .7
3 .0
0 .9
2 .S
0 .3 6
0 .3 0
0 .0 9
0 .2 6 .
S t r u c t u r e s ........................................................................
1 2 .4
1 0 .7
5 .3
5 .4
0 .3 2
0 .2 9
0 .1 5
0 .1 6
0.6
0.1
-0 .9
1 .5
0 .0 4
0.01
- 0 .0 6
3 .8
2.9
-
4 .1
0 .2 3
0 .1 7
- 0.01
0.01
0 .0 3
0.02
1.6
0.79
0.86
0.51
0.0
0 .4 9
0 .2 5
0 .1 3
0 .2 9
0 .1 8
0.10
0.20
0 .0 7
0 .0 3
0.02
0.02
0 .3 0
0 .6 1
0 .3 8
0 .2 9
0 .2 4
0 .1 6
0 .2 8
0.11
1 .3 7
0 .0 3
-2 .0 3
2 .5 9
2 .4 9
1 .8 5
2 .0 3
E q u i p m e n t a n d s o f t w a r e ...................................
R e s i d e n t i a l ............................................................................
0.1
C h a n g e in p r i v a t e i n v e n t o r i e s ...................................
Government consum ption expenditures
and gross investm ent................................
-
4.4
4.8
2.8
F e d e r a l ............................................................................................
7 .6
3 .8
2.0
N a t i o n a l d e f e n s e .............................................................
6 .7
4 .1
2 .3
N o n d e f e n s e ..........................................................................
9 .5
3 .2
1 .4
2.6
5 .4
3 .4
1 .7
3 .0
S t a t e a n d l o c a l ........................................................................
- 0 .3
0.8
2.6
0.10
0.21
0.02
0 .3 0 '
0.00
-
Addenda:
G ro s s d o m e s tic p u rc h a s e s :
F o o d ...................................................................................................
2.6
2 .3
E n e r g y g o o d s a n d s e r v i c e s ........................................
- 2 .4
3 0 .6
E x c l u d i n g f o o d a n d e n e r g y ..........................................
3 .0
2 .9
0.6
2.2
1 .7
2 .9
1 .9
3 .7
- 3 6 .0
E x c l u d i n g f o o d a n d e n e r g y ..........................................
2.8
0.1
2.1
“M a r k e t - b a s e d ” P C E .........................................................
- 3 3 .8
-
2 .4
0.21
P e r s o n a l c o n s u m p tio n e x p e n d itu r e s (P C E ):
F o o d ...................................................................................................
E n e r g y g o o d s a n d s e r v i c e s .........................................
E x c l u d i n g f o o d a n d e n e r g y ....................................
G r o s s d o m e s t i c p r o d u c t ........................................................
2 9 .7
2.1
2.2
1 .7
4.2
2.2
1.6
2 .7
1 .9
1.6
1.6
3 .3
3 .3
1 .9
1 .7
1 .9
-
Inflation, as measured by the price index for gross do
mestic purchases, was 0.2 percent, compared with 2.2
percent in the third quarter. It was the slowest rate of
inflation since the first quarter of 1998. Energy prices
turned down sharply, decreasing 33.8 percent. Food
prices decelerated. Excluding food and energy, infla
tion was 2.4 percent, compared with 2.2 percent in the
third quarter.
1. T h e e s tim a te s u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
Consumer prices, as measured by the PCE price index,
turned down, reflecting a sharp downturn in energy
prices and a deceleration in food prices.
Prices paid for nonresidential fixed investment accel
erated, primarily reflecting an upturn in prices paid
for transportation equipment.
Prices paid for residential investment turned up, in
creasing 4.1 percent after decreasing 0.1 percent.
Prices paid by government slowed. Prices paid by the
Federal Government were unchanged after increasing
2.0 percent, and prices paid by state and local govern
ments decelerated.
Consumer prices excluding food and energy, a mea
sure of the “core” rate of inflation, slowed, increasing
1.9 percent after increasing 2.2 percent.
The “market-based” PCE price index decreased 1.6
percent; excluding food and energy, it increased 1.6
percent.
N ote . A ll t h e p e r c e n t c h a n g e s e x c e p t t h o s e f o r P C E f o r f o o d a n d e n e r g y g o o d s a n d s e r v i c e s a n d f o r
P C E e x c l u d i n g f o o d a n d e n e r g y a r e f r o m N IP A t a b l e 1 . 6 . 7 ; t h e c h a n g e s f o r P C E a r e c a l c u l a t e d f r o m i n d e x
n u m b e r s in N IP A t a b l e 2 . 3 . 4 . T h e c o n t r i b u t i o n s a r e f r o m N IP A t a b l e 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).
Chart 7. Gross Domestic Purchases Prices
P e r c e n t c h a n g e fro m
5
I T o ta l
th e p re c e d in g q u a rte r
L e s s fo o d a n d e n e r g y
4
3
2
1
0
Jl
2003
2004
2005
Note. Percent change at annual rate from preceding quarter;
based on seasonally adjusted index numbers (2000=100).
U.S. Bureau of Economic Analysis
2006
March 2007
9
S u r v e y o f C u r r e n t B u s in e s s
R evisions
Table 9. Advance and Preliminary Estimates for the Fourth Quarter of 2006
[S e a s o n a lly a d ju s te d a t a n n u a l ra te s ]
C h a n g e fro m
C o n trib u tio n to p e r c e n t
p re c e d in g q u a rte r
c h a n g e in r e a l G D P
(p e r c e n t)
(p e r c e n ta g e p o in ts )
P r e lim
A d
P r e lim
vance
in a ry
in a ry
m in u s
ad
A d
P r e lim
vance
in a ry
vance
Gross dom estic product (GDP)1.
3.5
2.2
- 1 .3
3 .5
2.2
4 .4
4 .2
2 .1 3
2.88
6.0
6.9
2.9
4.4
6.0
3.2
-0.2
-1.6
-0.9
0.3
11.0
-7.3
-0.4
-15.6
-8.5
-2.4
-0.8
-3.2
-19.1
-4.6
-1.2
-2.0
-3.6
-1.4
0.1
- 0 .3 4
- 2 .7 8
-0.24
-1.43
-0.26
-0.03
-0.24
-1.16
Personal consum ption expenditures.
D u r a b l e g o o d s ...........................................................
N o n d u r a b l e g o o d s .................................................
S e r v i c e s ..........................................................................
Gross private dom estic investm ent.
F i x e d i n v e s t m e n t .................................................
N o n r e s i d e n t i a l .................................................
-
2.8
S t r u c t u r e s ......................................................
E q u i p m e n t a n d s o f t w a r e .................
R e s i d e n t i a l ..........................................................
-
1.8
-19.2
C h a n g e in p r i v a t e i n v e n t o r i e s .................
Net exports o f goods and s e rv ic e s ..
E x p o r t s ..........................................................................
G o o d s ......................................................................
S e r v i c e s .................................................................
10.0
8.8
13.0
0.66
0.35
1.19
0.33
1.15
0.88
0.41
0.46
- 1.12
- 0.10
1 .3 4
1 .5 0
1.13
0.65
0.48
0.5
-0.3
2.5
0.70
0.75
-0.05
I m p o r t s .....................................................................................................
-3.2
-2.2
1.0
-1.28
0 .3 8
G o o d s ................. ...............................................................................
-5.0
6.7
-3.8
7.1
1.2
0.4
-1.31
0.03
0.56
-0.18
S e r v i c e s ............................................................................................
Government consum ption expenditures and
gross investm ent.............................................
F e d e r a l .....................................................................................................
N a t i o n a l d e f e n s e ......................................................................
N o n d e f e n s e ..................................................................................
S t a t e a n d l o c a l ................................................................................
3.7
4.5
11.9
-9.3
3.3
3 .3
-0 .4
0 .3 7
0 .6 2
4.4
0.12
2.6
-0.1
0.4
-0.9
-0.7
-0.03
0.15
0.25
0.30
0.54
-0.24
0.32
1.68
3.57
12.3
-
10.2
0.86
0.19
The downward revision to consumer spending re
flected new Census Bureau retail data and new vehicle
registration data. Downward revisions to nondurable
goods and durable goods were widespread.
- 1 .3 5
- 0 .5 8
10.5
8.5
15.5
0.75,
-0.31
The 2.2-percent preliminary estimate of real GDP
growth is 1.3 percentage points less than the advance
estimate. The average revision (without regard to
sign) between the “advance” and “preliminary” esti
mates is 0.5 percentage point; only seven times in 30
years has the revision been 1.3 percentage points or
more. The downward revision to the percent change
in real GDP primarily reflected downward revisions to
inventory investment and to consumer spending and
an upward revision to imports of goods.
The downward revision to inventory investment re
flected new Census Bureau data; a downward revision
to wholesale trade inventories was partly offset by an
upward revision to retail trade industries.
The upward revision to imports of goods reflected
new Census Bureau goods data. Automotive vehicles,
engines, and parts were revised up.
Addenda:
F i n a l s a l e s o f d o m e s t i c p r o d u c t ....................
4.2
3.6
-0.6
G r o s s d o m e s tic p u r c h a s e s p ric e i n d e x .
0.1
0.2
0.1
G D P p r i c e i n d e x ...........................................................
1.5
1.7
0.2
1. T h e e s tim a te s fo r G D P u n d e r th e c o n trib u tio n c o lu m n s a r e a ls o p e r c e n t c h a n g e s .
Personal Income for the Third Quarter
Source Data for the Preliminary Estimates
Personal consumption expenditures: Retail sales for Novem
ber and December (revised). Motor vehicle registrations for
October and November (revised) and December (new).
Retail electricity sales for November (new) and natural gas
sales for October (revised) and November (new).
Nonresidential fixed investment: Construction put in place
for October and November (revised) and December (new).
Manufacturers’ shipments of machinery and equipment for
October-December (revised).
Residential investment: Construction put in place for
October and November (revised) and December (new).
Change in private inventories: Manufacturers’ inventories
for November and December (revised) and trade inventories
for November (revised) and December (new).
Exports and imports of goods and services: International
transactions for October and November (revised) and
December (new).
Government consumption expenditures and gross invest
ment: State and local construction put in place for October
and November (revised) and December (new).
With the release of the preliminary estimates of GDP, BEA
also releases revised estimates of various income-related
series for the previous quarter. This revision reflects the
incorporation of newly available, third-quarter tabulations
from the quarterly census of employment and wages from
the Bureau of Labor Statistics.
Wages and salaries increased $46.7 billion in the third
quarter, a downward revision of $26.9 billion. Personal cur
rent taxes increased $1.5 billion, a downward revision of
$3.7 billion. Contributions for government social insur
ance—a subtraction in calculating personal income— in
creased $6.4 billion, a downward revision of $3.7 billion. As
a result of these revisions
• Personal income increased $132.1 billion, a downward
revision of $25.1 billion.
• Disposable personal income increased $130.8 billion, a
downward revision of $21.3 billion.
• Personal saving decreased $2.2 billion, a downward revi
sion of $21.3 billion.
• The personal saving rate was -1.4 percent, a downward
revision of 0.2 percentage point.
10
March 2007
Federal Budget Estimates for Fiscal Year 2008
B y M ary L. Roy and Andrew P. Cairns
N February 5, 2007, the President submitted the
Federal Budget o f the United States Government,
Fiscal Year 2008 to Congress.1 For fiscal year 2008, the
Federal budget projects a $239.4 billion deficit, a $4.8
billion decrease from the $244.2 billion deficit that is
projected for fiscal year 2007. Fiscal year 2006 ended
with a $248.2 billion deficit.2
The budget is presented on a “unified budget” basis,
in effect, on a cash basis. It is a financial plan for the
Federal Government. Based on this proposed budget,
the Bureau o f Economic Analysis annually prepares es
timates o f Federal Government current receipts and
expenditures. These translated estimates are consistent
with the national income and product accounts
(NIPAs), which are designed to broadly measure out
put and income from production (see the box “NIPA
Estimates o f the Federal Sector and the Federal Budget
Estimates” ). Because the estimates o f receipts and ex
penditures are based on the budget estimates, they em
body the same assum ptions about unemployment,
inflation, long-term interest rates, and other variables.3
This analysis thus provides a way to gauge the effects
o f the Federal budget on various aggregate measures o f
U.S. economic activity, such as the Federal Govern
m ent’s im pact on national saving. The results o f the
analysis include the following:
•N IP A net Federal Government saving for fiscal year
2008 is projected to be -$238.3 billion, a $4.9 bil
lion decrease from net Federal Government saving
o f -$233.4 billion that is projected for fiscal year
2007.
• Proposed legislative and program changes would
add $201.2 billion to the Federal budget deficit in
fiscal year 2008; the increase mainly reflects a pro
posed appropriation to continue funding for the
O
global war on terror and a proposed extension of
the alternative m inim um tax relief for individuals.
The rest o f this article is divided into four sections.
First, the budget estimates are summarized, and the ef
fects o f the m ajor legislative proposals and program
changes on the budget are reviewed. Second, the b u d
get projections and the NIPA estimates are compared.
Third, annual and quarterly NIPA estimates for fiscal
years 2007 and 2008 that are based on the budget are
presented. Fourth, the methodology used to translate
the budget projections into the NIPA framework is ex
plained.
T h e B ud get E stim ates
Federal budget receipts in fiscal year 2008 are projected
to increase $122.4 billion, to $2,662.5 billion, accord
ing to the President’s budget proposal (table 1). Federal
budget receipts in fiscal year 2007 are estimated to be
$2,540.1 billion, a $132.8 billion increase. The deceler
ation is more than accounted for by a deceleration in
individual income taxes, which would increase $77.8
billion in 2008 after increasing $124.9 billion in 2007,
and a continued decline in corporation income taxes,
which would decrease $27.1 billion after decreasing
$11.9 billion in 2007. The deceleration in budget re
ceipts in 2008 is tempered by an acceleration in social
insurance taxes and contributions, which would in
crease $53.8 billion after increasing $35.6 billion, and
by an upturn in excise taxes, which would increase
$11.0 billion after decreasing $16.9 billion.
Table 1. Budget Receipts by Source
[B i llio n s o f d o l l a r s ]
L e v e l fo r fis c a l y e a r
1. Executive Office of the President, Office of Management and Budget,
Budget o f the United States Government, Fiscal Year 2008 (Washington, DC:
U.S. Government Printing Office, 2007); <www.whitehouse.gov/omb/budget/fy2008/budget.html>.
2. These estimates of the Federal budget are derived from all Federal
transactions; they are the difference between the unified budget receipts
and the unified budget outlays. Other measures of the Federal budget that
differ from these measures may present off-budget and on-budget transac
tions and trust funds surplus and Federal funds deficit.
3. See “Economic Assumptions,” in Analytical Perspectives: Budget o f the
United States Government, Fiscal Year 2008, 165—174.
2005
Budget receipts............................
2006
2007
C h a n g e fro m p r e c e d in g y e a r
2008
2006
2007
2008
2,153.9
2,407.3
2,540.1
2,662.5
253.4
132.8
I n d i v i d u a l i n c o m e t a x e s .....................
9 2 7 .2
1 ,0 4 3 .9
1 ,1 6 8 .8
1 ,2 4 6 .6
1 1 6 .7
1 2 4 .9
7 7 .8
C o r p o r a tio n in c o m e ta x e s
2 7 8 .3
3 5 3 .9
3 4 2 .1
3 1 4 .9
7 5 .6
- 1 1 .9
- 2 7 .1
122.4
5 3 .8
S o c ia l in s u r a n c e ta x e s a n d
c o n t r i b u t i o n s ..........................................
7 9 4 .1
8 3 7 .8
8 7 3 .4
9 2 7 .2
4 3 .7
3 5 .6
E x c i s e t a x e s .................................................
7 3 .1
7 4 .0
5 7 .1
68.1
0 .9
- 1 6 .9
E s t a t e a n d g if t t a x e s .............................
2 4 .8
2 7 .9
2 5 .3
2 5 .7
3 .1
C u s t o m s d u t i e s ........................................
2 3 .4
2 4 .8
2 6 .8
2 9 .2
M i s c e l l a n e o u s r e c e i p t s ......................
3 3 .0
4 5 .0
4 6 .7
5 0 .7
Source: Budget of the United States Government, Fiscal Year 2008.
11.0
0 .4
1 .4
2.6
2.0
12.0
1 .7
4 .0
-
2 .5
March 2007
S u r v e y o f C u r r e n t B u s in e s s
11
NIPA Estimates of the Federal Sector and the Federal Budget Estimates
The Bureau of Economic Analysis (BEA) prepares estimates of
the Federal sector in the framework of the national income and
product accounts (NIPAs). Unlike the Federal budget, which is
a financial plan of the Government, the NIPA Federal estimates
are designed to facilitate macroeconomic analyses of the effects
of Federal Government activity on national and personal
income and on national saving.1
Unlike the Federal budget estimates, the NIPAs distinguish
current transactions from capital transactions. Current trans
actions for production, for income, and for consumption are
presented in the summary NIPA accounts 1-5, and capital
transactions for the acquisition and disposal of nonfinancial
assets are presented in summary NIPA accounts 6 and 7.2
Because of this organization, the following types of transac
tions are not included in NIPA Federal Government current
receipts and current expenditures but are shown in account 6
and as addenda items in NIPA table 3.2:
• Government investment in fixed assets. In the NIPAs, gov
ernment consumption expenditures exclude investment in
fixed assets and include consumption of fixed capital, a
depreciation charge on fixed assets that are used in produc
tion.
• Transfers involving the acquisition or disposal of assets. In
the NIPAs, these transactions are classified as capital transfer
receipts and payments and are presented in the domestic
capital account.3 Capital transfers include certain investment
grants-in-aid to state and local governments, investment
subsidies to businesses, lump-sum payments to amortize the
unfunded liability of the Uniformed Services Retiree Health
Care Fund, and estate and gift taxes.
• Transactions involving nonproduced assets. In the NIPAs,
purchases and sales of nonproduced assets, such as land and
the radio spectrum, are reflected in “capital account transac
tions (net)” in the domestic capital account.
The NIPA estimates also differ from the budget estimates
because of the scope and coverage of the Federal Government
sector. Examples include the following:
• Retirement plans. Government employee contributions to
retirement plans are included in budget receipts, but they are
1. For a comparison, see tables 4 and 5 and NIPA table 3.18B. See also
“National Income and Product Accounts” in Analytical Perspectives: Budget of
the U.S. Government, 203-208.
2. Current transactions are presented in the “Domestic Income and Product
Account,” “Private Enterprise Income Account,” “Personal Income and Outlay
Account,” “Government Receipts and Expenditures Account,” and “Foreign
Transactions Current Account.” Capital transactions are presented in the
“Domestic Capital Account” and the “Foreign Transactions Capital Account.”
See “Summary National Income and Product Accounts,” S u r v e y o f C u r r e n t
B u sin e ss 86 (August 2006): 38-39. The Federal Government components of the
domestic capital account are often shown as addenda in tables presenting Fed
eral Government current receipts and expenditures.
3. The flow of funds accounts of the Federal Reserve Board present detailed
information on the acquisition and disposal of financial assets and liabilities by
U.S. economic sectors, including the Federal Government.
excluded from NIPA current receipts because they are
included in personal income as part of the income of
employees. Similarly, Federal employee retirement benefits
are included in budget outlays, but they are excluded from
NIPA current expenditures because the benefits are paid
from assets that represent equity belonging to the personal
sector.
• Other differences. The NIPA Federal Government sector
excludes certain transactions with the residents of Puerto
Rico and the U.S. Territories and with the Federal Commu
nication Commission Universal Service Fund.
Receipts
NIPA Federal Government current receipts differ from Federal
budget receipts because of differences in coverage, netting and
grossing, and timing.4 For most years, the differences between
NIPA current receipts and budget receipts primarily reflect
capital transfers received, supplementary medical insurance
premiums, and personal and business current transfer receipts.
(Personal and business current transfer receipts are classified as
receipts in the NIPAs, but some are netted against outlays in
the budget.)
Expenditures
NIPA Federal Government current expenditures differ from
Federal budget outlays because of differences in coverage, net
ting and grossing, and timing. For most years, the differences
between the two measures primarily reflect capital transfers
paid, Federal employee retirement plan transactions, personal
and business current transfer receipts, and net investment.
In the NIPAs, budget outlays for national defense and non
defense are reflected in both consumption expenditures and
gross investment. For national defense, the budget outlays dif
fer from the NIPA estimates for several reasons:
• The NIPA measure includes general government consump
tion of fixed capital.
• In the NIPAs, cash payments to amortize the unfunded lia
bility for military and civilian retirement benefits are
included as defense consumption expenditures; the budget
records these payments as intergovernmental transactions.
• NIPA expenditures are recorded on a delivery (accrual)
basis, and budget outlays are recorded on a cash basis; thus,
in the NIPAs, all work in progress except ships and struc
tures are included as part of change in private inventories.
4. The differences in coverage arise because certain transactions that are
excluded from the NIPAs are included in the budget (and vice versa). The dif
ferences in netting and grossing arise because certain transactions are recorded
as offsets to outlays in the budget, but they are recorded as receipts in the
NIPAs (and vice versa). The differences in timing arise because in the budget,
most receipts and outlays are recorded on a cash basis, and in the NIPAs, some
transactions are recorded on an accrual basis.
12
Federal Budget Estimates
Federal budget outlays in fiscal year 2008 are pro
jected to increase $117.6 billion, to $2,901.9 billion (ta
ble 2). Federal budget outlays in fiscal year 2007 are
estimated to be $2,784.3 billion, a $128.8 billion in
crease. The deceleration is accounted for by decelera
tions in outlays for the following functions: Medicare,
national defense, social security, international affairs,
health, and administration o f justice. Downturns in
outlays for natural resources and the environment and
energy also contributed to the deceleration. The decel
eration in budget outlays is moderated by smaller
decreases in outlays for the following functions: C om
munity and regional development; education, train
ing, employment, and social services; agriculture; and
commerce and housing credit. Outlays for net interest,
veterans benefits and services, and income security
would accelerate, and “undistributed offsetting re
ceipts” would decrease less.
For Medicare, budget outlays would increase $19.4
billion in 2008 after increasing $42.4 billion in 2007.
For national defense, budget outlays would increase
$34.7 billion after increasing $50.0 billion. For social
security, budget outlays would increase $26.0 billion
after increasing $38.0 billion. For international affairs,
budget outlays would increase $1.1 billion after in
creasing $5.5 billion. For natural resources and the en
vironment, budget outlays would decrease $2.3 billion
after increasing $2.1 billion.
For com m unity and regional development, budget
outlays would decrease $8.0 billion in 2008 after deTable 2. Budget Outlays by Function
[B i llio n s o f d o l l a r s ]
L ev e l fo r fis c a l y e a r
2005
Budget o u tla ys ...............................
2006
2007
C h a n g e fro m p r e c e d in g y e a r
2008
2,472.2 2,655.4 2,784.3 2,901.9
2006
2007
2008
183.2
128.8
117.6
N a t i o n a l d e f e n s e ........................................
4 9 5 .3
5 2 1 .8
5 7 1 .9
6 0 6 .5
2 6 .5
5 0 .0
3 4 .7
I n t e r n a t i o n a l a f f a i r s ....................................
3 4 .6
2 9 .5
3 5 .1
3 6 .1
- 5 .0
5 .5
1.1
t e c h n o l o g y ...................................................
2 3 .6
2 3 .6
2 4 .9
2 6 .6
E n e r g y ...................................................................
0 .4
G e n e ra l s c ie n c e , s p a c e , a n d
0.8
1.8
1.2
1.1
0.0
1 .4
0 .4
1.8
-0 .4
N a tu ra l r e s o u r c e s a n d
e n v i r o n m e n t ...............................................
2 8 .0
3 3 .1
3 5 .2
3 2 .9
A g r i c u l t u r e .........................................................
2 6 .6
2 6 .0
20.1
0.2
1 9 .9
-
7 0 .2
7 4 .6
7 9 .3
2 .3
C o m m e r c e a n d h o u s i n g c r e d i t ....
7 .6
T r a n s p o r t a t i o n ...............................................
6 7 .9
6.2
2.0
2.1
5 .0
-
0.6
-1 .4
-2 .3
-5 .9
-
-
6.0
0.2
-2 .3
4 .4
4 .7
C o m m u n ity a n d r e g io n a l
d e v e l o p m e n t .............................................
2 6 .3
5 4 .5
3 2 .6
2 4 .7
2 8 .3
- 2 1 .9
a n d s o c i a l s e r v i c e s .............................
9 7 .6
1 1 8 .6
9 4 .0
8 2 .7
- 2 4 .6
H e a l t h .....................................................................
2 5 0 .6
2 5 2 .8
2 6 8 .5
2 8 0 .6
21.0
2.2
M e d i c a r e .............................................................
2 9 8 .6
3 2 9 .9
3 7 2 .3
3 9 1 .6
3 1 .2
-
8.0
E d u c a tio n , tra in in g , e m p lo y m e n t,
6.6
I n c o m e s e c u r i t y ............................................
3 4 5 .8
3 5 2 .5
3 6 5 .4
3 8 0 .8
S o c i a l s e c u r i t y ...............................................
5 2 3 .3
5 4 8 .5
5 8 6 .5
6 1 2 .5
2 5 .2
V e t e r a n s b e n e f i t s a n d s e r v i c e s ...
7 0 .2
6 9 .8
7 2 .4
8 3 .4
- 0 .3
A d m i n i s t r a t i o n o f j u s t i c e ......................
4 0 .0
4 1 .0
4 5 .3
4 7 .0
G e n e r a l g o v e r n m e n t ................................
1 7 .0
1 8 .2
1 8 .8
2 0 .7
N e t i n t e r e s t ........................................................
1 8 4 .0
2 2 6 .6
2 3 9 .2
2 6 1 .3
7 .4
2.1
- 6 5 .2
- 6 8 .3
- 8 1 .8
- 8 6 .3
A l l o w a n c e s 1.....................................................
U n d is tr ib u te d o f fs e ttin g r e c e i p t s 2
1.0
1.2
4 2 .6
-
1 5 .8
4 2 .4
11.2
12.1
1 9 .4
1 2 .9
1 5 .4
3 8 .0
2 6 .0
2.6
11.0
4 .3
1 .7
0 .5
2.0
22.1
12.6
- 1 3 .6
2 . U n d i s t r i b u t e d o f f s e t t i n g r e c e i p t s a r e tw o c a t e g o r i e s o f c o l l e c t i o n s t h a t a r e g o v e r n m e n t a l in n a t u r e a n d t h a t
a r e n o t c r e d i t e d t o e x p e n d i t u r e a c c o u n t s : R e c e i p t s f r o m p e r f o r m i n g b u s i n e s s - l i k e a c tiv i tie s , s u c h a s p r o c e e d s
fro m s e llin g F e d e ra l a s s e t s o r le a s e s ; a n d s h if ts fro m o n e a c c o u n t to a n o th e r , s u c h a s a g e n c y p a y m e n ts to r e tire
BudgetoftheUnitedStatesGovernment, Fiscal Year2008.
Proposed legislative and program changes
The budget for fiscal year 2008 proposes changes in
legislation and in program s that would increase the
Federal deficit $58.9 billion in fiscal year 2007 and
$201.2 billion in fiscal year 2008 (table 3).4
Receipts. If proposed legislation is enacted, receipts
would decrease $9.6 billion in fiscal year 2007 and
$51.5 billion in fiscal year 2008, relative to the currentservices baseline.
• A proposal to extend the am ount o f the alternative
m inim um tax (AM T) exemption and the use o f
nonrefundable personal tax credits to offset both
the regular tax and the AM T would reduce receipts
$9.1 billion in fiscal year 2007 and $47.9 billion in
fiscal year 2008.
• A proposal to permanently extend the 20-percent
tax credit for qualified research and experimenta
tion expenses that are above specified am ounts
would reduce receipts $3.2 billion in 2008.
• A proposal to provide enhanced expense-related tax
benefits for small businesses would reduce receipts
$1.6 billion in 2008.
• A proposal to repeal the excise tax for local tele
phone service would reduce receipts $0.6 billion in
2007 and $0.5 billion in 2008. (See the box “New
Transactions in the NIPA Federal Sector” on page
2 0 .)
• A proposal to extend the unemployment insurance
surtax that requires employers to continue to pay at
a 0.8-percent tax rate for 5 more years before drop
ping back to a 0.6-percent rate would increase
receipts $1.1 billion in 2008.
- 4 .4
i n c r e a s e o r d e c r e a s e o u t l a y s , r e c e i p t s , o r b u d g e t a u t h o r i t y b u t t h a t a r e n o t r e f l e c t e d in t h e p r o g r a m d e t a i l s .
S o u rc e:
creasing $21.9 billion in 2007. For education, training,
employment, and social services, budget outlays would
decrease $11.2 billion after decreasing $24.6 billion.
For agriculture, budget outlays would decrease $0.2
billion after decreasing $5.9 billion. For commerce and
housing credit, budget outlays would decrease $2.3 bil
lion after decreasing $6.0 billion.
For net interest, budget outlays would increase
$22.1 billion after increasing $12.6 billion. “Undistrib
uted offsetting receipts” (negative outlays) would in
crease $4.4 billion after increasing $13.6 billion. For
veterans benefits and services, budget outlays would
increase $11.0 billion after increasing $2.6 billion. For
income security, budget outlays would increase $15.4
billion after increasing $12.9 b illion.
-5 .4
- 3 .0
1 , A l l o w a n c e s a r e i n c l u d e d in b u d g e t t o t a l s t o c o v e r c e r t a i n b u d g e t a r y t r a n s a c t i o n s t h a t a r e e x p e c t e d to
m e n t fu n d s.
March 2007
4. The estimates of the proposed changes are the differences between the
current-services estimates and the actual budget. The current-services esti
mates in the 2008 budget reflect certain proposed adjustments to the
requirements for estimating the current-services baseline under the Budget
Enforcement Act.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
• A proposal to expand tax-free savings by replacing
Individual Retirement Accounts (IRAs) with Life
time Savings Accounts (LSAs) and Retirement Sav
ings Accounts (RSAs) would increase receipts $1.5
billion in 2008.5
Receipts proposals that are included in the currentservices baseline would increase receipts $0.2 billion in
fiscal year 2007 and would decrease receipts $0.7 bil
lion in fiscal year 2008(table 3).
5. Under this proposal, individuals, regardless of age or income, could
make annual nondeductible contributions to each of these accounts. For
tax purposes, LSA distributions would be excluded from income, and RSA
distributions would be excluded from income after the account holder is
age 58 or in the event of disability or death.
Table 3. Proposed Legislative and Program Changes in the Budget
[B illio n s o f d o lla r s ]
F isc a l y e a r
2007
2008
Receipts
C u r r e n t - s e r v i c e s e s t i m a t e s ' .........................................................................................................................
Plus:
P r o p o s e d l e g i s l a t i o n e x c l u d i n g p r o p o s a l s a s s u m e d in t h e b a s e l i n e :
2 ,5 4 9 .7
2 ,7 1 4 .0
-9 .6
- 5 1 .5
- 9 .1
- 4 7 .9
E x t e n d a l t e r n a t i v e m i n i m u m t a x r e l i e f f o r i n d i v i d u a l s ...............................................
E x t e n d r e s e a r c h a n d e x p e r i m e n t a t i o n t a x c r e d i t ...........................................................
0.0
0.0
- 0.6
0.0
0.0
0.1
I n c r e a s e e x p e n s i n g f o r s m a l l b u s i n e s s ..................................................................................
R e p e a l e x c i s e t a x o n l o c a l t e l e p h o n e s e r v i c e ..................................................................
I m p r o v e u n e m p l o y m e n t i n s u r a n c e ..............................................................................................
E x p a n d t a x - f r e e s a v i n g s o p p o r t u n i t i e s ....................................................................................
O t h e r .........................................................................................................................................................................
Equals:
T h e b u d g e t..
- 3 .2
-
1.6
- 0 .5
1.1
1 .5
-0 .9
2 ,5 4 0 .1
2 ,6 6 2 .5
2 ,7 3 5 .0
2 ,7 5 2 .1
4 9 .3
1 4 9 .7
3 6 .8
1 3 7 .2
Outlays
C u r r e n t - s e r v i c e s e s t i m a t e s 1 ..................................................................................................................
Plus:
P r o g r a m c h a n g e s e x c l u d i n g p r o p o s a l s a s s u m e d in t h e b a s e l i n e
2
N a t i o n a l d e f e n s e .....................................................................................................................................
N e t I n t e r e s t ............................................
1 .5
7 .7
I n t e r n a t i o n a l a f f a i r s ........................
2 .3
4 .1
V e te r a n s b e n e f its a n d s e r v ic e s
0.0
0.0
3 .9
A d m i n i s t r a t i o n o f j u s t i c e ............
A l l o w a n c e s 3................................................................................................................................................
7 .4
T r a n s p o r t a t i o n ...........................................................................................................................................
0.0
2.1
1.1
G e n e r a l s c i e n c e , s p a c e , a n d t e c h n o l o g y ..................................
0.0
1.2
0.0
0.0
0.0
0.0
C o m m u n i t y a n d r e g i o n a l d e v e l o p m e n t ........................................
I n c o m e s e c u r i t y ...................................................................................................
A g r i c u l t u r e ...............................................
C o m m e r c e a n d h o u s in g c re d it
E n e r g y .........................................................
N a t u r a l r e s o u r c e s a n d e n v i r o n m e n t ...............................................
U n d i s t r i b u t e d o f f s e t t i n g r e c e i p t s 4 ....................................................
-
E d u c a tio n , tra in in g , e m p lo y m e n t, a n d s o c ia l s e r v i c e s .
H e a l t h ............................................................................................................................
M e d i c a r e ....................................................................................................................
O t h e r ..............................................................................................................................
2 .3
1.0
0 .9
0 .4
0.1
0.1
0.0
0.0
0.0
0.1
E q u a l s : T h e b u d g e t ....................................................................................................................................................................
2 ,7 8 4 .3
C u r r e n t - s e r v i c e s s u r p l u s o r d e f i c i t ( - ) ......................................................................................................................
- 1 8 5 .3
P r o p o s e d c h a n g e s , r e c e i p t s l e s s o u t l a y s .............................................................................................................
-5 8 .9
A d m i n i s t r a t i o n b u d g e t s u r p l u s o r d e f i c i t ( - ) ........................................................................................................
- 2 4 4 .2
-
0.1
0.1
0.1
-
0.2
-
- 0 .5
-
1.1
1.1
- 4 .0
^ .0
2 ,9 0 1 .9
-3 8 .2
-
201.2
- 2 3 9 .4
Addenda:
0.2
0.2
N e t e ffe c t o f a d ju s tm e n ts to th e B u d g e t E n f o rc e m e n t A c t c u rr e n t- s e r v ic e s b a s e lin e
E f f e c t o n r e c e i p t s o f p r o p o s a l s a s s u m e d in t h e b a s e l i n e ................................................................
4 3 .0
- 0 .7
M a k e p e r m a n e n t c e r t a i n p r o v i s i o n s o f t h e t a x c u t s e n a c t e d in 2 0 0 1 a n d 2 0 0 3 :
R e p e a l o f e s t a t e a n d g e n e r a t i o n - s k i p p i n g t r a n s f e r t a x e s ...................................................
E x t e n d d i v i d e n d s t a x r a t e s t r u c t u r e ..........................................................................................................
A d j u s t m e n t s t o t h e b a s e l i n e f o r o u t l a y s ............................................................................................................
-
0.2
A d j u s t m e n t f o r r e d e f i n i t i o n o f e m e r g e n c i e s ............................................................................................
1.
0 .7
- 4 3 .7
- 4 0 .3
-
A d j u s t m e n t f o r c o s t o f p a y r a i s e s ......................................................................................................................
O t h e r a d j u s t m e n t s ............................................................................................................................................................
-1 .4
0 .3
0.0
0.0
-
T h e s e c u r r e n t - s e r v i c e s e s tim a te s r e fle c t p r o p o s e d a d ju s tm e n ts to th e B u d g e t E n f o rc e m e n t A ct c u rr e n t-
2 . C o n s i s t e n t w ith t h e b u d g e t , t h e p r o p o s e d le g i s l a t i o n e x c l u d e s b u d g e t r e f o r m p r o p o s a l s t h a t a r e in c l u d e d in
th e b a s e lin e .
3 . A l l o w a n c e s a r e i n c l u d e d in b u d g e t t o t a l s t o c o v e r c e r t a i n b u d g e t a r y t r a n s a c t i o n s t h a t a r e e x p e c t e d to
i n c r e a s e o r d e c r e a s e o u t l a y s , r e c e i p t s o r b u d g e t a u t h o r i t y b u t a r e n o t r e f l e c t e d in t h e p r o g r a m d e t a i l s .
4 . U n d i s t r i b u t e d o f f s e t t i n g r e c e i p t s a r e tw o c a t e g o r i e s o f c o l l e c t i o n s t h a t a r e g o v e r n m e n t a l in n a t u r e a n d t h a t
a r e n o t c r e d i t e d t o e x p e n d i t u r e a c c o u n t s : R e c e i p t s f r o m p e r f o r m i n g b u s i n e s s - l i k e a c ti v i t i e s , s u c h a s p r o c e e d s
f r o m s e llin g F e d e r a l a s s e t s o r l e a s e s ; a n d s h i f t s f r o m o n e a c c o u n t t o a n o t h e r , s u c h a s a g e n c y p a y m e n t s t o r e t i r e
S o u rc e:
BudgetoftheUnitedStatesGovernment, Fiscal Year2008.
• A proposal to permanently extend the repeal of
estate taxes and generation-skipping transfer taxes
would reduce receipts $0.2 billion in 2007 and $1.4
billion in 2008.
• A proposal to permanently extend the reduced tax
rate on dividends would increase receipts $0.3 bil
lion in 2007 and $0.7 billion in 2008.6
Outlays. The budget for fiscal year 2008 would in
crease total outlays $49.3 billion in fiscal year 2007 and
$149.7 billion in 2008, relative to the current-services
baseline.7 The increase in outlays in 2008 is accounted
for by the following items:
• Outlays for national defense would increase $137.2
billion, reflecting a $48.3 billion increase in antici
pated supplemental funding for the global war on
terror. Proposed changes in discretionary spending
on military operations and maintenance, on mili
tary personnel, and on procurement would also
contribute to the increase in national defense out
lays.
• Outlays for net interest would increase $7.7 billion
as a result o f the increasing cost o f financing the def
icit.
• Outlays for international affairs would increase $4.1
billion, reflecting an increase in outlays for AIDS
relief and an increase in outlays for reconstruction
and economic support in Iraq and Afghanistan.
• Outlays for veterans benefits and services would
increase $3.9 billion, reflecting the increasing health
care costs associated with the global war on terror
and the aging veterans population.
The increase in outlays is partly offset by proposed
decreases in outlays for Medicare, for education, train
ing, employment, and social services, for health care,
and for several other functions.
The adjustments to the baseline requirements o f the
Budget Enforcement Act would reduce current-services-baseline outlays $43.7 billion in fiscal year 2008
(table 3).
• Outlays for national defense, for international aid,
and for disaster assistance would decrease $40.3 bil
lion in order to exclude emergency funding from
the baseline for years after the year o f enactment.
• Outlays would decrease $2.1 billion in order to cor
rect the overstatement o f the cost related to Federal
pay raises in the baseline.8
2.1
1.2
s e r v i c e s b a s e l i n e . F o r in f o r m a ti o n o n t h e s e a d j u s t m e n t s , s e e “B u d g e t R e f o r m P r o p o s a l s " in t h e A n a l y tic a l
m e n t fu n d s.
13
6. The rate would be 15 percent for taxpayers in individual tax brackets
that are above 15 percent and 5 percent for lower income taxpayers through
2007; the rate for lower income taxpayers would fall to zero in 2008.
7. Outlays for homeland security are spread throughout selected budget
functions, including national defense, health, transportation, and the
administration of justice.
8. As required by the Budget Enforcement Act, the baseline uses October
as the effective date for Federal pay raises; the current-services estimates are
based on the assumption that Federal pay raises are effective in January.
14
Federal Budget Estimates
T h e B ud get E stim ates and
th e NIPA E stim ates
March 2007
ments for capital transfers received, which consists o f
estate and gift taxes, would subtract $25.5 billion.
The Bureau o f Economic Analysis (BEA) adjusts the
Federal budget’s estimates o f receipts and outlays in or
der to prepare estimates o f Federal Government cur
rent receipts and current expenditures that are
consistent with NIPA concepts and methods.
Receipts
For fiscal year 2008, NIPA current receipts would ex
ceed budget receipts by $104.9 billion as a result o f net
ting and grossing, coverage, and timing adjustments
(table 4).9 Netting and grossing adjustments would
add $133.7 billion to the budget estimates. “Other”
netting and grossing adjustments— which include
adjustm ents for Federal Government payments to
the Old-Age, Survivors, and Disability Trust
Funds— would add $64.7 billion, and adjustments for
payments for supplementary medical insurance prem i
um s would add $60.4 billion. Timing adjustments
would add $14.4 billion, which is accounted for by
timing on taxes on corporate income. Coverage adjust
ments would subtract $43.3 billion. Coverage adjust-
Expenditures and outlays
For fiscal year 2008, the NIPA estimate o f Federal Gov
ernment current expenditures would exceed the Fed
eral budget estimate o f outlays by $103.7 billion (table
5). Netting and grossing adjustments would add
$133.7 billion to the budget estimates, timing adjust
ments would add $0.7 billion, and coverage
adjustments would subtract $30.7 billion. Coverage
adjustments for capital transfers paid, which includes
capital grants to state and local governments and to
businesses, would subtract $55.8 billion, and adjust
ments for Federal employee retirement plan transac
tions would add $47.4 billion.
Table 5. Relation of NIPA Federal Government Current Expenditures
to Budget Outlays
[B i l l i o n s o f d o l l a r s ]
F isc a l y e a r
2006
Budget o u tla ys.............................................................................................
2,655.4
2,784.3
C o v e r a g e d i f f e r e n c e s ...............................................................................................................
Less:
9. Netting and grossing adjustments arise because certain transactions are
recorded as offsets to outlays in the budget, but they are recorded as receipts
in the NIPAs (and vice versa).
4 0 .6
1 5 .2
1 6 .4
1 6 .9
F e d e r a l e m p l o y e e r e t i r e m e n t p l a n t r a n s a c t i o n s 2...................................................
- 4 2 .4
-4 4 .4
- 4 7 .4
I n t e r e s t r e c e i v e d ..............................................................................................................................
- 5 4 .0
- 5 6 .4
- 6 0 .0
- 9 7 .4
- 1 0 3 .7
- 1 0 8 .8
B e n e f i t s p a i d ........................................................................................................................................
1 0 8 .7
1 1 5 .6
4 .................................................................................
N e t i n v e s t m e n t 5.....................................................................................................................................
C a p ita l tr a n s f e r s p a i d
0.2
6....................................................................................................................
1 6 .3
L o a n d i s b u r s e m e n t s l e s s l o a n r e p a y m e n t s a n d s a l e s ..............................
D e p o s i t i n s u r a n c e ...........................................................................................................................
N e t p u r c h a s e s o f f o r e i g n c u r r e n c y .................................................................................
O t h e r .................................................................................................................................................................
8 .5
5 3 .9
5 5 .8
9 .6
1 9 .7
2 5 .8
21.1
1.2
0.0
2 4 .9
2 8 .8
-1 2 .7
-
O t h e r 8................................................................................................................................................................
2008
- 2 3 .2
5 1 .2
L a n d a n d o t h e r 7.....................................................................................................................................
2007
-1 6 .9
121.2
0.2
1 7 .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 t s .................................................................................
O u t e r C o n t i n e n t a l S h e l f ...................................................................................................................
0.2
6.6
10.1
F i n a n c i a l t r a n s a c t i o n s ........................................................................................................................
F isc a l y e a r
3 0 .7
C o n t r i b u t i o n s r e c e i v e d ( e m p l o y e r ) .................................................................................
F i n a n c i n g d i s b u r s e m e n t s f r o m c r e d i t p r o g r a m s 3.................................................
2006
2,901.9
66.6
O t h e r d i f f e r e n c e s in f u n d s c o v e r e d
Table 4. Relation of NIPA Federal Government Current Receipts
to Budget Receipts
2008
G e o g r a p h i c 1...............................................................................................................................................
A d m i n i s t r a t i v e e x p e n s e s ..........................................................................................................
[B illio n s o f d o l l a r s ]
2007
0.0
0.1
0.1
0.0
8.0
7 .5
1.2
0.0
0 .7
0.0
- 5 .8
- 4 .2
-1 3 .7
- 1 3 .3
0.0
- 1 3 .7
1.1
12.2
0.0
-
0.0
N e t t i n g a n d g r o s s i n g d i f f e r e n c e s ..................................................................................................
-1 1 2 .7
- 1 2 1 .7
- 1 3 3 .7
S u p p l e m e n t a r y m e d i c a l i n s u r a n c e p r e m i u m s .........................................................
-4 8 .3
- 5 6 .0
- 6 0 .4
Budget receipts.............................................................................................
2,407.3
2,540.1
2,662.5
I n t e r e s t r e c e i p t s .......................................................................................................................................
-1 0 .7
-1 0 .3
-
C o v e r a g e d i f f e r e n c e s .................................................................................................................
4 4 .3
4 2 .2
4 3 .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 i s e s ................................................................
3 .6
G e o g r a p h i c 1.................................................................................................................................................
4 .6
4 .9
5 .1
O t h e r 9..............................................................................................................................................................
-5 7 .4
Less:
C o n trib u tio n s re c e iv e d b y F e d e ra l e m p lo y e e re tire m e n t p l a n s 2
C a p ita l tr a n s f e r s r e c e iv e d
3............................................................................................................
4 .4
4 .7
4 .7
2 7 .7
2 5 .0
2 5 .5
0.0
F i n a n c i a l t r a n s a c t i o n s .........................................................................................................................
0.0
0.0
8.0
O t h e r 4 ................................................................................................................................................................
7 .6
7 .5
N e t t i n g a n d g r o s s i n g d i f f e r e n c e s ...................................................................................................
- 1 1 2 .7
- 1 2 1 .7
- 1 3 3 .7
S u p p l e m e n t a r y m e d i c a l i n s u r a n c e p r e m i u m s ...........................................................
- 4 8 .3
- 5 6 .0
- 6 0 .4
I n c o m e r e c e i p t s o n a s s e t s .............................................................................................................
- 1 0 .7
- 1 0 .3
-
Plus:
T i m i n g d i f f e r e n c e s ....................................................................................................................
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 i s e s ..................................................................
3 .6
O t h e r 5 ................................................................................................................................................................
- 5 7 .4
Plus:
2.0
- 5 7 .4
10.2
1.6
- 6 4 .7
- 5 7 .4
- 1 4 .0
I n t e r e s t ............................................................................................................................................................
8 .9
0 .7
- 3 .3
0 .5
0 .5
5 .8
0 .3
1.2
3 .3
2,874.3
3,005.6
0 .5
-
0.8
O t h e r t i m i n g .................................................................................................................................................
-1 4 .8
Equals: NIPA Federal Government current expe nditure s...................
2,687.5
10.2
1.6
- 6 4 .7
3 .7
1.1
P u r c h a s e s ( i n c r e a s e in p a y a b l e s n e t o f a d v a n c e s ) ............................................
C u r r e n t t r a n s f e r p a y m e n t s ............................................................................................................
2.0
-
1 . C o n s i s t s l a r g e l y o f g o v e r n m e n t s o c i a l b e n e f i t s , s u b s i d i e s , a n d g r a n t s - i n - a i d t o r e s i d e n t s o f U .S . t e r r i t o r i e s
a n d P u e r t o R ic o .
T i m i n g d i f f e r e n c e s .........................................................................................................................
-
T a x e s o n c o r p o r a t e i n c o m e ...........................................................................................................
F e d e r a l a n d s t a t e u n e m p l o y m e n t i n s u r a n c e t a x e s ...............................................
W ith h e ld p e r s o n a l c u r r e n t ta x a n d s o c ia l s e c u r ity c o n trib u tio n s
E x c i s e t a x e s ................................................................................................................................................
O t h e r .....................................................................................................................................................................
E quals: NIPA Federal Government current receipts..............................
-
2.0
21.2
3 .0
4 .7
1 5 .9
3 . C o n s i s t s o f t r a n s a c t i o n s n o t i n c l u d e d in t h e b u d g e t t o t a l s t h a t r e c o r d a ll c a s h f lo w s f r o m p o s t - 1 9 9 1 d i r e c t
0.2
0.0
- 0 .5
l o a n o b l i g a t i o n s a n d lo a n g u a r a n t e e c o m m i t m e n t s . M a n y o f t h e s e f lo w s a r e f o r n e w l o a n s o r lo a n r e p a y m e n t s ;
- 4 .9
c o n s e q u e n t l y r e l a t e d e n t r i e s a r e i n c l u d e d in “L o a n d i s b u r s e m e n t s l e s s l o a n r e p a y m e n t s a n d s a l e s ."
- 5 .8
1 4 .4
5 .2
4 .0
1 4 .6
7 .1
- 3 .1
- 3 .2
- 3 .1
2,473.6
2,640.9
2,767.4
2 . T h e s e t r a n s a c t i o n s a r e i n c l u d e d in t h e N IP A p e r s o n a l s e c t o r .
4 . C o n s i s ts la rg e ly o f a g e n c i e s o r a c c o u n ts , s u c h a s th e P o s ta l S e r v ic e a n d th e F e d e ra l F in a n c in g B a n k , th a t
w e r e n o t in c l u d e d in t h e b u d g e t in s o m e p e r i o d s .
5 . N e t i n v e s t m e n t is g r o s s i n v e s t m e n t 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 f o r g e n e r a l g o v e r n m e n t a n d g o v e r n
m e n t e n te rp ris e s .
6. C o n s i s t s
o f in v e s tm e n t g r a n ts to s t a t e a n d lo c a l g o v e r n m e n ts a n d m a ritim e c o n s tr u c tio n s u b s id i e s . D o e s n o t
i n c l u d e t h e f o r g i v e n e s s o f d e b t s o w e d b y f o r e i g n g o v e r n m e n t s t o t h e U n ite d S t a t e s , w h ic h a r e e x c l u d e d f r o m b o t h
1 . P r im a r ily c o n s i s t s o f c o n t r i b u t i o n s f o r s o c i a l i n s u r a n c e b y r e s i d e n t s o f U .S . t e r r i t o r i e s a n d P u e r t o R ic o .
2 . T h e s e t r a n s a c t i o n s a r e in c l u d e d in t h e N IP A p e r s o n a l s e c t o r .
b u d g e t o u t l a y s a n d N IP A c u r r e n t e x p e n d i t u r e s .
7 . C o n s i s t s o f n e t s a l e s o f l a n d o t h e r t h a n t h e O u t e r C o n t i n e n t a l S h e l f a n d , b e g i n n i n g in 1 9 9 5 , t h e a u c t i o n o f
3 . C o n s i s t s o f e s t a t e a n d g if t t a x e s .
th e ra d io s p e c tr u m .
4 . P r im a r ily c o n s i s t s o f T r e a s u r y r e c e i p t s f r o m s a l e s o f f o r e i g n c u r r e n c i e s t o G o v e r n m e n t a g e n c i e s .
5 . I n c l u d e s p r o p r i e t a r y r e c e i p t s t h a t a r e n e t t e d a g a i n s t o u t l a y s in t h e b u d g e t a n d t h a t a r e c l a s s i f i e d a s r e c e i p t s
8.
C o n s i s t s l a r g e l y o f n e t e x p e n d i t u r e s o f f o r e ig n c u r r e n c i e s .
9 . I n c l u d e s p r o p r i e t a r y r e c e i p t s t h a t a r e n e t t e d a g a i n s t o u t l a y s in t h e b u d g e t a n d t h a t a r e c l a s s i f i e d a s r e c e i p t s
in t h e N IP A s a n d s o m e t r a n s a c t i o n s t h a t a r e n o t r e f l e c t e d in t h e b u d g e t b u t t h a t a r e a d d e d t o b o t h N IP A r e c e i p t s
in t h e N IP A s. A ls o i n c l u d e s s o m e t r a n s a c t i o n s t h a t a r e n o t r e f l e c t e d in t h e b u d g e t d a t a b u t t h a t a r e a d d e d t o b o t h
a n d e x p e n d itu re s .
r e c e i p t s a n d e x p e n d i t u r e s in t h e N IP A s.
S o u rc es:
BudgetoftheUnitedStatesGovernment, Fiscal Year2008
a n d t h e B u r e a u o f E c o n o m i c A n a l y s is .
S o u rc es:
BudgetoftheUnitedStatesGovernment, Fiscal Year2008
a n d th e B u r e a u of E c o n o m ic A n a ly s is .
March 2007
For fiscal year 2008, the NIPA estimate o f national
defense consumption expenditures would exceed the
budget estimate o f national defense outlays by $10.7
billion (table 6). The estimates differ mainly because of
the NIPA treatment o f retirement funds for military
and civilian employees and the addition o f consum p
tion o f fixed capital.
Table 6. Relation of NIPA National Defense Consumption
Expenditures and Gross Investment to National Defense Outlays
[B i llio n s o f d o l l a r s ]
F isc a l y e a r
2006
2007
521.8
571.9
606.5
4 9 9 .4
5 4 8 .9
5 8 3 .3
M i l ita r y p e r s o n n e l ........................................................................................................
1 2 7 .5
1 2 8 .8
1 3 5 .7
O p e r a t i o n a n d m a i n t e n a n c e .............................................................................
2 0 3 .8
2 2 4 .8
2 4 8 .6
P r o c u r e m e n t .....................................................................................................................
8 9 .8
1 0 4 .3
110.8
A i r c r a f t .............................................................................................................................
2 3 .2
2 7 .5
M i s s i l e s ............................................................................................................................
5 .7
S h i p s ...................................................................................................................................
1 0 .3
W e a p o n s .........................................................................................................................
5 .9
2.0
A m m u n i t i o n ..................................................................................................................
O t h e r 1...............................................................................................................................
celeration in Federal Government current expendi
tures than in Federal Government current receipts.
Receipts. Total NIPA Federal Government current
receipts would increase $126.4 billion after increasing
$167.3 billion (table 8 and chart 2). The deceleration
results from proposed legislation that would decrease
receipts $43.9 billion and from a deceleration in the tax
base that would increase receipts $163.8 billion. (The
estimates o f the tax base are based on the adm inistra
tion’s economic assumptions and do not include the
effects o f proposed legislation.)
In current tax receipts, personal current taxes would
decelerate, increasing $80.0 billion after increasing
2008
D e p a r t m e n t o f D e f e n s e , m i l i t a r y ..........................................................................
Budget outlays for national defense........................................
Chart 1. Federal Fiscal Position
Billions of dollars
JUU
2 7 .3
5 .8
5 .3
11.2
9 .8
7 .0
8 .4
2 .3
2 .5
4 2 .7
5 0 .6
5 7 .6
6 9 .6
R e s e a r c h , d e v e l o p m e n t , t e s t , a n d e v a l u a t i o n ..................................
68.6
7 1 .1
O t h e r .........................................................................................................................................
9 .6
20.0
1 8 .5
A t o m i c e n e r g y a n d o t h e r d e f e n s e - r e l a t e d a c t i v i t i e s .........................
2 2 .5
2 3 .0
2 3 .3
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f i x e d c a p i t a l ...................
7 0 .8
7 4 .2
7 7 .2
A d d itio n a l p a y m e n t s to m ilita ry a n d c iv ilia n r e t i r e m e n t f u n d s .
3 1 .1
3 5 .2
3 6 .5
T i m i n g d i f f e r e n c e ................................................................................................................
1 .4
Plus:
15
S u r v e y o f C u r r e n t B u s in e s s
1.6
200
/ / \ \
\ \
0
- 1 .9
-1 0 0
-2 0 0
— Budget, surplus or deficit (-)
y/ /
100
//
/
\
— NIPA, net saving \ \
\\
L e s s : G ra n ts - in - a id to s t a t e a n d lo c a l g o v e r n m e n t s a n d n e t
i n t e r e s t p a i d ..............................................................................................................................
3 .6
3 .6
3 .4
O t h e r d i f f e r e n c e s .......................................................................................................................
1 1 .9
1 3 .5
1 8 .6
665.8
696.4
Equals: NIPA National defense consumption expenditures
and gross investment..............................................................
Less:
2
Equals: NIPA National defense consumption expenditures
609.6
N a t i o n a l d e f e n s e g r o s s i n v e s t m e n t ......................................................
7 6 .9
532.8
8 6 .7
579.1
\
___
\
-3 0 0
7 9 .1
\
y
617.2
-4 0 0
1 . O t h e r m il ita r y o u t l a y s in c l u d e o u t l a y s f o r m il ita r y c o n s t r u c t i o n , f a m i ly h o u s i n g , a n d a n t i c i p a t e d
f u n d i n g f o r t h e g l o b a l w a r o n te r r o r .
2 . G r o s s i n v e s t m e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t e x p e n d i t u r e s f o r f ix e d a s s e t s ; i n v e n to r y in v e s t
m e n t is i n c l u d e d in F e d e r a l G o v e r n m e n t c o n s u m p t i o n e x p e n d i t u r e s .
S o u rc es:
BudgetoftheUnitedStatesGovernment, Fiscal Year2008
a n d th e B u r e a u o f E c o n o m ic
i
c;nn
1997 98
For fiscal year 2008, the NIPA estimate o f net Federal
Government saving is -$238.3 billion; the comparable
Federal budget estimate is -$239.4 billion (table 7).
The difference reflects coverage and timing adjust
ments. The coverage adjustments reduce both NIPA
current receipts and NIPA current expenditures; the
timing adjustments raise both NIPA current receipts
and NIPA current expenditures. Netting and grossing
adjustments affect NIPA current receipts and NIPA
current expenditures equally, so these adjustments do
not affect net Federal Government saving.
Annual and Q uarterly NIPA Estim ates
i
i
i
i
i
i
i
i
2000
01
02
03
04
05
06
07*
'Estimates by Office of Management and Budget and BEA
U.S. Bureau of Economic Analysis
Table 7. Budget Receipts and Outlays and
NIPA Federal Government Current Receipts and Expenditures
[B i llio n s o f d o l l a r s ]
L ev e l fo r fis c a l y e a r
C h a n g e fro m
p r e c e d i n g f is c a l
A c tu a l
2006
year
E s tim a te s
2007
2008
2007
2008
Budget:
R e c e i p t s .............................................................................................................
2 ,4 0 7 .3
2 ,5 4 0 .1
2 ,6 6 2 .5
1 3 2 .8
1 2 2 .4
O u t l a y s ................................................................................................................
2 ,6 5 5 .4
2 ,7 8 4 .3
2 ,9 0 1 .9
1 2 8 .9
1 1 7 .6
S u r p l u s o r d e f i c i t ( - ) ........................................................................
- 2 4 8 .2
- 2 4 4 .2
-2 3 9 .4
4 .0
4 .8
NIPAs:
C u r r e n t r e c e i p t s ..........................................................................................
2 ,4 7 3 .6
2 ,6 4 0 .9
2 ,7 6 7 .4
1 6 7 .3
1 2 6 .4
C u r r e n t e x p e n d i t u r e s .............................................................................
2 ,6 8 7 .5
2 ,8 7 4 .3
3 ,0 0 5 .6
1 8 6 .8
1 3 1 .3
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 ..........................................
- 2 1 3 .9
- 2 3 3 .4
- 2 3 8 .3
- 1 9 .5
- 4 .9
Fiscal year NIPA estimates
On a NIPA basis, net Federal Government saving
would decrease $4.9 billion in fiscal year 2008 after de
creasing $19.5 billion in fiscal year 2007 (table 7 and
chart 1). The smaller decrease results from a larger de
08*
Fiscal years
A n a l y s is .
Net saving and the budget deficit
i
99
D if fe re n c e s
B u d g e t r e c e i p t s l e s s N IP A c u r r e n t r e c e i p t s ....................
- 6 6 .3
100.8
- 1 0 4 .9
- 3 4 .5
- 4 .1
B u d g e t o u t l a y s l e s s N IP A c u r r e n t e x p e n d i t u r e s ..........
-3 2 .1
-9 0 .0
-1 0 3 .7
- 5 7 .9
-1 3 .7
- 3 4 .2
-
2 3 .5
9 .7
-
B u d g e t d e f i c i t l e s s N IP A 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 ......................................................................................................
Sources:
Budget of the United States, Fiscal Year 2008 and
10.8
-
1.1
the Bureau of Econo m ic Analysis.
Federal Budget Estimates
16
$122.9 billion, reflecting proposed legislation and a de
celeration in the tax base. Taxes on production and im
ports would turn up, increasing $5.6 billion after
decreasing $3.5 billion. Taxes on corporate income
would decrease $16.7 billion after decreasing $7.1 bil
lion, reflecting a decrease in the tax base. ContribuTable 8. Sources of Change in NIPA Federal Government Current
Receipts
[B illio n s o f d o lla r s ]
C h a n g e fro m
p r e c e d in g fis c a l y e a r
2006
2007
2008
T o t a l c u r r e n t r e c e i p t s .........................................................................................................
2 7 5 .0
1 6 7 .3
D u e t o t a x b a s e s .................................................................................................................
2 4 3 .5
1 7 6 .1
1 6 3 .8
-9 .3
- 4 3 .9
0.0
D u e t o p r o p o s e d l e g i s l a t i o n ......................................................................................
1 2 6 .4
C u r r e n t t a x r e c e i p t s ..........................................................................................................
2 0 3 .3
112.6
P e r s o n a l c u r r e n t t a x e s .............................................................................................
1 1 9 .6
1 2 2 .9
8 0 .0
D u e t o t a x b a s e s .....................................................................................................
1 1 9 .6
1 3 1 .8
1 1 9 .2
6 8 .9
0.0
- 8 .9
-3 9 .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 ..................................................................
6 .4
-3 .5
5 .6
D u e t o t a x b a s e s .....................................................................................................
6 .4
-
D u e t o p r o p o s e d l e g i s l a t i o n ........................................................................
0.0
- 0 .7
-0 .5
D u e t o p r o p o s e d l e g i s l a t i o n ........................................................................
2.8
6.1
T a x e s o n c o r p o r a t e i n c o m e ...............................................................................
7 7 .3
- 7 .1
- 1 6 .7
D u e t o t a x b a s e s .....................................................................................................
7 7 .3
- 7 .4
-1 2 .5
- 4 .2
D u e t o p r o p o s e d l e g i s l a t i o n ........................................................................
0.0
0 .3
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 .....................................................................
0.0
0 .3
4 0 .2
5 4 .5
5 1 .0
D u e t o t a x b a s e s .................................................................................................................
4 0 .2
5 4 .5
5 1 .0
0.0
0.0
1.1
I n c o m e r e c e i p t s o n a s s e t s ..............................................................................................
C u r r e n t t r a n s f e r r e c e i p t s ...................................................................................................
2 8 .6
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 i s e s ...................................................
1 .7
-
tions for government social insurance would increase
$51.0 billion after increasing $54.5 billion, reflecting a
deceleration in the tax base. Current transfer receipts
would turn up, increasing $4.9 billion after decreasing
$1.8 billion. The current surplus o f government enter
prises would increase $0.4 billion after increasing $1.7
billion.
Expenditures. Total NIPA Federal Government cur
rent expenditures would increase $131.3 billion in fis
cal year 2008 after increasing $186.8 billion in fiscal
year 2007 (table 9 and chart 3). The deceleration re
sults from a deceleration in consumption expendi
tures, which would increase $43.4 billion after
increasing $62.4 billion.
National defense consumption expenditures would
decelerate, increasing $38.2 billion after increasing
$46.3 billion. Nondefense consumption expenditures
would decelerate, increasing $5.2 billion after increas
ing $16.1 billion. Current transfer payments would de
celerate, increasing $63.3 billion after increasing
$112.0 billion.
0.0
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 i a l i n s u r a n c e ..........................................
D u e t o p r o p o s e d l e g i s l a t i o n ......................................................................................
March 2007
0.0
0.2
1.2
1.8
4 .9
1 .7
0 .4
Table 9. Sources of Change in
NIPA Federal Government Current Expenditures
[B illio n s o f d o lla r s ]
C h a n g e fro m p r e c e d in g fis c a l y e a r
S o u rc es:
2006
BudgetoftheUnitedStates Government, Fiscal Year2008
A n a l y s is .
Chart 2. Federal Government Current Receipts
2008
T o t a l c u r r e n t e x p e n d i t u r e s ............
1 7 1 .2
1 8 6 .8
1 3 1 .3
C o n s u m p t i o n e x p e n d i t u r e s .........
4 5 .3
6 2 .4
4 3 .4
N a t i o n a l d e f e n s e .............................
2 4 .0
4 6 .3
3 8 .2
0.0
4 .1
6 .4
O t h e r ......................................................
2 4 .0
4 2 .2
3 1 .8
N o n d e f e n s e ..........................................
2 1 .3
1 6 .1
5 .2
0.0
1 .7
2.8
P a y r a i s e a n d lo c a lity p a y
Billions of dollars
4 ,5 0 0
■ O th er receipts
□ C urrent transfer receipts
4 ,0 0 0
■ Incom e receipts on assets
□ Contributions for g o vernm en t social insurance
□ Taxes on corporate incom e
3 ,5 0 0
13 Taxes on production and im ports
□ Personal current taxes
P a y r a i s e a n d lo c a lity p a y
1
1
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 ........................................................................
G o v e r n m e n t s o c i a l b e n e f i t s t o p e r s o n s ................................
3 ,0 0 0
2 1 .3
1 4 .4
2 .4
86.8
112.0
6 3 .3
8 4 .9
9 3 .4
5 8 .4
S o c i a l s e c u r i t y .........................................................................................
3 0 .3
3 1 .7
2 5 .3
M e d i c a r e ........................................................................................................
4 0 .3
5 4 .9
2 3 .6
S u p p l e m e n t a l s e c u r i t y i n c o m e ...............................................
2 .3
2.8
1.6
E a r n e d i n c o m e a n d o t h e r t a x c r e d i t s ................................
2.6
0.2
0 .5
V e t e r a n s b e n e f i t s ...................................................................................
1.2
4 .6
2 .3
0 .7
2.2
U n e m p l o y m e n t b e n e f i t s ..................................................................
2 ,5 0 0
-
1 ,50 0
1,000
1 .7
6.8
G o v e r n m e n t s o c ia l b e n e f its to t h e r e s t o f t h e w o r l d .
0.1
99
2000
01
02
03
Fiscal years
•Estimates by Office of Management and Budget and BEA
U.S. Bureau of Economic Analysis
04
05
06
07*
08*
1 .5
1 .4
0.1
0.1
1 .9
1 2 .5
2 .3
0 .5
0.0
I n c o m e s u p p o r t , s o c i a l s e c u r i t y , a n d w e l f a r e ........................
- 2 .4
9 .3
6.6
M e d i c a l c a r e ...................................................................................................
- 4 .7
W e l f a r e a n d s o c i a l s e r v i c e s .............................................................
0 .9
O t h e r i n c o m e s u p p o r t ............................................................................
1 .4
E d u c a t i o n ..................................................................................................................
1 .7
H o u s i n g a n d c o m m u n i t y s e r v i c e s ....................................................
- 0 .3
C e n t r a l e x e c u t i v e , l e g i s l a t i v e , a n d j u d i c i a l a c t i v i t i e s .......
- 0 .9
6.8
0.0
0 .7
2.8
2 .5
1.0
3 .4
10.2
- 1 .5
-
2.0
-2 .9
0.2
0.1
0.2
-
0 .3
- 0 .5
0.0
O t h e r ..............................................................................................................................
0 .3
O th e r c u r r e n t tr a n s f e r p a y m e n ts to th e r e s t o f th e w o r l d .
- 0.1
6.0
1 .4
F e d e r a l i n t e r e s t p a i d ........................................................................................................
4 4 .4
1 9 .5
2 5 .7
-1.0
S u b s i d i e s .....................................
98
0 .3
- 1 .3
H e a l t h a n d h o s p i t a l s ......................................................................................
L a b o r t r a i n i n g a n d s e r v i c e s ...................................................................
0
-
0.1
F o o d S t a m p s .............................................................................................
O t h e r ..................................................................................................................
G r a n t s - i n - a i d t o s t a t e a n d l o c a l g o v e r n m e n t s .............................
2,000
1997
2007
a n d t h e B u r e a u o f E c o n o m ic
- 1 .3
3 .3
- 7 .1
A g ric u ltu re s u b s id i e s .
2 .5
-
H o u s i n g s u b s i d i e s .......
0 .3
O t h e r s u b s i d i e s ..............
0 .5
1 . C o n s i s t s o f p a y r a i s e s a n d lo c a li ty p a y b e g i n n i n g in J a n u a r y 2 0 0 7 a n d 2 0 0 8 .
S o u r c e : B u r e a u o f E c o n o m i c A n a l y s is .
-
6.8
- 1 .5
0 .7
0 .9
1.0
- 0 .4
March 2007
S u r v e y o f C u r r e n t B u s in e s s
Government social benefits to persons would in
crease $58.4 billion after increasing $93.4 billion; the
deceleration is mostly attributable to decelerations in
Medicare and social security. Grants-in-aid to state
and local governments would increase $3.4 billion af
ter increasing $12.5 billion; the deceleration is mostly
attributable to downturns in grants for welfare and so
cial services and for education.
“Other current transfer payments to the rest o f the
world” would decelerate, increasing $1.4 billion after
increasing $6.0 billion. Federal interest payments
would accelerate, increasing $25.7 billion after increas
ing $19.5 billion. Subsidies would decrease $1.0 billion
after decreasing $7.1 billion; the smaller decrease is at
tributable to agricultural subsidies.
Investment. Total Federal Government gross invest
ment would turn down, decreasing $4.9 billion after
increasing $10.8 billion (table 10). This downturn is
m ostly accounted for by a downturn in gross invest
ment for national defense.
Other items. Capital transfer receipts would turn
up and capital transfer payments would turn down.
Net borrowing would turn down, decreasing $4.5 bil
lion after increasing $24.2 billion.10
10. “Net lending or net borrowing
the financing requirement of the
government sector, is an alternative measure of the government fiscal posi
tion and is derived as net government saving plus the consumption of fixed
capital and “capital transfers received (net)” less gross investment and net
purchases of nonproduced assets.
Chart 3. Federal Government Current Expenditures
Billions of dollars
4 ,5 0 0
4 ,0 0 0
3 500
B
□
m
□
D
■
□
O th er current transfer paym ents to th e rest of the world
Subsidies
N ondefense consum ption expenditures
G rants-in-aid to state and local governm ents
Federal interest p a id ..................................................
N ational defense consum ption expenditures
G o vernm ent social benefits
3 ,0 0 0
2 ,5 0 0
2,000
1,50 0
1,000
0
1997
98
02
03
04
Fiscal years
'Estimates by Office of Management and Budget and BEA
U.S. Bureau of Economic Analysis
99
2000
01
05
06
07*
08*
17
Quarterly pattern
BEA prepares seasonally adjusted quarterly NIPA esti
mates o f Federal Government current receipts and cur
rent expenditures that are consistent with the Federal
budget (table 10).
The quarterly estimates presented here are extrapo
lated from the preliminary estimates for the fourth
quarter o f 2006, which were released on February 28,
2007. In general, because o f the limited information
available to estimate quarterly patterns, the estimates
should be viewed as approxim ations that will be super
seded by more reliable quarterly estimates that will be
published in NIPA table 3.2.11
Receipts. The NIPA estimates o f current receipts re
flect the quarterly pattern o f estimates that would re
sult from enacted and proposed legislation, based on
the administration’s projected pattern o f wages. The
NIPA estimates also reflect BEA’s m ethodology for de
riving quarterly estimates o f income tax payments and
o f “final settlements less refunds.” 12
Expenditures. The quarterly NIPA estimates o f Fed
eral Government current expenditures reflect the
quarterly pattern that would result from enacted and
proposed legislation that would adjust pay for Federal
Government employees and that would provide costof-living increases in social security and other pro
grams.
Net saving. Net Federal government saving de
creased from -$147.0 billion in the first quarter of
2006 to -$147.9 billion in the fourth quarter. In the
first three quarters o f 2007, net saving is projected to
decrease, reflecting a projected increase in current ex
penditures that would exceed the increase in current
receipts. The increase in current expenditures stems
from projected increases in government social benefits
and in defense and nondefense consum ption expendi
tures and from a step-up in current transfer payments
to the rest o f the world and in grants-in-aid to state
and local governments.
In the fourth quarter o f 2007, net saving is pro
jected to increase as a result o f a projected increase in
current receipts that would exceed the increase in cur
rent expenditures. National defense consum ption ex
penditures are projected to decelerate. Grants for
income support, social security, and welfare are pro
jected to turn down, and grants to the rest o f the world
are projected to show a larger decline.
In the first quarter o f 2008, net Federal Government
11. The average of the fiscal year quarters may not be equal to the fiscal
year value.
12. For details about the methodology, see Eugene R Seskin, “Annual
Revision of the National Income and Product Accounts,” S u r v ey o f C u r r en t
B u sin e ss 78 (August 1998): 29-31.
18
Federal Budget Estimates
saving is projected to decrease as a result o f an increase
in current expenditures that more than offsets an in
crease in current receipts. The projected increase in
current expenditures is attributable to increases in so
cial security as a result o f cost-of-living adjustments
March 2007
and upturns in current transfer payments to the rest o f
the world and in grants for income support, social se
curity, and welfare.
In the second and third quarters o f 2008, net saving
is projected to increase, reflecting increases in current
Table 10. NIPA Federal Government Current
[Billions of dollars; calendar years and
C a le n d a r y e a r
Q u a rte r
F isca l y e a r e s tim a te s 1
P u b lis h e d 2
E s tim a te d
P u b l is h e d 2 E s tim a te d
2006
Current receipts..
2006
2007
2008
2006
2007
2007
2008
I
II
III
IV
I
II
III
IV
I
II
III
2 ,8 1 2 .8
2 ,4 7 3 .6
2 ,6 4 0 .9
2 ,7 6 7 .4
2 ,5 3 4 .4
2 ,6 5 2 .2
2 ,4 9 0 .9
2 ,5 2 3 .2
2 ,5 5 7 .2
2 ,5 6 6 .5
2 ,6 0 4 .7
2 ,6 2 9 .8
2 ,6 6 4 .5
2 ,7 0 9 .7
2 ,7 3 5 .5
2 ,7 7 2 .9
C u r r e n t t a x r e c e i p t s ................................................................................
1 ,5 2 7 .2
1 ,6 3 9 .9
1 ,7 0 8 .9
1 ,5 5 8 .3
1 ,6 2 1 .2
1 ,5 2 4 .9
1 ,5 5 3 .2
1 ,5 7 9 .2
1 ,5 7 5 .9
1 ,5 9 4 .9
1 ,6 0 5 .3
1 ,6 2 7 .7
1 ,6 5 7 .0
1 ,6 6 1 .2
1 ,6 8 8 .3
P e r s o n a l c u r r e n t t a x e s ...................................................................
1 ,0 2 8 .6
1 ,1 5 1 .6
1 ,2 3 1 .6
1 ,0 5 9 .8
1 ,1 6 5 .6
1 ,0 3 9 .2
1 ,0 4 9 .9
1 ,0 6 4 .7
1 ,0 8 5 .5
1 ,1 2 8 .9
1 ,1 4 7 .8
1 ,1 7 6 .7
1 ,2 0 8 .8
1 ,2 0 5 .1
1 ,2 3 0 .3
1 ,2 5 5 .9
W ith h e l d in c o m e t a x e s ...........................................................
8 4 5 .3
9 3 2 .7
1 ,0 1 3 .6
8 6 2 .6
9 3 9 .0
8 5 4 .4
8 5 5 .8
8 6 3 .1
8 7 7 .0
9 0 3 .7
9 2 7 .6
9 4 9 .7
9 7 5 .1
9 8 5 .4
1 ,0 0 5 .1
1 ,0 2 6 .3
D e c l a r a t i o n s a n d fin a l s e t t l e m e n t s l e s s r e f u n d s .
1 8 3 .3
2 1 8 .9
2 1 8 .0
1 9 7 .3
2 2 6 .5
1 8 4 .7
1 9 4 .1
201.6
2 0 8 .5
2 2 5 .2
2 2 0 .3
2 2 7 .1
2 3 3 .6
2 1 9 .8
2 2 5 .2
2 2 9 .7
- 8 .9
- 4 8 .0
1 8 3 .3
2 2 7 .7
2 6 6 .0
1 9 7 .3
2 3 5 .4
1 8 4 .7
1 9 4 .1
201.6
2 0 8 .5
2 2 5 .2
1 0 6 .0
1 0 2 .5
1 0 8 .1
1 0 0 .9
101.1
0.0
101.1
1 0 3 .0
1 0 1 .3
9 8 .2
9 7 .9
1 0 3 .0
1 0 1 .3
9 8 .2
P r o p o s e d l e g i s l a t i o n ...........................................................
O t h e r ...............................................................................................
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 ..
T a x e s o n c o r p o r a t e i n c o m e 3....................
F e d e r a l R e s e r v e b a n k s ............................
O t h e r .................................................................
O th e r c o r p o r a t e p ro fit ta x a c c r u a ls .
T a x e s fro m th e r e s t o f th e w o r l d .
-
11.8
- 4 8 .0
-4 8 .0
-48 0
2 4 5 .5
2 6 7 .8
2 7 3 .2
2 7 7 .7
1 0 6 .4
9 9 .1
1 0 0 .3
1 0 5 .2
- 1 .3
101.6
- 1.8
1 0 3 .8
- 1 .3
- 0 .9
- 0 .9
- 0 .9
9 7 .9
1 0 0 .4
1 0 1 .7
1 0 3 .4
1 0 4 .7
1 0 6 .1
1 0 7 .3
1 0 0 .9
3 8 1 .6
3 7 4 .5
3 5 7 .8
3 8 6 .4
3 4 3 .7
3 7 4 .3
3 8 9 .4
4 0 1 .8
3 8 0 .1
3 5 5 .8
3 4 6 .2
3 3 8 .3
3 3 4 .3
3 4 0 .1
3 4 0 .5
3 4 2 .5
2 9 .9
3 2 .6
3 6 .1
2 7 .5
3 0 .7
2 5 .0
2 7 .3
2 9 .0
2 9 .0
2 9 .5
3 0 .1
3 0 .9
3 2 .3
3 3 .1
3 3 .7
3 4 .2
0.0
-
0.0
0.0
11.8
2 3 8 .9
1 0 9 .3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
00
0.0
00
00
2 9 .9
3 2 .6
3 6 .1
2 7 .5
3 0 .7
2 5 .0
2 7 .3
2 9 .0
2 9 .0
2 9 .5
3 0 .1
3 0 .9
3 2 .3
3 3 .1
3 3 .7
3 4 .2
3 5 1 .7
3 4 1 .9
3 2 1 .7
3 5 8 .8
3 1 3 .0
3 4 9 .3
3 6 2 .1
3 7 2 .8
3 5 1 .1
3 2 6 .4
3 1 6 .1
3 0 7 .5
3 0 2 .0
3 0 7 .0
3 0 6 .8
3 0 8 .3
0 .3
- 4 .0
3 5 1 .7
3 4 1 .7
3 2 5 .7
3 5 8 .8
3 1 2 .6
3 4 9 .3
3 6 2 .1
3 7 2 .8
3 5 1 .1
3 2 6 .4
P r o p o s e d l e g i s l a t i o n .............................
O t h e r .................................................................
9 9 .7
-
1 0 3 .2
P r o p o s e d l e g i s l a t i o n .............................
0.0
11.8
2 3 2 .1
1 0 6 .0
-
1.1
-
1.1
100.8
-0 .7
P r o p o s e d l e g i s l a t i o n .........................
O t h e r .............................................................
0.0
- 8 .9
1 ,7 1 7 .1
11.0
0.0
0 .4
11.2
12.2
12.2
12.2
0 5
0 5
0 5
-5 4
-5 4
-5 4
3 1 5 .6
3 0 7 .0
3 0 1 .5
3 1 2 .4
3 1 2 .2
3 1 3 .7
12.2
1 1 .3
1 1 .3
1 0 .4
1 0 .9
1 1 .3
C o n t r i b u t i o n s f o r s o c i a l i n s u r a n c e .................................................
8 9 0 .1
9 4 4 .6
9 9 5 .6
9 1 9 .7
9 7 4 .5
9 1 1 .9
9 1 4 .1
9 2 0 .5
9 3 2 .4
9 5 5 .8
9 6 8 .1
O ld a g e , s u r v i v o r s , d is a b ility , a n d h o s p i t a l i n s u r a n c e
7 9 3 .2
8 3 8 .1
8 8 5 .1
8 1 6 .4
8 6 2 .1
8 0 9 .3
8 1 0 .9
8 1 7 .1
8 2 8 .3
8 4 4 .0
T a x o n w a g e s a n d s a l a r i e s (F I C A , g r o s s ) ...................
7 4 7 .0
7 8 9 .7
8 3 4 .2
7 6 9 .3
8 1 2 .8
7 6 3 .9
7 6 4 .4
7 6 9 .5
7 7 9 .6
7 9 5 .0
12.2
12.2
12.2
12.2
1, 012.2
1, 020.8
12.2
9 8 0 .7
9 9 3 .4
8 5 5 .9
868.1
8 8 0 .3
8 9 6 .0
9 0 4 .9
9 1 4 .0
8 0 6 .6
8 1 8 .7
8 3 0 .8
8 4 5 .7
8 5 4 .1
8 6 2 .7
1 ,0 2 9 .6
P r o p o s e d l e g i s l a t i o n ..............................................................
0.0
0.0
0.0
0.0
0.0
0.0
00
0.0
00
B a s e i n c r e a s e s ...........................................................................
0 .9
5 .3
3 .8
3 .8
3 .8
3 8
3 8
9 .8
9 8
9 8
J a n u a r Y 2 0 0 7 ........................................................................
0 .9
3 .8
3 .8
3 .8
3 .8
3 .8
3 8
3 .8
3 8
3 8
6.0
6 0
6 0
8 4 4 .3
8 5 2 .9
J a n u a r Y 2 0 0 8 ........................................................................
O t h e r ..................................................................................................
F I C A R e f u n d s ....................................................................................
1 .5
7 4 7 .0
-
V o lu n ta r y h o s p i t a l i n s u r a n c e ..................................................
T a x o n s e l f - e m p l o y m e n t e a r n i n g s ( S E C A ) .................
B a s e i n c r e a s e s ...........................................................................
2.2
2.6
7 8 8 .7
-
2.2
2.8
8 2 8 .9
- 2 .4
7 6 9 .3
-
2 .9
2.1
2.6
8 0 9 .0
-
2.1
2.8
7 6 3 .9
-
2.1
2.6
7 6 4 .4
-
2.1
2.6
7 6 9 .5
-
2.1
7 7 9 .6
-
2 .7
4 5 .8
4 7 .9
5 0 .4
4 6 .5
4 8 .6
4 4 .9
4 5 .9
4 7 .0
0 .3
0 .5
0 .9
0 .3
0 .5
0 .3
0 .3
0 .3
2.1
7 9 1 .2
-
2.1
8 0 2 .9
-
2.1
2.8
8 1 4 .9
-
2.1
2.8
8 2 7 .0
-
2.1
2.8
2 .7
2 .7
4 8 .0
4 8 .4
4 8 .5
4 8 .7
4 8 .8
0 .3
0 .5
0 .5
0 .5
0 .5
8 3 5 .9
-
2.2
2.8
-
2.2
00
-
2.2
2 .9
2 .9
4 9 .7
5 0 .2
5 0 .7
0 .9
0 .9
0 .9
O t h e r ..................................................................................................
4 5 .5
4 7 .4
4 9 .6
4 6 .1
4 8 .1
4 4 .6
4 5 .6
4 6 .6
4 7 .7
4 7 .9
4 8 .0
4 8 .2
4 8 .3
4 8 .8
S u p p l e m e n t a r y m e d i c a l i n s u r a n c e ...................................
U n e m p l o y m e n t i n s u r a n c e ...............................................................
4 2 .2
4 9 .6
5 3 .9
4 4 .2
5 1 .6
4 3 .3
4 4 .2
4 4 .4
4 4 .8
5 1 .2
5 1 .5
5 1 .8
5 2 .1
5 4 .3
4 9 .3
5 4 .7
5 5 .1
4 3 .6
4 5 .4
4 5 .1
4 7 .3
4 8 .8
4 7 .6
4 7 .2
4 7 .0
4 7 .2
4 8 .5
4 8 .7
4 8 .9
4 9 .0
4 9 .9
4 9 .1
4 8 .4
O t h e r ...............................................................................................................
11.1
1 1 .5
11.6
1 1 .9
12.1
11.6
11.8
12.0
12.2
12.1
12.1
12.0
12.0
12.0
12.1
12.1
In c o m e re c e ip ts o n a s s e t s ..
2 4 .8
2 5 .0
2 6 .2
2 4 .9
2 3 .4
2 3 .3
2 4 .2
2 5 .4
2 6 .7
2 4 .7
2 3 .1
22.6
2 3 .4
2 5 .1
2 5 .9
2 7 .5
I n t e r e s t r e c e i p t s ....................
1 7 .6
1 8 .2
1 8 .1
1 6 .0
1 7 .4
1 5 .0
1 5 .3
1 6 .1
1 7 .5
1 7 .5
1 7 .5
1 7 .4
1 7 .2
1 7 .3
1 7 .4
1 7 .6
R e n t s a n d r o y a l t i e s .............
7 .2
8 .3
8 .9
9 .3
9 .3
7 .2
5 .6
5 .2
7 .9
8 .5
9 .9
3 3 .5
3 2 .2
3 2 .8
3 3 .6
3 3 .0
3 2 .5
3 2 .5
3 3 .2
3 6 .0
3 7 .3
3 8 .4
3 9 .4
2 1 .9
C u r r e n t tr a n s fe r r e c e ip t s .
3 5 .1
6.8
8.1
8 .9
3 3 .3
3 8 .2
3 2 .9
6.0
6.2
4 9 .8
F r o m b u s i n e s s ..................
1 9 .3
1 8 .2
2 1 .9
1 7 .6
1 8 .6
1 7 .5
1 7 .7
1 8 .0
1 7 .5
1 7 .3
1 7 .7
1 8 .4
20.8
2 1 .4
21.8
F r o m p e r s o n s ....................
1 5 .8
1 5 .1
1 6 .3
1 5 .3
1 5 .0
1 4 .7
1 5 .2
1 5 .6
1 5 .5
1 5 .2
1 4 .8
1 4 .7
1 5 .2
1 5 .9
1 6 .6
1 7 .5
C u rre n t s u rp lu s o f g o v e rn m e n t e n te r p r is e s .
- 3 .6
-
- 1 .4
-
- 1 .4
-
- 1 .5
-
- 0 .5
- 0 .7
- 5 .8
- 4 .0
-
- 3 .5
- 3 .8
0.1
- 1.8
- 0 .4
P o s t a l S e r v i c e .................................................................
0.6
- 2.2
-2 .3
-
F e d e r a l H o u s i n g A d m i n i s t r a t i o n .......................
T e n n e s s e e V a lle y A u th o r ity ..................................
O t h e r .....................................................................................
Current expenditures.
-
2.1
2.2
2.1
2.0
-
1.6
2.1
3 .1
2.1
2 .3
2 .4
2.6
1 .9
2.1
2.0
- 2.6
2.6
2.0
1.8
- 2.6
2,692.2
2,882.5
2,637.9
- 2 .5
2,687.5
2,874.3
C o n s u m p t i o n e x p e n d i t u r e s .............
8 0 3 .3
8 6 5 .7
N a t i o n a l d e f e n s e ...............................
5 3 2 .8
- 4 .2
- 3 .2
3,005.6
- 3 .2
-
-
-
1.1
2.8
2.1
1.8
2.2
2,686.2
2.1
1.8
- 1 .9
2,730.2
1.6
- 3 .2
- 4 .9
2.2
2.1
1 .9
1 .9
- 1 .9
- 2 .3
2,714.4
2,873.3
2.6
2 .3
2 .5
2 .9
3 .0
2.0
2.1
2.1
2.2
-2 .7
2,910.8
- 2 .9
2,925.8
- 3 .0
2,964.6
- 3 .1
2,971.5
-
2.8
3 .1
2.2
- 3 .2
2,982.6
9 0 9 .1
8 5 2 .9
8 7 7 .1
8 9 4 .0
8 9 6 .6
9 0 1 .1
9 0 7 .1
9 1 0 .1
6 1 7 .2
5 4 2 .0
5 7 3 .2
5 8 7 .8
6 0 2 .0
6 0 5 .7
6 1 2 .6
6 2 2 .8
6 2 7 .8
4 .1
1 0 .5
5 .5
5 .5
5 .5
5 5
5 5
122
122
122
J a n u a r y 2 0 0 7 ...........................
4 .1
5 .5
5 .5
5 .5
5 5
5 5
5 5
5 .5
5 5
5 5
6 .7
6 .7
6 7
8 0 3 .6
8 0 2 .3
5 3 7 .7
5 5 3 .2
- 2 .5
-1 .3
5 7 9 .1
5 3 7 .7
8 0 9 .1
2.2
2.0
-
P a y r a i s e s a n d lo c a li ty p a y .
8 8 0 .2
5 3 9 .3
2,820.0
- 0 .9
0 .3
8 0 8 .0
5 9 2 .2
8 1 7 .1
0.8
5 .0
J a n u a r y 2 0 0 8 ...........................
O t h e r ...................
5 3 2 .8
5 7 4 .9
6 0 6 .7
5 4 2 .0
5 8 6 .7
5 3 7 .7
5 3 7 .7
5 3 9 .3
5 5 3 .2
5 6 7 .7
5 8 2 .3
5 9 6 .5
6 0 0 .2
6 0 0 .4
6 1 0 .6
6 1 5 .6
N o n d e f e n s e ..........
2 7 0 .5
2 8 6 .6
2 9 1 .8
2 6 6 .0
2 8 8 .0
2 6 5 .9
2 6 4 .6
2 6 9 .8
2 6 3 .9
2 7 9 .7
2 8 9 .3
2 9 1 .9
2 9 1 .0
2 8 8 .5
2 8 4 .2
2 8 2 .3
1 .7
4 .5
2 .3
2 .3
2 .3
2 3
5 .2
5 .3
5 3
1 .7
2 .3
2 .3
2 .3
2 .3
2 3
P a y r a i s e s a n d lo c a li ty p a y .
Ja n u ary 2 0 0 7
2.2
Ja n u ary 2 0 0 8
O t h e r ...................
2.2
2.2
2 7 0 .5
2 8 4 .9
2 8 7 .3
2 6 6 .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 ,5 4 3 .2
G o v e r n m e n t s o c i a l b e n e f i t s ....
2 8 5 .7
2 6 5 .9
2 6 4 .6
2 6 9 .8
2 6 3 .9
2 7 7 .5
2 8 7 .0
2 8 9 .6
2 8 8 .7
2 .3
2 .3
2 .9
3 0
3 0
2 8 3 .3
2 7 8 .9
2 7 7 .0
2 3
1 ,7 0 4 .3
1 ,7 0 7 .7
1 ,6 5 5 .1
1 ,7 1 8 .4
1 ,5 5 1 .6
1 ,6 6 3 .8
1 ,5 2 2 .0
1 ,5 6 4 .8
1 ,5 7 2 .9
1 ,6 7 6 .4
1 ,6 8 0 .6
1 ,7 0 8 .8
1 ,1 5 1 .4
1 ,2 4 4 .9
1 ,3 0 3 .3
1 ,1 7 0 .5
1 ,2 4 7 .9
1 ,1 4 8 .8
1 ,1 6 6 .4
1 ,1 7 5 .2
1 ,1 9 1 .8
1 ,2 2 5 .1
1 ,2 4 2 .1
1 ,2 5 5 .9
1 ,2 6 8 .6
1 ,2 8 7 .5
1 ,2 9 4 .5
1 ,2 9 8 .9
T o p e r s o n s .........................
1 ,1 4 8 .2
1 ,2 4 1 .5
1 ,2 9 9 .9
1 ,1 6 7 .3
1 ,2 4 4 .5
1 ,1 4 5 .5
1 ,1 6 3 .1
1 ,1 7 2 .1
1 ,1 8 8 .7
1 ,2 2 1 .9
1 ,2 3 8 .7
1 ,2 5 2 .4
1 ,2 6 5 .1
1 ,2 8 4 .1
1 ,2 9 1 .1
1 ,2 9 5 .5
S o c i a l S e c u r i t y ..........
5 3 6 .1
5 6 7 .7
5 9 3 .0
5 4 3 .8
5 7 8 .4
5 3 7 .8
5 4 3 .5
5 4 5 .9
5 4 8 .1
5 7 1 .6
5 7 6 .4
5 8 0 .8
5 8 4 .8
5 9 6 .1
5 9 8 .1
5 9 9 .1
1 ,5 4 6 .6
1 ,6 3 6 .8
1 ,6 6 1 .4
1 . T h e f is c a l y e a r e s t i m a t e s a r e th e s u m o f q u a r te r ly e s t i m a t e s t h a t a r e n o t s e a s o n a lly a d ju s te d a n d th a t a r e c o n s is te n t
w ith t h e b u d g e t p r o p o s a l s .
4 . M o s t tr a n s p o r ta tio n g r a n ts -in - a id to s t a t e a n d lo c a l g o v e r n m e n ts a r e c la s s if i e d a s c a p ita l t r a n s f e r s p a id ( s e e
a d d e n d a ), b u t w a t e r a n d ra ilro a d tr a n s p o r ta tio n g r a n ts a r e still c la s s if i e d a s c u r r e n t - a c c o u n t t r a n s a c tio n s .
2 . T h e s e e s t i m a t e s a r e p u b lis h e d in t h e N IPA t a b l e s 3 . 2 a n d 3 . 9 . 5 in th is is s u e .
3 . T h e NIPA e s tim a te o f c o r p o r a t e p ro fits ta x a c c r u a l s fo r t h e f o u rth q u a r t e r o f 2 0 0 6 will n o t b e a v a ila b le until t h e r e l e a s e
of t h e final e s tim a te o f g r o s s d o m e s tic p r o d u c t o n M a rc h 2 9 , 2 0 0 7 . T h e v a lu e s h o w n is d e r iv e d f ro m t h e b u d g e t.
5 . G r o s s in v e s tm e n t c o n s i s t s of g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s fo r fix e d a s s e t s ; in v e n to ry
in v e s tm e n t is in c lu d e d in F e d e ra l G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
March 2007
19
S u r v e y o f C u r r e n t B u s in e s s
receipts that more than offset the increases in current
expenditures. The increases in current receipts are ac
counted for by increases in personal current taxes and
contributions for government social insurance.
Investment. Gross government investment in
creased from $118.2 billion in the first quarter o f 2006
to $120.1 billion in the fourth quarter, driven mostly
by increases in national defense gross investment. In
2007, gross government investment is projected to
increase in the first and second quarters and then to
Receipts and Expenditures
q u a rte r s a t s e a s o n a lly a d ju s te d a n n u a l ra te s ]
Q u a rte r
C a le n d a r y e a r
P u b lis h e d 2
F isca l y e a r e s tim a te s 1
E s tim a te d
P u b l is h e d 2 E s tim a te d
2006
2006
R e g u l a r .......................................................................................
B e n e f i t i n c r e a s e s ................................................................
J a n u a r y 2 0 0 7 .................................................................
J a n u a r y 2 0 0 8 .................................................................
5 3 6 .1
0.0
0.0
0.0
2007
2008
5 5 4 .0
5 6 8 .6
1 3 .7
2 4 .4
1 3 .7
1 8 .3
0.0
2007
2006
5 4 3 .8
0.0
0.0
0.0
6.2
I
5 6 0 .1
1 8 .3
1 8 .3
0.0
II
5 3 7 .8
0.0
0.0
0.0
5 4 3 .5
0.0
0.0
0.0
1 8 .3
1 8 .3
1 8 .3
1 8 .3
2 6 .5
2 6 .5
2 6 .5
1 8 .3
1 8 .3
1 8 .3
1 8 .3
1 8 .3
1 8 .3
0.0
0.0
8.2
0.0
III
1 8 .3
8.2
8.2
2 7 .5
2 7 .8
2 8 .2
2 8 .8
2 9 .5
3 0 .1
3 0 .6
3 0 .8
3 9 .3
3 9 .7
4 0 .4
4 2 .5
4 3 .2
4 3 .6
4 4 .0
4 4 .8
4 5 .0
4 4 .9
9 .5
9 .6
10.0
10.0
10.0
10.0
10.2
10.2
6 .9
7 .0
7 .0
7 .1
7 .2
7 .4
7 .5
7 .6
7 .6
2 9 .8
3 1 .2
3 1 .8
3 1 .8
3 1 .8
3 3 .2
3 3 .3
3 3 .3
3 3 .4
2 7 .8
2 8 .6
2 8 .2
V e t e r a n s b e n e f i t s ......................................................................
3 7 .4
4 2 .0
4 4 .3
3 9 .5
4 3 .3
3 8 .6
R a i l r o a d r e t i r e m e n t .................................................................
9 .4
9 .7
10.0
9 .5
10.0
9 .5
9 .4
M ilita ry m e d i c a l i n s u r a n c e ................................................
6.8
6.8
7 .3
6.8
7 .2
6.6
6 .7
2 9 .6
0.6
5 7 2 .6
0.0
II
2 7 .7
3 3 .9
0.6
5 7 1 .6
2 7 .5
3 1 .7
0.6
5 6 9 .6
4 4 1 .4
3 1 .1
0.6
5 6 6 .5
4 3 8 .5
U n e m p l o y m e n t b e n e f i t s ......................................................
0.6
5 6 2 .6
4 3 4 .5
3 7 2 .1
2 9 .4
5 5 8 .1
5 5 3 .3
I
4 3 0 .1
4 1 9 .4
3 2 .2
IV
4 2 4 .2
3 8 7 .5
3 0 .0
0.0
0.0
0.0
2008
III
4 1 6 .7
4 5 0 .8
3 2 .0
5 4 8 .1
II
4 0 6 .5
4 2 7 .2
3 0 .5
5 4 5 .9
0.0
0.0
0.0
I
4 0 2 .6
3 7 2 .3
3 0 .2
IV
3 9 0 .8
M e d i c a r e .........................................................................................
F o o d s t a m p s .................................................................................
2007
III
3 8 4 .6
0.6
0.6
0.6
0.6
0.6
0.6
10.2
0 .5
0 .5
0 .5
0 .5
S u p p l e m e n t a l s e c u r i t y i n c o m e .....................................
3 5 .5
3 8 .2
3 9 .9
3 5 .2
3 7 .5
3 5 .2
3 5 .2
3 5 .1
3 5 .3
3 7 .0
3 7 .5
3 7 .8
3 7 .9
3 8 .6
3 8 .7
3 8 .8
E a r n e d i n c o m e a n d o t h e r t a x c r e d i t s ......................
5 1 .7
5 1 .5
5 2 .0
5 1 .8
5 1 .5
5 1 .8
5 1 .8
5 1 .8
5 1 .8
5 1 .5
5 1 .5
5 1 .5
5 1 .5
5 2 .0
5 2 .0
5 2 .0
3 6 .7
B l a c k lu n g b e n e f i t s .................................................................
0 .5
All o t h e r ............................................................................................
3 7 .2
3 5 .5
3 6 .3
3 4 .8
3 5 .8
3 5 .9
3 4 .7
3 4 .2
3 4 .5
3 5 .6
3 5 .7
3 6 .0
3 6 .0
3 6 .4
3 6 .6
T o r e s t o f t h e w o r l d ........................................................................
3 .2
3 .3
3 .4
3 .2
3 .4
3 .2
3 .3
3 .1
3 .1
3 .2
3 .4
3 .5
3 .4
3 .4
3 .4
3 .4
G r a n t s - i n - a i d t o s t a t e a n d l o c a l g o v e r n m e n t s ................
3 6 1 .4
3 7 3 .9
3 7 7 .2
3 5 8 .0
3 7 6 .3
3 5 1 .3
3 5 7 .0
3 6 5 .6
3 5 8 .2
3 6 8 .7
3 7 9 .4
3 8 0 .9
3 7 6 .3
3 7 6 .4
3 7 5 .2
3 7 2 .8
C e n t r a l e x e c u t i v e , l e g is la tiv e , a n d ju d ic ia l
2.2
0.6
2 .4
0 .5
0 .5
2.1
0.6
2.1
0.6
2 .3
0 .5
2.1
0.6
2.0
0 .5
2.1
0.6
1 .9
0.6
2.2
0.6
2.0
S p a c e .......................................................................................................
0 .7
2.1
0.6
2.0
0.6
2.0
0.6
0.6
N a t i o n a l d e f e n s e ............................................................................
3 .7
3 .7
3 .5
3 .8
3 .6
3 .9
3 .7
3 .8
3 .6
3 .7
3 .8
3 .5
3 .6
3 .5
3 .5
3 .5
a c t i v i t i e s ..........................................................................................
C iv ilia n s a f e t y ....................................................................................
5 .9
5 .0
4 .8
E d u c a t i o n .............................................................................................
4 1 .9
4 2 .6
3 9 .7
2.0
6.0
4 2 .2
4 .8
5 .7
6 .4
4 2 .6
3 8 .5
4 3 .1
6.0
4 4 .6
1 .9
5 .9
5 .2
4 .8
4 .5
4 .7
4 .9
5 .0
5 .2
4 2 .5
4 3 .0
4 3 .1
4 2 .5
4 1 .7
4 0 .8
3 9 .3
3 7 .8
H e a l t h a n d h o s p i t a l s ....................................................................
2 7 .6
2 8 .1
2 8 .1
2 8 .0
2 6 .9
2 5 .8
2 9 .7
2 7 .4
2 9 .2
2 7 .6
2 6 .9
2 6 .0
2 6 .9
2 7 .2
2 7 .5
2 8 .0
I n c o m e s u p p o r t , s o c i a l s e c u r i t y a n d w e l f a r e ...........
2 5 2 .1
2 6 1 .4
2 6 8 .1
2 4 8 .1
2 6 5 .6
2 4 8 .1
2 4 3 .7
2 5 5 .7
2 4 5 .1
2 5 7 .1
2 6 8 .5
2 7 1 .0
2 6 6 .1
2 6 7 .5
2 6 7 .7
2 6 6 .2
1 .9
1 .9
1 .9
1 .9
1 .9
1 .9
D is a b ilit y ..........................................................................................
2.0
2.0
2.1
2.0
1.8
2.0
2.0
2.0
1 .9
2.1
U n e m p l o y m e n t i n s u r a n c e ..................................................
3 .4
3 .7
3 .5
3 .4
3 .7
3 .5
3 .3
3 .6
3 .3
3 .7
3 .7
3 .9
3 .7
3 .6
3 .5
3 .4
M e d ic a l c a r e ( M e d i c a i d ) .....................................................
1 7 6 .7
1 8 3 .6
1 9 3 .7
1 7 3 .9
1 8 6 .3
1 7 3 .9
1 6 6 .7
1 8 1 .5
1 7 3 .4
1 8 0 .1
1 8 7 .7
1 8 9 .8
1 8 7 .7
1 9 2 .0
1 9 5 .1
1 9 6 .3
W e lf a r e a n d s o c i a l s e r v i c e s .............................................
6 3 .6
6 4 .5
6 3 .1
6 7 .3
6 5 .2
O t h e r i n c o m e s u p p o r t ..........................................................
6 .4
66.1
6.1
V e t e r a n s b e n e f i t s a n d s e r v i c e s ..........................................
0 .7
0 .7
H o u s i n g a n d c o m m u n i t y s e r v i c e s ....................................
1 3 .9
1 6 .7
R e c r e a t i o n a l a n d c u l tu r a l a c t i v i t i e s ..................................
0 .5
0 .5
6 3 .0
6 4 .7
6 3 .0
6 1 .6
68.2
68.8
6 7 .1
6 5 .5
6 3 .4
6 1 .6
4 .2
5 .8
6 .3
5 .8
7 .0
5 .6
4 .9
6.2
6 .9
6 .5
5 .7
4 .5
3 .6
2 .9
0.8
0 .7
0 .7
0.6
0 .7
0.6
0 .7
0 .7
0 .7
0 .7
0 .7
0 .7
0.8
1 7 .0
1 5 .0
1 6 .8
1 3 .9
1 7 .9
1 7 .0
1 6 .2
1 6 .6
1 7 .2
1 7 .1
1 7 .1
1 7 .3
0 .4
0 .5
0 .5
0 .3
0 .4
0 .5
0 .5
0 .5
0 .5
0 .4
0 .4
0 .4
1 4 .1
0.8
1 4 .2
0.8
1 .4
1 .3
1 .5
1 .4
1 .4
0.6
1.2
1.0
1.0
1.6
0 .9
1.1
0 .9
0 .9
0 .9
1.2
0.8
0 .9
1.6
1.1
1.6
1.2
1 .5
A g r i c u l t u r e ............................................................................................
1 .3
1 .4
1 .5
1 .9
N a t u r a l r e s o u r c e s ...........................................................................
4 .8
4 .3
4 .1
4 .3
4 .1
4 .6
4 .8
3 .8
3 .8
3 .9
4 .1
4 .2
4 .2
4 .1
3 .9
3 .8
T r a n s p o r t a t i o n 4...............................................................................
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
E c o n o m ic d e v e lo p m e n t, r e g u la tio n a n d s e r v i c e s
0 .4
0 .4
0 .4
0 .4
0 .4
0 .4
0 .4
0 .3
0 .3
0 .4
0 .4
0 .5
0 .4
0 .4
0 .4
0 .3
L a b o r t r a i n i n g a n d s e r v i c e s ...................................................
4 .8
5 .1
4 .6
4 .3
4 .9
4 .6
4 .8
3 .8
4 .1
4 .6
5 .1
5 .2
4 .8
4 .2
4 .1
3 .9
2 3 .2
2 4 .0
2 2 .9
4 3 .0
3 9 .9
3 9 .6
3 5 .8
4 4 .9
3 4 .6
3 6 .0
E n e r g y .....................................................................................................
1 .3
1 .5
1 .5
1 .4
1 .4
1 .3
O th e r c u rr e n t tr a n s fe r p a y m e n ts to th e r e s t of th e
22.0
w o r l d ..........................................................................................................
3 0 .4
3 6 .4
3 7 .8
2 3 .0
3 9 .6
F e d e r a l i n t e r e s t p a i d .................................................................................
2 8 6 .7
3 0 6 .2
3 3 1 .9
2 8 0 .4
2 8 7 .7
2 5 7 .5
2 8 5 .4
3 0 4 .9
2 7 3 .9
2 7 8 .5
2 8 3 .8
2 8 9 .8
2 9 8 .7
3 0 4 .9
3 1 0 .3
3 1 4 .9
S u b s i d i e s ...........................................................................................................
5 4 .4
4 7 .3
4 6 .3
5 2 .1
5 0 .8
5 4 .7
5 1 .9
5 1 .4
5 0 .6
5 1 .7
5 1 .0
5 0 .6
4 9 .9
4 9 .8
4 9 .9
4 9 .9
A g r i c u l t u r a l .................................................................................................
2 0 .4
1 3 .6
12.1
1 8 .9
1 4 .8
21.1
1 9 .2
1 8 .2
1 7 .2
1 5 .9
1 4 .9
1 4 .3
1 4 .0
1 3 .9
1 4 .0
1 4 .3
H o u s i n g ........................................................................................................
2 8 .3
2 9 .0
2 9 .9
2 8 .9
3 0 .3
2 8 .4
2 8 .9
2 9 .1
2 9 .2
2 9 .7
3 0 .2
3 0 .6
3 0 .9
3 1 .0
3 0 .9
3 0 .6
O t h e r ...............................................................................................................
5 .8
4 .8
4 .4
4 .3
5 .7
5 .2
3 .8
4 .2
4 .1
6.1
5 .9
5 .7
5 .0
5 .0
5 .0
5 .0
a c c r u a l s l e 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
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net Federal Government saving..................
-213.9
-233.4
-238.3
-157.7
-230.3
-147.0
-163.1
-173.0
-147.9
-215.3
-243.5
-246.4
-216.2
-229.1
-198.6
-169.8
G r o s s i n v e s t m e n t 5..............................................................................
1 1 3 .9
1 2 4 .7
1 1 9 .8
1 1 8 .4
1 2 8 .2
1 1 8 .2
1 1 7 .4
1 1 8 .1
120.1
1 2 5 .2
1 3 0 .9
1 2 6 .8
1 2 4 .6
1 1 7 .6
1 1 7 .5
N a t i o n a l d e f e n s e .............................................................................
7 6 .9
8 6 .7
7 9 .1
7 9 .0
8 7 .0
7 5 .8
7 8 .8
7 8 .8
8 2 .5
8 5 .5
9 0 .0
88.8
8 3 .7
8 1 .9
7 5 .4
7 5 .6
N o n d e f e n s e .........................................................................................
3 7 .0
3 8 .0
4 0 .7
3 9 .4
4 1 .2
4 2 .4
3 8 .6
3 9 .3
3 7 .5
3 9 .6
4 0 .9
4 1 .3
4 3 .1
4 2 .8
4 2 .2
4 1 .9
1 ,0 2 5 .7
1 ,0 2 4 .6
1 ,0 2 7 .6
Less: W a g e
Addenda:
1 3 0 .1
C o n s u m p t i o n e x p e n d i t u r e s a n d g r o s s i n v e s t m e n t ...........
9 1 7 .1
9 9 0 .4
1 ,0 2 8 .9
9 2 6 .4
1 ,0 0 8 .4
9 2 1 .7
9 1 9 .7
9 2 7 .2
9 3 7 .2
9 7 8 .1
1 ,0 0 8 .0
1 ,0 2 4 .1
1 ,0 2 3 .4
N a t i o n a l d e f e n s e ....................................................................................
6 0 9 .6
6 6 5 .8
6 9 6 .4
6 2 1 .0
6 7 9 .2
6 1 3 .5
6 1 6 .5
6 1 8 .1
6 3 5 .7
6 5 8 .8
6 7 7 .8
6 9 0 .9
6 8 9 .4
6 9 4 .5
6 9 8 .2
7 0 3 .4
N o n d e f e n s e ...............................................................................................
3 0 7 .5
3 2 4 .6
3 3 2 .5
3 0 5 .5
3 2 9 .2
3 0 8 .2
3 0 3 .2
3 0 9 .0
3 0 1 .5
3 1 9 .4
3 3 0 .2
3 3 3 .2
3 3 4 .0
3 3 1 .2
3 2 6 .4
3 2 4 .1
2 ,5 0 1 .3
2, 666.0
2 ,7 9 2 .8
2 ,5 6 1 .9
2 ,6 7 8 .7
2 ,5 1 9 .7
2 ,5 5 0 .9
2 ,5 8 3 .7
2 ,5 9 3 .6
2 ,6 3 1 .3
2 ,6 5 6 .3
2 ,6 9 1 .1
2 ,7 3 6 .3
2 ,7 6 2 .4
2 ,8 0 0 .2
2 ,8 4 0 .5
2 ,4 7 3 .6
2 ,6 4 0 .9
2 ,7 6 7 .4
2 ,5 3 4 .4
2 ,6 5 2 .2
2 ,4 9 0 .9
2 ,5 2 3 .2
2 ,5 5 7 .2
2 ,6 2 9 .8
2 ,6 6 4 .5
2 ,7 0 9 .7
2 ,7 3 5 .5
2 ,7 7 2 .9
2 ,8 1 2 .8
2 7 .7
2 5 .0
2 5 .5
2 7 .5
2 6 .6
2 8 .8
2 7 .7
2 6 .5
2 ,5 6 6 .5
2 7 .1
2 ,6 0 4 .7
C a p i t a l t r a n s f e r r e c e i p t s ...................................................................
2 6 .6
2 6 .5
2 6 .6
2 6 .6
2 6 .9
2 7 .3
T o ta l e x p e n d i t u r e s ......................................................................................
2 ,7 6 7 .1
2 ,9 5 6 .0
3 ,0 7 8 .3
2 ,7 6 3 .1
2 ,9 7 2 .3
2 ,7 2 5 .8
2 ,7 6 6 .9
2 ,8 1 4 .1
2 ,7 4 5 .7
2 ,9 1 0 .4
2 ,9 6 9 .4
3 ,0 0 5 .8
3 ,0 0 3 .7
3 ,0 4 0 .7
3 ,0 4 1 .1
3 ,0 5 1 .0
C u r r e n t e x p e n d i t u r e s .........................................................................
2 ,6 8 7 .5
2 ,8 7 4 .3
3 ,0 0 5 .6
2 ,6 9 2 .2
2 ,8 8 2 .5
2 ,6 3 7 .9
2, 686.2
2 ,7 3 0 .2
2 ,7 1 4 .4
2 ,8 2 0 .0
2 ,8 7 3 .3
2 ,9 1 0 .8
2 ,9 2 5 .8
2 ,9 6 4 .6
2 ,9 7 1 .5
2 ,9 8 2 .6
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 1 3 .9
1 1 8 .4
120.1
1 2 5 .2
1 3 0 .9
1 3 0 .1
T o ta l r e c e i p t s ..................................................................................................
C u r r e n t r e c e i p t s ......
C a p ita l tr a n s f e r p a y m e n ts
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 t s ...............................
6 9 .4
0.0
1 2 8 .2
1 1 8 .2
7 7 .8
7 7 .4
7 0 .1
7 4 .1
7 2 .0
- 1 3 .7
1 2 4 .7
- 1 3 .3
- 1 3 .3
- 3 .7
1 1 9 .8
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 0 3 .7
1 0 7 .2
1 1 1 .3
N e t le n d i n g o r n e t b o r r o w in g ( - ) .....................................................
- 2 6 5 .8
-2 9 0 .0
- 2 8 5 .5
1 0 4 .3
-
201.2
1 1 7 .4
1 1 8 .1
6 9 .2
7 0 .1
- 2 .3
0.8
6 9 .2
7 3 .1
7 4 .3
7 5 .3
- 5 2 .1
- 0 .9
- 0 .9
- 0 .9
1 2 6 .8
12.2
1 0 8 .8
1 0 2 .4
1 0 3 .7
1 0 5 .1
1 0 6 .0
1 0 6 .9
1 0 8 .2
1 0 9 .5
1 1 0 .5
- 2 0 6 .1
- 2 1 6 .0
- 2 3 0 .4
-1 5 2 .1
- 2 7 9 .2
-3 1 3 .2
- 3 1 4 .7
- 2 6 7 .4
F IC A F e d e r a l I n s u r a n c e C o n trib u tio n s A ct
NIPA 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
S E C A S e lf -E m p lo y m e n t C o n trib u tio n s A ct
1 2 4 .6
7 3 .7
-
- 2 9 3 .6
N o te : F is c a l y e a r e s t i m a t e s differ fro m t h e e s t i m a t e s in Budget of the United States Government, Analytical Perspecfives; Fiscal Year 2008 b e c a u s e of a d d itio n a l d a t a r e c e iv e d a f te r th e b u d g e t w a s r e l e a s e d .
S o u r c e s : Budget of the United States Government, Fiscal Year 2008 a n d t h e B u r e a u o f E c o n o m ic A n a ly s is .
0.2
1 1 7 .6
7 5 .4
12.2
111.8
-
- 2 7 8 .2
2 7 .7
1 1 7 .5
7 7 .3
-
12.2
7 7 .6
-
12.2
1 1 3 .1
1 1 4 .5
- 2 4 0 .9
-2 1 0 .5
Federal Budget Estimates
20
decrease in the third and fourth quarters; in 2008, it is
projected to decrease in all the quarters. The quarterly
pattern for investment primarily reflects the pattern o f
defense investment.
Capital transfer receipts and payments. Capital
transfer receipts decreased from $28.8 billion in the
first quarter o f 2006 to $27.1 billion in the fourth quar
ter. In 2007, capital transfer receipts are projected to
decrease in the first and second quarters and then to
remain relatively unchanged in the third and fourth
quarters. In 2008, capital transfer receipts are projected
to increase in all the quarters.
Capital transfer payments decreased from $72.0 bil
lion in the first quarter o f 2006 to $69.2 billion in the
fourth quarter. In 2007, capital transfer payments are
projected to increase in the first three quarters and
then to decrease in the fourth quarter. (For more infor
mation on NIPA capital transfers see the box “New
Transactions in the NIPA Federal Sector.” )
Net borrowing. This measure decreased from
-$206.1 billion in the first quarter o f 2006 to -$152.1
billion in the fourth quarter. In 2007, net borrowing is
projected to increase in the first, second, and third
quarters and then to decrease in the fourth quarter. In
March 2007
2008, net borrowing is projected to increase in the first
quarter and then to decrease in the last three quarters.
Translation of B ud get Data
into a NIPA Fram ew ork
BEA uses a detailed analytical process to translate Fed
eral budget receipts and outlays into a NIPA fram e
work.
Receipts
Fiscal year budget data for receipts are supplemented
by information on the effects o f budget proposals from
the Department o f the Treasury’s Office of Tax Analysis
and information included in the budget’s Appendix.13
These data are analyzed for their effects on the fol
lowing m ajor components o f the NIPA Federal
Government current receipts: Current tax receipts,
contributions for government social insurance, in
come receipts on assets, current transfer receipts, and
current surplus o f government enterprises. Quarterly
projections are based on the economic assum ptions
13.
See Appendix: Budget of the United States Government, Fiscal Year
2008.
New Transactions in the NIPA Federal Sector
As a result of legislation enacted and litigation settled in
2006, new transactions are included in the national
income and product accounts (NIPAs). These transac
tions affect capital transfers from the government sector
to the household sector, personal current taxes, and taxes
on corporate income.
Postal service retiree health benefits fund. As a result
of the Postal Accountability and Enhancement Act,
enacted on December 20, 2006, the Postal Service Retiree
Health Benefits Fund was created. This new fund will be
established with a transfer of $23.0 billion from the Civil
Service Retirement and Disability Fund and with $3.0
billion from the Postal Service from the required escrow
account that was abolished as a result of the act.
In the NIPAs, the new fund will be considered an asset
of the household sector, and the $23 billion payment
from the Civil Service Retirement and Disability Fund
will be considered an intrasectoral transfer because this
fund is already treated as an asset in the household sector.
The $3.0 billion payment (and subsequent payments
from 2007 to 2017) from the Postal Service will be treated
as capital transfers from the government sector to the
household sector.
Telephone excise tax refunds. According to statute, a
3-percent tax could be charged on calls for which the toll
was based on the distance and the elapsed time of each
call. However, the Internal Revenue Service (IRS) had
contended that the tax could be charged on calls for
which the toll was based on either the distance or the
elapsed time. In 2004, corporations began to sue the
Department of the Treasury, claiming that the tax was
illegal because many individuals and businesses are now
charged a flat fee rather than a rate based on distance or
elapsed time. In May 2006, after a string of losses in cir
cuit and appeals courts throughout the country, the Trea
sury Department declared that it would no longer collect
the tax on toll calls and that it would refund about $15
billion to taxpayers. The refunds are being paid through
the Federal income tax system.
In the NIPAs, these refunds, like other income tax
refunds, will be recorded as either refunds of personal
current taxes or as refunds of taxes on corporate income.
The total amount of the annual telephone tax refunds
will be recorded in the first quarter of 2007, and the
monthly and quarterly estimates will be held at that level
for the rest of the year.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
from the Federal budget. When monthly and quarterly
NIPA estimates are released by BEA, these initial quar
terly projections o f receipts are reevaluated and revised
to incorporate newly available data from the Depart
ment o f the Treasury.
Outlays
Fiscal year budget outlays are organized by appropria
tion in the Federal budget’s Appendix. These data and
supplemental data from the Office o f M anagement and
Budget are used to allocate Federal budget outlays to
the following NIPA categories: Current transfer pay
ments, interest payments, subsidies, and consumption
expenditures and gross investment.14 The quarterly
projections are mainly derived by interpolation from
fiscal year projections.
When BEA releases its quarterly NIPA estimates, the
fiscal year relationships derived from the budget data
are used to allocate the spending that is detailed in the
Monthly Treasury Statement o f Receipts and Outlays of
the United States Government.15 Supplemental data are
14. Outlays by program are first adjusted for coverage (for example, for
geographical adjustments) and for netting and grossing (for example, sup
plemental medical insurance premiums).
15. Department of the Treasury, Financial Management Service, Monthly
Treasury Statement (Washington, DC: U.S. Government Printing Office)
<www.fms.treas.gov/mts>.
21
also used. A detailed reconciliation o f defense con
sum ption expenditures and gross investment with out
lays is prepared, using extensive financial, delivery, and
other information from the Department o f Defense. In
order to prepare seasonally adjusted estimates o f non
defense consum ption expenditures and gross invest
ment, data from the budget are used to extrapolate
portions o f nondefense expenditures (for durable
goods, for “other nondurable goods,” for “other ser
vices,” and for equipm ent) for which there are no
quarterly source data. These extrapolated estimates o f
expenditures incorporate quarterly data for certain ex
penditures, such as those for construction from the
Census Bureau and for compensation from the Office
o f Personnel Management and the Bureau o f Labor
Statistics.
Updated estimates
BEA’s initial quarterly projections o f Federal Govern
ment receipts and expenditures will likely differ from
later estimates. The initial estimates are prepared from
budget data, which are based on various economic as
sum ptions about the budget year. These estimates are
then updated during the year as new laws are enacted,
as actual spending occurs, as economic conditions
change, and as more source data become available.
22
March 2007
Research and Development Activities of U.S.
Multinational Companies
P relim in a ry R esults From the 2004 B ench m ark S urvey
By Daniel R. Yorgason
HE Bureau o f Economic Analysis (BEA) has em
barked on a long-term effort to provide more ex
tensive economic data and analysis about research and
development activity and its effects on the economy. In
keeping with this goal, this article on the research and
development (R&D) activities o f U.S. multinational
companies (M NCs) has been prepared to supplement
an earlier article sum m arizing other general results
from BEA’s 2004 benchmark survey o f U.S. direct in
vestment abroad.1 The benchmark survey is more
comprehensive than BEA’s annual surveys in its cover
age o f companies and in the information gathered on
R&D activities.
The inform ation presented here complements other
BEA research on the effects o f R&D activity on eco
nom ic growth. Last September, BEA released a new
R&D satellite account developed in conjunction with
the National Science Foundation.2 The satellite ac
count recognizes that R&D is actually a form o f invest
ment— investment that produces an intangible asset,
knowledge. In order to measure the effect o f R&D ac
tivity on investment, saving, and the gross domestic
product (GDP), the satellite account modifies the ac
counting conventions used in GDP accounts and treats
R&D spending as investment rather than as an ex
pense. The M N C R&D data, and related BEA research
on R&D and other innovation-related activities o f
M NCs, will assist in the further development o f the
R&D satellite account. Two goals for this work are to
determine how to introduce an international dim en
sion into the satellite account and to assess the extent
to which R&D data from U.S. M N Cs can be used in
improving the estimates o f domestic R&D (see the box
“Multinational Com panies and R&D: Other Issues” ).
In furtherance o f these goals, BEA, the National Sci
ence Foundation (NSF), and the Census Bureau
(which conducts an R&D survey on behalf o f NSF) are
currently engaged in a project linking data from their
surveys to provide a more complete picture o f R&D as
sociated with U.S. and foreign M NCs. Results from
this project are scheduled to be published later this
year.3 The data link will provide information on the
types o f R&D conducted by M N C s (basic research, ap
plied research, and development) and the location, by
state, o f their R&D conducted in the United States.
In addition to the international aspects, work on the
R&D satellite account will continue in several other ar
eas, including improving output measures and input
deflators, better identifying the owners and location of
use o f R&D assets, and estimating capital services for
R&D.4 Work on the satellite account also will examine
ways to incorporate aspects o f BEA’s industry and re
gional accounts.
1. A MNC comprises a U.S. parent company and its foreign affiliates. This
analysis of R&D activities of U.S. MNCs focuses exclusively on data for
majority-owned foreign affiliates (MOFAs) rather than on data for all for
eign affiliates because the data items necessary for this analysis are only col
lected for MOFAs. Conceptually, many data users prefer the data for
majority-owned affiliates because such affiliates are unambiguously under
U.S. control; foreign affiliates that are minority owned by a U.S. resident
could also be under the influence or control of foreign investors. In addi
tion, most foreign affiliates are majority owned. For example, in 2004,
MOFAs accounted for 86 percent of the employment by all nonbank for
eign affiliates.
Raymond J. Mataloni Jr. and Daniel R. Yorgason, “Operations of U .S .
Multinational Companies: Preliminary Results From the 2004 Benchmark
Survey,” S u r v e y o f C u r r e n t B u sin e ss 86 (November 2006): 37-68. For more
information on the benchmark survey, see the appendix to that article.
2. The full release is accessible on BEA’s Web site at <www.bea.gov/bea/
newsrelarchive/2006/rdspend06.htm>. An article 3 months later discusses
the same topic: Sumiye Okubo, Carol A. Robbins, Carol E. Moylan, Brian
K. Sliker, Laura I. Schultz, and Lisa S. Mataloni, “BEA’s 2006 Research
and Development Satellite Account: Preliminary Estimates of R&D for
1959-2002 and Effect on GDP and Other Measures,” S u r v e y 86 (December
2006): 14-44.
In 1999-2004, current-dollar R&D expenditures of
U.S. M NCs grew at an average annual rate o f 4 per
cent, to $179.9 billion in 2004 (table A, chart l ) . 5 This
rate o f growth for M N C s was about the same as the
rate o f growth for M N C value added. The roughly
equal growth rates reflects the offsetting effects o f (1)
an increase in the share o f M N C R&D expenditures
T
Highlights
3. A report examining the feasibility of this data link project is available
on BEA’s Web site at <www.bea.gov/bea/di/FinalReportpublic.pdf>.
4. Okubo, et al., 22-23.
5. Data on R&D expenditures are collected on both a performer basis and
funder basis in the benchmark survey. In the annual surveys, expenditure
data are only collected on a performer basis. Unless otherwise noted, in this
article, “R&D expenditures” are the expenditures for R&D that is per
formed by the MNC rather than for the R&D that is funded by the MNC.
This treatment is consistent with the performance-based estimates pub
lished by NSF and with the data from BEA’s annual surveys.
March 2007
23
S u r v e y o f C u r r e n t B u s in e s s
accounted for by foreign affiliates, whose R&D was
lower in relation to value added than that o f their par
ents, and (2) more rapid growth o f R&D expenditures
than o f value added for both U.S. parents and their for
eign affiliates.
O f the $179.9 billion in R&D expenditures o f U.S.
M N C s in 2004, 85 percent was accounted for by U.S.
parents and 15 percent was accounted for by their for
eign affiliates. The parents’ 85-percent share was
higher than their 73-percent share o f M N C value
added. The large R&D share o f U.S. parents partly re
flects the relative abundance o f U.S. scientific and tech
nical resources, including highly educated workers, in
the United States. It may also reflect U.S. com panies’
efforts to limit the diffusion o f their strategic technolo
gies in order to preserve their competitive position
am ong international companies. Also, because o f scale
economies in R&D and because information generated
by R&D in one location can often be shared with
far-flung operating units at low or zero marginal cost,
Table A. R&D Expenditures of Nonbank U.S. Multinational Companies for 1994,1999, and 2004
A ddenda
R & D p e r f o r m e d b y U .S . M N C s
R a tio o f U .S .- p a r e n t
M O FA s a s a
R & D e x p e n d i t u r e s to
U .S . p a r e n t s
M N C to ta l
M O FA s
p e r c e n t a g e o f M N C to ta l
R & D e x p e n d itu re s of
((c o lu m n 3 / c o lu m n
a ll U . S . b u s i n e s s e s
1)
x
100)
(p e rc e n t) '
( 2)
( 1)
(3 )
(4 )
(5 )
P e rce n t
M i l lio n s o f d o l l a r s
1994
103,451
91,574
11,877
76.6
11.5
F o r t h e m s e l v e s ...............................................................................................................................................
8 4 ,5 7 4
7 5 ,6 7 3
8 ,9 0 1
n .a .
1 0 .5
2.......................................................................................................................................................
1 8 ,8 7 6
1 5 ,9 0 0
2 ,9 7 6
n .a .
1 5 .8
F o r t h e F e d e r a l G o v e r n m e n t ..............................................................................................
n .a .
1 3 ,2 6 7
n .a .
5 9 .1
A d d e n d u m : P e r f o r m e d b y o t h e r s o n b e h a l f o f t h e M N C ............................................
7 ,1 0 5
5 ,5 6 1
1 ,5 4 4
n .a .
2 1 .7
12.6
T o ta l..............................................................................................
T ype:
For o th e rs
Ofwhich:
n .a .
1999
T o ta l..............................................................................................
144,435
126,291
18,144
69.1
F o r t h e m s e l v e s ..............................................................................................................................................
1 2 4 ,2 5 2
1 1 1 ,0 0 8
1 3 ,2 4 4
n .a .
1 0 .7
2.......................................................................................................................................................
2 0 ,1 8 3
1 5 ,2 8 3
4 ,9 0 0
n .a .
2 4 .3
T ype:
For o th e rs
Ofwhich:
F o r t h e F e d e r a l G o v e r n m e n t ..............................................................................................
n .a .
7 ,8 1 0
n .a .
3 4 .7
n .a .
A d d e n d u m : P e r f o r m e d b y o t h e r s o n b e h a l f o f t h e M N C ............................................
1 1 ,7 2 6
1 0 ,3 4 4
1 ,3 8 2
n .a .
11.8
15.3
2004
179,914
152,384
27,529
73.2
F o r t h e m s e l v e s ...............................................................................................................................................
1 6 6 ,3 3 0
1 4 1 ,8 7 7
2 4 ,4 5 3
n .a .
1 4 .7
3..................................................................................................................
4 ,3 1 3
1 ,8 3 5
2 ,4 7 9
n .a .
5 7 .5
F o r u n a f f i l i a t e d e n t i t i e s ...........................................................................................................................
9 ,2 7 0
8 ,6 7 3
597
F o r t h e F e d e r a l G o v e r n m e n t ..............................................................................................
n .a .
6 ,0 4 9
n .a .
2 9 .9
n .a .
A d d e n d u m : P e r f o r m e d b y o t h e r s o n b e h a l f o f t h e M N C ............................................
7 ,7 9 4
6 ,3 3 8
1 ,4 5 6
n .a .
1 8 .7
100.0
100.0
100.0
F o r t h e m s e l v e s ...............................................................................................................................................
8 1 .8
8 2 .6
7 4 .9
2.......................................................................................................................................................
1 8 .2
1 7 .4
2 5 .1
F o r F e d e r a l G o v e r n m e n t ........................................................................................................
n .a .
1 4 .5
n .a .
T o ta l..............................................................................................
T ype:
F o r a ffilia te d b u s i n e s s e s
Ofwhich:
Addenda
6 .4
P e rce n t
1994
T ype:
F o r o th e rs
Ofwhich:
1999
100.0
100.0
100.0
T ype:
86.0
8 7 .9
7 3 .0
2.......................................................................................................................................................
1 4 .0
12.1
2 7 .0
F o r t h e F e d e r a l G o v e r n m e n t ..............................................................................................
n .a .
6.2
n .a .
100.0
F o r t h e m s e l v e s ...............................................................................................................................................
F o r o th e rs
Ofwhich:
2004
100.0
100.0
F o r t h e m s e l v e s ...............................................................................................................................................
T o ta l...............................................................................................
9 2 .4
9 3 .1
F o r a f f i l i a t e d b u s i n e s s e s 3..................................................................................................................
2 .4
1.2
9 .0
F o r u n a f f i l i a t e d e n t i t i e s ...........................................................................................................................
5 .2
5 .7
2.2
F o r t h e F e d e r a l G o v e r n m e n t ..............................................................................................
n .a .
4 .0
n .a .
T ype:
Ofwhich:
88.8
n .a . N o t a v a ila b le
M O F A s , a f f ilia te d b u s i n e s s e s c o n s i s t o f t h e U .S . p a r e n t a n d a ll o t h e r f o r e ig n a f f ilia te s b e l o n g i n g t o t h e
1 . T h e s e e s t i m a t e s a r e c o m p u t e d u s i n g d a t a f r o m t h e N a t i o n a l S c i e n c e F o u n d a t i o n ’s W e b s i t e a t
s a m e U .S . p a r e n t .
< h t t p : / / w w w . n s f .g o v / s t a t i s t i c s / i n f b r i e f / n s f 0 7 3 0 4 / > .
M N C M u lt in a t io n a l c o m p a n y
2 . I n f o r m a tio n o f t h e p o r t i o n o f R & D p e r f o r m e d b y t h e M N C f o r a f f ilia te d a n d f o r u n a f f ilia te d e n t i t i e s
w a s s e p a r a t e l y c o l l e c t e d in 2 0 0 4 , b u t t h i s s p li t w a s n o t c o l l e c t e d in 1 9 9 4 a n d 1 9 9 9 .
3 . In t h e c a s e o f U .S . p a r e n t s , a f f ilia te d b u s i n e s s e s c o n s i s t
of
t h e i r f o r e ig n a f f ilia te s . In t h e c a s e
of
M O F A M a jo r ity - o w n e d f o r e ig n a f f ilia te
R & D R e s e a r c h a n d d e v e lo p m e n t
24
R&D Activities of U.S. Multinational Companies
it may be easier and more efficient for M N C s to
concentrate R&D activities in the United States rather
than som e other activities, such as production or dis
tribution.
The 15-percent share o f R&D expenditures ac
counted for by foreign affiliates was 2 percentage
points higher than in 1999 and 3 percentage points
higher than in 1994. The rise coincided with a general
rise in the importance o f foreign affiliates in U.S.M N C operations; the share o f M N C value added ac
counted for by foreign affiliates rose to 27 percent in
2004 from 23 percent in 1999. R&D also became more
broadly diffused am ong affiliates in 1999-2004. The
num ber o f affiliates participating in R&D as a share o f
Chart 1. R&D Expenditures of Nonbank U.S.
Multinational Companies, 1994-2004
B illio n s o f d o lla r s
P e r c e n t o f v a lu e a d d e d
U.S. Bureau of Economic Analysis
March 2007
all affiliates increased by more than a third, and the
number o f countries hosting R&D-perform ing affili
ates increased from 66 to 73 (for more information on
which entities perform R&D, see the appendix “R&D:
What Is It and Who Conducts It?” ).
Other key results o f the R&D activities o f U.S. m ul
tinational companies from the 2004 benchmark survey
include the following:
• The 4-percent average annual growth rate of R&D
expenditures in 1999-2004 was down from a 7-per
cent rate in 1994-99; the slower growth coincided
with lower value-added growth (4-percent average
annual growth in 1999-2004, com pared with 8-percent growth in 1994-99).
• R&D employment o f M N C s was 998,000 in 2004,
up from 770,000 in 1999.6 The average annual rate
o f R&D employment growth was 5 percent. U.S.
parents, with R&D employment o f 819,000,
accounted for 82 percent o f the total in 2004, com
pared with 84 percent in 1999.
• R&D by M N Cs was perform ed primarily, and
increasingly, for themselves. In 2004, 92 percent o f
R&D expenditures reflected work perform ed by the
parent or by the affiliate for themselves (“ownaccount” spending), up from 86 percent in 1999
and 82 percent in 1994.
• The share o f R&D perform ed under contract for
affiliated businesses— 2 percent— was relatively
small. Foreign affiliates perform ed more R&D
under contract for affiliated businesses than did
U.S. parents.
• U.S. parents accounted for 73 percent o f R&D
expenditures by all U.S. businesses in 2004, an
increase from the 69-percent share in 1999 but less
than the 77-percent share in 1994.
• R&D expenditures by foreign affiliates were highest
in the United Kingdom, Germany, and Canada.
Expenditures by foreign affiliates in these three
countries totaled $12.9 billion or 47 percent o f all
R&D spending by all affiliates. This share fell from
50 percent in 1999, reflecting an increase in the geo
graphic dispersion o f affiliates’ R&D.
The remainder o f this article is com posed o f two
sections and an appendix. The first section focuses on
the R&D expenditures and R&D employment o f U.S.
parents in 2004. The second section examines the R&D
expenditures and R&D employment o f their majorityowned foreign affiliates. The appendix provides addi
tional detail on the types o f activities included in R&D,
and compares selected characteristics o f M N C s that
conduct R&D with those o f M N Cs that do not.
6. In the text, employment data are rounded to the nearest thousand. In
the tables, they are rounded to the nearest hundred.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
R&D by U.S. Parents
In 2004, R&D expenditures by U.S. parents were
$152.4 billion, up from $126.3 billion in 1999. O f the
2004 total, $141.9 billion, or 93 percent, was own-account spending, $6.0 billion, or 4 percent, was for
projects funded by the Federal Government, $2.6 bil
lion, or 2 percent, was for projects funded by other unafflliated entities, and $1.8 billion, or 1 percent, was
spending for projects funded by the parents’ foreign af
filiates. The 93-percent share o f own-account spending
was 5 percentage points higher than in 1999 and 10
percentage points higher than in 1994. The declines in
non-own-account spending largely reflect declines in
the share o f federally funded R&D; the 4-percent
share was down from 6 percent in 1999 and 15 percent
25
in 1994.
Just as U.S. parents perform ed some R&D for oth
ers, they also had some R&D perform ed for them by
others. R&D perform ed for parents by others totaled
$6.3 billion. O f total R&D funded by M NCs, the share
perform ed by others was 4 percent, only half the share
in 1999.7 R&D performed by others typically supple
mented rather than replaced R&D perform ed by par
ents for themselves; only 11 out o f 2,267 parents had
7. The estimates of R&D expenditures of U.S. MNCs on a funder basis
follow financial accounting standards and are typically treated as an
expense on firms’ income statements. If a change were to be made to follow
the definitions underlying the R&D satellite account, R&D expenditures on
this basis would be capitalized, and the depreciation of the R&D stock
would be treated as an expense. This alternative treatment would raise the
estimates of value added by MNCs.
Multinational Companies and R&D: Other Issues
The benchmark and annual surveys of U.S. direct investment
abroad are the primary resources for assessing the size and
scope of research and development (R&D) activities of U.S.
multinational companies (MNCs). The main text of this article
addresses several basic issues related to MNCs and R&D, such
as the division of performance between U.S. parents and for
eign affiliates, parents’ performance relative to that of all U.S.
businesses, the geographic (for foreign affiliates) and industry
distributions of R&D performers, and the extent to which
MNCs perform R&D for others or fund R&D by others.
However, it leaves several other issues unaddressed.1 Some of
these other issues might be addressed by more detailed or
technical analyses of data collected in the benchmark and
annual surveys, and others might require data from other
sources or data that are not currently available. Several issues of
particular interest are grouped below according to whether
they relate to firm-level behavior and performance, measure
ment of R&D, or the effect of R&D on national economic per
formance:
R&D and the firm
• What factors lead an MNC to conduct R&D?
• Does R&D lead a company to grow more quickly than it oth
erwise would? How does R&D affect other measures of par
ent and affiliate performance, such as productivity and
profitability?
• Does R&D by a company’s competitors put it at a relative dis
advantage?
• How does an MNC determine whether to conduct its R&D
in the United States or abroad? If abroad, what determines
1. However, these other issues may have been (or may be currently being)
addressed by other research, but most of the questions listed continue to be
largely unresolved. For recent examples of research touching on some of these
issues, see United Nations Conference on Trade and Development, World
Investment Report2005: Transnational Corporations and the Internationalization
of R&D (New York and Geneva: United Nations, 2005), or Jerry Thursby and
Marie Thursby, National Academy of Sciences, National Academy of Engineer
ing, and Institute of Medicine, Here or There? A Survey o f Factors in M ultina
tional R& D Location (Washington DC: The National Academies Press, 2006).
the particular location? To what extent do factors such as
taxes or protection of intellectual property rights affect MNC
decisions on where within the MNC to locate the ownership
of R&D results?
• To what extent can U.S.-parent R&D spending complement,
or be substituted for, foreign-affiliate R&D spending?
• How does R&D by parents affect the productivity and other
measures of foreign-affiliate performance?
• To what extent are R&D findings shared with the various
entities of an MNC? Are the findings of parents more readily
shared than those of affiliates? Does the location of an affili
ate determine whether it receives R&D output from the par
ent or other affiliates or how much it receives?
Measurement of R&D
• How are R&D results valued by MNCs, and how should they
be valued by statistical agencies (for example, for use in satel
lite accounts)? Are market values available, or are cost-based
estimates the only option?
• To what extent, if any, should R&D capital be viewed as
accruing to R&D performers rather than, or in addition to,
R&D funders?
• To what extent should the lags and risks associated with R&D
affect the measurement of R&D capital?
• How quickly does R&D capital depreciate, and are there
important differences in depreciation rates over industries
and countries?
R&D and national performance
• What role does R&D by MNCs play in generating spillovers
(externalities) in the United States, in the host countries of
R&D-performing affiliates, or in the host countries of R&Dusing affiliates?
• Does the increasing share of R&D performed by foreign affil
iates imply that the United States is losing its comparative
advantage in R&D?
• What factors promote the selection of affiliates located in
low-wage host countries to perform R&D?
26
R&D Activities of U.S. Multinational Companies
R&D perform ed for them but were not themselves also
R&D performers.
U.S. parents constitute a m ajor portion o f all R&D
performance in the United States; in 2004, they ac
counted for 73 percent o f the R&D perform ed by all
U.S. businesses. The importance o f parents in R&D is
attributable partly to their industry distribution; for
example, parents account for a particularly large share
o f U.S economic activity in manufacturing, an indus
try sector with relatively high levels o f R&D. Size may
also contribute; companies with overseas operations
tend to be larger than other U.S. businesses. The share
o f U.S.-business R&D accounted for by parents rose
from that in 1999 but was still smaller in 2004 than in
1994. M N C s’ share o f R&D perform ed for the Federal
Government was much smaller— 30 percent o f all fed
erally funded R&D— and was smaller than it was in
1999 and 1994.
R&D expenditures: Industry distribution and
intensity
R&D by U.S. parents tends to be highly concentrated
in specific industries. This concentration partly results
from the definition o f R&D; R&D only includes certain
activities within the set o f all innovative or knowledgegenerating activities (see the appendix “R&D: What is
It and Who Conducts It?” ). Industry characteristics
March 2007
such as type o f product or industry maturity may also
be factors.
R&D expenditures in three industry sectors— m an
ufacturing ($120.9 billion), information ($14.0 bil
lion), and professional, scientific, and technical
services ($12.8 billion)— accounted for 97 percent o f
all R&D expenditures by U.S. parents in 2004 (tables B
and 1, chart 2). M anufacturing accounted for 79 per
cent o f all R&D expenditures. Within the three sectors,
R&D expenditures were unevenly distributed. In m an
ufacturing, three industries— chemicals, computers
and electronic products, and transportation equip
ment— accounted for 84 percent o f R&D expenditures,
well above their 48-percent share o f value added (chart
3). In information, R&D expenditures were concen
trated in publishing industries, mostly because o f the
software publishing subindustry. In professional, sci
entific, and technical services, they were concentrated
in computer systems design and related services.
The concentration o f U.S.-parent R&D expendi
tures in the three m ajor R&D-performing sectors
closely matched the concentration o f R&D o f all U.S.
businesses (95 percent).8 However, the distribution o f
parent R&D expenditures am ong these three sectors
8. The similarity of industry concentration is not surprising given U.S.
parents’ 73-percent share of R&D expenditures by all U.S. businesses.
Table B. R&D Expenditures of Nonbank U.S. Multinational Companies and All U.S. Businesses by Selected Industry of U.S. Parent, 200 4 1
R & D e x p e n d itu re s
[m i l l i o n s o f d o l l a r s )
M O FA s h a re of
M N C to ta l
U .S . p a r e n t s
R & D e x p e n d i t u r e s to
o f a ll U .S . R & D
R & D e x p e n d itu re s of
b u s in e s s e s
(p e r c e n t)
M O FA s
R a tio o f U .S .- p a r e n t
R & D e x p e n d itu re s
to ta l M N C
(m illio n s o f d o lla r s )
2
a ll U . S . b u s i n e s s e s
(p e r c e n t)
All industries 3..................................................................................
179,913
152,384
27,529
15.3
208,301
73.2
M anufactu rin g..................................................................................................
145,122
120,851
24,271
16.7
147,288
82.1
Ofwhich:
P e t r o l e u m a n d c o a l p r o d u c t s ............................................................................................................
1 ,3 2 6
1 ,2 5 1
75
5 .7
C h e m i c a l s ............................................................................................................................................................
4 7 ,2 7 4
4 0 ,2 7 0
7 ,0 0 4
1 4 .8
B a s i c c h e m i c a l s ................................................................................................................................
2 ,0 7 5
1 ,8 8 1
194
9 .4
10.8
Ofwhich:
1 ,6 0 3
(D)
7 8 .0
(D )
2 ,3 9 3
7 8 .6
2 ,0 9 6
1 1 4 .1
R e s i n s a n d s y n t h e t i c r u b b e r , f i b e r s , a n d f i l a m e n t s .......................................
2 ,6 8 1
2 ,3 9 2
289
P h a r m a c e u t i c a l s a n d m e d i c i n e s ......................................................................................
3 7 ,0 0 0
3 1 ,0 4 6
5 ,9 5 4
1 6 .1
3 1 ,4 7 7
9 8 .6
M a c h i n e r y ............................................................................................................................................................
6 ,6 5 6
5 ,7 8 0
876
1 3 .2
6 ,5 7 9
8 7 .9
C o m p u t e r s a n d e l e c t r o n i c p r o d u c t s ...........................................................................................
4 1 ,4 6 8
3 5 ,8 1 0
5 ,6 5 8
1 3 .6
4 8 ,2 9 6
7 4 .1
C o m p u t e r s a n d p e r i p h e r a l e q u i p m e n t ........................................................................
7 ,5 6 2
7 ,3 7 1
191
2 .5
5 ,7 3 4
1 2 8 .6
4 7 .5
Ofwhich:
210
E l e c t r i c a l e q u i p m e n t , a p p l i a n c e s , a n d c o m p o n e n t s .................................................
1 ,4 7 6
1 ,2 6 6
1 4 .2
2 ,6 6 4
T r a n s p o r t a t i o n e q u i p m e n t ....................................................................................................................
3 3 ,8 6 2
2 5 ,7 9 5
8 ,0 6 7
2 3 .8
(D )
M o t o r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s ...................................................
2 1 ,9 5 4
1 4 ,6 6 2
7 ,2 9 2
3 3 .2
1 5 ,6 7 7
Ofwhich:
(D)
9 3 .5
4 ,9 7 5
4 ,3 9 7
11.6
4 ,3 8 8
In fo rm a tio n .......................................................................................................
15,193
14,003
1,190
7.8
22,593
62.0
Professional, scientific, and technical services........................................
14,438
12,787
1,651
11.4
28,709
44.5
M i s c e l l a n e o u s m a n u f a c t u r i n g ..........................................................................................................
Ofwhich:
A r c h i t e c t u r a l , e n g i n e e r i n g , a n d r e l a t e d s e r v i c e s .........................................................
C o m p u t e r s y s t e m s d e s i g n a n d r e l a t e d s e r v i c e s ...........................................................
O th e r4................................................................................................................
(D)
578
(D)
91
1 0 ,0 8 7
8 ,6 8 9
(D)
1 1 ,5 7 5
9,711
4,743
417
8.1
3
3
0
0
R e t a i l t r a d e .........................................................................................................................................................
57
53
D S u p p r e s s e d t o a v o id d i s c l o s u r e o f d a t a o f i n d iv i d u a l c o m p a n i e s .
1 . In t h i s t a b l e , M O F A ’s R & D e x p e n d i t u r e s a r e c l a s s i f i e d b y t h e i n d u s t r y o f t h e i r U .S . p a r e n t . In t a b l e
2 , M O F A ’s R & D e x p e n d i t u r e s a r e c l a s s i f i e d b y t h e i r o w n in d u s t r y .
2 . D a ta a r e fro m
th e N a tio n a l S c ie n c e
F o u n d a t i o n ’s W e b s i t e a t < h ttp : / / w w w .n s f .g o v / s ta tis tic s /
i n f b r i e f / n s f 0 7 3 0 4 / >.
3 . “All i n d u s t r i e s ” i n c l u d e s a g r i c u l t u r a l i n d u s t r i e s in t h e b e n c h m a r k s u r v e y o f U .S . d i r e c t i n v e s t m e n t
a b r o a d . In N S F ’s s u r v e y o f a ll U .S . b u s i n e s s e s , a g r i c u l t u r a l i n d u s t r i e s a r e e x c l u d e d .
4.
4
4 ,2 6 5
1 3 .9
C o n s t r u c t i o n ......................................................................................................................................................
Ofwhich:
5,160
1 ,3 9 8
7 .0
100.2
2.1
7 5 .1
48.8
1 ,4 8 1
0.2
1 ,5 9 6
3 .3
“O t h e r ” in t h i s t a b l e is a c a t c h - a l l c a t e g o r y a n d d o e s n o t c o r r e s p o n d t o t h e “o t h e r i n d u s t r i e s ” c a t e
g o r y u s e d in o t h e r t a b l e s in t h i s a r t i c l e o r in o t h e r r e p o r t s o n t h e r e s u l t s f r o m B E A ’s s u r v e y s o f M N C s
b y in d u s t r y . “O t h e r ” a l s o i n c l u d e s a g r i c u l t u r a l i n d u s t r i e s f o r t h e s u r v e y o f U .S . d i r e c t i n v e s t m e n t a b r o a d
b u t n o t f o r t h e s u r v e y o f a ll U .S . b u s i n e s s e s . S e e f o o t n o t e 3 .
M N C M u lt in a t io n a l c o m p a n y
M O F A M a jo r ity - o w n e d f o r e ig n a f f ilia te
R & D R e s e a r c h a n d d e v e lo p m e n t
March 2007
27
S u r v e y o f C u r r e n t B u s in e s s
differed somewhat from that o f R&D expenditures by
all U.S. businesses. U.S.-parent R&D expenditures
were more concentrated in manufacturing (parents’ 82
percent o f all-U.S.-business R&D in manufacturing
was significantly higher than their 73-percent share at
the all-industries level) and were less concentrated in
inform ation (62 percent o f all-U.S-business R&D) and
in professional, scientific, and technical services (45
percent).
Am ong other industries, the proportion o f all-U.S.business R&D accounted for by U.S. parents varied
widely, ranging from close to zero (for example, in
construction) to over 100 percent (for example, in
computers and peripheral equipm ent).9 Parents’ R&D
spending was particularly notable, both in absolute
and relative terms, in pharmaceuticals and medicines
in chemicals manufacturing and in “m otor vehicles,
bodies and trailers, and parts” in transportation equip
ment manufacturing. In pharmaceuticals and m edi
cines, R&D expenditures accounted for 99 percent o f
the all-U.S.-business total, and in “m otor vehicles,
bodies and trailers, and parts,” parents’ spending ac
counted for 94 percent o f the all-U.S.-business total.
R&D expenditures relate to the accumulation o f in
tangible assets; charts 2 and 3 also show data on par
ents’ capital expenditures— that is, expenditures for
property, plant and equipment— which relate to the
accumulation o f tangible assets. The R&D expendi
tures o f U.S. parents were approximately half those of
their capital expenditures ($308.7 billion), but the size
o f R&D expenditures relative to capital expenditures
Chart 3. R&D Expenditures and Capital Expenditures
of Nonbank U.S. Parents, Selected Industries, 2004
R & D e x p e n d itu re s
C a p ita l e x p e n d itu r e s
Manufacturing
Chemicals
P h a rm a c e u tic a ls a n d
m e d ic in e s
Computers and electronic products
C o m p u te rs a n d p e rip h e ra l e q u ip m e n t
C o m m u n ic a tio n s e q u ip m e n t
9. Differences in industry classification and geographic coverage of the
BEA data for MNCs and the NSF data for all U.S. businesses may partly
explain instances in which the proportion exceeds 100 percent. For
instance, Puerto Rico is excluded in NSF’s surveys of R&D, but it is included
in BEA’s surveys of direct investment.
S e m ic o n d u c to rs a n d o th e r e le c tro n ic c o m p o n e n ts
A ll o t h e r s i n c o m p u t e r s a n d e l e c t r o n i c p r o d u c t s
Chart 2. R&D Expenditures and Capital Expenditures
of Nonbank U.S. Parents, 2004
Transportation equipment
M o to r v e h ic le s , b o d ie s a n d tr a ile r s , a n d p a r ts
> rta tio n e q u i p m e n t 1
|
R & D expenditures
C apital expenditures
Others in manufacturing
M anufacturing
A ll i n d u s t r i e s
■
H
i
Information
Inform ation
P u b lis h in g in d u s trie s
■
A ll o t h e r s i n i n f o r m a t i o n
Professional, scientific, and technical services
Professional, Scientific, and Technical Services
C o m p u te r s y s te m s d e s ig n a n d
re la te d s e rv ic e s
‘O t h e r ” p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
1
All other sectors
1
A ll o t h e r s i n p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
0
50
100
Billions of dollars
U.S. Bureau of Economic Analysis
10
20
150
30
40
50
Billions of dollars
1. “O th er” refers to a specific industry in table 1.
U.S. Bureau of Economic Analysis
60
28
R&D Activities of U.S. Multinational Companies
varied markedly across sectors. In both manufacturing
and professional, scientific, and technical services, U.S.
parents’ R&D expenditures exceeded their capital ex
penditures. In m ost other industries, however, R&D
expenditures were markedly smaller than capital ex
penditures.
Table 1 not only documents the industry concentra
tion o f parents’ R&D expenditures discussed above,
but it also provides information on the “intensity” o f
those expenditures— m easured as the ratio o f the level
o f R&D expenditures to the level o f value added.10 This
m easure allows the propensities o f firms in different
industries that conduct R&D to be examined, abstract
ing from differences in industry size (see also chart 4).
By this measure, the intensity o f U.S.-parent R&D ex
penditures was 7 percent.11
For the three m ajor R&D-perform ing industry sec
tors— manufacturing; information; and professional,
scientific, and technical services— parents’ R&D inten
sities were 12 percent, 5 percent, and 11 percent, re
spectively. Within manufacturing, intensities were
particularly high in semiconductors and other elec
tronic components (41 percent), communications
equipment (36 percent), pharmaceuticals and m edi
cines (33 percent), computers and peripheral equip
ment (30 percent), and m otor vehicles, bodies and
trailers, and parts (18 percent). In information, the in
tensity was particularly high in publishing industries
(22 percent, mostly due to the software publishing
subindustry). In professional, scientific, and technical
services, the intensity was particularly high in com
puter systems design and related services (20 percent).
Industry patterns o f U.S.-parent R&D expenditures
have changed since the 1999 survey. The share o f the
information sector in U.S.-parent R&D expenditures
10. This measure is also used by the NSF in many of its studies of R&D
and allows analysts to focus on the output originating in firms in a specific
industrial sector by subtracting the cost of services and materials purchased
from other firms in that sector or in other sectors. Nonetheless, other mea
sures of R&D intensity are also useful in the analysis of R&D, including the
ratio of R&D expenditures to sales, the ratio of R&D employment to total
employment, or either of these intensity measures computed just for R&Dperforming firms. Other measures may relate more closely to the results of
R&D, such as the number of patent applications or the number of patents
granted. In some cases, the conclusions reached may differ, depending on
the particular measure used.
11. An alternative measure of R&D expenditure intensity is shown in
table 1— the ratio of R&D expenditures to the value added of R&D-per
forming parents. Because a minority of parents (and affiliates) had R&D
expenditures, the ratio of expenditures to value added was substantially dif
ferent, at both the all-industry level and at the detailed-industry level,
depending on which of these two measures is used. Thus, this alternative is
useful in showing the impact of nonperformers on detailed industry and
higher level ratios. In the aggregate, this measure is nearly twice as high as
the measure discussed in the text (13 percent versus 7 percent), but for indi
vidual industries, its size relative to that of the measure discussed in the text
varies substantially. For example, it is only slightly higher in manufacturing
(13 percent versus 12 percent), but it is much higher in information (21
percent versus 5 percent), reflecting particularly high R&D intensity by a
number of software publishers.
March 2007
rose to 9 percent in 2004 from 5 percent in 1999, pri
marily because o f sharply higher spending by parents
in publishing industries. The share o f professional, sci
entific, and technical services rose to 8 percent from 7
percent. The share o f manufacturing fell to 79 percent
from 83 percent, primarily because o f a decrease in
spending by parents in transportation equipment (and
despite an increase in pharmaceuticals).
Overall, the R&D expenditure intensity for U.S. par
ents increased only slightly from 1999 to 2004— from
Chart 4. R&D Expenditure Intensities of Nonbank
U.S. Parents by Industry, 2004
Sectors
M a n u fa c tu rin g
I n fo r m a tio n
P r o f e s s io n a l, s c ie n tific , a n d te c h n ic a l s e r v i c e s
A ll o t h e r s e c t o r s
Selected industries
Manufacturing
Chemicals
P h a r m a c e u tic a ls a n d m e d ic in e s
Computers and electronic products
C o m p u te rs a n d p e rip h e ra l e q u ip m e n t
| C o m m u n ic a tio n s e q u ip m e n t
| S e m ic o n d u c to rs a n d o th e r e le c tro n ic c o m p o n e n ts
I A ll o t h e r s i n c o m p u t e r s a n d e l e c t r o n i c p r o d u c t s
Transportation equipment
M o to r v e h ic le s , b o d ie s a n d tr a ile r s , a n d p a r ts
“O t h e r ” t r a n s p o r t a t i o n e q u i p m e n t 1
Others in manufacturing
A ll i n d u s t r i e s
Information
P u b lis h in g in d u s trie s
A ll o t h e r s i n i n f o r m a t i o n
Professional, Scientific, and Technical Services
C o m p u te r s y s te m s d e s ig n a n d
re la te d s e rv ic e s
s c ie n tific , a n d te c h n ic a l s e r v i c e s
1
A ll o t h e r s ; i n p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
0
10
2 0
4 0
3 0
5 0
6 0
P e rc e n t
Note. E x p e n d i t u r e
in te n s it y is c o m p u t e d a s R & D e x p e n d i t u r e s d iv id e d b y v a lu e a d d e d .
1 . “O t h e r ” r e f e r s t o a s p e c i f i c i n d u s t r y in t a b l e 1 .
U.S. Bureau of Economic Analysis
March 2007
S u r v e y o f C u r r e n t B u s in e s s
6.6 percent to 6.9 percent. However, there were sizable
changes in intensity in several industries. In sem icon
ductors and other electronic components m anufactur
ing and in publishing industries, the intensity nearly
doubled. In “other” chemicals, in contrast, the inten
sity fell sharply.
R&D employment: Industry distribution and
intensity
R&D employment is one aspect o f M N C R&D activity
for which data are collected only in the benchmark
survey. U.S. parents employed 819,000 R&D workers
in 2004 (table 1). In conjunction with total R&D ex
penditures, this R&D employment total implies that
R&D spending per R&D employee was approximately
$186,000 (table C). In the industries with high inten
sity o f R&D expenditures, R&D spending per R&D
employee was particularly high in chemicals (approxi
mately $251,000), and it was particularly low in profes
sional, scientific, and technical services (approximately
$153,000).12
Industry distributions o f R&D employment were
similar to those o f R&D expenditures. Together, the
three m ajor R&D-performing industry sectors— m an
ufacturing (633,000 R&D employees), professional,
scientific, and technical services (84,000), and infor
mation (67,000)— accounted for about the same share
o f R&D employment (96 percent) as the share o f R&D
expenditures (97 percent).
In 2004, 4 percent o f U.S. parents’ employees
worked in R&D (this share can also be viewed as an
“intensity” as shown for 2004 in the right column o f
table 1). The share o f employees employed in R&D was
12.
For several industries with low intensities, spending per R&D
employee was below $153,000.
Table C. R&D Expenditures Per R&D Employee by
Selected Industry, 2004
[Dollars]
U .S . p a r e n t s
All indu stries....................................................................
186,129
M O FA s
153,518
M a n u f a c t u r i n g .....................................................................................................................................
1 9 1 ,0 8 0
1 5 4 ,4 5 5
C h e m i c a l s ........................................................................................................................................
2 5 1 ,2 4 3
2 3 3 ,0 1 9
2 8 4 ,5 1 8
Ofwhich:
P h a r m a c e u t i c a l s a n d m e d i c i n e s .................................................................
2 5 8 ,2 3 2
C o m p u t e r s a n d e l e c t r o n i c p r o d u c t s ......................................................................
1 7 9 ,7 8 6
1 3 2 ,7 0 7
C o m p u t e r s a n d p e r i p h e r a l e q u i p m e n t ....................................................
1 4 9 ,8 7 9
2 0 5 ,3 2 9
C o m m u n i c a t i o n s e q u i p m e n t .............................................................................
1 5 9 ,8 3 9
Ofwhich:
1 2 8 ,9 0 8
S e m i c o n d u c t o r s a n d o t h e r e l e c t r o n i c c o m p o n e n t s ...................
1 9 9 ,6 9 4
1 3 2 ,5 9 1
T r a n s p o r t a t i o n e q u i p m e n t ................................................................................................
1 6 8 ,6 5 6
1 3 7 ,3 5 9
M o t o r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s .....................................
1 7 0 ,4 3 2
1 3 8 ,3 0 3
O t h e r ...............................................................................................................................................
1 6 6 ,3 7 2
1 2 6 ,6 7 4
I n f o r m a t i o n ...........................................................................................................................................
2 0 8 ,8 0 6
1 7 9 ,3 0 0
Ofwhich:
P u b l i s h i n g i n d u s t r i e s ......................................................................................................
2 3 9 ,1 6 0
1 8 8 ,5 7 0
P r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s .................................................
1 5 2 ,7 0 0
1 3 9 ,3 9 6
C o m p u t e r s y s t e m s d e s i g n a n d r e l a t e d s e r v i c e s ................................
1 6 0 ,6 7 8
1 3 0 ,7 6 3
O t h e r ...............................................................................................................................................
1 7 9 ,0 3 6
1 5 5 ,8 1 2
Ofwhich:
M O F A s M a jo r ity - o w n e d f o r e ig n a f f ilia te s
R & D R e s e a r c h a n d d e v e lo p m e n t
29
relatively high in manufacturing (8 percent) and pro
fessional, scientific, and technical services (9 percent).
The combined share o f R&D employment by par
ents in the three major industry sectors increased, ris
ing 2 percentage points from 1999 to 2004. The share
o f parents in manufacturing rose to 77 percent in 2004
from 75 percent in 1999, and the share in information
edged up to just over 8 percent from just under 8 per
cent. However, the share o f parents in professional, sci
entific, and technical services edged down to 10
percent from 11 percent.
R&D by Foreign A ffiliates
In 2004, R&D expenditures by the foreign affiliates o f
U.S. parents was $27.5 billion, or 15 percent o f R&D
expenditures by M NCs. In 1999, affiliate spending was
$18.1 billion, or 13 percent o f M NC expenditures. In
2004, the intensity o f R&D expenditures by foreign af
filiates, at 3 percent, was less than the 7-percent inten
sity o f their parents. R&D expenditures o f foreign
affiliates were also small relative to their capital expen
ditures. The value o f the R&D expenditures o f foreign
affiliates was less than a fourth o f the value o f their
capital expenditures ($123.1 billion); for parents, the
value o f R&D expenditures was half o f that o f their
capital expenditures.
O f all the affiliate R&D performed in 2004, $24.5
billion, or 89 percent, was own-account R&D, $2.5 bil
lion, or 9 percent, was for affiliated businesses, and
$0.6 billion, or 2 percent, was for unaffiliated entities.
The affiliate share o f own-account R&D was a little
lower than the parent share (93 percent). It increased
16 percentage points from 1999 to 2004. The 9-percent
share o f R&D for affiliated businesses— consisting o f
the U.S. parent and other foreign affiliates o f the U.S.
parent— was substantially larger than the 1-percent
share o f parent R&D conducted for their foreign affili
ates. However, foreign affiliates may often benefit, di
rectly or indirectly, from the R&D conducted by their
parents, even if they are not funding or directing that
R&D work. In dollar terms, the $2.5 billion in R&D ex
penditures by foreign affiliates for affiliated businesses
exceeded the spending by U.S. parents ($1.8 billion)
for their foreign affiliates.13 R&D expenditures for affil
iated businesses were particularly high for foreign affil
iates in the publishing industry and in the computers
and electronics products manufacturing industry, es
pecially in computers and peripheral equipment and
in semiconductors and other electronic components.
As with U.S. parents, the 2004 R&D performed for
foreign affiliates by others ($1.5 billion) was less than
13. Information on R&D expenditures for affiliated businesses was col
lected for the first time on the 2004 benchmark survey, so no comparison
can be made with data for earlier years.
R&D Activities of U.S. Multinational Companies
30
the R&D perform ed for others by the affiliates ($2.1
billion). O f the total R&D funded by foreign affiliates,
6 percent was performed by others, compared with the
4-percent share o f parent-funded R&D perform ed by
others.
March 2007
Chart 5. R&D Expenditures and Capital Expenditures
of Nonbank Majority-Owned Foreign Affiliates, 2004
■
R & D
e x p e n d itu re s
C a p ita l e x p e n d itu r e s
R&D expenditures: Industry distribution and
intensity
By industry o f U.S. parent, foreign affiliates’ share of
M N C R&D expenditures was slightly higher in m anu
facturing (17 percent) than the 15-percent share o f all
industries (table B). Within manufacturing, the foreign-affiliate share o f M N C R&D expenditures was
particularly high in transportation equipment— espe
cially in m otor vehicles, bodies and trailers, and
parts— where the $7.3 billion o f expenditures repre
sented a third o f the M NC total.
By industry o f foreign affiliate, the three sec
tors— manufacturing; professional, scientific, and
technical services; and information— that accounted
for nearly all (97 percent) o f R&D expenditures by U.S
parents accounted for 95 percent o f R&D expenditures
by foreign affiliates (table 2, chart 5). Affiliates’ expen
ditures were highest in m anufacturing ($23.3 billion),
followed by professional, scientific, and technical ser
vices ($2.1 billion), and information ($0.8 billion).
M a n u fa c tu rin g
I n fo rm a tio n
I
P r o f e s s io n a l, s c ie n tific , a n d
te c h n ic a l s e rv ic e s
I
A ll o t h e r s e c t o r s
I
__________________ ___
0
2 0
4 0
6 0
8 0
B illio n s o f d o lla r s
Note.
D a ta a re
c la s s ifie d
a c c o rd in g
to th e
in d u s try o f th e fo re ig n
a ffilia te .
U.S. Bureau of Economic Analysis
Key Terms
The following key terms are used to describe U.S. multi
national companies (MNCs).1
U.S. multinational company (U.S. MNC). The U.S.
parent and its foreign affiliates. (In this article, an MNC is
defined as the U.S. parent and its majority-owned foreign
affiliates.)
U.S. parent. A person, resident in the United States,
that owns or controls 10 percent or more of the voting
securities, or the equivalent, of a foreign business enter
prise. “Person” is broadly defined to include any individ
ual, branch, partnership, associated group, association,
estate, trust, corporation, or other organization (whether
or not organized under the laws of any state), or any gov
ernment entity. If incorporated, the U.S. parent is the
fully consolidated U.S. enterprise consisting of (1) the
U.S. corporation whose voting securities are not owned
more than 50 percent by another U.S. corporation and
(2) proceeding down each ownership chain from that
1. For a more comprehensive discussion of the terms and the concepts
used to describe U.S. MNCs and their operations, see Raymond J. Mataloni Jr., “A Guide to BEA Statistics on U.S. Multinational Companies,”
S u r v e y 75 (March 1995): 38-55. Data on the operations of U.S. MNCs
cover the survey respondent’s fiscal year ending in the reference year of
the data.
U.S. corporation, any U.S. corporation whose voting
securities are more than 50 percent owned by the U.S.
corporation above it. A U.S. parent comprises the domes
tic operations of a U.S. MNC, covering operations in the
50 states, the District of Columbia, the Commonwealth
of Puerto Rico, and all other U.S. areas.
U.S. direct investment abroad. The ownership or
control, directly or indirectly, by one U.S. person of 10
percent or more of the voting securities of an incorpo
rated foreign business enterprise or the equivalent inter
est in an unincorporated business enterprise.
Foreign affiliate. A foreign business enterprise in
which there is U.S. direct investment, that is, in which a
U.S. person owns or controls (directly or indirectly) 10
percent or more of the voting securities or the equivalent.
Foreign affiliates comprise the foreign operations of a
U.S. MNC over which the parent is presumed to have a
degree of managerial influence.
This article focuses on the operations of majorityowned foreign affiliates of U.S. parents; for these affili
ates, the combined ownership of all U.S. parents exceeds
50 percent. In 2004, these affiliates accounted for 86 per
cent of the employment of all foreign affiliates of U.S.
MNCs, up from 84 percent in 1999.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
M anufacturing alone accounted for 85 percent o f total
foreign affiliate R&D expenditures. At a more de
tailed level, affiliates in one subindustry in m anu
facturing— m otor vehicles, bodies and trailers, and
parts— had R&D expenditures o f $7.2 billion, or 30
percent o f the all-industry total (chart 6).
In contrast to the parents’ R&D expenditures, affili
ates’ R&D expenditures in wholesale trade ($1.2 bil
lion) were larger than those in information, mainly
Chart 6. R&D Expenditures and Capital Expenditures
of Nonbank Majority-Owned Foreign Affiliates,
Selected Industries, 2004
R & D e x p e n d itu re s
C a p ita l e x p e n d itu r e s
Manufacturing
Chemicals
P h a r m a c e u tic a ls a n d m e d ic in e s
A ll o t h e r s i n c h e m i c a l s
Computers and electronic products
C o m p u te rs a n d p e rip h e ra l e q u ip m e n t
I C o m m u n ic a tio n s e q u ip m e n t
f
"
S e m ic o n d u c t o r s a n d o th e r e le c tro n ic c o m p o n e n ts
H BBBi
i
i
[A ll o t h e r s in c o m p u t e r s a n d e l e c t r o n i c p r o d u c t s
Transportation equipment
M o to r v e h ic le s , b o d ie s a n d tr a ile r s , a n d p a r ts
^ ^ ^ ^ ^ ^ ^ p o r t a t i o n
e q u ip m e n t1
Others in manufacturing
A ll i n d u s t r i e s
Information
P u b lis h in g in d u s trie s
A ll o t h e r s i n i n f o r m a t i o n
Professional, Scientific, and Technical Services
C o m p u te r s y s te m s d e s ig n a n d r e la te d s e rv ic e s
“O t h e r ” p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
0
5
10
15
20
25
30
B illio n s o f d o lla r s
Note . D a t a
a r e c l a s s i f i e d a c c o r d i n g to t h e i n d u s t r y o f t h e f o r e ig n a ff ilia te
1 . “O t h e r ” r e f e r s t o a s p e c i f i c i n d u s t r y in t a b l e 2 .
U.S. Bureau of Economic Analysis
because wholesale trade is a more im portant industry
for foreign affiliates than for their parents; this indus
try accounted for 15 percent o f foreign affiliates’ value
Availability of Data on
U.S. Direct Investment Abroad
BEA collects two broad sets of data on U.S. direct
investment abroad: (1) Financial and operating data
of U.S. multinational companies (MNCs) and (2)
international transactions and direct investment posi
tion data. The first data set provides a picture of the
overall activities of foreign affiliates and U.S. parent
companies, using a variety of indicators of their finan
cial structure and operations. The second data set cov
ers a foreign affiliate’s transactions with its U.S.
parent(s), focusing on the U.S. parent’s share, or inter
est, in its affiliate rather than on the affiliate’s size or
level of operations.1
The preliminary estimates of the worldwide re
search and development (R&D) activities of MNCs for
2004— one aspect collected among many in the finan
cial and operating data set—are presented in this arti
cle. Preliminary estimates related to other aspects of
the operations of MNCs for 2004 and final estimates
for 2003 were published in November 2006.2 These
estimates, along with more detailed estimates of MNC
R&D activities, are available on BEA’s Web site. The
estimates are based on the 2003 Annual Survey of U.S.
Direct Investment Abroad and the 2004 Benchmark
Survey of U.S. Direct Investment Abroad.
The final estimates of U.S. MNC operations for
1977 and for 1982-2003, along with international
transactions and direct investment position data, are
available in publications or in files that can be down
loaded for free from BEA’s Web site at
<www.bea.gov>. For more information on these
products and how to obtain them, go to
< www.bea.gov/bea/ai/iidguide.htm>.
BEA has also recently launched a free service on its
Web site that allows users to access interactively
detailed data on the operations of U.S. multinational
companies, on the operations of foreign-owned com
panies in the United States, and on other aspects of
U.S. direct investment abroad and foreign direct
investment in the United States. For an introductory
guide to this service, see Ned G. Howenstine, “Primer:
Accessing BEA Direct Investment Data Interactively,”
S urvey 86 (May 2006): 61-64.
1
A ll o t h e r s i n p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
31
1. Jennifer L. Koncz and Daniel R. Yorgason, “Direct Investment
Positions for 2005: Country and Industry Detail,” S u r v e y 86 (July
2006); and Jeffrey H. Lowe, “ U .S . Direct Investment Abroad: Detail
for Historical-Cost Position and Related Capital and Income Flows,
2003-2005,” S ur vey 86 (September 2006): 87-129.
2. Raymond J. Mataloni Jr. and Daniel R. Yorgason, “Operations
of U .S . Multinational Companies: Preliminary Results From the
2004 Benchmark Survey,” S u r v ey 86 (November 2006): 37-68.
32
R&D Activities of U.S. Multinational Companies
added, com pared with only 5 percent o f the parents’
value added. The R&D expenditures by wholesale
trade affiliates may also reflect secondary activities o f
these affiliates in industries, such as manufacturing,
that are more typically associated with R&D activity.
The concentration o f R&D expenditures is also evi
dent in the intensity o f R&D expenditures. Affiliates’
R&D intensity in manufacturing (6 percent) and in
professional, scientific, and technical services (5 per
cent) exceeded the 3-percent intensity at the all-industry level (chart 7). In all the other sectors, including
inform ation (with the next largest intensity o f 2 per
cent), intensities were less than 3 percent.
As noted, the 3-percent affiliate intensity at the all
industry level was less than the 7-percent parent inten
sity. Affiliate intensities were also generally lower at
more detailed industry levels. For example, in the
computers and electronic products manufacturing in
dustry, affiliate intensities for all but one subindustry
were less than 9 percent, but parent intensities for all
the subindustries shown in chart 4 were at least 21 per
cent.14
The industry pattern o f affiliate R&D expenditures
has changed since the 1999 benchmark survey. The
share o f these expenditures accounted for by m anufac
turing declined in 1999-2004, to 85 percent from 90
percent. The shares rose for wholesale trade; inform a
tion; and professional, scientific, and technical ser
vices. In information, shares roughly tripled (though
from a small base), rising to 3 percent in 2004 from 1
percent in 1999. In wholesale trade, shares were up by
over half.
The average intensity o f R&D expenditures o f for
eign affiliates increased only minimally (0.1 percentage
point) in 1999-2004. In information, however, the in
tensity increased 1.5 percentage points. At a more dis
aggregated level, in computers and electronic products
manufacturing, the intensity was up, particularly be
cause o f an increase in communications equipment.
Despite the small increase at the aggregate level, inten
sities for all o f the large R&D-performing sectors in
creased. The small increase in intensity at the aggregate
level may have partly reflected a shift in the sectoral
com position o f value added away from manufacturing,
which had the highest intensity in both 1999 and 2004,
and toward other sectors in which R&D was less signif
icant.15
14. The one exception, communications equipment, had an affiliate
intensity of 55 percent. Very high intensities such as this can result from sit
uations where value added— the denominator in the intensity calcula
tion— is unusually low, which might occur when startups constitute a large
segment of a particular industry. In such situations, the share of employees
in R&D may be a more informative intensity measure for many purposes.
15. Affiliates in manufacturing were responsible for 56 percent of foreign
affiliates’ value added in 1999 but for only 47 percent in 2004.
March 2007
As foreign affiliates’ share o f M NC value added in
creased from 1999 to 2004 (rising to 27 percent from
23 percent), so did their share o f the R&D activities o f
M N Cs in several industries.16 In particular, in both
information and wholesale trade, foreign affiliates’
shares o f M N C R&D expenditures were up strongly. In
16. Note that these shares differ from those shown in table B, because
affiliates are classified by their own industry, but, in table B, they are classi
fied by the industry of their U.S. paren t.
Chart 7. R&D Expenditure Intensities of Nonbank
Majority-Owned Foreign Affiliates by Industry
of Affiliate, 2004
Sectors
M a n u fa c tu rin g
In fo r m a tio n
■
P r o f e s s io n a l, s c ie n tific , a n d te c h n ic a l s e r v i c e s
A ll o t h e r s e c t o r s
Selected industries
Manufacturing
Chemicals
P h a r m a c e u tic a ls a n d m e d ic in e s
A ll o t h e r s i n c h e m i c a l s
Computers and electronic products
C o m p u te rs a n d p e rip h e ra l e q u ip m e n t
C o m m u n ic a tio n s e q u ip m e n t
S e m ic o n d u c to rs a n d o th e r e le c tr o n ic c o m p o n e n ts
in computers and electronic products
Transportation equipment
M o to r v e h ic le s , b o d ie s a n d tr a ile r s , a n d p a r t s
sr” t r a n s p o r t a t i o n e q u i p m e n t 1
Others in manufacturing
Information
P u b l i s h in g i n d u s t r i e s
A ll o t h e r s i n i n f o r m a t i o n
Professional, Scientific, and Technical Services
C o m p u te r s y s te m s d e s ig n a n d
re la te d s e rv ic e s
( “O t h e r ” p r o f e s s i o n a l : , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
1
[A ll o t h e r s ; i n p r o f e s s i o n a l , s c i e n t i f i c , a n d t e c h n i c a l s e r v i c e s
10
2 0
30
4 0
5 0
6 0
P e rc e n t
Note. E x p e n d i t u r e
in te n s ity is c o m p u t e d a s R & D e x p e n d i t u r e s d iv id e d b y v a lu e a d d e d .
1 . “O t h e r ” r e f e r s t o a s p e c i f i c i n d u s t r y in t a b l e 2 .
U.S. Bureau of Economic Analysis
March 2007
information, affiliates’ share o f R&D expenditures
more than doubled, growing to 5.7 percent from 2.3
percent.
R&D employment: Industry distribution and
intensity
In 2004, foreign affiliates had 179,000 R&D employees,
or 2 percent o f total employment by foreign affiliates.
These workers represent 18 percent o f all R&D workers
employed by M NCs. By industry o f affiliate, affiliates’
shares o f M NC R&D employment were particularly
high in wholesale trade (32 percent) and were particu
larly low in information (7 percent). R&D expendi
tures per R&D employee was approximately $154,000,
roughly $32,000 less than the $186,000 per employee
for parents (table C ).17 R&D spending per R&D em
ployee was particularly high in pharmaceuticals
($285,000) and was particularly low in com m unica
tions equipment ($129,000).
M anufacturing affiliates employed 151,000 R&D
workers, or 84 percent o f all affiliate R&D workers.
Within manufacturing, transportation equipment ac
counted for the most o f the employees— 56,000, or
nearly a third o f all R&D workers o f foreign affiliates.
The share o f R&D employment o f affiliates in m an
ufacturing declined in 1999-2004, to 84 percent from
88 percent in 1999, similar to the drop in these affili
ates’ share o f R&D expenditures. Like their shares o f
R&D expenditures, affiliates’ employment shares rose
in wholesale trade, information, and professional, sci
entific, and technical services.
At the aggregate level, R&D employment intensity
increased to 2.1 percent from 1.6 percent. That in
crease was larger than the increase in expenditure in
tensity. In manufacturing, R&D employment intensity
rose to 3.6 percent from 2.5 percent.
R&D expenditures: Geographic distribution
and intensity
O f the foreign affiliates’ $27.5 billion in R&D expendi
tures in 2004, $18.1 billion (66 percent) was by affili
ates in Europe, $4.9 billion (18 percent) was by
affiliates in Asia and Pacific, and $2.7 billion (10 per
cent) was by affiliates in Canada (table 3). Europe’s
leading position reflected both its relative importance
in production by foreign affiliates and its relatively
high R&D expenditure intensity (4 percent); among
m ajor regions, only the Middle East (11 percent) had a
higher intensity, reflecting R&D in Israel.
By country, the largest affiliate R&D expenditures
were in the United Kingdom ($5.5 billion), Germany
($4.7 billion), and Canada ($2.7 billion) (chart 8). Ex
penditures also exceeded $1.0 billion in France, Japan,
and Sweden. R&D expenditure intensities in all of
these countries except Canada were greater than the
Chart 8. R&D Expenditures and Capital Expenditures
of Nonbank Majority-Owned Foreign Affiliates,
Selected Countries, 2004
■
17. By comparison, average employee compensation for each worker was
$20,000 less for affiliates than for parents ($38,000 versus $58,000).
R & D
e x p e n d itu re s
C a p ita l e x p e n d itu r e s
United Kingdom
Germany
Canada
France
■
Japan
■
Sweden
■
Ireland
I
Switzerland
I
Israel
I
Italy
I
Singapore
I
Belgium
I
China
I
Netherlands
Australia
I
All other countries
0
33
S u r v e y o f C u r r e n t B u s in e s s
10
2 0
3 0
B illio n s o f d o lla r s
U.S. Bureau of Economic Analysis
4 0
50
34
R&D Activities of U.S. Multinational Companies
3-percent worldwide intensity (chart 9). Germany’s in
tensity was 6 percent, and Sweden’s was 14 percent.
Am ong the other countries shown in chart 8, intensi
ties were particularly high in Israel (35 percent) and in
Singapore, Switzerland, and China (5 percent in each).
In Israel, much o f the R&D expenditures were in com
puters and electronic products manufacturing— par
ticularly in computer and peripheral equipment and
com m unications equipment— and in professional, sci
entific, and technical services.
The shares o f R&D expenditures accounted for by
affiliates in Europe fell 1 percentage point to 66 percent
in 2004, and their share o f R&D employment fell 3
percentage points to 64 percent. Balancing the fall in
the European share, R&D expenditure shares o f C an
Chart 9. R&D Expenditure Intensities of Nonbank
Majority-Owned Foreign Affiliates, Selected
Countries, 2004
March 2007
ada and the M iddle East both rose slightly, to 10 per
cent and 3 percent, respectively.
The share o f R&D expenditures accounted for by af
filiates in the United Kingdom, the top R&D-performing country, fell 2 percentage points in 1999-2004, to
20 percent. Shares o f affiliates in Germany, France, and
Japan also fell. R&D activities became somewhat more
broadly dispersed during this period, as the combined
R&D expenditure share o f the top six R&D-performing countries— using the 2004 rankings— fell 7 per
centage points to 65 percent.
R&D employment: Geographic distribution
and intensity
For R&D employment, the 2004 ranking o f the top six
countries— the United Kingdom, Germany, Canada,
France, Japan, and Sweden— was the same as the rank
ing by R&D expenditures. However, Israel, with over
6,000 R&D employees, was seventh, ahead o f Ireland
and Switzerland. Israel also had the highest R&D em
ployment intensity (R&D employment as a share o f to
tal employment), 18 percent. Sweden’s employment
intensity (9 percent) was also relatively high.
A p p en d ix
R&D: W hat Is It and W ho C o n d u cts It?
R&D, as generally defined and as used in this article
covers many, but not all, innovative activities. This ap
pendix compares several popular definitions o f R&D
with a particular emphasis on the definition used in
this article. It then discusses the characteristics o f U.S.
M N Cs that conduct R&D.
R&D: What is it?
The Frascati M anual, one o f two international stan
dards for R&D statistics, provides the following basic
definition o f R&D:
Research and experimental development (R&D)
comprise creative work undertaken on a systematic
basis in order to increase the stock of knowledge,
including knowledge of man, culture and society,
and the use of this stock of knowledge to devise
new applications.18
Italy
■
Singapore
Belgium
■I
China
Netherlands
■
Australia
■
All other countries
10
2 0
3 0
4 0
5 0
6 0
Percent
Note. E xp enditure intensity is com puted as R & D ex penditure divided
by va lu e add ed.
U.S. Bureau of Economic Analysis
The Frascati M anual provides additional specific
guidance in identifying which activities constitute
R&D and which do not, and it includes the require
ment that R&D activities be classified as basic research,
applied research, or development. The other interna
tional standard is the System o f National Accounts 1993
18. Organisation for Economic Co-operation and Development (OECD),
Frascati M anual 2002: Proposed Standard Practice for Surveys on Research
and Experimental Development (Paris: OECD Publications, 2002): 30.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
(SN A ).19 Broadly, this standard differs from that in the
Frascati M anual by placing less emphasis on novelty or
the resolution o f scientific or technological uncertainty
and more emphasis on activities that result in products
being brought to market. The SNA definition o f R&D
includes some activities excluded by the Frascati defi
nition (for example, market research and quality con
trol) and excludes others included by the Frascati
definition (for example, activities that increase knowl
edge without affecting economic activity).
The National Science Foundation (NSF) is prim a
rily responsible for data collection on U.S. domestic
R&D, and in its surveys, it closely follows the Frascati
definition o f R&D.20 BEA has adopted the NSF defini
tion for its surveys o f M NCs. In practice, the defini
tions used in the NSF and BEA surveys are somewhat
more restrictive than the Frascati definition, focusing
on work in the natural sciences and engineering and
excluding work in the social sciences and humanities.
The three types o f R&D activities are described in
the instructions for BEA’s benchmark survey o f U.S.
direct investment abroad as follows:
Basic research is the pursuit of new scientific
knowledge or understanding that does not have
specific immediate commercial objectives, al
though it may be in fields of present or potential
commercial interest.
Applied research applies the findings of basic re
search or other existing knowledge toward discov
ering new scientific knowledge that has specific
commercial objectives with respect to new prod
ucts, services, processes, or methods.
Development is the systematic use of the knowl
edge or understanding gained from research or
practical experience directed toward the produc
tion or significant improvement of useful products,
services, processes, or methods, including the de
sign and development of prototypes, materials, de
vices, and systems.21
19. Commission of the European Communities—Eurostat, International
Monetary Fund, Organisation for Economic Co-operation and Develop
ment, United Nations, and World Bank, System o f National Accounts 1993
(Brussels/Luxembourg, New York, Paris, Washington, DC, 1993). The
revised SNA, due out in 2008, will likely recommend the capitalization of
R&D in satellite accounts, as noted in United Nations, “Report of the Inter
secretariat Working Group on National Accounts” (E/CN.3/2007/7, distrib
uted December 19, 2006). BEA recently released several different estimates
of the capitalized value of domestic expenditures on R&D, and demon
strated the effect of these estimates on GDP, in its R&D satellite account
(Okubo, et al.).
20. As noted, the Census Bureau collects the data on behalf of NSF.
21. The survey is available on BEA’s Web site at <www.bea.gov/surveys/
diasurv.htmX Data on the three types of R&D are not collected separately
in BEA’s surveys, but a breakout will be available for U.S. parents in the
forthcoming project linking BEA’s and NSF’s R&D data. For more informa
tion on the linking project, see the introduction to this article and foot
note 3.
35
R&D: Who conducts it?
R&D is perform ed by a subset o f U.S. parents and for
eign affiliates. However, these firms tend to be am ong
the largest in the M N C data set. Additionally, R&D
performance tends to be persistent (that is, individual
firms tend to maintain their status as R&D performers
or as nonperformers). The following details are based
on data from the 2004 benchmark survey o f U.S. direct
investment abroad and changes since the 1999 bench
m ark survey.
Incidence of R&D performance. Only about a third
o f U.S. parents, and an even smaller share o f foreign af
filiates, perform ed R&D in 2004.
• In 2004, 34 percent o f parents and 9 percent o f affil
iates perform ed R&D.
• Parents and affiliates both perform ed R&D in 17
percent o f M NCs, only parents perform ed R&D in
17 percent o f M NCs, and only affiliates perform ed
R&D in 3 percent o f M NCs.
• In manufacturing, 52 percent o f U.S. parents and 21
percent o f foreign affiliates perform ed R&D. Parents
and affiliates both performed R&D in 29 percent of
the m anufacturing M NCs, only parents perform ed
R&D in 23 percent, and only affiliates perform ed
R&D in 4 percent.
Size of R&D performers. R&D activity tends to be
concentrated am ong the larger firms. However, am ong
R&D-performing firms, a relation between R&D in
tensity and firm size is more difficult to confirm; the
differences in size am ong firms grouped by their R&D
intensities are small and may be positive or negative,
depending on the indicator used for size.
• The average value added o f R&D-perform ing par
ents was 232 percent o f the average value added o f
nonperform ing parents.
• O f R&D-performing parents, the average value
added o f the half with the highest R&D employ
ment intensities was 124 percent o f the average
value added o f R&D-performing parents with the
lowest intensities.22 However, m ost o f this differ
ence is attributable to the largest parents tending
to be high-intensity R&D performers; the differ
ence between the average value added o f lowintensity performers and high-intensity perform
ers substantially narrows when the top 1 percent
o f value-added-generating parents are excluded
22. R&D employment intensity is defined as R&D employment as a share
of total employment. R&D employment intensities are used here rather
than R&D expenditure intensities because the expenditure intensity calcu
lation uses value added in its denominator. Because value added— particu
larly at the firm level—can be very small (or negative) relative to R&D
expenditures, generating meaningful firm-level intensity comparisons is
difficult. Nonetheless, if expenditure intensities are used, the results are
similar.
36
R&D Activities of U.S. Multinational Companies
from the analysis.23
• Using a different indicator o f size— ranking by aver
age value-added percentile rather than average
am ount o f value added— the results change som e
what.24 By this alternative measure, R&D perform
ers ranked substantially above nonperformers, but
high-intensity performers were similar to lowintensity performers. Parents with no R&D were, on
average, in the 44th percentile o f value added. R&D
perform ing parents were ranked much higher on
average; high-intensity parents were in the 67th per
centile, and low-intensity parents were in the 69th. 25
• The average value added o f R&D-performing affili
ates was 436 percent o f the average value added o f
nonperform ing affiliates.
• The average value added o f R&D-performing affil
iates with high-intensity performance was 116
percent o f that o f R&D-performing affiliates with
23. “High-intensity group” (or variants of this term) refers to the half of
R&D performers with the highest R&D employment intensities, and “lowintensity group” refers to the half of R&D performers with the lowest R&D
employment intensities.
24. There are multiple similar, but not identical, definitions of percentile.
The value-added percentiles used here are constructed by ranking the par
ents according to their value added and dividing the set of parents into 100
groups, each with equal numbers of parents. The group consisting of the
parents with the highest levels of value added are in the 100thpercentile and
the group consisting of the parents with the lowest levels of value added are
in the 1st percentile.
25. Slightly more sophisticated calculations that excluded parents or affil
iates in industries with little R&D or that adjusted for parent or affiliate
industry (or that did both) did not considerably change the results.
March 2007
low-intensity performance. Like the parents, the
difference between the two groups is largely driven
by the top 1 percent of value-added-generating
affiliates.
•T h e average ranking by value-added percentile of
affiliates with no R&D employment was 25 points
less than that o f both affiliates with high R&D
employment intensities and affiliates with low
intensities.
Persistence of R&D performance. M N Cs that per
form R&D tend to continue performing; firms that do
not perform tend to continue not perform ing.26
• O f the M NCs that reported in both the 1999 and
2004 benchmark surveys, 33 percent perform ed
R&D in both years, 55 percent perform ed no R&D
in either year, 6 percent perform ed R&D only in
1999, and 7 percent perform ed R&D only in 2004.
• O f the U.S. parents that reported in both the 1999
and 2004 benchmark surveys, 31 percent perform ed
R&D in both years, 57 percent perform ed no R&D
in either year, 7 percent perform ed R&D only in
1999, and 5 percent perform ed R&D only in 2004.
26. The unit of observation is the MNC or the U.S. parent. Foreign affili
ates are not considered as units of observation because verifying the conti
nuity of a given affiliate from one benchmark survey to the next is more
problematic for an individual foreign affiliate than it is for an individual
parent or for a group of all affiliates of the same parent.
Tables 1-3 follow.
March 2007
37
S u r v e y o f C u r r e n t B u s in e s s
Table 1. R&D Expenditures, Employment, and Intensities of Nonbank U.S. Parents by Industry, 1999 and 2004
R & D i n te n s it y
(p e r c e n t)
R & D e x p e n d itu re s
R & D e m p lo y m e n t
( m il lio n s o f d o l l a r s )
(th o u s a n d s o f e m p lo y e e s )
2004
1999
2004
1999
R a tio o f R & D e x p e n d i t u r e s
R a tio o f R & D
R a tio of R & D
e x p e n d itu re s
to v a lu e a d d e d o f R & D -
e m p l o y m e n t to
to v a lu e a d d e d
p e r f o r m i n g U .S . p a r e n t s
to t a l e m p l o y m e n t
2004
1999
2004
1999
1999
2004
All industries.................................................
126,291
152,384
646.8
818.7
6.6
6.9
10.8
12.8
2.8
Mining.............................................................................
212
(D)
3.1
3.2
1.1
1.8
53
O t h e r ......................................................................................................................
159
(D )
447
0 .3
0.1
2.8
3 .1
0.6
1.6
(D)
O il a n d g a s e x t r a c t i o n ...............................................................................
Utilities...........................................................................
81
18
1.6
0.2
Manufacturing...............................................................
104,842
120,851
485.9
632.5
F o o d ........................................................................................................................
934
1 ,4 0 0
2 1 .7
1.7
(D )
2 .5
(D )
4 .9
1.6
0 .5
3 .1
1 .9
0.1
(*)
0.2
0.1
0.4
0.1
12.2
13.1
5.4
8.0
2.0
1.2
2.8
2.1
1.0
2.1
1.1
3 .4
2.1
0.8
11.3
12.0
9 .2
1 .9
1 .9
2.6
1.2
1.1
0.8
1 .5
0 .9
B e v e r a g e a n d t o b a c c o p r o d u c t s ..
501
452
2 .4
T e x t ile s , a p p a r e l , a n d l e a t h e r p r o d u c t s .......................................
275
102
2 .7
0.2
0 .9
0 .9
1.1
1 .4
9 .2
8.6
2.0
3 .2
3 .7
3 .3
5 .1
1.2
1.2
21.0
8.6
1.8
1.0
2.0
2.6
1.2
W o o d p r o d u c t s ..........................................
31
105
P a p e r .................................................................
1 ,4 7 8
1 ,3 3 6
P r in t in g a n d r e l a t e d s u p p o r t a c t i v i t i e s ........................................
129
220
1 .3
P e t r o l e u m a n d c o a l p r o d u c t s .........
990
1 ,2 5 1
8.1
7 .2
C h e m i c a l s .....................................................
2 8 ,1 9 8
4 0 ,2 7 0
1 1 2 .9
1 6 0 .3
1 ,6 2 7
1 ,8 8 1
1 2 .7
9 .5
B a s i c c h e m i c a l s ......................................................................................
3.8
(D)
2.8
1.2
2.1
1 .3
2 2 .9
2 1 .7
1 0 .4
9 .3
2 3 .4
10.6
1 .3
0 .9
1.1
0 .7
0 .7
0 .5
1.2
2.8
1.1
2 .9
3 .4
1 1 .5
1 7 .3
8 .7
7 .9
R e s i n s a n d s y n t h e t i c r u b b e r , f ib e r s , a n d f i l a m e n t s . . ..
2 ,7 8 4
2 ,3 9 2
1 3 .6
1 4 .9
1 4 .6
1 3 .2
1 4 .7
1 3 .2
1 0 .7
1 5 .8
P h a r m a c e u t i c a l s a n d m e d i c i n e s ...............................................
1 8 ,3 8 2
3 1 ,0 4 6
6 1 .2
120.2
3 2 .8
3 3 .0
3 2 .9
3 3 .2
1 7 .7
2 8 .2
S o a p , c le a n in g c o m p o u n d s , a n d to ile t p r e p a r a tio n s
1 ,9 5 7
2 ,5 8 4
9 .9
7 .4
10.8
12.2
1 1 .5
1 2 .5
6.8
6.6
O t h e r ................................................................................................................
3 ,4 4 9
2 ,3 6 8
1 5 .4
8 .3
1 5 .9
9 .8
1 6 .6
1 0 .7
6 .9
4 .9
P l a s t i c s a n d r u b b e r p r o d u c t s ..............................................................
1 ,0 3 1
925
8.2
6.8
2.2
4 .4
4 .0
4 .7
4 .4
2 .7
2.6
2 .7
3 .0
3 .2
3 .8
2 .9
2.2
1.6
3 .4
2 .7
2.1
1.6
2.6
3 .8
1 .9
1 .3
3 .0
N o n m e ta ll ic m in e r a l p r o d u c t s .............................................................
371
426
3 .2
P r i m a r y a n d f a b r i c a t e d m e t a l s ..........................................................
1 ,3 2 0
1,211
9 .7
P r i m a r y m e t a l s .........................................................................................
760
472
3 .8
1 3 .6
8.2
3 .3
1 .5
F a b r i c a t e d m e t a l p r o d u c t s ..............................................................
560
739
5 .9
5 .4
2 .4
1.8
2.1
M a c h i n e r y ..........................................................................................................
5 ,2 5 2
5 ,7 8 0
3 4 .9
3 2 .2
1 0 .3
11.0
1 1 .4
1 1 .7
5 .2
5 .4
A g r i c u lt u r e , c o n s t r u c t i o n , a n d m in i n g m a c h i n e r y ........
1 ,3 4 0
1 ,7 2 2
7 .4
8 .3
10.6
1 2 .4
1 1 .3
1 2 .7
4 .8
6 .4
I n d u s t r i a l m a c h i n e r y ............................................................................
1 ,2 5 0
1 ,6 5 2
8 .7
5 .0
1 7 .8
2 4 .8
2 0 .3
2 8 .4
11.2
6 .4
O t h e r ................................................................................................................
2 ,6 6 2
2 ,4 0 5
1 8 .9
1 9 .0
8 .5
7 .6
9 .6
8.1
4 .3
4 .9
C o m p u t e r s a n d e l e c t r o n i c p r o d u c t s .............................................
3 0 ,2 9 8
3 5 ,8 1 0
1 3 2 .7
1 9 9 .2
2 8 .6
3 2 .3
2 9 .5
3 3 .3
1 3 .2
21.1
C o m p u t e r s a n d p e r i p h e r a l e q u i p m e n t ..................................
5 ,6 5 9
7 ,3 7 1
2 4 .5
4 9 .2
2 9 .0
2 9 .5
2 9 .6
2 9 .6
1 2 .9
2 3 .3
C o m m u n i c a t i o n s e q u i p m e n t ..........................................................
1 3 ,2 7 6
1 0 ,4 7 3
6 8 .7
6 5 .5
3 5 .5
3 8 .6
2 9 .7
A u d io a n d v i d e o e q u i p m e n t ...........................................................
407
433
2.1
S e m i c o n d u c t o r s a n d o t h e r e l e c t r o n i c c o m p o n e n t s ...
8 ,9 9 7
1 2 ,3 6 9
2 5 .9
6 1 .9
9 .8
1 9 .7
N a v i g a t i o n a l , m e a s u r i n g , a n d o t h e r i n s t r u m e n t s ..........
1 ,5 7 9
(D)
(D)
M a g n e t i c a n d o p t i c a l m e d i a ..........................................................
381
E le c t r i c a l e q u i p m e n t , a p p l i a n c e s , a n d c o m p o n e n t s ........
2 ,9 5 8
1 ,2 6 6
T r a n s p o r t a t i o n e q u i p m e n t ......................................................................
2 9 ,1 6 2
M o to r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s ................
1 7 ,5 1 3
O t h e r ................................................................................................................
1 1 ,6 4 9
F u r n i t u r e a n d r e l a t e d p r o d u c t s ..........................................................
M i s c e l l a n e o u s m a n u f a c t u r i n g .............................................................
Wholesale trade.............................................................
Ofwhich:
0.2
3 7 .8
20.8
1 8 .4
7 .5
1 9 .1
3 .7
1 0 .4
4 0 .7
2 4 .2
4 1 .7
7 .8
2 7 .0
2 5 .3
3 0 .3
9 .4
2 5 ,7 9 5
9 9 .7
1 5 2 .9
1 2 .3
1 4 ,6 6 2
6 2 .8
86.0
1 3 .3
1 1 ,1 3 3
3 6 .9
6 6 .9
106
4 ,3 9 7
(D)
1 3 .7
2 4 .0
11.1
1.2
8.1
26.3
17.0
5.0
1.6
1.1
(D )
(D)
2 8 .1
3 4 .9
(D)
(D)
(D)
Inform ation....................................................................
6,763
P u b l i s h i n g i n d u s t r i e s ...........................................................................
4 ,0 5 0
s u p p l i e s ...................................................................................................
Ofwhich:
T e l e c o m m u n i c a t i o n s ............................................................................
Finance (except depository institutions) and
insurance...................................................................
F i n 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 ......................................
S e c u rit ie s , c o m m o d ity c o n tra c ts , a n d o th e r
i n t e r m e d i a t i o n ....................................................................................
O t h e r f i n 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 .................
I n s u r a n c e c a r r i e r s a n d r e l a t e d a c t i v i t i e s ....................................
Professional, scientific, and technical services..........
2 ,6 3 5
(D)
1 5 .3
50.6
67.1
2.7
1 1 ,0 1 8
2 5 .1
4 6 .1
10.2
283
7 .3
1 1 .5
9 .3
3 .5
7 .5
1 .3
1 .4
1.2
0 .9
9 .3
12.1
1 .3
1 1 .5
4 .5
6 .7
(D )
2.9
2.1
(D)
(D)
(D)
6.6
0.6
(D )
0 .9
5.5
20.8
2.6
4 3 .5
7 .7
(D)
10.0
(D )
1 9 .4
(D)
5.4
2 1 .9
8 .9
20.0
3.8
1 4 .3
(D )
0.2
(D)
1.2
0 .9
(D)
3.4
0.7
2.7
8.2
0.3
1.0
(D)
(D)
0 .5
0 .3
9 .4
2.8
(D)
(D)
0.1
(D)
(D)
(D)
0.2
(D)
(D)
1.1
(D)
(D)
0.6
0
(D)
(D)
0.1
0.1
(D)
(D)
8.9
11.1
19.4
23.0
6.7
8.7
0 .7
0.6
20.0
2 .4
2 .7
0 .3
2 0 .3
22.1
1 1 .5
(D)
(D)
75
8,522
(D)
(D)
716
1,556
2
A g r i c u lt u r e , f o r e s tr y , f is h in g , a n d h u n t i n g .................................
(D)
(D)
(D)
(D)
0.1
167
12,787
68.1
83.7
(D)
(D)
580
1
8.5
n
(D)
53
(D )
0 .7
0.2
0.1
0.0
0.1
0.0
0.1
0.1
0.2
(*)
32
3
(D)
0
(D)
(D)
0
6
M a n a g e m e n t o f n o n b a n k c o m p a n ie s a n d e n te r p r is e s
0
0
(D)
H e a l t h c a r e a n d s o c i a l a s s i s t a n c e ..................................................
(D)
A c c o m m o d a t i o n a n d f o o d s e r v i c e s ...............................................
25
9
0 .3
A c c o m m o d a t i o n ......................................................................................
0
0
0 .0
F o o d s e r v i c e s a n d d r in k in g p l a c e s ..........................................
25
9
0 .3
M i s c e l l a n e o u s s e r v i c e s ...........................................................................
15
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000, fewer than 50 employees, or less than 0.05 percent (+/-).
R&D Research and development
(D)
(*)
1,028
R e n t a l a n d l e a s i n g ( e x c e p t r e a l e s t a t e ) ...............................
A d m in is tr a tio n , s u p p o r t , a n d w a s t e m a n a g e m e n t .............
5 4 .1
(D)
R e a l e s t a t e ..................................................................................................
26
(D)
0.2
(D)
(D)
3 ,4 2 7
(*)
(D)
8.2
5 .4
1 3 .9
9 .3
183
4 5 .1
R e a l e s t a t e a n d r e n t a l a n d l e a s i n g .................................................
4 .5
1 7 .9
350
8 ,6 8 9
R e ta il t r a d e ........................................................................................................
1 3 .1
1 9 .1
12.8
315
7 ,4 5 3
T r a n s p o r ta tio n a n d w a r e h o u s in g
4 .2
240
C o m p u t e r s y s t e m s d e s i g n a n d r e l a t e d s e r v i c e s ................
C o n s t r u c t i o n .....................................................................................................
7 .7
6 .4
5 .3
0.2
0 .4
Other industries............................................................
(D)
11.1
1 6 .4
8.6
0.2
91
O t h e r ......................................................................................................................
(D)
14,003
49
A d v e r t i s i n g a n d r e l a t e d s e r v i c e s .....................................................
1 1 .9
0 .5
A r c h ite c t u r a l, e n g i n e e r i n g , a n d r e l a t e d s e r v i c e s ................
M a n a g e m e n t , s c ie n t if i c , a n d t e c h n i c a l c o n s u l t i n g ............
(D)
0.2
(D)
(D)
10.2
12.8
7 .9
P ro fe s s io n a l a n d c o m m e rc ia l e q u ip m e n t a n d
P e t r o l e u m a n d p e t r o l e u m p r o d u c t s .........................................
3 .8
7 .4
3 8 .4
8 .5
90
2 .9
2 3 .0
2 3 .9
1 ,8 2 6
4,000
1 .7
2.6
2 .9
32
163
0.1
1 7 .7
(D)
(D)
4 .9
(*)
(D)
(D)
2 .5
9 .6
6.9
0.5
0.2
3.3
0 .4
0.2
1.8
0 .4
(D)
(*)
(*)
(*)
(D)
(D)
(D)
1 9 .1
(*)
(D)
0.1
0.0
0.1
0.0
(D)
0 .0
(*)
1.4
(D )
(*)
(D)
2 8 .7
0.2
(D)
1 1 .4
(D)
6.8
3.7
0.1
0.1
2.1
1.8
0.8
0.1
1.6
(*)
(D)
(*)
0.0
0.0
(D)
(D)
(D)
(*)
(D)
0.1
0.1
(*)
0.0
0.2
(D)
0.0
(D)
1 .3
0 .3
0 .2
0 .0
0 .0
0 .0
0 .0
0.1
0
0 .3
0 .2
2.0
7.3
0.2
1.0
(D)
(*)
0.2
0.0
(D)
(D)
1 5 .1
0 .5
(D)
0.0
(D)
4 4 .8
0.0
0.0
(D)
(D)
(D)
(D )
0.1
0.0
0.1
0.0
(*)
(*)
(*)
0 .0
(*)
0.1
(*)
(*)
(D)
(*)
0.0
(*)
0.0
(D)
0.1
(*)
0 .0
O
0.4
38
R&D Activities of U.S. Multinational Companies
March 2007
Table 2. R&D Expenditures, Employment, and Intensities of Nonbank Majority-Owned Foreign Affiliates by Industry, 1999 and 20041
R & D in t e n s i t y ( p e r c e n t )
R & D e x p e n d itu re s
R & D e m p lo y m e n t
(m il lio n s o f d o l l a r s )
(th o u s a n d s o f e m p lo y e e s )
1999
All industries.................................................
Mining......................
2004
e m p l o y m e n t to
p e rf o rm in g M O F A s
to ta l e m p lo y m e n t
1999
2004
2004
1999
3.2
3.3
9.2
11.0
1.6
2.1
8
0.1
0.1
0.2
0.1
0.1
0.1
0.1
1 .3
0.1
1.2
0.0
0.1
0.1
(*)
0.1
0.1
(*)
(*)
(*)
0.1
0.0
0.1
(*)
(*)
108.5
(*)
150.8
(*)
5.2
(*)
6.0
0.5
2.0
9.5
11.3
(*)
2.5
(*)
3.5
2.0
0.1
1.0
0.1
2.6
0.1
2.0
4
4
Utilities.....................
(*)
16,388
2
23,288
F o o d ........................................................................................................................
367
634
3 .3
3 .4
B e v e r a g e a n d t o b a c c o p r o d u c t s .......................................................
32
23
0 .3
0.2
T e x t ile s , a p p a r e l , a n d l e a t h e r p r o d u c t s .......................................
37
68
1
88
11
0 .4
0 .5
2
265
3
66
(*)
(*)
(*)
(*)
3 .1
3 .9
0.2
1.0
0.2
0 .9
0 .3
3 .7
5 .4
0 .3
0 .4
1.1
0 .3
0.1
0.2
O
1 .9
0 .7
3 .0
0.8
5 .9
1 .9
1 .4
0.6
0.0
0.1
0 .3
0 .7
1.0
9 .7
0.1
1.2
0 .3
43
0 .5
0 .4
0.1
C h e m i c a l s ........................................................
4 ,3 4 0
6 ,2 5 4
2 5 .4
2 6 .8
7 .4
0.1
8.2
B a s i c c h e m i c a l s ....................................
106
147
1 .5
1.2
1 .3
P e t r o l e u m a n d c o a l p r o d u c t s .............
2004
1999
R a tio o f R & D
179.3
4
P a p e r .....................................................................
to v a lu e a d d e d o f R & D -
123.5
O il a n d g a s e x t r a c t i o n ................................................................................
P r i n t i n g a n d r e l a t e d s u p p o r t a c t i v i t i e s .........................................
e x p e n d itu r e s
to v a lu e a d d e d
27,529
O t h e r .................................
W o o d p r o d u c t s .............................................
R a tio o f R & D e x p e n d itu r e s
18,144
8
3
Manufacturing................................................................
2004
1999
R a tio o f R & D
2.0
1.6
2.0
0 .3
0.2
1.0
1 1 .3
1 3 .6
4 .5
4 .8
3 .0
3 .0
1 .9
2.2
4 .7
173
242
3 .7
3 .9
4 .7
4 .6
5 .0
3 ,5 7 8
5 ,3 0 2
1 7 .1
1 8 .6
1 4 .0
1 5 .5
1 7 .3
2 0 .9
8 .5
S o a p , c l e a n i n g c o m p o u n d s , a n d t o il e t p r e p a r a t i o n s
135
186
1 .4
1 .9
1 .5
1.6
3 .0
4 .6
1.1
1 .4
O t h e r ................................................................................................................
348
377
3 .5
2 .7
3 .2
3 .0
5 .9
6.0
3 .0
2 .4
P l a s t i c s a n d r u b b e r p r o d u c t s ..............................................................
216
293
1 .9
2 .7
7 .5
4 .7
N o n m e t a l l i c m i n e r a l p r o d u c t s .............................................................
38
378
1 .7
2.2
0.6
6.6
4 .0
1 7 .0
P r i m a r y a n d f a b r i c a t e d m e t a l s ..........................................................
151
197
1 .4
1 .9
1 .3
3 .1
2 .5
R e s i n s a n d s y n t h e t i c r u b b e r , f ib e r s , a n d f i l a m e n t s . . ..
P h a r m a c e u t i c a l s a n d m e d i c i n e s ...............................................
P r i m a r y m e t a l s .........................................................................................
27
40
0 .3
0 .5
F a b r i c a t e d m e t a l p r o d u c t s ...............................................................
124
157
1.2
1 .4
2.6
1.0
1.2
0.6
1.6
M a c h i n e r y ............................................................................................................
748
791
6 .4
6 .7
A g r i c u lt u r e , c o n s t r u c t i o n , a n d m i n i n g m a c h i n e r y ........
168
230
1 .3
1 .5
I n d u s t r i a l m a c h i n e r y .............................................................................
216
118
O t h e r ................................................................................................................
364
443
C o m p u t e r s a n d e l e c t r o n i c p r o d u c t s ..............................................
3 ,7 7 3
5 ,2 8 3
C o m p u t e r s a n d p e r i p h e r a l e q u i p m e n t ..................................
356
479
C o m m u n i c a t i o n s e q u i p m e n t ..........................................................
2 ,4 0 3
3 ,1 7 9
A u d io a n d v i d e o e q u i p m e n t ............................................................
146
(D)
1.1
0 .9
0 .4
0 .4
4 .7
4 .0
3 .8
7 .2
7 .8
4 .7
4 .3
7 .3
7 .2
0.8
1.8
2.2
2.0
1 7 .1
3 .7
3 .4
1.1
9 .9
5 .5
3 .8
4 .1
2.8
10.0
3 .3
5 .3
7 .2
1 .5
1 .7
3 9 .8
1 3 .5
1 9 .1
22.1
3 .0
6.2
1 .3
2 .7
4 .0
2 4 .7
3 8 .3
5 4 .8
0 .5
4 3 .1
2 .3
(D)
6.2
4 4 .6
n .m .
1 3 .7
1 2 .7
0 .9
1 .7
6 4 .6
1 2 .9
1 9 .1
2 .4
1 .4
1.6
3 .0
(D)
1 ,0 5 7
5 .1
8.0
4 .8
7 .4
9 .5
500
1 .7
4 .1
0.0
0 .3
6.2
0.0
9 .5
(U )
551
(D)
12.0
0.0
3 .8
5 .5
2 .9
5 .2
5 .0
1 4 .0
1 6 .9
1 3 .8
1 6 .8
20.6
20.1
1 7 .0
1 9 .8
2 8 .8
E le c t r i c a l e q u i p m e n t , a p p l i a n c e s , a n d c o m p o n e n t s ........
214
T r a n s p o r t a t i o n e q u i p m e n t ......................................................................
5 ,6 6 9
7 ,7 4 1
3 5 .5
5 6 .4
M o to r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s ................
5 ,3 8 5
7 ,1 6 1
3 2 .7
5 1 .8
O t h e r .................................................................................................................
284
579
2.8
0.2
4 .6
2 .9
M i s c e l l a n e o u s m a n u f a c t u r i n g .............................................................
(D)
(D)
887
Wholesale trade.............................................................
515
1,205
4.0
272
724
2.0
0.1
Ofwhich:
1.1
1 .9
22.8
2.1
12.8
1.2
644
44
0.8
0.8
5 .1
224
F u r n i t u r e a n d r e l a t e d p r o d u c t s ..........................................................
1 .3
0.6
1 .9
N a v i g a t i o n a l , m e a s u r i n g , a n d o t h e r i n s t r u m e n t s .........
0
1.1
2 .5
0.6
S e m i c o n d u c t o r s a n d o t h e r e l e c t r o n i c c o m p o n e n t s ...
M a g n e t i c a n d o p t i c a l m e d i a ..........................................................
9 .2
11.6
11.6
11.0
2 .7
5 .2
(D)
(D)
7.9
9 .5
3 .3
6.1
(D)
0.0
3 .4
7 .5
1 .4
4 .1
2.2
6.0
4 .0
5 .8
6.8
9 .6
1 4 .7
4 .7
0 .5
1 .3
5 .9
(D)
(D)
10.0
1 .7
2 .9
0.7
1.0
5.0
7.7
0.6
1.1
5 .0
1.0
2.2
5 .3
(D)
(D)
0.8
0.2
0.8
(*)
2.3
8.8
1.8
1 .7
(*)
4.7
11.2
14.2
0.4
7 .0
0 .4
11.0
1 4 .2
1 .4
5 .4
1 2 .7
3 1 .1
(*)
0 .5
0 .4
P r o fe s s io n a l a n d c o m m e rc ia l e q u ip m e n t a n d
s u p p l i e s ....................................................................................................
P e t r o l e u m a n d p e t r o l e u m p r o d u c t s .........................................
(D)
Information.....................................................................
161
P u b l i s h i n g i n d u s t r i e s ...........................................................................
132
Ofwhich:
Telecom m unications..........................................................
1
(*)
843
781
42
1.2
0.8
(*)
4 .1
0 .4
2.6
(*)
Finance (except depository institutions) and
insurance...................................................................
1
1
0.0
F i n 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 ......................................
0
1
0.0
(*)
O
0.0
(*)
(*)
1
0
0.0
0.0
0.0
0.0
(*)
0.0
0.0
0.0
(*)
15.2
(*)
3.3
(*)
4.6
(D)
4 .7
1 .9
3 .5
(D )
7 .9
(D)
1 .5
(D)
(*)
n.m.
0.6
0.0
0.0
5 .5
0.0
(*)
(*)
0.0
0.0
5 .5
0.0
0.0
0.0
0.0
S e c u r it ie s , c o m m o d ity c o n tr a c ts , a n d o th e r
I n s u r a n c e c a r r i e r s a n d r e l a t e d a c t i v i t i e s ....................................
0
0
1
Professional, scientific, and technical services..........
1,040
(*)
2,120
A r c h i t e c t u r a l , e n g i n e e r i n g , a n d r e l a t e d s e r v i c e s ................
(D )
305
152
(D )
1 .3
888
2.6
0.1
0.0
6.8
0.8
0.0
i n t e r m e d i a t i o n .....................................................................................
O t h e r f i n 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 .................
C o m p u t e r s y s t e m s d e s i g n a n d r e l a t e d s e r v i c e s ................
M a n a g e m e n t , s c ie n t if i c , a n d t e c h n i c a l c o n s u l t i n g .............
A d v e r t i s i n g a n d r e l a t e d s e r v i c e s .....................................................
(D)
0
97
0
9.5
0.0
(*)
0.0
n .m .
22.3
0.0
0.0
(*)
14.0
7 2 .9
6 .4
1 7 1 .2
0.0
2.4
(D )
1 .7
0.1
0.0
O t h e r .......................................................................................................................
519
(D)
6 .3
1 5 .5
1 5 .7
9 7 .3
(D )
Other industries.............................................................
31
64
0.2
0.7
0.1
0.1
2.4
3.5
0.0
A g r i c u lt u r e , f o r e s tr y , f is h in g , a n d h u n t i n g .................................
5
(D )
0.1
0.0
0 .3
0 .9
(D )
0 .3
4 .2
(D )
6 .4
0.1
0.0
C o n s t r u c t i o n ......................................................................................................
R e ta il t r a d e .........................................................................................................
T r a n s p o r t a t i o n a n d w a r e h o u s i n g .....................................................
R e a l e s t a t e a n d r e n t a l a n d l e a s i n g .................................................
R e a l e s t a t e ...................................................................................................
R e n t a l a n d l e a s i n g ( e x c e p t r e a l e s t a t e ) ...............................
M a n a g e m e n t o f n o n b a n k c o m p a n ie s a n d e n te r p r is e s
(*)
1
0
1
0
1
16
982
8
4
(*)
2
0
2
(D )
5
A d m i n is tr a tio n , s u p p o r t , a n d w a s t e m a n a g e m e n t .............
0
H e a l t h c a r e a n d s o c i a l a s s i s t a n c e ..................................................
(*)
(*)
A c c o m m o d a t i o n ......................................................................................
0
n
F o o d s e r v i c e s a n d d r in k in g p l a c e s ..........................................
(*)
(*)
A c c o m m o d a t i o n a n d f o o d s e r v i c e s ...............................................
M i s c e l l a n e o u s s e r v i c e s ...........................................................................
8
0
0
7
* Less than $500,000, fewer than 50 employees, or less than 0.05 percent (+/-).
D Suppressed to avoid disclosure of data of individual companies.
n.m. Not meaningful
1. In this table, MOFA’s R&D expenditures are classified by their own industry. In table B, their R&D expendi-
(*)
0.0
(*)
0.1
(')
(*)
(*)
(*)
(*)
0.0
(*)
(*)
(*)
(*)
0.0
0.0
0.0
0.0
(*)
(*)
(*)
(*)
n .m .
(D )
0.0
(*)
0.1
0.0
(*)
(*)
0.0
(*)
0.1
0.1
0.1
0.0
(*)
0.0
(*)
0.1
(*)
(*)
0.0
n
0.2
1 1 4 .7
(*)
0 .4
1.6
0.0
1.6
0.0
(*)
O
(D )
0 .7
0 .3
1.0
0.0
0.1
0.0
0.1
0.0
2 3 .3
0.0
0.1
0.0
0.1
1.1
tures are classified by the industry of their U.S. parent.
MOFAs Majority-owned foreign affiliates
R&D Research and development
(*)
0 .5
1.1
n .m .
n
2 .9
0.0
6.6
1 .4
(*)
0.2
3 .4
0.0
1.1
0.0
1.1
0.0
0.0
(*)
0
3.2
(*)
3 .9
(*)
0.0
(*)
(*)
(*)
0.0
(*)
0.1
(*)
(*)
(*)
0.0
(*)
0.0
(*)
0.0
(*)
0.1
March 2007
39
S u r v e y o f C u r r e n t B u s in e s s
Table 3. R&D Expenditures, Employment, and Intensities of Nonbank Majority-Owned Foreign Affiliates by Country, 1999 and 2004
R&D intensity (percent)
R&D expenditures
(millions of dollars)
1999
R&D employment
(thousands of employees)
2004
1999
Ratio of R&D
expenditures
to value added
2004
1999
2004
All countries..............................................
18,144
27,529
123.5
179.3
3.2
Canada.......................................................................
1,681
2,702
7.9
18.4
Europe........................................................................
12,217
18,148
83.1
Austria
Belgium
Czech Republic.........................................................
Denmark
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Luxembourg..............................................................
Netherlands...............................................................
Norway......................................................................
Poland
Portugal
Russia
Spain
Sweden
Switzerland
Turkey
United Kingdom.........................................................
Other...... I ................................................................
82
375
6
57
59
1,452
3,377
6
13
251
504
0.6
2.2
0.1
0.5
0.5
10.8
25.3
0.1
0.2
1.3
3.8
0.7
3.8
0.2
0.1
0.1
1,036
231
6
4,000
1
134
628
20
143
106
1,854
4,693
8
25
876
727
101
533
33
38
9
17
327
1,525
868
12
5,462
14
613
882
9.0
366
26
288
4
6
394
23
340
9
4
0
2
14
1
6.3
0.3
5.4
(D)
Latin America and Other Western Hemisphere
South America..........................................................
Argentina...............................................................
Brazil....
Chile
Columbia
Ecuador
Peru ,,
Venezuela
Other....
Central America
Costa Rica
Honduras
Mexico..
Panama
Other.....................................................................
Other Western Hemisphere......................................
Barbados
Bermuda
Dominican Republic..............................................
United Kingdom Islands, Caribbean.....................
Other.....................................................................
Africa
(D)
374
26
34
14
1
(D)
(*)
2
40
(*)
240
2
0
238
(*)
(*)
6
(*)
1
1
4
0
5
1
(D)
(*)
(*)
(D)
(D)
0
(*)
1.8
1.7
1.5
(*)
27.7
0.1
(*)
0.1
(*)
2.1
2.6
6.8
9.9
0.8
1.7
113.8
3.8
9.6
12.0
2.4
0.8
2.4
2.4
2.8
0.5
1.9
2.6
3.9
5.5
0.6
1.1
1.7
2.3
9.8
15.1
5.1
11.4
11.0
8.9
11.6
3.0
3.4
3.9
8.9
(D)
5.7
0.9
10.1
4.1
n.m.
1.8
1.8
0.2
1.6
3.5
2.0
3.9
0.4
0.4
1.5
2.0
7.4
2.3
0.5
0.2
0.2
45.6
7.8
2.7
9.0
1.7
10.7
14.8
3.6
13.1
14.7
11.6
12.2
5.7
6.0
6.8
8.2
17.1
7.7
1.2
5.9
1.9
4.5
6.1
37.1
14.1
5.2
14.5
1.2
1.0
4.4
4.9
0.6
1.1
0.4
1.7
0.1
0.3
4.0
2.2
4.2
3.7
1.5
0.3
2.1
7.5
0.2
5.3
n.m.
0.0
5.3
1.0
1.0
6.1
n.m.
n.m.
26.1
3.6
0.0
3.6
1.0
4.7
3.2
0.8
0.0
1.6
3.7
0.7
1.0
0.3
1.5
0.1
0.3
0.5
0.3
0.7
(D)
0.3
0.1
0.0
0.3
0.0
0.8
0.9
10.5
32.6
(*)
(*)
4.7
5.9
0.8
4.1
(*)
(*)
(*)
(*)
2.3
8.6
4.1
(*)
33.5
(*)
8.3
5.1
(*)
4.6
(*)
(*)
0.0
2.7
(*)
0.0
3.3
O
(*)
(*)
(*)
(*)
0.0
0.0
(*)
(*)
0.0
0.2
(*)
3.0
(*)
(*)
(*)
n
0.0
(*)
0.0
0.0
O
n
n
826
(*)
2.6
(*)
(*)
n
6.4
389
824
2.6
6.4
(*)
(*)
(*)
n
0
18
36
3
0
14
1
(*)
30
2
Middle East................................................................
389
Israel.........................................................................
Saudi Arabia..............................................................
United Arab Emirates................................................
Other.........................................................................
Asia and Pacific.........................................................
Australia....................................................................
China
Hong Kong
India........
Indonesia..
Japan ......
Korea, Republic of
Malaysia...
New Zealand.............................................................
Philippines
Singapore.
Taiwan.....
Thailand...
Other.........................................................................
3
0.0
0.1
2004
1999
1.6
(*)
0.0
2.7
0.0
2004
1999
11.0
(*)
(D)
3.3
Ratio of R&D
employment to
total employment
9.2
0.1
0.4
0
1
Egypt
Nigeria
South Africa..............................................................
Other.........................................................................
n.m.
2.0
0.4
2.9
0.6
0.9
(D)
16.7
2.6
0.3
3.9
0.1
1&8
O
0.1
1.3
(*)
1.2
0.4
0.0
1.4
(*)
(*)
0.1
(*)
0.1
0.1
0.2
0.0
(D)
2.8
2.9
(D)
1.0
(*)
(D)
(D)
(*)
1.1
2.3
2.8
0.1
2.6
0.2
(*)
(*)
(*)
0.0
2.6
0.0
1.3
0.0
0.0
0.1
0.1
0.0
0.2
3.6
1.4
0.1
0.3
0.0
0.8
2.6
0.0
4.5
1.0
8.1
0.3
0.0
0.2
(*)
3.5
1.9
n
(*)
o
d
o
D
(*)
(*)
(*)
d
d
17.6
(*)
(*)
1.7
3.2
11.0
10.1
1.4
1.5
8.1
2.7
1.8
4.5
23.6
32.1
6.3
0.4
14.9
11.1
11.9
1.3
3.1
9.2
9.9
3.4
1.2
6.9
18.0
20.3
15.6
2.1
7.1
9.0
15.9
2.1
5.9
25.9
24.8
2.5
1.3
1.3
0.8
1.3
0.3
(*)
(*)
o
(*)
(*)
3.5
6.2
1.2
1.6
(D)
n
7.8
(*)
32.0
0
D
53.2
3.2
2.0
1.2
0.2
(*)
d
60.3
0.2
0.0
0.0
20.8
(*)
in
35.4
(*)
471
622
220
163
4
1,742
246
301
25
44
711
363
23
0.7
3.1
0.6
O
23.4
4,934
(D)
O
11.8
294
319
214
20
1
1,523
101
161
9
31
426
122
7
0.1
0.5
2.6
0.9
0.1
1.2
(*)
4.9
3,226
(*)
0
(*)
0
51.0
0.0
9.3
2.1
3.2
77
56.5
0.0
0.0
(*)
n
n
5.7
10.8
0.0
0.0
7.5
1.0
0
47
(*)
7.3
2
0
0
0
* Less than $500,000, fewer than 50 employees, or less than 0.05 percent (+/-).
D Suppressed to avoid disclosure of data of individual companies,
n.m. Not meaningful
(*)
Ratio of R&D expenditures
to value added of R&Dperforming MOFAs
(*)
5.0
3.1
3.4
0.4
1.1
4.3
2.0
0.2
(*)
MOFAs Majority-owned foreign affiliates
R&D Research and development
3.6
0.0
0.0
0.0
(*)
3.6
2.2
n
4.1
(D)
0.3
0.6
2.3
1.2
0.1
(D)
h
('*)
0
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42
March 2007
Research Spotlight
T h e Internal M arkets of M ultinational Firm s
By Mihir A. Desai, C. Fritz Foley, and Jam es R. Hines Jr.
HE rising economic importance o f multinational
firms has been accompanied by significant
changes in their structure and functioning. M ultina
tional firms, historically characterized as webs o f au
tonom ous subsidiaries spread across countries, now
represent globally integrated production systems serv
ing worldwide customers. These changes are manifest
in the rising significance o f intrafirm trade and finan
cial flows for these firms. While there is extensive anal
ysis o f aggregate patterns in intrafirm flows o f goods
and capital, few firm-based studies examine the work
ings o f the internal markets o f m ultinational firms,
largely because o f the difficulty in accessing the neces
sary data.
A num ber o f our recent projects investigated the in
ternal markets o f U.S. multinational firms. Our re
search demonstrates that internal market operations
represent a critical aspect o f firm responses to costly
external finance, capital controls, and currency fluctu
ations. Our research also shows that the changing na
ture o f internal markets has influenced how firms
operate and finance themselves around the world. An
im portant insight emerging from this research is that
firms use internal markets opportunistically, particu
larly in response to distortions in local markets. This
Research Spotlight summarizes this body o f work.
Our research is based on work conducted at the U.S.
Bureau o f Economic Analysis (BEA) through a special
program that provides access to the agency’s rich store
o f confidential firm-level data on multinational com
panies for analytical purposes (see the box “BEA Pro
gram for Outside Researchers” ). The firm-level data
T
Mihir A. Desai is an Associate Professor at Harvard Busi
ness School, C. Fritz Foley is an Assistant Professor at
Harvard Business School, and James R. Hines Jr. is a Pro
fessor o f Economics at the University of Michigan. Statis
tical work for the studies described here was performed at
BEA under a special program for outside researchers. (See
the box “BEA Program for Outside Researchers”) The
opinions expressed in this article represent the views of
the authors.
collected in BEA’s surveys o f international direct in
vestment are used by BEA to produce aggregated tabu
lar data on multinational-company operations for
release to the general public. In its benchmark and an
nual surveys o f U.S. direct investment abroad, BEA
collects the m ost comprehensive and reliable available
data on the activities o f U.S. multinational firm s.1
Several notable features o f BEA’s direct investment
abroad surveys distinguish them from other data
sources. First, BEA’s firm-level data include balance
sheets and income statements for all o f a multinational
firm’s affiliates, offering considerably finer firm-level
detail than the aggregated geographic or industry seg
ment data available through public financial records.
Also, aggregation in public financial statements and
the differential reporting standards o f firms in differ
ent countries can hinder com parisons across firms.
Second, the BEA filings provide details on intrafirm
transactions, such as intrafirm borrowing, intrafirm
dividends, and intrafirm trade. Without access to such
detailed information, previous studies were forced to
infer aspects o f intrafirm transactions (such as capital
reallocations across divisions) from observed out
comes. The variety o f operating information for parent
companies and their affiliates also allows for analysis
that controls for a variety o f potentially confounding
factors.
This rich data source creates two distinct research
opportunities. First, new insights regarding financing
and operating decisions can be obtained by analyzing
decisionmaking in different institutional settings. Sec
ond, examining the internal markets o f multinational
firms promises to generate new insights into how firms
structure their worldwide operations and how policies
can impact those decisions. The remainder o f this arti
cle summarizes our research on the internal markets o f
1. For a discussion of the most recent data collected, see Raymond J.
Mataloni Jr. and Daniel R. Yorgason, “Operations of U.S. Multinational
Companies: Preliminary Results From the 2004 Benchmark Survey,” S u r v ey
o f C u r r e n t B u sin e ss 86 (November 2006): 37-68. For general information
on the statistics that are available on U.S. multinational firms, see Raymond
J. Mataloni Jr., “A Guide to BEA Statistics on U.S. Multinational Compa
nies,” S u r v ey 65 (March 1995): 38-55.
March 2007
S u r v e y o f C u r r e n t B u s in e s s
multinational firms in the following areas:
• Ownership decisions
•W eak investor protection and shallow capital m ar
kets
• Dividend policies
• Capital controls
• Currency depreciations
O w n ership D ecisions
One o f the most fundamental decisions firms face
when expanding abroad is whether to organize foreign
operations as joint ventures or as wholly owned affili
ates. Multinational firms frequently have the option to
own 100 percent, majority, or minority shares o f for
eign entities. It is widely believed that the forces o f glo
balization make the use o f joint ventures particularly
attractive, but this presumption rests on aspects o f the
ownership decisions o f American multinational firms
that, until recently, were not rigorously examined.
“ The Costs o f Shared Ownership: Evidence From
International Joint Ventures” provides a comprehen
sive review o f U.S. overseas affiliate activity from 1982
to 1997, offering evidence that over time American
multinational firms have become less inclined to orga
nize their foreign operations as joint ventures. In
1982-97, the share o f all affiliates that were wholly
owned increased from 72 percent to 80 percent, and
the share o f minority-owned affiliates fell from 18 per
cent to 11 percent. Whole ownership affords the parent
BEA Program for Outside Researchers
Recognizing that some research requires data at a
more detailed level than that provided in its publicly
disseminated tabulations, the Bureau of Economic
Analysis maintains a program that permits outside
researchers to work on site as unpaid special sworn
employees of BEA for the purpose of conducting ana
lytical and statistical studies using the microdata that
it collects under the International Investment and
Trade in Services Survey Act.
This work is conducted under strict guidelines and
procedures that protect the confidentiality of company-specific data, as required by law. Because the
program exists for the express purpose of advancing
scientific knowledge and because of legal require
ments that limit the use of the data to analytical and
statistical purposes, appointment to special-swornemployee status under this program is limited to
researchers. Appointments are not extended to per
sons affiliated with organizations that collect taxes,
enforce regulations, or make policy.
43
company the ability to control the operation and des
tiny o f a foreign affiliate. The growing use o f whole
ownership suggests an increased appetite for control
by multinational parents, one that appears to be re
lated to rising costs o f employing the joint venture or
ganizational form.
We identify three sources o f rising costs to joint ven
tures by analyzing the factors that influence ownership
shares. First, joint ventures limit a firm’s ability to
structure its worldwide operations in a tax-efficient
manner. This is the inevitable byproduct o f divided in
terests, as joint venture partners are concerned with lo
cal profits while multinational parents are concerned
with the profits o f their global operations. Second, the
attractiveness o f transferring intellectual property to
overseas operations is reduced by the prospect o f p o
tential appropriation o f that technology by joint
venture partners. Third, the desire to decentralize
worldwide production through greater intrafirm trade
creates the potential for conflict with local partners
over sourcing decisions and transfer pricing. Because
multinational firms increasingly rely on worldwide tax
planning, global technology transfer, and production
decentralization, they face growing incentives to avoid
sharing ownership with local partners.
Wholly owned foreign affiliates o f U.S. companies
have considerably greater financial and commercial
ties to their U.S. parent companies than do partially
owned foreign affiliates. However, this cross-sectional
evidence that whole ownership is associated with close
coordination o f parent and affiliate activity does not
prove that ownership decisions are functions o f coor
dination costs. Another possibility is that both owner
ship and operational decisions are responses to other
unmeasured factors. In distinguishing these two inter
pretations o f the same evidence, we identify exogenous
changes in ownership levels and trace their effects on
intrafirm transactions. By principles o f symmetry (im
plied by the theory o f the firm), any effects o f owner
ship on intrafirm transactions should be mirrored by
equal effects o f intrafirm transactions on ownership
decisions. Our analysis examines two changes in gov
ernment policy that affected the relative costs o f shar
ing
ownership— the
liberalization
o f foreign
ownership restrictions and tax penalties on joint ven
tures featured in the U.S. Tax Reform Act o f 1986. Our
results indicate that affiliates operating in liberalizing
countries and firms whose joint ventures would be
subject to tax penalties after 1986 both engaged in
greater intrafirm transactions after the reforms.
These reactions imply that the increased desire to
coordinate parent and affiliate trade, technology trans
fers, and tax planning that has been evident over the
Research Spotlight
44
last 20 years contributed to the rising appetite for con
trol over worldwide operations. Our estimates imply
that between one-fifth and three-fifths o f the decline in
the use o f partial ownership by multinational firms
over the sample period is attributable to the increased
im portance o f intrafirm transactions. These findings
indicate that the forces o f globalization have dim in
ished rather than accelerated the use o f shared owner
ship.
W eak Investor Protection and
S h allo w C apital M arkets
Capital market conditions differ markedly around the
world. Som e countries offer legal protections and sup
portive regulation that produce liquid capital markets
o f the type found in the United States, whereas others
have legal structures or regulatory policies that pro
duce extremely shallow capital markets. These differ
ences influence the capital structure choices that firms
make. Empirical attempts to study these issues face sig
nificant challenges. Recent efforts using cross-country
samples o f local firms exploit the rich variation that in
ternational com parisons offer, but these efforts have
faced problems associated with nonstandardized m ea
surement across countries and limited statistical power
because o f small sample sizes. An alternative approach
is to analyze the financing choices o f local affiliates o f
multinational firms. This approach affords the pros
pect o f com paring the financing decisions o f affiliates
o f the same multinational firm operating in different
institutional settings. Furthermore, an analysis o f m ul
tinational firm responses to capital market conditions
illuminates the workings o f internal capital markets, as
multinational firms may be able to substitute internal
capital reallocations for external financing when it is
m ost costly.
In “A Multinational Perspective on Capital Struc
ture Choice and Internal Capital Markets,” we study
BEA’s firm-level data and find that both the level and
the com position o f leverage o f multinational affiliates
are strongly influenced by capital market conditions.
Analysis o f these data illuminates the mechanisms by
which weak capital markets affect external and internal
financing choices. Our findings indicate that interest
rates paid by U.S.-owned affiliates are significantly
higher in countries with underdeveloped credit m ar
kets and weak creditor rights. This interest-rate differ
ence very likely reflects the default prem ium that
lenders demand in countries where legal institutions
make it difficult or costly to use bankruptcy proce
dures to recover unpaid loans and the price premium
paid for capital in countries with thin capital markets.
In addition, the difference between the costs o f b or
March 2007
rowing from external lenders and parent companies is
larger for affiliates in these weaker institutional envi
ronments. In response to these differences, m ultina
tional firms borrow less from external sources and
more from internal sources in settings with weak credit
markets. These differences are manifest in a simple
comparison o f the internal and external borrowing de
cisions o f affiliates in countries where creditor rights
are very weak and very strong (chart 1). Regression
analysis indicates that greater internal borrowing off
sets approximately three-quarters o f the reduction in
external borrowing arising from adverse local credit
market conditions.
The tests in our paper control for other determ i
nants o f financing choices, including political risk, in
flation, and tax rates. Greater political risk is associated
with higher affiliate leverage. Higher inflation is associ
ated with more external borrowing and less internal
borrowing. Finally, higher corporate tax rates are asso
ciated with higher leverage. The analysis also reveals
that borrowing from parent companies responds more
sharply to tax rate differences than borrowing from ex
ternal sources, suggesting that firms are better able to
exploit internal capital markets than external capital
markets when structuring optim al financing in re
sponse to tax differences.
In general, we found that firms use internal capital
markets opportunistically when external finance is
costly and when there are tax planning opportunities.
Chart 1. Relationship Between Creditor Rights
and Types of Affiliate Borrowing, 1994
Percent
■ External borrowing to assets ratio
Borrowing from parents to assets ratio
■
«
C reditor rights index
equal to zero
S#
Creditor rights index
equal to four
N ote . T h is c h a r t p r e s e n t s t h e m e d ia n d e b t r a ti o s fo r a ff ilia te s in c o u n tr i e s w ith a c r e d ito r r ig h ts in d e x
o f z e r o o r fo u r. T h e r a tio o f b o r ro w in g f ro m U .S . p a r e n t s to a s s e t s is t h e r a tio o f n e t c u r r e n t lia b ilitie s
a n d lo n g - te rm d e b t b o r ro w e d fro m U .S . p a r e n t s to to ta l a s s e t s , a s m e a s u r e d in t h e 1 9 9 4 b e n c h m a r k
s u r v e y . E x te r n a l b o r r o w in g t o a s s e t s is t h e r a tio o f c u r r e n t lia b ili tie s a n d lo n g - t e r m d e b t b o r r o w e d
f ro m n o n p a r e n t s o u r c e s t o to ta l a s s e t s , a s m e a s u r e d in t h e 1 9 9 4 b e n c h m a r k s u r v e y . T h e c r e d i t o r
r i g h t s in d e x is f r o m R a f a e l L a P o r t a , F l o r e n c i o L o p e z - d e - S i l a n e s , A n d r e i S h l e i f e r , a n d R o b e r t
V ish n y , “L aw a n d F in a n c e ,”
JournalofPoliticalEconomy106
(1 9 9 8 ): 1 ,1 1 3 - 1 ,1 5 5 .
March 2007
The results suggest that internal capital markets may
give m ultinational firms an advantage over local firms
in countries with poorly developed credit markets. Lo
cal firms that borrow from external sources face high
costs o f debt in countries with shallow capital markets
or weak creditor rights. Although weak credit markets
also reduce external borrowing by multinational firms,
these firms can draw on resources from internal capital
markets to obtain needed financing.
D ividend Policies
Dividend payments from U.S.-owned foreign affiliates
to U.S. parent companies represent sizable financial
flows. In 1999, public U.S. corporations had after-tax
earnings o f $516 billion and paid $198 billion in divi
dends to com mon shareholders.2 In the same year, for
eign affiliates o f U.S. multinational firms had after-tax
earnings o f $182 billion and paid $97 billion to the
their parents as dividends. Indeed, the partial tax holi
day featured in the 2004 American lobs Creation Act
was motivated by the prospect that large dividend pay
ments from the foreign affiliates o f U.S.-owned m ulti
national firms would have favorable macroeconomic
consequences for the U.S. economy.3 “Dividend Policy
Inside the Multinational Firm” identifies three main
determinants o f dividend policy within the m ultina
tional firm: The taxation o f dividend income, domestic
financing and investment needs, and agency problems
inside firms.
Dividends include payments to multinational par
ent firms declared out o f the income o f foreign subsid
iaries, but they do not include flows related to invested
equity. Tax considerations alone would suggest that
dividend payments inside the firm would be irregular
and lumpy, since the tax implications o f dividend pay
ments often differ sharply between years, reflecting a
firm’s changing tax situation. However, dividend pay
ments from the foreign affiliates o f U.S. multinational
firms are regular and can be characterized by a process
o f partial adjustment that was first described by lohn
Lintner.4 Multinational firms behave as though they
select target payouts for their foreign affiliates, gradu
ally adjusting payouts over time in response to changes
in affiliate earnings. Dividends paid by affiliates rise by
roughly $0.40 for every additional dollar o f their after
2. Gustavo Grullon and Roni Michaely, “Dividends, Share Repurchases,
and the Substitution Hypothesis,” Journal of Finance 57 (2002): 1,6491,684.
3. For an assessment of the effects of this act on affiliate dividend pay
ments, see Ralph Kozlow and Patricia Abaroa, “U.S. Multinational Firms,
Dividends, and Taxes” (paper presented at the International Association for
Official Statistics, Ottawa, September 6-8, 2006).
4. John Lintner, “Distribution of Incomes of Corporations Among Divi
dends, Retained Earnings, and Taxes,” American Economic Review 61
(1956): 97-113.
45
S u r v e y o f C u r r e n t B u s in e s s
tax profits. Our regression evidence indicates that this
pattern o f persistent payouts is not an artifact o f other
regularized investment or financing decisions at the af
filiate level.
Further analysis presented in our paper provides ad
ditional evidence that tax minimization only partially
explains observed dividend policies; incorporated and
unincorporated foreign affiliates, which face sharply
differing tax consequences o f paying dividends, none
theless exhibit only m odest differences in their divi
dend policies. Similarly, some firms simultaneously
pay dividends and invest new equity in the same affili
ate, a practice that is hard to reconcile with tax m ini
mization.
Circumstances may lead parent companies to seek
cash dividends from their foreign affiliates to satisfy
domestic financing and investment needs. A simple
com parison o f multinational firms illustrates such a
motivation for dividend policies within multinational
firms. Chart 2 displays shares o f parent companies re
ceiving dividend payments from their foreign affiliates,
where parent companies are grouped according to
their ratios o f dividend payouts to external sharehold
ers (as a fraction o f after-tax earnings). The heights o f
the bars in chart 2 measure fractions o f parent com pa
nies receiving dividends from their affiliates. Parent
companies with the highest external dividend payout
ratios are the m ost likely to receive dividends from
their foreign affiliates. This simple association also ap
pears in a regression analysis that controls for various
confounding factors. Parent companies require cash to
pay dividends to external shareholders and foreign af
filiates often represent ready sources o f cash, ones that
Chart 2. Share of Parents Receiving
Dividends from Affiliates
P e rcen t
70
60
50
40
30
20
10
0
B o tto m
th ir d
M id d le th ir d
T o p th ir d
R a tio o f p a r e n t d iv id e n d s (to s h a r e h o l d e r s ) to p a r e n t n e t in c o m e
N ote . T h is c h a r t p r e s e n t s th e s h a r e o f U .S . p a r e n t s re c e iv in g d iv id e n d s fro m th e ir fo re ig n a ffilia te s g r o u p e d
o n t h e b a s i s of th e ir d iv id e n d p a y o u t ra tio (d iv id e n d s p a id to c o m m o n s h a r e h o l d e r s d iv id e d by n e t in c o m e ).
46
Research Spotlight
are particularly attractive to firms that would face high
costs o f raising funds externally. The analysis also re
veals that financially constrained parents in industries
with attractive investment opportunities are particu
larly likely to receive dividends from foreign affiliates.
Hence, it seems that dividend payments from foreign
affiliates are often used to satisfy parent company cash
needs.
Finally, dividend payments from foreign affiliates
appear to play a role in m onitoring the activities o f for
eign managers. Regular dividend payments can restrict
the financial discretion o f foreign managers, mitigating
whatever agency problems may exist within firms.
Conflicts o f interest between managers o f foreign affil
iates and managers o f parent companies are likely to be
m ost pronounced when the parent company owns
only a fractional share o f the affiliate, as other owners
may be tempted to transact with the affiliate at nonmarket prices. Consequently, parent companies have
incentives to require steady flows o f dividend pay
ments in order to limit the scope o f potential malfea
sance by foreign affiliates. Indeed, the evidence
indicates that regularized dividend payments are m ost
com m on when affiliates are partially owned, even
when such payments are explicitly tax penalized. This
finding suggests that at least some o f the regularization
o f dividend repatriations is a consequence o f control
considerations inside the firm.
The foreign affiliates o f U.S. multinational corpora
tions follow well-defined repatriation policies featur
ing gradual adjustment o f payouts to target ratios that
depend on current earnings and the tax costs o f repa
triating dividends. In addition to taxation, costly exter
nal finance and agency problems— motivations that
are typically emphasized with respect to arm ’s-length
financing decisions— also appear to influence the in
ternal capital markets o f multinational firms.
C apital C ontrols
Countries concerned about the economic instability
that may be associated with exposure to world capital
markets are often tempted to impose controls on
short-term international capital movements. These
controls can take many forms, and their effect on eco
nomic growth and firm performance is hotly debated.
Countries im posing capital controls are typically also
eager to attract foreign direct investment, but the p o
tential inconsistency o f attempting to control capital
movements while also attracting inbound foreign di
rect investment has hitherto received limited attention.
“Capital Controls, Liberalizations, and Foreign D i
rect Investment” analyzes the effects o f capital controls
March 2007
on the operations o f the foreign affiliates o f U.S. m ulti
national firms. Evidence indicates that foreign affiliates
located in countries im posing capital controls face
borrowing rates that average 5.25 percentage points
more than those faced by other affiliates o f the same
multinational parent companies.
Multinational firms operating in countries with
capital controls have incentives to use their internal
product and capital markets to mitigate the effects of
capital controls by limiting local profits that are subject
to such controls. Similar incentives are created by high
tax rates, and it is possible to compare the effects o f
capital controls with the effects o f high income tax
rates. Our results indicate that m ultinational firms dis
tort their reported profitability and their dividend re
patriations in order to mitigate the im pact o f capital
controls. Affiliates in countries im posing capital con
trols have 5.2-percent lower reported profit rates than
comparable affiliates in countries without capital con
trols, reflecting in part trade and financing practices
that reallocate income within a firm. The distortions to
reported profitability are comparable with those that
stem from a 27-percent difference in corporate tax
rates. Dividend repatriations are also regularized to fa
cilitate the extraction o f profits from countries im pos
ing capital controls.
Evidence o f the im pact o f removing capital controls
is consistent with the com parisons o f foreign affiliates
located in countries with and without capital controls.
U.S.-owned foreign affiliates in countries with capital
controls experience 6.9-percent faster annual growth
o f property, plant, and equipment investment after the
liberalization o f controls, indicating that capital con
trols impose significant burdens on foreign investors.
There is, however, no discernible effect o f the im posi
tion or removal o f capital controls on the volatility of
affiliate profitability or the volatility o f affiliate growth
rates. Hence, it appears that capital controls are re
sponsible for slow growth o f U.S.-owned affiliates, and
local reported profit rates significantly below those re
ported elsewhere.
C urrency D ep reciations
Settings where investment opportunities and financial
constraints move in identifiable ways provide valuable
opportunities to study the impact o f financial con
straints on firm growth. Because firms typically incur
some costs in local currency terms, currency deprecia
tions are hypothesized to provide improved invest
ment opportunities. Firms differ, however, in their
access to financial resources at the time o f the depreci
ation. A com parison o f the investment responses to
March 2007
S u r v e y o f C u r r e n t B u s in e s s
currency depreciations by firms with differential access
to financial resources can illustrate the degree to which
financial constraints can limit growth. This com pari
son, given its setting, can also help explain why hy
pothesized benefits o f depreciations are often not
manifest.
In the paper “ Financial Constraints and Growth:
Multinational and Local Firm Responses to Currency
Depreciations,” the effects o f sharp currency deprecia
tions on the behavior o f U.S.-owned affiliates and local
firms in the tradable sectors o f emerging markets are
com pared.5 The differential response o f local firms and
multinational affiliates is manifest in the simple com
parison provided in chart 3. In this chart, the bars rep
resent annual growth rates in assets in the year prior to
a sharp depreciation and subsequent years for local
firms and multinational affiliates. This basic difference
between local firms and multinational affiliates is ro
bust. Regression analysis demonstrates that U.S.owned affiliates increase sales 5.4 percent, and assets
7.5 percent, more than local firms after currency de
preciations. The improved relative performance o f
U.S.-owned affiliates is even more striking in invest
ment. Capital expenditures are 34.5 percent higher for
U.S.-owned firms than for local firms in the aftermath
o f large currency depreciations. Our analysis investi
gates the sources o f this distinctive performance, with
5. Unlike the other papers described in this spotlight, this paper was writ
ten by Mihir A. Desai, C. Fritz Foley, and Kristin J. Forbes. The other papers
were written by Mihir A. Desai, C. Fritz Foley, and James R. Hines Jr. See
the references.
Chart 3. Asset Growth of Local Firms and
Affiliates of Multinationals After Currency Crises
Percent
■ Affiliates
Local firms
■• ■
■*
2 years before
depreciation
Year of and 2 years
after depreciation
N ote . T h e tw o b a r s r e p r e s e n t th e a v e r a g e o f th e a n n u a l m e d ia n a s s e t g ro w th r a t e s fo r lo c a l firm s a n d
m u ltin a tio n a l a ff ilia te s .T h e first p a ir of b a r s a r e a v e r a g e s fo r t h e 2 y e a r s p rio r to a c u r r e n c y c ris is . T h e
s e c o n d p a ir o f b a r s a r e a v e r a g e s fo r th e y e a r of, th e y e a r a fte r, a n d
2y e ars
fo llo w in g a c ris is .
47
particular emphasis on the possible role o f differential
operating exposures and financing capabilities.
Differential changes in investment opportunities
could give rise to distinctive investment opportunities
for local firms and multinational affiliates. For exam
ple, multinational affiliates may export more o f their
output to countries with undepreciated currencies. In
order to consider this possibility, we compared multi
national and local firms with similar product and in
put market exposures. We also com puted measures of
the operating exposures o f firms in order to investigate
whether differences in operating exposures explain dif
ferences in the behavior o f U.S.-owned affiliates and
local firms.
Our tests offered little evidence that the relative
growth o f multinational affiliates after sharp currency
depreciations can be traced to differential investment
opportunities. Multinational affiliates that are more
reliant on exports prior to depreciations increase in
vestment by larger amounts, but affiliates that exclu
sively serve the local market increase investment by
considerably more than local firms. Large differences
in the investment responses o f affiliates and local firms
persist after including measures o f operating exposure
as controls.
Given the evidence on the opportunistic use o f in
ternal capital markets by multinational firms discussed
above, it is possible that a superior ability to overcome
financing constraints is the reason for the better post
depreciation performance o f U.S.-owned affiliates.
Tests reveal that financing constraints play a decisive
role in explaining the differential investment response
o f multinational affiliates and local firms. Following
currency depreciations, the leverage o f local firms in
creases more than the leverage o f multinational affili
ates, in part reflecting the tendency o f local firms to
borrow in foreign currency terms. Local firms with the
most leverage and with the shortest term debt reduce
investment the most. The examination o f the internal
capital markets o f multinationals shows that m ultina
tional parents provide additional financing in response
to sharp currency depreciations. These results indicate
that multinational firms overcome the negative conse
quences o f large depreciations by avoiding the financial
constraints that handicap local firms.
In addition to offering a test o f how financial con
straints influence investment, this evidence illustrates
an effect o f foreign direct investment not previously
emphasized. The internal capital markets o f m ultina
tional firms allow their affiliates to expand output after
severe currency depreciations, precisely when econo
mies are fragile and prone to severe economic contrac
Research Spotlight
48
tions. As a consequence, multinational affiliates may
be able to mitigate some o f the aggregate effects o f cur
rency crises. This analysis does not consider the longrun distributional consequences o f the differential im
pact o f currency crises on multinational affiliates. In
creased multinational activity during crises may help
support local firms through spillover effects, such as
increased dem and for local inputs or improved access
to technology or trade credit. However, multinationals
could also use crises to expand at the expense o f local
firms with potentially persistent effects. While the in
ternal capital markets o f multinational firms appear to
mitigate the contractionary output effects o f severe
currency depreciations, the longer term effects on local
firms remain an open question.
C onclusion
The data collected by BEA in its surveys o f interna
March 2007
tional direct investment provide a unique window on
the internal markets of U.S. multinational firms.
Our analyses o f BEA’s firm-level data reveal that the
increased importance o f internal capital markets has
reduced the use o f joint ventures; that multinational
firms respond opportunistically to cross-country dif
ferences in capital markets, capital controls, and taxes;
that the set o f factors that influence dividend payouts
by U.S.-owned foreign affiliates are similar to those
that influence dividends paid to external shareholders;
and that multinationals access their internal capital
markets to overcome financial constraints associated
with currency depreciations.
As more firms expand their global activities, BEA’s
work in collecting these data will become even more
critical to policymakers, business leaders, and others
seeking to make informed policy decisions and busi
ness choices.
R eferences
Mihir A. Desai, C. Fritz Foley and Kristen J. Forbes.
“ Financial Constraints and Growth: Multinational and
Local Firm Responses to Currency Depreciations”
Review o f Financial Studies (forthcoming).
Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
“Capital Controls, Liberalizations, and Foreign Direct
Investment,” Review o f Financial Studies 19, no. 4
(Winter 2006): 1,433-1,464.
---------. “ The Costs o f Shared Ownership: Evidence
From International Joint Ventures,” Journal of Finan
cial Economics 73, no. 2 (August 2004): 323-374.
---------. “Dividend Policy Inside the Multinational
Firm,” Financial Management (forthcoming).
---------. “A Multinational Perspective on Capital
Structure Choice and Internal Capital Markets,” Jour
nal of Finance 59, no. 6 (December 2004): 2,451-2,488.
March 2007
D-1
BEA Current and Historical Data
A selection of estimates from the national, industry, international, and regional accounts of the Bureau of Economic
Analysis (BEA) are presented in this section. BEA’s estimates are not copyrighted and may be reprinted without BEA’s
permission. Citing the S u r v e y o f C u r r e n t B u s i n e s s and BEA as the source is appreciated.
More detailed estimates from BEAs accounts are available on BEA’s Web site at < www.bea.gov>. These estimates are
available in a variety of formats. In addition, news releases, articles, and other information, including methodologies
and working papers, are available.
The tables present annual [A], quarterly [Q], and monthly [M] data.
N ational Data
A. Selected NIPA tables [A,Q]
1. Domestic product and income...............................D-2
2. Personal income and outlays.................................D-18
3. Government current receipts and expenditures .. D-21
4. Foreign transactions..............................................D-33
5. Saving and investment...........................................D-3 7
6. Income and employment by industry................. D-42
7. Supplemental tables............................................... D-43
B. NIPA-related table
B.l Personal income and its disposition [A, M ]..... D-46
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............ D-47
D. Charts
Selected NIPA series.................................................. D-51
Industry Data
E. Industry table
E.l Value added by industry [A]...............................D-57
International Data
F. Transactions tables
F.l U.S. international transactions in goods
and services [A, M ]...........................................D-58
F.2 U.S. international transactions [A, Q ]............... D-59
F.3 U.S. international transactions by area [Q]....... D-60
F.4 Private services transactions [A].........................D-63
G. Investment tables [A]
G.l U.S. international investment position............. D-64
G.2 USDIA: Selected items.........................................D-65
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies........................... D-66
G.4 FDIUS: Selected items.........................................D-67
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies...................... D-68
H. Charts
The United States in the international economy.....D-69
R egional 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
J. Local area table
J.l Personal income and per capita personal income
by metropolitan area [A]..................................D-74
K. Charts
Selected regional estimates.........................................D-79
A pp endixes
A. Additional information about the NIPA estimates
Statistical conventions................................................ D-81
Reconciliation table [A, Q ]........................................ D-82
B. Suggested reading ............................................... D-83
D-2
March 2007
National Data
A. S elected NIPA Tables
The selected set o f NIPA tables presents the m ost recent estimates o f gross domestic product (GDP) and its com
ponents, which were released on February 28, 2007. These estimates include the “preliminary” estimates for the
fourth quarter o f 2006 and revised estimates o f wages and salaries and o f affected income-side series for the third
quarter o f 2006.
The selected set presents quarterly estimates that are updated monthly. Annual estimates are presented in most
o f the tables.
The GDP news release is available on BEA’s Web site within minutes after the release. To receive an e-mail noti
fication o f the release, go to < www.bea.gov> and subscribe. The “Selected NIPA Tables” are available later that day.
1. Domestic Product and Income
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change in Real
Gross Domestic Product
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Gross domestic product. ..
1
Personal consumption
expenditures..........................
3.2
3.3
2
3.5
3.2
5 .5
5 .0
N o n d u r a b l e g o o d s ..............................
3
4
4 .5
S e r v i c e s .....................................................
5
2.6
6
5.4
4.2
7
7 .5
8
6.8
1.1
D u r a b l e g o o d s .......................................
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ...................................
N o n r e s i d e n t i a l .................................
S t r u c t u r e s ......................................
E q u ip m e n t a n d s o ftw a re
R e s i d e n t i a l ..........................................
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
L in e
2006
I
1.8
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
III
II
5.6
2.6
2.0
2.2
Percent change at annual rate:
2.6
2.8
4.2
- 0.1
6 .4
4 .4
Percentage points at annual
rates:
9
10
11
12
8 .9
8.6
4.8
- 1 2 .3
1 9 .8
3 .7
3 .9
5 .9
1 .4
1 .5
6.0
2.6
2.0
1.6
3 .7
2.8
3 .2
16.2
7.8
1.0
-0.8
-15.6
2 .9
2.8
8.2
1.6
-
- 8 .5
7 .3
5 .2
1 3 .7
1.2
10.0
8.8
6.6
12.0
2.8
8 .7
2 0 .3
1 5 .7
1 5 .6
- 1 .4
7 .7
- 3 .2
- 0 .9
- 0 .3
- 1 8 .7
- 1 9 .1
- 4 .2
-
4 .4
-
11.1
- 2 .4
-
0.8
6.8
8 .9
9 .6
1 4 .0
G o o d s .....................................................
15
7 .5
1 0 .5
1 1 .5
1 7 .3
16
5 .1
5 .4
5 .5
6 .7
I m p o r t s ........................................................
17
6.1
5 .8
1 3 .2
9 .1
G o o d s .....................................................
18
6 .7
5 .9
1 4 .1
9 .4
19
2.8
5 .3
0.9
2.1
1 .5
1 .7
S e r v i c e s ...............................................
Government consumption
expenditures and gross
investment..............................
F e d e r a l ........................................................
N a t io n a l d e f e n s e ............................
20
21
22
N o n d e f e n s e .......................................
23
1.1
S t a t e a n d l o c a l .......................................
24
0 .5
8 .3
-
7 .4
6.2
6.0
6.8
0.8
1 .4
5 .6
-
0.1
7 .1
-3 .8
9 .9
-
0.8
8 .5
1 5 .5
7 .1
1.7
3.3
4.9
2.0
- 4 .6
8.8
- 4 .5
1 .9
- 9 .9
8 .9
-
2.1
2.1
7 .1
8 .5
- 9 .3
6 .5
1.0
2 .7
4 .0
1 .9
4 .4
1 .3
-
2.2
2.6
-1.1
2.0
1 0 .5
9 .4
1.2
1 2 .3
-
10.2
2.6
3.2
3.3
II
1.8
5.6
0.53
3.38
III
2.6
IV
2.0
2.2
2
2.44
2.24
1.96
2.88
3
0 .4 5
0 .4 1
-1 .0 8
0.01
0 .5 0
0 .3 5
4
0 .9 0
0 .7 7
0 .7 9
1.20
0 .3 0
0 .3 2
1 .1 9
S e r v i c e s ......................................................
5
1 .0 9
1 .0 6
0 .8 3
0 .6 7
1 .5 2
1 .1 4
1 .3 4
0.17
-0.13
-2.78
-0 .1 9
-1 .4 3
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ...................................
6
1 .5 0
1.81
-
0.87
0.70
7
1 .1 7
0 .4 8
0 .4 6
1 .3 4
- 0 .2 7
8
0 .6 7
0 .7 4
0 .5 2
1 .3 6
0 .4 5
2.51
1.31
9
0 .0 3
0 .2 6
0 .3 1
0 .2 5
10
11
12
0 .6 4
0 .4 8
0.21
0 .5 0
- 0 .2 6
- 0 .0 6
1.11
- 0.02
- 0 .3 0
0.22
2 .0 5
- 0 .0 3
Net exports of goods and
services.................................
13
-0.26
-0.03
-1.07
E x p o r t s ........................................................
14
0.68
0 .9 3
0 .9 7
G o o d s .....................................................
15
0 .5 2
0 .7 6
0 .8 0
S e r v i c e s ................................................
0 .1 6
0 .1 7
0 .1 7
I m p o r t s ..........................................................
16
17
- 0 .9 4
- 0 .9 6
- 2 .0 4
- 1 .4 6
-0 .2 4
G o o d s .....................................................
18
- 0 .8 7
- 0 .8 2
- 1 .8 4
- 1 .2 7
0.01
S e r v i c e s ................................................
19
- 0 .0 7
- 0 .1 4
-
- 0 .1 9
- 0 .2 5
R e s i d e n t i a l ..........................................
6 .7
1
2006
I
N o n d u r a b l e g o o d s ..............................
E q u ip m e n t a n d s o f tw a r e
S e r v i c e s ...............................................
2005
D u r a b l e g o o d s .......................................
S t r u c t u r e s ......................................
1M
14
Personal consumption
expenditures..........................
N o n r e s i d e n t i a l ..................................
Net exports of goods and
E x p o r t s ........................................................
2006
IV
Gross domestic product....
0.8
2005
IV
C h a n g e in p r i v a t e i n v e n t o r i e s ...
Government consumption
expenditures and gross
investment..............................
F e d e r a l ..........................................................
N a t i o n a l d e f e n s e ............................
20
21
22
0.17
0.40
0.20
-0.21
1.01
-0 .2 6
0 .5 6
0 .4 6
-0 .0 3
0.10
0 .5 5
- 0 .2 4
1.20
- 1 .1 6
0 .4 4
0 .0 6
- 1 .3 5
-0.04
0.42
-0.19
1 .4 1
0.66
0 .7 3
1.20
0.21
0 .4 5
0 .7 1
0 .6 5
0.21
0 .0 3
0 .4 8
0.94
-
- 0 .7 2
-0 .9 3
-
1.00
0 .0 7
1.50
1 .1 3
0 .3 8
0 .5 6
- 0 .1 8
0.32
0.62
0.11
0 .1 4
- 0 .3 3
0 .6 1
- 0 .3 2
0 .0 9
0 .3 0
0 .0 8
0 .0 9
- 0 .4 9
0 .4 1
- 0 .0 9
- 0 .0 6
0 .5 4
- 0 .2 3
0 .1 5
- 0 .2 4
0 .4 8
0 .2 3
0 .3 2
N o n d e f e n s e .......................................
23
0 .0 3
0 .0 5
0 .1 6
0.20
S t a t e a n d l o c a l .......................................
24
0 .0 6
0 .2 6
0 .1 3
0 .3 3
0.16
-
March 2007
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
[Index numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
S e a s o n a lly a d ju s te d
2005
2006
2005
IV
I
II
III
IV
1
1 1 2 .5 4 6
1 1 6 .2 6 4
1 1 3 .7 1 9
1 1 5 .2 7 4
1 1 6 .0 0 4
1 1 6 .5 6 9
1 1 7 .2 1 0
L in e
Gross domestic product....
Personal consumption
expenditures..........................
2006
2005
2006
2005
IV
I
II
III
IV
1
1 1 2 .7 4 4
1 1 6 .0 6 1
1 1 4 .0 4 8
1 1 4 .9 6 7
1 1 5 .9 0 5
1 1 6 .4 4 6
1 1 6 .9 2 4
2
1 1 1 .4 9 3
1 1 4 .5 6 3
1 1 2 .8 7 3
1 1 3 .4 4 5
1 1 4 .5 7 3
1 1 5 .2 4 1
1 1 4 .9 9 1
L in e
Gross domestic product....
2006
2
1 1 6 .3 4 9
1 2 0 .0 5 7
1 1 7 .3 7 3
1 1 8 .7 6 1
1 1 9 .5 2 1
1 2 0 .3 5 5
1 2 1 .5 9 0
Personal consumption
expenditures.........................
D u r a b l e g o o d s .......................................
3
1 3 2 .6 6 6
1 3 9 .3 2 8
1 3 1 .7 9 9
1 3 7 .8 9 3
1 3 7 .8 6 8
1 4 0 .0 1 9
1 4 1 .5 3 0
D u r a b l e g o o d s .......................................
3
9 0 .1 9 8
8 8 .9 8 1
8 9 .6 0 6
8 9 .3 8 5
8 9 .2 0 6
8 8 .9 6 7
8 8 .3 6 6
N o n d u r a b l e g o o d s ..............................
4
1 1 6 .9 2 4
1 2 1 .3 0 8
1 1 8 .6 0 8
1 2 0 .3 1 3
1 2 0 .7 4 2
1 2 1 .2 0 4
1 2 2 .9 7 4
N o n d u r a b l e g o o d s ..............................
4
1 1 1 .5 3 0
1 1 4 .9 5 9
1 1 3 .1 7 7
1 1 3 .4 8 4
1 1 5 .7 6 9
1 1 6 .4 4 2
1 1 4 .1 4 1
S e r v i c e s .....................................................
5
1 1 2 .9 2 5
1 1 5 .8 1 0
1 1 3 .9 4 5
1 1 4 .3 9 8
1 1 5 .4 4 0
1 1 6 .2 3 4
1 1 7 .1 6 7
S e r v i c e s .......................................................
5
1 1 6 .5 2 9
1 2 0 .5 2 1
1 1 8 .2 8 1
1 1 9 .1 9 4
1 2 0 .0 5 9
1 2 0 .9 6 0
1 2 1 .8 6 9
6
1 0 7 .5 3 7
1 1 2 .0 7 9
1 1 1 .0 3 4
1 1 3 .1 4 3
1 1 3 .4 2 9
1 1 3 .2 1 5
1 0 8 .5 3 0
Gross private domestic
investment..............................
6
1 1 0 .2 8 4
1 1 3 .8 1 7
1 1 1 .8 5 3
1 1 2 .8 6 0
1 1 3 .7 1 7
1 1 3 .8 9 5
1 1 4 .7 9 8
7
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ..................................
N o n r e s i d e n t i a l .................................
S t r u c t u r e s .....................................
E q u ip m e n t a n d s o ftw a re
R e s i d e n t i a l ..........................................
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
1 0 9 .7 0 8
1 1 2 .9 0 1
1 1 1 .8 1 1
1 1 4 .0 3 3
1 1 3 .5 7 0
1 1 3 .2 4 0
1 1 0 .7 6 0
F i x e d i n v e s t m e n t ...................................
8
9 9 .3 2 6
1 0 6 .5 6 5
1 0 1 .3 0 8
1 0 4 .6 0 6
1 0 5 .7 3 8
1 0 8 .2 9 2
1 0 7 .6 2 3
N o n r e s i d e n t i a l ..................................
9
8 0 .3 0 2
8 7 .4 0 4
8 1 .1 7 4
8 2 .8 9 3
8 6 .8 1 9
9 0 .0 4 4
8 9 .8 6 0
S t r u c t u r e s ......................................
10
11
12
1 0 7 .1 8 0
1 1 4 .2 4 1
1 0 9 .6 5 3
1 1 3 .7 0 4
1 1 3 .3 1 3
1 1 5 .4 3 4
1 1 4 .5 1 4
1 3 6 .0 5 0
1 3 0 .3 4 4
1 3 8 .4 9 5
1 3 8 .3 9 1
1 3 4 .3 6 8
1 2 7 .6 0 1
1 2 1 .0 1 5
E q u ip m e n t a n d s o ftw a re
R e s i d e n t i a l ..........................................
C h a n g e in p r iv a t e i n v e n t o r i e s ...
Net exports of goods and
services.................................
13
E x p o r t s ........................................................
14
1 0 9 .1 0 5
1 1 8 .8 3 1
1 1 2 .0 5 4
G o o d s .....................................................
15
1 0 7 .5 0 7
1 1 8 .7 5 5
1 1 1 .0 2 7
Net exports of goods and
services.................................
7
1 1 0 .5 4 2
1 1 4 .1 6 1
1 1 2 .1 9 4
1 1 3 .2 3 8
1 1 4 .0 7 4
1 1 4 .2 2 4
1 1 5 .1 0 9
8
1 0 3 .4 2 8
1 0 6 .3 5 9
1 0 4 .5 1 0
1 0 5 .4 7 1
1 0 6 .2 6 6
1 0 6 .5 0 1
1 0 7 .1 9 8
9
1 3 4 .6 4 7
1 4 9 .9 6 7
1 4 1 .4 7 6
1 4 5 .6 8 4
1 4 9 .4 3 2
1 5 1 .3 7 2
1 5 3 .3 8 0
10
11
12
9 4 .1 3 4
9 3 .8 8 9
9 3 .7 5 4
9 3 .8 8 7
9 3 .9 2 0
9 3 .7 0 4
9 4 .0 4 6
1 2 6 .7 1 4
1 3 1 .7 7 4
1 2 9 .5 3 6
1 3 0 .7 6 5
1 3 1 .6 9 6
1 3 1 .6 5 5
1 3 2 .9 8 1
13
1 1 5 .7 8 3
1 1 7 .5 3 6
1 1 9 .4 9 5
1 2 2 .5 1 0
E x p o r t s ........................................................
14
1 0 8 .9 4 9
1 1 2 .5 4 0
1 1 0 .1 0 8
1 1 0 .7 3 7
1 1 2 .4 0 0
1 1 3 .6 3 1
1 1 3 .3 9 0
1 1 5 .5 3 5
1 1 7 .2 2 8
1 1 9 .8 9 8
1 2 2 .3 5 9
G o o d s .....................................................
15
1 0 7 .6 2 8
1 1 1 .1 5 6
1 0 8 .4 5 0
1 0 9 .1 9 2
1 1 0 .8 5 2
1 1 2 .2 8 6
1 1 2 .2 9 6
1 1 8 .4 6 3
1 1 8 .7 1 2
S e r v i c e s ...............................................
16
1 1 3 .1 1 8
1 1 9 .2 0 4
1 1 4 .6 9 3
1 1 6 .5 6 4
1 2 3 .0 7 7
S e r v i c e s ................................................
16
1 1 2 .1 1 5
1 1 5 .8 2 2
1 1 4 .0 8 0
1 1 4 .4 3 0
1 1 6 .0 9 8
1 1 6 .8 1 5
1 1 5 .9 4 3
I m p o r t s ........................................................
17
1 2 3 .0 0 7
1 3 0 .1 9 7
1 2 6 .3 7 7
1 2 9 .1 4 6
1 2 9 .6 0 8
1 3 1 .3 7 8
1 3 0 .6 5 4
I m p o r t s ..........................................................
17
1 1 1 .2 6 8
1 1 6 .0 4 8
1 1 4 .1 1 7
1 1 3 .9 1 8
1 1 6 .6 0 8
1 1 8 .1 4 3
1 1 5 .5 2 2
G o o d s .....................................................
18
1 2 4 .6 4 0
1 3 2 .0 4 2
1 2 8 .3 3 1
1 3 1 .2 3 6
1 3 1 .2 1 8
1 3 3 .5 0 3
1 3 2 .2 1 1
G o o d s .....................................................
18
1 0 9 .6 2 2
1 1 4 .5 2 8
1 1 2 .7 9 0
1 1 2 .3 3 1
1 1 5 .1 9 7
1 1 6 .8 2 4
1 1 3 .7 6 1
S e r v i c e s ...............................................
19
1 1 5 .1 7 0
1 2 1 .3 0 8
1 1 6 .9 5 4
1 1 9 .0 5 5
1 2 1 .8 9 6
121.100
1 2 3 .1 8 3
S e r v i c e s ................................................
19
1 1 9 .9 3 3
1 2 3 .9 6 4
1 2 0 .9 1 3
1 2 2 .2 4 2
1 2 3 .8 9 0
1 2 4 .8 7 6
1 2 4 .8 4 9
20
21
22
1 2 1 .1 8 3
1 2 6 .4 6 8
1 2 3 .4 4 4
1 2 7 .6 7 1
Government consumption
expenditures and gross
investment..............................
20
21
22
1 1 5 .6 5 7
1 1 6 .1 3 6
1 1 7 .0 7 3
Government consumption
expenditures and gross
investment..............................
1 2 5 .7 0 1
1 2 8 .1 7 4
1 2 6 .0 5 3
1 2 8 .7 2 8
1 2 7 .2 6 2
1 2 7 .6 6 9
1 2 9 .0 3 7
F e d e r a l ..........................................................
1 3 0 .5 9 3
1 3 3 .0 7 3
1 3 0 .0 0 2
1 3 2 .8 0 8
1 3 2 .1 4 1
1 3 1 .7 4 0
1 3 5 .6 0 5
N a t i o n a l d e f e n s e ............................
N o n d e f e n s e .......................................
23
1 1 6 .8 9 6
1 1 9 .3 6 4
1 1 8 .9 7 1
1 2 1 .4 1 1
1 1 8 .4 8 8
1 2 0 .3 7 0
1 1 7 .1 8 6
S t a t e a n d l o c a l .......................................
24
1 0 7 .6 6 0
1 0 9 .9 3 0
1 0 7 .9 5 4
1 0 8 .6 8 2
1 0 9 .7 6 2
1 1 0 .2 7 7
111.000
F e d e r a l ........................................................
N a t i o n a l d e f e n s e ............................
1 1 3 .7 3 1
1 1 6 .0 7 2
1 1 4 .0 4 8
1 1 5 .4 2 3
1 2 4 .7 9 1
1 2 6 .2 6 2
1 2 7 .1 5 0
1 2 0 .7 2 6
1 2 4 .8 9 1
1 2 1 .4 7 9
1 2 3 .7 2 1
1 2 4 .8 7 1
1 2 5 .4 8 2
1 2 5 .4 9 0
1 2 1 .8 5 5
1 2 6 .0 1 9
1 2 2 .7 6 0
1 2 4 .7 5 2
1 2 6 .0 0 6
1 2 6 .7 1 4
1 2 6 .6 0 3
N o n d e f e n s e .......................................
23
1 1 8 .6 0 6
1 2 2 .7 6 9
1 1 9 .0 5 9
1 2 1 .7 8 7
1 2 2 .7 3 6
1 2 3 .1 5 4
1 2 3 .4 0 0
S t a t e a n d l o c a l .......................................
24
1 2 1 .4 6 3
1 2 7 .4 1 1
1 2 4 .6 2 0
1 2 5 .4 3 4
1 2 7 .0 9 5
1 2 8 .1 4 7
1 2 8 .9 6 9
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[B illio n s o f d o l l a r s ]
[B i l l i o n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
L in e
2006
I
II
III
2005
2006
2005
1
1 1 ,0 4 8 .6
1 1 ,4 1 3 .6
1 1 ,1 6 3 .8
1 1 ,3 1 6 .4
1 1 ,3 8 8 .1
2
7 ,8 4 1 .2
8 ,0 9 1 .1
7 ,9 1 0 .2
8 ,0 0 3 .8
8 ,0 5 5 .0
IV
IV
Gross domestic product . ..
1
1 2 ,4 5 5 .8
1 3 ,2 4 4 .6
1 2 ,7 3 0 .5
1 3 ,0 0 8 .4
1 3 ,1 9 7 .3
1 3 ,3 2 2 .6
1 3 ,4 4 9 .9
Gross domestic product....
Personal consumption
expenditures..........................
2
8 ,7 4 2 .4
9 ,2 6 9 .0
8 ,9 2 7 .8
9 ,0 7 9 .2
9 ,2 2 8 .1
9 ,3 4 6 .7
9 ,4 2 2 .1
Personal consumption
expenditures..........................
2006
II
I
III
IV
1 1 ,4 4 3 .5
1 1 ,5 0 6 .5
8, 111.2
8 ,1 9 4 .4
D u r a b l e g o o d s .......................................
3
1 ,0 3 3 .1
1 ,0 7 0 .3
1 ,0 1 9 .6
1 ,0 6 4 .1
1 ,0 6 1 .8
1 ,0 7 5 .5
1 ,0 7 9 .8
D u r a b l e g o o d s .......................................
3
1 ,1 4 5 .3
1 ,2 0 2 .9
1 ,1 3 7 .9
1 ,1 9 0 .5
1 ,1 9 0 .3
1 ,2 0 8 .8
1 ,2 2 1 .9
N o n d u r a b l e g o o d s ..............................
4
2 ,5 3 9 .3
2 ,7 1 5 .0
2 ,6 1 3 .5
2 ,6 5 8 .2
2 ,7 2 1 .4
2 ,7 4 7 .7
2 ,7 3 2 .7
N o n d u r a b l e g o o d s ..............................
4
2 ,2 7 6 .8
2 ,3 6 2 .1
2 ,3 0 9 .6
2 ,3 4 2 .8
2 ,3 5 1 .1
2 ,3 6 0 .1
2 ,3 9 4 .6
S e r v i c e s .....................................................
5
5 ,1 7 0 .0
5 ,4 8 3 .7
5 ,2 9 4 .7
5 ,3 5 6 .8
5 ,4 4 4 .9
5 ,5 2 3 .5
5 ,6 0 9 .6
S e r v i c e s .......................................................
5
4 ,4 3 6 .6
4 ,5 5 0 .0
4 ,4 7 6 .7
4 ,4 9 4 .5
4 ,5 3 5 .4
4 ,5 6 6 .6
4 ,6 0 3 .3
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ..................................
N o n r e s i d e n t i a l .................................
S t r u c t u r e s .....................................
E q u ip m e n t a n d s o f tw a r e
R e s i d e n t i a l ..........................................
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
6
2 ,0 5 7 .4
2, 211.6
2 ,1 5 4 .5
2 ,2 1 4 .8
2 ,2 3 7 .1
2 ,2 3 5 .5
2 ,1 5 9 .0
Gross private domestic
investment..............................
7
2 ,0 3 6 .2
2 ,1 6 3 .5
2 ,1 0 5 .8
2 ,1 6 7 .7
2 ,1 7 4 .8
2 ,1 7 1 .4
2 ,1 4 0 .2
F i x e d i n v e s t m e n t ..................................
8
6
1 ,8 6 6 .3
1 ,9 4 5 .1
1 ,9 2 7 .0
1 ,9 6 3 .6
1 ,9 6 8 .5
1 ,9 6 4 .8
1 ,8 8 3 .5
7
1 ,8 4 2 .0
1 ,8 9 5 .6
1 ,8 7 7 .3
1 ,9 1 4 .6
1 ,9 0 6 .8
1 ,9 0 1 .3
1 ,8 5 9 .6
8
1 ,2 2 3 .8
1 ,3 1 3 .0
1 ,2 4 8 .2
1 ,3 0 2 .8
1 ,3 3 4 .2
1 ,3 2 6 .0
1 ,2 6 5 .7
1 ,3 9 6 .4
1 ,3 0 4 .3
1 ,3 5 9 .2
1 ,3 8 4 .3
1 ,4 2 0 .8
1 ,4 2 1 .3
N o n r e s i d e n t i a l ..................................
9
3 3 8 .6
4 1 0 .8
3 5 9 .7
3 7 8 .2
4 0 6 .3
4 2 6 .9
4 3 1 .7
S t r u c t u r e s ......................................
9
2 5 1 .5
2 7 3 .7
2 5 4 .2
2 5 9 .6
2 7 1 .9
2 8 2 .0
2 8 1 .4
10
11
12
9 2 7 .1
9 8 5 .6
9 4 4 .7
9 8 1 .0
9 7 7 .9
9 9 4 .0
9 8 9 .6
E q u i p m e n t a n d s o f t w a r e ...
9 8 4 .9
1 ,0 4 9 .8
1 ,0 0 7 .6
1 ,0 4 4 .8
1 ,0 4 1 .2
1 ,0 6 0 .7
1 ,0 5 2 .3
7 7 0 .4
7 6 7 .1
8 0 1 .5
8 0 8 .5
7 9 0 .6
7 5 0 .5
7 1 9 .0
6 0 8 .0
5 8 2 .5
6 1 8 .9
6 1 8 .5
6 0 0 .5
4 8 .1
4 8 .6
4 7 .2
6 2 .3
6 4 .2
1 8 .7
1 9 .6
4 1 .9
4 3 .5
4 1 .2
5 3 .7
5 7 0 .3
5 5 .4
5 4 0 .8
2 1 .3
10
11
12
R e s i d e n t i a l ..........................................
C h a n g e in p r i v a t e i n v e n t o r i e s ...
1 ,2 8 8 .8
1 7 .3
13
- 7 1 6 .7
- 7 6 3 .2
- 7 7 5 .4
- 7 6 5 .2
- 7 0 4 .3
Net exports of goods and
services.................................
13
- 6 1 9 .2
- 6 1 8 .7
- 6 3 6 .6
- 6 3 6 .6
- 6 2 4 .2
- 6 2 8 .8
- 5 8 5 .1
E x p o r t s ........................................................
14
1 ,3 0 3 .1
1 ,4 6 6 .1
1 ,3 5 2 .4
1 ,4 0 5 .4
1 ,4 4 8 .1
1 ,4 8 8 .3
1 ,5 2 2 .7
E x p o r t s ........................................................
14
1 ,1 9 6 .1
1 ,3 0 2 .7
1 ,2 2 8 .4
1 ,2 6 9 .3
1 ,2 8 8 .5
1 ,3 1 0 .0
1 ,3 4 3 .1
G o o d s .....................................................
15
9 0 7 .5
1 ,0 3 5 .5
9 4 4 .3
9 8 9 .3
1 ,0 1 9 .1
1 ,0 5 5 .8
1 ,0 7 7 .6
G o o d s .....................................................
15
8 4 3 .2
9 3 1 .4
8 7 0 .8
9 0 6 .2
9 1 9 .5
9 4 0 .4
Net exports of goods and
services.................................
- 7 8 1 .8
- 8 0 1 .7
9 5 9 .7
S e r v i c e s ...............................................
16
3 9 5 .6
4 3 0 .7
4 0 8 .1
4 1 6 .0
4 2 9 .0
4 3 2 .5
4 4 5 .1
S e r v i c e s .................................................
16
3 5 2 .9
3 7 1 .8
3 5 7 .8
3 6 3 .6
3 6 9 .5
3 7 0 .3
3 8 3 .9
I m p o r t s ........................................................
17
2 ,0 1 9 .9
2 ,2 2 9 .4
2 ,1 2 7 .8
2 ,1 7 0 .6
2 ,2 2 9 .8
2 ,2 9 0 .1
2 ,2 2 6 .9
I m p o r t s ..........................................................
17
1 ,8 1 5 .3
1 ,9 2 1 .4
1 ,8 6 5 .0
1 ,9 0 5 .9
1 ,9 1 2 .7
1 ,9 3 8 .8
1 ,9 2 8 .1
G o o d s .....................................................
18
1 ,6 9 9 .0
1 ,8 8 0 .0
1 ,7 9 9 .3
1 ,8 3 2 .6
1 ,8 7 9 .0
1 ,9 3 8 .8
1 ,8 6 9 .7
G o o d s .....................................................
18
1 ,5 4 9 .9
1 ,6 4 1 .9
1 ,5 9 5 .8
1 ,6 3 1 .9
1 ,6 3 1 .7
1 ,6 6 0 .1
1 ,6 4 4 .0
S e r v i c e s ...............................................
19
3 2 0 .9
3 4 9 .3
3 2 8 .5
3 3 8 .1
3 5 0 .8
3 5 1 .3
3 5 7 .2
S e r v i c e s ................................................
19
2 6 7 .5
2 8 1 .8
2 7 1 .7
2 7 6 .6
2 8 3 .2
2 8 1 .3
2 8 6 .1
1 ,9 5 8 .0
1 ,9 9 9 .4
2 ,0 1 5 .5
Government consumption
expenditures and gross
investment..............................
F e d e r a l ........................................................
N a t io n a l d e f e n s e ............................
20
21
22
2 ,3 7 2 .8
2 ,5 2 7 .2
2 ,4 7 9 .6
2 ,5 1 3 .9
2 ,5 4 2 .1
2 ,5 7 3 .1
Government consumption
expenditures and gross
investment..............................
8 7 8 .3
9 2 6 .4
886.2
9 2 1 .7
9 1 9 .7
9 2 7 .2
9 3 7 .2
F e d e r a l ..........................................................
5 8 9 .3
6 2 1 .0
5 9 0 .9
6 1 3 .5
6 1 6 .5
6 1 8 .1
6 3 5 .7
N a t i o n a l d e f e n s e ............................
2 ,4 2 3 .6
20
21
22
1 ,9 9 8 .3
1 ,9 6 3 .5
1 ,9 8 7 .1
1 ,9 9 1 .2
7 2 7 .5
7 4 1 .8
7 2 9 .6
7 4 5 .1
7 3 6 .6
7 3 8 .9
4 8 3 .6
4 9 2 .8
4 8 1 .4
4 9 1 .8
4 8 9 .3
4 8 7 .8
5 0 2 .2
2 4 8 .8
2 4 8 .0
2 5 3 .1
2 4 7 .0
2 5 0 .9
2 4 4 .3
1 ,2 3 3 .7
1 ,2 4 2 .0
1 ,2 5 4 .4
1 ,2 6 0 .3
1 ,2 6 8 .5
- 2 8 .7
- 3 3 .6
N o n d e f e n s e .......................................
23
2 8 9 .0
3 0 5 .5
2 9 5 .3
3 0 8 .2
3 0 3 .2
3 0 9 .0
3 0 1 .5
N o n d e f e n s e .......................................
23
2 4 3 .7
S t a t e a n d l o c a l .......................................
24
1 ,4 9 4 .4
1 ,6 0 0 .7
1 ,5 3 7 .4
1 ,5 5 7 .9
1 ,5 9 4 .2
1 ,6 1 4 .9
1 ,6 3 5 .9
S t a t e a n d l o c a l .......................................
24
1 ,2 3 0 .4
1 ,2 5 6 .3
R e s i d u a l .............................................................
25
-1 0 .5
- 2 6 .7
-
8.8
- 2 3 .7
-
20.8
7 4 6 .8
N ote . C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s th e p r o d u c t o f t h e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e o f t h e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 1 0 0 . B e c a u s e t h e f o rm u la fo r th e c h a in - ty p e q u a n tity in d e x e s u s e s
w e i g h ts o f m o r e th a n o n e p e r io d , t h e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s i d u a l lin e is
t h e d if f e r e n c e b e tw e e n t h e first lin e a n d t h e s u m o f t h e m o s t d e ta il e d lin e s.
D-4
National Data
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
March 2007
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
I
IV
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2006
II
1
3.0
2.9
3.3
3.3
3.3
1.9
1.7
2
2.9
2.8
2.9
2.0
4.0
2.4
-0.9
1.1
- 2 .7
3
- 0 .7
- 1 .3
N o n d u r a b l e g o o d s ..............................
4
3 .6
3 .1
0.6
1.0
1.1
8 .3
2 .3
- 7 .7
S e r v i c e s .....................................................
5
3 .2
3 .4
5 .0
3 .1
2 .9
3 .0
3 .0
6
3.4
3.2
4.3
3.7
3.1
0.6
3.2
7
3 .5
3 .3
4 .6
3 .8
3 .0
0 .5
3 .1
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ...................................
8
3 .5
3 .7
3 .0
0 .9
2.6
1 1 .3
1 1 .4
1 6 .8
1 2 .4
1 0 .7
5 .3
5 .4
10
11
1?
- 0 .4
- 0 .3
-
5 .1
4 .0
S t r u c t u r e s ......................................
E q u ip m e n t a n d s o ftw a re
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
Net exports of goods and
services.................................
1U
E x p o r t s ........................................................
14
G o o d s .....................................................
2.8
3 .6
1.0
0.6
0.1
- 0 .9
6 .3
3 .8
2 .9
-
3 .3
2.8
3 .3
2 .3
2.8
1.2
15
3 .1
S e r v i c e s ...............................................
16
4 .8
3 .3
4 .2
17
6 .3
4 .3
4 .3
- 0 .7
G o o d s .....................................................
18
6 .5
4 .5
5 .1
-
S e r v i c e s ...............................................
19
5 .4
3 .4
-
6.1
6.2
6.0
2 .3
I m p o r t s ........................................................
Government consumption
expenditures and gross
investment..............................
-
9
N o n r e s i d e n t i a l .................................
R e s i d e n t i a l ..........................................
2.6
0.8
0.1
1 .5
0.1
4 .5
4 .1
5 .3
0.8
0.0
2 .5
- 3 .0
9 .8
5 .4
1.6
10.6
5 .8
4 .5
5 .5
3 .2
8.6
- 10.1
- 0.1
-
5.6
4.4
4.7
4.4
4.8
2.8
1.6
4 .8
3 .4
0 .4
7 .6
3 .8
2.0
0.0
N a t i o n a l d e f e n s e ............................
20
21
22
5 .1
3 .4
6 .7
4 .1
N o n d e f e n s e .......................................
23
4 .1
3 .5
- 0 .7
S t a t e a n d l o c a l .......................................
24
6.2
4 .9
7 .3
F e d e r a l ........................................................
1.0
2 .3
9 .5
3 .2
1 .4
2.6
5 .4
3 .4
- 0 .3
0.8
2.6
Addendum:
G r o s s n a t i o n a l p r o d u c t ...................
Personal consumption
expenditures..........................
3 .0
3 .2
3 .3
3 .3
1 .9
1
2.9
3.0
3.3
2
2.02
1.93
3.3
3
- 0 .0 6
N o n d u r a b l e g o o d s ..............................
4
0 .7 3
0 .6 3
0.11
0.12
S e r v i c e s .......................................................
5
1 .3 5
1 .4 1
2 .0 3
Gross private domestic
investment..............................
-
0.11
2.04
D u r a b l e g o o d s .......................................
III
IV
1.9
1.7
1.64
-0.61
3.3
-
1.44
-0 .0 8
0 .2 3
1 .2 9
2.80
-0 .0 6
- 0 .0 9
1.66
1.21
1 .2 5
6
0.56
0.54
0.72
0.62
0.52
0.11
0.52
7
0 .5 6
0 .5 4
0 .7 5
0 .6 2
0 .4 9
0 .0 9
0 .5 0
0 .2 6
0 .2 9
0 .3 6
0 .3 8
0 .3 2
0 .0 9
0 .2 8
S t r u c t u r e s .....................................
9
0 .2 9
0 .3 1
0 .4 3
0 .3 4
0 .3 1
0 .1 6
0 .1 7
E q u ip m e n t a n d s o f tw a r e ...
10
11
12
- 0 .0 3
- 0 .0 7
0 .0 4
0.01
-0 .0 7
0 .3 9
0 .2 4
0 .1 8
-
0.01
0 .0 3
Net exports of goods and
services.................................
-0.92
-0.41
E x p o r t s ........................................................
0 .6 5
0 .4 8
G o o d s .....................................................
15
R e s i d e n t i a l ..........................................
C h a n g e in p r i v a t e i n v e n t o r i e s ...
-
0.02
0 .3 0
0 .2 5
0.00
0.00
- 0 .0 3
13
-0.61
-0.35
-0.40
0.37
14
0 .3 7
0 .3 5
0 .3 0
0 .2 5
0.22
-
0 .1 7
0.21
S e r v i c e s ................................................
16
0 .1 5
0.11
0 .1 3
0 .0 4
I m p o r t s ..........................................................
17
- 0 .9 8
-0 .7 0
- 0 .7 0
G o o d s .....................................................
18
- 0 .8 4
-0 .6 2
-0 .7 0
S e r v i c e s ................................................
19
- 0 .1 4
-0 .0 9
Government consumption
expenditures and gross
investment.............................
0 .2 5
0.00
-
0 .4 7
0 .2 3
-1 .4 3
- 0 .8 1
1 .5 2
0.11
- 0 .1 4
-0 .0 8
0.00
0.83
0.89
0.84
0.90
0.54
0 .2 4
0 .0 3
0 .5 2
0 .2 6
0 .1 4
0 .2 4
0 .1 6
0 .0 5
0 .3 1
N o n d e f e n s e .......................................
23
0 .0 9
0 .0 8
0 .0 7
0 .0 3
0.02
0.02
24
0 .7 3
0 .5 8
0.02
0.86
0.22
S t a t e a n d l o c a l .......................................
0 .3 2
0 .6 4
0 .4 0
0 .3 1
-
0 .1 9
0.11
2005
IV
Gross domestic product....
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Personal consumption
expenditures..........................
2
70.2
70.0
70.1
69.8
69.9
70.2
70.1
D u r a b l e g o o d s .......................................
3
8 .3
8.1
8.2
2 111.493 114.558 112.865 113.436 114.564 115.232 114.982
N o n d u r a b l e g o o d s ..............................
4
2 0 .4
2 0 .5
2 0 .5
2 0 .4
8.0
20.6
8.1
20.6
2 0 .3
5
4 1 .5
4 1 .4
4 1 .6
4 1 .2
4 1 .3
4 1 .5
4 1 .7
6
16.5
8 9 .3 8 9
8 9 .2 1 0
8 8 .9 7 0
8 8 .3 7 0
S e r v i c e s .......................................................
N o n d u r a b l e g o o d s ..............................
4
1 1 1 .5 3 1
1 1 4 .9 3 9
1 1 3 .1 5 8
1 1 3 .4 6 6
1 1 5 .7 5 0
1 1 6 .4 2 3
1 1 4 ,1 2 2
S e r v i c e s .....................................................
5
1 1 6 .5 2 9
1 2 0 .5 2 1
1 1 8 .2 7 3
1 1 9 .1 8 5
1 2 0 .0 5 1
1 2 0 .9 5 3
1 2 1 .8 6 1
Gross private domestic
investment..............................
C h a n g e in p r i v a t e i n v e n t o r i e s ...
IV
116.890
8 9 .6 1 0
Net exports of goods and
services.................................
III
III
8 8 .9 8 1
R e s i d e n t i a l ..........................................
II
116.420
9 0 .1 9 8
E q u ip m e n t a n d s o ftw a r e
2006
I
II
I
3
F i x e d i n v e s t m e n t ..................................
8.0
8.0
16.7
16.9
17.0
17.0
16.8
16.1
7
1 6 .3
1 6 .3
1 6 .5
1 6 .7
1 6 .5
1 6 .3
1 5 .9
8
10.2
1 0 .5
1 0 .4
1 0 .5
1 0 .7
10.6
2 .9
3 .1
3 .2
3 .2
7 .4
7
1 1 0 .5 4 2
1 1 4 .1 3 6
1 1 2 .1 7 5
1 1 3 .2 1 9
1 1 4 .0 5 6
1 1 4 .2 0 5
1 1 5 .0 9 0
S t r u c t u r e s ......................................
9
2 .7
3 .1
10.2
2.8
8
1 0 3 .4 2 8
1 0 6 .3 5 4
1 0 4 .4 9 9
1 0 5 .4 5 9
1 0 6 .2 5 5
1 0 6 .4 9 0
1 0 7 .1 8 6
E q u i p m e n t a n d s o f t w a r e ...
7 .4
7 .4
7 .4
7 .5
7 .4
7 .5
9
1 3 4 .6 4 7
1 5 0 .0 6 0
1 4 1 .4 7 8
1 4 5 .6 8 5
1 4 9 .4 3 4
1 5 1 .3 7 4
1 5 3 .3 8 2
R e s i d e n t i a l ..........................................
6.2
0.2
5 .8
6 .3
6.2
6.0
5 .6
5 .3
C h a n g e in p r iv a t e i n v e n t o r i e s ...
10
11
12
0 .4
0 .4
0 .4
0 .5
0 .5
0.1
6 110.243 113.702 111.807 112.797 113.644 113.777 114.626
S t r u c t u r e s ......................................
-
2006
IV
D u r a b le g o o d s .......................................
N o n r e s i d e n t i a l .................................
2005
0.31
0.00
115.887
IV
F i x e d i n v e s t m e n t ..................................
1 .5 2
1.06
2006
1 112.737 116.042 114.034 114.951
Gross private domestic
investment..............................
-
0.10
0 .0 8
-0 .8 9
0 .3 3
L in e
Personal consumption
expenditures..........................
0.00
0 .4 0
0 .1 9
20
21
22
F e d e r a l ..........................................................
S e a s o n a lly a d ju s te d
Gross domestic product....
0.10
-1 .5 7
[P e r c e n t]
2005
1.43
-
0.12
Table 1.1.10. Percentage Shares of Gross Domestic Product
2006
0.11
0.22
0.02
0.01
0.02
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
2005
0.22
- 1 .6 4
1 .2 5
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
L in e
-
0 .4 8
8
F i x e d i n v e s t m e n t ..................................
N a t i o n a l d e f e n s e ............................
25
II
Percentage points at annual
rates:
N o n r e s i d e n t i a l ..................................
-
2006
I
Percent change at annual rate:
Gross domestic product....
D u r a b l e g o o d s .......................................
-
2005
IV
Gross domestic product . ..
-
2006
IV
III
Personal consumption
expenditures..........................
- 1 .3
2005
10
11
1?
9 4 .1 3 4
9 3 .8 9 1
9 3 .7 5 6
9 3 .8 8 9
9 3 .9 2 2
9 3 .7 0 6
9 4 .0 4 8
1 2 6 .7 1 4
1 3 1 .6 9 6
1 2 9 .4 9 6
1 3 0 .7 2 4
1 3 1 .6 5 4
1 3 1 .6 1 3
1 3 2 .9 4 0
n
N o n r e s i d e n t i a l ..................................
Net exports of goods and
services.................................
13
-5.8
-5.8
-6.1
-5.9
-5.9
-6.0
-5.2
E x p o r t s ........................................................
14
1 0 .5
11.1
10.6
10.8
11.0
11.2
1 1 .3
G o o d s .....................................................
15
8.0
7 .3
7 .8
7 .4
7 .6
7 .7
7 .9
E x p o r t s ........................................................
14
1 0 8 .9 5 0
1 1 2 .5 4 3
1 1 0 .0 9 1
i 1 0 .7 2 0
1 1 2 .3 8 3
1 1 3 .6 1 4
1 1 3 .3 7 3
S e r v i c e s ................................................
16
3 .2
3 .3
3 .2
3 .2
3 .3
3 .2
3 .3
G o o d s .....................................................
15
1 0 7 .6 2 8
1 1 1 .1 6 7
1 0 8 .4 3 5
1 0 9 .1 7 6
1 1 0 .8 3 6
1 1 2 .2 7 1
1 1 2 .2 8 0
I m p o r t s ..........................................................
17
1 6 .2
1 6 .8
1 6 .7
1 6 .7
1 6 .9
1 7 .2
1 6 .6
1 3 .6
1 4 .2
1 4 .1
1 4 .1
1 4 .2
1 4 .6
1 3 .9
S e r v i c e s ...............................................
16
1 1 2 .1 1 4
1 1 5 .8 1 8
1 1 4 .0 6 9
1 1 4 .4 2 0
1 1 6 .0 8 7
1 1 6 .8 0 3
1 1 5 .9 3 2
G o o d s .....................................................
18
I m p o r t s ........................................................
17
1 1 1 .2 6 9
1 1 6 .0 2 8
1 1 4 .0 9 0
1 1 3 .8 9 0
1 1 6 .5 8 1
1 1 8 .1 1 6
1 1 5 .4 9 5
S e r v i c e s ................................................
19
G o o d s .....................................................
18
1 0 9 .6 2 2
1 1 4 .5 0 2
1 1 2 .7 5 6
1 1 2 .2 9 7
1 1 5 .1 6 2
1 1 6 .7 8 9
1 1 3 .7 2 6
S e r v i c e s ...............................................
19
1 1 9 .9 3 3
1 2 3 .9 7 6
1 2 0 .9 1 4
1 2 2 .2 4 3
1 2 3 .8 9 2
1 2 4 .8 7 7
1 2 4 .8 5 1
Government consumption
expenditures and gross
investment.............................
Government consumption
expenditures and gross
investment..............................
N a t i o n a l d e f e n s e ............................
N o n d e f e n s e .......................................
23
1 1 8 .6 0 6
1 2 2 .7 5 9
1 1 9 .0 5 6
1 2 1 .7 8 3
1 2 2 .7 3 3
1 2 3 .1 5 1
1 2 3 .3 9 5
S t a t e a n d l o c a l .......................................
24
1 2 1 .4 6 3
1 2 7 .4 1 6
1 2 4 .6 1 5
1 2 5 .4 2 8
1 2 7 .0 9 0
1 2 8 .1 4 2
1 2 8 .9 6 3
25
1 1 2 .7 2 6
1 1 4 .0 2 5
1 1 4 .9 4 2
1 1 5 .8 7 9
1 1 6 .4 1 4
Addendum:
G r o s s n a t i o n a l p r o d u c t ...................
2.6
2.6
2.6
2 .7
2.6
2 .7
19.0
19.1
19.0
19.1
19.0
19.1
19.1
7 .1
7 .0
7 .0
7 .1
7 .0
7 .0
7 .0
N a t io n a l d e f e n s e ............................
20
21
22
4 .7
4 .7
4 .6
4 .7
4 .7
4 .6
4 .7
N o n d e f e n s e .......................................
23
2 .3
2 .3
2 .3
2 .4
2 .3
2 .3
S t a t e a n d l o c a l .......................................
24
12.0
12.1
12.1
12.0
12.1
12.1
2.2
12.2
F e d e r a l ..........................................................
20 121.183 126.466 123.437 124.784 126.254 127.143 127.664
21 1 2 0 . 7 2 6 1 2 4 . 8 8 4 1 2 1 . 4 7 2 1 2 3 . 7 1 5 1 2 4 . 8 6 5 1 2 5 . 4 7 5 1 2 5 . 4 8 4
22 1 2 1 . 8 5 5 1 2 6 . 0 1 3 1 2 2 . 7 5 3 1 2 4 . 7 4 6 1 2 5 . 9 9 9 1 2 6 . 7 0 7 1 2 6 . 5 9 6
F e d e r a l .........................................................
2.6
March 2007
D-5
S u r v e y o f C u r r e n t B u s in e s s
Table 1.2.2. Contributions to Percent Change in Real
Gross Domestic Product by Major Type of Product
Table 1.2.1. Percent Change From Preceding Period in Real
Gross Domestic Product by Major Type of Product
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Gross domestic product......
1
3.2
3.3
2
3 .5
3 .1
I
1.8
L in e
2006
II
2.0
2.2
5 .6
2.1
1 .9
3 .6
12.8
3.6
3.8
3.7
1 3 .1
2.2
3 .6
8 .4
S
Goods...........................................
4
4.6
6.2
F i n a l s a l e s ...............................................
5 .6
5 .5
C h a n g e in p r i v a t e i n v e n t o r i e s
5
fi
D u r a b l e g o o d s ............................................
7
6.1
8
7 .1
6.1
6.1
3 .4
6.2
4 .4
4 .9
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
4 .1
9 .0
- 5 .4
1 6 .0
2 .3
1 6 .1
4 .7
1.8
10.8
4 .1
-
2 .3
8 .9
- 3 .4
0.2
6 .7
5 .2
-
0.1
1.2
11.0
-
9 .7
1?
Services 2.....................................
13
2.3
2.3
0.8
2.4
2.4
2.8
3.8
Structures....................................
14
4.6
0.5
3.1
2.9
0.3
-7.4
-10.1
M o to r v e h i c l e o u t p u t ..............................
-
1.8
15
5 .9
e x c lu d in g m o to r v e h ic le o u tp u t
16
3 .1
3 .5
3................
17
2 4 .5
1 6 .9
-1 9 .1
3 .8
-9 .4
5 .6
3 .0
9 .5
6 .7
2 7 .4
-3 3 .4
G ro s s d o m e s tic p ro d u c t
F in a l s a l e s o f c o m p u te r s
2.6
3 3 .8
1.2
3 .6
1 1 .7
4 3 .0
G ro s s d o m e s tic p ro d u c t
III
1
3.2
3.3
3 .5 2
3 .0 8
1.8
5.6
2.6
2.0
2.2
2
p r o d u c t ............................................
-0 .2 8
5 .6 1
2.11
1 .9 0
3 .5 7
2 .0 5
- 0 .0 3
0 .4 4
0 .0 6
-1 .3 5
C h a n g e in p r i v a t e
3
-0 .3 0
0.22
G oods...........................................
4
1.43
1.89
F i n a l s a l e s .................................................
5
1 .7 3
1 .6 7
0.22
3.86
1.12
1.17
1.16
-1 .0 8
3 .8 9
0 .6 7
1.10
2 .5 1
2 .0 5
- 0 .0 3
0.97
C h a n g e in p r i v a t e i n v e n t o r i e s
6
0 .0 6
-1 .3 5
D u r a b l e g o o d s ............................................
7
0 .8 4
0 .8 4
0 .5 8
1 .2 6
0 .3 1
1 .1 9
-0 .4 7
8
0 .9 6
0 .8 4
-0 .7 7
2.11
- 0 .0 3
0 .8 9
0 .7 0
0.12
0.01
1 .3 5
- 0 .8 5
0 .3 4
0 .3 0
-1 .1 7
0 .5 8
1 .0 5
0 .3 9
2 .6 0
0 .8 0
F i n a l s a l e s ................................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
N o n d u r a b l e g o o d s ..................................
F i n a l s a l e s .................................................
1
9
10
11
12
-0 .3 0
-
0 .4 4
-
0.02
0.21
1 .6 3
0 .7 6
0 .8 4
- 0 .3 1
1 .7 8
0 .7 0
-0 .1 8
0.21
0 .7 0
0 .8 2
0.10
1.36
0.46
1.39
1.40
1.63
2.19
0.33
0.33
0.04
-0.84
-1.14
0 .7 6
-1 .2 4
Services 2.....................................
13
1.31
Structures.....................................
14
0.49
15
0.20
0.05
- 0 .2 3
1 .8 1
-0 .1 8
Addenda:
M o to r v e h i c l e o u t p u t ..............................
- 0 .0 6
- 0 .7 1
0.12
- 0 .3 1
G r o s s d o m e s t i c p r o d u c t e x c lu d in g
e x c l u d i n g f in a l s a l e s o f
c o m p u t e r s ................................................
18
3 .1
3 .2
1.6
5 .6
2.0
1 .9
2 .5
G ro s s d o m e s tic p u r c h a s e s
m o t o r v e h i c l e o u t p u t ........................
16
3 .0 3
3 .3 6
2 .4 7
5 .4 6
2 .8 7
1.20
3 .4 6
3................
17
0 .1 6
0.11
0.20
0 .0 7
0 .0 4
0 .0 7
0 .2 3
18
3 .0 7
3 .2 0
1 .5 6
5 .5 2
2 .5 1
1 .8 9
1 .9 9
F in al s a l e s o f c o m p u te r s
G r o s s d o m e s tic p r o d u c t e x c lu d in g
e x c l u d i n g fin a l s a l e s o f
f in a l s a l e s o f c o m p u t e r s ................
c o m p u te r s to d o m e s tic
p u r c h a s e r s ...............................................
19
3 .1
3 .0
5 .1
2 .5
1 .9
0.6
1 .9
1 . E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s fo r 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n t h e 1 9 8 7 S t a n d a r d
I n d u s tr ia l C la s s ific a tio n (S IC ); la te r e s t i m a t e s fo r t h e s e in d u s t r ie s a r e b a s e d o n t h e N o rth A m e ric a n In d u s tr y C la s s ific a tio n
S y s te m (N A IC S ).
2 . I n c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e fo r s e r v i c e s (s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d b y g o v e rn m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n .
3 . S o m e c o m p o n e n ts o f fin al s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
1 . E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s for 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n th e 1 9 8 7 S t a n d a r d
I n d u s tr ia l C la s s ific a tio n (S IC ); la te r e s t i m a t e s fo r t h e s e in d u s t r ie s a r e b a s e d o n t h e N o rth A m e ric a n In d u s tr y C la s s ific a tio n
S y s te m (N A IC S ).
2 . I n c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e fo r s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d b y g o v e r n m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t of p r o d u c tio n .
3 . S o m e c o m p o n e n ts o f final s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
Table 1.2.3. Real Gross Domestic Product by Major Type of Product,
Quantity Indexes
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
S e a s o n a lly a d ju s te d
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Gross domestic product......
L in e
2006
I
II
III
F in a l s a l e s o f d o m e s tic
p r o d u c t ..........................................
2
1 1 2 .9 5 8
1 1 6 .4 4 4
1 1 3 .8 8 3
1 1 5 .4 5 5
1 1 6 .0 6 0
1 1 6 .6 0 9
2005
2006
1 1 7 .6 5 0
2006
2005
IV
IV
1 112.546 116.264 113.719 115.274 116.004 116.569 117.210
I
II
III
IV
1 112.744 116.061 114.048 114.967 115.905 116.446 116.924
Gross domestic product
F in a l s a l e s o f d o m e s tic
p r o d u c t ............................................
2
1 1 2 .7 8 3
G oods...........................................
4
100.162 100.572
F i n a l s a l e s ................................................
5
fi
1 0 0 .2 0 6
1 0 0 .6 3 6
9 9 .8 1 1
1 0 0 .3 2 5
1 0 0 .8 4 1
1 0 0 .7 8 1
1 0 0 .5 9 9
C h a n g e in p r i v a t e i n v e n t o r i e s
7
9 2 .2 1 4
9 1 .4 3 8
9 1 .8 0 3
9 1 .8 3 0
9 1 .6 5 0
9 1 .2 4 3
9 1 .0 3 0
8
9 2 .1 8 6
9 1 .4 2 8
9 1 .7 8 9
9 1 .8 2 4
9 1 .6 5 2
9 1 .2 2 3
9 1 .0 1 4
10
11
12
1 0 7 .4 5 2
1 0 8 .9 8 7
1 0 7 .0 0 8
1 0 7 .9 6 3
1 0 9 .1 6 5
1 0 9 .4 6 7
1 0 9 .3 5 3
1 0 7 .5 7 4
1 0 9 .1 3 3
1 0 7 .1 8 1
1 0 8 .1 4 9
1 0 9 .3 1 9
1 0 9 .6 1 0
1 0 9 .4 5 4
117.810 122.144 119.744 120.745 121.811 122.673 123.348
128.721 136.955 132.758 134.749 136.479 137.374 139.218
1 1 6 .1 1 4
1 1 4 .1 0 1
1 1 5 .0 2 5
1 1 5 .9 6 1
1 1 6 .4 9 8
1 1 6 .9 7 2
C h a n g e in p r iv a t e
C h a n g e in p r i v a t e
G oods...........................................
4
112.515 119.445 114.326 117.831 118.877 119.983 121.089
F i n a l s a l e s ...............................................
5
fi
1 1 3 .6 8 9
7
111.888
8
1 1 3 .2 1 9
C h a n g e in p r i v a t e i n v e n t o r i e s
D u r a b l e g o o d s ............................................
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
N o n d u r a b l e g o o d s ..................................
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
1 1 9 .8 9 9
1 1 4 .6 8 9
1 1 8 .2 7 7
1 1 8 .9 1 7
1 1 9 .9 7 8
1 2 2 .4 2 3
1 1 8 .7 3 1
1 1 4 .7 4 3
1 1 7 .2 3 1
1 1 7 .8 8 7
1 2 0 .4 2 2
1 1 9 .3 8 3
D u r a b l e g o o d s ............................................
1 2 0 .1 5 4
1 1 4 .5 2 3
1 1 8 .8 4 5
1 1 8 .7 8 0
1 2 0 .7 2 4
1 2 2 .2 6 6
F i n a l s a l e s ................................................
q
10
11
1?
C h a n g e in p r i v a t e i n v e n t o r i e s
1 1 3 .3 8 6
1 2 0 .4 0 3
1 1 4 .3 4 2
1 1 8 .6 9 1
1 2 0 .0 5 8
1 2 0 .0 1 9
1 2 2 .8 4 3
1 1 4 .3 4 2
1 1 9 .9 7 3
1 1 5 .0 9 5
1 1 8 .0 9 6
1 1 9 .3 0 2
1 1 9 .6 6 4
1 2 2 .8 3 0
1
N o n d u r a b l e g o o d s ..................................
F i n a l s a l e s ................................................
C h a n g e in p r iv a t e i n v e n t o r i e s
1
99.734 100.237 100.768 100.723 100.560
q
Services 2.....................................
13
112.963 115.601 113.738 114.408 115.094 115.905 116.999
Services 2.....................................
13
Structures....................................
14
111.235 111.784 112.698 113.518 113.612 111.462 108.542
Structures.....................................
14
15
1 1 8 .0 0 6
Addenda:
Addenda:
M o to r v e h i c l e o u t p u t ..............................
1 1 5 .8 3 4
1 1 6 .2 6 0
1 1 7 .3 4 1
1 1 4 .4 8 7
1 2 1 .6 2 1
1 0 9 .8 8 7
15
9 7 .6 5 6
9 7 .0 0 6
9 6 .8 5 7
9 7 .6 3 6
9 7 .5 6 4
9 6 .4 6 0
9 6 .3 6 4
G ro s s d o m e s tic p ro d u c t
G ro s s d o m e s tic p ro d u c t
e x c lu d in g m o to r v e h ic le o u tp u t
16
1 1 2 .3 5 9
1 1 6 .2 6 7
1 1 3 .6 2 6
1 1 5 .1 9 7
1 1 6 .0 4 3
1 1 6 .3 9 8
1 1 7 .4 3 1
3................
17
1 9 0 .5 3 4
2 2 2 .7 3 6
2 0 7 .1 5 3
2 1 1 .9 0 7
2 1 5 .3 9 3
2 2 1 .4 5 5
2 4 2 .1 8 7
F in a l s a l e s o f c o m p u te r s
IV
F in a l s a l e s of d o m e s tic
C h a n g e in p r iv a t e i n v e n t o r i e s
Addenda:
II
Percentage points at annual
rates:
i n v e n t o r i e s ..................................
q
10
11
N o n d u r a b l e g o o d s ..................................
3.1
- 3 .4
I
Percent change at annual rate:
Gross domestic product......
C h a n g e in p r i v a t e
2006
2005
IV
2.6
- 0 .3
2006
IV
III
5.6
F in a l s a l e s o f d o m e s tic
p r o d u c t ..........................................
2005
16
1 1 3 .3 3 2
1 1 6 .8 0 7
1 1 4 .7 2 1
1 1 5 .6 4 6
1 1 6 .6 2 4
1 1 7 .2 2 8
1 1 7 .7 2 9
17
4 1 .4 3 0
3 4 .7 3 9
3 8 .4 7 6
3 7 .2 3 4
3 5 .3 6 2
3 3 .7 9 9
3 2 .5 6 1
18
1 1 3 .7 2 4
1 1 7 .2 3 2
1 1 5 .1 0 7
1 1 6 .0 6 7
1 1 7 .0 6 0
1 1 7 .6 4 3
1 1 8 .1 5 8
e x c l u d i n g f in a l s a l e s o f
e x c l u d i n g fin a l s a l e s o f
c o m p u t e r s ................................................
e x c lu d in g m o to r v e h ic le o u tp u t
G ro s s d o m e s tic p ro d u c t
G ro s s d o m e s tic p ro d u c t
18
1 1 2 .0 5 3
1 1 5 .6 5 8
1 1 3 .1 6 2
1 1 4 .7 0 3
1 1 5 .4 2 1
1 1 5 .9 6 6
1 1 6 .5 4 2
19
1 1 3 .5 7 1
1 1 6 .9 6 1
1 1 4 .7 9 6
1 1 6 .2 3 5
1 1 6 .7 8 7
1 1 7 .3 2 7
1 1 7 .4 9 4
G ro s s d o m e s tic p u r c h a s e s
e x c l u d i n g fin a l s a l e s o f
1. E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s fo r 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n th e 1 9 8 7 S t a n d a r d
I n d u s tr ia l C la s s ific a tio n (S IC ); la te r e s t i m a t e s fo r t h e s e in d u s t r ie s a r e b a s e d o n t h e N o rth A m e ric a n I n d u s tr y C la s s ific a tio n
c o m p u te r s to d o m e s tic
p u r c h a s e r s ...............................................
1 . E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s fo r 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n t h e 1 9 8 7 S t a n d a r d
I n d u s tr ia l C la s s ific a tio n (S IC ); la te r e s t i m a t e s for t h e s e in d u s t r ie s a r e b a s e d o n t h e N o rth A m e ric a n In d u s tr y C la s s ific a tio n
S y s te m (N A IC S ).
2 . I n c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e for s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d by g o v e r n m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t of p r o d u c tio n .
3 . S o m e c o m p o n e n t s o f fin al s a l e s o f c o m p u te r s in c lu d e c o m p u te r p a r ts .
S y s te m (N A IC S ).
2 . In c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e fo r s e r v i c e s (s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d b y g o v e r n m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n .
3 . S o m e c o m p o n e n t s of final s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
D-6
National Data
March 2007
Table 1.2.5. Gross Domestic Product
by Major Type of Product
Table 1.2.6. Real Gross Domestic Product
by Major Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
IV
I
II
L in e
F in a l s a l e s o f d o m e s tic
2005
2006
IV
II
I
III
IV
1 11,048.6 11,413.6 11,163.8 11,316.4 11,388.1 11,443.5 11,506.5
Gross domestic product
F in a l s a l e s o f d o m e s tic
2
p r o d u c t ..........................................
1 2 ,4 3 4 .6
1 3 ,1 9 6 .5
1 2 ,6 8 1 .9
1 2 ,9 6 1 .2
1 3 ,1 3 5 .1
1 3 ,2 5 8 .4
1 3 ,4 3 1 .2
C h a n g e in p r i v a t e
2
p r o d u c t ..........................................
1 1 ,0 2 5 .2
1 1 ,3 6 5 .4
1 1 ,1 1 5 .5
1 1 ,2 6 9 .0
1 1 ,3 2 8 .0
1 1 ,3 8 1 .6
1 1 ,4 8 3 .2
C h a n g e in p r i v a t e
i n v e n t o r i e s ...................................
3
2 1 .3
Goods...........................................
4
3,886.5
4,142.1
3,932.6
4,073.2
F i n a l s a l e s ...............................................
5
3 ,8 6 5 .3
4 ,0 9 4 .0
3 ,8 8 3 .9
4 ,0 2 6 .1
C h a n g e in p r i v a t e i n v e n t o r i e s
6
D u r a b l e g o o d s ............................................
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
N o n d u r a b l e g o o d s ..................................
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1
Services 2.....................................
Structures.....................................
4 8 .6
4 8 .1
4 7 .2
6 2 .3
6 4 .2
1 8 .7
4,131.0
4,166.7
4,197.3
4 ,0 6 8 .7
4 ,1 0 2 .5
4 ,1 7 8 .6
6 4 .2
1 8 .7
M o to r v e h i c l e o u t p u t ..............................
i n v e n t o r i e s .................................
3
R e s i d u a l .............................................
4
3 .8
6 .3
4 .8
6.2
6 .4
6 .5
6.0
Goods..........................................
5
3,881.0
4,120.1
3,943.5
4,064.4
4,100.5
4,138.6
4,176.8
6
3 ,8 5 7 .3
4 ,0 6 8 .0
3 ,8 9 1 .2
4 ,0 1 3 .0
4 ,0 3 4 .7
4 ,0 7 0 .7
4 ,1 5 3 .6
4 8 .6
4 7 .2
6 2 .3
7
1 ,7 4 2 .9
1 ,8 3 3 .9
1 ,7 7 9 .6
1 ,8 1 8 .6
1 ,8 2 5 .1
1 ,8 5 6 .1
1 ,8 3 5 .9
8
1 ,7 2 5 .6
1 ,8 1 6 .3
1 ,7 3 8 .1
1 ,8 0 4 .3
1 ,8 0 0 .0
1 ,8 2 0 .9
1 ,8 3 9 .9
D u r a b l e g o o d s ..........................................
1 7 .3
1 7 .6
4 1 .6
1 4 .3
2 5 .1
3 5 .2
- 4 .0
F i n a l s a l e s ...............................................
9
2 1 .3
4 8 .1
10
11
12
2 ,1 4 3 .6
2 ,3 0 8 .1
2 ,1 5 2 .9
2 ,2 5 4 .6
2 ,3 0 5 .9
2 ,3 1 0 .6
2 ,3 6 1 .4
2 ,1 3 9 .7
2 ,2 7 7 .7
2 ,1 4 5 .9
2 ,2 2 1 .7
2 ,2 6 8 .7
2 ,2 8 1 .7
2 ,3 3 8 .7
4 .0
3 0 .4
7 .0
13
7,220.4
7,661.0
7,388.9
14
1,348.9
1,441.6
3 2 .9
7,494.5
3 7 .2
2 8 .9
2 2 .7
7,713.8
7,606.0
1,409.1
1,440.6
1,460.3
1,442.1
4 1 1 .8
4 1 8 .0
4 0 8 .2
4 2 8 .0
7,829.5
1,423.2
Addenda:
15
4 2 0 .5
4 1 0 .1
3 8 6 .2
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
C h a n g e in p r i v a t e i n v e n t o r i e s
7
1
N o n d u r a b l e g o o d s .................................
F i n a l s a l e s ...............................................
C h a n g e in p r i v a t e i n v e n t o r i e s
1 9 .6
1
4 1 .9
4 1 .2
5 3 .7
5 5 .4
1 7 .3
1 9 .6
4 1 .9
4 3 .5
4 1 .2
5 3 .7
5 5 .4
8
1 ,8 9 0 .2
2 ,0 0 5 .8
1 ,9 3 8 .4
1 ,9 8 0 .5
1 ,9 9 1 .5
2 ,0 3 4 .4
2 ,0 1 6 .8
9
1 ,8 7 1 .9
1 ,9 8 6 .5
1 ,8 9 3 .4
1 ,9 6 4 .9
1 ,9 6 3 .8
1 ,9 9 5 .9
2 ,0 2 1 .4
10
11
12
1 6 .4
1 6 .2
3 9 .2
1 3 .4
2 3 .1
3 1 .9
- 3 .7
1 ,9 9 5 .6
2 ,1 1 9 .1
2 ,0 1 2 .4
2 ,0 8 8 .9
2 ,1 1 3 .0
2 ,1 1 2 .3
2 ,1 6 2 .0
2, 002.1
2 ,0 5 4 .3
1 ,9 8 9 .0
2 ,0 8 7 .0
13
3 .9
2 5 .3
14
6,128.9
6,272.1
Structures....................................
15
1,047.9
1,053.1
R e s i d u a l ................................................................
16
Services 2....................................
4 3 .5
- 9 .4
6 .4
6,170.9
1,061.7
-2 6 .6
- 9 .9
2 ,0 7 5 .3
2 7 .1
1 7 .3
2 ,1 3 6 .7
2 ,0 8 1 .6
3 0 .3
2 4 .1
1 9 .6
6,207.3
6,244.5
6,288.5
6,347.9
1,069.4
1,070.3
1,050.0
1,022.5
-
20.0
-1 9 .2
- 2 8 .5
- 3 7 .9
Addenda:
G ro s s d o m e s tic p ro d u c t
e x c lu d in g m o to r v e h ic le o u tp u t
16
3................
17
F in a l s a l e s o f c o m p u te r s
2006
IV
III
1 12,455.8 13,244.6 12,730.5 13,008.4 13,197.3 13,322.6 13,449.9
Gross domestic product
2005
1 2 ,0 3 5 .3
86.8
1 2 ,8 3 4 .5
1 2 ,3 1 8 .8
1 2 ,5 9 0 .4
1 2 ,7 8 9 .1
1 2 ,8 9 4 .6
1 3 ,0 6 3 .7
8 5 .2
8 7 .9
8 7 .0
8 4 .0
8 2 .6
8 7 .0
G ro s s d o m e s tic p ro d u c t
e x c lu d in g m o to r v e h ic le o u tp u t
e x c l u d i n g f in a l s a l e s o f
c o m p u t e r s .................................................
M o to r v e h i c l e o u t p u t ............................
F in a l s a l e s o f c o m p u te r s
18
1 2 ,3 6 9 .1
1 3 ,1 5 9 .4
1 2 ,6 4 2 .6
1 2 ,9 2 1 .3
1 3 ,1 1 3 .3
1 3 ,2 4 0 .0
1 3 ,3 6 2 .9
17
4 3 0 .7
4 2 2 .8
4 2 4 .3
4 2 8 .3
4 1 7 .8
4 4 3 .9
4 0 1 .0
18
1 0 ,6 2 0 .2
1 0 ,9 8 9 .6
1 0 ,7 3 9 .9
1 0 ,8 8 8 .4
1 0 ,9 6 8 .4
1 1 ,0 0 1 .9
1 1 ,0 9 9 .6
19
2 0 9 .5
2 4 4 .9
2 2 7 .7
2 3 3 .0
2 3 6 .8
2 4 3 .5
2 6 6 .3
1 0 ,8 7 7 .0
1 1 ,2 2 7 .0
1 0 ,9 8 4 .7
1 1 ,1 3 4 .3
1 1 ,2 0 4 .0
1 1 ,2 5 6 .9
1 1 ,3 1 2 .8
G ro s s d o m e s tic p ro d u c t
3
G ro s s d o m e s tic p ro d u c t
e x c l u d i n g f in a l s a l e s o f
1. E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s fo r 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n th e 1 9 8 7 S t a n d a r d I n d u s
trial C la s s ific a tio n (S IC ); la te r e s t i m a t e s fo r t h e s e in d u s t r ie s a r e b a s e d o n th e N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m
(N A IC S ).
2 . I n c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e fo r s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d b y g o v e r n m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n .
3 . S o m e c o m p o n e n t s o f fin al s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
c o m p u t e r s ...............................................
20
1 . E s tim a te s fo r d u r a b le g o o d s a n d n o n d u r a b le g o o d s for 1 9 9 6 a n d e a r lie r p e r io d s a r e b a s e d o n t h e 1 9 8 7 S t a n d a r d In d u s
tria l C la s s ific a tio n (S IC ); la te r e s t i m a t e s fo r t h e s e in d u s t r ie s a r e b a s e d o n th e N o rth A m e r ic a n I n d u s tr y C la s s ific a tio n S y s te m
(N A IC S ).
2 . I n c lu d e s g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s , w h ic h a r e for s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e )
p r o d u c e d b y g o v e rn m e n t. In c u r r e n t d o lla r s , t h e s e s e r v i c e s a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n .
3 . S o m e c o m p o n e n ts o f final s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
N ote . C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s t h e p r o d u c t o f t h e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e o f th e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 1 0 0 . B e c a u s e t h e f o rm u la fo r t h e c h a in - ty p e q u a n tity in d e x e s u s e s w e ig h ts
o f m o r e th a n o n e p e rio d , th e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s i d u a l lin e follow ing
c h a n g e in p r iv a te in v e n to r ie s is th e d if f e r e n c e b e tw e e n g r o s s d o m e s tic p r o d u c t a n d t h e s u m of fin al s a l e s o f d o m e s tic p r o d u c t
a n d o f c h a n g e in p r iv a te in v e n to rie s; t h e r e s i d u a l lin e follow ing s tr u c t u r e s is th e d if f e r e n c e b e tw e e n g r o s s d o m e s tic p r o d u c t
a n d th e s u m o f t h e d e ta il e d lin e s o f g o o d s , of s e r v i c e s , a n d o f s tr u c tu r e s .
Table 1.3.1. Percent Change From Preceding Period
in Real Gross Value Added by Sector
Table 1.3.3. Real Gross Value Added by Sector,
Quantity Indexes
[Percent]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
I
IV
Gross domestic product . ..
Business 1.................................
1
2
3.2
3.8
3.3
3.8
1.8
1.8
S e a s o n a lly a d ju s te d
2006
II
L in e
2.6
2.7
6 .7
2 .7
2.0
1.9
2..................................................
3
3 .8
3 .8
4
1.0
4 .8
1.8
8.1
Households and institutions....
5
2.1
2.8
2.3
4.4
3.0
2.1
1.0
6
3 .1
4 .1
4 .1
7 .4
4 .0
2.8
0 .9
H o u s e h o l d s .............................................
1 4 .1
3 .9
1 .9
-
2.0
2 .5
- 0 .7
N o n p r o f it in s t i t u t i o n s s e r v i n g
h o u s e h o ld s
3....................................
7
0.8
8
0.9
9
S t a t e a n d l o c a l .......................................
10
0.6
1.0
11
2 .7
1.2
0.0
0.6
I
II
III
IV
1 112.546 116.264 113.719 115.274 116.004 116.569 117.210
2 113.706 117.992 115.057 116.942 117.735 118.281 119.011
2..................................................
3
1 1 5 .0 4 4
1 1 6 .9 1 1
1 1 7 .7 0 0
1 1 8 .2 5 7
F a r m ..............................................................
4
1 1 5 .2 6 6
1 2 0 .8 2 3
1 1 6 .4 1 5
1 2 0 .3 1 6
1 2 1 .4 5 8
1 2 0 .8 6 1
1 2 0 .6 5 8
Households and institutions....
5
111.086
114.187
111.972 113.180 114.028
114.631
114.910
6
1 1 2 .6 0 5
1 1 7 .1 6 6
1 1 3 .7 9 8
1 1 5 .8 5 3
1 1 6 .9 8 5
1 1 7 .7 8 8
1 1 8 .0 4 0
7
1 0 9 .2 9 4
1 1 0 .6 1 6
1 0 9 .8 0 5
1 0 9 .9 8 2
1 1 0 .4 8 4
1 1 0 .8 4 2
1 1 1 .1 5 6
N o n fa rm
H o u s e h o l d s ...............................................
1 1 3 .6 9 0
1 1 7 .9 6 6
1 1 8 .9 9 6
0.7
0.9
-0.7
1 .5
- 3 .5
1.8
1 .3
0.8
2.4
1.6
General government4...............
3 .2
0.0
F e d e r a l ..........................................................
9
1 0 6 .9 4 7
1 0 6 .5 7 9
1 0 7 .1 2 1
1 0 6 .1 6 7
1 0 6 .1 4 8
1 0 6 .9 9 7
2.1
2 .3
S t a t e a n d l o c a l .......................................
10
1 0 6 .5 3 6
1 0 7 .7 4 1
1 0 6 .9 1 5
1 0 7 .0 6 5
1 0 7 .3 8 9
1 0 7 .9 4 4
1 0 8 .5 6 5
2.8
0 .9
11
1 0 7 .8 5 7
1 1 1 .8 2 4
1 0 8 .6 7 4
1 1 0 .5 6 3
1 1 1 .6 4 2
1 1 2 .4 2 1
1 1 2 .6 7 0
1.1
0 .7
0.6
0.1
1.2
3 .7
2.8
7 .1
4 .0
- 0 .3
-
1.1
Addendum:
G r o s s h o u s in g v a lu e a d d e d
Gross domestic product....
Business 1.................................
2006
N o n p r o f it i n s t i t u t i o n s s e r v i n g
F e d e r a l ........................................................
General governm ent4...............
2005
IV
2.2
2.5
F a r m ...............................................................
N o n fa rm
2006
IV
III
5.6
6.7
2005
h o u s e h o ld s
3.....................................
8 106.666 107.390 106.982 106.795 107.014 107.659 108.093
1 0 7 .0 0 2
Addendum:
G r o s s h o u s in g v a lu e a d d e d
1. E q u a l s g r o s s d o m e s tic p r o d u c t e x c lu d in g g r o s s v a lu e a d d e d of h o u s e h o ld s a n d in s titu tio n s a n d o f g e n e r a l g o v e r n m e n t.
2 . E q u a l s g r o s s d o m e s tic b u s i n e s s v a lu e a d d e d e x c lu d in g g r o s s fa r m v a lu e a d d e d .
1. E q u a l s g r o s s d o m e s tic p r o d u c t e x c lu d in g g r o s s v a lu e a d d e d of h o u s e h o ld s a n d in s titu tio n s a n d o f g e n e r a l g o v e rn m e n t.
2 . E q u a l s g r o s s d o m e s tic b u s i n e s s v a lu e a d d e d e x c lu d in g g r o s s fa r m v a lu e a d d e d .
3 . E q u a l s c o m p e n s a tio n of e m p lo y e e s o f n o n p ro fit in s titu tio n s , t h e r e n ta l v a lu e o f n o n r e s i d e n tia l fix e d a s s e t s o w n e d a n d
u s e d b y n o n p ro fit in s titu tio n s s e r v i n g h o u s e h o ld s , a n d re n ta l in c o m e o f p e r s o n s fo r te n a n t- o c c u p ie d h o u s in g o w n e d by
n o n p ro fit in stitu tio n s .
u s e d b y n o n p ro fit in s titu tio n s s e r v i n g h o u s e h o ld s , a n d re n ta l in c o m e o f p e r s o n s for t e n a n t- o c c u p ie d h o u s in g o w n e d by
n o n p ro fit in stitu tio n s .
4 . E q u a l s c o m p e n s a tio n of g e n e r a l g o v e r n m e n t e m p lo y e e s p lu s g e n e r a l g o v e r n m e n t c o n s u m p tio n o f fix e d c a p ita l.
3 . E q u a l s c o m p e n s a tio n of e m p lo y e e s o f n o n p r o fit in stitu tio n s , t h e r e n ta l v a lu e of n o n r e s i d e n tia l fix e d a s s e t s o w n e d a n d
4 . E q u a l s c o m p e n s a tio n of g e n e r a l g o v e r n m e n t e m p lo y e e s p lu s g e n e r a l g o v e r n m e n t c o n s u m p tio n o f fix e d c a p ita l.
March 2007
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
[Index numbers, 2000=100]
[Billions of dollars]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
2006
IV
I
II
L in e
III
1 1 2 .7 4 4
1 1 6 .0 6 1
1 1 4 .0 4 8
1 1 4 .9 6 7
1 1 5 .9 0 5
1 1 6 .4 4 6
1 1 6 .9 2 4
1 1 0 .3 2 4
1 1 3 .2 0 6
1 1 1 .5 8 1
1 1 2 .3 2 5
1 1 3 .1 7 9
1 1 3 .5 1 8
1 1 3 .8 0 1
2..................................................
3
1 1 0 .2 6 8
1 1 3 .2 4 4
1 1 1 .5 8 2
1 1 2 .3 7 9
1 1 3 .3 2 0
1 1 3 .5 6 1
1 1 3 .7 1 5
N o n fa rm
2..................................................
3
F a r m ...............................................................
4
1 1 6 .2 7 0
1 0 9 .5 3 6
1 1 1 .7 7 3
1 0 6 .9 4 5
9 8 .8 1 1
1 0 9 .2 5 8
1 2 3 .1 3 2
F a r m ...............................................................
Households and institutions....
5
1 1 7 .9 6 0
1 2 2 .7 9 5
1 1 9 .3 8 9
1 2 0 .6 2 8
1 2 2 .1 0 4
1 2 3 .5 3 6
1 2 4 .9 1 4
Households and institutions....
H o u s e h o l d s ...............................................
Business 1..................................
N o n fa rm
H o u s e h o l d s ..............................................
3....................................
6
1 1 4 .4 9 5
1 1 8 .8 9 6
1 1 5 .4 4 8
1 1 6 .3 9 7
1 1 8 .1 4 8
1 1 9 .8 4 2
1 2 1 .1 9 6
7
1 2 2 .4 3 7
1 2 7 .8 4 1
1 2 4 .5 0 8
1 2 6 .1 4 2
1 2 7 .2 3 3
1 2 8 .2 9 2
1 2 9 .6 9 9
1
2
Gross domestic product....
Business 1.................................
N o n p r o f it i n s t i t u t i o n s s e r v i n g
h o u s e h o ld s
2006
2005
IV
1
2
Gross domestic product....
2005
2006
IV
I
II
III
IV
1 2 ,4 5 5 .8
1 3 ,2 4 4 .6
1 2 ,7 3 0 .5
1 3 ,0 0 8 .4
1 3 ,1 9 7 .3
1 3 ,3 2 2 .6
1 3 ,4 4 9 .9
9 ,6 1 3 .4
1 0 ,2 3 4 .9
9 ,8 3 7 .9
1 0 ,0 6 5 .4
1 0 ,2 1 0 .4
1 0 ,2 8 7 .7
1 0 ,3 7 6 .1
9 ,5 1 7 .5
1 0 ,1 4 0 .9
9 ,7 4 5 .0
9 ,9 7 3 .6
1 0 ,1 2 4 .8
1 0 ,1 9 4 .0
1 0 ,2 7 1 .2
4
9 5 .9
9 4 .0
9 2 .9
9 1 .8
8 5 .6
9 3 .7
1 0 4 .9
5
1 ,4 1 9 .6
1 ,5 1 9 .1
1 ,4 4 8 .2
1 ,4 7 9 .0
1 ,5 0 8 .3
1 ,5 3 4 .0
1 ,5 5 4 .9
6
7 9 3 .7
8 5 7 .7
8 0 8 .8
8 3 0 .2
8 5 0 .9
8 6 9 .0
8 8 0 .7
7
6 2 5 .8
6 6 1 .4
6 3 9 .4
6 4 8 .8
6 5 7 .4
6 6 5 .0
6 7 4 .2
1 ,4 2 2 .9
1 ,4 9 0 .6
1 ,4 4 4 .5
1 ,4 6 4 .0
1 ,4 7 8 .6
1 ,5 0 0 .8
1 ,5 1 8 .9
N o n p r o f it i n s t i t u t i o n s s e r v i n g
h o u s e h o ld s
3......................................
8
1 2 4 .7 1 8
1 2 9 .7 6 8
1 2 6 .2 3 7
1 2 8 .1 7 0
1 2 9 .1 8 2
1 3 0 .3 3 8
1 3 1 .3 8 0
F e d e r a l ........................................................
9
1 2 9 .4 7 9
1 3 4 .3 5 7
1 2 9 .7 8 2
1 3 3 .7 6 3
1 3 4 .3 9 0
1 3 4 .5 7 9
1 3 4 .6 9 4
F e d e r a l ..........................................................
9
4 3 6 .7
4 5 1 .6
4 3 8 .4
4 4 7 .9
4 4 9 .9
4 5 4 .1
4 5 4 .5
S t a t e a n d l o c a l .......................................
10
1 2 2 .7 3 5
1 2 7 .8 5 7
1 2 4 .7 6 4
1 2 5 .8 4 4
1 2 7 .0 1 5
1 2 8 .5 7 2
1 2 9 .9 9 7
S t a t e a n d l o c a l .......................................
10
9 8 6 .2
1 ,0 3 9 .0
1 ,0 0 6 .0
1 ,0 1 6 .2
1 ,0 2 8 .7
1 ,0 4 6 .7
1 ,0 6 4 .4
11
9 8 2 .6
1 ,0 5 8 .2
9 9 9 .2
1 ,0 2 5 .0
1 ,0 4 9 .6
1 ,0 7 1 .8
1 ,0 8 6 .7
General governm ent4...............
Addendum:
G ro s s h o u s in g v a lu e a d d e d
Addendum:
11
1 1 4 .6 9 4
1 1 9 .1 3 4
1 1 5 .7 6 4
1 1 6 .7 1 6
1 1 8 .3 6 1
1 2 0 .0 3 2
1 2 1 .4 2 9
G r o s s h o u s i n g v a l u e a d d e d ........
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.
8
General government4...............
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.
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
[B i llio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
2006
IV
Gross domestic product...........................................
Business 1..........................................................................
1
2
I
II
III
IV
1 1 ,0 4 8 .6
1 1 ,4 1 3 .6
1 1 ,1 6 3 .8
1 1 ,3 1 6 .4
1 1 ,3 8 8 .1
1 1 ,4 4 3 .5
1 1 ,5 0 6 .5
8 ,7 1 7 .5
9 ,0 4 6 .1
8 ,8 2 1 .0
8 ,9 6 5 .6
9 ,0 2 6 .4
9 ,0 6 8 .2
9 ,1 2 4 .2
9 ,0 3 7 .9
2..................................................................................................................
3
8 ,6 3 4 .9
8 ,9 5 9 .7
8 ,7 3 7 .8
8 ,8 7 9 .6
8 ,9 3 9 .5
8 ,9 8 1 .8
F a r m ..............................................................................................................................
4
8 2 .4
8 6 .4
8 3 .3
86.1
8 6 .9
8 6 .4
8 6 .3
Households and institutions............................................
5
1 ,2 0 0 .5
1 ,2 3 4 .0
1, 210.1
1 ,2 2 3 .1
1 ,2 3 2 .3
1 ,2 3 8 .8
1 ,2 4 1 .8
6
6 9 3 .2
7 2 1 .3
7 0 0 .6
7 1 3 .2
7 2 0 .2
7 2 5 .2
7 2 6 .7
7
5 0 8 .3
5 1 4 .4
5 1 0 .7
5 1 1 .5
5 1 3 .8
5 1 5 .5
5 1 6 .9
N o n fa rm
H o u s e h o l d s .............................................................................................................
N o n p r o f it in s t i t u t i o n s s e r v i n g h o u s e h o l d s
3..................................
General government4.......................................................
8
1 ,1 4 0 .9
1 ,1 4 8 .6
1 ,1 4 4 .3
1 ,1 4 2 .3
1 ,1 4 4 .6
1 ,1 5 1 .5
1 ,1 5 6 .2
F e d e r a l ........................................................................................................................
9
3 3 7 .3
3 3 6 .1
3 3 7 .8
3 3 4 .8
3 3 4 .8
3 3 7 .4
3 3 7 .4
S t a t e a n d l o c a l .......................................................................................................
10
11
8 0 3 .5
8 1 2 .6
8 0 6 .4
8 0 7 .5
8 1 0 .0
8 1 4 .1
8 1 8 .8
-
-1 6 .9
-
- 1 6 .3
- 1 7 .1
- 1 6 .9
-1 7 .5
12
8 5 6 .7
888.2
8 6 3 .2
8 7 8 .2
886.8
8 9 2 .9
8 9 4 .9
R e s i d u a l .............................................................................................................................
11.0
12.8
Addendum:
G r o s s h o u s i n g v a l u e 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.
Note. Chained (2000) dollar series are calculated as the product of the chaintype quantity index and the 2000 current-dollar value of the corresponding
series, divided by 100. Because the formula for the chain-type quantity indexes
uses weights of more than one period, the corresponding chained-dollar esti
mates are usually not additive. The residual line is the difference between the
first line and the sum of the most detailed lines.
Table 1.4.1. Percent Change From Preceding Period in Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers
[P e r c e n t]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
2006
IV
I
II
III
IV
L e s s : E x p o r t s o f g o o d s a n d s e r v i c e s .......................................................
1
2
8 .9
9 .6
1 4 .0
P lu s : I m p o r t s o f g o o d s a n d s e r v i c e s ........................................................
3
6.8
6.1
2.6
6.2
5 .8
1 3 .2
9 .1
1 .4
5 .6
Equals: Gross domestic purchases.................................
4
3 .3
3 .1
2 .7
5 .3
2.0
2.0
0 .7
L e s s : C h a n g e in p r i v a t e i n v e n t o r i e s ...........................................................
S
Equals: Final sales to domestic purchasers....................
6
3 .6
2 .9
0 .7
5 .4
1.6
2.0
2.0
7
3 .5
3 .1
- 0 .3
5 .6
2.1
1 .9
3 .6
Gross domestic product...................................................
3 .2
3 .3
1.8
5 .6
2.0
6.8
1 0 .5
-
2.2
2.2
Addendum:
F i n a l s a l e s o f d o m e s t i c p r o d u c t ...............................................................
D-8
National Data
March 2007
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
2006
IV
Gross domestic product...........
S e a s o n a lly a d ju s te d
I
II
L in e
III
1 112.546 116.264 113.719 115.274 116.004 116.569 117.210
L es s: E x p o rts o f g o o d s a n d
s e r v i c e s .......................................................
Equals: Gross domestic
purchases..............................
1 0 9 .1 0 5
1 1 8 .8 3 1
1 1 2 .0 5 4
1 1 5 .7 8 3
1 1 7 .5 3 6
1 1 9 .4 9 5
1 2 2 .5 1 0
3
1 2 3 .0 0 7
1 3 0 .1 9 7
1 2 6 .3 7 7
1 2 9 .1 4 6
1 2 9 .6 0 8
1 3 1 .3 7 8
1 3 0 .6 5 4
118.537
Equals: Final sales to domestic
purchasers.............................
4
114.351
117.946 115.657
117.161
117.746
118.341
2006
Gross domestic product...........
1 112.744 116.061
I
II
III
IV
114.048 114.967 115.905 116.446 116.924
2
1 0 8 .9 4 9
1 1 2 .5 4 0
1 1 0 .1 0 8
1 1 0 .7 3 7
1 1 2 .4 0 0
1 1 3 .6 3 1
1 1 3 .3 9 0
s e r v i c e s .......................................................
3
1 1 1 .2 6 8
1 1 6 .0 4 8
1 1 4 .1 1 7
1 1 3 .9 1 8
1 1 6 .6 0 8
1 1 8 .1 4 3
1 1 5 .5 2 2
Equals: Gross domestic
purchases..............................
4
112.981
116.497
114.541
115.313
116.455
117.080 117.142
6 113.021 116.551
114.594
115.371
116.510 117.133 117.189
7
1 1 4 .1 0 1
1 1 5 .0 2 5
1 1 5 .9 6 1
s e r v i c e s .......................................................
L e s s : C h a n g e in p r iv a t e
5
i n v e n t o r i e s ................................................
6 114.755 118.128 115.825 117.345 117.810 118.390 118.967
Addendum:
F in a l s a l e s o f d o m e s tic p r o d u c t
2005
P lu s: I m p o r ts o f g o o d s a n d
L e s s : C h a n g e in p r iv a t e
i n v e n t o r i e s .................................................
2006
IV
L es s: E x p o rts o f g o o d s a n d
2
P lu s: I m p o r ts o f g o o d s a n d
s e r v i c e s .......................................................
2005
IV
Equals: Final sales to domestic
purchasers..............................
5
Addendum:
7
1 1 2 .9 5 8
1 1 6 .4 4 4
1 1 3 .8 8 3
1 1 5 .4 5 5
1 1 6 .0 6 0
1 1 6 .6 0 9
1 1 7 .6 5 0
F in a l s a l e s o f d o m e s tic p r o d u c t
1 1 2 .7 8 3
1 1 6 .1 1 4
1 1 6 .4 9 8
1 1 6 .9 7 2
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[B i llio n s o f d o l l a r s ]
[B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
Gross domestic product...........
L in e
2006
I
II
III
1 12,455.8 13,244.6 12,730.5 13,008.4 13,197.3 13,322.6 13,449.9
Equals: Gross domestic
purchases...............................
1 ,3 0 3 .1
1 ,4 6 6 .1
1 ,3 5 2 .4
1 ,4 0 5 .4
1 ,4 4 8 .1
1 ,4 8 8 .3
1 ,5 2 2 .7
3
2 ,0 1 9 .9
2 ,2 2 9 .4
2 ,1 2 7 .8
2 ,1 7 0 .6
2 ,2 2 9 .8
2 ,2 9 0 .1
2 ,2 2 6 .9
Equals: Final sales to domestic
purchasers.............................
4
Gross domestic product...........
s e r v i c e s ......................................................
13,172.5 14,007.8 13,505.9 13,773.6 13,979.1 14,124.3 14,154.2
s e r v i c e s .......................................................
Equals: Gross domestic
purchases..............................
2006
I
II
III
IV
1 11,048.6 11,413.6 11,163.8 11,316.4 11,388.1 11,443.5 11,506.5
2
1 ,1 9 6 .1
1 ,3 0 2 .7
1 ,2 2 8 .4
1 ,2 6 9 .3
1 ,2 8 8 .5
1 ,3 1 0 .0
1 ,3 4 3 .1
3
1 ,8 1 5 .3
1 ,9 2 1 .4
1 ,8 6 5 .0
1 ,9 0 5 .9
1 ,9 1 2 .7
1 ,9 3 8 .8
1 ,9 2 8 .1
4
11,659.7 12,026.3 11,792.9 11,946.3 12,005.9 12,066.6 12,086.6
L e s s : C h a n g e in p r iv a t e
1 8 .7
i n v e n t o r i e s ................................................
6 13,151.3 13,959.7 13,457.3 13,726.4 13,916.8 14,060.1 14,135.5
Equals: Final sales to domestic
purchasers..............................
5
2 1 .3
4 8 .1
4 8 .6
4 7 .2
6 2 .3
6 4 .2
5
1 9 .6
4 1 .9
4 3 .5
4 1 .2
5 3 .7
5 5 .4
1 7 .3
6 11,636.1 11,978.1 11,744.6 11,898.7 11,945.9 12,004.7 12,063.2
Addendum:
Addendum:
F in a l s a l e s o f d o m e s tic p r o d u c t
IV
P lu s : I m p o r t s o f g o o d s a n d
L e s s : C h a n g e in p r i v a t e
i n v e n t o r i e s ................................................
2005
L e s s: E x p o r ts o f g o o d s a n d
2
P lu s : I m p o r t s o f g o o d s a n d
s e r v i c e s .......................................................
2006
IV
L es s: E x p o rts o f g o o d s a n d
s e r v i c e s .......................................................
2005
7
1 2 ,4 3 4 .6
1 3 ,1 9 6 .5
1 2 ,6 8 1 .9
1 2 ,9 6 1 .2
1 3 ,1 3 5 .1
1 3 ,2 5 8 .4
1 3 ,4 3 1 .2
F in a l s a l e s o f d o m e s tic p r o d u c t
7
1 1 ,0 2 5 .2
1 1 ,3 6 5 .4
1 1 ,1 1 5 .5
1 1 ,2 6 9 .0
1 1 ,3 2 8 .0
1 1 ,3 8 1 .6
1 1 ,4 8 3 .2
N ote . C h a in e d (2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s t h e p r o d u c t o f t h e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e of t h e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 100. B e c a u s e t h e f o rm u la fo r th e c h a in - ty p e q u a n tity in d e x e s u s e s w e ig h ts
o f m o r e t h a n o n e p e rio d , t h e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e .
March 2007
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 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
Table 1.5.2. Contributions to Percent Change in Real
Gross Domestic Product, Expanded Detail
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
Gross domestic product ...
Personal consumption
expenditures..........................
1
3.2
3.3
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
I
1.8
II
5.6
L in e
III
2.6
3.5
3.2
3
5 .5
5 .0
-1 2 .3
1 9 .8
-
M o to r v e h i c l e s a n d p a r t s ........
4
0.6
1.2
- 3 4 .9
1 8 .9
-
5
10.0
12.2
6
8 .7
5 .6
-
0.8
4.8
2.0
2.2
Percent change at annual rate:
Percentage points at annual
rates:
2.6
2.8
4.2
0.1
1.2
6 .4
4 .4
8.6
- 4 .4
3 .3
6 .7
1 3 .3
F u rn itu re a n d h o u s e h o ld
e q u i p m e n t ......................................
O t h e r .......................................................
N o n d u r a b l e g o o d s ..............................
11.6
6.1
22.8
7
4 .5
3 .7
F o o d ........................................................
8
5 .4
4 .2
4 .1
6 .7
C l o th in g a n d s h o e s ......................
9
6.2
5 .3
1 0 .3
8.6
3 .9
1.6
-3 .7
1 6 .3
5 .9
1 .4
2.0
7 .2
6.0
6.6
1 .5
-0 .7
- 3 .8
5 .5
6 .7
0 .7
5 .0
1.0
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ..............................
O t h e r ......................................................
S e r v i c e s .....................................................
10
11
12
H o u s i n g .................................................
13
H o u s e h o l d o p e r a t i o n ..................
14
E le c tr ic ity a n d g a s .................
15
O th e r h o u s e h o ld o p e ra tio n
16
T r a n s p o r t a t i o n ..................................
17
M e d ic a l c a r e ......................................
- 0 .5
4 .1
2.6
2.8
2.1
2.6
1.8
0.1
-
1.0
- 2 .3
- 1 .3
1.6
3 .7
2 .3
1 .7
2 .3
2 .4
2.0
2.8
2.6
- 0 .4
0 .3
-1 4 .0
8 .4
9 .7
3 .9
- 2 .3
-2 9 .7
1 5 .8
2 1 .9
8 .5
1 .4
2.0
- 0.8
- 0.2
4 .3
6 .4
3 .6
2.6
2.0
1.1
-
1.6
0 .7
1 .7
1 .3
3 .5
2.6
0.8
6.1
2.1
3 .1
3 .0
2.6
1.6
3 .4
18
3 .6
3 .5
3 .7
4 .3
19
2 .7
2.1
1 .5
3 .1
2.0
3 .4
1 .7
3 .2
5.4
4.2
16.2
7.8
7 .5
2 .9
2.8
8.2
7 .3
5 .2
8.8
6.6
12.0
2.8
N o n r e s i d e n t i a l .................................
23
S t r u c t u r e s .....................................
24
6.8
1.1
E q u ip m e n t a n d s o f tw a r e ...
25
8 .9
3 .2
3 .4
20
F i x e d i n v e s t m e n t ..................................
3 .2
0.1
R e c r e a t i o n ..........................................
21
22
6 .9
4 .0
O t h e r ......................................................
Gross private domestic
investment..............................
3 .4
-
1.0
-0.8
-15.6
1.6
-
1.2
10.0
- 8 .5
-
1 3 .7
4 .4
8 .7
2 0 .3
1 5 .7
1 5 .6
- 1 .4
7 .7
- 2 .4
0.8
- 3 .2
e q u ip m e n t a n d
26
8 .5
9 .0
7 .0
2/
1 7 .9
1 6 .6
2 7 .1
21.8
-
1.1
10.0
0.6
4 .7
22.0
6.0
1 .5
C o m p u te r s a n d
2 4 .9
1.......................
28
5 .8
6 .7
2.8
12.2
O t h e r ....................................
29
7 .2
3 .0
3 1 .6
I n d u s t r i a l e q u i p m e n t ......
30
8.1
8.0
6.0
31
1 2 .9
S o ftw a re
1 6 .2
- 3 .6
21.8
6.6
2 7 .7
- 0 .9
- 0 .3
4 .2
8 .3
- 9 .0
9 .3
- 7 .8
1 3 .6
0.2
- 5 .4
T r a n s p o r ta tio n
e q u i p m e n t ........................
O t h e r e q u i p m e n t ..............
2005
1
3.2
2
3.3
2.44
D u r a b l e g o o d s .......................................
3
0 .4 5
M o to r v e h i c l e s a n d p a r t s ........
4
0.02
1.8
2.24
0.53
3.38
2.2
2.0
1.81
1.96
2.88
-1 .0 8
1 .5 0
-
0.01
0 .5 0
0 .3 5
0 .6 0
-0 .0 4
0 .2 8
-0 .1 5
F u rn itu re a n d h o u s e h o ld
e q u i p m e n t .....................................
0.10
0.20
5
0 .2 9
0 .3 6
0 .3 3
0 .6 5
6
0 .1 4
0 .0 9
0.10
0 .2 6
-0 .0 6
0 .0 3
7
0 .9 0
0 .7 7
0 .7 9
1.20
0 .3 0
0 .3 2
1 .1 9
F o o d ..........................................................
8
0 .5 1
0 .4 1
0 .3 9
0 .6 4
0 .1 9
- 0 .0 7
0 .6 2
C l o th in g a n d s h o e s ......................
9
0 .1 7
0 .1 4
0 .2 7
0 .2 3
0.10
0 .1 5
0 .1 8
- 0 .0 6
-0 .0 3
O t h e r ........................................................
N o n d u r a b l e g o o d s ..............................
-
0 .3 8
0.12
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ..............................
O t h e r ........................................................
S e r v i c e s .......................................................
H o u s i n g ..................................................
H o u s e h o l d o p e r a t i o n ...................
10
11
12
-
13
0.01
0.02
0 .1 4
0 .0 3
0 .2 3
0 .2 4
0 .1 9
0 .3 6
0 .1 9
0.11
0 .3 7
1 .0 9
1 .0 6
0 .8 3
0 .6 7
1 .5 2
1 .1 4
1 .3 4
0 .3 0
0 .2 4
0 .1 8
0 .2 4
0 .2 5
0 .2 7
0 .3 3
0.01
-0 .5 8
0 .0 3
-0 .5 8
-
0.02
0.02
14
0 .0 8
-
E le c tr ic ity a n d g a s .................
15
0 .0 4
- 0 .0 4
O th e r h o u s e h o ld o p e ra tio n
16
0 .0 4
0 .0 3
T r a n s p o r t a t i o n ..................................
17
0.00
0 .0 4
M e d ic a l c a r e ......................................
18
0 .4 3
0 .4 2
R e c r e a t i o n ..........................................
19
0 .0 8
0 .0 6
O t h e r ........................................................
20
0.20
0 .3 3
Gross private domestic
investment..............................
-
0 .3 1
0 .3 5
0 .1 5
0 .2 3
0 .3 2
0 .1 3
0.00
0 .0 8
0 .0 4
0.01
0.00
0.10
0 .0 4
0 .0 3
0 .0 9
0 .4 4
0 .5 2
0 .3 1
0 .2 5
0 .0 4
0 .0 9
0.02
0 .0 8
0 .0 7
0 .1 6
0 .3 1
0 .5 8
0 .1 5
0 .3 3
0.17
-0.13
0.02
0 .3 6
21
22
0.87
0.70
2.51
1.31
1 .1 7
0 .4 8
0 .4 6
1 .3 4
- 0 .2 7
N o n r e s i d e n t i a l ...................................
23
0 .6 7
0 .7 4
0 .5 2
1 .3 6
0 .4 5
1.01
- 0 .2 6
S t r u c t u r e s ......................................
24
0 .0 3
0 .2 6
0 .3 1
0 .2 5
0 .5 6
0 .4 6
- 0 .0 3
E q u i p m e n t a n d s o f t w a r e ...
25
0 .6 4
0 .4 8
0.21
1.11
-
0.10
0 .5 5
- 0 .2 4
26
0 .3 0
0 .3 2
0 .2 5
0 .7 4
- 0 .0 4
0 .3 5
0.11
0.10
0.11
0 .1 6
0 .1 5
0 .0 3
0 .1 3
0.01
0 .0 4
0 .1 8
0 .0 7
0 .0 9
0 .1 3
0 .0 4
0 .4 0
- 0 .1 4
0 .1 3
-
0 .0 7
0 .1 9
- 0 .0 5
0 .1 6
0.00
- 0 .0 7
0 .3 1
- 0 .3 2
0 .1 5
- 0 .1 8
0 .0 9
0 .0 5
-
1.20
- 1 .1 6
0 .0 6
-1 .3 5
-0 .1 9
-2.78
- 1 .4 3
0 .4
-
6.6
-
22.8
7 .4
3 .8
- 0 .9
-
11.1
-1 8 .7
-1 9 .1
1 3 .6
-1 4 .0
e q u ip m e n t a n d
s o f t w a r e ..............................
p e rip h e ra l
e q u i p m e n t ...................
27
0.12
1.........................
28
0 .0 9
O t h e r ......................................
29
I n d u s t r i a l e q u i p m e n t ......
30
0.10
0.10
S o ftw a re
7 .0
33
8.6
F a r m ........................................................
35
e q u i p m e n t .........................
31
0 .1 5
0.01
- 0 .3 1
N o n f a r m ................................................
36
O t h e r e q u i p m e n t ................
32
0 .0 9
0 .0 8
0 .0 8
- 0 .2 6
-0 .0 6
'M
- 4 .2
8 .5
E x p o r t s ........................................................
38
6.8
8 .9
9 .6
1 4 .0
G o o d s .....................................................
39
7 .5
1 0 .5
1 1 .5
1 7 .3
5 .4
S e r v i c e s ...............................................
40
5 .1
5 .5
6 .7
I m p o r t s ........................................................
41
6.1
5 .8
1 3 .2
9 .1
G o o d s .....................................................
42
6 .7
5 .9
1 4 .1
9 .4
43
2.8
5 .3
-
7 .4
8 .3
6.2
6.0
6.8
6 .7
0.8
1 5 .5
1 .4
5 .6
-
0.1
7 .1
- 3 .8
9 .9
1 0 .5
9 .4
-
8 .5
2.6
2.2
7 .1
Government consumption
expenditures and gross
investment..............................
44
0.9
2.1
-1.1
4.9
F e d e r a l ........................................................
45
1 .5
2.0
-4 .6
8.8
- 4 .5
N a t i o n a l d e f e n s e ............................
46
1 .7
1 .9
- 9 .9
8 .9
-
47
1.2
1.2
10.8
9 .1
- 4 .1
- 0 .9
G r o s s i n v e s t m e n t ....................
48
5 .5
7 .2
- 3 .1
7 .9
1 4 .1
- 3 .1
N o n d e f e n s e .......................................
49
2.1
1.8
7 .1
8 .5
- 9 .3
6 .5
2.1
1.8
1.0
1.0
2 .7
1 .7
2.1
3 .1
3 .3
3 .4
1 .4
7 .0
1 2 .5
- 3 .1
0.1
C o n s u m p tio n e x p e n d itu re s
50
G r o s s i n v e s t m e n t ....................
51
1.1
0.1
8.1
S t a t e a n d l o c a l .......................................
52
0 .5
C o n s u m p tio n e x p e n d itu re s
53
0 .9
G r o s s i n v e s t m e n t ...........................
54
- 0 .9
3 .8
-
2 .4
4 3 .8
8.1
10.8
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2.0
- 5 .0
-
1.7
3.3
1 .3
4 .4
1.2
6 .5
- 3 2 .9
6 .7
4 .0
1 .9
1 2 .3
1 1 .3
1 9 .0
-
10.2
- 9 .1
-1 7 .3
2.6
0.12
T r a n s p o r ta tio n
0.11
- 0.02
R e s i d e n t i a l ..........................................
33
0 .5 0
C h a n g e in p r i v a t e i n v e n t o r i e s ...
34
- 0 .3 0
0.22
2 .0 5
F a r m ........................................................
35
- 0 .0 6
0 .0 3
0 .1 4
-
N o n f a r m ................................................
36
- 0 .2 4
0.20
1 .9 0
-
Net exports of goods and
services.................................
37
-0.26
-0.03
-1.07
E x p o r t s ........................................................
38
0.68
0 .9 3
0 .9 7
G o o d s .....................................................
39
0 .5 2
0 .7 6
0 .8 0
S e r v i c e s ................................................
40
0 .1 6
0 .1 7
0 .1 7
I m p o r t s ..........................................................
0.8
0.02
C o m p u te r s a n d
32
2.6
IV
- 1 .5 1
34
C o n s u m p tio n e x p e n d itu re s
5.6
III
0 .4 1
R e s i d e n t i a l ..........................................
S e r v i c e s ...............................................
II
- 0 .0 4
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
Net exports of goods and
services.................................
2006
I
I n f o r m a tio n p r o c e s s i n g
p e rip h e ra l
e q u i p m e n t ..................
Personal consumption
expenditures..........................
F i x e d i n v e s t m e n t ...................................
I n f o r m a tio n p r o c e s s i n g
s o f t w a r e ..............................
2006
IV
Gross domestic product....
2
D u r a b l e g o o d s .......................................
2005
IV
- 0 .9 6
-2 .0 4
G o o d s .....................................................
42
- 0 .8 7
- 0 .8 2
- 1 .8 4
S e r v i c e s ................................................
43
- 0 .0 7
- 0 .1 4
-
Government consumption
expenditures and gross
investment..............................
41
- 0 .9 4
0.20
-0.21
- 0 .7 2
-0 .0 3
0.01
0.02
-
0 .4 4
0.01
0.02
-
0 .5 4
0 .0 5
- 1 .3 4
-0.04
0.42
-0.19
1 .4 1
0.66
0 .7 3
1.20
0.21
0 .4 5
0 .7 1
0 .6 5
0.21
0 .0 3
0 .4 8
- 1 .4 6
- 0 .0 9
- 0 .2 4
-1 .2 7
0.01
- 0 .1 9
- 0 .2 5
0.94
-0 .9 3
-
1.00
0 .0 7
0.01
1.50
1 .1 3
0 .3 8
0 .5 6
- 0 .1 8
44
0.17
0.40
0.32
0.62
F e d e r a l ..........................................................
45
0.11
0 .1 4
-0 .3 3
0 .6 1
- 0 .3 2
0 .0 9
0 .3 0
N a t io n a l d e f e n s e ............................
46
0 .0 8
0 .0 9
-0 .4 9
0 .4 1
- 0 .0 9
- 0 .0 6
0 .5 4
C o n s u m p tio n e x p e n d itu r e s
47
0 .0 5
0 .0 5
- 0 .4 7
0 .3 7
- 0 .1 7
-0 .0 4
-
0.16
0 .4 4
G r o s s i n v e s t m e n t ....................
48
0 .0 3
0 .0 4
0.02
0 .0 5
N o n d e f e n s e .......................................
49
0 .0 3
0 .0 5
0 .1 6
0.20
- 0 .2 3
0 .1 5
- 0 .2 4
C o n s u m p tio n e x p e n d itu r e s
50
0.00
0 .0 4
0 .0 5
0 .1 6
0 .1 3
- 0 .1 9
G r o s s i n v e s t m e n t ....................
51
0.02
0.01
0.11
0 .0 3
0.10
- 0.12
0.02
- 0 .0 5
S t a t e a n d l o c a l .......................................
52
0 .0 6
0 .2 6
0 .1 3
0 .3 3
0 .4 8
0 .2 3
0 .0 8
0 .1 8
0 .0 9
0 .1 7
0.20
0.02
0 .0 8
0 .0 3
0 .1 6
0 .2 8
C o n s u m p t i o n e x p e n d i t u r e s ...
53
G r o s s i n v e s t m e n t ...........................
54
-
1 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
0 .0 8
-
-
0.02
0 .3 0
-0 .0 8
0.11
0 .3 2
0 .3 2
0.00
D-10
National Data
March 2007
Table 1.5.3. Real Gross Domestic Product, Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product, Expanded Detail
[Index numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Gross domestic product . ..
Personal consumption
expenditures..........................
S e a s o n a lly a d ju s te d
2006
I
II
L in e
III
2005
2006
IV
1 112.546 116.264 113.719 115.274 116.004 116.569 117.210
Gross domestic product....
Personal consumption
expenditures..........................
2005
2006
IV
I
II
III
IV
114.048
114.967
115.905
116.446
116.924
2 111.493 114.563 112.873 113.445 114.573 115.241
114.991
1 112.744 116.061
2 116.349 120.057 117.373 118.761
119.521
120.355
D u r a b l e g o o d s .......................................
3
1 3 2 .6 6 6
1 3 9 .3 2 8
1 3 1 .7 9 9
1 3 7 .8 9 3
1 3 7 .8 6 8
1 4 0 .0 1 9
1 4 1 .5 3 0
D u r a b l e g o o d s .......................................
3
9 0 .1 9 8
8 8 .9 8 1
8 9 .6 0 6
8 9 .3 8 5
8 9 .2 0 6
8 8 .9 6 7
8 8 .3 6 6
M o to r v e h i c l e s a n d p a r t s ........
4
1 1 7 .1 7 3
1 1 5 .7 5 3
1 1 0 .2 8 6
1 1 5 .1 5 8
1 1 4 .7 9 9
1 1 7 .1 7 9
1 1 5 .8 7 7
M o to r v e h i c l e s a n d p a r t s ........
4
9 8 .9 6 7
9 9 .4 0 0
9 8 .9 0 6
9 9 .4 6 0
9 9 .5 3 2
9 9 .6 3 1
9 8 .9 8 0
121.590
F u r n itu re a n d h o u s e h o ld
e q u i p m e n t ......................................
F u rn itu re a n d h o u s e h o ld
1 7 5 .9 5 7
1 6 3 .4 7 2
1 7 2 .0 9 7
1 7 3 .4 9 6
1 7 6 .3 2 4
6
1 2 9 .6 9 6
1 3 6 .9 3 9
1 3 1 .9 5 8
1 3 7 .0 3 9
1 3 5 .7 5 4
1 3 6 .2 9 2
1 3 8 .6 7 2
O t h e r ........................................................
7
1 1 6 .9 2 4
1 2 1 .3 0 8
1 1 8 .6 0 8
1 2 0 .3 1 3
1 2 0 .7 4 2
1 2 1 .2 0 4
1 2 2 .9 7 4
N o n d u r a b l e g o o d s ..............................
F o o d ........................................................
8
1 1 5 .1 9 1
1 2 0 .0 7 5
1 1 7 .3 4 9
1 1 9 .2 6 5
1 1 9 .8 5 3
1 1 9 .6 3 1
1 2 1 .5 5 2
C l o th in g a n d s h o e s ......................
9
1 2 5 .1 9 5
1 3 1 .8 5 0
1 2 8 .6 8 6
1 3 1 .3 6 7
1 3 0 .1 1 3
1 3 1 .8 7 6
1 3 4 .0 4 5
O t h e r .......................................................
N o n d u r a b l e g o o d s ..............................
5
1 5 6 .7 9 0
1 8 1 .9 1 1
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ..............................
O t h e r .......................................................
S e r v i c e s .....................................................
H o u s i n g .................................................
e q u i p m e n t ......................................
5
6
7 6 .8 8 4
7 3 .4 6 6
7 5 .4 3 5
7 4 .6 7 1
7 3 .8 9 4
7 3 .0 4 6
7 2 .2 5 2
9 7 .6 8 8
9 8 .4 6 4
9 8 .0 0 5
9 7 .5 6 7
9 8 .3 5 1
9 8 .9 5 0
9 8 .9 8 7
7
1 1 1 .5 3 0
1 1 4 .9 5 9
1 1 3 .1 7 7
1 1 3 .4 8 4
1 1 5 .7 6 9
1 1 6 .4 4 2
1 1 4 .1 4 1
F o o d ..........................................................
8
1 1 2 .7 3 2
1 1 5 .3 3 3
1 1 3 .6 4 2
1 1 4 .4 1 4
1 1 4 .9 0 5
1 1 5 .7 2 7
1 1 6 .2 8 4
C l o th in g a n d s h o e s ......................
9
9 1 .7 0 6
9 1 .3 5 0
9 1 .1 0 1
9 0 .8 7 0
9 1 .6 5 1
9 1 .3 4 2
9 1 .5 3 6
1 5 1 .4 2 3
1 7 0 .9 9 2
1 6 3 .6 1 2
1 6 1 .1 2 6
1 8 2 .6 3 2
1 8 5 .6 2 1
1 5 4 .5 8 8
1 0 7 .7 7 5
1 0 9 .7 8 6
1 0 8 .6 1 9
1 0 9 .3 0 1
1 0 9 .7 3 7
1 1 0 .0 4 1
1 1 0 .0 6 4
1 1 6 .5 2 9
1 2 0 .5 2 1
1 1 8 .2 8 1
1 1 9 .1 9 4
1 2 0 .0 5 9
1 2 0 .9 6 0
1 2 1 .8 6 9
G a s o l i n e , f u e l o il, a n d o t h e r
10
11
12
1 0 4 .2 0 4
1 0 3 .1 8 4
1 2 0 .8 3 8
1 2 5 .9 7 5
1 2 2 .4 3 2
1 1 2 .9 2 5
1 1 5 .8 1 0
1 1 3 .9 4 5
13
1 1 1 .5 4 0
1 1 4 .1 2 9
1 1 2 .3 9 4
1 0 2 .6 7 9
1 0 2 .5 3 2
1 0 3 .7 9 5
1 2 4 .3 5 6
1 2 5 .4 0 9
1 2 6 .0 1 6
1 2 8 .1 2 1
O t h e r ........................................................
1 1 4 .3 9 8
1 1 5 .4 4 0
1 1 6 .2 3 4
1 1 7 .1 6 7
S e r v i c e s .......................................................
1 0 2 .3 4 8
1 0 4 .0 6 1
e n e r g y g o o d s ..............................
10
11
12
1 1 3 .0 3 5
1 1 3 .7 1 3
1 1 4 .4 3 6
1 1 5 .3 3 2
H o u s i n g ................................................
13
1 1 6 .1 6 5
1 2 0 .3 2 7
1 1 7 .2 7 9
1 1 8 .2 6 9
1 1 9 .7 1 7
1 2 1 .0 5 5
1 2 2 .2 6 8
H o u s e h o l d o p e r a t i o n .................
14
1 0 7 .1 4 5
1 0 6 .7 0 4
1 0 7 .5 9 8
1 0 3 .6 2 8
1 0 5 .7 3 5
1 0 8 .2 0 3
1 0 9 .2 4 9
H o u s e h o l d o p e r a t i o n ...................
14
1 1 5 .5 5 4
1 2 1 .6 9 0
1 2 0 .5 7 9
1 2 2 .4 0 3
1 2 1 .0 1 9
1 2 1 .3 8 3
1 2 1 .9 5 6
E le c tr ic ity a n d g a s ..................
15
1 0 7 .3 1 7
1 0 4 .8 0 2
1 0 7 .9 6 3
9 8 .8 7 5
1 0 2 .5 6 6
1 0 7 .7 7 0
1 0 9 .9 9 9
E le c tr ic ity a n d g a s .................
15
1 2 9 .9 0 0
1 4 1 .7 1 8
1 4 2 .1 6 9
1 4 5 .5 8 2
1 4 0 .7 9 9
1 4 0 .3 1 8
1 4 0 .1 7 3
O th e r h o u s e h o ld o p e ra tio n
16
1 0 7 .0 1 6
1 0 8 .2 2 9
1 0 7 .3 2 0
1 0 7 .2 8 9
1 0 8 .1 9 0
1 0 8 .6 2 9
1 0 8 .8 0 7
O th e r h o u s e h o ld o p e ra tio n
16
1 0 7 .2 3 3
1 0 9 .9 9 6
1 0 8 .0 4 7
1 0 8 .9 7 7
1 0 9 .4 4 7
1 1 0 .2 8 5
1 1 1 .2 7 6
17
9 7 .6 5 2
9 8 .9 8 9
9 7 .3 3 0
9 8 .2 9 8
9 8 .7 2 2
9 9 .0 4 4
9 9 .8 9 1
T r a n s p o r t a t i o n ..................................
17
1 1 2 .6 6 3
1 1 6 .8 9 5
1 1 4 .9 7 0
1 1 5 .4 1 1
1 1 6 .8 2 6
1 1 7 .6 7 5
1 1 7 .6 7 0
M e d ic a l c a r e ......................................
T r a n s p o r t a t i o n ..................................
M e d i c a l c a r e ......................................
18
1 2 2 .7 9 9
1 2 7 .0 5 8
1 2 4 .5 6 3
1 2 5 .8 8 7
1 2 6 .6 9 0
1 2 7 .3 4 7
1 2 8 .3 1 0
18
1 1 8 .4 3 8
1 2 1 .7 5 3
1 1 9 .9 4 9
1 2 0 .4 8 2
1 2 1 .3 3 2
1 2 2 .1 8 0
1 2 3 .0 1 9
R e c r e a t i o n ..........................................
19
1 1 6 .7 2 7
1 1 9 .1 4 5
1 1 7 .4 4 5
1 1 8 .3 3 6
1 1 8 .5 8 1
1 1 9 .4 4 8
1 2 0 .2 1 5
R e c r e a t i o n ..........................................
19
1 1 5 .1 6 8
1 1 8 .6 4 1
1 1 6 .7 0 2
1 1 7 .3 1 1
1 1 8 .5 8 2
1 1 9 .4 2 5
1 1 9 .2 4 4
O t h e r .......................................................
20
1 0 9 .5 4 0
1 1 3 .2 2 6
1 1 0 .6 3 4
1 1 1 .5 2 1
1 1 3 .1 7 5
1 1 3 .6 2 2
1 1 4 .5 8 6
O t h e r ........................................................
20
1 1 6 .6 2 5
1 2 0 .4 6 9
1 1 7 .9 5 9
1 1 9 .1 1 6
1 1 9 .9 7 0
1 2 0 .7 1 1
1 2 2 .0 8 0
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ..................................
21 107.537 112.079 111.034 113.143 113.429 113.215 108.530
22 1 0 9 . 7 0 8 1 1 2 . 9 0 1 1 1 1 . 8 1 1 1 1 4 . 0 3 3 1 1 3 . 5 7 0 1 1 3 . 2 4 0 1 1 0 . 7 6 0
Gross private domestic
investment.............................
F i x e d i n v e s t m e n t ...................................
21 110.284 113.817 111.853 112.860 113.717 113.895 114.798
22 1 1 0 . 5 4 2 1 1 4 . 1 6 1 1 1 2 . 1 9 4 1 1 3 . 2 3 8 1 1 4 . 0 7 4 1 1 4 . 2 2 4 1 1 5 . 1 0 9
N o n r e s i d e n t i a l .................................
23
1 0 7 .6 2 3
N o n r e s i d e n t i a l ...................................
23
1 0 3 .4 2 8
1 0 6 .3 5 9
1 0 4 .5 1 0
1 0 5 .4 7 1
1 0 6 .2 6 6
1 0 6 .5 0 1
1 0 7 .1 9 8
S t r u c t u r e s ......................................
24
8 0 .3 0 2
8 7 .4 0 4
8 1 .1 7 4
8 2 .8 9 3
8 6 .8 1 9
9 0 .0 4 4
8 9 .8 6 0
S t r u c t u r e s ......................................
24
1 3 4 .6 4 7
1 4 9 .9 6 7
1 4 1 .4 7 6
1 4 5 .6 8 4
1 4 9 .4 3 2
1 5 1 .3 7 2
1 5 3 .3 8 0
E q u ip m e n t a n d s o f tw a r e
25
1 0 7 .1 8 0
1 1 4 .2 4 1
1 0 9 .6 5 3
1 1 3 .7 0 4
1 1 3 .3 1 3
1 1 5 .4 3 4
1 1 4 .5 1 4
E q u ip m e n t a n d s o f tw a r e ...
25
9 4 .1 3 4
9 3 .8 8 9
9 3 .7 5 4
9 3 .8 8 7
9 3 .9 2 0
9 3 .7 0 4
9 4 .0 4 6
26
8 2 .2 1 8
8 0 .5 4 1
8 1 .3 1 3
8 0 .9 4 0
8 0 .7 3 7
8 0 .4 3 8
8 0 .0 4 8
4 5 .4 4 3
9 9 .3 2 6
1 0 6 .5 6 5
1 0 1 .3 0 8
1 0 4 .6 0 6
1 0 5 .7 3 8
1 0 8 .2 9 2
I n f o r m a tio n p r o c e s s i n g
I n f o r m a tio n p r o c e s s i n g
e q u ip m e n t a n d
s o f t w a r e ..............................
e q u ip m e n t a n d
26
1 1 8 .1 6 9
1 2 8 .7 5 5
1 2 1 .3 0 7
1 2 7 .4 3 7
1 2 7 .0 8 8
1 3 0 .1 5 6
1 3 0 .3 4 0
s o f t w a r e ..............................
C o m p u te r s a n d
C o m p u te r s a n d
p e rip h e ra l
p e rip h e ra l
e q u i p m e n t .................
2/
1 6 3 .2 6 9
1 9 0 .3 4 4
1 7 3 .9 1 3
1 8 3 .8 3 9
1 8 5 .9 5 6
1 9 5 .4 3 7
1 9 6 .1 4 3
e q u i p m e n t ...................
2/
5 1 .4 0 7
4 4 .8 1 8
4 8 .6 3 4
4 7 .1 2 5
4 3 .8 8 9
4 2 .8 1 7
1.........................
28
9 4 .0 6 7
9 4 .9 8 6
9 4 .0 0 9
9 4 .4 3 0
9 5 .0 0 5
9 5 .3 5 4
9 5 .1 5 5
O t h e r ....................................
29
9 0 .4 9 2
9 0 .5 6 9
9 0 .3 4 3
9 0 .1 8 6
9 0 .5 2 3
9 0 .7 3 7
9 0 .8 3 2
30
1 0 8 .0 6 4
1 1 1 .0 6 8
1 0 8 .9 7 3
1 0 9 .6 5 9
1 1 0 .5 4 4
1 1 1 .7 1 5
1 1 2 .3 5 5
1........................
28
1 1 7 .0 7 2
1 2 4 .8 7 8
1 1 8 .9 2 0
1 2 2 .3 8 3
1 2 3 .6 5 8
1 2 5 .4 6 8
1 2 8 .0 0 4
S o ftw a re
O t h e r ....................................
29
1 0 1 .8 8 0
1 1 0 .0 6 4
1 0 3 .9 4 7
1 1 1 .3 3 9
1 0 8 .7 5 3
1 1 1 .2 0 5
1 0 8 .9 5 8
I n d u s tr ia l e q u i p m e n t .......
30
9 0 .1 4 7
9 5 .5 7 5
9 4 .4 6 8
9 3 .6 0 2
9 6 .6 4 0
9 6 .6 9 1
9 5 .3 6 6
I n d u s t r i a l e q u i p m e n t ......
S o ftw a re
T r a n s p o r ta tio n
T r a n s p o r ta tio n
e q u i p m e n t ........................
31
9 0 .3 8 2
9 0 .7 7 1
8 9 .0 3 0
9 4 .6 3 5
8 8 .6 9 8
9 1 .5 7 1
e q u i p m e n t .........................
31
1 0 8 .8 8 2
1 0 8 .5 3 0
1 0 7 .9 3 3
1 0 8 .8 6 7
1 0 9 .2 5 7
1 0 6 .8 9 4
1 0 9 .1 0 3
O t h e r e q u i p m e n t ..............
32
1 1 2 .2 9 0
1 1 9 .6 7 8
1 1 5 .2 2 4
1 1 7 .5 9 7
1 1 9 .7 0 2
1 2 0 .8 3 7
1 2 0 .5 7 8
O t h e r e q u i p m e n t ................
32
1 0 8 .1 7 4
1 1 0 .3 1 8
1 0 9 .1 0 0
1 0 9 .8 4 1
1 0 9 .6 0 8
1 1 0 .3 3 9
1 1 1 .4 8 6
R e s i d e n t i a l ..........................................
33
1 3 6 .0 5 0
1 3 0 .3 4 4
1 3 8 .4 9 5
1 3 8 .3 9 1
1 3 4 .3 6 8
1 2 7 .6 0 1
1 2 1 .0 1 5
R e s i d e n t i a l ..........................................
33
1 2 6 .7 1 4
1 3 1 .7 7 4
1 2 9 .5 3 6
1 3 0 .7 6 5
1 3 1 .6 9 6
1 3 1 .6 5 5
1 3 2 .9 8 1
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
34
C h a n g e in p r i v a t e i n v e n t o r i e s ...
34
1 1 3 .3 9 0
8 8 .1 8 0
SS
'■iS
N o n f a r m ................................................
Net exports of goods and
services.................................
Net exports of goods and
services.................................
M
‘
3fi
‘M
E x p o r t s ........................................................
38
1 0 9 .1 0 5
1 1 8 .8 3 1
1 1 2 .0 5 4
1 1 5 .7 8 3
1 1 7 .5 3 6
1 1 9 .4 9 5
1 2 2 .5 1 0
E x p o r t s ........................................................
38
1 0 8 .9 4 9
1 1 2 .5 4 0
1 1 0 .1 0 8
1 1 0 .7 3 7
1 1 2 .4 0 0
1 1 3 .6 3 1
G o o d s .....................................................
39
1 0 7 .5 0 7
1 1 8 .7 5 5
1 1 1 .0 2 7
1 1 5 .5 3 5
1 1 7 .2 2 8
1 1 9 .8 9 8
1 2 2 .3 5 9
G o o d s .....................................................
39
1 0 7 .6 2 8
1 1 1 .1 5 6
1 0 8 .4 5 0
1 0 9 .1 9 2
1 1 0 .8 5 2
1 1 2 .2 8 6
S e r v i c e s ...............................................
40
1 1 3 .1 1 8
1 1 9 .2 0 4
1 1 4 .6 9 3
1 1 6 .5 6 4
1 1 8 .4 6 3
1 1 8 .7 1 2
1 2 3 .0 7 7
S e r v i c e s ................................................
40
1 1 2 .1 1 5
1 1 5 .8 2 2
1 1 4 .0 8 0
1 1 4 .4 3 0
1 1 6 .0 9 8
1 1 6 .8 1 5
1 1 5 .9 4 3
I m p o r t s ........................................................
G o o d s .....................................................
41
42
1 2 3 .0 0 7
1 2 6 .3 7 7
1 2 9 .1 4 6
I m p o r t s ..........................................................
G o o d s .....................................................
1 1 6 .0 4 8
1 1 4 .5 2 8
1 1 2 .7 9 0
1 1 3 .9 1 8
1 1 2 .3 3 1
1 1 6 .6 0 8
1 1 5 .1 9 7
1 1 8 .1 4 3
1 1 6 .8 2 4
1 1 5 .5 2 2
42
1 1 1 .2 6 8
1 0 9 .6 2 2
1 1 4 .1 1 7
1 3 1 .2 3 6
1 3 1 .3 7 8
1 3 3 .5 0 3
41
1 2 8 .3 3 1
1 2 9 .6 0 8
1 3 1 .2 1 8
1 3 0 .6 5 4
1 2 4 .6 4 0
1 3 0 .1 9 7
1 3 2 .0 4 2
S e r v i c e s ...............................................
43
1 1 5 .1 7 0
1 2 1 .3 0 8
1 1 6 .9 5 4
1 1 9 .0 5 5
1 2 1 .8 9 6
121.100
1 2 3 .1 8 3
S e r v i c e s ................................................
43
1 1 9 .9 3 3
1 2 3 .9 6 4
1 2 0 .9 1 3
1 2 2 .2 4 2
1 2 3 .8 9 0
1 2 4 .8 7 6
1 2 4 .8 4 9
Government consumption
expenditures and gross
investment..............................
44
1 3 2 .2 1 1
1 1 2 .2 9 6
1 1 3 .7 6 1
Government consumption
expenditures and gross
investment.............................
44
113.731
114.048
115.423
115.657
116.136
117.073
121.183
126.468
123.444
124.791
126.262
127.150
127.671
F e d e r a l ........................................................
45
1 2 5 .7 0 1
1 2 8 .1 7 4
1 2 6 .0 5 3
1 2 8 .7 2 8
1 2 7 .2 6 2
1 2 7 .6 6 9
1 2 9 .0 3 7
F e d e r a l ..........................................................
45
1 2 0 .7 2 6
1 2 4 .8 9 1
1 2 1 .4 7 9
1 2 3 .7 2 1
1 2 4 .8 7 1
1 2 5 .4 8 2
1 2 5 .4 9 0
N a t i o n a l d e f e n s e ............................
46
1 3 0 .5 9 3
1 3 3 .0 7 3
1 3 0 .0 0 2
1 3 2 .8 0 8
1 3 2 .1 4 1
1 3 1 .7 4 0
1 3 5 .6 0 5
N a t i o n a l d e f e n s e ............................
46
1 2 1 .8 5 5
1 2 6 .0 1 9
1 2 2 .7 6 0
1 2 4 .7 5 2
1 2 6 .0 0 6
1 2 6 .7 1 4
1 2 6 .6 0 3
C o n s u m p tio n e x p e n d itu re s
47
1 2 8 .5 5 1
1 3 0 .0 4 4
1 2 7 .5 4 4
1 3 0 .3 4 3
1 2 8 .9 8 1
1 2 8 .6 8 1
1 3 2 .1 7 1
C o n s u m p tio n e x p e n d itu re s
47
1 2 5 .0 7 1
1 2 9 .6 4 2
1 2 6 .0 6 1
1 2 8 .3 2 7
1 2 9 .6 8 1
1 3 0 .3 7 5
1 3 0 .1 8 6
G r o s s i n v e s t m e n t ....................
48
1 4 5 .9 2 0
1 5 6 .4 6 9
1 4 8 .7 0 3
1 5 1 .5 4 4
1 5 6 .6 3 1
1 5 5 .3 9 7
1 6 2 .3 0 3
G r o s s i n v e s t m e n t ....................
48
1 0 1 .6 2 8
1 0 3 .4 0 5
1 0 2 .0 2 6
1 0 2 .4 3 8
1 0 3 .1 0 9
1 0 3 .8 8 0
1 0 4 .1 9 1
N o n d e f e n s e .......................................
49
1 1 6 .8 9 6
1 1 9 .3 6 4
1 1 8 .9 7 1
1 2 1 .4 1 1
1 1 7 .1 8 6
N o n d e f e n s e .......................................
49
1 1 8 .6 0 6
1 2 2 .7 6 9
1 2 1 .7 8 7
1 2 2 .7 3 6
1 2 3 .1 5 4
1 2 3 .4 0 0
C o n s u m p tio n e x p e n d itu r e s
50
1 1 6 .5 9 3
1 1 8 .7 4 7
1 1 7 .3 6 2
1 1 9 .6 6 6
1 1 8 .1 3 7
1 2 0 .0 0 6
1 1 7 .1 7 9
C o n s u m p tio n e x p e n d itu re s
50
1 2 1 .3 8 1
1 2 5 .9 9 5
1 2 1 .8 1 0
1 2 4 .9 4 4
1 2 5 .9 5 8
1 2 6 .4 2 2
1 2 6 .6 5 8
G r o s s i n v e s t m e n t .....................
51
1 1 9 .6 7 0
1 2 4 .1 9 6
1 3 0 .8 0 1
1 3 4 .2 0 1
1 2 1 .4 4 8
1 2 3 .4 2 7
1 1 7 .7 0 7
G r o s s i n v e s t m e n t ....................
51
1 0 1 .9 1 3
1 0 3 .6 2 9
1 0 2 .4 7 0
1 0 3 .0 3 5
1 0 3 .6 2 3
1 0 3 .7 8 0
1 0 4 .0 7 8
S t a t e a n d l o c a l .......................................
52
1 0 7 .6 6 0
1 0 9 .9 3 0
1 0 7 .9 5 4
1 0 8 .6 8 2
1 0 9 .7 6 2
1 1 0 .2 7 7
111.000
S t a t e a n d l o c a l .......................................
52
1 2 1 .4 6 3
1 2 7 .4 1 1
1 2 4 .6 2 0
1 2 5 .4 3 4
1 2 7 .0 9 5
1 2 8 .1 4 7
1 2 8 .9 6 9
C o n s u m p tio n e x p e n d itu re s
53
1 0 7 .6 5 5
1 0 9 .6 0 2
1 0 8 .0 7 4
1 0 8 .5 3 6
1 0 9 .0 9 5
1 0 9 .9 4 4
1 1 0 .8 3 3
C o n s u m p tio n e x p e n d itu r e s ...
53
1 2 2 .1 7 7
1 2 8 .0 3 5
1 2 5 .3 6 5
1 2 6 .1 1 2
1 2 7 .9 1 6
1 2 8 .8 3 8
1 2 9 .2 7 5
G r o s s i n v e s t m e n t ...........................
54
1 0 7 .5 6 3
1 1 1 .1 9 3
1 0 7 .3 3 5
1 0 9 .1 7 7
1 1 2 .4 4 8
1 1 1 .5 5 8
1 1 1 .5 9 0
G r o s s i n v e s t m e n t ...........................
54
1 1 8 .6 7 9
1 2 4 .9 9 7
1 2 1 .7 1 6
1 2 2 .7 9 9
1 2 3 .8 9 3
1 2 5 .4 6 2
1 2 7 .8 3 5
116.072
1. Excludes software “embedded,” or bundled, in computers and other equipment.
1 1 8 .4 8 8
1 2 0 .3 7 0
1 1 9 .0 5 9
1. Excludes software “embedded," or bundled, in computers and other equipment.
March 2007
D-11
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.5. 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]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2006
2005
IV
I
II
L in e
III
2006
2005
Gross domestic product....
2006
I
IV
IV
1 12,455.8 13,244.6 12,730.5 13,008.4 13,197.3 13,322.6 13,449.9
Gross domestic product . ..
2005
III
II
IV
1 11,048.6 11,413.6 11,163.8 11,316.4 11,388.1 11,443.5 11,506.5
2
8,742.4
9,269.0
8,927.8
9,079.2
9,228.1
9,346.7
9,422.1
Personal consumption
expenditures..........................
2
7,841.2
8,091.1
7,910.2
8,003.8
8,055.0
8,111.2
8,194.4
D u r a b l e g o o d s .......................................
3
1 ,0 3 3 .1
1 ,0 7 0 .3
1 ,0 1 9 .6
1 ,0 6 4 .1
1 ,0 6 1 .8
1 ,0 7 5 .5
1 ,0 7 9 .8
D u r a b l e g o o d s .......................................
3
1 ,1 4 5 .3
1 ,2 0 2 .9
1 ,1 3 7 .9
1 ,1 9 0 .5
1 ,1 9 0 .3
1 ,2 0 8 .8
1 ,2 2 1 .9
M o to r v e h i c l e s a n d p a r t s ........
4
4 4 8 .2
4 4 4 .7
4 2 1 .6
4 4 2 .7
4 4 1 .7
4 5 1 .3
4 4 3 .3
M o to r v e h i c l e s a n d p a r t s ........
4
4 5 2 .9
4 4 7 .4
4 2 6 .3
4 4 5 .1
4 4 3 .7
4 5 2 .9
4 4 7 .9
5 4 2 .9
5 5 1 .7
5 6 9 .2
Personal consumption
expenditures..........................
F u rn itu re a n d h o u s e h o ld
F u rn itu re a n d h o u s e h o ld
e q u i p m e n t ......................................
O t h e r .......................................................
N o n d u r a b l e g o o d s ..............................
F o o d ........................................................
C l o t h i n g a n d s h o e s ......................
5
3 7 7 .2
4 0 4 .6
3 8 6 .0
4 0 2 .3
6
2 0 7 .7
221.0
212.0
2 1 9 .1
4 0 1 .3
4 0 3 .2
4 1 1 .5
e q u i p m e n t ......................................
2 1 8 .8
221.0
2 2 5 .0
O t h e r ........................................................
7
2 ,5 3 9 .3
2 ,7 1 5 .0
2 ,6 1 3 .5
2 ,6 5 8 .2
2 ,7 2 1 .4
2 ,7 4 7 .7
2 ,7 3 2 .7
N o n d u r a b l e g o o d s ..............................
8
1 ,2 0 1 .4
1 ,2 8 1 .2
1 ,2 3 3 .7
1 ,2 6 2 .3
1 ,2 7 4 .0
1 ,2 8 0 .7
1 ,3 0 7 .6
F o o d ..........................................................
C l o th in g a n d s h o e s ......................
5 1 1 .5
2 2 4 .4
2 1 6 .3
2 2 4 .6
2 2 2 .5
2 2 3 .4
2 2 7 .3
7
2 ,2 7 6 .8
2 ,3 6 2 .1
2 ,3 0 9 .6
2 ,3 4 2 .8
2 ,3 5 1 .1
2 ,3 6 0 .1
2 ,3 9 4 .6
8
1 ,0 6 5 .7
1 ,1 1 0 .9
1 ,0 8 5 .7
1 ,1 0 3 .4
1 ,1 0 8 .8
1 ,1 0 6 .8
1 ,1 2 4 .6
3 9 9 .1
3 7 2 .7
3 9 2 .5
3 8 3 .1
3 9 1 .1
3 8 7 .4
3 9 2 .6
1 9 9 .5
1 9 7 .6
1 9 6 .6
1 9 6 .0
1 9 6 .3
1 9 8 .7
6 4 3 .9
6 7 1 .3
6 5 2 .4
6 6 2 .6
6 6 8 .3
6 7 1 .5
6 8 2 .7
4 ,4 3 6 .6
4 ,5 5 0 .0
4 ,4 7 6 .7
4 ,4 9 4 .5
4 ,5 3 5 .4
4 ,5 6 6 .6
4 ,6 0 3 .3
H o u s i n g ..................................................
13
1, 122.6
1 ,1 4 8 .7
1 ,1 3 1 .2
1 ,1 3 7 .6
1 ,1 4 4 .5
1 ,1 5 1 .7
1 ,1 6 0 .8
H o u s e h o l d o p e r a t i o n ...................
14
4 1 8 .0
4 1 6 .3
4 1 9 .8
4 0 4 .3
4 1 2 .5
4 2 2 .1
4 2 6 .2
E le c tr ic ity a n d g a s .................
15
1 5 3 .8
1 5 0 .2
1 5 4 .7
1 4 1 .7
1 4 7 .0
1 5 4 .4
1 5 7 .6
2 9 8 .8
O th e r h o u s e h o ld o p e ra tio n
16
2 6 4 .1
2 6 7 .1
2 6 4 .9
2 6 4 .8
2 6 7 .0
2 6 8 .1
2 6 8 .5
3 5 8 .6
3 4 9 .1
3 5 5 .4
3 5 5 .1
3 5 8 .7
3 6 5 .3
3 0 2 .1
3 3 8 .3
3 2 2 .1
3 1 6 .2
3 5 9 .1
3 6 9 .4
3 0 8 .5
6 9 4 .0
7 3 6 .9
7 0 8 .6
7 2 4 .2
7 3 3 .3
7 3 8 .9
7 5 1 .4
O t h e r ........................................................
5 ,1 7 0 .0
5 ,4 8 3 .7
5 ,2 9 4 .7
5 ,3 5 6 .8
5 ,4 4 4 .9
5 ,5 2 3 .5
5 ,6 0 9 .6
S e r v i c e s .......................................................
H o u s i n g .................................................
13
1 ,3 0 4 .1
1 ,3 8 2 .2
1 ,3 2 6 .6
1 ,3 4 5 .4
1 ,3 7 0 .1
1 ,3 9 4 .2
1 ,4 1 9 .2
H o u s e h o l d o p e r a t i o n .................
14
4 8 3 .0
5 0 6 .5
5 0 6 .1
4 9 4 .8
4 9 9 .1
5 1 2 .3
5 1 9 .7
E le c tr ic ity a n d g a s .................
15
1 9 9 .8
2 1 2 .7
2 1 9 .9
2 0 6 .2
2 0 6 .9
2 1 6 .6
2 2 0 .9
O th e r h o u s e h o ld o p e ra tio n
16
2 8 3 .2
2 9 3 .8
2 8 6 .2
2 8 8 .6
2 9 2 .2
2 9 5 .7
O t h e r .......................................................
5 5 0 .6
212.6
9
3 4 1 .8
S e r v i c e s .......................................................
4 9 0 .6
6
10
11
12
9
10
11
12
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ..............................
5
5 3 8 .5
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ..............................
1 9 9 .3
T r a n s p o r t a t i o n ..................................
17
3 2 0 .4
3 3 7 .1
3 2 5 .9
3 3 0 .4
3 3 5 .9
3 3 9 .5
3 4 2 .4
T r a n s p o r t a t i o n ..................................
17
2 8 4 .4
2 8 8 .3
2 8 3 .5
2 8 6 .3
2 8 7 .5
2 8 8 .5
2 9 0 .9
M e d ic a l c a r e ......................................
18
1 ,4 9 3 .4
1 ,5 8 8 .4
1 ,5 3 4 .0
1 ,5 5 7 .2
1 ,5 7 8 .2
1 ,5 9 7 .5
1 ,6 2 0 .6
M e d ic a l c a r e ......................................
18
1 ,2 6 0 .9
1 ,3 0 4 .7
1 ,2 7 9 .0
1 ,2 9 2 .6
1 ,3 0 0 .9
1 ,3 0 7 .6
1 ,3 1 7 .5
R e c r e a t i o n ..........................................
19
3 6 0 .6
3 7 9 .2
3 6 7 .7
3 7 2 .4
3 7 7 .2
3 8 2 .7
3 8 4 .5
R e c r e a t i o n ..........................................
19
3 1 3 .1
3 1 9 .6
3 1 5 .1
3 1 7 .5
3 1 8 .1
3 2 0 .4
3 2 2 .5
O t h e r .......................................................
20
1 ,2 0 8 .4
1 ,2 9 0 .3
1 ,2 3 4 .4
1 ,2 5 6 .5
1 ,2 8 4 .3
1 ,2 9 7 .3
1 ,3 2 3 .2
O t h e r ........................................................
20
1 ,0 3 6 .2
1 ,0 7 1 .1
1 ,0 4 6 .5
1 ,0 5 4 .9
1 ,0 7 0 .6
1 ,0 7 4 .8
1 ,0 8 3 .9
21
22
1,866.3
Gross private domestic
investment..............................
Gross private domestic
investment..............................
21
22
2,057.4
2,211.6
2,154.5
2,214.8
2,237.1
2,235.5
2,159.0
1,945.1
1,927.0
1,963.6
1,968.5
1,964.8
1,883.5
2 ,0 3 6 .2
2 ,1 6 3 .5
2 ,1 0 5 .8
2 ,1 6 7 .7
2 ,1 7 4 .8
2 ,1 7 1 .4
2 ,1 4 0 .2
F i x e d i n v e s t m e n t ...................................
1 ,8 4 2 .0
1 ,8 9 5 .6
1 ,8 7 7 .3
1 ,9 1 4 .6
1 ,9 0 6 .8
1 ,9 0 1 .3
1 ,8 5 9 .6
N o n r e s i d e n t i a l .................................
23
1 ,2 6 5 .7
1 ,3 9 6 .4
1 ,3 0 4 .3
1 ,3 5 9 .2
1 ,3 8 4 .3
1 ,4 2 0 .8
1 ,4 2 1 .3
N o n r e s i d e n t i a l ...................................
23
1 ,2 2 3 .8
1 ,3 1 3 .0
1 ,2 4 8 .2
1 ,2 8 8 .8
1 ,3 0 2 .8
1 ,3 3 4 .2
1 ,3 2 6 .0
S t r u c t u r e s ......................................
24
3 3 8 .6
4 1 0 .8
3 5 9 .7
3 7 8 .2
4 0 6 .3
4 2 6 .9
4 3 1 .7
S t r u c t u r e s ......................................
24
2 5 1 .5
2 7 3 .7
2 5 4 .2
2 5 9 .6
2 7 1 .9
2 8 2 .0
2 8 1 .4
E q u ip m e n t a n d s o f tw a r e ...
25
9 2 7 .1
9 8 5 .6
9 4 4 .7
9 8 1 .0
9 7 7 .9
9 9 4 .0
9 8 9 .6
E q u i p m e n t a n d s o f t w a r e ...
25
9 8 4 .9
1 ,0 4 9 .8
1 ,0 0 7 .6
1 ,0 4 4 .8
1 ,0 4 1 .2
1 ,0 6 0 .7
1 ,0 5 2 .3
26
5 5 2 .6
6 0 2 .1
5 6 7 .3
5 9 5 .9
5 9 4 .3
6 0 8 .6
6 0 9 .5
F i x e d i n v e s t m e n t ..................................
I n f o r m a tio n p r o c e s s i n g
I n f o r m a tio n p r o c e s s i n g
e q u ip m e n t a n d
s o f t w a r e ..............................
e q u ip m e n t a n d
26
4 5 4 .3
4 8 5 .0
4 6 1 .3
4 8 2 .4
4 7 9 .9
4 8 9 .6
4 8 7 .9
s o f t w a r e ..............................
C o m p u te r s a n d
C o m p u te r s a n d
p e rip h e ra l
p e rip h e ra l
86.6
88.0
e q u i p m e n t .................
27
8 5 .1
S o f t w a r e ' ........................
28
1 9 4 .0
2 0 9 .0
1 9 6 .9
2 0 3 .6
2 0 7 .0
210.8
2 1 4 .6
S o ftw a re
2.........................
28
2 0 6 .2
220.0
2 0 9 .5
2 1 5 .6
2 1 7 .8
221.0
2 2 5 .5
O t h e r ....................................
29
1 7 5 .2
1 8 9 .4
1 7 8 .4
1 9 0 .8
1 8 7 .1
1 9 1 .7
1 8 8 .1
O t h e r ......................................
29
1 9 3 .6
2 0 9 .1
1 9 7 .5
211.6
2 0 6 .7
2 1 1 .3
2 0 7 .0
I n d u s t r i a l e q u i p m e n t ......
30
1 5 5 .1
1 6 9 .0
1 6 3 .9
1 6 3 .4
1 7 0 .1
1 7 2 .0
1 7 0 .6
in d u s t r i a l e q u i p m e n t ......
30
1 4 3 .5
1 5 2 .2
1 5 0 .4
1 4 9 .0
1 5 3 .9
1 5 3 .9
1 5 1 .8
8 5 .9
8 5 .9
8 7 .2
8 5 .3
T r a n s p o r ta tio n
e q u i p m e n t .......................
V/
T r a n s p o r ta tio n
31
1 5 8 .3
1 5 8 .5
1 5 4 .6
1 6 5 .7
1 5 5 .9
1 5 7 .5
1 5 4 .8
1 4 5 .4
1 4 6 .0
1 4 3 .2
1 5 2 .2
1 4 2 .7
1 4 7 .3
1 4 1 .8
e q u i p m e n t .........................
31
O t h e r e q u i p m e n t ..............
32
1 5 9 .4
1 7 3 .2
1 6 4 .9
1 6 9 .4
1 7 2 .1
1 7 4 .9
1 7 6 .3
O t h e r e q u i p m e n t ................
32
1 4 7 .3
1 5 7 .0
1 5 1 .2
1 5 4 .3
1 5 7 .1
1 5 8 .6
1 5 8 .2
R e s i d e n t i a l ..........................................
33
7 7 0 .4
7 6 7 .1
8 0 1 .5
8 0 8 .5
7 9 0 .6
7 5 0 .5
7 1 9 .0
R e s i d e n t i a l ..........................................
33
6 0 8 .0
5 8 2 .5
6 1 8 .9
6 1 8 .5
6 0 0 .5
5 7 0 .3
5 4 0 .8
1 9 .6
4 1 .9
4 3 .5
4 1 .2
5 3 .7
5 5 .4
1 7 .3
4 .8
4 .3
1 .9
2 .5
2 .4
3 8 .6
3 6 .8
5 2 .2
5 3 .3
1 4 .6
C h a n g e in p r iv a t e i n v e n t o r i e s ...
34
2 1 .3
4 8 .1
4 8 .6
4 7 .2
6 2 .3
6 4 .2
1 8 .7
C h a n g e in p r i v a t e i n v e n t o r i e s ...
34
F a r m ........................................................
35
0 .3
3 .1
5 .8
5 .4
2 .3
2 .5
2 .3
F a r m ........................................................
35
N o n f a r m ................................................
36
21.0
4 5 .0
4 2 .8
4 1 .8
5 9 .9
6 1 .6
1 6 .5
N o n f a r m ................................................
36
Net exports of goods and
services.................................
37
-716.7
-763.2
-775.4
-765.2
-781.8
-801.7
-704.3
Net exports of goods and
services.................................
3/
-619.2
-618.7
-€36.6
-636.6
-624.2
-628.8
-585.1
E x p o r t s ........................................................
38
1 ,3 0 3 .1
1 ,4 6 6 .1
1 ,3 5 2 .4
1 ,4 0 5 .4
1 ,4 4 8 .1
1 ,4 8 8 .3
1 ,5 2 2 .7
E x p o r t s ........................................................
38
1 ,1 9 6 .1
1 ,3 0 2 .7
1 ,2 2 8 .4
1 ,2 6 9 .3
1 ,2 8 8 .5
1 ,3 1 0 .0
1 ,3 4 3 .1
G o o d s .....................................................
39
9 0 7 .5
1 ,0 3 5 .5
9 4 4 .3
9 8 9 .3
1 ,0 1 9 .1
1 ,0 5 5 .8
1 ,0 7 7 .6
G o o d s .....................................................
39
8 4 3 .2
9 3 1 .4
8 7 0 .8
9 0 6 .2
9 1 9 .5
9 4 0 .4
40
3 9 5 .6
4 3 0 .7
4 0 8 .1
4 1 6 .0
4 2 9 .0
4 3 2 .5
4 4 5 .1
41
2 ,0 1 9 .9
2 ,2 2 9 .4
2 ,1 2 7 .8
2 ,1 7 0 .6
2 ,2 2 9 .8
2 ,2 9 0 .1
2 ,2 2 6 .9
G oods.
42
1 ,6 9 9 .0
1 ,8 8 0 .0
1 ,7 9 9 .3
1 ,8 3 2 .6
1 ,8 7 9 .0
1 ,9 3 8 .8
1 ,8 6 9 .7
S e r v i c e s ...............................................
43
3 2 0 .9
3 4 9 .3
3 2 8 .5
3 3 8 .1
3 5 0 .8
3 5 1 .3
3 5 7 .2
S e rv ic e s
I m p o r t s ...
Government consumption
expenditures and gross
investment..............................
44
F e d e r a l ........................................................
45
8 7 8 .3
9 2 6 .4
886.2
9 2 1 .7
9 1 9 .7
9 2 7 .2
N a t i o n a l d e f e n s e ............................
46
5 8 9 .3
6 2 1 .0
5 9 0 .9
6 1 3 .5
6 1 6 .5
6 1 8 .1
47
5 1 6 .9
5 4 2 .0
5 1 6 .9
5 3 7 .7
5 3 7 .7
5 3 9 .3
5 5 3 .2
C o n s u m p tio n e x p e n d itu re s
2,372.8
2,527.2
2,423.6
2,479.6
2,513.9
2,542.1
S e r v ic e s
0.2
1 9 .6
2.8
3 9 .2
9 5 9 .7
40
3 5 2 .9
3 7 1 .8
3 5 7 .8
3 6 3 .6
3 6 9 .5
3 7 0 .3
3 8 3 .9
I m p o r t s ...
41
1 ,8 1 5 .3
1 ,9 2 1 .4
1 ,8 6 5 .0
1 ,9 0 5 .9
1 ,9 1 2 .7
1 ,9 3 8 .8
1 ,9 2 8 .1
G oods
42
1 ,5 4 9 .9
1 ,6 4 1 .9
1 ,5 9 5 .8
1 ,6 3 1 .9
1 ,6 3 1 .7
1 ,6 6 0 .1
1 ,6 4 4 .0
S e rv ic e s
43
2 6 7 .5
2 8 1 .8
2 7 1 .7
2 7 6 .6
2 8 3 .2
2 8 1 .3
2 8 6 .1
2,573.1
Government consumption
expenditures and gross
investment..............................
44
9 3 7 .2
F e d e r a l ..........................................................
45
7 2 7 .5
7 4 1 .8
7 3 6 .6
7 3 8 .9
N a t i o n a l d e f e n s e ............................
46
4 8 3 .6
4 9 2 .8
7 2 9 .6
4 8 1 .4
7 4 5 .1
6 3 5 .7
4 9 1 .8
4 8 9 .3
4 8 7 .8
7 4 6 .8
5 0 2 .2
C o n s u m p tio n e x p e n d itu r e s
47
4 1 3 .3
4 1 8 .1
4 1 0 .0
4 1 9 .0
4 1 4 .7
4 1 3 .7
4 2 4 .9
48
1,958.0
1,998.3
1,963.5
1,987.1
1,991.2
1,999.4
2,015.5
G r o s s i n v e s t m e n t ....................
48
7 2 .4
7 9 .0
7 5 .8
7 8 .8
7 8 .8
8 2 .5
G r o s s i n v e s t m e n t .....................
7 1 .2
7 6 .4
7 2 .6
7 4 .0
7 6 .5
7 5 .9
7 9 .2
N o n d e f e n s e .......................................
49
2 8 9 .0
3 0 5 .5
2 9 5 .3
3 0 8 .2
3 0 3 .2
3 0 9 .0
3 0 1 .5
N o n d e f e n s e .......................................
49
2 4 3 .7
2 4 8 .8
2 4 8 .0
2 5 3 .1
2 4 7 .0
2 5 0 .9
C o n s u m p tio n e x p e n d itu r e s
50
2 5 1 .7
2 6 6 .0
2 5 4 .2
2 6 5 .9
2 6 4 .6
2 6 9 .8
2 6 3 .9
C o n s u m p tio n e x p e n d itu re s
50
2 0 7 .3
211.2
2 0 8 .7
212.8
210.1
2 1 3 .4
2 4 4 .3
2 0 8 .4
G r o s s i n v e s t m e n t ....................
51
4 2 .4
3 8 .6
3 9 .3
3 7 .5
G r o s s i n v e s t m e n t .....................
61
3 6 .7
3 8 .1
4 0 .1
4 1 .1
3 7 .2
3 7 .8
3 6 .1
S t a t e a n d l o c a l .......................................
52
1 ,4 9 4 .4
1 ,6 0 0 .7
1 ,5 3 7 .4
1 ,5 5 7 .9
1 ,5 9 4 .2
1 ,6 1 4 .9
52
1 ,2 3 0 .4
1 ,2 5 6 .3
1 ,2 3 3 .7
1 ,2 4 2 .0
1 ,2 5 4 .4
1 ,2 6 0 .3
1 ,2 6 8 .5
53
54
1 ,2 0 7 .2
1 ,2 8 7 .9
1 ,2 4 3 .4
1 ,2 5 6 .2
1 ,2 8 0 .7
1 ,3 0 0 .0
1 ,6 3 5 .9
1 ,3 1 4 .9
S t a t e a n d l o c a l .......................................
C o n s u m p tio n e x p e n d itu r e s ...
C o n s u m p tio n e x p e n d itu r e s ...
53
9 8 8 .0
1 ,0 0 5 .9
9 9 1 .9
9 9 6 .1
1, 001.2
1 ,0 0 9 .0
1 ,0 1 7 .2
2 8 7 .3
3 1 2 .8
2 9 4 .0
3 0 1 .7
3 1 3 .5
3 1 5 .0
3 2 1 .0
G r o s s i n v e s t m e n t ..........................
3 7 .4
7 4 .1
3 9 .4
4 1 .1
G r o s s i n v e s t m e n t ...........................
54
2 4 2 .1
2 5 0 .2
2 4 1 .6
2 4 5 .7
2 5 3 .1
2 5 1 .1
2 5 1 .1
R e s i d u a l .............................................................
55
- 4 2 .6
- 8 5 .8
-5 3 .7
- 7 8 .7
- 7 7 .6
- 8 8 .3
- 9 8 .2
1. Excludes software “embedded," or bundled, in computers and other equipment.
1 . T h e q u a n tity in d e x fo r c o m p u te r s c a n b e u s e d to a c c u r a te l y m e a s u r e th e r e a l g ro w th o f th is c o m p o n e n t. H o w ev e r,
b e c a u s e c o m p u te r s e x h ib it r a p id c h a n g e s in p r ic e s re la tiv e to o th e r p r ic e s in th e e c o n o m y , t h e c h a in e d - d o l la r e s t i m a t e s
s h o u ld n o t b e u s e d to m e a s u r e t h e c o m p o n e n t’s r e la tiv e im p o r ta n c e o r its c o n trib u tio n to t h e g ro w th r a te o f m o r e a g g r e g a t e
s e rie s ; a c c u r a t e e s t i m a t e s of t h e s e c o n trib u tio n s a r e s h o w n in ta b le 1 . 5 . 2 a n d r e a l g r o w th r a t e s a r e s h o w n in ta b le 1 .5 .1 .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
N ote . T h e r e s id u a l lin e is t h e d if f e r e n c e b e tw e e n th e first lin e a n d t h e s u m of t h e m o s t d e ta il e d lin e s.
D-12
National Data
March 2007
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]
S e a s o n a lly a d ju s te d
L in e
2005
2006
IV
Gross domestic purchases...
Personal consumption
expenditures..........................
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
2005
I
II
L in e
III
2 111.493 114.563 112.873 113.445 114.573 115.241 114.991
1
9 0 .1 9 8
8 8 .9 8 1
8 9 .6 0 6
8 9 .3 8 5
8 9 .2 0 6
8 8 .9 6 7
8 8 .3 6 6
D u r a b l e g o o d s .......................................
3
4
9 8 .9 6 7
9 9 .4 0 0
9 8 .9 0 6
9 9 .4 6 0
9 9 .5 3 2
9 9 .6 3 1
9 8 .9 8 0
M o to r v e h i c l e s a n d p a r t s ........
4
5
7 6 .8 8 4
7 3 .4 6 6
7 5 .4 3 5
7 4 .6 7 1
7 3 .8 9 4
7 3 .0 4 6
7 2 .2 5 2
O t h e r .......................................................
3 .5
2
3
F u rn itu re a n d h o u s e h o ld
2005
3 .1
2.9
2.8
- 0 .7
- 1 .3
1.8
I
2.9
e q u i p m e n t ......................................
5
- 3 .8
6
- 0 .4
- 4 .4
- 4 .0
- 0 .7
-
9 7 .6 8 8
9 8 .4 6 4
9 8 .0 0 5
9 7 .5 6 7
9 8 .3 5 1
9 8 .9 5 0
9 8 .9 8 7
O t h e r ........................................................
7
1 1 1 .5 3 0
1 1 4 .9 5 9
1 1 3 .1 7 7
1 1 3 .4 8 4
1 1 5 .7 6 9
1 1 6 .4 4 2
1 1 4 .1 4 1
N o n d u r a b l e g o o d s ..............................
7
3 .6
3 .1
1 1 2 .7 3 2
1 1 5 .3 3 3
1 1 3 .6 4 2
1 1 4 .4 1 4
1 1 4 .9 0 5
1 1 5 .7 2 7
1 1 6 .2 8 4
F o o d ..........................................................
8
2 .3
9 1 .7 0 6
9 1 .3 5 0
9 1 .1 0 1
9 0 .8 7 0
9 1 .6 5 1
9 1 .3 4 2
9 1 .5 3 6
C l o th in g a n d s h o e s ......................
9
2.2
1.0
- 0 .4
- 0 .7
22.1
1 2 .9
-
9
G a s o l i n e , f u e l o il, a n d o t h e r
-
0.8
0.6
2.2
1 5 1 .4 2 3
1 7 0 .9 9 2
1 6 3 .6 1 2
1 6 1 .1 2 6
1 8 5 .6 2 1
1 5 4 .5 8 8
1 0 7 .7 7 5
1 0 9 .7 8 6
1 0 8 .6 1 9
1 0 9 .3 0 1
1 0 9 .7 3 7
1 1 0 .0 4 1
1 1 0 .0 6 4
O t h e r ........................................................
1 1 6 .5 2 9
1 2 0 .5 2 1
1 1 8 .2 8 1
1 1 9 .1 9 4
1 2 0 .0 5 9
1 2 0 .9 6 0
1 2 1 .8 6 9
S e r v i c e s .......................................................
H o u s i n g ................................................
13
1 1 6 .1 6 5
1 2 0 .3 2 7
1 1 7 .2 7 9
1 1 8 .2 6 9
1 1 9 .7 1 7
1 2 1 .0 5 5
1 2 2 .2 6 8
H o u s i n g ..................................................
13
H o u s e h o l d o p e r a t i o n .................
14
1 1 5 .5 5 4
1 2 1 .6 9 0
1 2 0 .5 7 9
1 2 2 .4 0 3
1 2 1 .0 1 9
1 2 1 .3 8 3
1 2 1 .9 5 6
H o u s e h o l d o p e r a t i o n ...................
14
5 .1
5 .3
1 8 .8
E le c tr ic ity a n d g a s .................
15
1 2 9 .9 0 0
1 4 1 .7 1 8
1 4 2 .1 6 9
1 4 5 .5 8 2
1 4 0 .7 9 9
1 4 0 .3 1 8
1 4 0 .1 7 3
E le c tr ic ity a n d g a s .................
15
1 0 .3
9 .1
4 5 .1
O th e r h o u s e h o ld o p e ra tio n
16
1 0 7 .2 3 3
1 0 9 .9 9 6
1 0 8 .0 4 7
1 0 8 .9 7 7
1 0 9 .4 4 7
1 1 0 .2 8 5
1 1 1 .2 7 6
O th e r h o u s e h o ld o p e ra tio n
16
1.8
T r a n s p o r t a t i o n ..................................
17
1 1 2 .6 6 3
1 1 6 .8 9 5
1 1 4 .9 7 0
1 1 5 .4 1 1
1 1 6 .8 2 6
1 1 7 .6 7 5
1 1 7 .6 7 0
T r a n s p o r t a t i o n ..................................
17
4 .0
M e d ic a l c a r e ......................................
18
1 1 8 .4 3 8
1 2 1 .7 5 3
1 1 9 .9 4 9
1 2 0 .4 8 2
1 2 1 .3 3 2
1 2 2 .1 8 0
1 2 3 .0 1 9
M e d ic a l c a r e ......................................
18
3 .3
R e c r e a t i o n ..........................................
19
1 1 5 .1 6 8
1 1 8 .6 4 1
1 1 6 .7 0 2
1 1 7 .3 1 1
1 1 8 .5 8 2
1 1 9 .4 2 5
1 1 9 .2 4 4
R e c r e a t i o n ..........................................
19
2.8
3 .0
O t h e r .......................................................
20
1 1 6 .6 2 5
1 2 0 .4 6 9
1 1 7 .9 5 9
1 1 9 .1 1 6
1 1 9 .9 7 0
1 2 0 .7 1 1
1 2 2 .0 8 0
O t h e r ........................................................
20
3 .1
3 .3
Gross private domestic
investment..............................
4.0
-
-
1.8
1.1
2 .7
1.0
IV
2.2
0.8
-
0 .3
-4A
0.2
2.4
-0.9
1.1
- 2 .7
0 .4
-
- 4 .5
2.6
- 4 .3
0.1
3 .3
2 .5
8 .3
2 .3
1 .7
2 .9
1 .9
3 .5
- 1 .3
0 .9
6 .7
- 5 1 .9
- 7 .7
G a s o l i n e , f u e l o il, a n d o t h e r
10
11
12
e n e r g y g o o d s ..............................
1.0
2 .3
- 4 .5
8
C l o th in g a n d s h o e s ......................
O t h e r ......................................................
-
1.2
6
4.0
2.0
- 1 .3
0 .4
III
II
2.7
3 .5
F u rn itu re a n d h o u s e h o ld
F o o d ........................................................
S e r v i c e s .....................................................
2006
IV
Gross domestic purchases ...
Personal consumption
expenditures..........................
M o to r v e h i c l e s a n d p a r t s ........
N o n d u r a b l e g o o d s ..............................
2006
IV
1 112.981 116.497 114.541 115.313 116.455 117.080 117.142
D u r a b l e g o o d s .......................................
e q u i p m e n t ......................................
2005
1 8 2 .6 3 2
21 110.284 113.817 111.853 112.860 113.717 113.895 114.798
22 1 1 0 . 5 4 2 1 1 4 . 1 6 1 1 1 2 . 1 9 4 1 1 3 . 2 3 8 1 1 4 . 0 7 4 1 1 4 . 2 2 4 1 1 5 . 1 0 9
e n e r g y g o o d s ..............................
Gross private domestic
investment..............................
10
11
12
1 .5
1 .9
8.2
2.6
2 .5
1.6
1.1
0.1
3 .2
3 .4
5 .0
3 .1
2 .9
3 .0
3 .0
2.6
3 .6
2 .9
3 .4
5 .0
4 .5
2.6
- 5 .9
6.2
10.0
6 5 .1
4 .1
1.2
- 4 .4
1 .9
-1 2 .5
- 1 .4
- 0 .4
3 .6
2.6
3 .5
1 .7
3 .1
3 .8
4 .8
1 .5
5 .0
2 .9
2.8
4 .1
2 .9
2.8
4 .1
1.8
2.1
4 .4
2 .9
3 .4
4 .0
2 .9
2 .5
-
0.0
2.8
0.6
4 .6
21
22
3.4
3.2
4.3
3.7
3 .1
0.6
3 .5
3 .3
4 .6
3 .8
3 .0
0 .5
3 .1
N o n r e s i d e n t i a l .................................
23
1 0 3 .4 2 8
1 0 6 .3 5 9
1 0 4 .5 1 0
1 0 5 .4 7 1
1 0 6 .2 6 6
1 0 6 .5 0 1
1 0 7 .1 9 8
N o n r e s i d e n t i a l ..................................
23
2.6
2.8
3 .5
3 .7
3 .0
0 .9
2.6
S t r u c t u r e s ......................................
24
1 3 4 .6 4 7
1 4 9 .9 6 7
1 4 1 .4 7 6
1 4 5 .6 8 4
1 4 9 .4 3 2
1 5 1 .3 7 2
1 5 3 .3 8 0
S t r u c t u r e s ......................................
24
1 1 .3
1 1 .4
1 6 .8
1 2 .4
1 0 .7
5 .3
5 .4
E q u ip m e n t a n d s o f tw a r e ...
25
9 4 .1 3 4
9 3 .8 8 9
9 3 .7 5 4
9 3 .8 8 7
9 3 .9 2 0
9 3 .7 0 4
9 4 .0 4 6
E q u i p m e n t a n d s o f t w a r e ...
25
- 0 .4
- 0 .3
-
0.1
- 0 .9
1 .5
26
- 3 .0
-
1.0
- 1 .5
- 1 .9
e q u i p m e n t ...................
2/
- 1 2 .3
-1 3 .5
- 1 3 .0
- 9 .4
1.........................
28
- 0 .5
2 .5
1 .5
- 0 .7
1 .5
0 .9
0 .4
2 .5
3 .3
4 .3
2 .3
1 .4
-8 .4
8 .5
2 .7
4 .2
0.1
4 .1
F i x e d i n v e s t m e n t ..................................
F i x e d i n v e s t m e n t ..................................
I n f o r m a tio n p r o c e s s i n g
e q u ip m e n t a n d
26
8 2 .2 1 8
8 0 .5 4 1
8 1 .3 1 3
8 0 .9 4 0
8 0 .7 3 7
8 0 .4 3 8
8 0 .0 4 8
s o f t w a r e ..............................
C o m p u te r s a n d
C o m p u te r s a n d
p e rip h e ra l
p e rip h e ra l
e q u i p m e n t .................
2/
5 1 .4 0 7
4 4 .8 1 8
4 8 .6 3 4
4 7 .1 2 5
4 5 .4 4 3
4 3 .8 8 9
4 2 .8 1 7
1.......................
28
9 4 .0 6 7
9 4 .9 8 6
9 4 .0 0 9
9 4 .4 3 0
9 5 .0 0 5
9 5 .3 5 4
9 5 .1 5 5
O t h e r ....................................
29
9 0 .4 9 2
9 0 .5 6 9
9 0 .3 4 3
9 0 .1 8 6
9 0 .5 2 3
9 0 .7 3 7
9 0 .8 3 2
O t h e r .....................................
29
- 0 .9
30
1 0 8 .0 6 4
1 1 1 .0 6 8
1 0 8 .9 7 3
1 0 9 .6 5 9
1 1 0 .5 4 4
1 1 1 .7 1 5
1 1 2 .3 5 5
I n d u s t r i a l e q u i p m e n t ......
30
3 .7
S o ftw a re
I n d u s tr ia l e q u i p m e n t ......
0.6
I n f o r m a tio n p r o c e s s i n g
e q u ip m e n t a n d
s o f t w a r e ..............................
1.0
3.2
S o ftw a re
T r a n s p o r ta tio n
-
2.0
-2 .7
12.8
1.0
0.1
2.8
- 1 3 .3
0.0
- 0.1
2.2
-
-
1.8
11.8
1.8
-
-
0.8
T r a n s p o r ta tio n
e q u i p m e n t .......................
31
1 0 8 .8 8 2
1 0 8 .5 3 0
1 0 7 .9 3 3
1 0 8 .8 6 7
1 0 9 .2 5 7
1 0 6 .8 9 4
1 0 9 .1 0 3
e q u i p m e n t .........................
31
- 0 .9
- 1 .5
3 .5
O t h e r e q u i p m e n t ..............
32
1 0 8 .1 7 4
1 1 0 .3 1 8
1 0 9 .1 0 0
1 0 9 .8 4 1
1 0 9 .6 0 8
1 1 0 .3 3 9
1 1 1 .4 8 6
O t h e r e q u i p m e n t ................
32
4 .1
2.0
1 .3
2 .7
R e s i d e n t i a l ..........................................
33
1 2 6 .7 1 4
1 3 1 .7 7 4
1 2 9 .5 3 6
1 3 0 .7 6 5
1 3 1 .6 9 6
1 3 1 .6 5 5
1 3 2 .9 8 1
R e s i d e n t i a l ..........................................
33
5 .1
4 .0
6 .3
3 .8
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
34
C h a n g e in p r i v a t e i n v e n t o r i e s ...
34
HH
F e d e r a l ........................................................
N a t io n a l d e f e n s e ............................
C o n s u m p tio n e x p e n d itu re s
0.8
-
2 .9
3fi
Government consumption
expenditures and gross
investment..............................
3/
5.6
4.4
4.7
4.4
4.8
2.8
1 2 5 .4 9 0
F e d e r a l ..........................................................
38
4 .8
3 .4
0 .4
7 .6
1 2 6 .6 0 3
N a t i o n a l d e f e n s e ............................
39
5 .1
3 .4
1.0
6 .7
3 .8
4 .1
2 .3
- 0 .3
5 .6
3 .7
7 .4
4 .3
2.2
-
1.6
2.6
3 .0
9 .5
3 .2
1 .4
0.6
1.2
0.8
3/
121.183 126.468 123.444 124.791 126.262 127.150 127.671
38
39
1 2 0 .7 2 6
1 2 1 .8 5 5
40
-
35
36
Government consumption
expenditures and gross
investment.............................
- 0 .3
1 2 5 .0 7 1
1 2 4 .8 9 1
1 2 1 .4 7 9
1 2 6 .0 1 9
1 2 9 .6 4 2
1 2 2 .7 6 0
1 2 3 .7 2 1
1 2 4 .7 5 2
1 2 5 .4 8 2
1 2 6 .7 1 4
1.6
2.0
0.0
1 2 9 .6 8 1
1 3 0 .3 7 5
C o n s u m p tio n e x p e n d itu re s
40
G r o s s i n v e s t m e n t ....................
41
1 0 1 .6 2 8
1 0 3 .4 0 5
1 0 2 .0 2 6
1 0 2 .4 3 8
1 0 3 .1 0 9
1 0 3 .8 8 0
1 0 4 .1 9 1
G r o s s i n v e s t m e n t ....................
41
1 .7
1 .7
N o n d e f e n s e .......................................
42
1 1 8 .6 0 6
1 2 2 .7 6 9
1 1 9 .0 5 9
1 2 1 .7 8 7
1 2 2 .7 3 6
1 2 3 .1 5 4
1 2 3 .4 0 0
N o n d e f e n s e .......................................
42
4 .1
3 .5
- 0 .7
C o n s u m p tio n e x p e n d itu re s
43
1 2 1 .3 8 1
1 2 5 .9 9 5
1 2 1 .8 1 0
1 2 4 .9 4 4
1 2 5 .9 5 8
1 2 6 .4 2 2
1 2 6 .6 5 8
C o n s u m p tio n e x p e n d itu r e s
43
4 .4
3 .8
-
1 .5
0 .7
G r o s s i n v e s t m e n t ....................
44
1 0 1 .9 1 3
1 0 3 .6 2 9
1 0 2 .4 7 0
1 0 3 .0 3 5
1 0 3 .6 2 3
1 0 3 .7 8 0
1 0 4 .0 7 8
G r o s s i n v e s t m e n t ....................
44
1 .9
1 .7
1 .7
0.6
45
1 2 1 .4 6 3
1 2 7 .4 1 1
1 2 4 .6 2 0
1 2 5 .4 3 4
1 2 7 .0 9 5
1 2 8 .1 4 7
1 2 8 .9 6 9
S t a t e a n d l o c a l .......................................
45
6.2
4 .9
7 .3
2.2
2.6
2 .3
S t a t e a n d l o c a l .......................................
5 .4
3 .4
1.2
2.6
C o n s u m p tio n e x p e n d itu r e s
46
1 2 2 .1 7 7
1 2 8 .0 3 5
1 2 5 .3 6 5
1 2 6 .1 1 2
1 2 7 .9 1 6
1 2 8 .8 3 8
1 2 9 .2 7 5
C o n s u m p tio n e x p e n d itu re s
46
5 .9
4 .8
7 .6
2 .4
5 .8
2 .9
1 .4
G r o s s i n v e s t m e n t ....................
47
1 1 8 .6 7 9
1 2 4 .9 9 7
1 2 1 .7 1 6
1 2 2 .7 9 9
1 2 3 .8 9 3
1 2 5 .4 6 2
1 2 7 .8 3 5
G r o s s i n v e s t m e n t .....................
4/
7 .3
5 .3
6.0
3 .6
3 .6
5 .2
7 .8
48
4 4 .4 2 4
3 8 .2 5 2
4 1 .8 0 3
4 0 .3 8 8
3 8 .6 9 7
3 7 .4 0 7
3 6 .5 1 5
48
- 1 3 .6
- 1 3 .9
-1 2 .9
- 1 5 .7
- 1 2 .7
- 9 .2
4 .2
2 .3
1 .7
3 .0
1 2 6 .0 6 1
1 2 8 .3 2 7
1 2 4 .8 7 1
1 2 6 .0 0 6
1 3 0 .1 8 6
Addenda:
0 .7
2.6
1.0
1 0 .7
3 .3
Addenda:
F i n a l s a l e s o f c o m p u t e r s to
d o m e s tic p u r c h a s e r s
2 .............
F i n a l s a l e s o f c o m p u t e r s to
G ro s s d o m e s tic p u r c h a s e s
d o m e s t i c p u r c h a s e r s 2..............
- 1 4 .5
G ro s s d o m e s tic p u r c h a s e s
e x c l u d i n g f in a l s a l e s o f
e x c l u d i n g f in a l s a l e s o f
c o m p u te r s to d o m e s tic
c o m p u te r s to d o m e s tic
p u r c h a s e r s ..........................................
49
1 1 4 .2 1 0
1 1 7 .9 8 0
1 1 5 .8 7 3
1 1 6 .7 0 4
1 1 7 .9 2 2
1 1 8 .6 0 1
1 1 8 .6 9 3
p u r c h a s e r s ..........................................
49
F o o d ...............................................................
50
1 1 2 .5 9 8
1 1 5 .1 6 8
1 1 3 .4 8 2
1 1 4 .2 2 0
1 1 4 .6 9 7
1 1 5 .5 5 5
1 1 6 .2 0 2
F o o d ................................................................
50
E n e r g y g o o d s a n d s e r v i c e s ........
51
1 4 4 .8 3 0
1 6 1 .6 8 8
1 5 8 .4 8 5
1 5 7 .5 4 3
1 6 8 .4 0 4
1 6 8 .6 6 8
1 5 2 .1 3 5
E n e r g y g o o d s a n d s e r v i c e s ........
51
G ro s s d o m e s tic p u r c h a s e s
3 .7
2.2
1 9 .1
3 .3
2 .3
11.6
3 .7
2 .9
2.6
2 .3
1 4 .8
0 .3
2 .3
-2 .4
3 0 .6
0.6
-3 3 .8
G ro s s d o m e s tic p u r c h a s e s
e x c lu d in g fo o d a n d e n e r g y ....
62
1 1 1 .6 3 8
1 1 4 .6 9 3
1 1 2 .7 5 8
1 1 3 .6 0 5
1 1 4 .4 2 0
1 1 5 .0 3 4
1 1 5 .7 1 5
e x c lu d in g fo o d a n d e n e r g y ....
52
2.8
2 .7
3 .0
3 .0
2 .9
2.2
2 .4
G r o s s d o m e s t i c p r o d u c t ................
53
1 1 2 .7 4 4
1 1 6 .0 6 1
1 1 4 .0 4 8
1 1 4 .9 6 7
1 1 5 .9 0 5
1 1 6 .4 4 6
1 1 6 .9 2 4
G r o s s d o m e s t i c p r o d u c t .................
53
3 .0
2 .9
3 .3
3 .3
3 .3
1 .9
1 .7
G ro s s d o m e s tic p ro d u c t
G ro s s d o m e s tic p ro d u c t
e x c l u d i n g f in a l s a l e s o f
e x c l u d i n g f in a l s a l e s o f
c o m p u t e r s ..............................
54
1 1 3 .7 2 4
1 1 7 .2 3 2
1 1 5 .1 0 7
1 1 6 .0 6 7
1 1 7 .0 6 0
1 1 7 .6 4 3
1 1 8 .1 5 8
c o m p u t e r s ...............................
64
3 .2
3 .1
3 .4
3 .4
3 .5
2.0
1.8
F o o d ..................................................
55
1 1 2 .9 2 5
1 1 5 .5 0 3
1 1 3 .7 4 9
1 1 4 .4 4 2
1 1 4 .9 7 0
1 1 5 .9 1 9
1 1 6 .6 8 1
F o o d ....................................................
55
1.8
2 .3
1 .7
2 .5
1 .9
3 .3
2 .7
5b
8.8
7 .2
6 .9
11.2
E n erg y g o o d s a n d
s e r v i c e s ....................................
E n erg y g o o d s a n d
56
1 2 6 .5 2 6
1 3 5 .6 9 7
1 3 1 .5 8 9
1 3 5 .1 1 3
1 4 0 .6 0 9
1 3 6 .8 9 0
1 3 0 .1 7 6
s e r v i c e s ....................................
G ro s s d o m e s tic p ro d u c t
G ro s s d o m e s tic p ro d u c t
e x c lu d in g fo o d a n d
e x c lu d in g fo o d a n d
1 7 .3
-
10.2
-1 8 .2
2 .3
e n e r g y .......................................
57
1 1 2 .2 9 8
1 1 5 .5 3 3
1 1 3 .5 4 5
1 1 4 .4 1 7
1 1 5 .2 7 2
1 1 5 .8 9 0
1 1 6 .5 5 3
e n e r g y .........................................
5/
3 .0
2 .9
3 .3
3 .1
3 .0
2.2
F in a l s a l e s o f d o m e s tic p r o d u c t
58
1 1 2 .7 8 3
1 1 6 .1 1 4
1 1 4 .1 0 1
1 1 5 .0 2 5
1 1 5 .9 6 1
1 1 6 .4 9 8
1 1 6 .9 7 2
F in a l s a l e s o f d o m e s tic p r o d u c t
58
3 .0
3 .0
3 .3
3 .3
3 .3
1 .9
1.6
59
1 1 3 .0 2 1
1 1 6 .5 5 1
1 1 4 .5 9 4
1 1 5 .3 7 1
1 1 6 .5 1 0
1 1 7 .1 3 3
1 1 7 .1 8 9
59
3 .5
3 .1
3 .5
2 .7
4 .0
2.2
0.2
F in a l s a l e s to d o m e s tic
p u r c h a s e r s ..........................................
F in a l s a l e s to d o m e s tic
1 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
2 . S o m e c o m p o n e n t s o f fin al s a l e s o f c o m p u te r s in c lu d e c o m p u te r p a r ts .
p u r c h a s e r s ..........................................
1 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
2 . S o m e c o m p o n e n t s of fin al s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
March 2007
D-13
S u r v e y o f C u r r e n t B u s in e s s
Table 1.6.8. Contributions to Percent Change in the Gross Domestic
Purchases Price Index
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
L in e
IV
I
II
III
2005
2006
IV
Percent change at annual rate:
Gross domestic purchases...
Percentage points at annual
rates:
Personal consumption
expenditures..........................
1
3.5
3.1
2.7
3.5
4.0
2.2
0.2
1.92
-0 .0 6
M o to r v e h i c l e s a n d p a r t s ........
4
0 .0 6
1.82
-
0.11
0.01
1.93
-
1.35
2.66
1.55
0.10
- 0 .0 7
- 0 .0 6
- 0 .0 8
0 .0 4
0 .0 7
0.01
0.01
5
6
0.11
- 0.01
-
- 0 .1 3
-
- 0 .0 3
7
0 .7 0
0 .5 9
F o o d ........................................................
8
0.20
C l o th in g a n d s h o e s ......................
9
0.21
0.01
-
-0 .0 3
0.01
-
0.12
-0 .1 3
0.01
0.11
0.20
- 0.02
-0.58
-
0.21
-0 .0 8
-
-
0.12
- 0 .1 3
1
2 1 .3
2 7 .1
2 6 .8
3 8 .8
11.0
H
2 8 .2
7 6 .3
1 3 .8
4 7 .1
1 5 .8
0.21
1 .5 8
0 .4 6
-1 .5 5
0 .2 5
0 .1 6
0 .2 6
0 .1 8
-0 .0 3
0 .0 9
- 0 .0 3
0.02
0 .4 4
0 .2 9
0.21
- 0 .1 4
1 .2 4
0 .1 7
0 .0 8
0.10
0 .1 3
0 .1 3
0 .0 9
0 .0 6
0.00
1 .2 8
1 .3 4
1 .9 2
1.22
1 .1 5
1 .1 8
1 .1 8
H o u s i n g .................................................
13
0 .2 6
0 .3 5
0 .2 8
0 .3 3
0 .4 8
0 .4 4
0 .4 0
H o u s e h o l d o p e r a t i o n .................
14
0 .1 9
0 .1 9
0 .6 5
0.22
- 0 .1 6
0 .0 4
0 .0 7
S e r v i c e s .....................................................
E le c tr ic ity a n d g a s .................
15
0 .1 5
0 .1 4
0 .5 9
0 .1 5
- 0.20
O th e r h o u s e h o ld o p e ra tio n
16
0 .0 4
0 .0 5
0 .0 5
0 .0 7
0 .0 4
0 .0 6
0 .0 8
17
0.10
0 .0 9
0.12
0 .0 4
0.12
0 .0 7
0.00
-
0.02
-1 .7 5
T r a n s p o r t a t i o n ..................................
-
0.01
18
0 .3 7
0 .3 2
0 .4 6
0.20
0 .3 2
0 .3 2
R e c r e a t i o n ..........................................
19
0 .0 8
0 .0 8
0.11
0 .0 6
0.12
0 .0 8
O t h e r ......................................................
20
0 .2 9
0 .3 0
0 .3 1
0 .3 6
0 .2 7
0 .2 3
0 .4 2
21
22
0.53
0.51
0.68
0.58
0.50
0.10
0.49
0 .5 3
0 .5 1
0 .7 1
0 .5 9
0 .4 7
0 .0 8
0 .4 7
M e d ic a l c a r e ......................................
Gross private domestic
investment..............................
F i x e d i n v e s t m e n t ...................................
3.2
o f t h e w o r l d ...............................................
Equals: Gross national product
4
3.1
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
5
0 .3 1
-
1.8
3.3
23
0 .2 5
0 .2 8
0 .3 4
0 .3 6
0 .3 0
0 .0 9
0 .2 6
S t r u c t u r e s ......................................
24
0 .2 7
0 .3 0
0 .4 1
0 .3 2
0 .2 9
0 .1 5
0 .1 6
E q u ip m e n t a n d s o f tw a r e ...
25
- 0 .0 3
-0 .0 7
0 .0 4
0.01
- 0 .0 6
26
-
-0 .0 9
-0 .0 6
- 0 .0 3
-0 .0 5
0.02
6
8.1
8.8
G o v e r n m e n t ...........................
7
8
G e n e ra l g o v e rn m e n t
0.5
27
- 0 .0 9
1........................
28
-
2 .3
2 .3
-6 .4
2.2
2.1
2.2
2.0
4 .2
1 .4
-1 8 .5
3 .0
3 .0
3 .2
3 .4
2.6
2.8
2 .3
3 .4
2.8
3 .1
e n t e r p r i s e s ................
3 .3
- 6 9 .1
1 .4
3 .5
3 .6
Equals: Net national product....
3 .7
14.4
7 .7
2.3
1.7
2.1
0.8
10.2
-0 .5
2 .3
1 0 .7
-0 .7
2.1
1 2 .7
9
10
2.4
- 5 .5
Addenda:
2................
11
1?
3 .1
N e t d o m e s t i c p r o d u c t ........................
13
2 .5
3 ...................
14
2 .5
G r o s s n a tio n a l in c o m e
N e t d o m e s tic in c o m e
3 .2
4 .4
1 6 .1
7 .1
1 6 .7
1 2 .4
O t h e r ....................................
29
-
I n d u s t r i a l e q u i p m e n t ......
30
-0 .0 7
2.2
1 .9
2 .4
1 . G r o s s d o m e s tic in c o m e d e f la te d b y t h e im plicit p r ic e d e fla to r fo r g r o s s d o m e s tic p r o d u c t.
2 . G r o s s n a tio n a l in c o m e d e f la te d b y t h e im plicit p r ic e d e fla to r fo r g r o s s n a tio n a l p r o d u c t.
3 . N e t d o m e s tic in c o m e d e f la te d b y t h e im plicit p r ic e d e f la to r fo r n e t d o m e s tic p r o d u c t.
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product,
and Real Net National Product, Quantity Indexes
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
-0 .0 7
-0 .0 9
-0 .0 9
-0 .0 8
- 0 .0 9
0 .0 3
0 .0 4
- 0 .0 9
L in e
2005
2006
0.01
0.00
0.00
0.00
0.01
0.02
0.02
0.01
0 .0 4
0 .0 3
0 .0 3
0 .0 3
0 .0 4
0 .0 5
0 .0 3
0.01
0.02
0.02
0 .0 4
0.02
0.01
-
0.10
0 .0 9
0 .0 3
0 .0 5
0 .2 3
0 .1 7
-
0.01
0.00
- 0.01
0 .0 3
0.01
0.02
0.01
0.01
0.21
0.02
0.02
0.00
-
-
0.01
0.01
32
0 .0 5
R e s i d e n t i a l ..........................................
33
0 .2 8
0 .2 3
C h a n g e in p r i v a t e i n v e n t o r i e s . . .
34
F a r m ........................................................
35
0.00
0.00
0.00
0.00
0.00
0.00
31
36
-
-
0 .0 3
0 .3 7
-0 .0 3
0.00
- 0 .0 3
-
-
0.00
0 .0 3
2006
2005
IV
-0 .0 6
0.01
0.01
0.00
0.02
I
II
III
IV
Gross domestic product...........
1 112.546 116.264 113.719 115.274 116.004 116.569 117.210
P lu s : I n c o m e r e c e i p t s f r o m t h e
'?
r e s t o f t h e w o r l d ....................................
1 1 9 .3 7 4
1 2 9 .6 2 3
1 3 7 .5 4 1
1 4 9 .2 9 8
1 5 3 .2 4 7
1 2 4 .2 8 6
1 4 0 .7 4 7
1 4 5 .3 8 0
1 6 0 .1 0 6
1 6 6 .0 9 3
L es s: In c o m e p a y m e n ts to th e r e s t
o f t h e w o r l d ...............................................
Equals: Gross national product
4
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
113.390 115.085 115.753 116.260
112.399
5
1 2 5 .9 9 8
1 2 0 .5 2 0
121.012
1 1 9 .4 9 5
P r i v a t e .......................................
6
1 2 8 .1 7 9
1 2 1 .2 3 1
1 2 2 .2 8 5
1 2 0 .2 7 1
1 2 0 .9 3 1
1 2 1 .5 6 4
1 2 2 .1 5 6
G o v e r n m e n t ...........................
7
1 1 5 .2 4 0
1 1 6 .8 1 1
1 1 4 .6 1 2
1 1 5 .4 7 5
1 1 6 .3 2 1
1 1 7 .2 3 6
1 1 8 .2 1 3
8
1 1 2 .8 8 5
1 1 6 .0 9 9
1 1 3 .8 6 3
1 1 4 .8 1 2
1 1 5 .6 2 1
1 1 6 .5 0 6
1 1 7 .4 5 8
9
1 2 7 .5 7 5
1 2 0 .6 1 4
1 1 8 .6 0 6
1 1 9 .0 2 2
1 2 0 .0 6 3
1 2 1 .1 3 1
1 2 2 .2 4 0
G e n e ra l g o v e rn m e n t
Government consumption
expenditures and gross
investment..............................
37
1.01
0.78
0.84
0.79
0.86
0.51
0.30
e n t e r p r i s e s ................
F e d e r a l ........................................................
38
0 .3 2
0 .2 3
0 .0 3
0 .4 9
0 .2 5
0 .1 3
Equals: Net national product....
1 2 0 .1 8 7
1 2 0 .8 6 9
1 2 1 .5 2 9
G o v ern m e n t
39
0 .2 3
0 .1 5
0 .0 4
0 .2 9
0 .1 8
0.10
C o n s u m p tio n e x p e n d itu re s
40
0 .0 3
0 .2 8
0 .1 7
0 .0 8
41
0.22
0.01
0 .1 4
G r o s s i n v e s t m e n t ....................
0.01
0.01
0.02
N o n d e f e n s e .......................................
42
0 .0 9
0.01
0.20
0.20
0.01
0 .0 7
0 .0 6
0 .0 3
0 .0 3
0.01
0.00
0.00
- 0.02
- 0.02
0.01
0.02
0.01
0.00
0 .0 8
0 .0 8
0 .0 7
G r o s s i n v e s t m e n t ....................
44
0.01
0.00
0.01
- 0.01
- 0.02
0.00
S t a t e a n d l o c a l .......................................
45
0 .6 9
0 .5 5
0 .8 1
0 .3 0
0 .6 1
0 .3 8
0 .2 9
C o n s u m p tio n e x p e n d itu re s
46
0 .5 3
0 .4 4
0 .6 9
0.22
0 .5 3
0 .2 7
0 .1 3
G r o s s i n v e s t m e n t ....................
4/
0 .1 6
0.12
0 .1 3
0 .0 8
0 .0 8
0.11
0 .1 7
48
-0 .1 6
-0 .1 6
- 0 .1 4
- 0 .1 7
- 0 .1 3
C o n s u m p tio n e x p e n d itu re s
-
2.6
0.8
0.10
T r a n s p o r ta tio n
N a t i o n a l d e f e n s e ............................
1.8
-4 .9
- 6 0 .4
S e a s o n a lly a d ju s te d
0.11
e q u i p m e n t .................
N o n f a r m ................................................
2.3
- 5 5 .8
p e rip h e ra l
O t h e r e q u i p m e n t ..............
6.1
G o v ern m e n t
C o m p u te rs a n d
e q u i p m e n t ........................
2.2
2.0
- 5 .4
e q u ip m e n t a n d
S o ftw a re
2.6
- 4 .3
I n f o r m a tio n p r o c e s s i n g
s o f t w a r e ..............................
5.6
0.02
N o n r e s i d e n t i a l .................................
-
P r i v a t e .......................................
0.00
0 .0 4
0 .0 5
10
11
12
e n e r g y g o o d s ..............................
IV
'?
-0 .1 3
G a s o l i n e , f u e l o il, a n d o t h e r
O t h e r .......................................................
III
P lu s: I n c o m e r e c e ip t s fro m th e
F u r n itu re a n d h o u s e h o ld
N o n d u r a b l e g o o d s ..............................
II
L es s: In c o m e p a y m e n ts to th e r e s t
2
3
O t h e r .......................................................
2006
I
Gross domestic product...........
r e s t o f t h e w o r l d ....................................
D u r a b l e g o o d s .......................................
e q u i p m e n t ......................................
2005
IV
43
10 110.597
112.366 114.475 115.140 115.625
Addendum:
N e t d o m e s t i c p r o d u c t ........................
11
1 1 0 .7 5 5
1 1 5 .6 7 2
1 1 2 .7 3 3
1 1 4 .6 8 7
1 1 5 .4 2 1
1 1 5 .9 7 1
1 1 6 .6 0 9
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
Addenda:
F i n a l s a l e s o f c o m p u t e r s to
d o m e s tic p u r c h a s e r s
2 .............
-0 .1 5
-
0.10
S e a s o n a lly a d ju s te d
G ro s s d o m e s tic p u r c h a s e s
e x c l u d i n g f in a l s a l e s o f
L in e
c o m p u te r s to d o m e s tic
p u r c h a s e r s ..........................................
49
3 .6 1
F o o d ..............................................................
50
0.20
0.22
0.22
E n e r g y g o o d s a n d s e r v i c e s ........
51
0 .7 9
0 .5 5
0 .7 0
52
2 .4 6
2 .3 5
2 .5 4
3 .2 6
3 .6 1
-
2.86
4 .1 9
2 .3 0
2006
0 .3 1
0 .1 6
0 .2 8
1 .3 7
0 .0 3
-2 .0 3
2 .5 9
2 .4 9
1 .8 5
2 .0 3
Gross domestic product...........
2006
2005
IV
0.21
0 .2 4
0.11
G ro s s d o m e s tic p u r c h a s e s
e x c lu d in g fo o d a n d e n e r g y ....
2005
I
II
III
IV
1 112.744 116.061 114.048 114.967 115.905 116.446 116.924
P lu s : I n c o m e r e c e i p t s f r o m t h e
?
1 1 2 .3 7 7
1 1 3 .9 5 9
1 1 4 .7 0 7
1 1 5 .8 3 9
1 1 6 .4 3 2
1 1 2 .7 0 4
1 1 4 .2 6 9
1 1 5 .0 0 0
1 1 6 .1 2 4
1 1 6 .6 7 7
4
112.733
114.038 114.958 115.897 116.440
5
L es s: In c o m e p a y m e n ts to th e r e s t
1 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
2 . S o m e c o m p o n e n t s o f fin al s a l e s of c o m p u te r s in c lu d e c o m p u te r p a r ts .
Equals: Gross national product
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 0 7 .2 2 9
1 1 0 .1 4 7
1 0 8 .7 4 6
1 0 9 .1 1 0
1 1 0 .2 1 6
1 1 0 .2 3 5
P r i v a t e .......................................
6
1 0 6 .4 9 8
1 0 9 .1 4 8
1 0 7 .9 5 9
1 0 8 .2 0 7
1 0 9 .3 6 3
1 0 9 .1 7 0
1 0 9 .8 5 3
G o v e r n m e n t ...........................
7
1 1 1 .1 1 7
1 1 5 .4 7 2
1 1 2 .9 5 3
1 1 3 .9 3 6
1 1 4 .7 7 8
1 1 5 .9 0 2
1 1 7 .2 7 2
1 1 1 .0 2 8
8
1 1 0 .2 9 2
1 1 4 .6 5 2
112.121
1 1 3 .1 3 4
1 1 3 .9 6 5
1 1 5 .0 8 5
1 1 6 .4 2 3
e n t e r p r i s e s ................
9
1 1 5 .4 9 5
1 1 9 .8 3 4
1 1 7 .3 7 3
1 1 8 .2 0 0
1 1 9 .1 0 1
1 2 0 .2 4 8
1 2 1 .7 8 5
Equals: Net national product....
m
113.529
11
1 1 3 .5 4 6
G e n e ra l g o v e rn m e n t
G o v ern m e n t
114.800 115.800 116.716 117.333
Addendum:
N e t d o m e s t i c p r o d u c t ........................
1 1 6 .9 1 6
1 1 4 .8 1 4
1 1 5 .8 1 4
1 1 6 .7 2 9
1 1 7 .3 4 4
1 1 7 .7 7 7
D-14
National Data
March 2007
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net
National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
I
L in e
II
III
1 12,455.8 13,244.6 12,730.5 13,008.4 13,197.3 13,322.6 13,449.9
Gross domestic product...........
P lu s : I n c o m e r e c e i p t s f r o m t h e r e s t
7
P lu s: I n c o m e r e c e ip t s fro m th e
5 1 3 .3
5 6 4 .9
6 0 3 .3
6 6 1 .4
6 8 2 .3
3
4 8 1 .5
5 5 2 .4
5 7 4 .3
6 3 8 .6
6 6 5 .7
r e s t o f t h e w o r l d ....................................
L e s s : I n c o m e p a y m e n ts to th e r e s t
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
P r i v a t e ............................................
D o m e s t i c b u s i n e s s ........
12,487.7
4
12,743.0 13,037.4 13,220.1 13,339.2
Equals: Gross national product
4 5 6 .9
4 9 6 .1
5 2 6 .4
5 7 1 .4
5 8 6 .5
4 2 7 .2
4 8 3 .8
4 9 9 .7
550 3
570 9
1 ,6 0 2 .1
4
11,077.9
11,175.6 11,342.7 11,408.5 11,458.5
1 ,6 0 4 .8
1 ,5 7 6 .2
1 ,5 6 2 .5
1 ,5 4 8 .0
1 ,5 7 2 .8
1 ,5 8 2 .0
5
1 ,4 9 6 .6
1 ,4 3 1 .6
1 ,4 3 7 .4
1 ,4 1 9 .4
1 ,4 2 7 .6
1 ,4 3 5 .7
1 ,4 4 3 .6
1 ,3 1 0 .6
1 ,3 0 7 .5
1 ,2 8 8 .9
1 ,3 0 9 .8
1 ,3 1 4 .4
1 ,3 2 9 .0
P r i v a t e .......................................
6
1 ,2 7 0 .1
1, 201.2
1 ,2 1 1 .7
1 ,1 9 1 .7
1 ,1 9 8 .2
1 ,2 0 4 .5
1 ,2 1 0 .4
1 ,0 5 0 .4
1 ,0 4 4 .4
1 ,0 3 5 .1
1 ,0 5 0 .4
1 ,0 5 3 .0
1 ,0 6 3 .3
G o v e r n m e n t ...........................
7
2 2 7 .0
2 3 0 .1
2 2 5 .8
2 2 7 .5
2 2 9 .1
2 3 0 .9
2 3 2 .9
8
1 8 7 .8
1 9 3 .2
1 8 9 .5
1 9 1 .0
1 9 2 .4
1 9 3 .9
1 9 5 .4
9 5 3 .1
9 6 6 .4
9 4 1 .5
9 6 0 .7
9 6 4 .3
9 6 8 .3
9 7 2 .4
3 9 .0
3 6 .9
3 6 .3
3 6 .4
3 6 .7
3 7 .1
3 7 .4
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
G e n e ra l g o v e rn m e n t
8
9
G o v ern m e n t
Equals: Net national product....
-1 0 6 .1
-8 4 .0
- 1 0 2 .9
- 7 4 .4
-
86.1
- 8 4 .7
-9 0 .9
10
11
12
2 9 3 .5
2 6 0 .1
2 6 3 .1
2 5 3 .8
2 5 9 .5
2 6 1 .4
2 6 5 .7
2 5 2 .2
2 6 5 .7
2 5 5 .0
2 5 9 .1
2 6 2 .9
2 6 7 .6
2 7 3 .0
2 0 7 .2
e n t e r p r i s e s .....................
13
Equals: Net national product.......
14
10,882.9
Less: Statistical discrepancy......
15
71.0
2 2 1 .5
2 1 2 .4
2 1 6 .1
2 1 9 .2
2 2 3 .1
2 2 7 .5
Equals: National income..............
16
10,811.8
4 5 .1
4 4 .2
4 2 .6
4 3 .0
4 3 .7
4 4 .5
4 5 .5
11,180.5 11,489.4 11,647.3 11,757.3
74.3
-61.9
35.8
M
11,106.2 11,551.3 11,611.5 11,733.7
1 ,3 3 0 .7
9
10
9,586.6
9,740.0
9,922.8
9,980.4 10,022.5
Addenda:
G ro s s d o m e s tic in c o m e
G r o s s n a tio n a l in c o m e
1.............
2................
11
1?
1 0 ,9 8 5 .6
1 1 ,0 1 4 .9
N e t d o m e s t i c p r o d u c t ........................
13
9 ,5 5 7 .2
3...................
14
9 ,4 9 4 .7
N e t d o m e s tic in c o m e
9 ,9 8 1 .5
11, 4 2 3 . 3
1 1 ,0 9 8 .7
1 1 ,3 7 0 .3
1 1 ,3 5 7 .2
1 1 ,1 1 0 .5
1 1 ,3 9 6 .5
1 1 ,3 7 7 .7
1 1 ,4 3 8 .3
9 ,7 2 7 .9
9 ,8 9 6 .5
9 ,9 5 9 .8
1 0 ,0 0 7 .3
9 ,6 6 3 .2
9 ,9 4 9 .9
9 ,9 2 9 .2
9 ,9 8 7 .3
1 0 ,0 6 2 .4
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
Gross national income deflated by the implicit price deflator for gross national product.
Net domestic income deflated by the implicit price deflator for net domestic product.
N ote . Except as noted in footnotes 1 , 2 and 3, chained (2 0 0 0 ) dollar series are calculated as the product of the chain-type
quantity index and the 2 0 0 0 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.
2.
3.
23.5
L e s s : C o r p o r a t e p r o f i ts w ith
c o n s u m p t i o n a d j u s t m e n t s .................
7
S
1 ,0 5 9 .1
G o v ern m e n t
in v e n t o r y v a l u a t i o n a n d c a p i t a l
IV
1 ,3 5 2 .6
H o u se h o ld s a n d
G e n e ra l g o v e rn m e n t....
III
1 11,048.6 11,413.6 11,163.8 11,316.4 11,388.1 11,443.5 11,506.5
5
c o n s u m p tio n
G o v e r n m e n t ...............................
II
7
e n t e r p r i s e s ................
i n s t i t u t i o n s ......................
2006
I
6
L e s s : C a p ita l
a d j u s t m e n t ..............
2005
L ess: In c o m e p a y m e n ts to th e re s t
C a p ita l c o n s u m p tio n
a l l o w a n c e s ..............
2006
IV
Gross domestic product..............
Equals: Gross national product...
2005
IV
1 ,3 9 3 .5
1 ,5 6 9 .1
1 ,5 9 1 .8
1 ,6 5 3 .3
18
8 6 5 .1
9 1 2 .2
8 7 4 .2
8 9 7 .4
9 1 4 .0
9 1 6 .8
9 2 0 .8
19
8 8 0 .6
9 4 4 .5
8 9 8 .9
9 3 6 .7
9 3 8 .8
9 4 5 .2
9 5 7 .2
20
4 8 3 .4
5 1 0 .6
4 9 0 .0
5 1 4 .8
5 1 3 .2
4 9 8 .6
5 1 5 .9
21
7 4 .2
9 3 .1
9 9 .1
9 3 .8
9 3 .1
9 2 .8
9 2 .8
22
- 1 5 .4
- 9 .9
- 1 3 .3
- 9 .2
- 9 .4
T a x e s o n p r o d u c tio n a n d
i m p o r t s l e s s s u b s i d i e s ......
C o n trib u tio n s fo r
Table 1.8.3. Command-Basis Real Gross National Product, Quantity Indexes
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 d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
N e t in te r e s t a n d
m is c e lla n e o u s p a y m e n ts
o n a s s e t s ......................................
S e a s o n a lly a d ju s te d
B u s in e s s c u rre n t tra n s fe r
p a y m e n t s ( n e t ) ........................
L in e
2005
2006
2005
2006
C u rre n t s u rp lu s of
g o v e rn m e n t e n te r p r is e s
-
10.2
-1 0 .9
0.0
5 0 .0
IV
I
II
III
1 112.399
113.390
115.085
115.753
116.260
7
1 1 1 .9 0 6
1 1 6 .7 9 3
1 2 1 .6 3 6
1 2 6 .0 4 3
1 2 8 .5 3 0
1..........................................................
3
110.121
1 1 3 .6 1 9
1 1 9 .0 4 4
1 2 2 .4 8 8
1 2 4 .6 3 8
Equals: Command-basis gross
national product.....................
4
112.131
112.914
114.696
115.219
115.676
5
2.8
0 .3
1.8
1.6
IV
W a g e a c c ru a ls le s s
d i s b u r s e m e n t s .........................
23
0.0
1 2 .5
0.0
0.0
0.0
P lu s : P e r s o n a l i n c o m e r e c e i p t s o n
a s s e t s ................................................................
Gross national product.............
L es s: E x p o rts of g o o d s a n d
24
1 ,5 1 9 .4
1 ,6 5 7 .6
1 ,5 8 0 .2
1 ,6 0 2 .3
1 ,6 4 7 .7
1 ,6 8 3 .6
1 ,6 9 6 .9
r e c e i p t s ..........................................
25
1 ,5 2 6 .6
1 ,6 0 2 .3
1 ,5 3 9 .8
1 ,5 7 0 .4
1 ,5 8 9 .7
1 ,6 1 8 .6
1 ,6 3 0 .2
Equals: Personal income.............
26
10,239.2 10,884.0 10,483.7 10,721.4 10,807.3 10,939.4 11,067.9
G r o s s d o m e s t i c i n c o m e ......................
71
1 2 ,3 8 4 .8
1 2 ,6 5 6 .2
1 3 ,0 7 0 .3
1 3 ,1 6 1 .6
1 3 ,2 9 9 .1
G r o s s n a t i o n a l i n c o m e .........................
?a
1 2 ,4 1 6 .6
1 1 ,4 9 2 .7
1 2 ,6 6 8 .7
1 3 ,1 8 4 .3
1 3 ,3 1 5 .7
1 1 ,7 0 8 .6
1 3 ,0 9 9 .3
1 2 ,1 1 7 .4
1 2 ,1 8 6 .5
1 2 ,3 1 6 .3
N e t d o m e s t i c p r o d u c t ...........................
30
1 0 ,8 5 1 .0
1 1 ,1 6 8 .0
1 1 ,4 6 0 .3
1 1 ,6 2 4 .6
1 1 ,7 4 0 .6
N e t d o m e s t i c i n c o m e ............................
31
1 0 ,7 8 0 .0
1 1 ,0 9 3 .8
1 1 ,5 2 2 .2
1 1 ,5 8 8 .8
1 1 ,7 1 7 .1
P e r c e n t c h a n g e fro m p r e c e d in g
32
9 ,8 8 7 .9
1 0 ,1 4 6 .2
1 0 ,5 6 9 .3
1 0 ,6 1 3 .7
1 0 ,7 3 4 .3
p e r i o d in c o m m a n d - b a s i s
P e rs o n a l c u rre n t tra n s fe r
g o o d s a n d s e r v i c e s a n d in c o m e
r e c e ip t s fro m t h e r e s t o f th e
Addenda:
N e t n a tio n a l f a c to r in c o m e
s e r v i c e s a n d in c o m e r e c e ip ts
f r o m t h e r e s t o f t h e w o r l d ..............
P lu s : C o m m a n d - b a s i s e x p o r t s o f
2
1 1 ,6 6 8 .3
w o rld
1 1 ,8 4 7 .9
Addendum:
r e a l g r o s s n a t i o n a l p r o d u c t ...
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.
6 .5
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
Table 1.8.6. Command-Basis Real Gross National Product, Chained Dollars
[B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ]
S e a s o n a ll y a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Gross national product.............
1 11,077.9
2006
I
II
III
IV
11.175.6 11,342.7 11,408.5 11,458.5
L es s: E x p o rts o f g o o d s a n d
s e r v i c e s a n d in c o m e r e c e ip t s
2
1 ,6 5 5 .0
1 .7 2 7 .3
1 ,7 9 8 .9
1 ,8 6 4 .1
1 ,9 0 0 .9
w o r l d ’ ..........................................................
3
1 ,6 2 8 .6
1 .6 8 0 .4
1 ,7 6 0 .6
1 ,8 1 1 .6
1 ,8 4 3 .4
Equals: Command-basis gross
national product.....................
4
11,051.5
f r o m t h e r e s t o f t h e w o rl d
P lu s : C o m m a n d - b a s i s e x p o r t s o f
g o o d s a n d s e r v i c e s a n d in c o m e
r e c e ip t s fro m t h e r e s t o f th e
11.128.7 11,304.4 11,356.0 11,401.0
Addendum:
T erm s of tra d e
2....................................
5
9 8 .4 0 6
9 7 .2 8 6
9 7 .8 7 2
9 7 .1 8 3
9 6 .9 7 5
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit
price deflator for imports divided by 100.
N ote . Chained (2 0 0 0 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 0 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.
March 2007
Survey
of
D-15
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]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2006
2005
2006
2005
IV
G r o s s d o m e s t i c i n c o m e .............................................................................................................................................................
12,384.8
12,656.2
13,070.3
13,161.6
13,299.1
C o m p e n s a t i o n o f e m p l o y e e s , p a i d ...............................................................................................................................................
7,036.6
7,495.7
7.190.7
7,406.6
7.431.8
7.495.6
7,648.7
W a g e a n d s a l a r y a c c r u a l s ....................................................................................................................................................................
5 .6 7 1 .1
6 ,0 4 1 .4
5 .7 9 3 .3
5 .9 7 6 .4
5 .9 8 7 .2
6 .0 3 3 .9
6 ,1 6 8 .1
D i s b u r s e m e n t s ........................................................................................................................................................................................
5 .6 7 1 .1
6 ,0 2 8 .9
5 .7 9 3 .3
5 .9 7 6 .4
5 .9 8 7 .2
6 .0 3 3 .9
6 ,1 1 8 .1
5 ,6 6 1 .9
5 .7 8 4 .0
5 .9 6 7 .2
5 .9 7 8 .0
6 .0 2 4 .7
9 .2
9 .3
9 .2
9 .2
9 .2
T o p e r s o n s ...........................................................................................................................................................................................
T o t h e r e s t o f t h e w o r l d ....................
W a g e a c c ru a ls le s s d is b u rs e m e n ts
0.0
1 2 .5
0.0
S u p p l e m e n ts to w a g e s a n d s a l a r i e s .
1 .3 6 5 .5
1 ,4 5 4 .3
1 .3 9 7 .4
1 .4 3 0 .3
937.3
952.5
0.0
0.0
1 ,4 4 4 .5
0.0
1 .4 6 1 .6
971.7
52.3
51.8
51.0
3.243.0
3.304.7
964.8
L e s s : S u b s i d i e s ...............................................................................................................................................................................................
57.3
52.5
63.1
55.1
N e t o p e r a t i n g s u r p l u s ................................................................................................................................................................................
2.878.2
3.028.8
3.218.2
P r i v a t e e n t e r p r i s e s ....................................................................................................................................................................................
2 .8 9 3 .6
3 .0 4 2 .1
3 .2 2 7 .4
3 .2 5 2 .3
3 .3 1 4 .9
N e t i n t e r e s t a n d m i s c e l l a n e o u s p a y m e n t s , d o m e s t i c i n d u s t r i e s .....................................................................
6 4 2 .3
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 ........
6 6 7 .5
7 0 5 .5
5 0 .0
1 ,4 8 0 .6
968.6
922.4
966.4
7 2 4 .0
7 1 0 .2
B u s i n e s s c u r r e n t t r a n s f e r p a y m e n t s ( n e t ) ........................................................................................................................
7 4 .2
9 3 .1
9 9 .1
9 3 .8
9 3 .1
9 2 .8
9 2 .8
P r o p r i e t o r s ' i n c o m e w ith in v e n t o r y v a l u a t i o n a n d c a p i t a l c o n s u m p t i o n a d j u s t m e n t s .....................
9 7 0 .7
1 ,0 1 5 .0
9 9 6 .8
1 .0 0 8 .3
1 .0 1 1 .9
1 .0 1 4 .8
1 ,0 2 5 .1
R e n t a l i n c o m e o f p e r s o n s w ith c a p i t a l c o n s u m p t i o n a d j u s t m e n t ..................................................................
7 2 .8
7 6 .7
8 1 .5
7 6 .8
7 1 .4
7 8 .3
8 0 .5
C o r p o r a t e p r o f i ts w ith in v e n t o r y v a l u a t i o n a n d c a p i t a l c o n s u m p t i o n a d j u s t m e n t s , d o m e s t i c
i n d u s t r i e s ..............................................................................................................................................................................................
1 .1 3 3 .7
1 .1 9 7 .2
1 .3 4 3 .0
1 .3 5 1 .9
1 ,4 1 8 .7
T a x e s o n c o r p o r a t e i n c o m e ....................................................................................................................................................
3 9 9 .3
4 2 4 .6
4 5 6 .9
4 7 6 .1
4 9 0 .6
P r o f its a f t e r t a x w ith i n v e n to r y v a l u a t i o n a n d c a p i t a l c o n s u m p t i o n a d j u s t m e n t s ........................
7 3 4 .4
7 7 2 .6
886.1
8 7 5 .9
9 2 8 .1
N e t d i v i d e n d s ..............................................................................................................................................................................
3 3 8 .7
2 3 4 .9
5 2 8 .1
5 4 9 .4
5 6 9 .8
a d j u s t m e n t s ...........................................................................................................................................................................
3 9 5 .7
5 3 7 .7
3 5 7 .9
3 2 6 .5
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 i s e s ..........................................................................................................................
- 1 5 .4
- 1 3 .3
- 9 .2
-9 .4
U n d i s t r i b u t e d c o r p o r a t e p r o f i ts w ith in v e n t o r y v a l u a t i o n a n d c a p i t a l c o n s u m p t i o n
C o n s u m p t i o n o f f i x e d c a p i t a l .............................................................................................................................................................
1.604.8
3 5 8 .3
10.2
- 1 0 .9
1,576.2
1.562.5
1.548.0
1.572.8
1,582.0
1,602.1
1 ,2 8 8 .9
1 .3 0 9 .8
1 ,3 1 4 .4
1 ,3 2 9 .0
2 7 3 .0
- 9 .9
-
P r i v a t e ..................................................................................................................................................................................................................
1 ,3 5 2 .6
1 ,3 1 0 .6
1 .3 0 7 .5
G o v e r n m e n t ....................................................................................................................................................................................................
2 5 2 .2
2 6 5 .7
2 5 5 .0
2 5 9 .1
2 6 2 .9
2 6 7 .6
7 4 .3
-6 1 .9
3 5 .8
2 3 .5
Addendum:
S t a tis tic a l d i s c r e p a n c y .
7 1 .0
D-16
National Data
March 2007
Table 1.12. National Income by Type of Income
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
IV
National incom e........................................................................................................................
Compensation of employees............................................................................................................
W a g e a n d s a la r y a c c ru a ls
G o v e r n m e n t ........................
..........................................................................................................
O t h e r .........................................
S u p p le m e n ts to w a g e s a n d s a la r ie s
I
II
III
IV
1
2
10,811.8
7,030.3
7,489.4
7,184.4
7,400.3
7,425.5
7,489.3
3
5 ,6 6 4 .8
6 ,0 3 5 .1
5 ,7 8 7 .0
5 ,9 7 0 .1
5 ,9 8 0 .9
6 ,0 2 7 .6
4
9 7 7 .7
1 ,0 1 3 .9
9 8 8 .1
9 9 8 .1
1 ,0 0 5 .9
1 ,0 2 0 .5
1 ,0 3 0 .9
5
4 ,6 8 7 .1
5 ,0 2 1 .2
4 ,7 9 8 .9
4 ,9 7 2 .0
4 ,9 7 5 .0
5 ,0 0 7 .1
5 ,1 3 0 .9
6
1 ,3 6 5 .5
1 ,4 5 4 .3
1 ,3 9 7 .4
1 ,4 3 0 .3
1 ,4 4 4 .5
1 ,4 6 1 .6
1 ,4 8 0 .6
1 ,0 1 3 .6
11,106.2
11,551.3
11,611.5
11,733.7
E m p l o y e r c o n t r i b u t i o n s f o r e m p l o y e e p e n s i o n a n d i n s u r a n c e f u n d s ......................................................................
7
9 3 3 .2
9 9 2 .7
9 5 6 .1
9 7 1 .6
9 8 5 .7
1, 000.1
E m p lo y e r c o n trib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e
8
4 3 2 .3
4 6 1 .5
4 4 1 .3
4 5 8 .7
4 5 8 .9
4 6 1 .5
9
970.7
1,015.0
3 0 .2
22.6
Rental income of persons with CCAdj.............................................................................................
10
11
12
Corporate profits with IVA and CCAdj..............................................................................................
n
Proprietors’ income with IVA and CCAdj.....................
F a r m .........................................................................................................................
N o n f a r m ................................................................................................................
9 4 0 .4
72.8
9 9 2 .4
76.7
1,330.7
T a x e s o n c o r p o r a t e i n c o m e .............................................................................................................................................................................
14
3 9 9 .3
P r o f i t s a f t e r t a x w ith IVA a n d C C A d j ..........
I 1}
9 3 1 .4
N e t d i v i d e n d s ........................................................
16
5 7 6 .9
U n d i s t r i b u t e d p r o f i ts w ith IVA a n d C C A d j
17
3 5 4 .5
6 4 2 .2
996.8
1,008.3
1,011.9
1,014.8
7,642.4
6 ,1 6 1 .8
4 6 7 .0
1,025.1
2 8 .7
2 3 .9
1 7 .5
2 1 .7
2 7 .4
9 6 8 .1
9 8 4 .4
9 9 4 .3
9 9 3 .2
9 9 7 .8
81.5
76.8
71.4
78.3
1,393.5
1,569.1
1,591.8
1,653.3
4 2 4 .6
4 5 6 .9
4 7 6 .1
4 9 0 .6
9 6 8 .9
1, 112.1
1 ,1 1 5 .7
1 ,1 6 2 .7
6 0 1 .0
6 1 5 .7
6 3 1 .1
6 5 0 .4
3 6 7 .9
4 9 6 .4
4 8 4 .6
5 1 2 .4
80.5
6 7 1 .4
Net interest and miscellaneous payments
18
483.4
510.6
490.0
514.8
513.2
498.6
Taxes on production and im ports.....................................................................................................
19
922.4
964.8
937.3
952.5
966.4
968.6
515.9
971.7
Less: Subsidies.................................................................................................................................
T o p e r s o n s ( n e t ) ....................
20
21
22
T o g o v e r n m e n t ( n e t ) ..............................................................................................................................................................................................
23
T o t h e r e s t o f t h e w o r l d ( n e t ) ............................................................................................................................................................................
24
-1.6
Current surplus of government enterprises....................................................................................
25
-15.4
?fi
1 ,2 1 1 .3
57.3
52.5
63.1
55.1
52.3
51.8
51.0
74.2
93.1
99.1
93.8
93.1
92.8
92.8
4 5 .7
3 5 .3
3 9 .0
3 4 .5
3 5 .0
3 5 .5
3 6 .0
3 0 .1
5 7 .1
4 9 .4
5 5 .6
5 6 .7
0.8
1 0 .7
3 .7
1 .4
-9.9
-13.3
-9.2
1 ,2 2 3 .9
3 6 7 .9
8 5 6 .0
-3 2 .6
30
1 ,2 4 3 .9
P r o p r i e t o r s ’ i n c o m e w ith IVA a n d C C A d j ..............................................................................................................................................
31
9 7 0 .7
F a r m ..............................................................................................................................................................................................................................
32
3 0 .2
22.6
P r o p r i e t o r s ’ i n c o m e w ith I V A ..............................................................................................................................................................
33
3 6 .8
2 9 .2
C a p i t a l c o n s u m p t i o n a d j u s t m e n t ....................................................................................................................................................
34
- 6 .5
-
- 6 .7
-
Business current transfer payments (net).......................................................................................
5 7 .9
5 8 .1
0.6
- 1 .3
-9.4
-10.2
-10.9
1 3 4 9 .2
1 3 5 0 .3
1 380 5
4 9 6 .4
4 8 4 .6
8 5 2 .8
8 6 5 .6
868.2
- 3 9 .2
- 2 2 .9
- 5 8 .9
-3 8 .2
1 ,2 6 3 .2
1 ,3 7 2 .1
1 ,4 0 9 .2
1 ,4 1 8 .8
9 9 6 .8
1 ,0 0 8 .3
1 ,0 1 1 .9
1 ,0 1 4 .8
2 8 .7
2 3 .9
1 7 .5
2 1 .7
3 5 .4
3 0 .5
2 4 .3
2 8 .2
- 6 .7
-
-
Cash flow:
U n d i s t r i b u t e d p r o f i ts w ith IVA a n d C C A d j ......................................................................................................................................
71
C o n s u m p t i o n o f f ix e d c a p i t a l ....................................................................................................................................................................
28
3 5 4 .5
8 5 6 .8
L e s s : I n v e n t o r y v a l u a t i o n a d j u s t m e n t ......................................................................................................................................................
E q u a l s : N e t c a s h f lo w ..........................
8 6 5 .9
5 1 2 .4
8 7 7 .0
Addenda:
N o n f a r m ...................................................
1 ,0 1 5 .0
6.6
6.6
6.6
1 ,0 2 5 .1
2 7 .4
3 3 .9
-6 .5
35
9 4 0 .4
9 9 2 .4
9 6 8 .1
9 8 4 .4
9 9 4 .3
9 9 3 .2
9 9 7 .8
P r o p r i e t o r s ’ i n c o m e (w i t h o u t IVA a n d C C A d j ) .....................................................................................................................
36
866.2
8 9 7 .9
8 8 7 .7
8 9 1 .1
9 0 4 .7
8 9 7 .7
8 9 8 .1
I n v e n t o r y v a l u a t i o n a d j u s t m e n t .......................................................................................................................................................
37
- 5 .1
-3 .5
- 2 .4
-6 .9
- 3 .7
C a p i t a l c o n s u m p t i o n a d j u s t m e n t ....................................................................................................................................................
38
7 9 .3
9 8 .0
8 6 .5
9 5 .7
9 6 .5
9 9 .1
R e n t a l i n c o m e o f p e r s o n s w ith C C A d j ....................................................................................................................................................
39
7 2 .8
7 6 .7
8 1 .5
7 6 .8
7 1 .4
7 8 .3
-
6.2
- 1.1
100.8
8 0 .5
R e n t a l i n c o m e o f p e r s o n s (w it h o u t C C A d j ) ..................................................................................................................................
40
9 6 .2
9 1 .7
9 8 .6
9 1 .6
8 6 .5
9 3 .1
9 5 .4
C a p i t a l c o n s u m p t i o n a d j u s t m e n t ...........................................................................................................................................................
41
-2 3 .4
-1 4 .9
- 1 7 .1
- 1 4 .8
- 1 5 .1
-1 4 .8
-1 4 .9
C o r p o r a t e p r o f i ts w ith IVA a n d C C A d j ....
4?
C o r p o r a t e p r o f i ts w ith I V A ...........................
43
1 ,3 3 0 .7
1 ,3 9 3 .5
1 ,5 6 9 .1
1 ,5 9 1 .8
1 ,4 8 6 .1
1 ,5 5 9 .1
1 ,7 1 7 .7
1 ,7 5 2 .6
1 815
P r o f i t s b e f o r e t a x (w it h o u t IVA a n d C C A d j ) ...........................................................................................................................
44
1 ,5 1 8 .7
1 ,5 9 8 .3
1 ,7 4 0 .6
1 ,8 1 1 .5
1 ,8 5 4 .0
T a x e s o n c o r p o r a t e i n c o m e ...........................................................................................................................................................
45
3 9 9 .3
4 2 4 .6
4 5 6 .9
4 7 6 .1
4 9 0 .6
P r o f i t s a f t e r t a x (w i t h o u t IVA a n d C C A d j ) ..........................................................................................................................
4fi
1 ,1 1 9 .4
1 ,1 7 3 .7
1 ,2 8 3 .7
1 ,3 3 5 .4
1 ,3 6 3 .4
6 0 1 .0
6 1 5 .7
6 3 1 .1
6 5 0 .4
N e t d i v i d e n d s ......................................
47
5 7 6 .9
6 4 2 .2
1 ,6 5 3 .3
8
U n d i s t r i b u t e d p r o f i ts (w i t h o u t IVA a n d C C A d j ) .......................................................................................................
48
5 4 2 .5
5 7 2 .7
668.0
7 0 4 .3
7 1 3 .0
I n v e n t o r y v a l u a t i o n a d j u s t m e n t .......................................................................................................................................................
49
- 3 2 .6
- 3 9 .2
- 2 2 .9
- 5 8 .9
-3 8 .2
C a p i t a l c o n s u m p t i o n a d j u s t m e n t ...........................................................................................................................................................
50
- 1 5 5 .5
- 1 6 5 .6
- 1 4 8 .6
- 1 6 0 .8
- 1 6 2 .4
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
- 1 6 0 .5
6 7 1 .4
- 1 7 0 .2
March 2007
Survey
of
D-17
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
[B illio n s o f d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
Line
2005
2006
2005
2006
IV
G r o s s v a lu e a d d e d o f c o r p o r a te b u s in e s s
1...............................
7.357.0
C o n s u m p t i o n o f f ix e d c a p i t a l
8 5 6 .8
N e t v a l u e a d d e d .........................
II
7.539.4
8 6 5 .9
6 ,5 0 0 .2
7.823.0
7.865.8
7.971.8
868.2
8 5 6 .0
8 5 2 .8
8 6 5 .6
6 .6 8 3 .4
6 .9 7 0 .2
7 ,0 0 0 .2
7 .1 0 3 .6
8 7 7 .0
C o m p e n s a tio n o f e m p lo y e e s
4 ,6 1 2 .5
4 ,9 3 8 .0
4 .7 2 3 .2
4 .8 8 4 .1
4 .8 9 4 .9
4 .9 3 0 .7
5 ,0 4 2 .5
W a g e a n d s a la r y a c c ru a ls
3 .7 6 1 .0
4 ,0 2 8 .8
3 ,8 5 0 .6
3 .9 8 9 .3
3 .9 9 1 .7
4 .0 1 7 .5
4 ,1 1 6 .7
S u p p l e m e n t s t o w a g e s a n d s a l a r i e s ........................................................
8 5 1 .5
9 0 9 .3
8 7 2 .6
8 9 4 .8
9 0 3 .1
9 1 3 .2
9 2 5 .8
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 l e s s s u b s i d i e s ..................................
6 0 4 .9
6 3 3 .3
6 1 4 .8
6 2 5 .0
6 3 4 .4
6 3 5 .7
6 3 8 .0
1 .3 4 5 .4
1 .4 6 1 .1
1 .4 7 0 .9
1 ,5 3 7 .3
N e t o p e r a t i n g s u r p l u s ...........................................
1 .2 8 2 .7
N e t i n t e r e s t a n d m i s c e l l a n e o u s p a y m e n t s ..........................................
5 7 .1
5 6 .3
6 0 .9
6 2 .8
6 2 .6
B u s i n e s s c u rr e n t tr a n s fe r p a y m e n ts ..
9 2 .7
9 1 .2
5 7 .1
5 6 .1
5 6 .0
C o r p o r a t e p r o f i ts w ith IVA a n d C C A d j
1 .1 3 3 .7
1 .1 9 7 .2
1 .3 4 3 .0
1 .3 5 1 .9
1 .4 1 8 .7
T a x e s o n c o r p o r a t e i n c o m e .................
3 9 9 .3
4 2 4 .6
4 5 6 .9
4 7 6 .1
4 9 0 .6
P r o f i t s a f t e r t a x w ith IVA a n d C C A d j
9 2 8 .1
5 6 .2
7 3 4 .4
7 7 2 .6
886.1
8 7 5 .9
N e t d i v i d e n d s ..................................................................................................
3 3 8 .7
2 3 4 .9
5 2 8 .1
5 4 9 .4
U n d i s t r i b u t e d p r o f i ts w ith IVA a n d C C A d j .................................
3 9 5 .7
5 3 7 .7
3 5 7 .9
3 2 6 .5
G r o s s v a lu e a d d e d o f fin a n c ia l c o r p o r a te b u s in e s s
1......
987.3
6.369.7
G ro s s v a lu e a d d e d o f n o n f in a n c ia l c o r p o r a te b u s in 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 ................................
7 3 9 .7
N e t v a l u e a d d e d .............................................................
5 .6 3 0 .1
C o m p e n s a t i o n o f e m p l o y e e s .........................
4 .0 9 9 .7
W a g e a n d s a l a r y a c c r u a l s ..........................
S u p p le m e n ts to w a g e s a n d s a l a r i e s .
7 4 4 .5
5 5 .6
5 6 9 .8
3 5 8 .3
1.004.5
1,034.9
1.075.8
1.072.9
6,534.8
6.788.2
6,790.0
6.898.9
7 3 7 .2
7 3 3 .7
7 4 4 .4
7 4 6 .3
5 .7 9 7 .6
6 .0 5 4 .5
6 ,0 4 5 .7
6 .1 5 2 .6
4 ,3 8 9 .0
4 ,1 9 8 .0
4 .3 4 1 .0
4 .3 5 0 .6
4 .3 8 2 .5
4 ,4 8 1 .8
7 5 3 .6
3 .3 3 5 .1
3 ,5 7 2 .5
3 ,4 1 4 .5
3 .5 3 7 .5
3 .5 3 9 .7
3 .5 6 2 .5
3 ,6 5 0 .5
7 6 4 .6
8 1 6 .5
7 8 3 .5
8 0 3 .5
8 1 1 .0
8 2 0 .0
8 3 1 .4
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 l e s s s u b s i d i e s ..................................
5 5 8 .1
5 8 4 .3
5 6 7 .2
5 7 6 .7
5 8 5 .3
5 8 6 .5
5 8 8 .6
N e t o p e r a t i n g s u r p l u s ..........................................
9 7 2 .2
1 ,0 3 2 .4
1 ,1 3 6 .8
1 .1 0 9 .7
1 .1 8 3 .7
1 6 5 .1
1 7 5 .1
N e t i n t e r e s t a n d m i s c e l l a n e o u s p a y m e n t s ..........................................
1 5 6 .6
1 8 0 .0
1 7 7 .2
B u s i n e s s c u rr e n t tr a n s fe r p a y m e n ts ..
5 1 .4
6 0 .9
6 0 .9
6 1 .7
6 2 .5
C o r p o r a t e p r o f i ts w ith IVA a n d C C A d j
7 6 4 .2
8 0 6 .4
9 0 0 .9
868.1
9 4 3 .9
T a x e s o n c o r p o r a t e i n c o m e ................
2 5 1 .4
2 6 6 .4
2 8 0 .9
2 8 3 .3
2 9 9 .6
P r o f its a f t e r t a x w ith IVA a n d C C A d |
5 1 2 .9
6 2 .1
5 4 0 .0
6 2 0 .0
5 8 4 .8
6 4 4 .3
N e t d i v i d e n d s ..................................................................................................
2 2 8 .5
120.1
3 7 7 .7
3 9 2 .8
4 0 7 .5
U n d i s t r i b u t e d p r o f i ts w ith IVA a n d C C A d j .................................
2 8 4 .4
4 1 9 .9
2 4 2 .3
1 9 2 .0
2 3 6 .8
1 ,3 2 1 .7
6 3 .2
A ddenda:
C o rp o ra te b u s in e s s :
P r o f its b e f o r e t a x (w it h o u t IVA a n d C C A d j ) .........................................
1 ,4 0 2 .0
1 .5 1 4 .6
1 .5 7 1 .6
1 ,6 1 9 .3
P r o f its a f t e r t a x (w it h o u t IVA a n d C C A d j ) .............................................
9 2 2 .4
9 7 7 .4
1 .0 5 7 .6
1 .0 9 5 .6
1 ,1 2 8 .7
I n v e n t o r y v a l u a t i o n a d j u s t m e n t .....................................................................
- 3 2 .6
-3 9 .2
-2 2 .9
- 5 8 .9
- 3 8 .2
- 1 6 5 .6
- 1 4 8 .6
- 1 6 0 .8
- 1 6 2 .4
9 8 8 .7
1 .0 5 0 .6
1 ,0 6 3 .5
1 ,1 1 9 .2
C a p i t a l c o n s u m p t i o n a d j u s t m e n t ..........
- 1 5 5 .5
- 1 6 0 .5
- 1 7 0 .2
N o n fin a n c ia l c o r p o r a t e b u s in e s s :
P r o f i t s b e f o r e t a x (w it h o u t IVA a n d C C A d j ) .........................................
9 3 2 .6
P r o f i t s a f t e r t a x (w it h o u t IVA a n d C C A d j ) .............................................
6 8 1 .3
7 2 2 .3
7 6 9 .7
7 8 0 .2
8 1 9 .6
I n v e n to r y v a l u a t i o n a d j u s t m e n t .....................................................................
- 3 2 .6
-3 9 .2
-2 2 .9
-5 8 .9
- 3 8 .2
C a p i t a l c o n s u m p t i o n a d j u s t m e n t .................................................................
- 1 3 5 .8
- 1 4 3 .0
- 1 2 6 .8
- 1 3 6 .5
- 1 3 7 .1
- 1 3 5 .8
- 1 4 3 .0
V a l u e a d d e d , in b ill io n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s
Gross value added of nonfinancial corporate business 2..
40
C o n s u m p t i o n o f f ix e d c a p i t a l 3.....................................................................
41
6 8 1 .6
4..................................................................................................
42
5 ,1 7 1 .2
N e t v a lu e a d d e d
5,852.9
5,927.8
6,111.2
6,069.0
6,158.9
6 7 0 .5
666.1
6 6 9 .2
6 7 2 .0
5 ,2 5 7 .3
5 ,4 4 5 .0
5 ,3 9 9 .8
5 ,4 8 6 .9
6 7 0 .5
6 7 4 .6
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
[D o lla r s ]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
2006
Price per unit of real gross value added of nonfinancial corporate business 1.............
1.088
1.102
1.111
1.119
1.120
Compensation of employees (unit labor cost).................................................................
0.700
0.708
0.710
0.717
0.712
Unit nonlabor co s t..............................................................................................................
0.257
0.258
0.253
0.260
C o n s u m p t i o n o f f ix e d c a p i t a l ...................................................................................................................................................
0 .1 2 6
0 .1 2 4
0.120
0 .1 2 3
0.255
0.121
T a x e s o n p r o d u c tio n a n d im p o r ts le s s s u b s id i e s p lu s b u s in e s s c u r r e n t tr a n s f e r p a y m e n ts
0 .1 0 4
0 .1 0 6
0 .1 0 4
0 .1 0 7
0 .1 0 5
N e t i n t e r e s t a n d m i s c e l l a n e o u s p a y m e n t s ..................................................................................................................
0 .0 2 7
0 .0 2 8
0 .0 2 9
0 .0 3 0
0 .0 2 9
Corporate profits with IVA and CCAdj (unit profits from current production)................
0.131
0.136
0.147
0.143
0.153
T a x e s o n c o r p o r a t e i n c o m e ......................................................................................................................................................
0 .0 4 3
0 .0 4 5
0 .0 4 6
0 .0 4 7
0 .0 4 9
P r o f its a f t e r t a x w ith IVA a n d C C A d j ..................................................................................................................................
0 .0 8 8
0 .0 9 1
0.101
0 .0 9 6
0 .1 0 5
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
National Data
March 2007
2. Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
IV
Personal income.................................................................................................................................
C o m p e n s a t i o n o f e m p l o y e e s , r e c e i v e d .................................................................................................................................................
1
2
10,239.2
7 ,0 3 0 .3
10,884.0
7 ,4 7 6 .9
I
10,483.7
7 ,1 8 4 .4
II
10,721.4
7 ,4 0 0 .3
IV
III
10,807.3
7 ,4 2 5 .5
10,939.4
7 ,4 8 9 .3
11,067.9
7 ,5 9 2 .4
3
5 ,6 6 4 .8
6, 022.6
5 ,7 8 7 .0
5 ,9 7 0 .1
5 ,9 8 0 .9
6 ,0 2 7 .6
6, 111.8
P r i v a t e i n d u s t r i e s .....................
4
4 ,6 8 7 .1
5 ,0 0 8 .7
4 ,7 9 8 .9
4 ,9 7 2 .0
4 ,9 7 5 .0
5 ,0 0 7 .1
5 ,0 8 0 .9
G o v e r n m e n t ..................................
5
9 7 7 .7
1 ,0 1 3 .9
9 8 8 .1
9 9 8 .1
1 ,0 0 5 .9
1 ,0 2 0 .5
1 ,0 3 0 .9
1 ,3 6 5 .5
1 ,4 5 4 .3
1 ,3 9 7 .4
1 ,4 3 0 .3
1 ,4 4 4 .5
1 ,4 6 1 .6
1 ,4 8 0 .6
9 3 3 .2
9 9 2 .7
9 5 6 .1
9 7 1 .6
9 8 5 .7
1, 000.1
W a g e a n d s a l a r y d i s b u r s e m e n t s ...........................................................................................................................................................
S u p p l e m e n t s t o w a g e s a n d s a l a r i e s .................................................................................................................................................
6
E m p l o y e r c o n t r i b u t i o n s f o r e m p l o y e e p e n s i o n a n d i n s u r a n c e f u n d s ................................................................
7
E m p l o y e r 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 i a l i n s u r a n c e ...........................................................................................
8
4 3 2 .3
4 6 1 .5
4 4 1 .3
4 5 8 .7
4 5 8 .9
4 6 1 .5
4 6 7 .0
9
9 7 0 .7
1 ,0 1 5 .0
9 9 6 .8
1 ,0 0 8 .3
1 ,0 1 1 .9
1 ,0 1 4 .8
1 ,0 2 5 .1
2 8 .7
2 3 .9
1 7 .5
2 1 .7
2 7 .4
P r o p r i e t o r s ’ i n c o m e w ith in v e n t o r y v a l u a t i o n a n d c a p i t a l c o n s u m p t i o n a d j u s t m e n t s .......................................
R e n t a l i n c o m e o f p e r s o n s w ith c a p i t a l c o n s u m p t i o n a d j u s t m e n t ......................................................................................
10
11
12
P e r s o n a l i n c o m e r e c e i p t s o n a s s e t s .........................................................................................................................................................
13
F a r m ..............................................................................................................................................................................................................................
N o n f a r m ..................................................
P e r s o n a l in te r e s t in c o m e
14
P e r s o n a l d iv id e n d in c o m e
15
3 0 .2
22.6
1 ,0 1 3 .6
9 4 0 .4
9 9 2 .4
9 6 8 .1
9 8 4 .4
9 9 4 .3
9 9 3 .2
9 9 7 .8
7 2 .8
7 6 .7
8 1 .5
7 6 .8
7 1 .4
7 8 .3
8 0 .5
1 ,6 5 7 .6
1 ,5 8 0 .2
1 ,5 1 9 .4
9 4 5 .0
5 7 4 .4
1 ,6 0 2 .3
1 ,6 4 7 .7
1 ,6 8 3 .6
1 ,6 9 6 .9
1 ,0 1 8 .1
9 8 1 .7
9 8 9 .1
1 ,0 1 9 .2
1 ,0 3 5 .8
1 ,0 2 8 .1
6 3 9 .6
5 9 8 .5
6 1 3 .2
6 2 8 .5
6 4 7 .8
668.8
P e r s o n a l c u r r e n t t r a n s f e r r e c e i p t s ..............................................................................................................................................................
16
1 ,5 2 6 .6
1 ,6 0 2 .3
1 ,5 3 9 .8
1 ,5 7 0 .4
1 ,5 8 9 .7
1 ,6 1 8 .6
1 ,6 3 0 .2
G o v e r n m e n t s o c i a l b e n e f i t s t o p e r s o n s ...........................................................................................................................................
17
1 ,4 8 0 .9
1 ,5 6 7 .0
1 ,5 0 0 .8
1 ,5 3 6 .0
1 ,5 5 4 .7
1 ,5 8 3 .1
1 ,5 9 4 .2
18
8 4 4 .9
9 3 1 .4
8 5 4 .6
9 0 9 .9
9 2 8 .1
9 3 6 .7
9 5 0 .7
G o v e r n m e n t u n e m p l o y m e n t i n s u r a n c e b e n e f i t s .................................................................................................................
19
3 1 .3
2 7 .3
3 1 .6
2 7 .8
2 7 .0
2 7 .3
2 7 .1
V e t e r a n s b e n e f i t s ........................................................................................................................................................................................
O l d - a g e , s u r v i v o r s , d is a b ility , a n d h e a l t h i n s u r a n c e b e n e f i t s ...................................................................................
20
21
22
3 6 .8
4 0 .0
3 7 .2
3 9 .1
3 9 .8
4 0 .2
1 8 .3
1 8 .8
1 8 .5
1 8 .6
1 8 .8
1 8 .9
1 9 .0
5 4 9 .4
5 4 9 .5
5 5 8 .8
5 4 0 .6
5 4 1 .0
5 6 0 .0
5 5 6 .5
4 5 .7
3 5 .3
3 9 .0
3 4 .5
3 5 .0
3 5 .5
3 6 .0
F a m il y a s s i s t a n c e
1
O t h e r ......................................................................................................................................................................................................................
O t h e r c u r r e n t t r a n s f e r r e c e i p t s , f r o m b u s i n e s s ( n e t ) .............................................................................................................
23
L e s s : 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 i a l i n s u r a n c e .................................................................................................................
4 0 .8
24
8 8 0 .6
Less: Personal current taxes
25
1,203.1
1,360.9
1,247.6
Equals: Disposable personal income
26
9,036.1
9,523.1
9,236.1
9,388.8
9,446.2
9,577.0
9,680.5
Less: Personal outlays...............
27
9,070.9
9,625.2
9,264.5
9,418.5
9,577.0
9,710.0
9,795.3
28
8 ,7 4 2 .4
9 ,2 6 9 .0
8 ,9 2 7 .8
9 ,0 7 9 .2
9 ,2 2 8 .1
9 ,3 4 6 .7
9 ,4 2 2 .1
29
2 0 9 .4
2 2 9 .9
2 1 4 .9
2 1 8 .5
2 2 2 .9
2 3 5 .5
2 4 2 .7
30
1 1 9 .2
1 2 6 .3
121.8
1 2 0 .9
1 2 6 .0
1 2 7 .8
1 3 0 .5
T o g o v e r n m e n t ..................................
31
7 2 .0
7 8 .0
7 4 .2
7 5 .7
7 7 .3
7 9 .0
T o t h e r e s t o f t h e w o r l d ( n e t ) ....................................................................................................................................................................
32
4 7 .1
4 8 .3
4 7 .6
4 5 .2
4 8 .7
4 8 .8
5 0 .4
Equals: Personal saving....................................................................................................................
33
-34.8
-102.1
-28.5
-29.7
-130.8
-133.0
-114.8
Personal saving as a percentage of disposable personal income............................................
34
-0.4
-1.1
-0.3
-0.3
-1.4
-1.4
-1.2
P e r s o n a l c o n s u m p t i o n e x p e n d i t u r e s ........................................................................................................................................................
P e r s o n a l in te r e s t p a y m e n ts
2
P e r s o n a l c u r r e n t t r a n s f e r p a y m e n t s .........................................................................................................................................................
9 4 4 .5
8 9 8 .9
9 3 6 .7
1,332.6
9 3 8 .8
1,361.0
9 4 5 .2
1,362.5
9 5 7 .2
1,387.4
8 0 .0
Addenda:
D i s p o s a b l e p e r s o n a l in c o m e :
T o ta l, b ill io n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s 3......................................................................................................................................
35
8 ,1 0 4 .6
8 ,3 1 2 .9
8 ,1 8 3 .3
8 ,2 7 6 .8
8 ,2 4 5 .4
8 ,3 1 1 .0
C u r r e n t d o l l a r s ...............................................................................................................................................................................................
36
3 0 ,4 7 3
3 1 ,8 0 5
3 1 ,0 2 9
3 1 ,4 7 0
3 1 ,5 9 0
3 1 ,9 4 6
C h a i n e d ( 2 0 0 0 ) d o l l a r s ............................................................................................................................................................................
37
2 7 ,3 3 2
2 7 ,7 6 3
2 7 ,4 9 2
2 7 ,7 4 3
2 7 ,5 7 4
2 7 ,7 2 3
2 8 ,0 1 3
P o p u l a t i o n (m i d p e r i o d , t h o u s a n d s ) ...........................................................................................................................................................
38
2 9 6 ,5 2 4
2 9 9 ,4 2 4
2 9 7 ,6 6 0
2 9 8 ,3 3 8
2 9 9 ,0 2 5
2 9 9 ,7 8 9
3 0 0 ,5 4 3
8 ,4 1 9 .1
P e r c a p ita :
3 2 ,2 1 0
P e r c e n t c h a n g e f r o m p r e c e d i n g p e r io d :
Disposable personal income, current dollars.........................................................................
Disposable personal income, chained (2000) dollars.............................................................
4.1
1.2
39
40
5.4
2.6
8.6
5.5
6.8
4.6
2.5
-1.5
5.7
3.2
4.4
5.3
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
[B illio n s o f d o lla r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
Wage and salary disbursements...............................................................................................
Private industries.............
G o o d s - p r o d u c i n g i n d u s t r i e s .............................................................................................................................................................................
M a n u f a c t u r i n g ...................
S e r v i c e s - p r o d u c i n g i n d u s t r i e s .......................................................................................................................................................................
I
II
III
IV
1
2
5,664.8
6,022.6
5,787.0
5,970 1
5,980.9
6,027.6
6,111.8
4,687.1
5,008.7
4,798.9
4,972 0
4,975.0
5,007.1
5,080.9
3
1 ,1 0 1 .3
1 ,1 7 5 .5
1 ,1 2 4 .9
1 ,1 7 7 3
1 ,1 7 3 .0
1 ,1 7 1 .5
4
7 0 4 .7
7 3 4 .0
7 1 5 .0
7 3 2 .8
7 2 9 .1
7 3 1 .4
5
3 ,5 8 5 .8
3 ,8 3 3 .3
3 ,6 7 3 .9
3 ,8 0 2 .0
3 ,8 3 5 .6
3 ,9 0 0 .9
T r a d e , t r a n s p o r t a t i o n , a n d u t i l i t i e s .........................................................................................................................................................
6
O t h e r s e r v i c e s - p r o d u c i n g i n d u s t r i e s 1..............................................................................................................................................
7
Government........................................................................................................................................
2006
8
742
3 ,7 9 4 7
9 3 7 .2
9 9 3 .7
9 5 4 .9
983
2 ,6 4 8 .5
2 ,8 3 9 .6
2 ,7 1 9 .0
2 ,8 1 1
977.7
1,013.9
988.1
8
6
0
998 1
1 ,1 8 0 .1
9 9 0 .8
9 9 5 .6
1 ,0 0 4 .7
2 ,8 1 1 .2
2 ,8 4 0 .0
2 ,8 9 6 .1
1,005.9
1,020.5
1,030.9
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.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
March 2007
Survey
of
D-19
C u r r e n t B u s in e s s
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]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Personal consumption
expenditures..................
I
II
III
3.5
3
0.6
e q u i p m e n t ............................................
4
10.0
12.2
5
8 .7
5 .6
11.6
6.1
22.8
O t h e r .............................................................
6
4.5
3.7
3.9
5.9
1.4
F o o d ...............................................................
7
5 .4
4 .2
4 .1
6 .7
2.0
C l o t h i n g a n d s h o e s ............................
8
6.2
5 .3
1 0 .3
8.6
1.0
- 2 .3
M o to r v e h i c l e s a n d p a r t s ..............
3.2
5.5
-
2.8
4.2
0.8
4.8
2.6
5.0
-12.3
19.8
-0.1
6.4
1.2
- 3 4 .9
1 8 .9
-
1.2
8.6
- 4 .4
3 .3
6 .7
1 3 .3
e n e r g y g o o d s ....................................
9
- 0 .5
-
G a s o l i n e a n d o i l ..............................
10
11
12
0.0
- 6.2
- 0 .4
F u e l o il a n d c o a l ............................
4.4
1 6 .3
1.6
7 .2
1.5
6.0
- 3 .7
- 0 .7
6.6
- 3 .8
5 .5
6 .7
0 .7
5 .0
0.8
6 .9
1.0
- 0.6
-
8.0
-
- 1 .3
0.8
0.0
-
-2 0 .9
-1 7 .6
2 5 .1
4 .1
4 .3
3 .6
6 .4
3 .4
- 1 8 .4
2.0
2 5 .5
6 .9
13
2.6
2.6
2.0
1.6
3.7
2.8
3.2
H o u s i n g .......................................................
14
2 .3
1 .7
2 .3
2 .4
2.6
3 .2
H o u s e h o l d o p e r a t i o n ........................
15
2.8
2.1
2.6
1.8
0.1
-0 .4
0 .3
- 1 4 .0
8 .4
9 .7
3 .9
2.0
0.8
0.2
- 2 9 .7
1 5 .8
2 1 .9
Services.....................................
E le c tr ic ity a n d g a s ........................
16
O th e r h o u s e h o ld o p e ra tio n ...
1/
T r a n s p o r t a t i o n .........................................
18
- 2 .3
1.1
-
1 .4
-
-
8 .5
0.1
3 .4
1.6
0 .7
4 .0
1 .7
1 .3
3 .5
4 .3
2.6
0.8
6.1
2.1
3 .1
3 .0
2.6
1.6
3 .4
M e d ic a l c a r e ............................................
19
3 .6
3 .5
3 .7
R e c r e a t i o n ................................................
20
21
2 .7
2.1
1 .5
3 .1
2.0
3 .4
1 .7
3 .2
O t h e r .............................................................
Addenda:
E n e r g y g o o d s a n d s e r v i c e s 1 ...
22
0.8
- 1 .7
- 0 .7
6.2
- 1 3 .8
1 0 .9
3 .9
P e r s o n a l c o n s u m p tio n
Personal consumption
expenditures..................
I
II
IV
III
23
3 .3
3 .4
6.0
0 .3
2.8
2 .4
3 .8
1
3.5
2
0.65
3
0 .0 3
3.2
0.8
4.8
0.58
2.6
2.8
4.2
Percentage points at annual
rates:
Durable goods............................
M o to r v e h i c l e s a n d p a r t s ................
-1.54
2.14
-0.01
0.72
-0 .0 6
-2 .1 5
0 .8 5
- 0 .0 6
0 .4 0
0 .9 2
0 .1 4
0 .2 8
0 .5 5
- 0 .0 9
0 .0 4
0 .1 7
0.50
-
0.21
F u r n itu re a n d h o u s e h o ld
e q u i p m e n t ............................................
4
0 .4 2
0 .5 1
0 .4 7
O t h e r ..............................................................
5
0.20
0 .1 3
0 .1 4
0 .3 7
6
1.28
1.09
1.12
1.71
F o o d ................................................................
7
0 .7 3
0 .5 8
0 .5 5
0 .9 2
0 .2 7
C l o t h i n g a n d s h o e s ............................
8
0 .2 4
0.20
0 .3 8
0 .3 3
- 0 .1 5
- 0 .0 9
- 0 .0 5
Nondurable goods.....................
0.42
-
0.46
1.73
0.10
0.21
0 .2 6
0 .9 0
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ....................................
9
G a s o l i n e a n d o i l ..............................
10
11
12
F u e l o il a n d c o a l ..............................
0.02
0.00
- 0.02
-
- 0 .0 3
0.01
- 0 .0 3
- 0.02
- 0 .0 6
-
0.00
-0 .0 5
0 .0 3
0 .0 4
0 .1 9
- 0 .0 3
0 .2 5
0 .0 5
- 0 .0 5
0.02
0 .0 6
0 .5 4
0 .5 1
0 .2 7
13
1.55
1.52
1.18
0.96
2.17
1.64
1.94
H o u s i n g ........................................................
14
0 .4 3
0 .3 5
0 .2 5
0 .3 4
0 .3 6
0 .3 8
0 .4 8
H o u s e h o l d o p e r a t i o n .........................
15
0.12
- 0 .0 3
0.02
- 0 .8 4
0 .4 4
0 .5 1
0.22
- 0 .8 3
O t h e r ..............................................................
E le c tr ic ity a n d g a s .......................
0 .3 3
0 .3 4
0 .2 8
0 .1 5
-
Services.....................................
0 .3 4
0 .4 6
0 .1 9
0.00
0.11
0 .0 5
0.02
0.01
0 .1 5
0 .0 6
0 .0 5
0 .1 3
0 .5 9
0 .6 2
0 .7 4
0 .4 4
0 .3 6
0 .5 3
0.11
0 .0 9
0 .0 6
0 .1 3
0 .0 3
0.11
0 .2 8
0 .4 7
0 .2 3
0 .4 5
0 .8 3
0.12
0.22
22
0 .0 4
- 0 .0 9
-0 .0 4
0.88
0 .3 6
0 .6 5
0 .2 3
23
2 .7 1
2 .7 0
0 .2 5
4 .7 7
1 .9 5
2 .2 7
3 .0 4
16
0 .0 6
- 0 .0 6
0 .0 5
O t h e r h o u s e h o l d o p e r a t i o n ...
17
0 .0 6
0 .0 4
-0 .0 3
T r a n s p o r t a t i o n .........................................
18
0.01
0 .0 5
-
M e d ic a l c a r e ............................................
19
0 .6 1
R e c r e a t i o n ................................................
20
21
O t h e r ..............................................................
e x p e n d itu r e s e x c lu d in g fo o d
a n d e n e r g y . .........................................
2006
2005
IV
G a s o l i n e , f u e l o il, a n d o t h e r
O t h e r .............................................................
2006
IV
F u r n itu re a n d h o u s e h o ld
Nondurable goods.....................
2005
Percent change at annual rate:
1
2
Durable goods...........................
L in e
2006
0 .4 8
Addenda:
E n e r g y g o o d s a n d s e r v i c e s 1 ....
-
P e r s o n a l c o n s u m p tio n
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
e x p e n d itu r e s e x c lu d in g fo o d
a n d e n e r g y ..........................................
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
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
S e a s o n a ll y a d ju s te d
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
2006
IV
Personal consumption
expenditures..................
Durable goods...........................
I
II
L in e
III
1 116.349 120.057 117.373 118.761 119.521 120.355 121.590
2 132.666 139.328 131.799 137.893 137.868 140.019 141.530
3
1 1 7 .1 7 3
1 1 5 .7 5 3
1 1 0 .2 8 6
1 1 5 .1 5 8
1 1 4 .7 9 9
1 1 7 .1 7 9
1 1 5 .8 7 7
e q u i p m e n t ............................................
4
1 5 6 .7 9 0
1 7 5 .9 5 7
1 6 3 .4 7 2
1 7 2 .0 9 7
1 7 3 .4 9 6
1 7 6 .3 2 4
1 8 1 .9 1 1
O t h e r .............................................................
5
1 2 9 .6 9 6
1 3 6 .9 3 9
1 3 1 .9 5 8
1 3 7 .0 3 9
1 3 5 .7 5 4
1 3 6 .2 9 2
1 3 8 .6 7 2
M o to r v e h i c l e s a n d p a r t s ..............
2006
Personal consumption
expenditures..................
Durable goods...........................
M o to r v e h i c l e s a n d p a r t s ................
1 111.493 114.563
90.198
88.981
2
2006
2005
IV
I
II
III
IV
112.873
89.606
113.445
89.385
114.573
89.206
115.241
88.967
114.991
88.366
3
9 8 .9 6 7
9 9 .4 0 0
9 8 .9 0 6
9 9 .4 6 0
9 9 .5 3 2
9 9 .6 3 1
9 8 .9 8 0
4
7 6 .8 8 4
7 3 .4 6 6
7 5 .4 3 5
7 4 .6 7 1
7 3 .8 9 4
7 3 .0 4 6
7 2 .2 5 2
5
9 7 .6 8 8
9 8 .4 6 4
9 8 .0 0 5
9 7 .5 6 7
9 8 .3 5 1
9 8 .9 5 0
9 8 .9 8 7
F u r n itu re a n d h o u s e h o ld
F u r n itu re a n d h o u s e h o ld
Nondurable goods.....................
2005
IV
6 116.924 121.308 118.608 120.313 120.742 121.204 122.974
e q u i p m e n t ............................................
O t h e r ..............................................................
Nondurable goods.....................
6 111.530 114.959 113.177 113.484 115.769 116.442 114.141
F o o d ..............................................................
7
1 1 5 .1 9 1
1 2 0 .0 7 5
1 1 7 .3 4 9
1 1 9 .2 6 5
1 1 9 .8 5 3
1 1 9 .6 3 1
1 2 1 .5 5 2
F o o d ................................................................
7
1 1 2 .7 3 2
1 1 5 .3 3 3
1 1 3 .6 4 2
1 1 4 .4 1 4
1 1 4 .9 0 5
1 1 5 .7 2 7
C l o th in g a n d s h o e s ............................
8
1 2 5 .1 9 5
1 3 1 .8 5 0
1 2 8 .6 8 6
1 3 1 .3 6 7
1 3 0 .1 1 3
1 3 1 .8 7 6
1 3 4 .0 4 5
C l o th in g a n d s h o e s ............................
8
9 1 .7 0 6
9 1 .3 5 0
9 1 .1 0 1
9 0 .8 7 0
9 1 .6 5 1
9 1 .3 4 2
1 1 6 .2 8 4
9 1 .5 3 6
1 8 2 .6 3 2
1 8 5 .6 2 1
1 5 4 .5 8 8
1 8 2 .6 2 0
1 8 5 .3 5 2
1 5 2 .9 6 2
1 8 0 .7 8 3
1 8 7 .4 9 5
1 7 6 .7 4 8
G a s o l i n e , f u e l o il, a n d o t h e r
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ....................................
9
1 0 4 .2 0 4
1 0 3 .1 8 4
1 0 2 .6 7 9
1 0 2 .3 4 8
1 0 2 .5 3 2
1 0 3 .7 9 5
1 0 4 .0 6 1
e n e r g y g o o d s ....................................
9
1 5 1 .4 2 3
1 7 0 .9 9 2
1 6 3 .6 1 2
G a s o l i n e a n d o il..............................
10
11
12
1 0 5 .8 2 4
1 0 5 .3 6 9
1 0 4 .6 8 3
1 0 4 .6 9 6
1 0 4 .4 8 1
1 0 6 .2 2 7
1 0 6 .0 7 4
G a s o l i n e a n d o i l ..............................
1 5 0 .7 6 0
1 7 0 .2 9 7
1 6 2 .4 7 0
8 6 .7 6 2
7 9 .7 8 8
8 1 .1 6 7
7 7 .3 3 8
8 1 .7 9 5
7 7 .7 3 8
8 2 .2 8 3
F u e l o il a n d c o a l ..............................
1 5 9 .4 6 5
1 7 9 .2 6 4
1 7 8 .4 4 0
1 7 2 .0 3 1
1 2 0 .8 3 8
1 2 5 .9 7 5
1 2 2 .4 3 2
1 2 4 .3 5 6
1 2 5 .4 0 9
1 2 6 .0 1 6
1 2 8 .1 2 1
10
11
12
1 6 1 .1 2 6
1 6 0 .2 5 4
1 0 7 .7 7 5
1 0 9 .7 8 6
1 0 8 .6 1 9
1 0 9 .3 0 1
1 0 9 .7 3 7
1 1 0 .0 4 1
1 1 0 .0 6 4
Services.....................................
13
112.925
115.810
113.945
114.398
115.440
116.234
117.167
Services.....................................
13
116.529
120.521
118.281
119.194
120.059
120.960
121.869
H o u s i n g ......................................................
14
1 1 1 .5 4 0
1 1 4 .1 2 9
1 1 2 .3 9 4
1 1 3 .0 3 5
1 1 3 .7 1 3
1 1 4 .4 3 6
1 1 5 .3 3 2
H o u s i n g ........................................................
14
1 1 6 .1 6 5
1 2 0 .3 2 7
1 1 7 .2 7 9
1 1 8 .2 6 9
1 1 9 .7 1 7
1 2 1 .0 5 5
1 2 2 .2 6 8
1 0 3 .6 2 8
F u e l o il a n d c o a l ............................
O t h e r .............................................................
O t h e r ..............................................................
15
1 0 7 .1 4 5
1 0 6 .7 0 4
1 0 7 .5 9 8
1 0 5 .7 3 5
1 0 8 .2 0 3
1 0 9 .2 4 9
H o u s e h o l d o p e r a t i o n .........................
15
1 1 5 .5 5 4
1 2 1 .6 9 0
1 2 0 .5 7 9
1 2 2 .4 0 3
1 2 1 .0 1 9
1 2 1 .3 8 3
1 2 1 .9 5 6
E le c tr ic ity a n d g a s ........................
16
1 0 7 .3 1 7
1 0 4 .8 0 2
1 0 7 .9 6 3
9 8 .8 7 5
1 0 2 .5 6 6
1 0 7 .7 7 0
1 0 9 .9 9 9
E le c tr ic ity a n d g a s .......................
16
1 2 9 .9 0 0
1 4 1 .7 1 8
1 4 2 .1 6 9
1 4 5 .5 8 2
1 4 0 .7 9 9
1 4 0 .3 1 8
1 4 0 .1 7 3
O th e r h o u s e h o ld o p e ra tio n ...
17
1 0 7 .0 1 6
1 0 8 .2 2 9
1 0 7 .3 2 0
1 0 7 .2 8 9
1 0 8 .1 9 0
1 0 8 .6 2 9
1 0 8 .8 0 7
O t h e r h o u s e h o l d o p e r a t i o n ...
17
1 0 7 .2 3 3
1 0 9 .9 9 6
1 0 8 .0 4 7
1 0 8 .9 7 7
1 0 9 .4 4 7
1 1 0 .2 8 5
T r a n s p o r t a t i o n .........................................
18
9 7 .6 5 2
9 8 .9 8 9
9 7 .3 3 0
9 8 .2 9 8
9 8 .7 2 2
9 9 .0 4 4
9 9 .8 9 1
T r a n s p o r t a t i o n ........................................
18
1 1 2 .6 6 3
1 1 6 .8 9 5
1 1 4 .9 7 0
1 1 5 .4 1 1
1 1 6 .8 2 6
1 1 7 .6 7 5
1 1 7 .6 7 0
H o u s e h o l d o p e r a t i o n .......................
1 1 1 .2 7 6
M e d i c a l c a r e ............................................
19
1 2 2 .7 9 9
1 2 7 .0 5 8
1 2 4 .5 6 3
1 2 5 .8 8 7
1 2 6 .6 9 0
1 2 7 .3 4 7
1 2 8 .3 1 0
M e d ic a l c a r e ............................................
19
1 1 8 .4 3 8
1 2 1 .7 5 3
1 1 9 .9 4 9
1 2 0 .4 8 2
1 2 1 .3 3 2
1 2 2 .1 8 0
1 2 3 .0 1 9
R e c r e a t i o n ................................................
20
21
1 1 6 .7 2 7
1 1 9 .1 4 5
1 1 7 .4 4 5
1 1 8 .3 3 6
1 1 8 .5 8 1
1 1 9 .4 4 8
1 2 0 .2 1 5
R e c r e a t i o n ................................................
1 1 8 .6 4 1
1 1 6 .7 0 2
1 1 7 .3 1 1
1 1 8 .5 8 2
1 1 9 .4 2 5
1 1 9 .2 4 4
1 1 3 .2 2 6
1 1 0 .6 3 4
1 1 1 .5 2 1
1 1 3 .1 7 5
1 1 3 .6 2 2
1 1 4 .5 8 6
O t h e r ..............................................................
20
21
1 1 5 .1 6 8
1 0 9 .5 4 0
1 1 6 .6 2 5
1 2 0 .4 6 9
1 1 7 .9 5 9
1 1 9 .1 1 6
1 1 9 .9 7 0
1 2 0 .7 1 1
1 2 2 .0 8 0
22
1 4 2 .1 4 1
1 5 8 .6 0 6
1 5 4 .4 2 0
1 5 4 .4 6 7
1 6 4 .8 3 6
1 6 6 .3 2 7
1 4 8 .7 9 3
23
1 0 9 .5 5 9
1 1 1 .9 8 2
1 1 0 .4 1 8
1 1 0 .9 8 3
1 1 1 .7 3 8
1 1 2 .3 3 7
112.868
O t h e r .............................................................
Addenda:
Addenda:
E n e r g y g o o d s a n d s e r v i c e s 1 ...
22
1 0 5 .4 7 3
1 0 3 .7 1 6
1 0 4 .7 8 6
1 0 0 .9 6 7
1 0 2 .4 9 8
1 0 5 .1 9 2
1 0 6 .2 0 6
e x p e n d itu r e s e x c lu d in g fo o d
e x p e n d itu r e s e x c lu d in g fo o d
a n d e n e r g y ..........................................
E n e r g y g o o d s a n d s e r v i c e s 1 ....
P e r s o n a l c o n s u m p tio n
P e r s o n a l c o n s u m p tio n
23
1 1 7 .2 5 5
121.201
1 1 8 .2 1 6
1 1 9 .9 5 3
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
1 2 0 .6 7 4
1 2 1 .5 2 1
1 2 2 .6 5 3
a n d e n e r g y ..........................................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
D-20
March 2007
National Data
Table 2.3.5. Personal Consumption Expenditures by Major
Type of Product
Table 2.3.6. Real Personal Consumption Expenditures by Major
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
I
IV
Personal consumption
expenditures..................
Durable goods...........................
M o to r v e h i c l e s a n d p a r t s ..............
1 8,742.4
2 1,033.1
3
4 4 8 .2
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2006
II
III
8,927.8
9,079.2
9,228.1
9,346.7
9,422.1
1,070.3
1,019.6
1,064.1
1,061.8
1,075.5
1,079.8
4 2 1 .6
4 4 2 .7
4 4 1 .7
4 5 1 .3
4 4 3 .3
F u rn itu re a n d h o u s e h o ld
2005
IV
Personal consumption
expenditures..................
Durable goods............................
1
2
I
II
III
IV
7,841.2
8,091.1
7,910.2
8,003.8
8,055.0
8,111.2
8,194.4
1,145.3
1,202.9
1,137.9
1,190.5
1,190.3
1,208.8
1,221.9
3
4 5 2 .9
4 4 7 .4
4 2 6 .3
e q u i p m e n t ............................................
4
4 9 0 .6
5 5 0 .6
5 1 1 .5
O t h e r ...............................................................
5
M o to r v e h i c l e s a n d p a r t s ..............
2006
4 4 5 .1
4 4 3 .7
4 5 2 .9
4 4 7 .9
5 3 8 .5
5 4 2 .9
5 5 1 .7
5 6 9 .2
F u rn itu re a n d h o u s e h o ld
e q u i p m e n t ............................................
4
O t h e r .............................................................
5
3 7 7 .2
4 0 4 .6
3 8 6 .0
4 0 2 .3
4 0 1 .3
4 0 3 .2
221.0
212.0
2,539.3
2,715.0
2,613.5
2,658.2
2,721.4
2,747.7
2,732.7
F o o d ..............................................................
7
1 ,2 0 1 .4
1 ,2 8 1 .2
1 ,2 3 3 .7
1 ,2 6 2 .3
1 ,2 7 4 .0
1 ,2 8 0 .7
1 ,3 0 7 .6
C l o th in g a n d s h o e s ............................
8
3 4 1 .8
3 5 8 .6
3 4 9 .1
3 5 5 .4
3 5 5 .1
3 5 8 .7
3 6 5 .3
2 0 7 .7
2 1 9 .1
2 1 8 .8
221.0
4 1 1 .5
6
Nondurable goods.....................
2006
IV
9,269.0
4 4 4 .7
2005
2 2 5 .0
G a s o l i n e , f u e l o il, a n d o t h e r
212.6
2 2 4 .4
2 2 2 .5
2 2 3 .4
6
2,276.8
2,362.1
2,309.6
2,342.8
2,351.1
2,360.1
2,394.6
F o o d ................................................................
7
1 ,0 6 5 .7
1 ,1 1 0 .9
1 ,0 8 5 .7
1 ,1 0 3 .4
1 ,1 0 8 .8
1 ,1 0 6 .8
1 ,1 2 4 .6
C l o th in g a n d s h o e s ............................
8
3 7 2 .7
3 9 2 .5
3 8 3 .1
3 9 1 .1
3 8 7 .4
3 9 2 .6
3 9 9 .1
Nondurable goods.....................
2 1 6 .3
2 2 4 .6
2 2 7 .3
G a s o l i n e , f u e l o il, a n d o t h e r
e n e r g y g o o d s ....................................
9
3 0 2 .1
3 3 8 .3
3 2 2 .1
3 1 6 .2
3 5 9 .1
3 6 9 .4
3 0 8 .5
e n e r g y g o o d s ....................................
9
1 9 9 .5
1 9 7 .6
1 9 6 .6
1 9 6 .0
1 9 6 .3
1 9 8 .7
1 9 9 .3
G a s o l i n e a n d o il..............................
10
11
12
2 8 0 .2
3 1 5 .6
2 9 9 .1
2 9 5 .1
3 3 5 .6
3 4 6 .3
2 8 5 .4
G a s o l i n e a n d o i l ..............................
1 8 5 .1
1 8 3 .9
1 8 3 .9
1 8 3 .5
1 8 6 .6
1 8 6 .3
2 2 .7
2 3 .0
21.1
2 3 .5
2 3 .2
2 3 .1
F u e l o il a n d c o a l ............................
1 2 .9
1 2 .3
1 3 .0
6 9 4 .0
7 3 6 .9
7 0 8 .6
7 2 4 .2
7 3 3 .3
7 3 8 .9
7 5 1 .4
O t h e r ...............................................................
10
11
12
1 8 5 .9
2 1 .9
6 6 8 .3
6 7 1 .5
6 8 2 .7
F u e l o il a n d c o a l ............................
O t h e r .............................................................
1 3 .7
6 4 3 .9
12.6
6 7 1 .3
12.8
6 5 2 .4
12.2
6 6 2 .6
13
5,170.0
5,483.7
5,294.7
5,356.8
5,444.9
5,523.5
5,609.6
Services.....................................
13
4,436.6
4,550.0
4,476.7
4,494.5
4,535.4
4,566.6
4,603.3
H o u s i n g .......................................................
14
1 ,3 0 4 .1
1 ,3 8 2 .2
1 ,3 2 6 .6
1 ,3 4 5 .4
1 ,3 7 0 .1
1 ,3 9 4 .2
1 ,4 1 9 .2
H o u s i n g ........................................................
14
1. 122.6
1 ,1 4 8 .7
1 ,1 3 1 .2
1 ,1 3 7 .6
1 ,1 4 4 .5
1 ,1 5 1 .7
1 ,1 6 0 .8
H o u s e h o l d o p e r a t i o n ........................
15
4 8 3 .0
5 0 6 .5
5 0 6 .1
4 9 4 .8
4 9 9 .1
5 1 2 .3
5 1 9 .7
H o u s e h o l d o p e r a t i o n .........................
15
4 1 8 .0
4 1 6 .3
4 1 9 .8
4 0 4 .3
4 1 2 .5
4 2 2 .1
4 2 6 .2
E le c tr ic ity a n d g a s ........................
16
1 9 9 .8
2 1 2 .7
2 1 9 .9
2 0 6 .2
2 0 6 .9
2 1 6 .6
2 2 0 .9
E le c tr ic ity a n d g a s ........................
16
1 5 3 .8
1 5 0 .2
1 5 4 .7
1 4 1 .7
1 4 7 .0
1 5 4 .4
1 5 7 .6
O th e r h o u s e h o ld o p e ra tio n ...
17
2 8 3 .2
2 9 3 .8
2 8 6 .2
2 8 8 .6
2 9 2 .2
2 9 5 .7
2 9 8 .8
O t h e r h o u s e h o l d o p e r a t i o n ...
17
2 6 4 .1
2 6 7 .1
2 6 4 .9
2 6 4 .8
2 6 7 .0
2 6 8 .1
2 6 8 .5
T r a n s p o r t a t i o n .........................................
18
3 2 0 .4
3 3 7 .1
3 2 5 .9
3 3 0 .4
3 3 5 .9
3 3 9 .5
3 4 2 .4
T r a n s p o r t a t i o n .........................................
18
2 8 4 .4
2 8 8 .3
2 8 3 .5
2 8 6 .3
2 8 7 .5
2 8 8 .5
2 9 0 .9
1 ,5 8 8 .4
1 ,5 3 4 .0
1 ,5 5 7 .2
1 ,5 7 8 .2
1 ,5 9 7 .5
1 ,6 2 0 .6
1 ,3 0 4 .7
1 ,2 7 9 .0
1 ,2 9 2 .6
1 ,3 0 0 .9
Services.....................................
M e d ic a l c a r e ............................................
19
1 ,4 9 3 .4
M e d ic a l c a r e ............................................
19
1 .2 6 0 .9
R e c r e a t i o n .................................................
20
21
3 6 0 .6
3 7 9 .2
3 6 7 .7
3 7 2 .4
3 7 7 .2
3 8 2 .7
3 8 4 .5
R e c r e a t i o n ................................................
3 1 9 .6
3 1 5 .1
3 1 7 .5
3 1 8 .1
3 2 0 .4
3 2 2 .5
1 ,2 9 0 .3
1 ,2 3 4 .4
1 ,2 5 6 .5
1 ,2 8 4 .3
1 ,2 9 7 .3
1 ,3 2 3 .2
O t h e r ..............................................................
20
21
22
3 1 3 .1
1 ,2 0 8 .4
1 .0 3 6 .2
1 ,0 7 1 .1
1 ,0 4 6 .5
1 ,0 5 4 .9
1 ,0 7 0 .6
1 ,0 7 4 .8
1 ,0 8 3 .9
22
5 0 1 .9
5 5 1 .0
5 4 2 .0
5 2 2 .4
5 6 6 .0
5 8 6 .1
5 2 9 .4
O t h e r .............................................................
R e s i d u a l .............................................................
Addenda:
E n e r g y g o o d s a n d s e r v i c e s 1 ...
P e r s o n a l c o n s u m p tio n
1 ,3 1 7 .5
- 3 1 .9
- 5 3 .4
- 3 6 .7
- 5 3 .0
- 5 0 .6
- 5 2 .1
- 5 7 .4
23
3 5 3 .1
3 4 7 .2
3 5 0 .8
3 3 8 .0
3 4 3 .1
3 5 2 .2
3 5 5 .6
24
6 ,4 2 4 .9
6 ,6 4 1 .1
6 ,4 7 7 .6
6 ,5 7 2 .7
6 ,6 1 2 .3
6 ,6 5 8 .7
6 ,7 2 0 .7
Addenda:
E n e r g y g o o d s a n d s e r v i c e s 1....
P e r s o n a l c o n s u m p tio n
e x p e n d itu r e s e x c lu d in g fo o d
a n d e n e r g y .........................................
1 ,3 0 7 .6
23
7 ,0 3 9 .1
7 ,4 3 6 .9
7 ,1 5 2 .1
7 ,2 9 4 .4
7 ,3 8 8 .1
7 ,4 7 9 .9
7 ,5 8 5 .2
e x p e n d itu r e s e x c lu d in g fo o d
a n d e n e r g y ..........................................
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.
March 2007
D-21
S u r v e y o f C u r r e n t B u s in e s s
3. Government Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[B i llio n s o f d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
IV
1
3,586.3
2006
2005
I
II
III
IV
3,712.5
3,895.1
3,961.6
3,990.3
?
2 ,5 2 0 .7
2 ,6 0 4 .8
2 ,7 3 6 .2
2 ,7 9 6 .5
2 ,8 1 5 .1
P e r s o n a l c u r r e n t t a x e s .............................................................................................................
3
1 ,2 0 3 .1
1 ,3 6 0 .9
1 ,2 4 7 .6
1 ,3 3 2 .6
1 ,3 6 1 .0
1 ,3 6 2 .5
1 ,3 8 7 .4
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 ...................................................................................
4
9 2 2 .4
9 6 4 .8
9 3 7 .3
9 5 2 .5
9 6 6 .4
9 6 8 .6
9 7 1 .7
4 0 8 .4
4 4 0 .7
4 5 8 .2
4 7 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 ......................................................................................
6
1 1 .4
1 0 .4
1 0 .9
1 1 .3
9 3 6 .7
9 3 8 .8
9 4 5 .2
9 5 7 .2
100.0
101.6
1 0 3 .3
1 0 5 .2
1 0 0 .7
102.6
2.6
3 8 4 .4
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 i a l i n s u r a n c e ..........................................................
7
In c o m e re c e ip ts o n a s s e t s
8
I n te r e s t a n d m is c e lla n e o u s r e c e ip ts
10.8
11.2
8 8 0 .6
9 4 4 .5
8 9 8 .9
9 8 .3
1 0 2 .5
9 8 .5
9
9 5 .8
102.1
F r o m b u s i n e s s ( n e t ) ......
10
11
12
F r o m p e r s o n s .....................
13
7 2 .0
7 8 .0
7 4 .2
7 5 .7
7 7 .3
14
- 1 5 .4
- 9 .9
- 1 3 .3
- 9 .2
- 9 .4
D i v i d e n d s ...............................
C u r r e n t tr a n s fe r r e c e ip t s ..
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 i s e s ..................................................................
Current expenditures
15
9 9 .9
2.6
2 .4
3 0 .1
9 6 .1
9 7 .5
9 9 .0
2.6
2.6
2 .5
2 .5
1 3 5 .1
1 2 3 .6
1 3 1 .4
1 3 4 .1
1 3 6 .9
5 7 .1
4 9 .4
5 5 .6
5 6 .7
5 7 .9
7 9 .0
-
10.2
12.2
1 3 8 .1
5 8 .1
8 0 .0
- 1 0 .9
3,898.8
4,119.2
3,993.3
4,029.3
4,098.6
4,173.5
4,175.3
2 ,1 0 9 .1
2 ,1 3 2 .0
1 ,9 7 5 .7
2 ,0 9 6 .0
2 ,0 1 4 .5
2 ,0 5 9 .7
2 ,0 8 3 .0
C u r r e n t t r a n s f e r p a y m e n t s ..........................................................................................................
17
1 ,5 1 7 .8
1 ,5 9 3 .2
1 ,5 4 2 .8
1 ,5 6 1 .2
1 ,5 8 1 .2
1 ,6 1 0 .2
G o v e r n m e n t s o c i a l b e n e f i t s .................................................................................................
18
1 ,4 8 4 .0
1 ,5 7 0 .2
1 ,5 0 4 .0
1 ,5 3 9 .2
1 ,5 5 8 .0
1 ,5 8 6 .2
1 ,5 9 7 .3
T o p e r s o n s ...................................................................................................................................
19
1 ,4 8 0 .9
1 ,5 6 7 .0
1 ,5 0 0 .8
1 ,5 3 6 .0
1 ,5 5 4 .7
1 ,5 8 3 .1
1 ,5 9 4 .2
T o t h e r e s t o f t h e w o r l d .....................................................................................................
20
21
22
3 .1
3 .2
3 .2
3 3 .9
2 3 .0
3 8 .9
3 4 8 .0
3 7 7 .5
C o n s u m p tio n e x p e n d itu re s
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 t o t h e r e s t o f t h e w o r l d ( n e t ) ................
16
3 .2
22.0
3 .3
3 .1
3 .1
2 3 .2
2 4 .0
2 2 .9
3 7 2 .1
3 7 2 .9
3 5 3 .3
3 8 2 .0
4 0 2 .4
?3
2 3 4 .4
2 4 7 .6
2 1 8 .5
2 3 6 .9
2 5 3 .8
T o t h e r e s t o f t h e w o r l d ............................................................................................................
?4
1 1 3 .6
1 2 5 .3
1 3 4 .8
1 4 5 .1
1 4 8 .6
S u b s i d i e s ...................................................................................................................................................
25
L e s s : W a g e a c c r u a l s l e s s d i s b u r s e m e n t s .....................................................................
26
I n t e r e s t p a y m e n t s ..............................................................................................................................
Net government saving.............................................................
S o c i a l i n s u r a n c e f u n d s ..................................................................................................................
71
5 7 .3
5 2 .5
0.0
0.0
-312.5
28
6 5 .4
?9
- 3 7 7 .9
5 1 .4
6 3 .1
5 5 .1
1 ,6 2 0 .3
5 2 .3
5 1 .8
0.0
0.0
0.0
0.0
-280.8
-134.3
-136.9
-183.3
7 5 .3
6 2 .3
4 8 .4
4 7 .6
- 3 5 6 .0
- 1 9 6 .6
- 1 8 5 .3
- 2 3 0 .8
3,744.0
3,928.8
3,994.1
4,021.4
3 ,7 1 2 .5
3 ,8 9 5 .1
3 ,9 6 1 .6
3 ,9 9 0 .3
3 1 .4
3 3 .7
3 2 .5
5 1 .0
0.0
4 7 .2
Addenda:
30
3,616.5
C u r r e n t r e c e i p t s .......................................................................................................................
31
3 ,5 8 6 .3
C a p i t a l t r a n s f e r r e c e i p t s ....................................................................................................
32
3 0 .2
Total expenditures.........................................................................
33
4,072.8
4,301.9
4,175.5
4,223.6
4,294.4
4,368.8
4,320.7
C u r r e n t e x p e n d i t u r e s ..........................................................................................................
34
3 ,8 9 8 .8
4 ,1 1 9 .2
3 ,9 9 3 .3
4 ,0 2 9 .3
4 ,0 9 8 .6
4 ,1 7 3 .5
4 ,1 7 5 .3
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 ....................................................................................
35
3 9 7 .1
4 3 1 .2
4 0 9 .1
4 1 9 .9
4 3 0 .9
4 3 3 .0
4 4 1 .1
C a p i t a l t r a n s f e r p a y m e n t s ...............................................................................................
36
1 8 .3
1 8 .3
1 6 .1
2 1 .3
1 8 .1
1 6 .8
1 6 .9
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 t s ................................................................
37
1 0 .9
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 .........................................................................
38
2 5 2 .2
39
-456.3
3 2 .3
-
1.1
2 6 5 .7
11.8
12.2
3 1 .1
3 1 .6
9 .8
1 3 .1
- 3 9 .7
2 5 5 .0
2 5 9 .1
2 6 2 .9
2 6 7 .6
2 7 3 .0
-431.5
-294.8
-300.3
-347.4
D-22
National Data
March 2007
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]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
I
IV
Current receipts......................
C u r r e n t t a x r e c e i p t s .........................................
1 2,246.8
7
II
L in e
III
2,490.9
2,523.2
2,557.2
1 ,5 2 4 .9
1 ,5 5 3 .2
1 ,5 7 9 .2
1 ,0 3 9 .2
1 ,0 4 9 .9
1 ,0 6 4 .7
1 ,0 8 5 .5
101.6
101.1
1 0 3 .0
1 0 1 .3
7 4 .2
7 5 .9
7 5 .4
7 5 .9
2 6 .7
2 5 .7
2 5 .7
3 4 7 .1
3 7 4 .3
9 2 7 .9
1 ,0 5 9 .8
T a x e s o n p r o d u c tio n a n d im p o r ts ...
4
101.1
1 0 0 .9
E x c i s e t a x e s ..............................................
C u s t o m s d u t i e s .......................................
5
7 5 .8
6
2 5 .3
T a x e s o n c o r p o r a t e i n c o m e ................
3 2 6 .4
F e d e r a l R e s e r v e b a n k s ...................
7
R
q
3 0 4 .9
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 ....
10
2 1 .5
11.2
Current receipts......................
i n s u r a n c e ............................................................
1 1,700.6
1,798.7
1 2 4 3 .3
1 235 9
2 9 3 .4
3 1 1 .1
2 9 7 .8
2 7 5 .7
2 5 4 .3
2 6 8 .3
2 8 5 .6
2 7 2 .4
2 5 .4
2 5 .0
2 5 .1
2 5 .5
2 5 .4
2 5 .6
8 2 1 .2
8 6 3 .9
8 3 5 .7
8 5 1 .4
8 6 3 .3
8 6 7 .2
8 7 3 .6
7
3 9 4 .1
4 1 3 .4
3 9 7 .2
4 0 7 .9
4 1 3 .2
4 1 5 .0
4 1 7 .6
8
3 5 0 .4
3 6 9 .3
3 5 8 .1
7 6 .7
8 1 .2
9 8 .2
I n c o m e t a x e s ............................................
4
2 5 0 .9
7 3 .9
7 1 .6
O t h e r ................................................................
5
2 4 .4
2 7 .1
2 7 .4
2 6 .5
T a x e s o n p r o d u c tio n a n d im p o r ts ...
6
3 8 9 .4
4 0 1 .8
2 5 .0
2 7 .3
2 9 .0
3 4 9 .3
3 6 2 .1
3 7 2 .8
1 0 .4
1 0 .9
1 1 .3
P r o p e r t y t a x e s .........................................
O t h e r ................................................................
12.2
T a x e s o n c o r p o r a t e i n c o m e ..................
9
m
5 8 .0
11
12
2 5 .3
7 5 .3
11
12
8 5 5 .3
9 1 9 .7
8 7 3 .8
9 1 1 .9
9 1 4 .1
9 2 0 .5
9 3 2 .4
i n s u r a n c e ............................................................
2 2 .9
2 4 .9
2 2 .3
2 3 .3
2 4 .2
2 5 .4
2 6 .7
I n c o m e r e c e i p t s o n a s s e t s .........................
13
1 5 .9
1 6 .0
1 5 .3
1 5 .0
1 5 .3
1 6 .1
1 7 .5
I n t e r e s t r e c e i p t s ............................................
13
6 3 .4
R e n t s a n d r o y a l t i e s ....................................
14
7 .1
8 .9
6 .9
8 .3
8 .9
9 .3
9 .3
D i v i d e n d s ...........................................................
14
2 .4
C u r r e n t t r a n s f e r r e c e i p t s ..............................
15
7 .1
3 2 .9
3 0 .6
3 2 .2
3 2 .8
3 3 .6
3 3 .0
R e n t s a n d r o y a l t i e s ....................................
15
9 .5
F r o m b u s i n e s s ...............................................
16
- 6.6
1 7 .6
1 6 .3
1 7 .5
1 7 .7
1 8 .0
1 7 .5
C u r r e n t t r a n s f e r r e c e i p t s ..............................
F r o m p e r s o n s ................................................
17
1 3 .8
1 5 .3
1 4 .3
1 4 .7
1 5 .2
1 5 .6
1 5 .5
C u rre n t s u rp lu s o f g o v e rn m e n t
Current expenditures.............
C o n s u m p t i o n e x p e n d i t u r e s .......................
C u r r e n t t r a n s f e r p a y m e n t s .........................
G o v e r n m e n t s o c i a l b e n e f i t s ................
T o p e r s o n s ..................................................
18
- 4 .9
- 1 .4
2,692.2
- 5 .4
- 1 .4
1.1
-1 .5
1.6
2,714.4
3 6 8 .6
3 7 1 .3
3 7 4 .0
8 0 .3
8 1 .5
8 1 .0
8 2 .0
6 6 .4
68.8
7 0 .9
2 4 .8
2 5 .2
2 4 .8
2 4 .7
2 4 .7
7 7 .6
7 6 .3
7 6 .7
7 7 .4
7 7 .9
7 8 .5
6 4 .6
6 4 .0
6 4 .1
6 4 .5
6 4 .8
6 5 .0
2 .5
2 .5
9 .8
10.1
1 0 .3
2.6
10.6
2.6
10.8
16
4 5 6 .1
4 6 0 .2
4 5 9 .8
4 5 0 .5
4 5 8 .3
4 6 8 .8
4 6 3 .3
3 6 1 .1
3 5 8 .0
3 6 6 .8
3 5 1 .3
3 5 7 .0
3 6 5 .6
3 5 8 .2
3 6 .7
3 9 .5
3 3 .1
3 8 .2
3 9 .1
3 9 .9
4 0 .6
F r o m p e r s o n s ..................................................
19
5 8 .3
6 2 .8
5 9 .9
6 1 .0
6 2 .2
6 3 .3
6 4 .5
C u rre n t s u rp lu s of g o v e rn m e n t
7 6 8 .6
8 0 8 .0
8 0 3 .6
8 0 2 .3
8 0 9 .1
8 1 7 .1
1 ,5 5 1 .6
1 ,5 0 2 .4
1 ,5 2 2 .0
1 ,5 4 6 .6
1 ,5 6 4 .8
1 ,5 7 2 .9
Current expenditures.............
1 ,0 8 1 .7
1 ,1 7 0 .5
1 ,0 9 6 .7
1 ,1 4 8 .8
1 ,1 6 6 .4
1 ,1 7 5 .2
1 ,1 9 1 .8
C o n s u m p t i o n e x p e n d i t u r e s ........................
23
1 ,0 7 8 .6
1 ,1 6 7 .3
1 ,0 9 3 .5
1 ,1 4 5 .5
1 ,1 6 3 .1
1 ,1 7 2 .1
1 ,1 8 8 .7
G o v e rn m e n t s o c ia l b e n e fit p a y m e n ts
3 .1
3 .2
3 .2
3 .2
3 .3
3 .1
3 .1
3 9 5 .0
3 8 1 .0
4 0 5 .7
3 7 3 .3
3 8 0 .3
3 8 9 .6
3 8 1 .1
G r a n t s - i n - a i d 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 .......................................
26
3 6 1 .1
3 5 8 .0
3 6 6 .8
T o t h e r e s t o f t h e w o r l d ( n e t ) ........
27
3 3 .9
2 3 .0
3 8 .9
28
2 5 3 .8
2 8 0 .4
3 5 1 .3
22.0
3 0 4 .9
1 4 0 .3
1 5 6 .3
1 3 4 .8
1 4 5 .1
1 4 8 .6
S u b s i d i e s ..................................................................
31
5 6 .9
6 2 .7
5 4 .7
5 1 .9
5 1 .4
5 0 .6
L es s: W a g e a c c ru a ls le s s
-309.2
S o c i a l i n s u r a n c e f u n d s .................................
34
5 8 .1
3S
- 3 6 7 .3
4 5 .7
4 1 1 .0
4 0 5 .5
9 6 .6
9 7 .5
9 8 .2
0 .4
0 .4
0 .4
0 .4
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-17.2
12.7
26.1
Net state and local
government saving.............
2 8 5 .4
1 2 2 .7
3?
3 9 1 .7
9 5 .8
0 .4
2 7 3 .9
2 5 7 .5
0.0
3 9 0 .4
9 5 .8
0 .4
d i s b u r s e m e n t s ...............................................
1 2 5 .3
0.0
4 0 7 .3
9 7 .0
0 .4
2 2 .9
1 5 1 .8
32
3 9 9 .7
9 4 .2
3 5 8 .2
2 7 7 .1
Net Federal Government
saving..................................
4 0 2 .3
24
25
2 4 .0
1 1 3 .6
d i s b u r s e m e n t s ...............................................
23
I n t e r e s t p a y m e n t s .............................................
3 6 5 .6
1 4 0 .3
5 2 .1
t o p e r s o n s ..........................................................
0.0
0.0
0.0
0.0
-263.6
-147.0
-163.1
-173.0
6 8 .5
5 6 .2
4 2 .6
-332 0
- 2 0 3 .2
- 2 0 5 .7
4 2 .1
-215
0.0
4 1 .8
1
Addenda:
Total receipts.............................
3fi
2,271.7
2,376.1
2,519.7
2,550.9
2,583.7
C u r r e n t r e c e i p t s .....................................
37
2 ,2 4 6 .8
2 ,3 4 9 .8
2 ,4 9 0 .9
2 ,5 2 3 .2
2 ,5 5 7 .2
20
-1 0 .5
- 8 .5
- 7 .9
- 8.2
- 8 .7
-7 .8
- 9 .3
21 1,703.9 1,785.0 1,746.8 1,742.7 1,769.4 1,808.9 1,819.1
22 1 , 2 0 7 . 2 1 , 2 8 7 . 9 1 , 2 4 3 . 4 1 , 2 5 6 . 2 1 , 2 8 0 . 7 1 , 3 0 0 . 0 1 , 3 1 4 . 9
S u b s i d i e s ..................................................................
2 3 .2
3 (1
T o p e r s o n s a n d b u s i n e s s ......................
e n t e r p r i s e s ........................................................
3 5 7 .0
T o t h e r e s t o f t h e w o r l d ...........................
L es s: W a g e a c c ru a ls le s s
71
S o c i a l i n s u r a n c e f u n d s ...................................
28
O t h e r ............................................................................
?<t
-3.3
7 .3
-
Total receipts...............................
30
1,754.6
C u r r e n t r e c e i p t s ......................................
31
1 ,7 0 0 .6
C a p i t a l t r a n s f e r r e c e i p t s ...................
32
5 3 .9
Total expenditures......................
33
1,849.6
C u r r e n t e x p e n d i t u r e s .........................
34
1 ,7 0 3 .9
1 ,7 8 5 .0
G r o s s g o v e rn m e n t in v e s tm e n t...
35
2 8 7 .3
3 1 2 .8
C a p i t a l t r a n s f e r p a y m e n t s ..............
3fi
2 7 .7
2 6 .5
39
2,633.0
2,763.1
2,692.7
2,725.8
2,766.9
2,814.1
2,745.7
C u r r e n t e x p e n d i t u r e s .........................
40
2 ,5 5 5 .9
2 ,6 9 2 .2
2 ,6 1 3 .3
2 ,6 3 7 .9
2, 686.2
2 ,7 3 0 .2
2 ,7 1 4 .4
c a p i t a l .......................................................
38
1 5 3 .2
G r o s s g o v e rn m e n t in v e s tm e n t...
41
1 0 9 .8
1 1 8 .4
1 1 5 .1
1 1 8 .2
1 1 7 .4
1 1 8 .1
120.1
Net lending or net borrowing (-)
39
-95.0
C a p i t a l t r a n s f e r p a y m e n t s ..............
42
6 7 .0
7 0 .1
6 4 .8
7 2 .0
6 9 .2
7 0 .1
6 9 .2
2 8 .8
2 7 .1
N et p u rc h a se s of n o n p ro d u ce d
0.6
43
-
c a p i t a l .......................................................
44
9 9 .0
Net lending or net borrowing (-)
45
-361.3
- 1 3 .3
0.0
0.2
- 2 .3
0.8
- 5 2 .1
L e s s : C o n s u m p t i o n o f f ix e d
1 0 4 .3
1 0 0 .7
1 0 2 .4
1 0 3 .7
-316.6
-206.1
-216.0
1 0 5 .1
-230.4
6.2
-10.2
5 .8
5 .5
6 .5
2 0 .4
- 1 5 .7
1,783.4
1,811.1
1,851.5
1,856.6
1 ,7 2 9 .6
1 755 4
1 7 9 5 .5
1 798 7
5 3 .8
5 5 .6
5 6 .0
5 .3
5 6 .6
1,948.6
1,898.3
5 8 .0
5 6 .9
1,899.7
1,935.8
1,973.6
1,985.4
1 ,7 4 6 .8
1 ,7 4 2 .7
1 ,7 6 9 .4
1 ,8 0 8 .9
1 ,8 1 9 .1
2 9 4 .0
3 0 1 .7
3 1 3 .5
3 1 5 .0
3 2 1 .0
N et p u rc h a se s of n o n p ro d u ce d
38
2 6 .3
6.8
- 2 4 .0
Addenda:
C a p i t a l t r a n s f e r r e c e i p t s ...................
2 7 .5
5 .7
10.6
Total expenditures......................
2 5 .0
1 0 .4
2.6
17
1 ,4 7 6 .7
24
2.6
2 4 .8
18
20
21
22
25
3 6 3 .2
8 0 .5
6 1 .3
F e d e r a l g r a n t s - i n - a i d .................................
2,555.9
7 7 1 .1
2,730.2
-
T o t h e r e s t o f t h e w o r l d ....................
a s s e t s .......................................................
2 7 6 .4
F r o m b u s i n e s s ( n e t ) ...................................
19
2,613.3
2,637.9
-
2,686.2
O th e r c u r r e n t tr a n s f e r p a y m e n ts ....
I n t e r e s t p a y m e n t s .............................................
3 0 2 .0
C o n trib u tio n s fo r g o v e r n m e n t s o c ia l
I n t e r e s t r e c e i p t s ............................................
e n t e r p r i s e s .......................................................
IV
1 211 3
3 0 1 .1
1 1 .4
III
1,755.4 1,795.5
2 7 5 .2
2 4 .6
II
2 7 9 .3
1 ,1 5 4 .4
3
S a l e s t a x e s .................................................
2006
I
1 ,1 7 6 .3
?
P e r s o n a l c u r r e n t t a x e s ............................
3 2 2 .5
2005
1,729.6
C u r r e n t t a x r e c e i p t s .........................................
C o n trib u tio n s fo r g o v e rn m e n t s o c ia l
I n c o m e r e c e i p t s o n a s s e t s .........................
2006
IV
9 6 8 .4
3
2005
IV
1 ,4 2 8 .4
2,349.8
1 ,3 6 6 .2
P e r s o n a l c u r r e n t t a x e s ............................
10.8
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
2005
1 0 6 .0
a s s e t s .......................................................
3/
11.6
12.2
11.8
12.0
12.2
1 2 .3
1 2 .4
1 5 4 .3
1 5 6 .7
1 5 9 .2
1 6 2 .5
1 6 7 .0
-114.9
-88.7
-84.3
-117.0
L e s s : C o n s u m p t i o n o f f ix e d
1 6 1 .4
March 2007
D-23
S u r v e y o f C u r r e n t B u s in e s s
Table 3.9.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and Gross Investment
Table 3.9.2. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment
[P e r c e n t]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
IV
Government consumption
expenditures and gross
investment.........................
C o n s u m p tio n e x p e n d itu r e s
L in e
2006
I
III
II
2005
2006
IV
IV
2006
2005
I
III
II
IV
Percent change at annual rate:
1
2
1
4.9
1.7
3 .3
2 .5
3 .6
0.9
2.1
-1.1
0 .9
1.6
-
1.1
2.0
4 .1
4 .0
7 .6
7 .4
- 2 .3
1.6
2 .9
4 .3
5 .5
1 0 .3
- 4 .5
2 .5
2.1
4 .4
0.8
- 0 .5
Government consumption
expenditures and gross
investment.........................
1
-1.1
0 .7 2
1 .3 7
- 1 .7 4
0 .1 8
0 .6 9
0.66
1 .2 6
0.21
0 .3 1
0 .4 4
0 .3 9
0 .3 8
0.22
6
0.56
0.72
C o n s u m p t i o n e x p e n d i t u r e s ........
7
0 .2 8
G r o s s i n v e s t m e n t ...............................
8
3
S t r u c t u r e s ....................................
4
E q u ip m e n t a n d s o ftw a re
5
6 .4
6.2
3 .5
11.1
2.6
1 .7
0.1
6
1.5
2.0
-4.6
8.8
-4.5
1.3
4.4
2
G r o s s i n v e s t m e n t 2.....................
3
C o n s u m p t i o n e x p e n d i t u r e s ........
7
0 .9
1 .4
- 6 .7
8 .7
- 4 .4
1 .5
4 .1
8
4
6 .4
11.1
S t r u c t u r e s ....................................
G r o s s i n v e s t m e n t ................................
8 .9
- 4 .9
5 .8
E q u ip m e n t a n d s o ftw a re
5
-
Federal..........................................
-
1.6
6.1
- 1.2
6 9 .9
-1 7 .0
-4 0 .9
7 .7
7 .3
3 .5
1 4 .2
2 .5
0.0
- 0.6
0.1
1.7
1.9
-9.9
8.9
-2.0
-1.2
12.3
1.2
1.2
10.8
9 .1
- 0 .9
1 1 .3
13
5 .5
7 .2
- 3 .1
7 .9
1 4 .1
-3 .1
1 9 .0
14
- 3 .5
3 .8
1 1 .3
- 1 9 .0
-1 0 .7
4 .6
2 8 8 .2
6.2
7 .5
- 4 .1
10.2
1 6 .1
- 3 .6
7 .7
16
1.1
2.1
7.1
8.5
-9.3
6.5
-10.2
C o n s u m p t i o n e x p e n d i t u r e s ........
17
1.8
2 .4
6 .5
- 9 .1
18
8.1
10.8
- 5 .0
G r o s s i n v e s t m e n t ................................
0.1
8.1
- 0.6
-3 2 .9
6 .7
-1 7 .3
S t r u c t u r e s ...........................................
9
E q u i p m e n t a n d s o f t w a r e ........
C o n s u m p t i o n e x p e n d i t u r e s ........
10
11
12
G r o s s i n v e s t m e n t ................................
S t r u c t u r e s ...........................................
E q u i p m e n t a n d s o f t w a r e ........
15
Nondefense...............................
National defense.......................
-
-4.1
2.0
3 .8
4 3 .8
- 3 .7
1 0 8 .3
- 1 6 .1
- 5 1 .4
- 3 .2
2 .9
2 4 .6
2 3 .9
-2 4 .5
1 0 .3
-2 3 .6
S t r u c t u r e s ..........................................
19
E q u i p m e n t a n d s o f t w a r e ........
1 1 .7
6.8
0.5
2.1
C o n s u m p t i o n e x p e n d i t u r e s ..............
20
21
22
G r o s s i n v e s t m e n t ......................................
23
-0 .9
S t r u c t u r e s ................................................
24
-
E q u ip m e n t a n d s o f tw a r e
25
State and local..............................
-
7 0 .6
2.7
1.9
2.6
1.8
1.0
1 .7
2.1
3 .1
3 .3
3 .4
1 .4
7 .0
1 2 .5
- 3 .1
0.1
2.0
3 .2
0 .9
7 .4
1 4 .8
4 .2
4 .2
3 .7
5 .6
2 .9
0 .9
1.0
4.0
-Al
4 .7
-0 .7
3 .9
1 . G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s a r e s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e ) p r o d u c e d by g o v e r n m e n t
th a t a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s t
m e n t ( c o n s tr u c tio n a n d s o f tw a r e ).
2 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n te r p r i s e e x p e n d itu r e s for fix ed a s s e t s ;
0.9
4.9
2.1
G r o s s i n v e s t m e n t 2.....................
1.7
0.8
3 .3
Percentage points at annual
rates:
C o n s u m p tio n e x p e n d itu r e s
1
Federal..........................................
-
3 .6 5
- 0 .4 1
2 .0 6
-0 .3 9
0 .2 8
0 .5 9
1 .0 6
-0 .5 0
0 .2 8
0 .6 7
0 .1 6
0.11
0.01
-1.73
3.17
-1.69
0.47
1.58
0 .4 5
-2 .2 3
2 .7 6
-1 .4 5
0 .4 7
1 .3 1
0 .2 8
0 .4 9
0 .4 2
- 0 .2 4
0 .2 7
0.01
0 .3 6
- 0 .1 3
- 0 .3 4
S t r u c t u r e s ..........................................
9
E q u i p m e n t a n d s o f t w a r e ........
0 .3 0
0 .2 9
0 .1 3
0 .5 5
0.10
0.43
0.47
-2.57
2.15
-0.50
-0.30
C o n s u m p t i o n e x p e n d i t u r e s ........
10
11
12
0.00
0.00
0.01
0 .2 6
0 .2 5
-2 .4 7
1 .9 1
- 0 .9 1
-
G r o s s i n v e s t m e n t ...............................
13
0 .1 6
-
0 .2 4
0 .4 1
-
S t r u c t u r e s ..........................................
14
0.10
0.02
- 0.12
National defense.......................
0 .2 8
-
0.01
-
2 .9 8
1.22
0.20
0.10
0.01
0.11
0 .3 5
- 0 .0 8
2.86
2 .3 1
E q u i p m e n t a n d s o f t w a r e ........
15
0 .1 7
0.22
0.01
0.21
Nondefense...............................
16
0.14
0.25
0.84
1.02
-1.19
0.77
-1.28
C o n s u m p t i o n e x p e n d i t u r e s ........
17
0.02
0.12
0.00
0.12
0 .1 9
0 .2 5
0 .8 5
- 0 .5 5
0 .6 7
- 0 .9 9
0.10
0.01
0.11
- 0 .2 8
G r o s s i n v e s t m e n t ...............................
-
18
S t r u c t u r e s ..........................................
19
E q u i p m e n t a n d s o f t w a r e ........
C o n s u m p t i o n e x p e n d i t u r e s ..............
20
21
22
G r o s s i n v e s t m e n t ......................................
23
-
S t r u c t u r e s .................................................
24
-
E q u i p m e n t a n d s o f t w a r e ..............
25
State and lo c a l..............................
0.01
- 0 .0 5
0 .2 8
-
0.02
0 .4 3
-
0 .5 5
0 .3 4
0.22
0 .5 9
0 .1 8
- 0 .6 5
0.02
0 .3 3
- 0 .0 9
- 0 .3 1
0 .0 8
0 .2 6
0 .2 6
- 0 .3 3
0.33
1.34
0.66
1.74
2.50
1.20
0 .4 4
0 .9 2
0 .4 9
0 .8 9
1 .0 5
1 .5 9
0.10
0.20
0.10
0 .4 1
0 .1 7
0 .8 5
1 .4 6
-0 .3 9
0.01
0 .3 2
0 .0 9
0 .7 2
1 .3 9
- 0 .5 0
- 0 .0 7
0 .0 9
0 .0 8
0 .1 3
0 .0 6
0 .0 6
-
-
0.10
0.01
- 0 .3 0
1.69
1 .6 7
0 .0 9
1 . G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s a r e s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e ) p r o d u c e d by g o v e r n m e n t
th a t a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s t
in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
m e n t (c o n s tr u c tio n a n d s o f tw a r e ).
2 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s of g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s for fix ed a s s e t s ;
in v e n to ry in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
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
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
[I n d e x n u m b e r s , 2 0 0 0 = 1 0 0 ]
S e a s o n a lly a d ju s te d
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Government consumption
expenditures and gross
investment.........................
C o n s u m p tio n e x p e n d itu r e s 1
G r o s s i n v e s t m e n t 2.....................
L in e
2006
I
II
III
2005
2006
1 113.731 116.072 114.048 115.423 115.657 116.136 117.073
2 1 1 3 .5 6 4 1 1 5 .4 3 2 1 1 3 .7 0 0 1 1 4 .9 2 5 1 1 4 .7 8 4 1 1 5 .4 9 5 1 1 6 .5 2 2
2005
IV
IV
Government consumption
expenditures and gross
investment.........................
C o n s u m p tio n e x p e n d itu r e s
1
2006
I
II
III
IV
1 121.183 126.468 123.444 124.791 126.262 127.150 127.671
2 1 2 2 .7 6 8 1 2 8 .1 3 4 1 2 5 .0 3 4 1 2 6 .4 8 0 1 2 8 .0 6 5 1 2 8 .8 6 9 1 2 9 .1 2 1
3
1 1 4 .4 3 1
1 1 9 .1 4 5
1 1 5 .6 4 9
1 1 7 .7 7 7
1 1 9 .8 9 8
1 1 9 .2 0 9
1 1 9 .6 9 4
G r o s s i n v e s t m e n t 2.....................
3
1 1 3 .9 4 7
1 1 8 .8 6 8
1 1 6 .1 9 2
1 1 7 .0 8 5
1 1 8 .0 4 1
1 1 9 .3 0 5
S t r u c t u r e s ....................................
4
1 0 4 .7 7 0
1 0 7 .8 2 6
1 0 4 .8 8 1
1 0 6 .3 0 5
1 0 8 .9 3 9
1 0 7 .6 9 0
1 0 8 .3 6 9
S t r u c t u r e s ....................................
4
1 2 5 .4 9 7
1 3 3 .9 5 5
1 2 9 .6 0 3
1 3 1 .0 5 6
1 3 2 .4 7 7
1 3 4 .6 3 1
1 2 1 .0 4 0
1 3 7 .6 5 7
E q u ip m e n t a n d s o ftw a re
5
1 3 3 .1 4 6
1 4 1 .3 3 7
1 3 6 .7 0 7
1 4 0 .3 4 5
1 4 1 .2 6 1
1 4 1 .8 5 9
1 4 1 .8 8 3
E q u ip m e n t a n d s o ftw a re
5
9 6 .5 8 0
9 6 .9 0 2
9 6 .3 9 9
9 6 .5 6 6
9 6 .9 1 5
9 7 .0 2 7
9 7 .1 0 2
Federal..........................................
C o n s u m p t i o n e x p e n d i t u r e s ........
G r o s s i n v e s t m e n t ...............................
S t r u c t u r e s ..........................................
6 125.701 128.174 126.053 128.728 127.262 127.669 129.037
Federal..........................................
6 120.726 124.891 121.479 123.721 124.871 125.482 125.490
7
1 2 4 .3 3 9
1 2 6 .0 6 1
1 2 3 .9 5 2
1 2 6 .5 7 7
1 2 5 .1 5 6
1 2 5 .6 1 4
1 2 6 .8 9 6
C o n s u m p t i o n e x p e n d i t u r e s ........
7
1 2 3 .7 9 2
1 2 8 .3 7 8
1 2 4 .5 9 4
1 2 7 .1 5 2
1 2 8 .3 9 1
1 2 9 .0 0 7
1 2 8 .9 6 1
8
1 3 5 .7 2 6
1 4 3 .9 4 6
1 4 1 .7 3 9
1 4 4 .7 9 6
1 4 2 .9 7 9
1 4 2 .9 8 6
1 4 5 .0 2 2
G r o s s i n v e s t m e n t ...............................
8
1 0 1 .7 7 6
1 0 3 .5 3 6
1 0 2 .2 2 6
1 0 2 .6 9 3
1 0 3 .3 3 6
1 0 3 .9 0 5
1 0 4 .2 1 2
9 5 .1 0 6
9 3 .9 6 8
1 0 4 .9 4 7
1 0 0 .1 6 0
8 7 .8 2 0
8 7 .6 8 5
1 0 0 .2 0 6
S t r u c t u r e s ..........................................
9
1 2 1 .9 7 0
1 3 0 .4 3 8
1 2 5 .7 9 0
1 2 7 .6 5 1
1 2 9 .6 0 2
1 3 1 .0 7 3
1 3 3 .4 2 5
9
C o n s u m p t i o n e x p e n d i t u r e s ........
10 1 4 4 . 8 4 8 1 5 5 . 4 1 1 1 4 9 . 8 2 4 1 5 4 . 8 7 3 1 5 5 . 8 2 1 1 5 5 . 8 6 5 1 5 5 . 0 8 6
11 130.593 133.073 130.002 132.808 132.141 131.740 135.605
12 1 2 8 . 5 5 1 1 3 0 . 0 4 4 1 2 7 . 5 4 4 1 3 0 . 3 4 3 1 2 8 . 9 8 1 1 2 8 . 6 8 1 1 3 2 . 1 7 1
C o n s u m p t i o n e x p e n d i t u r e s ........
9 9 .3 2 4
9 8 .4 4 6
9 8 .7 2 1
9 9 .1 9 9
9 9 .6 6 0
9 9 .7 1 6
10 9 8 . 4 3 6
11 121.855 126.019 122.760 124.752 126.006 126.714 126.603
12 1 2 5 . 0 7 1 1 2 9 . 6 4 2 1 2 6 . 0 6 1 1 2 8 . 3 2 7 1 2 9 . 6 8 1 1 3 0 . 3 7 5 1 3 0 . 1 8 6
G r o s s i n v e s t m e n t ...............................
13
1 4 5 .9 2 0
1 5 6 .4 6 9
1 4 8 .7 0 3
1 5 1 .5 4 4
1 5 6 .6 3 1
1 5 5 .3 9 7
1 6 2 .3 0 3
G r o s s i n v e s t m e n t ...............................
13
1 0 1 .6 2 8
1 0 3 .4 0 5
1 0 2 .0 2 6
1 0 3 .8 8 0
1 0 4 .1 9 1
S t r u c t u r e s ..........................................
14
8 5 .2 6 3
8 8 .4 6 2
8 6 .0 4 5
8 1 .6 3 1
7 9 .3 4 7
8 0 .2 3 9
1 1 2 .6 3 1
S t r u c t u r e s ..........................................
14
1 2 2 .2 8 8
1 3 0 .4 7 2
1 2 6 .7 8 5
1 2 8 .1 1 6
1 2 9 .6 7 4
1 3 0 .6 4 1
1 3 3 .4 5 5
E q u i p m e n t a n d s o f t w a r e ........
15
1 5 3 .4 3 6
1 6 4 .9 2 3
1 5 6 .4 7 0
1 6 0 .3 3 3
1 6 6 .4 4 3
1 6 4 .9 1 1
1 6 8 .0 0 6
E q u i p m e n t a n d s o f t w a r e ........
15
9 9 .9 0 1
1 0 1 .2 7 6
1 0 0 .0 4 4
1 0 0 .3 9 9
1 0 1 .0 1 6
1 0 1 .7 7 2
1 0 1 .9 1 7
Nondefense..............................
16
116.896 119.364 118.971
121.411
118.488 120.370 117.186
Nondefense...............................
16
118.606 122.769 119.059 121.787 122.736 123.154 123.400
C o n s u m p t i o n e x p e n d i t u r e s ........
17
1 1 6 .5 9 3
1 1 8 .7 4 7
1 1 7 .3 6 2
1 1 9 .6 6 6
1 1 8 .1 3 7
1 2 0 .0 0 6
1 1 7 .1 7 9
C o n s u m p t i o n e x p e n d i t u r e s ........
17
1 2 1 .3 8 1
1 2 5 .9 9 5
1 2 1 .8 1 0
1 2 4 .9 4 4
1 2 5 .9 5 8
1 2 6 .4 2 2
G r o s s i n v e s t m e n t ...............................
18
1 1 9 .6 7 0
1 2 4 .1 9 6
1 3 0 .8 0 1
1 3 4 .2 0 1
1 2 1 .4 4 8
1 2 3 .4 2 7
1 1 7 .7 0 7
G r o s s i n v e s t m e n t ...............................
18
1 0 1 .9 1 3
1 0 3 .6 2 9
1 0 2 .4 7 0
1 0 3 .0 3 5
1 0 3 .6 2 3
1 0 3 .7 8 0
1 0 4 .0 7 8
S t r u c t u r e s ..........................................
19
1 0 0 .9 7 2
9 7 .2 7 0
1 1 6 .2 6 2
1 1 1 .2 5 4
9 2 .8 8 5
9 2 .1 3 7
9 2 .8 0 4
S t r u c t u r e s ..........................................
19
1 2 1 .8 1 9
1 3 0 .3 7 8
1 2 5 .3 0 1
1 2 7 .3 9 4
1 2 9 .5 3 1
1 3 1 .2 6 1
1 3 3 .3 2 6
E q u i p m e n t a n d s o f t w a r e ........
20 1 2 8 . 1 0 0 1 3 6 . 7 5 2 1 3 7 . 1 2 5 1 4 4 . 6 7 9 1 3 4 . 8 6 4 1 3 8 . 2 2 0 1 2 9 . 2 4 4
21 107.660 109.930 107.954 108.682 109.762 110.277 111.000
22 1 0 7 . 6 5 5 1 0 9 . 6 0 2 1 0 8 . 0 7 4 1 0 8 . 5 3 6 1 0 9 . 0 9 5 1 0 9 . 9 4 4 1 1 0 . 8 3 3
E q u i p m e n t a n d s o f t w a r e ........
9 4 .4 5 4
20 9 4 . 9 0 2 9 4 . 6 5 9 9 4 . 6 0 3
9 4 .7 0 3
9 4 .8 6 1
9 4 .6 1 9
21 121.463 127.411 124.620 125.434 127.095 128.147 128.969
22 1 2 2 . 1 7 7 1 2 8 . 0 3 5 1 2 5 . 3 6 5 1 2 6 . 1 1 2 1 2 7 . 9 1 6 1 2 8 . 8 3 8 1 2 9 . 2 7 5
E q u i p m e n t a n d s o f t w a r e ........
National defense.......................
State and local..............................
C o n s u m p t i o n e x p e n d i t u r e s ..............
E q u i p m e n t a n d s o f t w a r e ........
National defense.......................
State and lo c a l..............................
C o n s u m p t i o n e x p e n d i t u r e s ..............
1 0 2 .4 3 8
1 0 3 .1 0 9
1 2 6 .6 5 8
1 0 7 .5 6 3
1 1 1 .1 9 3
1 0 7 .3 3 5
1 0 9 .1 7 7
1 1 1 .5 5 8
1 1 1 .5 9 0
G r o s s i n v e s t m e n t ......................................
23
1 1 8 .6 7 9
1 2 4 .9 9 7
1 2 1 .7 1 6
1 2 2 .7 9 9
1 2 3 .8 9 3
1 2 5 .4 6 2
1 2 7 .8 3 5
S t r u c t u r e s ................................................
24
1 0 5 .5 0 1
1 0 8 .8 7 0
1 0 4 .9 0 1
1 0 6 .7 8 0
1 1 0 .5 1 7
1 0 9 .1 8 5
1 0 8 .9 9 8
S t r u c t u r e s .................................................
24
1 2 5 .7 3 7
1 3 4 .1 8 9
1 2 9 .8 6 0
1 3 1 .2 8 3
1 3 2 .6 7 0
1 3 4 .8 6 6
1 3 7 .9 3 5
E q u ip m e n t a n d s o ftw a re
25
1 1 6 .9 6 5
1 2 1 .8 2 8
1 1 8 .5 3 8
1 2 0 .1 7 6
1 2 1 .0 5 1
1 2 2 .4 4 9
1 2 3 .6 3 7
E q u i p m e n t a n d s o f t w a r e ..............
25
9 3 .7 9 3
9 3 .1 3 9
9 3 .2 8 2
9 3 .2 6 3
9 3 .3 8 9
9 2 .9 0 0
9 3 .0 0 6
G r o s s i n v e s t m e n t ......................................
23
1 1 2 .4 4 8
1 . G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s a r e s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e ) p r o d u c e d b y g o v e r n m e n t
th a t a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s t
m e n t ( c o n s tr u c tio n a n d s o f tw a r e ).
2 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s of g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n te r p r i s e e x p e n d itu r e s fo r fix e d a s s e t s ;
in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
1 . G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s a r e s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e ) p r o d u c e d b y g o v e r n m e n t
t h a t a r e v a lu e d a t th e ir c o s t o f p ro d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s t
m e n t ( c o n s tr u c tio n a n d s o f tw a r e ).
2 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s for fix e d a s s e t s ;
in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
D-24
National Data
March 2007
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and
Gross Investment, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
Government consumption
expenditures and gross
investment.........................
C o n s u m p tio n e x p e n d itu r e s
1
2005
1 2,372.8
2 1 ,9 7 5 .7
2006
2005
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
2006
L in e
IV
I
II
III
IV
2,527.2
2,423.6
2,479.6
2,513.9
2,542.1
2,573.1
Government consumption
expenditures and gross
investment.........................
C o n s u m p tio n e x p e n d itu r e s
1
1,963.5
1,987.1
1,991.2
1,999.4
2,015.5
1 ,6 1 1 .2
1 ,6 2 8 .6
1 ,6 2 6 .6
1 ,6 3 6 .7
1 ,6 5 1 .2
3 6 2 .8
3 5 2 .2
3 5 8 .6
3 6 5 .1
3 6 3 .0
3 6 4 .5
4
1 9 8 .4
2 0 4 .1
1 9 8 .6
2 0 1 .3
2 0 6 .2
2 0 3 .9
2 0 5 .2
5
1 5 3 .4
1 6 2 .8
1 5 7 .5
1 6 1 .7
1 6 2 .7
1 6 3 .4
1 6 3 .4
6
727.5
741.8
729.6
745.1
736.6
738.9
746.8
7
6 2 0 .8
6 2 9 .4
6 1 8 .9
6 3 2 .0
6 2 4 .9
6 2 7 .2
6 3 3 .6
8
1 0 7 .9
1 1 4 .4
112.6
1 1 3 .6
1 1 3 .6
1 1 5 .2
4 3 3 .0
4 4 1 .1
G r o s s i n v e s t m e n t 2.....................
3
S t r u c t u r e s ......................................
4
5
2 4 8 .9
2 7 3 .5
2 5 7 .3
2 6 3 .7
2 7 3 .2
2 7 4 .5
2 8 2 .4
S t r u c t u r e s ....................................
1 4 8 .1
1 5 7 .8
1 5 1 .8
1 5 6 .1
1 5 7 .7
1 5 8 .6
1 5 8 .7
E q u ip m e n t a n d s o ftw a re
919.7
927.2
937.2
8 0 2 .3
8 0 9 .1
8 1 7 .1
C o n s u m p t i o n e x p e n d i t u r e s ........
1 1 7 .4
1 1 8 .1
120.1
G r o s s i n v e s t m e n t ...............................
G r o s s i n v e s t m e n t .................................
926.4
886.2
7 6 8 .6
8 0 8 .0
7 7 1 .1
8 0 3 .6
8
1 0 9 .8
1 1 8 .4
1 1 5 .1
1 1 8 .2
Federal..........................................
IV
1 ,6 3 5 .8
4 3 0 .9
878.3
III
1,998.3
2 ,1 3 2 .0
4 1 9 .9
7
II
3 4 8 .5
2 ,1 0 9 .1
4 0 9 .1
6
I
1 ,6 0 9 .3
2 ,0 8 3 .0
4 3 1 .2
C o n s u m p t i o n e x p e n d i t u r e s ..........
2006
IV
1,958.0
2 ,0 5 9 .7
3 9 7 .1
921.7
2005
1
2 ,0 1 4 .5
3
Federal...........................................
2006
2
2 ,0 9 6 .0
G r o s s i n v e s t m e n t 2......................
E q u ip m e n t a n d s o f tw a r e ...
2005
1 1 5 .1
S t r u c t u r e s ............................................
9
1 5 .4
1 6 .3
1 7 .5
1 7 .0
1 7 .8
S t r u c t u r e s ..........................................
9
12.6
1 2 .5
1 4 .0
1 3 .3
1 1 .7
1 1 .7
E q u i p m e n t a n d s o f t w a r e ..........
10
11
12
9 4 .4
102.1
9 7 .6
101.2
1 0 2 .3
102.8
1 0 2 .3
E q u i p m e n t a n d s o f t w a r e ........
10
9 5 .8
102.8
9 9 .1
1 0 2 .5
1 0 3 .1
1 0 3 .1
102.6
589.3
621.0
590.9
613.5
616.5
618.1
635.7
National defense.......................
483.6
492.8
481.4
491.8
489.3
487.8
502.2
5 1 6 .9
5 4 2 .0
5 1 6 .9
5 3 7 .7
5 3 7 .7
5 3 9 .3
5 5 3 .2
C o n s u m p t i o n e x p e n d i t u r e s ........
11
12
4 1 3 .3
4 1 8 .1
4 1 0 .0
4 1 9 .0
4 1 4 .7
4 1 3 .7
4 2 4 .9
G r o s s i n v e s t m e n t .................................
13
7 2 .4
7 9 .0
7 4 .1
7 5 .8
7 8 .8
7 8 .8
8 2 .5
G r o s s i n v e s t m e n t ................................
13
7 1 .2
7 6 .4
7 2 .6
7 4 .0
7 6 .5
7 5 .9
7 9 .2
S t r u c t u r e s ............................................
14
5 .2
5 .7
5 .4
5 .2
5 .1
5 .2
7 .5
S t r u c t u r e s ..........................................
14
4 .2
4 .4
4 .3
4 .1
3 .9
4 .0
5 .6
E q u i p m e n t a n d s o f t w a r e ..........
15
6 7 .2
7 3 .2
68.6
7 0 .6
7 3 .7
7 3 .6
7 5 .1
E q u i p m e n t a n d s o f t w a r e ........
15
6 7 .3
7 2 .3
68.6
7 0 .3
7 3 .0
7 2 .3
7 3 .7
National defense........................
C o n s u m p t i o n e x p e n d i t u r e s ..........
Nondefense...............................
1 5 .1
1 5 .3
1 3 .3
16
289.0
305.5
295.3
308.2
303.2
309.0
301.5
16
243.7
248.8
248.0
253.1
247.0
250.9
244.3
C o n s u m p t i o n e x p e n d i t u r e s ..........
17
2 5 1 .7
2 6 6 .0
2 5 4 .2
2 6 5 .9
2 6 4 .6
2 6 9 .8
2 6 3 .9
C o n s u m p t i o n e x p e n d i t u r e s ........
17
2 0 7 .3
211.2
2 0 8 .7
212.8
210.1
2 1 3 .4
2 0 8 .4
G r o s s i n v e s t m e n t .................................
18
3 7 .4
3 9 .4
4 1 .1
4 2 .4
3 8 .6
3 9 .3
3 7 .5
G r o s s i n v e s t m e n t ................................
18
3 6 .7
3 8 .1
4 0 .1
4 1 .1
3 7 .2
3 7 .8
3 6 .1
Nondefense...............................
S t r u c t u r e s ............................................
19
10.2
1 0 .5
12.1
11.8
10.0
10.1
1 0 .3
S t r u c t u r e s ..........................................
19
E q u i p m e n t a n d s o f t w a r e ..........
2 7 .1
2 8 .9
2 9 .0
3 0 .6
2 8 .6
2 9 .2
2 7 .3
E q u i p m e n t a n d s o f t w a r e ........
20
C o n s u m p t i o n e x p e n d i t u r e s ................
20
21
22
G r o s s i n v e s t m e n t .......................................
23
S t r u c t u r e s ..................................................
E q u i p m e n t a n d s o f t w a r e ................
State and local...............................
1,494.4
1,600.7
1 ,2 0 7 .2
1 ,2 8 7 .9
2 8 7 .3
3 1 2 .8
24
2 3 3 .5
25
5 3 .8
8.1
9 .7
9 .3
7 .7
7 .7
7 .7
3 0 .5
3 0 .6
3 2 .3
3 0 .1
3 0 .9
2 8 .9
1,537.4
1,557.9
1,594.2
1,614.9
1,635.9
1,242.0
1,254.4
1,260.3
1,268.5
1 ,2 4 3 .4
1 ,2 5 6 .2
1 ,2 8 0 .7
1 ,3 0 0 .0
1 ,3 1 4 .9
C o n s u m p t i o n e x p e n d i t u r e s ..............
22
9 8 8 .0
1 ,0 0 5 .9
9 9 1 .9
9 9 6 .1
1, 001.2
1 ,0 0 9 .0
1 ,0 1 7 .2
2 9 4 .0
3 0 1 .7
3 1 3 .5
3 1 5 .0
3 2 1 .0
G r o s s i n v e s t m e n t ......................................
23
2 4 2 .1
2 5 0 .2
2 4 1 .6
2 4 5 .7
2 5 3 .1
2 5 1 .1
2 5 1 .1
2 5 7 .2
2 3 9 .8
2 4 6 .8
2 5 8 .1
2 5 9 .2
2 6 4 .7
S t r u c t u r e s ................................................
24
1 8 5 .7
1 9 1 .6
1 8 4 .7
1 8 8 .0
1 9 4 .5
1 9 2 .2
1 9 1 .9
5 5 .6
5 4 .2
5 4 .9
5 5 .4
5 5 .8
5 6 .4
E q u i p m e n t a n d s o f t w a r e ...............
25
5 7 .3
5 9 .7
5 8 .1
5 8 .9
5 9 .3
6 0 .0
6 0 .6
R e s i d u a l ..................................................................
26
-
2.1
- 3 .5
- 3 .1
- 3 .7
- 3 .3
- 3 .8
- 3 .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.
8 .4
2 8 .6
State and lo c a l..............................
21
1,230.4
1,256.3
1,233.7
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.
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.
March 2007
D-25
S u r v e y o f 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
[P e r c e n t]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2006
2005
2005
2006
IV
I
II
1
2
0.9
1.6
-2.1
4.4
1.1
1 .7
- 1 .5
3 .9
V a l u e a d d e d ........................................................................................................................................................................................
3
0 .9
0 .7
0 .9
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ......................................................................................
4
0 .3
0 .7
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2...................................................................................
5
0.6
2.6
2.8
2 .3
3 .4
Government consumption expenditures 1..........................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ...................................................................................................................................
3.6
2 .4
3 .1
- 0 .7
0.2
0.8
-1 .4
0 .5
2 .3
1 .3
2.8
3 .1
3 .3
6
1 .3
3 .3
7
2 .5
4 .2
N o n d u ra b le g o o d s
8
1.2
1 .5
9
1 .3
3 .9
- 8 .4
1 6 .3
10
11
12
1 .4
4 .2
5 .0
3 .7
8 .9
2 .3
1.8
1.6
1.0
0.9
1.4
-6.7
1.1
0.6
0.1
2.6
1.8
1 .3
- 6 .7
1 .5
- 3 .5
-
1.2
2.6
- 5 .1
-0 .7
S e r v i c e s ...............................
L ess: O w n -a c c o u n t in v e s tm e n t4
S a le s to o th e r s e c to r s
Federal consumption expenditures 1
G ro s s o u tp u t o f g e n e r a l g o v e rn m e n t
13
V a l u e a d d e d ..................................
14
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
15
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
16
3............................................................................................................
17
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
D u r a b l e g o o d s ........................
................................................................
N o n d u ra b le g o o d s
19
S a le s to o th e r s e c to r s
Defense consumption expenditures 1...........................................
1.1
2 .5
3 .3
1 1 .5
6.1
0.8
3 .8
5 .7
9 .3
-2 0 .4
3 7 .2
1.0
- 7 .9
1.2
24
1 .3
25
8.2
5 .0
3 .6
8.7
-4.4
1.5
4.1
8.1
- 3 .9
1 .3
3 .0
10.2
2.2
-
-0.9
11.3
10.1
3 .7
0 .9
0 .4
-6 .9
-
1.6
2.1
- 6.2
1.1
4 .3
0.6
1.6
2 .4
2 .4
2 9 .6
32
S a le s to o th e r s e c to r s
33
Nondefense consumption expenditures 1
G ro s s o u tp u t o f g e n e r a l g o v e rn m e n t
35
V a l u e a d d e d ..................................
9 .8
- 2 2 .7
-
- 2 8 .6
4 2 .1
- 5 .5
1 .5
5 .5
- 3 .9
2 1 .7
1 3 .2
- 8 1 .3
3 1 6 .1
0.1
1.8
2.4
1 .4
3 .6
0 .3
2 .7
-
0.2
2.6
-
2 .7
3 .0
0 .9
37
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
38
3............................................................................................................
-
4 .9
36
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
- 1 2 .3
11.6
34
0 .3
-
0.2
-
- 1 .3
- 6 6 .4
-1 .4
-2 4 .0
L ess: O w n -a c c o u n t in v e s tm e n t4
8.1
-1 9 .2
- 0 .7
3 .5
2.2
2 .5
6 0 .9
-4.1
2 .3
-
1 2 .4
-3 .3
1.8
31
- 3 8 .1
- 4 .8
9 .8
2 .5
- 3 .0
1 9 .5
5 .9
- 7 .1
-
9.1
28
30
2 7 .3
- 2 2 .3
- 4 .7
27
N o n d u ra b le g o o d s ..
2.0
6 .9
0 .9
3............................................................................................................
S e r v i c e s .....................................
2.0
-
- 0 .5
2.1
1.1
-1 1 .5
-
5 .8
-8 .3
0.0
3 .2
3 .5
2 .3
-10.8
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
2 .4
0.1
0.0
1.2
- 0 .7
0 .3
29
-
1.2
0.8
26
D u r a b l e g o o d s ........................
1.1
-
8.8
- 3 3 .1
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
5 .5
12.6
- 3 .2
0 .4
3 2 .6
4 .0
-1 7 .0
4 .3
0.1
1.8
2 4 .4
-
2 .3
1 6 .2
- 0 .4
2.6
- 1 6 .0
4 .4
0.0
1.6
2 .4
-0 .9
- 5 .2
- 1 .4
1.8
- 0.2
23
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ........................................................................
-
3 .1
- 6 .5
20
21
22
L e s s : O w n - a c c o u n t i n v e s t m e n t 4.................................................................................
V a l u e a d d e d ................
18
0 .7
S e r v i c e s ...................
-0 .3
- 5 .3
IV
2.5
D u r a b l e g o o d s ................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3.....................................................................................................
III
-0.5
0.6
- 2 9 .8
.1
2.1
^ t
1 9 5 .8
1 .9
1 .7
- 6 .9
21.6
2 9 .8
2 2 .7
7 .1
- 5 3 .5
- 1 2 .9
3 2 .4
2.8
4 .1
-4 6 .2
-8 2 .5
8.1
-5.0
6.5
-9.1
4 .7
- 4 .9
6 .7
- 9 .8
1.2
2.1
1.1
0.8
2 .4
-
2 .4
-2 .4
2 .9
3 .3
3 .0
2.6
1.6
2 .7
39
1 .7
2 .9
5 .0
1 3 .6
- 1 2 .9
1 3 .0
- 2 0 .3
D u r a b l e g o o d s .......................
40
11.8
4 .1
3 .1
1 7 .8
- 1 1 .7
1.1
- 1 4 .6
N o n d u r a b l e g o o d s ..............
41
2.0
1 0 .9
- 1 5 .0
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
C o m m o d i t y C r e d i t C o r p o r a t i o n i n v e n to r y c h a n g e .........................................................................................
42
O t h e r n o n d u r a b l e g o o d s ...................................!............... ’ ............................................................................................
43
S e r v i c e s .................................................................................................................................................................................................
44
2.2
0.8
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
45
4 .3
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
46
4 8 .1
-
3 .3
0.2
0.6
2 .9
- 1 9 .7
7 1 .8
-
1 5 .5
- 1 8 .9
6 .3
1 4 .9
- 1 3 .1
1 4 .9
12.6
- 7 4 .5
2.8
-4 .9
- 2 1 .5
1 1 .4
- 4 .4
1 6 .9
- 4 6 .2
47
0.9
1.8
1.7
2.1
3.1
3.3
1 .9
1 .3
1 .9
2 .3
2 .9
3 .2
1.1
0 .7
50
0 .9
0 .5
0.6
0.1
1.2
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
0 .9
2.1
1.8
2.1
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
51
3 .2
3 .3
3 .9
4 .4
52
4 .2
4 .1
4 .4
4 .6
53
1 .7
2.1
2.0
2.2
1.8
4 .0
3............................................................................................................
1.0
1.0
0.8
2.6
1.0
2.2
2.8
2.2
3 .1
1 .3
3 .0
1 .3
4 .1
4 .1
4 .0
4 .2
2.8
4 .4
4 .1
4 .8
5 .0
State and local consumption expenditures 1
G ro s s o u tp u t o f g e n e r a l g o v e i n m e n t
48
V a l u e a d d e d ..................................
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
49
D u r a b l e g o o d s .......................
N o n d u ra b le g o o d s ..
S e r v i c e s ......................................
54
55
L ess: O w n -a c c o u n t in v e s tm e n t4
S a le s to o th e r s e c to r s
0 .9
3 .3
3 .5
1.0
2 .3
6.6
56
1.8
5 .0
5 .3
7 .0
1 0 .4
- 1 .9
57
1 .5
2.1
2.2
2 .4
2 .4
2 .5
2 .4
4 .6
2 .4
2 .4
2 .4
1 .5
0.1
2.1
2.0
2.0
2 .4
2 .4
2 .4
2.8
3 .8
2 .4
2 .5
2 .4
2 .7
T u itio n a n d r e l a t e d e d u c a t i o n a l c h a r g e s .........................................................................................................
58
H e a l t h a n d h o s p i t a l c h a r g e s .....................................................................................................................................
59
0.1
0.8
O t h e r s a l e s .............................................................................................................................................................................
60
4 .0
-
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
National Data
March 2007
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Government consumption expenditures 1..........................................................................
2006
I
II
III
IV
1
2
113.564
115.495
116.522
1 1 3 .3 8 2
1 1 5 .3 0 5
1 1 3 .6 1 8
1 1 4 .7 1 2
1 1 4 .7 5 6
1 1 5 .4 3 1
1 1 6 .3 2 1
V a l u e a d d e d ........................................................................................................................................................................................
3
1 0 6 .6 6 6
1 0 7 .3 9 0
1 0 6 .9 8 2
1 0 6 .7 9 5
1 0 7 .0 1 4
1 0 7 .6 5 9
1 0 8 .0 9 3
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ......................................................................................
4
1 0 5 .6 3 3
1 0 5 .9 6 0
1 0 5 .8 4 4
1 0 5 .4 7 5
1 0 5 .6 0 1
1 0 6 .2 0 6
1 0 6 .5 5 8
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2...................................................................................
5
1 1 2 .8 8 5
1 1 6 .0 9 9
1 1 3 .8 6 3
1 1 4 .8 1 2
1 1 5 .6 2 1
1 1 6 .5 0 6
1 1 7 .4 5 8
6
1 2 5 .9 5 8
1 3 0 .1 3 0
1 2 6 .0 5 4
1 2 9 .5 4 0
1 2 9 .2 5 6
1 2 9 .9 8 9
1 3 1 .7 3 6
D u r a b l e g o o d s ............................................................................................................................................................................
7
1 2 1 .9 5 7
1 2 7 .1 0 3
1 2 5 .4 5 3
1 2 3 .7 7 7
1 2 3 .7 6 7
1 2 8 .5 0 1
1 3 2 .3 6 6
N o n d u r a b l e g o o d s ..................................................................................................................................................................
8
1 1 8 .5 8 2
1 2 0 .3 9 0
1 1 8 .9 6 4
1 2 0 .0 8 7
1 1 9 .9 7 1
1 2 1 .2 3 8
1 2 0 .2 6 5
9
1 2 8 .9 3 4
1 3 3 .9 5 0
1 2 8 .5 6 8
1 3 3 .5 0 7
1 3 3 .1 2 8
1 3 3 .2 5 0
1 3 5 .9 1 3
10
11
12
1 0 8 .7 8 7
1 1 3 .3 7 7
1 1 0 .2 4 2
1 1 1 .2 4 3
1 1 3 .6 3 2
1 1 3 .6 1 5
1 1 5 .0 1 8
1 1 2 .6 2 3
1 1 4 .6 9 4
1 1 3 .3 9 1
1 1 3 .6 7 6
1 1 4 .6 9 7
1 1 5 .2 0 3
1 1 5 .2 0 1
123.952
126.577
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ...................................................................................................................................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3.....................................................................................................
S e r v i c e s ...........................................................................................................................................................................................
L e s s : O w n - a c c o u n t i n v e s t m e n t 4............................................................................................................................................
S a l e s t o o t h e r s e c t o r s ....................................................................................................................................................
Federal consumption expenditures 1...............................................................................................
115.432
113.700
114.925
114.784
124.339
126.061
125.156
125.614
126.896
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
13
1 2 4 .0 7 9
1 2 5 .6 6 6
1 2 3 .7 3 6
1 2 6 .1 6 0
1 2 4 .9 2 5
1 2 5 .3 1 7
1 2 6 .2 6 1
V a l u e a d d e d ..............................................................................................................................................................................................
14
1 0 6 .9 4 7
1 0 6 .5 7 9
1 0 7 .1 2 1
1 0 6 .1 6 7
1 0 6 .1 4 8
1 0 6 .9 9 7
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s .............................................................................................
15
1 0 6 .9 2 8
1 0 5 .7 4 8
1 0 6 .8 6 7
1 0 5 .4 6 5
1 0 5 .2 7 4
1 0 6 .1 9 6
1 0 6 .0 5 5
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
16
1 0 7 .2 7 7
1 0 9 .9 2 7
1 0 8 .3 2 0
1 0 9 .0 2 8
1 0 9 .6 5 9
1 1 0 .2 3 8
1 1 0 .7 8 1
1 6 0 .6 1 1
1 5 7 .1 7 3
1 5 6 .7 3 2
1 0 7 .0 0 2
3............................................................................................................
17
1 5 3 .3 5 3
1 5 8 .4 7 0
1 5 2 .0 8 8
D u r a b l e g o o d s ....................................................................................................................................................................................
18
1 3 2 .1 8 8
1 3 9 .7 3 6
1 3 8 .1 3 2
1 3 4 .4 7 6
1 3 3 .7 8 2
1 4 2 .1 0 7
1 4 8 .5 7 8
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
19
1 4 9 .5 8 5
1 3 9 .8 5 6
1 4 8 .9 3 3
1 4 9 .7 3 6
1 4 0 .5 9 1
1 4 2 .6 1 5
1 2 6 .4 8 1
S e r v i c e s ..................................................................................................................................................................................................
20
21
22
1 5 7 .1 0 3
23
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
Defense consumption expenditures 1.....................................................................................
1 5 9 .3 6 2
1 6 3 .9 5 6
1 5 4 .7 2 0
1 6 6 .0 2 8
1 6 3 .0 1 5
1 6 1 .0 1 1
1 6 5 .7 7 0
1 1 5 .4 3 5
1 1 6 .5 7 8
1 1 7 .6 9 9
1 1 5 .0 0 7
1 1 5 .7 1 7
1 1 7 .9 8 0
1 1 7 .6 0 9
1 1 0 .0 8 1
1 0 1 .4 1 8
1 1 1 .9 3 7
1 0 1 .2 3 5
1 1 4 .0 2 0
1 0 8 .1 0 3
8 2 .3 1 5
128.551
130.044
127.544
130.343
128.981
128.681
132.171
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
24
1 2 8 .6 1 9
1 3 0 .2 0 2
1 2 7 .4 4 6
1 3 0 .4 6 0
1 2 9 .3 6 6
1 2 8 .9 2 1
V a l u e a d d e d ..............................................................................................................................................................................................
25
1 0 8 .0 4 8
1 0 7 .3 0 0
1 0 8 .2 0 6
1 0 6 .9 0 3
1 0 6 .7 0 7
1 0 7 .6 7 4
1 0 7 .9 1 7
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
26
1 0 9 .3 8 9
1 0 7 .6 0 8
1 0 9 .2 7 7
1 0 7 .3 3 6
1 0 6 .8 9 5
1 0 8 .0 1 4
1 0 8 .1 8 6
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
27
1 0 5 .8 3 8
1 0 7 .9 9 8
1 3 2 .0 5 9
1 0 4 .8 5 8
1 0 7 .2 5 7
1 0 7 .0 2 4
1 0 7 .5 3 9
3............................................................................................................
28
1 6 3 .0 9 4
1 6 8 .8 4 1
1 5 9 .5 7 4
1 7 0 .2 7 5
1 6 7 .5 8 7
1 6 4 .6 3 0
1 7 2 .8 7 1
D u r a b l e g o o d s ...................................................................................................................................................................................
29
1 2 9 .8 1 2
1 3 7 .3 8 7
1 3 5 .7 9 9
1 3 1 .4 1 2
1 3 1 .0 4 0
1 3 9 .8 8 1
1 4 7 .2 1 6
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
30
1 4 1 .1 4 9
1 2 4 .7 2 8
1 3 8 .1 9 7
1 2 8 .4 9 7
1 0 6 .1 1 4
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
1 0 6 .4 6 7
1 3 7 .9 8 6
1 2 6 .3 1 3
S e r v i c e s ..................................................................................................................................................................................................
31
1 7 3 .1 8 9
1 8 1 .6 5 6
1 6 7 .6 1 4
1 8 2 .9 9 4
1 8 1 .0 7 7
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
1 7 4 .9 1 3
32
1 4 3 .6 7 8
1 4 5 .7 9 5
1 4 5 .6 8 1
1 4 4 .2 4 5
1 4 5 .0 0 7
1 4 6 .4 5 5
1 4 7 .4 7 4
S a l e s t o o t h e r s e c t o r s ...........................................................................................................................................................
33
1 3 1 .5 8 0
1 4 8 .8 9 8
100.221
1 4 3 .1 3 5
1 8 7 .7 0 7
1 6 0 .7 7 5
1 0 3 .9 7 3
Nondefense consumption expenditures 1...............................................................................
34
116.593
118.747
117.362
119.666
118.137
120.006
117.179
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
35
1 1 5 .9 7 4
1 1 7 .5 7 5
1 1 7 .1 4 0
1 1 8 .4 9 5
1 1 7 .0 0 4
1 1 8 .9 1 4
1 1 5 .8 8 6
V a l u e a d d e d ..............................................................................................................................................................................................
36
1 0 4 .9 9 8
1 0 5 .3 1 1
1 0 5 .2 0 0
1 0 4 .8 7 4
1 0 5 .1 7 3
1 0 5 .8 1 0
1 0 5 .3 8 7
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
37
1 0 3 .1 6 5
1 0 2 .9 3 5
1 0 3 .1 8 4
1 0 2 .6 3 5
1 0 2 .8 3 8
1 0 3 .4 5 1
1 0 2 .8 1 7
1 1 7 .8 7 5
1 1 8 .6 6 8
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
1 8 7 .6 4 1
38
1 1 4 .0 9 7
1 1 7 .4 7 8
1 1 5 .3 2 2
1 1 6 .2 6 0
1 1 7 .1 1 1
3............................................................................................................
39
1 3 5 .3 5 2
1 3 9 .3 1 3
1 3 8 .2 9 7
1 4 2 .7 7 0
1 3 7 .9 2 9
1 4 2 .2 0 1
1 3 4 .3 5 4
D u r a b l e g o o d s ....................................................................................................................................................................................
40
1 6 3 .7 6 0
1 7 0 .5 4 7
1 6 8 .9 8 7
1 7 6 .0 3 5
1 7 0 .6 2 8
1 7 1 .0 8 2
1 6 4 .4 4 2
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
41
C o m m o d i t y C r e d i t C o r p o r a t i o n in v e n t o r y c h a n g e .........................................................................................
4?
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
O t h e r n o n d u r a b l e g o o d s ....................................................................................................................................................
43
1 8 2 .5 3 1
1 7 8 .9 6 2
1 7 9 .9 2 3
1 8 6 .5 3 0
1 7 7 .0 2 4
1 7 9 .7 2 9
1 7 2 .5 6 5
S e r v i c e s ..................................................................................................................................................................................................
44
1 3 1 .0 0 1
1 3 5 .2 6 0
1 3 3 .7 8 8
1 3 8 .5 1 1
1 3 3 .7 2 8
1 3 8 .4 5 7
1 3 0 .3 4 4
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
45
1 0 0 .2 8 5
1 0 0 .8 9 2
1 0 2 .6 9 9
9 9 .3 0 1
9 9 .9 8 6
1 0 2 .7 1 3
1 0 1 .5 6 7
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
46
1 0 1 .3 1 2
8 1 .3 2 8
1 1 7 .5 5 8
8 3 .5 5 8
8 2 .5 0 7
8 5 .7 8 3
7 3 .4 6 3
State and local consumption expenditures 1..................................................................................
47
107.655
109.602
108.074
108.536
109.095
109.944
110.833
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
48
1 0 8 .6 2 5
1 1 0 .6 9 8
1 0 9 .1 1 6
1 0 9 .6 2 2
1 1 0 .2 3 4
1 1 1 .0 3 4
1 1 1 .9 0 1
V a l u e a d d e d ..............................................................................................................................................................................................
49
1 0 7 .0 6 5
1 0 5 .4 9 9
1 0 7 .9 4 4
1 0 6 .0 6 2
1 0 6 .9 1 5
1 0 5 .4 6 8
1 0 7 .3 8 9
50
1 0 6 .5 3 6
1 0 5 .1 5 2
1 0 7 .7 4 1
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
1 0 5 .7 4 8
1 0 6 .2 3 1
1 0 8 .5 6 5
1 0 6 .7 7 2
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
51
1 1 8 .2 1 5
1 2 1 .9 3 9
1 1 9 .1 3 7
1 2 0 .3 0 3
1 2 1 .2 7 2
3............................................................................................................
1 2 2 .4 3 3
1 2 3 .7 4 8
52
1 1 2 .6 5 2
1 1 6 .3 5 5
1 1 3 .3 5 4
1 1 4 .5 2 8
1 1 5 .6 7 8
1 1 6 .9 4 0
D u r a b l e g o o d s ...................................................................................................................................................................................
53
1 0 9 .9 2 4
1 1 2 .2 7 6
1 1 0 .5 7 6
1 1 1 .1 7 7
1 1 1 .9 5 3
1 1 2 .5 5 3
1 1 3 .4 2 2
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
54
1 1 4 .0 8 0
1 1 7 .5 4 5
1 1 4 .6 0 8
1 1 5 .7 7 6
1 1 6 .9 5 5
1 1 8 .1 1 2
1 1 9 .3 3 7
S e r v i c e s ..................................................................................................................................................................................................
55
1 1 2 .1 3 9
1 1 6 .0 7 7
1 1 2 .9 4 5
1 1 4 .1 6 3
1 1 5 .3 2 3
1 1 8 .1 2 4
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
1 1 6 .6 9 6
56
1 0 7 .3 9 8
1 1 2 .7 8 6
1 0 8 .6 7 0
1 1 0 .5 1 9
1 1 3 .2 9 8
1 1 2 .7 5 8
1 1 4 .5 6 8
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
57
1 1 2 .7 3 7
1 1 5 .1 1 6
1 1 3 .4 7 4
1 1 4 .0 7 7
1 1 4 .7 6 8
1 1 5 .4 5 3
1 1 6 .1 6 7
T u itio n a n d r e l a t e d e d u c a t i o n a l c h a r g e s .........................................................................................................
58
1 0 5 .5 3 7
1 0 8 .0 3 3
1 0 6 .5 3 3
1 0 7 .0 6 5
1 0 7 .7 0 9
1 0 8 .3 5 4
1 0 9 .0 0 4
H e a l t h a n d h o s p i t a l c h a r g e s .....................................................................................................................................
59
1 1 3 .9 8 5
1 1 5 .7 4 8
1 1 4 .1 4 0
1 1 4 .7 1 1
1 1 5 .3 9 9
1 1 6 .0 9 2
1 1 6 .7 8 9
O t h e r s a l e s .............................................................................................................................................................................
60
1 1 6 .2 0 8
1 1 9 .4 7 9
1 1 7 .6 7 2
1 1 8 .3 8 1
1 1 9 .1 1 2
1 1 9 .8 1 7
1 2 0 .6 0 6
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
1 1 8 .2 7 2
1 . G o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s a r e s e r v i c e s ( s u c h a s e d u c a tio n a n d n a tio n a l d e f e n s e ) p r o d u c e d by g o v e r n m e n t th a t a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d
g o v e r n m e n t o w n - a c c o u n t in v e s tm e n t (c o n s tr u c tio n a n d s o f tw a r e ).
2 . C o n s u m p tio n o f fix ed c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e o f th e s e r v i c e s o f g e n e r a l g o v e r n m e n t fix e d a s s e t s ; t h e u s e o f d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n
th e s e a s s e ts .
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts fo r g o o d s a n d s e r v i c e s s o ld to o th e r s e c t o r s a n d for o w n - a c c o u n t in v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d r e la te d e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s if i e d a s in v e s tm e n t in s tr u c t u r e s a n d in s o f t
w a r e in ta b le 3 . 9 . 5 .
March 2007
D-27
S u r v e y o f 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, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
122.768
128.134
125.034
IV
Government consumption expenditures 1..........................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ...................................................................................................................................
1
2
1 2 2 .7 6 0
2006
I
126.480
II
128.065
1 2 7 .9 0 5
III
IV
128.869
129.121
1 2 8 .8 0 9
1 2 9 .1 9 4
1 2 8 .0 7 8
1 2 5 .0 3 1
1 2 6 .4 0 2
V a l u e a d d e d ........................................................................................................................................................................................
3
1 2 4 .7 1 8
1 2 9 .7 6 8
1 2 6 .2 3 7
1 2 8 .1 7 0
1 2 9 .1 8 2
1 3 0 .3 3 8
1 3 1 .3 8 0
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ......................................................................................
4
1 2 7 .4 2 5
1 3 2 .6 0 6
1 2 8 .8 8 1
1 3 0 .9 9 5
1 3 2 .0 4 2
1 3 3 .2 0 3
1 3 4 .1 8 4
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2...................................................................................
b
1 1 5 .0 8 5
1 1 6 .4 2 3
1 1 0 .2 9 2
1 1 4 .6 5 2
112.121
1 1 3 .1 3 4
1 1 3 .9 6 5
6
1 1 9 .3 2 0
1 2 5 .0 3 0
1 2 2 .7 2 8
1 2 3 .2 4 5
1 2 5 .4 7 5
1 2 5 .9 9 8
1 2 5 .4 0 3
D u r a b l e g o o d s ...........................................................................................................................................................................
7
1 0 4 .1 6 1
1 0 6 .2 5 5
1 0 4 .5 8 7
1 0 5 .1 1 3
1 0 6 .0 4 4
1 0 6 .6 4 2
1 0 7 .2 2 2
N o n d u r a b l e g o o d s ..................................................................................................................................................................
8
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3.....................................................................................................
S e r v i c e s ...........................................................................................................................................................................................
L e s s : O w n - a c c o u n t i n v e s t m e n t 4............................................................................................................................................
S a l e s t o o t h e r s e c t o r s ....................................................................................................................................................
Federal consumption expenditures 1...............................................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
1 4 0 .6 5 3
1 3 8 .5 8 9
1 3 6 .6 2 7
1 4 4 .2 4 4
1 4 3 .3 3 7
1 3 8 .4 0 5
9
1 1 7 .3 2 3
1 2 1 .9 2 4
1 1 9 .4 6 9
1 2 0 .8 0 0
1 2 1 .4 1 6
1 2 2 .3 9 8
1 2 3 .0 8 1
10
11
12
1 1 9 .2 2 7
1 2 4 .0 7 9
1 2 0 .9 6 2
1 2 2 .4 7 0
1 2 3 .7 2 3
1 2 4 .7 1 4
1 2 5 .4 0 9
13
1 3 0 .4 0 8
1 2 2 .9 7 0
1 2 8 .0 1 4
1 2 5 .3 1 0
1 2 6 .1 9 6
1 2 7 .2 1 1
1 2 8 .7 2 6
1 2 9 .9 2 3
123.792
128.378
124.594
127.152
128.391
129.007
128.961
1 2 3 .7 6 1
1 2 8 .3 0 3
1 2 4 .6 4 0
1 2 7 .0 8 3
1 2 8 .3 1 2
1 2 8 .9 2 7
1 2 8 .8 9 0
V a l u e a d d e d ..............................................................................................................................................................................................
14
1 2 9 .4 7 9
1 3 4 .3 5 7
1 2 9 .7 8 2
1 3 3 .7 6 3
1 3 4 .3 9 0
1 3 4 .5 7 9
1 3 4 .6 9 4
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
15
1 3 7 .4 1 6
1 4 2 .9 2 9
1 3 7 .5 4 0
1 4 2 .5 1 9
1 4 3 .1 0 2
1 4 3 .0 3 8
1 4 3 .0 5 8
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
16
1 0 6 .4 8 0
1 0 9 .5 5 0
1 0 7 .2 9 5
1 0 8 .4 5 6
1 0 9 .1 9 9
1 1 0 .0 8 5
1 1 0 .4 6 0
3............................................................................................................
1/
1 1 6 .1 4 5
1 2 0 .2 7 5
1 1 7 .6 7 3
1 1 8 .3 8 4
1 2 0 .2 5 4
1 2 1 .3 3 3
D u r a b l e g o o d s ...................................................................................................................................................................................
18
102.688
1 0 4 .2 5 3
1 0 2 .7 8 0
1 0 3 .0 9 8
1 0 4 .1 3 1
1 0 4 .6 5 0
1 0 5 .1 3 4
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
19
1 2 7 .2 5 3
1 3 6 .2 6 8
1 3 3 .5 8 4
1 3 1 .5 2 6
1 3 9 .0 5 8
1 3 9 .9 6 1
1 3 4 .5 2 5
S e r v i c e s .................................................................................................................................................................................................
20
21
22
1 1 6 .6 9 1
1 2 0 .5 9 6
1 1 7 .8 4 8
1 1 8 .9 3 5
1 2 0 .2 8 9
1 2 1 .4 6 1
1 2 1 .7 0 1
1 2 4 .9 4 6
1 2 9 .6 9 2
1 2 5 .6 2 6
1 2 8 .4 6 0
1 2 9 .5 9 6
1 3 0 .0 4 7
1 3 0 .6 6 7
1 1 8 .9 2 8
1 1 9 .1 9 1
1 2 6 .3 4 6
1 1 8 .4 5 9
1 1 8 .8 9 9
1 1 9 .4 8 3
1 1 9 .9 2 4
Defense consumption expenditures 1.....................................................................................
23
125.071
129.642
126.061
128.327
129.681
130.375
130.186
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
24
1 2 5 .0 6 3
1 2 9 .6 1 4
1 2 6 .0 4 4
1 2 8 .3 0 0
1 2 9 .6 4 9
1 3 0 .3 4 3
1 3 0 .1 6 4
V a l u e a d d e d ..............................................................................................................................................................................................
25
1 3 1 .6 7 1
1 3 6 .4 3 0
1 3 2 .0 0 9
1 3 5 .8 9 4
1 3 6 .3 8 8
1 3 6 .6 8 6
1 3 6 .7 5 1
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
26
2!
1 4 1 .7 1 3
1 4 7 .0 4 5
1 4 1 .8 4 4
1 4 6 .7 9 6
1 4 7 .1 7 3
1 4 7 .1 2 0
1 4 7 .0 9 0
1 0 7 .6 2 3
1 1 1 .0 1 4
1 0 8 .4 5 6
1 0 9 .8 1 8
1 1 0 .5 8 1
111.688
1 1 1 .9 7 0
28
1 1 6 .7 2 7
1 2 1 .0 0 4
1 1 8 .3 8 2
1 1 8 .9 2 3
121.112
1 2 2 .2 0 4
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3............................................................................................................
1 2 1 .1 2 7
1 2 1 .7 7 8
D u r a b l e g o o d s ...................................................................................................................................................................................
29
1 0 3 .7 2 8
1 0 5 .5 8 2
1 0 3 .8 9 6
1 0 4 .2 8 8
1 0 5 .4 2 1
1 0 6 .0 1 5
1 0 6 .6 0 3
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
30
1 3 7 .7 5 8
1 5 1 .9 7 0
1 4 8 .6 5 8
1 4 4 .1 6 2
1 5 6 .9 0 4
1 5 8 .7 3 9
1 4 8 .0 7 4
S e r v i c e s .................................................................................................................................................................................................
31
1 1 7 .3 8 6
1 2 1 .2 3 6
1 1 8 .4 9 0
1 1 9 .5 0 5
121.022
1 2 2 .1 4 4
1 2 2 .2 7 4
L e s s : O w n - a c c o u n t i n v e s t m e n t 4..................................................................................................................................................
32
1 2 6 .1 2 7
1 3 1 .6 0 9
1 2 7 .1 1 9
1 3 0 .0 9 7
1 3 1 .6 0 2
1 3 1 .9 8 7
1 3 2 .7 4 9
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
33
1 2 2 .6 6 1
1 2 3 .1 4 3
1 2 1 .9 7 6
1 2 2 .0 0 8
1 2 2 .6 9 9
1 2 3 .5 7 3
1 2 4 .2 9 2
Nondefense consumption expenditures 1...............................................................................
34
121.381
125.995
121.810
124.944
125.958
126.422
126.658
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
35
1 2 1 .3 5 1
1 2 5 .8 7 7
1 2 2 .0 3 5
1 2 4 .8 3 8
1 2 5 .8 3 6
1 2 6 .2 9 8
1 2 6 .5 3 7
V a l u e a d d e d ..............................................................................................................................................................................................
36
1 2 5 .6 8 5
1 3 0 .7 7 4
1 2 5 .9 2 9
1 3 0 .0 8 0
1 3 0 .9 3 7
1 3 0 .9 3 7
1 3 1 .1 4 1
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
37
1 3 0 .9 4 7
1 3 6 .7 4 4
1 3 1 .0 5 9
1 3 6 .0 8 8
1 3 6 .9 8 5
1 3 6 .9 0 4
1 3 7 .0 0 1
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
38
1 0 3 .5 1 8
1 0 5 .7 5 5
1 0 4 .2 8 5
1 0 4 .9 2 4
1 0 5 .6 1 6
1 0 5 .9 3 2
1 0 6 .5 4 9
3............................................................................................................
39
1 1 4 .9 8 1
1 1 8 .7 7 9
1 1 6 .2 3 2
1 1 7 .3 0 5
1 1 8 .4 7 6
1 1 9 .5 2 6
1 1 9 .8 0 9
D u r a b l e g o o d s ...................................................................................................................................................................................
40
9 1 .3 0 3
8 9 .9 8 4
9 0 .6 2 0
9 0 .2 1 4
9 0 .2 8 0
9 0 .0 4 0
8 9 .4 0 0
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
41
4?
1 1 5 .9 5 3
1 2 0 .1 3 2
1 1 9 .6 3 2
O t h e r n o n d u r a b l e g o o d s ....................................................................................................................................................
43
1 1 9 .4 4 6
1 1 7 .3 7 1
1 1 7 .8 4 4
1 2 0 .1 7 5
S e r v i c e s .................................................................................................................................................................................................
44
1 1 5 .6 3 1
1 1 9 .6 5 5
1 1 6 .8 9 9
1 1 8 .1 3 8
1 1 9 .1 4 8
1 2 0 .4 3 0
1 2 0 .9 0 6
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
45
1 2 3 .8 9 7
1 2 8 .0 6 7
1 2 4 .3 3 6
1 2 7 .0 5 5
1 2 7 .9 0 1
1 2 8 .4 0 2
1 2 8 .9 1 2
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
46
1 1 6 .6 8 1
1 1 7 .3 3 4
1 2 7 .8 4 4
1 1 6 .9 2 1
1 1 7 .1 5 9
1 1 7 .5 0 1
1 1 7 .7 5 6
State and local consumption expenditures 1..................................................................................
47
122.177
128.035
125.365
126.112
127.916
128.838
129.275
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
48
1 2 2 .2 9 3
1 2 8 .0 0 2
1 2 5 .2 6 7
1 2 6 .0 9 7
1 2 7 .7 4 0
1 2 8 .7 8 8
1 2 9 .3 8 3
V a l u e a d d e d ..............................................................................................................................................................................................
49
1 2 2 .7 3 5
1 2 7 .8 5 7
1 2 4 .7 6 4
1 2 5 .8 4 4
1 2 7 .0 1 5
1 2 8 .5 7 2
1 2 9 .9 9 7
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
50
1 2 3 .9 1 3
1 2 8 .9 7 7
1 2 5 .8 4 1
1 2 6 .9 4 8
1 2 8 .1 5 7
1 2 9 .7 4 5
1 3 1 .0 5 9
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
51
1 1 3 .6 8 4
1 1 9 .1 7 0
1 1 6 .3 9 9
1 1 7 .2 8 5
1 1 8 .1 9 2
1 1 9 .5 1 7
121.688
3............................................................................................................
62
1 2 1 .4 1 9
1 2 8 .1 8 8
1 2 6 .0 8 0
1 2 6 .4 6 8
1 2 8 .9 3 9
1 2 9 .0 9 7
D u r a b l e g o o d s ...................................................................................................................................................................................
53
1 0 6 .0 7 2
1 0 8 .9 4 2
1 0 6 .9 8 6
1 0 7 .8 1 6
1 0 8 .6 0 0
1 0 9 .3 1 3
1 1 0 .0 3 8
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
54
1 3 0 .8 7 0
1 4 1 .3 5 9
1 3 9 .4 0 7
1 3 7 .4 6 6
1 4 5 .0 9 3
1 4 3 .8 5 9
1 3 9 .0 1 9
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
1 2 8 .2 4 8
S e r v i c e s .................................................................................................................................................................................................
55
1 1 7 .8 1 7
1 2 2 .9 9 5
1 2 0 .7 9 7
1 2 2 .3 3 3
1 2 2 .3 1 7
1 2 3 .1 3 9
1 2 4 .1 9 0
L e s s : O w n - a c c o u n t i n v e s t m e n t 4..................................................................................................................................................
56
1 1 7 .8 2 6
1 2 2 .7 0 0
1 1 9 .8 0 8
1 2 1 .0 0 8
1 2 2 .2 8 7
1 2 3 .3 9 8
1 2 4 .1 0 9
S a l e s t o o t h e r s e c t o r s ...........................................................................................................................................................
57
1 2 3 .0 4 7
1 2 8 .2 1 9
1 2 5 .2 3 6
1 2 6 .3 7 2
1 2 7 .4 0 2
1 2 8 .9 4 4
1 3 0 .1 5 9
T u itio n a n d r e l a t e d e d u c a t i o n a l c h a r g e s .........................................................................................................
58
1 4 3 .1 8 6
1 5 2 .8 0 9
1 4 6 .4 0 3
1 4 8 .8 3 8
1 5 1 .4 9 2
1 5 4 .2 3 8
1 5 6 .6 7 0
H e a l t h a n d h o s p i t a l c h a r g e s .....................................................................................................................................
59
1 2 1 .4 4 3
1 2 5 .8 3 5
1 2 3 .5 9 3
1 2 4 .3 9 4
1 2 5 .1 4 2
1 2 6 .4 4 1
1 2 7 .3 6 2
O t h e r s a l e s .............................................................................................................................................................................
60
1 1 3 .0 6 6
1 1 6 .7 9 7
1 1 4 .7 0 3
1 1 5 .5 8 0
1 1 6 .0 9 0
1 1 7 .2 8 8
1 1 8 .2 3 1
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
National Data
March 2007
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
IV
1
2
Government consumption expenditures 1..........................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ...................................................................................................................................
I
II
III
IV
1,975.7
2,096.0
2,014.5
2,059.7
2,083.0
2,109.1
2,132.0
2 ,3 1 3 .8
2 ,4 5 5 .0
2 ,3 6 1 .4
2 ,4 1 0 .3
2 ,4 3 9 .9
2 ,4 7 1 .6
2 ,4 9 8 .1
V a l u e a d d e d ........................................................................................................................................................................................
3
1 ,4 2 2 .9
1 ,4 9 0 .6
1 ,4 4 4 .5
1 ,4 6 4 .0
1 ,4 7 8 .6
1 ,5 0 0 .8
1 ,5 1 8 .9
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ......................................................................................
4
1 ,2 1 5 .7
1 ,2 6 9 .1
1 ,2 3 2 .1
1 ,2 4 7 .9
1 ,2 5 9 .4
1 ,2 7 7 .8
1 ,2 9 1 .4
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2...................................................................................
5
2 0 7 .2
2 2 1 .5
2 1 2 .4
2 1 6 .1
2 1 9 .2
2 2 3 .1
2 2 7 .5
6
8 9 0 .9
9 6 4 .4
9 1 7 .0
9 4 6 .3
9 6 1 .3
9 7 0 .8
9 7 9 .2
5 6 .0
5 9 .6
5 7 .8
5 7 .4
5 7 .9
6 0 .4
6 2 .6
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3.....................................................................................................
D u r a b l e g o o d s ............................................................................................................................................................................
7
N o n d u r a b l e g o o d s ..................................................................................................................................................................
8
2 2 4 .7
2 4 6 .0
2 3 9 .5
2 3 8 .4
2 5 1 .4
2 5 2 .5
2 4 1 .8
S e r v i c e s ...........................................................................................................................................................................................
9
6 1 0 .2
6 5 8 .8
6 1 9 .6
6 5 0 .5
6 5 2 .0
6 5 7 .9
6 7 4 .8
10
11
12
2 3 .5
2 5 .5
2 5 .4
2 5 .6
3 1 4 .6
3 3 3 .6
3 2 2 .8
3 2 5 .9
3 3 1 .5
3 3 6 .9
3 4 0 .0
768.6
808.0
771.1
803.6
802.3
809.1
817.1
L e s s : O w n - a c c o u n t i n v e s t m e n t 4............................................................................................................................................
S a l e s t o o t h e r s e c t o r s ....................................................................................................................................................
Federal consumption expenditures 1...............................................................................................
2 4 .1
2 4 .7
2 6 .1
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
13
7 8 1 .9
8 2 0 .9
7 8 5 .2
8 1 6 .3
8 1 6 .1
8 2 2 .6
8 2 8 .6
V a l u e a d d e d ..............................................................................................................................................................................................
14
4 3 6 .7
4 5 1 .6
4 3 8 .4
4 4 7 .9
4 4 9 .9
4 5 4 .1
4 5 4 .5
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
15
3 4 3 .5
3 5 3 .3
3 4 3 .6
3 5 1 .4
3 5 2 .2
3 5 5 .1
3 5 4 .7
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
16
9 3 .2
9 8 .3
9 4 .8
9 6 .5
9 7 .7
9 9 .0
9 9 .9
3............................................................................................................
1/
3 4 5 .2
3 6 9 .3
3 4 6 .8
3 6 8 .5
3 6 6 .3
3 6 8 .5
3 7 4 .1
D u r a b l e g o o d s ...................................................................................................................................................................................
18
3 2 .6
3 5 .0
3 4 .1
3 3 .3
3 3 .5
3 5 .7
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
19
S e r v i c e s ..................................................................................................................................................................................................
20
21
22
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
3 7 .5
3 6 .0
3 6 .0
3 7 .6
3 7 .3
3 7 .0
3 7 .8
3 2 .2
2 7 6 .6
2 9 8 .3
2 7 5 .1
2 9 7 .9
2 9 5 .8
2 9 5 .0
3 0 4 .3
4 .7
4 .9
4 .8
4 .8
4 .8
5 .0
5 .0
8 .7
8.0
9 .4
7 .9
9 .0
8.6
6 .5
Defense consumption expenditures 1.....................................................................................
23
516.9
542.0
516.9
537.7
537.7
539.3
553.2
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
24
5 2 2 .1
5 4 7 .7
5 2 1 .4
5 4 3 .2
5 4 4 .4
5 4 5 .4
5 5 7 .9
V a l u e a d d e d ..............................................................................................................................................................................................
25
2 8 3 .4
2 9 1 .6
2 8 4 .5
2 8 9 .3
2 8 9 .9
2 9 3 .1
2 9 3 .9
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
26
2 1 5 .4
2 1 9 .9
2 1 5 .4
2 1 8 .9
2 1 8 .6
220.8
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
27
7 1 .7
6 9 .1
7 0 .4
7 1 .3
7 2 .3
7 2 .8
3............................................................................................................
28
2 5 6 .2
2 3 6 .9
2 5 3 .9
2 5 4 .5
2 5 2 .3
2 6 4 .0
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
68.0
2 3 8 .7
D u r a b l e g o o d s ....................................................................................................................................................................................
29
3 1 .4
3 0 .5
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
30
2 0 .3
1 9 .7
2 1 .3
S e r v i c e s ..................................................................................................................................................................................................
31
1 8 8 .5
2 0 4 .2
1 8 4 .1
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
32
2.1
2.2
2.1
20.6
202.8
2.1
S a l e s t o o t h e r s e c t o r s ...........................................................................................................................................................
33
3 .1
3 .6
2 .4
3 0 .0
3 2 .3
3 .4
3 0 .8
20.6
2 0 3 .2
3 3 .0
21.2
1 9 8 .1
221.1
3 4 .9
1 6 .3
2 1 2 .7
2.2
2.2
2.2
4 .5
3 .9
2 .5
Nondefense consumption expenditures 1...............................................................................
34
251.7
266.0
254.2
265.9
264.6
269.8
263.9
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
35
2 5 9 .8
2 7 3 .2
2 6 3 .9
2 7 3 .1
2 7 1 .8
2 7 7 .2
2 7 0 .7
V a l u e a d d e d ...............................................................................................................................................................................................
36
1 5 3 .3
1 6 0 .0
1 5 3 .9
1 5 8 .5
1 6 0 .0
1 6 1 .0
1 6 0 .6
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
37
1 2 8 .1
1 3 3 .5
1 2 8 .2
1 3 2 .4
1 3 3 .6
1 3 4 .3
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
38
2 5 .2
2 6 .6
2 5 .7
2 6 .1
2 6 .4
3............................................................................................................
39
1 0 6 .5
1 1 3 .2
1 0 9 .9
1 1 4 .6
111.8
D u r a b l e g o o d s ....................................................................................................................................................................................
40
2 .7
2 .7
I n te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
2.6
2.8
2 .7
1 3 3 .6
2 7 .0
2 .7
110.1
2.6
1 6 .6
1 5 .9
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
41
1 5 .7
1 6 .4
1 6 .3
1 6 .6
C o m m o d i t y C r e d i t C o r p o r a t i o n in v e n t o r y c h a n g e .........................................................................................
42
- 0 .5
-
0.1
0.1
-0 .3
0.1
O t h e r n o n d u r a b l e g o o d s ....................................................................................................................................................
43
1 6 .3
1 6 .4
1 6 .2
1 6 .9
1 6 .4
1 6 .6
1 5 .9
S e r v i c e s ..................................................................................................................................................................................................
44
9 4 .1
9 0 .9
9 5 .1
9 2 .6
9 6 .9
9 1 .6
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
45
88.1
2.6
2 .7
2 .7
2.6
2 .7
2.8
S a l e s t o o t h e r s e c t o r s ..........................................................................................................................................................
46
5 .5
4 .4
7 .0
4 .5
4 .5
4 .7
State and local consumption expenditures 1..................................................................................
47
1,207.2
1,287.9
1,243.4
1,256.2
1,280.7
1,300.0
1,314.9
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
48
1 ,5 3 1 .9
1 ,6 3 4 .1
1 ,5 7 6 .2
1 ,5 9 4 .0
1 ,6 2 3 .8
1 ,6 4 9 .0
1 ,6 6 9 .5
1 ,0 6 4 .4
V a l u e a d d e d ..............................................................................................................................................................................................
1 6 .4
2 6 .7
1 1 6 .3
0.0
0.0
2 .7
4 .0
49
9 8 6 .2
1 ,0 3 9 .0
1 ,0 2 8 .7
50
8 7 2 .3
9 1 5 .8
1 ,0 0 6 .0
8 8 8 .5
1 ,0 1 6 .2
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
8 9 6 .5
9 0 7 .2
1 ,0 4 6 .7
9 2 2 .7
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
b
1 1 3 .9
1 2 3 .2
1 1 7 .6
1 1 9 .6
1 2 1 .5
1 2 4 .1
1 2 7 .7
6 0 5 .1
1
9 3 6 .8
3............................................................................................................
62
5 4 5 .7
5 9 5 .1
5 7 0 .1
5 7 7 .8
5 9 5 .0
6 0 2 .3
D u r a b l e g o o d s ...................................................................................................................................................................................
53
2 3 .4
2 4 .5
2 3 .7
2 4 .0
2 4 .4
2 4 .7
2 5 .0
N o n d u r a b l e g o o d s ..........................................................................................................................................................................
54
1 8 8 .7
210.0
2 0 1 .9
201.1
2 1 4 .4
2 1 4 .7
2 0 9 .7
3 3 3 .6
3 6 0 .5
3 4 4 .5
3 5 2 .6
3 5 6 .2
3 6 2 .8
3 7 0 .4
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
S e r v i c e s ..................................................................................................................................................................................................
55
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
56
1 8 .8
1 9 .4
1 9 .9
2 0 .7
21.1
S a l e s t o o t h e r s e c t o r s ...........................................................................................................................................................
57
3 0 6 .0
3 2 5 .6
3 1 3 .4
3 1 8 .0
3 2 2 .5
3 2 8 .3
3 3 3 .5
T u itio n a n d r e l a t e d e d u c a t i o n a l c h a r g e s .........................................................................................................
58
6 7 .0
7 3 .2
6 9 .1
7 0 .6
7 2 .3
7 4 .1
7 5 .7
H e a l t h a n d h o s p i t a l c h a r g e s .....................................................................................................................................
59
1 4 6 .1
1 5 3 .7
1 4 8 .8
1 5 0 .6
1 5 2 .4
1 5 4 .9
1 5 6 .9
O t h e r s a l e s .............................................................................................................................................................................
60
9 2 .9
9 8 .7
9 5 .5
9 6 .8
9 7 .8
9 9 .4
1 0 0 .9
20.6
20.6
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.
March 2007
D-29
S u r v e y o f 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
[B illio n s o f c h a i n e d ( 2 0 0 0 ) d o lla r s ]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2006
2005
IV
II
I
IV
III
1
2
1,609.3
1,611.2
1,628.6
1,626.6
1,636.7
1,651.2
1 ,8 8 4 .8
1 ,9 1 6 .8
1, 888.8
1 ,9 0 6 .9
1 ,9 0 7 .7
1 ,9 1 8 .9
1 ,9 3 3 .7
3
1 ,1 4 0 .9
1 ,1 4 8 .6
1 ,1 4 4 .3
1 ,1 4 2 .3
1 ,1 4 4 .6
1 ,1 5 1 .5
1 ,1 5 6 .2
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ......................................................................................
4
9 5 4 .1
9 5 7 .0
9 5 6 .0
9 5 2 .7
9 5 3 .8
9 5 9 .3
9 6 2 .4
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2...................................................................................
5
1 8 7 .8
1 9 3 .2
1 8 9 .5
1 9 1 .0
1 9 2 .4
1 9 3 .9
1 9 5 .4
6
7 4 6 .7
7 7 1 .4
7 4 7 .2
7 6 7 .9
7 6 6 .2
7 7 0 .6
7 8 0 .9
5 3 .8
5 6 .0
5 5 .3
5 4 .6
5 4 .6
5 6 .7
5 8 .4
1 7 2 .9
1 7 4 .5
1 7 4 .3
1 7 6 .2
1 7 4 .7
5 1 8 .6
5 3 8 .6
5 3 7 .0
5 3 7 .5
5 4 8 .3
Government consumption expenditures 1
.....................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t ..........................
V a l u e a d d e d ................................................................................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3.....................................................................................................
1,635.8
D u ra b le g o o d s
7
N o n d u ra b le g o o d s
8
1 7 2 .3
1 7 4 .9
5 4 0 .3
S e r v i c e s ...........................................................................................................................................................................................
L e s s : O w n - a c c o u n t i n v e s t m e n t 4............................................................................................................................................
S a l e s t o o t h e r s e c t o r s ....................................................................................................................................................
9
5 2 0 .1
10
11
12
1 9 .7
2 0 .5
2 5 5 .9
2 6 0 .6
2 5 7 .6
2 5 8 .3
2 6 0 .6
2 6 1 .7
2 6 1 .7
620.8
629.4
20.0
20.1
20.6
20.6
20.8
618.9
632.0
624.9
627.2
633.6
13
6 3 1 .8
6 3 9 .9
6 3 0 .0
6 4 2 .4
6 3 6 .1
6 3 8 .1
6 4 2 .9
.................................................
14
3 3 7 .3
3 3 6 .1
3 3 7 .8
3 3 4 .8
3 3 4 .8
3 3 7 .4
3 3 7 .4
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
15
2 5 0 .0
2 4 7 .2
2 4 9 .8
2 4 6 .5
2 4 6 .1
2 4 8 .2
2 4 7 .9
16
8 7 .5
8 9 .7
8 8 .4
8 9 .0
8 9 .5
9 0 .0
9 0 .4
17
2 9 7 .2
3 0 7 .1
2 9 4 .8
3 1 1 .3
3 0 4 .6
3 0 3 .8
3 0 8 .9
Federal consumption expenditures 1......
.................................................................
G ro s s o u tp u t o f g e n e r a l g o v e rn m e n l
V a l u e a d d e d ......................................................................................
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
I n t e r m e d i a t e g o o d s a n d s e r v i c e s p u r c h a s e d 3 ...
D u r a b l e g o o d s ...........................................................................
N o n d u ra b le g o o d s
..................................................................................................................................................................
S e r v i c e s ..................................
L ess: O w n -a c c o u n t in v e s tm e n t4
S a le s to o th e r s e c to r s
Defense consumption expenditures 1
18
3 1 .8
3 3 .6
3 3 .2
3 2 .3
3 2 .1
3 4 .1
3 5 .7
2 8 .3
2 6 .5
2 8 .2
2 8 .3
2 6 .6
2 7 .0
2 3 .9
20
21
22
2 3 7 .0
2 4 7 .4
2 3 3 .4
2 5 0 .5
2 4 5 .9
2 4 2 .9
2 5 0 .1
7 .3
6 .7
6 .7
7 .5
23
413.3
418.1
410.0
419.0
414.7
413.7
424.9
24
19
3 .7
3 .8
3 .7
3 .8
7 .4
3 .7
3 .8
7 .2
3 .8
5 .5
4 1 7 .5
4 2 2 .6
4 1 3 .7
4 2 3 .4
4 1 9 .9
4 1 8 .4
4 2 8 .6
25
2 1 5 .2
2 1 3 .7
2 1 5 .5
2 1 2 .9
2 1 2 .5
2 1 4 .5
2 1 4 .9
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
26
1 5 2 .0
1 4 9 .5
1 5 1 .8
1 4 9 .1
1 4 8 .5
1 5 0 .1
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
27
6 3 .2
6 4 .6
6 3 .7
6 4 .1
6 4 .5
6 4 .8
6 5 .0
210.2
2 0 6 .5
2 1 6 .8
2 9 .2
3 1 .1
3 2 .8
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
V a l u e a d d e d ...................................................................
1 5 0 .3
28
2 0 4 .5
2 1 1 .7
200.1
2 1 3 .5
D u r a b l e g o o d s ........................................................
29
2 8 .9
3 0 .6
3 0 .2
2 9 .3
N o n d u r a b l e g o o d s ...............................................
30
1 4 .7
1 3 .0
1 4 .4
1 4 .4
1 3 .2
1 3 .4
11.1
S e r v i c e s ......................................................................
31
1 6 0 .6
1 6 8 .4
1 5 5 .4
1 6 9 .7
1 6 7 .9
1 6 2 .2
1 7 4 .0
1 .7
1 .7
2 .9
2.0
1.6
2.8
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
S a l e s t o o t h e r s e c t o r s ..............
Nondefense consumption expenditures 1
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
V a l u e a d d e d ................................................
1.6
1 .7
1 .7
3 .7
3 .1
2.0
33
1.6
2.6
34
207.3
211.2
208.7
212.8
210.1
213.4
208.4
35
2 1 4 .1
2 1 7 .0
2 1 6 .2
2 1 8 .7
2 1 6 .0
2 1 9 .5
2 1 3 .9
36
122.0
1 2 2 .4
122.2
1 2 1 .9
122.2
1 2 2 .9
1 2 2 .4
9 7 .5
32
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
37
9 7 .8
9 7 .6
9 7 .8
9 7 .3
9 7 .5
9 8 .1
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2
38
2 4 .4
2 5 .1
2 4 .6
2 4 .8
2 5 .0
2 5 .2
2 5 .4
39
9 2 .6
9 5 .3
9 4 .6
9 7 .7
9 4 .3
9 7 .3
9 1 .9
3 .0
2 .9
1 3 .8
1 3 .3
I n t e r m e d i a t e g o o d s a n d s e r v i c e s p u r c h a s e d 3 ...
D u r a b l e g o o d s ...........................................................................
40
2 .9
3 .0
3 .0
3 .1
3 .0
N o n d u r a b l e g o o d s .................................................................
41
1 3 .4
1 3 .7
1 3 .9
1 4 .1
1 3 .7
C o m m o d i t y C r e d i t C o r p o r a t i o n i n v e n to r y c h a n g e .........................................................................................
42
-
O t h e r n o n d u r a b l e g o o d s ....................................................................................................................................................
43
1 4 .0
1 3 .8
1 3 .8
1 4 .3
1 3 .6
1 3 .8
1 3 .3
44
7 6 .2
7 8 .7
7 7 .8
8 0 .5
7 7 .8
8 0 .5
7 5 .8
S e r v i c e s .........................................................................................
L e s s : O w n - a c c o u n t i n v e s t m e n t 4...................................................................................................................................................
2.1
45
4 .7
46
S a l e s t o o t h e r s e c t o r s .............
State and local consumption expenditures 1
47
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .........................................................................................................................................
V a l u e a d d e d ................................................
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..............................................................................................
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.........................................................................................
0.6
988.0
0.0
2.1
3 .8
1,005.9
0.1
2.2
5 .5
991.9
-
0.2
2.1
3 .9
996.1
0.1
2.1
3 .9
0.0
2.2
4 .0
0.0
2.1
3 .4
1,001.2
1,009.0
1,017.2
48
1 ,2 5 2 .7
1 ,2 7 6 .6
1 ,2 5 8 .3
1 ,2 6 4 .2
1 ,2 7 1 .2
1 ,2 8 0 .4
1 ,2 9 0 .4
49
8 0 3 .5
8 1 2 .6
8 0 6 .4
8 0 7 .5
8 1 0 .0
8 1 4 .1
8 1 8 .8
50
7 0 3 .9
7 1 0 .0
7 0 6 .0
7 0 6 .3
7 0 7 .9
7 1 1 .2
51
100.2
1 0 3 .4
101.0
102.0
102.8
1 0 3 .8
1 0 4 .9
4 5 6 .9
4 6 1 .5
4 6 6 .6
4 7 1 .9
2 2 .3
2 2 .5
7 1 4 .8
3............................................................................................................
52
4 4 9 .5
4 6 4 .2
D u r a b l e g o o d s ...................................................................................................................................................................................
53
22.1
2 2 .5
N o n d u r a b l e g o o d s .........
54
1 4 4 .2
1 4 8 .6
1 4 4 .9
1 4 6 .3
1 4 7 .8
1 4 9 .3
1 5 0 .8
55
56
2 8 3 .2
2 8 5 .2
1 6 .2
2 8 8 .3
1 6 .4
2 9 1 .2
2 9 4 .7
2 9 8 .3
I n te rm e d ia te g o o d s a n d s e rv i c e s p u r c h a s e d
S e r v i c e s .................................................................................................................................................................................................
L e s s : O w n - a c c o u n t i n v e s t m e n t 4..................................................................................................................................................
4 5 2 .3
22.2
22.6
22.8
1 6 .0
2 9 3 .1
1 6 .8
1 6 .8
1 6 .8
1 7 .0
57
2 4 8 .7
2 5 3 .9
2 5 0 .3
2 5 1 .6
2 5 3 .1
2 5 4 .6
2 5 6 .2
T u itio n a n d r e l a t e d e d u c a t i o n a l c h a r g e s .........................................................................................................
58
4 6 .8
4 7 .9
4 7 .2
4 7 .4
4 7 .7
4 8 .0
4 8 .3
1 2 0 .3
122.1
1 2 0 .4
121.0
121.8
1 2 2 .5
1 2 3 .2
S a le s to o th e r s e c to i s
H e a lth a n d h o s p ita l c h a r g e s
59
O t h e r s a l e s ..............................'
60
8 2 .2
8 4 .5
8 3 .2
8 3 .7
8 4 .3
8 4 .8
8 5 .3
R e s i d u a l ...................................................................................
61
-
2.1
- 4 .3
- 2 .3
- 4 .1
- 4 .0
- 4 .0
- 5 .5
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account 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
National Data
March 2007
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2005
2006
2006
IV
National defense consumption expenditures and gross investment...................................
Consumption expenditures 1...........................................................................................................
G r o s s o u t p u t o f g e n e r a l g o v e r n m e n t .......................................................................................................................................................
V a l u e a d d e d ...............................................................................
C o m p e n s a t i o n o f g e n e r a l g o v e r n m e n t e m p l o y e e s ..........................................................................................................
I
II
1
2
1.7
1.9
-9.9
8.9
-2.0
-1.2
12.3
1.2
1.2
-10.8
9.1
-4.1
-0.9
11.3
3
1 .3
1.2
- 1 1 .5
9 .8
- 3 .3
- 1 .4
10.1
4
0.8
- 0 .7
0 .9
- 4 .7
- 0 .7
3 .7
5
0 .3
-
0 .4
- 6 .9
-
0.6
- 2 .4
1 .3
- 8 .5
- 2 .3
1.6
- 3 .5
-
1.6
M i l i t a r y ...........................................................................................................................................................................................................
6
C i v i l i a n ...........................................................................................................................................................................................................
7
2 .3
0.0
8
2 .5
2 .3
2 .4
2 .4
9
1.8
3 .5
- 2 4 .0
2 9 .6
2 .4
5 .8
9 .8
- 1 2 .3
M i s s i l e s .........................................................................................................................................................................................................
10
11
12
S h i p s ................................................................................................................................................................................................................
C o n s u m p t i o n o f g e n e r a l g o v e r n m e n t f ix e d c a p i t a l 2.....................................................................................................
In te rm e d ia te g o o d s a n d s e r v i c e s p u r c h a s e d
3........................................................................................................................
D u r a b l e g o o d s ....................................................................
A i r c r a f t ...........................................................................................................................................................................................................
IV
III
-
-
10.2
0.6
0.1
2.1
6.2
- 1.1
-
0 .9
4 .3
-
5 .0
2.6
0.6
1.1
4 .3
1 .7
1 .9
-6 .9
21.6
2 9 .8
2 2 .7
1 4 .4
- 2 2 .9
- 1 5 .8
2 6 .8
2 4 .0
5 .9
1 0 0 .3
- 3 7 .8
2 5 .2
- 2 1 .9
3 2 .5
13
- 5 .9
5 .6
- 6 7 .6
8 9 .5
4 .7
8 5 .0
-4 9 .2
V e h i c l e s .........................................................................................................................................................................................................
14
3 7 .7
2 7 .7
12.8
2 1 .5
- 0 .9
6 2 .6
- 2 3 .1
E l e c t r o n i c s ..................................................................................................................................................................................................
15
2 6 .1
1 5 .9
7 .7
- 1 7 .0
5 .4
7 0 .6
O t h e r d u r a b l e g o o d s ..........................................................................................................................................................................
16
- 1 .7
3 .1
20.0
N o n d u r a b l e g o o d s .......................................................................................................................................................................................
17
- 3 .0
-
18
-4 .7
P e t r o l e u m p r o d u c t s .............................................................................................................................................................................
A m m u n it io n
................................................................................................................................................................................
20.0
7 .1
6.2
0 .7
6.6
-5 3 .5
68.1
-3 7 .1
- 2 .9
- 1 4 .8
- 4 2 .3
4 1 .9
1 8 .3
- 0 .5
7 .5
- 3 7 .1
-1 1 .3
-5 7 .3
4 .9
- 2 8 .6
4 2 .1
^.1
- 1 2 .9
3 2 .4
7 .3
- 4 0 .5
9 4 .8
2 1 .3
- 1 .9
- 1 7 .2
-
2.2
0.8
- 0.1
6.8
-
-
0 .4
- 2 1 .3
-1 6 .2
- 7 .6
2 6 .8
2.8
- 4 9 .5
7 1 .3
- 2 2 .7
- 3 3 .3
1 1 4 .9
8 .4
9 .4
- 2 3 .1
2 8 .6
7 .4
-4 .2
2 9 .3
2.2
11.1
2 .9
9 .4
10.2
- 1 .3
3 .8
1 8 .9
27
2.1
7 .2
5 .0
-5 .4
5 .2
2 6 .8
28
- 5 .5
1 .5
5 .5
- 3 .9
2.1
4 .1
29
2 1 .7
1 3 .2
- 8 1 .3
3 1 6 .1
1 9 5 .8
-4 6 .2
5.5
7.2
-3.1
14.1
-3.1
24
P e rso n n el su p p o rt
25
T r a n s p o r t a t i o n o f m a t e r i a l ..............................................................................................................................................................
26
T ra v e l o f p e r s o n s ....................................................................................................................................................................................
-
-
Gross investment5......................
30
S t r u c t u r e s ........................................................
31
- 3 .5
3 .8
1 1 .3
E q u i p m e n t a n d s o f t w a r e ....................................................................................................................................................................................
32
7 .5
- 4 .1
4 .4
- 4 .9
1 3 .2
3 1 4 .3
1.1
20.6
11.2
6.6
- 5 0 .0
A ir c r a f t..,
33
6.2
21.6
M i s s ile s
34
6 .4
S h ip s
- 2 9 .8
- 4 .7
- 0 .9
S a le s to o th e r s e c to r s
0.6
1.0
-1 4 .8
23
L ess: O w n -a c c o u n t in v e s tm e n t4
5 .6
-
-1 1 .5
In sta lla tio n s u p p o r t
W e a p o n s s u p p o r t.
-0 .9
- 2 2 .7
5 .6
R e s e a r c h a n d d e v e l o p m e n t .........................................................................................................................................................
S e r v i c e s ..............................................................................................................................................................................................................
3 .9
11.6
8 1 .0
- 5 .8
19
20
21
22
O t h e r n o n d u r a b l e g o o d s .................................................................................................................................................................
-
-
1.6
35
- 8 .5
V e h ic le s
36
4 4 .9
E l e c t r o n i c s a n d s o f t w a r e .............................................................................................................................................................................
37
1 3 .5
O t h e r e q u i p m e n t ................................................................................................................................................................................................
38
- 2 .9
7.9
2.8
-8 2 .5
19.0
- 1 0 .7
4 .6
1 6 .1
- 3 .6
7 .7
1 8 .0
0 .9
- 1 4 .6
- 2 6 .3
- 3 8 .2
8 3 .7
- 8 0 .7
4 1 0 .1
-1 9 .0
10.2
1 5 .5
6 4 .8
-2 4 .5
- 4 4 .9
3 3 .2
3 8 .5
8 1 .4
7 .8
-6 .9
9 .8
3 2 .8
0.1
2 4 .8
- 1 .4
1 2 .3
2 8 8 .2
-
2.0
- 4 4 .1
6.0
2 0 .3
1 . N a tio n a l d e f e n s e c o n s u m p tio n e x p e n d itu r e s a r e d e f e n s e s e r v i c e s p r o d u c e d by g o v e r n m e n t t h a t a r e v a lu e d a t th e ir c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t
i n v e s tm e n t (c o n s tr u c tio n a n d s o f tw a r e ).
2 . C o n s u m p tio n o f fix ed c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e of th e s e r v i c e s o f g e n e r a l g o v e r n m e n t fix e d a s s e t s ; t h e u s e o f d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n
th e se a sse ts.
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts fo r g o o d s a n d s e r v i c e s s o ld to o th e r s e c t o r s a n d for o w n - a c c o u n t in v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d r e la te d e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s if i e d a s in v e s tm e n t in s tr u c t u r e s a n d in
s o f tw a r e .
5 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n te r p r i s e e x p e n d itu r e s fo r fix ed a s s e t s ; in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
March 2007
Survey
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 numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
National defense
consumption
expenditures and gross
investment.........................
Consumption expenditures 1......
S e a s o n a lly a d ju s te d
2006
I
II
L in e
III
2005
2006
IV
1 130.593 133.073 130.002 132.808 132.141 131.740 135.605
2 128.551 130.044 127.544 130.343 128.981 128.681 132.171
2005
IV
National defense
consumption
expenditures and gross
investment.........................
Consumption expenditures 1.......
2006
I
II
III
IV
1 121.855 126.019 122.760 124.752 126.006 126.714 126.603
2 125.071 129.642 126.061 128.327 129.681 130.375 130.186
G ro s s o u tp u t o f g e n e ra l
G ro s s o u tp u t o f g e n e r a l
g o v e r n m e n t ............................................
3
1 2 8 .6 1 9
1 3 0 .2 0 2
1 2 7 .4 4 6
1 3 0 .4 6 0
1 2 9 .3 6 6
1 2 8 .9 2 1
1 3 2 .0 5 9
g o v e r n m e n t .............................................
3
1 2 5 .0 6 3
1 2 9 .6 1 4
1 2 6 .0 4 4
1 2 8 .3 0 0
1 2 9 .6 4 9
1 3 0 .3 4 3
1 3 0 .1 6 4
V a l u e a d d e d ...........................................
4
1 0 8 .0 4 8
1 0 7 .3 0 0
1 0 8 .2 0 6
1 0 6 .9 0 3
1 0 6 .7 0 7
1 0 7 .6 7 4
1 0 7 .9 1 7
V a l u e a d d e d ............................................
4
1 3 1 .6 7 1
1 3 6 .4 3 0
1 3 2 .0 0 9
1 3 5 .8 9 4
1 3 6 .3 8 8
1 3 6 .6 8 6
1 3 6 .7 5 1
C o m p e n s a tio n o f g e n e ra l
C o m p e n s a tio n o f g e n e r a l
g o v e r n m e n t e m p l o y e e s ...
fa
1 0 9 .3 8 9
1 0 7 .6 0 8
1 0 9 .2 7 7
1 0 8 .1 8 6
g o v e r n m e n t e m p l o y e e s ...
1 4 1 .7 1 3
1 4 7 .0 4 5
M il ita r y ............................................
6
1 1 2 .1 5 2
1 0 9 .4 9 8
1 1 1 .8 4 2
1 0 9 .3 8 5
1 0 8 .7 3 8
1 1 0 .0 8 2
1 0 9 .7 8 8
M il ita r y ............................................
6
1 4 6 .5 1 6
1 5 1 .9 7 6
1 4 6 .5 7 3
1 5 1 .9 5 1
1 5 2 .0 2 4
1 5 2 .0 0 5
1 5 1 .9 2 3
C i v ilia n ............................................
7
1 0 4 .4 0 0
1 0 4 .3 5 4
1 0 4 .6 8 2
1 0 3 .7 6 5
1 0 3 .7 3 2
1 0 4 .4 0 7
1 0 5 .5 1 0
C i v i l i a n ............................................
7
1 3 2 .3 9 6
1 3 7 .4 8 0
1 3 2 .6 7 5
1 3 6 .8 0 5
1 3 7 .7 6 0
1 3 7 .6 4 3
1 3 7 .7 1 2
8
1 0 4 .8 5 8
1 0 7 .2 5 7
1 0 5 .8 3 8
1 0 6 .4 6 7
1 0 7 .0 2 4
1 0 7 .5 3 9
1 0 7 .9 9 8
8
1 0 7 .6 2 3
1 1 1 .0 1 4
1 0 8 .4 5 6
1 0 9 .8 1 8
1 1 0 .5 8 1
111.688
1 1 1 .9 7 0
1 0 7 .3 3 6
1 0 6 .8 9 5
1 0 8 .0 1 4
C o n s u m p tio n o f g e n e r a l
g o v e r n m e n t f ix e d c a p i t a l 2
3..............
D u r a b l e g o o d s ...............................
A ir c r a f t ............................................
1 4 1 .8 4 4
1 4 6 .7 9 6
1 4 7 .1 7 3
1 4 7 .1 2 0
1 4 7 .0 9 0
C o n s u m p tio n o f g e n e ra l
In te rm e d ia te g o o d s a n d
se rv ic e s p u rc h a se d
5
g o v e r n m e n t f ix e d c a p i t a l 2
I n te rm e d ia te g o o d s a n d
3................
9
1 6 3 .0 9 4
1 6 8 .8 4 1
1 5 9 .5 7 4
1 7 0 .2 7 5
1 6 7 .5 8 7
1 6 4 .6 3 0
1 7 2 .8 7 1
se rv ic e s p u rc h a se d
10
11
12
1 2 9 .8 1 2
1 3 7 .3 8 7
1 3 5 .7 9 9
1 3 1 .4 1 2
1 3 1 .0 4 0
1 3 9 .8 8 1
1 4 7 .2 1 6
D u r a b l e g o o d s ...............................
1 0 4 .1 6 0
1 0 3 .5 5 0
1 0 6 .4 5 0
9 9 .7 3 6
9 5 .5 2 5
1 0 1 .3 6 9
1 1 7 .5 7 2
A i r c r a f t ............................................
1 4 8 .7 1 3
1 3 2 .0 6 1
1 3 9 .7 0 0
1 3 1 .3 4 5
9
1 1 6 .7 2 7
1 2 1 .0 0 4
1 1 8 .3 8 2
1 1 8 .9 2 3
121.112
1 2 2 .2 0 4
1 2 1 .7 7 8
10
11
12
1 0 3 .7 2 8
1 0 5 .5 8 2
1 0 3 .8 9 6
1 0 4 .2 8 8
1 0 5 .4 2 1
1 0 6 .0 1 5
1 0 6 .6 0 3
1 0 4 .9 3 7
1 0 6 .8 4 6
1 0 4 .9 3 3
1 0 5 .2 2 2
1 0 6 .7 5 0
1 0 7 .4 2 2
1 0 7 .9 9 1
1 2 8 .4 6 5
1 3 6 .0 0 6
1 0 5 .6 0 9
1 0 7 .3 5 5
1 0 6 .1 8 7
1 0 7 .1 5 1
1 0 8 .0 0 8
1 0 8 .0 7 5
S h i p s ...............................................
13
9 7 .8 1 0
1 0 3 .2 6 5
8 4 .0 7 9
9 8 .6 5 0
9 9 .7 8 9
1 1 6 .3 8 6
9 8 .2 3 6
S h i p s .................................................
13
1 0 6 .8 9 4
1 0 9 .9 0 9
1 0 7 .8 7 1
1 0 8 .2 3 5
1 0 9 .7 3 5
1 1 0 .5 0 6
1 1 1 .1 6 2
V e h i c l e s .........................................
14
1 4 3 .7 2 1
1 8 3 .5 3 0
1 6 7 .3 1 1
1 7 5 .6 5 3
1 7 5 .2 4 3
1 9 7 .8 9 9
1 8 5 .3 2 6
V e h i c l e s .........................................
14
1 1 7 .8 8 1
1 1 8 .0 9 9
1 1 8 .4 1 0
1 1 8 .0 7 3
1 1 8 .6 4 3
1 1 6 .5 3 2
1 1 9 .1 4 8
E l e c t r o n i c s ..................................
15
2 0 0 .8 4 5
2 3 2 .7 1 3
2 2 5 .1 5 2
2 1 4 .9 2 0
2 1 7 .7 6 5
2 4 8 .8 8 0
2 4 9 .2 8 7
E l e c t r o n i c s ..................................
15
9 3 .9 3 7
9 5 .1 9 3
9 3 .7 6 7
9 3 .8 9 9
9 4 .8 7 3
9 5 .7 2 0
9 6 .2 7 8
O t h e r d u r a b l e g o o d s ...........
16
1 4 9 .0 1 9
1 5 4 .8 1 6
1 4 7 .7 8 4
1 4 9 .7 9 4
1 5 0 .9 4 9
1 5 7 .9 8 1
1 6 0 .5 3 8
O t h e r d u r a b l e g o o d s ...........
16
1 0 4 .0 6 0
1 0 6 .4 2 2
1 0 4 .7 3 0
1 0 5 .3 6 5
1 0 6 .2 1 1
1 0 6 .8 3 0
1 0 7 .2 8 3
1 0 6 .1 1 4
M i s s i l e s .........................................
1 4 0 .9 1 9
M i s s i l e s ..........................................
1 0 5 .2 6 2
17
1 4 1 .1 4 9
1 2 4 .7 2 8
1 3 7 .9 8 6
1 2 6 .3 1 3
N o n d u r a b l e g o o d s ......................
17
1 3 7 .7 5 8
1 5 1 .9 7 0
1 4 8 .6 5 8
1 4 4 .1 6 2
1 5 6 .9 0 4
1 5 8 .7 3 9
1 4 8 .0 7 4
P e t r o l e u m p r o d u c t s ............
18
1 3 5 .9 4 9
1 2 0 .2 6 1
1 3 2 .2 9 6
1 3 2 .6 3 6
1 2 5 .4 2 0
1 2 7 .3 3 1
9 5 .6 5 8
P e t r o l e u m p r o d u c t s ..............
18
1 8 4 .6 3 7
2 1 5 .9 9 7
2 1 4 .1 8 6
1 9 9 .5 4 7
2 2 9 .4 9 0
2 3 2 .5 8 7
2 0 2 .3 6 5
A m m u n i t i o n ...............................
19
1 9 9 .2 0 2
1 8 9 .7 5 9
2 0 7 .1 3 8
1 9 8 .9 8 8
1 7 3 .4 1 5
1 8 9 .2 5 8
1 9 7 .3 7 3
A m m u n i t i o n .................................
19
1 1 1 .6 1 5
1 1 9 .2 1 0
1 1 2 .2 7 0
1 1 4 .8 7 2
1 1 9 .2 1 6
1 2 1 .1 2 8
1 2 1 .6 2 5
O th e r n o n d u ra b le g o o d s
20
21
1 2 3 .4 3 6
1 0 5 .1 6 1
1 1 9 .6 2 7
1 2 1 .8 0 2
1 0 8 .4 6 5
1 0 5 .2 7 3
8 5 .1 0 6
O th e r n o n d u ra b le g o o d s
1 1 0 .6 6 9
1 0 8 .8 3 0
1 0 9 .2 6 4
1 1 0 .7 2 9
1 1 1 .2 5 2
1 1 1 .4 3 2
1 8 1 .6 5 6
1 6 7 .6 1 4
1 8 2 .9 9 4
1 8 1 .0 7 7
1 7 4 .9 1 3
1 8 7 .6 4 1
20
21
1 0 7 .7 8 7
1 7 3 .1 8 9
1 1 7 .3 8 6
1 2 1 .2 3 6
1 1 8 .4 9 0
1 1 9 .5 0 5
121.022
1 2 2 .1 4 4
1 2 2 .2 7 4
22
1 1 5 .9 7 5
1 2 0 .3 6 1
1 1 7 .4 5 3
1 1 8 .5 3 0
1 2 0 .0 6 3
1 2 1 .1 3 8
1 2 1 .7 1 5
1 2 1 .8 2 1
1 2 3 .3 4 6
1 2 4 .8 9 5
1 2 4 .9 1 8
1 1 6 .3 9 7
1 1 7 .5 2 8
N o n d u r a b l e g o o d s ......................
S e r v i c e s .............................................
1 3 8 .1 9 7
1 2 8 .4 9 7
R e se arch and
d e v e l o p m e n t ........................
I n s t a l l a t i o n s u p p o r t ..............
S e r v i c e s ...............................................
R e se arch and
22
1 8 4 .6 9 0
1 9 8 .2 0 4
1 7 0 .6 0 3
2 0 1 .5 4 4
2 0 1 .7 6 0
1 9 0 .0 5 4
1 9 9 .4 5 9
d e v e l o p m e n t ........................
23
1 3 0 .5 2 3
1 2 8 .0 3 8
1 2 9 .5 1 7
1 3 1 .6 6 1
1 2 5 .9 6 0
1 2 3 .4 8 5
1 3 1 .0 4 5
I n s t a l l a t i o n s u p p o r t ..............
23
1 1 9 .5 7 8
1 2 3 .7 4 5
1 2 0 .5 6 6
24
1 8 3 .7 4 2
1 8 8 .8 6 2
1 7 3 .2 6 5
1 9 8 .2 2 5
1 8 5 .8 7 6
1 6 7 .9 7 6
2 0 3 .3 7 2
W e a p o n s s u p p o r t ..................
24
1 1 4 .4 3 0
1 1 7 .6 9 5
1 1 5 .4 5 9
1 1 8 .0 2 7
1 1 8 .8 2 8
P e r s o n n e l s u p p o r t ................
25
2 0 5 .9 2 1
2 2 5 .2 8 2
2 0 6 .4 6 0
2 1 9 .8 5 3
2 2 3 .7 9 5
2 2 1 .4 0 4
2 3 6 .0 7 6
P e r s o n n e l s u p p o r t ................
25
1 1 6 .7 0 5
1 2 0 .0 2 3
1 1 7 .3 5 5
1 1 8 .5 2 3
1 1 9 .5 2 8
1 2 0 .5 2 7
1 2 1 .5 1 4
T r a n s p o r ta tio n o f m a te r ia l
26
1 6 8 .2 4 5
1 7 3 .1 7 0
1 6 6 .7 9 9
1 7 0 .9 0 0
1 7 0 .3 3 1
1 7 1 .9 2 8
1 7 9 .5 2 0
T r a n s p o r ta tio n o f m a te r ia l
26
1 2 4 .0 1 9
1 2 7 .0 4 1
1 2 5 .4 9 1
1 2 4 .9 8 4
1 2 8 .0 7 7
1 2 9 .5 3 9
1 2 5 .5 6 3
T ra v e l o f p e r s o n s ...................
27
1 5 9 .2 5 4
1 5 5 .9 3 4
1 5 2 .3 1 5
1 5 4 .1 8 9
1 5 2 .0 7 2
1 5 4 .0 2 5
1 6 3 .4 5 2
T r a v e l o f p e r s o n s ....................
27
1 2 1 .1 5 5
1 2 5 .7 3 1
1 2 2 .9 9 8
1 2 3 .1 6 0
1 2 7 .5 0 7
1 2 9 .0 9 6
1 2 3 .1 6 2
L ess: O w n -a c c o u n t in v e s tm e n t4
28
1 4 3 .6 7 8
1 4 5 .7 9 5
1 4 5 .6 8 1
1 4 4 .2 4 5
1 4 5 .0 0 7
1 4 6 .4 5 5
1 4 7 .4 7 4
L ess: O w n -a c c o u n t in v e s tm e n t4
28
1 2 6 .1 2 7
1 3 1 .6 0 9
1 2 7 .1 1 9
1 3 0 .0 9 7
1 3 1 .6 0 2
1 3 1 .9 8 7
1 3 2 .7 4 9
1 4 8 .8 9 8
100.221
1 4 3 .1 3 5
1 8 7 .7 0 7
1 0 3 .9 7 3
1 2 2 .0 0 8
1 2 2 .6 9 9
1 2 3 .5 7 3
1 2 4 .2 9 2
155.397 162.303
W e a p o n s s u p p o r t .................
S a l e s t o o t h e r s e c t o r s ......
29
1 3 1 .5 8 0
S a l e s t o o t h e r s e c t o r s ........
29
1 2 2 .6 6 1
Gross investm ent5.......................
30
145.920 156.469 148.703 151.544 156.631
Gross investm ent5.......................
30
101.628 103.405 102.026 102.438 103.109 103.880 104.191
S t r u c t u r e s .......................................................
31
8 5 .2 6 3
8 8 .4 6 2
8 6 .0 4 5
8 1 .6 3 1
7 9 .3 4 7
8 0 .2 3 9
1 1 2 .6 3 1
S t r u c t u r e s .......................................................
31
1 2 2 .2 8 8
1 3 0 .4 7 2
1 2 6 .7 8 5
1 2 8 .1 1 6
1 2 9 .6 7 4
1 3 0 .6 4 1
1 3 3 .4 5 5
E q u i p m e n t a n d s o f t w a r e ....................
32
1 5 3 .4 3 6
1 6 4 .9 2 3
1 5 6 .4 7 0
1 6 0 .3 3 3
1 6 6 .4 4 3
1 6 4 .9 1 1
1 6 8 .0 0 6
E q u i p m e n t a n d s o f t w a r e .....................
32
9 9 .9 0 1
1 0 1 .2 7 6
1 0 0 .0 4 4
1 0 0 .3 9 9
1 0 1 .0 1 6
1 0 1 .7 7 2
1 0 1 .9 1 7
A i r c r a f t ........................................................
33
2 0 0 .7 5 5
2 0 9 .5 1 8
2 0 8 .4 2 0
2 1 7 .2 0 5
2 1 7 .7 0 8
2 0 9 .2 7 1
1 9 3 .8 8 8
A i r c r a f t ........................................................
33
8 6 .8 3 9
8 5 .4 1 0
8 5 .9 3 3
8 5 .0 9 2
8 5 .4 6 4
86.101
M i s s i l e s .......................................................
34
1 5 1 .8 4 0
1 7 1 .8 5 4
1 8 9 .2 6 1
1 6 7 .8 1 9
1 9 5 .3 8 0
1 2 9 .5 4 0
1 9 4 .6 7 8
M i s s i l e s .......................................................
34
1 0 2 .1 4 2
1 0 1 .6 2 4
1 0 1 .4 0 2
1 0 2 .2 2 3
1 0 0 .8 8 9
1 0 1 .9 0 4
1 0 1 .4 8 2
S h i p s ...........................................................
35
1 2 5 .8 4 0
1 2 7 .1 9 7
1 1 5 .7 4 5
120.001
1 3 5 .9 6 4
1 2 6 .7 2 6
1 2 6 .1 0 0
S h i p s .............................................................
35
1 1 8 .3 7 2
1 2 8 .3 5 7
1 2 0 .6 7 4
1 2 3 .7 8 3
1 2 7 .1 6 0
1 3 1 .2 5 5
1 3 1 .2 3 2
V e h i c l e s .....................................................
36
2 1 7 .1 7 4
2 6 1 .9 9 3
2 2 0 .0 9 2
2 3 6 .4 2 6
2 5 6 .4 7 5
2 9 7 .6 5 7
2 5 7 .4 1 6
V e h i c l e s .....................................................
36
E l e c t r o n i c s a n d s o f t w a r e .............
37
1 4 1 .4 3 2
1 5 7 .2 9 8
1 5 1 .1 7 9
1 4 8 .4 8 5
1 5 1 .9 8 0
1 6 3 .1 5 8
1 6 5 .5 6 7
E l e c t r o n i c s a n d s o f t w a r e ..............
37
8 9 .1 6 7
8 8 .6 4 2
8 8 .4 1 3
8 8 .4 7 2
8 8 .7 2 7
8 8 .7 0 8
8 8 .6 5 9
O t h e r e q u i p m e n t .................................
38
1 4 6 .1 9 2
1 5 5 .8 8 9
1 4 4 .0 0 0
1 5 2 .1 9 9
1 5 1 .6 7 0
1 5 6 .1 5 0
1 6 3 .5 3 5
O t h e r e q u i p m e n t .................................
38
1 0 5 .8 2 2
1 0 8 .0 3 7
1 0 6 .5 9 0
1 0 7 .1 2 0
1 0 7 .6 8 8
1 0 8 .3 8 7
1 0 8 .9 5 2
1 6 0 .7 7 5
1. N a tio n a l d e f e n s e c o n s u m p tio n e x p e n d itu r e s a r e d e f e n s e s e r v i c e s p r o d u c e d b y g o v e r n m e n t th a t a r e v a lu e d a t th e ir c o s t
o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s tm e n t (c o n s tr u c tio n a n d s o f t
w a r e ).
2 . C o n s u m p tio n o f fix ed c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e o f th e
s e r v i c e s o f g e n e r a l g o v e r n m e n t fix ed a s s e t s ; t h e u s e of d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n t h e s e a s s e t s .
9 9 .2 6 3
1 2 3 .1 4 3
9 8 .9 2 6
1 2 1 .9 7 6
9 9 .8 6 6
9 9 .3 4 3
9 9 .1 5 9
9 6 .9 6 4
8 4 .9 8 2
1 0 0 .2 3 9
1 . N a tio n a l d e f e n s e c o n s u m p tio n e x p e n d itu r e s a r e d e f e n s e s e r v i c e s p r o d u c e d b y g o v e r n m e n t t h a t a r e v a lu e d a t th e ir c o s t
o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s tm e n t (c o n s tr u c tio n a n d s o f t
w a r e ).
2 . C o n s u m p tio n o f fix ed c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e o f t h e
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts fo r g o o d s a n d s e r v i c e s s o ld to o th e r s e c t o r s a n d fo r o w n - a c c o u n t
in v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d r e la te d
s e r v i c e s o f g e n e r a l g o v e r n m e n t fix e d a s s e t s ; t h e u s e o f d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n t h e s e a s s e t s .
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts fo r g o o d s a n d s e r v i c e s s o ld to o th e r s e c t o r s a n d fo r o w n - a c c o u n t
in v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d r e la te d
e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s ifie d a s in v e s tm e n t in s tr u c tu r e s a n d in s o f tw a r e .
5 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s fo r fix ed a s s e t s ;
in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s if i e d a s in v e s tm e n t in s tr u c t u r e s a n d in s o f tw a r e .
5 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s fo r fix e d a s s e t s ;
in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
D-32
National Data
Table 3.11.5. National Defense Consumption Expenditures
and Gross Investment by Type
March 2007
Table 3.11.6. Real National Defense Consumption Expenditures
and Gross Investment by Type, Chained Dollars
[B i l l i o n s o f d o l l a r s ]
[B i llio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
National defense
consumption expenditures
and gross investment.......
S e a s o n a ll y a d ju s te d a t a n n u a l r a te s
L in e
2006
II
I
III
621.0
590.9
613.5
616.5
618.1
635.7
516.9
542.0
516.9
537.7
537.7
539.3
553.2
g o v e r n m e n t ..............................................
3
5 2 2 .1
5 4 7 .7
5 2 1 .4
5 4 3 .2
5 4 4 .4
5 4 5 .4
5 5 7 .9
V a l u e a d d e d ............................................
4
2 8 3 .4
2 9 1 .6
2 8 4 .5
2 8 9 .3
2 8 9 .9
2 9 3 .1
2 9 3 .9
2 1 5 .4
2 1 9 .9
2 1 5 .4
2 1 8 .9
2 1 8 .6
220.8
221.1
M il ita r y ..............................................
6
6
1 4 6 .9
1 4 8 .8
1 4 6 .6
1 4 8 .6
1 4 7 .8
1 4 9 .6
1 4 9 .2
g o v e r n m e n t e m p l o y e e s ...
C i v ilia n .............................................
7
6 8 .4
7 1 .0
7 0 .3
7 0 .8
7 1 .2
7 2 .0
C o m p e n s a tio n of g e n e ra l
8
68.0
3................
M i s s i l e s ..........................................
IV
492.8
481.4
491.8
489.3
487.8
502.2
418.1
410.0
419.0
414.7
413.7
424.9
g o v e r n m e n t ..............................................
3
4 1 7 .5
4 2 2 .6
4 1 3 .7
4 2 3 .4
4 1 9 .9
4 1 8 .4
4 2 8 .6
V a l u e a d d e d ............................................
4
2 1 5 .2
2 1 3 .7
2 1 5 .5
2 1 2 .9
2 1 2 .5
2 1 4 .5
2 1 4 .9
5
1 5 2 .0
1 4 9 .5
1 5 1 .8
1 4 9 .1
1 4 8 .5
1 5 0 .1
1 5 0 .3
M il ita r y ............................................
6
1 0 0 .3
9 7 .9
100.0
9 7 .8
9 7 .2
9 8 .4
9 8 .2
C i v i l i a n ............................................
7
5 1 .7
5 1 .7
5 1 .8
5 1 .4
5 1 .4
5 1 .7
5 2 .3
G ro s s o u tp u t o f g e n e r a l
C o m p e n s a tio n o f g e n e ra l
7 1 .7
6 9 .1
7 0 .4
7 1 .3
7 2 .3
7 2 .8
2 3 8 .7
2 5 6 .2
2 3 6 .9
2 5 3 .9
2 5 4 .5
2 5 2 .3
2 6 4 .0
3 0 .0
3 2 .3
3 1 .4
3 0 .5
3 0 .8
3 3 .0
3 4 .9
se rv ic e s p u rc h a se d
1 0 .7
1 0 .9
11.0
1 0 .3
10.0
1 0 .7
1 2 .5
D u r a b l e g o o d s ...............................
3 .3
3 .6
3 .8
3 .4
3 .7
3 .5
3 .7
A i r c r a f t ............................................
C o n s u m p tio n of g e n e ra l
g o v e r n m e n t f ix e d c a p i t a l 2
9
10
11
12
D u r a b l e g o o d s .................................
III
II
413.3
In te rm e d ia te g o o d s a n d
se rv ic e s p u rc h a se d
I
483.6
C o n s u m p tio n o f g e n e r a l
g o v e r n m e n t f ix e d c a p i t a l 2
2006
1
2
Consumption expenditures 1......
G ro s s o u tp u t o f g e n e r a l
68.8
2005
IV
National defense
consumption
expenditures and gross
investment.........................
589.3
g o v e r n m e n t e m p l o y e e s ....
2006
IV
1
2
Consumption expenditures 1.......
2005
8
6 3 .2
6 4 .6
6 3 .7
6 4 .1
2 0 4 .5
2 1 1 .7
200.1
2 1 3 .5
2 8 .9
3 0 .6
3 0 .2
2 9 .3
2 9 .2
10.2
10.2
1 0 .5
9 .8
9 .4
6 4 .5
6 4 .8
6 5 .0
2 0 6 .5
2 1 6 .8
3 1 .1
3 2 .8
10.0
11.6
In te rm e d ia te g o o d s a n d
3................
9
210.2
S h i p s .................................................
13
1 .4
1 .5
1.2
1 .4
1 .4
1 .7
1 .4
M is s ile s
10
11
12
3 .2
3 .3
3 .6
3 .2
3 .4
3 .2
3 .5
V e h i c l e s ..........................................
14
1 .3
1 .7
1 .5
1.6
1.8
1 .7
S h ip s
13
1 .3
1 .4
1.1
1 .3
1 .3
1 .5
1 .3
E l e c t r o n i c s ....................................
15
5 .5
6 .5
6.2
5 .9
7 .0
7 .0
V e h i c l e s .........................................
14
1.1
1 .4
1 .3
1 .4
1 .4
1 .5
1 .4
O t h e r d u r a b l e g o o d s .............
16
7 .7
8.2
7 .7
7 .8
N o n d u r a b l e g o o d s ........................
17
2 0 .3
1 9 .7
2 1 .3
20.6
1.6
6.0
8.0
20.6
21.2
A i r c r a f t .............................................
8 .4
8.6
E l e c t r o n i c s ...................................
15
5 .9
6.8
6.6
6 .3
6 .4
7 .3
7 .3
1 6 .3
O t h e r d u r a b l e g o o d s ...........
16
7 .4
7 .7
7 .3
7 .4
7 .5
7 .9
1 3 .0
8.0
11.1
18
10.2
1 0 .3
11.2
1 0 .4
1 1 .3
1 1 .7
7 .6
N o n d u r a b l e g o o d s ......................
17
1 4 .7
1 4 .4
1 4 .4
1 3 .2
1 3 .4
A m m u n i t i o n .................................
19
4 .0
4 .1
4 .2
4 .1
3 .7
4 .2
4 .4
P e t r o l e u m p r o d u c t s ..............
18
5 .5
4 .9
5 .4
5 .4
5 .1
5 .2
O th e r n o n d u r a b le g o o d s ...
20
21
6.1
5 .3
5 .9
5 .5
5 .3
4 .3
A m m u n i t i o n .................................
19
3 .6
3 .4
3 .8
3 .6
3 .1
3 .4
1 8 8 .5
2 0 4 .2
1 8 4 .1
2 0 3 .2
1 9 8 .1
2 1 2 .7
O th e r n o n d u ra b le g o o d s
20
21
P e t r o l e u m p r o d u c t s ..............
S e r v i c e s ...............................................
6.1
202.8
R e se arch an d
d e v e l o p m e n t .........................
S e r v i c e s ...............................................
22
5 6 .3
6 2 .7
5 2 .7
6 2 .8
6 3 .7
6 0 .5
3 .9
3 .6
5 .6
4 .8
5 .5
5 .6
4 .9
4 .8
3 .9
1 6 0 .6
1 6 8 .4
1 5 5 .4
1 6 9 .7
1 6 7 .9
1 6 2 .2
1 7 4 .0
R e se arch and
6 3 .8
I n s t a l l a t i o n s u p p o r t ................
23
3 8 .9
3 9 .5
3 8 .9
4 0 .0
3 8 .7
3 8 .4
4 0 .8
d e v e l o p m e n t ........................
22
4 8 .5
5 2 .1
4 4 .8
5 3 .0
5 3 .0
4 9 .9
5 2 .4
W e a p o n s s u p p o r t ...................
24
20.2
2 1 .3
1 9 .2
22.1
2 0 .9
1 9 .0
2 3 .2
I n s ta l l a t i o n s u p p o r t ..............
23
3 2 .5
3 1 .9
3 2 .3
3 2 .8
3 1 .4
3 0 .8
3 2 .7
P e r s o n n e l s u p p o r t .................
25
5 5 .2
6 2 .1
5 5 .6
5 9 .8
6 1 .4
6 1 .2
6 5 .8
W e a p o n s s u p p o r t ..................
24
1 7 .6
1 8 .1
1 6 .6
1 9 .0
1 7 .8
1 6 .1
1 9 .5
T r a n s p o r ta tio n o f m a te r ia l
26
9 .0
9 .5
9 .0
9 .2
9 .4
9 .6
9 .7
P e r s o n n e l s u p p o r t ................
25
4 7 .3
5 1 .7
4 7 .4
5 0 .5
5 1 .4
5 0 .8
5 4 .2
T r a v e l o f p e r s o n s .....................
27
9 .1
9 .2
8 .9
9 .1
9 .3
9 .5
T r a n s p o r ta tio n o f m a te r ia l
26
7 .2
7 .4
7 .2
7 .3
7 .3
7 .4
7 .7
L ess: O w n -a c c o u n t in v e s tm e n t4
28
2.1
2.2
8.8
2.1
2.1
2.2
2.2
2.2
S a l e s t o o t h e r s e c t o r s ........
29
3 .1
3 .6
2 .4
3 .4
4 .5
3 .9
2 .5
Gross investm ent5........................
30
72.4
79.0
75.8
78.8
78.8
82.5
74.1
5 .4
T r a v e l o f p e r s o n s .....................
27
7 .5
7 .3
7 .1
7 .2
7 .1
7 .2
L ess: O w n -a c c o u n t in v e s tm e n t4
28
1 .7
1 .7
1 .7
1 .7
29
2 .9
2.0
1.6
2.8
1.6
S a l e s t o o t h e r s e c t o r s ........
1.6
2.6
3 .7
3 .1
2.0
30
71.2
72.6
74.0
76.5
75.9
Gross investm ent5.......................
76.4
7 .7
79.2
S t r u c t u r e s ........................................................
31
5 .2
5 .7
5 .2
5 .1
5 .2
7 .5
E q u i p m e n t a n d s o f t w a r e ......................
32
6 7 .2
7 3 .2
68.6
7 0 .6
7 3 .7
7 3 .6
7 5 .1
S tru c tu re s
31
4 .2
4 .4
4 .3
4 .1
3 .9
4 .0
5 .6
A i r c r a f t ..........................................................
33
1 3 .5
1 3 .9
1 3 .9
1 4 .3
1 4 .4
1 4 .0
12.8
E q u i p m e n t a n d s o f t w a r e .....................
32
6 7 .3
7 2 .3
68.6
7 0 .3
7 3 .0
7 2 .3
7 3 .7
M i s s i l e s ........................................................
34
4 .2
4 .7
5 .2
4 .6
5 .3
3 .6
A i r c r a f t ........................................................
33
1 5 .6
1 6 .3
1 6 .2
1 6 .8
1 6 .9
1 6 .2
1 5 .0
1 1 .4
11.0
5 .3
S h i p s .............................................................
35
9 .8
10.8
9 .2
9 .8
1 0 .9
M i s s i l e s .......................................................
34
4 .1
4 .6
5 .1
4 .5
5 .3
V e h i c l e s .......................................................
36
3 .9
4 .7
4 .0
4 .3
4 .7
5 .3
4 .7
S h i p s .............................................................
35
8 .3
8 .4
7 .6
7 .9
9 .0
8 .3
8 .3
E l e c t r o n i c s a n d s o f t w a r e ..............
37
12.8
1 4 .1
1 3 .5
1 3 .3
1 3 .6
1 4 .6
1 4 .8
V e h i c l e s .....................................................
36
4 .0
4 .8
4 .0
4 .3
4 .7
5 .4
4 .7
O t h e r e q u i p m e n t ..................................
38
2 3 .0
2 5 .1
22.8
2 4 .3
2 4 .3
2 5 .2
2 6 .5
E l e c t r o n i c s a n d s o f t w a r e ..............
37
1 4 .3
1 5 .9
1 5 .3
1 5 .0
1 5 .4
1 6 .5
1 6 .7
22.6
6.1
22.6
6.8
2 3 .2
2 4 .3
-
-6 .4
-
O t h e r e q u i p m e n t .................................
1 . N a tio n a l d e f e n s e c o n s u m p tio n e x p e n d itu r e s a r e d e f e n s e s e r v i c e s p r o d u c e d b y g o v e r n m e n t t h a t a r e v a lu e d a t th e ir
c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s t o o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s tm e n t (c o n s tr u c tio n
a n d s o f tw a r e ).
2 . C o n s u m p tio n o f fix ed c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e o f th e
s e r v i c e s o f g e n e r a l g o v e r n m e n t fix ed a s s e t s ; th e u s e of d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n t h e s e a s s e t s .
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts fo r g o o d s a n d s e r v i c e s s o ld to o th e r s e c t o r s a n d fo r o w n - a c c o u n t
in v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d
r e la te d e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s if i e d a s in v e s tm e n t in s tr u c t u r e s a n d in s o f tw a r e .
5 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s fo r fix ed
a s s e t s ; in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
R e s id u a l
38
2 1 .7
2 3 .2
39
- 4 .0
-
6.8
2 1 .4
-4 .8
-
3 .5
5 .2
8.1
1 . N a tio n a l d e f e n s e c o n s u m p tio n e x p e n d itu r e s a r e d e f e n s e s e r v i c e s p r o d u c e d b y g o v e r n m e n t t h a t a r e v a lu e d a t th e ir
c o s t o f p r o d u c tio n . E x c l u d e s g o v e r n m e n t s a l e s to o th e r s e c t o r s a n d g o v e r n m e n t o w n - a c c o u n t in v e s tm e n t (c o n s tr u c tio n
a n d s o f tw a r e ).
2 . C o n s u m p tio n o f fix e d c a p ita l, o r d e p r e c ia tio n , is in c lu d e d in g o v e r n m e n t g r o s s o u tp u t a s a p a rtia l m e a s u r e o f th e
s e r v i c e s o f g e n e r a l g o v e r n m e n t fix ed a s s e t s ; t h e u s e o f d e p r e c ia tio n a s s u m e s a z e r o n e t r e tu r n o n t h e s e a s s e t s .
3 . I n c lu d e s g e n e r a l g o v e r n m e n t in te r m e d i a te in p u ts for g o o d s a n d s e r v i c e s s o ld to o t h e r s e c t o r s a n d fo r o w n - a c c o u n t
i n v e s tm e n t.
4 . O w n - a c c o u n t in v e s tm e n t is m e a s u r e d in c u r r e n t d o lla r s b y c o m p e n s a tio n o f g e n e r a l g o v e r n m e n t e m p lo y e e s a n d
r e la te d e x p e n d itu r e s fo r g o o d s a n d s e r v i c e s a n d is c la s s if i e d a s in v e s tm e n t in s t r u c t u r e s a n d in s o f tw a r e .
5 . G r o s s g o v e r n m e n t in v e s tm e n t c o n s i s t s o f g e n e r a l g o v e r n m e n t a n d g o v e r n m e n t e n t e r p r i s e e x p e n d itu r e s fo r fixed
a s s e t s ; in v e n to r y in v e s tm e n t is in c lu d e d in g o v e r n m e n t c o n s u m p tio n e x p e n d itu r e s .
N ote . C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s t h e p r o d u c t o f th e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e o f t h e c o r r e s p o n d i n g s e r i e s , d iv id e d by 1 0 0 . B e c a u s e th e f o rm u la for t h e c h a in - ty p e q u a n tity in d e x e s u s e s
w e i g h ts o f m o r e t h a n o n e p e rio d , t h e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s id u a l lin e is
t h e d if f e r e n c e b e tw e e n th e first lin e a n d t h e s u m o f t h e m o s t d e ta il e d lin e s.
March 2007
Survey
of
D-33
C u r r e n t B u s in e s s
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
IV
I
II
Current receipts from the rest of the w orld.............................................................................
1
1,816.5
Exports of goods and services........................................................................................................
2
1,303.1
1,466.1
9 0 7 .5
1 ,0 3 5 .5
9 4 4 .3
9 8 9 .3
6 2 5 .6
7 1 7 .7
6 6 2 .5
6 8 9 .1
5
2 8 1 .9
3 1 7 .8
2 8 1 .8
6
3 9 5 .6
4 3 0 .7
7
513.3
G oods
1............................................................................................................................................................................................................................
D u r a b l e ...
N o n d u ra b le
S e r v ic e s
3
4
1...
Income receipts
W a g e a n d s a l a r y r e c e i p t s ................................................................................................................................................................................
fl
q
In c o m e re c e ip ts o n a s s e t s
IV
2,008.7
2,109.5
2,170.7
1,352.4
1,405.4
1,448.1
1,488.3
1,522.7
1 ,0 1 9 .1
1 ,0 5 5 .8
1 ,0 7 7 .6
7 0 5 .0
7 2 6 .8
7 4 9 .9
3 0 0 .3
3 1 4 .1
3 2 9 .0
3 2 7 .7
4 0 8 .1
4 1 6 .0
4 2 9 .0
4 3 2 .5
4 4 5 .1
564.9
603.3
661.4
682.3
2 .9
3 .0
5 1 0 .4
2 .9
2 .9
2 .9
5 6 1 .9
6 0 0 .4
6 5 8 .5
6 7 9 .4
1 7 2 .4
2 0 1 .3
2 2 4 .1
2 5 6 .5
2 7 0 .5
3 2 0 .0
4 5 3 .3
1 5 0 .7
1 5 0 .8
1 6 2 .2
1 8 .0
-9 2 .8
2 2 5 .6
2 5 1 .2
2 4 6 .6
I n t e r e s t .......................
m
D i v i d e n d s .................
R e i n v e s t e d e a r n i n g s o n U .S . d i r e c t i n v e s t m e n t a b r o a d ....................................................................................................
11
1?
Current payments to the rest of the world...............................................................................
13
2,587.9
14
2,019.9
Imports of goods and services
III
1,917.3
2,785.4
2,824.8
2,952.0
3,037.6
2,229.4
2,127.8
2,170.6
2,229.8
2,290.1
2,226.9
1.............................................
15
1 ,6 9 9 .0
1 ,8 8 0 .0
1 ,7 9 9 .3
1 ,8 3 2 .6
1 ,8 7 9 .0
1 ,9 3 8 .8
1 ,8 6 9 .7
D u r a b l e .......................................
16
1 ,0 1 7 .5
1 ,1 2 4 .9
1 ,0 4 9 .9
1 ,0 9 5 .8
1, 112.2
1 ,1 4 3 .7
1 ,1 4 7 .9
N o n d u r a b l e ..............................
17
6 8 1 .5
7 5 5 .1
7 4 9 .4
7 3 6 .8
7 6 6 .8
7 9 5 .1
7 2 1 .7
18
3 2 0 .9
3 4 9 .3
3 2 8 .5
3 3 8 .1
3 5 0 .8
3 5 1 .3
3 5 7 .2
19
481.5
638.6
665.7
G oods
S e r v ic e s
1.....................................................................................................................................................................................................................
Income payments................
W a g e a n d s a la r y p a y m e n ts
?n
552.4
574.3
9 .2
9 .3
9 .2
9 .2
9 .2
?1
4 7 2 .2
5 4 3 .1
5 6 5 .1
6 2 9 .4
6 5 6 .4
I n t e r e s t ........................................
??
3 3 1 .2
3 7 8 .9
4 1 4 .8
4 6 7 .3
4 8 2 .2
D i v i d e n d s .................................................................................................................................................................................................................
?3
8 1 .8
8 7 .3
6 3 .1
6 9 .0
8 1 .6
R e i n v e s t e d e a r n i n g s o n f o r e ig n d i r e c t i n v e s t m e n t in t h e U n ite d S t a t e s ..............................................................
?4
5 9 .2
7 7 .0
8 7 .1
9 3 .1
9 2 .6
Current taxes and transfer payments to the rest of the world (net)..............................................
25
86.6
81.9
105.2
79.9
83.5
81.9
82.1
F r o m p e r s o n s ( n e t ) .................................................................................................................................................................................................
26
4 7 .1
4 8 .3
4 7 .6
4 5 .2
4 8 .7
4 8 .8
5 0 .4
F r o m g o v e r n m e n t ( n e t ) ......................................................................................................................................................................................
27
2 6 .1
1 5 .0
3 0 .6
1 4 .9
1 5 .6
1 5 .8
1 3 .8
F r o m b u s i n e s s ( n e t ) ..............................................................................................................................................................................................
28
1 3 .3
1 8 .6
2 6 .9
1 9 .9
1 9 .3
1 7 .3
1 7 .8
-868.2
-816.1
-842.6
-867.0
-8 2 3 .1
-8 4 6 .1
-8 6 8 .7
-8 1 6 .1
-8 4 2 .6
- 8 6 7 .0
7 .0
3 .5
1 .7
In c o m e p a y m e n ts o n a s s e t s
Balance on current account, NIPAs.........................................................................................
-771.4
Addenda:
N e t l e n d i n g o r n e t b o r r o w in g ( - ) , N I P A s ...............................................................................................................................................
B a l a n c e o n c u r r e n t a c c o u n t , N I P A s ...........
L e s s : C a p ita l a c c o u n t t r a n s a c tio n s (n e t )
2
30
- 7 7 5 .8
- 8 7 0 .2
31
- 7 7 1 .4
-
32
4 .4
868.2
2.1
1. E x p o r ts a n d im p o r ts of c e r ta i n g o o d s , p rim a rily m ilita ry e q u ip m e n t p u r c h a s e d a n d s o ld b y th e F e d e r a l G o v e r n m e n t, a r e in c lu d e d in s e r v i c e s . B e g in n in g w ith 1 9 8 6 , r e p a ir s a n d a lte r a tio n s o f e q u ip m e n t a r e r e c la s
s ifie d f ro m g o o d s t o s e r v i c e s .
2 . C o n s i s t s o f c a p ita l tr a n s f e r s a n d t h e a c q u is itio n a n d d is p o s a l o f n o n p r o d u c e d n o n f in a n c ia l a s s e t s .
D-34
National Data
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
March 2007
Table 4.2.2. Contributions to Percent Change in Real Exports and in
Real Imports of Goods and Services by Type of Product
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
L in e
2005
2006
2005
2005
2006
2005
IV
IV
Exports of goods and
services..........................
Exports of goods 1....................
F o o d s , f e e d s , a n d b e v e r a g e s ....
1
2
I
II
III
IV
8.9
9.6
14.0
6.2
6.8
10.5
7.5
10.5
11.5
17.3
6.0
9.4
8.5
3
5 .6
9 .1
4
7 .6
D u r a b l e g o o d s .................................
5
10.2
N o n d u r a b l e g o o d s ........................
6
2.6
8.0
- 0.2
7
9 .2
1 3 .5
11.8
1 5 .8
2 0 .7
1 3 .2
2 6 .5
1 4 .4
3 .1
9 .5
4 .8
4 .3
1 9 .4
2 0 .3
2 .4
3 .9
5 .6
1 5 .0
- 1 8 .3
In d u s tr ia l s u p p li e s a n d
Exports of goods and
services..........................
6 .3
-
11.1
20.6
3 8 .9
2 8 .3
1 6 .3
8.0
F o o d s , f e e d s , a n d b e v e r a g e s ....
6.6
C iv ilia n a i r c r a f t, e n g i n e s , a n d
p a r t s ..................................................
8
1 6 .7
1 9 .5
6 9 .9
5 5 .2
9
1 5 .3
9 .5
3 .9
9 .8
12.0
12.8
2 4 .8
9 .0
1 4 .1
7 .9
8.0
1 3 .6
2 .7
- 4 .6
2 6 .9
-2 0 .9
O t h e r .......................................................
10
6.6
11
9 .3
-
0.1
8 0 .8
0.1
1 1 .7
12
11.0
10.6
D u r a b l e g o o d s .................................
13
1 5 .1
N o n d u r a b l e g o o d s .......................
14
1 5 .7
8 .9
6.8
0.2
5.1
5.4
5.5
6.7
2 4 .0
6.7
a g e n c y s a l e s c o n t r a c t s .............
17
1 9 .4
- 1 2 .3
- 5 3 .3
2 .5
- 1 4 .7
18
5 .3
1 .4
-3 .6
4 .4
8 .7
P a s s e n g e r f a r e s ....................................
19
3 .0
3 .3
1 0 .5
1 1 .9
- 2 4 .4
O t h e r t r a n s p o r t a t i o n .........................
-
0.8
7 .7
5 .9
4 .9
1 1 .3
1.1
O t h e r p r i v a t e s e r v i c e s ....................
20
21
22
5 .9
9 .5
20.8
O t h e r .............................................................
23
-2 .7
2.8
-5 .8
R o y a l t i e s a n d l i c e n s e f e e s ...........
Imports of goods and
services..........................
24
6.1
1.2
5.8
13.2
14.1
6.05
-0 .9 3
4
5
6
0 .4 5
1 .3 8
0 .4 7
0 .6 5
0.02
0 .7 3
7
2 .5 5
8
0 .7 1
-
-
2 .4 8
0 .5 8
0 .5 2
0 .3 2
0 .2 9
1 .2 7
- 2 .5 4
3 .8 3
2 .1 6
0 .2 9
0 .4 6
1 .7 3
3 .7 2
7 .2 4
4 .5 9
1 .8 5
1 .5 8
4 .1 1
0 .9 1
2 .5 4
2 .4 0
1.21
0.00
3 .1 7
-
C o m p u te rs , p e rip h e ra ls , a n d
0 .3 4
0 .3 8
0.00
0 .3 7
1 .8 5
2 .6 7
1 .5 8
0 .5 7
11
0 .6 9
0 .6 0
1.02
0.22
- 0 .3 5
1 .8 1
- 0 .5 9
a u t o m o t i v e ..........................................
12
0 .9 5
0 .9 3
1.02
1 .3 9
1 3 .8
D u r a b l e g o o d s .................................
13
0.68
0 .6 3
0 .4 4
15.5
N o n d u r a b l e g o o d s ........................
14
0 .2 7
0 .3 0
0 .5 8
O t h e r ........................................................
0.8
-2 0 .5
-
1.8
a n d p a r t s ...............................................
C onsum er goods, except
0.10
1 .2 9
0 .8 0
0 .5 7
0 .4 6
0.86
0 .5 9
- 0 .4 7
0 .8 3
0 .4 3
-0 .7 2
0 .7 3
0 .4 5
0.25
4.43
O t h e r ..............................................................
15
0 .3 0
0 .2 3
0.01
0.68
3 1 .0
Exports of services 1.................
16
1.55
1.64
1.71
2.07
1 9 .7
T r a n s f e r s u n d e r U .S . m il ita r y
17
0 .2 4
- 0 .1 7
- 1 .0 4
0 .0 3
1.97
1 .2 8
1 2 .9
12.8
a g e n c y s a l e s c o n t r a c t s .............
-2 .4
1 5 .2
T r a v e l..............................................................
18
0 .3 4
0 .0 9
-0 .2 3
0 .2 7
0 .5 0
1 1 .3
- 3 .5
P a s s e n g e r f a r e s ....................................
19
0 .0 5
0 .0 5
0 .1 7
0 .1 9
-0 .4 2
- 0 .0 7
0 .1 9
4 .1
9 .7
7 .1
O t h e r t r a n s p o r t a t i o n ...........................
- 0 .0 3
0 .2 6
0 .0 4
0 .9 0
0 .4 1
- 0 .0 8
0 .4 8
7 .2
4 .1
5 .1
0 .2 8
O t h e r p r i v a t e s e r v i c e s ......................
20
21
22
O t h e r ...............................................................
2 8 .8
9.1
25
6.7
5.9
F o o d s , f e e d s , a n d b e v e r a g e s ....
26
3 .7
6 .5
1 .9
1 6 .5
27
6.8
4 .0
1 5 .6
1 .9
D u r a b l e g o o d s .................................
28
7 .5
9 .8
2 9 .1
2 5 .2
N o n d u r a b l e g o o d s ........................
29
6.1
- 1 .5
4 .3
-1 7 .4
P e t r o l e u m a n d p r o d u c t s ................
30
2 .3
- 2 .3
4 0 .6
- 4 .8
1.4
9.4
6.6
1 6 .8
6.8
5.6
-2.2
-0.1
7.1
-3.8
- 4 .8
1 0 .4
-
R o y a l t i e s a n d l i c e n s e f e e s ...........
m a te ria ls , e x c e p t p e tro le u m
-
1.2
6.8
6.0
1 4 .2
- 1 9 .6
2 4 .6
-
- 1 8 .3
22.2
-0 .1 8
-0 .2 5
-
0 .3 1
0.10
1.10
0 .2 6
0.22
0 .4 8
0 .0 5
0 .4 7
- 0 .1 5
0 .7 3
1 .1 5
2 .3 6
0 .5 3
1 .1 4
0 .8 4
1 .9 8
23
- 0 .0 4
0 .0 4
- 0 .0 8
0 .0 9
0 .0 5
0 .0 6
0 .0 8
24
6.1
5.8
13.2
9.1
5.6
-2.2
Percent change at annual rate:
1.2
Imports of goods and
services..........................
I n d u s tr ia l s u p p l i e s a n d
1.4
Percentage points at annual
rates:
2.1
-1 5 .9
Imports of goods 1.....................
25
5.62
5.01
11.88
7.90
-0.05
5.98
-3.26
7 .1
-2 0 .4
F o o d s , f e e d s , a n d b e v e r a g e s ....
26
0 .1 3
0.22
0 .0 7
0 .5 4
- 0 .1 6
0 .3 3
- 0 .0 4
27
0 .8 7
In d u s tria l s u p p li e s a n d
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
31
11.2
32
2 .4
1 1 .5
9 .7
1 6 .1
7 .3
1 9 .7
5 0 .1
11.6
1 3 .5
- 2 .7
- 3 .9
5 4 .9
m a te ria ls , e x c e p t p e tro le u m
a n d p r o d u c t s ......................................
C iv ilia n a ir c r a f t, e n g i n e s , a n d
p a r t s ..................................................
- 1 4 .1
p a r t s ..................................................
O t h e r .......................................................
33
1 4 .3
34
11.0
1 7 .6
9 .3
9 .8
9 .0
3 4 .3
1 8 .4
1 7 .0
7 .6
1 2 .7
-1 0 .4
1 3 .6
- 4 .3
1 5 .6
1 4 .3
- 1 .3
- 8 .3
7 .3
C iv ilia n a i r c r a f t, e n g i n e s , a n d
12.1
8 .4
5 .7
1 5 .2
1 8 .2
C o m p u te rs , p e rip h e ra ls , a n d
p a r t s ..................................................
1 0 .9
- 4 .2
5 .1
8 .3
1 5 .9
5 .5
1 8 .6
1 4 .0
1 1 .4
3 .0
0 .7
- 2 2 .4
4 4 .1
1 .9
- 2 8 .6
-2 3 .9
8 .3
Imports of services 1.................
40
D ir e c t d e f e n s e e x p e n d i t u r e s ......
41
- 5 .9
-
T r a v e l .............................................................
42
-1 .4
-
P a s s e n g e r f a r e s ....................................
43
5 .5
O t h e r t r a n s p o r t a t i o n .........................
44
2.8
5 .2
9 .0
5.3
8.3
2.6
1.1
1 .5
- 2 .7
7.4
1 1 .9
-5 .4
2 .4
- 6 .3
1.1
-
9.9
-2.6
11.0
- 1 .5
1 5 .4
- 1 8 .6
2 5 .0
-
7 .3
1 7 .8
1 2 .4
R o y a l t i e s a n d l i c e n s e f e e s ...........
45
2 .3
6 .7
- 9 .2
3 7 .7
-
O t h e r p r i v a t e s e r v i c e s .....................
46
6 .9
1 1 .9
1 1 .9
12.0
1 4 .4
O t h e r .............................................................
47
0 .7
0 .4
1.6
0 .7
1 6 .3
-
7.1
21.2
1.1
2.8
1 4 .1
7 .3
2.8
- 9 .2
- 8 .7
-
6.0
0.2
1 6 .3
2.2
Addenda:
E x p o r t s o f d u r a b l e g o o d s .............
48
9 .6
12.0
E x p o r t s o f n o n d u r a b l e g o o d s ...
49
3 .0
7 .1
1 3 .2
4 .1
9 .4
6.8
2 7 .4
1 0 .4
9 .6
2 0 .5
-
2
50
5 .2
9 .1
6 .4
2 3 .8
1 9 .1
2.1
g o o d s .......................................................
51
7 .7
10.6
1 1 .9
1 6 .8
5 .1
I m p o r t s o f d u r a b l e g o o d s ..............
52
8 .5
9 .0
1 1 .7
1 6 .8
2.0
10.0
8.1
12.1
0.6
- 1 7 .9
E x p o r ts o f n o n a g ric u ltu r a l
I m p o rts o f n o n d u r a b le g o o d s ....
53
4 .0
1 .5
1 7 .8
- 0 .5
- 3 .0
5 .8
I m p o r ts o f n o n p e tr o l e u m g o o d s
54
7 .4
7 .5
9 .7
1 2 .3
3 .9
7 .2
10.8
2 .0 9
1 .8 2
2.88
32
0 .0 3
0 .0 9
0 .2 3
33
0.66
0 .7 6
0 .4 3
- 2 .8 4
- 1 .8 7
- 0 .9 7
2 .0 5
2 .4 1
- 0 .5 1
0 .5 3
-0 .1 9
-0 .0 5
0 .5 7
1 .3 8
0 .7 2
0 .7 8
- 0 .5 0
1.68
- 0 .5 8
-3 .0 1
O t h e r ........................................................
34
1 .3 9
1 .2 4
1 .1 7
0 .9 6
1 .5 3
35
0 .4 8
0 .8 2
1 .8 1
1 .6 5
-0 .1 5
- 0 .9 7
a u t o m o t i v e ..........................................
36
1.66
1 .6 2
2 .3 8
1 .6 4
1 .0 7
2 .8 0
3 .3 9
D u r a b l e g o o d s .................................
37
1 .1 7
0.88
0 .9 8
1 .1 5
-0 .4 5
1 .6 0
2 .3 8
0 .4 9
1 .5 2
1 .6 1
0 .0 8
- 1 .3 8
1.15
1.49
-0.40
a n d p a r t s ...............................................
0 .8 0
C o n su m er go o d s, ex cep t
0 .7 4
1 .4 0
O t h e r ...............................................................
39
0 .1 4
0 .0 3
- 1 .0 6
Imports of services 1.................
N o n d u r a b l e g o o d s ........................
40
38
0.46
0.84
0 .4 9
1.20
1.01
- 1 .0 4
1.07
41
-
0.02
- 0 .0 4
-
0.02
T r a v e l...............................................................
42
-0 .0 5
- 0 .0 4
0 .3 9
- 0 .1 8
0 .4 6
-
P a s s e n g e r f a r e s ....................................
43
0 .0 7
0 .0 3
-0 .0 8
0.01
0 .2 9
- 0 .3 0
0 .0 9
O t h e r t r a n s p o r t a t i o n ...........................
44
0 .1 6
0.22
0 .5 2
0 .3 7
0 .2 5
0 .3 9
R o y a l t i e s a n d l i c e n s e f e e s ...........
45
0 .0 3
0 .0 8
0.11
0 .4 0
- 0 .0 4
-
0.21
0.11
O t h e r p r i v a t e s e r v i c e s ......................
46
0 .3 4
0 .5 8
0 .5 8
0 .5 8
0 .6 9
0 .3 0
0 .8 0
O t h e r ...............................................................
47
0.00
0.00
0.01
0.00
0.00
0.00
0.01
D ir e c t d e f e n s e e x p e n d i t u r e s ......
0.10
1.32
- 0 .0 4
-
- 0 .1 6
-
-
0.02
0.66
0.12
0 .0 9
0 .5
-
10.1
- 0 .4
1 . E x p o r ts a n d im p o r ts o f c e r ta i n g o o d s , p rim a rily m ilita ry e q u ip m e n t p u r c h a s e d a n d s o ld b y t h e F e d e r a l G o v e r n m e n t,
a r e in c lu d e d in s e r v i c e s . B e g in n in g w ith 1 9 8 6 , r e p a ir s a n d a lte r a tio n s of e q u ip m e n t a r e r e c la s s if ie d fro m g o o d s to
s e rv ic e s.
2 . I n c lu d e s p a r t s o f f o o d s , f e e d s , a n d b e v e r a g e s , o f n o n d u r a b le in d u s tria l s u p p li e s a n d m a te r ia ls , a n d o f n o n d u r a b le
n o n a u to m o tiv e c o n s u m e r g o o d s .
2 .0 8
1 .7 7
1 .6 5
0.12
1.01
A u to m o ti v e v e h i c l e s , e n g i n e s ,
7 .5
8 .7
0.6
p a r t s ..................................................
2 4 .2
-
-2 .7 8
31
8 .3
1 0 .9
- 0 .6 7
0 .2 6
7 .0
39
4 .8 5
30
8.2
37
- 0 .3 0
P e t r o l e u m a n d p r o d u c t s .................
3 .9
38
0 .3 5
2 .0 3
C a p ita l g o o d s , e x c e p t
36
N o n d u r a b l e g o o d s ........................
- 0 .5 0
- 1 .2 9
-
35
D u r a b l e g o o d s .................................
1 .5 5
0 .2 8
0 .3 8
C o n su m er go o d s, ex cep t
O t h e r .............................................................
- 0 .1 5
1 .7 4
0.12
0 .4 9
29
a u t o m o t i v e ..........................................
a u t o m o t i v e ..........................................
0 .5 1
28
N o n d u r a b l e g o o d s ........................
A u to m o ti v e v e h i c l e s , e n g i n e s ,
a n d p a r t s .............................................
0 .2 7
0 .6 4
D u r a b l e g o o d s .................................
C o m p u te rs , p e rip h e ra ls , a n d
E x p o r ts o f a g ric u ltu r a l g o o d s
0 .5 9
-4 .4
Imports of goods 1....................
a n d p r o d u c t s ......................................
6.58
0.86
0 .1 4
T r a n s f e r s u n d e r U .S . m ilita ry
T r a v e l .............................................................
4 .3 6
4.22
0 .6 9
4 .5 6
11.0
- 1 9 .7
15
16
1.86
0.68
11.92
0 .3 2
1 8 .3
2 0 .5
O t h e r .............................................................
Exports of services 1................
0 .5 2
2 .4 9
9 .5
-
7.94
0 .4 1
1 .3 1
22.8
1 4 .5
7.28
0 .2 6
10.5
0 .5 3
1 2 .5
1 6 .8
5.20
3
6.8
9
11.2
9 .1
1 4 .8
2
6.2
10
1 4 .9
7 .5
14.0
N o n d u r a b l e g o o d s ........................
p a r t s ..................................................
- 7 .8
1 5 .2
1 3 .3
9.6
A u to m o ti v e v e h i c l e s , e n g i n e s ,
1.1
6.6
8.9
m a t e r i a l s ...............................................
p a r t s ..................................................
1 1 .7
6.8
D u r a b l e g o o d s .................................
a u t o m o t i v e ..........................................
2.8
C o n su m er go o d s, ex cep t
a u t o m o t i v e ..........................................
1
C iv ilia n a ir c r a f t, e n g i n e s , a n d
A u to m o ti v e v e h i c l e s , e n g i n e s ,
a n d p a r t s .............................................
IV
C a p ita l g o o d s , e x c e p t
C o m p u te r s , p e rip h e ra ls , a n d
p a r t s ..................................................
III
In d u s tr ia l s u p p li e s a n d
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
II
Percentage points at annual
rates:
Exports of goods 1....................
- 1 0 .3
I
Percent change at annual rate:
6.8
m a t e r i a l s ...............................................
2006
2006
1.
E x p o r ts a n d im p o r ts o f c e r ta i n g o o d s , p rim a rily m ilita ry e q u ip m e n t p u r c h a s e d a n d s o ld b y t h e F e d e r a l G o v e r n m e n t,
a r e in c lu d e d in s e r v i c e s . B e g in n in g w ith 1 9 8 6 , r e p a ir s a n d a lte r a tio n s o f e q u ip m e n t a r e r e c la s s if ie d fro m g o o d s to s e r v i c e s .
March 2007
Survey
of
D-35
C u r r e n t B u s in e s s
Table 4.2.3. Real Exports and Imports of Goods and Services
by Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports of Goods and Services
by Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Exports of goods and
services..........................
Exports of goods 1....................
F o o d s , f e e d s , a n d b e v e r a g e s ....
S e a s o n a lly a d ju s te d
L in e
2006
I
II
III
2005
2006
IV
IV
1 109.105 118.831 112.054 115.783 117.536 119.495 122.510
2 107.507 118.755 111.027 115.535 117.228 119.898 122.359
3
1 0 1 .4 4 7
1 1 0 .6 6 7
1 0 2 .6 4 5
1 0 6 .4 8 8
1 1 1 .6 2 1
1 1 5 .1 2 4
1 0 9 .4 3 5
m a t e r i a l s ...............................................
4
1 0 7 .8 3 3
1 1 6 .0 6 0
1 0 5 .6 7 3
1 1 2 .0 7 8
1 1 5 .9 0 6
1 1 6 .7 9 2
1 1 9 .4 6 6
D u r a b l e g o o d s .................................
5
9 8 .9 1 9
1 0 9 .0 0 3
1 0 4 .2 5 4
1 0 6 .2 6 9
1 0 7 .5 2 0
1 0 8 .6 4 5
1 1 3 .5 7 8
N o n d u r a b l e g o o d s ........................
6
1 1 3 .4 9 4
1 2 0 .6 2 5
1 0 6 .7 1 9
1 1 5 .8 5 1
1 2 1 .3 3 3
1 2 2 .0 6 4
1 2 3 .2 5 1
In d u s tr ia l s u p p li e s a n d
2005
Exports of goods and
services..........................
Exports of goods 1....................
2006
I
II
III
IV
1 108.949 112.540 110.108 110.737 112.400 113.631 113.390
2 107.628 111.156 108.450 109.192 110.852 112.286 112.296
3
1 2 1 .3 9 6
1 2 6 .1 0 0
1 2 1 .7 5 8
1 2 2 .0 8 7
1 2 3 .1 0 0
1 2 7 .2 9 4
1 3 1 .9 2 0
m a t e r i a l s ...............................................
4
1 2 6 .6 4 1
1 3 8 .0 8 5
1 3 0 .5 9 6
1 3 2 .7 4 8
1 3 8 .1 6 2
1 4 1 .7 7 4
1 3 9 .6 5 6
D u r a b l e g o o d s .................................
5
1 2 6 .8 1 9
1 4 2 .5 2 0
1 2 9 .0 8 0
1 3 4 .7 5 2
1 4 2 .5 4 5
1 4 6 .1 4 9
1 4 6 .6 3 4
N o n d u r a b l e g o o d s ........................
6
1 2 6 .3 7 1
1 3 5 .2 7 8
1 3 1 .2 1 4
1 3 1 .3 0 8
1 3 5 .3 8 6
1 3 8 .9 9 3
1 3 5 .4 2 6
9 7 .7 8 8
9 8 .5 4 5
9 7 .4 2 3
9 7 .8 0 0
9 8 .3 5 7
9 8 .8 3 8
9 9 .1 8 5
1 2 2 .0 4 2
1 2 6 .8 9 5
1 2 3 .3 6 3
1 2 5 .2 8 0
1 2 6 .7 5 3
1 2 7 .2 4 4
1 2 8 .3 0 4
7 5 .7 4 2
F o o d s , f e e d s , a n d b e v e r a g e s ....
In d u s tr ia l s u p p li e s a n d
C a p ita l g o o d s , e x c e p t
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ...........................................
7
1 0 3 .8 9 1
1 1 7 .9 5 4
1 1 0 .4 8 0
1 1 4 .7 2 5
1 1 6 .5 6 3
1 1 8 .1 5 7
1 2 2 .3 7 1
8
1 0 3 .5 6 7
1 2 3 .7 7 8
1 1 1 .4 7 0
1 2 4 .4 1 4
1 1 7 .3 1 6
1 1 7 .3 3 4
1 3 6 .0 4 9
C iv ilia n a i r c r a f t, e n g i n e s , a n d
p a r t s ..................................................
p a r t s ..................................................
7
C iv ilia n a i r c r a f t, e n g i n e s , a n d
C o m p u te rs , p e rip h e ra ls , a n d
O t h e r .......................................................
a u t o m o t i v e ..........................................
p a r t s ..................................................
8
C o m p u te r s , p e rip h e ra ls , a n d
9
1 0 1 .8 2 4
1 1 1 .5 1 0
1 0 5 .8 9 6
1 0 8 .4 0 9
1 1 1 .5 1 7
1 1 1 .4 9 2
1 1 4 .6 2 3
p a r t s ..................................................
10
1 0 4 .7 9 0
1 1 8 .1 9 4
1 1 1 .5 3 5
1 1 3 .9 7 7
1 1 7 .8 0 7
1 2 0 .0 7 8
1 2 0 .9 1 3
O t h e r ........................................................
11
1 1 8 .5 0 3
1 2 8 .0 1 6
1 2 5 .1 2 8
1 2 5 .9 7 6
1 2 4 .4 9 4
1 3 2 .1 2 9
1 2 9 .4 6 4
A u to m o ti v e v e h i c l e s , e n g i n e s ,
9
8 0 .5 1 9
7 6 .8 0 1
7 7 .7 6 1
7 7 .9 3 4
7 7 .0 9 4
7 6 .4 3 5
10
9 6 .5 5 7
9 7 .4 6 7
9 6 .3 9 3
9 6 .5 0 7
9 7 .1 7 2
9 7 .8 8 5
9 8 .3 0 5
11
1 0 3 .5 2 3
1 0 4 .7 9 4
1 0 3 .9 4 1
1 0 4 .2 1 5
1 0 4 .6 3 6
1 0 5 .0 3 8
1 0 5 .2 8 5
A u to m o ti v e v e h i c l e s , e n g i n e s ,
a n d p a r t s .............................................
C onsum er goods, except
a n d p a r t s ...............................................
C on su m er goods, except
a u t o m o t i v e ..........................................
12
1 2 7 .2 3 5
1 4 0 .7 2 9
1 3 1 .8 0 1
1 3 6 .7 0 7
1 3 7 .0 9 3
1 4 2 .0 4 3
1 4 7 .0 7 3
a u t o m o t i v e ..........................................
12
1 0 3 .0 7 5
1 0 1 .8 9 2
1 0 2 .1 8 4
1 0 2 .8 6 7
1 0 3 .6 3 3
1 0 3 .6 1 6
D u r a b l e g o o d s .................................
13
1 3 1 .7 5 9
1 4 9 .2 8 8
1 3 7 .3 5 8
1 4 2 .7 9 1
1 4 7 .0 5 0
1 5 0 .4 3 5
1 5 6 .8 7 8
D u r a b l e g o o d s .................................
13
1 0 1 .6 0 6
1 0 2 .5 7 2
1 0 1 .7 7 1
1 0 1 .6 8 9
1 0 2 .4 0 5
1 0 3 .1 8 8
1 0 3 .0 0 5
N o n d u r a b l e g o o d s ........................
14
1 2 2 .3 2 2
1 3 1 .4 3 5
1 2 5 .7 6 3
1 3 0 .0 9 4
1 2 6 .2 8 4
1 3 2 .9 3 1
1 3 6 .4 3 2
N o n d u r a b l e g o o d s ........................
14
1 0 1 .9 0 1
1 0 3 .6 4 7
1 0 2 .0 0 7
1 0 2 .7 4 7
1 0 3 .3 8 8
1 0 4 .1 3 2
1 0 4 .3 2 2
O t h e r .............................................................
15
9 1 .9 5 7
9 8 .2 0 2
9 4 .2 4 4
9 8 .7 4 9
9 3 .4 8 8
9 8 .6 6 1
1 0 1 .9 1 0
O t h e r ..............................................................
15
1 1 1 .1 3 5
1 1 5 .5 2 6
1 1 2 .3 6 8
1 1 3 .2 7 9
1 1 5 .1 7 0
1 1 6 .7 9 0
1 1 6 .8 6 6
Exports of services 1................
16
Exports of services 1.................
16
112.115 115.822 114.080 114.430 116.098 116.815 115.943
113.118 119.204 114.693 116.564 118.463 118.712 123.077
T r a n s f e r s u n d e r U .S . m ilita ry
1 0 1 .7 5 5
T r a n s f e r s u n d e r U .S . m il ita r y
17
1 3 6 .1 4 8
1 1 9 .4 1 5
1 2 3 .6 5 4
1 2 4 .4 0 7
1 1 9 .5 6 2
1 1 2 .9 0 0
1 2 0 .7 8 9
a g e n c y s a l e s c o n t r a c t s .............
17
1 0 3 .6 6 2
1 0 7 .0 5 0
1 0 5 .1 3 7
1 0 5 .6 7 4
1 0 6 .5 7 5
1 0 7 .5 0 3
1 0 8 .4 4 9
T r a v e l .............................................................
18
9 0 .8 2 9
9 2 .1 1 1
8 8 .8 8 9
8 9 .8 5 0
9 1 .7 3 5
9 1 .3 3 1
9 5 .5 2 7
T r a v e l...............................................................
18
1 0 9 .1 3 5
1 1 3 .7 6 8
1 1 1 .2 6 5
1 1 1 .8 3 3
1 1 4 .5 8 7
1 1 5 .2 0 5
1 1 3 .4 4 9
P a s s e n g e r f a r e s ....................................
19
7 3 .5 3 2
7 5 .9 6 4
7 7 .6 5 6
7 9 .8 6 2
7 4 .4 6 2
7 3 .6 3 1
7 5 .9 0 3
P a s s e n g e r f a r e s ....................................
19
1 3 7 .5 9 3
1 3 8 .2 0 9
1 3 3 .7 3 3
1 3 2 .7 7 5
1 3 8 .0 1 3
1 4 0 .9 1 8
1 4 1 .1 3 0
O t h e r t r a n s p o r t a t i o n .........................
20
21
22
1 1 3 .8 2 0
1 2 2 .5 4 3
1 1 1 .7 9 4
1 1 9 .0 8 9
1 2 2 .7 1 8
1 2 1 .9 8 2
1 2 6 .3 8 5
O t h e r t r a n s p o r t a t i o n ...........................
1 3 2 .1 0 8
1 3 4 .8 0 3
1 2 3 .9 7 1
1 2 1 .2 1 5
1 2 1 .5 5 1
1 2 4 .8 4 0
1 2 3 .7 4 6
1 2 5 .7 4 7
R o y a l t i e s a n d l i c e n s e f e e s ...........
1 3 4 .4 6 9
1 4 7 .2 2 4
1 4 0 .5 7 9
1 4 2 .0 1 4
1 4 5 .3 3 2
1 4 7 .8 5 6
1 5 3 .6 9 6
O t h e r p r i v a t e s e r v i c e s ......................
20
21
22
1 2 4 .5 3 6
1 1 8 .2 1 5
O t h e r p r i v a t e s e r v i c e s ....................
O t h e r .............................................................
23
1 0 2 .8 8 7
1 0 5 .8 0 0
1 0 2 .1 2 4
1 0 3 .9 1 4
1 0 4 .9 6 0
1 0 6 .2 8 1
1 0 8 .0 4 6
O t h e r ...............................................................
Imports of goods and
services..........................
24
Imports of goods 1....................
25
123.007 130.197 126.377 129.146 129.608 131.378 130.654
124.640 132.042 128.331 131.236 131.218 133.503 132.211
F o o d s , f e e d s , a n d b e v e r a g e s ....
26
1 3 0 .0 8 0
a g e n c y s a l e s c o n t r a c t s .............
R o y a l t i e s a n d l i c e n s e f e e s ...........
1 3 8 .5 7 2
1 3 3 .0 4 5
1 3 8 .2 2 6
1 3 6 .5 5 4
1 3 9 .9 7 2
1 3 9 .5 3 5
In d u s tria l s u p p li e s a n d
1 3 1 .4 9 5
1 3 3 .4 3 6
1 3 4 .4 0 1
1 2 9 .0 9 9
1 1 2 .3 3 2
1 1 5 .8 0 9
1 1 3 .9 0 8
1 1 4 .6 5 8
1 1 5 .7 9 6
1 1 6 .3 8 5
1 1 6 .3 9 6
1 0 7 .6 3 5
110.686
1 0 8 .4 0 4
1 0 9 .5 3 2
1 1 0 .6 0 0
1 1 1 .2 7 1
1 1 1 .3 4 2
23
1 2 0 .9 5 9
1 2 2 .2 4 1
1 2 3 .2 6 7
1 2 2 .7 0 3
1 2 3 .3 4 1
1 2 2 .3 7 3
1 2 0 .5 4 5
Imports of goods and
services..........................
24
111.268 116.048 114.117 113.918 116.608 118.143 115.522
Imports of goods 1.....................
25
109.622 114.528 112.790 112.331 115.197 116.824 113.761
F o o d s , f e e d s , a n d b e v e r a g e s ....
26
1 1 3 .8 5 2
1 1 8 .1 6 8
1 1 5 .4 2 7
1 1 6 .6 1 7
1 1 6 .6 2 8
1 1 8 .7 2 9
1 2 0 .6 9 7
1 3 2 .3 2 7
In d u s tria l s u p p li e s a n d
m a te r ia ls , e x c e p t p e tro le u m
m a te ria ls , e x c e p t p e tro le u m
a n d p r o d u c t s ......................................
27
1 2 4 .5 1 6
1 2 9 .4 6 7
1 2 8 .7 2 9
1 2 9 .3 3 7
1 2 8 .9 5 6
1 3 3 .3 1 6
1 2 6 .2 5 9
a n d p r o d u c t s ......................................
27
1 2 3 .1 0 4
1 3 0 .5 6 3
1 3 2 .0 6 5
1 2 8 .7 0 9
1 2 9 .2 9 0
1 3 1 .9 2 8
D u r a b l e g o o d s .................................
28
1 2 9 .4 7 1
1 4 2 .1 3 5
1 3 4 .5 3 4
1 4 2 .2 9 9
1 3 9 .8 0 7
1 4 7 .7 0 3
1 3 8 .7 3 1
D u r a b l e g o o d s .................................
28
1 1 7 .7 4 8
1 2 9 .2 7 5
1 1 7 .9 2 9
1 2 1 .5 8 0
1 2 8 .9 7 3
1 3 2 .9 9 8
N o n d u r a b l e g o o d s ........................
29
1 1 9 .5 7 2
1 1 7 .8 2 9
1 2 3 .2 5 4
1 1 7 .5 0 0
1 1 9 .2 1 6
1 1 9 .8 4 6
1 1 4 .7 5 7
N o n d u r a b l e g o o d s ........................
29
1 2 8 .9 2 5
1 3 0 .3 9 1
1 4 7 .6 7 1
1 3 5 .8 8 2
1 2 7 .9 2 8
1 2 8 .7 7 8
1 2 8 .9 7 4
P e t r o l e u m a n d p r o d u c t s ................
30
1 1 7 .3 0 7
1 1 4 .5 6 0
1 2 1 .0 6 8
1 1 9 .5 8 4
1 1 3 .7 0 2
1 1 5 .6 8 0
1 0 9 .2 7 4
P e t r o l e u m a n d p r o d u c t s .................
30
1 7 8 .6 3 9
2 1 9 .1 0 2
201.102
2 0 0 .7 4 4
2 3 2 .0 9 6
2 4 2 .1 8 2
2 0 1 .3 8 4
31
1 2 0 .5 9 4
1 3 4 .4 5 3
1 2 5 .0 6 0
1 2 9 .8 2 3
1 3 3 .4 4 2
1 3 7 .7 3 8
1 3 6 .8 0 9
31
9 0 .6 1 8
8 9 .8 5 2
8 9 .8 3 0
8 9 .7 5 8
8 9 .7 2 6
8 9 .9 2 1
9 0 .0 0 2
1 1 8 .9 6 1
C a p ita l g o o d s , e x c e p t
1 3 3 .5 5 0
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
C iv ilia n a ir c r a f t, e n g i n e s , a n d
C iv ilia n a ir c r a f t , e n g i n e s , a n d
32
8 6 .1 0 6
9 2 .3 6 3
8 3 .8 9 4
9 2 .8 5 3
8 9 .3 8 2
8 8 .4 9 0
9 8 .7 2 8
p a r t s ..................................................
33
1 5 5 .3 1 9
1 8 2 .6 3 1
1 6 2 .3 2 6
1 7 4 .7 4 9
1 8 1 .7 3 8
1 8 9 .5 7 8
1 8 4 .4 5 9
O t h e r ......................................................
34
1 1 3 .7 8 9
1 2 4 .9 6 0
1 1 8 .3 8 5
1 2 0 .5 6 0
1 2 4 .2 1 3
1 2 8 .2 4 1
1 2 6 .8 2 6
p a r t s ..................................................
a u t o m o t i v e ..........................................
C o m p u te rs , p e rip h e ra ls , a n d
32
1 1 3 .3 8 6
1 1 7 .5 8 5
1 1 4 .5 2 9
1 1 6 .0 5 2
1 1 7 .3 0 6
1 1 8 .0 2 3
p a r t s ..................................................
33
6 6 .9 2 8
6 1 .9 4 3
6 4 .5 6 7
6 3 .3 9 3
6 2 .1 2 5
6 1 .3 1 9
6 0 .9 3 6
O t h e r ........................................................
34
9 9 .0 2 7
1 0 0 .1 7 3
9 8 .9 2 5
9 9 .3 2 6
9 9 .8 8 5
1 0 0 .6 0 4
1 0 0 .8 7 5
35
1 0 3 .5 7 5
1 0 3 .9 6 5
1 0 3 .7 6 2
1 0 3 .5 1 9
1 0 3 .8 1 0
1 0 4 .1 9 7
1 0 4 .3 3 5
36
9 9 .5 4 7
1 0 0 .0 8 8
9 9 .4 3 2
9 9 .6 3 6
9 9 .6 9 6
1 0 0 .3 5 9
1 0 0 .6 6 3
p a r t s ..................................................
C o m p u te r s , p e rip h e ra ls , a n d
A u to m o ti v e v e h i c l e s , e n g i n e s ,
A u to m o ti v e v e h i c l e s , e n g i n e s ,
35
1 1 8 .0 5 7
1 2 6 .2 9 7
1 2 3 .2 2 1
1 2 7 .4 0 3
1 2 6 .9 9 1
1 2 4 .2 8 6
1 2 6 .5 0 7
a u t o m o t i v e ..........................................
36
1 4 5 .0 9 1
1 5 7 .1 1 9
1 4 8 .0 9 3
1 5 1 .1 0 4
1 5 3 .1 9 5
1 5 8 .7 0 9
1 6 5 .4 6 7
D u r a b l e g o o d s .................................
37
1 5 2 .0 7 0
1 6 4 .6 7 3
1 5 6 .5 2 9
1 6 0 .6 2 1
1 5 8 .8 9 8
1 6 5 .0 0 1
1 7 4 .1 7 1
37
9 6 .6 6 5
9 7 .5 5 4
9 6 .4 3 7
9 6 .7 3 9
9 7 .1 1 7
9 7 .9 6 0
9 8 .3 9 9
N o n d u r a b l e g o o d s ........................
38
1 3 7 .6 6 9
1 4 9 .0 9 5
1 3 9 .1 3 0
1 4 0 .9 9 5
1 4 7 .1 4 7
1 5 2 .0 3 4
1 5 6 .2 0 3
N o n d u r a b l e g o o d s ........................
38
1 0 2 .8 1 0
1 0 2 .9 1 0
1 0 2 .8 3 0
1 0 2 .9 0 9
1 0 2 .5 7 1
1 0 3 .0 1 1
1 0 3 .1 4 7
O t h e r .............................................................
39
1 0 2 .8 2 8
1 0 3 .5 7 6
9 9 .7 4 6
1 0 9 .2 8 3
1 0 9 .8 0 7
1 0 0 .9 4 2
9 4 .2 7 3
O t h e r ..............................................................
39
1 0 7 .6 5 8
1 1 0 .4 4 9
1 0 9 .4 1 8
1 0 9 .3 0 8
1 1 0 .0 8 8
111.011
1 1 1 .3 8 7
a n d p a r t s .............................................
C onsum er goods, except
a n d p a r t s ...............................................
C o n su m er goods, except
1...........................
a u t o m o t i v e ..........................................
D u r a b l e g o o d s .................................
40
115.170 121.308 116.954 119.055 121.896 121.100 123.183
Imports of services 1.................
40
119.933 123.964 120.913 122.242 123.890 124.876 124.849
D ir e c t d e f e n s e e x p e n d i t u r e s ......
41
1 4 6 .7 1 5
1 4 2 .8 6 5
1 4 7 .3 8 8
1 4 6 .3 9 2
1 4 2 .1 8 7
1 4 1 .6 4 2
1 4 1 .2 3 9
D i r e c t d e f e n s e e x p e n d i t u r e s .......
41
1 5 2 .0 8 7
1 5 9 .7 6 9
1 5 1 .1 9 5
1 5 2 .0 6 1
1 6 0 .0 2 3
1 6 3 .2 6 7
1 6 3 .7 2 7
T r a v e l .............................................................
42
8 5 .7 7 4
8 4 .8 2 2
8 5 .7 5 3
8 4 .5 6 8
8 7 .6 5 0
8 3 .2 4 5
8 3 .8 2 5
T r a v e l...............................................................
42
1 2 4 .6 3 9
1 2 9 .4 6 7
1 2 3 .5 2 5
1 2 5 .4 4 0
1 2 8 .2 4 9
1 3 1 .3 0 2
1 3 2 .8 7 7
I m p o r ts o f s e r v i c e s
P a s s e n g e r f a r e s ....................................
43
8 9 .4 6 6
9 1 .6 2 2
8 9 .8 3 7
9 0 .0 8 8
9 5 .2 5 0
8 9 .7 5 1
9 1 .3 9 8
P a s s e n g e r f a r e s ....................................
43
1 2 0 .0 2 6
1 2 6 .6 8 0
1 2 1 .8 7 4
1 2 3 .5 0 9
1 2 5 .7 5 9
1 2 6 .9 8 8
O t h e r t r a n s p o r t a t i o n .........................
44
1 1 6 .8 4 3
1 2 5 .3 4 1
1 1 7 .3 1 2
1 2 0 .7 9 8
1 2 3 .3 4 9
1 2 7 .4 8 2
1 2 9 .7 3 4
O t h e r t r a n s p o r t a t i o n ...........................
44
1 2 8 .3 0 5
1 2 7 .1 7 8
1 3 2 .8 2 7
1 3 0 .3 0 1
1 2 8 .8 4 6
1 2 6 .3 7 8
1 2 3 .1 8 7
R o y a l t i e s a n d l i c e n s e f e e s ...........
45
1 3 2 .4 8 5
1 4 1 .3 9 7
1 3 3 .5 5 4
1 4 4 .6 7 5
1 4 3 .6 5 4
1 4 0 .2 1 1
1 3 7 .0 4 8
R o y a l t i e s a n d l i c e n s e f e e s ...........
45
1 1 2 .2 9 9
1 1 5 .7 6 8
1 1 3 .8 6 9
1 1 4 .6 1 8
1 1 5 .7 5 5
1 1 6 .3 4 5
1 1 6 .3 5 6
O t h e r p r i v a t e s e r v i c e s ......................
46
1 0 6 .0 8 4
1 1 1 .1 8 1
1 0 6 .5 3 0
1 0 9 .6 2 6
1 1 0 .9 0 8
1 1 2 .1 1 5
1 1 2 .0 7 3
O t h e r ...............................................................
47
1 1 8 .2 3 9
1 2 1 .9 3 7
1 1 9 .1 4 1
1 2 0 .1 5 5
1 2 1 .9 8 6
1 2 3 .0 1 8
1 2 2 .5 8 9
O t h e r p r i v a t e s e r v i c e s ....................
46
1 4 5 .3 5 4
1 6 2 .6 8 1
1 5 1 .6 0 2
1 5 5 .9 4 6
1 6 1 .2 6 3
1 6 3 .6 1 8
1 6 9 .8 9 7
O t h e r .............................................................
47
1 0 9 .1 7 9
1 0 9 .6 5 6
1 0 9 .4 7 1
1 0 9 .6 6 7
1 0 9 .4 9 6
1 0 9 .4 3 6
1 1 0 .0 2 5
Addenda:
1 3 0 .4 6 6
Addenda:
120.666
1 0 7 .1 0 1
1 1 9 .9 1 3
1 1 3 .2 6 2
1 1 6 .8 1 5
1 1 7 .9 9 9
1 2 4 .1 7 4
E x p o r t s o f d u r a b l e g o o d s ..............
48
1 0 2 .6 2 0
1 0 5 .1 2 3
1 0 2 .7 5 4
1 0 4 .9 5 9
1 0 5 .8 1 1
1 0 6 .0 9 5
E x p o r t s o f n o n d u r a b l e g o o d s ...
49
1 0 9 .8 0 2
1 1 7 .6 2 5
1 0 7 .3 8 9
1 1 4 .0 8 4
1 1 6 .9 3 6
1 1 9 .6 4 6
1 1 9 .8 3 5
E x p o rts o f n o n d u ra b le g o o d s ....
49
1 1 9 .3 5 7
1 2 5 .5 1 3
1 2 1 .9 6 1
1 2 2 .3 2 5
1 2 4 .8 4 3
1 2 7 .8 1 0
1 2 7 .0 7 6
2
50
1 0 1 .3 8 2
1 1 0 .6 5 3
1 0 2 .4 8 5
1 0 8 .0 9 9
1 1 2 .9 3 1
1 1 3 .5 1 9
1 0 8 .0 6 3
E x p o r ts o f a g ric u ltu r a l g o o d s
2
50
121.201
1 2 5 .7 1 8
1 2 1 .8 1 7
1 2 1 .9 0 4
1 2 2 .6 6 3
1 2 6 .5 1 2
1 3 1 .7 9 2
g o o d s ......................................................
51
1 0 8 .1 6 5
1 1 9 .6 0 9
1 1 1 .8 9 9
1 1 6 .3 2 3
1 1 7 .7 6 5
1 2 0 .6 0 9
1 2 3 .7 4 0
g o o d s .......................................................
51
1 0 6 .4 9 4
1 0 9 .9 4 4
1 0 7 .3 2 3
1 0 8 .1 0 7
1 0 9 .8 2 5
1 1 1 .0 9 1
1 1 0 .7 5 4
1 2 9 .8 3 4
1 3 4 .9 7 1
1 3 5 .6 3 3
1 3 8 .3 0 9
1 3 8 .4 9 7
I m p o r t s o f d u r a b l e g o o d s ..............
52
9 8 .7 7 1
1 0 0 .1 4 4
9 8 .5 3 1
9 8 .9 2 0
9 9 .9 1 5
1 0 0 .7 5 3
1 0 0 .9 9 0
1 2 7 .6 5 6
1 2 4 .3 1 9
Im p o rts o f n o n d u r a b le g o o d s ....
53
1 2 9 .7 2 2
1 4 1 .5 3 2
1 3 9 .5 7 2
1 3 7 .4 0 6
1 4 4 .0 8 4
1 4 7 .3 2 2
1 3 7 .3 1 8
1 3 6 .7 6 7
1 3 6 .6 4 2
Im p o rts o f n o n p e tro le u m g o o d s
54
1 0 2 .4 3 6
1 0 3 .9 0 2
1 0 3 .7 3 1
1 0 3 .2 6 4
1 0 3 .4 5 2
1 0 4 .2 9 7
1 0 4 .5 9 4
E x p o r t s o f d u r a b l e g o o d s .............
E x p o r ts o f a g ric u ltu r a l g o o d s
48
E x p o r ts of n o n a g ric u ltu r a l
E x p o r ts o f n o n a g ric u ltu r a l
I m p o r t s o f d u r a b l e g o o d s ..............
52
1 2 5 .5 1 9
1 3 6 .8 5 2
I m p o r ts o f n o n d u r a b le g o o d s ....
53
1 2 4 .2 6 7
1 2 6 .1 7 2
1 2 6 .9 9 9
1 2 6 .8 3 0
1 2 5 .8 8 3
I m p o rts o f n o n p e tro le u m g o o d s
54
1 2 5 .7 6 8
1 3 5 .2 4 1
1 2 9 .3 2 7
1 3 3 .1 3 1
1 3 4 .4 2 5
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
1 0 3 .6 2 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.
D-36
National Data
March 2007
Table 4.2.5. Exports and Imports of Goods and Services
by Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services
by Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Exports of goods and
services..........................
Exports of goods 1....................
F o o d s , f e e d s , a n d b e v e r a g e s ....
1 1,303.1
2
907.5
3
5 9 .0
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
2006
I
II
L in e
III
1,466.1
1,352.4
1,405.4
1,448.1
1,488.3
1,522.7
1,035.5
944.3
989.3
1,019.1
1,055.8
1,077.6
Exports of goods 1....................
5 9 .8
6 2 .2
6 5 .7
7 0 .1
2006
IV
Exports of goods and
services..........................
66.8
2005
6 9 .1
I n d u s tr ia l s u p p li e s a n d
F o o d s , f e e d s , a n d b e v e r a g e s ....
1 1,196.1
2
843.2
2005
2006
IV
I
II
III
IV
1,302.7
1,228.4
1,269.3
1,288.5
1,310.0
1,343.1
931.4
870.8
906.2
919.5
940.4
959.7
4 9 .1
5 1 .0
5 3 .4
5 5 .1
5 2 .4
1 7 6 .1
1 8 6 .7
1 9 3 .1
1 9 4 .6
1 9 9 .1
3
4 8 .6
5 3 .0
4
1 7 9 .7
1 9 3 .4
In d u s tr ia l s u p p li e s a n d
m a t e r i a l s ...............................................
4
D u r a b l e g o o d s .................................
5
N o n d u r a b l e g o o d s .......................
6
2 2 7 .5
2 6 7 .3
2 3 0 .0
2 4 8 .0
2 6 6 .9
7 9 .8
9 8 .9
8 5 .6
9 1 .1
9 7 .5
1 4 7 .7
1 6 8 .4
1 4 4 .5
1 5 6 .9
1 6 9 .5
2 7 6 .0
2 7 8 .1
m a t e r i a l s ...............................................
101.0
1 0 5 .9
D u r a b l e g o o d s .................................
5
6 2 .9
6 9 .3
6 6 .3
6 7 .6
6 8 .4
6 9 .1
7 2 .3
1 7 5 .0
1 7 2 .2
N o n d u r a b l e g o o d s ........................
6
1 1 6 .9
1 2 4 .3
1 0 9 .9
1 1 9 .3
1 2 5 .0
1 2 5 .7
1 2 7 .0
/
3 7 0 .9
4 2 1 .1
3 9 4 .4
4 0 9 .6
4 1 6 .1
4 2 1 .8
4 3 6 .9
4 9 .8
5 9 .5
5 3 .6
5 9 .8
5 6 .4
5 6 .4
6 5 .4
10
2 6 5 .5
2 9 9 .5
2 8 2 .6
2 8 8 .8
2 9 8 .5
3 0 4 .2
3 0 6 .4
11
9 5 .2
1 0 2 .9
1 0 0 .5
101.2
100.0
1 0 6 .2
1 0 4 .0
12
1 1 3 .7
1 2 5 .8
1 1 7 .8
122.2
1 2 2 .5
1 2 7 .0
1 3 1 .5
7 3 .3
C a p ita l g o o d s , e x c e p t
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
7
3 6 2 .7
4 1 5 .1
3 8 4 .3
4 0 0 .6
4 0 9 .3
4 1 7 .0
4 3 3 .3
6 0 .8
7 5 .5
66.1
7 4 .9
7 1 .5
7 1 .8
8 3 .9
C iv ilia n a ir c r a f t, e n g i n e s , a n d
p a r t s ..................................................
C o m p u te r s , p e rip h e ra ls , a n d
p a r t s ..................................................
O t h e r ......................................................
a u t o m o t i v e ..........................................
C iv ilia n a ir c r a f t, e n g i n e s , a n d
8
p a r t s ..................................................
8
C o m p u te rs , p e rip h e ra ls , a n d
9
10
4 5 .5
4 7 .6
4 5 .8
4 7 .0
4 7 .8
4 7 .4
4 8 .3
2 5 6 .4
2 9 1 .9
2 7 2 .4
2 7 8 .7
2 9 0 .0
2 9 7 .8
3 0 1 .2
A u to m o ti v e v e h i c l e s , e n g i n e s ,
p a rts
2...............................................
O t h e r ........................................................
q
A u to m o ti v e v e h i c l e s , e n g i n e s ,
a n d p a r t s .............................................
11
9 8 .6
1 0 7 .8
1 0 4 .5
1 0 5 .5
1 0 4 .7
1 1 1 .5
1 0 9 .5
12
1 1 5 .7
1 2 9 .7
120.0
1 2 4 .9
1 2 6 .0
1 3 1 .6
1 3 6 .2
C o n su m er goods, except
a n d p a r t s ...............................................
C o n su m er goods, except
a u t o m o t i v e ..........................................
a u t o m o t i v e ..........................................
D u r a b l e g o o d s .................................
13
6 2 .5
7 1 .5
6 5 .3
6 7 .8
7 0 .3
7 2 .5
7 5 .5
D u r a b l e g o o d s .................................
13
6 1 .5
6 9 .7
6 4 .2
6 6 .7
6 8 .7
7 0 .3
N o n d u r a b l e g o o d s ........................
14
5 3 .2
5 8 .1
5 4 .7
5 7 .0
5 5 .7
5 9 .1
6 0 .7
N o n d u r a b l e g o o d s ........................
14
5 2 .2
5 6 .1
5 3 .7
5 5 .5
5 3 .9
5 6 .7
5 8 .2
O t h e r .............................................................
15
4 4 .1
4 8 .9
4 5 .6
4 8 .2
4 6 .4
4 9 .7
5 1 .3
O t h e r ...............................................................
15
3 9 .6
4 2 .3
4 0 .6
4 2 .6
4 0 .3
4 2 .5
4 3 .9
16
395.6
430.7
408.1
416.0
429.0
432.5
445.1
Exports of services 1.................
383.9
17
1 8 .1
1 6 .4
1 6 .7
1 6 .9
1 6 .3
1 5 .6
1 6 .8
a g e n c y s a l e s c o n t r a c t s .............
Exports of services 1................
T r a n s f e r s u n d e r U .S . m ilita ry
16
352.9
371.8
357.8
363.6
369.5
370.3
17
1 7 .5
1 5 .3
1 5 .9
1 6 .0
1 5 .3
1 4 .5
1 5 .5
7 8 .7
T r a n s f e r s u n d e r U .S . m ilita ry
a g e n c y s a l e s c o n t r a c t s .............
T r a v e l .............................................................
18
8 1 .7
8 6 .4
8 1 .5
8 2 .8
86.6
8 6 .7
8 9 .3
T r a v e l...............................................................
18
7 4 .8
7 5 .9
7 3 .2
7 4 .0
7 5 .6
7 5 .3
P a s s e n g e r f a r e s ....................................
19
2 0 .9
2 1 .7
2 1 .5
2 1 .9
2 1 .3
2 1 .5
22.2
P a s s e n g e r f a r e s ....................................
19
1 5 .2
1 5 .7
1 6 .1
1 6 .5
1 5 .4
1 5 .2
1 5 .7
O t h e r t r a n s p o r t a t i o n .........................
4 2 .2
4 8 .3
4 5 .0
4 6 .7
4 8 .9
4 8 .9
4 8 .7
O t h e r t r a n s p o r t a t i o n ...........................
3 3 .9
3 6 .5
3 3 .3
3 5 .5
3 6 .6
3 6 .4
3 7 .7
O t h e r p r i v a t e s e r v i c e s ....................
20
21
22
O t h e r .............................................................
23
R o y a l t i e s a n d l i c e n s e f e e s ...........
Imports of goods and
services..........................
5 7 .4
6 2 .1
5 9 .7
6 0 .3
6 2 .5
6 2 .3
6 3 .3
5 1 .1
5 3 .6
5 2 .4
5 2 .5
5 4 .0
5 3 .5
5 4 .4
1 5 8 .2
1 7 8 .1
1 6 6 .6
1 7 0 .0
1 7 5 .7
1 7 9 .8
1 8 7 .0
O t h e r p r i v a t e s e r v i c e s ......................
20
21
22
1 4 7 .0
1 6 0 .9
1 5 3 .7
1 5 5 .2
1 5 8 .9
1 6 1 .6
1 6 8 .0
1 7 .0
1 7 .7
1 7 .2
1 7 .4
1 7 .7
1 7 .8
1 7 .8
O t h e r ...............................................................
23
1 4 .1
1 4 .5
1 4 .0
1 4 .2
1 4 .4
1 4 .5
1 4 .8
R e s i d u a l .............................................................
24
- 6 .3
-
- 9 .5
- 7 .3
-
- 9 .1
-8 .3
24
2,019.9
2,229.4
2,127.8
2,170.6
2,229.8
2,290.1
2,226.9
Imports of goods 1....................
25
1,699.0
1,880.0
1,799.3
1,832.6
1,879.0
1,938.8
1,869.7
F o o d s , f e e d s , a n d b e v e r a g e s ....
26
68.1
7 5 .3
7 0 .6
7 4 .1
7 3 .2
7 6 .4
7 7 .4
I n d u s tr ia l s u p p l i e s a n d
R o y a l t i e s a n d l i c e n s e f e e s ...........
8.2
8.2
Imports of goods and
services..........................
2b
1,815.3
1,921.4
1,865.0
1,905.9
1,912.7
1,938.8
1,928.1
Imports of goods 1.....................
26
1,549.9
1,641.9
1,595.8
1,631.9
1,631.7
1,660.1
1,644.0
F o o d s , f e e d s , a n d b e v e r a g e s ....
27
5 9 .8
6 3 .7
6 1 .2
6 3 .6
28
6 2 .8
6 4 .4
6 4 .2
In d u s tr ia l s u p p li e s a n d
m a te ria ls , e x c e p t p e tro le u m
a n d p r o d u c t s ......................................
27
2 6 4 .9
2 9 1 .9
2 9 3 .6
2 8 7 .5
2 8 7 .9
3 0 3 .7
2 8 8 .5
m a te ria ls , e x c e p t p e tro le u m
D u r a b l e g o o d s .................................
28
1 6 4 .0
a n d p r o d u c t s ......................................
2 1 5 .2
2 2 3 .7
2 2 2 .4
2 2 3 .5
222.8
2 3 0 .4
2 1 8 .2
N o n d u r a b l e g o o d s ........................
29
1 3 0 .0
1 2 9 .3
1 5 3 .2
1 3 4 .4
1 2 8 .4
1 2 9 .9
1 2 4 .6
D u r a b l e g o o d s .................................
29
1 1 4 .5
1 2 5 .7
1 1 9 .0
1 2 5 .8
1 2 3 .6
1 3 0 .6
1 2 2 .7
P e t r o l e u m a n d p r o d u c t s ................
30
2 5 1 .9
3 0 1 .7
2 9 2 .6
2 8 8 .5
3 1 7 .2
3 3 6 .7
2 6 4 .5
N o n d u r a b l e g o o d s .......................
30
1 0 0 .9
9 9 .4
1 0 4 .0
9 9 .1
100.6
101.1
9 6 .8
P e t r o l e u m a n d p r o d u c t s .................
31
1 4 1 .0
1 3 7 .7
1 4 5 .5
1 4 3 .7
1 3 6 .7
1 3 9 .0
1 3 1 .3
32
4 1 8 .5
4 6 6 .6
4 3 4 .0
4 5 0 .5
4 6 3 .1
4 7 8 .0
4 7 4 .8
33
2 2 .7
2 4 .4
22.1
2 4 .5
2 3 .6
2 3 .3
2 6 .0
1 3 4 .8
1 6 2 .6
1 4 0 .4
1 5 3 .1
1 5 9 .6
1 7 3 .8
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
31
3 7 9 .2
4 1 9 .3
3 8 9 .9
4 0 4 .4
4 1 5 .6
4 2 9 .9
4 2 7 .3
32
2 5 .8
2 8 .7
2 5 .4
2 8 .4
2 7 .7
2 7 .6
3 1 .0
C iv ilia n a ir c r a f t , e n g i n e s , a n d
p a r t s ..................................................
C a p ita l g o o d s , e x c e p t
a u t o m o t i v e ..........................................
C o m p u te r s , p e rip h e ra ls , a n d
C iv ilia n a ir c r a f t, e n g i n e s , a n d
p a r t s ..................................................
p a r t s ..................................................
33
9 3 .3
O t h e r .......................................................
34
2 6 0 .2
35
2 3 9 .5
101.6
1 0 1 .4
1 0 4 .4
101.0
9 4 .2
9 9 .5
2 8 9 .0
2 7 0 .4
2 7 6 .5
2 8 6 .4
2 9 7 .9
2 9 5 .4
2 5 7 .2
2 5 0 .4
2 5 8 .3
2 5 8 .2
2 5 3 .7
2 5 8 .5
C o m p u te rs , p e rip h e ra ls , a n d
p a rts
2...............................................
O t h e r ........................................................
A u to m o ti v e v e h i c l e s , e n g i n e s ,
a n d p a r t s .............................................
C o n su m er goods, except
a n d p a r t s ...............................................
a u t o m o t i v e ..........................................
M
35
2 6 2 .7
2 8 8 .5
2 7 3 .3
2 7 8 .4
2 8 6 .8
2 9 6 .1
2 9 2 .8
36
2 3 1 .2
2 4 7 .4
2 4 1 .4
2 4 9 .6
2 4 8 .7
2 4 3 .4
2 4 7 .8
A u to m o ti v e v e h i c l e s , e n g i n e s ,
36
4 0 7 .3
4 4 3 .6
4 1 5 .3
4 2 4 .6
4 3 0 .7
4 4 9 .2
4 6 9 .7
D u r a b l e g o o d s .................................
37
2 1 9 .8
2 4 0 .3
2 2 5 .7
2 3 2 .4
2 3 0 .8
2 4 1 .7
2 5 6 .3
3/
4 0 9 .2
4 4 3 .1
4 1 7 .6
4 2 6 .1
4 3 2 .0
4 4 7 .6
N o n d u r a b l e g o o d s ........................
38
1 8 7 .5
2 0 3 .3
1 8 9 .5
1 9 2 .2
1 9 9 .9
2 0 7 .5
2 1 3 .4
D u r a b l e g o o d s .................................
38
2 2 7 .4
2 4 6 .3
2 3 4 .1
2 4 0 .2
2 3 7 .6
2 4 6 .7
2 6 0 .5
O t h e r .............................................................
39
88.1
9 1 .0
8 6 .9
9 5 .1
9 6 .2
8 9 .2
8 3 .6
N o n d u r a b l e g o o d s ........................
39
1 8 2 .4
1 9 7 .5
1 8 4 .3
1 8 6 .8
1 9 4 .9
2 0 1 .4
2 0 6 .9
O t h e r ..............................................................
40
8 1 .9
8 2 .4
7 9 .4
8 7 .0
8 7 .4
8 0 .3
7 5 .0
Imports of services 1.................
41
267.5
281.8
271.7
276.6
283.2
281.3
286.1
42
Imports of services 1.................
40
320.9
349.3
328.5
338.1
350.8
351.3
357.2
D ir e c t d e f e n s e e x p e n d i t u r e s ......
41
3 0 .1
3 0 .7
3 0 .0
3 0 .0
3 0 .6
3 1 .1
3 1 .1
T r a v e l .............................................................
7 0 .7
C o n su m er g o o d s, ex cep t
a u t o m o t i v e ..........................................
4 6 6 .6
42
6 9 .2
7 1 .0
6 8 .5
68.6
7 2 .7
7 2 .1
D ir e c t d e f e n s e e x p e n d i t u r e s .......
1 9 .8
1 9 .2
1 9 .9
1 9 .7
1 9 .2
1 9 .1
1 9 .0
P a s s e n g e r f a r e s ....................................
43
2 6 .1
2 8 .2
2 6 .6
2 7 .0
2 9 .1
2 7 .7
2 8 .9
T r a v e l..............................................................
43
5 5 .5
5 4 .9
5 5 .5
5 4 .7
5 6 .7
5 3 .9
5 4 .2
O t h e r t r a n s p o r t a t i o n .........................
44
6 2 .1
66.0
6 4 .6
6 5 .3
6 5 .9
66.8
6 6 .3
P a s s e n g e r f a r e s ....................................
44
2 1 .7
22.2
21.8
2 1 .9
2 3 .1
21.8
22.2
4 8 .6
5 0 .0
R o y a l t i e s a n d l i c e n s e f e e s ...........
45
2 4 .5
2 7 .0
2 5 .0
2 7 .3
2 7 .4
2 6 .9
2 6 .3
O t h e r t r a n s p o r t a t i o n ...........................
45
4 8 .4
O t h e r p r i v a t e s e r v i c e s ....................
46
9 8 .7
1 1 5 .8
1 0 3 .4
1 0 9 .4
1 1 4 .5
1 1 7 .4
1 2 1 .9
R o y a l t i e s a n d l i c e n s e f e e s ...........
46
21.8
O t h e r .............................................................
47
10.2
1 0 .3
1 0 .4
1 0 .7
1 0 .7
O t h e r p r i v a t e s e r v i c e s ......................
47
9 3 .1
O t h e r ..............................................................
48
49
E x p o r t s o f d u r a b l e g o o d s ..............
E x p o rts o f n o n d u ra b le g o o d s ....
3
10.6
10.6
Addenda:
E x p o r t s o f d u r a b l e g o o d s .............
48
6 2 5 .6
7 1 7 .7
6 6 2 .5
6 8 9 .1
7 0 5 .0
7 2 6 .8
7 4 9 .9
R e s i d u a l .............................................................
E x p o r t s o f n o n d u r a b l e g o o d s ...
49
2 8 1 .9
3 1 7 .8
2 8 1 .8
3 0 0 .3
3 1 4 .1
3 2 9 .0
3 2 7 .7
Addenda:
5 1 .9
5 1 .1
5 2 .8
5 3 .7
22.0
2 3 .8
2 3 .7
2 3 .1
1 0 4 .1
9 7 .1
9 9 .8
1 0 3 .2
1 0 4 .7
8 .7
8 .7
8 .7
8 .7
8 .7
8 .7
- 1 7 .5
- 3 9 .8
- 1 8 .6
-2 8 .3
-3 8 .8
- 4 1 .8
- 5 0 .7
50
6 0 9 .7
6 8 2 .6
6 4 4 .7
6 6 5 .0
6 7 1 .7
6 8 6 .9
7 0 6 .8
51
2 3 6 .2
2 5 3 .0
2 3 1 .0
2 4 5 .4
2 5 1 .5
2 5 7 .4
2 5 7 .8
52
5 3 .5
5 8 .4
5 4 .1
5 7 .1
5 9 .6
5 9 .9
5 7 .1
8.6
2 3 .3
22.6
1 0 8 .8
2
50
6 4 .9
7 3 .4
6 5 .9
6 9 .5
7 3 .1
7 5 .8
7 5 .2
g o o d s .......................................................
51
8 4 2 .7
9 6 2 .1
8 7 8 .4
9 1 9 .8
9 4 6 .0
9 8 0 .0
1 ,0 0 2 .4
E x p o r ts o f a g ric u ltu r a l g o o d s
I m p o r t s o f d u r a b l e g o o d s ..............
52
1 ,0 1 7 .5
1 ,1 2 4 .9
1 ,0 4 9 .9
1 ,0 9 5 .8
1 ,1 4 3 .7
1 ,1 4 7 .9
E x p o r ts o f n o n a g ric u ltu r a l
I m p o r ts o f n o n d u r a b le g o o d s ....
53
6 8 1 .5
7 5 5 .1
7 4 9 .4
7 3 6 .8
7 6 6 .8
7 9 5 .1
7 2 1 .7
g o o d s .......................................................
53
7 9 1 .3
8 7 5 .0
8 1 8 .6
8 5 0 .9
8 6 1 .5
8 8 2 .3
9 0 5 .2
I m p o r ts o f n o n p e tr o le u m g o o d s
54
1 ,4 4 7 .1
1 ,5 7 8 .3
1 ,5 0 6 .7
1 ,5 4 4 .0
1 ,5 6 1 .9
1 ,6 0 2 .1
1 ,6 0 5 .2
I m p o r t s o f d u r a b l e g o o d s ..............
54
1 ,0 3 0 .1
1 ,1 2 3 .1
1 ,0 6 5 .5
1 ,1 0 7 .7
1 ,1 1 3 .1
1 ,1 3 5 .1
1 ,1 3 6 .6
Im p o rts o f n o n d u ra b le g o o d s ....
55
5 2 5 .4
5 3 3 .4
5 3 6 .9
5 3 6 .2
5 3 2 .2
5 3 9 .7
5 2 5 .6
Im p o rts o f n o n p e tro le u m g o o d s
56
1 ,4 1 2 .7
1 ,5 1 9 .1
1 ,4 5 2 .7
1 ,4 9 5 .4
1 ,5 1 0 .0
1 ,5 3 6 .3
1 ,5 3 4 .9
E x p o r ts of a g ric u ltu r a l g o o d s
E x p o r ts of n o n a g ric u ltu r a l
1, 112.2
1 . E x p o r ts a n d im p o r ts o f c e r ta i n g o o d s , p rim a rily m ilita ry e q u ip m e n t p u r c h a s e d a n d s o ld b y t h e F e d e ra l G o v e r n m e n t,
a r e in c lu d e d in s e r v i c e s . B e g in n in g w ith 1 9 8 6 , r e p a ir s a n d a lte r a tio n s o f e q u ip m e n t a r e r e c la s s if ie d fro m g o o d s to s e r v i c e s .
2 . I n c lu d e s p a r t s o f f o o d s , f e e d s , a n d b e v e r a g e s , o f n o n d u r a b le in d u s tria l s u p p li e s a n d m a te r ia ls , a n d o f n o n d u r a b le
n o n a u to m o tiv e c o n s u m e r g o o d s .
1 . E x p o r ts a n d im p o r ts o f c e r ta i n g o o d s , p rim a rily m ilita ry e q u ip m e n t p u r c h a s e d a n d s o ld b y t h e F e d e ra l G o v e r n m e n t,
a r e in c lu d e d in s e r v i c e s . B e g in n in g w ith 1 9 8 6 , r e p a ir s a n d a lte r a tio n s of e q u ip m e n t a r e r e c la s s if ie d f ro m g o o d s to s e r v i c e s .
2 . T h e q u a n tity in d e x for c o m p u te r s c a n b e u s e d to a c c u r a te l y m e a s u r e t h e r e a l g ro w th o f t h is c o m p o n e n t. H o w ev e r,
b e c a u s e c o m p u te r s e x h ib it r a p id c h a n g e s in p r ic e s r e la tiv e to o th e r p r ic e s in t h e e c o n o m y , t h e c h a in e d - d o l la r e s t i m a t e s
s h o u ld n o t b e u s e d to m e a s u r e t h e c o m p o n e n t's r e la tiv e i m p o r ta n c e o r its c o n trib u tio n to th e g ro w th r a te o f m o r e a g g r e g a t e
s e r i e s ; a c c u r a t e e s t i m a t e s of t h e s e c o n trib u tio n s a r e s h o w n in ta b le 4 . 2 . 2 . a n d r e a l g r o w th r a t e s a r e s h o w n in ta b le 4 . 2 . 1 .
3 . I n c lu d e s p a r t s o f fo o d s , f e e d s , a n d b e v e r a g e s , o f n o n d u r a b le in d u s tria l s u p p li e s a n d m a te r ia ls , a n d o f n o n d u r a b le
n o n a u to m o tiv e c o n s u m e r g o o d s .
N ote . C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s th e p r o d u c t o f t h e c h a in - ty p e q u a n tity in d e x a n d th e 2 0 0 0 c u rr e n td o lla r v a lu e o f t h e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 1 0 0 . B e c a u s e t h e f o rm u la fo r th e c h a in - ty p e q u a n tity in d e x e s u s e s
w e i g h ts o f m o r e th a n o n e p e rio d , t h e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . F o r e x p o r ts a n d for
im p o r ts , t h e r e s id u a l lin e is th e d if f e r e n c e b e tw e e n t h e a g g r e g a t e lin e a n d t h e s u m of t h e m o s t d e ta il e d lin e s.
March 2007
Survey
of
D-37
C u r r e n t B u s in e s s
5. Saving and Investment
Table 5.3.1. Percent Change From Preceding Period
in Real Private Fixed Investment by Type
Table 5.1. Saving and Investment
[Billions of dollars]
[P e r c e n t]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
2006
2005
L in e
II
IV
G r o s s s a v i n g .......................................
1 ,6 1 2 .0
1 ,6 2 1 .2
1 ,8 8 0 .5
1 ,7 8 9 .7
1 ,7 7 8 .1
N e t s a v i n g ..........................................................
7 .2
5 8 .7
3 3 2 .4
2 1 6 .9
1 9 6 .1
N e t p r i v a t e s a v i n g ....................................
3 1 9 .7
P e r s o n a l s a v i n g ..................................
-3 4 .8
3 3 9 .5
4 6 6 .7
3 5 3 .9
3 7 9 .3
- 2 8 .5
- 2 9 .7
- 1 3 0 .8
- 1 3 3 .0
2005
2006
IV
Private fixed investment....
1
2
2 .9
2.8
7 .3
5 .2
w ith in v e n t o r y v a l u a t i o n a n d
C o m m e rc ia l a n d h e a lth c a r e
4
c a p ita l c o n s u m p tio n
M a n u f a c t u r i n g ..................................
5
6
- 6 .7
/
11.0
8
- 5 .2
1 3 .0
102.1
- 1 1 4 .8
Nonresidential............................
Structures...............................
U n d i s t r i b u t e d c o r p o r a t e p r o f i ts
a d j u s t m e n t s .....................................
3 5 4 .5
3 6 7 .9
4 9 6 .4
4 8 4 .6
5 1 2 .4
P o w e r a n d c o m m u n i c a t i o n . . ..
U n d i s t r i b u t e d p r o f i t s .................
5 4 2 .5
5 7 2 .7
668.0
7 0 4 .3
7 1 3 .0
M in in g e x p l o r a t i o n , s h a f t s ,
I n v e n to r y v a l u a t i o n
a n d w e l l s .........................................
a d j u s t m e n t ..................................
- 3 2 .6
- 3 9 .2
- 2 2 .9
-5 8 .9
-3 8 .2
- 1 6 5 .6
- 1 4 8 .6
- 1 6 0 .8
- 1 6 2 .4
O th e r s tr u c tu re s
C a p ita l c o n s u m p tio n
1.........................
Equipment and software
a d j u s t m e n t ..................................
- 1 5 5 .5
- 1 6 0 .5
- 1 7 0 .2
W a g e a c c ru a ls le s s
0.0
d i s b u r s e m e n t s ...............................
0.0
1 2 .5
0.0
0.0
0.0
8.8
6.8
-
2 5 .6
-
1 1 .3
- 9 .7
2.8
1 2 .4
1 4 .3
1 6 .0
-1 1 .5
11.1
2 2 .4
9
8 .9
6.6
11.1
2.8
10
8 .5
9 .0
7 .0
- 3 0 9 .2
- 2 6 3 .6
- 1 4 7 .0
-1 6 3 .1
- 1 7 3 .0
- 3 .3
- 1 7 .2
1 2 .7
2 6 .1
O t h e r 3.............................................
13
C o n s u m p t i o n o f f i x e d c a p i t a l .........
1 ,6 0 4 .8
1 ,5 7 6 .2
1 .5 6 2 .5
1 .5 4 8 .0
1 .5 7 2 .8
1 .5 8 2 .0
1 ,6 0 2 .1
I n d u s t r i a l e q u i p m e n t ...................
14
8.1
P r i v a t e ..............................................................
1 ,3 5 2 .6
1 ,3 1 0 .6
1 .3 0 7 .5
1 ,2 8 8 .9
1 .3 0 9 .8
1 ,3 1 4 .4
1 ,3 2 9 .0
T r a n s p o r t a t i o n e q u i p m e n t ......
15
1 2 .9
D o m e s t i c b u s i n e s s ..........................
1 ,0 5 9 .1
1 ,0 5 0 .4
1 ,0 4 4 .4
1 .0 3 5 .1
1 ,0 5 0 .4
1 .0 5 3 .0
1 ,0 6 3 .3
O t h e r e q u i p m e n t 4........................
16
7 .0
H o u s e h o l d s a n d i n s t i t u t i o n s ....
2 9 3 .5
2 6 0 .1
2 6 3 .1
2 5 3 .8
2 5 9 .5
2 6 1 .4
2 6 5 .7
Residential.................................
17
G o v e r n m e n t ..................................................
2 5 2 .2
2 6 5 .7
2 5 5 .0
2 5 9 .1
2 6 2 .9
2 6 7 .6
2 7 3 .0
F e d e r a l ......................................................
9 9 .0
1 0 4 .3
1 0 0 .7
1 0 2 .4
1 0 3 .7
1 0 5 .1
1 0 6 .0
S t a t e a n d l o c a l .....................................
1 5 3 .2
1 6 1 .4
1 5 4 .3
1 5 6 .7
1 5 9 .2
1 6 2 .5
1 6 7 .0
8.6
8.6
10.6
- 5 .5
5 .6
1 0 .3
- 7 .6
4 .8
e q u i p m e n t ...............................
S o ftw a re
Structures..............................
P e r m a n e n t s i t e .................................
M u ltifa m ily ......................................
O th e r s tr u c tu re s
G r o s s d o m e s t i c i n v e s t m e n t ..................
1 ,8 2 5 .5
1 ,8 0 1 .6
5.........................
Equipment..............................
2 ,4 5 4 .5
2 ,6 4 2 .8
2 ,5 6 3 .6
2 .6 3 4 .7
2 , 668.0
2 .6 6 8 .5
2 ,6 0 0 .1
i n v e s t m e n t ..............................................
2 ,0 5 7 .4
2,211.6
2 .1 5 4 .5
2 .2 1 4 .8
2 .2 3 7 .1
2 .2 3 5 .5
2 ,1 5 9 .0
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 9 7 .1
4 0 9 .1
4 1 9 .9
4 3 0 .9
4 3 3 .0
4 4 1 .1
7 .0
3 .5
1 .7
10.0
2 3 .6
3 5 .1
7 .3
5 .5
1 5 .6
- 1 .4
7 .7
- 3 .2
21.8
-
3 .7
1.1
10.0
0.6
2 4 .9
4 .7
11
12
18
19
20
21
22
1 7 .9
1 6 .6
5 .8
6 .7
7 .2
8.0
6.0
1 4 .1
5 .3
23
5 .0
24
6 .3
25
8 .9
26
2 7 .1
2.8
12.2
4 .2
22.0
6.0
8 .3
3 .0
3 1 .6
1 6 .2
-3 .6
21.8
6.6
2 7 .7
-4 .2
-0 .9
- 4 .3
-
0 .4
-
6.6
-0 .3
-
-0 .5
-
11.1
11.2
0.8
1.8
3 .8
- 0 .9
- 1 8 .7
- 1 9 .1
- 1 8 .9
-1 9 .3
-2 5 .0
-2 9 .7
- 1 9 .2
-2 8 .6
-3 4 .5
2.6
1.1
1 2 .5
2 5 .7
- 2 .7
9 .9
1 3 .6
0.1
2.8
6.6
2 .9
1 5 .6
- 1 .4
1.2
7 .9
3 .9
- 1 .7
-
- 7 .8
- 5 .4
- 1 4 .0
- 1 7 .6
11.6
2.2
1 3 .6
7 .4
8 .5
-
0.2
1 3 .6
22.8
4 .7
1 2 .4
-
1.1
9 .3
- 9 .0
-
1 .5
-
- 2 .9
7 .8
- 7 .5
-
1 2 .3
0.0
2.2
- 1 .3
8.0
- 1 2 .9
Addenda:
P r i v a t e f ix e d i n v e s t m e n t in
G r o s s p riv a te d o m e s tic
C a p ita l a c c o u n t t r a n s a c tio n s (n e t )
2.....................................
S i n g l e f a m i l y ...............................
1 ,8 1 8 .6
4 .9
2 8 .0
2.0
C o m p u te r s a n d p e rip h e ra l
S t a t e a n d l o c a l .....................................
1 .6 9 5 .4
0.8
2.1
1 5 .7
1 1 .7
2 8 .0
F e d e r a l ......................................................
1 ,6 8 3 .1
- 8 .5
2 0 .3
- 1 8 3 .3
l e n d i n g , N I P A s ............................
- 2 .4
7 .1
- 1 3 6 .9
tra n s a c tio n s , a n d n e t
8 .7
1.2
10.0
-
- 1 .7
- 1 3 4 .3
c a p ita l a c c o u n t
1.6
3 .2
- 2 8 0 .8
G r o s s d o m e s tic in v e s tm e n t,
-
4 .4
12.0
- 3 1 2 .5
10.2
8.2
1 3 .7
IV
3 2 .0
1 2 .4
N e t g o v e r n m e n t s a v i n g .......................
-
III
II
I n f o r m a tio n p r o c e s s i n g
e q u i p m e n t a n d s o f t w a r e ...
5 0 .0
3
I
7 .5
6.8
1.1
- 0.8
21.1
-
2006
2005
1
4 3 1 .2
2.1
4 .4
s t r u c t u r e s .............................................
-
2 .4
-
1.8
-
P r i v a t e f ix e d i n v e s t m e n t in
e q u i p m e n t a n d s o f t w a r e .........
7 .6
- 3 .1
P r i v a t e f ix e d i n v e s t m e n t in n e w
N e t le n d i n g o r n e t b o r r o w in g ( - ) ,
N I P A s .................................................................
- 7 7 5 .8
- 8 7 0 .2
- 8 2 3 .1
- 8 4 6 .1
- 8 6 8 .7
S t a t i s t i c a l d i s c r e p a n c y ...........
7 1 .0
7 4 .3
-6 1 .9
3 5 .8
2 3 .5
G r o s s p r i v a t e s a v i n g .............................
1 ,6 7 2 .3
1 .6 4 7 .0
1 .7 5 5 .7
1 ,6 6 3 .7
1 ,6 9 3 .7
G r o s s g o v e r n m e n t s a v i n g ................
-6 0 .2
- 2 5 .8
1 2 4 .8
1 2 6 .0
8 4 .4
210.1
- 1 6 2 .9
- 4 4 .6
-5 9 .4
- 6 7 .9
N o n r e s i d e n t i a l s t r u c t u r e s ........
27
6.1
1.0
R e s i d e n t i a l s t r u c t u r e s ................
28
8 .9
stru c tu re s
6.........................................
8 .7
1 1 .9
-3 .0
5 .9
8.6
1 .5
20.2
-1 2 .3
-
6.2
- 1 4 .0
1 5 .6
- 0 .9
-1 7 .7
- 2 1 .9
A ddenda:
F e d e r a l .....................................................
-
S t a t e a n d l o c a l ....................................
1 4 9 .9
N e t d o m e s t i c i n v e s t m e n t .................
8 4 9 .7
.
1 6 9 .4
1 8 5 .4
1 5 2 .3
1 001.1
1 .0 8 6 .7
1 .0 9 5 .2
1 .0 8 6 .5
1 3 .0
12.8
1 4 .4
1 3 .6
1 3 .4
0.1
0 .5
2 .5
1 3 7 .1
1 ,0 6 6 .6
G ro s s s a v in g a s a p e rc e n ta g e
o f g r o s s n a t i o n a l i n c o m e .......
N e t s a v in g a s a p e rc e n ta g e o f
g r o s s n a t i o n a l i n c o m e .............
1.6
1 . C o n s i s ts o f c a p ita l tr a n s f e r s a n d th e a c q u is itio n a n d d is p o s a l of n o n p r o d u c e d n o n f in a n c ia l a s s e t s .
1 .5
1 . C o n s i s ts p rim a rily o f r e lig io u s, e d u c a tio n a l , v o c a tio n a l, lo d g in g , ra ilro a d s , fa r m , a n d a m u s e m e n t a n d r e c r e a t io n a l
s tr u c tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s i o n s o n th e s a l e o f s tr u c tu r e s .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
3 . I n c lu d e s c o m m u n ic a tio n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
9 9 8 .0
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
4 . C o n s i s ts p rim a rily o f fu rn itu re a n d fix tu re s, a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d oilfield
m a c h in e r y , s e r v i c e in d u s try m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e l s e w h e r e c la s s if i e d .
5 . C o n s i s t s p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n ts , d o r m ito r ie s , n e t p u r c h a s e s of u s e d s tr u c tu r e s , a n d
b r o k e r s ' c o m m is s i o n s o n t h e s a l e o f r e s id e n tia l s tr u c tu r e s .
6. E x c l u d e s n e t p u r c h a s e s o f u s e d s tr u c tu r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
D-38
National Data
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
March 2007
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[index numbers, 2000=100]
S e a s o n a lly a d ju s te d
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
L in e
2006
IV
I
II
III
7.5
2.9
8.2
2.8
-1.6
-1.2
-8.5
Nonresidential...........................
Structures..............................
2
C o m m e rc ia l a n d h e a lth c a r e
3
4
M a n u f a c t u r i n g ..................................
5
P o w e r a n d c o m m u n i c a t i o n ...
6
M in i n g e x p l o r a t i o n , s h a f t s ,
a n d w e l l s .......................................
O th e r s tr u c tu re s
1.........................
Equipment and software.......
!
8
4.28
0.19
-0 .0 6
0.22
-0 .1 5
4.51
3.19
8.30
2.72
6.16
-1.56
1.56
1.92
1.50
3.34
2.79
-0.16
0 .4 6
0.21
0 .4 6
0 .7 4
1 .6 1
-0 .1 5
0 .1 5
0 .3 4
0.02
0 .3 2
0 .1 5
- 0 .1 4
0 .0 6
0 .2 3
0 .2 7
0.10
0 .3 1
-0 .2 5
-
0 .3 6
0 .4 8
0 .8 1
0 .0 9
1 .1 6
0 .4 8
0 .1 9
- 0 .1 8
0 .4 2
0 .3 3
0 .7 1
1 .0 3
0 .2 5
0.20
-1.41
7 5 .8 8 8
7 7 .1 9 3
7 9 .3 6 6
8 4 .0 1 7
8 3 .5 8 3
6 9 .4 4 2
6 6 .0 8 2
6 5 .7 9 7
6 9 .9 9 2
7 1 .8 9 5
7 0 .0 8 3
P o w e r a n d c o m m u n i c a t i o n . . ..
6
7 1 .4 7 9
7 3 .4 5 1
6 9 .6 2 6
7 1 .9 8 9
7 2 .8 5 9
7 5 .6 1 9
7 3 .3 3 9
1 3 4 .0 7 8
1 4 8 .9 6 9
1 3 9 .4 5 0
1 4 0 .1 2 8
1 4 9 .0 6 2
1 5 2 .6 4 0
1 5 4 .0 4 4
M in in g e x p l o r a t i o n , s h a f t s ,
a n d w e l l s .........................................
O th e r s tr u c tu re s
1 9 6 .1 4 3
1 2 5 .4 6 8
1 2 8 .0 0 4
1 1 1 .3 3 9
1 0 8 .7 5 3
1 1 1 .2 0 5
1 0 8 .9 5 8
I n d u s t r i a l e q u i p m e n t ...................
14
9 0 .1 4 7
9 5 .5 7 5
9 4 .4 6 8
9 3 .6 0 2
9 6 .6 4 0
9 6 .6 9 1
T r a n s p o r t a t i o n e q u i p m e n t .......
15
9 0 .3 8 2
9 0 .7 7 1
8 9 .0 3 0
9 4 .6 3 5
8 8 .6 9 8
9 1 .5 7 1
8 8 .1 8 0
O t h e r e q u i p m e n t 4........................
16
1 1 2 .2 9 0
1 1 9 .6 7 8
1 1 5 .2 2 4
1 1 7 .5 9 7
1 1 9 .7 0 2
1 2 0 .8 3 7
1 2 0 .5 7 8
Residential..................................
17
136.050
130.344
138.495
138.391
134.368
127.601
121.015
-1 .0 5
Structures...............................
18
136.160
130.306
138.599
138.440
134.378
127.535
120.871
P e r m a n e n t s i t e .................................
19
1 4 1 .6 8 1
1 3 3 .8 2 0
1 4 6 .3 0 7
1 4 6 .5 9 8
1 3 9 .6 9 2
1 2 9 .9 8 5
1 1 9 .0 0 5
20
21
22
1 4 2 .0 1 3
1 3 1 .2 9 1
1 4 6 .3 9 6
0 .1 8
0 .7 9
0 .0 6
2 ....................................
12
0 .5 7
0 .6 3
0 .2 6
1.12
0 .3 9
0 .5 6
0 .7 8
3.............................................
13
0 .6 3
0.68
0 .2 5
2 .4 6
- 0 .8 2
0 .7 8
- 0 .7 1
I n d u s t r i a l e q u i p m e n t ...................
14
0 .6 2
0 .4 6
1 .1 6
- 0 .2 8
0 .9 8
0.02
-0 .4 2
T r a n s p o r t a t i o n e q u i p m e n t .......
15
0 .9 8
0 .0 4
- 1 .8 9
1 .9 0
- 1 .9 1
0 .9 2
O t h e r e q u i p m e n t 4........................
16
0 .5 5
0 .5 1
0 .5 0
0.66
0 .5 6
0 .3 0
-0 .0 7
Residential.................................
17
3.19
-1.60
-7.31
-6.91
18
3.17
-1.62
-0.11
-0.17
-4.33
Structures..............................
-0.36
-0.40
-4.32
-7.30
-6.91
0 .1 9
- 4 .4 6
- 6 .2 8
- 6 .9 1
- 0 .3 9
- 4 .3 9
- 6 .4 7
-7 .2 3
0 .2 9
0 .5 8
- 0 .0 7
0 .1 9
0 .3 2
- 1 .7 0
- 0 .3 6
0.04
0.06
0 .1 4
-0.01
1.02
0.00
-0.01
-0.01
-
Addenda:
C o m p u te r s a n d p e rip h e ra l
e q u i p m e n t ...............................
2......................................
S i n g l e f a m i l y ...............................
P r i v a t e f ix e d i n v e s t m e n t in
1 4 5 .7 4 1
1 3 8 .1 6 0
1 2 7 .0 1 3
1 1 4 .2 5 2
1 5 5 .9 0 9
1 4 5 .5 2 5
1 5 4 .0 7 8
1 5 3 .0 6 6
1 5 5 .9 5 6
1 6 0 .5 3 8
1 2 7 .5 2 7
1 2 4 .7 7 2
1 2 6 .5 9 1
1 2 5 .7 3 8
1 2 6 .0 7 0
1 2 3 .6 3 5
1 2 3 .6 4 6
23
128.239
134.292
131.261
135.523
134.514
133.778
133.351
24
1 1 2 .7 0 7
1 1 2 .6 4 3
1 1 4 .4 9 7
1 1 5 .1 7 0
1 1 4 .6 4 7
1 1 2 .2 8 0
1 0 8 .4 7 6
25
1 0 7 .3 5 2
1 1 4 .4 0 4
1 0 9 .8 2 9
1 1 3 .8 8 2
1 1 3 .4 8 5
1 1 5 .5 8 2
1 1 4 .6 6 7
6.........................................
26
1 0 9 .4 3 9
1 1 0 .7 4 5
1 1 1 .9 4 7
1 1 3 .0 3 1
1 1 2 .5 4 3
1 1 0 .7 5 4
1 0 6 .6 5 2
N o n r e s i d e n t i a l s t r u c t u r e s ........
27
8 0 .2 8 7
8 7 .3 0 3
8 1 .1 4 1
8 2 .8 3 2
8 6 .7 2 9
8 9 .9 2 4
8 9 .7 2 8
R e s i d e n t i a l s t r u c t u r e s ................
28
1 3 3 .4 7 2
1 2 9 .4 5 9
1 3 7 .3 5 7
1 3 7 .8 8 0
1 3 3 .4 1 9
1 2 7 .0 7 9
1 1 9 .4 6 0
5.........................
Equipment..............................
Addenda:
P r i v a t e f ix e d i n v e s t m e n t in
s t r u c t u r e s .............................................
P r i v a t e f ix e d i n v e s t m e n t in
P r i v a t e f ix e d i n v e s t m e n t in n e w
24
3 .3 6
- 0 .0 6
1 .5 2
1 .3 3
- 0 .9 8
- 4 .5 1
- 7 .0 6
25
4 .1 1
2 .9 7
1 .3 1
6.86
- 0 .6 3
3 .3 5
- 1 .4 1
P r i v a t e f ix e d i n v e s t m e n t in
e q u i p m e n t a n d s o f t w a r e ..........
9 5 .3 6 6
1 3 8 .7 7 0
M u ltifa m ily ......................................
O th e r s tr u c tu re s
e q u i p m e n t a n d s o f t w a r e ..........
s t r u c t u r e s .............................................
1 3 0 .3 4 0
1 2 3 .6 5 8
0 .9 4
0.02
114.514
1 2 2 .3 8 3
0 .9 8
- 0 .3 0
8 7 .6 6 9
115.434
1 0 3 .9 4 7
0 .6 4
0.02
8 6 .5 0 0
113.313
1 1 8 .9 2 0
0 .7 5
0 .7 4
8 4 .9 8 8
113.704
1 1 0 .0 6 4
11
23
7 8 .8 2 8
109.653
1 2 4 .8 7 8
e q u i p m e n t ..............................
0 .2 9
7 4 .7 5 5
114.241
1 0 1 .8 8 0
C o m p u te r s a n d p e rip h e ra l
0 .3 1
8 4 .4 9 6
107.180
1 1 7 .0 7 2
e q u i p m e n t a n d s o f t w a r e ...
S o ftw a re
1.02
7 4 .7 7 0
9
13
0 .1 3
1 .3 0
8
I n f o r m a tio n p r o c e s s i n g
O t h e r 3..............................................
2 .1 3
- 1 .6 2
1.........................
Equipment and software.......
7
1 3 0 .1 5 6
- 0 .2 4
- 1 .3 2
89.860
1 9 5 .4 3 7
4 .5 2
2.12
82.893
1 2 7 .0 8 8
1 .5 0
2 .4 4
81.174
1 8 5 .9 5 6
1 .9 5
5.........................
90.044
8 1 .0 4 0
61 7 5 9
1 2 7 .4 3 7
1 .9 5
O th e r s tr u c tu re s
86.819
7 5 .8 7 5
5
1 8 3 .8 3 9
10
19
3
1 7 3 .9 1 3
I n f o r m a tio n p r o c e s s i n g
Equipment..............................
87.404
4
M a n u f a c t u r i n g ..................................
1 2 1 .3 0 7
3.36
M u lt if a m il y ....................................
80.302
C o m m e rc ia l a n d h e a lth c a r e
1 2 8 .7 5 5
-0.62
20
21
22
1 109.708 112.901 111.811 114.033 113.570 113.240 110.760
2 99.326 106.565 101.308 104.606 105.738 108.292 107.623
1 9 0 .3 4 4
6.80
S i n g l e f a m i l y ................................
IV
1 6 3 .2 6 9
1.27
P e r m a n e n t s i t e ................................
III
118169
2.95
O th e r
II
10
4.09
S o ftw a re
2006
I
11
12
9
e q u i p m e n t a n d s o f t w a r e ...
Nonresidential............................
Structures...............................
Percentage points at annual
rates:
2005
IV
Private fixed investment....
1
2006
IV
Percent change at annual rate:
Private fixed investment....
2005
s tr u c tu re s
P r i v a t e f ix e d i n v e s t m e n t in n e w
6.........................................
26
2 .9 8
0 .5 6
3 .7 6
1 .9 8
- 0 .8 5
- 3 .1 8
- 7 .1 1
N o n r e s i d e n t i a l s t r u c t u r e s ........
27
0 .1 8
1 .5 4
1 .9 0
1 .4 8
3 .3 1
2 .7 6
- 0 .1 7
R e s i d e n t i a l s t r u c t u r e s ................
28
2 .8 1
- 0 .9 8
1 .8 7
0 .5 0
- 4 .1 6
- 5 .9 4
- 6 .9 4
s tr u c tu re s
1 . C o n s i s ts p rim a rily o f r e lig io u s, e d u c a tio n a l , v o c a tio n a l, lo d g in g , ra ilro a d s , fa r m , a n d a m u s e m e n t a n d r e c r e a t io n a l s tr u c
tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o t h e r e q u ip m e n t .
3 . I n c lu d e s c o m m u n ic a ti o n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
4 . C o n s i s ts p rim a rily o f fu rn itu re a n d fix tu r e s , a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d oilfie ld m a c h in e ry ,
s e r v i c e in d u s t r y m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e ls e w h e r e c la s s ifie d .
5 . C o n s i s ts p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n ts , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s '
c o m m is s i o n s o n t h e s a l e o f r e s i d e n tia l s tr u c tu r e s .
6. E x c l u d e s
n e t p u r c h a s e s o f u s e d s tr u c t u r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e of s tr u c tu r e s .
1 . C o n s i s ts p rim a rily o f r e lig io u s , e d u c a tio n a l , v o c a tio n a l, lo d g in g , r a ilro a d s , f a rm , a n d a m u s e m e n t a n d r e c r e a t io n a l s tr u c
tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s i o n s o n th e s a l e o f s tr u c tu r e s .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ," o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
3 . I n c lu d e s c o m m u n ic a tio n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
4 . C o n s i s ts p rim a rily o f f u rn itu re a n d fix tu r e s , a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d oilfield m a c h in e r y ,
s e r v i c e in d u s try m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e l s e w h e r e c la s s ifie d .
5 . C o n s i s ts p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n t s , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’
c o m m is s i o n s o n t h e s a l e o f r e s i d e n tia l s tr u c tu r e s .
6. E x c l u d e s
n e t p u r c h a s e s o f u s e d s t r u c t u r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
March 2007
Survey
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, 2000=100]
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
S e a s o n a lly a d ju s te d
L in e
2005
2006
2005
IV
Private fixed investment....
Nonresidential............................
Structures..............................
L in e
2006
I
II
III
134.647
149.967
141.476 145.684 149.432
151.372
2006
153.380
Private fixed investment....
Nonresidential............................
Structures...............................
2006
2005
I
IV
IV
1 110.542 114.161 112.194 113.238 114.074 114.224 115.109
2 103.428 106.359 104.510 105.471 106.266 106.501 107.198
3
2005
II
IV
III
1 2,036.2
2 1,265.7
2,163.5
2,105.8
2,167.7
2,174.8
2,171.4
2,140.2
1,396.4
1,304.3
1,359.2
1,384.3
1,420.8
1,421.3
338.6
410.8
359.7
378.2
406.3
426.9
431.7
1 6 1 .2
3 0 .1
3
C o m m e rc ia l a n d h e a lth c a r e
4
1 2 7 .0 0 1
1 3 6 .6 4 7
1 3 1 .2 1 0
1 3 3 .4 8 2
1 3 5 .6 2 7
1 3 7 .3 1 1
1 4 0 .1 6 5
C o m m e rc ia l a n d h e a lth c a r e
4
1 3 2 .5
1 5 2 .4
1 3 7 .0
1 4 1 .7
1 4 8 .1
1 5 8 .7
M a n u f a c t u r i n g ...................................
5
1 2 2 .9 2 4
1 3 1 .9 3 1
1 2 6 .6 1 5
1 2 9 .0 3 7
1 3 1 .1 3 3
1 3 2 .5 3 6
1 3 5 .0 1 9
M a n u f a c t u r i n g ...................................
5
2 4 .1
2 9 .1
2 6 .6
2 7 .0
2 9 .2
3 0 .3
P o w e r a n d c o m m u n i c a t i o n ...
6
1 2 3 .2 3 3
1 2 9 .0 5 2
1 2 4 .9 8 7
1 2 6 .6 3 7
1 2 8 .1 5 1
1 2 9 .7 3 3
1 3 1 .6 8 6
P o w e r a n d c o m m u n i c a t i o n . . ..
6
4 1 .2
4 4 .4
4 0 .7
4 2 .7
4 3 .7
4 5 .9
4 5 .2
7
7 6 .4
1 0 7 .3
8 9 .3
9 6 .0
1 0 7 .9
1 1 2 .3
1 1 3 .1
M in in g e x p l o r a t i o n , s h a f t s ,
M in in g e x p l o r a t i o n , s h a f t s ,
a n d w e l l s .......................................
O th e r s tr u c tu re s
1.........................
Equipment and software.......
7
2 0 9 .7 3 2
2 6 5 .5 2 3
2 3 6 .2 4 4
2 5 2 .6 9 7
2 6 7 .0 6 0
2 7 1 .4 6 0
2 7 0 .8 7 3
8
1 2 3 .1 1 8
1 3 1 .1 7 6
1 2 6 .4 4 2
1 2 8 .5 5 0
1 3 0 .3 9 5
1 3 1 .7 5 3
1 3 4 .0 0 6
94.134
93.889
93.754
93.887
93.920
93.704
94.046
9
I n f o r m a tio n p r o c e s s i n g
e q u i p m e n t a n d s o f t w a r e ...
S o ftw a re
2 ....................................
O th e r s tr u c tu re s
1.........................
Equipment and software.......
6 4 .3
7 7 .5
66.1
7 0 .8
7 7 .4
7 9 .6
8 2 .1
9
927.1
985.6
944.7
981.0
977.9
994.0
989.6
10
4 5 4 .3
4 8 5 .0
4 6 1 .3
4 8 2 .4
4 7 9 .9
4 8 9 .6
4 8 7 .9
11
12
8 5 .1
8 5 .9
8 7 .2
1 9 4 .0
2 0 9 .0
1 9 6 .9
2 0 3 .6
2 0 7 .0
210.8
2 1 4 .6
13
1 7 5 .2
1 8 9 .4
1 7 8 .4
1 9 0 .8
1 8 7 .1
1 9 1 .7
1 8 8 .1
1 5 5 .1
1 6 9 .0
1 6 3 .4
1 7 0 .1
8
I n f o r m a tio n p r o c e s s i n g
10
8 2 .2 1 8
8 0 .5 4 1
8 1 .3 1 3
8 0 .9 4 0
8 0 .7 3 7
8 0 .4 3 8
8 0 .0 4 8
11
12
5 1 .4 0 7
4 4 .8 1 8
4 8 .6 3 4
4 7 .1 2 5
4 5 .4 4 3
4 3 .8 8 9
4 2 .8 1 7
9 4 .0 6 7
9 4 .9 8 6
9 4 .0 0 9
9 4 .4 3 0
9 5 .0 0 5
9 5 .3 5 4
9 5 .1 5 5
S o ftw a re
9 0 .4 9 2
9 0 .5 2 3
9 0 .7 3 7
9 0 .8 3 2
O t h e r 3.............................................
e q u i p m e n t a n d s o f t w a r e ...
C o m p u te r s a n d p e rip h e ra l
C o m p u te r s a n d p e rip h e ra l
e q u i p m e n t ..............................
a n d w e l l s .........................................
e q u i p m e n t ...............................
2......................................
86.6
8 5 .9
88.0
8 5 .3
O t h e r 3.............................................
13
9 0 .5 6 9
9 0 .3 4 3
9 0 .1 8 6
I n d u s t r i a l e q u i p m e n t ...................
14
1 0 8 .0 6 4
1 1 1 .0 6 8
1 0 8 .9 7 3
1 0 9 .6 5 9
1 1 0 .5 4 4
1 1 2 .3 5 5
I n d u s t r i a l e q u i p m e n t ...................
T r a n s p o r t a t i o n e q u i p m e n t ......
15
1 0 8 .8 8 2
1 0 8 .5 3 0
1 0 7 .9 3 3
1 0 8 .8 6 7
1 0 9 .2 5 7
1 0 6 .8 9 4
1 0 9 .1 0 3
T r a n s p o r t a t i o n e q u i p m e n t .......
15
1 5 8 .3
1 5 8 .5
1 5 4 .6
1 6 5 .7
1 5 5 .9
1 5 7 .5
1 5 4 .8
O t h e r e q u i p m e n t 4........................
16
1 0 8 .1 7 4
1 1 0 .3 1 8
1 0 9 .1 0 0
1 0 9 .8 4 1
1 0 9 .6 0 8
1 1 0 .3 3 9
1 1 1 .4 8 6
O t h e r e q u i p m e n t 4........................
16
1 5 9 .4
1 7 3 .2
1 6 4 .9
1 6 9 .4
1 7 2 .1
1 7 4 .9
1 7 6 .3
Residential.................................
17
126.714
131.774 129.536
130.765
131.696
131.655 132.981
Residential..................................
17
770.4
767.1
801.5
808.5
790.6
750.5
719.0
Structures..............................
18
127.205
132.306
130.063
131.293
132.236
132.182 133.513
Structures...............................
18
761.3
757.3
792.1
798.7
780.8
740.7
709.1
P e r m a n e n t s i t e ...............................
19
1 2 8 .2 8 5
1 3 3 .2 2 3
1 3 0 .8 6 9
1 3 2 .2 4 7
1 3 3 .0 3 4
1 3 2 .7 8 1
P e r m a n e n t s i t e .................................
19
4 8 1 .7
4 7 2 .1
5 0 7 .3
5 1 3 .7
4 9 2 .4
4 5 7 .3
4 2 5 .1
20
21
22
1 2 8 .9 1 8
1 3 3 .7 6 2
1 3 1 .3 9 8
20
21
22
4 3 3 .5
4 1 5 .6
4 5 5 .5
4 5 8 .2
4 3 7 .0
4 0 1 .0
3 6 6 .2
S i n g l e f a m i l y ...............................
M u lt if a m il y ....................................
O th e r s tr u c tu re s
5.........................
Equipment..............................
23
1 1 1 .7 1 5
1 3 4 .8 3 2
1 3 2 .7 8 2
1 3 3 .5 7 2
1 3 3 .3 1 8
1 3 5 .3 7 7
1 2 2 .9 8 4
1 2 8 .2 4 0
1 2 5 .9 7 3
1 2 7 .3 0 0
1 2 8 .0 5 8
1 2 7 .8 1 4
1 2 9 .7 8 8
1 2 5 .6 2 7
1 3 1 .0 2 4
1 2 8 .9 4 8
1 2 9 .9 2 0
1 3 1 .1 3 3
1 3 1 .4 0 4
1 3 1 .6 3 8
96.852
99.297
98.518
98.710
99.454
100.505
97.347
S i n g l e f a m i l y ...............................
M u ltifa m ily ......................................
O th e r s tr u c tu re s
5.........................
Equipment.............................
14
1 6 3 .9
1 7 2 .0
1 7 0 .6
4 8 .2
5 6 .5
5 1 .8
5 5 .4
5 5 .4
5 6 .3
5 8 .9
2 7 9 .6
2 8 5 .2
2 8 4 .8
2 8 5 .0
2 8 8 .4
2 8 3 .5
2 8 4 .0
9.4
9.8
9.8
9.8
9.9
1 ,1 5 1 .8
1 ,1 7 6 .9
1 ,1 8 7 .1
1 ,1 6 7 .6
1 ,1 4 0 .8
23
9.1
24
1 ,0 9 9 .9
9.8
Addenda:
Addenda:
P r i v a t e f ix e d i n v e s t m e n t in
P r i v a t e f ix e d i n v e s t m e n t in
s t r u c t u r e s .............................................
24
1 2 9 .6 5 1
1 3 7 .8 3 6
1 3 3 .6 7 9
1 3 5 .7 9 6
1 3 7 .6 0 2
1 3 8 .1 9 5
1 3 9 .7 5 1
s t r u c t u r e s .............................................
1 ,1 6 8 .1
P r i v a t e f ix e d i n v e s t m e n t in
P r i v a t e f ix e d i n v e s t m e n t in
25
9 4 .1 5 6
9 3 .9 3 7
9 3 .7 8 5
9 3 .9 2 8
9 3 .9 6 2
9 3 .7 5 5
9 4 .1 0 3
25
9 3 6 .2
9 9 5 .4
9 5 4 .1
9 9 0 .8
9 8 7 .7
1 ,0 0 3 .7
9 9 9 .5
6.........................................
26
1 3 0 .0 7 8
1 3 8 .7 2 4
1 3 4 .1 4 5
1 3 6 .4 4 8
1 3 8 .4 3 4
1 3 9 .1 0 7
1 4 0 .9 0 5
s tr u c tu re s
6.........................................
26
9 9 2 .4
1 ,0 7 0 .4
1 ,0 4 6 .5
1 ,0 7 4 .8
1 ,0 8 5 .7
1 ,0 7 3 .7
1 ,0 4 7 .3
N o n r e s i d e n t i a l s t r u c t u r e s ........
27
1 3 4 .8 4 2
1 5 0 .2 6 8
1 4 1 .7 1 4
1 4 5 .9 5 3
1 4 9 .7 2 6
1 5 1 .6 8 3
1 5 3 .7 1 2
N o n r e s i d e n t i a l s t r u c t u r e s ........
27
3 3 7 .9
4 0 9 .7
3 5 8 .9
3 7 7 .4
4 0 5 .3
4 2 5 .8
4 3 0 .5
R e s i d e n t i a l s t r u c t u r e s ................
28
1 2 7 .3 6 6
1 3 2 .6 4 3
1 3 0 .0 7 2
1 3 1 .4 3 3
1 3 2 .5 1 0
1 3 2 .4 7 8
1 3 4 .1 5 0
R e s i d e n t i a l s t r u c t u r e s ................
28
6 5 4 .5
6 6 0 .6
6 8 7 .6
6 9 7 .4
6 8 0 .4
6 4 7 .9
6 1 6 .8
e q u i p m e n t a n d s o f t w a r e ..........
stru c tu re s
e q u i p m e n t a n d s o f t w a r e ..........
P r i v a t e f ix e d i n v e s t m e n t in n e w
P r i v a t e f ix e d i n v e s t m e n t in n e w
1 . C o n s i s ts p rim a rily o f r e lig io u s , e d u c a tio n a l , v o c a tio n a l, lo d g in g , r a ilro a d s , fa r m , a n d a m u s e m e n t a n d r e c r e a t io n a l s tr u c
tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
3 . I n c lu d e s c o m m u n ic a tio n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
1. C o n s i s ts p rim a rily o f r e lig io u s , e d u c a tio n a l , v o c a tio n a l, lo d g in g , r a ilro a d s , f a rm , a n d a m u s e m e n t a n d r e c r e a t io n a l s tr u c
tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
2 . E x c l u d e s s o f tw a r e “e m b e d d e d ,” o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
3 . I n c lu d e s c o m m u n ic a tio n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
4 . C o n s i s ts p rim a rily o f fu rn itu re a n d f ix tu r e s , a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d o ilfield m a c h in e r y ,
se rv ic e
m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e l s e w h e r e c la s s ifie d .
5 . C o n s i s ts p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n ts , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ’
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
4 . C o n s i s ts p rim a rily o f f u rn itu re a n d fix tu r e s , a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d o ilfield m a c h in e r y ,
s e r v i c e in d u s t r y m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e ls e w h e r e c la s s ifie d .
5 . C o n s i s t s p rim a rily o f m a n u f a c t u r e d h o m e s , im p r o v e m e n ts , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s '
c o m m is s i o n s o n t h e s a l e o f r e s id e n tia l s tr u c tu r e s .
6. E x c l u d e s n e t p u r c h a s e s o f u s e d s tr u c t u r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
c o m m is s i o n s o n t h e s a l e o f r e s i d e n tia l s tr u c tu r e s .
industry
6. E x c l u d e s
n e t p u r c h a s e s o f u s e d s tr u c tu r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e o f s tr u c tu r e s .
D-40
National Data
March 2007
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of chained (2000) dollars]
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
Private fixed investment....
Nonresidential...........................
Structures..............................
1 1,842.0
2 1,223.8
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
2006
I
II
L in e
III
1,877.3
1,914.6
1,906.8
1,901.3
1,859.6
1,313.0
273.7
1,248.2
1,288.8
1,302.8
1,334.2
1,326.0
251.5
C o m m e rc ia l a n d h e a lth c a r e
4
1 0 4 .4
1 1 1 .5
M a n u f a c t u r i n g ...................................
5
1 9 .6
22.1
254.2
259.6
271.9
282.0
281.4
1 0 4 .4
1 0 6 .2
1 0 9 .2
1 1 5 .6
1 1 5 .0
2 0 .9
2 2 .3
2 2 .9
2 2 .3
P o w e r a n d c o m m u n i c a t i o n ...
6
3 3 .5
3 4 .4
3 2 .6
3 3 .7
3 4 .1
3 5 .4
3 4 .3
/
3 6 .4
4 0 .5
3 7 .9
3 8 .1
4 0 .5
4 1 .5
4 1 .9
M in in g e x p l o r a t i o n , s h a f t s ,
O t h e r s t r u c t u r e s 1.........................
Equipment and software.......
8
5 2 .2
9
984.9
5 9 .0
1,049.8
5 2 .2
1,007.6
5 5 .1
1,044.8
5 9 .4
1,041.2
6 0 .4
1,060.7
6 1 .2
1,052.3
I n f o r m a tio n p r o c e s s i n g
e q u ip m e n t a n d s o f tw a r e ...
5 5 2 .6
6 0 2 .1
5 6 7 .3
5 9 5 .9
5 9 4 .3
6 0 8 .6
1
21.3
2
0 .3
3 .1
M in in g , u tilitie s , a n d c o n s t r u c t i o n
3
1.8
2.1
M a n u f a c t u r i n g ...............................................
4
N o n d u ra b le g o o d s in d u s t r ie s ....
6
-4.3
7
1 7 .1
2 1 .5
8
1 4 .3
1 4 .7
D u ra b le g o o d s in d u s t r i e s ,
N o n d u r a b l e g o o d s i n d u s t r i e s ....
R e t a i l t r a d e .....................................................
1 9 .5
5 .5
1.0
O t h e r i n d u s t r i e s ..........................................
15
-
0.1
5 .7
0 .9
5 .5
8.0
5 .5
3 .9
1 5 1 .8
F o o d a n d b e v e ra g e s to r e s
C h a n g e in p r iv a t e i n v e n t o r i e s ...
2 1 .3
4 8 .1
4 8 .6
4 7 .2
6 2 .3
6 4 .2
1 8 .7
17
1 7 .3
1 7 .6
4 1 .6
1 4 .3
2 5 .1
3 5 .2
- 4 .0
4 .0
3 0 .4
7 .0
3 2 .9
3 7 .2
2 8 .9
2 2 .7
19
21.0
4 5 .0
4 2 .8
4 1 .8
5 9 .9
6 1 .6
1 6 .5
20
7 2 .3
7 5 .3
1 1 5 .7
4 7 .1
1 1 7 .6
1 0 3 .0
3 3 .3
21
22
-5 1 .3
- 3 0 .3
-7 2 .9
- 5 .3
-5 7 .7
- 4 1 .4
- 1 6 .9
W h o l e s a l e t r a d e ....................................
1 7 .1
2 1 .5
1 4 .7
1 6 .8
22.0
3 8 .7
M e rc h a n t w h o le s a le tra d e
23
1 6 .7
1 8 .1
1 6 .4
1 4 .0
2 2 .5
3 3 .1
3 .0
24
1 3 .7
12.8
1 9 .7
7 .4
1 8 .0
2 5 .3
0 .4
1 4 3 .2
1 5 2 .2
1 4 2 .7
1 4 7 .3
1 4 1 .8
1 5 7 .0
1 5 1 .2
1 5 4 .3
1 5 7 .1
1 5 8 .6
1 5 8 .2
Residential.................................
17
608.0
582.5
618.9
618.5
600.5
570.3
540.8
Structures..............................
18
598.5
572.8
609.2
608.5
590.6
560.6
531.3
P e r m a n e n t s i t e ................................
19
3 7 5 .5
3 5 4 .7
3 8 7 .8
3 8 8 .6
3 7 0 .2
3 4 4 .5
3 1 5 .4
20
21
22
3 3 6 .3
3 1 0 .9
3 4 6 .6
3 4 5 .1
3 2 7 .1
3 0 0 .8
2 7 0 .5
3 9 .2
4 4 .1
4 1 .1
4 3 .5
4 3 .3
4 4 .1
4 5 .4
a d j u s t m e n t 2...............................
2 2 2 .5
2 1 7 .7
2 2 0 .9
2 1 9 .4
220.0
2 1 5 .7
2 1 5 .8
N o n f a r m i n d u s t r i e s ..............................
N o n f a r m c h a n g e in b o o k
v a lu e
1.............................................
N o n f a r m i n v e n to r y v a l u a t i o n
D u ra b le g o o d s in d u s trie s
8.6
N o n d u ra b le g o o d s
i n d u s t r i e s .................................
P r i v a t e f ix e d i n v e s t m e n t in
0.2
16
1 4 6 .0
1 4 7 .3
Addenda:
-
18
1 4 5 .4
16
-3 9 .9
0.2
1.2
N o n d u ra b le g o o d s in d u s trie s
15
O t h e r e q u i p m e n t 6........................
9.8
1.1
D u ra b le g o o d s in d u s tr ie s
T r a n s p o r t a t i o n e q u i p m e n t ......
s t r u c t u r e s .............................................
-1 7 .0
-4 .4
Addenda:
1 5 3 .9
- 3 5 .3
- 7 .0
- 2 .7
5 .3
2 2 5 .5
2 1 1 .3
1 5 3 .9
-2 5 .8
- 8 .4
1 3 .5
2 0 7 .0
221.0
2 0 6 .7
-2 6 .6
3 .3
2 .3
6.8
10.0
2 7 .6
3 .8
2 1 7 .8
- 1 7 .3
8 .4
8 .3
^.1
3 .9
5 .1
1 4 9 .0
- 3 1 .9
3 0 .3
5 .5
6.8
5 .4
3 .8
211.6
- 1 3 .1
1 6 .5
2.8
6.0
8.6
-
5 .2
2 1 5 .6
24
1 8 .8
9
1 6 .9
6 .7
1 5 0 .4
R e s i d u a l ...........................................................
3 8 .7
6 .5
- 0 .5
1 9 7 .5
9.8
7 .4
22.0
1.6
3 .1
0.2
11.8
2 0 9 .5
9.9
9 .4
1 6 .8
-
1 0 .9
- 4 .9
1 5 2 .2
10.0
1 .4
1 4 .7
- 1 .5
10
11
12
0.0
2 .3
12.8
11.0
1.8
1.2
2 0 9 .1
9.7
1 3 .9
1 .5
220.0
9.9
9 .2
0.1
18.7
5 .4
1 4 3 .5
9.4
- 3 .1
2 .3
0.6
1.2
1 9 3 .6
23
2 .5
7 .7
6 .5
2 0 6 .2
Equipment..............................
64.2
2 .3
5 .2
14
6.........................
62.3
5 .4
2 .9
13
O th e r s tr u c tu re s
8.6
5
W h o l e s a l e t r a d e ..........................................
47.2
5 .8
13
O t h e r 4.............................................
M u lt if a m il y ....................................
1.2
48.6
- 0 .4
1 1 .7
D u ra b le g o o d s in d u s trie s
IV
lil
14
I n d u s tr ia l e q u i p m e n t ...................
S i n g l e f a m i l y ...............................
- 3 .2
48.1
II
G e n e ra l m e rc h a n d is e s to r e s
11
12
3 ....................................
2006
I
O t h e r r e ta il s t o r e s ...............................
6 0 9 .5
C o m p u te r s a n d p e rip h e ra l
S o ftw a re
Change in private
inventories......................
F a r m ......................................................................
M o to r v e h i c l e a n d p a r t s d e a l e r s
10
2005
IV
3
a n d w e l l s .......................................
2006
IV
1,895.6
21.0
2005
25
3 .0
5 .4
- 3 .2
6.6
4 .5
7 .7
2 .7
26
0 .4
3 .4
- 1 .7
2.8
- 0 .5
5 .6
5 .5
N o n m e rc h a n t w h o le s a le
25
8 4 8 .4
8 4 7 .9
8 6 1 .9
8 6 6 .9
8 6 3 .0
8 4 5 .2
8 1 6 .5
26
9 9 4 .3
1 ,0 5 9 .7
1 ,0 1 7 .3
1 ,0 5 4 .8
1 ,0 5 1 .2
1 ,0 7 0 .6
1 ,0 6 2 .1
7.........................................
27
7 6 2 .9
7 7 2 .0
7 8 0 .4
7 8 8 .0
7 8 4 .6
7 7 2 .1
7 4 3 .5
N o n r e s i d e n t i a l s t r u c t u r e s ........
28
2 5 0 .6
2 7 2 .5
2 5 3 .3
2 5 8 .6
2 7 0 .7
2 8 0 .7
2 8 0 .1
R e s i d e n t i a l s t r u c t u r e s ................
29
5 1 3 .9
4 9 8 .4
5 2 8 .8
5 3 0 .8
5 1 3 .7
4 8 9 .3
4 5 9 .9
t r a d e ..................................................
P r i v a t e f ix e d i n v e s t m e n t in
e q u i p m e n t a n d s o f t w a r e ..........
P r i v a t e f ix e d i n v e s t m e n t in n e w
s tr u c tu re s
1. T h is s e r i e s is d e riv e d fro m t h e C e n s u s B u r e a u s e r i e s “c u r r e n t c o s t in v e n to rie s."
2 . T h e in v e n to r y v a lu a tio n a d ju s tm e n t (IVA) s h o w n in th is ta b le d iffers fro m t h e IVA t h a t a d ju s ts b u s i n e s s in c o m e s . T h e
IVA in th is ta b le r e f le c ts t h e m ix of m e t h o d s ( s u c h a s first-in , f ir s t-o u t a n d la s t- in , f ir s t-o u t) u n d e rly in g in v e n to r ie s d e riv e d
p rim a rily fro m C e n s u s B u r e a u s ta tis t ic s ( s e e f o o tn o te 1 ). T h is m ix d iffe rs fro m t h a t u n d e rly in g b u s i n e s s in c o m e d e riv e d
p rim a rily fro m In te r n a l R e v e n u e S e r v ic e s ta tis t ic s .
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e N o rth A m e ric a n In d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
1 . C o n s i s ts p rim a rily o f r e lig io u s, e d u c a tio n a l , v o c a tio n a l, lo d g in g , r a ilro a d s , fa r m , a n d a m u s e m e n t a n d r e c r e a t io n a l
s tr u c tu r e s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d b r o k e r s ' c o m m is s i o n s o n th e s a l e o f s tr u c tu r e s .
2 . T h e q u a n tity in d e x fo r c o m p u te r s c a n b e u s e d to a c c u r a te l y m e a s u r e t h e r e a l g ro w th r a te o f th is c o m p o n e n t.
H o w ev e r, b e c a u s e c o m p u te r s e x h ib it r a p id c h a n g e s in p r ic e s r e la tiv e to o t h e r p r ic e s in t h e e c o n o m y , th e c h a in e d - d o l la r
e s t i m a t e s s h o u ld n o t b e u s e d to m e a s u r e th e c o m p o n e n t’s r e la tiv e im p o r ta n c e o r its c o n trib u tio n to t h e g ro w th r a te of m o r e
a g g r e g a t e s e r i e s ; a c c u r a t e e s t i m a t e s of t h e s e c o n trib u tio n s a r e s h o w n in ta b le 5 . 3 . 2 a n d r e a l g ro w th r a t e s a r e s h o w n in
Table 5.6.6B. Real Change in Private Inventories
by Industry, Chained Dollars
t a b le 5 . 3 . 1 .
3 . E x c l u d e s s o f tw a r e “e m b e d d e d ," o r b u n d le d , in c o m p u te r s a n d o th e r e q u ip m e n t .
4 . I n c lu d e s c o m m u n ic a ti o n e q u ip m e n t , n o n m e d ic a l in s t r u m e n ts , m e d ic a l e q u ip m e n t a n d in s t r u m e n ts , p h o to c o p y a n d
r e la te d e q u ip m e n t , a n d o ffic e a n d a c c o u n tin g e q u ip m e n t .
5 . C o n s i s ts p rim a rily of f u rn itu re a n d fix tu r e s , a g ric u ltu r a l m a c h in e r y , c o n s tr u c tio n m a c h in e r y , m in in g a n d oilfield
[B illio n s o f c h a i n e d ( 2 0 0 0 ) d o lla r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
m a c h in e r y , s e r v i c e in d u s try m a c h in e r y , a n d e le c tr ic a l e q u ip m e n t n o t e ls e w h e r e c la s s ifie d .
6. C o n s i s ts p rim a rily of m a n u f a c t u r e d h o m e s , im p r o v e m e n t s , d o r m ito r ie s , n e t p u r c h a s e s o f u s e d s tr u c tu r e s , a n d
b r o k e r s ’ c o m m is s i o n s o n th e s a l e o f r e s id e n tia l s tr u c tu r e s .
7 . E x c l u d e s n e t p u r c h a s e s o f u s e d s tr u c tu r e s a n d b r o k e r s ’ c o m m is s i o n s o n t h e s a l e of s tr u c tu r e s .
N ote . C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s t h e p r o d u c t o f t h e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e o f t h e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 1 0 0 . B e c a u s e t h e f o rm u la fo r th e c h a in - ty p e q u a n tity in d e x e s u s e s
w e i g h ts o f m o r e t h a n o n e p e rio d , th e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s i d u a l lin e is
t h e d if f e r e n c e b e tw e e n t h e first lin e a n d th e s u m of th e m o s t d e ta il e d lin e s.
L in e
2005
2006
2005
IV
Change in private
inventories......................
F a r m ......................................................................
1
2
M in in g , u til itie s , a n d c o n s t r u c t i o n
3
M a n u f a c t u r i n g ...............................................
4
D u r a b l e g o o d s i n d u s t r i e s ..............
5
19.6
41.9
0.2
1.2
2.8
- 2 .4
1.1
2006
I
43.5
- 0 .5
9 .3
0 .5
7 .3
- 1 .3
-
III
IV
53.7
55.4
4 .3
1 .9
2 .5
2 .4
2.0
5 .4
7 .6
11.1
1.6
10.1
8 .5
0.1
5 .7
9 .4
1 4 .3
1.1
- 4 .8
41.2
4 .8
1 .5
II
6
- 3 .3
1 .5
7 .1
7
1 5 .7
1 9 .0
1 3 .3
1 5 .0
1 9 .3
3 3 .7
D u r a b l e g o o d s i n d u s t r i e s ..............
8
1 3 .5
1 3 .6
1 7 .8
6 .4
1 5 .3
2 7 .7
N o n d u r a b l e g o o d s i n d u s t r i e s ....
9
2.6
5 .7
- 3 .3
4 .5
6 .9
5 .2
3 .7
2 6 .4
8.2
12.8
7 .8
2.2
- 2 .7
- 4 .6
1 9 .8
N o n d u r a b l e g o o d s i n d u s t r i e s ....
W h o l e s a l e t r a d e ..........................................
F o o d a n d b e v e r a g e s t o r e s ...........
10
11
12
G e n e r a l m e r c h a n d i s e s t o r e s ......
13
O t h e r r e ta il s t o r e s ...............................
14
O t h e r i n d u s t r i e s ...........................................
15
-
R e s i d u a l .............................................................
R e t a i l t r a d e .....................................................
M o to r v e h i c l e a n d p a r t s d e a l e r s
2.2
5 .5
1.0
5 .2
1.0
1.0
- 7 .2
1.0
8.1
4 .8
3 .2
- 7 .9
-1 7 .6
0.0
0 .5
1 .3
2 .7
1.1
- 4 .7
4 .9
1.1
6.0
5 .1
10.8
6.1
3 .6
0.1
5 .3
0.8
5 .2
7 .4
5 .1
3 .6
16
- 0 .5
0 .5
- 3 .6
- 0 .5
0 .7
- 0 .3
2 .4
C h a n g e in p r i v a t e i n v e n t o r i e s ...
17
1 9 .6
4 1 .9
4 3 .5
4 1 .2
5 3 .7
5 5 .4
1 7 .3
D u r a b l e g o o d s i n d u s t r i e s ........
18
1 6 .4
1 6 .2
3 9 .2
1 3 .4
2 3 .1
3 1 .9
- 3 .7
N o n d u ra b le g o o d s in d u s trie s
19
3 .9
2 5 .3
6 .4
2 7 .1
3 0 .3
2 4 .1
1 9 .6
1 9 .6
3 9 .2
3 8 .6
3 6 .8
5 2 .2
5 3 .3
1 4 .6
1 5 .7
1 9 .0
1 3 .3
1 5 .0
1 9 .3
3 3 .7
8.1
M e r c h a n t w h o l e s a l e t r a d e ......
20
21
22
1 5 .4
1 6 .3
1 5 .0
12.6
20.0
2 9 .3
3 .4
D u ra b le g o o d s in d u s tr ie s
23
1 2 .9
11.8
1 8 .6
6 .9
1 6 .7
2 3 .1
0 .4
-0 .5
0.2
17.3
4 .8
-
0.2
4 .7
3 .5
Addenda:
N o n f a r m i n d u s t r i e s ..............................
W h o l e s a l e t r a d e ....................................
N o n d u ra b le g o o d s
i n d u s t r i e s .................................
24
2 .7
4 .7
- 2 .7
5 .6
3 .8
6 .7
2.8
25
0 .5
2 .7
- 1 .4
2 .3
- 0 .4
4 .4
4 .4
N o n m e rc h a n t w h o le s a le
t r a d e ..................................................
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
C h a in e d ( 2 0 0 0 ) d o lla r s e r i e s fo r r e a l c h a n g e in p r iv a te in v e n to r ie s a r e c a lc u la t e d a s t h e p e r io d - to - p e r io d c h a n g e in
c h a in e d - d o l la r e n d -o f -p e rio d in v e n to r ie s . Q u a r te r l y c h a n g e s in e n d - o f - p e r i o d in v e n to r ie s a r e s t a t e d a t a n n u a l r a te s .
B e c a u s e th e f o rm u la fo r t h e c h a in - ty p e q u a n tity in d e x e s u s e s w e i g h ts o f m o r e th a n o n e p e rio d , t h e c o r r e s p o n d i n g c h a in e d d o lla r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s i d u a l lin e is t h e d if f e r e n c e b e tw e e n t h e first lin e a n d th e s u m o f th e m o s t
d e ta il e d lin e s.
March 2007
Survey
of
D-41
C u r r e n t B u s in e s s
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
[Billions of chained (2000) dollars]
S e a s o n a ll y a d ju s te d q u a r te r ly to ta ls
L in e
2005
IV
Private inventories 1..........................................
F a r m ........................................................................................................................
M in in g , u tilitie s , a n d c o n s t r u c t i o n .....................................................
M a n u f a c t u r i n g ........................
D u r a b l e g o o d s i n d u s t r i e s ..................................................................
N o n d u r a b l e g o o d s i n d u s t r i e s ........................................................
W h o l e s a l e t r a d e ...................
D u r a b l e g o o d s i n d u s t r i e s .................................................................
N o n d u r a b l e g o o d s i n d u s t r i e s ........................................................
1 1,817.0
2
1 6 5 .6
S e a s o n a ll y a d ju s te d q u a rte r ly to ta ls
2006
I
1,839.2
1 7 3 .1
II
III
1,896.9
1,919.1
1 7 5 .7
1 8 6 .1
1 9 1 .3
8 9 .8
8 2 .1
8 0 .6
4
5 1 5 .6
5 2 3 .9
5 5 0 .0
5 5 2 .3
5 5 0 .9
2 9 6 .3
3 0 1 .4
3 1 6 .1
3 2 1 .7
3 2 2 .0
8 1 .0
8 0 .3
6
2 1 9 .3
2 2 2 .5
2 3 3 .9
2 3 0 .6
2 2 8 .9
7
4 3 0 .6
4 3 7 .8
4 5 6 .7
4 6 3 .6
4 7 1 .7
8
2 5 0 .9
2 5 5 .0
2 6 5 .1
2 7 3 .3
2 7 5 .4
9
1 7 9 .8
1 8 2 .8
1 9 1 .6
1 9 0 .3
1 9 6 .3
10
4 8 6 .4
4 9 2 .0
4 9 9 .2
4 9 9 .0
4 9 8 .5
11
12
1 5 7 .6
1 5 9 .7
1 6 0 .5
1 5 7 .1
1 5 3 .3
F o o d a n d b e v e r a g e s t o r e s ..............................................................
3 6 .8
3 6 .7
3 7 .4
3 8 .0
3 8 .2
G e n e r a l m e r c h a n d i s e s t o r e s ........................................................
13
R e t a i l t r a d e ..............................
M o to r v e h i c l e a n d p a r t s d e a l e r s ................................................
Private inventories 1.........................................
F a r m ........................................................................................................................
5 5 .3
5 4 .8
5 6 .1
5 6 .5
5 6 .8
4 3 4 .7
4 3 6 .6
4 3 9 .4
4 4 1 .9
4 4 4 .1
D u r a b l e g o o d s i n d u s t r i e s ................................................................
5
2 6 5 .2
2 6 5 .1
2 6 6 .6
2 6 8 .9
2 7 2 .5
N o n d u r a b l e g o o d s i n d u s t r i e s .......................................................
6
1 6 9 .8
1 7 1 .5
1 7 2 .9
1 7 3 .1
7
3 8 3 .5
3 8 7 .3
3 9 2 .1
4 0 0 .5
4 0 2 .5
8
2 3 7 .1
2 3 8 .7
2 4 2 .5
2 4 9 .4
2 5 0 .6
W h o l e s a l e t r a d e ...................
D u ra b le g o o d s in d u s tr ie s
N o n d u r a b l e g o o d s i n d u s t r i e s .......................................................
1 4 7 .2
1 4 9 .2
1 5 0 .4
1 5 2 .1
1 5 2 .9
4 6 3 .6
4 6 6 .8
4 6 8 .8
4 6 9 .3
4 6 7 .3
1 6 1 .3
1 6 1 .2
1 5 6 .8
7 5 .9
7 6 .4
7 8 .1
7 9 .8
M o to r v e h i c l e a n d p a r t s d e a l e r s ................................................
2 1 9 .7
2 2 4 .9
2 2 5 .8
2 2 7 .1
F o o d a n d b e v e r a g e s t o r e s .............................................................
1 3 0 .2
1 3 4 .7
1 3 7 .1
1 3 7 .3
G e n e r a l m e r c h a n d i s e s t o r e s ........................................................
13
P r i v a t e i n v e n t o r i e s .................................................................................
16
1 ,8 1 7 .0
1 ,8 3 9 .2
1 ,8 9 6 .9
1 ,9 1 9 .1
1 ,9 2 9 .9
D u r a b l e g o o d s i n d u s t r i e s ...........................................................
17
8 1 0 .5
8 2 3 .8
8 5 0 .7
8 6 2 .4
8 5 8 .2
N o n d u r a b l e g o o d s i n d u s t r i e s ..................................................
18
1 ,0 0 6 .5
1 ,0 1 5 .4
1 ,0 4 6 .2
1 ,0 5 6 .7
1 ,0 7 1 .7
N o n f a r m i n d u s t r i e s ................................................................................
19
1 ,6 5 1 .4
1, 666.2
1 ,7 2 1 .2
1 ,7 3 3 .0
1 ,7 3 8 .6
W h o l e s a l e t r a d e ......................................................................................
4 3 0 .6
4 3 7 .8
4 5 6 .7
4 6 3 .6
4 7 1 .7
D u r a b l e g o o d s i n d u s t r i e s ..........................................................
3 7 0 .8
3 7 7 .0
3 9 2 .5
4 0 0 .4
4 0 6 .9
N o n d u r a b l e g o o d s i n d u s t r i e s ................................................
D u r a b l e g o o d s i n d u s t r i e s .....................................................
20
21
22
2 2 1 .7
2 2 5 .8
2 3 5 .7
2 4 2 .5
2 4 3 .3
N o n f a r m i n d u s t r i e s ...............................................................................
N o n d u r a b l e g o o d s i n d u s t r i e s ............................................
23
1 4 9 .0
1 5 1 .2
1 5 6 .9
1 5 7 .9
1 6 3 .7
W h o l e s a l e t r a d e ......................................................................................
N o n m e r c h a n t w h o l e s a l e t r a d e ...............................................
24
5 9 .9
6 0 .8
6 4 .2
6 3 .2
6 4 .8
R e ta il t r a d e ..............................
Other
741.4
751.1
756.4
766.4
Final sales of goods and structures of
domestic business 2.....................................
26
441.1
455.6
460.8
462.1
466.8
P r i v a t e i n v e n t o r i e s t o f in a l s a l e s ................................................
27
2 .5 1
2 .4 8
2 .5 3
2 .5 4
2 .5 2
N o n f a r m i n v e n t o r i e s t o f in a l s a l e s ............................................
28
2 .2 8
2 .2 5
2 .2 9
2 .2 9
2 .2 7
29
3 .7 4
3 .6 6
3 .7 4
3 .7 5
3 .7 2
Ratios of private inventories to final sales of
domestic business:
N o n f a r m i n v e n t o r i e s t o f in a l s a l e s o f g o o d s a n d
s t r u c t u r e s .................................................................................................
1. I n v e n to r ie s a r e a s of th e e n d o f th e q u a r te r . T h e q u a r te r - to - q u a r te r c h a n g e in in v e n to r ie s c a lc u la t e d fro m c u rr e n td o lla r in v e n to r ie s in th is ta b le is n o t t h e c u rr e n t-d o lla r c h a n g e in p r iv a te in v e n to r ie s c o m p o n e n t o f G D P. T h e f o r m e r is th e
d if f e r e n c e b e tw e e n tw o in v e n to ry s to c k s , e a c h v a lu e d a t its r e s p e c t iv e e n d - o f - q u a r t e r p r ic e s . T h e la tte r is th e c h a n g e in th e
p h y s ic a l v o lu m e o f in v e n to r ie s v a lu e d a t a v e r a g e p r ic e s of t h e q u a r te r . In a d d itio n , c h a n g e s c a lc u la t e d fro m th is ta b le a r e a t
q u a r te r ly r a te s , w h e r e a s , t h e c h a n g e in p r iv a te in v e n to r ie s is s t a t e d a t a n n u a l r a te s .
2 . Q u a r te rly to ta ls a t m o n th ly r a te s . F in a l s a l e s o f d o m e s tic b u s i n e s s e q u a l s fin al s a l e s o f d o m e s tic p r o d u c t le s s g r o s s
o u tp u t o f g e n e r a l g o v e r n m e n t, g r o s s v a lu e a d d e d o f n o n p r o fit in s titu tio n s , c o m p e n s a tio n p a id to d o m e s tic w o rk e r s , a n d
s p a c e r e n t fo r o w n e r - o c c u p ie d h o u s in g . It in c lu d e s a s m a ll a m o u n t o f final s a l e s b y fa r m a n d by g o v e r n m e n t e n te r p r is e s .
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
1 6 2 .7
1 6 3 .0
3 2 .1
3 2 .3
3 2 .6
3 2 .6
3 2 .6
7 2 .5
7 1 .3
7 1 .2
7 2 .4
7 3 .6
.................................................................................
14
1 9 8 .1
200.8
2 0 2 .3
2 0 3 .2
2 0 4 .1
O t h e r i n d u s t r i e s ............................................................................................
15
121.1
1 2 2 .4
1 2 4 .3
1 2 5 .6
1 2 6 .5
R e s i d u a l ...............................................................................................................
16
- 1 .7
17
1 ,5 8 8 .7
18
7 6 0 .8
7 6 4 .1
7 6 9 .9
7 7 7 .9
19
8 2 9 .2
8 3 6 .0
8 4 3 .6
8 4 9 .6
8 5 4 .5
1 ,4 5 8 .2
1 ,4 6 7 .4
1 ,4 8 0 .4
1 ,4 9 3 .7
1 ,4 9 7 .4
r e ta il
724.3
stores
1 7 1 .9
9
7 6 .7
25
1 3 3 .5
3
1 2 8 .9
Final sales of domestic business 2...................
1 3 2 .9
1,630.6
4
2 1 5 .3
M e r c h a n t w h o l e s a l e t r a d e ........................................................
IV
1,626.3
M a n u f a c t u r i n g ........................
14
Addenda:
III
II
M in in g , u tilitie s , a n d c o n s t r u c t i o n ...................................................
15
O t h e r r e ta il s t o r e s ........
2006
I
1 1,588.7 1,599.0 1,612.4
2
1 3 0 .7
1 3 1 .8
1 3 2 .3
10
11
12
O t h e r i n d u s t r i e s .............................................................................................
2005
IV
1,929.9
5
3
L in e
IV
-
1.6
-
1.8
-
1.6
-
1.2
Addenda:
P r i v a t e i n v e n t o r i e s ................................................................................
20
21
22
1 ,5 9 9 .0
1 ,6 1 2 .4
1 ,6 2 6 .3
1 ,6 3 0 .6
7 7 7 .0
3 8 3 .5
3 8 7 .3
3 9 2 .1
4 0 0 .5
4 0 2 .5
3 3 4 .7
3 3 7 .9
3 4 2 .9
3 5 0 .2
3 5 1 .1
D u r a b l e g o o d s i n d u s t r i e s ...................................................
23
2 0 9 .1
210.8
2 1 5 .0
2 2 0 .7
220.8
N o n d u r a b l e g o o d s i n d u s t r i e s ..........................................
24
1 2 6 .1
1 2 7 .5
1 2 8 .5
1 3 0 .2
1 3 0 .9
N o n m e r c h a n t w h o l e s a l e t r a d e .............................................
25
4 8 .9
4 9 .5
4 9 .4
5 0 .5
5 1 .6
Final sales of domestic business 2..................
26
656.6
667.5
671.8
674.7
681.3
Final sales of goods and structures of
domestic business 2.....................................
27
411.1
421.4
423.1
423.8
427.2
P r i v a t e i n v e n t o r i e s t o f in a l s a l e s .....................................................
28
2 .4 2
2 .4 0
2 .4 0
2 .4 1
2 .3 9
N o n f a r m i n v e n t o r i e s t o f in a l s a l e s ..................................................
29
2.22
2.20
2.20
2.21
2.20
30
3 .5 5
3 .4 8
3 .5 0
3 .5 2
3 .5 0
M e r c h a n t w h o l e s a l e t r a d e ........................................................
Ratios of private inventories to final sales of
domestic business:
N o n f a r m i n v e n t o r i e s t o f in a l s a l e s o f g o o d s a n d
s t r u c t u r e s .....................................................................................................
1 . In v e n to r ie s a r e a s o f t h e e n d o f th e q u a r te r . T h e q u a r te r - to - q u a r te r c h a n g e s c a lc u la t e d fro m th is ta b le a r e a t q u a r te r ly
r a te s , w h e r e a s t h e c h a n g e in p r iv a te in v e n to r ie s c o m p o n e n t o f G D P is s t a t e d a t a n n u a l r a te s .
2 . Q u a r te r l y to ta ls a t m o n th ly r a te s . F in a l s a l e s o f d o m e s tic b u s i n e s s e q u a l s fin al s a l e s o f d o m e s tic p r o d u c t le s s g r o s s
o u tp u t o f g e n e r a l g o v e r n m e n t, g r o s s v a lu e a d d e d o f n o n p r o fit in s titu tio n s , c o m p e n s a tio n p a id to d o m e s tic w o rk e r s , a n d
s p a c e r e n t for o w n e r - o c c u p ie d h o u s in g . It in c lu d e s a s m a ll a m o u n t o f fin al s a l e s b y fa rm a n d b y g o v e r n m e n t e n te r p r is e s .
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e N o rth A m e r ic a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
C h a in e d ( 2 0 0 0 ) d o lla r in v e n to r y s e r i e s a r e c a lc u la t e d t o e n s u r e th a t t h e c h a i n e d ( 2 0 0 0 ) d o lla r c h a n g e in in v e n to r ie s for
2 0 0 0 e q u a l s th e c u rr e n t-d o lla r c h a n g e in in v e n to r ie s fo r 2 0 0 0 a n d t h a t th e a v e r a g e o f t h e 1 9 9 9 a n d 2 0 0 0 e n d - o f - y e a r
c h a in - w e ig h t e d a n d fix e d - w e ig h te d in v e n to r ie s a r e e q u a l.
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
IV
2006
I
II
III
IV
F a r m ........................................................................................................................
1 114.369 115.022 117.640 118.005 118.356
2 1 2 6 .7 0 9 1 3 1 .3 0 3 1 3 2 .8 1 6 1 4 0 .0 1 4 1 4 3 .3 3 0
M in in g , u tilitie s , a n d c o n s t r u c t i o n .....................................................
3
Private inventories 1..........................................
1 6 2 .5 3 3
1 5 0 .0 0 9
1 4 3 .6 3 6
1 4 3 .3 3 2
4
1 1 8 .5 9 6
1 1 9 .9 9 3
1 2 5 .1 6 2
1 2 4 .9 8 2
1 2 4 .0 6 1
D u r a b l e g o o d s i n d u s t r i e s .................................................................
5
1 1 1 .7 2 1
1 1 3 .6 8 8
1 1 8 .5 7 9
1 1 9 .6 3 5
1 1 8 .1 8 4
N o n d u r a b l e g o o d s i n d u s t r i e s ........................................................
6
1 2 9 .1 9 3
1 2 9 .7 0 1
1 3 5 .2 9 9
1 3 3 .2 0 5
1 3 3 .1 1 8
7
1 1 2 .2 7 8
1 1 3 .0 5 2
1 1 6 .4 8 5
1 1 5 .7 5 1
M a n u f a c t u r i n g ........................
W h o l e s a l e t r a d e ...................
1 4 1 .3 6 0
1 1 7 .1 7 3
D u r a b l e g o o d s i n d u s t r i e s .................................................................
8
1 0 5 .8 2 5
1 0 6 .8 7 0
1 0 9 .3 3 0
1 0 9 .5 6 0
1 0 9 .8 7 0
N o n d u r a b l e g o o d s i n d u s t r i e s ........................................................
9
1 2 2 .1 3 7
1 2 2 .4 7 1
1 2 7 .4 5 3
1 2 5 .1 5 5
1 2 8 .3 9 4
1 0 4 .9 0 9
1 0 5 .3 9 9
1 0 6 .4 9 6
1 0 6 .3 2 3
1 0 6 .6 6 5
9 7 .6 6 6
9 8 .1 4 3
9 8 .5 2 2
9 7 .5 0 9
F o o d a n d b e v e r a g e s t o r e s ..............................................................
10
11
12
1 1 4 .6 7 0
1 1 3 .7 1 2
1 1 4 .8 7 6
1 1 6 .4 9 8
1 1 7 .2 0 4
G e n e r a l m e r c h a n d i s e s t o r e s ........................................................
13
1 0 5 .8 4 2
1 0 6 .3 6 6
1 0 7 .2 6 2
1 0 7 .8 1 7
1 0 8 .4 7 8
O t h e r r e ta il s t o r e s ...................................................................................
14
1 0 8 .6 7 6
1 0 9 .3 9 7
1 1 1 .1 3 3
1 1 1 .0 8 4
1 1 1 .2 9 3
O t h e r i n d u s t r i e s .............................................................................................
15
1 0 6 .4 4 4
1 0 6 .3 8 6
1 0 8 .3 4 0
1 0 9 .1 8 8
1 0 8 .5 4 7
P r i v a t e i n v e n t o r i e s .................................................................................
16
1 1 4 .3 6 9
1 1 5 .0 2 2
1 1 7 .6 4 0
1 1 8 .0 0 5
1 1 8 .3 5 6
D u r a b l e g o o d s i n d u s t r i e s ...........................................................
17
1 0 6 .5 4 1
1 0 7 .8 0 8
1 1 0 .4 9 3
1 1 0 .8 6 2
1 1 0 .4 6 3
R e ta il t r a d e ..............................
M o t o r v e h i c l e a n d p a r t s d e a l e r s ................................................
9 7 .8 0 1
Addenda:
N o n d u r a b l e g o o d s i n d u s t r i e s ..................................................
18
1 2 1 .3 7 7
1 2 1 .4 6 7
1 2 4 .0 2 0
1 2 4 .3 8 1
1 2 5 .4 1 6
N o n f a r m i n d u s t r i e s .......................
19
1 1 3 .2 4 8
1 1 3 .5 4 8
1 1 6 .2 6 4
1 1 6 .0 2 0
1 1 6 .1 0 7
W h o l e s a l e t r a d e .............................
1 1 2 .2 7 8
1 1 3 .0 5 2
1 1 6 .4 8 5
1 1 5 .7 5 1
1 1 7 .1 7 3
1 1 0 .7 6 1
1 1 1 .5 8 5
1 1 4 .4 8 2
1 1 4 .3 3 2
D u r a b l e g o o d s i n d u s t r i e s .....................................................
20
21
22
1 0 6 .0 6 7
1 0 7 .1 2 6
1 0 9 .6 2 9
1 0 9 .8 6 3
1 1 0 .1 5 9
N o n d u r a b l e g o o d s i n d u s t r i e s ............................................
23
1 1 8 .1 3 1
1 1 8 .5 6 2
1 2 2 .1 0 3
1 2 1 .3 0 4
1 2 5 .0 4 5
N o n m e r c h a n t w h o l e s a l e t r a d e ...............................................
24
1 2 2 .3 7 8
1 2 2 .8 0 9
1 2 9 .9 2 6
1 2 5 .1 4 0
1 2 5 .4 8 8
M e rc h a n t w h o le s a le t r a d e .
1. Im plicit p r ic e d e f la to r s a r e a s o f t h e e n d o f t h e q u a r t e r a n d a r e c o n s is te n t w ith in v e n to r y s to c k s .
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e N o rth A m e ric a n In d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
1 1 5 .9 1 0
D-42
National Data
March 2007
6. Income and Employment by Industry
Table 6.1D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
National income without capital consumption adjustment.....
10,917.9
11,209.1
11,625.7
11,697.6
Domestic industries................................................................................
10,886.0
11,196.6
11,596.6
11,674.8
11,801.8
Private industries................................................................................
9,574.6
9,865.6
10,245.2
10,311.4
10.419.4
11.818.4
A g r i c u lt u r e , f o r e s tr y , f i s h in g , a n d h u n t i n g
8 7 .6
8 6 .9
8 7 .4
M i n i n g ................................................................................
1 5 8 .9
1 8 4 .4
1 8 8 .0
1 8 7 .2
1 9 9 .8
U t i l i t i e s ..............................................................................
1 7 6 .7
1 8 7 .5
1 9 2 .1
201.0
2 0 7 .1
C o n s t r u c t i o n ..................................................................
8 2 .2
8 8 .3
6 0 4 .2
6 2 8 .1
6 5 2 .5
6 5 0 .3
6 3 5 .3
1 .3 6 5 .8
1 .3 9 2 .2
1 ,4 7 2 .8
1 .4 5 7 .4
1 ,4 9 7 .6
D u ra b le g o o d s .
7 4 6 .0
7 5 9 .9
8 1 5 .7
7 9 0 .8
8 2 6 .2
N o n d u ra b le g o o d s
6 1 9 .8
M a n u f a c t u r i n g ...................................................................................................................................
6 3 2 .3
6 5 7 .0
666.6
6 7 1 .4
W h o l e s a l e t r a d e ..
6 8 9 .3
7 1 3 .8
7 3 2 .9
7 3 3 .0
7 6 4 .2
R e ta il t r a d e ..............
8 2 5 .3
8 5 2 .6
866.1
8 6 9 .2
8 8 1 .2
T r a n s p o r t a t i o n a n d w a r e h o u s i n g .......................................................................................
3 0 6 .3
3 1 0 .4
3 2 7 .0
3 4 1 .7
3 4 4 .8
I n f o r m a t i o n ..............
4 1 7 .1
4 3 0 .8
4 4 7 .8
4 4 3 .2
4 4 3 .6
F i n a n c e , i n s u r a n c e , r e a l e s t a t e , r e n t a l , a n d l e a s i n g ..........................................
1 .8 3 2 .9
1 .8 9 7 .2
1 ,9 7 5 .5
2 , 002.6
1 ,9 8 6 .4
1...........................................................................
1 .5 1 0 .4
1 .5 6 0 .2
1 .6 2 3 .4
1 .6 3 5 .5
1 .6 6 4 .9
E d u c a t i o n a l s e r v i c e s , h e a l t h c a r e , a n d s o c i a l a s s i s t a n c e ............................
9 3 8 .2
9 5 4 .4
9 8 1 .7
1 ,0 0 0 .4
1 .0 0 1 .9
A rts, e n te r ta in m e n t, r e c r e a tio n , a c c o m m o d a t io n , a n d fo o d s e r v i c e s ..
3 9 4 .2
3 9 4 .2
4 2 0 .7
4 2 6 .3
4 2 2 .5
O t h e r s e r v i c e s , e x c e p t g o v e r n m e n t ................................................................................
2 6 7 .6
2 7 2 .9
2 7 7 .5
2 8 1 .2
P r o fe s s io n a l a n d b u s in e s s s e r v i c e s
Government.........................................................................................
Rest of the w orld.....................................................................................
1,331.1
12.5
1.311.4
31.9
1.351.4
29.1
1,363.4
22.7
2 8 1 .7
1,382.3
16.7
1. C o n s i s t s o f p r o f e s s io n a l, sc ie n tific , a n d te c h n ic a l s e r v i c e s ; m a n a g e m e n t o f c o m p a n i e s a n d e n te r p r is e s ; a n d a d m in is tra tiv e a n d w a s t e m a n a g e m e n t s e r v i c e s .
N ote . E s tim a te s in th is ta b le a r e b a s e d o n th e 1 9 9 7 N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
Table 6.16D. Corporate Profits by Industry
[B i l l i o n s o f d o l l a r s ]
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2005
2006
2005
2006
II
C o r p o r a t e p r o f i ts w ith in v e n to r y v a lu a ti o n a n d c a p ita l c o n s u m p t i o n a d j u s t m e n t s .
1.330.7
1,393.5
1,569.1
1.591.8
1,653.3
D o m e s t i c i n d u s t r i e s .............................................................................................................................................................................
1.133.7
1,197.2
1,343.0
1.351.9
1.418.7
F i n a n c i a l 1 ....
3 6 9 .4
3 9 0 .8
4 4 2 .2
4 8 3 .9
4 7 4 .8
N o n fin a n c ia l.
7 6 4 .2
8 0 6 .4
9 0 0 .9
868.1
9 4 3 .9
R e s t o f th e w o rld
197.0
196.3
226.1
239.9
234.6
R e c e i p t s f r o m t h e r e s t o f t h e w o r l d ......................................................................................................................................
3 3 8 .0
3 6 0 .6
3 7 6 .3
4 0 2 .0
L e s s : P a y m e n t s t o t h e r e s t o f t h e w o r l d ...........................................................................................................................
1 4 1 .0
1 6 4 .2
1 5 0 .2
1 6 2 .1
C o r p o r a t e p r o f i t s w i t h i n v e n t o r y v a l u a t i o n a d j u s t m e n t ........................................................................
D o m e s t i c i n d u s t r i e s .............................................................................................................................................................................
1.486.1
1.289.1
F i n a n c i a l ......................................................................................................................................................................................................
3 8 9 .0
F e d e r a l R e s e r v e b a n k s ............................................................................................................................................................
O th e r f in a n c ia l2
N o n fin a n c ia l.
U t i l i t i e s .......
M a n u f a c t u r i n g ..................................................................................................................................................................................
1,559.1
1,362.8
4 1 3 .3
1,717.7
1.491.6
4 6 3 .9
1.752.6
1.512.7
5 0 8 .2
4 0 8 .9
1 7 4 .2
1.815.8
1,581.1
5 0 0 .1
2 6 .6
3 0 .4
3 0 .9
3 3 .7
3 6 2 .5
3 8 2 .9
4 3 3 .0
4 7 4 .4
4 6 4 .3
9 0 0 .1
9 4 9 .4
1 .0 2 7 .7
1 ,0 0 4 .5
1 ,0 8 1 .0
3 5 .8
3 0 .3
3 8 .3
3 9 .7
4 6 .8
5 2 .8
2 5 4 .8
2 5 8 .9
3 0 0 .7
2 8 9 .9
3 3 1 .9
7 3 .8
7 2 .9
102.2
7 8 .7
20.6
1 1 5 .9
F a b r i c a t e d m e t a l p r o d u c t s ........................................................................................................................................
21.2
2 5 .7
2 4 .1
2 4 .8
M a c h i n e r y ...............................................................................................................................................................................
1 3 .8
1 5 .0
1 9 .1
1 8 .3
1 8 .5
C o m p u t e r a n d e l e c t r o n i c p r o d u c t s .....................................................................................................................
3 .9
8.0
1 2 .3
1 3 .1
1 3 .2
E le c t r i c a l e q u i p m e n t , a p p l i a n c e s , a n d c o m p o n e n t s .............................................................................
5 .7
5 .6
8 .4
M o to r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s ..........
- 1 7 .9
- 2 5 .3
-1 8 .2
-2 5 .4
-1 6 .6
3 ..................................................................
4 7 .7
4 8 .5
5 4 .9
4 1 .9
6 5 .7
N o n d u r a b l e g o o d s ...................................................................................
1 8 1 .0
1 8 6 .0
1 9 8 .5
F o o d a n d b e v e r a g e a n d t o b a c c o p r o d u c t s ...................
2 8 .5
2 8 .6
2 9 .6
2 9 .5
3 4 .4
P e t r o l e u m a n d c o a l p r o d u c t s ..................................................
7 0 .4
7 6 .0
7 4 .5
9 2 .4
101.1
C h e m i c a l p r o d u c t s ...........................................................................
4 5 .3
4 4 .4
5 4 .1
5 3 .6
4 6 .6
D u ra b le g o o d s
O th e r d u ra b le g o o d s
6.8
211.2
1 0 .3
2 1 6 .0
O t h e r n o n d u r a b l e g o o d s 4 ........................................................................................................................................
3 6 .8
3 7 .0
4 0 .1
3 5 .7
3 3 .9
W h o l e s a l e t r a d e ..............................................................................................................................................................................
9 7 .6
1 0 5 .9
1 0 7 .2
9 8 .3
1 2 5 .1
1 1 3 .7
1 2 9 .1
1 2 3 .0
121.2
1 3 1 .3
T r a n s p o r t a t i o n a n d w a r e h o u s i n g ......................................................................................................................................
21.0
1 9 .0
2 7 .3
3 8 .6
3 9 .6
I n f o r m a t i o n ..........................................................................................................................................................................................
7 7 .5
8 3 .6
8 9 .8
8 5 .9
8 3 .3
O t h e r n o n f i n a n c i a l 5....................................................................................................................................................................
3 0 5 .2
3 1 4 .6
3 4 0 .1
3 2 3 .9
3 1 7 .1
197.0
196.3
226.1
239.9
234.6
R e t a i l t r a d e ................
R e s t o f t h e w o r l d ...........
1 . C o n s i s t s o f f in a n c e a n d in s u r a n c e a n d b a n k a n d o th e r h o ld in g c o m p a n ie s .
2 . C o n s i s ts o f c r e d it in te r m e d i a ti o n a n d r e la te d a c tiv itie s; s e c u r itie s , c o m m o d ity c o n tr a c t s , a n d o th e r fin a n c ia l in v e s tm e n ts a n d r e la te d a c tiv itie s; i n s u r a n c e c a r r i e r s a n d r e la te d a ctiv itie s; f u n d s , tr u s ts , a n d o t h e r f in a n
cia l v e h ic le s ; a n d b a n k a n d o th e r h o ld in g c o m p a n ie s .
3 . C o n s i s t s of w o o d p r o d u c ts ; n o n m e ta llic m in e r a l p r o d u c ts ; p r im a ry m e ta ls ; o th e r tr a n s p o r ta tio n e q u ip m e n t; f u rn itu re a n d r e la te d p r o d u c ts ; a n d m is c e lla n e o u s m a n u fa c tu rin g .
4 . C o n s i s t s o f te x tile m ills a n d te x tile p r o d u c t m ills; a p p a r e l; l e a th e r a n d a llie d p r o d u c ts ; p a p e r p r o d u c ts ; p rin tin g a n d r e la te d s u p p o r t a ctiv itie s; a n d p la s tic s a n d r u b b e r p r o d u c ts .
5 . C o n s i s t s o f a g ric u ltu r e , f o re stry , fis h in g , a n d h u n tin g ; m in in g ; c o n s tr u c tio n ; r e a l e s t a t e a n d r e n ta l a n d le a sin g ; p r o f e s s io n a l, s c ie n tific , a n d te c h n ic a l s e r v i c e s ; a d m in is tra tiv e a n d w a s t e m a n a g e m e n t s e r v i c e s ; e d u c a
tio n a l s e r v i c e s ; h e a lth c a r e a n d s o c ia l a s s is ta n c e ; a r t s , e n te r ta in m e n t, a n d re c re a tio n ; a c c o m m o d a t io n a n d fo o d s e r v i c e s ; a n d o t h e r s e r v i c e s , e x c e p t g o v e r n m e n t.
N ote . E s tim a te s in th is ta b le a r e b a s e d o n t h e 1 9 9 7 N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
March 2007
Survey
of
C
urrent
D-43
B u s in e s s
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
[D o lla r s ]
[Percent]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
S e a s o n a lly a d ju s te d a t a n n u a l ra te s
L in e
2006
IV
I
II
4 2 ,7 6 9
4 3 ,6 0 3
4 4 ,1 3 5
4 4 ,4 4 0
4 2 ,8 1 0
4 3 ,7 0 0
4 4 ,2 1 1
4 4 ,4 9 5
III
4 2 ,0 0 6
4 4 ,2 3 3
7
P e r s o n a l i n c o m e ...................................
3
3 4 ,5 3 1
3 5 ,9 3 7
3 6 ,1 4 2
3 6 ,4 9 0
3 6 ,8 2 6
4
3 0 ,4 7 3
3 6 ,3 5 0
3 1 ,8 0 5
3 5 ,2 2 0
D i s p o s a b l e p e r s o n a l i n c o m e ....
3 1 ,0 2 9
3 1 ,4 7 0
3 1 ,5 9 0
3 1 ,9 4 6
3 2 ,2 1 0
e x p e n d i t u r e s ......................................
b
2 9 ,4 8 3
3 0 ,9 5 6
2 9 ,9 9 3
3 0 ,4 3 2
3 0 ,8 6 1
3 1 ,1 7 8
3 1 ,3 5 0
D u r a b l e g o o d s .................................
6
3 ,4 8 4
3 ,5 7 5
3 ,4 2 5
3 ,5 6 7
3 ,5 5 1
3 ,5 8 7
3 ,5 9 3
N o n d u r a b l e g o o d s ........................
7
8 ,5 6 4
9 ,0 6 7
8 ,7 8 0
8 ,9 1 0
9 ,1 0 1
9 ,1 6 5
9 ,0 9 3
S e r v i c e s ...............................................
8
1 7 ,4 3 5
1 8 ,3 1 4
1 7 ,7 8 8
1 7 ,9 5 5
1 8 ,2 0 9
1 8 ,4 2 5
1 8 ,6 6 5
3 8 ,1 1 9
3 7 ,5 0 5
3 7 ,9 3 2
3 8 ,0 8 4
3 8 ,1 7 2
3 8 ,2 8 6
3 7 ,5 4 5
3 8 ,0 1 9
3 8 ,1 5 2
3 8 ,2 2 2
2 7 ,4 9 2
2 7 ,7 4 3
2 7 ,5 7 4
2 7 ,7 2 3
4 2 ,1 1 4
P e r s o n a l c o n s u m p tio n
Chained (2000) dollars:
9
3 7 ,2 6 0
G r o s s n a t i o n a l p r o d u c t ...................
10
11
3 7 ,3 5 9
2 7 ,3 3 2
2 7 ,7 6 3
2 8 ,0 1 3
1
2
9 .4
- 6 .7
- 1 2 .5
7 .3
-7 .6
3
1.8
- 2 .5
- 3 1 .9
1 0 .7
- 7 .5
4 0 .3
- 4 5 .0
Final sales of domestic product
4
7.1
-1.4
-44.1
19.9
-4.0
31.1
-17.5
Personal consumption
expenditures......................
N e w m o t o r v e h i c l e s ......................
A u t o s ..................................................
5.9
1 4 .1
-1.8
-
0.6
-19.1
3.8
5
-0.5
-1.4
-40.1
20.7
1.0
6
- 1 .7
- 4 .8
- 5 4 .1
5 .2
0 .5
- 2 8 .5
20.6
6.1
2.1
21.6
- 5 .8
-8 .4
- 6 6 .5
3 2 .9
7
27.4
-9.4
-33.4
-7.4
12.3
1 3 .0
-
2.6
- 4 .5
-
10.1
L ig h t t r u c k s (i n c l u d i n g
u tility v e h i c l e s ) .....................
8
a n d u s e d lig h t t r u c k s .............
9
U s e d a u t o s ...................................
- 1 0 .9
2 6 .9
- 0 .9
11.1
10
12
2 6 ,4 4 4
2 7 ,0 2 2
2 6 ,5 7 5
2 6 ,9 3 7
2 7 ,0 5 6
2 7 ,2 6 5
D u r a b l e g o o d s .................................
13
3 ,8 6 3
4 ,0 1 7
3 ,8 2 3
3 ,9 9 0
3 ,9 8 0
4 ,0 3 2
4 ,0 6 6
N o n d u r a b l e g o o d s .......................
14
7 ,6 7 8
7 ,8 8 9
7 ,7 5 9
7 ,8 5 3
7 ,8 6 3
7 ,8 7 3
7 ,9 6 7
S e r v i c e s ...............................................
15
1 4 ,9 6 2
1 5 ,1 9 6
1 5 ,0 4 0
1 5 ,0 6 5
1 5 ,1 6 7
1 5 ,2 3 3
1 5 ,3 1 7
2 9 9 ,7 8 9
3 0 0 ,5 4 3
16
2 9 6 ,5 2 4
2 9 9 ,4 2 4
2 9 7 ,6 6 0
2 6 ,8 2 8
2 9 8 ,3 3 8
2 9 9 ,0 2 5
2.2
2.1
0.0
5 .8
6 .4
2 .7
-3 .8
1 7 .9
-1 .3
2 3 .7
-
20.8
- 1 2 .7
4 .9
- 4 .7
1 7 .2
- 1 9 .6
U s e d lig h t t r u c k s ( i n c lu d in g
11
12
2 .4
8.8
1 7 .5
20.9
3.7
-11.8
14.2
-16.6
18.8
-8.8
N e w m o t o r v e h i c l e s ......................
13
1 2 .7
5 .7
- 4 .5
2 8 .9
- 2 4 .6
1 1 .9
-
A u t o s ..................................................
14
7 .5
- 0 .4
0 .4
- 1 .5
- 2 3 .5
7 .6
9 .5
T r u c k s ...............................................
15
1 5 .6
8 .9
-6 .9
4 7 .4
- 2 5 .1
1 4 .0
-4 .6
5 9 .2
-3 2 .0
1 9 .9
- 1 3 .3
u tility v e h i c l e s ) .....................
e x p e n d i t u r e s ......................................
IV
T r u c k o u t p u t ...........................
P e r s o n a l c o n s u m p tio n
P o p u l a t i o n (m i d p e r i o d , t h o u s a n d s )
III
II
N et p u r c h a s e s o f u s e d a u to s
G r o s s d o m e s t i c p r o d u c t ................
D i s p o s a b l e p e r s o n a l i n c o m e ....
2006
1
A u to o u t p u t ............................
4 4 ,7 5 2
G r o s s n a t i o n a l p r o d u c t ...................
2005
IV
Motor vehicle o utput.....
1
2006
IV
Current dollars:
G r o s s d o m e s t i c p r o d u c t ................
2005
Private fixed investment........
0.6
0.2
L ig h t t r u c k s (i n c l u d i n g
u tility v e h i c l e s ) ..............
16
1 3 .5
8.6
O t h e r ............................................
17
2 1 .5
9 .5
2 3 .9
21.2
a n d u s e d lig h t t r u c k s .............
18
- 1 .5
9 .8
1 2 .3
6 2 .5
- 3 7 .7
-
U s e d a u t o s ..................................
19
- 0 .4
4 .2
2 6 .3
1 4 .8
- 3 6 .1
1 9 .8
1 9 .2
20
-
1 2 5 .3
- 3 9 .0
- 1 6 .1
1 9 .1
- 1 6 .6
- 4 .7
0.8
1 9 .1
0.6
1 9 .2
N et p u r c h a s e s of u s e d a u to s
U s e d lig h t t r u c k s (i n c l u d i n g
u tility v e h i c l e s ) .....................
Gross government
investment..........................
2.6
1 5 .5
0.0
21
22
4.2
16.5
-34.0
62.1
A u t o s ........................................................
7 .4
0.1
- 2 7 .4
- 1 3 .4
T r u c k s .....................................................
23
3 .3
2 1 .4
- 3 5 .7
9 0 .0
Net exports.............................
?4
E x p o r t s ..................................................
25
1 8 .6
1 3 .1
7 .5
A u t o s ..................................................
26
2 3 .0
1 8 .7
T r u c k s ...............................................
27
1 5 .0
I m p o r t s ....................................................
28
A u t o s ..................................................
29
- 3 .6
10.8
2 2 .9
11.8
-4 .8
T r u c k s ...............................................
30
5 .6
7 .7
2 8 .1
3 4 .5
-
Change in private inventories....
31
42
4 .5
0 .4
-3 3 .4
43
11.0
4 .8
- 9 .9
3 0 .7
44
1 2 .5
0.1
2 6 .1
- 1 .7
45
2 .9
- 1 2 .4
- 6 .5
A u t o s ...............................................................
3?
N e w ...........................................................
33
D o m e s t i c .........................................
34
F o r e i g n .............................................
35
U s e d ........................................................
36
T r u c k s .............................................................
11.4
9.9
- 0 .5
2 8 .9
2.1
1 4 .6
5 .5
3 0 .8
- 1 4 .5
6 9 .6
- 3 2 .2
2 3 .5
3 6 .5
- 1 4 .9
8 1 .3
-
8.2
- 4 .7
2 5 .8
- 1 4 .2
5 9 .3
- 4 1 .1
9 .1
2 5 .6
2 3 .3
-6 .7
-
21.8
10.6
1 4 .2
2 4 .2
1 3 .3
- 3 4 .2
1 5 .1
- 3 .8
1 3 .9
- 7 .2
- 2 8 .7
1 4 .8
- 4 .6
- 2 1 .9
7 .6
- 1 9 .0
1 7 .9
1 4 .5
6 .3
8.2
37
N e w ...........................................................
38
D o m e s t i c .........................................
39
F o r e i g n .............................................
4(1
1.....................................................
41
U sed
1.0
8.2
6 4 .4
-
Addenda:
F in a l s a l e s o f m o to r v e h ic le s to
d o m e s t i c p u r c h a s e r s ...................
20.0
P r i v a t e f ix e d i n v e s t m e n t in n e w
a u t o s a n d n e w lig h t t r u c k s ....
D o m e s tic o u tp u t o f n e w a u to s
S a l e s o f im p o r te d n e w a u to s
2
3
5 .1
1 . C o n s i s ts o f u s e d lig h t tr u c k s only.
2 . C o n s i s ts o f fin al s a l e s a n d c h a n g e in p r iv a te in v e n to r ie s o f n e w a u t o s a s s e m b l e d in t h e U n ite d S t a te s .
3 . C o n s i s t s o f p e r s o n a l c o n s u m p tio n e x p e n d itu r e s , p r iv a te fix e d in v e s tm e n t, a n d g r o s s g o v e r n m e n t in v e s tm e n t.
D-44
National Data
March 2007
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2000=100]
[Index numbers, 2000=100]
S e a s o n a lly a d ju s te d
L in e
2005
2006
S e a s o n a lly a d ju s te d
2006
2005
L in e
II
III
IV
114.487
121.621
109.887
A u to o u t p u t ..............................
1 118.006 115.834 116.260 117.341
2 1 0 1 .2 4 1 1 0 0 .5 9 7 1 0 4 .5 3 7 1 0 2 .7 3 8
9 9 .3 6 0
1 0 1 .1 3 5
9 9 .1 5 8
T r u c k o u t p u t ............................
3
1 3 0 .0 2 0
1 2 6 .7 4 8
1 2 7 .8 0 4
1 2 5 .3 3 8
1 3 6 .4 0 3
1 1 7 .4 4 9
Final sales of domestic product
4
121.646
119.996 113.029
118.267
117.064
125.261
119.391
b
117.472
115.778
109.174
114.425
114.718
118.101
115.867
6
1 2 4 .2 1 2
1 1 8 .2 8 9
1 1 1 .0 6 2
1 1 6 .3 8 2
1 1 6 .9 7 4
1 2 0 .5 9 1
1 1 9 .2 1 0
7
1 0 3 .2 5 6
1 0 3 .7 9 6
9 9 .5 5 8
1 0 1 .0 5 4
1 0 6 .1 0 8
1 0 5 .4 0 1
1 0 2 .6 2 3
A u t o s ....................................................
IV
Motor vehicle output......
Personal consumption
expenditures.......................
N e w m o t o r v e h i c l e s ......................
A u t o s ..................................................
1 2 4 .6 0 9
I
L ig h t t r u c k s ( i n c lu d in g
2005
2006
2005
IV
97.656
A u to o u t p u t ..............................
1
2
T r u c k o u t p u t ............................
3
4
Personal consumption
expenditures.......................
N e w m o t o r v e h i c l e s ......................
Motor vehicle output......
Final sales of domestic product
2006
1
97.006
96.857
97.636
9 8 .7 7 1
9 9 .7 4 0
9 9 .0 7 7
1 0 0 .1 7 9
9 6 .9 1 4
9 5 .3 7 5
9 5 .5 0 7
9 6 .0 9 7
97.644
97.090
96.883
97.690
b
97.623
97.363
97.295
6
9 6 .3 2 0
9 5 .7 4 2
9 5 .8 6 3
7
9 6 .9 2 1
9 7 .8 1 4
8
9 5 .8 8 4
9
10
II
97.564
III
IV
96.460
96.364
9 9 .3 7 0
9 9 .7 5 9
9 9 .6 5 3
9 6 .4 4 1
9 4 .5 2 8
9 4 .4 3 6
97.617
96.572
96.480
97.827
97.633
97.441
96.549
9 6 .2 5 1
9 5 .9 1 3
9 5 .7 3 4
9 5 .0 7 0
9 7 .2 0 1
9 7 .8 8 6
9 7 .5 7 0
9 7 .9 7 4
9 7 .8 2 7
9 4 .2 5 1
9 4 .9 2 1
9 5 .0 8 7
9 4 .7 3 1
9 4 .1 1 2
9 3 .0 7 4
1 0 0 .3 2 9
1 0 0 .7 8 0
1 0 0 .3 3 0
1 0 1 .1 5 7
1 0 1 .2 5 6
1 0 1 .0 3 5
9 9 .6 7 1
1 0 2 .3 4 5
1 0 2 .4 4 0
1 0 2 .5 7 3
1 0 3 .0 0 2
1 0 2 .7 0 2
1 0 2 .7 9 7
1 0 1 .2 6 0
11 9 8 . 2 4 1
9 9 .0 1 4
12 105.085 104.011
9 8 .0 3 2
9 9 .2 2 1
9 9 .6 8 3
9 9 .1 8 0
9 7 .9 7 5
L ig h t t r u c k s ( in c lu d in g
8
1 4 3 .8 7 6
1 3 1 .8 1 5
1 2 1 .7 2 8
1 3 0 .7 0 3
1 2 6 .9 9 3
1 3 4 .7 8 6
1 3 4 .7 8 0
a n d u s e d lig h t t r u c k s .............
9
1 0 4 .7 7 8
1 1 0 .8 0 8
1 0 5 .3 6 6
1 1 0 .4 7 4
1 1 0 .2 1 9
1 1 3 .1 6 3
1 0 9 .3 7 6
a n d u s e d lig h t t r u c k s ..............
U s e d a u t o s ....................................
10
U s e d a u t o s ....................................
u tility v e h i c l e s ) ......................
N et p u r c h a s e s of u s e d a u to s
N et p u r c h a s e s of u s e d a u to s
9 4 .3 0 8
9 6 .8 2 1
9 2 .8 5 7
9 6 .7 6 5
9 6 .4 5 5
9 7 .6 1 7
9 6 .4 4 8
11 1 1 7 . 5 0 1
12 108.561
1 2 7 .8 9 8
1 2 0 .6 3 1
1 2 7 .2 2 2
1 2 7 .0 3 5
1 3 2 .1 8 0
1 2 5 .1 5 4
112.531
110.868
114.600
109.501
114.308
111.714
1 0 8 .9 2 3
1 1 2 .0 1 8
U s e d lig h t t r u c k s (in c l u d i n g
u tility v e h i c l e s ) ......................
Private fixed investment........
u tility v e h i c l e s ) ......................
U s e d lig h t t r u c k s (in c l u d i n g
u tility v e h i c l e s ) ......................
Private fixed investment.........
103.785
104.628 104.842
102.154 104.421
N e w m o t o r v e h i c l e s ......................
13
1 1 1 .9 6 9
N e w m o t o r v e h i c l e s ......................
13
9 7 .1 9 1
9 6 .4 4 6
9 6 .8 6 3
9 7 .3 6 8
9 5 .9 7 9
9 6 .2 6 8
A u t o s ..................................................
14
9 1 .7 2 2
9 1 .3 6 7
9 4 .9 8 2
9 4 .6 2 9
8 8 .5 0 8
9 0 .1 3 4
9 2 .1 9 9
A u t o s ....................................................
14
9 6 .9 2 7
9 7 .8 2 4
9 7 .2 0 6
9 7 .8 9 5
9 7 .5 7 7
9 7 .9 9 1
9 7 .8 3 1
T r u c k s .................................................
15
1 1 5 .8 8 5
1 2 6 .1 6 4
1 1 9 .2 2 8
1 3 1 .3 8 0
1 2 2 .2 0 6
1 2 6 .2 6 8
1 2 4 .8 0 0
T r u c k s ................................................
15
9 7 .4 1 0
9 6 .0 9 2
9 6 .1 3 1
9 6 .4 1 5
9 7 .3 0 8
9 5 .0 7 2
9 5 .5 7 4
u tility v e h i c l e s ) ................
16
1 1 7 .6 0 1
1 2 7 .6 6 4
1 2 0 .4 0 4
1 3 5 .2 5 6
1 2 2 .8 2 9
1 2 8 .5 3 5
1 2 4 .0 3 6
u tility v e h i c l e s ) ................
16
9 4 .0 6 3
9 1 .2 4 4
9 1 .9 8 8
9 2 .2 6 4
9 2 .8 7 1
8 9 .7 8 4
9 0 .0 5 9
O t h e r ............................................
17
1 1 0 .0 4 5
1 2 0 .4 6 5
1 1 4 .4 6 4
1 2 0 .0 9 0
1 1 8 .6 5 3
1 1 8 .9 0 1
1 2 4 .2 1 5
O t h e r .............................................
17
1 0 8 .3 0 6
1 1 1 .5 0 9
1 0 9 .4 6 5
1 0 9 .7 7 3
1 1 1 .5 3 6
1 1 1 .7 7 8
1 1 2 .9 4 7
1 0 6 .3 9 9
1 1 2 .4 5 1
1 0 9 .7 1 0
1 1 6 .8 9 2
L ig h t t r u c k s (in c l u d i n g
9 6 .6 1 9
L ig h t t r u c k s ( in c lu d in g
N et p u r c h a s e s of u s e d a u to s
N et p u r c h a s e s of u s e d a u to s
a n d u s e d lig h t t r u c k s .............
18
9 8 .6 6 0
1 0 8 .3 4 9
1 0 3 .6 7 6
1 1 7 .0 4 9
1 0 3 .9 9 6
1 0 3 .8 4 9
1 0 8 .5 0 3
a n d u s e d lig h t t r u c k s ..............
18
8 7 .7 8 4
8 8 .1 1 6
8 8 .0 0 6
8 7 .7 5 3
8 8 .7 3 9
8 9 .4 9 5
8 6 .4 7 9
U s e d a u t o s ....................................
19
9 2 .3 5 0
9 6 .1 9 7
9 7 .6 7 2
1 0 1 .0 9 3
9 0 .3 6 9
9 4 .5 3 8
9 8 .7 8 8
U s e d a u t o s ....................................
19
8 8 .7 6 1
8 9 .1 1 8
8 8 .9 1 4
8 8 .8 0 8
8 9 .7 7 1
9 0 .3 5 4
8 7 .5 4 0
U s e d lig h t t r u c k s (i n c l u d i n g
U s e d lig h t t r u c k s (i n c l u d i n g
1 1 0 .4 4 2
1 3 5 .3 0 7
1 1 9 .5 8 1
1 1 4 .4 4 5
1 1 9 .5 6 0
u tility v e h i c l e s ) ......................
116.072
130.972
133.593
137.236
140.522
Gross government investment
A u t o s ........................................................
20 1 0 5 . 7 8 5 1 2 2 . 2 2 3
21 116.428 135.581
22 1 0 1 . 2 9 4 1 0 1 . 3 7 2
9 4 .0 6 6
9 0 .7 5 2
1 0 2 .7 5 6
1 0 2 .6 3 1
1 0 9 .3 5 2
T ru ck s
23
1 4 8 .3 8 4
1 2 4 .3 1 3
1 4 5 .9 5 7
1 4 5 .1 7 2
1 5 0 .1 9 4
1 5 2 .2 1 5
u tility v e h i c l e s ) ......................
Gross government investment
Net exports
1 2 2 .2 0 6
?4
2b
A u t o s ..........................................................
T r u c k s .......................................................
20 8 6 . 8 2 9
8 7 .1 1 7
8 8 .6 4 2
8 7 .1 3 6
8 6 .7 2 8
8 7 .7 3 1
8 5 .4 4 1
21 103.257 104.658 103.713 103.906 104.798 104.223 105.705
22 9 9 . 6 7 9 1 0 1 . 8 0 9 1 0 1 . 6 9 7 1 0 1 . 4 7 3 1 0 0 . 2 5 3 1 0 1 . 5 7 2 1 0 3 . 9 4 0
23
Net exports
94
1 0 4 .3 5 8
1 0 5 .5 3 0
1 0 4 .3 8 5
1 0 4 .6 8 7
1 0 6 .1 1 3
1 0 5 .0 3 6
1 0 6 .2 8 4
1 6 8 .3 2 0
1 9 2 .0 7 3
1 7 4 .2 9 4
E x p o r t s ...
2b
1 0 7 .2 6 2
1 0 7 .9 6 3
1 0 7 .6 4 6
1 0 7 .7 1 1
1 0 7 .7 9 9
1 0 7 .8 9 5
A u t o s ..................................................
26
1 5 9 .1 9 1
1 8 8 .9 3 9
1 6 9 .5 8 5
1 8 3 .2 9 1
1 7 6 .0 5 1
2 0 4 .2 9 2
1 9 2 .1 2 0
A u t o s ...
26
1 0 4 .8 0 2
1 0 5 .4 6 4
1 0 5 .2 6 6
1 0 5 .2 9 8
1 0 5 .2 9 8
1 0 5 .4 2 8
1 0 5 .8 3 2
T r u c k s .................................................
27
1 5 4 .7 0 9
1 6 7 .4 1 5
1 5 8 .4 4 2
1 6 7 .8 0 0
1 6 1 .4 8 7
1 8 1 .4 1 8
1 5 8 .9 5 7
T ru ck s.
27
1 0 9 .6 2 7
1 1 0 .3 7 9
1 0 9 .9 4 5
1 1 0 .0 4 2
1 1 0 .2 1 4
1 1 0 .2 7 8
1 1 0 .9 8 2
I m p o r t s ....................................................
28
1 0 9 .0 5 2
1 1 9 .0 2 2
1 1 5 .0 4 8
1 2 1 .2 4 3
1 1 9 .1 7 0
1 1 5 .8 8 4
1 1 9 .7 9 2
I m p o r t s ...
28
1 0 4 .7 7 0
1 0 5 .2 2 9
1 0 5 .1 8 8
1 0 5 .0 6 4
1 0 5 .0 9 5
1 0 5 .1 9 5
1 0 5 .5 6 2
A u t o s ..................................................
29
9 6 .6 5 3
1 0 7 .0 6 8
1 0 1 .4 3 5
1 0 4 .2 9 4
1 0 3 .0 2 0
1 0 8 .7 5 7
112.200
A u t o s ...
T r u c k s .................................................
30
1 2 3 .5 8 1
1 3 3 .0 6 1
1 3 0 .9 9 3
1 4 1 .0 6 0
1 3 8 .0 6 0
1 2 4 .3 3 5
1 2 8 .7 8 8
E x p o r ts
1 5 6 .9 1 2
1 7 7 .4 3 7
1 6 3 .7 0 5
1 7 5 .0 6 3
31
V
N e w ............................................................
33
D o m e s t i c .........................................
34
F o r e i g n .............................................
3S
29
1 0 3 .6 8 0
1 0 3 .8 1 7
1 0 3 .9 4 2
1 0 3 .6 4 2
1 0 3 .7 4 2
1 0 3 .7 4 2
1 0 4 .1 4 2
T r u c k s ................................................
30
1 0 5 .9 5 4
1 0 6 .6 9 1
1 0 6 .4 9 9
1 0 6 .5 3 1
1 0 6 .5 0 2
1 0 6 .6 9 8
1 0 7 .0 3 2
Change in private inventories....
31
9 8 .1 5 4
3?
A u to s
N e w .............................................................
34
35
T r u c k s .............................................................
37
F o r e i g n ...............................................
40
3fi
37
38
38
39
39
F o r e i g n .............................................
40
41
U sed
Addenda:
.....................................................
41
F in a l s a l e s o f m o to r v e h ic le s to
42
1 1 5 .8 3 0
1 1 6 .2 7 4
1 1 0 .6 1 0
1 1 5 .7 5 8
1 1 4 .6 4 1
1 1 8 .4 4 2
1 1 6 .2 5 5
a u t o s a n d n e w lig h t t r u c k s ......
43
1 0 5 .3 4 5
1 1 0 .3 8 5
1 0 8 .3 8 2
1 1 5 .8 8 9
1 0 6 .4 8 9
110.221
1 0 8 .9 4 1
2
3
44
9 2 .7 5 8
9 2 .8 8 2
9 8 .0 5 0
9 7 .6 2 7
9 1 .7 6 5
9 3 .4 6 8
45
1 1 1 .5 6 0
1 1 7 .2 6 9
1 1 3 .1 8 6
1 1 1 .3 1 4
1 1 5 .9 8 1
1 1 9 .9 7 1
d o m e s t i c p u r c h a s e r s ...................
1 . C o n s i s ts o f u s e d lig h t tr u c k s only.
2 . C o n s i s t s o f fin al s a l e s a n d c h a n g e in p r iv a te in v e n to r ie s o f n e w a u t o s a s s e m b l e d in t h e U n ite d S t a t e s .
3 . C o n s i s ts o f p e r s o n a l c o n s u m p tio n e x p e n d itu r e s , p r iv a te fix e d in v e s tm e n t, a n d g r o s s g o v e r n m e n t in v e s tm e n t.
d o m e s t i c p u r c h a s e r s ...................
42
9 9 .0 0 2
9 8 .5 9 6
9 8 .4 5 6
9 9 .0 5 5
9 8 .9 9 9
9 8 .1 7 5
a u t o s a n d n e w lig h t t r u c k s ......
43
9 5 .3 1 4
9 3 .9 8 2
9 4 .1 9 6
9 4 .6 3 7
9 4 .8 8 6
9 3 .1 5 0
2
3
44
9 8 .1 7 4
9 8 .9 3 4
9 8 .4 3 1
9 8 .9 7 6
9 8 .6 6 0
9 8 .9 8 9
9 9 .1 1 1
45
9 6 .9 2 4
9 7 .8 1 8
9 7 .2 0 3
9 7 .8 8 7
9 7 .5 7 4
9 7 .9 8 0
9 7 .8 3 0
P r i v a t e f ix e d i n v e s t m e n t in n e w
P r i v a t e f ix e d i n v e s t m e n t in n e w
D o m e s tic o u tp u t of n e w a u to s
1
Addenda:
F i n a l s a l e s o f m o t o r v e h i c l e s to
S a l e s o f im p o r te d n e w a u t o s
33
F o r e i g n ...............................................
36
U sed
1 0 8 .4 4 8
88.668
1 2 1 .8 1 0
D o m e s tic o u tp u t o f n e w a u to s
S a l e s o f im p o r te d n e w a u t o s
1. C o n s i s ts
2. C o n s i s t s
o f u s e d lig h t tr u c k s only.
o f fin al s a l e s a n d c h a n g e in p r iv a te in v e n to r ie s o f n e w a u t o s a s s e m b l e d in t h e U n ite d S t a te s .
3 . C o n s i s ts o f p e r s o n a l c o n s u m p tio n e x p e n d itu r e s , p r iv a te fix e d in v e s tm e n t, a n d g r o s s g o v e r n m e n t in v e s tm e n t.
9 3 .2 5 5
March 2007
Survey
D-45
C u r r e n t B u s in e s s
of
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
S e a s o n a lly a d ju s te d a t a n n u a l r a te s
L in e
2005
2006
2005
IV
L in e
2006
I
II
III
2005
2006
2005
2006
II
I
IV
IV
IV
III
1
2
4 2 0 .5
1 5 1 .0
1 5 1 .5
1 5 6 .5
1 5 5 .4
1 4 9 .1
1 5 2 .3
1 4 9 .3
A u to o u t p u t ..............................
1
2
4 3 0 .7
A u to o u t p u t ..............................
1 5 3 .0
1 5 2 .0
1 5 7 .9
1 5 5 .2
1 5 0 .1
1 5 2 .8
1 4 9 .8
T r u c k o u t p u t ............................
3
2 6 9 .5
2 5 8 .6
2 5 5 .3
2 6 2 .5
2 5 9 .1
2 7 5 .6
2 3 6 .9
T r u c k o u t p u t ............................
3
2 7 8 .1
2 7 1 .1
2 6 6 .5
2 7 3 .3
2 6 8 .1
2 9 1 .7
2 5 1 .2
4
4 2 1 .0
4 1 2 .9
3 8 8 .1
4 0 9 .5
4 0 5 .0
4 2 8 .7
4 0 8 .3
4
4 3 1 .1
4 2 5 .3
4 0 0 .6
4 1 9 .2
4 1 4 .9
4 4 4 .0
4 2 3 .2
M o t o r v e h i c l e o u t p u t ..........
F in a l s a l e s o f d o m e s tic p r o d u c t
4 1 0 .1
4 1 1 .8
4 1 8 .0
4 0 8 .2
4 2 8 .0
3 8 6 .2
M o t o r v e h i c l e o u t p u t ..........
F in a l s a l e s o f d o m e s tic p r o d u c t
4 2 2 .8
4 2 4 .3
4 2 8 .3
4 1 7 .8
4 4 3 .9
4 0 1 .0
P e rs o n a l c o n s u m p tio n
P e rs o n a l c o n s u m p tio n
e x p e n d i t u r e s ....................................
fa
3 7 3 .3
3 6 6 .9
3 4 5 .7
3 6 4 .4
3 6 4 .6
3 7 4 .6
3 6 4 .1
e x p e n d i t u r e s ....................................
5
3 8 2 .4
3 7 6 .9
3 5 5 .4
3 7 2 .4
3 7 3 .4
3 8 4 .4
3 7 7 .1
N e w m o t o r v e h i c l e s ......................
6
2 5 6 .3
2 4 2 .6
2 2 8 .1
2 4 0 .0
2 4 0 .4
2 4 7 .4
2 4 2 .8
N e w m o t o r v e h i c l e s .......................
6
2 6 6 .1
2 5 3 .4
2 3 7 .9
2 4 9 .3
2 5 0 .6
2 5 8 .4
2 5 5 .4
7
1 0 3 .7
1 0 5 .2
100.2
1 0 2 .5
1 0 7 .3
1 0 7 .0
1 0 4 .0
A u t o s ...................................................
7
1 0 7 .0
1 0 7 .5
1 0 3 .1
1 0 4 .7
1 0 9 .9
1 0 9 .2
1 0 6 .3
1 3 8 .8
8
1 5 9 .2
1 4 5 .9
1 3 4 .7
1 4 4 .6
1 4 0 .5
1 4 9 .2
1 4 9 .2
122.6
1 2 5 .9
1 2 1 .7
5 9 .2
5 8 .5
A u t o s ..................................................
L ig h t t r u c k s ( in c lu d in g
L ig h t t r u c k s (in c l u d i n g
8
1 5 2 .7
1 3 7 .5
1 2 7 .9
1 3 7 .5
1 3 3 .1
1 4 0 .4
a n d u s e d lig h t t r u c k s .............
9
1 1 6 .9
1 2 4 .3
1 1 7 .6
1 2 4 .3
1 2 4 .2
1 2 7 .2
1 2 1 .3
a n d u s e d lig h t t r u c k s ..............
9
1 1 6 .6
1 2 3 .3
1 1 7 .2
1 2 2 .9
U s e d a u t o s ....................................
10
5 8 .5
6 0 .2
5 7 .8
6 0 .5
6 0 .1
6 0 .9
5 9 .2
U s e d a u t o s ....................................
10
5 7 .2
5 8 .7
5 6 .3
5 8 .7
11
12
5 9 .5
6 4 .7
6 1 .0
6 4 .4
6 4 .3
6 6 .9
6 3 .3
1 2 8 .4
1 3 3 .1
1 3 1 .1
1 3 5 .5
1 2 9 .5
1 3 5 .2
1 3 2 .1
212.2
2 2 6 .0
210.6
2 1 6 .6
2 1 6 .5
u tility v e h i c l e s ) ......................
u tility v e h i c l e s ) ......................
N e t p u r c h a s e s of u s e d a u to s
N e t p u r c h a s e s of u s e d a u to s
5 8 .5
U s e d lig h t t r u c k s ( i n c lu d in g
U s e d lig h t t r u c k s ( i n c lu d in g
11
12
5 8 .4
6 4 .1
5 9 .9
6 3 .9
6 4 .1
6 6 .3
6 2 .1
u tility v e h i c l e s ) ......................
1 3 4 .9
1 3 8 .5
1 3 6 .1
1 4 1 .9
1 3 5 .8
1 3 8 .1
1 3 8 .0
P r i v a t e f i x e d i n v e s t m e n t ..............
N e w m o t o r v e h i c l e s ......................
13
200.0
210.1
2 0 4 .6
2 1 9 .0
2 0 5 .1
2 0 7 .9
2 0 8 .5
N e w m o t o r v e h i c l e s ........................
13
2 0 5 .7
2 1 7 .5
A u t o s ..................................................
14
6 7 .9
6 8 .3
7 0 .5
7 0 .8
6 7 .5
6 8 .9
A u t o s ....................................................
14
7 0 .1
6 9 .8
7 2 .6
7 2 .3
6 7 .6
6 8 .9
7 0 .4
T r u c k s .................................................
15
1 3 2 .1
1 4 1 .8
1 3 4 .1
1 4 8 .2
1 4 0 .5
1 3 9 .6
T r u c k s ................................................
15
1 3 5 .6
1 4 7 .6
1 3 9 .5
1 5 3 .7
1 4 3 .0
1 4 7 .7
1 4 6 .0
u tility v e h i c l e s ) ................
16
101.2
1 0 9 .9
1 0 3 .6
1 1 6 .4
1 0 5 .7
110.6
1 0 6 .8
O t h e r .............................................
17
3 4 .0
3 7 .2
3 5 .4
3 7 .1
3 6 .7
u tility v e h i c l e s ) ......................
P r i v a t e f i x e d i n v e s t m e n t .............
66.0
1 3 9 .1
L ig h t t r u c k s ( in c lu d in g
L ig h t t r u c k s (in c l u d i n g
u tility v e h i c l e s ) ................
16
9 5 .2
1 0 0 .3
9 5 .4
1 0 7 .5
9 8 .2
9 9 .4
9 6 .2
O t h e r ............................................
17
3 6 .9
4 1 .5
3 8 .7
4 0 .8
4 0 .9
4 1 .1
4 3 .4
3 6 .8
3 8 .4
N e t p u r c h a s e s o f u s e d a u to s
N et p u r c h a s e s o f u s e d a u to s
a n d u s e d lig h t t r u c k s ............
18
- 6 5 .1
-7 1 .7
- 6 8 .5
- 7 7 .1
- 6 9 .3
- 6 9 .8
- 7 0 .5
a n d u s e d lig h t t r u c k s ..............
18
- 7 4 .1
-8 1 .4
- 7 7 .9
-8 7 .9
- 7 8 .1
- 7 8 .0
- 8 1 .5
U s e d a u t o s ....................................
19
- 3 2 .7
-3 4 .2
- 3 4 .6
- 3 5 .8
- 3 2 .3
- 3 4 .1
-3 4 .5
U s e d a u t o s ....................................
19
-3 6 .8
-3 8 .3
- 3 8 .9
- 4 0 .3
-3 6 .0
- 3 7 .7
- 3 9 .4
- 3 7 .3
- 4 3 .1
-3 8 .9
-4 7 .7
- 4 2 .1
-4 0 .3
- 4 2 .1
1 4 .4
1 6 .8
1 4 .4
1 6 .2
1 6 .5
1 7 .0
1 7 .4
U s e d lig h t t r u c k s ( i n c lu d in g
U s e d lig h t t r u c k s ( i n c lu d in g
u tility v e h i c l e s ) ......................
20
1 4 .9
1 7 .6
1 4 .9
1 6 .9
1 7 .3
1 7 .7
1 8 .4
A u t o s ..........................................................
20
21
22
3 .4
3 .5
3 .3
3 .1
3 .5
3 .6
3 .9
T r u c k s .......................................................
23
- 3 2 .4
-3 7 .5
- 3 3 .9
- 4 1 .3
- 3 7 .0
- 3 5 .7
u tility v e h i c l e s ) ......................
-3 6 .0
G r o s s g o v e rn m e n t in v e s tm e n t
G ro s s g o v e rn m e n t
A u t o s ........................................................
21
22
i n v e s t m e n t ..........................................
11.6
3 .5
3 .2
1 3 .3
11.2
3 .7
1 3 .7
1 3 .7
1 3 .8
1 4 .2
1 4 .5
N e t e x p o r t s ...............................................
24
-9 8 .4
- 1 0 5 .8
- 1 0 4 .3
- 1 0 9 .3
- 1 0 8 .4
- 9 8 .0
- 1 0 7 .6
- 1 1 3 .6
- 1 1 2 .7
- 1 0 1 .7
- 1 1 2 .3
E x p o r t s ...................................................
25
4 1 .0
4 6 .4
4 2 .8
4 5 .7
4 4 .0
5 0 .2
4 5 .5
4 4 .0
4 6 .0
4 9 .3
4 7 .4
5 4 .1
4 9 .4
A u t o s ....................................................
26
1 9 .5
2 3 .1
2 0 .7
2 2 .4
2 1 .5
2 5 .0
2 3 .5
2 0 .4
2 4 .4
21.8
2 3 .6
2 2 .7
2 6 .4
2 4 .9
T r u c k s .................................................
27
2 1 .5
2 3 .3
22.0
2 3 .3
2 2 .4
2 5 .2
2 7 .8
2 4 .5
I m p o r t s .....................................................
28
1 3 9 .4
1 5 2 .2
1 4 7 .1
1 5 5 .0
1 5 2 .3
1 4 8 .1
1 5 3 .1
1 5 5 .8
1 6 1 .6
A u t o s ...................................................
29
6 7 .1
7 4 .3
7 0 .4
7 2 .4
7 1 .5
7 5 .5
7 7 .9
T r u c k s ................................................
30
7 2 .2
7 7 .7
7 6 .5
8 2 .4
8 0 .7
C h a n g e i n p r i v a t e i n v e n t o r i e s ......
31
- 0 .4
- 3 .2
2 3 .4
8 .5
3 .0
32
- 0 .7
1 .3
6.1
- 4 .3
- 0 .7
4 .2
33
0 .5
4 .0
9 .9
5 .5
1.0
2 .3
7 .2
34
0 .3
2.2
1 0 .4
3 .9
0 .7
2 .3
1 .7
- 0 .3
1.6
2.8
1.0
12.0
0 .5
E x p o r t s ...................................................
25
A u t o s ..................................................
26
T r u c k s ................................................
27
2 3 .6
2 5 .7
2 4 .2
2 5 .6
2 4 .7
I m p o r t s ....................................................
28
1 4 6 .1
1 6 0 .1
1 5 4 .7
1 6 2 .8
1 6 0 .1
A u t o s ..................................................
29
6 9 .6
7 7 .2
7 3 .2
7 5 .0
7 4 .2
7 8 .3
8 1 .1
T r u c k s ................................................
30
7 6 .5
8 2 .9
8 1 .5
8 7 .8
8 5 .9
7 7 .5
8 0 .5
C h a n g e i n p r i v a t e i n v e n t o r i e s ....
31
- 0 .5
-
2.8
2 3 .6
8 .5
3 .2
22.1
A u t o s ................................................................
A u t o s ..............................................................
32
- 0 .7
1 .3
10.6
5 .8
- 3 .9
3 .9
N e w .............................................................
N e w ...........................................................
33
0 .5
3 .9
9 .7
5 .4
1.0
2 .3
D o m e s t i c ..........................................
1 1 .4
2.1
1.8
10.0
3 .7
0 .7
-0 .3
1.6
0 .3
102.1
1 4 .1
-
-
0.8
-
- 0 .5
6.8
0.2
11.2
36
0.2
- 1.2
- 2 .5
0 .9
0 .4
T r u c k s ..............................................................
37
0 .3
- 4 .1
T r u c k s .............................................................
37
0 .3
-4 .1
1 3 .0
2 .7
7 .1
2.2
0.1
- 2.8
- 0.2
-2 6 .0
N e w .............................................................
38
1 .5
-
2.1
1 3 .2
N e w ...........................................................
38
1 .7
-
2.1
- 2.8
0.6
- 2.0
1 5 .2
0.1
1 0 .7
5 .5
-2 4 .9
D o m e s t i c ..........................................
39
0 .9
- 2 .7
1 1 .9
2 .3
-2 3 .9
F o r e i g n ...............................................
40
1.......................................................
41
0.6
1.6
-
R e s i d u a l ..............................................................
42
1 .3
2 .5
3 .3
43
5 2 8 .4
5 3 0 .4
5 0 4 .5
D o m e s t i c ........................................
34
0 .3
F o r e i g n .............................................
35
U s e d ..........................................................
D o m e s t i c ........................................
39
1.1
F o r e i g n .............................................
40
0 .7
1.....................................................
41
- 1 .5
42
5 2 3 .1
1 3 .8
-
- 1 .4
- 4 .9
1 1 .9
1 .3
1.6
-
2.2
2 .5
5 2 3 .1
1.2
-
3 .2
-
- 3 .6
- 5 .8
-
5 1 7 .7
5 3 0 .4
1 .7
F o r e i g n ...............................................
35
5 .0
U s e d ..........................................................
36
-1 .3
2.8
1.0
1.1
U sed
-
-
0.6
2.2
1 .3
- 2 .4
0.8
7 5 .2
- 2 3 .5
1.8
0.1
0 .3
- 5 .4
- 3 .1
4 .8
- 3 .2
0.2
- 2 5 .4
9 .2
5 .1
- 2 3 .0
1 0 .4
1 .9
-2 1 .9
2.6
0.2
- 1 .3
7 2 .6
-
22.1
6 .4
1.2
-
1.0
1.2
1 .5
-
3 .1
-
2.8
2.0
- 3 .9
- 6 .4
-
3 .6
4 .1
0 .4
5 2 2 .9
5 4 0 .3
5 3 0 .3
1 7 7 .0
A ddenda:
A ddenda:
F in a l s a l e s o f m o to r v e h ic le s to
F i n a l s a l e s o f m o t o r v e h i c l e s to
d o m e s t i c p u r c h a s e r s ...................
5 2 2 .9
4 9 6 .8
5 2 0 .5
a u t o s a n d n e w lig h t t r u c k s ......
2
3
5 2 8 .0
a u t o s a n d n e w lig h t t r u c k s ......
44
1 7 1 .1
1 7 9 .3
1 7 6 .1
1 8 8 .3
1 7 3 .0
1 7 9 .1
2
3
45
1 0 2 .5
102.6
1 0 8 .3
1 0 7 .9
1 0 1 .4
1 0 3 .3
9 8 .0
46
9 3 .6
9 4 .9
9 3 .4
9 7 .3
100.6
102.2
43
1 6 3 .1
1 6 8 .6
1 6 5 .9
1 7 8 .2
1 6 4 .2
1 6 6 .8
1 6 5 .1
44
100.6
1 0 1 .5
1 0 6 .6
1 0 6 .7
100.0
102.1
9 7 .0
D o m e s tic o u tp u t of n e w a u t o s
45
9 0 .7
9 6 .2
9 2 .3
9 1 .4
9 4 .9
9 8 .6
9 9 .9
S a l e s o f im p o r te d n e w a u t o s
1 . C o n s i s ts o f u s e d lig h t tr u c k s only.
2 . C o n s i s ts o f fin al s a l e s a n d c h a n g e in p r iv a te in v e n to r ie s o f n e w a u t o s a s s e m b l e d in t h e U n ite d S t a te s .
3 . C o n s i s ts o f p e r s o n a l c o n s u m p tio n e x p e n d itu r e s , p r iv a te fix ed in v e s tm e n t, a n d g r o s s g o v e r n m e n t in v e s tm e n t.
d o m e s t i c p u r c h a s e r s .....................
P r i v a t e f ix e d i n v e s t m e n t in n e w
P r i v a t e f ix e d i n v e s t m e n t in n e w
S a l e s o f im p o rte d n e w a u to s
3 .5
1 3 .5
- 1 0 8 .7
24
D o m e s tic o u tp u t o f n e w a u to s
3 .5
1 3 .0
5 0 .0
23
U sed
3 .1
1 3 .1
110.1
T r u c k s .......................................................
N e t e x p o r t s ...............................................
-
3 .5
11.0
9 8 .3
1. C o n s i s ts o f u s e d lig h t tr u c k s only.
2. C o n s i s t s o f final s a l e s a n d c h a n g e in p r iv a te in v e n to r ie s o f n e w a u t o s a s s e m b l e d in t h e U n ite d S t a te s .
3 . C o n s i s ts o f p e r s o n a l c o n s u m p tio n e x p e n d itu r e s , p r iv a te fix ed in v e s tm e n t, a n d g r o s s g o v e r n m e n t in v e s tm e n t.
N ote . C h a in e d (2 0 0 0 ) d o lla r s e r i e s a r e c a lc u la t e d a s t h e p r o d u c t o f th e c h a in - ty p e q u a n tity in d e x a n d t h e 2 0 0 0 c u rr e n td o lla r v a lu e o f th e c o r r e s p o n d i n g s e r i e s , d iv id e d b y 100. B e c a u s e th e f o rm u la fo r t h e c h a in - ty p e q u a n tity i n d e x e s u s e s
w e i g h ts o f m o r e t h a n o n e p e rio d , th e c o r r e s p o n d i n g c h a in e d - d o l la r e s t i m a t e s a r e u s u a lly n o t a d d itiv e . T h e r e s id u a l lin e is
t h e d if f e r e n c e b e tw e e n t h e first lin e a n d t h e s u m o f t h e m o s t d e ta il e d lin e s, e x c lu d in g th e lin e s in t h e a d d e n d a .
D-46
March 2007
B. NIPA-Related Table
Table B. 1 presents the m ost recent estimates o f personal income and its components and the disposition of
personal income. These estimates were released on March 1, 2007.
Table B.1 Personal Income and Its Disposition
[B illio n s o f d o lla r s ; m o n th l y e s t i m a t e s s e a s o n a l l y a d j u s t e d a t a n n u a l r a t e s ]
2005
D ec.
Personal Income................................................................
C o m p e n s a t i o n o f e m p l o y e e s , r e c e i v e d ....................................................
2006
2007
2006
2005
Jan .
Feb.
M a rc h .
A p ril
M ay
Ju n e
J u ly r
A u g .r
S e p t.r
O c t .'
N o v .r
D ec
.'
J a n .?
10,239.2 10,884.0 10,526.1 10,664.9 10,721.9 10,777.4 10,784.3 10,795.3 10,842.2 10,892.5 10,937.1 10,988.7 11,025.4 11,061.3 11,117.0 11,225.1
7 ,4 0 7 .2
7 ,4 5 1 .3
7 ,4 3 4 .9
7 ,4 0 6 .8
7 ,4 8 0 .0
7 ,5 1 9 .8
7 ,5 5 8 .5
7 ,5 8 9 .5
7 ,6 2 9 .3
7 ,7 1 5 .5
W a g e a n d s a l a r y d i s b u r s e m e n t s .................................................................
5 ,6 6 4 .8
6, 022.6
5 ,8 0 7 .2
5 ,9 1 9 .8
5 ,9 7 6 .6
6 ,0 1 3 .8
5 ,9 9 3 .6
5 ,9 6 3 .5
5 ,9 8 5 .7
6, 011.6
6 ,0 1 9 .0
6 ,0 5 2 .3
6 ,0 8 3 .9
6 ,1 0 9 .0
6 ,1 4 2 .5
6 ,2 1 4 .0
P r i v a t e i n d u s t r i e s ...............................................................................................
4 ,6 8 7 .1
7 ,4 7 6 .9
5 ,0 0 8 .7
4 ,8 1 6 .6
4 ,9 2 4 .5
4 ,9 7 7 .9
5 ,0 1 3 .4
4 ,9 9 0 .4
4 ,9 5 8 .1
4 ,9 7 6 .4
4 ,9 9 7 .0
4 ,9 9 8 .5
5 ,0 2 5 .8
5 ,0 5 5 .0
5 ,0 7 8 .0
5 ,1 0 9 .8
5 ,1 7 4 .0
G o o d s - p r o d u c i n g i n d u s t r i e s ......................................................................
1 ,1 7 4 .2
7 ,0 3 0 .3
7 ,2 1 0 .6
7 ,3 4 2 .5
7 ,4 3 4 .7
7 ,4 6 7 .9
1 ,1 0 1 .3
1 ,1 7 5 .5
1 ,1 2 7 .0
1 ,1 6 4 .0
1 ,1 7 9 .5
1 ,1 8 8 .4
1 ,1 7 4 .3
1 ,1 7 0 .4
M a n u f a c t u r i n g ..................................................................................................
7 0 4 .7
7 3 4 .0
7 1 3 .9
7 3 4 .7
7 4 4 .3
7 4 9 .6
7 3 6 .2
7 3 0 .9
7 3 1 .2
7 3 0 .5
7 2 9 .3
7 2 7 .4
7 3 1 .4
7 3 0 .1
7 3 2 .8
7 3 0 .5
S e r v i c e s - p r o d u c i n g i n d u s t r i e s ..................................................................
3 ,5 8 5 .8
3 ,8 3 3 .3
3 ,6 8 9 .6
3 ,7 6 0 .5
3 ,7 9 8 .4
3 ,8 2 5 .0
3 ,8 1 6 .1
3 ,7 8 7 .7
3 ,8 0 2 .2
3 ,8 2 4 .8
3 ,8 2 7 .2
3 ,8 5 4 .7
3 ,8 7 7 .4
3 ,8 9 9 .5
3 ,9 2 5 .7
3 ,9 9 0 .2
T r a d e , t r a n s p o r t a t i o n , a n d u t i l i t i e s ..................................................
9 3 7 .2
9 9 3 .7
9 5 8 .7
9 7 5 .3
9 8 4 .8
9 9 0 .8
9 9 2 .7
9 8 7 .1
9 9 2 .6
9 9 5 .2
9 9 3 .9
9 9 7 .8
1 ,1 7 2 .2
1 ,1 7 1 .3
1 ,1 7 1 .1
1 ,1 7 7 .6
1 ,1 7 8 .5
1 ,1 8 4 .0
1 ,1 8 3 .8
1, 000.2
1 ,0 0 6 .4
1 ,0 0 7 .6
1 ,0 1 0 .5
O t h e r s e r v i c e s - p r o d u c i n g i n d u s t r i e s .............................................
2 ,6 4 8 .5
2 ,8 3 9 .6
2 ,7 3 0 .9
2 ,7 8 5 .3
2 ,8 1 3 .7
2 ,8 3 4 .2
2 ,8 2 3 .4
2 ,8 0 0 .6
2 ,8 0 9 .6
2 ,8 2 9 .6
2 ,8 3 3 .3
2 ,8 5 7 .0
2 ,8 7 7 .2
2 ,8 9 3 .1
2 ,9 1 8 .1
2 ,9 7 9 .7
G o v e r n m e n t ............................................................................................................
9 7 7 .7
1 ,0 1 3 .9
9 9 0 .6
9 9 5 .3
9 9 8 .7
1 ,0 0 0 .4
1 ,0 0 3 .2
1 ,0 0 5 .4
1 ,0 0 9 .2
1 ,0 1 4 .6
1 ,0 2 0 .5
1 ,0 2 6 .5
1 ,0 2 8 .9
1 ,0 3 1 .0
1 ,0 3 2 .7
1 ,0 4 0 .0
S u p p l e m e n t s t o w a g e s a n d s a l a r i e s ..........................................................
1 ,3 6 5 .5
1 ,4 5 4 .3
1 ,4 0 3 .4
1 ,4 2 2 .7
1 ,4 3 0 .7
1 ,4 3 7 .4
1 ,4 4 1 .3
1 ,4 4 3 .3
1 ,4 4 9 .0
1 ,4 5 6 .3
1 ,4 6 1 .1
1 ,4 6 7 .5
1 ,4 7 4 .6
1 ,4 8 0 .5
1 ,4 8 6 .8
1 ,5 0 1 .4
9 3 3 .2
9 9 2 .7
9 6 0 .9
9 6 7 .4
9 7 1 .6
9 7 5 .7
9 8 1 .4
9 8 5 .6
9 9 0 .1
9 9 5 .6
1, 000.2
1 ,0 0 4 .5
1 ,0 0 9 .5
1 ,0 1 3 .6
1 ,0 1 7 .7
1 ,0 2 4 .4
E m p lo y e r c o n trib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e
4 3 2 .3
4 6 1 .5
4 4 2 .5
4 5 5 .3
4 5 9 .1
4 6 1 .7
4 6 0 .0
4 5 7 .7
4 5 8 .9
4 6 0 .7
4 6 0 .9
4 6 3 .0
4 6 5 .2
4 6 6 .8
4 6 9 .1
4 7 7 .0
P r o p r i e t o r s ’ i n c o m e w ith IVA a n d C C A d j ...............................................
9 7 0 .7
1 ,0 1 5 .0
1 ,0 0 1 .4
1 ,0 0 6 .6
1 ,0 0 5 .7
1 ,0 1 2 .5
1, 010.1
1 ,0 1 4 .8
1 ,0 1 0 .7
1 ,0 0 9 .9
1 ,0 1 7 .2
1 ,0 1 7 .4
1 ,0 2 3 .7
1 ,0 2 5 .2
1 ,0 2 6 .4
1 ,0 2 7 .9
2 8 .1
2 4 .6
2 3 .9
2 3 .2
2 0 .5
1 7 .5
1 4 .6
1 7 .1
2 1 .5
2 6 .4
2 8 .4
2 8 .6
2 5 .0
2 8 .0
9 9 6 .1
9 9 2 .9
9 9 5 .7
9 9 1 .0
9 9 5 .3
9 9 6 .6
1 ,0 0 1 .4
9 9 9 .9
7 3 .4
7 8 .1
8 3 .4
8 1 .4
8 0 .8
7 9 .1
8 1 .6
E m p lo y e r c o n tri b u tio n s fo r e m p lo y e e p e n s io n a n d
i n s u r a n c e f u n d s .................................................................................................
F a r m ..............................................................................................................................
3 0 .2
N o n f a r m .....................................................................................................................
22.6
9 4 0 .4
9 9 2 .4
9 7 3 .2
9 8 2 .0
9 8 1 .8
9 8 9 .3
9 8 9 .6
9 9 7 .3
R e n t a l i n c o m e o f p e r s o n s w ith C C A d j .....................................................
7 2 .8
7 6 .7
8 0 .5
7 8 .0
7 5 .9
7 6 .4
7 4 .2
7 1 .8
P e r s o n a l i n c o m e r e c e i p t s o n a s s e t s ..........................................................
1 ,5 1 9 .4
1 ,6 5 7 .6
1 ,5 9 9 .1
1 ,6 0 0 .8
1 ,6 0 2 .1
1 ,6 0 3 .9
1 ,6 2 5 .4
1 ,6 4 7 .3
1 ,6 7 0 .2
1 ,6 7 6 .7
1 ,6 8 3 .5
1 ,6 9 0 .6
1 ,6 9 3 .6
1 ,6 9 7 .0
1 ,7 0 0 .1
1 ,7 1 4 .5
P e r s o n a l i n t e r e s t i n c o m e ..............................................................................
9 4 5 .0
1 ,0 1 8 .1
9 9 4 .9
9 9 2 .0
9 8 9 .1
9 8 6 .2
1 ,0 0 2 .7
1 ,0 1 9 .2
1 ,0 3 5 .6
1 ,0 3 5 .7
1 ,0 3 5 .8
1 ,0 3 5 .9
1 ,0 3 2 .0
1 ,0 2 8 .1
1 ,0 2 4 .2
1 ,0 3 2 .3
P e r s o n a l d iv i d e n d i n c o m e ...........................................................................
5 7 4 .4
6 3 9 .6
6 0 4 .2
6 0 8 .8
6 1 3 .0
6 1 7 .8
6 2 2 .7
6 2 8 .2
6 3 4 .6
6 4 1 .0
6 4 7 .7
6 5 4 .6
6 6 1 .6
P e r s o n a l c u r r e n t t r a n s f e r r e c e i p t s ................................................................
1 ,5 2 6 .6
1 ,6 0 2 .3
1 ,5 3 6 .0
1 ,5 6 6 .3
1 ,5 6 8 .7
1 ,5 7 6 .3
1 ,5 8 0 .2
1 ,5 9 1 .1
1 ,5 9 7 .8
1 ,6 0 8 .0
1 ,6 2 2 .5
1 ,6 2 5 .5
1 ,6 2 1 .5
G o v e r n m e n t s o c i a l b e n e f i t s t o p e r s o n s ............................................
1 ,4 8 0 .9
1 ,5 6 7 .0
1 ,5 0 0 .5
1 ,5 3 1 .9
1 ,5 3 4 .3
1 ,5 4 1 .7
1 ,5 4 5 .4
1 ,5 5 6 .1
1 ,5 6 2 .6
1 ,5 7 2 .6
1 ,5 8 7 .0
1 ,5 8 9 .8
1 ,5 8 5 .6
8 6 0 .1
9 0 1 .4
9 1 0 .3
9 1 7 .9
9 3 5 .8
9 3 1 .4
9 3 8 .9
9 4 1 .6
68.2
668.8
6 7 5 .9
6 8 2 .2
1 ,6 2 5 .5
1 ,6 4 3 .7
1 ,6 6 6 .4
1 ,5 8 9 .4
1 ,6 0 7 .6
1 ,6 3 0 .4
9 4 5 .8
9 6 4 .8
O l d - a g e , s u r v i v o r s , d is a b ility , a n d h e a l t h i n s u r a n c e
b e n e f i t s ...........................................................................................................
8 4 4 .9
9 3 1 .4
9 2 0 .8
9 2 7 .9
9 3 9 .7
9 6 7 .2
G o v e r n m e n t u n e m p l o y m e n t i n s u r a n c e b e n e f i t s .................
3 1 .3
2 7 .3
3 0 .1
2 8 .6
2 7 .4
2 7 .4
2 7 .0
2 7 .0
2 7 .0
2 7 .3
2 7 .3
2 7 .3
2 7 .0
2 7 .3
2 7 .0
2 7 .3
O t h e r ......................................................................................................................
6 0 4 .6
6 0 8 .3
6 1 0 .3
6 0 1 .9
5 9 6 .6
5 9 6 .4
5 9 7 .6
6 0 1 .2
5 9 9 .9
6 1 3 .8
6 2 0 .7
6 2 2 .8
6 1 7 .1
6 1 6 .4
6 1 5 .8
6 3 5 .8
O t h e r c u r r e n t t r a n s f e r r e c e i p t s , f r o m b u s i n e s s ( n e t ) ..............
L e s s : 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 i a l i n s u r a n c e ...................
4 5 .7
3 5 .3
3 5 .5
3 4 .4
3 4 .5
3 4 .6
3 4 .8
3 5 .0
3 5 .2
3 5 .4
3 5 .5
3 5 .7
3 5 .9
3 6 .1
3 6 .1
3 6 .1
8 8 0 .6
9 4 4 .5
9 0 1 .5
9 2 9 .3
9 3 7 .8
9 4 3 .0
9 4 0 .5
9 3 6 .6
9 3 9 .4
9 4 3 .4
9 4 4 .2
9 4 8 .0
9 5 3 .4
9 5 6 .7
9 6 1 .6
9 8 0 .7
Less: Personal current taxes............................................
1,203.1
1,360.9
1,261.5
1,317.8
1,333.9
1,346.2
1,357.5
1,358.1
1,367.5
1,360.8
1,361.0
1,365.6
1,378.6
1,387.0
1,396.7
1,431.8
Equals: Disposable personal income...............................
9,036.1
9,523.1
9,264.6
9,347.1
9,388.1
9,431.3
9,426.8
9,437.2
9,474.6
9,531.8
9,576.1
9,623.0
9,646.8
9,674.3
9,720.3
9,793.3
Less: Personal outlays......................................................
9,070.9
9,625.2
9,292.5
9,371.3
9,418.6
9,465.7
9,522.3
9,587.5
9,621.2
9,696.0
9,716.0
9,718.1
9,747.3
9,784.1
9,854.5
9,909.8
P e r s o n a l c o n s u m p t i o n e x p e n d i t u r e s ..........................................................
8 ,7 4 2 .4
9 ,2 6 9 .0
8 ,9 5 5 .5
9 ,0 3 4 .4
9 ,0 7 9 .2
9 ,1 2 3 .8
9 ,1 7 5 .2
9 ,2 3 8 .6
9 ,2 7 0 .5
9 ,3 3 8 .9
9 ,3 5 2 .7
9 ,3 4 8 .5
9 ,3 7 5 .1
9 ,4 1 0 .9
9 ,4 8 0 .3
9 ,5 3 2 .2
1 ,0 8 4 .6
D u r a b l e g o o d s .......................................................................................................
1 ,0 3 3 .1
1 ,0 7 0 .3
1 ,0 3 9 .1
1 ,0 6 9 .8
1 ,0 5 5 .7
1 ,0 6 6 .9
1 ,0 6 4 .1
1 ,0 5 7 .9
1 ,0 6 3 .5
1 ,0 8 5 .2
1 ,0 6 8 .9
1 ,0 7 2 .3
1 ,0 7 4 .0
1 ,0 8 0 .6
N o n d u ra b le g o o d s
2 ,5 3 9 .3
2 ,7 1 5 .0
2 ,5 9 4 .1
2 ,6 5 5 .7
2 ,6 5 4 .5
2 ,6 6 4 .5
2 ,7 0 3 .9
2 ,7 2 8 .3
2 ,7 3 2 .0
2 ,7 5 5 .9
2 ,7 6 1 .1
2 ,7 2 6 .2
2 ,7 1 1 .6
2 ,7 2 0 .6
2 ,7 6 6 .0
2 ,7 7 3 .6
S e r v i c e s ........
5 ,1 7 0 .0
5 ,4 8 3 .7
5 ,3 2 2 .3
5 ,3 0 8 .9
5 ,3 6 9 .0
5 ,3 9 2 .5
5 ,4 0 7 .2
5 ,4 5 2 .4
5 ,4 7 5 .0
5 ,4 9 7 .8
5 ,5 2 2 .6
5 ,5 5 0 .0
5 ,5 8 9 .5
5 ,6 0 9 .7
5 ,6 2 9 .6
5 ,6 6 8 .0
P e r s o n a l i n t e r e s t p a y m e n t s 1...........................................................................
2 0 9 .4
P e r s o n a l c u r r e n t t r a n s f e r p a y m e n t s ...........................................................
1 ,0 9 0 .6
2 2 9 .9
2 1 4 .7
2 1 6 .6
2 1 8 .5
2 2 0 .4
221.6
2 2 2 .9
2 2 4 .2
2 2 9 .9
2 3 5 .5
2 4 1 .2
2 4 2 .0
2 4 2 .7
2 4 3 .4
2 4 6 .6
1 1 9 .2
1 2 6 .3
1 2 2 .3
1 2 0 .4
1 2 0 .9
1 2 1 .4
1 2 5 .5
1 2 6 .0
1 2 6 .5
1 2 7 .2
1 2 7 .8
1 2 8 .3
1 3 0 .2
1 3 0 .5
1 3 0 .8
1 3 1 .0
To g o v e r n m e n t
7 2 .0
7 8 .0
7 4 .7
7 5 .2
7 5 .7
7 6 .3
7 6 .8
7 7 .3
7 7 .9
7 8 .4
7 9 .0
7 9 .5
7 9 .8
8 0 .1
8 0 .3
8 0 .6
T o t h e r e s t o f t h e w o r l d ( n e t ) .....................................................................
4 7 .1
4 8 .3
4 7 .6
4 5 .2
4 5 .2
4 5 .2
4 8 .7
4 8 .7
4 8 .7
4 8 .8
4 8 .8
4 8 .8
5 0 .4
5 0 .4
5 0 .4
5 0 .4
Equals: Personal saving...................................................
-34.8
-102.1
-27.8
-24.2
-30.6
-34.4
-95.5
-150.3
-146.6
-164.2
-139.8
-95.0
-100.5
-109.8
-134.2
-116.4
Personal saving as percentage of disposable personal
income............................................................................
-0.4
-1.1
-0.3
-0.3
-0.3
-0.4
-1.0
-1.6
-1.5
-1.7
-1.5
-1.0
-1.0
-1.1
-1.4
-1.2
8 ,1 0 4 .6
8 ,3 1 2 .9
8,220.1
8 ,2 5 3 .6
8 ,2 8 3 .8
8 ,2 9 2 .9
8 ,2 5 1 .4
8 ,2 3 2 .0
8 ,2 5 2 .8
8 ,2 7 7 .6
8 ,2 9 4 .2
8 ,3 6 1 .4
8 ,4 0 0 .8
8 ,4 2 2 .4
8 ,4 3 4 .1
3 0 ,4 7 3
3 1 ,8 0 5
3 1 ,0 9 4
3 1 ,3 5 1
3 1 ,4 6 8
3 1 ,5 9 1
3 1 ,5 5 4
3 1 ,6 6 5
3 1 ,8 2 3
3 1 ,9 4 3
3 2 ,0 7 1
3 2 ,1 2 3
3 2 ,1 8 9
3 2 ,3 1 7
3 2 ,5 3 5
Addenda:
D i s p o s a b l e p e r s o n a l in c o m e :
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s 2.......................................................
8 ,4 8 0 .1
P e r c a p ita :
C u r r e n t d o l l a r s .......................................................................................................
C h a i n e d ( 2 0 0 0 d o l l a r s ) ...................................................................................
P o p u l a t i o n (m i d p e r i o d , t h o u s a n d s )
3.........................................................
2 7 ,3 3 2
2 7 ,7 6 3
2 7 ,5 8 9
2 7 ,6 8 3
2 7 ,7 6 7
2 7 ,7 7 8
2 7 ,6 2 0
3 1 ,5 6 5
2 7 ,5 3 4
2 7 ,5 8 2
2 7 ,6 3 5
2 7 ,6 6 7
2 7 ,8 6 7
2 7 ,9 7 4
2 8 ,0 2 4
2 8 ,0 4 1
2 8 ,1 7 2
2 9 6 ,5 2 4
2 9 9 ,4 2 4
2 9 7 ,9 0 6
2 9 8 ,1 2 9
2 9 8 ,3 3 4
2 9 8 ,5 5 1
2 9 8 ,7 8 4
2 9 9 ,0 2 2
2 9 9 ,2 7 1
2 9 9 ,5 2 8
2 9 9 ,7 8 8
3 0 0 ,0 5 1
3 0 0 ,3 0 6
3 0 0 ,5 4 5
3 0 0 ,7 7 6
3 0 1 ,0 0 9
7 ,8 4 1 .2
8 ,0 9 1 .1
7 ,9 4 5 .8
7 ,9 7 7 .5
8 ,0 1 1 .3
8 ,0 3 1 .2
8 ,0 5 8 .7
8 ,0 7 5 .0
8, 110.1
8 ,1 0 0 .7
8, 122.8
8 ,1 6 4 .2
8 ,1 9 3 .1
8 ,2 2 5 .8
8 ,2 5 4 .0
1, 211.1
1,222.6
1 ,2 3 1 .9
P e r s o n a l c o n s u m p tio n e x p e n d itu r e s :
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s ..........................................................
8, 022.6
D u r a b l e g o o d s .......................................................................................................
1 ,1 4 5 .3
1 ,2 0 2 .9
1 ,1 6 1 .8
1 ,1 9 5 .2
1 ,1 8 1 .0
1 ,1 9 5 .2
1 ,1 9 1 .7
1 ,1 8 4 .9
1 ,1 9 4 .2
1 ,2 1 8 .0
1 ,1 9 9 .0
1 ,2 0 9 .5
N o n d u r a b l e g o o d s ..............................................................................................
2 ,2 7 6 .8
2 ,3 6 2 .1
2 ,3 1 0 .5
2 ,3 4 3 .3
2 ,3 4 6 .4
2 ,3 3 8 .6
2 ,3 4 7 .3
2 ,3 5 2 .1
2 ,3 5 3 ,9
2 ,3 6 0 .9
2 ,3 5 7 .4
2 ,3 6 2 .1
2 ,3 7 7 .3
2 ,3 9 2 .4
2 ,4 1 4 .0
2 ,4 1 6 .4
S e r v i c e s .....................................................................................................................
4 ,4 3 6 .6
4 ,5 5 0 .0
4 ,4 9 1 .6
4 ,4 6 5 .4
4 ,5 0 5 .3
4 ,5 1 2 .8
4 ,5 1 5 .3
4 ,5 4 2 .1
4 ,5 4 8 .9
4 ,5 5 8 .1
4 ,5 6 6 .4
4 ,5 7 5 .4
4 ,5 9 8 .8
4 ,6 0 3 .7
4 ,6 0 7 .5
4 ,6 2 5 .8
I m p lic it p r i c e d e f la to r , 2 0 0 0 = 1 0 0 ...........................................................
1 1 1 .4 9 0
1 1 4 .5 6 0
1 1 2 .7 0 7
1 1 3 .2 4 9
1 1 3 .3 3 0
1 1 3 .7 2 7
1 1 4 .2 4 4
1 1 4 .6 4 0
1 1 4 .8 0 5
1 1 5 .1 5 1
1 1 5 .4 5 5
1 1 5 .0 8 9
1 1 4 .8 3 2
1 1 4 .8 6 4
1 1 5 .2 5 0
1 1 5 .4 8 6
0.1
0.1
0.4
0.5
0.4
0.5
0.1
0.2
0 .4
0.6
0 .5
0 .5
0 .3
0 .3
0.2
0.8
0 .7
0 .3
0 .7
0.0
0 .3
0.2
0 .4
0.1
- 0.1
0 .3
1 ,2 4 0 .2
Percent change from preceding period:
Personal income, current dollars.....................................
5.2
6.3
C u r r e n t d o l l a r s .......................................................................................................
4 .1
5 .4
C h a i n e d ( 2 0 0 0 ) d o l l a r s ...................................................................................
1.2
2.6
C u r r e n t d o l l a r s .......................................................................................................
6 .5
6.0
C h a i n e d ( 2 0 0 0 ) d o l l a r s ...................................................................................
3 .5
3 .2
0.5
1.3
0.5
0.5
0 .4
0 .9
0 .4
0 .5
0 .4
0 .4
0 .4
0.1
0 .4
0 .9
0 .5
0 .5
0 .5
0 .4
0 .4
0.1
0.3
0.3
0.5
1.0
0.2
0 .3
0 .5
0.8
0 .5
0 .3
0.1
0 .5
0 .3
0 .4
0 .7
0 .5
0 .5
0 .4
0 .4
0 .3
D i s p o s a b l e p e r s o n a l in c o m e :
0.0
- 0 .5
-
P e r s o n a l c o n s u m p tio n e x p e n d itu r e s :
p P r e lim in a r y
r R e v is e d
C C A d j C a p ita l c o n s u m p tio n a d ju s tm e n t
IVA I n v e n to r y v a lu a tio n a d ju s tm e n t
1 . C o n s i s t s o f n o n m o r tg a g e i n te r e s t p a id b y h o u s e h o ld s .
0.6
0.1
2 . E q u a l s d i s p o s a b le p e r s o n a l in c o m e d e f la te d b y t h e im p licit p r ic e d e f la to r fo r p e r s o n a l c o n s u m p tio n e x p e n d itu r e s ,
3 . P o p u la tio n is t h e to ta l p o p u la tio n of th e U n ite d S t a t e s , in c lu d in g t h e A rm e d F o r c e s o v e r s e a s a n d th e in s titu tio n a liz e d
p o p u la tio n . T h e m o n th ly e s tim a te is t h e a v e r a g e o f e s t i m a t e s fo r t h e first o f t h e m o n th a n d th e first o f th e fo llow ing m o n th ;
t h e a n n u a l e s tim a te is th e a v e r a g e o f th e m o n th ly e s tim a te s .
S o u r c e : U .S . B u r e a u o f E c o n o m ic A n a ly s is .
D-47
c.
al Measures
Thi:
Maj
ind<
irived from the “Selected NIPA Tables” that are published in this issue and from the “GDP and Other
eries” tables that were published in the August 2006 issue. (The changes in prices are calculated from
sed to three decimal places.)
Table C.1. GDP and Other Major NIPA Aggregates— Continues
[Q u a r te rly e s tim a te s a r e s e a s o n a lly a d ju s te d a t a n n u a l r a te s ]
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s
Ye
P e r c e n t c h a n g e f ro m
C h a in -ty p e p ric e in d e x e s
I m p lic it p r i c e d e f l a t o r s
p r e c e d in g p e rio d
[ 2000= 100]
[ 2000= 100]
P e r c e n t c h a n g e fro m p r e c e d in g p e rio d
I m p lic it p r ic e d e f l a t o r s
C h a in - ty p e p r ic e in d e x
G ro ss
G ro ss
G ro ss
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
G ro ss
G ro ss
G ro s s
G ro ss
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
p ro d u ct
p u rch a ses
pro d u ct
p ro d u ct
G ro ss
F in a l s a l e s of
G ro ss
G ro ss
F in a l s a l e s o f
G ro ss
d o m e s tic
d o m e s tic
n a tio n a l
d o m e s tic
d o m e s tic
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
1959
2 ,4 4 1 .3
2 ,4 4 2 .7
2 ,4 5 7 .4
7 .1
6.2
2 0 .7 5 4
2 0 .3 6 5
2 0 .7 5 1
2 0 .7 2 7
1.2
1.2
1.2
1960
2 ,5 0 1 .8
2 ,5 0 6 .8
2 ,5 1 9 .4
2 .5
2.6
2 1 .0 4 4
2 0 .6 4 6
2 1 .0 4 1
2 1 .0 1 8
1 .4
1 .4
1 .4
1961
2 ,5 6 0 .0
2 ,5 6 6 .8
2 ,5 7 9 .3
2 .3
2 .4
2 1 .2 8 1
2 0 .8 6 5
2 1 .2 7 8
2 1 .2 5 5
1.1
1.1
1.1
1.1
1 .3
1 .4
1 .4
1.2
1.6
1.1
1.1
1 .5
1 .5
1 .7
1.8
2.8
2 .9
3 .1
3 .1
1962
2 ,7 1 5 .2
2 ,7 0 8 .5
2 ,7 3 6 .9
6.1
5 .5
2 1 .5 7 2
2 1 .5 6 9
2 1 .5 4 7
1 .4
1963
2 ,8 3 4 .0
2 ,8 3 0 .3
2 ,8 5 7 .2
4 .4
4 .5
2 1 .8 0 1
2 1 .3 8 5
2 1 .7 9 8
2 1 .7 7 7
1.1
1964
2 ,9 9 8 .6
2 ,9 9 9 .9
3 ,0 2 3 .6
5 .8
6.0
2 2 .1 3 4
2 1 .7 2 5
2 2 .1 3 1
22.111
1 .5
1965
3 ,1 9 1 .1
3 ,1 7 3 .8
3 ,2 1 7 .3
6 .4
5 .8
2 2 .5 3 8
22.102
2 2 .5 3 5
2 2 .5 1 6
1966
3 ,3 9 9 .1
3 ,3 6 4 .8
3 ,4 2 3 .7
6 .5
6.0
2 3 .1 8 0
2 2 .7 2 4
2 3 .1 7 6
2 3 .1 5 8
1.8
2.8
2.8
1967
3 ,4 8 4 .6
3 ,5 1 0 .1
2 .5
2 3 .8 9 3
2 1 .1 3 9
1.2
1 .4
1.8
2 3 .8 9 7
2 3 .3 8 9
2 3 .8 7 4
3 .1
2 .9
1968
3 ,6 5 2 .7
3 ,6 4 0 .3
3 ,6 8 0 .0
4 .8
5 .0
2 4 .9 1 6
2 4 .3 8 0
2 4 .9 1 3
2 4 .8 9 3
4 .3
4 .2
4 .3
4 .3
1969
3 ,7 6 5 .4
3 ,7 5 3 .7
3 ,7 9 2 .0
3 .1
3 .1
2 6 .1 5 3
2 5 .5 8 0
2 6 .1 4 9
2 6 .1 2 7
5 .0
4 .9
5 .0
5 .0
1970
3 ,7 7 1 .9
3 ,7 8 7 .7
3 ,7 9 8 .2
0.2
0 .9
2 7 .5 3 8
2 6 .9 6 4
2 7 .5 3 4
2 7 .5 1 2
5 .3
5 .4
5 .3
5 .3
1971
3 ,8 9 8 .6
3 ,8 9 3 .4
3 ,9 2 7 .8
3 .4
2.8
2 8 .9 1 6
2 8 .3 5 1
2 8 .9 1 1
2 8 .8 8 9
5 .0
5 .1
5 .0
5 .0
1972
4 ,1 0 5 .0
4 ,0 9 8 .6
4 ,1 3 6 .2
5 .3
5 .3
3 0 .1 7 1
2 9 .6 1 9
3 0 .1 6 6
3 0 .1 4 5
4 .3
4 .5
4 .3
4 .3
1973
4 ,3 4 1 .5
4 ,3 1 5 .9
4 ,3 8 3 .6
5 .8
5 .3
3 1 .8 5 4
3 1 .3 4 3
3 1 .8 4 9
3 1 .8 3 0
5 .6
5 .8
5 .6
5 .6
0.2
3 4 .7 2 1
3 4 .5 4 6
3 4 .7 2 5
3 4 .6 9 9
9 .0
10.2
9 .0
9 .0
0.2
1.1
3 8 .0 0 7
3 7 .7 6 1
3 8 .0 0 2
3 7 .9 7 6
9 .5
9 .3
9 .4
9 .4
5 .3
3 .9
4 0 .2 0 2
3 9 .9 3 8
4 0 .1 9 6
4 0 .1 7 5
5 .8
5 .8
5 .8
5 .8
4 2 .7 3 1
6 .4
6 .4
3 ,4 6 7 .6
1974
4 ,3 1 9 .6
4 ,3 0 5 .5
4 ,3 6 7 .5
- 0 .5
1975
4 ,3 1 1 .2
4 ,3 5 2 .5
4 ,3 4 8 .4
-
1976
4 ,5 4 0 .9
4 ,5 2 2 .3
4 ,5 8 5 .3
3 .1
-
4 ,7 5 0 .5
4 ,7 2 1 .6
4 2 .6 3 4
4 2 .7 5 2
6.8
6 .4
1978
5 ,0 1 5 .0
4 ,9 8 1 .6
5 ,0 6 4 .4
5 .6
5 .5
4 5 .7 6 2
4 5 .6 6 3
4 5 .7 5 7
4 5 .7 3 7
7 .0
7 .1
7 .0
7 .0
1979
5 ,1 7 3 .4
5 ,1 6 1 .2
5 ,2 4 0 .1
3 .2
3 .6
4 9 .5 5 3
4 9 .6 6 9
4 9 .5 4 8
4 9 .5 2 7
8 .3
8.8
8 .3
8 .3
1980
5 ,1 6 1 .7
5 ,1 9 6 .7
5 ,2 2 7 .6
0 .7
5 4 .0 6 2
5 4 .8 7 6
5 4 .0 4 3
5 4 .0 1 5
9 .1
1 0 .5
9 .1
9 .1
1981
5 ,2 9 1 .7
5 ,2 6 5 .1
5 ,3 4 9 .7
2 .5
1 .3
5 9 .1 2 8
5 9 .8 9 6
5 9 .1 1 9
5 9 .0 9 5
9 .4
9 .1
9 .4
9 .4
1982
5 ,1 8 9 .3
5 ,2 3 3 .4
5 ,2 4 9 .7
- 1 .9
0.6
6 2 .7 3 8
6 3 .2 9 6
6 2 .7 2 6
6 2 .6 9 9
6.1
5 .7
6.1
6.1
1977
4 .6
4 ,8 0 0 .3
-
4 .4
0.2
-
4 2 .7 5 8
1983
5 ,4 2 3 .8
5 ,4 5 4 .0
5 ,4 8 2 .5
4 .5
4 .2
6 5 .2 1 4
6 5 .5 1 5
6 5 .2 0 7
6 5 .1 8 4
3 .9
3 .5
4 .0
4 .0
1984
5 ,8 1 3 .6
5 ,7 3 9 .2
5 ,8 6 9 .3
7 .2
5 .2
6 7 .6 6 4
6 7 .8 2 2
6 7 .6 5 5
6 7 .6 3 1
3 .8
3 .5
3 .8
3 .8
1985
6 ,0 5 3 .7
6 ,0 4 2 .1
6 ,0 9 3 .4
4 .1
5 .3
6 9 .7 2 4
6 9 .7 6 0
6 9 .7 1 3
6 9 .6 9 5
3 .0
2 .9
3 .0
3 .1
1986
6 ,2 6 3 .6
6 ,2 7 1 .8
6 ,2 9 0 .6
3 .5
3 .8
7 1 .2 6 9
7 1 .3 3 8
7 1 .2 5 0
7 1 .2 2 7
2.2
2 .3
2.2
2.2
1987
6 ,4 7 5 .1
6 ,4 5 7 .2
6 ,5 0 0 .9
3 .4
3 .0
7 3 .2 0 4
7 3 .5 2 7
7 3 .1 9 6
7 3 .1 8 1
2 .7
3 .1
2 .7
2 .7
1988
6 ,7 4 2 .7
6 ,7 3 4 .5
6 ,7 7 5 .2
4 .1
4 .3
7 5 .7 0 6
7 6 .0 4 3
7 5 .6 9 4
7 5 .6 7 9
3 .4
3 .4
3 .4
3 .4
1989
6 ,9 8 1 .4
6 ,9 6 2 .2
7 ,0 1 5 .4
3 .5
3 .4
7 8 .5 6 9
7 8 .9 3 4
7 8 .5 5 6
7 8 .5 4 9
3 .8
3 .8
3 .8
3 .8
1990
7 ,1 1 2 .5
7 ,1 0 8 .5
7 ,1 5 5 .2
1 .9
8 1 .6 1 4
8 2 .1 4 4
8 1 .5 9 0
8 1 .5 8 9
3 .9
4 .1
3 .9
3 .9
1991
7 ,1 0 0 .5
7 ,1 1 5 .0
7 ,1 3 6 .8
0.2
2.1
0.1
8 4 .4 5 7
8 4 .8 3 6
8 4 .4 4 4
8 4 .4 4 0
3 .5
3 .3
3 .5
1992
7 ,3 3 6 .6
7 ,3 3 1 .1
7 ,3 7 1 .8
3 .3
3 .0
8 6 .4 0 2
8 6 .8 2 8
8 6 .3 8 5
8 6 .3 7 5
2 .3
2 .3
2 .3
2 .3
1993
7 ,5 3 2 .7
7 ,5 2 2 .3
7 ,5 6 8 .6
2 .7
2.6
8 8 .3 9 0
8 8 .7 3 0
8 8 .3 8 1
8 8 .3 8 2
2 .3
2 .3
2 .3
1994
7 ,8 3 5 .5
7 ,7 7 7 .8
7 ,8 6 4 .2
4 .0
3 .4
9 0 .2 6 5
9 0 .5 8 3
9 0 .2 5 9
9 0 .2 6 2
2.1
2.2
2.1
2.1
2.1
1995
8 ,0 3 1 .7
8, 010.2
8 ,0 6 9 .8
9 2 .1 0 6
9 3 .8 5 2
9 3 .8 6 3
1 .9
2.1
1.8
2.1
8 ,3 6 5 .3
9 2 .4 8 3
9 4 .1 4 5
2.0
8 ,3 0 6 .5
9 2 .1 1 5
9 3 .8 5 9
2.0
8 ,3 2 8 .9
3 .0
3 .7
9 2 .1 1 4
1996
2 .5
3 .7
8 ,7 0 3 .5
8 ,6 3 6 .6
8 ,7 3 7 .5
4 .5
4 .0
9 5 .4 1 5
9 5 .4 4 0
9 5 .4 1 4
9 5 .4 2 0
1 .7
1 .4
1 .9
1 .7
1 .9
1997
1.1
-
3 .5
1 .7
1998
9 ,0 6 6 .9
8 ,9 9 7 .6
9 ,0 8 8 .7
4 .2
4 .2
9 6 .4 7 5
9 6 .0 6 0
9 6 .4 7 2
9 6 .4 7 5
1.1
9 ,4 7 0 .3
9 ,4 0 4 .0
9 ,5 0 4 .7
4 .5
4 .5
9 7 .8 6 8
9 7 .5 5 6
9 7 .8 6 8
9 7 .8 6 9
1 .4
0.6
1.6
1.1
1999
1 .4
1 .4
2000
9 ,8 1 7 .0
9 ,7 6 0 .5
9 ,8 5 5 .9
3 .7
3 .8
100.000
100.000
100.000
100.000
2.2
2 .5
2.2
2.2
9 ,9 3 3 .6
1 0 1 .9 9 4
1 0 2 .3 9 9
1 0 2 .3 9 6
2 .4
2.0
1.6
2 .4
2 .4
1 .7
1 .7
2 .3
2.1
2.8
3 .0
9 ,8 9 0 .7
9 ,9 2 0 .9
1 0 ,0 4 8 .8
1 0 ,0 3 6 .5
1 0 ,0 7 9 .0
0.8
1.6
1.6
1.2
1 0 2 .4 0 2
2002
1 0 4 .1 9 3
1 0 3 .5 8 3
1 0 4 .1 8 7
1 0 4 .1 7 9
1 .7
2003
1 0 ,3 0 1 .0
1 0 ,2 8 5 .1
1 0 ,3 5 5 .3
2 .5
2 .5
1 0 6 .4 0 9
1 0 5 .9 6 6
1 0 6 .4 0 4
1 0 6 .3 9 6
2004
1 0 ,7 0 3 .5
1 0 ,6 4 8 .3
1 0 ,7 4 6 .8
3 .9
3 .5
1 0 9 .4 2 9
1 0 9 .2 1 0
1 0 9 .4 2 6
1 0 9 .4 1 6
2.1
2.8
3 .1
2.1
2.8
2005
1 1 .0 4 8 .6
1 1 ,0 2 5 .2
1 1 ,0 7 7 .9
3 .2
3 .5
1 1 2 .7 4 4
1 1 2 .9 8 1
1 1 2 .7 3 7
1 1 2 .7 2 6
3 .0
3 .5
3 .0
2006
1 1 .4 1 3 .6
1 1 ,3 6 5 .4
3 .3
3 .1
1 1 6 .0 6 1
1 1 6 .4 9 7
1 1 6 .0 4 2
2 .9
3 .1
2 .9
2001
D-48
National Data
March 2007
Table C.1. GDP and Other Major NIPA Aggregates— Continues
[Quarterly estimates are seasonally adjusted at annual rates]
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s
Y ear a n d q u a rte r
1959:
1960:
1961:
1962:
1963:
1964:
1965:
1966:
1967:
1968:
1969:
1970:
1971:
1972:
1973:
1974:
1975:
P e r c e n t c h a n g e f ro m
C h a in - ty p e p r ic e in d e x e s
I m p lic it p r i c e d e f l a t o r s
p r e c e d in g p e rio d
[ 2000= 100]
[ 2000= 100]
C h a i n - t y p e p r i c e in d e x
G ro s s
F in a l s a l e s of
G ro ss
G ro ss
F in a l s a l e s o f
G ro s s
d o m e s tic
d o m e s tic
n a tio n a l
d o m e s tic
d o m e s tic
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
G ro ss
G ro ss
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
G ro s s
G ro s s
G ro ss
G ro s s
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
2 ,3 9 2 .9
2 ,3 9 6 .9
2 ,4 0 8 .1
7 .9
8.1
2 0 .6 8 0
2 0 .2 9 6
2 0 .7 0 4
2 0 .6 8 0
I I ............................
2 ,4 5 5 .8
2 ,4 4 0 .3
2 ,4 7 1 .1
1 0 .9
7 .4
2 0 .7 1 1
2 0 .3 2 6
2 0 .7 0 4
2 0 .6 8 1
2 ,4 5 3 .9
2 ,4 7 1 .1
2 ,4 7 0 .3
- 0 .3
5 .1
2 0 .7 7 0
2 0 .3 7 9
2 0 .7 5 3
2 0 .7 3 0
IV ...........................
2 ,4 6 2 .6
2 ,4 6 2 .3
2 ,4 7 9 .8
1 .4
-1 .4
2 0 .8 5 3
2 0 .4 6 0
2 0 .8 4 0
2 0 .8 1 7
I ..............................
2 ,5 1 7 .4
2 ,4 8 8 .1
2 ,5 3 4 .1
9 .2
4 .3
2 0 .9 0 3
2 0 .5 0 5
2 0 .9 3 1
2 0 .9 0 9
I I ............................
2 ,5 0 4 .8
2 ,5 1 1 .5
3 .8
I l l ...........................
2 ,5 0 8 .7
2 ,5 0 7 .9
2 ,5 2 6 .5
IV ...........................
2 ,4 7 6 .2
2 ,5 1 9 .8
2 ,4 9 4 .9
2 ,5 2 1 .8
-
2.0
0.6
-
- 5 .1
I m p lic it p ric e d e f l a t o r s
G ro s s
I l l ...........................
I ..............................
P e r c e n t c h a n g e f ro m p r e c e d i n g p e r i o d
1.8
0.6
1.1
1.6
2.1
0.6
1.0
1.6
0 .9
0 .9
0.0
1.0
0.0
1.0
1 .7
1 .7
0 .9
1.8
1.8
2 0 .9 9 5
2 0 .5 9 8
2 1 .0 0 4
2 0 .9 8 2
1.0
1.8
1.8
1 .4
0.6
2 1 .0 9 3
2 0 .6 9 4
2 1 .0 8 4
2 1 .0 6 1
1 .9
1 .9
1 .5
1 .5
1 .9
2 1 .1 8 6
2 0 .7 8 7
2 1 .1 4 6
21.122
1.8
1.8
1.2
1.2
1 .4
2 ,4 9 1 .2
2 ,5 2 2 .0
2 ,5 1 0 .8
2 .4
0 .4
21.210
2 0 .8 0 7
2 1 .1 9 2
2 1 .1 6 9
0 .5
0 .4
0 .9
0 .9
I I ............................
2 ,5 3 8 .0
2 ,5 4 9 .1
2 ,5 5 6 .7
7 .7
4 .4
2 1 .2 4 9
2 0 .8 3 1
2 1 .2 3 7
2 1 .2 1 4
0 .7
0 .5
0 .9
0 .9
I l l ...........................
2 ,5 7 9 .1
2 ,5 6 8 .9
2 ,5 9 8 .3
6.6
3 .1
2 1 .3 0 5
2 0 .8 8 7
2 1 .3 0 3
2 1 .2 8 0
1.1
1.2
1 .3
IV ...........................
2 ,6 3 1 .8
2 ,6 2 7 .3
2 ,6 5 1 .4
8 .4
9 .4
2 1 .3 6 0
2 0 .9 3 3
2 1 .3 7 5
2 1 .3 5 2
1.1
1.0
0 .9
1 .4
1 .4
I ..............................
2 ,6 7 9 .1
2 ,6 5 9 .5
2 ,6 9 8 .6
7 .4
5 .0
2 1 .4 8 2
2 1 .0 4 1
2 1 .5 0 1
2 1 .4 7 9
2 .3
2.1
2 .4
2 .4
0.6
1.0
I ..............................
I I ............................
2 ,7 0 8 .4
2 ,7 0 4 .5
2 ,7 2 9 .7
4 .4
6 .9
2 1 .5 3 8
2 1 .1 0 9
2 1 .5 3 3
2 1 .5 1 1
2 ,7 3 3 .3
2 ,7 2 5 .6
2 ,7 5 4 .8
3 .7
3 .2
2 1 .5 9 6
2 1 .1 6 3
2 1 .5 8 5
2 1 .5 6 4
1.0
1.1
1 .3
I l l ...........................
1.0
0.6
1.0
IV ...........................
2 ,7 4 0 .0
2 ,7 4 4 .5
2 ,7 6 4 .5
1.0
2.8
2 1 .6 7 1
2 1 .2 4 1
2 1 .6 5 3
2 1 .6 3 2
1 .4
1 .5
1 .3
1 .3
I ..............................
2 ,7 7 5 .9
2 ,7 6 2 .8
2 ,7 9 9 .4
5 .3
2 .7
2 1 .7 3 2
2 1 .3 0 8
2 1 .7 0 2
2 1 .6 8 1
1.1
1 .3
0 .9
0 .9
I I ............................
2 ,8 1 0 .6
2 ,8 0 9 .7
2 ,8 3 3 .3
5 .1
7 .0
2 1 .7 5 4
2 1 .3 3 5
2 1 .7 4 5
2 1 .7 2 4
0 .4
0 .5
I l l ...........................
2 ,8 6 3 .5
2 ,8 5 9 .4
2, 886.6
7 .7
7 .3
2 1 .7 9 4
2 1 .3 8 2
2 1 .7 8 8
2 1 .7 6 8
0 .7
0 .9
0.8
0.8
0.8
0.8
IV ...........................
2 ,8 8 5 .8
2 ,8 8 9 .5
2 ,9 0 9 .6
3 .1
4 .3
2 1 .9 2 3
2 1 .5 1 4
2 1 .9 5 1
2 1 .9 3 0
2 .4
2 .5
3 .0
3 .0
I ..............................
2 ,9 5 0 .5
2 ,9 5 2 .7
2 ,9 7 6 .3
9 .3
9 .0
22.001
2 1 .5 9 6
2 2 .0 1 6
2 1 .9 9 5
1 .4
1 .5
I I ............................
2 ,9 8 4 .8
2 ,9 8 8 .1
3 ,0 0 9 .6
4 .7
4 .9
2 2 .0 7 3
2 1 .6 7 4
2 2 .0 7 3
2 2 .0 5 3
1 .3
1 .5
I l l ...........................
3 ,0 2 5 .5
3 ,0 2 5 .4
3 ,0 5 1 .1
5 .6
5 .1
2 2 .1 8 0
2 1 .7 6 9
2 2 .1 6 0
2 2 .1 4 0
2.0
1.8
IV ...........................
3 ,0 3 3 .6
3 ,0 3 3 .2
3 ,0 5 7 .5
1.1
1.0
2 2 .2 8 2
2 1 .8 6 0
2 2 .2 7 0
2 2 .2 5 0
1 .9
1 .7
1.2
1.0
1.6
2.0
1.2
1.1
1.6
2.0
I ..............................
3 ,1 0 8 .2
3 ,0 8 1 .0
3 ,1 3 5 .2
10.2
6 .5
2 2 .3 8 0
2 1 .9 4 0
2 2 .3 8 3
2 2 .3 6 3
1 .5
2.0
2.0
1.8
1 .7
1 .9
1 .5
1 .5
2.8
2.6
2.6
I I ............................
3 ,1 5 0 .2
3 ,1 3 6 .6
3 ,1 7 8 .0
5 .5
7 .4
2 2 .4 7 9
2 2 .0 3 7
2 2 .4 8 0
2 2 .4 6 0
I l l ...........................
3 ,2 1 4 .1
3 ,1 9 5 .5
3 ,2 4 0 .0
8 .4
7 .7
2 2 .5 7 8
2 2 .1 4 0
2 2 .5 6 3
2 2 .5 4 4
1.8
1.8
1.8
IV ...........................
3 ,2 9 1 .8
3 ,2 8 2 .4
3 ,3 1 5 .7
10.0
1 1 .3
2 2 .7 1 7
2 2 .2 9 2
2 2 .7 0 7
22.688
2 .5
1..............................
3 ,3 7 2 .3
3 ,3 3 7 .0
3 ,3 9 6 .9
10.1
6.8
2 2 .8 5 7
2 2 .8 5 5
2 2 .8 3 7
I I .............................
3 ,3 8 4 .0
3 ,3 5 2 .4
3 ,4 0 8 .7
1 .4
1 .9
2 3 .0 7 1
2 2 .6 2 9
2 3 .0 4 8
2 3 .0 2 9
3 .8
3 .9
3 .4
3 .4
I l l ...........................
3 ,4 0 6 .3
3 ,3 8 0 .2
3 ,4 3 0 .4
2 .7
3 .4
2 3 .2 9 3
2 2 .8 3 1
2 3 .2 9 1
2 3 .2 7 2
3 .9
3 .6
4 .3
4 .3
IV ...........................
3 ,4 3 3 .7
3 ,3 8 9 .6
3 ,4 5 8 .9
3 .3
1.1
2 3 .4 9 8
2 3 .0 1 8
2 3 .5 0 5
2 3 .4 8 6
3 .6
3 .3
3 .7
3 .7
1..............................
1) ............................
3 ,4 6 4 .1
3 ,4 2 4 .2
3 ,4 8 9 .0
3 .6
4 .1
2 3 .6 1 1
2 3 .1 0 9
2 3 .6 1 2
2 3 .5 9 3
1 .9
1.6
3 ,4 6 4 .3
3 ,4 6 0 .2
3 ,4 8 8 .5
0.0
4 .3
2 3 .7 5 9
2 3 .2 5 4
2 3 .7 4 1
2 3 .7 2 2
2 .5
2 .5
1.8
2.2
1.8
2.2
I l l ...........................
3 ,4 9 1 .8
3 ,4 7 7 .8
3 ,5 1 8 .5
3 .2
2.0
2 3 .9 7 7
2 3 .4 6 9
2 3 .9 7 5
2 3 .9 5 5
3 .7
3 .7
4 .0
4 .0
I V ...........................
3 ,5 1 8 .2
3 ,5 0 8 .2
3 ,5 4 4 .1
3 .1
3 .5
2 4 .2 4 2
2 3 .7 2 3
2 4 .2 4 1
2 4 .2 2 1
4 .5
4 .4
4 .5
4 .5
1..............................
3 ,5 9 0 .7
3 ,5 8 1 .7
3 ,6 1 7 .2
8 .5
8.6
2 4 .5 0 3
2 3 .9 7 9
2 4 .5 0 6
2 4 .4 8 7
4 .4
4 .4
4 .4
4 .5
I I ............................
3 ,6 5 1 .6
3 ,6 1 7 .7
3 ,6 7 8 .7
7 .0
4 .1
2 4 .7 7 7
2 4 .2 3 0
2 4 .7 6 3
2 4 .7 4 3
4 .5
4 .3
4 .3
4 .2
4 .0
2 2 .4 1 6
2 .5
2.2
2.6
1 .7
2 .7
I l l ...........................
3 ,6 7 6 .5
3 ,6 6 9 .4
3 ,7 0 4 .4
2 .7
5 .8
2 5 .0 1 7
2 4 .4 8 3
2 5 .0 0 8
2 4 .9 8 8
3 .9
4 .2
4 .0
I V ...........................
3 ,6 9 2 .0
3 ,6 9 2 .2
3 ,7 1 9 .6
1 .7
2 .5
2 5 .3 6 7
2 4 .8 2 6
2 5 .3 6 2
2 5 .3 4 2
5 .7
5 .7
5 .8
5 .8
1..............................
3 ,7 5 0 .2
3 ,7 7 8 .0
3 ,7 8 7 .7
6 .5
4 .2
2 5 .6 2 2
2 5 .0 6 2
2 5 .6 2 6
4 .1
3 .9
4 .2
4 .2
1.1
2 5 .6 0 5
2 5 .9 3 7
3 ,7 6 0 .9
3 ,7 3 0 .5
3 ,7 4 8 .6
2 5 .4 0 2
2 5 .9 5 8
5 .5
5 .5
5 .3
5 .3
3 ,7 8 4 .2
3 ,7 6 7 .6
3 ,8 1 0 .0
2 .5
2 6 .3 4 5
2 5 .7 6 4
2 6 .3 3 2
2 6 .3 1 0
6.0
5 .9
3 ,7 6 8 .1
3 ,7 9 2 .1
- 1 .9
2 6 .6 7 8
2 6 .0 9 3
2 6 .6 7 5
2 6 .6 5 2
5 .2
5 .8
5 .2
5 .9
3 ,7 6 6 .3
2.0
2.0
0.1
2 5 .9 6 6
I l l ...........................
IV ...........................
5 .3
5 .3
1..............................
3 ,7 6 0 .0
3 ,7 7 8 .0
3 ,7 8 6 .3
- 0 .7
1.1
2 7 .0 5 1
2 6 .4 7 4
2 7 .0 5 6
2 7 .0 3 4
5 .7
6.0
5 .8
5 .9
I I ............................
I I ............................
3 ,7 6 7 .1
3 ,7 7 1 .0
3 ,7 9 4 .3
0.8
I l l ...........................
3 ,8 0 0 .5
3 ,8 0 4 .6
3 ,8 2 7 .4
3 .6
IV ...........................
3 ,7 5 9 .8
3 ,7 9 7 .2
3 ,7 8 4 .5
- 4 .2
1..............................
3 ,8 6 4 .1
3 ,8 4 4 .7
3 ,8 9 3 .1
11.6
- 0 .7
2 7 .4 3 7
2 6 .8 4 1
2 7 .4 2 8
2 7 .4 0 6
5 .8
5 .7
5 .6
5 .6
3 .6
2 7 .6 5 5
2 7 .0 9 3
2 7 .6 4 7
2 7 .6 2 4
3 .2
3 .8
3 .2
3 .2
0.8
2 8 .0 0 9
2 7 .4 4 9
2 8 .0 0 4
2 7 .9 8 2
5 .2
5 .4
5 .3
5 .3
5 .1
2 8 .4 2 9
2 7 .8 5 4
2 8 .4 2 5
2 8 .4 0 3
6.1
6.0
6.2
6.2
2 8 .8 0 9
2 8 .2 3 0
2 8 .7 9 8
2 8 .7 7 7
5 .5
5 .5
5 .4
5 .4
-
I I ............................
3 ,8 8 5 .9
3 ,8 7 1 .3
3 ,9 1 6 .4
2 .3
2.8
I l l ...........................
3 ,9 1 6 .7
3 ,9 0 5 .2
3 ,9 4 4 .4
3 .2
3 .5
2 9 .0 9 7
2 8 .5 3 9
2 9 .0 8 9
2 9 .0 6 9
4 .1
4 .5
4 .1
4 .1
I V ...........................
3 ,9 2 7 .9
3 ,9 5 2 .5
3 ,9 5 7 .1
1.1
4 .9
2 9 .3 2 9
2 8 .7 7 9
2 9 .3 2 2
2 9 .3 0 0
3 .2
3 .4
3 .2
3 .2
1..............................
3 ,9 9 7 .7
4 ,0 0 6 .9
4 ,0 2 8 .1
7 .3
5 .6
2 9 .8 1 4
2 9 .2 3 4
2 9 .7 8 1
2 9 .7 5 9
6.8
6 .5
6 .4
6 .4
I I ............................
4 ,0 9 2 .1
4 ,0 7 3 .0
4 ,1 2 2 .1
9 .8
6.8
2 9 .9 8 9
2 9 .4 3 7
2 9 .9 5 9
2 9 .9 3 7
2 .4
2.8
2 .4
2 .4
I l l ...........................
4 ,1 3 1 .1
4 ,1 0 9 .6
4 ,1 6 3 .5
3 .9
3 .6
3 0 .2 6 4
2 9 .7 2 8
3 0 .2 5 0
3 0 .2 2 9
3 .7
4 .0
3 .9
4 .0
IV ...........................
4 ,1 9 8 .7
4 ,2 0 4 .8
4 ,2 3 1 .0
6 .7
9 .6
3 0 .6 2 0
3 0 .0 7 8
3 0 .6 5 2
3 0 .6 3 1
4 .8
4 .8
5 .4
5 .4
1..............................
4 ,3 0 5 .3
4 ,2 9 6 .4
4 ,3 4 2 .5
10.6
9 .0
3 1 .0 2 5
3 0 .4 7 8
3 1 .0 2 0
3 1 .0 0 0
5 .4
5 .4
4 .9
4 .9
4 .7
2.0
3 1 .5 4 2
3 1 .0 5 2
3 1 .5 0 0
3 1 .4 8 1
6.8
7 .7
6 .3
6 .4
2.1
0 .5
3 2 .1 4 7
3 1 .6 2 5
3 2 .1 1 4
3 2 .0 9 5
7 .9
7 .6
7 .1
7 .7
8.0
8.2
8.0
8.2
I I ............................
4 ,3 5 5 .1
4 ,3 1 7 .4
4 ,3 9 4 .6
I l l ...........................
4 ,3 3 1 .9
4 ,3 2 2 .6
4 ,3 7 7 .8
IV ...........................
4 ,3 7 3 .3
4 ,3 2 7 .3
4 ,4 1 9 .5
3 .9
0 .4
3 2 .7 0 3
3 2 .2 1 8
3 2 .7 5 0
3 2 .7 3 1
- 3 .4
-0 .4
3 3 .3 7 1
3 3 .0 6 8
3 3 .3 7 6
3 3 .3 5 4
8 .4
11.0
3 4 .1 1 0
3 4 .0 0 7
3 4 .1 6 2
3 4 .1 3 7
9 .2
1 1 .9
3 5 .1 6 4
3 5 .0 4 5
3 5 .1 6 6
3 5 .1 4 1
1 2 .9
- 5 .6
3 6 .2 4 0
3 6 .0 6 2
3 6 .2 1 8
3 6 .1 8 8
12.8
12.8
12.1
-
1..............................
4 ,3 3 5 .4
4 ,3 2 2 .7
4 ,3 8 9 .4
I I ............................
4 ,3 4 7 .9
4 ,3 2 8 .7
4 ,3 9 9 .1
I l l ...........................
4 ,3 0 5 .8
4 ,3 1 6 .3
4 ,3 5 2 .4
- 3 .8
IV ...........................
4 ,2 8 8 .9
4 ,2 5 4 .5
4 ,3 2 9 .3
-
1.2
1.6
-
0.6
1.1
7 .9
7 .8
9 .8
9 .7
1 2 .3
1 2 .3
1 2 .5
1 2 .5
1..............................
4 ,2 3 7 .6
4 ,2 8 7 .8
4 ,2 7 1 .5
-4.7
3 .2
3 7 .0 7 7
3 6 .8 4 9
3 7 .0 5 0
3 7 .0 2 2
9 .6
9 .0
9 .5
I I ............................
4 ,2 6 8 .6
4 ,3 3 1 .0
4 ,3 0 2 .8
3 .0
4 .1
3 7 .6 2 2
3 7 .4 1 2
3 7 .6 1 4
3 7 .5 8 6
6.0
6 .3
6.2
6.2
I l l ...........................
4 ,3 4 0 .9
4 ,3 7 0 .1
4 ,3 7 7 .7
6 .9
3 .7
3 8 .3 2 4
3 8 .0 6 0
3 8 .3 1 3
3 8 .2 8 8
7 .7
7 .1
7 .6
7 .7
IV ...........................
4 ,3 9 7 .8
4 ,4 2 1 .1
4 ,4 4 1 .7
5 .4
4 .8
3 9 .0 0 5
3 8 .7 2 4
3 8 .9 8 7
3 8 .9 6 1
7 .3
7 .2
7 .2
7 .2
9 .5
March 2007
Survey
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
[Q u a r te r ly e s t i m a t e s a r e s e a s o n a l l y a d ju s te d a t a n n u a l r a te s ]
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s
Y ear a n d q u a rte r
1976:
1977:
1978:
1979:
1980:
1981:
1982:
1983:
1984:
1985:
1986:
1987:
1988:
1989:
1990:
1991:
P e r c e n t c h a n g e f ro m
C h a in -ty p e p ric e in d e x e s
I m p lic it p r i c e d e f l a t o r s
p r e c e d in g p e rio d
[ 2000= 100]
[ 2000= 100]
P e r c e n t c h a n g e fro m p r e c e d in g p e rio d
Im p lic it p r i c e d e f l a t o r s
C h a i n - t y p e p r i c e in d e x
G ro s s
G ro s s
G ro s s
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
G ro s s
G ro s s
G ro s s
G ro ss
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
G ro s s
F in a l s a l e s of
G ro ss
G ro s s
F in a l s a l e s o f
G ro s s
d o m e s tic
d o m e s tic
n a tio n a l
d o m e s tic
d o m e s tic
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
I ..............................
4 ,4 9 6 .8
4 .4 8 2 .1
4 ,5 3 9 .3
9 .3
5 .6
3 9 .4 4 3
3 9 .1 6 3
3 9 .4 1 8
3 9 .3 9 6
4 .6
4 .5
I I ............................
4 ,5 3 0 .3
4 ,4 9 6 .3
4 ,5 7 4 .6
3 .0
1 .3
3 9 .8 6 6
3 9 .5 9 5
3 9 .8 4 0
3 9 .8 1 8
4 .4
4 .5
4 .4
4 .4
I l l ...........................
4 ,5 5 2 .0
4 ,5 2 3 .7
4 ,5 9 6 .7
1 .9
2 .5
4 0 .4 0 5
4 0 .1 6 8
4 0 .3 8 5
4 0 .3 6 5
5 .5
5 .9
5 .6
5 .6
4 .6
4 .5
IV ...........................
4 ,5 8 4 .6
4 .5 8 7 .1
4 ,6 3 0 .4
2 .9
5 .7
4 1 .0 9 6
4 0 .8 2 8
4 1 .1 2 2
4 1 .1 0 1
7 .0
6 .7
7 .5
7 .5
I ..............................
4 ,6 4 0 .0
4 ,6 3 1 .5
4 .6 9 2 .2
4 .9
3 .9
4 1 .7 8 1
4 1 .5 9 1
4 1 .7 9 6
4 1 .7 7 3
7 .7
6 .7
6 .7
I I
II I
4 ,7 3 1 .1
4 ,7 0 5 .5
4 .7 8 2 .3
8.1
6 .5
4 2 .4 5 2
4 2 .3 0 6
4 2 .4 0 1
4 2 .3 8 1
6.8
6.6
7 .1
5 .9
6.0
4 ,8 1 5 .8
4 ,7 5 5 .2
4 .8 6 6 .4
7 .4
4 .3
4 3 .0 3 6
4 2 .9 5 0
4 2 .9 1 7
4 2 .8 9 9
5 .6
6.2
5 .0
5 .0
IV ...........................
4 ,8 1 5 .3
4 ,7 9 4 .1
4 ,8 6 0 .4
0.0
3 .3
4 3 .7 6 2
4 3 .6 8 8
4 3 .8 5 2
4 3 .8 3 1
6 .9
7 .1
9 .0
9 .0
I ..............................
4 ,8 3 0 .8
4 ,7 9 9 .5
4 .8 8 2 .9
1 .3
0 .5
4 4 .4 9 3
4 4 .4 1 0
4 4 .5 0 5
4 4 .4 8 3
6 .9
6.8
6.1
6.1
I I ............................
5 ,0 2 1 .2
4 ,9 8 9 .9
5 ,0 6 4 .7
1 6 .7
1 6 .8
4 5 .3 5 0
4 5 .2 6 6
4 5 .3 2 1
4 5 .3 0 1
7 .9
7 .9
7 .5
7 .6
7 .1
6.8
6.8
8 .7
I l l ...........................
5 ,0 7 0 .7
5 ,0 3 6 .0
5 ,1 1 8 .2
4 .0
3 .7
4 6 .1 3 3
4 6 .0 4 8
4 6 .0 7 2
4 6 .0 5 2
7 .1
IV ...........................
5 ,1 3 7 .4
5 ,1 0 0 .6
5 .1 9 1 .9
5 .4
5 .2
4 7 .0 7 4
4 6 .9 2 8
4 7 .0 4 7
4 7 .0 2 7
8 .4
7 .9
8 .7
I ..............................
5 ,1 4 7 .4
5 .1 1 7 .8
5 ,2 0 3 .1
0.8
1 .4
4 7 .9 2 9
4 7 .8 2 8
4 7 .8 7 6
4 7 .8 5 7
7 .5
7 .9
7 .2
7 .2
I I
II I
5 .1 5 2 .3
5 .1 1 7 .9
5 ,2 1 4 .9
0 .4
0.0
4 9 .0 9 2
4 9 .0 4 4
4 9 .0 5 8
4 9 .0 3 4
10.1
10.6
10.2
10.2
5 .1 8 9 .4
5 ,1 9 2 .3
5 ,2 6 3 .8
2 .9
5 .9
5 0 .1 0 2
5 0 .2 8 9
5 0 .1 1 5
5 0 .0 9 3
8 .5
1 0 .5
8 .9
8 .9
IV ...........................
5 ,2 0 4 .7
5 ,2 1 6 .9
5 ,2 7 8 .6
1.2
1 .9
5 1 .0 8 8
5 1 .5 1 5
5 1 .1 1 7
5 1 .0 9 3
8.1
10.1
8.2
8.2
I ..............................
5 .2 2 1 .3
5 ,2 2 7 .3
5 ,2 9 6 .5
1 .3
0.8
5 2 .2 0 9
5 2 .9 3 0
5 2 .1 9 5
5 2 .1 7 2
9 .1
1 1 .4
8 .7
8 .7
I I
5 ,1 1 5 .9
5 ,1 2 6 .2
5 .1 8 5 .5
- 7 .8
-7 .5
5 3 .3 6 2
5 4 .2 2 0
5 3 .3 4 9
5 3 .3 2 4
9 .1
10.1
9 .1
II I
5 .1 0 7 .4
5 ,1 9 3 .5
5 ,1 7 3 .0
- 0 .7
5 .4
5 4 .5 7 2
5 5 .4 4 6
5 4 .5 6 0
5 4 .5 3 4
9 .4
9 .4
9 .4
9 .4
5 6 .9 0 7
5 6 .0 7 1
5 6 .0 4 3
1 1 .7
11.0
1 1 .5
1 1 .5
1 0 .9
1 0 .7
10.8
7 .3
7 .7
IV ...........................
5 ,2 0 2 .1
5 ,2 3 9 .7
5 .2 5 5 .6
3 .6
7 .6
5 6 .1 0 5
9 .1
1 .7
5 7 .5 6 6
5 8 .3 9 7
5 7 .5 1 7
5 7 .4 9 2
10.8
0.8
5 8 .5 8 2
5 9 .4 3 4
5 8 .5 9 8
5 8 .5 7 1
7 .2
4 .9
0 .4
5 9 .6 6 1
6 0 .3 5 5
5 9 .6 4 1
5 9 .6 1 6
7 .6
6 .3
7 .3
7 .3
- 4 .9
-2 .3
6 0 .7 0 4
6 1 .4 0 0
6 0 .7 2 9
6 0 .7 0 6
7 .2
7 .1
7 .5
7 .5
I ..............................
5 ,3 0 7 .5
5 .2 6 1 .7
5 ,3 6 4 .5
8 .4
I I
II I
5 ,2 6 6 .1
5 .2 7 2 .8
5 .3 1 9 .8
- 3 .1
5 ,3 2 9 .8
5 ,2 7 8 .5
5 .3 8 6 .8
IV ...........................
5 ,2 6 3 .4
5 ,2 4 7 .4
5 ,3 2 7 .3
- 6 .4
-
7 .7
IV ..........................
5 ,1 8 9 .8
5 ,2 7 3 .3
5 ,2 4 5 .3
0 .4
1.1
0.2
2.6
6.0
6 3 .8 6 6
6 4 .3 7 2
6 3 .8 6 3
6 3 .8 3 7
4 .3
4 .2
4 .4
4 .4
I ..............................
5 ,2 5 3 .8
5 ,3 2 9 .2
5 .3 0 8 .8
5 .0
4 .3
6 4 .4 1 3
6 4 .7 6 8
6 4 .3 8 8
6 4 .3 6 3
3 .5
2 .5
3 .3
3 .3
I I ............................
5 .3 7 2 .3
5 ,4 0 4 .6
5 .4 3 0 .9
9 .3
5 .8
6 4 .8 8 1
6 5 .2 1 3
6 4 .8 5 3
6 4 .8 3 1
2 .9
2.8
2 .9
2 .9
I l l ...........................
5 .4 7 8 .4
5 ,5 0 5 .1
5 ,5 3 8 .0
8.1
7 .7
6 5 .5 4 2
6 5 .8 4 9
6 5 .5 1 7
6 5 .4 9 5
4 .1
4 .0
4 .2
4 .2
IV ..........................
5 ,5 9 0 .5
5 ,5 7 7 .0
5 ,6 5 2 .4
8 .4
5 .3
66.020
6 6 .2 3 1
66.012
6 5 .9 9 1
2 .9
2 .3
3 .1
3 .1
I ..............................
5 .6 9 9 .8
5 .6 1 4 .4
5 ,7 5 7 .1
8.1
2 .7
6 6 .8 3 8
6 7 .0 5 2
6 6 .8 3 7
6 6 .8 1 5
5 .0
5 .1
5 .1
5 .1
I I ............................
5 .7 9 7 .9
5 .7 1 7 .5
5 ,8 5 5 .5
7 .1
7 .5
6 7 .4 3 9
6 7 .6 4 7
6 7 .4 1 4
6 7 .3 9 2
3 .6
3 .6
3 .5
I l l ..........................
5 .8 5 4 .3
5 ,7 7 0 .2
5 ,9 1 1 .3
3 .9
3 .7
6 7 .9 8 9
6 8 .1 1 4
6 7 .9 5 3
6 7 .9 3 0
3 .3
2.8
2.1
3 .2
3 .2
2.6
2.6
I ..............................
5 ,1 7 7 .1
5 ,2 3 2 .9
5 ,2 3 7 .7
I I ............................
5 ,2 0 4 .9
5 .2 3 0 .5
5 ,2 7 2 .8
I l l ..........................
5 ,1 8 5 .2
5 .1 9 6 .6
5 ,2 4 2 .9
2.2
- 1 .5
-
6 1 .5 6 3
6 2 .2 1 3
6 1 .5 5 5
6 1 .5 3 0
5 .8
5 .4
5 .6
5 .5
6 2 .3 3 0
6 2 .8 8 3
6 2 .3 0 2
6 2 .2 7 6
5 .1
4 .4
4 .9
4 .9
6 3 .1 9 3
6 3 .7 1 7
6 3 .1 8 2
6 3 .1 5 5
5 .7
5 .4
5 .8
5 .8
IV ..........................
5 .9 0 2 .4
5 ,8 5 4 .6
5 ,9 5 3 .2
3 .3
6.0
6 8 .3 9 2
6 8 .4 7 6
6 8 .3 8 5
6 8 .3 5 9
2 .4
3 .5
I ..............................
5 ,9 5 6 .9
5 ,9 5 3 .0
5 .9 9 7 .4
3 .8
6 .9
6 9 .1 8 0
6 9 .1 3 7
6 9 .1 5 5
6 9 .1 2 7
4 .7
3 .9
4 .6
4 .6
I I ............................
6 ,0 0 7 .8
5 ,9 9 8 .5
6 ,0 5 0 .8
3 .5
3 .1
6 9 .5 4 2
6 9 .5 3 7
6 9 .5 5 0
6 9 .5 2 9
2.1
2 .3
2 .3
2 .3
I l l ..........................
6 ,1 0 1 .7
6 ,0 9 5 .8
6 .1 3 7 .4
6 .4
6.6
6 9 .8 7 6
6 9 .9 0 7
6 9 .8 3 8
6 9 .8 2 7
1 .9
2.1
1 .7
1 .7
IV ..........................
6 ,1 4 8 .6
6, 121.2
6 ,1 8 8 .2
3 .1
1 .7
7 0 .2 9 9
7 0 .4 5 9
7 0 .2 8 9
7 0 .2 7 6
2 .4
3 .2
2.6
2.6
I ..............................
6 .2 0 7 .4
6 ,1 8 4 .1
6 ,2 4 2 .5
3 .9
4 .2
7 0 .6 6 0
7 0 .8 5 1
7 0 .6 5 2
7 0 .6 3 5
2.1
I I
6 ,2 3 2 .0
6 ,2 3 0 .5
6 ,2 5 7 .3
1.6
3 .0
7 1 .0 0 1
7 0 .9 8 5
7 1 .0 1 5
7 0 .9 9 3
1 .9
2.2
0.8
2.1
2.1
2.1
2.0
II I
6 ,2 9 1 .7
6 ,3 1 7 .8
6 ,3 2 0 .1
3 .9
5 .7
7 1 .4 5 5
7 1 .4 9 3
7 1 .4 2 6
7 1 .4 0 1
2.6
2 .9
2 .3
2 .3
IV ...........................
6 .3 2 3 .4
6 ,3 5 5 .0
6 ,3 4 2 .8
2.0
2 .4
7 1 .9 6 0
7 2 .0 2 5
7 1 .8 9 3
7 1 .8 6 6
2 .9
3 .0
2.6
2.6
I ..............................
7 2 .4 6 5
3 .1
4 .0
6 .3 6 5 .0
6 .3 4 4 .4
6 ,3 8 6 .8
2 .7
- 0 .7
7 2 .5 1 4
7 2 .7 2 8
7 2 .4 8 7
3 .3
3 .4
I I ............................
6 .4 3 5 .0
6 .4 3 1 .4
6 ,4 6 1 .8
4 .5
5 .6
7 2 .9 0 4
7 3 .2 2 9
7 2 .8 8 2
7 2 .8 7 0
2.2
2.8
2.2
2 .3
I l l ..........................
6 ,4 9 3 .4
6 ,5 1 0 .8
6 ,5 1 9 .5
3 .7
5 .0
7 3 .4 5 0
7 3 .4 2 5
3 .0
6 .5 4 2 .5
6 ,6 3 5 .4
7 .2
2.0
7 3 .9 4 8
7 3 .9 5 8
3 .0
2 .7
3 .0
6 ,6 0 6 .8
7 3 .4 1 2
7 3 .9 4 4
3 .3
IV ...........................
7 3 .8 1 9
7 4 .3 3 2
2.8
2 .9
2 .9
I ..............................
6 ,6 3 9 .1
6 ,6 3 7 .2
6 ,6 7 5 .0
2.0
5 .9
7 4 .5 6 4
7 4 .9 7 5
7 4 .5 8 7
7 4 .5 7 1
3 .4
3 .5
3 .4
3 .4
I I ............................
6 ,7 2 3 .5
6 ,7 1 6 .4
6 ,7 5 6 .2
5 .2
4 .9
7 5 .2 9 6
7 5 .7 0 6
7 5 .3 0 0
7 5 .2 8 5
4 .0
4 .0
3 .9
3 .9
I l l ...........................
6 ,7 5 9 .4
6 ,7 4 9 .5
6 ,7 8 8 .9
2.1
2.0
7 6 .1 7 8
7 6 .4 0 6
7 6 .1 4 1
7 6 .1 2 4
4 .8
3 .8
4 .5
4 .5
IV ...........................
6 ,8 4 8 .6
6 ,8 3 5 .1
6 ,8 8 0 .9
5 .4
5 .2
7 6 .7 8 6
7 7 .0 8 6
7 6 .7 1 2
7 6 .7 0 0
3 .2
3 .6
3 .0
3 .1
I ..............................
6 .9 1 8 .1
6 ,8 7 3 .3
6 ,9 5 0 .1
4 .1
2 .3
7 7 .5 8 8
7 7 .9 3 7
7 7 .5 8 0
7 7 .5 6 6
4 .2
4 .5
4 .6
4 .6
I I ............................
6 ,9 6 3 .5
6 ,9 3 3 .6
6 ,9 9 3 .9
2.6
3 .6
7 8 .3 4 2
7 8 .7 6 4
7 8 .3 2 4
7 8 .3 1 6
3 .9
4 .3
3 .9
3 .9
I l l ..........................
7 .0 1 3 .1
7 ,0 1 5 .3
7 ,0 4 6 .2
2 .9
4 .8
7 8 .9 1 3
7 9 .2 2 7
7 8 .8 7 9
7 8 .8 7 5
2 .9
2 .4
2 .9
2 .9
IV ..........................
7 ,0 3 0 .9
7 ,0 2 6 .8
7 ,0 7 1 .4
1.0
0 .7
7 9 .4 3 3
7 9 .8 0 7
7 9 .4 2 5
7 9 .4 2 2
2 .7
3 .0
2.8
2.8
1..............................
7 ,1 1 2 .1
7 ,1 1 0 .6
7 ,1 5 0 .0
4 .7
4 .9
8 0 .3 8 9
8 0 .8 7 8
8 0 .3 7 5
8 0 .3 7 6
4 .9
5 .5
4 .9
4 .9
I I ............................
7 ,1 3 0 .3
7 ,1 0 3 .8
- 0 .4
8 1 .3 2 6
8 1 .6 2 9
8 1 .3 1 1
8 1 .3 0 1
4 .7
3 .8
4 .7
4 .7
I l l ...........................
7 .1 3 0 .8
7 .1 1 8 .3
7 .1 6 3 .9
8 2 .0 5 3
8 2 .5 3 1
8 2 .0 3 1
8 2 .0 2 8
3 .6
4 .5
3 .6
3 .6
IV ..........................
7 .0 7 6 .9
7 .1 0 1 .3
7 ,1 3 7 .1
- 3 .0
8 2 .6 8 9
8 3 .5 3 6
8 2 .6 4 6
8 2 .6 5 2
3 .1
5 .0
3 .0
3 .1
1.............................
7 ,0 4 0 .8
7 .0 7 1 .5
7 ,0 8 7 .0
-
8 3 .6 6 2
8 4 .1 9 7
8 3 .6 2 6
8 3 .6 2 3
4 .8
3 .2
4 .8
4 .8
I I
7 ,0 8 6 .5
7 ,1 2 0 .2
7 ,1 1 9 .1
2.0
2.6
8 4 .1 9 4
2.6
2.6
7 ,1 2 0 .7
7 .1 3 4 .6
7 ,1 4 9 .3
1 .9
2 .5
2 .9
2 .9
7 ,1 5 4 .1
7 ,1 3 3 .8
7 ,1 9 1 .8
1 .9
2.6
2.8
2.0
1.6
II I
IV ...........................
2 .4
2.1
2.1
1.0
0.0
7 .1 6 9 .9
-
0.8
1.0
- 1 .7
2.8
0.8
0.0
8 4 .5 3 3
8 4 .1 6 5
8 4 .1 6 4
8 4 .7 7 2
8 5 .0 5 8
8 4 .7 6 2
8 4 .7 5 8
8 5 .2 0 0
8 5 .5 5 6
8 5 .2 0 6
8 5 .2 0 2
D-50
National Data
March 2007
Table C.1. GDP and Other Major NIPA Aggregates— Table Ends
[Quarterly estimates are seasonally adjusted at annual rates]
B illio n s o f c h a i n e d ( 2 0 0 0 ) d o l l a r s
Y ear a n d q u a rte r
1992:
1993:
1994:
1995:
1996:
1997:
1998:
1999:
2000:
2001:
2002:
2003:
2004:
2005:
2006:
P e r c e n t c h a n g e fro m
C h a in - ty p e p r ic e in d e x e s
I m p lic it p r i c e d e f l a t o r s
p r e c e d in g p e rio d
[ 2000= 100]
[ 2000= 100]
P e r c e n t c h a n g e fro m p r e c e d in g p e rio d
C h a i n - t y p e p r i c e in d e x
Im p lic it p ric e d e f l a t o r s
G ro ss
F in a l s a l e s of
G ro ss
G ro ss
F in a l s a l e s o f
G ro s s
G ro ss
G ro ss
G ro ss
d o m e s tic
d o m e s tic
n a tio n a l
d o m e s tic
d o m e s tic
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
G ro ss
G ro ss
G ro s s
G ro ss
p ro d u ct
p ro d u ct
p ro d u ct
p ro d u ct
pro d u ct
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
d o m e s tic
d o m e s tic
d o m e s tic
n a tio n a l
p ro d u ct
p u rch a ses
p ro d u ct
p ro d u ct
4 .2
6.0
7 ,3 3 4 .5
3 .9
7 ,4 0 2 .6
4 .0
I ..............................
7 ,2 2 8 .2
7 ,2 3 9 .3
7 ,2 6 5 .5
I I ............................
7 ,2 9 7 .9
7 ,2 8 4 .3
I l l ...........................
7 ,3 6 9 .5
7 ,3 6 0 .5
8 5 .7 6 6
8 6 .0 9 3
8 5 .7 2 1
8 5 .7 1 0
2 .7
2 .5
2 .4
2 .4
2 .5
86.212
8 6 .5 8 8
8 6 .1 9 0
8 6 .1 8 1
2 .3
4 .2
8 6 .5 8 7
8 7 .0 9 8
8 6 .5 8 0
8 6 .5 6 7
2 .4
2.2
1.8
2.1
IV ...........................
7 ,4 5 0 .7
7 ,4 4 0 .3
7 ,4 8 5 .0
4 .5
4 .4
8 7 .0 4 2
8 7 .5 3 1
8 7 .0 2 9
8 7 .0 1 9
2.1
1.8
2.1
2.0
2.2
1.8
2.1
I ..............................
7 ,4 5 9 .7
7 ,4 3 1 .2
7 ,5 0 2 .4
0 .5
- 0 .5
8 7 .7 2 9
8 8 .0 7 6
8 7 .7 0 7
8 7 .7 0 5
3 .2
2 .5
3 .2
3 .2
I I ............................
7 ,4 9 7 .5
7 ,4 8 3 .7
7 ,5 3 2 .8
8 8 .2 0 4
8 8 .5 9 5
8 8 .1 9 0
8 8 .1 8 9
2.2
7 ,5 4 0 .6
7 ,5 7 7 .7
3 .1
8 8 .5 9 9
8 8 .9 1 6
8 8 .5 7 0
8 8 .5 7 4
1 .5
1 .7
I V ...........................
7 ,6 3 7 .4
7 ,6 3 3 .7
7 ,6 6 1 .5
5 .5
5 .0
8 9 .0 3 0
8 9 .3 3 1
8 9 .0 3 8
8 9 .0 4 8
2.2
1.8
2.0
2 .4
7 ,5 3 6 .0
2.0
2.1
2 .9
I l l ...........................
1 .9
2.1
2.2
1.8
2.2
2 .4
I ..............................
7 ,7 1 5 .1
7 ,6 7 7 .5
7 ,7 4 7 .2
4 .1
2 .3
8 9 .5 9 8
8 9 .8 0 0
8 9 .5 7 8
8 9 .5 8 3
2.6
7 ,8 1 5 .7
7 ,7 3 7 .2
7 ,8 4 3 .7
5 .3
3 .1
8 9 .9 8 0
9 0 .2 7 1
8 9 .9 5 4
8 9 .9 6 3
1 .7
2.1
2.1
2 .4
I I ............................
1 .7
1 .7
I l l ...........................
7 ,8 5 9 .5
7 ,8 1 4 .3
7 ,8 8 6 .8
2 .3
4 .0
9 0 .5 2 5
9 0 .9 2 1
9 0 .5 3 0
9 0 .5 2 7
2 .4
2 .9
2.6
2 .5
IV ...........................
7 ,9 5 1 .6
7 ,8 8 2 .3
7 ,9 7 9 .2
4 .8
3 .5
9 0 .9 5 8
9 1 .3 4 0
9 0 .9 5 2
9 0 .9 5 3
1 .9
1 .9
1 .9
1 .9
1..............................
7 ,9 7 3 .7
7 ,9 1 8 .7
8 ,0 1 4 .3
1.1
1 .9
9 1 .5 5 4
9 1 .8 7 7
9 1 .5 3 0
9 1 .5 3 4
2.6
2 .4
2.6
2.6
I I ............................
7 ,9 8 8 .0
7 ,9 6 2 .3
8 ,0 3 2 .0
0 .7
2.2
9 1 .8 9 1
9 2 .3 2 9
9 1 .8 5 9
9 1 .8 6 8
1 .5
2.0
1 .4
1 .5
I l l ...........................
8 ,0 5 3 .1
8 ,0 5 5 .0
8 ,0 8 1 .0
3 .3
4 .7
9 2 .2 8 1
9 2 .6 6 2
9 2 .2 8 9
9 2 .2 9 9
1 .7
1 .5
1 .9
1 .9
IV ...........................
8, 112.0
8 ,1 0 4 .8
8 ,1 5 2 .0
3 .0
2 .5
9 2 .7 3 4
9 3 .0 6 5
9 2 .7 3 3
9 2 .7 4 3
2.0
1.8
1 .9
1 .9
8 ,1 6 9 .2
8 ,1 7 5 .4
1..............................
8 ,2 1 3 .3
2 .9
3 .5
9 3 .6 0 2
9 3 .3 2 8
9 3 .3 3 8
2 .5
2 .3
2.6
2.6
I I ............................
8 ,3 0 3 .1
8 ,2 8 5 .8
8 ,3 3 7 .6
6 .7
5 .5
9 3 .6 1 5
9 3 .8 9 7
9 3 .6 5 9
9 3 .6 7 1
1 .3
1 .3
1 .4
1 .4
I l l ...........................
8 ,3 7 2 .7
8 ,3 1 9 .9
8 ,4 0 2 .7
3 .4
1 .7
9 4 .0 6 4
9 4 .2 8 6
9 3 .9 5 1
9 3 .9 6 2
1 .9
1 .7
1 .3
IV ...........................
8 ,4 7 0 .6
8 ,4 4 4 .7
8 ,5 0 7 .6
4 .8
6.1
9 4 .4 5 5
9 4 .7 9 6
9 4 .4 5 0
9 4 .4 5 8
1 .7
2.2
2.1
1.2
2.1
9 5 .0 5 8
2.2
1 .7
2.6
0.6
2.6
0.6
1 .4
1 .4
1..............................
9 3 .3 0 2
8 ,5 3 6 .1
8 ,5 0 7 .3
8 ,5 6 6 .0
3 .1
3 .0
9 4 .9 6 3
9 5 .1 8 9
9 5 .0 5 4
I I ............................
8 ,6 6 5 .8
8 ,5 7 4 .6
8 ,7 0 7 .0
6.2
3 .2
9 5 .2 9 1
9 5 .2 9 6
9 5 .2 0 6
9 5 .2 1 2
1 .4
0 .5
I l l ...........................
8 ,7 7 3 .7
8 ,7 0 5 .7
8 ,8 0 8 .7
5 .1
6 .3
9 5 .5 4 1
9 5 .4 9 4
9 5 .5 3 4
9 5 .5 4 2
1.1
IV ...........................
8 ,8 3 8 .4
8 ,7 5 8 .6
8, 868.1
3 .0
2 .5
9 5 .8 6 4
9 5 .7 8 1
9 5 .8 4 6
9 5 .8 5 1
1 .4
0.8
1.2
1 .3
1 .3
1..............................
8 ,9 3 6 .2
8 ,8 2 1 .1
8 ,9 6 5 .5
4 .5
2 .9
9 6 .0 9 6
9 5 .7 7 3
9 6 .0 8 9
9 6 .0 9 1
0.0
1.0
1.0
0 .7
I I ............................
8 ,9 9 5 .3
8 ,9 4 8 .7
9 ,0 2 2 .2
2 .7
5 .9
9 6 .2 8 4
9 5 .8 8 1
9 6 .2 4 9
9 6 .2 5 4
1.0
0.8
0 .5
0 .7
I l l ...........................
9 ,0 9 8 .9
9 ,0 3 8 .4
9 ,1 1 2 .2
4 .7
4 .1
9 6 .6 2 0
9 6 .1 4 1
9 6 .6 0 0
9 6 .6 0 4
1 .4
1.1
1 .5
1 .5
IV ...........................
9 ,2 3 7 .1
9 ,1 8 2 .2
9 ,2 5 5 .2
6.2
6 .5
9 6 .9 0 1
9 6 .4 4 4
9 6 .9 3 4
9 6 .9 3 2
1.2
1 .3
1 .4
1 .4
1 .7
1..............................
9 ,3 1 5 .5
9 ,2 3 9 .7
9 ,3 4 6 .7
3 .4
2 .5
9 7 .2 7 4
9 6 .7 6 1
9 7 .3 2 8
9 7 .3 3 0
1 .5
1 .3
1.6
I I ............................
9 ,3 9 2 .6
9 ,3 5 3 .7
9 ,4 2 9 .1
3 .4
5 .0
9 7 .7 0 1
9 7 .3 1 7
9 7 .6 7 4
9 7 .6 7 5
1.8
2 .3
1 .4
I l l ...........................
9 ,5 0 2 .2
9 ,4 5 3 .5
9 ,5 3 2 .7
4 .8
4 .3
9 8 .0 2 2
9 7 .7 9 0
9 8 .0 1 3
9 8 .0 1 4
1 .3
2.0
1 .4
1 .4
IV ...........................
9 ,6 7 1 .1
9 ,5 6 9 .3
9 ,7 1 0 .4
7 .3
5 .0
9 8 .4 7 5
9 8 .3 5 6
9 8 .4 3 2
9 8 .4 3 3
1 .9
2 .3
1 .7
1 .7
3 .8
3 .6
1 .4
1..............................
9 ,6 9 5 .6
9 ,6 6 8 .8
9 ,7 2 9 .0
1.0
4 .2
9 9 .3 1 1
3 .4
I I ............................
9 ,8 4 7 .9
9 ,7 4 8 .4
9 ,8 8 5 .3
6 .4
3 .3
9 9 .7 8 0
9 9 .7 1 4
9 9 .7 4 5
9 9 .7 4 1
2.0
1.8
1 .7
1 .7
I l l ...........................
9 ,8 3 6 .6
9 ,7 8 0 .4
9 ,8 6 7 .8
- 0 .5
1 .3
1 0 0 .2 4 1
1 0 0 .2 8 3
1 0 0 .2 5 9
1 0 0 .2 6 2
1 .9
2 .3
IV ...........................
9 ,8 8 7 .7
9 ,8 4 4 .3
9 ,9 4 1 .6
2.1
2.6
1 0 0 .6 8 7
1 0 0 .7 2 7
100.666
1 0 0 .6 7 2
1.8
1.8
2.1
1.6
2.1
1.6
3 .2
1..............................
9 ,8 7 5 .6
9 ,8 8 3 .2
I I ............................
9 ,9 0 5 .9
9 ,9 0 8 .7
9 ,9 4 9 .8
I l l ...........................
9 ,8 7 1 .1
9 ,8 9 9 .9
9 ,8 8 7 .7
IV ...........................
9 ,9 1 0 .0
9 ,9 9 2 .3
9 ,9 8 3 .1
1.6
1 0 ,0 0 4 .1
2 .7
9 ,9 1 3 .6
1.6
1.0
- 0 .5
1 0 1 .5 0 7
9 9 .2 7 5
9 9 .3 1 7
3 .6
1 0 1 .4 0 3
1 0 1 .4 7 8
1 0 1 .4 8 0
3 .3
2 .7
3 .3
1 0 2 .2 9 0
1 0 1 .9 7 4
1 0 2 .2 5 2
1 0 2 .2 4 8
3 .1
2 .3
3 .1
- 0 .4
1 0 2 .6 9 0
1 0 2 .2 2 3
1 0 2 .6 7 5
1 0 2 .6 7 1
1.6
1 .7
1 0 3 .1 2 2
1 0 2 .3 7 8
1 0 3 .1 9 1
1 0 3 .1 8 3
1 .7
1.0
0.6
1 .7
3 .8
2.0
2.0
0.2
1 0 3 .5 5 3
1.2
- 1 .4
9 9 .2 9 2
3 .1
1..............................
9 ,9 7 7 .3
9 ,9 8 6 .8
1 0 2 .7 5 5
1 0 3 .5 6 8
1 0 3 .5 5 2
1 .7
1 .5
1 .5
1 .4
I I ............................
1 0 ,0 3 1 .6
1 0 ,0 2 8 .4
1 0 ,0 4 8 .6
2.2
1 .7
1 0 3 .9 4 4
1 0 3 .3 8 5
1 0 3 .9 3 8
1 0 3 .9 2 8
1 .5
2 .5
1 .4
1 .5
I l l ...........................
1 0 ,0 9 0 .7
1 0 ,0 6 3 .5
1 0 ,1 1 9 .7
2 .4
1 .4
1 0 4 .3 4 7
1 0 3 .8 1 6
1 0 4 .3 2 8
1 0 4 .3 2 1
1 .7
1 .5
1 .5
IV ...........................
1 0 ,0 9 5 .8
1 0 ,0 6 7 .3
1 0 ,1 4 3 .8
0.2
0.1
1 0 4 .9 2 6
1 0 4 .3 7 4
1 0 4 .9 0 7
1 0 4 .9 0 3
1.6
2.2
2.2
2.2
2 .3
1..............................
1 .3
1 0 ,1 6 3 .8
1.2
-
1 0 ,1 2 6 .0
1 0 ,1 0 0 .9
1 0 5 .7 4 2
1 0 5 .4 3 5
3 .1
4 .1
I I ............................
1 0 ,2 1 2 .7
1 0 ,2 1 3 .7
1 0 ,2 6 6 .9
3 .5
4 .5
1 0 6 .0 7 6
1 0 5 .5 8 7
1 0 6 .0 6 2
1 0 6 .0 5 3
1 .3
I l l ...........................
1 0 ,3 9 8 .7
1 0 ,3 8 5 .9
1 0 ,4 4 9 .9
7 .5
6 .9
1 0 6 .6 1 6
1 0 6 .1 7 0
1 0 6 .6 1 1
1 0 6 .6 0 2
0.6
2.2
IV ...........................
1 0 ,4 6 7 .0
1 0 ,4 4 0 .0
1 0 ,5 4 0 .5
2 .7
2.1
1 0 7 .2 0 4
1 0 6 .6 7 1
1 0 7 .1 9 0
1 0 7 .1 8 0
2.1
2.2
1 0 ,6 3 2 .2
3 .9
1 0 5 .7 2 4
1 0 5 .7 1 8
1 .9
3 .2
3 .1
1 .3
1 .3
2.1
2.2
2.1
2.2
3 .8
1..............................
1 0 ,5 6 6 .3
1 0 ,5 2 8 .7
1 0 8 .1 9 0
1 0 7 .8 0 3
1 0 8 .1 8 3
3 .7
4 .3
3 .8
I I ............................
1 0 ,6 7 1 .5
1 0 ,5 9 6 .1
1 0 ,7 0 9 .4
4 .0
2.6
1 0 9 .1 7 2
1 0 8 .8 8 0
1 0 9 .1 6 2
1 0 9 .1 5 4
3 .7
4 .1
3 .7
3 .7
I l l ...........................
1 0 ,7 5 3 .3
1 0 ,7 0 0 .1
1 0 ,7 9 6 .3
3 .1
4 .0
1 0 9 .7 4 4
1 0 9 .5 8 8
1 0 9 .7 2 8
1 0 9 .7 1 7
2.1
2.6
2.1
2.1
1 0 ,8 2 2 .9
1 0 ,7 6 8 .2
1 0 ,8 4 9 .3
2.6
2.6
1 1 0 .6 1 0
1 1 0 .5 6 7
1 1 0 .6 0 1
1 1 0 .5 9 2
3 .2
3 .6
3 .2
3 .2
3 .4
IV ...........................
3 .4
1 0 8 .1 7 7
1..............................
1 0 ,9 1 3 .8
1 0 ,8 5 6 .5
1 0 ,9 4 6 .0
3 .4
3 .3
1 1 1 .5 5 8
1 1 1 .4 4 9
1 1 1 .5 3 9
1 1 1 .5 2 5
3 .5
3 .2
3 .4
I I ............................
11, 001.8
1 1 ,0 0 5 .3
1 1 ,0 2 8 .2
3 .3
5 .6
1 1 2 .2 2 9
1 1 2 .3 6 2
1 1 2 .2 1 9
1 1 2 .2 0 9
2 .4
3 .3
2 .5
2 .5
I l l ...........................
1 1 ,1 1 5 .1
1 1 ,1 2 3 .5
1 1 ,1 6 2 .0
4 .2
3 .3
1 1 ,1 6 3 .8
1 1 ,1 1 5 .5
1 1 ,1 7 5 .6
1.8
1 1 ,3 1 6 .4
1 1 ,2 6 9 .0
1 1 ,3 4 2 .7
I I .............................
1 1 ,3 8 8 .1
1 1 ,3 2 8 .0
1 1 ,4 0 8 .5
II I
1 1 .4 4 3 .5
1 1 ,3 8 1 .6
1 1 ,4 5 8 .5
I
1 1 .5 0 6 .5
1 1 ,4 8 3 .2
IV ...........................
1..............................
V
4 .4
1 1 3 .1 3 9
1 1 3 .5 7 2
1 1 3 .1 2 1
1 1 3 .1 1 3
3 .3
4 .4
3 .3
- 0 .3
1 1 4 .0 4 8
1 1 4 .5 4 1
1 1 4 .0 3 4
1 1 4 .0 2 5
3 .3
3 .5
3 .3
3 .3
5 .6
5 .6
1 1 4 .9 6 7
1 1 5 .3 1 3
1 1 4 .9 5 1
1 1 4 .9 4 2
3 .3
2 .7
3 .3
3 .3
2.6
2.0
2.2
2.1
1 1 5 .9 0 5
1 1 6 .4 5 5
1 1 5 .8 8 7
1 1 5 .8 7 9
3 .3
4 .0
3 .3
3 .3
1 .9
1 1 6 .4 4 6
1 1 7 .0 8 0
1 1 6 .4 2 0
1 1 6 .4 1 4
1 .9
1 .9
1 1 6 .9 2 4
1 1 7 .1 4 2
1 1 6 .8 9 0
2.2
0.2
1 .9
3 .6
1 .7
1.6
March 2007
D-51
D. Charts
The percent changes shown are based on quarter-to-quarter changes and are expressed at seasonally adjusted annual rates.
The levels o f series are also expressed at seasonally adjusted annual rates as appropriate.
SELECTED NIPA SERIES
Chained (2000) dollars
Apr Feb
40,000 -----------------------
D ec
N ov
N ov
M ar
J a n J Iy J ly
N ov
J ly
M ar
M ar
N ov
40,000
35,000-
-35,000
30,000-
-30,000
2 5 ,0 0 0 -
-25,000
20,000 ^
-
1 5,000-
-15,000
20,000
10,000
10,000
69
Percent
w
pgj-,
D ec
20
71
N ov
73
75
N ov
M ar
91
J a n JMl ya rJ l y
01
N ov
03
M ar N ov
20
-1 5
-1 0
-
5
0
--5
-1 0
- i o
59
61
63
U .S . B u r e a u of E c o n o m ic A n a ly s is
65
D-52
National Data
March 2007
SELECTED NIPA SERIES
P e rce n t
A pr
Feb
D ec
N ov
N ov
J a n J ly J ly
M ar
N ov
J ly
M ar
M ar
N ov
S H A R E S O F F E D E R A L G O V E R N M E N T R E C E IP T S
-5 0
P e rs o n a l c u rre n t ta x e s
40
;
^
^
C o n trib u tio n s fo r g o v e r n m e n t s o c ia l in s u r a n c e
-30
20
b/~T a x e s o n c o rp o r a te in c o m e
10
-
T a x e s o n p ro d u c tio n a n d im p o r ts
P e rc e n t
/w
p© b
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar N ov
70
S H A R E S O F F E D E R A L G O V E R N M E N T C U R R E N T E X P E N D IT U R E S
60 -
- 60
C u r r e n t tr a n s fe r p a y m e n ts /
'S'
- 50
50 - -
-40
40 - ........................
C o n s u m p tio n e x p e n d itu r e s
30 - -
- 30
20
-2 0
I n te r e s t p a y m e n ts
10
-
P e rce n t
A pr
Feb
D ec
N ov
N ov
J a n J ly J ly
M ar
N ov
J ly
M ar
10
M ar N ov
R A T IO , N E T G O V E R N M E N T S A V IN G T O G R O S S D O M E S T I C P R O D U C T
N e t g o v e r n m e n t s a v in g
S t a t e a n d lo c a l
--2
b - - 4
F e d e ra l
-6
-
59
I
I
61
I
i
63
i
i
65
U.S. Bureau of Economic Analysis
i
i
67
i
i
69
i I I
71
I
73
I
r
75
i
I
77
I
I
79
I
I
81
I
I
83
I
I
85
I
l
87
i
I
89
T H
I
91
93
I
I
I
95
I
I
97
I
I
99
I
l i
01
I
03
I
I
05
March 2007
D-53
S u r v e y o f C u r r e n t B u s in e s s
SELECTED NIPA SERIES
Percent
A pr
20
15 -
10
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar
N ov
20
R A T IO , S A V I N G S T O G R O S S N A T IO N A L I N C O M E
\
'
/ y
/ - <—
V
A
f
V
/
\
rK
\
*■/
^
G r o s s s a v in g
IV /
'
-
-
n
.
V
/ ~
l ||p
"
—
10
-
0
G r o s s b u s in e s s s a v in g *
M
/ ' * * •
/
" ^/% '
w
f
L
— *
15
I
V "
V
-
—
« ♦
\
/
I .-'V .
W
'■ ■ ■ • **
v * \
|. %
«
-5
i I I I I I I I I I I I I I i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i r
59
61
63
65
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
05
Percent
A pr
25
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
-------------------------------------------------------------------------------------------------
M ar
M ar
N ov
--------------
25
R A T IO , I N V E S T M E N T T O G R O S S N A T IO N A L P R O D U C T
20
-
* \ yr
v
_
/
\ *
%
^
15 -
r
v»,
V
/
/~y
/
G r o s s d o m e s t i c iini ivvecsotumi iecni ht pjjil u s b a l a n c e o n c u r r e n t a c c o u n t ( N I P A s )
\
\t*\
I
i /
\ / G r o s s p r iv a te d o m e s tic in v e s tm e n t
\\
-
20
-
15
-
10
-
5
^
w
- ^
,«-■
'
10
G r o s s g o v e rn m e n t in v e s tm e n t
5 -
-5 -
-1 0
I .....I....
59
[
[
61
I
63
I
I
65
I
I
67
I
I .......I"
69
I
71
I
l......... I"
73
1 i i i i i "f.‘"1" i i i i i i i i i i i i i i i i i i i i i i r
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
-1 0
05
Percent
A pr
60
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar N ov
60
S H A R E S O F G R O S S P R IV A T E D O M E S T I C F I X E D I N V E S T M E N T
------ N
/
50 - I
\A
.
50
_ /
N o n re s id e n tia l e q u ip m e n t a n d s o f tw a r e
40 -
—
\
30 -
.■» \ /
\
/
/
/ —\
s
" * v
V /'
N\ . y
\
■
/
~
\J
20
m
S
R e s id e n tia l in v e s tm e n t
* V
___________
- —
-
. A
' A
-
40
-
30
20
.
/
N o n re s id e n tia l s tr u c tu r e s
10
-
-
i
59
61
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I l l I i l I l I I i l l
63
65
U.S. Bureau of Economic Analysis
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
l l l
03
05
10
D-54
March 2007
National Data
SELECTED NIPA SERIES
2005
1959
S H A R E S O F N A T IO N A L IN C O M E
S u p p l e m e n ts to w a g e s
W a g e a n d s a la ry
s a la rie s , 4 .6 %
a c c ru a ls , 5 7 .0 %
W a g e a n d s a la ry
S u p p l e m e n ts to w a g e s
a c c ru a ls , 5 2 .5 %
a n d s a la r ie s , 1 2 .7 %
P r o p r ie to r s ’ in c o m e , 1 1 .1 %
P r o p r ie to r s ’ in c o m e ,
8.6%
R e n ta l in c o m e
R e n ta l in c o m e
o f p e rs o n s , 3 .6 %
of p e rs o n s , 0 .7 %
C o r p o r a t e p ro fits ,
12. 2%
t in te r e s t a n d m is c . p a y m e n ts ,
C o r p o r a t e p ro fits , 1 2 . 4 %
2 . 1%
N e t in te r e s t a n d m is c . p a y m e n ts ,
4 .6 %
O th e r 0 4 %
T a x e s o n p ro d u c tio n a n d im p o r ts , 9 .0 %
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 BY S E C T O R
1959
T a x e s o n p ro d u c tio n a n d im p o r ts , 8 .3 %
2005
B u sin e s s, 7 7 .3 %
B u s in e s s , 8 0 .6 %
O th e r, 0 . 1 %
H o u s e h o ld s , 5 .9 %
N o n p ro f it in s t itu tio n s s e r v i n g
h o u s e h o ld s ,
2. 0%
H o u se h o ld s, 6 .3 %
N o n p ro f it in s t itu tio n s
s e rv in g h o u s e h o ld s ,
5 .2 %
G e n e ra l g o v e rn m e n t,
F e d e ra l 6 .3 %
G e n e ra l g o v e rn m e n t,
F e d e ra l, 3 .4 %
G e n e ra l g o v e rn m e n t,
s t a t e a n d lo c a l 5 . 2 %
G e n e ra l g o v e rn m e n t,
s t a t e a n d lo c a l, 7 . 8 %
March 2007
D-55
S u r v e y o f C u r r e n t B u s in e s s
SELECTED NIPA SERIES
P e rc e n t
A pr
60
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
J ly
N ov
M ar N ov
M ar
50
50
40
40
30
-3 0
20
-
10
0
59
61
63
65
6 7 '
69
71
' 73
75
77
79
81
83
85
8 7 ’
89
91
93
95
9 7 ’
9 9 '
01
03
05
P e rce n t
A pr
Feb
D ec
1 8
N ov
N ov
M ar
J a n J ly J ly
—
—
r —
N ov
J ly
—
M ar
—
M ar
—
i
.
..............................................—
N ov
1 8
16
14
12
10
59
61
63
65
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
05
Percent
Ap r
70
Fe b
De c
No v
No v
Ma r
J a n Jl y Jl y
No v
Jl y
Ma r
Ma r
No v
S H A R E S O F P E R S O N A L C O N S U M P T IO N E X P E N D IT U R E S B Y T Y P E O F P R O D U C T
60 -
- 60
S e rv ic e s
- 50
50 -
- 40
40 N o n d u ra b le g o o d s
- 30
30 20
-2 0
D u ra b le g o o d s
10
-
-
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
59
61
63
65
U.S. Bureau of Economic Analysis
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
05
10
D-56
National Data
March 2007
SELECTED NIPA SERIES
P e rc e n t
A pr
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar
N ov
20
16
0
91
93
95
97
99
01
03
05
R a tio
A pr
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar
N ov
5
INVENTORY/SALES RATIOS, CURRENT DOLLAR
R a tio o f p r iv a t e n o n f a r m in v e n to r ie s to
f in a l s a l e s o f g o o d s a n d s t r u c t u r e s
R a tio o f p r iv a te in v e n to r ie s to
3
fin a l s a l e s o f d o m e s t i c b u s i n e s s
2
R a tio o f p r iv a t e n o n f a r m i n v e n to r ie s to
f in a l s a l e s o f d o m e s t i c b u s i n e s s
'B a s e d o n c u rr e n t-d o lla r e s tim a te s o f in v e n to rie s a n d s a le s
1
I
59
I
I
I
61
I
63
I
I
65
I
I
I
67
I
I
I
69
I
71
I
I
73
I
I
75
I
77
I
I
I
79
I
j
81
I
83
I
I
85
I
I
I
87
I
I
89
I
91
I
I
I
93
I
I
95
I
i
97
I
I
99
I
01
I
I
03
I
I
05
R a tio
A pr
Feb
D ec
N ov
N ov
M ar
J a n J ly J ly
N ov
J ly
M ar
M ar N ov
INVENTORY/SALES RATIOS, REAL*
R a tio o f p r iv a te n o n f a r m in v e n to r ie s to
f in a l s a l e s o f g o o d s a n d s t r u c t u r e s
R a tio o f p r iv a t e in v e n to r ie s to
f in a l s a l e s o f d o m e s t i c b u s i n e s s
R a tio o f p r iv a t e n o n f a r m in v e n to r ie s to
f in a l s a l e s o f d o m e s t i c b u s i n e s s
'Based on chained (2000) dollar estimates of inventories and sales
1
I
59
I
I
61
I
I
63
I
I
65
U.S. Bureau of Economic Analysis
I
I
67
I
I
69
I
I
71
I
i
73
l
l
75
I
I
77
I
I
79
I
I
81
I
I
83
I
I
85
I
I
87
I
I
89
I
I
91
I
I
93
I
I
95
I
I
97
I
I
99
I
I
01
I
I
03
I
I
05
D-57
March 2007
Industry Data
E. Industry Table
The estimates in this table were published in tables 5A and 7 in “Annual Industry Accounts: Revised Estimates
for 2003-2005” in the December 2006 S u r v e y .
Table E.1. Percent Changes in Chain-Type Quantity and Price Indexes for Value Added by Industry for 2003-2005
L in e
C h a in -ty p e
C h a in - ty p e
q u a n tity in d e x e s
p r ic e in d e x e s
2003
1
2004
2005
2003
2004
L in e
2 .5
3 .9
3 .2
2.1
2.8
3 .0
2 Private industries...........................................................
2 .7
4 .2
3 .3
1.8
2.8
3 .1
Agriculture, forestry, fishing, and hunting................
7 .5
6.1
4
F a r m s ................................................................................................................
8 .4
7 .4
0.1
1.0
5
F o r e s tr y , f is h in g , a n d r e l a t e d a c t i v i t i e s ..................................
4 .8
1 .4
3
6
Mining..........................................................................
- 0 .9
7
O il a n d g a s e x t r a c t i o n ...........................................................................
- 4 .7
-
8
M in in g , e x c e p t o il a n d g a s ................................................................
- 0 .7
- 1 .9
9
S u p p o r t a c t i v i t i e s f o r m i n i n g ............................................................
1 4 .9
1 3 .9
6 .9
2.0
10
Utilities........................................................................
11
Construction...............................................................
12
-
1 1 .5
1 7 .0
- 1 3 .4
1 5 .0
2 0 .9
- 1 7 .2
3 .3
2 .7
1.2
- 3 .1
2.6
1 7 .5
1 5 .1
7 .1
- 1 8 .1
- 5 .5
- 1 0 .9
R e a l e s t a t e a n d r e n t a l a n d l e a s i n g .......................................
1 .7
5 .7
3 .4
2 .9
2 .3
2 .3
2.0
6 .4
3 .9
2 .7
2 .3
2.2
- 3 .3
- 3 .5
5 .0
2 .7
4 .3
2.6
-2 .4
2 .4
1.2
-
P r o f e s s i o n a l a n d b u s i n e s s s e r v i c e s .........................................
4 .4
5 .2
5 .6
0.6
2 .5
1 .5
3 .9
P r o f e s s io n a l, s c ie n tific , a n d te c h n ic a l s e r v i c e s
4 .0
7 .8
0.0
L e g a l s e r v i c e s .......................................................................................
1 .9
3 .5
6.8
0.8
C o m p u t e r s y s t e m s d e s i g n a n d r e l a t e d s e r v i c e s .......
-0 .3
8.2
7 .5
-
0.6
6.0
- 2.6
4 .4
4 .2
5 .0
7 .4
8 .7
2.1
8.1
16
P r i m a r y m e t a l s ................
- 4 .1
1 5 .2
2 2 .9
1 3 .6
17
F a b r ic a te d m e ta l p r o d u c ts
2 .5
5 .1
18
M a c h i n e r y ..........................
-
19
C o m p u t e r a n d e l e c t r o n i c p r o d u c t s ......................................
1 5 .5
20
21
22
2.6
-
M o to r v e h i c l e s , b o d i e s a n d t r a i l e r s , a n d p a r t s ...........
7 .4
-
O t h e r t r a n s p o r t a t i o n e q u i p m e n t ............................................
- 1 3 .7
23
F u r n i t u r e a n d r e l a t e d p r o d u c t s ...............................................
8.6
-
-
0.6
1.0
- 4 .7
4 .8
-
- 0 .9
1.2
3 .2
1 3 .4
-
9 .4
8 .3
0.8
4 .9
- 1 .3
- 1 .5
- 3 .7
4 .8
- 1 .4
1 0 .3
- 0 .4
2 .4
- 4 .6
-1 2 .5
- 4 .3
- 0 .3
- 2 .4
-
2 .5
8.0
0.1
2.1
0.1
4 .2
1 .3
- 5 .6
2 4 .1
-2 1 .3
5 7 .9
- 0 .5
8 .3
- 1 .7
3 .5
0.8
1.8
5 .6
2 .7
5 .0
0.2
2.2
5 .4
3 .3
7 .6
- 3 .0
3 .3
3 .0
5 .6
5 .0
- 0 .5
H e a l t h c a r e a n d s o c i a l a s s i s t a n c e .......................................
4 .5
3 .4
3 .7
2.6
3 .0
8 .4
A m b u l a t o r y h e a l t h c a r e s e r v i c e s ..........................................
4 .6
3 .8
5 .9
1 .9
2.2
2.8
2.0
7 .4
H o s p i t a l s a n d n u r s i n g a n d r e s i d e n t i a l c a r e f a c ilit ie s
4 .0
2 .4
0.6
4 .0
0.6
S o c i a l a s s i s t a n c e ................................................................................
6 .3
5 .2
5 .7
0 .4
- 3 .5
- 2 .3
0 .4
2 .7
-
F o o d a n d b e v e r a g e a n d t o b a c c o p r o d u c t s ...................
5 .3
3 .7
2 .5
A p p a r e l a n d l e a t h e r a n d a llie d p r o d u c t s .........................
6 .4
1 .9
3 .6
T e x tile m ills a n d te x tile p r o d u c t m il ls ..................................
5 .7
A d m in is tra tiv e a n d w a s te m a n a g e m e n t s e r v i c e s
3 .5
- 3 .4
28
4 .9
2 .3
0.1
0.0
27
-0 .4
3 .5
3 .3
4 .3
2.1
0.2
- 0 .7
1 .4
3 .5
10.6
2 .5
-
8.8
2 .7
4 .4
2 .7
-
9 .2
2.8
t e c h n i c a l s e r v i c e s ........................................................................
E d u c a t i o n a l s e r v i c e s .........................................................................
0 .5
- 5 .9
3 .7
-2 .4
4 .8
2.8
-
- 1 .5
- 2 .9
1 .3
0.2
- 1 .5
-
10.8
2.1
4 9 .8
7 .2
33
P l a s t i c s a n d r u b b e r p r o d u c t s ..................................................
0.1
8.2
- 1 .5
- 2 .4
34
Wholesale trade..........................................................
2.1
1.1
1 .5
1 .3
6.8
6 .4
35
Retail trade..................................................................
3 .9
2 .5
5 .0
0 .5
1 .4
0 .4
36
Transportation and warehousing..............................
2.0
5 .2
4 .0
1 .9
- 0 .9
0 .4
37
A ir t r a n s p o r t a t i o n ......................................................................................
7 .0
5 .9
6.2
0.0
2.1
- 1 8 .0
- 1 4 .1
- 3 .2
2.6
6.1
R a il t r a n s p o r t a t i o n ...................................................................................
5 .0
4 .9
- 3 .5
39
W a t e r t r a n s p o r t a t i o n ..............................................................................
- 4 .8
10.1
12.0
40
T r u c k t r a n s p o r t a t i o n ................................................................................
7 .8
4 .6
1 .3
1 .9
41
T r a n s it a n d g r o u n d p a s s e n g e r t r a n s p o r t a t i o n ...................
-
0.1
1.0
4 .6
3 .5
42
P i p e l i n e t r a n s p o r t a t i o n ........................................................................
- 3 .3
- 0 .3
-1 1 .5
- 2 .3
1 .5
2.1
-
1 9 .6
3 1 .9
-
1 0 .7
1.1
2.0
-1 8 .8
4 .8
4 .3
0.2
0 .4
a n d f o o d s e r v i c e s .................................................................................
3 .1
3 .0
1 .4
1 .4
3 .1
3 .4
A r t s , e n t e r t a i n m e n t , a n d r e c r e a t i o n ....................................
1 .9
0 .5
- 0 .4
2 .7
2 .9
3 .4
1 .3
-
4 .8
P e r fo r m in g a r ts , s p e c ta to r s p o r ts , m u s e u m s , a n d
r e l a t e d a c t i v i t i e s ............................................................................
2 .3
1.6
-
1.2
3 .7
3 .9
0.2
0 .3
1 .9
2.0
2.2
0 .9
3 .2
3 .5
A c c o m m o d a t i o n a n d f o o d s e r v i c e s ....................................
3 .5
4 .0
2.0
A c c o m m o d a t i o n ...................................................................................
0 .5
3 .8
0 .7
1 .3
5 .3
4 .8
F o o d s e r v i c e s a n d d r in k in g p l a c e s ......................................
4 .9
4 .1
2.6
0.8
2 .3
2.8
O t h e r s e r v i c e s , e x c e p t g o v e r n m e n t ..........................................
2.0
-0 .5
- 0 .7
3 .0
3 .8
3 .9
0 .7
4 .6
4 .6
4 .2
0.2
0.6
4 .9
5 .7
6.0
0.8
6.2
4 .5
4 .1
G o v e r n m e n t .............................................................................................................
1 .3
0 .5
F e d e r a l ...................................................................................................................
0 .9
G e n e r a l g o v e r n m e n t ..............................................................................
2 .4
2 .7
G o v e r n m e n t e n t e r p r i s e s .....................................................................
1.1
0 .7
S t a t e a n d l o c a l ...............................................................................................
0 .3
G e n e r a l g o v e r n m e n t ..............................................................................
0.8
0.6
G o v e r n m e n t e n t e r p r i s e s .....................................................................
2 .5
1.0
-
- 5 .3
-
2 .5
4 .4
5 .4
-
1.8
4 .9
4 .0
4 .2
- 1 .7
1.1
1.0
1.8
- 0 .4
4 .5
2.0
4 .1
43
O t h e r t r a n s p o r t a t i o n a n d s u p p o r t a c t i v i t i e s ........................
- 0 .4
2 .5
1 .3
3 .2
5 .6
44
W a r e h o u s i n g a n d s t o r a g e ................................................................
5 .1
6 .7
9 .4
0 .4
- 0 .5
-
45
Information..................................................................
3 .0
1 1 .4
9 .0
- 1 .7
- 2 .9
- 3 .7
46
P u b l i s h i n g i n d u s t r i e s ( i n c l u d e s s o f t w a r e ) ............................
7 .3
1 2 .5
1 2 .9
- 3 .2
- 3 .9
- 0 .4
P r i v a t e g o o d s - p r o d u c i n g i n d u s t r i e s 1.............................................
0.6
4 .8
2.1
3 .2
3 .3
6.1
47
M o tio n p i c t u r e a n d s o u n d r e c o r d i n g i n d u s t r i e s ..............
1.0
1 .5
1.1
- 2 .5
0 .3
P r i v a t e s e r v i c e s - p r o d u c i n g i n d u s t r i e s 2.........................................
3 .3
4 .1
3 .7
1 .4
2.6
2 .3
48
B r o a d c a s t i n g a n d t e l e c o m m u n i c a t i o n s .................................
0 .9
11.8
7 .4
-
49
I n f o r m a tio n a n d d a t a p r o c e s s i n g s e r v i c e s .........................
6 .4
1 4 .5
7 .2
1 3 .7
1 3 .3
- 5 .7
1 3 .8
7 .7
-
A rts, e n te rta in m e n t, re c re a tio n , a c c o m m o d a tio n ,
2 .5
- 1 0 .7
7 .9
E d u c a tio n a l s e r v i c e s , h e a lth c a r e , a n d s o c ia l
A m u s e m e n t s , g a m b lin g , a n d r e c r e a t io n in d u s t r ie s
38
0.8
5 .9
M a n a g e m e n t o f c o m p a n i e s a n d e n t e r p r i s e s ..............
a s s i s t a n c e ....................................................................................................
2 .3
-1 2 .9
- 2 .5
M i s c e l l a n e o u s p r o f e s s i o n a l , s c ie n t if i c , a n d
7 .7
-3 .2
- 1 3 .3
1.8
6.1
0.1
6 .3
- 0 .5
- 1 3 .5
3 .8
1 .7
-
W a s t e m a n a g e m e n t a n d r e m e d i a t i o n s e r v i c e s ..........
4 .1
1 9 .9
- 2 .9
2.1
A d m in is tr a tiv e a n d s u p p o r t s e r v i c e s ...................................
1 4 .3
6.8
6.0
2.8
3 .8
0.8
1.2
- 2.6
2 0 .5
26
C h e m i c a l p r o d u c t s ...........................................................................
2 .9
F u n d s , t r u s t s , a n d o t h e r f i n a n c i a l v e h i c l e s .....................
i n t a n g i b l e a s s e t s ...........................................................................
1.1
32
- 1 .4
7 .0
4 9 .1
-0 .4
P e t r o l e u m a n d c o a l p r o d u c t s ...................................................
3 .5
1.1
7 .5
4 .3
7 .4
31
3 .4
- 6 .3
- 2 .7
1 4 .5
- 0 .7
-
1 .9
8 .3
8 .3
7 .0
N o n m e ta llic m in e r a l p r o d u c ts
P a p e r p r o d u c t s ....................................................................................
3 .2
6 .3
0.1
R e a l e s t a t e .............................................................................................
- 0.6
P r in t in g a n d r e l a t e d s u p p o r t a c t i v i t i e s ..............................
-3 .4
5 .0
-
R e n ta l a n d le a s in g s e r v i c e s a n d le s s o r s o f
- 1 .4
29
4 .6
r e l a t e d a c t i v i t i e s ............................................................................
I n s u r a n c e c a r r i e r s a n d r e l a t e d a c t i v i t i e s .........................
1 1 .5
1 5 .4
30
F e d e r a l R e s e r v e b a n k s , c r e d it in te r m e d ia tio n , a n d
S e c u rit ie s , c o m m o d ity c o n tra c ts , a n d in v e s tm e n ts
4 3 .8
- 1 .4
-
2.1
3 9 .2
5 .2
M i s c e l l a n e o u s m a n u f a c t u r i n g ..................................................
3 .9
9 .5
- 2 .9
N o n d u r a b l e g o o d s ...................................................................................
1 .5
2 5 .5
-
25
2.2
1 9 .0
4 .9
24
2.1
2 .3
3 .3
A6
2 .3
3 .5
5 6 .9
0.8
2005
2 .9
3 5 .8
2.2
E le c tr ic a l e q u ip m e n t, a p p lia n c e s , a n d c o m p o n e n ts
2004
2 .4
-3 .4
3 .2
0.2
1.8
2003
3 .0
- 4 .6
7 .7
15
2005
4 .3
-
6 .5
W o o d p r o d u c t s ....................................................................................
F i n a n c e a n d i n s u r a n c e .....................................................................
2004
2 .4
1.2
1.1
2.6
D u r a b l e g o o d s ............................................................................................
F in a n c e , in s u r a n c e , re a l e s ta t e , r e n ta l, a n d le a s in g
0 .9
0 .3
Manufacturing............................................................
13
14
C h a in - ty p e
p r ic e in d e x e s
2003
2005
Gross domestic product........................................
C h a in - ty p e
q u a n tity in d e x e s
2.8
1.2
- 3 .0
0 .4
^
1.0
0.6
6.1
- 2.2
-
1 . C o n s i s ts o f a g ric u ltu r e , f o re stry , fish in g , a n d h u n tin g ; m ining; c o n s tr u c tio n ; a n d m a n u fa c tu rin g .
2 . C o n s i s ts o f utilities; w h o le s a le tr a d e ; re ta il tr a d e ; tr a n s p o r ta tio n a n d w a r e h o u s in g ; in fo rm atio n ; f in a n c e , in s u r a n c e ,
r e a l e s t a t e , r e n ta l, a n d le a s in g ; p r o f e s s io n a l a n d b u s i n e s s s e r v i c e s ; e d u c a tio n a l s e r v i c e s , h e a lth c a r e , a n d s o c ia l a s s i s
ta n c e ; a r ts , e n te r ta in m e n t, r e c r e a t io n , a c c o m m o d a t io n , a n d fo o d s e r v i c e s ; a n d o th e r s e r v i c e s , e x c e p t g o v e rn m e n t.
0 .5
A ddenda:
In fo r m a tio n - c o m m u n ic a tio n s - te c h n o lo g y - p r o d u c in g
i n d u s t r i e s 3.....................................................................................................
- 6 .3
- 4 .3
3.
C o n s i s ts o f c o m p u te r a n d e le c tr o n ic p r o d u c ts ; p u b lis h in g in d u s t r ie s (in c lu d e s s o f tw a r e ); in f o r m a tio n a n d
p r o c e s s in g s e r v i c e s ; a n d c o m p u te r s y s t e m s d e s ig n a n d r e la te d s e r v i c e s .
Note . E s tim a te s in th is ta b le a r e b a s e d o n th e 1 9 9 7 N o rth A m e ric a n I n d u s tr y C la s s ific a tio n S y s te m (N A IC S ).
D-58
March 2007
International Data
F. Transactions Tables
Table F.l presents estimates of U.S. international trade in goods and services that were released on March 9, 2007. It
includes revised estimates for January to December 2006 and preliminary estimates for January 2007.
The sources for the other tables in this section are noted.
For BEA’s full set of detailed estimates of U.S. international transactions, visit BEA’s Web site at < www.bea.gov>.
Table F.1. U.S. International Transactions in Goods and Services
[Millions of dollars; monthly estimates seasonally adjusted]
2005
2005
2006
2006 r
D ec.
Jan .
'
F e b .'
M a rc h
'
A p ril
'
M ay
'
Ju n e
'
2007
J u ly
'
A u g .r
Sept
.'
O c t. r
N ov
.'
D ec
.'
Exports of goods and services..................................
1,275,245 1,436,816
112,567
114,405
113,459
115,581
115,717
118,268
120,966
119,590
122,363
122,993
123,449
124,732
125,292
Goods.......................................................................
894,631 1,023,689
79,429
81,142
80,491
82,093
81,570
83,795
86,692
85,195
87,761
88,327
88,240
89,010
89,373
J a n .p
126,672
90,850
F o o d s , f e e d s , a n d b e v e r a g e s ....................................................
5 8 ,9 5 5
6 5 ,9 1 8
4 ,9 7 9
5 ,2 6 0
4 ,9 1 9
5 ,1 4 9
5 ,0 9 9
5 ,4 5 1
5 ,6 6 3
5 ,6 1 6
5 ,9 7 2
5 ,7 1 9
5 ,7 4 8
5 ,5 1 8
5 ,8 0 5
6 ,1 3 9
I n d u s t r i a l s u p p l i e s a n d m a t e r i a l s ............................................
2 3 3 ,0 7 9
2 7 5 ,7 4 3
2 0 ,1 4 5
2 1 ,0 4 5
2 0 ,6 3 3
2 2 ,1 6 4
2 2 ,2 2 5
2 2 ,9 4 8
2 3 ,7 1 0
2 3 ,0 9 4
2 3 ,6 2 9
2 4 ,6 1 8
2 4 ,1 9 8
2 3 ,8 6 9
2 3 ,6 1 1
2 3 ,9 0 9
C a p i t a l g o o d s , e x c e p t a u t o m o t i v e .........................................
3 6 2 ,6 8 6
4 1 4 ,0 2 3
3 2 ,6 6 1
3 3 ,1 7 3
3 3 ,3 6 1
3 3 ,3 6 1
3 3 ,2 0 1
3 3 ,9 8 3
3 4 ,8 9 5
3 3 ,5 7 4
3 4 ,8 5 5
3 5 ,5 5 8
3 5 ,6 0 4
3 6 ,2 8 2
3 6 ,1 7 6
3 7 ,2 0 2
A u to m o ti v e v e h i c l e s , p a r t s , a n d e n g i n e s .........................
9 8 ,5 7 8
1 0 7 ,1 6 5
8 ,9 3 9
8 ,7 9 1
8 ,8 9 9
8 ,5 2 4
8 ,6 0 7
8 ,4 9 2
8 ,9 1 0
9 ,5 5 1
9 ,4 2 1
8 ,7 4 8
8 ,6 8 3
9 ,0 0 8
9 ,5 3 2
8 ,8 4 9
C o n s u m e r g o o d s ( n o n f o o d ) , e x c e p t a u t o m o t i v e ........
1 1 5 ,7 1 5
1 2 9 ,2 4 0
1 0 ,4 6 1
1 0 ,3 6 6
1 0 ,2 6 4
1 0 ,4 7 9
1 0 ,0 6 3
1 0 ,5 7 7
1 0 ,7 6 7
1 0 ,8 9 3
1 1 ,1 2 8
1 0 ,7 6 7
1 1 ,1 6 8
1 1 ,3 2 2
1 1 ,4 4 8
1 1 ,9 6 6
O t h e r g o o d s ..............................................................................................
3 6 ,9 6 4
4 5 ,1 8 9
3 ,4 0 8
3 ,3 5 0
3 ,3 2 4
3 ,3 2 6
3 ,3 1 2
3 ,3 9 7
3 ,7 0 1
3 ,5 5 8
3 ,9 7 3
4 ,2 1 3
4 ,1 4 3
4 ,6 2 0
4 ,2 7 1
4 ,0 3 6
1.........................................................................................
- 1 1 ,3 4 7
-1 3 ,5 9 0
- 1 ,1 6 4
-937
- 1 ,0 5 2
-954
380,614
413,127
33,138
8 5 ,6 9 7
6 ,8 6 4
A d ju s tm e n ts
Services....................................................................
T r a v e l ..............................................................................................................
8 1 ,6 8 0
-843
-909
-910
33,263
32,968
33,488
7 ,0 5 3
6 ,8 0 3
6 ,9 1 8
34,147
7 ,2 6 3
34,473
7 ,1 9 7
-1 ,0 9 0
- 1 ,2 1 7
- 1 ,2 9 6
- 1 ,3 0 3
- 1 ,6 0 9
- 1 ,4 7 0
-1 ,2 5 2
34,274
34,395
34,602
34,666
35,209
35,722
35,919
35,822
7 ,0 1 5
7 ,1 6 2
7 ,0 6 5
7 ,1 0 7
7 ,2 3 0
7 ,4 2 7
7 ,4 5 7
7 ,4 9 7
P a s s e n g e r f a r e s ...................................................................................
2 0 ,9 3 1
2 2 ,0 6 0
1 ,7 9 3
1 ,8 9 3
1 ,7 6 8
1 ,8 3 9
1 ,7 6 5
1 ,7 4 7
1 ,7 1 8
1 ,8 6 4
1 ,8 5 1
1 ,8 8 3
1 ,8 8 4
1 ,9 2 2
1 ,9 2 5
1 ,9 0 2
O t h e r t r a n s p o r t a t i o n ..........................................................................
4 2 ,2 4 5
4 8 ,2 0 8
3 ,7 8 9
3 ,8 2 6
3 ,7 8 8
3 ,9 5 8
4 ,0 7 3
4 ,0 3 8
4 ,0 7 4
3 ,9 8 5
4 ,1 8 7
4 ,0 3 4
4 ,0 0 4
4 ,1 0 0
4 ,1 4 1
4 ,0 8 2
R o y a l t i e s a n d l i c e n s e f e e s ............................................................
5 7 ,4 1 0
6 2 ,0 5 1
5 ,0 0 8
4 ,9 5 5
4 ,9 8 3
5 ,0 3 0
5 ,1 3 6
5 ,1 7 2
5 ,1 8 7
5 ,1 5 9
5 ,1 8 0
5 ,2 1 7
5 ,3 1 3
5 ,3 5 0
5 ,3 7 0
5 ,3 4 4
O t h e r p r i v a t e s e r v i c e s .....................................................................
1 5 8 ,2 2 3
1 7 7 ,2 8 4
1 4 ,0 4 3
1 3 ,9 4 7
1 4 ,0 2 0
1 4 ,2 0 8
1 4 ,3 9 9
1 4 ,7 6 8
1 4 ,8 3 0
1 4 ,7 7 6
1 4 ,8 7 3
1 5 ,0 0 4
1 5 ,4 0 7
1 5 ,4 9 5
1 5 ,5 5 6
1 5 ,6 2 2
2...........................................................................................
1 9 ,0 3 8
1 6 ,6 8 2
1 ,5 5 5
1 ,4 9 8
1 ,5 1 3
1 ,4 4 2
1 ,4 1 6
1 ,4 5 6
1 ,3 5 4
1 ,3 5 1
1 ,3 4 8
1 ,3 2 3
1 ,2 7 6
1 ,3 3 2
1 ,3 7 4
1 ,2 7 8
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s ......................
1 ,0 8 7
1 ,1 4 5
86
91
93
93
95
95
96
98
98
98
95
96
96
97
Imports of goods and services...................................
1,991,975 2,202,083
176,741
180,875
176,371
177,847
179,315
183,608
185,661
187,472
191,278
187,596
182,374
182,945
186,745
185,789
Goods.......................................................................
1,677,371 1,859,655
149,648
153,460
148,613
149,901
151,232
154,906
156,799
158,739
162,722
158,714
153,359
153,781
157,429
156,280
T r a n s f e r s u n d e r U .S . m il ita r y a g e n c y s a l e s
c o n tra c ts
F o o d s , f e e d s , a n d b e v e r a g e s ....................................................
6 8 ,0 9 4
7 4 ,9 4 0
5 ,9 6 4
6 ,1 8 0
5 ,9 2 9
6 ,3 3 1
6 ,1 8 5
6 ,0 3 5
5 ,9 9 7
6 ,2 3 5
6 ,4 4 0
6 ,3 3 8
6 ,4 6 6
6 ,3 6 4
6 ,4 3 9
6 ,5 7 9
I n d u s t r i a l s u p p l i e s a n d m a t e r i a l s ............................................
5 2 3 ,8 8 1
6 0 2 ,9 5 9
4 9 ,3 2 0
5 0 ,2 6 9
4 9 ,5 9 8
4 6 ,4 6 4
4 8 ,8 9 0
5 2 ,7 6 8
5 2 ,1 0 2
5 4 ,2 2 4
5 5 ,8 9 6
5 2 ,3 0 9
4 6 ,9 4 8
4 5 ,9 2 5
4 7 ,5 6 5
4 7 ,9 2 1
C a p i t a l g o o d s , e x c e p t a u t o m o t i v e .........................................
3 7 9 ,2 2 7
4 1 8 ,4 5 0
3 2 ,9 8 0
3 4 ,0 7 9
3 2 ,4 7 6
3 4 ,3 5 4
3 4 ,4 5 3
3 4 ,6 4 1
3 4 ,5 9 6
3 5 ,3 1 2
3 6 ,2 5 2
3 5 ,7 0 4
3 5 ,4 0 9
3 5 ,7 4 8
3 5 ,4 2 8
3 6 ,6 8 9
A u to m o ti v e v e h i c l e s , p a r t s , a n d e n g i n e s .........................
2 3 9 ,5 1 2
2 5 6 ,6 7 5
2 1 ,1 3 6
2 2 ,2 6 9
21,212
2 0 ,9 6 0
2 1 ,3 8 0
20,866
2 2 ,1 6 5
2 0 ,9 0 1
2 1 ,3 6 5
2 1 ,0 0 7
2 0 ,7 2 1
2 1 ,1 2 9
2 2 ,6 9 9
2 1 ,2 4 9
C o n s u m e r g o o d s ( n o n f o o d ), e x c e p t a u t o m o t i v e ........
4 0 7 ,1 6 8
4 4 2 ,7 5 5
3 5 ,2 3 3
3 5 ,1 4 6
3 4 ,3 2 3
3 6 ,5 1 6
3 5 ,3 2 1
3 5 ,5 2 9
3 6 ,6 7 6
3 6 ,7 8 8
3 7 ,3 5 3
3 8 ,0 0 2
3 8 ,1 7 5
3 9 ,1 5 4
3 9 ,7 7 3
3 8 ,3 9 4
O t h e r g o o d s ..............................................................................................
5 5 ,5 7 2
5 9 ,5 0 1
4 ,6 5 6
5 ,1 1 6
4 ,7 4 3
4 ,8 8 9
4 ,6 3 8
4 ,7 1 0
4 ,8 8 1
4 ,8 8 8
4 ,9 8 1
5 ,0 1 7
5 ,2 5 9
5 ,1 6 1
5 ,2 1 9
5 ,0 9 2
1.........................................................................................
3 ,9 1 6
4 ,3 7 5
360
401
332
388
365
357
381
392
437
336
382
299
305
Services....................................................................
314,604
342,428
27,093
27,758
27,946
28,083
28,702
A d ju s tm e n ts
27,415
28,862
28,733
28,556
28,882
29,015
29,164
356
29,316
29,509
6 ,2 5 5
6 ,2 8 3
6 9 ,1 7 5
7 3 ,2 9 9
5 ,7 7 6
5 ,8 9 6
5 ,6 9 4
6 ,0 7 2
6 ,1 6 4
6 ,3 1 7
6 ,1 8 6
6,211
6 ,0 2 4
P a s s e n g e r f a r e s ...................................................................................
2 6 ,0 6 6
2 7 ,3 0 6
2,211
2 ,2 1 5
2 ,2 1 4
2 ,3 2 4
2 ,2 5 2
2 ,3 3 0
2 ,3 7 0
2 ,2 4 0
2 ,1 8 1
2 ,2 5 0
2 ,2 7 3
2 ,3 1 5
2 ,3 4 2
2 ,3 5 2
O t h e r t r a n s p o r t a t i o n .........................................................................
6 2 ,1 0 7
6 5 ,6 1 1
5 ,3 8 0
5 ,5 0 9
5 ,2 8 3
5 ,4 0 4
5 ,3 4 0
5 ,5 2 3
5 ,4 7 8
5 ,5 2 1
5 ,5 4 3
5 ,5 4 1
5 ,5 3 3
5 ,5 2 8
5 ,4 0 8
5 ,4 4 6
R o y a l t i e s a n d l i c e n s e f e e s ...........................................................
2 4 ,5 0 1
2 6 ,5 2 3
2 ,1 3 3
2 ,0 3 9
2 ,6 5 7
2 ,0 6 8
2 ,0 9 8
2 ,1 0 9
2 ,3 3 0
2 ,2 2 3
2 ,1 5 4
2 ,1 7 4
2,210
2 ,2 2 6
2 ,2 3 5
2 ,2 2 5
O t h e r p r i v a t e s e r v i c e s .....................................................................
9 8 ,7 1 4
1 1 4 ,4 8 5
8 ,7 6 4
8 ,8 8 1
9 ,0 1 4
9 ,1 6 1
9 ,3 2 1
9 ,5 0 5
9 ,5 6 8
9 ,5 3 5
9 ,6 3 3
9 ,7 4 3
9 ,9 2 5
1 0 ,0 5 4
1 0 ,1 4 9
1 0 ,2 4 7
2..................................................
3 0 ,0 6 2
3 1 ,1 8 0
2 ,4 9 9
2 ,5 4 4
2 ,5 6 4
2 ,5 8 4
2 ,5 7 1
2 ,5 7 9
2 ,5 9 0
2 ,6 6 1
2 ,6 8 0
2 ,6 6 1
2 ,5 9 3
2 ,5 5 5
2 ,5 9 8
2 ,6 2 2
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s ......................
3 ,9 7 9
4 ,0 2 4
330
331
332
333
337
339
340
342
341
339
332
329
329
334
-8 3 5 ,9 6 6
- 7 0 ,2 1 9
- 7 2 ,3 1 8
- 6 7 ,8 0 8
- 6 9 ,6 6 2
-7 1 ,1 1 1
- 7 0 ,1 0 7
- 7 3 ,5 4 4
- 7 4 ,9 6 1
- 7 0 ,3 8 7
- 6 5 ,1 2 0
-6 4 ,7 7 2
- 6 8 ,0 5 6
- 6 5 ,4 3 1
T r a v e l .............................................................................................................
D ir e c t d e f e n s e e x p e n d i t u r e s
6 ,1 7 4
6 ,1 4 9
6 ,1 5 7
Memoranda:
B a l a n c e o n g o o d s ......................................................................................
- 7 8 2 ,7 4 0
-
68,122
B a l a n c e o n s e r v i c e s ................................................................................
66,011
7 0 ,6 9 9
6 ,0 4 5
5 ,8 4 8
5 ,2 1 0
5 ,5 4 2
6 ,0 6 4
5 ,7 7 1
5 ,4 1 2
5 ,6 6 2
6 ,0 4 6
5 ,7 8 4
6 ,1 9 4
6 ,5 5 8
6 ,6 0 3
6 ,3 1 3
B a l a n c e o n g o o d s a n d s e r v i c e s ....................................................
- 7 1 6 ,7 3 0
-7 6 5 ,2 6 7
- 6 4 ,1 7 4
- 6 6 ,4 7 0
- 6 2 ,9 1 2
- 6 2 ,2 6 6
- 6 3 ,5 9 8
- 6 5 ,3 4 0
- 6 4 ,6 9 5
- 6 7 ,8 8 2
- 6 8 ,9 1 5
- 6 4 ,6 0 3
- 5 8 ,9 2 6
- 5 8 ,2 1 4
- 6 1 ,4 5 3
- 5 9 ,1 1 8
p P r e lim in a r y
tio n s u s e d to p r e p a r e B E A ’s in te r n a ti o n a l a n d n a tio n a l a c c o u n ts ,
r R e v is e d
2 . C o n t a in s g o o d s th a t c a n n o t b e s e p a r a t e l y id e n tifie d .
1. R e f le c ts a d ju s tm e n ts n e c e s s a r y t o b r in g t h e C e n s u s B u r e a u ’s c o m p o n e n t d a t a in lin e w ith th e c o n c e p t s a n d d e fin iS o u r c e : U .S . B u r e a u o f E c o n o m ic A n a ly s is a n d U .S . B u r e a u o f t h e C e n s u s .
March 2007
Survey
of
D-59
C u r r e n t B u s in e s s
Table F.2 U.S. International Transactions
[M illio n s o f d o l l a r s ]
N o t s e a s o n a lly a d ju s te d
L in e
(C r e d its +, d e b its
-)1
2005
II
S e a s o n a lly a d ju s te d
2005
2006
2005
III
I
IV
II r
III »
II
2006
III
IV
II r
I
III p
Current account
1 Exports of goods and services and income receipts......................... 1,749,892
2
E x p o r t s o f g o o d s a n d s e r v i c e s .................................................................................................
1 ,2 7 5 ,2 4 5
3
G o o d s , b a l a n c e o f p a y m e n t s b a s i s 2............................................................................
8 9 4 ,6 3 1
4
S e r v i c e s 3............................................................................................................................................
3 8 0 ,6 1 4
5
T r a n s f e r s u n d e r U .S . m il ita r y a g e n c y s a l e s c o n t r a c t s 4...........................
1 9 ,0 3 8
6
T r a v e l .................................................................................................................................................
8 1 ,6 8 0
440,364
464,872
480,005
517,097
521,195
429,326
442,935
462,357
484,396
511,983
3 1 9 ,6 3 9
3 1 8 ,8 1 9
3 3 4 ,0 0 7
3 4 0 ,5 1 5
3 5 9 ,6 8 1
3 6 1 ,0 9 3
3 1 6 ,6 4 5
3 2 0 ,8 5 3
3 3 1 ,1 6 5
3 4 4 ,4 3 0
3 5 5 ,9 4 5
3 6 6 ,0 8 3
2 2 7 ,5 2 4
2 1 9 ,5 6 8
2 3 5 ,2 8 3
2 4 2 ,0 2 0
2 5 8 ,6 4 2
2 5 4 ,3 3 2
2 2 2 ,5 9 1
2 2 4 ,9 4 7
2 3 2 ,9 0 4
2 4 4 ,5 1 2
2 5 2 ,8 4 3
2 6 2 ,0 6 9
9 2 ,1 1 5
9 9 ,2 5 1
9 8 ,7 2 4
9 8 ,4 9 5
1 0 1 ,0 3 9
1 0 6 ,7 6 1
9 4 ,0 5 4
9 5 ,9 0 6
9 8 ,2 6 1
9 9 ,9 1 8
1 0 3 ,1 0 2
1 0 4 ,0 1 4
4 ,6 7 5
5 ,2 3 9
4 ,4 4 6
4 ,4 5 3
4 ,2 2 6
4 ,0 6 7
4 ,6 7 5
5 ,2 3 9
4 ,4 4 6
4 ,4 5 3
4 ,2 2 6
4 ,0 6 7
2 1 ,4 2 5
2 3 ,5 4 5
1 8 ,9 2 4
1 8 ,7 8 1
2 2 ,0 5 0
2 4 ,2 1 9
2 0 ,9 3 4
2 0 ,3 8 9
2 0 ,3 7 4
2 0 ,7 4 2
2 1 ,4 4 3
2 1 ,4 6 4
7
P a s s e n g e r f a r e s ......................................................................................................................
2 0 ,9 3 1
5 ,1 0 4
5 ,9 3 3
5 ,2 2 9
5 ,2 5 7
5 ,2 0 9
5 ,6 6 4
5 ,1 6 1
5 ,5 0 8
5 ,3 7 1
5 ,5 4 5
8
O t h e r t r a n s p o r t a t i o n .............................................................................................................
4 2 ,2 4 5
1 0 ,3 5 8
1 0 ,7 5 4
1 1 ,4 5 1
1 1 ,3 9 4
1 2 ,0 9 1
1 2 ,4 4 5
1 0 ,3 5 3
1 0 ,5 4 5
1 1 ,2 4 4
1 1 ,5 8 8
9
10
11
12
526,874
433,516
5 ,2 7 5
5 ,3 2 6
12,202
1 2 ,2 1 6
5..........................................................................................
5 7 ,4 1 0
1 3 ,7 4 2
1 3 ,9 5 8
1 6 ,0 9 2
1 4 ,6 3 2
1 5 ,3 0 2
1 4 ,9 9 3
1 3 ,9 4 3
1 4 ,3 9 7
1 4 ,9 2 3
1 5 ,0 4 0
1 5 ,5 6 7
1 5 ,5 0 9
O t h e r p r i v a t e s e r v i c e s 6.....................................................................................................
1 5 8 ,2 2 3
3 6 ,5 4 9
3 9 ,5 3 1
4 2 ,3 2 1
4 3 ,7 0 1
4 1 ,8 7 4
4 5 ,0 7 8
3 8 ,7 2 6
3 9 ,5 3 8
4 1 ,6 4 3
4 2 ,2 7 3
4 4 ,1 0 3
4 5 ,1 3 7
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s ..........................................................
1 ,0 8 7
262
291
260
277
286
295
262
291
260
277
286
295
I n c o m e r e c e i p t s .....................................................................................................................................
4 7 4 ,6 4 7
1 1 3 ,8 7 7
1 2 1 ,5 4 5
1 3 0 ,8 6 5
1 3 9 ,4 9 0
1 5 7 ,4 1 6
1 6 0 ,1 0 2
1 1 2 ,6 8 1
1 2 2 ,0 8 1
1 3 1 ,1 9 2
1 3 9 ,9 6 6
1 5 6 ,0 3 8
1 6 0 ,7 9 1
1 5 9 ,3 6 4
1 1 1 ,9 5 2
R o y a ltie s a n d lic e n s e f e e s
I n c o m e r e c e i p t s o n U . S . - o w n e d a s s e t s a b r o a d ...................................................
4 7 1 ,7 2 2
1 1 3 ,1 4 7
1 2 0 ,8 1 4
1 3 0 ,1 1 0
1 3 8 ,7 6 2
1 5 6 ,6 9 0
1 2 1 ,3 5 0
1 3 0 ,4 3 7
1 3 9 ,2 3 8
1 5 5 ,3 1 2
1 6 0 ,0 5 3
14
D ir e c t i n v e s t m e n t r e c e i p t s ...............................................................................................
2 5 1 ,3 7 0
6 1 ,9 0 6
6 3 ,8 8 9
6 7 ,1 4 8
6 8 ,1 9 5
7 6 ,4 2 9
7 5 ,1 8 2
6 0 ,5 7 2
6 4 ,4 7 6
6 7 ,4 8 1
6 8 ,7 3 8
7 4 ,9 2 3
7 5 ,9 1 2
15
O t h e r p r i v a t e r e c e i p t s ..........................................................................................................
2 1 7 ,6 3 7
5 0 ,6 7 4
5 6 ,2 4 7
6 2 ,2 7 9
6 9 ,9 2 3
7 9 ,7 5 9
8 3 ,5 1 5
5 0 ,6 7 4
5 6 ,2 4 7
6 2 ,2 7 9
6 9 ,9 2 3
7 9 ,7 5 9
8 3 ,5 1 5
16
U .S . G o v e r n m e n t r e c e i p t s ...............................................................................................
2 ,7 1 5
567
678
683
644
502
667
706
627
677
577
630
626
17
C o m p e n s a t i o n o f e m p l o y e e s ...............................................................................................
2 ,9 2 5
729
731
755
728
726
738
729
731
755
728
726
738
13
18
19
20
21
22
23
Imports of goods and services and income payments....................... -2,455,328 -606,110 -627,388 -662,406 -657,039 -715,048 -739,633 -599,390 -616,886 -659,290 -678,052 -707,254 -730,974
I m p o r t s o f g o o d s a n d s e r v i c e s ................................................................................................. - 1 , 9 9 1 , 9 7 5
- 4 9 4 ,6 2 9
- 5 1 2 ,6 4 5
- 5 3 0 ,2 9 5
- 5 1 4 ,6 3 1
- 5 5 6 ,0 6 6
- 5 7 4 ,5 6 6
- 4 8 8 ,7 0 3
- 5 0 2 ,6 4 5
- 5 2 5 ,9 3 9
- 5 3 5 ,5 7 0
- 5 4 9 ,0 5 9
- 5 6 6 ,4 0 1
2............................................................................
- 1 ,6 7 7 ,3 7 1
- 4 1 4 ,0 7 1
- 4 3 0 ,1 6 8
- 4 5 1 ,6 9 1
- 4 3 6 ,1 3 2
- 4 6 7 ,4 4 6
-4 8 4 ,9 2 2
- 4 1 0 ,8 1 1
- 4 2 3 ,6 9 3
- 4 4 5 ,4 1 0
- 4 5 2 ,4 8 1
- 4 6 3 ,4 4 1
- 4 8 0 ,6 8 1
3............................................................................................................................................
- 3 1 4 ,6 0 4
- 8 0 ,5 5 8
- 8 2 ,4 7 7
-7 8 ,6 0 4
- 7 8 ,4 9 9
- 8 8 ,6 2 0
- 8 9 ,6 4 4
- 7 7 ,8 9 2
- 7 8 ,9 5 2
-8 0 ,5 2 9
- 8 3 ,0 8 9
- 8 5 ,6 1 8
- 8 5 ,7 2 0
D ir e c t d e f e n s e e x p e n d i t u r e s ..........................................................................................
- 3 0 ,0 6 2
- 7 ,4 7 8
- 7 ,5 3 9
- 7 ,5 0 3
- 7 ,6 9 2
- 7 ,7 4 0
- 7 ,8 6 5
- 7 ,4 7 8
- 7 ,5 3 9
- 7 ,5 0 3
- 7 ,6 9 2
- 7 ,7 4 0
- 7 ,8 6 5
- 1 9 ,6 5 7
- 1 4 ,7 5 4
- 1 7 ,1 3 5
- 1 7 ,6 3 4
- 1 8 ,6 3 9
- 1 8 ,1 3 6
G o o d s, b a la n c e o f p a y m e n ts b a s is
S e r v ic e s
T r a v e l .................................................................................................................................................
- 6 9 ,1 7 5
- 1 9 ,9 0 4
- 1 5 ,0 7 1
-2 1 ,2 5 3
- 2 0 ,8 3 4
- 1 7 ,5 8 9
- 1 7 ,1 8 1
24
P a s s e n g e r f a r e s ......................................................................................................................
- 2 6 ,0 6 6
- 7 ,0 0 7
- 7 ,0 8 9
- 6 ,1 9 9
- 6 ,1 5 9
- 7 ,4 5 3
- 7 ,1 3 0
- 6 ,5 5 5
- 6 ,6 5 4
-6 ,6 4 4
- 6 ,7 4 9
-6 ,9 4 8
- 6 ,5 9 5
25
O t h e r t r a n s p o r t a t i o n .............................................................................................................
- 6 2 ,1 0 7
- 1 5 ,3 5 2
- 1 5 ,6 2 2
- 1 6 ,1 7 4
- 1 5 ,5 5 3
- 1 6 ,5 9 2
- 1 7 ,0 5 6
- 1 5 ,1 3 5
- 1 5 ,2 0 5
- 1 6 ,1 5 0
- 1 6 ,2 3 2
- 1 6 ,3 7 7
- 1 6 ,6 0 3
R o y a ltie s a n d lic e n s e f e e s
- 5 ,7 3 7
- 6 ,3 4 0
- 6 ,7 8 9
- 6 ,5 5 2
- 6 ,2 3 7
- 6 ,3 7 4
- 6 ,0 0 4
-6 ,3 5 6
-6 ,2 6 1
-6 ,7 4 1
- 6 ,5 1 3
- 6 ,3 8 3
O th e r p riv a te s e r v i c e s
5 ..........................................................................................
5 ....................................................................................................
-2 4 ,5 0 1
27
- 9 8 ,7 1 4
- 2 4 ,1 1 8
- 2 5 ,2 1 4
- 2 6 ,1 9 4
- 2 6 ,4 7 6
-2 8 ,3 2 9
- 2 9 ,3 6 6
- 2 4 ,1 6 9
-2 5 ,0 0 1
- 2 5 ,8 4 5
- 2 7 ,0 4 5
- 2 8 ,3 8 5
- 2 9 ,1 1 9
28
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s ..........................................................
- 3 ,9 7 9
-962
- 1 ,0 1 6
-991
-996
- 1 ,0 1 6
- 1 ,0 1 9
-962
- 1 ,0 1 6
-991
-996
- 1 ,0 1 6
- 1 ,0 1 9
29
I n c o m e p a y m e n t s ................................................................................................................................
- 4 6 3 ,3 5 3
- 1 1 1 ,4 8 1
- 1 1 4 ,7 4 2
- 1 3 2 ,1 1 1
- 1 4 2 ,4 0 8
- 1 5 8 ,9 8 2
- 1 6 5 ,0 6 7
- 1 1 0 ,6 8 7
- 1 1 4 ,2 4 0
- 1 3 3 ,3 5 1
- 1 4 2 ,4 8 2
- 1 5 8 ,1 9 5
- 1 6 4 ,5 7 3
30
26
I n c o m e p a y m e n t s o n f o r e i g n - o w n e d a s s e t s in t h e U n ite d S t a t e s ..........
- 4 5 4 ,1 2 4
- 1 0 9 ,2 9 9
- 1 1 2 ,3 9 7
- 1 2 9 ,6 1 1
- 1 4 0 ,1 2 6
-1 5 6 ,7 3 6
- 1 6 2 ,7 2 0
- 1 0 8 ,4 0 3
- 1 1 1 ,8 8 7
- 1 3 1 ,0 1 8
- 1 4 0 ,1 3 2
- 1 5 5 ,8 4 6
- 1 6 2 ,2 1 7
31
D ir e c t i n v e s t m e n t p a y m e n t s ..........................................................................................
- 1 1 6 ,9 5 3
- 3 0 ,4 1 6
- 2 4 ,6 1 5
- 3 3 ,4 3 2
- 3 4 ,4 3 7
- 3 7 ,7 5 6
- 4 0 ,6 0 9
- 2 9 ,5 2 0
- 2 4 ,1 0 5
- 3 4 ,8 3 9
- 3 4 ,4 4 3
- 3 6 ,8 6 6
- 4 0 ,1 0 6
32
O t h e r p r i v a t e p a y m e n t s .....................................................................................................
- 2 2 3 ,6 1 2
- 5 1 ,4 9 0
- 5 8 ,4 7 9
- 6 4 ,8 5 7
- 7 2 ,8 1 3
-8 2 ,5 3 9
- 8 4 ,8 0 1
- 5 1 ,4 9 0
- 5 8 ,4 7 9
- 6 4 ,8 5 7
- 7 2 ,8 1 3
- 8 2 ,5 3 9
-8 4 ,8 0 1
33
U .S . G o v e r n m e n t p a y m e n t s ..........................................................................................
- 1 1 3 ,5 5 9
- 2 7 ,3 9 3
- 2 9 ,3 0 3
- 3 1 ,3 2 2
- 3 2 ,8 7 6
- 3 6 ,4 4 1
- 3 7 ,3 1 0
- 2 7 ,3 9 3
- 2 9 ,3 0 3
- 3 1 ,3 2 2
- 3 2 ,8 7 6
-3 6 ,4 4 1
- 3 7 ,3 1 0
34
C o m p e n s a t i o n o f e m p l o y e e s ...............................................................................................
- 9 ,2 2 9
- 2 ,1 8 2
- 2 ,3 4 5
- 2 ,5 0 0
- 2 ,2 8 2
- 2 ,2 4 6
- 2 ,3 4 7
- 2 ,2 8 4
- 2 ,3 5 3
-2 ,3 3 3
- 2 ,3 5 0
- 2 ,3 4 9
- 2 ,3 5 6
35
Unilateral current transfers, net............................................................
-86,072
-22,509
-10,140
-25,927
-20,323
-20,805
-21,524
-23,194
-9,464
-26,176
-19,542
-21,856
-21,450
36
U .S . G o v e r n m e n t g r a n t s 4...........................................................................................................
- 5 ,7 8 0
- 7 ,2 7 0
- 5 ,7 8 0
-7 ,2 7 0
37
U .S . G o v e r n m e n t p e n s i o n s a n d o t h e r t r a n s f e r s ........................................................
- 6 ,3 0 3
-1 ,4 5 1
-1 ,9 0 9
- 1 ,8 7 2
- 1 ,7 4 0
- 1 ,2 7 7
- 1 ,4 2 6
- 1 ,5 6 9
- 1 ,5 8 4
- 1 ,5 9 2
- 1 ,7 4 2
- 1 ,7 5 5
- 1 ,7 1 0
38
P r i v a t e r e m i t t a n c e s a n d o t h e r t r a n s f e r s 6.......................................................................
- 4 8 ,4 0 7
- 1 5 ,2 7 8
-961
-1 4 ,9 6 4
- 1 3 ,9 5 2
- 1 4 ,1 8 7
-1 4 ,5 6 9
- 1 5 ,8 4 5
-610
- 1 5 ,4 9 3
- 1 3 ,1 6 9
- 1 4 ,7 6 0
-1 4 ,2 1 1
-4,351
-589
-1,003
-551
-589
-557
-514
- 3 1 ,3 6 2
-9 ,0 9 1
-4 ,6 3 1
-5 ,3 4 1
- 5 ,5 2 9
- 9 ,0 9 1
-4 ,6 3 1
-5 ,3 4 1
- 5 ,5 2 9
Capital and financial account
Capital account
39
Capital account transactions, net.........................................................
-557
-514
-1,756
-1,756
-1,003
-551
Financial account
40
U.S.-owned assets abroad, net (increase/financial outflow (-))..........
41
U .S . o f fic ia l r e s e r v e a s s e t s , n e t ...............................................................................................
-426,801 -201,345 -138,434
3,708 -361,910 -215,352 -227,937 -196,376 -132,380
-10,656 -355,978 -211,375 -223,769
1 4 ,0 9 6
-797
4 ,7 6 6
4 ,7 9 6
513
-560
1 ,0 0 6
-797
4 ,7 6 6
4 ,7 9 6
513
-560
4 ,5 1 1
-97
2 ,9 7 6
-81
-67
-51
-5 4
-97
2 ,9 7 6
-81
-67
-51
1 ,0 0 6
-5 4
10,200
-564
1 ,9 5 1
5 ,0 5 0
729
-351
1 ,2 7 5
-564
1 ,9 5 1
5 ,0 5 0
729
-351
1 ,2 7 5
-215
4?
43
S p e c i a l d r a w i n g r i g h t s ...........
44
R e s e r v e p o s i t i o n in t h e I n t e r n a t i o n a l M o n e t a r y F u n d ....................................
45
F o r e i g n c u r r e n c i e s ........................................................................................................................
-615
-136
-161
-173
-149
-158
-215
-136
-161
-173
-149
-158
46
U .S . G o v e r n m e n t a s s e t s , o t h e r t h a n o ffic ia l r e s e r v e a s s e t s , n e t .................
5 ,5 3 9
989
1 ,5 0 1
459
1 ,0 4 9
1 ,7 6 5
287
989
1 ,5 0 1
459
1 ,0 4 9
1 ,7 6 5
287
-376
-575
-708
-518
-509
-1 ,5 1 7
-376
-575
2 ,1 4 7
871
1 ,5 8 6
1 ,9 5 7
977
2 ,5 5 8
2 ,1 4 7
871
47
U .S . c r e d i t s a n d o t h e r lo n g - t e r m a s s e t s ....................................................................
- 2 ,2 5 5
-708
-518
-509
-1 ,5 1 7
48
R e p a y m e n t s o n U .S . c r e d i t s a n d o t h e r l o n g - t e r m a s s e t s
8........................
5 ,6 0 3
1 ,5 8 6
1 ,9 5 7
977
2 ,5 5 8
U .S . f o r e i g n c u r r e n c y h o l d i n g s a n d U .S . s h o r t - t e r m a s s e t s , n e t .............
2 ,1 9 1
62
-9
-6
-9
111
62
-9
-6
-9
50
U .S . p r i v a t e a s s e t s , n e t ...................................................................................................................
- 4 4 6 ,4 3 6
- 2 0 1 ,5 3 7
- 3 6 3 ,4 7 2
- 2 1 6 ,5 5 7
- 2 2 5 ,0 6 2
4 0 ,1 6 3
- 6 7 ,1 8 3
- 5 0 ,7 4 6
3 0 ,3 4 2
-1 5 ,9 1 1
2 5 ,7 9 9
- 2 1 2 ,5 8 0
- 3 8 ,9 2 6
- 1 9 6 ,5 6 8
- 3 3 ,9 5 7
- 3 5 7 ,5 4 0
- 9 ,0 7 2
-2 2 9 ,2 3 0
- 6 7 ,2 3 1
- 1 3 8 ,6 4 7
D ir e c t i n v e s t m e n t ...........................................................................................................................
- 1 4 4 ,7 0 1
2 4 ,2 8 8
- 1 ,5 4 7
51
- 6 1 ,2 5 1
- 4 6 ,7 6 9
- 6 3 ,0 6 3
52
F o r e ig n s e c u r i t i e s .........................................................................................................................
53
U .S . c l a i m s o n u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g
49
111
8
8
- 1 8 0 ,1 2 5
- 4 5 ,7 0 2
- 3 6 ,7 9 0
- 4 7 ,2 6 6
- 5 3 ,6 9 2
- 5 3 ,9 1 5
- 5 3 ,0 3 4
- 4 5 ,7 0 2
- 3 6 ,7 9 0
- 4 7 ,2 6 6
- 5 3 ,6 9 2
- 5 3 ,9 1 5
- 5 3 ,0 3 4
c o n c e r n s .........................................................................................................................................
- 4 4 ,2 2 1
5 7 ,2 4 4
- 2 9 ,4 8 3
- 4 ,8 1 2
- 4 6 ,1 9 0
- 3 1 ,1 9 9
- 2 3 ,3 0 2
5 7 ,2 4 4
- 2 9 ,4 8 3
- 4 ,8 1 2
- 4 6 ,1 9 0
- 3 1 ,1 9 9
- 2 3 ,3 0 2
54
U .S . c l a i m s r e p o r t e d b y U .S . b a n k s , n o t in c l u d e d e l s e w h e r e ...................
- 2 1 3 ,0 1 8
- 1 7 4 ,1 5 3
- 1 0 2 ,7 1 6
1 0 ,3 6 8
- 1 9 6 ,4 0 7
-8 0 ,6 9 7
- 8 5 ,6 6 3
- 1 7 4 ,1 5 3
- 1 0 2 ,7 1 6
1 0 ,3 6 8
- 1 9 6 ,4 0 7
- 8 0 ,6 9 7
- 8 5 ,6 6 3
55
Foreign-owned assets in the United States, net (increase/financial
inflow (+))...........................................................................................
400,161
253,350
527,498
364,576
F o r e i g n o f fic ia l a s s e t s in t h e U n ite d S t a t e s , n e t ........................................................
1 9 9 ,4 9 5
7 4 ,6 1 3
3 3 ,9 8 3
7 1 ,9 3 4
7 5 ,6 9 7
7 5 ,8 6 9
8 0 ,7 7 5
7 4 ,6 1 3
3 3 ,9 8 3
7 1 ,9 3 4
7 5 ,6 9 7
7 5 ,8 6 9
8 0 ,7 7 5
57
U .S . G o v e r n m e n t s e c u r i t i e s ..................................................................................................
3 6 ,3 1 3
2 5 ,9 2 6
6 1 ,2 0 4
6 6 ,2 1 9
2 1 ,5 5 3
8 0 ,1 3 7
3 6 ,3 1 3
2 5 ,9 2 6
6 1 ,2 0 4
6 6 ,2 1 9
2 1 ,5 5 3
8 0 ,1 3 7
9.................................................................................................
1 5 6 ,4 5 0
7 1 ,7 4 9
1 6 ,8 9 2
8 ,2 1 3
3 7 ,4 1 8
4 2 ,1 5 6
- 8 ,9 0 5
4 7 ,2 2 5
1 6 ,8 9 2
8 ,2 1 3
3 7 ,4 1 8
4 2 ,1 5 6
- 8 ,9 0 5
4 7 ,2 2 5
O t h e r 10...........................................................................................................................................
8 4 ,7 0 1
1 9 ,4 2 1
1 7 ,7 1 3
2 3 ,7 8 6
2 4 ,0 6 3
3 0 ,4 5 8
3 2 ,9 1 2
1 9 ,4 2 1
1 7 ,7 1 3
2 3 ,7 8 6
2 4 ,0 6 3
3 0 ,4 5 8
3 2 ,9 1 2
11..............................................................................
-488
395
-255
37
724
1 ,0 7 3
395
-255
37
724
1 ,0 7 3
59
60
U .S . T r e a s u r y s e c u r i t i e s
O t h e r U .S . G o v e r n m e n t lia b ili tie s
112
390,846
248,558
528,026
367,143
404,417
346,179
388,592
56
58
1,212,250
348,132
112
2 4 ,2 7 5
3 4 ,1 8 7
824
5 ,0 7 8
-821
4 2 ,2 4 1
- 7 ,2 0 7
3 4 ,1 8 7
824
5 ,0 7 8
-821
4 2 ,2 4 1
- 7 ,2 0 7
12............................................................................................
1 9 ,2 5 8
4 ,0 0 1
6 ,8 3 8
5 ,9 0 7
1 0 ,2 6 2
1 1 ,3 5 1
6 ,7 7 2
4 ,0 0 1
6 ,8 3 8
5 ,9 0 7
1 0 ,2 6 2
1 1 ,3 5 1
6 ,7 7 2
3 1 9 ,3 8 6
61
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e
62
O t h e r f o r e ig n o f fic ia l a s s e t s
63
O t h e r f o r e ig n a s s e t s in t h e U n ite d S t a t e s , n e t .............................................................
1 ,0 1 2 ,7 5 5
2 7 3 ,5 1 9
3 5 6 ,8 6 3
1 7 6 ,6 2 4
4 5 2 ,3 2 9
2 9 1 ,2 7 4
3 2 3 ,6 4 2
2 7 1 ,5 6 6
3 5 4 ,6 0 9
1 8 1 ,4 1 6
4 5 1 ,8 0 1
2 8 8 ,7 0 7
64
D ir e c t i n v e s t m e n t ...........................................................................................................................
1 0 9 ,7 5 4
1 0 ,1 9 8
4 6 ,7 1 3
2 1 ,7 1 8
4 5 ,7 9 6
4 8 ,4 1 0
4 8 ,3 4 6
8 ,2 4 5
4 4 ,4 5 9
2 6 ,5 1 0
4 5 ,2 6 8
4 5 ,8 4 3
65
U .S . T r e a s u r y s e c u r i t i e s ............................................................................................................
1 9 9 ,4 9 1
1 4 ,1 0 3
3 7 ,2 3 9
6 2 ,0 4 1
- 5 ,2 1 2
9 ,7 8 4
- 7 ,2 0 2
1 4 ,1 0 3
3 7 ,2 3 9
6 2 ,0 4 1
- 5 ,2 1 2
9 ,7 8 4
- 7 ,2 0 2
66
U .S . s e c u r i t i e s o t h e r t h a n U .S . T r e a s u r y s e c u r i t i e s ..........................................
4 7 4 ,1 4 0
1 1 1 ,8 0 8
1 5 3 ,0 4 9
1 3 1 ,8 7 1
1 8 6 ,0 0 9
1 2 7 ,2 8 5
1 3 8 ,7 5 7
1 1 1 ,8 0 8
1 5 3 ,0 4 9
1 3 1 ,8 7 1
1 8 6 ,0 0 9
1 2 7 ,2 8 5
1 3 8 ,7 5 7
67
U .S . c u r r e n c y ....................................................................................................................................
68
U .S . lia b ili tie s t o u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g
c o n c e r n s .........................................................................................................................................
69
70
70a
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t in c l u d e d e l s e w h e r e
Statistical discrepancy (sum of above items with sign reversed)
Ofwhich:
4 4 ,0 9 0
1 9 ,4 1 6
4 ,5 0 7
4 ,6 7 9
9 ,1 5 8
1 ,9 3 2
1 ,1 2 7
1 ,1 2 9
4 ,5 0 7
4 ,6 7 9
9 ,1 5 8
1 ,9 3 2
1 ,1 2 7
1 ,1 2 9
3 0 ,1 0 5
- 2 0 ,0 3 5
2 0 ,2 7 1
- 5 0 ,3 0 5
7 4 ,9 5 3
2 5 ,0 8 2
5 3 ,4 9 6
- 2 0 ,0 3 5
2 0 ,2 7 1
- 5 0 ,3 0 5
7 4 ,9 5 3
2 5 ,0 8 2
5 3 ,4 9 6
1 7 9 ,8 4 9
1 5 2 ,9 3 8
9 4 ,9 1 2
2 ,1 4 1
1 4 8 ,8 5 1
7 9 ,5 8 6
8 9 ,1 1 6
1 5 2 ,9 3 8
9 4 ,9 1 2
2 ,1 4 1
1 4 8 ,8 5 1
48,905
-54,691
-28,291
67,968
64,033
44,044
-72,240
-19,071
10,410
32,997
S e a s o n a l a d j u s t m e n t d i s c r e p a n c y ................................................................
-4 ,8 6 2
- 1 7 ,5 4 9
9 ,2 1 9
43,434
7 9 ,5 8 6
64,929
8 9 ,1 1 6
49,709
1 0 ,4 3 7
- 3 ,0 4 0
- 1 4 ,3 2 4
- 2 0 7 ,9 6 9
- 2 1 0 ,5 9 8
- 2 1 8 ,6 1 2
Memoranda:
71
B a l a n c e o n g o o d s ( l i n e s 3 a n d 2 0 ) .............................................................................................
-7 8 2 ,7 4 0
- 1 8 6 ,5 4 7
- 2 1 0 ,6 0 0
- 2 1 6 ,4 0 8
-1 9 4 ,1 1 2
- 2 0 8 ,8 0 4
- 2 3 0 , 59C
- 1 8 8 ,2 2 0
- 1 9 8 ,7 4 6
-2 1 2 ,5 0 6
72
B a l a n c e o n s e r v i c e s ( l i n e s 4 a n d 2 1 ) .......................................................................................
66,011
1 1 ,5 5 7
1 6 ,7 7 3
2 0 , 1 2C
1 9 ,9 9 6
1 2 ,4 1 9
1 7 ,1 1 7
1 6 ,1 6 2
1 6 ,9 5 4
1 7 ,7 3 3
1 6 ,8 2 9
1 7 ,4 8 4
1 8 ,2 9 4
73
B a l a n c e o n g o o d s a n d s e r v i c e s ( l i n e s 2 a n d 1 9 ) .............................................................
- 7 1 6 , 73C
- 1 7 4 ,9 9 0
- 1 9 3 ,8 2 7
- 1 9 6 ,2 8 8
- 1 7 4 ,1 1 6
- 1 9 6 ,3 8 5
- 2 1 3 ,4 7 3
- 1 7 2 ,0 5 8
- 1 8 1 ,7 9 2
- 1 9 4 ,7 7 4
- 1 9 1 , 14 C
- 1 9 3 ,1 1 4
- 2 0 0 ,3 1 8
74
B a l a n c e o n i n c o m e ( l i n e s 1 2 a n d 2 9 ) .......................................................................................
75
U n ila te r a l c u r r e n t t r a n s f e r s , n e t (l i n e 3 5 ) ................................................................................
76
B a la n c e o n c u rr e n t a c c o u n t (lin e s 1 , 1 8 , a n d 3 5 o r lin e s 7 3 , 7 4 , a n d 7 5
p P re lim in a ry
r R e v is e d
S e e f o o tn o te s o n p a g e D - 6 3
) 13
1 1 ,2 9 3
2 ,3 9 6
6 ,8 0 3
- 1 ,2 4 6
- 2 ,9 1 8
- 1 ,5 6 6
- 4 ,9 6 5
1 ,9 9 4
7 ,8 4 1
- 2 ,1 5 9
- 2 ,5 1 6
- 2 ,1 5 7
- 3 ,7 8 2
- 8 6 ,0 7 2
- 2 2 ,5 0 8
- 1 0 .1 4 C
- 2 5 ,9 2 7
- 2 0 ,3 2 3
- 2 0 ,8 0 5
- 2 1 ,5 2 4
-2 3 ,1 9 4
- 9 ,4 6 4
- 2 6 ,1 7 6
- 1 9 ,5 4 2
- 2 1 ,8 5 6
- 2 1 ,4 5 0
- 7 9 1 ,5 0 8
- 1 9 5 ,1 0 3
- 1 9 7 ,1 6 4
- 2 2 3 ,4 6 1
- 1 9 7 ,3 5 7
- 2 1 8 ,7 5 6
- 2 3 9 ,9 6 2
- 1 9 3 ,2 5 8
- 1 8 3 ,4 1 5
- 2 2 3 ,1 0 9
- 2 1 3 ,1 9 8
- 2 1 7 ,1 2 7
- 2 2 5 ,5 5 0
S o u r c e : T a b le 1 in “U .S . I n te r n a tio n a l T r a n s a c tio n s : T h ird Q u a r t e r o f 2 0 0 6 ” in t h e J a n u a r y 2 0 0 7 Survey o f C u r r e n t Busi
ness.
D-60
International Data
March 2007
Table F.3. U.S. International Transactions, by Area— Continues
[Millions of dollars]
E u ro p e
L in e
(C re d its + , d e b its
E u r o p e a n U n io n
-)1
2006:11r
2 0 0 6 : lll p
2006:11'
14
E u ro a re a
2 0 0 6 : lll e
2006:11'
U n ite d K in g d o m
20 0 6 : 1 1 1 e
2 0 0 6 : ll'
2 0 0 6 : lll p
Current account
1 Exports of goods and services and income receipts.............................................
2
E x p o r t s o f g o o d s a n d s e r v i c e s ..............................................................................................................................
G o o d s , b a l a n c e o f p a y m e n t s b a s i s 2..........................................................................................................
3
4
S e r v i c e s 3 ..........................................................................................................................................................................
T r a n s f e r s u n d e r U .S . m il ita r y a g e n c y s a l e s c o n t r a c t s 4..........................................................
5
6
T r a v e l................................................................................................................................................................................
174,988
176,628
151,992
154,123
94,614
94,562
47,939
49,999
1 0 1 ,9 0 0
1 0 1 ,5 4 0
8 8 ,5 8 6
8 8 ,3 1 0
5 8 ,3 7 0
5 8 ,0 7 7
2 3 ,8 1 4
2 3 ,9 6 1
6 2 ,2 9 7
5 8 ,7 2 0
5 4 ,4 3 6
5 1 ,0 9 9
3 9 ,1 7 1
3 7 ,2 4 4
1 1 ,9 0 9
1 0 ,9 1 7
3 9 ,6 0 3
4 2 ,8 2 0
3 4 ,1 5 0
3 7 ,2 1 1
1 9 ,1 9 9
2 0 ,8 3 3
1 1 ,9 0 5
1 3 ,0 4 4
685
1 ,0 0 4
428
687
291
340
57
69
7 ,0 2 9
8 ,2 4 8
6 ,4 5 0
7 ,6 4 7
3 ,0 9 1
4 ,0 6 1
2 ,7 7 5
3 ,0 8 2
1 ,8 2 2
799
1 ,0 5 7
7
P assen g er fares.
1 ,9 9 3
1 ,4 9 4
644
747
8
O t h e r t r a n s p o r t a t i o n ............................................................................................................................................
4 ,6 0 5
4 ,6 4 8
4 ,1 1 3
4 ,1 4 7
2 ,3 8 1
2 ,3 9 4
1 ,0 4 5
1 ,0 7 9
9
R o y a ltie s a n d lic e n s e f e e s
5..........................................................................................................................
7 ,4 7 8
7 ,6 3 7
5 ,8 8 8
6 ,0 7 5
4 ,1 7 5
4 ,2 6 4
1 ,2 8 0
1 ,3 8 8
O t h e r p r i v a t e s e r v i c e s 5 ...................................................................................................................................
1 8 ,0 8 7
1 9 ,2 0 6
1 5 ,7 2 0
1 6 ,7 6 5
8 ,4 3 1
8 ,6 7 9
6 ,0 8 2
6 ,6 5 3
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s .......................................................................................
73
84
57
31
38
I n c o m e r e c e i p t s ....................................................................................................................................................................
7 3 ,0 8 8
7 5 ,0 8 8
6 3 ,4 0 6
6 5 ,8 1 3
3 6 ,2 4 4
3 6 ,4 8 5
2 4 ,1 2 5
2 6 ,0 3 8
I n c o m e r e c e i p t s o n U .S .- o w n e d a s s e t s a b r o a d .................................................................................
7 2 ,9 9 5
7 4 ,9 9 4
6 3 ,3 2 4
6 5 ,7 3 0
3 6 ,1 9 9
3 6 ,4 4 0
2 4 ,1 0 1
2 6 ,0 1 3
10
11
12
13
1 ,6 4 6
68
22
26
14
D ir e c t i n v e s t m e n t r e c e i p t s ..............................................................................................................................
3 3 ,8 6 4
3 3 ,5 6 0
2 8 ,8 8 2
2 8 ,5 6 6
2 1 ,3 5 4
2 0 ,6 5 4
6 ,1 6 6
6 ,5 5 9
15
O t h e r p r i v a t e r e c e i p t s ........................................................................................................................................
3 8 ,9 6 5
4 1 ,1 0 5
3 4 ,2 8 8
3 6 ,9 3 8
1 4 ,6 9 1
1 5 ,5 6 2
1 7 ,9 3 5
1 9 ,4 5 4
16
U .S . G o v e r n m e n t r e c e i p t s ...............................................................................................................................
166
329
154
226
154
224
17
C o m p e n s a t i o n o f e m p l o y e e s ..............................................................................................................................
93
94
82
83
45
45
24
25
18
Imports of goods and services and income payments..........................................
-217,194
-217,312
-189,452
-190,284
-120,592
-121,254
-55,637
-56,287
19
I m p o r t s o f g o o d s a n d s e r v i c e s ................................................................................................................................
-1 3 8 ,7 2 5
- 1 3 7 ,6 2 8
- 1 1 8 ,7 5 0
- 1 1 7 ,5 2 2
- 8 3 ,4 5 0
- 8 3 ,3 3 5
- 2 4 ,4 3 3
- 2 3 ,8 8 4
2..........................................................................................................
- 9 8 ,8 3 9
- 9 7 ,4 9 9
- 8 4 ,5 9 9
- 8 2 ,9 5 5
-6 2 ,7 2 1
- 6 1 ,9 9 8
- 1 3 ,9 2 9
- 1 3 ,4 7 4
- 1 0 ,4 1 0
20
21
22
G o o d s, b a la n c e o f p a y m e n ts b a s is
3..........................................................................................................................................................................
-3 9 ,8 8 6
- 4 0 ,1 2 9
-3 4 ,1 5 1
-3 4 ,5 6 7
- 2 0 ,7 2 9
- 2 1 ,3 3 7
- 1 0 ,5 0 4
D ir e c t d e f e n s e e x p e n d i t u r e s ........................................................................................................................
- 2 ,8 5 9
- 2 ,9 3 5
- 2 ,5 2 5
- 2 ,6 0 0
- 2 ,0 7 5
- 2 ,1 0 5
-355
T r a v e l................................................................................................................................................................................
- 8 ,0 8 9
- 7 ,6 2 6
- 7 ,2 4 9
- 6 ,9 1 9
- 4 ,6 4 3
-4 ,4 0 9
-2 ,1 7 3
S e r v ic e s
23
-355
-
2,122
24
P a s s e n g e r f a r e s ......................................................................................................................................................
- 4 ,0 2 8
- 3 ,8 4 8
- 3 ,7 9 8
- 3 ,5 9 0
- 2 ,1 0 3
- 2 ,1 2 3
- 1 ,4 9 0
- 1 ,2 3 8
25
O t h e r t r a n s p o r t a t i o n ............................................................................................................................................
- 6 ,3 6 0
- 6 ,5 2 8
- 5 ,5 4 2
- 5 ,6 8 0
- 3 ,1 5 9
-3 ,2 8 1
- 1 ,1 6 3
- 1 ,2 3 9
26
R o y a ltie s a n d lic e n s e f e e s
5..........................................................................................................................
- 3 ,8 2 6
- 4 ,0 1 2
-2 ,6 5 6
- 3 ,0 0 0
- 1 ,9 2 8
- 2 ,2 9 3
-371
-389
-5 ,0 1 1
27
O th e r p riv a te s e r v i c e s
6...................................................................................................................................
-1 4 ,2 2 8
- 1 4 ,6 8 2
- 1 2 ,0 0 8
-1 2 ,4 0 3
- 6 ,5 1 8
- 6 ,8 2 1
- 4 ,8 9 6
28
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s .......................................................................................
-496
-498
-373
-375
-303
-305
-56
-56
29
I n c o m e p a y m e n t s ................................................................................................................................................................
- 7 8 ,4 6 9
- 7 9 ,6 8 4
- 7 0 ,7 0 2
- 7 2 ,7 6 2
- 3 7 ,1 4 2
- 3 7 ,9 1 9
- 3 1 ,2 0 4
-3 2 ,4 0 3
30
I n c o m e p a y m e n t s o n f o r e i g n - o w n e d a s s e t s in t h e U n i t e d S t a t e s .......................................
-7 8 ,3 3 6
- 7 9 ,5 6 0
- 7 0 ,5 9 2
-7 2 ,6 5 8
- 3 7 ,0 5 9
- 3 7 ,8 3 8
- 3 1 ,1 8 2
- 3 2 ,3 8 2
31
D ir e c t i n v e s t m e n t p a y m e n t s ..........................................................................................................................
- 2 4 ,4 8 9
- 2 6 ,5 9 0
- 2 3 ,9 4 0
- 2 5 ,4 1 5
- 1 4 ,4 7 9
- 1 5 ,5 7 6
- 8 ,5 0 6
-8 ,7 8 1
32
O th e r p r iv a te p a y m e n ts ..
- 4 6 ,1 3 5
- 4 5 ,4 6 5
- 4 0 ,2 2 6
- 4 1 ,0 4 9
- 1 8 ,4 3 5
- 1 8 ,1 8 6
- 2 1 ,0 5 8
-2 2 ,1 3 2
33
U .S . G o v e r n m e n t p a y m e n t s
- 7 ,7 1 2
- 7 ,5 0 5
- 6 ,4 2 6
- 6 ,1 9 4
- 4 ,1 4 5
- 4 ,0 7 6
-1 ,6 1 8
- 1 ,4 6 9
-81
34
C o m p e n s a tio n o f e m p lo y e e s
-133
-124
-110
-104
-8 3
35
Unilateral current transfers, net
-3,434
-3,271
-2,813
-2,271
-2,051
-22
-22
-1,870
-21
215
402
3fi
U .S . G o v e r n m e n t g r a n t s
4...........................................................................................................................................
-493
-648
37
U .S . G o v e r n m e n t p e n s i o n s a n d o t h e r t r a n s f e r s .......................................................................................
-430
-416
-398
-387
-286
-285
-67
-66
38
P r iv a te r e m i tta n c e s a n d o th e r tr a n s f e r s
6 .....................................................................................................
- 2 ,5 1 1
- 2 ,2 0 7
- 2 ,3 9 3
- 1 ,8 5 6
- 1 ,7 6 5
-1 ,5 8 5
282
468
-208
-218
-119
-124
-80
-82
-13
-14
-99,065
-208,387
-145,233
-181,001
-65,631
-50,061
-79,532
-119,578
-202
-118
-167
-118
-167
-118
-167
-1
-1
-2 8
Capital and financial account
Capital account
39
Capital account transactions, n e t............................................................................
Financial account
40
U.S.-owned assets abroad, net (increase/financial outflow ( -) ) .............................
41
U .S . o ffic ia l r e s e r v e a s s e t s , n e t ...............................................................................................................................
4?
G o ld
-148
7.....................................................................................................................................................................................
43
44
-202
-11 8
-167
U .S . G o v e r n m e n t a s s e t s , o t h e r t h a n o f fic ia l r e s e r v e a s s e t s , n e t ...............................................
214
155
213
75
47
U .S . c r e d i t s a n d o t h e r l o n g - t e r m a s s e t s ....................................................................................................
-136
-113
-112
-103
48
R e p a y m e n t s o n U .S . c r e d i t s a n d o t h e r l o n g - t e r m a s s e t s
8.......................................................
342
270
179
-1
203
9
35
-2
316
9
50
U .S . p r i v a t e a s s e t s , n e t .................................................................................................................................................
-9 9 ,1 3 1
-2 0 8 ,3 4 0
- 1 4 5 ,3 2 8
- 1 8 0 ,9 0 9
- 6 5 ,7 2 5
- 4 9 ,9 2 9
51
45
46
-148
8
49
212
35
-1
- 7 9 ,5 3 1
-1
- 1 1 9 ,5 7 7
D i r e c t i n v e s t m e n t .........................................................................................................................................................
-2 1 ,4 9 6
- 3 2 ,3 3 1
- 1 8 ,5 7 9
- 2 7 ,6 2 6
- 1 3 ,0 0 9
- 2 0 ,6 1 8
- 4 ,0 6 7
- 5 ,4 1 3
52
F o r e i g n s e c u r i t i e s .........................................................................................................................................................
- 5 4 ,5 8 9
- 5 4 ,1 2 3
- 5 1 ,8 7 3
- 5 6 ,9 6 2
- 1 7 ,1 7 9
- 1 0 ,7 2 9
- 3 4 ,9 6 5
- 4 5 ,4 7 6
53
U .S . c l a i m s o n u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g c o n c e r n s ........
- 3 4 ,7 4 3
- 4 5 ,9 2 7
- 3 6 ,2 1 4
-4 5 ,4 1 8
- 1 4 ,0 6 4
- 2 5 ,4 7 4
- 3 9 ,6 6 2
- 3 8 ,6 6 2
-5 0 ,9 0 3
- 2 1 ,4 7 3
- 1 5 ,0 2 5
- 2 9 ,0 2 6
108,893
135,335
31,893
50,506
(18)
(18 )
(18 )
(18)
54
U .S . c l a i m s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e ..................................................
1 1 ,6 9 7
- 7 5 ,9 5 9
55
Foreign-owned assets in the United States, net (increase/financial inflow (+))....
82,063
87,868
56
F o r e i g n o f fic ia l a s s e t s in t h e U n i t e d S t a t e s , n e t ........................................................................................
57
U .S . G o v e r n m e n t s e c u r i t i e s ................................................................................................................................
58
U .S . T r e a s u r y s e c u r i t i e s
9...............................................................................................................................
1 0 ,6 6 7
( 17)
- 9 ,1 6 5
( ,7 )
( ,7 )
( 17)
60
O t h e r U .S . G o v e r n m e n t lia b ili tie s
11.............................................................................................................
( 17)
172
n
-129
61
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e ............................................
( 17)
( 17)
O t h e r 10..........................................................................................................................................................................
59
n
(18 )
D
99
n
n
(1 8 )
(18 )
(1 8 )
-
2,102
- 1 6 ,4 8 0
76,101
85,978
n
(18)
(18)
n
(1 8 )
(18 )
(18 )
(18 )
(18 )
(18)
-123
(18 )
-165
(18 )
120
11
(18 )
(18 )
(18 )
(18 )
(18 )
(18)
n
(18 )
46
(18 )
(18 )
12..........................................................................................................................
( ,7 )
( 17)
63
O t h e r f o r e ig n a s s e t s in t h e U n ite d S t a t e s , n e t ...........................................................................................
7 1 ,3 9 6
9 7 ,0 3 3
64
D i r e c t i n v e s t m e n t .........................................................................................................................................................
3 6 ,0 2 5
2 8 ,6 7 7
65
U .S . T r e a s u r y s e c u r i t i e s .........................................................................................................................................
- 1 6 ,7 4 0
66
U .S . s e c u r i t i e s o t h e r t h a n U .S . T r e a s u r y s e c u r i t i e s .........................................................................
7 0 ,5 2 2
67
U .S . c u r r e n c y ..................................................................................................................................................................
68
U .S . lia b ili tie s t o u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g c o n c e r n s . . . .
1 3 ,3 2 5
4 7 ,9 7 5
1 3 ,6 9 8
4 8 ,5 2 4
- 1 ,0 3 5
1 2 ,4 0 0
1 5 ,2 0 2
3 5 ,4 2 4
69
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e ............................................
- 3 1 ,7 3 6
- 2 8 ,9 5 8
18—2 , 9 2 4
18—1 4 , 5 1 0
18- 1 0 , 2 4 1
1M , 9 8 7
187 , 2 3 2
18—1 0 , 5 1 8
70
Statistical discrepancy (sum of above items with sign reversed)..........................
62
O t h e r f o r e i g n o ffic ia l a s s e t s
62,849
n
(18)
(18)
- 2 6 ,2 4 3
n
2 8 ,3 2 8
(18)
3 2 ,1 8 6
(18 )
2 5 ,5 1 6
(18 )
7 5 ,5 8 2
6 9 ,6 9 2
6 9 ,2 5 8
1 7 ,8 1 8
164,692
n
76,731
84,222
61,847
n
n
2 3 ,7 6 0
H
1 9 ,2 1 3
28,199
3 ,2 4 3
(18)
5 0 ,4 1 3
10,927
n
8 ,3 5 3
n
5 2 ,6 7 3
39,500
Memoranda:
71
B a l a n c e o n g o o d s ( l i n e s 3 a n d 2 0 ) ...........................................................................................................................
72
- 3 6 ,5 4 2
- 3 8 ,7 7 9
- 3 0 ,1 6 3
-3 1 ,8 5 6
- 2 3 ,5 5 0
- 2 4 ,7 5 4
-
2,020
- 2 ,5 5 7
B a l a n c e o n s e r v i c e s ( l i n e s 4 a n d 2 1 ) .......................................................................................................................
-283
2 ,6 9 1
-1
2 ,6 4 4
- 1 ,5 3 0
-5 0 4
73
B a l a n c e o n g o o d s a n d s e r v i c e s ( l i n e s 2 a n d 1 9 ) ..........................................................................................
- 3 6 ,8 2 5
- 3 6 ,0 8 8
- 3 0 ,1 6 4
- 2 9 ,2 1 2
- 2 5 ,0 8 0
- 2 5 ,2 5 8
-619
77
74
B a l a n c e o n i n c o m e ( l i n e s 1 2 a n d 2 9 ) ......................................................................................................................
-5 ,3 8 1
-4 ,5 9 6
- 7 ,2 9 6
- 6 ,9 4 9
-898
- 1 ,4 3 4
- 7 ,0 7 9
- 6 ,3 6 5
75
U n i la te r a l c u r r e n t t r a n s f e r s , n e t (l i n e 3 5 ) ...............................................................................................................
- 3 ,4 3 4
-3 ,2 7 1
- 2 ,8 1 3
-2 ,2 7 1
- 2 ,0 5 1
- 1 ,8 7 0
215
402
76
B a la n c e o n c u rr e n t a c c o u n t (lin e s 1 ,1 8 , a n d 3 5 o r lin e s 7 3 , 7 4 , a n d 7 5
) 13............................
- 4 5 ,6 3 9
- 4 3 ,9 5 5
- 4 0 ,2 7 2
- 3 8 ,4 3 2
- 2 8 ,0 2 9
- 2 8 ,5 6 2
- 7 ,4 8 3
- 5 ,8 8 6
p P r e lim in a r y
r R e v is e d
1 ,4 0 1
2 ,6 3 4
S e e f o o tn o te s o n p a g e D - 6 3
S o u r c e : T a b le 1 1 in “U .S . I n te r n a tio n a l T r a n s a c tio n s : T h ird Q u a r te r o f 2 0 0 6 ” in t h e J a n u a r y 2 0 0 7 S u r v e y o f C u r r e n t
B u sin e ss.
March 2007
Survey
of
D-61
C u r r e n t B u s in e s s
Table F.3. U.S. International Transactions, by Area—Continues
[M i l l i o n s o f d o l l a r s ]
L a tin A m e r i c a a n d O t h e r
C anada
L in e
(C re d its + , d e b its
W e s te r n H e m is p h e re
-)1
2006:11 r
2 0 0 6 : lll p
2 0 0 6 : ll r
2 0 0 6 : lll p
M e x ic o
2006:11
'
15
A s i a a n d P a c if i c
2 0 0 6 : lll p
A u s tr a l ia
2 0 0 6 : lli p
2 0 0 6 : llr
2 0 0 6 : lll p
2 0 0 6 : llr
Current account
1 Exports of goods and services and income receipts.............................................
81,546
76,384
106,186
108,191
42,864
42,026
117,877
123,016
9,582
10,070
2
7 0 ,1 4 2
6 5 ,5 2 1
7 1 ,5 4 6
7 2 ,7 4 8
3 9 ,6 6 2
3 8 ,7 3 1
9 4 ,4 1 0
9 8 ,9 9 4
6 ,4 6 5
6 ,7 9 4
6 0 ,4 8 4
5 6 ,2 0 8
5 5 ,5 2 0
5 5 ,7 9 1
3 4 ,0 1 8
3 3 ,1 2 5
6 7 ,2 3 7
6 9 ,6 0 5
4 ,1 0 1
4 ,4 4 0
9 ,6 5 8
9 ,3 1 3
1 6 ,0 2 6
1 6 ,9 5 7
5 ,6 4 4
5 ,6 0 6
2 7 ,1 7 3
2 9 ,3 8 9
2 ,3 6 4
2 ,3 5 4
E x p o r t s o f g o o d s a n d s e r v i c e s ..............................................................................................................................
3
G o o d s, b a la n c e of p a y m e n ts b a s is
4
S e r v ic e s
5
6
2
3.........................................................................................................................................................................
T r a n s f e r s u n d e r U .S . m il ita r y a g e n c y s a l e s c o n t r a c t s 4..........................................................
T r a v e l..................................................
45
2 ,8 9 5
64
199
192
2 ,2 7 7
5 ,0 3 4
5 ,3 8 4
2
1 ,8 2 1
928
731
78
6 ,2 3 7
7 ,2 3 4
682
641
125
7
P a s s e n g e r f a r e s .......................
680
757
1 ,4 0 3
1 ,4 8 9
496
465
1 ,3 9 1
1 ,3 5 8
136
8
O t h e r t r a n s p o r t a t i o n ............................................................................................................................................
838
830
1 ,4 3 3
1 ,5 4 3
425
458
4 ,1 4 9
4 ,2 7 6
91
9
R o y a ltie s a n d lic e n s e f e e s
10
11
12
13
93
5..............
1 ,2 2 3
1 ,2 3 5
1 ,1 0 6
1 ,0 7 3
403
394
4 ,7 5 0
4 ,8 2 4
331
317
O t h e r p r i v a t e s e r v i c e s 5 .......................
3 ,9 4 7
4 ,1 1 5
6 ,8 0 7
7 ,2 3 5
2 ,4 9 3
2 ,5 2 7
9 ,6 2 9
1 0 ,8 7 7
1 ,0 4 1
1 ,0 8 5
30
35
43
40
4
4
89
89
5
5
1 1 ,4 0 4
1 0 ,8 6 3
3 4 ,6 4 0
3 5 ,4 4 3
3 ,2 0 2
3 ,2 9 5
2 3 ,4 6 7
2 4 ,0 2 2
3 ,1 1 7
3 ,2 7 6
1 1 ,3 6 9
1 0 ,8 2 7
3 4 ,5 9 0
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s .......................................................................................
I n c o m e r e c e i p t s ........................................................
3 5 ,3 9 0
3 ,1 9 4
3 ,2 8 7
2 3 ,3 7 0
2 3 ,9 2 3
3 ,1 1 0
3 ,2 6 9
6 ,1 3 4
1 1 ,8 7 1
1 1 ,7 3 4
2 ,2 6 0
2 ,3 6 3
1 5 ,1 1 8
1 5 ,2 2 4
1 ,8 3 0
1 ,9 1 3
4 ,6 9 3
2 2 ,6 3 3
2 3 ,6 1 2
931
920
8 ,1 3 7
8 ,5 8 9
1 ,2 8 0
1 ,3 5 6
86
44
3
4
115
110
36
50
53
8
8
97
99
7
7
-91,508
-89,098
-130,572
-134,578
-58,322
-58,208
-220,984
-240,064
-5,136
-5,335
I n c o m e r e c e i p t s o n U . S . - o w n e d a s s e t s a b r o a d .................................................................................
14
D ir e c t i n v e s t m e n t r e c e i p t s .
15
O t h e r p r i v a t e r e c e i p t s .........
6 ,8 4 1
4 ,5 2 8
16
17
88
3
1 ,7 5 5
C o m p e n s a tio n o f e m p lo y e e s .
35
18
Imports of goods and services and income payments..........................................
19
I m p o r t s o f g o o d s a n d s e r v i c e s ................................................................................................................................
-8 5 ,0 9 4
- 8 2 ,4 6 2
- 9 9 ,9 4 8
- 1 0 1 ,3 8 6
- 5 5 ,1 0 9
- 5 4 ,6 2 7
- 1 8 5 ,1 0 6
- 2 0 2 ,2 4 5
- 3 ,2 1 3
- 3 ,4 7 8
2..........................................................................................................
- 7 8 ,7 1 1
- 7 4 ,5 9 7
- 8 4 ,9 4 0
- 8 6 ,9 0 5
- 5 1 ,1 7 3
- 5 0 ,9 4 0
- 1 6 4 ,8 2 5
- 1 8 2 ,1 9 3
-
2,021
- 2 ,1 2 9
3.........................................................................................................................................................................
- 6 ,3 8 3
- 7 ,8 6 5
- 1 5 ,0 0 8
- 1 4 ,4 8 1
- 3 ,9 3 6
- 3 ,6 8 7
-2 0 ,2 8 1
- 2 0 ,0 5 2
- 1 ,1 9 2
- 1 ,3 4 9
D ir e c t d e f e n s e e x p e n d i t u r e s ........................................................................................................................
-54
-5 5
-76
-75
-4
-4
- 1 ,3 9 8
- 1 ,3 0 9
-29
-35
- 6 ,3 9 4
- 5 ,4 8 0
-2 ,6 1 1
- 2 ,3 1 8
- 3 ,9 6 3
- 3 ,7 5 3
-253
-357
- 1 ,9 9 2
-210
-243
- 6 ,1 6 2
-87
- 1 ,7 7 4
-61
-76
-531
-531
20
21
22
23
G o o d s, b a la n c e o f p a y m e n ts b a s is
S e r v ic e s
T r a v e l................................
- 2 ,0 2 4
24
P a s s e n g e r f a r e s ....
25
O t h e r t r a n s p o r t a t i o n ............................................................................................................................................
26
R o y a ltie s a n d lic e n s e f e e s 5
27
5...................................................................................................................................
O th e r p r iv a te s e r v i c e s
- 3 ,3 1 3
-132
-117
-798
-824
-275
-315
- 2 ,2 0 7
- 1 ,2 0 9
- 1 ,1 6 3
- 1 ,6 0 4
- 1 ,7 3 2
-286
-262
-
-184
-208
-301
-337
-4 4
-42
- 2 ,7 0 5
- 2 ,9 3 3
- 5 ,6 9 8
- 5 ,8 9 6
-703
-673
6,010
- 1 ,8 0 4
- 4 ,7 2 9
- 4 ,8 9 1
-86
28
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s .......................................................................................
-75
-7 6
-137
-137
-43
-43
-170
-171
-21
-21
29
I n c o m e p a y m e n t s ...............................................................................................................................................................
- 6 ,4 1 4
- 6 ,6 3 6
- 3 0 ,6 2 4
- 3 3 ,1 9 2
- 3 ,2 1 3
-3 ,5 8 1
- 3 5 ,8 7 8
- 3 7 ,8 1 9
- 1 ,9 2 3
- 1 ,8 5 7
30
I n c o m e p a y m e n t s o n f o r e i g n - o w n e d a s s e t s in t h e U n i t e d S t a t e s .......................................
-3 1 ,2 7 1
- 1 ,4 7 9
- 1 ,7 1 0
- 3 5 ,6 8 5
- 3 7 ,6 5 8
- 1 ,9 1 9
- 1 ,8 5 4
- 6 ,3 0 0
- 6 ,5 2 4
- 2 8 ,8 5 3
31
D i r e c t i n v e s t m e n t p a y m e n t s ..........................................................................................................................
- 3 ,1 7 6
- 3 ,1 7 7
- 1 ,9 2 2
- 1 ,8 9 7
-37
-186
- 5 ,1 9 5
- 6 ,0 3 8
-931
-826
32
O t h e r p r i v a t e p a y m e n t s ....................................................................................................................................
- 2 ,4 6 0
- 2 ,5 6 6
- 2 3 ,0 9 0
- 2 5 ,3 8 9
-630
-698
- 7 ,9 2 7
- 8 ,3 0 2
-770
-813
33
U .S . G o v e r n m e n t p a y m e n t s .........................................................................................................................
-664
-781
-3 ,8 4 1
- 3 ,9 8 5
-812
-826
- 2 2 ,5 6 3
-2 3 ,3 1 8
-218
-215
34
C o m p e n s a t i o n o f e m p l o y e e s ..............................................................................................................................
-114
-112
-1 ,7 7 1
- 1 ,9 2 1
- 1 ,7 3 4
-1 ,8 7 1
-193
-161
-4
-3
-6,534
-6,277
-2,852
-2,886
-87
-56
35
U n i la te r a l c u r r e n t t r a n s f e r s , n e t ............................
-198
-61
-647
36
-630
-8
-17
-2,793
-918
-3,282
-578
37
U .S . G o v e r n m e n t p e n s i o n s a n d o t h e r t r a n s f e r s .......................................................................................
-156
-152
-185
-184
-70
-6 7
-195
-172
-20
-1 7
38
P r iv a te r e m i tta n c e s a n d o th e r t r a n s fe r s
6 .....................................................................................................
-42
91
- 5 ,7 0 2
- 5 ,4 6 3
- 2 ,7 6 5
-2 ,8 1 1
- 1 ,6 8 0
-2 ,5 3 2
-67
-3 9
Capital and financial account
Capital account
39
Capital account transactions, n e t............................................................................
30
29
-38
-42
-20
-22
-208
-223
-8
-8
-22,142
-8,761
-63,056
39,244
-2,866
2,525
-16,484
-46,420
-4,690
-8,530
Financial account
40
U.S.-owned assets abroad, net (increase/financial outflow ( - ) ) ............................
41
7.................................
42
G o ld
43
S p e c i a l d r a w i n g r i g h ts
...........................
--
.......................................-
44
R e s e r v e p o s i t i o n in t h e I n t e r n a t i o n a l M o n e t a r y F u n d ...................................................................
-10
-1 3
-10
-1 3
...............
45
-1
46
47
48
-1
49
111
103
7
5
139
194
-74
-53
-3
-3
-44
-37
189
164
12
-2
9
182
224
-4
-8
-1
1
7
- 4 ,6 9 0
- 8 ,5 3 0
51
D ir e c t i n v e s t m e n t .........................................................................................................................................................
- 3 ,4 5 9
- 7 ,5 7 0
- 4 ,0 6 6
- 7 ,6 7 6
- 1 ,0 2 8
- 2 ,3 7 5
- 1 4 ,0 6 3
-1 1 ,9 3 6
- 1 ,7 3 7
- 1 ,9 7 1
52
F o r e i g n s e c u r i t i e s ........................................................................................................................................................
- 1 ,9 9 7
- 5 ,6 8 9
- 1 ,2 5 8
-251
743
4 ,7 1 1
6 ,3 8 7
6 ,0 1 4
- 2 ,3 3 8
53
U .S . c l a i m s o n u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g c o n c e r n s ........
-995
- 2 ,0 0 3
5 ,2 3 3
2 4 ,3 2 6
449
-133
264
672
670
194
- 1 ,2 8 5
- 6 ,1 9 4
50
U .S . p r i v a t e a s s e t s , n e t ................................................................................................................................................
54
U .S . c l a i m s r e p o r t e d b y U .S . b a n k s , n o t in c l u d e d e l s e w h e r e ..................................................
55
Foreign-owned assets in the United States, net (increase/financial inflow (+))....
56
F o r e i g n o ffic ia l a s s e t s in t h e U n ite d S t a t e s , n e t .......................................................................................
57
U .S . G o v e r n m e n t s e c u r i t i e s ................................................................................................................................
9..................................
58
U .S . T r e a s u r y s e c u r i t i e s
59
O t h e r 10..............................................................................
11..................
60
O t h e r U .S . G o v e r n m e n t lia b ili tie s
61
U .S . lia b ilitie s r e p o r t e d b y U .S . b a n k s , n o t in c l u d e d e l s e w h e r e ............................................
62
O t h e r f o r e ig n o ffic ia l a s s e t s
12..............................
- 2 2 ,1 4 1
-8 ,7 6 1
- 1 5 ,6 9 0
18,087
-451
- 6 3 ,1 6 7
3 9 ,1 4 1
- 2 ,8 7 3
2 ,5 2 0
- 1 6 ,6 1 3
- 4 6 ,6 0 1
6 ,5 0 1
- 6 3 ,0 7 6
2 2 ,7 4 2
- 3 ,0 3 7
317
- 9 ,2 0 1
24,832
140,346
159,494
12,170
982
103,495
117,018
1 1 ,6 9 2
1 2 ,8 3 1
(18 )
3 5 ,8 4 4
6 9 ,0 6 9
-335
n
- 4 1 ,3 5 1
( ,7 )
( 17)
( 17)
( ,7 )
n
n
( 17)
( 17)
( 17)
( 17)
( 17)
( 17)
n
n
( 17)
( 17)
C 7)
44
n
-2 7
( 17)
-44
( 17)
-6 4
n
n
C 7)
400
n
1 ,2 1 4
( 17)
( 17)
n
( 17)
( ,7 )
( 17)
n
( ,7 )
-2
5
(18)
n
63
O t h e r f o r e i g n a s s e t s in t h e U n ite d S t a t e s , n e t
1 8 ,5 3 8
2 5 ,1 6 7
1 2 8 ,6 5 4
1 4 6 ,6 6 3
64
D ir e c t i n v e s t m e n t .............................................................
-2 ,6 4 2
4 ,5 8 1
5 ,7 9 4
5 ,0 6 2
o
498
65
U .S . T r e a s u r y s e c u r i t i e s .............................................
66
U .S . s e c u r i t i e s o t h e r t h a n U .S . T r e a s u r y s e c u r i t i e s .........................................................................
( 17)
8 ,1 0 7
( 17)
5 ,0 5 9
( 17)
1 1 ,3 2 4
( ,7 )
3 8 ,9 8 1
n
680
<17)
6 ,0 5 4
n
7 ,6 7 9
n
1 0 2 ,4 6 0
H
9 9 ,5 0 7
1 8 1 0 ,8 1 4
o
n
n
<17)
n
220
n
1 ,6 3 8
6 7 ,6 5 1
6,110
H
3 4 ,5 4 4
( 17)
H
4 7 ,9 4 9
6 ,9 9 3
-559
7,800
-1,024
(18)
(18)
(18)
(18)
n
(18 )
(18 )
237
(18)
n
(18 )
339
(18)
n
1 8 ,1 9 1
2 ,9 9 1
(18 )
153
O
(18 )
(18 )
459
n
1 ,1 7 8
67
68
U .S . lia b ili tie s t o u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g c o n c e r n s ....
69
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e ............................................
70
Statistical discrepancy (sum of above items with sign reversed)..........................
( 17)
6 ,9 4 9
( 17)
9 ,8 7 7
52
-114
18—5 2 1
184 , 1 8 1
18- 2 , 7 0 0
15,583
19,097
49,955
-7,461
- 1 1 2 ,5 8 8
2 ,0 8 0
180
4,883
-3,325
-46,333
-166,031
- 1 8 ,3 8 9
- 2 9 ,4 2 0
-3 1 ,1 1 4
- 1 7 ,8 1 5
- 9 7 ,5 8 8
3 ,2 7 5
1 ,4 4 8
1 ,0 1 8
2 ,4 7 5
1 ,7 0 8
1 ,9 1 9
6 ,8 9 2
9 ,3 3 7
1 ,1 7 2
1 ,0 0 5
- 2 8 ,4 0 2
- 2 8 ,6 3 9
- 1 5 ,4 4 7
-1 5 ,8 9 6
- 9 0 ,6 9 6
- 1 0 3 ,2 5 1
3 ,2 5 2
3 ,3 1 6
4 ,0 1 6
2 ,2 5 1
-11
-286
- 1 2 ,4 1 1
- 1 3 ,7 9 7
1 ,1 9 4
1 ,4 1 9
14,185
9,026
-360
Memoranda:
71
B a l a n c e o n g o o d s ( l i n e s 3 a n d 2 0 ) ...........................................................................................................................
- 1 8 ,2 2 7
72
B a l a n c e o n s e r v i c e s (l i n e s 4 a n d 2 1 ) ......................................................................................................................
- 1 7 ,1 5 5
73
B a l a n c e o n g o o d s a n d s e r v i c e s ( l i n e s 2 a n d 1 9 ) ..........................................................................................
- 1 4 ,9 5 2
- 1 6 ,9 4 1
74
B a l a n c e o n i n c o m e ( l i n e s 1 2 a n d 2 9 ) .......................................................................................................................
4 ,9 9 0
4 ,2 2 7
75
U n i la te r a l c u r r e n t t r a n s f e r s , n e t (l i n e 3 5 ) ...............................................................................................................
-198
-61
- 6 ,5 3 4
-6 ,2 7 7
- 2 ,8 5 2
76
B a la n c e o n c u rr e n t a c c o u n t (lin e s 1 ,1 8 , a n d 3 5 o r lin e s 7 3 , 7 4 , a n d 7 5
) 13............................
- 1 0 ,1 6 0
- 1 2 ,7 7 5
- 3 0 ,9 2 0
- 3 2 ,6 6 5
- 1 8 ,3 1 0
See the footnotes on page D -63.
-
2,886
- 1 9 ,0 6 8
2 ,3 1 1
- 2 ,7 9 3
- 3 ,2 8 2
-87
-56
- 1 0 5 ,9 0 0
- 1 2 0 ,3 3 0
4 ,3 5 9
4 ,6 7 9
D-62
International Data
March 2007
Table F.3. U.S. International Transactions, by Area— Table Ends
[Millions of dollars]
C h in a
L in e
(C re d its + , d e b its
I n d ia
Jap an
M id d le E a s t
A fr ic a
-)1
2 0 0 6 : 11 r
2 0 0 6 : lll p
2 0 0 6 : 11r
2 0 0 6 : lll p
2 0 0 6 : 11 r
2 0 0 6 : lll p
2 0 0 6 : ll r
2 0 0 6 : lll p
2 0 0 6 : 11 r
2 0 0 6 : lll p
Current account
1 Exports of goods and services and income receipts..........................
2
E x p o r t s o f g o o d s a n d s e r v i c e s ...............................................................................................
G o o d s , b a l a n c e o f p a y m e n t s b a s i s 2...........................................................................
3
4
S e r v i c e s 3...........................................................................................................................................
5
T r a n s f e r s u n d e r U .S . m il ita r y a g e n c y s a l e s c o n t r a c t s 4...........................
6
T r a v e l.................................................................................................................................................
17,072
18,691
4,786
4,839
31,404
33.413
15,835
16,063
8,635
9,355
1 5 ,6 2 1
1 7 ,1 9 9
4 ,1 5 0
4 ,2 0 6
2 4 ,7 6 8
2 6 .4 5 7
1 3 ,8 0 4
1 3 ,9 8 6
6 ,4 4 8
7 ,3 7 0
1 3 ,1 7 2
1 4 ,4 3 1
2 ,5 4 4
2 ,6 5 1
1 4 ,2 3 2
1 4 ,7 1 6
8 ,9 9 4
9 ,0 2 1
4 ,1 1 0
4 ,9 8 7
2 ,4 4 9
2 ,7 6 8
1 ,6 0 6
1 ,5 5 5
1 0 ,5 3 6
1 1 ,7 4 1
4 ,8 1 0
4 ,9 6 5
2 ,3 3 8
2 ,3 8 3
(* )
(* )
4
163
123
1 ,9 4 2
1 ,7 7 5
394
249
2 ,8 3 7
3 ,7 5 6
524
672
331
404
80
58
9
9
552
587
182
232
347
374
570
7
P a s s e n g e r f a r e s ..............
95
95
248
8
O th e r tr a n s p o rta tio n ....
627
671
118
9
10
11
12
13
5...........................................................................................
R o y a ltie s a n d lic e n s e f e e s
O th e r p riv a te s e r v i c e s 5
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s ........................................................
6
470
8
1,022
805
129
1,102
1 ,0 6 7
327
319
81
52
2 ,2 1 7
2 ,2 3 8
104
104
144
118
1 ,0 4 7
1 ,3 0 2
573
878
3 ,3 9 2
3 ,5 1 6
1 ,5 7 7
1 ,7 4 2
1 ,2 5 8
1 ,3 5 1
19
31
27
6 ,6 3 6
6 ,9 5 6
2 ,0 3 1
2 ,0 7 7
2 ,1 8 7
6
7
12
12
I n c o m e r e c e i p t s .....................................................................................................................................
1 ,4 5 1
1 ,4 9 2
636
633
I n c o m e r e c e i p t s o n U .S .- o w n e d a s s e t s a b r o a d ..................................................
20
20
20
1 ,9 8 5
1 ,4 4 2
1 ,4 8 3
632
629
6 ,6 1 7
6 ,9 3 6
2 ,0 0 7
2 ,0 5 3
2 ,1 6 9
1 ,9 6 7
14
D i r e c t i n v e s t m e n t r e c e i p t s ...........................
1 ,2 0 7
1,200
433
421
2 ,6 1 8
2 ,6 6 1
1 ,4 4 8
1 ,4 5 5
1 ,7 9 0
1 ,5 5 8
15
O t h e r p r i v a t e r e c e i p t s ....................................
225
258
196
196
3 ,9 8 9
4 ,2 6 3
540
569
314
309
19
29
65
24
24
18
18
-27,809
-22,614
-25,309
25
3
12
10
9
9
4
4
19
-78,427
-90,413
-6,918
-7,610
-59,872
-60,881
-26,715
I m p o r t s o f g o o d s a n d s e r v i c e s ............................
- 6 9 ,6 8 8
- 8 0 ,9 1 3
-6 ,5 1 1
- 7 ,1 8 7
- 4 3 ,0 3 4
- 4 3 ,3 4 0
- 2 3 ,9 6 8
- 2 4 ,9 6 8
- 2 2 ,1 4 7
-2 4 ,7 8 1
2......
- 6 7 ,7 2 0
-7 8 ,9 4 1
- 5 ,1 0 9
- 5 ,8 6 5
- 3 6 ,5 9 8
- 3 6 ,9 2 6
- 1 9 ,2 3 1
-2 0 ,0 9 4
- 2 0 ,9 0 0
- 2 3 ,6 3 4
3......................................................................
- 1 ,9 6 8
- 1 ,9 7 2
- 1 ,4 0 2
- 1 ,3 2 2
- 6 ,4 3 6
- 6 ,4 1 4
-4 ,7 3 7
- 4 ,8 7 4
- 1 ,2 4 7
- 1 ,1 4 7
-1
-1
-20
-2
-358
-360
- 3 ,3 0 0
- 3 ,4 2 5
-53
16
U .S . G o v e r n m e n t r e c e i p t s ...........................
17
C o m p e n s a t i o n o f e m p l o y e e s ...........................
18
19
20
21
22
10
Imports of goods and services and income payments.......................
G o o d s, b a la n c e o f p a y m e n ts b a s is
S e r v ic e s
D ir e c t d e f e n s e e x p e n d i t u r e s .........................................................................................
12
20
100
-66
23
T r a v e l.................................................................................................................................................
-665
-635
-377
-266
-838
-788
-306
-320
-477
-342
24
P a s s e n g e r f a r e s .......................................................................................................................
-144
-136
-39
-45
-341
-307
-170
-218
-118
-131
-68
-8
-83
- 1 ,8 2 5
-1 ,8 3 1
-318
-306
-74
-87
-6
- 1 ,6 7 5
-1 ,6 3 1
-64
-2 8
-3
-3
-461
-456
25
O t h e r t r a n s p o r t a t i o n .............................................................................................................
-889
-912
26
R o y a ltie s a n d lic e n s e f e e s
5...........................................................................................
-13
-1 6
27
O th e r p riv a te s e r v i c e s
5....................................................................................................
-248
-264
-885
-915
- 1 ,3 6 2
-1 ,4 6 0
-504
-5 0 4
28
U .S . G o v e r n m e n t m i s c e l l a n e o u s s e r v i c e s .........................................................
-8
-8
-5
-5
-37
-37
-75
-7 3
29
I n c o m e p a y m e n t s ................................................................................................................................
- 8 ,7 3 9
- 9 ,5 0 0
-4 0 7
-423
- 1 6 ,8 3 8
-1 7 ,5 4 1
- 2 ,7 4 7
-2 ,8 4 1
-467
-528
30
I n c o m e p a y m e n t s o n f o r e i g n - o w n e d a s s e t s in t h e U n ite d S t a t e s ........
- 8 ,6 5 8
- 9 ,4 2 4
-375
-399
- 1 6 ,8 1 5
-1 7 ,5 2 1
- 2 ,7 3 5
- 2 ,8 3 2
-444
-508
-62
31
D ir e c t i n v e s t m e n t p a y m e n t s ...........................................................................................
-25
-2 6
-3 ,9 9 1
- 4 ,6 0 5
-4 2 2
-3 3 8
-3 0
32
O t h e r p r i v a t e p a y m e n t s ......................................................................................................
- 1 ,1 8 9
- 1 ,3 4 2
-101
-118
- 3 ,1 0 2
- 3 ,0 9 2
-1 ,0 9 5
- 1 ,2 3 8
-235
-255
33
U .S . G o v e r n m e n t p a y m e n t s ...........................................................................................
- 7 ,4 4 4
- 8 ,0 5 6
-137
-135
- 9 ,7 2 2
-9 ,8 2 4
- 1 ,2 1 8
-1 ,2 5 6
-1 7 9
-199
34
C o m p e n s a t i o n o f e m p l o y e e s ...............................................................................................
35
Unilateral current transfers, net............................................................
36
U .S . G o v e r n m e n t g r a n t s
-137
-61
-146
-8 1
-76
-32
-24
-2 3
-20
-12
-418
-537
-436
-553
600
248
-2,466
-2,462
-48
-25
-1 597
-1 529
4............................................................................................................
-9
-2 3
-1,330
-671
-54
-20
-1,153
-430
37
U .S . G o v e r n m e n t p e n s i o n s a n d o t h e r t r a n s f e r s ........................................................
-1
-1
-5
-5
-5 0
--4 0
-31
-30
-7
-5
38
P r iv a te r e m i tta n c e s a n d o th e r t r a n s fe rs
6 ......................................................................
-417
-536
-383
-523
650
288
-838
-903
-652
-718
-37
-39
-50
-53
3
2
-78
-81
-501
-17
-1,519
6,013
-1,562
-983
4,560
-25,576
-5,713
-1,330
-946
-578
Capital and financial account
Capital account
39
Capital account transactions, n e t........................................................
Financial account
40
U.S.-owned assets abroad, net (increase/financial outflow ( - ) ) .........
41
U .S . o ffic ia l r e s e r v e a s s e t s , n e t ...............................................................................................
4?
G o ld
-10
-13
-10
-13
7......................................................................................................................................................
43
44
R e s e r v e p o s i t i o n in t h e I n t e r n a t i o n a l M o n e t a r y F u n d ....................................
4^
F o r e i g n c u r r e n c i e s .......................................................................................................................
46
U .S . G o v e r n m e n t a s s e t s , o t h e r t h a n o f fic ia l r e s e r v e a s s e t s , n e t ................
47
U .S . c r e d i t s a n d o t h e r lo n g - t e r m a s s e t s .....................................................................
48
R e p a y m e n t s o n U .S . c r e d i t s a n d o t h e r l o n g - t e r m a s s e t s
8........................
22
41
23
55
23
40
17
53
-1
1
6
1
1
2
61
-3
1 273
30
-1 4
-87
-134
65
49
1 369
-9
164
-1
38
49
U .S . f o r e ig n c u r r e n c y h o l d i n g s a n d U .S . s h o r t - t e r m a s s e t s , n e t ...........
50
U .S . p r i v a t e a s s e t s , n e t ..................................................................................................................
- 1 ,5 4 1
5 ,9 7 2
- 1 ,5 8 5
- 1 ,0 3 8
4 ,5 7 0
- 2 5 ,5 6 4
- 5 ,7 7 4
-1 ,3 6 8
- 2 ,2 1 9
-608
51
D ir e c t i n v e s t m e n t ..........................................................................................................................
- 1 ,3 6 0
-713
-331
-409
- 2 ,3 0 5
- 2 ,1 8 8
-985
- 1 ,1 5 6
- 1 ,1 8 0
- 1 ,0 4 5
52
F o r e ig n s e c u r i t i e s ..........................................................................................................................
2 ,5 0 2
2 ,0 9 4
- 1 ,3 9 4
-7 3
8 ,1 4 4
2 ,3 8 5
-373
-804
- 1 ,0 7 1
53
U .S . c l a i m s o n u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g
c o n c e r n s ........................................................................................................................................
-3 0
310
-178
182
-150
-189
- 1 ,0 6 9
-345
54
U .S . c l a i m s r e p o r t e d b y U .S . b a n k s , n o t in c l u d e d e l s e w h e r e ...................
- 2 ,6 5 3
4 ,2 8 1
318
-738
- 1 ,1 1 9
- 2 5 ,5 7 2
- 3 ,3 4 7
937
55
Foreign-owned assets in the United States, net (increase/financial
inflow (+))............................................................................................
-647
65,212
67,910
2,371
3
120
-88
462
-32
7
13,461
21,284
19,225
10,566
2,710
-120
56
F o r e i g n o f fic ia l a s s e t s in t h e U n ite d S t a t e s , n e t ........................................................
(18)
(18)
(18)
(18)
(18)
(18)
57
U .S . G o v e r n m e n t s e c u r i t i e s .................................................................................................
(18)
(18)
(18)
(18)
(18)
(18)
1 5 ,3 8 0
(17)
8 ,1 1 3
(1?)
2 ,7 3 5
(17)
161
(17)
...............................................................................................
(18)
(18)
(18)
(18)
(18)
(18)
(17)
(17)
(17)
(17)
O t h e r 10...........................................................................................................................................
(18)
(18)
(18)
(18)
(18)
(18)
(17)
(17)
(17)
(17)
48
(18)
45
(18)
249
(17)
-35
(17)
-9 9
(17)
13
(17)
(18)
(18)
(17)
(17)
(17)
(17)
58
59
60
U .S . T r e a s u r y s e c u r i t i e s
9
O t h e r U .S . G o v e r n m e n t lia b ili tie s
11..............................................................................
61
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e .............
(18)
62
O t h e r f o r e i g n o f fic ia l a s s e t s
12...........................................................................................
(18)
(18)
(18)
32
(18)
(18)
(18)
(18)
63
O t h e r f o r e i g n a s s e t s in t h e U n ite d S t a t e s , n e t ...........................................................
(18)
(18)
(18)
(18)
(18)
(18)
64
D i r e c t i n v e s t m e n t ..........................................................................................................................
65
U .S . T r e a s u r y s e c u r i t i e s ..........................................................................................................
-95
(18)
-40
(18)
150
(18)
227
(18)
4 ,8 0 5
(18)
6 ,3 0 8
(18)
66
U .S . s e c u r i t i e s o t h e r t h a n U .S . T r e a s u r y s e c u r i t i e s ..........................................
9 ,0 2 1
1 ,4 1 4
117
67
U .S . c u r r e n c y ...................................................................................................................................
68
U .S . lia b ili tie s t o u n a f f ilia te d f o r e i g n e r s r e p o r t e d b y U .S . n o n b a n k i n g
c o n c e r n s ........................................................................................................................................
305
-436
9
69
U .S . lia b ili tie s r e p o r t e d b y U .S . b a n k s , n o t i n c l u d e d e l s e w h e r e .............
185 5 , 9 8 1
186 6 , 9 7 2
182 , 0 9 5
70
Statistical discrepancy (sum of above items with sign reversed)......
-1,883
-1,625
1,809
-149
1 1 ,9 6 7
101
18- 8 5 8
9 ,6 9 2
3 ,8 4 5
483
(17)
2 ,4 3 6
2 ,4 5 3
118
(17)
923
480
625
-437
(17)
18- 3 , 9 8 4
,8 5 , 6 7 6
202
454
31,510
-88
5,053
22,210
-1 0 ,2 3 7
5,007
9,844
-25
479
(17)
(17)
(17)
- 1 ,2 7 4
14,046
-281
39
(17)
-10
(17)
-392
17,822
Memoranda:
71
B a l a n c e o n g o o d s ( l i n e s 3 a n d 2 0 ) ............................................................................................
72
B a l a n c e o n s e r v i c e s ( l i n e s 4 a n d 2 1 ) .......................................................................................
481
796
204
233
4 ,1 0 0
5 ,3 2 7
73
91
1 ,0 9 1
1 ,2 3 6
73
B a l a n c e o n g o o d s a n d s e r v i c e s ( l i n e s 2 a n d 1 9 ) ...........................................................
- 5 4 ,0 6 7
- 6 3 ,7 1 4
-2 ,3 6 1
-2 ,9 8 1
-1 8 ,2 6 6
- 1 6 ,8 8 3
- 1 0 ,1 6 4
-1 0 ,9 8 2
-1 5 ,6 9 9
-1 7 ,4 1 1
74
B a l a n c e o n i n c o m e ( l i n e s 1 2 a n d 2 9 ) .......................................................................................
- 7 ,2 8 8
- 8 ,0 0 8
229
- 1 0 ,5 8 5
-716
-764
1 ,7 2 0
75
U n ila te r a l c u r r e n t t r a n s f e r s , n e t ( lin e 3 5 ) ................................................................................
76
B a l a n c e o n c u r r e n t a c c o u n t ( l i n e s 1 , 1 8 , a n d 3 5 o r li n e s 7 3 , 7 4 , a n d 7 5 )
13
- 5 4 ,5 4 8
-6 4 ,5 1 0
- 2 ,5 6 5
- 3 ,2 1 4
210
- 2 2 ,3 6 6
-
10,202
-
- 1 1 ,0 7 3
- 1 8 ,6 4 7
1 ,4 5 7
-418
-537
-436
-553
600
248
- 2 ,4 6 6
- 2 ,4 6 2
- 1 ,3 3 0
- 1 ,1 5 3
-6 1 ,7 7 3
- 7 2 ,2 5 9
- 2 ,5 6 8
- 3 ,3 2 4
- 2 7 ,8 6 8
- 2 7 ,2 2 0
-1 3 ,3 4 6
- 1 4 ,2 0 8
- 1 5 ,3 0 9
- 1 7 ,1 0 7
S e e t h e f o o tn o te s o n p a g e D - 6 3 .
d a t a fo r 2 0 0 5 : 1 to 2 0 0 6 : 1 a n d a n n u a l d a t a fo r 2 0 0 5 fo r t h e s e a r e a s h a v e a l s o b e e n c o r r e c te d a n d c a n b e fo u n d o n B E A ’s
Note. D a t a fo r I n d ia in th is ta b le a n d fo r O th e r A s ia a n d P a c ific h a v e b e e n c o r r e c te d b y o f fs e ttin g a m o u n ts . Q u a r te r l y
W e b s ite a t < w w w .b e a .g o v / b e a /in te r n a tio n a l/b p _ w e b >.
-1 6 ,7 9 0
March 2007
Survey
of
D-63
C u r r e n t B u s in e s s
Table F.4. Private Services Transactions
[M illio n s o f d o l l a r s ]
S e a s o n a lly a d ju s te d
N o t s e a s o n a lly a d ju s te d
L in e
I
1 Exports of private services......................................
2 T r a v e l ( t a b l e F .2 , lin e 6) .....................................................................
2006
2005
2005
II
III
IV
I
360,489
85,572
87,178
93,721
94,018
8 1 ,6 8 0
1 7 ,7 8 6
2 1 ,4 2 5
2 3 ,5 4 5
1 8 ,9 2 4
II r
2005
III p
93,765
96,526
102,399
1 8 ,7 8 1
2 2 ,0 5 0
2 4 ,2 1 9
I
II
2006
III
I
IV
II r
89,117
90,377
93,555
95,188
98,590
99,652
1 9 ,9 8 3
2 0 ,9 3 4
2 0 ,3 8 9
2 0 ,3 7 4
2 0 ,7 4 2
2 1 ,4 4 3
2 1 ,4 6 4
3
P a s s e n g e r f a r e s ( t a b l e F .2 , lin e 7 ) ............................................
2 0 ,9 3 1
4 ,6 6 4
5 ,1 0 4
5 ,9 3 3
5 ,2 2 9
5 ,2 5 7
5 ,2 0 9
5 ,6 6 4
4 ,8 9 0
5 ,1 6 1
5 ,5 0 8
5 ,3 7 1
5 ,5 4 5
4
O t h e r t r a n s p o r t a t i o n ( t a b l e F .2 , lin e
8) ..................................
4 2 ,2 4 5
9 ,6 8 2
1 0 ,3 5 8
1 0 ,7 5 4
1 1 ,4 5 1
1 1 ,3 9 4
1 2 ,0 9 1
1 2 ,4 4 5
1 0 ,1 0 3
1 0 ,3 5 3
1 0 ,5 4 5
1 1 ,2 4 4
1 1 ,5 8 8
5
6
7
8
4 ,2 8 3
4 ,2 5 7
4 ,3 3 2
4 ,4 6 8
4 ,4 0 2
4 ,4 9 5
4 ,6 9 2
6 ,0 4 1
6 ,4 4 7
6 ,9 5 0
7 ,0 6 4
7 ,5 3 0
7 ,7 8 1
5 ,8 2 0
6 ,0 9 6
6 ,2 1 3
6 ,7 7 6
7 ,1 8 6
7 ,7 0 7
7 ,5 2 4
1 3 ,6 1 8
1 3 ,7 4 2
1 3 ,9 5 8
1 6 ,0 9 2
1 4 ,6 3 2
1 5 ,3 0 2
1 4 ,9 9 3
1 4 ,1 4 6
1 3 ,9 4 3
1 4 ,3 9 7
1 4 ,9 2 3
1 5 ,0 4 0
1 5 ,5 6 7
1 5 ,5 0 9
A f f i l i a t e d ..................................................................................................
4 2 ,1 0 6
10,012
1 0 ,1 3 1
1 0 ,1 0 5
1 1 ,8 5 8
1 0 ,5 5 0
1 1 ,4 3 2
1 0 ,7 7 5
1 0 ,5 4 0
1 0 ,3 3 2
1 0 ,5 4 4
1 0 ,6 8 9
1 0 ,9 5 8
1 1 ,6 9 7
1 1 ,2 9 1
U .S . p a r e n t s ’ r e c e i p t s .............................................................
3 7 ,9 3 9
9 ,3 1 7
9 ,3 1 3
9 ,3 8 3
9 ,9 2 6
9 ,2 1 8
9 ,9 1 2
9 ,3 2 0
9 ,5 5 4
9 ,3 4 3
9 ,6 6 3
9 ,3 8 0
9 ,4 5 7
9 ,9 4 7
4 ,1 6 7
695
818
722
1 ,9 3 2
1 ,3 3 2
1 ,5 2 0
1 ,4 5 5
986
989
881
1 ,3 0 9
1 ,5 0 1
1 ,7 5 0
1 ,6 9 0
4 ,0 8 2
3 ,8 7 0
4 ,2 1 8
1 ,9 0 5
1 ,6 7 8
U n a f f i l i a t e d ........................
I n d u s tr ia l p r o c e s s e s
1
O t h e r 2..........................
O t h e r p r i v a t e s e r v i c e s ( t a b l e F .2 , lin e 1 0 ) ...........................
4 ,3 3 0
4 ,6 6 4
5 ,4 6 7
5 7 ,4 1 0
U .S . a f f i l i a t e s ’ r e c e i p t s
4 ,5 0 1
4 ,5 6 1
1 7 ,3 4 0
2 4 ,9 0 5
13
14
4 ,3 0 7
5 ,3 2 6
1 2 ,2 1 6
P o r t s e r v i c e s ..................
9
10
11
12
4 ,3 1 7
5 ,2 7 5
12,202
F r e i g h t ...................................
R o y a l t i e s a n d l i c e n s e f e e s ( t a b l e F .2 , lin e 9 ) ...................
4 ,2 1 5
III p
87,438
1 5 ,3 0 4
3 ,6 0 6
3 ,6 1 1
3 ,8 5 3
4 ,2 3 4
4 ,0 8 2
3 ,8 7 0
4 ,2 1 8
3 ,6 0 6
3 ,6 1 1
3 ,8 5 3
4 ,2 3 4
6 ,6 3 3
1 ,6 8 4
1 ,5 4 4
1 ,7 6 2
1 ,6 4 3
1 ,9 0 5
1 ,6 7 8
1 ,9 9 7
1 ,6 8 4
1 ,5 4 4
1 ,7 6 2
1 ,6 4 3
2,220
9 ,6 0 1
1 ,9 9 7
2,220
8 ,6 7 1
1 ,9 2 2
2 ,0 6 7
2 ,0 9 1
2 ,5 9 1
2 ,1 7 7
2 ,1 9 2
1 ,9 2 2
2 ,0 6 7
2 ,0 9 1
2 ,5 9 1
2 ,1 7 7
2 ,1 9 2
1 5 8 ,2 2 3
3 9 ,8 2 2
3 6 ,5 4 9
3 9 ,5 3 1
4 2 ,3 2 1
4 3 ,7 0 1
4 1 ,8 7 4
4 5 ,0 7 8
3 8 ,3 1 6
3 8 ,7 2 6
3 9 ,5 3 8
4 1 ,6 4 3
4 2 ,2 7 3
4 4 ,1 0 3
4 5 ,1 3 7
4 9 ,3 8 9
1 1 ,6 3 4
1 4 ,4 4 0
1 1 ,7 3 3
1 1 ,8 6 3
1 4 ,1 5 9
1 2 ,9 2 1
1 3 ,6 1 9
1 3 ,9 3 0
1 2 ,2 0 3
1 2 ,0 7 5
1 2 ,3 1 8
1 2 ,7 9 3
1 3 ,5 5 3
1 4 ,0 3 0
16
U .S . p a r e n t s ' r e c e i p t s .............................................................
2 9 ,5 0 6
7 ,0 9 0
7 ,1 9 6
6 ,9 6 8
8 ,2 5 2
7 ,3 8 7
7 ,6 9 8
7 ,7 9 0
7 ,3 5 8
7 ,2 8 1
7 ,3 0 7
7 ,5 5 9
7 ,6 6 4
7 ,7 8 7
17
U .S . a f f ilia te s ' r e c e i p t s ...........................................................
1 9 ,8 8 3
4 ,5 4 4
4 ,5 3 7
4 ,8 9 5
5 ,9 0 7
5 ,5 3 4
5 ,9 2 1
6 ,1 4 0
4 ,8 4 5
4 ,7 9 4
5 ,0 1 1
5 ,2 3 4
5 ,8 8 9
6 ,2 4 3
6 ,2 7 3
1 0 8 ,8 3 4
2 8 ,1 8 8
2 4 ,8 1 6
2 7 ,6 6 8
2 8 ,1 6 2
3 0 ,7 8 0
2 8 ,2 5 5
3 1 ,1 4 8
2 6 ,1 1 3
2 6 ,6 5 1
2 7 ,2 2 0
2 8 ,8 5 0
2 8 ,7 2 0
3 0 ,0 7 3
3 0 ,6 9 7
3 ,4 9 8
3 ,5 1 7
3 ,5 4 9
3 ,5 6 0
3 ,5 7 6
3 ,5 9 2
3 ,6 5 8
6 ,8 0 9
6 ,9 2 4
7 ,3 5 5
8 ,1 9 3
8 ,4 1 5
8 ,5 3 1
8 ,7 9 9
15
18
A ff ilia te d s e r v i c e s
U n a f f ilia te d s e r v i c e s
19
E d u c a tio n ..
1 4 ,1 2 3
5 ,8 3 0
1 ,7 4 9
3 ,9 3 2
2 ,6 1 2
5 ,9 6 1
1 ,7 7 8
4 ,0 5 7
20
21
22
F i n a n c i a l s e r v i c e s .....................................................................
2 9 ,2 8 1
6 ,8 0 9
6 ,9 2 4
7 ,3 5 5
8 ,1 9 3
8 ,4 1 5
8 ,5 3 1
8 ,7 9 9
T e l e c o m m u n i c a t i o n s ..............................................................
23
B u s i n e s s , p r o fe s s io n a l, a n d te c h n ic a l s e r v i c e s
I n s u r a n c e , n e t ..............................................................................
6 ,8 3 1
1 ,6 4 2
1 ,6 2 3
1 ,7 1 4
1 ,8 5 2
1 ,9 0 9
1 ,9 6 6
2 ,0 3 2
1 ,6 4 2
1 ,6 2 3
1 ,7 1 4
1 ,8 5 2
1 ,9 0 9
1 ,9 6 6
8 ,1 6 7
2 ,0 3 2
4 ,7 2 4
1 ,1 5 7
1 ,2 0 7
1 ,2 6 5
1 ,0 9 5
1 ,1 8 3
1 ,2 8 6
1 ,2 5 4
1 ,1 5 7
1 ,2 0 7
1 ,2 6 5
1 ,0 9 5
1 ,1 8 3
1 ,2 8 6
1 ,2 5 4
3 9 ,4 9 1
8 ,8 4 6
9 ,6 1 2
1 0 ,0 9 8
1 0 ,9 3 5
9 ,9 3 0
1 1 ,1 2 6
1 1 ,2 9 2
9 ,0 1 9
9 ,6 5 8
1 0 ,1 0 3
1 0 ,7 1 2
1 0 ,1 6 2
1 1 ,1 1 3
1 1 ,3 0 8
3............................................
1 4 ,3 8 4
3 ,9 0 4
3 ,7 0 1
3 ,3 0 4
3 ,4 7 5
3 ,3 8 2
3 ,5 6 8
3 ,7 1 4
3 ,9 8 7
3 ,7 2 3
3 ,2 3 5
3 ,4 3 9
3 ,4 7 5
3 ,5 8 5
3 ,6 4 6
25
Imports of private services......................................
280,563
64,413
72,118
73,922
70,110
69,811
79,864
80,760
66,679
69,452
70,397
72,035
74,401
76,862
76,836
1 8 ,1 3 6
24
O th e r u n a ffilia te d s e r v i c e s
26
T r a v e l ( t a b l e F .2 , lin e 2 3 ) .................................................................
6 9 ,1 7 5
1 4 ,8 6 0
1 9 ,9 0 4
1 9 ,6 5 7
1 4 ,7 5 4
1 5 ,0 7 1
2 1 ,2 5 3
2 0 ,8 3 4
1 7 ,2 7 0
1 7
@FedFRASER